UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANANGEMENT INVESTMENT COMPANY

Investment Company Act file number 811-01701

DAVIS SERIES, INC.

(Exact name of registrant as specified in charter)

2949 East Elvira Road, Suite 101

Tucson, AZ 85706

(Address of principal executive offices)

Thomas D. Tays

Davis Selected Advisers, L.P.

2949 East Elvira Road, Suite 101

Tucson, AZ 85706

(Name and address of agent for service)

Registrant’s telephone number, including area code: 520-806-7600

Date of fiscal year end: December 31, 2005

Date of reporting period: September 30, 2005

ITEM 1. SCHEDULE OF INVESTMENTS

DAVIS SERIES, INC.

SCHEDULE OF INVESTMENTS AT SEPTEMBER 30, 2005 (Unaudited)

DAVIS OPPORTUNITY FUND


Shares	Security	Value
COMMON STOCK – (94.13%)

APPAREL RETAIL – (0.51%)
	28,300	Sears Holdings Corp.*	$	3,521,228
AUTOMOBILES & COMPONENTS – (2.61%)
	246,300	Autoliv, Inc.		10,714,050
	211,000	Lear Corp.		7,167,670
				17,881,720
AUTOMOTIVE RETAIL – (8.40%)
	442,200	Advance Auto Parts, Inc.*		17,104,296
	1,230,000	AutoNation, Inc.*		24,563,100
	190,500	AutoZone, Inc.*		15,859,125
				57,526,521
CAPITAL GOODS – (7.30%)
	151,100	Franklin Electric Co., Inc.		6,241,941
	462,000	Hughes Supply, Inc.		15,061,200
	702,500	Robbins & Myers, Inc.		15,792,200
	16,910	Tae Young Corp.		615,793
	442,500	Tyco International Ltd.		12,323,625
				50,034,759
CAPITAL MARKETS – (3.96%)
	947,500	ETRADE Financial Corp.		16,676,000
	19,250	Julius Baer Holding, Ltd. AG		1,506,334
	60,100	Legg Mason, Inc.		6,592,369
	82,700	Refco Inc.*		2,337,929
				27,112,632
COMMERCIAL BANKS – (1.87%)
	418,000	Commerce Bancorp, Inc.		12,828,420
COMMERCIAL SERVICES & SUPPLIES – (0.46%)
	47,500	D&B Corp.*		3,128,825
CONSUMER DURABLES & APPAREL – (5.95%)
	293,100	Garmin Ltd.		19,858,991
	292,464	Hunter Douglas NV		13,926,338
	87,100	Mohawk Industries, Inc.*		6,989,775
				40,775,104
CONSUMER FINANCE – (1.55%)
	417,500	First Marblehead Corp.		10,604,500
CONSUMER SERVICES – (2.36%)
	1,196,000	ServiceMaster Co.		16,193,840
DIVERSIFIED FINANCIAL SERVICES – (6.35%)
	170,700	Groupe Bruxelles Lambert S.A.		16,668,900
	164,241	Pargesa Holding S.A., Bearer Shares		13,879,700

DAVIS SERIES, INC.

SCHEDULE OF INVESTMENTS AT SEPTEMBER 30, 2005 (Unaudited)

DAVIS OPPORTUNITY FUND – (Continued)


Shares	Security	Value
COMMON STOCK – (Continued)

DIVERSIFIED FINANCIAL SERVICES – (Continued)
	472,900	Power Corp. of Canada	$	12,952,375
				43,500,975
ENERGY – (1.79%)
	3,800	Tenaris S.A., ADR		523,792
	191,500	Transocean Inc.*		11,740,865
				12,264,657
FOOD & STAPLES RETAILING – (0.53%)
	85,000	Costco Wholesale Corp.		3,658,825
FOOD, BEVERAGE, & TOBACCO – (2.37%)
	127,125	Heineken Holding NV		3,747,819
	4,400	Lotte Chilsung Beverage Co., Ltd.		4,182,846
	5,160	Lotte Confectionery Co., Ltd.		5,291,040
	35,070	Nong Shim Holdings Co., Ltd.		3,028,085
				16,249,790
GENERAL MERCHANDISE STORE – (0.89%)
	660,500	99 Cents Only Stores*		6,109,625
HEALTH CARE EQUIPMENT & SERVICES – (7.58%)
	90,500	AmerisourceBergen Corp.		6,995,650
	283,000	Cardinal Health, Inc.		17,953,520
	109,400	Fisher Scientific International, Inc.*		6,788,270
	183,600	IDEXX Laboratories, Inc.*		12,278,250
	193,000	Lincare Holdings Inc.*		7,916,860
				51,932,550
HOUSEHOLD & PERSONAL PRODUCTS – (0.66%)
	14,900	Amorepacific Corp.		4,512,123
INSURANCE BROKERS – (3.89%)
	291,000	Brown & Brown, Inc.		14,459,790
	401,500	Marsh & McLennan Cos, Inc.		12,201,585
				26,661,375
LIFE & HEALTH INSURANCE – (0.55%)
	83,000	AFLAC Inc.		3,759,900
MATERIALS – (3.36%)
	324,600	Huntsman Corp.*		6,345,930
	100,000	Sealed Air Corp.*		4,746,000
	186,000	Sigma-Aldrich Corp.		11,914,230
				23,006,160
MEDIA – (7.35%)
	463,000	EchoStar Communications Corp., Class A*		13,702,485
	330,000	Lagardere S.C.A.		23,419,838

DAVIS SERIES, INC.

