| DAVENPORT CORE LEADERS FUND |
| SCHEDULE OF INVESTMENTS |
| December 31, 2024 (Unaudited) |
| |
| COMMON STOCKS - 98.1% | Shares | Value |
| Communications - 13.3% |
| Alphabet, Inc. - Class A | 154,884 | $ 29,319,541 |
| Electronic Arts, Inc. | 124,226 | 18,174,264 |
| Meta Platforms, Inc. - Class A | 100,693 | 58,956,758 |
| Spotify Technology S.A. (a) | 46,018 | 20,587,533 |
| Uber Technologies, Inc. (a) | 304,066 | 18,341,261 |
| | | 145,379,357 |
| Consumer Discretionary - 9.4% |
| Amazon.com, Inc. (a) | 301,467 | 66,138,845 |
| Home Depot, Inc. (The) | 34,304 | 13,343,913 |
| TJX Companies, Inc. (The) | 189,595 | 22,904,972 |
| | | 102,387,730 |
| Consumer Staples - 1.9% |
| Costco Wholesale Corporation | 22,286 | 20,419,993 |
| | | |
| Energy - 2.1% |
| EOG Resources, Inc. | 184,565 | 22,623,978 |
| | | |
| Financials - 12.4% |
| Aon plc - Class A | 59,578 | 21,398,035 |
| Berkshire Hathaway, Inc. - Class B (a) | 48,057 | 21,783,277 |
| Brookfield Corporation | 951,791 | 54,680,393 |
| Intercontinental Exchange, Inc. | 149,247 | 22,239,295 |
| Markel Group, Inc. (a) | 8,986 | 15,511,903 |
| | | 135,612,903 |
| Health Care - 12.6% |
| Abbott Laboratories | 178,474 | 20,187,194 |
| Danaher Corporation | 115,734 | 26,566,740 |
| Intuitive Surgical, Inc. (a) | 23,515 | 12,273,890 |
| Novo Nordisk A/S - ADR | 251,209 | 21,608,998 |
| UnitedHealth Group, Inc. | 73,534 | 37,197,909 |
| Vertex Pharmaceuticals, Inc. (a) | 48,396 | 19,489,069 |
| | | 137,323,800 |
| Industrials - 5.4% |
| Republic Services, Inc. | 78,202 | 15,732,678 |
| Rockwell Automation, Inc. | 97,578 | 27,886,817 |
| Union Pacific Corporation | 66,389 | 15,139,347 |
| | | 58,758,842 |
| Materials - 7.7% |
| Air Products & Chemicals, Inc. | 116,306 | 33,733,392 |
| Martin Marietta Materials, Inc. | 48,339 | 24,967,094 |
| DAVENPORT CORE LEADERS FUND |
| SCHEDULE OF INVESTMENTS (Continued) |
| |
| COMMON STOCKS - 98.1% (Continued) | Shares | Value |
| Materials - 7.7% (Continued) |
| Sherwin-Williams Company (The) | 75,910 | $ 25,804,086 |
| | | 84,504,572 |
| Technology - 33.3% |
| Accenture plc - Class A | 78,405 | 27,582,095 |
| Adobe, Inc. (a) | 65,286 | 29,031,378 |
| Advanced Micro Devices, Inc. (a) | 137,608 | 16,621,670 |
| Analog Devices, Inc. | 61,163 | 12,994,691 |
| Apple, Inc. | 159,311 | 39,894,661 |
| Broadcom, Inc. | 146,180 | 33,890,371 |
| Mastercard, Inc. - Class A | 59,798 | 31,487,833 |
| Microsoft Corporation | 112,531 | 47,431,817 |
| NVIDIA Corporation | 359,200 | 48,236,968 |
| Palo Alto Networks, Inc. (a) | 102,856 | 18,715,678 |
| ServiceNow, Inc. (a) | 30,875 | 32,731,205 |
| Visa, Inc. - Class A | 77,660 | 24,543,666 |
| | | 363,162,033 |
| | | |
| Total Common Stocks (Cost $579,941,416) | $ 1,070,173,208 |
