UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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Item 8.01 Other Events
The Board of Directors of Source Capital, Inc. (the “Fund”) announced that for the Fund’s Discount Management Program (the “Program”) measurement period from January 1, 2023 through December 31, 2023, the Fund traded at an average discount to net asset value (NAV) of less than 10%. As a result, the tender offer for calendar year 2023 under the Fund’s Program will not occur. Further, the Board approved a contingent tender offer for calendar year 2025 in addition to the contingent tender offer currently in place for 2024. The Fund has also announced that, effective today, the Fund’s investment adviser, First Pacific Advisors, LP, has updated the description of the Fund’s strategy to read, “Generally, under normal conditions, up to 70% of the Fund’s assets will be allocated to equities, with the remaining assets allocated to public and private credit of varying quality.” These matters are more fully described in the press release published on January 2, 2024, which is attached to this Current Report on Form 8-K as Exhibit 99.1.
Item 9.01 Financial Statements and Exhibits
| Exhibit No. | Description | |
| 99.1 | Press release dated January 2, 2024 |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Source Capital, Inc.
(Registrant)
| /s/ Diane Drake |
Name: Diane Drake
Title: Secretary
Dated: January 2, 2024
| Exhibit No. | Description | |
| 99.1 | Press release dated January 2, 2024 |