DAVENPORT & Co LLC
Reported US equity positions for Q1 2026 — $18.0B across 1,275 positions.
| Holding | Reported value | Share of portfolio | Shares |
|---|---|---|---|
| BN Brookfield Corporation Class A Limited Voting Shares | $424.4M | 2.4% | 10,487,219 |
| AMZN Amazon.com, Inc. | $402.7M | 2.2% | 1,944,922 |
| MKL Markel Group Inc. | $395.5M | 2.2% | 207,172 |
| AAPL Apple Inc. | $377.5M | 2.1% | 1,493,123 |
| MSFT Microsoft Corporation | $375.5M | 2.1% | 1,019,079 |
| NVDA NVIDIA Corporation | $349.4M | 1.9% | 2,003,591 |
| BRK.B Berkshire Hathaway Inc. | $346.9M | 1.9% | 725,245 |
| GOOGL Alphabet Inc. | $225.5M | 1.3% | 790,404 |
| JNJ Johnson & Johnson | $217.7M | 1.2% | 892,187 |
| UNH UnitedHealth Group Incorporated Common Stock (DE) | $215.1M | 1.2% | 801,710 |
| VOO Vanguard S&P 500 ETF | $207.1M | 1.1% | 346,582 |
| MLM Martin Marietta Materials, Inc. | $199.6M | 1.1% | 342,163 |
| WSO Watsco, Inc. | $198.4M | 1.1% | 545,278 |
| CVX Chevron Corporation | $190.0M | 1.1% | 914,824 |
| VIG Vanguard Div Appreciation ETF | $183.6M | 1.0% | 853,798 |
| NEE NextEra Energy, Inc. | $182.9M | 1.0% | 1,974,364 |
| KNSL Kinsale Capital Group, Inc. | $182.2M | 1.0% | 536,948 |
| UNP Union Pacific Corporation | $182.0M | 1.0% | 753,020 |
| AMT American Tower Corporation (REIT) | $176.5M | 1.0% | 1,026,871 |
| ELV Elevance Health, Inc. | $166.8M | 0.9% | 574,012 |
| XOM ExxonMobil Holdings Corporation | $165.9M | 0.9% | 976,268 |
| CMCSA Comcast Corporation | $157.7M | 0.9% | 5,486,348 |
| JPM JP Morgan Chase & Co. | $154.9M | 0.9% | 529,575 |
| G1151C101 Accenture PLC Ireland | $154.4M | 0.9% | 779,549 |
| SHW The Sherwin-Williams Company | $153.1M | 0.8% | 479,997 |
| MA Mastercard Incorporated | $152.5M | 0.8% | 306,025 |
| BAM Brookfield Asset Management Inc Class A Limited Voting Shares | $151.5M | 0.8% | 3,407,614 |
| AVGO Broadcom Inc. | $149.5M | 0.8% | 482,998 |
| ADI Analog Devices, Inc. | $146.0M | 0.8% | 458,850 |
| V Visa Inc. | $145.6M | 0.8% | 482,673 |
| ROK Rockwell Automation, Inc. | $144.7M | 0.8% | 406,350 |
| TJX The TJX Companies, Inc. | $141.9M | 0.8% | 893,891 |
| META Meta Platforms, Inc. | $141.6M | 0.8% | 247,510 |
| LAMR Lamar Advertising Company | $136.2M | 0.8% | 1,083,274 |
| DHR Danaher Corporation | $130.0M | 0.7% | 690,154 |
| NSC Norfolk Southern Corporation | $129.0M | 0.7% | 451,092 |
| COST Costco Wholesale Corporation | $126.2M | 0.7% | 126,630 |
| BUD Anheuser-Busch Inbev SA Sponsored ADR (Belgium) | $126.1M | 0.7% | 1,827,154 |
| LOW Lowe's Companies, Inc. | $124.8M | 0.7% | 529,535 |
| LHX L3Harris Technologies, Inc. | $124.1M | 0.7% | 360,854 |
| MRVL Marvell Technology, Inc. | $123.6M | 0.7% | 1,248,049 |
| G87052109 Te Connectivity PLC | $123.0M | 0.7% | 588,310 |
| MCD McDonald's Corporation | $122.7M | 0.7% | 395,365 |
| LYV Live Nation Entertainment, Inc. | $121.6M | 0.7% | 804,797 |
| EOG EOG Resources, Inc. | $117.2M | 0.7% | 803,186 |
| ICE Intercontinental Exchange Inc. | $113.8M | 0.6% | 723,897 |
| MRSH Marsh | $110.2M | 0.6% | 634,227 |
| G0403H108 Aon PLC | $108.9M | 0.6% | 337,041 |
