Marty Whitman - Third Avenue Management 13F Activity & Position Changes (Q4 2024)

According to the SEC 13F filed on Feb 13, 2025, the Third Avenue Management portfolio showed several notable changes in holdings as of quarter-end Dec 31, 2024. 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 Q4 2024, the filing reported:

New Buys - Ambac Financial Group, Inc., OceanFirst Financial Corp.

Increases - Collegium Pharmaceutical, Inc., Five Point Holdings, LLC, PBF Energy Inc., SandRidge Energy, Inc., Sun Communities, Inc., and 2 more

Reductions - Brookfield Corporation, CBRE Group Inc, Comerica Incorporated, Deutsche Bank, Hamilton Beach Brands Holding C, and 7 more

Complete Exits - Lazard, Inc., Trinity Place Holdings 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
Q4 2024	AMBC Ambac Financial Group, Inc.	Ambac Financial Group, Inc.	Buy - Position Entry	+230,416	-	$2.91M	230,416
Q4 2024	BN Brookfield Corporation	Brookfield Corporation	Sell	-63,316	-13.9%	$22.49M	391,478
Q4 2024	CBRE CBRE Group Inc	CBRE Group Inc	Sell	-8,993	-4.9%	$22.85M	174,018
Q4 2024	CMA Comerica Incorporated	Comerica Incorporated	Sell	-173,002	-36.4%	$18.73M	302,881
Q4 2024	COLL Collegium Pharmaceutical, Inc.	Collegium Pharmaceutical, Inc.	Buy	+20,750	+11.4%	$5.83M	203,401
Q4 2024	DB Deutsche Bank	Deutsche Bank	Sell	-302,426	-12.2%	$37.67M	2,186,504
Q4 2024	FPH Five Point Holdings, LLC	Five Point Holdings, LLC	Buy	+814,981	+24.6%	$15.60M	4,125,911
Q4 2024	HBB Hamilton Beach Brands Holding C	Hamilton Beach Brands Holding C	Sell	-19,144	-6.0%	$5.01M	297,490
Q4 2024	HCC Warrior Met Coal, Inc.	Warrior Met Coal, Inc.	Sell	-207,969	-26.1%	$31.86M	587,445
Q4 2024	IVT InvenTrust Properties Corp.	InvenTrust Properties Corp.	Sell	-145,176	-79.3%	$1.14M	38,000
Q4 2024	LAZ Lazard, Inc.	Lazard, Inc.	Sell - Position Exit	-362,515	-100.0%	$0.00	-
Q4 2024	OCFC OceanFirst Financial Corp.	OceanFirst Financial Corp.	Buy - Position Entry	+60,859	-	$1.10M	60,859
Q4 2024	ORI Old Republic International Corp	Old Republic International Corp	Sell	-44,576	-8.7%	$16.85M	465,478
Q4 2024	PBF PBF Energy Inc.	PBF Energy Inc.	Buy	+45,092	+52.5%	$3.48M	131,050
Q4 2024	SD SandRidge Energy, Inc.	SandRidge Energy, Inc.	Buy	+50,144	+17.9%	$3.87M	330,698
Q4 2024	SUI Sun Communities, Inc.	Sun Communities, Inc.	Buy	+342	+0.3%	$13.30M	108,137
Q4 2024	TDW Tidewater Inc.	Tidewater Inc.	Buy	+106,705	+22.2%	$32.18M	588,179
Q4 2024	TPHS Trinity Place Holdings Inc.	Trinity Place Holdings Inc.	Sell - Position Exit	-3,475,472	-100.0%	$0.00	-
Q4 2024	UHAL-B U-Haul Holding Company Series N	U-Haul Holding Company Series N	Sell	-34,663	-12.2%	$16.00M	249,865
Q4 2024	UMBF UMB Financial Corporation	UMB Financial Corporation	Sell	-8,100	-7.3%	$11.60M	102,796
Q4 2024	VAL Valaris Ltd	Valaris Ltd	Sell	-5,739	-1.3%	$18.87M	426,608
Q4 2024	VTMX Corporacion Inmobiliaria Vesta,	Corporacion Inmobiliaria Vesta,	Buy	+15,000	+150.0%	$640.00K	25,000
Q4 2024	WY Weyerhaeuser Company	Weyerhaeuser Company	Sell	-87,158	-28.3%	$6.22M	220,849