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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
WY icon
1
Weyerhaeuser
WY
$17.3B
$259M 4.75%
8,215,227
-12,322
-0.1% -$369K
BNY
2
Bank of New York Mellon
BNY
$108B
$249M 4.56%
7,117,407
-499,453
-7% -$16.3M
BN icon
3
Brookfield
BN
$104B
$205M 3.76%
22,549,376
-1,004,044
-4% -$9.14M
PKX icon
4
POSCO
PKX
$15.3B
$198M 3.63%
2,542,382
-155,869
-6% -$11.9M
DVN icon
5
Devon Energy
DVN
$50.5B
$193M 3.53%
3,115,295
-605,035
-16% -$37.1M
JEF icon
6
Jefferies Financial Group
JEF
$12.7B
$167M 3.07%
6,594,025
+295,780
+5% +$7.48M
WTM icon
7
White Mountains Insurance
WTM
$5.48B
$166M 3.04%
274,818
+3,994
+1% +$2.35M
KEY icon
8
KeyCorp
KEY
$25.2B
$151M 2.77%
11,257,939
-1,423,030
-11% -$18M
FCE.A
9
DELISTED
Forest City Realty Trust, Inc.
FCE.A
$135M 2.48%
7,069,629
-55,721
-0.8% -$1.08M
CVCO icon
10
Cavco Industries
CVCO
$4.37B
$121M 2.22%
2,004,502
-8,518
-0.4% -$519K
CVA
11
DELISTED
Covanta Holding Corporation
CVA
$118M 2.15%
6,622,428
– –
CMA
12
DELISTED
Comerica
CMA
$115M 2.11%
2,418,940
+18,421
+0.8% +$809K
APA icon
13
APA Corp
APA
$12.3B
$93.8M 1.72%
1,091,980
-19,781
-2% -$1.76M
LOW icon
14
Lowe's Companies
LOW
$115B
$91.3M 1.67%
1,842,437
-2,513
-0.1% -$122K
TRC icon
15
Tejon Ranch
TRC
$485M
$87.1M 1.6%
2,440,261
-42,972
-2% -$1.43M
Y
16
DELISTED
Alleghany Corp
Y
$84.7M 1.55%
211,651
-30,453
-13% -$12.2M
INTC icon
17
Intel
INTC
$488B
$84.4M 1.55%
3,252,638
-36,096
-1% -$873K
FR icon
18
First Industrial Realty Trust
FR
$9.04B
$75.6M 1.39%
4,330,258
-4,208
-0.1% -$73.4K
OVV icon
19
Ovintiv
OVV
$16.2B
$66.1M 1.21%
732,207
+75,843
+12% +$6.91M
PPS
20
DELISTED
Post Properties
PPS
$65.8M 1.21%
1,454,621
+759,385
+109% +$34.1M
SEMG
21
DELISTED
SEMGROUP CORPORATION
SEMG
$58.7M 1.08%
899,481
-2,490
-0.3% -$150K
VNO icon
22
Vornado Realty Trust
VNO
$7.48B
$58.6M 1.07%
901,716
-1,320
-0.1% -$85.5K
EME icon
23
Emcor
EME
$33.1B
$58.1M 1.07%
1,369,960
+154,505
+13% +$6.02M
HCC
24
DELISTED
HCC INSURANCES HOLDINGS INC
HCC
$57M 1.04%
1,234,679
+61,303
+5% +$2.76M
NVDA icon
25
NVIDIA
NVDA
$4.92T
$56.8M 1.04%
141,928,480
+11,443,160
+9% +$4.43M
1
2 3 4 5

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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.