----

----

----

| DAVIS SERIES, INC.     | Schedule of Investments    |
|------------------------|----------------------------|
| DAVIS OPPORTUNITY FUND | March 31, 2013 (Unaudited) |

|                                           | Shares/Units                                          |                                            | Value                        |
|------------------------------------------------|-------------------------------------------------------|-------------------------------------------------|------------------------------|
| COMMON STOCK – (95.12%)                  |
|   CONSUMER DISCRETIONARY – (11.73%) |
|                                           |                                                  | Consumer Durables & Apparel – (2.00%) |
|                                           |                                                  |                                            |                         |   | Compagnie Financiere Richemont S.A., Bearer Shares, Unit A  (Switzerland) |   |   | 65,900    |   | $ | 5,171,758    |
|                                           | Hunter Douglas N.V.  (Netherlands)          |                                            |                         | 72,060    |   |   | 2,868,094    |
|                                           |                                                  |                                            | 8,039,852     |
|                                           | Media – (4.29%)                                 |
|                                           | Walt Disney Co.                                       |                                            |                         | 302,890    |   |   | 17,204,152    |
|                                           | Retailing – (5.44%)                             |
|                                           | Groupon, Inc.  *                            |                                            |                         | 1,075,790    |   |   | 6,578,456    |
|                                           | Netflix Inc.  *                             |                                            |                         | 9,550    |   |   | 1,808,340    |
|                                           | Tiffany & Co.                                     |                                            |                         | 80,370    |   |   | 5,588,930    |
|                                           | Vipshop Holdings Ltd., ADS  (China)*        |                                            |                         | 259,530    |   |   | 7,881,926    |
|                                           |                                                  |                                            | 21,857,652    |
|                                           |                                                  |                                            |                         | Total Consumer Discretionary |   |   | 47,101,656    |
|                                           | CONSUMER STAPLES – (11.57%)                     |
|                                           | Food & Staples Retailing – (4.81%)          |
|                                           | Brazil Pharma S.A.  (Brazil)                |                                            |                         | 553,100    |   |   | 3,900,371    |
|                                           | CVS Caremark Corp.                                    |                                            |                         | 43,970    |   |   | 2,417,910    |
|                                           | Sysco Corp.                                           |                                            |                         | 206,810    |   |   | 7,273,508    |
|                                           | Wal-Mart Stores, Inc.                                 |                                            |                         | 76,700    |   |   | 5,739,461    |
|                                           |                                                  |                                            | 19,331,250    |
|                                           | Food, Beverage & Tobacco – (5.36%)          |
|                                           | Coca-Cola Co.                                         |                                            |                         | 281,220    |   |   | 11,372,537    |
|                                           | Diageo PLC  (United Kingdom)                |                                            |                         | 73,517    |   |   | 2,317,887    |
|                                           | Heineken Holding N.V.  (Netherlands)        |                                            |                         | 16,555    |   |   | 1,060,840    |
|                                           | Kellogg Co.                                           |                                            |                         | 68,670    |   |   | 4,424,408    |
|                                           | Philip Morris International Inc.                      |                                            |                         | 25,150    |   |   | 2,331,656    |
|                                           |                                                  |                                            | 21,507,328    |
|                                           | Household & Personal Products – (1.40%)     |
|                                           | Procter & Gamble Co.                              |                                            |                         | 73,040    |   |   | 5,628,462    |
|                                           | Total Consumer Staples                                |                                            |                         | 46,467,040    |
|                                           | ENERGY – (3.98%)                                |
|                                           | Exxon Mobil Corp.                                     |                                            |                         | 77,200    |   |   | 6,956,492    |
|                                           | Noble Energy, Inc.                                    |                                            |                         | 16,000    |   |   | 1,850,560    |
|                                           | Schlumberger Ltd.                                     |                                            |                         | 95,650    |   |   | 7,163,229    |
|                                           | Total Energy                                          |                                            |                         | 15,970,281    |
|                                           | FINANCIALS – (18.16%)                           |
|                                           | Banks – (4.29%)                                 |
|                                           | Commercial Banks – (4.29%)                      |
|                                           | U.S. Bancorp                                          |                                            |                         | 152,760    |   |   | 5,183,147    |
|                                           | Wells Fargo & Co.                                 |                                            |                         | 325,960    |   |   | 12,057,260    |
|                                           |                                                  |                                            | 17,240,407    |
|                                           | Diversified Financials – (4.68%)                |
|                                           | Capital Markets – (3.34%)                       |
|                                           | CETIP S.A. - Mercados Organizados  (Brazil) |                                            |                         | 199,800    |   |   | 2,372,980    |
|                                           | Charles Schwab Corp.                                  |                                            |                         | 293,020    |   |   | 5,183,524    |
|                                           | Oaktree Capital Group LLC, Class A                    |                                            |                         | 114,390    |   |   | 5,836,178    |
|                                           |                                                  | 13,392,682                       |

----

| DAVIS SERIES, INC.                   | Schedule of Investments    |
|--------------------------------------|----------------------------|
| DAVIS OPPORTUNITY FUND - (CONTINUED) | March 31, 2013 (Unaudited) |

|                             | Shares                                                             |                                       | Value                        |
|----------------------------------|--------------------------------------------------------------------|--------------------------------------------|------------------------------|
| COMMON STOCK – (CONTINUED) |
|                             | FINANCIALS – (CONTINUED)                                     |
|                             |                                                               | Diversified Financials – (Continued) |
|                             |                                                               |                                       |                         | Diversified Financial Services – (1.34%) |
|                             |                                                               |                                       |                         | JPMorgan Chase & Co. |   |   | 113,220    |   | $ | 5,373,421    |
|                             |                                                               |                                       | 18,766,103    |
|                             | Insurance – (9.19%)                                          |
|                             | Multi-line Insurance – (0.70%)                               |
|                             | Loews Corp.                                                        |                                       |                         | 64,140    |   |   | 2,826,650    |
|                             | Property & Casualty Insurance – (8.49%)                  |
|                             | Berkshire Hathaway Inc., Class B  *                      |                                       |                         | 211,411    |   |   | 22,029,026    |
|                             | Chubb Corp.                                                        |                                       |                         | 45,260    |   |   | 3,961,608    |
|                             | Markel Corp.  *                                          |                                       |                         | 16,035    |   |   | 8,073,623    |
|                             |                                                               | 34,064,257                  |
|                             |                                                               |                                       | 36,890,907    |
|                             |                                                               |                                       |                         | Total Financials |   |   | 72,897,417    |
|                             | HEALTH CARE – (10.58%)                                       |
|                             | Health Care Equipment & Services – (7.08%)               |
|                             | IDEXX Laboratories, Inc.  *                              |                                       |                         | 52,130    |   |   | 4,815,769    |
|                             | Laboratory Corp. of America Holdings  *                  |                                       |                         | 108,600    |   |   | 9,795,720    |
|                             | Medtronic, Inc.                                                    |                                       |                         | 130,010    |   |   | 6,105,270    |
|                             | UnitedHealth Group Inc.                                            |                                       |                         | 134,300    |   |   | 7,683,303    |
|                             |                                                               |                                       | 28,400,062    |
|                             | Pharmaceuticals, Biotechnology & Life Sciences – (3.50%) |
|                             | Agilent Technologies, Inc.                                         |                                       |                         | 28,234    |   |   | 1,184,981    |
|                             | Eli Lilly and Co.                                                  |                                       |                         | 102,000    |   |   | 5,792,580    |
|                             | Johnson & Johnson                                              |                                       |                         | 74,330    |   |   | 6,060,125    |
|                             | Techne Corp.                                                       |                                       |                         | 15,160    |   |   | 1,028,909    |
|                             |                                                               |                                       | 14,066,595    |
|                             | Total Health Care                                                  |                                       |                         | 42,466,657    |
|                             | INDUSTRIALS – (14.27%)                                       |
|                             | Capital Goods – (7.60%)                                      |
|                             | 3M Co.                                                             |                                       |                         | 30,530    |   |   | 3,245,644    |
|                             | Boeing Co.                                                         |                                       |                         | 26,700    |   |   | 2,292,195    |
|                             | Cummins Inc.                                                       |                                       |                         | 20,300    |   |   | 2,350,943    |
|                             | Deere & Co.                                                    |                                       |                         | 47,440    |   |   | 4,078,891    |
|                             | Emerson Electric Co.                                               |                                       |                         | 103,100    |   |   | 5,760,197    |
|                             | PACCAR Inc.                                                        |                                       |                         | 253,040    |   |   | 12,789,907    |
|                             |                                                               |                                       | 30,517,777    |
|                             | Commercial & Professional Services – (2.67%)             |
|                             | Nielsen Holdings N.V.                                              |                                       |                         | 298,540    |   |   | 10,693,703    |
|                             | Transportation – (4.00%)                                     |
|                             | Expeditors International of Washington, Inc.                       |                                       |                         | 121,150    |   |   | 4,325,661    |
|                             | FedEx Corp.                                                        |                                       |                         | 36,440    |   |   | 3,578,408    |
|                             | Kuehne & Nagel International AG  (Switzerland)       |                                       |                         | 74,766    |   |   | 8,151,565    |
|                             |                                                               |                                       | 16,055,634    |
|                             | Total Industrials                                                  |                                       |                         | 57,267,114    |
|                             | INFORMATION TECHNOLOGY – (21.25%)                            |
|                             | Semiconductors & Semiconductor Equipment – (3.55%)       |
|                             | Altera Corp.                                                       |                                       |                         | 38,800    |   |   | 1,376,042    |
|                             | Applied Materials, Inc.                                            |                                       |                         | 116,400    |   |   | 1,568,490    |
|                             | Intel Corp.                                                        |                                       |                         | 187,520    |   |   | 4,094,499    |

