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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
-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
Cap. Flow
+$141M
Cap. Flow %
3.85%
Top 10 Hldgs %
42.02%
Holding
142
New
13
Increased
44
Reduced
42
Closed
13
Avg Time Held
6.4 quarters
Top 10 Avg Time Held
5.1 quarters
Top 20 Avg Time Held
5.5 quarters

Top Buys

Rank Stock Value
1
BKD icon
Brookdale Senior Living
BKD
+$71M
2
AXE
Anixter International Inc
AXE
+$37.5M
3
WY icon
Weyerhaeuser
WY
+$21.7M
4
KW icon
Kennedy-Wilson Holdings
KW
+$18.4M
5
MAC icon
Macerich
MAC
+$18.4M

Top Sells

Rank Stock Value
1
DVN icon
Devon Energy
DVN
+$19.9M
2
NVDA icon
NVIDIA
NVDA
+$18.1M
3
CMA icon
Comerica
CMA
+$17.4M
4
WTM icon
White Mountains Insurance
WTM
+$15.1M
5
PKX icon
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
WY icon
1
Weyerhaeuser
WY
$13.5B
$323M 8.79%
11,805,135
+735,671
+7% +$21.7M
2013 Q2
9 quarters
FCE.A
2
DELISTED
Forest City Realty Trust, Inc.
FCE.A
$163M 4.44%
8,101,985
+537,137
+7% +$11.8M
2013 Q2
9 quarters
FR icon
3
First Industrial Realty Trust
FR
$7.92B
$158M 4.29%
7,528,218
+912,700
+14% +$18.4M
2013 Q2
9 quarters
MAC icon
4
Macerich
MAC
$6.36B
$150M 4.09%
1,953,426
+237,200
+14% +$18.4M
2015 Q1
2 quarters
BN icon
5
Brookfield
BN
$82.1B
$144M 3.93%
13,065,481
+1,268,484
+11% +$14.8M
2013 Q2
9 quarters
BKD icon
6
Brookdale Senior Living
BKD
$2.43B
$135M 3.67%
5,867,732
+2,404,007
+69% +$71M
2013 Q2
9 quarters
BNY icon
7
Bank of New York Mellon
BNY
$95.9B
$124M 3.36%
3,156,638
-193,799
-6% -$8.06M
2013 Q2
9 quarters
RYN icon
8
Rayonier
RYN
$5.6B
$122M 3.32%
6,094,308
+377,954
+7% +$8.18M
2013 Q4
7 quarters
VNO icon
9
Vornado Realty Trust
VNO
$6.37B
$119M 3.24%
1,628,919
+217,094
+15% +$16.4M
2013 Q2
9 quarters
CMA icon
10
DELISTED
Comerica
CMA
$107M 2.9%
2,591,334
-381,844
-13% -$17.4M
2013 Q2
9 quarters
EQC icon
11
DELISTED
Equity Commonwealth
EQC
$101M 2.75%
3,708,155
+62,400
+2% +$1.65M
2013 Q2
9 quarters
CVCO icon
12
Cavco Industries
CVCO
$4.06B
$94.5M 2.57%
1,387,781
-38,642
-3% -$2.8M
2013 Q2
9 quarters
LOW icon
13
Lowe's Companies
LOW
$105B
$88.9M 2.42%
1,290,176
+17,200
+1% +$1.18M
2013 Q2
9 quarters
AGCO icon
14
AGCO
AGCO
$7.4B
$85.7M 2.33%
1,837,243
-65,971
-3% -$3.38M
2014 Q2
5 quarters
WTM icon
15
White Mountains Insurance
WTM
$4.99B
$82.1M 2.24%
109,906
-20,961
-16% -$15.1M
2013 Q2
9 quarters
ZION icon
16
Zions Bancorporation
ZION
$9.07B
$80.8M 2.2%
2,934,458
+41,400
+1% +$1.23M
2014 Q3
4 quarters
PPS
17
DELISTED
Post Properties
PPS
$78.2M 2.13%
1,341,014
+19,000
+1% +$1.09M
2013 Q2
9 quarters
SKT icon
18
Tanger
SKT
$4.02B
$75.4M 2.05%
2,287,753
+27,100
+1% +$882K
2013 Q3
8 quarters
CVA
19
DELISTED
Covanta Holding Corporation
CVA
$74.9M 2.04%
4,294,744
+25,106
+0.6% +$497K
2013 Q2
9 quarters
PNC icon
20
PNC Financial Services
PNC
$87.6B
$64.4M 1.75%
722,399
+124,779
+21% +$11.7M
2014 Q3
4 quarters
HOUS icon
21
DELISTED
Anywhere Real Estate
HOUS
$63.6M 1.73%
1,689,009
+23,200
+1% +$1.01M
2014 Q2
5 quarters
PARA icon
22
DELISTED
Paramount Global Class B
PARA
$62.2M 1.69%
1,559,106
+259,322
+20% +$12.6M
2014 Q3
4 quarters
PNC.WS icon
23
DELISTED
PNC Financial Services Group Inc
PNC.WS
$60.5M 1.65%
2,487,754
+505,200
+25% +$14.1M
2013 Q2
9 quarters
GEN icon
24
Gen Digital
GEN
$14.2B
$56.4M 1.54%
2,899,118
-36,690
-1% -$790K
2013 Q2
9 quarters
GM icon
25
General Motors
GM
$73.1B
$56.1M 1.53%
1,868,285
-61,499
-3% -$1.88M
2013 Q2
9 quarters
1
2 3 4 5

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LWP
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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.