By
Borsgade
The two portfolio managers at Davis Funds, Christopher Davis and Danton Goei, provide an update on the past quarter and what changes they have made to the portfolio.
In relation to changes to the portfolio, they write about their investments in Alphabet, Meta and Amazon as well as a new investment in IAC:
In big technology, the huge price volatility of leaders like Alphabet, Meta and Amazon can come with opportunity—trimming when prices are high and adding when they are low. For example, we added significantly to Meta last year at less than half of today’s price and have recently trimmed our positions in Alphabet and Meta as their shares swung back into favor.
We have also added to our holdings in a lesser-known but spectacularly well-managed company called IAC. IAC owns dozens of popular online brands and services including Angi, Vimeo, Dotdash Meredith (Investopedia, People) as well as a large position in MGM Resorts.
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