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Value Shop Third Avenue Management Reports Q1 Portfolio

Third Avenue Management, the investment firm run by legendary value investor Martin Whitman, just reported its first quarter holdings. These are the details of buys and sells. As of 03/31/2011, Third Avenue Management owns 105 stocks with a total value of $5.3 billion. These are the details of the buys and sells.

This is the portfolio chart of Third Avenue Management. You can click on the legend of the chart to show/hide buys, sells, or holdings. Each ball on the chart represents a position in the portfolio. You can move your mouse on the balls to see the details of each position and click to see the details of all guru trades with this position.



For the details of Third Avenue Management's stock buys and sells, go to http://www.gurufocus.com/StockBuy.php?GuruName=Third+Avenue+Management

This is the sector weightings of his portfolio:

Financials 33.5%
Basic Materials 17.4%
Oil & Gas 16%
Technology 9.3%
Consumer Goods 9.2%
Industrials 8.7%
Health Care 1.7%
Consumer Services 1.2%


These are the top 5 holdings of Third Avenue Management

  1. POSCO (PKX) - 4,372,787 shares, 9.45% of the total portfolio. Shares added by 0.14%
  2. BROOKFIELD ASSET MANAGEMENT INC (BAM) - 13,812,383 shares, 8.48% of the total portfolio. Shares reduced by 5.16%
  3. FOREST CITY ENTERPRISES (FCE.A) - 19,472,757 shares, 6.93% of the total portfolio. Shares reduced by 0.14%
  4. NABORS INDUSTRIES LTD. (NBR) - 11,219,648 shares, 6.45% of the total portfolio.
  5. BANK OF NEW YORK MELLON Corp. (BK) - 9,909,753 shares, 5.6% of the total portfolio. Shares reduced by 0.42%


Added: 1st Industrial Realty (FR)

Third Avenue Management added to his holdings in 1st Industrial Realty by 74.09%. His purchase prices were between $8.76 and $11.87, with an estimated average price of $10.54. The impact to his portfolio due to this purchase was 0.31%. His holdings were 3,242,633 shares as of 03/31/2011.

Added: Encana Corp. (ECA)

Third Avenue Management added to his holdings in Encana Corp. by 12.95%. His purchase prices were between $28.7 and $34.73, with an estimated average price of $31.83. The impact to his portfolio due to this purchase was 0.3%. His holdings were 4,878,597 shares as of 03/31/2011.

Added: Tellabs Inc. (TLAB)

Third Avenue Management added to his holdings in Tellabs Inc. by 15.95%. His purchase prices were between $4.92 and $7.25, with an estimated average price of $5.77. The impact to his portfolio due to this purchase was 0.27%. His holdings were 19,732,920 shares as of 03/31/2011.

Added: Sanderson Farms Inc. (SAFM)

Third Avenue Management added to his holdings in Sanderson Farms Inc. by 55.59%. His purchase prices were between $38.59 and $48.47, with an estimated average price of $42.54. The impact to his portfolio due to this purchase was 0.18%. His holdings were 586,101 shares as of 03/31/2011.

Added: Keycorp (KEY)

Third Avenue Management added to his holdings in Keycorp by 6.85%. His purchase prices were between $8.54 and $9.71, with an estimated average price of $9.03. The impact to his portfolio due to this purchase was 0.14%. His holdings were 13,059,818 shares as of 03/31/2011.

Added: Glatfelter (GLT)

Third Avenue Management added to his holdings in Glatfelter by 14.6%. His purchase prices were between $11.28 and $13.04, with an estimated average price of $12.14. The impact to his portfolio due to this purchase was 0.11%. His holdings were 3,284,492 shares as of 03/31/2011.

Added: Terreno Realty Corp. (TRNO)

Third Avenue Management added to his holdings in Terreno Realty Corp. by 100%. His purchase prices were between $16.55 and $18.6, with an estimated average price of $17.68. The impact to his portfolio due to this purchase was 0.02%. His holdings were 100,000 shares as of 03/31/2011.

Added: Inversiones Repres. (IRS)

Third Avenue Management added to his holdings in Inversiones Repres. by 56.01%. His purchase prices were between $13.8 and $16.77, with an estimated average price of $15.1. The impact to his portfolio due to this purchase was 0.01%. His holdings were 84,914 shares as of 03/31/2011.

New Purchase: Kinross Gold Corp. (KGC)

Third Avenue Management initiated holdings in Kinross Gold Corp.. His purchase prices were between $14.41 and $18.96, with an estimated average price of $16.42. The impact to his portfolio due to this purchase was 0.83%. His holdings were 2,783,106 shares as of 03/31/2011.

New Purchase: Mantech International Corp. (MANT)

Third Avenue Management initiated holdings in Mantech International Corp.. His purchase prices were between $39.23 and $44.21, with an estimated average price of $41.62. The impact to his portfolio due to this purchase was 0.36%. His holdings were 450,606 shares as of 03/31/2011.

New Purchase: Seacor Holdings Inc. (CKH)

Third Avenue Management initiated holdings in Seacor Holdings Inc.. His purchase prices were between $90.77 and $112.43, with an estimated average price of $100.06. The impact to his portfolio due to this purchase was 0.23%. His holdings were 132,217 shares as of 03/31/2011.

