Davis Global ADR SMA Portfolio

    Overview

    The Davis Global ADR SMA Portfolio

    Davis Global ADR SMA Portfolio is a portfolio of attractive businesses from around the world 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 Global ADR SMA 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 in the U.S. and abroad, 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.

    Experienced Management:

    Danton Goei: 21 years with Davis Advisors

    Performance as of 9/30/19

    Average Annual Total Returns
    as of September 30, 2019
    Global Equity SMA Composite
    YTD* 1
    Year
    3
    Years
    Since
    Inception
    (10/1/14)
    gross 18.80% -6.52% 7.42% 7.12%
    net 16.19% -9.31% 4.26% 3.97%
    MSCI ACWI Index 16.20% 1.38% 9.71% 6.65%

    * 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

    Geographically Diverse Portfolio

    United States 43.6%
    Asia 30.9%
    Europe 14.6%
    Africa 4.8%
    North & Central America, ex. U.S. 6.1%

    Top Countries

    United States
    China
    United Kingdom
    South Africa
    Canada
    Singapore
    Hong Kong
    Netherlands
    Denmark
    Bermuda

    Sector Breakdown

    Portfolio MSCI ACWI®
    Consumer Discretionary 33.8% 10.8%
    Financials 29.6% 17.3%
    Communication Services 11.0% 8.8%
    Industrials 10.4% 10.5%
    Information Technology 9.5% 15.7%
    Energy 5.7% 5.5%
    Health Care 0.0% 11.3%
    Consumer Staples 0.0% 8.6%
    Materials 0.0% 4.7%
    Utilities 0.0% 3.5%
    Real Estate 0.0% 3.3%

    Market Cap Breakdown

    Portfolio MSCI ACWI®
    Less than $3 Billion 11.7% 0.9%
    $3–10 Billion 12.4% 9.8%
    Greater than $10 Billion 75.9% 89.3%

    Portfolio Characteristics

    Portfolio MSCI ACWI®
    Number of Holdings 31 2,850
    Median Market Cap ($bn) 46.1 9.1
    Weighted Average Market Cap ($bn) 212.7 157.4

    Top 10 Holdings

    Alibaba Group Holding China The world’s largest and most valuable retailer, with operations in over 200 countries and a dominant position in the e-commerce market
    Alphabet United States Dominant global on-line search and advertising company
    New Oriental Education & Technology China Largest provider of private education services in China
    Wells Fargo United States One of the largest banks in the U.S.
    Amazon.com United States An e-commerce giant within the retail industry
    Ferguson United Kingdom Largest U.S. wholesale distributor of plumbing, heating, and water products.
    Naspers South Africa Media conglomerate that holds interests in a range of e-commerce businesses around the world, including Tencent
    Capital One Financial United States Top 10 U.S. bank with $240+ bn of deposits
    JD.com China One of the largest e-commerce businesses in mainland China offering a range of goods such as consumer electronics and appliances
    Applied Materials United States An industry-leading producer of semiconductor fabrication tools.

    Click here for quarter-end holdings  

    Literature

    Insights into the Portfolio
    Davis Global ADR 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.

    Fact Sheet Download

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

    Quarterly Review Book: Davis Global ADR 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 Global Portfolio is represented by Davis Advisors’ Global SMA Composite. See Performance disclosure for a description of the Composite.


    1As of June 30, 2019.

    2Gross of fees. Past performance is not a guarantee of future results.


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