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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
+2.75%
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
$743M
AUM Growth
-$12.7M
Cap. Flow
-$24.4M
Cap. Flow %
-3.29%
Top 10 Hldgs %
49.59%
Holding
63
New
3
Increased
10
Reduced
12
Closed
4
Avg Time Held
3.9 years
Top 10 Avg Time Held
3.1 years
Top 20 Avg Time Held
2.9 years

Top Buys

Rank Stock Value
1
VAL icon
Valaris
VAL
+$8.91M
2
APTS
Preferred Apartment Communities, Inc.
APTS
+$2.91M
3
SPHR icon
Sphere Entertainment
SPHR
+$2.06M
4
HBB icon
Hamilton Beach Brands
HBB
+$991K
5
CALM icon
Cal-Maine
CALM
+$839K

Top Sells

Rank Stock Value
1
EXP icon
Eagle Materials
EXP
+$12.4M
2
LEN icon
Lennar Class A
LEN
+$8.76M
3
MHK icon
Mohawk Industries
MHK
+$5.73M
4
JBGS icon
JBG SMITH
JBGS
+$5.34M
5
MAC icon
Macerich
MAC
+$3.01M

Sector Composition

Rank Sector Weight
1 Real Estate 37.26%
2 Financials 24.13%
3 Consumer Discretionary 11.88%
4 Industrials 11.19%
5 Materials 6.18%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow Held Since
WASH icon
26
Washington Trust Bancorp
WASH
$707M
$9.68M 1.3%
182,745
– –
2020 Q2
5 quarters
SEB icon
27
Seaboard Corp
SEB
$3.8B
$9.58M 1.29%
2,336
– –
2016 Q1
22 quarters
FRPH icon
28
FRP Holdings
FRPH
$367M
$8.53M 1.15%
304,870
– –
2018 Q1
14 quarters
VNO icon
29
Vornado Realty Trust
VNO
$6.2B
$8.11M 1.09%
193,011
-5,728
-3% -$247K
2013 Q2
33 quarters
PB icon
30
Prosperity Bancshares
PB
$8.11B
$7.68M 1.03%
107,928
– –
2014 Q1
30 quarters
ICFI icon
31
ICF International
ICFI
$1.59B
$7.47M 1.01%
83,673
– –
2013 Q2
33 quarters
PRA icon
32
DELISTED
ProAssurance
PRA
$7.06M 0.95%
297,038
– –
2020 Q4
3 quarters
SBSI icon
33
Southside Bancshares
SBSI
$909M
$6.29M 0.85%
164,220
– –
2015 Q3
24 quarters
KALU icon
34
Kaiser Aluminum
KALU
$2.43B
$5.68M 0.76%
52,160
– –
2013 Q2
33 quarters
EME icon
35
Emcor
EME
$32.3B
$5.28M 0.71%
45,788
– –
2013 Q2
33 quarters
CALM icon
36
Cal-Maine
CALM
$2.97B
$5.05M 0.68%
139,635
+23,541
+20% +$839K
2020 Q1
6 quarters
AAMI icon
37
Acadian Asset Management
AAMI
$3.29B
$5.05M 0.68%
193,259
– –
2021 Q1
2 quarters
TPH icon
38
DELISTED
Tri Pointe Homes
TPH
$4.9M 0.66%
232,961
– –
2017 Q1
18 quarters
CET icon
39
Central Securities Corp
CET
$1.64B
$4.7M 0.63%
111,210
– –
2020 Q1
6 quarters
BATRA icon
40
Atlanta Braves Holdings Series A
BATRA
$3.51B
$4.69M 0.63%
174,128
– –
2020 Q1
6 quarters
STRS icon
41
DELISTED
STRATUS PPTYS INC
STRS
$4.55M 0.61%
141,118
+13,556
+11% +$399K
2021 Q2
1 quarter
ALG icon
42
Alamo Group
ALG
$1.86B
$4.45M 0.6%
31,880
– –
2013 Q2
33 quarters
HBB icon
43
Hamilton Beach Brands
HBB
$461M
$4.43M 0.6%
282,436
+55,213
+24% +$991K
2020 Q3
4 quarters
ATNI icon
44
ATN International
ATNI
$398M
$4.4M 0.59%
93,903
– –
2018 Q2
13 quarters
FIX icon
45
Comfort Systems
FIX
$52.1B
$3.74M 0.5%
52,390
– –
2016 Q3
20 quarters
UNF icon
46
Unifirst Corp
UNF
$4.79B
$3.18M 0.43%
14,942
– –
2013 Q2
33 quarters
APTS
47
DELISTED
Preferred Apartment Communities, Inc.
APTS
$3.15M 0.42%
+257,713
New +$2.91M
2021 Q3
0 quarters
VC icon
48
Visteon
VC
$2.37B
$3.01M 0.4%
31,848
– –
2015 Q3
24 quarters
SRG icon
49
Seritage Growth Properties
SRG
$92.9M
$3M 0.4%
202,271
-142,744
-41% -$2.25M
2018 Q1
14 quarters
DORM icon
50
Dorman Products
DORM
$3.67B
$2.47M 0.33%
26,078
– –
2015 Q1
26 quarters
1
2
3

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Third Avenue Management's Q3 2021 Portfolio in Review

As of Q3 2021, Third Avenue Management held 63 positions worth $743M, down 1.7% from $756M the previous quarter. Its ten largest holdings account for 50% of the portfolio.

Third Avenue Management withdrew a net $24.4M in Q3 2021, closing 4 positions and reducing 12 holdings. Its most notable exit was Eagle Materials, an estimated $12.4M position sold in full.

By sector, the portfolio is most concentrated in Real Estate at 37% of assets, down from 38% a quarter earlier, followed by Financials and Consumer Discretionary.

Against the trend, Third Avenue Management opened a new position in Valaris worth $10.8M.

  • Third Avenue Management's largest Q3 2021 buy was Valaris: 310,047 shares worth $10.8M.
  • Third Avenue Management added most to Hamilton Beach Brands in Q3 2021, an estimated $991K increase.
  • Third Avenue Management's biggest Q3 2021 reduction was Mohawk Industries, cutting an estimated $5.73M.
  • Third Avenue Management fully exited Eagle Materials in Q3 2021, selling an estimated $12.4M.
  • Third Avenue Management's ten largest holdings make up 50% of its $743M portfolio in Q3 2021.
  • Third Avenue Management opened 3 new positions and closed 4 in Q3 2021.
  • Third Avenue Management's portfolio value fell 1.7% quarter-over-quarter to $743M.

Based on Third Avenue Management's 13F filing for Q3 2021, filed 12 Nov 2021.