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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
+9.15%
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
$719M
AUM Growth
+$5.84M
Cap. Flow
-$40.8M
Cap. Flow %
-5.67%
Top 10 Hldgs %
49.75%
Holding
67
New
2
Increased
14
Reduced
29
Closed
3

Top Buys

Rank Stock Value
1
KFY icon
Korn Ferry
KFY
+$9.71M
2
WASH icon
Washington Trust Bancorp
WASH
+$3.36M
3
ORI icon
Old Republic International
ORI
+$2.67M
4
CMA
Comerica
CMA
+$1.83M
5
AMH icon
American Homes 4 Rent
AMH
+$1.68M

Top Sells

Rank Stock Value
1
PSA icon
Public Storage
PSA
+$7.34M
2
ESS icon
Essex Property Trust
ESS
+$7.17M
3
LEN.B icon
Lennar Class B
LEN.B
+$6.84M
4
HCC icon
Warrior Met Coal
HCC
+$4.82M
5
FIX icon
Comfort Systems
FIX
+$4.44M

Sector Composition

Rank Sector Weight
1 Real Estate 40.23%
2 Consumer Discretionary 19.06%
3 Financials 15.65%
4 Industrials 12.68%
5 Materials 6.33%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
WY icon
1
Weyerhaeuser
WY
$17.3B
$48.1M 6.69%
1,686,905
-45,644
-3% -$1.25M
LEN.B icon
2
Lennar Class B
LEN.B
$19.6B
$45.8M 6.37%
734,489
-126,779
-15% -$6.84M
BN icon
3
Brookfield
BN
$104B
$43.9M 6.1%
2,479,862
-106,664
-4% -$1.91M
FPH icon
4
Five Point Holdings
FPH
$374M
$42.9M 5.96%
10,282,860
-544,495
-5% -$2.64M
PLD icon
5
Prologis
PLD
$138B
$35.2M 4.9%
349,483
-15,409
-4% -$1.54M
VNO icon
6
Vornado Realty Trust
VNO
$7.48B
$32.2M 4.47%
954,128
-27,160
-3% -$968K
RYN icon
7
Rayonier
RYN
$6.39B
$28.3M 3.93%
1,179,702
-49,906
-4% -$1.24M
JBGS
8
JBG SMITH
JBGS
$847M
$27.9M 3.88%
1,043,225
-44,877
-4% -$1.26M
LEN icon
9
Lennar Class A
LEN
$20B
$26.8M 3.73%
344,812
-15,586
-4% -$1.11M
LOW icon
10
Lowe's Companies
LOW
$115B
$26.8M 3.72%
161,570
-7,187
-4% -$1.11M
HCC icon
11
Warrior Met Coal
HCC
$4.17B
$25.4M 3.54%
1,489,803
-296,766
-17% -$4.82M
UHAL icon
12
U-Haul Holding Co
UHAL
$13.9B
$20.8M 2.88%
583,030
-25,280
-4% -$861K
TDW icon
13
Tidewater
TDW
$3.75B
$19.4M 2.69%
2,889,202
+114,624
+4% +$753K
ORI icon
14
Old Republic International
ORI
$10.3B
$18.9M 2.63%
1,285,160
+167,031
+15% +$2.67M
EXP icon
15
Eagle Materials
EXP
$6.23B
$17M 2.36%
196,645
-40,288
-17% -$3.26M
HA
16
DELISTED
Hawaiian Holdings, Inc.
HA
$15M 2.08%
1,160,715
– –
CMA
17
DELISTED
Comerica
CMA
$14.9M 2.07%
390,005
+47,627
+14% +$1.83M
MHK icon
18
Mohawk Industries
MHK
$6.58B
$14.4M 2%
147,347
-4,212
-3% -$379K
AMH icon
19
American Homes 4 Rent
AMH
$12.1B
$13.2M 1.83%
461,905
+59,413
+15% +$1.68M
FDX icon
20
FedEx
FDX
$73.1B
$12.7M 1.77%
50,628
-21,125
-29% -$4.23M
ESS icon
21
Essex Property Trust
ESS
$18.9B
$12.7M 1.76%
63,043
-32,906
-34% -$7.17M
MYRG icon
22
MYR Group
MYRG
$6.08B
$11.3M 1.57%
303,924
-29,989
-9% -$1.06M
FR icon
23
First Industrial Realty Trust
FR
$9.04B
$10.5M 1.46%
264,335
-11,234
-4% -$464K
FNF icon
24
Fidelity National Financial
FNF
$13.7B
$10.2M 1.41%
337,322
-14,321
-4% -$449K
CBRE icon
25
CBRE Group
CBRE
$40.6B
$9.78M 1.36%
208,197
-8,938
-4% -$408K
1
2 3

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Third Avenue Management's Q3 2020 Portfolio in Review

As of Q3 2020, Third Avenue Management held 67 positions worth $719M, up 0.82% from $714M the previous quarter. Its ten largest holdings account for 50% of the portfolio.

Third Avenue Management withdrew a net $40.8M in Q3 2020, closing 3 positions and reducing 29 holdings. Its most notable exit was Public Storage, an estimated $7.34M position sold in full.

By sector, the portfolio is most concentrated in Real Estate at 40% of assets, down from 43% a quarter earlier, followed by Consumer Discretionary and Financials.

Against the trend, Third Avenue Management opened a new position in Korn Ferry worth $9.53M.

  • Third Avenue Management's largest Q3 2020 buy was Korn Ferry: 328,473 shares worth $9.53M.
  • Third Avenue Management added most to Washington Trust Bancorp in Q3 2020, an estimated $3.36M increase.
  • Third Avenue Management's biggest Q3 2020 reduction was Essex Property Trust, cutting an estimated $7.17M.
  • Third Avenue Management fully exited Public Storage in Q3 2020, selling an estimated $7.34M.
  • Third Avenue Management's ten largest holdings make up 50% of its $719M portfolio in Q3 2020.
  • Third Avenue Management opened 2 new positions and closed 3 in Q3 2020.
  • Third Avenue Management's portfolio value rose 0.82% quarter-over-quarter to $719M.

Based on Third Avenue Management's 13F filing for Q3 2020, filed 16 Nov 2020.