TAM

Third Avenue Management Portfolio holdings

AUM $625M Turnover 10.53%
1-Year Est. Return 48.93%
This Fund
S&P 500
This Quarter Est. Return
+5.74%
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
$5.18B
AUM Growth
+$21.6M
Cap. Flow
-$232M
Cap. Flow %
-4.48%
Top 10 Hldgs %
32.21%
Holding
171
New
14
Increased
36
Reduced
72
Closed
20
Avg Time Held
0.8 years
Top 10 Avg Time Held
0.7 years
Top 20 Avg Time Held
0.9 years

Top Buys

Rank Stock Value
1
WY icon
Weyerhaeuser
WY
+$85.7M
2
AGCO icon
AGCO
AGCO
+$55.6M
3
PDCO icon
Patterson Companies, Inc.
PDCO
+$24.4M
4
CTB
Cooper Tire & Rubber Co.
CTB
+$18M
5
ARCO icon
Arcos Dorados Holdings
ARCO
+$16.5M

Top Sells

Rank Stock Value
1
CMP icon
Compass Minerals
CMP
+$38.3M
2
DVN icon
Devon Energy
DVN
+$35.8M
3
SXT icon
Sensient Technologies
SXT
+$34.9M
4
BN icon
Brookfield
BN
+$34.8M
5
SUSS
SUSSER HOLDINGS CORPORATION COMMON STOCK
SUSS
+$33.6M

Sector Composition

Rank Sector Weight
1 Financials 22.73%
2 Real Estate 17.99%
3 Industrials 11.99%
4 Technology 10.47%
5 Energy 10.08%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow Held Since
WY icon
1
Weyerhaeuser
WY
$13.6B
$310M 5.98%
9,374,201
+2,836,186
+43% +$85.7M
2013 Q2
4 quarters
BNY icon
2
Bank of New York Mellon
BNY
$92.5B
$188M 3.64%
5,028,544
-267,528
-5% -$9.26M
2013 Q2
4 quarters
PKX icon
3
POSCO
PKX
$17.1B
$173M 3.33%
2,321,005
-253,143
-10% -$18.5M
2013 Q2
4 quarters
DVN icon
4
Devon Energy
DVN
$54.9B
$164M 3.17%
2,071,231
-491,477
-19% -$35.8M
2013 Q2
4 quarters
CVCO icon
5
Cavco Industries
CVCO
$3.9B
$147M 2.84%
1,726,891
-208,867
-11% -$16.3M
2013 Q2
4 quarters
BN icon
6
Brookfield
BN
$79.8B
$147M 2.84%
14,292,063
-3,479,330
-20% -$34.8M
2013 Q2
4 quarters
FCE.A
7
DELISTED
Forest City Realty Trust, Inc.
FCE.A
$138M 2.67%
6,967,150
-41,841
-0.6% -$799K
2013 Q2
4 quarters
CVA
8
DELISTED
Covanta Holding Corporation
CVA
$136M 2.63%
6,622,428
– –
2013 Q2
4 quarters
APA icon
9
APA Corp
APA
$16.6B
$136M 2.63%
1,353,333
-124,880
-8% -$11.3M
2013 Q2
4 quarters
CMA icon
10
DELISTED
Comerica
CMA
$128M 2.47%
2,556,661
+146,307
+6% +$7.14M
2013 Q2
4 quarters
WTM icon
11
White Mountains Insurance
WTM
$5B
$117M 2.25%
191,647
+73
+0% +$43.5K
2013 Q2
4 quarters
KEY icon
12
KeyCorp
KEY
$21B
$112M 2.17%
7,846,078
-797,063
-9% -$11M
2013 Q2
4 quarters
INTC icon
13
Intel
INTC
$522B
$99.8M 1.92%
3,228,534
-28,104
-0.9% -$770K
2013 Q2
4 quarters
JEF icon
14
Jefferies Financial Group
JEF
$10.1B
$95M 1.83%
4,046,821
-280,020
-6% -$6.5M
2013 Q2
4 quarters
OVV icon
15
Ovintiv
OVV
$18.5B
$94.9M 1.83%
800,444
-125,341
-14% -$14.5M
2013 Q2
4 quarters
Y
16
DELISTED
Alleghany Corp
Y
$94.8M 1.83%
216,277
-9,004
-4% -$3.76M
2013 Q2
4 quarters
PPS
17
DELISTED
Post Properties
PPS
$89.1M 1.72%
1,666,333
-35,782
-2% -$1.83M
2013 Q2
4 quarters
LOW icon
18
Lowe's Companies
LOW
$106B
$88.2M 1.7%
1,837,346
+4,589
+0.3% +$214K
2013 Q2
4 quarters
FR icon
19
First Industrial Realty Trust
FR
$7.73B
$81.2M 1.57%
4,307,710
+8,999
+0.2% +$168K
2013 Q2
4 quarters
TRC icon
20
Tejon Ranch
TRC
$435M
$76.3M 1.47%
2,440,261
– –
2013 Q2
4 quarters
VNO icon
21
Vornado Realty Trust
VNO
$6B
$70.3M 1.36%
900,740
+1,896
+0.2% +$144K
2013 Q2
4 quarters
EQC icon
22
DELISTED
Equity Commonwealth
EQC
$63.8M 1.23%
2,423,928
+4,714
+0.2% +$124K
2013 Q2
4 quarters
NVDA icon
23
NVIDIA
NVDA
$5.33T
$63.6M 1.23%
137,188,720
-3,316,680
-2% -$1.55M
2013 Q2
4 quarters
BKD icon
24
Brookdale Senior Living
BKD
$2.39B
$61.5M 1.19%
1,845,332
-41,533
-2% -$1.35M
2013 Q2
4 quarters
GEN icon
25
Gen Digital
GEN
$14.2B
$59.6M 1.15%
2,603,676
+458,389
+21% +$9.74M
2013 Q2
4 quarters
1
2 3 4 5

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B
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CWM
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LWP
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FGA
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BVC
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APM
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DCM
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Third Avenue Management's Q2 2014 Portfolio in Review

As of Q2 2014, Third Avenue Management held 171 positions worth $5.18B, up 0.42% from $5.16B the previous quarter. Its ten largest holdings account for 32% of the portfolio.

Third Avenue Management withdrew a net $232M in Q2 2014, closing 20 positions and reducing 72 holdings. Its most notable exit was Compass Minerals, an estimated $38.3M position sold in full.

By sector, the portfolio is most concentrated in Financials at 23% of assets, down from 24% a quarter earlier, followed by Real Estate and Industrials.

Against the trend, Third Avenue Management opened a new position in AGCO worth $56.6M.

  • Third Avenue Management's largest Q2 2014 buy was AGCO: 1,006,478 shares worth $56.6M.
  • Third Avenue Management added most to Weyerhaeuser in Q2 2014, an estimated $85.7M increase.
  • Third Avenue Management's biggest Q2 2014 reduction was Devon Energy, cutting an estimated $35.8M.
  • Third Avenue Management fully exited Compass Minerals in Q2 2014, selling an estimated $38.3M.
  • Third Avenue Management's ten largest holdings make up 32% of its $5.18B portfolio in Q2 2014.
  • Third Avenue Management opened 14 new positions and closed 20 in Q2 2014.
  • Third Avenue Management's portfolio value rose 0.42% quarter-over-quarter to $5.18B.

Based on Third Avenue Management's 13F filing for Q2 2014, filed 14 Aug 2014.