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 |
PX
Praxair Inc
PX
|
+$473M |
| 2 |
IBM
IBM
|
+$451M |
| 3 |
Ovintiv
OVV
|
+$416M |
| 4 |
UPL
Ultra Petroleum Corp. Common Stock
UPL
|
+$374M |
| 5 |
Amazon
AMZN
|
+$326M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Air Products & Chemicals
APD
|
+$633M |
| 2 |
CVS Health
CVS
|
+$541M |
| 3 |
Costco
COST
|
+$416M |
| 4 |
EOG Resources
EOG
|
+$239M |
| 5 |
BNY
Bank of New York Mellon
BNY
|
+$177M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 39.95% |
| 2 | Communication Services | 11.74% |
| 3 | Healthcare | 11.38% |
| 4 | Consumer Discretionary | 10.17% |
| 5 | Technology | 7.32% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
BNY
1
Bank of New York Mellon
BNY
$108B
| $2.4B | 7.45% |
61,887,826
-4,546,479
| -7% | -$177M |
|
2
Wells Fargo
WFC
$254B
| $2.35B | 7.29% |
45,230,614
-1,856,379
| -4% | -$95.5M |
|
3
Alphabet (Google) Class C
GOOG
$4.18T
| $2.29B | 7.12% |
78,857,872
-352,966
| -0.4% | -$10.2M |
|
4
American Express
AXP
$227B
| $2.15B | 6.67% |
24,533,544
-1,083,118
| -4% | -$97.5M |
|
5
Berkshire Hathaway Class A
BRK.A
$1.06T
| $1.67B | 5.18% |
8,061
+3
| +0% | +$599K |
|
6
UnitedHealth
UNH
$350B
| $1.14B | 3.56% |
13,273,506
-248,828
| -2% | -$21M |
|
|
7
Amazon
AMZN
$2.79T
| $1.07B | 3.33% |
66,410,120
+19,579,060
| +42% | +$326M |
|
8
Liberty Global Class C
LBTYK
$3.55B
| $934M | 2.9% |
28,152,748
+2,126,812
| +8% | +$71.7M |
|
|
9
Costco
COST
$420B
| $828M | 2.57% |
6,603,246
-3,446,309
| -34% | -$416M |
|
|
ESRX
10
DELISTED
Express Scripts Holding Company
ESRX
| $752M | 2.34% |
10,650,525
-52,683
| -0.5% | -$3.75M |
|
11
Las Vegas Sands
LVS
$30.5B
| $727M | 2.26% |
11,685,689
+1,662,668
| +17% | +$114M |
|
|
PX
12
DELISTED
Praxair Inc
PX
| $706M | 2.19% |
5,471,961
+3,603,944
| +193% | +$473M |
|
13
JPMorgan Chase
JPM
$935B
| $668M | 2.07% |
11,086,115
-37,694
| -0.3% | -$2.2M |
|
14
Canadian Natural Resources
CNQ
$106B
| $642M | 2% |
34,204,525
-4,681,658
| -12% | -$96.7M |
|
15
Labcorp
LH
$27.3B
| $610M | 1.89% |
6,972,104
-881,702
| -11% | -$79.7M |
|
16
Texas Instruments
TXN
$241B
| $594M | 1.85% |
12,457,717
-24,118
| -0.2% | -$1.16M |
|
|
SCHW
17
Charles Schwab
SCHW
$194B
| $579M | 1.8% |
19,690,957
-147,928
| -0.7% | -$4.19M |
|
18
CarMax
KMX
$8.82B
| $523M | 1.63% |
11,268,011
+43,668
| +0.4% | +$2.24M |
|
19
Ecolab
ECL
$78.9B
| $489M | 1.52% |
4,262,109
-2,876
| -0.1% | -$324K |
|
20
Bausch Health
BHC
$2.41B
| $463M | 1.44% |
3,529,237
+375,489
| +12% | +$44.8M |
|
21
PACCAR
PCAR
$69B
| $460M | 1.43% |
12,128,565
-53,568
| -0.4% | -$2.23M |
|
|
UPL
22
DELISTED
Ultra Petroleum Corp. Common Stock
UPL
| $456M | 1.42% |
19,609,259
+14,919,129
| +318% | +$374M |
|
|
23
IBM
IBM
$222B
| $454M | 1.41% |
2,499,886
+2,477,231
| +10,935% | +$451M |
|
24
Microsoft
MSFT
$3.59T
| $435M | 1.35% |
9,372,850
-279,147
| -3% | -$12.5M |
|
|
25
EOG Resources
EOG
$80.3B
| $420M | 1.31% |
4,240,453
-2,195,638
| -34% | -$239M |
|
Similar funds
Christopher Davis's Q3 2014 Portfolio in Review
As of Q3 2014, Christopher Davis held 199 positions worth $32.2B, down 4.3% from $33.6B the previous quarter. Its ten largest holdings account for 48% of the portfolio.
Christopher Davis withdrew a net $1.03B in Q3 2014, closing 11 positions and reducing 75 holdings. Its most notable exit was SLB Ltd, an estimated $122M position sold in full.
By sector, the portfolio is most concentrated in Financials at 40% of assets, up from 38% a quarter earlier, followed by Communication Services and Healthcare.
Against the trend, Christopher Davis opened a new position in Ovintiv worth $401M.
- Christopher Davis's largest Q3 2014 buy was Ovintiv: 3,777,664 shares worth $401M.
- Christopher Davis added most to Praxair Inc in Q3 2014, an estimated $473M increase.
- Christopher Davis's biggest Q3 2014 reduction was Air Products & Chemicals, cutting an estimated $633M.
- Christopher Davis fully exited SLB Ltd in Q3 2014, selling an estimated $122M.
- Christopher Davis's ten largest holdings make up 48% of its $32.2B portfolio in Q3 2014.
- Christopher Davis opened 21 new positions and closed 11 in Q3 2014.
- Christopher Davis's portfolio value fell 4.3% quarter-over-quarter to $32.2B.
Based on Davis Selected Advisers's 13F filing for Q3 2014, filed 12 Nov 2014.