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TAM

Third Avenue Management Portfolio holdings

AUM $616M
1-Year Est. Return 45.6%
This Fund
S&P 500
This Quarter Est. Return
+2.46%
1 Year Est. Return
+45.6%
3 Year Est. Return
+111.18%
5 Year Est. Return
+162.64%
10 Year Est. Return
+374.2%
AUM
$5.16B
AUM Growth
-$293M
Cap. Flow
-$392M
Cap. Flow %
-7.6%
Top 10 Hldgs %
30.12%
Holding
181
New
11
Increased
41
Reduced
61
Closed
24

Top Buys

Rank Stock Value
1
G icon
Genpact
G
+$36.3M
2
APA icon
APA Corp
APA
+$31.7M
3
LABL
Multi-Color Corp
LABL
+$28.7M
4
EQC
Equity Commonwealth
EQC
+$27.1M
5
PHH
PHH Corporation
PHH
+$24M

Top Sells

Rank Stock Value
1
BNY
Bank of New York Mellon
BNY
+$60.2M
2
PKY
Parkway, Inc.
PKY
+$56.2M
3
JEF icon
Jefferies Financial Group
JEF
+$55.9M
4
WY icon
Weyerhaeuser
WY
+$50.5M
5
WTM icon
White Mountains Insurance
WTM
+$48.6M

Sector Composition

Rank Sector Weight
1 Financials 23.79%
2 Real Estate 15.33%
3 Industrials 11.08%
4 Materials 10.72%
5 Energy 10.17%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
AXLL
26
DELISTED
AXIALL CORP COM STK (DE)
AXLL
$56.1M 1.09%
1,247,819
+58,295
+5% +$2.49M
SKT icon
27
Tanger
SKT
$4.81B
$51.6M 1%
1,475,470
-5,640
-0.4% -$192K
EME icon
28
Emcor
EME
$33.1B
$43.8M 0.85%
936,449
-433,511
-32% -$19.1M
LM
29
DELISTED
Legg Mason, Inc.
LM
$42.9M 0.83%
874,388
+18,900
+2% +$842K
GEN icon
30
Gen Digital
GEN
$15.6B
$42.8M 0.83%
2,145,287
+178,482
+9% +$3.82M
UNF icon
31
Unifirst Corp
UNF
$5.32B
$42.3M 0.82%
384,535
-42,625
-10% -$4.63M
TTEK icon
32
Tetra Tech
TTEK
$8.22B
$42M 0.81%
7,105,360
– –
MTX icon
33
Minerals Technologies
MTX
$2.31B
$42M 0.81%
650,388
+28,251
+5% +$1.6M
RSTI
34
DELISTED
Rofin-Sinar Technologies Inc
RSTI
$41.9M 0.81%
1,748,731
+47,391
+3% +$1.13M
LXU icon
35
LSB Industries
LXU
$881M
$40.6M 0.79%
1,411,459
-41,152
-3% -$1.11M
SCL icon
36
Stepan Co
SCL
$1.31B
$39.8M 0.77%
617,103
– –
ENS icon
37
EnerSys
ENS
$6.94B
$39.7M 0.77%
572,989
-29,129
-5% -$2.04M
TFX icon
38
Teleflex
TFX
$5.84B
$39.6M 0.77%
369,692
– –
PRGS icon
39
Progress Software
PRGS
$1.55B
$39M 0.76%
1,789,967
– –
SEMG
40
DELISTED
SEMGROUP CORPORATION
SEMG
$38.5M 0.75%
586,529
-312,952
-35% -$19.9M
CMP icon
41
Compass Minerals
CMP
$1.24B
$38.3M 0.74%
464,147
-83,396
-15% -$6.89M
G icon
42
Genpact
G
$5.31B
$37.5M 0.73%
+2,149,998
New +$36.3M
HT
43
DELISTED
Hersha Hospitality Trust Priority Class A Common Shares of Beneficial Interest
HT
$36.5M 0.71%
1,564,683
-16,769
-1% -$374K
CKH
44
DELISTED
Seacor Holdings Inc.
CKH
$35.8M 0.69%
428,713
-21,764
-5% -$1.81M
SXT icon
45
Sensient Technologies
SXT
$5.4B
$34.9M 0.68%
618,625
-248,772
-29% -$12.8M
WKC icon
46
World Kinect Corp
WKC
$1.96B
$34.2M 0.66%
775,409
+177,415
+30% +$7.84M
SUSS
47
DELISTED
SUSSER HOLDINGS CORPORATION COMMON STOCK
SUSS
$33.6M 0.65%
538,176
– –
KALU icon
48
Kaiser Aluminum
KALU
$2.67B
$33.4M 0.65%
468,102
– –
SXC icon
49
SunCoke Energy
SXC
$759M
$32.7M 0.63%
1,431,916
+203,285
+17% +$4.48M
UMBF icon
50
UMB Financial
UMBF
$10.7B
$32.6M 0.63%
503,860
+104,211
+26% +$6.51M
1
2
3 4 5

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ACP
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Third Avenue Management's Q1 2014 Portfolio in Review

As of Q1 2014, Third Avenue Management held 181 positions worth $5.16B, down 5.4% from $5.46B the previous quarter. Its ten largest holdings account for 30% of the portfolio.

Third Avenue Management withdrew a net $392M in Q1 2014, closing 24 positions and reducing 61 holdings. Its most notable exit was Parkway, Inc., an estimated $56.2M position sold in full.

By sector, the portfolio is most concentrated in Financials at 24% of assets, down from 26% a quarter earlier, followed by Real Estate and Industrials.

Against the trend, Third Avenue Management opened a new position in Genpact worth $37.5M.

  • Third Avenue Management's largest Q1 2014 buy was Genpact: 2,149,998 shares worth $37.5M.
  • Third Avenue Management added most to APA Corp in Q1 2014, an estimated $31.7M increase.
  • Third Avenue Management's biggest Q1 2014 reduction was Bank of New York Mellon, cutting an estimated $60.2M.
  • Third Avenue Management fully exited Parkway, Inc. in Q1 2014, selling an estimated $56.2M.
  • Third Avenue Management's ten largest holdings make up 30% of its $5.16B portfolio in Q1 2014.
  • Third Avenue Management opened 11 new positions and closed 24 in Q1 2014.
  • Third Avenue Management's portfolio value fell 5.4% quarter-over-quarter to $5.16B.

Based on Third Avenue Management's 13F filing for Q1 2014, filed 14 May 2014.