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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
(-5.4%)
Cap. Flow
-$392M
Cap. Flow
% of AUM
-7.6%
Top 10 Holdings %
Top 10 Hldgs %
30.12%
Holding
181
New
11
Increased
41
Reduced
61
Closed
24
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Genpact
G
|
+$36.3M |
| 2 |
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 |
Jefferies Financial Group
JEF
|
+$55.9M |
| 4 |
Weyerhaeuser
WY
|
+$50.5M |
| 5 |
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 | |
|---|---|---|---|---|---|---|
51
FTI Consulting
FCN
$4.82B
| $32.3M | 0.63% |
969,135
+482,795
| +99% | +$16.9M |
|
52
Insight Enterprises
NSIT
$3.55B
| $32M | 0.62% |
1,272,905
| – | – |
|
|
EFII
53
DELISTED
Electronics for Imaging
EFII
| $31.7M | 0.61% |
732,222
-582,985
| -44% | -$24.6M |
|
|
MDRX
54
DELISTED
Veradigm Inc. Common Stock
MDRX
| $30.8M | 0.6% |
1,708,718
+173,253
| +11% | +$3M |
|
|
PNC.WS
55
DELISTED
PNC Financial Services Group Inc
PNC.WS
| $30.3M | 0.59% |
1,283,250
-3,634
| -0.3% | -$74.9K |
|
56
Kennametal
KMT
$2.68B
| $29M | 0.56% |
654,283
-146,590
| -18% | -$6.71M |
|
|
LABL
57
DELISTED
Multi-Color Corp
LABL
| $28.9M | 0.56% |
+826,659
| New | +$28.7M |
|
|
SYNT
58
DELISTED
Syntel Inc
SYNT
| $28.6M | 0.55% |
636,630
| – | – |
|
59
Arch Capital
ACGL
$36.1B
| $27.4M | 0.53% |
1,429,572
-897,123
| -39% | -$16.6M |
|
60
Liberty Media Series A
FWONA
$22.3B
| $27.1M | 0.53% |
1,167,949
-537,398
| -32% | -$12.8M |
|
|
CSGS
61
DELISTED
CSG Systems International
CSGS
| $26.8M | 0.52% |
1,028,299
+75,084
| +8% | +$2.12M |
|
62
Darling Ingredients
DAR
$9.93B
| $26.7M | 0.52% |
1,334,847
+87,621
| +7% | +$1.76M |
|
63
Westwood Holdings Group
WHG
$182M
| $26M | 0.5% |
414,877
| – | – |
|
|
MANT
64
DELISTED
Mantech International Corp
MANT
| $25.4M | 0.49% |
863,640
+20,067
| +2% | +$589K |
|
65
Cal-Maine
CALM
$4.28B
| $25.3M | 0.49% |
805,232
-387,152
| -32% | -$10.6M |
|
66
Alamo Group
ALG
$2.01B
| $25M | 0.48% |
460,001
-30,500
| -6% | -$1.65M |
|
67
Hyatt Hotels
H
$17.6B
| $24.9M | 0.48% |
463,363
-25,960
| -5% | -$1.32M |
|
68
Rayonier
RYN
$6.49B
| $24.8M | 0.48% |
798,487
+738,330
| +1,227% | +$22.2M |
|
69
InterDigital
IDCC
$6.68B
| $24.7M | 0.48% |
745,452
-36,159
| -5% | -$1.08M |
|
|
PHH
70
DELISTED
PHH Corporation
PHH
| $24.7M | 0.48% |
+954,725
| New | +$24M |
|
|
MAGN
71
Magnera Corp
MAGN
$488M
| $24.3M | 0.47% |
68,780
-22,070
| -24% | -$8.35M |
|
|
PDS
72
Precision Drilling
PDS
$1.09B
| $23.8M | 0.46% |
99,079
-42,575
| -30% | -$8.57M |
|
|
BRS
73
DELISTED
Bristow Group, Inc.
BRS
| $23.4M | 0.45% |
310,322
-4,606
| -1% | -$341K |
|
74
ICF International
ICFI
$1.44B
| $23.2M | 0.45% |
582,866
-542,364
| -48% | -$19.8M |
|
|
CYN
75
DELISTED
CITY NATIONAL CORPORATION
CYN
| $22.3M | 0.43% |
282,662
| – | – |
|
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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.