Marty Whitman - Third Avenue Management 13F Activity & Position Changes (Q1 2023)

As of Mar 31, 2023, the Third Avenue Management portfolio activity showed several notable changes in holdings, according to the latest SEC 13F filing reported on May 12, 2023. 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 2023, the filing reported:

New Buys - Jones Lang LaSalle Incorporated

Increases - Brookfield Asset Management Inc, Brookfield Corporation, CBRE Group Inc, Comerica Incorporated, Deutsche Bank, and 13 more

Reductions - American Homes 4 Rent, D.R. Horton, Inc., Five Point Holdings, LLC, First Industrial Realty Trust, , InvenTrust Properties Corp., and 10 more

Complete Exits - Stratus Properties Inc., iShares, Inc. iShares MSCI Worl

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 2023	AMH American Homes 4 Rent	American Homes 4 Rent	Sell	-57,340	-13.9%	$11.19M	355,823
Q1 2023	BAM Brookfield Asset Management Inc	Brookfield Asset Management Inc	Buy	+487	+0.4%	$4.27M	130,646
Q1 2023	BN Brookfield Corporation	Brookfield Corporation	Buy	+584	+0.1%	$16.99M	521,226
Q1 2023	CBRE CBRE Group Inc	CBRE Group Inc	Buy	+479	+0.3%	$13.19M	181,221
Q1 2023	CMA Comerica Incorporated	Comerica Incorporated	Buy	+176,912	+58.3%	$20.86M	480,358
Q1 2023	DB Deutsche Bank	Deutsche Bank	Buy	+122,738	+4.2%	$30.61M	3,011,103
Q1 2023	DHI D.R. Horton, Inc.	D.R. Horton, Inc.	Sell	-11,123	-5.3%	$19.48M	199,374
Q1 2023	ECPG Encore Capital Group Inc	Encore Capital Group Inc	Buy	+13,306	+11.1%	$6.70M	132,837
Q1 2023	FNF FNF Group of Fidelity National	FNF Group of Fidelity National	Buy	+3,573,975	+2000.8%	$8.86M	3,752,600
Q1 2023	FPH Five Point Holdings, LLC	Five Point Holdings, LLC	Sell	-4,520,993	-96.6%	$8.41M	158,010
Q1 2023	FR First Industrial Realty Trust,	First Industrial Realty Trust,	Sell	-36,024	-22.9%	$4.24M	121,428
Q1 2023	HA		Buy	+910,431	+141.0%	$14.25M	1,556,133
Q1 2023	HCC Warrior Met Coal, Inc.	Warrior Met Coal, Inc.	Buy	+68,653	+5.4%	$49.31M	1,343,267
Q1 2023	IVT InvenTrust Properties Corp.	InvenTrust Properties Corp.	Sell	-149,368	-21.6%	$12.70M	542,852
Q1 2023	JLL Jones Lang LaSalle Incorporated	Jones Lang LaSalle Incorporated	Buy - Position Entry	+51,235	-	$7.45M	51,235
Q1 2023	LEN-B Lennar Corporation	Lennar Corporation	Sell	-54,540	-16.6%	$24.42M	273,468
Q1 2023	MYRG MYR Group, Inc.	MYR Group, Inc.	Buy	+733,244	+724.6%	$20.84M	834,431
Q1 2023	ORI Old Republic International Corp	Old Republic International Corp	Sell	-817,681	-97.6%	$990.00K	20,000
Q1 2023	PB Prosperity Bancshares, Inc.	Prosperity Bancshares, Inc.	Buy	+344,311	+337.7%	$14.84M	446,276
Q1 2023	PCH PotlatchDeltic Corporation - Co	PotlatchDeltic Corporation - Co	Buy	+424,085	+2120.4%	$8.21M	444,085
Q1 2023	PLD Prologis, Inc.	Prologis, Inc.	Sell	-68,899	-40.3%	$6.27M	101,965
Q1 2023	PRA ProAssurance Corporation	ProAssurance Corporation	Sell	-210,877	-55.6%	$20.98M	168,166
Q1 2023	ROIC Retail Opportunity Investments	Retail Opportunity Investments	Sell	-72,664	-96.9%	$8.81M	2,336
Q1 2023	RYN Rayonier Inc. REIT	Rayonier Inc. REIT	Sell	-382,950	-83.6%	$1.05M	75,000
Q1 2023	SBSI Southside Bancshares, Inc.	Southside Bancshares, Inc.	Sell	-128,188	-61.2%	$4.80M	81,238
Q1 2023	SEB Seaboard Corporation	Seaboard Corporation	Buy	+207,090	+8865.2%	$6.95M	209,426
Q1 2023	SPHR Sphere Entertainment Co.	Sphere Entertainment Co.	Buy	+23,643	+37.2%	$10.99M	87,201
Q1 2023	STRS Stratus Properties Inc.	Stratus Properties Inc.	Sell - Position Exit	-60,245	-100.0%	$0.00	-
Q1 2023	TDW Tidewater Inc.	Tidewater Inc.	Sell	-416,918	-23.0%	$61.45M	1,394,007
Q1 2023	TPH Tri Pointe Homes, Inc.	Tri Pointe Homes, Inc.	Sell	-70,715	-21.4%	$6.57M	259,463

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