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Critical Facts You Need to Know About Preferred Stocks
Have you ever wished for the safety of bonds, but the return potential...
Name
As of 10/11/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
YTD Return
20.9%
1 yr return
36.5%
3 Yr Avg Return
13.2%
5 Yr Avg Return
15.6%
Net Assets
$91.1 M
Holdings in Top 10
63.4%
Expense Ratio 1.35%
Front Load N/A
Deferred Load N/A
Turnover 1.38%
Redemption Fee N/A
Standard (Taxable)
$2,000
IRA
$1,000
Fund Type
Open End Mutual Fund
Name
As of 10/11/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
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.
Period | BRTNX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 20.9% | 4.3% | 39.1% | 54.86% |
1 Yr | 36.5% | 8.1% | 59.1% | 23.91% |
3 Yr | 13.2%* | -5.0% | 16.7% | 1.40% |
5 Yr | 15.6%* | -7.7% | 111.5% | 27.47% |
10 Yr | 13.0%* | 0.4% | 53.5% | 40.00% |
* Annualized
Period | BRTNX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 28.9% | -42.6% | 47.4% | 2.68% |
2022 | -14.3% | -56.3% | -4.2% | 8.75% |
2021 | 27.0% | -27.2% | 537.8% | 5.81% |
2020 | 8.1% | -22.5% | 2181.7% | 72.74% |
2019 | 35.4% | -13.5% | 40.4% | 1.27% |
Period | BRTNX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 20.9% | 4.3% | 39.1% | 54.86% |
1 Yr | 36.5% | 8.1% | 59.1% | 23.91% |
3 Yr | 13.2%* | -5.0% | 16.7% | 1.40% |
5 Yr | 15.6%* | -7.7% | 111.5% | 27.47% |
10 Yr | 13.0%* | 0.4% | 53.5% | 40.00% |
* Annualized
Period | BRTNX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 28.9% | -5.0% | 47.4% | 9.26% |
2022 | -12.6% | -36.8% | -2.2% | 15.62% |
2021 | 27.8% | 3.0% | 537.8% | 37.38% |
2020 | 8.4% | -15.8% | 2266.0% | 92.41% |
2019 | 35.4% | -0.4% | 241.3% | 3.08% |
BRTNX | Category Low | Category High | BRTNX % Rank | |
---|---|---|---|---|
Net Assets | 91.1 M | 2.34 M | 1.55 T | 88.83% |
Number of Holdings | 20 | 2 | 4002 | 98.22% |
Net Assets in Top 10 | 59.8 M | 979 K | 517 B | 84.78% |
Weighting of Top 10 | 63.41% | 0.3% | 112.9% | 3.09% |
Weighting | Return Low | Return High | BRTNX % Rank | |
---|---|---|---|---|
Stocks | 99.85% | 0.00% | 105.85% | 11.34% |
Cash | 0.15% | 0.00% | 99.07% | 83.56% |
Preferred Stocks | 0.00% | 0.00% | 2.53% | 61.94% |
Other | 0.00% | -13.91% | 100.00% | 70.61% |
Convertible Bonds | 0.00% | 0.00% | 5.54% | 60.76% |
Bonds | 0.00% | 0.00% | 94.06% | 63.16% |
Weighting | Return Low | Return High | BRTNX % Rank | |
---|---|---|---|---|
Financial Services | 43.20% | 0.00% | 55.59% | 0.82% |
Consumer Cyclical | 22.88% | 0.00% | 30.33% | 0.66% |
Communication Services | 12.09% | 0.00% | 27.94% | 9.73% |
Healthcare | 8.49% | 0.00% | 52.29% | 93.98% |
Industrials | 6.37% | 0.00% | 29.90% | 92.66% |
Technology | 5.62% | 0.00% | 48.94% | 98.68% |
Consumer Defense | 1.33% | 0.00% | 47.71% | 96.78% |
Utilities | 0.00% | 0.00% | 20.91% | 93.90% |
Real Estate | 0.00% | 0.00% | 31.91% | 95.22% |
Energy | 0.00% | 0.00% | 41.64% | 93.98% |
Basic Materials | 0.00% | 0.00% | 25.70% | 97.44% |
Weighting | Return Low | Return High | BRTNX % Rank | |
---|---|---|---|---|
US | 99.85% | 0.00% | 105.85% | 9.88% |
Non US | 0.00% | 0.00% | 64.54% | 68.10% |
BRTNX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 1.35% | 0.01% | 19.75% | 19.07% |
Management Fee | 1.35% | 0.00% | 1.90% | 99.84% |
12b-1 Fee | 0.00% | 0.00% | 1.00% | 13.19% |
Administrative Fee | 0.07% | 0.00% | 0.85% | 42.82% |
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 |
BRTNX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | N/A | 0.25% | 2.00% | N/A |
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% | 1.05% |
BRTNX | Category Low | Category High | BRTNX % Rank | |
---|---|---|---|---|
Dividend Yield | 0.00% | 0.00% | 25.47% | 95.62% |
BRTNX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | None | Annually | Quarterly | Annual |
BRTNX | Category Low | Category High | BRTNX % Rank | |
---|---|---|---|---|
Net Income Ratio | -0.24% | -54.00% | 2.44% | 91.07% |
BRTNX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
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 |
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.
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
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.04 | 39.02 | 7.24 | 2.42 |
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