Third Avenue Management Portfolio – Holdings & Trades

Portfolio Concentration

Top 5: 44.9%

TDW 12.4900%

HCC 9.3500%

VAL 8.0900%

TDW 8.0100%

BCC 6.9200%

Portfolio Holdings

Stock	%	Activity	Shares	Reported	Value	Current	+/-
Tidewater Inc.TDW	12.49%	Add 5.51%	921,181	$83.55	$0	$0	+0.00%
Warrior Met Coal Inc.HCC	9.35%	Reduce 9.13%	583,320	$88.17	$0	$0	+0.00%
Valaris plcVAL	8.09%	Reduce 13.04%	508,186	$98.04	$0	$0	+0.00%
Tidewater Inc.TDW	8.01%	Reduce 0.18%	873,071	$50.51	$0	$0	+0.00%
Boise Cascade CompanyBCC	6.92%	Add 30.70%	562,021	$75.85	$0	$0	+0.00%
Boise Cascade CompanyBCC	5.75%	Add 57.10%	429,999	$73.6	$0	$0	+0.00%
Warrior Met Coal Inc.HCC	5.50%	Reduce 37.60%	364,002	$93.15	$0	$0	+0.00%
Valaris plcVAL	5.35%	Reduce 0.21%	584,373	$50.4	$0	$0	+0.00%
Harley-DavidsonHOG	4.80%	Buy	1,462,670	$20.22	$0	$0	+0.00%
Brookfield Corp.BN	4.57%	Reduce 3.39%	548,119	$45.89	$0	$0	+0.00%
CBRE GroupCBRE	4.29%	Reduce 5.07%	146,835	$160.79	$0	$0	+0.00%
Five Point Holdings LLCFPH	4.18%		4,113,917	$5.59	$0	$0	+0.00%
Robert Half InternationalRHI	3.73%	Buy	903,905	$25.4	$0	$0	+0.00%
Prologis Inc.PLD	3.37%	Add 0.04%	145,451	$127.66	$0	$0	+0.00%
Rogers Corp.ROG	3.32%	Add 0.05%	199,474	$91.57	$0	$0	+0.00%
Brookfield Corp.BN	3.16%	Reduce 12.16%	481,495	$40.47	$0	$0	+0.00%
Five Point Holdings LLCFPH	3.03%	Reduce 6.14%	3,861,162	$4.84	$0	$0	+0.00%
CBRE GroupCBRE	3.00%	Reduce 7.15%	136,330	$135.46	$0	$0	+0.00%
Prologis Inc.PLD	2.70%	Reduce 13.41%	125,945	$132.18	$0	$0	+0.00%
Rogers Corp.ROG	2.63%	Reduce 24.29%	151,025	$107.33	$0	$0	+0.00%
LE Lennar Corp. CL BLEN.B	2.56%	Add 0.11%	148,008	$95.12	$0	$0	+0.00%
DB Deutsche Bank AGDB	2.36%	Buy	337,193	$38.56	$0	$0	+0.00%
UH U Haul Holding Co Non VotingUHAL.B	2.20%	Add 0.01%	259,246	$46.74	$0	$0	+0.00%
Sun Communities Inc.SUI	2.18%	Add 0.14%	96,922	$123.91	$0	$0	+0.00%
PulteGroup Inc.PHM	2.15%	Add 4.05%	100,684	$117.26	$0	$0	+0.00%
Jones Lang Lasalle Inc.JLL	2.10%	Reduce 33.45%	34,351	$336.47	$0	$0	+0.00%
UH U Haul Holding Co Non VotingUHAL.B	2.06%	Add 9.69%	284,375	$44.67	$0	$0	+0.00%
D.R. HortonDHI	2.05%	Add 0.15%	78,194	$144.03	$0	$0	+0.00%
Fidelity National Financial Inc.FNF	2.04%	Add 73.04%	205,320	$54.59	$0	$0	+0.00%
LE Lennar Corp. CL BLEN.B	1.95%	Reduce 3.49%	142,843	$84.12	$0	$0	+0.00%
Sun Communities Inc.SUI	1.87%	Reduce 5.64%	91,455	$125.96	$0	$0	+0.00%
PulteGroup Inc.PHM	1.82%	Reduce 5.52%	95,128	$117.61	$0	$0	+0.00%
Kaiser Aluminum Corp.KALU	1.78%	Reduce 4.66%	85,363	$114.86	$0	$0	+0.00%
