UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

FORM N-CSR

CERTIFIED SHAREHOLDER REPORT OF REGISTERED MANAGEMENT INVESTMENT COMPANY

Investment Company Act file number 811-01701

DAVIS NEW YORK VENTURE FUND, INC.

(Exact name of registrant as specified in charter)

2949 East Elvira Road, Suite 101

Tucson, AZ 85756

(Address of principal executive offices)

Lisa J. Cohen

Davis Selected Advisers, L.P.

2949 East Elvira Road, Suite 101

Tucson, AZ 85756

(Name and address of agent for service)

Registrant’s telephone number, including area code: 520-806-7600

Date of fiscal year end: July 31, 2022

Date of reporting period: July 31, 2022

____________________

ITEM 1. REPORT TO STOCKHOLDERS

DAVIS NEW YORK VENTURE FUND

Table of Contents

Shareholder Letter	2

Management’s Discussion of Fund Performance	3

Fund Overview	5

Expense Example	7

Schedule of Investments	8

Statement of Assets and Liabilities	11

Statement of Operations	13

Statements of Changes in Net Assets	14

Notes to Financial Statements	15

Financial Highlights	23

Report of Independent Registered Public Accounting Firm	25

Federal Income Tax Information	26

Director Approval of Advisory Agreements	27

Liquidity Risk Management Program	30

Privacy Notice and Householding	31

Directors and Officers	32

This Annual Report is authorized for use by existing shareholders. Prospective shareholders must receive a current Davis New York Venture Fund (the “Fund”) prospectus, which contains more information about investment strategies, risks, charges, and expenses. Please read the prospectus carefully before investing or sending money.

Shares of the Fund are not deposits or obligations of any bank, are not guaranteed by any bank, are not insured by the FDIC or any other agency, and involve investment risks, including possible loss of the principal amount invested.

Portfolio Proxy Voting Policies and Procedures

The Fund has adopted Portfolio Proxy Voting Policies and Procedures under which the Fund votes proxies relating to securities held by the Fund. A description of the Fund’s Portfolio Proxy Voting Policies and Procedures is available (i) without charge, upon request, by calling the Fund toll-free at 1-800-279-0279, (ii) on the Fund’s website at www.davisfunds.com, and (iii) on the SEC’s website at www.sec.gov.

In addition, the Fund is required to file Form N-PX, with its complete proxy voting record for the 12 months ended June 30^th, no later than August 31^st of each year. The Fund’s Form N-PX filing is available (i) without charge, upon request, by calling the Fund toll-free at 1-800-279-0279, (ii) on the Fund’s website at www.davisfunds.com, and (iii) on the SEC’s website at www.sec.gov.

Quarterly Schedule of Investments

The Fund files its complete schedule of investments with the SEC on Form N-CSR (as of the end of the second and fourth quarters) and on Form N-PORT Part F (as of the end of the first and third quarters). The Fund’s Forms N-CSR (Annual and Semi-Annual Reports) and N-PORT Part F are available without charge, upon request, by calling 1-800-279-0279, on the Fund’s website at www.davisfunds.com, and on the SEC’s website at www.sec.gov. A list of the Fund’s quarter-end holdings is also available at www.davisfunds.com on or about the 15th day following each quarter end and remains available on the website until the list is updated for the subsequent quarter.

DAVIS NEW YORK VENTURE FUND

Shareholder Letter

Dear Fellow Shareholder,

As stewards of our customers’ savings, the management team and Directors of Davis New York Venture Fund recognize the importance of candid, thorough, and regular communication with our shareholders. In our Annual and Semi-Annual Reports we include all of the required quantitative information such as audited financial statements, detailed footnotes, performance reports, fund holdings, and performance attribution. Also included is a list of positions opened and closed.

In addition, we produce a Manager Commentary. In this commentary, we give a more qualitative perspective on fund performance, discuss our thoughts on individual holdings, and share our investment outlook. You may obtain a copy of the current Manager Commentary either on the Fund's website at www.davisfunds.com or by calling 1-800-279-0279.

We value the trust you have placed in us and look forward to continuing our investment journey together.

Sincerely,


Christopher C. Davis	Danton G. Goei
President & Portfolio Manager	Portfolio Manager


September 2, 2022

DAVIS NEW YORK VENTURE FUND

Management’s Discussion of Fund Performance

Performance Overview

Davis New York Venture Fund underperformed the Standard & Poor’s 500^® Index (“S&P 500^®” or the “Index”) for the twelve-month period ended July 31, 2022 (the “period”). The Fund’s Class A shares delivered a total return on net asset value of -17.77%, versus a -4.64% return for the S&P 500^®. The sectors¹ within the S&P 500^® that reported the strongest performance were Energy (up 67%), Utilities (up 15%), and Consumer Staples (up 7%). The sectors within the S&P 500^® that reported the weakest performance were Communication Services (down 29%), Consumer Discretionary (down 10%), and Financials (down 7%).

Detractors from Performance

The Fund continued to hold a large position in Financials. These holdings were an important detractor² from performance both on an absolute basis and relative to the Index. The Fund’s holdings underperformed the S&P 500^®sector (down 10%, versus down 7%) and the Fund was significantly overweight in this weaker performing sector (average weighting of 51%, versus 12%). Capital One Financial³ (down 31%) was the overall top detractor during the period. Capital One Financial remained a top ten holding at the end of the period, representing 6.85% of net assets.

The Fund’s Consumer Discretionary holdings were also a significant detractor from performance. The Fund’s holdings underperformed the Indexsector (down 29%, versus down 10%). Alibaba (down 36%) and Vroom (down 96%) were top detractors from this sector and are no longer held by the Fund.

The Fund was both overweight (average weighting of 11%, versus 10%) and underperformed (down 37%, versus down 29%) the weakest performing Index sector, Communication Services. Meta Platforms (down 55%) and Alphabet (down 14%) were among the largest detractors during the period.

The Fund’s Information Technology holdings were also a key detractor from performance. The Fund’s holdings underperformed the Index sector (down 21%, versus down 5%). Intel (down 30%) and Applied Materials (down 24%) were top detractors from performance.

Additional individual detractors from performance were DiDi Global (down 70%), Viatris (down 29%), and Ping An Insurance (down 29%).

Contributors to Performance

The Fund’s Materials holdings were the most important contributorto performance both on an absolute and relative basis. The Fund’s holdings outperformed the Index sector (up 41%, versus down 5%). OCI (up 49%) and Teck Resources (up 21%), the only holdings in this sector, were among the largest contributors to performance. Teck Resources was a new addition during the period.

The Fund’s Health Care sector was also beneficial to absolute performance. The Fund’s holdings outperformed the Index sector (up 3%, versus up 2%). Cigna (up 22%) was the overall top contributor during the period. Quest Diagnostics (down 2%) started the period off strong but finished on a negative note, thus being down for the entire period. Fortunately, the Fund sold a portion of its shares before the performance declined. As a result, Quest Diagnostics was also a contributor for the period.

Although the aforementioned Financials sector was an important detractor from performance, several individual holdings were key contributors including Berkshire Hathaway (up 8%), DNB Bank (up 11%), Chubb (up 14%), and DBS Group Holdings (up 6%). Berkshire Hathaway was the second-largest holding at the end of the period, representing 8.17% of net assets. The Fund no longer owns DNB Bank.

Additional contributors to performance included two recent additions to the Fund, Owens Corning (up 9%) and Samsung Electronics (up 5%).

Davis New York Venture Fund’s investment objective is long-term growth of capital. There can be no assurance that the Fund will achieve its objective. Davis New York Venture Fund’s principal risks are: stock market risk, common stock risk, financial services risk, foreign country risk, China risk-generally, headline risk, large-capitalization companies risk, manager risk, depositary receipts risk, emerging market risk, fees and expenses risk, foreign currency risk, and mid- and small- capitalization companies risk. See the prospectus for a full description of each risk.

Past performance does not guarantee future results, Fund prices fluctuate, and the value of an investment may be worth more or less than the purchase price. Data provided in this performance overview is for the twelve-month period ended July 31, 2022, unless otherwise noted. Return figures for underlying Fund positions reflect the return of the security from the beginning of the period or the date of first purchase if subsequent thereto through the end of the period or the date the position is completely liquidated. The actual contribution to the Fund will vary based on a number of factors (e.g., trading activity, weighting). Portfolio holding information is as of the end of the twelve-month period, July 31, 2022, unless otherwise noted.

The companies included in the Standard & Poor’s 500^® Index are divided into eleven sectors. One or more industry groups make up a sector. For purposes of measuring concentration, the Fund generally classifies companies at the industry group or industry level. See the SAI for additional information regarding the Fund’s concentration policy.

²	A company’s or sector’s contribution to or detraction from the Fund’s performance is a product both of its appreciation or depreciation and its weighting within the Fund. For example, a 5% holding that rises 20% has twice as much impact as a 1% holding that rises 50%.

This Management Discussion of Fund Performance discusses a number of individual companies. The information provided in this report does not provide information reasonably sufficient upon which to base an investment decision and should not be considered a recommendation to purchase, sell, or hold any particular security. The Schedule of Investments lists the Fund’s holdings of each company discussed.

DAVIS NEW YORK VENTURE FUND

Management’s Discussion of Fund Performance – (Continued)

Comparison of a $10,000 investment in Davis New York Venture Fund Class A versus the

Standard & Poor’s 500^® Index over 10 years for an investment made on July 31, 2012

Average Annual Total Return for periods ended July 31, 2022

Fund & Benchmark Index	1-Year	5-Year	10-Year	Since Inception	Inception Date	Gross Expense Ratio	Net Expense Ratio
Class A - without sales charge	(17.77)%	5.72%	9.82%	11.17%	02/17/69	0.91%	0.91%
Class A - with sales charge*	(21.68)%	4.70%	9.29%	11.08%	02/17/69	0.91%	0.91%
Class B†^, **	(21.14)%	4.56%	9.08%	9.21%	12/01/94	2.06%	1.75%
Class C††^, **	(19.13)%	4.88%	9.13%	9.12%	12/20/94	1.73%	1.73%
Class R	(18.02)%	5.42%	9.49%	7.30%	08/20/03	1.12%	1.12%
Class Y	(17.59)%	5.98%	10.09%	8.34%	10/02/96	0.66%	0.66%
S&P 500^® Index***	(4.64)%	12.82%	13.79%	10.31%

The Standard & Poor’s 500^® Index is an unmanaged index of 500 selected common stocks, most of which are listed on the New York Stock Exchange. The Index is adjusted for dividends, weighted towards stocks with large market capitalizations, and represents approximately two-thirds of the total market value of all domestic common stocks. Investments cannot be made directly in the Index.

The performance data quoted in this report represents past performance, assumes that all distributions were reinvested, and is not a guarantee of future results. The investment return and principal value will fluctuate so that shares may be worth more or less than their original cost when redeemed. Current performance may be higher or lower than performance data quoted. Returns shown do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. The operating expense ratios may vary in future years. For most recent month-end performance information, please call Investor Services at 1-800-279-0279 or visit the Fund’s website at www.davisfunds.com.

Average Annual Total Return for periods ended June 30, 2022

Class A Shares	1-Year	5-Year	10-Year
With sales charge*	(28.69)%	3.98%	8.75%

*Reflects 4.75% front-end sales charge.

†Because Class B shares automatically convert to Class A shares after 7 years, the “10-Year” and “Since Inception” returns for Class B reflect Class A performance for the period after conversion.

**Includes any applicable contingent deferred sales charge.

††Because Class C shares automatically convert to Class A shares after 8 years, the “10-Year” and “Since Inception” returns for Class C reflect Class A performance for the period after conversion.

***Inception return is from February 17, 1969.

DAVIS NEW YORK VENTURE FUND	Fund Overview
	July 31, 2022

Portfolio Composition		Industry Weightings
(% of Fund’s 07/31/22 Net Assets)		(% of 07/31/22 Stock Holdings)

			Fund		S&P 500^®
Common Stock (U.S.)	75.48%	Banks	22.28%		3.61%
Common Stock (Foreign)	22.82%	Diversified Financials	20.87%		4.99%
Short-Term Investments	1.74%	Information Technology	13.70%		27.91%
Other Assets & Liabilities	(0.04)%	Media & Entertainment	10.21%		7.20%
	100.00%	Health Care	9.25%		14.32%
		Retailing	8.88%		6.21%
		Insurance	7.46%		2.03%
		Materials	3.23%		2.52%
		Capital Goods	1.57%		5.28%
		Food, Beverage & Tobacco	1.33%		3.52%
		Transportation	1.22%		1.77%
		Energy	–		4.37%
		Utilities	–		3.00%
		Other	–	^	13.27%
			100.00%		100.00%


		^ Less than 0.005%

Top 10 Long-Term Holdings

(% of Fund’s 07/31/22 Net Assets)


Wells Fargo & Co.	Banks	8.35%
Berkshire Hathaway Inc., Class A	Diversified Financial Services	8.17%
Capital One Financial Corp.	Consumer Finance	6.85%
Alphabet Inc.*	Media & Entertainment	5.84%
Cigna Corp.	Health Care Equipment & Services	4.92%
U.S. Bancorp	Banks	4.87%
Applied Materials, Inc.	Semiconductors & Semiconductor Equipment	4.69%
DBS Group Holdings Ltd.	Banks	4.26%
Intel Corp.	Semiconductors & Semiconductor Equipment	3.94%
Texas Instruments Inc.	Semiconductors & Semiconductor Equipment	3.80%

*Alphabet Inc. holding includes Class A and Class C.

DAVIS NEW YORK VENTURE FUND	Fund Overview – (Continued)
	July 31, 2022

New Positions Added (08/01/21-07/31/22)

(Highlighted positions are those greater than 1.50% of the Fund’s 07/31/22 net assets)

Security	Industry	Date of 1^st Purchase	% of Fund’s 07/31/22 Net Assets
JD.com, Inc., Class A, ADR	Retailing	08/20/21	2.70%
Julius Baer Group Ltd.	Capital Markets	02/08/22	1.58%
Owens Corning	Capital Goods	04/05/22	1.47%
Samsung Electronics Co., Ltd.	Technology Hardware & Equipment	07/08/22	1.04%
Teck Resources Ltd., Class B	Materials	09/24/21	1.86%

Positions Closed (08/01/21-07/31/22)

(Gains and losses greater than $50,000,000 are highlighted)

Security	Industry	Date of Final Sale	Realized Gain (Loss)
Alibaba Group Holding Ltd., ADR	Retailing	07/08/22	$	(101,027,122)
Chengxin Technology, Inc., Series A-1, Pfd.*	Retailing	07/14/22		292
DNB Bank ASA	Banks	03/14/22		16,004,322
Missfresh Ltd., Class B, ADS	Food & Staples Retailing	05/31/22		(7,455,964)
Raytheon Technologies Corp.	Capital Goods	11/16/21		34,840,674
Vroom, Inc.	Retailing	05/10/22		(84,765,017)

*Includes Full Trillion Development Ltd., Class A, Pfd.

DAVIS NEW YORK VENTURE FUND

Expense Example

As a shareholder of the Fund, you incur two types of costs: (1) transaction costs, including sales charges (loads) on purchases and contingent deferred sales charges on redemptions; and (2) ongoing costs, including advisory and administrative fees, distribution and/or service (12b-1) fees, and other Fund expenses. The Expense Example is intended to help you understand your ongoing costs (in dollars) of investing in the Fund and to compare these costs with the ongoing costs of investing in other mutual funds. The Expense Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period indicated which for each class is for the six-month period ended July 31, 2022.

Actual Expenses

The information represented in the row entitled “Actual” provides information about actual account values and actual expenses. You may use the information in this row, together with the amount you invested, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply the result by the number under the heading “Expenses Paid During Period” to estimate the expenses you paid on your account during this period. An annual maintenance fee of $15, charged on retirement plan accounts per Social Security Number, is not included in the Expense Example. This fee will be waived for accounts sharing the same Social Security Number if the accounts total at least $50,000 at Davis Funds. If this fee was included, the estimate of expenses you paid during the period would be higher, and your ending account value would be lower, by this amount.

