# EDGAR Filing Document

**Accession Number:** 0000842512
**File Stem:** 0001580642-23-000017
**Filing Date:** 2023-1
**Character Count:** 15753
**Document Hash:** 1ada3e8c129a96bf6bf2018aaf467c9c
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001580642-23-000017.hdr.sgml**: 20230103

**ACCESSION NUMBER**: 0001580642-23-000017

**CONFORMED SUBMISSION TYPE**: 497

**PUBLIC DOCUMENT COUNT**: 1

**FILED AS OF DATE**: 20230103

**DATE AS OF CHANGE**: 20230103

**EFFECTIVENESS DATE**: 20230103

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** WILLIAMSBURG INVESTMENT TRUST
- **CENTRAL INDEX KEY:** 0000842512
- **IRS NUMBER:** 566344591
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 0331

**FILING VALUES:**
- **FORM TYPE:** 497
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 033-25301
- **FILM NUMBER:** 23501340

**BUSINESS ADDRESS:**
- **STREET 1:** C/O ULTIMUS FUND SOLUTIONS, LLC
- **STREET 2:** 225 PICTORIA DRIVE, SUITE 450
- **CITY:** CINCINNATI
- **STATE:** OH
- **ZIP:** 45246
- **BUSINESS PHONE:** 513-587-3400

**MAIL ADDRESS:**
- **STREET 1:** C/O ULTIMUS FUND SOLUTIONS, LLC
- **STREET 2:** 225 PICTORIA DRIVE, SUITE 450
- **CITY:** CINCINNATI
- **STATE:** OH
- **ZIP:** 45246

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** NOTTINGHAM INVESTMENT TRUST /NC/
- **DATE OF NAME CHANGE:** 19940125

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** NOTTINGHAM INVESTMENT TRUST
- **DATE OF NAME CHANGE:** 19940125

## Series and Classes Contracts Data

### Davenport Core Fund (Series ID: S000001559)

---

|  |  |  |
|:---|:---|:---|
| Class Name          | Ticker Symbol | Class ID   |
| Davenport Core Fund | DAVPX         | C000004218 |

---

### Davenport Value & Income Fund (Series ID: S000030554)

---

|  |  |  |
|:---|:---|:---|
| Class Name                    | Ticker Symbol | Class ID   |
| Davenport Value & Income Fund | DVIPX         | C000094748 |

---

### Davenport Equity Opportunities Fund (Series ID: S000030555)

---

|  |  |  |
|:---|:---|:---|
| Class Name                          | Ticker Symbol | Class ID   |
| Davenport Equity Opportunities Fund | DEOPX         | C000094749 |

---

### Davenport Small Cap Focus Fund (Series ID: S000047867)

---

|  |  |  |
|:---|:---|:---|
| Class Name                     | Ticker Symbol | Class ID   |
| Davenport Small Cap Focus Fund | DSCPX         | C000150331 |

---

### Davenport Balanced Income Fund (Series ID: S000052150)

---

|  |  |  |
|:---|:---|:---|
| Class Name                     | Ticker Symbol | Class ID   |
| Davenport Balanced Income Fund | DBALX         | C000164143 |

---

## Series and Classes Contracts Data

### Davenport Core Fund (Series ID: S000001559)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000004218 | Davenport Core Fund | DAVPX           |

### Davenport Value & Income Fund (Series ID: S000030554)

| Class ID   | Class Name                    | Ticker Symbol   |
|:---|:---|:---|
| C000094748 | Davenport Value & Income Fund | DVIPX           |

### Davenport Equity Opportunities Fund (Series ID: S000030555)

| Class ID   | Class Name                          | Ticker Symbol   |
|:---|:---|:---|
| C000094749 | Davenport Equity Opportunities Fund | DEOPX           |

### Davenport Small Cap Focus Fund (Series ID: S000047867)

| Class ID   | Class Name                     | Ticker Symbol   |
|:---|:---|:---|
| C000150331 | Davenport Small Cap Focus Fund | DSCPX           |

