Fund Overview

  • Seeks high-conviction, best-of-breed businesses
  • Benchmark-agnostic. Seeks to outperform the index, not mirror it
  • Low expected turnover and a strategic, long term time horizon
  • Traditional benefits of ETFs: Low cost, tax efficient, intra-day liquidity and transparent ETFs are subject to commission costs each time a buy or sell is executed. Depending on the amount of trading activity, the low costs of ETFs may be outweighed by commissions and related trading costs.

Selective, Attractive Growth, Undervalued The Attractive Growth and Undervalued reference in this piece relates to underlying characteristics of the portfolio holdings. There is no guarantee that Fund performance will be positive as equity markets are volatile and an investor may lose money. as of 09/30/24

Selective Attractive Growth Undervalued

DUSA invests in only a select group of well-researched companies

DUSA portfolio companies have offered attractive growth

DUSA portfolio companies are 38% less expensive than the index

Holdings The number of holdings in the Fund excluding cash positions and derivatives such as futures and currency forwards. EPS Growth (5 Year) This figure represents the annualized rate of net-income-per-share growth over the trailing five-year period for the stocks held by the Fund. P/E (Forward) Forward price to earnings (forward P/E) is a measure of the price-to-earnings (P/E) ratio using forecasted earnings for the P/E calculation.
503
26
DUSA
S&P 500
18.8%
16.9%
DUSA
S&P 500
14.6x
23.7x
DUSA
S&P 500
DUSA
S&P 500

  “The companies of Davis Select U.S. Equity ETF have grown more than the companies in the index, yet are 38% less expensive.

In fact, this gap between price and value is among the widest we have ever seen.

We believe this sets the stage for attractive returns in the years ahead.”

Chris Davis, Portfolio Manager

Returns

  YTD 1 Yr 3 Yr 5 Yr Since Incept.
Total Return Represents changes to the NAV and accounts for distributions from the Fund. 18.12% 37.99% 7.86% 12.67% 11.24%
Market Price Returns are generally calculated using closing price and account for distributions from the Fund. 18.12% 38.40% 7.94% 12.80% 11.28%
S&P 500 The S&P 500® Index is an unmanaged index of 500 selected common stocks, most of which are listed on the New York Stock Exchange. The Index is adjusted for dividends, weighted towards stocks with large market capitalizations and represents approximately two-thirds of the total market value of all domestic common stocks. Investments cannot be made directly in an index. 20.97% 38.02% 9.08% 15.25% 14.46%
After Tax Pre-Liquidation After-tax returns for ETFs are calculated using the tax liability implied by each ETF's declared distributions. However, the exact tax characteristics of many distributions are not known until after the close of the calendar year. For Davis Fundamental ETF Trust, conservative estimates are used based on fund history until final amounts become available. 18.12% 36.92% 7.38% 12.29% 10.85%
After Tax Post-Liquidation After-tax returns for ETFs are calculated using the tax liability implied by each ETF's declared distributions. However, the exact tax characteristics of many distributions are not known until after the close of the calendar year. For Davis Fundamental ETF Trust, conservative estimates are used based on fund history until final amounts become available. 10.73% 23.04% 5.99% 10.06% 9.05%

The performance quoted represents past performance and does not guarantee future results. Investment return and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than the original cost. NAV and market price returns assume that all distributions were reinvested at NAV. Current performance may be lower or higher than the performance quoted. Since 1/11/17 Inception. Periods less than one year are not annualized. It is not possible to invest directly in an index.

  YTD 1 Yr 3 Yr 5 Yr Since Incept.
Total Return Represents changes to the NAV and accounts for distributions from the Fund. 18.66% 36.44% 9.28% 13.49% 11.44%
Market Price Returns are generally calculated using closing price and account for distributions from the Fund. 18.21% 36.44% 9.18% 13.44% 11.42%
S&P 500 The S&P 500® Index is an unmanaged index of 500 selected common stocks, most of which are listed on the New York Stock Exchange. The Index is adjusted for dividends, weighted towards stocks with large market capitalizations and represents approximately two-thirds of the total market value of all domestic common stocks. Investments cannot be made directly in an index. 22.08% 36.35% 11.90% 15.96% 14.77%
After Tax Pre-Liquidation After-tax returns for ETFs are calculated using the tax liability implied by each ETF's declared distributions. However, the exact tax characteristics of many distributions are not known until after the close of the calendar year. For Davis Fundamental ETF Trust, conservative estimates are used based on fund history until final amounts become available. 18.66% 35.38% 8.80% 13.10% 11.04%
After Tax Post-Liquidation After-tax returns for ETFs are calculated using the tax liability implied by each ETF's declared distributions. However, the exact tax characteristics of many distributions are not known until after the close of the calendar year. For Davis Fundamental ETF Trust, conservative estimates are used based on fund history until final amounts become available. 11.05% 22.12% 7.11% 10.73% 9.21%

