@VintageFreak,
The new name of the funds is listed above in my first post. A registration filing for the new funds is in my second post. The "I" class shares require $1,500 initial investment, the same as FPA Funds.

Hi @litner, Thanks for your question.
Currently, the hybrid income sleeve makes up 26.56% of the portfolio as of May 15th market close.
Generally, the income area of the portfolio carries a neutral weighting of 40%. With the hybrid income sleeve currently at 26.56% of the portfolio and my income sleeve at 12.73% leaves me a little short of the targeted 40% desired weighting for the area as a whole but it is within an acceptable range at 39.29%. Thus, I have been buying in the income sleeve with the portfolio's monthly income generation.
The neutral weighting for the income sleeve is 15% and for the hybrid income sleeve it is 25%. Each of these can carry target weights of + (or -) 5% from their neutral weightings with the area as a whole not being less than 35% nor greater than 45% of the portfolio as a whole. The amount of each fund held can varry based upon the number of members within each sleeve and its desired influence. Some hybrid funds might have no more than a 1% overall portfolio weighting while others might be upwards towards the maxium allowable of 6%.
Currently, hybrid type funds make up 43.23% of my overall portfolio and total eighteen in number. My hybrid income sleeve found in the income area accounts for 26.56% of the portfolio. The other two hybrid sleeves are found in the growth & income area. The domestic hybrid sleeve accounts for 8.89%; and, my global hybrid sleeve accounts for 7.78% of the portfolio.
My reason for a large number of funds, currently around 50, is that this limits fund manager and strategy risk. And, when one fund falters, within its sleeve, then there are the other members that can offer production and can continue to propel the sleeve. Including my two cash mamagement sleeves there are a total of twelve sleeves split among four areas of investmest within my portfolio.
Thanks again for your question. I am hoping that this gives you insight as to how Old_Skeet rolls.

qqq, starting in 2007. that's some drawdown!

OS: when you say a fund makes up, say, 5% of a sleeve, what i'd like to know is how much % of your total portfolio that fund is. possible to include that? i mean, your hybrid income sleeve in total could be but 5% of your portfolio, making any fund within it a tiny % of the total. right?

I get my exposure to preferred's through an oef (PFANX). Currently, PFANX makes up about 5% of my hybrid income sleeve. In addition, I hold FISCX a convertible securities fund along with FRINX which is a real estate income fund in this sleeve as well. And, at times, I've held a commodity stratey fund (PCLAX & PCRAX) within this sleeve which has, at times, been good income generators. I've been thinking with commodity prices now being depressed this might be a good time to establish a position in a commodity strategy fund. The current yield listed by M* for PCRAX is about three percent. I've held them when they were kicking off a yields north of 10%. I generally, limit my exposure to these type of speciality funds to no more than a 5% weighting, for each, within the sleeve. The number of fund members within this sleeve has ranged form a low of nine to a high of twelve. Currently, there are eleven fund members within this sleeve. Should I add a commodity strategy fund then this would make number twelve.

https://www.forbes.com/sites/brettowens/2020/05/14/the-biggest-mistake-a-preferred-income-investor-can-make/#a19e7c556359
The Biggest Mistake A Preferred Income Investor Can Make
Not for individual resale.”
Ever see that label on a box of food, and scratch your head? Like who’s buying this big-mega bag of Chips Ahoy for the purpose of reselling the “individually packaged” helpings of cookies inside?
One of our best holding is pff, it did plummet recently but we are still holding it and may add more later

Hi sir kings53man
Prob..many pundits are saying and singing same themes similar after 2008 crash, feds pumping massive amounts cash into systems to keep it afloat otherwise dows maybe at 10k now

I'm surprised. Only $3.5MM. There is no God.

