# EDGAR Filing Document

**Accession Number:** 0000842512
**File Stem:** 0001752724-23-026655
**Filing Date:** 2023-2
**Character Count:** 80761
**Document Hash:** 565014b5f49c351d78341d1339569644
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-026655.hdr.sgml**: 20230216

**ACCESSION NUMBER**: 0001752724-23-026655

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230216

**DATE AS OF CHANGE**: 20230216

**PERIOD START**: 20230331

**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:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-05685
- **FILM NUMBER:** 23638404

**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 Balanced Income Fund (Series ID: S000052150)

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

## Nport-Ex

---

| | | |
|:---|:---|:---|
| **DAVENPORT CORE FUND** | **DAVENPORT CORE FUND** | **DAVENPORT CORE FUND** |
| **SCHEDULE OF INVESTMENTS** | **SCHEDULE OF INVESTMENTS** | **SCHEDULE OF INVESTMENTS** |
| **December 31, 2022 (Unaudited)** | **December 31, 2022 (Unaudited)** | **December 31, 2022 (Unaudited)** |
| **COMMON STOCKS - 97.0%** | **Shares** | **Value** |
| **Communications - 12.8%** | **Communications - 12.8%** | **Communications - 12.8%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Alphabet, Inc. - Class A <sup>(a)</sup> | &nbsp;&nbsp;158300 | &nbsp;&nbsp;$13966809 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Alphabet, Inc. - Class C <sup>(a)</sup> | &nbsp;&nbsp;133220 | &nbsp;&nbsp;11820611 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Booking Holdings, Inc. <sup>(a)</sup> | &nbsp;&nbsp;5669 | &nbsp;&nbsp;11424622 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Electronic Arts, Inc. | &nbsp;&nbsp;126000 | &nbsp;&nbsp;15394680 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Meta Platforms, Inc. - Class A <sup>(a)</sup> | &nbsp;&nbsp;75713 | &nbsp;&nbsp;9111302 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;T-Mobile US, Inc. <sup>(a)</sup> | &nbsp;&nbsp;112620 | &nbsp;&nbsp;15766800 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Walt Disney Company (The) <sup>(a)</sup> | &nbsp;&nbsp;137399 | &nbsp;&nbsp;11937225 |
|  |  | &nbsp;&nbsp;89422049 |
| **Consumer Discretionary - 8.6%** | **Consumer Discretionary - 8.6%** | **Consumer Discretionary - 8.6%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amazon.com, Inc. <sup>(a)</sup> | &nbsp;&nbsp;225300 | &nbsp;&nbsp;18925200 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CarMax, Inc. <sup>(a)</sup> | &nbsp;&nbsp;145983 | &nbsp;&nbsp;8888905 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Home Depot, Inc. (The) | &nbsp;&nbsp;34578 | &nbsp;&nbsp;10921807 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;TJX Companies, Inc. (The) | &nbsp;&nbsp;270918 | &nbsp;&nbsp;21565073 |
|  |  | &nbsp;&nbsp;60300985 |
| **Consumer Staples - 3.0%** | **Consumer Staples - 3.0%** | **Consumer Staples - 3.0%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Constellation Brands, Inc. - Class A | &nbsp;&nbsp;48490 | &nbsp;&nbsp;11237558 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Costco Wholesale Corporation | &nbsp;&nbsp;20970 | &nbsp;&nbsp;9572805 |
|  |  | &nbsp;&nbsp;20810363 |
| **Energy - 4.7%** | **Energy - 4.7%** | **Energy - 4.7%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;EOG Resources, Inc. | &nbsp;&nbsp;71335 | &nbsp;&nbsp;9239309 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pioneer Natural Resources Company | &nbsp;&nbsp;104493 | &nbsp;&nbsp;23865156 |
|  |  | &nbsp;&nbsp;33104465 |
| **Financials - 15.0%** | **Financials - 15.0%** | **Financials - 15.0%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Aon plc - Class A | &nbsp;&nbsp;47135 | &nbsp;&nbsp;14147099 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bank of America Corporation | &nbsp;&nbsp;281855 | &nbsp;&nbsp;9335038 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Berkshire Hathaway, Inc. - Class B <sup>(a)</sup> | &nbsp;&nbsp;66820 | &nbsp;&nbsp;20640698 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Brookfield Asset Management Ltd. - Class A <sup>(a)</sup> | &nbsp;&nbsp;135522 | &nbsp;&nbsp;3885416 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Brookfield Corporation | &nbsp;&nbsp;527590 | &nbsp;&nbsp;16597981 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;JPMorgan Chase & Company | &nbsp;&nbsp;104842 | &nbsp;&nbsp;14059312 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Markel Corporation <sup>(a)</sup> | &nbsp;&nbsp;19823 | &nbsp;&nbsp;26116604 |
|  |  | &nbsp;&nbsp;104782148 |
| **Health Care - 13.5%** | **Health Care - 13.5%** | **Health Care - 13.5%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Abbott Laboratories | &nbsp;&nbsp;139508 | &nbsp;&nbsp;15316583 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Danaher Corporation | &nbsp;&nbsp;99675 | &nbsp;&nbsp;26455739 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Johnson & Johnson | &nbsp;&nbsp;141102 | &nbsp;&nbsp;24925668 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Novo Nordisk A/S - ADR | &nbsp;&nbsp;90703 | &nbsp;&nbsp;12275744 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;UnitedHealth Group, Inc. | &nbsp;&nbsp;29061 | &nbsp;&nbsp;15407561 |
|  |  | &nbsp;&nbsp;94381295 |
| **Industrials - 5.1%** | **Industrials - 5.1%** | **Industrials - 5.1%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Honeywell International, Inc. | &nbsp;&nbsp;85081 | &nbsp;&nbsp;18232858 |

---

---

| | | |
|:---|:---|:---|
| **DAVENPORT CORE FUND** | **DAVENPORT CORE FUND** | **DAVENPORT CORE FUND** |
| **SCHEDULE OF INVESTMENTS (Continued)** | **SCHEDULE OF INVESTMENTS (Continued)** | **SCHEDULE OF INVESTMENTS (Continued)** |
| **COMMON STOCKS - 97.0% (Continued)** | **Shares** | **Value** |
| **Industrials - 5.1% (Continued)** | **Industrials - 5.1% (Continued)** | **Industrials - 5.1% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Union Pacific Corporation | &nbsp;&nbsp;82937 | &nbsp;&nbsp;$17173765 |
|  |  | &nbsp;&nbsp;35406623 |
| **Materials - 8.8%** | **Materials - 8.8%** | **Materials - 8.8%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Air Products & Chemicals, Inc. | &nbsp;&nbsp;78373 | &nbsp;&nbsp;24159261 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Martin Marietta Materials, Inc. | &nbsp;&nbsp;57123 | &nbsp;&nbsp;19305860 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sherwin-Williams Company (The) | &nbsp;&nbsp;75615 | &nbsp;&nbsp;17945708 |
|  |  | &nbsp;&nbsp;61410829 |
| **Real Estate - 2.4%** | **Real Estate - 2.4%** | **Real Estate - 2.4%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;American Tower Corporation | &nbsp;&nbsp;79869 | &nbsp;&nbsp;16921046 |
| **Technology - 23.1%** | **Technology - 23.1%** | **Technology - 23.1%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accenture plc - Class A | &nbsp;&nbsp;63877 | &nbsp;&nbsp;17044939 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Adobe, Inc. <sup>(a)</sup> | &nbsp;&nbsp;58570 | &nbsp;&nbsp;19710562 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Apple, Inc. | &nbsp;&nbsp;145747 | &nbsp;&nbsp;18936908 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Broadcom, Inc. | &nbsp;&nbsp;28113 | &nbsp;&nbsp;15718822 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Intuit, Inc. | &nbsp;&nbsp;26985 | &nbsp;&nbsp;10503102 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mastercard, Inc. - Class A | &nbsp;&nbsp;60062 | &nbsp;&nbsp;20885359 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Microsoft Corporation | &nbsp;&nbsp;96918 | &nbsp;&nbsp;23242875 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Moody's Corporation | &nbsp;&nbsp;37574 | &nbsp;&nbsp;10468868 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ServiceNow, Inc. <sup>(a)</sup> | &nbsp;&nbsp;22864 | &nbsp;&nbsp;8877405 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Visa, Inc. - Class A | &nbsp;&nbsp;78539 | &nbsp;&nbsp;16317262 |
|  |  | &nbsp;&nbsp;161706102 |
| **Total Common Stocks** (Cost $458,539,937) | **Total Common Stocks** (Cost $458,539,937) | &nbsp;&nbsp;$678245905 |
| **MONEY MARKET FUNDS - 0.8%** | **Shares** | **Value** |
| First American Treasury Obligations Fund - Class Z, 4.16% <sup>(b)</sup> (Cost $5,753,952) | &nbsp;&nbsp;5753952 | &nbsp;&nbsp;$5753952 |
| **Total Investments at Value - 97.8%** (Cost $464,293,889) | **Total Investments at Value - 97.8%** (Cost $464,293,889) | &nbsp;&nbsp;$683999857 |
| **Other Assets in Excess of Liabilities - 2.2%** | **Other Assets in Excess of Liabilities - 2.2%** | &nbsp;&nbsp;15122286 |
| **Net Assets - 100.0%** | **Net Assets - 100.0%** | &nbsp;&nbsp;$699122143 |

---

ADR - American Depositary Receipt.

<sup>(a)</sup> Non-income producing security.

<sup>(b)</sup> The rate shown is the 7-day effective yield as of December 31, 2022.

