@Crash, I took your challenge. It seems that pages exist but cannot be found from the main Durable Cap link. The "tech guys" need serious web help. There is also some clickable mumbo-jumbo at the end.
https://www.durablecap.com/team-bios/
His bio at Price also needs updating - it reads like he is still there, but he left 4 years ago! May be Price thought that his Durable Capital stuff will flop & he will return.

Ellenbogen. Durable Capital.
I dare ya to find anything useful on this webpage. Or find anything at all.
https://www.durablecap.com/

@yogibearbull. @rforno.
I'm much obliged for your responses! Ya, SEVN does not need any of my money.
PSTL: (Seeking Alpha, from last May:)
"...At Portfolio Income Solutions we maintain an archive of historical Tax Treatment of REIT Dividends for more than 130 REITs. A look at Postal Realty’s page describes that ~35% of the dividend has been characterized as a Return of Capital (ROC) since its IPO. ROC is not currently taxable as income, so the current year’s tax liability is lower than that of an ordinary dividend. No tax on the ROC is due until the shares are sold. A retiree living on dividend income enjoys a sense of higher current cash flow....
The mention of PSTL as a possible takeover taget was from a Seeking Alpha article I read over this long week-end. Of course, I can't find it, now.

Henry Ellenbogen moved on from PRNHX in 2019 and founded Durable Capital. He was/is a member of Barron's Annual Roundtable that is published every January. Amazingly, Barron's kept him as a Roundtable Member even around his 2019 transition when he left Price to start Durable, and was really without any job for a while until Durable was up and running.

SEVN is a mREIT that has been around for a while (2006- ). It may be showing up on screens for high YTD, but much of that came in early-January. It does have high distributions, as is typical of mREITs (highly leveraged bags of MBS). Otherwise, it has been a disaster as much of the distribution is from capital (eroding NAV). Potential swings are from rate speculations. It's VERY RISKY.
PSTL is an office REIT focusing on postal properties. It has genuine rental income and potential property appreciation. So, it is quite different from SEVN.
I searched the web for rumors on SEVN and PSTL, but I found only the OP article on that, nothing else. Are you starting those rumors? (-:)

FUNDS. Another piece on high yearend CG distributions. (This piece by Lauren Foster seems to be based on a longer piece by @LewisBraham in the Guide to Wealth supplement, see below)
INCOME from EM dividend-stocks – CEMDX / CEMIX with holdings in Brazil, China, Greece, Mexico.
RETIREMENT. The good news is that Americans have $39 trillion in RETIREMENT ACCOUNTS. But the bad news is that only 54.3% have defined-contribution (DC) retirement accounts, 13% have traditional defined-benefit (DB) pensions, and accounting for overlaps, that leaves lots of Americans without ANY retirement funds beyond Social Security (1935- ). The average balance in DC accounts is only $86K. In the very old days, people worked until they died. Pensions were a creation of Industrial Revolution to make room for younger employees by luring older workers to “retire”, and the first retirement fund was by American Express in 1875. It didn’t catch on right away, and then the Great Depression came (1930s), and the SSA was created. Employees liked old pensions, but employers saw them as growing liabilities. According to the father of 401k, Ted BENNA, 401k was by accident from the short 869-word section (subtitled 401k) in the 1978 revenue Act that allowed pretax employer and employee contributions for retirements (unclear who slipped that in). Companies caught on to this quickly, and by 1983, there were already 7.1 million 401k accounts, now 60 million accounts. The great shift from old pensions to 401k/403b also started. But 401k/403b aren’t perfect, and while auto-signups and auto-escalations have helped, that hasn’t been enough (especially for lower-income and self-employed groups and small businesses). (By Kenneth Pringle who has authored some great historical pieces)
Supplement, GUIDE TO WEALTH.
Yearend tips for portfolios: Max 401k/403b, make IRA contributions and/or Roth conversions, payoff high-rate debt, deploy some tech profits into bonds, rebalance if far from targets, consider alternatives, keep cash in higher-rate money-market funds. Some stock and bond ideas are also included.
Several high 2023 yearend mutual fund distributions are mentioned: IYVAX, KLCKX, FMXKX, CREEX, DHSCX, JPDEX (tax-aware!), BTIIX (SP500!). Heavy outflows and/or manager change are reasons. The ETFs avoid this problem due to their tax-efficient design. There are also direct-indexed accounts that can do TLH; some of these accept mutual funds (in-kind) that they can slowly adjust with TLH. Mutual fund holders with huge CG distributions may also sell them ahead if their unrealized gains are not large. For individuals, excess TLH net losses beyond $3K/yr offset of ordinary income can be carried over to future years. Tax issues don’t matter in tax-deferred/free accounts. Charitably inclined may contribute highly appreciated securities to DAFs or directly to charities (but one has to itemize to claim charitable deductions). (By @LewisBraham at MFO)
Top yearend ideas from 5 financial pros:
Cheryl HOLLAND/Abacus: Family talks about finances around holidays.
Patrick FRUZZETI/Rose-Hightower: TLH, QCDs, CRTs from IRAs, DAFs.
Matthew SPRADLIN/Godfrey & Spradlin-Steward Partners: 529s – split w/spouse to max state tax benefits; use 5-yr forward for 5x annual contributions (but cannot contribute more for 5 years), individual 401k for proprietors.
Indrika ARNOLD/Colony Group: Gifting with purpose – it’s a good feeling when gift recipients benefit from gifts while you are around.
Mark MUMFORD/Hollow Brook: TLH, gifts.
LINK
Those interested may also check the International Roundtable in Part 1.

