Davis Asset Management, L.P. Long-Term Concentrated

CIK: 0001945894 · Show all filings

Period: Q3 2025 (← Previous) (Next →)

Filing Date: Nov 14, 2025

Total Value ($000): $2,809,181 (100.0% shares, 0.0% debt)

Holdings (31)

META Meta Platforms Inc 13.1%

Value ($000) $367,190 Shares 500,000 Est. Cost $160.96 Unrealized +361.8%

GOOG Alphabet Inc 8.7%

Value ($000) $243,550 Shares 1,000,000 Est. Cost $110.83 Unrealized +89.4%

WAL Western Alliance Bancorp 7.7%

Value ($000) $216,800 Shares 2,500,000 Est. Cost $69.27 Unrealized +20.9%

STT State Str Corp 5.0%

Value ($000) $139,212 Shares 1,200,000 Est. Cost $60.70 Unrealized +81.3%

CB Chubb Limited 4.5%

Value ($000) $127,013 Shares 450,000 Est. Cost $181.71 Unrealized +51.5%

AX AXOS Financial Inc 4.4%

Value ($000) $123,354 Shares 1,457,219 Est. Cost $40.41 Unrealized +115.7%

WBS Webster Finl Corp 4.2%

Value ($000) $118,880 Shares 2,000,000 Est. Cost $46.15 Unrealized +29.1%

GPN Global Pmts Inc. 4.1%

Value ($000) $116,312 Shares 1,400,000 Est. Cost $116.43 Unrealized -28.1%

CRBG Corebridge Finl Inc 4.0%

Value ($000) $112,175 Shares 3,500,000 Est. Cost $21.56 Unrealized +56.3%

V Visa Inc 3.6%

Value ($000) $102,414 Shares 300,000 Est. Cost $198.34 Unrealized +74.0%

MKL Markel Group Inc 3.4%

Value ($000) $95,568 Shares 50,000 Est. Cost $1367.86 Unrealized +43.3%

BRK/A Berkshire Hathaway Inc Del 3.2%

Value ($000) $90,504 Shares 120 Est. Cost $428128.38 Unrealized +69.8%

BRK/B Berkshire Hathaway Inc Del 3.2%

Value ($000) $90,493 Shares 180,000 Est. Cost $284.56 Unrealized +70.2%

BABA Alibaba Group Hdlg Ltd 3.2%

Value ($000) $89,365 Shares 500,000 Est. Cost $113.68 Unrealized —

FAF First Amern Finl Corp 2.5%

Value ($000) $70,664 Shares 1,100,000 Est. Cost $60.99 Unrealized +1.8%

MTB M & T Bk Corp 2.3%

Value ($000) $64,227 Shares 325,000 Est. Cost $123.93 Unrealized +56.3%

CG Carlyle Group Inc. 2.2%

Value ($000) $62,700 Shares 1,000,000 Est. Cost $29.10 Unrealized +111.3%

ACN Accenture PLC Ireland 2.2%

Value ($000) $61,650 Shares 250,000 Est. Cost $260.61 Unrealized 0.0%

SFBS Servisfirst Bancshares Inc 2.2%

Value ($000) $61,490 Shares 763,562 Est. Cost $79.18 Unrealized +3.6%

EQR Equity Residential 1.8%

Value ($000) $51,784 Shares 800,000 Est. Cost $52.84 Unrealized +21.2%

ACGL Arch Cap Group LTD 1.8%

Value ($000) $49,902 Shares 550,000 Est. Cost $71.30 Unrealized +25.8%

FSBC Five Star Bancorp 1.7%

Value ($000) $48,670 Shares 1,511,500 Est. Cost $23.28 Unrealized +33.0%

MA Mastercard Incorporated 1.7%

Value ($000) $48,349 Shares 85,000 Est. Cost $325.17 Unrealized +76.4%

RJF Raymond James Finl Inc 1.7%

Value ($000) $46,602 Shares 270,000 Est. Cost $96.20 Unrealized +71.2%

TCBK TriCo Bancshares 1.7%

Value ($000) $46,493 Shares 1,046,900 Est. Cost $46.74 Unrealized -7.0%

ABCB Ameris Bancorp 1.6%

Value ($000) $45,584 Shares 621,800 Est. Cost $51.82 Unrealized +35.1%

