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
CZZ
101
DELISTED
Cosan Limited
CZZ
$2.92M 0.08%
+1,011,834
New +$4.19M
2015 Q3
0 quarters
MAGN icon
102
Magnera Corp
MAGN
$380M
$2.8M 0.08%
12,506
-4,212
-25% -$1.05M
2013 Q2
9 quarters
CCS icon
103
Century Communities
CCS
$1.53B
$2.63M 0.07%
132,474
– –
2014 Q3
4 quarters
LXU icon
104
LSB Industries
LXU
$726M
$2.56M 0.07%
216,888
+61
+0% +$1.35K
2013 Q2
9 quarters
RSTI
105
DELISTED
Rofin-Sinar Technologies Inc
RSTI
$2.5M 0.07%
96,385
-134,251
-58% -$3.41M
2013 Q2
9 quarters
ANIP icon
106
ANI Pharmaceuticals
ANIP
$1.61B
$2.36M 0.06%
59,716
+7,926
+15% +$451K
2015 Q2
1 quarter
UCP
107
DELISTED
UCP, Inc.
UCP
$2.28M 0.06%
340,000
+70,000
+26% +$534K
2014 Q3
4 quarters
WFC icon
108
Wells Fargo
WFC
$243B
$2.27M 0.06%
44,137
+13,900
+46% +$764K
2014 Q3
4 quarters
IUSV icon
109
iShares Core S&P US Value ETF
IUSV
$27.7B
$2M 0.05%
+49,395
New +$2.13M
2015 Q3
0 quarters
SPY icon
110
State Street SPDR S&P 500 ETF Trust
SPY
$812B
$2M 0.05%
+10,425
New +$2.11M
2015 Q3
0 quarters
CTT
111
DELISTED
CATCHMARK TIMBER TRUST, INC.
CTT
$1.63M 0.04%
+158,900
New +$1.69M
2015 Q3
0 quarters
FPO
112
DELISTED
First Potomac Realty Trust
FPO
$1.59M 0.04%
145,000
– –
2015 Q2
1 quarter
VMI icon
113
Valmont Industries
VMI
$8.95B
$1.42M 0.04%
14,911
-2,522
-14% -$276K
2014 Q4
3 quarters
CMA.WS icon
114
DELISTED
Comerica Incorporated Ws
CMA.WS
$1.27M 0.03%
100,000
– –
2013 Q2
9 quarters
SPXC icon
115
SPX Corp
SPXC
$8.42B
$990K 0.03%
+83,019
New +$1.27M
2015 Q3
0 quarters
TRNO icon
116
Terreno Realty
TRNO
$7.04B
$831K 0.02%
42,290
– –
2013 Q2
9 quarters
COOP icon
117
DELISTED
Mr. Cooper
COOP
$765K 0.02%
+24,701
New +$785K
2015 Q3
0 quarters
KIM icon
118
Kimco Realty
KIM
$15B
$636K 0.02%
26,045
– –
2013 Q2
9 quarters
AKR icon
119
Acadia Realty Trust
AKR
$2.47B
$601K 0.02%
19,999
– –
2013 Q2
9 quarters
NOR
120
DELISTED
NORANDA ALUM HLDG CORP COM NEW
NOR
$547K 0.01%
333,434
– –
2015 Q2
1 quarter
CDR
121
DELISTED
Cedar Realty Trust, Inc
CDR
$497K 0.01%
12,121
– –
2013 Q2
9 quarters
PSB
122
DELISTED
PS Business Parks, Inc.
PSB
$484K 0.01%
6,100
– –
2013 Q2
9 quarters
AMD icon
123
Advanced Micro Devices
AMD
$931B
$430K 0.01%
250,000
– –
2015 Q2
1 quarter
PLD icon
124
Prologis
PLD
$124B
$345K 0.01%
8,880
– –
2013 Q2
9 quarters
POWL icon
125
Powell Industries
POWL
$6.18B
$187K 0.01%
18,600
-45,450
-71% -$450K
2014 Q4
3 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.