Third Avenue Management’s Are Dynamic Credit Allocation Fund ARDC Stock Holding History

Third Avenue Management’s Portfolio ARDC Stock Details ARDC Fund Activity

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Change in Stake	Trade Value	Portfolio Weight	Portfolio Position
2015 Q4	–	Sell	-253,978	Closed	-$3.55M	–	111
2015 Q3	$3.55M	Sell	253,978 -53,688	-17%	-$796K	0.1%	99
2015 Q2	$4.72M	Buy	307,666 +6,535	+2%	+$105K	0.12%	94
2015 Q1	$4.89M	Buy	301,131 +4,260	+1%	+$69.2K	0.12%	97
2014 Q4	$4.7M	Sell	296,871 -45,125	-13%	-$746K	0.12%	100
2014 Q3	$5.83M	Buy	341,996 +6,639	+2%	+$117K	0.12%	112
2014 Q2	$6.11M	Buy	335,357 +6,354	+2%	+$116K	0.12%	117
2014 Q1	$5.96M	Buy	329,003 +6,128	+2%	+$112K	0.12%	118
2013 Q4	$5.8M	Buy	+322,875	New	+$5.81M	0.11%	113

Other funds holding ARDC

UBS Group Zurich, Switzerland $666B AUM 30.12% 1-Year Est. Return

RCM

Rivernorth Capital Management West Palm Beach, Florida $2B AUM 0.66% 1-Year Est. Return

BlueSpruce Investments Chicago, Illinois $631M AUM 11.83% 1-Year Est. Return

Bessemer Group Woodbridge, New Jersey $63.6B AUM 28.76% 1-Year Est. Return

Morgan Stanley New York $1.66T AUM 25.57% 1-Year Est. Return

MIG

Mariner Investment Group Harrison, New York $346M AUM 25.25% 1-Year Est. Return

PPA

Parametric Portfolio Associates Seattle, Washington $190B AUM 18.52% 1-Year Est. Return

YMRC

Yorktown Management & Research Company Forest, Virginia $163M AUM 68.53% 1-Year Est. Return

Cohen & Steers New York $57.6B AUM 8.03% 1-Year Est. Return

RJA

Raymond James & Associates St Petersburg, Florida $164B AUM 33.91% 1-Year Est. Return

Third Avenue Management's ARDC Position: Q4 2015 in Review

Third Avenue Management sold out of Are Dynamic Credit Allocation Fund (ARDC) in Q4 2015, closing a stake of 253,978 shares — an estimated $3.55M sold.

Third Avenue Management first reported a position in ARDC in Q4 2013 and held it in 8 quarters. The position peaked at $6.11M in Q2 2014. 47 funds tracked by Wall St. Rank hold ARDC as of Q4 2015.

Third Avenue Management reported no remaining Are Dynamic Credit Allocation Fund position as of Q4 2015 after selling out during the quarter.
Third Avenue Management sold 253,978 Are Dynamic Credit Allocation Fund shares in Q4 2015, an estimated $3.55M.
Third Avenue Management first reported a position in Are Dynamic Credit Allocation Fund in Q4 2013 and held it in 8 quarters.
Third Avenue Management's Are Dynamic Credit Allocation Fund position peaked at $6.11M in Q2 2014.
47 funds tracked by Wall St. Rank held Are Dynamic Credit Allocation Fund as of Q4 2015.

Based on Third Avenue Management's 13F filing for Q4 2015, filed 12 Feb 2016.