# EDGAR Filing Document

**Accession Number:** 0001036325
**File Stem:** 0001036325-25-000050
**Filing Date:** 2025-12
**Character Count:** 15881
**Document Hash:** 9dbbb8ec0d3a16cb5f389a2448e9854b
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001036325-25-000050.hdr.sgml**: 20251229

**ACCESSION NUMBER**: 0001036325-25-000050

**CONFORMED SUBMISSION TYPE**: 13F-HR/A

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251229

**DATE AS OF CHANGE**: 20251229

**EFFECTIVENESS DATE**: 20251229

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** DAVIS SELECTED ADVISERS
- **CENTRAL INDEX KEY:** 0001036325

**ORGANIZATION NAME:**
- **EIN:** 850360310
- **STATE OF INCORPORATION:** CO
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR/A
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-04121
- **FILM NUMBER:** 251608409

**BUSINESS ADDRESS:**
- **STREET 1:** 2949 E. ELVIRA ROAD
- **STREET 2:** SUITE 101
- **CITY:** TUCSON
- **STATE:** AZ
- **ZIP:** 85756
- **BUSINESS PHONE:** (520)806-7600

**MAIL ADDRESS:**
- **STREET 1:** 2949 E. ELVIRA ROAD
- **STREET 2:** SUITE 101
- **CITY:** TUCSON
- **STATE:** AZ
- **ZIP:** 85756

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 09-30-2025

**Check here if Amendment** [x] **Amendment Number:** 1

**This Amendment (Check only one.):** [x] is a restatement.

[ ] adds new holdings entries.

**Institutional Investment Manager Filing this Report:**

**Name:** Davis Selected Advisers<br>**Address:** 2949 E. Elvira Road<br>Tucson, AZ 85756

**Form 13F File Number:** 028-04121

**CRD Number (if applicable):** 000108674

**SEC File Number (if applicable):** 028-04121

The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form.

**Person Signing this Report on Behalf of Reporting Manager:**

**Name:** Michaela McLoughry<br>**Title:** Chief Compliance Officer<br>**Phone:** 520-434-3731

**Signature, Place, and Date of Signing:**

Michaela McLoughry  Tucson, AZ  12-29-2025<br>[Signature]  [City, State]  [Date]

**Report Type (Check only one.):**

[x] **13F HOLDINGS REPORT.** (Check here if all holdings of this reporting manager are reported in this report.)

[ ] **13F NOTICE.** (Check here if no holdings are reported in this report, and all holdings are reported by other reporting manager(s).)

[ ] **13F COMBINATION REPORT.** (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).)

### Form 13F Summary Page

**Report Summary:**

**Number of Other Included Managers:** 0

**Form 13F Information Table Entry Total:** 107

**Form 13F Information Table Value Total:** $19154485365

      (round to nearest dollar)

**List of Other Included Managers:**

Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report.

[If there are no entries in this list, state “NONE” and omit the column headings and list entries.]

