DAVIS SELECTED ADVISERS
Q4 2025 Form 13-F
TUCSON, ARIZONA
CIK 0001036325
· CRD 108674
· SEC-registered investment adviser
$22.2B Reported Value Total
DAVIS SELECTED ADVISERS LP reports 109 total accounts under management (AUM). There are 95 discretionary accounts valued at $25,619,655,091, and 14 non-discretionary accounts valued at $4,500,533,820.
Source: Form ADV filed * Note that certain holdings are exempt from Form 13-F reporting, so the AUM totals may be greater than the Form 13-F total.
Source: Form ADV filed 2026-03-19
Reported value
$22.2B
Quarter over quarter
+6.6%
Holdings
108
Top-10 concentration
50.3%
Filing Structure
Reports holdings for
- VALLEY FORGE INVESTMENT CONSULTANTS INC ADV · File #028-20568 · Q1 2024 – Q1 2026 · declared by one filing
- Beacon Pointe Advisors LLC · File #028-19009 · Q1 2024 – Q1 2026 · declared by one filing
- HighTower Advisors LLC · File #028-13510 · Q1 2024 – Q2 2024 · declared by one filing
Holdings reported by
- Advisory Services Network LLC · Q1 2023 – Q1 2023 · declared by one filing
Key People
Form ADV owners & control persons
Christopher Cullom Davis
SOLE MEMBER
Shelby Moore Cullom Davis
SHAREHOLDER
Lisa J Cohen
VICE PRESIDENT, CHIEF LEGAL OFFICER
Filing Navigation
Coverage begins with the second quarter of 2013. Earlier quarters are not shown while their accuracy is being verified.
13F Metrics
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Q4 2025 13F record
Q4 2025 13F filing summary
| Period of report | December 31, 2025 |
|---|---|
| Filed | February 02, 2026 |
| Form | 13F-HR |
| Reported value | $22.2B |
| Positions | 108 |
| Change in reported value | +16.2% |
| New positions | 4 |
| Exited positions | 3 |
| Position turnover | 6.3% |
| Top-10 concentration | 50.3% |
13F filings by quarter
| Quarter | Positions | Value |
|---|---|---|
|
Q2 2026 13F
Filed Aug 11, 2026
|
112 | $23.3B |
|
Q1 2026 13F
Filed May 7, 2026
|
112 | $21.8B |
|
Q4 2025 13F
Filed Feb 2, 2026
|
108 | $22.2B |
|
Q3 2025 13F
Filed Nov 12, 2025
|
107 | $19.2B |
|
Q2 2025 13F
Filed Aug 8, 2025
|
107 | $18.7B |
|
Q1 2025 13F
Filed May 12, 2025
|
104 | $17.3B |
|
Q4 2024 13F
Filed Feb 7, 2025
|
100 | $17.2B |
|
Q3 2024 13F
Filed Nov 8, 2024
|
102 | $17.8B |
|
Q2 2024 13F
Filed Aug 7, 2024
|
68 | $17.2B |
|
Q1 2024 13F
Filed May 13, 2024
|
98 | $17.8B |
|
Q4 2023 13F
Filed Feb 12, 2024
|
103 | $17.7B |
|
Q3 2023 13F
Filed Nov 9, 2023
|
104 | $15.9B |
|
Q2 2023 13F
Filed Aug 9, 2023
|
102 | $16.4B |
|
Q1 2023 13F
Filed May 8, 2023
|
101 | $15.1B |
|
Q4 2022 13F
Filed Feb 10, 2023
|
109 | $14.7B |
|
Q3 2022 13F
Filed Nov 10, 2022
|
114 | $14.1B |
|
Q2 2022 13F
Filed Aug 11, 2022
|
114 | $15.6B |
|
Q1 2022 13F
Filed May 12, 2022
|
121 | $19.8B |
|
Q4 2021 13F
Filed Feb 11, 2022
|
120 | $21.5B |
|
Q3 2021 13F
Filed Nov 12, 2021
|
120 | $21.6B |
33 earlier quarters on file — choose one from the quarter menu above.
Top 20 holdings · Q4 2025
| # | Holding | Reported value | % of portfolio |
|---|---|---|---|
| 1 | COF Capital One Financial Corp. | $2.1B | 9.38% |
| 2 | USB U.S. Bancorp | $1.2B | 5.29% |
| 3 | META Meta Platforms, Inc., Class A | $1.2B | 5.2% |
| 4 | AMAT Applied Materials, Inc. | $1.1B | 4.85% |
| 5 | CVS CVS Health Corporation | $1.0B | 4.55% |
| 6 | MGM MGM Resorts International | $978.7M | 4.4% |
| 7 | GOOGL Alphabet Inc., Class A | $976.2M | 4.39% |
| 8 | VTRS Viatris Inc. | $973.3M | 4.37% |
| 9 | MKL Markel Group, Inc | $892.5M | 4.01% |
| 10 | CTRA Coterra Energy, Inc. | $856.4M | 3.85% |
| 11 | AMZN Amazon.com, Inc. | $791.5M | 3.56% |
| 12 | WFC Wells Fargo & Co. | $769.6M | 3.46% |
| 13 | TSN Tyson Foods Inc | $752.0M | 3.38% |
| 14 | BRK-A Berkshire Hathaway Inc., Class A | $711.8M | 3.2% |
| 15 | TECK Teck Resources Ltd., Class B | $575.6M | 2.59% |
| 16 | TXN Texas Instruments, Inc. | $495.0M | 2.22% |
| 17 | SOLV Solventum Corp. | $492.9M | 2.22% |
| 18 | UNH UnitedHealth Group Inc. | $420.4M | 1.89% |
| 19 | BRK-B Berkshire Hathaway Inc., Class B | $371.9M | 1.67% |
| 20 | CB Chubb Ltd. | $370.4M | 1.66% |
Values as reported on the Q4 2025 Form 13F. Every position is in the holdings table below.