This 10-1 share split means that every one share of Clipper Fund was converted into ten shares of Clipper Fund.
While the number of shares owned increased after a share split, the split itself did not change your investment value as the net asset value per share is 1/10th of the prior net asset value per share.
There are no tax consequences to you as a result of this change.
The share split did not impact any Clipper Fund identifiers (i.e. ticker, CUSIP).
Listed below for the Clipper Fund are the ticker, CUSIP, share split ratio, record date, and effective date.
| Fund | CUSIP | Ticker | Split ratio (new to old) |
Record Date | Effective Date |
|---|---|---|---|---|---|
| Clipper Fund | 188850101 | CFIMX | 10:1 | May 9, 2025 | May 12, 2025 |
The share split applied to all shareholders of record on the close of business on May 9, 2025.
Below is an example of how a 10:1 share split works using the actual May 9, 2025 NAV.
| Example | Share Price | Number of Shares | Total Value |
|---|---|---|---|
| Before 10-for-1 split | $139.46 | 100 | $13,946 |
| After 10-for-1 split | $13.946 | 1,000 | $13,946 |
See IRS Tax Form 8937 – For Informational Purposes Only
For questions, please contact Clipper Funds’ Investor Services department at 1-800-432-2504.
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