Asset manager

Davis Selected Advisers

13F for the quarter to June 30, 2026, filed August 11, 2026 · SEC CIK 1036325

Reported value: $23.3bn
Positions we cover: 102
Copy, a year: +14.2%
Copy Sharpe ratio: 0.69

How copying its 13F would have done

CopyS&P 500 $10,000 copying Davis Selected Advisers's filed holdings in companies we cover from August 9, 2013, buying on the first trading day after each 13F was filed and holding until the next, against the S&P 500 (total return). Marked weekly, log scale. Before costs and taxes; misses trading within each quarter and anything 13F does not show (shorts, cash, bonds, non-US holdings).

Biggest drop −36.5% (S&P 500 −31.8%); beta 1.09; alpha −0.3% a year (t = −0.14); last 12 months +15.9% against +12.1%.

Reported value by quarter

Davis Selected Advisers: 13F reported value Total value of all positions in each quarter's 13F, as filed (values before 2023 were filed in thousands of dollars and are converted).

View chart data

Period	Reported value
2013-06-30	$39.3B
2013-09-30	$38.4B
2013-12-31	$40.9B
2014-03-31	$36.3B
2014-06-30	$33.6B
2014-09-30	$32.1B
2014-12-31	$30.9B
2015-03-31	$29.3B
2015-06-30	$28.5B
2015-09-30	$24.1B
2015-12-31	$23.9B
2016-03-31	$22.6B
2016-06-30	$22.7B
2016-09-30	$22.9B
2016-12-31	$22.8B
2017-03-31	$23.2B
2017-06-30	$22.9B
2017-09-30	$23.5B
2017-12-31	$23.5B
2018-03-31	$23.1B
2018-06-30	$23.5B
2018-09-30	$23.3B
2018-12-31	$17.9B
2019-03-31	$20.3B
2019-06-30	$20.2B
2019-09-30	$19.9B
2019-12-31	$20.9B
2020-03-31	$14.8B
2020-06-30	$17.3B
2020-09-30	$18B
2020-12-31	$20.8B
2021-03-31	$22.9B
2021-06-30	$24.3B
2021-09-30	$21.6B
2021-12-31	$21.5B
2022-03-31	$19.8B
2022-06-30	$15.6B
2022-09-30	$14.1B
2022-12-31	$14.7T
2023-03-31	$15.1B
2023-06-30	$16.4B
2023-09-30	$15.9B
2023-12-31	$17.7B
2024-03-31	$17.8B
2024-06-30	$17.2B
2024-09-30	$17.8B
2024-12-31	$17.2B
2025-03-31	$17.3B
2025-06-30	$18.7B
2025-09-30	$19.2B
2025-12-31	$22.2B
2026-03-31	$21.8B
2026-06-30	$23.3B

