# EDGAR Filing Document

**Accession Number:** 0001036325
**File Stem:** 0001036325-23-000018
**Filing Date:** 2023-2
**Character Count:** 15612
**Document Hash:** dfa680be9c5268215552ca45cbb0fe67
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001036325-23-000018.hdr.sgml**: 20230210

**ACCESSION NUMBER**: 0001036325-23-000018

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

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230210

**DATE AS OF CHANGE**: 20230210

**EFFECTIVENESS DATE**: 20230210

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** DAVIS SELECTED ADVISERS
- **CENTRAL INDEX KEY:** 0001036325
- **IRS NUMBER:** 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:** 23611743

**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:** 12-31-2022

**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>SUITE 101<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:** Randi Jean Roessler<br>**Title:** Chief Compliance Officer<br>**Phone:** 520-434-3758

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

Randi Jean Roessler  Tucson, AZ  02-10-2023<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:** 109

**Form 13F Information Table Value Total:** $14714623391

      (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 |
| Alexandria Real Estate Equities Inc. | Common | 015271109 |  | 16396178 | 112557 | SH |  | SOLE |  | 62993 | 0 | 49564 |
| Alibaba Group Holding Ltd | ADR | 01609W102 |  | 53942263 | 612354 | SH |  | SOLE |  | 612305 | 0 | 49 |
| Alphabet Inc. Class A | Common | 02079K305 |  | 377345946 | 4276844 | SH |  | SOLE |  | 4203682 | 0 | 73162 |
| Alphabet Inc. Class C | Common | 02079K107 |  | 399988251 | 4507926 | SH |  | SOLE |  | 4399452 | 0 | 108474 |
| Amazon.com Inc. | Common | 023135106 |  | 653598624 | 7780936 | SH |  | SOLE |  | 7627515 | 0 | 153421 |
| American Express Co. | Common | 025816109 |  | 146117692 | 988952 | SH |  | SOLE |  | 974578 | 0 | 14374 |
| American Homes 4 Rent Class A | Common | 02665T306 |  | 7757433 | 257380 | SH |  | SOLE |  | 151330 | 0 | 106050 |
| American Tower Corp Class A | Common | 03027X100 |  | 14891639 | 70290 | SH |  | SOLE |  | 39330 | 0 | 30960 |
| Americold Realty Trust | Common | 03064D108 |  | 2515344 | 88850 | SH |  | SOLE |  | 48650 | 0 | 40200 |
| Applied Materials Inc. | Common | 038222105 |  | 706905228 | 7259244 | SH |  | SOLE |  | 7063940 | 0 | 195304 |
| AvalonBay Communities Inc. | Common | 053484101 |  | 13971480 | 86500 | SH |  | SOLE |  | 50620 | 0 | 35880 |
| Baidu Inc. Class A ADR | ADR | 056752108 |  | 5355272 | 46820 | SH |  | SOLE |  | 46820 | 0 | 0 |
| Bank of America Corp. | Common | 060505104 |  | 97677935 | 2949213 | SH |  | SOLE |  | 2949213 | 0 | 0 |
| Bank of N.T. Butterfield  Son Ltd. | Common | G0772R208 |  | 97500878 | 3270744 | SH |  | SOLE |  | 3270639 | 0 | 105 |
| Bank of New York Mellon Corp. | Common | 064058100 |  | 599272796 | 13165044 | SH |  | SOLE |  | 12905110 | 0 | 259934 |
| Berkshire Hathaway Inc. Class A | Common | 084670108 |  | 988511414 | 2109 | SH |  | SOLE |  | 2109 | 0 | 0 |
| Berkshire Hathaway Inc. Class B | Common | 084670702 |  | 365723700 | 1183955 | SH |  | SOLE |  | 1110650 | 0 | 73305 |
| Boston Properties Inc. | Common | 101121101 |  | 3697978 | 54720 | SH |  | SOLE |  | 31790 | 0 | 22930 |
