Third Avenue Management LLC
In its 13F for Q1 2026 (holdings as of March 31, 2026, filed May 13, 2026), Third Avenue Management LLC reported 53 stock positions worth $616.0 million. Its top holding was Tidewater (TDW) at 12.5% of the portfolio, followed by Valaris (VAL, 8.1%) and Boise Cascade (BCC, 6.9%). Compared with Q4 2025, it opened 6 new positions, sold out of 4, added to 10 and reduced 26. The biggest buy was a new position in Harley-Davidson (HOG) and the biggest sale Warrior Met Coal (HCC, shares −38%).
- Most Recent 13F
- Q2 2026
- Location
- NEW YORK, NY
- CIK
- 0001099281
- Portfolio Value
- $616.0M (Q1 2026)
- SEC Filing
- 0001099281-26-000005 ↗ filed May 13, 2026
Holdings Value
Holdings 53 stocks · $616.0M
| TDW Tidewater Inc. | 12.49% | 921,181 | $77.0M | Add +5.5% |
| VAL Valaris Ltd. | 8.09% | 508,186 | $49.8M | Reduce -13.0% |
| BCC Boise Cascade Co. | 6.92% | 562,021 | $42.6M | Add +30.7% |
| HCC Warrior Met Coal Inc. | 5.50% | 364,002 | $33.9M | Reduce -37.6% |
| HOG Harley-Davidson Inc. | 4.80% | 1,462,670 | $29.6M | New |
| RHI Robert Half Inc. | 3.73% | 903,905 | $23.0M | New |
| BN Brookfield Corp. | 3.16% | 481,495 | $19.5M | Reduce -12.2% |
| FPH Five Point Holdings LLC Class A | 3.03% | 3,861,162 | $18.7M | Reduce -6.1% |
| CBRE CBRE Group Inc. Class A | 3.00% | 136,330 | $18.5M | Reduce -7.2% |
| PLD Prologis Inc. | 2.70% | 125,945 | $16.6M | Reduce -13.4% |
| ROG Rogers Corp. | 2.63% | 151,025 | $16.2M | Reduce -24.3% |
| UHAL.B U-Haul Holding Co.-Non Voting | 2.06% | 284,375 | $12.7M | Add +9.7% |
| LEN.B Lennar Corp. Class B | 1.95% | 142,843 | $12.0M | Reduce -3.5% |
| SUI Sun Communities Inc. filed as SUN CMNTYS INC | 1.87% | 91,455 | $11.5M | Reduce -5.6% |
| PHM Pultegroup Inc. | 1.82% | 95,128 | $11.2M | Reduce -5.5% |
| DHI D.R. Horton Inc. | 1.64% | 73,836 | $10.1M | Reduce -5.6% |
| ECPG Encore Capital Group Inc. | 1.62% | 142,512 | $10.0M | Reduce -16.7% |
| JLL Jones Lang Lasalle Inc. | 1.60% | 32,407 | $9.9M | Reduce -5.7% |
| FNF Fidelity National Financial | 1.46% | 193,455 | $9.0M | Reduce -5.8% |
| UMBF Umb Financial Corp. | 1.43% | 78,245 | $8.8M | No change |
| MYRG MYR Group Inc./Delaware | 1.32% | 28,819 | $8.1M | Reduce -18.9% |
| SUPN Supernus Pharmaceuticals Inc. | 1.28% | 152,724 | $7.9M | Reduce -19.4% |
| BATRA Atlanta Braves Holdings in-A | 1.26% | 164,438 | $7.8M | No change |
| SKY Champion Homes Inc. | 1.22% | 100,757 | $7.5M | Reduce -5.3% |
| AMH American Homes 4 Rent- A | 1.19% | 262,520 | $7.3M | Reduce -5.7% |
| TPH Tri Pointe Homes Inc. | 1.18% | 155,855 | $7.3M | No change |
