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

Portfolio 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