TAM

Third Avenue Management Portfolio holdings

AUM $625M Turnover 10.53%
1-Year Est. Return 48.93%
This Fund
S&P 500
This Quarter Est. Return
+5.74%
1 Year Est. Return
+48.93%
3 Year Est. Return
+112.7%
5 Year Est. Return
+169.82%
10 Year Est. Return
+390.58%
AUM
$5.18B
AUM Growth
+$21.6M
Cap. Flow
-$232M
Cap. Flow %
-4.48%
Top 10 Hldgs %
32.21%
Holding
171
New
14
Increased
36
Reduced
72
Closed
20
Avg Time Held
0.8 years
Top 10 Avg Time Held
0.7 years
Top 20 Avg Time Held
0.9 years

Top Buys

Rank Stock Value
1
WY icon
Weyerhaeuser
WY
+$85.7M
2
AGCO icon
AGCO
AGCO
+$55.6M
3
PDCO icon
Patterson Companies, Inc.
PDCO
+$24.4M
4
CTB
Cooper Tire & Rubber Co.
CTB
+$18M
5
ARCO icon
Arcos Dorados Holdings
ARCO
+$16.5M

Top Sells

Rank Stock Value
1
CMP icon
Compass Minerals
CMP
+$38.3M
2
DVN icon
Devon Energy
DVN
+$35.8M
3
SXT icon
Sensient Technologies
SXT
+$34.9M
4
BN icon
Brookfield
BN
+$34.8M
5
SUSS
SUSSER HOLDINGS CORPORATION COMMON STOCK
SUSS
+$33.6M