| | | |
| | | |
| MONEY MARKET FUNDS - 1.9% | Shares | Value |
| First American Treasury Obligations Fund - Class X, 4.40% (b) (Cost $21,291,562) | 21,291,562 | $ 21,291,562 |
| | | |
| Total Investments at Value - 100.0% (Cost $601,232,978) | $ 1,091,464,770 |
| | |
| Liabilities in Excess of Other Assets - (0.0%) (c) | (436,131) |
| | |
| Net Assets - 100.0% | $ 1,091,028,639 |
| |
| DAVENPORT VALUE & INCOME FUND |
| SCHEDULE OF INVESTMENTS |
| December 31, 2024 (Unaudited) |
| |
| COMMON STOCKS - 98.0% | Shares | Value |
| Communications - 2.9% |
| Comcast Corporation - Class A | 684,096 | $ 25,674,123 |
| | | |
| Consumer Discretionary - 5.9% |
| Genuine Parts Company | 114,184 | 13,332,124 |
| Lowe's Companies, Inc. | 75,071 | 18,527,522 |
| McDonald's Corporation | 67,919 | 19,689,039 |
| | | 51,548,685 |
| Consumer Staples - 13.7% |
| Anheuser-Busch InBev S.A./N.V. - ADR | 504,125 | 25,241,539 |
| Hershey Company (The) | 69,016 | 11,687,860 |
| Keurig Dr Pepper, Inc. | 601,083 | 19,306,786 |
| PepsiCo, Inc. | 97,080 | 14,761,985 |
| Philip Morris International, Inc. | 240,944 | 28,997,610 |
| Walmart, Inc. | 209,055 | 18,888,119 |
| | | 118,883,899 |
| Energy - 7.5% |
| Chevron Corporation | 210,481 | 30,486,068 |
| Enbridge, Inc. | 415,078 | 17,611,760 |
| Schlumberger Ltd. | 441,021 | 16,908,745 |
| | | 65,006,573 |
| Financials - 21.0% |
| Berkshire Hathaway, Inc. - Class B (a) | 42,548 | 19,286,157 |
| Brookfield Asset Management Ltd. - Class A | 416,718 | 22,581,948 |
| Brookfield Corporation | 417,451 | 23,982,560 |
| Citigroup, Inc. | 230,835 | 16,248,476 |
| Fairfax Financial Holdings Ltd. | 18,747 | 26,053,831 |
| Fidelity National Financial, Inc. | 268,304 | 15,062,586 |
| JPMorgan Chase & Company | 89,614 | 21,481,372 |
| Markel Group, Inc. (a) | 11,438 | 19,744,619 |
| Wells Fargo & Company | 255,757 | 17,964,372 |
| | | 182,405,921 |
| Health Care - 17.2% |
| Becton, Dickinson and Company | 85,677 | 19,437,541 |
| Bristol-Myers Squibb Company | 445,188 | 25,179,833 |
| Elevance Health, Inc. | 44,926 | 16,573,202 |
| Johnson & Johnson | 196,306 | 28,389,774 |
| Medtronic plc | 252,099 | 20,137,668 |
| Merck & Company, Inc. | 142,723 | 14,198,084 |
| Sanofi - ADR | 525,040 | 25,322,679 |
| | | 149,238,781 |
| DAVENPORT VALUE & INCOME FUND |
| SCHEDULE OF INVESTMENTS (Continued) |
| |
| COMMON STOCKS - 98.0% (Continued) | Shares | Value |
| Industrials - 17.1% |
| FedEx Corporation | 51,370 | $ 14,451,922 |
| Johnson Controls International plc | 290,375 | 22,919,299 |
| L3Harris Technologies, Inc. | 119,534 | 25,135,610 |
| Norfolk Southern Corporation | 106,081 | 24,897,211 |
| TE Connectivity plc | 144,697 | 20,687,330 |
| United Parcel Service, Inc. - Class B | 175,884 | 22,178,972 |
