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Third Avenue Management Buys Lowes, Teleflex, American Eagle Outfitters, Tellabs, Sells Pharmaceutical Product Development, Nabors Industries

gurufocus

gurufocus

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Managing mutual funds, separate accounts, and hedge funds, Third Avenue Management was founded by the legendary value investor Martin Whitman. As such, it employs a similar investing philosophy as its chairman, using the current balance sheet to determine a company's value rather than future projections of revenue and earnings. The fund targets underpriced companies that have capable management and strong finances. As of 09/30/2011, Third Avenue Management owns 116 stocks with a total value of $4 billion. These are the details of the buys and sells.

Third Avenue Management buys Lowes Cos., Teleflex Inc., American Eagle Outfitters Inc., Tellabs Inc., Semgroup Corp. Cl A, Hcc Insurance Holdings Inc., White Mountains Insurance Group Ltd., General Growth Properties Inc., Applied Materials Inc. etc during the third quarter.

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 33.3%
Basic Materials 17.8%
Oil & Gas 13.5%
Technology 10.7%
Industrials 9.9%
Consumer Goods 7.5%
Consumer Services 5.2%
Health Care 1.2%


These are the top 5 holdings of Third Avenue Management

  1. POSCO ADS (PKX) - 4,398,137 shares, 8.4% of the total portfolio. Shares added by 0.46%
  2. Brookfield Asset Management (BAM) - 12,161,221 shares, 8.4% of the total portfolio. Shares reduced by 2.81%
  3. Forest City Enterprises Inc. Cl A (FCE.A) - 19,972,847 shares, 5.4% of the total portfolio. Shares added by 3.21%
  4. Bank Of New York Mellon (BK) - 10,086,803 shares, 4.7% of the total portfolio. Shares added by 2.83%
  5. Covanta Holding (CVA) - 9,261,289 shares, 3.5% of the total portfolio.


New Purchase: American Eagle Outfitters Inc. (AEO)

Third Avenue Management initiated holdings in American Eagle Outfitters Inc.. His purchase prices were between $10.17 and $14.08, with an estimated average price of $12.09. The impact to his portfolio due to this purchase was 0.54%. His holdings were 1,844,457 shares as of 09/30/2011.

New Purchase: Semgroup Corp. Cl A (SEMG)

Third Avenue Management initiated holdings in Semgroup Corp. Cl A. His purchase prices were between $18 and $24.95, with an estimated average price of $22.24. The impact to his portfolio due to this purchase was 0.47%. His holdings were 942,632 shares as of 09/30/2011.

New Purchase: General Growth Properties Inc. (GGP)

Third Avenue Management initiated holdings in General Growth Properties Inc.. His purchase prices were between $11.75 and $17.38, with an estimated average price of $14.43. The impact to his portfolio due to this purchase was 0.38%. His holdings were 1,246,134 shares as of 09/30/2011.

New Purchase: Sensient Technologies Corp. (SXT)

Third Avenue Management initiated holdings in Sensient Technologies Corp.. His purchase prices were between $30.92 and $39.45, with an estimated average price of $35.52. The impact to his portfolio due to this purchase was 0.24%. His holdings were 293,854 shares as of 09/30/2011.

New Purchase: Aeropostale Inc. (ARO)

Third Avenue Management initiated holdings in Aeropostale Inc.. His purchase prices were between $9.31 and $18.56, with an estimated average price of $13.44. The impact to his portfolio due to this purchase was 0.2%. His holdings were 726,950 shares as of 09/30/2011.

New Purchase: Cowen Group Inc. (COWN)

Third Avenue Management initiated holdings in Cowen Group Inc.. His purchase prices were between $2.67 and $4.21, with an estimated average price of $3.51. The impact to his portfolio due to this purchase was 0.12%. His holdings were 1,756,780 shares as of 09/30/2011.

New Purchase: Cedar Realty Trust (CDR)

Third Avenue Management initiated holdings in Cedar Realty Trust. His purchase prices were between $3.1 and $5.4, with an estimated average price of $4.11. The impact to his portfolio due to this purchase was 0.04%. His holdings were 465,000 shares as of 09/30/2011.

