Contribute appreciated shares
Transfer eligible public stock instead of selling it and realizing the gain today.
Pre-launch · Accredited investors
Diversify the position. Defer the decision.
Summit is building a modern exchange fund for investors whose biggest winner has become their biggest concentration risk.
Informational only. Not an offer to sell or a solicitation to buy any security.
Concentrated positionIllustrative
NVDASample holding
$1,000,000Single-stock exposure100%
Potential transition
Diversified fund interestWithout an immediate sale
Planned minimum$75KDesigned for broader access
Management fee0.35–1.00%Tiered by contribution
Initial settlementT+1Planned via DTC
Required horizon7 yearsLong-term by design
The concentrated-stock problem
Your success should not force a binary choice.
Holding a single name preserves upside but concentrates risk. Selling unlocks diversification but can trigger a substantial tax bill before the proceeds are reinvested.
An exchange fund introduces a third path: contribute eligible shares, receive diversified exposure, and defer realization of the embedded gain when applicable requirements are met.
How it works
A measured path from concentration to diversification.
The structure is established through formal fund documents—not an app or a token. Technology can support recordkeeping and operations, but it does not remove investment, tax, or legal risk.
Receive a fund interest
Your contribution is exchanged for an interest in a professionally managed, diversified fund.
Keep more capital invested
Deferring the initial tax event may allow the full pre-tax amount to remain invested and compound.
Become eligible after year seven
After the required holding period, eligible investors may receive a diversified basket in kind.
Illustrative calculator
See the potential value of keeping pre-tax capital invested.
Compare an immediate sale with a hypothetical tax-deferred exchange fund contribution over seven years.
Projected seven-year advantage
$394,180
29.9% ahead
Embedded gain $800,000Estimated tax today $230,000
Illustrative model only. Assumes the same constant return for both paths and excludes fund fees, transaction costs, future taxes, portfolio differences, and market volatility. It is not a forecast, tax advice, or investment advice.
Understand the structure
Built for informed, long-horizon decisions.
Exchange funds are complex private investment vehicles. Summit’s goal is to make the mechanics understandable without simplifying away the risks.
Start a conversationWho is Summit Exchange for?
The planned fund is designed for accredited investors with a concentrated, highly appreciated position in eligible publicly traded stock. Final eligibility, accepted securities, and offering terms will be established in formal offering documents.
Does contributing stock eliminate tax?
No. An exchange fund may defer recognition of gain at contribution when applicable requirements are met. Tax generally remains embedded and may be recognized later. Consult your own tax and legal advisers.
Why is the seven-year period important?
Exchange-fund distributions made after seven years may be eligible for in-kind treatment under applicable tax rules. Actual treatment depends on the fund, the distribution, and each investor’s circumstances.
Is the fund accepting investments today?
No. Summit Exchange is pre-launch. Joining the interest list is not an investment application, subscription, or commitment to invest.
Early access
Be first to hear when Summit Exchange opens.
Tell us how to reach you and, optionally, which concentrated position you are considering. Your email app will open so you can review the note before sending it.
- No investment commitment
- No brokerage connection
- No securities transferred