LONGX Fees and Costs — Longboard Fund, Class I
Data updated: 2026-09-28
The net expense ratio is 1.99%. There are no sales loads or redemption fees. In fiscal 2026 the fund paid $47K in broker commissions, 0.0389% of average net assets, and portfolio turnover was 116%.
LONGX Fees and Expenses
Annual operating expenses and sales charges of LONGX. Prospectus, as of September 28, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 1.99% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.00% |
| Gross expense ratio | 1.99% |
| Fee waiver | — |
| Net expense ratio | 1.99% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | 0.00% |
| Redemption fee | 0.00% |
| Expense limitation in place (N-CEN) | No |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | No |
LONGX Costs Over Time
On $10,000 invested in LONGX, assuming 5% a year before costs, total costs come to $1,243 over 5 years, cutting the return by 2.13% 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 1.99%) | $209 | $645 | $1,106 |
| Trading costs (broker commissions) | $4 | $13 | $22 |
| Lost growth on money paid in costs | $0 | $33 | $115 |
| Total costs | $213 | $690 | $1,243 |
| Value after costs | $10,287 | $10,886 | $11,520 |
| Impact on return, per year | 2.13% | 2.13% | 2.13% |
LONGX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending May 31, 2026.
- Explicit cost rate (commissions ÷ average net assets): 0.0389%
- Total broker commissions: $47K
- Bought from dealers (principal trades, not a cost): $138.9M
- Portfolio turnover (prospectus): 116%
- Securities lending: none during the year
LONGX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Scotiabank | $47K | 100.00% |
LONGX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| U.S. Bancorp Investments, Inc. | $138.9M | 100.00% |
Longboard Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| LONGX | Class I | 1.99% | none |
| LONAX | Class A | 2.24% | 5.75% |
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.