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
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…
August 25, 2022
2022 Semiannual Report
This shareholder letter is part of the Bretton Fund 2022 Semiannual Report (pdf). August 25, 2022 Dear Fellow Shareholders: This was going…
April 20, 2022
2022 Q1 Shareholder Letter
April 20, 2022 Dear Fellow Shareholders: Inflation, higher interest rates, and Vladimir Putin conspired to take the stock market off its…