| DAVENPORT CORE LEADERS FUND |
| SCHEDULE OF INVESTMENTS |
| June 30, 2023 (Unaudited) |
| |
| COMMON STOCKS - 98.2% | Shares | Value |
| Communications - 11.8% |
| Alphabet, Inc. - Class A (a) | 154,042 | $ 18,438,827 |
| Alphabet, Inc. - Class C (a) | 54,011 | 6,533,711 |
| Electronic Arts, Inc. | 124,376 | 16,131,567 |
| Meta Platforms, Inc. - Class A (a) | 100,251 | 28,770,032 |
| Walt Disney Company (The) (a) | 245,382 | 21,907,705 |
| | | 91,781,842 |
| Consumer Discretionary - 8.5% |
| Amazon.com, Inc. (a) | 255,057 | 33,249,231 |
| Home Depot, Inc. (The) | 34,124 | 10,600,279 |
| TJX Companies, Inc. (The) | 267,332 | 22,667,080 |
| | | 66,516,590 |
| Consumer Staples - 3.4% |
| Constellation Brands, Inc. - Class A | 47,764 | 11,756,153 |
| Costco Wholesale Corporation | 27,992 | 15,070,333 |
| | | 26,826,486 |
| Energy - 5.0% |
| EOG Resources, Inc. | 183,357 | 20,983,375 |
| Pioneer Natural Resources Company | 86,506 | 17,922,313 |
| | | 38,905,688 |
| Financials - 14.5% |
| Aon plc - Class A | 46,396 | 16,015,899 |
| Berkshire Hathaway, Inc. - Class B (a) | 65,801 | 22,438,141 |
| Brookfield Asset Management Ltd. - Class A | 128,193 | 4,182,938 |
| Brookfield Corporation | 518,639 | 17,452,202 |
| Intercontinental Exchange, Inc. | 102,761 | 11,620,214 |
| JPMorgan Chase & Company | 101,659 | 14,785,285 |
| Markel Group, Inc. (a) | 19,507 | 26,981,692 |
| | | 113,476,371 |
| Health Care - 11.1% |
| Abbott Laboratories | 135,969 | 14,823,340 |
| Danaher Corporation | 98,233 | 23,575,920 |
| Johnson & Johnson | 94,200 | 15,591,984 |
| Novo Nordisk A/S - ADR | 66,530 | 10,766,550 |
| UnitedHealth Group, Inc. | 28,612 | 13,752,072 |
| Vertex Pharmaceuticals, Inc. (a) | 22,500 | 7,917,975 |
| | | 86,427,841 |
| Industrials - 5.5% |
| Honeywell International, Inc. | 84,040 | 17,438,300 |
| Republic Services, Inc. | 77,394 | 11,854,439 |
| DAVENPORT CORE LEADERS FUND |
| SCHEDULE OF INVESTMENTS (Continued) |
| |
| COMMON STOCKS - 98.2% (Continued) | Shares | Value |
| Industrials - 5.5% (Continued) |
| Union Pacific Corporation | 66,055 | $ 13,516,174 |
| | | 42,808,913 |
| Materials - 8.8% |
| Air Products & Chemicals, Inc. | 77,092 | 23,091,367 |
| Martin Marietta Materials, Inc. | 56,231 | 25,961,290 |
| Sherwin-Williams Company (The) | 75,045 | 19,925,949 |
| | | 68,978,606 |
| Real Estate - 2.0% |
| American Tower Corporation | 78,910 | 15,303,806 |
| | | |
| Technology - 27.6% |
| Accenture plc - Class A | 78,124 | 24,107,504 |
| Adobe, Inc. (a) | 63,393 | 30,998,543 |
| Analog Devices, Inc. | 60,803 | 11,845,032 |
| Apple, Inc. | 100,674 | 19,527,736 |
| Broadcom, Inc. | 22,544 | 19,555,342 |
| Intuit, Inc. | 41,155 | 18,856,809 |