The performance quoted represents past performance and does not guarantee future results. Investment return and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than the original cost. NAV and market price returns assume that all distributions were reinvested at NAV. Current performance may be lower or higher than the performance quoted. Since 1/11/17 Inception. Periods less than one year are not annualized. It is not possible to invest directly in an index.

  YTD 1 Yr 3 Yr 5 Yr Since Incept.
Total Return Represents changes to the NAV and accounts for distributions from the Fund. 17.78% 30.72% 7.64% 13.88% 11.46%
Market Price Returns are generally calculated using closing price and account for distributions from the Fund. 17.39% 30.76% 7.61% 13.84% 11.45%
S&P 500 The S&P 500® Index is an unmanaged index of 500 selected common stocks, most of which are listed on the New York Stock Exchange. The Index is adjusted for dividends, weighted towards stocks with large market capitalizations and represents approximately two-thirds of the total market value of all domestic common stocks. Investments cannot be made directly in an index. 19.53% 27.14% 9.37% 15.90% 14.62%
After Tax Pre-Liquidation After-tax returns for ETFs are calculated using the tax liability implied by each ETF's declared distributions. However, the exact tax characteristics of many distributions are not known until after the close of the calendar year. For Davis Fundamental ETF Trust, conservative estimates are used based on fund history until final amounts become available. 17.78% 29.71% 7.16% 13.49% 11.05%
After Tax Post-Liquidation After-tax returns for ETFs are calculated using the tax liability implied by each ETF's declared distributions. However, the exact tax characteristics of many distributions are not known until after the close of the calendar year. For Davis Fundamental ETF Trust, conservative estimates are used based on fund history until final amounts become available. 10.52% 18.72% 5.82% 11.06% 9.22%

The performance quoted represents past performance and does not guarantee future results. Investment return and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than the original cost. NAV and market price returns assume that all distributions were reinvested at NAV. Current performance may be lower or higher than the performance quoted. Since 1/11/17 Inception. Periods less than one year are not annualized. It is not possible to invest directly in an index.

  YTD 1 Yr 3 Yr 5 Yr Since Incept.
Total Return Represents changes to the NAV and accounts for distributions from the Fund. 33.66% 33.66% 8.27% 13.55% 10.01%
Market Price Returns are generally calculated using closing price and account for distributions from the Fund. 34.15% 34.15% 8.30% 13.62% 10.05%
S&P 500 The S&P 500® Index is an unmanaged index of 500 selected common stocks, most of which are listed on the New York Stock Exchange. The Index is adjusted for dividends, weighted towards stocks with large market capitalizations and represents approximately two-thirds of the total market value of all domestic common stocks. Investments cannot be made directly in an index. 26.29% 26.29% 10.00% 15.68% 13.20%
After Tax Pre-Liquidation After-tax returns for ETFs are calculated using the tax liability implied by each ETF's declared distributions. However, the exact tax characteristics of many distributions are not known until after the close of the calendar year. For Davis Fundamental ETF Trust, conservative estimates are used based on fund history until final amounts become available. 32.62% 32.62% 7.79% 13.16% 9.57%
After Tax Post-Liquidation After-tax returns for ETFs are calculated using the tax liability implied by each ETF's declared distributions. However, the exact tax characteristics of many distributions are not known until after the close of the calendar year. For Davis Fundamental ETF Trust, conservative estimates are used based on fund history until final amounts become available. 20.67% 20.67% 6.39% 10.85% 7.97%

The performance quoted represents past performance and does not guarantee future results. Investment return and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than the original cost. NAV and market price returns assume that all distributions were reinvested at NAV. Current performance may be lower or higher than the performance quoted. Since 1/11/17 Inception. Periods less than one year are not annualized. It is not possible to invest directly in an index.

