Third Avenue Management LLC

In its 13F for Q1 2024 (holdings as of March 31, 2024, filed May 13, 2024), Third Avenue Management LLC reported 58 stock positions worth $626.7 million. Its top holding was Tidewater (TDW) at 7.5% of the portfolio, followed by Warrior Met Coal (HCC, 7.4%) and Deutsche Bank AG-Registered (DB, 6.2%). Compared with Q4 2023, it opened 1 new position, sold out of 2, added to 12 and reduced 14. The biggest buy was a new position in Lazard (LAZ) and the biggest sale Warrior Met Coal (HCC, shares −21%).

Most Recent 13F
Q2 2026
Location
NEW YORK, NY
CIK
0001099281
Portfolio Value
$626.7M (Q1 2024)
SEC Filing
0001099281-24-000007 ↗ filed May 13, 2024

Holdings Value

0$200.0M$400.0M$600.0M$800.0M Q1 2024: $626.7M $626.7M Q1 2024 Q2 2024: $583.0M Q2 2024 Q3 2024: $611.6M Q3 2024 Q4 2024: $516.8M Q4 2024 Q1 2025: $498.7M Q1 2025 Q2 2025: $484.9M Q2 2025 Q3 2025: $532.7M Q3 2025 Q4 2025: $550.2M Q4 2025 Q1 2026: $616.0M Q1 2026 Q2 2026: $625.3M Q2 2026

Holdings 58 stocks · $626.7M
TDW Tidewater Inc. 7.52% 512,220 $47.1M Reduce -27.2%
HCC Warrior Met Coal Inc. 7.40% 764,018 $46.4M Reduce -21.1%
DB Deutsche Bank AG-Registered 6.25% 2,486,280 $39.2M Reduce -0.0%
VAL Valaris Ltd. 5.04% 419,924 $31.6M Reduce -0.0%
CMA Comerica Inc. 4.18% 476,132 $26.2M Reduce -0.0%
LEN.B Lennar Corp. Class B 4.12% 167,294 $25.8M Reduce -3.7%
ORI Old Republic Intl Corp. 4.06% 827,421 $25.4M No change
LAZ Lazard Inc. 3.68% 550,472 $23.0M New
BN Brookfield Corp. 3.24% 484,572 $20.3M Reduce -0.8%
DHI D.R. Horton Inc. 3.23% 122,998 $20.2M No change
UHAL.B U-Haul Holding Co.-Non Voting 3.13% 294,413 $19.6M No change
CBRE CBRE Group Inc. Class A 2.83% 182,200 $17.7M No change
PLD Prologis Inc. 2.43% 116,846 $15.2M Add +0.4%
WY Weyerhaeuser Co. 2.12% 370,804 $13.3M Add +0.2%
UMBF Umb Financial Corp. 2.07% 149,284 $13.0M No change
AMH American Homes 4 Rent- A 1.99% 339,508 $12.5M Add +0.3%
MYRG MYR Group Inc./Delaware 1.91% 67,757 $12.0M No change
RYN Rayonier Inc. 1.80% 339,348 $11.3M Add +0.2%
SUI Sun Communities Inc. filed as SUN CMNTYS INC 1.79% 87,178 $11.2M Add +72.2%
FPH Five Point Holdings LLC Class A 1.65% 3,303,663 $10.3M Add +0.3%
JLL Jones Lang Lasalle Inc. 1.62% 51,990 $10.1M No change
KALU Kaiser Aluminum Corp. 1.58% 110,739 $9.9M No change
HA Hawaiian Holdings Inc. 1.46% 686,011 $9.1M Reduce -15.9%
FR First Industrial Realty TR 1.30% 155,263 $8.2M Add +0.3%
PRA Proassurance Corp. 1.26% 613,103 $7.9M Add +38.2%
ECPG Encore Capital Group Inc. 1.24% 170,678 $7.8M No change
FRPH FRP Holdings Inc. filed as FRP HLDGS INC 1.24% 126,489 $7.8M No change
HBB Hamilton Beach Brand-A 1.23% 317,313 $7.7M Reduce -30.6%
SEB Seaboard Corp. 1.20% 2,334 $7.5M No change
ALG Alamo Group Inc. 1.16% 31,880 $7.3M No change
LXU LSB Industries Inc. 1.10% 787,909 $6.9M Add +66.5%
LOW Lowe's Cos Inc. 1.10% 27,135 $6.9M Reduce -8.7%
BATRA Atlanta Braves Holdings in-A 1.10% 164,438 $6.9M No change
PB Prosperity Bancshares Inc. 1.07% 101,965 $6.7M No change
ICFI Icf International Inc. 1.06% 44,269 $6.7M Reduce -23.4%
ITIC Investors Title Co. 1.02% 39,164 $6.4M No change
FNF Fidelity National Financial 1.00% 117,953 $6.3M No change
SBSI Southside Bancshares Inc. 0.98% 209,426 $6.1M No change
TPH Tri Pointe Homes Inc. 0.96% 155,997 $6.0M No change
BAM Brookfield Asset Mgmt-A 0.88% 131,670 $5.5M No change
SUPN Supernus Pharmaceuticals Inc. 0.87% 159,717 $5.4M No change
WASH Washington Trust Bancorp 0.85% 199,119 $5.4M No change
IVT Inventrust Properties Corp. 0.75% 183,296 $4.7M Reduce -55.9%
CET Central Securities Corp. 0.74% 111,210 $4.6M No change
COLL Collegium Pharmaceutical Inc. 0.67% 108,120 $4.2M Add +30.1%
UNF Unifirst Corp. 0.55% 19,837 $3.4M No change
ELME Elme Communities 0.21% 93,000 $1.3M Add +43.1%
ROIC Retail Opportunity Investmen 0.18% 90,000 $1.2M No change
CTO Cto Realty Growth Inc. filed as CTO RLTY GROWTH INC NEW 0.17% 63,000 $1.1M No change
EQC Equity Commonwealth 0.17% 55,000 $1.0M No change
BATRK Atlanta Braves Holdings in-C 0.16% 26,157 $1.0M Add +0.6%
WSR Whitestone REIT 0.16% 80,000 $1.0M No change
PCH Potlatchdeltic Corp. 0.15% 20,000 $940K No change
RMR RMR Group Inc./the - A 0.14% 37,000 $888K No change
TPHS Trinity Place Holdings Inc. 0.10% 4,109,472 $616K Reduce -19.9%
STC Stewart Information Services 0.05% 5,194 $338K Reduce -69.5%
GRBK Green Brick Partners Inc. 0.05% 5,000 $301K No change
UHAL U-Haul Holding Co. 0.02% 1,456 $98K No change

