Davis Funds
Davis Financial Fund
Financial Services
Dec 2024 → Dec 2025
Our archive holds 2 letters from this strategy, behind 4 investment theses and positions in 3 companies. Every quote below is copied verbatim from the letter it came from.
2 letters in 2 years — follow all of Davis Funds for every strategy.
Its investment theses
- Wells Fargo & CompanyDec 2025Wells Fargo & Company is a large traditional U.S. bank with improving growth after asset-cap removal, cost discipline, surplus-capital buybacks, and a reasonable valuation versus expected high-teens ROTCE.
- Chubb LimitedDec 2025Chubb Limited is a diversified P&C insurer with superior underwriting culture, strong pricing tailwinds, low-20s ROTCE, and an attractive 10–11x earnings outlook.
- Capital One Financial Corp.Dec 2025Capital One Financial Corp. is a leading consumer financial services company with Discover synergy opportunities and an attractive sub-10x P/E supporting ~20% long-term returns on tangible capital.
- Capital OneDec 2024Capital One is a leading financial services company with a strong track record of growth and prudent credit management, currently holding significant excess capital that positions it for accelerated earnings growth.