# EDGAR Filing Document

**Accession Number:** 0000842512
**File Stem:** 0000910472-26-003275
**Filing Date:** 2026-2
**Character Count:** 64535
**Document Hash:** f6b138926fbc1ce0565ef84f7d1b2946
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000910472-26-003275.hdr.sgml**: 20260227

**ACCESSION NUMBER**: 0000910472-26-003275

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260227

**DATE AS OF CHANGE**: 20260227

**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:** 26694821

**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 Insider Buying Fund (Series ID: S000082904)

| Class ID   | Class Name                    | Ticker Symbol   |
|:---|:---|:---|
| C000246245 | Davenport Insider Buying Fund |  |

## Nport-Ex

---

| | | |
|:---|:---|:---|
| **DAVENPORT CORE LEADERS FUND** | **DAVENPORT CORE LEADERS FUND** | **DAVENPORT CORE LEADERS FUND** |
| **SCHEDULE OF INVESTMENTS** | **SCHEDULE OF INVESTMENTS** | **SCHEDULE OF INVESTMENTS** |
| **December 31, 2025 (Unaudited)** | **December 31, 2025 (Unaudited)** | **December 31, 2025 (Unaudited)** |
| **COMMON STOCKS - 96.7%** | **Shares** | **Value** |
| **Communications - 10.3%** | **Communications - 10.3%** | **Communications - 10.3%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Alphabet, Inc. - Class A | &nbsp;&nbsp;117912 | &nbsp;&nbsp;$36906456 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Meta Platforms, Inc. - Class A | &nbsp;&nbsp;64565 | &nbsp;&nbsp;42618711 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Spotify Technology S.A. <sup>(a)</sup> | &nbsp;&nbsp;39591 | &nbsp;&nbsp;22990889 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Uber Technologies, Inc. <sup>(a)</sup> | &nbsp;&nbsp;313270 | &nbsp;&nbsp;25597292 |
|  |  | &nbsp;&nbsp;128113348 |
| **Consumer Discretionary - 9.0%** | **Consumer Discretionary - 9.0%** | **Consumer Discretionary - 9.0%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amazon.com, Inc. <sup>(a)</sup> | &nbsp;&nbsp;301467 | &nbsp;&nbsp;69584613 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Home Depot, Inc. (The) | &nbsp;&nbsp;35360 | &nbsp;&nbsp;12167376 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;TJX Companies, Inc. (The) | &nbsp;&nbsp;195356 | &nbsp;&nbsp;30008635 |
|  |  | &nbsp;&nbsp;111760624 |
| **Consumer Staples - 1.6%** | **Consumer Staples - 1.6%** | **Consumer Staples - 1.6%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Costco Wholesale Corporation | &nbsp;&nbsp;22961 | &nbsp;&nbsp;19800189 |
| **Energy - 2.1%** | **Energy - 2.1%** | **Energy - 2.1%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;EOG Resources, Inc. | &nbsp;&nbsp;251952 | &nbsp;&nbsp;26457480 |
| **Financials - 12.8%** | **Financials - 12.8%** | **Financials - 12.8%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Aon plc - Class A | &nbsp;&nbsp;61391 | &nbsp;&nbsp;21663656 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Berkshire Hathaway, Inc. - Class B <sup>(a)</sup> | &nbsp;&nbsp;49522 | &nbsp;&nbsp;24892233 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Brookfield Corporation | &nbsp;&nbsp;1471357 | &nbsp;&nbsp;67520573 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Intercontinental Exchange, Inc. | &nbsp;&nbsp;153815 | &nbsp;&nbsp;24911877 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Markel Group, Inc. <sup>(a)</sup> | &nbsp;&nbsp;9263 | &nbsp;&nbsp;19912208 |
|  |  | &nbsp;&nbsp;158900547 |
| **Health Care - 12.8%** | **Health Care - 12.8%** | **Health Care - 12.8%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Abbott Laboratories | &nbsp;&nbsp;183874 | &nbsp;&nbsp;23037574 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Danaher Corporation | &nbsp;&nbsp;150801 | &nbsp;&nbsp;34521365 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Intuitive Surgical, Inc. <sup>(a)</sup> | &nbsp;&nbsp;38285 | &nbsp;&nbsp;21683093 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Novo Nordisk A/S - ADR | &nbsp;&nbsp;398563 | &nbsp;&nbsp;20278885 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;UnitedHealth Group, Inc. | &nbsp;&nbsp;111311 | &nbsp;&nbsp;36744874 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Vertex Pharmaceuticals, Inc. <sup>(a)</sup> | &nbsp;&nbsp;49884 | &nbsp;&nbsp;22615410 |
|  |  | &nbsp;&nbsp;158881201 |
| **Industrials - 11.6%** | **Industrials - 11.6%** | **Industrials - 11.6%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cintas Corporation | &nbsp;&nbsp;101703 | &nbsp;&nbsp;19127283 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Quanta Services, Inc. | &nbsp;&nbsp;57908 | &nbsp;&nbsp;24440651 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Republic Services, Inc. | &nbsp;&nbsp;80582 | &nbsp;&nbsp;17077743 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Rockwell Automation, Inc. | &nbsp;&nbsp;100505 | &nbsp;&nbsp;39103481 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Trane Technologies plc | &nbsp;&nbsp;45871 | &nbsp;&nbsp;17852993 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Union Pacific Corporation | &nbsp;&nbsp;116869 | &nbsp;&nbsp;27034137 |
|  |  | &nbsp;&nbsp;144636288 |

---

---

| | | |
|:---|:---|:---|
| **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 - 96.7% (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;$31011581 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sherwin-Williams Company (The) | &nbsp;&nbsp;78158 | &nbsp;&nbsp;25325537 |
|  |  | &nbsp;&nbsp;56337118 |
| **Technology - 32.0%** | **Technology - 32.0%** | **Technology - 32.0%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accenture plc - Class A | &nbsp;&nbsp;75471 | &nbsp;&nbsp;20248869 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Adobe, Inc. <sup>(a)</sup> | &nbsp;&nbsp;55750 | &nbsp;&nbsp;19511943 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Analog Devices, Inc. | &nbsp;&nbsp;117206 | &nbsp;&nbsp;31786267 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Apple, Inc. | &nbsp;&nbsp;142574 | &nbsp;&nbsp;38760168 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Broadcom, Inc. | &nbsp;&nbsp;104474 | &nbsp;&nbsp;36158452 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Marvell Technology, Inc. | &nbsp;&nbsp;220132 | &nbsp;&nbsp;18706817 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mastercard, Inc. - Class A | &nbsp;&nbsp;61617 | &nbsp;&nbsp;35175913 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Microsoft Corporation | &nbsp;&nbsp;128742 | &nbsp;&nbsp;62262206 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NVIDIA Corporation | &nbsp;&nbsp;358232 | &nbsp;&nbsp;66810268 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Palo Alto Networks, Inc. <sup>(a)</sup> | &nbsp;&nbsp;105982 | &nbsp;&nbsp;19521884 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ServiceNow, Inc. <sup>(a)</sup> | &nbsp;&nbsp;133720 | &nbsp;&nbsp;20484567 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Visa, Inc. - Class A | &nbsp;&nbsp;80027 | &nbsp;&nbsp;28066269 |
|  |  | &nbsp;&nbsp;397493623 |
| **Total Common Stocks** (Cost $653,729,487) | **Total Common Stocks** (Cost $653,729,487) | &nbsp;&nbsp;$1202380418 |
| **MONEY MARKET FUNDS - 3.3%** | **Shares** | **Value** |
| First American Treasury Obligations Fund -<br> Class X, 3.68% <sup>(b)</sup> (Cost $41,732,405) | &nbsp;&nbsp;41732405 | &nbsp;&nbsp;$41732405 |
| **Total Investments at Value - 100.0%** (Cost $695,461,892) | **Total Investments at Value - 100.0%** (Cost $695,461,892) | &nbsp;&nbsp;$1244112823 |
| **Liabilities in Excess of Other Assets - (0.0%) <sup>(c)</sup>** | **Liabilities in Excess of Other Assets - (0.0%) <sup>(c)</sup>** | &nbsp;&nbsp; (493632) |
| **Net Assets - 100.0%** | **Net Assets - 100.0%** | &nbsp;&nbsp;$1243619191 |

---

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, 2025.