### Davenport Balanced Income Fund (Series ID: S000052150)

| Class ID   | Class Name                     | Ticker Symbol   |
|:---|:---|:---|
| C000164143 | Davenport Balanced Income Fund | DBALX           |

January 1, 2023

**The Davenport Funds**

**Davenport Core Fund** 

**Ticker Symbol: DAVPX** 

**Davenport Value & Income Fund**

**Ticker Symbol: DVIPX**

**Davenport Equity Opportunities Fund**

**Ticker Symbol: DEOPX**

**Davenport Small Cap Focus Fund**

**Ticker Symbol: DSCPX**

**Davenport Balanced Income Fund**

**Ticker Symbol: DBALX**

**Supplement to Prospectus and Statement of Additional Information** 

**Dated August 1, 2022**

Changes to the portfolio management team for the Davenport Core Fund, the Davenport Value & Income Fund and the Davenport Balanced Income Fund became effective on January 1, 2023 when Adam Bergman was appointed co-portfolio manager and Investment Policy Committee member. The disclosure in the section, "*Management of the Fund - Portfolio Managers"* in the Risk/Return Summary for the Davenport Core Fund, Davenport Value & Income Fund and Davenport Balanced Income Fund is replaced in its entirety as follows:

**RISK/RETURN SUMMARY**

**Davenport Core Fund - Portfolio Managers (page 8)**

The Core Fund is managed by the members of the Advisor's Investment Policy Committee ("IPC"), each of whom has an equal role in the decision-making process. The members of the IPC are:

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Name** | &nbsp;&nbsp;**Title with the Advisor** | &nbsp;&nbsp;**Length of Service to the Fund** |
| &nbsp;&nbsp;John P. Ackerly, IV, CFA | &nbsp;&nbsp;Senior Vice President and Director | &nbsp;&nbsp;Since 1999 |
| &nbsp;&nbsp;Michael S. Beall, CFA | &nbsp;&nbsp;Executive Vice President and Director | &nbsp;&nbsp;Since inception (1998) |
| &nbsp;&nbsp;Adam Bergman, CFA | &nbsp;&nbsp;Senior Vice President | &nbsp;&nbsp;Since 2023 |
| &nbsp;&nbsp;E. Trigg Brown, Jr. | &nbsp;&nbsp;Executive Vice President and Director | &nbsp;&nbsp;Since 2002 |
| &nbsp;&nbsp;Robert B. Giles | &nbsp;&nbsp;Executive Vice President and Director | &nbsp;&nbsp;Since 2007 |
| &nbsp;&nbsp;Christopher G. Pearson, CFA | &nbsp;&nbsp;Senior Vice President and Director | &nbsp;&nbsp;Since 2019 |
| &nbsp;&nbsp;Joel M. Ray, CFA | &nbsp;&nbsp;Senior Vice President and Director | &nbsp;&nbsp;Since 2020 |
| &nbsp;&nbsp;George L. Smith, III, CFA | &nbsp;&nbsp;Senior Vice President and Director | &nbsp;&nbsp;Since 2010 |

---

**Davenport Value & Income Fund - Portfolio Managers (page 14)**

The Value & Income Fund is managed by the members of the Advisor's Investment Policy Committee ("IPC"), each of whom has an equal role in the decision-making process. The members of the IPC are:

