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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
+3.96%
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
$2.22B
AUM Growth
-$29.5M
Cap. Flow
-$108M
Cap. Flow %
-4.86%
Top 10 Hldgs %
49.05%
Holding
118
New
3
Increased
24
Reduced
44
Closed
8
Avg Time Held
10 quarters
Top 10 Avg Time Held
10 quarters
Top 20 Avg Time Held
9.7 quarters

Top Buys

Rank Stock Value
1
KIM icon
Kimco Realty
KIM
+$21.2M
2
MAC icon
Macerich
MAC
+$19.4M
3
JCI icon
Johnson Controls International
JCI
+$17.4M
4
TDW icon
Tidewater
TDW
+$16.9M
5
JBGS icon
JBG SMITH
JBGS
+$10.8M

Top Sells

Rank Stock Value
1
BKD icon
Brookdale Senior Living
BKD
+$30.4M
2
RL icon
Ralph Lauren
RL
+$28.8M
3
AVT icon
Avnet
AVT
+$19.3M
4
LIVN icon
LivaNova
LIVN
+$19.1M
5
BNY icon
Bank of New York Mellon
BNY
+$11.1M

Sector Composition

Rank Sector Weight
1 Real Estate 32.31%
2 Financials 26.33%
3 Consumer Discretionary 12.7%
4 Industrials 10.56%
5 Healthcare 4.46%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow Held Since
WY icon
1
Weyerhaeuser
WY
$13.7B
$192M 8.64%
5,635,761
-16,222
-0.3% -$533K
2013 Q2
17 quarters
BN icon
2
Brookfield
BN
$81.9B
$178M 8.01%
12,053,732
+24,941
+0.2% +$350K
2013 Q2
17 quarters
LEN icon
3
Lennar Class A
LEN
$17.8B
$151M 6.83%
3,014,364
-789
-0% -$39.3K
2016 Q1
6 quarters
FCE.A
4
DELISTED
Forest City Realty Trust, Inc.
FCE.A
$124M 5.59%
4,860,122
+6,200
+0.1% +$152K
2013 Q2
17 quarters
RYN icon
5
Rayonier
RYN
$5.62B
$97.1M 4.38%
3,706,208
+4,079
+0.1% +$106K
2013 Q4
15 quarters
BNY icon
6
Bank of New York Mellon
BNY
$95.7B
$82.2M 3.71%
1,550,304
-212,113
-12% -$11.1M
2013 Q2
17 quarters
PNC.WS icon
7
DELISTED
PNC Financial Services Group Inc
PNC.WS
$79.9M 3.6%
1,186,849
– –
2013 Q2
17 quarters
PNC icon
8
PNC Financial Services
PNC
$87.6B
$65.4M 2.95%
485,612
-73,200
-13% -$9.39M
2014 Q3
12 quarters
CMA icon
9
DELISTED
Comerica
CMA
$64.6M 2.91%
847,570
-123,983
-13% -$8.88M
2013 Q2
17 quarters
FR icon
10
First Industrial Realty Trust
FR
$7.94B
$53.9M 2.43%
1,790,743
+3,500
+0.2% +$106K
2013 Q2
17 quarters
VNO icon
11
Vornado Realty Trust
VNO
$6.32B
$53M 2.39%
690,014
-100,075
-13% -$7.64M
2013 Q2
17 quarters
JCI icon
12
Johnson Controls International
JCI
$94.8B
$47.9M 2.16%
1,189,748
+430,233
+57% +$17.4M
2016 Q2
5 quarters
TRC icon
13
Tejon Ranch
TRC
$446M
$46.7M 2.1%
2,278,003
– –
2013 Q2
17 quarters
MAC icon
14
Macerich
MAC
$6.39B
$46.6M 2.1%
847,701
+346,900
+69% +$19.4M
2015 Q1
10 quarters
CVCO icon
15
Cavco Industries
CVCO
$4.06B
$40M 1.8%
271,200
-64,719
-19% -$8.62M
2013 Q2
17 quarters
AMGN icon
16
Amgen
AMGN
$223B
$39.2M 1.77%
210,124
-306
-0.1% -$54.2K
2016 Q2
5 quarters
Y
17
DELISTED
Alleghany Corp
Y
$38.3M 1.73%
69,217
-8,465
-11% -$4.94M
2013 Q2
17 quarters
LOW icon
18
Lowe's Companies
LOW
$106B
$38M 1.71%
475,611
+600
+0.1% +$45.9K
2013 Q2
17 quarters
TPHS icon
19
DELISTED
Trinity Place Holdings Inc.com
TPHS
$34.4M 1.55%
4,893,514
+10,600
+0.2% +$73.8K
2016 Q1
6 quarters
FPH icon
20
Five Point Holdings
FPH
$315M
$33.6M 1.52%
2,466,661
– –
2017 Q2
1 quarter
FNF icon
21
Fidelity National Financial
FNF
$10.5B
$31.5M 1.42%
957,146
– –
2016 Q1
6 quarters
AXE
22
DELISTED
Anixter International Inc
AXE
$29.9M 1.35%
352,351
-541
-0.2% -$41.6K
2014 Q3
12 quarters
CERN
23
DELISTED
Cerner Corp
CERN
$29.2M 1.31%
408,748
-570
-0.1% -$37.8K
2016 Q4
3 quarters
WTM icon
24
White Mountains Insurance
WTM
$5B
$27.9M 1.26%
32,601
-434
-1% -$373K
2013 Q2
17 quarters
RS icon
25
Reliance Steel & Aluminium
RS
$20.6B
$27.4M 1.24%
359,950
+45,252
+14% +$3.31M
2017 Q2
1 quarter
1
2 3 4 5

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Third Avenue Management's Q3 2017 Portfolio in Review

As of Q3 2017, Third Avenue Management held 118 positions worth $2.22B, down 1.3% from $2.25B the previous quarter. Its ten largest holdings account for 49% of the portfolio.

Third Avenue Management withdrew a net $108M in Q3 2017, closing 8 positions and reducing 44 holdings. Its most notable exit was Brookdale Senior Living, an estimated $30.4M position sold in full.

By sector, the portfolio is most concentrated in Real Estate at 32% of assets, up from 30% a quarter earlier, followed by Financials and Consumer Discretionary.

Against the trend, Third Avenue Management opened a new position in Kimco Realty worth $21.1M.

  • Third Avenue Management's largest Q3 2017 buy was Kimco Realty: 1,080,300 shares worth $21.1M.
  • Third Avenue Management added most to Macerich in Q3 2017, an estimated $19.4M increase.
  • Third Avenue Management's biggest Q3 2017 reduction was Ralph Lauren, cutting an estimated $28.8M.
  • Third Avenue Management fully exited Brookdale Senior Living in Q3 2017, selling an estimated $30.4M.
  • Third Avenue Management's ten largest holdings make up 49% of its $2.22B portfolio in Q3 2017.
  • Third Avenue Management opened 3 new positions and closed 8 in Q3 2017.
  • Third Avenue Management's portfolio value fell 1.3% quarter-over-quarter to $2.22B.

Based on Third Avenue Management's 13F filing for Q3 2017, filed 26 Oct 2017.