| Brixmor Property Group Inc. | Common | 11120U105 |  | 14360538 | 633460 | SH |  | SOLE |  | 383710 | 0 | 249750 |
| Camden Property Trust | Common | 133131102 |  | 7295695 | 65210 | SH |  | SOLE |  | 41740 | 0 | 23470 |
| Capital One Financial Corp. | Common | 14040H105 |  | 1010252918 | 10867609 | SH |  | SOLE |  | 10646004 | 0 | 221605 |
| Carrier Global Corp. | Common | 14448C104 |  | 25677052 | 622474 | SH |  | SOLE |  | 575384 | 0 | 47090 |
| Charles Schwab Corp. | Common | 808513105 |  | 29054909 | 348966 | SH |  | SOLE |  | 348966 | 0 | 0 |
| Chubb Ltd. | Common | H1467J104 |  | 339352024 | 1538314 | SH |  | SOLE |  | 1511105 | 0 | 27209 |
| Cigna Corp. | Common | 125523100 |  | 609698072 | 1840098 | SH |  | SOLE |  | 1783375 | 0 | 56723 |
| Clear Secure Inc. | Common | 18467V109 |  | 18969216 | 691550 | SH |  | SOLE |  | 671169 | 0 | 20381 |
| Coupang Inc. Class A | Common | 22266T109 |  | 95299029 | 6478520 | SH |  | SOLE |  | 6478398 | 0 | 122 |
| Cousins Properties Inc. | Common | 222795502 |  | 11738227 | 464145 | SH |  | SOLE |  | 250920 | 0 | 213225 |
| Crown Castle International Corp. | Common | 22822V101 |  | 11663684 | 85990 | SH |  | SOLE |  | 48650 | 0 | 37340 |
| CubeSmart | Common | 229663109 |  | 4727363 | 117450 | SH |  | SOLE |  | 76750 | 0 | 40700 |
| CVS Health Corp. | Common | 126650100 |  | 19391907 | 208090 | SH |  | SOLE |  | 192515 | 0 | 15575 |
| Darling Ingredients Inc. | Common | 237266101 |  | 195902131 | 3129927 | SH |  | SOLE |  | 3042175 | 0 | 87752 |
| Davis Select Financial ETF | ETF | 23908L108 |  | 56308310 | 2080320 | SH |  | SOLE |  | 2080320 | 0 | 0 |
| Davis Select International ETF | ETF | 23908L405 |  | 61116384 | 3458765 | SH |  | SOLE |  | 3458765 | 0 | 0 |
| Davis Select U.S. Equity ETF | ETF | 23908L207 |  | 90452686 | 3329138 | SH |  | SOLE |  | 3329138 | 0 | 0 |
| Davis Select Worldwide ETF | ETF | 23908L306 |  | 48043885 | 1932578 | SH |  | SOLE |  | 1932578 | 0 | 0 |
| Digital Realty Trust Inc. | Common | 253868103 |  | 10986083 | 109565 | SH |  | SOLE |  | 61245 | 0 | 48320 |
| Douglas Emmett Inc. | Common | 25960P109 |  | 7586298 | 483820 | SH |  | SOLE |  | 258290 | 0 | 225530 |
| Eaton Corp. PLC | Common | G29183103 |  | 30689375 | 195536 | SH |  | SOLE |  | 181279 | 0 | 14257 |
| Equinix Inc. | Common | 29444U700 |  | 17330784 | 26458 | SH |  | SOLE |  | 15128 | 0 | 11330 |
| Equity Residential | Common | 29476L107 |  | 8247315 | 139785 | SH |  | SOLE |  | 79240 | 0 | 60545 |
| Essex Property Trust Inc. | Common | 297178105 |  | 12749319 | 60161 | SH |  | SOLE |  | 35730 | 0 | 24431 |
| Everest Re Group Ltd. | Common | G3223R108 |  | 16157363 | 48774 | SH |  | SOLE |  | 48774 | 0 | 0 |
| Extra Space Storage Inc. | Common | 30225T102 |  | 7406098 | 50320 | SH |  | SOLE |  | 29460 | 0 | 20860 |
| Federal Realty Investment Trust | Common | 313745101 |  | 5190425 | 51370 | SH |  | SOLE |  | 31060 | 0 | 20310 |
| Ferguson PLC | Common | G3421J106 |  | 30491266 | 240576 | SH |  | SOLE |  | 224071 | 0 | 16505 |
| Fifth Third Bancorp | Common | 316773100 |  | 62522342 | 1905588 | SH |  | SOLE |  | 1905588 | 0 | 0 |
| Greenlight Capital Re Ltd. Class A | Common | G4095J109 |  | 7380738 | 905612 | SH |  | SOLE |  | 905612 | 0 | 0 |
