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TAM

Third Avenue Management Portfolio holdings

AUM $625M
1-Year Est. Return 48.93%
This Fund
S&P 500
This Quarter Est. Return
+5.65%
1 Year Est. Return
+48.93%
3 Year Est. Return
+112.7%
5 Year Est. Return
+169.82%
10 Year Est. Return
+390.58%
AUM
$3.97B
AUM Growth
-$799M
Cap. Flow
-$1B
Cap. Flow %
-25.28%
Top 10 Hldgs %
37.65%
Holding
155
New
9
Increased
35
Reduced
79
Closed
16

Top Buys

Rank Stock Value
1
GM icon
General Motors
GM
+$59.9M
2
RYN icon
Rayonier
RYN
+$58.2M
3
PARA
Paramount Global Class B
PARA
+$29.9M
4
VMI icon
Valmont Industries
VMI
+$24.3M
5
BKD icon
Brookdale Senior Living
BKD
+$20.7M

Top Sells

Rank Stock Value
1
CVA
Covanta Holding Corporation
CVA
+$55M
2
HCC
HCC INSURANCES HOLDINGS INC
HCC
+$38.1M
3
PRGS icon
Progress Software
PRGS
+$31.1M
4
SYNT
Syntel Inc
SYNT
+$29.4M
5
LOW icon
Lowe's Companies
LOW
+$28.2M

Sector Composition

Rank Sector Weight
1 Real Estate 29.29%
2 Financials 25.1%
3 Consumer Discretionary 9.14%
4 Industrials 7.92%
5 Energy 5.8%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
AXLL
151
DELISTED
AXIALL CORP COM STK (DE)
AXLL
– –
-651,238
Closed -$23.3M
FUR
152
DELISTED
WINTHROP REALTY TRUST SHS BENE INT (NEW)
FUR
– –
-60,000
Closed -$904K
NOR
153
DELISTED
NORANDA ALUM HLDG CORP COM NEW
NOR
– –
-214,286
Closed -$6.78M
ANV
154
DELISTED
Allied Nevada Gold Corp
ANV
– –
-1,961,723
Closed -$6.49M
3 4 5 6
7

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RIP
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B
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CWM
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LWP
LMG Wealth Partners Shreveport, Louisiana $626M AUM 36.27% 1-Year Est. Return
FGA
Fortis Group Advisors Westwood, New Jersey $626M AUM 33.6% 1-Year Est. Return
BVC
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APM
Avidity Partners Management Dallas, Texas $624M AUM 250.2% 1-Year Est. Return
DCM
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Third Avenue Management's Q4 2014 Portfolio in Review

As of Q4 2014, Third Avenue Management held 155 positions worth $3.97B, down 17% from $4.77B the previous quarter. Its ten largest holdings account for 38% of the portfolio.

Third Avenue Management withdrew a net $1B in Q4 2014, closing 16 positions and reducing 79 holdings. Its most notable exit was InterDigital, an estimated $25.8M position sold in full.

By sector, the portfolio is most concentrated in Real Estate at 29% of assets, up from 22% a quarter earlier, followed by Financials and Consumer Discretionary.

Against the trend, Third Avenue Management opened a new position in Valmont Industries worth $23.1M.

  • Third Avenue Management's largest Q4 2014 buy was Valmont Industries: 181,983 shares worth $23.1M.
  • Third Avenue Management added most to General Motors in Q4 2014, an estimated $59.9M increase.
  • Third Avenue Management's biggest Q4 2014 reduction was Covanta Holding Corporation, cutting an estimated $55M.
  • Third Avenue Management fully exited InterDigital in Q4 2014, selling an estimated $25.8M.
  • Third Avenue Management's ten largest holdings make up 38% of its $3.97B portfolio in Q4 2014.
  • Third Avenue Management opened 9 new positions and closed 16 in Q4 2014.
  • Third Avenue Management's portfolio value fell 17% quarter-over-quarter to $3.97B.

Based on Third Avenue Management's 13F filing for Q4 2014, filed 13 Feb 2015.