Fund
TSUMX
Price as of:
$15.87
- $0.02
- 0.13%
Primary Theme
fund company
Name
As of 06/02/2026Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
Vitals
YTD Return
10.1%
1 yr return
25.6%
3 Yr Avg Return
16.1%
5 Yr Avg Return
9.3%
Net Assets
$112 M
Holdings in Top 10
24.6%
52 WEEK LOW AND HIGH
$15.9
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 1.17%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover N/A
Redemption Fee N/A
Min Investment
Standard (Taxable)
$2,500,000
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 06/02/2026Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
TSUMX - Profile
Distributions
- YTD Total Return 10.1%
- 3 Yr Annualized Total Return 16.1%
- 5 Yr Annualized Total Return 9.3%
- Capital Gain Distribution Frequency N/A
- Net Income Ratio 1.20%
- Dividend Yield 3.1%
- Dividend Distribution Frequency Quarterly
Fund Details
-
Legal NameThornburg Summit Fund
-
Fund Family NameTHORNBURG
-
Inception DateMar 01, 2019
-
Shares OutstandingN/A
-
Share ClassI
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerBen Kirby
Fund Description
p id="xdx_A83_eoef--StrategyNarrativeTextBlock_gRBSNTB-OTCN_zjbkwyKngp96" style="font: 10pt/12.5pt Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #000000; text-indent: 0pt; text-align: left"span style="text-transform: none"The Fund seeks to grow real wealth over time. “Real wealth” for this purpose is a mix of capital appreciation and current income that is intended to exceed the rate of inflation. While the Fund seeks to achieve its goal over a variety of different market environments by selecting investments from a range of asset classes, the value of an investment in the Fund will fluctuate and the Fund may not achieve its goal in every environment or in all environments. span id="xdx_905_eoef--StrategyPortfolioConcentration_c20260128__20260128__dei--DocumentInformationDocumentAxis__custom--RetailMember__dei--LegalEntityAxis__custom--S000064930Member_zIXvsGNpxH07"Under normal conditions the Fund’s investments are expected to emphasize long positions in equity securities and fixed income obligations, though the Fund may also invest a significant amount of its assets in commodities-related investments, in derivative instruments, in currencies, and in cash or cash equivalents./span There are no specific percentage limitations on the amount of the Fund’s portfolio that may be invested in a particular asset class, and the proportions of the Fund’s assets that are invested in the respective asset classes are expected to vary over time and from time to time depending upon Thornburg Investment Management, Inc.’s (“Thornburg”) perceptions of which types of investments represent better values and opportunities to achieve the Fund’s investment goal./span/p p style="font: 10pt/12.5pt Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #000000; text-indent: 0pt; text-align: left"span style="text-transform: none"With respect to its equity investments, the Fund may invest in any stock or equity security, including common stocks, preferred stocks, convertible securities, warrants, depositary receipts, publicly traded real estate investment trusts, and shares in exchange traded funds. The Fund may invest in companies of any size. The Fund’s portfolio may include investments in United States issuers and the securities of issuers domiciled outside the United States, including developing countries. The relative proportions of the Fund’s U.S. and foreign investments will vary over time depending upon Thornburg’s view of specific