Name
As of 11/01/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Vitals
YTD Return
15.1%
1 yr return
25.5%
3 Yr Avg Return
6.2%
5 Yr Avg Return
10.4%
Net Assets
$233 M
Holdings in Top 10
48.0%
52 WEEK LOW AND HIGH
Expenses
OPERATING FEES
Expense Ratio 0.68%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 19.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$5,000,000
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 11/01/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
DCSYX - Profile
Distributions
- YTD Total Return 15.1%
- 3 Yr Annualized Total Return 6.2%
- 5 Yr Annualized Total Return 10.4%
- Capital Gain Distribution Frequency N/A
- Net Income Ratio 0.73%
- Dividend Yield 1.9%
- Dividend Distribution Frequency Quarterly
Fund Details
-
Legal NameDavis Appreciation & Income Fund
-
Fund Family NameDavis Funds
-
Inception DateFeb 25, 1997
-
Shares OutstandingN/A
-
Share ClassY
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerChristopher Davis
Fund Description
Davis Selected Advisers, L.P. (“Davis Advisors” or the “Adviser”), the Fund’s investment adviser, uses the Davis Investment Discipline to invest Davis Appreciation & Income Fund’s assets in a balanced portfolio of common stock, convertible securities, preferred stock and bonds. The Fund may also hold cash. The Fund may invest in large, medium or small companies without regard to market capitalization and may invest in securities issued by either domestic or foreign companies.
The Fund’s investments in common stock issued by companies across the spectrum of market capitalizations are purchased primarily for their growth potential. Fixed income securities, consisting of both investment grade and high-yield, high-risk debt securities (“junk bonds”), are purchased both for current income and to provide diversification. Convertible securities, which include both preferred stock and bonds and may be “converted” into common stock if the company grows, offer both growth potential, some income and may provide downside protection. In the current market, Davis Advisors’ portfolio managers expect to continue investing a significant portion of the Fund’s assets in convertible securities.
Davis Investment Discipline. Davis Advisors manages equity funds using the Davis Investment Discipline. Davis Advisors conducts extensive research to try to identify businesses that possess characteristics that Davis Advisors believes foster the creation of long-term value, such as proven management, a durable franchise and business model, and sustainable competitive advantages. Davis Advisors aims to invest in such businesses when they are trading at discounts to their intrinsic worth. Davis Advisors emphasizes individual stock selection and believes that the ability to evaluate management is critical. Davis Advisors routinely visits managers at their places of business in order to gain insight into the relative value of different businesses. Such research, however rigorous, involves predictions and forecasts that are inherently uncertain. After determining which companies Davis Advisors believes the Fund should own, Davis Advisors then turns its analysis to determining the intrinsic value of those companies’ equity securities. Davis Advisors seeks companies whose equity securities can be purchased at a discount from Davis Advisors’ estimate of the company’s intrinsic value based upon fundamental analysis of cash flows, assets and liabilities, and other criteria that Davis Advisors deems to be material on a company-by-company basis. Davis Advisors’ goal is to invest in companies for the long term (ideally, five years or longer, although this goal may not be met). Davis Advisors considers selling a company’s equity securities if the securities’ market price exceeds Davis Advisors’ estimates of intrinsic value, if the ratio of the risks and rewards of continuing to own the company’s equity securities is no longer attractive, to raise cash to purchase a more attractive investment opportunity, to satisfy net redemptions or for other purposes.