  YTD 1 Yr 3 Yr 5 Yr Since Incept.
Total Return Represents changes to the NAV and accounts for distributions from the Fund. -19.30% -19.30% 2.71% 4.55% 6.48%
Market Price Returns are generally calculated using closing price and account for distributions from the Fund. -19.55% -19.55% 2.65% 4.43% 6.46%
S&P 500 The S&P 500® Index is an unmanaged index of 500 selected common stocks, most of which are listed on the New York Stock Exchange. The Index is adjusted for dividends, weighted towards stocks with large market capitalizations and represents approximately two-thirds of the total market value of all domestic common stocks. Investments cannot be made directly in an index. -18.11% -18.11% 7.65% 9.42% 11.14%
After Tax Pre-Liquidation After-tax returns for ETFs are calculated using the tax liability implied by each ETF's declared distributions. However, the exact tax characteristics of many distributions are not known until after the close of the calendar year. For Davis Fundamental ETF Trust, conservative estimates are used based on fund history until final amounts become available. -19.53% -19.53% 2.48% 4.17% 6.13%
After Tax Post-Liquidation After-tax returns for ETFs are calculated using the tax liability implied by each ETF's declared distributions. However, the exact tax characteristics of many distributions are not known until after the close of the calendar year. For Davis Fundamental ETF Trust, conservative estimates are used based on fund history until final amounts become available. -11.26% -11.26% 2.09% 3.47% 5.04%

The performance quoted represents past performance and does not guarantee future results. Investment return and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than the original cost. NAV and market price returns assume that all distributions were reinvested at NAV. Current performance may be lower or higher than the performance quoted. Since 1/11/17 Inception. Periods less than one year are not annualized. It is not possible to invest directly in an index.

  YTD 1 Yr 3 Yr 5 Yr Since Incept.
Total Return Represents changes to the NAV and accounts for distributions from the Fund. 17.66% 17.66% 20.51% -- 12.59%
Market Price Returns are generally calculated using closing price and account for distributions from the Fund. 17.71% 17.71% 20.61% -- 12.63%
S&P 500 The S&P 500® Index is an unmanaged index of 500 selected common stocks, most of which are listed on the New York Stock Exchange. The Index is adjusted for dividends, weighted towards stocks with large market capitalizations and represents approximately two-thirds of the total market value of all domestic common stocks. Investments cannot be made directly in an index. 28.71% 28.71% 26.04% -- 18.18%
After Tax Pre-Liquidation After-tax returns for ETFs are calculated using the tax liability implied by each ETF's declared distributions. However, the exact tax characteristics of many distributions are not known until after the close of the calendar year. For Davis Fundamental ETF Trust, conservative estimates are used based on fund history until final amounts become available. 17.34% 17.34% 20.24% -- 12.20%
After Tax Post-Liquidation After-tax returns for ETFs are calculated using the tax liability implied by each ETF's declared distributions. However, the exact tax characteristics of many distributions are not known until after the close of the calendar year. For Davis Fundamental ETF Trust, conservative estimates are used based on fund history until final amounts become available. 10.68% 10.68% 16.23% -- 9.94%

The performance quoted represents past performance and does not guarantee future results. Investment return and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than the original cost. NAV and market price returns assume that all distributions were reinvested at NAV. Current performance may be lower or higher than the performance quoted. Since 1/11/17 Inception. Periods less than one year are not annualized. It is not possible to invest directly in an index.

