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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
+2.75%
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
$743M
AUM Growth
-$12.7M
(-1.7%)
Cap. Flow
-$24.4M
Cap. Flow
% of AUM
-3.29%
Top 10 Holdings %
Top 10 Hldgs %
49.59%
Holding
63
New
3
Increased
10
Reduced
12
Closed
4
Avg Time Held
3.9
years
Top 10 Avg Time Held
3.1
years
Top 20 Avg Time Held
2.9
years
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Valaris
VAL
|
+$8.91M |
| 2 |
APTS
Preferred Apartment Communities, Inc.
APTS
|
+$2.91M |
| 3 |
Sphere Entertainment
SPHR
|
+$2.06M |
| 4 |
Hamilton Beach Brands
HBB
|
+$991K |
| 5 |
Cal-Maine
CALM
|
+$839K |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Eagle Materials
EXP
|
+$12.4M |
| 2 |
Lennar Class A
LEN
|
+$8.76M |
| 3 |
Mohawk Industries
MHK
|
+$5.73M |
| 4 |
JBG SMITH
JBGS
|
+$5.34M |
| 5 |
Macerich
MAC
|
+$3.01M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Real Estate | 37.26% |
| 2 | Financials | 24.13% |
| 3 | Consumer Discretionary | 11.88% |
| 4 | Industrials | 11.19% |
| 5 | Materials | 6.18% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
|
51
Sphere Entertainment
SPHR
$3.91B
| $2M | 0.27% |
+27,448
| New | +$2.06M |
2021 Q3
0 quarters
|
|
52
DELISTED
Retail Opportunity Investments Corp.
ROIC
| $1.31M | 0.18% |
75,000
| – | – |
2020 Q1
6 quarters
|
|
53
Stewart Information Services
STC
$1.59B
| $1.08M | 0.14% |
17,000
| – | – |
2020 Q1
6 quarters
|
|
54
CTO Realty Growth
CTO
$772M
| $1.04M | 0.14% |
57,879
| – | – |
2020 Q1
6 quarters
|
|
55
DELISTED
PotlatchDeltic
PCH
| $1.03M | 0.14% |
20,000
| – | – |
2020 Q1
6 quarters
|
|
56
NexPoint Residential Trust
NXRT
$474M
| $805K | 0.11% |
13,000
| – | – |
2020 Q1
6 quarters
|
|
57
The RMR Group
RMR
$319M
| $770K | 0.1% |
23,000
| – | – |
2020 Q1
6 quarters
|
|
58
DELISTED
Monmouth Real Estate Investment Corp
MNR
| $560K | 0.08% |
30,000
| – | – |
2020 Q1
6 quarters
|
|
59
Green Brick Partners
GRBK
$2.67B
| $329K | 0.04% |
16,000
| – | – |
2018 Q2
13 quarters
|
|
|
CIO
60
DELISTED
City Office REIT
CIO
| – | – |
-46,000
| Closed | -$572K | – |
|
|
61
Eagle Materials
EXP
$5.23B
| – | – |
-86,977
| Closed | -$12.4M | – |
|
|
62
Lennar Class A
LEN
$18.5B
| – | – |
-93,772
| Closed | -$8.76M | – |
|
|
63
Macerich
MAC
$6.55B
| – | – |
-164,679
| Closed | -$3.01M | – |
|
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Third Avenue Management's Q3 2021 Portfolio in Review
As of Q3 2021, Third Avenue Management held 63 positions worth $743M, down 1.7% from $756M the previous quarter. Its ten largest holdings account for 50% of the portfolio.
Third Avenue Management withdrew a net $24.4M in Q3 2021, closing 4 positions and reducing 12 holdings. Its most notable exit was Eagle Materials, an estimated $12.4M position sold in full.
By sector, the portfolio is most concentrated in Real Estate at 37% of assets, down from 38% a quarter earlier, followed by Financials and Consumer Discretionary.
Against the trend, Third Avenue Management opened a new position in Valaris worth $10.8M.
- Third Avenue Management's largest Q3 2021 buy was Valaris: 310,047 shares worth $10.8M.
- Third Avenue Management added most to Hamilton Beach Brands in Q3 2021, an estimated $991K increase.
- Third Avenue Management's biggest Q3 2021 reduction was Mohawk Industries, cutting an estimated $5.73M.
- Third Avenue Management fully exited Eagle Materials in Q3 2021, selling an estimated $12.4M.
- Third Avenue Management's ten largest holdings make up 50% of its $743M portfolio in Q3 2021.
- Third Avenue Management opened 3 new positions and closed 4 in Q3 2021.
- Third Avenue Management's portfolio value fell 1.7% quarter-over-quarter to $743M.
Based on Third Avenue Management's 13F filing for Q3 2021, filed 12 Nov 2021.