Generated by All in One SEO v4.9.6.2, this is an llms.txt file, used by LLMs to index the site. # Davenport & Co. Building Wealth Together ## Sitemaps - [XML Sitemap](https://www.investdavenport.com/sitemap.xml): Contains all public & indexable URLs for this website. ## Posts - [Blog](https://www.investdavenport.com/blog/) - [A Lightning Round on Markets](https://www.investdavenport.com/a-lightning-round-on-markets/) - March 21, 2022 Much has transpired since our late February update when Russia’s invasion of Ukraine commenced. Interestingly, however, markets are now higher than they were at the timing of that update. Read on for an update from George Smith, Chairman of the Investment Policy Committee. Click below to read the full update READ MORE ## Pages - [Home](https://www.investdavenport.com/) - At Davenport & Company, we believe that wealth management is timeless. Opportunities arise, trends change, and technologies evolve — but the fundamentals of investment research and management remain. Our financial advice and personal service are the foundation of our success with individuals and institutions across generations. Davenport is an independent, employee-owned firm, founded in Richmond, - [Meet Our Team](https://www.investdavenport.com/public-finance/meet-our-team/) - Managers of Public Finance David Rose Senior Vice President and Manager of Public Finance David Rose has served as Municipal Advisor to public sector clients throughout the United States for nearly 40 years. Since founding Davenport’s public finance practice in 1998, Mr. Rose focuses on the local government finance sector throughout the nation, ranging - [Services](https://www.investdavenport.com/advisors/shipplett-avery/services/) - Financial Planning Services Net Worth & Asset Allocation Analysis Education Planning and 529 Plans Retirement Planning and Cash Flow Analysis Employee Stock Option Analysis Planning for Tax, Estate & Charitable Giving Needs Investment Services Individual Stocks & Bonds Mutual Funds & Unit Investment Trusts Exchange Traded & Closed-End Funds Davenport Asset Management — offering various - [Shipplett-Avery Group](https://www.investdavenport.com/advisors/shipplett-avery/) - As a father-daughter team, the Shipplett-Avery Group understands the importance of caring for family and ensuring that the investments you make today will last into tomorrow. With more than 50 years of combined experience, they provide personalized financial guidance tailored to each client's unique goals, priorities, and long-term objectives. Shipplett-Avery Group is registered with the - [Professional Designations](https://www.investdavenport.com/professional-designations/) - Accredited Asset Management Specialist℠ (AAMS®) The Accredited Asset Management Specialist covers the asset management process; investors, policy and change; risk, return and investment performance; asset allocation and selection; investment strategies; taxation of investment products; investment opportunities for individual retirement; investment considerations for small business owners; executive compensation and benefit plans; insurance products for investment clients - [Davenport Value & Income Fund](https://www.investdavenport.com/davenport-asset-management/strategies/dvipx/) - 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 - [Davenport Equity Opportunities Fund](https://www.investdavenport.com/davenport-asset-management/strategies/deopx/) - 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 - [Calliott, Demeter & Harrell](https://www.investdavenport.com/advisors/calliott-demeter-harrell/) - Calliott, Demeter & Harrell Investment & Wealth Advisors of Davenport & Company LLC provide personalized investment guidance, retirement planning, and comprehensive wealth management for individuals, families, and institutions across the United States. With more than 100 years of combined investment experience, our team approach cultivates an environment of shared ideas and offers clients focused areas of expertise. Calliott, - [Documents & Applications](https://www.investdavenport.com/davenport-asset-management/documents-applications/) - APPLICATIONS Davenport Funds New Account Form Davenport Funds Traditional/ROTH IRA Application Davenport Funds SIMPLE IRA Application Davenport Funds ESA Application ADDITIONAL FUND INFORMATION Form N-PX for Davenport Funds 2026 Davenport Funds Tax Information Davenport Fund Holdings as of 6/30/25 Davenport Fund Holdings as of 12/31/25 Davenport Financial Statements as of 09/30/25 Davenport Financial Statements as - [Client Services](https://www.investdavenport.com/davenport-asset-management/our-team/client-services/) - [Brown, Orensky & Cann](https://www.investdavenport.com/advisors/brown-orensky-cann/) - Delivering personalized service, Brown, Orensky & Cann offers a team approach to serving clients. We provide comprehensive wealth management services including financial and retirement planning, estate planning, and asset management services for individuals, business owners, corporations, foundations, trusts and endowments. We are financial problem solvers, and know our clients’ investment interests and their needs. In - [Firm Leadership](https://www.investdavenport.com/about-us/firm-leadership/) - [Quarterly Letters Archive](https://www.investdavenport.com/quarterly-letters/) - *Letters prior to Q2 2025 only contain FundAdvisor. - [Careers at Davenport](https://www.investdavenport.com/careers/) - Davenport & Company is one of the oldest employee-owned financial firms in the United States, which has thrived on a spirit of continuous improvement since 1863. Over the years Davenport has continuously attracted talented professionals of integrity with a wide range of experience and expertise who serve a broad base of individuals and families as - [Nik Pry](https://www.investdavenport.com/advisors/nik-pry/) - Nik Pry is committed to building lasting, meaningful relationships with clients through personalized financial planning. He meets you where you are. Every situation is unique, and his goal is to create a plan that puts you and your money in the best position to succeed long term. Every dollar should have a purpose and work - [Our Process](https://www.investdavenport.com/advisors/nik-pry/our-process/) - Everything we do starts with building a lasting relationship. We seek to understand our client's financial goals and challenges. We look forward to helping create and implement solutions for each situation, and as their life marches on and inevitably changes we are right there alongside helping support and adapt with them. We believe that small - [What Makes Us Different](https://www.investdavenport.com/davenport-asset-management/) - Davenport Asset Management is a boutique money manager founded in 1984 with over $13 billion in assets under management. Our competitive advantages come from our history, partnership, independence, experience, and process refined over the 160-year history of our firm. - [Investment Strategies](https://www.investdavenport.com/davenport-asset-management/strategies/) - Our focus is on two areas — long term returns and risk management. We believe a consistent investment discipline combined with risk management leads to outperformance over a complete market cycle with lower volatility. We accomplish this through our equity, fixed income and asset allocation strategies. EQUITY STRATEGIES Davenport Core Leaders Core Leaders started in - [Davenport Balanced Income Fund](https://www.investdavenport.com/davenport-asset-management/strategies/dbalx/) - The Davenport Balanced Income Fund is intended to provide a lower volatility investment option focused on balancing current income with long-term moderate capital appreciation. Fund Objective Balance between current income and long-term moderate capital appreciation Equity Investment Themes Dividend Aristocrats: High quality business with track records of maintaining and increasing dividends High Yielders with Capital - [Reuss Investment Group](https://www.investdavenport.com/advisors/reuss-investment-group/) - The Reuss Investment Group of Davenport & Company LLC is dedicated to understanding our client’s goals and needs and is committed to putting together a personal plan to give them the best chance of achieving all of their financial goals. We work with local families throughout the region to build solid, successful solutions for our - [Qualifications](https://www.investdavenport.com/advisors/reuss-investment-group/our-qualifications/) - Pete Reuss, AAMS®, Managing Director Graduate of Virginia Tech, B.S. In Finance and M.A. in Education Series 7, 31, 63, and 65 Registered with FINRA Holds State Variable Life, Health and Annuity licenses Earned Accredited Asset Management SpecialistSM professional designation Professional designations do not guarantee success or client satisfaction and should not be viewed as the sole - [There's Gold in Them Hills 2Q 2026](https://www.investdavenport.com/theres-gold-in-them-hills-2q-2026/) - 2026 Second Quarter Stock Market Update There's Gold in Them Hills July 2026 Equity indices posted exceptional gains in the second quarter. Negative investor sentiment at the end of Q1 planted the seeds for outsized returns as the market backdrop improved. Corporate earnings were generally encouraging, conflict with Iran eased from a boil to a - [Ballowe Geho Gottwald Roddey](https://www.investdavenport.com/advisors/bggr/) - Building and preserving wealth for our clients and their families. For more than 15 years, members of Ballowe Geho Gottwald Roddey (BGGR) have provided clients with the kind of background, skills and experience clients expect from a deep and dedicated bench of investment professionals. Ballowe Geho Gottwald Roddey combines the team’s individual financial skills with - [Client Disclosures](https://www.investdavenport.com/client-disclosures/) - Advisory Exemption Disclosures ADV Part 2A ADV Part 2A Appendix 1 Annual Notice to Clients Business Continuity Plan Client Relationship Summary (“Form CRS”) Dividend Reinvestment Plan Dreyfus Insured Deposits DAV Terms & Conditions Dreyfus Insured Deposits DAV Participating Bank List Fee Schedule & Other Important Information Information Security Statement and Cybersecurity Investors Exchange LLC (IEX) - [Dolan & Kastenbaum](https://www.investdavenport.com/advisors/dolan-kastenbaum/) - Using a collaborative team approach, the Dolan & Kastenbaum Wealth Management team specializes in building custom investment portfolios to create and maintain an allocation for clients to reach their needs and goals. They form long-term relationships built on trust, strive to make the investment process as easy as possible for clients, and provide exceptional service - [Is the Davenport Value & Income Fund (DVIPX) Doing its Job?](https://www.investdavenport.com/is-the-davenport-value-income-fund-dvipx-doing-its-job/) - Is the Davenport Value & Income Fund (DVIPX) Doing its Job? June, 2026 Our Value & Income strategy was started years ago with a dual mandate of: Value Investing Providing a solid and growing income stream via dividends The strategy began in 2001 as a separately managed account, with the Davenport Value & Income Fund - [Professionals](https://www.investdavenport.com/capital-markets/fixed-income/professionals/) - Our Fixed Income professionals have more than 400 years of combined experience in the finance industry and have an average of more than 16 years of industry experience. Chris Blair, Senior Vice President, began his career at Davenport in September 1983 after selling credit and life/accident insurance to banks, auto dealers, and home improvement companies for three years. He graduated - [ETFAdvisor](https://www.investdavenport.com/davenport-asset-management/strategies/etfadvisor-3/) - We created Davenport's ETFAdvisor program to help our clients intelligently invest in this increasingly complex ETF marketplace. We offer seven cost-effective portfolios of globally diversified stock and bond ETFs, with varying levels of risk exposure and return expectations. The benefits include diversification among multiple asset classes, cost-efficiency, annual rebalancing, and tax efficiency. Portfolio Management Geoffrey - [Introducing NEW ETFAdvisor Models](https://www.investdavenport.com/introducing-new-etfadvisor-models/) - Introducing NEW ETFAdvisor Models June, 2026 We are pleased to announce the launch of 2 new ETFAdvisor models. The ETFAdvisor Active-Passive Growth Model is designed to pursue long-term growth of capital using both passive index ETFs and actively managed ETFs. The ETFAdvisor Diversified Fixed Income Model seeks to generate a maximum amount of income with - [Owen, Whelen & Thompson](https://www.investdavenport.com/advisors/owen-whelen-thompson/) - Planning Today for Peace of Mind Tomorrow Managing your finances shouldn’t feel overwhelming. We have learned through decades of experience and countless conversations that strong advice and thoughtful planning can lead to confidence and peace of mind.Our approach starts with relationships—understanding what matters most to you so that we can build a plan that is - [Crawley Wealth Advisors](https://www.investdavenport.com/advisors/crawley-wealth-advisors/) - Crawley Wealth Advisors is grounded by the principles of providing sound investment advice and exceptional service to clients. We share personal relationships with individuals and families that stretch across generations, economic, and market cycles. Our role is to offer guidance and oversight in helping you pursue your life goals. You bring your unique needs to - [The King Wealth Management Group](https://www.investdavenport.com/advisors/king-group/) - Our Investing Philosophy: Investing alongside our clients. The King Wealth Management Group begins each new client relationship by listening to you. They will work with you to develop an investment plan that takes into account your risk tolerance and time horizon to help you reach your goals. Conservative by nature, the King Wealth Management Group constructs custom investment plans using - [Looking Ahead: Davenport’s Future Headquarters](https://www.investdavenport.com/looking-ahead-davenports-future-headquarters/) - An overview of our planned relocation. We are moving our firm headquarters to Kinsale Center, located at 2035 Maywill Street in Richmond’s Near West End, expected in the second half of 2027. This move reflects our long-term vision—enhancing the client experience while also creating a workplace where our employees can thrive. As we plan the - [Our Process](https://www.investdavenport.com/advisors/freeman-wealth-management/our-process/) - At Freeman Wealth Management, we believe that that path to helping people achieve their vision of life begins with comprehensive financial planning. Our approach to Wealth Management provides people the confidence they need to enjoy life, knowing that they have a dedicated team of professionals who is committed to helping them address every part of - [The Insider Advantage](https://www.investdavenport.com/the-insider-advantage/) - The Insider Advantage | The Davenport Insider Buying Fund May, 2026 Corporate insiders possess an information advantage that no analyst model can fully replicate. Open-market purchases represent a deliberate, discretionary commitment of personal capital. More than five decades of peer-reviewed finance research has documented that these purchases predict statistically significant abnormal returns. The strength of - [The HALO Effect](https://www.investdavenport.com/the-halo-effect/) - The HALO Effect April, 2026 The threat of disruption has sent shockwaves through the investing world. Many companies face heightened risk of being disrupted by Artificial Intelligence (AI) as the technology upends traditional business models. Within the technology industry itself, participants have formed a circular firing squad of sorts. The definition of “winners” and “losers” - [Wicker & Johnson Wealth Management](https://www.investdavenport.com/advisors/wicker-johnson/) - Building Wealth and Earning Trust The Wicker & Johnson Wealth Management team offers a personalized approach to financial consulting and asset management. As a team of dedicated professionals with over 35 years combined experience in the financial services industry, we believe in keeping things simple and follow our mission of providing objective, unbiased financial advice. - [A Lightning Round on Markets](https://www.investdavenport.com/a-lightening-round-on-markets/) - A Lightning Round on Markets March 21, 2022 Much has transpired since our late February update when Russia’s invasion of Ukraine commenced. Interestingly, however, markets are now higher than they were at the timing of that update. All told, the S&P 500® Index is down 6.1% year-to-date, by no means a disaster given the headlines - [Team Overview](https://www.investdavenport.com/advisors/reuss-investment-group/team-overview/) - WHO WE ARE • WHO WE SERVE • WHAT WE DO WHO WE ARE We are a dedicated 7-person team committed to helping wealthy families navigate the complexities of wealth with confidence and clarity. With a diverse background and deep expertise, we come together with a shared purpose: to build long-term relationships rooted in trust, - [Shreve W. Rohle](https://www.investdavenport.com/advisors/shreve-w-rohle/) - Providing comprehensive wealth management services and creating strong unique client relationships have been a focus of Shreve’s career. He takes pride in learning all of his client’s goals and establishing a plan to make them come a reality. Working with the extensive resources of Davenport, Shreve can help you manage your assets with a range - [Research Analysts](https://www.investdavenport.com/davenport-asset-management/our-team/research-analysts/) - [Our History](https://www.investdavenport.com/davenport-asset-management/our-history/) - [Topsy Turvy 1Q 2026](https://www.investdavenport.com/18605-2/) - 2026 First Quarter Stock Market Update Topsy-Turvy April 2026 It’s hard to write a letter these days. Any attempt to prepare thoughts in advance risks quickly being obsolesced (we hope this letter is still relevant when you read it!). Topsy-turvy is the best way to describe the first quarter of 2026. The year started on - [A Change of Tone 1Q 2025](https://www.investdavenport.com/a-change-of-tone-1q-2025/) - 2025 First Quarter Stock Market Update A Change of Tone April 2025 https://vimeo.com/1071590449?share=copy The first quarter was very eventful and brought a change of tone to markets. We started the year on a decent foot, but stocks weakened in mid-February amid political and economic uncertainty. While the S&P 500® Index finished the quarter down only - [Davenport Mobile App](https://www.investdavenport.com/davenport-mobile-app/) - Anytime Anywhere Access to Your Davenport Account The Davenport Mobile App gives you greater accessibility to your account information, allows you to set up a watch list for your favorite stocks, displays market data and quote information, and allows you to deposit checks from your mobile device into your account. You must be a Davenport client with an online account - [Equity Research Professionals](https://www.investdavenport.com/equity-research-professionals/) - [PRIVACY POLICY](https://www.investdavenport.com/client-disclosures/privacy-policy/) - Privacy Pledge to Customers This notice is being provided on behalf of Davenport & Company LLC and its affiliates. We respect your privacy and value the relationship we have with you. Our Privacy Pledge applies to only current or former individual customers who obtain financial products or services from Davenport primarily for personal, family or - [Freeman Wealth Management](https://www.investdavenport.com/advisors/freeman-wealth-management/) - Earning Trust and Building Wealth The Freeman Wealth Management team’s mission is to help affluent families and business owners reach their own vision of success and significance by building and protecting wealth in a tax efficient manner while providing exceptional service. Our knowledge, experience, and expertise only matter if our clients trust that we put their interests - [Askew Foley Wealth Management Group](https://www.investdavenport.com/advisors/askew-foley-wealth-management-group/) - As a team of dedicated professionals, the Askew Foley Wealth Management Group offers a personalized approach to financial consulting and asset management. We believe in keeping things simple and follow our mission of providing objective, unbiased financial advice. We listen and stay focused on placing your interests first. Each new client relationship begins by getting - [THIRD PARTY RELATIONSHIPS](https://www.investdavenport.com/client-disclosures/third-party-relationships/) - Like many securities firms, Davenport receives payments from third parties whose products we distribute, including mutual fund companies, cash sweep products and insurance companies. Payments from mutual funds, cash sweep products, and insurance companies may include commissions, trails, sales loads, rule 12b-1 fees, sub-transfer agent fees or other shareholder servicing fees for maintaining customer account - [Statement Of Financial-Condition](https://www.investdavenport.com/disclosures/statement-of-financial-condition/) - Download Audited Statement of Financial Condition Unaudited Mid-Year Consolidated Statement of Financial Condition The file you are downloading is provided in PDF (portable document) format. In order to view it, you must have the Adobe Acrobat Reader installed on your machine. Click here to download and install the Acrobat Reader. - [McCray, Davis & May Wealth Advisors](https://www.investdavenport.com/advisors/mccray-davis-may-wealth-advisors/) - Wealth attainment and management is about so much more than money. It is about personal goals, choices, and milestones that profoundly affect all aspects of your life, as well as the lives of those closest to you. As lifecycles evolve, your financial affairs become more complex and therefore trusted advice can make a real difference. - [Davenport Shares](https://www.investdavenport.com/about-us/davenport-shares/) - As an employee owned firm, Davenport & Company and our more than 450 associates have been giving back to the communities in which we live and work over the course of our 160 year history. As a firm, we are able to offer support through both monetary contributions and volunteer efforts. Through our community outreach - [Gallihugh Tarrant Wealth Management](https://www.investdavenport.com/advisors/gallihugh-tarrant/) - Building relationships that impact lives. As life unfolds, your financial affairs become more complex so trusted advice can make a difference. We established Gallihugh Tarrant Wealth Management of Davenport & Company LLC to provide unparalleled personal service, comprehensive planning and investment advice. We focus on making a difference in our clients’ financial lives beyond asset - [Mathis Wealth Management](https://www.investdavenport.com/advisors/mathis-wealth-management/) - A message from Brian Mathis, CFP® I collaborate with my clients to offer customized strategies to help them achieve their financial goals. From a widow who is courageously facing the next chapter of life, to an entrepreneur whose long hours and risk-taking have finally paid off. From an executive who wants to help ease the - [Murray Anderson](https://www.investdavenport.com/advisors/murray-anderson/) - With more than 60 years of combined experience in the financial industry, Murray Anderson Wealth Management is committed to building long-term relationships founded on trust and focused on the needs and goals of each investor and their families. John Murray is registered with the Financial Industry Regulatory Authority to offer securities services to clients who - [Edgar Love](https://www.investdavenport.com/advisors/edgar-love/) - Building Wealth and Earning Trust We help affluent individuals and institutions by providing a road map for their financial journey. Utilizing a thorough process which identifies your priorities and goals, we help you to maximize your confidence in a successful retirement backed by a sound financial plan. We listen before everything else and make sure - [Allburn Financial Consulting](https://www.investdavenport.com/advisors/allburn/) - "It's not the ship so much as the skillful sailing that assures the prosperous voyage."– George William Curtis Allburn Financial Consulting of Davenport & Company LLC is a professional financial group grounded by the principles of providing sound investment advice and exceptional service to our clients. The role of Allburn Financial Consulting is to provide - [Brad Watson & Thomas Watson](https://www.investdavenport.com/advisors/brad-thomas-watson/) - They begin each new business relationship by listening to their clients’ needs to determine if their services are a good fit for them. Once they have a clear understanding of their life goals, risk tolerance, and time horizon, they determine the proper asset allocation and diversification for a portfolio. As a team, they help clients - [Ryan S. Poland, CFP®](https://www.investdavenport.com/advisors/ryan-poland/) - Ryan Poland is committed to providing clients with the highest level of professionalism and personal service. He specializes in comprehensive retirement and financial planning and believes a sound investment plan is critical in helping clients achieve their financial and life goals. Once he fully understands your goals, he will recommend a suitable investment program that - [Smythe, Vetrovec & Palangi](https://www.investdavenport.com/advisors/smythe-vetrovec-palangi-wealth-management/) - The Smythe, Vetrovec & Palangi Wealth Management group provides objective unbiased financial advice tailored to each client’s unique needs. Our approach begins with truly understanding you – your goals, values and aspirations. We share personal relationships with individuals and families that stretch across generations, economic and market cycles. By building strong relationships, we create highly - [Giles-Jett Investment Group](https://www.investdavenport.com/advisors/giles-jett-investment-group/) - Investing in you. Investing in your legacy. In 1967, Bob Giles excitedly accepted an offer from Alex Armour — a pillar of Davenport & Company who steered the firm for decades — to join him as his assistant. This venerated sage provided Bob with countless examples of work ethic and practicing the Golden Rule. Bob - [Coggeshall Wealth Management](https://www.investdavenport.com/advisors/coggeshall-wealth-management/) - With more than 30 years of industry experience, Coggeshall Wealth Management helps clients achieve their financial goals with custom investment advice and outstanding personal service. For individual, family, and businesses, Coggeshall Wealth Management offers a wide range of financial planning services and investment solutions that strive to build and preserve wealth, as well as create - [Branch Investment Group](https://www.investdavenport.com/advisors/branch-investment-group/) - The Branch Investment Group is a team of dedicated financial professionals with over 30 years of experience. Read Branch brings long-term experience in portfolio analysis and management for individual and corporate clients to the advisor team. Russell Branch joined the team in 2018 as an Investment Associate bringing energy and a drive for financial planning, - [Blankenship & Keiger](https://www.investdavenport.com/advisors/blankenship-keiger/) - Blankenship & Keiger Wealth Management is focused on serving successful individuals and business owners. We offer a range of services to high net worth investors – from providing investment advice to addressing sophisticated financial planning issues. With more than 23 years of collective experience in the financial services industry, Ryan and Joe have a deep - [Rush & Lux Wealth Management](https://www.investdavenport.com/advisors/rush-lux-wealth-management/) - We work hard to earn and maintain your trust. The Rush & Lux Wealth Management group is dedicated to providing comprehensive wealth management solutions tailored to the unique needs of our clients. With a commitment to excellence, we combine financial planning, investment management, and personalized client service to help individuals and families achieve their financial - [Davenport & Company News](https://www.investdavenport.com/news/) - [Financial Services](https://www.investdavenport.com/wealth-management/financial-services/) - In addition to a personal Financial Advisor, your Financial Services team includes dedicated CERTIFIED FINANCIAL PLANNER® professionals, insurance and annuity specialists, and experienced retirement plan professionals—all working to create a solid plan to give you more confidence in your financial future. Click Here to meet our Financial Services team. - [Important Tax Information](https://www.investdavenport.com/taxprep/) - [Well, That Was Interesting...What Now? Q4 2025](https://www.investdavenport.com/well-that-was-interesting-what-now-q4-2025/) - 2025 Fourth Quarter Stock Market Update Well, That Was Interesting...What Now? January 2026 This past year brought a dizzying series of events. We had DOGE, tariffs, the Middle East, the “Big Beautiful Bill”, the Fed and all things artificial intelligence (AI) give way to a dramatic swoon and even more dramatic recovery (oh and don’t - [SEC REPORTS](https://www.investdavenport.com/client-disclosures/sec-reports/) - Order Execution Information (SEC Rule 605) Davenport & Company LLC is not a market maker in equity securities. As such, we do not provide order execution information pursuant to SEC Rule 605. Order Routing Information (SEC Rule 606) Davenport & Company LLC exclusively routes orders in Rule 606 reportable securities to Pershing, LLC for order - [Chowning Wealth Management](https://www.investdavenport.com/advisors/chowningwm/) - Chowning Wealth Management of Davenport & Company believes in starting each new client relationship using a holistic approach to wealth management. We begin the process by listening closely to you to understand what you want to achieve with your financial assets. Once your investment objectives, risk tolerance, and time horizon are determined, we will recommend - [Investment Philosophy](https://www.investdavenport.com/advisors/chowningwm/investment-philosophy/) - Chowning Wealth Management is committed to providing objectivity in all phases of the investment process. Using a team approach, we draw on our collective experience and knowledge in helping our clients build and preserve wealth. We can utilize premier in-house and outside money managers to implement customized asset allocations for our clients and use investment - [Our Process](https://www.investdavenport.com/advisors/chowningwm/our-process/) - We believe that wealth management is about more than money. It’s about goals, choices, and milestones that profoundly affect all aspects of your life and the lives of those closest to you. Our role is to provide ongoing guidance to help you achieve your financial goals. In partnership with you, we will help you establish, - [Our Process](https://www.investdavenport.com/advisors/edgar-love/wiseman-love-process/) - We seek to enrich the lives of our clients and those we serve through sound financial advice, integrity and a commitment to personal service. Our investment experience has taught us two things: 1) No two investors or organizations are alike and 2) achieving one’s financial goals is a journey – not an event. We work - [Investment Philosophy](https://www.investdavenport.com/advisors/edgar-love/wiseman-love-investment-philosophy/) - Most investors start with good intentions, an ultimate goal, and a plan for success. However, with 24/7 information at our fingertips, all too often investors get wrapped up with the minutia or crisis of the day. This can happen with advisors as well. Advisors can become consumed by the daily data of investing and lose - [Shane M. Cason](https://www.investdavenport.com/advisors/shane-cason/) - Building Wealth and Earning Trust Shane Cason, CFP®, CRPC®, has more than 20 years of experience in the financial industry. He joined Davenport in 2017 and in 2018, he combined his practice with senior associates, Otto Williams and Ed Lawton to form the Williams-Lawton-Cason Group. After Otto passed away, Ed and Shane continued their partnership - [Our Team](https://www.investdavenport.com/davenport-asset-management/our-team/) - [Davenport 2025 Holiday Schedule](https://www.investdavenport.com/firm-closures-for-the-holidays/) - Davenport observes U.S. market holidays in alignment with the NYSE schedule. Please review the upcoming firm closures and plan accordingly. For assistance, contact your Financial Advisor or Client Service Associate. Wednesday, November 26: Early close at 4:15 PM ETThursday, November 27: Closed for ThanksgivingFriday, November 