**NONE**

### FORM 13F INFORMATION TABLE

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | VOTING AUTHORITY | VOTING AUTHORITY | VOTING AUTHORITY |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | SOLE | SHARED | NONE |
| AGCO Corporation | Common Stock | 001084102 |  | 194109559 | 1812922 | SH |  | SOLE |  | 1737097 | 0 | 75825 |
| Alexandria Real Estate Equities Inc. | Common Stock | 015271109 |  | 15014284 | 180157 | SH |  | SOLE |  | 86633 | 0 | 93524 |
| Alphabet Inc. Class A | Common Stock | 02079K305 |  | 673531304 | 2770594 | SH |  | SOLE |  | 2670650 | 0 | 99944 |
| Alphabet Inc. Class C | Common Stock | 02079K107 |  | 157345721 | 646051 | SH |  | SOLE |  | 630406 | 0 | 15645 |
| Amazon.com Inc. | Common Stock | 023135106 |  | 689007586 | 3137986 | SH |  | SOLE |  | 3039009 | 0 | 98977 |
| American Express Co. | Common Stock | 025816109 |  | 82355848 | 247940 | SH |  | SOLE |  | 246383 | 0 | 1557 |
| American Homes 4 Rent - Class A | Common Stock | 02665T306 |  | 9496200 | 285600 | SH |  | SOLE |  | 146260 | 0 | 139340 |
| American Tower Corp | Common Stock | 03027X100 |  | 12629654 | 65670 | SH |  | SOLE |  | 38640 | 0 | 27030 |
| ANGI Inc. Class A | Common Stock | 00183L201 |  | 15430837 | 949006 | SH |  | SOLE |  | 949006 | 0 | 0 |
| Applied Materials Inc. | Common Stock | 038222105 |  | 1137124285 | 5553992 | SH |  | SOLE |  | 5370914 | 0 | 183078 |
| AppLovin Corp. Class A | Common Stock | 03831W108 |  | 160646862 | 223574 | SH |  | SOLE |  | 214915 | 0 | 8659 |
| AvalonBay Communities Inc. | Common Stock | 053484101 |  | 12861259 | 66580 | SH |  | SOLE |  | 32770 | 0 | 33810 |
| Bank of America Corp. | Common Stock | 060505104 |  | 59358887 | 1150589 | SH |  | SOLE |  | 1150589 | 0 | 0 |
| Bank of N.T. Butterfield  Son Limited | Common Stock | G0772R208 |  | 45443396 | 1058793 | SH |  | SOLE |  | 1058793 | 0 | 0 |
| Bank of New York Mellon Corp. | Common Stock | 064058100 |  | 110123786 | 1010681 | SH |  | SOLE |  | 1000529 | 0 | 10152 |
| Berkshire Hathaway Inc. Class A | Common Stock | 084670108 |  | 752691600 | 998 | SH |  | SOLE |  | 998 | 0 | 0 |
| Berkshire Hathaway Inc. Class B | Common Stock | 084670702 |  | 268437018 | 533948 | SH |  | SOLE |  | 482148 | 0 | 51800 |
| Brixmor Property Group Inc. | Common Stock | 11120U105 |  | 15777600 | 570000 | SH |  | SOLE |  | 299910 | 0 | 270090 |
| BXP Inc. | Common Stock | 101121101 |  | 17823758 | 239760 | SH |  | SOLE |  | 120880 | 0 | 118880 |
| Camden Property Trust | Common Stock | 133131102 |  | 9516234 | 89120 | SH |  | SOLE |  | 47970 | 0 | 41150 |
| Capital One Financial Corp. | Common Stock | 14040H105 |  | 1781445282 | 8380117 | SH |  | SOLE |  | 8206502 | 0 | 173615 |
| Charles Schwab Corp. | Common Stock | 808513105 |  | 28301222 | 296441 | SH |  | SOLE |  | 296441 | 0 | 0 |
| Chime Financial Inc. | Common Stock | 16935C109 |  | 48391178 | 2399166 | SH |  | SOLE |  | 2399166 | 0 | 0 |
| Chubb Ltd. | Common Stock | H1467J104 |  | 302133175 | 1070445 | SH |  | SOLE |  | 1043895 | 0 | 26550 |
| Cigna Group | Common Stock | 125523100 |  | 189183664 | 656318 | SH |  | SOLE |  | 623624 | 0 | 32694 |
