Christopher Davis, Davis Advisors

Portfolio USD 23,289,544,000 across 112 positions as of 2026 Q2; history from 2019 Q4. Source: quarterly 13F filings via dataroma.com.

Positions, 2026 Q2

• COF Capital One Financial: 7.1% of portfolio, USD 1,659,420,000, reduce -3.15%
• USB U.S. Bancorp: 5.6% of portfolio, USD 1,295,910,000, reduce -3.53%
• CVS CVS Health Corp.: 5.3% of portfolio, USD 1,227,594,000, reduce -3.05%
• VTRS Viatris Inc.: 5.1% of portfolio, USD 1,194,790,000, reduce -3.81%
• MGM MGM Resorts International: 4.9% of portfolio, USD 1,142,791,000, reduce -1.61%
• GOOGL Alphabet Inc.: 4.5% of portfolio, USD 1,049,690,000, reduce -5.09%
• DVN Devon Energy Corp.: 4.5% of portfolio, USD 1,045,194,000, new
• AMZN Amazon.com Inc.: 4.4% of portfolio, USD 1,019,230,000, add +24.84%
• META Meta Platforms Inc.: 4.0% of portfolio, USD 928,730,000, reduce -4.13%
• MKL Markel Group Inc.: 3.4% of portfolio, USD 794,400,000, add +6.08%
• TXN Texas Instruments: 3.1% of portfolio, USD 726,549,000, reduce -14.46%
• TSN Tyson Foods: 3.1% of portfolio, USD 724,483,000, reduce -3.34%
• WFC Wells Fargo: 2.8% of portfolio, USD 661,901,000, reduce -2.22%
• BRK.A Berkshire Hathaway CL A: 2.8% of portfolio, USD 650,010,000, reduce -5.96%
• CI Cigna Group: 2.7% of portfolio, USD 621,244,000, add +0.87%
• JBS Jbs Nv A: 2.5% of portfolio, USD 592,692,000, add +90.58%
• UNH United Health Group Inc.: 2.3% of portfolio, USD 529,839,000, add +2.18%
• TECK Teck Resources: 2.1% of portfolio, USD 497,289,000, reduce -20.98%
• SOLV Solventum Corp: 2.1% of portfolio, USD 486,686,000, reduce -0.36%
• LYB LyondellBasell Industries: 2.0% of portfolio, USD 457,994,000, add +55.43%
• CB Chubb Limited: 1.7% of portfolio, USD 391,231,000, reduce -3.96%
• BRK.B Berkshire Hathaway CL B: 1.6% of portfolio, USD 369,514,000, reduce -1.52%
• TCOM Trip.com Group Ltd: 1.5% of portfolio, USD 349,053,000, add +33.66%
• OC Owens Corning: 1.4% of portfolio, USD 330,714,000, reduce -0.94%
• DGX Quest Diagnostics: 1.4% of portfolio, USD 329,782,000, reduce -3.84%
• PINS Pinterest Inc.: 1.1% of portfolio, USD 264,483,000, add +1.41%
• AGCO AGCO Corp.: 1.1% of portfolio, USD 246,362,000, reduce -1.35%
• YMM Full Truck Alliance Spn ADR: 1.0% of portfolio, USD 224,429,000, reduce -3.91%
• QSR Restaurant Brands International: 0.9% of portfolio, USD 203,046,000, reduce -22.19%
• GOOG Alphabet Inc. CL C: 0.9% of portfolio, USD 199,395,000, reduce -16.73%
• COP ConocoPhillips: 0.8% of portfolio, USD 195,190,000, add +0.11%
• SE Sea Ltd: 0.8% of portfolio, USD 192,792,000, add +8.76%
• DUSA Davis Select Us Equity ETF: 0.8% of portfolio, USD 191,054,000, hold
• APP Applovin Corp.: 0.7% of portfolio, USD 162,719,000, reduce -6.04%
• JPM JPMorgan Chase & Co.: 0.7% of portfolio, USD 155,936,000, reduce -14.39%
• FITB Fifth Third Bancorp: 0.7% of portfolio, USD 151,307,000, reduce -4.6%
• WCC WESCO International Inc.: 0.5% of portfolio, USD 125,503,000, reduce -4.49%
• PNC PNC Financial Services: 0.5% of portfolio, USD 122,141,000, reduce -8.46%
• DINT Davis Select International: 0.5% of portfolio, USD 111,599,000, hold
• PPLI People Inc.: 0.5% of portfolio, USD 110,507,000, reduce -0.8%
• DFNL Davis Select Financial ETF: 0.5% of portfolio, USD 105,180,000, hold
• DWLD Davis Select Worldwide ETF: 0.4% of portfolio, USD 89,501,000, hold
• NTES NetEase.com Inc.: 0.3% of portfolio, USD 78,544,000, add +45.01%
• RNR RenaissanceRe Holdings Ltd.: 0.3% of portfolio, USD 74,322,000, reduce -8.81%
• AMAT Applied Materials: 0.3% of portfolio, USD 74,074,000, reduce -91.44%
• AXP American Express: 0.3% of portfolio, USD 70,972,000, reduce -10%
• RKT Rocket Companies Inc.: 0.3% of portfolio, USD 70,295,000, reduce -7.47%
• L Loews Corp.: 0.3% of portfolio, USD 61,723,000, reduce -11.22%
• NTB Bank of N.T. Butterfield & Son Ltd: 0.3% of portfolio, USD 60,222,000, reduce -5.68%
• BAC Bank of America Corp.: 0.2% of portfolio, USD 56,568,000, reduce -14.36%
• BNY Bank of New York Mellon Corp.: 0.2% of portfolio, USD 52,992,000, reduce -30.23%
• CHYM Chime Financial Inc Cl A: 0.2% of portfolio, USD 47,755,000, reduce -8.17%
• EG Everest Group Ltd: 0.2% of portfolio, USD 45,162,000, reduce -10.28%
• VALE Vale SA: 0.2% of portfolio, USD 44,065,000, reduce -0.05%
• MSFT Microsoft Corp.: 0.2% of portfolio, USD 34,705,000, add +18.45%
