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TAM

Third Avenue Management Portfolio holdings

AUM $625M
1-Year Est. Return 48.93%
This Fund
S&P 500
This Quarter Est. Return
+4.76%
1 Year Est. Return
+48.93%
3 Year Est. Return
+112.7%
5 Year Est. Return
+169.82%
10 Year Est. Return
+390.58%
AUM
$550M
AUM Growth
+$17.5M
Cap. Flow
+$6.36M
Cap. Flow %
1.16%
Top 10 Hldgs %
50.76%
Holding
54
New
4
Increased
20
Reduced
13
Closed
3

Top Buys

Rank Stock Value
1
DB icon
Deutsche Bank
DB
+$12.2M
2
BCC icon
Boise Cascade
BCC
+$11.4M
3
FNF icon
Fidelity National Financial
FNF
+$4.93M
4
FSV icon
FirstService
FSV
+$3.04M
5
AMH icon
American Homes 4 Rent
AMH
+$2.8M

Top Sells

Rank Stock Value
1
CMA
Comerica
CMA
+$10.8M
2
JLL icon
Jones Lang LaSalle
JLL
+$5.41M
3
HCC icon
Warrior Met Coal
HCC
+$4.41M
4
SEB icon
Seaboard Corp
SEB
+$3.76M
5
SBSI icon
Southside Bancshares
SBSI
+$2.71M

Sector Composition

Rank Sector Weight
1 Real Estate 21.3%
2 Financials 18.81%
3 Materials 18.1%
4 Energy 14.88%
5 Consumer Discretionary 9.28%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
HCC icon
1
Warrior Met Coal
HCC
$5.65B
$51.4M 9.35%
583,320
-58,596
-9% -$4.41M
TDW icon
2
Tidewater
TDW
$4.61B
$44.1M 8.01%
873,071
-1,596
-0.2% -$84.3K
BCC icon
3
Boise Cascade
BCC
$2.75B
$31.6M 5.75%
429,999
+156,294
+57% +$11.4M
VAL icon
4
Valaris
VAL
$5.99B
$29.5M 5.35%
584,373
-1,229
-0.2% -$66K
BN icon
5
Brookfield
BN
$92.3B
$25.2M 4.57%
548,119
-19,255
-3% -$878K
CBRE icon
6
CBRE Group
CBRE
$43.7B
$23.6M 4.29%
146,835
-7,837
-5% -$1.23M
FPH icon
7
Five Point Holdings
FPH
$367M
$23M 4.18%
4,113,917
– –
PLD icon
8
Prologis
PLD
$134B
$18.6M 3.37%
145,451
+57
+0% +$7.11K
ROG icon
9
Rogers Corp
ROG
$2.24B
$18.3M 3.32%
199,474
+106
+0.1% +$9.1K
LEN.B icon
10
Lennar Class B
LEN.B
$20.5B
$14.1M 2.56%
148,008
+165
+0.1% +$18.7K
DB icon
11
Deutsche Bank
DB
$75.8B
$13M 2.36%
+337,193
New +$12.2M
UHAL.B icon
12
U-Haul Holding Co Series N
UHAL.B
$11.7B
$12.1M 2.2%
259,246
+21
+0% +$1.02K
SUI icon
13
Sun Communities
SUI
$15B
$12M 2.18%
96,922
+136
+0.1% +$17K
PHM icon
14
Pultegroup
PHM
$24.5B
$11.8M 2.15%
100,684
+3,918
+4% +$481K
JLL icon
15
Jones Lang LaSalle
JLL
$17.4B
$11.6M 2.1%
34,351
-17,268
-33% -$5.41M
DHI icon
16
D.R. Horton
DHI
$41.2B
$11.3M 2.05%
78,194
+116
+0.1% +$17.7K
FNF icon
17
Fidelity National Financial
FNF
$12.8B
$11.2M 2.04%
205,320
+86,664
+73% +$4.93M
KALU icon
18
Kaiser Aluminum
KALU
$2.56B
$9.8M 1.78%
85,363
-4,172
-5% -$397K
SUPN icon
19
Supernus Pharmaceuticals
SUPN
$2.54B
$9.42M 1.71%
189,493
– –
COLL icon
20
Collegium Pharmaceutical
COLL
$786M
$9.42M 1.71%
203,401
– –
ECPG icon
21
Encore Capital Group
ECPG
$2.1B
$9.3M 1.69%
171,022
– –
UMBF icon
22
UMB Financial
UMBF
$11B
$9M 1.64%
78,245
-19,273
-20% -$2.18M
SKY icon
23
Champion Homes
SKY
$4.9B
$8.99M 1.63%
106,409
– –
AMH icon
24
American Homes 4 Rent
AMH
$12.1B
$8.94M 1.62%
278,512
+87,446
+46% +$2.8M
MYRG icon
25
MYR Group
MYRG
$4.58B
$7.77M 1.41%
35,554
– –
1
2 3

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Third Avenue Management's Q4 2025 Portfolio in Review

As of Q4 2025, Third Avenue Management held 54 positions worth $550M, up 3.3% from $533M the previous quarter. Its ten largest holdings account for 51% of the portfolio.

Third Avenue Management's Q4 2025 filing shows 4 new, 20 increased, 13 reduced and 3 closed positions. Its largest new stake was Deutsche Bank: 337,193 shares worth $13M. The largest sale was Comerica, an estimated $10.8M.

By sector, the portfolio is most concentrated in Real Estate at 21% of assets, down from 23% a quarter earlier, followed by Financials and Materials.

  • Third Avenue Management's largest Q4 2025 buy was Deutsche Bank: 337,193 shares worth $13M.
  • Third Avenue Management added most to Boise Cascade in Q4 2025, an estimated $11.4M increase.
  • Third Avenue Management's biggest Q4 2025 reduction was Jones Lang LaSalle, cutting an estimated $5.41M.
  • Third Avenue Management fully exited Comerica in Q4 2025, selling an estimated $10.8M.
  • Third Avenue Management's ten largest holdings make up 51% of its $550M portfolio in Q4 2025.
  • Third Avenue Management opened 4 new positions and closed 3 in Q4 2025.
  • Third Avenue Management's portfolio value rose 3.3% quarter-over-quarter to $550M.

Based on Third Avenue Management's 13F filing for Q4 2025, filed 12 Feb 2026.