Overview

Investment Strategy

The goal of the Davis Global Equity strategy is to provide a unique, actively managed solution for investors seeking to access highly durable, well-managed businesses in the U.S. and abroad in both developed and developing markets.
 
Our Portfolio represents our highest conviction ideas in companies with long-term competitive advantages as well as strong and resilient earnings power. Based on our rigorous fundamental research, we seek to purchase companies at value prices and hold them for the long term.
 
Given our high conviction, benchmark agnostic approach, we believe the research-intensive Davis Global Equity strategy merits consideration by institutional investors seeking truly active strategies.
 
Drawing upon over 50 years of experience in the business, our approach can make Davis Global Equity a potential foundation for diversified equity portfolios.

Portfolio Manager

Danton G. Goei
30 Years Industry Experience
28 Years at Davis Advisors
View Bio

Resources

Document
Factsheet
Performance Update

Performance as of 9/30/26

Average Annual Returns

Portfolio 3Q26 1 Yr 3 Yr 5 Yr 10 Yr Incep
Global Equity (Gross) -3.72% 0.26% 19.37% 9.51% 10.33% 9.11%
Global Equity (Net) -3.80% -0.15% 18.94% 9.10% 9.89% 8.56%
MSCI ACWI 1.60% 16.75% 21.71% 11.57% 12.37% 8.62%

The performance presented represents past performance and is not a guarantee of future results. Total return assumes reinvestment of dividends. Investment return and principal value will vary so that an investor may lose money. Current performance may be higher or lower. The investment strategies described herein are those of Davis Advisors. These materials are being provided for illustrative and informational purposes only. The information contained herein is obtained from multiple sources that are believed to be reliable. However, such information has not been verified, and may be different from the information included in documents and materials created by the sponsor firm in whose investment program a client participates. Some sponsor firms may require that these materials are preceded or accompanied by investment profiles or other documents or materials prepared by such sponsor firms, which will be provided upon a client’s request. For additional information, documents and/or materials, please speak to your Financial Advisor. For additional information, documents and/or materials, please speak to your Financial Advisor. Davis Advisors fee schedules are described in Part 2 of its Form ADV.

Portfolio Characteristics as of 9/30/26

Portfolio Composition

Item Global Equity Portfolio MSCI ACWI®
P/E (Forward) 11.4x 18.6x
5 Year Earnings Growth 28.5% 26.4%
P/B Ratio 2.8 4.2
Beta 0.9% 1.0%
Number of Holdings 36 2412
Weighted Average Market Cap ($bn) 236.5 1,055.8
Median Market Cap ($bn) 27.9 17.9

Portfolio Holdings

Top 10 Holdings: Quarterly (as of 9/30/26)

Holding Ticker Global Equity MSCI ACWI®
Full Truck Alliance YMM 6.0% < 0.1%
Trip.com Group TCOM 5.4% —
Devon Energy DVN 5.3% 0.1%
Sea SE 4.8% < 0.1%
Julius Baer Group BAER SE 4.7% < 0.1%
Viatris VTRS 4.6% —
JBS JBS 4.5% —
Meta Platforms META 3.8% 1.6%
Prosus PRX 3.8% 0.1%
Capital One Financial COF 3.6% 0.1%
Total 46.5% 1.8%

All Holdings: Quarterly (as of 9/30/26)

Holding Ticker Global Equity MSCI ACWI®
Full Truck Alliance YMM 6.0% < 0.1%
Trip.com Group TCOM 5.4% —
Devon Energy DVN 5.3% 0.1%
Sea SE 4.8% < 0.1%
Julius Baer Group BAER SE 4.7% < 0.1%
Viatris VTRS 4.6% —
JBS JBS 4.5% —
Meta Platforms META 3.8% 1.6%
Prosus PRX 3.8% 0.1%
Capital One Financial COF 3.6% 0.1%
CVS Health CVS 3.3% 0.1%
DiDi Global DIDIY 3.3% —
MGM Resorts MGM 3.2% —
AppLovin APP 3.2% 0.1%
Solventum SOLV 3.0% —
Amazon.com AMZN 3.0% 2.4%
SAP SAP GR 2.9% 0.2%
Tyson Foods TSN 2.8% < 0.1%
SANY Heavy Industry 6031 HK 2.7% —
Contemporary Amperex Technology 300750 C2 2.6% < 0.1%
Meituan 3690 HK 2.2% < 0.1%
Alphabet GOOGL 2.1% 3.5%
LyondellBasell Industries LYB 2.1% < 0.1%
Markel Group MKL 1.8% < 0.1%
ITOCHU 8001 JP 1.8% 0.1%
NetEase NTES 1.7% < 0.1%
Silergy 6415 TT 1.6% —
AUMOVIO AMV0 GR 1.6% —
UnitedHealth Group UNH 1.6% 0.3%
Cigna Group CI 1.5% 0.1%
Entain ENT LN 1.2% —
Zoetis ZTS 1.0% < 0.1%
Pinterest PINS 0.8% —
Expand Energy EXE 0.6% < 0.1%
Berkshire Hathaway BRK B 0.4% 0.7%
CASH N.A. 1.4% —

Sector Allocation

Sector Global Equity MSCI ACWI®
Consumer Discretionary 25.5% 8.2%
Industrials 16.6% 10.3%
Health Care 15.3% 8.4%
Communication Services 11.7% 8.0%
Financials 10.7% 16.2%
Consumer Staples 7.4% 4.5%
Energy 6.0% 4.0%
Information Technology 4.6% 33.2%
Materials 2.1% 3.5%
Utilities — 2.3%
Real Estate — 1.5%

Regional Allocation

Region Global Equity MSCI ACWI®
United States 48.5% 64.2%
Asia 32.5% 16.7%
Europe 14.4% 13.6%
South America 4.6% 0.6%
North & Central America Ex US — 3.1%
Australia/Oceania — 1.4%
Africa — 0.4%

Country Allocation - Top 10

Country Global Equity MSCI ACWI®
United States 48.5% 64.2%
China 24.2% 2.4%
Singapore 4.9% 0.4%
Switzerland 4.8% 1.9%
Germany 4.6% 1.8%
Brazil 4.6% 0.5%
Netherlands 3.8% 1.3%
Japan 1.9% 5.2%
Taiwan, Province of China 1.7% 3.5%
United Kingdom 1.2% 3.0%
Top 10 Countries Total % of Portfolio 100.2% 84.2%

Developed vs Emerging Markets

Market Global Equity MSCI ACWI®
United States 48.5% 64.2%
Emerging Markets 28.7% 11.6%
Developed Ex US 22.8% 24.0%

Factsheet

Fact Sheets

Document Description Date
Portfolio Fact Sheet Goals of the Portfolio, types of companies in the Portfolio, top holdings, Portfolio characteristics, and historical performance. September 2026
Performance Update Quarterly update of portfolio performance. September 2026