Davis New York Venture Fund’s Q4 2021 Investor Letter

Davis Funds, an investment management firm, published its “Davis New York Venture Fund” fourth quarter 2021 investor letter – a copy of which can be downloaded here. For the full year of 2021, Davis New York Venture Fund returned 12.5%.  Although the earnings of the fund’s portfolio companies have grown 1% per year faster than the benchmark S&P 500 Index, they can currently be purchased at a 52% discount to the index. Spare some time to check the fund’s top 5 holdings to have a clue about their top bets for 2022.