New Purchase: Haemonetics Corp. (HAE)

Third Avenue Management initiated holdings in Haemonetics Corp.. His purchase prices were between $56.03 and $69.18, with an estimated average price of $62.23. The impact to his portfolio due to this purchase was 0.04%. His holdings were 26,492 shares as of 09/30/2011.

New Purchase: First Potomac Realty Trust (FPO)

Third Avenue Management initiated holdings in First Potomac Realty Trust. His purchase prices were between $11.32 and $16.55, with an estimated average price of $13.9. The impact to his portfolio due to this purchase was 0.01%. His holdings were 44,300 shares as of 09/30/2011.

New Purchase: Prologis (PLD)

Third Avenue Management initiated holdings in Prologis. His purchase prices were between $25 and $37.26, with an estimated average price of $29.93. The impact to his portfolio due to this purchase was 0.01%. His holdings were 14,180 shares as of 09/30/2011.

New Purchase: Kimco Realty Corp. (KIM)

Third Avenue Management initiated holdings in Kimco Realty Corp.. His purchase prices were between $14.64 and $20.3, with an estimated average price of $17.52. The impact to his portfolio due to this purchase was 0.01%. His holdings were 22,845 shares as of 09/30/2011.

Sold Out: Liberty Media Corp. Liberty Starz (LSTZA)

Third Avenue Management sold out his holdings in Liberty Media Corp. Liberty Starz. His sale prices were between $65.46 and $77.93, with an estimated average price of $71.69.

Sold Out: Hkn (HKN)

Third Avenue Management sold out his holdings in Hkn. His sale prices were between $1.85 and $2.55, with an estimated average price of $2.21.

Added: Lowes Cos. (LOW)

Third Avenue Management added to his holdings in Lowes Cos. by 243.96%. His purchase prices were between $18.11 and $23.99, with an estimated average price of $20.77. The impact to his portfolio due to this purchase was 1.06%. His holdings were 3,055,700 shares as of 09/30/2011.

Added: Teleflex Inc. (TFX)

Third Avenue Management added to his holdings in Teleflex Inc. by 340.98%. His purchase prices were between $49.51 and $63.14, with an estimated average price of $56.76. The impact to his portfolio due to this purchase was 0.6%. His holdings were 572,312 shares as of 09/30/2011.

Added: Tellabs Inc. (TLAB)

Third Avenue Management added to his holdings in Tellabs Inc. by 22.73%. His purchase prices were between $3.69 and $4.65, with an estimated average price of $4.16. The impact to his portfolio due to this purchase was 0.51%. His holdings were 25,535,230 shares as of 09/30/2011.

Added: Hcc Insurance Holdings Inc. (HCC)

Third Avenue Management added to his holdings in Hcc Insurance Holdings Inc. by 74.51%. His purchase prices were between $24.89 and $31.67, with an estimated average price of $28.84. The impact to his portfolio due to this purchase was 0.46%. His holdings were 1,595,276 shares as of 09/30/2011.

Added: White Mountains Insurance Group Ltd. (WTM)

Third Avenue Management added to his holdings in White Mountains Insurance Group Ltd. by 54.55%. His purchase prices were between $377 and $431.32, with an estimated average price of $407.49. The impact to his portfolio due to this purchase was 0.42%. His holdings were 117,414 shares as of 09/30/2011.

Added: Applied Materials Inc. (AMAT)

Third Avenue Management added to his holdings in Applied Materials Inc. by 36.51%. His purchase prices were between $10.36 and $13.435, with an estimated average price of $11.71. The impact to his portfolio due to this purchase was 0.35%. His holdings were 5,072,296 shares as of 09/30/2011.

Added: Minerals Technologies Inc. (MTX)

Third Avenue Management added to his holdings in Minerals Technologies Inc. by 76.51%. His purchase prices were between $49.66 and $68.63, with an estimated average price of $58.55. The impact to his portfolio due to this purchase was 0.26%. His holdings were 476,840 shares as of 09/30/2011.

