In this article, we will be taking a look at the top 5 stock picks of Martin Whitman’s Third Avenue Management. To read our detailed analysis, you can go directly to see the Top 10 Stock Picks of Martin Whitman’s Third Avenue Management.
5. Brookfield Asset Management Inc. (NYSE:BAM)
Third Avenue Management’s Stake Value: $38.569 million
Number of Hedge Fund Holders: 35
Brookfield Asset Management Inc. (NYSE:BAM) is one of the biggest alternative investment management companies in the world, and has more than $725 billion of assets under management (AUM) operated by more than 150,000 employees globally. The stock price of Brookfield Asset Management Inc. (NYSE:BAM) has nose dived over the past several months, and recently reached a new 52 week low, even as Brookfield Asset Management Inc. (NYSE:BAM) expands into Europe and is being touted as having double digit growth potential.
Saltlight Capital published its Q1 2022 investor letter and mentioned Brookfield Asset Management Inc. (NYSE:BAM). Here is what the fund said:
“During times like this, it is always helpful to remember what your portfolio is built with. One company that we’ve alluded to in the past is Brookfield Asset Management (NYSE:BAM). We’ve been invested in BAM across our various funds since 2019 and could not describe a more ‘resilient, indispensable and durable’ portfolio company. BAM is one of the largest alternative asset managers in the world, but it has some nuances that make it screen poorly (we’ll get into that). It started life as an industrial conglomerate called Brascan in Canada and so in line with general Canadian culture is understated and stays out of the limelight.
Bruce Flatt has been the CEO for over two decades and is the type of manager that we seek to partner with: honest, trustworthy, and extremely capable. We highly recommend watching these two videos: a Google talk in 2018 and this David Rubenstein interview to get a sense of Flatt. Importantly, BAM is not just about Flatt and his singular investing skills as many asset managers are. This is a widely scaled business. We’ve been impressed with the caliber of up-and-coming executives operating the individual businesses which give us confidence that the BAM culture will be retained for many decades to come…” (Click here to see the full text)