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 |
Amazon
AMZN
|
+$394M |
| 2 |
JPMorgan Chase
JPM
|
+$274M |
| 3 |
Quest Diagnostics
DGX
|
+$268M |
| 4 |
Moody's
MCO
|
+$198M |
| 5 |
UPL
Ultra Petroleum Corp. Common Stock
UPL
|
+$133M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
BBBY
Bed Bath & Beyond Inc
BBBY
|
+$1.02B |
| 2 |
Progressive
PGR
|
+$670M |
| 3 |
Canadian Natural Resources
CNQ
|
+$548M |
| 4 |
Labcorp
LH
|
+$291M |
| 5 |
EOG Resources
EOG
|
+$272M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 38.39% |
| 2 | Healthcare | 12.23% |
| 3 | Communication Services | 11.2% |
| 4 | Consumer Discretionary | 9.68% |
| 5 | Technology | 6.31% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
BNY
1
Bank of New York Mellon
BNY
$108B
| $2.49B | 7.4% |
66,434,305
-4,597,600
| -6% | -$159M |
|
2
Wells Fargo
WFC
$254B
| $2.47B | 7.36% |
47,086,993
-3,973,085
| -8% | -$200M |
|
3
American Express
AXP
$227B
| $2.43B | 7.22% |
25,616,662
-2,319,715
| -8% | -$209M |
|
4
Alphabet (Google) Class C
GOOG
$4.18T
| $2.29B | 6.81% |
79,210,838
-6,154,417
| -7% | -$167M |
|
5
Berkshire Hathaway Class A
BRK.A
$1.06T
| $1.53B | 4.55% |
8,058
-488
| -6% | -$92.6M |
|
6
Costco
COST
$420B
| $1.16B | 3.44% |
10,049,555
-1,485,787
| -13% | -$170M |
|
7
UnitedHealth
UNH
$350B
| $1.11B | 3.29% |
13,522,334
-927,995
| -6% | -$73M |
|
8
Liberty Global Class C
LBTYK
$3.55B
| $891M | 2.65% |
26,025,936
+3,712,788
| +17% | +$123M |
|
|
9
Canadian Natural Resources
CNQ
$106B
| $863M | 2.57% |
38,886,183
-27,420,834
| -41% | -$548M |
|
10
Las Vegas Sands
LVS
$30.5B
| $764M | 2.27% |
10,023,021
-322,592
| -3% | -$24.5M |
|
|
11
Amazon
AMZN
$2.79T
| $760M | 2.26% |
46,831,060
+24,908,340
| +114% | +$394M |
|
|
12
EOG Resources
EOG
$80.3B
| $752M | 2.24% |
6,436,091
-2,586,749
| -29% | -$272M |
|
|
ESRX
13
DELISTED
Express Scripts Holding Company
ESRX
| $742M | 2.21% |
10,703,208
-677,324
| -6% | -$47.7M |
|
|
14
Labcorp
LH
$27.3B
| $691M | 2.05% |
7,853,806
-3,364,881
| -30% | -$291M |
|
15
CVS Health
CVS
$119B
| $679M | 2.02% |
9,012,151
-2,423,108
| -21% | -$183M |
|
|
16
JPMorgan Chase
JPM
$935B
| $641M | 1.91% |
11,123,809
+4,865,101
| +78% | +$274M |
|
17
Air Products & Chemicals
APD
$67.9B
| $616M | 1.83% |
5,181,105
-1,786,615
| -26% | -$199M |
|
18
Texas Instruments
TXN
$241B
| $597M | 1.77% |
12,481,835
-1,251,757
| -9% | -$58.4M |
|
19
CarMax
KMX
$8.82B
| $584M | 1.74% |
11,224,343
+2,368,218
| +27% | +$108M |
|
|
SCHW
20
Charles Schwab
SCHW
$194B
| $534M | 1.59% |
19,838,885
-950,819
| -5% | -$25M |
|
21
Loews
L
$22.5B
| $512M | 1.52% |
11,628,512
-3,319,224
| -22% | -$145M |
|
22
PACCAR
PCAR
$69B
| $510M | 1.52% |
12,182,133
-748,649
| -6% | -$32M |
|
23
Ecolab
ECL
$78.9B
| $475M | 1.41% |
4,264,985
-320,058
| -7% | -$34.3M |
|
24
Booking.com
BKNG
$158B
| $430M | 1.28% |
8,945,275
-736,875
| -8% | -$35.4M |
|
25
Microsoft
MSFT
$3.59T
| $403M | 1.2% |
9,651,997
-664,726
| -6% | -$26.9M |
|
Similar funds
Christopher Davis's Q2 2014 Portfolio in Review
As of Q2 2014, Christopher Davis held 188 positions worth $33.6B, down 7.4% from $36.3B the previous quarter. Its ten largest holdings account for 48% of the portfolio.
Christopher Davis withdrew a net $4.12B in Q2 2014, closing 8 positions and reducing 79 holdings. Its most notable exit was Bed Bath & Beyond Inc, an estimated $1.02B position sold in full.
By sector, the portfolio is most concentrated in Financials at 38% of assets, up from 38% a quarter earlier, followed by Healthcare and Communication Services.
Against the trend, Christopher Davis opened a new position in Moody's worth $211M.
- Christopher Davis's largest Q2 2014 buy was Moody's: 2,406,257 shares worth $211M.
- Christopher Davis added most to Amazon in Q2 2014, an estimated $394M increase.
- Christopher Davis's biggest Q2 2014 reduction was Progressive, cutting an estimated $670M.
- Christopher Davis fully exited Bed Bath & Beyond Inc in Q2 2014, selling an estimated $1.02B.
- Christopher Davis's ten largest holdings make up 48% of its $33.6B portfolio in Q2 2014.
- Christopher Davis opened 13 new positions and closed 8 in Q2 2014.
- Christopher Davis's portfolio value fell 7.4% quarter-over-quarter to $33.6B.
Based on Davis Selected Advisers's 13F filing for Q2 2014, filed 13 Aug 2014.