BBVLX Fees and Costs — Bridge Builder Large Cap Value Fund
Data updated: 2026-09-11
The net expense ratio is 0.23%: a 0.44% management fee plus 0.01% other expenses, less a 0.23% fee waiver. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $6.7M in broker commissions, 0.0254% of average net assets, and portfolio turnover was 29%.
BBVLX Fees and Expenses
Annual operating expenses and sales charges of BBVLX. Prospectus, as of June 30, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.44% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.01% |
| 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 |
BBVLX Costs Over Time
On $10,000 invested in BBVLX, assuming 5% a year before costs, total costs come to $162 over 5 years, cutting the return by 0.27% 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) | $3 | $8 | $15 |
| Lost growth on money paid in costs | $0 | $4 | $15 |
| Total costs | $27 | $88 | $162 |
| Value after costs | $10,473 | $11,488 | $12,601 |
| Impact on return, per year | 0.27% | 0.27% | 0.27% |
BBVLX 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): 0.0254%
- Total broker commissions: $6.7M
- Bought from dealers (principal trades, not a cost): $12.9B
- Portfolio turnover (prospectus): 29%
- Securities lending: none during the year
BBVLX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| PIPER JAFFRAY & CO. | $1.2M | 25.13% |
| MORGAN STANLEY & CO. LLC | $640K | 13.30% |
| INSTINET, LLC | $596K | 12.38% |
| MERRILL LYNCH, PIERCE, FENNER & SMITH INC. | $526K | 10.93% |
| Goldman Sachs & Co, LLC | $429K | 8.92% |
| LIQUIDNET INC. | $337K | 7.00% |
| Citigroup Global Markets Inc. | $287K | 5.97% |
| UBS Securities LLC | $281K | 5.84% |
| Wells Fargo Securities LLC | $255K | 5.30% |
| Jefferies LLC | $253K | 5.25% |
BBVLX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| BROWN BROTHERS HARRIMAN INVESTMENTS, LLC | $12.0B | 93.05% |
| MORGAN STANLEY & CO. LLC | $520.2M | 4.04% |
| Goldman Sachs & Co, LLC | $153.7M | 1.19% |
| MERRILL LYNCH, PIERCE, FENNER & SMITH INC. | $136.5M | 1.06% |
| BARCLAYS CAPITAL INC. | $82.8M | 0.64% |
| STATE STREET GLOBAL MARKETS, LLC | $1.8M | 0.01% |
| BNP Paribas Securities Corp. | $1K | 0.00% |
| UBS Securities LLC | $937 | 0.00% |
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.