Investor: Christopher Davis
Number of Assets: 107
Reporting Period: Q3 - 2025
Holdings at Report: $19,154,485,365
Return Since Report: +$1,201,430,216
Return Since Report: +6.27%
Company | Position | Activity | Shares | Port. % | Rep. Price | Curr. Price | Rep. Value | Curr. Value | Return Value | Return % |
|---|---|---|---|---|---|---|---|---|---|---|
| Agco Corp. (AGCO) | Equity | +0.46% | 1,812,922 | 1.01% | $107.07 | $109.36 | $194,109,559 | $198,261,150 | +$4,151,591 | +2.14% |
| Alexandria Real Estate Equities Inc. (ARE) | Equity | +15.35% | 180,157 | 0.08% | $83.34 | $46.14 | $15,014,284 | $8,312,444 | -$6,701,840 | -44.64% |
| Alphabet Inc. (GOOGL) | Equity | -2.94% | 2,770,594 | 3.52% | $243.10 | $309.47 | $673,531,304 | $857,415,725 | +$183,884,421 | +27.30% |
| Alphabet Inc. (GOOG) | Equity | -0.67% | 646,051 | 0.82% | $243.55 | $310.80 | $157,345,721 | $200,792,651 | +$43,446,930 | +27.61% |
| Amazon.com Inc. (AMZN) | Equity | -4.01% | 3,137,986 | 3.60% | $219.57 | $226.83 | $689,007,586 | $711,789,364 | +$22,781,778 | +3.31% |
| American Express Company (AXP) | Equity | -8.34% | 247,940 | 0.43% | $332.16 | $380.07 | $82,355,848 | $94,234,556 | +$11,878,708 | +14.42% |
| American Homes 4 Rent (AMH) | Equity | +14.08% | 285,600 | 0.05% | $33.25 | $31.04 | $9,496,200 | $8,865,024 | -$631,176 | -6.65% |
| American Tower Corp. (AMT) | Equity | -28.35% | 65,670 | 0.07% | $192.32 | $180.63 | $12,629,654 | $11,861,972 | -$767,682 | -6.08% |
| Angi inc Class A | Equity | -19.71% | 949,006 | 0.08% | $16.26 | $0.00 | $15,430,837 | $0 | -$15,430,837 | -100% |
| Applied Materials Inc. (AMAT) | Equity | +12.03% | 5,553,992 | 5.94% | $204.74 | $259.38 | $1,137,124,285 | $1,440,594,445 | +$303,470,160 | +26.69% |
| Applovin Corp. (APP) | Equity | +3.95% | 223,574 | 0.84% | $718.54 | $681.46 | $160,646,862 | $152,356,738 | -$8,290,124 | -5.16% |
| Avalonbay Communities Inc. (AVB) | Equity | +15.15% | 66,580 | 0.07% | $193.17 | $176.21 | $12,861,259 | $11,732,062 | -$1,129,197 | -8.78% |
| Bank Of America Corp. (BAC) | Equity | -0.24% | 1,150,589 | 0.31% | $51.59 | $55.00 | $59,358,887 | $63,276,642 | +$3,917,755 | +6.60% |
| The Bank Of N.T. Butterfield & Son Limited (NTB) | Equity | -0.33% | 1,058,793 | 0.24% | $42.92 | $51.15 | $45,443,396 | $54,159,380 | +$8,715,984 | +19.18% |
| The Bank Of New York Mellon Corp. (BK) | Equity | -46.76% | 1,010,681 | 0.57% | $108.96 | $117.12 | $110,123,786 | $118,370,959 | +$8,247,173 | +7.49% |
| Berkshire Hathaway Inc. (BRK-A) | Equity | -6.29% | 998 | 3.93% | $754,200.00 | $745,241.06 | $752,691,600 | $743,750,580 | -$8,941,020 | -1.19% |
| Berkshire Hathaway Inc. (BRK-B) | Equity | -3.59% | 533,948 | 1.40% | $502.74 | $497.61 | $268,437,018 | $265,695,195 | -$2,741,823 | -1.02% |
| Brixmor Property Group Inc. (BRX) | Equity | +14.37% | 570,000 | 0.08% | $27.68 | $25.69 | $15,777,600 | $14,643,300 | -$1,134,300 | -7.19% |
| Bxp Inc. (BXP) | Equity | +14.37% | 239,760 | 0.09% | $74.34 | $70.77 | $17,823,758 | $16,967,815 | -$855,943 | -4.80% |
