Third Avenue Management Buys Investment Technology Group Inc., EnCana Corp, The Timberland Company, Sells Raymond James Financial Inc., Alliance Data Systems Corp., Jefferies Group Inc.

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Feb 24, 2009
Third Avenue Management, founded by legendary value investor Marty Whitman, had fine performances. However, their funds suffered large losses lately. At time like this, it is hard to keep faith in value. But if you still do, take a look at Third Avenue's portfolio. These are their buys and sells during the fourth quarter.


Third Avenue Management buys SPDR S&P 500, SPDR MSCI ACWI exUS ETF, The Timberland Company, sells Raymond James Financial Inc., Alliance Data Systems Corp., Jefferies Group Inc., Teck Cominco Ltd., Whiting Petroleum Corp., USG Corp., Industrias Bachoco S.A.B de C.V., Deltic Timber Corp., Berkshire Hills Bancorp Inc., Standex International Corp., IRSA Inversiones y Representaciones S.A., California First National Bancorp, ULTRASHORT FTSE/XINHUA CHINA 25 PROSHARES, Gouverneur Bancorp Inc, UltraShort MSCI Emerging Markets ProShar, Lundin Mining Corp. during the 3-months ended 12/31/2008, according to the most recent filings of his investment company, Third Avenue Management. Third Avenue Management owns 143 stocks with a total value of $4 billion. These are the details of the buys and sells.



New Purchases: CWI, SPY, TBL,

Added Positions: AMAT, AXB, CCRN, ECA, FCE-A, GWR, IIIN, ITG, KALU, NBR, PKX, PLD, SCMR, SM, SNPS, TDW, TLAB, XEC, ESIO, PDC, SCMR, SKY, STLY, TPGI, TRC,

Reduced Positions: ACGL, ALG, BELFA, BRKL, COA, CUZ, EGP, HRLY, IMN, JOE, JRT, LF, LM, LXK, NAL, NEM, PATR, PNX, RUS, UMC, WHG, EFII, GLT, HDLM.PK, HVT, JRN, RDN, RUS, SUP, WHG,

Sold Out: ADS, BHLB, CFNB, DEL, EEV, FXP, IBA, IRS, JEF, LMC, RJF, SXI, TCK, USG, WLL,


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