UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F COVER PAGE
OMB APPROVAL
OMB Number:3235-0006
Expires:July 31, 2015
Estimated average burden
hours per response:23.8
Report for the Calendar Year or Quarter Ended:
12-31-2025
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
Address:
2949 E. Elvira Road
Tucson, AZ 85756
Form 13F File Number:
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
Title:
Chief Compliance Officer
Phone:
520-434-3731


Signature, Place, and Date of Signing:

Michaela McLoughry
                         [Signature]
Tucson, ARIZONA
                 [City, State]
02-02-2026
                           [Date]
                          

Report Type (Check only one.):

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

☐ 13F NOTICE. (Check here if no holdings reported are 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:
108
Form 13F Information table Value Total:
22249323816
          (thousands)

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


UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE
OMB APPROVAL
OMB Number:3235-0006
Expires:July 31, 2015
Estimated average burden
hours per response:23.8
COLUMN 1COLUMN 2COLUMN 3COLUMN 4COLUMN 5COLUMN 6COLUMN 7COLUMN 8
VALUESHRS ORSH/PUT/INVESTMENTOTHERVOTING AUTHORITY
NAME OF ISSUERTITLE OF CLASSCUSIP(x$1000)PRN AMTPRNCALLDISCRETIONMANAGERSOLESHAREDNONE
AGCO CorporationCommon Stock001084102213,736,2102,048,835SHSOLE1,737,767 0 311,068
Alexandria Real Estate Equities, Inc.Common Stock0152711098,717,535178,127SHSOLE85,903 0 92,224
Alphabet Inc., Class ACommon Stock02079K305976,174,7983,118,760SHSOLE2,629,256 0 489,504
Alphabet Inc., Class CCommon Stock02079K107223,101,674710,963SHSOLE635,835 0 75,128
Amazon.com, Inc.Common Stock023135106791,545,2233,429,262SHSOLE2,939,340 0 489,922
American Express Co.Common Stock02581610989,416,822241,700SHSOLE240,139 0 1,561
American Homes 4 Rent - Class ACommon Stock02665T3068,943,381278,610SHSOLE142,530 0 136,080
American Tower CorpCommon Stock03027X10011,231,21363,970SHSOLE37,580 0 26,390
ANGI Inc., Class ACommon Stock00183L20112,270,479948,993SHSOLE948,993 0 0
Applied Materials, Inc.Common Stock0382221051,079,695,8474,201,298SHSOLE3,578,966 0 622,332
AppLovin Corp., Class ACommon Stock03831W108167,098,339247,981SHSOLE214,456 0 33,525
AvalonBay Communities, Inc.Common Stock05348410114,294,48078,840SHSOLE38,860 0 39,980
Bank of America Corp.Common Stock06050510463,243,0151,149,873SHSOLE1,149,873 0 0
Bank of N.T. Butterfield & Son LimitedCommon StockG0772R20852,495,8321,053,710SHSOLE1,053,710 0 0
Bank of New York Mellon Corp.Common Stock06405810060,566,667521,722SHSOLE512,845 0 8,877
Berkshire Hathaway Inc., Class ACommon Stock084670108711,776,400943SHSOLE943 0 0
Berkshire Hathaway Inc., Class BCommon Stock084670702371,908,140739,875SHSOLE483,109 0 256,766
Brixmor Property Group, Inc.Common Stock11120U10514,577,533555,970SHSOLE292,210 0 263,760
BXP, Inc.Common Stock10112110115,784,247233,910SHSOLE117,810 0 116,100
Camden Property TrustCommon Stock1331311029,569,25486,930SHSOLE46,740 0 40,190
Capital One Financial Corp.Common Stock14040H1052,087,878,3448,614,766SHSOLE7,784,533 0 830,233
Charles Schwab Corp.Common Stock80851310530,142,347301,695SHSOLE301,695 0 0
Chime Financial, Inc.Common Stock16935C10962,222,9082,472,106SHSOLE2,472,106 0 0
Chubb Ltd.Common StockH1467J104370,380,4111,186,647SHSOLE1,052,386 0 134,261
