Davis Selected Advisers

In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 2, 2026), Davis Selected Advisers reported 108 stock positions worth $22.2 billion. Its top holding was Capital One Financial (COF) at 9.4% of the portfolio, followed by US Bancorp (USB, 5.3%) and Meta Platforms Class A (META, 5.2%). Compared with Q3 2025, it opened 3 new positions, sold out of 2, added to 54 and reduced 44. The biggest buy was Coterra Energy (CTRA, shares +64%) and the biggest sale Applied Materials (AMAT, shares −24%).

Most Recent 13F
Q2 2026
Location
Tucson, AZ
CIK
0001036325
Portfolio Value
$22.2B (Q4 2025)
SEC Filing
0001036325-26-000004 ↗ filed Feb 2, 2026

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 Q3 2025 Q4 2025: $22.2B $22.2B Q4 2025 Q1 2026: $21.8B Q1 2026 Q2 2026: $23.3B Q2 2026

Holdings 108 stocks · $22.2B
COF Capital One Financial Corp. 9.38% 8,614,766 $2.1B Add +2.8%
USB US Bancorp 5.29% 22,041,759 $1.2B Add +13.4%
META Meta Platforms Inc. Class A 5.20% 1,752,974 $1.2B Add +2.2%
AMAT Applied Materials Inc. 4.85% 4,201,298 $1.1B Reduce -24.4%
CVS CVS Health Corp. 4.55% 12,760,511 $1.0B Add +11.9%
MGM MGM Resorts International 4.40% 26,820,202 $978.7M Add +12.0%
GOOGL Alphabet Inc. Class A 4.39% 3,118,760 $976.2M Add +12.6%
VTRS Viatris Inc. 4.37% 78,177,984 $973.3M Add +12.7%
MKL Markel Group Inc. 4.01% 415,160 $892.5M Add +11.2%
CTRA Coterra Energy Inc. 3.85% 32,537,508 $856.4M Add +63.6%
AMZN Amazon.com Inc. 3.56% 3,429,262 $791.5M Add +9.3%
WFC Wells Fargo & Co. 3.46% 8,258,031 $769.6M Add +6.1%
TSN Tyson Foods Inc. Class A 3.38% 12,827,540 $752.0M Add +28.8%
BRK.A Berkshire Hathaway Inc. Class A 3.20% 943 $711.8M Reduce -5.5%
TECK Teck Resources Ltd.-CLS B 2.59% 12,019,609 $575.6M Add +9.0%
TXN Texas Instruments Inc. 2.22% 2,853,227 $495.0M Add +23.1%
SOLV Solventum Corp. 2.22% 6,220,072 $492.9M Add +12.7%
UNH Unitedhealth Group Inc. 1.89% 1,273,400 $420.4M Add +11.8%
BRK.B Berkshire Hathaway Inc. Class B 1.67% 739,875 $371.9M Add +38.6%
CB Chubb Ltd. 1.66% 1,186,647 $370.4M Add +10.9%
TCOM Trip.com Group Ltd.-ADR 1.63% 5,053,389 $363.4M Add +2.3%
PINS Pinterest Inc. Class A 1.37% 11,801,983 $305.6M Add +49.5%
DGX Quest Diagnostics Inc. 1.24% 1,589,883 $275.9M Add +16.8%
QSR Restaurant Brands Intern 1.23% 4,020,791 $274.3M Add +13.5%
OC Owens Corning 1.03% 2,046,583 $229.0M Add +15.2%
GOOG Alphabet Inc. Class C 1.00% 710,963 $223.1M Add +10.1%
AGCO Agco Corp. 0.96% 2,048,835 $213.7M Add +13.0%
CI The Cigna Group 0.93% 752,852 $207.2M Add +14.7%
YMM Full Truck Alliance -SPN ADR 0.85% 17,537,524 $188.2M Add +17.1%
JPM JPMorgan Chase & Co. 0.83% 571,586 $184.2M Reduce -4.0%
DUSA Davis Select US Equity ETF 0.78% 3,384,566 $173.1M Add +0.0%
JBS JBS NV-A 0.77% 11,854,741 $170.9M New
COP Conocophillips 0.76% 1,797,887 $168.3M Add +12.4%
APP AppLovin Corp. Class A 0.75% 247,981 $167.1M Add +10.9%
FITB Fifth Third Bancorp 0.58% 2,744,310 $128.5M Add +2.8%
DINT Davis Select International 0.50% 3,892,451 $110.9M Add +0.1%
PNC PNC Financial Services Group 0.50% 530,089 $110.6M Add +5.6%
DFNL Davis Select Financial ETF 0.46% 2,130,361 $103.0M Add +0.0%
DAR Darling Ingredients Inc. 0.46% 2,842,306 $102.3M Add +15.8%
PPLI People Inc. filed as IAC INC 0.44% 2,514,072 $98.3M Add +12.1%
DWLD Davis Select Worldwide ETF 0.40% 1,917,460 $89.4M Add +0.1%
AXP American Express Co. 0.40% 241,700 $89.4M Reduce -2.5%
WCC Wesco International Inc. 0.40% 364,502 $89.2M Add +24.6%
RNR Renaissancere Holdings Ltd. 0.29% 229,739 $64.6M Add +60.5%
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.28% 1,149,873 $63.2M Reduce -0.1%
L Loews Corp. 0.28% 600,046 $63.2M Add +0.7%
RKT Rocket Cos Inc. Class A 0.28% 3,227,910 $62.5M Add +3.0%
