Dividend Investing Ideas Center
Critical Facts You Need to Know About Preferred Stocks
Have you ever wished for the safety of bonds, but the return potential...
Name
As of 11/29/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
YTD Return
15.4%
1 yr return
19.2%
3 Yr Avg Return
8.3%
5 Yr Avg Return
10.5%
Net Assets
$9.99 B
Holdings in Top 10
27.4%
Expense Ratio 1.08%
Front Load N/A
Deferred Load N/A
Turnover 20.00%
Redemption Fee N/A
Standard (Taxable)
$1,500
IRA
$100
Fund Type
Open End Mutual Fund
Name
As of 11/29/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
To pursue the Fund's investment objective, the Fund's portfolio managers invest in both equity and debt securities of companies. The Fund's portfolio managers believe that this combination of securities broadens the universe of opportunities for the Fund, offers additional diversification and helps to lower volatility. The portfolio managers invest primarily in equity securities and the balance of the Fund's portfolio in debt securities, cash, and cash equivalents. The Fund has no limit on the amount of assets it may invest in non-U.S. securities. The decision to invest in a non-U.S. security will be based on the portfolio managers' fundamental security analysis. In addition, the Fund may sell securities short, and the portfolio managers may employ a short selling strategy for a portion of the Fund.
Equity securities represent an ownership interest, or the right to acquire an ownership interest, in an issuer. Different types of equity securities provide different voting and dividend rights and priority in case of the bankruptcy of the issuer. The Fund may invest in a variety of equity securities, including common stocks, preferred stocks, convertible securities, rights, and warrants.
The portfolio managers look for large and small companies that they believe to have excellent future prospects that are undervalued by the securities markets. The portfolio managers believe that these opportunities often arise when companies are out-of-favor or undiscovered by most of Wall Street. The portfolio managers also search for companies that offer earnings growth, opportunity for price/earnings multiple expansion and the best combination of such quality criteria as strong market share, good management, high barriers to entry and high return on capital.
Using fundamental security analysis, the portfolio managers may look for investments that trade at a substantial discount to the portfolio managers' determination of the company's value (absolute value) rather than those that might appear inexpensive based on a discount to their peer groups or
the market average (relative value). The portfolio managers attempt to determine a company's absolute value using fundamental security analysis, which they believe generally provides them with a thorough view of a company's financial and business characteristics. As a part of their process, the portfolio managers may:
• Review stock prices or industry group under-performance, insider purchases, management changes and corporate spin-offs.
• Communicate directly with company management, suppliers, and customers.
• Use their judgment to define the company's future potential, financial strength, and competitive position.
The portfolio managers generally seek to sell an equity investment when they believe that the company's value has been fully reflected in a higher valuation by the market or when a negative fundamental development occurs in the company or its industry that the portfolio managers believe could significantly impact future earnings growth.
A debt security is an interest-bearing security that companies or governments use to borrow money from investors. The issuer of a debt security promises to pay interest at a stated rate, which may be variable or fixed, and to repay the amount borrowed at maturity (the date when the debt security is due and payable). The Fund may invest in debt securities issued by companies, the U.S. government, and its agencies; mortgage-backed and asset-backed securities (i.e. securities that are backed by pools of loans or mortgages assembled for sale to investors); municipal notes and bonds; and commercial paper and certificates of deposit.
The portfolio managers invest in debt securities seeking to provide the Fund with a reliable and recurring stream of income, while seeking to preserve its capital. The Fund may also invest in debt securities rated below investment grade ("high yield bonds" or "junk bonds"). The Fund has the ability to invest up to 65% of its total assets in debt securities, although it will generally invest a greater percentage of its portfolio in equity securities than debt securities.
The portfolio managers select debt securities by using an approach that is similar to the approach they use to select equity securities and by trying to forecast current interest rate trends. The portfolio managers generally employ a defensive interest rate strategy, which means they seek to keep the average maturity of the debt-securities portion of the Fund to 10 years or less, by investing at different points along the yield curve. The portfolio managers also continually consider yield spreads and other underlying factors such as credit quality, investor perception and liquidity to determine which sectors offer the best investment value at any given time.
The portfolio managers may engage in a strategy known as selling short. Selling a security short is when the Fund sells a security it does not own. To sell a security short, the Fund must borrow the security from someone else to deliver to the buyer. The Fund then replaces the security it borrowed by purchasing it at the market price at or before the time of replacement. Until it replaces the security, the Fund repays the person that lent it the security for any interest or dividends that may have accrued during the period of the loan. The Fund typically sells securities short to take advantage of an anticipated decline in prices or to protect a profit in a security it already owns.
