Third Avenue Value Fund just reported its portfolio as of July 31. The fund was founded by legendary value investor Marty Whitman. It have been managed by his protégé Ian Lapey since last year.
Since he took over, Ian Lapey has been reducing some of the favorite holdings of Marty Whitman, such as Forest City. He tends to buy more US stocks instead of those in Hong Kong., although he did add to some of those. The fund buys Cheung Kong (holdings) Limited (adr), Devon Energy Corporation, Symantec Corporation, Applied Materials, Inc., Tellabs, Inc., Alleghany Corporation, Comerica Incorporated, White Mountains Insurance Group, Ltd., Sycamore Networks, Inc., Keycorp, Stanley Furniture Co., sells Forest City Enterprises, Inc., Cenovus Energy Inc (usa), Forest City Enterprises, Inc., Carver Bancorp, Inc. during the 3-months ended 07/31/2012, according to the most recent filings of his investment company, Third Avenue Value Fund. As of 07/31/2012, Third Avenue Value Fund owns 45 stocks with a total value of $2.5 billion. These are the details of the buys and sells.
This is the portfolio chart of Third Avenue Value Fund. 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.
This is the sector weightings of his portfolio:
New Purchase: Symantec Corporation (SYMC, Financial)
Third Avenue Value Fund initiated holdings in Symantec Corporation. His purchase prices were between $13.18 and $16.46, with an estimated average price of $14.68. The impact to his portfolio due to this purchase was 0.97%. His holdings were 1,550,000 shares as of 07/31/2012. Symantec, a world leader in Internet security technology, provides a broad range of content security solutions to individuals and companies. Symantec Corporation has a market cap of $13.01 billion; its shares were traded at around $18.005 with a P/E ratio of 13.1 and P/S ratio of 1.9. Symantec Corporation had an annual average earnings growth of 13.2% over the past 10 years. GuruFocus rated Symantec Corporation the business predictability rank of 4-star.
New Purchase: Stanley Furniture Co. (STLY, Financial)
Third Avenue Value Fund initiated holdings in Stanley Furniture Co.. His purchase prices were between $3.83 and $4.59, with an estimated average price of $4.12. The impact to his portfolio due to this purchase was 0.02%. His holdings were 92,333 shares as of 07/31/2012. Stanley Furniture Company is a designer and manufacturer of residential wood furniture exclusively targeted at the upper-medium price range. Stanley Furniture Co. has a market cap of $72.8 million; its shares were traded at around $4.75 with and P/S ratio of 0.7.
Sold Out: Cenovus Energy Inc (usa) (CVE, Financial)
Third Avenue Value Fund sold out his holdings in Cenovus Energy Inc (usa). His sale prices were between $29.42 and $35.95, with an estimated average price of $31.82. Cenovus Energy is an integrated oil company headquartered in Calgary, Alberta. Cenovus Energy Inc (usa) has a market cap of $26.65 billion; its shares were traded at around $34.65 with a P/E ratio of 21.8 and P/S ratio of 1.7. The dividend yield of Cenovus Energy Inc (usa) stocks is 2.5%.
Sold Out: Forest City Enterprises, Inc. (FCE.B, Financial)
Third Avenue Value Fund sold out his holdings in Forest City Enterprises, Inc.. His sale prices were between $13.09 and $16.2, with an estimated average price of $14.27. FOREST CITY-B is principally engaged in the ownership, development, acquisition and management of commercial and residential real estate throughout the United States. Forest City Enterprises, Inc. has a market cap of $2.74 billion; its shares were traded at around $15.6 with a P/E ratio of 15.4 and P/S ratio of 2.5.
Sold Out: Carver Bancorp, Inc. (CARV)
Third Avenue Value Fund sold out his holdings in Carver Bancorp, Inc.. His sale prices were between $2.65 and $7.8, with an estimated average price of $4.45. CARVER BANCORP INC. is a holding company engaged in general banking business. with and P/S ratio of 0.45.
Added: Cheung Kong (holdings) Limited (adr) (CHEUY)
Third Avenue Value Fund added to his holdings in Cheung Kong (holdings) Limited (adr) by 50.64%. His purchase prices were between $11.17 and $13.4, with an estimated average price of $12.19. The impact to his portfolio due to this purchase was 3.08%. His holdings were 16,220,000 shares as of 07/31/2012. Cheung Kong Holding is involved in the Financial Services Industry. Cheung Kong (holdings) Limited (adr) has a market cap of $33.7 billion; its shares were traded at around $14.77 with and P/S ratio of 6.2. The dividend yield of Cheung Kong (holdings) Limited (adr) stocks is 2.5%. Cheung Kong (holdings) Limited (adr) had an annual average earnings growth of 8.7% over the past 10 years.
