This is interesting given that the aforementioned fund companies (Fidelity and TRP) allow some of their fund managers to hold more than 5% positions in companies.
As an example for a couple of widely held funds from these investment shops;
Fidelity Blue Chip Growth, FBGRX
Apple, 10.03, NVIDIA, 9.68, Microsoft, 9.13, Amazon, 7.54, Alphabet, 5.37
TRP Blue Chip Growth, TRBCX
Microsoft, 14.00, Apple, 11.3, Amazon, 7.69, Alphabet, 6.19, NVIDIA, 5.92
Portfolio info from M*.

See October 2022 press release from the SEC requiring "concise and visually engaging" fund reports. Of course, the SEC formal documents on the right panel is only 350 pages! There is an 18-month transition period but funds can do this earlier.
Mutual funds/OEFs must still provide paper copies; others can just sent a link on the website.
https://www.sec.gov/news/press-release/2022-193

Here's the link to the latest semi annual report for TRP Capital Appreciation, with a twist.
https://prospectus-express.broadridge.com/summary.asp?doctype=semi&clientid=trowepll&fundid=77954M303
The SEC adopted new rules in January evidently, that requires fund companies to transition to a new format, thus TRP will no longer be including the optional 6 month semi-annual fund letter. That's disappointing. The new format is called "Tailored Shareholder Report". This is required to be instituted by mid-2024.
Possibly, some of you have more information on this?

Aug 25th Episode:

Discover insights from renowned investor Steven Romick, Co-Portfolio Manager of the FPA Crescent Fund, which celebrates its 30th anniversary this year. Unlike most funds, FPA Crescent has not only survived but thrived for three decades, delivering almost 10% annualized returns with lower volatility than the S&P 500.

You far-right hard-liners love to complain about “the "crazy political rantings that have infested every thread on here”, "mostly the commie liberal snowflake variety". That's a direct quote. ✲
Yet it is manifestly true and factual that the great majority of those rants are initiated by right-wing ideologues such as yourself, as evidenced by this very thread.
You people start this crap, then whine when someone responds with factual information.
✲ rsorden and Baseball_Fan, 8/23/23.

Part 1
OPTIONS. Suggested is putting 80-90% in bonds and 10-20% in selling puts on the blue-chips one would like to own. Any put assignments would be financed from the bond portion. Risk is if the 10-yr keeps rising (now 4.25%).
Part 2
FUNDS. Some funds are using AI for portfolio management – there are 11 AI-based ETFs such as DIP, QRFT, etc. But it is unlikely that AI will replace the managers of active or passive funds, and instead, may become another tool in managers’ toolbox. (By @lewisbraham at MFO)
FUNDS. Marty FLANAGAN, Outgoing CEO, Invesco/IVZ; Trustee SMU; Chairman, Engage Capital. He is stepping down as CEO of IVZ but will continue as an Advisor until 2024. The new CEO and President is Andrew SCHLOSSBERG. During Flanagan’s tenure, IVZ grew into AUM $1.54 trillion powerhouse. He expanded hugely into ETFs (PowerShares, 2006) and Asia (a joint-venture in China). He thinks that the US and China will find some common grounds on business. The recent US investment bans in China were defined quite narrowly; the Secretaries of State BLINKEN and Treasury YELLEN have visited China – these are positive signs despite some tough talk. The fund industry trend towards lower fees has benefitted retail investors. ACTIVE ETFs are a natural development. Key for ETFs is marketing and distribution (an interesting insight into exchange traded products). Interest rates have normalized and fixed-income has become attractive in a very long time. Technological changes happen in stair-steps, and we are seeing one in AI and generative AI.
EXTRA. FUNDS. BlackRock/BLK has supported only a few ESG proposals this year. It said that many were overreaching or redundant. In reality, FINK/BLK has gone quiet from being overly pushy on ESG. BLK was starting to get backlash in its businesses. The new trend is to follow ESG quietly.
INCOME. CREDIT QUALITY issues may show up first in low-rated leveraged FR/BL, then in HY (spreads now are too low), then in investment-grade, and may finally spillover into the equity market. Investors and savers are enjoying high interest RATES, but the flip side for the borrowers isn’t pretty. Many small/medium-size companies that rely on low-rates are facing high variable rates (the traditional fixed-rate bond market is out of their reach). BANKRUPTCY filings are rising, 400 YTD (!), such as Party City, Bed Bath & Beyond, Yellow. It will take just one major, well-known company bankruptcy to change the sentiment. DEFAULT rate for low-rated debt has risen to 3.8% (to 5.8% in 2024/Q1?; even that is low for recessions). But it’s early in the credit cycle and problems may surface in 2024-25. The FED may still raise rates and will keep them higher for longer. Don’t chase returns, be cautious and take some chips off the table. (There are now also investment-grade FR and top-quality Treasury FRNs).
OTHER VOICES. Eugene STEUERLE, Urban Institute (DC think tank) and Urban-Brookings Tax Policy Center. Interest RATES are at 16-yr high, and they will affect people, businesses and the government. The impact on the government will be mixed – increases in deficits and payouts, but reduction in the value of outstanding debt. Savers will benefit from inflation and higher rates, but lenders will see lesser values for their loans; those on fixed income will also suffer. With the end of the cheap money era, hopefully, the allocation decisions will become more rational. Keep in mind the real rates (TIPS rates) vs nominal rates (T-Bills/Notes/Bonds); positive real rates, as now, are restrictive for the economy. There will also be a reckoning for the government when its debt-servicing costs will keep rising.

