Marty Whitman - Third Avenue Management Portfolio Holdings
As of Sep 30, 2025, the Third Avenue Management portfolio holdings is valued at approximately $532,679,180.00 featuring 50 publicly traded holdings. This in-depth profile highlights the top investments led by Tidewater Inc. (TDW), Warrior Met Coal Inc. (HCC), Valaris Ltd. (VAL), Brookfield Corp. (BN), and others based on the company's latest SEC filings reported on Nov 14, 2025. Explore insights into portfolio composition, sector allocation, and recent trade activity.
Third Avenue Management's stock portfolio spans 50 holdings across 9 sectors, with a total market value of $532,679,180.00. The Real Estate sector represents the largest allocation, while the top holdings account for nearly 50% of the total portfolio value. Tidewater Inc. remains the single largest position at 9.0% of all equity investments.
Complete Holdings
Showing 50 of 50 holdings.
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| # | Company | Symbol | Sector | Portfolio % | Shares | Change (Shares) | Change % | Value |
|---|---|---|---|---|---|---|---|---|
| 1 | Tidewater Inc. | TDW | Energy | 9.00% | 874,667 | -490 | -0.06% | $47,931,752.00 |
| 2 | Warrior Met Coal Inc. | HCC | Basic Materials | 7.94% | 641,916 | +232 | +0.04% | $42,315,103.00 |
| 3 | Valaris Ltd. | VAL | Energy | 5.63% | 585,602 | -319 | -0.05% | $29,994,534.00 |
| 4 | Brookfield Corp. | BN | Financial Services | 4.82% | 378,249 | - | - | $25,675,542.00 |
| 5 | Five Point Holdings LLC - CL A | FPH | Real Estate | 4.73% | 4,113,917 | -11,994 | -0.29% | $25,218,311.00 |
| 6 | CBRE Group, Inc. | CBRE | Real Estate | 4.55% | 154,672 | -10,038 | -6.09% | $24,215,448.00 |
| 7 | Boise Cascade Company | BCC | Basic Materials | 3.98% | 273,705 | +273,705 | +100.00% | $21,179,293.00 |
| 8 | Lennar Corp - Class B | LEN-B | Consumer Cyclical | 3.39% | 147,843 | -190 | -0.13% | $18,032,411.00 |
| 9 | Prologis Inc. | PLD | Real Estate | 3.18% | 145,394 | -128 | -0.09% | $16,935,493.00 |
| 10 | Rogers Corp. | ROG | Technology | 3.06% | 199,368 | +199,368 | +100.00% | $16,314,283.00 |
| 11 | Jones Lang Lasalle | JLL | Real Estate | 2.88% | 51,619 | -71 | -0.14% | $15,347,361.00 |
| 12 | DR Horton Inc. | DHI | Consumer Cyclical | 2.53% | 78,078 | -111 | -0.14% | $13,463,770.00 |
| 13 | U-Haul Holding Company | UHAL-B | Industrials | 2.49% | 259,225 | -285 | -0.11% | $13,259,359.00 |
| 14 | PulteGroup Inc. | PHM | Consumer Cyclical | 2.44% | 96,766 | -165 | -0.17% | $13,009,221.00 |
| 15 | Sun Communities Inc. | SUI | Real Estate | 2.33% | 96,786 | -424 | -0.44% | $12,437,001.00 |
| 16 | UMB Financial Corporation | UMBF | Financial Services | 2.17% | 97,518 | -5,245 | -5.10% | $11,536,379.00 |
| 17 | Comerica Inc. | CMA | Financial Services | 2.03% | 156,314 | -14,896 | -8.70% | $10,799,734.00 |
| 18 | Supernus Pharmaceuticals, Inc. | SUPN | Healthcare | 1.71% | 189,493 | - | - | $9,103,244.00 |
| 19 | Proassurance Corp. | PRA | Financial Services | 1.64% | 364,013 | -20,627 | -5.36% | $8,729,032.00 |
| 20 | Champion Homes, Inc. | SKY | Consumer Cyclical | 1.56% | 106,409 | +46,544 | +77.75% | $8,287,133.00 |
| 21 | Atlanta Braves Holdings Inc - A | BATRA | Communication Services | 1.39% | 164,438 | - | - | $7,422,731.00 |
| 22 | MYR Group Inc. | MYRG | Industrials | 1.35% | 35,554 | -19,041 | -34.88% | $7,181,908.00 |
| 23 | FNF Group | FNF | Financial Services | 1.34% | 118,656 | - | - | $7,159,703.00 |
