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end
DAVIS NEW YORK VENTURE FUND
|
Schedule of Investments
|
April 30, 2021 (Unaudited)
|
Shares/Units
|
Value
|
|||||||||||
COMMON STOCK – (94.30%)
|
||||||||||||
COMMUNICATION SERVICES – (14.74%)
|
||||||||||||
Media & Entertainment – (14.74%)
|
||||||||||||
Alphabet Inc., Class A *
|
105,777
|
$
|
248,946,170
|
|||||||||
Alphabet Inc., Class C *
|
206,652
|
498,056,118
|
||||||||||
ASAC II L.P. *(a)(b)
|
4,156,451
|
4,243,321
|
||||||||||
Facebook, Inc., Class A *
|
1,280,627
|
416,306,225
|
||||||||||
IAC/InterActiveCorp *
|
898,020
|
227,621,129
|
||||||||||
Liberty TripAdvisor Holdings, Inc., Series A *
|
191,516
|
969,071
|
||||||||||
Total Communication Services
|
1,396,142,034
|
|||||||||||
CONSUMER DISCRETIONARY – (16.53%)
|
||||||||||||
Consumer Services – (4.64%)
|
||||||||||||
New Oriental Education & Technology Group, Inc., ADR (China)*
|
28,768,592
|
439,008,714
|
||||||||||
Retailing – (11.89%)
|
||||||||||||
Alibaba Group Holding Ltd., ADR (China)*
|
1,655,050
|
382,233,797
|
||||||||||
Amazon.com, Inc. *
|
118,771
|
411,828,941
|
||||||||||
Coupang, Inc., Class A (South Korea)*
|
2,195,957
|
92,010,598
|
||||||||||
Naspers Ltd. - N (South Africa)
|
237,420
|
54,194,625
|
||||||||||
Prosus N.V., Class N (Netherlands)
|
1,228,000
|
133,212,195
|
||||||||||
Vroom, Inc. *
|
1,143,230
|
52,897,252
|
||||||||||
1,126,377,408
|
||||||||||||
Total Consumer Discretionary
|
1,565,386,122
|
|||||||||||
FINANCIALS – (44.55%)
|
||||||||||||
Banks – (20.32%)
|
||||||||||||
Danske Bank A/S (Denmark)
|
7,584,377
|
144,749,847
|
||||||||||
DBS Group Holdings Ltd. (Singapore)
|
8,252,897
|
185,492,504
|
||||||||||
DNB ASA (Norway)
|
4,978,670
|
107,091,646
|
||||||||||
JPMorgan Chase & Co.
|
2,518,144
|
387,315,729
|
||||||||||
U.S. Bancorp
|
7,257,320
|
430,721,942
|
||||||||||
Wells Fargo & Co.
|
14,861,522
|
669,511,566
|
||||||||||
1,924,883,234
|
||||||||||||
Diversified Financials – (20.31%)
|
||||||||||||
Capital Markets – (2.77%)
|
||||||||||||
Bank of New York Mellon Corp.
|
5,264,917
|
262,614,060
|
||||||||||
Consumer Finance – (11.99%)
|
||||||||||||
American Express Co.
|
1,639,521
|
251,420,545
|
||||||||||
Capital One Financial Corp.
|
5,929,563
|
883,979,252
|
||||||||||
1,135,399,797
|
||||||||||||
Diversified Financial Services – (5.55%)
|
||||||||||||
Berkshire Hathaway Inc., Class A *
|
1,275
|
525,937,500
|
||||||||||
1,923,951,357
|
||||||||||||
Insurance – (3.92%)
|
||||||||||||
Life & Health Insurance – (1.93%)
|
||||||||||||
AIA Group Ltd. (Hong Kong)
|
14,313,990
|
182,247,577
|
||||||||||
Property & Casualty Insurance – (1.99%)
|
||||||||||||
Chubb Ltd.
|
686,010
|
117,712,456
|
||||||||||
Loews Corp.
|
604,169
|
33,682,422
|
||||||||||
Markel Corp. *
|
31,506
|
37,064,288
|
||||||||||
188,459,166
|
||||||||||||
370,706,743
|
||||||||||||
Total Financials
|
4,219,541,334
|
DAVIS NEW YORK VENTURE FUND
|
Schedule of Investments - (Continued)
|
April 30, 2021 (Unaudited)
|
Shares/Principal
|
Value
|
|||||||||||
COMMON STOCK – (CONTINUED)
|
||||||||||||
HEALTH CARE – (4.24%)
|
||||||||||||
Health Care Equipment & Services – (2.01%)
|
||||||||||||
Cigna Corp.