<sup>(c)</sup> Percentage rounds to less than 0.1%.

---

| | | |
|:---|:---|:---|
| **DAVENPORT VALUE & INCOME FUND** | **DAVENPORT VALUE & INCOME FUND** | **DAVENPORT VALUE & INCOME FUND** |
| **SCHEDULE OF INVESTMENTS** | **SCHEDULE OF INVESTMENTS** | **SCHEDULE OF INVESTMENTS** |
| **December 31, 2025 (Unaudited)** | **December 31, 2025 (Unaudited)** | **December 31, 2025 (Unaudited)** |
| **COMMON STOCKS - 95.1%** | **Shares** | **Value** |
| **Communications - 2.5%** | **Communications - 2.5%** | **Communications - 2.5%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Comcast Corporation - Class A | &nbsp;&nbsp;827322 | &nbsp;&nbsp;$24728655 |
| **Consumer Discretionary - 5.3%** | **Consumer Discretionary - 5.3%** | **Consumer Discretionary - 5.3%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Genuine Parts Company | &nbsp;&nbsp;114184 | &nbsp;&nbsp;14040065 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Lowe's Companies, Inc. | &nbsp;&nbsp;75071 | &nbsp;&nbsp;18104122 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;McDonald's Corporation | &nbsp;&nbsp;67919 | &nbsp;&nbsp;20758084 |
|  |  | &nbsp;&nbsp;52902271 |
| **Consumer Staples - 6.1%** | **Consumer Staples - 6.1%** | **Consumer Staples - 6.1%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Anheuser-Busch InBev S.A./N.V. - ADR | &nbsp;&nbsp;504125 | &nbsp;&nbsp;32284165 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;PepsiCo, Inc. | &nbsp;&nbsp;97080 | &nbsp;&nbsp;13932922 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Philip Morris International, Inc. | &nbsp;&nbsp;88820 | &nbsp;&nbsp;14246728 |
|  |  | &nbsp;&nbsp;60463815 |
| **Energy - 9.0%** | **Energy - 9.0%** | **Energy - 9.0%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Chevron Corporation | &nbsp;&nbsp;210481 | &nbsp;&nbsp;32079409 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Enbridge, Inc. | &nbsp;&nbsp;415078 | &nbsp;&nbsp;19853181 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Exxon Mobil Corporation | &nbsp;&nbsp;130485 | &nbsp;&nbsp;15702565 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SLB Ltd. | &nbsp;&nbsp;573631 | &nbsp;&nbsp;22015958 |
|  |  | &nbsp;&nbsp;89651113 |
| **Financials - 24.3%** | **Financials - 24.3%** | **Financials - 24.3%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Berkshire Hathaway, Inc. - Class B <sup>(a)</sup> | &nbsp;&nbsp;42548 | &nbsp;&nbsp;21386752 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Brookfield Asset Management Ltd. - Class A | &nbsp;&nbsp;503572 | &nbsp;&nbsp;26382137 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Brookfield Corporation | &nbsp;&nbsp;544600 | &nbsp;&nbsp;24991694 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Citigroup, Inc. | &nbsp;&nbsp;230835 | &nbsp;&nbsp;26936136 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;F&G Annuities & Life, Inc. | &nbsp;&nbsp;16098 | &nbsp;&nbsp;496631 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fairfax Financial Holdings Ltd. | &nbsp;&nbsp;15651 | &nbsp;&nbsp;29862359 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fidelity National Financial, Inc. | &nbsp;&nbsp;268304 | &nbsp;&nbsp;14646715 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;JPMorgan Chase & Company | &nbsp;&nbsp;89614 | &nbsp;&nbsp;28875423 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Markel Group, Inc. <sup>(a)</sup> | &nbsp;&nbsp;11438 | &nbsp;&nbsp;24587697 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Marsh & McLennan Companies, Inc. | &nbsp;&nbsp;104285 | &nbsp;&nbsp;19346953 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Wells Fargo & Company | &nbsp;&nbsp;255757 | &nbsp;&nbsp;23836552 |
|  |  | &nbsp;&nbsp;241349049 |
| **Health Care - 17.6%** | **Health Care - 17.6%** | **Health Care - 17.6%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Becton, Dickinson and Company | &nbsp;&nbsp;150856 | &nbsp;&nbsp;29276624 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Elevance Health, Inc. | &nbsp;&nbsp;72133 | &nbsp;&nbsp;25286223 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Johnson & Johnson | &nbsp;&nbsp;196306 | &nbsp;&nbsp;40625527 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Medtronic plc | &nbsp;&nbsp;252099 | &nbsp;&nbsp;24216630 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Novo Nordisk A/S - ADR | &nbsp;&nbsp;256065 | &nbsp;&nbsp;13028587 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sanofi - ADR | &nbsp;&nbsp;452417 | &nbsp;&nbsp;21924128 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;UnitedHealth Group, Inc. | &nbsp;&nbsp;61781 | &nbsp;&nbsp;20394526 |
|  |  | &nbsp;&nbsp;174752245 |

---

---

| | | |
|:---|:---|:---|
| **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 - 95.1% (Continued)** | **Shares** | **Value** |
| **Industrials - 17.2%** | **Industrials - 17.2%** | **Industrials - 17.2%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;FedEx Corporation | &nbsp;&nbsp;51370 | &nbsp;&nbsp;$14838738 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Johnson Controls International plc | &nbsp;&nbsp;182612 | &nbsp;&nbsp;21867787 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;L3Harris Technologies, Inc. | &nbsp;&nbsp;123595 | &nbsp;&nbsp;36283784 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Norfolk Southern Corporation | &nbsp;&nbsp;90814 | &nbsp;&nbsp;26219818 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;TE Connectivity plc | &nbsp;&nbsp;144697 | &nbsp;&nbsp;32920014 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;United Parcel Service, Inc. - Class B | &nbsp;&nbsp;175884 | &nbsp;&nbsp;17445934 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Watsco, Inc. | &nbsp;&nbsp;65067 | &nbsp;&nbsp;21924326 |
|  |  | &nbsp;&nbsp;171500401 |
| **Materials - 2.2%** | **Materials - 2.2%** | **Materials - 2.2%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Avery Dennison Corporation | &nbsp;&nbsp;69142 | &nbsp;&nbsp;12575547 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Eastman Chemical Company | &nbsp;&nbsp;154309 | &nbsp;&nbsp;9849543 |
|  |  | &nbsp;&nbsp;22425090 |
| **Real Estate - 5.3%** | **Real Estate - 5.3%** | **Real Estate - 5.3%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;American Tower Corporation | &nbsp;&nbsp;179213 | &nbsp;&nbsp;31464426 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Lamar Advertising Company - Class A | &nbsp;&nbsp;166231 | &nbsp;&nbsp;21041520 |
|  |  | &nbsp;&nbsp;52505946 |
| **Technology - 2.1%** | **Technology - 2.1%** | **Technology - 2.1%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accenture plc - Class A | &nbsp;&nbsp;79532 | &nbsp;&nbsp;21338436 |
| **Utilities - 3.5%** | **Utilities - 3.5%** | **Utilities - 3.5%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NextEra Energy, Inc. | &nbsp;&nbsp;435887 | &nbsp;&nbsp;34993008 |
| **Total Common Stocks** (Cost $685,966,206) | **Total Common Stocks** (Cost $685,966,206) | &nbsp;&nbsp;$946610029 |
| **MONEY MARKET FUNDS - 4.8%** | **Shares** | **Value** |
| First American Treasury Obligations Fund -<br> Class X, 3.68% <sup>(b)</sup> (Cost $47,748,249) | &nbsp;&nbsp;47748249 | &nbsp;&nbsp;$47748249 |
| **Total Investments at Value - 99.9%** (Cost $733,714,455) | **Total Investments at Value - 99.9%** (Cost $733,714,455) | &nbsp;&nbsp;$994358278 |
| **Other Assets in Excess of Liabilities - 0.1%** | **Other Assets in Excess of Liabilities - 0.1%** | &nbsp;&nbsp;735825 |
| **Net Assets - 100.0%** | **Net Assets - 100.0%** | &nbsp;&nbsp;$995094103 |

---

ADR - American Depositary Receipt. <br>

<sup>(a)</sup> Non-income producing security. <br> <sup>(b)</sup> The rate shown is the 7-day effective yield as of December 31, 2025.