FBK FB Finl Corp 1.2%

Value ($000) $34,516 Shares 619,236 Est. Cost $50.36 Unrealized 0.0%

USB US Bancorp Del 1.0%

Value ($000) $28,998 Shares 600,000 Est. Cost $39.22 Unrealized +18.2%

OSBC Old Second Bancorp Inc Ill 0.9%

Value ($000) $25,928 Shares 1,500,000 Est. Cost $15.19 Unrealized +17.6%

CCNE CNB Finl Corp PA 0.8%

Value ($000) $22,990 Shares 950,000 Est. Cost $20.90 Unrealized +16.7%

TSBK Timberland Bancorp Inc 0.2%

Value ($000) $5,807 Shares 174,476 Est. Cost $23.23 Unrealized +40.0%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
META	Meta Platforms Inc	500,000	$367,190	13.1%	$160.96	+361.8%	Cl A	30303M102
GOOG	Alphabet Inc	1,000,000	$243,550	8.7%	$110.83	+89.4%	CAP STK CL C	02079K107
WAL	Western Alliance Bancorp	2,500,000	$216,800	7.7%	$69.27	+20.9%	COM	957638109
STT	State Str Corp	1,200,000	$139,212	5.0%	$60.70	+81.3%	COM	857477103
CB	Chubb Limited	450,000	$127,013	4.5%	$181.71	+51.5%	COM	H1467J104
AX	AXOS Financial Inc	1,457,219	$123,354	4.4%	$40.41	+115.7%	COM	05465C100
WBS	Webster Finl Corp	2,000,000	$118,880	4.2%	$46.15	+29.1%	COM	947890109
GPN	Global Pmts Inc.	1,400,000	$116,312	4.1%	$116.43	-28.1%	COM	37940X102
CRBG	Corebridge Finl Inc	3,500,000	$112,175	4.0%	$21.56	+56.3%	COM	21871X109
V	Visa Inc	300,000	$102,414	3.6%	$198.34	+74.0%	COM CL A	92826C839
MKL	Markel Group Inc	50,000	$95,568	3.4%	$1367.86	+43.3%	COM	570535104
BRK/A	Berkshire Hathaway Inc Del	120	$90,504	3.2%	$428128.38	+69.8%	CL A	084670108
BRK/B	Berkshire Hathaway Inc Del	180,000	$90,493	3.2%	$284.56	+70.2%	CL B NEW	084670702
BABA	Alibaba Group Hdlg Ltd	500,000	$89,365	3.2%	$113.68	—	Sponsored ADS	01609W102
FAF	First Amern Finl Corp	1,100,000	$70,664	2.5%	$60.99	+1.8%	COM	31847R102
MTB	M & T Bk Corp	325,000	$64,227	2.3%	$123.93	+56.3%	COM	55261F104
CG	Carlyle Group Inc.	1,000,000	$62,700	2.2%	$29.10	+111.3%	COM	14316J108
ACN	Accenture PLC Ireland	250,000	$61,650	2.2%	$260.61	0.0%	SHS CLASS A	G1151C101
SFBS	Servisfirst Bancshares Inc	763,562	$61,490	2.2%	$79.18	+3.6%	COM	81768T108
EQR	Equity Residential	800,000	$51,784	1.8%	$52.84	+21.2%	SH BEN INT	29476L107
ACGL	Arch Cap Group LTD	550,000	$49,902	1.8%	$71.30	+25.8%	ORD	G0450A105
FSBC	Five Star Bancorp	1,511,500	$48,670	1.7%	$23.28	+33.0%	COM	33830T103
MA	Mastercard Incorporated	85,000	$48,349	1.7%	$325.17	+76.4%	COM	57636Q104
RJF	Raymond James Finl Inc	270,000	$46,602	1.7%	$96.20	+71.2%	COM	754730109
TCBK	TriCo Bancshares	1,046,900	$46,493	1.7%	$46.74	-7.0%	COM	896095106
ABCB	Ameris Bancorp	621,800	$45,584	1.6%	$51.82	+35.1%	COM	03076K108
FBK	FB Finl Corp	619,236	$34,516	1.2%	$50.36	0.0%	COM	30257X104
USB	US Bancorp Del	600,000	$28,998	1.0%	$39.22	+18.2%	COM NEW	902973304
OSBC	Old Second Bancorp Inc Ill	1,500,000	$25,928	0.9%	$15.19	+17.6%	COM	680277100
CCNE	CNB Finl Corp PA	950,000	$22,990	0.8%	$20.90	+16.7%	COM	126128107
TSBK	Timberland Bancorp Inc	174,476	$5,807	0.2%	$23.23	+40.0%	COM	887098101