Source Capital Closed Fund (SOR) - Net Assets
Based on the latest financial reports, Source Capital Closed Fund (SOR) has net assets worth $397.28 Million USD as of December 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($402.58 Million) and total liabilities ($5.30 Million). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. Also explore SOR current and non-current assets for the complete picture of this company's asset base.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $397.28 Million |
| % of Total Assets | 98.68% |
| Annual Growth Rate | 0.31% |
| 5-Year Change | 3.78% |
| 10-Year Change | 11.77% |
| Growth Volatility | 17.64 |
Source Capital Closed Fund - Net Assets Trend (1995–2025)
This chart illustrates how Source Capital Closed Fund's net assets have evolved over time, based on quarterly financial data. Check SOR tangible net assets ratio to evaluate the tangible quality of the company's equity base.
Annual Net Assets for Source Capital Closed Fund (1995–2025)
The table below shows the annual net assets of Source Capital Closed Fund from 1995 to 2025. For live valuation and market cap data, see Source Capital Closed Fund (SOR) total market value.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | $397.28 Million | +11.30% |
| 2024-12-31 | $356.96 Million | -0.96% |
| 2023-12-31 | $360.41 Million | +7.64% |
| 2022-12-31 | $334.83 Million | -12.53% |
| 2021-12-31 | $382.80 Million | +0.22% |
| 2020-12-31 | $381.95 Million | +1.27% |
| 2019-12-31 | $377.17 Million | +17.18% |
| 2018-12-31 | $321.87 Million | -17.10% |
| 2017-12-31 | $388.26 Million | +9.23% |
| 2016-12-31 | $355.45 Million | -43.80% |
| 2015-12-31 | $632.45 Million | -9.16% |
| 2014-12-31 | $696.24 Million | +8.79% |
| 2013-12-31 | $639.97 Million | +25.22% |
| 2012-12-31 | $511.10 Million | -2.50% |
| 2011-12-31 | $524.20 Million | -9.23% |
| 2010-12-31 | $577.50 Million | +17.83% |
| 2009-12-31 | $490.10 Million | +38.56% |
| 2008-12-31 | $353.70 Million | -42.45% |
| 2007-12-31 | $614.60 Million | +0.67% |
| 2006-12-31 | $610.50 Million | -1.53% |
| 2005-12-31 | $620.00 Million | +6.58% |
| 2004-12-31 | $581.70 Million | +11.59% |
| 2003-12-31 | $521.30 Million | +31.91% |
| 2002-12-31 | $395.20 Million | -20.77% |
| 2001-12-31 | $498.80 Million | +13.99% |
| 2000-12-31 | $437.60 Million | -1.53% |
| 1999-12-31 | $444.40 Million | +6.37% |
| 1998-12-31 | $417.80 Million | -1.81% |
| 1997-12-31 | $425.50 Million | +11.36% |
| 1996-12-31 | $382.10 Million | +5.52% |
| 1995-12-31 | $362.10 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to Source Capital Closed Fund's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have grown by 2797.4% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | $66.64 Million | 16.77% |
| Common Stock | $330.64 Million | 83.23% |
| Other Comprehensive Income | $66.64 Million | 16.77% |
| Total Equity | $397.28 Million | 100.00% |
Source Capital Closed Fund Competitors by Market Cap
The table below lists competitors of Source Capital Closed Fund ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
USI Corp
TW:1304
|
$376.68 Million |
|
Anhui Fengyuan Pharmaceutical Co Ltd
SHE:000153
|
$376.71 Million |
|
Immobiliere Dassault SA
PA:IMDA
|
$376.86 Million |
|
Sky Harbour Group Corporation
NYSE:SKYH
|
$376.88 Million |
|
LAY-OUT Planning Consultants Co. Ltd.
SHE:300989
|
$376.61 Million |
|
Enanta Pharmaceuticals Inc
NASDAQ:ENTA
|
$376.57 Million |
|
Aurora Corp
TW:2373
|
$376.36 Million |
|
Shandong Shanda Oumasoft CO.LTD.
