VALLX Fees and Costs — Value Line Larger Companies Focused Fund, Inc., Investor Class
Data updated: 2026-09-25
The net expense ratio is 1.13%: a 0.73% management fee, a 0.25% 12b-1 fee plus 0.15% other expenses. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $27K in broker commissions, 0.0065% of average net assets, and portfolio turnover was 38%.
VALLX Fees and Expenses
Annual operating expenses and sales charges of VALLX. Prospectus, as of September 25, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.73% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.15% |
| Gross expense ratio | 1.13% |
| Fee waiver | — |
| Net expense ratio | 1.13% |
| 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 | Yes |
VALLX Costs Over Time
On $10,000 invested in VALLX, assuming 5% a year before costs, total costs come to $709 over 5 years, cutting the return by 1.19% 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 1.13%) | $119 | $370 | $640 |
| Trading costs (broker commissions) | $1 | $2 | $4 |
| Lost growth on money paid in costs | $0 | $18 | $65 |
| Total costs | $119 | $390 | $709 |
| Value after costs | $10,381 | $11,186 | $12,054 |
| Impact on return, per year | 1.19% | 1.19% | 1.19% |
VALLX 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): 0.0065%
- Total broker commissions: $27K
- Bought from dealers (principal trades, not a cost): $157.0M
- Portfolio turnover (prospectus): 38%
- Securities on loan, average value: $29.1M
- Net income from securities lending: $37K (0.009% of average net assets)
VALLX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| BNY Capital Markets, LLC | $15K | 56.20% |
| William Blair & Company, L.L.C. | $7K | 25.05% |
| Goldman Sachs & Co. LLC | $4K | 15.78% |
| State Street Global Markets, LLC | $772 | 2.89% |
| Nomura Securities International, Inc. | $22 | 0.08% |
VALLX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| State Street Bank and Trust Company | $157.0M | 100.00% |
Value Line Larger Companies Focused Fund, Inc. Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| VLLIX | Institutional Class | 0.88% | — |
| VALLX | Investor Class | 1.13% | — |
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.