# EDGAR Filing Document

**Accession Number:** 0000842512
**File Stem:** 0001752724-25-191850
**Filing Date:** 2025-8
**Character Count:** 61631
**Document Hash:** a015513a2437e331f1c5791de4245aa7
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-191850.hdr.sgml**: 20250819

**ACCESSION NUMBER**: 0001752724-25-191850

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250819

**DATE AS OF CHANGE**: 20250819

**PERIOD START**: 20260331

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** WILLIAMSBURG INVESTMENT TRUST
- **CENTRAL INDEX KEY:** 0000842512

**ORGANIZATION NAME:**
- **EIN:** 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:** 251229864

**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 Equity Opportunities Fund (Series ID: S000030555)

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

## Nport-Ex

---

| | | |
|:---|:---|:---|
| **DAVENPORT CORE LEADERS FUND** | **DAVENPORT CORE LEADERS FUND** | **DAVENPORT CORE LEADERS FUND** |
| **SCHEDULE OF INVESTMENTS** | **SCHEDULE OF INVESTMENTS** | **SCHEDULE OF INVESTMENTS** |
| **June 30, 2025 (Unaudited)** | **June 30, 2025 (Unaudited)** | **June 30, 2025 (Unaudited)** |
| **COMMON STOCKS - 98.1%** | **Shares** | **Value** |
| **Communications - 15.2%** | **Communications - 15.2%** | **Communications - 15.2%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Alphabet, Inc. - Class A | &nbsp;&nbsp;159602 | &nbsp;&nbsp;$28126661 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Electronic Arts, Inc. | &nbsp;&nbsp;90615 | &nbsp;&nbsp;14471216 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Meta Platforms, Inc. - Class A | &nbsp;&nbsp;100693 | &nbsp;&nbsp;74320496 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Spotify Technology S.A. <sup>(a)</sup> | &nbsp;&nbsp;47415 | &nbsp;&nbsp;36383426 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Uber Technologies, Inc. <sup>(a)</sup> | &nbsp;&nbsp;313270 | &nbsp;&nbsp;29228091 |
|  |  | &nbsp;&nbsp;182529890 |
| **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;301467 | &nbsp;&nbsp;66138845 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Home Depot, Inc. (The) | &nbsp;&nbsp;35360 | &nbsp;&nbsp;12964390 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;TJX Companies, Inc. (The) | &nbsp;&nbsp;195356 | &nbsp;&nbsp;24124513 |
|  |  | &nbsp;&nbsp;103227748 |
| **Consumer Staples - 1.9%** | **Consumer Staples - 1.9%** | **Consumer Staples - 1.9%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Costco Wholesale Corporation | &nbsp;&nbsp;22961 | &nbsp;&nbsp;22730012 |
| **Energy - 1.9%** | **Energy - 1.9%** | **Energy - 1.9%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;EOG Resources, Inc. | &nbsp;&nbsp;190154 | &nbsp;&nbsp;22744320 |
| **Financials - 12.8%** | **Financials - 12.8%** | **Financials - 12.8%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Aon plc - Class A | &nbsp;&nbsp;61391 | &nbsp;&nbsp;21901853 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Berkshire Hathaway, Inc. - Class B <sup>(a)</sup> | &nbsp;&nbsp;49522 | &nbsp;&nbsp;24056302 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Brookfield Corporation | &nbsp;&nbsp;980905 | &nbsp;&nbsp;60668974 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Intercontinental Exchange, Inc. | &nbsp;&nbsp;153815 | &nbsp;&nbsp;28220438 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Markel Group, Inc. <sup>(a)</sup> | &nbsp;&nbsp;9263 | &nbsp;&nbsp;18501546 |
|  |  | &nbsp;&nbsp;153349113 |
| **Health Care - 12.7%** | **Health Care - 12.7%** | **Health Care - 12.7%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Abbott Laboratories | &nbsp;&nbsp;183874 | &nbsp;&nbsp;25008703 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Danaher Corporation | &nbsp;&nbsp;150801 | &nbsp;&nbsp;29789229 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Intuitive Surgical, Inc. <sup>(a)</sup> | &nbsp;&nbsp;24229 | &nbsp;&nbsp;13166281 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Novo Nordisk A/S - ADR | &nbsp;&nbsp;398563 | &nbsp;&nbsp;27508818 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;UnitedHealth Group, Inc. | &nbsp;&nbsp;111311 | &nbsp;&nbsp;34725693 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Vertex Pharmaceuticals, Inc. <sup>(a)</sup> | &nbsp;&nbsp;49884 | &nbsp;&nbsp;22208357 |
|  |  | &nbsp;&nbsp;152407081 |
| **Industrials - 9.3%** | **Industrials - 9.3%** | **Industrials - 9.3%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Quanta Services, Inc. | &nbsp;&nbsp;57908 | &nbsp;&nbsp;21893857 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Republic Services, Inc. | &nbsp;&nbsp;80582 | &nbsp;&nbsp;19872327 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Rockwell Automation, Inc. | &nbsp;&nbsp;100505 | &nbsp;&nbsp;33384746 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Trane Technologies plc | &nbsp;&nbsp;45871 | &nbsp;&nbsp;20064434 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Union Pacific Corporation | &nbsp;&nbsp;68387 | &nbsp;&nbsp;15734481 |
|  |  | &nbsp;&nbsp;110949845 |

---

---

| | | |
|:---|:---|:---|
| **DAVENPORT CORE LEADERS FUND** | **DAVENPORT CORE LEADERS FUND** | **DAVENPORT CORE LEADERS FUND** |
| **SCHEDULE OF INVESTMENTS (Continued)** | **SCHEDULE OF INVESTMENTS (Continued)** | **SCHEDULE OF INVESTMENTS (Continued)** |
| **COMMON STOCKS - 98.1% (Continued)** | **Shares** | **Value** |
| **Materials - 4.5%** | **Materials - 4.5%** | **Materials - 4.5%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Martin Marietta Materials, Inc. | &nbsp;&nbsp;49805 | &nbsp;&nbsp;$27340953 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sherwin-Williams Company (The) | &nbsp;&nbsp;78158 | &nbsp;&nbsp;26836331 |
|  |  | &nbsp;&nbsp;54177284 |
| **Technology - 31.2%** | **Technology - 31.2%** | **Technology - 31.2%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accenture plc - Class A | &nbsp;&nbsp;49093 | &nbsp;&nbsp;14673407 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Adobe, Inc. <sup>(a)</sup> | &nbsp;&nbsp;80698 | &nbsp;&nbsp;31220442 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Analog Devices, Inc. | &nbsp;&nbsp;117206 | &nbsp;&nbsp;27897372 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Apple, Inc. | &nbsp;&nbsp;142574 | &nbsp;&nbsp;29251908 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Broadcom, Inc. | &nbsp;&nbsp;123087 | &nbsp;&nbsp;33928932 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mastercard, Inc. - Class A | &nbsp;&nbsp;61617 | &nbsp;&nbsp;34625057 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Microsoft Corporation | &nbsp;&nbsp;115975 | &nbsp;&nbsp;57687125 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NVIDIA Corporation | &nbsp;&nbsp;420095 | &nbsp;&nbsp;66370809 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Palo Alto Networks, Inc. <sup>(a)</sup> | &nbsp;&nbsp;105982 | &nbsp;&nbsp;21688156 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ServiceNow, Inc. <sup>(a)</sup> | &nbsp;&nbsp;26744 | &nbsp;&nbsp;27494971 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Visa, Inc. - Class A | &nbsp;&nbsp;80027 | &nbsp;&nbsp;28413586 |
|  |  | &nbsp;&nbsp;373251765 |
| **Total Common Stocks** (Cost $626,961,097) | **Total Common Stocks** (Cost $626,961,097) | &nbsp;&nbsp;$1175367058 |
| **MONEY MARKET FUNDS - 2.0%** | **Shares** | **Value** |
| First American Treasury Obligations Fund - Class X, 4.24% <sup>(b)</sup> (Cost $23,656,078) | &nbsp;&nbsp;23656078 | &nbsp;&nbsp;$23656078 |
| **Total Investments at Value - 100.1%** (Cost $650,617,175) | **Total Investments at Value - 100.1%** (Cost $650,617,175) | &nbsp;&nbsp;$1199023136 |
| **Liabilities in Excess of Other Assets - (0.1%)** | **Liabilities in Excess of Other Assets - (0.1%)** | &nbsp;&nbsp; (540742) |
| **Net Assets - 100.0%** | **Net Assets - 100.0%** | &nbsp;&nbsp;$1198482394 |