---

| | | |
|:---|:---|:---|
| **DAVENPORT EQUITY OPPORTUNITIES FUND** | **DAVENPORT EQUITY OPPORTUNITIES FUND** | **DAVENPORT EQUITY OPPORTUNITIES FUND** |
| **SCHEDULE OF INVESTMENTS** | **SCHEDULE OF INVESTMENTS** | **SCHEDULE OF INVESTMENTS** |
| **December 31, 2025 (Unaudited)** | **December 31, 2025 (Unaudited)** | **December 31, 2025 (Unaudited)** |
| **COMMON STOCKS - 94.9%** | **Shares** | **Value** |
| **Communications - 1.5%** | **Communications - 1.5%** | **Communications - 1.5%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Take-Two Interactive Software, Inc. <sup>(a)</sup> | &nbsp;&nbsp;48112 | &nbsp;&nbsp;$12318115 |
| **Consumer Discretionary - 20.3%** | **Consumer Discretionary - 20.3%** | **Consumer Discretionary - 20.3%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Caesars Entertainment, Inc. <sup>(a)</sup> | &nbsp;&nbsp;963710 | &nbsp;&nbsp;22541177 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;DraftKings, Inc. - Class A <sup>(a)</sup> | &nbsp;&nbsp;1162825 | &nbsp;&nbsp;40070949 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Live Nation Entertainment, Inc. <sup>(a)</sup> | &nbsp;&nbsp;322294 | &nbsp;&nbsp;45926895 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mobileye Global, Inc. - Class A <sup>(a)</sup> | &nbsp;&nbsp;758723 | &nbsp;&nbsp;7921068 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;O'Reilly Automotive, Inc. <sup>(a)</sup> | &nbsp;&nbsp;338801 | &nbsp;&nbsp;30902039 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Wynn Resorts Ltd. | &nbsp;&nbsp;149832 | &nbsp;&nbsp;18029285 |
|  |  | &nbsp;&nbsp;165391413 |
| **Consumer Staples - 2.6%** | **Consumer Staples - 2.6%** | **Consumer Staples - 2.6%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Casey's General Stores, Inc. | &nbsp;&nbsp;38616 | &nbsp;&nbsp;21343449 |
| **Financials - 21.7%** | **Financials - 21.7%** | **Financials - 21.7%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Brookfield Asset Management Ltd. - Class A | &nbsp;&nbsp;434615 | &nbsp;&nbsp;22769480 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Brookfield Corporation | &nbsp;&nbsp;780144 | &nbsp;&nbsp;35800808 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fairfax Financial Holdings Ltd. | &nbsp;&nbsp;18629 | &nbsp;&nbsp;35544430 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Kinsale Capital Group, Inc. | &nbsp;&nbsp;126673 | &nbsp;&nbsp;49544344 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Markel Group, Inc. <sup>(a)</sup> | &nbsp;&nbsp;15456 | &nbsp;&nbsp;33224990 |
|  |  | &nbsp;&nbsp;176884052 |
| **Health Care - 13.3%** | **Health Care - 13.3%** | **Health Care - 13.3%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Agilent Technologies, Inc. | &nbsp;&nbsp;105264 | &nbsp;&nbsp;14323273 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Align Technology, Inc. <sup>(a)</sup> | &nbsp;&nbsp;191866 | &nbsp;&nbsp;29959876 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cooper Companies, Inc. (The) <sup>(a)</sup> | &nbsp;&nbsp;248021 | &nbsp;&nbsp;20327801 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Elevance Health, Inc. | &nbsp;&nbsp;69063 | &nbsp;&nbsp;24210035 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Enovis Corporation <sup>(a)</sup> | &nbsp;&nbsp;723780 | &nbsp;&nbsp;19281499 |
|  |  | &nbsp;&nbsp;108102484 |
| **Industrials - 20.0%** | **Industrials - 20.0%** | **Industrials - 20.0%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Carrier Global Corporation | &nbsp;&nbsp;377403 | &nbsp;&nbsp;19941974 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Clean Harbors, Inc. <sup>(a)</sup> | &nbsp;&nbsp;185909 | &nbsp;&nbsp;43591942 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ESAB Corporation | &nbsp;&nbsp;293047 | &nbsp;&nbsp;32739211 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Generac Holdings, Inc. <sup>(a)</sup> | &nbsp;&nbsp;118853 | &nbsp;&nbsp;16207984 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Watsco, Inc. | &nbsp;&nbsp;60217 | &nbsp;&nbsp;20290118 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Xylem, Inc. | &nbsp;&nbsp;220599 | &nbsp;&nbsp;30041172 |
|  |  | &nbsp;&nbsp;162812401 |
| **Materials - 7.4%** | **Materials - 7.4%** | **Materials - 7.4%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Martin Marietta Materials, Inc. | &nbsp;&nbsp;58260 | &nbsp;&nbsp;36276171 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sherwin-Williams Company (The) | &nbsp;&nbsp;73687 | &nbsp;&nbsp;23876799 |
|  |  | &nbsp;&nbsp;60152970 |

---

---

| | | |
|:---|:---|:---|
| **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 - 94.9% (Continued)** | **Shares** | **Value** |
| **Real Estate - 4.9%** | **Real Estate - 4.9%** | **Real Estate - 4.9%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;American Tower Corporation | &nbsp;&nbsp;123670 | &nbsp;&nbsp;$21712742 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Lamar Advertising Company - Class A | &nbsp;&nbsp;140427 | &nbsp;&nbsp;17775250 |
|  |  | &nbsp;&nbsp;39487992 |
| **Technology - 3.2%** | **Technology - 3.2%** | **Technology - 3.2%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Okta, Inc. <sup>(a)</sup> | &nbsp;&nbsp;303510 | &nbsp;&nbsp;26244510 |
| **Total Common Stocks** (Cost $547,193,092) | **Total Common Stocks** (Cost $547,193,092) | &nbsp;&nbsp;$772737386 |
| **MONEY MARKET FUNDS - 5.1%** | **Shares** | **Value** |
| First American Treasury Obligations Fund -<br> Class X, 3.68% <sup>(b)</sup> (Cost $41,473,860) | &nbsp;&nbsp;41473860 | &nbsp;&nbsp;$41473860 |
| **Total Investments at Value - 100.0%** (Cost $588,666,952) | **Total Investments at Value - 100.0%** (Cost $588,666,952) | &nbsp;&nbsp;$814211246 |
| **Liabilities in Excess of Other Assets - (0.0%) <sup>(c)</sup>** | **Liabilities in Excess of Other Assets - (0.0%) <sup>(c)</sup>** | &nbsp;&nbsp; (165382) |
| **Net Assets - 100.0%** | **Net Assets - 100.0%** | &nbsp;&nbsp;$814045864 |

---

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

<sup>(b)</sup> The rate shown is the 7-day effective yield as of December 31, 2025.

<sup>(c)</sup> Percentage rounds to less than 0.1%.

