Richard A. Mayo Center for Asset Management

Mayo Center - Darden Capital Management - Darden Executive Fund

Darden Executive Fund

Darden Executive Fund

The Darden Executive Fund (DEF) is the investment platform for Executive MBA and Part-Time MBA students at the University of Virginia’s Darden School of Business. Its mission is to provide hands-on experience in real capital management through disciplined, team-based strategy investment. Operating under the principles of integrity, accountability, and long-term thinking, DEF enables students to apply core concepts in valuation, asset allocation, and risk analysis in a real-world investment environment. In short, The Darden Executive Fund empowers Executive and Part-Time MBA students to apply real-world investing principles through collaborative, disciplined strategy management.

The DEF is designed to mirror the professionalism of Darden Capital Management (DCM) while creating a distinct, high-performance culture within the Executive and Part-Time MBA community. It serves as a capstone for investment education and leadership development, encouraging collaboration, critical thinking, and strategic execution.

To reflect both the complexity of modern capital markets and the need for focused team accountability, the DEF is structured into three distinct strategies. Each strategy is responsible for a strategic subset of the US equity landscape, grouped by complementary GICS sectors. This design allows DEF members to build deep sector expertise while also fostering collaboration across economic themes. Each strategy is led by a designated Vice President who guides research priorities, manages team coordination, and ensures alignment with DEF’s mission. Together, the strategies create a holistic framework for investment decision-making across asset classes and market environments.

  • Leadership Team

    Leadership Team

    DEF CEOCharlie Lizza, Chief Executive Officer
    Full Time Role: Top Corner Consulting

    Charlie Lizza is a Manager at Top Corner Consulting, where he leads operational and communications strategy for national security clients across investment planning, acquisition support, and enterprise decision-making. His work has included developing communications strategies in response to Presidential requests and briefing oversight officials up to the Undersecretary of War. He also advises Hala Systems, an AI-enabled geospatial analytics startup, on go-to-market strategy and commercialization. He holds a B.A. in Psychology from Tufts University, an M.A. in Intelligence and International Security from King's College London, and is pursuing his MBA at Darden (Class of 2027).

     

    DEF CIOAaron Wall, Chief Investment Officer
    Full Time Role: Fidelis Capital Partners

    Aaron Wall is a Partner and Portfolio Manager at Fidelis Capital. Aaron joined the team as a founding member of the Fidelis Capital D.C. office. In his role as a Portfolio Manager, Aaron works closeley with ultra-high net worth families institutions to provide guidance, execution, ongoing managment, and advice on multi-asset class investment portfolios. Aaron is a Chartered Financial Analyst.

     

    DEF CIOZeke Gutiérrez, Chief Operating Officer
    Full Time Role: Capital One

    Zeke Gutiérrez is a Manager of Corporate Enhancements at Capital One, where he has led HR systems & post-merger integration initiatives with the Discover & Capital One merger. His background centers on M&A integration, with prior experience as a Manager in PwC's Consulting practice, advising clients across 15+ countries on separations, integrations, divestitures, and carve-outs throughout Latin America. Fluent in English, Spanish, and Portuguese, Zeke brings expertise to complex multinational transactions. He holds a B.S. in Foreign Service from Georgetown University and is pursuing his Executive MBA at Darden (Class of 2027).

  • The Jefferson Strategy

    The Jefferson Strategy

    Strategy Overview

    The Jefferson Strategy is the forward-looking engine of the Darden Executive Fund, focused on innovation, disruption, and transformative potential. Covering technology, communications, and health care, this strategy aligns with the intellectual and visionary legacy of Thomas Jefferson - founder of the University of Virginia and champion of the Enlightenment. Just as Jefferson believed in progress through knowledge and invention, this strategy seeks opportunities in sectors that redefine how we live, connect, and heal. The Jefferson Strategy embraces complexity, plans for uncertainty, and invests in companies positioned to lead future systems, platforms, and breakthroughs.