---

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 June 30, 2025. <br>

---

| | | |
|:---|:---|:---|
| **DAVENPORT VALUE & INCOME FUND** | **DAVENPORT VALUE & INCOME FUND** | **DAVENPORT VALUE & INCOME FUND** |
| **SCHEDULE OF INVESTMENTS** | **SCHEDULE OF INVESTMENTS** | **SCHEDULE OF INVESTMENTS** |
| **June 30, 2025 (Unaudited)** | **June 30, 2025 (Unaudited)** | **June 30, 2025 (Unaudited)** |
| **COMMON STOCKS - 95.3%** | **Shares** | **Value** |
| **Communications - 3.2%** | **Communications - 3.2%** | **Communications - 3.2%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Comcast Corporation - Class A | &nbsp;&nbsp;827322 | &nbsp;&nbsp;$29527122 |
| **Consumer Discretionary - 5.4%** | **Consumer Discretionary - 5.4%** | **Consumer Discretionary - 5.4%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Genuine Parts Company | &nbsp;&nbsp;114184 | &nbsp;&nbsp;13851661 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Lowe's Companies, Inc. | &nbsp;&nbsp;75071 | &nbsp;&nbsp;16656003 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;McDonald's Corporation | &nbsp;&nbsp;67919 | &nbsp;&nbsp;19843894 |
|  |  | &nbsp;&nbsp;50351558 |
| **Consumer Staples - 10.2%** | **Consumer Staples - 10.2%** | **Consumer Staples - 10.2%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Anheuser-Busch InBev S.A./N.V. - ADR | &nbsp;&nbsp;504125 | &nbsp;&nbsp;34643470 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Constellation Brands, Inc. - Class A | &nbsp;&nbsp;49185 | &nbsp;&nbsp;8001416 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;PepsiCo, Inc. | &nbsp;&nbsp;97080 | &nbsp;&nbsp;12818443 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Philip Morris International, Inc. | &nbsp;&nbsp;138372 | &nbsp;&nbsp;25201692 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Walmart, Inc. | &nbsp;&nbsp;153128 | &nbsp;&nbsp;14972856 |
|  |  | &nbsp;&nbsp;95637877 |
| **Energy - 7.3%** | **Energy - 7.3%** | **Energy - 7.3%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Chevron Corporation | &nbsp;&nbsp;210481 | &nbsp;&nbsp;30138774 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Enbridge, Inc. | &nbsp;&nbsp;415078 | &nbsp;&nbsp;18811335 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Schlumberger Ltd. | &nbsp;&nbsp;573631 | &nbsp;&nbsp;19388728 |
|  |  | &nbsp;&nbsp;68338837 |
| **Financials - 22.1%** | **Financials - 22.1%** | **Financials - 22.1%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Berkshire Hathaway, Inc. - Class B <sup>(a)</sup> | &nbsp;&nbsp;42548 | &nbsp;&nbsp;20668542 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Brookfield Asset Management Ltd. - Class A | &nbsp;&nbsp;503572 | &nbsp;&nbsp;27837460 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Brookfield Corporation | &nbsp;&nbsp;417451 | &nbsp;&nbsp;25819344 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Citigroup, Inc. | &nbsp;&nbsp;230835 | &nbsp;&nbsp;19648675 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fairfax Financial Holdings Ltd. | &nbsp;&nbsp;15651 | &nbsp;&nbsp;28274784 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fidelity National Financial, Inc. | &nbsp;&nbsp;268304 | &nbsp;&nbsp;15041122 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;JPMorgan Chase & Company | &nbsp;&nbsp;89614 | &nbsp;&nbsp;25979995 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Markel Group, Inc. <sup>(a)</sup> | &nbsp;&nbsp;11438 | &nbsp;&nbsp;22845804 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Wells Fargo & Company | &nbsp;&nbsp;255757 | &nbsp;&nbsp;20491251 |
|  |  | &nbsp;&nbsp;206606977 |
| **Health Care - 14.6%** | **Health Care - 14.6%** | **Health Care - 14.6%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Becton, Dickinson and Company | &nbsp;&nbsp;123462 | &nbsp;&nbsp;21266329 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bristol-Myers Squibb Company | &nbsp;&nbsp;445188 | &nbsp;&nbsp;20607753 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Elevance Health, Inc. | &nbsp;&nbsp;54241 | &nbsp;&nbsp;21097579 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Johnson & Johnson | &nbsp;&nbsp;196306 | &nbsp;&nbsp;29985742 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Medtronic plc | &nbsp;&nbsp;252099 | &nbsp;&nbsp;21975470 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sanofi - ADR | &nbsp;&nbsp;452417 | &nbsp;&nbsp;21856265 |
|  |  | &nbsp;&nbsp;136789138 |
| **Industrials - 16.3%** | **Industrials - 16.3%** | **Industrials - 16.3%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;FedEx Corporation | &nbsp;&nbsp;51370 | &nbsp;&nbsp;11676915 |

---

---

| | | |
|:---|:---|:---|
| **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 - 95.3% (Continued)** | **Shares** | **Value** |
| **Industrials - 16.3% (Continued)** | **Industrials - 16.3% (Continued)** | **Industrials - 16.3% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Johnson Controls International plc | &nbsp;&nbsp;182612 | &nbsp;&nbsp;$19287479 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;L3Harris Technologies, Inc. | &nbsp;&nbsp;137491 | &nbsp;&nbsp;34488242 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Norfolk Southern Corporation | &nbsp;&nbsp;106081 | &nbsp;&nbsp;27153554 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;TE Connectivity plc | &nbsp;&nbsp;144697 | &nbsp;&nbsp;24406043 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;United Parcel Service, Inc. - Class B | &nbsp;&nbsp;175884 | &nbsp;&nbsp;17753731 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Watsco, Inc. | &nbsp;&nbsp;39678 | &nbsp;&nbsp;17522598 |
|  |  | &nbsp;&nbsp;152288562 |
| **Materials - 1.3%** | **Materials - 1.3%** | **Materials - 1.3%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Avery Dennison Corporation | &nbsp;&nbsp;69142 | &nbsp;&nbsp;12132347 |
| **Real Estate - 6.7%** | **Real Estate - 6.7%** | **Real Estate - 6.7%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Alexandria Real Estate Equities, Inc. | &nbsp;&nbsp;128437 | &nbsp;&nbsp;9328380 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;American Tower Corporation | &nbsp;&nbsp;150258 | &nbsp;&nbsp;33210023 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Lamar Advertising Company - Class A | &nbsp;&nbsp;166231 | &nbsp;&nbsp;20173794 |
|  |  | &nbsp;&nbsp;62712197 |
| **Technology - 5.0%** | **Technology - 5.0%** | **Technology - 5.0%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;HP, Inc. | &nbsp;&nbsp;548766 | &nbsp;&nbsp;13422816 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Oracle Corporation | &nbsp;&nbsp;153939 | &nbsp;&nbsp;33655684 |
|  |  | &nbsp;&nbsp;47078500 |
| **Utilities - 3.2%** | **Utilities - 3.2%** | **Utilities - 3.2%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NextEra Energy, Inc. | &nbsp;&nbsp;435887 | &nbsp;&nbsp;30259276 |
| **Total Common Stocks** (Cost $660,608,260) | **Total Common Stocks** (Cost $660,608,260) | &nbsp;&nbsp;$891722391 |
| **MONEY MARKET FUNDS - 4.6%** | **Shares** | **Value** |
| First American Treasury Obligations Fund - <br> Class X, 4.24% <sup>(b)</sup> (Cost $43,133,878) | &nbsp;&nbsp;43133878 | &nbsp;&nbsp;$43133878 |
| **Total Investments at Value - 99.9%** (Cost $703,742,138) | **Total Investments at Value - 99.9%** (Cost $703,742,138) | &nbsp;&nbsp;$934856269 |
| **Other Assets in Excess of Liabilities - 0.1%** | **Other Assets in Excess of Liabilities - 0.1%** | &nbsp;&nbsp;865319 |
| **Net Assets - 100.0%** | **Net Assets - 100.0%** | &nbsp;&nbsp;$935721588 |

---

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 June 30, 2025.

