Davis Asset Management, L.P.

In its 13F for Q2 2024 (holdings as of June 30, 2024, filed August 13, 2024), Davis Asset Management, L.P. reported 34 stock positions worth $2.2 billion. Its top holding was Meta Platforms Class A (META) at 11.3% of the portfolio, followed by Alphabet Class C (GOOG, 8.2%) and Western Alliance Bancorp (WAL, 7.1%). Compared with Q1 2024, it opened 1 new position, added to 2 and reduced 3. The biggest buy was a new position in Old Second Bancorp (OSBC) and the biggest sale KKR (KKR, shares −30%).

Most Recent 13F
Q2 2026
Location
SAUSALITO, CA
CIK
0001945894
Portfolio Value
$2.2B (Q2 2024)
SEC Filing
0001104659-24-088909 ↗ filed Aug 13, 2024

Holdings Value

0$1.0B$2.0B$3.0B$4.0B Q1 2024: $2.3B Q1 2024 Q2 2024: $2.2B $2.2B Q2 2024 Q3 2024: $2.5B Q3 2024 Q4 2024: $2.5B Q4 2024 Q1 2025: $2.4B Q1 2025 Q2 2025: $2.6B Q2 2025 Q3 2025: $2.8B Q3 2025 Q4 2025: $2.8B Q4 2025 Q1 2026: $3.5B Q1 2026 Q2 2026: $3.9B Q2 2026

Holdings 34 stocks · $2.2B
META Meta Platforms Inc. Class A 11.32% 500,000 $252.1M No change
GOOG Alphabet Inc. Class C 8.24% 1,000,000 $183.4M No change
WAL Western Alliance Bancorp 7.05% 2,500,000 $157.1M No change
GPN Global Payments Inc. 5.65% 1,300,000 $125.7M Add +18.2%
CB Chubb Ltd. 5.16% 450,000 $114.8M No change
STT State Street Corp. 3.99% 1,200,000 $88.8M No change
CRBG Corebridge Financial Inc. 3.92% 3,000,000 $87.4M No change
WBS Webster Financial Corp. 3.92% 2,000,000 $87.2M No change
AX Axos Financial Inc. 3.85% 1,500,000 $85.7M No change
BRK.B Berkshire Hathaway Inc. Class B 3.65% 200,000 $81.4M No change
V Visa Inc. Class A 3.54% 300,000 $78.7M No change
KKR KKR & Co. Inc. 3.31% 700,000 $73.7M Reduce -30.0%
BRK.A Berkshire Hathaway Inc. Class A 3.30% 120 $73.5M No change
VMRK Vivmark Residential filed as EQUITY RESIDENTIAL 3.11% 1,000,000 $69.3M No change
CG The Carlyle Group Inc. 2.70% 1,500,000 $60.2M No change
ACGL Arch Capital Group Ltd. 2.49% 550,000 $55.5M Reduce -15.4%
MKL Markel Group Inc. 2.48% 35,000 $55.1M No change
MTB M & T Bank Corp. filed as M & T BK CORP 2.35% 345,000 $52.2M No change
SFBS Servisfirst Bancshares Inc. 2.34% 823,562 $52.0M No change
TCBK Trico Bancshares 1.81% 1,020,800 $40.4M No change
USB US Bancorp 1.78% 1,000,000 $39.7M No change
MA Mastercard Inc. Class A 1.68% 85,000 $37.5M No change
RJF Raymond James Financial Inc. 1.67% 300,000 $37.1M No change
BABA Alibaba Group Holding-SP ADR 1.62% 500,000 $36.0M No change
FSBC Five Star Bancorp 1.61% 1,511,500 $35.7M Add +3.4%
GS Goldman Sachs Group Inc. 1.42% 70,000 $31.7M Reduce -41.7%
JLL Jones Lang Lasalle Inc. 1.38% 150,000 $30.8M No change
FCNCA First Citizens Bcshs Class A 1.07% 14,200 $23.9M No change
SSBK Southern States Bancshares 0.94% 774,046 $21.0M No change
ABCB Ameris Bancorp 0.90% 400,000 $20.1M No change
CCNE CNB Financial Corp. 0.64% 700,000 $14.3M No change
GBCI Glacier Bancorp Inc. 0.50% 296,749 $11.1M No change
OSBC Old Second Bancorp Inc. 0.39% 582,268 $8.6M New
TSBK Timberland Bancorp Inc. 0.21% 174,476 $4.7M No change

Portfolio Sells Q1 2024 → Q2 2024
KKR KKR & Co. Inc. Reduce -30.0% 3.31% −1.10
GS Goldman Sachs Group Inc. Reduce -41.7% 1.42% −0.78
ACGL Arch Capital Group Ltd. Reduce -15.4% 2.49% −0.14

Portfolio Buys Q1 2024 → Q2 2024
OSBC Old Second Bancorp Inc. New 0.39% +0.39
FSBC Five Star Bancorp Add +3.4% 1.61% +0.16
GPN Global Payments Inc. Add +18.2% 5.65% −0.80

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 85$3.9BGOOG, BRK.A, META, WAL, MKL
Q1 2026 85$3.5BBRK.A, META, GOOG, WAL, CB
Q4 2025 30$2.8BMETA, GOOG, WAL, CB, WBS
Q3 2025 31$2.8BMETA, GOOG, WAL, STT, CB
Q2 2025 31$2.6BMETA, WAL, GOOG, CB, STT
Q1 2025 31$2.4BMETA, WAL, GOOG, GPN, CB
Q4 2024 31$2.5BMETA, WAL, GOOG, GPN, CB
Q3 2024 33$2.5BMETA, WAL, GOOG, GPN, CB
Q2 2024 34$2.2BMETA, GOOG, WAL, GPN, CB
Q1 2024 33$2.3BMETA, WAL, GOOG, GPN, CB