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TAM

Third Avenue Management Portfolio holdings

AUM $616M
1-Year Est. Return 45.6%
This Fund
S&P 500
This Quarter Est. Return
+5.02%
1 Year Est. Return
+45.6%
3 Year Est. Return
+111.18%
5 Year Est. Return
+162.64%
10 Year Est. Return
+374.2%
AUM
$485M
AUM Growth
-$13.8M
Cap. Flow
-$32.2M
Cap. Flow %
-6.65%
Top 10 Hldgs %
49.24%
Holding
64
New
3
Increased
13
Reduced
19
Closed
12

Top Buys

Rank Stock Value
1
SKY icon
Champion Homes
SKY
+$4.66M
2
PHM icon
Pultegroup
PHM
+$3.34M
3
CTLP
Cantaloupe
CTLP
+$3.2M
4
TDW icon
Tidewater
TDW
+$2.67M
5
OSG
Octave Specialty Group
OSG
+$1.76M

Top Sells

Rank Stock Value
1
DB icon
Deutsche Bank
DB
+$11.3M
2
ORI icon
Old Republic International
ORI
+$8.95M
3
CMA
Comerica
CMA
+$7.35M
4
BAM icon
Brookfield Asset Management
BAM
+$6.4M
5
PRA
ProAssurance
PRA
+$4.14M

Sector Composition

Rank Sector Weight
1 Financials 26.49%
2 Real Estate 24.41%
3 Energy 14.74%
4 Consumer Discretionary 9.88%
5 Industrials 8.83%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
TDW icon
1
Tidewater
TDW
$3.75B
$40.4M 8.33%
875,157
+65,899
+8% +$2.67M
DB icon
2
Deutsche Bank
DB
$66.4B
$30.2M 6.22%
1,021,558
-426,012
-29% -$11.3M
HCC icon
3
Warrior Met Coal
HCC
$4.17B
$29.4M 6.06%
641,684
+28,478
+5% +$1.32M
VAL icon
4
Valaris
VAL
$5.19B
$24.7M 5.09%
585,921
+16,082
+3% +$605K
BN icon
5
Brookfield
BN
$104B
$23.4M 4.82%
567,374
– –
CBRE icon
6
CBRE Group
CBRE
$40.6B
$23.1M 4.76%
164,710
-399
-0.2% -$50.5K
FPH icon
7
Five Point Holdings
FPH
$374M
$22.7M 4.68%
4,125,911
– –
LEN.B icon
8
Lennar Class B
LEN.B
$19.6B
$15.6M 3.21%
148,033
+263
+0.2% +$27.2K
PLD icon
9
Prologis
PLD
$138B
$15.3M 3.15%
145,522
+16,360
+13% +$1.72M
UHAL.B icon
10
U-Haul Holding Co Series N
UHAL.B
$12.1B
$14.1M 2.91%
259,510
+9,645
+4% +$538K
JLL icon
11
Jones Lang LaSalle
JLL
$15.1B
$13.2M 2.73%
51,690
-300
-0.6% -$68.8K
SUI icon
12
Sun Communities
SUI
$14.8B
$12.3M 2.54%
97,210
+6,495
+7% +$805K
UMBF icon
13
UMB Financial
UMBF
$11B
$10.8M 2.23%
102,763
-33
-0% -$3.29K
PHM icon
14
Pultegroup
PHM
$23.5B
$10.2M 2.11%
96,931
+33,131
+52% +$3.34M
CMA
15
DELISTED
Comerica
CMA
$10.2M 2.11%
171,210
-131,694
-43% -$7.35M
DHI icon
16
D.R. Horton
DHI
$41.1B
$10.1M 2.08%
78,189
-556
-0.7% -$68.5K
MYRG icon
17
MYR Group
MYRG
$6.08B
$9.91M 2.04%
54,595
-18,202
-25% -$2.67M
PRA
18
DELISTED
ProAssurance
PRA
$8.78M 1.81%
384,640
-179,348
-32% -$4.14M
BATRA icon
19
Atlanta Braves Holdings Series A
BATRA
$3.62B
$8.09M 1.67%
164,438
– –
ITIC
20
Investors Title Co
ITIC
$542M
$7.55M 1.56%
35,752
-3,167
-8% -$711K
PB icon
21
Prosperity Bancshares
PB
$8.75B
$7.18M 1.48%
102,168
– –
KALU icon
22
Kaiser Aluminum
KALU
$2.56B
$7.15M 1.48%
89,535
+9,707
+12% +$661K
AMH icon
23
American Homes 4 Rent
AMH
$12.1B
$6.89M 1.42%
191,066
-1,494
-0.8% -$55.3K
FNF icon
24
Fidelity National Financial
FNF
$13.7B
$6.65M 1.37%
118,656
– –
ECPG icon
25
Encore Capital Group
ECPG
$1.9B
$6.62M 1.37%
171,022
– –
1
2 3

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Third Avenue Management's Q2 2025 Portfolio in Review

As of Q2 2025, Third Avenue Management held 64 positions worth $485M, down 2.8% from $499M the previous quarter. Its ten largest holdings account for 49% of the portfolio.

Third Avenue Management withdrew a net $32.2M in Q2 2025, closing 12 positions and reducing 19 holdings. Its most notable exit was Brookfield Asset Management, an estimated $6.4M position sold in full.

By sector, the portfolio is most concentrated in Financials at 26% of assets, down from 31% a quarter earlier, followed by Real Estate and Energy.

Against the trend, Third Avenue Management opened a new position in Champion Homes worth $3.75M.

  • Third Avenue Management's largest Q2 2025 buy was Champion Homes: 59,865 shares worth $3.75M.
  • Third Avenue Management added most to Pultegroup in Q2 2025, an estimated $3.34M increase.
  • Third Avenue Management's biggest Q2 2025 reduction was Deutsche Bank, cutting an estimated $11.3M.
  • Third Avenue Management fully exited Brookfield Asset Management in Q2 2025, selling an estimated $6.4M.
  • Third Avenue Management's ten largest holdings make up 49% of its $485M portfolio in Q2 2025.
  • Third Avenue Management opened 3 new positions and closed 12 in Q2 2025.
  • Third Avenue Management's portfolio value fell 2.8% quarter-over-quarter to $485M.

Based on Third Avenue Management's 13F filing for Q2 2025, filed 13 Aug 2025.