CAZ GP Stakes Fund
Data through 2026-03-31 · latest filing 486BPOS filed 2026-07-27
Sponsored by CAZ Investments. Interval Fund structure focused on GP Stakes.
Interval FundSpecialty: GP Stakes
- Net assets
- $150.8M
source
Shareholder report (Form N-CSR) · filed 2026-06-08 · period 2026-03-31
Statement of Assets and Liabilities fund-level identity (Total assets - Total liabilities [- Preferred Shares] = Net Assets; no per-class breakdown template matched this filer agent)
“STATEMENT OF ASSETS AND LIABILITIES March 31, 2026 Assets Investments in securities: Investments at cost $ 153,226,105 Investments at value $ 150,107,258 Cash 560,408 Foreign currency (cost $2,233,673) 2,214,438 Deferred offering costs (Note 4) 346,901 Receivable for capital shares sold 280,000 Dividends and interest receivable 240,427 Prepaid expenses 1,087 Total Assets 153,750,519 Liabilities Written put options, at value (Notes 2 & 5) (premiums received $2,406,673) 1,662,455 Payable for investment securities purchased 363,465 Offering costs payable (Note 4) 320,402 Organization costs payable (Note 4) 283,449 Accrued professional fees 133,667 Payable to Adviser (Note 4) 53,348 Payable to administrator (Note 4) 50,416 Current tax liability (Note 2) 7,360 Other accrued expenses 43,479 Total Liabilities 2,918,041 Contingencies and Commitments (Note 7) Net Assets $ 150,832,478”
Method Matched text template against the filing
Open the filing on SEC.gov · Full observation history
Technical locator
as of 2026-03-31 - NAV / share
- Not yet compiled Not yet compiled
- Net flows, last qtr
- +101.4% qtr ended 2026-03-31
- Distribution coverage
- Not reported Distributions in this asset class are episodic and realization-driven.
- Leverage in use
- Not yet compiled Not yet compiled
- Total return, 12m
- Not yet compiled Not yet compiled
What changed in the latest filings.
Current findings ordered by severity. Each observation remains traceable to its filed source.
A fee waiver; it expires July 29, 2027.
A fee waiver; it expires July 29, 2027.
Why it matters and what changed
A dated fee waiver is now within six months of expiry. If it is not extended, the expense increase lands on shareholders; extensions are usually disclosed via a short 8-K or prospectus supplement, so silence approaching the date is itself information.
First occurrence; no comparative values apply to this rule type.
Source: https://www.sec.gov/Archives/edgar/data/2079872/000121390026081854/ea0298821-01_486bpos.htm | Summary of Fees and Expenses p24 footnote 7 and fee table Fee Waiver and/or Expense Reimbursement row, which prints (0.20) percent for Class E only; the reimbursement rises to 0.30 percent and 0.40 percent at higher Class E net asset levels
How the fund has moved.
Net asset value, total return, capital flows, and distribution coverage across the filing record.
Filed performance history
Not yet compiled. no cached SEC filing yielded a return with an exact window, basis label, and the audited class scope
What moved inside the book.
Filed portfolio-health facts and position changes. Missing disclosures stay visibly missing.
Not yet compiled
Where exit demand met the cap.
A 2.00% early repurchase fee payable to the Fund will be charged with respect to the repurchase of an investor's Shares at any time prior to the day immediately preceding the one-year anniversary of an investor's purchase of the Shares (on a "first in-first out" basis). The Early Repurchase Fee payable by a Shareholder may be waived by the Fund in circumstances where the Board determines that doing so is in the best interests of the Fund, including in the case of repurchase requests: (i) submitted by model or programmatic portfolio management programs (including wrap accounts and similar arrangements) and qualified retirement plans; (ii) in circumstances as may be provided for with Board approval; (iii) as may be required by applicable law or regulation and (iv) in certain other limited circumstances. The early repurchase fee will be retained by the Fund for the benefit of the remaining investors.
Not yet compiled
How the balance sheet is funded.
Borrowings, unused capacity, and synthetic exposure are separated so unlike risks do not collapse into one ratio.
Not yet compiled
How the offering is divided.
A filed share-class breakdown and terms-based role descriptions. This is not an estimate of who owns the fund.
Who can invest: No investor qualification is stated in the prospectus. 486BPOS filed 2026-07-27.