Period | FPACX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 15.4% | 2.0% | 26.2% | 67.82% |
1 Yr | 19.2% | 4.8% | 33.8% | 75.78% |
3 Yr | 8.3%* | -8.8% | 12.8% | 8.54% |
5 Yr | 10.5%* | 1.7% | 13.4% | 13.41% |
10 Yr | 7.8%* | 1.0% | 11.8% | 35.51% |
* Annualized
Period | FPACX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 15.9% | -6.9% | 29.3% | 13.89% |
2022 | -9.9% | -37.4% | -8.2% | 1.78% |
2021 | 2.9% | -9.8% | 25.4% | 84.06% |
2020 | 6.3% | -21.0% | 25.4% | 56.70% |
2019 | 14.6% | -8.3% | 27.9% | 50.79% |
Period | FPACX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 15.4% | 2.0% | 26.2% | 67.82% |
1 Yr | 19.2% | 4.8% | 33.8% | 75.78% |
3 Yr | 8.3%* | -8.8% | 12.8% | 8.54% |
5 Yr | 10.5%* | 1.7% | 13.4% | 13.41% |
10 Yr | 7.8%* | 1.0% | 11.8% | 35.51% |
* Annualized
Period | FPACX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 19.1% | -0.9% | 33.0% | 15.63% |
2022 | -9.9% | -36.0% | -0.9% | 16.73% |
2021 | 15.2% | -7.8% | 33.9% | 63.77% |
2020 | 12.1% | -16.2% | 25.4% | 60.15% |
2019 | 20.0% | 7.3% | 34.8% | 71.65% |
FPACX | Category Low | Category High | FPACX % Rank | |
---|---|---|---|---|
Net Assets | 9.99 B | 1.43 M | 120 B | 17.30% |
Number of Holdings | 153 | 4 | 2696 | 21.11% |
Net Assets in Top 10 | 2.92 B | 1.28 M | 27.7 B | 23.88% |
Weighting of Top 10 | 27.37% | 19.7% | 118.4% | 84.08% |
Weighting | Return Low | Return High | FPACX % Rank | |
---|---|---|---|---|
Stocks | 59.17% | 0.00% | 100.10% | 89.27% |
Bonds | 36.49% | 0.00% | 102.71% | 1.38% |
Convertible Bonds | 0.38% | 0.00% | 26.48% | 40.77% |
Other | 0.34% | -0.25% | 26.93% | 19.03% |
Cash | 0.32% | 0.00% | 100.00% | 62.28% |
Preferred Stocks | 0.20% | 0.00% | 16.57% | 10.38% |
Weighting | Return Low | Return High | FPACX % Rank | |
---|---|---|---|---|
Communication Services | 26.62% | 0.00% | 26.62% | 0.35% |
Financial Services | 24.48% | 0.28% | 52.80% | 3.83% |
Technology | 16.74% | 3.31% | 52.93% | 71.43% |
Basic Materials | 11.49% | 0.00% | 11.49% | 0.35% |
Consumer Cyclical | 8.61% | 0.00% | 16.01% | 77.00% |
Industrials | 5.44% | 1.16% | 32.55% | 97.21% |
Utilities | 2.45% | 0.00% | 31.67% | 70.03% |
Energy | 2.10% | 0.00% | 29.22% | 96.52% |
Consumer Defense | 2.07% | 0.00% | 14.86% | 94.08% |
Real Estate | 0.00% | 0.00% | 33.86% | 94.77% |
Healthcare | 0.00% | 0.00% | 36.30% | 99.65% |
Weighting | Return Low | Return High | FPACX % Rank | |
---|---|---|---|---|
US | 43.76% | 0.00% | 100.10% | 89.97% |
Non US | 15.41% | 0.00% | 21.17% | 10.38% |
Weighting | Return Low | Return High | FPACX % Rank | |
---|---|---|---|---|
Corporate | 3.31% | 0.00% | 98.43% | 95.12% |
Government | 2.14% | 0.00% | 99.71% | 85.37% |
Derivative | 0.34% | -0.45% | 26.43% | 4.15% |
Cash & Equivalents | 0.12% | 0.00% | 99.25% | 64.71% |
Securitized | 0.00% | 0.00% | 37.97% | 87.80% |
Municipal | 0.00% | 0.00% | 17.02% | 71.08% |
Weighting | Return Low | Return High | FPACX % Rank | |
---|---|---|---|---|
US | 35.16% | 0.00% | 102.71% | 1.38% |
Non US | 1.33% | 0.00% | 1.68% | 3.11% |
FPACX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 1.08% | 0.04% | 4.67% | 40.48% |
Management Fee | 1.00% | 0.00% | 1.25% | 96.54% |
12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
Administrative Fee | 0.07% | 0.01% | 0.25% | 67.11% |
FPACX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | N/A | 2.00% | 5.75% | N/A |
Deferred Load | N/A | 1.00% | 5.00% | N/A |
FPACX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | N/A | 0.00% | 2.00% | 15.38% |
Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.
