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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
+5.99%
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
$734M
AUM Growth
-$26.5M
Cap. Flow
-$30.1M
Cap. Flow %
-4.09%
Top 10 Hldgs %
51.13%
Holding
60
New
1
Increased
13
Reduced
16
Closed
2

Top Buys

1
IVT icon
InvenTrust Properties
IVT
+$9.24M
2
HA
Hawaiian Holdings, Inc.
HA
+$4.42M
3
HBB icon
Hamilton Beach Brands
HBB
+$3.7M
4
CTT
CATCHMARK TIMBER TRUST, INC.
CTT
+$2.61M
5
UHAL icon
U-Haul Holding Co
UHAL
+$1.14M

Top Sells

1
HCC icon
Warrior Met Coal
HCC
+$17M
2
ESS icon
Essex Property Trust
ESS
+$10.5M
3
APTS
Preferred Apartment Communities, Inc.
APTS
+$8.21M
4
CMA
Comerica
CMA
+$3.81M
5
CALM icon
Cal-Maine
CALM
+$3.2M

Sector Composition

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
FRPH icon
26
FRP Holdings
FRPH
$462M
$8.81M 1.2%
304,870
– –
PRA
27
DELISTED
ProAssurance
PRA
$7.99M 1.09%
297,038
– –
ICFI icon
28
ICF International
ICFI
$1.43B
$7.88M 1.07%
83,673
– –
PB icon
29
Prosperity Bancshares
PB
$8.81B
$7.49M 1.02%
107,928
– –
HBB icon
30
Hamilton Beach Brands
HBB
$312M
$7.1M 0.97%
610,367
+285,243
+88% +$3.7M
JBGS
31
JBG SMITH
JBGS
$867M
$6.99M 0.95%
239,262
-100,130
-30% -$2.82M
SBSI icon
32
Southside Bancshares
SBSI
$1.04B
$6.71M 0.91%
164,220
– –
STRS icon
33
Stratus Properties
STRS
$164M
$6.15M 0.84%
142,835
– –
SPHR icon
34
Sphere Entertainment
SPHR
$5.1B
$5.67M 0.77%
68,045
– –
EME icon
35
Emcor
EME
$33B
$5.16M 0.7%
45,788
– –
BATRA icon
36
Atlanta Braves Holdings Series A
BATRA
$3.64B
$5.01M 0.68%
174,128
– –
KALU icon
37
Kaiser Aluminum
KALU
$2.58B
$4.91M 0.67%
52,160
– –
CET
38
Central Securities Corp
CET
$1.55B
$4.6M 0.63%
111,210
– –
ALG icon
39
Alamo Group
ALG
$1.98B
$4.58M 0.62%
31,880
– –
TPH
40
DELISTED
Tri Pointe Homes
TPH
$3.92M 0.53%
195,155
– –
FIX icon
41
Comfort Systems
FIX
$58.8B
$3.77M 0.51%
42,400
-9,990
-19% -$897K
CALM icon
42
Cal-Maine
CALM
$4.19B
$3.65M 0.5%
66,044
-73,591
-53% -$3.2M
VC icon
43
Visteon
VC
$2.8B
$3.48M 0.47%
31,848
– –
AAMI
44
Acadian Asset Management
AAMI
$2.95B
$3.35M 0.46%
137,908
+43,792
+47% +$1.04M
CTT
45
DELISTED
CATCHMARK TIMBER TRUST, INC.
CTT
$3.33M 0.45%
406,444
+317,905
+359% +$2.61M
UNF icon
46
Unifirst Corp
UNF
$5.27B
$2.75M 0.38%
14,942
– –
DORM icon
47
Dorman Products
DORM
$4.24B
$2.48M 0.34%
26,078
– –
ROIC
48
DELISTED
Retail Opportunity Investments Corp.
ROIC
$1.46M 0.2%
75,000
– –
CTO
49
CTO Realty Growth
CTO
$751M
$1.28M 0.17%
57,879
– –
NXRT
50
NexPoint Residential Trust
NXRT
$680M
$1.18M 0.16%
13,000
– –
1
2
3

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CPC
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AOWM
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VHMC
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ACP
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MC
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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.