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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
+5.43%
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
$596M
AUM Growth
-$9.54M
Cap. Flow
-$32.3M
Cap. Flow %
-5.41%
Top 10 Hldgs %
49.79%
Holding
60
New
2
Increased
7
Reduced
24
Closed
1
Avg Time Held
4.7 years
Top 10 Avg Time Held
1.5 years
Top 20 Avg Time Held
3.6 years

Top Buys

Rank Stock Value
1
ITIC icon
Investors Title Co
ITIC
+$3.45M
2
SUI icon
Sun Communities
SUI
+$3.17M
3
WASH icon
Washington Trust Bancorp
WASH
+$2.59M
4
SUPN icon
Supernus Pharmaceuticals
SUPN
+$1.51M
5
ECPG icon
Encore Capital Group
ECPG
+$1.26M

Top Sells

Rank Stock Value
1
TDW icon
Tidewater
TDW
+$18.3M
2
DB icon
Deutsche Bank
DB
+$6.09M
3
CCF
Chase Corporation
CCF
+$4.87M
4
CMA icon
Comerica
CMA
+$4.69M
5
PLD icon
Prologis
PLD
+$3.41M

Sector Composition

Rank Sector Weight
1 Financials 27.27%
2 Real Estate 20.61%
3 Energy 15.18%
4 Materials 12.09%
5 Consumer Discretionary 10.44%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow Held Since
WASH icon
26
Washington Trust Bancorp
WASH
$707M
$8.05M 1.35%
294,994
+90,842
+44% +$2.59M
2020 Q2
13 quarters
ECPG icon
27
Encore Capital Group
ECPG
$2.18B
$8.05M 1.35%
170,678
+25,723
+18% +$1.26M
2022 Q4
3 quarters
FR icon
28
First Industrial Realty Trust
FR
$7.79B
$7.51M 1.26%
157,758
-252
-0.2% -$13K
2013 Q2
41 quarters
HBB icon
29
Hamilton Beach Brands
HBB
$461M
$7.12M 1.19%
569,404
– –
2020 Q3
12 quarters
KALU icon
30
Kaiser Aluminum
KALU
$2.43B
$7.09M 1.19%
96,721
– –
2013 Q2
41 quarters
ICFI icon
31
ICF International
ICFI
$1.59B
$6.97M 1.17%
57,779
– –
2013 Q2
41 quarters
FRPH icon
32
FRP Holdings
FRPH
$367M
$6.9M 1.16%
252,978
– –
2018 Q1
22 quarters
BATRA icon
33
Atlanta Braves Holdings Series A
BATRA
$3.51B
$6.33M 1.06%
164,438
– –
2020 Q1
14 quarters
SBSI icon
34
Southside Bancshares
SBSI
$909M
$6.01M 1.01%
209,426
– –
2015 Q3
32 quarters
ALG icon
35
Alamo Group
ALG
$1.86B
$5.74M 0.96%
31,880
– –
2013 Q2
41 quarters
PB icon
36
Prosperity Bancshares
PB
$8.11B
$5.49M 0.92%
101,965
– –
2014 Q1
38 quarters
FNF icon
37
Fidelity National Financial
FNF
$10.6B
$5.01M 0.84%
121,207
-221
-0.2% -$8.85K
2016 Q1
30 quarters
FIX icon
38
Comfort Systems
FIX
$52.1B
$4.54M 0.76%
25,704
– –
2016 Q3
28 quarters
BAM icon
39
Brookfield Asset Management
BAM
$73.4B
$4.4M 0.74%
130,437
-209
-0.2% -$7.05K
2022 Q4
3 quarters
ITIC icon
40
Investors Title Co
ITIC
$544M
$4.37M 0.73%
29,599
+22,926
+344% +$3.45M
2023 Q2
1 quarter
TPH icon
41
DELISTED
Tri Pointe Homes
TPH
$4.34M 0.73%
155,997
– –
2017 Q1
26 quarters
SUI icon
42
Sun Communities
SUI
$14.1B
$4.32M 0.73%
36,527
+25,010
+217% +$3.17M
2023 Q2
1 quarter
SPHR icon
43
Sphere Entertainment
SPHR
$3.91B
$4.19M 0.7%
111,252
-17,500
-14% -$645K
2021 Q3
8 quarters
CET icon
44
Central Securities Corp
CET
$1.64B
$3.96M 0.66%
111,210
– –
2020 Q1
14 quarters
UNF icon
45
Unifirst Corp
UNF
$4.79B
$3.27M 0.55%
19,837
– –
2013 Q2
41 quarters
SUPN icon
46
Supernus Pharmaceuticals
SUPN
$2.3B
$3.27M 0.55%
116,549
+49,487
+74% +$1.51M
2022 Q2
5 quarters
TPHS icon
47
DELISTED
Trinity Place Holdings Inc.com
TPHS
$1.87M 0.31%
5,127,786
– –
2016 Q1
30 quarters
ROIC icon
48
DELISTED
Retail Opportunity Investments Corp.
ROIC
$1.12M 0.19%
90,000
– –
2020 Q1
14 quarters
CTO icon
49
CTO Realty Growth
CTO
$772M
$1.02M 0.17%
63,000
– –
2020 Q1
14 quarters
EQC icon
50
DELISTED
Equity Commonwealth
EQC
$1.01M 0.17%
55,000
– –
2023 Q2
1 quarter
1
2
3

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Third Avenue Management's Q3 2023 Portfolio in Review

As of Q3 2023, Third Avenue Management held 60 positions worth $596M, down 1.6% from $606M the previous quarter. Its ten largest holdings account for 50% of the portfolio.

Third Avenue Management withdrew a net $32.3M in Q3 2023, closing 1 position and reducing 24 holdings. Its most notable exit was Chase Corporation, an estimated $4.87M position sold in full.

By sector, the portfolio is most concentrated in Financials at 27% of assets, up from 27% a quarter earlier, followed by Real Estate and Energy.

Against the trend, Third Avenue Management opened a new position in Atlanta Braves Holdings Series B worth $914K.

  • Third Avenue Management's largest Q3 2023 buy was Atlanta Braves Holdings Series B: 25,700 shares worth $914K.
  • Third Avenue Management added most to Investors Title Co in Q3 2023, an estimated $3.45M increase.
  • Third Avenue Management's biggest Q3 2023 reduction was Tidewater, cutting an estimated $18.3M.
  • Third Avenue Management fully exited Chase Corporation in Q3 2023, selling an estimated $4.87M.
  • Third Avenue Management's ten largest holdings make up 50% of its $596M portfolio in Q3 2023.
  • Third Avenue Management opened 2 new positions and closed 1 in Q3 2023.
  • Third Avenue Management's portfolio value fell 1.6% quarter-over-quarter to $596M.

Based on Third Avenue Management's 13F filing for Q3 2023, filed 15 Nov 2023.