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TAM

Third Avenue Management Portfolio holdings

AUM $625M
1-Year Est. Return 48.93%
This Fund
S&P 500
This Quarter Est. Return
+5.65%
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
$3.97B
AUM Growth
-$799M
Cap. Flow
-$1B
Cap. Flow %
-25.28%
Top 10 Hldgs %
37.65%
Holding
155
New
9
Increased
35
Reduced
79
Closed
16

Top Buys

Rank Stock Value
1
GM icon
General Motors
GM
+$59.9M
2
RYN icon
Rayonier
RYN
+$58.2M
3
PARA
Paramount Global Class B
PARA
+$29.9M
4
VMI icon
Valmont Industries
VMI
+$24.3M
5
BKD icon
Brookdale Senior Living
BKD
+$20.7M

Top Sells

Rank Stock Value
1
CVA
Covanta Holding Corporation
CVA
+$55M
2
HCC
HCC INSURANCES HOLDINGS INC
HCC
+$38.1M
3
PRGS icon
Progress Software
PRGS
+$31.1M
4
SYNT
Syntel Inc
SYNT
+$29.4M
5
LOW icon
Lowe's Companies
LOW
+$28.2M

Sector Composition

Rank Sector Weight
1 Real Estate 29.29%
2 Financials 25.1%
3 Consumer Discretionary 9.14%
4 Industrials 7.92%
5 Energy 5.8%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
TTEK icon
51
Tetra Tech
TTEK
$9.19B
$10.9M 0.28%
2,043,325
-4,147,930
-67% -$21.7M
SYNT
52
DELISTED
Syntel Inc
SYNT
$10.8M 0.27%
239,958
-670,382
-74% -$29.4M
PDCO
53
DELISTED
Patterson Companies, Inc.
PDCO
$10.2M 0.26%
212,281
-450,740
-68% -$20.3M
BRS
54
DELISTED
Bristow Group, Inc.
BRS
$9.98M 0.25%
151,731
-14,407
-9% -$973K
B
55
DELISTED
Barnes Group Inc.
B
$9.78M 0.25%
+264,348
New +$9.28M
PB icon
56
Prosperity Bancshares
PB
$8.75B
$9.41M 0.24%
169,968
-362,585
-68% -$20.6M
CSGS
57
DELISTED
CSG Systems International
CSGS
$8.85M 0.22%
353,141
-777,612
-69% -$19.9M
UMBF icon
58
UMB Financial
UMBF
$10.9B
$8.83M 0.22%
155,202
-330,493
-68% -$18.6M
CUB
59
DELISTED
Cubic Corporation
CUB
$8.59M 0.22%
163,164
-346,177
-68% -$17M
WCIC
60
DELISTED
WCI Communities, Inc.
WCIC
$8.48M 0.21%
432,870
+375,768
+658% +$6.98M
AXE
61
DELISTED
Anixter International Inc
AXE
$8.47M 0.21%
95,709
-90,686
-49% -$7.68M
HYI
62
Western Asset High Yield Opportunity Fund Inc
HYI
$132M
$8.39M 0.21%
531,872
-41,778
-7% -$678K
LXU icon
63
LSB Industries
LXU
$814M
$8.32M 0.21%
344,044
-752,695
-69% -$19.3M
SXC icon
64
SunCoke Energy
SXC
$877M
$8.14M 0.21%
420,981
-893,235
-68% -$18.7M
DAR icon
65
Darling Ingredients
DAR
$10.3B
$8.03M 0.2%
442,025
-936,996
-68% -$16.9M
ARCO icon
66
Arcos Dorados Holdings
ARCO
$1.72B
$8M 0.2%
1,520,358
-248,053
-14% -$1.46M
ENS icon
67
EnerSys
ENS
$6.56B
$7.9M 0.2%
128,000
-371,585
-74% -$21.9M
CBSH icon
68
Commerce Bancshares
CBSH
$8.37B
$7.89M 0.2%
310,146
-686,852
-69% -$17.1M
MDRX
69
DELISTED
Veradigm Inc. Common Stock
MDRX
$7.87M 0.2%
615,859
-1,314,934
-68% -$16.8M
SMP icon
70
Standard Motor Products
SMP
$928M
$7.85M 0.2%
206,030
-437,721
-68% -$16.4M
LABL
71
DELISTED
Multi-Color Corp
LABL
$7.75M 0.2%
139,909
-472,670
-77% -$24.3M
MTN icon
72
Vail Resorts
MTN
$4.81B
$7.7M 0.19%
84,439
-167,014
-66% -$14.5M
KALU icon
73
Kaiser Aluminum
KALU
$2.68B
$7.68M 0.19%
107,548
-228,026
-68% -$16.5M
SCL icon
74
Stepan Co
SCL
$1.44B
$7.55M 0.19%
188,471
-400,644
-68% -$17M
CFR icon
75
Cullen/Frost Bankers
CFR
$10.1B
$7.53M 0.19%
106,577
-94,253
-47% -$7.11M
1 2
3
4 5

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Third Avenue Management's Q4 2014 Portfolio in Review

As of Q4 2014, Third Avenue Management held 155 positions worth $3.97B, down 17% from $4.77B the previous quarter. Its ten largest holdings account for 38% of the portfolio.

Third Avenue Management withdrew a net $1B in Q4 2014, closing 16 positions and reducing 79 holdings. Its most notable exit was InterDigital, an estimated $25.8M position sold in full.

By sector, the portfolio is most concentrated in Real Estate at 29% of assets, up from 22% a quarter earlier, followed by Financials and Consumer Discretionary.

Against the trend, Third Avenue Management opened a new position in Valmont Industries worth $23.1M.

  • Third Avenue Management's largest Q4 2014 buy was Valmont Industries: 181,983 shares worth $23.1M.
  • Third Avenue Management added most to General Motors in Q4 2014, an estimated $59.9M increase.
  • Third Avenue Management's biggest Q4 2014 reduction was Covanta Holding Corporation, cutting an estimated $55M.
  • Third Avenue Management fully exited InterDigital in Q4 2014, selling an estimated $25.8M.
  • Third Avenue Management's ten largest holdings make up 38% of its $3.97B portfolio in Q4 2014.
  • Third Avenue Management opened 9 new positions and closed 16 in Q4 2014.
  • Third Avenue Management's portfolio value fell 17% quarter-over-quarter to $3.97B.

Based on Third Avenue Management's 13F filing for Q4 2014, filed 13 Feb 2015.