Cigna GroupCommon Stock125523100207,212,398752,852SHSOLE629,901 0 122,951
Community Healthcare Trust, Inc.Common Stock20369C1065,345,695325,560SHSOLE165,710 0 159,850
ConocoPhillipsCommon Stock20825C104168,301,3921,797,887SHSOLE1,525,334 0 272,553
COPT Defense PropertiesCommon Stock22002T1088,193,772294,740SHSOLE141,800 0 152,940
Coterra Energy, Inc.Common Stock127097103856,387,28332,537,508SHSOLE28,340,914 0 4,196,594
Cousins Properties, Inc.Common Stock22279550212,880,075499,615SHSOLE250,080 0 249,535
Crown Castle, Inc.Common Stock22822V1013,746,75942,160SHSOLE23,520 0 18,640
Crown Holdings, Inc.Common Stock228368106882,4538,570SHSOLE8,570 0 0
CubeSmartCommon Stock2296631093,278,02790,930SHSOLE44,520 0 46,410
CVS Health CorporationCommon Stock1266501001,012,674,95012,760,511SHSOLE11,029,522 0 1,730,989
Darling Ingredients Inc.Common Stock237266101102,323,5262,842,306SHSOLE2,303,045 0 539,261
Davis Select Financial ETFETF23908L108102,960,3422,130,361SHSOLE2,130,361 0 0
Davis Select International ETFETF23908L405110,934,8453,892,451SHSOLE3,892,451 0 0
Davis Select U.S. Equity ETFETF23908L207173,052,8583,384,566SHSOLE3,384,566 0 0
Davis Select Worldwide ETFETF23908L30689,430,3141,917,460SHSOLE1,917,460 0 0
Digital Realty Trust, Inc.Common Stock25386810312,260,76879,250SHSOLE37,000 0 42,250
Douglas Emmett, IncCommon Stock25960P1093,404,812309,810SHSOLE155,310 0 154,500
Eastgroup Properties, Inc.Common Stock2772761019,197,36851,630SHSOLE25,680 0 25,950
Equinix, Inc.Common Stock29444U70015,915,44220,773SHSOLE8,683 0 12,090
Equity ResidentialCommon Stock29476L1076,588,626104,515SHSOLE57,010 0 47,505
Essex Property Trust, Inc.Common Stock2971781054,320,59816,511SHSOLE8,030 0 8,481
Everest Group, Ltd.Common StockG3223R10840,049,069118,017SHSOLE118,017 0 0
Extra Space Storage, Inc.Common Stock30225T1023,640,30027,955SHSOLE18,510 0 9,445
Fifth Third BancorpCommon Stock316773100128,461,1512,744,310SHSOLE2,744,310 0 0
Fiserv, Inc.Common Stock33773810838,218,521568,982SHSOLE568,982 0 0
Full Truck Alliance Co. Ltd., ADRADR35969L108188,177,63317,537,524SHSOLE17,024,112 0 513,412
Healthpeak Properties, Inc.Common Stock42250P1037,009,851435,936SHSOLE213,560 0 222,376
Hudson Pacific Properties, Inc.Common Stock4440974063,509,202324,026SHSOLE182,483 0 141,543
IAC Inc.Common Stock44891N20898,300,7872,514,072SHSOLE2,125,522 0 388,550
iShares S&P 500 Value Index FundETF46428740826,944,130127,053SHSOLE95,778 0 31,275
JBS N.V., Class ACommon StockN4732M103170,945,36211,854,741SHSOLE11,650,659 0 204,082
JD.com Inc., Class A, ADRADR47215P1069,448,643329,221SHSOLE329,221 0 0
Johnson Controls International plcCommon StockG5150210525,143,113209,960SHSOLE153,588 0 56,372
JPMorgan Chase & Co.Common Stock46625H100184,176,369571,586SHSOLE569,249 0 2,337
KE Holdings Inc., Class A, ADRADR48249710429,184,4311,851,804SHSOLE1,851,804 0 0
Lam Research Corp.Common Stock5128073062,102,09012,280SHSOLE12,280 0 0
Loews Corp.Common Stock54042410863,190,844600,046SHSOLE600,046 0 0
M & T Bank CorpCommon Stock55261F10411,251,85255,846SHSOLE55,846 0 0
Markel Group, IncCommon Stock570535104892,495,821415,160SHSOLE365,156 0 50,004
Meta Platforms, Inc., Class ACommon Stock30303M1021,157,130,8541,752,974SHSOLE1,576,898 0 176,076
MGM Resorts InternationalCommon Stock552953101978,669,32326,820,202SHSOLE23,348,499 0 3,471,703
Microsoft Corp.Common Stock59491810429,405,63460,801SHSOLE47,814 0 12,987
