| It is proposed that this filing will become effective: |
|--------------------------------------------------------|
|   X                                | Immediately upon filing pursuant to paragraph (b) |
|                                                   | On              , pursuant to paragraph (b) |
|                                                   | 60 days after filing pursuant to paragraph (a) |
|                                                   | On              , pursuant to paragraph (a) of Rule 485 |
|                                                   | 75 days after filing pursuant to paragraph (a)(2) of Rule 485 |
|                                                   | On              , pursuant to paragraph (a)(2) of Rule 485 |
| Title of Securities being Registered: |
|---------------------------------------|
|              | Common Stock of: |
|                                  | 1. Davis Opportunity Fund |
|                                  | 2. Davis Financial Fund |
|                                  | 3. Davis Real Estate Fund |
|                                  | 4. Davis Appreciation & Income Fund |
|                                  | 5. Davis Government Bond Fund |
|                                  | 6. Davis Government Money Market Fund |

----

| *By:   | /s/ Ryan Charles      |
|--------|------------------------------------------------|
|   | Ryan Charles                                   |
|   | Attorney-in-Fact                               |
| Signature                                                       | Title                                                                                             | Date        |
|-----------------------------------------------------------------|---------------------------------------------------------------------------------------------------|-------------|
|                                                            |                                                                                              |        |
| /s/ Kenneth Eich*     Kenneth Eich     | Principal Executive Officer                                                                       | May 4, 2018 |
| /s/ Douglas Haines*     Douglas Haines | Principal Financial Officer; and Principal Accounting Officer       | May 4, 2018 |
| *By:   | /s/ Ryan Charles      |
|--------|------------------------------------------------|
|   | Ryan Charles                                   |
|   | Attorney-in-Fact                               |
| Signature                                                                      | Title    | Date        |
|--------------------------------------------------------------------------------|----------|-------------|
| /s/ Marc P. Blum*     Marc P. Blum                    | Director | May 4, 2018 |
| /s/ Andrew A. Davis*     Andrew A. Davis              | Director | May 4, 2018 |
| /s/ Christopher C. Davis*     Christopher C. Davis    | Director | May 4, 2018 |
| /s/ John Gates*     John Gates                        | Director | May 4, 2018 |
| /s/ Thomas S. Gayner*     Thomas S. Gayner            | Director | May 4, 2018 |
| /s/ Samuel H. Iapalucci*     Samuel H. Iapalucci | Director | May 4, 2018 |
| /s/ Robert P. Morgenthau*     Robert P. Morgenthau    | Director | May 4, 2018 |
| /s/ Marsha Williams*     Marsha Williams              | Director | May 4, 2018 |
| *By:   | /s/ Ryan Charles      |
|--------|------------------------------------------------|
|   | Ryan Charles                                   |
|   | Attorney-in-Fact                               |
|           |         |                                          |
|----------------|--------------|-----------------------------------------------|
| Index No. |    | Description of Exhibit                        |
| EX-101.INS     |    | XBRL Instance Document                        |
| EX-101.SCH     |    | XBRL Taxonomy Extension Schema Document       |
| EX-101.DEF     |    | XBRL Taxonomy Extension Definition Linkbase   |
| EX-101.LAB     |    | XBRL Taxonomy Extension Labels Linkbase       |
| EX-101.PRE     |    | XBRL Taxonomy Extension Presentation Linkbase |