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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
+2.46%
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
$5.16B
AUM Growth
-$293M
Cap. Flow
-$392M
Cap. Flow %
-7.6%
Top 10 Hldgs %
30.12%
Holding
181
New
11
Increased
41
Reduced
61
Closed
24

Top Buys

Rank Stock Value
1
G icon
Genpact
G
+$36.3M
2
APA icon
APA Corp
APA
+$31.7M
3
LABL
Multi-Color Corp
LABL
+$28.7M
4
EQC
Equity Commonwealth
EQC
+$27.1M
5
PHH
PHH Corporation
PHH
+$24M

Top Sells

Rank Stock Value
1
BNY
Bank of New York Mellon
BNY
+$60.2M
2
PKY
Parkway, Inc.
PKY
+$56.2M
3
JEF icon
Jefferies Financial Group
JEF
+$55.9M
4
WY icon
Weyerhaeuser
WY
+$50.5M
5
WTM icon
White Mountains Insurance
WTM
+$48.6M

Sector Composition

Rank Sector Weight
1 Financials 23.79%
2 Real Estate 15.33%
3 Industrials 11.08%
4 Materials 10.72%
5 Energy 10.17%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
WY icon
1
Weyerhaeuser
WY
$17.3B
$192M 3.72%
6,538,015
-1,677,212
-20% -$50.5M
BNY
2
Bank of New York Mellon
BNY
$108B
$187M 3.62%
5,296,072
-1,821,335
-26% -$60.2M
PKX icon
3
POSCO
PKX
$15.3B
$179M 3.46%
2,574,148
+31,766
+1% +$2.18M
DVN icon
4
Devon Energy
DVN
$50.5B
$172M 3.32%
2,562,708
-552,587
-18% -$34.3M
BN icon
5
Brookfield
BN
$104B
$170M 3.29%
17,771,393
-4,777,983
-21% -$43.5M
CVCO icon
6
Cavco Industries
CVCO
$4.37B
$152M 2.94%
1,935,758
-68,744
-3% -$5.23M
FCE.A
7
DELISTED
Forest City Realty Trust, Inc.
FCE.A
$134M 2.59%
7,008,991
-60,638
-0.9% -$1.15M
CMA
8
DELISTED
Comerica
CMA
$125M 2.42%
2,410,354
-8,586
-0.4% -$413K
KEY icon
9
KeyCorp
KEY
$25.2B
$123M 2.38%
8,643,141
-2,614,798
-23% -$35M
APA icon
10
APA Corp
APA
$12.3B
$123M 2.38%
1,478,213
+386,233
+35% +$31.7M
CVA
11
DELISTED
Covanta Holding Corporation
CVA
$120M 2.32%
6,622,428
– –
WTM icon
12
White Mountains Insurance
WTM
$5.48B
$115M 2.23%
191,574
-83,244
-30% -$48.6M
JEF icon
13
Jefferies Financial Group
JEF
$12.7B
$108M 2.1%
4,326,841
-2,267,184
-34% -$55.9M
OVV icon
14
Ovintiv
OVV
$16.2B
$99M 1.92%
925,785
+193,578
+26% +$18.3M
Y
15
DELISTED
Alleghany Corp
Y
$91.8M 1.78%
225,281
+13,630
+6% +$5.28M
LOW icon
16
Lowe's Companies
LOW
$115B
$89.6M 1.74%
1,832,757
-9,680
-0.5% -$467K
INTC icon
17
Intel
INTC
$488B
$84.1M 1.63%
3,256,638
+4,000
+0.1% +$99.9K
PPS
18
DELISTED
Post Properties
PPS
$83.6M 1.62%
1,702,115
+247,494
+17% +$11.8M
FR icon
19
First Industrial Realty Trust
FR
$9.04B
$83.1M 1.61%
4,298,711
-31,547
-0.7% -$570K
TRC icon
20
Tejon Ranch
TRC
$485M
$80.2M 1.55%
2,440,261
– –
VNO icon
21
Vornado Realty Trust
VNO
$7.48B
$64.8M 1.26%
898,844
-2,872
-0.3% -$198K
EQC
22
DELISTED
Equity Commonwealth
EQC
$63.6M 1.23%
2,419,214
+1,061,380
+78% +$27.1M
BKD icon
23
Brookdale Senior Living
BKD
$3.57B
$63.2M 1.22%
1,886,865
-14,093
-0.7% -$427K
NVDA icon
24
NVIDIA
NVDA
$4.92T
$62.9M 1.22%
140,505,400
-1,423,080
-1% -$609K
HCC
25
DELISTED
HCC INSURANCES HOLDINGS INC
HCC
$56.2M 1.09%
1,234,598
-81
-0% -$3.58K
1
2 3 4 5

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Third Avenue Management's Q1 2014 Portfolio in Review

As of Q1 2014, Third Avenue Management held 181 positions worth $5.16B, down 5.4% from $5.46B the previous quarter. Its ten largest holdings account for 30% of the portfolio.

Third Avenue Management withdrew a net $392M in Q1 2014, closing 24 positions and reducing 61 holdings. Its most notable exit was Parkway, Inc., an estimated $56.2M position sold in full.

By sector, the portfolio is most concentrated in Financials at 24% of assets, down from 26% a quarter earlier, followed by Real Estate and Industrials.

Against the trend, Third Avenue Management opened a new position in Genpact worth $37.5M.

  • Third Avenue Management's largest Q1 2014 buy was Genpact: 2,149,998 shares worth $37.5M.
  • Third Avenue Management added most to APA Corp in Q1 2014, an estimated $31.7M increase.
  • Third Avenue Management's biggest Q1 2014 reduction was Bank of New York Mellon, cutting an estimated $60.2M.
  • Third Avenue Management fully exited Parkway, Inc. in Q1 2014, selling an estimated $56.2M.
  • Third Avenue Management's ten largest holdings make up 30% of its $5.16B portfolio in Q1 2014.
  • Third Avenue Management opened 11 new positions and closed 24 in Q1 2014.
  • Third Avenue Management's portfolio value fell 5.4% quarter-over-quarter to $5.16B.

Based on Third Avenue Management's 13F filing for Q1 2014, filed 14 May 2014.