---

| | | |
|:---|:---|:---|
| **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, 2025 (Unaudited)** | **December 31, 2025 (Unaudited)** | **December 31, 2025 (Unaudited)** |
| **COMMON STOCKS - 96.9%** | **Shares** | **Value** |
| **Communications - 6.9%** | **Communications - 6.9%** | **Communications - 6.9%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cable One, Inc. | &nbsp;&nbsp;164410 | &nbsp;&nbsp;$18553669 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;DigitalBridge Group, Inc. | &nbsp;&nbsp;190880 | &nbsp;&nbsp;2928099 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Liberty Live Holdings, Inc. - Class C <sup>(a)</sup> | &nbsp;&nbsp;166476 | &nbsp;&nbsp;13844144 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Stubhub Holdings, Inc. - Class A <sup>(a)</sup> | &nbsp;&nbsp;728253 | &nbsp;&nbsp;9853263 |
|  |  | &nbsp;&nbsp;45179175 |
| **Consumer Discretionary - 21.2%** | **Consumer Discretionary - 21.2%** | **Consumer Discretionary - 21.2%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Caesars Entertainment, Inc. <sup>(a)</sup> | &nbsp;&nbsp;1290792 | &nbsp;&nbsp;30191625 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;DraftKings, Inc. - Class A <sup>(a)</sup> | &nbsp;&nbsp;306877 | &nbsp;&nbsp;10574981 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Golden Entertainment, Inc. | &nbsp;&nbsp;340691 | &nbsp;&nbsp;9263388 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Monarch Casino & Resort, Inc. | &nbsp;&nbsp;599107 | &nbsp;&nbsp;57334540 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;OneSpaWorld Holdings Ltd. | &nbsp;&nbsp;1487477 | &nbsp;&nbsp;30850273 |
|  |  | &nbsp;&nbsp;138214807 |
| **Consumer Staples - 3.3%** | **Consumer Staples - 3.3%** | **Consumer Staples - 3.3%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;J & J Snack Foods Corporation | &nbsp;&nbsp;233396 | &nbsp;&nbsp;21091997 |
| **Energy - 6.0%** | **Energy - 6.0%** | **Energy - 6.0%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;California Resources Corporation | &nbsp;&nbsp;752703 | &nbsp;&nbsp;33653351 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;CNX Resources Corporation <sup>(a)</sup> | &nbsp;&nbsp;148470 | &nbsp;&nbsp;5459242 |
|  |  | &nbsp;&nbsp;39112593 |
| **Financials - 14.7%** | **Financials - 14.7%** | **Financials - 14.7%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Atlantic Union Bankshares Corporation | &nbsp;&nbsp;511882 | &nbsp;&nbsp;18069435 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bowhead Specialty Holdings, Inc. <sup>(a)</sup> | &nbsp;&nbsp;274784 | &nbsp;&nbsp;7842335 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Kinsale Capital Group, Inc. | &nbsp;&nbsp;113098 | &nbsp;&nbsp;44234890 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Stewart Information Services Corporation | &nbsp;&nbsp;364909 | &nbsp;&nbsp;25638506 |
|  |  | &nbsp;&nbsp;95785166 |
| **Health Care - 8.4%** | **Health Care - 8.4%** | **Health Care - 8.4%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Enovis Corporation <sup>(a)</sup> | &nbsp;&nbsp;1118443 | &nbsp;&nbsp;29795322 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;HealthEquity, Inc. <sup>(a)</sup> | &nbsp;&nbsp;274228 | &nbsp;&nbsp;25122027 |
|  |  | &nbsp;&nbsp;54917349 |
| **Industrials - 26.8%** | **Industrials - 26.8%** | **Industrials - 26.8%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cognex Corporation | &nbsp;&nbsp;477627 | &nbsp;&nbsp;17185019 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ESAB Corporation | &nbsp;&nbsp;339323 | &nbsp;&nbsp;37909166 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Generac Holdings, Inc. <sup>(a)</sup> | &nbsp;&nbsp;141854 | &nbsp;&nbsp;19344630 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Hexcel Corporation | &nbsp;&nbsp;391528 | &nbsp;&nbsp;28933919 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Janus International Group, Inc. <sup>(a)</sup> | &nbsp;&nbsp;2278701 | &nbsp;&nbsp;14902705 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Kirby Corporation <sup>(a)</sup> | &nbsp;&nbsp;248234 | &nbsp;&nbsp;27350422 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Verra Mobility Corporation - Class A <sup>(a)</sup> | &nbsp;&nbsp;1294580 | &nbsp;&nbsp;29011538 |
|  |  | &nbsp;&nbsp;174637399 |
| **Materials - 4.7%** | **Materials - 4.7%** | **Materials - 4.7%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NewMarket Corporation | &nbsp;&nbsp;15333 | &nbsp;&nbsp;10537758 |

---

---

| | | |
|:---|:---|:---|
| **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 - 96.9% (Continued)** | **Shares** | **Value** |
| **Materials - 4.7% (Continued)** | **Materials - 4.7% (Continued)** | **Materials - 4.7% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Trex Company, Inc. <sup>(a)</sup> | &nbsp;&nbsp;564680 | &nbsp;&nbsp;$19808974 |
|  |  | &nbsp;&nbsp;30346732 |
| **Real Estate - 4.9%** | **Real Estate - 4.9%** | **Real Estate - 4.9%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Americold Realty Trust, Inc. | &nbsp;&nbsp;2498890 | &nbsp;&nbsp;32135725 |
| **Total Common Stocks** (Cost $579,695,092) | **Total Common Stocks** (Cost $579,695,092) | &nbsp;&nbsp;$631420943 |
| **MONEY MARKET FUNDS - 3.0%** | **Shares** | **Value** |
| First American Treasury Obligations Fund -<br> Class X, 3.68% <sup>(b)</sup> (Cost $19,573,941) | &nbsp;&nbsp;19573941 | &nbsp;&nbsp;$19573941 |
| **Total Investments at Value - 99.9%** (Cost $599,269,033) | **Total Investments at Value - 99.9%** (Cost $599,269,033) | &nbsp;&nbsp;$650994884 |
| **Other Assets in Excess of Liabilities - 0.1%** | **Other Assets in Excess of Liabilities - 0.1%** | &nbsp;&nbsp;526190 |
| **Net Assets - 100.0%** | **Net Assets - 100.0%** | &nbsp;&nbsp;$651521074 |

---

<sup>(a)</sup> Non-income producing security. <br> <sup>(b)</sup> The rate shown is the 7-day effective yield as of December 31, 2025.

