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

Location: Sausalito, CA

CIK: 0001945894 · Show all filings

Period: Q4 2025 (← Previous) (Next →)

Filing Date: Feb 13, 2026

Total Value: $2.792B (100.0% shares, 0.0% debt)

Holdings (30)

META Meta Platforms 11.8%

Value $330M Shares 500,000 Est. Cost $160.96 Unrealized +314.6%

GOOG Alphabet Inc 11.2%

Value $314M Shares 1,000,000 Est. Cost $110.83 Unrealized +158.3%

WAL Western Alliance Bancorp 7.5%

Value $210M Shares 2,500,000 Est. Cost $69.27 Unrealized +16.4%

CB Chubb Limited 5.0%

Value $140M Shares 450,000 Est. Cost $181.71 Unrealized +60.9%

WBS Webster Financial Corp 4.5%

Value $126M Shares 2,000,000 Est. Cost $46.15 Unrealized +28.7%

AX AXOS Financial Inc 4.5%

Value $126M Shares 1,457,219 Est. Cost $40.41 Unrealized +103.8%

GPN Global Payments Inc. 3.9%

Value $108M Shares 1,400,000 Est. Cost $116.43 Unrealized -31.0%

MKL Markel 3.8%

Value $107M Shares 50,000 Est. Cost $1367.86 Unrealized +48.1%

CRBG Corebridge Financial 3.8%

Value $106M Shares 3,500,000 Est. Cost $21.56 Unrealized +41.7%

V Visa Inc Com 3.8%

Value $105M Shares 300,000 Est. Cost $198.34 Unrealized +71.6%

ACN Accenture PLC Cl A 3.4%

Value $93.91M Shares 350,000 Est. Cost $258.74 Unrealized -1.8%

FAF First American Financial Corp 3.3%

Value $92.16M Shares 1,500,000 Est. Cost $61.35 Unrealized +1.6%

BRK/A Berkshire Hathaway Inc Del Cl A Frmly 3.2%

Value $90.58M Shares 120 Est. Cost $428128.38 Unrealized +74.3%

BRK/B Berkshire Hathaway Inc Del Cl B Frmly 3.2%

Value $90.48M Shares 180,000 Est. Cost $284.56 Unrealized +74.8%

MTB M&T Bank 2.9%

Value $80.59M Shares 400,000 Est. Cost $136.34 Unrealized +39.4%

BABA Alibaba 2.6%

Value $73.29M Shares 500,000 Est. Cost $113.68 Unrealized —

SFBS Servisfirst Bancshares Inc 2.3%

Value $62.84M Shares 875,376 Est. Cost $78.39 Unrealized -6.9%

CG Carlyle Group 2.1%

Value $59.11M Shares 1,000,000 Est. Cost $29.10 Unrealized +93.4%

FSBC Five Star Bancorp 1.9%

Value $54.08M Shares 1,511,500 Est. Cost $23.28 Unrealized +47.7%

ACGL Arch Capital Group LTD 1.9%

Value $52.76M Shares 550,000 Est. Cost $71.30 Unrealized +28.3%

EQR Equity Residential 1.8%

Value $50.43M Shares 800,000 Est. Cost $52.84 Unrealized +14.8%

TCBK TriCo Bancshares 1.8%

Value $49.59M Shares 1,046,900 Est. Cost $46.74 Unrealized -1.8%

MA Mastercard Inc 1.7%

Value $48.52M Shares 85,000 Est. Cost $325.17 Unrealized +71.9%

ABCB Ameris Bancorp 1.7%

Value $46.18M Shares 621,800 Est. Cost $51.82 Unrealized +43.2%

RJF Raymond James Financial Inc 1.6%

Value $43.36M Shares 270,000 Est. Cost $96.20 Unrealized +67.3%

FBK FB Financial Corp 1.2%

Value $34.55M Shares 619,236 Est. Cost $50.36 Unrealized +10.5%

