SEC 13F Intelligence

Notable Investors / Q1 2026

Christopher Davis’s Portfolio — DAVIS SELECTED ADVISERS

Chairman, Davis Advisors; board member, Berkshire Hathaway

CIK 0001036325 · 2949 E. ELVIRA ROAD, SUITE 101, TUCSON, AZ, 85756 · (520)806-7600

About Christopher Davis

Christopher Davis leads Davis Advisors, the third generation of a famous investing family — his grandfather Shelby Cullom Davis turned $50,000 into $900 million in insurance stocks. Davis joined Berkshire Hathaway's board in 2021.

The Davis 13F leans into the family specialty: financials — banks, insurers, Berkshire itself — plus durable growth franchises, bought on 'owner earnings' math and held across cycles.

Portfolio data below is from DAVIS SELECTED ADVISERS’s SEC 13F filings. View the full filer page →

Reported Value
$21.8B
Q1 2026
Positions
112
Filings on Record
32
2019–present window
Filed
May 7, 2026
original filing

Summary

Davis Selected Advisers reported $21.8B in U.S.-listed holdings across 112 positions for Q1 2026.

Its largest position, COF, represents 7.2% of the portfolio.

Compared with Q4 2025, the fund opened 6 new positions and exited 2.

Portfolio Metrics

Turnover
+10.4%
vs prior filed quarter
Top-10 Concentration
+47.3%
share of reported value
Largest Position
+7.2%
Capital One Financial
New / Exited
6 / 2
positions this quarter

Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.

Reported Value by Quarter

13F Reported Value
Q4 ’18: $17.9BQ4 ’18Q1 ’19: $20.3BQ2 ’19: $20.2BQ3 ’19: $19.9BQ4 ’19: $20.9BQ4 ’19Q1 ’20: $14.8BQ2 ’20: $17.3BQ3 ’20: $18.0BQ4 ’20: $20.8BQ4 ’20Q1 ’21: $22.9BQ2 ’21: $24.3BQ3 ’21: $21.6BQ4 ’21: $21.5BQ4 ’21Q1 ’22: $19.8BQ2 ’22: $15.6BQ3 ’22: $14.1BQ4 ’22: $14.7BQ4 ’22Q1 ’23: $15.1BQ2 ’23: $16.4BQ3 ’23: $15.9BQ4 ’23: $17.7BQ4 ’23Q1 ’24: $17.8BQ2 ’24: $17.2BQ3 ’24: $17.8BQ4 ’24: $17.2BQ4 ’24Q1 ’25: $17.3BQ2 ’25: $18.7BQ3 ’25: $19.2BQ4 ’25: $22.2BQ4 ’25Q1 ’26: $21.8Bfilingsflow.com

Portfolio Composition

By security type
Common Stock: 85.4%Other: 7.0%ADR: 4.2%ETP: 2.1%REIT: 1.4%
  • Common Stock · 85.4% · $18.6B
  • Other · 7.0% · $1.5B
  • ADR · 4.2% · $915M
  • ETP · 2.1% · $461M
  • REIT · 1.4% · $296M

Quarter-over-Quarter Changes full breakdown →

vs Q4 2025 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
LyondellBasell Industries N.V.NEW+5.60M5.60M+$451M$451M
ADBEAdobe Inc.NEW+45.1K45.1K+$11M$11M
JLLJones Lang LaSalle, Inc.NEW+12.4K12.4K+$4M$4M
CBRECBRE Group, Inc.NEW+25.6K25.6K+$3M$3M
FRMIFermi Inc.NEW+305.7K305.7K+$2M$2M
JAN1EURJanus Living, Inc.NEW+10.0K10.0K+$235,700$235,700
SAPSAP SE - ADRADDED+261.1K317.4K+$41M$54M
SESea Ltd., Class A, ADRADDED+1.41M1.85M+$97M$153M

Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.

