By
Borsgade
Davis Funds, led by Christopher Davis, has just released their Q3 2023 letter to shareholders.
Here they describe exploiting the volatility in the market to buy up and sell the big tech companies Amazon, Meta and Alphabet. For example, they bought a large position Meta last year when the price dropped significantly and have continuously trimmed the position this year as the price has approached their fair value assessment.
There are also a few new names and increased positions in the portfolio, with particular emphasis on the healthcare sector as interesting.
In the attractive healthcare sector, we look beyond the obvious to identify businesses that simultaneously have exposure to this growth industry and also trade at low prices. We’re especially drawn to companies like Cigna Group, Viatris and Quest Diagnostics, whose products or services play a part in helping to mitigate healthcare’s constantly rising costs.
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