KPLCX — KP Large Cap Equity Fund

KPLCX Fund Overview

KPLCX — KP Large Cap Equity Fund is a US mutual fund managed by Kp Funds, categorised as Capital Appreciation / Growth Allocation. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.

• Type: US mutual fund
• Manager: Kp Funds
• Category: Capital Appreciation / Growth Allocation
• Assets under management: $3.44B
• 1-year return: 15.4%
• Ticker: KPLCX
• SEC CIK: 0001573386
• SEC series ID: S000041501
• Share class ID: C000128993

KPLCX Investment Objective and Strategy

KP Large Cap Equity Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Kp Funds.

Investment objective

"The KP Large Cap Equity Fund (the ""Fund"") seeks long-term capital appreciation primarily through investments in a diversified portfolio of large cap equity securities."

Principal investment strategy

"Under normal circumstances, the Fund invests at least 80% of its net assets (plus any borrowings for investment purposes) in equity securities of large capitalization companies. For purposes of the Fund's 80% policy, equity securities consist of common stocks, preferred stocks, bonds, notes and debentures convertible into common stocks ( i.e. , convertible securities), depositary receipts, rights and warrants, exchange-traded funds (""ETFs"") that invest in equity securities and derivatives with economic characteristics similar to equity securities. Callan LLC (the ""Adviser""), the Fund's investment adviser, considers large capitalization companies generally to be those companies with market capitalizations within the range of market capitalizations of the companies included in the Russell 1000 Index.

As of December 31, 2017, the market capitalization of companies included in the Russell 1000 Index ranged from $1.136 billion to $868.880 billion, as calculated by the index provider. The Russell 1000 Index is reconstituted annually. The Fund may change its 80% policy at any time and will notify shareholders 60 days in advance of the change. For purposes of the Fund's investment objective, the Adviser considers ""long-term capital appreciation"" to be capital appreciation over a period of greater than five years. The Fund principally invests in securities issued by domestic and foreign issuers. The Fund uses a ""multi-manager"" approach, whereby the Adviser allocates the Fund's assets among a number of sub-advisers with differing investment philosophies and strategies (each, a ""Sub-strategy"").

The Adviser determines the target Sub-strategy allocation for the Fund, identifies sub-advisers to manage the Fund's assets according to those Sub-strategies, and allocates Fund assets among sub-advisers to maintain the Fund's target Sub-strategy allocation. Sub-advisers generally are selected and retained based on: the Adviser's view regarding their expected contribution to excess return; their performance in managing the Fund's assets pursuant to their respective Sub-strategies; the Adviser's confidence in their investment process, personnel, investment resources, and organizational stability; the Adviser's belief in their ability to take on additional assets without undermining future Fund performance; and the Adviser's confidence in the robustness of their operational, back-office, trading, and compliance platforms.

Each sub-adviser invests the portion of the Fund's assets allocated to it under the general supervision of the Adviser. Each of the five Sub-strategies is described below: Passive Large Cap Equity : SSGA Funds Management, Inc. (""SSGA FM"") manages the portion of the Fund's assets allocated to the Passive Large Cap Equity Sub-strategy. The primary objective for the Sub-strategy is to seek to replicate, before fees and expenses, the performance of the Standard & Poor's 500 Index (the ""S&P 500 Index""). The S&P 500 Index is a free float-adjusted capitalization-weighted index comprised of equity securities issued by approximately 500 of the largest U.S. companies. As of December 31, 2017, the market capitalization of companies included in the S&P 500 Index ranged from $2.671 billion to $868.880 billion, as calculated by the index provider.

The S&P 500 Index is reconstituted from time to time as additions and deletions of companies included in the S&P 500 Index are made in response to corporate actions and market developments. Under normal circumstances, SSGA FM will seek to invest at least 80% of the Sub-strategy's assets in securities of companies included in the S&P 500 Index and futures contracts that are designed to track the S&P 500 Index. SSGA FM seeks to replicate the performance of the S&P 500 Index by investing in the constituent securities of the S&P 500 Index in approximately their S&P 500 Index weight. However, under various circumstances, it may not be possible or practicable to purchase all of those securities in those weightings. In those circumstances, SSGA FM may purchase a sample of stocks in the S&P 500 Index in proportions expected to replicate generally the performance of the S&P 500 Index as a whole.

