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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
+5.43%
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
$596M
AUM Growth
-$9.54M
Cap. Flow
-$32.3M
Cap. Flow %
-5.41%
Top 10 Hldgs %
49.79%
Holding
60
New
2
Increased
7
Reduced
24
Closed
1
Avg Time Held
18.7 quarters
Top 10 Avg Time Held
6 quarters
Top 20 Avg Time Held
14.5 quarters

Top Buys

Rank Stock Value
1
ITIC icon
Investors Title Co
ITIC
+$3.45M
2
SUI icon
Sun Communities
SUI
+$3.17M
3
WASH icon
Washington Trust Bancorp
WASH
+$2.59M
4
SUPN icon
Supernus Pharmaceuticals
SUPN
+$1.51M
5
ECPG icon
Encore Capital Group
ECPG
+$1.26M

Top Sells

Rank Stock Value
1
TDW icon
Tidewater
TDW
+$18.3M
2
DB icon
Deutsche Bank
DB
+$6.09M
3
CCF
Chase Corporation
CCF
+$4.87M
4
CMA icon
Comerica
CMA
+$4.69M
5
PLD icon
Prologis
PLD
+$3.41M

Sector Composition

Rank Sector Weight
1 Financials 27.27%
2 Real Estate 20.61%
3 Energy 15.18%
4 Materials 12.09%
5 Consumer Discretionary 10.44%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow Held Since
HCC icon
1
Warrior Met Coal
HCC
$4.96B
$64.7M 10.85%
1,267,353
-77,558
-6% -$3.26M
2017 Q4
23 quarters
TDW icon
2
Tidewater
TDW
$4.33B
$58.5M 9.81%
809,185
-289,414
-26% -$18.3M
2017 Q3
24 quarters
VAL icon
3
Valaris
VAL
$5.94B
$32M 5.37%
419,726
– –
2021 Q3
8 quarters
DB icon
4
Deutsche Bank
DB
$62.6B
$27.3M 4.57%
2,485,341
-563,229
-18% -$6.09M
2022 Q4
3 quarters
ORI icon
5
Old Republic International
ORI
$9.21B
$22.5M 3.78%
826,557
-9,774
-1% -$264K
2020 Q1
14 quarters
LEN.B icon
6
Lennar Class B
LEN.B
$17.8B
$21.5M 3.6%
216,577
-7,886
-4% -$822K
2016 Q4
27 quarters
CMA icon
7
DELISTED
Comerica
CMA
$19.4M 3.26%
475,896
-99,010
-17% -$4.69M
2013 Q2
41 quarters
DHI icon
8
D.R. Horton
DHI
$37.9B
$17.3M 2.9%
158,814
-6,864
-4% -$822K
2022 Q1
6 quarters
LAZ icon
9
Lazard
LAZ
$3.56B
$17.1M 2.86%
550,206
– –
2020 Q4
11 quarters
BN icon
10
Brookfield
BN
$81.9B
$16.7M 2.8%
780,528
-1,157
-0.1% -$26.1K
2013 Q2
41 quarters
UHAL.B icon
11
U-Haul Holding Co Series N
UHAL.B
$9.58B
$16.6M 2.79%
311,959
-462
-0.1% -$25.1K
2022 Q4
3 quarters
PLD icon
12
Prologis
PLD
$127B
$13.8M 2.31%
122,689
-27,842
-18% -$3.41M
2020 Q1
14 quarters
WY icon
13
Weyerhaeuser
WY
$13.7B
$13.3M 2.23%
435,244
-49,998
-10% -$1.65M
2013 Q2
41 quarters
CBRE icon
14
CBRE Group
CBRE
$37.5B
$13.3M 2.22%
180,902
-287
-0.2% -$23.8K
2020 Q1
14 quarters
AMH icon
15
American Homes 4 Rent
AMH
$11B
$12M 2.02%
355,261
-562
-0.2% -$20.2K
2020 Q2
13 quarters
LOW icon
16
Lowe's Companies
LOW
$106B
$11.8M 1.99%
56,992
-104
-0.2% -$23.4K
2020 Q1
14 quarters
RYN icon
17
Rayonier
RYN
$5.62B
$11.8M 1.98%
460,944
-30,879
-6% -$862K
2013 Q4
39 quarters
MYRG icon
18
MYR Group
MYRG
$4.81B
$11M 1.85%
80,806
-79
-0.1% -$11.2K
2015 Q4
31 quarters
FPH icon
19
Five Point Holdings
FPH
$315M
$10.9M 1.82%
3,745,875
-5,365
-0.1% -$16.7K
2017 Q2
25 quarters
JLL icon
20
Jones Lang LaSalle
JLL
$13.7B
$10.4M 1.75%
74,258
-120
-0.2% -$19.6K
2023 Q1
2 quarters
IVT icon
21
InvenTrust Properties
IVT
$2.32B
$10.3M 1.73%
432,420
-399
-0.1% -$9.6K
2021 Q4
7 quarters
HA icon
22
DELISTED
Hawaiian Holdings, Inc.
HA
$10.2M 1.71%
1,562,125
– –
2018 Q2
21 quarters
UMBF icon
23
UMB Financial
UMBF
$9.88B
$9.19M 1.54%
149,284
– –
2013 Q2
41 quarters
SEB icon
24
Seaboard Corp
SEB
$3.8B
$8.8M 1.48%
2,333
– –
2016 Q1
30 quarters
PRA icon
25
DELISTED
ProAssurance
PRA
$8.36M 1.4%
443,619
+109
+0% +$1.89K
2020 Q4
11 quarters
1
2 3

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CWM
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LWP
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FGA
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Third Avenue Management's Q3 2023 Portfolio in Review

As of Q3 2023, Third Avenue Management held 60 positions worth $596M, down 1.6% from $606M the previous quarter. Its ten largest holdings account for 50% of the portfolio.

Third Avenue Management withdrew a net $32.3M in Q3 2023, closing 1 position and reducing 24 holdings. Its most notable exit was Chase Corporation, an estimated $4.87M position sold in full.

By sector, the portfolio is most concentrated in Financials at 27% of assets, up from 27% a quarter earlier, followed by Real Estate and Energy.

Against the trend, Third Avenue Management opened a new position in Atlanta Braves Holdings Series B worth $914K.

  • Third Avenue Management's largest Q3 2023 buy was Atlanta Braves Holdings Series B: 25,700 shares worth $914K.
  • Third Avenue Management added most to Investors Title Co in Q3 2023, an estimated $3.45M increase.
  • Third Avenue Management's biggest Q3 2023 reduction was Tidewater, cutting an estimated $18.3M.
  • Third Avenue Management fully exited Chase Corporation in Q3 2023, selling an estimated $4.87M.
  • Third Avenue Management's ten largest holdings make up 50% of its $596M portfolio in Q3 2023.
  • Third Avenue Management opened 2 new positions and closed 1 in Q3 2023.
  • Third Avenue Management's portfolio value fell 1.6% quarter-over-quarter to $596M.

Based on Third Avenue Management's 13F filing for Q3 2023, filed 15 Nov 2023.