SCHEDULE OF INVESTMENTS AT SEPTEMBER 30, 2005 (Unaudited)

DAVIS OPPORTUNITY FUND – (Continued)


Shares	Security	Value
COMMON STOCK – (Continued)

MEDIA – (Continued)
	52,000	NTL Inc.*	$	3,471,000
	955,000	WPP Group PLC		9,719,150
				50,312,473
PROPERTY & CASUALTY INSURANCE – (1.84%)
	86,000	Ambac Financial Group, Inc.		6,197,160
	66,150	Cincinnati Financial Corp.		2,771,354
	50,000	FPIC Insurance Group, Inc.*		1,797,750
	5,600	Markel Corp.*		1,850,800
				12,617,064
REINSURANCE – (1.73%)
	42,000	Everest Re Group, Ltd.		4,111,800
	135,625	Transatlantic Holdings, Inc.		7,730,625
				11,842,425
SOFTWARE & SERVICES – (3.53%)
	224,700	Iron Mountain Inc.*		8,246,490
	581,000	Reynolds & Reynolds Co., Class A		15,925,210
				24,171,700
SPECIALTY STORES – (2.15%)
	495,000	Office Depot, Inc.*		14,701,500
TECHNOLOGY HARDWARE & EQUIPMENT – (5.20%)
	401,900	Agilent Technologies, Inc.*		13,162,225
	37,000	Lexmark International, Inc., Class A*		2,258,850
	786,300	Molex Inc., Class A		20,192,184
				35,613,259
TELECOMMUNICATION SERVICES – (3.02%)
	3,144,600	Covad Communications Group, Inc.*		3,348,999
	343,300	SK Telecom Co., Ltd., ADR		7,497,672
	429,600	Telewest Global, Inc.*		9,850,728
				20,697,399
THRIFT & MORTGAGE FINANCE – (2.03%)
	234,000	Golden West Financial Corp.		13,897,260
UTILITIES – (4.34%)
	5,305,000	Calpine Corp.*		13,739,950
	340,000	Sempra Energy		16,000,400
				29,740,350

Total Common Stock – (identified cost $517,121,524)

644,856,959

DAVIS SERIES, INC.

SCHEDULE OF INVESTMENTS AT SEPTEMBER 30, 2005 (Unaudited)

DAVIS OPPORTUNITY FUND – (Continued)


Principal	Security	Value
CONVERTIBLE BONDS – (0.75%)

TELECOMMUNICATION SERVICES – (0.75%)
$	5,600,000	Level 3 Communications, Inc., Conv. Sr. Notes, 10.00%, 05/01/11 (b)
		(identified cost $5,600,000)	$	5,157,600

SHORT TERM INVESTMENTS – (4.57%)

FEDERAL HOME LOAN BANK – (0.34%)
	2,360,000	3.5625%, 10/26/05 – (identified cost $2,354,161)	2,354,161

REPURCHASE AGREEMENTS – (4.23%)

17,581,000	Nomura Securities International, Inc. Joint Repurchase Agreement, 3.87%,
	10/03/05, dated 09/30/05, repurchase value of $17,586,670
	(collateralized by: U.S. Government agency obligations in a pooled
	cash account, total market value $17,932,620)	17,581,000
11,354,000	UBS Financial Services Inc. Joint Repurchase Agreement, 3.87%,
	10/03/05, dated 09/30/05, repurchase value of $11,357,662
	(collateralized by: U.S. Government agency obligations in a pooled
	cash account, total market value $11,581,080)	11,354,000

Total Repurchase Agreements – (identified cost $28,935,000)

28,935,000

Total Short Term Investments – (identified cost $31,289,161)

31,289,161

Total Investments – (99.45%) – (identified cost $554,010,685) – (a)		681,303,720
Other Assets Less Liabilities – (0.55%)		3,749,437
Net Assets – (100%)	$	685,053,157

*Non-Income Producing Security.

(a) Aggregate cost for Federal Income Tax purposes is $555,865,822. At September 30, 2005 unrealized appreciation (depreciation) of securities for Federal Income Tax purposes is as follows:

Unrealized appreciation	$	140,540,661
Unrealized depreciation		(15,102,763	)
Net unrealized appreciation	$	125,437,898

(b) Illiquid Security – Securities may be considered illiquid if they lack a readily available market or if valuation has not changed for a certain period of time. The aggregate value of illiquid securities in Davis Opportunity Fund was $5,157,600, or 0.75% of the Fund’s net assets as of September 30, 2005.

For information regarding the Fund’s policy regarding valuation of investments and other significant accounting policies, please refer to the Fund’s most recent semi-annual or annual shareholder report.

DAVIS SERIES, INC.

