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For Terms and Definitions, please click here.
2023 Commentaries
December 31, 2023
September 30, 2023
June 30, 2023
March 31, 20232022 Commentaries
December 31, 2022
September 30, 2022
June 30, 2022
March 31, 20222021 Commentaries
December 31, 2021
September 30, 2021
June 30, 2021
March 31, 20212020 Commentaries
December 31, 2020
September 30, 2020
June 30, 2020
March 31, 20202019 Commentaries
December 31, 2019
September 30, 2019
June 30, 2019
March 31, 20192018 Commentaries
December 31, 2018
September 30, 2018
June 30, 2018
March 31, 20182017 Commentaries
December 31, 2017
September 30, 2017
June 30, 2017
March 31, 20172016 Commentaries
December 31, 2016
September 30, 2016
June 30, 2016
March 31, 20162015 Commentaries
December 31, 2015
September 30, 2015
June 30, 2015
March 31, 20152014 Commentaries
December 31, 2014
September 30, 2014
June 30, 2014
March 31, 2014
2013 Commentaries
December 31, 2013
September 30, 2013
June 30, 2013
March 31, 2013
2012 Commentaries
December 31, 2012
September 30, 2012
June 30, 2012
March 31, 2012
2011 Commentaries
December 31, 2011
September 30, 2011
June 30, 2011
March 31, 2011
2010 Commentaries
December 31, 2010
September 30, 2010
June 30, 2010
March 31, 2010
2009 Commentaries
December 31, 2009
September 30, 2009
June 30, 2009
March 31, 2009
Opinions expressed are subject to change, are not guaranteed and should not be considered investment advice.
Fund holdings and sector allocations are subject to change at any time and should not be considered a recommendation to buy or sell any security.
Diversification does not assure a profit nor protect against loss in a declining market.
As of December 31, 2023, the standardized performance for the S&P 500 Index is as follows: 1-Year 26.29%, 5-Year 15.69% and 10-Year 12.03%. The S&P 500 Index is an unmanaged index commonly used to measure the performance of U.S. stocks. You cannot directly invest in an index. S&P 500® is a trademark of The McGraw-Hill Companies.
The Earnings Growth Rate is not a forecast of the fund’s future performance. Earnings growth for a Fund holding does not guarantee a corresponding increase in the market value of the holding or the Fund.
Stocks are generally perceived to have more financial risk than bonds in that bond holders have a claim on firm operations or assets that is senior to that of equity holders. In addition, stock prices are generally more volatile than bond prices. Investments in debt securities typically decrease in value when interest rates rise. This risk is usually greater for longer term debt securities. A stock may trade with more or less liquidity than a bond depending on the number of shares and bonds outstanding, the size of the company, and the demand for the securities. Similarly, the transaction costs involved in trading a stock may be more or less than a particular bond depending on the factors mentioned above and whether the stock or bond trades upon an exchange. Depending on the entity issuing the bond, it may or may or may not afford additional protections to the investor, such as a guarantee of return of principal by a government or bond insurance company. There is typically no guarantee of any kind associated with the purchase of an individual stock. Bonds are often owned by individuals interested in current income while stocks are generally owned by individuals seeking price appreciation with income a secondary concern. The tax treatment of returns of bonds and stocks also differs given differential tax treatment of income versus capital gain.
Performance data quoted represents past performance; past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance of the Fund may be lower or higher than the performance quoted. Performance data current to the most recent calendar quarter-end and month-end may be obtained by clicking the links.
Small-capitalization companies tend to have limited liquidity and greater price volatility than large-capitalization companies. Mutual fund investing involves risk. Principal loss is possible. Investments in real estate securities may involve greater risk and volatility including greater exposure to economic downturns and changes in real estate values, rents, property taxes, tax, and other laws. A real estate investment trust’s (REITs) share price may decline because of adverse developments affecting the real estate industry. Investments in American Depository Receipts (ADRs) are subject to some of the same risk associated with directly investing in securities of foreign issuers, including the risk of changes in currency exchange rates, expropriation or nationalization of assets, and the impact of political, diplomatic, or social events.
For Fund holdings information, please refer to the Fund Calendar Quarter Holdings section of this website. Securities and sectors mentioned are not recommendations to buy or sell any security and are subject to change at anytime.
Current and future portfolio holdings are subject to risk.
The Thompson IM Funds are distributed by Quasar Distributors, LLC.