--- title: "Davenport 13F (2026 Q1): How to Read an Advisor's Whole Book" type: research slug: davenport-co-13f-2026-q1 canonical_url: https://13finsight.com/research/davenport-co-13f-2026-q1 published_at: 2026-05-24T07:08:50.304Z updated_at: 2026-05-24T08:28:16.708Z author: Marcus Chen author_title: Senior Market Analyst author_url: https://13finsight.com/authors/marcus-chen word_count: 546 locale: en source: 13F Insight --- # Davenport 13F (2026 Q1): How to Read an Advisor's Whole Book > Davenport's 13F is not a hedge fund's conviction book but a Virginia wealth advisor's aggregated holdings, about 500 names where nothing tops 2.4%. Read as a barometer of broad allocation, its 2026 Q1 drift tilted toward megacap tech, Berkshire and managed care. Not a hedge fund, an advisor's whole book Most 13Fs worth analyzing belong to a portfolio manager making deliberate bets. Davenport & Company's filing is a different animal, and recognizing that is the key to reading it correctly. Davenport is a Virginia-based wealth-management and brokerage firm, and its 2026Q1 13F aggregates roughly $17.8 billion across about 500 positions held on behalf of its many clients. This is not one investor's conviction portfolio; it is the combined footprint of a large advisory business. The single largest holding is just 2.38% of the total, and the top ten barely clear 1% to 2.4% each, a level of diffusion you simply never see in a true conviction manager. The roster is what you would expect from a broad, quality-oriented advisor: Brookfield, Amazon, Markel (a fellow Virginia company), Apple, Microsoft, Nvidia, Berkshire Hathaway, Alphabet, Johnson & Johnson, and UnitedHealth. It is a sensible core of large, durable businesses, the kind of holdings an advisor builds around for a diversified client base rather than to make a statement. Why the flat weighting changes how you read it The extreme even-weighting is the single most important fact about this filing. When no position exceeds 2.4% and hundreds of names fill out the tail, the portfolio is not expressing a view on any individual stock so much as providing broad, diversified market exposure. That has a practical consequence for anyone tempted to mine the filing for ideas: a holding's mere presence here means very little, because the book holds a little of almost everything a mainstream advisor would reasonably own. The signal is in the direction, not the holding If the presence of a stock carries little information, the changes still carry some. Across the quarter, the aggregated book added to several megacaps and quality names: Berkshire Hathaway by 35% of shares, UnitedHealth by 20%, Apple by 12%, and Microsoft by 6%. It trimmed Brookfield by 15% and Johnson & Johnson by 19%. Because these moves represent the net behavior of a large advisory base, they are better read as a gauge of broad allocation drift, where client money and advisor preference are leaning, than as sharp single-stock calls. The tilt this quarter was modestly toward megacap technology, Berkshire, and managed care, and away from Brookfield and a slice of healthcare staples. Reported value slipped just 2.3% quarter over quarter, and the multi-year history has been remarkably steady, climbing gently from around $16.5 billion to roughly $18 billion. That stability is itself characteristic: an advisor's aggregated book grows with markets and client flows rather than lurching with a manager's convictions. How to use an aggregated advisor filing The right way to read a filing like Davenport's is as a barometer, not a stock-tip sheet. It will not tell you which name an expert is pounding the table on, because there is no such name. What it can show you is how a large, mainstream, quality-tilted advisory base is allocated and how that allocation is drifting at the margin. Treated that way, it is a useful read on broad investor positioning; treated as a conviction portfolio, it will mislead you, because diffusion is the whole point. You can explore the full holdings, the position changes, and the longer history on the Davenport filer page. ## FAQ ### Is Davenport & Company a hedge fund? No. Davenport is a Virginia-based wealth-management and brokerage firm. Its 13F aggregates holdings managed on behalf of many clients, so the filing represents the combined footprint of an advisory business rather than one manager's conviction portfolio. ### How diversified is Davenport's 2026 Q1 portfolio? Extremely. The roughly $17.8 billion book holds about 500 positions, and the single largest is just 2.38% of the total, with the rest of the top ten between roughly 1% and 2.4% each, far more diffuse than a conviction manager. ### What are Davenport's largest holdings? The top positions were Brookfield (2.38%), Amazon (2.26%), Markel (2.22%), Apple (2.12%), and Microsoft (2.11%), followed by Nvidia, Berkshire Hathaway, Alphabet, Johnson & Johnson, and UnitedHealth. ### What did Davenport change in 2026 Q1? The aggregated book added 35% more Berkshire Hathaway, 20% more UnitedHealth, 12% more Apple, and 6% more Microsoft, while trimming Brookfield by 15% and Johnson & Johnson by 19%, a modest tilt toward megacap tech and managed care. ### How should I read an aggregated advisor 13F? Treat it as a barometer of broad allocation, not a stock-tip sheet. A holding's presence means little because the book owns a little of almost everything, but the direction of share-count changes can show how a mainstream advisory base is drifting. ### Why is Davenport's reported value so stable? Its value slipped just 2.3% quarter over quarter and has climbed gently from about $16.5 billion to roughly $18 billion over two years. An advisor's aggregated book grows with markets and client flows rather than lurching with a single manager's convictions. --- Source: 13F Insight — https://13finsight.com/research/davenport-co-13f-2026-q1 Author: Marcus Chen — https://13finsight.com/authors/marcus-chen Last updated: 2026-05-24T08:28:16.708Z