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

Portfolio Objective

  • Long-term growth of capital and current income

Investment Themes

  • Dividend Aristocrats: High-quality business with track records of maintaining and increasing dividends
  • High-Yielders with Capital Appreciation Potential: Above-average dividend yields and potential growth
  • Contrarian/Special Situations: Deep values, distressed stocks with temporary headwinds

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