Davis Selected Advisers
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 8, 2025), Davis Selected Advisers reported 107 stock positions worth $18.7 billion. Its top holding was Capital One Financial (COF) at 10.2% of the portfolio, followed by Meta Platforms Class A (META, 8.3%) and Applied Materials (AMAT, 4.9%). Compared with Q1 2025, it opened 8 new positions, sold out of 5, added to 43 and reduced 49. The biggest buy was Unitedhealth (UNH, shares +2235%) and the biggest sale Berkshire Hathaway Class A (BRK.A, shares −32%).
- Most Recent 13F
- Q2 2026
- Location
- Tucson, AZ
- CIK
- 0001036325
- Portfolio Value
- $18.7B (Q2 2025)
- SEC Filing
- 0000071701-25-000029 ↗ filed Aug 8, 2025
Holdings Value
Holdings 107 stocks · $18.7B
| COF Capital One Financial Corp. | 10.19% | 8,955,742 | $1.9B | Reduce -0.5% |
| META Meta Platforms Inc. Class A | 8.32% | 2,107,814 | $1.6B | Reduce -4.6% |
| AMAT Applied Materials Inc. | 4.85% | 4,957,593 | $907.6M | Reduce -0.7% |
| USB US Bancorp | 4.68% | 19,331,637 | $874.8M | Add +29.8% |
| MGM MGM Resorts International | 4.38% | 23,821,109 | $819.2M | Add +14.4% |
| CVS CVS Health Corp. | 4.27% | 11,586,790 | $799.3M | Add +0.3% |
| BRK.A Berkshire Hathaway Inc. Class A | 4.15% | 1,065 | $776.2M | Reduce -31.6% |
| MKL Markel Group Inc. | 3.96% | 371,131 | $741.3M | Reduce -0.1% |
| AMZN Amazon.com Inc. | 3.83% | 3,269,161 | $717.2M | Reduce -7.1% |
| WFC Wells Fargo & Co. | 3.50% | 8,176,423 | $655.1M | Reduce -3.5% |
| VTRS Viatris Inc. | 3.17% | 66,375,520 | $592.7M | Add +2.2% |
| GOOGL Alphabet Inc. Class A | 2.69% | 2,854,413 | $503.0M | Reduce -6.1% |
| TSN Tyson Foods Inc. Class A | 2.68% | 8,956,466 | $501.0M | Add +91.4% |
| TXN Texas Instruments Inc. | 2.64% | 2,380,207 | $494.2M | Reduce -2.1% |
| TECK Teck Resources Ltd.-CLS B | 2.38% | 11,034,993 | $445.6M | Reduce -1.4% |
| SOLV Solventum Corp. | 2.23% | 5,492,661 | $416.6M | Add +3.9% |
| HUM Humana Inc. | 2.16% | 1,652,734 | $404.1M | Reduce -29.1% |
| UNH Unitedhealth Group Inc. | 1.89% | 1,132,885 | $353.4M | Add +2234.9% |
| CB Chubb Ltd. | 1.66% | 1,071,823 | $310.5M | Reduce -1.3% |
| TCOM Trip.com Group Ltd.-ADR | 1.55% | 4,949,468 | $290.2M | Add +1.8% |
| BRK.B Berkshire Hathaway Inc. Class B | 1.44% | 553,845 | $269.0M | Reduce -18.4% |
| DGX Quest Diagnostics Inc. | 1.30% | 1,354,420 | $243.3M | Reduce -43.3% |
| OC Owens Corning | 1.30% | 1,769,093 | $243.3M | Reduce -1.0% |
| CTRA Coterra Energy Inc. | 1.27% | 9,338,141 | $237.0M | New |
| QSR Restaurant Brands Intern | 1.21% | 3,419,715 | $226.7M | Add +1.4% |
| CI The Cigna Group | 1.16% | 655,889 | $216.8M | Reduce -54.2% |
| AGCO Agco Corp. | 1.00% | 1,804,564 | $186.2M | Reduce -11.0% |
| JPM JPMorgan Chase & Co. | 0.99% | 636,042 | $184.4M | Reduce -0.6% |
| BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP | 0.92% | 1,898,430 | $173.0M | Reduce -0.6% |