28: Early close at 1:15 PM ET Wednesday, December 24: - [Locations](https://www.investdavenport.com/locations/) - Davenport has more than 500 associates and branch locations throughout the mid-Atlantic region. HeadquartersOne James Center901 East Cary Street, Suite 1100Richmond, VA 23219(804) 780-2000 - [Wortham Price Partners](https://www.investdavenport.com/advisors/wortham-price-partners/) - Your trust is a privilege we work hard to maintain. Wortham Price Partners of Davenport & Company LLC was established to provide comprehensive wealth management services for individuals and their families, retirement planning and asset management services for business owners and corporations, and investment advisory services for foundations and endowments. We view our group as - [Office Locations](https://www.investdavenport.com/public-finance/office-locations/) - Headquarters One James Center 901 East Cary Street, Suite 1100 Richmond, VA 23219 (804) 780-2000 - [Davenport Health Center](https://www.investdavenport.com/davenport-health-center/) - in partnership with CareTeam Health At Davenport, we prioritize the health and well-being of our employees. To support this commitment, we opened the Davenport Health Center on April 30, 2018, in partnership with CareTeam Health. This onsite health center is exclusively available to Davenport employees and their families. The Davenport Health Center offers: Primary care - [Client Login](https://www.investdavenport.com/davenport-online-resources/) - Davenport Online — our investor website — gives you anywhere access to your account. Through thiswebsite you can access your statements, check balances, confirm trade requests, monitor your investments, manage your tax documents, set up watch lists, and more! The Modern Theme on Davenport Online provides an easy to use and interactive digital experience. Click - [Investing Themes for Today & Tomorrow](https://www.investdavenport.com/investing-themes-for-today-tomorrow/) - Davenport Asset Management presents the Virtual Investor Summit Series Investing Themes for Today & Tomorrow November 2025 This year has seen plenty of volatility brought on by record high markets and various governmental policies. How does an investor navigate under extreme conditions? Investing with purpose is crucial to developing a portfolio that allows for peace - [DBALX The Virtues of Vanilla](https://www.investdavenport.com/davenport-balanced-income-fund-dbalx/) - Davenport Balanced Income Fund (DBALX) The Virtues of Vanilla October 2025 Who likes vanilla? If we’re talking about ice cream, vanilla is among the world’s most-loved flavors. If we’re talking about investments, so-called “plain vanilla” securities often get a “bah, humbug” reaction. Maybe they shouldn’t. Using the graph to the right, we can make a - [The Good, the Bad, and the Overheated Q3 2025](https://www.investdavenport.com/the-good-the-bad-and-the-overheated-q3-2025/) - 2025 Third Quarter Stock Market Update The Good, the Bad, and the Overheated October 2025 Market indices continued to charge higher in the third quarter. After a stunning recovery from tariff-induced hysteria in Q2, stocks added to their gains in impressive fashion. The S&P 500® Index and Russell 2000® Index advanced 8.1% and 12.4%. Year-to-date, - [Fake News! Cybersecurity in the Era of AI](https://www.investdavenport.com/fake-news-cybersecurity-in-the-era-of-ai/) - Davenport Asset Management presents the Virtual Investor Summit Series Fake News! Cybersecurity in the Era of AI July 2025 Cybersecurity has been a major concern for years, but with the recent proliferation of artificial intelligence (AI), the risks are changing and constantly evolving. Watch this video as Davenport’s Jeff Potter illuminates the concerns and safeguards - [Financial Planning for Philanthropists](https://www.investdavenport.com/financial-planning-for-philanthropists/) - Davenport Asset Management presents the Virtual Investor Summit Series Financial Planning for Philanthropists February 2025 Watch this video as Davenport Asset Management hosts Ann Deppman, Assistant Vice President of Planned Giving at VCU, Jason Chestnutt, Executive Director of Planned Giving at VCU, and Lisa Hatcher, Financial Planning Product Manager of Davenport & Company, as they discuss - [Our Services](https://www.investdavenport.com/advisors/allburn/allburn-group-our-services/) - FINANCIAL PLANNING SERVICES • INVESTMENT SERVICES • OTHER SERVICES FINANCIAL PLANNING SERVICES We believe everyone needs a plan for their finances, but what that plan looks like depends on your goals. Financial planning is the foundation of understanding a client’s financial situation, goals and objectives. In order to better serve your needs, we take a - [Public Finance in Virginia](https://www.investdavenport.com/public-finance/client-snapshots/public-finance-in-virginia/) - [Investment Process](https://www.investdavenport.com/advisors/brad-thomas-watson/investment-process/) - Our priority is helping to develop and maintain your financial security. We work to accomplish this through sound investment guidance, consistent customer service, and dedication to our process which includes the following: Developing a comprehensive analysis of your personal and financial situation through ongoing discussions of your goals, risk tolerance, and time horizon. Creating a - [Investment Services](https://www.investdavenport.com/advisors/brad-thomas-watson/investment-services/) - Financial Planning Services Net Worth & Asset Allocation Analysis Education Planning and 529 Plans Retirement Planning and Cash Flow Analysis Employee Stock Option Analysis Planning for Tax, Estate & Charitable Giving Needs Investment Services Individual Stocks & Bonds Mutual Funds & Unit Investment Trusts Exchange Traded & Closed-End Funds Davenport Asset Management — offering various - [Business Development](https://www.investdavenport.com/davenport-asset-management/our-team/business-development/) - [Mercadante Riggan](https://www.investdavenport.com/advisors/mercadante-riggan-wealth-management/) - Mercadante Riggan Wealth Management offers a team approach in providing comprehensive wealth management services including financial, retirement, estate planning, and asset management services for individuals, business owners, corporations, foundations, trusts, and endowments. We are financial problem solvers. In an industry where the size of the financial institution is often a substitute for the quality of - [Services](https://www.investdavenport.com/advisors/nik-pry/services/) - Financial Planning Services Net Worth and Asset Allocation Analysis Education Planning and 529 Plans Retirement Planning and Cash Flow Analysis Employee Stock Option Analysis Planning for Tax, Estate and Charitable Giving Needs Business Succession, Sales, and Valuation Sudden Wealth Planning Investment Services Individual Stocks and Bonds Mutual Funds and Unit Investment Trusts Exchange Traded and - [Concentrated](https://www.investdavenport.com/concentrated/) - Davenport's Concentrated Small and Mid Cap Funds *Equity Opportunities also available in SMA format. Mutual Fund investing involves risk, principal loss is possible. 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, - [Forsyth & Thacker](https://www.investdavenport.com/advisors/forsyth-thacker/) - Forsyth & Thacker Wealth Management places clients at the center of everything that we do. We strive to have a personal relationship, with a desire to understand the “why” behind every question and solution. We serve everyone from individuals to families to small businesses, offering tailored financial advice based on time horizon, risk tolerance and - [Services](https://www.investdavenport.com/advisors/forsyth-thacker/services/) - Financial Planning Services Net Worth & Asset Allocation Analysis Education Planning and 529 Plans Retirement Planning and Cash Flow Analysis Employee Stock Option Analysis Planning for Tax, Estate & Charitable Giving Needs* Investment Services Individual Stocks & Bonds Mutual Funds & Unit Investment Trusts Exchange Traded & Closed-End Funds Davenport Asset Management — offering various - [Investment Philosophy](https://www.investdavenport.com/advisors/forsyth-thacker/investment-philosophy/) - Multiple approaches are effective in identifying attractive investment opportunities. Your account will be invested in securities that we believe will be good investments based on a fundamental, macro and/or technical analysis of the company or security. The fundamental analysis seeks to identify companies that demonstrate strong growth potential, have strong and focused management, solid balance - [Our Process](https://www.investdavenport.com/advisors/forsyth-thacker/our-process/) - Each new client interaction begins with active listening which leads to a prioritization of your needs. Once we have identified your financial and life goals, we will develop an investment plan that considers your risk tolerance and time horizon. We encourage our clients to be involved in an annual review of their financial and life - [Anderson Financial Advisory Group](https://www.investdavenport.com/advisors/afagroup/) - Building relationships that impact lives. With over 80 years of combined experience in the investment industry, the Anderson Financial Advisory Group is committed to building long term relationships founded on trust and focused on the needs and goals of each investor and their families. We offer a wide range of financial planning services and investment - [Davenport Insider Buying Fund](https://www.investdavenport.com/davenport-asset-management/strategies/dbuyx/) - The Davenport Insider Buying Fund emphasizes opportunistic purchases in companies where senior management and board members are buying company stock. DBUYX co-managers, Adam Bergman, CFA, and Kevin Bennett, CFA, introduce the Fund and explain why insider buying is a compelling strategy. Fund Objective Long-term growth of capital Investment Themes Only investing in stocks with insider - [Davenport Small Cap Focus Fund](https://www.investdavenport.com/davenport-asset-management/strategies/dscpx/) - Davenport Small Cap Focus emphasizes smaller capitalization companies with significant growth potential through a concentrated approach. DSCPX portfolio managers, George Smith and Chris Pearson, discuss how they manage assets in the small cap space. Fund Objective Long-term growth of capital Investment Themes Differentiated ideas in a Less Efficient Universe: Under-followed names with strong growth potential Concentrated - [Davenport Core Leaders Fund](https://www.investdavenport.com/davenport-asset-management/strategies/davpx/) - Davenport Core Leaders Fund is focused on high quality growth opportunities including market leaders that typically outperform in volatile markets. Fund 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 - [Our Services](https://www.investdavenport.com/advisors/afagroup/our-services/) - FINANCIAL PLANNING SERVICES • INVESTMENT SERVICES • OTHER SERVICES FINANCIAL PLANNING SERVICES We believe everyone needs a plan for their finances, but what that plan looks like depends on your goals and financial situation. In order to better service your needs, we take a holistic approach to planning by focusing on everything that can impact - [Our Story](https://www.investdavenport.com/davenport-asset-management/our-story/) - Davenport Asset Management is a boutique money manager with more than $13 billion in assets under management. Inception in 1984 to offer our employee Profit Sharing Plan strategy to clients. Strong ownership culture with 100% employee ownership. Personal service and access to decision makers are paramount to quality relationships. WHAT MAKES US DIFFERENT Our History - [Sweeping Fear Under the Rug Q2 2025](https://www.investdavenport.com/19114-2/) - 2025 Second Quarter Stock Market Update Sweeping Fear Under the Rug July 2025 https://vimeo.com/1098278528?share=copy What a difference a couple months makes! Markets managed a remarkable comeback in the second quarter. While the S&P 500® Index’s 10.9% return for the quarter is very impressive, even more notable is its stunning 24% rally since the closing low - [The Fed, AI, and a Narrow Market Q2 2024](https://www.investdavenport.com/17352-2/) - 2024 Mid-Year Stock Market Update The Fed, AI, and a Narrow Market July 2024 https://vimeo.com/974218824?share=copy We are halfway through 2024. So far, results for equity markets have been mixed and the lead stories have been the Federal Reserve, artificial intelligence (AI) and “narrow” returns. Many large cap technology leaders have produced stellar returns while other - [Climbing the Wall Q3 2024](https://www.investdavenport.com/17748-2/) - 2024 Third Quarter Stock Market Update Climbing the Wall October 2024 https://vimeo.com/1015310816?share=copy The third quarter brought more gains to equity investors. The S&P 500® Index returned 5.9% and the Russell 2000® Index advanced 9.3%. Notably, gains broadened to corners of the market other than large cap technology stocks. Year-to-date returns are somewhat staggering in light - [About Us](https://www.investdavenport.com/about-us/) - About Us Employee owned and headquartered in Richmond, Virginia, with offices throughout the mid-Atlantic, Davenport & Company offers a range of wealth management and financial advisory services, including traditional stock and bond brokerage, professional money management, financial and retirement planning, market research, insurance, and public finance. Since Davenport's founding in 1863, the relationships we have with - [Advisor Opportunities](https://www.investdavenport.com/advisor-opportunities/) - Independence has been a cornerstone of our success for more than 160 years. We have been advisor owned, advisor led, and independent since 1863. Advisors make up 70% of our Board and own 70% of the firm. This solid combination of ownership and independence creates a culture that is focused on serving the long-term interests of our - [Making Sense of this Turbulent Market](https://www.investdavenport.com/making-sense-of-this-turbulent-market/) - Davenport Asset Management presents the Virtual Investor Summit Series Making Sense of this Turbulent Market June 2022 Davenport portfolio managers George Smith and Chris Pearson discuss markets, inflation, monetary policy, geopolitics and more in this discussion titled “Making Sense of this Turbulent Market.” Click below to watch. - [Equity Research](https://www.investdavenport.com/wealth-management/research/) - Accessible Insights for Our Advisors and Clients Davenport Equity Research offers valuable insights based on decades of analyzing the business fundamentals of companies across multiple sectors of the economy. We serve as a resource to our advisors, and ultimately our clients, in particular by providing accessibility through seminars, client presentations, and our publications. Our experience over - [Our Process](https://www.investdavenport.com/advisors/wicker-johnson/our-process/) - The role of the Wicker & Johnson Wealth Management team is to provide stewardship and oversight as you pursue your financial and life goals. Our process includes: Listening carefully to you regarding goals, risk tolerance, and time horizon. Creating an investment and asset allocation strategy as the basis for advice, taking into consideration your financial - [Disclosures](https://www.investdavenport.com/disclosures/) - Client Disclosures and Helpful Resources Statement of Financial Condition Prospectus Download - [Our History](https://www.investdavenport.com/about-us/our-history/) - Mutual Fund investing involves risk, principal loss is possible. 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 Davenport Financial Advisor, www.investdavenport.com, or by calling (888) - [Financial Planning](https://www.investdavenport.com/advisors/ryan-poland/financial-planning/) - Why Should You Have a Financial Plan? While you may have made prudent financial decisions over the years, many things may have changed over time, such as tax laws, your income, your financial goals, or your family situation. The financial planning process will help you focus on what you are trying to accomplish and allow - [Our Process](https://www.investdavenport.com/advisors/shipplett-avery/our-process/) - We know that every client is unique. Our investment approach starts with getting to know each client on a personal level to identify goals and analyze their current situation. Plans are developed and tailored to align investments with client objectives while minimizing costs, taxes*, and risk. Once adopted and implemented, our team monitors the investment - [Winstead Coghill Group](https://www.investdavenport.com/advisors/winstead-coghill/) - The Winstead Coghill Group is a team of dedicated financial professionals with over 50 years of combined experience. Our group offers you and your family a personalized approach to financial planning and asset management. We have created an integrated process to wealth management designed to help our clients capture opportunities as they continue to accumulate, - [Public Finance](https://www.investdavenport.com/public-finance/) - [Our Process](https://www.investdavenport.com/advisors/smythe-vetrovec-palangi-wealth-management/our-process/) - Providing a team approach to investing, our role is to provide stewardship and oversight as you pursue your financial and life goals. Our process includes: 1 - Discover Listen to Needs Identify Goals Determine Risk Tolerance Evaluate Resources 2 - Plan Create Your Personalized Financial Plan Retirement Living Expenses Education Life & Health Estate Planning 3 - Implement - [Financial Planning](https://www.investdavenport.com/advisors/smythe-vetrovec-palangi-wealth-management/financial-planning/) - Whether you have gone through financial planning or are new to the process, there is a part of the process that will be relevant to you and your financial goals. We use financial planning as a directive for wealth management and as an essential part of our process. Both John and Kristina hold their CERTIFIED - [Investment Philosophy](https://www.investdavenport.com/advisors/smythe-vetrovec-palangi-wealth-management/investment-philosophy/) - Personalized Wealth Management, Tailored to Your Goals At Davenport, we provide clients with diverse investment strategies guided by a disciplined approach to wealth management. Our team works closely with you to create a customized financial plan – one that we develop, implement, and monitor together. By carefully balancing responsible investments with risk, we design an - [Services](https://www.investdavenport.com/advisors/smythe-vetrovec-palangi-wealth-management/services/) - INVESTMENT SERVICES Individual Stocks & Bonds Mutual Funds & Unit Investment Trusts Exchange Traded & Closed-End Funds Davenport Asset Management — offering various professionally managed investment strategies Fixed and Variable Annuities Certificates of Deposits, Money Market & Cash Management Service FINANCIAL PLANNING SERVICES Net Worth & Asset Allocation Analysis Education Planning and 529 Plans Retirement - [James F. Diersen, CFP®](https://www.investdavenport.com/advisors/james-diersen/) - James Diersen, CFP® offers consultative investment management leaning on his 14 years of experience in the financial services industry and drawing on the extensive resources at Davenport. He takes the time to listen to each individual’s personal situation to craft a customized portfolio based on their goals while utilizing fundamental and quantitative analysis. True to - [Client Education](https://www.investdavenport.com/advisors/rush-lux-wealth-management/client-education/) - We believe informed clients make better decisions. This starts by getting to know you and taking the time to listen to your needs, goals, risk tolerance and time horizon. We prioritize open communication, helping to ensure clients are informed and involved in the decision-making process. We regularly partner with Davenport’s Asset Management, Client Services, and - [Financial Planning](https://www.investdavenport.com/advisors/rush-lux-wealth-management/financial-planning/) - Our services include retirement planning, estate planning, tax strategies, and risk management, to help clients feel more secure about their financial futures. Partnering with our clients to review the current landscape of their objectives is the foundation to helping clients achieve their desired goals. Through this partnership we can develop and implement strategies that guide - [Investment Management](https://www.investdavenport.com/advisors/rush-lux-wealth-management/investment-management/) - We develop tailored investment strategies designed to align with our clients’ risk and return profile. Our balanced approach allows our clients to achieve proper asset allocation* and liquidity needs, so that they can work toward achieving their desired goals but also peace of mind with their investments. Drawing on the extensive services within Davenport, our - [Valentine Ferrell](https://www.investdavenport.com/advisors/valentineferrell/) - We understand the desire to protect your family. We established the Valentine Ferrell team with the sole purpose of protecting and preserving the financial well-being of our clients and their families. We believe that serving our clients is a great privilege and your long-term success is our priority. We are devoted to building lasting relationships, - [Mizell Wealth Management Group](https://www.investdavenport.com/advisors/the-mizell-wealth-management-group/) - The Mizell Wealth Management Group was established to provide comprehensive wealth management services for individuals and their families, retirement planning and asset management services for business owners and corporations, and investment advisory services for foundations and endowments. Robert Mizell is registered with the Financial Industry Regulatory Authority (FINRA) to offer services to clients who reside - [Atchison & Bird Wealth Advisors](https://www.investdavenport.com/advisors/atchison-bird/) - We believe that the values and principles learned through competitive sports are integral to effective wealth management. With Jay’s background as a collegiate basketball player at Old Dominion University and Eric’s experience as a professional soccer player and varsity captain at the University of Virginia, we approach financial planning with a strong emphasis on teamwork, - [Investment Services](https://www.investdavenport.com/advisors/atchison-bird/investment-services/) - Professional Money ManagementWe provide comprehensive investment solutions tailored to your financial goals. This includes: Equity Opportunities and Portfolio Management: Actively managed portfolios focused on maximizing growth through equity investments. Bonds & Fixed Income Investments: Strategies designed to provide steady income and preserve capital through fixed income securities. Davenport Asset Management Strategies: Proven investment strategies developed - [Fixed Income](https://www.investdavenport.com/capital-markets/fixed-income/) - For more than 40 years, the professionals in our Fixed Income department have provided concierge level service to Davenport’s Financial Advisors through various market cycles. The team is comprised of retail and institutional sales, trading, and liaison specialists, averaging over 25 years of experience. Davenport Financial Advisors have full access to anyone in the Fixed - [Viewing Account Communications Online](https://www.investdavenport.com/viewing-account-communications-online/) - Return to Davenport Online Guide Home This tutorial will explain how you can view account communications on Davenport Online. 1. Use this link to navigate to Davenport Online. Once on the page, enter your user ID and password. 2. Click Communications on the navigation bar. 3. Select from the menu on the left side of the screen to view - [SIPC - ACCOUNT PROTECTION](https://www.investdavenport.com/client-disclosures/sipc-protection/) - All accounts carried by Davenport & Company are protected by the Securities Investor Protection Corporation (SIPC) up to $500,000 per eligible account, subject to a $250,000 limit on cash balances pending investment. Further information about SIPC, including the SIPC brochure, may be obtained by calling SIPC at (202) 371- 8300 or by visiting the SIPC - [Learning Center](https://www.investdavenport.com/advisors/brailsford/learning-center/) - Improving Your Retirement Plan Account's Long-term ResultsBeneficiary Designations: An Important Part of Estate PlanningAre Your Personal Finances on Solid GroundChecking Your Insurance Coverages - [Blue Ridge Group](https://www.investdavenport.com/advisors/blue-ridge-group/) - Building Wealth and Earning Trust The Blue Ridge Group offers a team approach to providing comprehensive wealth management services including financial, retirement, estate planning and asset management for individuals, business owners, corporations, foundations, trusts and endowments.We are financial problem solvers and know our clients’ investment interests and their needs. In an industry where the size of the - [Thomas R. McDonald, III](https://www.investdavenport.com/advisors/thomas-r-mcdonald-iii/) - As a Financial Advisor, my primary areas of expertise are financial planning and investment advice. My job is to help my clients develop a clear plan for their goals, minimize unnecessary risk, and make ongoing modifications as needed. In simplest terms, I help others prepare for expected and unexpected life events. Why hire me? With more - [Davenport Donor Advised Program (DDAP)](https://www.investdavenport.com/wealth-management/davenport-donor-advised-program/) - DDAP is a donor advised fund that offers increased flexibility for your charitable contributions and allows you to instill the idea of philanthropy in your family for generations to come. DDAP is a program of Renaissance Charitable Foundation Inc. (RCF).Contact your Financial Advisor to learn more about the Davenport Donor Advised Program. Donor Advised Fund - [Munford & King Wealth Management](https://www.investdavenport.com/advisors/munford-king-wealth-management/) - We are driven to make a difference in the lives of our clients, their families, and the communities we serve. With the complexities of today's financial world, we believe in ensuring there is more than one person tending to our client relationships. Our team includes dedicated, experienced, and credentialed specialists who take the stewardship of - [2025 Fixed Income Outlook](https://www.investdavenport.com/2025-fixed-income-outlook/) - Davenport Asset Management presents the Virtual Investor Summit Series 2025 Fixed Income Outlook January 2025 Watch this video as the Davenport Asset Management Fixed Income Team, Kevin Hopkins, Will Cleland, and Emily LaVay discuss how they are prepared to handle interest rate challenges in 2025. Click below to watch the recorded Zoom presentation or view the - [National Day of Mourning](https://www.investdavenport.com/national-day-of-mourning/) - On Thursday, January 9, the financial markets will observe a National Day of Mourning in honor of former President Jimmy Carter. In recognition of his service to our country, the stock market will be closed for the day. Davenport’s Limited Hours and Operations Despite the stock market closure, Davenport’s offices will be open from 8:45 - [Tri-River Investment Group](https://www.investdavenport.com/advisors/tri-river-investment-group/) - Building Wealth and Earning Trust The Tri-River Investment Group provides financial consulting and asset management solutions to individuals and their families and asset management services for business owners, corporations, foundations, trusts, and endowments. We are financial problem solvers and are passionate about addressing our clients’ investment interests and their individual needs. In an industry where - [Love Wealth Management Group](https://www.investdavenport.com/advisors/love-wealth-management-group/) - As an investment team, David Love and Ashton Love are committed to offering clients the highest level of professionalism and personal service. With over 40 years of combined industry experience, David and Ashton work together to offer personalized financial planning and investment advice. Once your financial goals and objectives, risk tolerance and time horizon are - [Social Media Disclaimer](https://www.investdavenport.com/disclosures/social-media-disclaimer/) - Social Media Disclaimer Davenport & Company LLC is not associated in any way with LinkedIn® Corp. Davenport is a separate, independent company which offers investment advisory and brokerage services. Davenport is an SEC-registered investment adviser and a member of FINRA•SIPC•NYSE. Registration does not imply a certain level of skill or training.Neither Davenport nor its employees are - [Managed Money](https://www.investdavenport.com/wealth-management/managed-money/) - Since our founding in 1863, Davenport has remained employee owned. As owners, we take pride in every aspect of our company, from our highly personal service to our trusted advice. Because of that personal connection, many of the clients who entrust us with their financial futures also grant us discretion to make investment decisions on - [Brokerage Services](https://www.investdavenport.com/wealth-management/brokerage-services/) - Our strength comes from the relationship that we build with each client. Since 1863, Davenport has helped clients invest in stocks and bonds. Back then, the securities of railroad companies were primarily traded. Today, we assist individuals and institutions in buying and selling a wide range of securities from derivatives to income-producing CDs. News and opinions - [Future-Ready: Succession Planning Essentials](https://www.investdavenport.com/future-ready-succession-planning-essentials/) - Davenport Asset Management presents the Virtual Investor Summit Series Future-Ready: Succession Planning Essentials October 2024 Watch this video of Davenport Asset Management hosting Katherine Whitney and Scott Warren, Co-founders and Directors of Warren Whitney, as they teach us how to mitigate risks and maintain leadership and organizational continuity through planned and unplanned transitions. Click below - [Posner Wealth Management](https://www.investdavenport.com/advisors/posner-wealth-management/) - Posner Wealth Management offers comprehensive investment planning, retirement plan analysis, and professional portfolio management solutions. Each of our clients will have access to Davenport Asset Management or other professional money managers and mutual funds for constructing portfolios and strategies to create reliable income. We begin each new client relationship by listening to you in order to determine - [Meghan Councill](https://www.investdavenport.com/advisors/meghan-councill/) - Meghan Councill provides investment services to individual investors and their families, business owners, nonprofits and foundations. Education is close to Meghan’s heart and helps her bridge gaps in understanding, making her clients feel comfortable with each investment decision. She is holistic in her approach with clients and utilizes the full service capabilities of Davenport and - [Milward-Prillaman Group](https://www.investdavenport.com/advisors/milward-prillaman/) - The Milward-Prillaman Group helps individuals and their families realize their dreams by creating and implementing custom wealth management strategies that focus on accumulating, protecting, and transferring wealth. Brought together by a belief in a team approach to financial consulting and investment management, Pete Milward, Grayson Prillaman, and Charlie Welfare established the Milward-Prillaman Group of Davenport & Company. - [Papa Wealth Management](https://www.investdavenport.com/advisors/papa-wealth-management/) - Our Mission is to provide sound investment and retirement planning advice with the highest level of personal service and integrity to help clients and their families achieve their lifetime investment and personal goals. Papa Wealth Management (PWM) is dedicated to helping aspirational families, business owners and individuals create wealth to facilitate the attainment of life - [Rappahannock Investment Group](https://www.investdavenport.com/advisors/rappahannock-investment-group/) - Building Wealth and Earning Trust We are a team of investment professionals with more than 65 years of combined investment industry experience. This matters to you because it makes our approach to wealth management uniquely personal, generationally capable and powerfully collaborative. The success of our practice comes down to building strong relationships and adding value - [Sessoms Wealth Management](https://www.investdavenport.com/advisors/sessoms-wealth-management/) - Sessoms Wealth Management helps clients achieve their financial goals with custom investment advice and outstanding personal service. He offers a wide range of financial planning services and investment solutions. By taking the time to understand what clients want to achieve with their assets, he offers highly personalized planning and investment advice. This approach allows him - [The Keddie Group](https://www.investdavenport.com/advisors/the-keddie-group/) - Guiding you to and through retirement. With over 50 years in the investment industry Regis II has served clients through many market swings and has proven to be a solution provider involved in the complete investment process for families and, in many cases, for successive generations of families. Regis III and Eden Coltrane are integral - [Wagner Wealth Management](https://www.investdavenport.com/advisors/wagner/) - "Well Done is Better than Well Said" – Benjamin Franklin Wagner Wealth Management is grounded by the principles of providing sound investment advice and exceptional service to clients. We share a personal relationship with successful individuals and families that stretches across generations, economic and market cycles. Our role is to offer guidance and oversight in helping you - [William Davis](https://www.investdavenport.com/advisors/will-davis/) - Working closely with clients, Will Davis helps them manage and transition wealth. He delivers a full range of investment planning strategies tailored to clients’ unique needs. Whether investing for retirement, education expenses or some other goal, he helps clients make informed decisions about their investment strategy. William Davis is registered with the Financial Industry Regulatory - [Ryan D. Shumate](https://www.investdavenport.com/advisors/ryan-shumate/) - Our team applies business and investment experience using a complete array of investment solutions for individuals, families, trusts, and institutions. Along with high-quality financial services, we develop meaningful generational relationships dedicated to each client’s goals through holistic financial planning, tailored investment advice and exceptional client service. Our team includes an experienced financial advisor and a - [Paul W. Ashworth](https://www.investdavenport.com/advisors/paul-ashworth/) - Paul Ashworth offers a valuable perspective to his clients with his strong executive management skills coupled with international business experience. He believes in a comprehensive approach to wealth management including an integrated process designed to help his clients accumulate, protect, and distribute wealth during their lifetime and through their legacies, using tax-intelligent solutions.