Investor Letters
Letters through November 30, 2023
2 letters reporting on the period ending November 30, 2023, in each firm's own reckoning.
- GoodHaven Capital Management Annual Report GoodHaven Fund increased Bank of America, Devon, Berkshire Hathaway, Occidental Petroleum warrants and Goldman Sachs, while initiating Camden Property Trust after weakness in banks, energy and real estate. It exited Alibaba after judging its thesis flawed, and argues that Builders FirstSource, Lennar, KKR and TerraVest retain durable growth and capital-allocation advantages. fiscal year 2023 BAC $377BBLDR $5.6BBRK.A $1.1T
- GoodHaven Capital Management 2023 Annual Letter to Shareholders GoodHaven added materially to Bank of America, Devon, Berkshire Hathaway, Goldman Sachs and Occidental Petroleum warrants, while opening a position in Camden Property Trust after weakness in financials, energy and real estate. It sold Alibaba after concluding its thesis was flawed, and argues that Builders FirstSource, Lennar, KKR and TerraVest retain durable earnings and capital-allocation advantages. fiscal year 2023 BAC $377BBLDR $5.6BBRK.A $1.1T
