Davis International Portfolio
|Results from Inception through 12/31/16|
|International Equity SMA Composite (Gross)||-1.85%|
|MSCI ACWI-ex US® Index||-2.36%|
|International Equity SMA Composite (Net of fees)||-4.76%|
The Davis International Portfolio
Davis International is a portfolio of attractive businesses from outside of the U.S. selected using the time-tested Davis Investment Discipline. As the largest investor in the strategy, we have a unique commitment to client stewardship.1
Why Invest in the Davis International Portfolio
Equity-Focused Research Firm:
Established in 1969, Davis is a leading specialist in equity investing. Our primary focus on equity research and unique investment discipline has built wealth for our clients over the long term.
Portfolio of Best of Breed Businesses:
The Portfolio invests in businesses outside of the U.S. from both developed and developing markets. Utilizing rigorous independent research, we invest in durable, well-managed businesses with sustainable competitive advantages and attractive long-term growth prospects, selling at a discount to their true value.
Flexible, Opportunistic Approach:
We believe a bottom-up stock selection process and not mirroring the benchmark index are keys to long-term outperformance.
We Are Among the Largest Investors:1
We have a unique commitment to stewardship, generating attractive long-term results, managing risks and minimizing fees.
Danton Goei: 18 years with Davis Advisors
Performance as of 12/31/16
|Average Annual Total Returns
as of December 31, 2016
International Equity SMA Composite
|MSCI ACWI ex US Index||-1.25%||4.50%||-2.36%|
* YTD is not annualized.
The performance presented represents past performance and is not a guarantee of future results. Total return assumes reinvestment of dividends and capital gain distributions. Investment return and principal value will vary so that, when redeemed, an investor’s account may be worth more or less than their original cost. Current performance may be higher or lower. Total return updates are available quarterly. Please ask your financial advisor to contact Davis Advisors.
Portfolio Characteristics as of 12/31/16
Geographically Diverse Portfolio
Top 10 Countries
Market Cap Breakdown
|Less than $3 Billion||21.2%||2.4%|
|Greater than $10 Billion||62.9%||77.2%|
|Number of Holdings||26||1,855|
|Median Market Cap ($bn)||9.7||6.7|
|Weighted Average Market Cap ($bn)||46.7||49.3|
|Dividend Yield (%)||1.0||2.9|
Top 10 Holdings
|Encana Corp.||Canada||Canadian-based energy exploration and production company with properties in Canada and the U.S.|
|Naspers, ADR||South Africa||A media conglomerate that operates a leading pay television business in South and Sub-Saharan Africa and holds interests in a range of e-commerce businesses around the world|
|Safran S.A.||France||Leading manufacturer of jet engines|
|LafargeHolcim, ADR||France||The world’s largest cement company with operations spanning the developed and developing worlds|
|JD.com Inc., Class A, ADR||China||One of the largest e-commerce businesses in mainland China offering a range of goods such as consumer electronics and appliances|
|Schneider Electric SE||France||A global specialist in energy management|
|Novartis AG - ADR||Switzerland||A diversified health care company that manufacturers pharmaceuticals and eye care products|
|Roche Holding AG - Genusschein||Switzerland||A global leader in pharmaceuticals and biotech|
|Noah Holdings Ltd., ADR||China||A leading Chinese wealth management company founded in 2005 with offices primarily in areas with high concentrations of domestic wealth|
|Vipshop Holdings Ltd - ADR||China||A leading online retailer of discounted close-out merchandise serving mainland China|
Click here for quarter-end holdings
|Insights into the Portfolio|
|Fact Sheet||Download Share||Goals of the Portfolio, top holdings, characteristics and Portfolio attributes.|
This material may be shared with existing and potential clients to provide information concerning market conditions and the investment strategies and techniques used by Davis Advisors to manage its client accounts. Please refer to Davis Advisors Form ADV Part 2 for more information regarding investment strategies, risks, fees, and expenses. Clients should also review other relevant material, including a schedule of investments listing securities held in their account.
The Davis International Portfolio is represented by Davis Advisors’ International SMA Composite. See Performance disclosure for a description of the Composite.
1As of December 31, 2016.
2Gross of fees. Past performance is not a guarantee of future results.
Davis Distributors, LLC, 2949 East Elvira Road, Suite 101, Tucson, AZ 85756