---

| | | |
|:---|:---|:---|
| **DAVENPORT VALUE & INCOME FUND** | **DAVENPORT VALUE & INCOME FUND** | **DAVENPORT VALUE & INCOME FUND** |
| **SCHEDULE OF INVESTMENTS** | **SCHEDULE OF INVESTMENTS** | **SCHEDULE OF INVESTMENTS** |
| **December 31, 2022 (Unaudited)** | **December 31, 2022 (Unaudited)** | **December 31, 2022 (Unaudited)** |
| **COMMON STOCKS - 96.3%** | **Shares** | **Value** |
| **Communications - 4.8%** | **Communications - 4.8%** | **Communications - 4.8%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Alphabet, Inc. - Class A <sup>(a)</sup> | &nbsp;&nbsp;173065 | &nbsp;&nbsp;$15269525 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Comcast Corporation - Class A | &nbsp;&nbsp;660148 | &nbsp;&nbsp;23085375 |
|  |  | &nbsp;&nbsp;38354900 |
| **Consumer Discretionary - 6.4%** | **Consumer Discretionary - 6.4%** | **Consumer Discretionary - 6.4%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cannae Holdings, Inc. <sup>(a)</sup> | &nbsp;&nbsp;515540 | &nbsp;&nbsp;10645901 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Lowe's Companies, Inc. | &nbsp;&nbsp;93313 | &nbsp;&nbsp;18591682 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;McDonald's Corporation | &nbsp;&nbsp;83188 | &nbsp;&nbsp;21922534 |
|  |  | &nbsp;&nbsp;51160117 |
| **Consumer Staples - 13.2%** | **Consumer Staples - 13.2%** | **Consumer Staples - 13.2%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bunge Ltd. | &nbsp;&nbsp;169735 | &nbsp;&nbsp;16934461 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Diageo plc - ADR | &nbsp;&nbsp;93450 | &nbsp;&nbsp;16651855 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Kraft Heinz Company (The) | &nbsp;&nbsp;335010 | &nbsp;&nbsp;13638257 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Philip Morris International, Inc. | &nbsp;&nbsp;202763 | &nbsp;&nbsp;20521643 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sysco Corporation | &nbsp;&nbsp;174159 | &nbsp;&nbsp;13314456 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Target Corporation | &nbsp;&nbsp;75015 | &nbsp;&nbsp;11180236 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Walmart, Inc. | &nbsp;&nbsp;95166 | &nbsp;&nbsp;13493587 |
|  |  | &nbsp;&nbsp;105734495 |
| **Energy - 8.0%** | **Energy - 8.0%** | **Energy - 8.0%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Chevron Corporation | &nbsp;&nbsp;125492 | &nbsp;&nbsp;22524559 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Coterra Energy, Inc. | &nbsp;&nbsp;990636 | &nbsp;&nbsp;24339927 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Enbridge, Inc. | &nbsp;&nbsp;433180 | &nbsp;&nbsp;16937338 |
|  |  | &nbsp;&nbsp;63801824 |
| **Financials - 23.0%** | **Financials - 23.0%** | **Financials - 23.0%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Berkshire Hathaway, Inc. - Class B <sup>(a)</sup> | &nbsp;&nbsp;100068 | &nbsp;&nbsp;30911005 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Brookfield Asset Management Ltd. - Class A <sup>(a)</sup> | &nbsp;&nbsp;321630 | &nbsp;&nbsp;9221132 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Brookfield Corporation | &nbsp;&nbsp;641892 | &nbsp;&nbsp;20193922 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Capital One Financial Corporation | &nbsp;&nbsp;128585 | &nbsp;&nbsp;11953262 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Citigroup, Inc. | &nbsp;&nbsp;211627 | &nbsp;&nbsp;9571889 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fairfax Financial Holdings Ltd. | &nbsp;&nbsp;54415 | &nbsp;&nbsp;32329040 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fidelity National Financial, Inc. | &nbsp;&nbsp;346344 | &nbsp;&nbsp;13029461 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;JPMorgan Chase & Company | &nbsp;&nbsp;138488 | &nbsp;&nbsp;18571241 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Markel Corporation <sup>(a)</sup> | &nbsp;&nbsp;17818 | &nbsp;&nbsp;23475037 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Wells Fargo & Company | &nbsp;&nbsp;340290 | &nbsp;&nbsp;14050574 |
|  |  | &nbsp;&nbsp;183306563 |
| **Health Care - 11.7%** | **Health Care - 11.7%** | **Health Care - 11.7%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Elevance Health, Inc. | &nbsp;&nbsp;35226 | &nbsp;&nbsp;18069881 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Johnson & Johnson | &nbsp;&nbsp;206662 | &nbsp;&nbsp;36506842 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Medtronic plc | &nbsp;&nbsp;265903 | &nbsp;&nbsp;20665981 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Perrigo Company plc | &nbsp;&nbsp;524618 | &nbsp;&nbsp;17884228 |
|  |  | &nbsp;&nbsp;93126932 |

---

---

| | | |
|:---|:---|:---|
| **DAVENPORT VALUE & INCOME FUND** | **DAVENPORT VALUE & INCOME FUND** | **DAVENPORT VALUE & INCOME FUND** |
| **SCHEDULE OF INVESTMENTS (Continued)** | **SCHEDULE OF INVESTMENTS (Continued)** | **SCHEDULE OF INVESTMENTS (Continued)** |
| **COMMON STOCKS - 96.3% (Continued)** | **Shares** | **Value** |
| **Industrials - 14.9%** | **Industrials - 14.9%** | **Industrials - 14.9%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3M Company | &nbsp;&nbsp;113515 | &nbsp;&nbsp;$13612719 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Deere & Company | &nbsp;&nbsp;38997 | &nbsp;&nbsp;16720354 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;L3Harris Technologies, Inc. | &nbsp;&nbsp;62510 | &nbsp;&nbsp;13015207 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Norfolk Southern Corporation | &nbsp;&nbsp;74214 | &nbsp;&nbsp;18287814 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;TE Connectivity Ltd. | &nbsp;&nbsp;151609 | &nbsp;&nbsp;17404713 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;United Parcel Service, Inc. - Class B | &nbsp;&nbsp;111010 | &nbsp;&nbsp;19297978 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Watsco, Inc. | &nbsp;&nbsp;83032 | &nbsp;&nbsp;20708181 |
|  |  | &nbsp;&nbsp;119046966 |
| **Real Estate - 9.9%** | **Real Estate - 9.9%** | **Real Estate - 9.9%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Crown Castle, Inc. | &nbsp;&nbsp;122339 | &nbsp;&nbsp;16594062 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Digital Realty Trust, Inc. | &nbsp;&nbsp;108085 | &nbsp;&nbsp;10837683 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gaming and Leisure Properties, Inc. | &nbsp;&nbsp;306477 | &nbsp;&nbsp;15964387 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Lamar Advertising Company - Class A | &nbsp;&nbsp;244472 | &nbsp;&nbsp;23078157 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SL Green Realty Corporation | &nbsp;&nbsp;376157 | &nbsp;&nbsp;12684014 |
|  |  | &nbsp;&nbsp;79158303 |
| **Technology - 2.2%** | **Technology - 2.2%** | **Technology - 2.2%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;QUALCOMM, Inc. | &nbsp;&nbsp;160725 | &nbsp;&nbsp;17670106 |
| **Utilities - 2.2%** | **Utilities - 2.2%** | **Utilities - 2.2%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NextEra Energy, Inc. | &nbsp;&nbsp;209541 | &nbsp;&nbsp;17517628 |
| **Total Common Stocks** (Cost $643,552,537) | **Total Common Stocks** (Cost $643,552,537) | &nbsp;&nbsp;$768877834 |
| **MONEY MARKET FUNDS - 3.6%** | **Shares** | **Value** |
| First American Treasury Obligations Fund - Class Z, 4.16% <sup>(b)</sup> (Cost $28,967,716) | &nbsp;&nbsp;28967716 | &nbsp;&nbsp;$28967716 |
| **Total Investments at Value - 99.9%** (Cost $672,520,253) | **Total Investments at Value - 99.9%** (Cost $672,520,253) | &nbsp;&nbsp;$797845550 |
| **Other Assets in Excess of Liabilities - 0.1%** | **Other Assets in Excess of Liabilities - 0.1%** | &nbsp;&nbsp;492233 |
| **Net Assets - 100.0%** | **Net Assets - 100.0%** | &nbsp;&nbsp;$798337783 |

---

ADR - American Depositary Receipt.

<sup>(a)</sup> Non-income producing security. <br> <sup>(b)</sup> The rate shown is the 7-day effective yield as of December 31, 2022.

