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 |
New Oriental
EDU
|
+$135M |
| 2 |
Applied Materials
AMAT
|
+$90.7M |
| 3 |
CVS Health
CVS
|
+$84.4M |
| 4 |
Quest Diagnostics
DGX
|
+$62.4M |
| 5 |
iShares S&P 500 Value ETF
IVE
|
+$55M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
AET
Aetna Inc
AET
|
+$933M |
| 2 |
SHPG
Shire pic
SHPG
|
+$297M |
| 3 |
GE Aerospace
GE
|
+$119M |
| 4 |
APA Corp
APA
|
+$43.2M |
| 5 |
ESRX
Express Scripts Holding Company
ESRX
|
+$36.9M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 42.47% |
| 2 | Communication Services | 13.64% |
| 3 | Consumer Discretionary | 11.91% |
| 4 | Industrials | 10.18% |
| 5 | Technology | 7.64% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
Wells Fargo
WFC
$254B
| $1.24B | 6.94% |
26,971,021
-149,380
| -0.6% | -$7.65M |
|
2
Berkshire Hathaway Class A
BRK.A
$1.06T
| $1.08B | 6.02% |
3,519
-16
| -0.5% | -$5.01M |
|
3
Amazon
AMZN
$2.79T
| $1.06B | 5.94% |
14,182,000
-430,400
| -3% | -$35.8M |
|
4
Alphabet (Google) Class C
GOOG
$4.18T
| $1.06B | 5.91% |
20,411,160
-257,400
| -1% | -$13.8M |
|
5
Capital One
COF
$134B
| $1B | 5.6% |
13,267,950
-179,211
| -1% | -$15.5M |
|
6
RTX Corp
RTX
$283B
| $875M | 4.89% |
13,063,471
+36,196
| +0.3% | +$2.84M |
|
|
BNY
7
Bank of New York Mellon
BNY
$108B
| $821M | 4.59% |
17,462,483
-74,995
| -0.4% | -$3.64M |
|
8
JPMorgan Chase
JPM
$935B
| $784M | 4.38% |
8,033,318
-59,995
| -0.7% | -$6.39M |
|
9
Meta Platforms (Facebook)
META
$1.4T
| $691M | 3.86% |
5,267,533
+289,382
| +6% | +$41.9M |
|
10
American Express
AXP
$227B
| $621M | 3.47% |
6,516,995
-242,185
| -4% | -$25.3M |
|
|
11
APA Corp
APA
$15.2B
| $601M | 3.36% |
22,882,206
-1,171,458
| -5% | -$43.2M |
|
12
Alibaba
BABA
$286B
| $570M | 3.18% |
4,153,816
+206,372
| +5% | +$30.5M |
|
|
13
New Oriental
EDU
$8.88B
| $563M | 3.15% |
10,273,245
+2,328,455
| +29% | +$135M |
|
|
14
Alphabet (Google) Class A
GOOGL
$4.22T
| $522M | 2.92% |
9,990,660
-576,060
| -5% | -$31.1M |
|
|
15
Applied Materials
AMAT
$391B
| $432M | 2.42% |
13,214,457
+2,646,045
| +25% | +$90.7M |
|
16
US Bancorp
USB
$96.7B
| $422M | 2.36% |
9,230,157
-12,979
| -0.1% | -$668K |
|
17
Texas Instruments
TXN
$241B
| $405M | 2.26% |
4,285,380
-138,670
| -3% | -$13.4M |
|
|
18
GE Aerospace
GE
$361B
| $386M | 2.16% |
10,648,065
-2,630,922
| -20% | -$119M |
|
19
Johnson Controls International
JCI
$86.7B
| $374M | 2.09% |
12,607,660
-631,574
| -5% | -$20.8M |
|
|
20
Berkshire Hathaway Class B
BRK.B
$1.06T
| $357M | 1.99% |
1,751,245
-63,290
| -3% | -$13.2M |
|
21
Microsoft
MSFT
$3.59T
| $293M | 1.64% |
2,889,277
-74,418
| -3% | -$7.97M |
|
22
Chubb
CB
$132B
| $282M | 1.58% |
2,186,403
+8,757
| +0.4% | +$1.13M |
|
23
Markel Group
MKL
$22.2B
| $255M | 1.43% |
246,090
+3,691
| +2% | +$4.04M |
|
24
Ovintiv
OVV
$18.5B
| $240M | 1.34% |
8,305,999
-30,377
| -0.4% | -$1.31M |
|
25
Loews
L
$22.5B
| $194M | 1.08% |
4,260,915
+13,270
| +0.3% | +$625K |
|
Similar funds
Christopher Davis's Q4 2018 Portfolio in Review
As of Q4 2018, Christopher Davis held 148 positions worth $17.9B, down 23% from $23.3B the previous quarter. Its ten largest holdings account for 52% of the portfolio.
Christopher Davis withdrew a net $1.05B in Q4 2018, closing 11 positions and reducing 50 holdings. Its most notable exit was Aetna Inc, an estimated $933M position sold in full.
By sector, the portfolio is most concentrated in Financials at 42% of assets, up from 41% a quarter earlier, followed by Communication Services and Consumer Discretionary.
Against the trend, Christopher Davis opened a new position in CVS Health worth $74M.
- Christopher Davis's largest Q4 2018 buy was CVS Health: 1,130,059 shares worth $74M.
- Christopher Davis added most to New Oriental in Q4 2018, an estimated $135M increase.
- Christopher Davis's biggest Q4 2018 reduction was Shire pic, cutting an estimated $297M.
- Christopher Davis fully exited Aetna Inc in Q4 2018, selling an estimated $933M.
- Christopher Davis's ten largest holdings make up 52% of its $17.9B portfolio in Q4 2018.
- Christopher Davis opened 9 new positions and closed 11 in Q4 2018.
- Christopher Davis's portfolio value fell 23% quarter-over-quarter to $17.9B.
Based on Davis Selected Advisers's 13F filing for Q4 2018, filed 12 Feb 2019.