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 |
Johnson Controls International
JCI
|
+$259M |
| 2 |
Aptiv
APTV
|
+$259M |
| 3 |
AET
Aetna Inc
AET
|
+$176M |
| 4 |
APA Corp
APA
|
+$113M |
| 5 |
Wells Fargo
WFC
|
+$94.1M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
TYC
TYCO INTL PLC COM SHS (IRL)
TYC
|
+$314M |
| 2 |
ATVI
Activision Blizzard
ATVI
|
+$279M |
| 3 |
Quest Diagnostics
DGX
|
+$255M |
| 4 |
PACCAR
PCAR
|
+$195M |
| 5 |
Amazon
AMZN
|
+$156M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 35.02% |
| 2 | Energy | 14.32% |
| 3 | Consumer Discretionary | 12.65% |
| 4 | Communication Services | 11.42% |
| 5 | Industrials | 7.53% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
Amazon
AMZN
$2.79T
| $1.7B | 7.41% |
40,627,640
-4,080,560
| -9% | -$156M |
|
|
2
APA Corp
APA
$15.2B
| $1.26B | 5.48% |
19,676,467
+2,065,017
| +12% | +$113M |
|
|
3
Wells Fargo
WFC
$254B
| $1.16B | 5.06% |
26,193,351
+1,965,806
| +8% | +$94.1M |
|
4
JPMorgan Chase
JPM
$935B
| $1.13B | 4.92% |
16,953,276
-822,985
| -5% | -$53.7M |
|
5
Alphabet (Google) Class C
GOOG
$4.18T
| $1.03B | 4.49% |
26,524,840
-837,960
| -3% | -$31.8M |
|
6
Berkshire Hathaway Class A
BRK.A
$1.06T
| $1B | 4.37% |
4,634
-59
| -1% | -$12.9M |
|
7
RTX Corp
RTX
$283B
| $904M | 3.94% |
14,140,362
-638,614
| -4% | -$42.4M |
|
|
BNY
8
Bank of New York Mellon
BNY
$108B
| $858M | 3.74% |
21,505,937
+1,715,272
| +9% | +$68.5M |
|
9
American Express
AXP
$227B
| $823M | 3.59% |
12,849,137
-742,733
| -5% | -$47.7M |
|
10
Ovintiv
OVV
$18.5B
| $786M | 3.42% |
15,006,090
+333,173
| +2% | +$14.9M |
|
|
11
Alphabet (Google) Class A
GOOGL
$4.22T
| $703M | 3.06% |
17,484,600
-743,720
| -4% | -$29.1M |
|
|
12
Johnson Controls International
JCI
$86.7B
| $679M | 2.96% |
14,590,065
+5,578,990
| +62% | +$259M |
|
|
MON
13
DELISTED
Monsanto Co
MON
| $637M | 2.78% |
6,237,627
-163,732
| -3% | -$17.2M |
|
14
Texas Instruments
TXN
$241B
| $625M | 2.72% |
8,906,473
-145,243
| -2% | -$9.9M |
|
15
Occidental Petroleum
OXY
$61.3B
| $607M | 2.64% |
8,320,935
-81,614
| -1% | -$6.11M |
|
16
CarMax
KMX
$8.82B
| $519M | 2.26% |
9,724,947
-1,552,638
| -14% | -$88M |
|
|
SCHW
17
Charles Schwab
SCHW
$194B
| $510M | 2.22% |
16,147,073
+602,262
| +4% | +$17.7M |
|
18
UnitedHealth
UNH
$350B
| $455M | 1.98% |
3,250,827
-233,790
| -7% | -$32.7M |
|
19
Liberty Global Class C
LBTYK
$3.55B
| $420M | 1.83% |
12,721,681
-581,192
| -4% | -$17.9M |
|
|
CTRA
20
DELISTED
Coterra Energy
CTRA
| $408M | 1.78% |
15,799,261
+595,242
| +4% | +$14.9M |
|
|
PX
21
DELISTED
Praxair Inc
PX
| $382M | 1.67% |
3,165,236
-175,073
| -5% | -$20.7M |
|
22
Visa
V
$693B
| $373M | 1.63% |
4,511,202
-467,145
| -9% | -$37.4M |
|
|
ESRX
23
DELISTED
Express Scripts Holding Company
ESRX
| $327M | 1.43% |
4,638,868
-316,849
| -6% | -$23.7M |
|
24
Meta Platforms (Facebook)
META
$1.4T
| $310M | 1.35% |
2,420,251
-178,998
| -7% | -$22.2M |
|
25
Costco
COST
$420B
| $299M | 1.3% |
1,961,214
-151,767
| -7% | -$24.5M |
|
Similar funds
Christopher Davis's Q3 2016 Portfolio in Review
As of Q3 2016, Christopher Davis held 139 positions worth $22.9B, up 1% from $22.7B the previous quarter. Its ten largest holdings account for 46% of the portfolio.
Christopher Davis withdrew a net $1.19B in Q3 2016, closing 7 positions and reducing 60 holdings. Its most notable exit was TYCO INTL PLC COM SHS (IRL), an estimated $314M position sold in full.
By sector, the portfolio is most concentrated in Financials at 35% of assets, up from 34% a quarter earlier, followed by Energy and Consumer Discretionary.
Against the trend, Christopher Davis opened a new position in Aptiv worth $273M.
- Christopher Davis's largest Q3 2016 buy was Aptiv: 3,833,351 shares worth $273M.
- Christopher Davis added most to Johnson Controls International in Q3 2016, an estimated $259M increase.
- Christopher Davis's biggest Q3 2016 reduction was Quest Diagnostics, cutting an estimated $255M.
- Christopher Davis fully exited TYCO INTL PLC COM SHS (IRL) in Q3 2016, selling an estimated $314M.
- Christopher Davis's ten largest holdings make up 46% of its $22.9B portfolio in Q3 2016.
- Christopher Davis opened 7 new positions and closed 7 in Q3 2016.
- Christopher Davis's portfolio value rose 1% quarter-over-quarter to $22.9B.
Based on Davis Selected Advisers's 13F filing for Q3 2016, filed 14 Nov 2016.