Davis Global Fund
Davis International Fund
(portfolios of Davis New York Venture Fund, Inc.)
July 31, 2023
The Equity Specialists
DAVIS GLOBAL FUND
Schedule of Investments 
July 31, 2023 (Unaudited)
 
 
Shares
Value
COMMON STOCK – (99.14%)
COMMUNICATION SERVICES – (13.11%)
Media & Entertainment – (13.11%)
Alphabet Inc., Class C *
141,610
$18,849,707
ASAC II L.P. *(a)(b)(c)
35,352
35,787
IAC Inc. *
121,350
8,445,960
Liberty Media Corp., Liberty Formula One,
Series A *
171,400
11,017,592
Liberty Media Corp., Liberty Formula One,
Series C *
97,445
7,074,507
Meta Platforms, Inc., Class A *
196,330
62,550,738
Total Communication Services
107,974,291
CONSUMER DISCRETIONARY – (23.03%)
Consumer Discretionary Distribution & Retail – (15.42%)
Amazon.com, Inc. *
372,600
49,809,168
Coupang, Inc., Class A (South Korea) *
458,730
8,325,949
JD.com, Inc., Class A (China) 
65,130
1,334,518
JD.com, Inc., Class A, ADR (China) 
591,605
24,439,203
Naspers Ltd. - N (South Africa) 
57,031
11,206,442
Prosus N.V., Class N (Netherlands) 
402,180
31,851,455
 
126,966,735
Consumer Durables & Apparel – (0.93%)
Fila Holdings Corp. (South Korea) 
245,610
7,649,721
Consumer Services – (6.68%)
Delivery Hero SE (Germany) *
373,030
16,924,701
Meituan, Class B (China) *
1,381,629
25,918,056
MGM Resorts International *
239,420
12,155,353
 
54,998,110
Total Consumer Discretionary
189,614,566
CONSUMER STAPLES – (1.51%)
Food, Beverage & Tobacco – (1.51%)
Darling Ingredients Inc. *
179,370
12,421,373
Total Consumer Staples
12,421,373
FINANCIALS – (39.87%)
Banks – (18.23%)
Bank of N.T. Butterfield & Son Ltd.
(Bermuda) 
290,710
9,340,512
Danske Bank A/S (Denmark) 
2,494,590
59,204,828
DBS Group Holdings Ltd. (Singapore) 
1,412,594
36,394,413
Metro Bank Holdings PLC (United Kingdom) *
1,396,402
2,118,229
Wells Fargo & Co. 
932,100
43,025,736
 
150,083,718
Financial Services – (12.71%)
Capital Markets – (4.88%)
Julius Baer Group Ltd. (Switzerland) 
543,500
38,391,835
Noah Holdings Ltd., Class A, ADS (China) 
115,670
1,760,498
 
40,152,333
Consumer Finance – (4.96%)
Capital One Financial Corp. 
348,750
40,810,725
Financial Services – (2.87%)
Berkshire Hathaway Inc., Class B *
67,270
23,676,349
 
104,639,407
 
Shares
Value
COMMON STOCK – (CONTINUED)
FINANCIALS – (CONTINUED)
Insurance – (8.93%)
Life & Health Insurance – (8.93%)
AIA Group Ltd. (Hong Kong) 
2,322,780
$23,052,375
Ping An Insurance (Group) Co. of China, Ltd. -
H (China) 
7,006,500
50,534,771
 
73,587,146
Total Financials
328,310,271
HEALTH CARE – (4.41%)
Health Care Equipment & Services – (1.53%)
Cigna Group 
42,640
12,583,064
Pharmaceuticals, Biotechnology & Life Sciences – (2.88%)
Viatris Inc. 
2,254,350
23,738,305
Total Health Care
36,321,369
INDUSTRIALS – (4.58%)
Capital Goods – (2.28%)
Owens Corning 
133,680
18,713,863
Transportation – (2.30%)
DiDi Global Inc., Class A, ADS (China) *
5,041,678
18,956,709
Total Industrials
37,670,572
INFORMATION TECHNOLOGY – (8.86%)
Semiconductors & Semiconductor Equipment – (2.33%)
Applied Materials, Inc. 
111,790
16,946,246
Intel Corp. 
61,860
2,212,732
 
19,158,978
Software & Services – (0.45%)
Clear Secure, Inc., Class A 
157,210
3,727,449
Technology Hardware & Equipment – (6.08%)
Hollysys Automation Technologies Ltd.
(China) 
1,106,901
19,403,975
Samsung Electronics Co., Ltd. (South Korea) 
559,940
30,662,387
 
