13F filing recap · Q2 2016

What did Third Avenue Management buy in Q2 2016?

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

$2.25B

Positions

114

Estimated turnover

26.3%

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

JCIJohnson Controls International Plc$26.75Mreported value+604.5K shares AMGNAmgen Inc.$20.64Mreported value+135.6K shares LIVNLivanova Plc$13.46Mreported value+268.0K shares SHPGShire Plc$8.81Mreported value+47.8K shares NTCTNetscout Systems, Inc.$6.01Mreported value+270.3K shares GIIIG III Apparel Group Ltd /de/$4.08Mreported value+89.4K shares FRGIFiesta Restaurant Group Inc$2.50Mreported value+114.4K shares NXRTNexpoint Residential Trust, Inc.$455.0Kreported value+25.0K shares

Increased positions

HARHarman International Industries Inc.$28.78Mreported value+121.5K shares+43.5%RLRalph Lauren Corporation$24.63Mreported value+46.0K shares+20.1%WCICWci Communities Inc$8.88Mreported value+85.8K shares+19.5%CUBCubic Corporation$6.92Mreported value+14.9K shares

Reduced positions

WYWeyerhaeuser Company$196.79Mreported value-736.9K shares-10.0%BAMBrookfield Corporation$151.79Mreported value-147.0K shares-3.1%FCE.AForest City Realty Trust, Inc.$121.02Mreported value-237.2K shares-4.2%RYNRayonier Inc.$101.93Mreported value-211.5K shares

Exited positions

EQCEquity Commonwealth$51.59Mprior reported value-1.83M shares-100.0%PPSPost Properties, Inc.$47.71Mprior reported value-798.6K shares-100.0%SYMCSymantec Corporation$27.77Mprior reported value-1.51M shares-100.0%HHCHoward Hughes Holdings Inc.$24.95Mprior reported value-235.6K shares