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Trending ETFs

Knights of Columbus Long/Short Equity Fund

mutual fund
KCEIX
Payout Change
Pending
Price as of:
$11.66 -0.02 -0.17%
primary theme
Long-Short Equity
share class
KCEIX (Mutual Fund)

Knights of Columbus Long/Short Equity Fund

Payout Change
Pending
Price as of:
$11.66 -0.02 -0.17%
primary theme
Long-Short Equity
share class
KCEIX (Mutual Fund)

Knights of Columbus Long/Short Equity Fund

Payout Change
Pending
Price as of:
$11.66 -0.02 -0.17%
primary theme
Long-Short Equity
share class

Name

As of 10/08/2024

Price

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

$11.66

$134 M

2.50%

$0.29

2.05%

Vitals

YTD Return

10.8%

1 yr return

12.5%

3 Yr Avg Return

9.8%

5 Yr Avg Return

N/A

Net Assets

$134 M

Holdings in Top 10

48.0%

52 WEEK LOW AND HIGH

$11.7
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 2.05%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover N/A

Redemption Fee 2.00%


Min Investment

Standard (Taxable)

$25,000

IRA

N/A


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 10/08/2024

Price

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

$11.66

$134 M

2.50%

$0.29

2.05%

KCEIX - Profile

Distributions

  • YTD Total Return 10.8%
  • 3 Yr Annualized Total Return 9.8%
  • 5 Yr Annualized Total Return N/A
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio -1.06%
DIVIDENDS
  • Dividend Yield 2.5%
  • Dividend Distribution Frequency Quarterly

Fund Details

  • Legal Name
    Knights of Columbus Long/Short Equity Fund
  • Fund Family Name
    Catholic Investor
  • Inception Date
    Dec 02, 2019
  • Shares Outstanding
    5109861
  • Share Class
    I
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Matthew Malgari

Fund Description

Under normal circumstances, the Fund invests at least 80% of its net assets, plus any borrowings for investment purposes, in long and short positions in equity securities. This investment policy can be changed by the Fund upon 60 days’ prior written notice to shareholders.

The equity securities in which the Fund invests are primarily common stocks of large-capitalization U.S. companies and derivatives with economic characteristics similar to such securities. The Fund considers a large-capitalization company to be a company with a market capitalization above the 70th percentile of the market capitalization

of companies listed on the New York Stock Exchange (“NYSE”) (approximately $8.75 billion as of January 31, 2024).

The Fund takes long and short positions in equity securities. A long position arises where the Fund holds a security in its portfolio or maintains a position through a derivative instrument that provides economic exposure similar to direct ownership of the security. Short positions generally involve selling a security not held within the portfolio in anticipation that the security’s price will decline or entering into a derivative instrument that provides economic exposure similar to a short sale of the security. To complete a short sale transaction, the Fund typically must borrow the stock to make delivery to the buyer. The Fund then would be obligated to replace the stock borrowed by purchasing the stock at the market price at the time of replacement. The price at such time may be higher or lower than the price at which the stock was sold short by the Fund. The Fund will be managed with a net long exposure bias, but has the ability to have net short exposure. The Fund may hold a substantial portion of its total assets in cash when it holds significant short positions.

In addition to investing in derivatives to take long and short positions, the Fund may also invest in derivatives for hedging or risk management purposes. The derivatives in which the Fund principally invests are options and swaps.

The Fund seeks to make investment decisions consistent with the United States Conference of Catholic Bishops’ Socially Responsible Investing Guidelines (the “USCCB Guidelines”), and therefore, the Fund is designed to avoid investments in companies that are believed to be involved with abortion, contraception, pornography, stem cell research/human cloning, weapons of mass destruction, or other enterprises that conflict with the USCCB Guidelines. As part of the screening process for the Fund, the Adviser uses information from a third-party environmental, social, and governance research firm and consults with experts to assess the policies and practices of companies based on the criteria set forth in the USCCB Guidelines. Based on such assessments, the Adviser compiles and maintains a list of companies that it determines to be inconsistent with the USCCB Guidelines (the “Restricted Securities List”). The Fund seeks to avoid investments in companies identified through this process. The policies and practices of the companies selected for the Fund are monitored for various issues contemplated by the USCCB Guidelines. If L2 Asset Management, LLC (“L2 Asset Management” or the “Sub-Adviser”), the Fund’s sub-adviser, becomes aware that the Fund is invested in a company whose policies and practices are inconsistent with the USCCB Guidelines, the

Sub-Adviser may sell the company’s securities or otherwise exclude future investments in such company. Although the Fund is designed to avoid taking long positions in the equity securities of such companies, the Fund may, consistent with the USCCB Guidelines, take short positions in the equity securities of such companies. The criteria used to screen out companies for the Fund may be modified from time to time to seek to maintain alignment with any changes to the USCCB Guidelines.