  YTD 1 Yr 3 Yr 5 Yr Since Incept.
Total Return Represents changes to the NAV and accounts for distributions from the Fund. 18.12% 37.99% 25.50% 81.71% 129.75%
Market Price Returns are generally calculated using closing price and account for distributions from the Fund. 18.12% 38.40% 25.80% 82.76% 130.34%
S&P 500 The S&P 500® Index is an unmanaged index of 500 selected common stocks, most of which are listed on the New York Stock Exchange. The Index is adjusted for dividends, weighted towards stocks with large market capitalizations and represents approximately two-thirds of the total market value of all domestic common stocks. Investments cannot be made directly in an index. 20.97% 38.02% 29.80% 103.52% 187.13%
After Tax Pre-Liquidation After-tax returns for ETFs are calculated using the tax liability implied by each ETF's declared distributions. However, the exact tax characteristics of many distributions are not known until after the close of the calendar year. For Davis Fundamental ETF Trust, conservative estimates are used based on fund history until final amounts become available. 18.12% 36.92% 23.84% 78.61% 123.46%
After Tax Post-Liquidation After-tax returns for ETFs are calculated using the tax liability implied by each ETF's declared distributions. However, the exact tax characteristics of many distributions are not known until after the close of the calendar year. For Davis Fundamental ETF Trust, conservative estimates are used based on fund history until final amounts become available. 10.73% 23.04% 19.08% 61.55% 96.72%

The performance quoted represents past performance and does not guarantee future results. Investment return and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than the original cost. NAV and market price returns assume that all distributions were reinvested at NAV. Current performance may be lower or higher than the performance quoted. Since 1/11/17 Inception. It is not possible to invest directly in an index.

  YTD 1 Yr 3 Yr 5 Yr Since Incept.
Total Return Represents changes to the NAV and accounts for distributions from the Fund. 18.66% 36.44% 30.55% 88.37% 130.79%
Market Price Returns are generally calculated using closing price and account for distributions from the Fund. 18.21% 36.44% 30.18% 87.96% 130.50%
S&P 500 The S&P 500® Index is an unmanaged index of 500 selected common stocks, most of which are listed on the New York Stock Exchange. The Index is adjusted for dividends, weighted towards stocks with large market capitalizations and represents approximately two-thirds of the total market value of all domestic common stocks. Investments cannot be made directly in an index. 22.08% 36.35% 40.17% 109.83% 189.75%
After Tax Pre-Liquidation After-tax returns for ETFs are calculated using the tax liability implied by each ETF's declared distributions. However, the exact tax characteristics of many distributions are not known until after the close of the calendar year. For Davis Fundamental ETF Trust, conservative estimates are used based on fund history until final amounts become available. 18.66% 35.38% 28.82% 85.16% 124.48%
After Tax Post-Liquidation After-tax returns for ETFs are calculated using the tax liability implied by each ETF's declared distributions. However, the exact tax characteristics of many distributions are not known until after the close of the calendar year. For Davis Fundamental ETF Trust, conservative estimates are used based on fund history until final amounts become available. 11.05% 22.12% 22.91% 66.59% 97.50%

The performance quoted represents past performance and does not guarantee future results. Investment return and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than the original cost. NAV and market price returns assume that all distributions were reinvested at NAV. Current performance may be lower or higher than the performance quoted. Since 1/11/17 Inception. It is not possible to invest directly in an index.

  YTD 1 Yr 3 Yr 5 Yr Since Incept.
Total Return Represents changes to the NAV and accounts for distributions from the Fund. 17.78% 30.72% 24.74% 91.65% 129.07%
Market Price Returns are generally calculated using closing price and account for distributions from the Fund. 17.39% 30.76% 24.64% 91.36% 128.90%
S&P 500 The S&P 500® Index is an unmanaged index of 500 selected common stocks, most of which are listed on the New York Stock Exchange. The Index is adjusted for dividends, weighted towards stocks with large market capitalizations and represents approximately two-thirds of the total market value of all domestic common stocks. Investments cannot be made directly in an index. 19.53% 27.14% 30.86% 109.29% 183.69%
After Tax Pre-Liquidation After-tax returns for ETFs are calculated using the tax liability implied by each ETF's declared distributions. However, the exact tax characteristics of many distributions are not known until after the close of the calendar year. For Davis Fundamental ETF Trust, conservative estimates are used based on fund history until final amounts become available. 17.78% 29.71% 23.08% 88.38% 122.80%
After Tax Post-Liquidation After-tax returns for ETFs are calculated using the tax liability implied by each ETF's declared distributions. However, the exact tax characteristics of many distributions are not known until after the close of the calendar year. For Davis Fundamental ETF Trust, conservative estimates are used based on fund history until final amounts become available. 10.52% 18.72% 18.51% 69.10% 96.22%

The performance quoted represents past performance and does not guarantee future results. Investment return and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than the original cost. NAV and market price returns assume that all distributions were reinvested at NAV. Current performance may be lower or higher than the performance quoted. Since 1/11/17 Inception. It is not possible to invest directly in an index.

