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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
VTG
126
DELISTED
VANTAGE DRILLING COMPANY ORD SHS (KY)
VTG
$2.42M 0.05%
1,400,000
+150,000
+12% +$270K
FHY
127
DELISTED
First Trust Strategic High
FHY
$2.4M 0.05%
+150,793
New +$2.34M
ANV
128
DELISTED
Allied Nevada Gold Corp
ANV
$2.38M 0.05%
+568,205
New +$2.96M
CYE
129
DELISTED
BLACKROCK CORP HG YLD FD III, INC.
CYE
$2.29M 0.04%
+314,366
New +$2.25M
TRNO icon
130
Terreno Realty
TRNO
$7.68B
$2.15M 0.04%
121,290
– –
GHY
131
PGIM Global High Yield Fund
GHY
$478M
$2.14M 0.04%
+122,868
New +$2.12M
EAD
132
Allspring Income Opportunities Fund
EAD
$372M
$2.1M 0.04%
+232,918
New +$2.09M
EGO icon
133
Eldorado Gold
EGO
$8.31B
$2.04M 0.04%
60,320
+35,180
+140% +$1.34M
CMA.WS
134
DELISTED
Comerica Incorporated Ws
CMA.WS
$1.8M 0.03%
130,000
– –
HAE icon
135
Haemonetics
HAE
$3.58B
$1.68M 0.03%
42,000
– –
HIS
136
DELISTED
BLACKROCK HIGH INCM SHS SHS BEN INT
HIS
$1.66M 0.03%
+799,788
New +$1.65M
SBSA
137
DELISTED
Spanish Broadcasting System Inc.
SBSA
$1.55M 0.03%
382,686
– –
ALX
138
Alexander's
ALX
$1.4B
$1.43M 0.03%
5,000
– –
CIF
139
DELISTED
MFS Intermediate High Income Fund
CIF
$1.33M 0.03%
+480,650
New +$1.33M
JAKK icon
140
Jakks Pacific
JAKK
$280M
$1.2M 0.02%
26,704
-95,600
-78% -$6.2M
WLT
141
DELISTED
WALTER ENERGY INC COM STK (DE)
WLT
$1.12M 0.02%
+80,100
New +$1.02M
HIO
142
Western Asset High Income Opportunity Fund
HIO
$335M
$1.07M 0.02%
+179,449
New +$1.05M
TRC.WS
143
DELISTED
TEJON RANCH CO WTS EXP 8/31/2016 (DE)
TRC.WS
$1.03M 0.02%
+372,073
New +$1.26M
BPO
144
DELISTED
BROOKFIELD OFFICE PROPERTIES. INC
BPO
$716K 0.01%
37,550
– –
SNY icon
145
Sanofi
SNY
$104B
$700K 0.01%
13,830
+640
+5% +$32.6K
CDR
146
DELISTED
Cedar Realty Trust, Inc
CDR
$689K 0.01%
20,152
– –
ITG
147
DELISTED
Investment Technology Group Inc
ITG
$641K 0.01%
40,787
-786,485
-95% -$12.4M
CVE icon
148
Cenovus Energy
CVE
$54.6B
$573K 0.01%
19,200
– –
EFF
149
DELISTED
EATON VANCE FLOATING-RATE INCOME PLUS FUND
EFF
$545K 0.01%
+30,551
New +$593K
KIM icon
150
Kimco Realty
KIM
$17.6B
$526K 0.01%
26,045
– –
3 4 5
6
7

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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.