Not attributed 100.0%
| Class | Terms-based role description | Load | Servicing | Minimum | Assets |
|---|---|---|---|---|---|
| Class A | Sales-load class for transactional brokerage distribution. | 3.00% | 60 bps | $2,500 | - |
| Class C | Servicing-fee class for brokerage or platform distribution. | 0.00% | 100 bps | $2,500 | - |
| Class E | - | 0.00% | 0 bps | $100,000 | - |
| Class I | No-load, high-minimum class; terms indicate advisory or large-account access. | 0.00% | 0 bps | $3,000,000 | - |
| Class R | Servicing-fee class for brokerage or platform distribution. | 0.00% | 25 bps | $2,500 | - |
Management fee: 1.50% of average daily net assets including assets purchased with leverage per year, current as of latest filed disclosure. Research only: not used in a fee distribution. SEC source 0001213900-26-081854.
Filed fee conditions
Pursuant to the investment advisory agreement (the "Investment Advisory Agreement"), by and between the Fund and the Adviser, the Fund pays a monthly management fee to the Adviser at the annual rate, based on the average daily value of the Fund's net assets, including assets purchased with borrowed funds or other forms of leverage, of 1.50%. The Management Fee is paid monthly in arrears at the annual rate of 1.50% of the daily average of the Fund's net assets, including assets purchased with the borrowed funds or other forms of leverage.
Canonical-class fee profile
| Class | Management | Incentive | Load | Servicing | Gross expenses | Net expenses |
|---|---|---|---|---|---|---|
| Class I | 1.50% | None
*
None. The standardized prospectus fee table contains no incentive/performance-fee line. SEC source 0001213900-26-081854 |
0.00% | 0 bps | - | - |
The evidence beneath the page.
Filed terms and recent documents remain available without crowding the primary research flow.
Term register (6)
| Term | Description | Value | Effective |
|---|---|---|---|
| advisory_fee_schedule | Pursuant to the investment advisory agreement (the "Investment Advisory Agreement"), by and between the Fund and the Adviser, the Fund pays a monthly management fee to the Adviser at the annual rate, based on the average daily value of the Fund's net assets, including assets purchased with borrowed funds or other forms of leverage, of 1.50%. The Management Fee is paid monthly in arrears at the annual rate of 1.50% of the daily average of the Fund's net assets, including assets purchased with the borrowed funds or other forms of leverage. | 1.5 pct annual of average daily net assets including assets purchased with leverage | - |
| expense_limitation | The Adviser has contractually agreed to waive fees or reimburse expenses to limit total annual Fund operating expenses (excluding management fees, Rule 12b-1 distribution and service fees, taxes, interest expenses, acquired fund fees and expenses, and certain extraordinary expenses) to no more than 1.00%, on an annualized basis, of the Fund's daily net assets ("Expense Cap"). The Adviser may only recoup the waived fees, reimbursed expenses or directly paid expenses if (i) the waived fees, reimbursed expenses or directly paid expenses have fallen to a level below the Expense Cap and (ii) the reimbursement amount does not raise the level of waived fees, reimbursed expenses or directly paid expenses in the month the reimbursement is being made to a level that exceeds the Expense Cap applicable at that time and the reimbursement is made within three years from the date the amount was initially waived, reimbursed or paid. In addition, the Adviser has contractually agreed to reimburse a portion of Class E's Other Expenses (excluding management fees, acquired fund fees and expenses, taxes and custody fees) equal to: (x) 0.20% of Class E's average daily net assets if Class E's total net assets are less than $100,000,000; (y) 0.30% of Class E's average daily net assets if Class E's total net assets are equal to or greater than $100,000,000 but less than $250,000,000; and (z) 0.40% of Class E's average daily net assets if Class E's total net assets are greater than $250,000,000. The Adviser may not recoup expenses reimbursed pursuant to the expense reimbursement agreement for Class E's Other Expenses. These contractual arrangements will remain in effect for at least until July 29, 2027 unless the Fund's Board of Trustees approves their earlier termination. | 1.0 pct annual of daily net assets excluding specified expenses | - |
