Q4 2025 · 13F-HR
THIRD AVENUE MANAGEMENT LLCholdings as filed
Filed 2026-02-12 · accession 0001099281-26-000003
$550.2M
Reported value
51
Positions
2025-12-31
Period end
The Brief · THIRD AVENUE MANAGEMENT LLC · Q4 2025
AI · grounded in 13F
Third Avenue Management LLC established a new position in Deutsche Bank AG DB worth $13.0M. The fund closed its positions in Comerica Inc. CMA, reducing exposure by $10.8M, and Seaboard Corp. SEB, reducing exposure by $3.8M. Additionally, the fund increased its holdings in FNF Group FNF and Boise Cascade Company BCC by 73.0% and 57.1% respectively.
Holdings as filed
| CUSIP | Ticker | Issuer | Value | % port. | Shares | Class | Voting |
|---|---|---|---|---|---|---|---|
| 93627C101 | HCC | Warrior Met Coal Inc. | $51.4M | 9.35% | 583,320 | Common | SOLE |
| 88642R109 | TDW | Tidewater Inc. | $44.1M | 8.01% | 873,071 | Common | SOLE |
| 09739D100 | BCC | Boise Cascade Company | $31.6M | 5.75% | 429,999 | Common | SOLE |
| G9460G101 | VAL | Valaris Ltd. | $29.5M | 5.35% | 584,373 | Common | SOLE |
| 11271J107 | BN | Brookfield Corp. | $25.2M | 4.57% | 548,119 | Common | SOLE |
| 12504L109 | CBRE | CBRE Group, Inc. | $23.6M | 4.29% | 146,835 | Common | SOLE |
| 33833Q106 | FPH | Five Point Holdings LLC - CL A | $23.0M | 4.18% | 4,113,917 | Common | SOLE |
| 74340W103 | PLD | Prologis Inc. | $18.6M | 3.37% | 145,451 | Common | SOLE |
| 775133101 | ROG | Rogers Corp. | $18.3M | 3.32% | 199,474 | Common | SOLE |
| 526057302 | LEN/B | Lennar Corp - Class B | $14.1M | 2.56% | 148,008 | Common | SOLE |
| D18190898 | DB | Deutsche Bank AG | $13.0M | 2.36% | 337,193 | Common | SOLE |
| 023586506 | UHAL/B | U-Haul Holding Company | $12.1M | 2.20% | 259,246 | Common | SOLE |
| 866674104 | SUI | Sun Communities Inc. | $12.0M | 2.18% | 96,922 | Common | SOLE |
| 745867101 | PHM | PulteGroup Inc. | $11.8M | 2.15% | 100,684 | Common | SOLE |
| 48020Q107 | JLL | Jones Lang Lasalle | $11.6M | 2.10% | 34,351 | Common | SOLE |
| 23331A109 | DHI | DR Horton Inc. | $11.3M | 2.05% | 78,194 | Common | SOLE |
| 31620R303 | FNF | FNF Group | $11.2M | 2.04% | 205,320 | Common | SOLE |
| 483007704 | KALU | Kaiser Aluminum Corp. | $9.8M | 1.78% | 85,363 | Common | SOLE |
| 868459108 | SUPN | Supernus Pharmaceuticals, Inc. | $9.4M | 1.71% | 189,493 | Common | SOLE |
| 19459J104 | COLL | Collegium Pharmaceutical Inc. | $9.4M | 1.71% | 203,401 | Common | SOLE |
| 292554102 | ECPG | Encore Capital Group Inc. | $9.3M | 1.69% | 171,022 | Common | SOLE |
| 902788108 | UMBF | UMB Financial Corporation | $9.0M | 1.64% | 78,245 | Common | SOLE |
| 830830105 | SKY | Champion Homes, Inc. | $9.0M | 1.63% | 106,409 | Common | SOLE |
| 02665T306 | AMH | American Homes 4 Rent | $8.9M | 1.62% | 278,512 | Common | SOLE |
| 55405W104 | MYRG | MYR Group Inc. | $7.8M | 1.41% | 35,554 | Common | SOLE |
| 74267C106 | PRA | Proassurance Corp. | $7.1M | 1.29% | 292,990 | Common | SOLE |
| 743606105 | PB | Prosperity Bancshares Inc. | $7.1M | 1.28% | 102,168 | Common | SOLE |
| 047726104 | BATRA | Atlanta Braves Holdings Inc - A | $7.0M | 1.27% | 164,438 | Common | SOLE |
| 502160104 | LXU | LSB Industries Inc. | $6.7M | 1.22% | 789,447 | Common | SOLE |
| 023139884 | OSG | Octave Specialty Group | $6.1M | 1.11% | 782,093 | Common | SOLE |
| 32054K103 | FR | First Industrial Realty Trust, Inc. | $6.0M | 1.09% | 104,728 | Common | SOLE |
| 904708104 | UNF | UniFirst Corporation | $5.5M | 1.00% | 28,434 | Common | SOLE |
| 461804106 | ITIC | Investors Title Co. | $5.5M | 0.99% | 21,894 | Common | SOLE |
| 155123102 | CET | Central Securities Corporation | $5.2M | 0.94% | 101,812 | Common | SOLE |
| 95082P105 | WCC | Wesco International | $5.0M | 0.90% | 20,295 | Common | SOLE |
| 87265H109 | T86 | Tri Pointe Group Inc. | $4.9M | 0.89% | 155,855 | Common | SOLE |
| 80007P869 | SD | Sandridge Energy Inc. | $4.8M | 0.87% | 330,818 | Common | SOLE |
| 44925C103 | ICFI | ICF International, Inc. | $4.5M | 0.82% | 52,864 | Common | SOLE |
| 754907103 | RYN | Rayonier Inc. | $4.1M | 0.74% | 188,340 | Common | SOLE |
| 962166104 | WY | Weyerhaeuser Company | $4.1M | 0.74% | 171,582 | Common | SOLE |
| 011311107 | ALG | Alamo Group, Inc. | $4.0M | 0.73% | 24,009 | Common | SOLE |
| 09624H208 | BXC | Bluelinx Holdings Inc. | $4.0M | 0.72% | 64,339 | Common | SOLE |
| 138103106 | UTE0 | Cantaloupe, Inc. | $3.9M | 0.71% | 370,013 | Common | SOLE |
| 69318G106 | PBF | PBF Energy Inc. | $3.6M | 0.65% | 131,050 | Common | SOLE |
| 84470P109 | SBSI | Southside Bancshares Inc. | $3.6M | 0.65% | 116,879 | Common | SOLE |
| 675234108 | OCFC | OceanFirst Financial Trust | $3.5M | 0.63% | 192,807 | Common | SOLE |
| 33767E202 | FSV | FirstService Corp. | $2.9M | 0.53% | 18,714 | Common | SOLE |
| 649445400 | FLG | Flagstar Bank | $2.7M | 0.50% | 217,305 | Common | SOLE |
| 30292L107 | FRPH | FRP Holdings Inc. | $2.4M | 0.44% | 107,429 | Common | SOLE |
| 047726302 | BATRK | Atlanta Braves Holdings Inc - C | $1.0M | 0.19% | 26,104 | Common | SOLE |
| 30190A104 | FG | F&G Annuities and Life | $380,047 | 0.07% | 12,319 | Common | SOLE |
Source: SEC EDGAR · raw 13F holdings as filed. The Class column shows the option type when reported (Put/Call) or Common when the issuer's equity is held directly. 13F discloses long positions only.