investment opportunities and macroeconomic factors. /span/p p style="font: 10pt/12.5pt Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #000000; text-indent: 0pt; text-align: left"span style="text-transform: none"With respect to its fixed income investments, the Fund expects that under normal market conditions its investments will include the following types of obligations, which may be of any quality and of any maturity:/span/p p style="font: 10pt/12.5pt Arial, sans-serif; margin: 0pt 0pt 0pt 13.8pt; text-transform: none; color: #000000; text-indent: -13.8pt; text-align: left"span style="width: 13.79pt; text-indent: 0; display: inline-block"span style="text-transform: none"•/span/spanspan style="text-transform: none"bonds and other debt obligations issued by domestic and foreign companies of any size (including lower-rated “high yield” or “junk” bonds);/span/p p style="font: 10pt/12.5pt Arial, sans-serif; margin: 0pt 0pt 0pt 13.8pt; text-transform: none; color: #000000; text-indent: -13.8pt; text-align: left"span style="width: 13.79pt; text-indent: 0; display: inline-block"span style="text-transform: none"•/span/spanspan style="text-transform: none"mortgage-backed securities and other asset-backed securities;/span/p p style="font: 10pt/12.5pt Arial, sans-serif; margin: 0pt 0pt 0pt 13.8pt; text-transform: none; color: #000000; text-indent: -13.8pt; text-align: left"span style="width: 13.79pt; text-indent: 0; display: inline-block"span style="text-transform: none"•/span/spanspan style="text-transform: none"convertible debt obligations;/span/p p style="font: 10pt/12.5pt Arial, sans-serif; margin: 0pt 0pt 0pt 13.8pt; text-transform: none; color: #000000; text-indent: -13.8pt; text-align: left"span style="width: 13.79pt; text-indent: 0; display: inline-block"span style="text-transform: none"•/span/spanspan style="text-transform: none"obligations issued by foreign governments (including developing countries);/span/p p style="font: 10pt/12.5pt Arial, sans-serif; margin: 0pt 0pt 0pt 13.8pt; text-transform: none; color: #000000; text-indent: -13.8pt; text-align: left"span style="width: 13.79pt; text-indent: 0; display: inline-block"span style="text-transform: none"•/span/spanspan style="text-transform: none"collateralized mortgage obligations (“CMOs”), collateralized debt obligations (“CDOs”), collateralized bond obligations (“CBOs”), and collateralized loan obligations (“CLOs”); /span/p p style="font: 10pt/12.5pt Arial, sans-serif; margin: 0pt 0pt 0pt 13.8pt; text-transform: none; color: #000000; text-indent: -13.8pt; text-align: left"span style="width: 13.79pt; text-indent: 0; display: inline-block"span style="text-transform: none"•/span/spanspan style="text-transform: none"obligations of the U.S. government and its agencies and sponsored enterprises;/span/p p style="font: 10pt/12.5pt Arial, sans-serif; margin: 0pt 0pt 0pt 13.8pt; text-transform: none; color: #000000; text-indent: -13.8pt; text-align: left"span style="width: 13.79pt; text-indent: 0; display: inline-block"span style="text-transform: none"•/span/spanspan style="text-transform: none"zero coupon bonds and “stripped” securities (including both income only and principal only securities); and/span/p p style="font: 10pt/12.5pt Arial, sans-serif; margin: 0pt 0pt 8pt 13.8pt; text-transform: none; color: #000000; text-indent: -13.8pt; text-align: left"span style="width: 13.79pt; text-indent: 0; display: inline-block"span style="text-transform: none"•/span/spanspan style="text-transform: none"taxable municipal obligations and