DAVIS SERIES, INC.	Schedule of Investments
DAVIS OPPORTUNITY FUND	March 31, 2021 (Unaudited)

						Shares/Units		Value
COMMON STOCK – (87.71%)
	COMMUNICATION SERVICES – (6.43%)
		Media & Entertainment – (6.43%)
				Alphabet Inc., Class C  *			10,570	$	21,865,419
				ASAC II L.P.  *(a)(b)			116,129		118,858
				Facebook, Inc., Class A  *			10,503		3,093,449
				IAC/InterActiveCorp  *			49,810		10,774,401
					Total Communication Services				35,852,127
	CONSUMER DISCRETIONARY – (4.01%)
		Retailing – (4.01%)
				Amazon.com, Inc.  *			2,878		8,904,762
				Quotient Technology Inc.  *			653,953		10,685,592
				Vroom, Inc.  *			69,990		2,728,910
					Total Consumer Discretionary				22,319,264
	FINANCIALS – (22.95%)
		Banks – (10.67%)
				U.S. Bancorp			502,540		27,795,487
				Wells Fargo & Co.			810,781		31,677,214
									59,472,701
		Diversified Financials – (7.24%)
			Consumer Finance – (5.23%)
				Capital One Financial Corp.			228,900		29,122,947
			Diversified Financial Services – (2.01%)
				Berkshire Hathaway Inc., Class B  *			43,793		11,187,798
									40,310,745
		Insurance – (5.04%)
			Life & Health Insurance – (2.34%)
				AIA Group Ltd.  (Hong Kong)			1,077,000		13,064,033
			Property & Casualty Insurance – (2.70%)
				Markel Corp.  *			13,196		15,038,426
									28,102,459
					Total Financials				127,885,905
	HEALTH CARE – (21.70%)
		Health Care Equipment & Services – (19.24%)
				Cigna Corp.			122,662		29,652,312
				CVS Health Corp.			81,829		6,155,995
				Humana Inc.			23,355		9,791,584
				Quest Diagnostics Inc.			265,013		34,011,768
				UnitedHealth Group Inc.			74,225		27,616,896
									107,228,555
		Pharmaceuticals, Biotechnology & Life Sciences – (2.46%)
				Viatris Inc.  *			979,710		13,686,549
					Total Health Care				120,915,104
	INDUSTRIALS – (22.55%)
		Capital Goods – (22.50%)
			Aerospace & Defense – (3.66%)
				Raytheon Technologies Corp.			263,964		20,396,499
			Building Products – (12.65%)
				Carrier Global Corp.			758,846		32,038,478
				Johnson Controls International plc			234,412		13,987,364

1

DAVIS SERIES, INC.	Schedule of Investments
DAVIS OPPORTUNITY FUND - (CONTINUED)	March 31, 2021 (Unaudited)

							Shares		Value
COMMON STOCK – (CONTINUED)
	INDUSTRIALS – (CONTINUED)
		Capital Goods – (Continued)
			Building Products – (Continued)
				Owens Corning				265,610	$	24,460,025
										70,485,867
			Electrical Equipment – (4.80%)
				Eaton Corp. PLC				75,677		10,464,615
				Schneider Electric SE  (France)				106,520		16,270,310
										26,734,925
			Trading Companies & Distributors – (1.39%)
				Ferguson PLC  (United Kingdom)				64,985		7,765,511
										125,382,802
		Commercial & Professional Services – (0.05%)
				China Index Holdings Ltd., ADR  (China)*				112,058		244,286
						Total Industrials				125,627,088
	INFORMATION TECHNOLOGY – (10.07%)
		Semiconductors & Semiconductor Equipment – (6.28%)
				Applied Materials, Inc.				98,490		13,158,264
				Intel Corp.				184,500		11,808,000
				Texas Instruments Inc.				52,892		9,996,059
										34,962,323
		Software & Services – (3.79%)
				DXC Technology Co.  *				47,950		1,498,917
				Microsoft Corp.				18,279		4,309,640
				Oracle Corp.				99,500		6,981,915
				SAP SE, ADR  (Germany)				39,545		4,855,731
				VMware, Inc., Class A  *				23,130		3,479,908
										21,126,111
						Total Information Technology				56,088,434
					TOTAL COMMON STOCK – (Identified cost $278,523,444)					488,687,922
PREFERRED STOCK – (10.13%)
	CONSUMER DISCRETIONARY – (2.35%)
		Retailing – (2.35%)
				Missfresh Ltd., Series E  (China)*(a)(b)				2,487,069		13,115,061
						Total Consumer Discretionary				13,115,061
	INDUSTRIALS – (7.78%)
		Transportation – (7.78%)
				Didi Chuxing Joint Co., Series A  (China)*(a)(b)				416,153		16,991,527
				Didi Chuxing Joint Co., Series B-2  (China)*(a)(b)				52,649		2,149,659
				Grab Holdings Inc., Series F  (Singapore)*(a)(b)				2,911,103		16,302,177
				Grab Holdings Inc., Series G  (Singapore)*(a)(b)				1,406,824		7,878,214
						Total Industrials				43,321,577
					TOTAL PREFERRED STOCK – (Identified cost $46,710,667)					56,436,638

