Growth of a Hypothetical $10,000 Investment
Build Wealth Over Time

As Warren Buffett has said, "Investing is simply laying out money today to receive more money tomorrow." The chart below illustrates a hypothetical $10,000 investment in 1969 in the Davis New York Venture Fund, the S&P 500® Index and the Average Large Cap Fund.*

By consistently outperforming the S&P 500® over the long term, a hypothetical $10,000 invested in the Davis New York Venture Fund Class A in 1969 compounded to $655,211 by March 31, 2009 vs. only $281,684 for the S&P 500® and $275,933 for the Average Large Cap Fund.




Davis New York Venture Class A Shares - 2/17/69–03/31/09

Davis New York
Venture Fund Class A,
Annualized Total Returns
as of March 31, 2009 		1
Year 		3
Year 		5
Years 		7
Years 		10
Years 		15
Years 		20
Years 		25
Years 		30
Years 		Inception
(2/17/69)
with a maximum
4.75% sales charge 		-44.70% -16.22% -6.22% -2.58% -0.85% 6.64% 8.92% 10.94% 12.73% 10.85%


The performance presented represents past performance and is not a guarantee of future results. Total return assumes reinvestment of dividends and capital gain distributions. Investment return and principal value will vary so that, when redeemed, an investor's shares may be worth more or less than their original cost. The maximum sales charge on a Class A share is 4.75%. The total annual operating expense ratio for Davis New York Venture Fund Class A shares as of the most recent prospectus was 0.85%. The total annual operating expense ratio may vary in future years. Returns and expenses for other classes of shares will vary. Current performance may be higher or lower than the performance data quoted. Current month end performance can be obtained by clicking here or by calling 1-800-279-0279.

* Lipper will not calculate returns with inceptions in the middle of the month. Inception date used is 2/28/69. Returns for other classes of shares will vary. All returns include the reinvestment of dividends and capital gain distributions. See the endnotes for a description of the indices. The Average Large Cap Fund is represented by the equities in the Lipper Average Large Cap peer group. Past performance is not a guarantee of future results.

* The definition of indices quoted in this material appear below. Investments cannot be made in any of these indices.

This material is authorized for use by existing shareholders. A current Davis New York Venture Fund prospectus must accompany or precede this piece if it is distributed to prospective shareholders. You should carefully consider the Fund's investment objectives, risks, charges and expenses before investing. Read the prospectus carefully before you invest or send money.

Davis New York Venture Fund's investment objective is long-term growth of capital. There can be no assurance that the Fund will achieve its objective. Davis New York Venture Fund invests primarily in equity securities issued by large companies with market capitalizations of at least $10 billion. Some important risks of an investment in the Fund are: market risk: the market value of shares of common stock can change rapidly and unpredictably; company risk: the market value of a common stock varies with the success or failure of the company issuing the stock; financial services risk: investing a significant portion of assets in the financial services sector may cause a fund to be more volatile as securities within the financial services sector are more prone to regulatory action in the financial services industry, more sensitive to interest rate fluctuations, and are the target of increased competition; and foreign country risk: companies operating, incorporated, or principally traded in foreign countries may have more fluctuation as foreign economies may not be as strong or diversified, foreign political systems may not be as stable, and foreign financial reporting standards may not be as rigorous as they are in the United States. As of March 31, 2009, Davis New York Venture Fund had approximately 11.4% of assets invested in foreign companies. See the prospectus for a complete listing of the principal risks.

The Lipper Average Large-Cap peer group is a combined category including the Lipper Large-Cap Growth, Core, and Value peer groups. Lipper Large-Cap peer groups are funds that, by portfolio practice, invest at least 75% of their equity assets in companies with market capitalizations (on a three-year weighted basis) above Lipper's USDE large-cap floor. Funds are categorized as Growth, Core, or Value based on their portfolio characteristics; price to earnings ratio; price to book ratio; and three year sales per share growth value. Growth funds typically have above-average characteristics, Core funds typically have average characteristics, and Value funds typically have below-average characteristics, compared to the S&P 500® Index.

Broker-dealers and other financial intermediaries may charge Davis Advisors substantial fees for selling its products and providing continuing support to clients and shareholders. For example, broker-dealers and other financial intermediaries may charge: sales commissions; distribution and service fees; and record-keeping fees. In addition, payments or reimbursements may be requested for: marketing support concerning Davis Advisors' products; placement on a list of offered products; access to sales meetings, sales representatives and management representatives; and participation in conferences or seminars, sales or training programs for invited registered representatives and other employees, client and investor events and other dealer-sponsored events. Financial advisors should not consider Davis Advisors' payment(s) to a financial intermediary as a basis for recommending Davis Advisors.

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.

Shares of the Davis Funds are not deposits or obligations of any bank, are not guaranteed by any bank, are not insured by the FDIC or any other agency, and involve investment risks, including possible loss of the principal amount invested.

Davis Distributors, LLC, 2949 East Elvira Road, Suite 101, Tucson, AZ 85756, 800-279-0279, davisfunds.com.

 




























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