participations in municipal obligations./span/p p style="font: 10pt/12.5pt Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #000000; text-indent: 0pt; text-align: left"span style="text-transform: none"With respect to its commodities-related investments, the Fund may invest in exchange traded funds or in other, similar investment vehicles that invest in commodities, and the Fund may invest in commodity-linked derivative instruments whose/span/p p style="font: 10pt/12.5pt Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #000000; text-indent: 0pt; text-align: left"span style="text-transform: none"value is based on the value of an underlying commodity or commodity index, such as commodity futures contracts, commodity forward contracts, and commodity options contracts. The Fund may also seek to obtain exposure to the investment returns of commodities markets by investing in equity and debt securities of companies that operate commodities-based businesses. /span/p p style="font: 10pt/12.5pt Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #000000; text-indent: 0pt; text-align: left"span style="text-transform: none"The Fund’s investments are determined by individual issuer and industry analysis. Investment decisions are based on domestic and international economic developments, outlooks for securities markets, interest rates and inflation, the supply and demand for equity and debt securities, and analysis of specific issuers. The Fund ordinarily acquires and holds debt obligations for investment rather than for realization of gains by short-term trading on market fluctuations. However, the Fund may dispose of any such security prior to its scheduled maturity to enhance income or reduce loss or to change the portfolio’s average maturity, and the Fund may dispose of any of its investments if Thornburg has identified a better investment opportunity, in response to changes in the conditions or business of the investment’s issuer or changes in overall market conditions, if Thornburg has a target price for the investment and that target price has been achieved, or if, in Thornburg’s opinion, the investment no longer serves to achieve the Fund’s investment goals./span/p p style="font: 10pt/12.5pt Arial, sans-serif; margin: 0pt 0pt 8pt; text-transform: none; color: #000000; text-indent: 0pt; text-align: left"span style="text-transform: none"The Fund may also purchase or sell futures contracts or purchase or sell interest rate swaps or credit default swaps to hedge against a decline in the value of the Fund’s other investments, to obtain investment exposure to a particular asset class, or to establish a short position with respect to an investment./spanspan id="retailproa773"/span/p
Read More
TSUMX - Performance
Return Ranking - Trailing
| Period | TSUMX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 10.1% | -4.4% | 17.8% | 6.39% |
| 1 Yr | 25.6% | -10.5% | 36.4% | 3.04% |
| 3 Yr | 16.1%* | 2.1% | 31.5% | 10.81% |
| 5 Yr | 9.3%* | 0.8% | 14.2% | 6.57% |
| 10 Yr | N/A* | 2.2% | 15.8% | N/A |
* Annualized
Return Ranking - Calendar
| Period | TSUMX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2025 | 13.1% | -14.9% | 24.6% | 2.74% |
| 2024 | 6.2% | -23.4% | 70.5% | 46.73% |
| 2023 | 10.0% | -12.2% | 23.9% | 53.60% |
| 2022 | -12.1% | -34.7% | 0.0% | 8.72% |
| 2021 | -3.9% | -11.9% | 18.1% | 95.19% |
Total Return Ranking - Trailing
| Period | TSUMX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 10.1% | -4.4% | 17.8% | 6.39% |
| 1 Yr | 25.6% | -10.5% | 36.4% | 3.04% |
