Jupiter’s marketable securities activities are based upon a value-oriented, opportunistic approach in the pursuit of superior returns, both on an absolute and risk-adjusted basis. Our philosophy is based upon fundamental research and analysis, and our investments frequently involve out of favor industries and companies, and at times run counter to conventional wisdom. Our portfolio is typically concentrated in relatively few positions, and we invest primarily in securities of companies domiciled in the United States.
Our marketable securities investments typically fall into one of the following categories:
- Value Investments in securities that we believe are underpriced relative to their intrinsic or fundamental value. We utilize a private equity approach in evaluating such opportunities, and generally seek to achieve long term capital gains.
- Merger Arbitrage Investments in securities of companies involved in a merger or acquisition. We typically take a position in an announced takeover candidate, and frequently employ various hedging strategies.
- High Yield Debt Investments in non-investment grade debt securities that offer an attractive risk-return profile, with the prospect of generating returns either through current yield and/or appreciation.