Davis Selected Advisers

In its 13F for Q3 2025 (holdings as of September 30, 2025, filed December 29, 2025), Davis Selected Advisers reported 107 stock positions worth $19.2 billion. Its top holding was Capital One Financial (COF) at 9.3% of the portfolio, followed by Meta Platforms Class A (META, 6.6%) and Applied Materials (AMAT, 5.9%). Compared with Q2 2025, it opened 3 new positions, sold out of 3, added to 59 and reduced 36. The biggest buy was a new position in Pinterest Class A (PINS) and the biggest sale Meta Platforms Class A (META, shares −19%).

Most Recent 13F
Q2 2026
Location
Tucson, AZ
CIK
0001036325
Portfolio Value
$19.2B (Q3 2025)
SEC Filing
0001036325-25-000050 ↗ filed Dec 29, 2025

Holdings Value

0$5.0B$10.0B$15.0B$20.0B$25.0B Q1 2024: $17.8B Q1 2024 Q2 2024: $17.2B Q2 2024 Q3 2024: $17.8B Q3 2024 Q4 2024: $17.2B Q4 2024 Q1 2025: $17.3B Q1 2025 Q2 2025: $18.7B Q2 2025 Q3 2025: $19.2B $19.2B Q3 2025 Q4 2025: $22.2B Q4 2025 Q1 2026: $21.8B Q1 2026 Q2 2026: $23.3B Q2 2026