---

| | | |
|:---|:---|:---|
| **DAVENPORT EQUITY OPPORTUNITIES FUND** | **DAVENPORT EQUITY OPPORTUNITIES FUND** | **DAVENPORT EQUITY OPPORTUNITIES FUND** |
| **SCHEDULE OF INVESTMENTS** | **SCHEDULE OF INVESTMENTS** | **SCHEDULE OF INVESTMENTS** |
| **December 31, 2022 (Unaudited)** | **December 31, 2022 (Unaudited)** | **December 31, 2022 (Unaudited)** |
| **COMMON STOCKS - 95.5%** | **Shares** | **Value** |
| **Communications - 7.4%** | **Communications - 7.4%** | **Communications - 7.4%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;DISH Network Corporation - Class A <sup>(a)</sup> | &nbsp;&nbsp;1175074 | &nbsp;&nbsp;$16498039 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Take-Two Interactive Software, Inc. <sup>(a)</sup> | &nbsp;&nbsp;285371 | &nbsp;&nbsp;29715682 |
|  |  | &nbsp;&nbsp;46213721 |
| **Consumer Discretionary - 21.0%** | **Consumer Discretionary - 21.0%** | **Consumer Discretionary - 21.0%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cannae Holdings, Inc. <sup>(a)</sup> | &nbsp;&nbsp;1018253 | &nbsp;&nbsp;21026924 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;DraftKings Inc. - Class A <sup>(a)</sup> | &nbsp;&nbsp;1433904 | &nbsp;&nbsp;16332167 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Etsy, Inc. <sup>(a)</sup> | &nbsp;&nbsp;87791 | &nbsp;&nbsp;10515606 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Live Nation Entertainment, Inc. <sup>(a)</sup> | &nbsp;&nbsp;266689 | &nbsp;&nbsp;18598891 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mobileye Global, Inc. - Class A <sup>(a)</sup> | &nbsp;&nbsp;267645 | &nbsp;&nbsp;9383634 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;O'Reilly Automotive, Inc. <sup>(a)</sup> | &nbsp;&nbsp;47142 | &nbsp;&nbsp;39789262 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pool Corporation | &nbsp;&nbsp;47361 | &nbsp;&nbsp;14318651 |
|  |  | &nbsp;&nbsp;129965135 |
| **Energy - 2.0%** | **Energy - 2.0%** | **Energy - 2.0%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Coterra Energy, Inc. | &nbsp;&nbsp;501661 | &nbsp;&nbsp;12325811 |
| **Financials - 24.4%** | **Financials - 24.4%** | **Financials - 24.4%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Brookfield Asset Management Ltd. - Class A <sup>(a)</sup> | &nbsp;&nbsp;450370 | &nbsp;&nbsp;12912108 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Brookfield Corporation | &nbsp;&nbsp;924295 | &nbsp;&nbsp;29078321 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fairfax Financial Holdings Ltd. | &nbsp;&nbsp;80192 | &nbsp;&nbsp;47643671 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fidelity National Financial, Inc. | &nbsp;&nbsp;516896 | &nbsp;&nbsp;19445627 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Markel Corporation <sup>(a)</sup> | &nbsp;&nbsp;31953 | &nbsp;&nbsp;42097758 |
|  |  | &nbsp;&nbsp;151177485 |
| **Industrials - 13.7%** | **Industrials - 13.7%** | **Industrials - 13.7%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Enovis Corporation <sup>(a)</sup> | &nbsp;&nbsp;209524 | &nbsp;&nbsp;11213724 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ESAB Corporation | &nbsp;&nbsp;209524 | &nbsp;&nbsp;9830866 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Evoqua Water Technologies Corporation <sup>(a)</sup> | &nbsp;&nbsp;565052 | &nbsp;&nbsp;22376059 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Watsco, Inc. | &nbsp;&nbsp;88909 | &nbsp;&nbsp;22173905 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Xylem, Inc. | &nbsp;&nbsp;176563 | &nbsp;&nbsp;19522571 |
|  |  | &nbsp;&nbsp;85117125 |
| **Materials - 7.4%** | **Materials - 7.4%** | **Materials - 7.4%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Martin Marietta Materials, Inc. | &nbsp;&nbsp;71088 | &nbsp;&nbsp;24025612 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sherwin-Williams Company (The) | &nbsp;&nbsp;91710 | &nbsp;&nbsp;21765534 |
|  |  | &nbsp;&nbsp;45791146 |
| **Real Estate - 7.8%** | **Real Estate - 7.8%** | **Real Estate - 7.8%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;American Tower Corporation | &nbsp;&nbsp;117804 | &nbsp;&nbsp;24957956 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Lamar Advertising Company - Class A | &nbsp;&nbsp;248061 | &nbsp;&nbsp;23416958 |
|  |  | &nbsp;&nbsp;48374914 |
| **Technology - 11.8%** | **Technology - 11.8%** | **Technology - 11.8%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Alight, Inc. - Class A <sup>(a)</sup> | &nbsp;&nbsp;3087455 | &nbsp;&nbsp;25811124 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Autodesk, Inc. <sup>(a)</sup> | &nbsp;&nbsp;72539 | &nbsp;&nbsp;13555363 |

---

---

| | | |
|:---|:---|:---|
| **DAVENPORT EQUITY OPPORTUNITIES FUND** | **DAVENPORT EQUITY OPPORTUNITIES FUND** | **DAVENPORT EQUITY OPPORTUNITIES FUND** |
| **SCHEDULE OF INVESTMENTS (Continued)** | **SCHEDULE OF INVESTMENTS (Continued)** | **SCHEDULE OF INVESTMENTS (Continued)** |
| **COMMON STOCKS - 95.5% (Continued)** | **Shares** | **Value** |
| **Technology - 11.8% (Continued)** | **Technology - 11.8% (Continued)** | **Technology - 11.8% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Black Knight, Inc. <sup>(a)</sup> | &nbsp;&nbsp;340534 | &nbsp;&nbsp;$21027974 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;PTC, Inc. <sup>(a)</sup> | &nbsp;&nbsp;105431 | &nbsp;&nbsp;12655937 |
|  |  | &nbsp;&nbsp;73050398 |
| **Total Common Stocks** (Cost $540,776,876) | **Total Common Stocks** (Cost $540,776,876) | &nbsp;&nbsp;$592015735 |
| **MONEY MARKET FUNDS - 4.6%** | **Shares** | **Value** |
| First American Treasury Obligations Fund - Class Z, 4.16% <sup>(b)</sup> (Cost $28,237,539) | &nbsp;&nbsp;28237539 | &nbsp;&nbsp;$28237539 |
| **Total Investments at Value - 100.1%** (Cost $569,014,415) | **Total Investments at Value - 100.1%** (Cost $569,014,415) | &nbsp;&nbsp;$620253274 |
| **Liabilities in Excess of Other Assets - (0.1%)** | **Liabilities in Excess of Other Assets - (0.1%)** | &nbsp;&nbsp; (565744) |
| **Net Assets - 100.0%** | **Net Assets - 100.0%** | &nbsp;&nbsp;$619687530 |

---

<sup>(a)</sup> Non-income producing security. <br> <sup>(b)</sup> The rate shown is the 7-day effective yield as of December 31, 2022.

---

| | | |
|:---|:---|:---|
| **DAVENPORT SMALL CAP FOCUS FUND** | **DAVENPORT SMALL CAP FOCUS FUND** | **DAVENPORT SMALL CAP FOCUS FUND** |
| **SCHEDULE OF INVESTMENTS** | **SCHEDULE OF INVESTMENTS** | **SCHEDULE OF INVESTMENTS** |
| **December 31, 2022 (Unaudited)** | **December 31, 2022 (Unaudited)** | **December 31, 2022 (Unaudited)** |
| **COMMON STOCKS - 86.6%** | **Shares** | **Value** |
| **Communications - 6.1%** | **Communications - 6.1%** | **Communications - 6.1%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Liberty Latin America Ltd. - Class C <sup>(a)</sup> | &nbsp;&nbsp;2491909 | &nbsp;&nbsp;$18938509 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shenandoah Telecommunications Company | &nbsp;&nbsp;881656 | &nbsp;&nbsp;14000697 |
|  |  | &nbsp;&nbsp;32939206 |
| **Consumer Discretionary - 17.1%** | **Consumer Discretionary - 17.1%** | **Consumer Discretionary - 17.1%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cannae Holdings, Inc. <sup>(a)</sup> | &nbsp;&nbsp;1079369 | &nbsp;&nbsp;22288970 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;DraftKings Inc. - Class A <sup>(a)</sup> | &nbsp;&nbsp;1274372 | &nbsp;&nbsp;14515097 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Monarch Casino & Resort, Inc. <sup>(a)</sup> | &nbsp;&nbsp;572014 | &nbsp;&nbsp;43982156 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;OneSpaWorld Holdings Ltd. <sup>(a)</sup> | &nbsp;&nbsp;1231557 | &nbsp;&nbsp;11490427 |
|  |  | &nbsp;&nbsp;92276650 |
| **Consumer Staples - 7.4%** | **Consumer Staples - 7.4%** | **Consumer Staples - 7.4%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;J & J Snack Foods Corporation | &nbsp;&nbsp;164375 | &nbsp;&nbsp;24608581 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Seaboard Corporation | &nbsp;&nbsp;4024 | &nbsp;&nbsp;15191445 |
|  |  | &nbsp;&nbsp;39800026 |
| **Energy - 3.4%** | **Energy - 3.4%** | **Energy - 3.4%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Peyto Exploration & Development Corporation | &nbsp;&nbsp;1809254 | &nbsp;&nbsp;18563127 |
| **Financials - 13.4%** | **Financials - 13.4%** | **Financials - 13.4%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Diamond Hill Investment Group, Inc. | &nbsp;&nbsp;99404 | &nbsp;&nbsp;18391728 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Kinsale Capital Group, Inc. | &nbsp;&nbsp;75314 | &nbsp;&nbsp;19696117 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Live Oak Bancshares, Inc. | &nbsp;&nbsp;145905 | &nbsp;&nbsp;4406331 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Stewart Information Services Corporation | &nbsp;&nbsp;432961 | &nbsp;&nbsp;18500424 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;TowneBank | &nbsp;&nbsp;360677 | &nbsp;&nbsp;11123279 |
|  |  | &nbsp;&nbsp;72117879 |
| **Health Care - 4.5%** | **Health Care - 4.5%** | **Health Care - 4.5%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Perrigo Company plc | &nbsp;&nbsp;710235 | &nbsp;&nbsp;24211911 |
| **Industrials - 8.5%** | **Industrials - 8.5%** | **Industrials - 8.5%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Enovis Corporation <sup>(a)</sup> | &nbsp;&nbsp;299545 | &nbsp;&nbsp;16031649 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ESAB Corporation | &nbsp;&nbsp;252078 | &nbsp;&nbsp;11827500 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Evoqua Water Technologies Corporation <sup>(a)</sup> | &nbsp;&nbsp;458319 | &nbsp;&nbsp;18149432 |
|  |  | &nbsp;&nbsp;46008581 |
| **Materials - 4.8%** | **Materials - 4.8%** | **Materials - 4.8%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NewMarket Corporation | &nbsp;&nbsp;82681 | &nbsp;&nbsp;25722886 |
| **Real Estate - 9.3%** | **Real Estate - 9.3%** | **Real Estate - 9.3%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;FRP Holdings, Inc. <sup>(a)</sup> | &nbsp;&nbsp;127904 | &nbsp;&nbsp;6888909 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Janus International Group, Inc. <sup>(a)</sup> | &nbsp;&nbsp;2199750 | &nbsp;&nbsp;20941620 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Lamar Advertising Company - Class A | &nbsp;&nbsp;191321 | &nbsp;&nbsp;18060702 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Radius Global Infrastructure, Inc. - Class A <sup>(a)</sup> | &nbsp;&nbsp;337474 | &nbsp;&nbsp;3988943 |
|  |  | &nbsp;&nbsp;49880174 |

