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

According to the SEC 13F filed on Aug 12, 2026, the Third Avenue Management portfolio showed several notable changes in holdings as of quarter-end Dec 31, 2016. 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