| Camden Property Trust (CPT) | Equity | +13.31% | 89,120 | 0.05% | $106.78 | $103.79 | $9,516,234 | $9,249,765 | -$266,469 | -2.80% |
| Capital One Financial Corp. (COF) | Equity | -6.43% | 8,380,117 | 9.30% | $212.58 | $237.02 | $1,781,445,282 | $1,986,230,191 | +$204,784,909 | +11.50% |
| The Charles Schwab Corp. (SCHW) | Equity | +0.00% | 296,441 | 0.15% | $95.47 | $95.70 | $28,301,222 | $28,369,404 | +$68,182 | +0.24% |
| Chime Financial Inc. (CHYM) | Equity | +100% | 2,399,166 | 0.25% | $20.17 | $26.24 | $48,391,178 | $62,954,116 | +$14,562,938 | +30.09% |
| Chubb Limited (CB) | Equity | -0.13% | 1,070,445 | 1.58% | $282.25 | $308.00 | $302,133,175 | $329,697,060 | +$27,563,885 | +9.12% |
| The Cigna Group (CI) | Equity | +0.07% | 656,318 | 0.99% | $288.25 | $273.43 | $189,183,664 | $179,453,749 | -$9,729,915 | -5.14% |
| Community Healthcare Trust Inc. (CHCT) | Equity | +0.27% | 333,190 | 0.03% | $15.30 | $15.28 | $5,097,807 | $5,089,477 | -$8,330 | -0.16% |
| ConocoPhillips (COP) | Equity | +0.87% | 1,599,311 | 0.79% | $94.59 | $95.35 | $151,278,828 | $152,494,304 | +$1,215,476 | +0.80% |
| Copt Defense Properties (CDP) | Equity | +104.84% | 302,120 | 0.05% | $29.06 | $29.46 | $8,779,607 | $8,900,455 | +$120,848 | +1.38% |
| Coterra Energy Inc. (CTRA) | Equity | +112.93% | 19,883,481 | 2.46% | $23.65 | $26.37 | $470,244,326 | $524,327,394 | +$54,083,068 | +11.50% |
| Cousins Properties Inc. (CUZ) | Equity | +11.32% | 512,355 | 0.08% | $28.94 | $25.07 | $14,827,554 | $12,844,740 | -$1,982,814 | -13.37% |
| Crown Castle Inc. (CCI) | Equity | +2.22% | 43,240 | 0.02% | $96.49 | $91.05 | $4,172,228 | $3,937,002 | -$235,226 | -5.64% |
| Crown Holdings Inc. (CCK) | Equity | 0% | 8,570 | 0.00% | $96.59 | $97.12 | $827,776 | $832,318 | +$4,542 | +0.55% |
| CVS Health Corp. (CVS) | Equity | -1.58% | 11,403,641 | 4.49% | $75.39 | $79.27 | $859,720,495 | $903,966,622 | +$44,246,127 | +5.15% |
| Darling Ingredients Inc. (DAR) | Equity | +0.42% | 2,453,940 | 0.40% | $30.87 | $37.02 | $75,753,128 | $90,844,859 | +$15,091,731 | +19.92% |
| Davis Select Financial ETF (DFNL) | Equity | 0% | 2,129,860 | 0.50% | $45.22 | $48.42 | $96,312,281 | $103,127,821 | +$6,815,540 | +7.08% |
| Davis Select International ETF (DINT) | Equity | 0% | 3,890,080 | 0.57% | $27.98 | $28.22 | $108,844,451 | $109,778,058 | +$933,607 | +0.86% |
| Davis Select U.S. Equity ETF (DUSA) | Equity | 0% | 3,383,338 | 0.85% | $47.90 | $51.41 | $162,062,531 | $173,937,407 | +$11,874,876 | +7.33% |
| Davis Select Worldwide ETF (DWLD) | Equity | 0% | 1,916,287 | 0.45% | $45.23 | $46.74 | $86,673,671 | $89,557,673 | +$2,884,002 | +3.33% |
| Digital Realty Trust Inc. (DLR) | Equity | +18.73% | 81,280 | 0.07% | $172.88 | $153.53 | $14,051,686 | $12,478,918 | -$1,572,768 | -11.19% |
| Douglas Emmett Inc. (DEI) | Equity | +14.76% | 317,600 | 0.03% | $15.57 | $13.57 | $4,945,032 | $4,308,244 | -$636,788 | -12.88% |
| Eastgroup Properties Inc. (EGP) | Equity | +14.76% | 52,940 | 0.05% | $169.26 | $182.96 | $8,960,624 | $9,685,902 | +$725,278 | +8.09% |
