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TAM

Third Avenue Management Portfolio holdings

AUM $616M
1-Year Est. Return 45.6%
This Fund
S&P 500
This Quarter Est. Return
-1.24%
1 Year Est. Return
+45.6%
3 Year Est. Return
+111.18%
5 Year Est. Return
+162.64%
10 Year Est. Return
+374.2%
AUM
$1.77B
AUM Growth
-$247M
Cap. Flow
-$215M
Cap. Flow %
-12.14%
Top 10 Hldgs %
55.33%
Holding
77
New
1
Increased
28
Reduced
21
Closed
4

Top Buys

Rank Stock Value
1
FPH icon
Five Point Holdings
FPH
+$17M
2
JBGS
JBG SMITH
JBGS
+$11.3M
3
HA
Hawaiian Holdings, Inc.
HA
+$6.96M
4
AHL
ASPEN Insurance Holding Limited
AHL
+$4.19M
5
HCC icon
Warrior Met Coal
HCC
+$3.58M

Top Sells

Rank Stock Value
1
FCE.A
Forest City Realty Trust, Inc.
FCE.A
+$169M
2
Y
Alleghany Corp
Y
+$40.7M
3
TRC icon
Tejon Ranch
TRC
+$13M
4
WY icon
Weyerhaeuser
WY
+$12.4M
5
FR icon
First Industrial Realty Trust
FR
+$9.07M

Sector Composition

Rank Sector Weight
1 Real Estate 36.9%
2 Financials 22.96%
3 Consumer Discretionary 14.35%
4 Industrials 9.2%
5 Materials 4.59%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
FNF icon
26
Fidelity National Financial
FNF
$13.9B
$21.4M 1.21%
566,719
+1,719
+0.3% +$65.5K
SRG
27
Seritage Growth Properties
SRG
$130M
$13.9M 0.79%
293,125
+1,825
+0.6% +$86.5K
FCN icon
28
FTI Consulting
FCN
$4.82B
$9.82M 0.55%
134,122
-46
-0% -$3.39K
MYRG icon
29
MYR Group
MYRG
$5.9B
$9.78M 0.55%
299,535
+15,987
+6% +$563K
CUB
30
DELISTED
Cubic Corporation
CUB
$9.68M 0.55%
132,450
– –
TTEK icon
31
Tetra Tech
TTEK
$8.23B
$8.99M 0.51%
658,365
-300
-0% -$3.97K
PB icon
32
Prosperity Bancshares
PB
$8.77B
$8.67M 0.49%
125,024
– –
ICFI icon
33
ICF International
ICFI
$1.44B
$8.51M 0.48%
112,787
-32,278
-22% -$2.48M
ATNI icon
34
ATN International
ATNI
$361M
$8.5M 0.48%
115,053
– –
SMHI icon
35
SEACOR Marine Holdings
SMHI
$216M
$8.1M 0.46%
357,909
+259
+0.1% +$5.68K
UMBF icon
36
UMB Financial
UMBF
$10.7B
$7.93M 0.45%
111,865
+30,253
+37% +$2.27M
CSW
37
CSW Industrials
CSW
$4.71B
$7.55M 0.43%
140,574
-9,774
-7% -$533K
CBSH icon
38
Commerce Bancshares
CBSH
$8.5B
$7.13M 0.4%
159,641
– –
TPH
39
DELISTED
Tri Pointe Homes
TPH
$7M 0.4%
564,113
+153,213
+37% +$2.27M
SBSI icon
40
Southside Bancshares
SBSI
$1.02B
$6.9M 0.39%
198,385
– –
KALU icon
41
Kaiser Aluminum
KALU
$2.67B
$6.84M 0.39%
62,678
– –
FCE.A
42
DELISTED
Forest City Realty Trust, Inc.
FCE.A
$6.43M 0.36%
256,418
-6,930,330
-96% -$169M
PRSU
43
Pursuit Attractions and Hospitality Inc
PRSU
$1.43B
$6.41M 0.36%
108,235
-293
-0.3% -$17.3K
CSGS
44
DELISTED
CSG Systems International
CSGS
$6.38M 0.36%
158,988
+28,445
+22% +$1.12M
FIX icon
45
Comfort Systems
FIX
$61B
$6.38M 0.36%
113,130
-21,567
-16% -$1.16M
CFR icon
46
Cullen/Frost Bankers
CFR
$10.3B
$6.35M 0.36%
60,800
– –
EME icon
47
Emcor
EME
$33.1B
$6.17M 0.35%
82,107
– –
SP
48
DELISTED
SP Plus Corporation
SP
$6.08M 0.34%
166,523
– –
VC icon
49
Visteon
VC
$2.77B
$5.69M 0.32%
61,260
+8,208
+15% +$949K
PNC icon
50
PNC Financial Services
PNC
$100B
$5.62M 0.32%
41,252
+3
+0% +$427
1
2
3 4

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Third Avenue Management's Q3 2018 Portfolio in Review

As of Q3 2018, Third Avenue Management held 77 positions worth $1.77B, down 12% from $2.02B the previous quarter. Its ten largest holdings account for 55% of the portfolio.

Third Avenue Management withdrew a net $215M in Q3 2018, closing 4 positions and reducing 21 holdings. Its most notable exit was Alleghany Corp, an estimated $40.7M position sold in full.

By sector, the portfolio is most concentrated in Real Estate at 37% of assets, down from 43% a quarter earlier, followed by Financials and Consumer Discretionary.

Against the trend, Third Avenue Management opened a new position in AdvanSix worth $2.6M.

  • Third Avenue Management's largest Q3 2018 buy was AdvanSix: 76,658 shares worth $2.6M.
  • Third Avenue Management added most to Five Point Holdings in Q3 2018, an estimated $17M increase.
  • Third Avenue Management's biggest Q3 2018 reduction was Forest City Realty Trust, Inc., cutting an estimated $169M.
  • Third Avenue Management fully exited Alleghany Corp in Q3 2018, selling an estimated $40.7M.
  • Third Avenue Management's ten largest holdings make up 55% of its $1.77B portfolio in Q3 2018.
  • Third Avenue Management opened 1 new position and closed 4 in Q3 2018.
  • Third Avenue Management's portfolio value fell 12% quarter-over-quarter to $1.77B.

Based on Third Avenue Management's 13F filing for Q3 2018, filed 9 Nov 2018.