| UNF Unifirst Corp. | 1.16% | 28,434 | $7.2M | No change |
| FSV Firstservice Corp. | 1.14% | 50,452 | $7.0M | Add +169.6% |
| PB Prosperity Bancshares Inc. | 1.11% | 102,168 | $6.9M | No change |
| PRA Proassurance Corp. | 1.05% | 260,608 | $6.4M | Reduce -11.1% |
| BKD Brookdale Senior Living Inc. | 1.03% | 463,664 | $6.3M | New |
| PBF PBF Energy Inc. Class A | 1.01% | 131,050 | $6.2M | No change |
| OSG Octave Specialty Group Inc. | 1.01% | 1,341,211 | $6.2M | Add +71.5% |
| LXU LSB Industries Inc. | 0.92% | 381,096 | $5.7M | Reduce -51.7% |
| ALG Alamo Group Inc. | 0.92% | 34,332 | $5.7M | Add +43.0% |
| SD Sandridge Energy Inc. | 0.88% | 330,818 | $5.4M | No change |
| WCC Wesco International Inc. | 0.85% | 19,243 | $5.3M | Reduce -5.2% |
| CPRX Catalyst Pharmaceuticals Inc. | 0.84% | 210,161 | $5.2M | New |
| COLL Collegium Pharmaceutical Inc. | 0.83% | 155,143 | $5.1M | Reduce -23.7% |
| CET Central Securities Corp. | 0.82% | 101,812 | $5.1M | No change |
| ITIC Investors Title Co. | 0.77% | 21,894 | $4.8M | No change |
| FR First Industrial Realty TR | 0.76% | 81,016 | $4.7M | Reduce -22.6% |
| ICFI Icf International Inc. | 0.76% | 71,736 | $4.7M | Add +35.7% |
| OCFC Oceanfirst Financial Corp. | 0.72% | 246,662 | $4.4M | Add +27.9% |
| FLG Flagstar Bank NA | 0.71% | 331,241 | $4.4M | Add +52.4% |
| WY Weyerhaeuser Co. | 0.64% | 162,377 | $4.0M | Reduce -5.4% |
| SBSI Southside Bancshares Inc. | 0.59% | 116,879 | $3.6M | No change |
| KALU Kaiser Aluminum Corp. | 0.58% | 29,881 | $3.6M | Reduce -65.0% |
| BXC Bluelinx Holdings Inc. | 0.57% | 64,369 | $3.5M | Add +0.1% |
| QLYS Qualys Inc. | 0.56% | 39,120 | $3.4M | New |
| FRPH FRP Holdings Inc. filed as FRP HLDGS INC | 0.38% | 107,160 | $2.3M | Reduce -0.3% |
| COMP Compass Inc. Class A | 0.22% | 187,469 | $1.4M | New |
| BATRK Atlanta Braves Holdings in-C | 0.18% | 26,104 | $1.1M | No change |
Portfolio Sells Q4 2025 → Q1 2026
| HCC Warrior Met Coal Inc. | Reduce -37.6% | 5.50% | −3.84 |
| DB Deutsche Bank AG-Registered | Sold out | 0.00% | −2.36 |
| BN Brookfield Corp. | Reduce -12.2% | 3.16% | −1.41 |
| CBRE CBRE Group Inc. Class A | Reduce -7.2% | 3.00% | −1.29 |
| KALU Kaiser Aluminum Corp. | Reduce -65.0% | 0.58% | −1.20 |
| FPH Five Point Holdings LLC Class A | Reduce -6.1% | 3.03% | −1.15 |
| COLL Collegium Pharmaceutical Inc. | Reduce -23.7% | 0.83% | −0.88 |
| RYN Rayonier Inc. | Sold out | 0.00% | −0.74 |
| CTLP Cantaloupe Inc. | Sold out | 0.00% | −0.71 |
| ROG Rogers Corp. | Reduce -24.3% | 2.63% | −0.69 |
| PLD Prologis Inc. | Reduce -13.4% | 2.70% | −0.67 |
| LEN.B Lennar Corp. Class B | Reduce -3.5% | 1.95% | −0.61 |
