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DAM
Davis Asset Management Portfolio holdings
AUM
$3.95B
Turnover
6.82%
1-Year Est. Return
11.79%
This Fund
S&P 500
This Quarter
Est. Return
-1.15%
1 Year Est. Return
+11.79%
3 Year Est. Return
+97.29%
5 Year Est. Return
+74.22%
10 Year Est. Return
+413.43%
AUM
$1.56B
AUM Growth
-$235M
(-13%)
Cap. Flow
-$111M
Cap. Flow
% of AUM
-7.1%
Top 10 Holdings %
Top 10 Hldgs %
55.95%
Holding
33
New
2
Increased
5
Reduced
2
Closed
1
Avg Time Held
4.1
years
Top 10 Avg Time Held
1.5
years
Top 20 Avg Time Held
3.5
years
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Webster Financial
WBS
|
+$34.6M |
| 2 |
M&T Bank
MTB
|
+$27.6M |
| 3 |
First Citizens BancShares
FCNCA
|
+$10.5M |
| 4 |
Axos Financial
AX
|
+$8.1M |
| 5 |
CNB Financial Corp
CCNE
|
+$4.57M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
SBNY
Signature Bank
SBNY
|
+$127M |
| 2 |
Arch Capital
ACGL
|
+$65.7M |
| 3 |
ServisFirst Bancshares
SFBS
|
+$6.46M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 77.34% |
| 2 | Communication Services | 10.54% |
| 3 | Industrials | 7.43% |
| 4 | Consumer Discretionary | 3.28% |
| 5 | Real Estate | 1.4% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
|
1
Arch Capital
ACGL
$33.9B
| $136M | 8.72% |
2,000,720
-999,280
| -33% | -$65.7M |
2019 Q4
13 quarters
|
|
2
Global Payments
GPN
$22.3B
| $116M | 7.43% |
1,100,000
| – | – |
2021 Q3
6 quarters
|
|
3
Alphabet (Google) Class C
GOOG
$4.22T
| $104M | 6.68% |
1,000,000
| – | – |
2018 Q2
19 quarters
|
|
4
State Street
STT
$46B
| $90.8M | 5.83% |
1,200,000
| – | – |
2021 Q4
5 quarters
|
|
5
Western Alliance Bancorporation
WAL
$8.11B
| $88.8M | 5.71% |
2,500,000
| – | – |
2018 Q4
17 quarters
|
|
6
Chubb
CB
$136B
| $87.4M | 5.61% |
450,000
| – | – |
2018 Q2
19 quarters
|
|
7
Visa
V
$750B
| $67.6M | 4.34% |
300,000
| – | – |
2016 Q4
25 quarters
|
|
8
Berkshire Hathaway Class B
BRK.B
$1.13T
| $61.8M | 3.97% |
200,000
| – | – |
2013 Q2
39 quarters
|
|
9
Meta Platforms (Facebook)
META
$1.88T
| $60.2M | 3.86% |
500,000
| – | – |
2018 Q2
19 quarters
|
|
|
10
DELISTED
Webster Financial
WBS
| $59.1M | 3.8% |
1,500,000
+721,250
| +93% | +$34.6M |
2022 Q1
4 quarters
|
|
11
Berkshire Hathaway Class A
BRK.A
$1.13T
| $55.9M | 3.59% |
120
| – | – |
2013 Q2
39 quarters
|
|
12
KKR & Co
KKR
$78.7B
| $52.5M | 3.37% |
1,000,000
| – | – |
2015 Q4
29 quarters
|
|
13
Alibaba
BABA
$276B
| $51.1M | 3.28% |
500,000
| – | – |
2018 Q3
18 quarters
|
|
|
14
ServisFirst Bancshares
SFBS
$4.33B
| $49.4M | 3.17% |
1,807,124
-192,876
| -10% | -$6.46M |
2015 Q4
29 quarters
|
|
15
Carlyle Group
CG
$13.1B
| $46.6M | 2.99% |
1,500,000
| – | – |
2022 Q1
4 quarters
|
|
|
16
Axos Financial
AX
$4.97B
| $44.3M | 2.85% |
1,200,000
+187,763
| +19% | +$8.1M |
2014 Q4
33 quarters
|
|
17
TriCo Bancshares
TCBK
$1.66B
| $42.5M | 2.73% |
1,020,800
+20,000
| +2% | +$964K |
2021 Q3
6 quarters
|
|
18
Goldman Sachs
GS
$260B
| $39.3M | 2.52% |
120,000
| – | – |
2013 Q2
39 quarters
|
|
19
US Bancorp
USB
$89.4B
| $36M | 2.32% |
1,000,000
| – | – |
2014 Q3
34 quarters
|
|
20
Glacier Bancorp
GBCI
$5.7B
| $33.2M | 2.13% |
789,353
| – | – |
2021 Q4
5 quarters
|
|
21
Markel Group
MKL
$22.6B
| $31.9M | 2.05% |
25,000
| – | – |
2021 Q1
8 quarters
|
|
22
Mastercard
MA
$540B
| $30.9M | 1.98% |
85,000
| – | – |
2013 Q2
39 quarters
|
|
23
Raymond James Financial
RJF
$30.3B
| $28M | 1.8% |
300,000
| – | – |
2018 Q1
20 quarters
|
|
|
24
M&T Bank
MTB
$31.6B
| $22.7M | 1.46% |
+190,000
| New | +$27.6M |
2023 Q1
0 quarters
|
|
25
Jones Lang LaSalle
JLL
$14.3B
| $21.8M | 1.4% |
150,000
| – | – |
2020 Q2
11 quarters
|
|
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Davis Asset Management's Q1 2023 Portfolio in Review
As of Q1 2023, Davis Asset Management held 33 positions worth $1.56B, down 13% from $1.79B the previous quarter. Its ten largest holdings account for 56% of the portfolio.
Davis Asset Management withdrew a net $111M in Q1 2023, closing 1 position and reducing 2 holdings. Its most notable exit was Signature Bank, an estimated $127M position sold in full.
By sector, the portfolio is most concentrated in Financials at 77% of assets, down from 82% a quarter earlier, followed by Communication Services and Industrials.
Against the trend, Davis Asset Management opened a new position in M&T Bank worth $22.7M.
- Davis Asset Management's largest Q1 2023 buy was M&T Bank: 190,000 shares worth $22.7M.
- Davis Asset Management added most to Webster Financial in Q1 2023, an estimated $34.6M increase.
- Davis Asset Management's biggest Q1 2023 reduction was Arch Capital, cutting an estimated $65.7M.
- Davis Asset Management fully exited Signature Bank in Q1 2023, selling an estimated $127M.
- Davis Asset Management's ten largest holdings make up 56% of its $1.56B portfolio in Q1 2023.
- Davis Asset Management opened 2 new positions and closed 1 in Q1 2023.
- Davis Asset Management's portfolio value fell 13% quarter-over-quarter to $1.56B.
Based on Davis Asset Management's 13F filing for Q1 2023, filed 11 May 2023.