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TAM

Third Avenue Management Portfolio holdings

AUM $625M Turnover 10.53%
1-Year Est. Return 48.93%
This Fund
S&P 500
This Quarter Est. Return
+0.3%
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
$2.6B
AUM Growth
-$489M
Cap. Flow
-$457M
Cap. Flow %
-17.57%
Top 10 Hldgs %
43.68%
Holding
120
New
12
Increased
21
Reduced
64
Closed
6
Avg Time Held
1.8 years
Top 10 Avg Time Held
1.7 years
Top 20 Avg Time Held
1.6 years

Top Buys

Rank Stock Value
1
LEN icon
Lennar Class A
LEN
+$48.4M
2
FNF icon
Fidelity National Financial
FNF
+$25.5M
3
HHH icon
Howard Hughes
HHH
+$22.7M
4
RL icon
Ralph Lauren
RL
+$22.4M
5
HAR
Harman International Industries
HAR
+$22.2M

Top Sells

Rank Stock Value
1
WY icon
Weyerhaeuser
WY
+$48M
2
EQC icon
Equity Commonwealth
EQC
+$43.5M
3
FR icon
First Industrial Realty Trust
FR
+$42.1M
4
VNO icon
Vornado Realty Trust
VNO
+$41.6M
5
AGCO icon
AGCO
AGCO
+$33.9M

Sector Composition

Rank Sector Weight
1 Real Estate 36.32%
2 Financials 24.64%
3 Consumer Discretionary 11.71%
4 Industrials 9.27%
5 Technology 4.07%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow Held Since
LABL
51
DELISTED
Multi-Color Corp
LABL
$6.91M 0.27%
129,533
+34,691
+37% +$1.85M
2014 Q1
8 quarters
ICFI icon
52
ICF International
ICFI
$1.59B
$6.57M 0.25%
191,129
+164
+0.1% +$5.48K
2013 Q2
11 quarters
BR icon
53
Broadridge
BR
$19.6B
$6.45M 0.25%
108,778
+53
+0% +$2.89K
2013 Q2
11 quarters
PRSU icon
54
Pursuit Attractions and Hospitality Inc
PRSU
$1.52B
$6.31M 0.24%
216,238
-1,399
-0.6% -$39.4K
2014 Q4
5 quarters
CUB icon
55
DELISTED
Cubic Corporation
CUB
$6.29M 0.24%
157,327
+15,871
+11% +$612K
2013 Q2
11 quarters
EME icon
56
Emcor
EME
$32B
$6.18M 0.24%
127,187
-15,261
-11% -$696K
2013 Q2
11 quarters
ARCO icon
57
Arcos Dorados Holdings
ARCO
$1.7B
$6.07M 0.23%
1,662,288
-127,617
-7% -$353K
2014 Q2
7 quarters
TFX icon
58
Teleflex
TFX
$5.33B
$6.04M 0.23%
38,457
-7,500
-16% -$1.05M
2013 Q2
11 quarters
WKC icon
59
World Kinect Corp
WKC
$1.87B
$5.99M 0.23%
123,282
-62,369
-34% -$2.68M
2013 Q4
9 quarters
DORM icon
60
Dorman Products
DORM
$3.71B
$5.97M 0.23%
109,728
-45,152
-29% -$2.14M
2015 Q1
4 quarters
SMP icon
61
Standard Motor Products
SMP
$838M
$5.95M 0.23%
171,670
-16,270
-9% -$561K
2014 Q2
7 quarters
CZZ
62
DELISTED
Cosan Limited
CZZ
$5.81M 0.22%
1,180,246
+49,127
+4% +$172K
2015 Q3
2 quarters
CST
63
DELISTED
CST Brands, Inc.
CST
$5.66M 0.22%
147,683
-14,698
-9% -$540K
2013 Q2
11 quarters
SYNT
64
DELISTED
Syntel Inc
SYNT
$5.61M 0.22%
112,250
-48,072
-30% -$2.2M
2013 Q2
11 quarters
SBSI icon
65
Southside Bancshares
SBSI
$909M
$5.53M 0.21%
228,079
+15,386
+7% +$335K
2015 Q3
2 quarters
KEX icon
66
Kirby Corp
KEX
$7.23B
$5.37M 0.21%
89,134
-95,020
-52% -$5.18M
2015 Q4
1 quarter
PDCO icon
67
DELISTED
Patterson Companies, Inc.
PDCO
$5.09M 0.2%
109,335
– –
2014 Q2
7 quarters
FLWS icon
68
1-800-Flowers.com
FLWS
$185M
$5.06M 0.19%
642,023
+332
+0.1% +$2.49K
2015 Q2
3 quarters
DST
69
DELISTED
DST Systems Inc.
DST
$5.03M 0.19%
89,146
+96
+0.1% +$5.11K
2015 Q3
2 quarters
IM
70
DELISTED
Ingram Micro
IM
$5.01M 0.19%
139,651
-68,951
-33% -$2.21M
2013 Q2
11 quarters
DBI icon
71
Designer Brands
DBI
$317M
$4.85M 0.19%
175,377
-125,388
-42% -$3.14M
2015 Q3
2 quarters
PB icon
72
Prosperity Bancshares
PB
$8.07B
$4.75M 0.18%
102,362
-21,319
-17% -$901K
2014 Q1
8 quarters
CSW icon
73
CSW Industrials
CSW
$4.77B
$4.74M 0.18%
+150,348
New +$4.82M
2016 Q1
0 quarters
CSGS icon
74
DELISTED
CSG Systems International
CSGS
$4.61M 0.18%
102,093
-111,585
-52% -$4.21M
2013 Q4
9 quarters
CFR icon
75
Cullen/Frost Bankers
CFR
$9.51B
$4.54M 0.17%
82,323
-17,111
-17% -$886K
2013 Q2
11 quarters
1 2
3
4 5

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Third Avenue Management's Q1 2016 Portfolio in Review

As of Q1 2016, Third Avenue Management held 120 positions worth $2.6B, down 16% from $3.09B the previous quarter. Its ten largest holdings account for 44% of the portfolio.

Third Avenue Management withdrew a net $457M in Q1 2016, closing 6 positions and reducing 64 holdings. Its most notable exit was Loews, an estimated $26.9M position sold in full.

By sector, the portfolio is most concentrated in Real Estate at 36% of assets, down from 39% a quarter earlier, followed by Financials and Consumer Discretionary.

Against the trend, Third Avenue Management opened a new position in Lennar Class A worth $54.3M.

  • Third Avenue Management's largest Q1 2016 buy was Lennar Class A: 1,179,780 shares worth $54.3M.
  • Third Avenue Management added most to Kennedy-Wilson Holdings in Q1 2016, an estimated $17.8M increase.
  • Third Avenue Management's biggest Q1 2016 reduction was Weyerhaeuser, cutting an estimated $48M.
  • Third Avenue Management fully exited Loews in Q1 2016, selling an estimated $26.9M.
  • Third Avenue Management's ten largest holdings make up 44% of its $2.6B portfolio in Q1 2016.
  • Third Avenue Management opened 12 new positions and closed 6 in Q1 2016.
  • Third Avenue Management's portfolio value fell 16% quarter-over-quarter to $2.6B.

Based on Third Avenue Management's 13F filing for Q1 2016, filed 12 May 2016.