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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
PB icon
76
Prosperity Bancshares
PB
$8.77B
$21.5M 0.42%
+325,374
New +$20.6M
CBSH icon
77
Commerce Bancshares
CBSH
$8.5B
$21.5M 0.42%
832,537
+47,868
+6% +$1.19M
CTO
78
CTO Realty Growth
CTO
$743M
$21.5M 0.42%
1,965,399
-29,141
-1% -$286K
ABM icon
79
ABM Industries
ABM
$2.8B
$21.4M 0.42%
745,547
-293,226
-28% -$8.17M
CUB
80
DELISTED
Cubic Corporation
CUB
$21.1M 0.41%
413,011
+15,000
+4% +$777K
MSGS icon
81
Madison Square Garden
MSGS
$9.54B
$20.8M 0.4%
514,652
-130
-0% -$5.34K
BIG
82
DELISTED
Big Lots, Inc.
BIG
$20.7M 0.4%
546,692
-23,773
-4% -$733K
WOOF
83
DELISTED
VCA Inc.
WOOF
$20.5M 0.4%
636,712
– –
MTN icon
84
Vail Resorts
MTN
$5.19B
$20.1M 0.39%
288,312
– –
CFR icon
85
Cullen/Frost Bankers
CFR
$10.3B
$17.9M 0.35%
230,230
– –
OSK icon
86
Oshkosh
OSK
$9.67B
$17.7M 0.34%
299,822
-144,879
-33% -$7.95M
WFC.WS
87
DELISTED
Wells Fargo & Company Ws
WFC.WS
$17.5M 0.34%
938,530
-2,148
-0.2% -$36.5K
WIRE
88
DELISTED
Encore Wire Corp
WIRE
$17.5M 0.34%
360,115
-105,513
-23% -$5.45M
AVX
89
DELISTED
AVX Corporation
AVX
$17.2M 0.33%
1,304,789
-134,703
-9% -$1.76M
CST
90
DELISTED
CST Brands, Inc.
CST
$15.4M 0.3%
493,587
– –
IM
91
DELISTED
Ingram Micro
IM
$15.3M 0.3%
517,330
-67,165
-11% -$1.8M
AVTA
92
DELISTED
Avantax, Inc. Common Stock
AVTA
$15.3M 0.3%
775,011
+50,616
+7% +$1.17M
VTOL icon
93
Bristow Group
VTOL
$1.35B
$15.1M 0.29%
257,277
+41,200
+19% +$2.42M
EPAC icon
94
Enerpac Tool Group
EPAC
$1.77B
$14.9M 0.29%
+435,210
New +$15M
AMH icon
95
American Homes 4 Rent
AMH
$12B
$14.7M 0.29%
880,720
– –
BR icon
96
Broadridge
BR
$17.2B
$14.6M 0.28%
393,358
– –
VLY icon
97
Valley National Bancorp
VLY
$7.93B
$14.4M 0.28%
1,384,409
+4,788
+0.3% +$48K
EXLS icon
98
EXL Service
EXLS
$4.23B
$14.1M 0.27%
+2,282,395
New +$12.6M
BTZ icon
99
BlackRock Credit Allocation Income Trust
BTZ
$930M
$13.9M 0.27%
1,031,228
+25,057
+2% +$331K
EXL
100
DELISTED
EXCEL TRUST , INC COM STK
EXL
$13.5M 0.26%
1,062,676
+22,585
+2% +$270K
2 3
4
5 6

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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.