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TAM

Third Avenue Management Portfolio holdings

AUM $625M Turnover 10.53%
1-Year Est. Return 48.93%
This Fund
S&P 500
This Quarter Est. Return
+4.09%
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
$1.01B
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
Avg Time Held
3.6 years
Top 10 Avg Time Held
2.6 years
Top 20 Avg Time Held
2.9 years

Top Buys

Rank Stock Value
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

Rank Stock Value
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

Rank Sector Weight
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 Held Since
UMBF icon
26
UMB Financial
UMBF
$10B
$9.07M 0.9%
132,155
+10,375
+9% +$688K
2013 Q2
26 quarters
ICFI icon
27
ICF International
ICFI
$1.59B
$8.58M 0.85%
93,665
-19,122
-17% -$1.65M
2013 Q2
26 quarters
DBRG icon
28
DELISTED
DigitalBridge
DBRG
$8.57M 0.85%
450,858
+12,131
+3% +$250K
2019 Q3
1 quarter
FCN icon
29
FTI Consulting
FCN
$4.04B
$8.2M 0.81%
74,064
-12,805
-15% -$1.4M
2013 Q3
25 quarters
TPH icon
30
DELISTED
Tri Pointe Homes
TPH
$7.83M 0.77%
502,578
-104,088
-17% -$1.6M
2017 Q1
11 quarters
ATNI icon
31
ATN International
ATNI
$398M
$7.55M 0.75%
136,395
+185
+0.1% +$10.5K
2018 Q2
6 quarters
SEB icon
32
Seaboard Corp
SEB
$3.8B
$7.26M 0.72%
1,708
– –
2016 Q1
15 quarters
SBSI icon
33
Southside Bancshares
SBSI
$909M
$6.83M 0.68%
183,896
-14,489
-7% -$512K
2015 Q3
17 quarters
FIX icon
34
Comfort Systems
FIX
$52.1B
$6.71M 0.66%
134,629
– –
2016 Q3
13 quarters
AGX icon
35
Argan
AGX
$5.15B
$6.69M 0.66%
166,754
+33,612
+25% +$1.29M
2019 Q1
3 quarters
FRPH icon
36
FRP Holdings
FRPH
$367M
$6.56M 0.65%
263,514
– –
2018 Q1
7 quarters
CARE icon
37
Carter Bankshares
CARE
$702M
$6.38M 0.63%
268,982
-68,593
-20% -$1.42M
2019 Q1
3 quarters
VC icon
38
Visteon
VC
$2.37B
$6.22M 0.62%
71,849
-40,214
-36% -$3.58M
2015 Q3
17 quarters
EME icon
39
Emcor
EME
$32.3B
$6.04M 0.6%
70,044
-12,063
-15% -$1.06M
2013 Q2
26 quarters
ALG icon
40
Alamo Group
ALG
$1.86B
$5.86M 0.58%
46,706
– –
2013 Q2
26 quarters
G icon
41
Genpact
G
$6.29B
$5.1M 0.5%
120,872
– –
2014 Q1
23 quarters
ALCO icon
42
Alico
ALCO
$282M
$5.03M 0.5%
140,451
– –
2013 Q2
26 quarters
PRSU icon
43
Pursuit Attractions and Hospitality Inc
PRSU
$1.5B
$4.95M 0.49%
73,261
-3,296
-4% -$214K
2014 Q4
20 quarters
SMHI icon
44
SEACOR Marine Holdings
SMHI
$219M
$4.94M 0.49%
358,074
– –
2018 Q1
7 quarters
PB icon
45
Prosperity Bancshares
PB
$8.11B
$4.4M 0.43%
61,148
– –
2014 Q1
23 quarters
CTB
46
DELISTED
Cooper Tire & Rubber Co.
CTB
$4.25M 0.42%
147,893
+50,767
+52% +$1.43M
2019 Q3
1 quarter
CFR icon
47
Cullen/Frost Bankers
CFR
$9.58B
$4.14M 0.41%
42,331
– –
2013 Q2
26 quarters
KALU icon
48
Kaiser Aluminum
KALU
$2.43B
$3.86M 0.38%
34,769
-6,050
-15% -$647K
2013 Q2
26 quarters
UNF icon
49
Unifirst Corp
UNF
$4.79B
$3.83M 0.38%
18,954
-5,400
-22% -$1.1M
2013 Q2
26 quarters
DORM icon
50
Dorman Products
DORM
$3.67B
$3.3M 0.33%
43,600
– –
2015 Q1
19 quarters
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.