The Towle Way is a data-driven approach that aims to identify mispriced companies where incremental improvements can have a multiplier effect on investment returns. Core differentiators:
The Fund follows a disciplined, value-driven investment process rooted in the belief that investor biases create persistent market inefficiencies. By systematically acting on these inefficiencies, the Fund seeks to unlock opportunities for long-term capital appreciation. A core tenet of the Fund’s strategy is Towle’s independent, contrarian mindset, which actively challenges market consensus. Towle focuses on investments that are out-of-favor due to adverse business developments, industry-specific downturns, short-term earnings misses, unfavorable market sentiment, or other temporary factors. The strategy emphasizes identifying opportunities ahead of anticipated catalysts where even modest improvements in profitability can drive significant earnings expansion and stock price appreciation.
The Fund’s investment universe starts with publicly traded equity securities listed on a U.S. exchange. Next, Towle applies proprietary quantitative screens to assess liquidity, short interest, historical earnings, performance, and other factors. Companies primarily engaged in tobacco, liquor, or gaming are then excluded. Following this, additional screening criteria are used to evaluate the attractiveness of potential investments as described above. The Fund generally holds between 30 and 100 positions. The investment process tends to favor smaller companies – typically those with market capitalizations under $15 billion – operating in cyclical industries such as manufacturing, distribution, consumer products, transportation, materials, and energy, but may invest in companies of any capitalization in any industry.
1 | Ticker | TCV |
---|---|---|
1 | Ticker | TCV |
2 | Fund Type | Active |
3 | CUSIP | 02072Q432 |
4 | Exchange | NYSE Arca |
5 | Inception | 2025-07-16 |
7 | Expense Ratio | 0.8500 |
8 | 30-Day Bid/Ask Spread* | 0.16% |
8 | AUM ($mm) | $83.3 |
9 | As of Date | 2025-07-21 |
Field | Last | 1-Day Change ($) | 1-Day Change (%) |
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NAV | $24.79 | 0.00 | -0.68% |
Market Price | $24.81 | 0.00 | -0.71% |
Premium / Discount | 0.08% |
Fund_Ticker | Type | YTD | 1 Month | 3 Month | 6 Month | 1 Year | 3 Year | 5 Year | 10 Year | Since Inception | As of Date |
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Fund_Ticker | Type | YTD | 1 Month | 3 Month | 6 Month | 1 Year | 3 Year | 5 Year | 10 Year | Since Inception | As of Date |
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The performance data quoted represents past performance and is no guarantee of future results. Investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted.
Market price returns are based upon the closing composite market price and do not represent the returns you would receive if you traded shares at other times. Returns are average annualized total returns, except those for periods of less than one year, which are cumulative. YTD is year-to-date and ITD is inception-to-date.
Year | Quarter | Days Traded at Premium | Days Traded at Discount |
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0 | 0 | 0 | 0 |
Days Traded at Premium | Days traded at Discount |
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Ex_Date | Record_Date | Payable_Date | Income | Short_Term_Capital_Gain | Long_Term_Capital_Gain | Total_Capital_Gain | Total_Distribution |
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Ticker | Name | CUSIP | Shares | Price | Market Value ($mm) | % of Net Assets | EFFECTIVE_DATE |
---|---|---|---|---|---|---|---|
AAP | Advance Auto Parts Inc | 00751Y106 | 30,797 | 61.13 | 1.88 | 2.23 | 21/07/2025 |
ALK | Alaska Air Group Inc | 011659109 | 34,287 | 53.15 | 1.82 | 2.16 | 21/07/2025 |
ACI | Albertsons Cos Inc | 013091103 | 60,349 | 20.47 | 1.24 | 1.47 | 21/07/2025 |
ASTL | Algoma Steel Group Inc | 015658107 | 271,220 | 7.02 | 1.90 | 2.26 | 21/07/2025 |