    Sectors: Technology, Communications, Health Care

     

    DEF Jefferson StrategyKaitlyn Coyne, Vice President – Jefferson Strategy
    Full Time Role: Vice President, Goldman Sachs

    Kaitlyn is a Vice President in the Asset and Wealth Management Division of Goldman Sachs. Since joining, Kaitlyn has led Goldman Sachs' Community Team Works program in the Washington DC office, which seeks to give back to the local community through service projects. Prior to joining Goldman Sachs, Kaitlyn served as a Finance Analyst at Freddie Mac. Kaitlyn graduated from Smith College, receiving a Bachelor’s degree in Economics and Government. Outside of work, she is the Chair of the Young Professionals Board for Food & Friends, VP of Finance for Darden's Network of Executive Women (NEW), and serves as a friendly visitor to senior citizens in Alexandria, VA. She grew up on Long Island, New York and joined Goldman Sachs in 2020.

     

    DEF Jefferson StrategyChandler Emberlin, Portfolio Manager – Jefferson Strategy
    Full Time Role: Senior Financial Analyst, Navy Federal Credit Union

    Chandler Emberlin is a Senior Financial Analyst at Navy Federal Credit Union, where he focuses on strategic planning and business performance. Prior to Navy Federal, he worked at EY and Grant Thornton, advising financial services and public sector clients. Chandler is currently pursuing his MBA at University of Virginia Darden School of Business and earned his undergraduate degree in Finance from James Madison University. He is also a member of the Fairfax County Rotary Club.

     

    DEF Jefferson StrategyOwen Kimura, Portfolio Manager – Jefferson Strategy
    Full Time Role: Structured Finance Analyst, Voltswagen Financial Services

    Owen Kimura is a Structured Finance Analyst at Volkswagen Financial Services who supports the execution and ongoing management of asset-backed securities (ABS) transactions that raise capital for Volkswagen Group of America. He collaborates with investment banks, rating agencies, trustees, and cross-functional internal stakeholders to execute public and private securitization transactions backed by auto loans or leases. His responsibilities include analyzing collateral performance, coordinating transaction execution, monitoring outstanding securitization trusts, and preparing investor and regulatory reporting.

     

    DEF Jefferson StrategyEric Robinson, Portfolio Manager – Jefferson Strategy
    Full Time Role: Senior Business Analyst, Capital One

     

     

     

     

    DEF Jefferson StrategyMichael Rutledge, Portfolio Manager – Jefferson Strategy
    Full Time Role: Founder, Flex Charting / Polymathic

    Michael Rutledge is the founder of Flex Charting, a financial technology company providing real-time charting, analytics, and custom trading tools for trading educators and active investors. He has led the company from product development through commercialization, building a profitable software platform serving thousands of paying customers. Michael’s career spans entrepreneurship, product strategy, financial technology, and early-stage investing. He is an active venture investor through Okeanos Venture Partners. He is recognized for combining technical product development with practical go-to-market execution, particularly in markets where user behavior, data infrastructure, and customer education intersect. Michael is pursuing his Executive MBA at Darden, Class of 2026.

     

    DEF Jefferson StrategySophia Stackhouse, Portfolio Manager – Jefferson Strategy
    Full Time Role: Senior Client Relations Analyst, Sands Capital Management, LLC

    Sophia Stackhouse is a Senior Client Relations and Project Analyst at Sands Capital, where she has held progressively senior roles in client relations since joining the firm in 2021. Prior to Sands Capital, she was a Senior Consultant at Significance, Inc. and held financial analyst and treasury operations roles at Fidelity Investments. Sophia earned a Bachelor of Arts from Dartmouth College, where she was a member of the varsity women’s rowing team. She is currently pursuing her MBA at the University of Virginia Darden School of Business.

