# EDGAR Filing Document

**Accession Number:** 0001036325
**File Stem:** 0000071701-25-000029
**Filing Date:** 2025-8
**Character Count:** 15325
**Document Hash:** f38bcd661bd912be3d93b74a4aef6bea
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000071701-25-000029.hdr.sgml**: 20250808

**ACCESSION NUMBER**: 0000071701-25-000029

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

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250808

**DATE AS OF CHANGE**: 20250808

**EFFECTIVENESS DATE**: 20250808

**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
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-04121
- **FILM NUMBER:** 251197721

**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:** 06-30-2025

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

**This Amendment (Check only one.):** [ ] 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  07-24-2025<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:** $18702346980

      (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 | 001084102 |  | 186158822 | 1804564 | SH |  | SOLE |  | 1730899 | 0 | 73665 |
| Alexandria Real Estate Equities Inc. | Common | 015271109 |  | 11343862 | 156187 | SH |  | SOLE |  | 82813 | 0 | 73374 |
| Alphabet Inc. Class A | Common | 02079K305 |  | 503033259 | 2854413 | SH |  | SOLE |  | 2752631 | 0 | 101782 |
| Alphabet Inc. Class C | Common | 02079K107 |  | 115372682 | 650390 | SH |  | SOLE |  | 635127 | 0 | 15263 |
| Amazon.com Inc. | Common | 023135106 |  | 717221231 | 3269161 | SH |  | SOLE |  | 3169389 | 0 | 99772 |
| American Express Co. | Common | 025816109 |  | 86284092 | 270500 | SH |  | SOLE |  | 268947 | 0 | 1553 |
| American Homes 4 Rent - Class A | Common | 02665T306 |  | 9030485 | 250360 | SH |  | SOLE |  | 141040 | 0 | 109320 |
| American Tower Corp | Common | 03027X100 |  | 20256483 | 91650 | SH |  | SOLE |  | 50850 | 0 | 40800 |
| ANGI Inc. Class A | Common | 00183L201 |  | 18035962 | 1181911 | SH |  | SOLE |  | 1142154 | 0 | 39757 |
| Apple Inc. | Common | 037833100 |  | 259540 | 1265 | SH |  | SOLE |  | 1265 | 0 | 0 |
| Applied Materials Inc. | Common | 038222105 |  | 907586623 | 4957593 | SH |  | SOLE |  | 4785682 | 0 | 171911 |
| AppLovin Corp. Class A | Common | 03831W108 |  | 75292756 | 215073 | SH |  | SOLE |  | 207771 | 0 | 7302 |
| AvalonBay Communities Inc. | Common | 053484101 |  | 11766370 | 57820 | SH |  | SOLE |  | 31290 | 0 | 26530 |
| Bank of America Corp. | Common | 060505104 |  | 54578746 | 1153397 | SH |  | SOLE |  | 1153397 | 0 | 0 |
| Bank of N.T. Butterfield  Son Limited | Common | G0772R208 |  | 47037050 | 1062264 | SH |  | SOLE |  | 1062264 | 0 | 0 |
| Bank of New York Mellon Corp. | Common | 064058100 |  | 172965937 | 1898430 | SH |  | SOLE |  | 1888330 | 0 | 10100 |
| Berkshire Hathaway Inc. Class A | Common | 084670108 |  | 776172000 | 1065 | SH |  | SOLE |  | 1065 | 0 | 0 |
| Berkshire Hathaway Inc. Class B | Common | 084670702 |  | 269041285 | 553845 | SH |  | SOLE |  | 500771 | 0 | 53074 |
| Brixmor Property Group Inc. | Common | 11120U105 |  | 12978076 | 498390 | SH |  | SOLE |  | 286460 | 0 | 211930 |