----

| DAVIS SERIES, INC.                   | Schedule of Investments    |
|--------------------------------------|----------------------------|
| DAVIS OPPORTUNITY FUND - (CONTINUED) | March 31, 2013 (Unaudited) |

|                                   | Shares/Units/Principal                                                                                                                                                                                                                                                  |                                                             | Value                        |
|----------------------------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|------------------------------------------------------------------|------------------------------|
| COMMON STOCK – (CONTINUED)       |
|                                   | INFORMATION TECHNOLOGY – (CONTINUED)                                                                                                                                                                                                                              |
|                                   |                                                                                                                                                                                                                                                                    | Semiconductors & Semiconductor Equipment – (Continued) |
|                                   |                                                                                                                                                                                                                                                                    |                                                             | Texas Instruments Inc.       |   |   | 202,950    |   | $ | 7,199,652    |
|                                   |                                                                                                                                                                                                                                                                    |                                                             | 14,238,683    |
|                                   | Software & Services – (16.74%)                                                                                                                                                                                                                                |
|                                   | Angie's List Inc.  *                                                                                                                                                                                                                                          |                                                             |                         | 472,445    |   |   | 9,337,876    |
|                                   | Automatic Data Processing, Inc.                                                                                                                                                                                                                                         |                                                             |                         | 47,950    |   |   | 3,117,469    |
|                                   | Google Inc., Class A  *                                                                                                                                                                                                                                       |                                                             |                         | 39,033    |   |   | 30,971,710    |
|                                   | International Business Machines Corp.                                                                                                                                                                                                                                   |                                                             |                         | 23,364    |   |   | 4,983,541    |
|                                   | Microsoft Corp.                                                                                                                                                                                                                                                         |                                                             |                         | 281,850    |   |   | 8,062,319    |
|                                   | Oracle Corp.                                                                                                                                                                                                                                                            |                                                             |                         | 141,250    |   |   | 4,565,906    |
|                                   | SAP AG, ADR  (Germany)                                                                                                                                                                                                                                        |                                                             |                         | 30,391    |   |   | 2,447,691    |
|                                   | Youku Tudou Inc., ADR  (China)*                                                                                                                                                                                                                               |                                                             |                         | 220,830    |   |   | 3,703,319    |
|                                   |                                                                                                                                                                                                                                                                    |                                                             | 67,189,831    |
|                                   | Technology Hardware & Equipment – (0.96%)                                                                                                                                                                                                                     |
|                                   | Hewlett-Packard Co.                                                                                                                                                                                                                                                     |                                                             |                         | 118,184    |   |   | 2,817,506    |
|                                   | Motorola Solutions, Inc.                                                                                                                                                                                                                                                |                                                             |                         | 16,490    |   |   | 1,055,855    |
|                                   |                                                                                                                                                                                                                                                                    |                                                             | 3,873,361     |
|                                   |                                                                                                                                                                                                                                                                    |                                                             |                         |   | Total Information Technology |   |   | 85,301,875    |
|                                   | MATERIALS – (3.05%)                                                                                                                                                                                                                                               |
|                                   | Air Products and Chemicals, Inc.                                                                                                                                                                                                                                        |                                                             |                         | 31,620    |   |   | 2,754,734    |
|                                   | Sigma-Aldrich Corp.                                                                                                                                                                                                                                                     |                                                             |                         | 122,380    |   |   | 9,505,867    |
|                                   | Total Materials                                                                                                                                                                                                                                                         |                                                             |                         | 12,260,601    |
|                                   | TELECOMMUNICATION SERVICES – (0.53%)                                                                                                                                                                                                                              |
|                                   | America Movil S.A.B. de C.V., Series L, ADR  (Mexico)                                                                                                                                                                                                         |                                                             |                         | 101,970    |   |   | 2,137,291    |
|                                   | Total Telecommunication Services                                                                                                                                                                                                                                        |                                                             |                         | 2,137,291    |
|                                   |  TOTAL COMMON STOCK – (Identified cost $300,087,792)                                                                                                                                                                                                    |                                                             |                         | 381,869,932    |
| STOCK WARRANTS – (0.66%)         |
|                                   | FINANCIALS – (0.66%)                                                                                                                                                                                                                                              |
|                                   | Banks – (0.66%)                                                                                                                                                                                                                                                   |
|                                   | Commercial Banks – (0.66%)                                                                                                                                                                                                                                        |
|                                   | Wells Fargo & Co., strike price $34.01, expires 10/28/18  *                                                                                                                                                                                               |                                                             |                         | 220,450    |   |   | 2,636,582    |
|                                   |  TOTAL STOCK WARRANTS – (Identified cost $1,764,508)                                                                                                                                                                                                    |                                                             |                         | 2,636,582    |
| SHORT-TERM INVESTMENTS – (4.23%) |
|                                   | Barclays Capital Inc. Joint Repurchase Agreement, 0.15%, 04/01/13, dated 03/28/13, repurchase value of $2,036,034 (collateralized by: U.S. Government agency obligation in a pooled cash account, 0.375%, 04/15/15, total market value $2,076,720)                      |                                                             | $                            | 2,036,000    |   |   | 2,036,000    |
|                                   | Mizuho Securities USA Inc. Joint Repurchase Agreement, 0.26%, 04/01/13, dated 03/28/13, repurchase value of $14,962,432 (collateralized by: U.S. Government agency mortgages in a pooled cash account, 3.00%-11.00%, 09/15/23-09/15/40, total market value $15,261,240) |                                                             |                         | 14,962,000    |   |   | 14,962,000    |
|                                   |  TOTAL SHORT-TERM INVESTMENTS – (Identified cost $16,998,000)                                                                                                                                                                                           |                                                             |                         |  16,998,000      |

----

| DAVIS SERIES, INC.                   | Schedule of Investments    |
|--------------------------------------|----------------------------|
| DAVIS OPPORTUNITY FUND - (CONTINUED) | March 31, 2013 (Unaudited) |

|   | Total Investments – (100.01%) – (Identified cost $318,850,300) – (a) |   | $      | 401,504,514    |
|--------|----------------------------------------------------------------------------------------|--------|--------|-------------------------------|
|   | Liabilities Less Other Assets – (0.01%)                                          |   |   | (31,540)       |
|   | Net Assets – (100.00%)                                                           |   | $      | 401,472,974    |

| ADR: American Depositary Receipt |
|----------------------------------|
| ADS: American Depositary Share |
|--------------------------------|
| *      | Non-Income producing security.                                                                                                                                                        |
|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |                                                                                                                                                                                  |
| (a)    | Aggregate cost for federal income tax purposes is $329,695,892. At March 31, 2013 unrealized appreciation (depreciation) of securities for federal income tax purposes is as follows: |

|   | Unrealized appreciation     |   | $      | 85,805,953      |
|--------|-----------------------------|--------|--------|--------------------------------|
|   | Unrealized depreciation     |   |   | (13,997,331)    |
|   | Net unrealized appreciation |   | $      | 71,808,622      |

| Please refer to "Notes to Schedule of Investments" on page 20 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. |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| DAVIS SERIES, INC.         | Schedule of Investments    |
|----------------------------|----------------------------|
| DAVIS GOVERNMENT BOND FUND | March 31, 2013 (Unaudited) |

|                       | Principal                                                           |   | Value  |
|----------------------------|---------------------------------------------------------------------|--------|--------|
| MORTGAGES – (94.01%) |
|                       | COLLATERALIZED MORTGAGE OBLIGATIONS – (71.60%)                |
|                       | Fannie Mae, 4.50%, 01/25/14                                         |   | $      | 24,920    |   | $ | 25,245    |
|                       | Fannie Mae, 5.00%, 03/25/18                                         |   |   | 854,949    |   |   | 861,128    |
|                       | Fannie Mae, 4.00%, 01/25/19                                         |   |   | 420,088    |   |   | 432,752    |
|                       | Fannie Mae, 4.00%, 02/25/19                                         |   |   | 1,099,261    |   |   | 1,150,682    |
|                       | Fannie Mae, 4.00%, 07/25/23                                         |   |   | 1,053,717    |   |   | 1,082,819    |
|                       | Fannie Mae, 4.00%, 11/25/23                                         |   |   | 776,947    |   |   | 798,213    |
|                       | Fannie Mae, 2.00%, 01/25/28                                         |   |   | 4,925,742    |   |   | 4,904,640    |
|                       | Fannie Mae, 3.50%, 12/25/31                                         |   |   | 4,669,538    |   |   | 4,993,729    |
|                       | Fannie Mae, 3.50%, 09/25/36                                         |   |   | 674,154    |   |   | 690,559    |
|                       | Fannie Mae, 0.4042%, 02/25/37    (a)            |   |   | 83,180    |   |   | 82,360    |
|                       | Fannie Mae, 0.4542%, 03/25/37    (a)            |   |   | 903,575    |   |   | 902,416    |
|                       | Fannie Mae, 0.5542%, 07/25/37    (a)            |   |   | 740,719    |   |   | 739,202    |
|                       | Fannie Mae, 0.7042%, 06/25/38    (a)            |   |   | 406,290    |   |   | 408,566    |
|                       | Fannie Mae, 4.50%, 12/25/41                                         |   |   | 667,123    |   |   | 736,227    |
|                       | Fannie Mae Whole Loan, 5.31%, 08/25/33                              |   |   | 257,209    |   |   | 263,012    |
|                       | Fannie Mae Whole Loan, 5.09%, 11/25/43                              |   |   | 2,555,602    |   |   | 2,704,857    |
|                       | Fannie Mae Whole Loan, 6.2635%, 08/25/47    (a) |   |   | 567,834    |   |   | 665,281    |
|                       | Freddie Mac, 3.50%, 01/15/18                                        |   |   | 141,632    |   |   | 145,589    |
|                       | Freddie Mac, 4.50%, 05/15/18                                        |   |   | 2,379,378    |   |   | 2,521,012    |
|                       | Freddie Mac, 4.50%, 07/15/18                                        |   |   | 697,236    |   |   | 739,820    |
|                       | Freddie Mac, 4.00%, 10/15/18                                        |   |   | 2,347,886    |   |   | 2,480,138    |
|                       | Freddie Mac, 4.50%, 02/15/19                                        |   |   | 4,251,705    |   |   | 4,525,474    |
|                       | Freddie Mac, 5.00%, 05/15/19                                        |   |   | 17,698    |   |   | 17,763    |
|                       | Freddie Mac, 4.50%, 09/15/23                                        |   |   | 890,422    |   |   | 935,202    |
|                       | Freddie Mac, 3.50%, 02/15/24                                        |   |   | 1,550,435    |   |   | 1,586,309    |
|                       | Freddie Mac, 3.50%, 07/15/24                                        |   |   | 979,552    |   |   | 1,004,957    |
|                       | Freddie Mac, 5.00%, 01/15/25                                        |   |   | 2,000,000    |   |   | 2,190,963    |
|                       | Freddie Mac, 3.50%, 04/15/25                                        |   |   | 1,528,226    |   |   | 1,581,439    |
|                       | Freddie Mac, 3.00%, 12/15/25                                        |   |   | 1,775,586    |   |   | 1,833,072    |
|                       | Freddie Mac, 4.00%, 01/15/26                                        |   |   | 2,178,566    |   |   | 2,329,462    |
|                       | Freddie Mac, 3.00%, 03/15/26                                        |   |   | 3,829,867    |   |   | 4,029,940    |
|                       | Freddie Mac, 3.00%, 10/15/26                                        |   |   | 3,312,059    |   |   | 3,483,671    |
|                       | Freddie Mac, 4.00%, 01/15/28                                        |   |   | 1,707,526    |   |   | 1,774,929    |
|                       | Freddie Mac, 4.50%, 04/15/32                                        |   |   | 1,292,324    |   |   | 1,325,551    |
|                       | Freddie Mac, 5.00%, 01/15/34                                        |   |   | 241,971    |   |   | 242,832    |
|                       | Freddie Mac, 4.50%, 08/15/36                                        |   |   | 1,297,214    |   |   | 1,381,434    |
|                       | Freddie Mac, 4.00%, 03/15/37                                        |   |   | 2,796,973    |   |   | 2,919,574    |
|                       | Freddie Mac, 0.6032%, 11/15/37    (a)           |   |   | 3,093,721    |   |   | 3,109,626    |
|                       | Freddie Mac, 4.00%, 01/15/38                                        |   |   | 3,567,573    |   |   | 3,724,312    |
|                       | Freddie Mac, 3.00%, 06/15/39                                        |   |   | 633,251    |   |   | 673,282    |
|                       | Freddie Mac, 2.50%, 09/15/40                                        |   |   | 952,010    |   |   | 979,382    |
|                       | Freddie Mac, 4.00%, 12/15/40                                        |   |   | 4,516,996    |   |   | 4,807,334    |
|                       | Freddie Mac Structured Pass-Through, 6.50%, 02/25/43                |   |   | 692,598    |   |   | 838,700    |
|                       | Ginnie Mae, 2.00%, 11/16/27                                         |   |   | 4,909,216    |   |   | 5,098,927    |
|                       | Ginnie Mae, 4.00%, 11/20/30                                         |   |   | 566,861    |   |   | 575,432    |

