| Scorecard |
|---|
|
2 / 5 Stars
|
|
Lipper
2
2
4
4
4
|
|
Zacks Investment Research
2
(Buy)
|
|
Standard & Poor's
3 / 5 Stars
|
|
TheStreet.com
C
(Hold)
|
#218 in Large Blend
U.S. News evaluated 496 Large Blend Funds. Our list highlights the top-rated funds for long-term investors based on the ratings of leading fund industry researchers.
Performance
The fund’s one-year return is 27.52 percent. It has returned 13.37 percent over the past three years, 2.72 percent over the past five years, and 7.29 percent over the past decade.
| Trailing Returns | Updated 05.31.2013 |
|---|---|
| Year to date | 17.0% |
| 1 Year | 27.5% |
| 3 Years (Annualized) | 13.4% |
| 5 Years (Annualized) | 2.7% |
| 10 Years (Annualized) | 7.3% |
Summary
Investing in financial companies has helped the Davis New York Venture fund maintain consistent growth in the past, and management seems intent on keeping that tradition alive.
As of June 05, 2013, the fund has assets totaling $20.27 billion. Its portfolio consists almost entirely of a blend of stock holdings in large-cap companies.
The fund is known for its financial focus. Even after the meltdown and despite painful exposure to a few troubled names including American International Group, the fund’s top holdings still include financial companies such as Warren Buffet’s Berkshire Hathaway and Wells Fargo. Besides financials, the fund also invests heavily in the energy sector in companies like Los Angeles-based Occidental Petroleum.
Historically, the fund has rarely wavered from a strict buy-and-hold discipline. With an eye toward future earnings, the fund maintains heavy investments in financials, energy, and healthcare. The fund has seen hard times in the past (notably in the early 1970s and during the 2008 financial collapse, when the fund slumped 40 percent), but the Davis family has shown no signs of budging from its longtime strategy. The fund also prides itself on long-term returns, noting that as of Dec. 31, 2009, it is the only mutual fund to have outperformed the S&P 500 over every rolling 10-year period since its inception in 1969. The fund has returned 2.72 percent over the past five years and 7.29 percent over the past decade.
Investment Strategy
The fund invests primarily in a blend of large-cap value and growth stocks. The fund managers are known for favoring what they call “growth stocks in disguise,” which means that they try to find growth companies before other investors do, allowing the fund to reap the benefits of the early selection, according to Raymond James.
Role in Portfolio
Morningstar gives the fund a “core” role in the portfolio.
Management
Morningstar awarded this fund’s managers, Chris Davis and Ken Feinberg, with the Domestic-Stock Managers of the Year in 2005. Comanagers Davis and Feinberg have more than $1 million invested in the fund.
Risk
Historically, the fund has maintained heavy investments in the financial services industry, so the fund is liable to be affected by regulatory changes or volatility within that sector.
Fund Opinions
The fund's Value Line Overall Rank, a measure of risk-adjusted performance and relative growth in fund returns, is 3 on a scale of 1 to 5, with 1 being the best and 5 the worst.
Value Line 2013-06-11
The fund's Value Line Growth Persistence rank, which awards funds that consistently outperform their broad universes, is 3 for one year, 4 for five years, and 5 for 10 years. Scores are on a 1 to 5 scale, with 1 being the best and 5 the worst.
Value Line 2013-06-11
The fund's Value Line Risk Rank, a measure of volatility, is 3 on a scale of 1 to 5, with 1 being the least volatile and 5 the most.
Value Line 2013-06-11
Morningstar gives this fund a stewardship rating of A on a scale of A to F, saying, “This fund is supported by an industry-leading corporate culture and a firm with a strong regulatory history.”
Morningstar 2010-01-26
The Davis fund family manages seven total funds, and the managers are known for investing a significant amount of their own money in their funds. The relatively small fund family is known for its long-term outlook and below-average turnover rate.
2010-01-26
Morningstar gives this fund a stewardship rating of A on a scale of A to F, saying, “This fund is supported by an industry-leading corporate culture and a firm with a strong regulatory history.”
Morningstar 2010-01-26
The Davis fund family manages seven total funds, and the managers are known for investing a significant amount of their own money in their funds. The relatively small fund family is known for its long-term outlook and below-average turnover rate.
2010-01-26
