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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
+5.99%
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
$734M
AUM Growth
-$26.5M
(-3.5%)
Cap. Flow
-$30.1M
Cap. Flow
% of AUM
-4.09%
Top 10 Holdings %
Top 10 Hldgs %
51.13%
Holding
60
New
1
Increased
13
Reduced
16
Closed
2
Avg Time Held
4.1
years
Top 10 Avg Time Held
3.5
years
Top 20 Avg Time Held
3
years
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
InvenTrust Properties
IVT
|
+$9.24M |
| 2 |
Hawaiian Holdings, Inc.
HA
|
+$4.42M |
| 3 |
Hamilton Beach Brands
HBB
|
+$3.7M |
| 4 |
CTT
CATCHMARK TIMBER TRUST, INC.
CTT
|
+$2.61M |
| 5 |
U-Haul Holding Co
UHAL
|
+$1.14M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Warrior Met Coal
HCC
|
+$17M |
| 2 |
Essex Property Trust
ESS
|
+$10.5M |
| 3 |
APTS
Preferred Apartment Communities, Inc.
APTS
|
+$8.21M |
| 4 |
Comerica
CMA
|
+$3.81M |
| 5 |
Cal-Maine
CALM
|
+$3.2M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Real Estate | 36.73% |
| 2 | Financials | 22.34% |
| 3 | Industrials | 11.42% |
| 4 | Consumer Discretionary | 9.6% |
| 5 | Energy | 8.51% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
26
FRP Holdings
FRPH
$367M
| $8.81M | 1.2% |
304,870
| – | – |
2018 Q1
16 quarters
|
|
27
DELISTED
ProAssurance
PRA
| $7.99M | 1.09% |
297,038
| – | – |
2020 Q4
5 quarters
|
|
28
ICF International
ICFI
$1.59B
| $7.88M | 1.07% |
83,673
| – | – |
2013 Q2
35 quarters
|
|
29
Prosperity Bancshares
PB
$8.11B
| $7.49M | 1.02% |
107,928
| – | – |
2014 Q1
32 quarters
|
|
|
30
Hamilton Beach Brands
HBB
$461M
| $7.1M | 0.97% |
610,367
+285,243
| +88% | +$3.7M |
2020 Q3
6 quarters
|
|
31
JBG SMITH
JBGS
$649M
| $6.99M | 0.95% |
239,262
-100,130
| -30% | -$2.82M |
2017 Q3
18 quarters
|
|
32
Southside Bancshares
SBSI
$909M
| $6.71M | 0.91% |
164,220
| – | – |
2015 Q3
26 quarters
|
|
33
DELISTED
STRATUS PPTYS INC
STRS
| $6.15M | 0.84% |
142,835
| – | – |
2021 Q2
3 quarters
|
|
34
Sphere Entertainment
SPHR
$3.91B
| $5.67M | 0.77% |
68,045
| – | – |
2021 Q3
2 quarters
|
|
35
Emcor
EME
$32.3B
| $5.16M | 0.7% |
45,788
| – | – |
2013 Q2
35 quarters
|
|
36
Atlanta Braves Holdings Series A
BATRA
$3.51B
| $5.01M | 0.68% |
174,128
| – | – |
2020 Q1
8 quarters
|
|
37
Kaiser Aluminum
KALU
$2.43B
| $4.91M | 0.67% |
52,160
| – | – |
2013 Q2
35 quarters
|
|
38
Central Securities Corp
CET
$1.63B
| $4.6M | 0.63% |
111,210
| – | – |
2020 Q1
8 quarters
|
|
39
Alamo Group
ALG
$1.86B
| $4.58M | 0.62% |
31,880
| – | – |
2013 Q2
35 quarters
|
|
40
DELISTED
Tri Pointe Homes
TPH
| $3.92M | 0.53% |
195,155
| – | – |
2017 Q1
20 quarters
|
|
41
Comfort Systems
FIX
$52.1B
| $3.77M | 0.51% |
42,400
-9,990
| -19% | -$897K |
2016 Q3
22 quarters
|
|
|
42
Cal-Maine
CALM
$2.97B
| $3.65M | 0.5% |
66,044
-73,591
| -53% | -$3.2M |
2020 Q1
8 quarters
|
|
43
Visteon
VC
$2.37B
| $3.48M | 0.47% |
31,848
| – | – |
2015 Q3
26 quarters
|
|
44
Acadian Asset Management
AAMI
$3.29B
| $3.35M | 0.46% |
137,908
+43,792
| +47% | +$1.04M |
2021 Q1
4 quarters
|
|
|
CTT
45
DELISTED
CATCHMARK TIMBER TRUST, INC.
CTT
| $3.33M | 0.45% |
406,444
+317,905
| +359% | +$2.61M |
2021 Q4
1 quarter
|
|
46
Unifirst Corp
UNF
$4.79B
| $2.75M | 0.38% |
14,942
| – | – |
2013 Q2
35 quarters
|
|
47
Dorman Products
DORM
$3.67B
| $2.48M | 0.34% |
26,078
| – | – |
2015 Q1
28 quarters
|
|
48
DELISTED
Retail Opportunity Investments Corp.
ROIC
| $1.46M | 0.2% |
75,000
| – | – |
2020 Q1
8 quarters
|
|
49
CTO Realty Growth
CTO
$772M
| $1.28M | 0.17% |
57,879
| – | – |
2020 Q1
8 quarters
|
|
50
NexPoint Residential Trust
NXRT
$474M
| $1.18M | 0.16% |
13,000
| – | – |
2020 Q1
8 quarters
|
|
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Third Avenue Management's Q1 2022 Portfolio in Review
As of Q1 2022, Third Avenue Management held 60 positions worth $734M, down 3.5% from $760M the previous quarter. Its ten largest holdings account for 51% of the portfolio.
Third Avenue Management withdrew a net $30.1M in Q1 2022, closing 2 positions and reducing 16 holdings. Its most notable exit was Essex Property Trust, an estimated $10.5M 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 Industrials.
Against the trend, Third Avenue Management opened a new position in D.R. Horton worth $226K.
- Third Avenue Management's largest Q1 2022 buy was D.R. Horton: 3,028 shares worth $226K.
- Third Avenue Management added most to InvenTrust Properties in Q1 2022, an estimated $9.24M increase.
- Third Avenue Management's biggest Q1 2022 reduction was Warrior Met Coal, cutting an estimated $17M.
- Third Avenue Management fully exited Essex Property Trust in Q1 2022, selling an estimated $10.5M.
- Third Avenue Management's ten largest holdings make up 51% of its $734M portfolio in Q1 2022.
- Third Avenue Management opened 1 new position and closed 2 in Q1 2022.
- Third Avenue Management's portfolio value fell 3.5% quarter-over-quarter to $734M.
Based on Third Avenue Management's 13F filing for Q1 2022, filed 13 May 2022.