Davis Capital Management's Q4 2025 13F: 47 new positions, 61 exits
Form 13F-HR for the quarter ended Dec 31, 2025 · filed Jan 28, 2026 · 603 reported positions · accession 0001811806-26-000001
What changed this quarter
| Activity | Security | Weight before | Weight now | Change | Shares | Shares % |
|---|---|---|---|---|---|---|
| Reduced | COMCAST CORP NEW CL A (CMCSA) | 0.9% | 0.1% | −0.9 pts | −40,302 sh | −94% |
| Reduced | ADOBE INC COM (ADBE) | 1.0% | 0.2% | −0.8 pts | −3,100 sh | −77% |
| Increased | AGILENT TECHNOLOGIES INC COM (A) | 0.0% | 0.5% | +0.5 pts | +5,109 sh | +2365% |
| Reduced | NICE LTD SPONSORED ADR (NICE) | 0.6% | 0.1% | −0.5 pts | −4,777 sh | −78% |
| Reduced | KENVUE INC COM (KVUE) | 0.4% | 0.1% | −0.3 pts | −29,033 sh | −73% |
| Increased | PAYPAL HLDGS INC COM (PYPL) | 0.0% | 0.3% | +0.3 pts | +7,301 sh | +7767% |
| Increased | QUALCOMM INC COM (QCOM) | 0.6% | 0.9% | +0.3 pts | +2,244 sh | +42% |
| Increased | SCHWAB U.S. BROAD MARKET ETF (SCHB) | 14.0% | 14.4% | +0.4 pts | +12,487 sh | +2% |
| Reduced | NEXSTAR MEDIA GROUP INC COMMON STOCK (NXST) | 0.2% | 0.0% | −0.2 pts | −1,534 sh | −92% |
| Increased | SCHWAB U.S. LARGE-CAP GROWTH ETF (SCHG) | 1.0% | 1.2% | +0.2 pts | +9,043 sh | +20% |
| Reduced | ALPHABET INC CAP STK CL C (GOOG) | 2.9% | 3.6% | +0.6 pts | −847 sh | −5% |
| Increased | ILLINOIS TOOL WKS INC COM (ITW) | 0.8% | 0.9% | +0.1 pts | +1,006 sh | +23% |
| Increased | SCHWAB INTERNATIONAL EQUITY ETF (SCHF) | 5.0% | 5.3% | +0.3 pts | +9,882 sh | +3% |
| Increased | CLOROX CO DEL COM (CLX) | 0.0% | 0.2% | +0.1 pts | +2,229 sh | +748% |
| Increased | REPUBLIC SVCS INC COM (RSG) | 1.6% | 1.6% | 0.0 pts | +1,057 sh | +11% |
| Reduced | HORMEL FOODS CORP COM (HRL) | 0.2% | 0.0% | −0.2 pts | −9,256 sh | −98% |
| Reduced | SCHWAB US DIVIDEND EQUITY ETF (SCHD) | 5.4% | 5.2% | −0.2 pts | −7,742 sh | −3% |
| Increased | CHEVRON CORP NEW COM (CVX) | 0.4% | 0.5% | +0.1 pts | +1,299 sh | +34% |
| Reduced | EASTMAN CHEM CO COM (EMN) | 0.1% | 0.0% | −0.1 pts | −3,016 sh | −91% |
| Increased | LOWES COS INC COM (LOW) | 0.6% | 0.7% | +0.1 pts | +729 sh | +21% |
| Reduced | UNITEDHEALTH GROUP INC COM (UNH) | 0.3% | 0.1% | −0.1 pts | −516 sh | −49% |
| Increased | MONDELEZ INTL INC CL A (MDLZ) | 0.6% | 0.7% | 0.0 pts | +3,145 sh | +22% |
| Increased | STATE STR CORP COM (STT) | 0.0% | 0.1% | +0.1 pts | +1,283 sh | +42767% |
| Increased | AMAZON COM INC COM (AMZN) | 1.8% | 2.0% | +0.2 pts | +561 sh | +5% |
| Increased | MEDTRONIC PLC SHS (MDT) | 0.9% | 1.0% | +0.1 pts | +1,273 sh | +10% |
| Increased | TARGET CORP COM (TGT) | 0.3% | 0.4% | +0.1 pts | +1,219 sh | +27% |
| Reduced | CHECK POINT SOFTWARE TECH LTD ORD (CHKP) | 0.9% | 0.7% | −0.2 pts | −605 sh | −10% |
| Increased | SCHWAB U.S. SMALL-CAP ETF (SCHA) | 3.6% | 3.7% | +0.1 pts | +3,774 sh | +2% |
| Reduced | APPLE INC. (AAPL) | 2.7% | 2.8% | +0.1 pts | −367 sh | −2% |
| Increased | UNION PAC CORP COM (UNP) | 1.4% | 1.5% | 0.0 pts | +413 sh | +5% |
| Reduced | BANK NEW YORK MELLON CORP COM (BK) | 1.8% | 1.9% | 0.0 pts | −760 sh | −3% |