| PM Philip Morris International Inc | $106.9M | 0.6% | 646,714 |
| CZR Caesars Entertainment, Inc. | $105.5M | 0.6% | 3,991,631 |
| ENB Enbridge Inc | $105.3M | 0.6% | 1,946,387 |
| C Citigroup, Inc. | $102.7M | 0.6% | 905,597 |
| SLB SLB Limited | $101.7M | 0.6% | 1,978,231 |
| CSCO Cisco Systems, Inc. | $101.3M | 0.6% | 1,307,768 |
| G51502105 Johnson Controls Internation | $101.0M | 0.6% | 778,556 |
| BDX Becton, Dickinson and Company | $100.3M | 0.6% | 641,035 |
| SNY Sanofi | $100.2M | 0.6% | 2,094,962 |
| UBER Uber Technologies, Inc. | $98.3M | 0.5% | 1,376,279 |
| CLH Clean Harbors, Inc. | $98.2M | 0.5% | 342,582 |
| BSV Vanguard Short-Term Bond ETF | $97.8M | 0.5% | 1,247,485 |
Long US equity positions only, as filed. 13F does not cover short positions, cash, bonds or non-US listings, so this is not the whole portfolio.
What changed last quarter
| Holding | Change | Now | Was | Shares |
|---|---|---|---|---|
| BN Brookfield Corporation Class A Limited Voting Shares | Trim | $424.4M | $544.2M | -11% |
| AMZN Amazon.com, Inc. | Trim | $402.7M | $472.9M | -5% |
| MKL Markel Group Inc. | Trim | $395.5M | $452.4M | -1% |
| AAPL Apple Inc. | Add | $377.5M | $362.5M | +12% |
| MSFT Microsoft Corporation | Add | $375.5M | $464.6M | +6% |
| BRK.B Berkshire Hathaway Inc. | Add | $346.9M | $269.9M | +35% |
| JNJ Johnson & Johnson | Trim | $217.7M | $228.6M | -19% |
| UNH UnitedHealth Group Incorporated Common Stock (DE) | Add | $215.1M | $222.4M | +19% |
| VOO Vanguard S&P 500 ETF | Add | $207.1M | $208.6M | +4% |
| MLM Martin Marietta Materials, Inc. | Trim | $199.6M | $218.0M | -2% |
| WSO Watsco, Inc. | Add | $198.4M | $159.3M | +16% |
| CVX Chevron Corporation | Trim | $190.0M | $172.2M | -19% |
| VIG Vanguard Div Appreciation ETF | Add | $183.6M | $167.2M | +12% |
| KNSL Kinsale Capital Group, Inc. | Add | $182.2M | $208.4M | +1% |
| UNP Union Pacific Corporation | Add | $182.0M | $113.7M | +54% |
| AMT American Tower Corporation (REIT) | Trim | $176.5M | $185.1M | -2% |
| XOM ExxonMobil Holdings Corporation | Trim | $165.9M | $121.1M | -3% |
| CMCSA Comcast Corporation | Add | $157.7M | $114.9M | +34% |
| JPM JP Morgan Chase & Co. | Trim | $154.9M | $186.7M | -9% |
| G1151C101 Accenture PLC Ireland | Add | $154.4M | $203.8M | +3% |
| SHW The Sherwin-Williams Company | Trim | $153.1M | $159.5M | -2% |
| BAM Brookfield Asset Management Inc Class A Limited Voting Shares | Trim | $151.5M | $182.1M | -2% |
| AVGO Broadcom Inc. | Trim | $149.5M | $193.3M | -13% |
| ADI Analog Devices, Inc. | Trim | $146.0M | $146.2M | -15% |
| ROK Rockwell Automation, Inc. | Trim | $144.7M | $160.5M | -1% |
| META Meta Platforms, Inc. | Trim | $141.6M | $224.7M | -27% |
| LAMR Lamar Advertising Company | Trim | $136.2M | $139.3M | -1% |
| DHR Danaher Corporation | Add | $130.0M | $152.8M | +4% |
| BUD Anheuser-Busch Inbev SA Sponsored ADR (Belgium) | Trim | $126.1M | $133.6M | -12% |
| LHX L3Harris Technologies, Inc. | Trim | $124.1M | $162.6M | -35% |
| MRVL Marvell Technology, Inc. | Trim | $123.6M | $113.4M | -6% |
| G87052109 Te Connectivity PLC | Trim | $123.0M | $136.2M | -1% |