  YTD 1 Yr 3 Yr 5 Yr Since Incept.
Total Return Represents changes to the NAV and accounts for distributions from the Fund. 33.66% 33.66% 26.91% 88.86% 94.49%
Market Price Returns are generally calculated using closing price and account for distributions from the Fund. 34.15% 34.15% 27.03% 89.42% 95.00%
S&P 500 The S&P 500® Index is an unmanaged index of 500 selected common stocks, most of which are listed on the New York Stock Exchange. The Index is adjusted for dividends, weighted towards stocks with large market capitalizations and represents approximately two-thirds of the total market value of all domestic common stocks. Investments cannot be made directly in an index. 26.29% 26.29% 33.10% 107.21% 137.35%
After Tax Pre-Liquidation After-tax returns for ETFs are calculated using the tax liability implied by each ETF's declared distributions. However, the exact tax characteristics of many distributions are not known until after the close of the calendar year. For Davis Fundamental ETF Trust, conservative estimates are used based on fund history until final amounts become available. 32.62% 32.62% 25.23% 85.64% 89.17%
After Tax Post-Liquidation After-tax returns for ETFs are calculated using the tax liability implied by each ETF's declared distributions. However, the exact tax characteristics of many distributions are not known until after the close of the calendar year. For Davis Fundamental ETF Trust, conservative estimates are used based on fund history until final amounts become available. 20.67% 20.67% 20.42% 67.42% 70.74%

The performance quoted represents past performance and does not guarantee future results. Investment return and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than the original cost. NAV and market price returns assume that all distributions were reinvested at NAV. Current performance may be lower or higher than the performance quoted. Since 1/11/17 Inception. It is not possible to invest directly in an index.

  YTD 1 Yr 3 Yr 5 Yr Since Incept.
Total Return Represents changes to the NAV and accounts for distributions from the Fund. -19.30% -19.30% 8.36% 24.94% 45.51%
Market Price Returns are generally calculated using closing price and account for distributions from the Fund. -19.55% -19.55% 8.16% 24.19% 45.35%
S&P 500 The S&P 500® Index is an unmanaged index of 500 selected common stocks, most of which are listed on the New York Stock Exchange. The Index is adjusted for dividends, weighted towards stocks with large market capitalizations and represents approximately two-thirds of the total market value of all domestic common stocks. Investments cannot be made directly in an index. -18.11% -18.11% 24.79% 56.88% 87.94%
After Tax Pre-Liquidation After-tax returns for ETFs are calculated using the tax liability implied by each ETF's declared distributions. However, the exact tax characteristics of many distributions are not known until after the close of the calendar year. For Davis Fundamental ETF Trust, conservative estimates are used based on fund history until final amounts become available. -19.53% -19.53% 7.63% 22.70% 42.64%
After Tax Post-Liquidation After-tax returns for ETFs are calculated using the tax liability implied by each ETF's declared distributions. However, the exact tax characteristics of many distributions are not known until after the close of the calendar year. For Davis Fundamental ETF Trust, conservative estimates are used based on fund history until final amounts become available. -11.26% -11.26% 6.42% 18.61% 34.15%

The performance quoted represents past performance and does not guarantee future results. Investment return and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than the original cost. NAV and market price returns assume that all distributions were reinvested at NAV. Current performance may be lower or higher than the performance quoted. Since 1/11/17 Inception. It is not possible to invest directly in an index.

  YTD 1 Yr 3 Yr 5 Yr Since Incept.
Total Return Represents changes to the NAV and accounts for distributions from the Fund. 17.66% 17.66% 75.08% -- 80.31%
Market Price Returns are generally calculated using closing price and account for distributions from the Fund. 17.71% 17.71% 75.52% -- 80.69%
S&P 500 The S&P 500® Index is an unmanaged index of 500 selected common stocks, most of which are listed on the New York Stock Exchange. The Index is adjusted for dividends, weighted towards stocks with large market capitalizations and represents approximately two-thirds of the total market value of all domestic common stocks. Investments cannot be made directly in an index. 28.71% 28.71% 100.37% -- 129.51%
After Tax Pre-Liquidation After-tax returns for ETFs are calculated using the tax liability implied by each ETF's declared distributions. However, the exact tax characteristics of many distributions are not known until after the close of the calendar year. For Davis Fundamental ETF Trust, conservative estimates are used based on fund history until final amounts become available. 17.34% 17.34% 73.95% -- 77.26%
After Tax Post-Liquidation After-tax returns for ETFs are calculated using the tax liability implied by each ETF's declared distributions. However, the exact tax characteristics of many distributions are not known until after the close of the calendar year. For Davis Fundamental ETF Trust, conservative estimates are used based on fund history until final amounts become available. 10.68% 10.68% 57.10% -- 60.22%