2

DAVIS SERIES, INC.	Schedule of Investments
DAVIS OPPORTUNITY FUND - (CONTINUED)	March 31, 2021 (Unaudited)

							Principal			Value
SHORT-TERM INVESTMENTS – (2.16%)
			StoneX Financial Inc. Joint Repurchase Agreement, 0.02%, 04/01/21, dated 03/31/21, repurchase value of $5,490,003 (collateralized by: U.S. Government agency mortgages and obligations in a pooled cash account, 0.00%-7.50%, 04/15/21-02/20/51, total market value $5,599,800)					$	5,490,000	$	5,490,000
			Truist Securities, Inc. Joint Repurchase Agreement, 0.02%, 04/01/21, dated 03/31/21, repurchase value of $6,576,004 (collateralized by: U.S. Government agency mortgages in a pooled cash account, 1.50%-2.50%, 03/01/31-04/01/51, total market value $6,707,520)						6,576,000		6,576,000
					TOTAL SHORT-TERM INVESTMENTS – (Identified cost $12,066,000)						12,066,000
				Total Investments – (100.00%) – (Identified cost $337,300,111)							557,190,560
				Liabilities Less Other Assets – (0.00%)							(7,552)
						Net Assets – (100.00%)				$	557,183,008
	ADR: American Depositary Receipt
	*	Non-income producing security.
	(a)	Restricted securities are not registered under the Securities Act of 1933 and may have contractual restrictions on resale. They are fair valued under methods approved by the Board of Directors. The aggregate value of restricted securities amounted to $56,555,496 or 10.15% of the Fund's net assets as of March 31, 2021.
	(b)	The value of this security was determined using significant unobservable inputs.
Please refer to "Notes to Schedule of Investments" on page 13 for the Fund's policy regarding valuation of investments.
For information regarding the Fund's other significant accounting policies, please refer to the Fund's most recent Semi-Annual or Annual Shareholder Report.

3

DAVIS SERIES, INC.	Schedule of Investments
DAVIS GOVERNMENT BOND FUND	March 31, 2021 (Unaudited)

				Principal			Value
MORTGAGES – (79.75%)
	COLLATERALIZED MORTGAGE OBLIGATIONS – (49.10%)
		Fannie Mae, 0.4586% (1 month LIBOR + 35), 07/25/37   (a)			$	17,567	$	17,694
		Fannie Mae, 3.50%, 01/25/39				476,974		495,073
		Fannie Mae, 0.9186% (1 month LIBOR + 81), 12/25/39   (a)				1,038,873		1,054,019
		Fannie Mae, 0.5086% (1 month LIBOR + 40), 09/25/40   (a)				479,203		475,551
		Fannie Mae, 3.00%, 04/25/41				483,264		501,942
		Fannie Mae, 2.00%, 12/25/42				350,552		353,612
		Fannie Mae, 2.50%, 07/25/47				361,164		376,187
		Freddie Mac, 4.00%, 06/15/26				293,629		304,565
		Freddie Mac, 2.00%, 06/15/28				540,766		550,922
		Freddie Mac, 2.50%, 01/15/29				258,003		266,423
		Freddie Mac, 4.00%, 12/15/39				25,449		25,497
		Freddie Mac, 2.00%, 11/15/40				145,754		146,584
		Freddie Mac, 1.00%, 03/25/51				1,820,909		1,792,372
		Freddie Mac Multifamily Structured Pass-Through, 0.5685% (1 month LIBOR + 45), 06/25/23   (a)				53,787		53,875
		Freddie Mac Multifamily Structured Pass-Through, 3.527%, 10/25/23				365,000		390,765
		Freddie Mac Multifamily Structured Pass-Through, 0.5485% (1 month LIBOR + 43), 01/25/24   (a)				636,695		633,741
		Freddie Mac Multifamily Structured Pass-Through, 2.689%, 12/25/24				604,786		629,432
		Ginnie Mae, 6.3198%, 06/20/31				350,538		380,091
		Ginnie Mae, 3.00%, 12/20/37				30,958		31,287
		Ginnie Mae, 4.00%, 09/20/39				47,794		50,633
		Ginnie Mae, 3.00%, 10/20/39				240,102		244,030
		Ginnie Mae, 5.278%, 04/16/41				35,185		35,966
		Ginnie Mae, 1.00%, 12/20/42				96,412		93,363
		Ginnie Mae, 3.50%, 03/16/47				963,782		1,017,002
		Ginnie Mae, 2.40%, 10/16/50				686,747		715,227
		Ginnie Mae, 2.70%, 06/16/58				1,488,165		1,522,423
		Ginnie Mae, 0.7395% (1 month LIBOR + 62), 09/20/64   (a)				801,972		799,818
		Ginnie Mae, 3.00%, 03/20/69				628,020		657,285
		Ginnie Mae, 2.50%, 07/20/69				608,513		630,620
		Ginnie Mae, 2.25%, 08/20/69				697,476		721,351
			Total Collateralized Mortgage Obligations					14,967,350
	FANNIE MAE POOLS – (15.34%)
		2.887%, 04/01/23, Pool No. AL6578				145,497		149,898
		3.60%, 09/01/23, Pool No. AM4265				320,372		337,647
		3.09%, 03/01/24, Pool No. AN5010				1,000,000		1,065,034
		3.57%, 11/01/25, Pool No. BL0533				1,500,000		1,655,209
		4.00%, 05/01/29, Pool No. AL7358				606,024		646,027
		2.00%, 08/01/30, Pool No. AX9709				305,087		313,057
		3.50%, 03/01/32, Pool No. MA1010				437,112		469,087
		6.50%, 07/01/32, Pool No. 635069				8,750		9,458
		6.00%, 09/01/37, Pool No. 888796				25,571		29,123
			Total Fannie Mae Pools					4,674,540
	FREDDIE MAC POOLS – (6.87%)
		4.00%, 05/01/27, Pool No. G14593				880,428		938,423

