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TAM

Third Avenue Management Portfolio holdings

AUM $625M
1-Year Est. Return 48.93%
This Fund
S&P 500
This Quarter Est. Return
-2.19%
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
$3.97B
AUM Growth
-$15M
Cap. Flow
+$92.3M
Cap. Flow %
2.32%
Top 10 Hldgs %
39.43%
Holding
141
New
8
Increased
30
Reduced
37
Closed
12

Top Buys

Rank Stock Value
1
MAC icon
Macerich
MAC
+$88.1M
2
RYN icon
Rayonier
RYN
+$46.4M
3
MAS icon
Masco
MAS
+$46.3M
4
VNO icon
Vornado Realty Trust
VNO
+$35.3M
5
WY icon
Weyerhaeuser
WY
+$29.1M

Top Sells

Rank Stock Value
1
SFR
Starwood Waypoint Homes
SFR
+$68.3M
2
VMI icon
Valmont Industries
VMI
+$23M
3
KEY icon
KeyCorp
KEY
+$18.2M
4
BNY
Bank of New York Mellon
BNY
+$13.7M
5
DVN icon
Devon Energy
DVN
+$13.2M

Sector Composition

Rank Sector Weight
1 Real Estate 33.57%
2 Financials 23.73%
3 Consumer Discretionary 8.7%
4 Industrials 8.42%
5 Energy 5.13%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
WY icon
1
Weyerhaeuser
WY
$17B
$349M 8.77%
11,069,464
+904,437
+9% +$29.1M
FCE.A
2
DELISTED
Forest City Realty Trust, Inc.
FCE.A
$167M 4.21%
7,564,848
+900,789
+14% +$21.3M
CMA
3
DELISTED
Comerica
CMA
$153M 3.84%
2,973,178
-173,472
-6% -$8.45M
BN icon
4
Brookfield
BN
$92.3B
$145M 3.64%
11,796,997
-410,145
-3% -$5.22M
BNY
5
Bank of New York Mellon
BNY
$110B
$141M 3.54%
3,350,437
-322,287
-9% -$13.7M
RYN icon
6
Rayonier
RYN
$6.06B
$133M 3.33%
5,716,354
+1,977,287
+53% +$46.4M
MAC icon
7
Macerich
MAC
$6.73B
$128M 3.22%
1,716,226
+1,087,200
+173% +$88.1M
FR icon
8
First Industrial Realty Trust
FR
$8.21B
$124M 3.12%
6,615,518
+1,142,400
+21% +$22.8M
BKD icon
9
Brookdale Senior Living
BKD
$2.8B
$120M 3.02%
3,463,725
+174,736
+5% +$6.44M
VNO icon
10
Vornado Realty Trust
VNO
$7.13B
$108M 2.73%
1,411,825
+425,528
+43% +$35.3M
AGCO icon
11
AGCO
AGCO
$7.94B
$108M 2.72%
1,903,214
-12,866
-0.7% -$653K
CVCO icon
12
Cavco Industries
CVCO
$4.37B
$108M 2.71%
1,426,423
-114,241
-7% -$8.19M
EQC
13
DELISTED
Equity Commonwealth
EQC
$93.6M 2.35%
3,645,755
+13,400
+0.4% +$349K
DVN icon
14
Devon Energy
DVN
$52.1B
$92.4M 2.33%
1,553,359
-204,120
-12% -$13.2M
PKX icon
15
POSCO
PKX
$18.2B
$92.4M 2.32%
1,881,689
-19,917
-1% -$1.11M
ZION icon
16
Zions Bancorporation
ZION
$9.89B
$91.8M 2.31%
2,893,058
+4,100
+0.1% +$121K
CVA
17
DELISTED
Covanta Holding Corporation
CVA
$90.5M 2.28%
4,269,638
-29,652
-0.7% -$648K
APA icon
18
APA Corp
APA
$14.9B
$89.6M 2.25%
1,554,224
-109,364
-7% -$6.89M
WTM icon
19
White Mountains Insurance
WTM
$5.1B
$85.7M 2.16%
130,867
-19,103
-13% -$12.7M
LOW icon
20
Lowe's Companies
LOW
$117B
$85.3M 2.15%
1,272,976
+5,400
+0.4% +$385K
HOUS
21
DELISTED
Anywhere Real Estate
HOUS
$77.8M 1.96%
1,665,809
+7,100
+0.4% +$330K
PARA
22
DELISTED
Paramount Global Class B
PARA
$72.1M 1.82%
1,299,784
-3,813
-0.3% -$230K
PPS
23
DELISTED
Post Properties
PPS
$71.9M 1.81%
1,322,014
+5,700
+0.4% +$321K
SKT icon
24
Tanger
SKT
$4.33B
$71.7M 1.8%
2,260,653
+9,000
+0.4% +$305K
GEN icon
25
Gen Digital
GEN
$18.6B
$68.3M 1.72%
2,935,808
-25,158
-0.8% -$614K
1
2 3 4 5

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Third Avenue Management's Q2 2015 Portfolio in Review

As of Q2 2015, Third Avenue Management held 141 positions worth $3.97B, down 0.38% from $3.99B the previous quarter. Its ten largest holdings account for 39% of the portfolio.

Third Avenue Management's Q2 2015 filing shows 8 new, 30 increased, 37 reduced and 12 closed positions. Its largest new stake was Masco: 1,955,858 shares worth $45.8M. The largest sale was Starwood Waypoint Homes, an estimated $68.3M.

By sector, the portfolio is most concentrated in Real Estate at 34% of assets, up from 32% a quarter earlier, followed by Financials and Consumer Discretionary.

  • Third Avenue Management's largest Q2 2015 buy was Masco: 1,955,858 shares worth $45.8M.
  • Third Avenue Management added most to Macerich in Q2 2015, an estimated $88.1M increase.
  • Third Avenue Management's biggest Q2 2015 reduction was Valmont Industries, cutting an estimated $23M.
  • Third Avenue Management fully exited Starwood Waypoint Homes in Q2 2015, selling an estimated $68.3M.
  • Third Avenue Management's ten largest holdings make up 39% of its $3.97B portfolio in Q2 2015.
  • Third Avenue Management opened 8 new positions and closed 12 in Q2 2015.
  • Third Avenue Management's portfolio value fell 0.38% quarter-over-quarter to $3.97B.

Based on Third Avenue Management's 13F filing for Q2 2015, filed 14 Aug 2015.