DCSYX - Performance
Return Ranking - Trailing
Period | DCSYX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 15.1% | 1.1% | 20.1% | 9.59% |
1 Yr | 25.5% | 5.7% | 33.3% | 8.22% |
3 Yr | 6.2%* | -10.6% | 10.4% | 4.23% |
5 Yr | 10.4%* | 1.1% | 12.6% | 5.30% |
10 Yr | 7.4%* | 0.5% | 11.3% | 41.47% |
* Annualized
Return Ranking - Calendar
Period | DCSYX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 19.3% | -6.9% | 29.3% | 0.69% |
2022 | -17.8% | -37.4% | -8.2% | 24.30% |
2021 | 25.4% | -9.8% | 25.4% | 0.36% |
2020 | 3.8% | -21.0% | 25.4% | 73.11% |
2019 | 17.9% | -8.3% | 27.9% | 23.35% |
Total Return Ranking - Trailing
Period | DCSYX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 15.1% | 1.1% | 20.1% | 9.59% |
1 Yr | 25.5% | 5.7% | 33.3% | 8.22% |
3 Yr | 6.2%* | -10.6% | 10.4% | 4.23% |
5 Yr | 10.4%* | 1.1% | 12.6% | 5.30% |
10 Yr | 7.4%* | 0.5% | 11.3% | 41.47% |
* Annualized
Total Return Ranking - Calendar
Period | DCSYX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 23.4% | -0.9% | 33.0% | 0.69% |
2022 | -15.4% | -36.0% | -0.9% | 36.27% |
2021 | 26.1% | -7.8% | 33.9% | 3.23% |
2020 | 5.1% | -16.2% | 25.4% | 84.85% |
2019 | 20.7% | 7.3% | 34.8% | 66.93% |
NAV & Total Return History
DCSYX - Holdings
Concentration Analysis
DCSYX | Category Low | Category High | DCSYX % Rank | |
---|---|---|---|---|
Net Assets | 233 M | 1.41 M | 120 B | 81.16% |
Number of Holdings | 55 | 4 | 2696 | 34.25% |
Net Assets in Top 10 | 119 M | 1.28 M | 27.7 B | 81.85% |
Weighting of Top 10 | 48.05% | 19.7% | 118.4% | 68.49% |
Top 10 Holdings
- BERKSHIRE HATHAWAY INC CL B 8.04%
- APPLIED MATERIALS INC 6.57%
- CAPITAL ONE FINANCIAL CORP 5.41%
- AMAZON.COM INC 5.34%
- HUMANA INC 4.17%
- WELLS FARGO + CO 4.16%
- QUEST DIAGNOSTICS INC COMMON STOCK USD.01 4.10%
- VIATRIS INC COMMON STOCK 3.78%
- STONEX REPO REPO - 01Jul24 3.59%
- OWENS CORNING COMMON STOCK USD.001 2.90%
Asset Allocation
Weighting | Return Low | Return High | DCSYX % Rank | |
---|---|---|---|---|
Stocks | 78.95% | 0.00% | 100.07% | 67.12% |
Bonds | 14.53% | 0.00% | 102.71% | 22.95% |
Other | 6.41% | -0.31% | 28.56% | 4.45% |
Cash | 0.11% | 0.00% | 89.93% | 69.52% |
Preferred Stocks | 0.00% | 0.00% | 16.57% | 100.00% |
Convertible Bonds | 0.00% | 0.00% | 26.48% | 100.00% |
Stock Sector Breakdown
Weighting | Return Low | Return High | DCSYX % Rank | |
---|---|---|---|---|
Financial Services | 52.80% | 0.28% | 52.80% | 1.03% |
Technology | 20.38% | 3.31% | 52.93% | 41.03% |
Communication Services | 10.12% | 0.00% | 26.62% | 14.14% |
Healthcare | 10.10% | 0.00% | 36.30% | 89.31% |
Consumer Cyclical | 5.43% | 0.00% | 16.01% | 85.86% |
Industrials | 1.16% | 1.16% | 32.55% | 100.00% |
Utilities | 0.00% | 0.00% | 31.67% | 100.00% |
Real Estate | 0.00% | 0.00% | 33.86% | 100.00% |
Energy | 0.00% | 0.00% | 29.22% | 100.00% |
Consumer Defense | 0.00% | 0.00% | 14.86% | 100.00% |
Basic Materials | 0.00% | 0.00% | 11.49% | 100.00% |
Stock Geographic Breakdown
