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TAM

Third Avenue Management Portfolio holdings

AUM $625M
1-Year Est. Return 48.93%
This Fund
S&P 500
This Quarter Est. Return
-19.89%
1 Year Est. Return
+48.93%
3 Year Est. Return
+112.7%
5 Year Est. Return
+169.82%
10 Year Est. Return
+390.58%
AUM
$1.24B
AUM Growth
-$533M
Cap. Flow
-$218M
Cap. Flow %
-17.63%
Top 10 Hldgs %
58.07%
Holding
78
New
5
Increased
24
Reduced
16
Closed
17
Avg Time Held
12 quarters
Top 10 Avg Time Held
7.8 quarters
Top 20 Avg Time Held
8.9 quarters

Top Buys

Rank Stock Value
1
PNC icon
PNC Financial Services
PNC
+$30.8M
2
HA icon
Hawaiian Holdings, Inc.
HA
+$21M
3
RIG icon
Transocean
RIG
+$15.4M
4
DD icon
DuPont de Nemours
DD
+$14.2M
5
CUBI icon
Customers Bancorp
CUBI
+$10.4M

Top Sells

Rank Stock Value
1
PNC.WS icon
PNC Financial Services Group Inc
PNC.WS
+$61.8M
2
BN icon
Brookfield
BN
+$52.9M
3
BNY icon
Bank of New York Mellon
BNY
+$33.2M
4
ORIG
Ocean Rig UDW Inc. Class A Common Shares
ORIG
+$32.4M
5
ZION icon
Zions Bancorporation
ZION
+$28.3M

Sector Composition

Rank Sector Weight
1 Real Estate 40.42%
2 Financials 18.43%
3 Consumer Discretionary 15.88%
4 Industrials 10.6%
5 Materials 7.09%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow Held Since
UMBF icon
26
UMB Financial
UMBF
$9.88B
$9.2M 0.74%
150,823
+38,958
+35% +$2.53M
2013 Q2
22 quarters
MYRG icon
27
MYR Group
MYRG
$4.81B
$9.06M 0.73%
321,485
+21,950
+7% +$679K
2015 Q4
12 quarters
FCN icon
28
FTI Consulting
FCN
$3.81B
$8.94M 0.72%
134,122
– –
2013 Q3
21 quarters
ATNI icon
29
ATN International
ATNI
$399M
$8.23M 0.67%
115,053
– –
2018 Q2
2 quarters
ICFI icon
30
ICF International
ICFI
$1.57B
$7.31M 0.59%
112,787
– –
2013 Q2
22 quarters
PB icon
31
Prosperity Bancshares
PB
$7.97B
$6.91M 0.56%
110,885
-14,139
-11% -$933K
2014 Q1
19 quarters
TPH icon
32
DELISTED
Tri Pointe Homes
TPH
$6.62M 0.54%
605,957
+41,844
+7% +$495K
2017 Q1
7 quarters
SBSI icon
33
Southside Bancshares
SBSI
$906M
$6.3M 0.51%
198,385
– –
2015 Q3
13 quarters
TTEK icon
34
Tetra Tech
TTEK
$8.59B
$6.2M 0.5%
598,985
-59,380
-9% -$736K
2013 Q2
22 quarters
SAFM
35
DELISTED
Sanderson Farms Inc
SAFM
$6.07M 0.49%
61,074
+25,467
+72% +$2.6M
2018 Q2
2 quarters
CUB icon
36
DELISTED
Cubic Corporation
CUB
$5.92M 0.48%
110,144
-22,306
-17% -$1.41M
2013 Q2
22 quarters
VC icon
37
Visteon
VC
$2.31B
$5.84M 0.47%
96,898
+35,638
+58% +$2.69M
2015 Q3
13 quarters
FRPH icon
38
FRP Holdings
FRPH
$384M
$5.71M 0.46%
247,974
+175,552
+242% +$4.37M
2018 Q1
3 quarters
SEB icon
39
Seaboard Corp
SEB
$3.8B
$5.7M 0.46%
1,610
+193
+14% +$712K
2016 Q1
11 quarters
KALU icon
40
Kaiser Aluminum
KALU
$2.48B
$5.6M 0.45%
62,678
– –
2013 Q2
22 quarters
ASIX icon
41
AdvanSix
ASIX
$449M
$5.57M 0.45%
228,743
+152,085
+198% +$4.22M
2018 Q3
1 quarter
PRSU icon
42
Pursuit Attractions and Hospitality Inc
PRSU
$1.47B
$5.42M 0.44%
108,235
– –
2014 Q4
16 quarters
CFR icon
43
Cullen/Frost Bankers
CFR
$9.42B
$5.35M 0.43%
60,800
– –
2013 Q2
22 quarters
FIX icon
44
Comfort Systems
FIX
$57.2B
$4.94M 0.4%
113,130
– –
2016 Q3
9 quarters
EME icon
45
Emcor
EME
$34.2B
$4.9M 0.4%
82,107
– –
2013 Q2
22 quarters
G icon
46
Genpact
G
$5.89B
$4.38M 0.35%
162,066
– –
2014 Q1
19 quarters
UNF icon
47
Unifirst Corp
UNF
$4.67B
$4.29M 0.35%
30,002
– –
2013 Q2
22 quarters
SMHI icon
48
SEACOR Marine Holdings
SMHI
$235M
$4.21M 0.34%
358,011
+102
+0% +$1.81K
2018 Q1
3 quarters
ALCO icon
49
Alico
ALCO
$284M
$4.14M 0.33%
140,451
– –
2013 Q2
22 quarters
DORM icon
50
Dorman Products
DORM
$3.66B
$3.92M 0.32%
43,600
– –
2015 Q1
15 quarters
1
2
3 4

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Third Avenue Management's Q4 2018 Portfolio in Review

As of Q4 2018, Third Avenue Management held 78 positions worth $1.24B, down 30% from $1.77B the previous quarter. Its ten largest holdings account for 58% of the portfolio.

Third Avenue Management withdrew a net $218M in Q4 2018, closing 17 positions and reducing 16 holdings. Its most notable exit was PNC Financial Services Group Inc, an estimated $61.8M position sold in full.

By sector, the portfolio is most concentrated in Real Estate at 40% of assets, up from 37% a quarter earlier, followed by Financials and Consumer Discretionary.

Against the trend, Third Avenue Management opened a new position in Transocean worth $10.5M.

  • Third Avenue Management's largest Q4 2018 buy was Transocean: 1,510,628 shares worth $10.5M.
  • Third Avenue Management added most to PNC Financial Services in Q4 2018, an estimated $30.8M increase.
  • Third Avenue Management's biggest Q4 2018 reduction was Brookfield, cutting an estimated $52.9M.
  • Third Avenue Management fully exited PNC Financial Services Group Inc in Q4 2018, selling an estimated $61.8M.
  • Third Avenue Management's ten largest holdings make up 58% of its $1.24B portfolio in Q4 2018.
  • Third Avenue Management opened 5 new positions and closed 17 in Q4 2018.
  • Third Avenue Management's portfolio value fell 30% quarter-over-quarter to $1.24B.

Based on Third Avenue Management's 13F filing for Q4 2018, filed 13 Feb 2019.