SHE:301185
|
$376.26 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Source Capital Closed Fund's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 356,957,203 to 397,281,527, a change of 40,324,324 (11.3%).
- Net income of 59,508,749 contributed positively to equity growth.
- Other comprehensive income increased equity by 66,639,546.
- Other factors decreased equity by 85,823,971.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $59.51 Million | +14.98% |
| Other Comprehensive Income | $66.64 Million | +16.77% |
| Other Changes | $-85.82 Million | -21.6% |
| Total Change | $- | 11.30% |
Book Value vs Market Value Analysis
This analysis compares Source Capital Closed Fund's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 0.97x
- The company is trading below its book value, potentially indicating the market believes the assets are overvalued on the balance sheet or anticipates future losses.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 1995-12-31 | $50.43 | $46.99 | x |
| 1996-12-31 | $52.85 | $46.99 | x |
| 1997-12-31 | $58.21 | $46.99 | x |
| 1998-12-31 | $55.05 | $46.99 | x |
| 1999-12-31 | $57.71 | $46.99 | x |
| 2000-12-31 | $55.46 | $46.99 | x |
| 2001-12-31 | $62.18 | $46.99 | x |
| 2002-12-31 | $48.55 | $46.99 | x |
| 2003-12-31 | $63.19 | $46.99 | x |
| 2004-12-31 | $70.08 | $46.99 | x |
| 2005-12-31 | $73.20 | $46.99 | x |
| 2006-12-31 | $71.15 | $46.99 | x |
| 2007-12-31 | $70.97 | $46.99 | x |
| 2008-12-31 | $40.84 | $46.99 | x |
| 2009-12-31 | $56.58 | $46.99 | x |
| 2010-12-31 | $66.69 | $46.99 | x |
| 2011-12-31 | $60.53 | $46.99 | x |
| 2012-12-31 | $59.03 | $46.99 | x |
| 2013-12-31 | $73.94 | $46.99 | x |
| 2014-12-31 | $80.44 | $46.99 | x |
| 2015-12-31 | $73.07 | $46.99 | x |
| 2016-12-31 | $41.12 | $46.99 | x |
| 2017-12-31 | $45.19 | $46.99 | x |
| 2018-12-31 | $37.56 | $46.99 | x |
| 2019-12-31 | $44.37 | $46.99 | x |
| 2020-12-31 | $45.35 | $46.99 | x |
| 2021-12-31 | $45.70 | $46.99 | x |
| 2022-12-31 | $40.05 | $46.99 | x |
| 2023-12-31 | $43.68 | $46.99 | x |
| 2024-12-31 | $43.57 | $46.99 | x |
| 2025-12-31 | $48.33 | $46.99 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Source Capital Closed Fund utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 14.98%
- The company shows good efficiency in utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 126.00%
- • Asset Turnover: 0.12x
- • Equity Multiplier: 1.01x
- Recent ROE (14.98%) is below the historical average (17.47%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 1995 | 36.24% | 950.25% | 0.04x | 1.00x | $95.02 Million |
| 1996 | 45.48% | 1361.83% | 0.03x | 1.00x | $135.56 Million |
| 1997 | 47.98% | 1770.69% | 0.03x | 1.00x | $161.61 Million |
| 1998 | 18.71% | 763.93% | 0.02x | 1.00x | $36.37 Million |
| 1999 | 51.42% | 2593.98% | 0.02x | 1.00x | $184.09 Million |
| 2000 | 25.18% | 1183.67% | 0.02x | 1.00x | $66.44 Million |
| 2001 | 46.40% | 2818.51% | 0.02x | 1.00x | $181.53 Million |
| 2002 | -30.19% | -1510.51% | 0.02x | 1.00x | $-158.85 Million |
| 2003 | 65.28% | 4693.79% | 0.01x | 1.00x | $288.17 Million |