----

| DAVIS SERIES, INC.                       | Schedule of Investments    |
|------------------------------------------|----------------------------|
| DAVIS GOVERNMENT BOND FUND - (CONTINUED) | March 31, 2013 (Unaudited) |

|                          | Principal                                                          |                        | Value                                     |
|-------------------------------|--------------------------------------------------------------------|-----------------------------|-------------------------------------------|
| MORTGAGES – (CONTINUED) |
|                          | COLLATERALIZED MORTGAGE OBLIGATIONS – (CONTINUED)            |
|                          |                                                               | Ginnie Mae, 4.00%, 05/20/33 |                                      | $ | 3,224,582    |   | $ | 3,374,047    |
|                          | Ginnie Mae, 3.00%, 09/16/34                                        |                        |                                      | 1,500,000    |   |   | 1,566,855    |
|                          | Ginnie Mae, 3.536%, 09/16/35                                       |                        |                                      | 2,274,432    |   |   | 2,351,478    |
|                          | Ginnie Mae, 3.421%, 11/16/35                                       |                        |                                      | 2,320,019    |   |   | 2,389,910    |
|                          | Ginnie Mae, 3.50%, 07/20/36                                        |                        |                                      | 1,283,363    |   |   | 1,357,114    |
|                          | Ginnie Mae, 5.2172%, 12/16/36    (a)           |                        |                                      | 454,311    |   |   | 483,675    |
|                          | Ginnie Mae, 6.129%, 04/20/37    (a)            |                        |                                      | 2,565,438    |   |   | 2,903,752    |
|                          | Ginnie Mae, 3.00%, 06/20/38                                        |                        |                                      | 1,601,227    |   |   | 1,668,373    |
|                          | Ginnie Mae, 2.7166%, 02/16/44                                      |                        |                                      | 3,132,708    |   |   | 3,264,135    |
|                          |                                                               |                        | Total Collateralized Mortgage Obligations |   |   | 97,657,153    |
|                          | FANNIE MAE POOLS – (17.67%)                                  |
|                          | 4.57%, 01/01/15, Pool No. 725788                                   |                        |                                      | 997,119    |   |   | 1,031,478    |
|                          | 6.00%, 09/01/17, Pool No. 665776                                   |                        |                                      | 800,379    |   |   | 847,894    |
|                          | 4.50%, 03/01/18, Pool No. AJ0354                                   |                        |                                      | 1,185,619    |   |   | 1,245,715    |
|                          | 5.00%, 03/01/18, Pool No. 357369                                   |                        |                                      | 303,751    |   |   | 328,625    |
|                          | 4.50%, 08/01/18, Pool No. 254833                                   |                        |                                      | 670,603    |   |   | 716,220    |
|                          | 3.50%, 01/01/21, Pool No. MA0629                                   |                        |                                      | 1,673,823    |   |   | 1,804,280    |
|                          | 2.50%, 11/01/22, Pool No. AQ4765                                   |                        |                                      | 4,768,368    |   |   | 5,013,558    |
|                          | 2.50%, 10/01/27, Pool No. AP9869                                   |                        |                                      | 3,417,405    |   |   | 3,567,499    |
|                          | 6.50%, 07/01/32, Pool No. 635069                                   |                        |                                      | 99,449    |   |   | 109,890    |
|                          | 1.894%, 10/01/32, Pool No. 648917 (b)                              |                        |                                      | 735,928    |   |   | 753,805    |
|                          | 2.201%, 05/01/35, Pool No. 826242 (b)                              |                        |                                      | 406,847    |   |   | 420,174    |
|                          | 2.404%, 01/01/36, Pool No. 848973 (b)                              |                        |                                      | 240,653    |   |   | 262,127    |
|                          | 5.617%, 04/01/36, Pool No. 851605 (b)                              |                        |                                      | 287,400    |   |   | 306,508    |
|                          | 5.778%, 08/01/37, Pool No. AL2409 (b)                              |                        |                                      | 2,392,696    |   |   | 2,648,060    |
|                          | 6.00%, 09/01/37, Pool No. 888796                                   |                        |                                      | 457,875    |   |   | 501,957    |
|                          | 6.50%, 09/01/37, Pool No. AA0924                                   |                        |                                      | 1,318,623    |   |   | 1,512,306    |
|                          | 6.17%, 10/01/37, Pool No. AL1846 (b)                               |                        |                                      | 2,762,473    |   |   | 3,027,066    |
|                          | Total Fannie Mae Pools                                             |                        |                                      | 24,097,162    |
|                          | FREDDIE MAC POOLS – (2.73%)                                  |
|                          | 5.50%, 12/01/18, Pool No. G11684                                   |                        |                                      | 457,598    |   |   | 489,843    |
|                          | 5.50%, 11/01/21, Pool No. G12454                                   |                        |                                      | 650,637    |   |   | 710,008    |
|                          | 5.50%, 06/01/22, Pool No. G12688                                   |                        |                                      | 290,914    |   |   | 310,595    |
|                          | 4.00%, 05/01/24, Pool No. J09596                                   |                        |                                      | 1,185,298    |   |   | 1,262,609    |
|                          | 2.496%, 12/01/34, Pool No. 1H1238 (b)                              |                        |                                      | 294,177    |   |   | 314,772    |
|                          | 2.879%, 04/01/36, Pool No. 848422 (b)                              |                        |                                      | 597,413    |   |   | 635,335    |
|                          | Total Freddie Mac Pools                                            |                        |                                      | 3,723,162    |
|                          | GINNIE MAE POOLS – (2.01%)                                   |
|                          | 5.00%, 10/20/40, Pool No. 783539                                   |                        |                                      | 2,545,904    |   |   | 2,738,109    |
|                          | Total Ginnie Mae Pools                                             |                        |                                      | 2,738,109    |
|                          |  TOTAL MORTGAGES – (Identified cost $126,917,989)  |                        |                                      |  128,215,586      |

----

| DAVIS SERIES, INC.                       | Schedule of Investments    |
|------------------------------------------|----------------------------|
| DAVIS GOVERNMENT BOND FUND - (CONTINUED) | March 31, 2013 (Unaudited) |

|                                   | Principal                                                                                                                                                                                                                                                             |   | Value                                                               |
|----------------------------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|---------------------------------------------------------------------|
| OTHER AGENCIES – (0.19%)         |
|                                   | Housing Urban Development, 6.00%, 08/01/20                                                                                                                                                                                                                            |   | $                                                                   | 260,000    |   | $ | 261,248    |
|                                   |                                                                                                                                                                                                                                                                  |   |  TOTAL OTHER AGENCIES – (Identified cost $260,000)  |   |   |  261,248       |
| SHORT-TERM INVESTMENTS – (6.43%) |
|                                   | Barclays Capital Inc. Joint Repurchase Agreement, 0.15%, 04/01/13, dated 03/28/13, repurchase value of $1,050,018 (collateralized by: U.S. Government agency obligation in a pooled cash account, 0.375%, 04/15/15, total market value $1,071,000)                    |   |                                                                | 1,050,000    |   |   | 1,050,000    |
|                                   | Mizuho Securities USA Inc. Joint Repurchase Agreement, 0.26%, 04/01/13, dated 03/28/13, repurchase value of $7,718,223 (collateralized by: U.S. Government agency mortgages in a pooled cash account, 3.00%-11.00%, 09/15/23-09/15/40, total market value $7,872,360) |   |                                                                | 7,718,000    |   |   | 7,718,000    |
|                                   |  TOTAL SHORT-TERM INVESTMENTS – (Identified cost $8,768,000)                                                                                                                                                                                          |   |                                                                | 8,768,000    |
|                                   | Total Investments – (100.63%) – (Identified cost $135,945,989) – (c)                                                                                                                                                                                |   |                                                                | 137,244,834    |
|                                   | Liabilities Less Other Assets – (0.63%)                                                                                                                                                                                                                         |   |                                                                | (859,876)    |
|                                   |                                                                                                                                                                                                                                                                  |   | Net Assets – (100.00%)                                        |   | $ | 136,384,958    |

| (a)    | The interest rates on floating rate securities, shown as of March 31, 2013, may change daily or less frequently and are based on indices of market interest 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. |
|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |                                                                                                                                                                                                                                                                                                                                                                 |
| (b)    | The interest rates on adjustable rate securities, shown as of March 31, 2013, may change daily or less frequently and are based on indices of market interest rates.                                                                                                                                                                                                 |
|   |                                                                                                                                                                                                                                                                                                                                                                 |
| (c)    | Aggregate cost for federal income tax purposes is $135,945,989. At March 31, 2013 unrealized appreciation (depreciation) of securities for federal income tax purposes is as follows:                                                                                                                                                                                |

|   | Unrealized appreciation     |   | $      | 1,610,599    |
|--------|-----------------------------|--------|--------|-----------------------------|
|   | Unrealized depreciation     |   |   | (311,754)    |
|   | Net unrealized appreciation |   | $      | 1,298,845    |

