Third Avenue Management

Third Avenue Management

13F
Third Avenue Management
Last update 2024-11-14 59 Stocks (2 new)
Value $612.00 Mil Turnover 2 %
Countries:
Top Holdings: HCC(8.31%)DB(7.04%)TDW(5.65%)CMA(4.66%)LEN.B(4.57%)
Portfolio Report

Third Avenue Management Profile

Founded by legendary value investor Martin Whitman, Third Avenue Management manages mutual funds, separate accounts and hedge funds. Since 2002, Third Avenue Management has partnered with Affiliated Managers Group, a publicly traded asset manager that has invested in a diverse stable of boutique asset management firms. This partnership allowed Third Avenue to extend ownership rights to its senior professionals, including key members of the investment team, providing a clear and transparent succession plan for the Firm and all of its principals.
Third Avenue Management manages assets across four core strategies — Value, Small-Cap, Real Estate and International Real Estate – which are available to investors through 40Act mutual funds, institutional separately managed accounts and a Real Estate Value Fund UCITS for non-U.S. investors.

Third Avenue Management Investing Philosophy

For over 25 years, Third Avenue Management has consistently pursued a fundamental, bottom-up approach to deep value and distressed investing. Third Avenue takes an unconstrained investment approach and pursues opportunities across market capitalizations and geographies. The firm's core real estate, value and small-cap strategies focus on high-conviction ideas, pursuing maximum allocation to the best risk-adjusted return prospects across our universe.
Summary Stock Picks Current Portfolio

Third Avenue Management Portfolio and Latest Trades

Type:
Ticker
Company
Date
Action
Impact %
Price Range
Price
Price Change from Avrg%
Comment
Current Shares
Share Change
DB 		Deutsche Bank AG2022-12-31New Buy
+5.68%
●
7.44 ($9.86) 11.52
$16.29
65.21%
New holding
2,888,365
2,888,365
UHAL 		U-Haul Holding Co2022-12-31Reduce
-3.70%
●
50.32 ($57.53) 66.84
$71.45
24.20%
Reduce -99.59%
1,508
-369,442
LAZ 		Lazard Inc2024-03-31New Buy
+3.68%
●
36.12 ($38.95) 41.87
$57.72
48.19%
New holding
550,472
550,472
UHAL.B 		U-Haul Holding Co2022-12-31New Buy
+2.99%
●
52.06 ($57.91) 66.74
$63.33
9.36%
New holding
312,444
312,444
LAZ 		Lazard Inc2023-12-31Sold Out
-2.86%
●
26.4 ($30.12) 35.21
$57.72
91.63%
Sold Out
0
-550,206
TDW 		Tidewater Inc2023-03-31Reduce
-2.67%
●
34.02 ($42.97) 51.78
$50.27
16.99%
Reduce -23.02%
1,394,007
-416,918
TDW 		Tidewater Inc2023-09-30Reduce
-2.65%
●
54.09 ($63.14) 72.99
$50.27
-20.38%
Reduce -26.34%
809,185
-289,414
HCC 		Warrior Met Coal Inc2023-12-31Reduce
-2.56%
●