| Healthpeak Properties Inc. | Common | 42250P103 |  | 4123915 | 164496 | SH |  | SOLE |  | 95070 | 0 | 69426 |
| Highwoods Properties Inc. | Common | 431284108 |  | 4282899 | 153070 | SH |  | SOLE |  | 82000 | 0 | 71070 |
| Hollysys Automation Technologies Ltd. | Common | G45667105 |  | 90276229 | 5494597 | SH |  | SOLE |  | 5494282 | 0 | 315 |
| Host Hotels  Resorts Inc. | Common | 44107P104 |  | 6550487 | 408130 | SH |  | SOLE |  | 220670 | 0 | 187460 |
| Hudson Pacific Properties Inc. | Common | 444097109 |  | 4462888 | 458673 | SH |  | SOLE |  | 260860 | 0 | 197813 |
| Humana Inc. | Common | 444859102 |  | 22247485 | 43436 | SH |  | SOLE |  | 39975 | 0 | 3461 |
| IAC Inc. | Common | 44891N208 |  | 81579228 | 1837370 | SH |  | SOLE |  | 1797018 | 0 | 40352 |
| Innovative Industrial Properties Inc. | Common | 45781V101 |  | 4459400 | 44000 | SH |  | SOLE |  | 26150 | 0 | 17850 |
| Intel Corp. | Common | 458140100 |  | 297657370 | 11262103 | SH |  | SOLE |  | 11036646 | 0 | 225457 |
| iQIYI Inc. Class A ADR | ADR | 46267X108 |  | 22066148 | 4163424 | SH |  | SOLE |  | 4163182 | 0 | 242 |
| iShares Russell 3000 Index Fund | ETF | 464287689 |  | 746340 | 3382 | SH |  | SOLE |  | 2578 | 0 | 804 |
| iShares S 500 Value Index Fund | ETF | 464287408 |  | 9120261 | 62868 | SH |  | SOLE |  | 58653 | 0 | 4215 |
| JD.com Inc. Class A ADR | ADR | 47215P106 |  | 248657865 | 4430035 | SH |  | SOLE |  | 4429879 | 0 | 156 |
| Johnson Controls International PLC | Common | G51502105 |  | 32629312 | 509833 | SH |  | SOLE |  | 474502 | 0 | 35331 |
| JPMorgan Chase  Co. | Common | 46625H100 |  | 573167394 | 4274179 | SH |  | SOLE |  | 4181964 | 0 | 92215 |
| Lam Research Corp. | Common | 512807108 |  | 516128 | 1228 | SH |  | SOLE |  | 1228 | 0 | 0 |
| Liberty Media Corp. Series A | Common | 531229870 |  | 28742295 | 537943 | SH |  | SOLE |  | 537855 | 0 | 88 |
| Liberty Media Corp. Series C | Common | 531229854 |  | 16572630 | 277227 | SH |  | SOLE |  | 277227 | 0 | 0 |
| Liberty TripAdvisor Hldgs Inc. - A | Common | 531465102 |  | 174527 | 260644 | SH |  | SOLE |  | 260644 | 0 | 0 |
| Life Storage Inc. | Common | 53223X107 |  | 5370220 | 54520 | SH |  | SOLE |  | 34570 | 0 | 19950 |
| Loews Corp. | Common | 540424108 |  | 95681557 | 1640349 | SH |  | SOLE |  | 1620618 | 0 | 19731 |
| M Bank Corp. | Common | 55261F104 |  | 6950550 | 47915 | SH |  | SOLE |  | 47915 | 0 | 0 |
| Markel Corp. | Common | 570535104 |  | 329849431 | 250362 | SH |  | SOLE |  | 242626 | 0 | 7736 |
| Masterbrand Inc. | Common | 57638P104 |  | 16516682 | 2187640 | SH |  | SOLE |  | 2017659 | 0 | 169981 |
| Meta Platforms Inc. Class A | Common | 30303M102 |  | 786822151 | 6538326 | SH |  | SOLE |  | 6419410 | 0 | 118916 |
| Microsoft Corp. | Common | 594918104 |  | 86760161 | 361772 | SH |  | SOLE |  | 345007 | 0 | 16765 |
| NetSTREIT Corp. | Common | 64119V303 |  | 4772216 | 260350 | SH |  | SOLE |  | 149190 | 0 | 111160 |
| Noah Holdings Ltd. Class A ADS | ADR | 65487X102 |  | 12344170 | 796398 | SH |  | SOLE |  | 796355 | 0 | 43 |
| Oracle Corp. | Common | 68389X105 |  | 17672515 | 216204 | SH |  | SOLE |  | 200509 | 0 | 15695 |
| Owens Corning | Common | 690742101 |  | 307765812 | 3608040 | SH |  | SOLE |  | 3491016 | 0 | 117024 |
| PNC Financial Services Group Inc. | Common | 693475105 |  | 70207647 | 444521 | SH |  | SOLE |  | 444521 | 0 | 0 |