SCHEDULE OF INVESTMENTS AT SEPTEMBER 30, 2005 (Unaudited)

DAVIS GOVERNMENT BOND FUND

	Principal	Security	Value
	MORTGAGES – (44.52%)

FANNIE MAE POOLS – (15.70%)
$	411,221	6.324%, 10/01/08 Pool No. 380999	$	413,278
	1,646,559	5.00%, 08/01/11 Pool No. 357609		1,655,401
	6,303,431	6.00%, 09/01/17 Pool No. 665776		6,484,844

		Total FANNIE MAE – (identified cost $8,696,805)		8,553,523

FREDDIE MAC POOLS – (28.82%)
	211,953	5.50%, 10/01/06 Pool No. M90680	213,343
	1,813,058	4.50%, 03/01/08 Pool No. M90803	1,817,953
	1,706,717	3.50%, 08/01/08 Pool No. M90830	1,688,711
	1,981,828	3.00%, 04/01/10 Pool No. M90982	1,907,013
	1,915,957	5.00%, 05/01/10 Pool No. M90980	1,924,464
	4,768,902	5.00%, 06/01/10 Pool No. M90984	4,790,076
	992,445	3.50%, 04/01/12 Pool No. M80974	960,876
	1,145,959	6.50%, 01/01/15 Pool No. G11063	1,180,372
	1,189,392	6.00%, 10/01/16 Pool No. E01054	1,222,731

		Total FREDDIE MAC – (identified cost $15,826,621)	15,705,539

		Total Mortgages – (identified cost $24,523,426)	24,259,062

GOVERNMENT AGENCY NOTES – (53.65%)
	500,000	Fannie Mae, 3.668%, 10/07/05 (b)	500,000
	5,000,000	Fannie Mae, 7.125%, 03/15/07	5,190,550
	2,000,000	Fannie Mae, 6.00%, 05/15/08	2,076,580
	2,500,000	Fannie Mae, 3.80%, 09/29/09	2,431,550
	5,000,000	Federal Farm Credit Bank, 3.67938%, 01/18/06 (b)	5,000,700
	1,000,000	Federal Home Loan Bank, 2.60%, 09/26/06	983,570
	1,000,000	Federal Home Loan Bank, 4.00%, 06/13/08	989,060
	300,000	Federal Home Loan Bank, 5.37%, 07/12/11	299,706
	5,000,000	Freddie Mac, 5.50%, 07/15/06	5,049,650
	1,500,000	Freddie Mac, 3.00%, 09/29/06	1,480,875
	1,000,000	Freddie Mac, 3.00%, 11/17/06	985,320
	4,340,000	Freddie Mac, 3.40%, 10/15/07	4,246,690

		Total Government Agency Notes – (identified cost $29,631,997)	29,234,251

DAVIS SERIES, INC.

SCHEDULE OF INVESTMENTS AT SEPTEMBER 30, 2005 (Unaudited)

DAVIS GOVERNMENT BOND FUND – (Continued)

	Principal	Security	Value
	SHORT TERM INVESTMENTS – (2.49%)

$	822,000	Nomura Securities International, Inc. Joint Repurchase Agreement, 3.87%,
		10/03/05, dated 09/30/05, repurchase value of $822,265
		(collateralized by: U.S. Government agency obligations in a pooled
		cash account, total market value $838,440)	$	822,000
	531,000	UBS Financial Services Inc. Joint Repurchase Agreement, 3.87%,
		10/03/05, dated 09/30/05, repurchase value of $531,171
		(collateralized by: U.S. Government agency obligations in a pooled
		cash account, total market value $541,620)		531,000

Total Short Term Investments – (identified cost $1,353,000)

1,353,000

Total Investments – (100.66%) – (identified cost $55,508,423) – (a)		54,846,313
Liabilities Less Other Assets – (0.66%)		(358,431	)
Net Assets – (100.00%)	$	54,487,882

(a) Aggregate cost for Federal Income Tax purposes is $55,508,423. At September 30, 2005 unrealized appreciation (depreciation) of securities for Federal Income Tax purposes is as follows:

Unrealized appreciation	$	2,337
Unrealized depreciation		(664,447	)
Net unrealized depreciation	$	(662,110	)

(b) The interest rates on floating rate securities, shown as of September 30, 2005, may change daily or less frequently and are based on indices of market interests rates.

DAVIS SERIES, INC.

SCHEDULE OF INVESTMENTS AT SEPTEMBER 30, 2005 (Unaudited)

DAVIS GOVERNMENT MONEY MARKET FUND


Principal				Security		Value
FANNIE MAE – (10.97%)
$		5,000,000	3.38625%, 10/03/05 (b)		$	4,999,978
		6,000,000	3.668%, 10/07/05 (b)			6,000,020
		2,500,000	2.25%, 10/28/05			2,499,806
	4,000,000		2.17%, 11/25/05			3,992,848
	2,000,000		2.25%, 12/09/05			1,996,097
	11,000,000		6.00%, 12/15/05			11,055,608
		1,000,000	5.875%, 02/02/06			1,006,565
		3,855,000	2.03%, 02/09/06			3,830,436
		1,994,000	5.50%, 02/15/06			2,005,400
	6,000,000		2.35%, 04/29/06			5,958,660
	10,000,000		3.84%, 05/09/06 (b)			9,998,804
	5,000,000		2.50%, 05/10/06			4,953,320
		2,475,000	3.02%, 06/01/06			2,457,795
		5,000,000	1.75%, 06/16/06			4,915,604