45.6 ($52.78) 62.28
$70.30
33.19%
Reduce -23.63%
967,899
-299,454
TDW 		Tidewater Inc2024-03-31Reduce
-2.27%
●
64.82 ($74.59) 92.2
$50.27
-32.60%
Reduce -27.2%
512,220
-191,411
TDW 		Tidewater Inc2023-06-30Reduce
-2.23%
●
39.6 ($45.76) 55.44
$50.27
9.86%
Reduce -21.19%
1,098,599
-295,408
HCC 		Warrior Met Coal Inc2024-03-31Reduce
-2.04%
●
53.03 ($60.58) 69.97
$70.30
16.04%
Reduce -21.06%
764,018
-203,881
ORI 		Old Republic International Corp2024-09-30Reduce
-1.69%
●
29.89 ($33.84) 35.9
$38.98
15.19%
Reduce -38.39%
510,054
-317,794
HA Hawaiian Holdings Inc2024-06-30Sold Out
-1.46%
●
12.12 ($13.07) 13.8
$18.00
37.72%
Sold Out
0
-686,011
HA Hawaiian Holdings Inc2023-03-31Add
+1.43%
●
7.58 ($10.59) 13.35
$18.00
69.97%
Add 141%
1,556,133
910,431
CMA 		Comerica Inc2023-03-31Add
+1.31%
●
40.4 ($64.09) 76.94
$72.32
12.84%
Add 58.3%
480,358
176,912
TDW 		Tidewater Inc2023-12-31Reduce
-1.28%
●
56.21 ($64.75) 76.07
$50.27
-22.36%
Reduce -13.04%
703,631
-105,554
JLL 		Jones Lang LaSalle Inc2023-03-31New Buy
+1.27%
●
137.2 ($166.69) 185.01
$282.22
69.31%
New holding
51,235
51,235
TDW 		Tidewater Inc2022-12-31Reduce
-1.23%
●
22.88 ($30.42) 36.85
$50.27
65.25%
Reduce -13.68%
1,810,925
-286,932
LAZ 		Lazard Inc2024-09-30Reduce
-1.23%
●
38.76 ($46.33) 51.03
$57.72
24.58%
Reduce -34.18%
362,515
-188,294
VAL 		Valaris Ltd2023-06-30Add
+1.15%
●
55 ($60.35) 66.96
$45.57
-24.49%
Add 35.74%
419,726
110,522
ECPG 		Encore Capital Group Inc2022-12-31New Buy
+1.00%
●
45.06 ($48.23) 50.98
$49.38
2.38%
New holding
119,531
119,531
DB 		Deutsche Bank AG2023-09-30Reduce
-0.98%
●
9.94 ($10.81) 11.66
$16.29
50.69%
Reduce -18.48%
2,485,341
-563,229
IVT 		InvenTrust Properties Corp2024-03-31Reduce
-0.97%
●
24.51 ($25.18) 25.85
$31.30
24.31%
Reduce -55.9%
183,296
-232,379
LOW 		Lowe's Companies Inc2023-12-31Reduce
-0.95%
●
183.62 ($202.7) 225.59
$273.19
34.78%
Reduce -47.83%
29,730
-27,262
WASH 		Washington Trust Bancorp Inc2024-09-30Sold Out
-0.94%
●
25.83 ($30.56) 34.26
$37.32
22.12%
Sold Out
0
-199,119
LEN.B 		Lennar Corp2023-06-30Reduce
-0.92%
●
86.71 ($98.59) 112.98
$164.37
66.72%
Reduce -21.98%
213,368
-60,100
EME 		EMCOR Group Inc2023-06-30Sold Out
-0.91%
●
152.82 ($167.2) 184.78
$507.95
203.80%
Sold Out
0
-32,597
HA Hawaiian Holdings Inc2023-12-31Reduce
-0.82%
●
3.91 ($7.42) 14.69
$18.00
142.59%
Reduce -47.79%
815,579
-746,546
CCF Chase Corp2023-09-30Sold Out
-0.80%
●
115.04 ($125.27) 127.94
$127.49
1.77%
Sold Out
0
-40,192
LEN.B 		Lennar Corp2022-12-31Reduce
-0.77%
●
57.92 ($68.29) 77.74
$164.37
140.69%
Reduce -16.64%
328,008
-65,463
SUI 		Sun Communities Inc2024-03-31Add
+0.75%
●
123.35 ($129.82) 135.95
$128.56
-0.97%
Add 72.17%
87,178
36,544
