Christopher Davis
Portfolio value$23.3B
Positions112
QuarterQ2 2026ended 2026-06-30
Filed08/112026
Q2 2026 versus Q1 2026: 2 bought, 18 added to, 87 reduced, 2 sold. By dollars, the largest buy was Devon Energy, $1.0B more at the quarter-end price; the largest sale Coterra Energy, Inc., $1.3B less. Net, $1.2B more sold than bought. What every tracked investor did in Q2 2026.
Every move, largest first
| Ticker | Issuer | Move | Shares Q1 2026 → Q2 2026 | Bought / sold | Of the portfolio | Weight now | Price vs model |
|---|---|---|---|---|---|---|---|
| CTRA | Coterra Energy, Inc. | sold | 37.1M → 0 | −$1.3B | −5.60% | — | — |
| DVN | Devon Energy Corp. | bought | — → 25.3M | +$1.0B | +4.49% | 4.5% | 32% undervalued |
| AMAT | Applied Materials, Inc. | reduced −91% | 1.2M → 102,521 | −$790.9M | −3.40% | 0.3% | 89% overvalued |
| JBS | Jbs N.v., Class A | added +91% | 26.2M → 50.0M | +$281.7M | +1.21% | 2.5% | — |
| AMZN | Amazon.com, Inc. | added +25% | 3.4M → 4.3M | +$202.8M | +0.87% | 4.4% | 182% overvalued |
| LYB | Lyondellbasell Industries N.v. | added +55% | 5.6M → 8.7M | +$163.3M | +0.70% | 2.0% | 77% overvalued |
| TECK | Teck Resources Ltd., Class B | reduced −21% | 10.6M → 8.4M | −$132.1M | −0.57% | 2.1% | — |
| TXN | Texas Instruments, Inc. | reduced −14% | 2.8M → 2.4M | −$122.9M | −0.53% | 3.1% | 131% overvalued |
| TCOM | Trip.com Group Ltd., ADR | added +34% | 6.6M → 8.8M | +$87.9M | +0.38% | 1.5% | — |
| QSR | Restaurant Brands International, Inc. | reduced −22% | 3.6M → 2.8M | −$57.9M | −0.25% | 0.9% | — |
| GOOGL | Alphabet Inc., Class A | reduced −5% | 3.1M → 2.9M | −$56.3M | −0.24% | 4.5% | 51% overvalued |
| COF | Capital One Financial Corp. | reduced −3% | 8.5M → 8.3M | −$53.9M | −0.23% | 7.1% | 10% overvalued |
| USB | U.s. Bancorp | reduced −4% | 22.2M → 21.5M | −$47.4M | −0.20% | 5.6% | 10% undervalued |
| VTRS | Viatris Inc. | reduced −4% | 78.2M → 75.2M | −$47.3M | −0.20% | 5.1% | 81% overvalued |
| MKL | Markel Group, INC | added +6% | 383,433 → 406,759 | +$45.6M | +0.20% | 3.4% | — |
| BRK/A | Berkshire Hathaway Inc., Class A | reduced −6% | 923 → 868 | −$41.2M | −0.18% | 2.8% | — |
| GOOG | Alphabet Inc., Class C | reduced −17% | 677,607 → 564,274 | −$40.0M | −0.17% | 0.9% | 49% overvalued |
| META | Meta Platforms, Inc., Class A | reduced −4% | 1.7M → 1.6M | −$40.0M | −0.17% | 4.0% | 10% overvalued |
| SAP | Sap Se - ADR | reduced −81% | 317,422 → 60,529 | −$39.6M | −0.17% | 0.0% | — |
| CVS | Cvs Health Corporation | reduced −3% | 12.2M → 11.9M | −$38.7M | −0.17% | 5.3% | 420% overvalued |
| JPM | Jpmorgan Chase & Co. | reduced −14% | 556,452 → 476,389 | −$26.2M | −0.11% | 0.7% | 11% overvalued |
| TSN | Tyson Foods INC | reduced −3% | 13.1M → 12.7M | −$25.0M | −0.11% | 3.1% | 18% overvalued |
| NTES | Netease Inc. - ADR | added +45% | 422,712 → 612,955 | +$24.4M | +0.10% | 0.3% | — |
