Source Capital, Inc. is a close-ended balanced fund launched and managed by First Pacific Advisors, LLC. The fund invests in the public equity markets of the United States. It seeks to invest in the stocks of companies operating across diversified sectors. The fund primarily invests in value stocks of small to mid cap companies. It employs fundamental analysis with a bottom-up stock selection approach, focusing on such factors as high liquidity, relatively unleveraged balance sheets, and long-term ability to earn above-average returns on capital to create its portfolio. The fund benchmarks the performance of its portfolio against the Russell 2500 Index, the S&P 500 Index, and the Nasdaq Composite Index. Source Capital, Inc. was formed in June 1, 1968 and is domiciled in the United States.
IPO Year:
Exchange: NYSE
Website: fpafunds.com/sourcecapitalfund.asp
| Date | Price Target | Rating | Analyst |
|---|
SC 13G/A - SOURCE CAPITAL INC /DE/ (0000091847) (Subject)
SC 13G/A - SOURCE CAPITAL INC /DE/ (0000091847) (Subject)
SC 13G/A - SOURCE CAPITAL INC /DE/ (0000091847) (Subject)
Highlights Key Terms and Departures from Shareholder Interests Questions Process and Motivations of 180 Degree Capital Corp.'s Board of Directors' Cavalier Rejection of the Alternative Source Capital Proposal Highlights Need for Transparency from the TURN Board and a Fair Process to Allow Shareholders to Determine the Right Path Forward CHICAGO, Feb. 11, 2025 /PRNewswire/ -- Marlton Partners L.P. (together with its affiliates and group members, "Marlton" or "we"), beneficial owners of approximately 4.6% of the outstanding stock of 180 Degree Capital Corp. (NASDAQ:TURN)(the "Company"), today issued the following statement expressing its concern about TURN's definitive merger agreement with
Source Capital (NYSE:SOR), a closed-end fund ("Source"), is disappointed that the Board of Directors of 180 Degree Capital Corp. (NASDAQ:TURN) ("TURN") quickly rejected Source's non-binding initial proposal in three business days without any dialogue with Source to reach an agreement that would maximize value for all TURN shareholders. The market reacted positively to Source's proposal, and at least one of TURN's large shareholders has publicly urged TURN to engage with Source. Source remains committed to a potential merger and hopes to work constructively with TURN's Board of Directors. Forward-Looking Statements Certain statements contained in this letter are forward-looking and/o
Calls on 180 Capital Corp's Board of Directors to Engage with Source and Pursue Best Path to Maximize Shareholder Value CHICAGO, Jan. 27, 2025 /PRNewswire/ -- Marlton Partners L.P. (together with its affiliates and group members, "Marlton" or "we"), beneficial owners of approximately 4.6% of the outstanding stock of 180 Degree Capital Corp. (NASDAQ:TURN) (the "Company"), today issued the following statement calling on the TURN Board of Directors (the "Board") to engage with Source Capital (NYSE: SOR) ("Source") and consider its proposed merger with TURN as announced on January 24, 2025. We are pleased that additional market participants are beginning to appreciate our long-held view that th
Source Capital (NYSE:SOR), a closed-end fund ("Source"), is interested in discussing a potential merger with 180 Degree Capital Corp. (NASDAQ:TURN) ("TURN"). First Pacific Advisors, LP ("FPA"), is the adviser to Source and is a registered investment adviser. FPA currently manages $27 billion, which includes $350 million1 related to its management of Source. FPA has a long history of investment excellence - of the 150 largest mutual fund families in the United States, Morningstar recently ranked FPA #2 in terms of "Average Morningstar Rating."2 We propose that TURN merge into Source in an all-stock transaction valuing TURN at 101% of net asset value per share ("NAV").3 The benefits of So