| Mastercard, Inc. - Class A | 59,462 | 23,386,405 |
| Microsoft Corporation | 95,412 | 32,491,602 |
| ServiceNow, Inc. (a) | 29,978 | 16,846,737 |
| Visa, Inc. - Class A | 77,337 | 18,365,991 |
| | | 215,981,701 |
| | | |
| Total Common Stocks (Cost $478,721,828) | $ 767,007,844 |
| | | |
| | | |
| MONEY MARKET FUNDS - 1.8% | Shares | Value |
First American Treasury Obligations Fund -
Class Z, 5.00% (b) (Cost $14,085,825) | 14,085,825 | $ 14,085,825 |
| | | |
| Total Investments at Value - 100.0% (Cost $492,807,653) | $ 781,093,669 |
| | |
| Other Assets in Excess of Liabilities - 0.0% (c) | 56,378 |
| | |
| Net Assets - 100.0% | $ 781,150,047 |
| |
| DAVENPORT VALUE & INCOME FUND |
| SCHEDULE OF INVESTMENTS |
| June 30, 2023 (Unaudited) |
| |
| COMMON STOCKS - 98.6% | Shares | Value |
| Communications - 5.9% |
| Alphabet, Inc. - Class A (a) | 173,065 | $ 20,715,881 |
| Comcast Corporation - Class A | 660,148 | 27,429,149 |
| | | 48,145,030 |
| Consumer Discretionary - 6.4% |
| Cannae Holdings, Inc. (a) | 303,825 | 6,140,303 |
| Lowe's Companies, Inc. | 93,313 | 21,060,744 |
| McDonald's Corporation | 83,188 | 24,824,131 |
| | | 52,025,178 |
| Consumer Staples - 13.3% |
| Bunge Ltd. | 128,040 | 12,080,574 |
| Diageo plc - ADR | 118,039 | 20,477,406 |
| J.M. Smucker Company (The) | 105,198 | 15,534,589 |
| Keurig Dr Pepper, Inc. | 499,931 | 15,632,842 |
| Philip Morris International, Inc. | 202,763 | 19,793,724 |
| Target Corporation | 75,015 | 9,894,478 |
| Walmart, Inc. | 95,166 | 14,958,192 |
| | | 108,371,805 |
| Energy - 7.1% |
| Chevron Corporation | 152,979 | 24,071,245 |
| Coterra Energy, Inc. | 712,573 | 18,028,097 |
| Enbridge, Inc. | 433,180 | 16,092,637 |
| | | 58,191,979 |
| Financials - 23.6% |
| Berkshire Hathaway, Inc. - Class B (a) | 100,068 | 34,123,188 |
| Brookfield Asset Management Ltd. - Class A | 433,924 | 14,158,940 |
| Brookfield Corporation | 641,892 | 21,599,666 |
| Chubb Ltd. | 64,576 | 12,434,755 |
| Fairfax Financial Holdings Ltd. | 46,191 | 34,592,403 |
| Fidelity National Financial, Inc. | 455,613 | 16,402,068 |
| JPMorgan Chase & Company | 138,488 | 20,141,695 |
| Markel Group, Inc. (a) | 17,818 | 24,645,501 |
| Wells Fargo & Company | 340,290 | 14,523,577 |
| | | 192,621,793 |
| Health Care - 15.6% |
| Bristol-Myers Squibb Company | 239,912 | 15,342,373 |
| Elevance Health, Inc. | 50,279 | 22,338,457 |
| Johnson & Johnson | 206,662 | 34,206,694 |
| DAVENPORT VALUE & INCOME FUND |
| SCHEDULE OF INVESTMENTS (Continued) |
| |
| COMMON STOCKS - 98.6% (Continued) | Shares | Value |
| Health Care - 15.6% (Continued) |
| Sanofi - ADR | 271,069 | $ 14,610,619 |
| | | 127,734,978 |
| Industrials - 15.4% |