In addition, from time to time, stocks are added to or removed from the S&P 500 Index. SSGA FM may sell stocks that are represented in the S&P 500 Index, or purchase stocks that are not yet represented in the S&P 500 Index, in anticipation of their removal from or addition to the S&P 500 Index. SSGA FM may at times purchase or sell futures contracts in lieu of investment directly in the stocks making up the S&P 500 Index. SSGA FM might do so in order to increase the Fund's investment exposure pending investment of cash in the stocks comprising the S&P 500 Index. Alternatively, SSGA FM might use futures to reduce its investment exposure to the S&P 500 Index in situations where it intends to sell a portion of the stocks in the Fund's portfolio but the sale has not yet been completed.

Active Large Cap Growth : T. Rowe Price Associates, Inc. (""T. Rowe Price"") manages the portion of the Fund's assets allocated to the Active Large Cap Growth Sub-strategy. The primary objective for the Sub-strategy is to out-perform the Russell 1000 Growth Index over a full market cycle. No assurances can be given that this objective will be achieved. The Russell 1000 Growth Index is a free float-adjusted capitalization-weighted index comprised primarily of equity securities issued by the largest growth-oriented U.S. companies. As of December 31, 2017, the market capitalization of companies included in the Russell 1000 Growth Index ranged from $1.199 billion to $868.880 billion, as calculated by the index provider. The Russell 1000 Growth Index is reconstituted annually. Under normal circumstances, T.

Rowe Price will seek to invest at least 80% of the Sub-strategy's net assets in the common stocks issued by a diversified group of growth companies whose market capitalization is larger than the median market capitalization of companies in the Russell 1000 Growth Index. As of December 31, 2017, the weighted median market capitalization of companies included in the Russell 1000 Growth Index was $11.879 billion. T. Rowe Price will not automatically sell or cease to purchase stocks of a company that the Sub-strategy already holds just because the company's market capitalization falls below that level. Pursuant to the Sub-strategy, T. Rowe Price generally looks for companies with an above-average rate of earnings and cash flow growth and a lucrative niche in the economy that gives them the ability to sustain earnings momentum even during times of slow economic growth.

As growth investors, T. Rowe Price believes that when a company increases its earnings faster than both inflation and the overall economy, the market will eventually reward it with a higher stock price. T. Rowe Price may deviate from these criteria and purchase securities that it believes will provide an opportunity for substantial appreciation. These situations might arise when T. Rowe Price believes a security could increase in value for a variety of reasons, including an extraordinary corporate event, a new product introduction or innovation, a favorable competitive development, or a change in management. T. Rowe Price may sell securities for a variety of reasons, such as to secure gains, limit losses, or redeploy assets into more promising opportunities. Active Large Cap Value : Massachusetts Financial Services Company, doing business as MFS Investment Management (""MFS""), manages the portion of the Fund's assets allocated to the Active Large Cap Value Sub-strategy.

The primary objective for the Sub-strategy is to out-perform the Russell 1000 Value Index over a full market cycle. No assurances can be given that this objective will be achieved. The Russell 1000 Value Index is a free float-adjusted capitalization-weighted index comprised primarily of equity securities issued by the largest value-oriented U.S. companies. As of December 31, 2017, the market capitalization of companies included in the Russell 1000 Value Index ranged from $1.136 billion to $488.982 billion, as calculated by the index provider. The Russell 1000 Value Index is reconstituted annually. Under normal circumstances, MFS will seek to invest the Sub-strategy's assets primarily in the common stocks, preferred stocks and bonds, notes and debentures convertible into common stocks of U.S.

companies ( i.e. , convertible securities). MFS may also invest the Sub-strategy's assets in foreign securities and depositary receipts. MFS focuses on investing the Sub-strategy's assets in the securities of companies that it believes are undervalued compared to their perceived worth (value companies). MFS uses an active bottom-up approach to buying and selling investments for the Sub-strategy. Investments are selected primarily based on fundamental analysis of individual issuers. Quantitative models that systematically evaluate issuers may also be considered. MFS may sell securities for a variety of reasons, such as to secure gains or redeploy assets into opportunities believed to be more promising, among others. Active Large Cap Core #1 : AQR Capital Management, LLC (""AQR"") manages the portion of the Fund's assets allocated to the Active Large Cap Core #1 Sub-strategy.