| 2004 | 36.02% | 2503.35% | 0.01x | 1.00x | $151.36 Million |
| 2005 | 36.52% | 2676.48% | 0.01x | 1.00x | $164.43 Million |
| 2006 | 12.50% | 860.65% | 0.01x | 1.00x | $15.29 Million |
| 2007 | 16.68% | 1032.23% | 0.02x | 1.00x | $41.04 Million |
| 2008 | -118.50% | -4823.13% | 0.02x | 1.00x | $-454.50 Million |
| 2009 | 67.40% | 5587.82% | 0.01x | 1.00x | $281.24 Million |
| 2010 | 42.56% | 2861.47% | 0.01x | 1.00x | $188.05 Million |
| 2011 | -4.23% | -329.12% | 0.01x | 1.00x | $-74.57 Million |
| 2012 | 34.81% | 2418.07% | 0.01x | 1.00x | $126.85 Million |
| 2013 | 24.19% | 2590.22% | 0.01x | 1.00x | $90.79 Million |
| 2014 | 13.30% | 1419.02% | 0.01x | 1.00x | $22.99 Million |
| 2015 | -4.61% | -491.46% | 0.01x | 1.01x | $-92.41 Million |
| 2016 | 7.84% | 391.35% | 0.02x | 1.01x | $-7.67 Million |
| 2017 | 12.55% | 98.20% | 0.13x | 1.00x | $9.88 Million |
| 2018 | -8.63% | 0.00% | -0.08x | 1.01x | $-59.95 Million |
| 2019 | 17.44% | 98.39% | 0.17x | 1.02x | $28.04 Million |
| 2020 | 5.54% | 94.56% | 0.06x | 1.02x | $-17.03 Million |
| 2021 | 10.84% | 97.93% | 0.11x | 1.02x | $3.20 Million |
| 2022 | -8.09% | 0.00% | -0.08x | 1.01x | $-60.57 Million |
| 2023 | 14.88% | 175.05% | 0.08x | 1.01x | $17.60 Million |
| 2024 | 10.97% | 97.36% | 0.11x | 1.06x | $3.46 Million |
| 2025 | 14.98% | 126.00% | 0.12x | 1.01x | $19.78 Million |
Industry Comparison
This section compares Source Capital Closed Fund's net assets metrics with peer companies in the Asset Management industry.
Industry Context
- Industry: Asset Management
- Average net assets among peers: $1,105,339,023
- Average return on equity (ROE) among peers: 18.09%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Source Capital Closed Fund (SOR) | $397.28 Million | 36.24% | 0.01x | $376.65 Million |
| Acadian Asset Management Inc (AAMI) | $384.40 Million | 74.58% | 2.59x | $1.86 Billion |
| AllianceBernstein Holding L.P. (AB) | $1.16 Billion | 6.78% | 0.01x | $3.37 Billion |
| Associated Capital Group Inc (AC) | $878.25 Million | 1.16% | 0.08x | $78.56 Million |
| Abrdn Emerging Markets Equity Income Fund Inc (AEF) | $160.40 Million | 149.15% | 0.14x | $265.69 Million |
| AgriFORCE Growing Systems Ltd (AGRI) | $8.00 Million | -83.04% | 0.47x | $194.14 Million |
| Alpha Compute Corp (ALP) | $5.74 Million | 8.75% | 0.01x | $4.53 Million |
| Alvarium Tiedemann Holdings Inc. (ALTI) | $17.85 Million | -32.96% | 4.15x | $397.56 Million |
| Affiliated Managers Group Inc (AMG) | $1.85 Billion | 3.21% | 0.83x | $9.37 Billion |
| Ameriprise Financial Inc (AMP) | $5.59 Billion | 37.54% | 23.56x | $40.38 Billion |
| AMTD IDEA Group (AMTD) | $1.00 Billion | 15.72% | 0.06x | $30.17 Million |
About Source Capital Closed Fund
Source Capital, Inc. is a close-ended balanced fund launched and managed by First Pacific Advisors, LLC. The fund invests in the public equity markets of the United States. It seeks to invest in the stocks of companies operating across diversified sectors. The fund primarily invests in value stocks of small to mid cap companies. It employs fundamental analysis with a bottom-up stock selection app… Read more