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CD

Christopher Davis Davis Selected Advisers

AUM $23.3B
1-Year Est. Return 26.95%
 

Christopher Davis is chairman of Davis Advisors, a multi-generational investment firm known for research-intensive equity management. The firm’s strategies often emphasize financials and other businesses where long-term ownership and careful accounting analysis matter. Davis is a frequent public commentator on active management and long-horizon investing.

This Fund
S&P 500
This Quarter Est. Return
+12%
1 Year Est. Return
+26.95%
3 Year Est. Return
+93.11%
5 Year Est. Return
+96.73%
10 Year Est. Return
+388.76%
AUM
$23.3B
AUM Growth
+$1.51B
Cap. Flow
-$614M
Cap. Flow %
-2.64%
Top 10 Hldgs %
48.77%
Holding
114
New
2
Increased
18
Reduced
87
Closed
2

Top Buys

Rank Stock Value
1
DVN icon
Devon Energy
DVN
+$1.17B
2
JBS
JBS N.V.
JBS
+$348M
3
LYB icon
LyondellBasell Industries
LYB
+$214M
4
AMZN icon
Amazon
AMZN
+$214M
5
TCOM icon
Trip.com Group
TCOM
+$109M

Top Sells

Rank Stock Value
1
CTRA
Coterra Energy
CTRA
+$1.3B
2
AMAT icon
Applied Materials
AMAT
+$505M
3
TECK icon
Teck Resources
TECK
+$135M
4
TXN icon
Texas Instruments
TXN
+$114M
5
QSR icon
Restaurant Brands International
QSR
+$60.8M

Sector Composition

Rank Sector Weight
1 Financials 29.33%
2 Healthcare 18.85%
3 Consumer Discretionary 12.52%
4 Communication Services 12.02%
5 Consumer Staples 5.7%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
COF icon
1
Capital One
COF
$134B
$1.66B 7.13%
8,270,946
-268,790
-3% -$51.4M
USB icon
2
US Bancorp
USB
$96.7B
$1.3B 5.56%
21,453,510
-784,450
-4% -$44M
CVS icon
3
CVS Health
CVS
$119B
$1.23B 5.27%
11,865,916
-373,750
-3% -$33.4M
VTRS icon
4
Viatris
VTRS
$18.7B
$1.19B 5.13%
75,232,254
-2,978,937
-4% -$46.2M
MGM icon
5
MGM Resorts International
MGM
$11B
$1.14B 4.91%
23,903,317
-392,021
-2% -$16.3M
GOOGL icon
6
Alphabet (Google) Class A
GOOGL
$4.22T
$1.05B 4.51%
2,937,160
-157,499
-5% -$56.7M
DVN icon
7
Devon Energy
DVN
$54B
$1.05B 4.49%
+25,297,991
New +$1.17B
AMZN icon
8
Amazon
AMZN
$2.79T
$1.02B 4.38%
4,276,176
+850,924
+25% +$214M
META icon
9
Meta Platforms (Facebook)
META
$1.4T
$929M 3.99%
1,648,172
-70,984
-4% -$43.4M
MKL icon
10
Markel Group
MKL
$22.2B
$794M 3.41%
406,759
+23,326
+6% +$43.6M
TXN icon
11
Texas Instruments
TXN
$241B
$727M 3.12%
2,437,486
-412,185
-14% -$114M
TSN icon
12
Tyson Foods
TSN
$20.6B
$724M 3.11%
12,653,717
-436,972
-3% -$27.4M
WFC icon
13
Wells Fargo
WFC
$254B
$662M 2.84%
8,008,728
-182,143
-2% -$14.6M
BRK.A icon
14
Berkshire Hathaway Class A
BRK.A
$1.06T
$650M 2.79%
868
-55
-6% -$39.7M
CI icon
15
Cigna
CI
$73.3B
$621M 2.67%
2,253,424
+19,495
+0.9% +$5.51M
JBS
16
JBS N.V.
JBS
$45.5B
$593M 2.54%
50,016,236
+23,771,576
+91% +$348M
UNH icon
17
UnitedHealth
UNH
$350B
$530M 2.28%
1,274,650
+27,174
+2% +$10.1M
TECK icon
18
Teck Resources
TECK
$33.9B
$497M 2.14%
8,363,497
-2,221,166
-21% -$135M
SOLV icon
19
Solventum
SOLV
$15.2B
$487M 2.09%
6,307,729
-22,596
-0.4% -$1.65M
LYB icon
20
LyondellBasell Industries
LYB
$21.8B
$458M 1.97%
8,698,852
+3,102,264
+55% +$214M
CB icon
21
Chubb
CB
$132B
$391M 1.68%
1,148,090
-47,301
-4% -$15.4M
BRK.B icon
22
Berkshire Hathaway Class B
BRK.B
$1.06T
$370M 1.59%
738,433
-11,413
-2% -$5.49M
TCOM icon
23
Trip.com Group
TCOM
$29B
$349M 1.5%
8,761,371
+2,206,259
+34% +$109M
OC icon
24
Owens Corning
OC
$11.7B
$331M 1.42%
2,081,213
-19,722
-0.9% -$2.4M
DGX icon
25
Quest Diagnostics
DGX
$27B
$330M 1.42%
1,555,612
-62,201
-4% -$12.2M
1
2 3 4 5

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Christopher Davis's Q2 2026 Portfolio in Review

As of Q2 2026, Christopher Davis held 114 positions worth $23.3B, up 6.9% from $21.8B the previous quarter. Its ten largest holdings account for 49% of the portfolio.

Trading was light in Q2 2026: portfolio turnover was 3.5%. Christopher Davis opened 2 new positions and exited 2, leaving the 114-position portfolio largely intact.

By sector, the portfolio is most concentrated in Financials at 29% of assets, down from 30% a quarter earlier, followed by Healthcare and Consumer Discretionary.

  • Christopher Davis's largest Q2 2026 buy was Devon Energy: 25,297,991 shares worth $1.05B.
  • Christopher Davis added most to JBS N.V. in Q2 2026, an estimated $348M increase.
  • Christopher Davis's biggest Q2 2026 reduction was Applied Materials, cutting an estimated $505M.
  • Christopher Davis fully exited Coterra Energy in Q2 2026, selling an estimated $1.3B.
  • Christopher Davis's ten largest holdings make up 49% of its $23.3B portfolio in Q2 2026.
  • Christopher Davis opened 2 new positions and closed 2 in Q2 2026.
  • Christopher Davis's portfolio value rose 6.9% quarter-over-quarter to $23.3B.

Based on Davis Selected Advisers's 13F filing for Q2 2026, filed 11 Aug 2026.