Holdings — Q1 2026

48 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1COFCapital One Financial Corp.history →Common Stock7.15%$1.6B8.54M
2CTRACoterra Energy, Inc.history →Common Stock5.99%$1.3B37.12M
3USBU.S. Bancorphistory →Common Stock5.31%$1.2B22.24M
4GOOGLAlphabet Inc., Class ACommon Stock4.98%$1.1B3.77M
5VTRSViatris Inc.history →Common Stock4.85%$1.1B78.21M
6BRK/ABerkshire Hathaway Inc., Class ACommon Stock4.69%$1.0B750.8K
7METAMeta Platforms, Inc., Class Ahistory →Common Stock4.52%$984M1.72M
8MGMMGM Resorts Internationalhistory →Common Stock4.13%$899M24.30M
9CVSCVS Health Corporationhistory →Common Stock4.04%$879M12.24M
10TSNTyson Foods Inchistory →Common Stock3.85%$839M13.09M
11MKLMarkel Group, Inchistory →Common Stock3.37%$734M383.4K
12AMZNAmazon.com, Inc.history →Common Stock3.28%$713M3.43M
13WFCWells Fargo & Co.history →Common Stock2.99%$652M8.19M
14CICigna Grouphistory →Common Stock2.74%$596M2.23M
15TXNTexas Instruments, Inc.history →Common Stock2.54%$553M2.85M
16TECK/BTeck Resources Ltd., Class Bhistory →Common Stock2.51%$548M10.58M
17JBS N.V., Class ACommon Stock2.16%$471M26.24M
18LyondellBasell Industries N.V.Common Stock2.07%$451M5.60M
19SOLVSolventum Corp.history →Common Stock1.90%$413M6.33M
20AMATApplied Materials, Inc.history →Common Stock1.88%$409M1.20M
21Chubb Ltd.Common Stock1.79%$390M1.20M
22UNHUnitedHealth Group Inc.history →Common Stock1.55%$338M1.25M
23CLVTrip.com Group Ltd., ADRhistory →ADR1.50%$326M6.56M
24DGXQuest Diagnostics Inc.history →Common Stock1.46%$317M1.62M
25QSRRestaurant Brands International, Inc.history →Common Stock1.22%$266M3.60M
26COPConocoPhillipshistory →Common Stock1.14%$248M1.88M
27AGCOAGCO Corporationhistory →Common Stock1.11%$242M2.09M
28YMMFull Truck Alliance Co. Ltd., ADRhistory →ADR1.10%$239M28.76M
29PINSPinterest, Inc., Class Ahistory →Common Stock1.04%$227M12.40M
30OCOwens Corninghistory →Common Stock1.04%$227M2.10M
31Davis Select U.S. Equity ETFETF0.79%$173M3.40M
32JPMJPMorgan Chase & Co.history →Common Stock0.75%$164M556.5K
33SESea Ltd., Class A, ADRhistory →ADR0.70%$153M1.85M
34APPAppLovin Corp., Class Ahistory →Common Stock0.61%$134M335.8K
35FITBFifth Third Bancorphistory →Common Stock0.60%$131M2.81M
36PNCPNC Financial Services Group, Inc.history →Common Stock0.52%$113M541.9K
37Davis Select International ETFETF0.48%$105M3.92M
38WCCWesco International, Inc.history →Common Stock0.48%$104M381.0K
390J7QIAC Inc.history →Common Stock0.44%$97M2.41M
40Davis Select Financial ETFETF0.44%$96M2.13M
41Davis Select Worldwide ETFETF0.39%$85M1.94M
42RenaissanceRe Holdings LtdCommon Stock0.35%$76M257.2K
43AXPAmerican Express Co.history →Common Stock0.32%$71M233.1K
44RKTRocket Companies, Inc., Class Ahistory →Common Stock0.32%$69M4.82M
45LLoews Corp.history →Common Stock0.30%$66M614.1K
46BNYBank of New York Mellon Corp.history →Common Stock0.29%$62M525.2K
47BACBank of America Corp.history →Common Stock0.26%$57M1.16M
48Bank of N.T. Butterfield & Son LimitedCommon Stock0.26%$56M1.07M

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q1 2026$21.8B112May 7, 202613F-HRchanges · EDGAR ↗
Q4 2025$22.2B108Feb 2, 202613F-HRchanges · EDGAR ↗
Q3 2025$19.2B107Nov 12, 202513F-HRchanges · EDGAR ↗
Q2 2025$18.7B107Aug 8, 202513F-HRchanges · EDGAR ↗
Q1 2025$17.3B104May 12, 202513F-HRchanges · EDGAR ↗
Q4 2024$17.2B100Feb 7, 202513F-HRchanges · EDGAR ↗
Q3 2024$17.8B102Nov 8, 202413F-HRchanges · EDGAR ↗
Q2 2024$17.2B102Aug 7, 202413F-HRchanges · EDGAR ↗
Q1 2024$17.8B98May 14, 2024RESTATEMENTchanges · EDGAR ↗
Q4 2023$17.7B103Feb 12, 202413F-HRchanges · EDGAR ↗
Q3 2023$15.9B104Nov 9, 202313F-HRchanges · EDGAR ↗
Q2 2023$16.4B102Aug 9, 202313F-HRchanges · EDGAR ↗
Q1 2023$15.1B101May 8, 202313F-HRchanges · EDGAR ↗
Q4 2022$14.7B109Feb 10, 202313F-HRchanges · EDGAR ↗
Q3 2022$14.1B114Nov 10, 202213F-HRchanges · EDGAR ↗
Q2 2022$15.6B114Aug 11, 202213F-HRchanges · EDGAR ↗
Q1 2022$19.8B121May 12, 202213F-HRchanges · EDGAR ↗
Q4 2021$21.5B120Feb 11, 202213F-HRchanges · EDGAR ↗
Q3 2021$21.6B120Nov 12, 202113F-HRchanges · EDGAR ↗
Q2 2021$24.3B119Aug 13, 202113F-HRchanges · EDGAR ↗
Q1 2021$22.9B111May 13, 202113F-HRchanges · EDGAR ↗
Q4 2020$20.8B109Feb 12, 202113F-HRchanges · EDGAR ↗
Q3 2020$18.0B114Nov 12, 202013F-HRchanges · EDGAR ↗
Q2 2020$17.3B119Aug 12, 202013F-HRchanges · EDGAR ↗
Q1 2020$14.8B122May 15, 202013F-HRchanges · EDGAR ↗
Q4 2019$20.9B134Feb 13, 202013F-HRchanges · EDGAR ↗
Q3 2019$19.9B135Nov 13, 201913F-HRchanges · EDGAR ↗
Q2 2019$20.2B132Aug 13, 201913F-HRchanges · EDGAR ↗
Q1 2019$20.3B135May 14, 201913F-HRchanges · EDGAR ↗
Q4 2018$17.9B137Feb 12, 201913F-HRchanges · EDGAR ↗

13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.