Date updated:12-06-2007
From the Third Avenue website.
"Third Avenue International Value Fund seeks long-term capital appreciation by investing in the equity securities of well-financed, well-managed foreign companies believed to be priced below their intrinsic values."
The $2.4 billion dollar fund run by Amit Wadhwaney was showcased in the February 12, 2007 Barron's.
"He's been with Third Avenue Funds since 1999 (this is his second stint there), and has steered Third Avenue International Value since its December 2001 inception. Through Jan. 31, the fund had risen 21.15% a year, on average. In 2006, Wadhwaney, now 53 years old, was a top contender for fund-rater Morningstar's International Stock Manager of the Year.
Like other Third Avenue investors, Wadhwaney seeks "safe" and "understandable" companies selling at significant discounts to intrinsic value, with rich assets, strong finances and good management.
A quick look at the accompanying table shows that his biggest holdings are unusual among international funds that are choc-abloc with multinational brands."
The fund received 3 stars from Morningstar.
Current Returns:
1-Year: 9.65%
3-Year: 18.20%
5-Year: 21.39%

-
CTL.TO
Catalyst Paper Co - $0.225
- 0.00%
- $0.23
Wadhwaney's largest holding is Vancouver- based Catalyst Paper (CTL.Canada), which has five mills in British Columbia and hasn't been profitable since 2001. Catalyst makes paper for phonebooks, among other things, and has been cutting costs. In early 2006, the fund manager began building his position at around three Canadian dollars a share (C$1 equals about 84 U.S. cents). "I've avoided this industry. It's a miserable industry that's terribly capital intensive. However, sometimes things get too cheap!" It's been a dramatic relationship, to say the least. When Third Avenue attempted to raise its stake, management introduced a poison pill. Then Wadhwaney led a charge to get four Third Avenue nominees on Catalyst's board. He succeeded. In January, the company's CEO resigned, sending the stock spiraling lower. Investors speculated that Third Avenue, which now owns 38% of the stock, was preparing to sell the company. Third Avenue is in Catalyst for the long term, he maintains. "I haven't thought of an exit strategy. We'd like to build the business." Today, the stock trades close to C$4, but is still 20% to 30% below replacement cost, or the cost of building its facilities from scratch, he says.
People owning CTL.TO also tend to own: AKVER.OLB16.SICFP.TOSWP.TO
TheStreet.com Rating: No Rating What is this?

-
B16.SI
Guocoleisure - $0.63
- +0.80%
- $0.635
BIL International (BRY.Singapore), the fund's second-largest holding, is the former Brierley Investments, a holding company for hotels, gaming, property development and oil and gas. Guoco Group (0053.Hong Kong) owns 51% of BIL International and also provides asset management and other financial services across Asia.

-
SWP.TO
Swp.to - $0.00
- N/A
- $N/A
Saskatchewan Wheat Pool (SWP.Canada) is the largest publicly traded agribusiness cooperative north of the U.S. 2.9% of portfolio

-
CFP.TO
Canfor Corporatio - $7.81
- 0.00%
- $7.85
Third Avenue also owns a fifth of Canada's Canfor.
- No Blogs Found
- Top Professional Portfolios
- 1. Fidelity Contrafund - ...
- 2. Bernard L. Madoff Inve...
- 3. Argus Management
- 4. Calamos Advisors
- 5. Charlie Munger
- show all
- Top Do-It-Yourself Portfolios
- » jgroov Portfolio 1
- » ben johnson
- » my holdings
- » SC TRADE OF THE DAY
- » kudos
- show all
- Most Viewed Portfolios
- » Warren Buffett
- » George Soros
- » T. Boone Pickens - BP Cap...
- » Carl Icahn
- » Renaissance Technologies
- show all
By Jonas Elmerraji Posted on Feb. 9, 2010 With stocks continuing to underwhelm in yesterday’s trading session, the attention is turning toward trading. After all, tec...
By Roberto Pedone Posted on Feb. 8, 2010 Good Buys For Bad Times: This Barron’s article says with the U.S. economy expected to grow by only 3% in 2010, investors shou...
Posted on Feb. 8, 2010 Finance Professor Scott Rothbort will be answering questions on Stockpickr Answers on Monday, Feb. 8. Ask away! Regardless of why a stock is in...
By Jonas Elmerraji Posted on Feb. 8, 2010 Finance Professor Scott Rothbort will be answering questions on Stockpickr Answers on Monday, Feb. 8. Ask away! Investor an...
A. The only one I own : SLX,
too hard pick a winner out all of them
TheStreet Ratings provides exclusive stock, ETF and mutual fund ratings and commentary based on award-winning, proprietary tools. Its "safety first&quo... more
Here is a list of some of the biggest stocks that hit 52-week lows on Feb. 9, 2010. more
Here is a list of some of the companies that will report earnings on Wednesday, Feb. 10, 2010. For some of the companies below, we provide average EPS estimates from analy... more











Comments not available