Spitfire is a value-oriented investor in publicly-traded, small and mid-cap companies.

Investment Approach

Spitfire is a value-oriented investor in publicly-traded, small and mid-cap 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 multi-year holding period while benefitting from a substantial margin of safety.

Most of our targets are underfollowed by sell side analysts and institutional
investors and are often attractive acquisition candidates. Since inception, twenty two companies, representing over 20% of our investments, have been acquired by strategic or financial buyers.

Performance Awards

Representative Investments

The Spitfire Aircraft

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.

Meet The Team

Julian Allen

Managing Member

Patrick Ryan

Chief Operating Officer

Ibrahim Ihsan

Research Analyst

The materials on this website do not constitute an offer to sell or a solicitation to purchase any securities or investment advisory services. Any such offer or solicitation shall be made only to “accredited investors” (as defined in Regulation D promulgated under the Securities Act of 1933), “qualified clients” (as defined in the Investment Advisors Act of 1940) and/or “qualified purchasers” (as defined in the Investment Company Act of 1940), pursuant to a private placement memorandum and related subscription materials. An investment in the strategy described herein involves a high degree of risk, including the possibility of loss of principal, and is illiquid due to restrictions on withdrawal. See the formal offering documents for full details regarding risks, minimum investments, fees and expenses. Past performance is no guarantee of future results. Any reference on this website to “margin of safety” does not imply that investments made by Spitfire are safe. “Margin of safety” is an investment term that refers to the difference between the intrinsic value of a security and its market price.

Representative Investments are a subset of the investments purchased by Spitfire. Spitfire neither makes any representation as to the profitability or otherwise of Spitfire’s investments in these companies nor that any future investments will be acquired by strategic or financial buyers.

Spitfire is a value-oriented investor in publicly-traded, small and mid-cap companies.

Spitfire is a value-oriented investor in publicly-traded, small and mid-cap companies.

Investment Approach

Most of our targets are underfollowed by sell side analysts and institutional
investors and are often attractive acquisition candidates. Since inception, twenty two companies, representing over 20% of our investments, have been acquired by strategic or financial buyers.

We are experienced long term investors

A private equity approach to public market investing

Alignment of interests

Performance Awards

Representative Investments

The Spitfire Aircraft

Meet The Team

Julian Allen

Patrick Ryan

Ibrahim Ihsan

Spitfire is a value-oriented investor in publicly-traded, small and mid-cap companies.

Spitfire is a value-oriented investor in publicly-traded, small and mid-cap companies.

Investment Approach

Most of our targets are underfollowed by sell side analysts and institutionalinvestors and are often attractive acquisition candidates. Since inception, twenty two companies, representing over 20% of our investments, have been acquired by strategic or financial buyers.

We are experienced long term investors

A private equity approach to public market investing

Alignment of interests

Performance Awards

Representative Investments

The Spitfire Aircraft

Meet The Team

Julian Allen

Patrick Ryan

Ibrahim Ihsan​

Most of our targets are underfollowed by sell side analysts and institutional
investors and are often attractive acquisition candidates. Since inception, twenty two companies, representing over 20% of our investments, have been acquired by strategic or financial buyers.

Ibrahim Ihsan