# Davis Selected Advisers LP

> Davis Selected Advisers LP is an SEC-registered investment advisory firm in Tucson, AZ, registered since 1988, reporting over $5 billion in regulatory assets under management in its Form ADV filing dated March 19, 2026.

- CRD: 108674
- Filed as: DAVIS SELECTED ADVISERS LP
- Also doing business as: DAVIS ADVISORS
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Tucson, AZ
- Filing period: October 2026
- Form ADV filing dated: March 19, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/108674
- AdvisorCensus page: https://advisorcensus.com/firm/davis-selected-advisers-lp-tucson-az-108674

## Quick answers

**How is Davis Selected Advisers LP compensated?**
On its Form ADV (Item 5.E, October 2026), Davis Selected Advisers LP reports these compensation arrangements: a percentage of assets under its management. The amounts are in Item 5 of its Form ADV Part 2A brochure.

**Where is Davis Selected Advisers LP located?**
Davis Selected Advisers LP's principal office is in Tucson, AZ, according to its Form ADV; the April 2026 filing also lists 1 other office (Schedule D, Section 1.F).

**Is Davis Selected Advisers LP registered with the SEC or a state?**
Davis Selected Advisers LP is an SEC-registered investment advisory firm, registered since 1988. Status as filed: Approved. CRD 108674.

**How much does Davis Selected Advisers LP manage?**
Davis Selected Advisers LP reports $30,120,188,911 in regulatory assets under management in its Form ADV filing dated March 19, 2026 (85% discretionary).

**How have Davis Selected Advisers LP's assets and staff changed since 2021?**
In the Form ADV data for Davis Selected Advisers LP: Regulatory assets under management: $26,115,589,527 in the October 2021 data and $30,120,188,911 in the October 2026 data, up 15%. Total employees: 139 in October 2021 and 121 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Davis Selected Advisers LP serve?**
By number of clients on Form ADV Item 5.D: high net worth individuals (28); individuals (other than high net worth individuals) (21); investment companies (20).

**Does Davis Selected Advisers LP report any disciplinary disclosures?**
Reports 1 disclosure item on Form ADV Item 11: yes answers to 11.H(2) (pending civil proceeding). Each question covers the firm and its advisory affiliates, and one event can produce several yes answers. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/108674

**What changed in Davis Selected Advisers LP's recent Form ADV filings?**
In the April 2026 filing data: Employees performing advisory functions went from 12 to 10. Regulatory assets under management went from $25,316,698,977 to $30,120,188,911 (+19%).

## From the Form ADV filing

### Compensation (Item 5.E)
- A percentage of assets under your management

### Regulatory assets under management (Item 5.F)
- Total: $30,120,188,911
- Discretionary: $25,619,655,091
- Non-discretionary: $4,500,533,820

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | 21 | $8,883,059 |
| High net worth individuals | 28 | $150,302,824 |
| Banking or thrift institutions | Fewer than 5 | $0 |
| Investment companies | 20 | $16,377,699,804 |
| Business development companies | 0 | $0 |
| Pooled investment vehicles (other than investment companies and business development companies) | 5 | $974,862,700 |
| Pension and profit sharing plans (but not the plan participants or government pension plans) | 3 | $38,709,305 |
| Charitable organizations | 9 | $5,008,596,289 |
| State or municipal government entities (including government pension plans) | Fewer than 5 | $0 |
| Other investment advisers | 20 | $7,064,101,793 |
| Insurance companies | Fewer than 5 | $0 |
| Sovereign wealth funds and foreign official institutions | Fewer than 5 | $0 |
| Corporations or other businesses not listed above | 3 | $497,033,137 |

### Advisory services (Item 5.G)
- Portfolio management for individuals and/or small businesses
- Portfolio management for investment companies (and business development companies)
- Portfolio management for pooled investment vehicles (other than investment companies)
- Portfolio management for businesses (other than small businesses) or institutional clients

### Firm details
- Registered since: 1988 (38 years)
- Employees: 121 total, 10 performing advisory functions
- Wrap fee program participation: Yes
- States registered or notice-filed: AK, AL, AR, AZ, CA, CO, CT, DC, DE, FL, GA, HI, IA, ID, IL, IN, KS, KY, LA, MA, MD, ME, MI, MN, MO, MS, MT, NC, ND, NE, NH, NJ, NM, NV, NY, OH, OK, OR, PA, PR, RI, SC, SD, TN, TX, UT, VA, VI, VT, WA, WI, WV, WY
- Disclosures (Item 11): Reports 1 disclosure item on Form ADV Item 11.

### Item 11 questions answered yes
- 11.H(2): Is the firm or an advisory affiliate now the subject of a civil proceeding that could result in a yes answer to any part of 11.H(1)?

Each question covers the firm and its advisory affiliates: its current employees other than clerical staff, its officers, partners, and directors, and anyone who controls the firm or is controlled by it. One event can produce yes answers to several questions. SEC-registered advisers and exempt reporting advisers may leave out events more than ten years old, and may answer 11.A(2) and 11.B(2) for pending charges only. The detail of each yes answer is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/108674

### Other offices (Schedule D, Section 1.F), as of the April 2026 filing
- New York, NY

### Websites listed on Form ADV (Item 1.I)
- davisadvisors.com
- LinkedIn @davis-advisors
- X @davis_advisors
- YouTube @UCL0g1TfoUACHsjVvGGB4Fzw

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $26,115,589,527 | 139 | March 31, 2021 |
| October 2022 | $27,422,634,630 | 131 | March 28, 2022 |
| October 2023 | $19,885,317,307 | 123 | March 23, 2023 |
| October 2024 | $22,942,793,322 | 123 | March 20, 2024 |
| October 2025 | $25,316,698,977 | 124 | June 27, 2025 |
| October 2026 | $30,120,188,911 | 121 | March 19, 2026 |

Regulatory assets under management: $26,115,589,527 in the October 2021 data and $30,120,188,911 in the October 2026 data, up 15%.
Total employees: 139 in October 2021 and 121 in October 2026.

## Changes in the filing (last 12 months)

### April 2026
- Employees performing advisory functions went from 12 to 10.
- Regulatory assets under management went from $25,316,698,977 to $30,120,188,911 (+19%).

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Davis Selected Advisers LP (CRD 108674): Form ADV filing data as of October 2026.