---

| | | |
|:---|:---|:---|
| **DAVENPORT EQUITY OPPORTUNITIES FUND** | **DAVENPORT EQUITY OPPORTUNITIES FUND** | **DAVENPORT EQUITY OPPORTUNITIES FUND** |
| **SCHEDULE OF INVESTMENTS** | **SCHEDULE OF INVESTMENTS** | **SCHEDULE OF INVESTMENTS** |
| **June 30, 2025 (Unaudited)** | **June 30, 2025 (Unaudited)** | **June 30, 2025 (Unaudited)** |
| **COMMON STOCKS - 96.7%** | **Shares** | **Value** |
| **Communications - 1.9%** | **Communications - 1.9%** | **Communications - 1.9%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Take-Two Interactive Software, Inc. <sup>(a)</sup> | &nbsp;&nbsp;71792 | &nbsp;&nbsp;$17434687 |
| **Consumer Discretionary - 28.3%** | **Consumer Discretionary - 28.3%** | **Consumer Discretionary - 28.3%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Caesars Entertainment, Inc. <sup>(a)</sup> | &nbsp;&nbsp;1017894 | &nbsp;&nbsp;28898011 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CarMax, Inc. <sup>(a)</sup> | &nbsp;&nbsp;402058 | &nbsp;&nbsp;27022318 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;DraftKings, Inc. - Class A <sup>(a)</sup> | &nbsp;&nbsp;931916 | &nbsp;&nbsp;39969877 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Etsy, Inc. <sup>(a)</sup> | &nbsp;&nbsp;363470 | &nbsp;&nbsp;18231655 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Live Nation Entertainment, Inc. <sup>(a)</sup> | &nbsp;&nbsp;417578 | &nbsp;&nbsp;63171200 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mobileye Global, Inc. - Class A <sup>(a)</sup> | &nbsp;&nbsp;847700 | &nbsp;&nbsp;15241646 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;O'Reilly Automotive, Inc. <sup>(a)</sup> | &nbsp;&nbsp;404610 | &nbsp;&nbsp;36467499 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Wynn Resorts Ltd. | &nbsp;&nbsp;305296 | &nbsp;&nbsp;28597077 |
|  |  | &nbsp;&nbsp;257599283 |
| **Consumer Staples - 2.8%** | **Consumer Staples - 2.8%** | **Consumer Staples - 2.8%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Casey's General Stores, Inc. | &nbsp;&nbsp;49350 | &nbsp;&nbsp;25181825 |
| **Financials - 23.6%** | **Financials - 23.6%** | **Financials - 23.6%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Brookfield Asset Management Ltd. - Class A | &nbsp;&nbsp;468039 | &nbsp;&nbsp;25873196 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Brookfield Corporation | &nbsp;&nbsp;960564 | &nbsp;&nbsp;59410883 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fairfax Financial Holdings Ltd. | &nbsp;&nbsp;19731 | &nbsp;&nbsp;35645630 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Kinsale Capital Group, Inc. | &nbsp;&nbsp;126315 | &nbsp;&nbsp;61123829 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Markel Group, Inc. <sup>(a)</sup> | &nbsp;&nbsp;16445 | &nbsp;&nbsp;32846585 |
|  |  | &nbsp;&nbsp;214900123 |
| **Health Care - 4.2%** | **Health Care - 4.2%** | **Health Care - 4.2%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Align Technology, Inc. <sup>(a)</sup> | &nbsp;&nbsp;200553 | &nbsp;&nbsp;37970699 |
| **Industrials - 20.7%** | **Industrials - 20.7%** | **Industrials - 20.7%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Clean Harbors, Inc. <sup>(a)</sup> | &nbsp;&nbsp;200073 | &nbsp;&nbsp;46252876 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Enovis Corporation <sup>(a)</sup> | &nbsp;&nbsp;778312 | &nbsp;&nbsp;24407864 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ESAB Corporation | &nbsp;&nbsp;267670 | &nbsp;&nbsp;32267619 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Generac Holdings, Inc. <sup>(a)</sup> | &nbsp;&nbsp;94415 | &nbsp;&nbsp;13521172 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Old Dominion Freight Line, Inc. | &nbsp;&nbsp;132281 | &nbsp;&nbsp;21469206 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Watsco, Inc. | &nbsp;&nbsp;46599 | &nbsp;&nbsp;20579051 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Xylem, Inc. | &nbsp;&nbsp;236567 | &nbsp;&nbsp;30602307 |
|  |  | &nbsp;&nbsp;189100095 |
| **Materials - 6.7%** | **Materials - 6.7%** | **Materials - 6.7%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Martin Marietta Materials, Inc. | &nbsp;&nbsp;61832 | &nbsp;&nbsp;33943295 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sherwin-Williams Company (The) | &nbsp;&nbsp;79460 | &nbsp;&nbsp;27283385 |
|  |  | &nbsp;&nbsp;61226680 |
| **Real Estate - 5.5%** | **Real Estate - 5.5%** | **Real Estate - 5.5%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;American Tower Corporation | &nbsp;&nbsp;105282 | &nbsp;&nbsp;23269428 |

---

---

| | | |
|:---|:---|:---|
| **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 - 96.7% (Continued)** | **Shares** | **Value** |
| **Real Estate - 5.5% (Continued)** | **Real Estate - 5.5% (Continued)** | **Real Estate - 5.5% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Lamar Advertising Company - Class A | &nbsp;&nbsp;221240 | &nbsp;&nbsp;$26849686 |
|  |  | &nbsp;&nbsp;50119114 |
| **Technology - 3.0%** | **Technology - 3.0%** | **Technology - 3.0%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Okta, Inc. <sup>(a)</sup> | &nbsp;&nbsp;272829 | &nbsp;&nbsp;27274715 |
| **Total Common Stocks** (Cost $594,030,775) | **Total Common Stocks** (Cost $594,030,775) | &nbsp;&nbsp;$880807221 |
| **MONEY MARKET FUNDS - 2.9%** | **Shares** | **Value** |
| First American Treasury Obligations Fund - <br> Class X, 4.24% <sup>(b)</sup> (Cost $26,331,173) | &nbsp;&nbsp;26331173 | &nbsp;&nbsp;$26331173 |
| **Total Investments at Value - 99.6%** (Cost $620,361,948) | **Total Investments at Value - 99.6%** (Cost $620,361,948) | &nbsp;&nbsp;$907138394 |
| **Other Assets in Excess of Liabilities - 0.4%** | **Other Assets in Excess of Liabilities - 0.4%** | &nbsp;&nbsp;3827078 |
| **Net Assets - 100.0%** | **Net Assets - 100.0%** | &nbsp;&nbsp;$910965472 |

---

<sup>(a)</sup> Non-income producing security. <br> <sup>(b)</sup> The rate shown is the 7-day effective yield as of June 30, 2025.