FPACX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 20.00% | 4.00% | 236.00% | 35.53% |
FPACX | Category Low | Category High | FPACX % Rank | |
---|---|---|---|---|
Dividend Yield | 2.54% | 0.00% | 10.22% | 92.73% |
FPACX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | SemiAnnual | Annual | Quarterly | Annual |
FPACX | Category Low | Category High | FPACX % Rank | |
---|---|---|---|---|
Net Income Ratio | 0.01% | -1.12% | 6.07% | 95.36% |
FPACX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Semi-Annually | Annually | Semi-Annually | Annually |
Date | Amount | Type |
---|---|---|
Jun 26, 2024 | $0.548 | OrdinaryDividend |
Jun 26, 2024 | $0.691 | CapitalGainLongTerm |
Dec 19, 2023 | $1.033 | CapitalGainLongTerm |
Jun 29, 2023 | $0.047 | OrdinaryDividend |
Jun 29, 2022 | $0.018 | OrdinaryDividend |
Dec 20, 2021 | $0.073 | OrdinaryDividend |
Dec 20, 2021 | $0.047 | CapitalGainShortTerm |
Dec 20, 2021 | $3.103 | CapitalGainLongTerm |
Jun 29, 2021 | $0.217 | OrdinaryDividend |
Jun 29, 2021 | $0.129 | CapitalGainShortTerm |
Jun 29, 2021 | $0.734 | CapitalGainLongTerm |
Dec 18, 2020 | $0.272 | CapitalGainShortTerm |
Dec 18, 2020 | $0.526 | CapitalGainLongTerm |
Jun 29, 2020 | $0.108 | OrdinaryDividend |
Jun 29, 2020 | $0.819 | CapitalGainLongTerm |
Dec 18, 2019 | $0.591 | OrdinaryDividend |
Dec 18, 2019 | $0.367 | CapitalGainLongTerm |
Jun 27, 2019 | $0.209 | OrdinaryDividend |
Jun 27, 2019 | $0.407 | CapitalGainLongTerm |
Dec 18, 2018 | $0.200 | OrdinaryDividend |
Dec 18, 2018 | $2.210 | CapitalGainLongTerm |
Jul 02, 2018 | $0.010 | OrdinaryDividend |
Jul 02, 2018 | $0.200 | CapitalGainLongTerm |
Dec 19, 2017 | $0.260 | OrdinaryDividend |
Dec 19, 2017 | $0.630 | CapitalGainLongTerm |
Jul 03, 2017 | $0.080 | OrdinaryDividend |
Jul 03, 2017 | $0.315 | CapitalGainLongTerm |
Dec 20, 2016 | $0.290 | OrdinaryDividend |
Dec 20, 2016 | $0.010 | CapitalGainShortTerm |
Dec 20, 2016 | $1.090 | CapitalGainLongTerm |
Jul 01, 2016 | $0.235 | CapitalGainLongTerm |
Dec 21, 2015 | $0.210 | OrdinaryDividend |
Dec 21, 2015 | $1.630 | CapitalGainLongTerm |
Jul 01, 2015 | $0.100 | OrdinaryDividend |
Jul 01, 2015 | $0.030 | CapitalGainLongTerm |
Dec 22, 2014 | $0.110 | OrdinaryDividend |
Dec 22, 2014 | $1.010 | CapitalGainLongTerm |
Jul 01, 2014 | $0.200 | OrdinaryDividend |
Jul 01, 2014 | $0.090 | CapitalGainLongTerm |
Dec 18, 2013 | $0.030 | OrdinaryDividend |
Dec 18, 2013 | $0.020 | CapitalGainShortTerm |
Dec 18, 2013 | $1.150 | CapitalGainLongTerm |
Jul 01, 2013 | $0.130 | OrdinaryDividend |
Jan 02, 2013 | $0.050 | OrdinaryDividend |
Jan 02, 2013 | $1.110 | CapitalGainLongTerm |
Jul 02, 2012 | $0.120 | OrdinaryDividend |
Jul 02, 2012 | $0.030 | CapitalGainShortTerm |
Jul 02, 2012 | $0.090 | CapitalGainLongTerm |
Dec 20, 2011 | $0.100 | OrdinaryDividend |
Dec 20, 2011 | $0.470 | CapitalGainLongTerm |
Jul 01, 2011 | $0.210 | OrdinaryDividend |
Jul 01, 2011 | $0.040 | CapitalGainLongTerm |
Dec 13, 2010 | $0.150 | OrdinaryDividend |
Dec 13, 2010 | $0.020 | CapitalGainShortTerm |
