13F filing recap · Q1 2014

What did Third Avenue Management buy in Q1 2014?

Reported stock-position changes between this filing and the previous one. US-listed stocks across every Third Avenue account, including accounts that belong to no fund below.

Stock value

$5.16B

Positions

157

Estimated turnover

21.7%

Turnover is a proxy: verified trade-origin share changes valued at period-end and divided by average reported stock value. SEC holdings reports do not disclose execution dates or prices. Corporate actions and unreconciled activity are excluded.

New positions

GGenpact Limited$37.45Mreported value+2.15M shares LABLMulti-Color Corporation$28.93Mreported value+826.7K shares PHHPhh Corporation$24.67Mreported value+954.7K shares PBProsperity Bancshares, Inc.$21.52Mreported value+325.4K shares ATUActuant Corporation$14.86Mreported value+435.2K shares EXLSExlservice Holdings, Inc.$14.11Mreported value+456.5K shares VZVerizon Communications Inc$7.86Mreported value+165.2K shares FSTForest Oil Corp.$7.64Mreported value+4.00M shares DNNDenison Mines Corp.$1.84Mreported value+1.25M shares TPLUSDTexas Pacific Land Corporation$1.16Mreported value+8.9K shares VODVodafone Group Public Ltd Co$226.0Kreported value+6.1K shares

Increased positions

PKXPosco Holdings Inc.$178.67Mreported value+31.8K shares+1.2%APAApa Corporation$122.62Mreported value+386.2K shares+35.4%OVVOvintiv Inc.$98.97Mreported value+967.9K shares+26.4%YAlleghany Corporation$91.78Mreported value+13.6K shares

Reduced positions

WYWeyerhaeuser Company$191.89Mreported value-1.68M shares-20.4%BNYThe Bank of New York Mellon Corporation$186.90Mreported value-1.82M shares-25.6%DVNDevon Energy Corp/de$171.52Mreported value-552.6K shares-17.7%BAMBrookfield Corporation$169.96Mreported value-1.12M shares

Exited positions

PKYParkway Properties, Inc.$56.23Mprior reported value-2.91M shares-100.0%NEMNewmont Corporation$21.82Mprior reported value-947.7K shares-100.0%ORBOrbital Sciences Corporation$18.14Mprior reported value-778.4K shares-100.0%JJSFJ&J Snack Foods Corp.$12.18Mprior reported value