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Name

As of 06/01/2026

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

Davis Real Estate Fund

DREYX | Fund

$39.85

$124 M

2.77%

$1.12

0.74%

Vitals

YTD Return

6.7%

1 yr return

3.6%

3 Yr Avg Return

5.6%

5 Yr Avg Return

0.1%

Net Assets

$124 M

Holdings in Top 10

45.4%

52 WEEK LOW AND HIGH

$40.4
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.74%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 25.00%

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 06/01/2026

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

Davis Real Estate Fund

DREYX | Fund

$39.85

$124 M

2.77%

$1.12

0.74%

DREYX - Profile

Distributions

  • YTD Total Return 6.7%
  • 3 Yr Annualized Total Return 5.6%
  • 5 Yr Annualized Total Return 0.1%
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 1.11%
DIVIDENDS
  • Dividend Yield 2.8%
  • Dividend Distribution Frequency Quarterly

Fund Details

  • Legal Name
    Davis Real Estate Fund
  • Fund Family Name
    Davis Funds
  • Inception Date
    Feb 25, 1997
  • Shares Outstanding
    N/A
  • Share Class
    Y
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Andrew Davis

Fund Description

div style="line-height:11.0pt;margin-top:0.5pt;text-align:justify;"span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:0%;"Davis Selected Advisers, L.P. (“Davis Advisors” or the “Adviser”), the Fund’s investment adviser, uses the Davis Investment Discipline to invest, under normal market conditions, at least 80% of the Fund’s net assets, plus any borrowing for investment purposes, in securities issued by companies principally engaged in the real estate industry. The Fund invests principally in common stocks of domestic companies and may invest in foreign companies (including indirect holdings of a foreign issuer’s /spanspan style="color:#000000;font-family:Times New Roman;font-size:10pt;"common stock through Depositary Receipts (as defined below))./spanspan style="color:#000000;font-family:Times New Roman;font-size:10pt;line-height:11.0pt;" /span/div div style="line-height:11.0pt;margin-top:6.5pt;text-align:justify;" div style="margin-top:6pt;"span style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:0%;"A company is principally engaged in the real estate industry if it owns real estate or real estate-related assets that constitute at least 50% of the value of all of its assets, or if it derives at least 50% of its revenues or net profits from owning, financing, developing, managing or selling real estate, or from offering products or services that are related to real estate. Issuers of real estate securities include real estate investment trusts (“REITs”), brokers, developers, lenders and companies with substantial real estate holdings, such as paper, lumber, hotel and entertainment companies. Most of the Fund’s real estate securities are, and will likely continue to be, interests in publicly traded REITs. REITs pool investors’ funds to make real estate-related /spanspan style="color:#000000;font-family:Times New Roman;font-size:10pt;"investments, such as buying interests in income-producing property or making loans to real estate developers./span/div /div div style="line-height:11.0pt;margin-top:6.5pt;text-align:justify;" div style="margin-top:6pt;"span style="color:#000000;font-family:Times New Roman;font-size:10pt;font-style:italic;font-weight:bold;margin-left:0%;"Davis Investment Discipline./spanspan style="color:#000000;font-family:Times New Roman;font-size:10pt;" Davis Advisors manages equity funds using the Davis Investment Discipline. Davis Advisors /spanspan style="color:#000000;font-family:Times New Roman;font-size:10pt;margin-left:0%;"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, /spanspan style="color:#000000;font-family:Times New Roman;font-size:10pt;"to raise cash to purchase a more attractive investment opportunity, to satisfy net redemptions, or for other purposes./span/div /div
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DREYX - Performance

Return Ranking - Trailing

Period DREYX Return Category Return Low Category Return High Rank in Category (%)
YTD 6.7% -5.8% 22.0% 79.02%
1 Yr 3.6% -3.3% 21.0% 92.86%
3 Yr 5.6%* -4.7% 13.4% 87.50%
5 Yr 0.1%* -6.5% 7.9% 95.02%
10 Yr 4.2%* -0.5% 11.0% 77.78%

* Annualized

Return Ranking - Calendar

Period DREYX Return Category Return Low Category Return High Rank in Category (%)
2025 -11.8% -32.0% 8.8% 91.96%
2024 -0.2% -33.3% 15.6% 60.71%
2023 9.0% -16.2% 39.0% 36.32%
2022 -30.4% -51.3% 2.5% 47.75%
2021 41.6% -7.7% 52.3% 7.69%

Total Return Ranking - Trailing

Period DREYX Return Category Return Low Category Return High Rank in Category (%)
YTD 6.7% -5.8% 22.0% 79.02%
1 Yr 3.6% -3.3% 21.0% 92.86%
3 Yr 5.6%* -4.7% 13.4% 87.50%
5 Yr 0.1%* -6.5% 7.9% 95.02%
10 Yr 4.2%* -0.5% 11.0% 77.78%

* Annualized

Total Return Ranking - Calendar

Period DREYX Return Category Return Low Category Return High Rank in Category (%)
2025 -5.5% -9.4% 18.5% 96.43%
2024 4.0% -29.6% 17.7% 76.79%
2023 11.7% -12.7% 43.3% 55.61%
2022 -26.6% -40.1% 7.8% 61.71%
2021 43.6% 8.9% 54.6% 27.15%