* In the - [Investment Implications of the 2024 Presidential Election](https://www.investdavenport.com/investment-implications-of-the-2024-presidential-election/) - Davenport Asset Management presents the Virtual Investor Summit Series Investment Implications of the 2024 Presidential Election September 2024 Watch this video of Davenport Asset Management hosting Philip Orlando, Chief Equity Market Strategist of Federated Hermes, as he discusses the investment implications of the upcoming 2024 US presidential election. 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The financial planning process will help you focus on what you are trying to accomplish and allow - [Services](https://www.investdavenport.com/advisors/banister-beck-cobb/retirement-planning/) - FINANCIAL PLANNING SERVICES Net Worth & Asset Allocation AnalysisEducation Planning and 529 PlansRetirement Planning and Cash Flow AnalysisEmployee Stock Option AnalysisPlanning for Tax, Estate & Charitable Giving Needs* INVESTMENT SERVICES Individual Stocks & BondsMutual Funds & Unit Investment TrustsExchange Traded & Closed-End FundsDavenport Asset Management — offering various professionally managed investment strategiesFixed and Variable AnnuitiesCertificates of Deposits, - [Barksdale & Capshaw](https://www.investdavenport.com/advisors/barksdale-capshaw-wealth-management/) - As a team, Billy Barksdale and Bill Capshaw offer wealth management services for successful individuals, families, corporations, endowments and foundations. They have combined experience in the financial industry of over 45 years. They have weathered a variety of markets and have developed a highly diversified and specialized team to serve client’s needs. They understand risk - [Services](https://www.investdavenport.com/advisors/askew-foley-wealth-management-group/services/) - We consider an array of investment options and strategies depending on your individual needs. Some of the services we offer include: Davenport Asset Management strategies and other fee-based solutionsFixed Income ManagementTraditional BrokerageInsurance and AnnuitiesRetirement plans, retirement planning, IRA rollovers, distributions, lifetime incomePlanning for tax*, estate and charitable giving needsEducation planning, 529 College Savings Plans We - [Our Process](https://www.investdavenport.com/advisors/blankenship-keiger/our-process/) - Our priority is developing and maintaining your financial security. We accomplish this through sound investment guidance, consistent customer service, and dedication to our process which includes the following: Developing a comprehensive analysis of your personal and financial situation through ongoing discussions of your goals, risk tolerance, and time horizon. Creating a personalized plan together to - [Our Philosophy](https://www.investdavenport.com/advisors/blankenship-keiger/our-philosophy/) - Our team philosophy includes a bottom-up, fundamental analysis which is used to identify investment opportunities. Your account will be invested primarily in the securities of companies that show strong growth potential, have strong and focused management, solid balance sheets, and a history of proven results. We will frequently – though not exclusively – utilize Davenport’s - [Services](https://www.investdavenport.com/advisors/blankenship-keiger/services/) - FINANCIAL PLANNING SERVICES Net Worth & Asset Allocation Analysis Education Planning and 529 Plans Retirement Planning and Cash Flow Analysis Employee Stock Option Analysis Planning for Tax, Estate & Charitable Giving Needs INVESTMENT SERVICES Individual Stocks & Bonds Mutual Funds & Unit Investment Trusts Exchange Traded & Closed-End Funds Davenport Asset Management — offering various - [Financial Planning](https://www.investdavenport.com/advisors/blankenship-keiger/financial-planning/) - WHY YOU SHOULD HAVE A FINANCIAL PLAN While you may have made prudent financial decisions over the years, many things may have changed over time, such as tax laws, your income, your financial goals, or your family situation. The financial planning process will help you focus on what you are trying to accomplish and allow - [Advisors](https://www.investdavenport.com/advisors/) - [Our Process](https://www.investdavenport.com/advisors/afagroup/our-process/) - 1. Understand Financial Goals & Circumstances: Listen and learn about your circumstances Identify your goals Set a time horizon Determine liquidity needs 2. Create a Financial Plan: Develop a strategy to improve the probability of reaching your financial goals Work with your other advisors, lawyers and accountants, as needed Address gaps in insurance, lending and - [Our Philosophy](https://www.investdavenport.com/advisors/afagroup/anderson-our-philosophy/) - We believe that the goal of every investor can be captured by three primary objectives: Spending, Income & Growth, and Legacy. That is why we divide assets across some combination of those objectives in accordance with each individual’s or institution’s needs. SpendingTime Horizon: 0-5 yearsSample Needs: I need ready access to a certain amount of money for expenditures. I - [Investment Philosophy](https://www.investdavenport.com/advisors/allburn/investment-philosophy/) - Allburn Financial Consulting's investment philosophy is the bedrock for creating long lasting relationships with our clients. Effective planning requires a multistep, ongoing process conducted in partnership with you. Our role is to provide stewardship and oversight in helping you pursue your financial goals.Our process includes: Carefully listening to you regarding goals, risk tolerance, and time - [Service Commitment](https://www.investdavenport.com/advisors/allburn/service-commitment/) - OUR SERVICE COMMITMENT We pride ourselves on our personal service to our clients.Through an open line of communication with our clients we build long-term relationships. Regular in-person reviews are not just a means of providing the latest performance report for your portfolio; they provide a forum to discuss anything that might be of concern or - [Our Process](https://www.investdavenport.com/advisors/askew-foley-wealth-management-group/our-process/) - The role of the Askew Foley Wealth Management Group is to provide stewardship and oversight as you pursue your financial and life goals. Our process includes: Listening carefully to you regarding goals, risk tolerance, and time horizon.Creating an investment and asset allocation strategy as the basis for advice, taking into consideration your financial goals.Providing a - [Investment Professionals](https://www.investdavenport.com/davenport-asset-management/contact-us/investment-professionals/) - For Investment Professionals interested in Davenport Asset Management products please contact: Patrick SlackDirector, Institutional Relationships804-697-2926pslack@investdavenport.com - [Media Inquiries](https://www.investdavenport.com/davenport-asset-management/contact-us/media-inquiries/) - Geoff GlissonMarketing Manager804-697-2952gglisson@investdavenport.com - [Individual Investors](https://www.investdavenport.com/davenport-asset-management/contact-us/individual-investors/) - If you would like to speak with a Financial Advisor: Davenport & Co. LLCToll-Free: 800-846-6666 If you would like to invest directly in one of Davenport's funds: Ultimus Fund Solutions, LLCToll-Free: 800-281-3217 - [Contact Us](https://www.investdavenport.com/davenport-asset-management/contact-us/) - Toll Free: 888-285-1863DAMinfo@investdavenport.com Contact Information for:Investment ProfessionalsIndividual InvestorsMedia Inquiries By Mail:One James Center901 East Cary Street, Suite 1100Richmond, Virginia 23219 Office Hours:Monday - Thursday: 8:45 am - 5 pmFriday: 8:45 am - 4:15 pm - [Core Leaders Portfolio](https://www.investdavenport.com/davenport-asset-management/strategies/core-portfolio/) - Davenport Core Leaders Portfolio 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 capitalizations in excess of $25 billion Industry Leadership: Wide competitive moat with commanding and/or growing market share Above Average Earnings Growth: Favorable 3-5 year EPS1 trajectory vs. - [Equity Opportunities Portfolio](https://www.investdavenport.com/davenport-asset-management/strategies/equity-opportunities-portfolio/) - 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 companiesDifferentiated Perspective: Rigorous research helps to yield superior risk/return opportunities Portfolio Construction The - [Value & Income Portfolio](https://www.investdavenport.com/davenport-asset-management/strategies/value-income-portfolio/) - 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 rising stream of 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 - [Fixed Income Strategies](https://www.investdavenport.com/davenport-asset-management/strategies/fixed-income-strategies/) - Fixed Income Portfolios are managed to generate competitive returns by investing in investment grade securities within identified risk ranges. Our dynamic process takes advantage of opportunities created by secular and cyclical economic events.Client portfolios are diversified by maturity and sector weightings based on economic trends and sector valuations, with the goal of controlling credit and - [FundAdvisor](https://www.investdavenport.com/davenport-asset-management/strategies/fundadvisor/) - We created Davenport's FundAdvisor program to help our clients intelligently invest in this increasingly complex mutual fund marketplace. We offer six globally diversified portfolios of stock and bond funds to help our clients meet their long term objectives, which can include growth, income, and protection. The benefits of FundAdvisor include diversification among multiple asset classes, - [Investment Managers](https://www.investdavenport.com/davenport-asset-management/our-team/investment-managers/) - [Service](https://www.investdavenport.com/davenport-asset-management/service/) - [Success Over Time](https://www.investdavenport.com/davenport-asset-management/success-over-time/) - [Ownership Makes All the Difference](https://www.investdavenport.com/davenport-asset-management/employee-owned/) - Davenport & Company has always been 100% employee owned since our founding in 1863. Our commitment to independence allows us to remain solely focused on meeting the needs of our clients and putting their interests first. Davenport Asset Management was started in 1984, so we could offer our clients the same winning investment strategies already - [Conviction](https://www.investdavenport.com/davenport-asset-management/conviction/) - [Navigating Negativity](https://www.investdavenport.com/davenport-asset-management/navigating-negativity/) - [Advisory Exemption Disclosures](https://www.investdavenport.com/advisory-exemption-disclosures/) - Federal Register (PTE) 86-128Click Here if you wish to terminate service. Pershing LLC is the clearing firm for our securities business. We do not recommend Broker/Dealers other than Pershing LLC for client transactions for our managed accounts. We do permit you to direct brokerage to another Broker/Dealer of your choice. Directing brokerage to a Broker/Dealer - [Online Prospectus Listing](https://www.investdavenport.com/prospectus/) - Rules 172 and 173 promulgated by the Securities and Exchange Commission, pursuant to the Securities Act of 1933 as amended, set forth certain circumstances that exempt broker dealers from delivering hard copies of prospectuses. This exemption provides that the delivery of prospectuses to purchasers of securities in certain registered public offerings now may be fulfilled - [Selected Client Snapshots](https://www.investdavenport.com/selected-client-snapshots/) - [Selected Utility Clients](https://www.investdavenport.com/selected-utility-clients/) - ['AAA' Issuers](https://www.investdavenport.com/aaa-issuers-served/) - [Selected Virginia Clients](https://www.investdavenport.com/selected-virginia-clients/) - [Selected North Carolina Clients](https://www.investdavenport.com/selected-north-carolina-clients/) - [Selected Maryland Clients](https://www.investdavenport.com/selected-maryland-clients/) - [Selected Georgia Clients](https://www.investdavenport.com/selected-georgia-clients/) - [Davenport Online Support](https://www.investdavenport.com/davenport-online-support/) - Contact Davenport Online Support:Email: support@investdavenport.comPhone: 804-697-2997 Toll Free: 1-888-742-1863 Davenport Online Support is available M-F, 9 a.m. – 5 p.m. ET - [Margin Disclosure](https://www.investdavenport.com/client-disclosures/margin-disclosure/) - Securities purchased on margin are used by Davenport & Company LLC (Davenport) as collateral for the loan to you. If the securities in your account decline in value, there is a corresponding decline in the value of the collateral supporting your loan and, as a result, Davenport can take action, such as issue a margin - [LEGAL INFORMATION](https://www.investdavenport.com/client-disclosures/website-disclaimer/) - Please read the terms and conditions carefully. By accessing and using this website, you agree to be bound by the terms and conditions below. If you do not agree to the terms and conditions below, do not access or use this website. Disclaimer This site has been published in the United States for residents of - [Contact Us](https://www.investdavenport.com/contact/) - Click here to locate a Davenport & Company Office If you are inquiring about a Sponsorship or Volunteer effort, please visit our Davenport Shares page and review the guidelines for submitting a request. E-mail: info@investdavenport.comDo you need to send an encrypted email? Click Here Toll-Free: 1-800-846-6666Headquarters:One James Center901 East Cary StreetSuite 1100Richmond, VA 23219P.O. Box 85678Richmond, VA 23285 - [Market Perspectives:](https://www.investdavenport.com/news/market-perspectives/) - Thoughts on "Brexit" June 2016 In a surprising event, the United Kingdom voted to leave the EU. This is an unusual and unprecedented event, so commentary is admittedly a bit difficult. Economists, politicians, strategists and corporate decision makers are scrambling to get their arms around the situation. But, here are the facts: The final tally - [Capital Markets](https://www.investdavenport.com/capital-markets/) - Our investment bankers have a distinct ability to listen and, more importantly, a commitment to understand. We develop and execute a broad range of strategies and transactions for companies, institutions and municipalities—drawing on our talented teams of professionals to provide innovative solutions to help our clients achieve their strategic goals. Davenport’s Public Finance Department manages municipal debt offerings, participates in - [Corporate Finance](https://www.investdavenport.com/capital-markets/corporate-finance/) - Please direct any inquiries regarding Davenport's corporate finance services to: Robert Mizell, CFAExecutive Vice President(804) 780-2089bmizell@investdavenport.com - [The Benefits of Planning](https://www.investdavenport.com/wealth-management/financial-services/the-benefits-of-planning/) - Contact your Davenport Financial Advisor for help creating a financial plan with MoneyGuidePro. Click here for a brochure about MoneyGuidePro®. - [Wealth Management](https://www.investdavenport.com/wealth-management/) - Thousands of individuals and institutions have relied on us to help them steward their wealth with wisdom and confidence. Establishing your goals is one thing, but managing your wealth to help you achieve those goals is something entirely different. Wealth management requires expertise and discipline that is most effectively honed with experience. From investment needs such - [Equity Research Analysts](https://www.investdavenport.com/wealth-management/research/analysts/) - Evan J. Gilbert, CFAEvan covers the Financials, REIT, Utilities sectors as well as the Aerospace and Defense industry. He joined Davenport’s Research Department in 2017 after earning a B.A. in Economics and Business from the Virginia Military Institute, with concentrations in Financial and Global Management. Ann H. GurkinAnn primarily covers companies in the packaged food, - [Manager Research Team](https://www.investdavenport.com/wealth-management/managed-money/manager-research-team/) - Our Manager Research team performs portfolio analysis of client accounts, asset allocation recommendations, and investment research. The asset allocation methodology is centered on a common sense approach to build well-diversified portfolios and prevent the temptation to chase the best-performing asset classes. Our research depends on understanding the long-term nature of each asset class as well - [Find an Advisor](https://www.investdavenport.com/find-an-advisor/) - [Webex Meeting Tutorials](https://www.investdavenport.com/webex-meeting-tutorials/) - I need help with: How to join a Webex meetingLearn how to join your first Webex meeting Managing my audio and video settingsLearn how to select your audio and video before you join a meeting I’ve downloaded the Webex Desktop App, how do I use it to join a meeting? How do I join a - [Zoom Meeting Tutorials](https://www.investdavenport.com/zoom-meeting-tutorials/) - I need help with: How to join a Zoom meetingLearn how to join your first Zoom meeting Managing my audio and video settingsLearn how to select your audio and video before you join a meeting How do I join a Zoom meeting by phone (dial-in) only? Click here for instructions on how to join by - [Thriving Nonprofit Boards](https://www.investdavenport.com/investor-summit-thriving-nonprofit-boards/) - Davenport Asset Management presents the Virtual Investor Summit Series Thriving Nonprofit Boards January 21, 2021 As a part of Davenport Asset Management’s Virtual Investor Summit Series, Katherine Whitney of Warren Whitney and David Charlton, Ed.D of the Church Schools in the Diocese of Virginia recently spoke over Zoom to address the question “How do you - [Thoughts as Markets March Higher](https://www.investdavenport.com/thoughts-as-markets-march-higher/) - Thoughts as Markets March Higher February 16, 2021 GameStop, Reddit rebels, short squeezes, SPACs, Bitcoin, Tesla doubling since September, the Russell 2000® Index up about 50% in just over three months… there’s certainly no shortage of action in the market. We like seeing new highs and a plethora of exciting new investment themes. There may - [Then and Now](https://www.investdavenport.com/then-and-now/) - Then & Now May 3, 2022 The current environment illustrates how quickly market conditions can change. In many ways, present conditions are the polar opposite of what we witnessed for much of the last two years. Not long ago, the Nasdaq 100® Index, which is home to many former high flyers, was plowing into new - [Three Reasons to Hold Bonds](https://www.investdavenport.com/three-reasons-to-hold-bonds/) - Fixed Income Basics: Three Reasons to Hold Bonds in a Portfolio An investment portfolio is like a symphony. The right instruments making the right sounds in the right order can produce a beautiful piece of music with an effect greater than the sum of its parts. In a similar fashion, most successful portfolios are allocated - [What Makes Us Different](https://www.investdavenport.com/what-makes-us-different/) - Davenport Asset Management What Makes Us Different Davenport Asset Management is a boutique money manager founded in 1984 with over $10 billion in assets under management. Our competitive advantages come from our history, partnership, independence, experience, and process refined over the 160-year history of our firm. Our History is Unique Davenport & Company, our parent - [The Year in Review: An Update from John Ackerly](https://www.investdavenport.com/the-year-in-review-an-update-from-john-ackerly/) - The Year in Review: An Update from John Ackerly January 2021 Great news! 2020 is over and Davenport Asset Management has exciting plans for 2021! No doubt 2020 was a rough year and one that will be talked about for a long time. A co-worker summed up the year by saying if she had known - [State of Philanthropy Part One](https://www.investdavenport.com/state-of-philanthropy-part-one/) - Davenport Asset Management presents the Virtual Investor Summit Series The Current State of Philanthropy - Part One | Part Two | Part Three Charitable Giving in the US & Donor Motivation May 2021 “The Current State of Philanthropy” is a three part series by guest speaker Michele A. W. McKinnon of McGuireWoods. In part one - [State of Philanthropy Part Two](https://www.investdavenport.com/state-of-philanthropy-part-two/) - Davenport Asset Management presents the Virtual Investor Summit Series The Current State of Philanthropy - Part One | Part Two | Part Three Recent Tax Law Changes Affecting Charitable Giving May 2021 “The Current State of Philanthropy” is a three part series by guest speaker Michele A. W. McKinnon of McGuireWoods. In part two of - [State of Philanthropy Part Three](https://www.investdavenport.com/state-of-philanthropy-part-three/) - Davenport Asset Management presents the Virtual Investor Summit Series The Current State of Philanthropy – Part One | Part Two | Part Three Planned Giving Techniques May 2021 “The Current State of Philanthropy” is a three part series by guest speaker Michele A. W. McKinnon of McGuireWoods. In part three of the series, “Planned Giving Techniques”, Michele discusses some attractive strategies - [Public Finance in West Virginia](https://www.investdavenport.com/public-finance/client-snapshots/public-finance-in-west-virginia/) - [Public Finance in Ohio](https://www.investdavenport.com/public-finance/client-snapshots/public-finance-in-ohio/) - [Public Finance in South Carolina](https://www.investdavenport.com/public-finance/client-snapshots/public-finance-in-south-carolina/) - [Public Finance in Washington DC](https://www.investdavenport.com/public-finance/client-snapshots/public-finance-in-washington-dc/) - [Contact Us](https://www.investdavenport.com/public-finance/contact-us/) - Talk to our Managers David RoseSenior Vice President and Manager of Public FinanceOffice: 804-697-2905 Ted ColeSenior Vice President and Manager of Public FinanceOffice: 804-697-2907 Or, Write Us a Message - [Public Relations PRimer: How to Get Your News Out](https://www.investdavenport.com/public-relations-primer-how-to-get-your-news-out/) - Davenport Asset Management presents the Virtual Investor Summit Series Public Relations PRimer: How to Get Your News Out March 2022 Every successful business will eventually have to deal with the press. Watch as veteran journalists Andy Poarch and Greg Gilligan teach us the ropes with a presentation titled “Public Relations Primer: How to Get Your - [Financial Advisory Services](https://www.investdavenport.com/public-finance/services/) - [Strategic Financial Planning](https://www.investdavenport.com/public-finance/services/strategic-financial-planning/) - Using customized financial models, thorough research of our client’s operational and capital needs, perspective gained from decades of interaction with the credit rating agencies, direct experience with public markets and direct lending through banks, we help our clients develop the road map for multi-year strategic financial planning through transaction execution and post-closing. We focus on - [Transaction Services](https://www.investdavenport.com/public-finance/services/transaction-services/) - Our work begins with assisting in the assembly of the key finance team participants. With input from the finance team, Davenport develops an overall schedule of key finance activities. Depending on the type and approach of the desired financing, we pro-actively assist with obtaining and/or reaffirming Credit Ratings. Finally, as a part of the financing - [Investment Management](https://www.investdavenport.com/public-finance/services/investment-management/) - Davenport’s program is an investment partnership where our clients maintain in-house control of the investing process. We provide a comprehensive investment plan and professional oversight. Safety, liquidity and yield are the three fundamental objectives of the Program. Our Program represents the intersection of hiring an outside manager and managing your own funds. As a fiduciary, - [Rating Agency Interaction](https://www.investdavenport.com/public-finance/services/rating-agency-interaction/) - Credit ratings are arguably the single most important, independent third-party assessment of a local government’s credit worthiness. Our clients understand this aspect, as do we. Davenport approaches our client’s credit ratings and Rating Agency Interaction with the same seriousness and attention to detail, as do our clients. Credit Presentation Development We start the process with - [Economic Development](https://www.investdavenport.com/public-finance/services/economic-development/) - Local governments are often presented with projects with requests for incentives/concessions from the public sector that may utilize grants, rebates, special tax districts, or community development authorities. Davenport’s experience goes back to Virginia’s first community development authority for the Dulles Town Center in Loudoun County. We analyze economic development opportunities for our clients from a - [State Credits and Financing Programs](https://www.investdavenport.com/public-finance/services/state-credits-and-financing-programs/) - We have brought our analytical and technical capabilities to state-level issuers in the development of credit rating strategies, debt capacity models, debt portfolio models and creative financing implementation for both new money and refunding bonds. In addition, we have enhanced financing programs by maximizing credit rating results, structuring flexibility and improved public market disclosure. Our - [Strategic Consulting Services](https://www.investdavenport.com/public-finance/services/strategic-consulting-services/) - Comprehensive Financial Reviews Our deliverables are designed to combine an analysis of historic financial results with projections of key financial ratios to provide a fresh perspective on the overall financial health of our clients. We incorporate key financial ratios and projections as well as an analysis of debt capacity and debt affordability that help our - [Public Finance in North Carolina](https://www.investdavenport.com/public-finance/client-snapshots/public-finance-in-north-carolina/) - [Public Finance in Georgia](https://www.investdavenport.com/public-finance/client-snapshots/public-finance-in-georgia/) - [Public Finance in Maryland](https://www.investdavenport.com/public-finance/client-snapshots/public-finance-in-maryland/) - [Public Finance in Florida](https://www.investdavenport.com/public-finance/client-snapshots/public-finance-in-florida/) - [We are Davenport Public Finance](https://www.investdavenport.com/public-finance/who-we-are/) - Experience and Rankings Since 1998, we have served as financial advisors on over 3,400+ transactions totaling in excess of $83.58+ billion. - [Our Philosophy](https://www.investdavenport.com/public-finance/our-philosophy/) - [Navigating an Unsettled Yield Curve](https://www.investdavenport.com/navigating-an-unsettled-yield-curve/) - Davenport Asset Management presents the Virtual Investor Summit Series Navigating an Unsettled Yield Curve: 2022-23 Review and Outlook December 2022 The treasury yield curve has not seen this level of volatility in several decades creating uncharted territory for many bond investors. Fortunately, the Davenport Asset Management Fixed Income team has spent years navigating challenging rate - [Protecting Elders](https://www.investdavenport.com/protecting-elders/) - [Media Replay](https://www.investdavenport.com/media-replay/) - Davenport Asset Management presents the Virtual Investor Summit Series Media Replay with John Diehl of Hartford Funds February 17, 2021 As a part of Davenport Asset Management’s Virtual Investor Summit Series, John Diehl of Hartford Funds recently spoke over Zoom to discuss “How to Help Clients Make Rational Decisions When it Feels Like the World - [July 2021 Market Update](https://www.investdavenport.com/july-2021-market-update/) - July 2021 Market Update Watch as George Smith, Chairman of the Investment Policy Committee, walks us through some interesting charts as he gives a mid-year market update. Schedule a Brief Call to Learn More: Patrick SlackDirector, Institutional RelationshipsDavenport Asset Management(804) 697-2926pslack@investdavenport.com - [January 2022 Market Update](https://www.investdavenport.com/january-2022-market-update/) - January 2022 Market Update Watch as George Smith, Chairman of Davenport Asset Management's Investment Policy Committee, touches on major themes from a banner year for equities in 2021, and what may be in store for 2022. - [Investing in Your Organization's Success](https://www.investdavenport.com/investing-in-your-organizations-success/) - Davenport Asset Management presents the Virtual Investor Summit Series Investing in Your Organization's Success: Strategic Planning for Sustainability February 2022 As a part of Davenport Asset Management’s Virtual Investor Summit Series, Scott Andrews-Weckerly and Beth Vann-Turnbull recently spoke over Zoom to discuss “Investing in Your Organization’s Success: Strategic Planning for Sustainability”. Click below to watch - [Markets and the Situation in Ukraine](https://www.investdavenport.com/markets-and-the-situation-in-ukraine/) - Markets and the Situation in Ukraine February 24, 2022 As we write this, markets have firmly entered correction territory with the S&P 500® Index down roughly 13%, NASDAQ® down nearly 20% and the Russell 2000® Index down about 15% year to date. Many stocks are down much more than the broader indices would suggest. Markets - [Mar 2022 Fixed Income Update](https://www.investdavenport.com/mar-2022-fixed-income-update/) - Fixed Income Viewpoints Russia, Volatility and Rate Hikes March 2, 2022 To say February was a volatile month may be the understatement of the year. With ten months remaining, uncertainty appears a likely constant for 2022, midterm elections aside. Russia’s attack on Ukraine has had major global implications. Initial sanctions proved ineffective but global coordination - [managing risk](https://www.investdavenport.com/managing-risk/) - How We Manage Risk For