---

| | | |
|:---|:---|:---|
| **DAVENPORT BALANCED INCOME FUND** | **DAVENPORT BALANCED INCOME FUND** | **DAVENPORT BALANCED INCOME FUND** |
| **SCHEDULE OF INVESTMENTS** | **SCHEDULE OF INVESTMENTS** | **SCHEDULE OF INVESTMENTS** |
| **December 31, 2025 (Unaudited)** | **December 31, 2025 (Unaudited)** | **December 31, 2025 (Unaudited)** |
| **COMMON STOCKS - 54.6%** | **Shares** | **Value** |
| **Communications - 1.4%** | **Communications - 1.4%** | **Communications - 1.4%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Comcast Corporation - Class A | &nbsp;&nbsp;124487 | &nbsp;&nbsp;$3720917 |
| **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;2120691 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Lowe's Companies, Inc. | &nbsp;&nbsp;11344 | &nbsp;&nbsp;2735719 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;McDonald's Corporation | &nbsp;&nbsp;9828 | &nbsp;&nbsp;3003732 |
|  |  | &nbsp;&nbsp;7860142 |
| **Consumer Staples - 4.1%** | **Consumer Staples - 4.1%** | **Consumer Staples - 4.1%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Anheuser-Busch InBev S.A./N.V. - ADR | &nbsp;&nbsp;74741 | &nbsp;&nbsp;4786414 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;PepsiCo, Inc. | &nbsp;&nbsp;14405 | &nbsp;&nbsp;2067405 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Philip Morris International, Inc. | &nbsp;&nbsp;13175 | &nbsp;&nbsp;2113270 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Smithfield Foods, Inc. | &nbsp;&nbsp;104000 | &nbsp;&nbsp;2322320 |
|  |  | &nbsp;&nbsp;11289409 |
| **Energy - 5.9%** | **Energy - 5.9%** | **Energy - 5.9%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Chevron Corporation | &nbsp;&nbsp;31803 | &nbsp;&nbsp;4847095 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Enbridge, Inc. | &nbsp;&nbsp;60275 | &nbsp;&nbsp;2882953 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Enterprise Products Partners, L.P. | &nbsp;&nbsp;87000 | &nbsp;&nbsp;2789220 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Exxon Mobil Corporation | &nbsp;&nbsp;19361 | &nbsp;&nbsp;2329903 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;SLB Ltd. | &nbsp;&nbsp;86921 | &nbsp;&nbsp;3336028 |
|  |  | &nbsp;&nbsp;16185199 |
| **Financials - 13.0%** | **Financials - 13.0%** | **Financials - 13.0%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Berkshire Hathaway, Inc. - Class B <sup>(a)</sup> | &nbsp;&nbsp;6141 | &nbsp;&nbsp;3086774 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Brookfield Asset Management Ltd. - Class A | &nbsp;&nbsp;76217 | &nbsp;&nbsp;3993009 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Brookfield Corporation | &nbsp;&nbsp;80532 | &nbsp;&nbsp;3695613 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Citigroup, Inc. | &nbsp;&nbsp;33536 | &nbsp;&nbsp;3913316 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;F&G Annuities & Life, Inc. | &nbsp;&nbsp;2345 | &nbsp;&nbsp;72333 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fairfax Financial Holdings Ltd. | &nbsp;&nbsp;2340 | &nbsp;&nbsp;4464758 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fidelity National Financial, Inc. | &nbsp;&nbsp;39078 | &nbsp;&nbsp;2133268 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;JPMorgan Chase & Company | &nbsp;&nbsp;13486 | &nbsp;&nbsp;4345459 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Markel Group, Inc. <sup>(a)</sup> | &nbsp;&nbsp;1665 | &nbsp;&nbsp;3579167 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Marsh & McLennan Companies, Inc. | &nbsp;&nbsp;15464 | &nbsp;&nbsp;2868881 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Wells Fargo & Company | &nbsp;&nbsp;37851 | &nbsp;&nbsp;3527713 |
|  |  | &nbsp;&nbsp;35680291 |
| **Health Care - 9.5%** | **Health Care - 9.5%** | **Health Care - 9.5%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Becton, Dickinson and Company | &nbsp;&nbsp;23020 | &nbsp;&nbsp;4467491 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Elevance Health, Inc. | &nbsp;&nbsp;10726 | &nbsp;&nbsp;3759999 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Johnson & Johnson | &nbsp;&nbsp;28470 | &nbsp;&nbsp;5891867 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Medtronic plc | &nbsp;&nbsp;36857 | &nbsp;&nbsp;3540484 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Novo Nordisk A/S - ADR | &nbsp;&nbsp;37975 | &nbsp;&nbsp;1932168 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sanofi - ADR | &nbsp;&nbsp;68467 | &nbsp;&nbsp;3317911 |

---

---

| | | |
|:---|:---|:---|
| **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 - 54.6% (Continued)** | **Shares** | **Value** |
| **Health Care - 9.5% (Continued)** | **Health Care - 9.5% (Continued)** | **Health Care - 9.5% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;UnitedHealth Group, Inc. | &nbsp;&nbsp;9182 | &nbsp;&nbsp;$3031070 |
|  |  | &nbsp;&nbsp;25940990 |
| **Industrials - 9.2%** | **Industrials - 9.2%** | **Industrials - 9.2%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;FedEx Corporation | &nbsp;&nbsp;7451 | &nbsp;&nbsp;2152296 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Johnson Controls International plc | &nbsp;&nbsp;28026 | &nbsp;&nbsp;3356114 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;L3Harris Technologies, Inc. | &nbsp;&nbsp;18428 | &nbsp;&nbsp;5409908 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Norfolk Southern Corporation | &nbsp;&nbsp;13517 | &nbsp;&nbsp;3902628 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;TE Connectivity plc | &nbsp;&nbsp;20730 | &nbsp;&nbsp;4716282 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;United Parcel Service, Inc. - Class B | &nbsp;&nbsp;26017 | &nbsp;&nbsp;2580626 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Watsco, Inc. | &nbsp;&nbsp;9654 | &nbsp;&nbsp;3252915 |
|  |  | &nbsp;&nbsp;25370769 |
| **Materials - 1.2%** | **Materials - 1.2%** | **Materials - 1.2%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Avery Dennison Corporation | &nbsp;&nbsp;10339 | &nbsp;&nbsp;1880457 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Eastman Chemical Company | &nbsp;&nbsp;23036 | &nbsp;&nbsp;1470388 |
|  |  | &nbsp;&nbsp;3350845 |
| **Real Estate - 2.8%** | **Real Estate - 2.8%** | **Real Estate - 2.8%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;American Tower Corporation | &nbsp;&nbsp;26593 | &nbsp;&nbsp;4668933 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Lamar Advertising Company - Class A | &nbsp;&nbsp;24867 | &nbsp;&nbsp;3147665 |
|  |  | &nbsp;&nbsp;7816598 |
| **Technology - 1.2%** | **Technology - 1.2%** | **Technology - 1.2%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accenture plc - Class A | &nbsp;&nbsp;11789 | &nbsp;&nbsp;3162989 |
| **Utilities - 3.4%** | **Utilities - 3.4%** | **Utilities - 3.4%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Brookfield Infrastructure Partners, L.P. | &nbsp;&nbsp;61867 | &nbsp;&nbsp;2149260 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Brookfield Renewable Partners, L.P. | &nbsp;&nbsp;76999 | &nbsp;&nbsp;2076663 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NextEra Energy, Inc. | &nbsp;&nbsp;63059 | &nbsp;&nbsp;5062376 |
|  |  | &nbsp;&nbsp;9288299 |
| **Total Common Stocks** (Cost $112,233,499) | **Total Common Stocks** (Cost $112,233,499) | &nbsp;&nbsp;$149666448 |
| **FIXED RATE CORPORATE BONDS - 22.6%** | **Par Value** | **Value** |
| **Communications - 1.9%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Meta Platforms, Inc., 4.950%, due 05/15/2033 | &nbsp;&nbsp;$4990000 | &nbsp;&nbsp;$5145197 |
| **Consumer Staples - 2.1%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Keurig Dr Pepper, Inc., 5.050%, due 03/15/2029 | &nbsp;&nbsp;2500000 | &nbsp;&nbsp;2552738 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Phillip Morris International, Inc., 5.375%, <br> due 02/15/2033 | &nbsp;&nbsp;2995000 | &nbsp;&nbsp;3137054 |
|  |  | &nbsp;&nbsp;5689792 |