Added: Devon Energy Corporation (DVN, Financial)
Third Avenue Value Fund added to his holdings in Devon Energy Corporation by 117.19%. His purchase prices were between $54.5 and $68.32, with an estimated average price of $59.21. The impact to his portfolio due to this purchase was 1.46%. His holdings were 1,125,344 shares as of 07/31/2012. Devon Energy Corporation is an independent energy company engaged primarily in oil and gas exploration, development and production, and in the acquisition of producing properties. Devon Energy Corporation has a market cap of $24.73 billion; its shares were traded at around $60.27 with a P/E ratio of 13 and P/S ratio of 2.2. The dividend yield of Devon Energy Corporation stocks is 1.3%.
Added: Applied Materials, Inc. (AMAT)
Third Avenue Value Fund added to his holdings in Applied Materials, Inc. by 33.39%. His purchase prices were between $10.13 and $11.76, with an estimated average price of $10.82. The impact to his portfolio due to this purchase was 0.48%. His holdings were 4,414,207 shares as of 07/31/2012. Applied Materials develops, manufactures, markets and services semiconductor wafer fabrication equipment and related spare parts for the worldwide semiconductor industry. Applied Materials, Inc. has a market cap of $14.68 billion; its shares were traded at around $11.145 with a P/E ratio of 12.7 and P/S ratio of 1.4. The dividend yield of Applied Materials, Inc. stocks is 3.2%.
Added: Tellabs, Inc. (TLAB)
Third Avenue Value Fund added to his holdings in Tellabs, Inc. by 33.02%. His purchase prices were between $2.96 and $3.83, with an estimated average price of $3.47. The impact to his portfolio due to this purchase was 0.42%. His holdings were 12,897,668 shares as of 07/31/2012. Tellabs helps the world's communications service providers build tomorrow's converged networks of voice, data and video. Tellabs, Inc. has a market cap of $1.33 billion; its shares were traded at around $3.53 with and P/S ratio of 1. The dividend yield of Tellabs, Inc. stocks is 2.2%.
Added: Alleghany Corporation (Y)
Third Avenue Value Fund added to his holdings in Alleghany Corporation by 70.68%. His purchase prices were between $320.45 and $346.85, with an estimated average price of $335.05. The impact to his portfolio due to this purchase was 0.39%. His holdings were 68,099 shares as of 07/31/2012. ALLEGHANY CORP. is engaged, through its subsidiaries Chicago Title and Trust Company (``CT&T``), Chicago Title Insurance Company (``CTI``), Security Union Title Insurance Company (``Security Union``) and Ticor Title Insurance Company (``Ticor Title``) and their subsidiaries, in the sale and underwriting of title insurance and in other real estate-related services businesses, and through CT&T's subsidiary, Alleghany Asset Management, Inc. Alleghany Corporation has a market cap of $5.98 billion; its shares were traded at around $347.9 with a P/E ratio of 20.3 and P/S ratio of 6.1. Alleghany Corporation had an annual average earnings growth of 2.1% over the past 10 years.
Added: White Mountains Insurance Group, Ltd. (WTM)
Third Avenue Value Fund added to his holdings in White Mountains Insurance Group, Ltd. by 50.36%. His purchase prices were between $499 and $545.91, with an estimated average price of $521.85. The impact to his portfolio due to this purchase was 0.22%. His holdings were 32,520 shares as of 07/31/2012. White Mountains Insurance Group, Ltd. is engaged in the business of property and casualty insurance and reinsurance. White Mountains Insurance Group, Ltd. has a market cap of $3.43 billion; its shares were traded at around $513.45 with a P/E ratio of 14.9 and P/S ratio of 1.6. The dividend yield of White Mountains Insurance Group, Ltd. stocks is 0.2%.
Added: Comerica Incorporated (CMA)
Third Avenue Value Fund added to his holdings in Comerica Incorporated by 37.76%. His purchase prices were between $28.3 and $32.58, with an estimated average price of $30.29. The impact to his portfolio due to this purchase was 0.22%. His holdings were 675,000 shares as of 07/31/2012. Comerica Inc. is a registered bank holding company. Comerica Incorporated has a market cap of $6.05 billion; its shares were traded at around $30.97 with a P/E ratio of 11.8 and P/S ratio of 2.3. The dividend yield of Comerica Incorporated stocks is 1.9%.
