# EDGAR Filing Document

**Accession Number:** 0001965760
**File Stem:** 0001172661-26-000420
**Filing Date:** 2026-2
**Character Count:** 16850
**Document Hash:** b12e540e3e5eb30536b2c0b6be654568
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001172661-26-000420.hdr.sgml**: 20260202

**ACCESSION NUMBER**: 0001172661-26-000420

**CONFORMED SUBMISSION TYPE**: 13F-HR

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260202

**DATE AS OF CHANGE**: 20260202

**EFFECTIVENESS DATE**: 20260202

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** DUDLEY CAPITAL MANAGEMENT, LLC
- **CENTRAL INDEX KEY:** 0001965760

**ORGANIZATION NAME:**
- **EIN:** 812827742
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-22992
- **FILM NUMBER:** 26586501

**BUSINESS ADDRESS:**
- **STREET 1:** 115 THE PLAINS ROAD
- **STREET 2:** SUITE 250
- **CITY:** MIDDLEBURG
- **STATE:** VA
- **ZIP:** 20117
- **BUSINESS PHONE:** 540-687-4600

**MAIL ADDRESS:**
- **STREET 1:** PO BOX 494
- **CITY:** MIDDLEBURG
- **STATE:** VA
- **ZIP:** 20118

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 12-31-2025

**Check here if Amendment** [ ] **Amendment Number:** 

**This Amendment (Check only one.):** [ ] is a restatement.

[ ] adds new holdings entries.

**Institutional Investment Manager Filing this Report:**

**Name:** DUDLEY CAPITAL MANAGEMENT LLC<br>**Address:** Po Box 494<br>Middleburg, VA 20118

**Form 13F File Number:** 028-22992

**CRD Number (if applicable):** 000282958

**SEC File Number (if applicable):** 801-108148

The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form.

**Person Signing this Report on Behalf of Reporting Manager:**

**Name:** PHILIP RC DUDLEY<br>**Title:** MANAGING PARTNER<br>**Phone:** 540-687-4600

**Signature, Place, and Date of Signing:**

/s/ PHILIP RC DUDLEY  MIDDLEBURG, VA  02-02-2026<br>[Signature]  [City, State]  [Date]

**Report Type (Check only one.):**

[x] **13F HOLDINGS REPORT.** (Check here if all holdings of this reporting manager are reported in this report.)

[ ] **13F NOTICE.** (Check here if no holdings are reported in this report, and all holdings are reported by other reporting manager(s).)

[ ] **13F COMBINATION REPORT.** (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).)

### Form 13F Summary Page

**Report Summary:**

**Number of Other Included Managers:** 0

**Form 13F Information Table Entry Total:** 136

**Form 13F Information Table Value Total:** $229968855

      (round to nearest dollar)

**List of Other Included Managers:**

Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report.

[If there are no entries in this list, state “NONE” and omit the column headings and list entries.]

