Towle ETFs

Independent Thinking. Disciplined Investing. Since 1981.

We believe investor biases create market inefficiencies, and systematically acting on these inefficiencies unlocks opportunities for long-term appreciation.

WHY PURCHASE THE TOWLE VALUE ETF?

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:

Buy Demand

We buy revenue on the cheap, leveraging the power of incremental improvement.

Buy Before

As pre-catalyst investors, we take a data-driven approach to identify conditions ripe for unanticipated positive developments

Buy In

Outperformance requires thinking differently, embracing volatility, and fully committing to the process

METHODOLOGY

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 factorsCompanies 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.  

FUND DOCUMENTS

Fund details

CURRENT NAV** AND MARKET PRICE

MONTH-END PERFORMANCE

Fund_Ticker Type YTD 1 Month 3 Month 6 Month 1 Year 3 Year 5 Year 10 Year Since Inception As of Date

QUARTER-END PERFORMANCE

Fund_Ticker Type YTD 1 Month 3 Month 6 Month 1 Year 3 Year 5 Year 10 Year Since Inception As of Date

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.

Historical Premium/Discount

COMPLETED CALENDAR QUARTERS OF CURRENT YEAR

Year Quarter Days Traded at Premium Days Traded at Discount
0 0 0 0

MOST RECENT COMPLETED CALENDAR YEAR

Days Traded at Premium Days traded at Discount

FUND DISTRIBUTIONS

Ex_Date Record_Date Payable_Date Income Short_Term_Capital_Gain Long_Term_Capital_Gain Total_Capital_Gain Total_Distribution

FUND HOLDINGS ****

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
****Holdings are subject to change