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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
+4.09%
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
$1.01B
AUM Growth
-$96.9M
Cap. Flow
-$137M
Cap. Flow %
-13.56%
Top 10 Hldgs %
53.8%
Holding
59
New
2
Increased
15
Reduced
25
Closed
2

Top Buys

1
HHH icon
Howard Hughes
HHH
+$13.1M
2
MAC icon
Macerich
MAC
+$7.12M
3
FPH icon
Five Point Holdings
FPH
+$4.71M
4
UHAL icon
U-Haul Holding Co
UHAL
+$1.85M
5
CTB
Cooper Tire & Rubber Co.
CTB
+$1.43M

Top Sells

1
BN icon
Brookfield
BN
+$28.4M
2
LOW icon
Lowe's Companies
LOW
+$23.9M
3
PNC icon
PNC Financial Services
PNC
+$20.2M
4
RYN icon
Rayonier
RYN
+$16.9M
5
WY icon
Weyerhaeuser
WY
+$16.1M

Sector Composition

1 Real Estate 42.33%
2 Financials 17.04%
3 Consumer Discretionary 14.65%
4 Industrials 12.43%
5 Materials 5.71%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
UMBF icon
26
UMB Financial
UMBF
$11.1B
$9.07M 0.9%
132,155
+10,375
+9% +$688K
ICFI icon
27
ICF International
ICFI
$1.44B
$8.58M 0.85%
93,665
-19,122
-17% -$1.65M
DBRG icon
28
DigitalBridge
DBRG
$2.91B
$8.57M 0.85%
450,858
+12,131
+3% +$250K
FCN icon
29
FTI Consulting
FCN
$4.89B
$8.2M 0.81%
74,064
-12,805
-15% -$1.4M
TPH
30
DELISTED
Tri Pointe Homes
TPH
$7.83M 0.77%
502,578
-104,088
-17% -$1.6M
ATNI icon
31
ATN International
ATNI
$361M
$7.55M 0.75%
136,395
+185
+0.1% +$10.5K
SEB icon
32
Seaboard Corp
SEB
$4.36B
$7.26M 0.72%
1,708
– –
SBSI icon
33
Southside Bancshares
SBSI
$1.03B
$6.83M 0.68%
183,896
-14,489
-7% -$512K
FIX icon
34
Comfort Systems
FIX
$58.6B
$6.71M 0.66%
134,629
– –
AGX icon
35
Argan
AGX
$7.64B
$6.69M 0.66%
166,754
+33,612
+25% +$1.29M
FRPH icon
36
FRP Holdings
FRPH
$462M
$6.56M 0.65%
263,514
– –
CARE icon
37
Carter Bankshares
CARE
$731M
$6.38M 0.63%
268,982
-68,593
-20% -$1.42M
VC icon
38
Visteon
VC
$2.82B
$6.22M 0.62%
71,849
-40,214
-36% -$3.58M
EME icon
39
Emcor
EME
$32.8B
$6.04M 0.6%
70,044
-12,063
-15% -$1.06M
ALG icon
40
Alamo Group
ALG
$1.98B
$5.86M 0.58%
46,706
– –
G icon
41
Genpact
G
$5.25B
$5.1M 0.5%
120,872
– –
ALCO icon
42
Alico
ALCO
$305M
$5.03M 0.5%
140,451
– –
PRSU
43
Pursuit Attractions and Hospitality Inc
PRSU
$1.43B
$4.95M 0.49%
73,261
-3,296
-4% -$214K
SMHI icon
44
SEACOR Marine Holdings
SMHI
$210M
$4.94M 0.49%
358,074
– –
PB icon
45
Prosperity Bancshares
PB
$8.84B
$4.4M 0.43%
61,148
– –
CTB
46
DELISTED
Cooper Tire & Rubber Co.
CTB
$4.25M 0.42%
147,893
+50,767
+52% +$1.43M
CFR icon
47
Cullen/Frost Bankers
CFR
$10.2B
$4.14M 0.41%
42,331
– –
KALU icon
48
Kaiser Aluminum
KALU
$2.58B
$3.86M 0.38%
34,769
-6,050
-15% -$647K
UNF icon
49
Unifirst Corp
UNF
$5.24B
$3.83M 0.38%
18,954
-5,400
-22% -$1.1M
DORM icon
50
Dorman Products
DORM
$4.23B
$3.3M 0.33%
43,600
– –
1
2
3

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Third Avenue Management's Q4 2019 Portfolio in Review

As of Q4 2019, Third Avenue Management held 59 positions worth $1.01B, down 8.7% from $1.11B the previous quarter. Its ten largest holdings account for 54% of the portfolio.

Third Avenue Management withdrew a net $137M in Q4 2019, closing 2 positions and reducing 25 holdings. Its most notable exit was Lowe's Companies, an estimated $23.9M position sold in full.

By sector, the portfolio is most concentrated in Real Estate at 42% of assets, up from 41% a quarter earlier, followed by Financials and Consumer Discretionary.

Against the trend, Third Avenue Management opened a new position in Howard Hughes worth $14.3M.

  • Third Avenue Management's largest Q4 2019 buy was Howard Hughes: 118,306 shares worth $14.3M.
  • Third Avenue Management added most to Macerich in Q4 2019, an estimated $7.12M increase.
  • Third Avenue Management's biggest Q4 2019 reduction was Brookfield, cutting an estimated $28.4M.
  • Third Avenue Management fully exited Lowe's Companies in Q4 2019, selling an estimated $23.9M.
  • Third Avenue Management's ten largest holdings make up 54% of its $1.01B portfolio in Q4 2019.
  • Third Avenue Management opened 2 new positions and closed 2 in Q4 2019.
  • Third Avenue Management's portfolio value fell 8.7% quarter-over-quarter to $1.01B.

Based on Third Avenue Management's 13F filing for Q4 2019, filed 13 Feb 2020.