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TDVFX Towle Deep Value

  • Fund
  • TDVFX
  • Price as of: Sep 19, 2019
  • $12.82 - $0.14 - 1.08%

TDVFX - Profile

Vitals

  • YTD Return 10.1%
  • 3 Yr Annualized Return -6.9%
  • 5 Yr Annualized Return -4.3%
  • Net Assets $84.8 M
  • Holdings in Top 10 46.5%

52 WEEK LOW AND HIGH

$12.82
$11.09
$18.73

Expenses

OPERATING RELATED FEES

  • Expense Ratio 1.20%

SALES FEES

  • Front Load N/A
  • Deferred Load N/A

BROKERAGE FEES

  • Turnover 41.00%

TRADING FEES

  • Max Redemption Fee 2.00%

Min Investment

Closed to new investors as of Jan 29, 2018

STANDARD (TAXABLE)

$5,000

IRA

$2,500

Fund Classification

PRIMARY CATEGORY

  • Fund Type Open End Mutual Fund
  • Investment Style Small Value

Distributions

  • YTD Total Return 10.1%
  • 3 Yr Annualized Total Return -6.9%
  • 5 Yr Annualized Total Return -4.3%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 0.17%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Annually

Fund Details

  • Legal Name Towle Deep Value Fund
  • Fund Family Name Towle
  • Inception Date Oct 31, 2011
  • Shares Outstanding N/A
  • Share Class Other
  • Currency USD
  • Domiciled Country United States
  • Manager J. Ellwood Towle

Fund Description

Under normal circumstances, the fund invests primarily in equity securities of U.S. issuers. It may invest in common stocks of any capitalization, although it primarily focuses on smaller companies that the fund's advisor views to be out-of-favor, under-appreciated, and under-valued. The fund's advisor considers smaller capitalization companies to be those with market capitalization of $5 billion or lower at the time of purchase. The fund may also invest up to 25% of its total net assets in foreign securities, either directly or through the use of ADRs. It is non-diversified.

TDVFX - Performance

Return Ranking - Trailing

Period TDVFX Return Category Return Low Category Return High Rank in Category (%)
YTD 10.1% -7.7% 24.3% 86.60%
1 Yr -32.7% -48.1% -1.0% 96.73%
3 Yr -6.9%* -15.6% 11.1% 90.48%
5 Yr -4.3%* -16.4% 6.8% 60.87%
10 Yr N/A* -6.9% 12.8% N/A

* Annualized


Return Ranking - Calendar

Period TDVFX Return Category Return Low Category Return High Rank in Category (%)
2018 -37.9% -48.1% 5.1% 95.54%
2017 -6.7% -28.5% 16.6% 88.50%
2016 54.4% 3.0% 58.5% 0.62%
2015 -19.9% -31.2% 2.5% 86.51%
2014 -0.1% -35.0% 301.5% 26.39%

Total Return Ranking - Trailing

Period TDVFX Return Category Return Low Category Return High Rank in Category (%)
YTD 10.1% -7.7% 24.3% 86.60%
1 Yr -32.7% -48.1% 5.0% 98.09%
3 Yr -6.9%* -15.6% 12.1% 93.15%
5 Yr -4.3%* -15.5% 10.0% 80.60%
10 Yr N/A* -6.9% 17.4% N/A

* Annualized


Total Return Ranking - Calendar

Period TDVFX Return Category Return Low Category Return High Rank in Category (%)
2018 -37.9% -48.1% 5.1% 96.94%
2017 -6.7% -28.5% 18.0% 94.99%
2016 54.4% 3.0% 58.5% 0.62%
2015 -19.9% -28.1% 3.0% 92.76%
2014 -0.1% -35.0% 344.6% 67.71%

NAV & Total Return History

TDVFX - Holdings

Concentration Analysis

TDVFX Category Low Category High TDVFX % Rank
Net Assets 84.8 M 1.3 M 29 B 75.73%
Number of Holdings 34 23 1621 98.93%
Net Assets in Top 10 45.6 M 50.4 K 1.64 B 49.60%
Weighting of Top 10 46.50% 3.8% 253.5% 2.93%

Top 10 Holdings

  1. Meritor Inc 6.02%

  2. Ally Financial Inc 5.27%

  3. Fiat Chrysler Automobiles NV 5.23%

  4. Group 1 Automotive Inc 5.16%

  5. Adient PLC 4.83%

  6. Trinseo SA 4.58%

  7. M/I Homes Inc 4.19%

  8. McDermott International Inc 3.89%

  9. PBF Energy Inc Class A 3.84%

  10. Atlas Air Worldwide Holdings Inc 3.50%


Asset Allocation

Weighting Return Low Return High TDVFX % Rank
Stocks
98.50% 83.85% 100.37% 34.40%
Cash
1.10% -3.69% 16.19% 72.27%
Other
0.40% -4.78% 8.66% 7.20%
Preferred Stocks
0.00% 0.00% 2.25% 18.40%
Convertible Bonds
0.00% 0.00% 2.98% 17.60%
Bonds
0.00% -7.90% 3.74% 20.53%