Holdings and moves

Company	Share of portfolio	Value	Shares	Change in shares
COFCapital One	7.13%	$1.7bn	8.27M	−3.1% Reduced
USBU.S. Bancorp	5.56%	$1.3bn	21.45M	−3.5% Reduced
CVSCVS Health	5.27%	$1.2bn	11.87M	−3.1% Reduced
VTRSViatris	5.13%	$1.2bn	75.23M	−3.8% Reduced
MGMMGM Resorts	4.91%	$1.1bn	23.90M	−1.6% Reduced
GOOGLAlphabet Inc. (Class A)	4.51%	$1.0bn	2.94M	−5.1% Reduced
DVNDevon Energy	4.49%	$1.0bn	25.30M	New
AMZNAmazon	4.38%	$1.0bn	4.28M	+24.8% Added
METAMeta Platforms	3.99%	$928.7m	1.65M	−4.1% Reduced
MKLMarkel Group Inc.	3.41%	$794.4m	406.8K	+6.1% Added
TXNTexas Instruments	3.12%	$726.5m	2.44M	−14.5% Reduced
TSNTyson Foods	3.11%	$724.5m	12.65M	−3.3% Reduced
WFCWells Fargo	2.84%	$661.9m	8.01M	−2.2% Reduced
CICigna	2.67%	$621.2m	2.25M	+0.9% Added
JBSJBS N.V.	2.54%	$592.7m	50.02M	+90.6% Added
UNHUnitedHealth Group	2.27%	$529.8m	1.27M	+2.2% Added
SOLVSolventum	2.09%	$486.7m	6.31M	−0.4%
LYBLyondellBasell	1.97%	$458.0m	8.70M	+55.4% Added
CBChubb Limited	1.68%	$391.2m	1.15M	−4.0% Reduced
TCOMTrip.com Group Ltd	1.50%	$349.1m	8.76M	+33.7% Added
OCOwens Corning	1.42%	$330.7m	2.08M	−0.9% Reduced
DGXQuest Diagnostics	1.42%	$329.8m	1.56M	−3.8% Reduced
PINSPinterest, Inc.	1.14%	$264.5m	12.57M	+1.4% Added
AGCOAGCO Corp	1.06%	$246.4m	2.06M	−1.3% Reduced
YMMFull Truck Alliance Co. Ltd.	0.96%	$224.4m	27.64M	−3.9% Reduced
QSRRestaurant Brands International Inc.	0.87%	$203.0m	2.80M	−22.2% Reduced
COPConocoPhillips	0.84%	$195.2m	1.88M	+0.1%
SESea Ltd	0.83%	$192.8m	2.01M	+8.8% Added
APPApplovin Corp	0.70%	$162.7m	315.5K	−6.0% Reduced
JPMJPMorgan Chase	0.67%	$155.9m	476.4K	−14.4% Reduced
FITBFifth Third Bancorp	0.65%	$151.3m	2.68M	−4.6% Reduced
WCCWesco International Inc	0.54%	$125.5m	363.9K	−4.5% Reduced
PNCPNC Financial Services	0.52%	$122.1m	496.1K	−8.5% Reduced
PPLIPeople Inc	0.47%	$110.5m	2.39M	−0.8% Reduced
NTESNetease, Inc.	0.34%	$78.5m	613.0K	+45.0% Added
RNRRenaissancere Holdings LTD	0.32%	$74.3m	234.5K	−8.8% Reduced
AMATApplied Materials	0.32%	$74.1m	102.5K	−91.4% Reduced
AXPAmerican Express	0.30%	$71.0m	209.8K	−10.0% Reduced
RKTRocket Companies, Inc.	0.30%	$70.3m	4.46M	−7.5% Reduced
LLoews Corporation	0.27%	$61.7m	545.2K	−11.2% Reduced
NTBBank Of N.t. Butterfield & Son Ltd	0.26%	$60.2m	1.01M	−5.7% Reduced
BACBank of America	0.24%	$56.6m	992.8K	−14.4% Reduced
BNYBNY Mellon	0.23%	$53.0m	366.4K	−30.2% Reduced
CHYMChime Financial, Inc.	0.20%	$47.8m	2.33M	−8.2% Reduced
EGEverest Group	0.19%	$45.2m	126.4K	−10.3% Reduced
VALEVale S.a.	0.19%	$44.1m	2.93M	0.0%
MSFTMicrosoft Corporation	0.15%	$34.7m	93.0K	+18.5% Added
NVDANVIDIA Corporation	0.13%	$31.0m	154.7K	+36.3% Added
BEKEKE Holdings Inc.	0.12%	$26.9m	1.85M	−0.1%
SCHWCharles Schwab Corporation	0.12%	$26.7m	289.9K	−6.8% Reduced
FISVFiserv	0.11%	$26.5m	539.8K	−8.3% Reduced
