Mayo Center - Darden Capital Management

Fund Overview

The Cavalier Fund is a long/short equity fund investing predominately in domestic equities across the investable market capitalization range and targeting net long exposure of 80%. The fund aims to generate positive risk-adjusted returns by utilizing a bottom-up strategy to identify undervalued companies with defensible competitive advantages and long-term earnings potential. Additionally, the ability to short stocks and indices that are expected to decrease in value allows the fund to lower volatility of returns and enhance alpha. Over a medium- to long-term horizon, the fund seeks to outperform the S&P 500 Index through prudent stock selection and portfolio management.

The Cavalier Fund in alignment with the broader goals of Darden Capital Management aims to provide students with a unique learning opportunity to gain practical hands-on experience and enhance their understanding of security valuation and portfolio management with the expectation of furthering their pursuit of careers in the investment management industry.

Portfolio Leadership

Abanikash Rayaji — Senior Portfolio Manager

Prior to Darden, Abanikash worked with Fidelity Investments primarily as a Fund Research Analyst, performing due diligence on Liquid Alternatives and U.S. Small- and Mid-cap Growth funds. He has also worked in product development at Fidelity Investments, focusing on Alternative Investments products. He has an undergraduate degree in Mechanical Engineering and is a CFA Charter holder. He will intern with the Barclays Credit Research team in New York this summer.

Keir Gallick — Portfolio Manager

A native of Bozeman, Montana, Keir spent his years before Darden in the Mountain West. He graduated with a bachelor's degree in finance from Colorado Mountain College and has completed two levels of the CFA. After graduation Keir spent two years working in wealth management before switching to commercial lending at Timberline Bank. He worked there for three years before moving to Virginia and starting at Darden.

Raffy Howe — Portfolio Manager

Prior to Darden, Raffy worked as an Associate at Promontory Financial Group, a consulting firm focused on regulatory compliance, risk, and strategy. Initially based out of the Tokyo office, Raffy worked on and led numerous engagements across multiple countries, including Hong Kong, Copenhagen, and Helsinki, before finally joining the New York office as a member of the Financial Crimes Compliance and Digital Assets team. Raffy started his career as a Financial Representative with Northwestern Mutual, where he sourced and secured clients for his financial planning business. Raffy graduated from Colorado College with a B.A. in Economics. This summer, he will be interning in investment banking with Bank of America’s Healthcare Group.

Dexter Moyo — Portfolio Manager

Prior to Darden, Dexter worked as a Senior Finance Analyst at Equinor, a Norwegian oil and gas company. A qualified Chartered Accountant and Accounting graduate from the University of South Africa. Dexter spent several years working with some of the Big 4 audit firms, most notably in the Structured Finance Group at PWC working on issuances of securitized notes. While at KPMG, Dexter worked in the Risk Consulting team, where he conducted comprehensive risk assessments for a host of investment banks and brokerage companies in London. This summer Dexter will be interning with the Restructuring Group at Houlihan Lokey.

Cavalier Fund Investment Thesis

The Cavalier Fund strategy focuses on long-term performance through prudent security selection, portfolio diversification techniques, and the benefits of enhanced returns and lower volatility generated through short positions. The fund intends to minimize cash allocation and portfolio managers may invest opportunistically across sectors.

For long positions, the fund employs a bottom-up investment approach focused on identifying undervalued investment opportunities relative to long-term earnings potential using fundamental analysis. For short positions, the fund seeks to identify companies with flawed business models, unsustainable performances or financial positions, overly optimistic analyst expectations, and/or signs of potential earnings manipulation and may also consider event/catalyst-driven opportunities.

Our fund will hold approximately 15-25 long positions at all times. As well, the value of our short positions will not exceed 20% of our total assets. The Cavalier Fund is able to invest in all capitalizations and sectors, excluding the microcap designation.