| Equinix Inc. (EQIX) | Equity | +39.20% | 21,803 | 0.09% | $783.24 | $748.52 | $17,076,982 | $16,319,982 | -$757,000 | -4.43% |
| Equity Residential (EQR) | Equity | +5.40% | 107,215 | 0.04% | $64.73 | $60.80 | $6,940,027 | $6,518,672 | -$421,355 | -6.07% |
| Essex Property Trust Inc. (ESS) | Equity | -40.61% | 16,951 | 0.02% | $267.66 | $257.97 | $4,537,105 | $4,372,849 | -$164,256 | -3.62% |
| Everest Group Ltd. (EG) | Equity | -0.18% | 39,428 | 0.07% | $350.23 | $328.04 | $13,808,868 | $12,933,961 | -$874,907 | -6.34% |
| Extra Space Storage Inc. (EXR) | Equity | -3.01% | 55,055 | 0.04% | $140.94 | $134.21 | $7,759,452 | $7,388,656 | -$370,796 | -4.78% |
| Fifth Third Bancorp. (FITB) | Equity | +6.21% | 2,668,869 | 0.62% | $44.55 | $47.98 | $118,898,114 | $128,038,990 | +$9,140,876 | +7.69% |
| Full Truck Alliance Co. Ltd. (YMM) | Equity | +28.75% | 14,981,773 | 1.01% | $12.97 | $11.72 | $194,313,596 | $175,586,380 | -$18,727,216 | -9.64% |
| Healthpeak Properties Inc. (DOC) | Equity | +14.82% | 446,866 | 0.04% | $19.15 | $16.61 | $8,557,484 | $7,420,210 | -$1,137,274 | -13.29% |
| Hudson Pacific Properties Inc. (HPP) | Equity | +0.18% | 2,300,183 | 0.03% | $2.76 | $12.36 | $6,348,505 | $28,418,761 | +$22,070,256 | +347.64% |
| Humana Inc. (HUM) | Equity | -76.67% | 385,539 | 0.52% | $260.17 | $268.51 | $100,305,682 | $103,521,077 | +$3,215,395 | +3.21% |
| IAC Inc. (IAC) | Equity | -1.63% | 2,243,689 | 0.40% | $34.07 | $38.54 | $76,442,484 | $86,460,556 | +$10,018,072 | +13.11% |
| Ishares S&P 500 Value ETF (IVE) | Equity | -39.75% | 6,614 | 0.01% | $206.51 | $213.44 | $1,365,857 | $1,411,692 | +$45,835 | +3.36% |
| JD.com Inc. (JD) | Equity | -0.52% | 341,711 | 0.06% | $34.98 | $29.42 | $11,953,051 | $10,051,429 | -$1,901,622 | -15.91% |
| Johnson Controls International PLC (JCI) | Equity | -24.18% | 186,004 | 0.11% | $109.95 | $114.64 | $20,451,140 | $21,323,499 | +$872,359 | +4.27% |
| JP Morgan Chase & Co. (JPM) | Equity | -6.35% | 595,626 | 0.98% | $315.43 | $317.26 | $187,878,341 | $188,968,305 | +$1,089,964 | +0.58% |
| KE Holdings Inc. (BEKE) | Equity | -0.05% | 1,851,804 | 0.18% | $19.00 | $17.30 | $35,184,276 | $32,026,950 | -$3,157,326 | -8.97% |
| Lam Research Corp. (LRCX) | Equity | 0% | 12,280 | 0.01% | $133.90 | $160.31 | $1,644,292 | $1,968,545 | +$324,253 | +19.72% |
| Loews Corp. (L) | Equity | -0.28% | 595,697 | 0.31% | $100.39 | $104.21 | $59,802,022 | $62,074,606 | +$2,272,584 | +3.80% |
| M&T Bank Corp. (MTB) | Equity | +0.16% | 51,027 | 0.05% | $197.62 | $202.99 | $10,083,956 | $10,357,716 | +$273,760 | +2.71% |
| Markel Group Inc. (MKL) | Equity | +0.65% | 373,528 | 3.73% | $1,911.36 | $2,160.37 | $713,946,478 | $806,958,685 | +$93,012,207 | +13.03% |
| Meta Platforms Inc. (META) | Equity | -18.61% | 1,715,514 | 6.58% | $734.38 | $646.63 | $1,259,839,100 | $1,109,302,818 | -$150,536,282 | -11.95% |
| MGM Resorts International (MGM) | Equity | +0.56% | 23,953,452 | 4.33% | $34.66 | $37.51 | $830,226,646 | $898,493,985 | +$68,267,339 | +8.22% |
