LLINX Fees and Costs — Longleaf Partners International Fund
Data updated: 2025-11-26
The net expense ratio is 1.05%: a 1.04% management fee plus 0.17% other expenses, less a 0.16% fee waiver. There are no sales loads or redemption fees. In fiscal 2024 the fund paid $365K in broker commissions, 0.0512% of average net assets, and portfolio turnover was 39%.
LLINX Fees and Expenses
Annual operating expenses and sales charges of LLINX. Prospectus, as of April 30, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 1.04% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.17% |
| Gross expense ratio | 1.21% |
| Fee waiver | −0.16% |
| Net expense ratio | 1.05% |
| 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 |
LLINX Costs Over Time
On $10,000 invested in LLINX, assuming 5% a year before costs, total costs come to $687 over 5 years, cutting the return by 1.16% 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 1.05%) | $110 | $344 | $595 |
| Trading costs (broker commissions) | $5 | $17 | $29 |
| Lost growth on money paid in costs | $0 | $18 | $63 |
| Total costs | $116 | $378 | $687 |
| Value after costs | $10,384 | $11,198 | $12,075 |
| Impact on return, per year | 1.16% | 1.16% | 1.16% |
LLINX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2024.
- Explicit cost rate (commissions ÷ average net assets): 0.0512%
- Total broker commissions: $365K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 39%
- Securities lending: none during the year
LLINX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Jeffries & Company | $42K | 29.84% |
| Liquidnet, Inc. | $28K | 19.58% |
| UBS Securities, LLC | $19K | 13.47% |
| Morgan Stanley | $14K | 10.19% |
| Instinet, LLC | $11K | 8.00% |
| Goldman Sachs & Co. | $7K | 4.74% |
| UBS AG | $7K | 4.70% |
| Barclays Capital Inc. | $5K | 3.77% |
| Sanford C. Bernstein & Co., LLC | $4K | 3.10% |
| Shorebridge Capital Securities | $4K | 2.61% |
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.