Investor Letters

Letters through November 30, 2022

1 letter reporting on the period ending November 30, 2022, in each firm's own reckoning.

GoodHaven Capital Management Shareholder Letter GoodHaven Fund added to KKR and materially increased Exor, arguing that both retain substantial long-term value despite a tougher rate environment. It maintained major holdings in Alphabet and Berkshire Hathaway, while monitoring Meta’s spending and competition from TikTok, and positioned for firmer pricing in auto insurance through Progressive. 2022 fiscal year BRK.A $1.1TDVN $54BEXXRF $16B