• NVDA NVIDIA Corp.: 0.1% of portfolio, USD 30,950,000, add +36.26%
• BEKE KE Holdings Inc.: 0.1% of portfolio, USD 26,892,000, reduce -0.06%
• SCHW Charles Schwab Corp.: 0.1% of portfolio, USD 26,746,000, reduce -6.79%
• FISV Fiserv Inc.: 0.1% of portfolio, USD 26,479,000, reduce -8.33%
• STT State Street Corp.: 0.1% of portfolio, USD 25,095,000, reduce -2.78%
• PLD Prologis Inc.: 0.1% of portfolio, USD 24,189,000, reduce -2.21%
• JCI Johnson Controls Intl. plc: 0.1% of portfolio, USD 20,659,000, reduce -27.06%
• EQIX Equinix Inc.: 0.1% of portfolio, USD 20,132,000, reduce -9%
• CUZ Cousins Properties: 0.1% of portfolio, USD 17,197,000, reduce -2.19%
• BXP BXP Inc.: 0.1% of portfolio, USD 15,387,000, reduce -2.17%
• BRX Brixmor Property Group Inc.: 0.1% of portfolio, USD 15,045,000, reduce -15.27%
• ADBE Adobe Inc.: 0.1% of portfolio, USD 13,929,000, add +50.41%
• MTB M&T Bank Corp.: 0.1% of portfolio, USD 13,822,000, reduce -3.7%
• DOC Healthpeak Properties Inc.: 0.1% of portfolio, USD 13,504,000, reduce -2.2%
• DLR Digital Realty Trust Inc.: 0.1% of portfolio, USD 13,160,000, reduce -7.1%
• PSA Public Storage: 0.1% of portfolio, USD 12,013,000, reduce -8.53%
• AVB-OLD AvalonBay Communities: 0.1% of portfolio, USD 11,301,000, reduce -25.11%
• SNPS Synopsys Inc.: 0.1% of portfolio, USD 11,142,000, reduce -3.67%
• SPG Simon Property Group Inc.: 0.1% of portfolio, USD 11,030,000, reduce -2.26%
• ORCL Oracle Corp.: 0.1% of portfolio, USD 10,974,000, reduce -6.83%
• AMH American Homes 4 Rent: 0.1% of portfolio, USD 10,914,000, add +17.47%
• CDP Copt Defense Properties: 0.1% of portfolio, USD 10,651,000, reduce -2.17%
• TFC Truist Financial Corp.: <0.1% of portfolio, USD 10,382,000, reduce -7.3%
• EGP EastGroup Properties SBI: <0.1% of portfolio, USD 10,376,000, reduce -2.18%
• AMT American Tower Corp.: <0.1% of portfolio, USD 10,346,000, reduce -2.12%
• SHO Sunstone Hotel Investors Inc.: <0.1% of portfolio, USD 9,963,000, reduce -2.2%
• VTR Ventas Inc.: <0.1% of portfolio, USD 9,894,000, reduce -2.15%
• CPT Camden Property Trust: <0.1% of portfolio, USD 9,860,000, reduce -2.15%
• NOAH Noah Holdings Ltd: <0.1% of portfolio, USD 9,635,000, reduce -5.59%
• DAR Darling Ingredients Inc.: <0.1% of portfolio, USD 9,340,000, reduce -9.08%
• SAP SAP SE: <0.1% of portfolio, USD 9,334,000, reduce -80.93%
• REG Regency Centers Corp.: <0.1% of portfolio, USD 9,277,000, reduce -16.08%
• ESS Essex Property Trust: <0.1% of portfolio, USD 8,311,000, add +70.04%
• JD JD.com Inc.: <0.1% of portfolio, USD 7,218,000, reduce -0.05%
• TRNO Terreno Realty Corp.: <0.1% of portfolio, USD 7,192,000, reduce -2.18%
• SBAC SBA Communications Corp.: <0.1% of portfolio, USD 7,182,000, new
• REXR Rexford Industrial Realty Inc.: <0.1% of portfolio, USD 6,431,000, reduce -8.42%
• VMRK Vivmark Residential: <0.1% of portfolio, USD 6,240,000, reduce -13.15%
• CHCT Community Healthcare Trust Inc.: <0.1% of portfolio, USD 5,902,000, reduce -2.17%
• O Realty Income Corp.: <0.1% of portfolio, USD 5,745,000, reduce -2.31%
• VICI VICI Properties Inc.: <0.1% of portfolio, USD 5,718,000, reduce -2.19%
• ANGI Angi Inc.: <0.1% of portfolio, USD 5,549,000, reduce -1.72%
• SUI Sun Communities Inc.: <0.1% of portfolio, USD 5,094,000, reduce -2.19%
• HPP Hudson Pacific Properties Inc.: <0.1% of portfolio, USD 4,788,000, reduce -2.15%
• ARE Alexandria RE Equities Inc.: <0.1% of portfolio, USD 4,253,000, reduce -55.5%
• FRMI Fermi Inc.: <0.1% of portfolio, USD 4,135,000, add +47.65%
• EXR Extra Space Storage Inc.: <0.1% of portfolio, USD 4,001,000, reduce -2.13%
• JLL Jones Lang Lasalle Inc.: <0.1% of portfolio, USD 3,811,000, reduce -0.81%
• CUBE CubeSmart: <0.1% of portfolio, USD 3,590,000, reduce -2.16%
• DEI Douglas Emmett Inc.: <0.1% of portfolio, USD 3,559,000, reduce -2.16%
• CBRE CBRE Group: <0.1% of portfolio, USD 3,420,000, reduce -0.86%
• MAA Mid-America Apt Communties: <0.1% of portfolio, USD 3,043,000, reduce -54.39%
• TSM Taiwan Semiconductor S.A.: <0.1% of portfolio, USD 1,901,000, reduce -44.72%
• LRCX Lam Research: <0.1% of portfolio, USD 1,205,000, hold
• JAN Janus Living Inc Cl A 1: 0.0% of portfolio, USD 1,006,000, add +250%
• IVE Ishares S&P 500 Value ETF: 0.0% of portfolio, USD 747,000, reduce -71.71%
• CCK Crown Holdings: 0.0% of portfolio, USD 612,000, reduce -36.17%

