Here's a statement of the obvious: The opinions expressed here are those of the participants, not those of the Mutual Fund Observer. We cannot vouch for the accuracy or appropriateness of any of it, though we do encourage civility and good humor.
"Spillback distributions are taxable to investors who hold shares on the record date, even though they represent ordinary income and/or capital gains earned by the funds in 2014."
Don't know how you want to handle it on last year's record book, or if you even want to be bothered; just thought I'd point it out. Don't see that very often, never happened to me.
I noticed the spillback information prior to the CG information being posted. I am glad I don't have to deal with the accounting for that.
Years ago I held Fairholme. After I filed my taxes, months later, I received an amended tax 1099 from Fairholme. I had to filed an amended tax form. Was not too happy about that.
"The Medtronic acquisition of Covidien earlier in the year created a taxable event for all Medtronic shareholders, including the Mairs & Power Balanced [& Growth] Fund. "
"On November 16, 2015, Sequoia Fund, Inc. made a long term capital gains distribution to shareholders of record on November 13, 2015. The distribution amount was $7.98 per share. "
Osterweis Funds estimates are out and have been posted to my small list above. For those so invested, you might check it out. Looks like the stock fund may have done some "Valeant trimming."
Just got a note from Fairholme to indicate distribution estimates are available at the link below:
www.fairholmefunds.com/press-releases/
With distributions for FAIRX at a range of $11.55-$12.35 per share, I will be saying goodbye to Bruce within my taxable account. Looks to be 34% + if my math is correct.
According to Fairholme PDF, the payout was due to:
"... We are pleased that our investment in AIG generated over $2 billion in gains for shareholders and are optimistic for similar outcomes in the current portfolio holdings based on our estimates of their potential full value..."
Turner Emerging Growth will have another large payout year again with at least $13 for this year besides the $26+ payout from last year. I plan to sell it prior to record date and buy back in after payout since I will have a smaller gain on sale than than I would with another large CG payout. Since there is no loss being recognized, it is not an issue.
Shadow...yes, I am quite sure Bruce is happy as a clam that AIG generated significant gains. He failed to mention why those gains needed to be harvested however. This points out a clear risk for a hyper-concentrated fund which is unable to balance gains with losses to cover liquidations.
I'm thinking your comment was tongue in cheek though.
My thinking is more like yours (except it sounds like you are exiting Fairholme permanently where I am not exiting TMCGX permanently) in that I will also sell my TMCGX; however, I can go back and buy TMCGX again since Turner permits four "round trips" in a calendar year.
Exiting in taxable, keeping the holding in my IRA. I would say the taxable is permanent, as I need to de-risk a bit. While I'm still buying green bananas, my focus isn't sufficiently long term to take a double dose of FAIRX.
Lazard has a nice presentation of distributions, with dollar amounts and percentages of NAV all in columns. No need to figure the percentage. I don't see my other MF companies offering this service.
@Valet I've updated the Aston Funds link. You might want to check it out. Some of the largest estimated CGs exposures have come down. e.g. the worst--- M&C Growth--- has dropped from 30% to circa 20%.
RiverNorth has posted their estimates for yr-end distributions. I would post a link to their tabulation, except there isn't a link to post. For each and every one of their funds, you need to go to each fund's information page, then jump to the Distribution section, where you will find the estimate for that fund only.
The fund is in the process of reorganizing into the American Beacon family to be effected Friday. No distribution amounts yet -- only this -- and I'll try to update:
The dividend and distribution information will be available on our website, www.americanbeaconfunds.com, on December 22nd. The dates will be as follows:
Record Date December 21, 2015 Ex/Reinvest Date December 22, 2015 Payable Date December 23, 2015
Comments
laurenduvall: What can someone suggest as a hedge for Longleaf Partners Fund?
The best hedge is a sale.
Thanks for the information! I updated the prior link.
