Davenport is a privately held investment firm established in 1863 and headquartered in Richmond, Virginia. The firm is an independent, limited liability company owned by 100% employee owned S corporations, with no employee owning more than 10% of the firm. Principal owners of the firm are Davenport & Company of Virginia, Inc., Davenport Corp., and Dava Corp.Davenport offers Asset Management, Retail Brokerage, Fixed Income, Public Finance, and Investment Banking and Advisory Services. The Investment Advisory Division of Davenport offers Davenport Asset Management (“DAM”) programs and Financial Advisor Managed programs described below. Davenport manages separate accounts for individuals, institutions, ERISA plans, trusts, estates, corporations, and other types of entities. DAM is also the Advisor to six mutual funds. The various managed account programs we offer can each be tailored to individual investors’ needs. You may impose restrictions on investing in certain securities or types of securities in your account. Davenport’s managed programs are available with several cost structures. Each program is managed in accordance with its program guidelines, regardless of the cost structure you choose – Wrap Fee, Fee and/or Commission or Commission Only (existing accounts only, commission only is no longer offered). Details about the cost structure options available for each program are discussed in Section 5 – Fees and Compensation. Davenport Asset Management Programs (“DAM”) DAM offers a variety of investment strategies. Separately managed accounts:  Core Leaders Portfolio (“Core Leaders”), which has the goal of outperforming the S&P 500® Index while taking less risk;  Value & Income Portfolio (“Value & Income”), which seeks to provide income and long‐term growth of capital;  Equity Opportunities Portfolio (“Equity Opportunities”), which has the goal of identifying small‐to‐medium sized companies with the potential for above average, long‐term results; Davenport Mutual Fund strategies:  Davenport Core Leaders Mutual Fund (“DAVPX”)  Davenport Value & Income Mutual Fund (“DVIPX”)  Davenport Equity Opportunities Mutual Fund (“DEOPX”) There are no separately managed accounts offered with the following strategies:  Davenport Small Cap Focus Fund (“DSCPX”). The fund has an investment objective of long‐term capital appreciation.  Davenport Insider Buying Fund (“DBUYX”). The fund has an investment objective of long‐term growth of capital.  Davenport Balanced Income Fund (“DBALX”). The fund has an investment objective of current income and the opportunity for long term growth. Exchange Traded Fund strategies:  ETFAdvisor (“ETFAdvisor”), the strategy has an investment objective to deliver well diversified portfolios of ETFs. Fixed Income strategies:  Individual investment‐grade bonds and/or Exchange Trade Funds (“ETFs”) which may be combined with the Core Leaders or Value & Income strategies.  A portfolio of ETFs which may be combined with the Core Leaders or Value & Income strategies. Mutual Fund strategies:  FundAdvisor (“FundAdvisor”), the strategies have a goal to deliver well diversified portfolios of mutual funds Blended strategies: 4 | Davenport & Company LLC – Firm Brochure Part 2A of Form ADV – March 25, 2024  Blended Allocation** (“Blended Allocation”), the portfolio will combine either the Core Leaders or the Value & Income stock strategies with select FundAdvisor mutual funds ManagerSelect (“DMS”)  Offers clients access to outside money manager strategies through a third‐party agreement between Davenport & Vestmark. Davenport receives a feed from Vestmark, with trading activity undertaken by the managers (“models”). This activity is then implemented in client accounts, which mirror the applicable model. DavenportOne  Offers clients the ability to aggregate various investment strategies including the ManagerSelect third‐party portfolio strategies and Davenport strategies, as well as certain mutual funds and ETFs in one account. Financial Advisor

Managed Programs Flexible Managed Account (“FMA”)  Offers the client a tailored portfolio in which the Financial Advisor manages your investments on either a discretionary or non‐discretionary basis. The program’s flexibility allows the Financial Advisor and you to structure portfolios in a manner deemed suitable for you. Portfolio Management Account (“PMA”)  Offers the client an account in which the Financial Advisor manages your investments according to your individual needs and objectives on a discretionary basis. The Portfolio Review Committee formally reviews your portfolio on a quarterly basis and makes suggestions as appropriate. Additional reviews by the Committee are available by request from either you or the Financial Advisor and are conducted at no extra charge. Portfolio Review (“PR”)  Offers the client a non‐discretionary account in which the Financial Advisor monitors your investments and recommends securities transactions according to your individual needs and objectives. The Portfolio Review Committee formally reviews each client’s portfolio on a quarterly basis and makes suggestions as appropriate. Other Programs Davenport Managed Assets Program (“DMAP”)  Offers the client discretionary portfolio management of held away assets such as defined contribution plan participant accounts. DMAP enables the Financial Advisor to view, manage and trade held away assets, and when deemed necessary, the Financial Advisor will rebalance the account considering client investment goals, risk tolerance, and current economic and market trends. Davenport’s services under this offering are limited to the investment options made available in the relevant plan. Flexible Retirement Account Consulting  A discretionary or non‐discretionary service, in which Davenport Financial Advisors provide consulting services to public and private participant directed retirement plans, such as 401(k) plans. The Plan Sponsor or participant will direct the portfolio selection. Generally custody and execution services are provided by a non‐affiliated third party of the Plan Sponsor’s choosing. RetirementAdvisor**  A qualified retirement plan platform that offers companies, and their employees, access to the same expertise and investment processes available through FundAdvisor. Generally, custody and execution services are provided by a non‐affiliated third party of the Plan Sponsor’s choosing. The services offered include: 5 | Davenport & Company LLC – Firm Brochure Part 2A of Form ADV – March 25, 2024  Investment Policy Statement Review, Performance Reports – periodic reports showing historical performance, asset allocation and the performance of each holding compared to benchmarks and market segments, Asset Allocation, Mutual Fund Research, Asset Classification  Participant Education Investment Consulting Services  Individualized investment consulting services are provided to clients regarding securities that are not custodied or otherwise managed by Davenport. Specific services will vary by client. Consulting services may include recommending asset allocation and/or security selection within a client’s employer sponsored retirement plan, preparing customized reports of investment holdings and results, assisting clients’ tax advisors in gathering information needed to prepare tax returns, reconciling client’s cash flows, or other services that may be reasonably requested. Financial Planning ● Davenport offers personal financial planning services that may include, but are not limited to, advice on education funding, asset allocation, budgeting and cash‐flow analysis, retirement planning, estate planning, and insurance planning. This service generally involves an initial meeting to gather data, and at least one subsequent meeting to discuss the recommendations. As of 12/31/23, Davenport’s Investment Advisory regulatory assets under management totaled $18,715,032,082 on a discretionary basis. As of 12/31/23, Davenport’s Investment Advisory regulatory assets under management totaled $617,645,879 on a non‐ discretionary basis.