Barrons' Emily Bary profiled two PMs, Larry Pitkowsky and Keith Trauner, for their management of the Goodhaven [profile] Fund, which has had its assets move up from $224 million in late 2012 to $476 million at the end of June.

Some of the fund's largest holdings include Hewlett-Packard and Microsoft, both companies that are going through issues from exposure to personal computers and disappointing second quarter earnings, respectively, Bary writes. Bary quotes Trauner as saying he wasn't worried about HP as college students will always need personal computers and said he believes that Microsoft Office's subscription model will eventually succeed.

When asked why the fund runs a portfolio with the top 10 stocks consisting of half the portfolio, Trauner reveals himself as a Mae West fan to Bary, who quoted him as saying:

"I think it's the old Mae West quote: 'Too much of a good thing could be wonderful.' We want to have more money in what we think are our best ideas, and the bottom line is if you want to outperform over a significant period of time, your portfolio can't look like the index. And frankly, I don't know too many people who can know two or three hundred companies really well. We try to know things that we own as well as any other outside shareholder."

To read more, click here.  

Edited by: Casey Quinlan


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