Davis Financial Fund’s Q4 2022 Investor Letter

Investment management firm, Davis Advisers, released its “Davis Financial Fund” 2022 annual investor letter. A copy of the same can be downloaded here. In 2022, the fund declined −8.91% slightly outperforming the S&P 500 Financials Index which returned −10.53%. Investments in property and casualty (P&C) insurance, foreign banks, and Berkshire Hathaway were the primary contributors while U.S. bank and consumer-lending holdings detracted from the performance. In addition, please check the fund’s top five holdings to know its best picks in 2022.