CHYM Chime Financial Inc. Class A 0.28% 2,472,106 $62.2M Add +3.0%
BNY Bank of New York Mellon Corp. filed as BANK NEW YORK MELLON CORP 0.27% 521,722 $60.6M Reduce -48.4%
NTES Netease Inc.-ADR 0.26% 426,164 $58.6M Reduce -28.3%
SE Sea Ltd.-ADR 0.25% 436,534 $55.7M Reduce -0.9%
NTB Bank of N.T. Butterfield&son 0.24% 1,053,710 $52.5M Reduce -0.5%
EG Everest Group Ltd. 0.18% 118,017 $40.0M Add +199.3%
FISV Fiserv Inc. 0.17% 568,982 $38.2M New
VALE Vale SA-SP ADR 0.17% 2,931,198 $38.2M No change
SCHW Schwab (charles) Corp. 0.14% 301,695 $30.1M Add +1.8%
MSFT Microsoft Corp. 0.13% 60,801 $29.4M Add +16.2%
BEKE Ke Holdings Inc.-ADR filed as KE HLDGS INC 0.13% 1,851,804 $29.2M No change
IVE iShares S&P 500 Value ETF 0.12% 127,053 $26.9M Add +1821.0%
JCI Johnson Controls Internation 0.11% 209,960 $25.1M Add +12.9%
PLD Prologis Inc. 0.10% 180,126 $23.0M Reduce -9.1%
NVDA Nvidia Corp. 0.09% 111,038 $20.7M Add +23.7%
STT State Street Corp. 0.08% 143,773 $18.5M Add +38.5%
EQIX Equinix Inc. 0.07% 20,773 $15.9M Reduce -4.7%
BXP BXP Inc. 0.07% 233,910 $15.8M Reduce -2.4%
ORCL Oracle Corp. 0.07% 79,416 $15.5M Add +18.4%
BRX Brixmor Property Group Inc. 0.07% 555,970 $14.6M Reduce -2.5%
AVB Avalonbay Communities Inc. 0.06% 78,840 $14.3M Add +18.4%
SAP Sap SE-Sponsored ADR 0.06% 56,347 $13.7M Add +20.4%
REXR Rexford Industrial Realty Inc. 0.06% 344,830 $13.4M Reduce -12.7%
CUZ Cousins Properties Inc. 0.06% 499,615 $12.9M Reduce -2.5%
ANGI Angi Inc. 0.06% 948,993 $12.3M Reduce 0.0%
DLR Digital Realty Trust Inc. 0.06% 79,250 $12.3M Reduce -2.5%
SPG Simon Property Group Inc. 0.06% 66,183 $12.3M Reduce -13.8%
SHO Sunstone Hotel Investors Inc. 0.05% 1,279,610 $11.4M Reduce -2.5%
PSA Public Storage 0.05% 43,520 $11.3M Reduce -2.4%
MTB M & T Bank Corp. filed as M & T BK CORP 0.05% 55,846 $11.3M Add +9.4%
AMT American Tower Corp. 0.05% 63,970 $11.2M Reduce -2.6%
NOAH Noah Holdings Ltd.-Spon ADS filed as NOAH HLDGS LTD 0.05% 1,021,585 $10.3M No change
CPT Camden Property Trust 0.04% 86,930 $9.6M Reduce -2.5%
TFC Truist Financial Corp. 0.04% 192,053 $9.5M Add +22.8%
JD Jd.com Inc.-ADR 0.04% 329,221 $9.4M Reduce -3.7%
REG Regency Centers Corp. 0.04% 136,650 $9.4M Reduce -2.5%
EGP Eastgroup Properties Inc. 0.04% 51,630 $9.2M Reduce -2.5%
AMH American Homes 4 Rent- A 0.04% 278,610 $8.9M Reduce -2.5%
VTR Ventas Inc. 0.04% 114,410 $8.9M Reduce -2.5%
ARE Alexandria Real Estate Equit 0.04% 178,127 $8.7M Reduce -1.1%
MAA Mid-America Apartment Comm 0.04% 59,380 $8.2M Reduce -2.4%
CDP Copt Defense Properties 0.04% 294,740 $8.2M Reduce -2.4%
DOC Healthpeak Properties Inc. 0.03% 435,936 $7.0M Reduce -2.5%
TRNO Terreno Realty Corp. 0.03% 117,937 $6.9M Reduce -2.5%
VMRK Vivmark Residential filed as EQUITY RESIDENTIAL 0.03% 104,515 $6.6M Reduce -2.5%
VICI Vici Properties Inc. filed as VICI PPTYS INC 0.03% 216,240 $6.1M Reduce -2.4%
CHCT Community Healthcare Trust I 0.02% 325,560 $5.3M Reduce -2.3%
SUI Sun Communities Inc. filed as SUN CMNTYS INC 0.02% 42,840 $5.3M Reduce -2.5%
O Realty Income Corp. 0.02% 91,390 $5.2M Reduce -2.3%
ESS Essex Property Trust Inc. 0.02% 16,511 $4.3M Reduce -2.6%
UDR Udr Inc. 0.02% 113,280 $4.2M Reduce -39.2%
SNPS Synopsys Inc. 0.02% 8,655 $4.1M No change
CCI Crown Castle Inc. 0.02% 42,160 $3.7M Reduce -2.5%
EXR Extra Space Storage Inc. 0.02% 27,955 $3.6M Reduce -49.2%
HPP Hudson Pacific Properties Inc. 0.02% 324,026 $3.5M Reduce -1.5%
DEI Douglas Emmett Inc. 0.02% 309,810 $3.4M Reduce -2.5%
NTST Netstreit Corp. 0.01% 189,600 $3.3M Reduce -44.6%
CUBE Cubesmart 0.01% 90,930 $3.3M New
TSM Taiwan Semiconductor-SP ADR 0.01% 7,200 $2.2M No change
LRCX Lam Research Corp. 0.01% 12,280 $2.1M No change
CCK Crown Holdings Inc. 0.00% 8,570 $882K No change

