2020 Q1 Shareholder Letter

April 8, 2020 Dear Fellow Shareholders: The longest economic expansion in US history, along with one of its longest bull markets, has come to an abrupt end. Its early demise wasn’t due to overheating…


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2019 Annual Report to Shareholders

This shareholder letter is part of the Bretton Fund 2019 Annual Report (pdf). February 14, 2020 Dear Fellow Shareholders: The Bretton Fund’s net asset value per share (NAV) as of December 31, 2019,…


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Bretton Reduces Expense Ratio

Effective January 1, 2020, the Bretton Fund expense ratio will be 1.35%, down from 1.50%.


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2019 Distribution Information

The Bretton Fund was able to avoid incurring any taxes requiring distributions to shareholders this year and therefore will not make a distribution in 2019. If you have any questions, you can call…


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2019 Q3 Shareholder Letter

October 15, 2019 Dear Fellow Shareholders: The Bretton Fund’s net asset value per share (NAV) as of September 30, 2019, was $36.72, and the total return for the quarter was 1.69%. Total Returns as of…


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2019 Semiannual Report to Shareholders

This shareholder letter is part of the Bretton Fund 2019 Semiannual Report (pdf). August 14, 2019 Dear Fellow Shareholders: The Bretton Fund’s net asset value per share (NAV) as of June 30, 2019, was…


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2019 Q1 Shareholder Letter

April 15, 2019 Dear Fellow Shareholders: The Bretton Fund’s net asset value per share (NAV) as of March 31, 2019, was $34.16, and the total return for the quarter 13.83%. Total Returns as of March…


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2018 Annual Report to Shareholders

This shareholder letter is part of the Bretton Fund 2018 Annual Report (pdf). February 19, 2019 Dear Fellow Shareholders: The Bretton Fund’s net asset value per share (NAV) as of December 31, 2018,…


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2018 Distribution Information

The Bretton Fund made a long-term-capital-gain tax distribution of $0.259457 per share to shareholders on December 19, 2018. There were no other distributions for the year. If you have any questions,…


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2018 Q3 Shareholder Letter

October 12, 2018 Dear Fellow Shareholders: The Bretton Fund’s net asset value per share (NAV) as of September 30, 2018, was $35.00, and the total return for the quarter was 9.24%. Total Returns as of…


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