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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 | |
|---|---|---|---|---|---|---|
76
G-III Apparel Group
GIII
$1.41B
| $4.21M | 0.19% |
142,601
-617
| -0.4% | -$17.9K |
|
77
Kaiser Aluminum
KALU
$2.56B
| $4.1M | 0.19% |
52,778
+3,373
| +7% | +$269K |
|
|
CZZ
78
DELISTED
Cosan Limited
CZZ
| $3.84M | 0.17% |
511,000
-140,014
| -22% | -$1.1M |
|
|
CRZO
79
DELISTED
Carrizo Oil & Gas Inc
CRZO
| $3.84M | 0.17% |
102,753
+10,318
| +11% | +$398K |
|
80
Interface
TILE
$2.23B
| $3.75M | 0.17% |
202,020
-47,453
| -19% | -$818K |
|
81
Designer Brands
DBI
$279M
| $3.73M | 0.17% |
164,900
-62,452
| -27% | -$1.42M |
|
82
Teleflex
TFX
$5.92B
| $3.71M | 0.17% |
23,007
-95
| -0.4% | -$14.8K |
|
83
Seaboard Corp
SEB
$3.75B
| $3.7M | 0.17% |
937
-3
| -0.3% | -$11.3K |
|
84
Korn Ferry
KFY
$4.43B
| $3.69M | 0.17% |
+125,500
| New | +$3.06M |
|
85
ABM Industries
ABM
$2.77B
| $3.67M | 0.17% |
89,857
-13,367
| -13% | -$544K |
|
86
Progress Software
PRGS
$1.84B
| $3.59M | 0.16% |
112,355
-461
| -0.4% | -$13.4K |
|
87
Alico
ALCO
$300M
| $3.51M | 0.16% |
129,227
-506
| -0.4% | -$13.8K |
|
88
Jefferies Financial Group
JEF
$12.2B
| $3.5M | 0.16% |
168,388
-22,007
| -12% | -$411K |
|
89
TriNet
TNET
$3.23B
| $3.29M | 0.15% |
+128,600
| New | +$2.92M |
|
|
CSGS
90
DELISTED
CSG Systems International
CSGS
| $3.25M | 0.15% |
67,198
-269
| -0.4% | -$11.6K |
|
91
MYR Group
MYRG
$4.58B
| $3.24M | 0.15% |
86,000
-30,310
| -26% | -$1.04M |
|
|
LM
92
DELISTED
Legg Mason, Inc.
LM
| $3.12M | 0.14% |
104,132
-323
| -0.3% | -$10.1K |
|
|
FRGI
93
DELISTED
Fiesta Restaurant Group, Inc.
FRGI
| $3.11M | 0.14% |
104,127
-440
| -0.4% | -$12.2K |
|
|
PDCO
94
DELISTED
Patterson Companies, Inc.
PDCO
| $3.09M | 0.14% |
75,400
-316
| -0.4% | -$13.6K |
|
95
ANI Pharmaceuticals
ANIP
$1.67B
| $3.03M | 0.14% |
49,933
-120
| -0.2% | -$7.34K |
|
|
BMCH
96
DELISTED
BMC Stock Holdings, Inc
BMCH
| $2.75M | 0.12% |
+141,000
| New | +$2.56M |
|
97
Capital Southwest
CSWC
$1.62B
| $2.43M | 0.11% |
150,348
| – | – |
|
|
MDRX
98
DELISTED
Veradigm Inc. Common Stock
MDRX
| $2.08M | 0.09% |
203,687
-664
| -0.3% | -$7.58K |
|
|
UCP
99
DELISTED
UCP, Inc.
UCP
| $2.05M | 0.09% |
169,859
-101,550
| -37% | -$1.01M |
|
100
Century Communities
CCS
$1.97B
| $1.99M | 0.09% |
94,974
-15,000
| -14% | -$311K |
|
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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.