Portfolio Sells Q3 2025 → Q4 2025
AMAT Applied Materials Inc. Reduce -24.4% 4.85% −1.08
BRK.A Berkshire Hathaway Inc. Class A Reduce -5.5% 3.20% −0.73
HUM Humana Inc. Sold out 0.00% −0.52
BNY Bank of New York Mellon Corp. Reduce -48.4% 0.27% −0.30
NTES Netease Inc.-ADR Reduce -28.3% 0.26% −0.21
SE Sea Ltd.-ADR Reduce -0.9% 0.25% −0.16
JPM JPMorgan Chase & Co. Reduce -4.0% 0.83% −0.15
ARE Alexandria Real Estate Equit Reduce -1.1% 0.04% −0.04
AXP American Express Co. Reduce -2.5% 0.40% −0.03
BAC Bank of America Corp. Reduce -0.1% 0.28% −0.03
ANGI Angi Inc. Reduce 0.0% 0.06% −0.03
REXR Rexford Industrial Realty Inc. Reduce -12.7% 0.06% −0.02
EXR Extra Space Storage Inc. Reduce -49.2% 0.02% −0.02
BXP BXP Inc. Reduce -2.4% 0.07% −0.02
SPG Simon Property Group Inc. Reduce -13.8% 0.06% −0.02
JD Jd.com Inc.-ADR Reduce -3.7% 0.04% −0.02
CUZ Cousins Properties Inc. Reduce -2.5% 0.06% −0.02
DLR Digital Realty Trust Inc. Reduce -2.5% 0.06% −0.02
EQIX Equinix Inc. Reduce -4.7% 0.07% −0.02
UDR Udr Inc. Reduce -39.2% 0.02% −0.02
HPP Hudson Pacific Properties Inc. Reduce -1.5% 0.02% −0.02
NTST Netstreit Corp. Reduce -44.6% 0.01% −0.02
BRX Brixmor Property Group Inc. Reduce -2.5% 0.07% −0.02
PSA Public Storage Reduce -2.4% 0.05% −0.02
AMT American Tower Corp. Reduce -2.6% 0.05% −0.02
PLD Prologis Inc. Reduce -9.1% 0.10% −0.02
DOC Healthpeak Properties Inc. Reduce -2.5% 0.03% −0.01
SHO Sunstone Hotel Investors Inc. Reduce -2.5% 0.05% −0.01
REG Regency Centers Corp. Reduce -2.5% 0.04% −0.01
DEI Douglas Emmett Inc. Reduce -2.5% 0.02% −0.01
VICI Vici Properties Inc. Reduce -2.4% 0.03% −0.01
AMH American Homes 4 Rent- A Reduce -2.5% 0.04% −0.01
CDP Copt Defense Properties Reduce -2.4% 0.04% −0.01
MAA Mid-America Apartment Comm Reduce -2.4% 0.04% −0.01
CPT Camden Property Trust Reduce -2.5% 0.04% −0.01
VMRK Vivmark Residential Reduce -2.5% 0.03% −0.01
O Realty Income Corp. Reduce -2.3% 0.02% −0.01
SUI Sun Communities Inc. Reduce -2.5% 0.02% −0.01
EGP Eastgroup Properties Inc. Reduce -2.5% 0.04% −0.01
CCI Crown Castle Inc. Reduce -2.5% 0.02% −0.00
TRNO Terreno Realty Corp. Reduce -2.5% 0.03% −0.00
ESS Essex Property Trust Inc. Reduce -2.6% 0.02% −0.00
VTR Ventas Inc. Reduce -2.5% 0.04% −0.00
CHCT Community Healthcare Trust I Reduce -2.3% 0.02% −0.00
RH RH Sold out 0.00% −0.00
NTB Bank of N.T. Butterfield&son Reduce -0.5% 0.24% −0.00

