Insight into the Latest 13F Filing for Q2 2024
Chris Davis (Trades, Portfolio), the esteemed portfolio manager at Davis Advisors, recently disclosed his investment activities for the second quarter of 2024 through the latest 13F filing. Managing over $60 billion across various asset classes, Davis is known for his strategic focus on financial services and a long-term investment horizon, typically holding stocks for four to seven years. His investment philosophy centers on acquiring durable, well-managed businesses at value prices, particularly when they are out of favor.
New Additions to the Portfolio
During the quarter, Chris Davis (Trades, Portfolio) expanded his portfolio by adding seven new stocks. Noteworthy among these was Solventum Corp (SOLV, Financial), with a substantial acquisition of 5,163,955 shares, making up 1.59% of the portfolio and valued at $273.07 million. Following closely, Tyson Foods Inc (TSN, Financial) saw an addition of 3,105,330 shares, representing about 1.03% of the portfolio at a value of $177.44 million. Another significant new holding was Sea Ltd (SE, Financial), with 652,316 shares valued at $46.59 million, accounting for 0.27% of the portfolio.
Significant Increases in Existing Positions
Chris Davis (Trades, Portfolio) also notably increased his stakes in 23 existing stocks. The most significant increase was in Intel Corp (INTC, Financial), where he added 5,851,098 shares, bringing the total to 12,642,316 shares. This adjustment marked an 86.16% increase in share count and impacted the portfolio by 1.05%, with a total value of $391.53 million. Another major increase was in Humana Inc (HUM, Financial), with an additional 321,233 shares, bringing the total to 2,311,362 shares valued at $863.64 million.
Complete Exits from Certain Holdings
In a strategic move, Chris Davis (Trades, Portfolio) completely exited three positions in the second quarter of 2024. He sold all 99,207 shares of Ferguson Enterprises Inc (FERG, Financial), impacting the portfolio by -0.12%. Additionally, all 229,695 shares of Carrier Global Corp (CARR, Financial) were liquidated, causing a -0.07% impact on the portfolio.
Major Reductions in Key Stocks
Significant reductions were made in 60 stocks, with Wells Fargo & Co (WFC, Financial) seeing the most substantial cut. Davis reduced his holdings by 8,153,385 shares, a -34.69% decrease, impacting the portfolio by -2.65%. The stock traded at an average price of $59.04 during the quarter and has seen a -12.68% return over the past three months, though it is up 7.66% year-to-date. Another major reduction was in JPMorgan Chase & Co (JPM, Financial), with a 42.7% reduction in shares, impacting the portfolio by -1.55%.
Portfolio Overview and Sector Allocation
As of the second quarter of 2024, Chris Davis (Trades, Portfolio)'s portfolio comprised 102 stocks. The top holdings included 8.96% in Meta Platforms Inc (META, Financial), 7.75% in Capital One Financial Corp (COF, Financial), 6.51% in Berkshire Hathaway Inc (BRK.A, Financial), 6.42% in Amazon.com Inc (AMZN, Financial), and 5.74% in Applied Materials Inc (AMAT, Financial). The investments are predominantly concentrated in 10 of the 11 industries, including Financial Services, Healthcare, Communication Services, and Technology.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
