Each of the Equity Value Portfolio and The Equity Income Portfolio is made up of a portfolio rigorously researched and selected individual stocks.

Equity Investment Philosophy – Stolper Asset Management aims to identify and invest in undervalued stocks. Our strategy is founded on a highly disciplined approach based on long term investment results. We adhere to a philosophy advocated by Benjamin Graham, a value investor, and well known author on the subject. The firm invests using a “margin of safety” approach whereby our goal is to purchase stocks in companies that are trading at prices below their intrinsic value. The firm seeks to own equity in durable businesses with identifiable competitive advantages. Such companies often exhibit high returns on capital, solid balance sheets with judicious use of debt, and shareholder friendly management focused on generating excess cash. Stolper Asset Management is not concerned by being “out of step” with popular short-term trends and we do not follow investment fads.

Investment Decision Making Process – Stolper Asset Management only invests in those businesses we clearly understand and can evaluate with a reasonable degree of confidence. The firm does not define risk solely in terms of the conventional measure of stock or portfolio volatility; we characterize risk as overpaying or failing to understand a business. The firm prefers to own a diversified group of businesses, but will not initiate purchases solely for the sake of diversification. Stolper Asset Management typically selects large, publicly traded companies with long and successful histories, but may also consider smaller companies, or stocks in out of favor industries available at attractive price/value ratios (trading below intrinsic value). The firm strives to invest in businesses where a long-term investment horizon represents an advantage.

Portfolio Construction – If a company fits within the firm’s investment rationale and exhibits attractive valuation parameters it will be considered for inclusion in the appropriate portfolio. At any one time, each portfolio typically includes 25 – 30 stocks. While both the Equity Value Portfolio and the Equity Income Portfolio are constructed employing a value-based approach, the Equity Income Portfolio has an added income-producing dividend criteria.

Performance – Investment performance data for each portfolio, as well as performance relative to to appropriate benchmarks is available on request.