BFOCX Fees and Costs — Berkshire Focus Fund
Data updated: 2026-08-31
The net expense ratio is 1.95%: a 1.50% management fee plus 0.45% other expenses. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $1.4M in broker commissions, 0.4786% of average net assets, and portfolio turnover was 1599%.
BFOCX Fees and Expenses
Annual operating expenses and sales charges of BFOCX. Prospectus, as of May 1, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 1.50% |
| 12b-1 fee | — |
| Other expenses | 0.45% |
| Gross expense ratio | 1.95% |
| Fee waiver | — |
| Net expense ratio | 1.95% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | 0.00% |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | No |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | No |
BFOCX Costs Over Time
On $10,000 invested in BFOCX, assuming 5% a year before costs, total costs come to $1,476 over 5 years, cutting the return by 2.55% 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 1.95%) | $205 | $629 | $1,075 |
| Trading costs (broker commissions) | $50 | $154 | $264 |
| Lost growth on money paid in costs | $0 | $39 | $137 |
| Total costs | $255 | $823 | $1,476 |
| Value after costs | $10,245 | $10,753 | $11,286 |
| Impact on return, per year | 2.55% | 2.55% | 2.55% |
BFOCX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.4786%
- Total broker commissions: $1.4M
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 1599%
- Securities lending: none during the year
BFOCX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| INTL FILLMORE ADVISORS LLC | $1.4M | 100.00% |
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 Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date.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.