Fund Overview

The Colonnade Fund is a Real Estate Fund investing in primarily publicly traded real estate securities, including REITs and other real estate related stocks. The portfolio can also hold bonds, cash, and ETFs related to the real estate industry. The Fund will seek to invest in single name positions in equity REITs, mortgage REITs, and infrastructure securities. In terms of allocation, the fund will strive to hold 65% of the portfolio in publicly traded REITs and the remaining 35% in real estate adjacent securities. Over the medium to long term, the fund will seek to outperform the FTSE NAREIT US Real Estate Index.

Additionally, the Colonnade Fund, in alignment with the broader goals of Darden Capital Management, aims to provide students with a unique learning opportunity to gain practical hands-on experience investing in real estate securities. Students interested in a career in real estate or the broader investment management industry would find this opportunity extremely useful.

Allen Tam — Senior Portfolio Manager

Prior to Darden, Allen worked at Wells Fargo Securities as an Investment Banking Associate on the Fund Finance team, where he helped advise and provide over $15 billion in financing to private equity style funds and other asset managers. Allen started his career in Wells Fargo’s Middle Market Banking Group as an analyst in the Financial Analyst Program. Allen graduated summa cum laude from the University of Texas at Dallas with honors with degrees in Finance and Business Administration. This summer, he will intern in investment banking at Guggenheim Partners’ Private Equity Advisory group working on sell-side M&A for financial sponsor relationships.

Christie Carpenter — Portfolio Manager

Prior to Darden, Christie was a Consultant with the Turnaround and Restructuring Strategy team at EY-Parthenon, supporting distressed entities through restructuring. While at EY-Parthenon, she also completed a rotation with the Growth Strategy group, advising private equity firms on acquisitions and sales. Christie graduated from The George Washington University with a Bachelor of Business Administration and a Minor in Italian Language and Literature, and was awarded a Fulbright grant in Spain. This summer, she will be interning with the Real Estate team at Partners Group.

Patrick Kearney — Portfolio Manager

Prior to Darden, Patrick was a Military Intelligence Officer in the Army supporting U.S. Space Command where he specialized in foreign satellites and space capabilities. While in the Army, Patrick completed a combat deployment to Afghanistan and various overseas deployments to Eastern Europe. Patrick graduated from the United States Military Academy at West Point with a Bachelor of Science in Economics.

Sheldon Gray — Portfolio Manager

Prior to Darden, Sheldon was a Strategist at DeSantis Breindel, a brand strategy consulting firm based in New York. As a Strategist, Sheldon worked closely with real estate, financial services, and life sciences clients to build brands that powered their business strategies. Sheldon graduated from the University of Virginia with a B.A. in English Language and Literature and Spanish Language and Literature. This summer, he is interning at Blackstone on the Real Estate team.

Fund Overview

The goal of the Darden Fund management team is to deliver returns that exceed our benchmark while incurring a comparable level of risk. We believe that superior risk-adjusted returns will result from primary, value-added research that leverages our general management education at Darden.

Our equity investment strategy is focused on the small-cap segment; our equity portfolio benchmark is the S&P SmallCap 600. We believe that markets are least efficient in the small-cap arena, offering us the greatest opportunity for generating positive alpha. Furthermore, while we are focused on bottom-up research, we are optimistic about a reversal of the long bear market. Small-caps have historically outperformed in the initial stages of a bear market, offering additional upside potential to the Darden Fund.

Small companies typically carry more firm-specific risk than larger firms. As a result, the current management team will ensure adequate diversification by holding a larger number of equity positions (~40) than has been true historically (~25). In addition, careful attention will be paid to matching industry exposure to the benchmark. 

Portfolio Leadership

Dillon Baley  — Senior Portfolio Manager

Prior to Darden, Dillon served as an Associate at Solomon Partners, a leading financial advisory firm with a legacy as one of the oldest independent investment banks, affiliate of Natixis, a French financial services firm owned by a top 20 global bank, Group BPCE. Dillon joined Solomon Partners within the firm’s Energy Group in Houston before transitioning to the firm’s Mergers & Acquisitions Group in New York City. Prior to Solomon, Dillon worked as a financial analyst at BVA Group, a nationally recognized litigation, valuation, and financial advisory firm with offices in Houston and Dallas. He graduated with Honors from The University of Texas McCombs School of Business with a BBA in Finance. This summer, Dillon will be interning with WJ Partners, a lower-middle market private equity firm located in Spartanburg, SC.

