Third Avenue Management 13F annual report
Third Avenue Management is an investment fund managing more than $583 billion ran by Michael Buono. There are currently 58 companies in Mr. Buono’s portfolio. The largest investments include Tidewater and Warrior Met Coal Inc, together worth $96.5 billion.
$583 billion Assets Under Management (AUM)
As of 6th August 2024, Third Avenue Management’s top holding is 509,811 shares of Tidewater currently worth over $48.5 billion and making up 8.3% of the portfolio value.
Relative to the number of outstanding shares of Tidewater, Third Avenue Management owns less than approximately 0.1% of the company.
In addition, the fund holds 764,402 shares of Warrior Met Coal Inc worth $48 billion, whose value grew 1.6% in the past six months.
The third-largest holding is Deutsche Bank AG worth $39.7 billion and the next is Valaris Ltd worth $31.3 billion, with 420,158 shares owned.
Currently, Third Avenue Management's portfolio is worth at least $583 billion. The total portfolio value may be much higher due to cash
assets that are not publicly disclosed such as fixed income, real estate, or cash equivalents.
Careers at Third Avenue Management
The Third Avenue Management office and employees reside in New York, New York. According to the last 13-F report filed with the SEC, Michael Buono serves as the Chief Financial Officer at Third Avenue Management.
Recent trades
In the most recent 13F filing, Third Avenue Management revealed that it had opened a new position in
Wesco International and bought 4,736 shares worth $751 million.
This means they effectively own approximately 0.1% of the company.
Wesco International makes up
1.6%
of the fund's Industrials sector allocation and has decreased its share price by approximately 0.1% in the past year.
The investment fund also strengthened its position in Warrior Met Coal Inc by buying
384 additional shares.
This makes their stake in Warrior Met Coal Inc total 764,402 shares worth $48 billion.
Warrior Met Coal Inc dropped approximately 0.1% in the past year.
On the other hand, there are companies that Third Avenue Management is getting rid of from its portfolio.
Third Avenue Management closed its position in Hawaiian on 13th August 2024.
It sold the previously owned 686,011 shares for $9.14 billion.
Michael Buono also disclosed a decreased stake in Tidewater by approximately 0.1%.
This leaves the value of the investment at $48.5 billion and 509,811 shares.
One of the average hedge funds
The two most similar investment funds to Third Avenue Management are Market Street Wealth Management Advisors and Al Mehwar Commercial Investments. They manage $583 billion and $583 billion respectively.
Michael Buono investment strategy
Third Avenue Management’s portfolio is diversified across 9 sectors.
Currently, their heaviest sector is Finance — making up 28.6% of
the total portfolio value.
The fund focuses on investments in the United States as
72.4% of the portfolio companies
are based in the United States.
The majority of the companies in the fund’s portfolio are large-cap stocks.
Stocks with a size of more than $10 billion in market cap make up
10% of the total holdings value.
On the other hand, small-cap stocks make up only 1.7% of the portfolio.
The average market cap of the portfolio companies is close to $6.92 billion.
The complete list of Third Avenue Management trades based on 13F SEC filings
These positions were updated on August 13th based on the fund’s latest 13F filing. Quickly find out what the most recently closed or increased positions are.
| Security | Shares Owned | Value | Allocation |
|---|---|---|---|
| Tidewater Inc. |
0.47%
509,811
|
$48,539,105,000 | 8.33% |
| Warrior Met Coal Inc |
0.05%
764,402
|
$47,981,514,000 | 8.23% |
| Deutsche Bank AG |
0.18%
2,481,698
|
$39,651,696,000 | 6.80% |
| Valaris Ltd |
0.06%
420,158
|
$31,301,771,000 | 5.37% |
