Fund Evaluator:
NorthQuest Capital (NQCFX)
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Best Performing in Large Growth Over the Last Year
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Fund Details
NorthQuest Capital Overview
NorthQuest Capital (NQCFX) is an actively managed U.S. Equity Large Growth fund. NorthQuest Fund launched the fund in 2002.
The investment seeks long-term capital appreciation and secondarily earn dividend income. The fund invests in small, large and mid-capitalization companies whose stock prices are considered by the fund's advisor to be undervalued. Undervalued stocks are generally those with a low share price when measured against the value of the total company. It seeks to invest in companies that have adequate free cash flow to pay a dividend and consistently increase their dividends on an annual basis. The fund is non-diversified.
About NorthQuest Capital (NQCFX)
There are 1 members of the management team with an average tenure of 24.56 years: Peter Lencki (2002). Management tenure is more important for actively managed funds than passive index funds.
The fund has 1 primary benchmark: S&P 500 (TR) (1970) index with a weighting of 100%. NorthQuest Capital has 21 securities in its portfolio. The top 10 holdings constitute 61.6% of the fund’s assets. The fund meets the SEC requirement of being classified as a nondiversified fund. The fund is not considered to have an ESG focus with its investment selection and management.
NorthQuest Capital is part of the Equity global asset class and is within the U.S. Equity fund group. NorthQuest Capital has 0.0% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 99.4%. There is 0.0% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). NorthQuest Capital has 0.6% of the portfolio in cash.
Assets Under Management
The fund has $11 million in total assets, which is below the $2 billion average for the Large Growth category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
NQCFX Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The NorthQuest Capital expense ratio is high compared to funds in the Large Growth category. NorthQuest Capital has an expense ratio of 1.40%, which is 46% higher than its category average, making the fund expense ratio grade a F. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. NorthQuest Capital has a portfolio turnover rate of 11%, indicating that holds its assets around 0.1 years. By way of comparison, the average portfolio turnover is 54% for the Large Growth category.
Recently, in the month of July 2026, NorthQuest Capital returned -5.2%, which earned it a grade of D, as the Large Growth category had an average return of -3.1%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all funds in that category.
NorthQuest Capital has a trailing yield of 0.00%, which is below the 0.06% category average. The fund normally distributes its income annually and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
NorthQuest Capital Grades
Year to date, the fund has returned 17.3%, 13.6 percentage points better than the category, which translates into a grade of A. The fund has returned 21.4% over the past year (grade of A), 15.1% over the past three years (grade of D) and 8.6% per year over the past five years (grade of C) and 13.5% per year over the past 10 years (grade of F).
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NQCFX Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| NQCFX Return (NAV) | -5.2% | 5.7% | 21.4% | 15.1% | 8.6% | 13.5% |
| NQCFX Grade | D | A | A | D | C | F |
| +/- Category | -2.1% | 4.0% | 12.3% | -3.0% | -0.0% | -1.9% |
| Large Growth Avg | -3.1% | 1.7% | 9.1% | 18.1% | 8.7% | 15.4% |
| NQCFX Tax Cost Ratio | na | na | 0.4% | 0.6% | 0.7% | 1.2% |
NQCFX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| NQCFX Return (NAV) | 17.3% | 10.9% | 12.7% | 27.3% | -26.1% | 32.6% | 19.7% | 35.8% | -2.3% | 22.7% | 11.2% |
| NQCFX Grade | A | F | F | F | A | A | F | B | D | F | A |
| +/- Category | 13.6% | -4.8% | -17.0% | -11.6% | 6.0% | 12.2% | -22.6% | 2.6% | -1.7% | -7.1% | 8.4% |
| Large Growth Avg | 3.7% | 15.7% | 29.7% | 38.9% | -32.1% | 20.4% | 42.3% | 33.2% | -0.7% | 29.8% | 2.7% |
| Risk Measures | |
| Standard Deviation: | 15.5% |
| Total Risk Index: | 1.26 - Above Average |
| Category Risk Index: | 0.87 - Low |
| Category Risk Grade: | A (19% Rank) |
| Beta: | 1.04 |
| R-Squared: | 77% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Large-Cap Growth |
| Bond Investment Style: | na |
| Yield: | 0.0% |
| Dividend Distribution: | Annually |
| Cap Gains Distribution: | Annually |
| Total Assets: | $11 Mil |
| Fund Total Assets: | $ 11 Mil |
| Share Class Type: | Other |
| Portfolio Turnover: | 12% |
Management Team
| Number of Managers: 1 | |||
| Longest Tenure: 24.6 years | |||
| Average Tenure: 24.6 years | |||
| Managers (Year): Lencki Peter (2002) | |||
Portfolio Composition (as of 3/31/26)
| # of Holdings: | 21 |
| % in Top 10 Holdings: | 61.6% |
| Fund is Non-Diversified: | Yes |
| % in Foreign Issues: | 0.0% |
Portfolio Allocation |
|
| Domestic Stock: | 99.4% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 0.6% |
Purchase Information
| Fund Family: | NorthQuest Fund |
| Phone Number: | 800-239-9136 |
| Website: | www.northquestfund.com |
| Status: | Open |
| Inception Date: | January 15, 2002 |
| Min. Initial Purchase: | $1,000 |
| Min. Initial IRA Purchase: | $ 0 |
| True No-Load: | Yes |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | na |
Expenses and Fees | |
| Expense Ratio (%): | 1.40% ( Rating : High ) |
| Category Average Expense Ratio (%): | 0.96% |
| Share Class: | NorthQuest Capital |
| Min. Subsequent Purchase: | $ 100 |
| Min. Subsequent IRA Purchase: | $ 0 |