more information, contact your Davenport Financial Advisor or call 800-846-6666. Securities and Advisory Services offered through Davenport & Company LLC Member: NYSE | FINRA | SIPCInvestors 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 - [Intuit Case Study](https://www.investdavenport.com/intuit-case-study/) - Intuit - A DEOPX Case Study In the Davenport Equity Opportunities Fund (DEOPX), we rely on our deep research process to uncover quality businesses with strong balance sheets, run by capable management teams that can compound shareholder capital at high rates of return. Once a business is identified, we employ a strict valuation discipline to - [If DEOPX Were a Stock](https://www.investdavenport.com/if-deopx-were-a-stock/) - If DEOPX Were a Stock, We Would Be Buyers November 2022 Following a solid multi-year stretch in terms of both absolute and relative performance, the Davenport Equity Opportunities Fund (DEOPX) has endured a tough 2022. In many cases, the stocks that are to blame this year were giant contributors to performance in prior years. The - [International Equities are Down, but are They Out?](https://www.investdavenport.com/international-equities-are-down-but-are-they-out/) - Davenport Asset Management presents the Virtual Investor Summit Series International Equities are Down, but are They Out? November 2022 The old saying, “When the US sneezes, the world catches a cold.” is on the minds of many investors today as the current global environment has left many in doubt about what the future holds. Watch - [Helpful Information for Updating Automatic Deposits and Payments](https://www.investdavenport.com/hints-tips-for-updating-automatic-deposits-and-payments/) - In May 2021, Corestone®, an upgraded money management solution, replaced the Davenport Source product. The update to Corestone necessitated new debit cards and/or new checks to be issued. New checks and/or debit cards were sent the week of May 3. If you previously used Davenport Source debit cards or checks to process electronic payments and/or - [Highlighting Small and Mid-Cap](https://www.investdavenport.com/highlighting-small-and-mid-cap/) - Highlighting Small and Mid-Cap August 2021 We wanted to take a moment to highlight the recent performance of both our Davenport Small Cap Focus Fund (DSCPX) and Davenport Equity Opportunities Fund (DEOPX). While long-term performance certainly matters more than one year, it’s still worth noting that both were lagging their benchmarks for much of 2021 - [ESG](https://www.investdavenport.com/esg/) - ESG and the Davenport Asset Management Research Process September 2021 Executive Summary ESG investing has grown in popularity and influence over the last decade, having reached a size and level of mind share that is impossible to ignore. We have done extensive research in recent years in an attempt to understand the merits of ESG - [Don't Assume the Outcome](https://www.investdavenport.com/dont-assume-the-outcome/) - Davenport Asset Management presents the Virtual Investor Summit Series Don't Assume the Outcome February 2024 Join us for an estate planning session featuring speakers from Virginia Estate & Trust Law, PLC where they will detail an estate plan’s most important pieces to avoid missteps and missed assumptions that can alter your legacy. Click below to - [Advisor Resource Request Form](https://www.investdavenport.com/advisor-resource-request-form/) - [Davenport & Company Current COVID-19 Guidance](https://www.investdavenport.com/davenport-company-response-to-covid-19-outbreak/) - We appreciate your patience and understanding as we have navigated the COVID pandemic. We have been through a lot together and we are pleased to welcome you back to our offices. We remain committed to the protection and safety of our clients, visitors and associates. Face coverings are optional for everyone, however we recommend that - [A Technology Experience to Move Your Business Forward](https://www.investdavenport.com/technology-platforms/) - A Technology Experience to Move Your Business Forward For Davenport Advisors, NetX360® is the premier platform for advisor growth. NetX360 is a single point of access for Davenport Advisors to manage their business and support their clients' needs by focusing on data and analytics to re-imagine the experience and provide state-of-the-art technology. The benefits of - [Account Statements](https://www.investdavenport.com/account-statements/) - As a reminder, beginning May 6 your assets were moved from the old Davenport Online platform to your Davenport account on the Pershing platform and you received new account number(s). For the month of June, you may receive two statements for your Davenport account(s) – one for your new account number and one for your - [Core Leaders Q and A](https://www.investdavenport.com/core-q-and-a/) - A Core Leaders Portfolio Q & A November 2022 Davenport Asset Management’s Core Leaders Portfolio, launched in 1984, was our first managed money strategy. Modeled after our very own profit sharing plan, the portfolio was built on the notion of investing alongside our clients. Core invests in high-quality large cap companies that can deliver competitive - [2021 Ackerly Letter](https://www.investdavenport.com/2021-ackerly-letter/) - A Department Update from John Ackerly January 2022 Season's Greetings from Davenport Asset ManagementWe hope you and your family had a Happy Holiday! Like a child on Christmas morning brimming with excitement to see what Santa brought, we want to share some highlights of 2021 and our plans for 2022. Wow. Who Could Have Predicted - [2023 Message to Clients from Lee Chapman, President & CEO](https://www.investdavenport.com/2023-message-to-clients/) ## Financial Advisors - [Elizabeth Boggs](https://www.investdavenport.com/advisorbio/elizabeth-boggs/) - Elizabeth Boggs joined McCray, Davis & May Wealth Advisors in August 2025 as their Client Service Associate. Prior to joining Davenport, she spent seven years working in logistics at Winc Wines and Amiri. She graduated from The Fashion Institute of Design & Merchandising with a bachelor’s in business administration in 2013. In her role with - [Weber Harris, CFP®](https://www.investdavenport.com/advisorbio/weber-harris-cfp/) - Weber started at Davenport in 2022 with the firm’s Financial Services department as an Associate Financial Planning. In this role he assisted financial advisors with helping establish custom financial plans for their clients. In 2026 he joined Davidson Wealth Management as an Associate Financial Advisor where he focuses on cultivating client relationships, generating comprehensive financial - [Harrison Geho Jr.](https://www.investdavenport.com/advisorbio/harrison-geho-jr/) - Harrison joined Davenport & Company in 2025. Prior to joining Davenport, he worked as a Consultant at Oracle for seven years where he worked with CFOs to customize and implement cloud based accounting and reporting tool. As a Financial Advisor Trainee with Ballowe Geho Gottwald Roddey, he specializes in understanding each client’s unique goals and - [Raymond Gay, CFP®, AIF®, CPFA®](https://www.investdavenport.com/advisorbio/raymond-gay-cfp-aif-cpfa-2/) - Ray joined the Staunton and Harrisonburg offices of Davenport in September 2021 and has more than 15 years of finance industry experience. Prior to joining the firm, Ray worked at Fiduciary Wealth Management for over two years and was a Vice President of Investment Analysis & Education at Rogers Financial for 10 years. Working closely - [Will Sowers, CFP®](https://www.investdavenport.com/advisorbio/will-sowers/) - Will joined Davenport in January 2025. Prior to joining the firm, he was a Financial Advisor at Truist Investments since 2018. Before joining Truist, Will spent four years as a financial analyst with CSX, where he provided analytical support for corporate budgeting, capital allocations, corporate strategy, financial planning and analysis, and investor relations, while regularly - [Don Benner](https://www.investdavenport.com/advisorbio/don-benner/) - Don moved his investment practice to Davenport in October 2024 after more than 22 years at Truist (formerly BB&T, Scott & Stringfellow). As a financial advisor, Don offers clients personal advice in financial and retirement planning and wealth management services. Don earned a B.S. degree in Animal Science from Virginia Tech and a M.S. degree - [Reynolds G. "Gil" Lynch III](https://www.investdavenport.com/advisorbio/gil-lynch/) - With more than 30 years of experience, Gil offers comprehensive asset management for individuals and businesses. Prior to joining Davenport in 2015, Gil worked as a Senior Vice President for BB&T Scott & Stringfellow. He is Series 7, 63, 65, and 66 registered.Gil offers comprehensive investment planning, retirement plan analysis, and professional portfolio management solutions. - [Wright Ramsey, CFP®](https://www.investdavenport.com/advisorbio/wright-ramsey/) - Wright started his career at Davenport in 2008 and has more than 22 years of experience in the financial industry. Prior to joining the Gallihugh Tarrant team, he was a Portfolio and Relationship Manager in the Davenport Asset Management department. In this role, he demonstrated exceptional skill in portfolio construction and strategy, risk management, and - [Kayla Woodard](https://www.investdavenport.com/advisorbio/kayla-woodard/) - Kayla joined Davenport in 2023 as a Client Service Associate. In 2025, she transitioned to the role of a Financial Advisor. She is Series 7 and 66 registered with FINRA, and she is licensed to offer life and health care insurance. Kayla began her career in the finance industry in 2019, working part-time while in - [Brett V. “Cannon” Watson](https://www.investdavenport.com/advisorbio/cannon-watson/) - Cannon joined Davenport in 1992 and focuses on managing wealth for individuals, businesses, and non-profits. He is Series 7, 63, 65 registered and is licensed to sell long-term care, life, and health insurance. Cannon graduated with a BA in international studies from the University of North Carolina at Chapel Hill. He regularly speaks at civic clubs - [Lindsay St. Peter](https://www.investdavenport.com/advisorbio/lindsay-st-peter/) - Lindsay joined Davenport in May 2018. She works closely with her partner Robin Kahl, a Managing Director, who has been at Davenport for more than 28 years. Prior to joining the firm, Lindsay served in several roles at a local bank in the finance department. Lindsay earned a BA in Finance from Liberty University. She - [Lauren Marrs](https://www.investdavenport.com/advisorbio/lauren-marrs/) - Lauren joined Davenport as a Client Service Associate for The King Wealth management Group in March 2026. With more than 8 years of experience in the financial services industry, she excels at building client relationships, maintaining strong attention to detail, and delivering a seamless, high‑quality client experience. She holds a B.A. in Psychology from Thomas - [Jackson Taylor](https://www.investdavenport.com/advisorbio/jackson-taylor/) - Growing up in an investment advisor household, Jackson has always been passionate about stocks. At age 13, he saved enough allowance to buy his first shares of AAPL after visiting the Apple store and seeing the potential behind the iPhone. From this experience and going forward, he knew he wanted to pursue a career in - [Lewis J. Georges](https://www.investdavenport.com/advisorbio/lew-georges/) - Lew began his investment career in 1994 as a Financial Advisor with Wheat, First Securities, Inc. He served on the firm’s Leadership Council and was the recipient of the Wheat First Outstanding Performance Award in 1995. Lew moved his successful financial practice to the Norfolk office of Davenport & Company in 1998. Prior to entering - [James P. “Pat” Rennie](https://www.investdavenport.com/advisorbio/pat-rennie/) - After graduating from University of Virginia in 1973, Pat worked for a local CPA firm in Charlottesville for two years. His interest in accounting and finances led him to join Wheat, First Securities in 1975, where he entered the firm’s Financial Advisor Professional Development Program. Over the next 16 years, Pat was promoted several times, - [Tyler Clark, CFP®](https://www.investdavenport.com/advisorbio/tyler-clark-cfp/) - Tyler joined Davenport in 2022, bringing with him 15 years of experience in the financial services industry. He was a Senior Financial Planning Associate in the firm’s Financial Services department for four years before joining the BGGR group in January 2026. With a deep understanding of the financial planning process, Tyler offers clients comprehensive and - [Cameron B. Shah](https://www.investdavenport.com/advisorbio/cameron-b-shah/) - Cameron joined Davenport in May 2022. Prior to joining the firm, he worked for three years as a Financial Advisor at Edward Jones and for one year as an engineer at GE Healthcare. Cameron specializes in helping families organize, protect and grow their wealth and enjoys helping families with special needs. A graduate of James - [Constance Neilsen](https://www.investdavenport.com/advisorbio/constance-neilsen/) - Constance joined Davenport in 1999. She supports advisors in the Farmville branch by handling client interactions, account maintenance and administrative tasks. She graduated from the University of Maryland with a BA in Behavioral & Social Services. She holds her Series 7 and 66 registrations with FINRA. Active in the community, Constance is a board member - [Bradley L. Watson](https://www.investdavenport.com/advisorbio/brad-watson/) - Brad has been a Financial Advisor at Davenport for more than 30 years. Continuing a proud family legacy, he serves as Branch Manager of the Farmville office—originally founded by his father, Hunter Watson, in 1990.Additionally, he currently serves on Davenport’s Board of Directors and Executive Committee. Brad works closely with Thomas Watson, his son and - [Ramsay Ward](https://www.investdavenport.com/advisorbio/ramsay-ward/) - Ramsay joined the financial services industry after graduating from The University of Texas at Austin with a degree in Economics. A native Texan, Ramsay lived in Texas until relocating to Virginia after graduation. As a member of Brown, Orensky & Cann, he works closely with clients to provide exceptional service and support. Developing lasting client - [Elizabeth Brailsford Brown](https://www.investdavenport.com/advisorbio/elizabeth-brailsford-brown/) - Liz’s passion for analytics, wealth management and financial education led her to a career in the finance industry. She joined Davenport in January 2022 after seven years at Altria, where she served in several brand management roles and gained valuable knowledge of finance, business strategy and communication plan development, which she uses in her role - [Nikolas C. Pry](https://www.investdavenport.com/advisorbio/nikolas-c-pry/) - Nik Pry joined Davenport in May 2025 as a Financial Advisor. Before that, he worked with a local advisory firm in Durham, where he began his career as a Branch Office Administrator before transitioning into an advising role. He holds his Series 7 and 66 registrations with FINRA. Nik graduated from the University of North - [Matthew A. Brock](https://www.investdavenport.com/advisorbio/matthew-a-brock/) - Before entering the finance industry and joining Davenport in December 2022, Matt served in several roles in the medical field including an orthopaedic trauma representative with Smith + Nephew, a spine consultant with DePuy Synthes, and a tissue regeneration specialist with Organogenesis. As a financial advisor, Matt draws on this past experience to build relationships - [Dimitrios V. Roumeliotis, CFP®](https://www.investdavenport.com/advisorbio/dimitrios-v-roumeliotis/) - Dimitri is a Financial Advisor in Davenport’s Norfolk office, where he works closely with individuals and families to help them build, preserve, and transfer wealth. He focuses on comprehensive wealth management and offers clients investment management, financial planning, trust and estate planning services, and retirement planning solutions. Dimitri began his financial services career in 2015 - [Melodie Moore](https://www.investdavenport.com/advisorbio/melodie-moore/) - Melodie Moore brings more than 25 years of experience in financial services, with a strong focus on client service and lasting relationships. She’s known for her professionalism, attention to detail, and client-first approach. Before joining Davenport, Melodie built her foundation at firms including Wells Fargo Advisors and RBC Wealth Management. Her expertise spans account administration, - [Kristan Meister](https://www.investdavenport.com/advisorbio/kristan-meister/) - Kristan joined Davenport in May 2025. Prior to joining the firm, she was a Branch Office Administrator for two years. Kristan has more than 16 years of experience in the retail industry including working as Store Manager for high-end retailer, Coach. She utilizes her experience from working in the retail industry to provide operational and - [W. Nelson King, Jr.](https://www.investdavenport.com/advisorbio/nelson-king-jr/) - Nelson joined Davenport in 2018 as an Asset Management Performance Associate before transitioning to an Associate Financial Advisor in 2021. A graduate of the University of Mississippi, Nelson earned a BBA in Managerial Finance & Real Estate. Nelson grew up in Fredericksburg, VA where he learned the importance of investing in your local community. Here - [John W. Vetrovec, CFP®](https://www.investdavenport.com/advisorbio/john-vetrovec/) - John works with clients to invest their money and plan for the future. Before joining Davenport in 2009, he worked for nine years in investments and planning for Merrill Lynch. He is Series 7 and 66 registered and is licensed to sell long-term care insurance. John graduated from NC State University with a BS in - [John R. Gansman, CRPS®, AIF®](https://www.investdavenport.com/advisorbio/john-gansman/) - John began his career in the financial services industry in 1995 with Legg Mason, which later became Smith Barney. In 2009, John and several of his colleagues established the Greensboro office of Davenport & Company. He specializes in wealth advisory for individuals and qualified retirement plans for businesses. John also serves on Davenport's Board of Directors.John earned the - [Jordan Burris](https://www.investdavenport.com/advisorbio/jordan-burris-2/) - Jordan joined Davenport in April 2025 as a Client Support Representative, assisting clients from the Davenport Help Desk, before transitioning to a Client Service Associate role. In this role, she assists advisors with everyday operations, account maintenance, asset movement, and is committed to delivering exceptional service to clients. Prior to joining Davenport, she spent four years - [Jordan Burris](https://www.investdavenport.com/advisorbio/jordan-burris/) - Jordan joined Davenport in April 2025 as a Client Support Representative, assisting clients from the Davenport Help Desk, before transitioning to a Client Service Associate role. In this role, she assists advisors with everyday operations, account maintenance, asset movement, and is committed to delivering exceptional service to clients. Prior to joining Davenport, she spent four years - [John Piscitelli](https://www.investdavenport.com/advisorbio/john-piscitelli/) - In addition to serving clients as a Financial Advisor, John is the Branch Manager of the Virginia Beach office of Davenport & Company. Prior to joining Davenport in 2005, John worked in branch management at Ferris Baker Watts for three years and was an Assistant Branch Manager and financial advisor at Scott & Stringfellow for - [Kyle G. King](https://www.investdavenport.com/advisorbio/kyle-g-king/) - Prior to joining Davenport in July 2023, Kyle was a Financial Advisor at Edward Jones for two years. Before that he gained valuable experience at Appalachian Cast Products where he was the Production Manager. In this role, he fostered client relationships and worked in partnership with them to facilitate production planning in accordance with their - [Kristina Palangi, CFP®](https://www.investdavenport.com/advisorbio/kristina-palangi-cfp/) - Prior to joining Davenport in February 2025, Kristina spent time at Merrill Lynch, and most recently Truist as a financial planner. With more than a decade of financial industry experience, she is committed to developing client relationships that are built on sound financial planning and an understanding of client goals. She is a CERTIFIED FINANCIAL - [Jay Wallin](https://www.investdavenport.com/advisorbio/jay-wallin/) - Jay Wallin has spent more than 30 years in the trust and investment management business. He has experience working for several large regional banks, managing the Mid-Atlantic region for a national asset management firm, and serving as trustee and CEO for a Family Office. Jay also served as President & Chief Executive Officer for Bay - [James W. “Jim” Shearin](https://www.investdavenport.com/advisorbio/jim-shearin/) - Jim has more than 30 years of experience in the finance industry. He joined Davenport & Company in 2007 after 14 years with Morgan Stanley and its predecessor Dean Witter. Jim takes pride in serving as his clients’ financial gatekeeper. His previous career as a CPA provides a base of knowledge that allows him to - [Kayla Barham](https://www.investdavenport.com/advisorbio/kayla-barham/) - Kayla joined Davenport in April 2023 as a Client Service Associate. Kayla graduated from Longwood University with a B.A. in English: Rhetoric and Professional Writing, as well as a minor in History. After graduating, she worked for several years at a personal injury law firm as a Training Coordinator and Senior Paralegal. At Davenport, she - [Katrina Goode](https://www.investdavenport.com/advisorbio/katrina-goode/) - Katrina joined Davenport in 2012. Prior to joining the firm, she spent 20 years working for NASCAR in multiple roles including Director of Sales & Marketing where she was responsible for managing sponsors and brand licensing sales. Prior to that, she worked in marketing for the Atlanta Committee for the Olympic Games helping to promote - [James L. Smythe](https://www.investdavenport.com/advisorbio/jim-smythe/) - With more than 30 years of financial advisory experience, Jim specializes in wealth planning and portfolio management. Before joining Davenport in 2009, Jim worked for 19 years as a Financial Advisor for Merrill Lynch. He is Series 7, 63, and 65 registered and licensed to sell long-term care insurance. Jim offers comprehensive wealth management, retirement - [Karli Woodcock](https://www.investdavenport.com/advisorbio/karli-woodcock/) - Karli joined Davenport in 2024, beginning her career in the firm’s Client Services Department, where she supported numerous advisor teams and their clients. She later joined the Owen, Whelen & Thompson Group, bringing with her a strong knowledge of firm operations and a passion for cultivating meaningful client relationships. Karli holds her Series 7 and - [Mary Katherine Evans](https://www.investdavenport.com/advisorbio/marykatherine-evanshogg/) - Mary Katherine started her career in the financial services industry more than 20 years ago. She focuses on providing sound wealth management strategies and her approach of engaging clients through each step helps them have confidence regarding their financial decisions. Mary Katherine helps clients face the growing need for income planning strategies and rising cost of - [Mark Varner](https://www.investdavenport.com/advisorbio/mark-varner/) - Mark Varner began his career in the securities industry in 1984 with the Washington DC office of Merrill Lynch as a Financial Advisor. In 1988, he was presented with an attractive opportunity to return to Charlottesville and move his successful financial practice to Davenport & Company’s Charlottesville office. Prior to establishing his investment career, Mark - [Holly Crockett](https://www.investdavenport.com/advisorbio/holly-crockett/) - Holly serves as the Branch Manager of Davenport’s Richmond office and he is the Regional Manager for the firm’s Central branches. Prior to joining Davenport in 2015 as an Assistant Branch Manager, Holly worked at Legg Mason as a branch manager for 19 years and as a branch manager/complex manager at Smith Barney/Morgan Stanley for - [Lunsford Johnson](https://www.investdavenport.com/advisorbio/lunsford-johnson/) - Lunsford began his career in the securities industry in 1983 working for a regional investment firm as a Portfolio Manager. Three years later, he accepted an opportunity to join the Trust Department of the Bank of Virginia (now Wells Fargo), and for the next six years, managed equity and fixed-income portfolios for trusts and estates. - [Harry “Skip” W. Hamilton, III](https://www.investdavenport.com/advisorbio/skip-hamilton/) - Skip has more than 30 years of service in the investment industry as a Financial Advisor. He is currently a Managing Director and serves on the Davenport Board of Directors. Prior to joining Davenport in 1996, Skip worked for two years as a Financial Advisor for Interstate Johnson & Lane and three years as a - [Lindsay Liss](https://www.investdavenport.com/advisorbio/lindsay-liss/) - Lindsay joined Davenport in June 2022, bringing over 17 years of experience in delivering exceptional customer service, as well as providing comprehensive administrative and operational support. Known for her meticulous attention to detail and commitment to excellence, Lindsay plays a key role in ensuring a seamless client experience. She earned her Bachelor’s degree in Sustainable - [Faye Sprye](https://www.investdavenport.com/advisorbio/faye-sprye/) - Faye specializes in personalized retirement and financial planning and believes a sound investment plan is critical in helping her clients achieve their financial and life goals. Once she fully understands your goals, she will recommend a suitable investment program and monitor it on an ongoing basis. Faye began her financial services career in 1979 with - [Erin Babashak](https://www.investdavenport.com/advisorbio/erin-babashak/) - Erin joined Davenport in 2024 as a member of the Client Services team, where she supported clients in activating and managing features of Davenport Online. In March 2025, she transitioned to Brown, Orensky & Cann Wealth Management as a Client Service Associate. In this role, she assists the team with everyday operations, account maintenance, and - [Eric E. Eversole, CPFA](https://www.investdavenport.com/advisorbio/eric-e-eversole-cpfa/) - Eric joined Davenport & Company in January 2022. Prior to joining the firm, he worked for seven years for Merrill Lynch Wealth Management; for four years as a Commercial Analyst for Valley Bank; and for four years as a Financial Analyst at Carilion Clinic. Eric works with each client to develop a personalized plan toward helping - [Emily Petersen](https://www.investdavenport.com/advisorbio/emily-petersen/) - Emily joined Davenport in September 2025. Prior to joining the firm, she worked at Milestone Financial Solutions as a New Business Manager and Executive Assistant. Drawing on her experience in customer service and relationship management, she helps the Blankenship & Keiger team deliver personalized, proactive, and timely support tailored to each client’s needs. She graduated - [Emily Fiscella, CFP®](https://www.investdavenport.com/advisorbio/emily-fiscella-cfp/) - Emily joined Davenport in 2026 with more than a decade of experience in the financial services industry. She focuses on comprehensive financial planning, helping clients develop thoughtful strategies to work toward long‑term goals and navigate the financial complexities of both pre‑ and post‑retirement. Emily is a graduate of Christopher Newport University and holds the Certified - [Owen Thacker](https://www.investdavenport.com/advisorbio/owen-thacker/) - Owen joined Davenport in 2023 as a Client Service Associate. With determination and a commitment to building relationships with clients, he quickly became registered with FINRA and advanced to the role of Associate Financial Advisor. As an advisor, Owen supports individuals, families and businesses in developing tailored financial strategies that help to meet their long-term - [Nathaniel H. Rullman](https://www.investdavenport.com/advisorbio/nate-rullman/) - Nate joined Davenport as an Investment Executive in 2011. He specializes in portfolio management solutions and professional money management services for individuals and families. Nate is an alumnus of St. Anne’s-Belfield School and the University of Maryland. Active in his community, he serves as a coach for multiple sports organizations. Additionally, he enjoys playing golf - [Douglas W. Stopkey](https://www.investdavenport.com/advisorbio/doug-stopkey/) - Doug has more than 31 years of experience in the financial industry. He joined Davenport in 2018 after 26 years as a Senior Vice President with Merrill Lynch Wealth Management. Doug is Series 7, 63 and 65 registered with FINRA and is licensed to sell life and health insurance. He is also a qualified Portfolio - [Michael W. Devon, CFP®](https://www.investdavenport.com/advisorbio/mike-devon/) - Mike joined Davenport’s Greensboro office in August 2022, bringing a wealth of experience from his previous roles at Fidelity Investments, where he served most recently as a Financial Consultant. He graduated from Clemson University with a B.S. in Financial Management and holds the CERTIFIED FINANCIAL PLANNER® designation from Wake Forest University. Mike is also Series - [Dennis R. Bradshaw](https://www.investdavenport.com/advisorbio/dennis-bradshaw/) - Dennis has more than 40 years of experience and joined Davenport in 2002. Prior to joining the firm, he specialized in employee benefits as an Assistant Vice President for Central Fidelity Bank. He is Series 7, 63, and 66 registered. Dennis begins each new business relationship by listening to his clients’ needs in order to determine if - [Robert C. Grizzard](https://www.investdavenport.com/advisorbio/rob-grizzard/) - Office location: 2800 N. Parham Road, Suite 205, Richmond, VA 23294 Rob grew up in Hanover County and earned a B.S. in Business Marketing from Virginia Commonwealth University in 1987. After graduation, he spent a year in Virginia Beach establishing new territory for his employer. Following nine years with that company, Rob transitioned to The - [David G. Dunwody](https://www.investdavenport.com/advisorbio/dave-dunwody/) - Dave specializes in taking care of his clients’ current financial needs, as well as helping them prepare for retirement. He joined Davenport in 2012. Prior to joining the firm, he worked as a Senior Mortgage Banker for Sun Trust Mortgage and Senior Mortgage Banker at Access National Mortgage. He is Series 7 and 66 registered - [Richard S. Looney](https://www.investdavenport.com/advisorbio/rick-looney/) - Rick has been with Davenport for more than 19 years. Prior to joining the firm, he worked for nine years in Investment Sales for Wachovia. He is Series 7, 63, 66 and 52 registered.Rick helps clients achieve their financial goals with custom investment advice and outstanding personal service. He offers a wide range of financial - [Raymond Gay, CFP®, AIF®, CPFA®](https://www.investdavenport.com/advisorbio/raymond-gay-cfp-aif-cpfa/) - Ray joined the Staunton and Harrisonburg offices of Davenport in September 2021 and has more than 15 years of finance industry experience. Prior to joining the firm, Ray worked at Fiduciary Wealth Management for over two years and was a Vice President of Investment Analysis & Education at Rogers Financial for 10 years. Ray has - [Ralph Rush Jr.](https://www.investdavenport.com/advisorbio/ralph-rush-jr-2/) - Ralph began his financial career as a financial advisor in 1983. In 1990, he left Merrill Lynch to join Davenport & Company and is now Senior Vice President–Investments. Ralph specializes in serving individuals and families offering a wide range of planning services and investment solutions. He seeks to help his clients achieve their life goals - [R. Thomas Edwards Jr.](https://www.investdavenport.com/advisorbio/r-thomas-edwards-jr/) - Tom has more than 38 years of experience in the securities industry. He joined the Norfolk office of Davenport in January 2017 after 22 years at UBS Financial Services and 16 years at Kidder Peabody & Co. in New York. As a Financial Advisor, Tom serves individuals, families, and small-business owners. He offers his clients - [Phillip Danieley, CFP®](https://www.investdavenport.com/advisorbio/phillip-danieley-cfp/) - Phillip joined Davenport in 2024 as a Financial Advisor with the Severance & Chowning group, which became Chowning Wealth Management following David Severance’s retirement at the end of 2025. Phillip graduated from Elon University with a B.A. in English. Prior to