13F filing recap · Q4 2019

What did Third Avenue Management buy in Q4 2019?

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

$1.01B

Positions

Estimated turnover

19.8%

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

HHCHoward Hughes Holdings Inc.$14.30Mreported value+112.8K shares SPYSPDR S&P 500 ETF Trust$1.08Mreported value+3.4K shares

Increased positions

FPHFive Point Holdings, LLC$81.41Mreported value+689.0K shares+6.2%TDWTidewater Inc$53.11Mreported value+17.2K shares+0.6%HCCWarrior Met Coal, Inc.$37.81Mreported value+19.5K shares+1.1%MACMacerich Co$37.07Mreported value+259.1K shares

Reduced positions

WYWeyerhaeuser Company$79.88Mreported value-553.5K shares-17.3%BAMBrookfield Corporation$62.18Mreported value-507.8K shares-32.1%LEN.BLennar Corp /new/$50.53Mreported value-144.7K shares-11.4%LENLennar Corp /new/$49.46Mreported value-62.1K shares

Exited positions

LOWLowe’s Companies, Inc.$23.89Mprior reported value-217.3K shares-100.0%TRCTejon Ranch Co$11.64Mprior reported value-686.1K shares-100.0%