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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
+15.2%
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
$1.29B
AUM Growth
+$55M
Cap. Flow
-$153M
Cap. Flow %
-11.87%
Top 10 Hldgs %
56.98%
Holding
65
New
4
Increased
14
Reduced
29
Closed
6

Top Buys

Rank Stock Value
1
JBGS
JBG SMITH
JBGS
+$26.6M
2
EXP icon
Eagle Materials
EXP
+$12.7M
3
MHK icon
Mohawk Industries
MHK
+$11.6M
4
CARE icon
Carter Bankshares
CARE
+$6.42M
5
HA
Hawaiian Holdings, Inc.
HA
+$5.05M

Top Sells

Rank Stock Value
1
BN icon
Brookfield
BN
+$44M
2
LEN icon
Lennar Class A
LEN
+$28.3M
3
VNO icon
Vornado Realty Trust
VNO
+$26.1M
4
HCC icon
Warrior Met Coal
HCC
+$17.9M
5
AKR icon
Acadia Realty Trust
AKR
+$14.4M

Sector Composition

Rank Sector Weight
1 Real Estate 41.07%
2 Consumer Discretionary 17.04%
3 Financials 16.72%
4 Industrials 11.21%
5 Materials 6.21%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
WY icon
1
Weyerhaeuser
WY
$17B
$110M 8.52%
4,296,482
-513,059
-11% -$12.9M
FPH icon
2
Five Point Holdings
FPH
$367M
$106M 8.2%
11,556,368
+109,577
+1% +$824K
LEN icon
3
Lennar Class A
LEN
$20.8B
$99.5M 7.7%
2,010,036
-624,798
-24% -$28.3M
BN icon
4
Brookfield
BN
$92.3B
$80.1M 6.2%
4,780,389
-2,825,950
-37% -$44M
RYN icon
5
Rayonier
RYN
$6.06B
$66M 5.11%
2,314,815
-199,372
-8% -$5.32M
MAC icon
6
Macerich
MAC
$6.73B
$57.2M 4.42%
1,403,122
-120,766
-8% -$5.34M
TDW icon
7
Tidewater
TDW
$4.61B
$57M 4.41%
2,443,270
+34,721
+1% +$780K
HCC icon
8
Warrior Met Coal
HCC
$5.65B
$55.2M 4.27%
1,965,987
-653,507
-25% -$17.9M
JBGS
9
JBG SMITH
JBGS
$708M
$54.3M 4.2%
1,314,725
+677,731
+106% +$26.6M
LEN.B icon
10
Lennar Class B
LEN.B
$20.5B
$51.1M 3.95%
1,313,107
+5,959
+0.5% +$213K
HA
11
DELISTED
Hawaiian Holdings, Inc.
HA
$37.1M 2.87%
1,367,842
+174,111
+15% +$5.05M
PNC icon
12
PNC Financial Services
PNC
$96.6B
$34.9M 2.7%
264,544
-17,776
-6% -$2.2M
AKR icon
13
Acadia Realty Trust
AKR
$2.85B
$34.9M 2.7%
1,237,435
-523,148
-30% -$14.4M
CMA
14
DELISTED
Comerica
CMA
$34.2M 2.65%
451,256
-90,652
-17% -$7.27M
FR icon
15
First Industrial Realty Trust
FR
$8.21B
$31.1M 2.41%
908,608
-156,773
-15% -$5.16M
UHAL icon
16
U-Haul Holding Co
UHAL
$13.3B
$30.1M 2.33%
778,180
-64,560
-8% -$2.35M
LOW icon
17
Lowe's Companies
LOW
$117B
$29.5M 2.28%
276,136
-76,602
-22% -$7.64M
VNO icon
18
Vornado Realty Trust
VNO
$7.13B
$27.3M 2.11%
414,026
-389,412
-48% -$26.1M
TPHS
19
DELISTED
Trinity Place Holdings Inc.com
TPHS
$21.4M 1.66%
5,032,150
+72,758
+1% +$304K
FNF icon
20
Fidelity National Financial
FNF
$12.8B
$18.8M 1.46%
502,580
-42,416
-8% -$1.42M
TRC icon
21
Tejon Ranch
TRC
$438M
$18.1M 1.4%
985,076
-133,427
-12% -$2.46M
EXP icon
22
Eagle Materials
EXP
$6.06B
$15.7M 1.21%
+175,889
New +$12.7M
SRG
23
Seritage Growth Properties
SRG
$119M
$12.9M 1%
282,687
-14,188
-5% -$590K
MHK icon
24
Mohawk Industries
MHK
$8.8B
$11.9M 0.92%
+88,805
New +$11.6M
RIG icon
25
Transocean
RIG
$6.48B
$11.5M 0.89%
1,521,285
+10,657
+0.7% +$91.3K
1
2 3

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Third Avenue Management's Q1 2019 Portfolio in Review

As of Q1 2019, Third Avenue Management held 65 positions worth $1.29B, up 4.4% from $1.24B the previous quarter. Its ten largest holdings account for 57% of the portfolio.

Third Avenue Management withdrew a net $153M in Q1 2019, closing 6 positions and reducing 29 holdings. Its most notable exit was DuPont de Nemours, an estimated $13.4M position sold in full.

By sector, the portfolio is most concentrated in Real Estate at 41% of assets, up from 40% a quarter earlier, followed by Consumer Discretionary and Financials.

Against the trend, Third Avenue Management opened a new position in Eagle Materials worth $15.7M.

  • Third Avenue Management's largest Q1 2019 buy was Eagle Materials: 175,889 shares worth $15.7M.
  • Third Avenue Management added most to JBG SMITH in Q1 2019, an estimated $26.6M increase.
  • Third Avenue Management's biggest Q1 2019 reduction was Brookfield, cutting an estimated $44M.
  • Third Avenue Management fully exited DuPont de Nemours in Q1 2019, selling an estimated $13.4M.
  • Third Avenue Management's ten largest holdings make up 57% of its $1.29B portfolio in Q1 2019.
  • Third Avenue Management opened 4 new positions and closed 6 in Q1 2019.
  • Third Avenue Management's portfolio value rose 4.4% quarter-over-quarter to $1.29B.

Based on Third Avenue Management's 13F filing for Q1 2019, filed 14 May 2019.