Articles from Source Capital

The Board of Directors of Source Capital (NYSE: SOR) (the “Fund”), approved maintaining the Fund’s regular monthly distribution rate for April and May 2025 as follows:

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.

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

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:

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.