Hypothetical Example for Comparison Purposes

The information represented in the row entitled “Hypothetical” provides information about hypothetical account values and hypothetical expenses based on the Fund’s actual expense ratio and an assumed rate of return of 5% per year before expenses, which is not the Fund’s actual return. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period. You may use this information to compare the ongoing costs of investing in the Fund and other funds. To do so, compare this 5% hypothetical example with the 5% hypothetical examples that appear in the shareholder reports of the other funds. An annual maintenance fee of $15, charged on retirement plan accounts per Social Security Number, is not included in the Expense Example. This fee will be waived for accounts sharing the same Social Security Number if the accounts total at least $50,000 at Davis Funds. If this fee was included, the estimate of expenses you paid during the period would be higher, and your ending account value would be lower, by this amount.

Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transactional costs, such as front-end or contingent deferred sales charges (loads). Therefore, the information in the row entitled “Hypothetical” is useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds. In addition, if these transactional costs were included, your costs would be higher.

	Beginning	Ending	Expenses Paid
	Account Value	Account Value	During Period*
	(02/01/22)	(07/31/22)	(02/01/22-07/31/22)
Class A (annualized expense ratio 0.93%**)
Actual	$1,000.00	$841.37	$4.25
Hypothetical	$1,000.00	$1,020.18	$4.66
Class B (annualized expense ratio 1.75%**)
Actual	$1,000.00	$837.82	$7.97
Hypothetical	$1,000.00	$1,016.12	$8.75
Class C (annualized expense ratio 1.75%**)
Actual	$1,000.00	$837.77	$7.97
Hypothetical	$1,000.00	$1,016.12	$8.75
Class R (annualized expense ratio 1.06%**)
Actual	$1,000.00	$840.02	$4.84
Hypothetical	$1,000.00	$1,019.54	$5.31
Class Y (annualized expense ratio 0.68%**)
Actual	$1,000.00	$842.30	$3.11
Hypothetical	$1,000.00	$1,021.42	$3.41

Hypothetical assumes 5% annual return before expenses.

*Expenses are equal to each Class's annualized operating expense ratio, multiplied by the average account value over the period, multiplied by 181/365 (to reflect the one-half year period).

**The expense ratios reflect the impact, if any, of certain reimbursements from the Adviser.

DAVIS NEW YORK VENTURE FUND	Schedule of Investments
	July 31, 2022

						Shares/Units		Value (Note 1)
COMMON STOCK – (98.30%)
	COMMUNICATION SERVICES – (10.03%)
		Media & Entertainment – (10.03%)
				Alphabet Inc., Class A *			1,870,740	$	217,604,477
				Alphabet Inc., Class C *			1,251,840		146,014,618
				ASAC II L.P. *(a)(b)			4,156,451		4,071,244
				IAC Inc. *			794,280		54,408,180
				Liberty TripAdvisor Holdings, Inc., Series A *			169,396		116,002
				Meta Platforms, Inc., Class A *			1,221,717		194,375,175
				Vimeo, Inc. *			1,457,935		8,106,119
					Total Communication Services				624,695,815
	CONSUMER DISCRETIONARY – (8.73%)
		Retailing – (8.73%)
				Amazon.com, Inc. *			1,546,020		208,635,399
				Coupang, Inc., Class A (South Korea)*			3,346,187		57,855,573
				JD.com, Inc., Class A, ADR (China)			2,826,669		168,186,806
				Naspers Ltd. - N (South Africa)			75,589		10,679,698
				Prosus N.V., Class N (Netherlands)			1,499,041		97,789,923
					Total Consumer Discretionary				543,147,399
	CONSUMER STAPLES – (1.31%)
		Food, Beverage & Tobacco – (1.31%)
				Darling Ingredients Inc. *			1,174,379		81,360,977
					Total Consumer Staples				81,360,977
	FINANCIALS – (49.75%)
		Banks – (21.90%)
				Danske Bank A/S (Denmark)			7,584,377		106,062,187
				DBS Group Holdings Ltd. (Singapore)			11,627,695		265,324,775
				JPMorgan Chase & Co.			1,465,494		169,059,388
				U.S. Bancorp			6,418,850		302,969,720
				Wells Fargo & Co.			11,847,472		519,748,596
									1,363,164,666
		Diversified Financials – (20.51%)
			Capital Markets – (4.83%)
				Bank of New York Mellon Corp.			4,656,637		202,377,444
				Julius Baer Group Ltd. (Switzerland)			1,899,700		98,233,572
									300,611,016
			Consumer Finance – (7.51%)
				American Express Co.			264,931		40,804,673
				Capital One Financial Corp.			3,884,563		426,641,554
									467,446,227
			Diversified Financial Services – (8.17%)
				Berkshire Hathaway Inc., Class A *			1,127		509,065,900
									1,277,123,143
		Insurance – (7.34%)
			Life & Health Insurance – (4.42%)
				AIA Group Ltd. (Hong Kong)			12,659,990		127,190,407
				Ping An Insurance (Group) Co. of China, Ltd. - H (China)			25,140,800		147,753,451
									274,943,858

DAVIS NEW YORK VENTURE FUND	Schedule of Investments - (Continued)
	July 31, 2022

							Shares		Value (Note 1)
COMMON STOCK – (CONTINUED)
	FINANCIALS – (CONTINUED)
		Insurance – (Continued)
			Property & Casualty Insurance – (2.92%)
				Chubb Ltd.				606,740	$	114,455,433
				Loews Corp.				534,369		31,126,994
				Markel Corp. *				27,876		36,159,075
										181,741,502
										456,685,360
						Total Financials				3,096,973,169
	HEALTH CARE – (9.09%)
		Health Care Equipment & Services – (6.03%)
				Cigna Corp.				1,111,419		306,040,336
				Quest Diagnostics Inc.				508,730		69,477,256
										375,517,592
		Pharmaceuticals, Biotechnology & Life Sciences – (3.06%)
				Viatris Inc.				19,664,700		190,550,943
						Total Health Care				566,068,535
	INDUSTRIALS – (2.74%)
		Capital Goods – (1.54%)
				Orascom Construction PLC (United Arab Emirates)				1,446,001		4,434,301
				Owens Corning				986,421		91,480,683
										95,914,984
		Commercial & Professional Services – (0.01%)
				China Index Holdings Ltd., Class A, ADR (China)*				450,209		291,105
		Transportation – (1.19%)
				DiDi Global Inc., Class A, ADS (China)*				25,989,288		74,329,364
						Total Industrials				170,535,453
	INFORMATION TECHNOLOGY – (13.47%)
		Semiconductors & Semiconductor Equipment – (12.43%)
				Applied Materials, Inc.				2,756,220		292,104,196
				Intel Corp.				6,762,900		245,560,899
				Texas Instruments Inc.				1,320,910		236,297,590
										773,962,685
		Technology Hardware & Equipment – (1.04%)
				Samsung Electronics Co., Ltd. (South Korea)				1,361,450		64,444,428
						Total Information Technology				838,407,113
	MATERIALS – (3.18%)
				OCI N.V. (Netherlands)				2,357,564		81,846,695
				Teck Resources Ltd., Class B (Canada)				3,947,622		116,020,611
						Total Materials				197,867,306
					TOTAL COMMON STOCK – (Identified cost $4,199,405,849)					6,119,055,767

DAVIS NEW YORK VENTURE FUND	Schedule of Investments - (Continued)
	July 31, 2022

Principal

Value
(Note 1)

SHORT-TERM INVESTMENTS – (1.74%)

StoneX Financial Inc. Joint Repurchase Agreement, 2.25%, 08/01/22,

dated 07/29/22, repurchase value of $66,150,401 (collateralized by: U.S.

Government agency mortgages and obligations in a pooled cash

account, 0.00%-7.00%, 08/15/22-07/20/52, total market value

$67,460,760)

66,138,000

Truist Securities, Inc. Joint Repurchase Agreement, 2.25%, 08/01/22,

dated 07/29/22, repurchase value of $42,313,932 (collateralized by: U.S.

Government agency mortgages in a pooled cash account, 3.00%-3.50%,

06/01/34-04/01/50, total market value $43,152,120)

42,306,000

TOTAL SHORT-TERM INVESTMENTS – (Identified cost $108,444,000)

108,444,000

Total Investments – (100.04%) – (Identified cost $4,307,849,849)

6,227,499,767

Liabilities Less Other Assets – (0.04%)

(2,396,313)

Net Assets – (100.00%)

6,225,103,454

ADR: American Depositary Receipt

ADS: American Depositary Share

Non-income producing security.

(a)

Restricted Security – See Note 6 of the Notes to Financial Statements.

(b)

The value of this security was determined using significant unobservable inputs. See Note 1 of the Notes to Financial Statements.

See Notes to Financial Statements

DAVIS NEW YORK VENTURE FUND	Statement of Assets and Liabilities
	At July 31, 2022

ASSETS:
Investments in securities, at value* (see accompanying Schedule of Investments)			$	6,227,499,767
Cash				421
Receivables:
	Capital stock sold			2,750,896
	Dividends and interest			6,309,402
Prepaid expenses				67,847
Due from Adviser				2,831
		Total assets		6,236,631,164
LIABILITIES:
Payables:
	Capital stock redeemed			5,985,785
Accrued custodian fees				680,797
Accrued distribution and service plan fees				859,224
Accrued investment advisory fees				2,838,963
Accrued transfer agent fees				999,891
Other accrued expenses				163,050
		Total liabilities		11,527,710
NET ASSETS			$	6,225,103,454
NET ASSETS CONSIST OF:
Par value of shares of capital stock			$	13,404,632
Additional paid-in capital				4,235,206,280
Distributable earnings				1,976,492,542
		Net Assets	$	6,225,103,454

*Including:
	Cost of investments		$	4,307,849,849

DAVIS NEW YORK VENTURE FUND	Statement of Assets and Liabilities – (Continued)
	At July 31, 2022

CLASS A SHARES:
Net assets	$	4,313,193,031
Shares outstanding		186,890,205
Net asset value and redemption price per share (Net assets ÷ Shares outstanding)	$	23.08
Maximum offering price per share (100/95.25 of $23.08)†	$	24.23
CLASS B SHARES:
Net assets	$	5,957,217
Shares outstanding		331,043
Net asset value and redemption price per share (Net assets ÷ Shares outstanding)	$	18.00
CLASS C SHARES:
Net assets	$	111,676,573
Shares outstanding		5,853,451
Net asset value, offering, and redemption price per share (Net assets ÷ Shares outstanding)	$	19.08
CLASS R SHARES:
Net assets	$	55,519,943
Shares outstanding		2,398,211
Net asset value, offering, and redemption price per share (Net assets ÷ Shares outstanding)	$	23.15
CLASS Y SHARES:
Net assets	$	1,738,756,690
Shares outstanding		72,619,721
Net asset value, offering, and redemption price per share (Net assets ÷ Shares outstanding)	$	23.94

†On purchases of $100,000 or more, the offering price is reduced.

See Notes to Financial Statements

DAVIS NEW YORK VENTURE FUND	Statement of Operations
	For the year ended July 31, 2022

INVESTMENT INCOME:
Income:
Dividends*					$	132,802,597
Interest						320,606
Net securities lending fees						294,130
		Total income				133,417,333
Expenses:
Investment advisory fees (Note 3)			$	40,779,751
Custodian fees				2,776,121
Transfer agent fees:
		Class A		4,757,392
		Class B		41,819
		Class C		203,980
		Class R		70,678
		Class Y		1,606,768
Audit fees				104,608
Legal fees				48,420
Accounting fees (Note 3)				344,004
Reports to shareholders				361,052
Directors’ fees and expenses				391,337
Registration and filing fees				104,999
Miscellaneous				348,120
Distribution and service plan fees (Note 3):
		Class A		12,056,035
		Class B		84,106
		Class C		1,501,724
		Class R		292,933
Total expenses						65,873,847
Reimbursement of expenses by Adviser (Note 3):
		Class B				(26,736)
		Net expenses				65,847,111
Net investment income						67,570,222
REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS AND FOREIGN CURRENCY TRANSACTIONS:
Net realized gain from:
	Investment transactions					466,399,654
	Foreign currency transactions					52,409
Net realized gain						466,452,063
Net decrease in unrealized appreciation						(1,960,857,819)
		Net realized and unrealized loss on investments and foreign currency transactions				(1,494,405,756)
Net decrease in net assets resulting from operations					$	(1,426,835,534)

*Net of foreign taxes withheld of					$	3,299,160

See Notes to Financial Statements

DAVIS NEW YORK VENTURE FUND

Statements of Changes in Net Assets

		Year ended July 31,
		2022		2021
OPERATIONS:
Net investment income		$	67,570,222	$	22,677,377
Net realized gain from investments and foreign currency transactions			466,452,063		1,795,905,217
Net increase (decrease) in unrealized appreciation on investments and foreign currency transactions			(1,960,857,819)		994,551,293
	Net increase (decrease) in net assets resulting from operations		(1,426,835,534)		2,813,133,887
DIVIDENDS AND DISTRIBUTIONS TO SHAREHOLDERS:
	Class A		(829,100,452)		(795,737,791)
	Class B		(1,643,309)		(1,933,848)
	Class C		(27,108,482)		(30,340,597)
	Class R		(10,502,959)		(10,684,203)
	Class Y		(338,263,099)		(328,399,861)
CAPITAL SHARE TRANSACTIONS:
Net increase (decrease) in net assets resulting from capital share transactions (Note 4):
	Class A		146,352,927		(178,971,335)
	Class B		(2,015,943)		(3,781,263)
	Class C		(18,711,639)		(81,671,565)
	Class R		(705,973)		(15,104,139)
	Class Y		(27,319,903)		(12,616,258)
	Total increase (decrease) in net assets		(2,535,854,366)		1,353,893,027
NET ASSETS:
Beginning of year			8,760,957,820		7,407,064,793
End of year		$	6,225,103,454	$	8,760,957,820

See Notes to Financial Statements

DAVIS NEW YORK VENTURE FUND	Notes to Financial Statements
	July 31, 2022

NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

The Fund is a separate series of Davis New York Venture Fund, Inc. (a Maryland corporation). The Fund is registered under the Investment Company Act of 1940, as amended, as a diversified, open-end management investment company. The Fund follows the reporting guidance of the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification Topic 946, Financial Services – Investment Companies. The Fund’s investment objective is long-term growth of capital. The Fund offers shares in four classes, Class A, Class C, Class R, and Class Y. Class B shares are no longer offered for new purchases. New Class B share account applications will be returned and any investments for existing Class B share accounts will be made in Class A shares of Davis Government Money Market Fund. Class A shares are sold with a front-end sales charge. Class C shares are sold and Class B shares were sold at net asset value and both may be subject to a contingent deferred sales charge upon redemption. Class B shares automatically convert to Class A shares after 7 years. Class C shares automatically convert to Class A shares after 8 years (effective May 1, 2021). Any existing Class C shares held longer than 8 years as of May 1, 2021 converted in May 2021. Class R and Class Y shares are sold at net asset value and are not subject to any contingent deferred sales charge upon redemption. Class R shares generally are available only to retirement and benefit plans. Class Y shares are only available to certain qualified investors. Income, expenses (other than those attributable to a specific class), and gains and losses are allocated daily to each class based upon the relative proportion of net assets represented by each class. Operating expenses directly attributable to a specific class, such as distribution and transfer agent fees, are charged against the operations of that class. All classes have identical rights with respect to voting (exclusive of each class’ distribution arrangement), liquidation, and distributions. The COVID-19 pandemic has caused market disruptions on a global scale and the long-term impact is uncertain. The aforementioned disruptions may adversely affect the value and liquidity of the Fund’s investments and thus Fund performance. The following is a summary of significant accounting policies followed by the Fund in the preparation of its financial statements.