     

    DEF Jefferson StrategyAaron Wall, Portfolio Manager – Jefferson Strategy
    Full Time Role: Partner, Fidelis Capital Partners

    Aaron Wall is a Partner and Portfolio Manager at Fidelis Capital. Aaron joined the team as a founding member of the Fidelis Capital D.C. office. In his role as a Portfolio Manager, Aaron works closeley with ultra-high net worth families institutions to provide guidance, execution, ongoing managment, and advice on multi-asset class investment portfolios. Aaron is a Chartered Financial Analyst.

  • The Madison Strategy

    The Madison Strategy

    Strategy Overview

    The Madison Strategy centers on the flow of capital, consumption, and the institutions that support economic life. Its sectors - consumer staples, consumer discretionary, financials, and real estate - reflect how people live, spend, save, and build. Modeled after James Madison, the architect of the U.S. Constitution and a steward of systemic design, this strategy is focused on companies and sectors that represent both individual choice and collective infrastructure. The Madison Strategy emphasizes balance, fundamental value, and responsiveness to shifting economic conditions - grounded in an understanding of how policy, demographics, and sentiment shape both markets and society.

    Sectors: Consumer Staples, Consumer Discretionary, Financials, Real Estate

     

    DEF Madison StrategyAlbert Hernandez, Vice President – Madison Strategy
    Full Time Role: Vice President - Leasing & Acquisitions, Colliers

    Albert Hernandez is a commercial real estate investment professional with 18+ years of experience in transaction execution and institutional advisory. As Vice President of Leasing & Acquisitions at Colliers, he drives deal origination across retail, restaurant, industrial, and mixed-use assets, with a track record of $186M in transactions. He has helped increase portfolio valuations through strategic acquisitions, asset management, and C-suite advisory capabilities, leveraging his expertise in comprehensive due diligence and financial modeling. He holds the CCIM designation, an MSRE from Georgetown University, and a B.S. from the University of Texas at Austin. He is an Executive MBA Candidate at Darden (Class of 2027) and serves as President of the Prof. Degrees Real Estate Club.

     

    DEF CIOZeke Gutiérrez, Chief Operating Officer
    Full Time Role: Corporate Enhancement Manager, Capital One

    Zeke Gutiérrez is a Manager of Corporate Enhancements at Capital One, where he has led HR systems & post-merger integration initiatives with the Discover & Capital One merger. His background centers on M&A integration, with prior experience as a Manager in PwC's Consulting practice, advising clients across 15+ countries on separations, integrations, divestitures, and carve-outs throughout Latin America. Fluent in English, Spanish, and Portuguese, Zeke brings expertise to complex multinational transactions. He holds a B.S. in Foreign Service from Georgetown University and is pursuing his Executive MBA at Darden (Class of 2027).

     

    DEF Madison StrategyAndres Martinez, Portfolio Manager – Madison Strategy
    Full Time Role: Staff Accountant, The Carlyle Group 

    Andres Martinez is a Fund Controller at The Carlyle Group, supporting the firm's Asia Buyout and Asia Growth private equity platforms. In his role, Andres works closely with the Fund Management, Valuations, and Investor Relations teams to manage capital calls and distributions, NAV and performance reporting, and fund liquidity analysis across a multi-billion dollar portfolio. Before Carlyle, Andres founded and managed a value-add residential real estate fund, overseeing the full investment lifecycle from acquisition through disposition. Andres is REFM-certified in institutional real estate modeling.

     

    DEF DEBennett Moehring, Portfolio Manager – Madison Strategy
    Full Time Role: Operations, White House Military Office

    Bennett Moehring is a United States Naval Officer currently serving in an operations role with the White House Military Office. A 2019 graduate of the United States Naval Academy, he earned a Bachelor of Science in Quantitative Economics and was a four-year member of the Navy football team, where he became the program's all-time leading scorer among kickers. Commissioned as a Naval Aviator, Bennett flew the MH-53E Sea Dragon with Helicopter Mine Countermeasures Squadron 15 (HM-15), accumulating more than 675 flight hours and qualifying as a Helicopter Aircraft Commander. Over his fleet tour he led operations across the U.S., Middle East, and Indo-Pacific, including detachment assignments in Bahrain and South Korea where he directed multinational exercises and coordinated diplomatic clearances alongside allied forces. He has held a range of leadership roles spanning operations, training and standardization, and legal, and was promoted to Lieutenant twice within four years. Bennett is concurrently pursuing an Executive MBA at the University of Virginia's Darden School of Business. He lives in Annapolis, Maryland.