**NONE**

### FORM 13F INFORMATION TABLE

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | VOTING AUTHORITY | VOTING AUTHORITY | VOTING AUTHORITY |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | SOLE | SHARED | NONE |
| ABBVIE INC | COM | 00287Y109 |  | 5075085 | 22211 | SH |  | SOLE |  | 0 | 0 | 22211 |
| ALLSTATE CORP | COM | 020002101 |  | 732064 | 3517 | SH |  | SOLE |  | 0 | 0 | 3517 |
| ALPHABET INC | CAP STK CL A | 02079K305 |  | 10120855 | 32335 | SH |  | SOLE |  | 0 | 0 | 32335 |
| ALPHABET INC | CAP STK CL A | 02079K305 |  | 250400 | 800 | SH | Call | SOLE |  | 0 | 0 | 800 |
| ALPHABET INC | CAP STK CL C | 02079K107 |  | 5043080 | 16071 | SH |  | SOLE |  | 0 | 0 | 16071 |
| ALTRIA GROUP INC | COM | 02209S103 |  | 1048035 | 18176 | SH |  | SOLE |  | 0 | 0 | 18176 |
| AMAZON COM INC | COM | 023135106 |  | 3976426 | 17227 | SH |  | SOLE |  | 0 | 0 | 17227 |
| AMAZON COM INC | COM | 023135106 |  | 115410 | 500 | SH | Call | SOLE |  | 0 | 0 | 500 |
| AMERICAN TOWER CORP NEW | COM | 03027X100 |  | 1545872 | 8805 | SH |  | SOLE |  | 0 | 0 | 8805 |
| AMGEN INC | COM | 031162100 |  | 403573 | 1233 | SH |  | SOLE |  | 0 | 0 | 1233 |
| AMPHENOL CORP NEW | CL A | 032095101 |  | 235144 | 1740 | SH |  | SOLE |  | 0 | 0 | 1740 |
| APOLLO GLOBAL MGMT INC | COM | 03769M106 |  | 434280 | 3000 | SH |  | SOLE |  | 0 | 0 | 3000 |
| APPLE INC | COM | 037833100 |  | 15797018 | 58107 | SH |  | SOLE |  | 0 | 0 | 58107 |
| APPLIED DIGITAL CORP | COM NEW | 038169207 |  | 203516 | 8300 | SH |  | SOLE |  | 0 | 0 | 8300 |
| APPLOVIN CORP | COM CL A | 03831W108 |  | 640129 | 950 | SH |  | SOLE |  | 0 | 0 | 950 |
| ARES MANAGEMENT CORPORATION | CL A COM STK | 03990B101 |  | 1002106 | 6200 | SH |  | SOLE |  | 0 | 0 | 6200 |
| ARISTA NETWORKS INC | COM SHS | 040413205 |  | 587276 | 4482 | SH |  | SOLE |  | 0 | 0 | 4482 |
| AT INC | COM | 00206R102 |  | 540543 | 21761 | SH |  | SOLE |  | 0 | 0 | 21761 |
| ATLANTIC UN BANKSHARES CORP | COM | 04911A107 |  | 1035031 | 29321 | SH |  | SOLE |  | 0 | 0 | 29321 |
| AUTOMATIC DATA PROCESSING IN | COM | 053015103 |  | 706354 | 2746 | SH |  | SOLE |  | 0 | 0 | 2746 |
| BERKSHIRE HATHAWAY INC DEL | CL B NEW | 084670702 |  | 6063467 | 12063 | SH |  | SOLE |  | 0 | 0 | 12063 |
| BLACKROCK ETF TRUST II | ISHARES FLEXIBLE | 092528603 |  | 1244787 | 23589 | SH |  | SOLE |  | 0 | 0 | 23589 |
| BLACKSTONE INC | COM | 09260D107 |  | 3203281 | 20782 | SH |  | SOLE |  | 0 | 0 | 20782 |
| BLUE OWL CAPITAL CORPORATION | COM | 69121K104 |  | 592538 | 47670 | SH |  | SOLE |  | 0 | 0 | 47670 |
| BLUEROCK PVT REAL ESTATE FD | COM | 09631P102 |  | 1550880 | 103392 | SH |  | SOLE |  | 0 | 0 | 103392 |
