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Name

As of 11/04/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

Davenport Core Leaders Fund

DAVPX | Fund

$36.59

$970 M

0.13%

$0.05

0.87%

Vitals

YTD Return

19.1%

1 yr return

31.6%

3 Yr Avg Return

6.2%

5 Yr Avg Return

11.9%

Net Assets

$970 M

Holdings in Top 10

38.9%

52 WEEK LOW AND HIGH

$36.6
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.87%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 20.00%

Redemption Fee N/A

Min Investment

Standard (Taxable)

$5,000

IRA

$2,000

Fund Classification

Fund Type

Open End Mutual Fund

Name

As of 11/04/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

Davenport Core Leaders Fund

DAVPX | Fund

$36.59

$970 M

0.13%

$0.05

0.87%

DAVPX - Profile

Distributions

  • YTD Total Return 19.1%
  • 3 Yr Annualized Total Return 6.2%
  • 5 Yr Annualized Total Return 11.9%
  • Capital Gain Distribution Frequency Semi-Annually
  • Net Income Ratio 0.04%
DIVIDENDS
  • Dividend Yield 0.1%
  • Dividend Distribution Frequency Quarterly

Fund Details

  • Legal Name
    Davenport Core Leaders Fund
  • Fund Family Name
    Davenport
  • Inception Date
    Feb 13, 1998
  • Shares Outstanding
    N/A
  • Share Class
    Other
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Michael Beall

Fund Description

Under normal circumstances, the Core Leaders Fund will invest at least 80% of its net assets in common stocks. Davenport & Company LLC (the “Adviser”) will generally invest in common stocks of market-leading companies that show strong capital appreciation potential, have strong and focused management, solid balance sheets and a history of proven results. In determining whether a company has the potential for appreciation, the Adviser will focus on several criteria, including, among other things:

● Market Leadership: The company possesses a distinct competitive advantage as reflected by its commanding and/or growing market share.
● Above Average Earnings Growth: The company has a favorable 3 to 5 year earnings per share trajectory versus the broader market as measured by companies in the S&P 500® Index.
● Capital Allocation: The company has demonstrated its proficiency in deploying its free cash flow and/or the potential for strong returns on invested capital.
● Financial Strength: The company has a strong balance sheet and reasonable valuation levels.
● Disciplined Management: The company has a sound and talented management team that is aligned with its shareholders.

The Adviser attempts to control risk through diversification among major market sectors, but at times, may emphasize a particular business sector. The Adviser does not limit the Fund to any particular capitalization requirement. At any time, the Fund may invest a portion of its assets in small, unseasoned companies.

The Fund may invest in shares of exchange traded funds (“ETFs”) to increase the Fund’s exposure to the broad market or to industry sectors without purchasing a large number of individual securities. Such ETFs will typically hold a portfolio of securities designed to track the performance of a particular index or market sector. ETFs differ from traditional mutual funds since their shares are listed on a securities exchange and can be traded intraday. When the Fund invests in an ETF, Fund shareholders will indirectly pay a proportionate share of the management fee and operating expenses of the ETF, in addition to the Fund’s direct fees and expenses. The Fund may invest up to 20% of its net assets in ETFs.

The Fund may invest up to 30% of its net assets in common stocks of foreign issuers when, in the Adviser’s opinion, such investments would be advantageous to the Fund and help the Fund achieve its investment objective.

A security will be sold when the Adviser believes the security no longer has the potential for strong capital appreciation, when it meets its targeted price, when the fundamentals of the issuer’s business or general market conditions have changed, when more attractive opportunities become available, or when strong performance has resulted in an outsized position for the security within the Fund’s portfolio.

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DAVPX - Performance

Return Ranking - Trailing

Period DAVPX Return Category Return Low Category Return High Rank in Category (%)
YTD 19.1% -1.3% 40.0% 71.69%
1 Yr 31.6% 3.7% 56.8% 76.92%
3 Yr 6.2%* -27.9% 23.5% 30.23%
5 Yr 11.9%* -13.9% 29.5% 86.60%
10 Yr 10.8%* -4.9% 19.5% 86.08%

* Annualized

Return Ranking - Calendar

Period DAVPX Return Category Return Low Category Return High Rank in Category (%)
2023 20.6% -74.1% 72.4% 83.80%
2022 -23.7% -85.9% 4.7% 10.12%
2021 13.1% -52.4% 60.5% 34.17%
2020 12.4% -34.3% 145.0% 92.20%
2019 29.8% -6.9% 49.4% 20.32%

Total Return Ranking - Trailing

Period DAVPX Return Category Return Low Category Return High Rank in Category (%)
YTD 19.1% -1.3% 40.0% 71.69%
1 Yr 31.6% 3.7% 56.8% 76.92%
3 Yr 6.2%* -27.9% 23.5% 30.23%
5 Yr 11.9%* -13.9% 29.5% 86.60%
10 Yr 10.8%* -4.9% 19.5% 86.08%

* Annualized

Total Return Ranking - Calendar

Period DAVPX Return Category Return Low Category Return High Rank in Category (%)
2023 25.2% -4.6% 72.4% 86.33%
2022 -20.1% -61.7% 5.6% 10.40%
2021 23.0% -39.8% 118.1% 42.15%
2020 13.8% 2.8% 149.2% 98.56%
2019 32.9% -5.2% 49.4% 51.97%

NAV & Total Return History

DAVPX - Holdings

Concentration Analysis

DAVPX Category Low Category High DAVPX % Rank
Net Assets 970 M 292 K 287 B 60.70%
Number of Holdings 41 2 3061 76.51%
Net Assets in Top 10 393 M 126 K 151 B 63.82%
Weighting of Top 10 38.87% 0.7% 205.0% 85.92%

