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FPA Flexible Fixed Income Fund

| Quarterly Commentary

FPA Flexible Fixed Income Fund 2Q24 Commentary

FPA Flexible Fixed Income Fund (the “Fund”) returned 1.20% in the second quarter of 2024 and 2.39% year-to-date through June 30, 2024.

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FPA Queens Road Small Cap Value Fund

| Quarterly Commentary

FPA Queens Road Small Cap Value Fund 2Q24 Commentary

The FPA Queens Road Small-cap Value Fund (“Fund”) returned -2.62% in the second quarter of 2024.

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FPA New Income Fund

| Quarterly Commentary

FPA New Income Fund 2Q24 Commentary

FPA New Income Fund (the “Fund”) returned 0.97% in the second quarter of 2024 and 1.84% year-todate through June 30, 2024.

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FPA Crescent Fund

| Quarterly Commentary

FPA Crescent Fund 2Q24 Commentary

The FPA Crescent Fund – Institutional Class (“Fund” or “Crescent”) gained 2.67% in Q2 2024 and 16.37% in the trailing twelve months.

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FPA Queens Road Small Cap Value Fund

| Webcasts

FPA Queens Road Small Cap Value Fund 2Q24 Webcast

See the slides, transcript and access the webinar recording

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Thumbnail for FPA New Income and Flexible Fixed Income Funds 2Q24 Webcast
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FPA New Income Fund
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FPA Flexible Fixed Income Fund

| Webcasts

FPA New Income and Flexible Fixed Income Funds 2Q24 Webcast

See the slides, transcript and access the webinar recording

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| Fund Announcements

FPA Announces the Retirement of Managing Partner J. Richard Atwood

J. Richard Atwood, a Managing Partner since 2000, will retire at the end of the year, following a four-decade relationship with the firm.

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FPA Crescent Fund

| Webcasts

FPA Crescent Fund 1Q24 Webcast

See the slides, transcript and access the webinar recording

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Source Capital

| Fund Announcements

Source Capital, Inc. Declares Monthly Distributions on Common Stock

The Board of Directors of Source Capital, Inc., approved maintaining the Fund’s regular monthly distribution rate for each of the next three months.

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