| BRISTOL-MYERS SQUIBB CO | COM | 110122108 |  | 1482055 | 27476 | SH |  | SOLE |  | 0 | 0 | 27476 |
| BROADCOM INC | COM | 11135F101 |  | 5337247 | 15421 | SH |  | SOLE |  | 0 | 0 | 15421 |
| CADENCE DESIGN SYSTEM INC | COM | 127387108 |  | 217868 | 697 | SH |  | SOLE |  | 0 | 0 | 697 |
| CATERPILLAR INC | COM | 149123101 |  | 1177790 | 2056 | SH |  | SOLE |  | 0 | 0 | 2056 |
| CELESTICA INC | COM | 15101Q207 |  | 384293 | 1300 | SH |  | SOLE |  | 0 | 0 | 1300 |
| CHEVRON CORP NEW | COM | 166764100 |  | 6550403 | 42979 | SH |  | SOLE |  | 0 | 0 | 42979 |
| CISCO SYS INC | COM | 17275R102 |  | 3587595 | 46574 | SH |  | SOLE |  | 0 | 0 | 46574 |
| COCA COLA CO | COM | 191216100 |  | 2761408 | 39499 | SH |  | SOLE |  | 0 | 0 | 39499 |
| COLGATE PALMOLIVE CO | COM | 194162103 |  | 434689 | 5501 | SH |  | SOLE |  | 0 | 0 | 5501 |
| CORNING INC | COM | 219350105 |  | 409431 | 4676 | SH |  | SOLE |  | 0 | 0 | 4676 |
| COSTCO WHSL CORP NEW | COM | 22160K105 |  | 1998904 | 2318 | SH |  | SOLE |  | 0 | 0 | 2318 |
| CREDO TECHNOLOGY GROUP HOLDI | ORDINARY SHARES | G25457105 |  | 605345 | 4207 | SH |  | SOLE |  | 0 | 0 | 4207 |
| CROWDSTRIKE HLDGS INC | CL A | 22788C105 |  | 3206318 | 6840 | SH |  | SOLE |  | 0 | 0 | 6840 |
| DISNEY WALT CO | COM | 254687106 |  | 300922 | 2645 | SH |  | SOLE |  | 0 | 0 | 2645 |
| EATON CORP PLC | SHS | G29183103 |  | 456743 | 1434 | SH |  | SOLE |  | 0 | 0 | 1434 |
| EATON VANCE LIMITED DURATION | COM | 27828H105 |  | 172266 | 17383 | SH |  | SOLE |  | 0 | 0 | 17383 |
| EATON VANCE TAX-MANAGED DIVE | COM | 27828N102 |  | 186518 | 12159 | SH |  | SOLE |  | 0 | 0 | 12159 |
| ELI LILLY  CO | COM | 532457108 |  | 1585182 | 1475 | SH |  | SOLE |  | 0 | 0 | 1475 |
| ENERGY TRANSFER L P | COM UT LTD PTN | 29273V100 |  | 225204 | 13657 | SH |  | SOLE |  | 0 | 0 | 13657 |
| EXXON MOBIL CORP | COM | 30231G102 |  | 5536206 | 46005 | SH |  | SOLE |  | 0 | 0 | 46005 |
| FIDELITY MERRIMACK STR TR | TOTAL BD ETF | 316188309 |  | 381211 | 8280 | SH |  | SOLE |  | 0 | 0 | 8280 |
| FIDELITY WISE ORIGIN BITCOIN | SHS | 315948109 |  | 736229 | 9658 | SH |  | SOLE |  | 0 | 0 | 9658 |
| FREQUENCY ELECTRS INC | COM | 358010106 |  | 236896 | 4400 | SH |  | SOLE |  | 0 | 0 | 4400 |
| GE AEROSPACE | COM NEW | 369604301 |  | 1758857 | 5710 | SH |  | SOLE |  | 0 | 0 | 5710 |
| GE VERNOVA INC | COM | 36828A101 |  | 645089 | 987 | SH |  | SOLE |  | 0 | 0 | 987 |
| GENERAL DYNAMICS CORP | COM | 369550108 |  | 1275605 | 3789 | SH |  | SOLE |  | 0 | 0 | 3789 |
| GENUINE PARTS CO | COM | 372460105 |  | 2018265 | 16414 | SH |  | SOLE |  | 0 | 0 | 16414 |
| GRANITESHARES ETF TR | 2X LONG NVDA DAI | 38747R827 |  | 264030 | 3000 | SH |  | SOLE |  | 0 | 0 | 3000 |