Top 10 Holdings

  1. Meta Platforms, Inc. Class A Class A 5.02%
  2. Microsoft Corporation 4.97%
  3. Amazon.com, Inc. 4.87%
  4. First American Treasury Obligations Fund Class X 3.97%
  5. Brookfield Corporation 3.91%
  6. Adobe, Inc. 3.58%
  7. Apple, Inc. 3.32%
  8. NVIDIA Corporation 3.16%
  9. UnitedHealth Group, Inc. 3.12%
  10. Air Products Chemicals, Inc. 2.97%

Asset Allocation

Weighting Return Low Return High DAVPX % Rank
Stocks 		96.08% 0.00% 115.30% 91.18%
Cash 		3.97% 0.00% 173.52% 8.46%
Preferred Stocks 		0.00% 0.00% 10.69% 39.87%
Other 		0.00% -31.50% 50.35% 44.73%
Convertible Bonds 		0.00% 0.00% 1.94% 30.75%
Bonds 		0.00% 0.00% 102.71% 33.30%

Stock Sector Breakdown

Weighting Return Low Return High DAVPX % Rank
Financial Services 		22.11% 0.00% 43.06% 3.43%
Technology 		18.08% 0.00% 65.70% 96.03%
Communication Services 		14.05% 0.00% 66.40% 16.32%
Consumer Cyclical 		13.38% 0.00% 62.57% 65.73%
Healthcare 		12.85% 0.00% 39.76% 47.25%
Basic Materials 		7.01% 0.00% 18.91% 2.98%
Industrials 		4.30% 0.00% 30.65% 70.60%
Energy 		3.94% 0.00% 41.09% 14.70%
Real Estate 		2.65% 0.00% 16.05% 20.83%
Consumer Defense 		1.63% 0.00% 25.50% 78.09%
Utilities 		0.00% 0.00% 16.07% 51.31%

Stock Geographic Breakdown

Weighting Return Low Return High DAVPX % Rank
US 		96.08% 0.00% 115.30% 77.14%
Non US 		0.00% 0.00% 75.51% 52.84%

DAVPX - Expenses

Operational Fees

DAVPX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.87% 0.01% 28.71% 57.09%
Management Fee 0.75% 0.00% 1.50% 80.51%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.01% 1.02% 70.24%

Sales Fees

DAVPX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 2.25% 8.50% N/A
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

DAVPX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 2.00% N/A

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

DAVPX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 20.00% 0.00% 316.74% 25.10%

DAVPX - Distributions

Dividend Yield Analysis

DAVPX Category Low Category High DAVPX % Rank
Dividend Yield 0.13% 0.00% 27.58% 34.59%

Dividend Distribution Analysis

DAVPX Category Low Category High Category Mod
Dividend Distribution Frequency Quarterly Annual Annual Annual

Net Income Ratio Analysis

DAVPX Category Low Category High DAVPX % Rank
Net Income Ratio 0.04% -6.13% 3.48% 22.91%

Capital Gain Distribution Analysis

DAVPX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Semi-Annually Annually Annually Annually

Distributions History

View More +

DAVPX - Fund Manager Analysis

Managers

Michael Beall

Start Date

Tenure

Tenure Rank

Jan 15, 1998

24.39

24.4%

Michael S. Beall, CFA joined Davenport & Company in 1980 and is an Executive Vice President, Director and Chairman of the IPC. Mr. Beall has been a member of the IPC since June 1991.

John Ackerly

Start Date

Tenure

Tenure Rank

Dec 31, 1999

22.43

22.4%

Serves on Davenport's Executive Committee and Board of Directors; President of the Davenport Mutual Funds; Past President, Richmond Society of Financial Analysts; Previously served as Portfolio Manager for Central Fidelity Bank

E. Brown

Start Date

Tenure

Tenure Rank

Dec 31, 2002

19.43

19.4%

E. Trigg Brown, Jr. (age 57) joined Davenport & Company LLC in 1982 and currently serves as a Financial Advisor and the Branch Manager of the Advisor’s Richmond, Virginia branch. Mr. Brown is a member of the Advisor’s Executive Committee and has been a member of the Investment Policy Committee since October 2002.

Robert Giles

Start Date

Tenure

Tenure Rank

Aug 01, 2007

14.84

14.8%

Robert B. Giles joined Davenport & Company in 1967 and currently serves as an Executive Vice President and Director. Mr. Giles has been a member of the IPC since July 2007.

George Smith

Start Date

Tenure

Tenure Rank

Aug 01, 2010

11.84

11.8%

George L. Smith, III, CFA (age 41) joined Davenport & Company in 1997 and currently serves as a Senior Vice President, Director and coordinator of the buy-side research for the firm. Mr. Smith is a member of the firm’s Executive Committee and has been a member of the IPC since July 2010. .

Christopher Pearson

Start Date

Tenure

Tenure Rank

Jun 14, 2019

2.96

3.0%

Christopher G. Pearson, CFA joined Davenport & Company LLC in 2006 and is First Vice President and a buy-side analyst for the firm. Mr. Pearson is a member of the firm’s Portfolio Review Committee. Mr. Pearson earned his BA in Business Administration from University of Richmond.

Joel Ray

Start Date

Tenure

Tenure Rank

Jan 14, 2020

2.38

2.4%

Joel Ray is a member of the Davenport Investment Policy Committee as well as the Director of Equity Research. He has been in the industry since 1981 and at Davenport & Company since 2004. Joel received his BA in Biology from Colgate University and his MBA from Cornell University (Johnson). He is a holder of the Chartered Financial Analyst designation.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.04 54.45 8.23 3.08

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