http://www.jamesfunds.com/our-funds-distributions.php
Janus Funds:
https://17eb94422c7de298ec1b-8601c126654e9663374c173ae837a562.ssl.cf1.rackcdn.com/Documents/retail/planning page documents/Supplemental Tax and Distribution Information/2015/Janus Funds Preliminary Distribution Estimates 2015.pdf
JP Morgan:
https://www.jpmorganfunds.com/blobcontent/547/655/1323436047000_2015-JPM-Funds-Capital-Gains.pdf
Keeley Funds:
http://www.keeleyfunds.com/funds/distributionsummary.php
Kinetics Funds:
http://kineticsfunds.com/wp-content/uploads/2015/11/KMF-2015-distributions_est.pdf
Kopernik Global Fund:
http://kopernikglobal.com/sites/default/files/KGI CG MEMO 930 2015.pdf
Leuthold Weeden Funds:
http://lwcm.com/sites/lwcm.com/files/Nov_2015_Cap_Gains_Estimates-1.pdf
Liberty Street Funds:
http://www.libertystreetfunds.com/sites/default/files/docs/Dividend & Distribution Info - Liberty Street Funds_2.pdf
Litman Gregory Masters Select Funds:
http://www.mastersfunds.com/distribution-estimates
LKCM Funds:
http://www.lkcmfunds.com/media/pdfs/LKCM_Distribution_Estimates.pdf
LMCG Funds:
http://www.lmcgfunds.com/wp-content/uploads/2015/10/Distribution-Letter_Oct-2015.pdf
Longleaf Partners:
http://longleafpartners.com/sites/default/files/categories/Documents/Longleaf-Partners-Funds-Capital-Gain-Distribution-Estimate-2015.pdf
Loomis Sayles Funds:
http://www.loomissayles.com/internet/internet.nsf/content?readform&ctype=capitalgains&channel=mf
Lord Abbett Funds:
https://www.lordabbett.com/en/resources/tax-center/capital-gain-distribution.html#la_Estimated_Capital_Gains
Lyrical Value Funds:
http://lyricalvaluefunds.com/wp-content/uploads/2014/10/2015_Distribution_Estimate.pdf
Madison Funds:
http://madisonfunds.com/individual/tax-info
MainStay Investments:
http://www.nylinvestments.com/polos/MSSR06-10-1556540.pdf
Manning & Napier:
https://www.manning-napier.com/Portals/0/FundsDocs/distributions/2015-year-end-distribution-estimates.pdf
Marsico Funds:
http://www.marsicofunds.com/funds/content/distributions.fs
Matthews Asia Funds:
http://matthewsasia.com/investor-resources/fund-distributions.fs
Meeder Investment:
http://www.meederinvestment.com/Resources/Doc/Meeder Funds 2015 Capital Gains Distribution Estimates.pdf
Meridian Funds:
http://meridianfund.com/literature/tax-information/
Metropolitan West Funds:
https://www.mwamllc.com/documents/MWFunds_DistributionEstimates-1115.pdf
Mirae Asset Discovery Funds:
http://investments.miraeasset.us/files/4114/4562/4737/2015_Estimated_Capital_Gains_Distributions.pdf
Muhlenkamp Fund
http://muhlx.muhlenkamp.com/distributions/
Natixis Funds:
http://ngam.natixis.com/us/investor/1250204324790/Year-End+Distribution+Estimates+for+2015
Northern Funds:
https://www.northerntrust.com/documents/white-papers/mutual-funds/individual/2015-preliminary-estimated-capital-gains.pdf?bc=24089026
Nuveen Funds:
http://www.nuveen.com/Home/Documents/Viewer.aspx?fileId=49964
Oak Associates:
http://www.oakfunds.com/OakLibrary/Distributions2015.aspx
Oakmark Funds:
http://www.oakmark.com/News/News-and-Insights-Placeholder/2015-Fund-Distribution-Estimates.htm
Oberweis Funds:
http://oberweisfunds.com/wp-content/uploads/2015/11/2015CapitalGains.pdf
Oppenheimer Funds:
https://www.oppenheimerfunds.com/advisors/doc/2015_Capital_Gains_Estimates.pdf?dig_asset_metrics=done&cb=42653008356
Optimum Funds/Delaware Investment:
https://delinvest.fgsfulfillment.com/download.aspx?sku=CGE-OPT
Pacific Life Mutual Funds:
http://www.mutualfunds.pacificlife.com/public/performance/perf_updates/2015/w30027.pdf
Palmer Square Fund:
http://www.palmersquarefunds.com/uploads/2015 Estimated Capital Gains Distribution.pdf
Payden Funds:
http://www.payden.com/mutualFunds/distribution/2015CapGains.pdf
Pear Tree Funds:
http://www.peartreefunds.com/sites/default/files/2015 Distribution Estimates.pdf
Perritt Capital:
http://www.perrittcap.com/news-events/events/
Pinnacle Value Fund:
http://www.pinnaclevaluefund.com/historicalresults.asp
Poplar Forest Funds:
http://www.poplarforestfunds.com/pdfs/2015_PFCapGains.pdf
