Davenport Equity Opportunities portfolio is focused on capital appreciation through a concentrated and flexible approach.

Fund Objective

  • Long-term capital appreciation

Investment Themes

  • Compounding Growth: Strong capital allocation practices and high returns on invested capital
  • Owner/Operator: Ownership cultures vested in the long-term growth and success of their companies
  • Differentiated Perspective: Rigorous research helps to yield superior risk/return opportunities

Portfolio Construction

  • The portfolio typically owns 25-30 stocks
  • Position sizes typically start in the 2-3% range
  • Overweight high conviction ideas
  • Low portfolio turnover

Risk Management

  • Tend to avoid significant balance sheet or business risk
  • Rigorous research enables greater depth of knowledge of companies we follow and own
  • Valuation sensitive with focus on margin of safety embedded in purchase price

Portfolio Management
George L. Smith, CFA
Christopher G. Pearson, CFA

Investors should consider the Fund’s investment objectives, risks, charges, and expenses carefully before investing. The Fund’s prospectus contains this and other important information, should be read carefully before investing or sending money, and may be obtained from your Financial Advisor, www.investdavenport.com, or by calling (888) 285-1863.
Distributed by Ultimus Fund Distributors, LLC
Risk Considerations: The fund may not achieve its objective and/or you could lose money on your investment in the fund. Stock markets and investments in individual stocks are volatile and can decline significantly in response to market, foreign securities, small company, exchange traded fund, investment style and management risks. Small and mid cap company stocks may be more volatile than stocks of larger, more established companies. Please see the prospectus for further information on these and other risk considerations.