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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
+8.57%
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
$5.46B
AUM Growth
+$285M
Cap. Flow
-$82.6M
Cap. Flow %
-1.51%
Top 10 Hldgs %
33.81%
Holding
187
New
24
Increased
48
Reduced
72
Closed
17

Top Buys

Rank Stock Value
1
PKY
Parkway, Inc.
PKY
+$52.3M
2
PPS
Post Properties
PPS
+$34.1M
3
LM
Legg Mason, Inc.
LM
+$33.2M
4
IDCC icon
InterDigital
IDCC
+$26.5M
5
CSGS
CSG Systems International
CSGS
+$26.3M

Top Sells

Rank Stock Value
1
TLAB
TELLABS INC
TLAB
+$82.9M
2
TPGI
THOMAS PROPERTIES GROUP INC
TPGI
+$51.3M
3
OSK icon
Oshkosh
OSK
+$40.1M
4
DVN icon
Devon Energy
DVN
+$37.1M
5
ENS icon
EnerSys
ENS
+$29M

Sector Composition

Rank Sector Weight
1 Financials 26.32%
2 Real Estate 15.15%
3 Industrials 11.34%
4 Materials 11.04%
5 Energy 9.29%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
EXL
101
DELISTED
EXCEL TRUST , INC COM STK
EXL
$11.8M 0.22%
1,040,091
+97,600
+10% +$1.15M
CASS icon
102
Cass Information Systems
CASS
$698M
$11.3M 0.21%
221,376
-34,511
-13% -$1.54M
STRZA
103
DELISTED
Starz - Series A
STRZA
$10.4M 0.19%
355,012
-81,422
-19% -$2.34M
ASNA
104
DELISTED
Ascena Retail Group, Inc.
ASNA
$10.1M 0.19%
23,863
-9,317
-28% -$3.81M
FSD
105
DELISTED
FIRST TRUST HIGH INCOME LONG/SHORT FUND
FSD
$9.98M 0.18%
579,544
+413,430
+249% +$7.18M
GM icon
106
General Motors
GM
$74.7B
$9.05M 0.17%
221,467
+100,000
+82% +$3.78M
PES
107
DELISTED
Pioneer Energy Services Corp.
PES
$8.51M 0.16%
1,062,874
-457,321
-30% -$3.6M
CSWC icon
108
Capital Southwest
CSWC
$1.46B
$7.93M 0.15%
619,361
– –
UONEK icon
109
Urban One Class D
UONEK
$22.9M
$7.51M 0.14%
+198,058
New +$6.36M
MYGN icon
110
Myriad Genetics
MYGN
$530M
$6.89M 0.13%
+328,314
New +$8.3M
AEO icon
111
American Eagle Outfitters
AEO
$2.85B
$5.88M 0.11%
407,998
-210,069
-34% -$3.12M
AKS
112
DELISTED
AK Steel Holding Corp
AKS
$5.83M 0.11%
711,375
– –
ARDC
113
Are Dynamic Credit Allocation Fund
ARDC
$297M
$5.8M 0.11%
+322,875
New +$5.81M
DHG
114
DELISTED
Deutsche High Incm Opportunities
DHG
$5.67M 0.1%
393,556
+40,296
+11% +$571K
KELYA icon
115
Kelly Services Class A
KELYA
$526M
$5.61M 0.1%
225,000
– –
WW
116
DELISTED
WW International
WW
$5.44M 0.1%
165,285
-194,715
-54% -$6.79M
ANV
117
DELISTED
Allied Nevada Gold Corp
ANV
$5.39M 0.1%
1,519,455
+951,250
+167% +$3.57M
RFP
118
DELISTED
Resolute Forest Products Inc.
RFP
$5.05M 0.09%
315,495
– –
ESIO
119
DELISTED
Electro Scientific Industries
ESIO
$4.99M 0.09%
477,069
-500,835
-51% -$5.29M
NOR
120
DELISTED
NORANDA ALUM HLDG CORP COM NEW
NOR
$4.93M 0.09%
+214,286
New +$4M
NHS
121
Neuberger High Yield Strategies Fund Inc
NHS
$252M
$4.75M 0.09%
358,026
+128,881
+56% +$1.7M
B
122
Barrick Mining
B
$62.2B
$4.39M 0.08%
+249,447
New +$4.4M
FPO
123
DELISTED
First Potomac Realty Trust
FPO
$4.18M 0.08%
359,144
-29,271
-8% -$349K
HYT icon
124
BlackRock Corporate High Yield Fund
HYT
$1.36B
$4.05M 0.07%
+332,703
New +$3.96M
PCI
125
DELISTED
PIMCO Dynamic Credit and Mortgage Income Fund
PCI
$4.03M 0.07%
+179,209
New +$3.98M
3 4
5
6 7

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Third Avenue Management's Q4 2013 Portfolio in Review

As of Q4 2013, Third Avenue Management held 187 positions worth $5.46B, up 5.5% from $5.17B the previous quarter. Its ten largest holdings account for 34% of the portfolio.

Third Avenue Management's Q4 2013 filing shows 24 new, 48 increased, 72 reduced and 17 closed positions. Its largest new stake was Parkway, Inc.: 2,914,821 shares worth $56.2M. The largest sale was TELLABS INC, an estimated $82.9M.

By sector, the portfolio is most concentrated in Financials at 26% of assets, up from 25% a quarter earlier, followed by Real Estate and Industrials.

  • Third Avenue Management's largest Q4 2013 buy was Parkway, Inc.: 2,914,821 shares worth $56.2M.
  • Third Avenue Management added most to Post Properties in Q4 2013, an estimated $34.1M increase.
  • Third Avenue Management's biggest Q4 2013 reduction was Oshkosh, cutting an estimated $40.1M.
  • Third Avenue Management fully exited TELLABS INC in Q4 2013, selling an estimated $82.9M.
  • Third Avenue Management's ten largest holdings make up 34% of its $5.46B portfolio in Q4 2013.
  • Third Avenue Management opened 24 new positions and closed 17 in Q4 2013.
  • Third Avenue Management's portfolio value rose 5.5% quarter-over-quarter to $5.46B.

Based on Third Avenue Management's 13F filing for Q4 2013, filed 14 Feb 2014.