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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
+5.19%
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
$2.19B
AUM Growth
-$18.3M
Cap. Flow
-$111M
Cap. Flow %
-5.06%
Top 10 Hldgs %
48.15%
Holding
120
New
6
Increased
36
Reduced
36
Closed
8

Top Buys

Rank Stock Value
1
EOG icon
EOG Resources
EOG
+$15.6M
2
AVT icon
Avnet
AVT
+$13.2M
3
MAC icon
Macerich
MAC
+$7.97M
4
RL icon
Ralph Lauren
RL
+$7.47M
5
TPHS
Trinity Place Holdings Inc.com
TPHS
+$4.93M

Top Sells

Rank Stock Value
1
HAR
Harman International Industries
HAR
+$43.9M
2
AGCO icon
AGCO
AGCO
+$21.7M
3
CVA
Covanta Holding Corporation
CVA
+$18.3M
4
APA icon
APA Corp
APA
+$16.3M
5
PARA
Paramount Global Class B
PARA
+$13.2M

Sector Composition

Rank Sector Weight
1 Real Estate 28.66%
2 Financials 27.25%
3 Consumer Discretionary 15.58%
4 Industrials 10.24%
5 Healthcare 6.38%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
WY icon
1
Weyerhaeuser
WY
$17B
$201M 9.19%
5,919,490
-93,832
-2% -$3.05M
BN icon
2
Brookfield
BN
$92.3B
$157M 7.16%
12,037,774
-11,569
-0.1% -$147K
LEN icon
3
Lennar Class A
LEN
$20.8B
$151M 6.92%
3,106,207
+5,007
+0.2% +$227K
FCE.A
4
DELISTED
Forest City Realty Trust, Inc.
FCE.A
$106M 4.84%
4,864,408
-2,732
-0.1% -$60.4K
RYN icon
5
Rayonier
RYN
$6.06B
$97.8M 4.47%
3,805,188
– –
BNY
6
Bank of New York Mellon
BNY
$110B
$83.5M 3.82%
1,768,136
+8,671
+0.5% +$406K
PNC icon
7
PNC Financial Services
PNC
$96.6B
$67.2M 3.07%
559,122
-73,174
-12% -$8.96M
CMA
8
DELISTED
Comerica
CMA
$66.9M 3.06%
975,344
-62,260
-6% -$4.35M
PNC.WS
9
DELISTED
PNC Financial Services Group Inc
PNC.WS
$62.9M 2.88%
1,186,849
-118,500
-9% -$6.55M
VNO icon
10
Vornado Realty Trust
VNO
$7.13B
$60.1M 2.75%
741,228
– –
WTM icon
11
White Mountains Insurance
WTM
$5.1B
$56.7M 2.59%
64,386
+295
+0.5% +$264K
CVCO icon
12
Cavco Industries
CVCO
$4.37B
$48.5M 2.22%
416,466
-56,453
-12% -$6.13M
FR icon
13
First Industrial Realty Trust
FR
$8.21B
$47.9M 2.19%
1,797,143
-5,800
-0.3% -$155K
Y
14
DELISTED
Alleghany Corp
Y
$47.8M 2.19%
77,789
-4,565
-6% -$2.85M
TRC icon
15
Tejon Ranch
TRC
$438M
$47.4M 2.16%
2,229,078
– –
LOW icon
16
Lowe's Companies
LOW
$117B
$45.9M 2.1%
557,911
-3,000
-0.5% -$230K
TPHS
17
DELISTED
Trinity Place Holdings Inc.com
TPHS
$35.3M 1.61%
4,829,014
+610,000
+14% +$4.93M
AMGN icon
18
Amgen
AMGN
$234B
$34.6M 1.58%
211,084
+822
+0.4% +$137K
JCI icon
19
Johnson Controls International
JCI
$84.6B
$32.1M 1.47%
763,067
+47,343
+7% +$2M
DVN icon
20
Devon Energy
DVN
$52.1B
$32.1M 1.46%
768,306
+3,961
+0.5% +$174K
PARA
21
DELISTED
Paramount Global Class B
PARA
$31.2M 1.43%
449,645
-200,836
-31% -$13.2M
RL icon
22
Ralph Lauren
RL
$21.1B
$29.4M 1.35%
360,653
+90,537
+34% +$7.47M
MAS icon
23
Masco
MAS
$14.4B
$29.1M 1.33%
856,047
+3,453
+0.4% +$115K
AXE
24
DELISTED
Anixter International Inc
AXE
$28.1M 1.28%
354,028
+1,628
+0.5% +$133K
BKD icon
25
Brookdale Senior Living
BKD
$2.8B
$27.8M 1.27%
2,069,954
+46,013
+2% +$649K
1
2 3 4 5

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Third Avenue Management's Q1 2017 Portfolio in Review

As of Q1 2017, Third Avenue Management held 120 positions worth $2.19B, down 0.83% from $2.21B the previous quarter. Its ten largest holdings account for 48% of the portfolio.

Third Avenue Management withdrew a net $111M in Q1 2017, closing 8 positions and reducing 36 holdings. Its most notable exit was Harman International Industries, an estimated $43.9M position sold in full.

By sector, the portfolio is most concentrated in Real Estate at 29% of assets, up from 27% a quarter earlier, followed by Financials and Consumer Discretionary.

Against the trend, Third Avenue Management opened a new position in EOG Resources worth $15.3M.

  • Third Avenue Management's largest Q1 2017 buy was EOG Resources: 156,897 shares worth $15.3M.
  • Third Avenue Management added most to Macerich in Q1 2017, an estimated $7.97M increase.
  • Third Avenue Management's biggest Q1 2017 reduction was Covanta Holding Corporation, cutting an estimated $18.3M.
  • Third Avenue Management fully exited Harman International Industries in Q1 2017, selling an estimated $43.9M.
  • Third Avenue Management's ten largest holdings make up 48% of its $2.19B portfolio in Q1 2017.
  • Third Avenue Management opened 6 new positions and closed 8 in Q1 2017.
  • Third Avenue Management's portfolio value fell 0.83% quarter-over-quarter to $2.19B.

Based on Third Avenue Management's 13F filing for Q1 2017, filed 15 May 2017.