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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
+1.23%
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
$3.99B
AUM Growth
+$21.9M
Cap. Flow
-$1.04M
Cap. Flow %
-0.03%
Top 10 Hldgs %
38.03%
Holding
149
New
10
Increased
58
Reduced
37
Closed
16

Top Buys

Rank Stock Value
1
MAC icon
Macerich
MAC
+$55M
2
PNC icon
PNC Financial Services
PNC
+$49.2M
3
WY icon
Weyerhaeuser
WY
+$30.2M
4
RYN icon
Rayonier
RYN
+$24.4M
5
CMA
Comerica
CMA
+$18.8M

Top Sells

Rank Stock Value
1
TGT icon
Target
TGT
+$57.2M
2
KEY icon
KeyCorp
KEY
+$46.6M
3
HT
Hersha Hospitality Trust Priority Class A Common Shares of Beneficial Interest
HT
+$25.2M
4
BNY
Bank of New York Mellon
BNY
+$16.7M
5
BN icon
Brookfield
BN
+$10.4M

Sector Composition

Rank Sector Weight
1 Real Estate 31.64%
2 Financials 24.47%
3 Consumer Discretionary 9.13%
4 Industrials 7.36%
5 Energy 5.66%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
DHG
101
DELISTED
Deutsche High Incm Opportunities
DHG
$4.45M 0.11%
309,656
-35,500
-10% -$502K
ASNA
102
DELISTED
Ascena Retail Group, Inc.
ASNA
$4.05M 0.1%
+13,961
New +$3.54M
DAR icon
103
Darling Ingredients
DAR
$9.93B
$3.8M 0.1%
271,325
-170,700
-39% -$2.81M
SBSA
104
DELISTED
Spanish Broadcasting System Inc.
SBSA
$2.74M 0.07%
681,637
– –
CCS icon
105
Century Communities
CCS
$2B
$2.56M 0.06%
132,474
– –
WIRE
106
DELISTED
Encore Wire Corp
WIRE
$2.53M 0.06%
66,812
– –
SCL icon
107
Stepan Co
SCL
$1.31B
$2.47M 0.06%
59,197
-129,274
-69% -$5.15M
FOR icon
108
Forestar Group
FOR
$1.44B
$2.39M 0.06%
151,436
– –
CIR
109
DELISTED
CIRCOR International, Inc
CIR
$2.36M 0.06%
+43,100
New +$2.29M
UCP
110
DELISTED
UCP, Inc.
UCP
$1.95M 0.05%
223,800
+50,000
+29% +$466K
CMA.WS
111
DELISTED
Comerica Incorporated Ws
CMA.WS
$1.62M 0.04%
100,000
-30,000
-23% -$473K
WFC icon
112
Wells Fargo
WFC
$261B
$1.52M 0.04%
27,937
+11,236
+67% +$607K
DST
113
DELISTED
DST Systems Inc.
DST
$1.01M 0.03%
18,200
+12,200
+203% +$627K
TRNO icon
114
Terreno Realty
TRNO
$7.68B
$964K 0.02%
42,290
– –
PPBI
115
DELISTED
Pacific Premier Bancorp
PPBI
$894K 0.02%
+55,209
New +$879K
KIM icon
116
Kimco Realty
KIM
$17.6B
$699K 0.02%
26,045
– –
AKR icon
117
Acadia Realty Trust
AKR
$2.99B
$698K 0.02%
19,999
– –
POWL icon
118
Powell Industries
POWL
$8.46B
$650K 0.02%
57,750
+25,800
+81% +$316K
CDR
119
DELISTED
Cedar Realty Trust, Inc
CDR
$599K 0.02%
12,121
– –
COF.WS
120
DELISTED
Capital One Financial Corp
COF.WS
$556K 0.01%
15,000
– –
EXL
121
DELISTED
EXCEL TRUST , INC COM STK
EXL
$545K 0.01%
38,890
– –
PSB
122
DELISTED
PS Business Parks, Inc.
PSB
$507K 0.01%
6,100
– –
PLD icon
123
Prologis
PLD
$138B
$387K 0.01%
8,880
– –
WLK icon
124
Westlake Corp
WLK
$9.46B
$353K 0.01%
4,900
+400
+9% +$25.6K
TRC.WS
125
DELISTED
TEJON RANCH CO WTS EXP 8/31/2016 (DE)
TRC.WS
$287K 0.01%
359,332
– –
2 3 4
5
6

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AMG
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Third Avenue Management's Q1 2015 Portfolio in Review

As of Q1 2015, Third Avenue Management held 149 positions worth $3.99B, up 0.55% from $3.97B the previous quarter. Its ten largest holdings account for 38% of the portfolio.

Third Avenue Management's Q1 2015 filing shows 10 new, 58 increased, 37 reduced and 16 closed positions. Its largest new stake was Macerich: 629,026 shares worth $53M. The largest sale was Target, an estimated $57.2M.

By sector, the portfolio is most concentrated in Real Estate at 32% of assets, up from 29% a quarter earlier, followed by Financials and Consumer Discretionary.

  • Third Avenue Management's largest Q1 2015 buy was Macerich: 629,026 shares worth $53M.
  • Third Avenue Management added most to PNC Financial Services in Q1 2015, an estimated $49.2M increase.
  • Third Avenue Management's biggest Q1 2015 reduction was KeyCorp, cutting an estimated $46.6M.
  • Third Avenue Management fully exited Target in Q1 2015, selling an estimated $57.2M.
  • Third Avenue Management's ten largest holdings make up 38% of its $3.99B portfolio in Q1 2015.
  • Third Avenue Management opened 10 new positions and closed 16 in Q1 2015.
  • Third Avenue Management's portfolio value rose 0.55% quarter-over-quarter to $3.99B.

Based on Third Avenue Management's 13F filing for Q1 2015, filed 14 May 2015.