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
-9.1%
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
$3.67B
AUM Growth
-$300M
Cap. Flow
+$141M
Cap. Flow %
3.85%
Top 10 Hldgs %
42.02%
Holding
142
New
13
Increased
44
Reduced
42
Closed
13
Avg Time Held
1.6 years
Top 10 Avg Time Held
1.3 years
Top 20 Avg Time Held
1.4 years

Top Buys

Rank Stock Value
1
BKD icon
Brookdale Senior Living
BKD
+$71M
2
AXE
Anixter International Inc
AXE
+$37.5M
3
WY icon
Weyerhaeuser
WY
+$21.7M
4
KW icon
Kennedy-Wilson Holdings
KW
+$18.4M
5
MAC icon
Macerich
MAC
+$18.4M

Top Sells

Rank Stock Value
1
DVN icon
Devon Energy
DVN
+$19.9M
2
NVDA icon
NVIDIA
NVDA
+$18.1M
3
CMA icon
Comerica
CMA
+$17.4M
4
WTM icon
White Mountains Insurance
WTM
+$15.1M
5
PKX icon
POSCO
PKX
+$15.1M

Sector Composition

Rank Sector Weight
1 Real Estate 37.53%
2 Financials 22.86%
3 Consumer Discretionary 9.27%
4 Industrials 8.57%
5 Technology 4.58%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow Held Since
FLWS icon
76
1-800-Flowers.com
FLWS
$177M
$5.94M 0.16%
653,109
+306,676
+89% +$2.9M
2015 Q2
1 quarter
ICFI icon
77
ICF International
ICFI
$1.55B
$5.92M 0.16%
194,918
+25,605
+15% +$880K
2013 Q2
9 quarters
ALCO icon
78
Alico
ALCO
$283M
$5.83M 0.16%
143,643
– –
2013 Q2
9 quarters
DBI icon
79
Designer Brands
DBI
$300M
$5.75M 0.16%
+226,990
New +$7.06M
2015 Q3
0 quarters
MTN icon
80
Vail Resorts
MTN
$5.4B
$5.73M 0.16%
54,710
-16,237
-23% -$1.76M
2013 Q2
9 quarters
CYN icon
81
DELISTED
CITY NATIONAL CORPORATION
CYN
$5.4M 0.15%
61,349
-11,336
-16% -$1M
2013 Q2
9 quarters
UNF icon
82
Unifirst Corp
UNF
$4.66B
$5.39M 0.15%
50,455
-3,100
-6% -$345K
2013 Q2
9 quarters
SBSI icon
83
Southside Bancshares
SBSI
$897M
$5.35M 0.15%
+208,975
New +$5.27M
2015 Q3
0 quarters
BTZ icon
84
BlackRock Credit Allocation Income Trust
BTZ
$872M
$4.99M 0.14%
409,999
-427,054
-51% -$5.29M
2013 Q3
8 quarters
UONEK icon
85
Urban One Class D
UONEK
$16.9M
$4.92M 0.13%
231,136
– –
2013 Q4
7 quarters
HYB
86
DELISTED
New America High Income Fund, Inc.
HYB
$4.75M 0.13%
595,362
+13,486
+2% +$112K
2013 Q3
8 quarters
ARCO icon
87
Arcos Dorados Holdings
ARCO
$1.66B
$4.74M 0.13%
1,792,281
+372,340
+26% +$1.42M
2014 Q2
5 quarters
ABM icon
88
ABM Industries
ABM
$2.95B
$4.69M 0.13%
171,701
-68,856
-29% -$2.18M
2013 Q2
9 quarters
DST
89
DELISTED
DST Systems Inc.
DST
$4.68M 0.13%
+89,082
New +$4.95M
2015 Q3
0 quarters
CIR icon
90
DELISTED
CIRCOR International, Inc
CIR
$4.67M 0.13%
116,329
+29,296
+34% +$1.36M
2015 Q1
2 quarters
FLOW icon
91
DELISTED
SPX FLOW, Inc.
FLOW
$4.65M 0.13%
+135,078
New +$4.59M
2015 Q3
0 quarters
MHY icon
92
DELISTED
WESTERN ASSET MANAGED HIGH INCOM FD INC. COM
MHY
$4.58M 0.12%
1,025,669
– –
2013 Q3
8 quarters
SEMG icon
93
DELISTED
SEMGROUP CORPORATION
SEMG
$4.5M 0.12%
104,077
+7,252
+7% +$439K
2013 Q2
9 quarters
NHS icon
94
Neuberger High Yield Strategies Fund Inc
NHS
$223M
$4.34M 0.12%
425,826
– –
2013 Q3
8 quarters
CNH icon
95
CNH Industrial
CNH
$19.2B
$4.02M 0.11%
708,998
+335,326
+90% +$2.44M
2015 Q2
1 quarter
MDRX
96
DELISTED
Veradigm Inc. Common Stock
MDRX
$3.69M 0.1%
297,717
-318,142
-52% -$4.38M
2013 Q2
9 quarters
NBL
97
DELISTED
Noble Energy, Inc.
NBL
$3.69M 0.1%
+122,223
New +$4.21M
2015 Q3
0 quarters
SBSA
98
DELISTED
Spanish Broadcasting System Inc.
SBSA
$3.58M 0.1%
681,637
– –
2013 Q2
9 quarters
ARDC icon
99
Are Dynamic Credit Allocation Fund
ARDC
$269M
$3.55M 0.1%
253,978
-53,688
-17% -$796K
2013 Q4
7 quarters
ENS icon
100
EnerSys
ENS
$6.13B
$3.45M 0.09%
64,368
– –
2013 Q2
9 quarters
2 3
4
5 6

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Third Avenue Management's Q3 2015 Portfolio in Review

As of Q3 2015, Third Avenue Management held 142 positions worth $3.67B, down 7.6% from $3.97B the previous quarter. Its ten largest holdings account for 42% of the portfolio.

Third Avenue Management deployed $141M of net new capital in Q3 2015, opening 13 new positions and adding to 44 existing holdings. Its largest new stake was Kennedy-Wilson Holdings: 748,000 shares worth $16.6M.

By sector, the portfolio is most concentrated in Real Estate at 38% of assets, up from 34% a quarter earlier, followed by Financials and Consumer Discretionary.

On the sell side, the largest reduction was Devon Energy, an estimated $19.9M trimmed.

  • Third Avenue Management's largest Q3 2015 buy was Kennedy-Wilson Holdings: 748,000 shares worth $16.6M.
  • Third Avenue Management added most to Brookdale Senior Living in Q3 2015, an estimated $71M increase.
  • Third Avenue Management's biggest Q3 2015 reduction was Devon Energy, cutting an estimated $19.9M.
  • Third Avenue Management fully exited ROSETTA RESOURCES INC in Q3 2015, selling an estimated $6.62M.
  • Third Avenue Management's ten largest holdings make up 42% of its $3.67B portfolio in Q3 2015.
  • Third Avenue Management opened 13 new positions and closed 13 in Q3 2015.
  • Third Avenue Management's portfolio value fell 7.6% quarter-over-quarter to $3.67B.

Based on Third Avenue Management's 13F filing for Q3 2015, filed 12 Nov 2015.