---

| | | |
|:---|:---|:---|
| **DAVENPORT SMALL CAP FOCUS FUND** | **DAVENPORT SMALL CAP FOCUS FUND** | **DAVENPORT SMALL CAP FOCUS FUND** |
| **SCHEDULE OF INVESTMENTS** | **SCHEDULE OF INVESTMENTS** | **SCHEDULE OF INVESTMENTS** |
| **June 30, 2025 (Unaudited)** | **June 30, 2025 (Unaudited)** | **June 30, 2025 (Unaudited)** |
| **COMMON STOCKS - 96.0%** | **Shares** | **Value** |
| **Communications - 7.7%** | **Communications - 7.7%** | **Communications - 7.7%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;AST SpaceMobile, Inc. <sup>(a)</sup> | &nbsp;&nbsp;290000 | &nbsp;&nbsp;$13551700 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cable One, Inc. | &nbsp;&nbsp;150538 | &nbsp;&nbsp;20444565 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;DigitalBridge Group, Inc. | &nbsp;&nbsp;1300000 | &nbsp;&nbsp;13455000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Liberty Media Corp-Liberty Live - Series C <sup>(a)</sup> | &nbsp;&nbsp;91599 | &nbsp;&nbsp;7434175 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shenandoah Telecommunications Company | &nbsp;&nbsp;930012 | &nbsp;&nbsp;12703964 |
|  |  | &nbsp;&nbsp;67589404 |
| **Consumer Discretionary - 26.0%** | **Consumer Discretionary - 26.0%** | **Consumer Discretionary - 26.0%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Caesars Entertainment, Inc. <sup>(a)</sup> | &nbsp;&nbsp;1114306 | &nbsp;&nbsp;31635147 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;DraftKings, Inc. - Class A <sup>(a)</sup> | &nbsp;&nbsp;383946 | &nbsp;&nbsp;16467444 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Etsy, Inc. <sup>(a)</sup> | &nbsp;&nbsp;272988 | &nbsp;&nbsp;13693078 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Golden Entertainment, Inc. <sup>(b)</sup> | &nbsp;&nbsp;1467748 | &nbsp;&nbsp;43195824 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Monarch Casino & Resort, Inc. | &nbsp;&nbsp;754186 | &nbsp;&nbsp;65191838 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;OneSpaWorld Holdings Ltd. | &nbsp;&nbsp;1807488 | &nbsp;&nbsp;36854680 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Six Flags Entertainment Corporation <sup>(a)</sup> | &nbsp;&nbsp;662879 | &nbsp;&nbsp;20171408 |
|  |  | &nbsp;&nbsp;227209419 |
| **Consumer Staples - 3.2%** | **Consumer Staples - 3.2%** | **Consumer Staples - 3.2%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;J & J Snack Foods Corporation | &nbsp;&nbsp;248460 | &nbsp;&nbsp;28177849 |
| **Energy - 4.9%** | **Energy - 4.9%** | **Energy - 4.9%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;California Resources Corporation | &nbsp;&nbsp;797299 | &nbsp;&nbsp;36412645 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CNX Resources Corporation <sup>(a)</sup> | &nbsp;&nbsp;177267 | &nbsp;&nbsp;5970353 |
|  |  | &nbsp;&nbsp;42382998 |
| **Financials - 12.5%** | **Financials - 12.5%** | **Financials - 12.5%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Atlantic Union Bankshares Corporation | &nbsp;&nbsp;502210 | &nbsp;&nbsp;15709129 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Kinsale Capital Group, Inc. | &nbsp;&nbsp;122799 | &nbsp;&nbsp;59422436 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Stewart Information Services Corporation | &nbsp;&nbsp;516481 | &nbsp;&nbsp;33622913 |
|  |  | &nbsp;&nbsp;108754478 |
| **Health Care - 0.4%** | **Health Care - 0.4%** | **Health Care - 0.4%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bowhead Specialty Holdings Inc <sup>(a)</sup> | &nbsp;&nbsp;88231 | &nbsp;&nbsp;3311309 |
| **Industrials - 18.8%** | **Industrials - 18.8%** | **Industrials - 18.8%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Enovis Corporation <sup>(a)</sup> | &nbsp;&nbsp;1139630 | &nbsp;&nbsp;35738797 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ESAB Corporation | &nbsp;&nbsp;359427 | &nbsp;&nbsp;43328925 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Generac Holdings, Inc. <sup>(a)</sup> | &nbsp;&nbsp;236841 | &nbsp;&nbsp;33918000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Hexcel Corporation | &nbsp;&nbsp;506503 | &nbsp;&nbsp;28612354 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Kirby Corporation <sup>(a)</sup> | &nbsp;&nbsp;202941 | &nbsp;&nbsp;23015539 |
|  |  | &nbsp;&nbsp;164613615 |
| **Materials - 6.6%** | **Materials - 6.6%** | **Materials - 6.6%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NewMarket Corporation | &nbsp;&nbsp;50187 | &nbsp;&nbsp;34672191 |

---

---

| | | |
|:---|:---|:---|
| **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 - 96.0% (Continued)** | **Shares** | **Value** |
| **Materials - 6.6% (Continued)** | **Materials - 6.6% (Continued)** | **Materials - 6.6% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Trex Company, Inc. <sup>(a)</sup> | &nbsp;&nbsp;416619 | &nbsp;&nbsp;$22655741 |
|  |  | &nbsp;&nbsp;57327932 |
| **Real Estate - 8.1%** | **Real Estate - 8.1%** | **Real Estate - 8.1%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Janus International Group, Inc. <sup>(a)</sup> | &nbsp;&nbsp;3192921 | &nbsp;&nbsp;25990377 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Lamar Advertising Company - Class A | &nbsp;&nbsp;147322 | &nbsp;&nbsp;17878998 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Outfront Media, Inc. | &nbsp;&nbsp;1635438 | &nbsp;&nbsp;26690348 |
|  |  | &nbsp;&nbsp;70559723 |
| **Technology - 7.8%** | **Technology - 7.8%** | **Technology - 7.8%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;HealthEquity, Inc. <sup>(a)</sup> | &nbsp;&nbsp;199290 | &nbsp;&nbsp;20877620 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shift4 Payments, Inc. - Class A <sup>(a)</sup> | &nbsp;&nbsp;126626 | &nbsp;&nbsp;12549903 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Verra Mobility Corporation - Class A <sup>(a)</sup> | &nbsp;&nbsp;1381281 | &nbsp;&nbsp;35070725 |
|  |  | &nbsp;&nbsp;68498248 |
| **Total Common Stocks** (Cost $755,962,976) |  | &nbsp;&nbsp;$838424975 |
| **EXCHANGE-TRADED FUNDS - 1.7%** | **Shares** | **Value** |
| ALPS Medical Breakthroughs ETF (Cost $14,436,219) | &nbsp;&nbsp;473402 | &nbsp;&nbsp;$14235198 |
| **MONEY MARKET FUNDS - 1.6%** | **Shares** | **Value** |
| First American Treasury Obligations Fund - Class X, 4.24% <sup>(c)</sup> (Cost $14,192,714) | &nbsp;&nbsp;14192714 | &nbsp;&nbsp;$14192714 |
| **Total Investments at Value - 99.3%** (Cost $784,591,909) |  | $866852887 |
| **Other Assets in Excess of Liabilities - 0.7%** |  | 6331150 |
| **Net Assets - 100.0%** |  | $873184037 |

---

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

<sup>(b)</sup> The Fund owned 5% or more of the company's outstanding voting shares thereby making the company an affiliate of the Fund as the term is defined in the Investment Company Act of 1940.

<sup>(c)</sup> The rate shown is the 7-day effective yield as of June 30, 2025.

