FNMFO - The GoodHaven Fund 2024 Annual Letter To Shareholders
2025-02-12 11:05:00 ET
Summary
- The GoodHaven Fund achieved a 32.97% return in fiscal 2024, slightly underperforming the S&P 500 but outperforming it since GoodHaven 2.0's inception.
- Our portfolio boasts lower valuations and better earnings growth than the S&P 500, achieved without leverage and despite high cash levels.
- We focus on both relative and absolute long-term returns, emphasizing high-quality companies and special situations with significant upside potential.
- Key investments include Jefferies, Berkshire Hathaway, and TerraVest, with recent additions in Berkshire, Chubb, Arrow Electronics, and Exor.
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PERFORMANCE as of November 30, 2024
1 Year Ended 11/30/2024 |
2 Year Annualized as of 11/30/2024 |
12/31/19-11/30/24 Annualized as of 11/30/2024 |
5 Years Annualized as of 11/30/2024 |
10 Years Annualized as of 11/30/2024 |
Since Incept. 1 Annualized as of 11/30/2024 |
32.97% |
26.45% |
16.80% |
17.60% |
8.41% |
8.61% |
S&P 500 Index 2 |
33.89% |
23.43% |
15.33% |
15.77% |
13.35% |
13.88% |
FT Wilshire 5000 Full Cap Index |
33.22% |
21.52% |
12.96% |
13.32% |
10.66% |
11.16% |
CS Hedge Fund Index 3 |
10.64% |
7.89% |
6.34% |
6.56% |
4.42% |
4.43% |