Bretton Fund Cites NVR’s $7,251 Share Price, 10% Drop and 18% EPS Decline
Bretton Fund’s Q4 2025 letter lists NVR as a top holding, noting its $7,251.27 share price with a one-month return of -9.86%, a 52-week loss of -3.25% and $20.589 billion market cap. The fund highlights a 10% share price drop and 18% EPS decline in 2025 due to high rates suppressing housing demand, but cites low inventory and pent-up buyers as upside catalysts.
1. Bretton Fund’s Q4 Position in NVR
Bretton Fund’s Q4 2025 letter states NVR as a top-five holding, with its shares closing at $7,251.27, a one-month return of -9.86%, a 52-week loss of -3.25%, and a market capitalization of $20.589 billion.
2. 2025 Performance Drivers
The fund attributes NVR’s 10% share decline and 18% EPS drop in 2025 to high interest rates curbing housing demand, following an initial resilience when rates first surged in 2022.
3. Pent-Up Housing Demand Outlook
Bretton Fund cites historically low inventory, elevated home prices and ongoing household formation as factors that will unfreeze the housing market and drive long-term gains for homebuilders like NVR.
4. Hedge Fund Exposure
At the end of Q4 2025, 50 hedge funds held positions in NVR, up from 46 in the prior quarter, indicating rising institutional interest despite recent headwinds.