The Board of Directors of Source Capital (NYSE:SOR) (the "Fund"), approved maintaining the Fund's regular monthly distribution rate for March 2025 as follows: Regular Monthly Distribution: Month Rate per Common Share Record Date Payable Date March 2025 $0.2083 March 14, 2025 March 31, 2025 About Source Capital Source Capital is a closed-end investment company managed by First Pacific Advisors, LP. Its shares are listed on the New York Stock Exchange under the symbol "SOR." The investment objective of the Fund is to seek maximum total return for shareholders from both capital appreciation and investment income to the extent consisten
The Board of Trustees of Source Capital (NYSE:SOR) (the "Fund"), today announced that for the Fund's Discount Management Program (the "Program") measurement period from January 1, 2024 through December 31, 2024, the Fund traded at an average discount to net asset value (NAV) of less than 10%. In fact, the discount declined to less than 1% on December 31, 2024, its smallest discount since 2008. As a result, the tender offer for calendar year 2024 under the Fund's Program will not occur. In addition to the contingent tender offer in place for calendar year 2025 (as described in the January 2, 2024 press release), the Board of Trustees ("Board") approved a contingent tender offer for calenda
The Board of Directors of Source Capital, Inc. (NYSE:SOR) (the "Fund"), approved a special distribution in December as follows: Special Distribution: Month Rate per Common Share Record Date Payable Date December 2024 $2.65841 December 30, 2024 January 9, 2025 The Internal Revenue Code requires a regulated investment company to distribute substantially all of its net investment income and net realized capital gains to shareholders of record on or before December 31 in order to avoid the imposition of a federal excise tax. The special year-end distribution was declared because the Company has realized substantial capital gains during 20
The Board of Directors of Source Capital, Inc. (NYSE:SOR) (the "Fund"), approved a special distribution: Special Distribution: Month Rate per Common Share Record Date Payable Date December 2024 $TBD* December 30, 2024 January 9, 2025 *The final rate is estimated to be approximately 1%-3% of net asset value and is expected to be determined on or about December 27, 2024. About Source Capital, Inc. Source Capital, Inc. is a closed-end investment company managed by First Pacific Advisors, LP. Its shares are listed on the New York Stock Exchange under the symbol "SOR." The investment objective of the Fund is to seek maximum total r
Source Capital, Inc. (NYSE:SOR) (the "Fund"), announced that it will reorganize into a Delaware Trust after the close of business on December 31, 2024, under the terms and conditions approved by shareholders at the Annual Meeting held in July 2024. Upon the reorganization, the Fund's name will change to "Source Capital" but will continue to trade on the NYSE under the SOR ticker. The Fund also announced that a special year-end distribution will be required for 2024. Due to the timing of the reorganization, the special year-end distribution will be declared at or near the end of December and paid in early January 2025. The distribution will be taxable in 2024 and is estimated to be approxi
The Board of Directors of Source Capital, Inc. (NYSE:SOR) (the "Fund"), approved maintaining the Fund's regular monthly distribution rate for each of the next three months as follows: Regular Monthly Distributions: Month Rate per Common Share Record Date Payable Date December 2024 $0.2083 December 16, 2024 December 30, 2024 January 2025 $0.2083 January 17, 2025 January 31, 2025 February 2025 $0.2083 February 14, 2025 February 28, 2025 About Source Capital, Inc. Source Capital, Inc. is a closed-end investment company managed by First Pacific Advisors, LP. Its shares are listed on the New York Stock Exchange under th
