Davis Advisors 13F, Q3 2025
Christopher Davis · quarter ending 30 September 2025 · filed 29 December 2025 · SEC CIK 1036325
Common stock only: shares the fund reported owning at the quarter end, valued as filed.
Largest positions, Q3 2025
The 25 largest of 107 positions. Weights are against the whole filed book. Changes are in shares held, against the Q2 2025 filing.
| Company | Ticker | Value | % of book | vs Q2 2025 |
|---|---|---|---|---|
| Capital One Financial Corp. | COF | $1.78B | 9.3% | -6% shares |
| Meta Platforms, Inc., Class A | META | $1.26B | 6.6% | -19% shares |
| Applied Materials, Inc. | AMAT | $1.14B | 5.9% | +12% shares |
| U.S. Bancorp | USB | $939.13M | 4.9% | unchanged |
| CVS Health Corporation | CVS | $859.72M | 4.5% | unchanged |
| MGM Resorts International | MGM | $830.23M | 4.3% | unchanged |
| Berkshire Hathaway Inc., Class A | BRK/A | $752.69M | 3.9% | -6% shares |
| Markel Group, Inc | MKL | $713.95M | 3.7% | unchanged |
| Amazon.com, Inc. | AMZN | $689.01M | 3.6% | -4% shares |
| Viatris Inc. | VTRS | $686.52M | 3.6% | +5% shares |
| Alphabet Inc., Class A | GOOGL | $673.53M | 3.5% | -3% shares |
| Wells Fargo & Co. | WFC | $652.63M | 3.4% | -5% shares |
| Tyson Foods Inc | TSN | $540.94M | 2.8% | +11% shares |
| Teck Resources Ltd., Class B | TECK | $483.83M | 2.5% | unchanged |
| Coterra Energy, Inc. | CTRA | $470.24M | 2.5% | +113% shares |
| Texas Instruments, Inc. | TXN | $425.78M | 2.2% | -3% shares |
| Solventum Corp. | SOLV | $402.79M | 2.1% | unchanged |
| UnitedHealth Group Inc. | UNH | $393.40M | 2.0% | unchanged |
| Trip.com Group Ltd., ADR | TCOM | $371.60M | 1.9% | unchanged |
| Chubb Ltd. | $302.13M | 1.6% | unchanged | |
| Berkshire Hathaway Inc., Class B | BRK/B | $268.44M | 1.4% | -4% shares |
| Quest Diagnostics Inc. | DGX | $259.50M | 1.4% | unchanged |
| Pinterest, Inc., Class A | PINS | $253.89M | 1.3% | new |
| Owens Corning | OC | $251.43M | 1.3% | unchanged |
| Restaurant Brands International, Inc. | QSR | $227.21M | 1.2% | +4% shares |
What changed since Q2 2025
Against the Q2 2025 filing, Davis Advisors opened 3 new positions, added to 37, trimmed 21, left 46 unchanged and exited 3. Every position is compared, matched on its CUSIP; a change of 2% or less in shares counts as unchanged.
Other quarters
Source: SEC Form 13F-HR, accession 0001036325-25-000050, filed by DAVIS SELECTED ADVISERS. Values are as filed and cover US-listed positions only; a 13F does not show short positions or holdings outside the US. A 13F may be filed up to 45 days after the quarter ends, so the fund may have traded since. Educational information, not financial advice.