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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
+6.09%
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
$2.08B
AUM Growth
-$136M
Cap. Flow
-$249M
Cap. Flow %
-11.94%
Top 10 Hldgs %
51.28%
Holding
113
New
3
Increased
20
Reduced
22
Closed
21

Top Buys

Rank Stock Value
1
TDW icon
Tidewater
TDW
+$27.3M
2
UHAL icon
U-Haul Holding Co
UHAL
+$20.7M
3
FCE.A
Forest City Realty Trust, Inc.
FCE.A
+$20.5M
4
HCC icon
Warrior Met Coal
HCC
+$17.2M
5
TRC icon
Tejon Ranch
TRC
+$7.75M

Top Sells

Rank Stock Value
1
CERN
Cerner Corp
CERN
+$29.2M
2
BNY
Bank of New York Mellon
BNY
+$24.6M
3
CMA
Comerica
CMA
+$24.2M
4
PKY
Parkway, Inc.
PKY
+$24.2M
5
DVN icon
Devon Energy
DVN
+$22.7M

Sector Composition

Rank Sector Weight
1 Real Estate 33.26%
2 Financials 26.21%
3 Consumer Discretionary 14.73%
4 Industrials 11.01%
5 Energy 3.63%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
PRGS icon
76
Progress Software
PRGS
$1.84B
$3.73M 0.18%
87,555
– –
CNH
77
CNH Industrial
CNH
$18.8B
$3.55M 0.17%
304,600
– –
ABM icon
78
ABM Industries
ABM
$2.77B
$3.39M 0.16%
89,857
– –
CSGS
79
DELISTED
CSG Systems International
CSGS
$2.94M 0.14%
67,198
– –
DORM icon
80
Dorman Products
DORM
$3.84B
$2.67M 0.13%
43,600
– –
JEF icon
81
Jefferies Financial Group
JEF
$12.2B
$2.66M 0.13%
111,973
– –
CSWC icon
82
Capital Southwest
CSWC
$1.62B
$2.49M 0.12%
150,348
– –
CCS icon
83
Century Communities
CCS
$1.97B
$2.23M 0.11%
71,671
– –
KW
84
DELISTED
Kennedy-Wilson Holdings
KW
$2.17M 0.1%
124,753
-1,054,800
-89% -$19.9M
VLY icon
85
Valley National Bancorp
VLY
$7.69B
$2.13M 0.1%
189,675
– –
SMP icon
86
Standard Motor Products
SMP
$827M
$2.11M 0.1%
46,947
– –
CMA.WS
87
DELISTED
Comerica Incorporated Ws
CMA.WS
$1.94M 0.09%
33,300
– –
CDR
88
DELISTED
Cedar Realty Trust, Inc
CDR
$1.07M 0.05%
26,621
– –
CTT
89
DELISTED
CATCHMARK TIMBER TRUST, INC.
CTT
$1.05M 0.05%
80,000
– –
NXRT
90
NexPoint Residential Trust
NXRT
$602M
$484K 0.02%
17,300
-7,700
-31% -$204K
HAYN
91
DELISTED
Haynes International, Inc.
HAYN
$158K 0.01%
4,900
-125,543
-96% -$4.28M
TTE icon
92
TotalEnergies
TTE
$191B
$55K ﹤0.01%
984
– –
AVT icon
93
Avnet
AVT
$7.27B
– –
-13,379
Closed -$526K
DVN icon
94
Devon Energy
DVN
$52.1B
– –
-618,038
Closed -$22.7M
LIVN icon
95
LivaNova
LIVN
$4.43B
– –
-219,422
Closed -$15.4M
NX icon
96
Quanex
NX
$892M
– –
-214,700
Closed -$4.93M
PARA
97
DELISTED
Paramount Global Class B
PARA
– –
-353,287
Closed -$20.5M
PLAB icon
98
Photronics
PLAB
$1.64B
– –
-467,900
Closed -$4.14M
RL icon
99
Ralph Lauren
RL
$21.1B
– –
-9,556
Closed -$844K
TNET icon
100
TriNet
TNET
$3.23B
– –
-120,700
Closed -$4.06M
1 2 3
4
5

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Third Avenue Management's Q4 2017 Portfolio in Review

As of Q4 2017, Third Avenue Management held 113 positions worth $2.08B, down 6.1% from $2.22B the previous quarter. Its ten largest holdings account for 51% of the portfolio.

Third Avenue Management withdrew a net $249M in Q4 2017, closing 21 positions and reducing 22 holdings. Its most notable exit was Cerner Corp, an estimated $29.2M position sold in full.

By sector, the portfolio is most concentrated in Real Estate at 33% of assets, up from 32% a quarter earlier, followed by Financials and Consumer Discretionary.

Against the trend, Third Avenue Management opened a new position in U-Haul Holding Co worth $20.9M.

  • Third Avenue Management's largest Q4 2017 buy was U-Haul Holding Co: 552,860 shares worth $20.9M.
  • Third Avenue Management added most to Tidewater in Q4 2017, an estimated $27.3M increase.
  • Third Avenue Management's biggest Q4 2017 reduction was Bank of New York Mellon, cutting an estimated $24.6M.
  • Third Avenue Management fully exited Cerner Corp in Q4 2017, selling an estimated $29.2M.
  • Third Avenue Management's ten largest holdings make up 51% of its $2.08B portfolio in Q4 2017.
  • Third Avenue Management opened 3 new positions and closed 21 in Q4 2017.
  • Third Avenue Management's portfolio value fell 6.1% quarter-over-quarter to $2.08B.

Based on Third Avenue Management's 13F filing for Q4 2017, filed 14 Feb 2018.