Davenport Small Cap Focus Fund
Name
As of 11/05/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Vitals
YTD Return
3.7%
1 yr return
16.2%
3 Yr Avg Return
1.7%
5 Yr Avg Return
11.7%
Net Assets
$984 M
Holdings in Top 10
43.8%
52 WEEK LOW AND HIGH
Expenses
OPERATING FEES
Expense Ratio 0.90%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 44.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$5,000
IRA
$2,000
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 11/05/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
DSCPX - Profile
Distributions
- YTD Total Return 3.7%
- 3 Yr Annualized Total Return 1.7%
- 5 Yr Annualized Total Return 11.7%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 0.49%
- Dividend Yield 0.6%
- Dividend Distribution Frequency Quarterly
Fund Details
-
Legal NameDavenport Small Cap Focus Fund
-
Fund Family NameDavenport
-
Inception DateDec 31, 2014
-
Shares OutstandingN/A
-
Share ClassOther
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerGeorge Smith
Fund Description
Under normal circumstances, at least 80% of the Small Cap Focus Fund’s net assets (including the amount of any borrowings for investment purposes) will be invested in common stocks of small capitalization companies and shares of registered investment companies (“RICs”) that invest primarily in stocks of small capitalization companies. Under normal circumstances, the Fund will invest primarily in companies that Davenport & Company LLC (the “Adviser”) believes have the potential for significant capital appreciation. The Adviser seeks to identify companies that have the potential to achieve above average long-term earnings growth or companies that may be undervalued because they are currently out of favor with the market or misunderstood and underfollowed by the investment community. At times, the Fund may emphasize investment in one or more particular issuers or business sectors that are believed to have favorable prospects.
The Adviser uses a “bottom-up” fundamental research process that focuses primarily on individual companies in the context of broader market factors. In determining whether a company has the potential for capital appreciation, the Adviser will focus on several criteria, including, among other things:
● | rate of earnings growth or earnings growth potential |
● | valuation |
● | management strength |
● | balance sheet strength |
● | free cash flow generation |
● | effective capital allocations |
● | returns on invested capital |
The Adviser defines small capitalization companies as those whose market capitalization is between $300 million and $7 billion. The market capitalization of the companies in the Fund’s portfolio will change over time, and the Fund will not automatically sell a company it already owns, just because the company’s market capitalization increases above or decreases below this range.
The Fund may invest in special situation companies facing near-term headwinds but with favorable prospects for recovery. Special situations may include significant changes in a company’s allocation of its existing capital (companies undergoing turnarounds, spin-offs, mergers or acquisitions) or a restructuring of assets. Special situations may also result from significant changes to an industry through regulatory developments or shifts in competition, new or improved products, changes in senior management or significant changes in cost structure.
The Fund may invest in RICs, including shares of mutual funds and 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. 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 a RIC, Fund shareholders will indirectly pay a proportionate share of the management fee and operating expenses of the RIC, in addition to the Fund’s direct fees and expenses.
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 it achieve its investment objective. The Fund may invest in ETFs that invest primarily in common stocks of foreign companies, including regional and/or country specific ETFs.
A security will be sold when the Adviser believes it no longer has the potential for strong 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.
DSCPX - Performance
Return Ranking - Trailing
Period | DSCPX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 3.7% | -19.3% | 31.0% | 98.11% |
1 Yr | 16.2% | -8.0% | 45.2% | 98.11% |
3 Yr | 1.7%* | -15.3% | 40.9% | 42.34% |
5 Yr | 11.7%* | -12.9% | 33.2% | 10.80% |
10 Yr | N/A* | -3.0% | 17.8% | N/A |
* Annualized
Return Ranking - Calendar
Period | DSCPX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 16.4% | -19.9% | 29.0% | 25.38% |
2022 | -20.9% | -59.3% | 118.2% | 52.00% |
2021 | 3.8% | -31.6% | 39.3% | 71.76% |
2020 | 18.3% | -51.0% | 39.5% | 13.10% |
2019 | 37.8% | -5.6% | 37.8% | 0.21% |
Total Return Ranking - Trailing
Period | DSCPX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 3.7% | -19.3% | 31.0% | 98.11% |
1 Yr | 16.2% | -8.0% | 45.2% | 98.11% |
3 Yr | 1.7%* | -15.3% | 40.9% | 42.34% |
5 Yr | 11.7%* | -12.9% | 33.2% | 10.80% |
10 Yr | N/A* | -3.0% | 17.8% | N/A |
