GoodHaven Fund · NASDAQ:GOODX
GoodHaven Fund — GoodHaven Capital Management — Investor Presentation (July 2026)
25 slides from GoodHaven Fund's investor presentation, July 2026
Slide 1: GoodHaven Capital Management Investor Presentation
GoodHaven Capital Management, LLC July 2026 Investor Presentation Private & Confidential
Slide 2: About the Firm
About the Firm • Originally founded in 2010 by Larry Pitkowsky and Keith Trauner, with the backing of Markel Corporation. Controlled solely by Larry Pitkowsky since December 2019. Summary • GoodHaven is a registered investment advisor currently managing approximately $395 million in assets. • Majori
Slide 3: Portfolio Manager
Portfolio Manager GoodHaven is led by Larry Pitkowsky, an industry veteran with over 35+ years of investment management experience. Leadership • Co-founded GoodHaven Capital Management in 2010, a registered investment advisor providing investment management services to individuals, institutions, and
Slide 4: Markel Group – A Strategic Partner
Markel Group – A Strategic Partner Markel Group is GoodHaven’s minority partner and anchor investor • "When it went public in 1986, it was an obscure specialty insurer with a market value of about $40 million. The Markel family, which founded the firm in 1930, hired Gayner to help them replicate Ber
Slide 5: Investment Philosophy
Investment Philosophy GoodHaven has a track record of delivering attractive returns through a repeatable investment process and investing in quality businesses. Focus in the highest conviction ideas with a private equity investment Concentrated Portfolio holding period, generally greater than 2-3 ye
Slide 6: GoodHaven Fund (GOODX) Portfolio Overview
GoodHaven Fund (GOODX) Portfolio Overview • Concentrated holdings • Above market growth • Below market valuation GoodHaven Fund S&P 500 Index Concentration # of Positions 18 503 Growth Rate 5 Yr EPS Growth Rate 7.0% 8.7% (2021 to 2026E) Attractive Valuation 2026 P/E Ratio 17.6x 23.7x 6 See pages 22-
Slide 7: Investment Process
Investment Process Situation Analysis Valuation Investment Decision • Variant perceptions on the • Assessing the level of • Look at each investment business and industry discount to a range of holistically with existing possibilities of intrinsic positions in the portfolio • Behavioral factors such
Slide 8: GoodHaven Fund (GOODX) Holdings
GoodHaven Fund (GOODX) Holdings Our Top 10 Positions as of February 28, 2026: Security Ownership % Holding # of Years Berkshire Hathaway, Inc. – Class B 16.8% 14.9 Alphabet Inc. – Class C 10.2% 14.9 TerraVest Industries, Inc. 6.6% 6.1 Bank of America Corp. 6.2% 5.9 Chubb Ltd. 5.9% 1.5 Devon Energy C
Slide 9: Performance & Morningstar Data
GoodHaven Fund (GOODX) Performance & Morningstar® Data Large Value Performance as of June 30, 2026 Annualized YTD 1YR 3YR 5YR 10YR Since Inception1 -1.37% 3.42% 12.07% 10.92% 9.86% 7.71% 10.21% 22.32% 20.61% 13.41% 15.51% 14.12% Morningstar Data as of June 30, 2026, based on risk-adjusted returns N/
Slide 10: Portfolio Themes
GoodHaven Fund (GOODX) Portfolio Themes • Secular tailwinds in the shift towards digital advertising. Advertising & • Largest firms have significant network effects and Social Media competitive advantages, with high barriers-to-entry. • Companies trading at significant discount to intrinsic value. •
Slide 11: GoodHaven 2.0: Upgrading The Portfolio
GoodHaven 2.0 Upgrading The Portfolio “Never Let a Crisis Go To Waste” – Winston Churchill “Its recent strength—including a return in the first half of 2023—has driven it to top 10% returns in its Morningstar peer group over the past three years. Bottom line: GoodHaven is living up to its early prom
Slide 12: Portfolio Analytics
GoodHaven Fund (GOODX) Portfolio Analytics Average Average Average Concentration Cash Balance Portfolio Turnover In Top 10 positions GoodHaven 1.0 May 31, 2011 12% 49.9% inception April 2011 May 31, 2012 18.2% 11% 52.9% 2013 28.5% 12% 45.8% 2014 20.6% 37% 49.2% 2015 25.4% 18% 47.9% 2016 24.1% 8% 51.
