Equal-WT
WhaleScore 2.0
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Towle & Company is based out of Denver. Towle & Company is a hedge fund with 82 clients and discretionary assets under management (AUM) of $879,341,384 (Form ADV from 2024-10-01). Their last reported 13F filing for Q4 2024 included $581,816,674 in managed 13F securities
and a top 10 holdings concentration of 36.52%. Towle & Company's largest holding is United Airlines Holdings Inc with shares held of 389,433. Whalewisdom has at least 85 13F filings, 28 13D filings, 61 13G filings, and 13 Form 4 filings
Business Description
Based on the provided documents, Item 4, Advisory Business, is located on page 4. The advisory business includes advice as to the value of securities; the advisability of investing in, purchasing or selling securities, and the availability of securities or purchasers or sellers of securities; furnishing analyses and reports concerning issuers, industries, securities, economic factors and trends, portfolio strategy and the performance of accounts; and effecting securities transactions and performing incidental functions such as clearance and settlement.
Item 4 has been updated to report Towle’s assets under management as well as its assets under advisement. The addition of assets under advisement reflects assets assigned to Towle in a model delivery program, as described in greater detail within this brochure.
Investment Strategy
Towle employs a Small Cap Value Strategy that aims for long-term capital appreciation by investing in undervalued equity securities. The strategy focuses on companies trading at low multiples to revenue, believing that even small improvements in profitability can lead to significant earnings expansion and stock price appreciation. Towle screens for U.S.-listed equity securities with sufficient trading liquidity and valuation criteria, followed by a fundamental review focused on earnings potential.
The investment process typically results in a portfolio of 30-100 positions, with flexibility to invest across different market capitalization levels and industries, though it often gravitates towards smaller companies in sectors like manufacturing, distribution, consumer products, transportation, materials, and energy. Towle's contrarian approach often leads to investments in out-of-favor sectors, which can result in greater volatility compared to market averages. The firm manages public equity portfolios for private and institutional investors on a fully discretionary basis, seeking to capitalize on market inefficiencies created by investor biases.
Owners
- WISHWOOD, LLC - OWNERSHIP ENTITY
- TOWLE, CHRISTOPHER, DALY - CHIEF EXECUTIVE OFFICER; DIRECTOR; TRUSTEE OF THE WOODY TRUST
- HOPFENSPERGER, CARI, ANN - CHIEF COMPLIANCE OFFICER
- SHIELDS, JAMES, MATTHEW - HEAD OF PRIVATE FUNDS; SECRETARY
- Barthelmess, Gabriel, Lukas - DIRECTOR
- MCMAHON, BROOKE, CONNORS - HEAD OF BUSINESS OPERATIONS; TREASURER Click on the Ownership/Private Fund Data tab for more details.
Known Email Addresses
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Other Contact Information
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2024-12-31
Top Buys (13F)
| Name | % Change |
|---|---|
| CBRL Cracker Barrel Old C | 2.33% |
| ULCC Frontier Group Holdi | 1.18% |
| AAP Advance Auto Parts, | 0.94% |
| PBF PBF Energy Inc | 0.68% |
| LEA Lear Corp | 0.58% |
2024-12-31
Top Sells (13F)
| Name | % Change |
|---|---|
| CVI CVR Energy Inc | 2.39% |
| ADNT Adient Plc | 1.29% |
| CLF Cleveland-Cliffs Inc | 1.06% |
| DAN Dana Inc | 0.86% |
| JELD JELD-WEN Holding Inc | 0.84% |
2024-12-31
13F Holdings Summary
| Name | $ Change |
|---|---|
| UAL United Airlines Hold | 6.5% |
| WOOF Petco Health and Wel | 3.78% |
| PUMP ProPetro Holding Cor | 3.68% |
| LUV Southwest Airlines C | 3.5% |
| SAH Sonic Automotive Inc | 3.41% |
2024-12-31
13F Activity
| Market Value | $0.58b, Prior: $0.70b |
| Inflows (Outflows) as % of Total MV | (-20.8583)% |
| New Purchases | 3 stocks |
| Added To | 7 stocks |
| Sold out of | 3 stocks |
| Reduced holdings in | 33 stocks |
| Top 10 Holdings % | 36.52% |
| Turnover %[1] | 10.91% |
| Turnover Alt %[2] | 4.92% |
| Time Held Top 20 | 2.35 quarters |
| Time Held Top 10 | 1.2 quarters |
| Time Held All | 7.54 quarters |
[1]: Turnover is calculated by taking the # of new holdings (initial purchases) + the # of positions sold out of (not just reduced) divided by the total # of holdings for the quarter.
[2]: Alt Turnover is calculated by taking either the total MV of new purchases or the MV of securities sold, whichever is less, divided by the total MV of the fund.
2024-12-31
13F Sector Allocation Over Time
limited to past 4 quarters. Subscribe to see all available data
2024-12-31
Analysis
Top 20 equal-weighted holdings. Performance numbers calculated through 2024-12-31