Primecap Odyssey Funds:
http://www.primecapmanagement.com/prices_and_performance/distribution_information.html
Principal Funds:
https://secure02.principal.com/publicvsupply/GetFile?fm=MM3682&ty=VOP&EXT=.VOP
Prudential Funds:
https://www3.prudential.com/email/pi/a/capgains2015.pdf
Quaker Funds:
http://www.quakerfunds.com/performance/tax/2015distributions
Rainier Funds:
http://rainierfunds.com/Documents/2015 Distribution Estimate.pdf
Ridgeworth Funds:
https://www.ridgeworth.com/includes/files/assets/files/1446127496_2015-YearEndCapitalGainsEST.pdf
Riverpark Funds:
http://www.riverparkfunds.com/downloads/News/2015_EstimatedDistributionInfo.pdf
Roosevelt Fund:
http://www.rooseveltmcf.com/files/documents/2015-513B-RooseveltEst.Distributions.pdf
Royce Funds:
https://www.roycefunds.com/news/2015/10/open-end-funds-2015-year-end-distributions
RS Investments:
http://www.rsinvestments.com/wps/RSContent/Render?content_id=268e4044-807c-48d4-8a73-5caf92294b91&channelname=financialadvisors
Salient Partners:
http://www.salientpartners.com/static/pdfs/rpf/Salient 2015 Preliminary Capital Gain Distribution Information.pdf
Schroders Funds:
http://www.schroders.com/en/SysGlobalAssets/staticfiles/schroders/sites/americas/schroderfunds/documents/2015-year-end-distribution-information.pdf
Schwab Funds:
http://ims.schwab.wallst.com/repository/?doc=2008DistAct
Scout Investments:
http://scoutinv.com/resources/documents/literature/taxinfo/2015YearendDistributionEstimatesMemo.pdf
Seafarer Funds:
http://www.seafarerfunds.com/fund/distributions
Selected Funds:
http://selectedfunds.com/document/read/2015_estimated_year_end_capital_gains_distributions
Sentinel Funds:
https://www.sentinelinvestments.com/pdf/capgainsdist-est2015.pdf
Sit Funds:
http://www.sitfunds.com/services/2015distribution-estimates.php
Smead Value Fund:
http://smeadcap.com/files/9914/4683/5862/2015_Dividend_Distribution_Estimates.pdf
Sound Shore Fund:
http://www.soundshorefund.com/cap_gains.asp
Sterling Capital Funds:
http://www.sterlingcapitalfunds.com/wp-content/uploads/2015/11/Estimated-Capital-Gains-2015.pdf
http://www.sterlingcapitalfunds.com/wp-content/uploads/2015/11/Estimated-Capital-Gains-2015-Stratton-Funds-v1.pdf (Stratton Funds)
SunAmerica Funds:
https://www.safunds.com/pdf/capital-gains-estimates-as-of-9-30-15-with-nav.aspx
TCW Funds:
https://www.tcw.com/~/media/Downloads/TCW_Funds/Distribution_and_Tax_Information/FUNDsb.ashx
T Rowe Price (financial intermediary link; individual link is below...figures look similar)
https://www4.troweprice.com/tpw/ivp/public/fiTaxInformationPage.do
Third Avenue Funds:
http://thirdave.com/top-news/2015-estimated-income-capital-gain-distributions/
Thornburg Funds:
http://www.thornburg.com/products-performance/mutual-funds/dividends-capital-gains/
Thrivent Funds:
https://www.thrivent.com/tax-resource-center/files/28341.pdf
TIAA-CREF Funds:
https://www.tiaa-cref.org/public/tcfpi/InvestResearch?shareclass=retail class&view=distributions&subview=projectedview
Tocqueville Funds:
http://www.tocqueville.com/sites/default/files/Distributions_2015_prelim_2015-10-09.pdf
Touchstone Funds:
https://www.touchstoneinvestments.com/documents/pdf/TSF618.pdf
Transamerica Funds:
https://www.transamerica.com/images/capital-gain-distributions_tcm73-37718.pdf
Turner Investments: (TMCGX another large payout)
http://www.turnerinvestments.com/tax-information/
USAA Funds:
http://www.advisorusaa.com/~/media/Files/U/USAA-RWD/documents/forms/pronotification-letter041115.pdf or
https://content.usaa.com/mcontent/static_assets/Media/MutualFundDist_PreNotification.pdf?cacheid=3881185387_p
Victory Funds:
http://www.vcm.com/docs/default-source/Victory-Fund-Forms-and-Documents/2015-estimated-capital-gains.pdf?sfvrsn=2
Virtus Investment Partners:
https://www.virtus.com/vsitemanager/Upload/Docs/7065_capgainsestimate.pdf
Vulcan Value Partners:
http://www.vulcanvaluepartners.com/wp-content/uploads/2015/10/MF-Estimated-Cap-Gains-2015.pdf
Waddell & Reed Funds:
http://fulfillment.dstweb.com/showpdf-sku.cfg?sku=WRCAPGAINS&clientcode=wrf
Walthausen Funds:
http://www.walthausenfunds.com/index.asp
Wasatch Funds:
http://www.wasatchfunds.com/Email/docs/2015_Yr_End_Dist_Est_Mobile_v1w0.pdf
Westchester Capital
http://www.westchestercapitalfunds.com/media/pdfs/2015_Est_Distributions.pdf
Westcore Funds:
http://westcore.com/wp-content/uploads/2015/11/2015-Distribution-Estimates.pdf
Westport Funds:
http://www.westportfunds.com/files/Tax.pdf
Westwood Funds:
http://www.westwoodfunds.com/pdf/2015-estimated-distribution.pdf
William Blair Funds:
https://www.williamblairfunds.com/resources/docs/funds/other/Estimated Distributions 2015 I and N.pdf
Wilmington Funds:
http://www.wilmingtonlit.com/downloads/performance/capitalgains/December_2015_Capital_Gains_Estimates.pdf
Wintergreen Fund:
http://www.wintergreenfund.com/reports/dividends/distribution.php
Van Eck Funds:
http://www.vaneck.com/van-eck-funds-2015-yearend-estimated-distributions-pdf.pdf
Vanguard:
https://personal.vanguard.com/us/insights/article/estimated-yearend-distributions-122015
Blackstone Alternative Investment Funds
http://www.blackstone.com/docs/baif/2015-estimated-distribution-table---mfs.pdf?sfvrsn=2
Calvert Funds
http://www.calvert.com/resources/tax-center/estimated-distributions
City National Rochedale Funds
http://www.citynationalrochdalefunds.com/fundinformation/download/CapGainsDistributions_2015_Equity.pdf
Domini Funds
https://www.domini.com/shareholder-services/tax-center/december-2015-distributions-estimates
Invesco Advisers Inc
http://www.invesco.com/static/us/investors/contentdetail?contentId=9a64a8c235512410VgnVCM100000c2f1bf0aRCRD
Jensen Funds
https://www.jenseninvestment.com/jmf/jensen-funds/forms-documents/distributions/
Morgan Stanley Funds
http://www.morganstanley.com/msamg/msimintl/docs/en_US/publications/forms/Tax/2015_estimated_yr-end_distributions.pdf
Nationwide Funds
http://www.nationwide.com/mutual-funds-distributions.jsp
Parnassus Funds
http://www.parnassus.com/parnassus-mutual-funds/DividendInfo
RBC Funds
https://us.rbcgam.com/resources/docs/mutual-funds/pdf/other/RBC_Cap_Gain_Distribution.pdf
Transamerica Fund Asset Management Inc
https://www.transamerica.com/images/capital-gain-distributions_tcm73-37718.pdf
https://www.fidelity.com/taxes/fidelity-mutual-fund-tax-information/year-end
Baird Funds
http://content.rwbaird.com/BairdFunds/PDF/Estimated-Capital-Gains-10-31-15.pdf
Lazard Funds
http://www.lazardnet.com/_images/23-25741YE_Estimated_Distribution_Rates_LFI.pdf
Payden & Rygel Funds
http://www.payden.com/mutualFunds/distribution/2015CapGains.pdf
PIMCO Funds
https://www.pimco.com/handlers/displaydocument.ashx?wd=Portfolio Statistics&fn=2015 Capital Gain Estimates - PIMS.pdf&id=GZhEoIFgTsGbVM+4E55j/7h95nQXrPeOGFtC2v8TNDr6g2kWEipXL7lZipsANjHSwTQV/ORCa0ytzCBtF1N/nr/9SLhMFwNIElTDTlxzvSkwEvlf1CfeYu6kBJ5wid6cRIDP1l7w8F2V4venFk/bZxpRD+QPIj+64r0qs6uhX843xMh5McTv8HNodoIyehG+RXzElQy4+dMwOiWadKR9suyKtzZMrp83MGxXJ7d/iiAAIFfSkEN+DciFsiR+rBrug4rB6UJSrr/XDOUbisWDWCHnf5a8FMnI7w4lpWQ3mSNBffdTffbn4tjV3G/RheC7
PIMCO EQS Funds
https://www.pimco.com/handlers/displaydocument.ashx?wd=Portfolio Statistics&fn=2015 Capital Gain Estimates - EqS.pdf&id=v8jsax1nRilx0NUcm3XvHx492TgQxsjuu+lz4b7j4R13gqFUjIRNfjri7AfC1bh1uDmTsofWjYzXv5etYkMsH3OyAZ9rZ5pJtDy0RQqq6d12H54xyoDGHFovwRNZFRzvaASLlqWvU5UMo1P8agOMi1qb6HdzggHZj08atsvpTuiwUtf7pWcDq3N0WTyxjtQeeIxBGtT7mLQW+QIjXi/Bh7Vgl9xeRs7gIJotehtDjrOESIWNh/2eVHchenER97lS4uh1fWd2hoce55ZRyRTwTp9Rdwq+Igr7KR0+vaZ3QkWoWzzDOgW7n8G6ctezpbO7
Voya Funds Trust
https://investments.voya.com/Investor/Products/Mutual-Funds/Tax-Center/General/2015-Estimated-Capital-Gain-Distributions.htm
Weitz Funds
https://weitzinvestments.com/funds_and_performance/distribution_and_tax_information.fs
Oh dear, scrolling down the est. 2015 distribution list for Baron Funds, at your link here
http://www.baronfunds.com/Mutual-Funds/Distribution-Information-2015/
I see that investors will be getting a little surprise--- a "spillback distribution."
