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Critical Facts You Need to Know About Preferred Stocks
Have you ever wished for the safety of bonds, but the return potential...
Name
As of 12/24/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
YTD Return
-8.8%
1 yr return
-8.9%
3 Yr Avg Return
2.4%
5 Yr Avg Return
7.2%
Net Assets
$88.8 M
Holdings in Top 10
36.5%
Expense Ratio 1.12%
Front Load N/A
Deferred Load N/A
Turnover 50.00%
Redemption Fee 2.00%
Standard (Taxable)
$5,000
IRA
$2,500
Fund Type
Open End Mutual Fund
Name
As of 12/24/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
The Fund seeks to achieve its investment objective by purchasing equity securities of companies that Towle & Co., the Fund’s investment advisor (the “Advisor” or “Towle”), believes are deeply discounted relative to the companies’ earnings potential. The Advisor’s security selection process emphasizes companies trading at low multiples to sales where small improvements in profitability can result in significant earnings expansion and stock price appreciation.
The Advisor believes its independent, contrarian viewpoint is essential to the Fund’s strategy. This contrarian approach challenges consensus by actively seeking investment opportunities that are undervalued due to adverse business developments, unfavorable market sentiment, or other factors. The Advisor does not attempt to manage the Fund’s portfolio against the composition of a benchmark. Under normal conditions, the Fund generally expects to hold a relatively concentrated portfolio of between 25 and 50 positions.
The Fund invests primarily in equity securities of U.S. issuers and maintains the flexibility to invest in common stocks of companies across different market capitalization levels, although the Advisor's investment process generally gravitates towards smaller companies. Furthermore, the Advisor has the discretion to allocate up to 25% of the Fund’s total net assets to foreign securities, either directly or indirectly through the use of American Depositary Receipts (“ADRs”), which represent interests in foreign securities held in custody by U.S. banks.
The Fund does not invest in tobacco, liquor, or gaming companies.
The Fund is a “non-diversified” fund, which means that the securities laws do not limit the percentage of assets that it may invest in any one company (subject to certain limitations under the Internal Revenue Code of 1986, as amended (the “Code”)). From time to time, the Fund may focus its investments in particular sectors. For example, as of September 30, 2023, 38.5% of the Fund’s net assets were invested in the consumer, cyclical sector, and 27.1% of the Fund’s net assets were invested in the energy sector.
Period | TDVFX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | -8.8% | -13.9% | 26.2% | 97.61% |
1 Yr | -8.9% | -14.1% | 25.5% | 97.61% |
3 Yr | 2.4%* | -7.2% | 72.4% | 87.25% |
5 Yr | 7.2%* | -4.0% | 50.6% | 79.59% |
10 Yr | 5.9%* | -2.0% | 27.3% | 82.51% |
* Annualized
Period | TDVFX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 16.3% | -6.0% | 33.6% | 19.90% |
2022 | -9.1% | -33.6% | 212.9% | 12.50% |
2021 | 26.2% | -62.0% | 147.6% | 33.42% |
2020 | 5.5% | -24.8% | 31.3% | 24.55% |
2019 | 21.4% | -21.7% | 34.0% | 32.52% |
Period | TDVFX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | -8.8% | -13.9% | 26.2% | 97.61% |
1 Yr | -8.9% | -14.1% | 25.5% | 97.61% |
3 Yr | 2.4%* | -7.2% | 72.4% | 87.25% |
5 Yr | 7.2%* | -4.0% | 50.6% | 79.59% |
10 Yr | 5.9%* | -2.0% | 27.3% | 82.51% |
* Annualized
Period | TDVFX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 19.0% | 1.8% | 35.4% | 24.46% |
2022 | -2.2% | -25.2% | 250.0% | 9.56% |
2021 | 26.2% | -3.0% | 157.9% | 79.75% |
2020 | 5.6% | -13.5% | 33.4% | 33.33% |
2019 | 22.6% | -1.5% | 34.3% | 44.17% |
TDVFX | Category Low | Category High | TDVFX % Rank | |
---|---|---|---|---|
Net Assets | 88.8 M | 3.29 M | 63 B | 82.06% |
Number of Holdings | 41 | 10 | 1568 | 94.02% |
Net Assets in Top 10 | 37.6 M | 279 K | 3.62 B | 68.42% |
Weighting of Top 10 | 36.50% | 5.2% | 92.1% | 16.07% |
Weighting | Return Low | Return High | TDVFX % Rank | |
---|---|---|---|---|
Stocks | 90.77% | 6.25% | 105.02% | 95.93% |
