Third Avenue Management Buys JBG SMITH Properties, Hawaiian Holdings Inc, Aspen Insurance Holdings, Sells Forest City Realty Trust Inc, Alleghany Corp, Tejon Ranch Co

• New Purchases: ASIX,
• Added Positions: FPH, JBGS, HA, AHL, ORIG, HCC, LEN.B, SAFM, UMBF, TPH,
• Reduced Positions: FCE.A, TRC, WY, FR, BK, ICFI, AMN, BAM, FIX, CCS,
• Sold Out: Y, ARCO, LM, DB,

For the details of Third Avenue Management's stock buys and sells, go to http://www.gurufocus.com/StockBuy.php?GuruName=Third+Avenue+Management

1. Brookfield Asset Management Inc (BAM) - 3,977,742 shares, 10% of the total portfolio. Shares reduced by 1.04%
2. Weyerhaeuser Co (WY) - 4,685,535 shares, 8.54% of the total portfolio. Shares reduced by 7.07%
3. Lennar Corp (LEN) - 2,629,208 shares, 6.93% of the total portfolio. Shares added by 0.08%
4. Five Point Holdings LLC (FPH) - 10,218,135 shares, 5.43% of the total portfolio. Shares added by 17.77%
5. Macerich Co (MAC) - 1,585,516 shares, 4.95% of the total portfolio. Shares added by 0.30%

Third Avenue Management initiated holding in AdvanSix Inc. The purchase prices were between $32.32 and $40.47, with an estimated average price of $35.91. The stock is now traded at around $27.20. The impact to a portfolio due to this purchase was 0.15%. The holding were 76,658 shares as of 2018-09-30.

Third Avenue Management added to a holding in JBG SMITH Properties by 95.59%. The purchase prices were between $35.12 and $37.81, with an estimated average price of $36.81. The stock is now traded at around $39.04. The impact to a portfolio due to this purchase was 0.64%. The holding were 629,885 shares as of 2018-09-30.

Third Avenue Management added to a holding in Hawaiian Holdings Inc by 43.95%. The purchase prices were between $36.05 and $43.95, with an estimated average price of $39.69. The stock is now traded at around $36.76. The impact to a portfolio due to this purchase was 0.4%. The holding were 574,199 shares as of 2018-09-30.

Third Avenue Management added to a holding in Aspen Insurance Holdings Ltd by 25.70%. The purchase prices were between $36.5 and $41.8, with an estimated average price of $39.93. The stock is now traded at around $41.84. The impact to a portfolio due to this purchase was 0.25%. The holding were 513,456 shares as of 2018-09-30.

Third Avenue Management added to a holding in Sanderson Farms Inc by 131.11%. The purchase prices were between $97.36 and $109.25, with an estimated average price of $103.31. The stock is now traded at around $104.09. The impact to a portfolio due to this purchase was 0.12%. The holding were 35,607 shares as of 2018-09-30.

Third Avenue Management added to a holding in UMB Financial Corp by 37.07%. The purchase prices were between $70.53 and $79.77, with an estimated average price of $75.14. The stock is now traded at around $65.43. The impact to a portfolio due to this purchase was 0.12%. The holding were 111,865 shares as of 2018-09-30.

Third Avenue Management added to a holding in TRI Pointe Group Inc by 37.29%. The purchase prices were between $12.4 and $17.4, with an estimated average price of $14.8. The stock is now traded at around $11.92. The impact to a portfolio due to this purchase was 0.11%. The holding were 564,113 shares as of 2018-09-30.

Third Avenue Management sold out a holding in Alleghany Corp. The sale prices were between $575.06 and $656.06, with an estimated average price of $625.32.

Third Avenue Management sold out a holding in Arcos Dorados Holdings Inc. The sale prices were between $6.1 and $7.45, with an estimated average price of $6.8.

Third Avenue Management sold out a holding in Legg Mason Inc. The sale prices were between $29.71 and $35.16, with an estimated average price of $32.33.

Third Avenue Management sold out a holding in Deutsche Bank AG. The sale prices were between $10.64 and $13.06, with an estimated average price of $11.74.