Just took a look at a legendary small cap offering from TRP (PRNHX). Recall when it was a stand-out performer (under a manager who later left and struck out on his own) and shut its door to new investors more than a decade ago, leaving many clamoring to get in. (Looks like they’ve reopened it.)
… Up + 57.7% in 2020 / Down - 37% in 2022. I have to ask - Who in their right mind would want to own something like that? ISTM you’d have to have ice in your veins. FWIW - M*’s analysts award it a “silver” rating, their second highest.
Suppose funds like that are great for speculating. But a difficult long term hold. Brings to mind @Mark’s recent quip about being left without a chair when the music stops.

From the Capital Group summary page for CGDV:

Summary
"Value" refined. Seeks to produce consistent income that exceeds the average yield of the S&P 500 by focusing on companies that pay dividends or have the potential to pay dividends.

Fund Objective
The fund's investment objectives are to produce income exceeding the average yield on U.S. stocks generally and to provide an opportunity for growth of principal consistent with sound common stock investing.

Distinguishing Characteristics
Invests primarily in dividend-paying stocks of larger established U.S. companies.

Risk/reward is relative to time. Depends on your goals of course, but if you aren't timing the markets, this fund has, and I think will continue over time to have a better risk/reward return than cash at 5.3% - and dropping.

@hank: it may be too early to judge whether the ETF will outperform. In the case of Capital Group, the marketing materials discourage comparison with the OEFs, pointing out that the teams of managers are not the same and that the ETF is a new vehicle and is not intended to replicate an existing MF. I looked at the respective managers of CGGR and CGDV and discovered that each of the four have other MF assignments, but not necessarily in the same niche. In other words, the team members for CGGR, the growth vehicle, don’t work only on growth funds. Nor do the team members of CGDV work only on OEF dividend strategies. The teams represent diverse investment approaches and they appear to have many years of experience. From what M* says, each team member manages a slice of the pie, resulting in separate concentrated portfolios. Maybe other fund companies do something similar; in any event, the American/Capital record over the years inspires confidence. It may be a few years before we know how the transparent active fund performs in up and down market cycles compared to other funds structured traditionally.