joining the firm, he started his career as an Advanced Planning Life Insurance Agent with - [Seth Wagner](https://www.investdavenport.com/advisorbio/seth-wagner/) - [Sean M. Philpott, AAMS®](https://www.investdavenport.com/advisorbio/sean-philpott/) - As a Financial Advisor, Sean offers clients and potential clients a full range of products and services available through Davenport & Company. Sean is registered through FINRA and is licensed to offer everything from tax advantaged college savings plans, to life and long term care insurance, to individual and business retirement plans. He seeks to - [Robert H. Forsyth](https://www.investdavenport.com/advisorbio/bob-forsyth/) - Bob, a seasoned investment professional, has more than 30 years of industry experience. He graduated from Washington & Lee University. After graduation, he honorably served as an officer in the U.S. Army. When his tour ended, he worked for a regional investment firm for four years. In 1990, Bob joined Davenport & Company and has - [Spencer Harris](https://www.investdavenport.com/advisorbio/spencer-harris/) - Spencer joined Davenport in 2024. As a part of Dolan & Kastenbaum Wealth Management, he helps support the team with administration needs and fielding and executing client requests. Spencer graduated from Virginia Tech with a degree in Economics in 2022. While at Virginia Tech he was a member of the history honor society, Phi Alpha - [Stewart E. Emenheiser, CFP®](https://www.investdavenport.com/advisorbio/stewart-e-emenheiser-cfp/) - Before joining Davenport & Company in 2019, Stewart spent 13 years as a Financial Advisor with Edward Jones Investments. His focus is on collaborating with families and business owners to provide personalized strategies for their financial goals. Stewart earned a Bachelor of Science degree from James Madison University. He is Series 7, 9, 10, 63 - [Stewart M. Sigler](https://www.investdavenport.com/advisorbio/stewart-sigler/) - With more than 36 years as a Financial Advisor, Stewart specializes in managing client relationships and assets. Prior to joining Davenport in 2016, he worked as a Financial Advisor for 10 years at Morgan Stanley and for 24 years at Legg Mason. He is Series 7, 63 and 66 registered.Stewart helps clients achieve their financial - [Clay Lassiter](https://www.investdavenport.com/advisorbio/clay-lassiter/) - Clay joined Davenport in 2021 and worked as a Client Services Floater assisting several advisor teams in the Richmond branch before becoming a Registered Client Service Associate. Clay assists clients with day-to-day operations, opening accounts, account maintenance, and general customer service. He holds his Series 7 and 63 registrations with FINRA. Clay is a graduate - [Chris Tisdale](https://www.investdavenport.com/advisorbio/chris-tisdale/) - Chris Tisdale joined Davenport in 2024 as a Financial Advisor. Prior to joining the firm, he served as a technician and trainer in the pest and termite industry for nearly seven years, including on the real estate side. As a Financial Advisor, he brings his clients a high level of customer service and aims to - [Chris LaRocca, CFP®, TPCP®, AEP®](https://www.investdavenport.com/advisorbio/chris-larocca/) - Chris joined Davenport in December 2023. Prior to joining the firm he worked at Truist, formerly BB&T Securities, for more than 15 years as a Wealth Advisor. Chris enjoys building relationships with people to understand their “purpose” and is passionate about helping them maximize the fulfillment and enjoyment in their lives. Chris offers clients investment - [Chris Blair](https://www.investdavenport.com/advisorbio/chris-blair/) - Chris has more than 35 years of experience in financial services and wealth management. Prior to joining Davenport, he worked for two years in credit insurance sales. He is Series 7, 63, and 65 registered and specializes in fixed income sales.Working with the extensive resources at Davenport, Chris can help his clients manage their assets - [Charlie Munford](https://www.investdavenport.com/advisorbio/charlie-munford/) - Charlie grew up in the small town of Franklin, Virginia and spent his summers working in the town’s paper mill. After graduating from the University of Colorado, he followed in his father’s legacy and worked in the paper business. In 1993, he made a profession change and began his 30-year investment career. Charlie joined Davenport - [Carter Schotta](https://www.investdavenport.com/advisorbio/carter-schotta/) - Prior to joining Davenport in May 2025, Carter was in customer relations at CarMax, and in sales at Wine & Country Life. She utilizes her background in customer service and relationship management to assist the group in providing proactive, individualized and timely support to clients. Active in the community, Carter has previously served in roles - [Thomas B. Graham](https://www.investdavenport.com/advisorbio/thomas-b-graham/) - Tom joined Davenport in July 2023 with more than 35 years of finance industry experience. Prior to joining the firm, he was a Financial Advisor at Edward Jones for nearly 30 years. Tom earned an undergraduate degree from Virginia Military Institute and an MBA in finance from Virginia Tech. In his free time, Tom attempts - [Carter Mathis](https://www.investdavenport.com/advisorbio/carter-mathis/) - Carter joined Davenport in July 2025. Prior to joining the firm, he was an Investment Management Consultant at Fidelity Investments for four years. In this role he assisted clients with managing their accounts and helping them achieve the right mix of equities. He also spent two years with Edward Jones as a Branch Office Administrator - [W. Smith Williams](https://www.investdavenport.com/advisorbio/smith-williams/) - Smith joined Davenport in March 2022, bringing a varied background with a particular focus on finance. Prior to joining the firm, Smith held various positions including: Sector Specialist in the Consumer, Retail and Business Services practice at Daybreak Capital Partners, a boutique investment bank; Director of Capital Development for Sixup, a venture-backed, Silicon Valley fin-tech - [Thomas N. Anderson III](https://www.investdavenport.com/advisorbio/thomas-n-anderson-iii/) - Tom has more than 25 years of experience in the securities industry. Prior to joining Davenport in 2019, he was a Financial Advisor and Senior Director at Oppenheimer & Co. Inc. Tom focuses on growing and protecting the assets of high net worth clients (individuals, families, corporate executives, and businesses), including leveraging the resources at - [Barry R. Riddle](https://www.investdavenport.com/advisorbio/barry-riddle/) - With more than 25 years of experience in investment advisory and wealth management services, Barry specializes in helping clients with their individual financial and investment needs. He joined Davenport in 2002 as a Financial Advisor and now serves as a Senior Vice President, Investments. Before joining the firm, he worked as a Financial Advisor for J.C. - [Thomas Y. Cho](https://www.investdavenport.com/advisorbio/thomas-y-cho/) - Tom has guided clients in the investment business for more than 27 years, the past 15 of which have been at Davenport helping individuals successfully preserve and grow their wealth. In addition to serving clients, Tom is also the Branch Manager of Davenport’s Kilmarnock office. He is Series 7, 63, 65 and 9/10 registered and holds - [Tim Taylor](https://www.investdavenport.com/advisorbio/tim-taylor/) - Tim Taylor is not just a Financial Advisor, he has been a trusted friend and confidant to his clients over his 30 years in the industry. A craftsman who believes in building customized client portfolios, Tim learns each clients’ specific needs by intently getting to know them in every stage of their life. He then - [Tyler Lux](https://www.investdavenport.com/advisorbio/tyler-lux/) - Prior to joining Davenport in 2024, Tyler spent 20 years working with S&P Global (formerly SNL Financial), and held various roles across the organization while working in London and Hong Kong. He returned to home to Charlottesville in 2015. In his most recent role, he was responsible for cultivating and managing customer relationships with Investment - [William R. Boyd](https://www.investdavenport.com/advisorbio/bill-boyd/) - Bill specializes in helping individuals and their families achieve life goals by providing sage insight and guidance. Growing up in a family where stock market news was often a topic of dinner conversation, Bill learned at an early age the importance of growing and protecting his money. Following in his father's footsteps, he entered the financial - [Alicia L. Hutchinson](https://www.investdavenport.com/advisorbio/alicia-l-hutchinson/) - With over 10 years of experience, Alicia brings a wealth of knowledge to her role. She provides administrative and operational support to the Atchinson & Bird team. She graduated from Southern Columbia University with an Associate of Applied Science (AAS) degree in Business, which has equipped her with a solid foundation in business principles and - [Abram “Abe” R. Halterman](https://www.investdavenport.com/advisorbio/abram-abe-r-halterman/) - Abe is a lifelong Shenandoah Valley resident. After graduating from Augusta County Schools, he went on to William and Mary, graduating with a Bachelor of Arts in Economics. He is currently an Elder at Holy Cross Presbyterian and the Committee Chair for Valley Young Life. He was recently elected to the Rockingham County Fair Board ## Market Updates - [Investment Process Overview | Davenport Insider Buying Fund](https://www.investdavenport.com/davenport-asset-management/marketupdates/investment-process-overview-davenport-insider-buying-fund/) - July 2026 The Davenport Insider Buying Fund (DBUYX) emphasizes opportunistic purchases in companies where senior management and board members are buying company stock. It is a disciplined equity strategy that requires insider buying for portfolio inclusion – combining signal-driven conviction with rigorous fundamental research. Click below to read more about the investment process. READ MORE - [There's Gold in Them Hills Q2 2026](https://www.investdavenport.com/davenport-asset-management/marketupdates/theres-gold-in-them-hills-q2-2026/) - July 2026 There’s gold in them hills…or should we say there’s semiconductors in them hills. Market gains were led by all things related to AI infrastructure. Indeed, a gold rush mindset seemed to grip the market as investors swarmed into all things tied to the AI compute/infrastructure buildout. Much like the gold rush, few are - [Is the Value & Income Fund Doing its Job](https://www.investdavenport.com/davenport-asset-management/marketupdates/is-the-value-income-fund-doing-its-job/) - June 2026 The Value & Income Fund (DVIPX) was started in 2010 with a dual mandate of value investing and providing a solid and growing income stream via dividends. Recently, during this “risk on” phase concentrated on all things AI infrastructure, we have stuck to our mandate. Although delivering on our promise, our returns look - [Introducing NEW ETFAdvisor Models](https://www.investdavenport.com/davenport-asset-management/marketupdates/introducing-new-etfadvisor-models/) - June 2026 We are pleased to announce the launch of 2 new ETFAdvisor models. The ETFAdvisor Active-Passive Growth Model is designed to pursue long-term growth of capital using both passive index ETFs and actively managed ETFs. The ETFAdvisor Diversified Fixed Income Model seeks to generate a maximum amount of income with limitations on the amount - [The Insider Advantage](https://www.investdavenport.com/davenport-asset-management/marketupdates/the-insider-advantage/) - May 2026 When corporate insiders buy their company stock, more than five decades of peer-reviewed finance research has documented that these purchases predict statistically significant abnormal returns. Click below to read more about the academic foundation for the Davenport Insider Buying Fund (DBUYX). READ MORE - [The HALO Effect](https://www.investdavenport.com/davenport-asset-management/marketupdates/the-halo-effect/) - April 2026 Many companies face heightened risk of being disrupted by AI as the technology upends traditional business models. As investors grapple with these new challenges, the term “HALO”, an acronym for “Hard Assets Low Obsolescence”, has gained attention and popularity. Click below to read more about how “The HALO Effect” has taken a more - [Topsy-Turvy Q1 2026](https://www.investdavenport.com/davenport-asset-management/marketupdates/topsy-turvy-2/) - April 2026 Topsy-turvy is the best way to describe the first quarter of 2026. Renewed tariff concerns, waning enthusiasm for AI-related stocks and war in Iran ultimately became headwinds. Assuming a reasonably swift resolution to Iran (or at least a going from a boil to a simmer), we think many stocks now offer compelling deals. - [A Change of Tone](https://www.investdavenport.com/davenport-asset-management/marketupdates/a-change-of-tone/) - April 2025 The first quarter was very eventful and brought a change of tone to markets. We started the year on a decent foot, but stocks weakened in mid-February amid political and economic uncertainty. Even the much loved “Magnificent 7” cooled off. We are carefully monitoring the landscape and selectively leaning into some areas that - [Why Buy DSCPX Now?](https://www.investdavenport.com/davenport-asset-management/marketupdates/topsy-turvy/) - March 2026 Despite the recent small-cap rally being driven largely by lower-quality, more speculative companies, the Davenport Small Cap Focus Fund (DSCPX) continues to distinguish itself with materially higher metrics in quality, profitability, and valuation compared to benchmarks like the Russell 2000 and S&P 600. This reinforces ou­­­­­­­r commitment to owning businesses that prove to - [The S&P 500 Over the Next 10 Years](https://www.investdavenport.com/davenport-asset-management/marketupdates/the-sp-500-over-the-next-10-years/) - February 2026 Driven in very large part by technology, the S&P 500 Index has posted incredible results over the last decade. Through year end 2025, the index generated annualized 10-year returns of 14%, with returns going into overdrive the last three years (2023-’25) at 23%. This is markedly above historical norms of roughly 10%. We - [VIP: What Happens When AI Goes Mainstream?](https://www.investdavenport.com/davenport-asset-management/marketupdates/vip-what-happens-when-ai-goes-mainstream/) - January 2026 What happens when Artificial Intelligence (AI) goes mainstream? As we scour the investment landscape for enticing opportunities in the Davenport Value & Income Portfolio, we’re at least as enthusiastic about investing in technology beneficiaries as we are investing in technology pioneers. Click below to read more about how different companies are using AI - [Well, That Was Interesting...What Now?](https://www.investdavenport.com/davenport-asset-management/marketupdates/well-that-was-interesting-what-now/) - January 2026 This past year brought a dizzying series of events. We had DOGE, tariffs, the Middle East, the “Big Beautiful Bill”, the Fed and all things artificial intelligence (AI) give way to a dramatic swoon and even more dramatic recovery (oh and don’t forget a government shutdown that markets largely ignored). In fact, it’s - [Investing Themes for Today & Tomorrow](https://www.investdavenport.com/davenport-asset-management/marketupdates/investing-themes-for-today-tomorrow/) - November 2025 Watch this video as George Smith and other members of the Davenport Asset Management Investment Team discuss investment themes and outlook for now and into the immediate future. WATCH THE VIDEO - [DBALX: The Virtues of Vanilla](https://www.investdavenport.com/davenport-asset-management/marketupdates/dbalx-the-virtues-of-vanilla/) - October 2025 Who likes vanilla? If we’re talking about ice cream, vanilla is among the world’s most-loved flavors. If we’re talking about investments, so-called “plain vanilla” securities often get a “bah, humbug” reaction. Maybe they shouldn’t. Click below to read more about The Virtues of Vanilla in the Davenport Balanced Income Fund. READ MORE - [The Good, the Bad, and the Overheated](https://www.investdavenport.com/davenport-asset-management/marketupdates/the-good-the-bad-and-the-overheated/) - October 2025 Market indices continued to charge higher in the third quarter. After a stunning recovery from tariff-induced hysteria in Q2, stocks added to their gains in impressive fashion. All told, the confluence of a solid economy, fiscal stimulus, monetary stimulus and a generational technology theme provides a powerful backdrop for markets. Click below to - [Fake News! Cybersecurity in the Era of AI](https://www.investdavenport.com/davenport-asset-management/marketupdates/fake-news-cybersecurity-in-the-era-of-ai/) - July 2025 Watch this video as Davenport’s Jeff Potter illuminates the concerns and safeguards that individuals and organizations should learn in order to protect their family, staff, and livelihood. This program will inform the viewer on scams, protection methods, and breach management. WATCH THE VIDEO - [Sweeping Fear Under the Rug](https://www.investdavenport.com/davenport-asset-management/marketupdates/sweeping-fear-under-the-rug/) - July 2025 What a difference a couple months makes! Markets managed a remarkable comeback in the second quarter. Many feared tariffs would cause significant inflation and send us spiraling into recession. All told, this rally has taught us yet again that kneejerk reactions to political curveballs or headlines rarely make sense. Click below to watch - [DVIPX: Defensive Amidst Uncertainty](https://www.investdavenport.com/davenport-asset-management/marketupdates/dvipx-defensive-amidst-uncertainty/) - April 2025 We are pleased to report the Value & Income Fund (DVIPX) has proven relatively stable amidst increased turbulence. Read on to see how DVIPX is outperforming the S&P 500® year to date. READ MORE - [Trump, Uncertainty, and Markets](https://www.investdavenport.com/davenport-asset-management/marketupdates/trump-uncertainty-and-markets/) - March 2025 Markets have been challenging recently, though not significantly so in a historical context. Like him or not, the Trump administration has brought uncertainty to markets. However, it seems to us markets have already discounted significant duress. Read on for our thoughts on navigating this environment, and how this recent pullback may present some - [2025 Fixed Income Outlook](https://www.investdavenport.com/davenport-asset-management/marketupdates/2025-fixed-income-outlook/) - January 2025 Watch this video as the Davenport Asset Management Fixed Income Team, Kevin Hopkins, Will Cleland, and Emily LaVay discuss how they are prepared to handle interest rate challenges in 2025. Click below to watch the recorded Zoom presentation. WATCH THE VIDEO - [Financial Planning for Philanthropists](https://www.investdavenport.com/davenport-asset-management/marketupdates/financial-planning-for-philanthropists/) - February 2025 Watch this video as Davenport Asset Management hosts Ann Deppman, Assistant Vice President of Planned Giving at VCU, Jason Chestnutt, Executive Director of Planned Giving at VCU, and Lisa Hatcher, Financial Planning Product Manager of Davenport & Company, as they discuss strategies every financial planner and client should consider in their philanthropic endeavors. READ - [Examining the Timeliness of Small Caps](https://www.investdavenport.com/davenport-asset-management/marketupdates/examining-the-timeliness-of-small-caps/) - March 2025 It is no secret that the small cap space has been challenging for a historic period of time. While recent underperformance is not a sufficient basis for a bullish thesis on the asset class, we think there are several factors that support improved performance on the horizon. Click below to read more about - [Patience and Opportunity with Small Caps](https://www.investdavenport.com/davenport-asset-management/marketupdates/patience-and-opportunity-with-small-caps/) - March 2025 Investing alongside our clients through nearly every market cycle America has encountered has taught us the virtues of patience and discipline. The Davenport Small Cap Focus Fund has more than a decade of higher returns with lower risk than the Russell 2000. Read on about our process that, we believe, helps us take - [Celebrating a Decade of Success: The Davenport Small Cap Focus Fund](https://www.investdavenport.com/davenport-asset-management/marketupdates/celebrating-a-decade-of-success-the-davenport-small-cap-focus-fund/) - January 2025 We are excited to mark the 10-year anniversary of the Davenport Small Cap Focus Fund (DSCPX). As we celebrate this important milestone, the DSCPX remains committed to investing in high quality, timely situations where we have deep knowledge and differentiated viewpoints. Thank you for your support and trust. Here’s to another decade of - [Welcome 2025!](https://www.investdavenport.com/davenport-asset-management/marketupdates/welcome-2025/) - January 2025 Stocks may have ended 2024 on a sour note, but generally put together a fantastic year. AI, the Fed and the election were the primary drivers. Looking ahead, a higher valuation for the S&P 500® Index argues for more subdued returns and we will watch the ongoing dance between economic growth and the - [Future-Ready: Succession Planning Essentials](https://www.investdavenport.com/davenport-asset-management/marketupdates/future-ready-succession-planning-essentials/) - October 2024 Watch this video of Davenport Asset Management hosting Katherine Whitney and Scott Warren, Co-founders and Directors of Warren Whitney, as they teach us how to mitigate risks and maintain leadership and organizational continuity through planned and unplanned transitions. Click below to watch the recorded Zoom presentation. WATCH THE VIDEO - [Climbing the Wall](https://www.investdavenport.com/davenport-asset-management/marketupdates/climbing-the-wall/) - October 2024 Who would have guessed the S&P would be up 22% nine months into the year? Or that the S&P and Dow would be up 10 of the last 11 months? Such feats would seem improbable to most given geopolitical risks, election anxiety and recession fears. Just a few weeks ago many investors thought - [The Rate Cut Cycle Has Begun](https://www.investdavenport.com/davenport-asset-management/marketupdates/the-rate-cut-cycle-has-begun/) - September 2024 We can exhale – the FOMC opted for a larger 50 bps cut. Read on as Asset Management’s Fixed Income Team shares their thoughts on yesterday’s Fed rate cut decision. READ MORE - [Value & Income Portfolio: Fair Prices & Long Horizons](https://www.investdavenport.com/davenport-asset-management/marketupdates/value-income-portfolio-fair-prices-long-horizons/) - September 2024 What matters most in determining the price of an investment? It’s an important question, and one that arguably has more incorrect answers than correct ones. In the Davenport Value & Income Portfolio, we strive to separate the long-term “signals” from the short-term “noise”. Click below to read more about how we watch the - [Investment Implications of the 2024 Presidential Election](https://www.investdavenport.com/davenport-asset-management/marketupdates/investment-implications-of-the-2024-presidential-election/) - September 2024 Watch this video of Davenport Asset Management hosting Philip Orlando, Chief Equity Market Strategist of Federated Hermes, as he discusses the investment implications of the upcoming 2024 US presidential election. Click below to watch the recorded Zoom presentation. WATCH THE VIDEO - [Dog Days Bring Volatility](https://www.investdavenport.com/davenport-asset-management/marketupdates/dog-days-bring-volatility/) - August 2024 Much has changed since we penned our mid-year market update. In fact, it almost feels as though that letter is already obsolete. Click below to read more about our thoughts on recent market volatility, and how our Davenport Funds are faring. READ MORE - [The Fed, AI, and a Narrow Market](https://www.investdavenport.com/davenport-asset-management/marketupdates/2024-mid-year-stock-market-update/) - July 2024 So far in 2024, results for equity markets have been mixed and the lead stories have been the Federal Reserve, artificial intelligence (AI) and “narrow” returns. Read on for our full Q2 stock market update. READ MORE - [Value & Income Portfolio: Patience is a Virtue](https://www.investdavenport.com/davenport-asset-management/marketupdates/value-income-portfolio-patience-is-a-virtue/) - May 2024 As Mark Twain said, “history doesn’t repeat itself, but it often rhymes.” Within the Davenport Value & Income Portfolio we seek companies with reasonable valuations, solid finances, and reasonable growth potential that translates into a cash flow stream enabling good dividend track records. Click below to read more about why patience is a - [The Perils of a Partisan Portfolio](https://www.investdavenport.com/davenport-asset-management/marketupdates/the-perils-of-a-partisan-portfolio/) - May 2024 As the great Warren Buffett once said, “If you mix your politics with your investment decisions you’re making a big mistake.” With the 2024 election nearly upon us, we encourage everyone to vote at the ballot box, but perhaps not with your portfolio. Click below to read our case study about The Perils - ["No Landing", Fed Backstop & AI Have Markets Cruising](https://www.investdavenport.com/davenport-asset-management/marketupdates/no-landing-fed-backstop-ai-have-markets-cruising/) - March 2024 Equity markets continued to be kind to investors as we started 2024. Resilient economic growth and reassuring corporate earnings allowed stocks to build upon last year’s gains. Growth-oriented stocks continued to outperform, although market gains were fairly broad. For the first quarter, the S&P 500® Index gained 10.6% to record highs and the - [Big Potential in Small Caps](https://www.investdavenport.com/davenport-asset-management/marketupdates/big-potential-in-small-caps/) - March 2024 More favorable valuations and potential rate cuts later in the year may bode well for small caps. Click below to read more about why small caps’ divergence from S&P 500® may present an opportunity. READ MORE - [Don't Assume the Outcome](https://www.investdavenport.com/davenport-asset-management/marketupdates/dont-assume-the-outcome/) - February 2024 Join us for an estate planning session featuring speakers from Virginia Estate & Trust Law, PLC where they will detail an estate plan’s most important pieces to avoid missteps and missed assumptions that can alter your legacy. Click below to watch the recorded Zoom presentation. WATCH THE VIDEO - [Core Leaders Portfolio: Focusing on Quality](https://www.investdavenport.com/davenport-asset-management/marketupdates/core-leaders-portfolio-focusing-on-quality/) - January 2024 The Davenport Core Leaders Portfolio seeks to own high-quality companies with attractive structural growth characteristics. Read on as Jeffrey Omohundro, Portfolio Manager for the Core Leaders Portfolio, explains why we believe these high-quality companies will produce solid investment performance over time. READ MORE - [Davenport Equity Opportunities Fund: Unafraid to Be Different](https://www.investdavenport.com/davenport-asset-management/marketupdates/davenport-equity-opportunities-fund-deopx-unafraid-to-be-different/) - January 2024 Business Insider sat down with Equity Opportunities co-managers George Smith and Chris Pearson as they explain how they have “consistently brought in strong returns by being willing to be different.” Click below to read the full interview on how they have outperformed for over a decade, what they’re looking for in an investment, - [2023 Meets 2024](https://www.investdavenport.com/davenport-asset-management/marketupdates/2023-meets-2024/) - December 2023 Equity markets generated surprisingly robust returns in 2023. The S&P 500® Index gained 26.3% for the year and the Russell 2000® Index returned 16.9%. Much of the gains were fueled by a feverish late-year rally. For the fourth quarter alone, the S&P and Russell returned 11.7% and 14.0%, respectively. As you may recall, - [2024 Fixed Income Outlook](https://www.investdavenport.com/davenport-asset-management/marketupdates/the-2024-fixed-income-outlook/) - December 2023 Please join Kevin Hopkins, Chris Kelley, and Will Cleland after the last Federal Open Market Committee (FOMC) meeting of 2023 as they discuss how to prepare for 2024 in an ever evolving bond market. Click below to watch the recorded Zoom presentation. WATCH THE VIDEO - [DEOPX: A Strong Offering Bounces Back – Morningstar​](https://www.investdavenport.com/davenport-asset-management/marketupdates/deopx-a-strong-offering-bounces-back-morningstar/) - December 2023 Morningstar writes that “Davenport Equity Opportunities’ well-equipped team executes its high-conviction approach effectively” in this new Analyst Take on DEOPX. Click below to read the full report and discover why this Fund is sitting in “the top decile of category rivals” year to date. Click below to read the full report and discover - [Davenport Asset Management Launches New Mutual Fund Offering](https://www.investdavenport.com/davenport-asset-management/marketupdates/davenport-asset-management-launches-new-mutual-fund-offering/) - November 2023 We are pleased to announce the launch of the Davenport Insider Buying Fund (DBUYX), a new no-load mutual fund that utilizes insider buying activity as a key driver for its investment strategy. The Fund will be co-managed by Adam Bergman, CFA, and Kevin Bennett, CFA. Click below to read the full press release. - [The Home Stretch](https://www.investdavenport.com/davenport-asset-management/marketupdates/the-home-stretch/) - September 2023 Stocks seemed to run out of gas in the third quarter. The S&P 500® Index and Russell 2000® Index lost 3.3% and 5.1%, respectively. Most of the losses were concentrated in September, which historically is the worst month of the year for stocks. It wasn’t surprising to see equity markets stall a bit, - [Value & Income Portfolio: The Value in Being Contrarian](https://www.investdavenport.com/davenport-asset-management/marketupdates/the-value-in-being-contrarian/) - August 2023 Significant ink and airtime has been devoted to the domination that a few high-growth technology stocks have exerted on US markets in the first half of 2023. The question, in our minds is: what next? Read on as Adam Bergman, Portfolio Manager for the Value & Income Portfolio, lays out the reasons for - [Core Leaders Portfolio: Durable Growth Engines of the Future](https://www.investdavenport.com/davenport-asset-management/marketupdates/durable-growth-engines-of-the-future/) - August 2023 The Davenport Core Leaders Portfolio seeks to invest in industry leading companies with wide competitive moats and above average growth prospects. Artificial intelligence, cybersecurity, the clean energy transition, and cell & gene therapy are investable themes we believe can power returns into the future. Read on as Jeffrey Omohundro, Portfolio Manager for the - [What Makes Us Different](https://www.investdavenport.com/davenport-asset-management/marketupdates/what-makes-us-different/) - August 2023 Davenport Asset Management’s competitive advantages come from our history, partnership, independence, experience, and process refined over the 160-year history of our firm. Read on to learn why our clients have entrusted us with the privilege of managing over $10 billion of their hard-earned assets. READ MORE - [Thoughts on AI](https://www.investdavenport.com/davenport-asset-management/marketupdates/thoughts-on-ai/) - June 2023 The introduction of Generative AI platforms such as ChatGPT has sparked an arms race in the Artificial Intelligence industry. Read on as Brian Ward, Research Analyst, dives into the AI landscape, and what the future may hold in this rapidly developing space. READ MORE - [Barron's: 2 Small Cap Funds That Could Ride the Market's Next Big Move](https://www.investdavenport.com/davenport-asset-management/marketupdates/barrons-2-small-cap-funds-that-could-ride-the-markets-next-big-move/) - May 2023 Are small caps due for a turn-around? The Davenport Small Cap Focus Fund (DSCPX) was recently profiled in Barron’s as one of “2 Small-Cap Funds That Could Ride the Market’s Next Big Move.” Read on to find out why. READ MORE - [Barron's Live Podcast - Managing Your Money: Finding Small Stocks With Big Prospects](https://www.investdavenport.com/davenport-asset-management/marketupdates/barrons-live-podcast-managing-your-money-finding-small-stocks-with-big-prospects/) - May 2023 Small caps have suffered this year, but the good news for investors is that the weakness has left the sector looking especially cheap. Listen as Davenport Asset Management's George Smith and Chris Pearson chat with Lauren