| Watsco, Inc. | 39,678 | 18,803,007 |
| | | 149,073,351 |
| Real Estate - 4.2% |
| American Tower Corporation | 89,669 | 16,446,191 |
| Lamar Advertising Company - Class A | 166,231 | 20,236,962 |
| | | 36,683,153 |
| Technology - 4.9% |
| HP, Inc. | 548,766 | 17,906,235 |
| Oracle Corporation | 148,255 | 24,705,213 |
| | | 42,611,448 |
| Utilities - 3.6% |
| NextEra Energy, Inc. | 435,887 | 31,248,739 |
| | | |
| Total Common Stocks (Cost $658,257,520) | $ 852,374,673 |
| | | |
| | | |
| MONEY MARKET FUNDS - 1.9% | Shares | Value |
| First American Treasury Obligations Fund - Class X, 4.40% (b) (Cost $16,874,143) | 16,874,143 | $ 16,874,143 |
| | | |
| Total Investments at Value - 99.9% (Cost $675,131,663) | $ 869,248,816 |
| | |
| Other Assets in Excess of Liabilities - 0.1% | 885,533 |
| | |
| Net Assets - 100.0% | $ 870,134,349 |
| |
| DAVENPORT EQUITY OPPORTUNITIES FUND |
| SCHEDULE OF INVESTMENTS |
| December 31, 2024 (Unaudited) |
| |
| COMMON STOCKS - 97.6% | Shares | Value |
| Communications - 2.5% |
| Take-Two Interactive Software, Inc. (a) | 120,367 | $ 22,157,157 |
| | | |
| Consumer Discretionary - 23.4% |
| CarMax, Inc. (a) | 402,058 | 32,872,262 |
| DraftKings, Inc. - Class A (a) | 931,916 | 34,667,275 |
| Etsy, Inc. (a) | 527,043 | 27,875,304 |
| Live Nation Entertainment, Inc. (a) | 490,291 | 63,492,685 |
| Mobileye Global, Inc. - Class A (a) | 847,700 | 16,886,184 |
| O'Reilly Automotive, Inc. (a) | 29,823 | 35,364,114 |
| | | 211,157,824 |
| Consumer Staples - 2.5% |
| Casey's General Stores, Inc. | 56,984 | 22,578,770 |
| | | |
| Financials - 24.2% |
| Brookfield Asset Management Ltd. - Class A | 468,039 | 25,363,034 |
| Brookfield Corporation | 1,035,707 | 59,501,367 |
| Fairfax Financial Holdings Ltd. | 22,652 | 31,480,844 |
| Fidelity National Financial, Inc. | 356,894 | 20,036,029 |
| Kinsale Capital Group, Inc. | 115,026 | 53,502,043 |
| Markel Group, Inc. (a) | 16,445 | 28,387,852 |
| | | 218,271,169 |
| Health Care - 7.8% |
| Align Technology, Inc. (a) | 200,553 | 41,817,306 |
| Avantor, Inc. (a) | 1,348,750 | 28,418,163 |
| | | 70,235,469 |
| Industrials - 19.5% |
| Clean Harbors, Inc. (a) | 153,011 | 35,213,952 |
| Enovis Corporation (a) | 811,227 | 35,596,641 |
| ESAB Corporation | 267,670 | 32,104,340 |
| J.B. Hunt Transport Services, Inc. | 137,578 | 23,479,061 |
| Watsco, Inc. | 46,599 | 22,082,800 |
| Xylem, Inc. | 236,567 | 27,446,503 |
| | | 175,923,297 |
| Materials - 6.5% |
| Martin Marietta Materials, Inc. | 61,832 | 31,936,228 |
| Sherwin-Williams Company (The) | 79,460 | 27,010,838 |
| | | 58,947,066 |
| Real Estate - 5.1% |
| American Tower Corporation | 105,282 | 19,309,772 |
| | | |
| DAVENPORT EQUITY OPPORTUNITIES FUND |
| SCHEDULE OF INVESTMENTS (Continued) |
