DAVENPORT & Co LLC

DAVENPORT & Co LLC

DAVENPORT & Co LLC
Last update 2021-07-21 905 Stocks (0 new)
Value $12.96 Bil Turnover 0 %
Top Holdings:
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DAVENPORT & Co LLC Profile

Davenport & Co LLC is an investment services firm based out of Richmond Virginia. The firm was originally established in 1861 by Isaac Davenport, Jr. and Charles E. Wortham as an insurance agency. The company would grow and extend its business to railroads, banks, and insurance companies by 1863. Both of the original founders would be deceased by 1896 and they would be replaced by Virginius Newton and Coleman Wortham, Sr. Davenport & Co continued to grow since then with the president Coleman Wortham, Sr. buying a seat on the NYSE in 1921 and the company selling off its insurance business to Marsh & McLennan in 1924. The company would be merge with Branch and Co. in 1975 and begin expansions in the 1980s, opening up new offices in Virginia Beach, Charlottesville, Williamburg, Newport, and Farmville. Davenport & Co would move into its current headquarters in the One James Center in 1992 and continue to add office locations with new openings in Fredericksburg, Franklin, Roanoke, Lynchburg, White Stone, Norfolk, and Raleigh throughout the 1990s. The company would then launch new programs and strategies such as the FundAdvisor Program and Value & Income Portfolio in the 2000s, reaching $3 billion in managed assets by 2007. Davenport & Co currently has 410 employees with 262 investment professionals. The company invests most heavily in the finance sector, which alone makes up approximately a third of its total asset allocations, and also invests in the consumer discretionary, health care, consumer staples, and information technology sectors, among others, in order of decreasing allocation. Davenport & Co currently holds over $8.6 billion in total assets under management spread across 13,750 accounts, the majority 13,300 of which are discretionary. The company mainly caters to individuals, which alone makes up over half of its client base, and also provides its services to a variety of other clientele. Davenport & Co’s mutual fund offerings currently includes its Core, Value & Income, Equity Opportunities, and Small Cap Focus funds.

DAVENPORT & Co LLC Investing Philosophy

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