The Bretton Fund's Q3 2026 letter reports a -1.75% return for the quarter, versus +2.30% for the S&P 500. Microsoft and SAP were the strongest contributors, while Eagle Materials and Dream Finders Homes were hurt by a delayed housing recovery. The letter highlights Mobility Global (NYSE:MBGL), spun off from S&P Global at the start of July and renamed in February 2026, and says management judged its auto business to have little overlap with S&P Global's capital markets businesses. The stock closed at $18.76 on October 23, 2026, with a market capitalization of $5.53 billion, and returned 5.63% over the past month. Three hedge fund portfolios held it at the end of the second quarter, versus zero in the previous quarter.
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