Added: Seacor Holdings Inc. (CKH)

Third Avenue Management added to his holdings in Seacor Holdings Inc. by 32.09%. His purchase prices were between $80.89 and $108.81, with an estimated average price of $93.36. The impact to his portfolio due to this purchase was 0.24%. His holdings were 480,402 shares as of 09/30/2011.

Added: Oshkosh (OSK)

Third Avenue Management added to his holdings in Oshkosh by 48.28%. His purchase prices were between $16.01 and $32.59, with an estimated average price of $22.44. The impact to his portfolio due to this purchase was 0.24%. His holdings were 1,879,678 shares as of 09/30/2011.

Added: Vail Resorts Inc. (MTN)

Third Avenue Management added to his holdings in Vail Resorts Inc. by 23.05%. His purchase prices were between $34.76 and $47.07, with an estimated average price of $41.08. The impact to his portfolio due to this purchase was 0.23%. His holdings were 1,303,541 shares as of 09/30/2011.

Added: Weyerhaeuser Co. (WY)

Third Avenue Management added to his holdings in Weyerhaeuser Co. by 8.62%. His purchase prices were between $15.7 and $22.57, with an estimated average price of $18.55. The impact to his portfolio due to this purchase was 0.22%. His holdings were 7,059,648 shares as of 09/30/2011.

Added: Ryland Group Inc. (RYL)

Third Avenue Management added to his holdings in Ryland Group Inc. by 1177.31%. His purchase prices were between $9.61 and $17.08, with an estimated average price of $12.69. The impact to his portfolio due to this purchase was 0.21%. His holdings were 854,522 shares as of 09/30/2011.

Added: The Madison Square Garden Company (MSG)

Third Avenue Management added to his holdings in The Madison Square Garden Company by 24.36%. His purchase prices were between $22.24 and $27.86, with an estimated average price of $24.87. The impact to his portfolio due to this purchase was 0.19%. His holdings were 1,654,842 shares as of 09/30/2011.

Added: Forest City Enterprises Inc. Cl A (FCE.A)

Third Avenue Management added to his holdings in Forest City Enterprises Inc. Cl A by 3.21%. His purchase prices were between $10.89 and $19, with an estimated average price of $14.84. The impact to his portfolio due to this purchase was 0.17%. His holdings were 19,972,847 shares as of 09/30/2011.

Added: Cimarex Energy Co. (XEC)

Third Avenue Management added to his holdings in Cimarex Energy Co. by 489.78%. His purchase prices were between $57.42 and $92.76, with an estimated average price of $73.8. The impact to his portfolio due to this purchase was 0.16%. His holdings were 138,781 shares as of 09/30/2011.

Added: Kaiser Aluminum Corp. (KALU)

Third Avenue Management added to his holdings in Kaiser Aluminum Corp. by 14.54%. His purchase prices were between $43.71 and $56.3, with an estimated average price of $50.91. The impact to his portfolio due to this purchase was 0.13%. His holdings were 933,458 shares as of 09/30/2011.

Added: Bank Of New York Mellon (BK)

Third Avenue Management added to his holdings in Bank Of New York Mellon by 2.83%. His purchase prices were between $18.52 and $26.39, with an estimated average price of $22.12. The impact to his portfolio due to this purchase was 0.13%. His holdings were 10,086,803 shares as of 09/30/2011.

Added: Superior Industries International Inc. (SUP)

Third Avenue Management added to his holdings in Superior Industries International Inc. by 14.17%. His purchase prices were between $14.45 and $22.59, with an estimated average price of $18.09. The impact to his portfolio due to this purchase was 0.12%. His holdings were 2,381,773 shares as of 09/30/2011.

Added: Bristow Group (BRS)

Third Avenue Management added to his holdings in Bristow Group by 6.31%. His purchase prices were between $38.04 and $52.32, with an estimated average price of $45.06. The impact to his portfolio due to this purchase was 0.11%. His holdings were 1,667,209 shares as of 09/30/2011.

Added: Mantech International Corp. (MANT)

Third Avenue Management added to his holdings in Mantech International Corp. by 14.55%. His purchase prices were between $30.02 and $45.81, with an estimated average price of $37.65. The impact to his portfolio due to this purchase was 0.11%. His holdings were 1,094,293 shares as of 09/30/2011.