| Prologis Inc. | Common | 74340W103 |  | 26992748 | 239446 | SH |  | SOLE |  | 139519 | 0 | 99927 |
| Public Storage Inc. | Common | 74460D109 |  | 18248775 | 65130 | SH |  | SOLE |  | 37090 | 0 | 28040 |
| Quest Diagnostics Inc. | Common | 74834L100 |  | 287196150 | 1835823 | SH |  | SOLE |  | 1769233 | 0 | 66590 |
| Radius Global Infrastructure Inc. | Common | 750481103 |  | 2903465 | 245640 | SH |  | SOLE |  | 245640 | 0 | 0 |
| Raytheon Technologies Corp. | Common | 75513E101 |  | 14581225 | 144483 | SH |  | SOLE |  | 132815 | 0 | 11668 |
| Retail Opportunity Investments Corp. | Common | 76131N101 |  | 8494129 | 565145 | SH |  | SOLE |  | 296945 | 0 | 268200 |
| Rexford Industrial Realty Inc. | Common | 76169C100 |  | 13333799 | 244030 | SH |  | SOLE |  | 143900 | 0 | 100130 |
| RH | Common | 74967X103 |  | 307269 | 1150 | SH |  | SOLE |  | 1150 | 0 | 0 |
| Rocket Companies Inc. Class A | Common | 77311W101 |  | 26333979 | 3761997 | SH |  | SOLE |  | 3761997 | 0 | 0 |
| SAP SE ADR | ADR | 803054204 |  | 14739144 | 142835 | SH |  | SOLE |  | 133257 | 0 | 9578 |
| Simon Property Group Inc. | Common | 828806109 |  | 15305294 | 130280 | SH |  | SOLE |  | 76350 | 0 | 53930 |
| Skechers U.S.A Inc. Class A | Common | 830566105 |  | 520180 | 12400 | SH |  | SOLE |  | 12400 | 0 | 0 |
| State Street Corp. | Common | 857477103 |  | 6928242 | 89316 | SH |  | SOLE |  | 89316 | 0 | 0 |
| STORE Capital Corp. | Common | 862121100 |  | 4545146 | 141770 | SH |  | SOLE |  | 95880 | 0 | 45890 |
| Sun Communities Inc. | Common | 866674104 |  | 4720430 | 33010 | SH |  | SOLE |  | 18050 | 0 | 14960 |
| Sunstone Hotel Investors Inc. | Common | 867892101 |  | 7888163 | 816580 | SH |  | SOLE |  | 463840 | 0 | 352740 |
| Teck Resources Ltd. Class B | Common | 878742204 |  | 491985706 | 13008612 | SH |  | SOLE |  | 12685656 | 0 | 322956 |
| Terreno Realty Corp. | Common | 88146M101 |  | 12411707 | 218247 | SH |  | SOLE |  | 120364 | 0 | 97883 |
| Texas Instruments Inc. | Common | 882508104 |  | 471469986 | 2853589 | SH |  | SOLE |  | 2773906 | 0 | 79683 |
| Truist Financial Corp. | Common | 89832Q109 |  | 2981549 | 69290 | SH |  | SOLE |  | 69290 | 0 | 0 |
| UDR Inc. | Common | 902653104 |  | 9177074 | 236950 | SH |  | SOLE |  | 131250 | 0 | 105700 |
| U.S. Bancorp | Common | 902973304 |  | 689093836 | 15801280 | SH |  | SOLE |  | 15460117 | 0 | 341163 |
| UnitedHealth Group Inc. | Common | 91324P102 |  | 61594722 | 116177 | SH |  | SOLE |  | 106898 | 0 | 9279 |
| Ventas Inc. | Common | 92276F100 |  | 10917868 | 242350 | SH |  | SOLE |  | 140370 | 0 | 101980 |
| Viatris Inc. | Common | 92556V106 |  | 609051486 | 54721607 | SH |  | SOLE |  | 53534991 | 0 | 1186616 |
| VICI Properties Inc. | Common | 925652109 |  | 4876524 | 150510 | SH |  | SOLE |  | 87270 | 0 | 63240 |
| Vimeo Inc. | Common | 92719V100 |  | 3276165 | 955150 | SH |  | SOLE |  | 884963 | 0 | 70187 |
| Wells Fargo  Co. | Common | 949746101 |  | 1272264885 | 30812906 | SH |  | SOLE |  | 30281256 | 0 | 531650 |
| Welltower Inc. | Common | 95040Q104 |  | 10027839 | 152980 | SH |  | SOLE |  | 80850 | 0 | 72130 |
| Wesco International Inc. | Common | 95082P105 |  | 6498506 | 51905 | SH |  | SOLE |  | 46735 | 0 | 5170 |

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