Sam Arayedupin— Portfolio Manager

Prior to Darden, Sam was an associate in the Deal Advisory Division of PwC, where he played a pivotal role in various critical financial processes such as valuation, capital restructuring, financial due diligence, and M&A transactions. Prior to his stint at PwC, Sam honed his expertise as an equities research analyst at Coronation Asset Management, a top-tier investment management firm in Nigeria. For two years, he worked diligently, utilizing his skill set to analyze market trends, identify potential investments, and advise clients on market opportunities. Sam earned a B.S. in Chemistry from the University of Ilorin. He will be interning as an investment banking associate at Evercore this summer.

Beza Bisrat— Portfolio Manager

Before attending Darden, Beza was a consultant at Nexight Group consulting services. While at Nexight, she conducted workshops across four continents and developed technology roadmaps, landscape analyses, and technical reports in the areas of smart manufacturing, critical infrastructure and sustainability. Beza also spent three years in consumer-packaged goods manufacturing and operations, launching new products and production lines for Danone North America and General Mills. Beza graduated with a Bachelor of Science in Chemical Engineering from Northwestern University. She will be interning at PepsiCo this summer in their corporate finance department.

Kate Grusky — Portfolio Manager

Prior to Darden, Kate worked as an Investment Research Analyst for the manager selection/capital allocation team at Brown Brothers Harriman (BBH), a privately-owned bank based in New York. She conducted due diligence and invested across asset classes on behalf of BBH’s $55bn client base. She also spent three years working with clients based in Latin America as part of the Latin America team within BBH’s Multi-Family Office. Kate graduated with honors from Brown University with a B.A. in History and Latin American Studies. She will be interning at UVIMCO in Charlottesville, VA this summer.

Darden Fund Investment Thesis

We believe that the market is least efficient in small-cap segment offering the greatest opportunity for generating positive alpha. Small cap stocks have outperformed mid and large-cap stocks for six consecutive years, and continued this trend in 2004 outperforming the general market by 10%.

It will be difficult for small-cap stocks to continue these outsized returns particularly in an environment of rising interest rates, which has traditionally favored large-cap stocks. However, The Darden Fund managers aim to outperform our competitive benchmarks through a process of disciplined fundamental research and analysis. By leveraging our team’s diverse experiences and educational foundations, we hope to realize superior returns while remaining conscious of the inherent risk of our investments.

Fund Overview

The objective of the Jefferson Fund is to maximize investment returns, while at the same time minimize systematic risk. Diversification is not only achieved at the sector/industry level, but also through asset allocation. As part of Darden Capital Management, the Fund’s other objective is to provide students with an opportunity to enhance their understanding of security valuation and portfolio valuation techniques, with the expectation of furthering their pursuit of careers in the asset management industry.

The Jefferson Fund seeks to generate excess returns through a value-based strategy, whereby out of favor or undervalued investment opportunities are identified primarily through a bottom-up process. We believe that this style of investment, which emphasizes the importance of valuation and seeks to identify companies trading at a discount to their intrinsic value, will lead to consistent long-term outperformance. The Jefferson fund concentrates on companies with market capitalizations in excess of $1 billion and with deep and sustainable competitive moats, which we believe positions the fund to capture above average investment returns. At any given time, the Fund will hold between 15-30 positions. Individual holdings will be limited to a maximum of 6% at time of investment.

According to the Fund’s mandate, it will hold a maximum of 30% of market value in international stocks, 20% in ETFs, and 30% in gross short exposure. From time to time, the Fund may invest opportunistically in corporate bonds or US Government issued securities. The managers intend to minimize the cash allocation.

The Fund is managed against the Russell 1000 Value Index.