| BNY | Bank Of New York Mellon Corp. | reduced −30% | 525,228 → 366,448 | −$23.0M | −0.10% | 0.2% | 57% overvalued |
| MGM | Mgm Resorts International | reduced −2% | 24.3M → 23.9M | −$18.7M | −0.08% | 4.9% | 72% undervalued |
| CB | Chubb Ltd. | reduced −4% | 1.2M → 1.1M | −$16.1M | −0.07% | 1.7% | 21% overvalued |
| SE | Sea Ltd., Class A, ADR | added +9% | 1.8M → 2.0M | +$15.5M | +0.07% | 0.8% | — |
| WFC | Wells Fargo & Co. | reduced −2% | 8.2M → 8.0M | −$15.1M | −0.06% | 2.8% | 6% undervalued |
| DGX | Quest Diagnostics Inc. | reduced −4% | 1.6M → 1.6M | −$13.2M | −0.06% | 1.4% | 10% undervalued |
| UNH | Unitedhealth Group Inc. | added +2% | 1.2M → 1.3M | +$11.3M | +0.05% | 2.3% | 19% overvalued |
| PNC | Pnc Financial Services Group, Inc. | reduced −8% | 541,922 → 496,066 | −$11.3M | −0.05% | 0.5% | 7% undervalued |
| APP | Applovin Corp., Class A | reduced −6% | 335,810 → 315,539 | −$10.5M | −0.04% | 0.7% | 1% overvalued |
| BAC | Bank Of America Corp. | reduced −14% | 1.2M → 992,776 | −$9.5M | −0.04% | 0.2% | 1% overvalued |
| YMM | Full Truck Alliance Co. Ltd., ADR | reduced −4% | 28.8M → 27.6M | −$9.1M | −0.04% | 1.0% | — |
| NVDA | Nvidia Corp. | added +36% | 113,556 → 154,727 | +$8.2M | +0.04% | 0.1% | 3% undervalued |
| AXP | American Express Co. | reduced −10% | 233,126 → 209,821 | −$7.9M | −0.03% | 0.3% | 23% overvalued |
| L | Loews Corp. | reduced −11% | 614,097 → 545,211 | −$7.8M | −0.03% | 0.3% | 70% overvalued |
| JCI | Johnson Controls International PLC | reduced −27% | 193,880 → 141,422 | −$7.7M | −0.03% | 0.1% | 175% overvalued |
| FITB | Fifth Third Bancorp | reduced −5% | 2.8M → 2.7M | −$7.3M | −0.03% | 0.6% | 88% overvalued |
| SBAC | Sba Communications Corp-cl A | bought | — → 40,700 | +$7.2M | +0.03% | 0.0% | 21% undervalued |
| RNR | Renaissancere Holdings LTD | reduced −9% | 257,190 → 234,528 | −$7.2M | −0.03% | 0.3% | — |
| WCC | Wesco International, Inc. | reduced −4% | 381,007 → 363,915 | −$5.9M | −0.03% | 0.5% | — |
| BRK/B | Berkshire Hathaway Inc., Class B | reduced −2% | 749,846 → 738,433 | −$5.7M | −0.02% | 1.6% | 21% overvalued |
| RKT | Rocket Companies, Inc., Class A | reduced −7% | 4.8M → 4.5M | −$5.7M | −0.02% | 0.3% | — |
| MSFT | Microsoft Corp. | added +18% | 78,489 → 92,973 | +$5.4M | +0.02% | 0.1% | 10% overvalued |
| CI | Cigna Group | added +1% | 2.2M → 2.3M | +$5.4M | +0.02% | 2.7% | 3% overvalued |
| ARE | Alexandria Real Estate Equities, Inc. | reduced −55% | 180,807 → 80,467 | −$5.3M | −0.02% | 0.0% | 59% undervalued |
| EG | Everest Group, Ltd. | reduced −10% | 140,908 → 126,423 | −$5.2M | −0.02% | 0.2% | 7% undervalued |
| ADBE | Adobe Inc. | added +50% | 45,139 → 67,894 | +$4.7M | +0.02% | 0.1% | 28% undervalued |
| CHYM | Chime Financial, Inc. | reduced −8% | 2.5M → 2.3M | −$4.2M | −0.02% | 0.2% | — |
