Spitfire is a value-oriented investor in publicly-traded, smaller capitalization companies. We invest in market share leading businesses which generate excess cash, possess substantial financial flexibility and demonstrate increasing intrinsic value. Our investments offer the potential for significant upside over a one to three year holding period while benefitting from a substantial margin of safety.
The Supermarine Spitfire was a single seat fighter aircraft which first entered service in Britain's Royal Air Force in August 1938, before the start of the Second World War. The Spitfire was designed by R.J. Mitchell. The Mark 1, with a 1,030hp Merlin engine, had a top speed of 330 knots and carried eight Browning machine guns. With a higher rate of turn and better visibility than the Luftwaffe's Messerschmitt Bf-109, the Spitfire was very successful in dog fights.
In the late summer of 1940, the Spitfire became the symbol of the Battle of Britain, of refusal to give up, and of victory against overwhelming odds.