---

---

| | | |
|:---|:---|:---|
| **DAVENPORT SMALL CAP FOCUS FUND** | **DAVENPORT SMALL CAP FOCUS FUND** | **DAVENPORT SMALL CAP FOCUS FUND** |
| **SCHEDULE OF INVESTMENTS (Continued)** | **SCHEDULE OF INVESTMENTS (Continued)** | **SCHEDULE OF INVESTMENTS (Continued)** |
| **COMMON STOCKS - 86.6% (Continued)** | **Shares** | **Value** |
| **Technology - 12.1%** | **Technology - 12.1%** | **Technology - 12.1%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Alight, Inc. - Class A <sup>(a)</sup> | &nbsp;&nbsp;3437806 | &nbsp;&nbsp;$28740058 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Avid Technology, Inc. <sup>(a)</sup> | &nbsp;&nbsp;569571 | &nbsp;&nbsp;15144893 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Verra Mobility Corporation <sup>(a)</sup> | &nbsp;&nbsp;1536434 | &nbsp;&nbsp;21248882 |
|  |  | &nbsp;&nbsp;65133833 |
| **Total Common Stocks** (Cost $478,831,530) | **Total Common Stocks** (Cost $478,831,530) | &nbsp;&nbsp;$466654273 |
| **EXCHANGE-TRADED FUNDS - 3.4%** | **Shares** | **Value** |
| ALPS Medical Breakthroughs ETF <sup>(a)</sup> | &nbsp;&nbsp;600000 | &nbsp;&nbsp;$18228000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Cost $18,633,960) |  |  |
| **MONEY MARKET FUNDS - 10.1%** | **Shares** | **Value** |
| First American Treasury Obligations Fund - Class Z, 4.16% <sup>(b)</sup> (Cost $54,519,260) | &nbsp;&nbsp;54519260 | &nbsp;&nbsp;$54519260 |
| **Total Investments at Value - 100.1%** (Cost $551,984,750) | **Total Investments at Value - 100.1%** (Cost $551,984,750) | &nbsp;&nbsp;$539401533 |
| **Liabilities in Excess of Other Assets - (0.1%)** | **Liabilities in Excess of Other Assets - (0.1%)** | &nbsp;&nbsp; (240362) |
| **Net Assets - 100.0%** | **Net Assets - 100.0%** | &nbsp;&nbsp;$539161171 |

---

<sup>(a)</sup> Non-income producing security. <br> <sup>(b)</sup> The rate shown is the 7-day effective yield as of December 31, 2022.

---

| | | |
|:---|:---|:---|
| **DAVENPORT BALANCED INCOME FUND** | **DAVENPORT BALANCED INCOME FUND** | **DAVENPORT BALANCED INCOME FUND** |
| **SCHEDULE OF INVESTMENTS** | **SCHEDULE OF INVESTMENTS** | **SCHEDULE OF INVESTMENTS** |
| **December 31, 2022 (Unaudited)** | **December 31, 2022 (Unaudited)** | **December 31, 2022 (Unaudited)** |
| **COMMON STOCKS - 55.7%** | **Shares** | **Value** |
| **Communications - 2.8%** | **Communications - 2.8%** | **Communications - 2.8%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Alphabet, Inc. - Class A <sup>(a)</sup> | &nbsp;&nbsp;23040 | &nbsp;&nbsp;$2032819 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;AT&T, Inc. | &nbsp;&nbsp;50749 | &nbsp;&nbsp;934289 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Comcast Corporation - Class A | &nbsp;&nbsp;88029 | &nbsp;&nbsp;3078374 |
|  |  | &nbsp;&nbsp;6045482 |
| **Consumer Discretionary - 3.6%** | **Consumer Discretionary - 3.6%** | **Consumer Discretionary - 3.6%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cannae Holdings, Inc. <sup>(a)</sup> | &nbsp;&nbsp;117411 | &nbsp;&nbsp;2424537 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Lowe's Companies, Inc. | &nbsp;&nbsp;12587 | &nbsp;&nbsp;2507834 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;McDonald's Corporation | &nbsp;&nbsp;11056 | &nbsp;&nbsp;2913588 |
|  |  | &nbsp;&nbsp;7845959 |
| **Consumer Staples - 7.1%** | **Consumer Staples - 7.1%** | **Consumer Staples - 7.1%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bunge Ltd. | &nbsp;&nbsp;23009 | &nbsp;&nbsp;2295608 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Diageo plc - ADR | &nbsp;&nbsp;12545 | &nbsp;&nbsp;2235393 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ingredion, Inc. | &nbsp;&nbsp;13155 | &nbsp;&nbsp;1288269 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Kraft Heinz Company (The) | &nbsp;&nbsp;45515 | &nbsp;&nbsp;1852916 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Philip Morris International, Inc. | &nbsp;&nbsp;27471 | &nbsp;&nbsp;2780340 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sysco Corporation | &nbsp;&nbsp;23135 | &nbsp;&nbsp;1768671 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Target Corporation | &nbsp;&nbsp;10007 | &nbsp;&nbsp;1491443 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Walmart, Inc. | &nbsp;&nbsp;12557 | &nbsp;&nbsp;1780457 |
|  |  | &nbsp;&nbsp;15493097 |
| **Energy - 4.9%** | **Energy - 4.9%** | **Energy - 4.9%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Chevron Corporation | &nbsp;&nbsp;16932 | &nbsp;&nbsp;3039125 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Coterra Energy, Inc. | &nbsp;&nbsp;132019 | &nbsp;&nbsp;3243707 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Enbridge, Inc. | &nbsp;&nbsp;57275 | &nbsp;&nbsp;2239452 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Enterprise Products Partners, L.P. | &nbsp;&nbsp;87000 | &nbsp;&nbsp;2098440 |
|  |  | &nbsp;&nbsp;10620724 |
| **Financials - 13.5%** | **Financials - 13.5%** | **Financials - 13.5%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Berkshire Hathaway, Inc. - Class B <sup>(a)</sup> | &nbsp;&nbsp;13379 | &nbsp;&nbsp;4132773 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Brookfield Asset Management Ltd. - Class A <sup>(a)</sup> | &nbsp;&nbsp;61650 | &nbsp;&nbsp;1767506 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Brookfield Corporation | &nbsp;&nbsp;84137 | &nbsp;&nbsp;2646950 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Capital One Financial Corporation | &nbsp;&nbsp;16976 | &nbsp;&nbsp;1578089 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Citigroup, Inc. | &nbsp;&nbsp;27793 | &nbsp;&nbsp;1257077 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Diamond Hill Investment Group, Inc. | &nbsp;&nbsp;11715 | &nbsp;&nbsp;2167509 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fairfax Financial Holdings Ltd. | &nbsp;&nbsp;7238 | &nbsp;&nbsp;4300241 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fidelity National Financial, Inc. | &nbsp;&nbsp;46907 | &nbsp;&nbsp;1764641 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;JPMorgan Chase & Company | &nbsp;&nbsp;18345 | &nbsp;&nbsp;2460065 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Markel Corporation <sup>(a)</sup> | &nbsp;&nbsp;2366 | &nbsp;&nbsp;3117181 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Stewart Information Services Corporation | &nbsp;&nbsp;50417 | &nbsp;&nbsp;2154318 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Wells Fargo & Company | &nbsp;&nbsp;45275 | &nbsp;&nbsp;1869405 |
|  |  | &nbsp;&nbsp;29215755 |

---

---

| | | |
|:---|:---|:---|
| **DAVENPORT BALANCED INCOME FUND** | **DAVENPORT BALANCED INCOME FUND** | **DAVENPORT BALANCED INCOME FUND** |
| **SCHEDULE OF INVESTMENTS (Continued)** | **SCHEDULE OF INVESTMENTS (Continued)** | **SCHEDULE OF INVESTMENTS (Continued)** |
| **COMMON STOCKS - 55.7% (Continued)** | **Shares** | **Value** |
| **Health Care - 6.4%** | **Health Care - 6.4%** | **Health Care - 6.4%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Elevance Health, Inc. | &nbsp;&nbsp;4673 | &nbsp;&nbsp;$2397109 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Johnson & Johnson | &nbsp;&nbsp;27374 | &nbsp;&nbsp;4835617 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Medtronic plc | &nbsp;&nbsp;35449 | &nbsp;&nbsp;2755096 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Perrigo Company plc | &nbsp;&nbsp;116716 | &nbsp;&nbsp;3978849 |
|  |  | &nbsp;&nbsp;13966671 |
| **Industrials - 7.3%** | **Industrials - 7.3%** | **Industrials - 7.3%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3M Company | &nbsp;&nbsp;15092 | &nbsp;&nbsp;1809832 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Deere & Company | &nbsp;&nbsp;5099 | &nbsp;&nbsp;2186247 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;L3Harris Technologies, Inc. | &nbsp;&nbsp;8270 | &nbsp;&nbsp;1721897 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Norfolk Southern Corporation | &nbsp;&nbsp;9678 | &nbsp;&nbsp;2384853 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;TE Connectivity Ltd. | &nbsp;&nbsp;19630 | &nbsp;&nbsp;2253524 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;United Parcel Service, Inc. - Class B | &nbsp;&nbsp;14971 | &nbsp;&nbsp;2602559 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Watsco, Inc. | &nbsp;&nbsp;11245 | &nbsp;&nbsp;2804503 |
|  |  | &nbsp;&nbsp;15763415 |
| **Materials - 0.9%** | **Materials - 0.9%** | **Materials - 0.9%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NewMarket Corporation | &nbsp;&nbsp;6465 | &nbsp;&nbsp;2011326 |
| **Real Estate - 5.2%** | **Real Estate - 5.2%** | **Real Estate - 5.2%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Crown Castle, Inc. | &nbsp;&nbsp;16385 | &nbsp;&nbsp;2222461 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Digital Realty Trust, Inc. | &nbsp;&nbsp;13709 | &nbsp;&nbsp;1374601 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gaming and Leisure Properties, Inc. | &nbsp;&nbsp;41095 | &nbsp;&nbsp;2140639 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Lamar Advertising Company - Class A | &nbsp;&nbsp;32689 | &nbsp;&nbsp;3085842 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SL Green Realty Corporation | &nbsp;&nbsp;74437 | &nbsp;&nbsp;2510016 |
|  |  | &nbsp;&nbsp;11333559 |
| **Technology - 1.1%** | **Technology - 1.1%** | **Technology - 1.1%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;QUALCOMM, Inc. | &nbsp;&nbsp;21446 | &nbsp;&nbsp;2357773 |
| **Utilities - 2.9%** | **Utilities - 2.9%** | **Utilities - 2.9%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Brookfield Infrastructure Partners, L.P. | &nbsp;&nbsp;61867 | &nbsp;&nbsp;1917258 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Brookfield Renewable Partners, L.P. | &nbsp;&nbsp;76999 | &nbsp;&nbsp;1951155 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NextEra Energy, Inc. | &nbsp;&nbsp;28278 | &nbsp;&nbsp;2364041 |
|  |  | &nbsp;&nbsp;6232454 |
| **Total Common Stocks** (Cost $107,262,761) | **Total Common Stocks** (Cost $107,262,761) | &nbsp;&nbsp;$120886215 |
| **FIXED RATE CORPORATE BONDS - 28.8%** | **Par Value** | **Value** |
| **Communications - 1.1%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Walt Disney Company (The), 3.350%, due 03/24/2025 | &nbsp;&nbsp;$2505000 | &nbsp;&nbsp;$2427799 |