Security Valuation - The Fund calculates the net asset value of its shares as of the close of the New York Stock Exchange (“Exchange”), normally 4:00 P.M. Eastern time, on each day the Exchange is open for business. Securities listed on the Exchange (and other national exchanges including NASDAQ) are valued at the last reported sales price on the day of valuation. Listed securities for which no sale was reported on that date are valued at the last quoted bid price. Securities traded on foreign exchanges are valued based upon the last sales price on the principal exchange on which the security is traded prior to the time when the Fund’s assets are valued. Securities (including restricted securities) for which market quotations are not readily available or securities whose values have been materially affected by what Davis Selected Advisers, L.P. (“Davis Advisors” or “Adviser”), the Fund’s investment adviser, identifies as a significant event occurring before the Fund’s assets are valued, but after the close of their respective exchanges will be fair valued using a fair valuation methodology applicable to the security type or the significant event as previously approved by the Fund’s Pricing Committee and Board of Directors. The Pricing Committee considers all facts it deems relevant that are reasonably available, through either public information or information available to the Adviser’s portfolio management team, when determining the fair value of a security. To assess the appropriateness of security valuations, the Adviser may consider (i) comparing prior day prices and/or prices of comparable securities; (ii) comparing sale prices to the prior or current day prices and challenge those prices exceeding certain tolerance levels with the third-party pricing service or broker source; (iii) new rounds of financing; (iv) the performance of the market or the issuer’s industry; (v) the liquidity of the security; (vi) the size of the holding in a fund; and/or (vii) any other appropriate information. The determination of a security’s fair value price often involves the consideration of a number of subjective factors and is therefore subject to the unavoidable risk that the value assigned to a security may be higher or lower than the security’s value would be if a reliable market quotation for the security was readily available. Fair value determinations are subject to review, approval, and ratification by the Fund’s Board of Directors at its next regularly scheduled meeting covering the period in which the fair valuation was determined. Fair valuation methods used by the Fund may include, but are not limited to, valuing securities initially at cost (excluding commissions) and subsequently adjusting the value due to: additional transactions by the issuer, changes in company specific fundamentals and changes in the value of similar securities. Values may be further adjusted for any discounts related to security-specific resale restrictions.

Short-term investments purchased within 60 days to maturity are valued at amortized cost, which approximates market value.

The Fund’s valuation procedures are reviewed and subject to approval by the Board of Directors. There have been no significant changes to the fair valuation procedures during the period.

DAVIS NEW YORK VENTURE FUND	Notes to Financial Statements – (Continued)
	July 31, 2022

NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES – (CONTINUED)

Fair Value Measurements - Fair value is defined as the price that the Fund would receive upon selling an investment in an orderly transaction to an independent buyer in the principal market for the investment. Various inputs are used to determine the fair value of the Fund’s investments. These inputs are summarized in the three broad levels listed below.

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)

The inputs or methodologies used for valuing securities are not necessarily an indication of the risks associated with investing in those securities nor can it be assured that the Fund can obtain the fair value assigned to a security if it were to sell the security.

The following is a summary of the inputs used as of July 31, 2022 in valuing the Fund’s investments carried at value:

	Investments in Securities at Value
	Valuation Inputs
			Level 2:		Level 3:
			Other Significant		Significant
	Level 1:		Observable		Unobservable
	Quoted Prices		Inputs*		Inputs		Total
Common Stock:
Communication Services	$	620,624,571	$	–	$	4,071,244	$	624,695,815
Consumer Discretionary		434,677,778		108,469,621		–		543,147,399
Consumer Staples		81,360,977		–		–		81,360,977
Financials		2,352,408,777		744,564,392		–		3,096,973,169
Health Care		566,068,535		–		–		566,068,535
Industrials		170,535,453		–		–		170,535,453
Information Technology		773,962,685		64,444,428		–		838,407,113
Materials		116,020,611		81,846,695		–		197,867,306
Short-Term Investments		–		108,444,000		–		108,444,000
Total Investments	$	5,115,659,387	$	1,107,769,136	$	4,071,244	$	6,227,499,767

*Includes certain securities trading primarily outside the U.S. whose value the Fund adjusted as a result of significant market movements following the close of local trading.

DAVIS NEW YORK VENTURE FUND	Notes to Financial Statements – (Continued)
	July 31, 2022

NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES – (CONTINUED)

Fair Value Measurements - (Continued)

The following table reconciles the valuation of assets in which significant unobservable inputs (Level 3) were used in determining fair value during the year ended July 31, 2022. The net change in unrealized appreciation (depreciation) during the period on Level 3 securities still held at July 31, 2022 was $(177,480). The cost of purchases or proceeds from sales may include securities received or delivered through corporate actions or exchanges. Realized and unrealized gains (losses) are included in the related amounts on investments in the Statement of Operations.

	Beginning Balance at August 1, 2021		Cost of Purchases		Proceeds from Sales		Net Change in Unrealized Appreciation (Depreciation)		Net Realized Gain (Loss)		Transfers into Level 3		Transfers out of Level 3			Ending Balance at July 31, 2022
Investments in Securities:
Common Stock	$	4,248,724	$	–	$	–	$	(177,480)	$	–	$	–	$	–	$	4,071,244
Preferred Stock		81,500,000		–		(81,500,292)		–		292		–		–		–
Total Level 3	$	85,748,724	$	–	$	(81,500,292)	$	(177,480)	$	292	$	–	$	–	$	4,071,244

The following table is a summary of those assets in which significant unobservable inputs (Level 3) were used by the Adviser in determining fair value. Note that these amounts exclude any valuations provided by a pricing service or broker.

	Fair Value at		Valuation	Unobservable		Impact to Valuation from
	July 31, 2022		Technique	Input	Amount	an Increase in Input
Investments in Securities:
Common Stock	$	4,071,244	Discounted Cash Flow	Annualized Yield	3.704%	Decrease
Total Level 3	$	4,071,244

The significant unobservable input listed in the above table is used in the fair value measurement of common stock, and if changed, would affect the fair value of the Fund’s investments. The “Impact to Valuation from an Increase in Input” represents the change in fair value measurement resulting from an increase in the corresponding input. A decrease in the input would have the opposite effect.

Master Repurchase Agreements - The Fund, along with other affiliated funds, may transfer uninvested cash balances into one or more master repurchase agreement accounts. These balances are invested in one or more repurchase agreements, secured by U.S. Government securities. A custodian bank holds securities pledged as collateral for repurchase agreements until the agreements mature. Each agreement requires that the market value of the collateral be sufficient to cover payments of interest and principal; however, in the event of default by the other party to the agreement, retention of the collateral may be subject to legal proceedings.

DAVIS NEW YORK VENTURE FUND	Notes to Financial Statements – (Continued)
	July 31, 2022

NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES – (CONTINUED)

Currency Translation - The market values of all assets and liabilities denominated in foreign currencies are recorded in the financial statements after translation to United States Dollar (“USD”) on the date of valuation using exchange rates determined as of the close of trading on the Exchange. The cost basis of such assets and liabilities is determined based upon historical exchange rates. Income and expenses are translated at average exchange rates in effect as accrued or incurred.

Foreign Currency - The Fund may enter into forward purchases or sales of foreign currencies to hedge certain foreign currency denominated assets and liabilities against declines in market value relative to USD. Forward currency contracts are marked-to-market daily and the change in market value is recorded by the Fund as an unrealized gain or loss. When the forward currency contract is closed, the Fund records a realized gain or loss equal to the difference between the value of the forward currency contract at the time it was opened and value at the time it was closed. Investments in forward currency contracts may expose the Fund to risks resulting from unanticipated movements in foreign currency exchange rates or failure of the counter-party to the agreement to perform in accordance with the terms of the contract. There were no forward contracts entered into by the Fund.

Reported net realized foreign exchange gains or losses arise from the sales of foreign currencies, currency gains or losses realized between the trade and settlement dates on security transactions, the difference between the amounts of dividends, interest, and foreign withholding taxes recorded on the Fund’s books, and the USD equivalent of the amounts actually received or paid. Net unrealized foreign exchange gains or losses arise from changes in the value of assets and liabilities, other than investments in securities at fiscal period end, resulting from changes in the exchange rate. The Fund includes foreign currency gains and losses realized on the sales of investments together with market gains and losses on such investments in the Statement of Operations.

Federal Income Taxes - It is the Fund’s policy to comply with the requirements of the Internal Revenue Code applicable to regulated investment companies, and to distribute substantially all of its taxable income, including any net realized gains on investments not offset by loss carryovers, to shareholders. Therefore, no provision for federal income or excise tax is required. The Adviser analyzed the Fund’s tax positions taken on federal and state income tax returns for all open tax years and concluded that as of July 31, 2022, no provision for income tax is required in the Fund’s financial statements related to these tax positions. The Fund’s federal and state (Arizona) income and federal excise tax returns for tax years for which the applicable statutes of limitations have not expired are subject to examination by the Internal Revenue Service and state Department of Revenue. The earliest tax year that remains subject to examination by these jurisdictions is 2019.

At July 31, 2022, the aggregate cost of investments and unrealized appreciation (depreciation) for federal income tax purposes were as follows:

Cost	$	4,331,816,930
Unrealized appreciation		2,519,045,663
Unrealized depreciation		(623,362,826)
Net unrealized appreciation	$	1,895,682,837

Securities Transactions and Related Investment Income - Securities transactions are accounted for on the trade date (date the order to buy or sell is executed) with realized gain or loss on the sale of securities being determined based upon identified cost. Dividend income is recorded on the ex-dividend date. Interest income, which includes accretion of discount and amortization of premium, is accrued as earned.

DAVIS NEW YORK VENTURE FUND	Notes to Financial Statements – (Continued)
	July 31, 2022

NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES – (CONTINUED)

Dividends and Distributions to Shareholders - Dividends and distributions to shareholders are recorded on the ex-dividend date. Net investment income (loss), net realized gains (losses), and net unrealized appreciation (depreciation) on investments [collectively "Distributable earnings (losses)"] may differ for financial statement and tax purposes primarily due to permanent and temporary differences which may include foreign currency transactions, wash sales, partnership income, corporate actions, passive foreign investment company shares, deferred post-October losses, and equalization. The character of dividends and distributions made during the fiscal year from net investment income and net realized securities gains may differ from their ultimate characterization for federal income tax purposes. Also, due to the timing of dividends and distributions, the fiscal year in which amounts are distributed may differ from the fiscal year in which income or realized gain was recorded by the Fund. The Fund adjusts certain components of capital to reflect permanent differences between financial statement amounts and net income and realized gains/losses determined in accordance with income tax rules. The Fund’s net assets have not been affected by these reclassifications. During the year ended July 31, 2022, amounts have been reclassified to reflect increases (decreases) as follows:

Distributable earnings	$	(25,643,384)
Paid-in capital		25,643,384

The tax character of distributions paid during the years ended July 31, 2022 and 2021 was as follows:

	2022		2021
Ordinary income	$	59,999,786	$	59,134,284
Long-term capital gain		1,146,618,515		1,107,962,016
Total	$	1,206,618,301	$	1,167,096,300

As of July 31, 2022, the components of distributable earnings on a tax basis were as follows:

Undistributed ordinary income	$	9,729,570
Undistributed long-term capital gain		72,013,375
Net unrealized appreciation on investments and foreign currency transactions		1,895,615,226
Other temporary differences		(865,629)
Total	$	1,976,492,542

Indemnification - Under the Fund’s organizational documents, its officers and directors are indemnified against certain liabilities arising out of the performance of their duties to the Fund. In addition, some of the Fund’s contracts with its service providers contain general indemnification clauses. The Fund’s maximum exposure under these arrangements is unknown since the amount of any future claims that may be made against the Fund cannot be determined and the Fund has no historical basis for predicting the likelihood of any such claims.

Use of Estimates in Financial Statements - In preparing financial statements in conformity with accounting principles generally accepted in the United States of America, management makes estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements, as well as the reported amounts of income and expenses during the reporting period. Actual results may differ from these estimates.

Directors Fees and Expenses - The Fund set up a Rabbi Trust to provide for the deferred compensation plan for Independent Directors that enables them to elect to defer receipt of all or a portion of annual fees they are entitled to receive. The value of an eligible Director’s account is based upon years of service and fees paid to each Director during the years of service. The amount paid to the Director by the Trust under the plan will be determined based upon the performance of the Davis Funds in which the amounts are invested.

DAVIS NEW YORK VENTURE FUND	Notes to Financial Statements – (Continued)
	July 31, 2022

NOTE 2 - PURCHASES AND SALES OF SECURITIES

The cost of purchases and proceeds from sales of investment securities (excluding short-term investments) during the year ended July 31, 2022 were $1,271,490,731 and $1,842,919,871, respectively.

NOTE 3 - FEES AND OTHER TRANSACTIONS WITH SERVICE PROVIDERS (INCLUDING AFFILIATES)

Davis Selected Advisers-NY, Inc. (“DSA-NY”), a wholly-owned subsidiary of the Adviser, acts as sub-adviser to the Fund. DSA-NY performs research and portfolio management services for the Fund under a Sub-Advisory Agreement with the Adviser. The Fund pays no fees directly to DSA-NY.

All officers of the Fund (including Interested Directors) hold positions as executive officers with the Adviser or its affiliates.

Investment Advisory Fees and Reimbursement of Expenses - Advisory fees are paid monthly to the Adviser. The annual rate is 0.55% of the average net assets on the first $3 billion, 0.54% on the next $1 billion, 0.53% on the next $1 billion, 0.52% on the next $1 billion, 0.51% on the next $1 billion, 0.50% on the next $3 billion, 0.485% on the next $8 billion, 0.47% on the next $7 billion, 0.455% on the next $8 billion, 0.44% on the next $7 billion, 0.425% on the next $8 billion, 0.41% on the next $7 billion, and 0.395% of the average net assets in excess of $55 billion. Advisory fees paid during the year ended July 31, 2022 approximated 0.53% of the average net assets. 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 (Class A shares, 1.00%; Class B shares, 1.75%; Class C shares, 1.75%; Class R shares, 1.25%; and Class Y shares, 0.75%). The Adviser is obligated to continue the expense cap through December 1, 2022. The expense cap cannot be modified prior to this date without the consent of the Board of Directors. After that date, there is no assurance that the Adviser will continue to cap expenses. The Adviser may not recoup any of the operating expenses it has reimbursed to the Fund. During the year ended July 31, 2022, such reimbursements for Class B shares amounted to $26,736.

Transfer Agent and Accounting Fees - DST Asset Manager Solutions, Inc. is the Fund’s primary transfer agent. The Adviser is also paid for certain transfer agent services. The fee paid to the Adviser for these services during the year ended July 31, 2022 amounted to $802,800. State Street Bank and Trust Company (“State Street Bank”) is the Fund’s primary accounting provider. Fees for such services are included in the custodian fees as State Street Bank also serves as the Fund’s custodian. The Adviser is also paid for certain accounting services. The fee paid to the Adviser for these services during the year ended July 31, 2022 amounted to $344,004.

Distribution and Service Plan Fees - The Fund has adopted separate Distribution Plans (“12b-1 Plans”) for Class A, Class B, Class C, and Class R shares. Under the 12b-1 Plans, the Fund reimburses Davis Distributors, LLC (“Distributor”), the Fund’s Underwriter, for amounts paid to dealers as a service fee or commissions with respect to Class A shares sold by dealers, which remain outstanding during the period. The service fee is paid at an annual rate up to 0.25% of the average net assets maintained by the responsible dealers. The Fund pays the Distributor 12b-1 fees on Class B and Class C shares at an annual rate equal to the lesser of 1.25% of the average daily net asset value of Class B or Class C shares or the maximum amount provided by applicable rule or regulation of the Financial Industry Regulatory Authority, Inc. (“FINRA”), which currently is 1.00%. The Fund pays the 12b-1 fees on Class B and Class C shares in order: (i) to pay the Distributor distribution fees or commissions on Class B and Class C shares which have been sold and (ii) to enable the Distributor to pay service fees on Class B and Class C shares which have been sold. Payments under the Class R 12b-1 Plan are limited to an annual rate of 0.75% of the average daily net asset value of the Class R shares or the maximum amount provided by applicable rule or regulation of the FINRA (1.00%). The effective rate of the Class R 12b-1 Plan is currently 0.50%, of which 0.25% may be used to pay distribution fees and 0.25% may be used to pay service fees.

	Year ended July 31, 2022
	Class A		Class B		Class C		Class R
Distribution fees	$	–	$	64,179	$	1,126,293	$	146,467
Service fees		12,056,035		19,927		375,431		146,466

Sales Charges - Front-end sales charges and contingent deferred sales charges (“CDSC”) do not represent expenses of the Fund. They are deducted from the proceeds from sales of Fund shares prior to investment or from redemption proceeds prior to remittance, as applicable.

DAVIS NEW YORK VENTURE FUND	Notes to Financial Statements – (Continued)
	July 31, 2022

NOTE 3 - FEES AND OTHER TRANSACTIONS WITH SERVICE PROVIDERS (INCLUDING AFFILIATES) –(CONTINUED)

Sales Charges - (Continued)

Class A shares of the Fund are sold at net asset value plus a sales charge and are redeemed at net asset value. On purchases of $1 million or more, the sales charge will not be applied; however a CDSC of 0.50% may be imposed upon redemption if those shares are redeemed within the first year of purchase.

