Marty Whitman - Third Avenue Management 13F Activity & Position Changes (Q1 2019)

According to the SEC 13F filed on Aug 12, 2026, the Third Avenue Management portfolio showed several notable changes in holdings as of quarter-end Mar 31, 2019. 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 Q1 2019, the filing reported:

New Buys - Argan, Inc., Eagle Materials Inc, Mohawk Industries, Inc.

Increases - ATN International, Inc., Customers Bancorp, Inc, Five Point Holdings, LLC, FRP Holdings, Inc., Transocean, and 9 more

Reductions - Acadia Realty Trust, AdvanSix Inc., Brookfield Asset Management Inc, Century Communities, Inc., Cullen/Frost Bankers, Inc., and 17 more

Complete Exits - Standard Motor Products, Inc., SPDR S&P 500, Tetra Tech, Inc.

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
Q1 2019	AGX Argan, Inc.	Argan, Inc.	Buy - Position Entry	+89,000	-	$4.29K	89,000
Q1 2019	AKR Acadia Realty Trust	Acadia Realty Trust	Sell	-523,148	-29.7%	$34.90K	1,237,435
Q1 2019	ASIX AdvanSix Inc.	AdvanSix Inc.	Sell	-48,007	-21.0%	$5.51K	180,736
Q1 2019	ATNI ATN International, Inc.	ATN International, Inc.	Buy	+21,157	+18.4%	$8.27K	136,210
Q1 2019	BAM Brookfield Asset Management Inc	Brookfield Asset Management Inc	Sell	-1,008,284	-37.2%	$80.10K	1,705,617
Q1 2019	CCS Century Communities, Inc.	Century Communities, Inc.	Sell	-25,702	-39.1%	$1.09K	40,000
Q1 2019	CFR Cullen/Frost Bankers, Inc.	Cullen/Frost Bankers, Inc.	Sell	-18,469	-30.4%	$4.26K	42,331
Q1 2019	CMA Comerica Incorporated	Comerica Incorporated	Sell	-90,652	-16.7%	$34.24K	451,256
Q1 2019	CUBI Customers Bancorp, Inc	Customers Bancorp, Inc	Buy	+39	+0.0%	$11.38K	519,152
Q1 2019	EXP Eagle Materials Inc	Eagle Materials Inc	Buy - Position Entry	+175,889	-	$15.65K	175,889
Q1 2019	FCN FTI Consulting, Inc.	FTI Consulting, Inc.	Sell	-23,779	-17.7%	$9.05K	110,343
Q1 2019	FNF FNF Group of Fidelity National	FNF Group of Fidelity National	Sell	-40,785	-7.8%	$18.81K	483,250
Q1 2019	FPH Five Point Holdings, LLC	Five Point Holdings, LLC	Buy	+109,577	+1.0%	$105.97K	11,556,368
Q1 2019	FR First Industrial Realty Trust,	First Industrial Realty Trust,	Sell	-156,773	-14.7%	$31.09K	908,608
Q1 2019	FRPH FRP Holdings, Inc.	FRP Holdings, Inc.	Buy	+7,770	+6.3%	$6.30K	131,757
Q1 2019	G Genpact	Genpact	Sell	-41,194	-25.4%	$4.36K	120,872
Q1 2019	GRBK Green Brick Partners, Inc.	Green Brick Partners, Inc.	Sell	-15,000	-20.0%	$558.00	60,000
Q1 2019	H8817H100 Transocean	Transocean	Buy	+10,657	+0.7%	$11.55K	1,521,285
Q1 2019	HA		Buy	+174,111	+14.6%	$37.07K	1,367,842
Q1 2019	HCC Warrior Met Coal, Inc.	Warrior Met Coal, Inc.	Sell	-653,507	-24.9%	$55.20K	1,965,987
Q1 2019	JBGS JBG SMITH Properties	JBG SMITH Properties	Buy	+677,731	+106.4%	$54.27K	1,314,725
Q1 2019	KALU Kaiser Aluminum Corporation	Kaiser Aluminum Corporation	Sell	-21,859	-34.9%	$3.90K	40,819
Q1 2019	LEN Lennar Corporation	Lennar Corporation	Sell	-604,838	-23.7%	$99.49K	1,945,824
Q1 2019	LEN-B Lennar Corporation	Lennar Corporation	Buy	+5,665	+0.5%	$51.05K	1,248,201
Q1 2019	LOW Lowe's Companies, Inc.	Lowe's Companies, Inc.	Sell	-76,602	-21.7%	$29.47K	276,136
Q1 2019	MAC Macerich Company (The)	Macerich Company (The)	Sell	-120,766	-7.9%	$57.18K	1,403,122
Q1 2019	MHK Mohawk Industries, Inc.	Mohawk Industries, Inc.	Buy - Position Entry	+88,805	-	$11.90K	88,805
Q1 2019	PNC PNC Financial Services Group, I	PNC Financial Services Group, I	Sell	-17,776	-6.3%	$34.92K	264,544
Q1 2019	RYN Rayonier Inc. REIT	Rayonier Inc. REIT	Sell	-180,881	-7.9%	$65.99K	2,100,124
Q1 2019	SEB Seaboard Corporation	Seaboard Corporation	Buy	+98	+6.1%	$7.24K	1,708

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