4

DAVIS SERIES, INC.	Schedule of Investments
DAVIS GOVERNMENT BOND FUND - (CONTINUED)	March 31, 2021 (Unaudited)

								Principal			Value
MORTGAGES – (CONTINUED)
	FREDDIE MAC POOLS – (CONTINUED)
			3.00%, 09/01/27, Pool No. U70063						$	277,508	$	294,083
			2.50%, 09/01/31, Pool No. G18611							824,505		862,097
							Total Freddie Mac Pools					2,094,603
	GINNIE MAE POOLS – (8.44%)
			4.809%, 12/20/61, Pool No. 756740							3,917		4,245
			4.639%, 01/20/63, Pool No. AC0942							461,726		481,754
			4.70%, 01/20/63, Pool No. AC0934							895,053		959,328
			4.565%, 04/20/70, Pool No. BT6816							1,036,876		1,127,307
							Total Ginnie Mae Pools					2,572,634
					TOTAL MORTGAGES – (Identified cost $23,941,650)							24,309,127
OTHER AGENCIES – (3.28%)
			Federal Farm Credit Bank, 0.27%, 06/09/22							1,000,000		1,000,037
					TOTAL OTHER AGENCIES – (Identified cost $998,958)							1,000,037
SHORT-TERM INVESTMENTS – (16.97%)
			StoneX Financial Inc. Joint Repurchase Agreement, 0.02%, 04/01/21, dated 03/31/21, repurchase value of $2,354,001 (collateralized by: U.S. Government agency mortgages and obligations in a pooled cash account, 0.00%-7.50%, 04/15/21-02/20/51, total market value $2,401,080)							2,354,000		2,354,000
			Truist Securities, Inc. Joint Repurchase Agreement, 0.02%, 04/01/21, dated 03/31/21, repurchase value of $2,819,002 (collateralized by: U.S. Government agency mortgages in a pooled cash account, 1.50%-3.00%, 03/01/31-04/01/51, total market value $2,875,380)							2,819,000		2,819,000
					TOTAL SHORT-TERM INVESTMENTS – (Identified cost $5,173,000)							5,173,000
				Total Investments – (100.00%) – (Identified cost $30,113,608)								30,482,164
				Other Assets Less Liabilities – (0.00%)								347
						Net Assets – (100.00%)					$	30,482,511
	LIBOR: London Inter-Bank Offered Rate
	(a)	The interest rates on floating rate securities, shown as of March 31, 2021, may change daily or less frequently and are based on a published reference rate and basis point spread.
Please refer to "Notes to Schedule of Investments" on page 13 for the Fund's policy regarding valuation of investments.
For information regarding the Fund's other significant accounting policies, please refer to the Fund's most recent Semi-Annual or Annual Shareholder Report.

5

DAVIS SERIES, INC.	Schedule of Investments
DAVIS FINANCIAL FUND	March 31, 2021 (Unaudited)

							Shares/Principal			Value
COMMON STOCK – (95.76%)
	FINANCIALS – (95.76%)
		Banks – (43.84%)
				Bank of America Corp.					1,384,520	$	53,567,079
				Bank of N.T. Butterfield & Son Ltd.  (Bermuda)					744,172		28,442,254
				Danske Bank A/S  (Denmark)					1,147,240		21,468,078
				DBS Group Holdings Ltd.  (Singapore)					1,336,430		28,602,304
				DNB ASA  (Norway)					1,555,310		33,094,991
				JPMorgan Chase & Co.					449,754		68,466,051
				Metro Bank PLC  (United Kingdom)*					1,715,870		2,734,515
				PNC Financial Services Group, Inc.					276,826		48,558,049
				U.S. Bancorp					1,072,888		59,341,435
				Wells Fargo & Co.					1,373,669		53,669,248
											397,944,004
		Diversified Financials – (34.88%)
			Capital Markets – (12.35%)
				Bank of New York Mellon Corp.					1,004,651		47,509,946
				Charles Schwab Corp.					452,058		29,465,140
				Julius Baer Group Ltd.  (Switzerland)					549,754		35,155,406
											112,130,492
			Consumer Finance – (16.58%)
				American Express Co.					355,042		50,217,141
				Capital One Financial Corp.					788,041		100,262,456
											150,479,597
			Diversified Financial Services – (5.95%)
				Berkshire Hathaway Inc., Class A  *					140		53,998,280
											316,608,369
		Insurance – (17.04%)
			Property & Casualty Insurance – (12.89%)
				Chubb Ltd.					258,368		40,814,393
				Loews Corp.					622,996		31,947,235
				Markel Corp.  *					38,811		44,229,791
											116,991,419
			Reinsurance – (4.15%)
				Alleghany Corp.  *					37,940		23,761,443
				Everest Re Group, Ltd.					33,261		8,242,408
				Greenlight Capital Re, Ltd., Class A  *					656,200		5,708,940
											37,712,791
											154,704,210
						Total Financials					869,256,583
					TOTAL COMMON STOCK – (Identified cost $523,325,377)						869,256,583
SHORT-TERM INVESTMENTS – (3.94%)
				StoneX Financial Inc. Joint Repurchase Agreement, 0.02%, 04/01/21, dated 03/31/21, repurchase value of $16,293,009 (collateralized by: U.S. Government agency mortgages and obligations in a pooled cash account, 0.00%-7.50%, 04/15/21-02/20/51, total market value $16,618,860)				$	16,293,000		16,293,000