Class B shares are no longer offered for new purchases. Class B shares of the Fund are redeemed at net asset value. A CDSC is imposed upon redemption of certain Class B shares within six years of the original purchase. The charge is a declining percentage starting at 4.00% of the lesser of net asset value of the shares redeemed or the total cost of such shares.

Class C shares of the Fund are sold and redeemed at net asset value. A CDSC of 1.00% is imposed upon redemption of certain Class C shares within the first year of the original purchase.

The Distributor received commissions earned on sales of Class A shares of the Fund, of which a portion was retained by the Distributor and the remaining was re-allowed to investment dealers. Commission advances by the Distributor on the sales of Class C shares of the Fund are re-allowed to qualified selling dealers.

Year ended July 31, 2022
Class A Commissions				Commission advances by the Distributor on the sale of		CDSCs received by the Distributor from
Retained		Re-allowed to
by Distributor		investment dealers		Class C		Class B		Class C
$	109,755	$	599,356	$	115,401	$	7,071	$	11,003

NOTE 4 - CAPITAL STOCK

At July 31, 2022, there were 3.5 billion shares of capital stock ($0.05 par value per share) authorized for Davis New York Venture Fund, Inc., of which 2.325 billion shares are classified as Davis New York Venture Fund. Class B Shares are no longer offered for new purchases. Transactions in capital stock were as follows:

	Year ended July 31, 2022
		Sold			Reinvestment of Distributions		Redeemed			Net Increase (Decrease)
Shares: Class A		5,036,807	^		28,999,935		(27,404,544)			6,632,198
Class B		–			73,373		(156,919)			(83,546)
Class C		643,460			1,174,958		(2,518,941)	^		(700,523)
Class R		179,304			388,147		(563,673)			3,778
Class Y		9,454,818			11,228,305		(21,305,464)			(622,341)
Value: Class A	$	147,620,753	^	$	781,196,518	$	(782,464,344)		$	146,352,927
Class B		–			1,577,023		(3,592,966)			(2,015,943)
Class C		15,383,323			26,638,604		(60,733,566)	^		(18,711,639)
Class R		4,977,731			10,499,888		(16,183,592)			(705,973)
Class Y		284,042,747			313,707,934		(625,070,584)			(27,319,903)

	Year ended July 31, 2021
		Sold			Reinvestment of Distributions		Redeemed			Net Decrease
Shares: Class A		6,355,713	^		22,930,878		(35,146,619)	*		(5,860,028)
Class B		–			68,382		(207,952)			(139,570)
Class C		695,150			1,066,030		(4,638,287)	^		(2,877,107)
Class R		212,533			326,597		(1,029,541)			(490,411)
Class Y		9,134,713	*		8,981,694		(18,904,833)			(788,426)
Value: Class A	$	211,117,292	^	$	747,976,109	$	(1,138,064,736)	*	$	(178,971,335)
Class B		–			1,832,508		(5,613,771)			(3,781,263)
Class C		20,027,869			29,872,425		(131,571,859)	^		(81,671,565)
Class R		7,089,812			10,681,215		(32,875,166)			(15,104,139)
Class Y		314,462,200	*		302,357,035		(629,435,493)			(12,616,258)

^ Includes Class C to Class A conversions as disclosed in Note 1 of the Notes to Financial Statements.
* Includes Class A to Class Y conversions authorized under certain eligibility requirements.

DAVIS NEW YORK VENTURE FUND	Notes to Financial Statements – (Continued)
	July 31, 2022

NOTE 5 - SECURITIES LOANED

The Fund has entered into a securities lending arrangement with State Street Bank. Under the terms of the agreement, the Fund receives fee income from lending transactions; in exchange for such fees, State Street Bank is authorized to loan securities on behalf of the Fund, against receipt of collateral at least equal to the value of the securities loaned. As of July 31, 2022, the Fund did not have any securities on loan. The Fund bears the risk of any deficiency in the amount of the collateral available for return to a borrower due to a loss in an approved investment.

NOTE 6 - RESTRICTED SECURITIES

Restricted securities are not registered under the Securities Act of 1933 and may have contractual restrictions on resale. They are fair valued under methods approved by the Board of Directors. The aggregate value of restricted securities amounted to $4,071,244 or 0.07% of the Fund’s net assets as of July 31, 2022. Information regarding restricted securities is as follows:

Security		Initial Acquisition Date		Units		Cost per Unit			Valuation per Unit as of July 31, 2022
ASAC II L.P.		10/10/13		4,156,451		$	1.00		$	0.9795

DAVIS NEW YORK VENTURE FUND

The following financial information represents selected data for each share of capital stock outstanding throughout each period:

		Income (Loss) from Investment Operations
	Net Asset Value, Beginning of Period	Net Investment Income (Loss)^a	Net Realized and Unrealized Gains (Losses)	Total from Investment Operations
Davis New York Venture Fund Class A:
Year ended July 31, 2022	$33.16	$0.24	$(5.60)	$(5.36)
Year ended July 31, 2021	$27.04	$0.07	$10.68	$10.75
Year ended July 31, 2020	$28.16	$0.14	$(0.29)	$(0.15)
Year ended July 31, 2019	$32.59	$0.20	$(0.91)	$(0.71)
Year ended July 31, 2018	$32.64	$0.18	$4.85	$5.03
Davis New York Venture Fund Class B:
Year ended July 31, 2022	$27.00	$(0.01)	$(4.42)	$(4.43)
Year ended July 31, 2021	$22.69	$(0.17)	$8.93	$8.76
Year ended July 31, 2020	$23.84	$(0.09)	$(0.25)	$(0.34)
Year ended July 31, 2019	$28.30	$(0.08)	$(0.83)	$(0.91)
Year ended July 31, 2018	$29.06	$(0.14)	$4.29	$4.15
Davis New York Venture Fund Class C:
Year ended July 31, 2022	$28.33	$–^e	$(4.67)	$(4.67)
Year ended July 31, 2021	$23.64	$(0.17)	$9.31	$9.14
Year ended July 31, 2020	$24.80	$(0.06)	$(0.26)	$(0.32)
Year ended July 31, 2019	$29.27	$(0.03)	$(0.86)	$(0.89)
Year ended July 31, 2018	$29.85	$(0.08)	$4.42	$4.34
Davis New York Venture Fund Class R:
Year ended July 31, 2022	$33.24	$0.18	$(5.61)	$(5.43)
Year ended July 31, 2021	$27.10	$(0.02)	$10.70	$10.68
Year ended July 31, 2020	$28.26	$0.07	$(0.30)	$(0.23)
Year ended July 31, 2019	$32.71	$0.12	$(0.91)	$(0.79)
Year ended July 31, 2018	$32.76	$0.08	$4.87	$4.95
Davis New York Venture Fund Class Y:
Year ended July 31, 2022	$34.23	$0.32	$(5.80)	$(5.48)
Year ended July 31, 2021	$27.83	$0.16	$10.99	$11.15
Year ended July 31, 2020	$28.93	$0.22	$(0.30)	$(0.08)
Year ended July 31, 2019	$33.39	$0.28	$(0.93)	$(0.65)
Year ended July 31, 2018	$33.32	$0.27	$4.97	$5.24

^a	Per share calculations were based on average shares outstanding for the period.

^b	Assumes hypothetical initial investment on the business day before the first day of the fiscal period, with all dividends and distributions reinvested in additional shares on the reinvestment date, and redemption at the net asset value calculated on the last business day of the fiscal period. Sales charges are not reflected in the total returns.

^c	The ratios in this column reflect the impact, if any, of certain reimbursements.

Financial Highlights

Dividends and Distributions							Ratios to Average Net Assets
Dividends from Net Investment Income	Distributions from Realized Gains	Return of Capital	Total Distributions	Net Asset Value, End of Period	Total Return^b	Net Assets, End of Period (in millions)	Gross Expense Ratio	Net Expense Ratio^c	Net Investment Income (Loss) Ratio	Portfolio Turnover^d

$(0.21)	$(4.51)	$–	$(4.72)	$23.08	(17.77)%	$4,313	0.91%	0.91%	0.83%	17%
$(0.18)	$(4.45)	$–	$(4.63)	$33.16	40.63%	$5,977	0.89%	0.89%	0.22%	17%
$(0.28)	$(0.69)	$–	$(0.97)	$27.04	(0.79)%	$5,033	0.90%	0.90%	0.53%	11%
$(0.19)	$(3.53)	$–	$(3.72)	$28.16	(0.95)%	$5,965	0.89%	0.89%	0.70%	17%
$(0.17)	$(4.91)	$–	$(5.08)	$32.59	16.26%	$7,308	0.88%	0.88%	0.53%	25%

$(0.06)	$(4.51)	$–	$(4.57)	$18.00	(18.47)%	$6	2.06%	1.75%	(0.01)%	17%
$–	$(4.45)	$–	$(4.45)	$27.00	39.42%	$11	1.96%	1.75%	(0.64)%	17%
$(0.12)	$(0.69)	$–	$(0.81)	$22.69	(1.69)%	$13	1.99%	1.80%	(0.37)%	11%
$(0.02)	$(3.53)	$–	$(3.55)	$23.84	(1.90)%	$18	1.92%	1.92%	(0.33)%	17%
$–	$(4.91)	$–	$(4.91)	$28.30	15.17%	$27	1.86%	1.86%	(0.45)%	25%

$(0.07)	$(4.51)	$–	$(4.58)	$19.08	(18.45)%	$112	1.73%	1.73%	0.01%	17%
$–	$(4.45)	$–	$(4.45)	$28.33	39.49%	$186	1.71%	1.71%	(0.60)%	17%
$(0.15)	$(0.69)	$–	$(0.84)	$23.64	(1.57)%	$223	1.70%	1.70%	(0.27)%	11%
$(0.05)	$(3.53)	$–	$(3.58)	$24.80	(1.75)%	$407	1.68%	1.68%	(0.09)%	17%
$(0.01)	$(4.91)	$–	$(4.92)	$29.27	15.40%	$636	1.65%	1.65%	(0.24)%	25%

$(0.15)	$(4.51)	$–	$(4.66)	$23.15	(18.02)%	$56	1.12%	1.12%	0.62%	17%
$(0.09)	$(4.45)	$–	$(4.54)	$33.24	40.20%	$80	1.19%	1.19%	(0.08)%	17%
$(0.24)	$(0.69)	$–	$(0.93)	$27.10	(1.06)%	$78	1.18%	1.18%	0.25%	11%
$(0.13)	$(3.53)	$–	$(3.66)	$28.26	(1.24)%	$113	1.18%	1.18%	0.41%	17%
$(0.09)	$(4.91)	$–	$(5.00)	$32.71	15.95%	$162	1.17%	1.17%	0.24%	25%

$(0.30)	$(4.51)	$–	$(4.81)	$23.94	(17.59)%	$1,739	0.66%	0.66%	1.08%	17%
$(0.30)	$(4.45)	$–	$(4.75)	$34.23	40.98%	$2,507	0.64%	0.64%	0.47%	17%
$(0.33)	$(0.69)	$–	$(1.02)	$27.83	(0.55)%	$2,061	0.65%	0.65%	0.78%	11%
$(0.28)	$(3.53)	$–	$(3.81)	$28.93	(0.72)%	$2,455	0.64%	0.64%	0.95%	17%
$(0.26)	$(4.91)	$–	$(5.17)	$33.39	16.59%	$3,086	0.62%	0.62%	0.79%	25%

^d	The lesser of purchases or sales of portfolio securities for a period, divided by the monthly average of the market value of portfolio securities owned during the period. Securities with a maturity or expiration date at the time of acquisition of one year or less are excluded from the calculation.

^e	Less than $0.005.

See Notes to Financial Statements

DAVIS NEW YORK VENTURE FUND

Report of Independent Registered Public Accounting Firm

The Shareholders and Board of Directors

Davis New York Venture Fund, Inc.:

Opinion on the Financial Statements

We have audited the accompanying statement of assets and liabilities of Davis New York Venture Fund (a series of Davis New York Venture Fund, Inc.) (the “Fund”), including the schedule of investments, as of July 31, 2022, the related statement of operations for the year then ended, the statements of changes in net assets for each of the years in the two-year period then ended, and the related notes (collectively, the “financial statements”) and the financial highlights for each of the years in the five-year period then ended. In our opinion, the financial statements and financial highlights present fairly, in all material respects, the financial position of the Fund as of July 31, 2022, the results of its operations for the year then ended, the changes in its net assets for each of the years in the two-year period then ended, and the financial highlights for each of the years in the five-year period then ended, in conformity with U.S. generally accepted accounting principles.

Basis for Opinion

These financial statements and financial highlights are the responsibility of the Fund’s management. Our responsibility is to express an opinion on these financial statements and financial highlights based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (PCAOB) and are required to be independent with respect to the Fund in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements and financial highlights are free of material misstatement, whether due to error or fraud. Our audits included performing procedures to assess the risks of material misstatement of the financial statements and financial highlights, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements and financial highlights. Such procedures also included confirmation of securities owned as of July 31, 2022, by correspondence with the custodian and brokers or by other appropriate auditing procedures. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements and financial highlights. We believe that our audits provide a reasonable basis for our opinion.

KPMG LLP

We have served as the auditor of one or more Davis Funds investment companies since 1998.

Minneapolis, Minnesota

September 21, 2022

DAVIS NEW YORK VENTURE FUND

Federal Income Tax Information (Unaudited)

In early 2023, shareholders will receive information regarding all dividends and distributions paid to them by the Fund during the calendar year 2022. Regulations of the U.S. Treasury Department require the Fund to report this information to the Internal Revenue Service.

The information and distributions reported herein may differ from the information reported as distributions taxable to certain shareholders for the calendar year 2022 with their 2022 Form 1099-DIV.

The information is presented to assist shareholders in reporting distributions received from the Fund to the Internal Revenue Service. Because of the complexity of the federal regulations that may affect your individual tax return and the many variations in state and local regulations, we recommend that you consult your tax adviser for specific guidance.

During the fiscal year 2022, the Fund paid long-term capital gain distributions in the amount of $1,146,618,515. The Fund utilized equalization accounting for tax purposes, whereby a portion of redemption payments was treated as distributions of long-term capital gain. As a result, the Fund designated long-term capital gain distributions in the amount of $1,172,261,897.

During the fiscal year 2022, $59,999,786 of dividends paid by the Fund constituted income dividends for federal income tax purposes. The Fund designates $59,999,786 or 100% as income qualifying for the corporate dividends-received deduction.

For the fiscal year 2022, certain dividends paid by the Fund constitute qualified dividend income for federal income tax purposes. The Fund designates $59,999,786 or 100% as qualified dividend income.

DAVIS NEW YORK VENTURE FUND

Director Approval of Advisory Agreements (Unaudited)

Process of Annual Review

The Board of Directors of the Davis Funds oversees the management of each Davis Fund and, as required by law, determines annually whether to approve the continuance of each Davis Fund’s advisory agreement with Davis Selected Advisers, L.P. and sub-advisory agreement with Davis Selected Advisers-NY, Inc. (jointly “Davis Advisors” and “Advisory Agreements”).

With the assistance of counsel to the Independent Directors, the Independent Directors undertook a comprehensive review process in anticipation of their annual contract review meeting, held in March 2022. As part of this process, Davis Advisors provided the Independent Directors with material (including recent investment performance data) that was responsive to questions submitted to Davis Advisors by the Independent Directors. At this meeting, the Independent Directors reviewed and evaluated all information which they deemed reasonably necessary under the circumstances and were provided guidance by their independent counsel. In reaching their decision, the Independent Directors also took into account information furnished to them throughout the year and otherwise provided to them during their quarterly meetings or through other prior communications. The Independent Directors concluded that they had been supplied with sufficient information and data to analyze the Advisory Agreements and that their questions had been sufficiently answered by Davis Advisors. Upon completion of this review, the Independent Directors found that the terms of the Advisory Agreements were fair and reasonable and that continuation of the Advisory Agreements is in the best interests of Davis New York Venture Fund (or the “Fund”) and its shareholders.

Reasons the Independent Directors Approved Continuation of the Advisory Agreements

The Independent Directors’ determinations were based upon a comprehensive consideration of all information provided to them, and they did not identify any single item or piece of information as the controlling factor. Each Independent Director did not necessarily attribute the same weight to each factor. The following considerations and conclusions were important, but not exclusive, to the Independent Directors’ recommendation to renew the Advisory Agreements.