Dec 13, 2010 | $0.430 | CapitalGainLongTerm |
Jul 01, 2010 | $0.170 | OrdinaryDividend |
Jul 01, 2010 | $0.190 | CapitalGainShortTerm |
Dec 14, 2009 | $0.135 | OrdinaryDividend |
Jul 01, 2009 | $0.170 | OrdinaryDividend |
Dec 15, 2008 | $0.160 | OrdinaryDividend |
Jul 01, 2008 | $0.210 | OrdinaryDividend |
Jul 01, 2008 | $0.230 | CapitalGainLongTerm |
Dec 17, 2007 | $0.250 | OrdinaryDividend |
Dec 17, 2007 | $1.570 | CapitalGainLongTerm |
Jul 02, 2007 | $0.500 | OrdinaryDividend |
Jul 02, 2007 | $0.590 | CapitalGainLongTerm |
Dec 18, 2006 | $0.250 | OrdinaryDividend |
Dec 18, 2006 | $1.050 | CapitalGainLongTerm |
Jul 03, 2006 | $0.280 | OrdinaryDividend |
Jul 03, 2006 | $0.005 | CapitalGainShortTerm |
Jul 03, 2006 | $0.285 | CapitalGainLongTerm |
Dec 16, 2005 | $0.180 | OrdinaryDividend |
Dec 16, 2005 | $0.020 | CapitalGainShortTerm |
Dec 16, 2005 | $0.570 | CapitalGainLongTerm |
Jul 01, 2005 | $0.150 | OrdinaryDividend |
Dec 16, 2004 | $0.060 | OrdinaryDividend |
Dec 16, 2004 | $0.070 | CapitalGainLongTerm |
Jul 01, 2004 | $0.020 | OrdinaryDividend |
Jul 01, 2004 | $0.300 | CapitalGainLongTerm |
Dec 16, 2003 | $0.080 | OrdinaryDividend |
Jul 01, 2003 | $0.070 | OrdinaryDividend |
Dec 17, 2002 | $0.240 | OrdinaryDividend |
Start Date
Tenure
Tenure Rank
Jun 02, 1993
29.01
29.0%
Steven Romick, CFA, Managing Partner, joined FPA in 1996. Steven serves as Portfolio Manager for the FPA Contrarian Value Strategy, the FPA Contrarian Value Equity Strategy, Source Capital, Inc., and Co-Portfolio Manager for the FPA Multi-Advisor Strategy. Prior to joining FPA, Steven was Chairman of Crescent Management and a consulting security analyst for Kaplan, Nathan & Co. Steven earned a Bachelor's degree in Education from Northwestern University.
Start Date
Tenure
Tenure Rank
Jun 02, 2013
9.0
9.0%
Mark Landecker, CFA, Partner, joined FPA in 2009. Mark serves as Portfolio Manager for the FPA Contrarian Value Strategy, the FPA Contrarian Value Equity Strategy, and Source Capital, Inc. Prior to joining FPA, Mark served as Portfolio Manager at both Kinney Asset Management and Arrow Investments, Inc., and as associate at TD Capital and PricewaterhouseCoopers. Mark earned a BBA (with honors) from the Schulich School of Business, York University, Toronto, Canada.
Start Date
Tenure
Tenure Rank
Jun 02, 2013
9.0
9.0%
Brian A. Selmo, CFA, Partner, joined FPA in 2008. Brian serves as Portfolio Manager and Director of Research for the FPA Contrarian Value Strategy, the FPA Contrarian Value Equity Strategy, and Source Capital, Inc. Prior to joining FPA, Brian was founder and managing member of Eagle Lake Capital, LLC, and Portfolio Manager of its predecessor. Previously, he was an analyst at Third Avenue Management and Rothschild, Inc. Brian earned a Bachelor's degree in Economics (with honors) from The Johns Hopkins University, where he graduated Phi Beta Kappa.
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.08 | 38.44 | 7.38 | 2.41 |
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