| BXP Inc. | Common | 101121101 |  | 14143736 | 209630 | SH |  | SOLE |  | 116350 | 0 | 93280 |
| Camden Property Trust | Common | 133131102 |  | 8863069 | 78650 | SH |  | SOLE |  | 46360 | 0 | 32290 |
| Capital One Financial Corp. | Common | 14040H105 |  | 1905423658 | 8955742 | SH |  | SOLE |  | 8773137 | 0 | 182605 |
| Charles Schwab Corp. | Common | 808513105 |  | 27047003 | 296438 | SH |  | SOLE |  | 296438 | 0 | 0 |
| Chubb Ltd. | Common | H1467J104 |  | 310528656 | 1071823 | SH |  | SOLE |  | 1045345 | 0 | 26478 |
| Cigna Group | Common | 125523100 |  | 216823786 | 655889 | SH |  | SOLE |  | 624002 | 0 | 31887 |
| Community Healthcare Trust Inc. | Common | 20369C106 |  | 5525816 | 332280 | SH |  | SOLE |  | 170520 | 0 | 161760 |
| ConocoPhillips | Common | 20825C104 |  | 142290578 | 1585587 | SH |  | SOLE |  | 1528842 | 0 | 56745 |
| COPT Defense Properties | Common | 22002T108 |  | 4067774 | 147490 | SH |  | SOLE |  | 76140 | 0 | 71350 |
| Coterra Energy Inc. | Common | 127097103 |  | 237002019 | 9338141 | SH |  | SOLE |  | 9031177 | 0 | 306964 |
| Coupang Inc. Class A | Common | 22266T109 |  | 172419740 | 5754998 | SH |  | SOLE |  | 5754998 | 0 | 0 |
| Cousins Properties Inc. | Common | 222795502 |  | 13820857 | 460235 | SH |  | SOLE |  | 259740 | 0 | 200495 |
| Crown Castle Inc. | Common | 22822V101 |  | 4345479 | 42300 | SH |  | SOLE |  | 22890 | 0 | 19410 |
| Crown Holdings Inc. | Common | 228368106 |  | 882539 | 8570 | SH |  | SOLE |  | 8570 | 0 | 0 |
| CVS Health Corporation | Common | 126650100 |  | 799256774 | 11586790 | SH |  | SOLE |  | 11191332 | 0 | 395458 |
| Darling Ingredients Inc. | Common | 237266101 |  | 92709046 | 2443570 | SH |  | SOLE |  | 2312523 | 0 | 131047 |
| Davis Select Financial ETF | ETF | 23908L108 |  | 91456200 | 2129860 | SH |  | SOLE |  | 2129860 | 0 | 0 |
| Davis Select International ETF | ETF | 23908L405 |  | 100597480 | 3890080 | SH |  | SOLE |  | 3890080 | 0 | 0 |
| Davis Select U.S. Equity ETF | ETF | 23908L207 |  | 156580879 | 3383338 | SH |  | SOLE |  | 3383338 | 0 | 0 |
| Davis Select Worldwide ETF | ETF | 23908L306 |  | 79411504 | 1916287 | SH |  | SOLE |  | 1916287 | 0 | 0 |
| Digital Realty Trust Inc. | Common | 253868103 |  | 11934632 | 68460 | SH |  | SOLE |  | 38440 | 0 | 30020 |
| Douglas Emmett Inc | Common | 25960P109 |  | 4162320 | 276750 | SH |  | SOLE |  | 152610 | 0 | 124140 |
| Eastgroup Properties Inc. | Common | 277276101 |  | 7709246 | 46130 | SH |  | SOLE |  | 25270 | 0 | 20860 |
| Equinix Inc. | Common | 29444U700 |  | 12459447 | 15663 | SH |  | SOLE |  | 9093 | 0 | 6570 |
| Equity Residential | Common | 29476L107 |  | 6865420 | 101725 | SH |  | SOLE |  | 59250 | 0 | 42475 |
| Essex Property Trust Inc. | Common | 297178105 |  | 8088519 | 28541 | SH |  | SOLE |  | 16600 | 0 | 11941 |
| Everest Group Ltd. | Common | G3223R108 |  | 13424075 | 39500 | SH |  | SOLE |  | 39500 | 0 | 0 |
| Extra Space Storage Inc. | Common | 30225T102 |  | 8369432 | 56765 | SH |  | SOLE |  | 34890 | 0 | 21875 |
| Exxon Mobil Corp. | Common | 30231G102 |  | 222715 | 2066 | SH |  | SOLE |  | 2066 | 0 | 0 |
| Fifth Third Bancorp | Common | 316773100 |  | 103353767 | 2512856 | SH |  | SOLE |  | 2512856 | 0 | 0 |
