Marty Whitman - Third Avenue Management 13F Activity & Position Changes (Q4 2016)

As of Dec 31, 2016, the Third Avenue Management portfolio activity showed several notable changes in holdings, according to the latest SEC 13F filing reported on May 13, 2026. The activity included new positions, additions to existing holdings, reductions, and complete exits, providing a clear view of how the portfolio evolved during the quarter.

During Q4 2016, the filing reported:

New Buys - Korn Ferry, Lennar Corporation, Quanex Building Products Corpor, Synaptics Incorporated, TriNet Group, Inc.

Increases - Amgen Inc., Commerce Bancshares, Inc., Genpact, Johnson Controls International , Kaiser Aluminum Corporation, and 5 more

Reductions - ABM Industries Incorporated, AGCO Corporation, Alico, Inc., Alamo Group, Inc., ANI Pharmaceuticals, Inc., and 55 more

Complete Exits - None reported

These updates highlight how the portfolio adjusted across different sectors and market conditions, offering insights into allocation shifts and investment trends.

Date	Symbol	Name	Type	Change Qty	% Change	Value	Remaining
Q4 2016	ABM ABM Industries Incorporated	ABM Industries Incorporated	Sell	-13,367	-12.9%	$3.67K	89,857
Q4 2016	AGCO AGCO Corporation	AGCO Corporation	Sell	-176,433	-32.0%	$21.68K	374,671
Q4 2016	ALCO Alico, Inc.	Alico, Inc.	Sell	-506	-0.4%	$3.51K	129,227
Q4 2016	ALG Alamo Group, Inc.	Alamo Group, Inc.	Sell	-10,296	-10.7%	$6.54K	86,006
Q4 2016	AMGN Amgen Inc.	Amgen Inc.	Buy	+76,036	+56.6%	$30.74K	210,262
Q4 2016	ANIP ANI Pharmaceuticals, Inc.	ANI Pharmaceuticals, Inc.	Sell	-120	-0.2%	$3.03K	49,933
Q4 2016	B Barnes Group, Inc.	Barnes Group, Inc.	Sell	-421	-0.4%	$4.94K	104,200
Q4 2016	BAM Brookfield Asset Management Inc	Brookfield Asset Management Inc	Sell	-100,638	-2.3%	$141.91K	4,299,141
Q4 2016	BK The Bank of New York Mellon Cor	The Bank of New York Mellon Cor	Sell	-274,936	-13.5%	$83.36K	1,759,465
Q4 2016	BKD Brookdale Senior Living Inc.	Brookdale Senior Living Inc.	Sell	-380,906	-15.8%	$25.14K	2,023,941
Q4 2016	CBSH Commerce Bancshares, Inc.	Commerce Bancshares, Inc.	Buy	+8,168	+4.6%	$10.71K	185,306
Q4 2016	CCS Century Communities, Inc.	Century Communities, Inc.	Sell	-15,000	-13.6%	$1.99K	94,974
Q4 2016	CFR Cullen/Frost Bankers, Inc.	Cullen/Frost Bankers, Inc.	Sell	-323	-0.4%	$7.24K	82,000
Q4 2016	CMA Comerica Incorporated	Comerica Incorporated	Sell	-507,189	-32.8%	$70.67K	1,037,604
Q4 2016	CNH CNH Industrial	CNH Industrial	Sell	-44,389	-8.3%	$4.26K	490,100
Q4 2016	CSGS CSG Systems International, Inc.	CSG Systems International, Inc.	Sell	-269	-0.4%	$3.25K	67,198
Q4 2016	DORM Dorman Products, Inc.	Dorman Products, Inc.	Sell	-18,190	-18.2%	$5.95K	81,500
Q4 2016	DVN Devon Energy Corporation	Devon Energy Corporation	Sell	-5,587	-0.7%	$34.91K	764,345
Q4 2016	EME EMCOR Group, Inc.	EMCOR Group, Inc.	Sell	-39,580	-31.1%	$6.20K	87,607
Q4 2016	FCN FTI Consulting, Inc.	FTI Consulting, Inc.	Sell	-13,143	-8.6%	$6.33K	140,392
Q4 2016	FIX Comfort Systems USA, Inc.	Comfort Systems USA, Inc.	Sell	-683	-0.4%	$5.37K	161,375
Q4 2016	FLWS 1-800-FLOWERS.COM, Inc.	1-800-FLOWERS.COM, Inc.	Sell	-33,740	-6.3%	$5.37K	501,564
Q4 2016	FNF FNF Group of Fidelity National	FNF Group of Fidelity National	Sell	-27,900	-4.0%	$22.57K	664,500
Q4 2016	FR First Industrial Realty Trust,	First Industrial Realty Trust,	Sell	-448,600	-19.9%	$50.57K	1,802,943
Q4 2016	G Genpact	Genpact	Buy	+13,470	+6.5%	$5.39K	221,666
Q4 2016	G0457F107 Arcos Dorados	Arcos Dorados	Sell	-22,927	-1.9%	$6.28K	1,163,100
Q4 2016	G9618E107 White Mountains	White Mountains	Sell	-2,010	-3.0%	$53.58K	64,091
Q4 2016	GIII G-III Apparel Group, LTD.	G-III Apparel Group, LTD.	Sell	-617	-0.4%	$4.21K	142,601
Q4 2016	ICFI ICF International, Inc.	ICF International, Inc.	Sell	-33,307	-19.7%	$7.47K	135,422
Q4 2016	JCI Johnson Controls International	Johnson Controls International	Buy	+9,981	+1.4%	$29.48K	715,724

Page 1 of 3