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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
(-7.6%)
Cap. Flow
+$141M
Cap. Flow
% of AUM
3.85%
Top 10 Holdings %
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 |
Brookdale Senior Living
BKD
|
+$71M |
| 2 |
AXE
Anixter International Inc
AXE
|
+$37.5M |
| 3 |
Weyerhaeuser
WY
|
+$21.7M |
| 4 |
Kennedy-Wilson Holdings
KW
|
+$18.4M |
| 5 |
Macerich
MAC
|
+$18.4M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Devon Energy
DVN
|
+$19.9M |
| 2 |
NVIDIA
NVDA
|
+$18.1M |
| 3 |
Comerica
CMA
|
+$17.4M |
| 4 |
White Mountains Insurance
WTM
|
+$15.1M |
| 5 |
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 | |
|---|---|---|---|---|---|---|---|
126
TotalEnergies
TTE
$196B
| $137K | ﹤0.01% |
3,056
| – | – |
2014 Q4
3 quarters
|
|
127
Vodafone
VOD
$36.6B
| $74K | ﹤0.01% |
2,326
| – | – |
2015 Q1
2 quarters
|
|
128
DELISTED
TEJON RANCH CO WTS EXP 8/31/2016 (DE)
TRC.WS
| $57K | ﹤0.01% |
357,332
-2,000
| -0.6% | -$714 |
2013 Q3
8 quarters
|
|
|
FCE.B
129
DELISTED
Forest City Realty Trust, Inc.
FCE.B
| $15K | ﹤0.01% |
702
-1,750
| -71% | -$38.1K |
2015 Q1
2 quarters
|
|
130
Enerpac Tool Group
EPAC
$1.78B
| – | – |
-257,877
| Closed | -$5.95M | – |
|
131
Forestar Group
FOR
$1.31B
| – | – |
-151,436
| Closed | -$1.99M | – |
|
132
Annaly Capital Management
NLY
$14B
| – | – |
-3,304
| Closed | -$121K | – |
|
133
SunCoke Energy
SXC
$856M
| – | – |
-421,206
| Closed | -$5.48M | – |
|
134
DELISTED
Encore Wire Corp
WIRE
| – | – |
-30,842
| Closed | -$1.37M | – |
|
|
EPE
135
DELISTED
EP Energy Corporation
EPE
| – | – |
-328,445
| Closed | -$4.18M | – |
|
|
BRS
136
DELISTED
Bristow Group, Inc.
BRS
| – | – |
-64,243
| Closed | -$3.42M | – |
|
|
HTS
137
DELISTED
HATTERAS FINANCIAL CORP
HTS
| – | – |
-5,630
| Closed | -$92K | – |
|
|
EXL
138
DELISTED
EXCEL TRUST , INC COM STK
EXL
| – | – |
-38,890
| Closed | -$613K | – |
|
|
ROSE
139
DELISTED
ROSETTA RESOURCES INC
ROSE
| – | – |
-286,017
| Closed | -$6.62M | – |
|
|
DHG
140
DELISTED
Deutsche High Incm Opportunities
DHG
| – | – |
-309,656
| Closed | -$4.52M | – |
|
|
CMO
141
DELISTED
Capstead Mortgage Corp.
CMO
| – | – |
-12,500
| Closed | -$139K | – |
|
|
CKH
142
DELISTED
Seacor Holdings Inc.
CKH
| – | – |
-66,284
| Closed | -$4.55M | – |
|
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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.