LEN.B 		Lennar Corp2023-03-31Reduce
-0.71%
●
76.13 ($83.64) 89.35
$164.37
96.52%
Reduce -16.63%
273,468
-54,540
CMA 		Comerica Inc2023-09-30Reduce
-0.69%
●
39.95 ($47.42) 53.96
$72.32
52.51%
Reduce -17.22%
475,896
-99,010
LXU 		LSB Industries Inc2023-12-31Add
+0.67%
●
7.82 ($9.12) 10.4
$8.66
-5.04%
Add 1445.54%
473,214
442,596
DHI 		D.R. Horton Inc2024-09-30Reduce
-0.66%
●
135.21 ($175.74) 197.06
$169.43
-3.59%
Reduce -25.71%
78,745
-27,245
FIX 		Comfort Systems USA Inc2024-03-31Sold Out
-0.66%
●
195.89 ($255.45) 323.29
$486.65
90.51%
Sold Out
0
-19,434
HA Hawaiian Holdings Inc2022-12-31Reduce
-0.66%
●
9.67 ($13.36) 15.33
$18.00
34.73%
Reduce -28.33%
645,702
-255,286
CMA 		Comerica Inc2023-06-30Add
+0.66%
●
31.21 ($40.46) 47.09
$72.32
78.74%
Add 19.68%
574,906
94,548
BAM 		Brookfield Asset Management Ltd2022-12-31New Buy
+0.65%
●
27.11 ($30.09) 33.01
$57.26
90.30%
New holding
130,159
130,159
DHI 		D.R. Horton Inc2023-12-31Reduce
-0.65%
●
100.66 ($123.13) 153.13
$169.43
37.60%
Reduce -22.55%
122,998
-35,816
IVT 		InvenTrust Properties Corp2023-03-31Reduce
-0.61%
●
21.31 ($23.6) 25.22
$31.30
32.63%
Reduce -21.58%
542,852
-149,368
SPHR 		Sphere Entertainment Co2024-03-31Sold Out
-0.59%
●
30.33 ($40.08) 50.89
$40.22
0.35%
Sold Out
0
-105,583
JLL 		Jones Lang LaSalle Inc2023-06-30Add
+0.59%
●
127.27 ($141.85) 155.8
$282.22
98.96%
Add 45.17%
74,378
23,143
ITIC 		Investors Title Co2023-09-30Add
+0.57%
●
143.89 ($150.27) 158.65
$285.26
89.83%
Add 343.56%
29,599
22,926
DHI 		D.R. Horton Inc2023-06-30Reduce
-0.56%
●
95.64 ($109.16) 123.05
$169.43
55.21%
Reduce -16.9%
165,678
-33,696
SD 		SandRidge Energy Inc2024-09-30New Buy
+0.56%
●
11.62 ($12.78) 13.82
$11.62
-9.08%
New holding
280,554
280,554
PLD 		Prologis Inc2023-09-30Reduce
-0.56%
●
111.25 ($122.33) 129.28
$117.80
-3.70%
Reduce -18.5%
122,689
-27,842
LEN.B 		Lennar Corp2023-12-31Reduce
-0.56%
●
94.82 ($114.13) 139.79
$164.37
44.02%
Reduce -15.62%
173,710
-32,162
UMBF 		UMB Financial Corp2024-09-30Reduce
-0.55%
●
81.41 ($97.49) 108.86
$126.05
29.30%
Reduce -25.71%
110,896
-38,388
HCC 		Warrior Met Coal Inc2022-12-31Reduce
-0.55%
●
29.84 ($35.37) 39.08
$70.30
98.76%
Reduce -7.18%
1,274,614
-98,620
LOW 		Lowe's Companies Inc2024-06-30Reduce
-0.53%
●
214.27 ($228.13) 249.28
$273.19
19.75%
Reduce -48.05%
14,096
-13,039
LOW 		Lowe's Companies Inc2024-09-30Sold Out
-0.53%
●
213.3 ($242.19) 270.85
$273.19
12.80%
Sold Out
0
-14,096
JLL 		Jones Lang LaSalle Inc2023-12-31Reduce
-0.52%
●
121.97 ($151.29) 189.98
$282.22
86.54%
Reduce -29.99%
51,990
-22,268
LAZ 		Lazard Ltd2023-03-31Add
+0.52%
●
32.2 ($36.89) 41.16
$57.72
56.47%
Add 20.09%
547,950
91,664
SUI 		Sun Communities Inc2023-09-30Add
+0.50%
●