| FNF Fidelity National Financial | Reduce -5.8% | 1.46% | −0.58 |
| JLL Jones Lang Lasalle Inc. | Reduce -5.7% | 1.60% | −0.50 |
| AMH American Homes 4 Rent- A | Reduce -5.7% | 1.19% | −0.44 |
| SUPN Supernus Pharmaceuticals Inc. | Reduce -19.4% | 1.28% | −0.43 |
| SKY Champion Homes Inc. | Reduce -5.3% | 1.22% | −0.42 |
| DHI D.R. Horton Inc. | Reduce -5.6% | 1.64% | −0.40 |
| PHM Pultegroup Inc. | Reduce -5.5% | 1.82% | −0.33 |
| FR First Industrial Realty TR | Reduce -22.6% | 0.76% | −0.33 |
| SUI Sun Communities Inc. | Reduce -5.6% | 1.87% | −0.31 |
| LXU LSB Industries Inc. | Reduce -51.7% | 0.92% | −0.30 |
| PRA Proassurance Corp. | Reduce -11.1% | 1.05% | −0.24 |
| WY Weyerhaeuser Co. | Reduce -5.4% | 0.64% | −0.09 |
| MYRG MYR Group Inc./Delaware | Reduce -18.9% | 1.32% | −0.09 |
| FG F&G Annuities & Life Inc. | Sold out | 0.00% | −0.07 |
| ECPG Encore Capital Group Inc. | Reduce -16.7% | 1.62% | −0.07 |
| FRPH FRP Holdings Inc. | Reduce -0.3% | 0.38% | −0.06 |
| WCC Wesco International Inc. | Reduce -5.2% | 0.85% | −0.05 |
| VAL Valaris Ltd. | Reduce -13.0% | 8.09% | +2.73 |
Portfolio Buys Q4 2025 → Q1 2026
| HOG Harley-Davidson Inc. | New | 4.80% | +4.80 |
| TDW Tidewater Inc. | Add +5.5% | 12.49% | +4.48 |
| RHI Robert Half Inc. | New | 3.73% | +3.73 |
| BCC Boise Cascade Co. | Add +30.7% | 6.92% | +1.17 |
| BKD Brookdale Senior Living Inc. | New | 1.03% | +1.03 |
| CPRX Catalyst Pharmaceuticals Inc. | New | 0.84% | +0.84 |
| FSV Firstservice Corp. | Add +169.6% | 1.14% | +0.61 |
| QLYS Qualys Inc. | New | 0.56% | +0.56 |
| COMP Compass Inc. Class A | New | 0.22% | +0.22 |
| FLG Flagstar Bank NA | Add +52.4% | 0.71% | +0.21 |
| ALG Alamo Group Inc. | Add +43.0% | 0.92% | +0.19 |
| OCFC Oceanfirst Financial Corp. | Add +27.9% | 0.72% | +0.09 |
| ICFI Icf International Inc. | Add +35.7% | 0.76% | −0.06 |
| OSG Octave Specialty Group Inc. | Add +71.5% | 1.01% | −0.09 |
| UHAL.B U-Haul Holding Co.-Non Voting | Add +9.7% | 2.06% | −0.14 |
| BXC Bluelinx Holdings Inc. | Add +0.1% | 0.57% | −0.15 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 55 | $625.3M | TDW, BCC, VAL, RHI, HOG |
| Q1 2026 | 53 | $616.0M | TDW, VAL, BCC, HCC, HOG |
| Q4 2025 | 51 | $550.2M | HCC, TDW, BCC, VAL, BN |
| Q3 2025 | 50 | $532.7M | TDW, HCC, VAL, BN, FPH |
| Q2 2025 | 52 | $484.9M | TDW, DB, HCC, VAL, BN |
| Q1 2025 | 61 | $498.7M | TDW, DB, HCC, VAL, FPH |
| Q4 2024 | 59 | $516.8M | DB, TDW, HCC, CBRE, BN |
| Q3 2024 | 59 | $611.6M | HCC, DB, TDW, CMA, LEN.B |
| Q2 2024 | 59 | $583.0M | TDW, HCC, DB, VAL, ORI |
| Q1 2024 | 58 | $626.7M | TDW, HCC, DB, VAL, CMA |