Stock Sector Breakdown

Weighting Return Low Return High TDVFX % Rank
Consumer Cyclical
58.13% 0.38% 58.13% 0.27%
Energy
11.70% 0.00% 18.56% 0.53%
Industrials
8.29% 0.44% 36.79% 98.67%
Technology
7.00% 0.00% 29.66% 88.27%
Basic Materials
6.20% 0.00% 27.50% 49.07%
Financial Services
5.27% 0.00% 38.63% 98.13%
Consumer Defense
1.90% 0.00% 11.58% 81.87%
Utilities
0.00% 0.00% 10.81% 84.53%
Real Estate
0.00% 0.00% 19.33% 95.47%
Healthcare
0.00% 0.00% 18.07% 98.13%
Communication Services
0.00% 0.00% 3.78% 70.67%

Stock Geographic Breakdown

Weighting Return Low Return High TDVFX % Rank
US
88.70% 82.96% 99.89% 90.40%
Non US
9.80% 0.00% 16.88% 5.87%

TDVFX - Expenses

Operational Fees

TDVFX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.20% 0.00% 11.37% 57.45%
Management Fee 0.79% 0.00% 1.49% 44.27%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee 0.10% 0.00% 0.50% 45.00%

Sales Fees

TDVFX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.00% 5.75% N/A
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

TDVFX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee 2.00% 0.50% 2.00% 8.96%

Turnover Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

TDVFX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 41.00% 4.08% 558.00% 33.15%

TDVFX - Distributions

Dividend Yield Analysis

TDVFX Category Low Category High TDVFX % Rank
Dividend Yield 0.00% 0.00% 4.48% 68.53%

Dividend Distribution Analysis

TDVFX Category Low Category High Category Mode
Dividend Distribution Frequency Annually Annually Quarterly Annually

Dividend Payout History


Net Income Ratio Analysis

TDVFX Category Low Category High TDVFX % Rank
Net Income Ratio 0.17% -1.64% 2.21% 71.00%

Capital Gain Distribution Analysis

TDVFX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Semi-Annually Annually

TDVFX - Managers

J. Ellwood Towle

Manager

Start Date

Tenure

Tenure Rank

Oct 31, 2011

7.84

7.8%

Woody has researched and invested in publicly traded companies for 30+ years. During his investment career, Towle & Co. has owned over 80 companies that have been acquired from the company's portfolio. His cumulative knowledge of and experience in the small-cap universe provides a foundation for Towle & Co.'s investment management process. Before starting Towle & Co. in 1981, Woody worked for nine years at Brown Group, Inc. lastly as Manager of Corporate Development. In this capacity, he was involved in the implementation of the firm's merger and acquisition strategy including the identification, due diligence and analysis of acquisition candidates. Woody received his B.A. in history and business administration from Principia College in Elsah, Illinois in 1965 and an MBA from the University of Missouri in 1967.


Christopher D. Towle

Manager

Start Date

Tenure

Tenure Rank

Oct 31, 2011

7.84

7.8%

Chris joined Towle & Co. in 1994 and has been instrumental in all aspects of the firm's growth and development. As in integral member of the investment team, he shares responsibility for the investment management process including portfolio management, trading, and research. Prior to 1994, he served as a General Manager of H. H. Brown Shoe Co., Inc., an operating subsidiary of Berkshire Hathaway, with full line responsibility for a division of the company. He started his professional career as a Senior Credit Analyst at Manufacturers Hanover Trust in New York City. Chris graduated from Williams College in Williamstown, MA with a B.A. in history in 1990 and received an MBA from Washington University in St. Louis in 1998.


Wesley R. Tibbetts

Manager

Start Date

Tenure

Tenure Rank

Oct 31, 2011

7.84

7.8%

Wes joined Towle & Co. in 2010 as a valued member of the investment team with broad duties across the portfolio management and research process. Previously, Wes was an analyst at Lehman Brothers under the Private Equity division and at Neuberger Berman within the NB Alternatives group. While at these organizations, he analyzed buyout, venture capital and distressed debt funds as a part of his group’s private equity fund of funds platform. In addition, Wes shared duties in the analysis, management and reporting of a listed private equity fund. Wes graduated summa cum laude with a BBA in Finance from the Cox School of Business at Southern Methodist University in 2008. He is a CFA charterholder.


Peter J. Lewis

Manager

Start Date

Tenure

Tenure Rank

Oct 31, 2011

7.84

7.8%

Mr. Peter J. Lewis, CFA, Director of Research, has been a member of the Towle team since 2001. Prior to Towle & Co, Mr. Lewis was President of Principle Research, Inc. From 1991 to 1998, Mr. Lewis was a Partner and department leader at Edward Jones & Co., where he developed a seven-person research team responsible for determining the suitability of all products sold by the company. Before 1991, Mr. Lewis worked as a Senior Credit Analyst for three years at the Bank of New York.


James M. Shields

Manager

Start Date

Tenure

Tenure Rank

Dec 31, 2013

5.67

5.7%

Mr. James M. Shields, Analyst, joined Towle in 2013. Previously, Mr. Shields was a Manager at Deloitte Financial Advisory Services and an Analyst at Marshall & Stevens in the Business and Intangible Asset Valuation groups. While at these organizations, Mr. Shields managed a team of analysts, valued privately held companies, and valued intangible assets for multinational transactions. Mr. Shields graduated from the University of Missouri with a BBA in finance & banking/real estate and received an MBA from the University of Chicago Booth School of Business. He holds the distinction of Chartered Financial Analyst.


Tenure Analysis

Category Low

0.03

Category High

34.7

Category Average

7.75

Category Mode

0.83