PEQNX Fees and Costs — Putnam Large Cap Value Fund, CL B
Data updated: 2026-09-25
The net expense ratio is 1.65%: a 0.47% management fee, a 1.00% 12b-1 fee plus 0.18% other expenses. This share class carries a deferred sales charge of up to 5.00%. In fiscal 2025 the fund paid $8.2M in broker commissions, 0.0219% of average net assets, and portfolio turnover was 18%.
PEQNX Fees and Expenses
Annual operating expenses and sales charges of PEQNX. Prospectus, as of February 29, 2024.
| Annual operating expenses | |
|---|---|
| Management fee | 0.47% |
| 12b-1 fee | 1.00% |
| Other expenses | 0.18% |
| Gross expense ratio | 1.65% |
| Fee waiver | — |
| Net expense ratio | 1.65% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | 5.00% |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | No |
| Waived fees subject to recoupment | No |
PEQNX Costs Over Time
On $10,000 invested in PEQNX, assuming 5% a year before costs, total costs come to $1,032 over 5 years, cutting the return by 1.76% 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 |
| Sales charges | $516 | $0 | $0 |
| Fund expenses (net expense ratio 1.65%) | $173 | $537 | $924 |
| Trading costs (broker commissions) | $2 | $7 | $12 |
| Lost growth on money paid in costs | $0 | $27 | $95 |
| Total costs | $692 | $571 | $1,032 |
| Value after costs | $9,808 | $11,005 | $11,731 |
| Impact on return, per year | 6.92% | 1.76% | 1.76% |
PEQNX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending October 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0219%
- Total broker commissions: $8.2M
- Bought from dealers (principal trades, not a cost): $478.4B
- Portfolio turnover (prospectus): 18%
- Securities on loan, average value: $29.5M
- Net income from securities lending: $67K (0.000% of average net assets)
PEQNX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| BofA Securities, Inc. | $1.2M | 17.94% |
| Goldman Sachs & Co. LLC | $1.2M | 17.58% |
| J.P. Morgan Securities LLC | $986K | 14.57% |
| RBC Capital Markets, LLC | $792K | 11.71% |
| Citigroup Global Markets Inc. | $691K | 10.21% |
| JonesTrading Institutional Services LLC | $520K | 7.69% |
| UBS Securities LLC | $513K | 7.59% |
| Piper Sandler & Co. | $342K | 5.06% |
| Stifel, Nicolaus & Company, Incorporated | $282K | 4.18% |
| Barclays Capital, Inc. | $234K | 3.46% |
PEQNX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $151.7B | 32.53% |
| HSBC Securities (USA) Inc. | $75.2B | 16.13% |
| Barclays Capital, Inc. | $74.3B | 15.93% |
| Bank of Montreal | $57.8B | 12.38% |
| RBC Capital Markets, LLC | $44.4B | 9.51% |
| Citigroup Global Markets Inc. | $29.8B | 6.40% |
| BofA Securities, Inc. | $21.4B | 4.59% |
| BNP Paribas Securities Corp. | $6.9B | 1.48% |
| Goldman Sachs & Co. LLC | $2.8B | 0.61% |
| Australia and New Zealand Banking Group Limited | $2.0B | 0.44% |
Putnam Large Cap Value Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| C000118172 | Class R6 | 0.52% | none |
| PEIYX | CL Y | 0.60% | none |
| C000118171 | Class R5 | 0.62% | none |
| PEYAX | CL A | 0.85% | 5.75% |
| PEQRX | Class R | 1.10% | none |
| PEQCX | CL C | 1.60% | none |
| PEQNX | CL B | 1.65% | none |
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.