Famed value investor Chris Davis runs Davis Selected Advisors, a hedge fund with $19.9 billion in assets under management. While there are many value investors I admire, Davis is among my favorites.
There are over 100 stocks in his portfolio, but a good percentage of them are financial stocks, including Capital One Financial (NYSE:COF), Wells Fargo (NYSE:WFC), and Bank of America (NYSE:BAC). In the second quarter, Davis trimmed his position in every single bank stock except two. For them, he added more shares to his holdings. Let’s see why they might have merited greater love than their peers.
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