| Please refer to “Notes to Schedule of Investments” on page 20 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. |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| DAVIS SERIES, INC.                 | Schedule of Investments    |
|------------------------------------|----------------------------|
| DAVIS GOVERNMENT MONEY MARKET FUND | March 31, 2013 (Unaudited) |

|                                      | Principal                                                                                   |                                                              | Value  |
|-------------------------------------------|---------------------------------------------------------------------------------------------|-------------------------------------------------------------------|--------|
| FANNIE MAE – (1.09%)                |
|                                      | 4.375%, 07/17/13                                                                            |                                                              | $      | 1,160,000    |   | $ | 1,174,476    |
|                                      | 0.39%, 10/25/13  (a)                                                              |                                                              |   | 1,500,000    |   |   | 1,501,857    |
|                                      |                                                                                        |  TOTAL FANNIE MAE – (Identified cost $2,676,333)  |   |   | 2,676,333    |
| FEDERAL FARM CREDIT BANK – (11.20%) |
|                                      | 0.25%, 07/23/13                                                                             |                                                              |   | 4,000,000    |   |   | 3,999,960    |
|                                      | 0.1537%, 07/29/13  (a)                                                            |                                                              |   | 1,600,000    |   |   | 1,599,948    |
|                                      | 0.226%, 07/29/13  (a)                                                             |                                                              |   | 6,000,000    |   |   | 6,001,474    |
|                                      | 0.1737%, 08/01/13  (a)                                                            |                                                              |   | 4,210,000    |   |   | 4,210,293    |
|                                      | 3.875%, 10/07/13                                                                            |                                                              |   | 4,600,000    |   |   | 4,689,006    |
|                                      | 0.1552%, 12/06/13  (a)                                                            |                                                              |   | 4,500,000    |   |   | 4,500,000    |
|                                      | 0.2032%, 12/16/13  (a)                                                            |                                                              |   | 1,250,000    |   |   | 1,250,278    |
|                                      | 0.0969%, 02/10/14  (a)                                                            |                                                              |   | 1,200,000    |   |   | 1,199,687    |
|                                      |  TOTAL FEDERAL FARM CREDIT BANK – (Identified cost  $27,450,646)  |                                                              |   | 27,450,646       |
| FEDERAL HOME LOAN BANK – (30.78%)   |
|                                      | 0.145%, 04/12/13  (a)                                                             |                                                              |   | 4,500,000    |   |   | 4,499,996    |
|                                      | 0.18%, 04/26/13  (a)                                                              |                                                              |   | 6,000,000    |   |   | 5,999,996    |
|                                      | 0.22%, 05/03/13                                                                             |                                                              |   | 5,000,000    |   |   | 5,000,370    |
|                                      | 0.18%, 05/15/13  (a)                                                              |                                                              |   | 4,500,000    |   |   | 4,499,945    |
|                                      | 0.18%, 06/18/13  (a)                                                              |                                                              |   | 4,700,000    |   |   | 4,700,000    |
|                                      | 0.125%, 06/28/13                                                                            |                                                              |   | 5,000,000    |   |   | 4,998,882    |
|                                      | 0.16%, 07/12/13  (a)                                                              |                                                              |   | 3,500,000    |   |   | 3,499,900    |
|                                      | 0.236%, 07/22/13  (a)                                                             |                                                              |   | 4,500,000    |   |   | 4,500,553    |
|                                      | 0.28%, 08/01/13  (a)                                                              |                                                              |   | 3,300,000    |   |   | 3,301,292    |
|                                      | 0.17%, 08/22/13  (a)                                                              |                                                              |   | 4,500,000    |   |   | 4,499,824    |
|                                      | 0.125%, 08/23/13                                                                            |                                                              |   | 4,500,000    |   |   | 4,498,759    |
|                                      | 0.12%, 08/28/13                                                                             |                                                              |   | 4,500,000    |   |   | 4,499,311    |
|                                      | 0.17%, 09/04/13  (a)                                                              |                                                              |   | 3,200,000    |   |   | 3,200,000    |
|                                      | 0.17%, 09/06/13  (a)                                                              |                                                              |   | 5,500,000    |   |   | 5,500,000    |
|                                      | 0.111%, 09/10/13  (a)                                                             |                                                              |   | 4,500,000    |   |   | 4,500,086    |
|                                      | 0.21%, 11/15/13  (a)                                                              |                                                              |   | 1,330,000    |   |   | 1,330,251    |
|                                      | 1.00%, 12/27/13                                                                             |                                                              |   | 2,700,000    |   |   | 2,716,133    |
|                                      | 0.116%, 01/03/14  (a)                                                             |                                                              |   | 3,700,000    |   |   | 3,697,819    |
|                                      |  TOTAL FEDERAL HOME LOAN BANK – (Identified cost $75,443,117)               |                                                              |   | 75,443,117    |
| FREDDIE MAC – (10.64%)              |
|                                      | 1.72%, 04/11/13                                                                             |                                                              |   | 4,500,000    |   |   | 4,501,943    |
|                                      | 3.50%, 05/29/13                                                                             |                                                              |   | 5,500,000    |   |   | 5,529,751    |
|                                      | 4.00%, 06/12/13                                                                             |                                                              |   | 2,200,000    |   |   | 2,216,462    |
|                                      | 0.15%, 09/24/13  (b)                                                              |                                                              |   | 4,500,000    |   |   | 4,496,700    |
|                                      | 0.875%, 10/28/13                                                                            |                                                              |   | 6,800,000    |   |   | 6,827,944    |
|                                      | 0.1737%, 11/04/13  (a)                                                            |                                                              |   | 2,500,000    |   |   | 2,499,931    |
|                                      |  TOTAL FREDDIE MAC – (Identified cost $26,072,731)                          |                                                              |   | 26,072,731    |

----

| DAVIS SERIES, INC.                               | Schedule of Investments    |
|--------------------------------------------------|----------------------------|
| DAVIS GOVERNMENT MONEY MARKET FUND - (CONTINUED) | March 31, 2013 (Unaudited) |

|                                   | Principal                                                                                                                                                                                                                                                               |   | Value                                                                          |
|----------------------------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------------------------------------------------------------------------------|
| PRIVATE EXPORT FUNDING – (8.28%) |
|                                   | Private Export Funding Corp., 3.55%, 04/15/13                                                                                                                                                                                                                           |   | $                                                                              | 14,260,000    |   | $ | 14,278,149    |
|                                   | Private Export Funding Corp., 4.974%, 08/15/13                                                                                                                                                                                                                          |   |                                                                           | 5,922,000    |   |   | 6,029,160    |
|                                   |                                                                                                                                                                                                                                                                    |   |  TOTAL PRIVATE EXPORT FUNDING – (Identified cost $20,307,309)  |   |   | 20,307,309    |
| REPURCHASE AGREEMENTS – (37.85%) |
|                                   | Barclays Capital Inc. Joint Repurchase Agreement, 0.15%, 04/01/13, dated 03/28/13, repurchase value of $11,114,185 (collateralized by: U.S. Government agency obligation in a pooled cash account, 0.375%, 04/15/15, total market value $11,336,280)                    |   |                                                                           | 11,114,000    |   |   | 11,114,000    |
|                                   | Mizuho Securities USA Inc. Joint Repurchase Agreement, 0.26%, 04/01/13, dated 03/28/13, repurchase value of $81,684,360 (collateralized by: U.S. Government agency mortgages in a pooled cash account, 3.00%-11.00%, 09/15/23-09/15/40, total market value $83,315,640) |   |                                                                           | 81,682,000    |   |   | 81,682,000    |
|                                   |  TOTAL REPURCHASE AGREEMENTS – (Identified cost $92,796,000)                                                                                                                                                                                            |   |                                                                           |     92,796,000    |
|                                   | Total Investments – (99.84%) – (Identified cost $244,746,136) – (c)                                                                                                                                                                                   |   |                                                                           | 244,746,136    |
|                                   | Other Assets Less Liabilities – (0.16%)                                                                                                                                                                                                                           |   |                                                                           | 384,894    |
|                                   |                                                                                                                                                                                                                                                                    |   | Net Assets – (100.00%)                                                   |   | $ | 245,131,030    |

| (a)    | The interest rates on floating rate securities, shown as of March 31, 2013, may change daily or less frequently and are based on indices of market interest 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. |
|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |                                                                                                                                                                                                                                                                                                                                                                 |
| (b)    | Zero coupon bonds reflect the effective yield on the date of purchase.                                                                                                                                                                                                                                                                                               |
|   |                                                                                                                                                                                                                                                                                                                                                                 |
| (c)    | Aggregate cost for federal income tax purposes is $244,746,136.                                                                                                                                                                                                                                                                                                      |

| Please refer to "Notes to Schedule of Investments" on page 20 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. |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| DAVIS SERIES, INC.   | Schedule of Investments    |
|----------------------|----------------------------|
| DAVIS FINANCIAL FUND | March 31, 2013 (Unaudited) |