6

DAVIS SERIES, INC.	Schedule of Investments
DAVIS FINANCIAL FUND - (CONTINUED)	March 31, 2021 (Unaudited)

							Principal			Value
SHORT-TERM INVESTMENTS – (CONTINUED)
			Truist Securities, Inc. Joint Repurchase Agreement, 0.02%, 04/01/21, dated 03/31/21, repurchase value of $19,512,011 (collateralized by: U.S. Government agency mortgages in a pooled cash account, 1.50%-2.50%, 03/01/31-04/01/51, total market value $19,902,240)					$	19,512,000	$	19,512,000
					TOTAL SHORT-TERM INVESTMENTS – (Identified cost $35,805,000)						35,805,000
				Total Investments – (99.70%) – (Identified cost $559,130,377)							905,061,583
				Other Assets Less Liabilities – (0.30%)							2,728,348
						Net Assets – (100.00%)				$	907,789,931
	*	Non-income producing security.
Please refer to "Notes to Schedule of Investments" on page 13 for the Fund's policy regarding valuation of investments.
For information regarding the Fund's other significant accounting policies, please refer to the Fund's most recent Semi-Annual or Annual Shareholder Report.

7

DAVIS SERIES, INC.	Schedule of Investments
DAVIS APPRECIATION & INCOME FUND	March 31, 2021 (Unaudited)

						Shares		Value
COMMON STOCK – (78.76%)
	COMMUNICATION SERVICES – (7.08%)
		Media & Entertainment – (7.08%)
				Alphabet Inc., Class C  *			5,136	$	10,624,484
				Facebook, Inc., Class A  *			12,722		3,747,010
					Total Communication Services				14,371,494
	CONSUMER DISCRETIONARY – (4.30%)
		Retailing – (4.30%)
				Amazon.com, Inc.  *			2,826		8,743,870
					Total Consumer Discretionary				8,743,870
	FINANCIALS – (41.66%)
		Banks – (19.26%)
				Bank of America Corp.			101,200		3,915,428
				Danske Bank A/S  (Denmark)			127,180		2,379,894
				DBS Group Holdings Ltd.  (Singapore)			206,377		4,416,885
				DNB ASA  (Norway)			296,530		6,309,776
				JPMorgan Chase & Co.			33,233		5,059,060
				U.S. Bancorp			134,405		7,433,941
				Wells Fargo & Co.			245,548		9,593,560
									39,108,544
		Diversified Financials – (18.24%)
			Capital Markets – (2.76%)
				Bank of New York Mellon Corp.			118,600		5,608,594
			Consumer Finance – (9.32%)
				American Express Co.			34,405		4,866,243
				Capital One Financial Corp.			110,531		14,062,859
									18,929,102
			Diversified Financial Services – (6.16%)
				Berkshire Hathaway Inc., Class B  *			48,926		12,499,125
									37,036,821
		Insurance – (4.16%)
			Life & Health Insurance – (2.20%)
				AIA Group Ltd.  (Hong Kong)			368,960		4,475,493
			Property & Casualty Insurance – (1.96%)
				Chubb Ltd.			25,165		3,975,315
									8,450,808
					Total Financials				84,596,173
	HEALTH CARE – (3.48%)
		Health Care Equipment & Services – (2.75%)
				Quest Diagnostics Inc.			43,500		5,582,790
		Pharmaceuticals, Biotechnology & Life Sciences – (0.73%)
				Viatris Inc.  *			105,740		1,477,188
					Total Health Care				7,059,978
	INDUSTRIALS – (4.79%)
		Capital Goods – (4.79%)
				Carrier Global Corp.			41,499		1,752,088
				Johnson Controls International plc			56,077		3,346,115
				Raytheon Technologies Corp.			59,949		4,632,259
					Total Industrials				9,730,462

8

DAVIS SERIES, INC.	Schedule of Investments
DAVIS APPRECIATION & INCOME FUND - (CONTINUED)	March 31, 2021 (Unaudited)

