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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
-4.61%
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
$508M
AUM Growth
-$53.5M
Cap. Flow
-$22.6M
Cap. Flow %
-4.45%
Top 10 Hldgs %
46.64%
Holding
56
New
–
Increased
5
Reduced
26
Closed
3

Top Buys

Rank Stock Value
1
LAZ icon
Lazard
LAZ
+$2.18M
2
HA
Hawaiian Holdings, Inc.
HA
+$1.8M
3
TPH
Tri Pointe Homes
TPH
+$1.09M
4
KALU icon
Kaiser Aluminum
KALU
+$893K
5
PRA
ProAssurance
PRA
+$878K

Top Sells

Rank Stock Value
1
FPH icon
Five Point Holdings
FPH
+$8.13M
2
VC icon
Visteon
VC
+$3.3M
3
CMA
Comerica
CMA
+$2.18M
4
CALM icon
Cal-Maine
CALM
+$2.06M
5
LOW icon
Lowe's Companies
LOW
+$1.73M

Sector Composition

Rank Sector Weight
1 Real Estate 25.22%
2 Financials 24.38%
3 Industrials 12.88%
4 Consumer Discretionary 12.62%
5 Energy 12.07%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
TDW icon
1
Tidewater
TDW
$4.61B
$45.5M 8.96%
2,097,857
-8,073
-0.4% -$172K
HCC icon
2
Warrior Met Coal
HCC
$5.65B
$39.1M 7.68%
1,373,234
-21,046
-2% -$647K
LEN.B icon
3
Lennar Class B
LEN.B
$20.5B
$23.4M 4.61%
413,931
-8,354
-2% -$508K
BN icon
4
Brookfield
BN
$92.3B
$21.8M 4.29%
988,605
-64,599
-6% -$1.67M
CMA
5
DELISTED
Comerica
CMA
$21.6M 4.25%
303,559
-27,651
-8% -$2.18M
UHAL icon
6
U-Haul Holding Co
UHAL
$13.3B
$18.9M 3.72%
370,950
-8,230
-2% -$431K
PLD icon
7
Prologis
PLD
$134B
$18M 3.54%
177,041
-3,933
-2% -$488K
ORI icon
8
Old Republic International
ORI
$10.2B
$17.5M 3.45%
838,063
-3,961
-0.5% -$89.2K
VAL icon
9
Valaris
VAL
$5.99B
$15.8M 3.12%
323,551
-597
-0.2% -$28.6K
IVT icon
10
InvenTrust Properties
IVT
$2.54B
$15.5M 3.04%
724,502
-9,199
-1% -$244K
WY icon
11
Weyerhaeuser
WY
$17B
$15.1M 2.97%
529,073
-11,742
-2% -$400K
DHI icon
12
D.R. Horton
DHI
$41.2B
$15.1M 2.97%
224,212
-4,978
-2% -$366K
RYN icon
13
Rayonier
RYN
$6.06B
$15M 2.95%
551,687
-34,724
-6% -$1.12M
LAZ icon
14
Lazard
LAZ
$4.25B
$14.7M 2.89%
460,733
+60,754
+15% +$2.18M
LOW icon
15
Lowe's Companies
LOW
$117B
$14.2M 2.8%
75,766
-8,904
-11% -$1.73M
FPH icon
16
Five Point Holdings
FPH
$367M
$14.1M 2.77%
5,409,751
-2,223,623
-29% -$8.13M
AMH icon
17
American Homes 4 Rent
AMH
$12.1B
$14M 2.76%
427,130
-9,486
-2% -$343K
CBRE icon
18
CBRE Group
CBRE
$43.7B
$12.2M 2.4%
180,799
-4,013
-2% -$318K
HA
19
DELISTED
Hawaiian Holdings, Inc.
HA
$11.8M 2.33%
900,988
+118,196
+15% +$1.8M
UMBF icon
20
UMB Financial
UMBF
$11B
$10.9M 2.14%
128,952
– –
MYRG icon
21
MYR Group
MYRG
$4.58B
$8.57M 1.69%
101,187
– –
WASH icon
22
Washington Trust Bancorp
WASH
$753M
$8.49M 1.67%
182,745
– –
SEB icon
23
Seaboard Corp
SEB
$3.75B
$7.95M 1.56%
2,336
– –
FR icon
24
First Industrial Realty Trust
FR
$8.21B
$7.31M 1.44%
163,152
-3,629
-2% -$184K
FNF icon
25
Fidelity National Financial
FNF
$12.8B
$7.25M 1.43%
208,232
-4,631
-2% -$173K
1
2 3

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LWP
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Third Avenue Management's Q3 2022 Portfolio in Review

As of Q3 2022, Third Avenue Management held 56 positions worth $508M, down 9.5% from $562M the previous quarter. Its ten largest holdings account for 47% of the portfolio.

Third Avenue Management withdrew a net $22.6M in Q3 2022, closing 3 positions and reducing 26 holdings. Its most notable exit was Visteon, an estimated $3.3M position sold in full.

By sector, the portfolio is most concentrated in Real Estate at 25% of assets, down from 30% a quarter earlier, followed by Financials and Industrials.

Against the trend, Third Avenue Management added an estimated $2.18M to Lazard.

  • Third Avenue Management added most to Lazard in Q3 2022, an estimated $2.18M increase.
  • Third Avenue Management's biggest Q3 2022 reduction was Five Point Holdings, cutting an estimated $8.13M.
  • Third Avenue Management fully exited Visteon in Q3 2022, selling an estimated $3.3M.
  • Third Avenue Management's ten largest holdings make up 47% of its $508M portfolio in Q3 2022.
  • Third Avenue Management opened 0 new positions and closed 3 in Q3 2022.
  • Third Avenue Management's portfolio value fell 9.5% quarter-over-quarter to $508M.

Based on Third Avenue Management's 13F filing for Q3 2022, filed 14 Nov 2022.