| CPNG Coupang Inc. | 0.92% | 5,754,998 | $172.4M | Reduce -2.1% |
| DUSA Davis Select US Equity ETF | 0.84% | 3,383,338 | $156.6M | No change |
| COP Conocophillips | 0.76% | 1,585,587 | $142.3M | Add +13.1% |
| YMM Full Truck Alliance -SPN ADR | 0.73% | 11,635,925 | $137.4M | Add +48.8% |
| MSFT Microsoft Corp. | 0.66% | 247,956 | $123.3M | Reduce -3.3% |
| GOOG Alphabet Inc. Class C | 0.62% | 650,390 | $115.4M | Add +0.6% |
| FITB Fifth Third Bancorp | 0.55% | 2,512,856 | $103.4M | Add +2.1% |
| DINT Davis Select International | 0.54% | 3,890,080 | $100.6M | No change |
| PNC PNC Financial Services Group | 0.50% | 502,357 | $93.6M | Add +1.3% |
| DAR Darling Ingredients Inc. | 0.50% | 2,443,570 | $92.7M | Reduce -1.3% |
| DFNL Davis Select Financial ETF | 0.49% | 2,129,860 | $91.5M | No change |
| AXP American Express Co. | 0.46% | 270,500 | $86.3M | Reduce -0.3% |
| PPLI People Inc. filed as IAC INC | 0.46% | 2,280,775 | $85.2M | Reduce -14.2% |
| NTES Netease Inc.-ADR | 0.43% | 593,347 | $79.9M | Reduce -0.5% |
| DWLD Davis Select Worldwide ETF | 0.42% | 1,916,287 | $79.4M | No change |
| APP AppLovin Corp. Class A | 0.40% | 215,073 | $75.3M | Add +31.9% |
| SE Sea Ltd.-ADR | 0.38% | 448,305 | $71.7M | Reduce -12.9% |
| L Loews Corp. | 0.29% | 597,343 | $54.8M | Reduce -0.3% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.29% | 1,153,397 | $54.6M | Reduce -0.2% |
| WCC Wesco International Inc. | 0.29% | 290,746 | $53.8M | Add +12.5% |
| NTB Bank of N.T. Butterfield&son | 0.25% | 1,062,264 | $47.0M | Reduce -0.6% |
| RKT Rocket Cos Inc. Class A | 0.24% | 3,132,678 | $44.4M | Reduce -0.2% |
| RNR Renaissancere Holdings Ltd. | 0.19% | 143,067 | $34.8M | Reduce -0.5% |
| BEKE Ke Holdings Inc.-ADR filed as KE HLDGS INC | 0.18% | 1,852,812 | $32.9M | Reduce -0.4% |
| ORCL Oracle Corp. | 0.15% | 131,574 | $28.8M | Reduce -3.5% |
| VALE Vale SA-SP ADR | 0.15% | 2,948,514 | $28.6M | Add +7.9% |
| SCHW Schwab (charles) Corp. | 0.14% | 296,438 | $27.0M | Reduce -0.4% |
| JCI Johnson Controls Internation | 0.14% | 245,323 | $25.9M | Reduce -39.3% |
| AMT American Tower Corp. | 0.11% | 91,650 | $20.3M | Add +3.0% |
| ANGI Angi Inc. | 0.10% | 1,181,911 | $18.0M | New |
| SAP Sap SE-Sponsored ADR | 0.08% | 46,769 | $14.2M | Reduce -38.6% |
| BXP BXP Inc. | 0.08% | 209,630 | $14.1M | Add +3.0% |
| NVDA Nvidia Corp. | 0.08% | 89,135 | $14.1M | New |
| CUZ Cousins Properties Inc. | 0.07% | 460,235 | $13.8M | Add +3.0% |
| PLD Prologis Inc. | 0.07% | 129,226 | $13.6M | Reduce -24.8% |
| EG Everest Group Ltd. | 0.07% | 39,500 | $13.4M | Reduce -0.4% |
| REXR Rexford Industrial Realty Inc. | 0.07% | 375,010 | $13.3M | Add +3.1% |
| BRX Brixmor Property Group Inc. | 0.07% | 498,390 | $13.0M | Add +2.9% |
| VTR Ventas Inc. | 0.07% | 203,350 | $12.8M | Reduce -18.7% |
| EQIX Equinix Inc. | 0.07% | 15,663 | $12.5M | Add +1.9% |
| NOAH Noah Holdings Ltd.-Spon ADS filed as NOAH HLDGS LTD | 0.07% | 1,021,585 | $12.2M | Reduce -38.3% |