"Spillback distributions are taxable to investors who hold shares on the record date, even though they represent ordinary income and/or capital gains earned by the funds in 2014."
Don't know how you want to handle it on last year's record book, or if you even want to be bothered; just thought I'd point it out. Don't see that very often, never happened to me.
I noticed the spillback information prior to the CG information being posted. I am glad I don't have to deal with the accounting for that.
Years ago I held Fairholme. After I filed my taxes, months later, I received an amended tax 1099 from Fairholme. I had to filed an amended tax form. Was not too happy about that.
http://www.tfscapital.com/wp-content/uploads/2015_Distribution_Estimate-11.11.15.pdf
http://www.mairsandpower.com/news-and-updates/208-2015-capital-gains-and-dividends
"The Medtronic acquisition of Covidien earlier in the year created a taxable event for all Medtronic shareholders, including the Mairs & Power Balanced [& Growth] Fund. "
http://www.sequoiafund.com/si-dividends-capital-gain.htm
"On November 16, 2015, Sequoia Fund, Inc. made a long term capital gains distribution to shareholders of record on November 13, 2015. The distribution amount was $7.98 per share. "
http://aquinasfunds.com/media/pdfs/LKCM_Distribution_Estimates.pdf
Nothing posted yet for Driehaus:
http://www.driehaus.com/Fund-Distributions.php
www.fairholmefunds.com/press-releases/
With distributions for FAIRX at a range of $11.55-$12.35 per share, I will be saying goodbye to Bruce within my taxable account. Looks to be 34% + if my math is correct.
press
"... We are pleased that our investment in AIG generated over $2 billion in gains for shareholders and are optimistic for similar outcomes in the current portfolio holdings based on our estimates of their potential full value..."
Turner Emerging Growth will have another large payout year again with at least $13 for this year besides the $26+ payout from last year. I plan to sell it prior to record date and buy back in after payout since I will have a smaller gain on sale than than I would with another large CG payout. Since there is no loss being recognized, it is not an issue.
I'm thinking your comment was tongue in cheek though.
press
My thinking is more like yours (except it sounds like you are exiting Fairholme permanently where I am not exiting TMCGX permanently) in that I will also sell my TMCGX; however, I can go back and buy TMCGX again since Turner permits four "round trips" in a calendar year.
http://www.lazardnet.com/_images/23-25741YE_Estimated_Distribution_Rates_LFI.pdf
http://www.driehaus.com/Fund-Distributions.php
http://www.brandes.com/docs/default-source/mutual-fund/handouts/brandes-capital-gains-and-income-estimates
RiverNorth Funds:look for fund symbols in link
http://www.rivernorth.com/mutual-funds/rncix-rncox#distributions
http://www.rivernorth.com/mutual-funds/rnsix-rndlx#distributions
http://www.rivernorth.com/mutual-funds/rndix-rneox#distributions
http://www.rivernorth.com/mutual-funds/rnhix-rnotx#distributions
Updated Aston Asset Funds:
https://astonfunds.com/includes/modules/assets/controllers/Files/download.php?file=1449246275_astonfunds-estimated-capital-gains-103115-update (002).pdf&r=/
The fund is in the process of reorganizing into the American Beacon family to be effected Friday. No distribution amounts yet -- only this -- and I'll try to update:
The dividend and distribution information will be available on our website, www.americanbeaconfunds.com, on December 22nd. The dates will be as follows:
Record Date December 21, 2015
Ex/Reinvest Date December 22, 2015
Payable Date December 23, 2015