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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
(-13%)
Cap. Flow
-$418M
Cap. Flow
% of AUM
-18.6%
Top 10 Holdings %
Top 10 Hldgs %
46.17%
Holding
122
New
8
Increased
10
Reduced
59
Closed
8
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Johnson Controls International
JCI
|
+$25.4M |
| 2 |
Amgen
AMGN
|
+$21.1M |
| 3 |
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 |
Tanger
SKT
|
+$49.2M |
| 3 |
PPS
Post Properties
PPS
|
+$47.7M |
| 4 |
First Industrial Realty Trust
FR
|
+$32.7M |
| 5 |
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 | |
|---|---|---|---|---|---|---|
|
CBM
76
DELISTED
Cambrex Corporation
CBM
| $3.97M | 0.18% |
76,681
| – | – |
|
77
Jefferies Financial Group
JEF
$12.7B
| $3.94M | 0.18% |
254,163
-25,548
| -9% | -$390K |
|
78
Alico
ALCO
$288M
| $3.92M | 0.17% |
129,733
| – | – |
|
|
IM
79
DELISTED
Ingram Micro
IM
| $3.85M | 0.17% |
110,658
-28,993
| -21% | -$1.01M |
|
|
CNH
80
CNH Industrial
CNH
$13.4B
| $3.84M | 0.17% |
617,218
| – | – |
|
81
Interface
TILE
$1.88B
| $3.8M | 0.17% |
249,370
+166,159
| +200% | +$2.83M |
|
82
ABM Industries
ABM
$2.76B
| $3.77M | 0.17% |
103,224
| – | – |
|
|
SEMG
83
DELISTED
SEMGROUP CORPORATION
SEMG
| $3.69M | 0.16% |
113,491
| – | – |
|
84
Broadridge
BR
$16.6B
| $3.64M | 0.16% |
55,866
-52,912
| -49% | -$3.28M |
|
|
85
Tanger
SKT
$4.75B
| $3.53M | 0.16% |
87,762
-1,350,763
| -94% | -$49.2M |
|
|
B
86
DELISTED
Barnes Group Inc.
B
| $3.37M | 0.15% |
101,821
+9,072
| +10% | +$308K |
|
87
Progress Software
PRGS
$1.54B
| $3.1M | 0.14% |
112,816
-39,902
| -26% | -$1.03M |
|
|
LM
88
DELISTED
Legg Mason, Inc.
LM
| $3.08M | 0.14% |
104,455
| – | – |
|
89
MYR Group
MYRG
$6.39B
| $2.8M | 0.12% |
116,310
| – | – |
|
90
ANI Pharmaceuticals
ANIP
$1.78B
| $2.79M | 0.12% |
50,053
| – | – |
|
|
CSGS
91
DELISTED
CSG Systems International
CSGS
| $2.72M | 0.12% |
67,467
-34,626
| -34% | -$1.49M |
|
|
MDRX
92
DELISTED
Veradigm Inc. Common Stock
MDRX
| $2.6M | 0.12% |
204,351
| – | – |
|
93
Seaboard Corp
SEB
$4.42B
| $2.58M | 0.11% |
898
+879
| +4,626% | +$2.58M |
|
|
FRGI
94
DELISTED
Fiesta Restaurant Group, Inc.
FRGI
| $2.5M | 0.11% |
+114,406
| New | +$3.23M |
|
|
SBSA
95
DELISTED
Spanish Broadcasting System Inc.
SBSA
| $2.28M | 0.1% |
639,603
| – | – |
|
|
CIR
96
DELISTED
CIRCOR International, Inc
CIR
| $2.27M | 0.1% |
39,819
| – | – |
|
|
UCP
97
DELISTED
UCP, Inc.
UCP
| $2.25M | 0.1% |
280,000
-60,000
| -18% | -$457K |
|
98
EnerSys
ENS
$7.37B
| $2.13M | 0.09% |
35,906
| – | – |
|
99
Century Communities
CCS
$2.05B
| $2.08M | 0.09% |
119,974
-12,500
| -9% | -$220K |
|
100
Capital Southwest
CSWC
$1.46B
| $2.06M | 0.09% |
150,348
| – | – |
|
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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.