Third Avenue Value Fund just reported its portfolio as of July
31. The fund was founded by legendary value investor Marty
Whitman. It have been managed by his
prot�g� Ian Lapey since last year.
Since he took over, Ian Lapey has been reducing some of the
favorite holdings of Marty Whitman, such as Forest City. He tends
to buy more US stocks instead of those in Hong Kong., although he
did add to some of those. The fund buys Cheung Kong (holdings)
Limited (adr), Devon Energy Corporation, Symantec Corporation,
Applied Materials, Inc., Tellabs, Inc., Alleghany Corporation,
Comerica Incorporated, White Mountains Insurance Group, Ltd.,
Sycamore Networks, Inc., Keycorp, Stanley Furniture Co., sells
Forest City Enterprises, Inc., Cenovus Energy Inc (usa), Forest
City Enterprises, Inc., Carver Bancorp, Inc. during the 3-months
ended 07/31/2012, according to the most recent filings of his
investment company, Third Avenue Value Fund. As of 07/31/2012,
Third Avenue Value Fund owns 45 stocks with a total value of $2.5
billion. These are the details of the buys and sells.
This is the portfolio chart of Third Avenue Value Fund. You can
click on the legend of the chart to show/hide buys, sells, or
holdings. Each ball on the chart represents a position in the
portfolio. You can move your mouse on the balls to see the
details of each position and click to see the details of all guru
trades with this position.
- New Purchases:
SYMC
,
STLY
,
- Added Positions:
CHEUY
,
DVN
,
AMAT
,
TLAB
,
Y
,
CMA
,
WTM
,
SCMR
,
KEY
,
- Reduced Positions:
FCE.A
,
- Sold Out:
CVE
,
FCE.B
,
CARV
,
For the details of Third Avenue Value Fund's stock buys and
sells, go to
http://www.gurufocus.com/StockBuy.php?GuruName=Martin+Whitman
This is the
sector weightings of his portfolio:
|
Not Assigned
|
53.2%
|
|
Financials
|
19.2%
|
|
Industrials
|
8.5% |
|
Oil & Gas
|
7.6% |
|
Technology
|
4.6% |
|
Consumer Goods
|
1.9% |
New Purchase: Symantec Corporation (
SYMC
)
Third Avenue Value Fund initiated holdings in Symantec
Corporation. His purchase prices were between $13.18 and $16.46,
with an estimated average price of $14.68. The impact to his
portfolio due to this purchase was 0.97%. His holdings were
1,550,000 shares as of 07/31/2012. Symantec, a world leader in
Internet security technology, provides a broad range of content
security solutions to individuals and companies. Symantec
Corporation has a market cap of $13.01 billion; its shares were
traded at around $18.005 with a P/E ratio of 13.1 and P/S ratio
of 1.9. Symantec Corporation had an annual average earnings
growth of 13.2% over the past 10 years. GuruFocus rated Symantec
Corporation the business predictability rank of 4-star.
New Purchase: Stanley Furniture Co. (
STLY
)
Third Avenue Value Fund initiated holdings in Stanley Furniture
Co.. His purchase prices were between $3.83 and $4.59, with an
estimated average price of $4.12. The impact to his portfolio due
to this purchase was 0.02%. His holdings were 92,333 shares as of
07/31/2012. Stanley Furniture Company is a designer and
manufacturer of residential wood furniture exclusively targeted
at the upper-medium price range. Stanley Furniture Co. has a
market cap of $72.8 million; its shares were traded at around
$4.75 with and P/S ratio of 0.7.
Sold Out: Cenovus Energy Inc (usa) (
CVE
)
Third Avenue Value Fund sold out his holdings in Cenovus Energy
Inc (usa). His sale prices were between $29.42 and $35.95, with
an estimated average price of $31.82. Cenovus Energy is an
integrated oil company headquartered in Calgary, Alberta. Cenovus
Energy Inc (usa) has a market cap of $26.65 billion; its shares
were traded at around $34.65 with a P/E ratio of 21.8 and P/S
ratio of 1.7. The dividend yield of Cenovus Energy Inc (usa)
stocks is 2.5%.