STTState Street Corporation	0.11%	$25.1m	148.0K	−2.8% Reduced
PLDPrologis	0.10%	$24.2m	178.6K	−2.2% Reduced
JCIJohnson Controls	0.09%	$20.7m	141.4K	−27.1% Reduced
EQIXEquinix	0.09%	$20.1m	19.3K	−9.0% Reduced
CUZCousins Properties Inc	0.07%	$17.2m	573.6K	−2.2% Reduced
BXPBXP, Inc.	0.07%	$15.4m	232.1K	−2.2% Reduced
BRXBrixmor Property Group Inc.	0.07%	$15.0m	477.1K	−15.3% Reduced
ADBEAdobe Inc.	0.06%	$13.9m	67.9K	+50.4% Added
MTBM&T Bank	0.06%	$13.8m	58.1K	−3.7% Reduced
DOCHealthpeak Properties	0.06%	$13.5m	631.0K	−2.2% Reduced
DLRDigital Realty	0.06%	$13.2m	73.3K	−7.1% Reduced
PSAPublic Storage	0.05%	$12.0m	37.7K	−8.5% Reduced
SNPSSynopsys Inc	0.05%	$11.1m	25.0K	−3.7% Reduced
SPGSimon Property Group	0.05%	$11.0m	49.3K	−2.3% Reduced
ORCLOracle Corporation	0.05%	$11.0m	74.9K	−6.8% Reduced
AMHAmerican Homes 4 Rent	0.05%	$10.9m	325.6K	+17.5% Added
CDPCopt Defense Properties	0.05%	$10.7m	292.7K	−2.2% Reduced
TFCTruist Financial	0.04%	$10.4m	208.4K	−7.3% Reduced
EGPEastgroup Properties Inc	0.04%	$10.4m	51.2K	−2.2% Reduced
AMTAmerican Tower	0.04%	$10.3m	63.3K	−2.1% Reduced
SHOSunstone Hotel Investors, Inc.	0.04%	$10.0m	870.1K	−2.2% Reduced
VTRVentas	0.04%	$9.9m	111.4K	−2.2% Reduced
CPTCamden Property Trust	0.04%	$9.9m	86.1K	−2.1% Reduced
NOAHNoah Holdings LTD	0.04%	$9.6m	964.5K	−5.6% Reduced
DARDarling Ingredients Inc.	0.04%	$9.3m	170.8K	−9.1% Reduced
SAPSAP SE	0.04%	$9.3m	60.5K	−80.9% Reduced
REGRegency Centers	0.04%	$9.3m	116.3K	−16.1% Reduced
ESSEssex Property Trust	0.04%	$8.3m	28.5K	+70.0% Added
JDJd.com, Inc.	0.03%	$7.2m	283.3K	0.0%
TRNOTerreno Realty Corp	0.03%	$7.2m	111.0K	−2.2% Reduced
SBACSBA Communications	0.03%	$7.2m	40.7K	New
REXRRexford Industrial Realty, Inc.	0.03%	$6.4m	192.0K	−8.4% Reduced
VMRKVivmark Residential	0.03%	$6.2m	91.9K	−13.2% Reduced
CHCTCommunity Healthcare Trust Inc	0.03%	$5.9m	322.9K	−2.2% Reduced
ORealty Income	0.03%	$5.7m	92.7K	−2.3% Reduced
VICIVici Properties	0.03%	$5.7m	215.4K	−2.2% Reduced
ANGIAngi Inc.	0.02%	$5.5m	932.7K	−1.7% Reduced
SUISUN Communities Inc	0.02%	$5.1m	42.5K	−2.2% Reduced
HPPHudson Pacific Properties, Inc.	0.02%	$4.8m	315.2K	−2.2% Reduced
AREAlexandria Real Estate Equities	0.02%	$4.3m	80.5K	−55.5% Reduced
FRMIFermi Inc.	0.02%	$4.1m	451.4K	+47.6% Added
EXRExtra Space Storage	0.02%	$4.0m	27.5K	−2.1% Reduced
JLLJones Lang Lasalle Inc	0.02%	$3.8m	12.3K	−0.8% Reduced
CUBECubesmart	0.01%	$3.6m	90.3K	−2.2% Reduced
DEIDouglas Emmett Inc	0.01%	$3.6m	301.6K	−2.2% Reduced
CBRECBRE Group	0.01%	$3.4m	25.4K	−0.9% Reduced
MAAMid-America Apartment Communities	0.01%	$3.0m	21.9K	−54.4% Reduced
TSMTaiwan Semiconductor Manufacturing Co LTD	0.01%	$1.9m	4.0K	−44.7% Reduced
LRCXLam Research	0.01%	$1.2m	2.8K	0.0%
JANJanus Living, Inc.	0.00%	$1.0m	35.0K	+250.0% Added
CCKCrown Holdings, Inc.	0.00%	$611,655	5.5K	−36.2% Reduced