Anybody care to opine on whether an ETF or conventional mutual fund run by the same company / team is a better long term bet? Of course fees are usually lower for an ETF. That’s a big deal. But a conventional mutual fund has a more stable investor base. Might make it easier to manage, providing more latittude for managers. Also, as an investor in a mutual fund with tighter trading restrictions you may feel more committed and less likely to bail out early forsaking bigger gains. Time is more on your side, so to speak, in a mutual fund.
And than I wonder if the institution administering the funds really applies the same level of resources to operating an ETF that might well be pulling in only half the fees that their longer running mutual funds do? Perhaps there are some good comparisons now that ETFs have been around a while, Some 5 / 10 year returns of “companion” mutual funds and ETFs? Indexing is one thing. I’d expect passively managed funds to have similar outcomes. It’s the actively managed ETFs vs mutual funds I’m wondering more about.

Previous discussions here have touched on the six Capital Group actively-managed ETFs, particularly CGGR, CGGO, and CGDV. As of late September, there are now fourteen, covering several asset classes. My reading of the presentation in the link below suggests that the target audience is financial advisors as opposed to individual investors. There’s a new global balanced fund, some FI, and what seems to me to be a fair amount of overlap in the equity lineup. I tried to discern the main difference between CGXU (old) and CGIE (new), funds which both fall in the international growth category. The latter might be less aggressive, as it limits ER exposure. The two dividend funds, CGDV (old) and CGDG (new) hardly differ, although the new one might be a little tamer. It’s nice to have choices among active ETFs, even if they add to proliferation. To compensate, American Funds might do something about all the ridiculous OEF share classes they sell.
https://www.capitalgroup.com/advisor/investments/exchange-traded-funds/resources/meet-the-suite.html

Feeling bearish after hearing that "Cramer broadly agrees with Bank of America’s bullish analysis, says next year could bring gains for the S&P 500".
Will only add to CBLDX for now. Equities have already rebounded nicely.

https://www.sec.gov/Archives/edgar/data/889284/000139834423020930/fp0086050-1_497.htm
497 1 fp0086050-1_497.htm
Filed pursuant to 497(e)
File Nos. 033-49098 and 811-06719
STERLING CAPITAL FUNDS
SUPPLEMENT DATED NOVEMBER 21, 2023
TO THE CLASS A, CLASS C, AND INSTITUTIONAL SHARES SUMMARY PROSPECTUS, THE CLASS A AND CLASS C SHARES PROSPECTUS, THE INSTITUTIONAL AND CLASS R6 SHARES PROSPECTUS, AND THE STATEMENT OF ADDITIONAL INFORMATION,
EACH DATED FEBRUARY 1, 2023, AS SUPPLEMENTED
This Supplement provides the following amended and supplemental information and supersedes any information to the contrary in the Class A, Class C, and Institutional Shares Summary Prospectus, the Class A and Class C Shares Prospectus, the Institutional and Class R6 Shares Prospectus (collectively, the “Prospectuses”), and the Statement of Additional Information (“SAI”) each dated February 1, 2023, with respect to Sterling Capital SMID Opportunities Fund:
Sterling Capital SMID Opportunities Fund
The Board of Trustees of Sterling Capital Funds has given approval to a proposal by Sterling Capital Management LLC (“Sterling Capital”), the investment adviser to Sterling Capital SMID Opportunities Fund (the “Acquired Fund”), to effect the merger of the Acquired Fund into the Sterling Capital Mid Value Fund (“Acquiring Fund”) (the “Merger”) on or about January 26, 2023 (the “Merger Date”).
The Merger is expected to be a tax-free reorganization for federal income tax purposes. On the Merger Date, any investment in the Acquired Fund will, in effect, be exchanged for an investment with an equal aggregate net asset value in the Acquiring Fund. Therefore, as a result of the Merger, shareholders of the Acquired Fund will become shareholders of the Acquiring Fund. Acquired Fund shareholders will not pay any sales charges, purchase premiums, or redemption fees as a result of the Merger. Prior to the consummation of the Merger, the Acquired Fund expects to reposition certain of its portfolio holdings and expects that it will dispose of approximately 50% of its investments and invest the proceeds of such dispositions in securities currently held by the Acquiring Fund, or in other securities, cash and/or cash equivalents. Accordingly, the Acquired Fund may no longer be implementing its investment strategy in the time period leading up to the Merger. The Acquired Fund will incur transaction costs in connection with this repositioning, and the repositioning is expected to result in the recognition of net capital gains and the distribution of net capital gains to Acquired Fund shareholders. These distributions would be taxable to shareholders. You can find information about the Acquiring Fund and its investment policies and risks, including a prospectus, summary prospectus and Statement of Additional Information, online at sterlingcapital.com/investments/mutual-funds/. You can also get this information at no cost by emailing a request to fundinfo@sterling-capital.com, by calling 1-800-228-1872 or by asking your financial representative.
Acquired Fund shareholders will receive shares of the Acquiring Fund’s corresponding share class as part of the Merger. Each Fund’s Class C Shares are subject to a Contingent Deferred Sales Charge (CDSC) of 1.00% on such shares held for less than two years. Each Fund’s Class A Shares purchased in the amount of $1 million or more for which a front-end sales load waiver was received at the time of purchase also are subject to a CDSC of 1.00% on such shares held for less than two years. Class A Shares and Class C Shares received as a result of the Merger will continue to be subject to the CDSC schedule of the shares of the Acquired Fund you originally purchased.
Shareholder approval of the Merger is not required. At any time before the close of the Merger, you may redeem your shares as described in the Prospectuses. Such redemptions may be taxable transactions.
SHAREHOLDERS SHOULD RETAIN THIS SUPPLEMENT
WITH THE PROSPECTUSES AND STATEMENT OF ADDITIONAL INFORMATION FOR FUTURE REFERENCE.
-1-
STAT-SUP-1123