| LYV Live Nation Entertainment, Inc. | Trim | $121.6M | $127.8M | -10% |
| EOG EOG Resources, Inc. | Trim | $117.2M | $95.2M | -11% |
| MRSH Marsh | Add | $110.2M | $95.4M | +24% |
| G0403H108 Aon PLC | Add | $108.9M | $95.3M | +25% |
| CZR Caesars Entertainment, Inc. | Trim | $105.5M | $101.8M | -8% |
| C Citigroup, Inc. | Trim | $102.7M | $127.0M | -17% |
| SLB SLB Limited | Trim | $101.7M | $88.2M | -14% |
| BDX Becton, Dickinson and Company | Add | $100.3M | $119.5M | +4% |
New and exited positions are only shown for managers whose entire filed portfolio fits inside the positions stored here. For a manager filing more than that, a holding leaving the stored set is indistinguishable from a holding being sold, so those are reported as adds and trims only.
What a 13F is
Any institutional manager exercising discretion over more than $100 million in US-listed equities must file a Form 13F with the SEC within 45 days of each quarter end, listing what they held on the last day of that quarter. The threshold was set in 1975 and has never been raised, so the filer population now runs to several thousand.
The four things it does not tell you
- It is stale. A filing describes positions as of quarter end and can arrive 45 days later. A manager who sold everything in week one of the new quarter files the same document as one who held.
- Long US equities only. No short positions, no cash, no bonds, no commodities, no foreign listings. A fund that looks heavily long in a 13F may be hedged in instruments that never appear.
- Not the whole firm. Assets are reported by the entity with discretion, so one manager can file under several CIKs, and the figure here is what that entity reported.
- Confidential treatment exists. A manager can apply to delay disclosing a position while building it. Those holdings appear later, if at all.
Why the biggest filers are not the interesting ones
The largest managers by reported value are index providers — they hold nearly everything, in proportion to the indices they track, because clients asked them to. Reading their filings for conviction is a category error. The filings worth attention are concentrated ones, where a small number of positions make up most of the portfolio, since that reflects a decision rather than a mandate.
The share-of-portfolio column is the one to read for this. A position that is 15% of a fund says something; the same dollar amount at 0.2% of an index tracker does not.
Where this comes from
The SEC's own quarterly Form 13F structured data sets, parsed here rather than bought from a vendor. Holdings are identified in the filings by CUSIP, and the mapping from CUSIP to ticker is the awkward part — that identifier is licensed rather than public, so the mapping is resolved through OpenFIGI and built up over time. Around 95% of reported value currently sits on a resolved ticker; the rest shows its CUSIP.
The rest of the section is on the Markets overview — including insider transactions, which are the same idea at the individual level, and the correlation finder, where each ticker's page carries its institutional ownership.