This 10-1 share split means that every one share of Clipper Fund will be converted into ten shares of Clipper Fund.
While the number of shares owned increases after a share split, the split itself does not change your investment value as the net asset value per share will be 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 will 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 applies 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.
Please note that this is just an example, and not representative of the share price of Clipper Fund, your number of shares, or the value of your investment.
Example | Share Price | Number of Shares | Total Value |
---|---|---|---|
Before 10-for-1 split | $500 | 100 | $50,000 |
After 10-for-1 split | $50 | 1,000 | $50,000 |
For questions, please contact Clipper Funds’ Investor Services department at 1-800-432-2504.