Third Avenue ManagementSuperinvestor
About Third Avenue Management’s 13F portfolio
Third Avenue Management is an institutional investment manager that discloses its US-listed holdings each quarter through an SEC Form 13F filing. As of , Third Avenue Management reported $616.0M across 53 US-listed positions (). Its largest position is Tidewater Inc. (TDW) at 12% of the reported book, and its ten biggest holdings make up 53% of the portfolio. Browse every manager in the fund managers directory, or see the legendary investors we track on the superinvestors page.
| # | Stock | Price | % of portfolio | Shares | Value |
|---|---|---|---|---|---|
| 1 |  TDW Tidewater Inc. | $78.54 0.00% | 12% | 921K | $77.0M |
| 2 |  VAL Valaris Ltd. | $78.47 −1.33% | 8.1% | 508K | $49.8M |
| 3 |  BCC Boise Cascade Company | $78.22 +0.49% | 6.9% | 562K | $42.6M |
| 4 |  HCC Warrior Met Coal Inc. | $80.66 +0.74% | 5.5% | 364K | $33.9M |
| 5 |  HOG Harley-Davidson Inc | $24.79 −2.75% | 4.8% | 1.5M | $29.6M |
| 6 |  RHI Robert Half, Inc. | $39.74 +12.61% | 3.7% | 904K | $23.0M |
| 7 |  BN Brookfield Corp. | $42.08 +0.98% | 3.2% | 481K | $19.5M |
| 8 |  FPH Five Point Holdings LLC - CL A | $5.32 +1.72% | 3.0% | 3.9M | $18.7M |
| 9 |  CBRE CBRE Group, Inc. | $143.88 +3.17% | 3.0% | 136K | $18.5M |
| 10 |  PLD Prologis Inc. | $147.26 −0.25% | 2.7% | 126K | $16.6M |
| 11 |  ROG Rogers Corp. | $129.32 −1.05% | 2.6% | 151K | $16.2M |
| 12 |  UHAL.B U-Haul Holding Company | — — | 2.1% | 284K | $12.7M |
| 13 |  LEN-B Lennar Corp - Class B | $83.30 +0.46% | 2.0% | 143K | $12.0M |
| 14 |  SUI Sun Communities Inc. | $121.44 −0.32% | 1.9% | 91K | $11.5M |
| 15 |  PHM PulteGroup Inc. | $130.59 +1.43% | 1.8% | 95K | $11.2M |
| 16 |  DHI DR Horton Inc. | $147.65 +0.61% | 1.6% | 74K | $10.1M |
| 17 |  ECPG Encore Capital Group Inc. | $94.45 +4.76% | 1.6% | 143K | $10.0M |
| 18 |  JLL Jones Lang Lasalle | $333.15 +2.37% | 1.6% | 32K | $9.9M |
| 19 |  FNF FNF Group | $52.02 +0.77% | 1.5% | 193K | $9.0M |
| 20 |  UMBF UMB Financial Corporation | $140.97 −0.16% | 1.4% | 78K | $8.8M |
| 21 |  MYRG MYR Group Inc. | $369.00 −2.68% | 1.3% | 29K | $8.1M |
| 22 |  SUPN Supernus Pharmaceuticals, Inc. | $46.98 +1.69% | 1.3% | 153K | $7.9M |
| 23 |  BATRA Atlanta Braves Holdings Inc - A | $55.05 +0.02% | 1.3% | 164K | $7.8M |
| 24 |  SKY Champion Homes, Inc. | $82.27 +0.78% | 1.2% | 101K | $7.5M |
| 25 |  AMH American Homes 4 Rent | $33.45 +0.24% | 1.2% | 263K | $7.3M |
Showing 1–25 of 53 positions on this page reported in this 13F.
Tiles are sized by portfolio weight and coloured by sector; the “est.” figure on each tile is the estimated dividend- and split-adjusted return since the first reported quarter — not the manager’s profit or cost basis.
“Est. return” = estimated dividend/split-adjusted return since the first reported quarter — not the manager’s profit or cost basis.
- Energy22%
- Real Estate17%
- Basic Materials14%
- Financial Services14%
- Consumer Cyclical13%
- Industrials9.3%
- Healthcare4.0%
- Technology3.2%
- Unclassified2.9%
- Communication Services1.4%
How this return is calculated
Estimated dividend- and split-adjusted return from the end of the first consecutive reported quarter in which the current holding appears in Bullish Whales’ 13F history, through the manager’s latest reported quarter. Current disclosed holdings only. Start dates differ by holding, changes in position size are not modeled, and positions no longer reported are excluded. Not the manager’s cost basis, purchase date, realized profit or loss, live performance, or portfolio performance.