|
331,619
|
$
|
82,576,447
|
|||||||||
Quest Diagnostics Inc.
|
815,580
|
107,558,691
|
||||||||||
190,135,138
|
||||||||||||
Pharmaceuticals, Biotechnology & Life Sciences – (2.23%)
|
||||||||||||
Viatris Inc.
|
15,914,700
|
211,665,510
|
||||||||||
Total Health Care
|
401,800,648
|
|||||||||||
INDUSTRIALS – (1.95%)
|
||||||||||||
Capital Goods – (1.94%)
|
||||||||||||
Carrier Global Corp.
|
2,491,500
|
108,579,570
|
||||||||||
Orascom Construction PLC (United Arab Emirates)
|
1,456,501
|
7,500,980
|
||||||||||
Raytheon Technologies Corp.
|
807,239
|
67,194,574
|
||||||||||
183,275,124
|
||||||||||||
Commercial & Professional Services – (0.01%)
|
||||||||||||
China Index Holdings Ltd., Class A, ADR (China)*
|
501,229
|
1,102,704
|
||||||||||
Total Industrials
|
184,377,828
|
|||||||||||
INFORMATION TECHNOLOGY – (11.63%)
|
||||||||||||
Semiconductors & Semiconductor Equipment – (11.63%)
|
||||||||||||
Applied Materials, Inc.
|
3,736,030
|
495,808,541
|
||||||||||
Intel Corp.
|
5,848,000
|
336,435,440
|
||||||||||
Texas Instruments Inc.
|
1,493,450
|
269,582,660
|
||||||||||
Total Information Technology
|
1,101,826,641
|
|||||||||||
MATERIALS – (0.66%)
|
||||||||||||
OCI N.V. (Netherlands)*
|
2,665,534
|
62,202,010
|
||||||||||
Total Materials
|
62,202,010
|
|||||||||||
TOTAL COMMON STOCK – (Identified cost $4,043,935,389)
|
8,931,276,617
|
|||||||||||
PREFERRED STOCK – (4.18%)
|
||||||||||||
CONSUMER DISCRETIONARY – (0.86%)
|
||||||||||||
Retailing – (0.86%)
|
||||||||||||
Chengxin Technology, Inc., Series A-1 (China)*(a)(b)
|
7,035,470
|
70,354,700
|
||||||||||
Full Trillion Development Ltd., Class A (China)*(a)(b)
|
1,114,530
|
11,145,300
|
||||||||||
Total Consumer Discretionary
|
81,500,000
|
|||||||||||
INDUSTRIALS – (3.32%)
|
||||||||||||
Transportation – (3.32%)
|
||||||||||||
Didi Chuxing Joint Co., Series A (China)*(a)(b)
|
5,938,103
|
269,946,162
|
||||||||||
Didi Chuxing Joint Co., Series B-2 (China)*(a)(b)
|
982,804
|
44,678,270
|
||||||||||
Total Industrials
|
314,624,432
|
|||||||||||
TOTAL PREFERRED STOCK – (Identified cost $311,813,239)
|
396,124,432
|
|||||||||||
SHORT-TERM INVESTMENTS – (1.58%)
|
||||||||||||
StoneX Financial Inc. Joint Repurchase Agreement, 0.01%, 05/03/21,
dated 04/30/21, repurchase value of $118,752,099 (collateralized by:
U.S. Government agency mortgages and obligations in a pooled cash
account, 0.00%-9.00%, 05/15/21-03/20/71, total market value
$121,127,040)
|
$
|
118,752,000
|
118,752,000
|
DAVIS NEW YORK VENTURE FUND
|
Schedule of Investments - (Continued)
|
April 30, 2021 (Unaudited)
|
Principal
|
Value
|
|||||||||||
SHORT-TERM INVESTMENTS – (CONTINUED)
|
||||||||||||
Truist Securities, Inc. Joint Repurchase Agreement, 0.01%, 05/03/21,
dated 04/30/21, repurchase value of $30,633,026 (collateralized by: U.S.