| |
| COMMON STOCKS - 97.6% (Continued) | Shares | Value |
| Real Estate - 5.1% (Continued) |
| Lamar Advertising Company - Class A | 221,240 | $ 26,933,757 |
| | | 46,243,529 |
| Technology - 6.1% |
| Alight, Inc. - Class A | 3,171,260 | 21,945,119 |
| Autodesk, Inc. (a) | 57,011 | 16,850,741 |
| PTC, Inc. (a) | 87,424 | 16,074,651 |
| | | 54,870,511 |
| | | |
| Total Common Stocks (Cost $607,451,873) | $ 880,384,792 |
| | | |
| | | |
| MONEY MARKET FUNDS - 2.5% | Shares | Value |
| First American Treasury Obligations Fund - Class X, 4.40% (b) (Cost $22,246,115) | 22,246,115 | $ 22,246,115 |
| | | |
| Total Investments at Value - 100.1% (Cost $629,697,988) | $ 902,630,907 |
| | |
| Liabilities in Excess of Other Assets - (0.1%) | (621,652) |
| | |
| Net Assets - 100.0% | $ 902,009,255 |
| |
| DAVENPORT SMALL CAP FOCUS FUND |
| SCHEDULE OF INVESTMENTS |
| December 31, 2024 (Unaudited) |
| |
| COMMON STOCKS - 94.6% | Shares | Value |
| Communications - 5.4% |
| Cable One, Inc. | 59,563 | $ 21,568,954 |
| Liberty Latin America Ltd. - Class C (a) | 2,902,627 | 18,402,655 |
| Shenandoah Telecommunications Company | 988,855 | 12,469,461 |
| | | 52,441,070 |
| Consumer Discretionary - 23.8% |
| Caesars Entertainment, Inc. (a) | 500,000 | 16,710,000 |
| DraftKings, Inc. - Class A (a) | 379,017 | 14,099,433 |
| Etsy, Inc. (a) | 672,988 | 35,594,335 |
| Golden Entertainment, Inc. | 1,277,880 | 40,381,008 |
| Monarch Casino & Resort, Inc. | 790,243 | 62,350,173 |
| OneSpaWorld Holdings Ltd. | 2,227,679 | 44,330,812 |
| Six Flags Entertainment Corporation | 373,248 | 17,986,821 |
| | | 231,452,582 |
| Consumer Staples - 4.0% |
| J & J Snack Foods Corporation | 248,460 | 38,543,600 |
| | | |
| Energy - 4.8% |
| California Resources Corporation | 727,191 | 37,733,941 |
| CNX Resources Corporation (a) | 257,856 | 9,455,580 |
| | | 47,189,521 |
| Financials - 10.9% |
| Atlantic Union Bankshares Corporation | 370,000 | 14,015,600 |
| Kinsale Capital Group, Inc. | 122,799 | 57,117,499 |
| Stewart Information Services Corporation | 514,051 | 34,693,302 |
| | | 105,826,401 |
| Health Care - 1.1% |
| Perrigo Company plc | 398,334 | 10,241,167 |
| | | |
| Industrials - 21.0% |
| Chart Industries, Inc. (a) | 134,066 | 25,585,156 |
| Enovis Corporation (a) | 1,124,999 | 49,364,956 |
| ESAB Corporation | 354,813 | 42,556,271 |
| Generac Holdings, Inc. (a) | 253,287 | 39,272,149 |
| Hexcel Corporation | 500,000 | 31,350,000 |
| Kirby Corporation (a) | 155,000 | 16,399,000 |
| | | 204,527,532 |
| Materials - 5.8% |
| NewMarket Corporation | 54,944 | 29,029,662 |
| Trex Company, Inc. (a) | 391,270 | 27,009,368 |
| | | 56,039,030 |
| DAVENPORT SMALL CAP FOCUS FUND |
| SCHEDULE OF INVESTMENTS (Continued) |
| |