| Microsoft Corp. (MSFT) | Equity | -78.91% | 52,306 | 0.14% | $517.95 | $478.84 | $27,091,893 | $25,046,205 | -$2,045,688 | -7.55% |
| Mid-America Apartment Communities Inc. (MAA) | Equity | +14.72% | 60,860 | 0.04% | $139.73 | $131.75 | $8,503,968 | $8,018,001 | -$485,967 | -5.71% |
| Netease Inc. (NTES) | Equity | +0.23% | 594,740 | 0.47% | $151.99 | $138.92 | $90,394,533 | $82,621,281 | -$7,773,252 | -8.60% |
| Netstreit Corp. (NTST) | Equity | +55.28% | 342,410 | 0.03% | $18.06 | $18.93 | $6,183,925 | $6,480,109 | +$296,184 | +4.79% |
| Noah Holdings Limited (NOAH) | Equity | 0% | 1,021,585 | 0.06% | $11.59 | $10.03 | $11,840,170 | $10,246,498 | -$1,593,672 | -13.46% |
| Nvidia Corp. (NVDA) | Equity | +0.74% | 89,795 | 0.09% | $186.58 | $176.35 | $16,753,951 | $15,835,348 | -$918,603 | -5.48% |
| Oracle Corp. (ORCL) | Equity | -49.04% | 67,052 | 0.10% | $281.24 | $189.67 | $18,857,704 | $12,717,753 | -$6,139,951 | -32.56% |
| Owens Corning (OC) | Equity | +0.47% | 1,777,367 | 1.31% | $141.46 | $116.11 | $251,426,336 | $206,370,082 | -$45,056,254 | -17.92% |
| Pinterest Inc. (PINS) | Equity | +100% | 7,892,057 | 1.33% | $32.17 | $26.15 | $253,887,474 | $206,337,830 | -$47,549,644 | -18.73% |
| The Pnc Financial Services Group Inc. (PNC) | Equity | -0.11% | 501,817 | 0.53% | $200.93 | $211.33 | $100,830,090 | $106,048,485 | +$5,218,395 | +5.18% |
| Prologis Inc. (PLD) | Equity | +53.35% | 198,166 | 0.12% | $114.52 | $130.27 | $22,693,970 | $25,814,292 | +$3,120,322 | +13.75% |
| Public Storage (PSA) | Equity | +10.42% | 44,610 | 0.07% | $288.85 | $274.46 | $12,885,599 | $12,243,438 | -$642,161 | -4.98% |
| Quest Diagnostics Inc. (DGX) | Equity | +0.53% | 1,361,612 | 1.35% | $190.58 | $181.99 | $259,496,015 | $247,799,768 | -$11,696,247 | -4.51% |
| Realty Inc.Ome Corp. (O) | Equity | +91.49% | 93,580 | 0.03% | $60.79 | $57.65 | $5,688,728 | $5,395,261 | -$293,467 | -5.16% |
| Regency Centers Corp. (REG) | Equity | +15.00% | 140,110 | 0.05% | $72.90 | $67.76 | $10,214,019 | $9,493,153 | -$720,866 | -7.06% |
| Renaissancere Holdings Ltd. (RNR) | Equity | +0.05% | 143,145 | 0.19% | $253.93 | $270.73 | $36,348,810 | $38,753,646 | +$2,404,836 | +6.62% |
| Restaurant Brands International Inc. (QSR) | Equity | +3.59% | 3,542,388 | 1.19% | $64.14 | $70.75 | $227,208,766 | $250,623,951 | +$23,415,185 | +10.31% |
| Rexford Industrial Realty Inc. (REXR) | Equity | +5.37% | 395,150 | 0.08% | $41.11 | $41.41 | $16,244,617 | $16,361,186 | +$116,569 | +0.72% |
| RH (RH) | Equity | 0% | 2,240 | 0.00% | $203.16 | $164.51 | $455,078 | $368,502 | -$86,576 | -19.02% |
| Rocket Companies Inc. (RKT) | Equity | +0.05% | 3,134,234 | 0.32% | $19.38 | $18.94 | $60,741,455 | $59,346,721 | -$1,394,734 | -2.30% |
| Sap Se (SAP) | Equity | +0.04% | 46,787 | 0.07% | $267.21 | $245.04 | $12,501,954 | $11,464,686 | -$1,037,268 | -8.30% |
| Sea Limited (SE) | Equity | -1.72% | 440,594 | 0.41% | $178.73 | $123.98 | $78,747,366 | $54,624,844 | -$24,122,522 | -30.63% |
