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 2013Sep 30, 2013	HIO Western Asset High Income Oppor	Western Asset High Income Oppor	Buy - Position Entry	+179,449	$1.07K	179,449
Q3 2013Sep 30, 2013	CSWC Capital Southwest Corporation	Capital Southwest Corporation	Buy	+170,529+300.0%	$7.78K	227,372
Q3 2013Sep 30, 2013	EME EMCOR Group, Inc.	EMCOR Group, Inc.	Buy	+158,580+15.0%	$47.56K	1,215,455
Q3 2013Sep 30, 2013	BIG		Buy	+125,910+39.2%	$16.58K	447,053
Q3 2013Sep 30, 2013	PRGS Progress Software Corporation	Progress Software Corporation	Buy	+75,800+4.4%	$46.46K	1,795,337
Q3 2013Sep 30, 2013	TFX Teleflex Incorporated	Teleflex Incorporated	Buy	+71,565+14.7%	$45.89K	557,733
Q3 2013Sep 30, 2013	AEO American Eagle Outfitters, Inc.	American Eagle Outfitters, Inc.	Buy	+66,765+12.1%	$8.65K	618,067
Q3 2013Sep 30, 2013	SCL Stepan Company	Stepan Company	Buy	+61,545+13.0%	$30.79K	533,312
Q3 2013Sep 30, 2013	CMP Compass Minerals Intl Inc	Compass Minerals Intl Inc	Buy	+55,128+11.2%	$41.88K	549,128
Q3 2013Sep 30, 2013	ENS EnerSys	EnerSys	Buy	+52,785+5.4%	$62.70K	1,034,161
Q3 2013Sep 30, 2013	CALM Cal-Maine Foods, Inc.	Cal-Maine Foods, Inc.	Buy	+48,303+8.8%	$28.77K	598,032
Q3 2013Sep 30, 2013	KALU Kaiser Aluminum Corporation	Kaiser Aluminum Corporation	Buy	+35,000+8.1%	$33.44K	469,302
Q3 2013Sep 30, 2013	HYI Western Asset High Yield Define	Western Asset High Yield Define	Buy - Position Entry	+28,942	$517.00	28,942
Q3 2013Sep 30, 2013	ALCO Alico, Inc.	Alico, Inc.	Buy	+20,346+6.3%	$14.16K	343,912
Q3 2013Sep 30, 2013	ABM ABM Industries Incorporated	ABM Industries Incorporated	Buy	+15,175+1.5%	$27.73K	1,041,798
Q3 2013Sep 30, 2013	CFFN Capitol Federal Financial, Inc.	Capitol Federal Financial, Inc.	Buy - Position Entry	+14,075	$175.00	14,075
Q3 2013Sep 30, 2013	SXT Sensient Technologies Corporati	Sensient Technologies Corporati	Buy	+10,000+1.2%	$41.66K	869,882
Q3 2013Sep 30, 2013	G9618E107 White Mountains	White Mountains	Buy	+3,551+1.3%	$153.72K	270,824
Q3 2013Sep 30, 2013	SNY Sanofi	Sanofi	Buy	+640+4.9%	$700.00	13,830
Q3 2013Sep 30, 2013	VNO Vornado Realty Trust	Vornado Realty Trust	Buy	+250+0.0%	$55.54K	660,669
Q3 2013Sep 30, 2013	LXU LSB Industries, Inc.	LSB Industries, Inc.	Buy	+200+0.0%	$37.58K	1,120,678
Q3 2013Sep 30, 2013	H Hyatt Hotels Corporation	Hyatt Hotels Corporation	Sell	-1,170-0.2%	$21.06K	490,229
Q3 2013Sep 30, 2013	LOW Lowe's Companies, Inc.	Lowe's Companies, Inc.	Sell	-1,400-0.1%	$87.84K	1,844,950
Q3 2013Sep 30, 2013	NVDA NVIDIA Corporation	NVIDIA Corporation	Sell	-3,183-0.1%	$50.76K	3,262,133
Q3 2013Sep 30, 2013	PKX POSCO Holdings Inc.	POSCO Holdings Inc.	Sell	-8,280-0.3%	$198.70K	2,698,251
Q3 2013Sep 30, 2013	ALG Alamo Group, Inc.	Alamo Group, Inc.	Sell	-15,000-2.9%	$24.98K	510,789
Q3 2013Sep 30, 2013	IIIN Insteel Industries, Inc.	Insteel Industries, Inc.	Sell	-25,000-3.7%	$10.45K	649,222
Q3 2013Sep 30, 2013	MTX Minerals Technologies Inc.	Minerals Technologies Inc.	Sell	-46,801-7.0%	$30.80K	623,872
Q3 2013Sep 30, 2013	CASS Cass Information Systems, Inc	Cass Information Systems, Inc	Sell	-54,720-22.0%	$10.35K	193,854
Q3 2013Sep 30, 2013	KELYA Kelly Services, Inc.	Kelly Services, Inc.	Sell	-59,300-20.9%	$4.38K	225,000

Page 75 of 79 • 2341 total trades

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