| COMMON STOCKS - 94.6% (Continued) | Shares | Value |
| Real Estate - 8.0% |
| FRP Holdings, Inc. (a) | 204,121 | $ 6,252,226 |
| Janus International Group, Inc. (a) | 3,251,929 | 23,901,678 |
| Lamar Advertising Company - Class A | 145,431 | 17,704,770 |
| Outfront Media, Inc. | 1,717,176 | 30,462,703 |
| | | 78,321,377 |
| Technology - 9.8% |
| Alight, Inc. - Class A | 4,071,274 | 28,173,216 |
| HealthEquity, Inc. (a) | 298,565 | 28,647,312 |
| Verra Mobility Corporation (a) | 1,599,605 | 38,678,449 |
| | | 95,498,977 |
| | | |
| Total Common Stocks (Cost $793,186,755) | $ 920,081,257 |
| | | |
| | | |
| EXCHANGE-TRADED FUNDS - 2.4% | Shares | Value |
| ALPS Medical Breakthroughs ETF (Cost $22,485,098) | 723,402 | $ 23,893,968 |
| | | |
| | | |
| MONEY MARKET FUNDS - 3.4% | Shares | Value |
| First American Treasury Obligations Fund - Class X, 4.40% (b) (Cost $32,741,042) | 32,741,042 | $ 32,741,042 |
| | | |
| Total Investments at Value - 100.4% (Cost $848,412,895) | $ 976,716,267 |
| | |
| Liabilities in Excess of Other Assets - (0.4%) | (3,850,966) |
| | |
| Net Assets - 100.0% | $ 972,865,301 |
| |
| DAVENPORT BALANCED INCOME FUND | |
| SCHEDULE OF INVESTMENTS | |
| December 31, 2024 (Unaudited) | |
| | |
| COMMON STOCKS - 57.0% | Shares | Value |
| Communications - 1.6% | |
| Comcast Corporation - Class A | 102,201 | $ 3,835,604 |
| | | |
| Consumer Discretionary - 3.3% | |
| Genuine Parts Company | 17,247 | 2,013,760 |
| Lowe's Companies, Inc. | 11,344 | 2,799,699 |
| McDonald's Corporation | 9,828 | 2,849,039 |
| | | 7,662,498 |
| Consumer Staples - 8.4% | |
| Anheuser-Busch InBev S.A./N.V. - ADR | 74,741 | 3,742,282 |
| Hershey Company (The) | 10,245 | 1,734,991 |
| Kenvue, Inc. | 108,000 | 2,305,800 |
| Keurig Dr Pepper, Inc. | 86,948 | 2,792,770 |
| PepsiCo, Inc. | 14,405 | 2,190,424 |
| Philip Morris International, Inc. | 34,859 | 4,195,280 |
| Walmart, Inc. | 31,149 | 2,814,312 |
| | | 19,775,859 |
| Energy - 5.3% | |
| Chevron Corporation | 31,803 | 4,606,347 |
| Enbridge, Inc. | 60,275 | 2,557,468 |
| Enterprise Products Partners, L.P. | 87,000 | 2,728,320 |
| Schlumberger Ltd. | 66,615 | 2,554,019 |
| | | 12,446,154 |
| Financials - 11.4% | |
| Berkshire Hathaway, Inc. - Class B (a) | 6,141 | 2,783,593 |
| Brookfield Asset Management Ltd. - Class A | 60,284 | 3,266,790 |
| Brookfield Corporation | 60,623 | 3,482,791 |
| Citigroup, Inc. | 33,536 | 2,360,599 |
| Fairfax Financial Holdings Ltd. | 2,819 | 3,917,733 |
| Fidelity National Financial, Inc. | 39,078 | 2,193,839 |
| JPMorgan Chase & Company | 13,486 | 3,232,729 |
| Markel Group, Inc. (a) | 1,665 | 2,874,173 |
| Wells Fargo & Company | 37,851 | 2,658,654 |
| | | 26,770,901 |
| Health Care - 9.3% | |
| Becton, Dickinson and Company | 12,941 | 2,935,925 |
