13F filing recap · Q1 2015

What did Third Avenue Management buy in Q1 2015?

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

$3.99B

Positions

133

Estimated turnover

14.1%

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

MACMacerich Co$53.05Mreported value+629.0K shares DORMDorman Products, Inc.$6.09Mreported value+122.5K shares ROSERosetta Resources Inc.$5.02Mreported value+294.7K shares ASNAAscena Retail Group Inc$4.05Mreported value+279.2K shares CIRCircor International Inc$2.36Mreported value+43.1K shares PPBIPacific Premier Bancorp, Inc.$894.0Kreported value+55.2K shares VODVodafone Group Public Ltd Co$110.0Kreported value+3.4K shares HTSHatteras Financial Corp$102.0Kreported value+5.6K shares VZVerizon Communications Inc$68.0Kreported value+1.4K shares FCE.BForest City Enterprises, Inc.$63.0Kreported value+2.5K shares

Increased positions

WYWeyerhaeuser Company$336.97Mreported value+863.5K shares+9.3%FCE.AForest City Enterprises, Inc.$170.07Mreported value+283.5K shares+4.4%CMAComerica Inc$142.01Mreported value+420.5K shares+15.4%BKDBrookdale Senior Living Inc.$124.19Mreported value+123.2K shares

Reduced positions

BAMBrookfield Corporation$153.21Mreported value-195.6K shares-6.4%BNYThe Bank of New York Mellon Corporation$147.79Mreported value-429.8K shares-10.5%CVCOCavco Industries, Inc.$115.64Mreported value-60.4K shares-3.8%DVNDevon Energy Corp/de$105.99Mreported value-17.2K shares

Exited positions

TGTTarget Corporation$57.21Mprior reported value-753.7K shares-100.0%HTHersha Hospitality Trust$25.18Mprior reported value-3.58M shares-100.0%PNKPinnacle Entertainment, Inc.$5.68Mprior reported value-255.2K shares-100.0%ERAEra Group Inc.$5.17Mprior reported value-244.5K shares