Portfolio Leadership

Ian Ceraolo — Senior Portfolio Manager

Prior to Darden, Ian worked in national electoral politics. In the 2022 and 2020 election cycles, he was a senior staffer at two of the biggest independent expenditure groups focused on the U.S. House and Senate, respectively. Earlier in his career, he managed statewide electoral programs in New Hampshire, and served in the Office of the Governor of Virginia. He has dual Bachelors of Science degrees in Economics and Political Science with minors in Statistics, Business Administration, and International Affairs, from Florida State University. This summer, he will be interning with the Tech, Media, and Telecom group at Wells Fargo Securities in New York.

Naveen Reddy — Portfolio Manager

A Chartered Accountant turned MBA candidate at UVA Darden, Naveen brings finance expertise from roles at Wipro and Swiggy, managing business finance, developing innovative reporting systems, and driving strategic financial decisions. With a Bachelor of Commerce in Accounting and Finance and strong proficiency in Python, SQL, and data analytics, he blends financial acumen with a keen understanding of data-driven decision-making. This summer, he will intern with Walmart Strategy, focusing on finance-driven projects to optimize last-mile delivery and unlock market growth opportunities.

Olusegun Rowaiye — Portfolio Manager

Prior to joining Darden, Olusegun worked as a Corporate Development Manager at Celestica where he partnered with the Industrial & Smart Energy segments to execute strategies that accelerated organic and inorganic growth. Prior to his experience at Celestica, he worked as a Finance Senior Manager at Canadian Imperial Bank of Commerce, where he provided financial advisory as a business partner to the Capital Markets group. Earlier in his career, he worked at Deloitte where he managed teams that provided assurance and due diligence services to clients across banking, wealth management and private equity. Olusegun graduated from the University of Lagos with a Bachelor of Science in Accounting and holds a Master of Science in Financial Management from Edinburgh Business School, Heriot Watt University. This summer, he will be interning with the Financial Sponsors group at Credit Suisse in New York.

Malcolm Stewart — Portfolio Manager

Malcolm Stewart is a 2018 graduate of the Frank Batten School of Leadership and Public Policy and has returned to UVA as a 2024 MBA candidate at the Darden School of Business, where he is a Breakthrough Scholar, a Future Year Scholar and a Consortium Fellow. In between undergrad and Darden, Malcolm worked as a Product Manager at Makena Capital Management, an asset management firm based in Silicon Valley. During his time at UVA, he served as President for the Class of 2018, Head Resident of the Lawn, and was the recipient of the Sky Alland Scholarship, a full ride scholarship awarded to a 4th year student who exemplifies the five qualities of Leadership, Achievement, Enterprising Spirit, Humility and Devotion to the University. Today, Malcolm serves on the Executive Committee of the Frank Batten School’s Foundation Board, is a Trustee for the Sky Alland Scholarship Selection Committee and serves on President Jim Ryan's African American Advisory Group.

Jefferson Fund Investment Thesis

The Jefferson Fund seeks out of favor or undervalued investment opportunities. At any one time, we intend to hold between 15-30 equity positions. The managers will have no industry bias and will invest opportunistically in any and all sectors. The Fund will purchase companies with a minimum market capitalization of $1 billion, with no maximum capitalization. Because of the managers’ bias towards undervalued companies and businesses that demonstrate high returns on invested capital, the managers expect new investments to concentrate on companies with market capitalizations on the lower end of the Fund’s mandate. From time to time, the managers may identify and invest in undervalued companies with larger capitalization.

Managers intend to minimize the cash allocation.

Fund Overview

The Monticello Fund’s philosophy begins with the premise that superior returns over time can best be achieved through investment in undervalued companies with superior and sustainable growth prospects while integrating macroeconomic and local market factors into stock selection decisions. As a result, the Fund will consist of a blend of companies domiciled around the globe.  By employing a bottom-up approach with intensive research focused on company fundamentals and macroeconomic and local market factors, the Fund’s managers are able to identify undervalued, financially strong, and well-managed domestic and international companies in a global sector context.  Further, the managers each strive to continuously educate ourselves with regards to investment analysis and portfolio management theory. The Fund's benchmark is MSCI All Country World Index.

