Weyerhaeuser Co. (WY), The Bank of New York Mellon Corporation (BK), POSCO (ADR) (PKX) Among Third Avenue Management’s Q2 Top Picks

In its latest 13F filing with the U.S. Securities and Exchange Commission, Third Avenue Management, led by Martin Whitman, disclosed its equity portfolio held as of the end of the second quarter of 2014. The market value of the portfolio totaled $5.2 million. Let’s discuss top three holdings from the fund’s portfolio for the second quarter.

Weyerhaeuser Company

Third Avenue Management’s top holdings for the second quarter include Weyerhaeuser Co. (NYSE:WY), The Bank of New York Mellon Corporation (NYSE:BK), and POSCO (ADR) (NYSE:PKX). Over the quarter, the fund upped its stake in Weyerhaeuser Co. (NYSE:WY), while it reduced its positions in other two.

The top holding is Weyerhaeuser Co. (NYSE:WY), in which the fund disclosed ownership of 9.37 million shares, representing more than a 40% increase from 6.54 million shares held previously. The reported market value of the current holding is $310.2 million. Weyerhaeuser Co. (NYSE:WY) is engaged in operating forest products business, and has a market cap of $17.4 billion. Other significant shareholders of Weyerhaeuser Co. (NYSE:WY) include First Eagle Investment Management, run by Jean-Marie Eveillard, and Robert Henry Lynch’s Aristeia Capital, holding 14.45 million shares and 9.38 million shares, respectively.

In The Bank of New York Mellon Corporation (NYSE:BK), Third Avenue Management reported a $188.5 million stake, which contains 5.03 million shares. The position shows a 6% decrease from 5.30 million shares the fund held previously. For the second quarter of 2014, the company reported net income applicable to common shareholders of $554 million, or $0.48 per diluted common share, compared to net income applicable to common shareholders of $831 million, or $0.71 per diluted common share.

Other hedge funds holding big stakes in The Bank of New York Mellon Corporation (NYSE:BK) include Mason Hawkins’ Southeastern Asset Management, which owns 34.55 million shares, and First Eagle Investment Management, led by Jean-Marie Eveillard with 27.2 million shares of the company.

On the third position is POSCO (ADR) (NYSE:PKX), in which Third Avenue Management revealed holding 2.32 million shares, worth $172.8 million. Previously, the fund reported owning 2.57 million shares of the company. Korea-based POSCO (ADR) (NYSE:PKX) manufactures steel products, and has a market cap of $28.3 billion.

Aside from Third Avenue Management, Mohnish Pabrai holds 977,634 shares of POSCO (ADR) (NYSE:PKX) and Indus Capital, led by David Kowitz and Sheldon Kasowitz, owns 82,600 shares.

Disclosure: none

Biotech Insider Alert - $6 Stock To Hit $40

$200 Million Dollar Healthcare Hedge Fund's #1 Best Idea Right Now

The best healthcare hedge fund out there right now is one of the largest shareholders in this biotech stock. The fund returned more than 20% in each of the last 2 years with a virtually fully hedged portfolio, and it's sending out a BUY signal on this biotech stock. Get your FREE REPORT today (retail value of $300)

This is a FREE report from Insider Monkey. Credit Card is NOT required.
Comments
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months. Our beta is only 1.2 (don't click this link if beating the market isn't important to you).

Lists

The Most Wanted Drug Lords

The Oldest Money Managers

The Greatest Directors in the World

Largest Animals in the World

World’s Most Expensive Desserts

Best Selling Comic Books of All Time

A-list Actors who Sabotaged Their Career

Rappers With a College Degree

The Best Jazz Albums of all Time

The Most Influential Jazz Musicians

The World’s Most Famous Photographers

The Best Oscar-Winning Songs

Most Influential Choreographers Ever

Most Expensive Department Stores in the World

The Most Expensive Stolen Paintings in the World

The World’s Most Expensive Teas

Top Oscar Record Holders

The Most Expensive Flowers in the World

Countries With a Booming Film Industry

Most Expensive Cupcakes in the World

Uncommon European Escapes

The Most Stolen Artists in History

Best Travel Destinations in Australia

World’s Most Expensive Musical Instruments

World’s Most Famous Animals

Most Expensive Cakes in the World

Most Expensive Kosher Champagne in the World

Most Expensive Kosher Wine in the World

The Most Surprisingly Dark Fairy Tales

Most Popular Travel Destinations in Asia

The 10 Most Expensive Dresses Ever Worn to the Oscars

World’s Most Visited Art Museums

Best Countries for Photographers to Work in

Best Paid Jobs in the Film Industry

The Most Renowned Recovered Paintings Ever

Child Stars That Turned out Just Fine

Books That Were Banned in the Past Century

World’s Richest Dancers

Best Remedies against Bad Breath

Foods That Improve Your Skin Texture

Best-Selling Children’s Books of all Time

Foods That Boost Your Libido

Best-Selling Books of all Time

The Most Expensive Academy Awards Jewelry in History

Most Expensive Japanese Restaurant In New York City

The Best B-Boy Movies

Most Awesome Hip Hop Documentaries

Foods That Stain Your Teeth

Richest Doctors in the World

The Best Movie Sountracks Ever

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 129% in 2.5 years!! Wondering How?

Download a complete edition of our newsletter for free!