Davis All-Cap SMA Portfolio

    Overview

    Investment Strategy

    The goal of the Davis All-Cap SMA Portfolio is to create an opportunistic portfolio that can seek attractive businesses across all market caps, industries and sectors.

    Using our signature Davis Investment Discipline, the Portfolio has outperformed the S&P 1500® Index since Davis began managing the Portfolio (gross of fees)1  Click here to learn more about our historical record of attractive long-term returns.

    Why Invest in the Davis All-Cap SMA Portfolio

    Sixty Years of Experience

    The Davis family has compounded wealth for investors over six decades and three generations.

    Long-Term Investment Results

    The Davis All-Cap SMA Portfolio has outperformed the S&P 1500® Index by an average of 2.2% per year since Davis began managing the Portfolio. A hypothetical $100,000 investment in the Portfolio on January 1, 1999 compounded to $587,001 as of September 30, 2019 vs. only $384,839 for the S&P 1500® Index (Gross of fees. See below for net of fee returns).1

    Aligned with Shareholders

    With more than $2 billion invested side by side with fellow shareholders, we experience the same risks and reap the same rewards.2

    Performance as of 9/30/19

    A hypothetical $100,000 investment in the Davis All-Cap Portfolio on January 1, 1999  compounded to $587,001 as of September 30, 2019 vs. only $384,839 for the S&P 1500® Index.

    Average Annual Total Returns
    as of September 30, 2019
    All-Cap Portfolio
    YTD* 1
    Year
    3
    Years
    5
    Years
    7
    Years
    10
    Years
    Since
    Inception
    (1/1/99)
    gross 17.37% -7.19% 7.09% 7.84% 12.28% 11.57% 8.92%
    with a 3% maximum wrap fee 14.80% -9.96% 3.93% 4.66% 8.99% 8.30% 6.51%

    * 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 9/30/19

    Portfolio Composition

    Davis All-Cap Portfolio S&P 1500®
    Index
    Forecast P/E Ratio 15.1 18.2
    P/B Ratio 2.4 3.6
    Weighted Average Market Cap ($bn) 196.7 220.8
    Beta (3 year) 1.3 1.0
    Standard Deviation (5 year) 14.5 11.1
    Number of Holdings 33 1,506
    Turnover 31.2 5.4

    Market Capitalization

    Small Cap 4.2%
    Mid Cap 14.7%
    Large Cap 81.1%

    Top Industries

    Health Care 20.3%
    Financials 18.2%
    Industrials 17.7%
    Information Technology 14.7%
    Energy 10.6%
    Consumer Discretionary 10.0%
    Communication Services 8.5%

    Top 10 Holdings

    Alphabet 7.0%
    Quest Diagnostics 7.0%
    United Technologies 7.0%
    Wells Fargo 5.9%
    Amazon.com, Inc. 5.1%
    UnitedHealth Group 4.8%
    Encana 4.5%
    Capital One Financial 4.0%
    Humana Inc 3.8%
    Apache 3.5%

    Click here for quarter-end holdings  

    Literature

    Insights into the Portfolio
    Fact Sheet Download

    Goals of the Portfolio, top holdings, characteristics and Portfolio attributes. 

    Davis All Cap SMA: Selective. Attractive Growth. Undervalued. Download

    Our companies are rigorously researched, offer attractive growth and yet are significantly undervalued versus the benchmark – A powerful combination.

    Quarterly Review Book: Davis Large Cap Value SMA Download

    A comprehensive quarterly update on the Portfolio, including commentary on investment strategy, performance and Portfolio statistics, and holdings.

    Portfolio Commentaries
    Portfolio Commentary - Fall Update 2019 Download View

    A quarterly discussion of the market environment, Portfolio performance, major positions, and investment opportunities.

    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 All-Cap Portfolio is represented by Davis Advisors’ Multi-Cap SMA Composite. See Performance disclosure for a description of the Composite.


    1Gross of fees. These figures would be lower if fees were included. Davis began managing the portfolio on 1/1/99. Past performance is not a guarantee of future results.

    2As of June 30, 2019.


    Davis Distributors, LLC, 2949 East Elvira Road, Suite 101, Tucson, AZ 85756