CPQCX — Counterpoint Long-Short Equity Fund
Data updated: 2021-02-26
CPQCX — Counterpoint Long-Short Equity Fund. Developed ex-US Value Equity · $5.93M AUM · 2.77% expense ratio. Holdings, fees, performance and SEC filings.
CPQCX Fund Overview
CPQCX — Counterpoint Long-Short Equity Fund is a US mutual fund managed by Northern Lights Fund Trust III, categorised as Developed ex-US Value Equity. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US mutual fund
- Manager: Northern Lights Fund Trust III
- Category: Developed ex-US Value Equity
- Assets under management: $5.93M
- 1-year return: -24.7%
- Ticker: CPQCX
- SEC CIK: 0001537140
- SEC series ID: S000058178
- Share class ID: C000190796
CPQCX Investment Objective and Strategy
Counterpoint Long-Short Equity Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Northern Lights Fund Trust III.
Investment objective
The Counterpoint Long-Short Equity Fund (the Fund) seeks capital appreciation and preservation.
Principal investment strategy
Under normal market conditions, the Fund invests at least 80% of its assets (plus the amount of borrowings, if any) in long and short positions in equity instruments of any market capitalization. Equity instruments include domestic and foreign common stock, preferred stock, depositary receipts, equity swaps (including single-name, index, and basket swaps), options, equity index futures, and exchange-traded funds (ETFs) that invest in these types of securities. The Fund may hedge exposure to foreign currencies using foreign currency forwards or futures. The Fund targets a market-neutral (zero beta) allocation to individual stocks while seeking broad market exposure of an average of 0.5 beta to equity markets (although the Funds actual beta may range from 0.4 to 0.6). The Fund allocates its portfolio between these two sleeves.
Beta is a measure of the volatility, or systematic risk, of a security or a portfolio in comparison to the market as a whole. Beta is assigned a number with a beta of 1 indicating that the securitys price moves with the market. A beta of less than 1 means that the security is theoretically less volatile than the market. A beta of greater than 1 indicates that the securitys price is theoretically more volatile than the market. In managing the market-neutral portion of the strategy, the Funds adviser, Counterpoint Mutual Funds, LLC (the Adviser), selects the particular stocks on which to go long and short based on quantitative models. The models are based on proprietary research related to economic indicators found in peer-reviewed academic journals. The signals from the quantitative models indicate which stocks are undervalued and likely to increase in price and which stocks are overvalued and likely to decrease in price.
The Adviser takes long positions in the undervalued securities and short positions in the overvalued securities. The Funds methodology may result in high portfolio turnover (turnover over 100%). For the market exposure portion of the strategy, the Adviser selects a blend of equity index futures, equity index ETFs, and/or equity index swaps based on various factors (liquidity, tracking error, and cost) to achieve exposure to the equity markets with a beta of 0.5.
CPQCX Performance
Total returns for CPQCX (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| 1 year | -24.7% |
CPQCX Risk Information
Risk metrics for CPQCX, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 10.1%
CPQCX Costs and Fees
CPQCX costs about $277 per $10,000 invested per year in fund expenses.
- Net expense ratio: 2.77%
- Gross expense ratio: 3.39%
- Portfolio turnover: 324%
- Brokerage commissions: 36.28 bps of average net assets (SEC N-CEN)
CPQCX Cashflows
Over the 12 months to 2020-12, Counterpoint Long-Short Equity Fund had net inflows of $15.73M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2020-12 | $133.38K |
| 2020-11 | $7.43M |
| 2020-10 | $480.16K |
| 2020-09 | $1.33M |
| 2020-08 | $458.48K |
| 2020-07 | $195.24K |
CPQCX Debt Constituents
No individual debt constituents are reported in Counterpoint Long-Short Equity Fund's latest SEC N-PORT filing.
CPQCX Prospectus and SEC Filings
Official Counterpoint Long-Short Equity Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2020-02-14
- Prospectus supplement (497) — filed 2020-03-13
- Prospectus supplement (497) — filed 2019-03-04
- Portfolio holdings (N-PORT) — filed 2021-02-26
- Portfolio holdings (N-PORT) — filed 2020-11-25
- Portfolio holdings (N-PORT) — filed 2020-08-28
- Annual census (N-CEN) — filed 2020-12-14
- Annual census (N-CEN) — filed 2019-12-16
Related Funds
Other Developed ex-US Value Equity funds tracked on ABC INVEST:
Data Sources
ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.