Over the past quarter Chris Davis of Davis Selected Advisers reported a total portfolio of 181 stocks valued at $38.5 billion. The guru purchased 17 new stocks over the quarter.
The Davis Funds select their stocks based on the types of businesses that they would want to own. Their criterion includes companies with proven management and durable, financially strong business models as well as companies with sustainable competitive advantages.
The following five companies represent Chris Davis' top five stock positions.
American Express (AXP)
Davis' largest position is in American Express where he holds on to a total of 37,113,556 shares of the company's stock. His holdings make up for 7.3% of his total holdings and 3.44% of the company's shares outstanding.
During the past quarter Davis made a slight reduction of his holdings. The guru reduced his position -1.76% by selling 666,306 shares. He sold these shares in the quarterly price range of $71.91 to $78.33, with an estimated average quarterly price of $75.23. Since then the price per share has increased approximately 8.8%.
Davis' historical holding history:
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American Express together with its subsidiaries is a global service company that provides customers with access to products, insights and experiences that enrich lives and build business success. Its principal products and services are charge and credit payment card products.
American Express's historical revenue and net income: