# Third Avenue Management: 13F portfolio, Q2 2026

Investment firm, New York.

Source: SEC Form 13F filed 2026-08-12 for the quarter ended 2026-06-30: https://www.sec.gov/Archives/edgar/data/1099281/000109928126000008/0001099281-26-000008-index.htm
Values are as the manager reported them in the filing, not current market prices.
Page: https://valuepeg.com/managers/third-avenue
Updated: 2026-08-12 · Next filing due by 2026-11-14

## Summary
- Reported value: $625.3M (Q1 2026: $616.0M)
- Positions: 55 (Q1 2026: 53)
- Top 10 holdings: 50.2% of the portfolio
- This quarter: 4 new, 13 added to, 23 trimmed, 2 sold out

## What Third Avenue Management did in Q2 2026
Third Avenue Management opened 4 new positions, the largest Taylor Morrison Home, Maximus and Hongkong Land Holdings. It sold out of Tri Pointe Group and Proassurance. It cut Rogers by 59% and Myr Group by 55%. Tidewater is still the largest holding, at 10.0% of the portfolio.

## Biggest buys
- Taylor Morrison Home (TMHC): New
- Maximus (MMS): New
- Hongkong Land Holdings: New
- Cra International (CRAI): New
- ICF International (ICFI): +38%

## Biggest sells
- Tri Pointe Group (TPH): Sold out
- Proassurance (PRA): Sold out
- Rogers (ROG): −59%
- Myr Group (MYRG): −55%
- Atlanta Braves Holdings (BATRA): −32%

## Top 15 holdings
| # | Company | Ticker | % of portfolio | Reported value | Change vs Q1 2026 | Held since |
|---|---|---|---|---|---|---|
| 1 | Tidewater | TDW | 10.0% | $62.2M | +1% | Q3 2024 or earlier |
| 2 | Boise Cascade | BCC | 7.5% | $46.7M | +7% | Q3 2025 |
| 3 | Valaris | VAL | 6.0% | $37.5M | +2% | Q3 2024 or earlier |
| 4 | Robert Half | RHI | 5.9% | $37.1M | +34% | Q1 2026 |
| 5 | Harley-Davidson | HOG | 5.8% | $36.2M | +1% | Q1 2026 |
| 6 | Warrior Met Coal | HCC | 3.7% | $23.2M | −22% | Q3 2024 or earlier |
| 7 | Five Point Holdings | FPH | 3.1% | $19.5M | −4% | Q3 2024 or earlier |
| 8 | Cbre Group | CBRE | 2.9% | $18.3M | −0.3% | Q3 2024 or earlier |
| 9 | Brookfield | BN | 2.7% | $16.8M | −18% | Q3 2024 or earlier |
| 10 | U-Haul Holding | UHAL-B | 2.6% | $16.4M | −0.2% | Q3 2024 or earlier |
| 11 | Prologis | PLD | 2.3% | $14.2M | −17% | Q3 2024 or earlier |
| 12 | Lennar | LEN-B | 2.1% | $13.3M | +5% | Q3 2024 or earlier |
| 13 | Pultegroup | PHM | 2.1% | $13.1M | −0.0% | Q1 2025 |
| 14 | Encore Capital Group | ECPG | 1.9% | $12.1M | −9% | Q3 2024 or earlier |
| 15 | Horton D R | DHI | 1.8% | $11.3M | −6% | Q3 2024 or earlier |

40 more positions and every quarter's holdings are on Valuepeg for members: https://valuepeg.com/managers/third-avenue

## Other value investors
- Third Point (Dan Loeb): https://valuepeg.com/managers/third-point
- Tiger Global Management (Chase Coleman): https://valuepeg.com/managers/tiger-global
- Trian Fund Management: https://valuepeg.com/managers/trian-fund-management
- Triple Frond Partners: https://valuepeg.com/managers/triple-frond-partners
- Tweedy, Browne: https://valuepeg.com/managers/tweedy-browne

## About this data
- **What is a 13F?** A quarterly report to the SEC in which an investment manager with over $100 million in US-listed stocks lists what it holds.
- **How current is it?** Managers file up to 45 days after each quarter ends, so the holdings may have changed since.
- **Whose figures are these?** The values are as the manager reported them in the filing, not today's prices. The SEC lets a manager keep some positions confidential for a time, and those are not in the filing.
- **What does it leave out?** Short positions, cash, bonds and most holdings outside US markets. Options are left out here too.

Not investment advice.