Holdings 107 stocks · $19.2B
COF Capital One Financial Corp. 9.30% 8,380,117 $1.8B Reduce -6.4%
META Meta Platforms Inc. Class A 6.58% 1,715,514 $1.3B Reduce -18.6%
AMAT Applied Materials Inc. 5.94% 5,553,992 $1.1B Add +12.0%
USB US Bancorp 4.90% 19,431,562 $939.1M Add +0.5%
CVS CVS Health Corp. 4.49% 11,403,641 $859.7M Reduce -1.6%
MGM MGM Resorts International 4.33% 23,953,452 $830.2M Add +0.6%
BRK.A Berkshire Hathaway Inc. Class A 3.93% 998 $752.7M Reduce -6.3%
MKL Markel Group Inc. 3.73% 373,528 $713.9M Add +0.7%
AMZN Amazon.com Inc. 3.60% 3,137,986 $689.0M Reduce -4.0%
VTRS Viatris Inc. 3.58% 69,345,645 $686.5M Add +4.5%
GOOGL Alphabet Inc. Class A 3.52% 2,770,594 $673.5M Reduce -2.9%
WFC Wells Fargo & Co. 3.41% 7,786,052 $652.6M Reduce -4.8%
TSN Tyson Foods Inc. Class A 2.82% 9,962,127 $540.9M Add +11.2%
TECK Teck Resources Ltd.-CLS B 2.53% 11,023,662 $483.8M Reduce -0.1%
CTRA Coterra Energy Inc. 2.46% 19,883,481 $470.2M Add +112.9%
TXN Texas Instruments Inc. 2.22% 2,317,408 $425.8M Reduce -2.6%
SOLV Solventum Corp. 2.10% 5,517,611 $402.8M Add +0.5%
UNH Unitedhealth Group Inc. 2.05% 1,139,303 $393.4M Add +0.6%
TCOM Trip.com Group Ltd.-ADR 1.94% 4,941,445 $371.6M Reduce -0.2%
CB Chubb Ltd. 1.58% 1,070,445 $302.1M Reduce -0.1%
BRK.B Berkshire Hathaway Inc. Class B 1.40% 533,948 $268.4M Reduce -3.6%
DGX Quest Diagnostics Inc. 1.35% 1,361,612 $259.5M Add +0.5%
PINS Pinterest Inc. Class A 1.33% 7,892,057 $253.9M New
OC Owens Corning 1.31% 1,777,367 $251.4M Add +0.5%
QSR Restaurant Brands Intern 1.19% 3,542,388 $227.2M Add +3.6%
YMM Full Truck Alliance -SPN ADR 1.01% 14,981,773 $194.3M Add +28.8%
AGCO Agco Corp. 1.01% 1,812,922 $194.1M Add +0.5%
CI The Cigna Group 0.99% 656,318 $189.2M Add +0.1%
JPM JPMorgan Chase & Co. 0.98% 595,626 $187.9M Reduce -6.3%
DUSA Davis Select US Equity ETF 0.85% 3,383,338 $162.1M No change
APP AppLovin Corp. Class A 0.84% 223,574 $160.6M Add +4.0%
GOOG Alphabet Inc. Class C 0.82% 646,051 $157.3M Reduce -0.7%
COP Conocophillips 0.79% 1,599,311 $151.3M Add +0.9%
FITB Fifth Third Bancorp 0.62% 2,668,869 $118.9M Add +6.2%
BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP 0.57% 1,010,681 $110.1M Reduce -46.8%
DINT Davis Select International 0.57% 3,890,080 $108.8M No change
PNC PNC Financial Services Group 0.53% 501,817 $100.8M Reduce -0.1%
HUM Humana Inc. 0.52% 385,539 $100.3M Reduce -76.7%
DFNL Davis Select Financial ETF 0.50% 2,129,860 $96.3M No change
NTES Netease Inc.-ADR 0.47% 594,740 $90.4M Add +0.2%
DWLD Davis Select Worldwide ETF 0.45% 1,916,287 $86.7M No change
AXP American Express Co. 0.43% 247,940 $82.4M Reduce -8.3%
SE Sea Ltd.-ADR 0.41% 440,594 $78.7M Reduce -1.7%
PPLI People Inc. filed as IAC INC 0.40% 2,243,689 $76.4M Reduce -1.6%
DAR Darling Ingredients Inc. 0.40% 2,453,940 $75.8M Add +0.4%
WCC Wesco International Inc. 0.32% 292,570 $61.9M Add +0.6%
RKT Rocket Cos Inc. Class A 0.32% 3,134,234 $60.7M Add +0.1%
L Loews Corp. 0.31% 595,697 $59.8M Reduce -0.3%
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.31% 1,150,589 $59.4M Reduce -0.2%
CHYM Chime Financial Inc. Class A 0.25% 2,399,166 $48.4M New
NTB Bank of N.T. Butterfield&son 0.24% 1,058,793 $45.4M Reduce -0.3%
RNR Renaissancere Holdings Ltd. 0.19% 143,145 $36.3M Add +0.1%
BEKE Ke Holdings Inc.-ADR filed as KE HLDGS INC 0.18% 1,851,804 $35.2M Reduce -0.1%
VALE Vale SA-SP ADR 0.17% 2,931,198 $31.8M Reduce -0.6%
SCHW Schwab (charles) Corp. 0.15% 296,441 $28.3M Add +0.0%
MSFT Microsoft Corp. 0.14% 52,306 $27.1M Reduce -78.9%
PLD Prologis Inc. 0.12% 198,166 $22.7M Add +53.4%
JCI Johnson Controls Internation 0.11% 186,004 $20.5M Reduce -24.2%
ORCL Oracle Corp. 0.10% 67,052 $18.9M Reduce -49.0%
BXP BXP Inc. 0.09% 239,760 $17.8M Add +14.4%
EQIX Equinix Inc. 0.09% 21,803 $17.1M Add +39.2%
NVDA Nvidia Corp. 0.09% 89,795 $16.8M Add +0.7%
REXR Rexford Industrial Realty Inc. 0.08% 395,150 $16.2M Add +5.4%
BRX Brixmor Property Group Inc. 0.08% 570,000 $15.8M Add +14.4%
ANGI Angi Inc. 0.08% 949,006 $15.4M Reduce -19.7%
ARE Alexandria Real Estate Equit 0.08% 180,157 $15.0M Add +15.3%
CUZ Cousins Properties Inc. 0.08% 512,355 $14.8M Add +11.3%
SPG Simon Property Group Inc. 0.08% 76,733 $14.4M Add +30.7%
DLR Digital Realty Trust Inc. 0.07% 81,280 $14.1M Add +18.7%
EG Everest Group Ltd. 0.07% 39,428 $13.8M Reduce -0.2%
PSA Public Storage 0.07% 44,610 $12.9M Add +10.4%
AVB Avalonbay Communities Inc. 0.07% 66,580 $12.9M Add +15.2%
AMT American Tower Corp. 0.07% 65,670 $12.6M Reduce -28.4%
SAP Sap SE-Sponsored ADR 0.07% 46,787 $12.5M Add +0.0%
SHO Sunstone Hotel Investors Inc. 0.06% 1,311,800 $12.3M Add +13.5%
STT State Street Corp. 0.06% 103,785 $12.0M Add +43.6%
JD Jd.com Inc.-ADR 0.06% 341,711 $12.0M Reduce -0.5%
NOAH Noah Holdings Ltd.-Spon ADS filed as NOAH HLDGS LTD 0.06% 1,021,585 $11.8M No change
REG Regency Centers Corp. 0.05% 140,110 $10.2M Add +15.0%
MTB M & T Bank Corp. filed as M & T BK CORP 0.05% 51,027 $10.1M Add +0.2%
CPT Camden Property Trust 0.05% 89,120 $9.5M Add +13.3%
AMH American Homes 4 Rent- A 0.05% 285,600 $9.5M Add +14.1%
EGP Eastgroup Properties Inc. 0.05% 52,940 $9.0M Add +14.8%
CDP Copt Defense Properties 0.05% 302,120 $8.8M Add +104.8%
DOC Healthpeak Properties Inc. 0.04% 446,866 $8.6M Add +14.8%
MAA Mid-America Apartment Comm 0.04% 60,860 $8.5M Add +14.7%
VTR Ventas Inc. 0.04% 117,330 $8.2M Reduce -42.3%
EXR Extra Space Storage Inc. 0.04% 55,055 $7.8M Reduce -3.0%
VICI Vici Properties Inc. filed as VICI PPTYS INC 0.04% 221,610 $7.2M Add +30.6%
TFC Truist Financial Corp. 0.04% 156,437 $7.2M Add +0.4%
VMRK Vivmark Residential filed as EQUITY RESIDENTIAL 0.04% 107,215 $6.9M Add +5.4%
UDR Udr Inc. 0.04% 186,190 $6.9M Add +14.9%
TRNO Terreno Realty Corp. 0.04% 120,907 $6.9M Add +16.0%
HUDSON PAC PPTYS INC 0.03% 2,300,183 $6.3M Add +0.2%
NTST Netstreit Corp. 0.03% 342,410 $6.2M Add +55.3%
O Realty Income Corp. 0.03% 93,580 $5.7M Add +91.5%
SUI Sun Communities Inc. filed as SUN CMNTYS INC 0.03% 43,950 $5.7M Add +14.5%
CHCT Community Healthcare Trust I 0.03% 333,190 $5.1M Add +0.3%
DEI Douglas Emmett Inc. 0.03% 317,600 $4.9M Add +14.8%
ESS Essex Property Trust Inc. 0.02% 16,951 $4.5M Reduce -40.6%