...will be liquidated.
https://www.sec.gov/Archives/edgar/data/1618627/000139834423020960/fp0086061-1_497.htm
THE RBB FUND TRUST
The Energy & Minerals Group EV, Solar & Battery Materials (Lithium, Nickel, Copper, Cobalt)
Futures Strategy ETF (the “Fund”)
(NYSE Arca, Inc.: CHRG)
November 21, 2023
Supplement to the Prospectus and Statement of Additional Information, each dated December 31, 2022,
as supplemented (the “Registration Statement”)
The Board of Trustees (the “Board”) of The RBB Fund Trust (the “Trust”), based upon a recommendation from The Energy & Minerals Group Advisors, LLC, the investment adviser to the Fund, has determined to close and liquidate the Fund. The Board concluded that it would be in the best interest of the Fund and its shareholders that the Fund be closed and liquidated as a series of the Trust effective as of the close of business on or about December 15, 2023 (the “Liquidation Date”). Accordingly, the Board approved a Plan of Liquidation and Termination (the “Plan”) that sets forth the manner in which the Fund will be liquidated. The Liquidation Date may be changed without notice at the discretion of the Trust’s officers. Shares of the Fund are listed on the NYSE Arca, Inc. (the “Exchange”).
Effective as of December 11, 2023, the Fund will cease following its investment objective and begin liquidating its portfolio assets. This will cause the Fund to increase its cash holdings and deviate from the policies and strategies stated in the Fund’s Registration Statement. The Fund is anticipated to be invested almost exclusively in cash and other liquid assets by December 13, 2023.
The Fund will no longer accept orders for new creation units after the close of business on December 11, 2023, and trading in shares of the Fund will be halted on the Exchange prior to market open on December 15, 2023. Until market close on December 14, 2023, the Fund’s shareholders may sell their shares of the Fund on the Exchange and may incur the usual and customary brokerage commissions associated with the sale of Fund shares. During the time between market close on December 14, 2022 and the Liquidation Date, the Fund’s shareholders may only be able to sell their Fund shares to certain broker-dealers, and there is no assurance that there will be a market for the Fund’s shares during that time period. Customary brokerage charges may apply to such transactions.
Pursuant to the Plan, as soon as practicable after the Liquidation Date, the Fund will distribute pro rata to all remaining shareholders of record as of the close of business on the Liquidation Date (“Shareholders”), all of the remaining assets of the Fund in complete cancellation and redemption of all of the outstanding shares of the Fund (“Liquidation Distributions”). These Liquidation Distributions are taxable events. Shareholders should contact their tax advisor to discuss the income tax consequences. In addition, these Liquidation Distributions to Shareholders will include accrued capital gains and dividends, if any. As calculated on the Liquidation Date, the Fund’s net asset value will reflect the costs of closing and liquidating the Fund, if any. Once the Liquidation Distributions are complete, the Fund will terminate. Proceeds from the Liquidation Distributions will be sent to Shareholders promptly after the Liquidation Date.
Please retain this Supplement for future reference.