Supernus PharmaceuticalsSUPN	1.71%		189,493	$49.7	$0	$0	+0.00%
Collegium Pharmaceutical Inc.COLL	1.71%		203,401	$46.3	$0	$0	+0.00%
Encore Capital Group Inc.ECPG	1.69%		171,022	$54.35	$0	$0	+0.00%
D.R. HortonDHI	1.64%	Reduce 5.57%	73,836	$137.22	$0	$0	+0.00%
UMB Financial Corp.UMBF	1.64%	Reduce 19.76%	78,245	$115.04	$0	$0	+0.00%
Skyline Champion Corp.SKY	1.63%		106,409	$84.5	$0	$0	+0.00%
American Homes 4 RentAMH	1.62%	Add 45.77%	278,512	$32.1	$0	$0	+0.00%
Encore Capital Group Inc.ECPG	1.62%	Reduce 16.67%	142,512	$70.12	$0	$0	+0.00%
Jones Lang Lasalle Inc.JLL	1.60%	Reduce 5.66%	32,407	$304.32	$0	$0	+0.00%
Fidelity National Financial Inc.FNF	1.46%	Reduce 5.78%	193,455	$46.38	$0	$0	+0.00%
UMB Financial Corp.UMBF	1.43%		78,245	$112.79	$0	$0	+0.00%
MYR Group Inc.MYRG	1.41%		35,554	$218.51	$0	$0	+0.00%
MYR Group Inc.MYRG	1.32%	Reduce 18.94%	28,819	$282.31	$0	$0	+0.00%
ProAssurance Corp.PRA	1.29%	Reduce 19.51%	292,990	$24.16	$0	$0	+0.00%
Prosperity Bancshares Inc.PB	1.28%		102,168	$69.11	$0	$0	+0.00%
Supernus PharmaceuticalsSUPN	1.28%	Reduce 19.40%	152,724	$51.69	$0	$0	+0.00%
Atlanta Braves Holdings Inc. Series ABATRA	1.27%		164,438	$42.49	$0	$0	+0.00%
Atlanta Braves Holdings Inc. Series ABATRA	1.26%		164,438	$47.15	$0	$0	+0.00%
LSB Industries Inc.LXU	1.22%		789,447	$8.5	$0	$0	+0.00%
Skyline Champion Corp.SKY	1.22%	Reduce 5.31%	100,757	$74.37	$0	$0	+0.00%
American Homes 4 RentAMH	1.19%	Reduce 5.74%	262,520	$27.92	$0	$0	+0.00%
TP TRI Pointe GroupTPH-OLD	1.18%		155,855	$46.73	$0	$0	+0.00%
UniFirst Corp.UNF	1.16%		28,434	$251.6	$0	$0	+0.00%
FS Firstservice CorpFSV	1.14%	Add 169.59%	50,452	$138.94	$0	$0	+0.00%
Octave Specialty Group Inc.OSG	1.11%	Add 29.62%	782,093	$7.78	$0	$0	+0.00%
Prosperity Bancshares Inc.PB	1.11%		102,168	$67.18	$0	$0	+0.00%
First Industrial Realty Trust Inc.FR	1.09%	Reduce 1.52%	104,728	$57.27	$0	$0	+0.00%
ProAssurance Corp.PRA	1.05%	Reduce 11.05%	260,608	$24.72	$0	$0	+0.00%
Brookdale Senior Living Inc.BKD	1.03%	Buy	463,664	$13.68	$0	$0	+0.00%
PBF Energy Inc.PBF	1.01%		131,050	$47.62	$0	$0	+0.00%
Octave Specialty Group Inc.OSG	1.01%	Add 71.49%	1,341,211	$4.65	$0	$0	+0.00%
UniFirst Corp.UNF	1.00%	Add 9.66%	28,434	$192.9	$0	$0	+0.00%
Investors Title Co.ITIC	0.99%	Add 0.05%	21,894	$249.66	$0	$0	+0.00%
CE Central Securities Corp.CET	0.94%		101,812	$50.71	$0	$0	+0.00%
Alamo Group Inc.ALG	0.92%	Add 43.00%	34,332	$164.98	$0	$0	+0.00%
