Marty Whitman – Third Avenue Management Portfolio Activity & Recent Trades (Jun 30, 2025)

As of Jun 30, 2025, the Third Avenue Management portfolio activity showed several notable changes in holdings, according to the latest SEC 13F filing reported on Aug 13, 2025. The activity included new positions, additions to existing holdings, reductions, and complete exits, providing a clear view of how the portfolio evolved during the quarter.

During Q2 2025, the filing reported:

New Buys – Cantaloupe, Inc. (CTLP), Champion Homes, Inc. (SKY), Visteon Corporation (VC)

Increases – Ambac Financial Group, Inc. (AMBC), Tidewater Inc. (TDW), OceanFirst Financial Corp. (OCFC), PulteGroup, Inc. (PHM), Warrior Met Coal, Inc. (HCC), and 8 more

Reductions – UMB Financial Corporation (UMBF), Jones Lang LaSalle Incorporated (JLL), Seaboard Corporation (SEB), Rayonier Inc. REIT (RYN), CBRE Group Inc (CBRE), and 14 more

Complete Exits – U-Haul Holding Company (UHAL), Green Brick Partners, Inc. (GRBK), Stewart Information Services Co (STC), PotlatchDeltic Corporation - Co (PCH), Corporacion Inmobiliaria Vesta, (VTMX), and 7 more

These updates highlight how the portfolio adjusted across different sectors and market conditions, offering insights into allocation shifts and investment trends.

Third Avenue Management Activity

Date	Symbol	Name	Type	Quantity	Value	Remaining
Q3 2021Sep 30, 2021	FPH Five Point Holdings, LLC	Five Point Holdings, LLC	Buy	+28,806+0.3%	$69.67K	8,898,419
Q3 2021Sep 30, 2021	SPHR Sphere Entertainment Co.	Sphere Entertainment Co.	Buy - Position Entry	+27,448	$2.00K	27,448
Q3 2021Sep 30, 2021	CALM Cal-Maine Foods, Inc.	Cal-Maine Foods, Inc.	Buy	+23,541+20.3%	$5.05K	139,635
Q3 2021Sep 30, 2021	STRS Stratus Properties Inc.	Stratus Properties Inc.	Buy	+13,556+10.6%	$4.55K	141,118
Q3 2021Sep 30, 2021	HCC Warrior Met Coal, Inc.	Warrior Met Coal, Inc.	Buy	+5,043+0.3%	$40.27K	1,730,328
Q3 2021Sep 30, 2021	WY Weyerhaeuser Company	Weyerhaeuser Company	Buy	+2,034+0.2%	$29.52K	829,843
Q3 2021Sep 30, 2021	LEN-B Lennar Corporation	Lennar Corporation	Buy	+1,943+0.4%	$37.61K	484,684
Q3 2021Sep 30, 2021	RYN Rayonier Inc. REIT	Rayonier Inc. REIT	Buy	+1,665+0.2%	$29.42K	824,502
Q3 2021Sep 30, 2021	CBRE CBRE Group Inc	CBRE Group Inc	Buy	+1,571+0.9%	$16.27K	167,076
Q3 2021Sep 30, 2021	FNF FNF Group of Fidelity National	FNF Group of Fidelity National	Buy	+639+0.3%	$11.50K	253,673
Q3 2021Sep 30, 2021	ESS Essex Property Trust, Inc.	Essex Property Trust, Inc.	Sell	-56-0.2%	$9.70K	30,334
Q3 2021Sep 30, 2021	UHAL U-Haul Holding Company	U-Haul Holding Company	Sell	-354-0.8%	$27.44K	42,470
Q3 2021Sep 30, 2021	FR First Industrial Realty Trust,	First Industrial Realty Trust,	Sell	-367-0.2%	$10.56K	202,857
Q3 2021Sep 30, 2021	PLD Prologis, Inc.	Prologis, Inc.	Sell	-468-0.2%	$32.03K	255,401
Q3 2021Sep 30, 2021	AMH American Homes 4 Rent	American Homes 4 Rent	Sell	-924-0.2%	$19.28K	505,645
Q3 2021Sep 30, 2021	LOW Lowe's Companies, Inc.	Lowe's Companies, Inc.	Sell	-1,136-1.0%	$23.73K	116,979
Q3 2021Sep 30, 2021	VNO Vornado Realty Trust	Vornado Realty Trust	Sell	-5,728-2.9%	$8.11K	193,011
Q3 2021Sep 30, 2021	BAM Brookfield Asset Management Inc	Brookfield Asset Management Inc	Sell	-6,230-0.7%	$44.34K	828,596
Q3 2021Sep 30, 2021	MHK Mohawk Industries, Inc.	Mohawk Industries, Inc.	Sell	-29,580-30.8%	$11.79K	66,464
Q3 2021Sep 30, 2021	CIO City Office REIT, Inc.	City Office REIT, Inc.	Sell - Position Exit	-46,000-100.0%	$0.00	-
Q3 2021Sep 30, 2021	EXP Eagle Materials Inc	Eagle Materials Inc	Sell - Position Exit	-86,977-100.0%	$0.00	-
Q3 2021Sep 30, 2021	LEN Lennar Corporation	Lennar Corporation	Sell - Position Exit	-90,776-100.0%	$0.00	-
Q3 2021Sep 30, 2021	SRG Seritage Growth Properties	Seritage Growth Properties	Sell	-142,744-41.4%	$3.00K	202,271
Q3 2021Sep 30, 2021	MAC Macerich Company (The)	Macerich Company (The)	Sell - Position Exit	-164,679-100.0%	$0.00	-
Q3 2021Sep 30, 2021	JBGS JBG SMITH Properties	JBG SMITH Properties	Sell	-172,902-24.7%	$15.63K	527,851
Q3 2021Sep 30, 2021	TDW Tidewater Inc.	Tidewater Inc.	Sell	-191,461-7.5%	$28.31K	2,347,512
Q2 2021Jun 30, 2021	HCC Warrior Met Coal, Inc.	Warrior Met Coal, Inc.	Buy	+339,727+24.5%	$29.68K	1,725,285
Q2 2021Jun 30, 2021	STRS Stratus Properties Inc.	Stratus Properties Inc.	Buy - Position Entry	+127,562	$3.15K	127,562
Q2 2021Jun 30, 2021	AMH American Homes 4 Rent	American Homes 4 Rent	Buy	+20,851+4.3%	$19.68K	506,569
Q2 2021Jun 30, 2021	RMR The RMR Group Inc.	The RMR Group Inc.	Buy	+9,000+64.3%	$889.00	23,000

Page 18 of 79 • 2341 total trades

«‹

16 17 18 19 20

›»