Sold Out: Forest City Enterprises, Inc. (
FCE.B
)
Third Avenue Value Fund sold out his holdings in Forest City
Enterprises, Inc.. His sale prices were between $13.09 and $16.2,
with an estimated average price of $14.27. FOREST CITY-B is
principally engaged in the ownership, development, acquisition
and management of commercial and residential real estate
throughout the United States. Forest City Enterprises, Inc. has a
market cap of $2.74 billion; its shares were traded at around
$15.6 with a P/E ratio of 15.4 and P/S ratio of 2.5.
Sold Out: Carver Bancorp, Inc. (
CARV
)
Third Avenue Value Fund sold out his holdings in Carver Bancorp,
Inc.. His sale prices were between $2.65 and $7.8, with an
estimated average price of $4.45. CARVER BANCORP INC. is a
holding company engaged in general banking business. with and P/S
ratio of 0.45.
Added: Cheung Kong (holdings) Limited (adr) (
CHEUY
)
Third Avenue Value Fund added to his holdings in Cheung Kong
(holdings) Limited (adr) by 50.64%. His purchase prices were
between $11.17 and $13.4, with an estimated average price of
$12.19. The impact to his portfolio due to this purchase was
3.08%. His holdings were 16,220,000 shares as of 07/31/2012.
Cheung Kong Holding is involved in the Financial Services
Industry. Cheung Kong (holdings) Limited (adr) has a market cap
of $33.7 billion; its shares were traded at around $14.77 with
and P/S ratio of 6.2. The dividend yield of Cheung Kong
(holdings) Limited (adr) stocks is 2.5%. Cheung Kong (holdings)
Limited (adr) had an annual average earnings growth of 8.7% over
the past 10 years.
Added: Devon Energy Corporation (
DVN
)
Third Avenue Value Fund added to his holdings in Devon Energy
Corporation by 117.19%. His purchase prices were between $54.5
and $68.32, with an estimated average price of $59.21. The impact
to his portfolio due to this purchase was 1.46%. His holdings
were 1,125,344 shares as of 07/31/2012. Devon Energy Corporation
is an independent energy company engaged primarily in oil and gas
exploration, development and production, and in the acquisition
of producing properties. Devon Energy Corporation has a market
cap of $24.73 billion; its shares were traded at around $60.27
with a P/E ratio of 13 and P/S ratio of 2.2. The dividend yield
of Devon Energy Corporation stocks is 1.3%.
Added: Applied Materials, Inc. (
AMAT
)
Third Avenue Value Fund added to his holdings in Applied
Materials, Inc. by 33.39%. His purchase prices were between
$10.13 and $11.76, with an estimated average price of $10.82. The
impact to his portfolio due to this purchase was 0.48%. His
holdings were 4,414,207 shares as of 07/31/2012. Applied
Materials develops, manufactures, markets and services
semiconductor wafer fabrication equipment and related spare parts
for the worldwide semiconductor industry. Applied Materials, Inc.
has a market cap of $14.68 billion; its shares were traded at
around $11.145 with a P/E ratio of 12.7 and P/S ratio of 1.4. The
dividend yield of Applied Materials, Inc. stocks is 3.2%.
Added: Tellabs, Inc. (
TLAB
)
Third Avenue Value Fund added to his holdings in Tellabs, Inc. by
33.02%. His purchase prices were between $2.96 and $3.83, with an
estimated average price of $3.47. The impact to his portfolio due
to this purchase was 0.42%. His holdings were 12,897,668 shares
as of 07/31/2012. Tellabs helps the world's communications
service providers build tomorrow's converged networks of voice,
data and video. Tellabs, Inc. has a market cap of $1.33 billion;
its shares were traded at around $3.53 with and P/S ratio of 1.
The dividend yield of Tellabs, Inc. stocks is 2.2%.