			Total FANNIE MAE – (identified cost $65,670,941)			65,670,941

FEDERAL HOME LOAN BANK – (19.81%)
	1,500,000	3.61125%, 10/05/05 (b)	1,499,993
	8,000,000	2.125%, 11/15/05	7,987,987
	4,500,000	4.375%, 11/15/05	4,505,289
	1,600,000	6.49%, 11/18/05 (b)	1,606,037
	500,000	1.875%, 12/09/05	498,406
	2,000,000	2.875%, 12/30/05	1,995,921
	1,000,000	1.75%, 01/12/06	995,165
	3,000,000	1.75%, 01/12/06	2,985,534
	905,000	2.60%, 01/27/06 (c)	900,781
	2,910,000	2.00%, 02/13/06	2,891,154
	4,500,000	3.00%, 03/17/06	4,481,650
	5,000,000	4.00%, 03/28/06	5,000,000
	5,000,000	1.86%, 04/07/06	4,944,649
	8,000,000	4.00%, 04/21/06	7,999,050
	8,000,000	3.50%, 04/25/06 (d)	8,000,000
	1,500,000	2.02%, 04/28/06	1,485,275
	5,050,000	3.68%, 04/28/06 (b)	5,047,764
	7,940,000	5.375%, 05/15/06	7,997,944

DAVIS SERIES, INC.

SCHEDULE OF INVESTMENTS AT SEPTEMBER 30, 2005 (Unaudited)

DAVIS GOVERNMENT MONEY MARKET FUND – (Continued)


Principal				Security		Value
FEDERAL HOME LOAN BANK – (Continued)
$		1,040,000	3.00%, 06/01/06		$	1,033,343
	1,270,000		3.45%, 06/22/06 (d)			1,270,000
	1,000,000		2.25%, 06/23/06			988,139
	22,500,000		3.625%, 07/21/06 (d)			22,500,000
	15,000,000		3.59%, 08/02/06 (b)			15,000,000

			Total Federal Home Loan Bank – (identified cost $111,614,082)			111,614,081

FREDDIE MAC – (8.24%)
	2,765,000	2.01%, 10/06/05	2,764,544
	5,500,000	2.125%, 11/15/05	5,492,167
	3,021,000	2.30%, 11/17/05	3,016,816
	1,000,000	2.25%, 11/28/05	998,205
	1,065,000	2.50%, 12/16/05	1,062,381
	7,500,000	5.25%, 01/15/06	7,530,677
	3,165,000	5.95%, 01/19/06	3,186,565
	6,000,000	2.15%, 02/10/06	5,962,821
	4,000,000	2.25%, 02/17/06	3,975,784
	4,200,000	6.28%, 03/06/06	4,250,366
	4,295,000	2.15%, 06/02/06	4,243,529
	1,000,000	2.50%, 06/12/06 (d)	988,094
	2,000,000	1.875%, 06/30/06	1,968,110

		Total FREDDIE MAC – (identified cost $45,440,059)	45,440,059

DAVIS SERIES, INC.

SCHEDULE OF INVESTMENTS AT SEPTEMBER 30, 2005 (Unaudited)

DAVIS GOVERNMENT MONEY MARKET FUND – (Continued)


Principal	Security	Value
REPURCHASE AGREEMENTS – (60.87%)

$	208,411,000	Nomura Securities International, Inc. Joint Repurchase Agreement, 3.87%,
		10/03/05, dated 09/30/05, repurchase value of $208,478,213
		(collateralized by: U.S. Government agency obligations in a pooled
		cash account, total market value $212,579,220)	$	208,411,000
	134,592,000	UBS Financial Services Inc. Joint Repurchase Agreement, 3.87%,
		10/03/05, dated 09/30/05, repurchase value of $134,635,406
		(collateralized by: U.S. Government agency obligations in a pooled
		cash account, total market value $137,283,840)		134,592,000

Total Repurchase Agreements – (identified cost $343,003,000)

343,003,000

Total Investments – (100.51%) – (identified cost $570,194,907) – (a)		570,194,907
Liabilities Less Other Assets – (0.51%)		(8,096,565	)
Net Assets – (100%)	$	562,098,342

(a)	Aggregate cost for Federal Income Tax Purposes is $570,194,907.

(b) The interest rates on floating rate securities, shown as of September 30, 2005, may change daily or less frequently and are based on indices of market interests rates. For purposes of amortized cost valuation, the maturity dates of these securities are considered to be the effective maturities, based on the reset dates of the securities’ variable rates.

(c)	The interest rates on variable rate securities represents the current rate as of September 30, 2005.

(d) Represents a step-up bond: a bond that pays one coupon rate for an initial period followed by a higher coupon rate.

DAVIS SERIES, INC.

