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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
+7.09%
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
$5.17B
AUM Growth
+$75.1M
Cap. Flow
-$252M
Cap. Flow %
-4.88%
Top 10 Hldgs %
35.08%
Holding
169
New
24
Increased
45
Reduced
52
Closed
6

Top Buys

Rank Stock Value
1
CVCO icon
Cavco Industries
CVCO
+$102M
2
SKT icon
Tanger
SKT
+$45.7M
3
HT
Hersha Hospitality Trust Priority Class A Common Shares of Beneficial Interest
HT
+$35.5M
4
BKD icon
Brookdale Senior Living
BKD
+$27.1M
5
AXLL
AXIALL CORP COM STK (DE)
AXLL
+$21.5M

Top Sells

Rank Stock Value
1
AMAT icon
Applied Materials
AMAT
+$132M
2
KEY icon
KeyCorp
KEY
+$93.4M
3
FCE.A
Forest City Realty Trust, Inc.
FCE.A
+$61.5M
4
HAR
Harman International Industries
HAR
+$41.2M
5
BNY
Bank of New York Mellon
BNY
+$40M

Sector Composition

Rank Sector Weight
1 Financials 25.42%
2 Real Estate 14.22%
3 Industrials 12.5%
4 Materials 10.24%
5 Energy 9.55%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
MTX icon
51
Minerals Technologies
MTX
$2.31B
$30.8M 0.6%
623,872
-46,801
-7% -$2.16M
SCL icon
52
Stepan Co
SCL
$1.31B
$30.8M 0.6%
533,312
+61,545
+13% +$3.56M
EQC
53
DELISTED
Equity Commonwealth
EQC
$29.8M 0.58%
1,359,990
– –
WIRE
54
DELISTED
Encore Wire Corp
WIRE
$29.4M 0.57%
746,563
– –
MAGN
55
Magnera Corp
MAGN
$488M
$29.3M 0.57%
83,188
+6,535
+9% +$2.26M
IM
56
DELISTED
Ingram Micro
IM
$29M 0.56%
1,257,495
-1,391,825
-53% -$30.7M
MANT
57
DELISTED
Mantech International Corp
MANT
$28.9M 0.56%
1,004,966
-436,611
-30% -$12.3M
CALM icon
58
Cal-Maine
CALM
$4.28B
$28.8M 0.56%
1,196,064
+96,606
+9% +$2.34M
PDS
59
Precision Drilling
PDS
$1.09B
$28.2M 0.54%
141,641
+270
+0.2% +$53.6K
ABM icon
60
ABM Industries
ABM
$2.8B
$27.7M 0.54%
1,041,798
+15,175
+1% +$389K
SYNT
61
DELISTED
Syntel Inc
SYNT
$25.6M 0.49%
638,550
+15,170
+2% +$551K
ALG icon
62
Alamo Group
ALG
$2.01B
$25M 0.48%
510,789
-15,000
-3% -$676K
SUSS
63
DELISTED
SUSSER HOLDINGS CORPORATION COMMON STOCK
SUSS
$24.7M 0.48%
463,919
+340,444
+276% +$17M
NEM icon
64
Newmont
NEM
$99.5B
$24.6M 0.48%
874,219
-60,270
-6% -$1.79M
BRS
65
DELISTED
Bristow Group, Inc.
BRS
$22.3M 0.43%
306,693
-19,428
-6% -$1.33M
AVX
66
DELISTED
AVX Corporation
AVX
$22.1M 0.43%
1,686,086
-384,806
-19% -$4.99M
MSGS icon
67
Madison Square Garden
MSGS
$9.54B
$21.4M 0.41%
516,626
-269,522
-34% -$11.3M
H icon
68
Hyatt Hotels
H
$17.6B
$21.1M 0.41%
490,229
-1,170
-0.2% -$51.3K
CTO
69
CTO Realty Growth
CTO
$743M
$20.9M 0.4%
2,001,259
– –
UMBF icon
70
UMB Financial
UMBF
$10.7B
$20.7M 0.4%
381,800
+251,414
+193% +$14.7M
MDRX
71
DELISTED
Veradigm Inc. Common Stock
MDRX
$20.5M 0.4%
1,380,244
+249,107
+22% +$3.76M
MTN icon
72
Vail Resorts
MTN
$5.19B
$20.1M 0.39%
289,337
-89,737
-24% -$6.07M
WHG icon
73
Westwood Holdings Group
WHG
$182M
$19.9M 0.39%
414,877
– –
PNC.WS
74
DELISTED
PNC Financial Services Group Inc
PNC.WS
$19.9M 0.38%
1,289,241
– –
NSIT icon
75
Insight Enterprises
NSIT
$3.55B
$19.5M 0.38%
+1,032,290
New +$20.8M
1 2
3
4 5

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Third Avenue Management's Q3 2013 Portfolio in Review

As of Q3 2013, Third Avenue Management held 169 positions worth $5.17B, up 1.5% from $5.1B the previous quarter. Its ten largest holdings account for 35% of the portfolio.

Third Avenue Management withdrew a net $252M in Q3 2013, closing 6 positions and reducing 52 holdings. Its most notable exit was Applied Materials, an estimated $132M position sold in full.

By sector, the portfolio is most concentrated in Financials at 25% of assets, down from 28% a quarter earlier, followed by Real Estate and Industrials.

Against the trend, Third Avenue Management opened a new position in Tanger worth $45.5M.

  • Third Avenue Management's largest Q3 2013 buy was Tanger: 1,394,811 shares worth $45.5M.
  • Third Avenue Management added most to Cavco Industries in Q3 2013, an estimated $102M increase.
  • Third Avenue Management's biggest Q3 2013 reduction was KeyCorp, cutting an estimated $93.4M.
  • Third Avenue Management fully exited Applied Materials in Q3 2013, selling an estimated $132M.
  • Third Avenue Management's ten largest holdings make up 35% of its $5.17B portfolio in Q3 2013.
  • Third Avenue Management opened 24 new positions and closed 6 in Q3 2013.
  • Third Avenue Management's portfolio value rose 1.5% quarter-over-quarter to $5.17B.

Based on Third Avenue Management's 13F filing for Q3 2013, filed 14 Nov 2013.