# Martin Whitman — Third Avenue Management Portfolio USD 625,338,000 · 55 positions · 2026 Q2 · history from 2018 Q1. Source: quarterly 13F filings via dataroma.com. Page: https://gigainvestors.com/TA ## Positions (2026 Q2) | Ticker | Company | % of portfolio | Value | This quarter | Holders | |---|---|---:|---:|---|---:| | TDW | Tidewater Inc. | 10% | USD 62,240,000 | +1.4% | | | BCC | Boise Cascade Company | 7.5% | USD 46,740,000 | +7.13% | | | VAL | Valaris plc | 6.0% | USD 37,484,000 | +1.6% | | | RHI | Robert Half International | 5.9% | USD 37,096,000 | +33.68% | | | HOG | Harley-Davidson | 5.8% | USD 36,222,000 | +1.24% | | | HCC | Warrior Met Coal Inc. | 3.7% | USD 23,163,000 | -21.59% | | | FPH | Five Point Holdings LLC | 3.1% | USD 19,479,000 | -4.27% | | | CBRE | CBRE Group | 2.9% | USD 18,304,000 | -0.32% | | | BN | Brookfield Corp. | 2.7% | USD 16,820,000 | -17.98% | | | UHAL.B | U Haul Holding Co Non Voting | 2.6% | USD 16,379,000 | -0.18% | | | PLD | Prologis Inc. | 2.3% | USD 14,200,000 | -16.77% | | | LEN.B | Lennar Corp. CL B | 2.1% | USD 13,276,000 | +4.77% | | | PHM | PulteGroup Inc. | 2.1% | USD 13,050,000 | -0.02% | | | ECPG | Encore Capital Group Inc. | 1.9% | USD 12,101,000 | -8.98% | | | DHI | D.R. Horton | 1.8% | USD 11,272,000 | -6.27% | | | UMBF | UMB Financial Corp. | 1.8% | USD 11,170,000 | hold | | | SUI | Sun Communities Inc. | 1.8% | USD 10,966,000 | 0% | | | ROG | Rogers Corp. | 1.6% | USD 10,083,000 | -59.22% | | | JLL | Jones Lang Lasalle Inc. | 1.6% | USD 9,935,000 | -1.09% | | | FNF | Fidelity National Financial Inc. | 1.5% | USD 9,107,000 | -0.17% | | | SKY | Skyline Champion Corp. | 1.4% | USD 8,863,000 | -0.18% | | | FSV | Firstservice Corp | 1.4% | USD 8,804,000 | +22.79% | | | AMH | American Homes 4 Rent | 1.4% | USD 8,784,000 | -0.18% | | | OSG | Octave Specialty Group Inc. | 1.3% | USD 8,373,000 | +0.05% | | | BKD | Brookdale Senior Living Inc. | 1.3% | USD 7,962,000 | +6.72% | | | PB | Prosperity Bancshares Inc. | 1.2% | USD 7,461,000 | hold | | | ICFI | ICF International Inc. | 1.2% | USD 7,205,000 | +37.86% | | | SUPN | Supernus Pharmaceuticals | 1.1% | USD 7,103,000 | hold | | | ALG | Alamo Group Inc. | 1.1% | USD 6,952,000 | +23.11% | | | COLL | Collegium Pharmaceutical Inc. | 1.1% | USD 6,612,000 | +17.73% | | | CPRX-OLD | Catalyst Pharmaceuticals Inc. | 1.1% | USD 6,605,000 | hold | | | MYRG | MYR Group Inc. | 1.1% | USD 6,538,000 | -54.66% | | | BATRA | Atlanta Braves Holdings Inc. Series A | 1.0% | USD 6,300,000 | -31.96% | | | TMHC-OLD | Taylor Morrison Home Corp. | 1.0% | USD 6,165,000 | new | | | ITIC | Investors Title Co. | 1.0% | USD 5,992,000 | hold | | | PBF | PBF Energy Inc. | 1.0% | USD 5,965,000 | hold | | | WCC | WESCO International Inc. | 0.9% | USD 5,860,000 | -11.85% | | | KALU | Kaiser Aluminum Corp. | 0.9% | USD 5,839,000 | -0.11% | | | UNF | UniFirst Corp. | 0.9% | USD 5,501,000 | -26.84% | | | QLYS | Qualys Inc. | 0.9% | USD 5,379,000 | hold | | | CET | Central Securities Corp. | 0.9% | USD 5,340,000 | hold | | | FLG | Flagstar Financial Inc. | 0.8% | USD 4,949,000 | hold | | | SD | SandRidge Energy Inc. | 0.8% | USD 4,830,000 | +6.57% | | | OCFC | OceanFirst Financial Corp. | 0.8% | USD 4,817,000 | hold | | | FR | First Industrial Realty Trust Inc. | 0.8% | USD 4,751,000 | -4.34% | | | LXU | LSB Industries Inc. | 0.7% | USD 4,120,000 | hold | | | SBSI | Southside Bancshares Inc. | 0.7% | USD 4,113,000 | hold | | | BXC | BlueLinx Holdings Inc. | 0.6% | USD 3,983,000 | hold | | | MMS | MAXIMUS Inc. | 0.6% | USD 3,983,000 | new | | | HKHGF | Hongkong Land Holdings Ltd | 0.6% | USD 3,918,000 | new | | | WY | Weyerhaeuser Co. | 0.6% | USD 3,881,000 | -0.17% | | | CRAI | CRA International Inc. | 0.5% | USD 2,963,000 | new | | | FRPH | FRP Holdings Inc. | 0.4% | USD 2,678,000 | hold | | | COMP | Compass