Company	Bought (value)	Shares
DVNDevon Energy	$1.0bn	25.30M
JBSJBS N.V.	$281.7m	23.77M
AMZNAmazon	$202.8m	850.9K
LYBLyondellBasell	$163.3m	3.10M
TCOMTrip.com Group Ltd	$87.9m	2.21M
MKLMarkel Group Inc.	$45.6m	23.3K
NTESNetease, Inc.	$24.4m	190.2K
SESea Ltd	$15.5m	162.0K
UNHUnitedHealth Group	$11.3m	27.2K
NVDANVIDIA Corporation	$8.2m	41.2K
SBACSBA Communications	$7.2m	40.7K
MSFTMicrosoft Corporation	$5.4m	14.5K
CICigna	$5.4m	19.5K
ADBEAdobe Inc.	$4.7m	22.8K
PINSPinterest, Inc.	$3.7m	174.6K

Change in shares on the previous quarter's 13F, valued at this quarter's reported price.

Company	Sold (value)	Shares
AMATApplied Materials	−$790.9m	−1.09M
TXNTexas Instruments	−$122.9m	−412.2K
QSRRestaurant Brands International Inc.	−$57.9m	−798.8K
GOOGLAlphabet Inc. (Class A)	−$56.3m	−157.5K
COFCapital One	−$53.9m	−268.8K
USBU.S. Bancorp	−$47.4m	−784.5K
VTRSViatris	−$47.3m	−2.98M
METAMeta Platforms	−$40.0m	−71.0K
SAPSAP SE	−$39.6m	−256.9K
CVSCVS Health	−$38.7m	−373.8K
JPMJPMorgan Chase	−$26.2m	−80.1K
TSNTyson Foods	−$25.0m	−437.0K
BNYBNY Mellon	−$23.0m	−158.8K
MGMMGM Resorts	−$18.7m	−392.0K
CBChubb Limited	−$16.1m	−47.3K

Change in shares on the previous quarter's 13F, valued at this quarter's reported price.

Company	Value last quarter	Shares
CCICrown Castle	$3.4m	41.9K

Financials27.9%
Health Care20.8%
Consumer Discretionary12.9%
Communication Services12.5%
Consumer Staples6.3%
Technology6.2%
Energy5.9%
Industrials3.4%
Materials2.4%
Real Estate1.6%

Share of the value held in companies we cover, by sector.

Period	Copy, a year	S&P 500	Sharpe	S&P 500	Biggest drop	Beta
Whole backtestAugust 9, 2013 to November 2, 2026	+14.2%	+13.9%	0.69	0.77	−36.5%	1.09
2018 onwardsJanuary 5, 2018 to November 2, 2026	+12.3%	+13.9%	0.52	0.66	−36.5%	1.08
Last three yearsNovember 3, 2023 to November 2, 2026	+23.5%	+21.8%	1.12	1.16	−18.6%	0.97
Last yearNovember 7, 2025 to November 2, 2026	+16.9%	+14.2%	0.94	0.84	−11.0%	0.79

From SEC Form 13F data sets. A 13F lists long positions in US-listed shares at the quarter's end, filed up to 45 days later; it does not show shorts, cash, bonds, non-US holdings or trades within the quarter. Positions in companies outside our coverage are not listed here. Research, not investment advice.