1y return+9.6%S&P 500 +20.9%
3y return+80.2%S&P 500 +68.5%
These returns are for its stock picks as disclosed on Form 13F: last quarter's holdings, valued at this quarter's prices. They miss trades within each quarter, short positions, options, bonds, cash and fees, so they aren't the returns its clients got.
$100 invested in its stock picks
Since September 30, 2022: $187 against $209 in the S&P 500.2
Davis Asset Management, L.P.S&P 500 (SPY)
Top holdings
At the end of June 30, 2026. Change is in shares since the quarter before.2
| Stock | Value | Share of portfolio | Change |
|---|---|---|---|
| GOOGAlphabet Inc | $370.8M | 9.4% | +5.0% |
| BRK/ABerkshire Hathaway Inc Del Cl A Frmly | $363.9M | 9.2% | +2.3% |
| METAMeta Platforms | $291.2M | 7.4% | |
| WALWestern Alliance Bancorp | $274.2M | 6.9% | +8.2% |
| MKLMarkel | $179.9M | 4.6% | +30.4% |
| BRK/BBerkshire Hathaway Inc Del Cl B Frmly | $177.2M | 4.5% | +12.2% |
| Chubb LimitedCUSIP H1467J104 | $168.5M | 4.3% | |
| CRBGCorebridge Financial | $166.1M | 4.2% | |
| JPMJPMorgan Chase & Co | $161.7M | 4.1% | +5.4% |
| AXAXOS Financial Inc | $149.5M | 3.8% | |
| PGRProgressive Corp | $110.2M | 2.8% | |
| VVisa Inc | $109.8M | 2.8% | |
| GPNGlobal Payments Inc. | $107.8M | 2.7% | |
| FAFFirst American Financial Corp | $102.9M | 2.6% | |
| MTBM&T Bank | $97.6M | 2.5% | |
| GSGoldman Sachs Group Inc. | $93.4M | 2.4% | |
| Accenture PLC Cl ACUSIP G1151C101 | $92.1M | 2.3% | +37.0% |
| SFBSServisfirst Bancshares Inc | $79.0M | 2.0% | |
| FSBCFive Star Bancorp | $73.6M | 1.9% | |
| VMRKEquity Residential | $72.3M | 1.8% | |
| Arch Capital Group LTDCUSIP G0450A105 | $63.1M | 1.6% | |
| BABAAlibaba | $58.3M | 1.5% | |
| MKTXMarketaxess Hldgs Inc | $56.7M | 1.4% | +359.4% |
| TCBKTriCo Bancshares | $56.4M | 1.4% | |
| ABCBAmeris Bancorp | $56.1M | 1.4% |
Best picks still held
How each current holding has done since the quarter it first appeared in its filings (up to six years back).
| Stock | Held since | Return since | Now worth |
|---|---|---|---|
| METAMeta Platforms | September 30, 2022 | +315.2% | $291.2M |
| GOOGAlphabet Inc | September 30, 2022 | +267.5% | $370.8M |
| AXAXOS Financial Inc | September 30, 2022 | +184.5% | $149.5M |
| Arch Capital Group LTDCUSIP G0450A105 | September 30, 2022 | +113.1% | $63.1M |
| AMATApplied Materials Inc. | March 31, 2026 | +111.5% | $4.8M |
| MTBM&T Bank | March 31, 2023 | +99.1% | $97.6M |
| VVisa Inc | September 30, 2022 | +93.1% | $109.8M |
| ABCBAmeris Bancorp | December 31, 2022 | +91.5% | $56.1M |
| BRK/BBerkshire Hathaway Inc Del Cl B Frmly | September 30, 2022 | +87.4% | $177.2M |
| Chubb LimitedCUSIP H1467J104 | September 30, 2022 | +87.3% | $168.5M |
Sold off last quarter
Quarter by quarter
| Quarter | Its picks | S&P 500 |
|---|---|---|
| June 30, 2026 | +8.1% | +14.8% |
| March 31, 2026 | −7.5% | −4.6% |
| December 31, 2025 | +2.1% | +2.4% |
| September 30, 2025 | +7.4% | +7.8% |
| June 30, 2025 | +5.7% | +10.5% |
| March 31, 2025 | −1.9% | −4.6% |
| December 31, 2024 | +4.8% | +2.1% |
| September 30, 2024 | +12.6% | +5.4% |
| June 30, 2024 | −0.8% | +4.0% |
| March 31, 2024 | +10.5% | +10.0% |
| December 31, 2023 | +16.7% | +11.2% |
| September 30, 2023 | +5.1% | −3.6% |
| June 30, 2023 | +3.0% | +8.3% |
| March 31, 2023 | −4.1% | +7.0% |
| December 31, 2022 | +5.0% | +7.1% |
Sources
Every number on this page points here. Each one links to the public record.
- 1SEC EDGAR: Davis Asset Management, L.P. Form 13F filingshttps://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1945894&type=13F-HR&dateb=&owner=include&count=40CIK 1945894
- 2SEC: 13F for the quarter ended June 30, 2026https://www.sec.gov/Archives/edgar/data/1945894/000110465926095017/Filed August 12, 2026 · accession 0001104659-26-095017