| Community Healthcare Trust Inc. | Common Stock | 20369C106 |  | 5097807 | 333190 | SH |  | SOLE |  | 169500 | 0 | 163690 |
| ConocoPhillips | Common Stock | 20825C104 |  | 151278828 | 1599311 | SH |  | SOLE |  | 1541821 | 0 | 57490 |
| COPT Defense Properties | Common Stock | 22002T108 |  | 8779607 | 302120 | SH |  | SOLE |  | 145510 | 0 | 156610 |
| Coterra Energy Inc. | Common Stock | 127097103 |  | 470244326 | 19883481 | SH |  | SOLE |  | 19213808 | 0 | 669673 |
| Cousins Properties Inc. | Common Stock | 222795502 |  | 14827554 | 512355 | SH |  | SOLE |  | 256840 | 0 | 255515 |
| Crown Castle Inc. | Common Stock | 22822V101 |  | 4172228 | 43240 | SH |  | SOLE |  | 24150 | 0 | 19090 |
| Crown Holdings Inc. | Common Stock | 228368106 |  | 827776 | 8570 | SH |  | SOLE |  | 8570 | 0 | 0 |
| CVS Health Corporation | Common Stock | 126650100 |  | 859720495 | 11403641 | SH |  | SOLE |  | 11032563 | 0 | 371078 |
| Darling Ingredients Inc. | Common Stock | 237266101 |  | 75753128 | 2453940 | SH |  | SOLE |  | 2317844 | 0 | 136096 |
| Davis Select Financial ETF | ETF | 23908L108 |  | 96312281 | 2129860 | SH |  | SOLE |  | 0 | 0 | 0 |
| Davis Select International ETF | ETF | 23908L405 |  | 108844451 | 3890080 | SH |  | SOLE |  | 0 | 0 | 0 |
| Davis Select U.S. Equity ETF | ETF | 23908L207 |  | 162062531 | 3383338 | SH |  | SOLE |  | 0 | 0 | 0 |
| Davis Select Worldwide ETF | ETF | 23908L306 |  | 86673671 | 1916287 | SH |  | SOLE |  | 0 | 0 | 0 |
| Digital Realty Trust Inc. | Common Stock | 253868103 |  | 14051686 | 81280 | SH |  | SOLE |  | 38010 | 0 | 43270 |
| Douglas Emmett Inc | Common Stock | 25960P109 |  | 4945032 | 317600 | SH |  | SOLE |  | 159390 | 0 | 158210 |
| Eastgroup Properties Inc. | Common Stock | 277276101 |  | 8960624 | 52940 | SH |  | SOLE |  | 26360 | 0 | 26580 |
| Equinix Inc. | Common Stock | 29444U700 |  | 17076982 | 21803 | SH |  | SOLE |  | 9433 | 0 | 12370 |
| Equity Residential | Common Stock | 29476L107 |  | 6940027 | 107215 | SH |  | SOLE |  | 58570 | 0 | 48645 |
| Essex Property Trust Inc. | Common Stock | 297178105 |  | 4537105 | 16951 | SH |  | SOLE |  | 8270 | 0 | 8681 |
| Everest Group Ltd. | Common Stock | G3223R108 |  | 13808868 | 39428 | SH |  | SOLE |  | 39428 | 0 | 0 |
| Extra Space Storage Inc. | Common Stock | 30225T102 |  | 7759452 | 55055 | SH |  | SOLE |  | 31930 | 0 | 23125 |
| Fifth Third Bancorp | Common Stock | 316773100 |  | 118898114 | 2668869 | SH |  | SOLE |  | 2668869 | 0 | 0 |
| Full Truck Alliance Co. Ltd. ADR | ADR | 35969L108 |  | 194313596 | 14981773 | SH |  | SOLE |  | 14981773 | 0 | 0 |
| Healthpeak Properties Inc. | Common Stock | 42250P103 |  | 8557484 | 446866 | SH |  | SOLE |  | 219150 | 0 | 227716 |
| Hudson Pacific Properties Inc. | Common Stock | 444097109 |  | 6348505 | 2300183 | SH |  | SOLE |  | 1289340 | 0 | 1010843 |
| Humana Inc. | Common Stock | 444859102 |  | 100305682 | 385539 | SH |  | SOLE |  | 359700 | 0 | 25839 |
| IAC Inc. | Common Stock | 44891N208 |  | 76442484 | 2243689 | SH |  | SOLE |  | 2155123 | 0 | 88566 |
