In plain terms — Source Capital
Shares currently cost about 11.1% less than the value of the assets behind them (a discount).
Over the past year it has averaged a 5.6% discount, so today's level is somewhat wide for this fund (Z-score -1.5). That describes the past; it does not predict where the discount goes next.
It pays regular distributions worth about 5.6% a year of the share price (5.0% of the assets). That is a payout rate, not a return: part of it may be capital being handed back.
Because the shares trade below the value of their assets, each dollar of reinvested distributions buys about $1.12 of assets — a ReinvestCapture™ rate of 6.3%, more than the payout rate itself. That is buying power, not a return.
The assets themselves grew 11.3% over the past year including distributions (NAV total return).
Guided view hides the statistical panels. Switch to Expert view in the grey bar to see them. Nothing here is advice.
Price and NAV, past year
Snapshot
Valuation vs. history
| Window | Average prem/disc | Std. dev. | Z-score | Observations |
|---|---|---|---|---|
| 3 months | -8.51% | 0.78% | -1.69 | 64 |
| 6 months | -7.91% | 1.19% | -1.61 | 126 |
| 1 year | -5.63% | 2.73% | -1.54 | 250 |
| 3 years | -5.73% | — | — | — |
| 5 years | -6.59% | — | — | — |
Current contemporaneous premium/discount -9.82% (close Oct 14, 2026 vs NAV Oct 13, 2026). 1-year range -10.09% to +1.20%. A negative Z-score means a wider discount than the window average — not that the fund is undervalued.
Performance
| Series | 1M | 3M | YTD | 1Y | 3Y (ann.) | 5Y (ann.) |
|---|---|---|---|---|---|---|
| Market price return | -2.53% | -2.13% | -1.68% | -0.09% | +5.30% | -0.57% |
| Market price total return | -2.09% | -0.80% | +2.34% | +5.43% | +14.27% | +8.15% |
| NAV return | -0.34% | +0.92% | +3.05% | +5.76% | +5.91% | +0.80% |
| NAV total return | +0.08% | +2.19% | +7.03% | +11.29% | +14.47% | +9.10% |
Through Oct 14, 2026. Total return reinvests distributions at the series value on the ex-date. Cumulative ≤ 1 year, annualised beyond.
About the fund
Source Capital, Inc., known by its ticker SOR, is a closed-end, balanced investment fund under the management of First Pacific Advisors, LLC. Its investment mandate primarily targets the public equity markets within the United States, aiming to allocate capital across a broad spectrum of industry sectors. A core tenet of its strategy involves identifying value-oriented equities, specifically within the small and mid-capitalization segments. The construction of its portfolio is driven by a meticulous, bottom-up fundamental analysis. This involves a rigorous screening process that prioritizes companies exhibiting robust liquidity, conservative balance sheets (characterized by low leverage), and a proven long-term capacity to generate superior returns on invested capital. Source Capital's performance is gauged against a trio of prominent market benchmarks: the Russell 2500 Index, the S&P 500 Index, and the Nasdaq Composite Index. The fund itself was established on June 1, 1968, and operates from its base in the United States.
CEF Explorer research page for Source Capital. Figures carry their own dates and sources; a discount to NAV does not guarantee convergence or any return. This is not investment advice.