Davis Select U.S. Equity ETF(CBOE:DUSA)

DUSA s active management takes a bottom-up approach to the US large-cap equity market, emphasizing individual security selection and focusing particularly on the quality of a companys management, business model and competitive advantages. The fund manager aims to purchase securities at a discount to intrinsic value, ideally holding these positions for at least five years. While DUSA is primarily focused on US large-caps, the fund may access the entire market-cap spectrum at the managers discretion. The portfolio typically consists of 15 to 35 companies. The fund is non-diversified, allowing concentration on fewer names. Up to 20% of assets may be invested in non-US companies. Positions are sold if they exceed estimated intrinsic value or to pursue perceived better opportunities.