Added: Sycamore Networks, Inc. (SCMR)
Third Avenue Value Fund added to his holdings in Sycamore Networks, Inc. by 14.99%. His purchase prices were between $13.12 and $15.33, with an estimated average price of $14.19. The impact to his portfolio due to this purchase was 0.16%. His holdings were 2,085,374 shares as of 07/31/2012. Sycamore Networks Inc. develop and market products that transport voice and data traffic over wavelengths of light. Sycamore Networks, Inc. has a market cap of $445.7 million; its shares were traded at around $15.41 with and P/S ratio of 9.2. Sycamore Networks, Inc. had an annual average earnings growth of 11% over the past 5 years.
Added: Keycorp (KEY)
Third Avenue Value Fund added to his holdings in Keycorp by 4.03%. His purchase prices were between $6.92 and $8.16, with an estimated average price of $7.61. The impact to his portfolio due to this purchase was 0.14%. His holdings were 10,963,132 shares as of 07/31/2012. KeyCorp is an integrated multi-line financial services company. Keycorp has a market cap of $8.41 billion; its shares were traded at around $8.75 with a P/E ratio of 10 and P/S ratio of 1.8. The dividend yield of Keycorp stocks is 2.2%.
Reduced: Forest City Enterprises, Inc. (FCE.A)
Third Avenue Value Fund reduced to his holdings in Forest City Enterprises, Inc. by 34.58%. His sale prices were between $13.01 and $16.06, with an estimated average price of $14.3. The impact to his portfolio due to this sale was -1.76%. Third Avenue Value Fund still held 5,391,578 shares as of 07/31/2012. FOREST CITY ENTERPRI, INC. is a national real estate company which acquires, develops, lease & manages residential properties; owns, acquires, develops & manages retail, office & urban entertainment projects; acquires & sells both raw land & developed lots to commercial, industrial & residential users; & acts as a wholesale lumber trading company. Forest City Enterprises, Inc. has a market cap of $2.71 billion; its shares were traded at around $15.795 with a P/E ratio of 15.2 and P/S ratio of 2.5.
Here is the complete portfolio of Third Avenue Value Fund. Also check out the Undervalued Stocks, Top Growth Companies, and High Yield stocks of Third Avenue Value Fund.
Since he took over, Ian Lapey has been reducing some of the favorite holdings of Marty Whitman, such as Forest City. He tends to buy more US stocks instead of those in Hong Kong., although he did add to some of those. The fund buys Cheung Kong (holdings) Limited (adr), Devon Energy Corporation, Symantec Corporation, Applied Materials, Inc., Tellabs, Inc., Alleghany Corporation, Comerica Incorporated, White Mountains Insurance Group, Ltd., Sycamore Networks, Inc., Keycorp, Stanley Furniture Co., sells Forest City Enterprises, Inc., Cenovus Energy Inc (usa), Forest City Enterprises, Inc., Carver Bancorp, Inc. during the 3-months ended 07/31/2012, according to the most recent filings of his investment company, Third Avenue Value Fund. As of 07/31/2012, Third Avenue Value Fund owns 45 stocks with a total value of $2.5 billion. These are the details of the buys and sells.
This is the portfolio chart of Third Avenue Value Fund. 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.
- New Purchases: SYMC, STLY,
- Added Positions: CHEUY, DVN, AMAT, TLAB, Y, CMA, WTM, SCMR, KEY,
- Reduced Positions: FCE.A,
- Sold Out: CVE, FCE.B, CARV,
This is the sector weightings of his portfolio:
New Purchase: Symantec Corporation (SYMC, Financial)
Third Avenue Value Fund initiated holdings in Symantec Corporation. His purchase prices were between $13.18 and $16.46, with an estimated average price of $14.68. The impact to his portfolio due to this purchase was 0.97%. His holdings were 1,550,000 shares as of 07/31/2012. Symantec, a world leader in Internet security technology, provides a broad range of content security solutions to individuals and companies. Symantec Corporation has a market cap of $13.01 billion; its shares were traded at around $18.005 with a P/E ratio of 13.1 and P/S ratio of 1.9. Symantec Corporation had an annual average earnings growth of 13.2% over the past 10 years. GuruFocus rated Symantec Corporation the business predictability rank of 4-star.
New Purchase: Stanley Furniture Co. (STLY, Financial)
Third Avenue Value Fund initiated holdings in Stanley Furniture Co.. His purchase prices were between $3.83 and $4.59, with an estimated average price of $4.12. The impact to his portfolio due to this purchase was 0.02%. His holdings were 92,333 shares as of 07/31/2012. Stanley Furniture Company is a designer and manufacturer of residential wood furniture exclusively targeted at the upper-medium price range. Stanley Furniture Co. has a market cap of $72.8 million; its shares were traded at around $4.75 with and P/S ratio of 0.7.
