Towle & Co. is structured to serve investors who appreciate the following principles that govern our investment decisions and client service activities:

• Capital formation is essential to the development of free enterprise, business expansion, and economic growth.
• Common stock ownership represents financial participation in a variety of wealth- and job-creating activities.
• Capital preservation takes precedence over investment risk.
• A long-term investment outlook provides superior, after-tax results compared to short term performance expectations.
• Clients are best served when their managed portfolios possess the same securities as those owned by the firm’s principals.