Davenport's Response to the COVID-19 Outbreak CLIENT LOGIN Menu Davenport Core Fund Davenport Core 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 Volatility: Seek low-risk investing opportunities Portfolio Construction The portfolio typically owns 45-55 stocks Position sizes typically start in the 1-2% range Broad sector diversification Low portfolio turnover Risk Management Tend to avoid significant balance sheet or business risk Valuation sensitive with focus on margin of safety embedded in purchase price Setting upside and downside price targets for all positions Typically close to fully invested Portfolio Management Investment Policy Committee 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 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. STRATEGIES DAVPX FACTSHEET FUND FACTS TICKER DAVPX MARKET CAP BIAS Large Cap FUND CLASS No Load INCEPTION 1/15/1998 GROSS EXPENSE RATIO 0.89% TARGETED HOLDINGS 45-55 LINKS PROSPECTUS, DOCUMENTS, AND APPLICATIONS ADDITIONAL INFORMATION DAVPX Holdings Corporate Headquarters: One James Center | 901 East Cary Street, Suite 1100 | Richmond, Virginia 23219 DIRECTIONS © 2021 DAVENPORT & COMPANY LLC MEMBER: NYSE | FINRA | SIPC ALL RIGHTS RESERVED