Martin Whitman, Third Avenue Management
Portfolio USD 625,338,000 across 55 positions as of 2026 Q2; history from 2018 Q1. Source: quarterly 13F filings via dataroma.com.
Positions, 2026 Q2
- TDW Tidewater Inc.: 10% of portfolio, USD 62,240,000, add +1.4%
- BCC Boise Cascade Company: 7.5% of portfolio, USD 46,740,000, add +7.13%
- VAL Valaris plc: 6.0% of portfolio, USD 37,484,000, add +1.6%
- RHI Robert Half International: 5.9% of portfolio, USD 37,096,000, add +33.68%
- HOG Harley-Davidson: 5.8% of portfolio, USD 36,222,000, add +1.24%
- HCC Warrior Met Coal Inc.: 3.7% of portfolio, USD 23,163,000, reduce -21.59%
- FPH Five Point Holdings LLC: 3.1% of portfolio, USD 19,479,000, reduce -4.27%
- CBRE CBRE Group: 2.9% of portfolio, USD 18,304,000, reduce -0.32%
- BN Brookfield Corp.: 2.7% of portfolio, USD 16,820,000, reduce -17.98%
- UHAL.B U Haul Holding Co Non Voting: 2.6% of portfolio, USD 16,379,000, reduce -0.18%
- PLD Prologis Inc.: 2.3% of portfolio, USD 14,200,000, reduce -16.77%
- LEN.B Lennar Corp. CL B: 2.1% of portfolio, USD 13,276,000, add +4.77%
- PHM PulteGroup Inc.: 2.1% of portfolio, USD 13,050,000, reduce -0.02%
- ECPG Encore Capital Group Inc.: 1.9% of portfolio, USD 12,101,000, reduce -8.98%
- DHI D.R. Horton: 1.8% of portfolio, USD 11,272,000, reduce -6.27%
- UMBF UMB Financial Corp.: 1.8% of portfolio, USD 11,170,000, hold
- SUI Sun Communities Inc.: 1.8% of portfolio, USD 10,966,000, reduce 0%
- ROG Rogers Corp.: 1.6% of portfolio, USD 10,083,000, reduce -59.22%
- JLL Jones Lang Lasalle Inc.: 1.6% of portfolio, USD 9,935,000, reduce -1.09%
- FNF Fidelity National Financial Inc.: 1.5% of portfolio, USD 9,107,000, reduce -0.17%
- SKY Skyline Champion Corp.: 1.4% of portfolio, USD 8,863,000, reduce -0.18%
- FSV Firstservice Corp: 1.4% of portfolio, USD 8,804,000, add +22.79%
- AMH American Homes 4 Rent: 1.4% of portfolio, USD 8,784,000, reduce -0.18%
- OSG Octave Specialty Group Inc.: 1.3% of portfolio, USD 8,373,000, add +0.05%
- BKD Brookdale Senior Living Inc.: 1.3% of portfolio, USD 7,962,000, add +6.72%
- PB Prosperity Bancshares Inc.: 1.2% of portfolio, USD 7,461,000, hold
- ICFI ICF International Inc.: 1.2% of portfolio, USD 7,205,000, add +37.86%
- SUPN Supernus Pharmaceuticals: 1.1% of portfolio, USD 7,103,000, hold
- ALG Alamo Group Inc.: 1.1% of portfolio, USD 6,952,000, add +23.11%
- COLL Collegium Pharmaceutical Inc.: 1.1% of portfolio, USD 6,612,000, add +17.73%
- CPRX-OLD Catalyst Pharmaceuticals Inc.: 1.1% of portfolio, USD 6,605,000, hold
- MYRG MYR Group Inc.: 1.1% of portfolio, USD 6,538,000, reduce -54.66%
