Christopher Davis Davis Selected Advisers
Christopher Davis is chairman of Davis Advisors, a multi-generational investment firm known for research-intensive equity management. The firm’s strategies often emphasize financials and other businesses where long-term ownership and careful accounting analysis matter. Davis is a frequent public commentator on active management and long-horizon investing.
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Booking.com
BKNG
|
+$363M |
| 2 |
Labcorp
LH
|
+$197M |
| 3 |
Liberty Global Class C
LBTYK
|
+$187M |
| 4 |
Textron
TXT
|
+$124M |
| 5 |
WAIR
WESCO Aircraft Holdings Inc.
WAIR
|
+$63.3M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Walt Disney
DIS
|
+$425M |
| 2 |
MON
Monsanto Co
MON
|
+$326M |
| 3 |
POT
Potash Corp Of Saskatchewan
POT
|
+$195M |
| 4 |
Transocean
RIG
|
+$183M |
| 5 |
Emerson Electric
EMR
|
+$179M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 40.29% |
| 2 | Healthcare | 13% |
| 3 | Communication Services | 9.57% |
| 4 | Consumer Discretionary | 8.06% |
| 5 | Energy | 6.83% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
176
Cemex
CX
$16B
| $243K | ﹤0.01% |
25,462
-24,333
| -49% | -$239K |
|
177
Apple
AAPL
$4.51T
| $224K | ﹤0.01% |
+13,160
| New | +$218K |
|
178
W.R. Berkley
WRB
$25.5B
| $218K | ﹤0.01% |
17,145
| – | – |
|
179
United Parcel Service
UPS
$86.8B
| $213K | ﹤0.01% |
+2,326
| New | +$204K |
|
180
Automatic Data Processing
ADP
$112B
| – | – |
-145,463
| Closed | -$8.79M |
|
181
Autodesk
ADSK
$53.6B
| – | – |
-25,000
| Closed | -$849K |
|
182
iShares Core US Aggregate Bond ETF
AGG
$138B
| – | – |
-7,750
| Closed | -$831K |
|
183
APA Corp
APA
$15.2B
| – | – |
-2,715
| Closed | -$228K |
|
184
CME Group
CME
$98.9B
| – | – |
-885,160
| Closed | -$67.2M |
|
185
Cummins
CMI
$80.9B
| – | – |
-70,036
| Closed | -$7.6M |
|
186
ConocoPhillips
COP
$162B
| – | – |
-35,690
| Closed | -$2.16M |
|
187
Dominion Energy
D
$58.6B
| – | – |
-6,270
| Closed | -$356K |
|
188
Estee Lauder
EL
$36.9B
| – | – |
-34,855
| Closed | -$2.29M |
|
|
189
Emerson Electric
EMR
$87.7B
| – | – |
-3,286,218
| Closed | -$179M |
|
190
Graham Holdings Company
GHC
$4.94B
| – | – |
-4,310
| Closed | -$1.26M |
|
191
Home Depot
HD
$335B
| – | – |
-22,500
| Closed | -$1.74M |
|
|
JWN
192
DELISTED
Nordstrom
JWN
| – | – |
-30,000
| Closed | -$1.8M |
|
|
K
193
DELISTED
Kellanova
K
| – | – |
-200,142
| Closed | -$12.1M |
|
194
Eli Lilly
LLY
$1.12T
| – | – |
-298,809
| Closed | -$14.7M |
|
195
Medtronic
MDT
$119B
| – | – |
-352,932
| Closed | -$18.2M |
|
196
Novartis
NVS
$302B
| – | – |
-36,940
| Closed | -$2.34M |
|
|
PARA
197
DELISTED
Paramount Global Class B
PARA
| – | – |
-14,020
| Closed | -$685K |
|
198
Procter & Gamble
PG
$336B
| – | – |
-198,107
| Closed | -$15.3M |
|
199
Phillips 66
PSX
$96.9B
| – | – |
-17,845
| Closed | -$1.05M |
|
200
Sunstone Hotel Investors
SHO
$2.1B
| – | – |
-336,131
| Closed | -$4.06M |
|
Similar funds
Christopher Davis's Q3 2013 Portfolio in Review
As of Q3 2013, Christopher Davis held 218 positions worth $38.5B, down 2.2% from $39.4B the previous quarter. Its ten largest holdings account for 50% of the portfolio.
Christopher Davis withdrew a net $2.67B in Q3 2013, closing 32 positions and reducing 122 holdings. Its most notable exit was Emerson Electric, an estimated $179M position sold in full.
By sector, the portfolio is most concentrated in Financials at 40% of assets, up from 40% a quarter earlier, followed by Healthcare and Communication Services.
Against the trend, Christopher Davis opened a new position in Booking.com worth $393M.
- Christopher Davis's largest Q3 2013 buy was Booking.com: 9,706,775 shares worth $393M.
- Christopher Davis added most to Labcorp in Q3 2013, an estimated $197M increase.
- Christopher Davis's biggest Q3 2013 reduction was Walt Disney, cutting an estimated $425M.
- Christopher Davis fully exited Emerson Electric in Q3 2013, selling an estimated $179M.
- Christopher Davis's ten largest holdings make up 50% of its $38.5B portfolio in Q3 2013.
- Christopher Davis opened 19 new positions and closed 32 in Q3 2013.
- Christopher Davis's portfolio value fell 2.2% quarter-over-quarter to $38.5B.
Based on Davis Selected Advisers's 13F filing for Q3 2013, filed 12 Nov 2013.