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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
+9.71%
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
$760M
AUM Growth
+$17.4M
Cap. Flow
-$40.1M
Cap. Flow %
-5.27%
Top 10 Hldgs %
51.47%
Holding
64
New
4
Increased
6
Reduced
21
Closed
5

Top Buys

Rank Stock Value
1
IVT icon
InvenTrust Properties
IVT
+$12.7M
2
HCC icon
Warrior Met Coal
HCC
+$3.24M
3
SPHR icon
Sphere Entertainment
SPHR
+$2.85M
4
APTS
Preferred Apartment Communities, Inc.
APTS
+$2.7M
5
TPHS
Trinity Place Holdings Inc.com
TPHS
+$849K

Top Sells

Rank Stock Value
1
MHK icon
Mohawk Industries
MHK
+$11.8M
2
VNO icon
Vornado Realty Trust
VNO
+$8.11M
3
BN icon
Brookfield
BN
+$6.81M
4
ORI icon
Old Republic International
ORI
+$6.68M
5
JBGS
JBG SMITH
JBGS
+$5.52M

Sector Composition

Rank Sector Weight
1 Real Estate 38.13%
2 Financials 23.03%
3 Consumer Discretionary 12.18%
4 Industrials 11.45%
5 Materials 6.95%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
FPH icon
1
Five Point Holdings
FPH
$367M
$57.1M 7.51%
8,732,674
-165,745
-2% -$1.12M
HCC icon
2
Warrior Met Coal
HCC
$5.65B
$48M 6.31%
1,865,239
+134,911
+8% +$3.24M
LEN.B icon
3
Lennar Class B
LEN.B
$20.5B
$45.7M 6.01%
502,993
-6,895
-1% -$567K
BN icon
4
Brookfield
BN
$92.3B
$43M 5.66%
1,322,138
-215,322
-14% -$6.81M
PLD icon
5
Prologis
PLD
$134B
$42.4M 5.57%
251,587
-3,814
-1% -$569K
CMA
6
DELISTED
Comerica
CMA
$32.3M 4.25%
371,544
– –
WY icon
7
Weyerhaeuser
WY
$17B
$31.8M 4.19%
772,935
-56,908
-7% -$2.16M
RYN icon
8
Rayonier
RYN
$6.06B
$30.9M 4.06%
843,633
-65,156
-7% -$2.27M
UHAL icon
9
U-Haul Holding Co
UHAL
$13.3B
$30.4M 4%
418,330
-6,370
-1% -$459K
LOW icon
10
Lowe's Companies
LOW
$117B
$29.8M 3.92%
115,216
-1,763
-2% -$419K
TDW icon
11
Tidewater
TDW
$4.61B
$22.3M 2.94%
2,085,705
-261,807
-11% -$3.08M
AMH icon
12
American Homes 4 Rent
AMH
$12.1B
$21.9M 2.88%
502,586
-3,059
-0.6% -$124K
ORI icon
13
Old Republic International
ORI
$10.2B
$20.7M 2.72%
841,178
-269,123
-24% -$6.68M
HA
14
DELISTED
Hawaiian Holdings, Inc.
HA
$18.1M 2.37%
983,052
-11,003
-1% -$223K
CBRE icon
15
CBRE Group
CBRE
$43.7B
$17.8M 2.34%
163,878
-3,198
-2% -$328K
LAZ icon
16
Lazard
LAZ
$4.25B
$16.1M 2.12%
368,858
– –
IVT icon
17
InvenTrust Properties
IVT
$2.54B
$13.7M 1.81%
+503,945
New +$12.7M
UMBF icon
18
UMB Financial
UMBF
$11B
$13.7M 1.81%
129,469
-16,667
-11% -$1.72M
FR icon
19
First Industrial Realty Trust
FR
$8.21B
$13.2M 1.74%
199,779
-3,078
-2% -$185K
FNF icon
20
Fidelity National Financial
FNF
$12.8B
$13M 1.71%
258,930
-4,890
-2% -$234K
TPHS
21
DELISTED
Trinity Place Holdings Inc.com
TPHS
$12M 1.58%
6,514,436
+434,210
+7% +$849K
MYRG icon
22
MYR Group
MYRG
$4.58B
$11.2M 1.47%
101,187
-122
-0.1% -$13.2K
VAL icon
23
Valaris
VAL
$5.99B
$11.2M 1.47%
310,047
– –
ESS icon
24
Essex Property Trust
ESS
$18.3B
$10.5M 1.38%
29,879
-455
-1% -$155K
WASH icon
25
Washington Trust Bancorp
WASH
$753M
$10.3M 1.35%
182,745
– –
1
2 3

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Third Avenue Management's Q4 2021 Portfolio in Review

As of Q4 2021, Third Avenue Management held 64 positions worth $760M, up 2.3% from $743M the previous quarter. Its ten largest holdings account for 51% of the portfolio.

Third Avenue Management withdrew a net $40.1M in Q4 2021, closing 5 positions and reducing 21 holdings. Its most notable exit was Mohawk Industries, an estimated $11.8M position sold in full.

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

Against the trend, Third Avenue Management opened a new position in InvenTrust Properties worth $13.7M.

  • Third Avenue Management's largest Q4 2021 buy was InvenTrust Properties: 503,945 shares worth $13.7M.
  • Third Avenue Management added most to Warrior Met Coal in Q4 2021, an estimated $3.24M increase.
  • Third Avenue Management's biggest Q4 2021 reduction was Brookfield, cutting an estimated $6.81M.
  • Third Avenue Management fully exited Mohawk Industries in Q4 2021, selling an estimated $11.8M.
  • Third Avenue Management's ten largest holdings make up 51% of its $760M portfolio in Q4 2021.
  • Third Avenue Management opened 4 new positions and closed 5 in Q4 2021.
  • Third Avenue Management's portfolio value rose 2.3% quarter-over-quarter to $760M.

Based on Third Avenue Management's 13F filing for Q4 2021, filed 11 Feb 2022.