The primary objective for the Sub-strategy is to out-perform the Russell 1000 Index over a full market cycle. No assurances can be given that this objective will be achieved. The Russell 1000 Index is a free float-adjusted capitalization-weighted index comprised primarily of equity securities issued by the largest U.S. companies. As of December 31, 2017, the market capitalization of companies included in the Russell 1000 Index ranged from $1.136 billion to $868.880 billion, as calculated by the index provider. The Russell 1000 Index is reconstituted annually. Under normal circumstances, AQR will seek to invest the Sub-strategy's assets primarily in equity and equity-related instruments (including, but not limited to, common stocks, preferred stocks, depositary receipts, rights and warrants, ETFs that invest in equity securities and equity index futures contracts).

AQR may use ETFs and futures contracts to gain exposure to the equity market and to maintain liquidity to pay for redemptions. The Sub-strategy's portfolio normally will be managed by both overweighting and underweighting securities relative to the Russell 1000 Index, using AQR's proprietary quantitative return forecasting models and systematic risk-control methods. AQR starts with the securities that are included in the Russell 1000 Index and may augment them with additional securities that are deemed to have similar characteristics. From this investment universe, AQR employs a disciplined approach emphasizing bottom-up security and industry/sector selection decisions. AQR uses a set of value, momentum and other economic factors to generate an investment portfolio based on AQR's security selection procedures.

AQR utilizes portfolio optimization techniques to determine the frequency of trading, taking into account the transaction costs associated with trading each equity instrument. Active Large Cap Core #2 : PanAgora Asset Management, Inc. (""PanAgora"") manages the portion of the Fund's assets allocated to the Active Large Cap Core #2 Sub-strategy. The primary objective for the Sub-strategy is to out-perform the Russell 1000 Index over a full market cycle. No assurances can be given that this objective will be achieved. The Russell 1000 Index is a free float-adjusted capitalization-weighted index comprised primarily of equity securities issued by the largest U.S. companies.

KPLCX Performance

Total returns for KPLCX (as of 2026-10-01), from SEC filings.

KPLCX Risk Information

Risk metrics for KPLCX, derived from monthly returns in SEC filings.

• 1-year volatility (annualised): 23.7%

KPLCX Costs and Fees

KPLCX costs about $30 per $10,000 invested per year in fund expenses.

• Net expense ratio: 0.30%
• Gross expense ratio: 0.30%
• Portfolio turnover: 45%
• Brokerage commissions: 0.75 bps of average net assets (SEC N-CEN)

KPLCX Cashflows

Over the 12 months to 2020-09, KP Large Cap Equity Fund had net inflows of $1.33B, from monthly SEC N-PORT filings.

KPLCX Debt Constituents

No individual debt constituents are reported in KP Large Cap Equity Fund's latest SEC N-PORT filing.

KPLCX Prospectus and SEC Filings

Official KP Large Cap Equity Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.

• Prospectus (485BPOS) — filed 2020-05-14
• Prospectus (485BPOS) — filed 2019-05-14
• Prospectus supplement (497) — filed 2020-06-01
• Portfolio holdings (N-PORT) — filed 2020-11-25
• Portfolio holdings (N-PORT) — filed 2020-08-26
• Portfolio holdings (N-PORT) — filed 2020-05-29
• Annual census (N-CEN) — filed 2020-03-16
• Annual census (N-CEN) — filed 2019-03-14

Related Funds

Other Capital Appreciation / Growth Allocation funds tracked on ABC INVEST:

• Catalyst/Millburn Hedge Strategy Fund (MBXAX)
• Roundhill Magnificent Seven ETF (MAGS)
• SPDR Bridgewater All Weather ETF (ALLW)
• Capital Appreciation Value Fund (JCAVX)
• Goldman Sachs Growth Strategy Portfolio (GGSIX)

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.