DAVIS SELECTED ADVISERS

CIK 0001036325 · Q2 2026

13F Equity AUM

$23.3B

+6.9% QoQ

Positions

112

0 QoQ

AUM Rank

#301

Top 3%

Skill Alpha (FF)

+0.8%/yr^ns

No Clear Edge

Rank #2,010 · Top 24%

vs S&P +0.5%/yr (unadj.)

Quarters Tracked

~13 years

Portfolio Concentration

Top 5: 28.0%Top 10: 48.8%Top 20: 74.3%

COF7.1%

USB5.6%

CVS5.3%

VTRS5.1%

MGM4.9%

GOOGL4.5%

DVN4.5%

AMZN4.4%

META4.0%

MKL3.4%

Others (102)51.2%

HHI (Herfindahl-Hirschman Index) measures portfolio concentration. Low (<1500) = diversified, Moderate (1500-2500), High (>2500) = concentrated bets.

Sector Allocation

Financial Services28.9%

Healthcare18.9%

Consumer Cyclical12.5%

Communication Services10.5%

Technology6.5%

Consumer Defensive5.7%

Energy5.3%

Basic Materials4.3%

Other7.4%

Portfolio weight by GICS sector based on latest 13F filing. Sectors below 2% are grouped as “Other.”

Position Sizing

Positions: 112Median: 0.12%Avg: 0.89%

0–0.5%

74(7.6%)

0.5–1%

11(8.3%)

1–3%

15(29.1%)

3–5%

8(31.9%)

5%+

4(23.1%)

Count of positions per weight bucket — (%) = combined portfolio weight

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Portfolio Overlap

Shared: 0Unique: 112vs 20 funds

0%Low

112

Fund positions

Consensus CUSIPs

Jaccard similarity of this fund’s portfolio vs the consensus of top 20 funds by AUM. Low (<15%) = contrarian, Moderate (15-40%), High (>40%) = follows the crowd.

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Position Changes This Quarter

New2Increased18Decreased87Exited2

New Positions

DVN4.5%

+25.3M

SBAC0.0%

+41K

Increased

JBS2.5%

+23.8M(+91%)

LYB2.0%

+3.1M(+55%)

CLV1.5%

+2.2M(+34%)

AMZN4.4%

+851K(+25%)

NTES0.3%

+190K(+45%)

PINS1.1%

+175K(+1%)

SE0.8%

+162K(+9%)

FRMI0.0%

+146K(+48%)

AMH0.1%

+48K(+17%)

NVDA0.1%

+41K(+36%)

Decreased

VTRS5.1%

-2,978,937(-4%)

TECK/B2.1%

-2,221,166(-21%)

YMM1.0%

-1,124,109(-4%)

AMAT0.3%

-1,094,581(-91%)

QSR0.9%

-798,782(-22%)

USB5.6%

-784,450(-4%)

TSN3.1%

-436,972(-3%)

TXN3.1%

-412,185(-14%)

MGM4.9%

-392,021(-2%)

CVS5.3%

-373,750(-3%)

Exited

CTRA

-37,119,404

8CW

-41,920

Quarter-over-quarter changes compared to prior 13F filing. New = first appearance; Exited = no longer held.

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Holdings

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