* Annualized
Total Return Ranking - Calendar
Period | DSCPX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 22.3% | -11.7% | 31.8% | 4.92% |
2022 | -15.6% | -45.2% | 123.7% | 33.90% |
2021 | 20.4% | 0.0% | 45.6% | 67.50% |
2020 | 25.7% | -50.5% | 46.9% | 4.17% |
2019 | 40.9% | 2.2% | 40.9% | 0.21% |
NAV & Total Return History
DSCPX - Holdings
Concentration Analysis
DSCPX | Category Low | Category High | DSCPX % Rank | |
---|---|---|---|---|
Net Assets | 984 M | 529 K | 145 B | 34.09% |
Number of Holdings | 34 | 2 | 2445 | 96.61% |
Net Assets in Top 10 | 409 M | 124 K | 9.87 B | 15.07% |
Weighting of Top 10 | 43.79% | 3.1% | 100.1% | 4.73% |
Top 10 Holdings
- Monarch Casino Resort, Inc. 5.32%
- Stewart Information Services Corporation 4.83%
- OneSpaWorld Holdings Ltd. 4.76%
- Verra Mobility Corporation 4.61%
- Kinsale Capital Group, Inc. 4.43%
- Janus International Group, Inc. 4.38%
- J J Snack Foods Corporation 4.03%
- Enovis Corporation 3.88%
- ESAB Corporation 3.80%
- First American Treasury Obligations Fund Class X 3.76%
Asset Allocation
Weighting | Return Low | Return High | DSCPX % Rank | |
---|---|---|---|---|
Stocks | 95.35% | 7.51% | 107.74% | 88.32% |
Cash | 4.65% | 0.00% | 42.24% | 22.41% |
Preferred Stocks | 0.00% | 0.00% | 6.06% | 57.25% |
Other | 0.00% | -0.07% | 49.08% | 74.20% |
Convertible Bonds | 0.00% | 0.00% | 3.17% | 57.17% |
Bonds | 0.00% | 0.00% | 87.66% | 60.26% |
Stock Sector Breakdown
Weighting | Return Low | Return High | DSCPX % Rank | |
---|---|---|---|---|
Industrials | 21.31% | 2.46% | 37.42% | 20.76% |
Financial Services | 17.38% | 0.00% | 35.52% | 25.33% |
Consumer Cyclical | 16.14% | 0.99% | 47.79% | 6.86% |
Communication Services | 11.07% | 0.00% | 14.85% | 0.95% |
Technology | 9.10% | 0.00% | 43.95% | 90.48% |
Consumer Defense | 7.11% | 0.00% | 18.87% | 8.57% |
Real Estate | 6.81% | 0.00% | 29.43% | 58.48% |
Basic Materials | 4.48% | 0.00% | 18.66% | 55.24% |
Healthcare | 3.83% | 0.00% | 26.53% | 97.33% |
Utilities | 2.77% | 0.00% | 18.58% | 43.05% |
Energy | 0.00% | 0.00% | 37.72% | 98.10% |
Stock Geographic Breakdown
Weighting | Return Low | Return High | DSCPX % Rank | |
---|---|---|---|---|
US | 95.35% | 2.58% | 107.74% | 81.36% |
Non US | 0.00% | 0.00% | 97.07% | 64.22% |
DSCPX - Expenses
Operational Fees
DSCPX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 0.90% | 0.01% | 38.30% | 65.03% |
Management Fee | 0.75% | 0.00% | 1.50% | 57.47% |
12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
Administrative Fee | N/A | 0.01% | 0.45% | N/A |
Sales Fees
DSCPX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | N/A | 3.50% | 5.75% | N/A |
Deferred Load | N/A | 1.00% | 5.00% | N/A |
Trading Fees
DSCPX 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.
DSCPX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 44.00% | 1.00% | 314.00% | 51.31% |
DSCPX - Distributions
Dividend Yield Analysis
DSCPX | Category Low | Category High | DSCPX % Rank | |
---|---|---|---|---|
Dividend Yield | 0.60% | 0.00% | 42.47% | 12.05% |
Dividend Distribution Analysis
DSCPX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Quarterly | Annual | Quarterly | Annual |
Net Income Ratio Analysis
DSCPX | Category Low | Category High | DSCPX % Rank | |
---|---|---|---|---|
Net Income Ratio | 0.49% | -2.40% | 2.49% | 30.29% |
Capital Gain Distribution Analysis
DSCPX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Distributions History
Date | Amount | Type |
---|---|---|
Sep 16, 2024 | $0.026 | OrdinaryDividend |
Mar 15, 2024 | $0.025 | OrdinaryDividend |
Dec 26, 2023 | $0.034 | OrdinaryDividend |
Dec 04, 2023 | $0.021 | CapitalGainShortTerm |
Dec 04, 2023 | $0.179 | CapitalGainLongTerm |
Sep 15, 2023 | $0.026 | OrdinaryDividend |
Jun 15, 2023 | $0.030 | OrdinaryDividend |
Jun 15, 2023 | $0.415 | CapitalGainLongTerm |
Mar 15, 2023 | $0.099 | OrdinaryDividend |
Dec 27, 2022 | $0.029 | OrdinaryDividend |
Jun 15, 2022 | $0.940 | CapitalGainLongTerm |
Dec 28, 2021 | $0.133 | OrdinaryDividend |
Dec 03, 2021 | $0.249 | CapitalGainShortTerm |
Dec 03, 2021 | $1.276 | CapitalGainLongTerm |
Jun 15, 2021 | $0.983 | CapitalGainShortTerm |
Jun 15, 2021 | $0.195 | CapitalGainLongTerm |
Dec 28, 2020 | $0.176 | OrdinaryDividend |
Dec 04, 2020 | $0.851 | OrdinaryDividend |
Jun 26, 2020 | $0.044 | CapitalGainLongTerm |
Jun 15, 2020 | $0.019 | OrdinaryDividend |
Dec 27, 2019 | $0.033 | OrdinaryDividend |
Dec 05, 2019 | $0.205 | CapitalGainLongTerm |
Jun 14, 2019 | $0.064 | OrdinaryDividend |
Jun 14, 2019 | $0.019 | CapitalGainLongTerm |
Dec 06, 2018 | $0.117 | CapitalGainLongTerm |
Jun 15, 2018 | $0.144 | CapitalGainLongTerm |
Dec 04, 2017 | $0.203 | CapitalGainLongTerm |
Jun 15, 2017 | $0.154 | CapitalGainLongTerm |
DSCPX - Fund Manager Analysis
Managers
George Smith
Start Date
Tenure
Tenure Rank
Dec 31, 2014
7.42
7.4%
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
Dec 31, 2014
7.42
7.4%
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.
Tenure Analysis
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.08 | 49.61 | 7.18 | 2.58 |