SCHEDULE OF INVESTMENTS AT SEPTEMBER 30, 2005 (Unaudited)

DAVIS FINANCIAL FUND


Shares	Security	Value
COMMON STOCK – (99.94%)

CAPITAL GOODS – (7.94%)
	2,450,000	Tyco International Ltd.	$	68,232,500
COMMERCIAL BANKS – (4.32%)
	1,208,000	Commerce Bancorp, Inc.		37,073,520
COMMERCIAL SERVICES & SUPPLIES – (6.78%)
	883,750	D&B Corp.*		58,212,613
CONSUMER FINANCE – (14.85%)
	1,949,000	American Express Co.		111,950,560
	615,000	First Marblehead Corp.		15,621,000
				127,571,560
CONSUMER SERVICES – (2.21%)
	791,000	H&R Block, Inc.		18,968,180
DIVERSIFIED FINANCIAL SERVICES – (8.87%)
	96,333	Citigroup Inc.		4,385,078
	802,560	JPMorgan Chase & Co.		27,230,861
	872,600	Moody’s Corp.		44,572,408
				76,188,347
FOOD, BEVERAGE, & TOBACCO – (3.47%)
	405,000	Altria Group, Inc.		29,852,550
LIFE & HEALTH INSURANCE – (0.75%)
	208,700	China Life Insurance Co., Ltd., ADR*		6,440,482
MATERIALS – (2.54%)
	459,000	Sealed Air Corp.*		21,784,140
MULTI-LINE INSURANCE – (11.35%)
	826,796	American International Group, Inc.		51,228,280
	501,200	Loews Corp.		46,315,892
				97,544,172
PROPERTY & CASUALTY INSURANCE – (17.86%)
	597	Berkshire Hathaway Inc., Class A*		48,954,000
	731,356	Cincinnati Financial Corp.		30,640,160
	337,300	FPIC Insurance Group, Inc.*		12,127,621
	88,200	Markel Corp.*		29,150,100
	311,000	Progressive Corp. (Ohio)		32,583,470
				153,455,351
REINSURANCE – (12.04%)
	225,000	Everest Re Group, Ltd.		22,027,500
	1,428,187	Transatlantic Holdings, Inc.		81,406,659
				103,434,159

DAVIS SERIES, INC.

SCHEDULE OF INVESTMENTS AT SEPTEMBER 30, 2005 (Unaudited)

DAVIS FINANCIAL FUND – (Continued)

	Shares/Principal	Security	Value
	COMMON STOCK – (Continued)

THRIFT & MORTGAGE FINANCE – (6.96%)
	1,007,400	Golden West Financial Corp.	$	59,829,486

Total Common Stock – (identified cost $453,411,939)

858,587,060

SHORT TERM INVESTMENTS – (0.13%)

$	681,000	Nomura Securities International, Inc. Joint Repurchase Agreement, 3.87%,
		10/03/05, dated 09/30/05, repurchase value of $681,220
		(collateralized by: U.S. Government agency obligations in a pooled
		cash account, total market value $694,620)	681,000
	440,000	UBS Financial Services Inc. Joint Repurchase Agreement, 3.87%,
		10/03/05, dated 09/30/05, repurchase value of $440,142
		(collateralized by: U.S. Government agency obligations in a pooled
		cash account, total market value $448,800)	440,000

Total Short Term Investments – (identified cost $1,121,000)

1,121,000

Total Investments – (100.07%) – (identified cost $454,532,939) – (a)		859,708,060
Liabilities Less Other Assets – (0.07%)		(565,722	)
Net Assets – (100%)	$	859,142,338

*Non-Income Producing Security.

(a) Aggregate cost for Federal Income Tax purposes is $454,530,384. At September 30, 2005 unrealized appreciation (depreciation) of securities for Federal Income Tax purposes is as follows:

Unrealized appreciation	$	406,867,986
Unrealized depreciation		(1,690,310	)
Net unrealized appreciation	$	405,177,676

DAVIS SERIES, INC.

SCHEDULE OF INVESTMENTS AT SEPTEMBER 30, 2005 (Unaudited)

DAVIS APPRECIATION & INCOME FUND


Shares/Principal	Security	Value
CONVERTIBLE Preferred Stock – (6.39%)

CAPITAL GOODS – (1.79%)
	166,700	United Rentals Trust I, 6.50%, 08/01/28, Conv. Pfd.	$	6,751,350
COMMERCIAL BANKS – (0.97%)
	90,000	HSBC Finance Corp., (Convertible into HSBC Holdings PLC),
		8.875%, 02/15/06, Adjustable Conversion-Rate Equity Security
		Cum. Conv. Pfd.		3,679,200
PROPERTY & CASUALTY INSURANCE – (0.76%)
	119,400	Travelers Property Casualty Corp., 4.50%, 04/15/32, Conv. Pfd.		2,872,764
TRANSPORTATION – (0.73%)
	161,300	Continental Airlines Finance Trust II, 6.00%, 11/15/30, Cum. Conv. Pfd.		2,742,100
UTILITIES – (2.14%)
	169,500	AES Trust III, 6.75%, 10/15/29, Conv. Pfd.		8,085,150