Portfolio Leadership

Jong Sheng Ong— Senior Portfolio Manager

Prior to Darden, Jong Sheng served as a Vice President with the Corporate Development team at DBS Group, Southeast Asia’s largest bank, where he focused on executing strategic investments across Asia. He also worked as an investment banker at Deutsche Bank and Standard Chartered Bank in Singapore, advising clients on a range of M&A and capital market transactions. Jong Sheng began his career as an investment associate with Khazanah Nasional, Malaysia’s sovereign wealth fund, where he focused on aviation investments. He graduated from the University of Melbourne with a Bachelor of Commerce in Accounting and Finance. This summer, Jong Sheng will be interning at J.P. Morgan’s Technology Investment Banking Division in San Francisco.

Feyi Ilemore— Portfolio Manager

Prior to Darden, Feyi Ilemore worked as an Equity Research Analyst with Rand Merchant Bank Nigeria, a leading African corporate and investment bank. She focused on providing financial analysis and investment recommendations to institutional investors on Nigeria’s publicly traded companies in the consumer and industrial sectors. She also worked as an Equity Research Analyst with ARM Investment Managers and CardinalStone, both multi-asset investment management firms in Nigeria. Feyi graduated from Covenant University with a Bachelor of Science in Economics and holds a Master of Science in Economics from the University of Edinburgh. She will intern at Evercore as an Investment Banking Associate in New York this summer.

Mikheil Nakashidze, CFA — Portfolio Manager

Prior to Darden, Mikheil led the Healthcare Corporate & Investment Banking (CIB) efforts of Bank of Georgia, the largest bank in the country. Before that, he held several roles at the bank, including Regional Head of CIB in Western Georgia. During his tenure, he closed transactions worth over $200 million. Mikheil is a CFA Charterholder and earned his BA in Economics in Warsaw, Poland, where he also worked at Citibank. Beyond finance, Mikheil's interests include road trips, hiking, following Real Madrid and Formula 1 racing, and continuously broadening his knowledge on a variety of subjects. This summer, he will intern at Moelis & Company New York Office as an Investment Banking Summer Associate.

Devin Waddell — Portfolio Manager

Before Darden, Devin was an Associate in the Diversified Industrials and Renewables groups at HSBC. In his role, Devin collaborated with cross-functional teams to manage 20+ global banking relationships, cross-sell banking products, and assist with capital financings and M&A. Devin graduated with bachelor’s degrees in chemical engineering and finance from Auburn University. He also received a master’s in management studies from the Fuqua School of Business at Duke University. Devin has completed two levels of the CFA program.

Monticello Fund Investment Thesis

Buy decisions are based on a rigorous research process that pays special attention to relative valuation on a local market and broad sector basis, profitability, management strength and competitive advantage while taking into consideration both global market and business risk.  As a result, the Fund will be comprised of approximately 20-40 individual equity holdings with differing market capitalizations from a variety of countries and sectors.

Fund Overview

The Rotunda Fund integrates sustainability research with fundamental analysis to select investments that are likely to outperform the market due to the improved long-term financial performance and lower risk features that accompany sustainable practices.  Sustainability research provides unique and valuable insights into management and internal operations of an organization.  Companies with sound environmental, social and governance (“ESG”) practices have competitive advantages over their peer institutions; these competitive advantages can include lower costs due to efficiency, reduced risk of litigation/environmental liabilities, and lower volatility of raw material costs.  Therefore, sustainability practices are expected to yield market-outperforming risk-adjusted returns.  The Rotunda Fund integrates sustainability research with fundamental analysis to purchase “best in class” companies at attractive valuations. 