| Deere & Company | 38,997 | 15,801,194 |
| L3Harris Technologies, Inc. | 123,059 | 24,091,260 |
| Norfolk Southern Corporation | 74,214 | 16,828,767 |
| TE Connectivity Ltd. | 151,609 | 21,249,518 |
| United Parcel Service, Inc. - Class B | 138,010 | 24,738,293 |
| Watsco, Inc. | 60,103 | 22,927,491 |
| | | 125,636,523 |
| Materials - 1.5% |
| Avery Dennison Corporation | 70,386 | 12,092,315 |
| | | |
| Real Estate - 5.6% |
| Crown Castle, Inc. | 122,339 | 13,939,306 |
| Gaming and Leisure Properties, Inc. | 159,546 | 7,731,599 |
| Lamar Advertising Company - Class A | 244,472 | 24,263,846 |
| | | 45,934,751 |
| Technology - 1.9% |
| Oracle Corporation | 130,710 | 15,566,254 |
| | | |
| Utilities - 2.3% |
| NextEra Energy, Inc. | 255,784 | 18,979,173 |
| | | |
| Total Common Stocks (Cost $636,264,865) | $ 805,299,779 |
| | | |
| | | |
| MONEY MARKET FUNDS - 1.6% | Shares | Value |
First American Treasury Obligations Fund -
Class Z, 5.00% (b) (Cost $13,004,961) | 13,004,961 | $ 13,004,961 |
| | | |
| Total Investments at Value - 100.2% (Cost $649,269,826) | $ 818,304,740 |
| | |
| Liabilities in Excess of Other Assets - (0.2%) | (1,278,428 ) |
| | |
| Net Assets - 100.0% | $ 817,026,312 |
| |
| DAVENPORT EQUITY OPPORTUNITIES FUND |
| SCHEDULE OF INVESTMENTS |
| June 30, 2023 (Unaudited) |
| |
| COMMON STOCKS - 97.5% | Shares | Value |
| Communications - 7.0% |
| DISH Network Corporation - Class A (a) | 1,175,074 | $ 7,743,738 |
| Take-Two Interactive Software, Inc. (a) | 285,371 | 41,995,196 |
| | | 49,738,934 |
| Consumer Discretionary - 23.7% |
| Cannae Holdings, Inc. (a) | 1,018,253 | 20,578,893 |
| DraftKings Inc. - Class A (a) | 1,026,321 | 27,269,349 |
| Etsy, Inc. (a) | 87,791 | 7,427,996 |
| Live Nation Entertainment, Inc. (a) | 354,332 | 32,283,189 |
| Mobileye Global, Inc. - Class A (a) | 657,103 | 25,245,897 |
| O'Reilly Automotive, Inc. (a) | 36,944 | 35,292,603 |
| Pool Corporation | 56,370 | 21,118,457 |
| | | 169,216,384 |
| Financials - 21.9% |
| Brookfield Asset Management Ltd. - Class A | 450,370 | 14,695,573 |
| Brookfield Corporation | 924,295 | 31,102,527 |
| Fairfax Financial Holdings Ltd. | 63,222 | 47,346,905 |
| Fidelity National Financial, Inc. | 516,896 | 18,608,256 |
| Markel Group, Inc. (a) | 31,953 | 44,196,751 |
| | | 155,950,012 |
| Health Care - 1.5% |
| Avantor, Inc. (a) | 509,147 | 10,457,879 |
| | | |
| Industrials - 17.1% |
| Enovis Corporation (a) | 409,825 | 26,277,979 |
| ESAB Corporation | 209,524 | 13,941,727 |
| J.B. Hunt Transport Services, Inc. | 110,027 | 19,918,188 |
| Watsco, Inc. | 69,061 | 26,344,700 |
| Xylem, Inc. | 314,023 | 35,365,270 |
| | | 121,847,864 |
| Materials - 8.0% |