The Independent Directors considered the investment performance of the Fund on an absolute basis as well as relative to its benchmark and other comparable funds. The Independent Directors not only considered the investment performance of the Fund, but also the full range and quality of services provided by Davis Advisors to the Fund and its shareholders, including whether the Fund:

1.	achieves satisfactory investment results over the long-term, after all costs;

2.	efficiently and effectively handles shareholder transactions, inquiries, requests and records, provides quality accounting, legal, and compliance services, and oversees third-party service providers; and

3.	fosters healthy investor behavior.

Davis Advisors is reimbursed a portion of its costs in providing some, but not all, of these services.

A shareholder’s ultimate return is the product of a fund’s results, as well as the shareholder’s behavior, specifically in selecting when to invest or redeem. The Independent Directors concluded that, through its actions and communications, Davis Advisors has attempted to have a meaningful, positive impact on investor behavior.

In aggregate, Davis Advisors, employees of Davis Advisors, and the Davis family have made significant investments in the Fund. The Independent Directors considered that these investments tend to align Davis Advisors’, Davis Advisors’ employees’, and the Davis family’s interests with other shareholders, as they face the same risks, pay the same fees, and are motivated to achieve satisfactory long-term returns.

The Independent Directors noted the importance of reviewing quantitative measures, but recognized that qualitative factors are also important in assessing whether Davis Funds’ shareholders are likely to be well served by the renewal of the Advisory Agreements. They noted both the value and shortcomings of purely quantitative measures, including the data provided by independent service providers, and concluded that, while such measures and data may be informative, the judgment of the Independent Directors must take many factors into consideration in representing the shareholders of the Davis Funds, including those listed below. In connection with reviewing comparative performance information, the Independent Directors generally give greater weight to longer-term measurements.

DAVIS NEW YORK VENTURE FUND	Director Approval of Advisory Agreements
	(Unaudited) – (Continued)

Reasons the Independent Directors Approved Continuation of the Advisory Agreements – (Continued)

The Independent Directors noted that Davis Advisors employs a disciplined, company-specific, research-driven, businesslike, long-term investment philosophy. The Independent Directors considered the quality of Davis Advisors’ investment process, as well as the experience, capability, and integrity of its senior management and other personnel.

The Independent Directors recognized Davis Advisors’ (a) efforts to minimize transaction costs by generally having a long-term time horizon and low portfolio turnover; (b) focus on tax efficiency; (c) record of generally producing satisfactory results over longer-term periods; (d) efforts towards fostering healthy investor behavior by, among other things, providing informative and substantial educational material; and (e) efforts to promote shareholder interests by actively speaking out on corporate governance issues.

The Independent Directors assessed (a) comparative fee and expense information for other funds, as selected and analyzed by a nationally recognized independent service provider; (b) information regarding fees charged by Davis Advisors to other advisory clients, which includes other funds it advises, other funds which it sub-advises, and private accounts, as well as the differences in the services provided to such other clients; and (c) the fee schedule and breakpoints of the Fund, including an assessment of competitive fee schedules (and breakpoints, if applicable).

The Independent Directors reviewed the management fee schedule for the Fund, the profitability of the Fund to Davis Advisors, the extent to which economies of scale might be realized if the Fund’s net assets increase, and whether the fee schedule should reflect those potential economies of scale, at this time. The Independent Directors considered the nature, quality, and extent of the services being provided to the Fund and the costs incurred by Davis Advisors in providing such services. The Independent Directors considered various potential benefits that Davis Advisors may receive in connection with the services it provides under the Advisory Agreements with the Fund, including a review of portfolio brokerage practices. The Independent Directors noted that Davis Advisors does not use client commissions to pay for publications that are available to the general public or for research reports that are created by parties other than the broker-dealers providing trade execution, clearing and/or settlement services to the Fund.

The Independent Directors compared the fees paid to Davis Advisors by the Davis Funds with those paid by Davis Advisors’ advised and sub-advised clients, private account clients, and managed money/wrap clients. To the extent sub-advised, private account, or managed money/wrap fees were lower than fees paid by the Davis Funds, the Independent Directors noted that the range of services provided to the Davis Funds is more extensive, with greater risks associated with operating SEC registered, publicly traded mutual funds. Serving as the primary adviser for mutual funds is more work because of the complex overlay of regulatory, tax, and accounting issues, which are unique to mutual funds. In addition, the operational work required to service shareholders is more extensive because of the significantly greater number of shareholders, and managing trading is more complex because of more frequent fund flows. With respect to risk, not only has regulation become more complex and burdensome, but the scrutiny of regulators and shareholders has become more intense. The Independent Directors concluded that reasonable justifications existed for any differences between the fee rates for the Davis Funds and Davis Advisors’ other lines of business.

The Independent Directors noted that Davis New York Venture Fund Class A shares outperformed its benchmark, the Standard & Poor’s 500^® Index (the “S&P 500^®”), over the since-inception time period (February 17, 1969), but underperformed the S&P 500^® over the one-, three-, five-, and ten-year time periods, all periods ended February 28, 2022.

Broadridge, an independent service provider, presented a report to the Independent Directors that compared the Fund to all Lipper retail and institutional large-cap value funds (the “Performance Universe Average”), as well as the relevant Lipper Index. The report indicated that the Fund underperformed both the Performance Universe Average and Lipper Index over the one-, two-, three-, four-, five-, and ten-year time periods, all periods ended December 31, 2021.

The Independent Directors also reviewed the Fund’s performance versus both the S&P 500^® and the Lipper Large-Cap Value category when measured over rolling five- and ten-year time frames. The Fund outperformed the S&P 500^® in 29 out of 49 rolling five-year time periods and outperformed the Lipper Large-Cap Value category in 33 out of 49 rolling five-year time periods, all periods ended December 31 for each year from 1973 through 2021. The Fund outperformed the S&P 500^® in 34 out of 44 rolling ten-year time periods and outperformed the Lipper Large-Cap Value category in 31 out of 44 rolling ten-year time periods, all periods ended December 31 for each year from 1978 through 2021.

DAVIS NEW YORK VENTURE FUND	Director Approval of Advisory Agreements
	(Unaudited) – (Continued)

Reasons the Independent Directors Approved Continuation of the Advisory Agreements – (Continued)

The Independent Directors considered Davis New York Venture Fund’s Class A shares management fee and total expense ratio. The Fund’s management fee is above both the average and median of its expense group, and total expenses are below the average and are in line with the median of its expense group, as determined by Broadridge. The Independent Directors noted that the Fund is competitive when taking into account all fees and when compared to its expense universe, both the management fee and total expense ratio were below the median. The Independent Directors also noted that the Adviser has capped expenses for Class A, Class B, Class C, Class R, and Class Y shares through December 1, 2022.

Approval of Advisory Agreements

The Independent Directors concluded that Davis Advisors had provided Davis New York Venture Fund and its shareholders a reasonable level of both investment and non-investment services. The Independent Directors further concluded that shareholders have received a significant benefit from Davis Advisors’ shareholder-oriented approach, as well as the execution of its investment discipline.

The Independent Directors determined that the advisory fee for Davis New York Venture Fund was reasonable in light of the nature, quality, and extent of the services being provided to the Fund, the costs incurred by Davis Advisors in providing such services, and in comparison to the range of the average advisory fees of its peer group, as determined by an independent service provider. The Independent Directors found that the terms of the Advisory Agreements were fair and reasonable and that continuation of the Advisory Agreements is in the best interests of the Fund and its shareholders. The Independent Directors and the full Board of Directors therefore voted to continue the Advisory Agreements.

DAVIS NEW YORK VENTURE FUND

Liquidity Risk Management Program

Following is a description of the operation and effectiveness of the Liquidity Risk Management Program (“LRMP”) that was adopted by the Board of Directors (the “Board”) in accordance with Rule 22e-4 under the Investment Company Act of 1940 (the “Liquidity Rule”). The Liquidity Rule is meant to promote effective liquidity risk management practices in order to reduce the likelihood that a fund would be unable to meet its redemption obligations.

The Board has appointed Davis Selected Advisers, L.P. (the “Adviser”) to serve as the Administrator of the LRMP, subject to the supervision of the Board. The Adviser has engaged a third party to perform certain functions, including the production of liquidity classification model information.

The Adviser monitors the adequacy and effectiveness of the implementation of the LRMP on an ongoing basis. This monitoring includes a review of the Fund’s liquidity risk based on a variety of factors including the Fund’s (1) investment strategy, (2) portfolio liquidity and cash flow projections during normal and reasonably foreseeable stressed conditions, (3) shareholder redemptions, and (4) borrowing arrangements and other funding sources. The Liquidity Rule places a 15% limit on a fund’s illiquid investments and requires a fund that does not primarily hold assets that are highly liquid investments to determine and maintain a minimum percentage of the fund’s net assets in highly liquid investments (highly liquid investment minimum or HLIM). The LRMP includes provisions and safeguards that are reasonably designed to comply with the 15% limit on illiquid investments and the Fund is currently classified as a Fund that primarily holds highly liquid investments. The LRMP includes the classification, no less than monthly, of the Fund’s investments into one of four liquidity classifications as provided for in the Liquidity Rule.

At a recent meeting of the Fund’s Board of Directors, the Adviser provided a written report to the Board pertaining to the operation, adequacy, and effectiveness of implementation of the LRMP from April 1, 2021 through March 31, 2022. The report concluded that the LRMP is operating effectively and is reasonably designed to assess and manage the Fund’s liquidity risk. There can be no guarantee that the LRMP will achieve its objectives in the future. Additional information regarding risks of investing in the Fund, including liquidity risks presented by the Fund’s investment portfolio, is found in the Fund’s Prospectus and Statement of Additional Information.

DAVIS NEW YORK VENTURE FUND

Privacy Notice and Householding

Privacy Notice

While you generally will be dealing with a broker-dealer or other financial adviser, we may collect information about you from your account application and other forms that you may deliver to us. We use this information to process your requests and transactions; for example, to provide you with additional information about our Funds, to open an account for you, or to process a transaction. In order to service your account and execute your transactions, we may provide your personal information to firms that assist us in servicing your account, such as our transfer agent. We may also provide your name and address to one of our agents for the purpose of mailing to you your account statement and other information about our products and services. We may also gather information through the use of “cookies” when you visit our website. These files help us to recognize repeat visitors and allow easy access to and use of the website. We require these outside firms and agents to protect the confidentiality of your information and to use the information only for the purpose for which the disclosure is made. We do not provide customer names and addresses to outside firms, organizations, or individuals except in furtherance of our business relationship with you or as otherwise allowed by law.

We restrict access to nonpublic personal information about you to those employees who need to know that information to provide products or services to you. We maintain physical, electronic, and procedural safeguards that comply with federal standards to guard your personal information.

Householding

The Fund may, on occasion, mail notices, reports, prospectuses, or proxy material to shareholders. To avoid sending duplicate copies of materials to households, the Fund will mail only one copy of these items to shareholders having the same last name and address on the Fund’s records. The consolidation of these mailings, called householding, benefits the Fund through reduced mailing expense. If you have a direct account with the Fund and you do not want the mailing of these documents to be combined with those to other members of your household, please contact Davis Funds by phone at 1-800-279-0279. Your instructions will become effective within 30 days of your notice to the Fund.

DAVIS NEW YORK VENTURE FUND

Directors and Officers

For the purpose of their service as Directors to the Davis Funds, the business address for each of the Directors is: 2949 E. Elvira Road, Suite 101, Tucson, AZ 85756. Subject to exceptions and exemptions which may be granted by the Independent Directors, Directors must retire from the Board of Directors and cease being a Director at the close of business on the last day of the calendar year in which the Director attains age seventy-eight (78).

Name, Date of Birth,

Position(s) Held with

Fund, Length of Service

Principal Occupation(s) During Past Five Years

Number of

Portfolios

Overseen

Other Directorships

Independent Directors


John S. Gates Jr. (08/02/53) Director since 2007	Executive Chairman, TradeLane Properties LLC (industrial real estate company).	13	Chairman and Chief Executive Officer of PortaeCo LLC (private investment company); Director, Miami Corp. (diversified investment company).

Thomas S. Gayner (12/16/61) Director since 2004 Chairman since 2009	Co-Chief Executive Officer and Director, Markel Corp. (diversified financial holding company).	13	Director, Graham Holdings Company (educational and media company); Director, Cable ONE Inc. (cable service provider).

Samuel H. Iapalucci (07/19/52) Director since 2006	Retired; Executive Vice President and Chief Financial Officer, CH2M HILL Companies, Ltd. (engineering) until 2008.	13	None

Robert P. Morgenthau (03/22/57) Director since 2002	Principal, Spears Abacus Advisors, LLC (investment management firm) since 2011; Chairman, NorthRoad Capital Management, LLC (investment management firm) 2002-2011.	13	None

Lara N. Vaughan (04/20/69) Director since 2021	Chief Executive Officer and Chief Financial Officer of Parchman, Vaughan & Company, L.L.C. (investment bank).	13	None

Marsha C. Williams (03/28/51) Director since 1999	Retired; Senior Vice President and Chief Financial Officer, Orbitz Worldwide, Inc. (travel-service provider) 2007-2010.	13	Chairperson, Modine Manufacturing Company (heat transfer technology); Director, Fifth Third Bancorp (diversified financial services); Director, Crown Holdings, Inc. (manufacturing company).

Interested Directors*


Andrew A. Davis (06/25/63) Director since 1997	President or Vice President of each Davis Fund, Selected Fund, and Clipper Fund; President, Davis Selected Advisers, L.P., and also serves as an executive officer of certain companies affiliated with the Adviser.	16	Director, Selected Funds (consisting of two portfolios) since 1998; Trustee, Clipper Funds Trust (consisting of one portfolio) since 2014.

Christopher C. Davis (07/13/65) Director since 1997	President or Vice President of each Davis Fund, Selected Fund, Clipper Fund, and Davis ETF; Chairman, Davis Selected Advisers, L.P., and also serves as an executive officer of certain companies affiliated with the Adviser, including sole member of the Adviser’s general partner, Davis Investments, LLC.	16	Director, Selected Funds (consisting of two portfolios) since 1998; Trustee, Clipper Funds Trust (consisting of one portfolio) since 2014; Lead Independent Director, Graham Holdings Company (educational and media company); Director, The Coca-Cola Company (beverage company); Director, Berkshire Hathaway Inc. (financial services).

* Andrew A. Davis and Christopher C. Davis own partnership units (directly, indirectly, or both) of the Adviser and are considered to be “interested persons” of the Funds as defined in the Investment Company Act of 1940. Andrew A. Davis and Christopher C. Davis are brothers.

Officers

Lisa J. Cohen (born 04/25/89, Davis Funds officer since 2021). Vice President and Secretary of the Davis Funds (consisting of 13 portfolios), Selected Funds (consisting of two portfolios), Clipper Funds Trust (consisting of one portfolio), and Davis Fundamental ETF Trust (consisting of four portfolios); Vice President, Senior Attorney, and Secretary, Davis Selected Advisers, L.P., and also serves as an executive officer of certain companies affiliated with the Adviser.

Andrew A. Davis (born 06/25/63, Davis Funds officer since 1997). See description in the section on Interested Directors.

Christopher C. Davis (born 07/13/65, Davis Funds officer since 1997). See description in the section on Interested Directors.

Kenneth C. Eich (born 08/14/53, Davis Funds officer since 1997). Executive Vice President and Principal Executive Officer of the Davis Funds (consisting of 13 portfolios), Selected Funds (consisting of two portfolios), and Clipper Funds Trust (consisting of one portfolio); Trustee/Chairman, Executive Vice President, and Principal Executive Officer of Davis Fundamental ETF Trust (consisting of four portfolios); Chief Operating Officer, Davis Selected Advisers, L.P., and also serves as an executive officer of certain companies affiliated with the Adviser.

Douglas A. Haines (born 03/04/71, Davis Funds officer since 2004). Vice President, Treasurer, Chief Financial Officer, Principal Financial Officer, and Principal Accounting Officer of the Davis Funds (consisting of 13 portfolios), Selected Funds (consisting of two portfolios), Clipper Funds Trust (consisting of one portfolio), and Davis Fundamental ETF Trust (consisting of four portfolios); Vice President and Director of Fund Accounting, Davis Selected Advisers, L.P.

