Marty Whitman - Third Avenue Management Portfolio Balances (Dec 31, 2025)

As of Dec 31, 2025, the Third Avenue Management portfolio balances reported a total equity value of $550.21M across 51 publicly traded holdings. These balances reflect the most recent SEC 13F filing dated Feb 12, 2026, providing an updated snapshot of assets under management.

The portfolio balances highlight Warrior Met Coal Inc. (HCC) as the single largest position, accounting for 9.3% of total equity value, followed by Tidewater Inc. (TDW), Boise Cascade Company (BCC), Valaris Ltd. (VAL), and others. Collectively, the top five holdings represent 33.0% of the portfolio, showing how capital is distributed among core positions and long-term investments.