Foster, Senior Writer of Barron's to discuss what they look for in companies and stocks they're excited - [We Believe the World's Best Companies are in the Davenport Core Leaders Portfolio](https://www.investdavenport.com/davenport-asset-management/marketupdates/we-believe-the-worlds-best-companies-are-in-the-davenport-core-leaders-portfolio/) - March 2023 We are pleased to announce the rebranding of the Core Portfolio as the Davenport Core Leaders Portfolio. Core Leaders seeks to generate competitive returns by owning a collection of the world’s most established, dominant and durable franchises. Click below to learn more. READ MORE - [Evolving Our Process](https://www.investdavenport.com/davenport-asset-management/marketupdates/evolving-our-process/) - April 2023 Since 1984, the Investment Policy Committee has guided Davenport Asset Management, and once again, the group’s collaboration is laying the groundwork for future efficiencies and growth with the adoption of new management teams for the Core Leaders and Value & Income Portfolios. Click below to read more about our evolving process. READ MORE - [A Dividend Advantage](https://www.investdavenport.com/davenport-asset-management/marketupdates/a-dividend-advantage/) - February 2023 For more than 20 years, the Davenport Value & Income Portfolio (VIP) strategy has focused on value opportunities and companies with meaningful dividends and dividend growth potential. Click below to read how meaningful a role dividends can play in overall performance. READ MORE - [January 2023 Market Update](https://www.investdavenport.com/davenport-asset-management/marketupdates/january-2023-market-update/) - [Adam Bergman Joins Davenport & Co.’s Investment Policy Committee](https://www.investdavenport.com/davenport-asset-management/marketupdates/adam-bergman-joins-the-ipc/) - January 2023 We are delighted to announce Adam Bergman, Senior Vice President and Research Analyst, has joined Davenport Asset Management’s Investment Policy Committee (IPC). We look forward to him making a meaningful contribution to our process. Click below to read the full press release. READ MORE - [New Year's Thoughts](https://www.investdavenport.com/davenport-asset-management/marketupdates/quarterly-stock-market-update-q4-2022/) - January 2023 As we enter 2023, inflation and Fed policy are still front and center. But, the pace of rate hikes is slowing and we believe we are closer to the end than the beginning of this tightening cycle. Read on for our full year-end stock market update. READ MORE - [Navigating an Unsettled Yield Curve](https://www.investdavenport.com/davenport-asset-management/marketupdates/navigating-an-unsettled-yield-curve/) - December 2022 The treasury yield curve has not seen this level of volatility in several decades creating uncharted territory for many bond investors. Fortunately, the Davenport Asset Management Fixed Income team has spent years navigating challenging rate environments mitigating loss and reliably preserving principal and providing income. Watch as Kevin Hopkins, Chris Kelley, and Will - [International Equities Are Down, but are They Out?](https://www.investdavenport.com/davenport-asset-management/marketupdates/international-equities-are-down-but-are-they-out/) - November 2022 The old saying, “When the US sneezes, the world catches a cold.” is on the minds of many investors today as the current global environment has left many in doubt about what the future holds. Watch as Davenport Asset Management’s Geoff Sulanke chats with Ray Vars of Harding Loevner to discuss the current - [A Core Portfolio Q & A](https://www.investdavenport.com/davenport-asset-management/marketupdates/a-core-portfolio-q-a/) - November 2022 Davenport Asset Management’s Core Portfolio, launched in 1984, was our first managed money strategy. Modeled after our very own profit sharing plan, the portfolio was built on the notion of investing alongside our clients. Core invests in high-quality large cap companies that can deliver competitive and durable returns for investors. We recently sat - [Could It Almost Be Time to Buy?](https://www.investdavenport.com/davenport-asset-management/marketupdates/could-it-almost-be-time-to-buy/) - October 2022 The market has been rough this year, but could it almost be time to buy? Historically, calendar years with market declines of more than 10% have typically been followed by strong 1 and 3 year returns. Click below to see our breakdown of the historical market data. READ MORE - [How We Manage Risk](https://www.investdavenport.com/davenport-asset-management/marketupdates/how-we-manage-risk/) - June 2022 In Davenport’s small and mid-cap mutual funds, we believe in holding a few dozen stocks that we know really well. In our view, this method provides better performance and risk management than holding hundreds or even thousands of names that aren’t necessarily contributing to your goals in a comparable index fund. And we’ve - [Fixed Income Basics: Three Reasons to Hold Bonds in a Portfolio](https://www.investdavenport.com/davenport-asset-management/marketupdates/fixed-income-basics-three-reasons-to-hold-bonds-in-a-portfolio/) - May 2022 What functions are bonds playing in an investment portfolio? Read on to explore three primary reasons why investors might choose to allocate a portion of their portfolio to fixed income instruments. READ MORE - [Then & Now](https://www.investdavenport.com/davenport-asset-management/marketupdates/then-now/) - May 3, 2022 The current environment illustrates how quickly market conditions can change. Read on for an update from George Smith, Chairman of the Investment Policy Committee. READ MORE - [Public Relations PRimer: How to Get Your News Out](https://www.investdavenport.com/davenport-asset-management/marketupdates/public-relations-primer-how-to-get-your-news-out/) - March 2022 Every successful business will eventually have to deal with the press. Watch as veteran journalists Andy Poarch and Greg Gilligan teach us the ropes with a presentation titled “Public Relations Primer: How to Get Your News Out.” WATCH THE VIDEO - [A Lightning Round on Markets](https://www.investdavenport.com/davenport-asset-management/marketupdates/a-lightning-round-on-markets/) - March 21, 2022 Much has transpired since our late February update when Russia’s invasion of Ukraine commenced. Interestingly, however, markets are now higher than they were at the timing of that update. Read on for an update from George Smith, Chairman of the Investment Policy Committee. Click below to read the full update READ MORE - [Fixed Income Viewpoints: Russia, Volatility and Rate Hikes](https://www.investdavenport.com/davenport-asset-management/marketupdates/fixed-income-viewpoints-russia-volatility-and-rate-hikes/) - March 2, 2022 To say February was a volatile month may be the understatement of the year. Read on for an update from Davenport Asset Management’s Fixed Income Team. READ MORE - [Markets and the Situation in Ukraine](https://www.investdavenport.com/davenport-asset-management/marketupdates/markets-and-the-situation-in-ukraine/) - February 24, 2022 Markets had already been on shaky footing so far this year and news of Russia’s invasion of Ukraine has accelerated declines. Read on for an update from George Smith, Chairman of the Investment Policy Committee. READ MORE - [Investing In Your Organization’s Success](https://www.investdavenport.com/davenport-asset-management/marketupdates/investing-in-your-organizations-success/) - February 2022 As a part of Davenport Asset Management’s Virtual Investor Summit Series, Scott Andrews-Weckerly and Beth Vann-Turnbull recently spoke over Zoom to discuss “Investing in Your Organization’s Success: Strategic Planning for Sustainability”. WATCH THE VIDEO - [January 2022 Market Update](https://www.investdavenport.com/davenport-asset-management/marketupdates/january-2022-market-update/) - [Strategic Asset Allocation Committee Report](https://www.investdavenport.com/davenport-asset-management/marketupdates/strategic-asset-allocation-committee-report-2/) - Winter 2021 The Winter 2021 report from our Strategic Asset Allocation Committee is now available. Read on for the Committee’s thoughts on inflation, interest rates, Fed policy, earnings expectations, and developments in China. READ MORE - [A Department Update from John Ackerly](https://www.investdavenport.com/davenport-asset-management/marketupdates/a-department-update-from-john-ackerly/) - January 2022 Wow. Who Could Have Predicted 2021? Nobody! Read on for a department update from John Ackerly, Director of Davenport Asset Management. READ MORE - [Intuit - A DEOPX Case Study](https://www.investdavenport.com/davenport-asset-management/marketupdates/intuit-a-deopx-case-study/) - October 2021 In the Davenport Equity Opportunities Fund (DEOPX), we rely on our deep research process to uncover quality businesses with strong balance sheets. Read more as we highlight our experience with long standing holding, Intuit Inc. (INTU), which illustrates what happens when we get our research right.READ MORE - [ESG and the Davenport Asset Management Research Process](https://www.investdavenport.com/davenport-asset-management/marketupdates/esg-and-the-davenport-asset-management-research-process/) - September 2021 Read on as Chris Pearson, SVP and Investment Policy Committee Member, breaks down the ESG movement and explains why we believe some ESG factors can be used to reduce risk in Davenport Asset Management strategies. READ MORE - [Highlighting Small and Mid-Cap](https://www.investdavenport.com/davenport-asset-management/marketupdates/highlighting-small-and-mid-cap/) - August 2021 The Davenport Small Cap Focus Fund (DSCPX) and the Davenport Equity Opportunities Fund (DEOPX) surpass benchmarks on a YTD basis as the "risk on" speculative trade fades and quality matters. Read on for our highlight on our small and mid-cap strategies. READ MORE - [July 2021 Market Update](https://www.investdavenport.com/davenport-asset-management/marketupdates/market-update/) - [Recent Tax Law Changes Affecting Charitable Giving](https://www.investdavenport.com/davenport-asset-management/marketupdates/recent-tax-law-changes-affecting-charitable-giving/) - May 2021 “The Current State of Philanthropy” is a three part series by guest speaker Michele A. W. McKinnon of McGuireWoods. In part two of the series, “Recent Tax Law Changes Affecting Charitable Giving”, Michele discusses recent changes to tax law and the consequences for charitable giving.WATCH THE VIDEO - [Planned Giving Techniques](https://www.investdavenport.com/davenport-asset-management/marketupdates/planned-giving-techniques/) - May 2021 “The Current State of Philanthropy” is a three part series by guest speaker Michele A. W. McKinnon of McGuireWoods. In part three of the series, “Planned Giving Techniques”, Michele discusses some attractive strategies for giving in the current environment.WATCH THE VIDEO - [Charitable Giving in the US & Donor Motivation](https://www.investdavenport.com/davenport-asset-management/marketupdates/charitable-giving-in-the-us-donor-motivation/) - May 2021 “The Current State of Philanthropy” is a three part series by guest speaker Michele A. W. McKinnon of McGuireWoods. In part one of the series, “Charitable Giving in the US & Donor Motivation”, Michele dives into the current state of giving in the United States and what motivates donors to give.WATCH THE VIDEO - [Nonprofit Governance: Getting to Great](https://www.investdavenport.com/davenport-asset-management/marketupdates/nonprofit-governance-getting-to-great/) - April 2021 As a follow up to a webinar in January we hosted titled “Thriving Nonprofit Boards”, Katherine Whitney of Warren Whitney put together a related report titled “Nonprofit Governance: Getting to Great”. This piece has tips on improving your nonprofit board and includes a self-evaluation checklist. READ MORE - [Media Replay with John Diehl of Hartford Funds](https://www.investdavenport.com/davenport-asset-management/marketupdates/media-replay-with-john-diehl-of-hartford-funds/) - February 17, 2021 As a part of Davenport Asset Management’s Virtual Investor Summit Series, John Diehl of Hartford Funds recently spoke over Zoom to discuss “How to Help Clients Make Rational Decisions When it Feels Like the World is Falling Apart”. WATCH THE VIDEO - [Strategic Asset Allocation Committee Report](https://www.investdavenport.com/davenport-asset-management/marketupdates/strategic-asset-allocation-committee-report/) - Spring 2021 The Spring 2021 Report from our Strategic Asset Allocation Committee is now available. Read on for the Committee’s thoughts on the market and recommended asset classes. READ MORE - [Thoughts as Markets March Higher](https://www.investdavenport.com/davenport-asset-management/marketupdates/thoughts-as-markets-march-higher/) - February 16, 2021 GameStop, Reddit rebels, short squeezes, SPACs, Bitcoin, Tesla… there’s certainly no shortage of action in the market. However, there may be reason for pause as risk taking continues to find new frontiers. Read on for an analysis from George Smith, Chairman of the Investment Policy Committee (IPC).READ MORE - [Thriving Nonprofit Boards](https://www.investdavenport.com/davenport-asset-management/marketupdates/thriving-nonprofit-boards/) - January 2021 As a part of Davenport Asset Management’s Virtual Investor Summit Series, Katherine Whitney of Warren Whitney and David Charlton, Ed.D of the Church Schools in the Diocese of Virginia recently spoke over Zoom to address the question “How do you know your nonprofit board is good?”.WATCH THE VIDEO - [The Year in Review: An Update from John Ackerly](https://www.investdavenport.com/davenport-asset-management/marketupdates/the-year-in-review-an-update-from-john-ackerly/) - January 2021 Great news! 2020 is over and we have exciting plans for 2021. Read on for a department update from John Ackerly, Director of Davenport Asset Management.READ MORE ## Quarterly Updates - [2026 Q2 Update](https://www.investdavenport.com/davenport-asset-management/quarterly-updates/2026-q2-update/) - Equity indices posted exceptional gains in the second quarter. Negative investor sentiment at the end of Q1 planted the seeds for outsized returns as the market backdrop improved. Corporate earnings were generally encouraging, conflict with Iran eased from a boil to a simmer, and investor fixation on artificial intelligence (AI) infrastructure reached a fevered pitch. - [2026 Q1 Update](https://www.investdavenport.com/davenport-asset-management/quarterly-updates/2026-q1-update/) - It’s hard to write a letter these days. Any attempt to prepare thoughts in advance risks quickly being obsolesced (we hope this letter is still relevant when you read it!). Topsy-turvy is the best way to describe the first quarter of 2026. The year started on a decent note with gains in January. However, renewed - [2025 Q4 Update](https://www.investdavenport.com/davenport-asset-management/quarterly-updates/2025-q4-update/) - This past year brought a dizzying series of events. We had DOGE, tariffs, the Middle East, the “Big Beautiful Bill”, the Fed and all things artificial intelligence (AI) give way to a dramatic swoon and even more dramatic recovery (oh and don’t forget a government shutdown that markets largely ignored). In fact, it’s truly hard - [2025 Q2 Update](https://www.investdavenport.com/davenport-asset-management/quarterly-updates/2025-q2-update/) - What a difference a couple months makes! Markets managed a remarkable comeback in the second quarter. While the S&P 500® Index’s 10.9% return for the quarter is very impressive, even more notable is its stunning 24% rally since the closing low on April 8th. The S&P is now up 6.2% year-to-date, which is probably hard - [2025 Q3 Update](https://www.investdavenport.com/davenport-asset-management/quarterly-updates/2025-q3-update/) - Market indices continued to charge higher in the third quarter. After a stunning recovery from tariff-induced hysteria in Q2, stocks added to their gains in impressive fashion. The S&P 500® Index and Russell 2000® Index advanced 8.1% and 12.4%. Year-to-date, the indices finished the quarter up 14.8% and 10.4%, respectively. Recall, the S&P and Russell - [2025 Q1 Update](https://www.investdavenport.com/davenport-asset-management/quarterly-updates/2025-q1-update/) - The first quarter was very eventful and brought a change of tone to markets. We started the year on a decent foot, but stocks weakened in mid-February amid political and economic uncertainty. While the S&P 500® Index finished the quarter down only 4.3% year-to-date (worst start to a year since 2020), other indices were worse as - [2024 Q4 Update](https://www.investdavenport.com/davenport-asset-management/quarterly-updates/2024-q4-update/) - Let’s start by acknowledging that 2024 was a remarkable year for equity markets. The S&P 500® Index rallied 25.0% and posted its second consecutive year of 20%+ gains. We witnessed one major stumble in the summer and markets closed the year with a bit of a whimper, but the overall outcome was quite impressive. This - [2024 Q3 Update](https://www.investdavenport.com/davenport-asset-management/quarterly-updates/2024-q3-update/) - The third quarter brought more gains to equity investors. The S&P 500® Index returned 5.9% and the Russell 2000® Index advanced 9.3%. Notably, gains broadened to corners of the market other than large cap technology stocks. Year-to-date returns are somewhat staggering in light of persistent calls for economic weakness and market malaise. Incredibly, both the - [2024 Q2 Update](https://www.investdavenport.com/davenport-asset-management/quarterly-updates/2024-q2-update/) - We are halfway through 2024. So far, results for equity markets have been mixed and the lead stories have been the Federal Reserve, artificial intelligence (AI) and “narrow” returns. Many large cap technology leaders have produced stellar returns while other areas of the market have languished a bit. The S&P 500® Index is up an - [2024 Q1 Update](https://www.investdavenport.com/davenport-asset-management/quarterly-updates/2024-q1-update/) - Equity markets continued to be kind to investors as we started 2024. Resilient economic growth and reassuring corporate earnings allowed stocks to build upon last year’s gains. Growth-oriented stocks continued to outperform, although market gains were fairly broad. For the first quarter, the S&P 500® Index gained 10.6% to record highs and the Russell 2000® - [2023 Q4 Update](https://www.investdavenport.com/davenport-asset-management/quarterly-updates/2023-q4-update/) - Equity markets generated surprisingly robust returns in 2023. The S&P 500® Index gained 26.3% for the year and the Russell 2000® Index returned 16.9%. Much of the gains were fueled by a feverish late-year rally. For the fourth quarter alone, the S&P and Russell returned 11.7% and 14.0%, respectively. As you may recall, we came - [2023 Q3 Update](https://www.investdavenport.com/davenport-asset-management/quarterly-updates/2023-q3-update/) - Stocks seemed to run out of gas in the third quarter. The S&P 500® Index and Russell 2000® Index lost 3.3% and 5.1%, respectively. Most of the losses were concentrated in September, which historically is the worst month of the year for stocks. It wasn’t surprising to see equity markets stall a bit, especially after - [2023 Q1 Update](https://www.investdavenport.com/davenport-asset-management/quarterly-updates/2023-q1-update/) - Stocks managed to perform surprisingly well in the first quarter despite the double whammy of hawkish talk from the Fed and turbulence in the banking system. However, it wasn’t always smooth sailing. In early February, the S&P 500® Index was up 9% and looked to be on its way to a swift recovery from 2022 - [2023 Q2 Update](https://www.investdavenport.com/davenport-asset-management/quarterly-updates/2023-q2-update/) - The year is halfway over and equity returns have probably surprised many investors. We came into 2023 with predictions for a recession and rampant negativity; yet, the major indices have managed to post impressive gains so far. For the second quarter, the S&P 500® Index and Russell 2000® Index advanced 8.7% and 5.2%, respectively, bringing - [2022 Q4 Update](https://www.investdavenport.com/davenport-asset-management/quarterly-updates/2022-q4-update/) - We doubt many investors will be very upset about waving goodbye to 2022. Indeed, it was a tough year for stocks as evidenced by declines of 18.1% and 20.4%, respectively, for the S&P 500® Index and Russell 2000® Index. The NASDAQ® Composite was even worse with a 32.5% swoon, and the top four technology companies - [2022 Q3 Update](https://www.investdavenport.com/davenport-asset-management/quarterly-updates/2022-q3-update/) - Market action was wild in the third quarter, which turned out to be a tale of two halves. We saw an impressive rally from July through mid-August that coincided with hopes of the Federal Reserve backing off restrictive monetary policy. Then, we witnessed a sharp reversal as discouraging inflation data prompted the Fed to become - [2022 Q2 Update](https://www.investdavenport.com/davenport-asset-management/quarterly-updates/2022-q2-update/) - Stocks were under significant pressure in the second quarter and officially entered bear market territory. The S&P 500® Index and Russell 2000® Index declined 16.1% and 17.2%, respectively, during the quarter and finished the period down 20.0% and 23.4% year-to-date. This is the S&P’s worst first half since 1970. Market conditions are clearly very different - [2022 Q1 Update](https://www.investdavenport.com/davenport-asset-management/quarterly-updates/2022-q1-update/) - The first quarter brought investors yet another curve ball with Russia’s invasion of Ukraine. This sent shockwaves through global markets and added to already notable inflation pressures, while also casting a new light on international investing. Meanwhile, the Federal Reserve raised interest rates as policymakers began to reign in monetary stimulus. Markets ultimately proved more - [2021 Q4 Update](https://www.investdavenport.com/davenport-asset-management/quarterly-updates/2021-q4-update/) - Another year is in the books and what a wild year it was. Indeed, 2021 was quite an encore for 2020. We had a riot at the Capitol, vaccine introduction, economic “re-opening”, meme stock rally, the SPAC craze, supply chain snarls, widespread inflationary pressures, the Delta variant and more recently the Omicron variant. Many, including - [2021 Q3 Update](https://www.investdavenport.com/davenport-asset-management/quarterly-updates/2021-q3-update/) - We are three-quarters of the way through 2021, and stocks are holding onto meaningful gains. As of September 30, the S&P 500® Index was up 15.9% year-to-date while the Russell 2000® Index had gained 12.4%. The third quarter itself was a bit more subdued, with the S&P up 0.6% and Russell down 4.4%. We were - [2021 Q2 Update](https://www.investdavenport.com/davenport-asset-management/quarterly-updates/2021-q2-update/) - Equity markets remained strong in the second quarter with the S&P 500® Index and the Russell 2000® Index gaining 8.6% and 4.3%, respectively. Year-to-date, the S&P and Russell finished the quarter up 15.3% and 17.5%, respectively. Most Americans are vaccinated, the economic recovery from COVID has been in full swing and corporate earnings have generally - [2021 Q1 Update](https://www.investdavenport.com/davenport-asset-management/quarterly-updates/2021-q1-update/) - Equity markets continued their remarkable run in the first quarter as risk taking was in full swing. The S&P 500® Index and Russell 2000® Index gained 6.2% and 12.7%, respectively. It’s hard to fathom how far we’ve come since early last year when COVID fears gripped the globe, businesses were shutting down and markets were - [2020 Q4 Update](https://www.investdavenport.com/davenport-asset-management/quarterly-updates/2020-q4-update/) - Equity markets capped off a bizarre and turbulent year with a stunning fourth quarter rally. The S&P 500® Index gained 12.2% while the Russell 2000® Index was up an astonishing 31.4%. Election fears quickly became a distant memory in November and gave way to a buying stampede that went into high gear alongside the unveiling - [2020 Q3 Update](https://www.investdavenport.com/davenport-asset-management/quarterly-updates/2020-q3-update/) - Equity markets continued their strong positive performance off the March lows in the third quarter. Despite a modest selloff in September, the S&P 500® Index gained 8.9% in the third quarter. Combined with Q2’s 20.5% gain, it was the best two-quarter stretch for large cap stocks since 2009, when markets were recovering from the financial - [2020 Q2 Update](https://www.investdavenport.com/davenport-asset-management/quarterly-updates/2020-q2-update/) - Equity markets find themselves in a much different place than a quarter ago. When we penned our first quarter update, coronavirus fears gripped financial markets around the world and stocks had retreated sharply from their highs. Since then, we’ve witnessed an astounding recovery for equities. In the second quarter, the S&P 500® gained 20.5% (its best - [2020 Q1 Update](https://www.investdavenport.com/davenport-asset-management/quarterly-updates/2020-q1-update/) - These are frightening and unusual times. Economies, financial markets, and people around the world are gripped with coronavirus fears. We’ve gone from a buoyant economy that was supported by a very healthy consumer to a full-blown crisis. The S&P 500® Index declined 19.6% in the first quarter and experienced the fastest move into bear market - [2019 Q4 Update](https://www.investdavenport.com/davenport-asset-management/quarterly-updates/2019-q4-update/) - 2019 was an extraordinary year for equity investors. The S&P 500® Index surged a whopping 31.5% while the Russell 2000® Index advanced 30.6%. For the fourth quarter, the S&P 500 and Russell 2000 gained 9.1% and 7.1%, respectively. Such impressive performance represented a sharp turnaround from year-end 2018, when markets retreated alongside fears of tighter - [2019 Q3 Update](https://www.investdavenport.com/davenport-asset-management/quarterly-updates/2019-q3-update/) - Equity investors experienced a wild ride in the third quarter. After a solid start in July, we witnessed a sharp swoon in August as trade tensions again took center stage. The S&P 500® Index posted declines of nearly 3% on August 5th and August 14th as volatility surged. Fortunately, the damage was mitigated by a - [2019 Q2 Update](https://www.investdavenport.com/davenport-asset-management/quarterly-updates/2019-q2-update/) - Stocks continued their hot streak in the second quarter. The S&P 500 Index advanced 4.3% while the Russell 2000 Index gained 2.1%. Year-to-date, the S&P 500 Index and the Russell 2000 Index have posted total returns of 18.5% and 17.0%, respectively. Interestingly, the S&P 500 Index had its best first half of a year since - [2019 Q1 Update](https://www.investdavenport.com/davenport-asset-management/quarterly-updates/2019-q1-update/) - Equities surged higher to start 2019. The S&P 500 Index gained 13.7% while the Russell 2000 Index was up 14.6%. Of note, this was the best quarter for the S&P 500 Index since 2009 and the best first quarter since 1998. Clearly, this advance represented a dramatic turn of events from Q4 2018, when stocks - [2018 Q4 Update](https://www.investdavenport.com/davenport-asset-management/quarterly-updates/2018-q4-update/) - 2018 brought investors a number of twists and turns. In the end, the S&P 500 Index finished the year down 4.4%. This was the first down year for the S&P since the sharp swoon we experienced in 2008. Losses were concentrated in the fourth quarter, when the Index dropped 13.5% and experienced its worst December - [2018 Q3 Update](https://www.investdavenport.com/davenport-asset-management/quarterly-updates/2018-q3-update/) - Equity markets enjoyed surprisingly strong returns in the third quarter. The S&P 500 Index gained 7.7% and posted its best quarter in nearly five years. Year-to-date the S&P 500 Index finished the quarter up 10.6%. On another bullish note, the Nasdaq Composite Index gained 7.4% and was up for the ninth consecutive quarter. - [2018 Q2 Update](https://www.investdavenport.com/davenport-asset-management/quarterly-updates/2018-q2-update/) - Equity markets picked up steam in the second quarter. Volatility cooled following a first quarter spike and investors were generally encouraged by economic data and corporate earnings reports. The S&P 500 Index gained 3.4% while the small cap-oriented Russell 2000 Index advanced an impressive 7.8%. Year-to-date, the S&P and Russell finished the quarter up 2.7% - [2018 Q1 Update](https://www.investdavenport.com/davenport-asset-management/quarterly-updates/2018-q1-update/) - The first quarter brought some long overdue volatility to equity markets. Indeed, the S&P 500 Index’s relatively modest decline of 0.8% belies the underlying tumult during the quarter. Markets started the year where they left off in 2017, with the S&P 500 Index gaining 5.7% in January and cruising to new all-time highs. However, things - [2017 Q4 Update](https://www.investdavenport.com/davenport-asset-management/quarterly-updates/2017-q4-update/) - The current bull market completed its ninth year with astonishing gains. The S&P 500 Index gained 21.8% while the Russell 2000 Index advanced 14.7%. The Nasdaq was even more impressive, setting a record 72 new closing highs during the year and finishing with a 29.6% gain. In addition, the rally was largely uninterrupted and characterized - [2017 Q3 Update](https://www.investdavenport.com/davenport-asset-management/quarterly-updates/2017-q3-update/) - The market posted another quarter of solid gains, with the S&P 500 Index up 4.5% and the Russell 2000® Index advancing 5.7%. Year-to-date returns are an impressive 14.2% and 10.9% respectively. The Dow Jones Industrial Average finished the quarter with eight consecutive quarters of gains, its longest positive streak in 20 years. - [2017 Q2 Update](https://www.investdavenport.com/davenport-asset-management/quarterly-updates/2017-q2-update/) - Equities added to their gains in the second quarter. The S&P 500 Index advanced 3.1%, bringing its year-to-date gain to 9.3%. Solid corporate earnings reports seemed to support gains. In fact, first quarter earnings growth for the S&P 500 was the highest in six years. This supported the thesis we espoused last quarter for a - [2017 Q1 Update](https://www.investdavenport.com/davenport-asset-management/quarterly-updates/2017-q1-update/) - After a strong finish in 2016, stocks continued to march higher in the first quarter of 2017. The S&P 500 Index finished up 6.1% in the first three months of the year, surpassing other domestic indices (the Russell 2000 Index gained 2.5% during the quarter). - [2016 Q4 Update](https://www.investdavenport.com/davenport-asset-management/quarterly-updates/2016-q4-update/) - [2016 Q3 Update](https://www.investdavenport.com/davenport-asset-management/quarterly-updates/2016-q3-update/) - [2016 Q2 Update](https://www.investdavenport.com/davenport-asset-management/quarterly-updates/2016-q2-update/) - [2016 Q1 Update](https://www.investdavenport.com/davenport-asset-management/quarterly-updates/2016-q1-update/) ## Insights - [The Value vs. Growth Debate](https://www.investdavenport.com/davenport-asset-management/insights-on-investing/the-value-vs-growth-debate/) - After a decade of Growth outperformance, has Value Investing’s time finally arrived? Read on as we take a look at historical data and analyze the Value vs. Growth debate. - [Strategic Asset Allocation Committee Report](https://www.investdavenport.com/davenport-asset-management/insights-on-investing/strategic-asset-allocation-committee-report/) - The Summer 2020 Report from our Strategic Asset Allocation Committee is now available. Read how we look past the current crisis and determine what investment strategies could work well over the longer term. - [Staying Disciplined Amid Uncertainty](https://www.investdavenport.com/davenport-asset-management/insights-on-investing/staying-disciplined-amid-uncertainty/) - How has Davenport Asset Management’s research process adapted, and how has it stayed the same amid the COVID-19 pandemic? Find out in this new interview with Chris Pearson, Portfolio Manager and member of the Investment Policy Committee (IPC). - [Value & Income Portfolio Q&A](https://www.investdavenport.com/davenport-asset-management/insights-on-investing/value-income-portfolio-qa/) - Read this new Q&A on the Davenport Value & Income Portfolio, where Investment Policy Committee members Mike Beall and George Smith discuss their approach during the pandemic, value vs. growth, the importance of dividends, and more. - [Where Are We Now](https://www.investdavenport.com/davenport-asset-management/insights-on-investing/where-we-are-now/) - Although the “Great Lockdown” continues, much has changed in equity markets since our last missive. Read our latest commentary. - [An Update From John Ackerly](https://www.investdavenport.com/davenport-asset-management/insights-on-investing/an-update-from-john-ackerly/) - Read on for the latest update from John Ackerly, Director of Davenport Asset Management. - [What We Are Thinking and Doing](https://www.investdavenport.com/davenport-asset-management/insights-on-investing/what-we-are-thinking-and-doing/) - The economic fallout from coronavirus will be massive and there’s no sugarcoating the situation. Continue reading to find out what we are thinking and doing about it. - [Comments on Markets and the COVID-19 Pandemic](https://www.investdavenport.com/davenport-asset-management/insights-on-investing/comments-on-markets-and-the-covid-19-pandemic/) - The current economic, financial market and public health situation is unprecedented. Continue reading for Davenport Asset Management’s latest comments on markets and the COVID-19 pandemic. - [Comments on Recent Market Volatility](https://www.investdavenport.com/davenport-asset-management/insights-on-investing/comments-on-recent-market-volatility/) - In light of recent market volatility, we felt it appropriate to provide some commentary regarding Davenport Asset Management’s perspective on recent events and market activity. - [Fixed Income Q&A: Navigating Negative Yields](https://www.investdavenport.com/davenport-asset-management/insights-on-investing/fixed-income-qa-navigating-negative-yields/) - We are navigating an unprecedented global rate environment. This September, we have witnessed new lows in bond yields after experiencing all-time lows in 2016. Negative yielding bonds now make up more than 30% of the Bloomberg Barclay’s Global Aggregate Index and there are more than $14.5 trillion in sovereign bonds outstanding with negative yields. - ["Three C's" of Small Cap](https://www.investdavenport.com/davenport-asset-management/insights-on-investing/three-cs-of-small-cap/) - In our Davenport Small Cap Focus Fund (DSCPX) we aim to identify profitable, defensible businesses with long runways for growth — investing alongside talented management teams who employ an “owner-operator” mentality and have considerable “skin in the game” with a proven track record of enhancing shareholder value.We prefer to identify companies in the early stages - [Navigating Negativity for Long Term Goals](https://www.investdavenport.com/davenport-asset-management/insights-on-investing/navigating-negativity-for-long-term-goals/) - In modern daily life we are continuously bombarded by negative headlines. In the era of the 24-hour news cycle it is important to stay focused on the big picture and keep in mind our investment goals. The included chart shows the perils of letting negative headlines have too much sway over the long term investor. - [Market Perspectives: "Brexit"](https://www.investdavenport.com/davenport-asset-management/insights-on-investing/market-perspectives-brexit/) - The U.K.'s exit looks to be a lengthy and complicated process that may result in less change than people expect - [The Case for More Moderate Returns](https://www.investdavenport.com/davenport-asset-management/insights-on-investing/the-case-for-more-moderate-returns/) - George Smith discusses The Case for More Moderate Returns. - [Value & Income Portfolio: Above Average Returns, Below Average Risk](https://www.investdavenport.com/davenport-asset-management/insights-on-investing/value-income-portfolio-above-average-returns-below-average-risk/) - Since inception the Davenport Value & Income Portfolio has strived to deliver superior returns against its benchmark and peers while taking on less risk. We seek to own stocks with attractive upside accompanied with below average company risk and balance sheet risk. Our focus on strong and growing dividends also augments returns while dampening portfolio - [Value Is In the Eye of the Beholder](https://www.investdavenport.com/davenport-asset-management/insights-on-investing/value-is-in-the-eye-of-the-beholder/) - The numbers are staggering. Value investing has underperformed growth investing by a wide margin in recent years. This trend has continued with vigor thus far in 2018. Portfolio Manager, George Smith, weighs in on the potential in value investing. - [Investing in Pets](https://www.investdavenport.com/davenport-asset-management/insights-on-investing/investing-in-pets/) - Chris Pearson, Portfolio Manager, explains how the "humanization of pets" has had an effect on investment strategies. - [Analyst Q&A: Sector Spotlight on E-commerce](https://www.investdavenport.com/davenport-asset-management/insights-on-investing/analyst-qa-sector-spotlight-on-e-commerce/) - Equity Research Analyst, Jeff Omohundro, gives his thoughts on e-commerce. - [Analyst Q&A: Sector Spotlight on Health Care](https://www.investdavenport.com/davenport-asset-management/insights-on-investing/analyst-qa-sector-spotlight-on-health-care/) - Davenport's Director of Equity Research, Joel Ray, gives his thoughts on the Health Care sector. - [Davenport Asset Management Investor Summit](https://www.investdavenport.com/davenport-asset-management/insights-on-investing/davenport-asset-management-investor-summit/) - Davenport Asset Management's Investor Summit focused primarily on demographics and trends impacting our lives and investment, with a special emphasis on Millenials. - [Manager Q&A: International Investing–Why Now?](https://www.investdavenport.com/davenport-asset-management/insights-on-investing/manager-qa-international-investing-why-now/) - Manager Research Director Geoffrey Sulanke gives his thoughts on international investing. - [Analyst Q&A: The Bullish Case for Housing](https://www.investdavenport.com/davenport-asset-management/insights-on-investing/analyst-qa-the-bullish-case-for-housing/) - Davenport Asset Management Research Analyst Kevin Bennett gives his thoughts on the housing industry. - [Portfolio Insights: Value & Income](https://www.investdavenport.com/davenport-asset-management/insights-on-investing/portfolio-insights-value-income/) - George Smith discusses the importance of Investment Flexibility within the Value & Income Portfolio - [Market Perspectives: Thoughts on the Election](https://www.investdavenport.com/davenport-asset-management/insights-on-investing/market-perspectives-thoughts-on-the-election/) - With the Presidential election quickly approaching, negative rhetoric is likely to increase between now and November. We have found the benefit of ‘Time IN the Market’ far outweighs ‘Timing the Market’ based on such events. - [Johnson & Johnson is Cradle to Grave](https://www.investdavenport.com/davenport-asset-management/insights-on-investing/johnson-johnson-is-cradle-to-grave/) - Mike Beall gives a 50-year recap of this Legacy Investment and explains why it is a Core Holding in more than one of our portfolios - [Value Traps](https://www.investdavenport.com/davenport-asset-management/insights-on-investing/value-traps/) - Mike Beall identifies factors used to differentiate ‘Value Situations’ from ‘Value Traps’ - [Ownership Cultures](https://www.investdavenport.com/davenport-asset-management/insights-on-investing/ownership-cultures/) - Aligning Management Teams with Shareholders for Long-Term Success ## Fund Perspectives - [With Rates on the Rise, Can Your Balanced Fund Keep Up?](https://www.investdavenport.com/davenport-asset-management/fund-perspectives/with-rates-on-the-rise-can-your-balanced-fund-keep-up/) - [Are Small Caps Poised for Bigger Returns?](https://www.investdavenport.com/davenport-asset-management/fund-perspectives/are-small-caps-poised-for-bigger-returns/) ## News - [DEOPX & DVIPX: These Benchmark-Beating Davenport Funds Are Celebrating 10-Years](https://www.investdavenport.com/davenport-asset-management/news/deopx-dvipx-these-benchmark-beating-davenport-funds-are-celebrating-10-years/) - Davenport Asset Management | December 2020 Benchmark-beating performance over the long-term – that’s the legacy of our Equity Opportunities and Value & Income Funds. Read on as we analyze the 10-year track records of these two Davenport Funds. - [Virtual Investor Summit Series](https://www.investdavenport.com/davenport-asset-management/news/virtual-investor-summit-series/) - Davenport Asset Management | February 2021 Join us Feb 17th for a live Zoom presentation as John Diehl helps us look past the media’s “crisis du jour” to become more disciplined investors. John is a Managing Director with Hartford Funds and oversees their Applied Insights group. - [This Fund Doesn't Need Tech Stocks to Stay On Top](https://www.investdavenport.com/davenport-asset-management/news/this-fund-doesnt-need-tech-stocks-to-stay-on-top/) - Barron's | February 2021 Read this Barron's interview with George Smith and Chris Pearson, Co-Managers of the Davenport Small Cap Focus Fund. - [Davenport Small Cap Focus (DSCPX) Clobbers the Broader Market](https://www.investdavenport.com/davenport-asset-management/news/davenport-small-cap-focus-dscpx-clobbers-the-broader-market/) - Kiplinger | December 2020 Read this profile on DSCPX from Kiplinger. - [Morningstar Analyst Take on DEOPX](https://www.investdavenport.com/davenport-asset-management/news/morningstar-analyst-take-on-deopx/) - Morningstar | December 2020 The Davenport Equity Opportunities Fund (DEOPX) was profiled by Morningstar in this recent Analyst Take. Read on for their thoughts on the Fund, as well as comments on our firm history and culture. - [Selected Large Cap Core Funds](https://www.investdavenport.com/davenport-asset-management/news/selected-large-cap-core-funds/) - Davenport's Core Portfolio (DAVPX) recogized as a selected S&P Capital IQ large-cap core manager - [Creating Value with Concentration and Flexibility](https://www.investdavenport.com/davenport-asset-management/news/creating-value-with-concentration-and-flexibility/) - George Smith and Chris Pearson, portfolio managers of the Davenport Equity Opportunities Fund, discuss their approach to investing. - [Active Funds that Work](https://www.investdavenport.com/davenport-asset-management/news/active-funds-that-work/) - Personal finance journal, Kiplinger's, recognizes Davenport Equity Opportuties (DEOPX) as one of a select few managers that outperformed in 2014. - [Looming Fed Discussion on Interest Rates](https://www.investdavenport.com/davenport-asset-management/news/looming-fed-discussion-on-interest-rates/) - George Smith, Asset Management, discusses looming fed interest rate decision. - [Category Kings in 10 Realms](https://www.investdavenport.com/davenport-asset-management/news/category-kings-in-10-realms/) - Davenport Small Cap Focus Fund (DSCPX) and Davenport Equity Opportunities Fund (DEOPX) were listed as top performing funds in the Wall Street Journal. - [Money Manager Interview](https://www.investdavenport.com/davenport-asset-management/news/money-manager-interview/) - Mike Beall and George Smith, Davenport Asset Management, discuss growing capital over time with less risk than the overall market. - [Seeking Companies That Thrive by Raising Prices](https://www.investdavenport.com/davenport-asset-management/news/seeking-companies-that-thrive-by-raising-prices/) - George Smith and Chris Pearson of Davenport Asset Management were interviewed on the philosophy and methodology they bring to managing the Davenport Equity Opportunities Fund (DEOPX). - [Davenport & Co.'s Small-Cap Focus Fund Marks Five-Year Run with High Returns on Low Risk Profile](https://www.investdavenport.com/davenport-asset-management/news/davenport-co-s-small-cap-focus-fund-marks-five-year-run-with-high-returns-on-low-risk-profile/) - George Smith and Chris Pearson of Davenport Asset Management discuss the five-year anniversary of the Davenport Small Cap Focus Fund (DSCPX). - [Investment Policy Committee Update](https://www.investdavenport.com/davenport-asset-management/news/investment-policy-committee-update/) - Effective July 1, 2020, George Smith will become Chairman of the IPC. ## Press Releases - [Davenport Small Cap Focus Fund Earns 4 Star Rating from Morningstar](https://www.investdavenport.com/davenport-asset-management/press-releases/davenport-small-cap-focus-fund-earns-4-star-rating-from-morningstar/) - On Dec. 31, 2017 the Small Cap Focus Fund (DSCPX) celebrated its 3-year anniversary and earned a 4 Star Rating from Morningstar. - [Davenport Asset Management Grows External Distribution Team](https://www.investdavenport.com/davenport-asset-management/press-releases/davenport-asset-management-grows-external-distribution-team/) - J. Charlie Brennan, Jr. and Dara B. Day join the Asset Management group, enhancing third-party sales of the Davenport Funds - [Introduction of New Balanced Income Fund](https://www.investdavenport.com/davenport-asset-management/press-releases/introduction-of-new-balanced-income-fund/) - New fund seeking balance between current income and long-term moderate capital appreciation - [Significant Milestones for Davenport Funds](https://www.investdavenport.com/davenport-asset-management/press-releases/significant-milestones-for-davenport-funds/) - Equity Opportunities and Value & Income Funds Celebrate 5-Year Anniversary; Small-Cap Fund Celebrates 1-Year Anniversary ## Team Members - DAM - [Erin Babashak](https://www.investdavenport.com/davenport-asset-management/team/erin-babashak/) - Experience In the Industry since 2024 With Davenport & Company since 2024 Education BS, Psychology, James Madison University - [Evan Gilbert, CFA](https://www.investdavenport.com/davenport-asset-management/team/evan-gilbert/) - Experience In the Industry since 2018 With Davenport & Company since 2018 Education BA, Economics and Business, Virginia Military Institute Chartered Financial Analyst® - [Justin Charnock](https://www.investdavenport.com/davenport-asset-management/team/justin-charnock/) - Experience In the Industry since 2015 With Davenport & Company since 2022 Education BS, Psychology, Virginia Polytechnic Institute and State University - [Destiny Cejka](https://www.investdavenport.com/davenport-asset-management/team/destiny-cejka/) - Experience In the Industry since 2022 With Davenport & Company since 2022 Education BFA, Media Arts & Animation, Art Institute of Washington - [Emily LaVay](https://www.investdavenport.com/davenport-asset-management/team/emily-lavay/) - Experience In the Industry since 2023 With Davenport & Company since 2023 Education BA, Art History, Columbia University MA, Art History, Courtauld Institute of Art MA, Art History Curatorship & Renaissance Culture, Warburg Institute - [Joel Ray, CFA](https://www.investdavenport.com/davenport-asset-management/team/ray/) - Experience In the Industry since 1981 With Davenport & Company since 2004 Education BA, Biology, Colgate University MBA, Health Care Management, Cornell University Chartered Financial Analyst® - [Laura Sturgill](https://www.investdavenport.com/davenport-asset-management/team/laura-gottschalk/) - Experience In the Industry since 2019 With Davenport & Company since 2019 Education BFA, Longwood University - [Patrick Slack](https://www.investdavenport.com/davenport-asset-management/team/slack/) - Experience In the Industry since 1996 With Davenport & Company since 2014 Education BA, English, Roanoke College - [Amanda Meeker](https://www.investdavenport.com/davenport-asset-management/team/amanda-meeker/) - Experience In the Industry since 2025 With Davenport & Company since 2025 Education BS, Finance, Wake Forest University - [Geoffrey Glisson](https://www.investdavenport.com/davenport-asset-management/team/geoff-glisson/) - Experience In the Industry since 2019 With Davenport & Company since 2019 Education BFA, Maryland Institute College of Art - [Jack Westfall](https://www.investdavenport.com/davenport-asset-management/team/jack-westfall/) - Experience In the Industry since 2023 With Davenport & Company since 2023 Education BA, Sewanee – University of the South - [Taylor Walker](https://www.investdavenport.com/davenport-asset-management/team/taylor-walker/) - Experience In the Industry since 2023 With Davenport & Company since 2023 Education BS, Economics with a concentration in Business Administration, Christopher Newport University - [Jerrell Smith](https://www.investdavenport.com/davenport-asset-management/team/jerrell-smith/) - Experience In the Industry since 2011 With Davenport & Company since 2022 - [William Sharp](https://www.investdavenport.com/davenport-asset-management/team/william-sharp/) - Experience In the Industry since 2001 With Davenport & Company since 2021 Education BS, Business Administration, Virginia Commonwealth University - [Tim Reyes](https://www.investdavenport.com/davenport-asset-management/team/tim-reyes/) - Experience In the Industry since 2009 With Davenport & Company since 2023 Education BA, Economics, Virginia Polytechnic Institute and State University - [Julie Preston](https://www.investdavenport.com/davenport-asset-management/team/preston/) - Experience In the Industry since 1994 With Davenport & Company since 2008 Education BS, Finance, University of Florida - [Rud Moore](https://www.investdavenport.com/davenport-asset-management/team/moore/) - Experience In the Industry since 1989 With Davenport & Company since 1998 Education BS, Business Administration, Washington & Lee University - [Tiffany Long](https://www.investdavenport.com/davenport-asset-management/team/tiffany-long/) - Experience In the Industry since 2007 With Davenport since 2007 - [Amanda St. John](https://www.investdavenport.com/davenport-asset-management/team/st-john/) - Experience In the Industry since 2004 With Davenport & Company since 2006 Education BS, Animal Science, Virginia Polytechnic Institute and State University - [Rutherfoord Ferguson](https://www.investdavenport.com/davenport-asset-management/team/rutherfoord-ferguson/) - Experience In the Industry since 2000 With Davenport & Company since 2019 Education BA, History, Hampden-Sydney College - [Carly Carmichael](https://www.investdavenport.com/davenport-asset-management/team/carly-carmichael/) - Experience In the Industry since 2014 With Davenport & Company since 2014 Education BS, International Business & Management & Spanish, Dickinson College MBA, Universidad de Málaga - [Harry Yates, CFA](https://www.investdavenport.com/davenport-asset-management/team/yates/) - Experience In the Industry since 2014 With Davenport & Company since 2014 Education BS, Finance, University of South Carolina Chartered Financial Analyst® - [Brian Ward, CFA](https://www.investdavenport.com/davenport-asset-management/team/brian-ward/) - Experience In the Industry since 2012 With Davenport & Company since 2012 Education BS, Business, Virginia Polytechnic Institute & State University Chartered Financial Analyst® - [Julian Hillery, CFA](https://www.investdavenport.com/davenport-asset-management/team/hillary/) - Experience In the Industry since 2004 With Davenport & Company since 2014 (and 2004-2007) Education BS, Accounting, University of Richmond Chartered Financial Analyst® - [Matt Henderson](https://www.investdavenport.com/davenport-asset-management/team/henderson/) - Experience In the Industry since 2000 With Davenport & Company since 2000 Education BS, Finance, Virginia Commonwealth University - [Will Halladay, CFA](https://www.investdavenport.com/davenport-asset-management/team/will-halladay-cfa/) - Experience In the Industry since 2018 With Davenport & Company since 2022 Education BA, Economics, Foreign Affairs; The University of Virginia Chartered Financial Analyst® - [Kevin C. Bennett, CFA](https://www.investdavenport.com/davenport-asset-management/team/kevin-bennett/) - Co-Manager Insider Buying Fund Experience In the Industry since 2007 With Davenport & Company since 2016 (and from 2007-2011) Education BS, Business, Virginia Polytechnic Institute & State University Chartered Financial Analyst® - [Geoffrey Sulanke, CFA](https://www.investdavenport.com/davenport-asset-management/team/sulanke/) - Experience In the Industry since 2004 With Davenport & Company since 2004 Education BS, Biology, James Madison University MBA, College of William & Mary Chartered Financial Analyst® - [George Smith, CFA](https://www.investdavenport.com/davenport-asset-management/team/smith/) - Co-Manager Core Leaders Portfolio Value & Income Portfolio Equity Opportunities Portfolio Small Cap Focus Fund Balanced Fund Experience In the Industry since 1997 With Davenport & Company since 1997 Education BS, Finance, University of Richmond Chartered Financial Analyst® - [Chris Pearson, CFA](https://www.investdavenport.com/davenport-asset-management/team/pearson/) - Co-Manager Core Leaders Portfolio Equity Opportunities Portfolio Small Cap Focus Fund Experience In the Industry since 2006 With Davenport & Company since 2006 Education BS, Business Administration with a Concentration in Finance, University of Richmond Chartered Financial Analyst® - [Jeff Omohundro, CFA](https://www.investdavenport.com/davenport-asset-management/team/omohundro/) - Co-Manager Core Leaders Portfolio Experience In the Industry since 1991 With Davenport & Company since 2012 Education BA, University of Virginia MBA, University of Virginia Chartered Financial Analyst® - [Kevin Hopkins Jr., CFA](https://www.investdavenport.com/davenport-asset-management/team/kevin-hopkins-cfa/) - Co-Manager Intermediate Duration Model Short Duration Model Bond ETF Model Intermediate Municipal Strategy (IMS) Balanced Fund Experience In the Industry since 2000 With Davenport & Company since 2019 Education BA, Political Science, Binghamton University MBA, Investments, University of Notre Dame Chartered Financial Analyst® - [Bob Giles](https://www.investdavenport.com/davenport-asset-management/team/giles/) - Experience In the Industry since 1967 With Davenport & Company since 1967 Education Attended University College of Richmond - [Will Cleland, CFP®](https://www.investdavenport.com/davenport-asset-management/team/cleland/) - Co-Manager Intermediate Duration Model Short Duration Model Bond ETF Model Intermediate Municipal Strategy (IMS) Balanced Fund Experience In the Industry since 2005 With Davenport & Company since 2005 Education BBA, Finance, Radford University CERTIFIED FINANCIAL PLANNER™ - [Trigg Brown](https://www.investdavenport.com/davenport-asset-management/team/brown/) - Experience In the Industry since 1977 With Davenport & Company since 1982 Education BA, Economics, University of Virginia - [Adam Bergman, CFA](https://www.investdavenport.com/davenport-asset-management/team/adam-bergman-cfa/) - Co-Manager Value & Income Portfolio Balanced Fund Insider Buying Fund Experience In the Industry since 1996 With Davenport & Company since 2022 Education BS, Commerce; The University of Virginia Chartered Financial Analyst® - [Mike Beall, CFA](https://www.investdavenport.com/davenport-asset-management/team/beall/) - Co-Manager Value & Income Portfolio Balanced Fund Experience In the Industry since 1980 With Davenport & Company since 1980 Education BA, Accounting, University of Virginia MS, Accounting, University of Virginia Chartered Financial Analyst® - [John Ackerly, CFA](https://www.investdavenport.com/davenport-asset-management/team/ackerly/) - Experience In the Industry since 1987 With Davenport & Company since 1994 Education BA, History, University of Virginia MBA, Virginia Commonwealth University Chartered Financial Analyst® - [Drake Johnstone](https://www.investdavenport.com/davenport-asset-management/team/johnstone/) - Experience In the Industry since 1998 With Davenport & Company since 1998 Education BS, Yale University MBA, University of Virginia - [Ann Gurkin](https://www.investdavenport.com/davenport-asset-management/team/gurkin/) - Experience In the Industry since 1990 With Davenport & Company since 1999 Education BS, English, Hollins University MBA, University of Richmond ## Advisor Website Master Pages - [About Davenport](https://www.investdavenport.com/advisor_master/about-davenport/) - DAVENPORT & COMPANY LLC Employee owned and headquartered in Richmond, Virginia, with offices throughout the mid-Atlantic, Davenport & Company offers a range of wealth management and financial advisory services, including traditional stock and bond brokerage, professional money management, financial and retirement planning, insurance, market research, and public finance.Since Davenport’s founding in 1863, the relationships we - [Qualifications](https://www.investdavenport.com/advisor_master/qualifications/) - [Market Commentary](https://www.investdavenport.com/advisor_master/market-commentary/) - [Resources](https://www.investdavenport.com/advisor_master/resources/) - [Contact](https://www.investdavenport.com/advisor_master/contact/) ## Resources Master Pages - [Davenport Multi-Asset Portfolios Quarterly Update](https://www.investdavenport.com/resources/davenport-multi-asset-portfolios-quarterly-update/) - 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Omohundro, CFA](https://www.investdavenport.com/firm-leadership/jeffrey-r-omohundro-cfa/) - Director, Equity Research - [Gil Lynch](https://www.investdavenport.com/firm-leadership/gil-lynch/) - Southwest Region: Abingdon, Danville, Greensboro, Marion, Roanoke Branch Manager: Abingdon, Marion & Roanoke - [Jim Shearin](https://www.investdavenport.com/firm-leadership/jim-shearin/) - Durham, Raleigh & Sanford - [Heather Hall](https://www.investdavenport.com/firm-leadership/heather-hall/) - East Region: Durham, Franklin, Kilmarnock, Newport News, Norfolk, Raleigh, Sanford, Suffolk, Virginia Beach, Williamsburg Branch Manager: Franklin, Newport News & Williamsburg - [Holly Crockett](https://www.investdavenport.com/firm-leadership/holly-crockett/) - Central Region: Farmville, Fredericksburg, Richmond Branch Manager: Richmond - [Shreve Rohle](https://www.investdavenport.com/firm-leadership/shreve-rohle/) - Northwest Region: Charlottesville, Harrisonburg, Lynchburg, Staunton Branch Manager: Charlottesville, Harrisonburg & Staunton - [William R. Barksdale IV](https://www.investdavenport.com/firm-leadership/william-r-barksdale-iv/) - Lynchburg - [Alison Crowder](https://www.investdavenport.com/firm-leadership/alison-crowder/) - Chief Compliance Officer, Investment Advisory - [Jonathan A. Stratton](https://www.investdavenport.com/firm-leadership/jonathan-a-stratton/) - Chief Compliance Officer, Broker-Dealer - [Maureen Gallihugh](https://www.investdavenport.com/firm-leadership/maureen-gallihugh/) - Managing Director, Financial Advisor - [Becky Maas](https://www.investdavenport.com/firm-leadership/becky-maas/) - Head of Equity Trading - [Stewart Emenheiser](https://www.investdavenport.com/firm-leadership/stewart-emenheiser/) - Fredericksburg - [William R. B. Hershey](https://www.investdavenport.com/firm-leadership/firm-leader-3/) - Chief Financial Officer - [Jon McElhaney, CFA](https://www.investdavenport.com/firm-leadership/firm-leader-4/) - Head of Wealth Management - [T. Winston Price](https://www.investdavenport.com/firm-leadership/t-winston-price/) - Managing Director, Financial Advisor - [Bradley L. 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Stuart Gregory](https://www.investdavenport.com/firm-leadership/k-stuart-gregory/) - Managing Director, Financial Advisor - [Geoffrey M. Glisson](https://www.investdavenport.com/firm-leadership/geoff-glisson/) - Marketing Manager - [Patrick T. Slack](https://www.investdavenport.com/firm-leadership/patrick-slack/) - Director, Institutional Relationships - [Christopher G. Pearson, CFA](https://www.investdavenport.com/firm-leadership/chris-pearson-cfa/) - Portfolio Manager & Research Analyst - [George L. Smith III, CFA](https://www.investdavenport.com/firm-leadership/george-l-smith-iii-cfa/) - Chair of Investment Policy Committee - [Geoffrey A. Sulanke, CFA](https://www.investdavenport.com/firm-leadership/geoffrey-a-sulanke-cfa/) - Director, Manager Research - [Joel M. Ray, CFA](https://www.investdavenport.com/firm-leadership/joel-m-ray-cfa/) - Co-Director, Equity Research - [David P. Rose](https://www.investdavenport.com/firm-leadership/david-p-rose/) - Co-Director, Public Finance - [Ted Cole](https://www.investdavenport.com/firm-leadership/ted-cole/) - Co-Director, Public Finance - [Frank Trice](https://www.investdavenport.com/firm-leadership/frank-trice/) - Director of Recruiting - [Thomas Cho](https://www.investdavenport.com/firm-leadership/thomas-cho/) - Kilmarnock - [Brad Watson](https://www.investdavenport.com/firm-leadership/brad-watson/) - Farmville - [John Piscitelli](https://www.investdavenport.com/firm-leadership/john-piscitelli/) - Virginia Beach - [Brenda O. Madden, SPHR, SHRM-SCP](https://www.investdavenport.com/firm-leadership/brenda-o-madden-sphr-shrm-scp/) - Human Resources Director - [Lucy W. Hooper](https://www.investdavenport.com/firm-leadership/lucy-w-hooper/) - Director, Fixed Income - [John P. Ackerly IV, CFA](https://www.investdavenport.com/firm-leadership/john-p-ackerly-iv-cfa/) - Director, Davenport Asset Management - [I. Lee Chapman IV](https://www.investdavenport.com/firm-leadership/test-leader-1/) - President & CEO - [Coleman Wortham III](https://www.investdavenport.com/firm-leadership/firm-leader-2/) - Chairman - [John Gammon](https://www.investdavenport.com/firm-leadership/john-gammon/) - Corporate Services Supervisor - [Theresa Manning](https://www.investdavenport.com/firm-leadership/theresa-manning/) - Senior Branch Administrative Manager - [Jeffrey D. Potter, CISSP, ISC2](https://www.investdavenport.com/firm-leadership/jeffrey-d-potter-cissp-isc2/) - Chief Technology Officer - [Ann N. Richmond](https://www.investdavenport.com/firm-leadership/ann-n-richmond/) - Chief Operations Officer - [Tammy R. Severt](https://www.investdavenport.com/firm-leadership/tammy-r-severt/) - Head of Financial Services - [Robert H. Wise, CSM](https://www.investdavenport.com/firm-leadership/robert-h-wise-csm/) - Chief Data Applications Officer ## Advisor Market Commentary - [August 2026](https://www.investdavenport.com/advisor-market-commentary/august-2026/) - U.S. equity markets underwent a significant rotation in July, with leadership broadening as headline indices drifted lower. The dominant story was a shift in the artificial intelligence narrative from a debate about demand potential to an increasing focus on the adequacy of returns on invested capital. This shift sent semiconductor and memory stocks sharply lower - [July 2026](https://www.investdavenport.com/advisor-market-commentary/july-2026/) - U.S. equity markets navigated a turbulent June, whipsawed by a mid-month escalation of the Iran conflict, a hawkish pivot from new Federal Reserve Chair Kevin Warsh, and a sharp round trip in energy prices before closing the month on firmer footing. Early in June, the May CPI print, rising tensions around the Strait of Hormuz, - [June 2026](https://www.investdavenport.com/advisor-market-commentary/june-2026/) - U.S. equity markets extended their advance in May, pushing to new all-time highs amid elevated Treasury yields, persistently firm inflation, a historic leadership transition at the Federal Reserve, and the uneven trajectory of peace negotiations surrounding the Iran conflict. Equity investors largely looked through rising bond yields—with the 30-year Treasury briefly touching its highest level - [May 2026](https://www.investdavenport.com/advisor-market-commentary/may-2026/) - U.S. equity markets proved notably resilient in April, advancing to new highs despite persistent geopolitical turbulence and a complex macro backdrop. Investors navigated ongoing instability in the Middle East, including continued disruptions to shipping through the Strait of Hormuz helping to push Brent crude prices above $110 per barrel, yet markets largely discounted these risks. - [April 2026](https://www.investdavenport.com/advisor-market-commentary/april-2026/) - U.S. equity markets broadly declined in March, as investors navigated a complex set of macroeconomic, policy, and geopolitical crosscurrents. Heightened tensions in the Middle East fueled by the conflict with Iran combined with evolving expectations for monetary policy, and a growing reassessment of technology themes weighed on market sentiment, resulting in sharp weakness across major - [March 2026](https://www.investdavenport.com/advisor-market-commentary/march-2026/) - The S&P 500® declined in February as geopolitical tensions and growing concerns over potential disruption from artificial intelligence weighed on investor sentiment. Following a coordinated strike on Iran, energy prices surged amid fears of oil supply disruptions linked to production risks and possible blockages at the Strait of Hormuz. Higher energy costs have revived inflation - [September 2020](https://www.investdavenport.com/advisor-market-commentary/september-2020/) - From Equity ResearchEquity markets surged higher during August despite the challenging backdrop created by the COVID-19 pandemic. Investors cheered on gains in a select