Slide 13: Investment Options
Investment Options Separate Account Program Institutional Separate Account Program The GoodHaven Separate Account Program (GSAP) The GoodHaven Institutional Separate Account manages investment accounts in excess of $1 million Program (ISAP) manages accounts in excess of $25 for individuals, corporat
Slide 14: Team Biographies
Team Biographies Larry Pitkowsky - Co-Founder, Managing Partner and Portfolio Manager Larry Pitkowsky is the co-founder, Managing Partner, and Portfolio Manager of GoodHaven Capital Management, which is an investment adviser registered with the SEC providing investment management services to individ
Slide 15: Team Biographies (cont.)
Team Biographies (cont.) Artie Kwok - Managing Director & Partner Artie Kwok joined GoodHaven Capital Management in April 2014 and is a senior member of the firm’s investment team. His responsibilities include the firm’s investment process that encompasses idea generation, investment analysis, and p
Slide 16: Team Biographies (cont.)
Team Biographies (cont.) David Gresser - Director of Client Services David Gresser is the Director of Client Services at GoodHaven Capital Management LLC and has served in this role since the launch of the firm in December 2010. He has over 25 years of experience in client services/operations in bot
Slide 17: Team Biographies (cont.)
Team Biographies (cont.) Lynn Iacona - Director of Operations Lynn Iacona is the Director of Operations at GoodHaven Capital Management, LLC. She has served in this role since 2019, and prior to that date she has served in a number of other roles at GoodHaven since joining the firm in 2011. In addit
Slide 18: Team Biographies (cont.)
Team Biographies (cont.) Linda Baxter – Marketing and Business Development Linda Baxter joined GoodHaven Capital Management in March 2022 where she serves as Special Project Consultant. Linda has over 20 years of experience in the financial services industry. Prior to GoodHaven, Linda served as Seni
Slide 19: Team Biographies (cont.)
Team Biographies (cont.) Bernadette Murphy – Chief Compliance Officer Bernadette Murphy is joined GoodHaven Capital In her role at Vigilant, Bernadette develops, Management as Chief Compliance Officer in tests, and monitors Compliance Programs for December 2019. Investment Advisers, Registered Inves
Slide 20: Service Providers
Service Providers Service Providers Custodian US Bank and Fidelity Prime Broker Interactive Brokers Distributor Quasar Distributors Legal Blank Rome LLP Accounting Tait, Weller, & Baker LLP Technology/IT Olmec Systems 20
Slide 21: Contact Information
Contact Information GoodHaven Capital Management, LLC 374 Millburn Avenue Suite 306 Millburn, NJ 07041 (305) 677-7650 | info@goodhavenllc.com www.goodhavenllc.com www.goodhavenfunds.com 21
Slide 22: General Disclosure
General Disclosure This document is for the confidential use of the original recipient and its dissemination to third parties or to any public forum without GoodHaven’s express written consent is strictly forbidden. It is intended for sophisticated investors only. GoodHaven Capital Management, LLC i
Slide 23: End Notes
End Notes The GoodHaven Fund’s investment objectives, risks, charges, and expenses must be considered carefully before investing. The statutory and summary prospectuses contain this and other information about the investment company, and may be obtained by calling 1-855-OK-GOODX (1-855-654-6639) or
Slide 24: End Notes
End Notes © 2026 Morningstar, Inc. All Rights Reserved. The information contained herein:(1) is proprietary to Morningstar; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages
Slide 25: Definitions
Definitions Portfolio Overview metrics are calculated using market prices as of 06/30/2026. 1. The 5 year growth rate calculation for the holdings in the GoodHaven Fund is defined as the weighted average growth rate of the five years from 2021 year end to estimated 2026 earnings per share (“EPS”) ba
GoodHaven Capital Management — Investor Presentation (July 2026) on 6ix