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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
HYB
126
DELISTED
New America High Income Fund, Inc.
HYB
$3.96M 0.07%
409,902
+76,837
+23% +$736K
HYI
127
Western Asset High Yield Opportunity Fund Inc
HYI
$134M
$3.83M 0.07%
216,347
+187,405
+648% +$3.32M
MHY
128
DELISTED
WESTERN ASSET MANAGED HIGH INCOM FD INC. COM
MHY
$3.79M 0.07%
669,372
– –
COWN
129
DELISTED
Cowen Inc. Class A Common Stock
COWN
$3.57M 0.07%
228,209
-107,231
-32% -$1.64M
BELFB
130
Bel Fuse Inc Class B
BELFB
$3.88B
$3.33M 0.06%
156,384
-374,437
-71% -$7.6M
TG icon
131
Tredegar Corp
TG
$268M
$2.87M 0.05%
+99,474
New +$2.66M
CQB
132
DELISTED
CHIQUITA BRANDS INTL (NEW)
CQB
$2.86M 0.05%
244,155
– –
FHY
133
DELISTED
First Trust Strategic High
FHY
$2.85M 0.05%
177,241
+26,448
+18% +$416K
CHK
134
DELISTED
Chesapeake Energy Corporation
CHK
$2.71M 0.05%
529
– –
VTG
135
DELISTED
VANTAGE DRILLING COMPANY ORD SHS (KY)
VTG
$2.58M 0.05%
1,400,000
– –
CMA.WS
136
DELISTED
Comerica Incorporated Ws
CMA.WS
$2.48M 0.05%
130,000
– –
GHY
137
PGIM Global High Yield Fund
GHY
$478M
$2.16M 0.04%
124,646
+1,778
+1% +$30.6K
EAD
138
Allspring Income Opportunities Fund
EAD
$372M
$2.15M 0.04%
234,126
+1,208
+0.5% +$10.9K
TRNO icon
139
Terreno Realty
TRNO
$7.68B
$2.15M 0.04%
121,290
– –
WLT
140
DELISTED
WALTER ENERGY INC COM STK (DE)
WLT
$2.08M 0.04%
125,000
+44,900
+56% +$702K
KWK
141
DELISTED
QUICKSILVER RESOURCES INC
KWK
$2M 0.04%
+650,000
New +$1.69M
TRC.WS
142
DELISTED
TEJON RANCH CO WTS EXP 8/31/2016 (DE)
TRC.WS
$1.99M 0.04%
372,079
+6
+0% +$26
BGH
143
Barings Global Short Duration High Yield Fund
BGH
$281M
$1.87M 0.03%
+81,347
New +$1.88M
RYN icon
144
Rayonier
RYN
$6.49B
$1.72M 0.03%
+60,157
New +$1.94M
ARPI
145
DELISTED
AMERICAN RESIDENTIAL PPTYS INC COM
ARPI
$1.72M 0.03%
+100,000
New +$1.73M
TECK icon
146
Teck Resources
TECK
$29.5B
$1.66M 0.03%
+67,567
New +$1.75M
ALX
147
Alexander's
ALX
$1.4B
$1.65M 0.03%
5,000
– –
CIF
148
DELISTED
MFS Intermediate High Income Fund
CIF
$1.52M 0.03%
524,984
+44,334
+9% +$125K
SBSA
149
DELISTED
Spanish Broadcasting System Inc.
SBSA
$1.28M 0.02%
382,686
– –
SIR
150
DELISTED
SELECT INCOME REIT
SIR
$1.07M 0.02%
91,000
+45,500
+100% +$539K
4 5
6
7 8

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BWP
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AMG
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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.