using System;
using System.Collections.Generic;
using System.ComponentModel;
using System.Data;
using System.Drawing;
using System.Text;
using System.Windows.Forms;
using System.IO;

namespace DynamicListViewTest
{
    public partial class Form1 : Form
    {
        public Form1()
        {
            InitializeComponent();
            ReloadData();
            timer1.Start();
        }

        private void timer1_Tick(object sender, EventArgs e)
        {
            ReloadData();
        }

        private void ReloadData()
        {
            timer1.Stop();
            Object selectedItemTag = null;
            int index = - 1 ;
            if (listView1.SelectedItems.Count >  0 )
                selectedItemTag = listView1.SelectedItems[ 0 ].Text.Clone();
            List<string> data = GetData();
            listView1.Items.Clear();
            if ((data != null) && (data.Count >  0 ))
            {
                int counter= 0 ;
                foreach (object item in data)
                {
                    listView1.Items.Add(item.ToString());

                    if ((selectedItemTag != null) && (item.ToString() == selectedItemTag.ToString()))
                    {
                        index=counter;
                    }
                    counter++;
                }

                if (index >=  0 )
                {
                 listView1.Items[index].Selected = true;
                 listView1.Items[index].Focused = true;
                }
                listView1.Refresh();
            }
            timer1.Start();
        }
        private List<string> GetData()
        {
            List<string> ResultList = null;

            OpenFileDialog fd = new OpenFileDialog();
            fd.InitialDirectory = @"C:\";
            fd.Filter = "All files (*.*)|*.*";
            fd.Multiselect = true;
            //fd.RestoreDirectory = true;

            if (fd.ShowDialog() == DialogResult.OK)
            {
                ResultList = new List<string>();
                foreach (string name in fd.FileNames)
                    ResultList.Add(name);
            }
            return ResultList;
        }
    }
}

 listView1.Items[index].Focused = true;