Core Portfolio

Davenport Core Fund is focused on high quality growth opportunities including market leaders that typically outperform in volatile markets. 

Portfolio Objective

  • Long-term growth of capital

Investment Themes

  • Market Leaders/Concentrated Focus - Highest conviction ideas on industry leaders we know well
  • Wide Business Moats - Strong business models that are not easily duplicated
  • Capture Upside and Dampen Volatility - Seek low-risk investing opportunities

Portfolio Construction

  • The portfolio typically owns 45-55 stocks
  • Position sizes typically start in the 1-2% range
  • Broad sector diversification
  • Low portfolio turnover

Risk Management 

  • Tend to avoid significant balance sheet or business risk
  • Valuation sensitive with focus on margin of safety embedded in purchase price
  • Setting upside and downside price targets for all positions 
  • Typically close to fully invested
Portfolio Management
Investment Policy Committee