while paper trading is good for confidence, unless you put actual money you will not learn. Just start with 1 SPY put OTM.
You need your own strategy / scale / objective. One thing I can tell you is do not do 2X, 3X, 5X of your trade. what I mean is, if you have more money to play with do not sell 5 puts of SPY. instead make 5 trades with 1 put. That's the standard "casino" logic. They have limits on their tables because they want you to bet smaller more number times because the more times you play, the better probability THEY have of winning. When you are SELLING a put, you are the casino. You are selling RISK to the other guy who is buying the put from you.
Next is your objective. Few ways to think about it. One obvious way is "can i make more than i'm earning as interest"? another is "can i generate enough cash to pay my monthly utility bills". i trust you get the picture. have a goal in mind and don't be greedy.
Here's a guideline. Disclaimer if you lose money you suck not me. Say SPY is $280. 1.5% of SPY is $4.20. Go OTM and sell a put to collect $4.20. Chill. If you get assigned SPY because it drops at expiry, go out and sell a covered call to get 1.5% of what your cost basis is. Rinse. Repeat. Do with just 1 PUT for maybe 6 months, a year, whatever.
I cannot say this again. Paper trading will only take you so far. To know your "psychology" you need to have real money on the line. Hindsight is always 2020, and this being the year 2020 is absolutely no help at all.

Here are excerpts from a recent article in Barrons. Surprisingly (maybe) many analysis see GE as a decent risk reward play. My figures are crossed for David Giroux decisions since PRWCX is my largest fund holding.

https://www.barrons.com/articles/ge-stock-drops-to-another-new-low-51589490158

I know a lot of people don't have the subscription to read so I added some lines from the article below:
GE Stock Dropped Again. But Here’s What Is Going Right.
The reasons (for stock collapse) are well known . Demand for air travel has been pummeled by Covid-19, which means fewer General Electric (ticker: GE ) jet engines on fewer commercial jets. What’s more, low interest rates and slower economic growth hurt the GE Capital and Power business units.
Most Wall Street analyst actually rate shares the equivalent of Buy, so they must see something in the stock. Here are a few positives about the company, and the stock, for investors to consider.
Larry Culp: ...well respected on Wall Street. Investors don’t have to worry about leadership while they worry about everything else.
The Balance Sheet: “GE’s industrial balance sheet is currently in a net cash position.” GE has done a lot of work on its balance sheet, paying down debt and selling assets.
Aerospace: ...expects the commercial aftermarket to recover “fairly quickly” in 2021. Defense is part of the aerospace industry, too, and GE supplies engines to the military. while relatively small, the company’s defense business is still growing.
Cost Cutting: The cost-cutting started when Culp took over, and more actions are being taken to reduce the size of the aerospace business, preparing it for a smaller future.
Vaccines: A vaccine or cure would solve a lot of problems for humanity, as well as the ones experienced by the commercial aviation industry.
Risk and Reward
Any stock, GE included, is ultimately about balancing risk and reward. The negatives, right now, are apparent, while the positives are less obvious. That is one reason GE stock is stuck. The question for investors now is how will the balance shift in coming months.

I often X-Ray my stuff using their tool. (Premium.) OK, so today is a week-end. That might have something to do with it. But the changes in the numbers are quite significant, in a good way. How do I know if I can trust them? (Well, can we ever be sure, completely?)
The new X-Ray (6:15 p.m. Eastern Time on Friday) has moved my portfolio's P/E from 1.0 to .77 and that's pretty big, in a good way. P/B is .70. ... PROJECTED EPS over the next 5 years has jumped from 1.18 to 1.30. And (current) Yield is 1.44. That last number is up, just a bit. (All of this is compared to the SP500.) I'm sitting wondering how I could be so smart--- because I'm NOT.

