Towle & Co. manages equity portfolios for investors seeking capital appreciation in excess of stock market returns. Our deep-value, investment discipline strives to identify, invest in and capitalize on significant discrepancies between stock market prices and the intrinsic, underlying value of publicly traded companies. This search for absolute value typically leads us to smaller capitalization stocks, a market segment where many investment firms overlook thousands of well-seasoned, "main-street" companies. For most investors, our strategy appreciably diversifies their scope of investment and complements larger capitalization, equity portfolios. Formed in 1981, Towle & Co. is registered with the Securities and Exchange Commission (SEC) under the Investment Advisers Act of 1940.