GoodHaven Fund

GoodHaven Fund 2013 Letter: Bullish On Gold Miners, Nat Gas

GoodHaven Fund 2013 Letter (Fairholme alums)

Dear Fellow Shareholders of the GoodHaven Fund (the “Fund”):

For the Fund, last fiscal year was a tale of two six-month periods. In a red-hotstock market, we ended the first six months up roughly 17%

, slightly outperforming the S&P 500 index despite a large cash position and maintaining a significan t advantage versus the S&P since inception. For the second six months, the value of . . .

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