Show all 107 holdings

Portfolio Sells Q2 2025 → Q3 2025
META Meta Platforms Inc. Class A Reduce -18.6% 6.58% −1.74
HUM Humana Inc. Reduce -76.7% 0.52% −1.64
CPNG Coupang Inc. Sold out 0.00% −0.92
COF Capital One Financial Corp. Reduce -6.4% 9.30% −0.89
MSFT Microsoft Corp. Reduce -78.9% 0.14% −0.52
TXN Texas Instruments Inc. Reduce -2.6% 2.22% −0.42
BNY Bank of New York Mellon Corp. Reduce -46.8% 0.57% −0.35
AMZN Amazon.com Inc. Reduce -4.0% 3.60% −0.24
BRK.A Berkshire Hathaway Inc. Class A Reduce -6.3% 3.93% −0.22
WFC Wells Fargo & Co. Reduce -4.8% 3.41% −0.10
CB Chubb Ltd. Reduce -0.1% 1.58% −0.08
PPLI People Inc. Reduce -1.6% 0.40% −0.06
ORCL Oracle Corp. Reduce -49.0% 0.10% −0.06
AMT American Tower Corp. Reduce -28.4% 0.07% −0.04
BRK.B Berkshire Hathaway Inc. Class B Reduce -3.6% 1.40% −0.04
JCI Johnson Controls Internation Reduce -24.2% 0.11% −0.03
AXP American Express Co. Reduce -8.3% 0.43% −0.03
VTR Ventas Inc. Reduce -42.3% 0.04% −0.03
ESS Essex Property Trust Inc. Reduce -40.6% 0.02% −0.02
ANGI Angi Inc. Reduce -19.7% 0.08% −0.02
NTB Bank of N.T. Butterfield&son Reduce -0.3% 0.24% −0.01
JPM JPMorgan Chase & Co. Reduce -6.3% 0.98% −0.01
IVE iShares S&P 500 Value ETF Reduce -39.8% 0.01% −0.00
EXR Extra Space Storage Inc. Reduce -3.0% 0.04% −0.00
AAPL Apple Inc. Sold out 0.00% −0.00
XOM Exxon Mobil Corp. Sold out 0.00% −0.00
EG Everest Group Ltd. Reduce -0.2% 0.07% +0.00
JD Jd.com Inc.-ADR Reduce -0.5% 0.06% +0.00
BEKE Ke Holdings Inc.-ADR Reduce -0.1% 0.18% +0.01
VALE Vale SA-SP ADR Reduce -0.6% 0.17% +0.01
BAC Bank of America Corp. Reduce -0.2% 0.31% +0.02
L Loews Corp. Reduce -0.3% 0.31% +0.02
PNC PNC Financial Services Group Reduce -0.1% 0.53% +0.03
SE Sea Ltd.-ADR Reduce -1.7% 0.41% +0.03
TECK Teck Resources Ltd.-CLS B Reduce -0.1% 2.53% +0.14
GOOG Alphabet Inc. Class C Reduce -0.7% 0.82% +0.20
CVS CVS Health Corp. Reduce -1.6% 4.49% +0.21
TCOM Trip.com Group Ltd.-ADR Reduce -0.2% 1.94% +0.39
GOOGL Alphabet Inc. Class A Reduce -2.9% 3.52% +0.83