Portfolio Buys Q3 2025 → Q4 2025
CTRA Coterra Energy Inc. Add +63.6% 3.85% +1.39
GOOGL Alphabet Inc. Class A Add +12.6% 4.39% +0.87
VTRS Viatris Inc. Add +12.7% 4.37% +0.79
JBS JBS NV-A New 0.77% +0.77
TSN Tyson Foods Inc. Class A Add +28.8% 3.38% +0.56
USB US Bancorp Add +13.4% 5.29% +0.38
MKL Markel Group Inc. Add +11.2% 4.01% +0.28
BRK.B Berkshire Hathaway Inc. Class B Add +38.6% 1.67% +0.27
GOOG Alphabet Inc. Class C Add +10.1% 1.00% +0.18
FISV Fiserv Inc. New 0.17% +0.17
IVE iShares S&P 500 Value ETF Add +1821.0% 0.12% +0.11
SOLV Solventum Corp. Add +12.7% 2.22% +0.11
EG Everest Group Ltd. Add +199.3% 0.18% +0.11
RNR Renaissancere Holdings Ltd. Add +60.5% 0.29% +0.10
CB Chubb Ltd. Add +10.9% 1.66% +0.09
COF Capital One Financial Corp. Add +2.8% 9.38% +0.08
WCC Wesco International Inc. Add +24.6% 0.40% +0.08
DAR Darling Ingredients Inc. Add +15.8% 0.46% +0.06
MGM MGM Resorts International Add +12.0% 4.40% +0.06
CVS CVS Health Corp. Add +11.9% 4.55% +0.06
TECK Teck Resources Ltd.-CLS B Add +9.0% 2.59% +0.06
WFC Wells Fargo & Co. Add +6.1% 3.46% +0.05
PINS Pinterest Inc. Class A Add +49.5% 1.37% +0.05
QSR Restaurant Brands Intern Add +13.5% 1.23% +0.05
PPLI People Inc. Add +12.1% 0.44% +0.04
CHYM Chime Financial Inc. Class A Add +3.0% 0.28% +0.03
STT State Street Corp. Add +38.5% 0.08% +0.02
CUBE Cubesmart New 0.01% +0.01
JCI Johnson Controls Internation Add +12.9% 0.11% +0.01
NVDA Nvidia Corp. Add +23.7% 0.09% +0.01
TFC Truist Financial Corp. Add +22.8% 0.04% +0.01
TXN Texas Instruments Inc. Add +23.1% 2.22% +0.00
MTB M & T Bank Corp. Add +9.4% 0.05% −0.00
AVB Avalonbay Communities Inc. Add +18.4% 0.06% −0.00
SAP Sap SE-Sponsored ADR Add +20.4% 0.06% −0.00
MSFT Microsoft Corp. Add +16.2% 0.13% −0.01
SCHW Schwab (charles) Corp. Add +1.8% 0.14% −0.01
L Loews Corp. Add +0.7% 0.28% −0.03
ORCL Oracle Corp. Add +18.4% 0.07% −0.03
PNC PNC Financial Services Group Add +5.6% 0.50% −0.03
COP Conocophillips Add +12.4% 0.76% −0.03
RKT Rocket Cos Inc. Class A Add +3.0% 0.28% −0.04
AMZN Amazon.com Inc. Add +9.3% 3.56% −0.04
DFNL Davis Select Financial ETF Add +0.0% 0.46% −0.04
FITB Fifth Third Bancorp Add +2.8% 0.58% −0.04
DWLD Davis Select Worldwide ETF Add +0.1% 0.40% −0.05
AGCO Agco Corp. Add +13.0% 0.96% −0.05
CI The Cigna Group Add +14.7% 0.93% −0.06
DUSA Davis Select US Equity ETF Add +0.0% 0.78% −0.07
DINT Davis Select International Add +0.1% 0.50% −0.07

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