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 |
Las Vegas Sands
LVS
|
+$817M |
| 2 |
Amazon
AMZN
|
+$400M |
| 3 |
Bausch Health
BHC
|
+$358M |
| 4 |
Sysco
SYY
|
+$342M |
| 5 |
SFUN
Fang Holdings Limited American Depositary Shares (each representing ten Class A Ordinary Shares)
SFUN
|
+$154M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
CVS Health
CVS
|
+$1.53B |
| 2 |
American Express
AXP
|
+$700M |
| 3 |
Alphabet (Google) Class C
GOOG
|
+$587M |
| 4 |
BNY
Bank of New York Mellon
BNY
|
+$406M |
| 5 |
Coca-Cola
KO
|
+$356M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 37.59% |
| 2 | Healthcare | 12.22% |
| 3 | Consumer Discretionary | 10.61% |
| 4 | Communication Services | 10.18% |
| 5 | Energy | 6.74% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
Wells Fargo
WFC
$254B
| $2.54B | 6.99% |
51,060,078
-6,481,392
| -11% | -$302M |
|
|
2
American Express
AXP
$227B
| $2.52B | 6.92% |
27,936,377
-7,831,464
| -22% | -$700M |
|
|
BNY
3
Bank of New York Mellon
BNY
$108B
| $2.51B | 6.9% |
71,031,905
-12,291,333
| -15% | -$406M |
|
|
4
Alphabet (Google) Class C
GOOG
$4.18T
| $2.37B | 6.52% |
85,365,255
-20,149,323
| -19% | -$587M |
|
5
Berkshire Hathaway Class A
BRK.A
$1.06T
| $1.6B | 4.41% |
8,546
-1,039
| -11% | -$182M |
|
6
Costco
COST
$420B
| $1.29B | 3.55% |
11,535,342
-1,127,576
| -9% | -$129M |
|
7
Canadian Natural Resources
CNQ
$106B
| $1.23B | 3.39% |
66,307,017
-5,821,738
| -8% | -$98.4M |
|
8
UnitedHealth
UNH
$350B
| $1.18B | 3.26% |
14,450,329
-1,139,338
| -7% | -$85.8M |
|
|
BBBY
9
DELISTED
Bed Bath & Beyond Inc
BBBY
| $1.02B | 2.81% |
14,813,515
-5,108,450
| -26% | -$346M |
|
10
Labcorp
LH
$27.3B
| $947M | 2.61% |
11,218,687
+88,717
| +0.8% | +$7.07M |
|
|
11
CVS Health
CVS
$119B
| $856M | 2.36% |
11,435,259
-21,623,270
| -65% | -$1.53B |
|
|
ESRX
12
DELISTED
Express Scripts Holding Company
ESRX
| $855M | 2.35% |
11,380,532
-1,491,594
| -12% | -$112M |
|
|
13
Las Vegas Sands
LVS
$30.5B
| $836M | 2.3% |
10,345,613
+10,160,658
| +5,494% | +$817M |
|
14
Air Products & Chemicals
APD
$67.9B
| $767M | 2.11% |
6,967,720
-708,263
| -9% | -$75.2M |
|
15
Liberty Global Class C
LBTYK
$3.55B
| $735M | 2.02% |
22,313,148
+1,315,019
| +6% | +$43.9M |
|
16
EOG Resources
EOG
$80.3B
| $734M | 2.02% |
9,022,840
+785,346
| +10% | +$69.9M |
|
17
Progressive
PGR
$127B
| $669M | 1.84% |
27,605,771
-4,818,179
| -15% | -$117M |
|
18
Loews
L
$22.5B
| $658M | 1.81% |
14,947,736
-1,419,782
| -9% | -$63.5M |
|
19
Texas Instruments
TXN
$241B
| $648M | 1.78% |
13,733,592
-1,226,952
| -8% | -$54.1M |
|
20
PACCAR
PCAR
$69B
| $581M | 1.6% |
12,930,782
-1,139,889
| -8% | -$47M |
|
|
SCHW
21
Charles Schwab
SCHW
$194B
| $568M | 1.56% |
20,789,704
+2,065,899
| +11% | +$54M |
|
22
Ecolab
ECL
$78.9B
| $495M | 1.36% |
4,585,043
-535,864
| -10% | -$56.1M |
|
23
Booking.com
BKNG
$158B
| $462M | 1.27% |
9,682,150
+186,250
| +2% | +$9.19M |
|
24
Visa
V
$693B
| $434M | 1.19% |
8,036,936
-705,072
| -8% | -$39.2M |
|
25
Microsoft
MSFT
$3.59T
| $423M | 1.16% |
10,316,723
-1,062,189
| -9% | -$39.9M |
|
Similar funds
Christopher Davis's Q1 2014 Portfolio in Review
As of Q1 2014, Christopher Davis held 201 positions worth $36.3B, down 11% from $40.9B the previous quarter. Its ten largest holdings account for 47% of the portfolio.
Christopher Davis withdrew a net $5.19B in Q1 2014, closing 26 positions and reducing 65 holdings. Its most notable exit was Ameriprise Financial, an estimated $344M position sold in full.
By sector, the portfolio is most concentrated in Financials at 38% of assets, down from 39% a quarter earlier, followed by Healthcare and Consumer Discretionary.
Against the trend, Christopher Davis opened a new position in Sysco worth $344M.
- Christopher Davis's largest Q1 2014 buy was Sysco: 9,515,802 shares worth $344M.
- Christopher Davis added most to Las Vegas Sands in Q1 2014, an estimated $817M increase.
- Christopher Davis's biggest Q1 2014 reduction was CVS Health, cutting an estimated $1.53B.
- Christopher Davis fully exited Ameriprise Financial in Q1 2014, selling an estimated $344M.
- Christopher Davis's ten largest holdings make up 47% of its $36.3B portfolio in Q1 2014.
- Christopher Davis opened 12 new positions and closed 26 in Q1 2014.
- Christopher Davis's portfolio value fell 11% quarter-over-quarter to $36.3B.
Based on Davis Selected Advisers's 13F filing for Q1 2014, filed 13 May 2014.