50,066,362
Total Information Technology
72,952,789
MATERIALS – (3.77%)
Teck Resources Ltd., Class B (Canada) 
698,000
31,012,140
Total Materials
31,012,140
TOTAL COMMON STOCK –
(Identified cost $592,788,190)
816,277,371
 
 
Principal
Value
SHORT-TERM INVESTMENTS – (0.76%)
Nomura Securities International, Inc. Joint
Repurchase Agreement, 5.30%, 08/01/23  (d)
$3,146,000
$3,146,000
StoneX Financial Inc. Joint Repurchase
Agreement, 5.30%, 08/01/23  (e)
3,131,000
3,131,000
TOTAL SHORT-TERM INVESTMENTS –
(Identified cost $6,277,000)
6,277,000
Total Investments – (99.90%) –
(Identified cost $599,065,190)
822,554,371
Other Assets Less Liabilities – (0.10%)
846,264
Net Assets – (100.00%)
$823,400,635
 
ADR:
American Depositary Receipt
1
DAVIS GLOBAL FUND
Schedule of Investments - (Continued)
July 31, 2023 (Unaudited)
ADS:
American Depositary Share
 
*
Non-income producing security.
(a)
Restricted securities are not registered under the Securities Act of 1933
and may have contractual restrictions on resale. They are fair valued under
methods approved by the Pricing Committee. The aggregate value of
restricted securities amounted to $35,787 or 0.004% of the Fund's net
assets as of July 31, 2023.
(b)
The value of this security was determined using significant unobservable
inputs.
(c)
Limited partnership units.
(d)
Dated 07/31/23, repurchase value of $3,146,463 (collateralized
by: U.S. Government agency mortgage in a pooled cash account, 3.50%,
01/01/47, total market value $3,208,920)
(e)
Dated 07/31/23, repurchase value of $3,131,461 (collateralized
by: U.S. Government agency mortgages and obligations in a pooled cash
account, 0.00%-10.00%, 08/25/23-04/20/73, total market value
$3,193,620)
Please refer to “Notes to Schedule of Investments” on page 4 for the Fund's policy regarding valuation of investments.
For information regarding the Fund's other significant accounting policies, please refer to the Fund's most recent Semi-Annual or Annual Shareholder Report.
2
DAVIS INTERNATIONAL FUND
Schedule of Investments 
July 31, 2023 (Unaudited)
 
 
Shares
Value
COMMON STOCK – (99.36%)
COMMUNICATION SERVICES – (0.77%)
Media & Entertainment – (0.77%)
iQIYI, Inc., Class A, ADR (China) *
211,580
$1,341,417
Total Communication Services
1,341,417
CONSUMER DISCRETIONARY – (28.26%)
Consumer Discretionary Distribution & Retail – (17.61%)
Alibaba Group Holding Ltd., ADR (China) *
31,710
3,239,494
Coupang, Inc., Class A (South Korea) *
107,520
1,951,488
JD.com, Inc., Class A, ADR (China) 
173,790
7,179,265
Naspers Ltd. - N (South Africa) 
46,950
9,225,552
Prosus N.V., Class N (Netherlands) 
115,522
9,148,997
 
30,744,796
Consumer Durables & Apparel – (3.08%)
Fila Holdings Corp. (South Korea) 
172,850
5,383,552
Consumer Services – (7.57%)
Delivery Hero SE (Germany) *
89,540
4,062,509
Meituan, Class B (China) *
488,411
9,162,129
 
13,224,638
Total Consumer Discretionary
49,352,986
FINANCIALS – (41.72%)
Banks – (22.39%)
Bank of N.T. Butterfield & Son Ltd.
(Bermuda) 
209,300
6,724,809
Danske Bank A/S (Denmark) 
664,420
15,768,873
DBS Group Holdings Ltd. (Singapore) 
505,610
13,026,658
DNB Bank ASA (Norway) 
140,432
2,897,305
Metro Bank Holdings PLC (United Kingdom) *
446,090
676,682
 
39,094,327
Financial Services – (6.90%)
Capital Markets – (6.90%)
Julius Baer Group Ltd. (Switzerland) 
155,980
11,018,139
Noah Holdings Ltd., Class A, ADS (China) 
68,400
1,041,048
 
12,059,187
Insurance – (12.43%)
Life & Health Insurance – (12.43%)
AIA Group Ltd. (Hong Kong) 
1,050,900
10,429,633
Ping An Insurance (Group) Co. of China, Ltd. -
H (China) 
1,564,500
11,284,043
 