| iShares S 500 Value Index Fund | ETF | 464287408 |  | 1365857 | 6614 | SH |  | SOLE |  | 2974 | 0 | 3640 |
| JD.com Inc. Class A ADR | ADR | 47215P106 |  | 11953051 | 341711 | SH |  | SOLE |  | 341711 | 0 | 0 |
| Johnson Controls International plc | Common Stock | G51502105 |  | 20451140 | 186004 | SH |  | SOLE |  | 167668 | 0 | 18336 |
| JPMorgan Chase  Co. | Common Stock | 46625H100 |  | 187878341 | 595626 | SH |  | SOLE |  | 592405 | 0 | 3221 |
| KE Holdings Inc. Class A ADR | ADR | 482497104 |  | 35184276 | 1851804 | SH |  | SOLE |  | 1851804 | 0 | 0 |
| Lam Research Corp. | Common Stock | 512807306 |  | 1644292 | 12280 | SH |  | SOLE |  | 12280 | 0 | 0 |
| Loews Corp. | Common Stock | 540424108 |  | 59802022 | 595697 | SH |  | SOLE |  | 595697 | 0 | 0 |
| M  T Bank Corp | Common Stock | 55261F104 |  | 10083956 | 51027 | SH |  | SOLE |  | 51027 | 0 | 0 |
| Markel Group Inc | Common Stock | 570535104 |  | 713946478 | 373528 | SH |  | SOLE |  | 361888 | 0 | 11640 |
| Meta Platforms Inc. Class A | Common Stock | 30303M102 |  | 1259839100 | 1715514 | SH |  | SOLE |  | 1669821 | 0 | 45693 |
| MGM Resorts International | Common Stock | 552953101 |  | 830226646 | 23953452 | SH |  | SOLE |  | 23224456 | 0 | 728996 |
| Microsoft Corp. | Common Stock | 594918104 |  | 27091893 | 52306 | SH |  | SOLE |  | 47796 | 0 | 4510 |
| Mid-America Apartment Communities Inc. | Common Stock | 59522J103 |  | 8503968 | 60860 | SH |  | SOLE |  | 30240 | 0 | 30620 |
| NetEase Inc. - ADR | ADR | 64110W102 |  | 90394533 | 594740 | SH |  | SOLE |  | 594740 | 0 | 0 |
| NetSTREIT Corp. | Common Stock | 64119V303 |  | 6183925 | 342410 | SH |  | SOLE |  | 181620 | 0 | 160790 |
| Noah Holdings Ltd. Class A ADS | ADR | 65487X102 |  | 11840170 | 1021585 | SH |  | SOLE |  | 1021585 | 0 | 0 |
| NVIDIA Corp. | Common Stock | 67066G104 |  | 16753951 | 89795 | SH |  | SOLE |  | 79006 | 0 | 10789 |
| Oracle Corporation | Common Stock | 68389X105 |  | 18857704 | 67052 | SH |  | SOLE |  | 57196 | 0 | 9856 |
| Owens Corning | Common Stock | 690742101 |  | 251426336 | 1777367 | SH |  | SOLE |  | 1693442 | 0 | 83925 |
| Pinterest Inc. Class A | Common Stock | 72352L106 |  | 253887474 | 7892057 | SH |  | SOLE |  | 7739680 | 0 | 152377 |
| PNC Financial Services Group Inc. | Common Stock | 693475105 |  | 100830090 | 501817 | SH |  | SOLE |  | 501817 | 0 | 0 |
| Prologis Inc. | Common Stock | 74340W103 |  | 22693970 | 198166 | SH |  | SOLE |  | 77189 | 0 | 120977 |
| Public Storage Inc. | Common Stock | 74460D109 |  | 12885599 | 44610 | SH |  | SOLE |  | 20480 | 0 | 24130 |
| Quest Diagnostics Inc. | Common Stock | 74834L100 |  | 259496015 | 1361612 | SH |  | SOLE |  | 1275063 | 0 | 86549 |
| Realty Income Corp. | Common Stock | 756109104 |  | 5688728 | 93580 | SH |  | SOLE |  | 0 | 0 | 93580 |
| Regency Centers Corporation | Common Stock | 758849103 |  | 10214019 | 140110 | SH |  | SOLE |  | 69220 | 0 | 70890 |
| RenaissanceRe Holdings Ltd | Common Stock | G7496G103 |  | 36348810 | 143145 | SH |  | SOLE |  | 143145 | 0 | 0 |
| Restaurant Brands International Inc. | Common Stock | 76131D103 |  | 227208766 | 3542388 | SH |  | SOLE |  | 3468953 | 0 | 73435 |
