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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
+2.75%
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
$743M
AUM Growth
-$12.7M
Cap. Flow
-$24.4M
Cap. Flow %
-3.29%
Top 10 Hldgs %
49.59%
Holding
63
New
3
Increased
10
Reduced
12
Closed
4

Top Buys

Rank Stock Value
1
VAL icon
Valaris
VAL
+$8.91M
2
APTS
Preferred Apartment Communities, Inc.
APTS
+$2.91M
3
SPHR icon
Sphere Entertainment
SPHR
+$2.06M
4
HBB icon
Hamilton Beach Brands
HBB
+$991K
5
CALM icon
Cal-Maine
CALM
+$839K

Top Sells

Rank Stock Value
1
EXP icon
Eagle Materials
EXP
+$12.4M
2
LEN icon
Lennar Class A
LEN
+$8.76M
3
MHK icon
Mohawk Industries
MHK
+$5.73M
4
JBGS
JBG SMITH
JBGS
+$5.34M
5
MAC icon
Macerich
MAC
+$3.01M

Sector Composition

Rank Sector Weight
1 Real Estate 37.26%
2 Financials 24.13%
3 Consumer Discretionary 11.88%
4 Industrials 11.19%
5 Materials 6.18%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
FPH icon
1
Five Point Holdings
FPH
$367M
$69.7M 9.38%
8,898,419
+28,806
+0.3% +$234K
BN icon
2
Brookfield
BN
$92.3B
$44.3M 5.97%
1,537,460
-11,560
-0.7% -$338K
HCC icon
3
Warrior Met Coal
HCC
$5.65B
$40.3M 5.42%
1,730,328
+5,043
+0.3% +$102K
LEN.B icon
4
Lennar Class B
LEN.B
$20.5B
$37.6M 5.06%
509,888
+2,044
+0.4% +$163K
PLD icon
5
Prologis
PLD
$134B
$32M 4.31%
255,401
-468
-0.2% -$60.7K
CMA
6
DELISTED
Comerica
CMA
$29.9M 4.03%
371,544
– –
WY icon
7
Weyerhaeuser
WY
$17B
$29.5M 3.97%
829,843
+2,034
+0.2% +$71.2K
RYN icon
8
Rayonier
RYN
$6.06B
$29.4M 3.96%
908,789
+1,835
+0.2% +$61.5K
TDW icon
9
Tidewater
TDW
$4.61B
$28.3M 3.81%
2,347,512
-191,461
-8% -$2.18M
UHAL icon
10
U-Haul Holding Co
UHAL
$13.3B
$27.4M 3.69%
424,700
-3,540
-0.8% -$222K
ORI icon
11
Old Republic International
ORI
$10.2B
$25.7M 3.46%
1,110,301
– –
LOW icon
12
Lowe's Companies
LOW
$117B
$23.7M 3.19%
116,979
-1,136
-1% -$226K
HA
13
DELISTED
Hawaiian Holdings, Inc.
HA
$21.5M 2.9%
994,055
– –
AMH icon
14
American Homes 4 Rent
AMH
$12.1B
$19.3M 2.59%
505,645
-924
-0.2% -$37.8K
LAZ icon
15
Lazard
LAZ
$4.25B
$16.9M 2.27%
368,858
– –
CBRE icon
16
CBRE Group
CBRE
$43.7B
$16.3M 2.19%
167,076
+1,571
+0.9% +$146K
JBGS
17
JBG SMITH
JBGS
$708M
$15.6M 2.1%
527,851
-172,902
-25% -$5.34M
UMBF icon
18
UMB Financial
UMBF
$11B
$14.1M 1.9%
146,136
– –
TPHS
19
DELISTED
Trinity Place Holdings Inc.com
TPHS
$11.9M 1.6%
6,080,226
– –
MHK icon
20
Mohawk Industries
MHK
$8.8B
$11.8M 1.59%
66,464
-29,580
-31% -$5.73M
FNF icon
21
Fidelity National Financial
FNF
$12.8B
$11.5M 1.55%
263,820
+665
+0.3% +$29.5K
VAL icon
22
Valaris
VAL
$5.99B
$10.8M 1.46%
+310,047
New +$8.91M
FR icon
23
First Industrial Realty Trust
FR
$8.21B
$10.6M 1.42%
202,857
-367
-0.2% -$20K
MYRG icon
24
MYR Group
MYRG
$4.58B
$10.1M 1.36%
101,309
– –
ESS icon
25
Essex Property Trust
ESS
$18.3B
$9.7M 1.31%
30,334
-56
-0.2% -$18.1K
1
2 3

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Third Avenue Management's Q3 2021 Portfolio in Review

As of Q3 2021, Third Avenue Management held 63 positions worth $743M, down 1.7% from $756M the previous quarter. Its ten largest holdings account for 50% of the portfolio.

Third Avenue Management withdrew a net $24.4M in Q3 2021, closing 4 positions and reducing 12 holdings. Its most notable exit was Eagle Materials, an estimated $12.4M position sold in full.

By sector, the portfolio is most concentrated in Real Estate at 37% of assets, down from 38% a quarter earlier, followed by Financials and Consumer Discretionary.

Against the trend, Third Avenue Management opened a new position in Valaris worth $10.8M.

  • Third Avenue Management's largest Q3 2021 buy was Valaris: 310,047 shares worth $10.8M.
  • Third Avenue Management added most to Hamilton Beach Brands in Q3 2021, an estimated $991K increase.
  • Third Avenue Management's biggest Q3 2021 reduction was Mohawk Industries, cutting an estimated $5.73M.
  • Third Avenue Management fully exited Eagle Materials in Q3 2021, selling an estimated $12.4M.
  • Third Avenue Management's ten largest holdings make up 50% of its $743M portfolio in Q3 2021.
  • Third Avenue Management opened 3 new positions and closed 4 in Q3 2021.
  • Third Avenue Management's portfolio value fell 1.7% quarter-over-quarter to $743M.

Based on Third Avenue Management's 13F filing for Q3 2021, filed 12 Nov 2021.