Portfolio Buys Q2 2025 → Q3 2025
PINS Pinterest Inc. Class A New 1.33% +1.33
CTRA Coterra Energy Inc. Add +112.9% 2.46% +1.19
AMAT Applied Materials Inc. Add +12.0% 5.94% +1.08
APP AppLovin Corp. Class A Add +4.0% 0.84% +0.44
VTRS Viatris Inc. Add +4.5% 3.58% +0.41
YMM Full Truck Alliance -SPN ADR Add +28.8% 1.01% +0.28
CHYM Chime Financial Inc. Class A New 0.25% +0.25
USB US Bancorp Add +0.5% 4.90% +0.23
UNH Unitedhealth Group Inc. Add +0.6% 2.05% +0.16
TSN Tyson Foods Inc. Class A Add +11.2% 2.82% +0.15
RKT Rocket Cos Inc. Class A Add +0.1% 0.32% +0.08
FITB Fifth Third Bancorp Add +6.2% 0.62% +0.07
DGX Quest Diagnostics Inc. Add +0.5% 1.35% +0.05
PLD Prologis Inc. Add +53.4% 0.12% +0.05
NTES Netease Inc.-ADR Add +0.2% 0.47% +0.04
WCC Wesco International Inc. Add +0.6% 0.32% +0.04
COP Conocophillips Add +0.9% 0.79% +0.03
SPG Simon Property Group Inc. Add +30.7% 0.08% +0.02
CDP Copt Defense Properties Add +104.8% 0.05% +0.02
EQIX Equinix Inc. Add +39.2% 0.09% +0.02
SNPS Synopsys Inc. New 0.02% +0.02
STT State Street Corp. Add +43.6% 0.06% +0.02
AGCO Agco Corp. Add +0.5% 1.01% +0.02
ARE Alexandria Real Estate Equit Add +15.3% 0.08% +0.02
BXP BXP Inc. Add +14.4% 0.09% +0.02
O Realty Income Corp. Add +91.5% 0.03% +0.01
REXR Rexford Industrial Realty Inc. Add +5.4% 0.08% +0.01
BRX Brixmor Property Group Inc. Add +14.4% 0.08% +0.01
NTST Netstreit Corp. Add +55.3% 0.03% +0.01
NVDA Nvidia Corp. Add +0.7% 0.09% +0.01
OC Owens Corning Add +0.5% 1.31% +0.01
SHO Sunstone Hotel Investors Inc. Add +13.5% 0.06% +0.01
DLR Digital Realty Trust Inc. Add +18.7% 0.07% +0.01
DOC Healthpeak Properties Inc. Add +14.8% 0.04% +0.01
VICI Vici Properties Inc. Add +30.6% 0.04% +0.01
REG Regency Centers Corp. Add +15.0% 0.05% +0.01
EGP Eastgroup Properties Inc. Add +14.8% 0.05% +0.01
TRNO Terreno Realty Corp. Add +16.0% 0.04% +0.00
AVB Avalonbay Communities Inc. Add +15.2% 0.07% +0.00
RNR Renaissancere Holdings Ltd. Add +0.1% 0.19% +0.00
PSA Public Storage Add +10.4% 0.07% +0.00
DEI Douglas Emmett Inc. Add +14.8% 0.03% +0.00
SUI Sun Communities Inc. Add +14.5% 0.03% +0.00
CUZ Cousins Properties Inc. Add +11.3% 0.08% +0.00
SCHW Schwab (charles) Corp. Add +0.0% 0.15% +0.00
MAA Mid-America Apartment Comm Add +14.7% 0.04% +0.00
CPT Camden Property Trust Add +13.3% 0.05% +0.00
TFC Truist Financial Corp. Add +0.4% 0.04% +0.00
AMH American Homes 4 Rent- A Add +14.1% 0.05% +0.00
UDR Udr Inc. Add +14.9% 0.04% +0.00

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 112$23.3BCOF, USB, CVS, VTRS, MGM
Q1 2026 112$21.8BCOF, CTRA, USB, VTRS, META
Q4 2025 108$22.2BCOF, USB, META, AMAT, CVS
Q3 2025Amended 107$19.2BCOF, META, AMAT, USB, CVS
Q2 2025 107$18.7BCOF, META, AMAT, USB, MGM
Q1 2025 104$17.3BCOF, META, BRK.A, CVS, AMAT
Q4 2024 100$17.2BCOF, META, BRK.A, AMZN, VTRS
Q3 2024 102$17.8BMETA, COF, BRK.A, AMAT, WFC
Q2 2024 102$17.2BMETA, COF, BRK.A, AMZN, AMAT
Q1 2024Amended 98$17.8BMETA, COF, WFC, BRK.A, AMZN