NAV & Total Return History

DREYX - Holdings

Concentration Analysis

DREYX Category Low Category High DREYX % Rank
Net Assets 124 M 2.03 M 69.9 B 72.02%
Number of Holdings 41 23 692 56.70%
Net Assets in Top 10 53.1 M 537 K 34.9 B 72.32%
Weighting of Top 10 45.38% 18.8% 82.2% 86.16%

Top 10 Holdings

  1. PROLOGIS INC 6.53%
  2. EQUINIX INC 5.58%
  3. BRIXMOR PROPERTY GROUP INC 5.54%
  4. DIGITAL REALTY TRUST INC 4.38%
  5. COUSINS PROPERTIES INC REIT USD1.0 4.25%
  6. AMERICAN TOWER CORP REIT USD.01 4.22%
  7. AVALONBAY COMMUNITIES INC 4.15%
  8. BOSTON PROPERTIES INC 4.02%
  9. REGENCY CENTERS CORP REIT USD.01 3.36%
  10. HEALTHPEAK PROPERTIES INC 3.36%

Asset Allocation

Weighting Return Low Return High DREYX % Rank
Other 		93.71% -81.05% 97.12% 1.79%
Stocks 		5.92% 0.00% 101.52% 95.54%
Cash 		0.36% -42.50% 16.59% 84.82%
Preferred Stocks 		0.00% 0.00% 31.13% 70.98%
Convertible Bonds 		0.00% 0.00% 10.95% 67.26%
Bonds 		0.00% 0.00% 148.40% 70.09%

Stock Sector Breakdown

Weighting Return Low Return High DREYX % Rank
Real Estate 		99.48% 34.46% 100.00% 45.54%
Communication Services 		0.52% 0.00% 11.61% 12.68%
Utilities 		0.00% 0.00% 3.55% 63.38%
Technology 		0.00% 0.00% 12.02% 68.54%
Industrials 		0.00% 0.00% 7.39% 66.20%
Healthcare 		0.00% 0.00% 0.53% 64.79%
Financial Services 		0.00% 0.00% 37.05% 69.48%
Energy 		0.00% 0.00% 33.11% 65.26%
Consumer Defense 		0.00% 0.00% 0.93% 63.38%
Consumer Cyclical 		0.00% 0.00% 45.29% 73.71%
Basic Materials 		0.00% 0.00% 13.69% 65.26%

Stock Geographic Breakdown

Weighting Return Low Return High DREYX % Rank
US 		5.92% 0.00% 101.52% 95.54%
Non US 		0.00% 0.00% 41.39% 69.64%

DREYX - Expenses

Operational Fees

DREYX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.74% 0.07% 8.91% 80.54%
Management Fee 0.55% 0.00% 1.50% 22.32%
12b-1 Fee 0.00% 0.00% 1.00% 17.76%
Administrative Fee N/A 0.01% 0.45% N/A

Sales Fees

DREYX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 3.00% 5.75% N/A
Deferred Load N/A 1.00% 1.00% N/A

Trading Fees

DREYX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 2.00% 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.

DREYX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 25.00% 0.11% 380.00% 29.19%

DREYX - Distributions

Dividend Yield Analysis

DREYX Category Low Category High DREYX % Rank
Dividend Yield 2.77% 0.00% 13.03% 56.70%

Dividend Distribution Analysis

DREYX Category Low Category High Category Mod
Dividend Distribution Frequency Quarterly Annual Quarterly Quarterly

Net Income Ratio Analysis

DREYX Category Low Category High DREYX % Rank
Net Income Ratio 1.11% -1.07% 6.05% 45.25%

Capital Gain Distribution Analysis

DREYX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Semi-Annually Semi-Annually

Distributions History

View More +

DREYX - Fund Manager Analysis

Managers

Andrew Davis

Start Date

Tenure

Tenure Rank

Jan 03, 1994

28.42

28.4%

Andrew A. Davis – Portfolio Manager/Research Analyst Andrew Davis joined Davis Advisors in 1993, and is now the portfolio manager for the Davis Real Estate Securities and Appreciation and Income portfolios. He started in the financial industry in 1985. Previously, he was employed at PaineWebber, Inc. as Vice President managing both its Convertible Security Research and Closed-End Bond Fund Research departments. He is a graduate of Colby College.

Chandler Spears

Start Date

Tenure

Tenure Rank

Aug 08, 2002

19.82

19.8%

Chandler Spears – President, Portfolio Manager/Research Analyst Chandler Spears joined Davis Selected Advisers in November 2000 as a Research Analyst and is now a Portfolio Manager for Davis Real Estate Securities portfolios. Prior to joining the firm, he was Director of Investor Relations at Charles E. Smith Residential, and earlier Director of Real Estate Research at SNL Securities. Mr. Spears received his M.S. from the University of Virginia and his undergraduate degree from James Madison University.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.01 28.42 8.31 2.68

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