21,713,676
Total Financials
72,867,190
INDUSTRIALS – (9.77%)
Capital Goods – (6.65%)
Ferguson plc 
25,920
4,189,191
Schneider Electric SE (France) 
41,690
7,427,617
 
11,616,808
Transportation – (3.12%)
DiDi Global Inc., Class A, ADS (China) *
1,450,206
5,452,774
Total Industrials
17,069,582
 
Shares
Value
COMMON STOCK – (CONTINUED)
INFORMATION TECHNOLOGY – (14.57%)
Semiconductors & Semiconductor Equipment – (3.96%)
Tokyo Electron Ltd. (Japan) 
46,310
$6,915,657
Technology Hardware & Equipment – (10.61%)
Hollysys Automation Technologies Ltd.
(China) 
382,606
6,707,083
Samsung Electronics Co., Ltd. (South Korea) 
215,740
11,813,951
 
18,521,034
Total Information Technology
25,436,691
MATERIALS – (4.27%)
Teck Resources Ltd., Class B (Canada) 
167,710
7,451,355
Total Materials
7,451,355
TOTAL COMMON STOCK –
(Identified cost $143,230,608)
173,519,221
 
 
Principal
Value
SHORT-TERM INVESTMENTS – (0.89%)
Nomura Securities International, Inc. Joint
Repurchase Agreement, 5.30%, 08/01/23  (a)
$777,000
$777,000
StoneX Financial Inc. Joint Repurchase
Agreement, 5.30%, 08/01/23  (b)
773,000
773,000
TOTAL SHORT-TERM INVESTMENTS –
(Identified cost $1,550,000)
1,550,000
Total Investments – (100.25%) –
(Identified cost $144,780,608)
175,069,221
Liabilities Less Other Assets – (0.25%)
(428,690
)
Net Assets – (100.00%)
$174,640,531
 
ADR:
American Depositary Receipt
ADS:
American Depositary Share
 
*
Non-income producing security.
(a)
Dated 07/31/23, repurchase value of $777,114 (collateralized
by: U.S. Government agency mortgages in a pooled cash account, 3.00%-
4.499%, 09/01/43-09/01/49, total market value $792,540).
(b)
Dated 07/31/23, repurchase value of $773,114 (collateralized
by: U.S. Government agency mortgages and obligations in a pooled cash
account, 0.00%-10.00%, 08/25/23-04/20/73, total market value
$788,460).
Please refer to “Notes to Schedule of Investments” on page 4 for the Fund's policy regarding valuation of investments.
For information regarding the Fund's other significant accounting policies, please refer to the Fund's most recent Semi-Annual or Annual Shareholder Report.
3
DAVIS GLOBAL FUND
DAVIS INTERNATIONAL FUND
Notes to Schedule of Investments
July 31, 2023 (Unaudited)

Security Valuation - The Funds' Board of Directors has designated Davis Selected Advisers, L.P. (“Adviser”), the Funds' investment adviser, as the valuation designee for the Funds. The Adviser has established a Pricing Committee to carry out the day-to-day valuation activities for the Funds. The Funds calculate the net asset value of their shares as of the close of the New York Stock Exchange (“Exchange”), normally 4:00 P.M. Eastern time, on each day the Exchange is open for business. Securities listed on the Exchange (and other national exchanges including NASDAQ) are valued at the last reported sales price on the day of valuation. Listed securities for which no sale was reported on that date are valued at the last quoted bid price. Securities traded on foreign exchanges are valued based upon the last sales price on the principal exchange on which the security is traded prior to the time when the Funds' assets are valued. Securities (including restricted securities) for which market quotations are not readily available or securities whose values have been materially affected by what the Adviser identifies as a significant event occurring before the Funds' assets are valued, but after the close of their respective exchanges, will be fair valued using a fair valuation methodology applicable to the security type or the significant event as previously approved by the Pricing Committee. The Pricing Committee considers all facts it deems relevant that are reasonably available, through either public information or information available to the Adviser’s portfolio management team, when determining the fair value of a security. To assess the appropriateness of security valuations, the Pricing Committee may consider (i) comparing prior day prices and/or prices of comparable securities; (ii) comparing sale prices to the prior or current day prices and challenge those prices exceeding certain tolerance levels with the third-party pricing service or broker source; (iii) new rounds of financing; (iv) the performance of the market or the issuer’s industry; (v) the liquidity of the security; (vi) the size of the holding in a fund; and/or (vii) any other appropriate information. The determination of a security’s fair value price often involves the consideration of a number of subjective factors and is therefore subject to the unavoidable risk that the value assigned to a security may be higher or lower than the security’s value would be if a reliable market quotation for the security was readily available.
Short-term investments purchased within 60 days to maturity are valued at amortized cost, which approximates market value.
On a quarterly basis, the Board of Directors receives reports of valuation actions taken by the Pricing Committee. On at least an annual basis, the Board of Directors receives an assessment of the adequacy and effectiveness of the Adviser’s process for determining the fair value of the Funds' investments.
Fair Value Measurements - Fair value is defined as the price that the Funds would receive upon selling an investment in an orderly transaction to an independent buyer in the principal market for the investment. Various inputs are used to determine the fair value of the Funds' investments. These inputs are summarized in the three broad levels listed below.
Level 1 − 
quoted prices in active markets for identical securities
Level 2 − 
other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, credit risk, etc.)
Level 3 − 
significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments)
The inputs or methodologies used for valuing securities are not necessarily an indication of the risks associated with investing in those securities nor can it be assured that the Funds can obtain the fair value assigned to a security if they were to sell the security.
4
DAVIS GLOBAL FUND
DAVIS INTERNATIONAL FUND
Notes to Schedule of Investments - (Continued)
July 31, 2023 (Unaudited)
Security Valuation - (Continued)
Fair Value Measurements - (Continued)
The following is a summary of the inputs used as of July 31, 2023 in valuing each Fund's investments carried at value:
 