---

| | | |
|:---|:---|:---|
| **DAVENPORT BALANCED INCOME FUND** | **DAVENPORT BALANCED INCOME FUND** | **DAVENPORT BALANCED INCOME FUND** |
| **SCHEDULE OF INVESTMENTS** | **SCHEDULE OF INVESTMENTS** | **SCHEDULE OF INVESTMENTS** |
| **June 30, 2025 (Unaudited)** | **June 30, 2025 (Unaudited)** | **June 30, 2025 (Unaudited)** |
| **COMMON STOCKS - 56.5%** | **Shares** | **Value** |
| **Communications - 1.7%** | **Communications - 1.7%** | **Communications - 1.7%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Comcast Corporation - Class A | &nbsp;&nbsp;124487 | &nbsp;&nbsp;$4442941 |
| **Consumer Discretionary - 2.9%** | **Consumer Discretionary - 2.9%** | **Consumer Discretionary - 2.9%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Genuine Parts Company | &nbsp;&nbsp;17247 | &nbsp;&nbsp;2092234 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Lowe's Companies, Inc. | &nbsp;&nbsp;11344 | &nbsp;&nbsp;2516893 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;McDonald's Corporation | &nbsp;&nbsp;9828 | &nbsp;&nbsp;2871447 |
|  |  | &nbsp;&nbsp;7480574 |
| **Consumer Staples - 7.4%** | **Consumer Staples - 7.4%** | **Consumer Staples - 7.4%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Anheuser-Busch InBev S.A./N.V. - ADR | &nbsp;&nbsp;74741 | &nbsp;&nbsp;5136202 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Constellation Brands, Inc. - Class A | &nbsp;&nbsp;7436 | &nbsp;&nbsp;1209688 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Kenvue, Inc. | &nbsp;&nbsp;108000 | &nbsp;&nbsp;2260440 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;PepsiCo, Inc. | &nbsp;&nbsp;14405 | &nbsp;&nbsp;1902036 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Philip Morris International, Inc. | &nbsp;&nbsp;20915 | &nbsp;&nbsp;3809249 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Smithfield Foods, Inc. | &nbsp;&nbsp;104000 | &nbsp;&nbsp;2447120 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Walmart, Inc. | &nbsp;&nbsp;22890 | &nbsp;&nbsp;2238184 |
|  |  | &nbsp;&nbsp;19002919 |
| **Energy - 5.1%** | **Energy - 5.1%** | **Energy - 5.1%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Chevron Corporation | &nbsp;&nbsp;31803 | &nbsp;&nbsp;4553871 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Enbridge, Inc. | &nbsp;&nbsp;60275 | &nbsp;&nbsp;2731663 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Enterprise Products Partners, L.P. | &nbsp;&nbsp;87000 | &nbsp;&nbsp;2697870 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Schlumberger Ltd. | &nbsp;&nbsp;86921 | &nbsp;&nbsp;2937930 |
|  |  | &nbsp;&nbsp;12921334 |
| **Financials - 12.0%** | **Financials - 12.0%** | **Financials - 12.0%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Berkshire Hathaway, Inc. - Class B <sup>(a)</sup> | &nbsp;&nbsp;6141 | &nbsp;&nbsp;2983114 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Brookfield Asset Management Ltd. - Class A | &nbsp;&nbsp;76217 | &nbsp;&nbsp;4213276 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Brookfield Corporation | &nbsp;&nbsp;60623 | &nbsp;&nbsp;3749532 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Citigroup, Inc. | &nbsp;&nbsp;33536 | &nbsp;&nbsp;2854585 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fairfax Financial Holdings Ltd. | &nbsp;&nbsp;2340 | &nbsp;&nbsp;4227397 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fidelity National Financial, Inc. | &nbsp;&nbsp;39078 | &nbsp;&nbsp;2190713 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;JPMorgan Chase & Company | &nbsp;&nbsp;13486 | &nbsp;&nbsp;3909726 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Markel Group, Inc. <sup>(a)</sup> | &nbsp;&nbsp;1665 | &nbsp;&nbsp;3325604 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Wells Fargo & Company | &nbsp;&nbsp;37851 | &nbsp;&nbsp;3032622 |
|  |  | &nbsp;&nbsp;30486569 |
| **Health Care - 8.0%** | **Health Care - 8.0%** | **Health Care - 8.0%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Becton, Dickinson and Company | &nbsp;&nbsp;18952 | &nbsp;&nbsp;3264482 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bristol-Myers Squibb Company | &nbsp;&nbsp;64412 | &nbsp;&nbsp;2981631 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Elevance Health, Inc. | &nbsp;&nbsp;8175 | &nbsp;&nbsp;3179748 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Johnson & Johnson | &nbsp;&nbsp;28470 | &nbsp;&nbsp;4348793 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Medtronic plc | &nbsp;&nbsp;36857 | &nbsp;&nbsp;3212824 |

---

---

| | | |
|:---|:---|:---|
| **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 - 56.5% (Continued)** | **Shares** | **Value** |
| **Health Care - 8.0% (Continued)** | **Health Care - 8.0% (Continued)** | **Health Care - 8.0% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sanofi - ADR | &nbsp;&nbsp;68467 | &nbsp;&nbsp;$3307641 |
|  |  | &nbsp;&nbsp;20295119 |
| **Industrials - 8.9%** | **Industrials - 8.9%** | **Industrials - 8.9%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;FedEx Corporation | &nbsp;&nbsp;7451 | &nbsp;&nbsp;1693687 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Johnson Controls International plc | &nbsp;&nbsp;28026 | &nbsp;&nbsp;2960106 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;L3Harris Technologies, Inc. | &nbsp;&nbsp;20699 | &nbsp;&nbsp;5192137 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Norfolk Southern Corporation | &nbsp;&nbsp;15848 | &nbsp;&nbsp;4056613 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;TE Connectivity plc | &nbsp;&nbsp;20730 | &nbsp;&nbsp;3496529 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;United Parcel Service, Inc. - Class B | &nbsp;&nbsp;26017 | &nbsp;&nbsp;2626156 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Watsco, Inc. | &nbsp;&nbsp;5866 | &nbsp;&nbsp;2590543 |
|  |  | &nbsp;&nbsp;22615771 |
| **Materials - 0.7%** | **Materials - 0.7%** | **Materials - 0.7%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Avery Dennison Corporation | &nbsp;&nbsp;10339 | &nbsp;&nbsp;1814184 |
| **Real Estate - 3.7%** | **Real Estate - 3.7%** | **Real Estate - 3.7%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Alexandria Real Estate Equities, Inc. | &nbsp;&nbsp;19599 | &nbsp;&nbsp;1423476 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;American Tower Corporation | &nbsp;&nbsp;22905 | &nbsp;&nbsp;5062463 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Lamar Advertising Company - Class A | &nbsp;&nbsp;24867 | &nbsp;&nbsp;3017859 |
|  |  | &nbsp;&nbsp;9503798 |
| **Technology - 2.8%** | **Technology - 2.8%** | **Technology - 2.8%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;HP, Inc. | &nbsp;&nbsp;81357 | &nbsp;&nbsp;1989992 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Oracle Corporation | &nbsp;&nbsp;23620 | &nbsp;&nbsp;5164041 |
|  |  | &nbsp;&nbsp;7154033 |
| **Utilities - 3.3%** | **Utilities - 3.3%** | **Utilities - 3.3%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Brookfield Infrastructure Partners, L.P. | &nbsp;&nbsp;61867 | &nbsp;&nbsp;2072545 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Brookfield Renewable Partners, L.P. | &nbsp;&nbsp;76999 | &nbsp;&nbsp;1964244 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NextEra Energy, Inc. | &nbsp;&nbsp;63059 | &nbsp;&nbsp;4377556 |
|  |  | &nbsp;&nbsp;8414345 |
| **Total Common Stocks** (Cost $111,086,452) |  | &nbsp;&nbsp;$144131587 |
| **FIXED RATE CORPORATE BONDS - 24.0%** | **Par Value** | **Value** |
| **Communications - 2.0%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Meta Platforms, Inc., 4.950%, due 05/15/2033 | &nbsp;&nbsp;$4990000 | &nbsp;&nbsp;$5117601 |
| **Consumer Discretionary - 0.6%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Lowe's Companies, Inc., 4.400%, due 09/08/2025 | &nbsp;&nbsp;1525000 | &nbsp;&nbsp;1524315 |
| **Consumer Staples - 2.2%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Keurig Dr Pepper, Inc., 5.050%, due 03/15/2029 | &nbsp;&nbsp;2500000 | &nbsp;&nbsp;2555174 |