Sold Out: Cenovus Energy Inc (usa) (CVE, Financial)
Third Avenue Value Fund sold out his holdings in Cenovus Energy Inc (usa). His sale prices were between $29.42 and $35.95, with an estimated average price of $31.82. Cenovus Energy is an integrated oil company headquartered in Calgary, Alberta. Cenovus Energy Inc (usa) has a market cap of $26.65 billion; its shares were traded at around $34.65 with a P/E ratio of 21.8 and P/S ratio of 1.7. The dividend yield of Cenovus Energy Inc (usa) stocks is 2.5%.
Sold Out: Forest City Enterprises, Inc. (FCE.B, Financial)
Third Avenue Value Fund sold out his holdings in Forest City Enterprises, Inc.. His sale prices were between $13.09 and $16.2, with an estimated average price of $14.27. FOREST CITY-B is principally engaged in the ownership, development, acquisition and management of commercial and residential real estate throughout the United States. Forest City Enterprises, Inc. has a market cap of $2.74 billion; its shares were traded at around $15.6 with a P/E ratio of 15.4 and P/S ratio of 2.5.
Sold Out: Carver Bancorp, Inc. (CARV)
Third Avenue Value Fund sold out his holdings in Carver Bancorp, Inc.. His sale prices were between $2.65 and $7.8, with an estimated average price of $4.45. CARVER BANCORP INC. is a holding company engaged in general banking business. with and P/S ratio of 0.45.
Added: Cheung Kong (holdings) Limited (adr) (CHEUY)
Third Avenue Value Fund added to his holdings in Cheung Kong (holdings) Limited (adr) by 50.64%. His purchase prices were between $11.17 and $13.4, with an estimated average price of $12.19. The impact to his portfolio due to this purchase was 3.08%. His holdings were 16,220,000 shares as of 07/31/2012. Cheung Kong Holding is involved in the Financial Services Industry. Cheung Kong (holdings) Limited (adr) has a market cap of $33.7 billion; its shares were traded at around $14.77 with and P/S ratio of 6.2. The dividend yield of Cheung Kong (holdings) Limited (adr) stocks is 2.5%. Cheung Kong (holdings) Limited (adr) had an annual average earnings growth of 8.7% over the past 10 years.
Added: Devon Energy Corporation (DVN, Financial)
Third Avenue Value Fund added to his holdings in Devon Energy Corporation by 117.19%. His purchase prices were between $54.5 and $68.32, with an estimated average price of $59.21. The impact to his portfolio due to this purchase was 1.46%. His holdings were 1,125,344 shares as of 07/31/2012. Devon Energy Corporation is an independent energy company engaged primarily in oil and gas exploration, development and production, and in the acquisition of producing properties. Devon Energy Corporation has a market cap of $24.73 billion; its shares were traded at around $60.27 with a P/E ratio of 13 and P/S ratio of 2.2. The dividend yield of Devon Energy Corporation stocks is 1.3%.
Added: Applied Materials, Inc. (AMAT)
Third Avenue Value Fund added to his holdings in Applied Materials, Inc. by 33.39%. His purchase prices were between $10.13 and $11.76, with an estimated average price of $10.82. The impact to his portfolio due to this purchase was 0.48%. His holdings were 4,414,207 shares as of 07/31/2012. Applied Materials develops, manufactures, markets and services semiconductor wafer fabrication equipment and related spare parts for the worldwide semiconductor industry. Applied Materials, Inc. has a market cap of $14.68 billion; its shares were traded at around $11.145 with a P/E ratio of 12.7 and P/S ratio of 1.4. The dividend yield of Applied Materials, Inc. stocks is 3.2%.
Added: Tellabs, Inc. (TLAB)
Third Avenue Value Fund added to his holdings in Tellabs, Inc. by 33.02%. His purchase prices were between $2.96 and $3.83, with an estimated average price of $3.47. The impact to his portfolio due to this purchase was 0.42%. His holdings were 12,897,668 shares as of 07/31/2012. Tellabs helps the world's communications service providers build tomorrow's converged networks of voice, data and video. Tellabs, Inc. has a market cap of $1.33 billion; its shares were traded at around $3.53 with and P/S ratio of 1. The dividend yield of Tellabs, Inc. stocks is 2.2%.