Cash | 7.08% | 0.00% | 37.64% | 14.11% |
Preferred Stocks | 0.00% | 0.00% | 1.05% | 37.32% |
Other | 0.00% | -1.07% | 38.91% | 53.35% |
Convertible Bonds | 0.00% | 0.00% | 2.63% | 34.71% |
Bonds | 0.00% | 0.00% | 90.12% | 36.36% |
Weighting | Return Low | Return High | TDVFX % Rank | |
---|---|---|---|---|
Consumer Cyclical | 46.01% | 0.35% | 51.62% | 0.49% |
Energy | 23.92% | 0.00% | 29.42% | 0.49% |
Industrials | 14.80% | 0.65% | 48.61% | 70.83% |
Technology | 7.91% | 0.00% | 27.23% | 60.78% |
Consumer Defense | 3.77% | 0.00% | 13.22% | 52.21% |
Financial Services | 3.59% | 0.00% | 35.71% | 98.53% |
Utilities | 0.00% | 0.00% | 13.86% | 86.27% |
Real Estate | 0.00% | 0.00% | 44.41% | 95.10% |
Healthcare | 0.00% | 0.00% | 25.76% | 99.02% |
Communication Services | 0.00% | 0.00% | 17.58% | 92.65% |
Basic Materials | 0.00% | 0.00% | 67.30% | 98.77% |
Weighting | Return Low | Return High | TDVFX % Rank | |
---|---|---|---|---|
US | 90.77% | 6.25% | 105.02% | 92.58% |
Non US | 0.00% | 0.00% | 77.52% | 52.39% |
TDVFX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 1.12% | 0.05% | 37.04% | 55.98% |
Management Fee | 0.79% | 0.00% | 1.50% | 51.08% |
12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
Administrative Fee | N/A | 0.01% | 0.35% | 52.17% |
TDVFX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | N/A | 3.50% | 5.75% | N/A |
Deferred Load | N/A | 1.00% | 4.00% | N/A |
TDVFX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | 2.00% | 0.50% | 2.00% | 22.22% |
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 | 50.00% | 7.00% | 252.00% | 45.75% |
TDVFX | Category Low | Category High | TDVFX % Rank | |
---|---|---|---|---|
Dividend Yield | 0.46% | 0.00% | 14.14% | 44.50% |
TDVFX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | None | Annual | Quarterly | Annual |
TDVFX | Category Low | Category High | TDVFX % Rank | |
---|---|---|---|---|
Net Income Ratio | -0.42% | -1.43% | 4.13% | 90.93% |
TDVFX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Date | Amount | Type |
---|---|---|
Dec 05, 2024 | $0.073 | OrdinaryDividend |
Dec 05, 2024 | $2.036 | CapitalGainLongTerm |
Dec 05, 2023 | $0.143 | OrdinaryDividend |
Dec 05, 2023 | $0.275 | CapitalGainLongTerm |
Dec 06, 2022 | $1.356 | CapitalGainLongTerm |
Dec 08, 2020 | $0.010 | OrdinaryDividend |
Dec 05, 2019 | $0.132 | OrdinaryDividend |
Dec 06, 2018 | $0.505 | CapitalGainShortTerm |
Dec 06, 2018 | $0.803 | CapitalGainLongTerm |
Dec 06, 2017 | $4.180 | CapitalGainLongTerm |
Dec 06, 2017 | $0.047 | OrdinaryDividend |
Dec 08, 2015 | $0.563 | CapitalGainLongTerm |
Dec 05, 2014 | $0.495 | CapitalGainLongTerm |
Dec 06, 2013 | $0.264 | CapitalGainShortTerm |
Dec 06, 2013 | $0.447 | CapitalGainLongTerm |
Dec 14, 2012 | $0.007 | OrdinaryDividend |
Dec 14, 2012 | $0.008 | CapitalGainShortTerm |
Start Date
Tenure
Tenure Rank
Oct 31, 2011
10.59
10.6%
Christopher D. Towle joined Towle & Co. and served as a member of the investment team since 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.
Start Date
Tenure
Tenure Rank
Oct 31, 2011
10.59
10.6%
Wesley R. Tibbetts, CFA, 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.
Start Date
Tenure
Tenure Rank
Oct 31, 2011
10.59
10.6%
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.
Start Date
Tenure
Tenure Rank
Dec 31, 2013
8.42
8.4%
James M. Shields, CFA, Portfolio Manager, 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.
Start Date
Tenure
Tenure Rank
Feb 01, 2021
1.33
1.3%
Luke joined Towle & Co. in June 2018 after serving the firm in a consulting role while completing his MBA. Prior to business school, Luke was an analyst at Kinderhook Partners, an employee-owned investment manager that invests globally in public and private companies. While at Kinderhook, he analyzed search funds, micro-cap and small-cap stocks, and leveraged control investments. Prior to joining Kinderhook, he played quarterback for the Stuttgart Scorpions in the German Football League. Luke graduated cum laude with BA degrees in mathematics & economics from Lawrence University and received an MBA from Columbia Business School.
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.08 | 37.45 | 8.23 | 3.58 |
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