     

    DEF Madison StrategyHui Qi, Portfolio Manager – Madison Strategy
    Full Time Role: Analytics, Freddie Mac

    Hui is a quantitative analytics professional at Freddie Mac specializing in mortgage portfolio analytics, capital management, and risk modeling. She leverages quantitative analysis to evaluate portfolio performance, capital efficiency, and return on equity (ROE), supporting data-driven business decisions.

     

     

    DEF Madison StrategyChris Rapp, Portfolio Manager – Madison Strategy
    Full Time Role: Senior Manager, T. Rowe Price 

    Chris Rapp is a Senior Manager in Strategic Finance at T. Rowe Price where he partners with senior leadership on long-term strategy, capital allocation, competitive intelligence, value creation, and executive decision-making.

     

     

    DEF Madison StrategyWilliam Talbot, Portfolio Manager – Madison Strategy
    Full Time Role: Data Analytics Manager, AARP

    Will Talbot is a Data Analytics Manager at AARP, where he partners with cross-functional leaders to improve operational strategy, capital planning, and business performance. His work focuses on translating complex data into insights that drive strategic, financial, and operational decision-making. He earned a B.S. in Applied Mathematics and Psychology from the University of Maryland and is pursuing an MBA at the University of Virginia Darden School of Business (Class of 2027).

     

    DEF Madison StrategyVictoria Wallgren, Portfolio Manager – Madison Strategy
    Full Time Role: Controller, Auto Care Association

    Victoria Wallgren is a finance and accounting leader with over a decade of experience in nonprofit and data organizations. She currently serves as Controller at the Auto Care Association, overseeing multi-entity accounting operations, financial reporting, budgeting, forecasting, and compliance. Her prior roles include Associate Controller at the National Academy of Sciences and Accounting Manager at the National Student Clearinghouse. Victoria holds an MS in Accounting from George Mason University and is a Certified Public Accountant licensed through the Virginia Board of Accountancy.

  • The Monroe Strategy

    The Monroe Strategy

    Strategy Overview

    The Monroe Strategy is grounded in strength, resilience, and the foundational elements of economic growth. Focused on sectors that underpin the physical infrastructure of society - energy, materials, industrials, and utilities - this strategy reflects the pragmatic legacy of President James Monroe, whose leadership was marked by nation-building, expansion, and stability. Just as Monroe’s doctrine protected national interests and projected strength, the strategy’s strategy emphasizes durable business models, capital-intensive industries, and macro-driven investments. The Monroe Strategy brings an execution-first mindset, navigating cyclical industries with a long-term lens and a disciplined approach to operational and structural risk.

    Sectors: Energy, Materials, Industrials, Utilities

     

    DEF Monroe StrategyJorge Guerra Su, Vice President – Monroe Strategy


    Jorge Guerra is an MBA candidate at the Darden School of Business (Class of 2027). He most recently served as Operations Manager at Highland Verus Asset Management, a family office, where he managed the operating side of a portfolio spanning public equities and 15-plus residential and commercial properties across U.S. and Latin American markets, working directly with the principal and wealth managers on liquidity planning and capital deployment. Previously, he led quality and performance management across 100-plus client accounts at a digital marketing firm, and founded and ran a consumer food business in Managua. He began his career in industrial operations, rising to warehouse and logistics manager for a meat processor moving 60 million pounds annually. Fluent in Spanish and English, Jorge holds a Master in Entrepreneurship & Business Venturing from Universidad Carlos III de Madrid and a B.S. in Industrial Engineering from Universidad Centroamericana.