Added: Alleghany Corporation (Y)
Third Avenue Value Fund added to his holdings in Alleghany Corporation by 70.68%. His purchase prices were between $320.45 and $346.85, with an estimated average price of $335.05. The impact to his portfolio due to this purchase was 0.39%. His holdings were 68,099 shares as of 07/31/2012. ALLEGHANY CORP. is engaged, through its subsidiaries Chicago Title and Trust Company (``CT&T``), Chicago Title Insurance Company (``CTI``), Security Union Title Insurance Company (``Security Union``) and Ticor Title Insurance Company (``Ticor Title``) and their subsidiaries, in the sale and underwriting of title insurance and in other real estate-related services businesses, and through CT&T's subsidiary, Alleghany Asset Management, Inc. Alleghany Corporation has a market cap of $5.98 billion; its shares were traded at around $347.9 with a P/E ratio of 20.3 and P/S ratio of 6.1. Alleghany Corporation had an annual average earnings growth of 2.1% over the past 10 years.
Added: White Mountains Insurance Group, Ltd. (WTM)
Third Avenue Value Fund added to his holdings in White Mountains Insurance Group, Ltd. by 50.36%. His purchase prices were between $499 and $545.91, with an estimated average price of $521.85. The impact to his portfolio due to this purchase was 0.22%. His holdings were 32,520 shares as of 07/31/2012. White Mountains Insurance Group, Ltd. is engaged in the business of property and casualty insurance and reinsurance. White Mountains Insurance Group, Ltd. has a market cap of $3.43 billion; its shares were traded at around $513.45 with a P/E ratio of 14.9 and P/S ratio of 1.6. The dividend yield of White Mountains Insurance Group, Ltd. stocks is 0.2%.
Added: Comerica Incorporated (CMA)
Third Avenue Value Fund added to his holdings in Comerica Incorporated by 37.76%. His purchase prices were between $28.3 and $32.58, with an estimated average price of $30.29. The impact to his portfolio due to this purchase was 0.22%. His holdings were 675,000 shares as of 07/31/2012. Comerica Inc. is a registered bank holding company. Comerica Incorporated has a market cap of $6.05 billion; its shares were traded at around $30.97 with a P/E ratio of 11.8 and P/S ratio of 2.3. The dividend yield of Comerica Incorporated stocks is 1.9%.
Added: Sycamore Networks, Inc. (SCMR)
Third Avenue Value Fund added to his holdings in Sycamore Networks, Inc. by 14.99%. His purchase prices were between $13.12 and $15.33, with an estimated average price of $14.19. The impact to his portfolio due to this purchase was 0.16%. His holdings were 2,085,374 shares as of 07/31/2012. Sycamore Networks Inc. develop and market products that transport voice and data traffic over wavelengths of light. Sycamore Networks, Inc. has a market cap of $445.7 million; its shares were traded at around $15.41 with and P/S ratio of 9.2. Sycamore Networks, Inc. had an annual average earnings growth of 11% over the past 5 years.
Added: Keycorp (KEY)
Third Avenue Value Fund added to his holdings in Keycorp by 4.03%. His purchase prices were between $6.92 and $8.16, with an estimated average price of $7.61. The impact to his portfolio due to this purchase was 0.14%. His holdings were 10,963,132 shares as of 07/31/2012. KeyCorp is an integrated multi-line financial services company. Keycorp has a market cap of $8.41 billion; its shares were traded at around $8.75 with a P/E ratio of 10 and P/S ratio of 1.8. The dividend yield of Keycorp stocks is 2.2%.
Reduced: Forest City Enterprises, Inc. (FCE.A)
Third Avenue Value Fund reduced to his holdings in Forest City Enterprises, Inc. by 34.58%. His sale prices were between $13.01 and $16.06, with an estimated average price of $14.3. The impact to his portfolio due to this sale was -1.76%. Third Avenue Value Fund still held 5,391,578 shares as of 07/31/2012. FOREST CITY ENTERPRI, INC. is a national real estate company which acquires, develops, lease & manages residential properties; owns, acquires, develops & manages retail, office & urban entertainment projects; acquires & sells both raw land & developed lots to commercial, industrial & residential users; & acts as a wholesale lumber trading company. Forest City Enterprises, Inc. has a market cap of $2.71 billion; its shares were traded at around $15.795 with a P/E ratio of 15.2 and P/S ratio of 2.5.
Here is the complete portfolio of Third Avenue Value Fund. Also check out the Undervalued Stocks, Top Growth Companies, and High Yield stocks of Third Avenue Value Fund.