https://www.sec.gov/Archives/edgar/data/831114/000139834420010669/fp0053971_497.htm
497 1 fp0053971_497.htm
THE RBB FUND, INC.
Schneider Small Cap Value Fund
(the “Fund”)
_____________________________________________________________________________________
Supplement dated May 15, 2020
to the Prospectus and Statement of Additional Information,
each dated December 31, 2019
_____________________________________________________________________________________
At a meeting held on May 13-14, 2020, the Board of Directors (the “Board”) of The RBB Fund, Inc. (the “Company”), based upon the recommendation of Schneider Capital Management Company, the investment adviser to the Fund (the “Adviser”), approved a Plan of Liquidation and Termination for the Fund (the “Plan”). The Board concluded that it is in the best interest of the Fund and its shareholders that the Fund be closed and liquidated as a series of the Company effective as of the close of business on July 15, 2020.
The Adviser has determined to waive any applicable redemption fees for shares of the Fund redeemed on or after May 15, 2020.
Effective as of the close of business on May 25, 2020, in anticipation of the liquidation, the Fund will no longer accept purchases into the Fund. In addition, the Adviser is in the process of transitioning the Fund’s portfolio securities to cash and/or cash equivalents and the Fund will no longer be pursuing its stated investment objective.
Shareholders of the Fund may redeem their investments as described in the Fund’s Prospectus. The redemption of shares will generally be considered a taxable event.
If you hold shares of the Fund in an IRA account, you have 60 days from the date you receive your proceeds from the liquidation of the Fund (the “Proceeds”) to reinvest or “rollover” your Proceeds into another IRA and maintain their tax-deferred status. You must notify the Fund’s transfer agent by telephone at 1-888-520-3277 (toll free) prior to July 15, 2020, of your intent to rollover your IRA account to avoid withholding deductions from your Proceeds.
Pursuant to the Plan, if the Fund has not received your redemption request or other instruction prior to July 15, 2020, your shares will be automatically redeemed on July 15, 2020 at the closing net asset value per share, and you will receive your Proceeds from the Fund, subject to any required withholding. These Proceeds will generally be subject to federal and possibly state and local income taxes if the redeemed Fund shares are held in a taxable account, and the Proceeds exceed your adjusted basis in the Fund shares redeemed.
If the redeemed Fund shares are held in a qualified retirement account, such as an IRA, the redemption Proceeds may not be subject to current income taxation. You should consult with your tax advisor on the consequences of this redemption to you.
Shareholder inquiries should be directed to the Fund at 1-888-520-3277 (toll free).
* * * * *
Please retain this supplement for your reference.
(Disclosure: I have small positions in the this fund)

I don't know enough to fool with any of the default settings.
These were the standouts.
GLFOX hits 7.03% at the 10th percentile.
DODGX at 5.36. Which was better than VDIGX 2.51 or VEIRX 2.65. Shoot. DODIX is at 2.82
NBGNX at 5.26%
FDFAX at 5.48
FBIOX at 4.15. By this test perhaps I should have held onto VGHCX instead of selling it, and splitting it between FBIOX and FSMEX. But I wanted to get away from the providers in their portfolio.
PRBLX is at 5.26%. So I'll keep that on my watch list.
Thanks for the link Bee. I'm not sure what I learned though. My plan is to spend down the IRA completely anyway. I hope to leave the taxable to the kids.

PRWCX's manager David Giroux chimes in on GE:

What about some nonutility stocks?
We are bullish on General Electric [GE].
GE is a controversial name lately.
We didn’t own it until recently. I’ve known [new CEO] Larry Culp for about 19 years, from when he ran Danaher [DHR]. I don’t think Larry has ever failed at anything, and we’re confident he will turn around GE. I don’t own GE for the upcoming quarter or the upcoming year; I’m looking at free cash flow in 2023 or 2024, and think this stock can double or triple over three to five years. It’s hard to find situations like that in the marketplace.

t-rowe-price-fund-manager-david-giroux-stock-picks-disruption-51570818202

Does PRWCX have GE stock right? Only VFINX and VTSMX hold more shares. GE is alomost 4% of PRWCX portfolio.
Some commentary:

GE's problem can be summarized in one sentence: The company is burning cash. Hence, other things equal, the company -- and its stock -- should be worth less every day that passes. While that is not true of some Nasdaq darlings, the market's consistent punishment of GE shares over the past decade shows that there is some efficiency left in the U.S. stock markets.

and,

Mr. Market has been dead right on GE. To shore up its balance sheet, GE finalized the sale of its Biopharma division for $20 billion on March 31st of this year. That was probably the worst time in human history to sell a business that focuses on therapeutics -- look at a stock chart of Moderna (MRNA) , Arcturus Therapeutics (ARCT) or Gilead (GILD) if you don't believe me -- but, hey, this is GE we are talking about.

Source:
mr-market-has-been-dead-right-on-general-electric

what's interesting is to not use longest time frame but to set the start date to 2007, so you're going into retirement at a very bad time. i did it w PRWCX. started with 1 mil and at the end of 2019 you had 780k with a max drawdown of 55%, at the 10th percentile. scary. but at least you still had money. oh -- did retirement of 20 years. thanks for posting this!

Great point...thanks. Wonder if starting in the year 2000 (tech bubble) had more dire results. The perpetual Withdrawal Rate would surely be lower (for both starting years) and maybe a better data points to use for this 2020 start year scenario.

what's interesting is to not use longest time frame but to set the start date to 2007, so you're going into retirement at a very bad time. i did it w PRWCX. started with 1 mil and at the end of 2019 you had 780k with a max drawdown of 55%, at the 10th percentile. scary. but at least you still had money. oh -- did retirement of 20 years. thanks for posting this!

https://www.sec.gov/Archives/edgar/data/809586/000110465920062270/tm2016450-9_497.htm
497 1 tm2016450-9_497.htm 497
Registration No. 33-11371
1940 Act File No. 811-4982
Filed Pursuant to Rule 497(e)
HEARTLAND GROUP, INC.
Heartland Select Value Fund
Investor (HRSVX)
Institutional (HNSVX)
Supplement Dated May 15, 2020 to the
Prospectus and Summary Prospectus, each dated May 1, 2020
On May 14, 2020, the Board of Directors of Heartland Group, Inc. (the “Company”), unanimously approved the proposed reorganization of the Heartland Select Value Fund (the “Select Value Fund”) into the Heartland Mid Cap Value Fund (the “Mid Cap Value Fund”), each a series of the Company, subject to the approval of the shareholders of the Select Value Fund (the “Reorganization”). Heartland Advisors, Inc. (the “Advisor”) serves as the investment adviser to both Funds. The Advisor recommended the Reorganization in order to combine the assets of the Funds into a single Fund that the Advisor believes will attract new shareholders and, therefore, benefit all shareholders. Both Funds have similar investment objectives, strategies and risks. Both Funds are managed pursuant to the Advisor’s disciplined and time-tested 10 Principles of Value Investing™ framework.
The Board of Directors of the Company approved an Agreement and Plan of Reorganization that provides for the acquisition of all of the assets of the Select Value Fund by the Mid Cap Value Fund in exchange for shares of the Mid Cap Value Fund. Shareholders of the Select Value Fund would become shareholders of the Mid Cap Value Fund, receiving shares of the applicable class of the Mid Cap Value Fund equal in value to the shares of the Select Value Fund held immediately prior to the Reorganization. The Reorganization is intended to qualify as a tax-free transaction for federal income tax purposes.
Shareholders of record of the Select Value Fund will receive a Proxy Statement/ Prospectus, which describes in detail the Reorganization, the Mid Cap Value Fund and the Agreement and Plan of Reorganization, and seeks their approval of the proposed Reorganization. Assuming shareholders of the Select Value Fund approve the Agreement and Plan of Reorganization, the Reorganization is expected to close in the fourth quarter of 2020.
This Supplement should be retained with your Prospectus for future reference.
The date of this Supplement is May 15, 2020.