 
Investments in Securities at Value
 
Davis Global
Fund
Davis International
Fund
Valuation Inputs
Level 1 – Quoted Prices:
Common Stock:
Communication Services
$107,938,504
$1,341,417
Consumer Discretionary
189,614,566
49,352,986
Consumer Staples
12,421,373
–
Financials
328,310,271
72,867,190
Health Care
36,321,369
–
Industrials
37,670,572
17,069,582
Information Technology
72,952,789
25,436,691
Materials
31,012,140
7,451,355
Total Level 1
816,241,584
173,519,221
Level 2 – Other Significant Observable Inputs:
Short-Term Investments
6,277,000
1,550,000
Total Level 2
6,277,000
1,550,000
Level 3 – Significant Unobservable Inputs:
Common Stock:
Communication Services
35,787
–
Total Level 3
35,787
–
Total Investments
$822,554,371
$175,069,221
The following table reconciles the valuation of assets in which significant unobservable inputs (Level 3) were used in determining fair value during the nine months ended July 31, 2023. The net change in unrealized appreciation (depreciation) during the period on Level 3 securities still held at July 31, 2023 was $1,142 for Davis Global Fund. The cost of purchases or proceeds from sales may include securities received or delivered through corporate actions or exchanges.
 
 
Beginning
Balance at
November 1,
2022
Cost of
Purchases
Proceeds
from Sales
Net Change in
Unrealized
Appreciation
(Depreciation)
Net Realized
Gain (Loss)
Transfers
into
Level 3
Transfers
out of
Level 3
Ending
Balance at
July 31, 2023
Davis Global Fund
Investments in
Securities:
Common Stock
$34,645
$–
$–
$1,142
$–
$–
$–
$35,787
Total Level 3
$34,645
$–
$–
$1,142
$–
$–
$–
$35,787
5
DAVIS GLOBAL FUND
DAVIS INTERNATIONAL FUND
Notes to Schedule of Investments - (Continued)
July 31, 2023 (Unaudited)
Security Valuation - (Continued)
Fair Value Measurements - (Continued)
The following table is a summary of those assets in which significant unobservable inputs (Level 3) were used by the Adviser in determining fair value. Note that these amounts exclude any valuations provided by a pricing service or broker.
 
 
Fair Value at
July 31, 2023
Valuation
Technique
Unobservable
Input
Amount
Impact to
Valuation from
an Increase in Input
Davis Global Fund
 
 
 
 
Investments in Securities:
 
 
 
 
Common Stock
$35,787
Discounted Cash Flow
Annualized Yield
5.528%
Decrease
Total Level 3
$35,787
 
 
 
 
The significant unobservable input listed in the above table is used in the fair value measurement of common stock, and if changed, would affect the fair value of the Fund’s investments. The “Impact to Valuation from an Increase in Input” represents the change in fair value measurement resulting from an increase in the corresponding input. A decrease in the input would have the opposite effect.
Federal Income Taxes
At July 31, 2023, the aggregate cost of investments and unrealized appreciation (depreciation) for federal income tax purposes were as follows:
 
 
Davis Global
Fund
Davis International
Fund
Cost
$609,532,503
$150,079,535
 
Unrealized appreciation
252,839,976
39,726,838
Unrealized depreciation
(39,818,108
)
(14,737,152
)
Net unrealized appreciation
$213,021,868
$24,989,686
6