| GRAYSCALE BITCOIN TRUST ETF | SHS REP COM UT | 389637109 |  | 249309 | 3647 | SH |  | SOLE |  | 0 | 0 | 3647 |
| HOME DEPOT INC | COM | 437076102 |  | 3416913 | 9930 | SH |  | SOLE |  | 0 | 0 | 9930 |
| HONEYWELL INTL INC | COM | 438516106 |  | 683790 | 3505 | SH |  | SOLE |  | 0 | 0 | 3505 |
| INTEL CORP | COM | 458140100 |  | 203467 | 5514 | SH |  | SOLE |  | 0 | 0 | 5514 |
| INTERNATIONAL BUSINESS MACHS | COM | 459200101 |  | 3330070 | 11242 | SH |  | SOLE |  | 0 | 0 | 11242 |
| INVESCO EXCHANGE TRADED FD T | S EQL WGT | 46137V357 |  | 1253554 | 6544 | SH |  | SOLE |  | 0 | 0 | 6544 |
| ISHARES TR | CORE HIGH DV ETF | 46429B663 |  | 688404 | 5661 | SH |  | SOLE |  | 0 | 0 | 5661 |
| ISHARES TR | CORE MSCI EAFE | 46432F842 |  | 760589 | 8502 | SH |  | SOLE |  | 0 | 0 | 8502 |
| ISHARES TR | CORE S SCP ETF | 464287804 |  | 274371 | 2283 | SH |  | SOLE |  | 0 | 0 | 2283 |
| ISHARES TR | EXPANDED TECH | 464287515 |  | 206835 | 1957 | SH |  | SOLE |  | 0 | 0 | 1957 |
| ISHARES TR | IBDS DEC28 ETF | 46435U515 |  | 262187 | 10300 | SH |  | SOLE |  | 0 | 0 | 10300 |
| ISHARES TR | IBONDS 26 TRM TS | 46436E858 |  | 208734 | 9125 | SH |  | SOLE |  | 0 | 0 | 9125 |
| ISHARES TR | IBONDS 27 ETF | 46435UAA9 |  | 829769 | 34175 | SH |  | SOLE |  | 0 | 0 | 34175 |
| ISHARES TR | IBONDS DEC2026 | 46435GAA0 |  | 1145888 | 47292 | SH |  | SOLE |  | 0 | 0 | 47292 |
| ISHARES TR | RUS TP200 GR ETF | 464289438 |  | 313050 | 1130 | SH |  | SOLE |  | 0 | 0 | 1130 |
| ISHARES TR | SELECT DIVID ETF | 464287168 |  | 268166 | 1900 | SH |  | SOLE |  | 0 | 0 | 1900 |
| J P MORGAN EXCHANGE TRADED F | EQUITY PREMIUM | 46641Q332 |  | 278847 | 4872 | SH |  | SOLE |  | 0 | 0 | 4872 |
| J P MORGAN EXCHANGE TRADED F | NASDAQ EQT PREM | 46654Q203 |  | 252325 | 4341 | SH |  | SOLE |  | 0 | 0 | 4341 |
| J P MORGAN EXCHANGE TRADED F | ULTRA SHRT ETF | 46641Q837 |  | 1085632 | 21459 | SH |  | SOLE |  | 0 | 0 | 21459 |
| JOHNSON  JOHNSON | COM | 478160104 |  | 9412780 | 45483 | SH |  | SOLE |  | 0 | 0 | 45483 |
| JPMORGAN CHASE  CO. | COM | 46625H100 |  | 7993269 | 24807 | SH |  | SOLE |  | 0 | 0 | 24807 |
| KIMBELL RTY PARTNERS LP | UNIT | 49435R102 |  | 117600 | 10000 | SH |  | SOLE |  | 0 | 0 | 10000 |
| KINDER MORGAN INC DEL | COM | 49456B101 |  | 2293721 | 83438 | SH |  | SOLE |  | 0 | 0 | 83438 |
| KKR  CO INC | COM | 48251W104 |  | 455104 | 3570 | SH |  | SOLE |  | 0 | 0 | 3570 |
| LIGHTBRIDGE CORP | COM | 53224K302 |  | 379200 | 30000 | SH |  | SOLE |  | 0 | 0 | 30000 |
| MASTERCARD INCORPORATED | CL A | 57636Q104 |  | 3379610 | 5920 | SH |  | SOLE |  | 0 | 0 | 5920 |
| MCDONALDS CORP | COM | 580135101 |  | 299212 | 979 | SH |  | SOLE |  | 0 | 0 | 979 |
