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Bretton Fund
mutual fund
BRTNX
Payout Change
Suspended
Price as of:
$73.69
+0.85
+1.17%
primary theme
U.S. Large-Cap Blend Equity
share class
BRTNX (Mutual Fund)
Bretton Fund
Payout Change
Suspended
Price as of:
$73.69
+0.85
+1.17%
primary theme
U.S. Large-Cap Blend Equity
share class
BRTNX (Mutual Fund)
Bretton Fund
Payout Change
Suspended
Price as of:
$73.69
+0.85
+1.17%
primary theme
U.S. Large-Cap Blend Equity
share class
Name
As of 12/20/2024Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
Vitals
YTD Return
19.6%
1 yr return
20.5%
3 Yr Avg Return
11.3%
5 Yr Avg Return
13.3%
Net Assets
$91.1 M
Holdings in Top 10
61.1%
52 WEEK LOW AND HIGH
$72.8
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 1.35%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 1.38%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$2,000
IRA
$1,000
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 12/20/2024Price
Aum/Mkt Cap
YIELD
Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.
Exp Ratio
Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.
Watchlist
BRTNX - Profile
Distributions
- YTD Total Return 19.6%
- 3 Yr Annualized Total Return 11.3%
- 5 Yr Annualized Total Return 13.3%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio -0.24%
- Dividend Yield 0.0%
- Dividend Distribution Frequency Annual
Fund Details
-
Legal NameBretton Fund
-
Fund Family NameBretton Fund
-
Inception DateOct 04, 2010
-
Shares OutstandingN/A
-
Share ClassOther
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerStephen Dodson
Fund Description
The Bretton Fund seeks to achieve long-term capital appreciation by investing in a small number of undervalued securities. Under normal market conditions, the Fund invests primarily in common stocks of companies of all sizes, including small and micro-capitalization companies. The Fund may also invest in other types of equity securities, as well as fixed income securities. Fixed income securities in which the Fund may invest include investment-grade bonds of varying maturities. The Fund will normally hold a core position of between 15 to 20 securities. From time to time, the Fund may invest a significant portion of its assets in a particular sector. The Fund's investment adviser, Bretton Capital Management, LLC (the "Adviser"), attempts to evaluate the underlying economic values of securities and invests in securities whose market values are substantially below their estimated economic values, an approach known as "value investing." The Adviser uses fundamental research to seek companies with attractive attributes. These attributes include a defensible competitive advantage, relevant products, competent and shareholder-oriented management, growth, and a low level of debt. The Adviser seeks ethical businesses. Although tending to focus on U.S. companies, the Adviser may also invest in foreign companies with these attributes.
The Adviser sells or reduces the Fund's position in a security (1) when it approaches the Adviser's estimate of its fair value, (2) when its economic fundamentals have deteriorated, or (3) when the facts or the analysis surrounding the reason to originally put the security in the Fund's portfolio have changed.
Although the Fund intends to invest primarily in equity and fixed income securities, occasionally the Adviser may not find enough investments that meet the Fund's criteria and maintain without limitation a significant portion of the Fund's assets in cash or cash-equivalents like money-market funds, certificates of deposit and short-term debt obligations.
The Fund is a "non-diversified" fund, which means it can invest in fewer securities at any one time than a diversified fund. Also, from time to time the Fund may invest a significant portion of its assets in a limited number of industry sectors, but will not concentrate in any particular industry.
BRTNX - Performance
Return Ranking - Trailing
| Period | BRTNX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 19.6% | -7.7% | 42.7% | 63.56% |
| 1 Yr | 20.5% | -7.3% | 42.1% | 60.57% |
| 3 Yr | 11.3%* | -5.4% | 21.4% | 8.91% |
| 5 Yr | 13.3%* | -2.1% | 108.6% | 47.69% |
| 10 Yr | 11.8%* | 2.0% | 52.4% | 43.56% |
* Annualized
Return Ranking - Calendar
| Period | BRTNX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 28.9% | -42.6% | 47.4% | 2.74% |
| 2022 | -14.3% | -56.3% | -4.2% | 8.95% |
| 2021 | 27.0% | -27.2% | 537.8% | 5.87% |
| 2020 | 8.1% | -22.5% | 2181.7% | 72.64% |
| 2019 | 35.4% | -13.5% | 40.4% | 1.30% |
Total Return Ranking - Trailing
| Period | BRTNX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 19.6% | -7.7% | 42.7% | 63.56% |
| 1 Yr | 20.5% | -7.3% | 42.1% | 60.57% |
| 3 Yr | 11.3%* | -5.4% | 21.4% | 8.91% |
| 5 Yr | 13.3%* | -2.1% | 108.6% | 47.69% |
| 10 Yr | 11.8%* | 2.0% | 52.4% | 43.56% |
* Annualized
Total Return Ranking - Calendar
| Period | BRTNX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 28.9% | -5.0% | 47.4% | 9.31% |
| 2022 | -12.6% | -36.8% | -2.2% | 15.90% |
| 2021 | 27.8% | 3.0% | 537.8% | 37.59% |
| 2020 | 8.4% | -15.8% | 2266.0% | 92.59% |
| 2019 | 35.4% | -0.4% | 241.3% | 3.15% |