Conestoga Mutual Funds
Conestoga Funds Distributions:
At this time, we are expecting a long-term capital gains distribution in the Conestoga Small Cap Fund of $0.615220/share, payable to shareholders with a record date of December 1, 2023, with a payable/ex-dividend date of December 4, 2023. Currently, we are not expecting to have capital gains distributions in the Conestoga SMid Cap, Micro Cap, or Mid Cap Funds.
For complete information, go to https://www.conestogafunds.com/mutual-funds

I increased auto deductible to reduce premium at the last big increase.

What kills me is that when you (perhaps) choose to even double your deductible, the cost savings on the premium you pay to be insured is never commensurate. What a racket.
We took a Liberty Mutual policy after buying our new car here on the island in early 2020. Still just 36,000 miles on it. But every year, we've been paying a little MORE, to drive around an OLDER car. Legalized extortion.

and buying insurance companies (and their retail deposits) on the other side to get equity capital and debt capital respectively. But I still have doubt on 20% returns. Even Buffett cannot do it.

That's unsettling.

Really divided on this. I am more confident these managers can tell the story to fund investors and stock investors than generate 20% returns going forward. Rates are high, leverage is difficult, and though they will find occasional elephants, everyone knows the tricks. Yet, they have done a fantastic job convincing pension funds on one side and buying insurance companies (and their retail deposits) on the other side to get equity capital and debt capital respectively. But I still have doubt on 20% returns. Even Buffett cannot do it.

@WABAC, I am not quite following your thinking regarding your sale of PRBLX. As relates to a 500 index fund, PRBLX has 34% in the M* LCG style box compared to 40% for a VFINX. PRBLX also has a slightly lower beta and SD. Are you also saying that a 500 index fund has become too growthy and volatile for you?

Hi @Mona. I have never owned the 500.
I wouldn't ban PRBLX from my taxable account, which I hope to leave to the kids. But right now it's just another fund over-weight in tech and financials with an 82 cent ER. And I think they have drifted away from:

The investment seeks to achieve both capital appreciation and current income. The fund's objective is to achieve both capital appreciation and current income

That's M*'s description. The dividend is now about half the 500 last time I checked. Maybe PBRLX has updated the prospectus.
A little later today I will be putting the proceeds from that sale into DGRW. It's about the lowest volatility fund (SD and Beta) I could find that stands a chance of outperforming PRWCX. It also stands up well to VDIGX. But I'll probably do one more screen with MFO premium.

I think https://www.morningstar.com/funds/which-popular-funds-will-hit-investors-with-big-capital-gains-distributions-this-year?utm_medium=referral&utm_campaign=linkshare&utm_source=link this article from M* is a bit premature published Oct 26 missing Vanguard and it's 6 funds over 5%, and anyone else published after that point.
Many thanks to TheShadow for putting this together and maintaining it every year. The best investment tools on the interwebz is knowledge like this.