| MEDTRONIC PLC | SHS | G5960L103 |  | 947536 | 9864 | SH |  | SOLE |  | 0 | 0 | 9864 |
| MERCK  CO INC | COM | 58933Y105 |  | 2037801 | 19360 | SH |  | SOLE |  | 0 | 0 | 19360 |
| META PLATFORMS INC | CL A | 30303M102 |  | 1982728 | 3004 | SH |  | SOLE |  | 0 | 0 | 3004 |
| META PLATFORMS INC | CL A | 30303M102 |  | 462063 | 700 | SH | Call | SOLE |  | 0 | 0 | 700 |
| MICROSOFT CORP | COM | 594918104 |  | 15642875 | 32345 | SH |  | SOLE |  | 0 | 0 | 32345 |
| NETFLIX INC | COM | 64110L106 |  | 1681586 | 17935 | SH |  | SOLE |  | 0 | 0 | 17935 |
| NEWMONT CORP | COM | 651639106 |  | 1380825 | 13829 | SH |  | SOLE |  | 0 | 0 | 13829 |
| NEXTERA ENERGY INC | COM | 65339F101 |  | 491153 | 6118 | SH |  | SOLE |  | 0 | 0 | 6118 |
| NORFOLK SOUTHN CORP | COM | 655844108 |  | 383131 | 1327 | SH |  | SOLE |  | 0 | 0 | 1327 |
| NORTHROP GRUMMAN CORP | COM | 666807102 |  | 2699944 | 4735 | SH |  | SOLE |  | 0 | 0 | 4735 |
| NOVO-NORDISK A S | ADR | 670100205 |  | 361248 | 7100 | SH |  | SOLE |  | 0 | 0 | 7100 |
| NUVEEN CHURCHILL DIRECT LEND | COM SHS | 67090S108 |  | 308154 | 23100 | SH |  | SOLE |  | 0 | 0 | 23100 |
| NVIDIA CORPORATION | COM | 67066G104 |  | 14065907 | 75420 | SH |  | SOLE |  | 0 | 0 | 75420 |
| ONEOK INC NEW | COM | 682680103 |  | 1377544 | 18742 | SH |  | SOLE |  | 0 | 0 | 18742 |
| ORACLE CORP | COM | 68389X105 |  | 204461 | 1049 | SH |  | SOLE |  | 0 | 0 | 1049 |
| ORACLE CORP | COM | 68389X105 |  | 97455 | 500 | SH | Call | SOLE |  | 0 | 0 | 500 |
| PALANTIR TECHNOLOGIES INC | CL A | 69608A108 |  | 659453 | 3710 | SH |  | SOLE |  | 0 | 0 | 3710 |
| PALO ALTO NETWORKS INC | COM | 697435105 |  | 244986 | 1330 | SH |  | SOLE |  | 0 | 0 | 1330 |
| PEPSICO INC | COM | 713448108 |  | 1287231 | 8969 | SH |  | SOLE |  | 0 | 0 | 8969 |
| PFIZER INC | COM | 717081103 |  | 1693706 | 68020 | SH |  | SOLE |  | 0 | 0 | 68020 |
| PHILIP MORRIS INTL INC | COM | 718172109 |  | 2144254 | 13368 | SH |  | SOLE |  | 0 | 0 | 13368 |
| PIMCO ETF TR | ACTIVE BD ETF | 72201R775 |  | 1399923 | 15040 | SH |  | SOLE |  | 0 | 0 | 15040 |
| PPG INDS INC | COM | 693506107 |  | 348364 | 3400 | SH |  | SOLE |  | 0 | 0 | 3400 |
| PROCTER AND GAMBLE CO | COM | 742718109 |  | 963760 | 6725 | SH |  | SOLE |  | 0 | 0 | 6725 |
| QUALCOMM INC | COM | 747525103 |  | 1590115 | 9296 | SH |  | SOLE |  | 0 | 0 | 9296 |
| REALTY INCOME CORP | COM | 756109104 |  | 312572 | 5545 | SH |  | SOLE |  | 0 | 0 | 5545 |
| ROBINHOOD MKTS INC | COM CL A | 770700102 |  | 226200 | 2000 | SH |  | SOLE |  | 0 | 0 | 2000 |
| RTX CORPORATION | COM | 75513E101 |  | 1924010 | 10491 | SH |  | SOLE |  | 0 | 0 | 10491 |
