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 |
Bank of America
BAC
|
+$26.2M |
| 2 |
SCHW
Charles Schwab
SCHW
|
+$18.3M |
| 3 |
CTRA
Coterra Energy
CTRA
|
+$13.6M |
| 4 |
Cigna
CI
|
+$13.2M |
| 5 |
Expedia Group
EXPE
|
+$12.2M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Loews
L
|
+$76.6M |
| 2 |
Adient
ADNT
|
+$66M |
| 3 |
Amazon
AMZN
|
+$54M |
| 4 |
Alphabet (Google) Class C
GOOG
|
+$52.4M |
| 5 |
New Oriental
EDU
|
+$52M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 40.39% |
| 2 | Communication Services | 13.01% |
| 3 | Consumer Discretionary | 11.62% |
| 4 | Technology | 10.64% |
| 5 | Industrials | 6.49% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
Wells Fargo
WFC
$254B
| $1.39B | 6.97% |
27,467,268
-262,596
| -0.9% | -$12.4M |
|
2
Capital One
COF
$134B
| $1.24B | 6.25% |
13,663,040
-173,347
| -1% | -$15.6M |
|
|
3
New Oriental
EDU
$8.88B
| $1.18B | 5.92% |
10,622,576
-497,015
| -4% | -$52M |
|
|
4
Alphabet (Google) Class C
GOOG
$4.18T
| $1.12B | 5.61% |
18,301,140
-884,740
| -5% | -$52.4M |
|
|
5
Amazon
AMZN
$2.79T
| $1.09B | 5.5% |
12,605,280
-581,840
| -4% | -$54M |
|
6
RTX Corp
RTX
$283B
| $1.07B | 5.41% |
12,504,593
-535,491
| -4% | -$44.5M |
|
7
Berkshire Hathaway Class A
BRK.A
$1.06T
| $1.01B | 5.09% |
3,244
-107
| -3% | -$33.1M |
|
8
JPMorgan Chase
JPM
$935B
| $906M | 4.56% |
7,701,685
-222,467
| -3% | -$25.2M |
|
9
Meta Platforms (Facebook)
META
$1.4T
| $795M | 4% |
4,466,648
-191,068
| -4% | -$36.3M |
|
10
Applied Materials
AMAT
$391B
| $776M | 3.9% |
15,544,930
-335,807
| -2% | -$16.2M |
|
|
BNY
11
Bank of New York Mellon
BNY
$108B
| $736M | 3.7% |
16,279,343
-437,025
| -3% | -$19.5M |
|
12
Alibaba
BABA
$286B
| $698M | 3.51% |
4,176,607
+3,421
| +0.1% | +$588K |
|
13
American Express
AXP
$227B
| $693M | 3.49% |
5,856,906
-271,486
| -4% | -$33.3M |
|
14
APA Corp
APA
$15.2B
| $563M | 2.83% |
21,996,556
-1,012,227
| -4% | -$24.3M |
|
|
15
Alphabet (Google) Class A
GOOGL
$4.22T
| $552M | 2.78% |
9,037,760
-345,560
| -4% | -$20.5M |
|
16
Texas Instruments
TXN
$241B
| $503M | 2.53% |
3,892,068
-189,540
| -5% | -$23.4M |
|
17
US Bancorp
USB
$96.7B
| $481M | 2.42% |
8,685,980
-370,216
| -4% | -$20M |
|
18
Quest Diagnostics
DGX
$27B
| $426M | 2.14% |
3,978,452
-22,718
| -0.6% | -$2.33M |
|
19
Intel
INTC
$476B
| $377M | 1.9% |
7,313,775
-159,931
| -2% | -$7.86M |
|
|
20
Berkshire Hathaway Class B
BRK.B
$1.06T
| $331M | 1.67% |
1,593,552
-34,206
| -2% | -$7.05M |
|
21
Chubb
CB
$132B
| $323M | 1.63% |
2,001,929
-155,649
| -7% | -$24.1M |
|
22
Markel Group
MKL
$22.2B
| $266M | 1.34% |
225,069
-10,360
| -4% | -$11.8M |
|
23
Microsoft
MSFT
$3.59T
| $243M | 1.22% |
1,744,532
-55,901
| -3% | -$7.69M |
|
24
Ovintiv
OVV
$18.5B
| $225M | 1.13% |
9,791,316
-268,043
| -3% | -$6.14M |
|
|
25
Adient
ADNT
$1.54B
| $206M | 1.03% |
8,952,876
-2,896,170
| -24% | -$66M |
|
Similar funds
Christopher Davis's Q3 2019 Portfolio in Review
As of Q3 2019, Christopher Davis held 138 positions worth $19.9B, down 1.7% from $20.2B the previous quarter. Its ten largest holdings account for 53% of the portfolio.
Christopher Davis withdrew a net $727M in Q3 2019, closing 3 positions and reducing 61 holdings. Its most notable exit was Liberty Expedia Holdings, Inc. Class A Common Stock, an estimated $12.7M position sold in full.
By sector, the portfolio is most concentrated in Financials at 40% of assets, down from 40% a quarter earlier, followed by Communication Services and Consumer Discretionary.
Against the trend, Christopher Davis opened a new position in Coterra Energy worth $12.4M.
- Christopher Davis's largest Q3 2019 buy was Coterra Energy: 707,142 shares worth $12.4M.
- Christopher Davis added most to Bank of America in Q3 2019, an estimated $26.2M increase.
- Christopher Davis's biggest Q3 2019 reduction was Loews, cutting an estimated $76.6M.
- Christopher Davis fully exited Liberty Expedia Holdings, Inc. Class A Common Stock in Q3 2019, selling an estimated $12.7M.
- Christopher Davis's ten largest holdings make up 53% of its $19.9B portfolio in Q3 2019.
- Christopher Davis opened 6 new positions and closed 3 in Q3 2019.
- Christopher Davis's portfolio value fell 1.7% quarter-over-quarter to $19.9B.
Based on Davis Selected Advisers's 13F filing for Q3 2019, filed 13 Nov 2019.