| AVB | Avalonbay Communities, Inc. | reduced −25% | 79,970 → 59,890 | −$3.8M | −0.02% | 0.0% | — |
| PINS | Pinterest, Inc., Class A | added +1% | 12.4M → 12.6M | +$3.7M | +0.02% | 1.1% | — |
| MAA | Mid-america Apartment Communities, Inc. | reduced −54% | 48,020 → 21,900 | −$3.6M | −0.02% | 0.0% | 13% undervalued |
| NTB | Bank Of N.t. Butterfield & Son Limited | reduced −6% | 1.1M → 1.0M | −$3.6M | −0.02% | 0.3% | — |
| ESS | Essex Property Trust, Inc. | added +70% | 16,761 → 28,501 | +$3.4M | +0.01% | 0.0% | 3% overvalued |
| CCI | Crown Castle, Inc. | sold | 41,920 → 0 | −$3.4M | −0.01% | — | — |
| AGCO | Agco Corporation | reduced −1% | 2.1M → 2.1M | −$3.4M | −0.01% | 1.1% | — |
| OC | Owens Corning | reduced −1% | 2.1M → 2.1M | −$3.1M | −0.01% | 1.4% | — |
| BRX | Brixmor Property Group, Inc. | reduced −15% | 563,170 → 477,150 | −$2.7M | −0.01% | 0.1% | — |
| FISV | Fiserv, Inc. | reduced −8% | 588,885 → 539,839 | −$2.4M | −0.01% | 0.1% | 83% undervalued |
| EQIX | Equinix, Inc. | reduced −9% | 21,223 → 19,313 | −$2.0M | −0.01% | 0.1% | 5% undervalued |
| SCHW | Charles Schwab Corp. | reduced −7% | 310,982 → 289,871 | −$1.9M | −0.01% | 0.1% | 43% undervalued |
| IVE | Ishares S&p 500 Value Index Fund | reduced −72% | 11,624 → 3,288 | −$1.9M | −0.01% | 0.0% | — |
| REG | Regency Centers Corporation | reduced −16% | 138,630 → 116,340 | −$1.8M | −0.01% | 0.0% | 4% undervalued |
| SOLV | Solventum Corp. | reduced −0% | 6.3M → 6.3M | −$1.7M | −0.01% | 2.1% | 55% undervalued |
| AMH | American Homes 4 Rent - Class A | added +17% | 277,170 → 325,590 | +$1.6M | +0.01% | 0.0% | — |
| TSM | Taiwan Semiconductor Manufacturing, ADR | reduced −45% | 7,200 → 3,980 | −$1.5M | −0.01% | 0.0% | — |
| FRMI | Fermi Inc. | added +48% | 305,730 → 451,400 | +$1.3M | +0.01% | 0.0% | — |
| PSA | Public Storage, Inc. | reduced −9% | 41,260 → 37,740 | −$1.1M | −0.00% | 0.1% | 1% undervalued |
| DLR | Digital Realty Trust, Inc. | reduced −7% | 78,880 → 73,280 | −$1.0M | −0.00% | 0.1% | 7% overvalued |
| EQR | Equity Residential | reduced −13% | 105,765 → 91,855 | −$944,906.3 | −0.00% | 0.0% | — |
| DAR | Darling Ingredients Inc. | reduced −9% | 187,905 → 170,846 | −$932,595.9 | −0.00% | 0.0% | — |
| PPLI | People Inc. | reduced −1% | 2.4M → 2.4M | −$887,327.7 | −0.00% | 0.5% | — |
| TFC | Truist Financial Corp. | reduced −7% | 224,805 → 208,391 | −$817,745.5 | −0.00% | 0.0% | 12% undervalued |
| ORCL | Oracle Corporation | reduced −7% | 80,414 → 74,923 | −$804,281.8 | −0.00% | 0.0% | 30% undervalued |
| JAN | Janus Living, Inc. | added +250% | 10,000 → 35,000 | +$718,500 | +0.00% | 0.0% | — |
| STT | State Street Corp. | reduced −3% | 152,200 → 147,966 | −$718,086.4 | −0.00% | 0.1% | 5% overvalued |
| REXR | Rexford Industrial Realty, Inc. | reduced −8% | 209,610 → 191,960 | −$591,275 | −0.00% | 0.0% | — |
| NOAH | Noah Holdings Ltd., Class A, Ads | reduced −6% | 1.0M → 964,486 | −$570,419 | −0.00% | 0.0% | — |
