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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
+18.3%
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
$714M
AUM Growth
+$37.4M
Cap. Flow
-$57.3M
Cap. Flow %
-8.03%
Top 10 Hldgs %
49.56%
Holding
69
New
2
Increased
13
Reduced
27
Closed
4

Top Buys

Rank Stock Value
1
AMH icon
American Homes 4 Rent
AMH
+$10M
2
ORI icon
Old Republic International
ORI
+$5.07M
3
CMA
Comerica
CMA
+$3.67M
4
WASH icon
Washington Trust Bancorp
WASH
+$2.15M
5
UMBF icon
UMB Financial
UMBF
+$1.34M

Top Sells

Rank Stock Value
1
LEN icon
Lennar Class A
LEN
+$14M
2
PSA icon
Public Storage
PSA
+$12.2M
3
BN icon
Brookfield
BN
+$7.51M
4
LEN.B icon
Lennar Class B
LEN.B
+$6.93M
5
CUBI icon
Customers Bancorp
CUBI
+$5.55M

Sector Composition

Rank Sector Weight
1 Real Estate 43.29%
2 Consumer Discretionary 16.5%
3 Financials 15.7%
4 Industrials 12.15%
5 Materials 6.61%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
UMBF icon
26
UMB Financial
UMBF
$11B
$8.95M 1.25%
173,524
+27,263
+19% +$1.34M
TPHS
27
DELISTED
Trinity Place Holdings Inc.com
TPHS
$8.38M 1.17%
6,070,676
+23,829
+0.4% +$38.7K
PSA icon
28
Public Storage
PSA
$58.5B
$7.34M 1.03%
38,265
-63,263
-62% -$12.2M
CTB
29
DELISTED
Cooper Tire & Rubber Co.
CTB
$6.98M 0.98%
252,680
+19,982
+9% +$460K
SRG
30
Seritage Growth Properties
SRG
$119M
$6.78M 0.95%
594,279
-57,331
-9% -$577K
CALM icon
31
Cal-Maine
CALM
$3.75B
$6.09M 0.85%
136,928
– –
FIX icon
32
Comfort Systems
FIX
$53.5B
$5.87M 0.82%
143,925
+9,296
+7% +$330K
ICFI icon
33
ICF International
ICFI
$1.62B
$5.42M 0.76%
83,604
-10,061
-11% -$660K
FRPH icon
34
FRP Holdings
FRPH
$426M
$5.35M 0.75%
263,514
– –
VC icon
35
Visteon
VC
$2.72B
$5.2M 0.73%
75,945
+4,096
+6% +$257K
SEB icon
36
Seaboard Corp
SEB
$3.75B
$5.01M 0.7%
1,708
– –
AGX icon
37
Argan
AGX
$5.86B
$4.99M 0.7%
105,230
-14,222
-12% -$543K
ALG icon
38
Alamo Group
ALG
$2.01B
$4.79M 0.67%
46,706
– –
ATNI icon
39
ATN International
ATNI
$463M
$4.39M 0.61%
72,427
-36,575
-34% -$2.19M
ALCO icon
40
Alico
ALCO
$300M
$4.38M 0.61%
140,451
– –
TPH
41
DELISTED
Tri Pointe Homes
TPH
$4.22M 0.59%
287,085
+71,696
+33% +$879K
FCN icon
42
FTI Consulting
FCN
$4.25B
$3.79M 0.53%
33,091
-9,866
-23% -$1.19M
PB icon
43
Prosperity Bancshares
PB
$8.69B
$3.63M 0.51%
61,148
– –
SBSI icon
44
Southside Bancshares
SBSI
$950M
$3.48M 0.49%
125,475
– –
UNF icon
45
Unifirst Corp
UNF
$5.1B
$3.39M 0.48%
18,954
– –
MAC icon
46
Macerich
MAC
$6.73B
$3.36M 0.47%
374,972
+18,411
+5% +$143K
CET
47
Central Securities Corp
CET
$1.62B
$3.21M 0.45%
111,210
– –
CFR icon
48
Cullen/Frost Bankers
CFR
$10B
$3.16M 0.44%
42,331
– –
EME icon
49
Emcor
EME
$32.6B
$3.03M 0.42%
45,788
– –
KALU icon
50
Kaiser Aluminum
KALU
$2.56B
$3.02M 0.42%
41,089
+6,320
+18% +$450K
1
2
3

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Third Avenue Management's Q2 2020 Portfolio in Review

As of Q2 2020, Third Avenue Management held 69 positions worth $714M, up 5.5% from $676M the previous quarter. Its ten largest holdings account for 50% of the portfolio.

Third Avenue Management withdrew a net $57.3M in Q2 2020, closing 4 positions and reducing 27 holdings. Its most notable exit was Genpact, an estimated $2.5M position sold in full.

By sector, the portfolio is most concentrated in Real Estate at 43% of assets, down from 46% a quarter earlier, followed by Consumer Discretionary and Financials.

Against the trend, Third Avenue Management opened a new position in American Homes 4 Rent worth $10.8M.

  • Third Avenue Management's largest Q2 2020 buy was American Homes 4 Rent: 402,492 shares worth $10.8M.
  • Third Avenue Management added most to Old Republic International in Q2 2020, an estimated $5.07M increase.
  • Third Avenue Management's biggest Q2 2020 reduction was Lennar Class A, cutting an estimated $14M.
  • Third Avenue Management fully exited Genpact in Q2 2020, selling an estimated $2.5M.
  • Third Avenue Management's ten largest holdings make up 50% of its $714M portfolio in Q2 2020.
  • Third Avenue Management opened 2 new positions and closed 4 in Q2 2020.
  • Third Avenue Management's portfolio value rose 5.5% quarter-over-quarter to $714M.

Based on Third Avenue Management's 13F filing for Q2 2020, filed 14 Aug 2020.