Third Avenue Management’s Tejon Ranch TRC Stock Holding History

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Change in Stake	Trade Value	Portfolio Weight	Portfolio Position
2019 Q4	–	Sell	-686,108	Closed	-$11.6M	–	59
2019 Q3	$11.6M	Sell	686,108 -298,968	-30%	-$5.21M	1.05%	25
2019 Q2	$16.3M	Hold	985,076	–	–	1.37%	22
2019 Q1	$18.1M	Sell	985,076 -133,427	-12%	-$2.46M	1.4%	21
2018 Q4	$18.5M	Sell	1,118,503 -160,188	-13%	-$2.98M	1.5%	20
2018 Q3	$27.8M	Sell	1,278,691 -568,463	-31%	-$13M	1.57%	21
2018 Q2	$44.9M	Sell	1,847,154 -802,528	-30%	-$19.9M	2.23%	17
2018 Q1	$61.2M	Sell	2,649,682 -4,300	-0.2%	-$95.1K	3.12%	9
2017 Q4	$55.1M	Buy	2,653,982 +375,979	+17%	+$7.75M	2.65%	9
2017 Q3	$46.7M	Hold	2,278,003	–	–	2.1%	13
2017 Q2	$45.6M	Buy	2,278,003 +48,925	+2%	+$1.03M	2.03%	13
2017 Q1	$47.4M	Hold	2,229,078	–	–	2.16%	15
2016 Q4	$55M	Sell	2,229,078 -87,870	-4%	-$2.13M	2.49%	11
2016 Q3	$54.7M	Hold	2,316,948	–	–	2.51%	14
2016 Q2	$53.2M	Hold	2,316,948	–	–	2.36%	11
2016 Q1	$46.3M	Sell	2,316,948 -14,632	-0.6%	-$269K	1.78%	23
2015 Q4	$43.4M	Sell	2,331,580 -29,779	-1%	-$624K	1.4%	27
2015 Q3	$50M	Sell	2,361,359 -31,128	-1%	-$731K	1.36%	28
2015 Q2	$59.7M	Hold	2,392,487	–	–	1.5%	27
2015 Q1	$61.4M	Sell	2,392,487 -5,413	-0.2%	-$135K	1.54%	27
2014 Q4	$68.6M	Buy	2,397,900 +24,406	+1%	+$688K	1.73%	28
2014 Q3	$64.6M	Sell	2,373,494 -66,767	-3%	-$1.88M	1.36%	23
2014 Q2	$76.3M	Hold	2,440,261	–	–	1.47%	20
2014 Q1	$80.2M	Hold	2,440,261	–	–	1.55%	20
2013 Q4	$87.1M	Sell	2,440,261 -42,972	-2%	-$1.43M	1.6%	15
2013 Q3	$74.4M	Sell	2,483,233 -198,937	-7%	-$6.04M	1.44%	18
2013 Q2	$72M	Buy	+2,682,170	New	+$73.7M	1.41%	18

Other funds holding TRC