| PLD | Prologis, Inc. | reduced −2% | 182,586 → 178,556 | −$545,944.1 | −0.00% | 0.1% | 4% undervalued |
| MTB | M & T Bank Corp | reduced −4% | 60,305 → 58,072 | −$531,476.3 | −0.00% | 0.1% | 10% undervalued |
| SNPS | Synopsys, Inc. | reduced −4% | 25,913 → 24,962 | −$424,476.7 | −0.00% | 0.0% | 306% overvalued |
| CUZ | Cousins Properties, Inc. | reduced −2% | 586,465 → 573,605 | −$385,542.8 | −0.00% | 0.1% | — |
| CCK | Crown Holdings, Inc. | reduced −36% | 8,570 → 5,470 | −$346,641.8 | −0.00% | 0.0% | — |
| BXP | Bxp, Inc. | reduced −2% | 237,190 → 232,050 | −$340,833.4 | −0.00% | 0.1% | 16% undervalued |
| DOC | Healthpeak Properties, Inc. | reduced −2% | 645,206 → 631,026 | −$303,452 | −0.00% | 0.1% | 15% undervalued |
| SPG | Simon Property Group, Inc. | reduced −2% | 50,458 → 49,318 | −$254,961 | −0.00% | 0.0% | 10% overvalued |
| CDP | Copt Defense Properties | reduced −2% | 299,200 → 292,700 | −$236,535 | −0.00% | 0.0% | — |
| EGP | Eastgroup Properties, Inc. | reduced −2% | 52,370 → 51,230 | −$230,884.2 | −0.00% | 0.0% | — |
| SHO | Sunstone Hotel Investors, Inc. | reduced −2% | 889,720 → 870,120 | −$224,420 | −0.00% | 0.0% | — |
| AMT | American Tower Corp | reduced −2% | 64,620 → 63,250 | −$224,090.9 | −0.00% | 0.0% | 19% undervalued |
| COP | Conocophillips | added +0% | 1.9M → 1.9M | +$224,030.1 | +0.00% | 0.8% | 24% undervalued |
| VTR | Ventas, Inc. | reduced −2% | 113,870 → 111,420 | −$217,560 | −0.00% | 0.0% | 24% overvalued |
| CPT | Camden Property Trust | reduced −2% | 88,010 → 86,120 | −$216,386.1 | −0.00% | 0.0% | 13% undervalued |
| TRNO | Terreno Realty Corp. | reduced −2% | 113,507 → 111,037 | −$159,981.9 | −0.00% | 0.0% | — |
| O | Realty Income Corp. | reduced −2% | 94,910 → 92,720 | −$135,692.4 | −0.00% | 0.0% | 13% undervalued |
| CHCT | Community Healthcare Trust, Inc. | reduced −2% | 330,040 → 322,890 | −$130,702 | −0.00% | 0.0% | — |
| VICI | Vici Properties, Inc. | reduced −2% | 220,180 → 215,360 | −$127,971 | −0.00% | 0.0% | 31% undervalued |
| SUI | Sun Communities, Inc. | reduced −2% | 43,430 → 42,480 | −$113,914.5 | −0.00% | 0.0% | — |
| HPP | Hudson Pacific Properties, Inc. | reduced −2% | 322,176 → 315,236 | −$105,418.6 | −0.00% | 0.0% | — |
Bought / sold is the change in shares × the quarter's reported price (value ÷ shares in the filing); a position sold out is priced at the quarter before, since it has no price in this one. “Of the portfolio” is that amount against this quarter's reported book.
Source: the manager's Form 13F-HR on SEC EDGAR, kept as immutable quarterly snapshots; changes compare two consecutive filings. A 13F is filed up to 45 days after quarter end and covers US-listed long positions only. Tickers come from a self-maintained CUSIP map; a position without one shows its CUSIP. Method notes in where the numbers come from.