| Bristol-Myers Squibb Company | 64,412 | 3,643,143 |
| Elevance Health, Inc. | 6,712 | 2,476,057 |
| Johnson & Johnson | 28,470 | 4,117,331 |
| Medtronic plc | 36,857 | 2,944,137 |
| Merck & Company, Inc. | 21,100 | 2,099,028 |
| | | | |
| DAVENPORT BALANCED INCOME FUND | |
| SCHEDULE OF INVESTMENTS (Continued) | |
| | |
| COMMON STOCKS - 57.0% (Continued) | Shares | Value |
| Health Care - 9.3% (Continued) | |
| Sanofi - ADR | 78,443 | $ 3,783,306 |
| | | 21,998,927 |
| Industrials - 9.2% | |
| FedEx Corporation | 7,451 | 2,096,190 |
| Johnson Controls International plc | 42,024 | 3,316,954 |
| L3Harris Technologies, Inc. | 17,290 | 3,635,741 |
| Norfolk Southern Corporation | 15,848 | 3,719,525 |
| TE Connectivity plc | 20,730 | 2,963,768 |
| United Parcel Service, Inc. - Class B | 26,017 | 3,280,744 |
| Watsco, Inc. | 5,866 | 2,779,839 |
| | | 21,792,761 |
| Real Estate - 2.3% | |
| American Tower Corporation | 13,316 | 2,442,287 |
| Lamar Advertising Company - Class A | 24,867 | 3,027,309 |
| | | 5,469,596 |
| Technology - 2.7% | |
| HP, Inc. | 81,357 | 2,654,679 |
| Oracle Corporation | 22,153 | 3,691,576 |
| | | 6,346,255 |
| Utilities - 3.5% | |
| Brookfield Infrastructure Partners, L.P. | 61,867 | 1,966,752 |
| Brookfield Renewable Partners, L.P. | 76,999 | 1,754,807 |
| NextEra Energy, Inc. | 63,059 | 4,520,700 |
| | | 8,242,259 |
| | | |
| Total Common Stocks (Cost $107,237,197) | | $ 134,340,814 |
| | | |
| | | |
| FIXED RATE CORPORATE BONDS - 28.9% | Par Value | Value |
| Communications - 3.8% | | |
| Meta Platforms, Inc., 4.950%, due 05/15/2033 | $ 4,990,000 | $ 4,998,236 |
| VeriSign, Inc., 5.250%, due 04/01/2025 | 3,950,000 | 3,949,148 |
| | | 8,947,384 |
| Consumer Discretionary - 0.6% | | |
| Lowe's Companies, Inc., 4.400%, due 09/08/2025 | 1,525,000 | 1,522,808 |
| | | |
| Consumer Staples - 2.3% | | |
| Keurig Dr Pepper, Inc., 5.050%, due 03/15/2029 | 2,500,000 | 2,507,369 |
| Phillip Morris International, Inc., 5.375%, due 02/15/2033 | 2,995,000 | 3,001,509 |
| | | 5,508,878 |
| | | | | |
| DAVENPORT BALANCED INCOME FUND | |
| SCHEDULE OF INVESTMENTS (Continued) | |
| | |
| FIXED RATE CORPORATE BONDS - 28.9% (Continued) | Par Value | Value |
| Energy - 5.8% | | |
| Boardwalk Pipelines, L.P., 4.450%, due 07/15/2027 | $ 2,200,000 | $ 2,176,954 |
| BP Capital Markets America, 4.812%, due 02/13/2033 | 2,990,000 | 2,885,398 |
| MPLX, L.P., 4.125%, due 03/01/2027 | 3,250,000 | 3,201,963 |
| Occidental Petroleum Corporation, 5.550%, due 10/01/2034 | 3,500,000 | 3,410,180 |
| ONEOK, Inc., 5.550%, due 11/01/2026 | 1,995,000 | 2,019,695 |
| | | 13,694,190 |
| Financials - 6.9% | | |
| Bank of Montreal, 5.920%, due 09/25/2025 | 3,990,000 | 4,027,974 |