---

---

| | | |
|:---|:---|:---|
| **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 - 24.0% (Continued)** | **Par Value** | **Value** |
| **Consumer Staples - 2.2% (Continued)** | | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Phillip Morris International, Inc., 5.375%, due 02/15/2033 | &nbsp;&nbsp;$2995000 | &nbsp;&nbsp;$3094589 |
|  |  | &nbsp;&nbsp;5649763 |
| **Energy - 5.4%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Boardwalk Pipelines, L.P., 4.450%, due 07/15/2027 | &nbsp;&nbsp;2200000 | &nbsp;&nbsp;2198855 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;BP Capital Markets America, 4.812%, due 02/13/2033 | &nbsp;&nbsp;2990000 | &nbsp;&nbsp;2986738 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;MPLX, L.P., 4.125%, due 03/01/2027 | &nbsp;&nbsp;3250000 | &nbsp;&nbsp;3232116 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Occidental Petroleum Corporation, 5.550%, due 10/01/2034 | &nbsp;&nbsp;3500000 | &nbsp;&nbsp;3432682 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ONEOK, Inc., 5.550%, due 11/01/2026 | &nbsp;&nbsp;1995000 | &nbsp;&nbsp;2022310 |
|  |  | &nbsp;&nbsp;13872701 |
| **Financials - 4.9%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;BlackRock, Inc., 4.750%, due 05/25/2033 | &nbsp;&nbsp;3000000 | &nbsp;&nbsp;3033129 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Charles Schwab Corporation (The), 5.875%, due 08/24/2026 | &nbsp;&nbsp;3750000 | &nbsp;&nbsp;3812545 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Royal Bank of Canada, 5.000%, due 05/02/2033 | &nbsp;&nbsp;3000000 | &nbsp;&nbsp;3037372 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Wells Fargo & Company, 4.811%, due 01/15/2026 | &nbsp;&nbsp;2500000 | &nbsp;&nbsp;2505593 |
|  |  | &nbsp;&nbsp;12388639 |
| **Health Care - 4.8%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bristol-Myers Squibb Company, 5.900%, due 11/15/2033 | &nbsp;&nbsp;3000000 | &nbsp;&nbsp;3216950 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;HCA, Inc., 5.450%, due 04/01/2031 | &nbsp;&nbsp;3500000 | &nbsp;&nbsp;3602373 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Merck & Company, Inc., 4.500%, due 05/17/2033 | &nbsp;&nbsp;2490000 | &nbsp;&nbsp;2482648 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Zoetis, Inc., 5.400%, due 11/14/2025 | &nbsp;&nbsp;2990000 | &nbsp;&nbsp;2996390 |
|  |  | &nbsp;&nbsp;12298361 |
| **Industrials - 0.8%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Waste Management, Inc., 4.875%, due 02/15/2029 | &nbsp;&nbsp;1995000 | &nbsp;&nbsp;2042872 |
| **Technology - 3.3%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fiserv, Inc., 3.200%, due 07/01/2026 | &nbsp;&nbsp;2325000 | &nbsp;&nbsp;2298211 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Oracle Corporation, 5.800%, due 11/10/2025 | &nbsp;&nbsp;2990000 | &nbsp;&nbsp;3002060 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Paychex, Inc., 5.100%, due 04/15/2030 | &nbsp;&nbsp;3000000 | &nbsp;&nbsp;3071742 |
|  |  | &nbsp;&nbsp;8372013 |
| **Total Fixed Rate Corporate Bonds** (Cost $60,423,558) |  | &nbsp;&nbsp; $61266265 |

---

---

| | | |
|:---|:---|:---|
| **DAVENPORT BALANCED INCOME FUND** | **DAVENPORT BALANCED INCOME FUND** | **DAVENPORT BALANCED INCOME FUND** |
| **SCHEDULE OF INVESTMENTS (Continued)** | **SCHEDULE OF INVESTMENTS (Continued)** | **SCHEDULE OF INVESTMENTS (Continued)** |
| **MUNICIPAL BONDS - 1.0%** | **Par Value** | **Value** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Richmond, VA, GO, Public Improvement Bonds |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series, 4.800%, due 03/01/2033 (Cost $2,527,145) | &nbsp;&nbsp;$2455000 | &nbsp;&nbsp;$2495507 |
| **U.S. GOVERNMENT & AGENCY OBLIGATIONS - 8.0%** | **Par Value** | **Value** |
| **Federal Farm Credit Bank - 4.3%** | **Federal Farm Credit Bank - 4.3%** | **Federal Farm Credit Bank - 4.3%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.260%, due 11/14/2033 | &nbsp;&nbsp;5000000 | &nbsp;&nbsp;$4994493 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.550%, due 01/02/2035 | &nbsp;&nbsp;1000000 | &nbsp;&nbsp;999695 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.330%, due 10/17/2039 | &nbsp;&nbsp;5000000 | &nbsp;&nbsp;4913972 |
|  |  | &nbsp;&nbsp;10908160 |
| **Federal Home Loan Bank - 3.7%** | **Federal Home Loan Bank - 3.7%** | **Federal Home Loan Bank - 3.7%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.600%, due 12/27/2034 | &nbsp;&nbsp;3000000 | &nbsp;&nbsp;2999731 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.250%, due 03/20/2035 | &nbsp;&nbsp;5000000 | &nbsp;&nbsp;5002907 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.550%, due 09/12/2039 | &nbsp;&nbsp;1500000 | &nbsp;&nbsp;1480667 |
|  |  | &nbsp;&nbsp;9483305 |
| **Total U.S. Government & Agency Obligations** (Cost $20,455,413) |  | &nbsp;&nbsp;$20391465 |
| **U.S. TREASURY OBLIGATIONS - 4.1%** | **Par Value** | **Value** |
| **U.S. Treasury Bills - 1.5%** | **U.S. Treasury Bills - 1.5%** | **U.S. Treasury Bills - 1.5%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.403%, due 08/26/2025 <sup>(b)</sup> | &nbsp;&nbsp;3900000 | &nbsp;&nbsp;$3873747 |
| **U.S. Treasury Notes - 2.6%** | **U.S. Treasury Notes - 2.6%** | **U.S. Treasury Notes - 2.6%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.750%, due 07/31/2025 | &nbsp;&nbsp;2000000 | &nbsp;&nbsp;2000558 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.875%, due 04/30/2026 | &nbsp;&nbsp;2500000 | &nbsp;&nbsp;2515698 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.875%, due 08/15/2033 | &nbsp;&nbsp;2000000 | &nbsp;&nbsp;1969766 |
|  |  | &nbsp;&nbsp;6486022 |
| **Total U.S. Treasury Obligations** (Cost $10,247,948) |  | &nbsp;&nbsp;$10359769 |

---

---

| | | |
|:---|:---|:---|
| **DAVENPORT BALANCED INCOME FUND** | **DAVENPORT BALANCED INCOME FUND** | **DAVENPORT BALANCED INCOME FUND** |
| **SCHEDULE OF INVESTMENTS (Continued)** | **SCHEDULE OF INVESTMENTS (Continued)** | **SCHEDULE OF INVESTMENTS (Continued)** |
| **MONEY MARKET FUNDS - 5.9%** | **Shares** | **Value** |
| First American Treasury Obligations Fund - <br> Class X, 4.24% <sup>(c)</sup> (Cost $15,088,408) | &nbsp;&nbsp;15088408 | &nbsp;&nbsp;$15088408 |
| **Total Investments at Value - 99.5%** (Cost $219,828,924) | **Total Investments at Value - 99.5%** (Cost $219,828,924) | &nbsp;&nbsp;$253733001 |
| **Other Assets in Excess of Liabilities - 0.5%** | **Other Assets in Excess of Liabilities - 0.5%** | &nbsp;&nbsp;1254705 |
| **Net Assets - 100.0%** | **Net Assets - 100.0%** | &nbsp;&nbsp;$254987706 |

---

ADR - American Depositary Receipt.

<sup>(a)</sup> Non-income producing security. <br> <sup>(b)</sup> The rate shown is the annualized yield at the time of purchase. <br> <sup>(c)</sup> The rate shown is the 7-day effective yield as of June 30, 2025.