| Reduced | INFOSYS LTD SPONSORED ADR (INFY) | 0.4% | 0.4% | 0.0 pts | −4,705 sh | −13% |
| Increased | SS&C TECHNOLOGIES HLDGS INC COM (SSNC) | 0.7% | 0.8% | 0.0 pts | +955 sh | +8% |
| Increased | SPDR GOLD SHARES (GLD) | 0.0% | 0.1% | +0.1 pts | +200 sh | +588% |
| Reduced | JOHNSON & JOHNSON (JNJ) | 1.4% | 1.5% | +0.1 pts | −351 sh | −3% |
| Reduced | CISCO SYS INC COM (CSCO) | 1.5% | 1.7% | +0.1 pts | −938 sh | −3% |
| Reduced | INVESCO BULLETSHARES 2026 MUNICIPAL BOND ETF (BSMQ) | 0.2% | 0.1% | 0.0 pts | −2,745 sh | −25% |
| Reduced | CLOUDFLARE INC CL A COM (NET) | 0.6% | 0.5% | −0.1 pts | −301 sh | −7% |
| Reduced | KINDER MORGAN INC DEL COM (KMI) | 1.0% | 0.9% | −0.1 pts | −1,764 sh | −4% |
| Increased | INVESCO BULLETSHARES 2035 CORPORATE BOND ETF (BSCZ) | 0.0% | 0.1% | 0.0 pts | +2,043 sh | +93% |
| Reduced | COSTAR GROUP INC COM (CSGP) | 0.8% | 0.6% | −0.2 pts | −583 sh | −4% |
| Reduced | STARBUCKS CORPORATION (SBUX) | 0.0% | 0.0% | 0.0 pts | −432 sh | −54% |
| Reduced | AUTONATION INC COM (AN) | 1.4% | 1.3% | −0.1 pts | −171 sh | −2% |
| Reduced | VANGUARD INFORMATION TECHNOLOGY ETF (VGT) | 0.2% | 0.1% | 0.0 pts | −46 sh | −14% |
| Reduced | FIDELITY NATIONAL FINANCIAL IN COM SHS (FNT) | 0.5% | 0.4% | −0.1 pts | −589 sh | −5% |
| Increased | VANGUARD GROWTH ETF (VUG) | 0.1% | 0.1% | 0.0 pts | +65 sh | +20% |
| Increased | SLB LIMITED COM STK (SLB) | 0.5% | 0.6% | +0.1 pts | +800 sh | +4% |
| Increased | PRICE T ROWE GROUP INC COM (TROW) | 0.2% | 0.3% | 0.0 pts | +299 sh | +9% |
| Increased | GENPACT LIMITED SHS (G) | 1.2% | 1.3% | +0.1 pts | +649 sh | +2% |
| Increased | LOCKHEED MARTIN CORP COM (LMT) | 0.8% | 0.8% | 0.0 pts | +44 sh | +2% |
The 50 largest of 369 changes, by size of the trade. Full holdings for this quarter.
Reported by the fund in its Form 13F filed with the SEC; holdings are as of the quarter-end report date and may have changed since. For informational purposes only — not investment advice or a recommendation to buy or sell any security. FilingExplorer is not affiliated with or endorsed by this fund. How this brief is compiled
Top 10 positions — 43.9% of the equity book
Changes in the top 10 this quarter: BK entered · ALL left
| # | Security | Weight before | Weight now | |
|---|---|---|---|---|
| 1 | SCHWAB U.S. BROAD MARKET ETF (SCHB) | 14.0% | 14.4% | |
| 2 | SCHWAB INTERNATIONAL EQUITY ETF (SCHF) | 5.0% | 5.3% | |
| 3 | SCHWAB US DIVIDEND EQUITY ETF (SCHD) | 5.4% | 5.2% | |
| 4 | SCHWAB U.S. SMALL-CAP ETF (SCHA) | 3.6% | 3.7% | |
| 5 | ALPHABET INC CAP STK CL C (GOOG) | 2.9% | 3.6% | |
| 6 | APPLE INC. (AAPL) | 2.7% | 2.8% | |
| 7 | VANGUARD TOTAL STOCK MARKET ETF (VTI) | 2.6% | 2.6% | |
| 8 | MICROSOFT CORP COM (MSFT) | 2.4% | 2.2% | |
| 9 | AMAZON COM INC COM (AMZN) | 1.8% | 2.0% | |
| 10 | BANK NEW YORK MELLON CORP COM (BK) | 1.8% | 1.9% | Entered the top 10 |
| — | ALLSTATE CORP COM (ALL) | 1.9% | 1.8% | Left the top 10 |
Weights are each position's reported value as a share of the fund's reported equity positions (options and principal-amount holdings excluded).