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Insights from N-PORT filings in Q1 2024
Third Avenue Value Fund (Trade, Portfolio), founded in 1990 by the renowned Martin J. Whitman, recently revealed its investment activity for the first quarter of 2024. The fund is known for its global all-cap equity approach and trends. For investment in credit securities. With a keen eye for financial strength and his NAV compounding potential, Third Avenue Value Fund (Trade, Portfolio) seeks investments that are significantly undervalued relative to their intrinsic business value. The fund’s latest N-PORT filing reveals strategic moves that reflect a commitment to long-term capital growth through a portfolio of contrarian and special situation opportunities.
New additions to portfolio
Third Avenue Value Fund (Trade, Portfolio) expands its portfolio with new acquisitions.
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The fund’s most important new holding is Bolsa Mexicana de Valores SAB de CV (Mexico: BOLSAA), with the purchase of 4,227,162 shares. This position accounts for 1.39% of his portfolio, totaling him 85.91 million MXN pesos.
key position rises
The fund also increased its stakes in several companies.
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CK Hutchison Holdings Ltd (HKSE:00001) added an additional 2,497,000 shares for a total of 3,560,480 shares. This would result in a significant increase in the number of shares by his 234.8% and an impact of his 2.08% on the current portfolio (valued at HK$183.89 million).
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S4 Capital PLC (LSE:SFOR) also experienced a significant share price increase with the addition of 7,558,242 shares, bringing its total holdings to 31,680,582 shares. This adjustment increases the number of shares by 31.33% to a total of 17.66 million shares.
Complete withdrawal from Holdings
Third Avenue Value Fund (Trade, Portfolio) sold two positions outright in the first quarter of 2024.
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The fund sold all 989,199 shares of Ashmore Group PLC (LSE:ASHM), impacting the portfolio by -0.38%.
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All 1,484,127 shares of Hutchison Port Holdings Trust (HCTPF) were liquidated, impacting the portfolio by -0.04%.
Significant reduction in assets held
Four stocks saw price cuts, with the following notable changes:
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Warrior Met Coal Co. (NYSE:HCC) decreased by -40.16% by 446,495 shares, impacting the portfolio by -4.08%. The average trading price for the quarter was $58.27, with a return of -7.09% over the past three months and -6.42% year-to-date.
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Tidewater Inc. (NYSE:TDW) decreased by 106,287 shares, decreasing by -19.21% and impacting the portfolio by -1.36%. The average price for the quarter was $64.87, with a return of 26.02% over the past three months and 24.60% year-to-date.
Portfolio overview and sector allocation
As of Q1 2024, the Third Avenue Value Fund (Trade, Portfolio) portfolio consists of 29 stocks. Top holdings include Warrior Met Coal Corp. (NYSE:HCC) with 6.89%, Capstone Copper Corp. (TSX:CS) with 6.01%, EasyJet PLC (LSE:EZJ) with 5.17%, and Bayern Co., Ltd. with 6.89%. Includes 4.96% of Motoren Werke AG (XTER:). BMW) and Tidewater (NYSE:TDW) at 4.85%.
The fund’s investments are primarily concentrated in eight industries out of a total of 11 sectors: Basic Materials, Financial Services, Energy, Industrials, Consumer Cycles, Technology, Communication Services, and Consumer Defense.
This article created by GuruFocus is intended to provide general insight and is not intended as financial advice. Our commentary is based on historical data and analyst forecasts using an unbiased methodology and is not intended to serve as specific investment guidance. It does not constitute a recommendation to buy or sell stocks, and does not take into account your individual investment objectives or financial situation. Our objective is to provide fundamental data-driven analysis over time. Please note that our analysis may not incorporate the latest announcements or qualitative information from price-sensitive companies. GuruFocus has no position in the stocks mentioned herein.
This article first appeared on GuruFocus.
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