ORLCX — North Square Multi Strategy Fund
Data updated: 2026-09-25
ORLCX — North Square Multi Strategy Fund. United States Multi-Cap / All-Cap Blend / Core Equity · $39.11M AUM. Holdings, fees, performance and SEC filings.
ORLCX Fund Overview
ORLCX — North Square Multi Strategy Fund is a US mutual fund managed by Exchange Place Advisors Trust, categorised as United States Multi-Cap / All-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: Exchange Place Advisors Trust
- Category: United States Multi-Cap / All-Cap Blend / Core Equity
- Assets under management: $39.11M
- Ticker: ORLCX
- SEC CIK: 0001750821
- SEC series ID: S000063487
- Share class ID: C000205682
ORLCX Investment Objective and Strategy
North Square Multi Strategy Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Exchange Place Advisors Trust.
Investment objective
The investment objective of the North Square Multi Strategy Fund (the ?Fund?) is to provide capital appreciation.
Principal investment strategy
In seeking to achieve the Fund?s investment objective, the Adviser has selected CSM Advisors, LLC (the ?Sub-Adviser?), an affiliate of, and under common control with, the Adviser, to serve as the Fund?s investment sub-adviser and allocates the Fund?s assets to the Sub-Adviser. The Adviser retains the ability to manage all or a portion of the Fund?s assets directly. The Fund is a ?fund of funds? that seeks to achieve its investment objective by primarily investing in other mutual funds (?underlying funds?). The Fund invests primarily in mutual funds managed by North Square, the Fund?s investment adviser, but may also invest in unaffiliated mutual funds or exchange-traded funds (?ETFs?) to gain exposure to asset classes not available through a fund managed by the Adviser. In addition, the Fund may also invest directly in securities when the Sub-Adviser believes doing so is more likely to increase yield or enhance returns than investing in underlying funds.
The Fund is a multi-strategy fund that will invest directly or indirectly through underlying funds in the following asset classes: ? Equity securities of U.S. and foreign companies (including emerging market companies) of any market capitalization, including common stock, preferred stock, warrants, rights and initial public offerings (?IPOs?). Exposure to equity securities of foreign companies may be through American and Global Depositary Receipts (?ADRs? and ?GDRs?). ? Fixed income securities of U.S. and foreign issuers (including emerging market issuers) of any maturity and credit quality, including high-yield debt securities (often called ?junk bonds?), investment grade debt securities, mortgage-related and other asset-backed securities, municipal bonds, U.S. government securities, convertible securities, bank loans, inflation-linked investments and cash equivalents.
As part of the Sub-Adviser?s multi-strategy investment process, the Fund?s investments are allocated among underlying funds based on an evaluation of three strategies: strategic asset allocation (generally, the weighting of allocations among broad asset classes to seek to capture market returns), tactical asset allocation (generally, the weighting of allocations to various sub-categories within broad asset classes to seek to add value relative to the general strategic allocations) and fund selection. Fund assets are invested in underlying funds with equity exposure across the small to large capitalization range, as well as across value and growth styles as well as core or blend styles which exhibit both growth and value characteristics. Fund assets may also be invested in underlying funds with exposure to fixed income securities issued by a variety of issuers and across a range of maturities and credit quality.
Broad economic and market factors, as well as diversification and risk management, are considered in assessing the strategic and tactical components of the allocation. The analysis in selecting underlying funds includes an assessment of a fund?s past performance, volatility and other risk characteristics, and correlation with other funds and benchmarks. It also includes an assessment of the underlying fund?s investment strategies, investment process and portfolio management team. The Fund does not have target ranges for the allocation of assets among asset classes or individual underlying funds and there is no maximum or minimum exposure that the Fund must maintain with respect to any asset class. Accordingly, the Fund?s exposure to different asset classes and underlying funds will be adjusted to take advantage of current or expected market conditions, or to manage risk.
From time to time, the Fund may own a majority of the shares of an underlying fund managed by the Adviser. As of the date of this prospectus, the Fund intends to allocate substantially all of its assets among the North Square Dynamic Small Cap Fund, North Square Altrinsic International Equity Fund and North Square Preferred and Income Securities Fund, and expects to invest 25% or more of its assets in the North Square Dynamic Small Cap Fund and North Square Preferred and Income Securities Fund.
ORLCX Holdings
Top 10 holdings of North Square Multi Strategy Fund by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| Exchange Place Advisors Trust | 15.99% |
| Vanguard Specialized Funds | 12.24% |
| Vanguard Index Funds | 11.64% |
| Exchange Place Advisors Trust | 11.60% |
| Exchange Place Advisors Trust | 11.04% |
| Exchange Place Advisors Trust | 8.01% |
| Vanguard Index Funds | 6.76% |
| Ishares Trust | 5.41% |
| Invesco Exchange Traded Fund Trust | 4.15% |
| Exchange Place Advisors Trust | 3.48% |
ORLCX Portfolio Allocation
Asset-class allocation of North Square Multi Strategy Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Equity | 99.0% |
| Cash & Equivalents | 1.0% |
ORLCX Costs and Fees
ORLCX costs about $228 per $10,000 invested per year in fund expenses.
- Net expense ratio: 2.28%
- Gross expense ratio: 2.09%
- Portfolio turnover: 16%
- Brokerage commissions: 0.19 bps of average net assets (SEC N-CEN)
ORLCX Cashflows
Over the 12 months to 2026-05, North Square Multi Strategy Fund had net outflows of $1.12M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2026-05 | −$329.64K |
| 2026-04 | −$539.73K |
| 2026-03 | −$473.38K |
| 2026-02 | −$653.55K |
| 2026-01 | −$585.25K |
| 2025-12 | $3.26M |
ORLCX Debt Constituents
No individual debt constituents are reported in North Square Multi Strategy Fund's latest SEC N-PORT filing.
ORLCX Prospectus and SEC Filings
Official North Square Multi Strategy Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2026-09-25
- Prospectus (485BPOS) — filed 2025-09-26
- Prospectus (485BPOS) — filed 2024-09-27
- Portfolio holdings (N-PORT) — filed 2026-07-21
- Portfolio holdings (N-PORT) — filed 2026-04-27
- Portfolio holdings (N-PORT) — filed 2026-01-27
- Annual census (N-CEN) — filed 2026-08-10
- Annual census (N-CEN) — filed 2025-08-14
Related Funds
Other United States Multi-Cap / All-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.