| Investment Objective: |
The Fund is an actively managed. Davis Selected Advisers, L.P., the Funds investment adviser, uses the Davis Investment Discipline to invest the Fund s portfolio principally in common stocks issued by large companies with market capitalizations of at least 10 billion. Under normal market conditions, the Fund will invest at least 80% of the Fund s net assets plus any borrowings for investment purposes in equity securities issued by U.S. companies. The Fund is non-diversified and, therefore, is allowed to focus its investments in fewer companies than a fund that is required to diversify its portfolio. The Fund s portfolio generally contains between 15 and 35 companies, although the precise number of its investments will vary over time. The Fund may invest a portion of its assets in financial services companies. The Fund may also invest in mid- and small-capitalization companies, which the Fund considers to be those companies with less than 10 billion in market capitalization. The Fund may invest up to 20% of net assets in non-U.S. companies. These non-U.S. company investments may include ADRs and GDRs and together Depositary Receipts. |
