1. How to use GuruFocus - Tutorials
  2. What Is in the GuruFocus Premium Membership?
  3. A DIY Guide on How to Invest Using Guru Strategies
Tiziano Frateschi
Tiziano Frateschi
Articles (2015)  | Author's Website |

Third Avenue Value Fund Exits Several Positions in 1st Quarter

Fund's largest sale was Total SA

The Third Avenue Value Fund (Trades, Portfolio) sold shares of the following stocks during the first quarter.

The fund sold out of Total SA (XPAR:FP). The trade had an impact of -3.14% on the portfolio.

292d3a60-5c2b-11e9-bb4d-df9a90198bd1.png

Third Avenue's Ocean Rig UDW Inc. (NASDAQ:ORIG) position was dissolved following its merger with Transocean Ltd. (RIG). The trade had an impact of -3% on the portfolio.

1174e3e0-5c2b-11e9-aac9-c9ff45963465.png

The offshore drilling contractor has a market cap of $2.54 billion and an enterprise value of $2.22 billion.

GuruFocus gives the company a profitability and growth rating of 6 out of 10. The return on equity of 3.79% and return on assets of 3.05% are outperforming 64% of companies in the Global Oil and Gas Drilling industry. Its financial strength is rated 7 out of 10. The cash-debt ratio of 1.93 is above the industry median of 0.40.

The fund closed its Bank of New York Mellon Corp. (NYSE:BK) holding. The trade had an impact of -2.78% on the portfolio.

35002bd0-5c2b-11e9-b7fb-f1408df127ca.png

The investment bank has a market cap of $48.97 billion.

GuruFocus gives the company a profitability and growth rating of 3 out of 10. While the return on equity of 9.85% is outperforming the sector, the return on assets of 1.18% is underperforming 55% of companies in the Global Asset Management industry. Its financial strength is rated 4 out of 10. The cash-debt ratio of 2.85 is far below the industry median of 480.

The company's largest guru shareholder is Warren Buffett (Trades, Portfolio) with 8.48% of outstanding shares, followed by Dodge & Cox with 5.26%, First Eagle Investment (Trades, Portfolio) with 2.03% and Chris Davis (Trades, Portfolio) with 1.83%.

The fund divested of its White Mountains Insurance Group Ltd. (NYSE:WTM) holding, impacting the portfolio by -2.69%.

3f60ddf0-5c2b-11e9-86fe-7bd07ab46b59.png

The specialty property and casualty insurance provider has a market cap of $2.9 billion and an enterprise value of $2.64 billion.

GuruFocus gives the company a profitability and growth rating of 2 out of 10. The return on equity of -4.52% and return on assets of -4.06% are outperforming 89% of companies in the Global Insurance - Property and Casualty industry. Its financial strength is rated 5 out of 10. The cash-debt ratio of 0.57 is below the industry median of 2.82.

The company's largest guru shareholder is Jim Simons (Trades, Portfolio)’ Renaissance Technologies with 0.48% of outstanding shares, followed by the Hotchkis & Wiley with 0.07% and Chuck Royce (Trades, Portfolio) with 0.07%.

The Value Fund trimmed 53.65% off Brookfield Asset Management Inc. (BAM.A) holding, impacting the portfolio by -2.62%.

50653f60-5c2b-11e9-9cec-6f4a435c7399.png

Third Avenue reduced its CK Hutchison Holdings Ltd. (HKSE:00001) stake by 26.43%, impacting the portfolio by -1.51%.

598877e0-5c2b-11e9-8035-0b24ed068f9d.png

The fund reduced its position in Lennar Corp. (NYSE:LEN) by 44.02%, impacting the portfolio by -1.26%.

65abd040-5c2b-11e9-93c9-991b327e5ce6.png

The homebuilder has a market cap of $16.04 billion and an enterprise value of $25.49 billion.

GuruFocus gives the company a profitability and growth rating of 8 out of 10. The return on equity of 12.74% and return on assets of 6.34% are outperforming 66% of companies in the Global Residential Construction industry. Its financial strength is rated 4 out of 10. The cash-debt ratio of 0.10 is below the industry median of 0.35.

The company's largest guru shareholder is Glenn Greenberg (Trades, Portfolio) with 1.06% of outstanding shares, followed by Barrow, Hanley, Mewhinney & Strauss with 0.80%, Ken Fisher (Trades, Portfolio) with 0.52%, Simons’ firm with 0.50% and the Smead Value Fund (Trades, Portfolio) with 0.28%.

Third Avenue curbed its Bayerische Motoren Werke AG (BMW) holding by 5.12%. The trade had an impact of -0.25% on the portfolio.

735f89c0-5c2b-11e9-ba0b-0d9814288af0.png

Disclosure: I do not own any stocks mentioned.

Read more here:

Not a Premium Member of GuruFocus? Sign up for a free 7-day trial here.

About the author:

Tiziano Frateschi
You can read about me on www.theextraincome.info, which gives suggestions on position trading.

Visit Tiziano Frateschi's Website


Rating: 0.0/5 (0 votes)

Comments

Please leave your comment:


Performances of the stocks mentioned by Tiziano Frateschi


User Generated Screeners


pjmason14Momentum
pascal.van.garsseHigh FCF-M2
kosalmmuse6
kosalmmuseBest one1
DBrizanall 2019Feb26
kosalmmuseBest one
DBrizanall 2019Feb25
kosalmmuseNice
kosalmmusehan
MsDale*52-Week Low
Get WordPress Plugins for easy affiliate links on Stock Tickers and Guru Names | Earn affiliate commissions by embedding GuruFocus Charts
GuruFocus Affiliate Program: Earn up to $400 per referral. ( Learn More)

GF Chat

{{numOfNotice}}
FEEDBACK