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Name** | &nbsp;&nbsp;**Title with the Advisor** | &nbsp;&nbsp;**Length of Service to the Fund** |
| &nbsp;&nbsp;John P. Ackerly, IV, CFA | &nbsp;&nbsp;Senior Vice President and Director | &nbsp;&nbsp;Since inception (2010) |
| &nbsp;&nbsp;Michael S. Beall, CFA | &nbsp;&nbsp;Executive Vice President and Director | &nbsp;&nbsp;Since inception (2010) |
| &nbsp;&nbsp;Adam Bergman, CFA | &nbsp;&nbsp;Senior Vice President | &nbsp;&nbsp;Since 2023 |
| &nbsp;&nbsp;E. Trigg Brown, Jr. | &nbsp;&nbsp;Executive Vice President and Director | &nbsp;&nbsp;Since inception (2010) |
| &nbsp;&nbsp;Robert B. Giles | &nbsp;&nbsp;Executive Vice President and Director | &nbsp;&nbsp;Since inception (2010) |
| &nbsp;&nbsp;Christopher G. Pearson, CFA | &nbsp;&nbsp;Senior Vice President and Director | &nbsp;&nbsp;Since 2019 |
| &nbsp;&nbsp;Joel M. Ray, CFA | &nbsp;&nbsp;Senior Vice President and Director | &nbsp;&nbsp;Since 2020 |
| &nbsp;&nbsp;George L. Smith, III, CFA | &nbsp;&nbsp;Senior Vice President and Director | &nbsp;&nbsp;Since inception (2010) |

---

**Davenport Balanced Income Fund - Portfolio Managers (page 37)**

The equity portion of the Balanced Income Fund is managed by members of the Advisor's Investment Policy Committee ("IPC") and the fixed income portion is managed by Kevin J. Hopkins, Jr., CFA, Christopher T. Kelley and William B. Cleland, CFP, subject to oversight by the IPC. The IPC is responsible for determining the Fund's asset allocations among equity and fixed income investments.

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Name** | &nbsp;&nbsp;**Title with the Advisor** | &nbsp;&nbsp;**Length of Service to the Fund** |
| &nbsp;&nbsp;\*John P. Ackerly, IV, CFA | &nbsp;&nbsp;Senior Vice President and Director | &nbsp;&nbsp;Since inception (2015) |
| &nbsp;&nbsp;\*Michael S. Beall, CFA | &nbsp;&nbsp;Executive Vice President and Director | &nbsp;&nbsp;Since inception (2015) |
| &nbsp;&nbsp;\*Adam Bergman, CFA | &nbsp;&nbsp;Senior Vice President | &nbsp;&nbsp;Since 2023 |
| &nbsp;&nbsp;\*E. Trigg Brown, Jr. | &nbsp;&nbsp;Executive Vice President and Director | &nbsp;&nbsp;Since inception (2015) |
| &nbsp;&nbsp;\*Robert B. Giles | &nbsp;&nbsp;Executive Vice President and Director | &nbsp;&nbsp;Since inception (2015) |
| &nbsp;&nbsp;\*Christopher G. Pearson, CFA | &nbsp;&nbsp;Senior Vice President and Director | &nbsp;&nbsp;Since 2019 |
| &nbsp;&nbsp;\*Joel M. Ray, CFA | &nbsp;&nbsp;Senior Vice President and Director | &nbsp;&nbsp;Since 2020 |
| &nbsp;&nbsp;\*George L. Smith, III, CFA | &nbsp;&nbsp;Senior Vice President and Director | &nbsp;&nbsp;Since inception (2015) |
| &nbsp;&nbsp;Christopher T. Kelley | &nbsp;&nbsp;Vice President | &nbsp;&nbsp;Since inception (2015) |
| &nbsp;&nbsp;Kevin J. Hopkins, Jr., CFA | &nbsp;&nbsp;Vice President | &nbsp;&nbsp;Since 2020 |
| &nbsp;&nbsp;William B. Cleland, CFP | &nbsp;&nbsp;Vice President | &nbsp;&nbsp;Since 2021 |

---

\*Member of the IPC

The section, "*Management of the Funds"* beginning on page 53 of the Prospectus and *"Investment Adviser"* beginning on page 38 of the Statement of Additional Information has been updated to include Mr. Bergman in the biographies of the IPC members.