25 aug, '23.
https://www.bloomberg.com/news/videos/2023-08-25/bloomberg-real-yield-08-25-23-video

25 august, '23.
https://www.bloomberg.com/news/videos/2023-08-26/wall-street-week-08-25-2023-video

https://www.sec.gov/Archives/edgar/data/1026977/000139834423015921/fp0084986-2_497.htm
497 1 fp0084986-2_497.htm
CITY NATIONAL ROCHDALE FUNDS
CITY NATIONAL ROCHDALE CALIFORNIA TAX EXEMPT BOND FUND
Servicing Class (CNTIX)
Class N (CCTEX)
Supplement dated August 25, 2023, to the Summary Prospectus, Statutory Prospectus and the
Statement of Additional Information, each dated January 31, 2023
The Board of Trustees of City National Rochdale Funds has approved a Plan of Liquidation for the City National Rochdale California Tax Exempt Bond Fund (the "Fund"), which authorizes the termination, liquidation, and dissolution of the Fund. In order to effect such liquidation, effective as of the close of business on September 15, 2023, the Fund will be closed to all investments by existing shareholders, and no new Fund accounts may be opened. Shareholders may redeem their shares until the date of liquidation.
The Fund will be liquidated on or about October 16, 2023 (the "Liquidation Date"), and shareholders may voluntarily redeem their shares until the Liquidation Date. Prior to the Liquidation Date, the Fund may declare and pay its shareholders of record one or more dividends or other distributions consisting of any undistributed income and net realized capital gains. On or promptly after the Liquidation Date, the Fund will make a liquidating distribution to its remaining shareholders equal to each shareholder's proportionate interest in the net assets of the Fund, in complete redemption and cancellation of the Fund's shares held by the shareholder, and the Fund will be dissolved.
In anticipation of the liquidation of the Fund, City National Rochdale, LLC, the Fund's adviser, may manage the Fund in a manner intended to facilitate its orderly liquidation, such as by raising cash or making investments in other highly liquid assets. As a result, during this time, all or a portion of the Fund may not be invested in a manner consistent with its stated investment strategies, which may prevent the Fund from achieving its investment objective.
Please contact the Fund at 1-888-889-0799 if you have any questions.
Important Information for Shareholders with IRA Accounts
If you hold your shares in an IRA, you should consult your tax adviser regarding the liquidation of the Fund. You may have 60 days from the date you receive your proceeds to "roll over" your proceeds into another IRA and maintain their tax-deferred status. You must notify the Fund prior to the Liquidation Date of your intent to roll over your IRA account to avoid federal and potential state withholding deductions from your proceeds. If the Fund has not received your redemption request or other instruction, your shares will be liquidated on the Liquidation Date, and you will receive your proceeds from the Fund, subject to any required withholding.
If you have questions or need assistance, please contact a shareholder services representative of the Fund at 1-888-889-0799.
*****
PLEASE RETAIN THIS SUPPLEMENT FOR FUTURE REFERENCE.

“The process (rate hike) still have a way to go” said Powell. This implies the rate will stay higher and longer.
https://npr.org/2023/08/25/1195908947/federal-reserve-jerome-powell-inflation-economy-interest-rates
Somehow the market likes that.

Live - die by tsla 15% of portfolio/
OPTIONS - Strangle tsla wkly 12 15% delta to squeeze out additional +0.25% weekly premiums / hope for 12 13% additional premiums by yr end

With my previous employer (a big box retailer) from whom I retired last year after 35 years, due to a 15% employer match and rapid appreciation its stock alone escalated to 25% of my portfolio. Have whittled that down to @10% after using proceeds for mortgage down payment and charitable gifting. No hurry to reduce further as company pays a dividend and is stable.