| Simon Property Group Inc. (SPG) | Equity | +30.67% | 76,733 | 0.08% | $187.67 | $182.02 | $14,400,482 | $13,966,941 | -$433,541 | -3.01% |
| Solventum Corp. (SOLV) | Equity | +0.45% | 5,517,611 | 2.10% | $73.00 | $82.44 | $402,785,603 | $454,882,886 | +$52,097,283 | +12.93% |
| State Street Corp. (STT) | Equity | +43.65% | 103,785 | 0.06% | $116.01 | $127.15 | $12,040,098 | $13,196,263 | +$1,156,165 | +9.60% |
| Sun Communities Inc. (SUI) | Equity | +14.54% | 43,950 | 0.03% | $129.00 | $121.72 | $5,669,550 | $5,349,374 | -$320,176 | -5.65% |
| Sunstone Hotel Investors Inc. (SHO) | Equity | +13.53% | 1,311,800 | 0.06% | $9.37 | $9.22 | $12,291,566 | $12,094,796 | -$196,770 | -1.60% |
| Synopsys Inc. (SNPS) | Equity | +100% | 8,655 | 0.02% | $493.39 | $456.26 | $4,270,290 | $3,948,948 | -$321,342 | -7.53% |
| Taiwan Semiconductor Manufacturing Company Limited (TSM) | Equity | 0% | 7,200 | 0.01% | $279.29 | $294.28 | $2,010,888 | $2,118,816 | +$107,928 | +5.37% |
| Teck Resources Limited (TECK) | Equity | -0.10% | 11,023,662 | 2.53% | $43.89 | $42.84 | $483,828,525 | $472,253,680 | -$11,574,845 | -2.39% |
| Terreno Realty Corp. (TRNO) | Equity | +16.04% | 120,907 | 0.04% | $56.75 | $61.57 | $6,861,472 | $7,444,244 | +$582,772 | +8.49% |
| Texas Instruments Inc. (TXN) | Equity | -2.64% | 2,317,408 | 2.22% | $183.73 | $179.53 | $425,777,369 | $416,044,258 | -$9,733,111 | -2.29% |
| Trip.Com Group Limited (TCOM) | Equity | -0.16% | 4,941,445 | 1.94% | $75.20 | $70.67 | $371,596,664 | $349,211,918 | -$22,384,746 | -6.02% |
| Truist Financial Corp. (TFC) | Equity | +0.38% | 156,437 | 0.04% | $45.72 | $49.63 | $7,152,300 | $7,763,968 | +$611,668 | +8.55% |
| Tyson Foods Inc. (TSN) | Equity | +11.23% | 9,962,127 | 2.82% | $54.30 | $59.97 | $540,943,496 | $597,428,756 | +$56,485,260 | +10.44% |
| U.S. Bancorp. (USB) | Equity | +0.52% | 19,431,562 | 4.90% | $48.33 | $53.57 | $939,127,395 | $1,040,948,776 | +$101,821,381 | +10.84% |
| UDR Inc. (UDR) | Equity | +14.94% | 186,190 | 0.04% | $37.26 | $35.53 | $6,937,439 | $6,614,400 | -$323,039 | -4.66% |
| UnitedHealth Group Inc. (UNH) | Equity | +0.57% | 1,139,303 | 2.05% | $345.30 | $340.39 | $393,401,326 | $387,807,348 | -$5,593,978 | -1.42% |
| Vale S.A. (VALE) | Equity | -0.59% | 2,931,198 | 0.17% | $10.86 | $12.65 | $31,832,810 | $37,064,999 | +$5,232,189 | +16.44% |
| Ventas Inc. (VTR) | Equity | -42.30% | 117,330 | 0.04% | $69.99 | $77.67 | $8,211,927 | $9,113,021 | +$901,094 | +10.97% |
| Viatris Inc. (VTRS) | Equity | +4.47% | 69,345,645 | 3.58% | $9.90 | $11.64 | $686,521,885 | $807,460,690 | +$120,938,805 | +17.62% |
| Vici Properties Inc. (VICI) | Equity | +30.56% | 221,610 | 0.04% | $32.61 | $28.68 | $7,226,702 | $6,354,667 | -$872,035 | -12.07% |
| Wells Fargo & Company (WFC) | Equity | -4.77% | 7,786,052 | 3.41% | $83.82 | $92.69 | $652,626,920 | $721,689,160 | +$69,062,240 | +10.58% |
| Wesco International Inc. (WCC) | Equity | +0.63% | 292,570 | 0.32% | $211.50 | $260.05 | $61,878,555 | $76,082,829 | +$14,204,274 | +22.96% |