Thanks you both for your replies. Did the alternative allocation come from (reducing) your historic equity allocation or from your historic fixed income allocation?
For disclosure, since I am asked you about your info-
I started PHEFX and HELO at 1% which were entered by reducing PRWCX. I am comfortable with both, but I have to figure out how to increase them (from equity or fixed income).
I had previously experimented with BLNDX and closed that out at zero net gain / loss, except for the time value of money and opportunity cost.
QQMNX chart looks good and from what I can see it is a pure long-short fund (correct me if I am wrong). I like that it is not trying to shoots the lights out and its chart looks less correlated to SPY than BLNDX or QLEIX (previous alt funds discussed here). I am inclined to take money out of fixed income to buy QQMNX but have not decided yet.
@fred495, Do you no longer own Hedge equity fund(s)?

@fred495 and @MikeM,
If you are OK disclosing, what percentage of your portfolio makes up alternative funds and which one of the alternative funds do you currently own.

I have one alternative fund, QQMNX, which makes up 10% of my portfolio.

In a nod to all those still parked in short term and / or floating rate stuff,
Stan Druckenmiller at the Grant’s conference yesterday -
“Bipartisan fiscal recklessness is on the horizon.”
He’s short bonds equivalent to 15-20% of his portfolio.
“George [Soros, Stan's ex-boss / mentor] would be embarrassed of me” for not making it a bigger bet.
Obviously, I do not know Stan's time horizon for this bet and may differ from your criteria. So, please do not take the above as my commentary against anyone who is making a different bet. I am clueless about the bond market.

what percentage of your portfolio makes up alternative funds

Hi @BaluBalu. About 20% total. Hedge/options funds make up 15% of portfolio. 5% now in a market neutral fund (traded out of BLNDX to buy).
Options trading funds
JHQAX 12%
PHEFX 3%
Market neutral fund
QQMNX 5%

News item on nuclear:
https://finance.yahoo.com/news/us-report-says-corrosion-michigan-162423886.html

It is concerning that the IRS chart discussing the differences between RMD for IRAs and Defined contribution plans still uses 72 as the age for RMDs ( even though it says it was updated 8/2024)
" April 1 of the year following the later of the year you turn 72 (70 ½ if you reach 70 ½ before January 1, 2020) or the year you retire (if allowed by your plan). If you are a 5% owner, you must start RMDs by April 1 of the year following the year you turn 72 (70 ½ if you reach 70 ½ before January 1, 2020)."
https://www.irs.gov/retirement-plans/rmd-comparison-chart-iras-vs-defined-contribution-plans
The "FAQS" page has the correct information
"(73 if you reach age 72 after Dec. 31, 2022). "

Update:
T Rowe Price's proxy info for The New America High Income Fund, Inc. reorganization:
https://www.sec.gov/Archives/edgar/data/754915/000110465924105255/tm2421611d5_497.htm

FWIW, I asked Google, "are bonds in Nordic areas a good investment"
Answer:

It found that in the 20 years through 2022, Nordic companies “have outperformed their global peers on value creation, delivering an average annual total shareholder return of 11.6%, surpassing the global average of 9.4%.”Aug 4, 2024

fyi- if you enroll with the fund's direct agent the minimum is $50k. I spoke to a rep yesterday who spoke to a manager and you cannot bypass the minimum via enrolling in the AIP (which is $100 per month). Unsure if Fidelity or Schwab have minimum purchase requirements. Side note, good to see you around still FD1000. I recall your name from the early 2000s on M* discussions. Still miss Copie. GLTA. GranTorino

Good morning everyone – I’ve read through the discussion board and wanted to provide a couple of updates:
1) Although the prospectus was dated 9/27, first day of trading was 10/1 (that’s why some of you experienced some issues on 9/30)
2) We are fully up & running on Schwab. I was in contact with both Fidelity & Vanguard yesterday and should be available to trade on both platforms by early next week, with the possibility that they are available before the weekend.
3) Limited information is currently available on the website, with a full presentation and fact sheet available mid-November (after first full month of operation).
4) We are planning on having a webinar on the Nordic market in the near future, and will keep the Board updated.
As always, we are here as a resource.

@FD1000: my daughter, who lives in W-S NC, not a storm-ravaged area, encountered closed hiking areas not far from town, for no apparent reason. Maybe authorities have not had time to inspect their local trails.

https://www.sec.gov/Archives/edgar/data/811030/000089418924006027/villere497elowerexpensecap.htm
97 1 villere497elowerexpensecap.htm 497
Filed pursuant to Rule 497(e)
File Nos. 033-12213; 811-05037
Villere Balanced Fund
TICKER: VILLX
Villere Equity Fund
TICKER: VLEQX
(together, the “Funds”)
each a series of Professionally Managed Portfolios (the “Trust”)
Supplement dated October 1, 2024 to the
Statutory Prospectus dated December 29, 2023
On August 14-15, 2024, the Board of Trustees (the “Board”) of the Trust approved an amendment to the operating expense limitation agreement between the Trust, on behalf of the Villere Balanced Fund (“Balanced Fund”), Villere Equity Fund (“Equity Fund”) and St. Denis J. Villere & Company, LLC (the “Adviser”), pursuant to which the Adviser has agreed to reduce the Balanced Fund’s operating expense limit from 0.99% to 0.89%, and reduce the Equity Fund’s operating expense limit from 1.25% to 1.15%, both effective October 1, 2024.
The following disclosures are hereby revised to reflect the changes to the fees and expenses of the Funds:
Page 3 - “Summary Section - Villere Balanced Fund”
Fees and Expenses of the Fund
This table describes the fees and expenses that you may pay if you buy, hold and sell shares of the Balanced Fund. You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the table and expense example below.

