Calamos Phineus Long Short Fund Class A
CPLSX
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- Calamos Phineus Long/Short Fund Class A (CPLSX) is an open-end mutual fund that seeks strong risk-adjusted and absolute returns across the global equity universe through a long/short equity strategy focused on publicly listed equity securities, including common stocks and American Depositary Receipts (ADRs), of issuers across all market capitalizations; the fund invests primarily in knowledge-based sectors such as technology, communications and media, financial services, and healthcare, as well as other investment companies including exchange-traded funds (ETFs) that provide exposure to such sectors; it takes long positions in companies expected to outperform equity markets and short positions in those expected to underperform or for hedging purposes, targeting returns in both rising and falling markets with reduced volatility exposure. The fund offers Class A shares (CPLSX) with a front-end sales load of 4.75%, alongside Class C (CPCLX) and Class I (CPLIX) shares; it maintains typical holdings of around 64 positions, with current delta-adjusted exposures including 87.4% long, -58.5% short, 145.9% gross, and 28.9% net, emphasizing overweight sectors like industrials (38.6%), information technology (15.1%), and consumer discretionary (10.0%), with primary regional focus on North America (21.0%) and Europe (7.9%); managed by Michael Grant since inception, the strategy employs a blend of bottom-up fundamental analysis and top-down macroeconomic considerations. Launched on April 6, 2016, through the reorganization of a predecessor hedge fund managed by Phineus Partners LP—which traces its strategy inception to June 1, 2002—the fund is advised by Calamos Advisors LLC, a subsidiary of Calamos Investments LLC founded in 1977 and headquartered in Naperville, Illinois; performance prior to April 6, 2016, reflects the predecessor fund adjusted for current share class expenses, with total net assets of approximately $1.1 billion for CPLIX and strategy assets of $1.5 billion across vehicles including separately managed accounts. Recent developments include strong year-to-date performance through Q3 2025, with Class I shares at NAV up 11.36% amid market volatility, driven by long positions in industrials benefiting from data center expansion and reduced exposure to high-momentum mega-caps amid AI bubble concerns; in Q2 2025, the fund rose 8.93% versus the S&P 500's 10.6%; broader Calamos Investments expansions, such as the July 2025 launch of the Calamos Aksia Private Equity & Alternatives Fund (CAPVX) in partnership with Aksia and leadership team growth supporting $46 billion AUM as of September 30, 2025, underscore ongoing strategic enhancements in alternatives without direct impact on CPLSX operations.