118.34 ($126.92) 141.17
$128.56
1.29%
Add 217.16%
36,527
25,010
LOW 		Lowe's Companies Inc2022-12-31Reduce
-0.50%
●
178.3 ($199.87) 215.48
$273.19
36.68%
Reduce -17.96%
62,159
-13,607
HCC 		Warrior Met Coal Inc2023-09-30Reduce
-0.50%
●
38.08 ($41.98) 51.08
$70.30
67.46%
Reduce -5.77%
1,267,353
-77,558
TDW 		Tidewater Inc2024-09-30Reduce
-0.46%
●
69.32 ($87.13) 106.47
$50.27
-42.30%
Reduce -5.56%
481,474
-28,337
TPH 		Tri Pointe Homes Inc2023-06-30Reduce
-0.45%
●
24.75 ($29.22) 33.16
$43.62
49.28%
Reduce -39.88%
155,997
-103,466
DHI 		D.R. Horton Inc2024-06-30Reduce
-0.45%
●
139.4 ($146.91) 161.88
$169.43
15.33%
Reduce -13.83%
105,990
-17,008
IVT 		InvenTrust Properties Corp2023-06-30Reduce
-0.44%
●
20.92 ($22.57) 23.98
$31.30
38.68%
Reduce -20.27%
432,819
-110,033
WASH 		Washington Trust Bancorp Inc2023-12-31Reduce
-0.44%
●
21.78 ($27.22) 33.64
$37.32
37.11%
Reduce -32.5%
199,119
-95,875
KALU 		Kaiser Aluminum Corp2024-06-30Reduce
-0.44%
●
85.94 ($93.06) 101.2
$81.66
-12.25%
Reduce -28.1%
79,623
-31,116
LXU 		LSB Industries Inc2024-03-31Add
+0.44%
●
7.14 ($7.88) 9.34
$8.66
9.90%
Add 66.5%
787,909
314,695
HCC 		Warrior Met Coal Inc2023-03-31Add
+0.43%
●
32.11 ($36.97) 42.44
$70.30
90.15%
Add 5.39%
1,343,267
68,653
SUI 		Sun Communities Inc2024-06-30Add
+0.43%
●
111.32 ($118.82) 128.2
$128.56
8.20%
Add 23.65%
107,795
20,617
PBF 		PBF Energy Inc2024-09-30New Buy
+0.43%
●
30.68 ($36.33) 46.49
$31.39
-13.60%
New holding
85,958
85,958
WASH 		Washington Trust Bancorp Inc2023-09-30Add
+0.42%
●
26.11 ($28.55) 32.07
$37.32
30.72%
Add 44.5%
294,994
90,842
COLL 		Collegium Pharmaceutical Inc2023-12-31New Buy
+0.42%
●
21.16 ($25.05) 30.8
$30.71
22.59%
New holding
83,120
83,120
COLL 		Collegium Pharmaceutical Inc2024-06-30Add
+0.41%
●
31.36 ($34.67) 39.99
$30.71
-11.42%
Add 68.59%
182,281
74,161
MSGE 		Madison Square Garden Entertainment Corp2023-06-30Sold Out
-0.41%
●
28.7 ($34.31) 40.09
$36.64
6.79%
Sold Out
0
-81,238
BSIG 		BrightSphere Investment Group Inc2022-12-31Sold Out
-0.40%
●
15.15 ($18.88) 20.82
$31.21
65.31%
Sold Out
0
-137,908
HBB 		Hamilton Beach Brands Holding Co2024-03-31Reduce
-0.40%
●
17.39 ($19.39) 24.65
$19.81
2.17%
Reduce -30.65%
317,313
-140,264
KALU 		Kaiser Aluminum Corp2023-06-30Add
+0.38%
●
57.36 ($66.24) 74.81
$81.66
23.28%
Add 50.39%
96,721
32,406
RYN 		Rayonier Inc2023-12-31Reduce
-0.38%
●
25.15 ($29.46) 34.09
$31.82
8.01%
Reduce -19%
338,721
-79,472
PLD 		Prologis Inc2023-06-30Reduce
-0.38%
●
116.9 ($123.04) 128.08
$117.80
-4.26%
Reduce -10.49%
150,531
-17,635
FPH 		Five Point Holdings LLC2023-03-31Reduce
-0.38%
●
2.03 ($2.34) 2.77
$4.02
71.79%
Reduce -19.8%
3,752,600
-926,403
FNF 		Fidelity National Financial Inc2023-03-31Reduce