---

---

| | | |
|:---|:---|:---|
| **DAVENPORT BALANCED INCOME FUND** | **DAVENPORT BALANCED INCOME FUND** | **DAVENPORT BALANCED INCOME FUND** |
| **SCHEDULE OF INVESTMENTS (Continued)** | **SCHEDULE OF INVESTMENTS (Continued)** | **SCHEDULE OF INVESTMENTS (Continued)** |
| **FIXED RATE CORPORATE BONDS - 28.8% (Continued)** | **Par Value** | **Value** |
| **Consumer Discretionary - 2.7%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amazon.com, Inc., 1.000%, due 05/12/2026 | &nbsp;&nbsp;$3250000 | &nbsp;&nbsp;$2882009 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;General Motors Financial Company, Inc, 1.500%, due 06/10/2026 | &nbsp;&nbsp;3425000 | &nbsp;&nbsp;2978169 |
|  |  | &nbsp;&nbsp;5860178 |
| **Consumer Staples - 2.9%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Lowe's Companies, Inc., 4.400%, due 09/08/2025 | &nbsp;&nbsp;1525000 | &nbsp;&nbsp;1503416 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Walgreens Boots Alliance, Inc., 3.800%, due 11/18/2024 | &nbsp;&nbsp;2245000 | &nbsp;&nbsp;2188798 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Walmart, Inc., 1.050%, due 09/17/2026 | &nbsp;&nbsp;2835000 | &nbsp;&nbsp;2513668 |
|  |  | &nbsp;&nbsp;6205882 |
| **Energy - 2.8%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Boardwalk Pipelines, L.P., 4.450%, due 07/15/2027 | &nbsp;&nbsp;2200000 | &nbsp;&nbsp;2095484 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Halliburton Company, 3.800%, due 11/15/2025 | &nbsp;&nbsp;937000 | &nbsp;&nbsp;912212 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;MPLX, L.P., 4.125%, due 03/01/2027 | &nbsp;&nbsp;3250000 | &nbsp;&nbsp;3071931 |
|  |  | &nbsp;&nbsp;6079627 |
| **Financials - 3.8%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;American Express Company, 3.375%, due 05/03/2024 | &nbsp;&nbsp;2995000 | &nbsp;&nbsp;2935196 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;BlackRock, Inc., 3.500%, due 03/18/2024 | &nbsp;&nbsp;1150000 | &nbsp;&nbsp;1131576 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Brookfield Finance, Inc., 4.000%, due 04/01/2024 | &nbsp;&nbsp;2000000 | &nbsp;&nbsp;1969573 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Citigroup, Inc., 3.300%, due 04/27/2025 | &nbsp;&nbsp;2250000 | &nbsp;&nbsp;2180229 |
|  |  | &nbsp;&nbsp;8216574 |
| **Health Care - 5.8%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amgen, Inc., 2.200%, due 02/21/2027 | &nbsp;&nbsp;2400000 | &nbsp;&nbsp;2156326 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CVS Health Corporation, 3.000%, due 08/15/2026 | &nbsp;&nbsp;2600000 | &nbsp;&nbsp;2431563 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;McKesson Corporation, 1.300%, due 08/15/2026 | &nbsp;&nbsp;2490000 | &nbsp;&nbsp;2192600 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Stryker Corporation, 1.150%, due 06/15/2025 | &nbsp;&nbsp;2990000 | &nbsp;&nbsp;2736262 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Zoetis, Inc., 5.400%, due 11/14/2025 | &nbsp;&nbsp;2990000 | &nbsp;&nbsp;3052383 |
|  |  | &nbsp;&nbsp;12569134 |
| **Industrials - 1.5%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Canadian Pacific Railway Ltd., 1.350%, due 12/02/2024 | &nbsp;&nbsp;3490000 | &nbsp;&nbsp;3255505 |
| **Materials - 1.0%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sherwin-Williams Company (The), 3.450%, due 06/01/2027 | &nbsp;&nbsp;2400000 | &nbsp;&nbsp;2249135 |
| **Real Estate - 2.6%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;American Tower Corporation, 1.450%, due 09/15/2026 | &nbsp;&nbsp;2990000 | &nbsp;&nbsp;2612258 |

---

---

| | | |
|:---|:---|:---|
| **DAVENPORT BALANCED INCOME FUND** | **DAVENPORT BALANCED INCOME FUND** | **DAVENPORT BALANCED INCOME FUND** |
| **SCHEDULE OF INVESTMENTS (Continued)** | **SCHEDULE OF INVESTMENTS (Continued)** | **SCHEDULE OF INVESTMENTS (Continued)** |
| **FIXED RATE CORPORATE BONDS - 28.8% (Continued)** | **Par Value** | **Value** |
| **Real Estate - 2.6% (Continued)** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Public Storage, 1.500%, due 11/09/2026 | &nbsp;&nbsp;$3490000 | &nbsp;&nbsp;$3102661 |
|  |  | &nbsp;&nbsp;5714919 |
| **Technology - 3.5%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fiserv, Inc., 3.200%, due 07/01/2026 | &nbsp;&nbsp;2325000 | &nbsp;&nbsp;2178435 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Oracle Corporation, 5.800%, due 11/10/2025 | &nbsp;&nbsp;2990000 | &nbsp;&nbsp;3058284 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;PayPal Holdings, Inc., 2.400%, due 10/01/2024 | &nbsp;&nbsp;2400000 | &nbsp;&nbsp;2301163 |
|  |  | &nbsp;&nbsp;7537882 |
| **Utilities - 1.1%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Dominion Energy, Inc., 1.450%, due 04/15/2026 | &nbsp;&nbsp;2740000 | &nbsp;&nbsp;2442301 |
| **Total Fixed Rate Corporate Bonds** (Cost $67,506,214) | **Total Fixed Rate Corporate Bonds** (Cost $67,506,214) | &nbsp;&nbsp;$62558936 |
| **VARIABLE RATE CORPORATE BONDS <sup>(b)</sup> - 4.5%** | **Par Value** | **Value** |
| **Consumer Discretionary - 0.6%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Starbucks Corporation, 3.157%, (SOFR + 42), due 02/14/2024 | &nbsp;&nbsp;$1295000 | &nbsp;&nbsp;$1287615 |
| **Financials - 3.0%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Charles Schwab Corporation (The), 3.837%, (SOFR + 50), due 03/18/2024 | &nbsp;&nbsp;3450000 | &nbsp;&nbsp;3439037 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Morgan Stanley, 5.023%, (SOFR + 116.5), due 04/17/2025 | &nbsp;&nbsp;2995000 | &nbsp;&nbsp;2982348 |
|  |  | &nbsp;&nbsp;6421385 |
| **Industrials - 0.9%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;John Deere Capital Corporation, 3.636%, (SOFR + 56), due 03/07/2025 | &nbsp;&nbsp;1990000 | &nbsp;&nbsp;1974701 |
| **Total Variable Rate Corporate Bonds** (Cost $9,738,644) | **Total Variable Rate Corporate Bonds** (Cost $9,738,644) | &nbsp;&nbsp;$9683701 |
| **U.S. TREASURY OBLIGATIONS- 8.9%** | **Par Value** | **Value** |
| **U.S. Treasury Bills - 3.5% <sup>(c)</sup>** | **U.S. Treasury Bills - 3.5% <sup>(c)</sup>** | **U.S. Treasury Bills - 3.5% <sup>(c)</sup>** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.655%, due 06/15/2023 | &nbsp;&nbsp;$1795000 | &nbsp;&nbsp;$1758815 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.259%, due 08/10/2023 | &nbsp;&nbsp;3990000 | &nbsp;&nbsp;3882380 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.046%, due 09/07/2023 | &nbsp;&nbsp;2000000 | &nbsp;&nbsp;1939931 |
|  |  | &nbsp;&nbsp;7581126 |