							Shares/Principal			Value
COMMON STOCK – (CONTINUED)
	INFORMATION TECHNOLOGY – (17.45%)
		Semiconductors & Semiconductor Equipment – (14.84%)
				Applied Materials, Inc.					91,198	$	12,184,053
				Intel Corp.					144,340		9,237,760
				Texas Instruments Inc.					46,083		8,709,226
											30,131,039
		Software & Services – (2.61%)
				Microsoft Corp.					22,511		5,307,419
						Total Information Technology					35,438,458
					TOTAL COMMON STOCK – (Identified cost $112,045,803)						159,940,435
ASSET-BACKED – (1.17%)
				Brean Asset Backed Securities Trust, Series 2021-RM1, Class A, 144A, 1.40%, 10/25/63   (a)				$	2,500,000		2,383,496
					TOTAL ASSET-BACKED – (Identified cost $2,383,503)						2,383,496
CORPORATE BONDS – (10.53%)
	COMMUNICATION SERVICES – (2.16%)
		Telecommunication Services – (2.16%)
				AT&T Inc., Sr. Notes, 1.1913% (3 month LIBOR + 95), 07/15/21   (b)					1,000,000		1,002,635
				Verizon Communications Inc., Sr. Notes, 1.1895% (3 month LIBOR + 100), 03/16/22   (b)					3,350,000		3,377,790
						Total Communication Services					4,380,425
	FINANCIALS – (3.00%)
		Diversified Financials – (3.00%)
			Consumer Finance – (1.39%)
				Capital One N.A., Sr. Notes, 1.3615% (3 month LIBOR + 115), 01/30/23   (b)					2,800,000		2,820,113
			Mortgage Real Estate Investment Trusts (REITs) – (1.61%)
				Thornburg Mortgage, Inc., Sr. Notes, 8.00%, 05/15/13   (c)					10,210,000		3,267,200
						Total Financials					6,087,313
	HEALTH CARE – (2.45%)
		Health Care Equipment & Services – (1.51%)
				CVS Health Corp., Sr. Notes, 5.00%, 12/01/24					2,000,000		2,266,807
				CVS Health Corp., Sr. Notes, 3.875%, 07/20/25					725,000		801,554
											3,068,361
		Pharmaceuticals, Biotechnology & Life Sciences – (0.94%)
				Viatris Inc., Sr. Notes, 144A, 2.70%, 06/22/30   (a)					1,925,000		1,905,116
						Total Health Care					4,973,477
	INDUSTRIALS – (1.08%)
		Capital Goods – (1.08%)
				General Electric Co., Sr. Notes, 1.2413% (3 month LIBOR + 100), 04/15/23   (b)					2,165,000		2,183,595
						Total Industrials					2,183,595
	INFORMATION TECHNOLOGY – (1.84%)
		Software & Services – (1.84%)
				Oracle Corp., Sr. Notes, 1.90%, 09/15/21					3,725,000		3,747,031
						Total Information Technology					3,747,031
					TOTAL CORPORATE BONDS – (Identified cost $25,477,099)						21,371,841

9

DAVIS SERIES, INC.	Schedule of Investments
DAVIS APPRECIATION & INCOME FUND - (CONTINUED)	March 31, 2021 (Unaudited)

							Principal			Value
MORTGAGES – (5.38%)
			Fannie Mae, 4.00%, 03/25/30					$	2,657,988	$	2,669,931
			Fannie Mae, 4.50%, 10/01/33, Pool No. AL8809						1,424,482		1,579,499
			Freddie Mac, 2.00%, 10/25/40						859,213		878,687
			Freddie Mac, 5.00%, 06/01/44, Pool No. G60660						1,423,206		1,658,131
			Freddie Mac Multifamily Structured Pass-Through, 3.13%, 06/25/21						2,064,378		2,070,344
			Ginnie Mae, Series 2020-H16, 1.3609% (1 month LIBOR + 125), 09/20/70   (b)						1,994,110		2,059,263
					TOTAL MORTGAGES – (Identified cost $10,689,452)						10,915,855
U.S. GOVERNMENT – (1.48%)
			U.S. Treasury Note/Bond, 1.125%, 06/30/21						2,990,000		2,997,942
					TOTAL U.S. GOVERNMENT – (Identified cost $2,990,891)						2,997,942
SHORT-TERM INVESTMENTS – (2.40%)
			StoneX Financial Inc. Joint Repurchase Agreement, 0.02%, 04/01/21, dated 03/31/21, repurchase value of $2,221,001 (collateralized by: U.S. Government agency mortgages and obligations in a pooled cash account, 0.00%-7.50%, 04/15/21-02/20/51, total market value $2,265,420)						2,221,000		2,221,000
			Truist Securities, Inc. Joint Repurchase Agreement, 0.02%, 04/01/21, dated 03/31/21, repurchase value of $2,661,001 (collateralized by: U.S. Government agency mortgages in a pooled cash account, 1.50%-2.50%, 03/01/36-04/01/51, total market value $2,714,220)						2,661,000		2,661,000
					TOTAL SHORT-TERM INVESTMENTS – (Identified cost $4,882,000)						4,882,000
				Total Investments – (99.72%) – (Identified cost $158,468,748)							202,491,569
				Other Assets Less Liabilities – (0.28%)							572,071
						Net Assets – (100.00%)				$	203,063,640
	LIBOR: London Inter-Bank Offered Rate
	*	Non-income producing security.
	(a)	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 $4,288,612 or 2.11% of the Fund's net assets as of March 31, 2021.
	(b)	The interest rates on floating rate securities, shown as of March 31, 2021, may change daily or less frequently and are based on a published reference rate and basis point spread.
	(c)	This security is in default and is not accruing income. The interest rate shown is the original, contractual interest rate. The Fund may hold securities in default, and is not obligated to dispose of securities whose issuers or underlying obligors subsequently default. As of March 31, 2021, the value of defaulted securities amounted to $3,267,200 (cost: $7,650,174) or 1.61% of the Fund's net assets.
Please refer to "Notes to Schedule of Investments" on page 13 for the Fund's policy regarding valuation of investments.
For information regarding the Fund's other significant accounting policies, please refer to the Fund's most recent Semi-Annual or Annual Shareholder Report.