| Martin Marietta Materials, Inc. | 71,088 | 32,820,619 |
| Sherwin-Williams Company (The) | 91,710 | 24,350,839 |
| | | 57,171,458 |
| Real Estate - 7.3% |
| American Tower Corporation | 143,420 | 27,814,875 |
| Lamar Advertising Company - Class A | 248,061 | 24,620,054 |
| | | 52,434,929 |
| Technology - 11.0% |
| Alight, Inc. - Class A (a) | 3,087,455 | 28,528,084 |
| Autodesk, Inc. (a) | 72,539 | 14,842,205 |
| DAVENPORT EQUITY OPPORTUNITIES FUND |
| SCHEDULE OF INVESTMENTS (Continued) |
| |
| COMMON STOCKS - 97.5% (Continued) | Shares | Value |
| Technology - 11.0% (Continued) |
| Black Knight, Inc. (a) | 340,534 | $ 20,340,096 |
| PTC, Inc. (a) | 105,431 | 15,002,831 |
| | | 78,713,216 |
| | | |
| Total Common Stocks (Cost $569,388,646) | $ 695,530,676 |
| | | |
| | | |
| MONEY MARKET FUNDS - 3.7% | Shares | Value |
First American Treasury Obligations Fund -
Class Z, 5.00% (b) (Cost $26,415,598) | 26,415,598 | $ 26,415,598 |
| | | |
| Total Investments at Value - 101.2% (Cost $595,804,244) | $ 721,946,274 |
| | |
| Liabilities in Excess of Other Assets - (1.2%) | (8,223,275 ) |
| | |
| Net Assets - 100.0% | $ 713,722,999 |
| |
| DAVENPORT SMALL CAP FOCUS FUND |
| SCHEDULE OF INVESTMENTS |
| June 30, 2023 (Unaudited) |
| |
| COMMON STOCKS - 89.9% | Shares | Value |
| Communications - 9.0% |
| Cable One, Inc. | 22,000 | $ 14,455,760 |
| Liberty Latin America Ltd. - Class C (a) | 2,975,275 | 25,646,871 |
| Shenandoah Telecommunications Company | 889,307 | 17,279,235 |
| | | 57,381,866 |
| Consumer Discretionary - 16.0% |
| Cannae Holdings, Inc. (a) | 1,115,479 | 22,543,831 |
| DraftKings Inc. - Class A (a) | 717,006 | 19,050,849 |
| Monarch Casino & Resort, Inc. | 571,656 | 40,273,165 |
| OneSpaWorld Holdings Ltd. (a) | 1,720,970 | 20,823,737 |
| | | 102,691,582 |
| Consumer Staples - 6.8% |
| J & J Snack Foods Corporation | 184,874 | 29,276,647 |
| Seaboard Corporation | 4,035 | 14,367,505 |
| | | 43,644,152 |
| Energy - 2.2% |
| Peyto Exploration & Development Corporation | 1,719,782 | 14,274,191 |
| | | |
| Financials - 11.1% |
| Diamond Hill Investment Group, Inc. | 102,730 | 17,597,649 |
| Kinsale Capital Group, Inc. | 74,834 | 28,002,883 |
| Stewart Information Services Corporation | 622,446 | 25,607,428 |
| | | 71,207,960 |
| Health Care - 3.8% |
| Perrigo Company plc | 723,996 | 24,579,664 |
| | | |
| Industrials - 9.4% |
| Enovis Corporation (a) | 454,566 | 29,146,772 |
| ESAB Corporation | 320,511 | 21,326,802 |
| Teekay Tankers Ltd. - Class A | 250,000 | 9,557,500 |
| | | 60,031,074 |
| Materials - 7.5% |
| NewMarket Corporation | 93,047 | 37,416,060 |
| Trex Company, Inc. (a) | 159,600 | 10,463,376 |
| | | 47,879,436 |