Portfolio Leadership

Alex Hassan — Senior Portfolio Manager

Prior to Darden, Alex was a Portfolio Manager and Investment Analyst at Edge Capital Group, an investment management firm headquartered in Atlanta, GA. In this role, Alex managed assets for ultra-high-net-worth individuals, families, and institutions. He also held a role within Edge Capital’s research team, where he provided initial and ongoing due diligence for investment opportunities across multiple asset classes. Alex also worked at Ferguson Ventures, where he led deal flow activity for the corporate venture capital arm of Ferguson Enterprises. Alex graduated from Hampden-Sydney College with a B.A. in Economics and Business. He will be interning with Barclays’ Natural Resources Group in New York City as an Investment Banking Summer Associate.

Chao Niu — Portfolio Manager

Prior to Darden, Chao served as an Investment Banking Vice President at Standard Bank, Africa’s largest bank, where he focused on executing different kinds of power, renewable and infrastructure transactions across the sub-Saharan African region. Chao began his career as an investment banking analyst at Standard Bank and has almost a decade of experience in the advisory and financing space, particularly in project finance structuring and arranging. He graduated from the University of Cape Town with a Bachelor of Business Science in Accounting and Finance. This summer, Chao will be interning at Credit Suisse Investment Banking Division in New York.

Samiha Zaker — Portfolio Manager

Prior to Darden, Samiha worked as an Associate Director at Standard Chartered Bank in Bangladesh, in the Corporate, Commercial and Institutional Banking division. In this client coverage role, she worked with a portfolio of large corporations focused on their debt financing proposals to deliver working capital, financing, trade, cash and financial markets solutions. She graduated summa cum laude from the University of Dhaka with a Bachelor of Business Administration. This summer, Samiha will be interning at Morgan Stanley’s Investment Banking Division in San Francisco.

Jessica Zhang — Portfolio Manager

Prior to Darden, Jessica worked at a unicorn as a data scientist in the social media industry. Having graduated with a bachelor of science in Human Geography and Urban Planning from East China Normal University, she worked with teams from China, the U.S. and some African countries and lived in San Diego, California for several years. With long-term interest in private equity and operations, Jessica joined Darden to polish her finance skills. This summer she will intern on the Performance Improvement team at AlixPartners. 

Rotunda Fund Investment Thesis

The Rotunda Fund employs a two-step process to select and evaluate opportunities: a threshold step (size and information availability) and an investment evaluation step (ESG, industry, and financial evaluation). 

The threshold step requires (i) market capitalization of $500 million and above and (ii) sufficient disclosure of relevant sustainability-related data.  It is expected that companies reporting under the Carbon Disclosure Project, or a similar industry-standard report, will fulfill this threshold of required disclosure.  Alternatively, companies that publish a corporate sustainability report and/or are required to report data to the US Environmental Protection Agency, such as the chemical and utility industries, will also meet the threshold criteria. 

The companies that meet the requirements in the threshold step will then be analyzed in a three-part investment evaluation step.  This investment evaluation step seeks companies with:

1. Best-in-class ESG metrics relative to peer companies and industry best practices.
2. Industry or industries served, and position within those industries, that is conducive to long-term financial strength.
3. Superior fundamentals, both qualitative and quantitative/valuation, which indicate the potential for favorable risk-adjusted returns.

The 12th annual Darden at Virginia Investing Challenge (DVIC) stock pitch competition will take place at the Darden School of Business in Charlottesville, VA on 2 November 2023.

Our stock pitch competition is typically held in conjunction with the University of Virginia Investing Conference (UVIC). UVIC will be held on 3 November in 2023. DVIC brings to Charlottesville teams of students from top MBA programs to compete for cash prizes. 

The challenge selects a different theme each year to frame each school's stock pitch. Competing teams have the opportunity to present their pitches in front of judges from the investment management industry in a two-round format. 

The competition provides an ideal training ground for MBA students interested in the investment management profession as it gives students the opportunity to practice their stock pitching skills. Additionally, the challenge leverages UVIC which provides a forum for recruitment and knowledge sharing, as UVIC brings together nearly 500 investment professionals, recruiters, and students each year.  

Listen to a WSJ podcast featuring an interview with the 2016 winning team, the Wharton School of the University of Pennsylvania.

