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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
+7.17%
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
$3.09B
AUM Growth
-$584M
(-16%)
Cap. Flow
-$726M
Cap. Flow
% of AUM
-23.51%
Top 10 Holdings %
Top 10 Hldgs %
45.6%
Holding
134
New
5
Increased
10
Reduced
85
Closed
26
Avg Time Held
1.7
years
Top 10 Avg Time Held
1.4
years
Top 20 Avg Time Held
1.4
years
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
BXLT
BAXALTA INC COM STK (DE)
BXLT
|
+$18.2M |
| 2 |
Kirby Corp
KEX
|
+$11.4M |
| 3 |
BMCH
BMC Stock Holdings, Inc
BMCH
|
+$3.54M |
| 4 |
HERCULES OFFSHORE INC COM STK
HERO
|
+$3.23M |
| 5 |
MYR Group
MYRG
|
+$2.51M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Weyerhaeuser
WY
|
+$80.2M |
| 2 |
Anywhere Real Estate
HOUS
|
+$63.6M |
| 3 |
Brookdale Senior Living
BKD
|
+$59.4M |
| 4 |
NVIDIA
NVDA
|
+$42.8M |
| 5 |
Cavco Industries
CVCO
|
+$36.5M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Real Estate | 39.13% |
| 2 | Financials | 22.93% |
| 3 | Consumer Discretionary | 9.69% |
| 4 | Industrials | 9.19% |
| 5 | Technology | 3.45% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
|
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 | – |
|
132
DELISTED
CITY NATIONAL CORPORATION
CYN
| – | – |
-61,349
| Closed | -$5.4M | – |
|
133
DELISTED
HCC INSURANCES HOLDINGS INC
HCC
| – | – |
-187,613
| Closed | -$14.5M | – |
|
134
DELISTED
WESTERN ASSET MANAGED HIGH INCOM FD INC. COM
MHY
| – | – |
-1,025,669
| Closed | -$4.58M | – |
|
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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.