We investigate the selection of subject fields in Germany's "excellence initiative," a two-phase funding scheme administered by the German Research Foundation (DFG) from 2005 to 2017 to increase international competitiveness of scientific research at German universities. While most empirical studies have examined the "excellence initiative's" effects at the university level ("elite universities"), we focus on subject fields within universities. Based on both descriptive and logistic regression analyses, we find that the "excellence initiative" reveals a stable social order of public universities based on organizational size, that field selection is biased toward those fields with many professors and considerable grant funding, and that funding success in the second phase largely follows decisions from the first phase. We discuss these results and suggest avenues for future research.