| S GLOBAL INC | COM | 78409V104 |  | 441066 | 844 | SH |  | SOLE |  | 0 | 0 | 844 |
| SALESFORCE INC | COM | 79466L302 |  | 1041987 | 3933 | SH |  | SOLE |  | 0 | 0 | 3933 |
| SERVICENOW INC | COM | 81762P102 |  | 726121 | 4740 | SH |  | SOLE |  | 0 | 0 | 4740 |
| SPDR S 500 ETF TR | TR UNIT | 78462F103 |  | 421309 | 618 | SH |  | SOLE |  | 0 | 0 | 618 |
| SSGA ACTIVE ETF TR | STATE STREET DOU | 78467V848 |  | 654666 | 16265 | SH |  | SOLE |  | 0 | 0 | 16265 |
| STARBUCKS CORP | COM | 855244109 |  | 700075 | 8313 | SH |  | SOLE |  | 0 | 0 | 8313 |
| TAIWAN SEMICONDUCTOR MFG LTD | SPONSORED ADS | 874039100 |  | 194186 | 639 | SH |  | SOLE |  | 0 | 0 | 639 |
| TAIWAN SEMICONDUCTOR MFG LTD | SPONSORED ADS | 874039100 |  | 303890 | 1000 | SH | Call | SOLE |  | 0 | 0 | 1000 |
| TARGA RES CORP | COM | 87612G101 |  | 664200 | 3600 | SH |  | SOLE |  | 0 | 0 | 3600 |
| TESLA INC | COM | 88160R101 |  | 3293300 | 7323 | SH |  | SOLE |  | 0 | 0 | 7323 |
| TESLA INC | COM | 88160R101 |  | 629608 | 1400 | SH | Put | SOLE |  | 0 | 0 | 1400 |
| THERMO FISHER SCIENTIFIC INC | COM | 883556102 |  | 627846 | 1084 | SH |  | SOLE |  | 0 | 0 | 1084 |
| TRUIST FINL CORP | COM | 89832Q109 |  | 803501 | 16328 | SH |  | SOLE |  | 0 | 0 | 16328 |
| UBER TECHNOLOGIES INC | COM | 90353T100 |  | 370718 | 4537 | SH |  | SOLE |  | 0 | 0 | 4537 |
| UBER TECHNOLOGIES INC | COM | 90353T100 |  | 89881 | 1100 | SH | Call | SOLE |  | 0 | 0 | 1100 |
| UNION PAC CORP | COM | 907818108 |  | 843161 | 3645 | SH |  | SOLE |  | 0 | 0 | 3645 |
| VANGUARD INDEX FDS | S 500 ETF SHS | 922908363 |  | 1167136 | 1861 | SH |  | SOLE |  | 0 | 0 | 1861 |
| VANGUARD INTL EQUITY INDEX F | FTSE EMR MKT ETF | 922042858 |  | 272778 | 5074 | SH |  | SOLE |  | 0 | 0 | 5074 |
| VERIZON COMMUNICATIONS INC | COM | 92343V104 |  | 1250452 | 30701 | SH |  | SOLE |  | 0 | 0 | 30701 |
| VERTIV HOLDINGS CO | COM CL A | 92537N108 |  | 562987 | 3475 | SH |  | SOLE |  | 0 | 0 | 3475 |
| VIPER ENERGY INC | CL A | 64361Q101 |  | 319207 | 8263 | SH |  | SOLE |  | 0 | 0 | 8263 |
| VIRGINIA NATL BANKSHARES COR | COM | 928031103 |  | 464253 | 11650 | SH |  | SOLE |  | 0 | 0 | 11650 |
| VISA INC | COM CL A | 92826C839 |  | 2960694 | 8442 | SH |  | SOLE |  | 0 | 0 | 8442 |
| WALMART INC | COM | 931142103 |  | 3579827 | 32132 | SH |  | SOLE |  | 0 | 0 | 32132 |
| WELLTOWER INC | COM | 95040Q104 |  | 1118300 | 6025 | SH |  | SOLE |  | 0 | 0 | 6025 |
| WESTERN ASSET HIGH INCOME OP | COM | 95766K109 |  | 115381 | 31100 | SH |  | SOLE |  | 0 | 0 | 31100 |
| WILLIAMS COS INC | COM | 969457100 |  | 2656362 | 44192 | SH |  | SOLE |  | 0 | 0 | 44192 |
| WP CAREY INC | COM | 92936U109 |  | 654863 | 10175 | SH |  | SOLE |  | 0 | 0 | 10175 |

---