Added: Memc Electronic Materials Inc. (WFR)

Third Avenue Management added to his holdings in Memc Electronic Materials Inc. by 26.15%. His purchase prices were between $4.98 and $8.38, with an estimated average price of $6.93. The impact to his portfolio due to this purchase was 0.11%. His holdings were 3,940,911 shares as of 09/30/2011.

Added: Alexander & Baldwin Inc. (ALEX)

Third Avenue Management added to his holdings in Alexander & Baldwin Inc. by 9.84%. His purchase prices were between $36.77 and $51.55, with an estimated average price of $43.51. The impact to his portfolio due to this purchase was 0.1%. His holdings were 1,252,865 shares as of 09/30/2011.

Added: Icf International Inc. (ICFI)

Third Avenue Management added to his holdings in Icf International Inc. by 22.38%. His purchase prices were between $18.88 and $25.59, with an estimated average price of $22.25. The impact to his portfolio due to this purchase was 0.09%. His holdings were 1,007,001 shares as of 09/30/2011.

Added: Excel Trust (EXL)

Third Avenue Management added to his holdings in Excel Trust by 105.44%. His purchase prices were between $9.32 and $11.69, with an estimated average price of $10.57. The impact to his portfolio due to this purchase was 0.09%. His holdings were 759,493 shares as of 09/30/2011.

Added: Pioneer Drilling Co. (PDC)

Third Avenue Management added to his holdings in Pioneer Drilling Co. by 53.43%. His purchase prices were between $7.42 and $17.7, with an estimated average price of $13.02. The impact to his portfolio due to this purchase was 0.08%. His holdings were 1,242,524 shares as of 09/30/2011.

Added: General Motors (GM)

Third Avenue Management added to his holdings in General Motors by 63.04%. His purchase prices were between $20.24 and $31.8, with an estimated average price of $25.39. The impact to his portfolio due to this purchase was 0.08%. His holdings were 381,467 shares as of 09/30/2011.

Added: Scorpio Tankers (STNG)

Third Avenue Management added to his holdings in Scorpio Tankers by 35.48%. His purchase prices were between $4.97 and $10.02, with an estimated average price of $6.99. The impact to his portfolio due to this purchase was 0.06%. His holdings were 1,632,548 shares as of 09/30/2011.

Added: Abitibibowater (ABH)

Third Avenue Management added to his holdings in Abitibibowater by 31.78%. His purchase prices were between $15.02 and $21.02, with an estimated average price of $17.31. The impact to his portfolio due to this purchase was 0.05%. His holdings were 524,895 shares as of 09/30/2011.

Added: Terreno Realty (TRNO)

Third Avenue Management added to his holdings in Terreno Realty by 67.33%. His purchase prices were between $13.19 and $17.03, with an estimated average price of $15.45. The impact to his portfolio due to this purchase was 0.03%. His holdings were 250,990 shares as of 09/30/2011.

Added: Irsa Inversiones Y Representaciones S.a. Ads (IRS)

Third Avenue Management added to his holdings in Irsa Inversiones Y Representaciones S.a. Ads by 63.14%. His purchase prices were between $8.52 and $13.75, with an estimated average price of $11.52. The impact to his portfolio due to this purchase was 0.01%. His holdings were 82,814 shares as of 09/30/2011.

Reduced: Pharmaceutical Product Development Inc. (PPDI)

Third Avenue Management reduced to his holdings in Pharmaceutical Product Development Inc. by 35.14%. His sale prices were between $24.7 and $32.28, with an estimated average price of $28.77. The impact to his portfolio due to this sale was -0.52%. Third Avenue Management still held 1,741,349 shares as of 09/30/2011.

Reduced: Nabors Industries Ltd. (NBR)

Third Avenue Management reduced to his holdings in Nabors Industries Ltd. by 26.77%. His sale prices were between $13.11 and $27.57, with an estimated average price of $20.53. The impact to his portfolio due to this sale was -0.51%. Third Avenue Management still held 2,789,648 shares as of 09/30/2011.

