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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
+18.3%
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
$714M
AUM Growth
+$37.4M
Cap. Flow
-$57.3M
Cap. Flow %
-8.03%
Top 10 Hldgs %
49.56%
Holding
69
New
2
Increased
13
Reduced
27
Closed
4

Top Buys

Rank Stock Value
1
AMH icon
American Homes 4 Rent
AMH
+$10M
2
ORI icon
Old Republic International
ORI
+$5.07M
3
CMA
Comerica
CMA
+$3.67M
4
WASH icon
Washington Trust Bancorp
WASH
+$2.15M
5
UMBF icon
UMB Financial
UMBF
+$1.34M

Top Sells

Rank Stock Value
1
LEN icon
Lennar Class A
LEN
+$14M
2
PSA icon
Public Storage
PSA
+$12.2M
3
BN icon
Brookfield
BN
+$7.51M
4
LEN.B icon
Lennar Class B
LEN.B
+$6.93M
5
CUBI icon
Customers Bancorp
CUBI
+$5.55M

Sector Composition

Rank Sector Weight
1 Real Estate 43.29%
2 Consumer Discretionary 16.5%
3 Financials 15.7%
4 Industrials 12.15%
5 Materials 6.61%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
DORM icon
51
Dorman Products
DORM
$4.24B
$2.92M 0.41%
43,600
– –
BATRA icon
52
Atlanta Braves Holdings Series A
BATRA
$3.63B
$2.46M 0.35%
122,715
+54,000
+79% +$1.1M
CARE icon
53
Carter Bankshares
CARE
$741M
$2.17M 0.3%
268,982
– –
WASH icon
54
Washington Trust Bancorp
WASH
$698M
$2.16M 0.3%
+65,834
New +$2.15M
GRBK icon
55
Green Brick Partners
GRBK
$3.14B
$948K 0.13%
80,000
– –
NXRT
56
NexPoint Residential Trust
NXRT
$678M
$814K 0.11%
23,000
– –
CUBI icon
57
Customers Bancorp
CUBI
$2.65B
$762K 0.11%
63,347
-497,774
-89% -$5.55M
JCAP
58
DELISTED
Jernigan Capital, Inc.
JCAP
$665K 0.09%
48,582
– –
ROIC
59
DELISTED
Retail Opportunity Investments Corp.
ROIC
$624K 0.09%
55,000
– –
PCH
60
DELISTED
PotlatchDeltic
PCH
$609K 0.09%
16,000
– –
CIO
61
DELISTED
City Office REIT
CIO
$554K 0.08%
55,000
– –
STC icon
62
Stewart Information Services
STC
$2.19B
$553K 0.08%
17,000
– –
MNR
63
DELISTED
Monmouth Real Estate Investment Corp
MNR
$435K 0.06%
30,000
– –
RMR icon
64
The RMR Group
RMR
$353M
$413K 0.06%
14,000
– –
CTO
65
CTO Realty Growth
CTO
$751M
$316K 0.04%
29,472
– –
G icon
66
Genpact
G
$5.24B
– –
-85,591
Closed -$2.5M
IYR icon
67
iShares US Real Estate ETF
IYR
$4.83B
– –
-9,000
Closed -$627K
SMHI icon
68
SEACOR Marine Holdings
SMHI
$214M
– –
-358,074
Closed -$1.57M
RESI
69
DELISTED
Front Yard Residential Corporation Common Stock
RESI
– –
-30,000
Closed -$359K
1 2
3

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CPC
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Third Avenue Management's Q2 2020 Portfolio in Review

As of Q2 2020, Third Avenue Management held 69 positions worth $714M, up 5.5% from $676M the previous quarter. Its ten largest holdings account for 50% of the portfolio.

Third Avenue Management withdrew a net $57.3M in Q2 2020, closing 4 positions and reducing 27 holdings. Its most notable exit was Genpact, an estimated $2.5M position sold in full.

By sector, the portfolio is most concentrated in Real Estate at 43% of assets, down from 46% a quarter earlier, followed by Consumer Discretionary and Financials.

Against the trend, Third Avenue Management opened a new position in American Homes 4 Rent worth $10.8M.

  • Third Avenue Management's largest Q2 2020 buy was American Homes 4 Rent: 402,492 shares worth $10.8M.
  • Third Avenue Management added most to Old Republic International in Q2 2020, an estimated $5.07M increase.
  • Third Avenue Management's biggest Q2 2020 reduction was Lennar Class A, cutting an estimated $14M.
  • Third Avenue Management fully exited Genpact in Q2 2020, selling an estimated $2.5M.
  • Third Avenue Management's ten largest holdings make up 50% of its $714M portfolio in Q2 2020.
  • Third Avenue Management opened 2 new positions and closed 4 in Q2 2020.
  • Third Avenue Management's portfolio value rose 5.5% quarter-over-quarter to $714M.

Based on Third Avenue Management's 13F filing for Q2 2020, filed 14 Aug 2020.