---

---

| | | |
|:---|:---|:---|
| **DAVENPORT BALANCED INCOME FUND** | **DAVENPORT BALANCED INCOME FUND** | **DAVENPORT BALANCED INCOME FUND** |
| **SCHEDULE OF INVESTMENTS (Continued)** | **SCHEDULE OF INVESTMENTS (Continued)** | **SCHEDULE OF INVESTMENTS (Continued)** |
| **U.S. TREASURY OBLIGATIONS- 8.9% (Continued)** | **Par Value** | **Value** |
| **U.S. Treasury Notes - 5.4%** | **U.S. Treasury Notes - 5.4%** | **U.S. Treasury Notes - 5.4%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.383%, due 01/31/2024 <sup>(b)</sup> | &nbsp;&nbsp;$990000 | &nbsp;&nbsp;$990010 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.500%, due 02/29/2024 | &nbsp;&nbsp;1995000 | &nbsp;&nbsp;1923694 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.250%, due 06/15/2024 | &nbsp;&nbsp;4500000 | &nbsp;&nbsp;4225078 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.750%, due 06/30/2025 | &nbsp;&nbsp;4810000 | &nbsp;&nbsp;4637141 |
|  |  | &nbsp;&nbsp;11775923 |
| **Total U.S. Treasury Obligations** (Cost $19,887,826) | **Total U.S. Treasury Obligations** (Cost $19,887,826) | &nbsp;&nbsp;$19357049 |
| **MONEY MARKET FUNDS - 2.0%** | **Shares** | **Value** |
| First American Treasury Obligations Fund - Class Z, 4.16% <sup>(d)</sup> (Cost $4,366,031) | &nbsp;&nbsp;4366031 | &nbsp;&nbsp;$4366031 |
| **Total Investments at Value - 99.9%** (Cost $208,761,476) | **Total Investments at Value - 99.9%** (Cost $208,761,476) | &nbsp;&nbsp;$216851932 |
| **Other Assets in Excess of Liabilities - 0.1%** | **Other Assets in Excess of Liabilities - 0.1%** | &nbsp;&nbsp;282130 |
| **Net Assets - 100.0%** | **Net Assets - 100.0%** | &nbsp;&nbsp;$217134062 |

---

ADR - American Depositary Receipt. <br> SOFR - Secured Overnight Financing Rate.

<sup>(a)</sup> Non-income producing security.

<sup>(b)</sup> Variable rate security. Interest rate resets periodically. The rate shown is the effective interest rate as of December 31, 2022. The reference rate and spread (in basis points) are indicated parenthetically. Certain variable rate securities are not based on a published rate and spread but are determined by the issuer or agent and may be based on current market conditions. These securities, therefore, do not indicate a reference rate and spread.

<sup>(c)</sup> The rate shown is the annualized yield at the time of purchase.

<sup>(d)</sup> The rate shown is the 7-day effective yield as of December 31, 2022.

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** Williamsburg Investment Trust

- **b. Investment Company Act file number:** 811-05685

- **c. CIK number of Registrant:** 0000842512

- **d. LEI of Registrant:** 549300K2N6TCPDPSAZ53

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 225 Pictoria Drive

  - **City:** Cincinnati

  - **State:** OH

  - **Foreign country:** US

  - **Zip / Postal Code:** 45246

  - **Telephone number:** 513-587-3400

**Item A.2. Information about the Series.**

- **a. Name of Series:** DAVENPORT BALANCED INCOME FUND

- **b. EDGAR series identifier (if any):** S000052150

- **c. LEI of Series:** 549300P3ZR7G5JBKS140

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2023-03-31

- **b. Date as of which information is reported:** 2022-12-31

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $217817864.30

**Total Liabilities:** $683802.23

**Net Assets:** $217134062.07

**Cash Not Reported:** $52932.09

**Currency Risk Metrics (dv01):**

- 

**Credit Spread Risk - Investment Grade (dv01):**

- **3-Month:** 0.00000000 | **1-Year:** 7348.89612900 | **5-Year:** 9403.29039400 | **10-Year:** 0.00000000 | **30-Year:** 0.00000000

**Credit Spread Risk - Non-Investment Grade (dv01):**

- **3-Month:** 0.00000000 | **1-Year:** 0.00000000 | **5-Year:** 0.00000000 | **10-Year:** 0.00000000 | **30-Year:** 0.00000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000164143 | 4.38%                | 3.02%                | -2.94%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-104150.47              | $9154872.10                                |
| Month 2  | $-887936.01              | $6883115.93                                |
| Month 3  | $-502908.46              | $-6627041.43                               |

