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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
+15.2%
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
$1.29B
AUM Growth
+$55M
Cap. Flow
-$153M
Cap. Flow %
-11.87%
Top 10 Hldgs %
56.98%
Holding
65
New
4
Increased
14
Reduced
29
Closed
6

Top Buys

Rank Stock Value
1
JBGS
JBG SMITH
JBGS
+$26.6M
2
EXP icon
Eagle Materials
EXP
+$12.7M
3
MHK icon
Mohawk Industries
MHK
+$11.6M
4
CARE icon
Carter Bankshares
CARE
+$6.42M
5
HA
Hawaiian Holdings, Inc.
HA
+$5.05M

Top Sells

Rank Stock Value
1
BN icon
Brookfield
BN
+$44M
2
LEN icon
Lennar Class A
LEN
+$28.3M
3
VNO icon
Vornado Realty Trust
VNO
+$26.1M
4
HCC icon
Warrior Met Coal
HCC
+$17.9M
5
AKR icon
Acadia Realty Trust
AKR
+$14.4M

Sector Composition

Rank Sector Weight
1 Real Estate 41.07%
2 Consumer Discretionary 17.04%
3 Financials 16.72%
4 Industrials 11.21%
5 Materials 6.21%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
CUBI icon
26
Customers Bancorp
CUBI
$2.65B
$11.4M 0.88%
519,152
+39
+0% +$778
MYRG icon
27
MYR Group
MYRG
$4.58B
$10.8M 0.84%
321,485
– –
UMBF icon
28
UMB Financial
UMBF
$11B
$10.7M 0.82%
150,823
– –
FCN icon
29
FTI Consulting
FCN
$4.25B
$9.05M 0.7%
110,343
-23,779
-18% -$1.68M
VC icon
30
Visteon
VC
$2.72B
$8.52M 0.66%
136,115
+39,217
+40% +$2.95M
ICFI icon
31
ICF International
ICFI
$1.62B
$8.5M 0.66%
112,787
– –
ATNI icon
32
ATN International
ATNI
$463M
$8.27M 0.64%
136,210
+21,157
+18% +$1.4M
PB icon
33
Prosperity Bancshares
PB
$8.69B
$8M 0.62%
110,885
– –
TPH
34
DELISTED
Tri Pointe Homes
TPH
$7.95M 0.62%
606,666
+709
+0.1% +$9.02K
SAFM
35
DELISTED
Sanderson Farms Inc
SAFM
$7.53M 0.58%
49,271
-11,803
-19% -$1.41M
SEB icon
36
Seaboard Corp
SEB
$3.75B
$7.24M 0.56%
1,708
+98
+6% +$378K
SBSI icon
37
Southside Bancshares
SBSI
$950M
$7M 0.54%
198,385
– –
EME icon
38
Emcor
EME
$32.6B
$6.71M 0.52%
82,107
– –
PRSU
39
Pursuit Attractions and Hospitality Inc
PRSU
$1.36B
$6.66M 0.52%
108,235
– –
CARE icon
40
Carter Bankshares
CARE
$729M
$6.66M 0.52%
+337,575
New +$6.42M
FRPH icon
41
FRP Holdings
FRPH
$426M
$6.3M 0.49%
263,514
+15,540
+6% +$387K
FIX icon
42
Comfort Systems
FIX
$53.5B
$5.67M 0.44%
113,130
– –
ASIX icon
43
AdvanSix
ASIX
$445M
$5.51M 0.43%
180,736
-48,007
-21% -$1.46M
UNF icon
44
Unifirst Corp
UNF
$5.1B
$4.93M 0.38%
30,002
– –
ALG icon
45
Alamo Group
ALG
$2.01B
$4.88M 0.38%
46,706
– –
SMHI icon
46
SEACOR Marine Holdings
SMHI
$255M
$4.78M 0.37%
358,074
+63
+0% +$842
G icon
47
Genpact
G
$6.39B
$4.36M 0.34%
120,872
-41,194
-25% -$1.3M
AGX icon
48
Argan
AGX
$5.86B
$4.29M 0.33%
+89,000
New +$4.01M
CFR icon
49
Cullen/Frost Bankers
CFR
$10B
$4.26M 0.33%
42,331
-18,469
-30% -$1.83M
KALU icon
50
Kaiser Aluminum
KALU
$2.56B
$3.9M 0.3%
40,819
-21,859
-35% -$2.23M
1
2
3

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Third Avenue Management's Q1 2019 Portfolio in Review

As of Q1 2019, Third Avenue Management held 65 positions worth $1.29B, up 4.4% from $1.24B the previous quarter. Its ten largest holdings account for 57% of the portfolio.

Third Avenue Management withdrew a net $153M in Q1 2019, closing 6 positions and reducing 29 holdings. Its most notable exit was DuPont de Nemours, an estimated $13.4M position sold in full.

By sector, the portfolio is most concentrated in Real Estate at 41% of assets, up from 40% a quarter earlier, followed by Consumer Discretionary and Financials.

Against the trend, Third Avenue Management opened a new position in Eagle Materials worth $15.7M.

  • Third Avenue Management's largest Q1 2019 buy was Eagle Materials: 175,889 shares worth $15.7M.
  • Third Avenue Management added most to JBG SMITH in Q1 2019, an estimated $26.6M increase.
  • Third Avenue Management's biggest Q1 2019 reduction was Brookfield, cutting an estimated $44M.
  • Third Avenue Management fully exited DuPont de Nemours in Q1 2019, selling an estimated $13.4M.
  • Third Avenue Management's ten largest holdings make up 57% of its $1.29B portfolio in Q1 2019.
  • Third Avenue Management opened 4 new positions and closed 6 in Q1 2019.
  • Third Avenue Management's portfolio value rose 4.4% quarter-over-quarter to $1.29B.

Based on Third Avenue Management's 13F filing for Q1 2019, filed 14 May 2019.