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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
-1.24%
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
$1.77B
AUM Growth
-$247M
Cap. Flow
-$215M
Cap. Flow %
-12.14%
Top 10 Hldgs %
55.33%
Holding
77
New
1
Increased
28
Reduced
21
Closed
4

Top Buys

Rank Stock Value
1
FPH icon
Five Point Holdings
FPH
+$17M
2
JBGS
JBG SMITH
JBGS
+$11.3M
3
HA
Hawaiian Holdings, Inc.
HA
+$6.96M
4
AHL
ASPEN Insurance Holding Limited
AHL
+$4.19M
5
HCC icon
Warrior Met Coal
HCC
+$3.58M

Top Sells

Rank Stock Value
1
FCE.A
Forest City Realty Trust, Inc.
FCE.A
+$169M
2
Y
Alleghany Corp
Y
+$40.7M
3
TRC icon
Tejon Ranch
TRC
+$13M
4
WY icon
Weyerhaeuser
WY
+$12.4M
5
FR icon
First Industrial Realty Trust
FR
+$9.07M

Sector Composition

Rank Sector Weight
1 Real Estate 36.9%
2 Financials 22.96%
3 Consumer Discretionary 14.35%
4 Industrials 9.2%
5 Materials 4.59%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
BMCH
51
DELISTED
BMC Stock Holdings, Inc
BMCH
$5.53M 0.31%
296,399
-24,328
-8% -$528K
SEB icon
52
Seaboard Corp
SEB
$4.52B
$5.26M 0.3%
1,417
+2
+0.1% +$7.45K
UNF icon
53
Unifirst Corp
UNF
$5.32B
$5.21M 0.29%
30,002
– –
WSBC icon
54
WesBanco
WSBC
$3.95B
$4.96M 0.28%
111,300
– –
G icon
55
Genpact
G
$5.3B
$4.96M 0.28%
162,066
– –
ALCO icon
56
Alico
ALCO
$286M
$4.75M 0.27%
140,451
– –
ALG icon
57
Alamo Group
ALG
$2.01B
$4.28M 0.24%
46,706
– –
SAFM
58
DELISTED
Sanderson Farms Inc
SAFM
$3.68M 0.21%
35,607
+20,200
+131% +$2.09M
DORM icon
59
Dorman Products
DORM
$4.01B
$3.35M 0.19%
43,600
– –
AMN icon
60
AMN Healthcare
AMN
$1.28B
$3.05M 0.17%
55,755
-31,994
-36% -$1.83M
CSWC icon
61
Capital Southwest
CSWC
$1.46B
$2.67M 0.15%
140,574
-9,774
-7% -$184K
ASIX icon
62
AdvanSix
ASIX
$567M
$2.6M 0.15%
+76,658
New +$2.75M
SMP icon
63
Standard Motor Products
SMP
$861M
$2.31M 0.13%
46,947
– –
FRPH icon
64
FRP Holdings
FRPH
$449M
$2.25M 0.13%
72,422
– –
CMA.WS
65
DELISTED
Comerica Incorporated Ws
CMA.WS
$2.03M 0.11%
32,900
-400
-1% -$26.4K
CCS icon
66
Century Communities
CCS
$2B
$1.09M 0.06%
41,671
-30,000
-42% -$898K
CDR
67
DELISTED
Cedar Realty Trust, Inc
CDR
$1.05M 0.06%
34,141
– –
RESI
68
DELISTED
Front Yard Residential Corporation Common Stock
RESI
$994K 0.06%
91,609
+26,609
+41% +$297K
CTT
69
DELISTED
CATCHMARK TIMBER TRUST, INC.
CTT
$915K 0.05%
80,000
– –
NXRT
70
NexPoint Residential Trust
NXRT
$665M
$575K 0.03%
17,300
– –
GRBK icon
71
Green Brick Partners
GRBK
$3.13B
$538K 0.03%
53,200
+3,200
+6% +$32.1K
JCAP
72
DELISTED
Jernigan Capital, Inc.
JCAP
$483K 0.03%
25,000
– –
TTE icon
73
TotalEnergies
TTE
$193B
$40K ﹤0.01%
612
-201
-25% -$12.6K
ARCO icon
74
Arcos Dorados Holdings
ARCO
$1.73B
– –
-998,171
Closed -$6.75M
DB icon
75
Deutsche Bank
DB
$66.3B
– –
-322,000
Closed -$3.42M
1 2
3
4

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AMG
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Third Avenue Management's Q3 2018 Portfolio in Review

As of Q3 2018, Third Avenue Management held 77 positions worth $1.77B, down 12% from $2.02B the previous quarter. Its ten largest holdings account for 55% of the portfolio.

Third Avenue Management withdrew a net $215M in Q3 2018, closing 4 positions and reducing 21 holdings. Its most notable exit was Alleghany Corp, an estimated $40.7M position sold in full.

By sector, the portfolio is most concentrated in Real Estate at 37% of assets, down from 43% a quarter earlier, followed by Financials and Consumer Discretionary.

Against the trend, Third Avenue Management opened a new position in AdvanSix worth $2.6M.

  • Third Avenue Management's largest Q3 2018 buy was AdvanSix: 76,658 shares worth $2.6M.
  • Third Avenue Management added most to Five Point Holdings in Q3 2018, an estimated $17M increase.
  • Third Avenue Management's biggest Q3 2018 reduction was Forest City Realty Trust, Inc., cutting an estimated $169M.
  • Third Avenue Management fully exited Alleghany Corp in Q3 2018, selling an estimated $40.7M.
  • Third Avenue Management's ten largest holdings make up 55% of its $1.77B portfolio in Q3 2018.
  • Third Avenue Management opened 1 new position and closed 4 in Q3 2018.
  • Third Avenue Management's portfolio value fell 12% quarter-over-quarter to $1.77B.

Based on Third Avenue Management's 13F filing for Q3 2018, filed 9 Nov 2018.