### Schedule of Portfolio Investments

| Name                                     | Title                                                           | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Starbucks Corporation                    | Starbucks Corporation FLOAT, Due 02/14/2024                     | CUSIP: 855244BB4<br>LEI: OQSJ1DU9TAOC51A47K68 | Long             | DBT              | CORP              | US        |   1295000 | PA      | $1287614.55   | 0.59%             | 2024-02-14      | Floating      | 1.77%                 | No            |                  2 | On Loan: No      |
| Diageo PLC                               | Diageo plc ADR                                                  | CUSIP: 25243Q205<br>LEI: 213800ZVIELEA55JMJ32 | Long             | EC               | CORP              | US        |     12545 | NS      | $2235393.55   | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Cannae Holdings Incorporation            | Cannae Holdings, Inc.                                           | CUSIP: 13765N107<br>LEI: 549300OGRF1ICI7D2V77 | Long             | EC               | CORP              | US        |    117411 | NS      | $2424537.15   | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| QUALCOMM Inc.                            | QUALCOMM, Inc.                                                  | CUSIP: 747525103<br>LEI: H1J8DDZKZP6H7RWC0H53 | Long             | EC               | CORP              | US        |     21446 | NS      | $2357773.24   | 1.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Lamar Advertising Company                | Lamar Advertising Company Class A                               | CUSIP: 512816109<br>LEI: 529900Y8WW4MKVPTB543 | Long             | EC               | CORP              | US        |     32689 | NS      | $3085841.60   | 1.42%             |  |  |  | No            |                  1 | On Loan: No      |
| The Sherwin-Williams Company             | Sherwin-Williams Company (The) 3.45%, due 06/01/2027            | CUSIP: 824348AW6<br>LEI: Z15BMIOX8DDH0X2OBP21 | Long             | DBT              | CORP              | US        |   2400000 | PA      | $2249134.56   | 1.04%             | 2027-06-01      | Fixed         | 3.45%                 | No            |                  2 | On Loan: No      |
| Gaming and Leisure Properties Inc        | Gaming and Leisure Properties, Inc. REIT                        | CUSIP: 36467J108<br>LEI: 5493006GWRDBCZYWTM57 | Long             | EC               | CORP              | US        |     41095 | NS      | $2140638.55   | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Crown Castle Inc.                        | Crown Castle International Corporation REIT                     | CUSIP: 22822V101<br>LEI: 54930012H97VSM0I2R19 | Long             | EC               | CORP              | US        |     16385 | NS      | $2222461.40   | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Wells Fargo & Company                    | Wells Fargo & Company                                           | CUSIP: 949746101<br>LEI: PBLD0EJDB5FWOLXP3B76 | Long             | EC               | CORP              | US        |     45275 | NS      | $1869404.75   | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| McDonald's Corporation                   | McDonald's Corporation                                          | CUSIP: 580135101<br>LEI: UE2136O97NLB5BYP9H04 | Long             | EC               | CORP              | US        |     11056 | NS      | $2913587.68   | 1.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Public Storage                           | Public Storage 1.50% Due 11/09/2026                             | CUSIP: 74460DAG4<br>LEI: 549300LMZF40TKJ6DM64 | Long             | DBT              | CORP              | US        |   3490000 | PA      | $3102661.27   | 1.43%             | 2026-11-09      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| Coterra Energy Inc                       | Coterra Energy, Inc.                                            | CUSIP: 127097103<br>LEI: FCNMH6O7VWU7LHXMK351 | Long             | EC               | CORP              | US        |    132019 | NS      | $3243706.83   | 1.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Diamond Hill Investment Group Inc.       | Diamond Hill Investment Group, Inc.                             | CUSIP: 25264R207<br>LEI: 549300AQ6779A0B7VZ57 | Long             | EC               | CORP              | US        |     11715 | NS      | $2167509.30   | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Capital One Financial Corporation        | Capital One Financial Corporation                               | CUSIP: 14040H105<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | EC               | CORP              | US        |     16976 | NS      | $1578088.96   | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Chevron Corporation                      | Chevron Corporation                                             | CUSIP: 166764100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     16932 | NS      | $3039124.68   | 1.40%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMorgan Chase & Co.                     | JPMorgan Chase & Company                                        | CUSIP: 46625H100<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | EC               | CORP              | US        |     18345 | NS      | $2460064.50   | 1.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Citigroup Inc.                           | Citigroup, Inc. 3.30%, Due 04/27/2025                           | CUSIP: 172967JP7<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | DBT              | CORP              | US        |   2250000 | PA      | $2180229.44   | 1.00%             | 2025-04-27      | Fixed         | 3.30%                 | No            |                  2 | On Loan: No      |
| Fiserv Inc.                              | FHLMC Multifamily Structured Plan Floating Rate, DUE 12/27/2027 | CUSIP: 337738AT5<br>LEI: GI7UBEJLXYLGR2C7GV83 | Long             | DBT              | CORP              | US        |   2325000 | PA      | $2178435.70   | 1.00%             | 2026-07-01      | Fixed         | 3.20%                 | No            |                  2 | On Loan: No      |
| Nextera Energy Inc                       | NextEra Energy, Inc.                                            | CUSIP: 65339F101<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     28278 | NS      | $2364040.80   | 1.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Medtronic PLC                            | Medtronic plc                                                   | CUSIP: G5960L103<br>LEI: 549300GX3ZBSQWUXY261 | Long             | EC               | CORP              | US        |     35449 | NS      | $2755096.28   | 1.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Walmart Inc                              | Walmart Inc. 1.05% Due 09/17/2026                               | CUSIP: 931142ER0<br>LEI: Y87794H0US1R65VBXU25 | Long             | DBT              | CORP              | US        |   2835000 | PA      | $2513668.51   | 1.16%             | 2026-09-17      | Fixed         | 1.05%                 | No            |                  2 | On Loan: No      |
| Amgen Inc.                               | Amgen, Inc. 2.20%, due 02/21/2027                               | CUSIP: 031162CT5<br>LEI: 62QBXGPJ34PQ72Z12S66 | Long             | DBT              | CORP              | US        |   2400000 | PA      | $2156325.77   | 0.99%             | 2027-02-21      | Fixed         | 2.20%                 | No            |                  2 | On Loan: No      |
| Deere & Company                          | Deere & Company                                                 | CUSIP: 244199105<br>LEI: PWFTNG3EI0Y73OXWDH08 | Long             | EC               | CORP              | US        |      5099 | NS      | $2186247.24   | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Fairfax Financial Holdings Limited       | Fairfax Financial Holdings Ltd. (Canada)                        | CUSIP: 303901102<br>LEI: GLS7OQD0WOEDI8YAP031 | Long             | EC               | CORP              | CA        |      7238 | NS      | $4300240.56   | 1.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Elevance Health Inc.                     | Elevance Health Incorporated                                    | CUSIP: 036752103<br>LEI: 8MYN82XMYQH89CTMTH67 | Long             | EC               | CORP              | US        |      4673 | NS      | $2397108.81   | 1.10%             |  |  |  | No            |                  1 | On Loan: No      |
| TE Connectivity Ltd                      | TE Connectivity Ltd.                                            | CUSIP: H84989104<br>LEI: 894500ZRIX9K13RHXR17 | Long             | EC               | CORP              | US        |     19630 | NS      | $2253524.00   | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| McKesson Corporation                     | Mckesson Corporation 1.30% Due 08/15/2026                       | CUSIP: 581557BR5<br>LEI: 549300WZWOM80UCFSF54 | Long             | DBT              | CORP              | US        |   2490000 | PA      | $2192600.60   | 1.01%             | 2026-08-15      | Fixed         | 1.30%                 | No            |                  2 | On Loan: No      |
| United States Treasury Notes             | U.S. Treasury Notes 2.75%, due 06/30/2025                       | CUSIP: 912828XZ8<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   4810000 | PA      | $4637140.63   | 2.14%             | 2025-06-30      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| General Motors Financial Company  Inc    | General Motors Financial Company, Inc 1.50% Due 06/10/2026      | CUSIP: 37045XDK9<br>LEI: 5493008B6JBRUJ90QL97 | Long             | DBT              | CORP              | US        |   3425000 | PA      | $2978168.85   | 1.37%             | 2026-06-10      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| CVS Health Corp                          | CVS Health Corporation 3.00%, due 08/15/2026                    | CUSIP: 126650DF4<br>LEI: 549300EJG376EN5NQE29 | Long             | DBT              | CORP              | US        |   2600000 | PA      | $2431563.52   | 1.12%             | 2026-08-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Walgreens Boots Alliance, Inc.           | WALGREENS BOOTS ALLIANCE, INC. 3.80%, DUE 11/18/2024            | CUSIP: 931427AH1<br>LEI: 549300RPTUOIXG4LIH86 | Long             | DBT              | CORP              | US        |   2245000 | PA      | $2188797.79   | 1.01%             | 2024-11-18      | Fixed         | 3.80%                 | No            |                  2 | On Loan: No      |
| Brookfield Corp.                         | Brookfield Corporation                                          | CUSIP: 11271J107<br>LEI: C6J3FGIWG6MBDGTE8F80 | Long             | EC               | CORP              | CA        |     84137 | NS      | $2646950.02   | 1.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Dominion Energy Inc                      | Dominion Energy Inc 1.45%, Due 04/15/2026                       | CUSIP: 25746UDJ5<br>LEI: ILUL7B6Z54MRYCF6H308 | Long             | DBT              | CORP              | US        |   2740000 | PA      | $2442301.22   | 1.12%             | 2026-04-15      | Fixed         | 1.45%                 | No            |                  2 | On Loan: No      |
| United States Treasury Bills             | U.S. Treasury Bill 0.000%, Due 09/07/2023                       | CUSIP: 912796YH6<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   2000000 | PA      | $1939930.98   | 0.89%             | 2023-09-07      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| L3 Harris Technologies Inc               | L3Harris Technologies, Inc.                                     | CUSIP: 502431109<br>LEI: 549300UTE50ZMDBG8A20 | Long             | EC               | CORP              | US        |      8270 | NS      | $1721896.70   | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| 3M Company                               | 3M Company                                                      | CUSIP: 88579Y101<br>LEI: LUZQVYP4VS22CLWDAR65 | Long             | EC               | CORP              | US        |     15092 | NS      | $1809832.64   | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Amazon.com, Inc.                         | Amazon.com, Inc. 1.00% Due 05/12/2026                           | CUSIP: 023135BX3<br>LEI: ZXTILKJKG63JELOEG630 | Long             | DBT              | CORP              | US        |   3250000 | PA      | $2882009.07   | 1.33%             | 2026-05-12      | Fixed         | 1.00%                 | No            |                  2 | On Loan: No      |
| MPLX LP                                  | MPLX, L.P. 4.125%, Due 03/01/2027                               | CUSIP: 55336VAK6<br>LEI: 5493000CZJ19CK4P3G36 | Long             | DBT              | CORP              | US        |   3250000 | PA      | $3071931.17   | 1.41%             | 2027-03-01      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| John Deere Capital Corporation           | John Deere Capital Corporation FLOAT, Due 03/07/2025            | CUSIP: 24422EWC9<br>LEI: E0KSF7PFQ210NWI8Z391 | Long             | DBT              | CORP              | US        |   1990000 | PA      | $1974700.84   | 0.91%             | 2025-03-07      | Floating      | 3.64%                 | No            |                  2 | On Loan: No      |
| American Express Company                 | American Express Company 3.375%, Due 05/03/2024                 | CUSIP: 025816CV9<br>LEI: R4PP93JZOLY261QX3811 | Long             | DBT              | CORP              | US        |   2995000 | PA      | $2935196.08   | 1.35%             | 2024-05-03      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| United Parcel Service, Inc.              | United Parcel Service, Inc. Class B                             | CUSIP: 911312106<br>LEI: D01LMJZU09ULLNCY6Z23 | Long             | EC               | CORP              | US        |     14971 | NS      | $2602558.64   | 1.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Enbridge Incorporation                   | Enbridge, Inc.                                                  | CUSIP: 29250N105<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | EC               | CORP              | CA        |     57275 | NS      | $2239452.50   | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Sl Green Realty Corp                     | SL Green Realty Corporation REIT                                | CUSIP: 78440X887<br>LEI: 549300VQZPJU97H3GT17 | Long             | EC               | CORP              | US        |     74437 | NS      | $2510015.64   | 1.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Perrigo Company PLC                      | Perrigo Company plc                                             | CUSIP: G97822103<br>LEI: 549300IFOQS6R1QLY196 | Long             | EC               | CORP              | US        |    116716 | NS      | $3978848.44   | 1.83%             |  |  |  | No            |                  1 | On Loan: No      |