---

---

| | | |
|:---|:---|:---|
| **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 - 22.6% (Continued)** | **Par Value** | **Value** |
| **Energy - 5.9%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Boardwalk Pipelines, L.P., 4.450%, due 07/15/2027 | &nbsp;&nbsp;$2200000 | &nbsp;&nbsp;$2208241 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;BP Capital Markets America, 4.812%,<br> due 02/13/2033 | &nbsp;&nbsp;2990000 | &nbsp;&nbsp;3032882 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;MPLX, L.P., 4.125%, due 03/01/2027 | &nbsp;&nbsp;3250000 | &nbsp;&nbsp;3251505 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Occidental Petroleum Corporation, |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, due 08/01/2027 | &nbsp;&nbsp;2000000 | &nbsp;&nbsp;2036576 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.550%, due 10/01/2034 | &nbsp;&nbsp;3500000 | &nbsp;&nbsp;3571008 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ONEOK, Inc., 5.550%, due 11/01/2026 | &nbsp;&nbsp;1995000 | &nbsp;&nbsp;2016611 |
|  |  | &nbsp;&nbsp;16116823 |
| **Financials - 3.6%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;BlackRock, Inc., 4.750%, due 05/25/2033 | &nbsp;&nbsp;3000000 | &nbsp;&nbsp;3074461 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Charles Schwab Corporation (The), 5.875%,<br> due 08/24/2026 | &nbsp;&nbsp;3750000 | &nbsp;&nbsp;3791182 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Royal Bank of Canada, 5.000%, due 05/02/2033 | &nbsp;&nbsp;3000000 | &nbsp;&nbsp;3086340 |
|  |  | &nbsp;&nbsp;9951983 |
| **Health Care - 4.1%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Bristol-Myers Squibb Company, 5.900%,<br> due 11/15/2033 | &nbsp;&nbsp;1475000 | &nbsp;&nbsp;1615042 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;HCA, Inc., 5.450%, due 04/01/2031 | &nbsp;&nbsp;3500000 | &nbsp;&nbsp;3655934 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Merck & Company, Inc., |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.450%, due 12/04/2032 | &nbsp;&nbsp;3581000 | &nbsp;&nbsp;3592425 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.500%, due 05/17/2033 | &nbsp;&nbsp;2490000 | &nbsp;&nbsp;2517319 |
|  |  | &nbsp;&nbsp;11380720 |
| **Industrials - 0.7%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Waste Management, Inc., 4.875%, due 02/15/2029 | &nbsp;&nbsp;1995000 | &nbsp;&nbsp;2047539 |
| **Materials - 2.3%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ferguson Enterprises, Inc., 4.350%, due 03/15/2031 | &nbsp;&nbsp;3200000 | &nbsp;&nbsp;3191789 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Sherwin-Williams Company (The), 4.300%,<br> due 08/15/2028 | &nbsp;&nbsp;3000000 | &nbsp;&nbsp;3019393 |
|  |  | &nbsp;&nbsp;6211182 |
| **Technology - 2.0%** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fiserv, Inc., 3.200%, due 07/01/2026 | &nbsp;&nbsp;2325000 | &nbsp;&nbsp;2314995 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Paychex, Inc., 5.100%, due 04/15/2030 | &nbsp;&nbsp;3000000 | &nbsp;&nbsp;3091166 |
|  |  | &nbsp;&nbsp;5406161 |
| **Total Fixed Rate Corporate Bonds** (Cost $60,679,700) | **Total Fixed Rate Corporate Bonds** (Cost $60,679,700) | &nbsp;&nbsp;$61949397 |

---

---

| | | |
|:---|:---|:---|
| **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 - 0.9%** | **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;4.800%, due 03/01/2033 (Cost $2,523,121) | &nbsp;&nbsp;$2455000 | &nbsp;&nbsp;$2528395 |
| **U.S. GOVERNMENT & AGENCY OBLIGATIONS - 11.0%** | **Par Value** | **Value** |
| **Federal Farm Credit Bank - 7.6%** | **Federal Farm Credit Bank - 7.6%** | **Federal Farm Credit Bank - 7.6%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.940%, due 03/24/2034 | &nbsp;&nbsp;$5000000 | &nbsp;&nbsp;$4997881 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.550%, due 01/02/2035 | &nbsp;&nbsp;1000000 | &nbsp;&nbsp;1000000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.030%, due 10/15/2035 | &nbsp;&nbsp;5000000 | &nbsp;&nbsp;4994093 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.000%, due 10/29/2035 | &nbsp;&nbsp;5000000 | &nbsp;&nbsp;4990752 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.330%, due 10/17/2039 | &nbsp;&nbsp;5000000 | &nbsp;&nbsp;4995714 |
|  |  | &nbsp;&nbsp;20978440 |
| **Federal Home Loan Bank - 3.4%** | **Federal Home Loan Bank - 3.4%** | **Federal Home Loan Bank - 3.4%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.250%, due 03/20/2035 | &nbsp;&nbsp;5000000 | &nbsp;&nbsp;5013212 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.150%, due 06/04/2038 | &nbsp;&nbsp;2750000 | &nbsp;&nbsp;2749447 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.550%, due 09/12/2039 | &nbsp;&nbsp;1500000 | &nbsp;&nbsp;1499246 |
|  |  | &nbsp;&nbsp;9261905 |
| **Total U.S. Government & Agency Obligations** (Cost $30,183,768) | **Total U.S. Government & Agency Obligations** (Cost $30,183,768) | &nbsp;&nbsp;$30240345 |
| **U.S. TREASURY OBLIGATIONS - 1.6%** | **Par Value** | **Value** |
| **U.S. Treasury Notes - 1.6%** | **U.S. Treasury Notes - 1.6%** | **U.S. Treasury Notes - 1.6%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.875%, due 04/30/2026 | &nbsp;&nbsp;$2500000 | &nbsp;&nbsp;$2510156 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.875%, due 08/15/2033 | &nbsp;&nbsp;2000000 | &nbsp;&nbsp;1986797 |
| **Total U.S. Treasury Obligations** (Cost $4,381,320) |  | &nbsp;&nbsp;$4496953 |

---

---

| | | |
|:---|:---|:---|
| **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 - 8.8%** | **Shares** | **Value** |
| First American Treasury Obligations Fund -<br> Class X, 3.68% <sup>(b)</sup> (Cost $24,165,982) | &nbsp;&nbsp;24165982 | &nbsp;&nbsp;$24165982 |
| **Total Investments at Value - 99.5%** (Cost $234,167,390) | **Total Investments at Value - 99.5%** (Cost $234,167,390) | &nbsp;&nbsp;$273047520 |
| **Other Assets in Excess of Liabilities - 0.5%** | **Other Assets in Excess of Liabilities - 0.5%** | &nbsp;&nbsp;1309604 |
| **Net Assets - 100.0%** | **Net Assets - 100.0%** | &nbsp;&nbsp;$274357124 |

---

ADR - American Depositary Receipt. <br>

<sup>(a)</sup> Non-income producing security. <br> <sup>(b)</sup> The rate shown is the 7-day effective yield as of December 31, 2025.

---

| | | |
|:---|:---|:---|
| **DAVENPORT INSIDER BUYING FUND** | **DAVENPORT INSIDER BUYING FUND** | **DAVENPORT INSIDER BUYING FUND** |
| **SCHEDULE OF INVESTMENTS** | **SCHEDULE OF INVESTMENTS** | **SCHEDULE OF INVESTMENTS** |
| **December 31, 2025 (Unaudited)** | **December 31, 2025 (Unaudited)** | **December 31, 2025 (Unaudited)** |
| **COMMON STOCKS - 96.8%** | **Shares** | **Value** |
| **Communications - 1.7%** | **Communications - 1.7%** | **Communications - 1.7%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Charter Communications, Inc. - Class A <sup>(a)</sup> | &nbsp;&nbsp;7000 | &nbsp;&nbsp;$1461250 |
| **Consumer Discretionary - 10.1%** | **Consumer Discretionary - 10.1%** | **Consumer Discretionary - 10.1%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Builders FirstSource, Inc. <sup>(a)</sup> | &nbsp;&nbsp;16000 | &nbsp;&nbsp;1646240 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;DraftKings, Inc. - Class A <sup>(a)</sup> | &nbsp;&nbsp;40000 | &nbsp;&nbsp;1378400 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;LKQ Corporation | &nbsp;&nbsp;45000 | &nbsp;&nbsp;1359000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NIKE, Inc. - Class B | &nbsp;&nbsp;41500 | &nbsp;&nbsp;2643965 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Wynn Resorts Ltd. | &nbsp;&nbsp;13000 | &nbsp;&nbsp;1564290 |
|  |  | &nbsp;&nbsp;8591895 |
| **Consumer Staples - 2.2%** | **Consumer Staples - 2.2%** | **Consumer Staples - 2.2%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Darling Ingredients, Inc. <sup>(a)</sup> | &nbsp;&nbsp;53000 | &nbsp;&nbsp;1908000 |
| **Energy - 3.7%** | **Energy - 3.7%** | **Energy - 3.7%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ConocoPhillips | &nbsp;&nbsp;34000 | &nbsp;&nbsp;3182740 |
| **Financials - 6.8%** | **Financials - 6.8%** | **Financials - 6.8%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Aon plc - Class A | &nbsp;&nbsp;7300 | &nbsp;&nbsp;2576024 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Charles Schwab Corporation (The) | &nbsp;&nbsp;32500 | &nbsp;&nbsp;3247075 |
|  |  | &nbsp;&nbsp;5823099 |
| **Health Care - 15.6%** | **Health Care - 15.6%** | **Health Care - 15.6%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Align Technology, Inc. <sup>(a)</sup> | &nbsp;&nbsp;14000 | &nbsp;&nbsp;2186100 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Becton, Dickinson and Company | &nbsp;&nbsp;11000 | &nbsp;&nbsp;2134770 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cooper Companies, Inc. (The) <sup>(a)</sup> | &nbsp;&nbsp;32500 | &nbsp;&nbsp;2663700 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Elevance Health, Inc. | &nbsp;&nbsp;7000 | &nbsp;&nbsp;2453850 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Eli Lilly & Company | &nbsp;&nbsp;1300 | &nbsp;&nbsp;1397084 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Zimmer Biomet Holdings, Inc. | &nbsp;&nbsp;28000 | &nbsp;&nbsp;2517760 |
|  |  | &nbsp;&nbsp;13353264 |
| **Industrials - 24.0%** | **Industrials - 24.0%** | **Industrials - 24.0%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Amphenol Corporation - Class A | &nbsp;&nbsp;16000 | &nbsp;&nbsp;2162240 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Carrier Global Corporation | &nbsp;&nbsp;33500 | &nbsp;&nbsp;1770140 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Clean Harbors, Inc. <sup>(a)</sup> | &nbsp;&nbsp;11000 | &nbsp;&nbsp;2579280 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Eaton Corporation plc | &nbsp;&nbsp;7500 | &nbsp;&nbsp;2388825 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Emerson Electric Company | &nbsp;&nbsp;18000 | &nbsp;&nbsp;2388960 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;FedEx Corporation | &nbsp;&nbsp;7000 | &nbsp;&nbsp;2022020 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Hexcel Corporation | &nbsp;&nbsp;33000 | &nbsp;&nbsp;2438700 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Keysight Technologies, Inc. <sup>(a)</sup> | &nbsp;&nbsp;14000 | &nbsp;&nbsp;2844660 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;United Parcel Service, Inc. - Class B | &nbsp;&nbsp;20000 | &nbsp;&nbsp;1983800 |
|  |  | &nbsp;&nbsp;20578625 |
| **Materials - 8.2%** | **Materials - 8.2%** | **Materials - 8.2%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Corteva, Inc. | &nbsp;&nbsp;27500 | &nbsp;&nbsp;1843325 |