NAV & Total Return History
BRTNX - Holdings
Concentration Analysis
| BRTNX | Category Low | Category High | BRTNX % Rank | |
|---|---|---|---|---|
| Net Assets | 91.1 M | 2.34 M | 1.84 T | 89.16% |
| Number of Holdings | 20 | 2 | 3963 | 98.10% |
| Net Assets in Top 10 | 64.4 M | 880 K | 525 B | 84.11% |
| Weighting of Top 10 | 61.09% | 0.3% | 111.6% | 4.07% |
Top 10 Holdings
- Alphabet Inc. - Class C 9.04%
- The Progressive Corporation 8.04%
- NVR, Inc. 6.42%
- AutoZone, Inc. 5.98%
- American Express Company 5.94%
- UnitedHealth Group Incorporated 5.44%
- The TJX Companies, Inc. 5.24%
- Microsoft Corporation 5.23%
- Ross Stores, Inc. 4.96%
- JPMorgan Chase Co. 4.80%
Asset Allocation
| Weighting | Return Low | Return High | BRTNX % Rank | |
|---|---|---|---|---|
| Stocks | 99.46% | 0.00% | 105.79% | 33.69% |
| Cash | 0.54% | 0.00% | 99.07% | 62.91% |
| Preferred Stocks | 0.00% | 0.00% | 2.15% | 55.22% |
| Other | 0.00% | -13.91% | 100.00% | 67.30% |
| Convertible Bonds | 0.00% | 0.00% | 5.54% | 52.66% |
| Bonds | 0.00% | 0.00% | 93.85% | 56.13% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | BRTNX % Rank | |
|---|---|---|---|---|
| Financial Services | 43.20% | 0.00% | 55.59% | 0.84% |
| Consumer Cyclical | 22.88% | 0.00% | 30.33% | 0.67% |
| Communication Services | 12.09% | 0.00% | 27.94% | 9.87% |
| Healthcare | 8.49% | 0.00% | 52.29% | 93.84% |
| Industrials | 6.37% | 0.00% | 29.90% | 93.25% |
| Technology | 5.62% | 0.00% | 48.94% | 98.65% |
| Consumer Defense | 1.33% | 0.00% | 47.71% | 96.80% |
| Utilities | 0.00% | 0.00% | 20.91% | 93.17% |
| Real Estate | 0.00% | 0.00% | 31.91% | 93.59% |
| Energy | 0.00% | 0.00% | 41.64% | 92.75% |
| Basic Materials | 0.00% | 0.00% | 25.70% | 97.55% |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | BRTNX % Rank | |
|---|---|---|---|---|
| US | 99.46% | 0.00% | 105.79% | 28.48% |
| Non US | 0.00% | 0.00% | 63.83% | 61.34% |
BRTNX - Expenses
Operational Fees
| BRTNX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 1.35% | 0.01% | 19.75% | 19.33% |
| Management Fee | 1.35% | 0.00% | 1.90% | 99.83% |
| 12b-1 Fee | 0.00% | 0.00% | 1.00% | 12.44% |
| Administrative Fee | 0.07% | 0.00% | 0.85% | 42.74% |
Sales Fees
| BRTNX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | N/A | 1.00% | 5.75% | N/A |
| Deferred Load | N/A | 1.00% | 5.00% | N/A |
Trading Fees
| BRTNX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Max Redemption Fee | N/A | 0.25% | 2.00% | N/A |
Related Fees
Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.
| BRTNX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 1.38% | 0.00% | 268.00% | 1.08% |
BRTNX - Distributions
Dividend Yield Analysis
| BRTNX | Category Low | Category High | BRTNX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 0.00% | 0.00% | 25.47% | 95.60% |
Dividend Distribution Analysis
| BRTNX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Annual | Annual | Quarterly | Annual |
Net Income Ratio Analysis
| BRTNX | Category Low | Category High | BRTNX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | -0.24% | -54.00% | 2.44% | 90.95% |
Capital Gain Distribution Analysis
| BRTNX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Semi-Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Dec 16, 2022 | $0.949 | CapitalGainLongTerm |
| Dec 17, 2021 | $0.347 | CapitalGainLongTerm |
| Dec 18, 2020 | $0.127 | CapitalGainLongTerm |
| Dec 19, 2018 | $0.259 | CapitalGainLongTerm |
| Dec 22, 2016 | $0.427 | CapitalGainLongTerm |
| Dec 23, 2015 | $0.045 | CapitalGainLongTerm |
| Dec 23, 2014 | $0.014 | OrdinaryDividend |
| Dec 26, 2013 | $0.397 | CapitalGainLongTerm |
| Dec 22, 2011 | $0.003 | StockDividendDifferentClass |
| Dec 22, 2011 | $0.193 | CapitalGainShortTerm |
BRTNX - Fund Manager Analysis
Managers
Stephen Dodson
Start Date
Tenure
Tenure Rank
Sep 30, 2010
11.67
11.7%
Mr. Dodson is the president of Bretton Capital Management, LLC. Mr. Dodson founded Bretton Capital Management, LLC in 2010. From 2002 to 2008, Mr. Dodson worked at Parnassus Investments in San Francisco, California, where he held various positions including president, portfolio manager, and chief operating officer. Prior to joining Parnassus Investments, Mr. Dodson was a venture capital associate with Advent International and an investment banking analyst at Morgan Stanley. Mr. Dodson has a B.S. in Business Administration from the Haas School of Business at the University of California, Berkeley.
Raphael de Balmann
Start Date
Tenure
Tenure Rank
Apr 30, 2015
7.09
7.1%
Mr. de Balmann is a portfolio manager with Bretton Capital Management, LLC. Mr. de Balmann has managed the Fund since April 2015. Before joining Bretton Capital Management, LLC, Mr. de Balmann was a partner at One Equity Partners, the private equity arm of JPMorgan. He was previously a principal at Paine & Partners/Fox Paine and worked in the private equity groups of Blackstone and Lazard in New York and London. Mr. de Balmann has an MBA from Stanford University and an AB in social studies from Harvard College. Bretton Capital Management, LLC
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.04 | 39.02 | 7.29 | 2.42 |