| United States Treasury Notes             | U.S. Treasury Notes 1.5%, Due 02/29/2024                        | CUSIP: 91282CEA5<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1995000 | PA      | $1923694.33   | 0.89%             | 2024-02-29      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| Watsco Inc                               | Watsco, Inc.                                                    | CUSIP: 942622200<br>LEI: 549300F1Y3LN5BX5WN75 | Long             | EC               | CORP              | US        |     11245 | NS      | $2804503.00   | 1.29%             |  |  |  | No            |                  1 | On Loan: No      |
| United States Treasury Notes             | U.S. Treasury Notes 0.25%, Due 06/15/2024                       | CUSIP: 91282CCG4<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   4500000 | PA      | $4225078.13   | 1.95%             | 2024-06-15      | Fixed         | 0.25%                 | No            |                  2 | On Loan: No      |
| Berkshire Hathaway Inc.                  | Berkshire Hathaway, Inc. Class B                                | CUSIP: 084670702<br>LEI: 5493000C01ZX7D35SD85 | Long             | EC               | CORP              | US        |     13379 | NS      | $4132773.10   | 1.90%             |  |  |  | No            |                  1 | On Loan: No      |
| Johnson & Johnson                        | Johnson & Johnson                                               | CUSIP: 478160104<br>LEI: 549300G0CFPGEF6X2043 | Long             | EC               | CORP              | US        |     27374 | NS      | $4835617.10   | 2.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Philip Morris International Inc.         | Philip Morris International, Inc.                               | CUSIP: 718172109<br>LEI: HL3H1H2BGXWVG3BSWR90 | Long             | EC               | CORP              | US        |     27471 | NS      | $2780339.91   | 1.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Citigroup Inc.                           | Citigroup, Inc.                                                 | CUSIP: 172967424<br>LEI: 6SHGI4ZSSLCXXQSBB395 | Long             | EC               | CORP              | US        |     27793 | NS      | $1257077.39   | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Bunge Limited                            | Bunge Ltd.                                                      | CUSIP: G16962105<br>LEI: 5493007M0RIN8HY3MM77 | Long             | EC               | CORP              | US        |     23009 | NS      | $2295607.93   | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Paypal Holdings Incorporation            | PayPal Holdings, Inc. 2.40%, due 10/01/2024                     | CUSIP: 70450YAC7<br>LEI: 5493005X2GO78EFZ3E94 | Long             | DBT              | CORP              | US        |   2400000 | PA      | $2301162.74   | 1.06%             | 2024-10-01      | Fixed         | 2.40%                 | No            |                  2 | On Loan: No      |
| Brookfield Renewable Partners L P        | Brookfield Renewable Partners L.P.                              | CUSIP: G16258108<br>LEI: VA8DFMRI2GY8Y7V79H93 | Long             | EC               | CORP              | CA        |     76999 | NS      | $1951154.66   | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| Halliburton Company                      | Halliburton Company 3.80%, due 11/15/2025                       | CUSIP: 406216BG5<br>LEI: ENYF8GB5SMQZ25S06U51 | Long             | DBT              | CORP              | US        |    937000 | PA      | $912211.51    | 0.42%             | 2025-11-15      | Fixed         | 3.80%                 | No            |                  2 | On Loan: No      |
| Brookfield Asset Management Ltd          | Brookfield Asset Management Ltd.                                | CUSIP: 113004105<br>LEI: N/A                  | Long             | EC               | CORP              | CA        |     61650 | NS      | $1767505.50   | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Enterprise Products Partners L.P.        | Enterprise Products Partners L.P.                               | CUSIP: 293792107<br>LEI: K4CDIF4M54DJZ6TB4Q48 | Long             | EC               | CORP              | US        |     87000 | NS      | $2098440.00   | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Stewart Information Services Corporation | Stewart Information Services Corporation                        | CUSIP: 860372101<br>LEI: 529900TV1XI0PLKENU10 | Long             | EC               | CORP              | US        |     50417 | NS      | $2154318.41   | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| United States Treasury Notes             | US Treasury Note Floater Due 01/31/2024                         | CUSIP: 91282CDU2<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |    990000 | PA      | $990009.91    | 0.46%             | 2024-01-31      | Floating      | 4.38%                 | No            |                  2 | On Loan: No      |
| Morgan Stanley                           | Morgan Stanley FLOAT, Due 04/17/2025                            | CUSIP: 61747YEP6<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | DBT              | CORP              | US        |   2995000 | PA      | $2982348.10   | 1.37%             | 2025-04-17      | Floating      | 3.57%                 | No            |                  2 | On Loan: No      |
| Fidelity National Financial, Inc.        | Fidelity National Financial, Inc.                               | CUSIP: 31620R303<br>LEI: 549300CAZYIH39SYQ287 | Long             | EC               | CORP              | US        |     46907 | NS      | $1764641.34   | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Markel Corporation                       | Markel Corporation                                              | CUSIP: 570535104<br>LEI: 549300SCNO12JLWIK605 | Long             | EC               | CORP              | US        |      2366 | NS      | $3117181.34   | 1.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Brookfield Infrastructure Partners LP    | Brookfield Infrastructure Partners, L.P.                        | CUSIP: G16252101<br>LEI: 549300WEH5R2OODI7Y90 | Long             | EC               | CORP              | US        |     61867 | NS      | $1917258.33   | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Norfolk Southern Corporation             | Norfolk Southern Corporation                                    | CUSIP: 655844108<br>LEI: 54930036C8MWP850MI84 | Long             | EC               | CORP              | US        |      9678 | NS      | $2384852.76   | 1.10%             |  |  |  | No            |                  1 | On Loan: No      |
| United States Treasury Bills             | U.S. Treasury Bill 0.00%, Due 08/10/2023                        | CUSIP: 912796XY0<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   3990000 | PA      | $3882379.76   | 1.79%             | 2023-08-10      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Zoetis Inc.                              | Zoetis, Inc. 5.40%, Due 11/14/2025                              | CUSIP: 98978VAU7<br>LEI: 549300HD9Q1LOC9KLJ48 | Long             | DBT              | CORP              | US        |   2990000 | PA      | $3052382.70   | 1.41%             | 2025-11-14      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| Boardwalk Pipelines LP                   | Boardwalk Pipelines, L.P. 4.45%, Due 07/15/2027                 | CUSIP: 096630AF5<br>LEI: 549300W6AQ2GHHCGL606 | Long             | DBT              | CORP              | US        |   2200000 | PA      | $2095484.07   | 0.97%             | 2027-07-15      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| Newmarket Corporation                    | NewMarket Corporation                                           | CUSIP: 651587107<br>LEI: 54930082CG88ERDREQ47 | Long             | EC               | CORP              | US        |      6465 | NS      | $2011326.15   | 0.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Walt Disney Company                      | Walt Disney Company (The) 3.350%, DUE 03/24/2025                | CUSIP: 254687FN1<br>LEI: 549300GZKULIZ0WOW665 | Long             | DBT              | CORP              | US        |   2505000 | PA      | $2427798.56   | 1.12%             | 2025-03-24      | Fixed         | 3.35%                 | No            |                  2 | On Loan: No      |
| FIRST AMERN FDS INC                      | First American Treasury Obligations Fund Class Z                | CUSIP: 31846V542<br>LEI: 549300J5J5SJCZ9IA369 | Long             | STIV             | RF                | US        |   4366031 | PA      | $4366030.94   | 2.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Comcast Corporation                      | Comcast Corporation Class A                                     | CUSIP: 20030N101<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | EC               | CORP              | US        |     88029 | NS      | $3078374.13   | 1.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Sysco Corporation                        | Sysco Corporation                                               | CUSIP: 871829107<br>LEI: 5RGWIFLMGH3YS7KWI652 | Long             | EC               | CORP              | US        |     23135 | NS      | $1768670.75   | 0.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Target Corporation                       | Target Corporation                                              | CUSIP: 87612E106<br>LEI: 8WDDFXB5T1Z6J0XC1L66 | Long             | EC               | CORP              | US        |     10007 | NS      | $1491443.28   | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Oracle Corporation                       | ORACLE 5.8% due 11/10/2025                                      | CUSIP: 68389XCF0<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | DBT              | CORP              | US        |   2990000 | PA      | $3058283.89   | 1.41%             | 2025-11-10      | Fixed         | 5.80%                 | No            |                  2 | On Loan: No      |
| Alphabet Inc.                            | Alphabet, Inc. Class A                                          | CUSIP: 02079K305<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |     23040 | NS      | $2032819.20   | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Brookfield Finance LLC                   | Brookfield Finance, Inc. 4.0%, Due 04/01/2024                   | CUSIP: 11271RAA7<br>LEI: 549300E643C5WZF8BL44 | Long             | DBT              | CORP              | US        |   2000000 | PA      | $1969572.62   | 0.91%             | 2024-04-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| BlackRock, Inc.                          | BlackRock, Inc. 3.50%, Due 03/18/2024                           | CUSIP: 09247XAL5<br>LEI: 549300LRIF3NWCU26A80 | Long             | DBT              | CORP              | US        |   1150000 | PA      | $1131576.05   | 0.52%             | 2024-03-18      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Lowes Companies, Inc.                    | LOWE'S COMPANIES INC 4.400%, Due 09/08/2025                     | CUSIP: 548661EK9<br>LEI: WAFCR4OKGSC504WU3E95 | Long             | DBT              | CORP              | US        |   1525000 | PA      | $1503416.10   | 0.69%             | 2025-09-08      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| Walmart Inc                              | Walmart, Inc.                                                   | CUSIP: 931142103<br>LEI: Y87794H0US1R65VBXU25 | Long             | EC               | CORP              | US        |     12557 | NS      | $1780457.03   | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Digital Realty Trust Inc                 | Digital Realty Trust, Inc. REIT                                 | CUSIP: 253868103<br>LEI: 549300HKCZ31D08NEI41 | Long             | EC               | CORP              | US        |     13709 | NS      | $1374601.43   | 0.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Lowes Companies, Inc.                    | Lowe's Companies, Inc.                                          | CUSIP: 548661107<br>LEI: WAFCR4OKGSC504WU3E95 | Long             | EC               | CORP              | US        |     12587 | NS      | $2507833.88   | 1.15%             |  |  |  | No            |                  1 | On Loan: No      |
| United States Treasury Bills             | U.S. Treasury Bill 0.000%, Due 06/15/2023                       | CUSIP: 912796X53<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   1795000 | PA      | $1758814.95   | 0.81%             | 2023-06-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Stryker Corporation                      | Styker Corporation 1.15% Due 06/15/2025                         | CUSIP: 863667BA8<br>LEI: 5493002F0SC4JTBU5137 | Long             | DBT              | CORP              | US        |   2990000 | PA      | $2736261.96   | 1.26%             | 2025-06-15      | Fixed         | 1.15%                 | No            |                  2 | On Loan: No      |
| The Kraft Heinz Company                  | Kraft Heinz Company (The)                                       | CUSIP: 500754106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     45515 | NS      | $1852915.65   | 0.85%             |  |  |  | No            |                  1 | On Loan: No      |
| American Tower Corporation               | American Tower Corporation 1.45%, Due 09/15/2026                | CUSIP: 03027XBR0<br>LEI: 5493006ORUSIL88JOE18 | Long             | DBT              | CORP              | US        |   2990000 | PA      | $2612257.90   | 1.20%             | 2026-09-15      | Fixed         | 1.45%                 | No            |                  2 | On Loan: No      |
| The Charles Schwab Corporation           | Charles Schwab Corporation FLOAT, Due 03/18/2024                | CUSIP: 808513BM6<br>LEI: 549300VSGCJ7E698NM85 | Long             | DBT              | CORP              | US        |   3450000 | PA      | $3439037.25   | 1.58%             | 2024-03-18      | Floating      | 2.43%                 | No            |                  2 | On Loan: No      |
| AT&T Inc                                 | AT&T, Inc.                                                      | CUSIP: 00206R102<br>LEI: 549300Z40J86GGSTL398 | Long             | EC               | CORP              | US        |     50749 | NS      | $934289.09    | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Ingredion Incorporated                   | Ingredion, Inc.                                                 | CUSIP: 457187102<br>LEI: PKSTQ48QDN0XSVS7YK88 | Long             | EC               | CORP              | US        |     13155 | NS      | $1288269.15   | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Canadian Pacific Railway Company         | CANADIAN PACIFIC RAILWAY 1.350% Due 12-02-24                    | CUSIP: 13645RBD5<br>LEI: 54930036474DURYNB481 | Long             | DBT              | CORP              | US        |   3490000 | PA      | $3255504.60   | 1.50%             | 2024-12-02      | Fixed         | 1.35%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2023-01-23

**Name of Applicant:** Davenport Balanced Income Fund

**Signature:** Jennifer L. Leamer

**Name of Signer:** Jennifer L. Leamer

**Title:** SVP, Fund Accounting