| fee_waiver | The Adviser has contractually agreed to waive fees or reimburse expenses to limit total annual Fund operating expenses (excluding management fees, Rule 12b-1 distribution and service fees, taxes, interest expenses, acquired fund fees and expenses, and certain extraordinary expenses) to no more than 1.00%, on an annualized basis, of the Fund's daily net assets ("Expense Cap"). The Adviser may only recoup the waived fees, reimbursed expenses or directly paid expenses if (i) the waived fees, reimbursed expenses or directly paid expenses have fallen to a level below the Expense Cap and (ii) the reimbursement amount does not raise the level of waived fees, reimbursed expenses or directly paid expenses in the month the reimbursement is being made to a level that exceeds the Expense Cap applicable at that time and the reimbursement is made within three years from the date the amount was initially waived, reimbursed or paid. In addition, the Adviser has contractually agreed to reimburse a portion of Class E's Other Expenses (excluding management fees, acquired fund fees and expenses, taxes and custody fees) equal to: (x) 0.20% of Class E's average daily net assets if Class E's total net assets are less than $100,000,000; (y) 0.30% of Class E's average daily net assets if Class E's total net assets are equal to or greater than $100,000,000 but less than $250,000,000; and (z) 0.40% of Class E's average daily net assets if Class E's total net assets are greater than $250,000,000. The Adviser may not recoup expenses reimbursed pursuant to the expense reimbursement agreement for Class E's Other Expenses. These contractual arrangements will remain in effect for at least until July 29, 2027 unless the Fund's Board of Trustees approves their earlier termination. | 0.2 pct of class e average daily net assets below 100m tiered | - |
| leverage_ceiling | The Fund may use leverage to the extent permitted by the 1940 Act. The Fund is permitted to obtain leverage using any form or combination of financial leverage instruments, including through funds borrowed from banks or other financial institutions ( i.e. , a credit facility), margin facilities, or the issuance of notes in an aggregate amount up to 33 1 / 3 % of the Fund's total assets, including any assets purchased with borrowed money, immediately after giving effect to the leverage. The Fund is also permitted to obtain leverage through the issuance of preferred shares in an aggregate amount up to 50% of the Fund's total assets immediately after giving effect to the leverage. | 33.333333333333336 of total assets | - |
| lockup_or_early_repurchase_fee | A 2.00% early repurchase fee payable to the Fund will be charged with respect to the repurchase of an investor's Shares at any time prior to the day immediately preceding the one-year anniversary of an investor's purchase of the Shares (on a "first in-first out" basis). The Early Repurchase Fee payable by a Shareholder may be waived by the Fund in circumstances where the Board determines that doing so is in the best interests of the Fund, including in the case of repurchase requests: (i) submitted by model or programmatic portfolio management programs (including wrap accounts and similar arrangements) and qualified retirement plans; (ii) in circumstances as may be provided for with Board approval; (iii) as may be required by applicable law or regulation and (iv) in certain other limited circumstances. The early repurchase fee will be retained by the Fund for the benefit of the remaining investors. | 2.0 pct of repurchased amount within one year | - |
| repurchase_program_terms | Repurchases of Shares To provide Shareholders with limited liquidity, the Fund is structured as an "interval fund" and intends to conduct quarterly offers to repurchase between 5% and 25% of its outstanding Shares at NAV (minus any applicable early repurchase fee), pursuant to Rule 23c-3 under the 1940 Act, unless such offer is suspended or postponed in accordance with regulatory requirements (as discussed below). In connection with any given repurchase offer, it is expected that the Fund will offer to repurchase the minimum amount of 5% of its outstanding Shares. The offer to purchase Shares on a quarterly basis is a fundamental policy that may not be changed without the vote of the holders of a majority of the Fund's outstanding voting securities (as defined in the 1940 Act). The Repurchase Offer Notice is sent to Shareholders at least 21 calendar days and no more than 42 calendar days before the Repurchase Request Deadline. The Fund expects to determine the NAV applicable to repurchases no later than the Repurchase Pricing Date. The Repurchase Pricing Date shall occur no later than the 14th day after the Repurchase Request Deadline, or the next business day if the 14th day is not a business day. The Fund will distribute payment to Shareholders no later than seven calendar days after the Repurchase Pricing Date. The quarterly repurchases will commence in the months of March, June, September and December, with payment being distributed to Shareholders within the time period discussed above. The Repurchase Offer Amount, however, will be no less than 5% and no more than 25% of the total number of Shares outstanding on the Repurchase Request Deadline. | 5.0 pct of outstanding shares per quarter minimum | - |
Recent filings
| Filed | Form | Accession |
|---|---|---|
| 2026-07-27 | 486BPOS | 0001213900-26-081854 |
| 2026-06-08 | N-CSR | 0001213900-26-066143 |
| 2026-05-29 | NPORT-P | 0000910472-26-008256 |
| 2026-05-21 | N-23C3A | 0001213900-26-059900 |