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TAM

Third Avenue Management Portfolio holdings

AUM $625M
1-Year Est. Return 48.93%
This Fund
S&P 500
This Quarter Est. Return
-1.59%
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
$1.97B
AUM Growth
-$117M
Cap. Flow
-$73.6M
Cap. Flow %
-3.75%
Top 10 Hldgs %
54.31%
Holding
97
New
5
Increased
24
Reduced
8
Closed
19

Top Buys

Rank Stock Value
1
AKR icon
Acadia Realty Trust
AKR
+$44.7M
2
FCE.A
Forest City Realty Trust, Inc.
FCE.A
+$29.9M
3
MAC icon
Macerich
MAC
+$22.4M
4
ORIG
Ocean Rig UDW Inc. Class A Common Shares
ORIG
+$21.5M
5
HCC icon
Warrior Met Coal
HCC
+$17M

Top Sells

Rank Stock Value
1
JCI icon
Johnson Controls International
JCI
+$46.8M
2
PNC icon
PNC Financial Services
PNC
+$43.7M
3
AMGN icon
Amgen
AMGN
+$37.7M
4
RS icon
Reliance Steel & Aluminium
RS
+$30.9M
5
EOG icon
EOG Resources
EOG
+$26.9M

Sector Composition

Rank Sector Weight
1 Real Estate 37.69%
2 Financials 25.01%
3 Consumer Discretionary 15.77%
4 Industrials 8.56%
5 Energy 4.31%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
PNC icon
51
PNC Financial Services
PNC
$96.6B
$6.04M 0.31%
39,960
-281,620
-88% -$43.7M
SP
52
DELISTED
SP Plus Corporation
SP
$5.93M 0.3%
166,523
– –
UMBF icon
53
UMB Financial
UMBF
$11B
$5.89M 0.3%
81,391
– –
VC icon
54
Visteon
VC
$2.72B
$5.85M 0.3%
53,052
-2,067
-4% -$259K
PRSU
55
Pursuit Attractions and Hospitality Inc
PRSU
$1.36B
$5.68M 0.29%
108,235
– –
FIX icon
56
Comfort Systems
FIX
$53.5B
$5.56M 0.28%
134,697
– –
SMHI icon
57
SEACOR Marine Holdings
SMHI
$255M
$5.55M 0.28%
+291,900
New +$4.65M
SEB icon
58
Seaboard Corp
SEB
$3.75B
$5.5M 0.28%
1,289
+352
+38% +$1.47M
CSGS
59
DELISTED
CSG Systems International
CSGS
$5.48M 0.28%
120,914
+53,716
+80% +$2.46M
DST
60
DELISTED
DST Systems Inc.
DST
$5.26M 0.27%
62,900
– –
CZZ
61
DELISTED
Cosan Limited
CZZ
$5.25M 0.27%
504,937
-58,063
-10% -$636K
G icon
62
Genpact
G
$6.39B
$5.18M 0.26%
162,066
– –
NSIT icon
63
Insight Enterprises
NSIT
$4.57B
$5.16M 0.26%
147,700
– –
ALG icon
64
Alamo Group
ALG
$2.01B
$5.13M 0.26%
46,706
– –
UNF icon
65
Unifirst Corp
UNF
$5.1B
$4.83M 0.25%
29,910
– –
WSBC icon
66
WesBanco
WSBC
$3.88B
$4.71M 0.24%
111,300
– –
ALCO icon
67
Alico
ALCO
$300M
$3.82M 0.19%
140,451
– –
DORM icon
68
Dorman Products
DORM
$3.84B
$2.89M 0.15%
43,600
– –
CSWC icon
69
Capital Southwest
CSWC
$1.62B
$2.56M 0.13%
150,348
– –
CMA.WS
70
DELISTED
Comerica Incorporated Ws
CMA.WS
$2.28M 0.12%
33,300
– –
JEF icon
71
Jefferies Financial Group
JEF
$12.2B
$2.28M 0.12%
111,973
– –
SMP icon
72
Standard Motor Products
SMP
$827M
$2.23M 0.11%
46,947
– –
CCS icon
73
Century Communities
CCS
$1.97B
$2.15M 0.11%
71,671
– –
FRPH icon
74
FRP Holdings
FRPH
$426M
$2.01M 0.1%
+71,864
New +$1.82M
CTT
75
DELISTED
CATCHMARK TIMBER TRUST, INC.
CTT
$998K 0.05%
80,000
– –
1 2
3
4

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Third Avenue Management's Q1 2018 Portfolio in Review

As of Q1 2018, Third Avenue Management held 97 positions worth $1.97B, down 5.6% from $2.08B the previous quarter. Its ten largest holdings account for 54% of the portfolio.

Third Avenue Management withdrew a net $73.6M in Q1 2018, closing 19 positions and reducing 8 holdings. Its most notable exit was Johnson Controls International, an estimated $46.8M position sold in full.

By sector, the portfolio is most concentrated in Real Estate at 38% of assets, up from 33% a quarter earlier, followed by Financials and Consumer Discretionary.

Against the trend, Third Avenue Management opened a new position in Acadia Realty Trust worth $44.8M.

  • Third Avenue Management's largest Q1 2018 buy was Acadia Realty Trust: 1,822,246 shares worth $44.8M.
  • Third Avenue Management added most to Forest City Realty Trust, Inc. in Q1 2018, an estimated $29.9M increase.
  • Third Avenue Management's biggest Q1 2018 reduction was PNC Financial Services, cutting an estimated $43.7M.
  • Third Avenue Management fully exited Johnson Controls International in Q1 2018, selling an estimated $46.8M.
  • Third Avenue Management's ten largest holdings make up 54% of its $1.97B portfolio in Q1 2018.
  • Third Avenue Management opened 5 new positions and closed 19 in Q1 2018.
  • Third Avenue Management's portfolio value fell 5.6% quarter-over-quarter to $1.97B.

Based on Third Avenue Management's 13F filing for Q1 2018, filed 14 May 2018.