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
+7.13%
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
$2.18B
AUM Growth
-$67.5M
(-3%)
Cap. Flow
-$203M
Cap. Flow
% of AUM
-9.31%
Top 10 Holdings %
Top 10 Hldgs %
44.12%
Holding
116
New
2
Increased
19
Reduced
54
Closed
6
Avg Time Held
2.1
years
Top 10 Avg Time Held
2.1
years
Top 20 Avg Time Held
1.9
years
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Johnson Controls International
JCI
|
+$5.96M |
| 2 |
Comfort Systems
FIX
|
+$4.82M |
| 3 |
SHPG
Shire pic
SHPG
|
+$3.98M |
| 4 |
LivaNova
LIVN
|
+$3.79M |
| 5 |
SP Plus Corporation
SP
|
+$3.04M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
First Industrial Realty Trust
FR
|
+$23.9M |
| 2 |
Macerich
MAC
|
+$23.5M |
| 3 |
General Motors
GM
|
+$19M |
| 4 |
Comerica
CMA
|
+$18.5M |
| 5 |
Weyerhaeuser
WY
|
+$17.9M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Real Estate | 28.87% |
| 2 | Financials | 28.25% |
| 3 | Industrials | 12.48% |
| 4 | Consumer Discretionary | 10.78% |
| 5 | Healthcare | 5.26% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
101
Tanger
SKT
$3.94B
| $1.47M | 0.07% |
37,674
-50,088
| -57% | -$2.02M |
2013 Q3
12 quarters
|
|
|
CTT
102
DELISTED
CATCHMARK TIMBER TRUST, INC.
CTT
| $935K | 0.04% |
80,000
-22,000
| -22% | -$260K |
2015 Q3
4 quarters
|
|
|
FPO
103
DELISTED
First Potomac Realty Trust
FPO
| $732K | 0.03% |
80,000
-36,900
| -32% | -$357K |
2015 Q2
5 quarters
|
|
104
DELISTED
Mr. Cooper
COOP
| $507K | 0.02% |
18,059
-5,083
| -22% | -$143K |
2015 Q3
4 quarters
|
|
105
NexPoint Residential Trust
NXRT
$467M
| $492K | 0.02% |
25,000
| – | – |
2016 Q2
1 quarter
|
|
106
Valmont Industries
VMI
$8.98B
| $319K | 0.01% |
2,369
-1,306
| -36% | -$172K |
2014 Q4
7 quarters
|
|
107
TotalEnergies
TTE
$198B
| $134K | 0.01% |
2,807
| – | – |
2014 Q4
7 quarters
|
|
108
DELISTED
Trinity Place Holdings Inc.com
TPHS
| $124K | 0.01% |
12,729
| – | – |
2016 Q1
2 quarters
|
|
109
Vodafone
VOD
$35.9B
| $81K | ﹤0.01% |
2,770
| – | – |
2015 Q1
6 quarters
|
|
|
FCE.B
110
DELISTED
Forest City Realty Trust, Inc.
FCE.B
| $16K | ﹤0.01% |
702
| – | – |
2016 Q1
2 quarters
|
|
111
Broadridge
BR
$19B
| – | – |
-55,866
| Closed | -$3.64M | – |
|
112
EnerSys
ENS
$6.26B
| – | – |
-35,906
| Closed | -$2.13M | – |
|
|
113
General Motors
GM
$72.9B
| – | – |
-671,819
| Closed | -$19M | – |
|
114
Magnera Corp
MAGN
$377M
| – | – |
-3,584
| Closed | -$911K | – |
|
115
DELISTED
SEMGROUP CORPORATION
SEMG
| – | – |
-113,491
| Closed | -$3.69M | – |
|
116
DELISTED
TEJON RANCH CO WTS EXP 8/31/2016 (DE)
TRC.WS
| – | – |
-352,189
| Closed | – | – |
|
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Third Avenue Management's Q3 2016 Portfolio in Review
As of Q3 2016, Third Avenue Management held 116 positions worth $2.18B, down 3% from $2.25B the previous quarter. Its ten largest holdings account for 44% of the portfolio.
Third Avenue Management withdrew a net $203M in Q3 2016, closing 6 positions and reducing 54 holdings. Its most notable exit was General Motors, an estimated $19M position sold in full.
By sector, the portfolio is most concentrated in Real Estate at 29% of assets, down from 31% a quarter earlier, followed by Financials and Industrials.
Against the trend, Third Avenue Management opened a new position in Comfort Systems worth $4.75M.
- Third Avenue Management's largest Q3 2016 buy was Comfort Systems: 162,058 shares worth $4.75M.
- Third Avenue Management added most to Johnson Controls International in Q3 2016, an estimated $5.96M increase.
- Third Avenue Management's biggest Q3 2016 reduction was First Industrial Realty Trust, cutting an estimated $23.9M.
- Third Avenue Management fully exited General Motors in Q3 2016, selling an estimated $19M.
- Third Avenue Management's ten largest holdings make up 44% of its $2.18B portfolio in Q3 2016.
- Third Avenue Management opened 2 new positions and closed 6 in Q3 2016.
- Third Avenue Management's portfolio value fell 3% quarter-over-quarter to $2.18B.
Based on Third Avenue Management's 13F filing for Q3 2016, filed 14 Nov 2016.