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As of December 31, 2016

 

Annualized Deep Value Composite (DVC) Returns1

3-Mon2 1-Year 3-Year 5-Year 10-Year 20-Year 30-Year SI3
DVC Gross 20.8% 57.2% 11.5% 21.6% 9.9% 14.2% 14.4% 16.9%
DVC Net 20.6% 56.1% 10.8% 20.8% 9.1% 13.4% 13.5% 16.1%
R2K Value 14.1% 31.7% 8.3% 15.1% 6.3% 9.7% 11.0% 12.4%
S&P 500 3.8% 12.0% 8.9% 14.7% 7.0% 7.7% 10.2% 11.5%

 

Top Ten Holdings

Ticker Company Weighting
SKYW SkyWest Inc 6.64%
TSE Trinseo SA 5.64%
NAV Navistar Intl Corp 4.39%
MTOR Meritor Inc 4.20%
MDR McDermott International Inc 4.07%
AAWW Atlas Air Worldwide Holdings Inc 3.81%
TPC Tutor Perini Corporation 3.78%
SANM Sanmina Corporation 3.75%
UIS Unisys Corporation 3.73%
HUN Huntsman Corp 3.64%
Total 43.65%

 

Characteristics

Weighted Average Capitalization ($Mil) 2,956.57
Median Market Capitalization ($Mil) 1,377.66
Median Price / Earnings (ttm)6 18.79
Median Price / Book Value 1.16
Median Price / Sales (ttm) 0.28
Median Debt / Equity 1.09
Median EV / EBITDA (ttm)6 7.47
Weighted Average Dividend Yield 0.96
Active Share (%)7 98
Percent Turnover (ttm)8 40
Number of Holdings 33

 

 

 

  1. Past performance is no guarantee of future outcome. Results reported reflect the deduction of trading expenses and in some cases custodial fees and other expenses. Results are calculated using a time-weighted total-rate-of-return method and are expressed in U.S. dollars. Results are presented gross and net of management fees and include the reinvestment of all income. Net of fee performance was calculated using actual management fees. Although Towle & Co. makes no attempt to manage against the composition of a specific benchmark, the Firm provides the Russell 2000 Value Index as a readily accessible indicator of comparative performance as well as the S&P 500 Index as a general indicator of the market at large. Investments made by Towle & Co. differ in comparison to the Russell 2000 Value Index in terms of security holdings and industry weightings. Towle & Co. invests in considerably fewer companies than the index with lower multiples to book value, sales, earnings, and cash flow, and as a result, the volatility and returns of the benchmark index may be materially differen from the individual performance attained by a Towle & Co. investor. Policies for valuing portfolios, calculating performance, and preparing compliant presentations are available upon request.

  2. Not annualized

  3. Inception = January 1, 1982

  4. Sector Weightings are based on the Bloomberg classification scheme.

  5. Micro Cap = Companies with a capitalization less than $400 Million
    Small Cap = Companies with a capitalization between $400 Million - $3 Billion
    Mid Cap = Companies with a capitalization between $3 Billion - $10 Billion
    Large Cap = Companies with a capitalization greater than $10 Billion

  6. Excludes negative earnings

  7. The percentage of portfolio holdings that differ from the Russell 2000 Value Index

  8. Representative account value