Marty Whitman
Third Avenue Management
Third Avenue Management Portfolio 13F
Third Avenue Management Holdings Activity
- Portfolio value:
- $550.21M≈ (+$18M≈)
- Previous value:
- $532.68M≈
- # of changes:
- 40
- New positions:
- 4
- Reported for:
- 31 Dec 2025 (Q4)
- Latest filing date:
- 12 Feb 2026
Third Avenue Management has disclosed a total of 40 changes to the portfolio in the (2025 Q4) SEC report(s): increased the number of shares of 21, bought 4 totally new, decreased the number of shares of 12 and completely sold out 3 position(s).
What stocks did Third Avenue Management buy in 2025 Q4?
During 2025 Q4 Third Avenue Management has bought 25 securities out of which top 5 purchases (by % change to portfolio) were (BCC) Boise Cascad Llc (added shares +57.10%), (BN) Brookfield Corp (added shares +44.91%), (PLD) Prologis Inc (added shares +0.04%), (ROG) Rogers Corp (added shares +0.05%) and (LEN-B) Lennar Corp (added shares +0.11%).
In the 2025 Q4 report(s) the following changes have been made to the top investments: (HCC) Warrior Met Coal Inc (reduced shares -9.13%), (TDW) Tidewater Inc (reduced shares -0.18%), (BCC) Boise Cascad Llc (added shares +57.10%), (VAL) Valaris Ltd (reduced shares -0.21%) and (BN) Brookfield Corp (added shares +44.91%).
40 results
| History | Ticker | Name |
% or activity |
Shares change |
Shares held after* |
% change to portfolio |
Reported price* |
% difference current price* |
% of portfolio |
Held since* | Held for* |
|---|---|---|---|---|---|---|---|---|---|---|---|
|
|
DEUTSCHE BANK AG-REGISTERED
|
new
|
+337,193
|
337,193
|
+2.36%
|
$38.56
|
-4.84%($36.70)
|
2.36%
|
2025 Q4
|
≈ 0.25 years
|
|
|
|
F&G Annuities & Life Inc
|
new
|
+12,319
|
12,319
|
+0.07%
|
$30.85
|
-6.48%($28.85)
|
0.07%
|
2025 Q4
|
≈ 0.25 years
|
|
|
|
FirstService Corp
|
new
|
+18,714
|
18,714
|
+0.53%
|
$155.53
|
-9.51%($140.74)
|
0.53%
|
2025 Q4
|
≈ 0.25 years
|
|
|
|
Flagstar Financial, Inc
|
new
|
+217,305
|
217,305
|
+0.5%
|
$12.59
|
+13.54%($14.30)
|
0.50%
|
2025 Q4
|
≈ 0.25 years
|
|
|
|
Fidelity National Financial Inc
|
+73.04%
|
+86,664
|
205,320
|
+0.86%
|
$54.59
|
-5.65%($51.50)
|
2.04%
|
2016 Q1
|
≈ 10.00 years
|
|
|
|
Alamo Group Inc
|
+61.47%
|
+9,140
|
24,009
|
+0.28%
|
$167.87
|
-4.94%($159.58)
|
0.73%
|
2013 Q2 or earlier
|
≈ 12.75+ years
|
|
|
|
Boise Cascad Llc
|
+57.10%
|
+156,294
|
429,999
|
+2.09%
|
$73.60
|
+2.95%($75.77)
|
5.75%
|
2025 Q3
|
≈ 0.50 years
|
|
|
|
American Homes 4 Rent
|
+45.77%
|
+87,446
|
278,512
|
+0.51%
|
$32.10
|
+4.24%($33.46)
|
1.62%
|
2020 Q2
|
≈ 5.75 years
|
|
|
|
Brookfield Corp
|
+44.91%
|
+169,870
|
548,119
|
+1.42%
|
$45.89
|
-6.91%($42.72)
|
4.57%
|
2013 Q2 or earlier
|
≈ 12.75+ years
|
|
|
|
BlueLinx Holdings Inc
|
+38.79%
|
+17,982
|
64,339
|
+0.2%
|
$61.43
|
-12.97%($53.46)
|
0.72%
|
2025 Q1
|
≈ 1.00 year
|
|
* Shares, change to shares, sold shares, shares held after: split-adjusted.
* Reported price: this doesn't represent the actual buy or sell price. It is the split-adjusted price of the security as of the last day of the reported period.
* Current price: this can be a delayed price and may not reflect the real-time market value, however it is too close.
* Value or Price: If the security is completely sold out, we show the reported value (or price) prior to the actual period.
* Held since / Held for: calculated since the latest "new buy" position. If the security was previously exited and re-entered, only the most recent holding period is counted.