TAM

Third Avenue Management Portfolio holdings

AUM $625M Turnover 10.53%
1-Year Est. Return 48.93%
This Fund
S&P 500
This Quarter Est. Return
+0.39%
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
$499M
AUM Growth
-$18.1M
Cap. Flow
-$7.95M
Cap. Flow %
-1.59%
Top 10 Hldgs %
46.56%
Holding
62
New
3
Increased
10
Reduced
13
Closed
1
Avg Time Held
5.3 years
Top 10 Avg Time Held
2.4 years
Top 20 Avg Time Held
3.3 years

Top Buys

Rank Stock Value
1
TDW icon
Tidewater
TDW
+$11M
2
PHM icon
Pultegroup
PHM
+$6.89M
3
VAL icon
Valaris
VAL
+$6.14M
4
BXC icon
BlueLinx
BXC
+$2.77M
5
MRP icon
Millrose Properties Inc
MRP
+$1.89M

Top Sells

Rank Stock Value
1
DB icon
Deutsche Bank
DB
+$15.5M
2
ORI icon
Old Republic International
ORI
+$4.73M
3
AMH icon
American Homes 4 Rent
AMH
+$4.6M
4
LEN.B icon
Lennar Class B
LEN.B
+$2.67M
5
SEB icon
Seaboard Corp
SEB
+$2.67M

Sector Composition

Rank Sector Weight
1 Financials 31.46%
2 Real Estate 25.57%
3 Energy 12.6%
4 Consumer Discretionary 8.58%
5 Industrials 8.07%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow Held Since
TDW icon
1
Tidewater
TDW
$4.12B
$34.2M 6.86%
809,258
+221,079
+38% +$11M
2017 Q3
30 quarters
DB icon
2
Deutsche Bank
DB
$61.6B
$34.1M 6.84%
1,447,570
-738,934
-34% -$15.5M
2022 Q4
9 quarters
HCC icon
3
Warrior Met Coal
HCC
$4.75B
$29.3M 5.87%
613,206
+25,761
+4% +$1.32M
2017 Q4
29 quarters
VAL icon
4
Valaris
VAL
$5.88B
$22.4M 4.49%
569,839
+143,231
+34% +$6.14M
2021 Q3
14 quarters
FPH icon
5
Five Point Holdings
FPH
$307M
$22M 4.42%
4,125,911
– –
2017 Q2
31 quarters
CBRE icon
6
CBRE Group
CBRE
$37.3B
$21.6M 4.33%
165,109
-8,909
-5% -$1.21M
2020 Q1
20 quarters
BN icon
7
Brookfield
BN
$80.3B
$19.8M 3.98%
567,374
-19,843
-3% -$750K
2013 Q2
47 quarters
CMA icon
8
DELISTED
Comerica
CMA
$17.9M 3.59%
302,904
+23
+0% +$1.45K
2013 Q2
47 quarters
LEN.B icon
9
Lennar Class B
LEN.B
$17.4B
$16.1M 3.23%
147,770
-22,424
-13% -$2.67M
2016 Q4
33 quarters
UHAL.B icon
10
U-Haul Holding Co Series N
UHAL.B
$9.69B
$14.8M 2.97%
249,865
– –
2022 Q4
9 quarters
PLD icon
11
Prologis
PLD
$124B
$14.4M 2.9%
129,162
+219
+0.2% +$25.3K
2020 Q1
20 quarters
ORI icon
12
Old Republic International
ORI
$9.27B
$13.2M 2.65%
336,388
-129,090
-28% -$4.73M
2020 Q1
20 quarters
PRA icon
13
DELISTED
ProAssurance
PRA
$13.2M 2.64%
563,988
– –
2020 Q4
17 quarters
JLL icon
14
Jones Lang LaSalle
JLL
$13.6B
$12.9M 2.58%
51,990
– –
2023 Q1
8 quarters
SUI icon
15
Sun Communities
SUI
$13.9B
$11.7M 2.34%
90,715
-17,422
-16% -$2.23M
2023 Q2
7 quarters
UMBF icon
16
UMB Financial
UMBF
$9.79B
$10.4M 2.08%
102,796
– –
2013 Q2
47 quarters
DHI icon
17
D.R. Horton
DHI
$37.4B
$10M 2.01%
78,745
– –
2022 Q1
12 quarters
ITIC icon
18
Investors Title Co
ITIC
$537M
$9.38M 1.88%
38,919
-220
-0.6% -$50.9K
2023 Q2
7 quarters
MYRG icon
19
MYR Group
MYRG
$4.53B
$8.23M 1.65%
72,797
– –
2015 Q4
37 quarters
FNF icon
20
Fidelity National Financial
FNF
$10.5B
$7.72M 1.55%
118,656
– –
2016 Q1
36 quarters
PB icon
21
Prosperity Bancshares
PB
$8.02B
$7.29M 1.46%
102,168
– –
2014 Q1
44 quarters
AMH icon
22
American Homes 4 Rent
AMH
$11B
$7.28M 1.46%
192,560
-128,661
-40% -$4.6M
2020 Q2
19 quarters
FR icon
23
First Industrial Realty Trust
FR
$7.8B
$7.26M 1.46%
134,558
-22,572
-14% -$1.22M
2013 Q2
47 quarters
FRPH icon
24
FRP Holdings
FRPH
$369M
$7.23M 1.45%
252,952
– –
2018 Q1
28 quarters
BATRA icon
25
Atlanta Braves Holdings Series A
BATRA
$3.54B
$7.21M 1.45%
164,438
– –
2020 Q1
20 quarters
1
2 3

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Third Avenue Management's Q1 2025 Portfolio in Review

As of Q1 2025, Third Avenue Management held 62 positions worth $499M, down 3.5% from $517M the previous quarter. Its ten largest holdings account for 47% of the portfolio.

Third Avenue Management's Q1 2025 filing shows 3 new, 10 increased, 13 reduced and 1 closed positions. Its largest new stake was Pultegroup: 63,800 shares worth $6.56M. The largest sale was Deutsche Bank, an estimated $15.5M.

By sector, the portfolio is most concentrated in Financials at 31% of assets, down from 32% a quarter earlier, followed by Real Estate and Energy.

  • Third Avenue Management's largest Q1 2025 buy was Pultegroup: 63,800 shares worth $6.56M.
  • Third Avenue Management added most to Tidewater in Q1 2025, an estimated $11M increase.
  • Third Avenue Management's biggest Q1 2025 reduction was Deutsche Bank, cutting an estimated $15.5M.
  • Third Avenue Management fully exited Retail Opportunity Investments Corp. in Q1 2025, selling an estimated $1.56M.
  • Third Avenue Management's ten largest holdings make up 47% of its $499M portfolio in Q1 2025.
  • Third Avenue Management opened 3 new positions and closed 1 in Q1 2025.
  • Third Avenue Management's portfolio value fell 3.5% quarter-over-quarter to $499M.

Based on Third Avenue Management's 13F filing for Q1 2025, filed 14 May 2025.