Portfolio value, all published quarters

• 2019 Q4: USD 20,918,298,302
• 2020 Q1: USD 14,768,109,564
• 2020 Q2: USD 17,294,590,879
• 2020 Q3: USD 17,976,746,700
• 2020 Q4: USD 20,776,027,358
• 2021 Q1: USD 22,840,621,196
• 2021 Q2: USD 24,329,167,419
• 2021 Q3: USD 21,631,373,939
• 2021 Q4: USD 21,518,844,991
• 2022 Q1: USD 19,785,593,668
• 2022 Q2: USD 15,583,980,126
• 2022 Q3: USD 14,059,970,895
• 2022 Q4: USD 14,722,352,144
• 2023 Q1: USD 15,133,455,919
• 2023 Q2: USD 16,414,749,359
• 2023 Q3: USD 15,946,340,093
• 2023 Q4: USD 17,695,552,501
• 2024 Q1: USD 17,846,937,406
• 2024 Q2: USD 17,652,801,343
• 2024 Q3: USD 17,826,294,647
• 2024 Q4: USD 17,202,920,911
• 2025 Q1: USD 17,346,203,760
• 2025 Q2: USD 18,704,212,086
• 2025 Q3: USD 19,154,485,156
• 2025 Q4: USD 22,253,742,565
• 2026 Q1: USD 21,774,855,728
• 2026 Q2: USD 23,289,544,000