NPORT-EX 2 goodhaven.htm NPORT-EX

GoodHaven Fund
  
Schedule of Investments
  
February 28, 2026 (Unaudited)
  
   
COMMON STOCKS - 89.7%
  
Shares
    
Value
 
Automobile Retailers - 2.1%
        
Asbury Automotive Group, Inc. (a)
    
25,003
    
$
5,345,141
  
                 
Banks-Diversified - 7.1%
          
Bank of America Corp.
    
319,500
      
15,920,685
  
JPMorgan Chase & Co.
    
8,000
      
2,402,400
  
             
18,323,085
  
                 
Capital Markets - 4.2%
          
Jefferies Financial Group, Inc.
    
242,512
      
10,767,533
  
                 
Diversified Holding Companies - 16.8%
          
Berkshire Hathaway, Inc. - Class B (a)
    
85,800
      
43,324,710
  
                 
General Building Materials - 4.0%
          
Builders FirstSource, Inc. (a)
    
99,400
      
10,366,426
  
                 
Home Builder - 5.2%
          
Lennar Corp. - Class B
    
103,762
      
11,074,518
  
Toll Brothers, Inc.
    
15,000
      
2,358,600
  
             
13,433,118
  
                 
Industrial Conglomerate - 5.3%
          
EXOR NV
    
156,362
      
13,736,710
  
                 
Interactive Media & Services - 10.2%
          
Alphabet, Inc. - Class C
    
84,200
      
26,222,406
  
                 
Investment Management - 6.9%
          
Brookfield Corp.
    
231,822
      
10,163,076
  
KKR & Co., Inc.
    
85,000
      
7,452,800
  
             
17,615,876
  
                 
Oil & Gas Equipment & Services - 6.6%
          
TerraVest Industries, Inc.
    
158,300
      
17,067,689
  
                 
Oil & Gas Exploration & Production - 8.3%
          
Devon Energy Corp.
    
329,161
      
14,328,379
  
Vitesse Energy, Inc.
    
361,430
      
6,979,213
  
             
21,307,592
  
                 
Oil & Gas Infrastructure - 1.1%
          
Hess Midstream LP - Class A
    
75,667
      
2,926,800
  
                 
Property/Casualty Insurance - 8.8%
          
Chubb Ltd.
    
44,500
      
15,168,270
  
The Progressive Corp.
    
35,000
      
7,478,100
  
             
22,646,370
  
                 
Technology Distributors - 3.1%
          
Arrow Electronics, Inc. (a)
    
51,438
      
7,826,806
  
TOTAL COMMON STOCKS (Cost $115,066,300)
      
230,910,262
  
                 
WARRANTS - 1.7%
  
Contracts
    
Value
 
Oil & Gas Exploration & Production - 1.7%
          
Occidental Petroleum Corp., Expires 08/03/2027, Exercise Price $22.00 (a)
    
138,522
      
4,301,108
  
TOTAL WARRANTS (Cost $4,289,962)
      
4,301,108
  

PREFERRED STOCKS - 1.5%
Shares
  
Value
 
Government Agency - 1.5%
    
Federal National Mortgage Association
    
–
  
$
–
  
Series N, 5.50%, Perpetual
    
31,037
    
589,703
  
Series R, 7.63%, Perpetual
    
69,980
    
780,277
  
Series T, 8.25%, Perpetual
    
216,881
    
2,472,443
  
TOTAL PREFERRED STOCKS (Cost $820,675)
    
3,842,423
  
               
SHORT-TERM INVESTMENTS
  
U.S. TREASURY BILLS - 5.4%
Par
  
Value
 
3.54%, 04/09/2026 (b)
    
4,000,000
    
3,984,726
  
3.60%, 05/07/2026 (b)
    
10,000,000
    
9,934,184
  
TOTAL U.S. TREASURY BILLS (Cost $13,918,370)
    
13,918,910
  
               
TOTAL INVESTMENTS - 98.3% (Cost $134,095,307)
    
252,972,703
  
Money Market Deposit Account - 1.6% (c)
    
4,152,699
  
Other Assets in Excess of Liabilities - 0.1%
    
223,603
  
TOTAL NET ASSETS - 100.0%
        
$
257,349,005
  
       
Par amount is in USD unless otherwise indicated.
      
Percentages are stated as a percent of net assets.
      

(a)
Non-income producing security.
(b)
The rate shown is the annualized yield as of February 28, 2026.
(c)
The U.S. Bank Money Market Deposit Account (the “MMDA”) is a short-term vehicle in which the Fund holds cash balances. The MMDA will bear interest at a variable rate that is determined based on market conditions and is subject to change daily. The rate as of February 28, 2026 was 3.36%.


GoodHaven Fund
Summary of Fair Value Disclosure as of February 28, 2026 (Unaudited)
 
GoodHaven Fund (the "Fund") utilizes various methods to measure the fair value of most 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 speeds, 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 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, 2026:

   
Level 1
    
Level 2
    
Level 3
    
Total
  
Investments:
                        
  Common Stocks
  
$
230,910,262
    
$
–
    
$
–
    
$
230,910,262
  
  Warrants
    
4,301,108
      
–
      
–
      
4,301,108
  
  Preferred Stocks
    
3,842,423
      
–
      
–
      
3,842,423
  
  U.S. Treasury Bills
    
–
      
13,918,910
      
–
      
13,918,910
  
Total Investments
  
$
239,053,793
    
$
13,918,910
    
$
–
    
$
252,972,703
  
   
Refer to the Schedule of Investments for the industry and security type breakouts.