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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
Cap. Flow
-$418M
Cap. Flow %
-18.6%
Top 10 Hldgs %
46.17%
Holding
122
New
8
Increased
10
Reduced
59
Closed
8

Top Buys

Rank Stock Value
1
JCI icon
Johnson Controls International
JCI
+$25.4M
2
AMGN icon
Amgen
AMGN
+$21.1M
3
LIVN icon
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
SKT icon
Tanger
SKT
+$49.2M
3
PPS
Post Properties
PPS
+$47.7M
4
FR icon
First Industrial Realty Trust
FR
+$32.7M
5
GEN icon
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
FLOW
101
DELISTED
SPX FLOW, Inc.
FLOW
$1.76M 0.08%
67,624
– –
CRZO
102
DELISTED
Carrizo Oil & Gas Inc
CRZO
$1.68M 0.07%
46,900
– –
CTT
103
DELISTED
CATCHMARK TIMBER TRUST, INC.
CTT
$1.25M 0.06%
102,000
-56,900
-36% -$632K
CMA.WS
104
DELISTED
Comerica Incorporated Ws
CMA.WS
$1.17M 0.05%
90,000
-10,000
-10% -$156K
FPO
105
DELISTED
First Potomac Realty Trust
FPO
$1.07M 0.05%
116,900
-28,100
-19% -$250K
MAGN
106
Magnera Corp
MAGN
$470M
$911K 0.04%
3,584
– –
COOP
107
DELISTED
Mr. Cooper
COOP
$617K 0.03%
23,142
– –
VMI icon
108
Valmont Industries
VMI
$9.38B
$497K 0.02%
3,675
-4,580
-55% -$606K
NXRT
109
NexPoint Residential Trust
NXRT
$662M
$455K 0.02%
+25,000
New +$369K
TTE icon
110
TotalEnergies
TTE
$192B
$135K 0.01%
2,807
-249
-8% -$11.9K
TPHS
111
DELISTED
Trinity Place Holdings Inc.com
TPHS
$98K ﹤0.01%
12,729
+6,700
+111% +$49.4K
VOD icon
112
Vodafone
VOD
$35.2B
$86K ﹤0.01%
2,770
-389
-12% -$12.6K
FCE.B
113
DELISTED
Forest City Realty Trust, Inc.
FCE.B
$16K ﹤0.01%
702
– –
GEN icon
114
Gen Digital
GEN
$15.1B
– –
-1,510,674
Closed -$27.8M
HHH icon
115
Howard Hughes
HHH
$3.9B
– –
-247,144
Closed -$24.9M
WFC icon
116
Wells Fargo
WFC
$261B
– –
-41,637
Closed -$2.01M
EQC
117
DELISTED
Equity Commonwealth
EQC
– –
-1,828,204
Closed -$51.6M
WFC.WS
118
DELISTED
Wells Fargo & Company Ws
WFC.WS
– –
-1,156,551
Closed -$18.1M
PPS
119
DELISTED
Post Properties
PPS
– –
-798,642
Closed -$47.7M
HERO
120
DELISTED
HERCULES OFFSHORE INC COM STK
HERO
– –
-812,533
Closed -$1.95M
BXLT
121
DELISTED
BAXALTA INC COM STK (DE)
BXLT
– –
-521,322
Closed -$21.1M
TRC.WS
122
DELISTED
TEJON RANCH CO WTS EXP 8/31/2016 (DE)
TRC.WS
$0 ﹤0.01%
352,189
– –
1 2 3 4
5

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CPC
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VHMC
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DTL
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ACP
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BWP
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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.