Goodhaven Unveils New Fund

April 11, 2011 ( – GoodHaven Capital Management, LLC has unveiled the GoodHaven Fund, with a focused portfolio management strategy and a flexible mandate allowing the managers to broadly seek value.


A news release said the fund’s trading symbol is GOODX.  The founders and portfolio Managers of GoodHaven are Larry Pitkowsky and Keith Trauner.

Over most of the last decade, Pitkowsky and Trauner held research, portfolio management, and executive positions with Fairholme and that firm’s affiliated Fairholme Fund. Trauner has more than 30 years of research and portfolio management experience, and Pitkowsky more than 20 years.

When choosing investments, GoodHaven’s managers primarily focus on free cash flow; a strong balance sheet; products or services that fill basic human needs or wants; owner/managers with demonstrated skill in capital allocation; participation in stressed industries; potential for long-term growth; and a demonstrated ability to increase prices. The fund may, from time to time, also have significant fixed-income investments or cash holdings.

According to the company, the minimum initial investment is $10,000 for regular accounts and $2,500 for retirement, tax-deferred and UGMA/UTMA accounts. The fund’s toll free phone number is 1-855-OK-GOODX (1-855-654-6639).

Pitkowsky joined Fairholme in 1999 and was a Portfolio Manager with the Fairholme Fund from 2002 until 2007 and a member of the firm’s portfolio management team from 1999 until 2007. He also held various other positions, including CEO of FCM Services, an affiliate of Fairholme. Previously, Pitkowsky worked at Paine Webber as a VP of Investments and Portfolio Manager. He received his BS in Accounting from Rutgers University.

Trauner joined Fairholme in 1999 and was a Portfolio Manager of the Fairholme Fund from 2006 to 2008. During his tenure at Fairholme, he also served as a Senior Analyst, Portfolio Manager, and Chief Financial Officer of the firm. Trauner was also an Officer and Director of Fairholme Funds, Inc., parent company of the Fairholme Fund. He received his BA in History from Middlebury College.

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