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TAM

Third Avenue Management Portfolio holdings

AUM $616M
1-Year Est. Return 45.6%
This Fund
S&P 500
This Quarter Est. Return
+3.83%
1 Year Est. Return
+45.6%
3 Year Est. Return
+111.18%
5 Year Est. Return
+162.64%
10 Year Est. Return
+374.2%
AUM
$2.25B
AUM Growth
-$350M
Cap. Flow
-$418M
Cap. Flow %
-18.6%
Top 10 Hldgs %
46.17%
Holding
122
New
8
Increased
10
Reduced
59
Closed
8

Top Buys

Rank Stock Value
1
JCI icon
Johnson Controls International
JCI
+$25.4M
2
AMGN icon
Amgen
AMGN
+$21.1M
3
LIVN icon
LivaNova
LIVN
+$13.5M
4
HAR
Harman International Industries
HAR
+$9.48M
5
SHPG
Shire pic
SHPG
+$8.64M

Top Sells

Rank Stock Value
1
EQC
Equity Commonwealth
EQC
+$51.6M
2
SKT icon
Tanger
SKT
+$49.2M
3
PPS
Post Properties
PPS
+$47.7M
4
FR icon
First Industrial Realty Trust
FR
+$32.7M
5
GEN icon
Gen Digital
GEN
+$27.8M

Sector Composition

Rank Sector Weight
1 Real Estate 31.28%
2 Financials 27.23%
3 Consumer Discretionary 11.52%
4 Industrials 11.37%
5 Healthcare 4.49%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
APA icon
26
APA Corp
APA
$12.8B
$29.2M 1.3%
524,055
-482,377
-48% -$26.2M
HAR
27
DELISTED
Harman International Industries
HAR
$28.8M 1.28%
400,716
+121,474
+44% +$9.48M
FNF icon
28
Fidelity National Financial
FNF
$13.5B
$28.1M 1.25%
1,077,851
-60,209
-5% -$1.42M
JCI icon
29
Johnson Controls International
JCI
$86.9B
$26.8M 1.19%
+577,257
New +$25.4M
KW
30
DELISTED
Kennedy-Wilson Holdings
KW
$26.1M 1.16%
1,378,512
-62,900
-4% -$1.3M
RL icon
31
Ralph Lauren
RL
$23B
$24.6M 1.09%
274,832
+45,968
+20% +$4.27M
AMGN icon
32
Amgen
AMGN
$198B
$20.6M 0.92%
+135,642
New +$21.1M
GM icon
33
General Motors
GM
$74.1B
$19M 0.85%
671,819
-15,529
-2% -$471K
KEY icon
34
KeyCorp
KEY
$24.9B
$16M 0.71%
1,444,346
-52,864
-4% -$630K
LIVN icon
35
LivaNova
LIVN
$4.3B
$13.5M 0.6%
+267,977
New +$13.5M
WCIC
36
DELISTED
WCI Communities, Inc.
WCIC
$8.88M 0.39%
525,154
+85,823
+20% +$1.47M
SHPG
37
DELISTED
Shire pic
SHPG
$8.81M 0.39%
+47,840
New +$8.64M
VC icon
38
Visteon
VC
$2.75B
$8.51M 0.38%
129,268
– –
CBSH icon
39
Commerce Bancshares
CBSH
$8.45B
$8.48M 0.38%
288,539
-18,732
-6% -$540K
LABL
40
DELISTED
Multi-Color Corp
LABL
$8.21M 0.37%
129,533
– –
FCN icon
41
FTI Consulting
FCN
$4.72B
$7.88M 0.35%
193,597
-42,389
-18% -$1.68M
ICFI icon
42
ICF International
ICFI
$1.39B
$7.82M 0.35%
191,129
– –
ARCO icon
43
Arcos Dorados Holdings
ARCO
$1.78B
$7.71M 0.34%
1,660,542
-1,746
-0.1% -$7.41K
UMBF icon
44
UMB Financial
UMBF
$10.7B
$7.55M 0.34%
141,973
-8,300
-6% -$451K
CUB
45
DELISTED
Cubic Corporation
CUB
$6.92M 0.31%
172,224
+14,897
+9% +$605K
SBSI icon
46
Southside Bancshares
SBSI
$1.02B
$6.88M 0.31%
228,078
-1
-0% -$27
ALG icon
47
Alamo Group
ALG
$1.99B
$6.79M 0.3%
102,902
-21,500
-17% -$1.26M
UONEK icon
48
Urban One Class D
UONEK
$20.4M
$6.79M 0.3%
212,779
– –
VLY icon
49
Valley National Bancorp
VLY
$8.05B
$6.63M 0.29%
726,953
– –
WOOF
50
DELISTED
VCA Inc.
WOOF
$6.32M 0.28%
93,539
-39,051
-29% -$2.48M
1
2
3 4 5

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Third Avenue Management's Q2 2016 Portfolio in Review

As of Q2 2016, Third Avenue Management held 122 positions worth $2.25B, down 13% from $2.6B the previous quarter. Its ten largest holdings account for 46% of the portfolio.

Third Avenue Management withdrew a net $418M in Q2 2016, closing 8 positions and reducing 59 holdings. Its most notable exit was Equity Commonwealth, an estimated $51.6M position sold in full.

By sector, the portfolio is most concentrated in Real Estate at 31% of assets, down from 36% a quarter earlier, followed by Financials and Consumer Discretionary.

Against the trend, Third Avenue Management opened a new position in Johnson Controls International worth $26.8M.

  • Third Avenue Management's largest Q2 2016 buy was Johnson Controls International: 577,257 shares worth $26.8M.
  • Third Avenue Management added most to Harman International Industries in Q2 2016, an estimated $9.48M increase.
  • Third Avenue Management's biggest Q2 2016 reduction was Tanger, cutting an estimated $49.2M.
  • Third Avenue Management fully exited Equity Commonwealth in Q2 2016, selling an estimated $51.6M.
  • Third Avenue Management's ten largest holdings make up 46% of its $2.25B portfolio in Q2 2016.
  • Third Avenue Management opened 8 new positions and closed 8 in Q2 2016.
  • Third Avenue Management's portfolio value fell 13% quarter-over-quarter to $2.25B.

Based on Third Avenue Management's 13F filing for Q2 2016, filed 11 Aug 2016.