OSBC Old Second Bancorp 1.2%

Value $34.04M Shares 1,745,523 Est. Cost $15.67 Unrealized +18.7%

USB US Bancorp Del Com New 1.1%

Value $32.02M Shares 600,000 Est. Cost $39.22 Unrealized +24.2%

CCNE CNB Financial Corp PA 0.9%

Value $24.86M Shares 950,000 Est. Cost $20.90 Unrealized +20.8%

TSBK Timberland Bancorp Inc 0.2%

Value $6.246M Shares 174,476 Est. Cost $23.23 Unrealized +43.7%

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
META	Meta Platforms	500,000	$330M	11.8%	$160.96	+314.6%	Cl A	30303M102
GOOG	Alphabet Inc	1,000,000	$314M	11.2%	$110.83	+158.3%	Class C	02079K107
WAL	Western Alliance Bancorp	2,500,000	$210M	7.5%	$69.27	+16.4%	COM	957638109
CB	Chubb Limited	450,000	$140M	5.0%	$181.71	+60.9%	COM	H1467J104
WBS	Webster Financial Corp	2,000,000	$126M	4.5%	$46.15	+28.7%	COM	947890109
AX	AXOS Financial Inc	1,457,219	$126M	4.5%	$40.41	+103.8%	COM	05465C100
GPN	Global Payments Inc.	1,400,000	$108M	3.9%	$116.43	-31.0%	COM	37940X102
MKL	Markel	50,000	$107M	3.8%	$1367.86	+48.1%	COM	570535104
CRBG	Corebridge Financial	3,500,000	$106M	3.8%	$21.56	+41.7%	COM	21871X109
V	Visa Inc Com	300,000	$105M	3.8%	$198.34	+71.6%	COM	92826C839
ACN	Accenture PLC Cl A	350,000	$93.91M	3.4%	$258.74	-1.8%	COM	G1151C101
FAF	First American Financial Corp	1,500,000	$92.16M	3.3%	$61.35	+1.6%	COM	31847R102
BRK/A	Berkshire Hathaway Inc Del Cl A Frmly	120	$90.58M	3.2%	$428128.38	+74.3%	CL A	084670108
BRK/B	Berkshire Hathaway Inc Del Cl B Frmly	180,000	$90.48M	3.2%	$284.56	+74.8%	CL B	084670702
MTB	M&T Bank	400,000	$80.59M	2.9%	$136.34	+39.4%	COM	55261F104
BABA	Alibaba	500,000	$73.29M	2.6%	$113.68	—	Sponsored ADS	01609W102
SFBS	Servisfirst Bancshares Inc	875,376	$62.84M	2.3%	$78.39	-6.9%	COM	81768T108
CG	Carlyle Group	1,000,000	$59.11M	2.1%	$29.10	+93.4%	COM	14316J108
FSBC	Five Star Bancorp	1,511,500	$54.08M	1.9%	$23.28	+47.7%	COM	33830T103
ACGL	Arch Capital Group LTD	550,000	$52.76M	1.9%	$71.30	+28.3%	COM	G0450A105
EQR	Equity Residential	800,000	$50.43M	1.8%	$52.84	+14.8%	SH BEN INT	29476L107
TCBK	TriCo Bancshares	1,046,900	$49.59M	1.8%	$46.74	-1.8%	COM	896095106
MA	Mastercard Inc	85,000	$48.52M	1.7%	$325.17	+71.9%	COM	57636Q104
ABCB	Ameris Bancorp	621,800	$46.18M	1.7%	$51.82	+43.2%	COM	03076K108
RJF	Raymond James Financial Inc	270,000	$43.36M	1.6%	$96.20	+67.3%	COM	754730109
FBK	FB Financial Corp	619,236	$34.55M	1.2%	$50.36	+10.5%	COM	30257X104
OSBC	Old Second Bancorp	1,745,523	$34.04M	1.2%	$15.67	+18.7%	COM	680277100
USB	US Bancorp Del Com New	600,000	$32.02M	1.1%	$39.22	+24.2%	COM	902973304
CCNE	CNB Financial Corp PA	950,000	$24.86M	0.9%	$20.90	+20.8%	COM	126128107
TSBK	Timberland Bancorp Inc	174,476	$6.246M	0.2%	$23.23	+43.7%	COM	887098101