In his latest shareholder letter, 85-year old Marty Whitman shared the lessons he learned from the crash of 2008. He is convinced that Hong Kong is the place to invest. He is heavily invested in real estate. This is the equity portfolio of Third Avenue Value Fund as of 7/31/2009.
Martin Whitman sells CIT Group Inc., Radian Group Inc. during the 3-months ended 07/31/2009, according to the most recent filings of his investment company, Third Avenue Value Fund. Martin Whitman owns 102 stocks with a total value of $4.7 billion. These are the details of the buys and sells.
Added Positions: FCE-A,
Sold Out: CIT, RDN,
For the details of Martin Whitman's stock buys and sells, go to the Link Here
These are the top 5 holdings of Martin Whitman
- HENDERSON LAND DEV (HLDVF.PK) - 119,598,738 shares, 16.82% of the total portfolio
- CHEUNG KONG HOLDINGS (CHEUY.PK) - 53,819,000 shares, 14.8% of the total portfolio
- TOYOTA INDUSTRIES CP (TYIDF.PK) - 18,576,400 shares, 10.7% of the total portfolio
- POSCO (PKX) - 3,500,000 shares, 7.53% of the total portfolio
- WHEELOCK & CO LTD HK (WHLKF.PK) - 87,069,500 shares, 5.26% of the total portfolio
Added: Forest City Enterprises Inc. (FCE-A)
Martin Whitman added to his holdings in Forest City Enterprises Inc. by 21.28%. The impact to his portfolio due to this purchase was 0.37%. His holdings were 13,764,203 shares as of 07/31/2009.
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 $920.7 million; its shares were traded at around $8.9 with and P/S ratio of 0.7. Forest City Enterprises Inc. had an annual average earning growth of 5.5% over the past 10 years. GuruFocus rated Forest City Enterprises Inc. the business predictability rank of 5-star.
Sold Out: CIT Group Inc. (NYSE:CIT)
Martin Whitman sold out his holdings in CIT Group Inc..
CIT Group Inc. is a leading commercial and consumer finance company provides clients with financing and leasing products and advisory services. CIT Group Inc. has a market cap of $571.7 million; its shares were traded at around $1.47 with and P/S ratio of 0.1. CIT Group Inc. had an annual average earning growth of 27.2% over the past 5 years.
Sold Out: Radian Group Inc. (NYSE:RDN)
Martin Whitman sold out his holdings in Radian Group Inc..
Radian Group Inc. is the parent company of Radian Guaranty Inc. The company provides private mortgage insurance and risk management services to mortgage lenders nationwide; these services increase homeownership opportunities by helping people to buy homes with down payments of less than 20 percent. Private mortgage insurance protects lenders from default-related losses on residential first mortgages and facilitates the sale of low-down-payment mortgage loans in the secondary market. (PRESS RELEASE) Radian Group Inc. has a market cap of $712.5 million; its shares were traded at around $8.7 with and P/S ratio of 0.4. The dividend yield of Radian Group Inc. stocks is 0.1%.