     

    DEF Monroe StrategySusanne Bell, Portfolio Manager – Monroe Strategy
    Full Time Role: President, Virginia Early Childhood Foundation

    Susanne Bell is the President of the Virginia Early Childhood Foundation where she builds a strategic and sustained focus on the healthy development and school readiness of the Commonwealth’s youngest learners. Previously she advised and cultivated education and workforce investments at the Danville Regional Foundation in southern Virginia. Her career spans Capitol Hill, higher education and education policy consulting. Susanne is a Darden MBA candidate (Class of 2027) and holds a master’s in public policy from Johns Hopkins University.

     

    DEF Monroe StrategyXiying Lin, Portfolio Manager – Monroe Strategy
    Full Time Role: Sr Business Analyst, Exelon 

    Xiying Lin is an investment strategy professional at Exelon, where she supports capital portfolio planning and helps drive regulatory, financial, and operational outcomes across a multibillion-dollar utility investment portfolio spanning multiple jurisdictions. Her work focuses on developing long-range capital plans, enhancing portfolio performance, and providing executive stakeholders with data-driven insights to inform strategic decision-making. Prior to transitioning into the utility industry, she served as General Manager of a boutique auction house. She is pursuing her MBA at the University of Virginia Darden School of Business (Class of 2027).

     

    DEF CEOCharlie Lizza, Chief Executive Officer
    Full Time Role: Manager, Top Corner Consulting

    Charlie Lizza is a Manager at Top Corner Consulting, where he leads operational and communications strategy for national security clients across investment planning, acquisition support, and enterprise decision-making. His work has included developing communications strategies in response to Presidential requests and briefing oversight officials up to the Undersecretary of War. He also advises Hala Systems, an AI-enabled geospatial analytics startup, on go-to-market strategy and commercialization. He holds a B.A. in Psychology from Tufts University, an M.A. in Intelligence and International Security from King's College London, and is pursuing his MBA at Darden (Class of 2027).

     

    DEF Monroe StrategyJustin McIntosh, Portfolio Manager – Monroe Strategy
    Full Time Role: Director of Operations, Technology Advancement Group 

    Justin McIntosh is a defense technology professional, military veteran, and strategist with nearly two decades of experience in U.S. Army Special Operations. He currently serves as Director of Operations at Technology Advancement Group. Prior to entering the defense technology sector, Justin served in U.S. Army Special Forces soldier, with experience across the Middle East and Indo-Pacific. His career included operational leadership, partner-force training, interagency coordination, and deployments to Iraq, Syria, Jordan, Lebanon, Thailand, Taiwan, and other strategic regions. Justin holds a Master of Arts in History from the University of Nebraska at Kearney. He is a host on the WarTalk podcast and author of Mind of Things, where he writes analytical commentary on military doctrine, foreign policy, defense technology, and the changing character of war.

     

    DEF Monroe StrategyVeronica Nunn, Portfolio Manager – Monroe Strategy
    Full Time Role: Partner, Pillsbury Winthrop Shaw Pittman LLP 

    Veronica Nunn is a Partner at Pillsbury Winthrop Shaw Pittman LLP, a full-service law firm, where she specializes in advising public and private companies and private equity sponsors in M&A and financing transactions.

     

     

    DEF Monroe StrategyKatrina Strother, Portfolio Manager – Monroe Strategy
     

    Katrina Strother is a strategic leader with expertise in enterprise strategy, complex decision-making, organizational transformation, and defense technologies. She applies structured analysis, systems thinking, and disciplined judgment to navigate complexity, manage risk, and drive strategic decision-making across high-accountability environments. Katrina is skilled at translating ambiguity into clear direction, aligning stakeholders, and delivering outcomes in dynamic, mission-critical settings. She previously served as a U.S. Air Force Senior Enlisted Leader and is currently pursuing her Executive MBA at the University of Virginia Darden School of Business.

     

    DEF Monroe StrategyTeddy Worms, Portfolio Manager – Monroe Strategy