| 3 Yr | 16.1%* | 2.1% | 31.5% | 10.81% |
| 5 Yr | 9.3%* | 0.8% | 14.2% | 6.57% |
| 10 Yr | N/A* | 2.2% | 15.8% | N/A |
* Annualized
Total Return Ranking - Calendar
| Period | TSUMX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2025 | 20.5% | -2.6% | 28.8% | 1.52% |
| 2024 | 11.4% | -0.3% | 72.2% | 44.29% |
| 2023 | 12.9% | -5.2% | 26.8% | 60.18% |
| 2022 | -9.8% | -29.0% | 10.9% | 13.71% |
| 2021 | 14.6% | -3.0% | 27.3% | 34.13% |
NAV & Total Return History
TSUMX - Holdings
Concentration Analysis
| TSUMX | Category Low | Category High | TSUMX % Rank | |
|---|---|---|---|---|
| Net Assets | 112 M | 945 K | 279 B | 84.50% |
| Number of Holdings | 211 | 2 | 16027 | 33.49% |
| Net Assets in Top 10 | 26 M | 921 K | 72.8 B | 90.06% |
| Weighting of Top 10 | 24.63% | 10.3% | 117.9% | 85.93% |
Top 10 Holdings
- Zegona Communications plc 3.72%
- Samsung Electronics Co Ltd 3.19%
- Taiwan Semiconductor Manufacturing Co Ltd 2.94%
- U.S. Treasury Notes 2.59%
- Orange SA 2.32%
- Citigroup Inc 2.13%
- Amazon.com Inc 2.12%
- Shell PLC 1.94%
- Colliers International Group Inc 1.89%
- Alphabet Inc 1.79%
Asset Allocation
| Weighting | Return Low | Return High | TSUMX % Rank | |
|---|---|---|---|---|
| Stocks | 64.31% | 0.00% | 100.04% | 59.33% |
| Bonds | 28.03% | 0.00% | 77.59% | 34.86% |
| Other | 6.99% | -40.95% | 100.30% | 4.28% |
| Convertible Bonds | 0.86% | 0.00% | 23.84% | 30.97% |
| Cash | 0.53% | -7.92% | 100.00% | 66.97% |
| Preferred Stocks | 0.14% | 0.00% | 24.85% | 18.04% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | TSUMX % Rank | |
|---|---|---|---|---|
| Technology | 26.04% | 0.00% | 44.21% | 6.49% |
| Financial Services | 17.66% | 0.00% | 38.77% | 14.84% |
| Communication Services | 13.02% | 0.00% | 38.10% | 2.32% |
| Healthcare | 10.75% | 0.00% | 29.35% | 85.47% |
| Consumer Cyclical | 9.86% | 0.00% | 19.36% | 48.07% |
| Basic Materials | 6.77% | 0.00% | 25.57% | 6.49% |
| Energy | 5.93% | 0.00% | 85.65% | 34.00% |
| Consumer Defense | 4.26% | 0.00% | 15.14% | 83.62% |
| Industrials | 4.21% | 0.00% | 24.37% | 95.98% |
| Utilities | 1.50% | 0.00% | 99.55% | 83.31% |
| Real Estate | 0.00% | 0.00% | 65.01% | 96.29% |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | TSUMX % Rank | |
|---|---|---|---|---|
| US | 32.76% | 0.00% | 100.04% | 88.38% |
| Non US | 31.55% | 0.00% | 31.55% | 0.15% |
Bond Sector Breakdown
| Weighting | Return Low | Return High | TSUMX % Rank | |
|---|---|---|---|---|
| Securitized | 38.04% | 0.00% | 92.13% | 5.86% |
| Government | 31.58% | 0.00% | 97.26% | 41.76% |
| Corporate | 6.85% | 0.00% | 98.21% | 94.30% |
| Cash & Equivalents | 0.23% | 0.00% | 99.92% | 69.42% |
| Derivative | 0.02% | -7.86% | 18.27% | 14.98% |
| Municipal | 0.00% | 0.00% | 24.80% | 78.43% |
Bond Geographic Breakdown
| Weighting | Return Low | Return High | TSUMX % Rank | |
|---|---|---|---|---|
| US | 26.41% | 0.00% | 77.59% | 33.94% |
| Non US | 1.62% | 0.00% | 19.00% | 5.50% |
TSUMX - Expenses
Operational Fees
| TSUMX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 1.17% | 0.04% | 20.46% | 35.46% |
| Management Fee | 0.75% | 0.00% | 1.83% | 87.99% |
| 12b-1 Fee | 0.00% | 0.00% | 1.00% | 3.94% |
| Administrative Fee | 0.10% | 0.01% | 0.83% | 51.76% |
Sales Fees
| TSUMX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | N/A | 2.25% | 5.75% | N/A |
| Deferred Load | N/A | 1.00% | 4.00% | N/A |
Trading Fees
| TSUMX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Max Redemption Fee | N/A | 0.00% | 2.00% | N/A |
Related Fees
Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.