		Total Convertible Preferred Stock – (identified cost $20,839,386)		24,130,564

Convertible Bonds – (44.47%)

CAPITAL GOODS – (4.33%)
$		13,600,000	Masco Corp., Series B Conv. Sr. Notes, Zero Cpn., 2.95%,
			07/20/31 (c)(d)	6,307,000
		5,500,000	Quanta Services, Inc., Conv. Sub. Deb., 4.50%, 10/01/23	7,129,375
		3,000,000	Quanta Services, Inc., Conv. Sub. Notes, 4.00%, 07/01/07	2,917,500
				16,353,875
COMMERCIAL SERVICES & SUPPLIES – (7.26%)
		9,160,000	NCO Group Inc., Conv. Sub. Notes, 4.75%, 04/15/06	9,148,550
		7,200,000	School Specialty, Inc., Conv. Sub. Notes, 3.75%/Zero Cpn., 08/01/23 (e)	8,793,000
		8,260,000	Waste Connections, Inc., Conv. Sub. Notes, 4.19313%, 05/01/22 (f)	9,449,440
				27,390,990
CONSUMER FINANCE – (5.16%)
	11,100,000		American Express Co., Ser. 144A Conv. Sr. Notes, 1.85%/Zero Cpn.,
			12/01/33 (b)(e)	11,766,000
	14,200,000		Providian Financial Corp., Conv. Notes, Zero Cpn.,
			6.58%, 02/15/21 (c)(d)	7,685,750
				19,451,750
CONSUMER SERVICES – (3.03%)
		4,900,000	GTECH Holdings Corp., Conv. Deb., 1.75%, 12/15/21	11,447,625
ENERGY – (5.77%)
	12,400,000		Lehman Brothers Holdings Inc., Conv. Notes, (Convertible into
			Devon Energy Corp.), 0.25%, 08/23/11 (g)	21,758,280

DAVIS SERIES, INC.

SCHEDULE OF INVESTMENTS AT SEPTEMBER 30, 2005 (Unaudited)

DAVIS APPRECIATION & INCOME FUND – (Continued)


Principal	Security	Value
CONVERTIBLE BONDS – (Continued)

FOOD & STAPLES RETAILING – (0.73%)
$		2,800,000	Costco Wholesale Corp., Conv. Sub. Notes, Zero Cpn., 1.03%,
			08/19/17 (c)(d)	$	2,758,000
HEALTH CARE EQUIPMENT & SERVICES – (2.62%)
	16,900,000		Universal Health Services, Inc., Conv. Deb., 0.426%, 06/23/20		9,886,500
MATERIALS – (2.30%)
		9,000,000	Sealed Air Corp., Ser. 144A Conv. Sr. Notes, 3.00%, 06/30/33 (b)		8,696,250
MEDIA – (2.04%)
	13,050,000		News America Inc., Conv. Notes, Zero Cpn., 3.36%, 02/28/21 (c)(d)		7,683,188
MULTI-LINE INSURANCE – (3.92%)
		2,500,000	American International Group, Inc., Conv. Sr. Deb., Zero Cpn., 1.76%,
			11/09/31 (c)(d)		1,696,875
	13,895,000		American International Group, Inc., Conv. Sr. Notes, 0.50%, 05/15/07		13,113,406
					14,810,281
PHARMACEUTICALS & BIOTECHNOLOGY – (1.06%)
		4,400,000	Valeant Pharmaceuticals International, Conv. Sub. Notes,
			4.00%, 11/15/13		4,009,500
REAL ESTATE – (2.42%)
		8,500,000	Vornado Realty L.P., Conv. Sr. Deb., 3.875%, 04/15/25		9,116,250
RESIDENTIAL/COMMERCIAL BUILDING – (0.50%)
		1,600,000	WCI Communities, Inc., Ser. 144A Conv. Sr. Sub. Notes, 4.00%,
			08/05/23 (b)		1,880,000
SEMICONDUCTOR & SEMICONDUCTOR EQUIPMENT – (3.33%)
		2,675,000	Fairchild Semiconductor Corp., Conv. Sr. Sub., 5.00%, 11/01/08		2,648,250
	10,220,000		International Rectifier Corp., Conv. Sub. Notes, 4.25%, 07/15/07		9,913,400
					12,561,650

Total Convertible Bonds – (identified cost $149,666,601)

167,804,139

CORPORATE Bonds – (0.87%)

Total Corporate Bonds – (identified cost $3,403,125)

3,265,386

DAVIS SERIES, INC.

