GCPTX — Gateway Equity Call Premium Fund
Data updated: 2026-08-28
GCPTX — Gateway Equity Call Premium Fund. United States Large Cap Blend / Core Equity · $335.07M AUM. Holdings, fees, performance and SEC filings.
GCPTX Fund Overview
GCPTX — Gateway Equity Call Premium Fund is a US mutual fund managed by Gateway Trust, categorised as United States Large Cap Blend / Core Equity. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US mutual fund
- Manager: Gateway Trust
- Category: United States Large Cap Blend / Core Equity
- Assets under management: $335.07M
- Ticker: GCPTX
- SEC CIK: 0001406305
- SEC series ID: S000046840
- Share class ID: C000188543
GCPTX Investment Objective and Strategy
Gateway Equity Call Premium Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Gateway Trust.
Investment objective
The Fund seeks total return with less risk than U.S. equity markets.
Principal investment strategy
Under normal circumstances, the Fund will invest at least 80% of its net assets (plus any borrowings made for investment purposes) in equity securities. Equity securities purchased by the Fund may include the following U.S. exchange-listed securities: common stocks; American Depositary Receipts (ADRs), which are securities issued by a U.S. bank that represent interests in foreign equity securities; and interests in real estate investment trusts (REITs). The Fund ordinarily invests in a broadly diversified equity portfolio, while also writing (selling) index call options with an aggregate notional value approximately equal to the market value of the equity portfolio. Writing index call options is intended to reduce the Funds volatility and provide steady cash flow. Cash flow from call option writing is intended to be an important source of the Funds return, although the Funds option writing activity reduces the Funds ability to profit from increases in the value of its equity portfolio.
The combination of a diversified stock portfolio and the steady cash flow from the sale of index call options is intended to moderate the volatility of returns relative to an all-equity portfolio. The Fund may also invest in affiliated and unaffiliated mutual funds and exchange-traded funds, to the extent permitted by the Investment Company Act of 1940. The Fund may invest in companies with small, medium or large market capitalizations. The Funds combination of a broadly diversified portfolio of common stocks and written index call options is similar to the components of the Cboe S&P 500 BuyWrite Index (the BXM SM ). The BXM SM is a passive total return index based on (1) buying an S&P 500 stock index portfolio, and (2) writing (selling) the near-term S&P 500 Index covered call option.
The Funds more flexible, active option management approach creates the potential for it to achieve higher long-term returns than the BXM SM while exhibiting a similar level of volatility, as defined by standard deviation of returns. The similarities between the BXM SM and the Funds equity investment strategy are expected to result in the Fund exhibiting a positive correlation to the broad U.S. equity markets similar to that exhibited by the BXM SM . With its core investment in equities, the Fund is intended to be significantly less vulnerable to fluctuations in value caused by interest rate volatility, a risk factor present in both fixed-income investments and hybrid investments (blends of equity and fixed-income securities). Through the use of index options, the Fund intends that its risk management strategy will reduce the volatility inherent in equity investments while also allowing for more participation in equity returns than hybrid investments.
Thus, the Fund seeks to provide an efficient trade-off between risk and reward, where risk is characterized by volatility or fluctuations in value over time. Purchasing Stocks The Fund invests in a diversified stock portfolio, generally consisting of approximately 200 to 400 stocks (including ADRs and REITs), designed to support the Funds index option-based risk management strategy as efficiently as possible while seeking to enhance the Funds after-tax total return. The Adviser uses a multifactor quantitative model to construct the stock portfolio. The model evaluates U.S.-exchange-traded equities that meet the criteria and constraints established by the Adviser. Generally, the Adviser tries to minimize the difference between the performance of the Funds stock portfolio and the performance of the index or indices underlying the Funds option strategies while also considering other factors, such as predicted dividend yield.
The Adviser monitors this difference and other factors, and rebalances and adjusts the stock portfolio from time to time, by purchasing and selling stocks. To the extent consistent with the Funds investment goal, the Adviser may also sell stocks to realize capital losses in an effort to minimize any required capital gain distributions. The Adviser expects the portfolio to generally represent the broad U.S. equity market. Writing Index Call Options The Fund continuously writes index call options, typically on broad-based securities market indices, with an aggregate notional value approximately equal to the market value of its broadly diversified stock portfolio. As the seller of the index call option, the Fund receives cash (the premium) from the purchaser. The purchaser of an index call option has the right to any appreciation in the value of the index over a fixed price (the exercise price) on a certain date in the future (the expiration date).
If the purchaser does not exercise the option, the Fund retains the premium. If the purchaser exercises the option, the Fund pays the purchaser the difference between the value of the index and the exercise price of the option. The premium, the exercise price and the value of the index determine the gain or loss realized by the Fund as the seller of the index call option. The Fund can also repurchase the call option prior to the expiration date, ending its obligation. In such a case, the difference between the cost of repurchasing the option and the premium received will determine the gain or loss realized by the Fund. Other Investments The Fund may invest in foreign securities traded in U.S. markets (through ADRs or stocks traded in U.S. dollars). The Fund may enter into repurchase agreements and/or hold cash and cash equivalents.
GCPTX Holdings
Top 10 holdings of Gateway Equity Call Premium Fund by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| NVIDIA Corp | 7.49% |
| Apple Inc | 6.63% |
| Microsoft Corp | 4.29% |
| Amazon.com Inc | 3.75% |
| Alphabet Inc | 3.19% |
| Broadcom Inc | 2.80% |
| Alphabet Inc | 2.60% |
| Micron Technology Inc | 2.04% |
| Meta Platforms Inc | 1.98% |
| Tesla Inc | 1.94% |
GCPTX Portfolio Allocation
Asset-class allocation of Gateway Equity Call Premium Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Equity | 99.4% |
| Cash & Equivalents | 1.6% |
GCPTX Performance
Total returns for GCPTX (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| YTD | 6.1% |
| 1 year | 17.6% |
| 3 years (annualised) | 13.7% |
| 5 years (annualised) | 9.3% |
GCPTX Risk Information
Risk metrics for GCPTX, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 7.6%
GCPTX Costs and Fees
GCPTX costs about $93 per $10,000 invested per year in fund expenses.
- Net expense ratio: 0.93%
- Gross expense ratio: 1.07%
- Portfolio turnover: 18%
- Brokerage commissions: 1.84 bps of average net assets (SEC N-CEN)
GCPTX Cashflows
Over the 12 months to 2026-06, Gateway Equity Call Premium Fund had net inflows of $22.37M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2026-06 | $1.18M |
| 2026-05 | $8.35M |
| 2026-04 | $10.33M |
| 2026-03 | −$10.81M |
| 2026-02 | $533.59K |
| 2026-01 | $5.74M |
GCPTX Debt Constituents
No individual debt constituents are reported in Gateway Equity Call Premium Fund's latest SEC N-PORT filing.
GCPTX Prospectus and SEC Filings
Official Gateway Equity Call Premium Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2026-04-29
- Prospectus (485BPOS) — filed 2025-04-29
- Prospectus (485BPOS) — filed 2024-04-26
- Portfolio holdings (N-PORT) — filed 2026-08-28
- Portfolio holdings (N-PORT) — filed 2026-05-29
- Portfolio holdings (N-PORT) — filed 2026-02-26
- Annual census (N-CEN) — filed 2026-03-16
- Annual census (N-CEN) — filed 2025-03-14
Related Funds
Other United States Large Cap Blend / Core 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.