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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
+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
(-6.1%)
Cap. Flow
-$249M
Cap. Flow
% of AUM
-11.94%
Top 10 Holdings %
Top 10 Hldgs %
51.28%
Holding
113
New
3
Increased
20
Reduced
22
Closed
21
Avg Time Held
2.8
years
Top 10 Avg Time Held
2.3
years
Top 20 Avg Time Held
2.6
years
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Tidewater
TDW
|
+$27.3M |
| 2 |
U-Haul Holding Co
UHAL
|
+$20.7M |
| 3 |
FCE.A
Forest City Realty Trust, Inc.
FCE.A
|
+$20.5M |
| 4 |
Warrior Met Coal
HCC
|
+$17.2M |
| 5 |
Tejon Ranch
TRC
|
+$7.75M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
CERN
Cerner Corp
CERN
|
+$29.2M |
| 2 |
Bank of New York Mellon
BNY
|
+$24.6M |
| 3 |
Comerica
CMA
|
+$24.2M |
| 4 |
PKY
Parkway, Inc.
PKY
|
+$24.2M |
| 5 |
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 | Held Since | |
|---|---|---|---|---|---|---|---|
101
Valmont Industries
VMI
$8.98B
| – | – |
-1,799
| Closed | -$285K | – |
|
102
Vodafone
VOD
$35.9B
| – | – |
-1,259
| Closed | -$36K | – |
|
103
World Kinect Corp
WKC
$1.88B
| – | – |
-175,419
| Closed | -$5.95M | – |
|
104
DELISTED
Patterson Companies, Inc.
PDCO
| – | – |
-131,100
| Closed | -$5.07M | – |
|
105
DELISTED
Barnes Group Inc.
B
| – | – |
-67,600
| Closed | -$4.76M | – |
|
|
HZN
106
DELISTED
Horizon Global Corporation
HZN
| – | – |
-268,100
| Closed | -$4.73M | – |
|
|
CERN
107
DELISTED
Cerner Corp
CERN
| – | – |
-408,748
| Closed | -$29.2M | – |
|
|
CVA
108
DELISTED
Covanta Holding Corporation
CVA
| – | – |
-513,533
| Closed | -$7.63M | – |
|
|
CORE
109
DELISTED
Core Mark Holding Co., Inc.
CORE
| – | – |
-91,661
| Closed | -$2.95M | – |
|
|
CBM
110
DELISTED
Cambrex Corporation
CBM
| – | – |
-63,085
| Closed | -$3.47M | – |
|
|
LABL
111
DELISTED
Multi-Color Corp
LABL
| – | – |
-60,262
| Closed | -$4.94M | – |
|
|
PKY
112
DELISTED
Parkway, Inc.
PKY
| – | – |
-1,050,762
| Closed | -$24.2M | – |
|
|
SHPG
113
DELISTED
Shire pic
SHPG
| – | – |
-1,491
| Closed | -$229K | – |
|
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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.