In selecting investments to buy and sell for the Fund, the Sub-Adviser utilizes a hybrid quantitative and fundamental investment process to seek to identify atypically high-quality companies for their level of market valuation. Stocks are evaluated by the Sub-Adviser on many variables that can be classified broadly into various categories, including “valuation” and “earnings quality.” “Valuation” contains traditional measures such as the dividend-to-price ratio and the earnings-to-price ratio, and “earnings quality” is used to assess the quality of earnings using measures such as accounting accruals and inventory turnover. Other variables focus on measures of analysts’ forecasts, balance sheet quality, market movements and return patterns including short and long-term price momentum. The Fund may focus its investments in one or more sectors.

Due to its investment strategy, the Fund may buy and sell securities frequently.

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KCEIX - Performance

Return Ranking - Trailing

Period KCEIX Return Category Return Low Category Return High Rank in Category (%)
YTD 10.8% -12.6% 30.7% 47.06%
1 Yr 12.5% -10.3% 39.9% 67.32%
3 Yr 9.8%* -11.9% 25.0% 18.25%
5 Yr N/A* -2.9% 24.5% N/A
10 Yr N/A* -3.9% 9.9% N/A

* Annualized

Return Ranking - Calendar

Period KCEIX Return Category Return Low Category Return High Rank in Category (%)
2023 0.6% -17.3% 43.8% 72.55%
2022 2.6% -54.0% 17.4% 13.77%
2021 16.7% -40.0% 54.1% 19.70%
2020 -11.2% -47.6% 88.4% 86.51%
2019 N/A -20.3% 62.6% N/A

Total Return Ranking - Trailing

Period KCEIX Return Category Return Low Category Return High Rank in Category (%)
YTD 10.8% -12.6% 30.7% 47.06%
1 Yr 12.5% -10.3% 39.9% 67.32%
3 Yr 9.8%* -11.9% 25.0% 18.25%
5 Yr N/A* -2.9% 24.5% N/A
10 Yr N/A* -3.9% 9.9% N/A

* Annualized

Total Return Ranking - Calendar

Period KCEIX Return Category Return Low Category Return High Rank in Category (%)
2023 2.8% -14.5% 43.8% 88.89%
2022 10.4% -54.0% 50.3% 11.59%
2021 16.7% -40.0% 61.6% 34.85%
2020 -11.1% -29.9% 91.0% 90.48%
2019 N/A -17.9% 79.4% N/A

NAV & Total Return History


KCEIX - Holdings

Concentration Analysis

KCEIX Category Low Category High KCEIX % Rank
Net Assets 134 M 1.08 M 6.67 B 41.83%
Number of Holdings 97 3 2209 57.52%
Net Assets in Top 10 60.5 M 625 K 2.41 B 45.75%
Weighting of Top 10 47.99% 2.1% 101.8% 49.67%

Top 10 Holdings

  1. BROWN BROTHERS HARRIMAN SWEEP INTEREST 30.18%
  2. APPLE INC COMMON STOCK 2.19%
  3. NETAPP INC COMMON STOCK 2.15%
  4. EBAY INC COMMON STOCK 2.02%
  5. EXPEDIA GROUP INC COMMON STOCK 1.99%
  6. BERKSHIRE HATHAWAY INC-CL B COMMON STOCK 1.97%
  7. OWENS CORNING COMMON STOCK 1.89%
  8. META PLATFORMS INC COMMON STOCK 1.88%
  9. PULTEGROUP INC COMMON STOCK 1.86%
  10. ALPHABET INC-CL A COMMON STOCK 1.85%

Asset Allocation

Weighting Return Low Return High KCEIX % Rank
Cash
77.37% 0.00% 99.60% 10.46%
Stocks
22.63% 0.00% 100.92% 81.70%
Preferred Stocks
0.00% -1.01% 6.36% 66.67%
Other
0.00% -48.19% 99.35% 68.63%
Convertible Bonds
0.00% -0.02% 4.48% 63.45%
Bonds
0.00% 0.00% 90.68% 73.86%