| Real Estate - 9.2% |
| FRP Holdings, Inc. (a) | 132,183 | 7,609,775 |
| Janus International Group, Inc. (a) | 2,457,662 | 26,198,677 |
| Lamar Advertising Company - Class A | 197,722 | 19,623,908 |
| Radius Global Infrastructure, Inc. - Class A (a) | 348,764 | 5,196,584 |
| | | 58,628,944 |
| DAVENPORT SMALL CAP FOCUS FUND |
| SCHEDULE OF INVESTMENTS (Continued) |
| |
| COMMON STOCKS - 89.9% (Continued) | Shares | Value |
| Technology - 14.9% |
| Alight, Inc. - Class A (a) | 3,552,817 | $ 32,828,029 |
| Avid Technology, Inc. (a) | 469,292 | 11,966,946 |
| HealthEquity, Inc. (a) | 300,000 | 18,942,000 |
| Verra Mobility Corporation (a) | 1,587,835 | 31,312,106 |
| | | 95,049,081 |
| | | |
| Total Common Stocks (Cost $533,618,080) | $ 575,367,950 |
| | | |
| | | |
| EXCHANGE-TRADED FUNDS - 3.3% | Shares | Value |
| ALPS Medical Breakthroughs ETF (a) (Cost $20,662,458) | 670,000 | $ 21,138,500 |
| | | |
| | | |
| MONEY MARKET FUNDS - 6.7% | Shares | Value |
First American Treasury Obligations Fund -
Class Z, 5.00% (b) (Cost $42,885,242) | 42,885,242 | $ 42,885,242 |
| | | |
| Total Investments at Value - 99.9% (Cost $597,165,780) | $ 639,391,692 |
| | |
| Other Assets in Excess of Liabilities - 0.1% | 794,012 |
| | |
| Net Assets - 100.0% | $ 640,185,704 |
| |
| DAVENPORT BALANCED INCOME FUND |
| SCHEDULE OF INVESTMENTS |
| June 30, 2023 (Unaudited) |
| |
| COMMON STOCKS - 57.9% | Shares | Value |
| Communications - 2.9% |
| Alphabet, Inc. - Class A (a) | 23,040 | $ 2,757,888 |
| Comcast Corporation - Class A | 88,029 | 3,657,605 |
| | | 6,415,493 |
| Consumer Discretionary - 3.6% |
| Cannae Holdings, Inc. (a) | 85,012 | 1,718,092 |
| Lowe's Companies, Inc. | 12,587 | 2,840,886 |
| McDonald's Corporation | 11,056 | 3,299,221 |
| | | 7,858,199 |
| Consumer Staples - 7.4% |
| Bunge Ltd. | 17,964 | 1,694,904 |
| Diageo plc - ADR | 16,048 | 2,784,007 |
| Ingredion, Inc. | 13,155 | 1,393,772 |
| J.M. Smucker Company (The) | 15,384 | 2,271,755 |
| Keurig Dr Pepper, Inc. | 73,434 | 2,296,281 |
| Philip Morris International, Inc. | 27,471 | 2,681,719 |
| Target Corporation | 10,007 | 1,319,924 |
| Walmart, Inc. | 12,557 | 1,973,709 |
| | | 16,416,071 |
| Energy - 4.7% |
| Chevron Corporation | 22,225 | 3,497,104 |
| Coterra Energy, Inc. | 100,391 | 2,539,892 |
| Enbridge, Inc. | 57,275 | 2,127,766 |
| Enterprise Products Partners, L.P. | 87,000 | 2,292,450 |
| | | 10,457,212 |
| Financials - 13.8% |
| Berkshire Hathaway, Inc. - Class B (a) | 13,379 | 4,562,239 |
| Brookfield Asset Management Ltd. - Class A | 61,650 | 2,011,639 |
| Brookfield Corporation | 84,137 | 2,831,210 |
| Chubb Ltd. | 9,449 | 1,819,499 |
| Diamond Hill Investment Group, Inc. | 11,715 | 2,006,780 |