-0.37%
●
32.11 ($39.35) 44.74
$63.51
61.40%
Reduce -32.02%
121,428
-57,197
FPH 		Five Point Holdings LLC2022-12-31Reduce
-0.37%
●
1.98 ($2.26) 2.71
$4.02
77.88%
Reduce -13.51%
4,679,003
-730,748
PRA 		ProAssurance Corp2024-03-31Add
+0.35%
●
11.86 ($12.87) 13.99
$16.73
29.99%
Add 38.2%
613,103
169,484
SBSI 		Southside Bancshares Inc2022-12-31Add
+0.33%
●
32.2 ($35.47) 38.15
$35.21
-0.73%
Add 33.3%
209,426
52,317
WY 		Weyerhaeuser Co2023-12-31Reduce
-0.33%
●
28.55 ($31.12) 35.1
$32.35
3.95%
Reduce -14.96%
370,142
-65,102
HCC 		Warrior Met Coal Inc2024-09-30Add
+0.32%
●
51.68 ($62.15) 73.37
$70.30
13.11%
Add 4.06%
795,414
31,012
SUPN 		Supernus Pharmaceuticals Inc2023-06-30Add
+0.32%
●
29.91 ($35.01) 38.73
$36.99
5.66%
Add 2626.1%
67,062
64,602
CALM 		Cal-Maine Foods Inc2022-12-31Sold Out
-0.31%
●
52.97 ($57.83) 64.63
$97.15
67.99%
Sold Out
0
-28,403
SUI 		Sun Communities Inc2023-12-31Add
+0.31%
●
102.97 ($120.45) 136.22
$128.56
6.73%
Add 38.62%
50,634
14,107
MYRG 		MYR Group Inc2023-12-31Reduce
-0.30%
●
111.85 ($128.84) 151.08
$157.77
22.45%
Reduce -16.15%
67,757
-13,049
ICFI 		ICF International Inc2024-03-31Reduce
-0.30%
●
128.95 ($144.79) 157.01
$136.74
-5.56%
Reduce -23.38%
44,269
-13,510
HA Hawaiian Holdings Inc2024-03-31Reduce
-0.30%
●
13.27 ($13.91) 14.72
$18.00
29.40%
Reduce -15.89%
686,011
-129,568
AMH 		American Homes 4 Rent2023-03-31Reduce
-0.30%
●
28.91 ($31.9) 35.49
$38.62
21.07%
Reduce -13.88%
355,823
-57,340
EME 		EMCOR Group Inc2022-12-31Reduce
-0.30%
●
118.62 ($141.94) 155.4
$507.95
257.86%
Reduce -28.81%
32,597
-13,191
WY 		Weyerhaeuser Co2023-09-30Reduce
-0.28%
●
30.51 ($32.92) 34.52
$32.35
-1.73%
Reduce -10.3%
435,244
-49,998
WCC 		WESCO International Inc2024-09-30Add
+0.27%
●
149.47 ($162.34) 183.24
$208.33
28.33%
Add 211.21%
14,739
10,003
FIX 		Comfort Systems USA Inc2022-12-31Reduce
-0.26%
●
100.76 ($116.29) 126.92
$486.65
318.48%
Reduce -31.83%
28,902
-13,498
RYN 		Rayonier Inc2022-12-31Reduce
-0.25%
●
30.82 ($33.87) 36.17
$31.82
-6.05%
Reduce -8.51%
457,950
-42,570
SUI 		Sun Communities Inc2023-06-30New Buy
+0.25%
●
125.13 ($133.87) 141.8
$128.56
-3.97%
New holding
11,517
11,517
ITIC 		Investors Title Co2023-12-31Add
+0.25%
●
130.88 ($148.59) 164.87
$285.26
91.98%
Add 32.32%
39,164
9,565
VAL 		Valaris Ltd2022-12-31Reduce
-0.23%
●
53.7 ($62.39) 69.1
$45.57
-26.96%
Reduce -7.3%
299,935
-23,616
SUPN 		Supernus Pharmaceuticals Inc2023-09-30Add
+0.23%
●
27.57 ($30.44) 32.91
$36.99
21.52%
Add 73.79%
116,549
49,487
PLD 		Prologis Inc2024-06-30Add
+0.23%
●
101.88 ($110.77) 127.92
$117.80
6.35%
Add 10.31%
128,889
12,043
100/Page
Total 286
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