| Rexford Industrial Realty Inc. | Common Stock | 76169C100 |  | 16244617 | 395150 | SH |  | SOLE |  | 201180 | 0 | 193970 |
| RH | Common Stock | 74967X103 |  | 455078 | 2240 | SH |  | SOLE |  | 2240 | 0 | 0 |
| Rocket Companies Inc. Class A | Common Stock | 77311W101 |  | 60741455 | 3134234 | SH |  | SOLE |  | 3134234 | 0 | 0 |
| SAP SE - ADR | ADR | 803054204 |  | 12501954 | 46787 | SH |  | SOLE |  | 41891 | 0 | 4896 |
| Sea Ltd. Class A ADR | ADR | 81141R100 |  | 78747366 | 440594 | SH |  | SOLE |  | 440594 | 0 | 0 |
| Simon Property Group Inc. | Common Stock | 828806109 |  | 14400482 | 76733 | SH |  | SOLE |  | 35873 | 0 | 40860 |
| Solventum Corp. | Common Stock | 83444M101 |  | 402785603 | 5517611 | SH |  | SOLE |  | 5319270 | 0 | 198341 |
| State Street Corp. | Common Stock | 857477103 |  | 12040098 | 103785 | SH |  | SOLE |  | 103785 | 0 | 0 |
| Sun Communities Inc. | Common Stock | 866674104 |  | 5669550 | 43950 | SH |  | SOLE |  | 22460 | 0 | 21490 |
| Sunstone Hotel Investors Inc. | Common Stock | 867892101 |  | 12291566 | 1311800 | SH |  | SOLE |  | 713790 | 0 | 598010 |
| Synopsys Inc. | Common Stock | 871607107 |  | 4270290 | 8655 | SH |  | SOLE |  | 8655 | 0 | 0 |
| Taiwan Semiconductor Manufacturing ADR | ADR | 874039100 |  | 2010888 | 7200 | SH |  | SOLE |  | 7200 | 0 | 0 |
| Teck Resources Ltd. Class B | Common Stock | 878742204 |  | 483828525 | 11023662 | SH |  | SOLE |  | 10627119 | 0 | 396543 |
| Terreno Realty Corp. | Common Stock | 88146M101 |  | 6861472 | 120907 | SH |  | SOLE |  | 56184 | 0 | 64723 |
| Texas Instruments Inc. | Common Stock | 882508104 |  | 425777369 | 2317408 | SH |  | SOLE |  | 2221930 | 0 | 95478 |
| Trip.com Group Ltd. ADR | ADR | 89677Q107 |  | 371596664 | 4941445 | SH |  | SOLE |  | 4941445 | 0 | 0 |
| Truist Financial Corp. | Common Stock | 89832Q109 |  | 7152300 | 156437 | SH |  | SOLE |  | 156437 | 0 | 0 |
| Tyson Foods Inc | Common Stock | 902494103 |  | 540943496 | 9962127 | SH |  | SOLE |  | 9673131 | 0 | 288996 |
| U.S. Bancorp | Common Stock | 902973304 |  | 939127395 | 19431562 | SH |  | SOLE |  | 18837598 | 0 | 593964 |
| UDR Inc. | Common Stock | 902653104 |  | 6937439 | 186190 | SH |  | SOLE |  | 89280 | 0 | 96910 |
| UnitedHealth Group Inc. | Common Stock | 91324P102 |  | 393401326 | 1139303 | SH |  | SOLE |  | 1106066 | 0 | 33237 |
| Vale S.A. ADR | ADR | 91912E105 |  | 31832810 | 2931198 | SH |  | SOLE |  | 2931198 | 0 | 0 |
| Ventas Inc. | Common Stock | 92276F100 |  | 8211927 | 117330 | SH |  | SOLE |  | 55770 | 0 | 61560 |
| Viatris Inc. | Common Stock | 92556V106 |  | 686521885 | 69345645 | SH |  | SOLE |  | 66746539 | 0 | 2599106 |
| VICI Properties Inc. | Common Stock | 925652109 |  | 7226702 | 221610 | SH |  | SOLE |  | 92550 | 0 | 129060 |
| Wells Fargo  Co. | Common Stock | 949746101 |  | 652626920 | 7786052 | SH |  | SOLE |  | 7594474 | 0 | 191578 |
| Wesco International Inc. | Common Stock | 95082P105 |  | 61878555 | 292570 | SH |  | SOLE |  | 255624 | 0 | 36946 |

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