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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
CDR
76
DELISTED
Cedar Realty Trust, Inc
CDR
$693K 0.04%
26,621
– –
NXRT
77
NexPoint Residential Trust
NXRT
$602M
$430K 0.02%
17,300
– –
TTE icon
78
TotalEnergies
TTE
$191B
$57K ﹤0.01%
984
– –
ABM icon
79
ABM Industries
ABM
$2.77B
– –
-89,857
Closed -$3.39M
AMGN icon
80
Amgen
AMGN
$234B
– –
-216,733
Closed -$37.7M
EOG icon
81
EOG Resources
EOG
$75.2B
– –
-248,842
Closed -$26.9M
JCI icon
82
Johnson Controls International
JCI
$84.6B
– –
-1,228,339
Closed -$46.8M
KIM icon
83
Kimco Realty
KIM
$16B
– –
-1,080,300
Closed -$19.6M
KW
84
DELISTED
Kennedy-Wilson Holdings
KW
– –
-124,753
Closed -$2.17M
MAS icon
85
Masco
MAS
$14.4B
– –
-558,114
Closed -$24.5M
NTCT icon
86
NETSCOUT
NTCT
$2.84B
– –
-192,244
Closed -$5.85M
PRGS icon
87
Progress Software
PRGS
$1.84B
– –
-87,555
Closed -$3.73M
RS icon
88
Reliance Steel & Aluminium
RS
$19.8B
– –
-359,937
Closed -$30.9M
SYNA icon
89
Synaptics
SYNA
$3.72B
– –
-96,807
Closed -$3.87M
VLY icon
90
Valley National Bancorp
VLY
$7.69B
– –
-189,675
Closed -$2.13M
CNH
91
CNH Industrial
CNH
$18.8B
– –
-304,600
Closed -$3.55M
HAYN
92
DELISTED
Haynes International, Inc.
HAYN
– –
-4,900
Closed -$158K
PDCE
93
DELISTED
PDC Energy, Inc.
PDCE
– –
-79,000
Closed -$4.07M
AXE
94
DELISTED
Anixter International Inc
AXE
– –
-58,456
Closed -$4.44M
CRZO
95
DELISTED
Carrizo Oil & Gas Inc
CRZO
– –
-177,853
Closed -$3.79M
SYNT
96
DELISTED
Syntel Inc
SYNT
– –
-229,006
Closed -$5.26M
FNSR
97
DELISTED
Finisar Corp
FNSR
– –
-201,400
Closed -$4.1M
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.