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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
+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

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
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
UNF icon
76
Unifirst Corp
UNF
$5.1B
$4.28M 0.16%
39,261
+3,240
+9% +$339K
MTN icon
77
Vail Resorts
MTN
$5.06B
$4.27M 0.16%
31,948
-3,814
-11% -$478K
KALU icon
78
Kaiser Aluminum
KALU
$2.56B
$4.07M 0.16%
48,157
-42,103
-47% -$3.31M
JEF icon
79
Jefferies Financial Group
JEF
$12.2B
$4.05M 0.16%
279,711
+22,598
+9% +$318K
PRGS icon
80
Progress Software
PRGS
$1.84B
$3.68M 0.14%
152,718
-74,874
-33% -$1.84M
CNH
81
CNH Industrial
CNH
$18.8B
$3.63M 0.14%
617,218
-73,075
-11% -$412K
LM
82
DELISTED
Legg Mason, Inc.
LM
$3.62M 0.14%
104,455
– –
ALCO icon
83
Alico
ALCO
$300M
$3.58M 0.14%
129,733
+212
+0.2% +$5.93K
CBM
84
DELISTED
Cambrex Corporation
CBM
$3.37M 0.13%
+76,681
New +$3.02M
ABM icon
85
ABM Industries
ABM
$2.77B
$3.33M 0.13%
103,224
+48
+0% +$1.45K
B
86
DELISTED
Barnes Group Inc.
B
$3.25M 0.13%
92,749
-121,216
-57% -$4.02M
UONEK icon
87
Urban One Class D
UONEK
$19.4M
$3.04M 0.12%
212,779
– –
MYRG icon
88
MYR Group
MYRG
$4.58B
$2.92M 0.11%
116,310
+50
+0% +$1.08K
UCP
89
DELISTED
UCP, Inc.
UCP
$2.73M 0.11%
340,000
– –
MDRX
90
DELISTED
Veradigm Inc. Common Stock
MDRX
$2.7M 0.1%
204,351
-93,173
-31% -$1.22M
SEMG
91
DELISTED
SEMGROUP CORPORATION
SEMG
$2.54M 0.1%
113,491
-28,811
-20% -$594K
CCS icon
92
Century Communities
CCS
$1.97B
$2.26M 0.09%
132,474
– –
SBSA
93
DELISTED
Spanish Broadcasting System Inc.
SBSA
$2.14M 0.08%
639,603
-29,609
-4% -$98.8K
CSWC icon
94
Capital Southwest
CSWC
$1.62B
$2.08M 0.08%
150,348
– –
WFC icon
95
Wells Fargo
WFC
$262B
$2.01M 0.08%
41,637
– –
ENS icon
96
EnerSys
ENS
$6.69B
$2M 0.08%
35,906
-10,710
-23% -$553K
HERO
97
DELISTED
HERCULES OFFSHORE INC COM STK
HERO
$1.95M 0.08%
812,533
– –
CIR
98
DELISTED
CIRCOR International, Inc
CIR
$1.85M 0.07%
39,819
-43,695
-52% -$1.7M
CTT
99
DELISTED
CATCHMARK TIMBER TRUST, INC.
CTT
$1.72M 0.07%
158,900
– –
FLOW
100
DELISTED
SPX FLOW, Inc.
FLOW
$1.7M 0.07%
67,624
-45,291
-40% -$989K
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.