LSB Industries Inc.LXU	0.92%	Reduce 51.73%	381,096	$14.9	$0	$0	+0.00%
WESCO International Inc.WCC	0.90%	Add 1.01%	20,295	$244.64	$0	$0	+0.00%
TRI Pointe GroupTPH	0.89%		155,855	$31.47	$0	$0	+0.00%
SandRidge Energy Inc.SD	0.88%		330,818	$16.31	$0	$0	+0.00%
SandRidge Energy Inc.SD	0.87%	Add 0.04%	330,818	$14.43	$0	$0	+0.00%
WESCO International Inc.WCC	0.85%	Reduce 5.18%	19,243	$273.61	$0	$0	+0.00%
Catalyst Pharmaceuticals Inc.CPRX	0.84%	Buy	210,161	$24.76	$0	$0	+0.00%
Collegium Pharmaceutical Inc.COLL	0.83%	Reduce 23.73%	155,143	$33.07	$0	$0	+0.00%
ICF International Inc.ICFI	0.82%	Add 12.42%	52,864	$85.29	$0	$0	+0.00%
CE Central Securities Corp.CET	0.82%		101,812	$49.66	$0	$0	+0.00%
Investors Title Co.ITIC	0.77%		21,894	$217.32	$0	$0	+0.00%
ICF International Inc.ICFI	0.76%	Add 35.70%	71,736	$65.29	$0	$0	+0.00%
First Industrial Realty Trust Inc.FR	0.76%	Reduce 22.64%	81,016	$57.85	$0	$0	+0.00%
Rayonier Inc.RYN	0.74%	Reduce 13.63%	188,340	$21.65	$0	$0	+0.00%
Weyerhaeuser Co.WY	0.74%	Add 5.97%	171,582	$23.69	$0	$0	+0.00%
Alamo Group Inc.ALG	0.73%	Add 61.47%	24,009	$167.85	$0	$0	+0.00%
BlueLinx Holdings Inc.BXC	0.72%	Add 38.79%	64,339	$61.42	$0	$0	+0.00%
OceanFirst Financial Corp.OCFC	0.72%	Add 27.93%	246,662	$18.04	$0	$0	+0.00%
CT Cantaloupe Inc.CTLP-OLD	0.71%		370,013	$10.62	$0	$0	+0.00%
Flagstar Financial Inc.FLG	0.71%	Add 52.43%	331,241	$13.17	$0	$0	+0.00%
Southside Bancshares Inc.SBSI	0.65%	Reduce 44.19%	116,879	$30.39	$0	$0	+0.00%
PBF Energy Inc.PBF	0.65%		131,050	$27.12	$0	$0	+0.00%
Weyerhaeuser Co.WY	0.64%	Reduce 5.36%	162,377	$24.43	$0	$0	+0.00%
OceanFirst Financial Corp.OCFC	0.63%	Add 18.77%	192,807	$17.95	$0	$0	+0.00%
Southside Bancshares Inc.SBSI	0.59%		116,879	$31.09	$0	$0	+0.00%
Kaiser Aluminum Corp.KALU	0.58%	Reduce 65.00%	29,881	$120.51	$0	$0	+0.00%
BlueLinx Holdings Inc.BXC	0.57%	Add 0.05%	64,369	$54.19	$0	$0	+0.00%
Qualys Inc.QLYS	0.56%	Buy	39,120	$87.86	$0	$0	+0.00%
FS Firstservice CorpFSV	0.53%	Buy	18,714	$155.55	$0	$0	+0.00%
Flagstar Financial Inc.FLG	0.50%	Buy	217,305	$12.59	$0	$0	+0.00%
FRP Holdings Inc.FRPH	0.44%	Reduce 39.83%	107,429	$22.79	$0	$0	+0.00%
FRP Holdings Inc.FRPH	0.38%	Reduce 0.25%	107,160	$21.88	$0	$0	+0.00%
Compass Inc.COMP	0.22%	Buy	187,469	$7.31	$0	$0	+0.00%
Atlanta Braves Holdings Inc. Series CBATRK	0.19%		26,104	$39.46	$0	$0	+0.00%
Atlanta Braves Holdings Inc. Series CBATRK	0.18%		26,104	$42.71	$0	$0	+0.00%
F&G Annuities & Life Inc.FG	0.07%	Buy	12,319	$30.85	$0	$0	+0.00%

