Dec. 31, 2025
The Fund seeks as high a level of current income as is consistent with the principle
of preservation of capital and maintenance of liquidity.
This table describes the fees and expenses that you may pay if you buy, hold, and sell shares of the Fund.
| Shareholder Fees (fees paid directly from your investment) | Class A, C, and Y shares |
| Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price) | None |
| Maximum Deferred Sales Charge (Load) (as a percentage of the lesser of the net asset value of the shares redeemed or the total cost of such shares) | None |
| Redemption Fee (as a percentage of total redemption proceeds) | None |
| Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) | Class A, C, and Y shares |
| Management Fees | 0.30% |
| Distribution and/or Service (12b-1) Fees | 0.00% |
| Other Expenses | 0.30% |
| Total Annual Fund Operating Expenses | 0.60% |
| Less Fee Waiver and/or Expense Reimbursement* | 0.00% |
| Total Annual Fund Operating Expenses After Fee Waivers and/or Expense Reimbursement | 0.60% |
*
Davis Selected Advisers, L.P. has contractually agreed to waive fees and/or reimburse the Fund’s expenses such that net investment income will not be less than zero until May 1, 2027. After that date, there is no assurance that Davis Selected Advisers, L.P. will continue to waive fees and/or reimburse expenses. The Adviser may recapture from the assets of the Fund any of the operating expenses it has reimbursed (but not any of the management fees which it has waived) until the end of the third calendar year after the end of the calendar year in which such reimbursement occurs, subject to certain limitations. This recapture could negatively affect the Fund’s future yield. The agreement cannot be terminated prior to that date, without the consent of the Board of Directors.
This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions, your costs would be:
|
|
1 Year
|
3 Years
|
5 Years
|
10 Years
|
|
Class A, C, and Y shares
|
$61 |
$192 |
$335 |
$750 |
The Fund is a money market fund that seeks to preserve the value of your investment at $1.00 per share. There can be no guarantee that the Fund will be successful in maintaining a $1.00 share price.
The Fund invests exclusively in U.S. Treasury securities, U.S. Government agency securities, U.S. Government agency mortgage securities (collectively “U.S. Government Securities”) and repurchase agreements collateralized by U.S. Government Securities. As a government money market fund, the Fund normally invests at least 99.5% of its total assets in U.S. Government Securities, repurchase agreements collateralized by cash and/or U.S. Government Securities, and cash. The Fund seeks to maintain liquidity and preserve capital by carefully monitoring the maturity of its investments. The Fund’s portfolio maintains a dollar-weighted average maturity of sixty days or less.
The bar chart below provides some indication of the risks of investing in the Fund by showing how the Fund’s investment results have varied from year to year. The Fund’s past performance is not necessarily an indication of how the Fund will perform in the future. Updated information on the Fund’s results can be obtained by visiting www.davisfunds.com or by calling 1-800-279-0279.
| | Returns | Period Ending |
| Highest Quarter | 1.17% | December 31, 2023 |
| Lowest Quarter | 0.00% | December 31, 2021 |
| Year-to-Date | 0.78% | March 31, 2026 |
| Average Annual Total Returns (For the periods ended December 31, 2025, with maximum sales charge) | Past 1 Year | Past 5 Years | Past 10 Years |
| All Share Classes | 3.74% | 2.77% | 1.75% |
| Yield for Class A Shares (For the period ended December 31, 2025) | |
| 7-Day Yield: | 3.21% |
You can obtain the Fund’s most recent 7-day Yield by calling Investor Services toll-free at 1-800-279-0279, Monday through Friday, from 9 a.m. to 6 p.m. Eastern Time.