Reduced: Vornado Realty Trust (VNO)

Third Avenue Management reduced to his holdings in Vornado Realty Trust by 24.97%. His sale prices were between $72.87 and $98.6, with an estimated average price of $86.69. The impact to his portfolio due to this sale was -0.42%. Third Avenue Management still held 661,768 shares as of 09/30/2011.

Reduced: Sanderson Farms Inc. (SAFM)

Third Avenue Management reduced to his holdings in Sanderson Farms Inc. by 98.05%. His sale prices were between $38.69 and $47.3, with an estimated average price of $43.2. The impact to his portfolio due to this sale was -0.29%. Third Avenue Management still held 5,950 shares as of 09/30/2011.

Reduced: Electro Scientific Industries Inc. (ESIO)

Third Avenue Management reduced to his holdings in Electro Scientific Industries Inc. by 37.98%. His sale prices were between $11.81 and $19.88, with an estimated average price of $16.27. The impact to his portfolio due to this sale was -0.24%. Third Avenue Management still held 1,008,791 shares as of 09/30/2011.

Reduced: Jakks Pacific Inc. (JAKK)

Third Avenue Management reduced to his holdings in Jakks Pacific Inc. by 39.84%. His sale prices were between $14.37 and $19.88, with an estimated average price of $17.49. The impact to his portfolio due to this sale was -0.24%. Third Avenue Management still held 951,515 shares as of 09/30/2011.

Reduced: National Western Life Insurance Company (NWLI)

Third Avenue Management reduced to his holdings in National Western Life Insurance Company by 29.66%. His sale prices were between $134.3 and $177.56, with an estimated average price of $153.76. The impact to his portfolio due to this sale was -0.14%. Third Avenue Management still held 105,182 shares as of 09/30/2011.

Reduced: Tidewater Inc. (TDW)

Third Avenue Management reduced to his holdings in Tidewater Inc. by 21.41%. His sale prices were between $42.94 and $55.86, with an estimated average price of $52.33. The impact to his portfolio due to this sale was -0.14%. Third Avenue Management still held 465,281 shares as of 09/30/2011.

Reduced: Ipath Dow Jones Ubs Agriculture Subindextotal Retu (JJA)

Third Avenue Management reduced to his holdings in Ipath Dow Jones Ubs Agriculture Subindextotal Retu by 52.45%. His sale prices were between $54.276 and $65.64, with an estimated average price of $60.9. The impact to his portfolio due to this sale was -0.08%. Third Avenue Management still held 62,989 shares as of 09/30/2011.

Reduced: Imation Corp. (IMN)

Third Avenue Management reduced to his holdings in Imation Corp. by 59.39%. His sale prices were between $6.72 and $9.92, with an estimated average price of $7.81. The impact to his portfolio due to this sale was -0.08%. Third Avenue Management still held 289,779 shares as of 09/30/2011.

Reduced: Denison Mines Corp. (DNN)

Third Avenue Management reduced to his holdings in Denison Mines Corp. by 67.97%. His sale prices were between $1.08 and $2.15, with an estimated average price of $1.66. The impact to his portfolio due to this sale was -0.05%. Third Avenue Management still held 588,900 shares as of 09/30/2011.

Reduced: Alto Palermo S.a. (APSA)

Third Avenue Management reduced to his holdings in Alto Palermo S.a. by 46.63%. His sale prices were between $14.2 and $22.77, with an estimated average price of $19.56. The impact to his portfolio due to this sale was -0.02%. Third Avenue Management still held 44,100 shares as of 09/30/2011.

Reduced: Encore Wire Corp. (WIRE)

Third Avenue Management reduced to his holdings in Encore Wire Corp. by 42.04%. The impact to his portfolio due to this sale was -0.31%. Third Avenue Management still held 815,633 shares as of 09/30/2011.

Reduced: Cross Country Healthcare Inc. (CCRN)

Third Avenue Management reduced to his holdings in Cross Country Healthcare Inc. by 26.36%. The impact to his portfolio due to this sale was -0.17%. Third Avenue Management still held 4,484,742 shares as of 09/30/2011.

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gurufocus
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