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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
Y
76
DELISTED
Alleghany Corp
Y
– –
-70,805
Closed -$40.7M
LM
77
DELISTED
Legg Mason, Inc.
LM
– –
-187,411
Closed -$6.51M
1 2 3
4

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ACP
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MC
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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.