Marty Whitman – Third Avenue Management Portfolio Activity & Recent Trades (Sep 30, 2025)
As of Sep 30, 2025, the Third Avenue Management portfolio activity showed several notable changes in holdings, according to the latest SEC 13F filing reported on Nov 14, 2025. The activity included new positions, additions to existing holdings, reductions, and complete exits, providing a clear view of how the portfolio evolved during the quarter.
During Q3 2025, the filing reported:
New Buys – Boise Cascade, L.L.C., Rogers Corporation
Increases – Warrior Met Coal, Inc., OceanFirst Financial Corp., Champion Homes, Inc., Tri Pointe Homes, Inc., Unifirst Corporation
Reductions – CBRE Group Inc, Comerica Incorporated, D.R. Horton, Inc., Five Point Holdings, LLC, First Industrial Realty Trust, , and 15 more
These updates highlight how the portfolio adjusted across different sectors and market conditions, offering insights into allocation shifts and investment trends.
| Date | Symbol | Name | Type | Change Qty | % Change | Value | Remaining |
|---|---|---|---|---|---|---|---|
Q3 2025 | BCC Boise Cascade, L.L.C. | Boise Cascade, L.L.C. | Buy - Position Entry | +273,705 | - | $21.18M | 273,705 |
Q3 2025 | CBRE CBRE Group Inc | CBRE Group Inc | Sell | -10,038 | -6.1% | $24.22M | 154,672 |
Q3 2025 | CMA Comerica Incorporated | Comerica Incorporated | Sell | -14,896 | -8.7% | $10.80M | 156,314 |
Q3 2025 | DB Deutsche Bank | Deutsche Bank | Sell - Position Exit | -1,021,558 | -100.0% | $0.00 | - |
Q3 2025 | DHI D.R. Horton, Inc. | D.R. Horton, Inc. | Sell | -111 | -0.1% | $13.46M | 78,078 |
Q3 2025 | FPH Five Point Holdings, LLC | Five Point Holdings, LLC | Sell | -11,994 | -0.3% | $25.22M | 4,113,917 |
Q3 2025 | FR First Industrial Realty Trust, | First Industrial Realty Trust, | Sell | -26,321 | -19.8% | $5.54M | 106,342 |
Q3 2025 | FRPH FRP Holdings, Inc. | FRP Holdings, Inc. | Sell | -32,910 | -15.6% | $4.29M | 178,530 |
Q3 2025 | HBB Hamilton Beach Brands Holding C | Hamilton Beach Brands Holding C | Sell - Position Exit | -131,461 | -100.0% | $0.00 | - |
Q3 2025 | HCC Warrior Met Coal, Inc. | Warrior Met Coal, Inc. | Buy | +232 | +0.0% | $42.32M | 641,916 |
Q3 2025 | ITIC Investors Title Company | Investors Title Company | Sell | -13,869 | -38.8% | $5.88M | 21,883 |
Q3 2025 | JLL Jones Lang LaSalle Incorporated | Jones Lang LaSalle Incorporated | Sell | -71 | -0.1% | $15.35M | 51,619 |
Q3 2025 | LEN-B Lennar Corporation | Lennar Corporation | Sell | -190 | -0.1% | $18.03M | 147,843 |
Q3 2025 | MRP Millrose Properties | Millrose Properties | Sell - Position Exit | -50,697 | -100.0% | $0.00 | - |
Q3 2025 | MYRG MYR Group, Inc. | MYR Group, Inc. | Sell | -19,041 | -34.9% | $7.18M | 35,554 |
Q3 2025 | OCFC OceanFirst Financial Corp. | OceanFirst Financial Corp. | Buy | +93 | +0.1% | $2.82M | 162,331 |
Q3 2025 | ORI Old Republic International Corp | Old Republic International Corp | Sell - Position Exit | -98,535 | -100.0% | $0.00 | - |
Q3 2025 | PHM PulteGroup, Inc. | PulteGroup, Inc. | Sell | -165 | -0.2% | $13.01M | 96,766 |
Q3 2025 | PLD Prologis, Inc. | Prologis, Inc. | Sell | -128 | -0.1% | $16.94M | 145,394 |
Q3 2025 | PRA ProAssurance Corporation | ProAssurance Corporation | Sell | -20,627 | -5.4% | $8.73M | 364,013 |
Q3 2025 | ROG Rogers Corporation | Rogers Corporation | Buy - Position Entry | +199,368 | - | $16.31M | 199,368 |
Q3 2025 | RYN Rayonier Inc. REIT | Rayonier Inc. REIT | Sell | -40,077 | -15.5% | $5.87M | 218,052 |
Q3 2025 | SKY Champion Homes, Inc. | Champion Homes, Inc. | Buy | +46,544 | +77.7% | $8.29M | 106,409 |
Q3 2025 | SUI Sun Communities, Inc. | Sun Communities, Inc. | Sell | -424 | -0.4% | $12.44M | 96,786 |
Q3 2025 | TDW Tidewater Inc. | Tidewater Inc. | Sell | -490 | -0.1% | $47.93M | 874,667 |
Q3 2025 | TPH Tri Pointe Homes, Inc. | Tri Pointe Homes, Inc. | Buy | +25 | +0.0% | $5.34M | 155,855 |
Q3 2025 | UHAL-B U-Haul Holding Company Series N | U-Haul Holding Company Series N | Sell | -285 | -0.1% | $13.26M | 259,225 |
Q3 2025 | UMBF UMB Financial Corporation | UMB Financial Corporation | Sell | -5,245 | -5.1% | $11.54M | 97,518 |
Q3 2025 | UNF Unifirst Corporation | Unifirst Corporation | Buy | +2,573 | +11.0% | $4.31M | 25,929 |
Q3 2025 | VAL Valaris Ltd | Valaris Ltd | Sell | -319 | -0.1% | $29.99M | 585,602 |