13F filing recap · Q4 2017

What did Third Avenue Management buy in Q4 2017?

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

$2.08B

Positions

Estimated turnover

22.8%

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

UHALU-Haul Holding Company$20.89Mreported value+55.3K shares HCCWarrior Met Coal, Inc.$17.26Mreported value+686.4K shares AHLAspen Insurance Holdings Ltd$6.44Mreported value+158.7K shares

Increased positions

BAMBrookfield Corporation$187.36Mreported value+2.4K shares+0.1%FCE.AForest City Realty Trust, Inc.$137.09Mreported value+828.3K shares+17.0%MACMacerich Co$55.82Mreported value+2.1K shares+0.3%TRCTejon Ranch Co$55.10Mreported value+442.3K shares

Reduced positions

WYWeyerhaeuser Company$187.73Mreported value-311.7K shares-5.5%LENLennar Corp /new/$166.03Mreported value-243.8K shares-8.5%RYNRayonier Inc.$96.42Mreported value-314.0K shares-9.3%PNC.WSThe Pnc Financial Services Group, Inc.$69.66Mreported value-290.6K shares

Exited positions

CERNCerner Corporation$29.15Mprior reported value-408.7K shares-100.0%PKYParkway, Inc.$24.20Mprior reported value-1.05M shares-100.0%DVNDevon Energy Corp/de$22.69Mprior reported value-618.0K shares-100.0%CBSCbs Corp$20.49Mprior reported value-353.3K shares