NPORT-EX 2 goodhaven.htm GOODHAVEN FUND PART F 8/31/21

GoodHaven Fund
  
SCHEDULE OF INVESTMENTS at August 31, 2021 (Unaudited)
  

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COMMON STOCKS - 92.4%
 
  
 
 
  
Value
  
   
Banks-Diversified - 4.1%
              
 
                 70,000
  
Bank of America Corp.
         $
         2,922,500
  
 
                   8,000
  
JPMorgan Chase & Co.
          
            1,279,600
  
                 
            4,202,100
  
                     
   
Computer & Software - 19.5%
              
 
                 12,000
  
Alibaba Group Holding Ltd. 1
          
            2,003,880
  
 
                   5,310
  
Alphabet Inc. - Class C 1
          
          15,448,064
  
 
                   7,300
  
Facebook, Inc. - Class A 1
          
            2,769,474
  
                 
          20,221,418
  
                     
   
Diversified Holding Companies - 15.8%
              
 
                 50,200
  
Berkshire Hathaway Inc. - Class B 1
          
          14,345,654
  
 
                 25,000
  
EXOR NV
          
            2,084,022
  
                 
          16,429,676
  
   
Financial Services - 13.4%
              
 
                 36,555
  
Brookfield Asset Management, Inc. - Class A
          
            2,030,630
  
 
                      252
  
Brookfield Asset Management Reinsurance Partners Ltd.1
          
                 15,397
  
 
               242,512
  
Jefferies Financial Group Inc.
          
            8,963,244
  
 
                 45,000
  
KKR & Co, Inc.
          
            2,893,050
  
                 
          13,902,321
  
                     
   
General Building Materials - 5.1%
              
 
                 99,400
  
Builders FirstSource, Inc.1
          
            5,297,026
  
                     
   
Home Builder - 4.4%
              
 
                 51,946
  
Lennar Corporation - Class B
          
            4,546,314
  
                     
   
Industrial Supplies - 1.2%
              
 
                 32,805
  
Global Industrial Co.
          
            1,262,664
  
                     
   
Metals & Mining - 5.1%
              
 
               264,650
  
Barrick Gold Corp.
          
            5,311,526
  
                     
   
Mortgage Banking - 2.1%
              
 
               149,304
  
Guild Holdings Co. - Class A 1
          
            2,157,443
  
                     
   
Oil & Gas Equipment & Services - 1.6%
              
 
                 96,600
  
TerraVest Industries, Inc.
          
            1,657,663
  
                     
   
Oil & Gas Exploration & Production - 6.7%
              
 
               170,361
  
Devon Energy Corp.
          
            5,034,167
  
 
                 75,667
  
Hess Midstream LP - Class A
          
            1,947,669
  
                 
            6,981,836
  
                     
   
Property/Casualty Insurance - 7.4%
              
 
                   5,550
  
Alleghany Corp.1
          
            3,755,629
  
 
                   3,000
  
Chubb Ltd.
          
               551,760
  
 
                 35,000
  
The Progressive Corp.
          
            3,371,900
  
                 
            7,679,289
  
                     
   
Real Estate - 4.0%
              
 
               114,000
  
STORE Capital Corp. - REIT
          
            4,111,980
  
                     
   
Utilities - 2.0%
              
 
               227,400
  
PG&E Corp.1
          
            2,085,258
  
                     
     
TOTAL COMMON STOCKS
              
 
(Cost $44,827,591)
          
          95,846,514
  
                 
 
 
PREFERRED STOCKS - 0.4%
 
  
 
 
  
 
  
   
Government Agency - 0.4%
              
 
                 10,000
  
Federal National Mortgage Association, Series N 5.500% 1,2
          
                 27,400
  
 
                   7,750
  
Federal National Mortgage Association, Series E, 5.100% 1,2
          
                 20,925
  
 
                 69,980
  
Federal National Mortgage Association, Series R, 7.625% 1,2
          
               105,250
  
 
                 27,846
  
Federal National Mortgage Association, Series S, 8.250% 1,2,3
          
                 49,009
  
 
               171,581
  
Federal National Mortgage Association, Series T, 8.250% 1,2
          
               248,793
  
                 
               451,377
  
                     
     
TOTAL PREFERRED STOCKS
              
 
(Cost $977,072)
          
               451,377
  
                     
Principal Amount
 
U.S. GOVERNMENT SECURITIES - 6.8%
 
  
 
 
  
 
  
     
United States Treasury Bills - 6.8%
              
 
 $          2,000,000
  
0.034% due 10/21/2021 4
          
            1,999,861
  
 
            5,000,000
  
0.030% due 12/16/2021 4
          
            4,999,411
  
                 
            6,999,272
  
                     
     
TOTAL U.S. GOVERNMENT SECURITIES
              
 
(Cost $6,999,464)
          
            6,999,272
  
                     
 
 
MISCELLANEOUS SECURITIES - 0.1% 5,6
 
  
Notional Value
 
  
 
  
     
TOTAL MISCELLANEOUS SECURITIES
              
 
(Cost $177,394)
   $
           3,609,530
    
               144,425
  
     
Total Investments
              
     
(Cost $52,981,521) - 99.7%
          
        103,441,588
  
     
Cash and Other Assets in Excess of Liabilities - 0.3%
          
               265,306
  
     
TOTAL NET ASSETS - 100.0%
         $
     103,706,894
  

   
REIT -
Real Estate Investment Trust
        
   
1
Non-income producing security.
        
   
2
Perpetual maturity.
        
   
3
Variable rate dividend; rate shown is rate of last dividend.
        
   
4
Rate represents the annualized effective yield to maturity from the purchase price.
        
   
5
Represents unrestricted previously undisclosed exchange-traded purchased options which the Fund has held for less than one year.
        
   
6
Notional value related to derivatives only.
        


GoodHaven Fund
  
Summary of Fair Value Exposure at August 31, 2021 (Unaudited)
  
                         
The 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 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 August 31, 2021. See the Schedule of Investments for industry breakouts.
  
                         
Description
  
Level 1
    
Level 2
    
Level 3
    
Total
  
Common Stocks
  
$
95,846,514
    
$
–
    
$
–
    
$
95,846,514
  
Preferred Stocks
    
403,052
      
48,325
      
–
      
451,377
  
U.S. Government Securities
    
–
      
6,999,272
      
–
      
6,999,272
  
Miscellaneous Securities
    
–
      
144,425
      
–
      
144,425
  
Total Investments in Securities
  
$
96,249,566
    
$
7,192,022
    
$
–
    
$
103,441,588