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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
+1.1%
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
$1.11B
AUM Growth
-$83.3M
Cap. Flow
-$78.3M
Cap. Flow %
-7.07%
Top 10 Hldgs %
52.98%
Holding
60
New
2
Increased
13
Reduced
19
Closed
3

Top Buys

Rank Stock Value
1
VNO icon
Vornado Realty Trust
VNO
+$14.1M
2
DBRG icon
DigitalBridge
DBRG
+$9.08M
3
MHK icon
Mohawk Industries
MHK
+$2.95M
4
CTB
Cooper Tire & Rubber Co.
CTB
+$2.58M
5
TDW icon
Tidewater
TDW
+$2.56M

Top Sells

Rank Stock Value
1
WY icon
Weyerhaeuser
WY
+$23.5M
2
LEN icon
Lennar Class A
LEN
+$18.2M
3
RIG icon
Transocean
RIG
+$9.75M
4
MAC icon
Macerich
MAC
+$9.64M
5
AKR icon
Acadia Realty Trust
AKR
+$5.9M

Sector Composition

Rank Sector Weight
1 Real Estate 40.57%
2 Financials 19.26%
3 Consumer Discretionary 16.46%
4 Industrials 12.82%
5 Materials 4.91%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
WY icon
1
Weyerhaeuser
WY
$17B
$88.6M 8%
3,198,359
-899,448
-22% -$23.5M
BN icon
2
Brookfield
BN
$92.3B
$84.1M 7.59%
4,438,158
-126,103
-3% -$2.28M
FPH icon
3
Five Point Holdings
FPH
$367M
$82.7M 7.46%
11,024,313
-566,773
-5% -$4.19M
LEN.B icon
4
Lennar Class B
LEN.B
$20.5B
$56.6M 5.11%
1,341,442
+9,271
+0.7% +$353K
LEN icon
5
Lennar Class A
LEN
$20.8B
$52.7M 4.76%
974,715
-374,375
-28% -$18.2M
RYN icon
6
Rayonier
RYN
$6.06B
$52M 4.7%
2,033,218
-203,000
-9% -$5.2M
JBGS
7
JBG SMITH
JBGS
$708M
$51.3M 4.63%
1,308,276
+6,635
+0.5% +$259K
TDW icon
8
Tidewater
TDW
$4.61B
$41.4M 3.73%
2,737,423
+136,110
+5% +$2.56M
VNO icon
9
Vornado Realty Trust
VNO
$7.13B
$39.6M 3.57%
621,696
+223,862
+56% +$14.1M
PNC icon
10
PNC Financial Services
PNC
$96.6B
$37.9M 3.43%
270,724
+5,285
+2% +$717K
HA
11
DELISTED
Hawaiian Holdings, Inc.
HA
$37.2M 3.35%
1,414,859
-2
-0% -$53
MAC icon
12
Macerich
MAC
$6.73B
$35.3M 3.19%
1,117,835
-305,689
-21% -$9.64M
HCC icon
13
Warrior Met Coal
HCC
$5.65B
$34.5M 3.12%
1,769,890
+6,227
+0.4% +$139K
UHAL icon
14
U-Haul Holding Co
UHAL
$13.3B
$29.4M 2.65%
753,790
+5,840
+0.8% +$216K
FR icon
15
First Industrial Realty Trust
FR
$8.21B
$26.8M 2.42%
676,266
-39,772
-6% -$1.53M
AKR icon
16
Acadia Realty Trust
AKR
$2.85B
$26.7M 2.41%
934,173
-211,951
-18% -$5.9M
CMA
17
DELISTED
Comerica
CMA
$25M 2.26%
378,962
-67,193
-15% -$4.45M
LOW icon
18
Lowe's Companies
LOW
$117B
$23.9M 2.16%
217,258
-15,144
-7% -$1.6M
TPHS
19
DELISTED
Trinity Place Holdings Inc.com
TPHS
$22.8M 2.06%
5,707,236
+27,508
+0.5% +$106K
MHK icon
20
Mohawk Industries
MHK
$8.8B
$18.1M 1.64%
146,222
+22,965
+19% +$2.95M
EXP icon
21
Eagle Materials
EXP
$6.06B
$15.8M 1.43%
175,889
– –
FNF icon
22
Fidelity National Financial
FNF
$12.8B
$15.1M 1.36%
352,577
-130,919
-27% -$5.45M
SRG
23
Seritage Growth Properties
SRG
$119M
$13.8M 1.24%
323,676
+6,152
+2% +$253K
MYRG icon
24
MYR Group
MYRG
$4.58B
$12M 1.08%
383,459
+61,974
+19% +$2M
TRC icon
25
Tejon Ranch
TRC
$438M
$11.6M 1.05%
686,108
-298,968
-30% -$5.21M
1
2 3

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LWP
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Third Avenue Management's Q3 2019 Portfolio in Review

As of Q3 2019, Third Avenue Management held 60 positions worth $1.11B, down 7% from $1.19B the previous quarter. Its ten largest holdings account for 53% of the portfolio.

Third Avenue Management withdrew a net $78.3M in Q3 2019, closing 3 positions and reducing 19 holdings. Its most notable exit was Transocean, an estimated $9.75M position sold in full.

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

Against the trend, Third Avenue Management opened a new position in DigitalBridge worth $10.6M.

  • Third Avenue Management's largest Q3 2019 buy was DigitalBridge: 438,727 shares worth $10.6M.
  • Third Avenue Management added most to Vornado Realty Trust in Q3 2019, an estimated $14.1M increase.
  • Third Avenue Management's biggest Q3 2019 reduction was Weyerhaeuser, cutting an estimated $23.5M.
  • Third Avenue Management fully exited Transocean in Q3 2019, selling an estimated $9.75M.
  • Third Avenue Management's ten largest holdings make up 53% of its $1.11B portfolio in Q3 2019.
  • Third Avenue Management opened 2 new positions and closed 3 in Q3 2019.
  • Third Avenue Management's portfolio value fell 7% quarter-over-quarter to $1.11B.

Based on Third Avenue Management's 13F filing for Q3 2019, filed 13 Nov 2019.