---

| | | |
|:---|:---|:---|
| **DAVENPORT INSIDER BUYING FUND** | **DAVENPORT INSIDER BUYING FUND** | **DAVENPORT INSIDER BUYING FUND** |
| **SCHEDULE OF INVESTMENTS** | **SCHEDULE OF INVESTMENTS** | **SCHEDULE OF INVESTMENTS** |
| **June 30, 2025 (Unaudited)** | **June 30, 2025 (Unaudited)** | **June 30, 2025 (Unaudited)** |
| **COMMON STOCKS - 97.0%** | **Shares** | **Value** |
| **Consumer Discretionary - 9.7%** | **Consumer Discretionary - 9.7%** | **Consumer Discretionary - 9.7%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Builders FirstSource, Inc. <sup>(a)</sup> | &nbsp;&nbsp;16000 | &nbsp;&nbsp;$1867040 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;LKQ Corporation | &nbsp;&nbsp;45000 | &nbsp;&nbsp;1665450 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NIKE, Inc. - Class B | &nbsp;&nbsp;41500 | &nbsp;&nbsp;2948160 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Wynn Resorts Ltd. | &nbsp;&nbsp;27000 | &nbsp;&nbsp;2529090 |
|  |  | &nbsp;&nbsp;9009740 |
| **Consumer Staples - 4.0%** | **Consumer Staples - 4.0%** | **Consumer Staples - 4.0%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Darling Ingredients, Inc. <sup>(a)</sup> | &nbsp;&nbsp;53000 | &nbsp;&nbsp;2010820 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Kenvue, Inc. | &nbsp;&nbsp;80000 | &nbsp;&nbsp;1674400 |
|  |  | &nbsp;&nbsp;3685220 |
| **Energy - 3.4%** | **Energy - 3.4%** | **Energy - 3.4%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ConocoPhillips | &nbsp;&nbsp;35000 | &nbsp;&nbsp;3140900 |
| **Financials - 6.9%** | **Financials - 6.9%** | **Financials - 6.9%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Aon plc - Class A | &nbsp;&nbsp;7300 | &nbsp;&nbsp;2604348 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Charles Schwab Corporation (The) | &nbsp;&nbsp;41500 | &nbsp;&nbsp;3786460 |
|  |  | &nbsp;&nbsp;6390808 |
| **Health Care - 12.4%** | **Health Care - 12.4%** | **Health Care - 12.4%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Align Technology, Inc. <sup>(a)</sup> | &nbsp;&nbsp;18000 | &nbsp;&nbsp;3407940 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Becton, Dickinson and Company | &nbsp;&nbsp;12000 | &nbsp;&nbsp;2067000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bristol-Myers Squibb Company | &nbsp;&nbsp;35000 | &nbsp;&nbsp;1620150 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Johnson & Johnson | &nbsp;&nbsp;12000 | &nbsp;&nbsp;1833000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Zimmer Biomet Holdings, Inc. | &nbsp;&nbsp;28000 | &nbsp;&nbsp;2553880 |
|  |  | &nbsp;&nbsp;11481970 |
| **Industrials - 21.8%** | **Industrials - 21.8%** | **Industrials - 21.8%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amphenol Corporation - Class A | &nbsp;&nbsp;20000 | &nbsp;&nbsp;1975000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Chart Industries, Inc. <sup>(a)</sup> | &nbsp;&nbsp;12000 | &nbsp;&nbsp;1975800 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Clean Harbors, Inc. <sup>(a)</sup> | &nbsp;&nbsp;11000 | &nbsp;&nbsp;2542980 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Eaton Corporation plc | &nbsp;&nbsp;6200 | &nbsp;&nbsp;2213338 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Emerson Electric Company | &nbsp;&nbsp;17500 | &nbsp;&nbsp;2333275 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;FedEx Corporation | &nbsp;&nbsp;9000 | &nbsp;&nbsp;2045790 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Hexcel Corporation | &nbsp;&nbsp;35000 | &nbsp;&nbsp;1977150 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Keysight Technologies, Inc. <sup>(a)</sup> | &nbsp;&nbsp;16000 | &nbsp;&nbsp;2621760 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Norfolk Southern Corporation | &nbsp;&nbsp;10000 | &nbsp;&nbsp;2559700 |
|  |  | &nbsp;&nbsp;20244793 |
| **Materials - 8.5%** | **Materials - 8.5%** | **Materials - 8.5%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Corteva, Inc. | &nbsp;&nbsp;26000 | &nbsp;&nbsp;1937780 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Eagle Materials, Inc. | &nbsp;&nbsp;7500 | &nbsp;&nbsp;1515825 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;International Flavors & Fragrances, Inc. | &nbsp;&nbsp;27500 | &nbsp;&nbsp;2022625 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Martin Marietta Materials, Inc. | &nbsp;&nbsp;4300 | &nbsp;&nbsp;2360528 |
|  |  | &nbsp;&nbsp;7836758 |

---

---

| | | |
|:---|:---|:---|
| **DAVENPORT INSIDER BUYING FUND** | **DAVENPORT INSIDER BUYING FUND** | **DAVENPORT INSIDER BUYING FUND** |
| **SCHEDULE OF INVESTMENTS (Continued)** | **SCHEDULE OF INVESTMENTS (Continued)** | **SCHEDULE OF INVESTMENTS (Continued)** |
| **COMMON STOCKS - 97.0% (Continued)** | **Shares** | **Value** |
| **Real Estate - 2.4%** | **Real Estate - 2.4%** | **Real Estate - 2.4%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mid-America Apartment Communities, Inc. | &nbsp;&nbsp;15000 | &nbsp;&nbsp;$2220150 |
| **Technology - 23.6%** | **Technology - 23.6%** | **Technology - 23.6%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Adobe, Inc. <sup>(a)</sup> | &nbsp;&nbsp;8500 | &nbsp;&nbsp;3288480 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Applied Materials, Inc. | &nbsp;&nbsp;10500 | &nbsp;&nbsp;1922235 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Booz Allen Hamilton Holding Corporation | &nbsp;&nbsp;13500 | &nbsp;&nbsp;1405755 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Leidos Holdings, Inc. | &nbsp;&nbsp;13500 | &nbsp;&nbsp;2129760 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Marvell Technology, Inc. | &nbsp;&nbsp;30000 | &nbsp;&nbsp;2322000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mastercard, Inc. - Class A | &nbsp;&nbsp;6000 | &nbsp;&nbsp;3371640 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;MSCI, Inc. | &nbsp;&nbsp;3870 | &nbsp;&nbsp;2231984 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;TransUnion | &nbsp;&nbsp;24000 | &nbsp;&nbsp;2112000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Zebra Technologies Corporation - Class A <sup>(a)</sup> | &nbsp;&nbsp;10000 | &nbsp;&nbsp;3083600 |
|  |  | &nbsp;&nbsp;21867454 |
| **Utilities - 4.3%** | **Utilities - 4.3%** | **Utilities - 4.3%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NextEra Energy, Inc. | &nbsp;&nbsp;40000 | &nbsp;&nbsp;2776800 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sempra | &nbsp;&nbsp;16500 | &nbsp;&nbsp;1250205 |
|  |  | &nbsp;&nbsp;4027005 |
| **Total Common Stocks** (Cost $85,176,596) | **Total Common Stocks** (Cost $85,176,596) | &nbsp;&nbsp;$89904798 |
| **MONEY MARKET FUNDS - 2.9%** | **Shares** | **Value** |
| First American Treasury Obligations Fund - <br> Class X, 4.24% <sup>(b)</sup> (Cost $2,723,475) | &nbsp;&nbsp;2723475 | &nbsp;&nbsp;$2723475 |
| **Total Investments at Value - 99.9%** (Cost $87,900,071) | **Total Investments at Value - 99.9%** (Cost $87,900,071) | &nbsp;&nbsp;$92628273 |
| **Other Assets in Excess of Liabilities - 0.1%** | **Other Assets in Excess of Liabilities - 0.1%** | &nbsp;&nbsp;46868 |
| **Net Assets - 100.0%** | **Net Assets - 100.0%** | &nbsp;&nbsp;$92675141 |

---

<sup>(a)</sup> Non-income producing security. <br> <sup>(b)</sup> The rate shown is the 7-day effective yield as of June 30, 2025.

