13F filing recap · Q4 2014

What did Third Avenue Management buy in Q4 2014?

Reported stock-position changes between this filing and the previous one. US-listed stocks across every Third Avenue account, including accounts that belong to no fund below.

Stock value

$3.97B

Positions

139

Estimated turnover

39.5%

Turnover is a proxy: verified trade-origin share changes valued at period-end and divided by average reported stock value. SEC holdings reports do not disclose execution dates or prices. Corporate actions and unreconciled activity are excluded.

New positions

VMIValmont Industries Inc$23.11Mreported value+182.0K shares BBarnes Group Inc$9.78Mreported value+264.3K shares PRSUPursuit Attractions & Hospitality, Inc.$2.62Mreported value+98.3K shares IDPKIndependence Bank$1.13Mreported value+76.9K shares VOYAVoya Financial, Inc.$848.0Kreported value+20.0K shares POWLPowell Industries, Inc.$523.0Kreported value+10.7K shares DSTDst Systems Inc$282.0Kreported value+3.0K shares WLKWestlake Corporation$275.0Kreported value+4.5K shares TTETotalenergies SE$215.0Kreported value+4.2K shares

Increased positions

BAMBrookfield Corporation$153.07Mreported value+19.2K shares+0.6%FCE.AForest City Enterprises, Inc.$135.91Mreported value+97.1K shares+1.5%CMAComerica Inc$127.69Mreported value+261.9K shares+10.6%BKDBrookdale Senior Living Inc.$116.09Mreported value+609.6K shares

Reduced positions

WYWeyerhaeuser Company$333.83Mreported value-420.9K shares-4.3%BNYThe Bank of New York Mellon Corporation$166.44Mreported value-389.3K shares-8.7%CVCOCavco Industries, Inc.$126.92Mreported value-116.4K shares-6.8%PKXPosco Holdings Inc.$113.68Mreported value-146.0K shares

Exited positions

IDCCInterdigital, Inc.$25.81Mprior reported value-648.3K shares-100.0%AXLLAxiall Corporation$23.32Mprior reported value-651.2K shares-100.0%WHGWestwood Holdings Group Inc.$17.89Mprior reported value-315.6K shares-100.0%USTRUnited Stationers Inc$17.12Mprior reported value-455.7K shares