Weighting | Return Low | Return High | DCSYX % Rank | |
---|---|---|---|---|
US | 69.85% | 0.00% | 100.07% | 71.23% |
Non US | 9.10% | 0.00% | 21.17% | 11.99% |
Bond Sector Breakdown
Weighting | Return Low | Return High | DCSYX % Rank | |
---|---|---|---|---|
Securitized | 30.00% | 0.00% | 37.97% | 7.24% |
Corporate | 29.97% | 0.00% | 98.43% | 53.10% |
Government | 4.04% | 0.00% | 99.71% | 84.83% |
Derivative | 0.00% | -0.45% | 28.56% | 85.96% |
Cash & Equivalents | 0.00% | 0.00% | 83.14% | 100.00% |
Municipal | 0.00% | 0.00% | 17.02% | 100.00% |
Bond Geographic Breakdown
Weighting | Return Low | Return High | DCSYX % Rank | |
---|---|---|---|---|
US | 14.53% | 0.00% | 102.71% | 22.95% |
Non US | 0.00% | 0.00% | 1.68% | 100.00% |
DCSYX - Expenses
Operational Fees
DCSYX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 0.68% | 0.04% | 4.67% | 77.74% |
Management Fee | 0.55% | 0.00% | 1.25% | 75.68% |
12b-1 Fee | 0.00% | 0.00% | 1.00% | 12.21% |
Administrative Fee | N/A | 0.01% | 0.28% | N/A |
Sales Fees
DCSYX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | N/A | 2.00% | 5.75% | N/A |
Deferred Load | N/A | 1.00% | 5.00% | N/A |
Trading Fees
DCSYX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | N/A | 0.00% | 2.00% | N/A |
Related Fees
Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.
DCSYX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 19.00% | 4.00% | 236.00% | 34.42% |
DCSYX - Distributions
Dividend Yield Analysis
DCSYX | Category Low | Category High | DCSYX % Rank | |
---|---|---|---|---|
Dividend Yield | 1.92% | 0.00% | 10.22% | 29.11% |
Dividend Distribution Analysis
DCSYX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Quarterly | Annual | Quarterly | Annual |
Net Income Ratio Analysis
DCSYX | Category Low | Category High | DCSYX % Rank | |
---|---|---|---|---|
Net Income Ratio | 0.73% | -1.12% | 6.07% | 69.96% |
Capital Gain Distribution Analysis
DCSYX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Semi-Annually | Annually |
Distributions History
Date | Amount | Type |
---|---|---|
Sep 26, 2024 | $0.298 | OrdinaryDividend |
Jun 14, 2024 | $0.249 | OrdinaryDividend |
Apr 01, 2024 | $0.246 | OrdinaryDividend |
Dec 27, 2023 | $0.269 | OrdinaryDividend |
Dec 27, 2023 | $0.067 | CapitalGainShortTerm |
Dec 27, 2023 | $0.740 | CapitalGainLongTerm |
Sep 27, 2023 | $0.293 | OrdinaryDividend |
Jun 27, 2023 | $0.187 | OrdinaryDividend |
Mar 29, 2023 | $0.189 | OrdinaryDividend |
Dec 28, 2022 | $0.991 | OrdinaryDividend |
Oct 03, 2022 | $0.167 | OrdinaryDividend |
Jun 28, 2022 | $0.100 | OrdinaryDividend |
Apr 01, 2022 | $0.103 | OrdinaryDividend |
Dec 29, 2021 | $0.081 | OrdinaryDividend |
Oct 01, 2021 | $0.075 | OrdinaryDividend |
Jun 23, 2021 | $0.071 | OrdinaryDividend |
Apr 01, 2021 | $0.097 | OrdinaryDividend |
Dec 29, 2020 | $0.122 | OrdinaryDividend |
Oct 01, 2020 | $0.117 | OrdinaryDividend |
Jun 25, 2020 | $0.117 | OrdinaryDividend |
Apr 01, 2020 | $0.117 | OrdinaryDividend |
