Marty Whitman - Third Avenue Management Portfolio (Q2 2026)
Third Avenue Management, Marty Whitman, has built a diversified portfolio of 54 publicly traded holdings with a total market value of $625.34M, according to the SEC 13F filed on Aug 12, 2026 (holdings as of quarter-end Jun 30, 2026). This analysis examines that filing to understand the investment strategy and recent portfolio adjustments.
The portfolio demonstrates a diversified approach to stock selection, with the top holding representing 10.0% of the total portfolio value. The top 5 holdings account for 35.1% of the overall portfolio allocation.
Recent portfolio activity shows 10 significant position adjustments, indicating active portfolio management and strategic repositioning. These changes reflect the investor's response to market conditions and evolving investment thesis.
Portfolio Statistics
Top Holdings Analysis
The portfolio's top holdings reveal the investor's core investment thesis and sector preferences. The largest position in Tidewater Inc (TDW) represents 10.0% of the total portfolio, valued at $62.2M.
| Rank | Symbol | Company | Value | Portfolio % | Change |
|---|---|---|---|---|---|
| 1 | TDW | Tidewater Inc | $62.2M | 10.0% | +1.4% |
| 2 | BCC | Boise Cascade Co | $46.7M | 7.5% | +7.1% |
| 3 | VAL | Valaris Ltd | $37.5M | 6.0% | +1.6% |
| 4 | RHI | Robert Half Inc | $37.1M | 5.9% | +33.7% |
| 5 | HOG | Harley-Davidson Inc | $36.2M | 5.8% | +1.2% |
For a complete analysis of all holdings and detailed portfolio breakdown by sector and market cap, visit our comprehensive holdings page.
Recent Portfolio Activity
Recent portfolio adjustments provide insights into the investor's evolving strategy and market outlook.
The following table shows the top 10 most significant position changes from
recent reporting periods (out of 144 total transactions), sorted by the magnitude of
change.
For a complete history of all portfolio transactions and detailed activity analysis,
visit our comprehensive
activity page.
| Symbol | Company | Quantity Change | Date | Action |
|---|---|---|---|---|
| RHI | Robert Half Inc. | +304,431 | Jun 30, 2026 | BUY |
| PRA | ProAssurance Corporation | -260,608 | Jun 30, 2026 | SELL |
| FPH | Five Point Holdings, LLC | -165,007 | Jun 30, 2026 | SELL |
| TPH | Tri Pointe Homes, Inc. | -155,855 | Jun 30, 2026 | SELL |
| ROG | Rogers Corporation | -89,441 | Jun 30, 2026 | SELL |
| BN | Brookfield Corporation | -86,566 | Jun 30, 2026 | SELL |
| TMHC | Taylor Morrison Home Corporatio | +85,941 | Jun 30, 2026 | BUY |
| HCC | Warrior Met Coal, Inc. | -78,604 | Jun 30, 2026 | SELL |
| MMS | Maximus, Inc. | +74,085 | Jun 30, 2026 | BUY |
| BATRA | Atlanta Braves Holdings, Inc. - | -52,558 | Jun 30, 2026 | SELL |
Investment Strategy Insights
Third Avenue Management's investment approach can be analyzed through several key metrics. The portfolio's concentration in top holdings suggests a diversified investment strategy, with significant positions in companies that align with the investor's long-term thesis.
The largest position in Tidewater Inc (TDW) demonstrates strong conviction in this particular investment opportunity. Recent activity shows a increase of 1.4% in this position, indicating active portfolio management and strategic positioning.
Portfolio turnover can be assessed through recent activity patterns. The 10 most significant transactions shown here (out of 144 total transactions) suggest a highly active approach to portfolio management, with frequent strategic adjustments and position changes.
Additional Analysis
Complete Holdings
View all 54 holdings with detailed analysis
Trading Activity
Track all portfolio transactions and position changes
Performance Metrics
Analyze profit, winning trades, and investment returns
Sector Allocation
Analyze portfolio breakdown by sector and industry
Third Avenue Management's portfolio as of Jun 30, 2026 reflects a strategic approach to equity investing with 54 holdings valued at $625.3M. The concentrated position in Tidewater Inc and other top holdings demonstrates the investor's confidence in specific investment themes and long-term value creation opportunities. Recent activity indicates ongoing portfolio optimization and strategic repositioning.
For the most current portfolio data and detailed analysis, refer to the latest SEC 13F filings and our comprehensive holdings and activity pages, which are updated regularly with the latest filing information.
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