According to the fund page at Northern Trust, ARK was removed on Aug 22, 2022, with responsibility for managing the assets reallocated among the remaining five subadvisors on or about Aug 31, 2022.
https://www.northerntrust.com/united-states/what-we-do/investment-management/northern-funds/funds-and-performance/equity/NENGX
According to the fund fact sheet, Northern Trust replaced Strategic Global Advisors with Boston Common Asset Management on Dec 3, 2021. That appears to have been a straight swap; no reallocation is indicated.
https://cdn.northerntrust.com/pws/nt/documents/fact-sheets/mutual-funds/individual/nf_nengx_factsheet.pdf
According to an older (March 2021) version of the fact sheet, Segall Bryant & Hamill was terminated as a subadvisor on May 15, 2020 with assets reallocated among the remaining six subadvisors shortly thereafter.
https://web.archive.org/web/20210516141418/https://cdn.northerntrust.com/pws/nt/documents/fact-sheets/mutual-funds/individual/nf_nengx_factsheet.pdf?bc=25545033
The Northern Trust fund managers were changed in June 2022 (Diez replacing Hart) and in May 2023 (Finegan replacing Vella). Their responsibility is to oversee the fund. Perhaps Diez was responsible for dumping ARK, or perhaps Hart was replaced for supporting ARK too long. Who knows? I'm just looking at the timing.
However, the day to day management of the fund (what we typically think of as the "real" fund management) is handled by the subadvisors. One can't tell who the people are doing the day-to-day management by looking at the fund managers.
In contrast, when third party firms serve a fund advisors (not subadvisors), then it is the day-to-day managers who are listed as the fund managers. For example, VWIGX is advised (not subadvised) by Schroder and Baillie Gifford, and it is their people who are listed as the fund managers.
As one can see from the two NT manager changes, the "new team" did not "take the reins" in May 2023 as M* wrote. Rather, the change was piecemeal, with one change occurring in June 2022. M* suggests that because of this complete turnover of the two NT managers, the past record is now inapplicable - the strategy may have changed. Never mind that (aside from dropping ARK from 5% of the portfolio) the same subadvisor firms have been in place since the end of 2021.
The "people" section of the M* review was computer-generated (it is flagged with a 'Q'). Which just goes to show that humans still rule. Humans can go beyond what's input to the program to who is actually managing the funds. We can look beyond its "listed management team" changes (NT managers) to see that the subadvisor firms have been fairly stable, allocations have been fairly stable, suggesting that strategy has been stable. No subadvisor changes or reallocations have been made since this "new team" took "the reins."

Watch in about an hour, 9am Central/10am Eastern,

I think that one can quote 10-25% under fair use, less the better.
Paraphrasing the essence of the article is another way, my preferred way. I didn't mean just word replacements for paraphrasing.
I did listen to 2 songs that @msf noted on a famous copyright case. It was more the similarity of tunes, not words. Songs can be copyrighted as text and/or audio/video. I recall hearing both songs in the years past and I remember thinking that they sounded similar - many songs do, and one song often reminds about another song. Some popular religious songs are blatant copies of commercial tunes. One can drive a truck under the shades of improvisations. As Ringo Starr noted that George Harrison was just unlucky that it became a legal case. George Harrison noted that, actually, he was trying to sound like ANOTHER song, not the one for which the copyright lawsuit was filed. I think he didn't want to settle either. His version was MUCH more popular than the other song and I am sure that he could have settled easily with the estate of the other song writer/composure if he wanted to.
Only the copyright holder can complain formally. Others can Flag for the protection of forum/site managers.
Beyond the poster, the hosting site can also get into trouble for copyright violations. So, on a serious copyright violation, the MFO may be contacted first, and then Vanilla. The identity of the anonymous poster may become known only in any legal proceeding.

It belonged to Northern Trust multi-manager funds. These have NT managers allocating $s to external advisors.
NENGX had 5 external subadvisors according to a recent report. ARK was removed as a subadvisor in 2021. The NT managers for the fund were changed in June 2022 and May 2023. In M* analyst report (computer-generated?), it is mentioned that fund strategy was also changed in May 2023 without being specific; I couldn't figure that out from the fund literature.
Fund inception was November 2017. There were good inflows in 2017-19, but outflows from 2021-now. Performance was so-so in global-blend category. Current AUM of $176.2 million was probably not much when split among so many external advisors.

That's a false dichotomy.
There are various perspectives including the pragmatic and the principled. Pragmatically, you most likely won't get caught. I take a pragmatic perspective on a daily basis when I jaywalk. I will not be cited. Rudy is no longer mayor of NYC.
Rudy Opens New War on Jaywalkers, NYPost, July 8, 2000.
Then there's the principled perspective. As Yogi described, fair use permits limited copying of material. And California permits (technically decriminalizes) jaywalking in limited situations - when "safe" to do so.
https://www.sacbee.com/news/politics-government/capitol-alert/article266903931.html
Or one can take a more restrained approach. Post nothing, stay within the crosswalks.
Side note: Copyright infringement is not prosecuted as a crime unless it is committed "for purposes of commercial advantage or private financial gain". 17 USC 506(a)(1)(A). That could have pragmatic implications (affecting the likelihood of getting caught). Offered as an observation, not advice.

Rolled over a large maturing 6-mo t-bill into another 6-month one at 5.50%.

I don't know if you could get a response from either pbi or Kroll without [a letter], but Kroll has all the information you would expect already, DOB name address etc
FWIW, from TIAA's FAQ on the data breach:

Can I find out if I am affected without waiting for a letter?
Yes, you can contact the call center, which is being managed by Kroll, at 1-866-373-7560. The call center is open Monday through Friday from 9 a.m. to 6:30 p.m. Eastern time (excluding U.S. holidays).

https://www.tiaa.org/public/land/data-security-faqs
Here's a template of the letter that is sent to people affected by the TIAA breach (fill in name, etc.)
https://www.databreaches.net/teachers-insurance-and-annuity-association-of-america-notifying-2630717-after-pbi-alerts-them-to-moveit-breach/