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Christopher Davis Davis Selected Advisers
AUM
$23.2B
Turnover
7.56%
1-Year Est. Return
18.42%
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.
This Fund
S&P 500
This Quarter Est. Return
+8.6%
1 Year Est. Return
+18.42%
3 Year Est. Return
+93.59%
5 Year Est. Return
+98.13%
10 Year Est. Return
+348.63%
AUM
$14.7B
AUM Growth
+$652M
(+4.6%)
Cap. Flow
-$405M
Cap. Flow % of AUM
Cap. Flow %
-2.75%
Top 10 Holdings %
Top 10 Hldgs %
53.86%
Holding
116
New
2
Increased
30
Reduced
55
Closed
7
Avg Time Held
5.5
years
Top 10 Avg Time Held
3.2
years
Top 20 Avg Time Held
5.2
years
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Meta Platforms (Facebook)
META
|
+$268M |
| 2 |
Amazon
AMZN
|
+$247M |
| 3 |
Markel Group
MKL
|
+$52.1M |
| 4 |
Fifth Third Bancorp
FITB
|
+$29.6M |
| 5 |
Owens Corning
OC
|
+$20.6M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Cigna
CI
|
+$397M |
| 2 |
JD.com
JD
|
+$195M |
| 3 |
Wells Fargo
WFC
|
+$56M |
| 4 |
Berkshire Hathaway Class A
BRK.A
|
+$39.5M |
| 5 |
Charles Schwab
SCHW
|
+$36.8M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 46.52% |
| 2 | Communication Services | 11.68% |
| 3 | Technology | 11% |
| 4 | Healthcare | 10.94% |
| 5 | Consumer Discretionary | 7.26% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
|
1
Wells Fargo
WFC
$258B
| $1.27B | 8.65% |
30,812,906
-1,264,828
| -4% | -$56M |
2013 Q2
38 quarters
|
|
2
Capital One
COF
$117B
| $1.01B | 6.87% |
10,867,609
+49,543
| +0.5% | +$4.87M |
2014 Q3
33 quarters
|
|
|
3
Berkshire Hathaway Class A
BRK.A
$1.26T
| $989M | 6.72% |
2,109
-88
| -4% | -$39.5M |
2013 Q2
38 quarters
|
|
|
4
Meta Platforms (Facebook)
META
$1.64T
| $787M | 5.35% |
6,538,326
+2,284,011
| +54% | +$268M |
2015 Q4
28 quarters
|
|
5
Applied Materials
AMAT
$294B
| $707M | 4.8% |
7,259,244
-98,452
| -1% | -$9.45M |
2013 Q2
38 quarters
|
|
6
US Bancorp
USB
$95B
| $689M | 4.68% |
15,801,280
-622,797
| -4% | -$26.7M |
2013 Q2
38 quarters
|
|
|
7
Amazon
AMZN
$2.88T
| $654M | 4.44% |
7,780,936
+2,497,320
| +47% | +$247M |
2013 Q2
38 quarters
|
|
|
8
Cigna
CI
$78.3B
| $610M | 4.14% |
1,840,098
-1,254,391
| -41% | -$397M |
2018 Q4
16 quarters
|
|
9
Viatris
VTRS
$23.9B
| $609M | 4.14% |
54,721,607
-738,579
| -1% | -$7.72M |
2020 Q4
8 quarters
|
|
10
Bank of New York Mellon
BNY
$103B
| $599M | 4.07% |
13,165,044
-450,279
| -3% | -$19.3M |
2013 Q2
38 quarters
|
|
11
JPMorgan Chase
JPM
$919B
| $573M | 3.9% |
4,274,179
-168,160
| -4% | -$21.3M |
2013 Q2
38 quarters
|
|
12
Teck Resources
TECK
$29.6B
| $492M | 3.34% |
13,008,612
+253,832
| +2% | +$8.79M |
2021 Q3
5 quarters
|
|
13
Texas Instruments
TXN
$277B
| $471M | 3.2% |
2,853,589
-86,554
| -3% | -$14.4M |
2013 Q2
38 quarters
|
|
14
Alphabet (Google) Class C
GOOG
$3.6T
| $400M | 2.72% |
4,507,926
-151,528
| -3% | -$14.5M |
2013 Q2
38 quarters
|
|
15
Alphabet (Google) Class A
GOOGL
$3.64T
| $377M | 2.56% |
4,276,844
-116,777
| -3% | -$11.1M |
2015 Q4
28 quarters
|
|
16
Berkshire Hathaway Class B
BRK.B
$1.26T
| $366M | 2.49% |
1,183,955
-79,025
| -6% | -$23.5M |
2013 Q2
38 quarters
|
|
17
Chubb
CB
$144B
| $339M | 2.31% |
1,538,314
-157,787
| -9% | -$32.8M |
2013 Q2
38 quarters
|
|
|
18
Markel Group
MKL
$24.2B
| $330M | 2.24% |
250,362
+42,142
| +20% | +$52.1M |
2013 Q2
38 quarters
|
|
|
19
Owens Corning
OC
$8.94B
| $308M | 2.09% |
3,608,040
+234,900
| +7% | +$20.6M |
2018 Q4
16 quarters
|
|
20
Intel
INTC
$317B
| $298M | 2.02% |
11,262,103
-428,383
| -4% | -$11.9M |
2013 Q2
38 quarters
|
|
21
Quest Diagnostics
DGX
$28.6B
| $287M | 1.95% |
1,835,823
-35,337
| -2% | -$5.08M |
2014 Q1
35 quarters
|
|
|
22
JD.com
JD
$37.7B
| $249M | 1.69% |
4,430,035
-3,875,539
| -47% | -$195M |
2014 Q2
34 quarters
|
|
23
Darling Ingredients
DAR
$8.67B
| $196M | 1.33% |
3,129,927
-53,478
| -2% | -$3.77M |
2021 Q2
6 quarters
|
|
24
American Express
AXP
$215B
| $146M | 0.99% |
988,952
-89,851
| -8% | -$13.3M |
2013 Q2
38 quarters
|
|
25
Bank of America
BAC
$352B
| $97.7M | 0.66% |
2,949,213
-172,089
| -6% | -$5.93M |
2019 Q1
15 quarters
|
|
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Christopher Davis's Q4 2022 Portfolio in Review
As of Q4 2022, Christopher Davis held 116 positions worth $14.7B, up 4.6% from $14.1B the previous quarter. Its ten largest holdings account for 54% of the portfolio.
Christopher Davis's Q4 2022 filing shows 2 new, 30 increased, 55 reduced and 7 closed positions. Its largest new stake was MasterBrand: 2,187,640 shares worth $16.5M. The largest sale was Cigna, an estimated $397M.
By sector, the portfolio is most concentrated in Financials at 47% of assets, up from 45% a quarter earlier, followed by Communication Services and Technology.
- Christopher Davis's largest Q4 2022 buy was MasterBrand: 2,187,640 shares worth $16.5M.
- Christopher Davis added most to Meta Platforms (Facebook) in Q4 2022, an estimated $268M increase.
- Christopher Davis's biggest Q4 2022 reduction was Cigna, cutting an estimated $397M.
- Christopher Davis fully exited VMware, Inc in Q4 2022, selling an estimated $7.26M.
- Christopher Davis's ten largest holdings make up 54% of its $14.7B portfolio in Q4 2022.
- Christopher Davis opened 2 new positions and closed 7 in Q4 2022.
- Christopher Davis's portfolio value rose 4.6% quarter-over-quarter to $14.7B.
Based on Davis Selected Advisers's 13F filing for Q4 2022, filed 10 Feb 2023.