The performance quoted represents past performance and does not guarantee future results. Investment return and principal value of an investment will fluctuate so that an investor’s shares, when sold or redeemed, may be worth more or less than the original cost. NAV and market price returns assume that all distributions were reinvested at NAV. Current performance may be lower or higher than the performance quoted. Since 1/11/17 Inception. It is not possible to invest directly in an index.

Historical Prices as of 11/29/24

Top Sectors as of 11/29/24 The Fund generally uses the Global Industry Classification Standard (“GICS”) to determine industry classification. GICS presents industry classification as a series of levels. Allocations shown are at the sector level. For purposes of measuring concentration, the Fund generally classifies companies at the “industry group” or “industry” level. See the Fund’s SAI for additional information. Data is provided by an external service provider and, in limited instances, the classifications may vary from the classifications assigned by Davis Advisors. Industry classification weightings are subject to change.

DUSA (%) S&P 500 (%)
Financials 38.0% 13.9%
Health Care 19.3% 10.6%
Communication Services 14.4% 8.9%
Consumer Discretionary 11.3% 10.7%
Information Technology 6.5% 31.0%
Industrials 4.1% 8.6%
Energy 3.8% 3.4%
Materials 1.7% 2.1%
Consumer Staples 1.0% 5.7%

Holdings as of 11/29/24

Name DUSA (%) S&P 500 (%)
Capital One Financial 10.57% 0.14%
Meta Platforms 9.62% 2.46%
Berkshire Hathaway 8.10% 1.73%
Amazon.com 6.13% 3.81%
Markel Group 4.52% 0.00%
MGM Resorts 4.48% 0.02%
Viatris 4.38% 0.03%
U.S. Bancorp 4.29% 0.16%
Applied Materials 3.93% 0.28%
Alphabet 3.92% 3.54%
Name Ticker DUSA (%) S&P 500 (%) Shares Market Value ($) CUSIP SEDOL
Capital One Financial Corp. COF 10.57 0.14 330,223 63,406,118 14040H105 2654461
Meta Platforms, Inc., Class A META 9.62 2.46 100,455 57,693,316 30303M102 B7TL820
Berkshire Hathaway Inc., Class B BRK B 8.10 1.73 100,584 48,584,084 084670702 2073390
Amazon.com, Inc. AMZN 6.13 3.81 176,913 36,778,444 023135106 2000019
Markel Group Inc. MKL 4.52 0.00 15,205 27,109,299 570535104 2566436
MGM Resorts International MGM 4.48 0.02 700,412 26,853,796 552953101 2547419
Viatris Inc. VTRS 4.38 0.03 2,007,956 26,284,144 92556V106 BMWS3X9
U.S. Bancorp USB 4.29 0.16 482,510 25,712,958 902973304 2736035
Applied Materials, Inc. AMAT 3.93 0.28 134,980 23,582,356 038222105 2046552
Alphabet Inc., Class C GOOG 3.92 1.60 138,038 23,534,099 02079K107 BYY88Y7
Wells Fargo & Co. WFC 3.64 0.51 286,707 21,838,472 949746101 2649100
Humana Inc. HUM 3.57 0.07 72,331 21,437,462 444859102 2445063
The Cigna Group CI 3.27 0.19 58,074 19,617,397 125523100 BHJ0775
Owens Corning OC 2.92 0.00 85,251 17,529,311 690742101 B1FW7Q2
CVS Health Corporation CVS 2.76 0.15 276,780 16,565,283 126650100 2577609
Quest Diagnostics Inc. DGX 2.72 0.04 100,293 16,313,659 74834L100 2702791
Bank of New York Mellon Corp. BK 2.49 0.12 182,744 14,961,251 064058100 B1Z77F6
Tourmaline Oil Corp. TOU CN 1.91 0.00 243,070 11,471,675 B3QJ0H8
ConocoPhillips COP 1.64 0.28 90,973 9,856,015 20825C104 2685717
Teck Resources Ltd., Class B TECK 1.58 0.00 203,595 9,503,815 878742204 2124533
Solventum Corp. SOLV 1.47 0.02 123,359 8,821,402 83444M101 BMTQB43
Intel Corp. INTC 1.27 0.20 317,402 7,633,518 458140100 2463247
American Express Co. AXP 1.13 0.34 22,220 6,769,990 025816109 2026082
JPMorgan Chase & Co. JPM 0.97 1.39 23,382 5,838,953 46625H100 2190385
AGCO Corporation AGCO 0.91 0.00 54,170 5,482,546 001084102 2010278
Texas Instruments Inc. TXN 0.91 0.36 27,163 5,460,578 882508104 2885409
Tyson Foods, Inc., Class A TSN 0.90 0.04 84,006 5,418,387 902494103 2909730
Cash Component 6.00 0.00 0 0
Total   100.00 13.94        