| Full Truck Alliance Co. Ltd. | ADR | 35969L108 |  | 137420274 | 11635925 | SH |  | SOLE |  | 11635925 | 0 | 0 |
| Healthpeak Properties Inc. | Common | 42250P103 |  | 6814647 | 389186 | SH |  | SOLE |  | 210520 | 0 | 178666 |
| Hudson Pacific Properties Inc. | Common | 444097109 |  | 6290966 | 2295973 | SH |  | SOLE |  | 1297080 | 0 | 998893 |
| Humana Inc. | Common | 444859102 |  | 404060408 | 1652734 | SH |  | SOLE |  | 1598031 | 0 | 54703 |
| IAC Inc. | Common | 44891N208 |  | 85164138 | 2280775 | SH |  | SOLE |  | 2192636 | 0 | 88139 |
| iShares S 500 Value Index Fund | ETF | 464287408 |  | 2145321 | 10978 | SH |  | SOLE |  | 10477 | 0 | 501 |
| JD.com Inc. Class A ADR | ADR | 47215P106 |  | 11211416 | 343487 | SH |  | SOLE |  | 343487 | 0 | 0 |
| Johnson Controls International plc | Common | G51502105 |  | 25911015 | 245323 | SH |  | SOLE |  | 221667 | 0 | 23656 |
| JPMorgan Chase  Co. | Common | 46625H100 |  | 184394966 | 636042 | SH |  | SOLE |  | 632836 | 0 | 3206 |
| KE Holdings Inc. Class A ADR | ADR | 482497104 |  | 32868885 | 1852812 | SH |  | SOLE |  | 1852812 | 0 | 0 |
| Lam Research Corp. | Common | 512807306 |  | 1195335 | 12280 | SH |  | SOLE |  | 12280 | 0 | 0 |
| Loews Corp. | Common | 540424108 |  | 54752459 | 597343 | SH |  | SOLE |  | 597343 | 0 | 0 |
| M  T Bank Corp | Common | 55261F104 |  | 9883403 | 50948 | SH |  | SOLE |  | 50948 | 0 | 0 |
| Markel Group Inc | Common | 570535104 |  | 741282215 | 371131 | SH |  | SOLE |  | 359866 | 0 | 11265 |
| Meta Platforms Inc. Class A | Common | 30303M102 |  | 1555756802 | 2107814 | SH |  | SOLE |  | 2053750 | 0 | 54064 |
| MGM Resorts International | Common | 552953101 |  | 819207939 | 23821109 | SH |  | SOLE |  | 23134026 | 0 | 687083 |
| Microsoft Corp. | Common | 594918104 |  | 123335794 | 247956 | SH |  | SOLE |  | 229483 | 0 | 18473 |
| Mid-America Apartment Communities Inc. | Common | 59522J103 |  | 7851931 | 53050 | SH |  | SOLE |  | 29030 | 0 | 24020 |
| NetEase Inc. - ADR | ADR | 64110W102 |  | 79852639 | 593347 | SH |  | SOLE |  | 593347 | 0 | 0 |
| NetSTREIT Corp. | Common | 64119V303 |  | 3733234 | 220510 | SH |  | SOLE |  | 122840 | 0 | 97670 |
| Noah Holdings Ltd. Class A ADS | ADR | 65487X102 |  | 12197725 | 1021585 | SH |  | SOLE |  | 1021585 | 0 | 0 |
| NVIDIA Corp. | Common | 67066G104 |  | 14082438 | 89135 | SH |  | SOLE |  | 78647 | 0 | 10488 |
| Oracle Corporation | Common | 68389X105 |  | 28766024 | 131574 | SH |  | SOLE |  | 116667 | 0 | 14907 |
| Owens Corning | Common | 690742101 |  | 243285670 | 1769093 | SH |  | SOLE |  | 1686166 | 0 | 82927 |
| PNC Financial Services Group Inc. | Common | 693475105 |  | 93649392 | 502357 | SH |  | SOLE |  | 502357 | 0 | 0 |
| Prologis Inc. | Common | 74340W103 |  | 13584237 | 129226 | SH |  | SOLE |  | 74469 | 0 | 54757 |
| Public Storage Inc. | Common | 74460D109 |  | 11854168 | 40400 | SH |  | SOLE |  | 21460 | 0 | 18940 |
| Quest Diagnostics Inc. | Common | 74834L100 |  | 243294465 | 1354420 | SH |  | SOLE |  | 1272888 | 0 | 81532 |
| Realty Income Corp. | Common | 756109104 |  | 2815401 | 48870 | SH |  | SOLE |  | 0 | 0 | 48870 |