group of leading technology companies that have been at the core of the market rebound seen this year. Concerns in August around the progress of the virus and increasing civil unrest - [February 2026](https://www.investdavenport.com/advisor-market-commentary/february-2026/) - Equity markets rallied in January starting the new year off with a substantial broadening in performance featuring particular strength in smaller cap issues. The market gains were noteworthy in the context of an unsettled macro environment including rising geopolitical concerns in the Middle East, Venezuela, and Greenland. We continue to be encouraged by the potential - [January 2026](https://www.investdavenport.com/advisor-market-commentary/january-2026/) - Equity market performance in December was mixed, capping off a strong year led by technology themes and fueled by investor optimism surrounding artificial intelligence. Although the S&P 500® index advanced by over 16% for the year, more diversified indexes lagged behind, as returns were highly concentrated, with strong contributions from high-beta and momentum factors. The - [December 2025](https://www.investdavenport.com/advisor-market-commentary/december-2025/) - Equity markets modestly rose in November despite broad weakness in the technologysector including among several leading AI related issues which took a pause after torridgains achieved through the year. The slight equity market advance for the month wasencouraging as it was achieved against a backdrop of mixed economic signals andheightened volatility as well as weakness - [November 2025](https://www.investdavenport.com/advisor-market-commentary/november-2025/) - Equity markets surged higher in October as third quarter earnings season was highlighted by strong showings amongst many large cap technology leaders. Investor enthusiasm for AI and cloud computing continued to dominate against a backdrop of easing monetary policy and restrained albeit sticky inflation. With markets pacing gains for six months in a row, investor - [July 2025](https://www.investdavenport.com/advisor-market-commentary/july-2025/) - Geopolitical risks rose in June as Israel launched attacks targeting Iran’s military leadership and strategic assets which then escalated to U.S. strikes on Iran’s nuclear infrastructure. Although the military conflict added further risks to a macro environment filled with uncertainty, equity markets proved resilient as investors reacted with relative calm to the geopolitical turmoil. Although - [October 2025](https://www.investdavenport.com/advisor-market-commentary/october-2025/) - Equity markets performed well in September on the heels of the Federal Reserve decision to cut interest rates by a quarter point. Although the rate decision was widely anticipated, investors seemed to take to heart the old Wall Street saying “Don’t fight the Fed” during the month. With the Fed now embracing a rate cutting - [September 2025](https://www.investdavenport.com/advisor-market-commentary/september-2025/) - Equity markets rallied in August as investors grew enthusiastic over the potential for the Federal Reserve to cut rates at the upcoming September FOMC meeting. CME FedWatch data suggests that the probability of a rate cut at the Fed’s next meeting in mid-September is now over 90%, and investors appear to be leaning into the - [August 2025](https://www.investdavenport.com/advisor-market-commentary/august-2025/) - A combination of factors aligned in July to support an overall strong month for equity returns. Signs of progress on the international trade front helped to reduce investor fears as the administration reached new agreements with several key trading partners although much work remains left to be completed. A tempering of trade uncertainty was further - [June 2025](https://www.investdavenport.com/advisor-market-commentary/june-2025/) - Equity markets continued to recover in May following early April’s “Liberation Day” tariff related declines. Although tariff uncertainty has weighed on sentiment, the decision by the U.S. and China in mid-May to suspend tariffs for 90 days represented an important cooling off of tensions and helped support the market recovery. While intra-month volatility around tariff - [May 2025](https://www.investdavenport.com/advisor-market-commentary/may-2025/) - Equity markets sharply declined after the April 2nd “Liberation Day” tariff announcement before recovering a portion of the drop by month-end. The worse-than-expected tariff news targeting key U.S. trading partners raised fears of rising inflation and a slowdown in economic growth. The prospect of resulting stagflation fueled a “risk off” trading environment that initially was - [April 2025](https://www.investdavenport.com/advisor-market-commentary/april-2025/) - Tariff uncertainty roiled equity markets in March with volatility continuing into the April 2nd “Liberation Day” featuring the announcement of new tariffs on U.S. trading partners. Negative sentiment grounded on fears of potential tariff induced economic disruptions sent investors to the sidelines with the prospect of rising inflation and slowing economic growth raising recession and - [March 2025](https://www.investdavenport.com/advisor-market-commentary/march-2025/) - Equity markets weakened in February as the accumulation of softer consumer data andan environment of increasing uncertainty linked to a series of new tariff announcementsas well as disruption from government cutbacks sent investors to the sidelines. Marketshad evidenced significant resilience into mid-February in the face of multiple headwindsbut signs of weakness in the consumer including - [February 2025](https://www.investdavenport.com/advisor-market-commentary/february-2025/) - Equity markets started off 2025 to the upside in January, reinforced by generally strong earnings reports across industries including several market leading technology companies. Further supporting equities has been a restrained interest rate environment with the Federal Reserve holding interest rate policy steady. After fueling a significant portion of 2024’s market gains, the technology sector - [August 2021](https://www.investdavenport.com/advisor-market-commentary/august-2021/) - From Equity ResearchThe spread of the COVID-19 Delta variant weighed on markets in July with economically sensitive sectors, in particular, lagging. Despite this backdrop, the VIX index or “fear gauge” ended the month at just over 18 having reached a high near 25 mid-month amidst concerns that the surge in the virus could derail the - [July 2021](https://www.investdavenport.com/advisor-market-commentary/july-2021/) - From Equity ResearchMarkets digested a range of conflicting signals during June with inflation in key commodities rising amidst increasing COVID concerns linked to the Delta variant. Nevertheless, market complacency appears to be holding relatively high as reflected in the VIX index or “fear gauge” which ended the month at just below 16 having reached a - [June 2021](https://www.investdavenport.com/advisor-market-commentary/june-2021/) - From Equity ResearchEquity markets continued to move higher in May as enthusiasm around reopening combined with widespread vaccinations appeared to overcome concerns around rising inflation. Optimism in the markets was reflected in the VIX index or “fear gauge” which ended the month at about 17 having reached a high of 28 early in the month - [May 2021](https://www.investdavenport.com/advisor-market-commentary/may-2021/) - From Equity ResearchNews of improving economic growth and surging vaccinations in the U.S. provided a constructive backdrop for equity markets in April leading to across the board gains in major indices. Although the news in the U.S. appears quite good for a summer reopening, other regions of the world continue to experience challenges with spread - [April 2021](https://www.investdavenport.com/advisor-market-commentary/april-2021/) - From Equity ResearchSigns of a robust economic recovery and accelerating vaccinations in the U.S. helped fuel broad based market gains in March. The combination of the new $1,400 stimulus checks with the announcement of a major new infrastructure proposal helped reinforce the magnitude of fiscal stimulus efforts being pursued in the U.S. Reflecting shifting sentiment, - [January 2025](https://www.investdavenport.com/advisor-market-commentary/january-2025/) - Equity markets experienced strong gains in 2024 with performance led by technologyrelated companies including members of the Magnificent 7 which accounted for overhalf of the annual increase in the S&P 500 index. Although the full year was strong,markets in December broadly retreated as the post Presidential election rally faded.Against a backdrop where market valuations appear - [December 2024](https://www.investdavenport.com/advisor-market-commentary/december-2024/) - Equities moved substantially higher in the weeks following the Presidential election asthe decisiveness of the victory removed some uncertainty around the post-electionpolitical environment and leadership transition. The favorable market backdrop is fuelingoptimism for a “Santa Claus” rally to cap off what has been a strong year for equities.Despite this optimism, however, questions are emerging regarding - [November 2024](https://www.investdavenport.com/advisor-market-commentary/november-2024/) - The conclusion of the Presidential election cycle resolves a key driver of equity market uncertainty with the outcome spurring a post-election rally on November 6th. Investors have moved past the short-term uncertainty presented by two candidates with sharply differing policy platforms, polling near 50:50, towards handicapping future policy shifts with a keen focus on energy, - [October 2024](https://www.investdavenport.com/advisor-market-commentary/october-2024/) - The 50 basis points rate cut by the Federal Reserve in September represented a shift from “higher for longer” monetary policy and provided the fuel to sustain the market rally with all major indices rising through month-end. With a more accommodative monetary policy in place, investor sentiment turned positive, and the S&P 500 made multiple - [September 2024](https://www.investdavenport.com/advisor-market-commentary/september-2024/) - After a sharp downturn in early August coinciding with an unraveling of the Japanese Carry Trade, the Dow and S&P rallied to end the month in positive territory. The early August downturn was associated with a significant spike in the VIX Index, commonly referred to as the fear gauge, which reached its highest level seen - [August 2024](https://www.investdavenport.com/advisor-market-commentary/august-2024/) - Equity market performance broadened noticeably in July with smaller capitalizationissues leading the market higher as mega cap tech stocks lagged. This performancecoincided with a softening in market interest rates as expectations increased for a moreaccommodative Fed. Strength in equity markets during July occurred despite broaduncertainty in the macro and geopolitical environment including the assassinationattempt on - [June 2024](https://www.investdavenport.com/advisor-market-commentary/june-2024/) - Time will tell how well the old saying “Sell in May and Go Away” works this year but, at least for May, bullish investors were rewarded with major equity indexes solidly positive for the month. Continued large cap tech leadership combined with cautious optimism about the potential for Fed policy to remain neutral if not - [July 2024](https://www.investdavenport.com/advisor-market-commentary/july-2024/) - The S&P 500® continued to grind higher in June to finish out a strong first half of 2024 led by a small group of technology titans. The market’s narrow strength, led by the technology sector, comes despite emerging signs of housing and consumer weakness as well as geopolitical uncertainty. Nevertheless, the VIX Index or “fear - [May 2024](https://www.investdavenport.com/advisor-market-commentary/may-2024/) - After a strong start to the year, equity markets gave back a portion of year-to-date gains in April. A combination of geopolitical and macroeconomic factors coalesced, moving some investors to the sidelines during the month. Strength in the economic backdrop fueled rising concerns that the Fed might shift back to a somewhat more restrictive stance, - [April 2024](https://www.investdavenport.com/advisor-market-commentary/april-2024/) - Equity markets closed out a robust first quarter with continued gains in March as investor fears of a recession have diminished. Market breadth expanded in the quarter as performance spread beyond the Magnificent Seven tech-related equities across sectors and market capitalizations. The economic backdrop has also been cooperative despite ongoing restrictive monetary policy, with investors - [March 2024](https://www.investdavenport.com/advisor-market-commentary/march-2024/) - Markets moved sharply higher in February, continuing the 2024 rally while expanding breadthacross sectors and market capitalizations. Generally better-than-expected earnings throughthe first quarter reporting season supported investor enthusiasm, as did the prospect of apotentially more restrained rate environment. The VIX Index or “fear gauge” reflected thepositive investor sentiment, with the index tracking in the low - [February 2024](https://www.investdavenport.com/advisor-market-commentary/february-2024/) - Tech-related issues led markets higher in January, with many large-cap stocks rebounding from a relative pause in December, while smaller caps lagged sharply following the gains seen in December. Despite concerns going into fourth-quarter earnings reports, the VIX Index or “fear gauge” hovered in the low teens for much of January as investors appeared complacent - [January 2024](https://www.investdavenport.com/advisor-market-commentary/january-2024/) - Equity markets closed out December and the 2023 trading year, with all major indices solidly higher. Investor enthusiasm reflected optimism around easing inflation, the employment environment, and a strengthening U.S. economy. With prospects improving for an easing rate cycle, the VIX Index or “fear gauge” reflected market sentiment, with the index hovering in the low - [December 2023](https://www.investdavenport.com/advisor-market-commentary/december-2023/) - Equity markets surged in November, with all major indexes moving sharply higher. Optimism around the economic environment and a pullback in interest rates appeared to be drivers of market gains in the month. The VIX Index, or “fear gauge,” reflected the market sentiment as it pulled back from the high teens starting in November to - [November 2023](https://www.investdavenport.com/advisor-market-commentary/november-2023/) - Following a weak September, equity markets continued to slide in October as all major indices declined. The surprise attack in Israel, combined with ongoing high interest rates and inflation, provided a challenging backdrop for equities. However, more recently, the Fed’s decision to hold rates steady offered some market support. The VIX Index or “fear gauge” - [October 2023](https://www.investdavenport.com/advisor-market-commentary/october-2023/) - Equity investors were punished in September as all major indexes declined sharply. A more hawkish tone from the Federal Reserve added to uncertainty, while high-interest rates and stubborn inflation provided a challenging framework for equities. Against this backdrop, the VIX Index or “fear gauge” started September at a little over 13 and climbed through the - [September 2023](https://www.investdavenport.com/advisor-market-commentary/september-2023/) - August was a challenging month for equity investors following two solidly positive gains in June and July. Contributing to the August equity performance was weakness seen across the seven large-cap technology leaders that have paced the 2023 equity market rally. Against this backdrop, the VIX Index or “fear gauge,” which started the month at a - [August 2023](https://www.investdavenport.com/advisor-market-commentary/august-2023/) - Following a strong June, equity markets stayed in bullish territory through July as investors cheered the potential for a soft economic landing. The 2023 rally, which has been led by a handful of technology related issues, broadened during July across multiple sectors. Against this bullish backdrop, the VIX Index or “fear gauge” which started the - [July 2023](https://www.investdavenport.com/advisor-market-commentary/july-2023/) - Equity markets surged higher in June finishing off a strong first half of 2023 with the NASDAQposting the best performance in forty years. Although technology stocks continued to pacethe broader market, breadth increased with market leadership rotating to other sectors.Against this bullish backdrop, the VIX Index or “fear gauge” which started the month at alittle - [June 2023](https://www.investdavenport.com/advisor-market-commentary/june-2023/) - Despite a late-month move higher fueled by investor enthusiasm around all things linked to Artificial Intelligence, equity markets were generally mixed in May. With very narrow market breadth, equities seemed to be reflecting a “have or have not” attitude by investors seeking to participate in the bright prospects linked to artificial intelligence and large language - [February 2023](https://www.investdavenport.com/advisor-market-commentary/february-2023/) - Coming off a challenging 2022, equity markets broadly rebounded in January with all major indexes up sharply as investor sentiment improved in the new year. Increasing confidence in the likelihood of a soft landing and the potential for the Fed to further slow the pace of interest rate hikes appear to have provided support for - [March 2023](https://www.investdavenport.com/advisor-market-commentary/march-2023/) - Equity markets in February gave back some of the strong gains from January as investors digested new economic datasets pointing to a resilient labor market and rising price levels in the U.S. With few signs emerging supportive of a disinflation outlook, the higher rates for a longer narrative appeared to gain traction with investors thereby - [May 2023](https://www.investdavenport.com/advisor-market-commentary/may-2023/) - Markets worked generally higher in April as investors digested the challenges in the financial sector fueled by recent bank failures. With widespread financial contagion appearing less likely, investors felt confident to support rising markets with large-cap leaders pushing the Dow and S&P 500 higher. Against this backdrop, the VIX Index or “fear gauge” which started - [April 2023](https://www.investdavenport.com/advisor-market-commentary/april-2023/) - Equity markets were shaken in March by turmoil in the banking sector resulting from the failure of Silicon Valley Bank and Signature Bank of New York. Swift regulatory agency backstopping of the financial sector served to calm equity markets with major indexes turning in mixed performances for the month. Against this backdrop, the VIX Index - [January 2023](https://www.investdavenport.com/advisor-market-commentary/january-2023/) - Equities suffered through a tough year in 2022 with all major indexes down sharply as investors grappled with a host of challenges ranging from rising interest rates and inflation to war in Europe. Year-end weakness reflected ongoing effects from Fed tightening as well as concerns that hawkish monetary policy could lead to recession in 2023. - [December 2022](https://www.investdavenport.com/advisor-market-commentary/december-2022/) - Equity markets in November moved broadly higher continuing the trend set in October as companies generally delivered better than expected third quarter earnings. In November, the outlook for a more benign monetary policy backdrop appears to have provided further market support with commentary from Fed Chair Powell adding to investor optimism around the potential for - [November 2022](https://www.investdavenport.com/advisor-market-commentary/november-2022/) - Markets powered sharply higher in October reversing September’s weakness as companies delivered generally better than expected earnings for the third quarter. A strong earnings season and relatively steady macro allowed investors to shake off some of the gloom that had been weighing down markets following a series of macro shocks ranging from surging energy prices - [October 2022](https://www.investdavenport.com/advisor-market-commentary/october-2022/) - Market pessimism weighed on equities in September and was reflected in a sharp drop in all major indexes. The gloomy mood was exacerbated by mounting concerns that the Federal Reserve may have become overly aggressive and that tight monetary policy could push the economy into recession. With this backdrop, the VIX Index or “fear gauge” - [September 2022](https://www.investdavenport.com/advisor-market-commentary/september-2022/) - From Equity Research Hawkish commentary from the Fed weighed on markets in August as investors parsed the outlook for rising rates amidst broad economic uncertainty. It was a challenging month for equities with recession fears and rising interest rates providing an overhang all while consumers and businesses grappled with a difficult inflation environment. With this - [August 2022](https://www.investdavenport.com/advisor-market-commentary/august-2022/) - From Equity ResearchEquity markets rallied strongly in July with particular strength seen in beaten down sectors such as Consumer Discretionary and Information Technology. Although recession fears continue to weigh on the market, it appears that some investors may be handicapping the potential for a soft landing for the economy. With this backdrop, the VIX Index - [July 2022](https://www.investdavenport.com/advisor-market-commentary/july-2022/) - From Equity ResearchEquity markets closed out June and the first half of 2022 to the downside as investors chose to stay on the sidelines in the face of a challenging bear market. Amidst an environment of rising rates and surging inflation, equity valuations have moved relentlessly downward this year most recently fueled by rising fears - [June 2022](https://www.investdavenport.com/advisor-market-commentary/june-2022/) - From Equity ResearchAlthough markets oscillated sharply during May, equity indexes closed out the month in relatively flat territory as swings in prices generally were not sustained. Geopolitical events continued to pressure markets during the month with the war in Ukraine adding uncertainty against a backdrop of rising interest rates and inflation. Although the VIX Index - [May 2022](https://www.investdavenport.com/advisor-market-commentary/may-2022/) - From Equity ResearchInvestors endured another volatile month of market swings with stocks closing out April with the worst performance dating to the financial crisis of 2008. A range of persistent uncertainties related to evolving Fed policy, inflation at 40-year highs, an ongoing invasion by Russia into Ukraine, and spiking COVID caseloads in China threatening widespread - [April 2022](https://www.investdavenport.com/advisor-market-commentary/april-2022/) - From Equity ResearchMarkets faced significant new challenges and uncertainties in February with the Russian invasion of The war in Ukraine captured market and world attention in March with daily developments swinging global equities and commodities in an already uncertain macro environment. Adding to investor concern has been the inflation and interest rate backdrop with the - [March 2022](https://www.investdavenport.com/advisor-market-commentary/march-2022/) - From Equity ResearchMarkets faced significant new challenges and uncertainties in February with the Russian invasion of Ukraine spiking energy prices higher while pressuring global equities. Reflecting this environment, the VIX Index or “fear gauge” continued its volatile path rising from the low 20’s mid-month to surge over 30 near month-end. For the full month, major - [February 2022](https://www.investdavenport.com/advisor-market-commentary/february-2022/) - From Equity ResearchJanuary was a challenging month for equity investors with major indexes experiencing significant declines in the face of interest rate, pandemic, and geopolitical concerns. Oil prices surged as fears around a potential incursion by Russia into Ukraine gained currency through the month. Reflecting this environment, the VIX Index or “fear gauge” surged towards - [January 2022](https://www.investdavenport.com/advisor-market-commentary/january-2022/) - From Equity ResearchEquity markets finished strongly in 2021 overcoming concerns on multiple fronts providing a third year of gains for investors with the S&P 500® index up over 27% for the year. Year-end market enthusiasm reflected ongoing effects from stimulative policies as well as optimism that 2022 may prove to be a turning point for - [December 2021](https://www.investdavenport.com/advisor-market-commentary/december-2021/) - From Equity Research Equity markets performed well in October with all eleven sectors within the S&P 500 ending in the green for the Equity markets slipped in November with nine of the eleven sectors within the S&P 500 declining for the month. Market weakness came against a backdrop of ongoing COVID-19 concerns including the appearance - [November 2021](https://www.investdavenport.com/advisor-market-commentary/november-2021/) - From Equity ResearchEquity markets performed well in October with all eleven sectors within the S&P 500 ending in the green for the month. Market strength came despite pressures ranging from rising energy prices to snarled supply chains amidst the backdrop of the COVID-19 pandemic. Investor confidence in October appeared strong with the VIX index or - [October 2021](https://www.investdavenport.com/advisor-market-commentary/october-2021/) - From Equity ResearchSeptember lived up to its reputation as a tough month for equities as markets faced a wide range of macro concerns. Congressional gridlock, ongoing COVID-19 challenges, questions about China growth, delays in global logistics networks, the outlook for interest rates, inflation rising and oil prices surging all combined to create a challenging market - [September 2021](https://www.investdavenport.com/advisor-market-commentary/september-2021/) - From Equity ResearchEquity markets broadly rose in August despite the ongoing spread of the COVID-19 Delta variant with the rally fueled at least in part by ongoing accommodative monetary policy. Market volatility was relatively flat for the month although the VIX index or “fear gauge” spiked mid-month as news deteriorated around Afghanistan reaching a mid-month - [March 2021](https://www.investdavenport.com/advisor-market-commentary/march-2021/) - From Equity ResearchDuring February, equity markets responded positively to improving daily COVID-19 case count trends and the broadening distribution of vaccines amid signs of improving economic news. The VIX Index or “Fear Gauge” which had spiked at the end of January, generally trended down for the month although concerns around rising interest rates appeared to - [February 2021](https://www.investdavenport.com/advisor-market-commentary/february-2021/) - From Equity ResearchThe New Year ushered in continuing uncertainties for equity markets as the COVID-19 pandemic weighs on consumers both in the U.S. and abroad. During January, equity market performance was mixed with smaller caps generally outperforming large cap stocks. Reflecting a notable shift, the VIX Index or “Fear Gauge” which had been tracking in - [January 2021](https://www.investdavenport.com/advisor-market-commentary/january-2021/) - From Equity ResearchDespite the ravages caused by the global COVID-19 pandemic, 2020 will go down in history as a volatile but overall very strong year for equity investors. It was a year that saw the S&P 500® index crater by 32% in the first quarter of 2020 before rebounding sharply on the heels of unprecedented - [January 2020](https://www.investdavenport.com/advisor-market-commentary/january-2020/) - From Equity ResearchThe 2019 bull market rally was sustained in December with equity indexes closing out the year in solidly positive territory albeit giving back some gains at the start of the New Year following the airstrike in Iran. For the full year, 2019 proved to be outstanding for equity investors with the S&P 500® - [February 2020](https://www.investdavenport.com/advisor-market-commentary/february-2020/) - From Equity ResearchFollowing an impressive 2019, equity investors were greeted with a range of challenges to kick off the New Year ranging from geopolitics to health concerns. The U.S. air strike in early January targeting an Iranian official added to turbulence in energy markets that had been striving to reach a better supply/demand balance. These - [March 2020](https://www.investdavenport.com/advisor-market-commentary/march-2020/) - From Equity ResearchDuring February our disease vocabulary unfortunately expanded beyond coronavirus to the even more scary sounding COVID-19 as the epidemic moved from China to virtually all corners of the planet. With the spreading virus came concerns around health, supply chains, energy, and global GDP as both the total number of cases and deaths rapidly - [April 2020](https://www.investdavenport.com/advisor-market-commentary/april-2020/) - From Equity ResearchMarch was a tumultuous month for equity markets closing out the worst Q1 performance ever as the COVID-19 pandemic spread across the United States sowing fear and uncertainty. As markets searched for a bottom, investors grappled with social and economic fallout from the crisis which will reverberate for years to come. Against this - [May 2020](https://www.investdavenport.com/advisor-market-commentary/may-2020/) - From Equity ResearchEquity markets rallied in April on unprecedented levels of government stimulus combined with rising hopes that shelter-in-place mandates may be slowing the spread of the virus. More bullish sentiment amongst investors was reflected in the VIX Index, or “fear gauge” which backed off March highs in the 80’s to end April in the - [June 2020](https://www.investdavenport.com/advisor-market-commentary/june-2020/) - From Equity ResearchRebounding equity markets during May captured investor optimism that the worst may be behind the economy against a backdrop of continuing fiscal and monetary support from governmental policies. Market enthusiasm seemed to increase as the month progressed as pandemic lockdowns were lifted spurring equities to move into valuation bands that could be ahead - [July 2020](https://www.investdavenport.com/advisor-market-commentary/july-2020/) - From Equity ResearchThe World Health Organization warned that “The worst is yet to come” as the spread of the coronavirus pandemic appears to be accelerating in the U.S. The potential economic ramifications of an upsurge in the virus weighed on equity markets in late June although for the full month equities advanced broadly. The VIX - [August 2020](https://www.investdavenport.com/advisor-market-commentary/august-2020/) - From Equity ResearchThe rebound in U.S. equity markets continued during July despite surging levels of new COVID-19 cases emerging across the country. The market advance remained narrow, however, with a handful of leading technology companies fueling gains. Although concerns around the spread of the coronavirus represented headline news, the VIX Index, or "fear guage" suggests - [October 2020](https://www.investdavenport.com/advisor-market-commentary/october-2020/) - From Equity ResearchEquities took a breather in September following a strong August as uncertainties around the upcoming election combined with ongoing concerns linked to the pandemic weighed on markets. The VIX Index, or “fear gauge,” was volatile through the month ending the period around where it began in the mid-25 range. For the full month, - [November 2020](https://www.investdavenport.com/advisor-market-commentary/november-2020/) - From Equity ResearchEquities were broadly down in October as investors grew cautious in response to surging COVID-19 case counts and the uncertainties around the Presidential election which have continued as vote counting continues post-election. The VIX Index, or “fear gauge,” started the month in the mid-25 range and spiked at month-end to over 38. For - [December 2020](https://www.investdavenport.com/advisor-market-commentary/december-2020/) - From Equity ResearchEquity markets during November generated powerful gains as investors focused on a future where highly effective vaccines might allow a return to a more normal life. This optimism came despite increasingly dire news around the rapid acceleration in the spread of the COVID-19 case counts across the U.S. in recent days. 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