New Purchase: Annaly Capital Management. Inc. (NLY)

Third Avenue Management initiated holdings in Annaly Capital Management. Inc.. His purchase prices were between $17.35 and $18.12, with an estimated average price of $17.8. The impact to his portfolio due to this purchase was 0.2%. His holdings were 614,304 shares as of 03/31/2011.

New Purchase: The Madison Square Garden Company (MSG)

Third Avenue Management initiated holdings in The Madison Square Garden Company. His purchase prices were between $24.17 and $29.71, with an estimated average price of $26.57. The impact to his portfolio due to this purchase was 0.19%. His holdings were 366,208 shares as of 03/31/2011.

New Purchase: Minerals Technologies Inc (MTX)

Third Avenue Management initiated holdings in Minerals Technologies Inc. His purchase prices were between $62.46 and $68.18, with an estimated average price of $65.15. The impact to his portfolio due to this purchase was 0.18%. His holdings were 135,900 shares as of 03/31/2011.

New Purchase: Provident Energy Trust (PVX)

Third Avenue Management initiated holdings in Provident Energy Trust. His purchase prices were between $7.91 and $9.21, with an estimated average price of $8.34. The impact to his portfolio due to this purchase was 0.12%. His holdings were 700,566 shares as of 03/31/2011.

New Purchase: Ps Business Parks Inc. (PSB)

Third Avenue Management initiated holdings in Ps Business Parks Inc.. His purchase prices were between $55.65 and $63.04, with an estimated average price of $58.65. The impact to his portfolio due to this purchase was 0.01%. His holdings were 6,100 shares as of 03/31/2011.

New Purchase: Bankunited Inc. (BKU)

Third Avenue Management initiated holdings in Bankunited Inc.. His purchase prices were between $27.96 and $29.72, with an estimated average price of $28.57. The impact to his portfolio due to this purchase was 0.01%. His holdings were 20,000 shares as of 03/31/2011.

Reduced: Cimarex Energy Co (XEC)

Third Avenue Management reduced to his holdings in Cimarex Energy Co by 98.66%. His sale prices were between $88.53 and $116.72, with an estimated average price of $104.93. The impact to his portfolio due to this sale was -4.42%. Third Avenue Management still held 28,456 shares as of 03/31/2011.

Reduced: Westlake Chemical Corp. (WLK)

Third Avenue Management reduced to his holdings in Westlake Chemical Corp. by 26.72%. His sale prices were between $38.55 and $55.79, with an estimated average price of $45.84. The impact to his portfolio due to this sale was -0.39%. Third Avenue Management still held 1,012,258 shares as of 03/31/2011.

Reduced: Tidewater Inc. (TDW)

Third Avenue Management reduced to his holdings in Tidewater Inc. by 30.8%. His sale prices were between $52.8 and $63.5, with an estimated average price of $58.11. The impact to his portfolio due to this sale was -0.33%. Third Avenue Management still held 656,827 shares as of 03/31/2011.

Reduced: Pioneer Drilling Company (PDC)

Third Avenue Management reduced to his holdings in Pioneer Drilling Company by 52.8%. His sale prices were between $8.24 and $13.64, with an estimated average price of $10.35. The impact to his portfolio due to this sale was -0.29%. Third Avenue Management still held 1,001,101 shares as of 03/31/2011.

Reduced: Bronco Drilling Company Inc. (BRNC)

Third Avenue Management reduced to his holdings in Bronco Drilling Company Inc. by 20.61%. His sale prices were between $6.34 and $11.13, with an estimated average price of $8.29. The impact to his portfolio due to this sale was -0.28%. Third Avenue Management still held 5,043,210 shares as of 03/31/2011.

Reduced: General Motors Company (GM)

Third Avenue Management reduced to his holdings in General Motors Company by 55.56%. His sale prices were between $30.74 and $38.98, with an estimated average price of $35.03. The impact to his portfolio due to this sale was -0.13%. Third Avenue Management still held 166,667 shares as of 03/31/2011.

Reduced: Conocophillips (COP)

Third Avenue Management reduced to his holdings in Conocophillips by 20.94%. His sale prices were between $66.88 and $80.69, with an estimated average price of $73.39. The impact to his portfolio due to this sale was -0.02%. Third Avenue Management still held 43,045 shares as of 03/31/2011.

Reduced: Sanofi (SNY)

Third Avenue Management reduced to his holdings in Sanofi by 22.25%. His sale prices were between $31.87 and $36.2, with an estimated average price of $34.2. The impact to his portfolio due to this sale was -0.01%. Third Avenue Management still held 23,395 shares as of 03/31/2011.

Sold Out: St. Joe Company (JOE)

Third Avenue Management sold out his holdings in St. Joe Company. His sale prices were between $21.85 and $29.5, with an estimated average price of $26.25.

Sold Out: Dex One Corp. (DEXO)

Third Avenue Management sold out his holdings in Dex One Corp.. His sale prices were between $3.97 and $8.73, with an estimated average price of $5.87.

Sold Out: Brooklyn Federal Bancorp Inc. (BFSB)

Third Avenue Management sold out his holdings in Brooklyn Federal Bancorp Inc.. His sale prices were between $0.66 and $1.34, with an estimated average price of $0.88.

Reduced: Bronco Drilling Company Inc. (BRNC)

Third Avenue Management reduced to his holdings in Bronco Drilling Company Inc. by 23.18%. The impact to his portfolio due to this sale was 0.32%. Third Avenue Management still held 4,879,976 shares as of 03/31/2011.


Rating: 3.2/5 (10 votes)

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