10

DAVIS SERIES, INC.	Schedule of Investments
DAVIS REAL ESTATE FUND	March 31, 2021 (Unaudited)

						Shares		Value
COMMON STOCK – (99.14%)
	CONSUMER DISCRETIONARY – (0.74%)
		Consumer Services – (0.74%)
				Six Flags Entertainment Corp.  *			32,820	$	1,525,146
					Total Consumer Discretionary				1,525,146
	REAL ESTATE – (98.40%)
			Equity Real Estate Investment Trusts (REITs) – (98.40%)
				Health Care REITs – (7.85%)
				Healthpeak Properties, Inc.			169,100		5,367,234
				Ventas, Inc.			75,190		4,010,635
				Welltower Inc.			94,410		6,762,588
									16,140,457
				Hotel & Resort REITs – (6.39%)
				Host Hotels & Resorts Inc.  *			442,531		7,456,647
				Ryman Hospitality Properties, Inc.  *			14,480		1,122,345
				Sunstone Hotel Investors, Inc.  *			365,470		4,553,756
									13,132,748
				Industrial REITs – (14.16%)
				Prologis, Inc.			136,740		14,494,440
				Rexford Industrial Realty, Inc.			150,698		7,595,179
				Terreno Realty Corp.			121,589		7,024,197
									29,113,816
				Office REITs – (16.54%)
				Alexandria Real Estate Equities, Inc.			29,573		4,858,844
				Boston Properties, Inc.			62,676		6,346,572
				Cousins Properties, Inc.			145,919		5,158,237
				Douglas Emmett, Inc.			128,390		4,031,446
				Highwoods Properties, Inc.			76,040		3,265,158
				Hudson Pacific Properties, Inc.			229,270		6,220,095
				SL Green Realty Corp.			28,745		2,011,862
				Vornado Realty Trust			46,437		2,107,775
									33,999,989
				Residential REITs – (18.77%)
				American Campus Communities, Inc.			121,781		5,257,286
				American Homes 4 Rent, Class A			113,270		3,776,422
				AvalonBay Communities, Inc.			43,168		7,964,928
				Camden Property Trust			31,255		3,435,237
				Equity Residential			93,935		6,728,564
				Essex Property Trust, Inc.			34,064		9,259,958
				UDR, Inc.			49,410		2,167,122
									38,589,517
				Retail REITs – (13.04%)
				Acadia Realty Trust			186,951		3,546,461
				Brixmor Property Group, Inc.			414,080		8,376,838
				Federal Realty Investment Trust			41,149		4,174,566
				Retail Opportunity Investments Corp.			191,814		3,044,088
				Simon Property Group, Inc.			67,516		7,681,295
									26,823,248
				Specialized REITs – (21.65%)
				CoreSite Realty Corp.			20,040		2,401,794
				Crown Castle International Corp.			21,275		3,662,066

11

DAVIS SERIES, INC.	Schedule of Investments
DAVIS REAL ESTATE FUND - (CONTINUED)	March 31, 2021 (Unaudited)

									Shares/Principal			Value
COMMON STOCK – (CONTINUED)
	REAL ESTATE – (CONTINUED)
			Equity Real Estate Investment Trusts (REITs) – (Continued)
				Specialized REITs – (Continued)
				CyrusOne Inc.							66,050	$	4,472,906
				Digital Realty Trust, Inc.							33,755		4,754,054
				Equinix, Inc.							14,880		10,112,299
				Extra Space Storage Inc.							29,037		3,848,854
				Life Storage, Inc.							48,120		4,135,914
				Public Storage							37,591		9,275,955
				VICI Properties Inc.							65,340		1,845,202
													44,509,044
								Total Real Estate					202,308,819
						TOTAL COMMON STOCK – (Identified cost $162,800,016)							203,833,965
SHORT-TERM INVESTMENTS – (0.64%)
				StoneX Financial Inc. Joint Repurchase Agreement, 0.02%, 04/01/21, dated 03/31/21, repurchase value of $601,000 (collateralized by: U.S. Government agency mortgages and obligations in a pooled cash account, 0.00%-7.50%, 04/15/21-02/20/51, total market value $613,020)						$	601,000		601,000
				Truist Securities, Inc. Joint Repurchase Agreement, 0.02%, 04/01/21, dated 03/31/21, repurchase value of $719,000 (collateralized by: U.S. Government agency mortgages in a pooled cash account, 1.50%-2.50%, 03/01/31-04/01/51, total market value $733,380)							719,000		719,000
						TOTAL SHORT-TERM INVESTMENTS – (Identified cost $1,320,000)							1,320,000
					Total Investments – (99.78%) – (Identified cost $164,120,016)								205,153,965
					Other Assets Less Liabilities – (0.22%)								450,498
							Net Assets – (100.00%)					$	205,604,463
	*	Non-income producing security.
Please refer to "Notes to Schedule of Investments" on page 13 for the Fund's policy regarding valuation of investments.
For information regarding the Fund's other significant accounting policies, please refer to the Fund's most recent Semi-Annual or Annual Shareholder Report.