| DLR Digital Realty Trust Inc. | 0.06% | 68,460 | $11.9M | Add +2.0% |
| PSA Public Storage | 0.06% | 40,400 | $11.9M | Reduce -18.8% |
| AVB Avalonbay Communities Inc. | 0.06% | 57,820 | $11.8M | Add +2.1% |
| ARE Alexandria Real Estate Equit | 0.06% | 156,187 | $11.3M | Add +3.2% |
| JD Jd.com Inc.-ADR | 0.06% | 343,487 | $11.2M | Reduce -0.6% |
| SHO Sunstone Hotel Investors Inc. | 0.05% | 1,155,480 | $10.0M | Add +45.9% |
| MTB M & T Bank Corp. filed as M & T BK CORP | 0.05% | 50,948 | $9.9M | Reduce -0.5% |
| SPG Simon Property Group Inc. | 0.05% | 58,723 | $9.4M | Reduce -13.7% |
| AMH American Homes 4 Rent- A | 0.05% | 250,360 | $9.0M | Add +3.0% |
| CPT Camden Property Trust | 0.05% | 78,650 | $8.9M | Add +2.8% |
| REG Regency Centers Corp. | 0.05% | 121,830 | $8.7M | Add +3.1% |
| EXR Extra Space Storage Inc. | 0.04% | 56,765 | $8.4M | Reduce -0.0% |
| ESS Essex Property Trust Inc. | 0.04% | 28,541 | $8.1M | Add +2.9% |
| MAA Mid-America Apartment Comm | 0.04% | 53,050 | $7.9M | Add +3.1% |
| EGP Eastgroup Properties Inc. | 0.04% | 46,130 | $7.7M | Add +3.1% |
| STT State Street Corp. | 0.04% | 72,251 | $7.7M | Reduce -0.6% |
| VMRK Vivmark Residential filed as EQUITY RESIDENTIAL | 0.04% | 101,725 | $6.9M | Add +1.9% |
| DOC Healthpeak Properties Inc. | 0.04% | 389,186 | $6.8M | Add +57.7% |
| TFC Truist Financial Corp. | 0.04% | 155,845 | $6.7M | Reduce -0.4% |
| UDR Udr Inc. | 0.04% | 161,990 | $6.6M | Add +2.1% |
| HUDSON PAC PPTYS INC | 0.03% | 2,295,973 | $6.3M | Reduce -0.0% |
| TRNO Terreno Realty Corp. | 0.03% | 104,197 | $5.8M | Add +3.3% |
| VICI Vici Properties Inc. filed as VICI PPTYS INC | 0.03% | 169,740 | $5.5M | Add +18.3% |
| CHCT Community Healthcare Trust I | 0.03% | 332,280 | $5.5M | Add +10.1% |
| SUI Sun Communities Inc. filed as SUN CMNTYS INC | 0.03% | 38,370 | $4.9M | Add +53.2% |
| CCI Crown Castle Inc. | 0.02% | 42,300 | $4.3M | Add +3.2% |
| DEI Douglas Emmett Inc. | 0.02% | 276,750 | $4.2M | Add +3.0% |
| CDP Copt Defense Properties | 0.02% | 147,490 | $4.1M | New |
| NTST Netstreit Corp. | 0.02% | 220,510 | $3.7M | Add +91.8% |
| O Realty Income Corp. | 0.02% | 48,870 | $2.8M | New |
Portfolio Sells Q1 2025 → Q2 2025
| BRK.A Berkshire Hathaway Inc. Class A | Reduce -31.6% | 4.15% | −3.02 |
| CI The Cigna Group | Reduce -54.2% | 1.16% | −1.56 |
| HUM Humana Inc. | Reduce -29.1% | 2.16% | −1.40 |
| DGX Quest Diagnostics Inc. | Reduce -43.3% | 1.30% | −1.03 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -18.4% | 1.44% | −0.64 |
| PPLI People Inc. | Reduce -14.2% | 0.46% | −0.25 |
| CB Chubb Ltd. | Reduce -1.3% | 1.66% | −0.23 |
| OC Owens Corning | Reduce -1.0% | 1.30% | −0.17 |
| YOU Clear Secure Inc. Class A | Sold out | 0.00% | −0.09 |
| AGCO Agco Corp. | Reduce -11.0% | 1.00% | −0.09 |
| JCI Johnson Controls Internation | Reduce -39.3% | 0.14% | −0.05 |