SCHEDULE OF INVESTMENTS AT SEPTEMBER 30, 2005 (Unaudited)

DAVIS APPRECIATION & INCOME FUND – (Continued)


Shares	Security	Value
COMMON STOCK – (19.81%)

AUTOMOTIVE RETAIL – (1.39%)
	62,900	AutoZone, Inc.*	$	2,721,316

CAPITAL GOODS – (1.76%)
	88,700	Masco Corp.	2,721,316
	306,700	Quanta Services, Inc.*	3,913,492
			6,634,808
COMMERCIAL SERVICES & SUPPLIES – (1.10%)
	118,000	Waste Connections, Inc.*	4,139,440
DEPARTMENT STORES – (1.76%)
	140,350	J. C. Penney Co., Inc.	6,655,397
DIVERSIFIED FINANCIAL SERVICES – (1.35%)
	111,500	Citigroup Inc.	5,075,480
ENERGY – (0.33%)
	14,500	Occidental Petroleum Corp.	1,238,735
FOOD & STAPLES RETAILING – (0.74%)
	64,900	Costco Wholesale Corp.	2,793,621
MEDIA – (0.50%)
	115,000	News Corp., Class B	1,897,500
MULTI-LINE INSURANCE – (0.41%)
	24,900	American International Group, Inc.	1,542,804
REAL ESTATE – (9.29%)
	163,112	Centerpoint Properties Trust	7,307,417
	245,667	General Growth Properties, Inc.	11,037,818
	245,160	SL Green Realty Corp.	16,715,009
			35,060,244
SOFTWARE & SERVICES – (1.18%)
	103,000	SAP AG-ADR	4,462,990

Total Common Stock – (identified cost $38,889,492)

74,737,444

DAVIS SERIES, INC.

SCHEDULE OF INVESTMENTS AT SEPTEMBER 30, 2005 (Unaudited)

DAVIS APPRECIATION & INCOME FUND – (Continued)


Principal	Security	Value
SHORT TERM INVESTMENTS – (27.91%)

$	63,993,000	Nomura Securities International, Inc. Joint Repurchase Agreement, 3.87%,
		10/03/05, dated 09/30/05, repurchase value of $64,013,638
		(collateralized by: U.S. Government agency obligations in a pooled
		cash account, total market value $65,272,860)	$	63,993,000
	41,326,000	UBS Financial Services Inc. Joint Repurchase Agreement, 3.87%,
		10/03/05, dated 09/30/05, repurchase value of $41,339,328
		(collateralized by: U.S. Government agency obligations in a pooled
		cash account, total market value $42,152,520)		41,326,000

Total Short Term Investments – (identified cost $105,319,000)

105,319,000

Total Investments – (99.45%) – (identified cost $318,117,604) – (a)		375,256,533
Other Assets Less Liabilities – (0.55%)		2,077,747
Net Assets – (100.00%)	$	377,334,280

*Non-Income Producing Security.

(a) Aggregate cost for Federal Income Tax purposes is $318,199,030. At September 30, 2005 unrealized appreciation (depreciation) of securities for Federal Income Tax purposes is as follows:

Unrealized appreciation	$	61,495,253
Unrealized depreciation		(4,437,750	)
Net unrealized appreciation	$	57,057,503

(b) These securities are subject to Rule 144A. The Board of Directors of the Fund has determined that there is sufficient liquidity in these securities to realize current valuations. These securities amounted to $22,342,250 or 5.92% of the Fund’s net assets, as of September 30, 2005.

(c) As of September 30, 2005, zero coupon bonds represented $26,130,813 or 6.93% of the Fund’s net assets. Because zero coupon bonds pay no interest their value is generally more volatile than the value of other debt securities.

(d)	Zero coupon bonds reflect effective yield on the date of purchase.

(e) Represents a step-down bond: a bond that pays one coupon rate for an initial period followed by a lower coupon rate.

(f) The interest rates on floating rate securities, shown as of September 30, 2005, may change daily or less frequently.

(g) Illiquid Security – Securities may be considered illiquid if they lack a readily available market or if valuation has not changed for a certain period of time. The aggregate value of illiquid securities in Davis Appreciation & Income Fund was $21,758,280, or 5.77% of the Fund’s net assets as of September 30, 2005.

DAVIS SERIES, INC.

SCHEDULE OF INVESTMENTS AT SEPTEMBER 30, 2005 (Unaudited)

DAVIS REAL ESTATE FUND


Shares	Security	Value
COMMON STOCK – (98.28%)

APARTMENTS (REITS) – (11.93%)
	498,800	American Campus Communities, Inc.	$	11,981,176
	324,000	Archstone-Smith Trust		12,917,880
	218,000	Camden Property Trust		12,153,500
	229,333	Essex Property Trust, Inc.		20,639,970
	771,921	United Dominion Realty Trust, Inc.		18,294,528
				75,987,054
DIVERSIFIED (REITS) – (13.38%)
	587,300	Capital Automotive REIT		22,731,447
	670,000	Cousins Properties, Inc.		20,247,400
	520,673	Duke Realty Corp.		17,640,401
	284,562	Vornado Realty Trust.		24,648,761
				85,268,009
HEALTH CARE (REITS) – (1.98%)
	391,000	Ventas, Inc.		12,590,200
MORTGAGE (REITS) – (1.45%)
	384,300	Gramercy Capital Corp.		9,207,828
OFFICE PROPERTY (REITS) – (26.90%)
	289,113	Alexandria Real Estate Equities, Inc.		23,906,754
	416,900	Arden Realty, Inc.		17,163,773
	259,842	Boston Properties, Inc.		18,422,798
	585,400	Brandywine Realty Trust		18,200,086
	460,356	CarrAmerica Realty Corp.		16,549,798
	415,400	Columbia Equity Trust Inc.		6,064,840
	618,138	Corporate Office Properties Trust		21,603,923
	388,600	Kilroy Realty Corp.		21,773,258
	406,358	SL Green Realty Corp.		27,705,488
				171,390,718
REAL ESTATE OPERATIONS/DEVELOPMENT – (8.54%)
	1,420,183	Brixton PLC		9,775,440
	148,600	Derwent Valley Holdings PLC		3,423,033
	698,284	Forest City Enterprises, Inc., Class A		26,604,620
	184,000	Hammerson PLC		3,023,081
	490,000	Liberty International PLC.		8,599,402
	319,000	Slough Estates PLC		2,996,121
				54,421,697
REGIONAL MALLS (REITS) – (9.05%)
	547,557	General Growth Properties, Inc.		24,601,736
	246,800	Mills Corp.		13,593,744

