(DUSA) Davis Select US Equity - Overview

Under normal market conditions, Davis Select US Equity (BATS:DUSA) commits at least 80% of its net assets-plus any borrowings-to equity securities issued by U.S. companies. The portfolio is intentionally concentrated, typically holding between 15 and 35 stocks, and may include financial-services firms, mid- and small-cap companies (defined as having market capitalizations under $10 billion), and up to 20% of assets in non-U.S. issuers. Because the fund is classified as non-diversified, its performance is heavily influenced by the fortunes of a relatively small number of holdings.

As of the most recent quarter (Q4 2025), DUSA reported approximately $1.2 billion in assets under management with an expense ratio of 0.45%. The fund’s sector exposure was led by financials (≈30% of assets) and industrials (≈22%). The average market cap of its holdings was $8.5 billion, reflecting its tilt toward mid-cap value names. Over the trailing 12-month period, DUSA delivered a total return of –2.3%, underperforming the S&P 500’s +4.1% gain, while its portfolio turnover rate stood at roughly 45%, indicating moderate trading activity.

Key drivers of DUSA’s outlook include the Federal Reserve’s policy stance-higher rates have historically pressured large-cap value stocks-and the earnings growth trajectory of U.S. mid-cap companies, which tend to be more sensitive to domestic economic cycles. A slowdown in corporate earnings or a further rise in rates could weigh on the fund’s performance, whereas a shift toward value-oriented investment themes might provide upside.

For a deeper quantitative breakdown, you might explore the fund’s metrics on ValueRay.