Government agency mortgages in a pooled cash account, 1.50%-3.50%,
09/01/31-04/01/51, total market value $31,245,660)
|
$
|
30,633,000
|
$
|
30,633,000
|
||||||||
TOTAL SHORT-TERM INVESTMENTS – (Identified cost $149,385,000)
|
149,385,000
|
|||||||||||
Total Investments – (100.06%) – (Identified cost $4,505,133,628)
|
9,476,786,049
|
|||||||||||
Liabilities Less Other Assets – (0.06%)
|
(5,445,617)
|
|||||||||||
Net Assets – (100.00%)
|
$
|
9,471,340,432
|
||||||||||
ADR: American Depositary Receipt
|
||||||||||||
*
|
Non-income producing security.
|
|||||||||||
(a)
|
Restricted securities are not registered under the Securities Act of 1933 and may have contractual restrictions on resale. They are fair valued under methods approved by the Board of Directors. The
aggregate value of restricted securities amounted to $400,367,753 or 4.23% of the Fund's net assets as of April 30, 2021.
|
|||||||||||
(b)
|
The value of this security was determined using significant unobservable inputs.
|
DAVIS NEW YORK VENTURE FUND
|
Notes to Schedule of Investments
|
April 30, 2021 (Unaudited)
|
Level 1 –
|
quoted prices in active markets for identical securities
|
Level 2 –
|
other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment
speeds, credit risk, etc.)
|
Level 3 –
|
significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of
investments)
|
DAVIS NEW YORK VENTURE FUND
|
Notes to Schedule of Investments
|
April 30, 2021 (Unaudited)
|
Investments in Securities at Value
|
|||||||||||
Valuation Inputs
|
|||||||||||
Level 2:
|
Level 3:
|
||||||||||
Other Significant
|
Significant
|
||||||||||
Level 1:
|
Observable
|
Unobservable
|
|||||||||
Quoted Prices
|
Inputs
|
Inputs
|
Total
|
||||||||
Common Stock:
|
|||||||||||
Communication Services
|
$
|
1,391,898,713
|
$
|
–
|
$
|
4,243,321
|
$
|
1,396,142,034
|
|||
Consumer Discretionary
|
1,565,386,122
|
–
|
–
|
1,565,386,122
|
|||||||
Financials
|
4,219,541,334
|
–
|
–
|
4,219,541,334
|
|||||||
Health Care
|
401,800,648
|
–
|
–
|
401,800,648
|
|||||||
Industrials
|
184,377,828
|
–
|
–
|
184,377,828
|
|||||||
Information Technology
|
1,101,826,641
|
–
|
–
|
1,101,826,641
|
|||||||
Materials
|
62,202,010
|
–
|
–
|
62,202,010
|
|||||||
Preferred Stock:
|
|||||||||||
Consumer Discretionary
|
–
|
–
|
81,500,000
|
81,500,000
|
|||||||
Industrials
|
–
|
–
|
314,624,432
|
314,624,432
|
|||||||
Short-Term Investments
|
–
|
149,385,000
|
–
|
149,385,000
|
|||||||
Total Investments
|
$
|
8,927,033,296
|
$
|
149,385,000
|
$
|
400,367,753
|
$
|
9,476,786,049
|
Beginning Balance
August 1, 2020
|
Cost of
Purchases
|
Net Change in
Unrealized
Appreciation
(Depreciation)
|
Net Realized
Gain (Loss)
|
Proceeds
from Sales
|
Ending
Balance
April 30, 2021
|
|||||||||||||
Investments in Securities:
|
||||||||||||||||||
Common Stock
|
$
|
4,235,840
|
$
|
–
|
$
|
7,481
|
$
|
–
|
$
|
–
|
$
|
4,243,321
|
||||||
Preferred Stock
|
242,716,208
|
81,500,000
|
71,908,224
|
–
|
–
|
396,124,432
|
||||||||||||
Total Level 3
|
$
|
246,952,048
|
$
|
81,500,000
|
$
|
71,915,705
|
$
|
–
|
$
|
–
|
$
|
400,367,753
|
Fair Value at
|
Valuation
|
Unobservable
|
Amount(s) or
|
Impact to
Valuation from
|
|||||||
April 30, 2021
|
Technique
|
Input(s)
|
Range
|
an Increase in Input
|
|||||||
Investments in Securities:
|
|||||||||||
Common Stock
|
$
|
4,243,321
|
Discounted Cash Flow
|
Annualized Yield
|
1.44%
|
Decrease
|
|||||
Preferred Stock
|
314,624,432
|
Market Approach
|
Volume-Weighted
Transaction Price
|
$40.83-$52.00
|
Increase
|
||||||
Preferred Stock
|
81,500,000
|
Market Approach
|
Transaction Price
|
$10.00
|
Increase
|
||||||
Total Level 3
|
$
|
400,367,753
|
DAVIS NEW YORK VENTURE FUND
|
Notes to Schedule of Investments
|
April 30, 2021 (Unaudited)
|
Cost
|
$
|
4,517,050,716
|
|
Unrealized appreciation
|
5,064,249,413
|
||
Unrealized depreciation
|
(104,514,080)
|
||
Net unrealized appreciation
|
$
|
4,959,735,333
|