| SAP Sap SE-Sponsored ADR | Reduce -38.6% | 0.08% | −0.04 |
| BEKE Ke Holdings Inc.-ADR | Reduce -0.4% | 0.18% | −0.04 |
| MKL Markel Group Inc. | Reduce -0.1% | 3.96% | −0.04 |
| PLD Prologis Inc. | Reduce -24.8% | 0.07% | −0.04 |
| VTR Ventas Inc. | Reduce -18.7% | 0.07% | −0.03 |
| AMZN Amazon.com Inc. | Reduce -7.1% | 3.83% | −0.03 |
| NOAH Noah Holdings Ltd.-Spon ADS | Reduce -38.3% | 0.07% | −0.02 |
| L Loews Corp. | Reduce -0.3% | 0.29% | −0.02 |
| PSA Public Storage | Reduce -18.8% | 0.06% | −0.02 |
| HIW Highwoods Properties Inc. | Sold out | 0.00% | −0.02 |
| JD Jd.com Inc.-ADR | Reduce -0.6% | 0.06% | −0.02 |
| GOOGL Alphabet Inc. Class A | Reduce -6.1% | 2.69% | −0.02 |
| FRT Federal Realty Invs Trust | Sold out | 0.00% | −0.02 |
| SPG Simon Property Group Inc. | Reduce -13.7% | 0.05% | −0.01 |
| RNR Renaissancere Holdings Ltd. | Reduce -0.5% | 0.19% | −0.01 |
| EG Everest Group Ltd. | Reduce -0.4% | 0.07% | −0.01 |
| IVE iShares S&P 500 Value ETF | Reduce -44.3% | 0.01% | −0.01 |
| HUDSON PAC PPTYS INC | Reduce -0.0% | 0.03% | −0.01 |
| EXR Extra Space Storage Inc. | Reduce -0.0% | 0.04% | −0.00 |
| SE Sea Ltd.-ADR | Reduce -12.9% | 0.38% | −0.00 |
| SKX Skechers USA Inc. Class A | Sold out | 0.00% | −0.00 |
| INTC Intel Corp. | Sold out | 0.00% | −0.00 |
| WFC Wells Fargo & Co. | Reduce -3.5% | 3.50% | −0.00 |
| TFC Truist Financial Corp. | Reduce -0.4% | 0.04% | −0.00 |
| MTB M & T Bank Corp. | Reduce -0.5% | 0.05% | +0.00 |
| BNY Bank of New York Mellon Corp. | Reduce -0.6% | 0.92% | +0.00 |
| STT State Street Corp. | Reduce -0.6% | 0.04% | +0.00 |
| SCHW Schwab (charles) Corp. | Reduce -0.4% | 0.14% | +0.01 |
| NTB Bank of N.T. Butterfield&son | Reduce -0.6% | 0.25% | +0.01 |
| BAC Bank of America Corp. | Reduce -0.2% | 0.29% | +0.01 |
| RKT Rocket Cos Inc. Class A | Reduce -0.2% | 0.24% | +0.02 |
| TECK Teck Resources Ltd.-CLS B | Reduce -1.4% | 2.38% | +0.03 |
| AXP American Express Co. | Reduce -0.3% | 0.46% | +0.04 |
| ORCL Oracle Corp. | Reduce -3.5% | 0.15% | +0.04 |
| DAR Darling Ingredients Inc. | Reduce -1.3% | 0.50% | +0.05 |
| NTES Netease Inc.-ADR | Reduce -0.5% | 0.43% | +0.07 |
| JPM JPMorgan Chase & Co. | Reduce -0.6% | 0.99% | +0.08 |
| MSFT Microsoft Corp. | Reduce -3.3% | 0.66% | +0.10 |
| TXN Texas Instruments Inc. | Reduce -2.1% | 2.64% | +0.12 |
Portfolio Buys Q1 2025 → Q2 2025
| UNH Unitedhealth Group Inc. | Add +2234.9% | 1.89% | +1.74 |
| CTRA Coterra Energy Inc. | New | 1.27% | +1.27 |
| USB US Bancorp | Add +29.8% | 4.68% | +1.05 |
| TSN Tyson Foods Inc. Class A | Add +91.4% | 2.68% | +0.96 |
| MGM MGM Resorts International | Add +14.4% | 4.38% | +0.82 |
| YMM Full Truck Alliance -SPN ADR | Add +48.8% | 0.73% | +0.16 |
| APP AppLovin Corp. Class A | Add +31.9% | 0.40% | +0.15 |
| ANGI Angi Inc. | New | 0.10% | +0.10 |
| NVDA Nvidia Corp. | New | 0.08% | +0.08 |
| WCC Wesco International Inc. | Add +12.5% | 0.29% | +0.06 |