- AddedTDWTidewater Inc.+5.5%$77.0M
- AddedBCCBoise Cascade Company+30.7%$42.6M
- NewHOGHarley-Davidson Inc—$29.6M
- NewRHIRobert Half, Inc.—$23.0M
- AddedUHAL.BU-Haul Holding Company+9.7%$12.7M
- AddedFSVFirstService Corp.+170%$7.0M
- NewBKDBrookdale Senior Living Inc.—$6.3M
- AddedOSGOctave Specialty Group+71.5%$6.2M
- AddedALGAlamo Group, Inc.+43.0%$5.7M
- NewCPRXCatalyst Pharmaceuticals—$5.2M
- ReducedVALValaris Ltd.−13.0%$49.8M
- ReducedHCCWarrior Met Coal Inc.−37.6%$33.9M
- ReducedBNBrookfield Corp.−12.2%$19.5M
- ReducedFPHFive Point Holdings LLC - CL A−6.1%$18.7M
- ReducedCBRECBRE Group, Inc.−7.2%$18.5M
- ReducedPLDPrologis Inc.−13.4%$16.6M
- ReducedROGRogers Corp.−24.3%$16.2M
- ReducedLEN-BLennar Corp - Class B−3.5%$12.0M
- ReducedSUISun Communities Inc.−5.6%$11.5M
- ReducedPHMPulteGroup Inc.−5.5%$11.2M
Reading Third Avenue Management’s 13F portfolio
Third Avenue Management’s $616.0M 13F book is spread across 53 reported positions and is concentrated toward its biggest ideas, with the top ten holdings at 53%. The largest positions carry real weight, so how those names perform matters a lot to the overall book. Its five largest positions are TDW, VAL, BCC, HCC and HOG, led by Tidewater Inc. (TDW) at 12% of the portfolio. The heaviest sector exposure is Energy (22%), then Real Estate (17%).
What Third Avenue Management changed last quarter
Between 2025-12-31 and Q1 2026, Third Avenue Management was a net seller: it opened 6 new positions and added to 10 more, while trimming 26 and closing 4 outright. Against a 53-name book, that is high turnover, pointing to an active reshuffle of the book. Its largest new or increased position was Tidewater Inc. (TDW), and its biggest reduction was Valaris Ltd. (VAL).
What a 13F does and doesn’t reveal
A 13F captures only Third Avenue Management’s long positions in US-listed stocks at a single quarter-end, so it is best read as a lagged snapshot rather than a live portfolio. It won’t show shorts, cash, bonds, or holdings listed outside the US, and it never reveals the price paid or the reasoning behind a trade. The signal is in the pattern over time: which names Third Avenue Management is building up, trimming, or exiting, and how concentrated the book stays from quarter to quarter.
Frequently asked questions
What is an SEC 13F filing?
A Form 13F is a report that every institutional investment manager with at least $100 million in US-listed securities must file with the SEC within 45 days of each quarter's end. It lists the manager's long positions in US-listed stocks and certain options, with the share count and market value of each. Third Avenue Management's profile on this page is built directly from those filings.
How current is the 13F data on Third Avenue Management's page?
It reflects Third Avenue Management's most recently filed 13F, currently the quarter ending Q1 2026. Because managers have up to 45 days after a quarter closes to file, a 13F is always a slightly lagged view rather than a live portfolio. When Third Avenue Management files its next quarterly report, this page refreshes automatically.
Can I see Third Avenue Management's complete list of holdings?
This page highlights Third Avenue Management's largest positions rather than all 53 names in the filing. The complete, position-by-position 13F is public and available from the SEC's EDGAR database under Third Avenue Management's filings.
Does a 13F show everything Third Avenue Management owns?
No. A 13F only covers long positions in US-listed stocks and certain options. It leaves out short positions, cash, bonds, commodities, foreign-listed stocks, and private holdings, so it is a partial view of Third Avenue Management's book rather than its full strategy or total assets.
Is 13F data investment advice?
No. Everything here is educational. 13F positions are disclosed with a delay, cover only long US-listed holdings, and never explain why Third Avenue Management made a trade or at what price. Treat it as a research lens, not a recommendation, and speak with a licensed financial advisor before making investment decisions.
Not investment advice. Holdings data comes from public SEC Form 13F filings, which are filed with a delay of up to 45 days and may be amended later. It describes historical, disclosed positions in US-listed securities only, meaning no shorts, cash, or foreign holdings, and it is not a recommendation. Always do your own research and speak with a licensed financial advisor before making investment decisions.