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Livermore
Livermore
ZHEN

Davis Asset Management, L.P.

SEC CIK
0001945894
Latest filing
Aug 12, 2026

The latest 13F from Davis Asset Management, L.P. covers Q2 2026 (filed Aug 12, 2026): 85 long positions worth $3.95B. The top 10 holdings make up 58.3% of the portfolio, and the largest is Alphabet Inc. (GOOG) at 9.4%. Livermore has 17 filings on Form 13F from this institution, going back to Q3 2022.

What changed in Q2 2026

Share counts compared with Q1 2026: how many positions were new, added to, reduced or sold out, and the biggest buys and sells. Dollar amounts are estimated at the quarter-end prices implied by the filing.

Full comparison
New
3
Est. +$27.8M
Added
9
Est. +$186.4M
Reduced
4
Est. −$7.37M
Sold out
3
Est. −$3.18K

Top 5 holdings

Share of this quarter's portfolio value

  1. GOOGAlphabet Inc.
    9.4%$370.8MHistory
  2. BRK.ABerkshire Hathaway Inc
    9.2%$363.9MHistory
  3. METAMeta Platforms, Inc.
    7.4%$291.2MHistory
  4. WALWestern Alliance Bancorporation
    6.9%$274.2MHistory
  5. MKLMarkel Group Inc.
    4.6%$179.9MHistory

Biggest buys

New and added positions, by estimated amount bought

  1. MKTXMarketaxess Holdings Inc
    +$44.4MAddedHistory
  2. MKLMarkel Group Inc.
    +$41.9MAddedHistory
  3. INFQInfleqtion, Inc.
    +$27.8MNewHistory
  4. ACNAccenture plc
    +$24.9MAddedHistory
  5. WALWestern Alliance Bancorporation
    +$20.8MAddedHistory

Largest weight increases

New and added positions, by percentage points of the portfolio gained

  1. GOOGAlphabet Inc.
    +1.09 pp8.3% → 9.4%History
  2. MKTXMarketaxess Holdings Inc
    +0.92 pp0.5% → 1.4%History
  3. INFQInfleqtion, Inc.
    +0.70 pp0.0% → 0.7%History
  4. MKLMarkel Group Inc.
    +0.64 pp3.9% → 4.6%History
  5. WALWestern Alliance Bancorporation
    +0.62 pp6.3% → 6.9%History

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. STTState Street Corp
    −$6.78MReducedHistory
  2. GOOGLAlphabet Inc.
    −$268.0KReducedHistory
  3. VMRKVivmark Residential
    −$203.8KReducedHistory
  4. CRBGCorebridge Financial, Inc.
    −$114.5KReducedHistory
  5. DISWalt Disney Co
    −$1.83KSold outHistory

Largest weight decreases

Reduced and sold-out positions, by percentage points of the portfolio lost

  1. STTState Street Corp
    −0.10 pp0.4% → 0.3%History
  2. GOOGLAlphabet Inc.
    0.00 pp<0.1% → <0.1%History
  3. DISWalt Disney Co
    0.00 pp<0.1% → 0.0%History
  4. TSLATesla, Inc.
    0.00 pp<0.1% → 0.0%History
  5. CRWVCoreWeave, Inc.
    0.00 pp<0.1% → 0.0%History

Metrics

13F metrics for Q2 2026, computed only from the numbers in the filings. Definitions below.

Portfolio value
$3.95B
+$493.0M (+14.3%) vs. prior quarter
Positions
85
0 vs. prior quarter
Top 10 concentration
58.3%
Top 10 as share of value
Turnover
0.2%
Q2 2026, one quarter
Average holding period
13.0 quarters
Weighted by value

How these are calculated

  • Portfolio value: the market value of all long positions in the 13F, as reported at quarter end, excluding options.
  • Top 10 concentration: the combined value of the 10 largest positions as a share of portfolio value.
  • Turnover: the smaller of this quarter's estimated purchases and estimated sales, divided by the average of this and last quarter's portfolio value. Estimates multiply the change in shares by the quarter-end price implied by the filing (market value divided by shares); new positions use this quarter's value and sold-out positions last quarter's. Only positions reported in shares count, and it is not calculated when the previous quarter was not filed.
  • Average holding period: how many consecutive quarters each current position has been held (including this one; a quarter without the position or without a filing starts the count over), weighted by this quarter's value. Counting starts with the first 13F in Livermore (Q3 2022), so positions held before then are understated.

13F filings by quarter

16 quarters, going back to Q3 2022. Bars show each quarter's 13F portfolio value; quarters without a filing are left blank.

Peak $3.95B (Q2 2026)

Q3 2022: $1.71BQ4 2022: $1.79BQ1 2023: $1.56BQ2 2023: $1.67BQ3 2023: $1.71BQ4 2023: $2.06BQ1 2024: $2.28BQ2 2024: $2.23BQ3 2024: $2.50BQ4 2024: $2.45BQ1 2025: $2.40BQ2 2025: $2.57BQ3 2025: $2.81BQ4 2025: $2.79BQ1 2026: $3.46BQ2 2026: $3.95B
Q3 2022Q2 2026
13F filings of Davis Asset Management, L.P. by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2026Aug 12, 202685$3.95BGOOGBRK.AMETAvs. Q1 2026SEC
Q1 2026May 15, 202685$3.46BBRK.AMETAGOOGvs. Q4 2025SEC
Q4 2025Feb 13, 202630$2.79BMETAGOOGWALvs. Q3 2025SEC
Q3 2025Nov 14, 202531$2.81BMETAGOOGWALvs. Q2 2025SEC
Q2 2025Aug 13, 202531$2.57BMETAWALGOOGvs. Q1 2025SEC
Q1 2025May 12, 202531$2.40BMETAWALGOOGvs. Q4 2024SEC
Q4 2024Feb 14, 202531$2.45BMETAWALGOOGvs. Q3 2024SEC
Q3 2024Nov 12, 202433$2.50BMETAWALGOOGvs. Q2 2024SEC
Q2 2024Aug 13, 202434$2.23BMETAGOOGWALvs. Q1 2024SEC
Q1 2024May 13, 202433$2.28BMETAWALGOOGvs. Q4 2023SEC
Q4 2023Feb 15, 2024Amended33$2.06BMETAWALGOOGvs. Q3 2023SEC
Q3 2023Nov 13, 202332$1.71BMETAGOOGGPNvs. Q2 2023SEC
Q2 2023Aug 14, 202332$1.67BACGLMETAGOOGvs. Q1 2023SEC
Q1 2023May 11, 202332$1.56BACGLGPNGOOGvs. Q4 2022SEC
Q4 2022Feb 13, 202331$1.79BACGLWALSignature BK New York N Yvs. Q3 2022SEC
Q3 2022Nov 14, 202231$1.71BWALSignature BK New York N YACGL–SEC

13D and 13G filings

Companies where Davis Asset Management, L.P. reports owning 5% or more on Schedule 13D or 13G, and its latest filings.

Current stakes of 5% or more

Davis Asset Management, L.P. does not currently report owning 5% or more of any company.

Latest filings

1 filing on file made by Davis Asset Management, L.P. or listing it as a reporting person, newest first.

Schedule 13D and 13G filings by Davis Asset Management, L.P.
CompanyFiled (ET)FilerFormStakeChangeEvent dateFiling
FSBCFive Star BancorpFeb 13, 20251:21 PM ETDavis Partnership, LPand 3 others13G/A7.10%1.51M shares–Dec 31, 2024SEC