| Davis Appreciation & Income Fund                                        |                                       |
|-----------------------------------------------------------------------------|---------------------------------------|
| A series of Davis Series, Inc.Class/Ticker: A (RPFCX), C (DCSCX), Y (DCSYX) | Over 50 Years of Reliable InvestingSM |
| Summary Prospectus                                                          | April 30, 2020                        |
| Shareholder Fees(fees paid directly from your investment)                                                                                          | Class A shares | Class C shares | Class Y shares |
|----------------------------------------------------------------------------------------------------------------------------------------------------|----------------|----------------|----------------|
| Maximum Sales Charge (Load) Imposed on Purchases(as a percentage of offering price)                                                                | 4.75%          | None           | None           |
| Maximum Deferred Sales Charge (Load)(as a percentage of the lesser of the net asset value of the shares redeemed or the total cost of such shares) | 0.50%*         | 1.00%          | None           |
| Redemption Fee(as a percentage of total redemption proceeds)                                                                                       | None           | None           | None           |

| * | Only applies if you buy shares valued at $1 million or more without a sales charge and sell the shares within one year of purchase. |
|---|-------------------------------------------------------------------------------------------------------------------------------------|

| Annual Fund Operating Expenses(expenses that you pay each year as a percentage of the value of your investment) | Class A shares | Class C shares | Class Y shares |
|-----------------------------------------------------------------------------------------------------------------|----------------|----------------|----------------|
| Management Fees                                                                                                 | 0.55%          | 0.55%          | 0.55%          |
| Distribution and/or Service (12b-1) Fees                                                                        | 0.24%          | 1.00%          | 0.00%          |
| Other Expenses                                                                                                  | 0.22%          | 0.26%          | 0.14%          |
| Total Annual Operating Expenses                                                                                 | 1.01%          | 1.81%          | 0.69%          |
| Less Fee Waiver or Expense Reimbursement(1)                                                                     | N/A            | -0.01%         | N/A            |
| Net Expenses                                                                                                    | 1.01%          | 1.80%          | 0.69%          |

| (1) | The Adviser is contractually committed to waive fees and/or reimburse the Fund’s expenses to the extent                necessary to cap total annual fund operating expenses for Class C shares at 1.80% until May 1, 2021. After that date, there is no assurance that the Adviser will continue to cap expenses. The expense cap cannot be terminated prior to May 1,                2021, without the consent of the Board of Directors. |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|           | If you redeem your shares in: | If you did not redeem your shares in: |
|----------------|-------------------------------|---------------------------------------|
|           | 1 Year                        | 3 Years                               | 5 Years | 10 Years | 1 Year | 3 Years | 5 Years | 10 Years |
| Class A shares | $573                          | $781                                  | $1,006 | $1,653 | $573 | $781 | $1,006 | $1,653 |
| Class C shares | 283                           | 568                                   | 979 | 2,126 | 183 | 568 | 979 | 2,126 |
| Class Y shares | 70                            | 221                                   | 384 | 859 | 70 | 221 | 384 | 859 |
| Calendar Year Total Returns for Class A Shares(Sales loads are not reflected in the bar chart and, if these amounts were reflected, returns would be less than those shown.) |
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                                                                                                                                                                              | Highest/Lowest quarterly results during the time period were:Highest 11.67%              (quarter ended March 31, 2012)Lowest ‐18.27%              (quarter ended September 30, 2011)Total return for the three months ended March 31, 2020 (non-annualized) was ‐22.46%. |
| Average Annual Total Returns(For the periods ended December 31, 2019, with maximum sales charge) | Past 1 Year | Past 5 Years | Past 10 Years |
|--------------------------------------------------------------------------------------------------|-------------|--------------|---------------|
| Class A shares return before taxes                                                          | 14.62%      | 3.75%        | 6.99%         |
| Class A shares return after taxes on distributions                                          | 14.01%      | 3.43%        | 6.67%         |
| Class A shares return after taxes on distributions and sale of Fund shares                  | 8.99%       | 2.86%        | 5.61%         |
| Class C shares return before taxes                                                          | 18.38%      | 3.93%        | 6.64%         |
| Class Y shares return before taxes                                                          | 20.72%      | 5.05%        | 7.75%         |
| S&P 500® Index reflects no deduction for fees,                expenses or taxes         | 31.49%      | 11.69%       | 13.55%        |
| Davis Appreciation & Income Fund Yield for Class A Shares(For the period ended December 31, 2019) |
|-------------------------------------------------------------------------------------------------------|
| 30-Day SEC Yield:                                                                                     | 0.93% |
| Portfolio Managers | Experience with this Fund | Primary Title with Investment Adviser or Sub-Adviser   |
|--------------------|---------------------------|--------------------------------------------------------|
| Christopher Davis  | Since July 2016           | Chairman, Davis Selected Advisers, L.P.                |
| Creston King       | Since July 2016           | Vice President, Davis Selected Advisers–NY, Inc. |
| Peter Sackmann     | Since July 2016           | Vice President, Davis Selected Advisers–NY, Inc. |
|                          | Class A and C shares | Class Y shares |
|-------------------------------|----------------------|----------------|
| Minimum Initial Investment    | $1,000               | $5,000,000     |
| Minimum Additional Investment | $25                  | $25            |