SEC 13F Intelligence

Managers / Q1 2023 · view latest →

Davis Asset Management, L.P.

CIK 0001945894 · 3 HARBOR DRIVE, SUITE 301, SAUSALITO, CA, 94965 · 415-362-3600

Reported Value
$1.6B
Q1 2023
Positions
32
Filings on Record
16
2019–present window
Filed
May 11, 2023
original filing

Summary

Davis Asset Management, L.P. reported $1.6B in U.S.-listed holdings across 32 positions for Q1 2023.

Its largest position, Arch Capital, represents 8.7% of the portfolio.

Compared with Q4 2022, the fund opened 2 new positions and exited 1.

Reported Value by Quarter

13F Reported Value
Q3 ’22: $1.7BQ3 ’22Q4 ’22: $1.8BQ1 ’23: $1.6BQ1 ’23Q2 ’23: $1.7BQ3 ’23: $1.7BQ3 ’23Q4 ’23: $4.1BQ1 ’24: $2.3BQ1 ’24Q2 ’24: $2.2BQ3 ’24: $2.5BQ3 ’24Q4 ’24: $2.5BQ1 ’25: $2.4BQ1 ’25Q2 ’25: $2.6BQ3 ’25: $2.8BQ3 ’25Q4 ’25: $2.8BQ1 ’26: $3.5BQ1 ’26filingsflow.com

Portfolio Composition

By security type
Common Stock: 79.0%Other: 17.7%ADR: 3.3%
  • Common Stock · 79.0% · $1.2B
  • Other · 17.7% · $276M
  • ADR · 3.3% · $51M

Quarter-over-Quarter Changes full breakdown →

vs Q4 2022 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
MTBM&T BankNEW+190.0K190.0K+$23M$23M
FCNCAFirst Citizen BancsharesNEW+14.2K14.2K+$14M$14M
CCNECNB Financial Corp PAADDED+200.1K400.1K+$3M$8M
TQJSignature Bank New YorkSOLD OUT−1.10M0−$127M$0
WBSWebster Financial CorpADDED+721.3K1.50M+$22M$59M
Arch Capital Group LTDTRIMMED−999.3K2.00M−$53M$136M
BB4AXOS Financial IncADDED+187.8K1.20M+$6M$44M
SFBSServisfirst Bancshares IncTRIMMED−96.4K903.6K−$20M$49M

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

Holdings — Q1 2023

31 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1Arch Capital Group LTDCOM8.72%$136M2.00M
2BRK/BBerkshire Hathaway Inc Del Cl B FrmlyCL B · CL A7.55%$118M200.1K
3GPNGlobal Payments Inc.COM7.43%$116M1.10M
4GOOGAlphabet IncClass C6.68%$104M1.00M
5STTState Street CorpCOM5.83%$91M1.20M
6WEAWestern Alliance BancorpCOM5.71%$89M2.50M
7Chubb LimitedCOM5.61%$87M450.0K
8VVisa Inc ComCOM4.34%$68M300.0K
9METAMeta PlatformsCl A3.86%$60M500.0K
10WBSWebster Financial CorpCOM3.80%$59M1.50M
11KKR & Co.COM3.37%$53M1.00M
12BABAAlibabaSponsored ADS3.28%$51M500.0K
13SFBSServisfirst Bancshares IncCOM3.17%$49M903.6K
14CGCarlyle GroupCOM2.99%$47M1.50M
15BB4AXOS Financial IncCOM2.85%$44M1.20M
16TCBKTriCo BancsharesCOM2.73%$42M1.02M
17GSGoldman Sachs Group IncCOM2.52%$39M120.0K
18USBUS Bancorp Del Com NewCOM2.32%$36M1.00M
19GBCIGlacier BancorpCOM2.13%$33M789.4K
20MKLMarkelCOM2.05%$32M25.0K
21MAMastercard IncCOM1.98%$31M85.0K
22RJFRaymond James Financial IncCOM1.80%$28M300.0K
23MTBM&T BankCOM1.46%$23M190.0K
24JLLJones Lange Lasalle Inc.COM1.40%$22M150.0K
25FSBCFive Star BancorpCOM1.37%$21M1.00M
26PACWUSDPacwest BancorpCOM1.27%$20M2.03M
27SSBKSouthern States BancsharesCOM1.15%$18M797.2K
28ABCBAmeris BancorpCOM0.94%$15M400.0K
29FCNCAFirst Citizen BancsharesCl A0.89%$14M14.2K
30CCNECNB Financial Corp PACOM0.49%$8M400.1K
31TSBKTimberland Bancorp IncCOM0.30%$5M174.5K

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q1 2026$3.5B85May 15, 202613F-HRchanges · EDGAR ↗
Q4 2025$2.8B30Feb 13, 202613F-HRchanges · EDGAR ↗
Q3 2025$2.8B31Nov 14, 202513F-HRchanges · EDGAR ↗
Q2 2025$2.6B31Aug 13, 202513F-HRchanges · EDGAR ↗
Q1 2025$2.4B31May 12, 202513F-HRchanges · EDGAR ↗
Q4 2024$2.5B31Feb 14, 202513F-HRchanges · EDGAR ↗
Q3 2024$2.5B33Nov 12, 202413F-HRchanges · EDGAR ↗
Q2 2024$2.2B34Aug 13, 202413F-HRchanges · EDGAR ↗
Q1 2024$2.3B33May 13, 202413F-HRchanges · EDGAR ↗
Q4 2023REVEALED$4.1B65Feb 12, 202413F-HRchanges · EDGAR ↗
Q3 2023$1.7B32Nov 13, 202313F-HRchanges · EDGAR ↗
Q2 2023$1.7B32Aug 14, 202313F-HRchanges · EDGAR ↗
Q1 2023$1.6B32May 11, 202313F-HRchanges · EDGAR ↗
Q4 2022$1.8B31Feb 13, 202313F-HRchanges · EDGAR ↗
Q3 2022$1.7B31Nov 14, 202213F-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 ↗.