Davenport Small Cap Focus Fund

Davenport Small Cap Focus emphasizes smaller capitalization companies with significant growth potential through a concentrated approach.

Fund Objective

  • Long-term growth of capital

Investment Themes

  • Differentiated ideas in a Less Efficient Universe: Under-followed names with strong growth potential
  • Owner/Operators: Potential small cap break-outs with high returns on invested capital
  • Out of Favor Situations: Investment opportunities facing temporary challenges

Portfolio Construction

  • Position sizes typically start in the 1-2% range
  • Low portfolio turnover
  • Broad sector diversification

Risk Management

  • Tend to avoid significant balance sheet or business risk
  • Rigorous research enables greater depth of knowledge of companies we follow and own
  • Valuation sensitive with focus on margin of safety embedded in purchase price
Portfolio Management
George L. Smith, CFA

Investors should consider the Fund’s investment objectives, risks, charges, and expenses carefully before investing. The Fund’s prospectus and summary prospectus contain this and other important information, should be read carefully before investing or sending money, and may be obtained from your Investment Executive, www.investdavenport.com, or by calling (888) 285-1863.
Distributed by Ultimus Fund Distributors, LLC
Risk Considerations: The fund may not achieve its objective and/or you could lose money on your investment in the fund. Stock markets and investments in individual stocks are volatile and can decline significantly in response to market, foreign securities, small company, exchange traded fund, investment style and management risks. Small and mid cap company stocks may be more volatile than stocks of larger, more established companies. Please see the prospectus for further information on these and other risk considerations.