|                          | Shares/Units                                                  |                          | Value                         |
|-------------------------------|---------------------------------------------------------------|-------------------------------|-------------------------------|
| COMMON STOCK – (97.65%) |
|                          | CONSUMER DISCRETIONARY – (1.44%)                        |
|                          |                                                          | Retailing – (1.44%)     |
|                          |                                                          |                          |                          | Bed Bath & Beyond Inc.  * |   |   | 130,000    |   | $ | 8,375,250    |
|                          |                                                          |                          |                          | Total Consumer Discretionary |   |   | 8,375,250    |
|                          | CONSUMER STAPLES – (2.99%)                              |
|                          | Food & Staples Retailing – (2.99%)                  |
|                          | CVS Caremark Corp.                                            |                          |                          | 315,500    |   |   | 17,349,345    |
|                          | Total Consumer Staples                                        |                          |                          | 17,349,345    |
|                          | ENERGY – (3.11%)                                        |
|                          | Canadian Natural Resources Ltd.  (Canada)           |                          |                          | 562,990    |   |   | 18,088,869    |
|                          | Total Energy                                                  |                          |                          | 18,088,869    |
|                          | FINANCIALS – (87.76%)                                   |
|                          | Banks – (15.87%)                                        |
|                          | Commercial Banks – (15.87%)                             |
|                          | ICICI Bank Ltd., ADR  (India)                       |                          |                          | 121,697    |   |   | 5,220,801    |
|                          | SKBHC Holdings LLC  *(a)                            |                          |                          | 1,604    |   |   | 6,968,033    |
|                          | State Bank of India Ltd., GDR  (India)              |                          |                          | 332,813    |   |   | 27,739,964    |
|                          | U.S. Bancorp                                                  |                          |                          | 86,271    |   |   | 2,927,175    |
|                          | Wells Fargo & Co.                                         |                          |                          | 1,334,719    |   |   | 49,371,256    |
|                          |                                                          |                          | 92,227,229     |
|                          | Diversified Financials – (41.84%)                       |
|                          | Capital Markets – (24.50%)                              |
|                          | Ameriprise Financial, Inc.                                    |                          |                          | 111,554    |   |   | 8,215,952    |
|                          | Bank of New York Mellon Corp.                                 |                          |                          | 1,193,374    |   |   | 33,402,538    |
|                          | Brookfield Asset Management Inc., Class A  (Canada) |                          |                          | 680,090    |   |   | 24,816,484    |
|                          | Charles Schwab Corp.                                          |                          |                          | 95,998    |   |   | 1,698,205    |
|                          | Goldman Sachs Group, Inc.                                     |                          |                          | 126,992    |   |   | 18,686,873    |
|                          | Julius Baer Group Ltd.  (Switzerland)               |                          |                          | 722,832    |   |   | 28,104,634    |
|                          | Oaktree Capital Group LLC, Class A                            |                          |                          | 537,600    |   |   | 27,428,352    |
|                          |                                                          | 142,353,038    |
|                          | Consumer Finance – (11.45%)                             |
|                          | American Express Co.  (b)                           |                          |                          | 967,182    |   |   | 65,246,098    |
|                          | First Marblehead Corp.  *                           |                          |                          | 1,305,032    |   |   | 1,318,082    |
|                          |                                                          | 66,564,180     |
|                          | Diversified Financial Services – (5.89%)                |
|                          | Bank of America Corp.                                         |                          |                          | 121,264    |   |   | 1,476,996    |
|                          | Cielo S.A.  (Brazil)                                |                          |                          | 236,304    |   |   | 6,961,364    |
|                          | Visa Inc., Class A                                            |                          |                          | 151,737    |   |   | 25,771,012    |
|                          |                                                          | 34,209,372     |
|                          |                                                          |                          | 243,126,590    |
|                          | Insurance – (30.05%)                                    |
|                          | Multi-line Insurance – (10.14%)                         |
|                          | American International Group, Inc.  *               |                          |                          | 713,000    |   |   | 27,678,660    |
|                          | Loews Corp.  (b)                                    |                          |                          | 709,245    |   |   | 31,256,427    |
|                          |                                                          | 58,935,087     |
|                          | Property & Casualty Insurance – (10.35%)            |
|                          | Markel Corp.  *                                     |                          |                          | 67,186    |   |   | 33,828,151    |
|                          | Progressive Corp.                                             |                          |                          | 1,041,565    |   |   | 26,320,348    |
|                          |                                                          | 60,148,499     |

----

| DAVIS SERIES, INC.                 | Schedule of Investments    |
|------------------------------------|----------------------------|
| DAVIS FINANCIAL FUND - (CONTINUED) | March 31, 2013 (Unaudited) |

|                                   | Shares/Principal                                                                                                                                                                                                                                                        |                          | Value                         |
|----------------------------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-------------------------------|-------------------------------|
| COMMON STOCK – (CONTINUED)       |
|                                   | FINANCIALS – (CONTINUED)                                                                                                                                                                                                                                          |
|                                   |                                                                                                                                                                                                                                                                    | Insurance – (Continued) |
|                                   |                                                                                                                                                                                                                                                                    |                          | Reinsurance – (9.56%)   |
|                                   |                                                                                                                                                                                                                                                                    |                          | Alleghany Corp.  *  |   |   | 75,318    |   | $ | 29,819,902    |
|                                   | Everest Re Group, Ltd.                                                                                                                                                                                                                                                  |                          |                          | 197,972    |   |   | 25,708,644    |
|                                   |                                                                                                                                                                                                                                                                    | 55,528,546     |
|                                   |                                                                                                                                                                                                                                                                    |                          | 174,612,132    |
|                                   |                                                                                                                                                                                                                                                                    |                          |                          |   |   | Total Financials |   |   | 509,965,951    |
|                                   | INFORMATION TECHNOLOGY – (2.35%)                                                                                                                                                                                                                                  |
|                                   | Software & Services – (2.35%)                                                                                                                                                                                                                                 |
|                                   | Google Inc., Class A  *                                                                                                                                                                                                                                       |                          |                          | 17,200    |   |   | 13,647,770    |
|                                   | Total Information Technology                                                                                                                                                                                                                                            |                          |                          | 13,647,770    |
|                                   |  TOTAL COMMON STOCK – (Identified cost $346,330,337)                                                                                                                                                                                                    |                          |                          | 567,427,185    |
| SHORT-TERM INVESTMENTS – (2.38%) |
|                                   | Barclays Capital Inc. Joint Repurchase Agreement, 0.15%, 04/01/13, dated 03/28/13, repurchase value of $1,660,028 (collateralized by: U.S. Government agency obligation in a pooled cash account, 0.375%, 04/15/15, total market value $1,693,200)                      |                          | $                             | 1,660,000    |   |   | 1,660,000    |
|                                   | Mizuho Securities USA Inc. Joint Repurchase Agreement, 0.26%, 04/01/13, dated 03/28/13, repurchase value of $12,200,352 (collateralized by: U.S. Government agency mortgages in a pooled cash account, 3.00%-11.00%, 09/15/23-09/15/40, total market value $12,444,000) |                          |                          | 12,200,000    |   |   | 12,200,000    |
|                                   |  TOTAL SHORT-TERM INVESTMENTS – (Identified cost $13,860,000)                                                                                                                                                                                           |                          |                          | 13,860,000    |
|                                   | Total Investments – (100.03%) – (Identified cost $360,190,337) – (c)                                                                                                                                                                                  |                          |                          | 581,287,185    |
|                                   | Liabilities Less Other Assets – (0.03%)                                                                                                                                                                                                                           |                          |                          | (200,233)    |
|                                   | Net Assets – (100.00%)                                                                                                                                                                                                                                            |                          | $                             | 581,086,952    |

----

| DAVIS SERIES, INC.                 | Schedule of Investments    |
|------------------------------------|----------------------------|
| DAVIS FINANCIAL FUND - (CONTINUED) | March 31, 2013 (Unaudited) |

| ADR: American Depositary Receipt |
|----------------------------------|
|                             |
| GDR: Global 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 valued under methods approved by the Board of Directors as reflecting fair value. The aggregate value of restricted securities amounted to $6,968,033 or 1.20% of the Fund’s net assets as of March 31, 2013.                                                                                                                                                                                                                                                |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
| (b)    | A portion of these securities is pledged to cover unfunded capital commitments at March 31, 2013. Unfunded capital commitments represent agreements which obligate a fund to meet capital calls in the future. Payment would be made when a capital call is requested. Capital calls can only be made if and when certain requirements have been fulfilled; thus, the timing and the amount of such capital calls cannot readily be determined. Unfunded capital commitments are recorded when capital calls are requested. As of March 31, 2013, unfunded capital commitments amounted to $7,581,308. |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
| (c)    | Aggregate cost for federal income tax purposes is $365,691,031. At March 31, 2013 unrealized appreciation (depreciation) of securities for federal income tax purposes is as follows:                                                                                                                                                                                                                                                                                                                                                                                                                  |

|   | Unrealized appreciation     |   | $      | 253,974,998     |
|--------|-----------------------------|--------|--------|--------------------------------|
|   | Unrealized depreciation     |   |   | (38,378,844)    |
|   | Net unrealized appreciation |   | $      | 215,596,154     |

| Please refer to “Notes to Schedule of Investments” on page 20 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. |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| DAVIS SERIES, INC.                   | Schedule of Investments    |
|--------------------------------------|----------------------------|
| DAVIS APPRECIATION & INCOME FUND | March 31, 2013 (Unaudited) |

|                          | Shares                                                             |                              | Value                        |
|-------------------------------|--------------------------------------------------------------------|-----------------------------------|------------------------------|
| COMMON STOCK – (65.06%) |
|                          | CONSUMER DISCRETIONARY – (8.50%)                             |
|                          |                                                               | Consumer Services – (0.01%) |
|                          |                                                               |                              |                         | School Specialty, Inc.  * |   |   | 575,363    |   | $ | 43,152    |
|                          | Media – (3.16%)                                              |
|                          | News Corp., Class A                                                |                              |                         | 366,300    |   |   | 11,173,982    |
|                          | Retailing – (5.33%)                                          |
|                          | Amazon.com, Inc.  *                                      |                              |                         | 18,113    |   |   | 4,826,118    |
|                          | Kohl's Corp.                                                       |                              |                         | 303,800    |   |   | 14,014,294    |
|                          |                                                               |                              | 18,840,412    |
|                          |                                                               |                              |                         | Total Consumer Discretionary |   |   | 30,057,546    |
|                          | CONSUMER STAPLES – (2.16%)                                   |
|                          | Food & Staples Retailing – (2.16%)                       |
|                          | Whole Foods Market, Inc.                                           |                              |                         | 88,000    |   |   | 7,634,880    |
|                          | Total Consumer Staples                                             |                              |                         | 7,634,880    |
|                          | ENERGY – (10.83%)                                            |
|                          | Devon Energy Corp.                                                 |                              |                         | 240,100    |   |   | 13,546,442    |
|                          | Nabors Industries Ltd.                                             |                              |                         | 710,900    |   |   | 11,530,798    |
|                          | Transocean Ltd.  *                                       |                              |                         | 254,431    |   |   | 13,220,235    |
|                          | Total Energy                                                       |                              |                         | 38,297,475    |
|                          | FINANCIALS – (9.90%)                                         |
|                          | Diversified Financials – (9.90%)                             |
|                          | Consumer Finance – (3.06%)                                   |
|                          | ADFITECH, Inc.  *                                        |                              |                         | 266,000    |   |   | 1,050,700    |
|                          | American Express Co.                                               |                              |                         | 145,000    |   |   | 9,781,700    |
|                          |                                                               | 10,832,400         |
|                          | Diversified Financial Services – (6.84%)                     |
|                          | Bank of America Corp.                                              |                              |                         | 837,486    |   |   | 10,200,579    |
|                          | Citigroup Inc.                                                     |                              |                         | 315,952    |   |   | 13,977,717    |
|                          |                                                               | 24,178,296         |
|                          |                                                               | 35,010,696         |
|                          | Total Financials                                                   |                              |                         | 35,010,696    |
|                          | HEALTH CARE – (7.73%)                                        |
|                          | Health Care Equipment & Services – (4.36%)               |
|                          | Universal Health Services, Inc., Class B                           |                              |                         | 241,500    |   |   | 15,424,605    |
|                          | Pharmaceuticals, Biotechnology & Life Sciences – (3.37%) |
|                          | Valeant Pharmaceuticals International, Inc.  (Canada)*   |                              |                         | 158,546    |   |   | 11,894,121    |
|                          | Total Health Care                                                  |                              |                         | 27,318,726    |
|                          | INDUSTRIALS – (12.71%)                                       |
|                          | Capital Goods – (9.63%)                                      |
|                          | General Electric Co.                                               |                              |                         | 424,200    |   |   | 9,807,504    |
|                          | Masco Corp.                                                        |                              |                         | 524,500    |   |   | 10,621,125    |
|                          | Quanta Services, Inc.  *                                 |                              |                         | 476,990    |   |   | 13,632,374    |
|                          |                                                               |                              | 34,061,003    |
|                          | Commercial & Professional Services – (3.08%)             |
|                          | Waste Connections, Inc.                                            |                              |                         | 302,750    |   |   | 10,892,945    |
|                          | Total Industrials                                                  |                              |                         | 44,953,948    |
|                          | INFORMATION TECHNOLOGY – (4.94%)                             |
|                          | Semiconductors & Semiconductor Equipment – (4.94%)       |
|                          | Fairchild Semiconductor International, Inc.  *           |                              |                         | 501,897    |   |   | 7,096,824    |
|                          | Intel Corp.                                                        |                              |                         | 128,300    |   |   | 2,801,430    |

