Davenport & Co. LLC
Davenport & Company LLC is an independent, employee-owned wealth management and financial advisory firm headquartered in Richmond, Virginia. Founded in 1863, Davenport serves thousands of individual and institutional clients, offering services including asset management, brokerage, public finance, investment banking, portfolio management, financial planning, pension consulting, market research, insurance, and selection of other advisors. The firm has expanded throughout the mid-Atlantic region and maintains a strong reputation for its client relationships, longevity, and industry leadership. It is a registered investment adviser and broker-dealer, and operates as a limited liability company with no single employee holding over 10% ownership. Davenport employs over 400 associates and manages client portfolios across a broad range of strategies.
Investment Strategy
Davenport & Company LLC employs diverse investment strategies including long- and short-term purchases, trading, short sales, margin transactions, and option writing. The firm utilizes both technical and fundamental analysis, as well as charting and cyclical approaches for security evaluation. A dedicated investment policy committee oversees strategy and decision-making, while Davenport Asset Management (DAM) provides several specialized portfolios focused on core leaders, value and income, equity opportunities, and balanced allocations. The firm manages separate accounts and five mutual funds, tailoring investment solutions to client needs. Their investment philosophy emphasizes trustworthiness, long-term value, and relationship-centric service.
Top Holdings
Equity Positions (1,182)
| Ticker | Security | Weight | Market Value | Shares | Avg Cost | Price | Change (QoQ) |
|---|---|---|---|---|---|---|---|
B BN | BROOKFIELD CORP | 3.11% | $583.8M | 8,488,957 | $36.02 | $45.72 | +$23.9M |
M MSFT | MICROSOFT CORP | 2.55% | $478.5M | 924,757 | $122.12 | $517.95 | +$15.6M |
A AMZN | AMAZON COM INC | 2.40% | $451.1M | 2,050,739 | $111.12 | $219.57 | -$1.9M |
M MKL | MARKEL GROUP INC | 2.09% | $391.4M | 205,027 | $712.10 | $1911.36 | -$16.9M |
N NVDA | NVIDIA CORPORATION | 2.00% | $376.0M | 2,024,739 | $61.35 | $186.58 | +$17.9M |
Options Positions (10)
| Ticker | Security | Action | Type | Notional Value | Contracts | Underlying Price | Premium Paid | Change (Contracts) | Change (Value) |
|---|---|---|---|---|---|---|---|---|---|
I IWM | ISHARES TR | Bought | Call | $82.7M | 3,419 | $241.96 | $224.69 | +1,163 | +$34.0M |
A AAPL | APPLE INC | New | Call | $29.0M | 1,139 | $254.63 | $254.63 | +1,139 | +$29.0M |
C CHTR | CHARTER COMMUNICATIONS INC N | Bought | Call | $19.2M | 699 | $275.11 | $342.29 | +11 | -$8.9M |
B BUD | ANHEUSER BUSCH INBEV SA/NV | Bought | Call | $14.5M | 2,437 | $59.61 | $50.44 | +44 | -$1.9M |
S SPY | SPDR S&P 500 ETF TR | Bought | Put | $5.8M | 87 | $666.18 | $646.73 | +73 | +$4.9M |