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 2018Sep 30, 2018	TPHS Trinity Place Holdings Inc.	Trinity Place Holdings Inc.	Buy	+14,085+0.3%	$30.14K	4,948,595
Q3 2018Sep 30, 2018	VC Visteon Corporation	Visteon Corporation	Buy	+8,208+15.5%	$5.69K	61,260
Q3 2018Sep 30, 2018	RYN Rayonier Inc. REIT	Rayonier Inc. REIT	Buy	+5,037+0.2%	$80.23K	2,372,835
Q3 2018Sep 30, 2018	MAC Macerich Company (The)	Macerich Company (The)	Buy	+4,742+0.3%	$87.66K	1,585,516
Q3 2018Sep 30, 2018	GRBK Green Brick Partners, Inc.	Green Brick Partners, Inc.	Buy	+3,200+6.4%	$538.00	53,200
Q3 2018Sep 30, 2018	AKR Acadia Realty Trust	Acadia Realty Trust	Buy	+2,964+0.2%	$51.34K	1,831,470
Q3 2018Sep 30, 2018	VNO Vornado Realty Trust	Vornado Realty Trust	Buy	+2,263+0.3%	$61.01K	835,693
Q3 2018Sep 30, 2018	LEN Lennar Corporation	Lennar Corporation	Buy	+2,025+0.1%	$122.76K	2,629,208
Q3 2018Sep 30, 2018	FNF FNF Group of Fidelity National	FNF Group of Fidelity National	Buy	+1,653+0.3%	$21.44K	544,922
Q3 2018Sep 30, 2018	LOW Lowe's Companies, Inc.	Lowe's Companies, Inc.	Buy	+1,307+0.3%	$55.23K	481,026
Q3 2018Sep 30, 2018	SMHI SEACOR Marine Holdings Inc.	SEACOR Marine Holdings Inc.	Buy	+259+0.1%	$8.10K	357,909
Q3 2018Sep 30, 2018	UHAL U-Haul Holding Company	U-Haul Holding Company	Buy	+221+0.3%	$31.26K	87,659
Q3 2018Sep 30, 2018	PNC PNC Financial Services Group, I	PNC Financial Services Group, I	Buy	+3+0.0%	$5.62K	41,252
Q3 2018Sep 30, 2018	SEB Seaboard Corporation	Seaboard Corporation	Buy	+2+0.1%	$5.26K	1,417
Q3 2018Sep 30, 2018	FCN FTI Consulting, Inc.	FTI Consulting, Inc.	Sell	-46-0.0%	$9.82K	134,122
Q3 2018Sep 30, 2018	TTEK Tetra Tech, Inc.	Tetra Tech, Inc.	Sell	-60-0.0%	$8.99K	131,673
Q3 2018Sep 30, 2018	G9618E107 White Mountains	White Mountains	Sell	-96-0.3%	$26.81K	28,649
Q3 2018Sep 30, 2018	TTE TotalEnergies SE	TotalEnergies SE	Sell	-201-24.7%	$40.00	612
Q3 2018Sep 30, 2018	VVI Viad Corp	Viad Corp	Sell	-293-0.3%	$6.41K	108,235
Q3 2018Sep 30, 2018	CMA Comerica Incorporated	Comerica Incorporated	Sell	-5,615-1.0%	$48.01K	532,225
Q3 2018Sep 30, 2018	CSWC Capital Southwest Corporation	Capital Southwest Corporation	Sell	-9,774-6.5%	$2.67K	140,574
Q3 2018Sep 30, 2018	CSWI CSW Industrials, Inc.	CSW Industrials, Inc.	Sell	-9,774-6.5%	$7.55K	140,574
Q3 2018Sep 30, 2018	TDW Tidewater Inc.	Tidewater Inc.	Sell	-21,069-0.9%	$69.81K	2,238,085
Q3 2018Sep 30, 2018	FIX Comfort Systems USA, Inc.	Comfort Systems USA, Inc.	Sell	-21,567-16.0%	$6.38K	113,130
Q3 2018Sep 30, 2018	CCS Century Communities, Inc.	Century Communities, Inc.	Sell	-30,000-41.9%	$1.09K	41,671
Q3 2018Sep 30, 2018	AMN AMN Healthcare Services Inc	AMN Healthcare Services Inc	Sell	-31,994-36.5%	$3.05K	55,755
Q3 2018Sep 30, 2018	ICFI ICF International, Inc.	ICF International, Inc.	Sell	-32,278-22.3%	$8.51K	112,787
Q3 2018Sep 30, 2018	BAM Brookfield Asset Management Ltd.	Brookfield Asset Management Ltd.	Sell	-41,835-1.0%	$177.13K	3,977,742
Q3 2018Sep 30, 2018	BK The Bank of New York Mellon Cor	The Bank of New York Mellon Cor	Sell	-130,866-16.7%	$33.20K	651,082
Q3 2018Sep 30, 2018	FR First Industrial Realty Trust,	First Industrial Realty Trust,	Sell	-279,989-16.4%	$44.75K	1,425,033

Page 34 of 79 • 2341 total trades

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