COLLEGE PLANNING | ESTATE PLANNING | INVESTING | PORTFOLIO SPOTLIGHT | REAL ESTATE | RETIREMENT | TAX PLANNING
Thornburg Investment Income Builder Fund
TICKER TIBIX
ASSETS
$ 17.7 billion
PERFORMANCE YTD 1 yr. 3 yr. 5 yr. 10 yr. 15 yr. 28.59 % 27.84 % 21.71 % 16.27 % 9.96 % 8.80 %
TOP 5 HOLDINGS
CONTACT INFO
Orange S. A.; Taiwan Semiconductor Manufacturing Co. Ltd.; Broadcom Inc.; Citigroup Inc.; AT & T Inc.
800-847-0200 • thornburg. com
TOP INDUSTRIES( As a % of portfolio)
Financial Services 24.7 % Communication Services 22.3 % Information Technology 14.9 % Utilities 8.8 % Energy 7.9 % Healthcare 7.5 % Industrials 5.2 % Consumer Staples 4.0 % Materials 2.4 % Consumer Discretionary 2.0 % Real Estate 0.2 %
Performance and AUM as of 11 / 5 / 25. Portfolio stats as of 9 / 30 / 25. Performance and expense numbers are for the institutional share class. Sources: Thornburg Investment Management and Morningstar.
Fishing In A Profitable Pond
The Thornburg Investment Income Builder Fund knows where to find winners. By Jeff Schlegel
MANY FINANCIAL ADVISORS AND INVESTORS like style boxes that put investments into tidy, convenient designations based on size and growth / value / blend factors. But some funds don’ t easily squeeze into a style box. One example is the Thornburg Investment Income Builder Fund. Or at least that’ s the way lead manager Brian McMahon sees it.
“ This fund doesn’ t fit into a style box other than a long-term savings box,” he says.“ I think that approach is easier for most clients to understand.”
The fund is a global, multi-cap portfolio of dividend-paying stocks and bonds that aims to provide investors with consistent income exceeding the average yield on U. S. stocks while continuing to grow their principal.
The portfolio targets a mix of 75 % equities and 25 % fixed income. That can vary depending on market opportunities, and as of this year’ s third quarter the portfolio’ s allocation to stocks was 80 %, since that’ s where the fund managers see the best opportunities. The remaining portion contains bonds and cash. According to Morningstar analyst David Reyna, the fund’ s equity allocation hasn’ t dipped below 79 % since 2013.
The fund can be found in Morningstar’ s large-value style box and in its global moderately aggressive allocation category, which includes funds with an equity exposure from 70 % to 85 %.
Santa Fe, N. M.-based Thornburg Investment Management launched the Income Builder Fund in 2002. McMahon has been a manager on this product since its inception. His two co-managers, Matt Burdett on the equity side and Christian Hoffmann on the bond side, have taken on lead roles within the past two years.
According to Morningstar, the fund has produced category and index-beating returns every year since 2021. That includes its current year-to-date performance through early November
DECEMBER 2025 | FINANCIAL ADVISOR MAGAZINE | 37