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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
+8.2%
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
$2.21B
AUM Growth
+$24.2M
(+1.1%)
Cap. Flow
-$103M
Cap. Flow
% of AUM
-4.67%
Top 10 Holdings %
Top 10 Hldgs %
45.23%
Holding
118
New
8
Increased
13
Reduced
85
Closed
4
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Lennar Class A
LEN
|
+$83.6M |
| 2 |
TPHS
Trinity Place Holdings Inc.com
TPHS
|
+$40.6M |
| 3 |
CERN
Cerner Corp
CERN
|
+$21.7M |
| 4 |
PKY
Parkway, Inc.
PKY
|
+$19.8M |
| 5 |
Amgen
AMGN
|
+$11.4M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Zions Bancorporation
ZION
|
+$47.5M |
| 2 |
PNC.WS
PNC Financial Services Group Inc
PNC.WS
|
+$42.3M |
| 3 |
Macerich
MAC
|
+$36.4M |
| 4 |
CMA
Comerica
CMA
|
+$29.7M |
| 5 |
AXE
Anixter International Inc
AXE
|
+$25.7M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Real Estate | 27.18% |
| 2 | Financials | 27.14% |
| 3 | Consumer Discretionary | 14.04% |
| 4 | Industrials | 11.54% |
| 5 | Healthcare | 5.73% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
26
Zions Bancorporation
ZION
$9.89B
| $26.1M | 1.18% |
607,058
-1,289,300
| -68% | -$47.5M |
|
|
KW
27
DELISTED
Kennedy-Wilson Holdings
KW
| $25.5M | 1.16% |
1,245,153
-44,959
| -3% | -$960K |
|
28
Brookdale Senior Living
BKD
$2.8B
| $25.1M | 1.14% |
2,023,941
-380,906
| -16% | -$5.11M |
|
29
Ralph Lauren
RL
$21.1B
| $24.4M | 1.11% |
270,116
-1,797
| -0.7% | -$183K |
|
|
PKY
30
DELISTED
Parkway, Inc.
PKY
| $23.2M | 1.05% |
+1,044,662
| New | +$19.8M |
|
31
LivaNova
LIVN
$4.43B
| $23.2M | 1.05% |
515,777
+181,929
| +54% | +$8.94M |
|
32
Fidelity National Financial
FNF
$12.8B
| $22.6M | 1.02% |
957,146
-40,187
| -4% | -$964K |
|
33
AGCO
AGCO
$7.94B
| $21.7M | 0.98% |
374,671
-176,433
| -32% | -$9.53M |
|
|
CERN
34
DELISTED
Cerner Corp
CERN
| $19.4M | 0.88% |
+408,707
| New | +$21.7M |
|
|
35
Macerich
MAC
$6.73B
| $18.9M | 0.86% |
267,301
-508,900
| -66% | -$36.4M |
|
36
KeyCorp
KEY
$23.4B
| $18M | 0.82% |
986,968
-434,820
| -31% | -$6.86M |
|
37
APA Corp
APA
$14.9B
| $16.3M | 0.74% |
257,260
-148,019
| -37% | -$9.32M |
|
|
SHPG
38
DELISTED
Shire pic
SHPG
| $11.6M | 0.52% |
67,805
-419
| -0.6% | -$74.3K |
|
39
Commerce Bancshares
CBSH
$8.32B
| $10.7M | 0.49% |
287,470
-1,069
| -0.4% | -$36.1K |
|
|
WCIC
40
DELISTED
WCI Communities, Inc.
WCIC
| $10.2M | 0.46% |
432,988
-96,009
| -18% | -$2.24M |
|
41
UMB Financial
UMBF
$11B
| $9.86M | 0.45% |
127,791
-14,182
| -10% | -$986K |
|
42
Visteon
VC
$2.72B
| $8.85M | 0.4% |
110,112
-19,156
| -15% | -$1.44M |
|
43
Insight Enterprises
NSIT
$4.57B
| $8.53M | 0.39% |
210,950
-9,654
| -4% | -$332K |
|
44
NETSCOUT
NTCT
$2.84B
| $8.49M | 0.38% |
269,400
-881
| -0.3% | -$27K |
|
45
Southside Bancshares
SBSI
$950M
| $8.35M | 0.38% |
227,220
-1,007
| -0.4% | -$34.8K |
|
|
CUB
46
DELISTED
Cubic Corporation
CUB
| $8.22M | 0.37% |
171,518
-706
| -0.4% | -$32.4K |
|
|
LABL
47
DELISTED
Multi-Color Corp
LABL
| $7.86M | 0.36% |
101,346
-10,374
| -9% | -$734K |
|
48
ICF International
ICFI
$1.62B
| $7.47M | 0.34% |
135,422
-33,307
| -20% | -$1.69M |
|
49
Prosperity Bancshares
PB
$8.69B
| $7.32M | 0.33% |
101,963
-399
| -0.4% | -$24.9K |
|
50
Cullen/Frost Bankers
CFR
$10B
| $7.24M | 0.33% |
82,000
-323
| -0.4% | -$25.9K |
|
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Third Avenue Management's Q4 2016 Portfolio in Review
As of Q4 2016, Third Avenue Management held 118 positions worth $2.21B, up 1.1% from $2.18B the previous quarter. Its ten largest holdings account for 45% of the portfolio.
Third Avenue Management withdrew a net $103M in Q4 2016, closing 4 positions and reducing 85 holdings. Its most notable exit was Ingram Micro, an estimated $3.95M position sold in full.
By sector, the portfolio is most concentrated in Real Estate at 27% of assets, down from 29% a quarter earlier, followed by Financials and Consumer Discretionary.
Against the trend, Third Avenue Management opened a new position in Cerner Corp worth $19.4M.
- Third Avenue Management's largest Q4 2016 buy was Cerner Corp: 408,707 shares worth $19.4M.
- Third Avenue Management added most to Lennar Class A in Q4 2016, an estimated $83.6M increase.
- Third Avenue Management's biggest Q4 2016 reduction was Zions Bancorporation, cutting an estimated $47.5M.
- Third Avenue Management fully exited Ingram Micro in Q4 2016, selling an estimated $3.95M.
- Third Avenue Management's ten largest holdings make up 45% of its $2.21B portfolio in Q4 2016.
- Third Avenue Management opened 8 new positions and closed 4 in Q4 2016.
- Third Avenue Management's portfolio value rose 1.1% quarter-over-quarter to $2.21B.
Based on Third Avenue Management's 13F filing for Q4 2016, filed 13 Feb 2017.