| TSUMX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | N/A | 0.83% | 273.00% | 60.08% |
TSUMX - Distributions
Dividend Yield Analysis
| TSUMX | Category Low | Category High | TSUMX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 3.09% | 0.00% | 17.90% | 37.23% |
Dividend Distribution Analysis
| TSUMX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Quarterly | Annual | Monthly | Monthly |
Net Income Ratio Analysis
| TSUMX | Category Low | Category High | TSUMX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 1.20% | -2.34% | 13.92% | 48.99% |
Capital Gain Distribution Analysis
| TSUMX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Mar 19, 2026 | $0.123 | OrdinaryDividend |
| Dec 18, 2025 | $0.128 | OrdinaryDividend |
| Nov 20, 2025 | $0.094 | CapitalGainShortTerm |
| Nov 20, 2025 | $0.458 | CapitalGainLongTerm |
| Sep 18, 2025 | $0.072 | OrdinaryDividend |
| Jun 17, 2025 | $0.109 | OrdinaryDividend |
| Mar 20, 2025 | $0.043 | OrdinaryDividend |
| Dec 19, 2024 | $0.072 | OrdinaryDividend |
| Nov 21, 2024 | $0.025 | CapitalGainShortTerm |
| Nov 21, 2024 | $0.266 | CapitalGainLongTerm |
| Nov 21, 2024 | $0.291 | OrdinaryDividend |
| Sep 19, 2024 | $0.077 | OrdinaryDividend |
| Mar 14, 2024 | $0.071 | OrdinaryDividend |
| Dec 14, 2023 | $0.063 | OrdinaryDividend |
| Sep 14, 2023 | $0.032 | OrdinaryDividend |
| Jun 15, 2023 | $0.150 | OrdinaryDividend |
| Mar 16, 2023 | $0.055 | OrdinaryDividend |
| Dec 15, 2022 | $0.079 | OrdinaryDividend |
| Sep 15, 2022 | $0.073 | OrdinaryDividend |
| Jun 16, 2022 | $0.071 | OrdinaryDividend |
| Mar 17, 2022 | $0.064 | OrdinaryDividend |
| Dec 16, 2021 | $0.035 | OrdinaryDividend |
| Nov 18, 2021 | $2.168 | OrdinaryDividend |
| Mar 18, 2021 | $0.203 | OrdinaryDividend |
| Dec 17, 2020 | $0.016 | OrdinaryDividend |
| Nov 19, 2020 | $0.585 | OrdinaryDividend |
| Mar 19, 2020 | $0.065 | OrdinaryDividend |
| Dec 20, 2019 | $0.068 | OrdinaryDividend |
| Nov 14, 2019 | $0.049 | CapitalGainShortTerm |
| Sep 20, 2019 | $0.024 | OrdinaryDividend |
TSUMX - Fund Manager Analysis
Managers
Ben Kirby
Start Date
Tenure
Tenure Rank
Mar 01, 2019
3.25
3.3%
Ben Kirby, CFA Co-Head of Investments and Managing Director Ben Kirby is co-head of investments for Thornburg Investment Management. He is responsible for driving the investment process at the firm level. Ben is also a portfolio manager on multiple strategies. He joined Thornburg in 2008 as equity research analyst, was promoted to associate portfolio manager in 2011, and was named portfolio manager and managing director in 2013. Ben holds a BA in computer science from Fort Lewis College and an MBA from Duke University’s Fuqua School of Business. Prior to graduate school, Ben was a software engineer at Pinnacle Business Systems in Oklahoma City, Oklahoma. He is a CFA charterholder.
Jeff Klingelhofer
Start Date
Tenure
Tenure Rank
Mar 01, 2019
3.25
3.3%
Jeff Klingelhofer, CFA Co-Head of Investments and Managing Director Jeff Klingelhofer is co-head of investments for Thornburg Investment Management. He is responsible for driving the investment process at the firm level. Jeff is also a portfolio manager on multiple strategies. He joined the firm in 2010, then was promoted to associate portfolio manager in 2012. In 2015, Jeff was made portfolio manager and managing director. Jeff earned a BA in economics with a minor in business from the University of California at Irvine, and an MBA from the University of Chicago Booth School of Business in 2010. He is also a CFA charterholder. Prior to joining Thornburg Investment Management, Jeff spent four years with PIMCO, where he was responsible for monitoring portfolio leverage and risk tolerances. Jeff also worked as a commercial mortgage-backed securities intern with ratings agency DBRS and interned with the CalPERS alternative assets team.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.08 | 34.51 | 6.53 | 2.41 |