Dec 27, 2019 | $0.463 | OrdinaryDividend |
Dec 27, 2019 | $0.090 | CapitalGainLongTerm |
Oct 01, 2019 | $0.183 | OrdinaryDividend |
Jun 26, 2019 | $0.134 | OrdinaryDividend |
Apr 01, 2019 | $0.132 | OrdinaryDividend |
Dec 27, 2018 | $0.210 | OrdinaryDividend |
Oct 01, 2018 | $0.097 | OrdinaryDividend |
Jun 27, 2018 | $0.125 | OrdinaryDividend |
Apr 02, 2018 | $0.098 | OrdinaryDividend |
Dec 27, 2017 | $0.123 | OrdinaryDividend |
Oct 02, 2017 | $0.112 | OrdinaryDividend |
Jun 28, 2017 | $0.110 | OrdinaryDividend |
Apr 03, 2017 | $0.113 | OrdinaryDividend |
Dec 28, 2016 | $0.169 | OrdinaryDividend |
Oct 03, 2016 | $0.097 | OrdinaryDividend |
Jul 01, 2016 | $0.093 | OrdinaryDividend |
Apr 01, 2016 | $0.095 | OrdinaryDividend |
Dec 29, 2015 | $0.119 | OrdinaryDividend |
Oct 01, 2015 | $0.109 | OrdinaryDividend |
Jul 01, 2015 | $0.117 | OrdinaryDividend |
Apr 01, 2015 | $0.102 | OrdinaryDividend |
Dec 29, 2014 | $0.057 | OrdinaryDividend |
Oct 01, 2014 | $0.120 | OrdinaryDividend |
Jul 01, 2014 | $0.118 | OrdinaryDividend |
Apr 01, 2014 | $0.124 | OrdinaryDividend |
Dec 27, 2013 | $0.102 | OrdinaryDividend |
Oct 01, 2013 | $0.125 | OrdinaryDividend |
Jul 01, 2013 | $0.123 | OrdinaryDividend |
Apr 01, 2013 | $0.105 | OrdinaryDividend |
Dec 27, 2012 | $0.175 | OrdinaryDividend |
Oct 01, 2012 | $0.114 | OrdinaryDividend |
Jul 02, 2012 | $0.116 | OrdinaryDividend |
Apr 02, 2012 | $0.112 | OrdinaryDividend |
Dec 29, 2011 | $0.204 | OrdinaryDividend |
Oct 03, 2011 | $0.102 | OrdinaryDividend |
Jul 01, 2011 | $0.108 | OrdinaryDividend |
Apr 01, 2011 | $0.105 | OrdinaryDividend |
Dec 30, 2010 | $0.147 | OrdinaryDividend |
Oct 01, 2010 | $0.103 | OrdinaryDividend |
Jul 01, 2010 | $0.105 | OrdinaryDividend |
Apr 01, 2010 | $0.107 | OrdinaryDividend |
Dec 30, 2009 | $0.183 | OrdinaryDividend |
Oct 01, 2009 | $0.094 | OrdinaryDividend |
Jul 01, 2009 | $0.094 | OrdinaryDividend |
Apr 01, 2009 | $0.093 | OrdinaryDividend |
Dec 30, 2008 | $0.069 | OrdinaryDividend |
Oct 01, 2008 | $0.178 | OrdinaryDividend |
Jul 01, 2008 | $0.180 | OrdinaryDividend |
Apr 01, 2008 | $0.179 | OrdinaryDividend |
Dec 28, 2007 | $0.137 | OrdinaryDividend |
Dec 03, 2007 | $0.419 | CapitalGainShortTerm |
Dec 03, 2007 | $0.908 | CapitalGainLongTerm |
Oct 01, 2007 | $0.183 | OrdinaryDividend |
Jul 02, 2007 | $0.183 | OrdinaryDividend |
Apr 02, 2007 | $0.180 | OrdinaryDividend |
Dec 28, 2006 | $0.152 | OrdinaryDividend |
Dec 01, 2006 | $0.036 | CapitalGainShortTerm |
Dec 01, 2006 | $1.751 | CapitalGainLongTerm |
Oct 02, 2006 | $0.189 | OrdinaryDividend |
Jul 03, 2006 | $0.189 | OrdinaryDividend |
Apr 03, 2006 | $0.189 | OrdinaryDividend |
Dec 29, 2005 | $0.099 | OrdinaryDividend |
Dec 01, 2005 | $0.641 | CapitalGainLongTerm |
Oct 03, 2005 | $0.198 | OrdinaryDividend |
Jul 01, 2005 | $0.197 | OrdinaryDividend |
Apr 01, 2005 | $0.195 | OrdinaryDividend |
Dec 30, 2004 | $0.111 | OrdinaryDividend |
Oct 01, 2004 | $0.204 | OrdinaryDividend |