| BlackRock, Inc., 4.750%, due 05/25/2033 | 3,000,000 | 2,938,334 |
| Charles Schwab Corporation (The), 5.875%, due 08/24/2026 | 3,750,000 | 3,814,626 |
| Royal Bank of Canada, 5.000%, due 05/02/2033 | 3,000,000 | 2,949,504 |
| Wells Fargo & Company, 4.811%, due 01/15/2026 | 2,500,000 | 2,507,158 |
| | | 16,237,596 |
| Health Care - 5.1% | | |
| Bristol-Myers Squibb Company, 5.900%, due 11/15/2033 | 3,000,000 | 3,149,744 |
| HCA, Inc., 5.450%, due 04/01/2031 | 3,500,000 | 3,493,444 |
| Merck & Company, Inc., 4.500%, due 05/17/2033 | 2,490,000 | 2,399,534 |
| Zoetis, Inc., 5.400%, due 11/14/2025 | 2,990,000 | 3,005,678 |
| | | 12,048,400 |
| Industrials - 0.9% | | |
| Waste Management, Inc., 4.875%, due 02/15/2029 | 1,995,000 | 2,005,532 |
| | | |
| Technology - 2.2% | | |
| Fiserv, Inc., 3.200%, due 07/01/2026 | 2,325,000 | 2,274,058 |
| Oracle Corporation, 5.800%, due 11/10/2025 | 2,990,000 | 3,019,697 |
| | | 5,293,755 |
| Utilities - 1.3% | | |
| NextEra Energy Capital Holdings, Inc., 6.051%, due 03/01/2025 | 2,995,000 | 3,000,310 |
| | | |
| Total Fixed Rate Corporate Bonds (Cost $68,423,917) | | $ 68,258,853 |
| | | |
| | | |
| | | | | |
| DAVENPORT BALANCED INCOME FUND | |
| SCHEDULE OF INVESTMENTS (Continued) | |
| | |
| MUNICIPAL BONDS - 1.0% | Par Value | Value |
| Richmond, VA, GO, Public Improvement Bonds, | | |
| 4.800%, due 03/01/2033 (Cost $2,531,082) | $ 2,455,000 | $ 2,444,622 |
| | | |
| | | |
| U.S. GOVERNMENT & AGENCY OBLIGATIONS - 4.2% | Par Value | Value |
| Federal Farm Credit Bank - 4.2% | | |
| 5.26%, due 11/14/2033 | $ 5,000,000 | $ 4,985,517 |
| 5.33%, due 10/17/2039 | 5,000,000 | 4,972,776 |
| Total U.S. Government & Agency Obligations (Cost $9,971,673) | | $ 9,958,293 |
| | | |
| U.S. TREASURY OBLIGATIONS - 4.8% | Par Value | Value |
| U.S. Treasury Notes - 4.8% | |
| 2.750%, due 06/30/2025 | $ 4,810,000 | $ 4,775,503 |
| 4.750%, due 07/31/2025 | 2,000,000 | 2,005,508 |
| 4.875%, due 04/30/2026 | 2,500,000 | 2,519,336 |
| 3.875%, due 08/15/2033 | 2,000,000 | 1,903,672 |
| Total U.S. Treasury Obligations (Cost $11,175,596) | | $ 11,204,019 |
| | | |
| MONEY MARKET FUNDS - 3.6% | Shares | Value |
| First American Treasury Obligations Fund - Class X, 4.40% (b) (Cost $8,449,427) | 8,449,427 | $ 8,449,427 |
| | | |
| Total Investments at Value - 99.5% (Cost $207,788,892) | | $ 234,656,028 |
| | | |
| Other Assets in Excess of Liabilities - 0.5% | | 1,242,054 |
| | | |
| Net Assets - 100.0% | | $ 235,898,082 |
| | |
| | | | | |
| DAVENPORT INSIDER BUYING FUND |
| SCHEDULE OF INVESTMENTS |
| December 31, 2024 (Unaudited) |
| |
| COMMON STOCKS - 97.0% | Shares | Value |
| Consumer Discretionary - 6.8% |
| Genuine Parts Company | 19,875 | $ 2,320,605 |
| LKQ Corporation | 38,000 | 1,396,500 |