---

---

| | | |
|:---|:---|:---|
| **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 - 96.8% (Continued)** | **Shares** | **Value** |
| **Materials - 8.2% (Continued)** | **Materials - 8.2% (Continued)** | **Materials - 8.2% (Continued)** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;International Flavors & Fragrances, Inc. | &nbsp;&nbsp;37500 | &nbsp;&nbsp;$2527125 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Martin Marietta Materials, Inc. | &nbsp;&nbsp;4300 | &nbsp;&nbsp;2677438 |
|  |  | &nbsp;&nbsp;7047888 |
| **Technology - 21.2%** | **Technology - 21.2%** | **Technology - 21.2%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Applied Materials, Inc. | &nbsp;&nbsp;8500 | &nbsp;&nbsp;2184415 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Booz Allen Hamilton Holding Corporation | &nbsp;&nbsp;20000 | &nbsp;&nbsp;1687200 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Leidos Holdings, Inc. | &nbsp;&nbsp;9000 | &nbsp;&nbsp;1623600 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Marvell Technology, Inc. | &nbsp;&nbsp;30000 | &nbsp;&nbsp;2549400 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Mastercard, Inc. - Class A | &nbsp;&nbsp;4800 | &nbsp;&nbsp;2740224 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;MSCI, Inc. | &nbsp;&nbsp;4700 | &nbsp;&nbsp;2696531 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;TransUnion | &nbsp;&nbsp;26000 | &nbsp;&nbsp;2229500 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Zebra Technologies Corporation - Class A <sup>(a)</sup> | &nbsp;&nbsp;10000 | &nbsp;&nbsp;2428200 |
|  |  | &nbsp;&nbsp;18139070 |
| **Utilities - 3.3%** | **Utilities - 3.3%** | **Utilities - 3.3%** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;NextEra Energy, Inc. | &nbsp;&nbsp;35000 | &nbsp;&nbsp;2809800 |
| **Total Common Stocks** (Cost $75,112,002) | **Total Common Stocks** (Cost $75,112,002) | &nbsp;&nbsp;$82895631 |
| **MONEY MARKET FUNDS - 3.2%** | **Shares** | **Value** |
| First American Treasury Obligations Fund -<br> Class X, 3.68% <sup>(b)</sup> (Cost $2,727,428) | &nbsp;&nbsp;2727428 | &nbsp;&nbsp;$2727428 |
| **Total Investments at Value - 100.0%** (Cost $77,839,430) | **Total Investments at Value - 100.0%** (Cost $77,839,430) | &nbsp;&nbsp;$85623059 |
| **Other Assets in Excess of Liabilities - 0.0% <sup>(c)</sup>** | **Other Assets in Excess of Liabilities - 0.0% <sup>(c)</sup>** | &nbsp;&nbsp;10556 |
| **Net Assets - 100.0%** | **Net Assets - 100.0%** | &nbsp;&nbsp;$85633615 |

---

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

<sup>(b)</sup> The rate shown is the 7-day effective yield as of December 31, 2025.

<sup>(c)</sup> Percentage rounds to less than 0.1%.