| Old Republic International Corp. |
0.05%
827,848
|
$25,580,503,000 | 4.39% |
| Comerica, Inc. |
0.06%
476,412
|
$24,316,068,000 | 4.17% |
| Lennar Corp. |
3.30%
161,781
|
$22,557,125,000 | 3.87% |
| Lazard Inc. |
0.06%
550,809
|
$21,029,888,000 | 3.61% |
| Brookfield Corp. |
0.01%
484,530
|
$20,127,376,000 | 3.45% |
| U-Haul Holding Company |
3.35%
285,965
|
$17,166,109,000 | 2.94% |
| Cbre Group, Inc. |
0.33%
182,801
|
$16,289,397,000 | 2.79% |
| Dr Horton Inc. |
13.83%
105,990
|
$14,937,171,000 | 2.56% |
| Prologis Inc |
10.31%
128,889
|
$14,475,524,000 | 2.48% |
| Sun Communities, Inc. |
23.65%
107,795
|
$12,972,050,000 | 2.23% |
| UMB Financial Corp. |
No change
149,284
|
$12,453,271,000 | 2.14% |
| American Homes 4 Rent |
5.56%
320,621
|
$11,914,276,000 | 2.04% |
| Jones Lang Lasalle Inc. |
No change
51,990
|
$10,672,507,000 | 1.83% |
| Weyerhaeuser Co. |
7.03%
344,740
|
$9,787,169,000 | 1.68% |
| Five Point Holdings LLC |
0.22%
3,310,930
|
$9,701,025,000 | 1.66% |
| MYR Group Inc |
No change
67,757
|
$9,195,302,000 | 1.58% |
| Rayonier Inc. |
6.95%
315,753
|
$9,185,255,000 | 1.58% |
| Hawaiian Holdings, Inc. |
Closed
686,011
|
$9,144,527,000 | |
| First Industrial Realty Trust, Inc. |
1.20%
157,130
|
$7,465,246,000 | 1.28% |
| Seaboard Corp. |
No change
2,334
|
$7,377,167,000 | 1.27% |
| FRP Holdings Inc |
100.06%
253,055
|
$7,217,129,000 | 1.24% |
| Encore Capital Group, Inc. |
No change
170,678
|
$7,122,393,000 | 1.22% |
| Investors Title Co. |
0.08%
39,197
|
$7,060,556,000 | 1.21% |
| Kaiser Aluminum Corp |
28.10%
79,623
|
$6,998,862,000 | 1.20% |
| Proassurance Corporation |
8.00%
564,069
|
$6,892,923,000 | 1.18% |
| Atlanta Braves Holdings Inc - A |
No change
164,438
|
$6,796,223,000 | 1.17% |
| ICF International, Inc |
0.03%
44,257
|
$6,570,394,000 | 1.13% |
| LSB Industries, Inc. |
No change
787,909
|
$6,445,096,000 | 1.11% |
| Prosperity Bancshares Inc. |
No change
101,965
|
$6,234,140,000 | 1.07% |
| Collegium Pharmaceutical Inc |
68.59%
182,281
|
$5,869,448,000 | 1.01% |
| Fnf Group |
0.60%
118,656
|
$5,863,980,000 | 1.01% |
| Tri Pointe Group Inc. |
No change
155,997
|
$5,810,888,000 | 1.00% |
| Southside Bancshares Inc |
No change
209,426
|
$5,782,252,000 | 0.99% |
| Alamo Group Inc. |
No change
31,880
|
$5,515,240,000 | 0.95% |
| Washington Trust Bancorp, Inc. |
No change
199,119
|
$5,457,852,000 | 0.94% |
| Hamilton Beach Brand |
No change
317,313
|
$5,454,610,000 | 0.94% |
| Supernus Pharmaceuticals Inc |
18.41%
189,118
|
$5,058,907,000 | 0.87% |
| Brookfield Asset Mgmt. Cl A |
0.33%
132,103
|
$5,026,519,000 | 0.86% |
| Central Securities Corp |
No change
111,210
|
$4,895,464,000 | 0.84% |
| Inventrust Properties Corp. |
No change
183,296
|
$4,538,409,000 | 0.78% |
| Unifirst Corp. |
17.74%
23,356
|
$4,006,255,000 | 0.69% |
| Lowe's Companies Inc. |
48.05%
14,096
|
$3,107,604,000 | 0.53% |
| Elme Communities |
No change
93,000
|
$1,481,490,000 | 0.25% |
| Retail Opportunity Investments Corp |
No change
90,000
|
$1,118,700,000 | 0.19% |
| CTO Realty Growth Inc |
No change
63,000
|
$1,099,980,000 | 0.19% |
| Equity Commonwealth |
No change
55,000
|
$1,067,000,000 | 0.18% |
| Whitestone REIT |
No change
80,000
|
$1,064,800,000 | 0.18% |
| Atlanta Braves Holdings Inc - C |
0.52%
26,292
|
$1,036,956,000 | 0.18% |
| RMR Group Inc (The) |
No change
37,000
|
$836,200,000 | 0.14% |
| PotlatchDeltic Corp |
No change
20,000
|
$787,800,000 | 0.14% |
| Wesco International, Inc. |
Opened
4,736
|
$750,751,000 | 0.13% |
| Trinity Place Holdings Inc |
15.43%
3,475,472
|
$406,630,000 | 0.07% |
| Stewart Information Services Corp. |
No change
5,194
|
$322,444,000 | 0.06% |
| Vesta Real Estate Corp. |
Opened
10,000
|
$299,900,000 | 0.05% |
| Green Brick Partners, Inc. |
No change
5,000
|
$286,200,000 | 0.05% |
| No transactions found | |||
| Showing first 500 out of 59 holdings | |||
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