As filed with the Securities and Exchange Commission on April 25, 2017

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT

INVESTMENT COMPANY

Investment Company Act file number (811-23127)

The Goodhaven Funds Trust
(Exact name of registrant as specified in charter)

4940 SW 83^rd Street

Miami, Florida 33143
(Address of principal executive offices) (Zip code)

Larry Pitkowsky

4940 SW 83^rd Street

Miami, Florida 33143

(Name and address of agent for service)

Registrant's telephone number, including area code: (305) 677-7650

Date of fiscal year end: November 30

Date of reporting period: February 28, 2017

Item 1. Schedule of Investments.

GoodHaven Fund

SCHEDULE OF INVESTMENTS at February 28, 2017 (Unaudited)

COMMON STOCKS - 70.3%

Value

	Air Transportation - 1.0%
60,000	American Airlines Group, Inc.	$	2,781,600

	Computer & Internet Software - 6.3%
9,000	Alphabet, Inc. - Class A ¹		7,604,370
11,500	Alphabet, Inc. - Class C ¹		9,466,915
			17,071,285

	Computers & Peripheral Equipment - 4.2%
498,400	HP, Inc.		8,657,208
343,742	Systemax, Inc. ²		2,715,562
			11,372,770

	Consumer Products - 3.8%
75,000	Spectrum Brands Holdings, Inc.		10,179,000

	Diversified Holding Companies - 8.0%
29,200	Berkshire Hathaway, Inc. - Class B ¹		5,005,464
1,035,320	Dundee Corp. ^1,2		3,811,711
477,512	Leucadia National Corp.		12,711,369
			21,528,544

	Financial Services - 2.9%
290,300	Federated Investors, Inc. - Class B		7,887,451

	General Building Materials - 0.5%
100,000	Builders FirstSource, Inc. ¹		1,294,000

	Loan Servicing - 1.8%
1,420,892	Walter Investment Management Corp. ^1,3		4,831,033

	Marine Services & Equipment - 2.3%
376,694	Stolt-Nielsen Ltd.		6,110,859

	Metals & Mining - 11.8%
1,702,150	Barrick Gold Corp.		31,625,947

	Oil & Gas Exploration & Production - 15.1%
1,718,100	Birchcliff Energy Ltd. ¹		9,261,854
2,430,055	WPX Energy, Inc. ¹		31,347,710
			40,609,564

	Property/Casualty Insurance - 6.1%
8,482	Alleghany Corp. ¹		5,477,676
11,602	White Mountains Insurance Group		10,862,488
			16,340,164

	Retailing - 3.7%
218,000	Sears Holdings Corp. ¹	1,709,120
921,900	Staples, Inc.	8,287,881
		9,997,001

	Telecommunications - 2.8%
150,000	Verizon Communications, Inc.	7,444,500

	TOTAL COMMON STOCKS
	(Cost $179,448,646)	189,073,718

	GUERNSEY INVESTMENT FUND - 2.6%
1,036,487	JZ Capital Partners Limited ²	6,919,345

	TOTAL GUERNSEY INVESTMENT FUND
	(Cost $5,910,842)	6,919,345

	MISCELLANEOUS SECURITIES - 0.2% ^1,4
	TOTAL MISCELLANEOUS SECURITIES
	(Cost $1,730,150)		441,750

	Total Investments
	(Cost $187,089,638) - 73.1%		196,434,813
	Cash and Other Assets in Excess of Liabilities - 26.9%		72,281,686
	TOTAL NET ASSETS - 100.0%	$	268,716,499


¹	Non-income producing security.
²	A portion of this security is considered illiquid. As of February 28, 2017, the total market value of illiquid securities was $10,349,584 or 3.9% of net assets.
³	Affiliated company as defined by the Investment Company Act of 1940.