DAVIS SERIES, INC.

SCHEDULE OF INVESTMENTS AT SEPTEMBER 30, 2005 (Unaudited)

DAVIS REAL ESTATE FUND – (Continued)


Shares	Security	Value
COMMON STOCK – (Continued)

REGIONAL MALLS (REITS) – (Continued)
	135,200	Pennsylvania REIT	$	5,702,736
	185,253	Simon Property Group, Inc.		13,730,952
				57,629,168
SHOPPING CENTERS (REITS) – (12.35%)
	476,808	Developers Diversified Realty Corp.		22,266,934
	625,590	Kimco Realty Corp.		19,656,038
	270,400	Pan Pacific Retail Properties, Inc.		17,819,360
	329,778	Regency Centers Corp.		18,945,746
				78,688,078
WAREHOUSE & INDUSTRIAL (REITS) – (12.58%)
	280,500	AMB Property Corp.		12,594,450
	948,254	Centerpoint Properties Trust		42,481,779
	566,492	ProLogis		25,101,261
				80,177,490
TRANSPORTATION – (0.12%)
	17,100	Florida East Coast Industries, Inc.		774,459

Total Common Stock – (identified cost $404,356,814)

626,134,701

PREFERRED STOCK – (0.46%)

APARTMENTS (REITS) – (0.46%)
	43,700	Equity Residential, 7.00%, Series E, Cum. Conv. Pfd.	1,851,788
	32,000	Equity Residential, 8.60%, Series D, Cum. Pfd.	856,000
	10,000	Equity Residential, 9.125%, Series C, Cum. Pfd.	258,450

Total Preferred Stock – (identified cost $2,204,017)

2,966,238

DAVIS SERIES, INC.

SCHEDULE OF INVESTMENTS AT SEPTEMBER 30, 2005 (Unaudited)

DAVIS REAL ESTATE FUND – (Continued)


Principal	Security	Value
SHORT TERM INVESTMENTS – (1.02%)

$	3,935,000	Nomura Securities International, Inc. Joint Repurchase Agreement, 3.87%,
		10/03/05, dated 09/30/05, repurchase value of $3,936,269
		(collateralized by: U.S. Government agency obligations in a pooled
		cash account, total market value $4,013,700)	$	3,935,000
	2,541,000	UBS Financial Services Inc. Joint Repurchase Agreement, 3.87%,
		10/03/05, dated 09/30/05, repurchase value of $2,541,819
		(collateralized by: U.S. Government agency obligations in a pooled
		cash account, total market value $2,541,819)		2,541,000

Total Short Term Investments – (identified cost $6,476,000)

6,476,000

Total Investments – (99.76%) – (identified cost $413,036,831) – (a)		635,576,939
Other Assets Less Liabilities – (0.24%)		1,506,767
Net Assets – (100.00%)	$	637,083,706

*Non-Income Producing Security.

(a) Aggregate cost for Federal Income Tax purposes is $415,381,353. At September 30, 2005 unrealized appreciation (depreciation) of securities for Federal Income Tax purposes is as follows:

Unrealized appreciation	$	221,277,041
Unrealized depreciation		(1,081,455	)
Net unrealized appreciation	$	220,195,586

ITEM 2. CONTROLS AND PROCEDURES

(a)

The registrant's principal executive officer and principal financial officer have concluded that the registrant's disclosure controls and procedures (as defined in Rule 30a-2(c) under the Investment Company Act of 1940, as amended) are effective as of a date within 90 days of the filing date of this report.

(b)

There have been no significant changes in the registrant's internal controls or in other factors that could significantly affect these controls.

ITEM 3. EXHIBITS

EX-99.CERT - Section 302 Certification

Signatures

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

DAVIS SERIES, INC.

By /s/ Kenneth C. Eich

Kenneth C. Eich

Principal Executive Officer

Date: November 29, 2005

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

By /s/ Kenneth C. Eich

Kenneth C. Eich

Principal Executive Officer

Date: November 29, 2005

By /s/ Douglas A. Haines

Douglas A. Haines

Principal Financial officer

Date: November 29, 2005

FEDERAL FARM CREDIT BANK – (0.62%)

2.25%, 01/30/06

2.00%, 03/08/06

2.88%, 06/29/06

Total Federal Farm Credit Bank – (identified cost $4,466,826)