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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
HYI
151
Western Asset High Yield Opportunity Fund Inc
HYI
$134M
$517K 0.01%
+28,942
New +$510K
BPY
152
DELISTED
Brookfield Property Partners L.P. Limited Partnership Units
BPY
$517K 0.01%
+26,692
New +$536K
SIR
153
DELISTED
SELECT INCOME REIT
SIR
$516K 0.01%
45,500
– –
AKR icon
154
Acadia Realty Trust
AKR
$2.99B
$494K 0.01%
19,999
– –
PSB
155
DELISTED
PS Business Parks, Inc.
PSB
$455K 0.01%
6,100
– –
COF.WS
156
DELISTED
Capital One Financial Corp
COF.WS
$436K 0.01%
15,000
– –
PLD icon
157
Prologis
PLD
$138B
$334K 0.01%
8,880
– –
HXM
158
DELISTED
DESARROLLADORA HOMES DA DE CV (HOMEX DEV. CORP)
HXM
$212K ﹤0.01%
100,000
– –
CFFN icon
159
Capitol Federal Financial
CFFN
$1.08B
$175K ﹤0.01%
14,075
-8,540
-38% -$107K
NLY icon
160
Annaly Capital Management
NLY
$16.9B
$153K ﹤0.01%
3,304
– –
CMO
161
DELISTED
Capstead Mortgage Corp.
CMO
$147K ﹤0.01%
12,500
– –
FNFG
162
DELISTED
FIRST NIAGARA FINANCIAL GROUP INC
FNFG
$107K ﹤0.01%
10,275
– –
AMAT icon
163
Applied Materials
AMAT
$426B
– –
-8,858,678
Closed -$132M
HY icon
164
Hyster-Yale Materials Handling
HY
$593M
– –
-186,123
Closed -$11.7M
TDW icon
165
Tidewater
TDW
$3.91B
– –
-434
Closed -$798K
XEC
166
DELISTED
CIMAREX ENERGY CO
XEC
– –
-113,665
Closed -$7.39M
HAR
167
DELISTED
Harman International Industries
HAR
– –
-759,611
Closed -$41.2M
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.