----

| DAVIS SERIES, INC.                                 | Schedule of Investments    |
|----------------------------------------------------|----------------------------|
| DAVIS APPRECIATION & INCOME FUND - (CONTINUED) | March 31, 2013 (Unaudited) |

|                                        | Shares/Principal                                                                             |                                                             | Value  |
|---------------------------------------------|----------------------------------------------------------------------------------------------|------------------------------------------------------------------|--------|
| COMMON STOCK – (CONTINUED)            |
|                                        | INFORMATION TECHNOLOGY – (CONTINUED)                                                   |
|                                        |                                                                                         | Semiconductors & Semiconductor Equipment – (Continued) |
|                                        |                                                                                         |                                                             |   | International Rectifier Corp.  * |   |   | 357,100    |   | $ | 7,552,665    |
|                                        |                                                                                         | 17,450,919                                        |
|                                        |                                                                                         |                                                             |   | Total Information Technology |   |   | 17,450,919    |
|                                        | MATERIALS – (6.44%)                                                                    |
|                                        | Allegheny Technologies, Inc.                                                                 |                                                             |   | 277,100    |   |   | 8,786,841    |
|                                        | Freeport-McMoRan Copper & Gold Inc.                                                      |                                                             |   | 195,482    |   |   | 6,470,454    |
|                                        | Molycorp, Inc.  *                                                                  |                                                             |   | 223,900    |   |   | 1,164,280    |
|                                        | United States Steel Corp.                                                                    |                                                             |   | 325,700    |   |   | 6,351,150    |
|                                        | Total Materials                                                                              |                                                             |   | 22,772,725    |
|                                        | UTILITIES – (1.85%)                                                                    |
|                                        | AES Corp.                                                                                    |                                                             |   | 521,700    |   |   | 6,557,769    |
|                                        | Total Utilities                                                                              |                                                             |   | 6,557,769    |
|                                        |  TOTAL COMMON STOCK – (Identified cost $225,859,970)                         |                                                             |   | 230,054,684    |
| CONVERTIBLE PREFERRED STOCK – (6.44%) |
|                                        | FINANCIALS – (2.12%)                                                                   |
|                                        | Real Estate – (2.12%)                                                                  |
|                                        | Alexandria Real Estate Equities, Inc., 7.00%, Series D, Cum. Conv. Pfd.                      |                                                             |   | 274,010    |   |   | 7,501,024    |
|                                        | Total Financials                                                                             |                                                             |   | 7,501,024    |
|                                        | INDUSTRIALS – (2.04%)                                                                  |
|                                        | Transportation – (2.04%)                                                               |
|                                        | Continental Airlines Finance Trust II, 6.00%, Conv. Pfd.                                     |                                                             |   | 153,200    |   |   | 7,219,550    |
|                                        | Total Industrials                                                                            |                                                             |   | 7,219,550    |
|                                        | UTILITIES – (2.28%)                                                                    |
|                                        | AES Trust III, 6.75%, Conv. Pfd.                                                             |                                                             |   | 158,738    |   |   | 8,051,001    |
|                                        | Total Utilities                                                                              |                                                             |   | 8,051,001    |
|                                        |  TOTAL CONVERTIBLE PREFERRED STOCK – (Identified cost $15,053,836)           |                                                             |   | 22,771,575    |
| CONVERTIBLE BONDS – (23.36%)          |
|                                        | CONSUMER DISCRETIONARY – (1.39%)                                                       |
|                                        | Consumer Services – (1.39%)                                                            |
|                                        | School Specialty, Inc., Conv. Sub. Deb., 3.75%, 11/30/26    (a)          |                                                             | $      | 10,900,000    |   |   | 4,932,196    |
|                                        | Total Consumer Discretionary                                                                 |                                                             |   | 4,932,196    |
|                                        | CONSUMER STAPLES – (5.12%)                                                             |
|                                        | Food, Beverage & Tobacco – (5.12%)                                                 |
|                                        | Tyson Foods, Inc., Conv. Sr. Notes, 3.25%, 10/15/13                                          |                                                             |   | 12,212,000    |   |   | 18,111,922    |
|                                        | Total Consumer Staples                                                                       |                                                             |   | 18,111,922    |
|                                        | FINANCIALS – (6.55%)                                                                   |
|                                        | Real Estate – (6.55%)                                                                  |
|                                        | Digital Realty Trust, L.P., 144A Conv. Sr. Notes, 5.50%, 04/15/29    (b) |                                                             |   | 3,434,000    |   |   | 5,764,827    |
|                                        | Forest City Enterprises, Inc., Conv. Sr. Notes, 3.625%, 10/15/14                             |                                                             |   | 10,140,000    |   |   | 12,604,020    |
|                                        | Forest City Enterprises, Inc., Conv. Sr. Notes, 4.25%, 08/15/18                              |                                                             |   | 4,300,000    |   |   | 4,775,688    |
|                                        |                                                                                         | 23,144,535                                        |
|                                        | Total Financials                                                                             |                                                             |   | 23,144,535    |

----

| DAVIS SERIES, INC.                                 | Schedule of Investments    |
|----------------------------------------------------|----------------------------|
| DAVIS APPRECIATION & INCOME FUND - (CONTINUED) | March 31, 2013 (Unaudited) |

|                                  | Principal                                                                                            |                          | Value                                                  |
|---------------------------------------|------------------------------------------------------------------------------------------------------|-------------------------------|--------------------------------------------------------|
| CONVERTIBLE BONDS – (CONTINUED) |
|                                  | INDUSTRIALS – (3.95%)                                                                          |
|                                  |                                                                                                 | Capital Goods – (3.95%) |
|                                  |                                                                                                 |                          | United Rentals, Inc., Conv. Sr. Notes, 4.00%, 11/15/15 |   | $ | 2,819,000    |   | $ | 13,962,859    |
|                                  |                                                                                                 |                          |                                                   |   | Total Industrials |   |   | 13,962,859    |
|                                  | INFORMATION TECHNOLOGY – (3.97%)                                                               |
|                                  | Semiconductors & Semiconductor Equipment – (3.97%)                                         |
|                                  | Intel Corp., Conv. Jr. Sub. Deb., 3.25%, 08/01/39                                                    |                          |                                                   | 11,635,000    |   |   | 14,027,505    |
|                                  | Total Information Technology                                                                         |                          |                                                   | 14,027,505    |
|                                  | MATERIALS – (2.38%)                                                                            |
|                                  | Molycorp, Inc., Conv. Sr. Notes, 3.25%, 06/15/16                                                     |                          |                                                   | 7,235,000    |   |   | 4,467,613    |
|                                  | Molycorp, Inc., Conv. Sr. Notes, 6.00%, 09/01/17                                                     |                          |                                                   | 5,548,000    |   |   | 3,959,885    |
|                                  | Total Materials                                                                                      |                          |                                                   | 8,427,498    |
|                                  |  TOTAL CONVERTIBLE BONDS – (Identified cost $72,105,433)                             |                          |                                                   | 82,606,515    |
| CORPORATE BONDS – (2.32%)       |
|                                  | CONSUMER DISCRETIONARY – (0.37%)                                                               |
|                                  | Retailing – (0.37%)                                                                            |
|                                  | Kohl's Corp., Sr. Notes, 6.25%, 12/15/17                                                             |                          |                                                   | 1,132,000    |   |   | 1,314,724    |
|                                  | Total Consumer Discretionary                                                                         |                          |                                                   | 1,314,724    |
|                                  | FINANCIALS – (0.48%)                                                                           |
|                                  | Diversified Financials – (0.17%)                                                               |
|                                  | Consumer Finance – (0.17%)                                                                     |
|                                  | ADFITECH, Inc., Sr. Bond, 8.00%, 03/15/20                                                            |                          |                                                   | 1,040,991    |   |   | 616,336    |
|                                  | Real Estate – (0.31%)                                                                          |
|                                  | Thornburg Mortgage, Inc., Sr. Notes, 8.00%, 05/15/13    (a)                      |                          |                                                   | 13,300,000    |   |   | 1,080,625    |
|                                  | Total Financials                                                                                     |                          |                                                   | 1,696,961    |
|                                  | HEALTH CARE – (0.31%)                                                                          |
|                                  | Pharmaceuticals, Biotechnology & Life Sciences – (0.31%)                                   |
|                                  | Valeant Pharmaceuticals International, Inc., 144A Sr. Notes, 6.75%, 08/15/21  (Canada) (b) |                          |                                                   | 1,000,000    |   |   | 1,070,000    |
|                                  | Total Health Care                                                                                    |                          |                                                   | 1,070,000    |
|                                  | INDUSTRIALS – (0.35%)                                                                          |
|                                  | Capital Goods – (0.35%)                                                                        |
|                                  | Masco Corp., Sr. Notes, 6.125%, 10/03/16                                                             |                          |                                                   | 1,109,500    |   |   | 1,239,970    |
|                                  | Total Industrials                                                                                    |                          |                                                   | 1,239,970    |
|                                  | MATERIALS – (0.81%)                                                                            |
|                                  | Molycorp Inc., Sr. Notes, 10.00%, 06/01/20                                                           |                          |                                                   | 2,900,000    |   |   | 2,871,000    |
|                                  | Total Materials                                                                                      |                          |                                                   | 2,871,000    |
|                                  |  TOTAL CORPORATE BONDS – (Identified cost $17,081,009)                               |                          |                                                   | 8,192,655    |
|                                  | Total Investments – (97.18%) – (Identified cost $330,100,248) – (c)                |                          |                                                   | 343,625,429    |
|                                  | Other Assets Less Liabilities – (2.82%)                                                        |                          |                                                   | 9,962,938    |
|                                  | Net Assets – (100.00%)                                                                         |                          | $                                                      | 353,588,367    |