Portfolio Sells Q4 2023 → Q1 2024
HCC Warrior Met Coal Inc. Reduce -21.1% 7.40% −2.29
IVT Inventrust Properties Corp. Reduce -55.9% 0.75% −0.98
TDW Tidewater Inc. Reduce -27.2% 7.52% −0.81
FIX Comfort Systems USA Inc. Sold out 0.00% −0.66
SPHR Sphere Entertainment Co. Sold out 0.00% −0.59
HA Hawaiian Holdings Inc. Reduce -15.9% 1.46% −0.44
ICFI Icf International Inc. Reduce -23.4% 1.06% −0.21
CMA Comerica Inc. Reduce -0.0% 4.18% −0.18
STC Stewart Information Services Reduce -69.5% 0.05% −0.11
HBB Hamilton Beach Brand-A Reduce -30.6% 1.23% −0.08
TPHS Trinity Place Holdings Inc. Reduce -19.9% 0.10% +0.00
LOW Lowe's Cos Inc. Reduce -8.7% 1.10% +0.02
BN Brookfield Corp. Reduce -0.8% 3.24% +0.02
LEN.B Lennar Corp. Class B Reduce -3.7% 4.12% +0.29
VAL Valaris Ltd. Reduce -0.0% 5.04% +0.32
DB Deutsche Bank AG-Registered Reduce -0.0% 6.25% +0.67

Portfolio Buys Q4 2023 → Q1 2024
LAZ Lazard Inc. New 3.68% +3.68
SUI Sun Communities Inc. Add +72.2% 1.79% +0.68
LXU LSB Industries Inc. Add +66.5% 1.10% +0.38
PRA Proassurance Corp. Add +38.2% 1.26% +0.25
COLL Collegium Pharmaceutical Inc. Add +30.1% 0.67% +0.25
ELME Elme Communities Add +43.1% 0.21% +0.05
WY Weyerhaeuser Co. Add +0.2% 2.12% +0.01
AMH American Homes 4 Rent- A Add +0.3% 1.99% −0.00
BATRK Atlanta Braves Holdings in-C Add +0.6% 0.16% −0.01
FPH Five Point Holdings LLC Class A Add +0.3% 1.65% −0.01
FR First Industrial Realty TR Add +0.3% 1.30% −0.04
RYN Rayonier Inc. Add +0.2% 1.80% −0.06
PLD Prologis Inc. Add +0.4% 2.43% −0.12

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 55$625.3MTDW, BCC, VAL, RHI, HOG
Q1 2026 53$616.0MTDW, VAL, BCC, HCC, HOG
Q4 2025 51$550.2MHCC, TDW, BCC, VAL, BN
Q3 2025 50$532.7MTDW, HCC, VAL, BN, FPH
Q2 2025 52$484.9MTDW, DB, HCC, VAL, BN
Q1 2025 61$498.7MTDW, DB, HCC, VAL, FPH
Q4 2024 59$516.8MDB, TDW, HCC, CBRE, BN
Q3 2024 59$611.6MHCC, DB, TDW, CMA, LEN.B
Q2 2024 59$583.0MTDW, HCC, DB, VAL, ORI
Q1 2024 58$626.7MTDW, HCC, DB, VAL, CMA