| GOOG Alphabet Inc. Class C | Add +0.6% | 0.62% | +0.03 |
| CDP Copt Defense Properties | New | 0.02% | +0.02 |
| O Realty Income Corp. | New | 0.02% | +0.02 |
| SHO Sunstone Hotel Investors Inc. | Add +45.9% | 0.05% | +0.01 |
| NTST Netstreit Corp. | Add +91.8% | 0.02% | +0.01 |
| TSM Taiwan Semiconductor-SP ADR | New | 0.01% | +0.01 |
| DLR Digital Realty Trust Inc. | Add +2.0% | 0.06% | +0.01 |
| DOC Healthpeak Properties Inc. | Add +57.7% | 0.04% | +0.01 |
| SUI Sun Communities Inc. | Add +53.2% | 0.03% | +0.01 |
| VICI Vici Properties Inc. | Add +18.3% | 0.03% | +0.00 |
| AAPL Apple Inc. | New | 0.00% | +0.00 |
| XOM Exxon Mobil Corp. | New | 0.00% | +0.00 |
| CCI Crown Castle Inc. | Add +3.2% | 0.02% | −0.00 |
| PNC PNC Financial Services Group | Add +1.3% | 0.50% | −0.00 |
| CHCT Community Healthcare Trust I | Add +10.1% | 0.03% | −0.00 |
| CUZ Cousins Properties Inc. | Add +3.0% | 0.07% | −0.00 |
| DEI Douglas Emmett Inc. | Add +3.0% | 0.02% | −0.00 |
| AMT American Tower Corp. | Add +3.0% | 0.11% | −0.00 |
| BXP BXP Inc. | Add +3.0% | 0.08% | −0.00 |
| FITB Fifth Third Bancorp | Add +2.1% | 0.55% | −0.00 |
| REG Regency Centers Corp. | Add +3.1% | 0.05% | −0.00 |
| EGP Eastgroup Properties Inc. | Add +3.1% | 0.04% | −0.00 |
| VALE Vale SA-SP ADR | Add +7.9% | 0.15% | −0.00 |
| VMRK Vivmark Residential | Add +1.9% | 0.04% | −0.00 |
| AMH American Homes 4 Rent- A | Add +3.0% | 0.05% | −0.00 |
| BRX Brixmor Property Group Inc. | Add +2.9% | 0.07% | −0.00 |
| TRNO Terreno Realty Corp. | Add +3.3% | 0.03% | −0.01 |
| EQIX Equinix Inc. | Add +1.9% | 0.07% | −0.01 |
| ESS Essex Property Trust Inc. | Add +2.9% | 0.04% | −0.01 |
| UDR Udr Inc. | Add +2.1% | 0.04% | −0.01 |
| CPT Camden Property Trust | Add +2.8% | 0.05% | −0.01 |
| AVB Avalonbay Communities Inc. | Add +2.1% | 0.06% | −0.01 |
| MAA Mid-America Apartment Comm | Add +3.1% | 0.04% | −0.01 |
| REXR Rexford Industrial Realty Inc. | Add +3.1% | 0.07% | −0.01 |
| ARE Alexandria Real Estate Equit | Add +3.2% | 0.06% | −0.02 |
| QSR Restaurant Brands Intern | Add +1.4% | 1.21% | −0.08 |
| COP Conocophillips | Add +13.1% | 0.76% | −0.09 |
| SOLV Solventum Corp. | Add +3.9% | 2.23% | −0.09 |
| VTRS Viatris Inc. | Add +2.2% | 3.17% | −0.09 |
| TCOM Trip.com Group Ltd.-ADR | Add +1.8% | 1.55% | −0.23 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 112 | $23.3B | COF, USB, CVS, VTRS, MGM |
| Q1 2026 | 112 | $21.8B | COF, CTRA, USB, VTRS, META |
| Q4 2025 | 108 | $22.2B | COF, USB, META, AMAT, CVS |
| Q3 2025Amended | 107 | $19.2B | COF, META, AMAT, USB, CVS |
| Q2 2025 | 107 | $18.7B | COF, META, AMAT, USB, MGM |
| Q1 2025 | 104 | $17.3B | COF, META, BRK.A, CVS, AMAT |
| Q4 2024 | 100 | $17.2B | COF, META, BRK.A, AMZN, VTRS |
| Q3 2024 | 102 | $17.8B | META, COF, BRK.A, AMAT, WFC |
| Q2 2024 | 102 | $17.2B | META, COF, BRK.A, AMZN, AMAT |
| Q1 2024Amended | 98 | $17.8B | META, COF, WFC, BRK.A, AMZN |