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Davis Selected Advisers
Davis Selected Advisers is an independent, employee-owned investment management firm headquartered in Tucson, Arizona, founded in 1969. The firm focuses on providing investment management and sub-advisory services, primarily in equities, through mutual funds, SMAs, ETFs, and other vehicles. It serves both institutional and individual investors, with an emphasis on long-term value creation. The firm employs around 243 professionals and is known for its rigorous research-driven approach and multi-decade investment discipline.
Investment Strategy
Davis Selected Advisers employs the 'Davis Investment Discipline', focusing on rigorous, fundamental research to identify durable, well-managed businesses trading at attractive prices. The firm aims to hold these investments for the long term to benefit from compounding and conducts frequent in-person research. The portfolio construction prioritizes individual company analysis, investing across market capitalizations and geographies, with a goal of building concentrated portfolios of high-conviction ideas. The strategy is global, flexible, and seeks to align manager and client interests through significant personal investments alongside clients.
Latest 13F Filing Activity
Davis Selected Advisers filed their most recent 13F report on Jun 30, 2025 disclosing 106 equity positions with a total 13F market value of $19B. The fund increased holdings in Unitedhealth Group Inc., Capital One Financial Corp., Meta Platforms, Inc. Class A among other positions. Davis Selected Advisers reduced exposure to Berkshire Hathaway Inc. Class A, Cigna Group, Humana Inc. among others.
Top Holdings
Equity Positions (106)
| Ticker | Security | Weight | Market Value | Shares | Avg Cost | Price | Change (QoQ) |
|---|---|---|---|---|---|---|---|
C COF | Capital One Financial Corp. | 10.19% | $1.91B | 8,955,742 | $78.24 | $212.76 | +$291.8M |
M META | Meta Platforms, Inc., Class A | 8.32% | $1.56B | 2,107,814 | $139.62 | $738.09 | +$281.9M |
A AMAT | Applied Materials, Inc. | 4.85% | $907.6M | 4,957,593 | $59.11 | $183.07 | +$183.0M |
U USB | U.S. Bancorp | 4.68% | $874.8M | 19,331,637 | $43.30 | $45.25 | +$246.1M |
M MGM | MGM Resorts International | 4.38% | $819.2M | 23,821,109 | $37.70 | $34.39 | +$202.2M |
Industry Allocation
Investment Team (9)
| Name | Role | Location | |
|---|---|---|---|
C Cathy Forbes-Kenney | Trader | Vail, AZ , United States | |
 | Portfolio Manager | Asheville, NC , United States | |
D Danton Goei | Portfolio Manager | New York, NY , United States | |
 | Research Analyst | New York, NY , United States | |
 | Analyst | New York, NY , United States | |
P Pierce Crosbie | Analyst | New York, NY , United States | |
 | Analyst | New York, NY , United States | |
D Darin Prozes | Analyst | Larchmont, NY , United States | |
K Kathy Yeager | Managed Money Trader | Tucson, AZ , United States |
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