WAGNX Fees and Costs — Pabrai Wagons Fund, Retail Class
Data updated: 2026-02-18
The net expense ratio is 1.25%: a 0.90% management fee, a 0.25% 12b-1 fee plus 0.69% other expenses, less a 0.59% fee waiver. This share class carries a redemption fee of 1.00%. In fiscal 2025 the fund paid $105K in broker commissions, 0.2093% of average net assets, and portfolio turnover was 69%.
WAGNX Fees and Expenses
Annual operating expenses and sales charges of WAGNX. Prospectus, as of October 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.90% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.69% |
| Gross expense ratio | 1.84% |
| Fee waiver | −0.59% |
| Net expense ratio | 1.25% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | 1.00% |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | Yes |
WAGNX Costs Over Time
On $10,000 invested in WAGNX, assuming 5% a year before costs, total costs come to $904 over 5 years, cutting the return by 1.53% 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 1.25%) | $131 | $408 | $703 |
| Trading costs (broker commissions) | $22 | $68 | $118 |
| Lost growth on money paid in costs | $0 | $24 | $83 |
| Total costs | $153 | $499 | $904 |
| Value after costs | $10,347 | $11,077 | $11,858 |
| Impact on return, per year | 1.53% | 1.53% | 1.53% |
WAGNX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending June 30, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.2093%
- Total broker commissions: $105K
- Bought from dealers (principal trades, not a cost): $74K
- Portfolio turnover (prospectus): 69%
- Securities lending: none during the year
WAGNX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| UBS FINANCIAL SERVICES INC. | $67K | 64.20% |
| KOTAK MAHINDRA, INC. | $18K | 17.03% |
| AK YATIRIM MENKUL DEGERLER A.S. | $15K | 14.50% |
| JEFFERIES LLC | $4K | 4.05% |
| CITIGROUP GLOBAL MARKETS INC. | $231 | 0.22% |
WAGNX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| UBS FINANCIAL SERVICES INC. | $74K | 100.00% |
Pabrai Wagons Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| WGNIX | Institutional Class | 0.90% | — |
| WAGNX | Retail Class | 1.25% | — |
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.