12

DAVIS SERIES, INC.	Notes to Schedule of Investments
	March 31, 2021 (Unaudited)

Security Valuation - The Funds calculate the net asset value of their shares as of the close of the New York Stock Exchange ("Exchange"), normally 4:00 P.M. Eastern time, on each day the Exchange is open for business. Securities listed on the Exchange (and other national exchanges including NASDAQ) are valued at the last reported sales price on the day of valuation. Listed securities for which no sale was reported on that date are valued at the last quoted bid price. Securities traded on foreign exchanges are valued based upon the last sales price on the principal exchange on which the security is traded prior to the time when the Funds' assets are valued. Fixed income securities with more than 60 days to maturity are generally valued using evaluated prices or matrix pricing methods determined by an independent pricing service which takes into consideration factors such as yield, maturity, liquidity, ratings, and traded prices in identical or similar securities. Securities (including restricted securities) for which market quotations are not readily available or securities whose values have been materially affected by what Davis Selected Advisers, L.P. ("Adviser"), the Funds' investment adviser, identifies as a significant event occurring before the Funds' assets are valued, but after the close of their respective exchanges will be fair valued using a fair valuation methodology applicable to the security type or the significant event as previously approved by the Funds' Pricing Committee and Board of Directors. The Pricing Committee considers all facts it deems relevant that are reasonably available, through either public information or information available to the Adviser's portfolio management team, when determining the fair value of a security. To assess the appropriateness of security valuations, the Adviser may consider (i) comparing prior day prices and/or prices of comparable securities; (ii) comparing sale prices to the prior or current day prices and challenge those prices exceeding certain tolerance levels with the third-party pricing service or broker source; (iii) new rounds of financing; (iv) the performance of the market or the issuer's industry; (v) the liquidity of the security; (vi) the size of the holding in a fund; and/or (vii) any other appropriate information. The determination of a security's fair value price often involves the consideration of a number of subjective factors and is therefore subject to the unavoidable risk that the value assigned to a security may be higher or lower than the security's value would be if a reliable market quotation of the security was readily available. Fair value determinations are subject to review, approval, and ratification by the Funds' Board of Directors at its next regularly scheduled meeting covering the period in which the fair valuation was determined. Fair valuation methods used by the Funds may include, but are not limited to, valuing securities initially at cost (excluding commissions) and subsequently adjusting the value due to: additional transactions by the issuer, changes in company specific fundamentals, and changes in the value of similar securities. Values may be further adjusted for any discounts related to security-specific resale restrictions.

Short-term securities purchased within 60 days to maturity are valued at amortized cost, which approximates market value.

The Funds' valuation procedures are reviewed and subject to approval by the Board of Directors. There have been no significant changes to the fair valuation procedures during the period.

Fair Value Measurements - Fair value is defined as the price that the Funds would receive upon selling an investment in an orderly transaction to an independent buyer in the principal market for the investment. Various inputs are used to determine the fair value of the Funds' investments. These inputs are summarized in the three broad levels listed below.

Level 1 – quoted prices in active markets for identical securities

Level 2 – other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, credit risk, etc.)

Level 3 – significant unobservable inputs (including the Fund's own assumptions in determining the fair value of investments)

The inputs or methodologies used for valuing securities are not necessarily an indication of the risks associated with investing in those securities nor can it be assured that the Funds can obtain the fair value assigned to a security if they were to sell the security.

13

DAVIS SERIES, INC.	Notes to Schedule of Investments – (Continued)
	March 31, 2021 (Unaudited)

Security Valuation – (Continued)

Fair Value Measurements - (Continued)

The following is a summary of the inputs used as of March 31, 2021 in valuing each Fund's investments carried at value:

	Investments in Securities at Value
							Davis
	Davis		Davis		Davis		Appreciation		Davis
	Opportunity		Government		Financial		& Income		Real Estate
	Fund		Bond Fund		Fund		Fund		Fund
Valuation Inputs
Level 1 – Quoted Prices:
Common Stock:
Communication Services	$	35,733,269	$	–	$	–	$	14,371,494	$	–
Consumer Discretionary		22,319,264		–		–		8,743,870		1,525,146
Financials		127,885,905		–		869,256,583		84,596,173		–
Health Care		120,915,104		–		–		7,059,978		–
Industrials		125,627,088		–		–		9,730,462		–
Information Technology		56,088,434		–		–		35,438,458		–
Real Estate		–		–		–		–		202,308,819
Total Level 1		488,569,064		–		869,256,583		159,940,435		203,833,965
Level 2 – Other Significant
Observable Inputs:
Debt securities issued by U.S. Treasuries and U.S. Government corporations and agencies:
Long-term		–		1,000,037		–		–		–
Short-term		–		–		–		2,997,942		–
Asset-Backed		–		–		–		2,383,496		–
Corporate Bonds		–		–		–		21,371,841		–
Mortgages		–		24,309,127		–		10,915,855		–
Short-Term Investments		12,066,000		5,173,000		35,805,000		4,882,000		1,320,000
Total Level 2		12,066,000		30,482,164		35,805,000		42,551,134		1,320,000
Level 3 – Significant Unobservable
Inputs:
Common Stock:
Communication Services		118,858		–		–		–		–
Preferred Stock:
Consumer Discretionary		13,115,061		–		–		–		–
Industrials		43,321,577		–		–		–		–
Total Level 3		56,555,496		–		–		–		–
Total Investments	$	557,190,560	$	30,482,164	$	905,061,583	$	202,491,569	$	205,153,965

The following table reconciles the valuation of assets in which significant unobservable inputs (Level 3) were used in determining fair value during the three months ended March 31, 2021. The net change in unrealized appreciation (depreciation) during the period on Level 3 securities still held at March 31, 2021 for Davis Opportunity Fund was $1,783,669. There were no transfers of investments into or out of Level 3 of the fair value hierarchy during the period. The cost of purchases or proceeds from sales may include securities received or delivered through corporate actions or exchanges.

	Beginning Balance January 1, 2021		Cost of Purchases		Net Change in Unrealized Appreciation (Depreciation)		Net Realized Gain (Loss)		Proceeds from Sales		Ending Balance March 31, 2021
Davis Opportunity Fund
Investments in Securities:
Common Stock	$	118,858	$	–	$	–	$	–	$	–	$	118,858
Preferred Stock		54,652,969		–		1,783,669		–		–		56,436,638
Total Level 3	$	54,771,827	$	–	$	1,783,669	$	–	$	–	$	56,555,496

14

DAVIS SERIES, INC.	Notes to Schedule of Investments – (Continued)
	March 31, 2021 (Unaudited)

Security Valuation – (Continued)

Fair Value Measurements - (Continued)

The following table is a summary of those assets in which significant unobservable inputs (Level 3) were used by the Adviser in determining fair value. Note that these amounts exclude any valuations provided by a pricing service or broker.

	Fair Value at		Valuation	Unobservable	Amount or	Impact to Valuation from
	March 31, 2021		Technique	Input(s)	Range	an Increase in Input
Davis Opportunity Fund
Investments in Securities:
Common Stock	$	118,858	Discounted Cash Flow	Annualized Yield	1.237%	Decrease
Preferred Stock		19,141,186	Market Approach	Transaction Price	$40.83	Increase
Preferred Stock		24,180,391	Market Approach	Volume-Weighted Transaction Price	$4.93-$6.26	Increase
Preferred Stock		13,115,061	Market Approach	Transaction Price	$5.2733	Increase
Total Level 3	$	56,555,496

The significant unobservable inputs listed in the above table are used in the fair value measurement of equity securities, and if changed, would affect the fair value of the Funds' investments. The transaction price inputs are attributable to private securities and include assumptions made from private transactions. The "Impact to Valuation from an Increase in Input" represents the change in fair value measurement resulting from an increase in the corresponding input. A decrease in the input would have the opposite effect.

Federal Income Taxes

At March 31, 2021, the unrealized appreciation (depreciation) and aggregate cost of investments for federal income tax purposes were as follows:

							Davis
	Davis		Davis		Davis		Appreciation		Davis
	Opportunity		Government		Financial		& Income		Real Estate
	Fund		Bond Fund		Fund		Fund		Fund
Unrealized appreciation	$	222,192,094	$	445,193	$	357,027,070	$	51,358,170	$	45,707,557
Unrealized depreciation		(3,475,425)		(76,637)		(12,143,260)		(7,596,564)		(7,073,273)
Net unrealized appreciation	$	218,716,669	$	368,556	$	344,883,810	$	43,761,606	$	38,634,284
Aggregate cost	$	338,473,891	$	30,113,608	$	560,177,773	$	158,729,963	$	166,519,681

Coronavirus (COVID-19) Pandemic

The rapid and global spread of a highly contagious novel coronavirus respiratory disease, COVID-19, has resulted in extreme volatility in the financial markets and severe losses; reduced liquidity of many instruments; significant disruptions to business operations (including business closures); disruptions to supply chains, consumer demand and employee availability; and widespread uncertainty regarding the duration and long-term effects of this pandemic. Some sectors of the economy and individual issuers have experienced particularly large losses. In addition, the COVID-19 pandemic may result in a sustained economic downturn or a global recession. The ultimate economic fallout from the pandemic, and the long-term impact on economies, markets, industries and individual issuers, are not known. The COVID-19 pandemic could adversely affect the value and liquidity of a fund's investments, impair a fund's ability to satisfy redemption requests, and negatively impact fund performance. In addition, the outbreak of COVID-19, and measures taken to mitigate its effects, could result in disruptions to the services provided to a fund by its service providers.

15