- BATRA Atlanta Braves Holdings Inc. Series A: 1.0% of portfolio, USD 6,300,000, reduce -31.96%
- TMHC-OLD Taylor Morrison Home Corp.: 1.0% of portfolio, USD 6,165,000, new
- ITIC Investors Title Co.: 1.0% of portfolio, USD 5,992,000, hold
- PBF PBF Energy Inc.: 1.0% of portfolio, USD 5,965,000, hold
- WCC WESCO International Inc.: 0.9% of portfolio, USD 5,860,000, reduce -11.85%
- KALU Kaiser Aluminum Corp.: 0.9% of portfolio, USD 5,839,000, reduce -0.11%
- UNF UniFirst Corp.: 0.9% of portfolio, USD 5,501,000, reduce -26.84%
- QLYS Qualys Inc.: 0.9% of portfolio, USD 5,379,000, hold
- CET Central Securities Corp.: 0.9% of portfolio, USD 5,340,000, hold
- FLG Flagstar Financial Inc.: 0.8% of portfolio, USD 4,949,000, hold
- SD SandRidge Energy Inc.: 0.8% of portfolio, USD 4,830,000, add +6.57%
- OCFC OceanFirst Financial Corp.: 0.8% of portfolio, USD 4,817,000, hold
- FR First Industrial Realty Trust Inc.: 0.8% of portfolio, USD 4,751,000, reduce -4.34%
- LXU LSB Industries Inc.: 0.7% of portfolio, USD 4,120,000, hold
- SBSI Southside Bancshares Inc.: 0.7% of portfolio, USD 4,113,000, hold
- BXC BlueLinx Holdings Inc.: 0.6% of portfolio, USD 3,983,000, hold
- MMS MAXIMUS Inc.: 0.6% of portfolio, USD 3,983,000, new
- HKHGF Hongkong Land Holdings Ltd: 0.6% of portfolio, USD 3,918,000, new
- WY Weyerhaeuser Co.: 0.6% of portfolio, USD 3,881,000, reduce -0.17%
- CRAI CRA International Inc.: 0.5% of portfolio, USD 2,963,000, new
- FRPH FRP Holdings Inc.: 0.4% of portfolio, USD 2,678,000, hold
- COMP Compass Inc.: 0.4% of portfolio, USD 2,311,000, hold
- BATRK Atlanta Braves Holdings Inc. Series C: 0.2% of portfolio, USD 1,351,000, reduce -0.29%
Portfolio value, all published quarters
- 2018 Q1: USD 1,965,770,583
- 2018 Q2: USD 2,018,454,991
- 2018 Q3: USD 1,770,199,551
- 2018 Q4: USD 1,234,497,794
- 2019 Q1: USD 1,292,000,842
- 2019 Q2: USD 1,191,306,959
- 2019 Q3: USD 1,107,835,963
- 2019 Q4: USD 1,009,776,739
- 2020 Q1: USD 676,188,962
- 2020 Q2: USD 713,830,081
- 2020 Q3: USD 719,533,761
- 2020 Q4: USD 712,652,412
- 2021 Q1: USD 756,221,975
- 2021 Q2: USD 755,480,457
- 2021 Q3: USD 743,113,550
- 2021 Q4: USD 760,079,838
- 2022 Q1: USD 733,752,475
- 2022 Q2: USD 561,449,884
- 2022 Q3: USD 508,188,248
- 2022 Q4: USD 574,700,282
- 2023 Q1: USD 585,173,768
- 2023 Q2: USD 606,101,517
- 2023 Q3: USD 596,368,557
- 2023 Q4: USD 609,212,950
- 2024 Q1: USD 626,753,906
- 2024 Q2: USD 582,740,119
- 2024 Q3: USD 611,825,159
- 2024 Q4: USD 516,831,463
- 2025 Q1: USD 498,713,287
- 2025 Q2: USD 484,829,052
- 2025 Q3: USD 532,729,767
- 2025 Q4: USD 550,269,634
- 2026 Q1: USD 616,283,650
- 2026 Q2: USD 625,338,000