Stock Sector Breakdown

Weighting Return Low Return High KCEIX % Rank
Technology
19.87% 0.00% 43.24% 41.13%
Financial Services
17.87% 0.00% 83.83% 37.90%
Consumer Defense
13.01% 0.00% 19.75% 9.68%
Healthcare
12.44% 0.00% 100.00% 69.35%
Communication Services
10.29% 0.00% 32.32% 14.52%
Industrials
7.34% 0.00% 31.93% 75.00%
Energy
6.94% 0.00% 32.57% 29.03%
Consumer Cyclical
6.78% 0.00% 88.83% 86.29%
Basic Materials
4.94% 0.00% 28.58% 37.10%
Utilities
0.53% 0.00% 21.71% 69.35%
Real Estate
0.00% 0.00% 10.93% 95.16%

Stock Geographic Breakdown

Weighting Return Low Return High KCEIX % Rank
US
22.63% 0.00% 100.92% 79.08%
Non US
0.00% -3.42% 69.12% 69.93%

KCEIX - Expenses

Operational Fees

KCEIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 2.05% 0.42% 8.51% 52.29%
Management Fee 1.25% 0.00% 2.50% 57.52%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.03% 1.54% N/A

Sales Fees

KCEIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 2.50% 5.75% N/A
Deferred Load N/A 1.00% 4.00% N/A

Trading Fees

KCEIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee 2.00% 0.50% 2.00% 14.29%

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.

KCEIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover N/A 0.00% 446.00% 47.02%

KCEIX - Distributions

Dividend Yield Analysis

KCEIX Category Low Category High KCEIX % Rank
Dividend Yield 2.50% 0.00% 27.22% 36.84%

Dividend Distribution Analysis

KCEIX Category Low Category High Category Mod
Dividend Distribution Frequency Quarterly Annual SemiAnnual Annual

Net Income Ratio Analysis

KCEIX Category Low Category High KCEIX % Rank
Net Income Ratio -1.06% -3.33% 2.16% 61.59%

Capital Gain Distribution Analysis

KCEIX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Semi-Annually Annually

Distributions History

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KCEIX - Fund Manager Analysis

Managers

Matthew Malgari


Start Date

Tenure

Tenure Rank

Sep 30, 2019

2.67

2.7%

Matthew Malgari, Co-Founder, Managing Member and Portfolio Manager at L2 Asset Management since 2014. Since 2013, he also has served as Managing Member of Kailash Capital, LLC. Matthew began his career in the industry at Fidelity Management & Research where he spent 14 years. At Fidelity Matthew worked as a trader, diversified analyst, sector analyst and Assistant Portfolio Manager of the Fidelity Diversified International Fund. In 2010 Matt became the Managing Director of Equity Research for Knight Capital Group. Mr. Malgari received a B.A. from Middlebury College and an M.B.A from Johnson Graduate School of Management, Cornell University.

Sanjeev Bhojraj


Start Date

Tenure

Tenure Rank

Sep 30, 2019

2.67

2.7%

Sanjeev Bhojraj, Ph.D., is a Portfolio Manager at L2 Asset Management, which he co-founded in 2014. Dr. Bhojraj is widely published in the top journals in finance and accounting. He has written on numerous topics in behavioral finance including Managerial Myopia, Herding, Corporate Governance and the Regulatory Effect on Mutual Fund Performance. Bhojraj is also a Chaired Professor in Asset Management and the Co-Director of the Parker Center for Investment Research at Johnson Graduate School of Management, Cornell University. Since 2010, he also has served as Managing Member of Kailash Capital, LLC. Dr. Bhojraj has a Ph.D. from the University of Florida, a B.Com. from the University of Madras, an ACA designation from the Institute of Chartered Accountants of India and an ACMA designation from the Institute of Cost Accountants of India.

Nathan Przybylo


Start Date

Tenure

Tenure Rank

Dec 31, 2021

0.41

0.4%

Mr. Nathan Przybylo is a Portfolio Manager and the Head of Quantitative Programming at L2 Asset Management. Prior to joining L2 Asset Management in 2014, he worked as an associate at Beghou Consulting, a healthcare consulting company, and as an intern at O’Shaughnessy Asset Management. He received a B.S. in Applied Mathematics from Northwestern University and an M.B.A. from Johnson Graduate School of Management, Cornell University.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.07 23.55 6.04 7.93