----

| DAVIS SERIES, INC.                                 | Schedule of Investments    |
|----------------------------------------------------|----------------------------|
| DAVIS APPRECIATION & INCOME FUND - (CONTINUED) | March 31, 2013 (Unaudited) |

| *      | Non-Income producing security.                                                                                                                                                                                                                                                                                                                                                                                          |
|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |                                                                                                                                                                                                                                                                                                                                                                                                                    |
| (a)    | These securities are in default and are 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, 2013, the value of defaulted securities amounted to $6,012,821 (cost: $20,698,118) or 1.70% of the Fund's net assets. |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                    |
| (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 $6,834,827 or 1.93% of the Fund's net assets as of March 31, 2013.                                                                                                                                      |
|   |                                                                                                                                                                                                                                                                                                                                                                                                                    |
| (c)    | Aggregate cost for federal income tax purposes is $330,100,248. At March 31, 2013 unrealized appreciation (depreciation) of securities for federal income tax purposes is as follows:                                                                                                                                                                                                                                   |

|   | Unrealized appreciation     |   | $      | 75,424,319      |
|--------|-----------------------------|--------|--------|--------------------------------|
|   | Unrealized depreciation     |   |   | (61,899,138)    |
|   | Net unrealized appreciation |   | $      | 13,525,181      |

| Please refer to “Notes to Schedule of Investments” on page 20 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. |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| DAVIS SERIES, INC.     | Schedule of Investments    |
|------------------------|----------------------------|
| DAVIS REAL ESTATE FUND | March 31, 2013 (Unaudited) |

|                          | Shares                                                 |                          | Value  |
|-------------------------------|--------------------------------------------------------|-------------------------------|--------|
| COMMON STOCK – (78.09%) |
|                          | FINANCIALS – (76.88%)                            |
|                          | Real Estate – (76.88%)                           |
|                          | Real Estate Investment Trusts (REITs) – (73.11%) |
|                          | Diversified REITs – (5.98%)                      |
|                          | Liberty Property Trust                                 |                          |   | 144,700    |   | $ | 5,751,825    |
|                          | Vornado Realty Trust                                   |                          |   | 121,984    |   |   | 10,202,742    |
|                          |                                                   | 15,954,567     |
|                          | Industrial REITs – (1.45%)                       |
|                          | EastGroup Properties, Inc.                             |                          |   | 66,550    |   |   | 3,873,210    |
|                          | Office REITs – (18.65%)                          |
|                          | Alexandria Real Estate Equities, Inc.                  |                          |   | 140,383    |   |   | 9,964,385    |
|                          | BioMed Realty Trust, Inc.                              |                          |   | 178,150    |   |   | 3,848,040    |
|                          | Boston Properties, Inc.                                |                          |   | 76,450    |   |   | 7,726,037    |
|                          | Corporate Office Properties Trust                      |                          |   | 167,038    |   |   | 4,456,574    |
|                          | Digital Realty Trust, Inc.                             |                          |   | 168,512    |   |   | 11,275,138    |
|                          | DuPont Fabros Technology Inc.                          |                          |   | 299,400    |   |   | 7,266,438    |
|                          | SL Green Realty Corp.                                  |                          |   | 60,380    |   |   | 5,199,322    |
|                          |                                                   | 49,735,934     |
|                          | Residential REITs – (17.20%)                     |
|                          | American Campus Communities, Inc.                      |                          |   | 124,200    |   |   | 5,631,228    |
|                          | AvalonBay Communities, Inc.                            |                          |   | 68,040    |   |   | 8,618,627    |
|                          | BRE Properties, Inc.                                   |                          |   | 105,000    |   |   | 5,111,400    |
|                          | Campus Crest Communities, Inc.                         |                          |   | 73,200    |   |   | 1,017,480    |
|                          | Colonial Properties Trust                              |                          |   | 68,000    |   |   | 1,537,480    |
|                          | Education Realty Trust, Inc.                           |                          |   | 550,240    |   |   | 5,794,027    |
|                          | Equity Residential                                     |                          |   | 96,810    |   |   | 5,330,359    |
|                          | Essex Property Trust, Inc.                             |                          |   | 45,090    |   |   | 6,789,652    |
|                          | Post Properties, Inc.                                  |                          |   | 127,980    |   |   | 6,027,858    |
|                          |                                                   | 45,858,111     |
|                          | Retail REITs – (14.68%)                          |
|                          | CBL & Associates Properties, Inc.                  |                          |   | 153,800    |   |   | 3,629,680    |
|                          | DDR Corp.                                              |                          |   | 163,070    |   |   | 2,840,679    |
|                          | Federal Realty Investment Trust                        |                          |   | 44,970    |   |   | 4,858,559    |
|                          | General Growth Properties, Inc.                        |                          |   | 162,100    |   |   | 3,222,548    |
|                          | Kimco Realty Corp.                                     |                          |   | 101,340    |   |   | 2,270,016    |
|                          | Simon Property Group, Inc.                             |                          |   | 121,932    |   |   | 19,333,538    |
|                          | Taubman Centers, Inc.                                  |                          |   | 38,500    |   |   | 2,989,910    |
|                          |                                                   | 39,144,930     |
|                          | Specialized REITs – (15.15%)                     |
|                          | American Tower Corp.                                   |                          |   | 87,590    |   |   | 6,737,423    |
|                          | HCP, Inc.                                              |                          |   | 59,700    |   |   | 2,976,642    |
|                          | Host Hotels & Resorts Inc.                         |                          |   | 259,050    |   |   | 4,530,784    |
|                          | LaSalle Hotel Properties                               |                          |   | 223,170    |   |   | 5,664,055    |
|                          | Public Storage                                         |                          |   | 38,670    |   |   | 5,890,214    |
|                          | Rayonier Inc.                                          |                          |   | 103,660    |   |   | 6,185,392    |
|                          | Sunstone Hotel Investors, Inc.  *            |                          |   | 117,500    |   |   | 1,446,425    |
|                          | Ventas, Inc.                                           |                          |   | 95,300    |   |   | 6,975,960    |
|                          |                                                   | 40,406,895     |
|                          |                                                   | 194,973,647    |

----

| DAVIS SERIES, INC.                   | Schedule of Investments    |
|--------------------------------------|----------------------------|
| DAVIS REAL ESTATE FUND - (CONTINUED) | March 31, 2013 (Unaudited) |

|                              | Shares/Principal                                                                             |                            | Value                                           |
|-----------------------------------|----------------------------------------------------------------------------------------------|---------------------------------|-------------------------------------------------|
| COMMON STOCK – (CONTINUED)  |
|                              | FINANCIALS – (CONTINUED)                                                               |
|                              |                                                                                         | Real Estate – (Continued) |
|                              |                                                                                         |                            |                                            | Real Estate Management & Development – (3.77%) |
|                              |                                                                                         |                            | Real Estate Operating Companies – (3.77%) |
|                              | Forest City Enterprises, Inc., Class A  *                                          |                            |                                            | 564,754    |   | $ | 10,035,679    |
|                              |                                                                                         |                            |                                            | Total Financials |   |   | 205,009,326    |
|                              | TELECOMMUNICATION SERVICES – (1.21%)                                                   |
|                              | SBA Communications Corp., Class A  *                                               |                            |                                            | 44,800    |   |   | 3,226,272    |
|                              | Total Telecommunication Services                                                             |                            |                                            | 3,226,272    |
|                              |  TOTAL COMMON STOCK – (Identified cost $185,583,769)                         |                            |                                            | 208,235,598    |
| PREFERRED STOCK – (8.27%)   |
|                              | FINANCIALS – (8.27%)                                                                   |
|                              | Real Estate – (8.27%)                                                                  |
|                              | Real Estate Investment Trusts (REITs) – (8.27%)                                        |
|                              | Industrial REITs – (1.60%)                                                             |
|                              | Prologis, Inc., 6.75%, Series M                                                              |                            |                                            | 171,000    |   |   | 4,276,710    |
|                              | Office REITs – (5.23%)                                                                 |
|                              | Alexandria Real Estate Equities, Inc., 7.00%, Series D, Cum. Conv. Pfd.                      |                            |                                            | 468,943    |   |   | 12,837,314    |
|                              | DuPont Fabros Technology Inc., 7.625%, Series B                                              |                            |                                            | 41,000    |   |   | 1,115,971    |
|                              |                                                                                         | 13,953,285       |
|                              | Retail REITs – (1.44%)                                                                 |
|                              | CBL & Associates Properties, Inc., 7.375%, Series D                                      |                            |                                            | 114,160    |   |   | 2,910,224    |
|                              | Taubman Centers, Inc., 6.50%, Series J                                                       |                            |                                            | 35,620    |   |   | 925,942    |
|                              |                                                                                         | 3,836,166        |
|                              | Total Financials                                                                             |                            |                                            | 22,066,161    |
|                              |  TOTAL PREFERRED STOCK – (Identified cost $10,672,337)                       |                            |                                            | 22,066,161    |
| CONVERTIBLE BONDS – (3.61%) |
|                              | FINANCIALS – (3.61%)                                                                   |
|                              | Real Estate – (3.61%)                                                                  |
|                              | Real Estate Investment Trusts (REITs) – (3.03%)                                        |
|                              | Office REITs – (3.03%)                                                                 |
|                              | Digital Realty Trust, L.P., 144A Conv. Sr. Notes, 5.50%, 04/15/29    (a) |                            | $                                               | 4,815,000    |   |   | 8,083,181    |
|                              | Real Estate Management & Development – (0.58%)                                     |
|                              | Real Estate Operating Companies – (0.58%)                                              |
|                              | Forest City Enterprises, Inc., Conv. Sr. Notes, 5.00%, 10/15/16                              |                            |                                            | 1,040,000    |   |   | 1,532,700    |
|                              | Total Financials                                                                             |                            |                                            | 9,615,881    |
|                              |  TOTAL CONVERTIBLE BONDS – (Identified cost $5,855,000)                      |                            |                                            | 9,615,881    |

