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TAM

Third Avenue Management Portfolio holdings

AUM $616M
1-Year Est. Return 45.6%
This Fund
S&P 500
This Quarter Est. Return
-31.25%
1 Year Est. Return
+45.6%
3 Year Est. Return
+111.18%
5 Year Est. Return
+162.64%
10 Year Est. Return
+374.2%
AUM
$676M
AUM Growth
-$335M
Cap. Flow
+$36.5M
Cap. Flow %
5.39%
Top 10 Hldgs %
51.2%
Holding
76
New
19
Increased
15
Reduced
17
Closed
9

Top Buys

Rank Stock Value
1
PLD icon
Prologis
PLD
+$32.2M
2
ESS icon
Essex Property Trust
ESS
+$28.1M
3
VNO icon
Vornado Realty Trust
VNO
+$25.1M
4
PSA icon
Public Storage
PSA
+$21.7M
5
LOW icon
Lowe's Companies
LOW
+$18.5M

Top Sells

Rank Stock Value
1
AKR icon
Acadia Realty Trust
AKR
+$22.6M
2
PNC icon
PNC Financial Services
PNC
+$21.7M
3
WY icon
Weyerhaeuser
WY
+$21.2M
4
MAC icon
Macerich
MAC
+$20.3M
5
LEN icon
Lennar Class A
LEN
+$15.6M

Sector Composition

Rank Sector Weight
1 Real Estate 46.43%
2 Financials 14.92%
3 Consumer Discretionary 13.56%
4 Industrials 12.54%
5 Materials 5.37%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
FPH icon
1
Five Point Holdings
FPH
$374M
$59.1M 8.73%
11,648,430
-64,893
-0.6% -$471K
BN icon
2
Brookfield
BN
$104B
$47.6M 7.04%
3,013,748
-1,286
-0% -$26.5K
JBGS
3
JBG SMITH
JBGS
$847M
$39.2M 5.8%
1,231,736
+9,710
+0.8% +$365K
VNO icon
4
Vornado Realty Trust
VNO
$7.48B
$37M 5.47%
1,022,126
+441,462
+76% +$25.1M
WY icon
5
Weyerhaeuser
WY
$17.3B
$31.1M 4.61%
1,837,497
-807,346
-31% -$21.2M
PLD icon
6
Prologis
PLD
$138B
$29.7M 4.38%
+368,926
New +$32.2M
RYN icon
7
Rayonier
RYN
$6.39B
$28.8M 4.26%
1,347,677
-65,692
-5% -$1.66M
LEN.B icon
8
Lennar Class B
LEN.B
$19.6B
$28.7M 4.25%
1,044,829
-144,339
-12% -$6.31M
LEN icon
9
Lennar Class A
LEN
$20B
$23.5M 3.48%
634,353
-276,175
-30% -$15.6M
ESS icon
10
Essex Property Trust
ESS
$18.9B
$21.5M 3.18%
+97,734
New +$28.1M
UHAL icon
11
U-Haul Holding Co
UHAL
$13.9B
$21.4M 3.16%
736,010
-66,440
-8% -$2.24M
PSA icon
12
Public Storage
PSA
$55.4B
$20.2M 2.98%
+101,528
New +$21.7M
TDW icon
13
Tidewater
TDW
$3.75B
$19.6M 2.9%
2,771,752
+17,141
+0.6% +$231K
HCC icon
14
Warrior Met Coal
HCC
$4.17B
$19.6M 2.9%
1,845,789
+56,386
+3% +$1.02M
LOW icon
15
Lowe's Companies
LOW
$115B
$14.6M 2.15%
+169,215
New +$18.5M
EXP icon
16
Eagle Materials
EXP
$6.23B
$14.3M 2.11%
244,397
+67,046
+38% +$5.34M
MHK icon
17
Mohawk Industries
MHK
$6.58B
$12.7M 1.88%
166,602
+19,738
+13% +$2.34M
HA
18
DELISTED
Hawaiian Holdings, Inc.
HA
$12.7M 1.88%
1,215,738
+118,889
+11% +$2.71M
ORI icon
19
Old Republic International
ORI
$10.3B
$12.2M 1.8%
+797,168
New +$16.4M
TPHS
20
DELISTED
Trinity Place Holdings Inc.com
TPHS
$11M 1.63%
6,046,847
+203,936
+3% +$587K
MYRG icon
21
MYR Group
MYRG
$6.08B
$10M 1.49%
383,607
– –
FR icon
22
First Industrial Realty Trust
FR
$9.04B
$10M 1.48%
302,128
-260,471
-46% -$10.3M
FNF icon
23
Fidelity National Financial
FNF
$13.7B
$9.21M 1.36%
385,180
+113,899
+42% +$4.47M
CBRE icon
24
CBRE Group
CBRE
$40.6B
$8.87M 1.31%
+235,115
New +$13M
FDX icon
25
FedEx
FDX
$73.1B
$8.67M 1.28%
+71,511
New +$10.1M
1
2 3 4

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Third Avenue Management's Q1 2020 Portfolio in Review

As of Q1 2020, Third Avenue Management held 76 positions worth $676M, down 33% from $1.01B the previous quarter. Its ten largest holdings account for 51% of the portfolio.

Third Avenue Management deployed $36.5M of net new capital in Q1 2020, opening 19 new positions and adding to 15 existing holdings. Its largest new stake was Prologis: 368,926 shares worth $29.7M.

By sector, the portfolio is most concentrated in Real Estate at 46% of assets, up from 42% a quarter earlier, followed by Financials and Consumer Discretionary.

On the sell side, the largest reduction was Weyerhaeuser, an estimated $21.2M trimmed.

  • Third Avenue Management's largest Q1 2020 buy was Prologis: 368,926 shares worth $29.7M.
  • Third Avenue Management added most to Vornado Realty Trust in Q1 2020, an estimated $25.1M increase.
  • Third Avenue Management's biggest Q1 2020 reduction was Weyerhaeuser, cutting an estimated $21.2M.
  • Third Avenue Management fully exited Acadia Realty Trust in Q1 2020, selling an estimated $22.6M.
  • Third Avenue Management's ten largest holdings make up 51% of its $676M portfolio in Q1 2020.
  • Third Avenue Management opened 19 new positions and closed 9 in Q1 2020.
  • Third Avenue Management's portfolio value fell 33% quarter-over-quarter to $676M.

Based on Third Avenue Management's 13F filing for Q1 2020, filed 13 May 2020.