Marty Whitman – Third Avenue Management Portfolio Activity & Recent Trades (Jun 30, 2025)

As of Jun 30, 2025, the Third Avenue Management portfolio activity showed several notable changes in holdings, according to the latest SEC 13F filing reported on Aug 13, 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 Q2 2025, the filing reported:

New Buys – Cantaloupe, Inc. (CTLP), Champion Homes, Inc. (SKY), Visteon Corporation (VC)

Increases – Ambac Financial Group, Inc. (AMBC), Tidewater Inc. (TDW), OceanFirst Financial Corp. (OCFC), PulteGroup, Inc. (PHM), Warrior Met Coal, Inc. (HCC), and 8 more

Reductions – UMB Financial Corporation (UMBF), Jones Lang LaSalle Incorporated (JLL), Seaboard Corporation (SEB), Rayonier Inc. REIT (RYN), CBRE Group Inc (CBRE), and 14 more

Complete Exits – U-Haul Holding Company (UHAL), Green Brick Partners, Inc. (GRBK), Stewart Information Services Co (STC), PotlatchDeltic Corporation - Co (PCH), Corporacion Inmobiliaria Vesta, (VTMX), and 7 more

These updates highlight how the portfolio adjusted across different sectors and market conditions, offering insights into allocation shifts and investment trends.

Third Avenue Management Activity

Date	Symbol	Name	Type	Quantity	Value	Remaining
Q1 2014Mar 31, 2014	SUP Superior Industries Internation	Superior Industries Internation	Sell - Position Exit	-439,701-100.0%	$0.00	-
Q1 2014Mar 31, 2014	ENS EnerSys	EnerSys	Sell	-461,172-44.6%	$39.70K	572,989
Q1 2014Mar 31, 2014	BELFB Bel Fuse Inc.	Bel Fuse Inc.	Sell - Position Exit	-530,821-100.0%	$0.00	-
Q1 2014Mar 31, 2014	AEO American Eagle Outfitters, Inc.	American Eagle Outfitters, Inc.	Sell - Position Exit	-618,067-100.0%	$0.00	-
Q1 2014Mar 31, 2014	ICFI ICF International, Inc.	ICF International, Inc.	Sell	-752,954-56.4%	$23.20K	582,866
Q1 2014Mar 31, 2014	NEM Newmont Corporation	Newmont Corporation	Sell - Position Exit	-874,219-100.0%	$0.00	-
Q1 2014Mar 31, 2014	OSK Oshkosh Corporation (Holding Co	Oshkosh Corporation (Holding Co	Sell	-948,767-76.0%	$17.65K	299,822
Q1 2014Mar 31, 2014	IAG Iamgold Corporation	Iamgold Corporation	Sell - Position Exit	-995,315-100.0%	$0.00	-
Q1 2014Mar 31, 2014	CCRN Cross Country Healthcare, Inc.	Cross Country Healthcare, Inc.	Sell - Position Exit	-1,135,308-100.0%	$0.00	-
Q1 2014Mar 31, 2014	DVN Devon Energy Corporation	Devon Energy Corporation	Sell	-1,157,622-31.1%	$171.52K	2,562,708
Q1 2014Mar 31, 2014	BAM Brookfield Asset Management Ltd.	Brookfield Asset Management Ltd.	Sell	-1,353,672-24.5%	$169.96K	4,160,589
Q1 2014Mar 31, 2014	WY Weyerhaeuser Company	Weyerhaeuser Company	Sell	-1,689,534-20.5%	$191.89K	6,538,015
Q1 2014Mar 31, 2014	BK The Bank of New York Mellon Cor	The Bank of New York Mellon Cor	Sell	-2,320,788-30.5%	$186.90K	5,296,072
Q1 2014Mar 31, 2014	KEY KeyCorp	KeyCorp	Sell	-4,037,828-31.8%	$123.08K	8,643,141
Q1 2014Mar 31, 2014	KGC Kinross Gold Corporation	Kinross Gold Corporation	Sell	-6,309,042-96.0%	$1.08K	259,956
Q3 2013Sep 30, 2013	CVCO Cavco Industries, Inc.	Cavco Industries, Inc.	Buy	+1,867,370+1282.1%	$114.64K	2,013,020
Q3 2013Sep 30, 2013	SKT Tanger Inc.	Tanger Inc.	Buy - Position Entry	+1,394,811	$45.54K	1,394,811
Q3 2013Sep 30, 2013	NSIT Insight Enterprises, Inc.	Insight Enterprises, Inc.	Buy - Position Entry	+1,032,290	$19.53K	1,032,290
Q3 2013Sep 30, 2013	BKD Brookdale Senior Living Inc.	Brookdale Senior Living Inc.	Buy	+987,272+149.8%	$43.29K	1,646,138
Q3 2013Sep 30, 2013	IAG Iamgold Corporation	Iamgold Corporation	Buy	+669,745+205.7%	$4.73K	995,315
Q3 2013Sep 30, 2013	CIF MFS Intermediate High Income Fu	MFS Intermediate High Income Fu	Buy - Position Entry	+480,650	$1.33K	480,650
Q3 2013Sep 30, 2013	BTZ BlackRock Credit Allocation Inc	BlackRock Credit Allocation Inc	Buy - Position Entry	+447,448	$5.83K	447,448
Q3 2013Sep 30, 2013	WY Weyerhaeuser Company	Weyerhaeuser Company	Buy	+429,903+5.5%	$235.56K	8,227,549
Q3 2013Sep 30, 2013	KGC Kinross Gold Corporation	Kinross Gold Corporation	Buy	+405,044+6.6%	$33.17K	6,568,998
Q3 2013Sep 30, 2013	FCN FTI Consulting, Inc.	FTI Consulting, Inc.	Buy - Position Entry	+381,698	$14.43K	381,698
Q3 2013Sep 30, 2013	TTEK Tetra Tech, Inc.	Tetra Tech, Inc.	Buy	+353,663+38.1%	$33.16K	1,280,861
Q3 2013Sep 30, 2013	HYB New America High Income Fund, I	New America High Income Fund, I	Buy - Position Entry	+333,065	$3.17K	333,065
Q3 2013Sep 30, 2013	UMBF UMB Financial Corporation	UMB Financial Corporation	Buy	+251,414+192.8%	$20.75K	381,800
Q3 2013Sep 30, 2013	XEADX Wells Fargo Income Opportunitie	Wells Fargo Income Opportunitie	Buy - Position Entry	+232,918	$2.10K	232,918
Q3 2013Sep 30, 2013	NHS Neuberger Berman High Yield Str	Neuberger Berman High Yield Str	Buy - Position Entry	+229,145	$2.99K	229,145

Page 74 of 79 • 2341 total trades

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