Mid-America Apartment Communities, Inc.Common Stock59522J1038,248,47659,380SHSOLE29,480 0 29,900
NetEase Inc. - ADRADR64110W10258,649,113426,164SHSOLE413,058 0 13,106
NetSTREIT Corp.Common Stock64119V3033,344,544189,600SHSOLE92,580 0 97,020
Noah Holdings Ltd., Class A, ADSADR65487X10210,256,7131,021,585SHSOLE1,021,585 0 0
NVIDIA Corp.Common Stock67066G10420,709,251111,038SHSOLE79,518 0 31,520
Oracle CorporationCommon Stock68389X10515,479,54779,416SHSOLE56,639 0 22,777
Owens CorningCommon Stock690742101229,034,8002,046,583SHSOLE1,699,620 0 346,963
Pinterest, Inc., Class ACommon Stock72352L106305,553,58111,801,983SHSOLE10,815,679 0 986,304
PNC Financial Services Group, Inc.Common Stock693475105110,645,477530,089SHSOLE530,089 0 0
Prologis, Inc.Common Stock74340W10322,994,885180,126SHSOLE75,219 0 104,907
Public Storage, Inc.Common Stock74460D10911,293,44043,520SHSOLE19,960 0 23,560
Quest Diagnostics Inc.Common Stock74834L100275,895,4981,589,883SHSOLE1,272,758 0 317,125
Realty Income Corp.Common Stock7561091045,151,65491,390SHSOLE 0 0 91,390
Regency Centers CorporationCommon Stock7588491039,432,950136,650SHSOLE67,420 0 69,230
RenaissanceRe Holdings LtdCommon StockG7496G10364,593,417229,739SHSOLE229,739 0 0
Restaurant Brands International, Inc.Common Stock76131D103274,339,5924,020,791SHSOLE3,622,680 0 398,111
Rexford Industrial Realty, Inc.Common Stock76169C10013,351,818344,830SHSOLE176,390 0 168,440
Rocket Companies, Inc., Class ACommon Stock77311W10162,492,3383,227,910SHSOLE3,227,910 0 0
SAP SE - ADRADR80305420413,688,12456,347SHSOLE41,850 0 14,497
Sea Ltd., Class A, ADRADR81141R10055,689,027436,534SHSOLE428,967 0 7,567
Simon Property Group, Inc.Common Stock82880610912,251,13566,183SHSOLE30,803 0 35,380
Solventum Corp.Common Stock83444M101492,879,7056,220,072SHSOLE5,343,093 0 876,979
State Street Corp.Common Stock85747710318,548,155143,773SHSOLE143,773 0 0
Sun Communities, Inc.Common Stock8666741045,308,30442,840SHSOLE21,860 0 20,980
Sunstone Hotel Investors, Inc.Common Stock86789210111,439,7131,279,610SHSOLE695,610 0 584,000
Synopsys, Inc.Common Stock8716071074,065,4278,655SHSOLE8,655 0 0
Taiwan Semiconductor Manufacturing, ADRADR8740391002,188,0087,200SHSOLE7,200 0 0
Teck Resources Ltd., Class BCommon Stock878742204575,619,50812,019,609SHSOLE10,296,219 0 1,723,390
Terreno Realty Corp.Common Stock88146M1016,924,081117,937SHSOLE54,724 0 63,213
Texas Instruments, Inc.Common Stock882508104495,008,8312,853,227SHSOLE2,448,433 0 404,794
Trip.com Group Ltd., ADRADR89677Q107363,389,3535,053,389SHSOLE4,955,589 0 97,800
Truist Financial Corp.Common Stock89832Q1099,450,928192,053SHSOLE192,053 0 0
Tyson Foods IncCommon Stock902494103751,950,99412,827,540SHSOLE11,293,026 0 1,534,514
U.S. BancorpCommon Stock9029733041,176,148,49722,041,759SHSOLE19,186,968 0 2,854,791
UDR, Inc.Common Stock9026531044,155,110113,280SHSOLE53,720 0 59,560
UnitedHealth Group Inc.Common Stock91324P102420,368,7511,273,400SHSOLE1,113,080 0 160,320
Vale S.A., ADRADR91912E10538,193,5102,931,198SHSOLE2,931,198 0 0
Ventas, Inc.Common Stock92276F1008,853,046114,410SHSOLE54,290 0 60,120
Viatris Inc.Common Stock92556V106973,315,91378,177,984SHSOLE67,210,658 0 10,967,326
VICI Properties, Inc.Common Stock9256521096,080,669216,240SHSOLE90,200 0 126,040
Wells Fargo & Co.Common Stock949746101769,649,1828,258,031SHSOLE7,233,584 0 1,024,447
Wesco International, Inc.Common Stock95082P10589,172,369364,502SHSOLE256,570 0 107,932