| Regency Centers Corporation | Common | 758849103 |  | 8677951 | 121830 | SH |  | SOLE |  | 66210 | 0 | 55620 |
| RenaissanceRe Holdings Ltd | Common | G7496G103 |  | 34750974 | 143067 | SH |  | SOLE |  | 143067 | 0 | 0 |
| Restaurant Brands International Inc. | Common | 76131D103 |  | 226692908 | 3419715 | SH |  | SOLE |  | 3348158 | 0 | 71557 |
| Rexford Industrial Realty Inc. | Common | 76169C100 |  | 13339106 | 375010 | SH |  | SOLE |  | 203460 | 0 | 171550 |
| RH | Common | 74967X103 |  | 423382 | 2240 | SH |  | SOLE |  | 2240 | 0 | 0 |
| Rocket Companies Inc. Class A | Common | 77311W101 |  | 44421374 | 3132678 | SH |  | SOLE |  | 3132678 | 0 | 0 |
| SAP SE - ADR | ADR | 803054204 |  | 14222453 | 46769 | SH |  | SOLE |  | 41864 | 0 | 4905 |
| Sea Ltd. Class A ADR | ADR | 81141R100 |  | 71701902 | 448305 | SH |  | SOLE |  | 448305 | 0 | 0 |
| Simon Property Group Inc. | Common | 828806109 |  | 9440309 | 58723 | SH |  | SOLE |  | 34603 | 0 | 24120 |
| Solventum Corp. | Common | 83444M101 |  | 416563410 | 5492661 | SH |  | SOLE |  | 5301291 | 0 | 191370 |
| State Street Corp. | Common | 857477103 |  | 7683171 | 72251 | SH |  | SOLE |  | 72251 | 0 | 0 |
| Sun Communities Inc. | Common | 866674104 |  | 4853421 | 38370 | SH |  | SOLE |  | 21500 | 0 | 16870 |
| Sunstone Hotel Investors Inc. | Common | 867892101 |  | 10029566 | 1155480 | SH |  | SOLE |  | 686260 | 0 | 469220 |
| Taiwan Semiconductor Manufacturing | Common | 874039100 |  | 1630728 | 7200 | SH |  | SOLE |  | 7200 | 0 | 0 |
| Teck Resources Ltd. Class B | Common | 878742204 |  | 445593017 | 11034993 | SH |  | SOLE |  | 10646755 | 0 | 388238 |
| Terreno Realty Corp. | Common | 88146M101 |  | 5842326 | 104197 | SH |  | SOLE |  | 53414 | 0 | 50783 |
| Texas Instruments Inc. | Common | 882508104 |  | 494178489 | 2380207 | SH |  | SOLE |  | 2286354 | 0 | 93853 |
| Trip.com Group Ltd. ADR | ADR | 89677Q107 |  | 290236804 | 4949468 | SH |  | SOLE |  | 4949468 | 0 | 0 |
| Truist Financial Corp. | Common | 89832Q109 |  | 6699777 | 155845 | SH |  | SOLE |  | 155845 | 0 | 0 |
| Tyson Foods Inc | Common | 902494103 |  | 501024708 | 8956466 | SH |  | SOLE |  | 8672141 | 0 | 284325 |
| U.S. Bancorp | Common | 902973304 |  | 874756569 | 19331637 | SH |  | SOLE |  | 18756313 | 0 | 575324 |
| UDR Inc. | Common | 902653104 |  | 6614052 | 161990 | SH |  | SOLE |  | 85890 | 0 | 76100 |
| UnitedHealth Group Inc. | Common | 91324P102 |  | 353426134 | 1132885 | SH |  | SOLE |  | 1100654 | 0 | 32231 |
| Vale S.A. ADR | ADR | 91912E105 |  | 28630071 | 2948514 | SH |  | SOLE |  | 2948514 | 0 | 0 |
| Ventas Inc. | Common | 92276F100 |  | 12841553 | 203350 | SH |  | SOLE |  | 120990 | 0 | 82360 |
| Viatris Inc. | Common | 92556V106 |  | 592733394 | 66375520 | SH |  | SOLE |  | 63774660 | 0 | 2600860 |
| VICI Properties Inc. | Common | 925652109 |  | 5533524 | 169740 | SH |  | SOLE |  | 88590 | 0 | 81150 |
| Wells Fargo  Co. | Common | 949746101 |  | 655095014 | 8176423 | SH |  | SOLE |  | 7987636 | 0 | 188787 |
| Wesco International Inc. | Common | 95082P105 |  | 53846159 | 290746 | SH |  | SOLE |  | 254929 | 0 | 35817 |

---