BBTLX Fees and Costs — Bridge Builder Tax Managed Large Cap Fund
Data updated: 2026-09-11
The net expense ratio is 0.23%: a 0.44% management fee plus 0.02% other expenses, less a 0.23% fee waiver. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $373K in broker commissions, 0.0050% of average net assets, and portfolio turnover was 31%.
BBTLX Fees and Expenses
Annual operating expenses and sales charges of BBTLX. Prospectus, as of June 30, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.44% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.02% |
| Gross expense ratio | 0.46% |
| Fee waiver | −0.23% |
| Net expense ratio | 0.23% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | No |
BBTLX Costs Over Time
On $10,000 invested in BBTLX, assuming 5% a year before costs, total costs come to $149 over 5 years, cutting the return by 0.25% a year. Illustration, not a forecast: it assumes today's net expense ratio throughout (a fee waiver may end).
| $10,000 invested | Sell after 1 year | Sell after 3 years | Sell after 5 years |
|---|---|---|---|
| Value before costs | $10,500 | $11,576 | $12,763 |
| Fund expenses (net expense ratio 0.23%) | $24 | $76 | $133 |
| Trading costs (broker commissions) | $1 | $2 | $3 |
| Lost growth on money paid in costs | $0 | $4 | $14 |
| Total costs | $25 | $81 | $149 |
| Value after costs | $10,475 | $11,495 | $12,614 |
| Impact on return, per year | 0.25% | 0.25% | 0.25% |
BBTLX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending June 30, 2026.
- Explicit cost rate (commissions ÷ average net assets): 0.0050%
- Total broker commissions: $373K
- Bought from dealers (principal trades, not a cost): $2.3B
- Portfolio turnover (prospectus): 31%
- Securities lending: none during the year
BBTLX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| PIPER JAFFRAY & CO. | $90K | 25.18% |
| LOOP CAPITAL MARKETS, LLC | $58K | 16.24% |
| CANACCORD GENUITY WEALTH MANAGEMENT (USA) INC. | $49K | 13.70% |
| Jefferies LLC | $46K | 12.91% |
| LIQUIDNET INC. | $41K | 11.37% |
| MERRILL LYNCH, PIERCE, FENNER & SMITH INC. | $22K | 6.15% |
| UBS Securities LLC | $18K | 5.03% |
| FIDELITY MANAGEMENT & RESEARCH COMPANY | $17K | 4.72% |
| OPPENHEIMER & CO. INC. | $9K | 2.63% |
| STONEX FINANCIAL INC. | $7K | 2.08% |
BBTLX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| BROWN BROTHERS HARRIMAN INVESTMENTS, LLC | $2.3B | 99.30% |
| STONEX FINANCIAL INC. | $16.0M | 0.70% |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.