| NIKE, Inc. - Class B | 38,000 | 2,875,460 |
| | | 6,592,565 |
| Consumer Staples - 6.4% |
| Darling Ingredients, Inc. (a) | 53,000 | 1,785,570 |
| Kenvue, Inc. | 70,000 | 1,494,500 |
| Keurig Dr Pepper, Inc. | 90,000 | 2,890,800 |
| | | 6,170,870 |
| Energy - 3.3% |
| EOG Resources, Inc. | 26,000 | 3,187,080 |
| | | |
| Financials - 9.2% |
| Aon plc - Class A | 8,500 | 3,052,860 |
| Charles Schwab Corporation (The) | 49,000 | 3,626,490 |
| Everest Group Ltd. | 6,000 | 2,174,760 |
| | | 8,854,110 |
| Health Care - 13.5% |
| Align Technology, Inc. (a) | 16,000 | 3,336,160 |
| Bristol-Myers Squibb Company | 35,000 | 1,979,600 |
| Charles River Laboratories International, Inc. (a) | 14,800 | 2,732,080 |
| Johnson & Johnson | 14,000 | 2,024,680 |
| Zimmer Biomet Holdings, Inc. | 28,000 | 2,957,640 |
| | | 13,030,160 |
| Industrials - 20.7% |
| Amphenol Corporation - Class A | 29,000 | 2,014,050 |
| Chart Industries, Inc. (a) | 10,000 | 1,908,400 |
| Eaton Corporation plc | 6,200 | 2,057,594 |
| Emerson Electric Company | 19,500 | 2,416,635 |
| FedEx Corporation | 8,000 | 2,250,640 |
| Hexcel Corporation | 35,000 | 2,194,500 |
| Keysight Technologies, Inc. (a) | 17,500 | 2,811,025 |
| Norfolk Southern Corporation | 10,000 | 2,347,000 |
| United Parcel Service, Inc. - Class B | 16,000 | 2,017,600 |
| | | 20,017,444 |
| Materials - 7.6% |
| Air Products & Chemicals, Inc. | 10,700 | 3,103,428 |
| Ball Corporation | 35,500 | 1,957,115 |
| Corteva, Inc. | 40,000 | 2,278,400 |
| | | 7,338,943 |
| DAVENPORT INSIDER BUYING FUND |
| SCHEDULE OF INVESTMENTS (Continued) |
| |
| COMMON STOCKS - 97.0% (Continued) | Shares | Value |
| Real Estate - 1.5% |
| Mid-America Apartment Communities, Inc. | 9,500 | $ 1,468,415 |
| | | |
| Technology - 24.8% |
| Booz Allen Hamilton Holding Corporation | 11,500 | 1,480,050 |
| CDW Corporation | 11,000 | 1,914,440 |
| Leidos Holdings, Inc. | 10,500 | 1,512,630 |
| Marvell Technology, Inc. | 25,000 | 2,761,250 |
| Mastercard, Inc. - Class A | 7,400 | 3,896,618 |
| Maximus, Inc. | 40,000 | 2,986,000 |
| MSCI, Inc. | 3,870 | 2,322,039 |
| Skyworks Solutions, Inc. | 28,000 | 2,483,040 |
| TransUnion | 24,000 | 2,225,040 |
| Zebra Technologies Corporation - Class A (a) | 6,000 | 2,317,320 |
| | | 23,898,427 |
| Utilities - 3.2% |
| NextEra Energy, Inc. | 42,500 | 3,046,825 |
| | | |
| Total Common Stocks (Cost $88,237,806) | $ 93,604,839 |
| | | |
| | | |
| MONEY MARKET FUNDS - 3.1% | Shares | Value |
| First American Treasury Obligations Fund - Class X, 4.40% (b) (Cost $3,016,685) | 3,016,685 | $ 3,016,685 |
| | | |
| Total Investments at Value - 100.1% (Cost $91,254,491) | $ 96,621,524 |
| | |
| Liabilities in Excess of Other Assets - (0.1%) | (64,945) |
| | |
| Net Assets - 100.0% | $ 96,556,579 |
| |