Inc. | 0.4% | USD 2,311,000 | hold | | | BATRK | Atlanta Braves Holdings Inc. Series C | 0.2% | USD 1,351,000 | -0.29% | | ## Moves this quarter (42) - TDW Tidewater Inc.: +1.4% (USD 62,240,000) - BCC Boise Cascade Company: +7.13% (USD 46,740,000) - VAL Valaris plc: +1.6% (USD 37,484,000) - RHI Robert Half International: +33.68% (USD 37,096,000) - HOG Harley-Davidson: +1.24% (USD 36,222,000) - HCC Warrior Met Coal Inc.: -21.59% (USD 23,163,000) - FPH Five Point Holdings LLC: -4.27% (USD 19,479,000) - CBRE CBRE Group: -0.32% (USD 18,304,000) - BN Brookfield Corp.: -17.98% (USD 16,820,000) - UHAL.B U Haul Holding Co Non Voting: -0.18% (USD 16,379,000) - PLD Prologis Inc.: -16.77% (USD 14,200,000) - LEN.B Lennar Corp. CL B: +4.77% (USD 13,276,000) - PHM PulteGroup Inc.: -0.02% (USD 13,050,000) - ECPG Encore Capital Group Inc.: -8.98% (USD 12,101,000) - DHI D.R. Horton: -6.27% (USD 11,272,000) - SUI Sun Communities Inc.: 0% (USD 10,966,000) - ROG Rogers Corp.: -59.22% (USD 10,083,000) - JLL Jones Lang Lasalle Inc.: -1.09% (USD 9,935,000) - FNF Fidelity National Financial Inc.: -0.17% (USD 9,107,000) - SKY Skyline Champion Corp.: -0.18% (USD 8,863,000) - FSV Firstservice Corp: +22.79% (USD 8,804,000) - AMH American Homes 4 Rent: -0.18% (USD 8,784,000) - OSG Octave Specialty Group Inc.: +0.05% (USD 8,373,000) - BKD Brookdale Senior Living Inc.: +6.72% (USD 7,962,000) - TPH-OLD TRI Pointe Group: sold (USD 7,283,104) - ICFI ICF International Inc.: +37.86% (USD 7,205,000) - ALG Alamo Group Inc.: +23.11% (USD 6,952,000) - COLL Collegium Pharmaceutical Inc.: +17.73% (USD 6,612,000) - MYRG MYR Group Inc.: -54.66% (USD 6,538,000) - PRA-OLD ProAssurance Corp.: sold (USD 6,442,230) - BATRA Atlanta Braves Holdings Inc. Series A: -31.96% (USD 6,300,000) - TMHC-OLD Taylor Morrison Home Corp.: new (USD 6,165,000) - WCC WESCO International Inc.: -11.85% (USD 5,860,000) - KALU Kaiser Aluminum Corp.: -0.11% (USD 5,839,000) - UNF UniFirst Corp.: -26.84% (USD 5,501,000) - SD SandRidge Energy Inc.: +6.57% (USD 4,830,000) - FR First Industrial Realty Trust Inc.: -4.34% (USD 4,751,000) - MMS MAXIMUS Inc.: new (USD 3,983,000) - HKHGF Hongkong Land Holdings Ltd: new (USD 3,918,000) - WY Weyerhaeuser Co.: -0.17% (USD 3,881,000) - CRAI CRA International Inc.: new (USD 2,963,000) - BATRK Atlanta Braves Holdings Inc. Series C: -0.29% (USD 1,351,000) ## Portfolio value by quarter - 2018 Q1: USD 1,965,770,583 (46 positions) - 2018 Q2: USD 2,018,454,991 (50 positions) - 2018 Q3: USD 1,770,199,551 (49 positions) - 2018 Q4: USD 1,234,497,794 (50 positions) - 2019 Q1: USD 1,292,000,842 (54 positions) - 2019 Q2: USD 1,191,306,959 (54 positions) - 2019 Q3: USD 1,107,835,963 (56 positions) - 2019 Q4: USD 1,009,776,739 (56 positions) - 2020 Q1: USD 676,188,962 (67 positions) - 2020 Q2: USD 713,830,081 (65 positions) - 2020 Q3: USD 719,533,761 (64 positions) - 2020 Q4: USD 712,652,412 (64 positions) - 2021 Q1: USD 756,221,975 (61 positions) - 2021 Q2: USD 755,480,457 (60 positions) - 2021 Q3: USD 743,113,550 (59 positions) - 2021 Q4: USD 760,079,838 (56 positions) - 2022 Q1: USD 733,752,475 (55 positions) - 2022 Q2: USD 561,449,884 (54 positions) - 2022 Q3: USD 508,188,248 (52 positions) - 2022 Q4: USD 574,700,282 (55 positions) - 2023 Q1: USD 585,173,768 (54 positions) - 2023 Q2: USD 606,101,517 (58 positions) - 2023 Q3: USD 596,368,557 (59 positions) - 2023 Q4: USD 609,212,950 (59 positions) - 2024 Q1: USD 626,753,906 (58 positions) - 2024 Q2: USD 582,740,119 (59 positions) - 2024 Q3: USD 611,825,159 (59 positions) - 2024 Q4: USD 516,831,463 (59 positions) - 2025 Q1: USD 498,713,287 (61 positions) - 2025 Q2: USD 484,829,052 (52 positions) - 2025 Q3: USD 532,729,767 (50 positions) - 2025 Q4: USD 550,269,634 (51 positions) - 2026 Q1: USD 616,283,650 (53 positions) - 2026 Q2: USD 625,338,000 (55 positions)