| Fairfax Financial Holdings Ltd. | 6,810 | 5,100,004 |
| Fidelity National Financial, Inc. | 66,597 | 2,397,492 |
| JPMorgan Chase & Company | 18,345 | 2,668,097 |
| Markel Group, Inc. (a) | 2,366 | 3,272,604 |
| Stewart Information Services Corporation | 50,417 | 2,074,155 |
| Wells Fargo & Company | 45,275 | 1,932,337 |
| | | 30,676,056 |
| Health Care - 8.6% |
| Bristol-Myers Squibb Company | 35,233 | 2,253,150 |
| Elevance Health, Inc. | 7,066 | 3,139,353 |
| DAVENPORT BALANCED INCOME FUND |
| SCHEDULE OF INVESTMENTS (Continued) |
| |
| COMMON STOCKS - 57.9% (Continued) | Shares | Value |
| Health Care - 8.6% (Continued) |
| Johnson & Johnson | 27,374 | $ 4,530,945 |
| Medtronic plc | 35,449 | 3,123,057 |
| Perrigo Company plc | 116,716 | 3,962,508 |
| Sanofi - ADR | 36,854 | 1,986,431 |
| | | 18,995,444 |
| Industrials - 7.9% |
| Deere & Company | 5,099 | 2,066,064 |
| L3Harris Technologies, Inc. | 18,141 | 3,551,463 |
| Norfolk Southern Corporation | 9,678 | 2,194,583 |
| TE Connectivity Ltd. | 19,630 | 2,751,341 |
| United Parcel Service, Inc. - Class B | 19,971 | 3,579,802 |
| Watsco, Inc. | 8,785 | 3,351,214 |
| | | 17,494,467 |
| Materials - 2.0% |
| Avery Dennison Corporation | 10,267 | 1,763,870 |
| NewMarket Corporation | 6,465 | 2,599,706 |
| | | 4,363,576 |
| Real Estate - 2.8% |
| Crown Castle, Inc. | 16,385 | 1,866,907 |
| Gaming and Leisure Properties, Inc. | 23,379 | 1,132,947 |
| Lamar Advertising Company - Class A | 32,689 | 3,244,383 |
| | | 6,244,237 |
| Technology - 1.0% |
| Oracle Corporation | 18,398 | 2,191,018 |
| | | |
| Utilities - 3.2% |
| Brookfield Infrastructure Partners, L.P. | 61,867 | 2,258,145 |
| Brookfield Renewable Partners, L.P. | 76,999 | 2,270,701 |
| NextEra Energy, Inc. | 34,775 | 2,580,305 |
| | | 7,109,151 |
| | | |
| Total Common Stocks (Cost $105,440,150) | $ 128,220,924 |
| | | |
| | | |
| FIXED RATE CORPORATE BONDS - 27.8% | Par Value | Value |
| Communications - 4.0% | | |
| Meta Platforms, Inc., 4.950%, due 05/15/2033 | $ 4,990,000 | $ 4,984,062 |
| Verisign, Inc., 5.250%, due 04/01/2025 | 3,950,000 | 3,912,902 |
| | | 8,896,964 |
| DAVENPORT BALANCED INCOME FUND |
| SCHEDULE OF INVESTMENTS (Continued) |
| |
| FIXED RATE CORPORATE BONDS - 27.8% (Continued) | Par Value | Value |
| Consumer Discretionary - 1.8% | | |
| Marriott International, Inc., 3.600%, due 04/15/2024 | $ 3,990,000 | $ 3,922,675 |
| | | |
| Consumer Staples - 3.0% | | |
| Lowe's Companies, Inc., 4.400%, due 09/08/2025 | 1,525,000 | 1,494,114 |
| Phillip Morris International, Inc., 5.375%, due 02/15/2033 | 2,995,000 | 2,987,212 |
| Walgreens Boots Alliance, Inc., 3.800%, due 11/18/2024 | 2,245,000 | 2,187,935 |