Jul 01, 2004 | $0.204 | OrdinaryDividend |
Apr 01, 2004 | $0.203 | OrdinaryDividend |
Dec 30, 2003 | $0.147 | OrdinaryDividend |
Oct 01, 2003 | $0.212 | OrdinaryDividend |
Jul 01, 2003 | $0.211 | OrdinaryDividend |
Apr 01, 2003 | $0.210 | OrdinaryDividend |
Dec 30, 2002 | $0.210 | OrdinaryDividend |
Oct 01, 2002 | $0.210 | OrdinaryDividend |
Jul 01, 2002 | $0.211 | OrdinaryDividend |
Apr 01, 2002 | $0.211 | OrdinaryDividend |
Dec 28, 2001 | $0.200 | OrdinaryDividend |
Oct 01, 2001 | $0.211 | OrdinaryDividend |
Jul 02, 2001 | $0.211 | OrdinaryDividend |
Apr 02, 2001 | $0.212 | OrdinaryDividend |
Dec 28, 2000 | $0.261 | OrdinaryDividend |
Nov 30, 2000 | $0.190 | CapitalGainLongTerm |
Oct 02, 2000 | $0.212 | OrdinaryDividend |
Jul 03, 2000 | $0.218 | OrdinaryDividend |
Apr 03, 2000 | $0.222 | OrdinaryDividend |
Dec 30, 1999 | $0.190 | OrdinaryDividend |
Dec 01, 1999 | $0.770 | CapitalGainShortTerm |
Oct 01, 1999 | $0.222 | OrdinaryDividend |
Jul 01, 1999 | $0.222 | OrdinaryDividend |
Apr 01, 1999 | $0.220 | OrdinaryDividend |
Dec 30, 1998 | $0.202 | OrdinaryDividend |
Dec 30, 1998 | $0.270 | CapitalGainLongTerm |
Oct 01, 1998 | $0.219 | OrdinaryDividend |
Jul 01, 1998 | $0.216 | OrdinaryDividend |
Apr 01, 1998 | $0.213 | OrdinaryDividend |
Dec 30, 1997 | $1.371 | OrdinaryDividend |
Dec 30, 1997 | $0.060 | CapitalGainShortTerm |
Dec 30, 1997 | $0.440 | CapitalGainLongTerm |
Oct 01, 1997 | $0.211 | OrdinaryDividend |
Jul 01, 1997 | $0.205 | OrdinaryDividend |
Apr 01, 1997 | $0.205 | OrdinaryDividend |
DCSYX - Fund Manager Analysis
Managers
Christopher Davis
Start Date
Tenure
Tenure Rank
Jul 01, 2016
5.92
5.9%
Christopher Davis, Portfolio Manager, is a research analyst and Chair of the Portfolio Review Committee which oversees the management of the Davis Global, International and All-Cap Strategies. Mr. Davis with Danton Goei is Portfolio Manager for all large cap equity and concentrated equity portfolios. Mr. Davis joined the firm in 1989 after working as a securities analyst. He received his M.A. from the University of St. Andrews in Scotland.
Creston King
Start Date
Tenure
Tenure Rank
Jul 01, 2016
5.92
5.9%
Mr. King is a portfolio manager with Davis Selected Advisors, his employer since 1999. Previously, he was a portfolio manager at U.S. Global Advisors from 1993 to 1999. Prior to that, he served as a broker at Southwest Securities for one year. Mr. King holds the Chartered Financial Analyst designation.
Darin Prozes
Start Date
Tenure
Tenure Rank
Oct 25, 2021
0.6
0.6%
Darin Prozes - Vice President, Research Analyst Darin Prozes joined Davis Advisors in 2004. Prior to joining Davis, Mr. Prozes worked as a Senior Associate at The Parthenon Group, a strategy consulting firm with offices in Boston and San Francisco. He holds an M.B.A. from the Stanford Graduate School of Business and a B.A. from Princeton University.
Tenure Analysis
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.08 | 38.44 | 7.38 | 2.41 |