Chris Davis (Trades, Portfolio), the portfolio manager of Davis Financial Fund, recently filed the firm's 13F report for the second quarter of 2023. Davis Advisors, where Chris Davis (Trades, Portfolio) is a key figure, manages more than $60 billion across several different asset classes. The firm is known for its disciplined approach to value investing, focusing on long-term investment opportunities.
The 13F report, filed on June 30, 2023, revealed that the firm's portfolio contained 104 stocks with a total value of $16.41 billion. The top holdings were META (9.99%), WFC (7.99%), and COF (7.51%).
Top Three Trades of the Quarter
The following were the firm's top three trades of the quarter, which significantly impacted the equity portfolio.
Alphabet Inc (GOOG, Financial)
Chris Davis (Trades, Portfolio) reduced the firm's investment in Alphabet Inc (GOOG) by 3,839,057 shares, impacting the equity portfolio by 2.64%. During the quarter, the stock traded for an average price of $115.57. As of August 15, 2023, Alphabet Inc (GOOG) had a price of $130.69 and a market cap of $1,644.50 billion. The stock has returned 6.32% over the past year. GuruFocus gives the company a financial strength rating of 9 out of 10 and a profitability rating of 10 out of 10. In terms of valuation, Alphabet Inc (GOOG) has a price-earnings ratio of 27.69, a price-book ratio of 6.16, a price-earnings-to-growth (PEG) ratio of 1.09, a EV-to-Ebitda ratio of 17.70 and a price-sales ratio of 5.89.
Meta Platforms Inc (META, Financial)
The firm also reduced its investment in Meta Platforms Inc (META) by 552,059 shares, impacting the equity portfolio by 0.77%. During the quarter, the stock traded for an average price of $246.21. As of August 15, 2023, Meta Platforms Inc (META) had a price of $302.2899 and a market cap of $777.84 billion. The stock has returned 67.28% over the past year. GuruFocus gives the company a financial strength rating of 8 out of 10 and a profitability rating of 10 out of 10. In terms of valuation, Meta Platforms Inc (META) has a price-earnings ratio of 35.23, a price-book ratio of 5.78, a price-earnings-to-growth (PEG) ratio of 2.29, a EV-to-Ebitda ratio of 19.98 and a price-sales ratio of 6.60.
Alphabet Inc (GOOGL, Financial)
Lastly, Chris Davis (Trades, Portfolio) reduced the firm's investment in Alphabet Inc (GOOGL) by 695,750 shares, impacting the equity portfolio by 0.48%. During the quarter, the stock traded for an average price of $114.92. As of August 15, 2023, Alphabet Inc (GOOGL) had a price of $130.09 and a market cap of $1,643.18 billion. The stock has returned 6.63% over the past year. GuruFocus gives the company a financial strength rating of 9 out of 10 and a profitability rating of 10 out of 10. In terms of valuation, Alphabet Inc (GOOGL) has a price-earnings ratio of 27.56, a price-book ratio of 6.15, a price-earnings-to-growth (PEG) ratio of 1.09, a EV-to-Ebitda ratio of 17.69 and a price-sales ratio of 5.88.
In conclusion, the Q2 2023 13F filing reveals that Chris Davis (Trades, Portfolio) and his firm continue to apply their disciplined approach to value investing, making strategic adjustments to their portfolio based on market conditions and company performance. These insights provide valuable information for investors looking to understand the strategies of successful value investors.
