Identifying Great Companies
Now Offered at a Discount

Dominant, growing businesses are currently available at prices not seen in years – Exceptional opportunities for investors who think long term

NEW 2021 PM ANNUAL REVIEW

Our Portfolio Managers on the markets and how we are positioning portfolios now to pursue the
opportunities being created.

  • Davis NY Venture Fund Portfolio Manager Commentary

    “…We have built a portfolio that includes growth companies at value prices and value companies with long-term growth. As a result, the portfolio is positioned with less risk and more relative upside than we have seen since the late 1990s.”

    - PM Chris Davis, Clipper Fund Annual Review 2021

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Current Insights

  • Clipper Fund PM Annual Review 2021

    "A one-year gap of more than 30% between growth and value is one of the widest on record and creates opportunity for investors who recognize the important difference between price and value… While prices can fluctuate with emotions, value is created by earnings."
    - Portfolio Manager Chris Davis

Unique Attributes

  • The Clipper Fund is a no-load equity mutual fund advised by Davis Selected Advisers, L.P. (Davis Advisors). We offer investors a number of unique attributes:

    Sixty Years of Experience

    Davis Advisors has successfully managed money through many environments – including periods of inflation, recession, rising and falling energy prices, rising and falling interest rates, and bull and bear markets.

    Consistency of the Davis Investment Discipline

    For three generations, the Davis family has built wealth by purchasing durable, well-managed businesses at value prices and holding them for the long term.

    Aligned with Shareholders

    With more than $2 billion invested side by side with clients, we experience the same risks and reap the same rewards.1

Fund Snapshot

  •  Fact SheetCommentaryPerformance
         
  • Pricing (as of 02/24/2021)

      Price Change Ticker Fund # CUSIP
    $146.20 1.73 CFIMX 126 188850101

Privacy Statement and Business Continuity Plan | Terms of Use | Proxy Voting Information

This material must be accompanied or preceded by a current Clipper Fund Prospectus. Carefully consider the Fund's investment objective, risks, fees, and expenses before investing or sending money. Read the prospectus carefully before you invest or send money. The prospectus contains this and other information and can be obtained by clicking here or calling 800.432.2504. Davis Distributors, LLC, is the distributor of the Clipper Fund.

1As of December 31, 2019. Includes Davis Advisors, the Davis family and Foundation, our employees, and Fund directors in similarly managed accounts and strategies.

Shares of the Clipper Fund are not deposits or obligations of any bank, are not guaranteed by any bank, are not insured by the FDIC or any other agency, and involve investment risks, including possible loss of the principal amount invested.