Multi-Cap Equity Fund Portfolio Management

Fund Managers

The Advisor's firm uses a team approach to investments. Of the twelve investment team members, Brian Clancy and Paul Condrat are principally responsible for the management of the Fund's portfolio and serve as co-portfolio managers of the Fund.

Brian P. Clancy, CFA

Portfolio Manager

Brian is co-portfolio manager of the Davidson Multi-Cap Equity strategy. Brian joined the investment industry in 1996; prior to joining Davidson Investment Advisors, Brian served as co-portfolio manager of SAFECO Asset Management's Multi-Cap Core fund. Additionally, Brian served as a portfolio manager for the SAFECO Trust Company in Seattle. Beyond portfolio management duties, Brian operated as an equity analyst covering the semiconductor, semiconductor capital equipment, communications technology, office equipment, beverage, and waste management industries. Brian is a member of the CFA Society of Seattle. Brian earned a BS in mathematics from the United States Naval Academy and earned an MBA from the University of Washington.

Paul G. Condrat, CFA

Portfolio Manager

Paul Condrat has been Co-Portfolio Manager of the Davidson Multi-Cap Equity strategy since 2011. He joined D.A. Davidson in 2004. Paul previously served as a Senior Research Analyst supporting Davidson's equity and fixed income strategies. Prior to joining Davidson, he worked as a Business Analyst with Bainbridge Capital, a San Diego based private equity firm. Additionally, Paul, previously served as an active board member at InvestED, a public non-profit supporting secondary school students throughout Washington State, also serving as Board President from 2015-2017. Paul Holds a BBA in finance and marketing from Gonzaga University and is a member of the CFA Institute.

Andrew I. Davidson


Andrew Davidson is President of Davidson Investment Advisors and has served in that role since 2004. He joined the investment industry in 1990, and is Vice Chairman of the Board of Directors for D.A. Davidson Companies, is on the Board for Davidson Investment Advisors, and is a member of the D.A. Davidson Companies Executive Committee.Throughout his career, Andrew has served on a variety of local community, publicly traded company and corporate boards. He currently serves on the boards of the University of Montana Foundation, the Davidson Honors College Advisory Counsel, and is the past Chairman and board member for Great Falls Public Schools Foundation. Andrew holds a bachelor's degree in business administration - finance from the University of Montana.

Edward P. Crotty, CFA

Chief Investment Officer, Portfolio Manager

Ed is Chief Investment Officer and a member of the executive team overseeing the firm's overall investment process. Ed began his career in the investment industry in 1998, and currently serves as co-portfolio manager for the Davidson Equity Income and Taxable Fixed Income strategies. Prior to joining Davidson Investment Advisors in 2007, Ed worked at Goldman Sachs as a research analyst and portfolio manager. Ed is a member of the New York Society of Security Analysts and CFA Society of Seattle, and serves on the Board for Davidson Investment Advisors. Ed earned BS and MS degrees in engineering with honors from the University of Illinois - Urbana/Champaign and an MBA in finance with honors from Columbia University in New York City.