Third Avenue Management was founded by Martin Whitman (Trades, Portfolio) in 1986. During the fourth quarter, the Third Avenue Value Fund traded the following stocks.
The fund closed its position in Ralph Lauren Corp. (RL, Financial), impacting the portfolio by -2.19%.
The fashion apparel manufacturer has a market cap of $8.53 billion and an enterprise value of $7.77 billion.
GuruFocus gives the company a profitability and growth rating of 7 out of 10. The return on equity (ROE) of 2.33% and return on assets (ROA) of 1.37% are underperforming 78% of companies in the Global Apparel Manufacturing industry. Financial strength has a rating of 7 out of 10. The cash-debt ratio of 1.89 is above the industry median of 1.50.
Jim Simons (Trades, Portfolio) is the company's largest shareholder among the gurus with 1.1% of outstanding shares, followed by Steven Cohen (Trades, Portfolio) with 0.43% and Joel Greenblatt (Trades, Portfolio) with 0.41%.
The fund's Brookdale Senior Living Inc. (BKD, Financial) position was closed. The trade had an impact of -1.97% on the portfolio.
The operator of senior living communities has a market cap of $1.75 billion and an enterprise value of $6.73 billion.
GuruFocus gives the company a profitability and growth rating of 6 out of 10. The ROE of -43.58% and ROA of -9.86% are underperforming 89% of companies in the Global Long-Term Care Facilities industry. Financial strength has a rating of 4 out of 10. The cash-debt ratio of 0.10 is below the industry median of 0.37.
The company's largest guru shareholder is Larry Robbins (Trades, Portfolio) with 24.23% of outstanding shares, followed by John Paulson (Trades, Portfolio) with 7.67% and Chuck Royce (Trades, Portfolio) with 1.77%.
The fund divested of its Avnet Inc. (AVT, Financial) holding. The transaction had an impact of -1.7% on the portfolio.
The electronic components distributor has a market cap of $5.05 billion and an enterprise value of $5.98 billion.
GuruFocus gives the company a profitability and growth rating of 4 out of 10. The ROE of 10.28% and ROA of 4.80% are outperforming 61% of companies in the Global Electronics Distribution industry. Financial strength has a rating of 7 out of 10. The cash-debt ratio of 0.44 is below the industry median of 1.44.
With 6.74% of outstanding shares, Richard Pzena (Trades, Portfolio) is the company's largest guru shareholder, followed by Hotchkis & Wiley with 1.24% and First Pacific Advisors (Trades, Portfolio) with 1.02%.
The fund established a 584,173-share position in Tidewater Inc. (TDW, Financial), expanding the portfolio 1.65%.
The company, which provides vessels to the offshore drilling industry, has a market cap of $622.4 billion and an enterprise value of $615.13 million.
GuruFocus gives the company a profitability and growth rating of 2 out of 10. The ROE of -184.03% and ROA of -69.08% are underperforming 99% of the companies in the Global Oil and Gas Equipment and Services industry. Financial strength has a rating of 4 out of 10. The cash-debt ratio of 1.02 is above the industry median of 0.52.
The company's largest shareholder among the gurus is Third Avenue Management (Trades, Portfolio) with 2.89% of outstanding shares, followed by the fund with 2.67%.
Third Avenue exited its position in Shire PLC (SHPG, Financial). The trade had an impact of -1.64% on the portfolio.
The Irish biotechnology company has a market cap of $47.86 billion and an enterprise value of $66.55 billion.
GuruFocus gives the company a profitability and growth rating of 8 out of 10. The ROE of 5.35% and ROA of 2.41% are outperforming 79% of companies in the Global Biotechnology industry. Financial strength has a rating of 4 out of 10. The cash-debt ratio of 0.01 is below the industry median of 51.38.
Robbins is the company's largest guru shareholder with 1.94% of outstanding shares, followed by Paulson with 1.04% and Lee Ainslie (Trades, Portfolio) with 0.65%.
The LivaNova PLC (LIVN, Financial) holding was trimmed 58.86%, impacting the portfolio by -1.45%.
The medical technology company has a market cap of $3.93 billion and an enterprise value of $3.97 billion.
GuruFocus gives the company a profitability and growth rating of 8 out of 10. The ROE of 3.15% and ROA of 2.30% are outperforming 50% of companies in the Global Medical Devices industry. Financial strength has a rating of 7 out of 10. The cash-debt ratio of 0.53 is below the industry median of 2.87.
The largest shareholder of the company among the gurus is Columbia Wanger (Trades, Portfolio) with 3.1% of outstanding shares, followed by Cohen with 1.26%, Simons with 1.15% and NWQ Managers (Trades, Portfolio) with 1.04%.
The fund purchased 408,422 shares of Warrior Met Coal Inc. (HCC, Financial), giving it 1.1% portfolio space.
The metallurgical coal miner has a market cap of $1.47 billion and an enterprise value of $1.22 billion.
GuruFocus gives the company a profitability and growth rating of 2 out of 10. The ROE of 62.56% and ROA of 49.68% are outperforming 94% of companies in the Global Coal industry. Financial strength has a rating of 9 out of 10. The cash-debt ratio of 56.55 is above the industry median on 0.52.
Simons is the company's largest guru shareholder with 0.95% of outstanding shares, followed by the fund with 0.76% and Paul Tudor Jones (Trades, Portfolio) with 0.06%.
Disclosure: I do not own any stocks mentioned in this article.