Randi J. Roessler (born 06/26/81, Davis Funds officer since 2018). Vice President and Chief Compliance Officer of the Davis Funds (consisting of 13 portfolios), Selected Funds (consisting of two portfolios), Clipper Funds Trust (consisting of one portfolio), and Davis Fundamental ETF Trust (consisting of four portfolios); Vice President and Chief Compliance Officer, Davis Selected Advisers, L.P., and also serves as an executive officer of certain companies affiliated with the Adviser.

DAVIS NEW YORK VENTURE FUND

Investment Adviser

Davis Selected Advisers, L.P. (Doing business as “Davis Advisors”)

2949 East Elvira Road, Suite 101

Tucson, Arizona 85756

(800) 279-0279

Distributor

Davis Distributors, LLC

2949 East Elvira Road, Suite 101

Tucson, Arizona 85756

Transfer Agent

DST Asset Manager Solutions, Inc.

c/o The Davis Funds

P.O. Box 219197

Kansas City, Missouri 64121-9197

Overnight Address:

430 West 7^th Street, Suite 219197

Kansas City, Missouri 64105-1407

Custodian

State Street Bank and Trust Co.

One Lincoln Street

Boston, Massachusetts 02111

Legal Counsel

Greenberg Traurig, LLP

1144 15^th Street, Suite 3300

Denver, Colorado 80202

Independent Registered Public Accounting Firm

KPMG LLP

4200 Wells Fargo Center

90 South 7^th Street

Minneapolis, MN 55402

For more information about Davis New York Venture Fund, including management fee, charges, and expenses, see the current prospectus, which must precede or accompany this report. The Fund’s Statement of Additional Information contains additional information about the Fund’s Directors and is available without charge, upon request, by calling 1-800-279-0279 and on the Fund’s website at www.davisfunds.com. Quarterly Fact Sheets are available on the Fund’s website at www.davisfunds.com.

DAVIS RESEARCH FUND

Table of Contents

Management’s Discussion of Fund Performance	2

Fund Overview	4

Expense Example	6

Schedule of Investments	7

Statement of Assets and Liabilities	10

Statement of Operations	11

Statements of Changes in Net Assets	12

Notes to Financial Statements	13

Financial Highlights	18

Report of Independent Registered Public Accounting Firm	19

Federal Income Tax Information	20

Director Approval of Advisory Agreements	21

Liquidity Risk Management Program	24

Privacy Notice and Householding	25

Directors and Officers	26

This Annual Report is authorized for use by existing shareholders. Prospective shareholders must receive a current Davis Research Fund (the “Fund”) prospectus, which contains more information about investment strategies, risks, charges, and expenses. Please read the prospectus carefully before investing or sending money.

Portfolio Proxy Voting Policies and Procedures

Quarterly Schedule of Investments

DAVIS RESEARCH FUND

Management’s Discussion of Fund Performance

Performance Overview

Davis Research Fund underperformed the Standard & Poor’s 500^® Index (“S&P 500^®” or the “Index”) for the twelve-month period ended July 31, 2022 (the “period”). The Fund’s Class A shares delivered a total return on net asset value of -15.71%, versus a -4.64% return for the S&P 500^®. The sectors¹ within the S&P 500^® that reported the strongest performance were Energy (up 67%), Utilities (up 15%), and Consumer Staples (up 7%). The sectors within the S&P 500^® that reported the weakest performance were Communication Services (down 29%), Consumer Discretionary (down 10%), and Financials (down 7%).

Detractors from Performance

The Fund’s Consumer Discretionary holdings were the most important detractor² from performance both on an absolute basis and relative to the Index. The Fund’s holdings underperformed the S&P 500^®sector (down 33%, versus down 10%) and a higher average weighting in this weaker performing sector (15%, compared to 12%) also hindered performance. The top two overall detractors during the period were Delivery Hero³ (down 68%) and Amazon (down 19%), respectively. Alibaba (down 54%) and Vroom (down 96%) were also among the top detractors. The Fund no longer owns Vroom.

The Fund continued to hold a large position in Information Technology. These holdings were also a significant detractor from performance during the period. The Fund’s holdings underperformed the Index sector (down 18%, versus down 5%). Intel (down 30%), SAP (down 34%), and Applied Materials (down 24 %) were top detractors from performance.

The Fund had no exposure in Energy or Utilities and was underweight in Consumer Staples (average weighting of 1%, versus 6%), the three strongest performing sectors of the S&P 500^®, respectively. Additionally, the Fund was significantly overweight in the weaker performing Financials sector (average weighting of 31%, versus 12%). Relative performance suffered due to each of these factors. Capital One Financial (down 31%) was a key detractor from the Financials sector.

Additional individual detractors from performance were Meta Platforms (down 55%) and IAC (down 50%), both from the Communication Services sector.

The Fund had an average weighting of 26% of net assets in foreign securities. The Fund’s foreign holdings underperformed the U.S. holdings (down 26%, versus down 11%).

Contributors to Performance

The Fund’s Financial holdings outperformed the Index sector (down 5%, versus down 7%). Several individual holdings from Financials were key contributors including Berkshire Hathaway (up 8%), Alleghany (up 25%), Rocket Companies (up 11%), DNB Bank (up 5%), DBS Group Holdings (up 6%), and Loews (up 9%). Berkshire Hathaway was the largest holding at the end of the period, representing 8.17% of net assets. Rocket Companies was a new addition during the period. The Fund no longer owns Alleghany.

The Fund’s underweight position in the worst performing sector of the Index, Communication Services (average weighting of 7%, versus 10%), benefited relative performance. These holdings also slightly outperformed the Index sector (down 27%, versus down 29%). Liberty Media, Formula One (up 47%) was the top overall contributor to performance during the period.

The Fund’s Health Care position was the only sector contributing to absolute performance. The Fund’s holdings outperformed the Index sector (up 8%, versus up 2%). UnitedHealth Group (up 33%) and Cigna (up 22%) were key contributors from the Health Care sector.

An additional individual contributor to performance was Ulta Beauty (up 10%), a company no longer held in the Fund.

Davis Research Fund’s investment objective is long-term growth of capital. There can be no assurance that the Fund will achieve its objective. Davis Research Fund’s principal risks are: stock market risk, common stock risk, foreign country risk, depositary receipts risk, emerging market risk, fees and expenses risk, foreign currency risk, headline risk, large-capitalization companies risk, manager risk, and mid- and small-capitalization companies risk. See the prospectus for a full description of each risk.

Class A shares of Davis Research Fund have been registered with the Securities and Exchange Commission and, as of the date of this report, in selected states where eligible investors are residents. Shares of Davis Research Fund currently are not available for public sale in any other state or jurisdiction. Currently, only the directors, officers, and employees of the Fund or its investment adviser and sub-adviser (and the investment adviser itself and affiliated companies) are eligible to purchase Fund shares. The Adviser reserves the right to reject any offer to purchase shares.

²	A company’s or sector’s contribution to or detraction from the Fund’s performance is a product both of its appreciation or depreciation and its weighting within the Fund. For example, a 5% holding that rises 20% has twice as much impact as a 1% holding that rises 50%.

DAVIS RESEARCH FUND

Management’s Discussion of Fund Performance – (Continued)

Comparison of a $10,000 investment in Davis Research Fund Class A versus the

Standard & Poor’s 500^® Index over 10 years for an investment made on July 31, 2012

Average Annual Total Return for periods ended July 31, 2022

Fund & Benchmark Index	1-Year	5-Year	10-Year	Since Fund’s Inception (10/31/01)	Gross Expense Ratio	Net Expense Ratio
Class A - without sales charge	(15.71)%	7.87%	11.16%	7.67%	0.69%	0.69%
Class A - with sales charge*	(19.71)%	6.83%	10.62%	7.42%	0.69%	0.69%
S&P 500^® Index	(4.64)%	12.82%	13.79%	8.89%

The performance data quoted in this report represents past performance, assumes that all distributions were reinvested, and is not a guarantee of future results. The investment return and principal value will fluctuate so that shares may be worth more or less than their original cost when redeemed. Current performance may be higher or lower than performance data quoted. Returns shown do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. The operating expense ratio may vary in future years. For most recent month-end performance information, please call Investor Services at 1-800-279-0279.

Average Annual Total Return for periods ended June 30, 2022

Class A Shares	1-Year	5-Year	10-Year
With sales charge*	(26.50)%	5.97%	9.98%

*Reflects 4.75% front-end sales charge.

DAVIS RESEARCH FUND	Fund Overview
	July 31, 2022

Portfolio Composition		Industry Weightings
(% of Fund’s 07/31/22 Net Assets)		(% of 07/31/22 Stock Holdings)

			Fund	S&P 500^®
Common Stock (U.S.)	70.29%	Information Technology	24.78%	27.91%
Common Stock (Foreign)	27.24%	Diversified Financials	16.75%	4.99%
Short-Term Investments	2.47%	Retailing	14.77%	6.21%
Other Assets & Liabilities	– ^	Banks	11.96%	3.61%
	100.00%	Capital Goods	8.64%	5.28%
		Media & Entertainment	6.66%	7.20%
		Insurance	6.65%	2.03%
^Less than (0.005)%.		Health Care	5.55%	14.32%
		Consumer Durables & Apparel	1.90%	0.85%
		Materials	1.64%	2.52%
		Food, Beverage & Tobacco	0.70%	3.52%
		Energy	–	4.37%
		Utilities	–	3.00%
		Other	–	14.19%
			100.00%	100.00%

Top 10 Long-Term Holdings

(% of Fund’s 07/31/22 Net Assets)


Berkshire Hathaway Inc. *	Diversified Financial Services	8.17%
Amazon.com, Inc.	Retailing	7.58%
Microsoft Corp.	Software & Services	4.95%
Intel Corp.	Semiconductors & Semiconductor Equipment	3.44%
Wells Fargo & Co.	Banks	3.26%
Applied Materials, Inc.	Semiconductors & Semiconductor Equipment	3.21%
Texas Instruments Inc.	Semiconductors & Semiconductor Equipment	3.18%
SAP SE, ADR	Software & Services	2.96%
Bank of New York Mellon Corp.	Capital Markets	2.78%
Julius Baer Group Ltd.	Capital Markets	2.78%

* Berkshire Hathaway Inc. holding includes Class A and Class B.

DAVIS RESEARCH FUND	Fund Overview – (Continued)
	July 31, 2022

New Positions Added (08/01/21-07/31/22)

(Highlighted positions are those greater than 0.90% of the Fund’s 07/31/22 net assets)

Security	Industry	Date of 1st Purchase	% of Fund’s 07/31/22 Net Assets
Fila Holdings Corp.	Consumer Durables & Apparel	03/02/22	0.89%
iQIYI, Inc., Class A, ADR	Media & Entertainment	10/08/21	0.35%
Owens Corning	Capital Goods	04/05/22	0.83%
Rocket Companies, Inc., Class A	Thrifts & Mortgage Finance	05/06/22	1.32%
Skechers U.S.A., Inc., Class A	Consumer Durables & Apparel	02/04/22	0.96%
Teck Resources Ltd., Class B	Materials	06/23/22	0.59%

Positions Closed (08/01/21-07/31/22)

(Gains and losses greater than $400,000 are highlighted)

		Date of		Realized
Security	Industry	Final Sale		Gain (Loss)
Alleghany Corp.	Reinsurance	05/06/22	$	248,351
American Express Co.	Consumer Finance	10/22/21		371,728
Ulta Beauty, Inc.	Retailing	10/25/21		738,076
Vroom, Inc.	Retailing	05/10/22		(409,648)

DAVIS RESEARCH FUND

Expense Example

As a shareholder of the Fund, you incur two types of costs: (1) transaction costs, including sales charges (loads) on purchases; and (2) ongoing costs, including advisory and administrative fees and other Fund expenses. The Expense Example is intended to help you understand your ongoing costs (in dollars) of investing in the Fund and to compare these costs with the ongoing costs of investing in other mutual funds. The Expense Example is based on an investment of $1,000 invested at the beginning of the period and held for the entire period indicated, which is for the six-month period ended July 31, 2022.

Actual Expenses

Hypothetical Example for Comparison Purposes

Please note that the expenses shown in the table are meant to highlight your ongoing costs only and do not reflect any transactional costs, such as front-end sales charges (loads). Therefore, the information in the row entitled “Hypothetical” is useful in comparing ongoing costs only, and will not help you determine the relative total costs of owning different funds. In addition, if these transactional costs were included, your costs would be higher.

	Beginning	Ending	Expenses Paid
	Account Value	Account Value	During Period*
	(02/01/22)	(07/31/22)	(02/01/22-07/31/22)
Class A
Actual	$1,000.00	$868.38	$3.29
Hypothetical	$1,000.00	$1,021.27	$3.56

Hypothetical assumes 5% annual return before expenses.

Expenses are equal to the Class’s annualized operating expense ratio (0.71%)*, multiplied by the average account value over the period, multiplied by 181/365 (to reflect the one-half year period).

**The expense ratio reflects the impact, if any, of certain reimbursements from the Adviser.

DAVIS RESEARCH FUND	Schedule of Investments
	July 31, 2022

						Shares		Value (Note 1)
COMMON STOCK – (97.53%)
	COMMUNICATION SERVICES – (6.50%)
		Media & Entertainment – (6.50%)
				Alphabet Inc., Class C *			6,100	$	711,504
				IAC Inc. *			6,360		435,660
				iQIYI, Inc., Class A, ADR (China)*			45,460		173,657
				Liberty Media Corp., Liberty Formula One, Series A *			9,590		594,484
				Liberty Media Corp., Liberty Formula One, Series C *			11,210		759,702
				Meta Platforms, Inc., Class A *			3,025		481,277
				Vimeo, Inc. *			7,257		40,349
					Total Communication Services				3,196,633
	CONSUMER DISCRETIONARY – (16.26%)
		Consumer Durables & Apparel – (1.85%)
				Fila Holdings Corp. (South Korea)			18,780		440,401
				Skechers U.S.A., Inc., Class A *			12,400		470,704
									911,105
		Retailing – (14.41%)
				Alibaba Group Holding Ltd., ADR (China)*			5,330		476,342
				Amazon.com, Inc. *			27,620		3,727,319
				Delivery Hero SE (Germany)*			15,045		725,866
				JD.com, Inc., Class A, ADR (China)			14,923		887,919
				Meituan, Class B (China)*			19,500		437,450
				Naspers Ltd. - N (South Africa)			1,334		188,476
				Prosus N.V., Class N (Netherlands)			9,867		643,674
									7,087,046
					Total Consumer Discretionary				7,998,151
	CONSUMER STAPLES – (0.68%)
		Food, Beverage & Tobacco – (0.68%)
				Darling Ingredients Inc. *			4,840		335,315
					Total Consumer Staples				335,315
	FINANCIALS – (34.49%)
		Banks – (11.67%)
			Banks – (10.35%)
				Danske Bank A/S (Denmark)			51,660		722,429
				DBS Group Holdings Ltd. (Singapore)			56,166		1,281,615
				DNB Bank ASA (Norway)			19,370		382,088
				U.S. Bancorp			23,335		1,101,412
				Wells Fargo & Co.			36,585		1,604,984
									5,092,528
			Thrifts & Mortgage Finance – (1.32%)
				Rocket Companies, Inc., Class A			68,020		647,551
									5,740,079
		Diversified Financials – (16.33%)
			Capital Markets – (5.56%)
				Bank of New York Mellon Corp.			31,500		1,368,990
				Julius Baer Group Ltd. (Switzerland)			26,400		1,365,145
									2,734,135
			Consumer Finance – (2.60%)
				Capital One Financial Corp.			11,645		1,278,970
			Diversified Financial Services – (8.17%)
				Berkshire Hathaway Inc., Class A *			4		1,806,800

