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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
+1.62%
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
$2.02B
AUM Growth
+$51.4M
Cap. Flow
+$21.7M
Cap. Flow %
1.07%
Top 10 Hldgs %
55.73%
Holding
84
New
6
Increased
32
Reduced
12
Closed
8
Avg Time Held
11.9 quarters
Top 10 Avg Time Held
8.7 quarters
Top 20 Avg Time Held
10.6 quarters

Top Buys

Rank Stock Value
1
FPH icon
Five Point Holdings
FPH
+$75.3M
2
HCC icon
Warrior Met Coal
HCC
+$32.8M
3
LEN.B icon
Lennar Class B
LEN.B
+$28.6M
4
MAC icon
Macerich
MAC
+$20.6M
5
HA icon
Hawaiian Holdings, Inc.
HA
+$15.4M

Top Sells

Rank Stock Value
1
CVCO icon
Cavco Industries
CVCO
+$47.1M
2
RYN icon
Rayonier
RYN
+$26.4M
3
TRC icon
Tejon Ranch
TRC
+$19.9M
4
BNY icon
Bank of New York Mellon
BNY
+$16.9M
5
KEY icon
KeyCorp
KEY
+$16.6M

Sector Composition

Rank Sector Weight
1 Real Estate 42.65%
2 Financials 22.1%
3 Consumer Discretionary 13.35%
4 Industrials 8.47%
5 Energy 4.44%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow Held Since
WY icon
1
Weyerhaeuser
WY
$13.6B
$184M 9.11%
5,042,034
-13,177
-0.3% -$482K
2013 Q2
20 quarters
FCE.A
2
DELISTED
Forest City Realty Trust, Inc.
FCE.A
$164M 8.13%
7,186,748
+151,542
+2% +$3.11M
2013 Q2
20 quarters
BN icon
3
Brookfield
BN
$82.2B
$163M 8.08%
11,265,800
-246,943
-2% -$3.52M
2013 Q2
20 quarters
LEN icon
4
Lennar Class A
LEN
$17.8B
$138M 6.84%
2,713,880
-8,611
-0.3% -$451K
2016 Q1
9 quarters
FPH icon
5
Five Point Holdings
FPH
$316M
$97.6M 4.84%
8,676,526
+6,007,552
+225% +$75.3M
2017 Q2
4 quarters
RYN icon
6
Rayonier
RYN
$5.61B
$91.6M 4.54%
2,609,853
-770,817
-23% -$26.4M
2013 Q4
18 quarters
MAC icon
7
Macerich
MAC
$6.33B
$89.8M 4.45%
1,580,774
+363,613
+30% +$20.6M
2015 Q1
13 quarters
HCC icon
8
Warrior Met Coal
HCC
$4.93B
$69.4M 3.44%
2,515,767
+1,243,282
+98% +$32.8M
2017 Q4
2 quarters
TDW icon
9
Tidewater
TDW
$4.38B
$65.4M 3.24%
2,259,154
+26,106
+1% +$817K
2017 Q3
3 quarters
PNC.WS icon
10
DELISTED
PNC Financial Services Group Inc
PNC.WS
$61.8M 3.06%
896,250
– –
2013 Q2
20 quarters
VNO icon
11
Vornado Realty Trust
VNO
$6.36B
$61.6M 3.05%
833,430
+1,731
+0.2% +$120K
2013 Q2
20 quarters
FR icon
12
First Industrial Realty Trust
FR
$7.94B
$56.8M 2.82%
1,705,022
+2,994
+0.2% +$94.3K
2013 Q2
20 quarters
AKR icon
13
Acadia Realty Trust
AKR
$2.5B
$50M 2.48%
1,828,506
+6,260
+0.3% +$157K
2018 Q1
1 quarter
CMA icon
14
DELISTED
Comerica
CMA
$48.9M 2.42%
537,840
-2,398
-0.4% -$230K
2013 Q2
20 quarters
LEN.B icon
15
Lennar Class B
LEN.B
$17.7B
$46.9M 2.32%
1,155,099
+692,335
+150% +$28.6M
2016 Q4
6 quarters
LOW icon
16
Lowe's Companies
LOW
$105B
$45.8M 2.27%
479,719
+1,006
+0.2% +$91.1K
2013 Q2
20 quarters
TRC icon
17
Tejon Ranch
TRC
$439M
$44.9M 2.23%
1,847,154
-802,528
-30% -$19.9M
2013 Q2
20 quarters
BNY icon
18
Bank of New York Mellon
BNY
$95.8B
$42.2M 2.09%
781,948
-306,495
-28% -$16.9M
2013 Q2
20 quarters
Y
19
DELISTED
Alleghany Corp
Y
$40.7M 2.02%
70,805
+33
+0% +$19.3K
2013 Q2
20 quarters
TPHS icon
20
DELISTED
Trinity Place Holdings Inc.com
TPHS
$32.3M 1.6%
4,934,510
+9,865
+0.2% +$67.2K
2016 Q1
9 quarters
UHAL icon
21
U-Haul Holding Co
UHAL
$10.9B
$31.1M 1.54%
874,380
+2,140
+0.2% +$74.4K
2017 Q4
2 quarters
ZION icon
22
Zions Bancorporation
ZION
$9.03B
$29.7M 1.47%
563,711
+1,232
+0.2% +$68K
2014 Q3
15 quarters
WTM icon
23
White Mountains Insurance
WTM
$4.96B
$26.1M 1.29%
28,745
-5,450
-16% -$4.8M
2013 Q2
20 quarters
ORIG
24
DELISTED
Ocean Rig UDW Inc. Class A Common Shares
ORIG
$24.2M 1.2%
820,373
– –
2018 Q1
1 quarter
FNF icon
25
Fidelity National Financial
FNF
$10.4B
$20.4M 1.01%
565,000
+1,419
+0.3% +$51.7K
2016 Q1
9 quarters
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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Third Avenue Management's Q2 2018 Portfolio in Review

As of Q2 2018, Third Avenue Management held 84 positions worth $2.02B, up 2.6% from $1.97B the previous quarter. Its ten largest holdings account for 56% of the portfolio.

Third Avenue Management's Q2 2018 filing shows 6 new, 32 increased, 12 reduced and 8 closed positions. Its largest new stake was Hawaiian Holdings, Inc.: 398,880 shares worth $14.3M. The largest sale was Cavco Industries, an estimated $47.1M.

By sector, the portfolio is most concentrated in Real Estate at 43% of assets, up from 38% a quarter earlier, followed by Financials and Consumer Discretionary.

  • Third Avenue Management's largest Q2 2018 buy was Hawaiian Holdings, Inc.: 398,880 shares worth $14.3M.
  • Third Avenue Management added most to Five Point Holdings in Q2 2018, an estimated $75.3M increase.
  • Third Avenue Management's biggest Q2 2018 reduction was Rayonier, cutting an estimated $26.4M.
  • Third Avenue Management fully exited Cavco Industries in Q2 2018, selling an estimated $47.1M.
  • Third Avenue Management's ten largest holdings make up 56% of its $2.02B portfolio in Q2 2018.
  • Third Avenue Management opened 6 new positions and closed 8 in Q2 2018.
  • Third Avenue Management's portfolio value rose 2.6% quarter-over-quarter to $2.02B.

Based on Third Avenue Management's 13F filing for Q2 2018, filed 25 Jul 2018.