https://www.sec.gov/Archives/edgar/data/1314414/000158064224005882/altegriscrabel497.htm
97 1 altegriscrabel497.htm 497
Altegris/Crabel Multi-Strategy Fund
Class A Shares CMSAX
Class I Shares CMSIX
(a series of Northern Lights Fund Trust)
Supplement dated September 27, 2024 to
the Prospectus and Statement of Information dated April 29, 2024
The Board of Trustees of Northern Lights Fund Trust (the “Board”) has determined based on the recommendation of the investment adviser of the Altegris/Crabel Multi-Strategy Fund (the “Fund”), that it is in the best interests of the Fund and its shareholders that the Fund cease operations. The Board has determined to close the Fund and redeem all outstanding shares on October 28, 2024.
Effective at the close of business September 27, 2024, the Fund will not accept any purchases and will no longer pursue its stated investment objectives. The Fund may begin liquidating its portfolio and may invest in cash equivalents such as money market funds until all shares have been redeemed. Any capital gains will be distributed as soon as practicable to shareholders. Shares of the Fund are otherwise not available for purchase.
Prior to October 28, 2024, you may redeem your shares, including reinvested distributions, in accordance with the “How to Redeem Shares” section in the Prospectus. Unless your investment in the Fund is through a tax-deferred retirement account, a redemption is subject to tax on any taxable gains. Please refer to the “Tax Status, Dividends and Distributions” section in the Prospectus for general information. You may wish to consult your tax advisor about your particular situation.
ANY SHAREHOLDERS WHO HAVE NOT REDEEMED THEIR SHARES OF THE FUND PRIOR TO OCTOBER 28, 2024 WILL HAVE THEIR SHARES AUTOMATICALLY REDEEMED AS OF THAT DATE, AND PROCEEDS WILL BE SENT TO THE ADDRESS OF RECORD. IF YOU HAVE QUESTIONS OR NEED ASSISTANCE, PLEASE CONTACT YOUR FINANCIAL ADVISOR DIRECTLY OR THE FUND AT 1-877-772-5838.
IMPORTANT INFORMATION FOR RETIREMENT PLAN INVESTORS
If you are a retirement plan investor, you should consult your tax advisor regarding the consequences of a redemption of Fund shares. If you receive a distribution from an Individual Retirement Account or a Simplified Employee Pension (SEP) IRA, you must roll the proceeds into another Individual Retirement Account within sixty (60) days of the date of the distribution in order to avoid having to include the distribution in your taxable income for the year. If you receive a distribution from a 403(b)(7) Custodian Account (Tax-Sheltered account) or a Keogh Account, you must roll the distribution into a similar type of retirement plan within sixty (60) days in order to avoid disqualification of your plan and the severe tax consequences that it can bring. If you are the trustee of a Qualified Retirement Plan, you may reinvest the money in any way permitted by the plan and trust agreement.
This Supplement and the existing Prospectus dated April 29, 2024, provide relevant information for all shareholders and should be retained for future reference. Both the Prospectus and the Statement of Additional Information dated April 29, 2024, have been filed with the Securities and Exchange Commission, are incorporated by reference and can be obtained without charge by calling the Fund at 1-877-772-5838.

fee for me was listed at $17. never seen that before.

@hank
From your link:

The law allows the IRS to waive the penalty if:
1. You didn't make a required payment because of a casualty event, disaster, or other unusual circumstance and it would be inequitable to impose the penalty, or
2. You retired (after reaching age 62) or became disabled during the tax year or in the preceding tax year for which you should have made estimated payments, and the underpayment was due to reasonable cause and not willful neglect.

The Week in Charts (10/01/24)
20 Rules for Markets and Investing...
00:00 Intro
00:20 Rule #1: Be humble.
01:11 Rule #2: Don't trust, verify.
02:57 Rule #3: Play the long game.
05:24 Rule #4: Understand that every time is different.
07:41 Rule #5: Pay no heed to predictions and price targets.
09:24 Rule #6: Embrace risk.
10:47 Rule #7: Buy the haystack.
13:16 Rule #8: Fight the Fed.
16:43 Rule #9: Expect the unexpected.
18:10 Rule #10: Don't chase the past.
20:16 Rule #11: Focus on saving before investing.
23:42 Rule #12: Simplify whenever possible.
26:27 Rule #13: Learn to be good at suffering.
27:54 Rule #14: Never interrupt compounding unnecessarily.
29:29 Rule #15: Tune out the noise.
32:01 Rule #16: Respect reversion to the mean.
34:15 Rule #17: Know what you own and why you own it.
39:36 Rule #18: Diversify, diversify, diversify.
41:44 Rule #19: Control your emotions.
44:05 Rule #20: Value time over money.
Video
Blog - 10/01 blog not currently available

I was able to place a trade but didn't do it.
I always wait several weeks to see the performance of a new fund.
We drove today to Johnson City TN and tried to hike in 2 places but they were closed. I don't understand why because these places were not flooded. Maybe they are muddy.

Small world. One of my hiking groups is out of Johnson City. Great town and even greater people.

Not sure a firm managing 25% less assets than it did 10 years ago is where I'd want to be, but to each their own.

+1

PS: “Dear SEC, I had no insider information, I just did my homework.”

Relax - No one here will tell.