| | | 6,669,261 |
| Energy - 3.7% | | |
| Boardwalk Pipelines, L.P., 4.450%, due 07/15/2027 | 2,200,000 | 2,098,040 |
| BP Capital Markets America, 4.812%, due 02/13/2033 | 2,990,000 | 2,944,961 |
| MPLX, L.P., 4.125%, due 03/01/2027 | 3,250,000 | 3,108,747 |
| | | 8,151,748 |
| Financials - 5.4% | | |
| American Express Company, 3.375%, due 05/03/2024 | 2,995,000 | 2,936,426 |
| BlackRock, Inc., 4.750%, due 05/25/2033 | 3,000,000 | 2,946,336 |
| BlackRock, Inc., 3.500%, due 03/18/2024 | 1,150,000 | 1,132,555 |
| Brookfield Finance, Inc., 4.000%, due 04/01/2024 | 2,000,000 | 1,972,008 |
| Royal Bank of Canada, 5.000%, due 05/02/2033 | 3,000,000 | 2,925,001 |
| | | 11,912,326 |
| Health Care - 2.5% | | |
| Merck & Company, Inc., 4.500%, due 05/17/2033 | 2,490,000 | 2,468,847 |
| Zoetis, Inc., 5.400%, due 11/14/2025 | 2,990,000 | 2,998,569 |
| | | 5,467,416 |
| Industrials - 2.6% | | |
| Boeing Company (The), 1.433%, due 02/04/2024 | 5,990,000 | 5,830,376 |
| | | |
| Technology - 3.5% | | |
| Apple, Inc., 4.300%, due 05/10/2033 | 2,490,000 | 2,475,387 |
| Fiserv, Inc., 3.200%, due 07/01/2026 | 2,325,000 | 2,180,950 |
| Oracle Corporation, 5.800%, due 11/10/2025 | 2,990,000 | 3,023,500 |
| | | 7,679,837 |
| Utilities - 1.4% | | |
| NextEra Energy Capital Holdings, Inc., 6.051%, due 03/01/2025 | 2,995,000 | 3,005,683 |
| | | |
| Total Fixed Rate Corporate Bonds (Cost $62,545,505) | $ 61,536,286 |
| DAVENPORT BALANCED INCOME FUND |
| SCHEDULE OF INVESTMENTS (Continued) |
| |
| MUNICIPAL BONDS - 1.1% | Par Value | Value |
| Richmond, VA, GO, Public Improvement Bonds, | | |
| Series 2013B, 4.80%, due 03/01/2033 (Cost $2,542,400) | $ 2,455,000 | $ 2,490,146 |
| | | |
| | | |
| U.S. TREASURY OBLIGATIONS - 10.2% | Par Value | Value |
| U.S. Treasury Bills - 5.3% (b) |
| 4.819%, due 07/27/2023 | $ 2,000,000 | $ 1,993,306 |
| 3.285%, due 08/10/2023 | 3,990,000 | 3,968,394 |
| 4.046%, due 09/07/2023 | 2,000,000 | 1,981,101 |
| 5.392%, due 11/24/2023 | 4,000,000 | 3,917,096 |
| | | 11,859,897 |
| U.S. Treasury Notes - 4.9% |
| 1.500%, due 02/29/2024 | 1,995,000 | 1,943,956 |
| 0.250%, due 06/15/2024 | 4,500,000 | 4,284,844 |
| 2.750%, due 06/30/2025 | 4,810,000 | 4,613,654 |
| | | 10,842,454 |
| | |
| Total U.S. Treasury Obligations (Cost $23,161,280) | $ 22,702,351 |
| | | |
| | | |
| MONEY MARKET FUNDS - 2.8% | Shares | Value |
First American Treasury Obligations Fund -
Class Z, 5.00% (c) (Cost $6,213,767) | 6,213,767 | $ 6,213,767 |
| | | |
| Total Investments at Value - 99.8% (Cost $199,903,102) | $ 221,163,474 |
| | |
| Other Assets in Excess of Liabilities - 0.2% | 468,094 |
| | |
| Net Assets - 100.0% | $ 221,631,568 |
| |
