Davenport Value and Income focuses on value opportunities and companies with meaningful dividends and dividend growth potential

Fund Objective

  • Long-term growth of capital and generating current income

Investment Themes

  • Dividend Achievers: High-quality businesses with track records of maintaining and increasing dividends
  • Above-Average-Yielders with Capital Appreciation Potential
  • Value/Contrarian: Inexpensive valuations with room for improvement

Portfolio Construction

  • The portfolio typically owns approximately 45 stocks
  • Position sizes typically start in the 1.5-2% range
  • Broad sector diversification
  • Low portfolio turnover – tax aware, allow value to compound

Risk Management

  • Seek to avoid significant balance sheet or business risk
  • Valuation sensitive with focus on margin of safety embedded in purchase price
  • Setting price targets for all positions
  • Typically close to fully invested

Portfolio Management


George L. Smith III, CFA
Michael S. Beall, CFA
Adam Bergman, 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.