Davis Selected Advisers: Major Energy Buys and Sector Shifts in Q2 2026 Portfolio Activity
Davis Selected Advisers significantly increased their position in Devon Energy (DVN) while trimming holdings across various sectors, reflecting notable buying and selling patterns during the second quarter.
As of June 30th, 2026, Davis Selected Advisers' portfolio shows active changes compared to the previous period. The firm's total assets under management have fluctuated due to a combination of stock purchases and sales observed in their holdings.
The most prominent change involves a substantial increase in shares held for Devon Energy Corp (DVN). According to the filing, Davis Selected Advisers added 25,297,991 shares during this quarter, representing an unprecedented +100.0% change from prior period holdings and contributing significantly to their current allocation.
Other notable purchases include JBS N.V., Class A (N4732M103) with a 90.58% increase in shares (+23,771,576), and LyondellBasell Industries N.V. (LYB) which saw its share count rise by +3,102,264 or +55.43%. These additions signal a strategic shift towards energy and industrial sectors.
Conversely, the data indicates significant reductions in several existing positions. Viatris Inc (VTRS) experienced an 87% decrease in its share count (-2,978,937 shares), while U.S. Bancorp (USB) saw a reduction of -784,450 shares or -3.53%. Similarly, MGM Resorts International (MGM) and CVS Health Corporation (CVS) also reported substantial decreases in their holdings.
Furthermore, Davis Selected Advisers appears to have initiated new positions with stocks like Trip.com Group Ltd., ADR (TCOM), Full Truck Alliance Co. Ltd., ADR (YMM), and Restaurant Brands International (QSR). These additions, coupled with the significant increases elsewhere, suggest a dynamic portfolio strategy focused on specific growth areas.
On the selling side, although not explicitly detailed in this report's changed_holdings section, indicators like the +91.44% reduction in Applied Materials Inc (AMAT) shares (-1,094,581 shares) and other significant sell symbols mentioned elsewhere might have occurred during the quarter, contributing to overall portfolio turnover.
Overall, Davis Selected Advisers' Q2 2026 activity highlights a clear preference for certain sectors. The firm has significantly bolstered its Energy exposure through Devon Energy, while simultaneously reducing allocations in Financial Services (U.S. Bancorp and Capital One), Healthcare (CVS and Viatris), and Communication Services (Alphabet Inc., Class A). Further details on specific sales can be found by reviewing the investor's full filing.