----

| DAVIS SERIES, INC.                   | Schedule of Investments    |
|--------------------------------------|----------------------------|
| DAVIS REAL ESTATE FUND - (CONTINUED) | March 31, 2013 (Unaudited) |

|                                   | Principal                                                                                                                                                                                                                                                               |   | Value                                                                          |
|----------------------------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|--------------------------------------------------------------------------------|
| SHORT-TERM INVESTMENTS – (9.06%) |
|                                   | Barclays Capital Inc. Joint Repurchase Agreement, 0.15%, 04/01/13, dated 03/28/13, repurchase value of $2,894,048 (collateralized by: U.S. Government agency obligation in a pooled cash account, 0.375%, 04/15/15, total market value $2,951,880)                      |   | $                                                                              | 2,894,000    |   | $ | 2,894,000    |
|                                   | Mizuho Securities USA Inc. Joint Repurchase Agreement, 0.26%, 04/01/13, dated 03/28/13, repurchase value of $21,271,614 (collateralized by: U.S. Government agency mortgages in a pooled cash account, 3.00%-11.00%, 09/15/23-09/15/40, total market value $21,696,420) |   |                                                                           | 21,271,000    |   |   | 21,271,000    |
|                                   |                                                                                                                                                                                                                                                                    |   |  TOTAL SHORT-TERM INVESTMENTS – (Identified cost $24,165,000)  |   |   | 24,165,000    |
|                                   | Total Investments – (99.03%) – (Identified cost $226,276,106) – (b)                                                                                                                                                                                   |   |                                                                           | 264,082,640    |
|                                   | Other Assets Less Liabilities – (0.97%)                                                                                                                                                                                                                           |   |                                                                           | 2,591,706    |
|                                   |                                                                                                                                                                                                                                                                    |   | Net Assets – (100.00%)                                                   |   | $ | 266,674,346    |

| *      | Non-Income producing security.                                                                                                                                                                                                                                                 |
|--------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |                                                                                                                                                                                                                                                                           |
| (a)    | This security is subject to Rule 144A. The Board of Directors of the Fund has determined that there is sufficient liquidity in this security to realize current valuations. This security amounted to $8,083,181 or 3.03% of the Fund’s net assets as of March 31, 2013. |
|   |                                                                                                                                                                                                                                                                           |
| (b)    | Aggregate cost for federal income tax purposes is $226,954,572. At March 31, 2013 unrealized appreciation (depreciation) of securities for federal income tax purposes is as follows:                                                                                          |

|   | Unrealized appreciation     |   | $      | 38,736,293     |
|--------|-----------------------------|--------|--------|-------------------------------|
|   | Unrealized depreciation     |   |   | (1,608,225)    |
|   | Net unrealized appreciation |   | $      | 37,128,068     |

| Please refer to “Notes to Schedule of Investments” on page 20 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. |
|--------------------------------------------------------------------------------------------------------------------------------------------------------------|

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| DAVIS SERIES, INC. | Notes to Schedule of Investments |
|--------------------|----------------------------------|
|               | March 31, 2013 (Unaudited)       |

|   | 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)                   |

----

| DAVIS SERIES, INC. | Notes to Schedule of Investments – (Continued) |
|--------------------|------------------------------------------------------|
|               | March 31, 2013 (Unaudited)                           |

|                           | Investments in Securities at Value |
|--------------------------------|------------------------------------|
|                           |                               |   |   |   | Davis |   |   |   | Davis |   |   |
|                           | Davis                              |   | Davis |   | Government |   | Davis |   | Appreciation |   | Davis |
|                           | Opportunity                        |   | Government |   | Money Market |   | Financial |   | & Income |   | Real Estate |
|                           | Fund                               |   | Bond Fund |   | Fund |   | Fund |   | Fund |   | Fund |
| Valuation inputs               |                               |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Level 1 – Quoted Prices: |                               |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Equity securities:             |                               |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Consumer discretionary         | $                                  | 47,101,656 |   | $ | – |   | $ | – |   | $ | 8,375,250 |   | $ | 30,057,546 |   | $ | – |
| Consumer staples               |                               | 46,467,040 |   |   | – |   |   | – |   |   | 17,349,345 |   |   | 7,634,880 |   |   | – |
| Energy                         |                               | 15,970,281 |   |   | – |   |   | – |   |   | 18,088,869 |   |   | 38,297,475 |   |   | – |
| Financials                     |                               | 75,533,999 |   |   | – |   |   | – |   |   | 502,997,918 |   |   | 41,461,020 |   |   | 227,075,487 |
| Health care                    |                               | 42,466,657 |   |   | – |   |   | – |   |   | – |   |   | 27,318,726 |   |   | – |
| Industrials                    |                               | 57,267,114 |   |   | – |   |   | – |   |   | – |   |   | 44,953,948 |   |   | – |
| Information technology         |                               | 85,301,875 |   |   | – |   |   | – |   |   | 13,647,770 |   |   | 17,450,919 |   |   | – |
| Materials                      |                               | 12,260,601 |   |   | – |   |   | – |   |   | – |   |   | 22,772,725 |   |   | – |
| Telecommunication services     |                               | 2,137,291 |   |   | – |   |   | – |   |   | – |   |   | – |   |   | 3,226,272 |
| Utilities                      |                               | – |   |   | – |   |   | – |   |   | – |   |   | 14,608,770 |   |   | – |
| Total Level 1                  |                               | 384,506,514 |   |   | – |   |   | – |   |   | 560,459,152 |   |   | 244,556,009 |   |   | 230,301,759 |

| Level 2 – Other Significant                                                        |   |       |   |   |        |   |   |        |   |   |       |   |   |       |   |   |       |
|------------------------------------------------------------------------------------------|--------|------------|--------|--------|-------------|--------|--------|-------------|--------|--------|------------|--------|--------|------------|--------|--------|------------|
| Observable Inputs:                                                                       |   |       |   |   |        |   |   |        |   |   |       |   |   |       |   |   |       |
| Equity securities:                                                                       |   |       |   |   |        |   |   |        |   |   |       |   |   |       |   |   |       |
| Financials                                                                               |   | –    |   |   | –     |   |   | –     |   |   | –    |   |   | 1,050,700  |   |   | –    |
| Industrials                                                                              |   | –    |   |   | –     |   |   | –     |   |   | –    |   |   | 7,219,550  |   |   | –    |
| Debt securities issued by U.S. Treasuries and U.S. Government corporations and agencies: |   |       |   |   |        |   |   |        |   |   |       |   |   |       |   |   |       |
| Long-term                                                                                |   | –    |   |   | 128,476,834 |   |   | –     |   |   | –    |   |   | –    |   |   | –    |
| Short-term                                                                               |   | –    |   |   | –     |   |   | 151,950,136 |   |   | –    |   |   | –    |   |   | –    |
| Convertible debt securities                                                              |   | –    |   |   | –     |   |   | –     |   |   | –    |   |   | 82,606,515 |   |   | 9,615,881  |
| Corporate debt securities                                                                |   | –    |   |   | –     |   |   | –     |   |   | –    |   |   | 8,192,655  |   |   | –    |
| Short-term securities                                                                    |   | 16,998,000 |   |   | 8,768,000   |   |   | 92,796,000  |   |   | 13,860,000 |   |   | –    |   |   | 24,165,000 |
| Total Level 2                                                                            |   | 16,998,000 |   |   | 137,244,834 |   |   | 244,746,136 |   |   | 13,860,000 |   |   | 99,069,420 |   |   | 33,780,881 |

| Level 3 – Significant Unobservable |   |        |   |   |        |   |   |        |   |   |        |   |   |        |   |   |        |
|------------------------------------------|--------|-------------|--------|--------|-------------|--------|--------|-------------|--------|--------|-------------|--------|--------|-------------|--------|--------|-------------|
| Inputs:                                  |   |        |   |   |        |   |   |        |   |   |        |   |   |        |   |   |        |
| Equity securities:                       |   |        |   |   |        |   |   |        |   |   |        |   |   |        |   |   |        |
| Financials                               |   | –     |   |   | –     |   |   | –     |   |   | 6,968,033   |   |   | –     |   |   | –     |
| Total Level 3                            |   | –     |   |   | –     |   |   | –     |   |   | 6,968,033   |   |   | –     |   |   | –     |
| Total Investments                        | $      | 401,504,514 |   | $      | 137,244,834 |   | $      | 244,746,136 |   | $      | 581,287,185 |   | $      | 343,625,429 |   | $      | 264,082,640 |

| Level 2 to Level 1 Transfers*: |   |       |   |   |    |   |   |    |   |   |       |   |   |    |   |   |    |
|--------------------------------|--------|------------|--------|--------|---------|--------|--------|---------|--------|--------|------------|--------|--------|---------|--------|--------|---------|
| Consumer discretionary         | $      | 8,039,852  |   | $      | – |   | $      | – |   | $      | –    |   | $      | – |   | $      | – |
| Consumer staples               |   | 3,378,727  |   |   | – |   |   | – |   |   | –    |   |   | – |   |   | – |
| Financials                     |   | –    |   |   | – |   |   | – |   |   | 55,844,598 |   |   | – |   |   | – |
| Industrials                    |   | 8,151,565  |   |   | – |   |   | – |   |   | –    |   |   | – |   |   | – |
| Total                          | $      | 19,570,144 |   | $      | – |   | $      | – |   | $      | 55,844,598 |   | $      | – |   | $      | – |

| *Application of fair value procedures for securities traded on foreign exchanges triggered the transfers of investments between Level 1 and Level 2 of the fair value hierarchy during the three months ended March 31, 2013. |
|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| DAVIS SERIES, INC. | Notes to Schedule of Investments – (Continued) |
|--------------------|------------------------------------------------------|
|               | March 31, 2013 (Unaudited)                           |

|                                | DavisFinancial Fund |
|-------------------------------------|---------------------|
| Investment Securities:              |                |   |
| Beginning balance                   | $                   | 6,379,189    |
| Decrease in unrealized depreciation |                |    588,844    |
| Ending balance                      | $                   | 6,968,033    |

| Decrease in unrealized depreciation during the period on Level 3 securities still held at March 31, 2013 | $ |   588,844    |
|----------------------------------------------------------------------------------------------------------|---|----------------------------------|

|                              | DavisFinancial Fund |
|-----------------------------------|---------------------|
| Assets TableInvestments at Value: |                |   |
| Equity securities:                |                |   |
| Fair value at March 31, 2013      | $                   | 6,968,033    |

| Valuation technique | Index-based value adjustment with liquidity discount |
|---------------------|------------------------------------------------------|
| Unobservable input  | Discount rate                                        |
| Amount              | 25%                                                  |

----

|  (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-3(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. |
|-----------|--------------------------------------------------------------------------------------------------------------------------------------------------|

| EX-99.CERT - Section 302 Certification |
|----------------------------------------|

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