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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
-19.89%
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
$1.24B
AUM Growth
-$533M
Cap. Flow
-$218M
Cap. Flow %
-17.63%
Top 10 Hldgs %
58.07%
Holding
78
New
5
Increased
24
Reduced
16
Closed
17

Top Buys

Rank Stock Value
1
PNC icon
PNC Financial Services
PNC
+$30.8M
2
HA
Hawaiian Holdings, Inc.
HA
+$21M
3
RIG icon
Transocean
RIG
+$15.4M
4
DD icon
DuPont de Nemours
DD
+$14.2M
5
CUBI icon
Customers Bancorp
CUBI
+$10.4M

Top Sells

Rank Stock Value
1
PNC.WS
PNC Financial Services Group Inc
PNC.WS
+$61.8M
2
BN icon
Brookfield
BN
+$52.9M
3
BNY
Bank of New York Mellon
BNY
+$33.2M
4
ORIG
Ocean Rig UDW Inc. Class A Common Shares
ORIG
+$32.4M
5
ZION icon
Zions Bancorporation
ZION
+$28.3M

Sector Composition

Rank Sector Weight
1 Real Estate 40.42%
2 Financials 18.43%
3 Consumer Discretionary 15.88%
4 Industrials 10.6%
5 Materials 7.09%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
CMA.WS
76
DELISTED
Comerica Incorporated Ws
CMA.WS
– –
-32,900
Closed -$2.03M
ORIG
77
DELISTED
Ocean Rig UDW Inc. Class A Common Shares
ORIG
– –
-936,650
Closed -$32.4M
PNC.WS
78
DELISTED
PNC Financial Services Group Inc
PNC.WS
– –
-896,250
Closed -$61.8M
1 2 3
4

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B
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CWM
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LWP
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FGA
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BVC
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APM
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DCM
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Third Avenue Management's Q4 2018 Portfolio in Review

As of Q4 2018, Third Avenue Management held 78 positions worth $1.24B, down 30% from $1.77B the previous quarter. Its ten largest holdings account for 58% of the portfolio.

Third Avenue Management withdrew a net $218M in Q4 2018, closing 17 positions and reducing 16 holdings. Its most notable exit was PNC Financial Services Group Inc, an estimated $61.8M position sold in full.

By sector, the portfolio is most concentrated in Real Estate at 40% of assets, up from 37% a quarter earlier, followed by Financials and Consumer Discretionary.

Against the trend, Third Avenue Management opened a new position in Transocean worth $10.5M.

  • Third Avenue Management's largest Q4 2018 buy was Transocean: 1,510,628 shares worth $10.5M.
  • Third Avenue Management added most to PNC Financial Services in Q4 2018, an estimated $30.8M increase.
  • Third Avenue Management's biggest Q4 2018 reduction was Brookfield, cutting an estimated $52.9M.
  • Third Avenue Management fully exited PNC Financial Services Group Inc in Q4 2018, selling an estimated $61.8M.
  • Third Avenue Management's ten largest holdings make up 58% of its $1.24B portfolio in Q4 2018.
  • Third Avenue Management opened 5 new positions and closed 17 in Q4 2018.
  • Third Avenue Management's portfolio value fell 30% quarter-over-quarter to $1.24B.

Based on Third Avenue Management's 13F filing for Q4 2018, filed 13 Feb 2019.