DCM Resources

Darden Capital Management (DCM) provides a variety of resources for helping students manage portfolios and learn about the markets. Each year, Darden Capital Management leads a series of trainings that follow the structure below:

• Utilizing available resources to monitor investment holdings
• Introduction to pitching a stock
• Comparing companies across sectors
• Portfolio theory
• Managing through market cycles

These trainings are led by both the DCM leadership team and University of Virginia alumni who have expertise in these areas. In addition to formal training, members of DCM have access to databases, research and speaker events. These resources include:

• FactSet, Bloomberg, S&P Capital IQ, Investext, Morningstar, PitchBook, and others
• Written guides and presentations from the trainings
• Access to the Wall Street Journal and Barron’s
• Guest speakers and lunch & learn events

For any questions about Darden Capital Management research and training, please contact Nishit Shah.

The Advisor

Current Issue: Spring 2023

The Advisor is a newsletter dedicated to highlighting the activities of Darden Capital Management, a student run club responsible for managing approximately $26 million of Darden’s endowment. Each edition features a Q&A session with an asset manager, a review of the funds’ activities and holdings as well as several stock pitches from our classmates.

This newsletter has two objectives: to raise awareness of Darden Capital Management and to contribute to Darden’s recognition as a high-caliber finance and asset management school. The publication will be distributed electronically four times a year, positioned so that we can reflect on the prior quarter’s activity.

The newsletter is distributed electronically to the current Darden community, members of the Darden Foundation investment committee, Darden and UVA alumni working in the asset management industry, prior Darden Capital Management Portfolio Managers and contacts of Darden Capital Management members.

We look forward to sharing the activities of Darden Capital Management.

To be added to the electronic distribution list send an email to Pablo A. Fleitas.

The Advisor Archive

• Fall 2022
• Spring 2022
• Winter 2021
• Fall 2021
• Spring 2021
• Winter 2020
• Fall 2020
• Spring 2020
• Winter 2019
• Fall 2019
• Spring 2019
• Winter 2018
• Fall 2018
• Spring 2015
• Fall 2012
• Fall 2011
• Summer 2010
• Fall 2008
• October 2007
• July 2007
• April 2007
• October 2006
• March 2006
• November 2005
• May 2005
• November 2004
• May 2004
• February 2004
• November 2003
• May 2003
• February 2003
• November 2002

Berkshire Hathaway

Each year eight students from both first and second year are invited to travel to Omaha, Nebraska, to attend the Berkshire Hathaway shareholder meeting thanks to the generous donation of a Darden alumnus.

If you are interested in learning more about the shareholder meeting please visit http://www.berkshirehathaway.com/.

DCM Partners

• Trustees of the Darden School Foundation
• McIntire Investment Institute

Fund Managers

Each of the five funds is managed for a full year by a team of Second Year students at the Darden School. Each team consists of one senior portfolio manager and three portfolio managers. In addition to the hands-on experience of managing a significant amount of capital and the opportunity to meet with and present to the Darden School Foundation’s Board of Trustees, the managers receive 4.5 class credits toward their MBA. Managers are selected in February of their First Year on the following criteria:

• Overall commitment to the club as a First Year.
• Commitment to stock selection and asset management in general.
• Recommendations from the previous year’s portfolio managers and analysts.
• The quality of investment ideas presented to the funds during the first year — both on “Super Sunday” events and in individual fund meetings.
• An interview with the Darden Capital Management faculty advisor, Pedro Matos.
• A one-page letter outlining the improvements the applicant would like to make to the club in the coming year and how they would benefit from being involved with the management of the funds.

Members

All members of Darden Capital Management are encouraged to take advantage of every aspect of the club. Monthly meetings of the club will often feature presentations by industry professionals, résumé and interviewing workshops, and reviews of the funds’ activities (see the Calendar for details). Additionally, each of the five funds welcomes members to attend any of the weekly, individual fund meetings, and the funds strongly encourage students to present investment ideas for consideration. All members will find that attending fund meetings are a valuable way to prepare for the interviewing process. Please feel free to contact any of the DCM fund managers with any additional questions.