Added: Alleghany Corporation (
Y
)
Third Avenue Value Fund added to his holdings in Alleghany
Corporation by 70.68%. His purchase prices were between $320.45
and $346.85, with an estimated average price of $335.05. The
impact to his portfolio due to this purchase was 0.39%. His
holdings were 68,099 shares as of 07/31/2012. ALLEGHANY CORP. is
engaged, through its subsidiaries Chicago Title and Trust Company
(``CT&T``), Chicago Title Insurance Company (``CTI``),
Security Union Title Insurance Company (``Security Union``) and
Ticor Title Insurance Company (``Ticor Title``) and their
subsidiaries, in the sale and underwriting of title insurance and
in other real estate-related services businesses, and through
CT&T's subsidiary, Alleghany Asset Management, Inc. Alleghany
Corporation has a market cap of $5.98 billion; its shares were
traded at around $347.9 with a P/E ratio of 20.3 and P/S ratio of
6.1. Alleghany Corporation had an annual average earnings growth
of 2.1% over the past 10 years.
Added: White Mountains Insurance Group, Ltd.
(WTM)
Third Avenue Value Fund added to his holdings in White Mountains
Insurance Group, Ltd. by 50.36%. His purchase prices were between
$499 and $545.91, with an estimated average price of $521.85. The
impact to his portfolio due to this purchase was 0.22%. His
holdings were 32,520 shares as of 07/31/2012. White Mountains
Insurance Group, Ltd. is engaged in the business of property and
casualty insurance and reinsurance. White Mountains Insurance
Group, Ltd. has a market cap of $3.43 billion; its shares were
traded at around $513.45 with a P/E ratio of 14.9 and P/S ratio
of 1.6. The dividend yield of White Mountains Insurance Group,
Ltd. stocks is 0.2%.
Added: Comerica Incorporated (CMA)
Third Avenue Value Fund added to his holdings in Comerica
Incorporated by 37.76%. His purchase prices were between $28.3
and $32.58, with an estimated average price of $30.29. The impact
to his portfolio due to this purchase was 0.22%. His holdings
were 675,000 shares as of 07/31/2012. Comerica Inc. is a
registered bank holding company. Comerica Incorporated has a
market cap of $6.05 billion; its shares were traded at around
$30.97 with a P/E ratio of 11.8 and P/S ratio of 2.3. The
dividend yield of Comerica Incorporated stocks is 1.9%.
Added: Sycamore Networks, Inc. (SCMR)
Third Avenue Value Fund added to his holdings in Sycamore
Networks, Inc. by 14.99%. His purchase prices were between $13.12
and $15.33, with an estimated average price of $14.19. The impact
to his portfolio due to this purchase was 0.16%. His holdings
were 2,085,374 shares as of 07/31/2012. Sycamore Networks Inc.
develop and market products that transport voice and data traffic
over wavelengths of light. Sycamore Networks, Inc. has a market
cap of $445.7 million; its shares were traded at around $15.41
with and P/S ratio of 9.2. Sycamore Networks, Inc. had an annual
average earnings growth of 11% over the past 5 years.
Added: Keycorp (KEY)
Third Avenue Value Fund added to his holdings in Keycorp by
4.03%. His purchase prices were between $6.92 and $8.16, with an
estimated average price of $7.61. The impact to his portfolio due
to this purchase was 0.14%. His holdings were 10,963,132 shares
as of 07/31/2012. KeyCorp is an integrated multi-line financial
services company. Keycorp has a market cap of $8.41 billion; its
shares were traded at around $8.75 with a P/E ratio of 10 and P/S
ratio of 1.8. The dividend yield of Keycorp stocks is 2.2%.
Reduced: Forest City Enterprises, Inc. (FCE.A)
Third Avenue Value Fund reduced to his holdings in Forest City
Enterprises, Inc. by 34.58%. His sale prices were between $13.01
and $16.06, with an estimated average price of $14.3. The impact
to his portfolio due to this sale was -1.76%. Third Avenue Value
Fund still held 5,391,578 shares as of 07/31/2012. 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 $2.71 billion; its shares
were traded at around $15.795 with a P/E ratio of 15.2 and P/S
ratio of 2.5.
Here is the complete portfolio of Third Avenue Value Fund. Also
check out the Undervalued Stocks, Top Growth Companies, and High
Yield stocks of Third Avenue Value Fund.About GuruFocus:
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