&nbsp;&nbsp;&nbsp;&nbsp;· **Adam Bergman, CFA** (age
48) joined the Advisor in 2022 and currently serves as a Senior Vice President. Prior to joining the Advisor, Mr. Bergman was a Portfolio
Manager and Executive Director at Sterling Capital Management, a Truist subsidiary, from 2007 until 2022.

**Please retain this Supplement for future reference**

January 1, 2023

**The Davenport Funds**

**Davenport Balanced Income Fund (DBALX)**

**Supplement to the Summary Prospectus Dated August 1, 2022**

Changes to the portfolio management team for the Davenport Balanced Income Fund became effective on January 1, 2023 when Adam Bergman was appointed co-portfolio manager and Investment Policy Committee member. Accordingly, the disclosure in the section *Management of the Fund - Portfolio Managers* on page 6 of the Summary Prospectus is replaced in its entirety as follows:

**Portfolio Managers**

The equity portion of the Balanced Income Fund is managed by members of the Advisor's Investment Policy Committee ("IPC") and the fixed income portion is managed by Kevin J. Hopkins, Jr., CFA, Christopher T. Kelley and William B. Cleland, CFP, subject to oversight by the IPC. The IPC is responsible for determining the Fund's asset allocations among equity and fixed income investments.

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Name** | &nbsp;&nbsp;**Title with the Advisor** | &nbsp;&nbsp;**Length of Service to the Fund** |
| &nbsp;&nbsp;\*John P. Ackerly, IV, CFA | &nbsp;&nbsp;Senior Vice President and Director | &nbsp;&nbsp;Since inception (2015) |
| &nbsp;&nbsp;\*Michael S. Beall, CFA | &nbsp;&nbsp;Executive Vice President and Director | &nbsp;&nbsp;Since inception (2015) |
| &nbsp;&nbsp;\*Adam Bergman, CFA | &nbsp;&nbsp;Senior Vice President | &nbsp;&nbsp;Since 2023 |
| &nbsp;&nbsp;\*E. Trigg Brown, Jr. | &nbsp;&nbsp;Executive Vice President and Director | &nbsp;&nbsp;Since inception (2015) |
| &nbsp;&nbsp;\*Robert B. Giles | &nbsp;&nbsp;Executive Vice President and Director | &nbsp;&nbsp;Since inception (2015) |
| &nbsp;&nbsp;\*Christopher G. Pearson, CFA | &nbsp;&nbsp;Senior Vice President and Director | &nbsp;&nbsp;Since 2019 |
| &nbsp;&nbsp;\*Joel M. Ray, CFA | &nbsp;&nbsp;Senior Vice President and Director | &nbsp;&nbsp;Since 2020 |
| &nbsp;&nbsp;\*George L. Smith, III, CFA | &nbsp;&nbsp;Senior Vice President and Director | &nbsp;&nbsp;Since inception (2015) |
| &nbsp;&nbsp;Christopher T. Kelley | &nbsp;&nbsp;Vice President | &nbsp;&nbsp;Since inception (2015) |
| &nbsp;&nbsp;Kevin J. Hopkins, Jr., CFA | &nbsp;&nbsp;Vice President | &nbsp;&nbsp;Since 2020 |
| &nbsp;&nbsp;William B. Cleland, CFP | &nbsp;&nbsp;Vice President | &nbsp;&nbsp;Since 2021 |

---

\*Member of the IPC

**Please retain this Supplement for future reference**

January 1, 2023

**The Davenport Funds**

**Davenport Core Fund (DAVPX)**

**Supplement to the Summary Prospectus Dated August 1, 2022**

Changes to the portfolio management team for the Davenport Core Fund became effective on January 1, 2023 when Adam Bergman was appointed co-portfolio manager and Investment Policy Committee member. Accordingly, the disclosure in the section *Management of the Fund - Portfolio Managers* on page 3 of the Summary Prospectus is replaced in its entirety as follows:

**Portfolio Managers**

The Core Fund is managed by the members of the Advisor's Investment Policy Committee ("IPC"), each of whom has an equal role in the decision-making process. The members of the IPC are:

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Name** | &nbsp;&nbsp;**Title with the Advisor** | &nbsp;&nbsp;**Length of Service to the Fund** |
| &nbsp;&nbsp;John P. Ackerly, IV, CFA | &nbsp;&nbsp;Senior Vice President and Director | &nbsp;&nbsp;Since 1999 |
| &nbsp;&nbsp;Michael S. Beall, CFA | &nbsp;&nbsp;Executive Vice President and Director | &nbsp;&nbsp;Since inception (1998) |
| &nbsp;&nbsp;Adam Bergman, CFA | &nbsp;&nbsp;Senior Vice President | &nbsp;&nbsp;Since 2023 |
| &nbsp;&nbsp;E. Trigg Brown, Jr. | &nbsp;&nbsp;Executive Vice President and Director | &nbsp;&nbsp;Since 2002 |
| &nbsp;&nbsp;Robert B. Giles | &nbsp;&nbsp;Executive Vice President and Director | &nbsp;&nbsp;Since 2007 |
| &nbsp;&nbsp;Christopher G. Pearson, CFA | &nbsp;&nbsp;Senior Vice President and Director | &nbsp;&nbsp;Since 2019 |
| &nbsp;&nbsp;Joel M. Ray, CFA | &nbsp;&nbsp;Senior Vice President and Director | &nbsp;&nbsp;Since 2020 |
| &nbsp;&nbsp;George L. Smith, III, CFA | &nbsp;&nbsp;Senior Vice President and Director | &nbsp;&nbsp;Since 2010 |

---

**Please retain this Supplement for future reference**

January 1, 2023

**The Davenport Funds**

**Davenport Value & Income Fund (DVIPX)**

**Supplement to the Summary Prospectus Dated August 1, 2022**

Changes to the portfolio management team for the Davenport Value & Income Fund became effective on January 1, 2023 when Adam Bergman was appointed co-portfolio manager and Investment Policy Committee member. Accordingly, the disclosure in the section *Management of the Fund - Portfolio Managers* on page 4 of the Summary Prospectus is replaced in its entirety as follows:

**Portfolio Managers**

The Value & Income Fund is managed by the members of the Advisor's Investment Policy Committee ("IPC"), each of whom has an equal role in the decision-making process. The members of the IPC are:

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Name** | &nbsp;&nbsp;**Title with the Advisor** | &nbsp;&nbsp;**Length of Service to the Fund** |
| &nbsp;&nbsp;John P. Ackerly, IV, CFA | &nbsp;&nbsp;Senior Vice President and Director | &nbsp;&nbsp;Since inception (2010) |
| &nbsp;&nbsp;Michael S. Beall, CFA | &nbsp;&nbsp;Executive Vice President and Director | &nbsp;&nbsp;Since inception (2010) |
| &nbsp;&nbsp;Adam Bergman, CFA | &nbsp;&nbsp;Senior Vice President | &nbsp;&nbsp;Since 2023 |
| &nbsp;&nbsp;E. Trigg Brown, Jr. | &nbsp;&nbsp;Executive Vice President and Director | &nbsp;&nbsp;Since inception (2010) |
| &nbsp;&nbsp;Robert B. Giles | &nbsp;&nbsp;Executive Vice President and Director | &nbsp;&nbsp;Since inception (2010) |
| &nbsp;&nbsp;Christopher G. Pearson, CFA | &nbsp;&nbsp;Senior Vice President and Director | &nbsp;&nbsp;Since 2019 |
| &nbsp;&nbsp;Joel M. Ray, CFA | &nbsp;&nbsp;Senior Vice President and Director | &nbsp;&nbsp;Since 2020 |
| &nbsp;&nbsp;George L. Smith, III, CFA | &nbsp;&nbsp;Senior Vice President and Director | &nbsp;&nbsp;Since inception (2010) |

---

**Please retain this Supplement for future reference**