This resource provides an overview of the "Davis Investment Discipline" as applied to the Davis Real Estate Fund, profiles of the managers of the Fund and portfolio holdings, as well as several representations of our long-term performance.

Portfolio Managers Andrew Davis and Chandler Spears offer their thoughts on the real estate market, individual companies and recent portfolio performance on a semiannual basis.

Davis has created these reports to help investors understand how the managers have directed the fund over the past year. The reports also include overviews of performance, portfolio holdings and transactions over the period, as well as an outline of the fund's financials. Among other important notes, it also includes information regarding the corporate governance of Davis Advisors.