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| Quarter | Letter Date | Fund Name | QTD | YTD | Tickers | Keywords/Themes | Theme Commentary | Pitches | Letter |
|---|---|---|---|---|---|---|---|---|---|
| 2025 Q2 | Aug 25, 2025 | Davis Global Fund | - | 14.1% | 005930 KS, 3690 HK, 8001 JP, APP, COF, DSN GR, META, NTES, SOLV, TCOM, VTRS | durability, earnings growth, Global Equities, selectivity, Valuation discipline | The letter emphasizes selective global investing amid high aggregate valuations. Management focuses on competitively advantaged companies with strong management and attractive earnings growth trading below market multiples. The outlook favors staying invested while avoiding overvalued segments of the market. | 8001 JP NTES SOLV |
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| 2025 Q4 | Jan 26, 2026 | Davis Opportunity Fund | 0.0% | 22.0% | AMAT, AMZN, COF, CTRA, CVS, DGX, GOOGL, META, MKL, SOLV, TECK, UNH, USB, VTRS, WCC | active management, energy, financials, healthcare, Outperformance, selectivity, technology, valuation | Davis advocates for active management over passive indexing given stretched valuations in major indexes. They believe active managers can be selective at the security level and maintain rational diversification, contrasting with passive indexes where weightings are determined by share price momentum. The fund was opportunistic in healthcare throughout 2025, investing decisively in managed care insurers when operating costs surged unexpectedly. They believe these businesses traded at low multiples on depressed earnings with good recovery potential, as small margin improvements can translate into large percentage increases in earnings power. Holdings span social media, online search, cloud computing and e-commerce including select Magnificent 7 positions. They also own semiconductor companies at reasonable valuations, including picks and shovels businesses like Applied Materials with strong competitive positions and long track records of value creation. The portfolio looks different from major passive indexes in financials. Capital One Financial is a core holding with strong consumer finance, deposit-rich banking, and payment processing capabilities. It trades at only 13-14 times forward earnings despite attractive economics and is the fifth-largest holder of AI-related patents among major US companies. The fund owns stakes in energy and commodities companies that they have been quietly building. Coterra represents their energy business holdings, while Teck Resources reflects interest in select commodities like copper that serve as critical inputs to the electrification trend. | WCC COF UNH |
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| 2023 Q1 | Apr 14, 2023 | Miller Value Partners Income Strategy | 11.7% | 11.7% | HEI GR, JXN, MPW, MSTR, VONOY, VTRS | - | View | ||
| 2023 Q4 | Jan 22, 2024 | Greenlight Capital | 1.1% | 9.0% | ALIT, CEIX, GRBK, KD, SWN, SYENS BB, THC, VTRS, VTSC GR | - | View |
| Date | Pitch Type | Author | Company | Industry | Sub Industry | Bull / Bear | Stock Exchange | Keywords | Action |
|---|---|---|---|---|---|---|---|---|---|
| No pitches found. | |||||||||
| Manager Name | Fund Name | Fund AUM | Invested Value | Portfolio Weight | Shares Owned | Shares Bought / Sold During Quarter | % Bought / Sold During Quarter | % of Shares Outstanding Owned |
|---|---|---|---|---|---|---|---|---|
| No investor data available. | ||||||||