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TAM

Third Avenue Management Portfolio holdings

AUM $625M
1-Year Est. Return 48.93%
This Fund
S&P 500
This Quarter Est. Return
-2.19%
1 Year Est. Return
+48.93%
3 Year Est. Return
+112.7%
5 Year Est. Return
+169.82%
10 Year Est. Return
+390.58%
AUM
$3.97B
AUM Growth
-$15M
Cap. Flow
+$92.3M
Cap. Flow %
2.32%
Top 10 Hldgs %
39.43%
Holding
141
New
8
Increased
30
Reduced
37
Closed
12

Top Buys

Rank Stock Value
1
MAC icon
Macerich
MAC
+$88.1M
2
RYN icon
Rayonier
RYN
+$46.4M
3
MAS icon
Masco
MAS
+$46.3M
4
VNO icon
Vornado Realty Trust
VNO
+$35.3M
5
WY icon
Weyerhaeuser
WY
+$29.1M

Top Sells

Rank Stock Value
1
SFR
Starwood Waypoint Homes
SFR
+$68.3M
2
VMI icon
Valmont Industries
VMI
+$23M
3
KEY icon
KeyCorp
KEY
+$18.2M
4
BNY
Bank of New York Mellon
BNY
+$13.7M
5
DVN icon
Devon Energy
DVN
+$13.2M

Sector Composition

Rank Sector Weight
1 Real Estate 33.57%
2 Financials 23.73%
3 Consumer Discretionary 8.7%
4 Industrials 8.42%
5 Energy 5.13%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
GM icon
26
General Motors
GM
$75.7B
$64.3M 1.62%
1,929,784
+68,539
+4% +$2.44M
TRC icon
27
Tejon Ranch
TRC
$438M
$59.7M 1.5%
2,392,487
– –
PNC icon
28
PNC Financial Services
PNC
$96.6B
$57.2M 1.44%
597,620
+38,351
+7% +$3.63M
PNC.WS
29
DELISTED
PNC Financial Services Group Inc
PNC.WS
$57M 1.43%
1,982,554
-200
-0% -$5.51K
Y
30
DELISTED
Alleghany Corp
Y
$52.5M 1.32%
112,074
-12,269
-10% -$5.9M
NVDA icon
31
NVIDIA
NVDA
$5.25T
$51.8M 1.3%
103,042,320
-2,845,240
-3% -$1.54M
L icon
32
Loews
L
$22.4B
$48.1M 1.21%
1,250,287
-23,158
-2% -$942K
MAS icon
33
Masco
MAS
$14.4B
$45.8M 1.15%
+1,955,858
New +$46.3M
JEF icon
34
Jefferies Financial Group
JEF
$12.2B
$40.1M 1.01%
1,847,045
-554,623
-23% -$11.8M
KEY icon
35
KeyCorp
KEY
$23.4B
$38.8M 0.98%
2,579,886
-1,233,438
-32% -$18.2M
H icon
36
Hyatt Hotels
H
$16.2B
$27M 0.68%
476,281
+300
+0.1% +$17.4K
WFC.WS
37
DELISTED
Wells Fargo & Company Ws
WFC.WS
$26.7M 0.67%
1,187,303
– –
HYT icon
38
BlackRock Corporate High Yield Fund
HYT
$1.35B
$21.5M 0.54%
1,996,274
+37,903
+2% +$425K
AXE
39
DELISTED
Anixter International Inc
AXE
$16.7M 0.42%
256,504
+160,767
+168% +$11.4M
HCC
40
DELISTED
HCC INSURANCES HOLDINGS INC
HCC
$16.4M 0.41%
213,395
– –
FSD
41
DELISTED
FIRST TRUST HIGH INCOME LONG/SHORT FUND
FSD
$13M 0.33%
829,943
+16,115
+2% +$262K
WCIC
42
DELISTED
WCI Communities, Inc.
WCIC
$12M 0.3%
491,049
– –
FCN icon
43
FTI Consulting
FCN
$4.25B
$11.9M 0.3%
287,435
– –
BTZ icon
44
BlackRock Credit Allocation Income Trust
BTZ
$946M
$10.6M 0.27%
837,053
+15,469
+2% +$205K
TTEK icon
45
Tetra Tech
TTEK
$9.36B
$10.5M 0.26%
2,043,765
– –
B
46
DELISTED
Barnes Group Inc.
B
$10.3M 0.26%
262,885
-1,500
-0.6% -$60.5K
CSGS
47
DELISTED
CSG Systems International
CSGS
$10.1M 0.25%
319,229
– –
PB icon
48
Prosperity Bancshares
PB
$8.69B
$9.82M 0.25%
170,057
– –
WKC icon
49
World Kinect Corp
WKC
$1.81B
$9.77M 0.25%
203,710
+12,257
+6% +$641K
CFR icon
50
Cullen/Frost Bankers
CFR
$10B
$9.77M 0.25%
124,271
– –
1
2
3 4 5

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Third Avenue Management's Q2 2015 Portfolio in Review

As of Q2 2015, Third Avenue Management held 141 positions worth $3.97B, down 0.38% from $3.99B the previous quarter. Its ten largest holdings account for 39% of the portfolio.

Third Avenue Management's Q2 2015 filing shows 8 new, 30 increased, 37 reduced and 12 closed positions. Its largest new stake was Masco: 1,955,858 shares worth $45.8M. The largest sale was Starwood Waypoint Homes, an estimated $68.3M.

By sector, the portfolio is most concentrated in Real Estate at 34% of assets, up from 32% a quarter earlier, followed by Financials and Consumer Discretionary.

  • Third Avenue Management's largest Q2 2015 buy was Masco: 1,955,858 shares worth $45.8M.
  • Third Avenue Management added most to Macerich in Q2 2015, an estimated $88.1M increase.
  • Third Avenue Management's biggest Q2 2015 reduction was Valmont Industries, cutting an estimated $23M.
  • Third Avenue Management fully exited Starwood Waypoint Homes in Q2 2015, selling an estimated $68.3M.
  • Third Avenue Management's ten largest holdings make up 39% of its $3.97B portfolio in Q2 2015.
  • Third Avenue Management opened 8 new positions and closed 12 in Q2 2015.
  • Third Avenue Management's portfolio value fell 0.38% quarter-over-quarter to $3.97B.

Based on Third Avenue Management's 13F filing for Q2 2015, filed 14 Aug 2015.