| 24 | Collegium Pharmaceutical Inc. | COLL | Healthcare | 1.34% | 203,401 | - | - | $7,153,613.00 |
| 25 | Kaiser Aluminum Corp. | KALU | Basic Materials | 1.32% | 89,535 | - | - | $7,014,172.00 |
| 26 | Encore Capital Group Inc. | ECPG | Financial Services | 1.30% | 171,022 | - | - | $6,943,493.00 |
| 27 | Prosperity Bancshares Inc. | PB | Financial Services | 1.28% | 102,168 | - | - | $6,841,169.00 |
| 28 | American Homes 4 Rent | AMH | Real Estate | 1.18% | 191,066 | - | - | $6,272,697.00 |
| 29 | LSB Industries Inc. | LXU | Basic Materials | 1.15% | 789,447 | - | - | $6,126,109.00 |
| 30 | Investors Title Co. | ITIC | Financial Services | 1.10% | 21,883 | -13,869 | -38.79% | $5,883,901.00 |
| 31 | Rayonier Inc. | RYN | Real Estate | 1.10% | 218,052 | -40,077 | -15.53% | $5,869,960.00 |
| 32 | Southside Bancshares Inc. | SBSI | Financial Services | 1.09% | 209,426 | - | - | $5,826,231.00 |
| 33 | First Industrial Realty Trust, Inc. | FR | Real Estate | 1.04% | 106,342 | -26,321 | -19.84% | $5,537,228.00 |
| 34 | Tri Pointe Group Inc. | TPH | Consumer Cyclical | 1.00% | 155,855 | +25 | +0.02% | $5,342,709.00 |
| 35 | Central Securities Corporation | CET | Financial Services | 0.98% | 101,812 | - | - | $5,220,919.00 |
| 36 | Ambac Financial Group | AMBC | Financial Services | 0.92% | 603,391 | - | - | $4,905,569.00 |
| 37 | ICF International, Inc. | ICFI | Industrials | 0.83% | 47,024 | - | - | $4,443,298.00 |
| 38 | UniFirst Corporation | UNF | Industrials | 0.81% | 25,929 | +2,573 | +11.02% | $4,312,252.00 |
| 39 | FRP Holdings Inc. | FRPH | Real Estate | 0.81% | 178,530 | -32,910 | -15.56% | $4,293,647.00 |
| 40 | Wesco International | WCC | Industrials | 0.80% | 20,093 | - | - | $4,273,580.00 |
| 41 | Weyerhaeuser Company | WY | Real Estate | 0.76% | 161,920 | -58,929 | -26.68% | $4,039,904.00 |
| 42 | PBF Energy Inc. | PBF | Energy | 0.74% | 131,050 | - | - | $3,924,948.00 |
| 43 | Cantaloupe, Inc. | CTLP | Technology | 0.73% | 370,013 | - | - | $3,914,738.00 |
| 44 | Sandridge Energy Inc. | SD | Energy | 0.73% | 330,698 | - | - | $3,869,167.00 |
| 45 | Seaboard Corp. | SEB | Industrials | 0.71% | 1,015 | - | - | $3,758,636.00 |
| 46 | Bluelinx Holdings Inc. | BXC | Industrials | 0.64% | 46,357 | - | - | $3,415,120.00 |
| 47 | OceanFirst Financial Trust | OCFC | Financial Services | 0.53% | 162,331 | +93 | +0.06% | $2,818,066.00 |
| 48 | Alamo Group, Inc. | ALG | Industrials | 0.53% | 14,869 | - | - | $2,812,471.00 |
| 49 | Visteon Corp. | VC | Consumer Cyclical | 0.23% | 10,298 | - | - | $1,246,573.00 |
| 50 | Atlanta Braves Holdings Inc - C | BATRK | Communication Services | 0.20% | 26,104 | - | - | $1,070,264.00 |
Holdings by Sector
| Sector | Allocation | Value |
|---|---|---|
| Real Estate | 22.56% | $120,167,050.00 |
| Financial Services | 19.21% | $102,339,738.00 |
| Energy | 16.09% | $85,720,401.00 |
| Basic Materials | 14.39% | $76,634,677.00 |
| Consumer Cyclical | 11.15% | $59,381,817.00 |
| Industrials | 8.16% | $43,456,624.00 |
| Technology | 3.80% | $20,229,021.00 |
| Healthcare | 3.05% | $16,256,857.00 |
| Communication Services | 1.59% | $8,492,995.00 |
Portfolio insights
As of Sep 30, 2025, the Third Avenue Management portfolio holds 50 securities valued at $532,679,180.00. The Real Estate sector represents the largest allocation, while the top positions account for a significant portion of the total portfolio weight.