Affiliated companies, as defined in Section 2(a)(3) of the Investment Company Act of 1940, are companies 5% or more of whose outstanding voting shares are held by the GoodHaven Fund (the "Fund") and the Advisor. For the period ended February 28, 2017, the Fund had the following transactions with affiliated companies:


As of February 28, 2017, the market value of all securities of affiliated companies held in the Fund amounted to $4,831,033, representing 1.8% of net assets.

	Share Balance November 30, 2016	Purchases	Sales	Share Balance February 28, 2017	Realized Gain (Loss)	Dividend Income	Value February 28, 2017	Acquisition Cost
Walter Investment Management Corp.	1,613,429	-	192,537	1,420,892	$ (4,509,232)	$ -	$ 4,831,033	$ 28,256,280

⁴

Represents previously undisclosed securities which the Fund has held for less than one year.

The cost basis of investments for federal income tax purposes at February 28, 2017 was as follows^:


Cost of investments	$	187,089,638
Gross unrealized appreciation		65,751,953
Gross unrealized depreciation		(56,406,778)
Net unrealized appreciation	$	9,345,175

^ Because tax adjustments are calculated annually at the end of the Fund's fiscal year,
the above table does not reflect tax adjustments for the current fiscal year. For the previous fiscal year's
federal income tax information, please refer to the Notes to Financial Statements section in the Fund's most
recent annual report.

GoodHaven Fund

Summary of Fair Value Exposure at February 28, 2017 (Unaudited)

The Fund utilizes various methods to measure the fair value of its investments on a recurring basis. U.S. GAAP establishes a hierarchy that prioritizes inputs to valuation methods. The three levels of inputs are:

• Level 1 — Unadjusted quoted prices in active markets for identical assets or liabilities that the Fund has the ability to access. • Level 2 — Observable inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. These inputs may include quoted prices for the identical instrument on an inactive market, prices for similar instruments, interest rates, prepayment spreads, credit risk, yield curves, default rates and similar data. • Level 3 — Unobservable inputs for the asset or liability, to the extent relevant observable inputs are not available, representing the Fund's own assumptions about the assumptions a market participant would use in valuing the asset or liability, and would be based on the best information available.

The following is a summary of the inputs used to value the Fund's investments as of February 28, 2017. See the Schedule of Investments for industry breakouts.

	Level 1	Level 2	Level 3	Total
Assets
Common Stocks	$ 189,073,718	$ –	$ –	$ 189,073,718
Guernsey Investment Fund	6,919,345	–	–	6,919,345
Miscellaneous Securities	–	441,750	–	441,750
Total Investments in Securities	$ 195,993,063	$ 441,750	$ –	$ 196,434,813

It is the Fund's policy to recognize transfers between levels at the end of the Fund's reporting period.

There were no transfers into or out of Level 1 or 2 during the period ended February 28, 2017.

Item 2. Controls and Procedures.

(a)

The Registrant's President and Treasurer have concluded that the Registrant's disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940 (the "1940 Act")) are effective as of a date within 90 days of the filing date of the report that includes the disclosure required by this paragraph, based on the evaluation of these controls and procedures required by Rule 30a-3(b) under the 1940 Act and Rule 15d‑15(b) under the Securities Exchange Act of 1934, as amended.

(b)

There were no changes in the Registrant's internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act) that occurred during the Registrant's last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the Registrant's internal control over financial reporting.

Item 3. Exhibits.

Separate certifications for each principal executive officer and principal financial officer of the Registrant as required by Rule 30a-2(a) under the 1940 Act (17 CFR 270.30a-2(a)). Filed herewith.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

(Registrant) The GoodHaven Funds Trust

By (Signature and Title) /s/ Larry Pitkowsky

Larry Pitkowsky

Principal Executive Officer and Principal Financial and

Accounting Officer

The GoodHaven Funds Trust

Date April 24, 2017

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

By (Signature and Title* /s/ Larry Pitkowsky

Larry Pitkowsky

Principal Executive Officer and Principal Financial and

Accounting Officer

The GoodHaven Funds Trust

Date April 24, 2017

* Print the name and title of each signing officer under his or her signature.