DAVIS RESEARCH FUND	Schedule of Investments - (Continued)
	July 31, 2022

						Shares		Value (Note 1)
COMMON STOCK – (CONTINUED)
	FINANCIALS – (CONTINUED)
		Diversified Financials – (Continued)
			Diversified Financial Services – (Continued)
				Berkshire Hathaway Inc., Class B *			7,365	$	2,213,919
									4,020,719
									8,033,824
		Insurance – (6.49%)
			Life & Health Insurance – (3.19%)
				AIA Group Ltd. (Hong Kong)			86,750		871,546
				Ping An Insurance (Group) Co. of China, Ltd. - H (China)			119,000		699,368
									1,570,914
			Property & Casualty Insurance – (3.30%)
				Loews Corp.			11,345		660,846
				Markel Corp. *			740		959,884
									1,620,730
									3,191,644
					Total Financials				16,965,547
	HEALTH CARE – (5.41%)
		Health Care Equipment & Services – (4.52%)
				Cigna Corp.			2,628		723,646
				CVS Health Corp.			1,761		168,493
				Humana Inc.			500		241,000
				Quest Diagnostics Inc.			3,990		544,914
				UnitedHealth Group Inc.			1,010		547,764
									2,225,817
		Pharmaceuticals, Biotechnology & Life Sciences – (0.89%)
				Viatris Inc.			44,980		435,856
					Total Health Care				2,661,673
	INDUSTRIALS – (8.42%)
		Capital Goods – (8.42%)
				Carrier Global Corp.			6,420		260,203
				Eaton Corp. plc			7,953		1,180,146
				Ferguson plc (United Kingdom)			4,520		568,610
				Johnson Controls International plc			4,928		265,668
				Owens Corning			4,390		407,129
				Raytheon Technologies Corp.			1,787		166,566
				Schneider Electric SE (France)			9,365		1,295,215
					Total Industrials				4,143,537
	INFORMATION TECHNOLOGY – (24.17%)
		Semiconductors & Semiconductor Equipment – (11.08%)
				Applied Materials, Inc.			14,895		1,578,572
				Intel Corp.			46,551		1,690,267
				Lam Research Corp.			1,228		614,626
				Texas Instruments Inc.			8,750		1,565,288
									5,448,753
		Software & Services – (13.09%)
				DXC Technology Co. *			9,715		306,994
				Microsoft Corp.			8,673		2,434,858

DAVIS RESEARCH FUND	Schedule of Investments - (Continued)
	July 31, 2022

									Shares/Principal			Value (Note 1)
COMMON STOCK – (CONTINUED)
	INFORMATION TECHNOLOGY – (CONTINUED)
		Software & Services – (Continued)
				Oracle Corp.							14,350	$	1,117,004
				SAP SE, ADR (Germany)							15,620		1,455,940
				VMware, Inc., Class A							9,680		1,124,816
													6,439,612
								Total Information Technology					11,888,365
	MATERIALS – (1.60%)
				Holcim Ltd. (Switzerland)							10,516		492,609
				Teck Resources Ltd., Class B (Canada)							9,940		292,136
								Total Materials					784,745
						TOTAL COMMON STOCK – (Identified cost $31,288,149)							47,973,966
SHORT-TERM INVESTMENTS – (2.47%)
				StoneX Financial Inc. Joint Repurchase Agreement, 2.25%, 08/01/22, dated 07/29/22, repurchase value of $741,139 (collateralized by: U.S. Government agency mortgages and obligations in a pooled cash account, 0.00%-7.00%, 08/15/22-07/20/52, total market value $755,820)						$	741,000		741,000
				Truist Securities, Inc. Joint Repurchase Agreement, 2.25%, 08/01/22, dated 07/29/22, repurchase value of $474,089 (collateralized by: U.S. Government agency mortgages in a pooled cash account, 0.00%-4.00%, 08/01/25-04/01/45, total market value $483,480)							474,000		474,000
						TOTAL SHORT-TERM INVESTMENTS – (Identified cost $1,215,000)							1,215,000
					Total Investments – (100.00%) – (Identified cost $32,503,149)								49,188,966
					Liabilities Less Other Assets – (–%)^								(819)
							Net Assets – (100.00%)					$	49,188,147

	ADR: American Depositary Receipt

	*		Non-income producing security.

	^		Less than (0.005)%.

See Notes to Financial Statements

DAVIS RESEARCH FUND	Statement of Assets and Liabilities
	At July 31, 2022

ASSETS:
Investments in securities, at value* (see accompanying Schedule of Investments)			$	49,188,966
Cash				818
Receivables:
	Dividends and interest			69,898
Prepaid expenses				396
		Total assets		49,260,078
LIABILITIES:
Accrued audit fees				20,496
Accrued custodian fees				12,714
Accrued investment advisory fees				22,603
Other accrued expenses				16,118
		Total liabilities		71,931
NET ASSETS			$	49,188,147
NET ASSETS CONSIST OF:
Par value of shares of capital stock			$	107,139
Additional paid-in capital				32,171,895
Distributable earnings				16,909,113
		Net Assets	$	49,188,147
CLASS A SHARES:
Net assets			$	49,188,147
Shares outstanding				2,142,788
Net asset value and redemption price per share (Net assets ÷ Shares outstanding)			$	22.96
Maximum offering price per share (100/95.25 of $22.96)†			$	24.10
*Including:
	Cost of investments		$	32,503,149
†On purchases of $100,000 or more, the offering price is reduced.

See Notes to Financial Statements

DAVIS RESEARCH FUND	Statement of Operations
	For the year ended July 31, 2022

INVESTMENT INCOME:
Income:
Dividends*					$	883,004
Interest						5,823
		Total income				888,827
Expenses:
Investment advisory fees (Note 3)			$	325,804
Custodian fees				25,225
Transfer agent fees				1,903
Audit fees				20,496
Legal fees				285
Accounting fees (Note 3)				3,000
Reports to shareholders				750
Directors’ fees and expenses				6,486
Registration and filing fees				5,200
Miscellaneous				16,707
		Total expenses				405,856
Net investment income						482,971
REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS AND FOREIGN CURRENCY TRANSACTIONS:
Net realized gain (loss) from:
	Investment transactions					7,680,984
	Foreign currency transactions					(3,224)
Net realized gain						7,677,760
Net decrease in unrealized appreciation						(16,877,852)
		Net realized and unrealized loss on investments and foreign currency transactions				(9,200,092)
Net decrease in net assets resulting from operations					$	(8,717,121)

*Net of foreign taxes withheld of					$	36,563

See Notes to Financial Statements

DAVIS RESEARCH FUND

Statements of Changes in Net Assets

		Year ended July 31,
		2022		2021
OPERATIONS:
Net investment income		$	482,971	$	266,347
Net realized gain from investments and foreign currency transactions			7,677,760		2,525,205
Net increase (decrease) in unrealized appreciation on investments and foreign currency transactions			(16,877,852)		14,375,146
	Net increase (decrease) in net assets resulting from operations		(8,717,121)		17,166,698
DIVIDENDS AND DISTRIBUTIONS TO SHAREHOLDERS:			(9,693,314)		(2,204,964)
CAPITAL SHARE TRANSACTIONS:
Net increase (decrease) in net assets resulting from capital share transactions (Note 4)			(6,247,012)		2,042,764
	Total increase (decrease) in net assets		(24,657,447)		17,004,498
NET ASSETS:
Beginning of year			73,845,594		56,841,096
End of year		$	49,188,147	$	73,845,594

See Notes to Financial Statements

DAVIS RESEARCH FUND	Notes to Financial Statements
	July 31, 2022

NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Short-term investments purchased within 60 days to maturity are valued at amortized cost, which approximates market value.

The Fund’s valuation procedures are reviewed and subject to approval by the Board of Directors. There have been no significant changes to the fair valuation procedures during the period.

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 RESEARCH FUND	Notes to Financial Statements – (Continued)
	July 31, 2022

NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES – (CONTINUED)

Fair Value Measurements - (Continued)

The following is a summary of the inputs used as of July 31, 2022 in valuing the Fund’s investments carried at value:

	Investments in Securities at Value
	Valuation Inputs
			Level 2:		Level 3:
			Other Significant		Significant
	Level 1:		Observable		Unobservable
	Quoted Prices		Inputs*		Inputs		Total
Common Stock:
Communication Services	$	3,196,633	$	–	$	–	$	3,196,633
Consumer Discretionary		5,562,284		2,435,867		–		7,998,151
Consumer Staples		335,315		–		–		335,315
Financials		11,643,356		5,322,191		–		16,965,547
Health Care		2,661,673		–		–		2,661,673
Industrials		2,279,712		1,863,825		–		4,143,537
Information Technology		11,888,365		–		–		11,888,365
Materials		292,136		492,609		–		784,745
Short-term Investments		–		1,215,000		–		1,215,000
Total Investments	$	37,859,474	$	11,329,492	$	–	$	49,188,966

*Includes certain securities trading primarily outside the U.S. whose value the Fund adjusted as a result of significant market movements following the close of local trading.

DAVIS RESEARCH FUND	Notes to Financial Statements – (Continued)
	July 31, 2022

NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES – (CONTINUED)

At July 31, 2022, the aggregate cost of investments and unrealized appreciation (depreciation) for federal income tax purposes were as follows:

Cost	$	32,711,154
Unrealized appreciation		19,036,875
Unrealized depreciation		(2,559,063)
Net unrealized appreciation	$	16,477,812

Dividends and Distributions to Shareholders - Dividends and distributions to shareholders are recorded on the ex-dividend date. Net investment income (loss), net realized gains (losses), and net unrealized appreciation (depreciation) on investments [collectively “Distributable earnings (losses)”] may differ for financial statement and tax purposes primarily due to permanent and temporary differences which may include wash sales, corporate actions, Directors’ deferred compensation, passive foreign investment company shares, and foreign currency transactions. The character of dividends and distributions made during the fiscal year from net investment income and net realized securities gains may differ from their ultimate characterization for federal income tax purposes. Also, due to the timing of dividends and distributions, the fiscal year in which amounts are distributed may differ from the fiscal year in which income or realized gain was recorded by the Fund. The Fund adjusts certain components of capital to reflect permanent differences between financial statement amounts and net income and realized gains/losses determined in accordance with income tax rules.

The tax character of distributions paid during the years ended July 31, 2022 and 2021 was as follows:

	2022		2021
Ordinary income	$	390,573	$	384,267
Long-term capital gain		9,302,741		1,820,697
Total	$	9,693,314	$	2,204,964

As of July 31, 2022, the components of distributable earnings on a tax basis were as follows:

Undistributed ordinary income	$	380,795
Undistributed long-term capital gain		55,375
Net unrealized appreciation on investments and foreign currency transactions		16,476,035
Other temporary differences		(3,092)
Total	$	16,909,113

DAVIS RESEARCH FUND	Notes to Financial Statements – (Continued)
	July 31, 2022

NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES – (CONTINUED)

NOTE 2 - PURCHASES AND SALES OF SECURITIES

The cost of purchases and proceeds from sales of investment securities (excluding short-term investments) during the year ended July 31, 2022 were $6,104,534 and $16,825,937, respectively.

NOTE 3 - FEES AND OTHER TRANSACTIONS WITH SERVICE PROVIDERS (INCLUDING AFFILIATES)

All officers of the Fund (including Interested Directors) hold positions as executive officers with the Adviser or its affiliates.

As of July 31, 2022, one related shareholder’s investment in the Fund represents 99% of outstanding shares. Investment activities of this shareholder (the Adviser) could have a material impact on the Fund.

Investment Advisory Fees - Advisory fees are paid monthly to the Adviser. The fixed annual rate is 0.55% of the average net assets.

Transfer Agent and Accounting Fees - DST Asset Manager Solutions, Inc. is the Fund’s primary transfer agent. The Adviser is also paid for certain transfer agent services. The fee paid to the Adviser for these services during the year ended July 31, 2022 amounted to $364. State Street Bank and Trust Company (“State Street Bank”) is the Fund’s primary accounting provider. Fees for such services are included in the custodian fees as State Street Bank also serves as the Fund’s custodian. The Adviser is also paid for certain accounting services. The fee paid to the Adviser for these services during the year ended July 31, 2022 amounted to $3,000.

DAVIS RESEARCH FUND	Notes to Financial Statements – (Continued)
	July 31, 2022

NOTE 3 - FEES AND OTHER TRANSACTIONS WITH SERVICE PROVIDERS (INCLUDING AFFILIATES) – (CONTINUED)

Distribution and Service Plan Fees - The Fund has adopted a Distribution Plan (“12b-1 Plan”) for Class A shares. Under the 12b-1 Plan, the Fund reimburses Davis Distributors, LLC (“Distributor”), the Fund’s Underwriter, for amounts paid to dealers as a service fee or commissions with respect to Class A shares sold by dealers, which remain outstanding during the period. The service fee is paid at an annual rate up to 0.25% of the average net assets maintained by the responsible dealers. There was no service fee for Class A shares of the Fund for the year ended July 31, 2022.

The Distributor received no commissions earned on sales of Class A shares of the Fund for the year ended July 31, 2022.

NOTE 4 - CAPITAL STOCK

At July 31, 2022, there were 3.5 billion shares of capital stock ($0.05 par value per share) authorized for Davis New York Venture Fund, Inc., of which 500 million shares are classified as Davis Research Fund. Transactions in capital stock were as follows:

	Year ended July 31, 2022
		Sold		Reinvestment of Distributions		Redeemed		Net Decrease

Shares: Class A		129		343,933		(568,384)		(224,322)
Value: Class A	$	3,058	$	9,681,733	$	(15,931,803)	$	(6,247,012)


	Year ended July 31, 2021
		Sold		Reinvestment of Distributions		Redeemed		Net Increase

Shares: Class A		50		80,876		(6,301)		74,625
Value: Class A	$	1,500	$	2,202,237	$	(160,973)	$	2,042,764

DAVIS RESEARCH FUND

Financial Highlights

The following financial information represents selected data for each share of capital stock outstanding throughout each period:

CLASS A
					Year ended July 31,
		2022			2021			2020			2019		2018
Net Asset Value, Beginning of Period		$	31.20		$	24.79		$	23.20		$	23.73	$	21.09
Income (Loss) from Investment Operations:
Net Investment Income		0.22		^a	0.11		^a	0.19		^a	0.30		0.19
Net Realized and Unrealized Gains (Losses)		(4.36)			7.27			2.86			0.03		2.93
	Total from Investment Operations	(4.14)			7.38			3.05			0.33		3.12
Dividends and Distributions:
Dividends from Net Investment Income		(0.17)			(0.06)			(0.53)			(0.19)		(0.16)
Distributions from Realized Gains		(3.93)			(0.91)			(0.93)			(0.67)		(0.32)
	Total Dividends and Distributions	(4.10)			(0.97)			(1.46)			(0.86)		(0.48)
Net Asset Value, End of Period		$	22.96		$	31.20		$	24.79		$	23.20	$	23.73
Total Return^b		(15.71)%			30.31%			13.52%			1.95%		14.94%
Ratios/Supplemental Data:
Net Assets, End of Period (in thousands)		$	49,188		$	73,846		$	56,841		$	50,123	$	49,371
Ratio of Expenses to Average Net Assets:
	Gross	0.69%			0.67%			0.69%			0.70%		0.70%
	Net^c	0.69%			0.67%			0.69%			0.70%		0.70%
Ratio of Net Investment Income to Average Net Assets		0.82%			0.39%			0.82%			1.35%		0.85%
Portfolio Turnover Rate^d		11%			15%			13%			23%		12%

^a	Per share calculations were based on average shares outstanding for the period.

^b	Assumes hypothetical initial investment on the business day before the first day of the fiscal period, with all dividends and distributions reinvested in additional shares on the reinvestment date, and redemption at the net asset value calculated on the last business day of the fiscal period. Sales charges are not reflected in the total returns.

^c	The Net Ratio of Expenses to Average Net Assets reflects the impact, if any, of certain reimbursements.

^d	The lesser of purchases or sales of portfolio securities for a period, divided by the monthly average of the market value of portfolio securities owned during the period. Securities with a maturity or expiration date at the time of acquisition of one year or less are excluded from the calculation.

See Notes to Financial Statements

DAVIS RESEARCH FUND

Report of Independent Registered Public Accounting Firm

The Shareholders and Board of Directors

Davis New York Venture Fund, Inc.:

Opinion on the Financial Statements

We have audited the accompanying statement of assets and liabilities of Davis Research Fund (a series of Davis New York Venture Fund, Inc.) (the “Fund”), including the schedule of investments, as of July 31, 2022, the related statement of operations for the year then ended, the statements of changes in net assets for each of the years in the two-year period then ended, and the related notes (collectively, the “financial statements”) and the financial highlights for each of the years in the five-year period then ended. In our opinion, the financial statements and financial highlights present fairly, in all material respects, the financial position of the Fund as of July 31, 2022, the results of its operations for the year then ended, the changes in its net assets for each of the years in the two-year period then ended, and the financial highlights for each of the years in the five-year period then ended, in conformity with U.S. generally accepted accounting principles.

Basis for Opinion

These financial statements and financial highlights are the responsibility of the Fund’s management. Our responsibility is to express an opinion on these financial statements and financial highlights based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (“PCAOB”) and are required to be independent with respect to the Fund in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

KPMG LLP

We have served as the auditor of one or more Davis Funds investment companies since 1998.

