Fund Principles
The Bretton Fund operates on two principles: a focused, value strategy and treating our shareholders fairly.
We believe the best way to achieve excellent long-term returns is to invest with a long time horizon in a concentrated number of businesses whose underlying economic values are significantly greater than their market values.


How We Invest
We practice “value investing,” which simply means buying securities for considerably less than they are worth.
We seek maximum returns regardless of asset class, which means the mix of the type of securities the fund will invest in will change from time to time. Given our expertise and the return potential, we will most often be invested in the stocks of US-based companies, particularly companies with strong economic characteristics.
Latest News
February 16, 2023
2022 Annual Report to Shareholders
This shareholder letter is part of the Bretton Fund 2022 Annual Report (pdf). February 14, 2023 Dear Fellow Shareholders: The stock market…
November 29, 2022
2022 Distribution Information
The Bretton Fund made a long-term capital-gain distribution to shareholders on December 16, 2022, of $0.948741 per share, amounting to 2%…
October 21, 2022
2022 Q3 Shareholder Letter
October 21, 2022 Dear Fellow Shareholders: With the S&P 500 down 23.87% year-to-date—the Bretton Fund is down 21.64%—we appear to be on…