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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
+7.17%
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
$3.09B
AUM Growth
-$584M
Cap. Flow
-$726M
Cap. Flow %
-23.51%
Top 10 Hldgs %
45.6%
Holding
134
New
5
Increased
10
Reduced
85
Closed
26

Top Buys

1
BXLT
BAXALTA INC COM STK (DE)
BXLT
+$18.2M
2
KEX icon
Kirby Corp
KEX
+$11.4M
3
BMCH
BMC Stock Holdings, Inc
BMCH
+$3.54M
4
HERO
HERCULES OFFSHORE INC COM STK
HERO
+$3.23M
5
MYRG icon
MYR Group
MYRG
+$2.51M

Top Sells

1
WY icon
Weyerhaeuser
WY
+$80.2M
2
HOUS
Anywhere Real Estate
HOUS
+$63.6M
3
BKD icon
Brookdale Senior Living
BKD
+$59.4M
4
NVDA icon
NVIDIA
NVDA
+$42.8M
5
CVCO icon
Cavco Industries
CVCO
+$36.5M

Sector Composition

1 Real Estate 39.13%
2 Financials 22.93%
3 Consumer Discretionary 9.61%
4 Industrials 9.07%
5 Technology 3.45%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
FSD
126
DELISTED
FIRST TRUST HIGH INCOME LONG/SHORT FUND
FSD
– –
-841,294
Closed -$11.9M
CDR
127
DELISTED
Cedar Realty Trust, Inc
CDR
– –
-12,121
Closed -$497K
PSB
128
DELISTED
PS Business Parks, Inc.
PSB
– –
-6,100
Closed -$484K
NBL
129
DELISTED
Noble Energy, Inc.
NBL
– –
-122,223
Closed -$3.69M
RSTI
130
DELISTED
Rofin-Sinar Technologies Inc
RSTI
– –
-96,385
Closed -$2.5M
FCE.B
131
DELISTED
Forest City Realty Trust, Inc.
FCE.B
– –
-702
Closed -$15K
CYN
132
DELISTED
CITY NATIONAL CORPORATION
CYN
– –
-61,349
Closed -$5.4M
HCC
133
DELISTED
HCC INSURANCES HOLDINGS INC
HCC
– –
-187,613
Closed -$14.5M
MHY
134
DELISTED
WESTERN ASSET MANAGED HIGH INCOM FD INC. COM
MHY
– –
-1,025,669
Closed -$4.58M
2 3 4 5
6

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Third Avenue Management's Q4 2015 Portfolio in Review

As of Q4 2015, Third Avenue Management held 134 positions worth $3.09B, down 16% from $3.67B the previous quarter. Its ten largest holdings account for 46% of the portfolio.

Third Avenue Management withdrew a net $726M in Q4 2015, closing 26 positions and reducing 85 holdings. Its most notable exit was Anywhere Real Estate, an estimated $63.6M position sold in full.

By sector, the portfolio is most concentrated in Real Estate at 39% of assets, up from 38% a quarter earlier, followed by Financials and Consumer Discretionary.

Against the trend, Third Avenue Management opened a new position in BAXALTA INC COM STK (DE) worth $20.4M.

  • Third Avenue Management's largest Q4 2015 buy was BAXALTA INC COM STK (DE): 522,437 shares worth $20.4M.
  • Third Avenue Management added most to Designer Brands in Q4 2015, an estimated $1.77M increase.
  • Third Avenue Management's biggest Q4 2015 reduction was Weyerhaeuser, cutting an estimated $80.2M.
  • Third Avenue Management fully exited Anywhere Real Estate in Q4 2015, selling an estimated $63.6M.
  • Third Avenue Management's ten largest holdings make up 46% of its $3.09B portfolio in Q4 2015.
  • Third Avenue Management opened 5 new positions and closed 26 in Q4 2015.
  • Third Avenue Management's portfolio value fell 16% quarter-over-quarter to $3.09B.

Based on Third Avenue Management's 13F filing for Q4 2015, filed 12 Feb 2016.