LOS ANGELES--(BUSINESS WIRE)--The Board of Directors of Source Capital, Inc. (NYSE: SOR) (the “Fund”), today declared a regular monthly distribution of 8.3 cents a common share, payable January 29, 2021, to shareholders of record as of the close of business January 19, 2021. Consistent with the press release dated October 13, 2020, the Fund will pay out monthly distributions from this point forward. Source Capital, Inc. is a closed-end investment company managed by First Pacific Advisors, LP. Distributions may include ordinary income, net capital gains and/or returns of capital. Generally, a return of capital would occur when the amount distributed by the Fund includes a portion o
5 - SOURCE CAPITAL INC /DE/ (0000091847) (Issuer)
5 - SOURCE CAPITAL INC /DE/ (0000091847) (Issuer)
4 - SOURCE CAPITAL INC /DE/ (0000091847) (Issuer)
3/A - SOURCE CAPITAL INC /DE/ (0000091847) (Issuer)
3 - SOURCE CAPITAL INC /DE/ (0000091847) (Issuer)
3 - SOURCE CAPITAL INC /DE/ (0000091847) (Issuer)
3 - SOURCE CAPITAL INC /DE/ (0000091847) (Issuer)
3 - SOURCE CAPITAL INC /DE/ (0000091847) (Issuer)
3 - SOURCE CAPITAL INC /DE/ (0000091847) (Issuer)
3 - SOURCE CAPITAL INC /DE/ (0000091847) (Issuer)
N-8A/A - SOURCE CAPITAL INC /DE/ (0000091847) (Filer)
8-K - SOURCE CAPITAL INC /DE/ (0000091847) (Filer)
N-CSRS - SOURCE CAPITAL INC /DE/ (0000091847) (Filer)
N-PX - SOURCE CAPITAL INC /DE/ (0000091847) (Filer)
DEFA14A - SOURCE CAPITAL INC /DE/ (0000091847) (Filer)
DEFA14A - SOURCE CAPITAL INC /DE/ (0000091847) (Filer)
DEFA14A - SOURCE CAPITAL INC /DE/ (0000091847) (Filer)
DEFA14A - SOURCE CAPITAL INC /DE/ (0000091847) (Filer)
DEFA14A - SOURCE CAPITAL INC /DE/ (0000091847) (Filer)
NPORT-P - SOURCE CAPITAL INC /DE/ (0000091847) (Filer)
Highlights Key Terms and Departures from Shareholder Interests Questions Process and Motivations of 180 Degree Capital Corp.'s Board of Directors' Cavalier Rejection of the Alternative Source Capital Proposal Highlights Need for Transparency from the TURN Board and a Fair Process to Allow Shareholders to Determine the Right Path Forward CHICAGO, Feb. 11, 2025 /PRNewswire/ -- Marlton Partners L.P. (together with its affiliates and group members, "Marlton" or "we"), beneficial owners of approximately 4.6% of the outstanding stock of 180 Degree Capital Corp. (NASDAQ:TURN)(the "Company"), today issued the following statement expressing its concern about TURN's definitive merger agreement with
Calls on 180 Capital Corp's Board of Directors to Engage with Source and Pursue Best Path to Maximize Shareholder Value CHICAGO, Jan. 27, 2025 /PRNewswire/ -- Marlton Partners L.P. (together with its affiliates and group members, "Marlton" or "we"), beneficial owners of approximately 4.6% of the outstanding stock of 180 Degree Capital Corp. (NASDAQ:TURN) (the "Company"), today issued the following statement calling on the TURN Board of Directors (the "Board") to engage with Source Capital (NYSE: SOR) ("Source") and consider its proposed merger with TURN as announced on January 24, 2025. We are pleased that additional market participants are beginning to appreciate our long-held view that th
The Board of Directors of Source Capital (NYSE:SOR) (the "Fund"), approved maintaining the Fund's regular monthly distribution rate for March 2025 as follows: Regular Monthly Distribution: Month Rate per Common Share Record Date Payable Date March 2025 $0.2083 March 14, 2025 March 31, 2025 About Source Capital Source Capital is a closed-end investment company managed by First Pacific Advisors, LP. Its shares are listed on the New York Stock Exchange under the symbol "SOR." The investment objective of the Fund is to seek maximum total return for shareholders from both capital appreciation and investment income to the extent consisten
The Board of Trustees of Source Capital (NYSE:SOR) (the "Fund"), today announced that for the Fund's Discount Management Program (the "Program") measurement period from January 1, 2024 through December 31, 2024, the Fund traded at an average discount to net asset value (NAV) of less than 10%. In fact, the discount declined to less than 1% on December 31, 2024, its smallest discount since 2008. As a result, the tender offer for calendar year 2024 under the Fund's Program will not occur. In addition to the contingent tender offer in place for calendar year 2025 (as described in the January 2, 2024 press release), the Board of Trustees ("Board") approved a contingent tender offer for calenda
