Goodhaven Capital Management

GoodHaven Capital Management, LLC, established in November 2010, offers investment supervisory services and advice for individual and institutional clients. The firm's investment philosophy centers on a focused value approach, concentrating on undervalued securities identified through fundamental research. Clients' portfolios primarily consist of common stocks but may also include other securities. GoodHaven tailors its advisory services to clients' investment objectives and guidelines, aiming for long-term growth with relatively low turnover. The firm manages assets for individual and institutional clients through separate account programs, with a minimum account size of $1 million for the GoodHaven Separate Account Program (GSAP) and $25 million for the Institutional Separate Account Program (ISAP). Fees are based on assets under management, with rates ranging from 1.1% to 1.25% of AUM for non-mutual fund clients. GoodHaven may enter into performance-based fee arrangements with qualified clients, structured to comply with regulatory requirements. The firm exercises investment discretion in selecting and trading securities, with a preference for clients to retain exclusive proxy voting authority. GoodHaven does not vote proxies for most client accounts, except in specific circumstances. The firm's Code of Ethics ensures fair treatment of all clients and aligns employee interests with client outcomes. GoodHaven does not have custody of client assets, which are held with qualified custodians. The firm does not have any financial conditions that would impair its ability to meet client commitments.