WGNIX Fees and Costs — Pabrai Wagons Fund, Institutional Class
Data updated: 2026-02-18
The net expense ratio is 0.90%. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $105K in broker commissions, 0.2093% of average net assets, and portfolio turnover was 69%.
WGNIX Fees and Expenses
Annual operating expenses and sales charges of WGNIX. Prospectus, as of February 9, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.90% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.00% |
| Gross expense ratio | 0.90% |
| Fee waiver | — |
| Net expense ratio | 0.90% |
| 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 |
WGNIX Costs Over Time
On $10,000 invested in WGNIX, assuming 5% a year before costs, total costs come to $692 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 0.90%) | $94 | $295 | $510 |
| Trading costs (broker commissions) | $22 | $68 | $119 |
| Lost growth on money paid in costs | $0 | $18 | $64 |
| Total costs | $116 | $381 | $692 |
| Value after costs | $10,384 | $11,195 | $12,070 |
| Impact on return, per year | 1.16% | 1.16% | 1.16% |
WGNIX 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
WGNIX 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% |
WGNIX 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.