The Board of Directors of Source Capital, Inc. (NYSE:SOR) (the "Fund"), approved a special distribution: Special Distribution: Month Rate per Common Share Record Date Payable Date December 2024 $TBD* December 30, 2024 January 9, 2025 *The final rate is estimated to be approximately 1%-3% of net asset value and is expected to be determined on or about December 27, 2024. About Source Capital, Inc. Source Capital, Inc. is a closed-end investment company managed by First Pacific Advisors, LP. Its shares are listed on the New York Stock Exchange under the symbol "SOR." The investment objective of the Fund is to seek maximum total r
Source Capital, Inc. (NYSE:SOR) (the "Fund"), announced that it will reorganize into a Delaware Trust after the close of business on December 31, 2024, under the terms and conditions approved by shareholders at the Annual Meeting held in July 2024. Upon the reorganization, the Fund's name will change to "Source Capital" but will continue to trade on the NYSE under the SOR ticker. The Fund also announced that a special year-end distribution will be required for 2024. Due to the timing of the reorganization, the special year-end distribution will be declared at or near the end of December and paid in early January 2025. The distribution will be taxable in 2024 and is estimated to be approxi
The Board of Directors of Source Capital, Inc. (NYSE:SOR) (the "Fund"), approved maintaining the Fund's regular monthly distribution rate for each of the next three months as follows: Regular Monthly Distributions: Month Rate per Common Share Record Date Payable Date December 2024 $0.2083 December 16, 2024 December 30, 2024 January 2025 $0.2083 January 17, 2025 January 31, 2025 February 2025 $0.2083 February 14, 2025 February 28, 2025 About Source Capital, Inc. Source Capital, Inc. is a closed-end investment company managed by First Pacific Advisors, LP. Its shares are listed on the New York Stock Exchange under th
The Board of Directors of Source Capital, Inc. (NYSE:SOR) (the "Fund"), approved maintaining the Fund's regular monthly distribution rate for each of the next three months as follows: Regular Monthly Distributions: Month Rate per Common Share Record Date Payable Date September 2024 $0.2083 September 17, 2024 September 30, 2024 October 2024 $0.2083 October 15, 2024 October 31, 2024 November 2024 $0.2083 November 14, 2024 November 29, 2024 About Source Capital, Inc. Source Capital, Inc. is a closed-end investment company managed by First Pacific Advisors, LP. Its shares are l
The Board of Directors of Source Capital, Inc. (NYSE:SOR) (the "Fund"), approved maintaining the Fund's regular monthly distribution rate for each of the next three months as follows: Regular Monthly Distributions: Month Rate per Common Share Record Date Payable Date June 2024 $0.2083 June 18, 2024 June 28, 2024 July 2024 $0.2083 July 16, 2024 July 31, 2024 August 2024 $0.2083 August 15, 2024 August 30, 2024 About Source Capital, Inc. Source Capital, Inc. is a closed-end investment company managed by First Pacific Advisors, LP. Its shares are listed on the New York Stock Ex
The Board of Directors of Source Capital, Inc. (NYSE:SOR) (the "Fund"), today approved maintaining the Fund's regular monthly distribution rate for each of the next three months as follows: Month Cents per Common Share Record Date Payable Date September 2021 18.5 September 6, 2021 September 30, 2021 October 2021 18.5 October 18, 2021 October 29, 2021 November 2021 18.5 November 16, 2021 November 30, 2021 About Source Capital, Inc. Source Capital, Inc. is a closed-end investment company managed by First Pacific Advisors, LP. Its shares are listed on the New York Stock Exchange under the symbol "SOR." The inv