DAVENPORT & Co LLC
"13F equity value" = market value of this filer's US-listed long equity positions only. It excludes cash, bonds, non-US and short positions, so it understates a fund's true assets under management — often by a lot.
13F holdings are disclosed ~45 days after quarter-end, and they never reveal when within the quarter a fund actually bought. So any 13F-based summary is structurally late and blurred — this applies to every fund, including this one.
We backtested copying it anyway. Buying this fund's new positions the day each filing went public, over 30 quarters, returned +4.7% per quarter — versus +3.0% per quarter from simply owning every 13F stock. It beat that baseline in only 63.3% of quarters (excess t = 1.39, not statistically significant). Its filings tell you what it bought — not what you should buy.
Quarterly compounding, invested quarters only · entry 47 days after quarter-end (when 13F data becomes public)
Top 20 holdings of 1275 · 2026 Q1
| Ticker | Value | Weight | QoQ |
|---|---|---|---|
| BN | $424M | | TRIM |
| AMZN | $403M | | TRIM |
| MKL | $395M | | HOLD |
| AAPL | $377M | | ADD |
| MSFT | $375M | | ADD |
| NVDA | $349M | | HOLD |
| BRK/B | $347M | | ADD |
| GOOGL | $226M | | HOLD |
| JNJ | $218M | | TRIM |
| UNH | $215M | | ADD |
| VOO | $207M | | ADD |
| MLM | $200M | | HOLD |
| WSO | $198M | | ADD |
| CVX | $190M | | TRIM |
| VIG | $184M | | ADD |
| NEE | $183M | | HOLD |
| KNSL | $182M | | HOLD |
| UNP | $182M | | ADD |
| AMT | $176M | | TRIM |
| ELV | $167M | | HOLD |
QoQ vs previous quarter's share count · NEW = new position · ADD/TRIM = ±2% shares · HOLD = unchanged.
New positions in 2026 Q1
Method & Limitations
Method: a "new position" = held this quarter, absent last quarter (options excluded; stocks with <50 prior holders excluded to filter spin-off artifacts). Entry 47 days after quarter-end — the first day the public could act on the filing. Benchmark = equal-weighted universe of all 13F-held stocks. Limitations: quarterly snapshots can't see intra-quarter trades; survivorship bias — funds that shut down are absent, which flatters the sample. Statistics, not advice.