Bretton Capital Management, LLC Long-Term Concentrated

Location: San Francisco, CA

CIK: 0002043671 · Show all filings

Period: Q3 2026 (← Previous)

Filing Date: Oct 22, 2026

Total Value: $119M (100.0% shares, 0.0% debt)

Holdings (20)

New Positions (2)

SAP SAP SE 4.9%

Value $5.837M Shares 28,000 Share Price $208.48 Est. Cost/Share $194.11 Unrealized @ Report Date +7.4%

MBGL Mobility Global, Inc. 0.1%

Value $159K Shares 9,300 Share Price $17.15 Est. Cost/Share $20.11 Unrealized @ Report Date -14.7%

Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
SAP	SAP SE	28,000	$5.837M	4.9%	$208.48	$194.11	+7.4%	SPONSORED ADR	803054204
MBGL	Mobility Global, Inc.	9,300	$159K	0.1%	$17.15	$20.11	-14.7%	COM SHS	60744M106

Exited Positions (2)

— SAP SE 3.6%

Value $4.315M Shares 28,000 Share Price $154.11 Est. Cost/Share $154.11 Unrealized @ Report Date —

CNSWF Constellation Software, Inc. 3.4%

Value $4.093M Shares 2,100 Share Price $1949.03 * Est. Cost/Share $1916.19 Unrealized @ Report Date +5.8%

Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
—	SAP SE	28,000	$4.315M	3.6%	$154.11	$154.11	—	—	803050205
CNSWF	Constellation Software, Inc.	2,100	$4.093M	3.4%	$1949.03 *	$1916.19	+5.8%	—	21037X100

Unchanged Positions (18)

MSFT Microsoft Corporation 6.0%

Value $7.181M Shares 14,000 Share Price $512.90 Est. Cost/Share $422.66 Unrealized @ Report Date +21.4%

EXP Eagle Materials Inc. 3.3%

Value $3.951M Shares 23,100 Share Price $171.02 Est. Cost/Share $242.10 Unrealized @ Report Date -29.4%

DFH Dream Finders Homes, Inc. Class A 1.5%

Value $1.824M Shares 170,500 Share Price $10.70 Est. Cost/Share $28.73 Unrealized @ Report Date -62.8%

UNH UnitedHealth Group Incorporated 6.7%

Value $7.966M Shares 21,700 Share Price $367.08 Est. Cost/Share $438.02 Unrealized @ Report Date -16.2%

AXP American Express Company 5.9%

Value $7.025M Shares 23,100 Share Price $304.10 Est. Cost/Share $245.13 Unrealized @ Report Date +24.1%

AZO AutoZone, Inc. 4.8%

Value $5.66M Shares 2,000 Share Price $2830.02 Est. Cost/Share $3070.23 Unrealized @ Report Date -7.8%

GOOG Alphabet Inc. - Class C 16.4%

Value $19.42M Shares 57,000 Share Price $340.74 Est. Cost/Share $168.24 Unrealized @ Report Date +102.5%

ROST Ross Stores, Inc. 6.8%

Value $8.099M Shares 34,700 Share Price $233.40 Est. Cost/Share $145.34 Unrealized @ Report Date +60.6%

TJX The TJX Companies, Inc. 3.3%

Value $3.969M Shares 30,000 Share Price $132.31 Est. Cost/Share $112.73 Unrealized @ Report Date +17.4%

NVR NVR, Inc. 4.1%

Value $4.862M Shares 790 Share Price $6154.39 Est. Cost/Share $8428.94 Unrealized @ Report Date -27.0%

MA MasterCard Incorporated - Class A 5.1%

Value $6.055M Shares 10,980 Share Price $551.47 Est. Cost/Share $471.17 Unrealized @ Report Date +17.0%

PGR The Progressive Corporation 5.8%

Value $6.924M Shares 33,400 Share Price $207.31 Est. Cost/Share $214.15 Unrealized @ Report Date -3.2%

BAC Bank of America Corporation 5.8%

Value $6.858M Shares 126,000 Share Price $54.43 Est. Cost/Share $38.77 Unrealized @ Report Date +40.4%

V Visa Inc. - Class A 5.4%

Value $6.396M Shares 17,800 Share Price $359.33 Est. Cost/Share $267.71 Unrealized @ Report Date +34.2%

SPGI S&P Global, Inc. 3.1%

Value $3.669M Shares 9,300 Share Price $394.47 Est. Cost/Share $489.86 Unrealized @ Report Date -19.5%

JPM JPMorgan Chase & Co. 6.7%

Value $7.94M Shares 24,000 Share Price $330.83 Est. Cost/Share $204.96 Unrealized @ Report Date +61.4%

BRK/B Berkshire Hathaway Inc. - Class B 2.1%

Value $2.49M Shares 5,000 Share Price $497.95 Est. Cost/Share $442.18 Unrealized @ Report Date +12.6%

MCO Moody's Corporation 2.1%

Value $2.498M Shares 5,500 Share Price $454.13 Est. Cost/Share $458.71 Unrealized @ Report Date -1.0%

Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
MSFT	Microsoft Corporation	14,000	$7.181M	6.0%	$512.90	$422.66	+21.4%	COM	594918104
EXP	Eagle Materials Inc.	23,100	$3.951M	3.3%	$171.02	$242.10	-29.4%	COM	26969P108
DFH	Dream Finders Homes, Inc. Class A	170,500	$1.824M	1.5%	$10.70	$28.73	-62.8%	CL A	26154D100
UNH	UnitedHealth Group Incorporated	21,700	$7.966M	6.7%	$367.08	$438.02	-16.2%	COM	91324P102
AXP	American Express Company	23,100	$7.025M	5.9%	$304.10	$245.13	+24.1%	COM	025816109
AZO	AutoZone, Inc.	2,000	$5.66M	4.8%	$2830.02	$3070.23	-7.8%	COM	053332102
GOOG	Alphabet Inc. - Class C	57,000	$19.42M	16.4%	$340.74	$168.24	+102.5%	CAP STK CL C	02079K107
ROST	Ross Stores, Inc.	34,700	$8.099M	6.8%	$233.40	$145.34	+60.6%	COM	778296103
TJX	The TJX Companies, Inc.	30,000	$3.969M	3.3%	$132.31	$112.73	+17.4%	COM	872540109
NVR	NVR, Inc.	790	$4.862M	4.1%	$6154.39	$8428.94	-27.0%	COM	62944T105
MA	MasterCard Incorporated - Class A	10,980	$6.055M	5.1%	$551.47	$471.17	+17.0%	CL A	57636Q104
PGR	The Progressive Corporation	33,400	$6.924M	5.8%	$207.31	$214.15	-3.2%	COM	743315103
BAC	Bank of America Corporation	126,000	$6.858M	5.8%	$54.43	$38.77	+40.4%	COM	060505104
V	Visa Inc. - Class A	17,800	$6.396M	5.4%	$359.33	$267.71	+34.2%	COM CL A	92826C839
SPGI	S&P Global, Inc.	9,300	$3.669M	3.1%	$394.47	$489.86	-19.5%	COM	78409V104
JPM	JPMorgan Chase & Co.	24,000	$7.94M	6.7%	$330.83	$204.96	+61.4%	COM	46625H100
BRK/B	Berkshire Hathaway Inc. - Class B	5,000	$2.49M	2.1%	$497.95	$442.18	+12.6%	CL B	084670702
MCO	Moody's Corporation	5,500	$2.498M	2.1%	$454.13	$458.71	-1.0%	COM	615369105