Recent Activity

TDW

Tidewater Inc.

Add 5.51%

HCC

Warrior Met Coal Inc.

Reduce 9.13%

VAL

Valaris plc

Reduce 13.04%

TDW

Tidewater Inc.

Reduce 0.18%

BCC

Boise Cascade Company

Add 30.70%

BCC

Boise Cascade Company

Add 57.10%

HCC

Warrior Met Coal Inc.

Reduce 37.60%

VAL

Valaris plc

Reduce 0.21%

HOG

Harley-Davidson

Buy

Brookfield Corp.

Reduce 3.39%

CBRE

CBRE Group

Reduce 5.07%

RHI

Robert Half International

Buy

PLD

Prologis Inc.

Add 0.04%

ROG

Rogers Corp.

Add 0.05%

Brookfield Corp.

Reduce 12.16%

FPH

Five Point Holdings LLC

Reduce 6.14%

CBRE

CBRE Group

Reduce 7.15%

PLD

Prologis Inc.

Reduce 13.41%

ROG

Rogers Corp.

Reduce 24.29%

LEN.B

Lennar Corp. CL B

Add 0.11%

Deutsche Bank AG

Buy

UHAL.B

U Haul Holding Co Non Voting

Add 0.01%

SUI

Sun Communities Inc.

Add 0.14%

PHM

PulteGroup Inc.

Add 4.05%

JLL

Jones Lang Lasalle Inc.

Reduce 33.45%

UHAL.B

U Haul Holding Co Non Voting

Add 9.69%

DHI

D.R. Horton

Add 0.15%

FNF

Fidelity National Financial Inc.

Add 73.04%

LEN.B

Lennar Corp. CL B

Reduce 3.49%

SUI

Sun Communities Inc.

Reduce 5.64%

PHM

PulteGroup Inc.

Reduce 5.52%

KALU

Kaiser Aluminum Corp.

Reduce 4.66%

DHI

D.R. Horton

Reduce 5.57%

UMBF

UMB Financial Corp.

Reduce 19.76%

AMH

American Homes 4 Rent

Add 45.77%

ECPG

Encore Capital Group Inc.

Reduce 16.67%

JLL

Jones Lang Lasalle Inc.

Reduce 5.66%

FNF

Fidelity National Financial Inc.

Reduce 5.78%

MYRG

MYR Group Inc.

Reduce 18.94%

PRA

ProAssurance Corp.

Reduce 19.51%

SUPN

Supernus Pharmaceuticals

Reduce 19.40%

SKY

Skyline Champion Corp.

Reduce 5.31%

AMH

American Homes 4 Rent

Reduce 5.74%

FSV

Firstservice Corp

Add 169.59%

OSG

Octave Specialty Group Inc.

Add 29.62%

First Industrial Realty Trust Inc.

Reduce 1.52%

PRA

ProAssurance Corp.

Reduce 11.05%

BKD

Brookdale Senior Living Inc.

Buy

OSG

Octave Specialty Group Inc.

Add 71.49%

UNF

UniFirst Corp.

Add 9.66%

ITIC

Investors Title Co.

Add 0.05%

ALG

Alamo Group Inc.

Add 43.00%

LXU

LSB Industries Inc.

Reduce 51.73%

WCC

WESCO International Inc.

Add 1.01%

SandRidge Energy Inc.

Add 0.04%

WCC

WESCO International Inc.

Reduce 5.18%

CPRX

Catalyst Pharmaceuticals Inc.

Buy

COLL

Collegium Pharmaceutical Inc.

Reduce 23.73%

ICFI

ICF International Inc.

Add 12.42%

ICFI

ICF International Inc.

Add 35.70%

First Industrial Realty Trust Inc.

Reduce 22.64%

RYN

Rayonier Inc.

Reduce 13.63%

Weyerhaeuser Co.

Add 5.97%

ALG

Alamo Group Inc.

Add 61.47%

BXC

BlueLinx Holdings Inc.

Add 38.79%

OCFC

OceanFirst Financial Corp.

Add 27.93%

FLG

Flagstar Financial Inc.

Add 52.43%

SBSI

Southside Bancshares Inc.

Reduce 44.19%

Weyerhaeuser Co.

Reduce 5.36%

OCFC

OceanFirst Financial Corp.

Add 18.77%

KALU

Kaiser Aluminum Corp.

Reduce 65.00%

BXC

BlueLinx Holdings Inc.

Add 0.05%

QLYS

Qualys Inc.

Buy

FSV

Firstservice Corp

Buy

FLG

Flagstar Financial Inc.

Buy

FRPH

FRP Holdings Inc.

Reduce 39.83%

FRPH

FRP Holdings Inc.

Reduce 0.25%

COMP

Compass Inc.

Buy

F&G Annuities & Life Inc.

Buy

The edge that pays for itself.

Portfolio Concentration

Portfolio Holdings

Recent Activity