Viatris Inc

• DA Davis Advisors Global ADR Davis Global ADR SMA Portfolio Fall Update 2026 ↗ The Davis Global ADR SMA portfolio remained overweight China despite macro pressure and a food-delivery price war, arguing that depressed valuations and intact fundamentals create a contrarian opportunity. It sold Ping An Insurance, initiated Zoetis, and detailed holdings including Full Truck Alliance, Itochu, Julius Baer and Viatris as cash-generative businesses with durable advantages. first nine months of 2026 ITOCY $104BJBAXY $18BVTRS $24B +1
• DO Davis Opportunity Fund Davis Opportunity Fund Annual Review 2026 ↗ Davis Opportunity Fund argues that concentrated, expensive passive indexes warrant a selective active approach, with reduced exposure to richly valued megacap technology. The portfolio added managed-care insurers after cost-driven weakness, trimmed selected Magnificent 7 holdings, and emphasizes Capital One, Wesco International, Coterra and Teck Resources as undervalued or structurally advantaged holdings. 2025 AMAT $294BCOF $117BUNH $365B +1

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