## 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 EQUITY OPPORTUNITIES FUND

- **b. EDGAR series identifier (if any):** S000030555

- **c. LEI of Series:** 54930078YTWSCZR0OU64

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

- **a. Date of fiscal year-end:** 2026-03-31

- **b. Date as of which information is reported:** 2025-06-30

**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:** $911603757.80

**Total Liabilities:** $638285.62

**Net Assets:** $910965472.18

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000094749 | -0.55%               | 2.80%                | 3.79%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-9921715.04             | $5286136.53                                |
| Month 2  | $-11571811.56            | $35706198.60                               |
| Month 3  | $15866541.03             | $16943364.78                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| DraftKings Inc.                    | DraftKings Inc.                                  | CUSIP: 26142V105<br>LEI: 2549006G33IUL6IVOD83 | Long             | EC               | CORP              | US        |    931916 | NS      | $39969877.24  | 4.39%             |  |  |  | No            |                  1 | On Loan: No      |
| American Tower Corporation         | American Tower Corporation                       | CUSIP: 03027X100<br>LEI: 5493006ORUSIL88JOE18 | Long             | EC               | CORP              | US        |    105282 | NS      | $23269427.64  | 2.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Live Nation Entertainment, Inc.    | Live Nation Entertainment, Inc.                  | CUSIP: 538034109<br>LEI: 5493007B9BM9ZXJINO78 | Long             | EC               | CORP              | US        |    417578 | NS      | $63171199.84  | 6.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Caesars Entertainment Inc.         | Caesars Entertainment, Inc.                      | CUSIP: 12769G100<br>LEI: 549300FA4CTCW903Y781 | Long             | EC               | CORP              | US        |   1017894 | NS      | $28898010.66  | 3.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Carmax Inc                         | CarMax, Inc.                                     | CUSIP: 143130102<br>LEI: 529900F60CID3NCZM330 | Long             | EC               | CORP              | US        |    402058 | NS      | $27022318.18  | 2.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Old Dominion Freight Line Inc.     | Old Dominion Freight Line, Inc.                  | CUSIP: 679580100<br>LEI: 5299009TWK32WE417T96 | Long             | EC               | CORP              | US        |    132281 | NS      | $21469206.30  | 2.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Markel Group Inc                   | Markel Corporation                               | CUSIP: 570535104<br>LEI: 549300SCNO12JLWIK605 | Long             | EC               | CORP              | US        |     16445 | NS      | $32846585.20  | 3.61%             |  |  |  | No            |                  1 | On Loan: No      |
| O'Reilly Automotive Inc.           | O'Reilly Automotive, Inc.                        | CUSIP: 67103H107<br>LEI: 549300K2RLMQL149Q332 | Long             | EC               | CORP              | US        |    404610 | NS      | $36467499.30  | 4.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Okta Inc.                          | OKTA, INC.                                       | CUSIP: 679295105<br>LEI: 549300N8J06I8MRHU620 | Long             | EC               | CORP              | US        |    272829 | NS      | $27274715.13  | 2.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Casey'S General Stores Inc.        | Casey's General Stores, Inc.                     | CUSIP: 147528103<br>LEI: 549300CAFWSI86V66Q65 | Long             | EC               | CORP              | US        |     49350 | NS      | $25181824.50  | 2.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Generac Holdings Inc.              | Generac Holdings, Inc.                           | CUSIP: 368736104<br>LEI: 529900S2H2AHJHSFFI84 | Long             | EC               | CORP              | US        |     94415 | NS      | $13521172.15  | 1.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Clean Harbors, Inc.                | Clean Harbors, Inc.                              | CUSIP: 184496107<br>LEI: 5493000SJVZVZJKHJF48 | Long             | EC               | CORP              | US        |    200073 | NS      | $46252876.14  | 5.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Align Technology Inc.              | Align Technology, Inc.                           | CUSIP: 016255101<br>LEI: 549300N5YSE0U3LCP840 | Long             | EC               | CORP              | US        |    200553 | NS      | $37970699.49  | 4.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Enovis Corporation                 | Enovis Corporation                               | CUSIP: 194014502<br>LEI: 635400OP2DYYYMOIYL17 | Long             | EC               | CORP              | US        |    778312 | NS      | $24407864.32  | 2.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Fairfax Financial Holdings Limited | Fairfax Financial Holdings Ltd. (Canada)         | CUSIP: 303901102<br>LEI: GLS7OQD0WOEDI8YAP031 | Long             | EC               | CORP              | CA        |     19731 | NS      | $35645629.98  | 3.91%             |  |  |  | No            |                  1 | On Loan: No      |
| First American Funds Inc.          | First American Treasury Obligations Fund Class X | CUSIP: 31846V328<br>LEI: 549300J5J5SJCZ9IA369 | Long             | STIV             | RF                | US        |  26331173 | PA      | $26331172.58  | 2.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Mobileye Global Inc                | MOBILEYE GLOBAL INC-A                            | CUSIP: 60741F104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    847700 | NS      | $15241646.00  | 1.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Watsco Inc                         | Watsco, Inc.                                     | CUSIP: 942622200<br>LEI: 549300F1Y3LN5BX5WN75 | Long             | EC               | CORP              | US        |     46599 | NS      | $20579050.38  | 2.26%             |  |  |  | No            |                  1 | On Loan: No      |
| ESAB Corp.                         | ESAB Corporation                                 | CUSIP: 29605J106<br>LEI: 549300ZNV0SWBXEIWT04 | Long             | EC               | CORP              | US        |    267670 | NS      | $32267618.50  | 3.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Brookfield Corp.                   | Brookfield Corporation                           | CUSIP: 11271J107<br>LEI: C6J3FGIWG6MBDGTE8F80 | Long             | EC               | CORP              | CA        |    960564 | NS      | $59410883.40  | 6.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Brookfield Asset Management Ltd    | Brookfield Asset Management Ltd.                 | CUSIP: 113004105<br>LEI: 549300CZ84WPNJZKY093 | Long             | EC               | CORP              | CA        |    468039 | NS      | $25873195.92  | 2.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Take-Two Interactive Software Inc. | Take-Two Interactive Software, Inc.              | CUSIP: 874054109<br>LEI: BOMSTHHJK882EWYX3334 | Long             | EC               | CORP              | US        |     71792 | NS      | $17434687.20  | 1.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Lamar Advertising Company          | Lamar Advertising Company Class A                | CUSIP: 512816109<br>LEI: 529900Y8WW4MKVPTB543 | Long             | EC               | CORP              | US        |    221240 | NS      | $26849686.40  | 2.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Martin Marietta Materials Inc      | Martin Marietta Materials, Inc.                  | CUSIP: 573284106<br>LEI: 5299005MZ4WZECVATV08 | Long             | EC               | CORP              | US        |     61832 | NS      | $33943294.72  | 3.73%             |  |  |  | No            |                  1 | On Loan: No      |
| The Sherwin-Williams Company       | Sherwin-Williams Company (The)                   | CUSIP: 824348106<br>LEI: Z15BMIOX8DDH0X2OBP21 | Long             | EC               | CORP              | US        |     79460 | NS      | $27283385.60  | 2.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Etsy Inc                           | Etsy, Inc.                                       | CUSIP: 29786A106<br>LEI: 54930089Q7XT501AEA40 | Long             | EC               | CORP              | US        |    363470 | NS      | $18231655.20  | 2.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Kinsale Capital Group Inc          | Kinsale Capital Group, Inc.                      | CUSIP: 49714P108<br>LEI: 529900QTUQHNZ6HOA508 | Long             | EC               | CORP              | US        |    126315 | NS      | $61123828.50  | 6.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Wynn Resorts Limited               | Wynn Resorts Ltd.                                | CUSIP: 983134107<br>LEI: 254900CEKKWIHTEAB172 | Long             | EC               | CORP              | US        |    305296 | NS      | $28597076.32  | 3.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Xylem, Inc.                        | Xylem, Inc.                                      | CUSIP: 98419M100<br>LEI: 549300DF5MV96DRYLQ48 | Long             | EC               | CORP              | US        |    236567 | NS      | $30602307.12  | 3.36%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-06-30

**Name of Applicant:** Davenport Equity Opportunities Fund

**Signature:** Jeff S. Romie

**Name of Signer:** Jeff S. Romie

**Title:** VP, Fund Accounting