## 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 INSIDER BUYING FUND

- **b. EDGAR series identifier (if any):** S000082904

- **c. LEI of Series:** 254900SRN56HUEEUFX65

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

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

- **b. Date as of which information is reported:** 2025-12-31

**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:** $85698928.30

**Total Liabilities:** $65312.87

**Net Assets:** $85633615.43

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000246245 | 0.54%                | 2.80%                | -0.17%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $370759.13               | $193968.07                                 |
| Month 2  | $157319.27               | $2060520.25                                |
| Month 3  | $484412.15               | $-627553.19                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Align Technology Inc.                   | Align Technology, Inc.                           | CUSIP: 016255101<br>LEI: 549300N5YSE0U3LCP840 | Long             | EC               | CORP              | US        |     14000 | NS      | $2186100.00   | 2.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Amphenol Corporation                    | Amphenol Corporation Class A                     | CUSIP: 032095101<br>LEI: 549300D3L3G0R4U4VT04 | Long             | EC               | CORP              | US        |     16000 | NS      | $2162240.00   | 2.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Elevance Health Inc.                    | Elevance Health, Inc.                            | CUSIP: 036752103<br>LEI: 8MYN82XMYQH89CTMTH67 | Long             | EC               | CORP              | US        |      7000 | NS      | $2453850.00   | 2.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Applied Materials Inc.                  | Applied Materials, Inc.                          | CUSIP: 038222105<br>LEI: 41BNNE1AFPNAZELZ6K07 | Long             | EC               | CORP              | US        |      8500 | NS      | $2184415.00   | 2.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Becton, Dickinson and Company           | Becton Dickinson & Company                       | CUSIP: 075887109<br>LEI: ICE2EP6D98PQUILVRZ91 | Long             | EC               | CORP              | US        |     11000 | NS      | $2134770.00   | 2.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Booz Allen Hamilton Holding Corp.       | Booz Allen Hamilton Holding Corporation          | CUSIP: 099502106<br>LEI: 529900JPV47PIUWMA015 | Long             | EC               | CORP              | US        |     20000 | NS      | $1687200.00   | 1.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Builders Firstsource, Inc.              | Builders FirstSource, Inc.                       | CUSIP: 12008R107<br>LEI: 549300W0SKP6L3H7DP63 | Long             | EC               | CORP              | US        |     16000 | NS      | $1646240.00   | 1.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Carrier Global Corporation              | Carrier Global Corporation                       | CUSIP: 14448C104<br>LEI: 549300JE3W6CWY2NAN77 | Long             | EC               | CORP              | US        |     33500 | NS      | $1770140.00   | 2.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Charter Communications, Inc.            | Charter Communications, Inc. Class A             | CUSIP: 16119P108<br>LEI: 0J0XRGZE3PBRFEZ7MV65 | Long             | EC               | CORP              | US        |      7000 | NS      | $1461250.00   | 1.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Clean Harbors, Inc.                     | Clean Harbors, Inc.                              | CUSIP: 184496107<br>LEI: 5493000SJVZVZJKHJF48 | Long             | EC               | CORP              | US        |     11000 | NS      | $2579280.00   | 3.01%             |  |  |  | No            |                  1 | On Loan: No      |
| ConocoPhillips                          | ConocoPhillips                                   | CUSIP: 20825C104<br>LEI: WPTL2Z3FIYTHSP5V2253 | Long             | EC               | CORP              | US        |     34000 | NS      | $3182740.00   | 3.72%             |  |  |  | No            |                  1 | On Loan: No      |
| The Cooper Companies, Inc.              | Cooper Companies, Inc. (The)                     | CUSIP: 216648501<br>LEI: QJKMVPIGLH7530PCUE20 | Long             | EC               | CORP              | US        |     32500 | NS      | $2663700.00   | 3.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Corteva Inc                             | Corteva, Inc.                                    | CUSIP: 22052L104<br>LEI: 549300WZN9I2QKLS0O94 | Long             | EC               | CORP              | US        |     27500 | NS      | $1843325.00   | 2.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Darling Ingredients, Inc                | Darling Ingredients, Inc.                        | CUSIP: 237266101<br>LEI: L1N0SPPKS7EXZYUMZ898 | Long             | EC               | CORP              | US        |     53000 | NS      | $1908000.00   | 2.23%             |  |  |  | No            |                  1 | On Loan: No      |
| DraftKings Inc.                         | DraftKings Inc.                                  | CUSIP: 26142V105<br>LEI: 2549006G33IUL6IVOD83 | Long             | EC               | CORP              | US        |     40000 | NS      | $1378400.00   | 1.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Emerson Electric Co.                    | Emerson Electric Company                         | CUSIP: 291011104<br>LEI: FGLT0EWZSUIRRITFOA30 | Long             | EC               | CORP              | US        |     18000 | NS      | $2388960.00   | 2.79%             |  |  |  | No            |                  1 | On Loan: No      |
| FedEx Corporation                       | FedEx Corporation                                | CUSIP: 31428X106<br>LEI: 549300E707U7WNPZN687 | Long             | EC               | CORP              | US        |      7000 | NS      | $2022020.00   | 2.36%             |  |  |  | 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        |   2727428 | PA      | $2727427.53   | 3.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Hexcel Corporation                      | Hexcel Corporation                               | CUSIP: 428291108<br>LEI: S6Q7LW43WUBUHXY2QP69 | Long             | EC               | CORP              | US        |     33000 | NS      | $2438700.00   | 2.85%             |  |  |  | No            |                  1 | On Loan: No      |
| International Flavors & Fragrances Inc. | International Flavors & Fragrances, Inc.         | CUSIP: 459506101<br>LEI: BZLRL03D3GPGMOGFO832 | Long             | EC               | CORP              | US        |     37500 | NS      | $2527125.00   | 2.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Keysight Technologies, Inc.             | Keysight Technologies, Inc.                      | CUSIP: 49338L103<br>LEI: 549300GLKVIO8YRCYN02 | Long             | EC               | CORP              | US        |     14000 | NS      | $2844660.00   | 3.32%             |  |  |  | No            |                  1 | On Loan: No      |
| LKQ Corporation                         | LKQ Corporation                                  | CUSIP: 501889208<br>LEI: DS830JTTZQN6GK0I2E41 | Long             | EC               | CORP              | US        |     45000 | NS      | $1359000.00   | 1.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Leidos Holdings Inc                     | Leidos Holdings, Inc.                            | CUSIP: 525327102<br>LEI: 549300IUTGTP6EJP8124 | Long             | EC               | CORP              | US        |      9000 | NS      | $1623600.00   | 1.90%             |  |  |  | No            |                  1 | On Loan: No      |
| Eli Lilly & Co.                         | Eli Lilly & Company                              | CUSIP: 532457108<br>LEI: FRDRIPF3EKNDJ2CQJL29 | Long             | EC               | CORP              | US        |      1300 | NS      | $1397084.00   | 1.63%             |  |  |  | No            |                  1 | On Loan: No      |
| MSCI Inc.                               | MSCI, Inc.                                       | CUSIP: 55354G100<br>LEI: 549300HTIN2PD78UB763 | Long             | EC               | CORP              | US        |      4700 | NS      | $2696531.00   | 3.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Martin Marietta Materials Inc           | Martin Marietta Materials, Inc.                  | CUSIP: 573284106<br>LEI: 5299005MZ4WZECVATV08 | Long             | EC               | CORP              | US        |      4300 | NS      | $2677438.00   | 3.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Marvell Technology Inc                  | Marvell Technology, Inc.                         | CUSIP: 573874104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     30000 | NS      | $2549400.00   | 2.98%             |  |  |  | No            |                  1 | On Loan: No      |
| MasterCard Incorporated                 | Mastercard, Inc. Class A                         | CUSIP: 57636Q104<br>LEI: AR5L2ODV9HN37376R084 | Long             | EC               | CORP              | US        |      4800 | NS      | $2740224.00   | 3.20%             |  |  |  | No            |                  1 | On Loan: No      |
| NextEra Energy Inc                      | NextEra Energy, Inc.                             | CUSIP: 65339F101<br>LEI: 254900RHL9MEUS5NKX63 | Long             | EC               | CORP              | US        |     35000 | NS      | $2809800.00   | 3.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Nike, Inc.                              | NIKE, Inc. Class B                               | CUSIP: 654106103<br>LEI: 787RXPR0UX0O0XUXPZ81 | Long             | EC               | CORP              | US        |     41500 | NS      | $2643965.00   | 3.09%             |  |  |  | No            |                  1 | On Loan: No      |
| The Charles Schwab Corporation          | Charles Schwab Corporation (The)                 | CUSIP: 808513105<br>LEI: 549300VSGCJ7E698NM85 | Long             | EC               | CORP              | US        |     32500 | NS      | $3247075.00   | 3.79%             |  |  |  | No            |                  1 | On Loan: No      |
| TransUnion                              | TransUnion                                       | CUSIP: 89400J107<br>LEI: 549300ZS772LUNUMRB03 | Long             | EC               | CORP              | US        |     26000 | NS      | $2229500.00   | 2.60%             |  |  |  | No            |                  1 | On Loan: No      |
| United Parcel Service, Inc.             | United Parcel Service, Inc. Class B              | CUSIP: 911312106<br>LEI: D01LMJZU09ULLNCY6Z23 | Long             | EC               | CORP              | US        |     20000 | NS      | $1983800.00   | 2.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Wynn Resorts Limited                    | Wynn Resorts Ltd.                                | CUSIP: 983134107<br>LEI: 254900CEKKWIHTEAB172 | Long             | EC               | CORP              | US        |     13000 | NS      | $1564290.00   | 1.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Zebra Technologies Corporation          | Zebra Technologies Corporation Class A           | CUSIP: 989207105<br>LEI: PO0I32GKZ3HZMMDPZZ08 | Long             | EC               | CORP              | US        |     10000 | NS      | $2428200.00   | 2.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Zimmer Biomet Holdings Inc              | Zimmer Biomet Holdings, Inc.                     | CUSIP: 98956P102<br>LEI: 2P2YLDVPES3BXQ1FRB91 | Long             | EC               | CORP              | US        |     28000 | NS      | $2517760.00   | 2.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Aon PLC                                 | Aon plc                                          | CUSIP: G0403H108<br>LEI: 635400FALWQYX5E6QC64 | Long             | EC               | CORP              | GB        |      7300 | NS      | $2576024.00   | 3.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Eaton Corporation PLC                   | Eaton Corp plc                                   | CUSIP: G29183103<br>LEI: 549300VDIGTMXUNT7H71 | Long             | EC               | CORP              | IE        |      7500 | NS      | $2388825.00   | 2.79%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-12-31

**Name of Applicant:** Davenport Insider Buying Fund

**Signature:** Daniel D. Bauer

**Name of Signer:** Daniel D. Bauer

**Title:** VP, Fund Accounting