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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
-4.61%
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
$508M
AUM Growth
-$53.5M
Cap. Flow
-$22.6M
Cap. Flow %
-4.45%
Top 10 Hldgs %
46.64%
Holding
56
New
–
Increased
5
Reduced
26
Closed
3
Avg Time Held
4.5 years
Top 10 Avg Time Held
1.9 years
Top 20 Avg Time Held
3.5 years

Top Buys

Rank Stock Value
1
LAZ icon
Lazard
LAZ
+$2.18M
2
HA icon
Hawaiian Holdings, Inc.
HA
+$1.8M
3
TPH icon
Tri Pointe Homes
TPH
+$1.09M
4
KALU icon
Kaiser Aluminum
KALU
+$893K
5
PRA icon
ProAssurance
PRA
+$878K

Top Sells

Rank Stock Value
1
FPH icon
Five Point Holdings
FPH
+$8.13M
2
VC icon
Visteon
VC
+$3.3M
3
CMA icon
Comerica
CMA
+$2.18M
4
CALM icon
Cal-Maine
CALM
+$2.06M
5
LOW icon
Lowe's Companies
LOW
+$1.73M

Sector Composition

Rank Sector Weight
1 Real Estate 25.22%
2 Financials 24.38%
3 Industrials 12.88%
4 Consumer Discretionary 12.62%
5 Energy 12.07%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow Held Since
FRPH icon
26
FRP Holdings
FRPH
$367M
$7.01M 1.38%
257,830
-47,040
-15% -$1.37M
2018 Q1
18 quarters
ICFI icon
27
ICF International
ICFI
$1.59B
$6.96M 1.37%
63,802
– –
2013 Q2
37 quarters
PB icon
28
Prosperity Bancshares
PB
$8.11B
$6.8M 1.34%
101,965
– –
2014 Q1
34 quarters
HBB icon
29
Hamilton Beach Brands
HBB
$461M
$6.66M 1.31%
570,298
-31,916
-5% -$381K
2020 Q3
8 quarters
PRA icon
30
DELISTED
ProAssurance
PRA
$6.58M 1.29%
337,035
+39,997
+13% +$878K
2020 Q4
7 quarters
SBSI icon
31
Southside Bancshares
SBSI
$909M
$5.56M 1.09%
157,109
– –
2015 Q3
28 quarters
EME icon
32
Emcor
EME
$32.3B
$5.29M 1.04%
45,788
– –
2013 Q2
37 quarters
BATRA icon
33
Atlanta Braves Holdings Series A
BATRA
$3.51B
$4.9M 0.96%
174,128
– –
2020 Q1
10 quarters
TPHS icon
34
DELISTED
Trinity Place Holdings Inc.com
TPHS
$4.69M 0.92%
5,313,022
-104,009
-2% -$105K
2016 Q1
26 quarters
TPH icon
35
DELISTED
Tri Pointe Homes
TPH
$4.64M 0.91%
307,305
+61,669
+25% +$1.09M
2017 Q1
22 quarters
FIX icon
36
Comfort Systems
FIX
$52.1B
$4.13M 0.81%
42,400
– –
2016 Q3
24 quarters
KALU icon
37
Kaiser Aluminum
KALU
$2.43B
$3.95M 0.78%
64,315
+12,155
+23% +$893K
2013 Q2
37 quarters
ALG icon
38
Alamo Group
ALG
$1.86B
$3.9M 0.77%
31,880
– –
2013 Q2
37 quarters
CET icon
39
Central Securities Corp
CET
$1.63B
$3.75M 0.74%
111,210
– –
2020 Q1
10 quarters
SPHR icon
40
Sphere Entertainment
SPHR
$3.91B
$3.67M 0.72%
83,237
-3,622
-4% -$203K
2021 Q3
4 quarters
CCF
41
DELISTED
Chase Corporation
CCF
$3.37M 0.66%
40,292
– –
2022 Q2
1 quarter
UNF icon
42
Unifirst Corp
UNF
$4.79B
$2.51M 0.49%
14,942
– –
2013 Q2
37 quarters
AAMI icon
43
Acadian Asset Management
AAMI
$3.29B
$2.06M 0.4%
137,908
– –
2021 Q1
6 quarters
STRS icon
44
DELISTED
STRATUS PPTYS INC
STRS
$1.77M 0.35%
76,058
-45,383
-37% -$1.43M
2021 Q2
5 quarters
CALM icon
45
Cal-Maine
CALM
$2.97B
$1.58M 0.31%
28,403
-37,641
-57% -$2.06M
2020 Q1
10 quarters
CTO icon
46
CTO Realty Growth
CTO
$772M
$1.08M 0.21%
57,879
– –
2020 Q1
10 quarters
ROIC icon
47
DELISTED
Retail Opportunity Investments Corp.
ROIC
$1.03M 0.2%
75,000
– –
2020 Q1
10 quarters
PCH icon
48
DELISTED
PotlatchDeltic
PCH
$821K 0.16%
20,000
– –
2020 Q1
10 quarters
STC icon
49
Stewart Information Services
STC
$1.59B
$742K 0.15%
17,000
– –
2020 Q1
10 quarters
RMR icon
50
The RMR Group
RMR
$319M
$616K 0.12%
26,000
– –
2020 Q1
10 quarters
1
2
3

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Third Avenue Management's Q3 2022 Portfolio in Review

As of Q3 2022, Third Avenue Management held 56 positions worth $508M, down 9.5% from $562M the previous quarter. Its ten largest holdings account for 47% of the portfolio.

Third Avenue Management withdrew a net $22.6M in Q3 2022, closing 3 positions and reducing 26 holdings. Its most notable exit was Visteon, an estimated $3.3M position sold in full.

By sector, the portfolio is most concentrated in Real Estate at 25% of assets, down from 30% a quarter earlier, followed by Financials and Industrials.

Against the trend, Third Avenue Management added an estimated $2.18M to Lazard.

  • Third Avenue Management added most to Lazard in Q3 2022, an estimated $2.18M increase.
  • Third Avenue Management's biggest Q3 2022 reduction was Five Point Holdings, cutting an estimated $8.13M.
  • Third Avenue Management fully exited Visteon in Q3 2022, selling an estimated $3.3M.
  • Third Avenue Management's ten largest holdings make up 47% of its $508M portfolio in Q3 2022.
  • Third Avenue Management opened 0 new positions and closed 3 in Q3 2022.
  • Third Avenue Management's portfolio value fell 9.5% quarter-over-quarter to $508M.

Based on Third Avenue Management's 13F filing for Q3 2022, filed 14 Nov 2022.