Minneapolis, Minnesota

September 21, 2022

DAVIS RESEARCH FUND

Federal Income Tax Information (Unaudited)

The information and distributions reported herein may differ from the information reported as distributions taxable to certain shareholders for the calendar year 2022 with their 2022 Form 1099-DIV.

During the fiscal year 2022, the Fund paid long-term capital gain distributions in the amount of $9,302,741.

During the fiscal year 2022, $390,573 of dividends paid by the Fund constituted income dividends for federal income tax purposes. The Fund designates $376,131 or 96% as income qualifying for the corporate dividends-received deduction.

For the fiscal year 2022, certain dividends paid by the Fund constitute qualified dividend income for federal income tax purposes. The Fund designates $390,573 or 100% as qualified dividend income.

DAVIS RESEARCH FUND

Director Approval of Advisory Agreements (Unaudited)

Process of Annual Review

With the assistance of counsel to the Independent Directors, the Independent Directors undertook a comprehensive review process in anticipation of their annual contract review meeting, held in March 2022. As part of this process, Davis Advisors provided the Independent Directors with material (including recent investment performance data) that was responsive to questions submitted to Davis Advisors by the Independent Directors. At this meeting, the Independent Directors reviewed and evaluated all information which they deemed reasonably necessary under the circumstances and were provided guidance by their independent counsel. In reaching their decision, the Independent Directors also took into account information furnished to them throughout the year and otherwise provided to them during their quarterly meetings or through other prior communications. The Independent Directors concluded that they had been supplied with sufficient information and data to analyze the Advisory Agreements and that their questions had been sufficiently answered by Davis Advisors. Upon completion of this review, the Independent Directors found that the terms of the Advisory Agreements were fair and reasonable and that continuation of the Advisory Agreements is in the best interests of Davis Research Fund (or the “Fund”) and its shareholders.

Reasons the Independent Directors Approved Continuation of the Advisory Agreements

1.	achieves satisfactory investment results over the long-term, after all costs;

2.	efficiently and effectively handles shareholder transactions, inquiries, requests and records, provides quality accounting, legal, and compliance services, and oversees third-party service providers; and

3.	fosters healthy investor behavior.

Davis Advisors is reimbursed a portion of its costs in providing some, but not all, of these services.

DAVIS RESEARCH FUND	Director Approval of Advisory Agreements
	(Unaudited) – (Continued)

Reasons the Independent Directors Approved Continuation of the Advisory Agreements – (Continued)

The Independent Directors compared the fees paid to Davis Advisors by the Davis Funds with those paid by Davis Advisors’ advised and sub-advised clients, private account clients, and managed money/wrap clients. To the extent sub-advised, private account, or managed money/wrap fees were lower than fees paid by the Davis Funds, the Independent Directors noted that the range of services provided to the Davis Funds is more extensive, with greater risks associated with operating Securities and Exchange Commission (“SEC”) registered, publicly traded mutual funds. Serving as the primary adviser for mutual funds is more work because of the complex overlay of regulatory, tax, and accounting issues, which are unique to mutual funds. In addition, the operational work required to service shareholders is more extensive because of the significantly greater number of shareholders, and managing trading is more complex because of more frequent fund flows. With respect to risk, not only has regulation become more complex and burdensome, but the scrutiny of regulators and shareholders has become more intense. The Independent Directors concluded that reasonable justifications existed for any differences between the fee rates for the Davis Funds and Davis Advisors’ other lines of business.

The Independent Directors noted that Class A shares of the Fund have been registered with the SEC and, as of the date of their review, in selected states where eligible investors are residents. Shares of the Fund are not available for general public sale in any state or jurisdiction; only the directors, officers, and employees of the Fund or its investment adviser and sub-adviser (and the investment adviser itself and affiliated companies) are eligible to purchase Fund shares. The Independent Directors also noted that Davis Selected Advisers, L.P. was the beneficial owner of 98.82% of all outstanding shares as of October 31, 2021.

The Independent Directors noted that Davis Research Fund Class A shares underperformed its benchmark, the Standard & Poor’s 500^® Index (the “S&P 500^®”), over the one-, three-, five-, ten-year, and since-inception time periods, all periods ended February 28, 2022.

Broadridge, an independent service provider, presented a report to the Independent Directors that compared the Fund to all Lipper retail and institutional large-cap core funds (“Performance Universe Average”), as well as the relevant Lipper Index. The report indicated that the Fund underperformed both the Performance Universe Average and Lipper Index over the one-, two-, three-, four-, five-, and ten-year time periods, all periods ended December 31, 2021.

DAVIS RESEARCH FUND	Director Approval of Advisory Agreements
	(Unaudited) – (Continued)

Reasons the Independent Directors Approved Continuation of the Advisory Agreements – (Continued)

The Independent Directors also reviewed the Fund’s performance versus the S&P 500^® and the Lipper Large-Cap Core category when measured over rolling five- and ten-year time periods. The Fund outperformed the S&P 500^® in 4 out of 17 rolling five-year time periods and outperformed the Lipper Large-Cap Core category in 7 out of 17 rolling five-year time periods, all periods ended December 31 for each year from 2005 through 2021. The Fund outperformed the S&P 500^® in 2 out of 12 rolling ten-year time periods and outperformed the Lipper Large-Cap Core category in 4 out of 12 rolling ten-year time periods, all periods ended December 31 for each year from 2010 through 2021.

The Independent Directors considered the management fee and total expense ratio for the Fund. The management fee and total expense ratio were reasonable and well below the average and median of its expense group, as determined by Broadridge.

Approval of Advisory Agreements

The Independent Directors concluded that Davis Advisors had provided Davis Research Fund and its shareholders a reasonable level of both investment and non-investment services. The Independent Directors further concluded that shareholders have received a significant benefit from Davis Advisors’ shareholder-oriented approach, as well as the execution of its investment discipline.

The Independent Directors determined that the advisory fee for Davis Research Fund was reasonable in light of the nature, quality, and extent of the services being provided to the Fund, the costs incurred by Davis Advisors in providing such service, and in comparison to the range of the average advisory fees of its peer group, as determined by an independent service provider. The Independent Directors found that the terms of the Advisory Agreements were fair and reasonable and that continuation of the Advisory Agreements is in the best interests of the Fund and its shareholders. The Independent Directors and the full Board of Directors therefore voted to continue the Advisory Agreements.

DAVIS RESEARCH FUND

Liquidity Risk Management Program

DAVIS RESEARCH FUND

Privacy Notice and Householding

Privacy Notice

Householding

DAVIS RESEARCH FUND

Directors and Officers

For the purpose of their service as Directors to the Davis Funds, the business address for each of the Directors is 2949 E. Elvira Road, Suite 101, Tucson, AZ 85756. Subject to exceptions and exemptions, which may be granted by the Independent Directors, Directors must retire from the Board of Directors and cease being a Director at the close of business on the last day of the calendar year in which the Director attains age seventy-eight (78).

Name, Date of Birth,

Position(s) Held with

Fund, Length of Service

Principal Occupation(s) During Past Five Years

Number of

Portfolios

Overseen

Other Directorships

Independent Directors


John S. Gates Jr. (08/02/53) Director since 2007	Executive Chairman, TradeLane Properties LLC (industrial real estate company).	13	Chairman and Chief Executive Officer of PortaeCo LLC (private investment company); Director, Miami Corp. (diversified investment company).

Thomas S. Gayner (12/16/61) Director since 2004 Chairman since 2009	Co-Chief Executive Officer and Director, Markel Corp. (diversified financial holding company).	13	Director, Graham Holdings Company (educational and media company); Director, Cable ONE Inc. (cable service provider).

Samuel H. Iapalucci (07/19/52) Director since 2006	Retired; Executive Vice President and Chief Financial Officer, CH2M HILL Companies, Ltd. (engineering) until 2008.	13	None

Robert P. Morgenthau (03/22/57) Director since 2002	Principal, Spears Abacus Advisors, LLC (investment management firm) since 2011; Chairman, NorthRoad Capital Management, LLC (investment management firm) 2002-2011.	13	None

Lara N. Vaughan (04/20/69) Director since 2021	Chief Executive Officer and Chief Financial Officer of Parchman, Vaughan & Company, L.L.C. (investment bank).	13	None

Marsha C. Williams (03/28/51) Director since 1999	Retired; Senior Vice President and Chief Financial Officer, Orbitz Worldwide, Inc. (travel-service provider) 2007-2010.	13	Chairperson, Modine Manufacturing Company (heat transfer technology); Director, Fifth Third Bancorp (diversified financial services); Director, Crown Holdings, Inc. (manufacturing company).

Interested Directors*


Andrew A. Davis (06/25/63) Director since 1997	President or Vice President of each Davis Fund, Selected Fund, and Clipper Fund; President, Davis Selected Advisers, L.P., and also serves as an executive officer of certain companies affiliated with the Adviser.	16	Director, Selected Funds (consisting of two portfolios) since 1998; Trustee, Clipper Funds Trust (consisting of one portfolio) since 2014.

Christopher C. Davis (07/13/65) Director since 1997	President or Vice President of each Davis Fund, Selected Fund, Clipper Fund, and Davis ETF; Chairman, Davis Selected Advisers, L.P., and also serves as an executive officer of certain companies affiliated with the Adviser, including sole member of the Adviser’s general partner, Davis Investments, LLC.	16	Director, Selected Funds (consisting of two portfolios) since 1998; Trustee, Clipper Funds Trust (consisting of one portfolio) since 2014; Lead Independent Director, Graham Holdings Company (educational and media company); Director, The Coca-Cola Company (beverage company); Director, Berkshire Hathaway Inc. (financial services).

Officers

Andrew A. Davis (born 06/25/63, Davis Funds officer since 1997). See description in the section on Interested Directors.

Christopher C. Davis (born 07/13/65, Davis Funds officer since 1997). See description in the section on Interested Directors.

DAVIS RESEARCH FUND

Investment Adviser

Davis Selected Advisers, L.P. (Doing business as “Davis Advisors”)

2949 East Elvira Road, Suite 101

Tucson, Arizona 85756

(800) 279-0279

Distributor

Davis Distributors, LLC

2949 East Elvira Road, Suite 101

Tucson, Arizona 85756

Transfer Agent

DST Asset Manager Solutions, Inc.

c/o The Davis Funds

P.O. Box 219197

Kansas City, Missouri 64121-9197

Overnight Address:

430 West 7^th Street, Suite 219197

Kansas City, Missouri 64105-1407

Custodian

State Street Bank and Trust Co.

One Lincoln Street

Boston, Massachusetts 02111

Legal Counsel

Greenberg Traurig, LLP

1144 15^th Street, Suite 3300

Denver, Colorado 80202

Independent Registered Public Accounting Firm

KPMG LLP

4200 Wells Fargo Center

90 South 7th Street

Minneapolis, MN 55402

For more information about Davis Research Fund, including management fee, charges, and expenses, see the current prospectus, which must precede or accompany this report. The Fund’s Statement of Additional Information contains additional information about the Fund’s Directors and is available without charge, upon request, by calling 1-800-279-0279.

ITEM 2. CODE OF ETHICS

The registrant has adopted a code of ethics that applies to the registrant’s principal executive officer, principal financial officer, principal accounting officer or controller, or persons performing similar functions.

A copy of the code of ethics is filed as an exhibit to this form N-CSR.

No substantive amendments were approved or waivers granted to this code of ethics during the period covered by this report.

ITEM 3. AUDIT COMMITTEE FINANCIAL EXPERT

The registrant’s board of directors has determined that independent director Marsha Williams qualifies as the “audit committee financial expert”, as defined in Item 3 of form N-CSR.

ITEM 4. PRINCIPAL ACCOUNTANT FEES AND SERVICES

	(a)	Audit Fees. The aggregate Audit Fees billed by KPMP LLP (“KPMG”) for professional services rendered for the audits of the financial statements, or services that are normally provided in connection with statutory and regulatory filings or engagements for the fiscal year ends July 31, 2022 and July 31, 2021 were $125,104 and $118,048, respectively.

	(b)	Audit-Related Fees. The aggregate Audit-Related Fees billed by KPMG for services rendered for assurance and related services that are not reasonably related to the performance of the audit or review of the fund financial statements, but not reported as Audit Fees for fiscal year ends July 31, 2022 and July 31, 2021 were $0 and $0, respectively.

	(c)	Tax Fees. The aggregate Tax Fees billed by KPMG for professional services rendered for tax compliance, tax advice and tax planning for the fiscal year ends July 31, 2022 and July 31, 2021 were $19,995 and $18,550, respectively. Fees included in the Tax Fee category comprise all services performed by professional staff in the independent accountant’s tax division except those services related to the audit. These services include preparation of tax returns, tax advice related to mergers and a review of the fund income and capital gain distributions.

	(d)	All Other Fees. The aggregate Other Fees billed by KPMG for all other non-audit services rendered to the fund for the fiscal year ends July 31, 2022 and July 31, 2021 were $0 and $0, respectively.

	(e)(1)	Audit Committee Pre-Approval Policies and Procedures. The fund Audit Committee must pre-approve all audit and non-audit services provided by the independent accountant relating to the operations or financial reporting of the funds. Prior to the commencement of any audit or non-audit services to a fund, the Audit Committee reviews the services to determine whether they are appropriate and permissible under applicable law. The fund Audit Committee has adopted a policy whereby audit and non-audit services performed by the fund independent accountant require pre-approval in advance at regularly scheduled Audit Committee meetings. If such a service is required between regularly scheduled Audit Committee meetings, pre-approval may be authorized by the Audit Committee Chairperson with ratification at the next scheduled audit committee meeting.

	(e)(2)	No services included in (b) – (d) above were approved pursuant to paragraph (c)(7)(i)(C) of Rule 2-01 of Regulation S-X.

	(f)	Not applicable

	(g)	The Funds’ independent accountant did not provide any services to the investment advisor or any affiliate for the fiscal years ended July 31, 2022 and July 31, 2021. The fund has not paid any fees for non-audit not previously disclosed in items 4 (b) – (d).

	(h)	The registrant’s audit committee of the board of directors has considered whether the provision of non-audit services that were rendered to the registrant’s investment adviser, and any entity controlling, controlled by, or under common control with the investment adviser that provides ongoing services to the registrant that not pre-approved pursuant to paragraph (c)(7)(ii) of Rule 2-01 of Regulation S-X is compatible with maintaining the principal accountant’s independence. No such services were rendered.

ITEM 5. AUDIT COMMITTEE OF LISTED REGISTRANTS

Not Applicable

ITEM 6. SCHEDULE OF INVESTMENTS

	(a)	Not Applicable. The complete Schedule of Investments is included in Item 1 of this for N-CSR

	(b)	Not Applicable.

ITEM 7. DISCLOSURE OF PROXY VOTING POLICIES AND PROCEDURES FOR CLOSED-END MANAGEMENT INVESTMENT COMPANIES

Not Applicable

ITEM 8. PORTFOLIO MANAGERS OF CLOSED-END MANAGEMENT INVESTMENT COMPANIES

Not Applicable

ITEM 9. PURCHASES OF EQUITY SECURITIES BY CLOSED-END MANAGEMENT INVESTMENT COMPANIES AND AFFILIATED PURCHASERS

Not Applicable

ITEM 10. SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS

There have been no changes to the procedure by which shareholders may recommend nominees to the registrant’s Board of Directors.

ITEM 11. CONTROLS AND PROCUDURES

	(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-2 (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.

ITEM 12. DISCLOSURE OF SECURITIES LENDING ACTIVITIES FOR CLOSED-END MANAGEMENT INVESTMENT COMPANIES

Not Applicable.

ITEM 13. EXHIBITS

(a)(1)	The registrant’s code of ethics pursuant to Item 2 of Form N-CSR is filed as an exhibit to this form N-CSR.

(a)(2)	Certifications pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 are attached.

(b)	Certifications pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 are attached.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

DAVIS NEW YORK VENTURE FUND, INC.

By	/s/ Kenneth C. Eich
	Kenneth C. Eich
	Principal Executive Officer

Date: September 21, 2022

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

By	/s/ Kenneth C. Eich
	Kenneth C. Eich
	Principal Executive Officer

Date: September 21, 2022

By	/s/ Douglas A. Haines
	Douglas A. Haines
	Principal Financial Officer and Principal Accounting Officer

Date: September 21, 2022