Paccar (PCAR) is an example of an out-of-the-spotlight holding in the Portfolio. Although not a household name, this more than 100-year-old company is the largest manufacturer of trucks in North America and also has a substantial and growing global presence. Paccar’s brands, including Kenworth and Peterbilt in the United States and DAF in Europe, have earned a reputation for high quality and longevity. Financially strong and resilient, the company regularly buys back shares and has paid a dividend every year since 1941. Management’s interests are aligned with shareholders’ as Paccar’s founding family owns nearly 30% of the company.
From Chris Davis' Davis New York Venture Fund First Quarter 2014 Update.