Sector Composition

Rank Sector Weight
1 Financials 22.73%
2 Real Estate 17.99%
3 Industrials 11.99%
4 Technology 10.47%
5 Energy 10.08%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow Held Since
AGCO icon
26
AGCO
AGCO
$7.48B
$56.6M 1.09%
+1,006,478
New +$55.6M
2014 Q2
0 quarters
HCC icon
27
DELISTED
HCC INSURANCES HOLDINGS INC
HCC
$51.3M 0.99%
1,048,935
-185,663
-15% -$8.65M
2013 Q2
4 quarters
SKT icon
28
Tanger
SKT
$3.94B
$50.8M 0.98%
1,452,448
-23,022
-2% -$819K
2013 Q3
3 quarters
AXLL
29
DELISTED
AXIALL CORP COM STK (DE)
AXLL
$49.1M 0.95%
1,037,796
-210,023
-17% -$9.71M
2013 Q2
4 quarters
HT
30
DELISTED
Hersha Hospitality Trust Priority Class A Common Shares of Beneficial Interest
HT
$42.1M 0.81%
1,568,258
+3,575
+0.2% +$87.4K
2013 Q3
3 quarters
RSTI
31
DELISTED
Rofin-Sinar Technologies Inc
RSTI
$40.8M 0.79%
1,699,162
-49,569
-3% -$1.15M
2013 Q2
4 quarters
WKC icon
32
World Kinect Corp
WKC
$1.88B
$40.6M 0.78%
825,488
+50,079
+6% +$2.29M
2013 Q4
2 quarters
PRGS icon
33
Progress Software
PRGS
$1.58B
$39.7M 0.77%
1,650,889
-139,078
-8% -$3.03M
2013 Q2
4 quarters
SYNT
34
DELISTED
Syntel Inc
SYNT
$39.1M 0.75%
910,340
+273,710
+43% +$11.3M
2013 Q2
4 quarters
UNF icon
35
Unifirst Corp
UNF
$4.67B
$38.3M 0.74%
360,951
-23,584
-6% -$2.33M
2013 Q2
4 quarters
SEMG icon
36
DELISTED
SEMGROUP CORPORATION
SEMG
$38.1M 0.74%
483,807
-102,722
-18% -$6.98M
2013 Q2
4 quarters
CKH
37
DELISTED
Seacor Holdings Inc.
CKH
$37.9M 0.73%
475,836
+47,123
+11% +$3.76M
2013 Q2
4 quarters
EME icon
38
Emcor
EME
$32.9B
$36.3M 0.7%
814,436
-122,013
-13% -$5.54M
2013 Q2
4 quarters
LXU icon
39
LSB Industries
LXU
$727M
$35.2M 0.68%
1,096,739
-314,720
-22% -$9.37M
2013 Q2
4 quarters
LM
40
DELISTED
Legg Mason, Inc.
LM
$34.5M 0.67%
672,688
-201,700
-23% -$9.72M
2013 Q4
2 quarters
ENS icon
41
EnerSys
ENS
$6.26B
$34.4M 0.66%
499,585
-73,404
-13% -$4.99M
2013 Q2
4 quarters
FCN icon
42
FTI Consulting
FCN
$3.87B
$34.3M 0.66%
905,782
-63,353
-7% -$2.09M
2013 Q3
3 quarters
TTEK icon
43
Tetra Tech
TTEK
$8.61B
$34.1M 0.66%
6,191,255
-914,105
-13% -$5M
2013 Q2
4 quarters
G icon
44
Genpact
G
$5.91B
$33.9M 0.65%
1,934,499
-215,499
-10% -$3.68M
2014 Q1
1 quarter
MTX icon
45
Minerals Technologies
MTX
$1.96B
$33.4M 0.64%
509,175
-141,213
-22% -$8.82M
2013 Q2
4 quarters
PB icon
46
Prosperity Bancshares
PB
$8.02B
$33.3M 0.64%
532,553
+207,179
+64% +$12.5M
2014 Q1
1 quarter
MSGS icon
47
Madison Square Garden
MSGS
$9.73B
$33.3M 0.64%
748,186
+233,534
+45% +$9.18M
2013 Q2
4 quarters
PNC.WS icon
48
DELISTED
PNC Financial Services Group Inc
PNC.WS
$33.2M 0.64%
1,283,250
– –
2013 Q2
4 quarters
MDRX
49
DELISTED
Veradigm Inc. Common Stock
MDRX
$32.5M 0.63%
2,025,793
+317,075
+19% +$4.94M
2013 Q2
4 quarters
KALU icon
50
Kaiser Aluminum
KALU
$2.42B
$31.8M 0.61%
436,533
-31,569
-7% -$2.23M
2013 Q2
4 quarters
1
2
3 4 5

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B
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CWM
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LWP
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FGA
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BVC
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APM
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DCM
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Third Avenue Management's Q2 2014 Portfolio in Review

As of Q2 2014, Third Avenue Management held 171 positions worth $5.18B, up 0.42% from $5.16B the previous quarter. Its ten largest holdings account for 32% of the portfolio.

Third Avenue Management withdrew a net $232M in Q2 2014, closing 20 positions and reducing 72 holdings. Its most notable exit was Compass Minerals, an estimated $38.3M position sold in full.

By sector, the portfolio is most concentrated in Financials at 23% of assets, down from 24% a quarter earlier, followed by Real Estate and Industrials.

Against the trend, Third Avenue Management opened a new position in AGCO worth $56.6M.

  • Third Avenue Management's largest Q2 2014 buy was AGCO: 1,006,478 shares worth $56.6M.
  • Third Avenue Management added most to Weyerhaeuser in Q2 2014, an estimated $85.7M increase.
  • Third Avenue Management's biggest Q2 2014 reduction was Devon Energy, cutting an estimated $35.8M.
  • Third Avenue Management fully exited Compass Minerals in Q2 2014, selling an estimated $38.3M.
  • Third Avenue Management's ten largest holdings make up 32% of its $5.18B portfolio in Q2 2014.
  • Third Avenue Management opened 14 new positions and closed 20 in Q2 2014.
  • Third Avenue Management's portfolio value rose 0.42% quarter-over-quarter to $5.18B.

Based on Third Avenue Management's 13F filing for Q2 2014, filed 14 Aug 2014.