Fund Overview
Davis Opportunity Fund


The Davis Opportunity Fund employs the signature Davis investment discipline - seeking durable, well-managed businesses that can be purchased at value prices and held for the long term - applying it to companies with various market capitalizations.

The Management Team
Targeting the Bluechips of Tomorrow
What Makes the Fund Unique
Compounded Performance
Fund Factsheet
Prospectus

WHO IS THE MANAGEMENT TEAM?
The Davis Opportunity Fund is managed by a research team of portfolio managers, who share ideas and responsibility for selecting the Fund's investments.

Return to top

TARGETING THE BLUE-CHIPS OF TOMORROW
"In the course of our research for our flagship large cap value fund, Davis New York Venture Fund, we frequently come across companies whose smaller size or risk profile makes them less appropriate. Nevertheless, we study such businesses closely for two reasons. First, we know that many of the well-established companies that we own today will be challenged by upstarts and newcomers. Second, we recognize that many of the most successful companies in the decades ahead are most likely in the small- and mid-sized universe today. As a result, our management of Davis Opportunity Fund is a natural extension of the research and analysis that we perform for Davis New York Venture Fund." - The Research Team

Return to top

WHAT MAKES THE FUND UNIQUE?

A Research-Driven, Multi-Sector Approach
 The Davis Opportunity Fund's hallmark is its fundamental research-driven investment approach that seeks to identify successful businesses in varied sectors of the equity market. The characteristics we look for include first-class management, management ownership, high after-tax returns on capital, low cost structure, dominant or growing market share, proven track record, strong balance sheet, products and services that do not become obsolete, successful international operations, and innovative users of technology.

A Long-Term Perspective
Over the long term, we believe that only fundamental business considerations and valuation should drive portfolio decisions. We will not sell a good investment simply because the company grows beyond a certain size, as many small and mid cap funds do.

Management Ownership
As with all our Funds, our interests are closely aligned with those of our shareholders because our money is invested side by side with theirs.

Return to top

COMPOUNDED PERFORMANCE

Davis Opportunity Fund Class A shares 12/1/94 - 12/31/07
 including applicable salescharge, with dividends reinvested

As of December 31, 2007
1 Year
5 Years
10 Years
Davis Opportunity Fund Class A
-6.10%
13.82%
8.57%
The data quoted represents past performance and includes the maximum 4.75% sales charge. The total annual operating expense ratio for Davis Opportunity Fund Class A shares as of the most recent prospectus was 1.10%. Past performance is not a guarantee of future success . Fund performance changes over time and current performance may be higher or lower than stated. Investment return and principal value will vary so that an investor may lose money. Current month end performance can be obtained by clicking here or by calling 1-800-279-0279.

Return to top


Investments in initial public offerings (IPOs) had a favorable impact on Davis Opportunity Fund’s performance in 1999 and 2000. This was a time when the IPO market was very active. No assurance can be given that Davis Opportunity Fund will continue to invest in IPOs to the same extent in the future, or that such investments would be profitable.

Shares of the Davis Funds are not deposits or obligation 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 Opportunity Fund's investment objective is long-term growth of capital. There can be no assurance that the Fund will achieve its objective.

As of December 31, 2007, Davis Opportunity Fund had approximately 17.0% of assets invested in foreign companies. 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. Small- and medium-capitalization companies' share prices tend to fluctuate more often as they tend to have limited product lines, markets and financial resources, and their securities may trade less frequently and in more limited volume than those of larger companies. See the prospectus for a complete listing of the principal risks.


This material must be accompanied or preceded by a current Davis Series, Inc., Prospectus. Carefully consider the fund's investment strategies, risks, charges and expenses before investing or sending money. The prospectus contains this and other information and can be obtained by clicking here or calling 1 (800) 279-0279.