Download to Excel

Historical Premium/Discount Shares are generally bought and sold on an exchange at market prices and the price paid may be more (a “premium”) or less than NAV (a “discount”). For this reason an investor may pay more or less than NAV when they buy shares, and they may receive more or less than NAV when they sell shares. The premium/discount information provided represents past performance and cannot be used to predict future results. of Market Price Market price generally reflects the official closing price of the Fund. to NAV



Calendar Year 2023 First Quarter 2024 Second Quarter 2024 Third Quarter 2024
Days traded at premium 78 37 47 35
Days traded at discount 172 24 16 29

Fund Details as of 11/29/24

Inception Date 1/11/17
Ticker DUSA
Objective Long-term capital growth and capital preservation
Expense Ratio The Advisors has contractually agreed to waive fees and/or reimburse the Fund’s expenses to the extent necessary to cap total annual fund operating expenses at 0.65% until March 1, 2025. After that date, there is no assurance that Davis Selected Advisers, L.P. will continue to waive fees and/or reimburse expenses. The agreement cannot be terminated prior to that date, without the consent of the Board of Trustees. 0.61%
Number of Holdings The number of holdings in the Fund excluding cash positions and derivatives such as futures and currency forwards. 27
Number of Holdings in Benchmark Index 503
Investment Manager Davis Selected Advisers, L.P.
Total Net Assets ($M) 599.794
Exchange Cboe Global Markets, Inc.
CUSIP 23908L207
Custodian State Street Bank and Trust Company
Benchmark Index S&P 500
Shares Outstanding 13,350,000
Dividend Frequency Annually
Options Available Yes
Daily Volume The number of shares traded during a given period of time. It is simply the amount of shares that trade hands from sellers to buyers as a measure of activity. If a buyer of a stock purchases 100 shares from a seller, then the volume for that period increased by 100 shares based on that transaction. Volume shown is the volume that traded on the primary exchange as of the date indicated. 4,108
30 Day Avg. Volume Average Daily Volume (ADV) on primary exchange may differ from ADV reported by other sources, which may publish an aggregated ADV from all exchanges on which the ETF trades. 29,073
30 Day Median Bid-Ask Spread The Fund uses the national best bid and national best offer (NBBO), calculated every ten seconds during each trading day, in order to determine the median bid-ask spread. The median of the values calculated over the last 30 calendar days is expressed as a percentage and rounded to the nearest hundredth. 0.27%
Premium/Discount Shares are generally bought and sold on an exchange at market prices and the price paid may be more (a “premium”) or less than NAV (a “discount”). For this reason an investor may pay more or less than NAV when they buy shares, and they may receive more or less than NAV when they sell shares. The premium/discount information provided represents past performance and cannot be used to predict future results. 0.05%
Active Share (as of 10/31/24) Active Share is a measure of the percentage of stock holdings in a manager's portfolio that differ from the benchmark index. 84%

52 Week High/Low as of 11/29/24

NAV Market Price
52 Week High 44.93 45.24
52 Week Low 33.36 33.11