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 03/31/24

Fund
Selective Holdings The number of holdings in the Fund excluding cash positions and derivatives such as futures and currency forwards. 22
Attractive Growth 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. 15.5%
Undervalued 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. 14.4x

Returns

  YTD 1 Yr 3 Yr 5 Yr Since Incept.
Total Return Represents changes to the NAV and accounts for distributions from the Fund. 13.12% 37.81% 5.59% 14.10% 11.26%
Market Price Returns are generally calculated using closing price and account for distributions from the Fund. 12.76% 37.74% 5.55% 14.08% 11.25%
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. 11.30% 28.19% 9.56% 15.79% 14.05%
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. 13.12% 36.73% 5.13% 13.70% 10.84%
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. 7.77% 22.99% 4.24% 11.26% 9.04%

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. 9.23% 34.83% 4.62% 11.30% 10.87%
Market Price Returns are generally calculated using closing price and account for distributions from the Fund. 8.96% 34.95% 4.54% 11.28% 10.87%
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. 6.04% 22.66% 8.06% 13.18% 13.47%
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. 9.23% 33.78% 4.16% 10.92% 10.45%
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. 5.46% 21.26% 3.49% 8.95% 8.70%

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. 14.57% 46.09% 9.04% 13.94% 11.73%
Market Price Returns are generally calculated using closing price and account for distributions from the Fund. 14.49% 46.79% 8.98% 13.96% 11.76%
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. 10.56% 29.88% 11.48% 15.03% 14.29%
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. 14.57% 44.95% 8.56% 13.55% 11.31%
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. 8.63% 27.91% 6.93% 11.13% 9.42%

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. 13.12% 37.81% 17.76% 93.49% 120.01%
Market Price Returns are generally calculated using closing price and account for distributions from the Fund. 12.76% 37.74% 17.62% 93.32% 119.89%
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. 11.30% 28.19% 31.54% 108.26% 164.17%
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. 13.12% 36.73% 16.20% 90.19% 113.99%
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. 7.77% 22.99% 13.26% 70.59% 89.55%

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. 9.23% 34.83% 14.53% 70.93% 112.44%
Market Price Returns are generally calculated using closing price and account for distributions from the Fund. 8.96% 34.95% 14.26% 70.75% 112.47%
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. 6.04% 22.66% 26.20% 85.82% 151.69%
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. 9.23% 33.78% 13.01% 68.02% 106.63%
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. 5.46% 21.26% 10.86% 53.57% 83.97%

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. 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. 14.57% 46.09% 29.68% 92.17% 122.83%
Market Price Returns are generally calculated using closing price and account for distributions from the Fund. 14.49% 46.79% 29.45% 92.34% 123.26%
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. 10.56% 29.88% 38.59% 101.57% 162.40%
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. 14.57% 44.95% 27.96% 88.90% 116.73%
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. 8.63% 27.91% 22.30% 69.56% 91.63%

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 6/12/24

Top Sectors as of 6/11/24 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 37.8% 12.4%
Health Care 17.5% 12.0%
Communication Services 16.6% 9.4%
Consumer Discretionary 12.5% 9.9%
Information Technology 8.1% 31.0%
Industrials 4.5% 8.3%
Materials 2.0% 2.2%
Consumer Staples 0.9% 5.9%

Holdings as of 6/11/24

Name DUSA (%) S&P 500 (%)
Meta Platforms 11.55% 2.47%
Berkshire Hathaway 9.45% 1.65%
Capital One Financial 9.00% 0.11%
Amazon.com 8.38% 3.79%
Humana 5.13% 0.10%
Alphabet 4.96% 4.26%
Markel Group 4.77% 0.00%
Applied Materials 4.69% 0.42%
Wells Fargo 4.20% 0.46%
MGM Resorts 4.10% 0.02%
Name Ticker DUSA (%) S&P 500 (%) Shares Market Value ($) CUSIP SEDOL
Meta Platforms, Inc., Class A META 11.55 2.47 113,358 57,525,784 30303M102 B7TL820
Berkshire Hathaway Inc., Class B BRK B 9.45 1.65 115,191 47,055,524 084670702 2073390
Capital One Financial Corp. COF 9.00 0.11 331,483 44,796,613 14040H105 2654461
Amazon.com, Inc. AMZN 8.38 3.79 222,768 41,708,853 023135106 2000019
Humana Inc. HUM 5.13 0.10 72,607 25,540,964 444859102 2445063
Alphabet Inc., Class C GOOG 4.96 1.95 138,565 24,690,897 02079K107 BYY88Y7
Markel Group Inc. MKL 4.77 0.00 15,263 23,734,881 570535104 2566436
Applied Materials, Inc. AMAT 4.69 0.42 101,556 23,354,833 038222105 2046552
Wells Fargo & Co. WFC 4.20 0.46 366,099 20,915,236 949746101 2649100
MGM Resorts International MGM 4.10 0.02 500,440 20,402,939 552953101 2547419
Viatris Inc. VTRS 4.04 0.03 1,891,369 20,124,166 92556V106 BMWS3X9
The Cigna Group CI 3.96 0.22 58,296 19,700,550 125523100 BHJ0775
Owens Corning OC 3.78 0.00 107,349 18,829,015 690742101 B1FW7Q2
U.S. Bancorp USB 3.74 0.13 484,352 18,623,334 902973304 2736035
Bank of New York Mellon Corp. BK 3.01 0.10 255,414 15,008,127 064058100 B1Z77F6
Quest Diagnostics Inc. DGX 2.85 0.03 100,676 14,171,154 74834L100 2702791
Intel Corp. INTC 2.32 0.29 373,217 11,539,870 458140100 2463247
JPMorgan Chase & Co. JPM 2.13 1.25 54,691 10,629,743 46625H100 2190385
Teck Resources Ltd., Class B TECK 1.98 0.00 204,372 9,854,818 878742204 2124533
Solventum Corp. SOLV 1.41 0.02 123,830 7,001,348 83444M101 BMTQB43
American Express Co. AXP 1.27 0.28 28,127 6,315,355 025816109 2026082
Texas Instruments Inc. TXN 1.08 0.40 27,267 5,383,596 882508104 2885409
Tyson Foods Inc., Class A TSN 0.94 0.04 84,327 4,698,700 902494103 2909730
AGCO Corporation AGCO 0.69 0.00 33,647 3,426,610 001084102 2010278
Cash Component 0.57 0.00 0 0
Total   100.00 13.76        

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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
Days traded at premium 78 37
Days traded at discount 172 24

Fund Details as of 6/11/24

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. 24
Number of Holdings in Benchmark Index 503
Investment Manager Davis Selected Advisers, L.P.
Total Net Assets ($M) 497.968
Exchange Cboe Global Markets, Inc.
CUSIP 23908L207
Custodian State Street Bank and Trust Company
Benchmark Index S&P 500
Shares Outstanding 12,500,000
Dividend Frequency Annually
Options Available N
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. 18,090
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. 21,445
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. 0.22%
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. -0.09%
Active Share (as of 5/31/24) 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 6/11/24

NAV Market Price
52 Week High 40.50 40.59
52 Week Low 30.17 30.00