J. Dennis Delafield, CFA, Managing Director, is a Portfolio Manager at Tocqueville Asset Management L.P. Mr. Delafield joined Tocqueville in 2009 and manages discretionary and advisory portfolios for individual and institutional accounts. He is also a co-manager of The Delafield Fund and The Select Fund. Prior to joining Tocqueville, Mr. Delafield was a Managing Director of Reich & Tang Asset Management, LLC, which had joined with Mr. Delafield’s Delafield Asset Management, Inc., in 1991. Mr. Delafield founded Delafield Asset Management, Inc., in 1980, after leaving David J. Greene as a Managing Partner, where he was for ten years. Mr. Delafield joined Sterling, Grace & Co. in New York in 1959, where he became the Partner in charge of research in their investment advisory services area. He started his career in 1957 at Security Associates, Inc., in Winter Park, Florida. Mr. Delafield earned a B.A. from Princeton University.
Delafield Fund
Fund Objective
To achieve long-term capital preservation (sufficient growth to outpace inflation over an extended period of time) and growth of capital
Investment Strategy
- Invest primarily in the equity securities (i.e., common stocks, securities convertible into common stocks or rights or warrants to subscribe for or purchase common stocks) of domestic companies that appear undervalued
- Seek companies influenced by special situations, such as management changes, mergers and acquisitions, or hidden or under-appreciated assets
- Selectively invest in debt securities and preferred stocks that potentially offer significant opportunity for price appreciation
Vincent Sellecchia, CFA, Managing Director, is a Portfolio Manager at Tocqueville Asset Management L.P. Mr. Sellecchia, who has thirty-three years of investment experience, manages discretionary and advisory portfolios for individual and institutional accounts. He is also a co-manager of The Delafield Fund and The Select Fund. Mr. Sellecchia joined Tocqueville in 2009. Mr. Sellecchia started his investment career as an investment analyst at Irving Trust & Co. in 1976. He worked there for three years before joining the research team at Gabelli & Co. He joined Delafield Asset Management, Inc. in 1980, the year it was founded. In 1993, Delafield joined Reich & Tang Asset Management, LLC, where Mr. Sellecchia served as Managing Director until September 2009. Mr. Sellecchia received his B.A. from Boston College in 1974 and an M.B.A. from New York University in 1976.
Fund News
Insights
Top Ten Holdings
as of 12/31/2011 |
% of Total Assets |
|---|---|
| Dover Corporation | 2.98% |
| Celanese Corporation | 2.73% |
| Kennametal Inc. | 2.7% |
| Honeywell International Inc. | 2.68% |
| Tyco International Ltd. | 2.59% |
| Stanley Black & Decker Inc. | 2.59% |
| Ashland Inc. | 2.47% |
| Carlisle Companies Inc. | 2.37% |
| Collective Brands, Inc. | 2.28% |
| Eastman Chemical Company | 2.16% |