ALLY | Ally Financial Inc | 02005N100 | 49,836 | 39.88 | 1.99 | 2.36 | 21/07/2025 |
AMR | Alpha Metallurgical Resources Inc | 020764106 | 14,420 | 124.27 | 1.79 | 2.13 | 21/07/2025 |
AEO | American Eagle Outfitters Inc | 02553E106 | 10,302 | 9.94 | 0.10 | 0.12 | 21/07/2025 |
ARCB | ArcBest Corp | 03937C105 | 30,272 | 78.54 | 2.38 | 2.82 | 21/07/2025 |
ARW | Arrow Electronics Inc | 042735100 | 17,522 | 130.47 | 2.29 | 2.71 | 21/07/2025 |
ABG | Asbury Automotive Group Inc | 043436104 | 7,843 | 229.96 | 1.80 | 2.14 | 21/07/2025 |
AN | AutoNation Inc | 05329W102 | 11,460 | 196.76 | 2.25 | 2.68 | 21/07/2025 |
AVT | Avnet Inc | 053807103 | 32,980 | 55.00 | 1.81 | 2.15 | 21/07/2025 |
BLMN | Bloomin' Brands Inc | 094235108 | 203,371 | 9.39 | 1.91 | 2.27 | 21/07/2025 |
BXC | BlueLinx Holdings Inc | 09624H208 | 14,338 | 74.01 | 1.06 | 1.26 | 21/07/2025 |
BCC | Boise Cascade Co | 09739D100 | 1,939 | 83.89 | 0.16 | 0.19 | 21/07/2025 |
BWA | BorgWarner Inc | 099724106 | 13,986 | 34.98 | 0.49 | 0.58 | 21/07/2025 |
CLW | Clearwater Paper Corp | 18538R103 | 60,428 | 28.01 | 1.69 | 2.01 | 21/07/2025 |
CBRL | Cracker Barrel Old Country Store Inc | 22410J106 | 36,482 | 65.64 | 2.39 | 2.84 | 21/07/2025 |
DXC | DXC Technology Co | 23355L106 | 95,924 | 14.39 | 1.38 | 1.64 | 21/07/2025 |
DK | Delek US Holdings Inc | 24665A103 | 122,585 | 24.63 | 3.02 | 3.58 | 21/07/2025 |
FL | Foot Locker Inc | 344849104 | 87,667 | 25.17 | 2.21 | 2.62 | 21/07/2025 |
GT | Goodyear Tire & Rubber Co/The | 382550101 | 187,683 | 10.67 | 2.00 | 2.38 | 21/07/2025 |
DINO | HF Sinclair Corp | 403949100 | 59,971 | 43.95 | 2.64 | 3.13 | 21/07/2025 |
HOV | Hovnanian Enterprises Inc | 442487401 | 12,168 | 107.14 | 1.30 | 1.55 | 21/07/2025 |
JELD | JELD-WEN Holding Inc | 47580P103 | 23,841 | 4.20 | 0.10 | 0.12 | 21/07/2025 |
KD | Kyndryl Holdings Inc | 50155Q100 | 6,552 | 39.47 | 0.26 | 0.31 | 21/07/2025 |
LEA | Lear Corp | 521865204 | 20,783 | 104.00 | 2.16 | 2.56 | 21/07/2025 |
LBRT | Liberty Energy Inc | 53115L104 | 110,225 | 11.35 | 1.25 | 1.48 | 21/07/2025 |
MGA | Magna International Inc | 559222401 | 40,618 | 41.40 | 1.68 | 1.99 | 21/07/2025 |
MEI | Methode Electronics Inc | 591520200 | 176,666 | 6.55 | 1.16 | 1.37 | 21/07/2025 |
MOH | Molina Healthcare Inc | 60855R100 | 625 | 182.98 | 0.11 | 0.14 | 21/07/2025 |
OMI | Owens & Minor Inc | 690732102 | 165,753 | 7.75 | 1.28 | 1.52 | 21/07/2025 |
PBF | PBF Energy Inc | 69318G106 | 63,034 | 24.37 | 1.54 | 1.82 | 21/07/2025 |
PARR | Par Pacific Holdings Inc | 69888T207 | 125,701 | 31.92 | 4.01 | 4.76 | 21/07/2025 |
WOOF | Petco Health & Wellness Co Inc | 71601V105 | 602,515 | 3.30 | 1.99 | 2.36 | 21/07/2025 |
PUMP | ProPetro Holding Corp | 74347M108 | 212,923 | 5.67 | 1.21 | 1.43 | 21/07/2025 |
RYI | Ryerson Holding Corp | 783754104 | 84,991 | 22.77 | 1.94 | 2.3 | 21/07/2025 |
SNBR | Sleep Number Corp | 83125X103 | 179,933 | 6.86 | 1.23 | 1.46 | 21/07/2025 |
SAH | Sonic Automotive Inc | 83545G102 | 33,364 | 76.94 | 2.57 | 3.05 | 21/07/2025 |
LUV | Southwest Airlines Co | 844741108 | 74,822 | 36.51 | 2.73 | 3.24 | 21/07/2025 |
MTUS | Metallus Inc | 887399103 | 118,205 | 16.20 | 1.91 | 2.27 | 21/07/2025 |
TWI | Titan International Inc | 88830M102 | 226,340 | 9.04 | 2.05 | 2.43 | 21/07/2025 |
TSN | Tyson Foods Inc | 902494103 | 44,093 | 53.41 | 2.36 | 2.79 | 21/07/2025 |
UAA | Under Armour Inc | 904311107 | 329,644 | 6.86 | 2.26 | 2.68 | 21/07/2025 |
VLO | Valero Energy Corp | 91913Y100 | 1,806 | 146.15 | 0.26 | 0.31 | 21/07/2025 |
WNC | Wabash National Corp | 929566107 | 176,359 | 9.69 | 1.71 | 2.03 | 21/07/2025 |
WKC | World Kinect Corp | 981475106 | 59,304 | 28.09 | 1.67 | 1.98 | 21/07/2025 |
ZUMZ | Zumiez Inc | 989817101 | 52,326 | 13.46 | 0.70 | 0.84 | 21/07/2025 |
Cash&Other | Cash & Other | 16,310 | 1.00 | 0.02 | 0.02 | 21/07/2025 | |
ADNT | Adient PLC | G0084W101 | 66,791 | 21.75 | 1.45 | 1.72 | 21/07/2025 |
CWK | Cushman & Wakefield PLC | G2717B108 | 150,381 | 11.18 | 1.68 | 1.99 | 21/07/2025 |
BG | Bunge Global SA | H11356104 | 19,881 | 74.42 | 1.48 | 1.76 | 21/07/2025 |