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THIRD AVENUE MANAGEMENT LLC

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13F filer, CIK 1099281, NEW YORK, NY

THIRD AVENUE MANAGEMENT LLC reported $532,679,180 across 50 holdings for the quarter ended 2025-09-30, in a 13F-HR filed 2025-11-14. Its ten largest share positions make up 50.28% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001099281-25-000017

Period
2025-09-30
Reported value
$533M
Holdings
50
Top 10 weight
50.28%
New
2
Sold out
4

Largest buys vs the previous quarter

SecurityShares changeApprox. value
BCCnew+273,705$21.2M
ROGnew+199,368$16.3M
SKYadded+46,544$3.62M
UNFadded+2,573$428K
HCCadded+232$15.3K

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Largest sells vs the previous quarter

SecurityShares changeApprox. value
DBexited-1,021,558-$30.2M
MYRGreduced-19,041-$3.85M
ORIexited-98,535-$3.79M
ITICreduced-13,869-$3.73M
HBBexited-131,461-$2.35M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Holdings, Q3 2025

Share positions as resolved from 13F-HR 0001099281-25-000017, largest first. % of portfolio is the value over $532,679,180, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
TDWTIDEWATER INC NEWQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 481,474 shares; 2024Q4: 588,179 shares; 2025Q1: 809,258 shares; 2025Q2: 875,157 shares; 2025Q3: 874,667 shares 874,667$47.9M9%-490Timeline
HCCWARRIOR MET COAL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 795,414 shares; 2024Q4: 587,445 shares; 2025Q1: 613,206 shares; 2025Q2: 641,684 shares; 2025Q3: 641,916 shares 641,916$42.3M7.94%+232Timeline
VALVALARIS LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 432,347 shares; 2024Q4: 426,608 shares; 2025Q1: 569,839 shares; 2025Q2: 585,921 shares; 2025Q3: 585,602 shares 585,602$30M5.63%-319Timeline
BNBROOKFIELD CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 454,794 shares; 2024Q4: 391,478 shares; 2025Q1: 378,249 shares; 2025Q2: 378,249 shares; 2025Q3: 378,249 shares 378,249$25.7M4.82%0Timeline
FPHFIVE POINT HOLDINGS LLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,310,930 shares; 2024Q4: 4,125,911 shares; 2025Q1: 4,125,911 shares; 2025Q2: 4,125,911 shares; 2025Q3: 4,113,917 shares 4,113,917$25.2M4.73%-11,994Timeline
CBRECBRE GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 183,011 shares; 2024Q4: 174,018 shares; 2025Q1: 165,109 shares; 2025Q2: 164,710 shares; 2025Q3: 154,672 shares 154,672$24.2M4.55%-10,038Timeline
BCCBOISE CASCADE CO DELQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 273,705 shares 273,705$21.2M3.98%newTimeline
LEN-BLENNAR CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 161,781 shares; 2024Q4: 161,781 shares; 2025Q1: 147,770 shares; 2025Q2: 148,033 shares; 2025Q3: 147,843 shares 147,843$18M3.39%-190Timeline
PLDPROLOGIS INC.Quarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 128,943 shares; 2024Q4: 128,943 shares; 2025Q1: 129,162 shares; 2025Q2: 145,522 shares; 2025Q3: 145,394 shares 145,394$16.9M3.18%-128Timeline
ROGROGERS CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 199,368 shares 199,368$16.3M3.06%newTimeline
JLLJONES LANG LASALLE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 51,990 shares; 2024Q4: 51,990 shares; 2025Q1: 51,990 shares; 2025Q2: 51,690 shares; 2025Q3: 51,619 shares 51,619$15.3M2.88%-71Timeline
DHID R HORTON INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 78,745 shares; 2024Q4: 78,745 shares; 2025Q1: 78,745 shares; 2025Q2: 78,189 shares; 2025Q3: 78,078 shares 78,078$13.5M2.53%-111Timeline
UHAL-BU HAUL HOLDING COMPANYQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 284,528 shares; 2024Q4: 249,865 shares; 2025Q1: 249,865 shares; 2025Q2: 259,510 shares; 2025Q3: 259,225 shares 259,225$13.3M2.49%-285Timeline
PHMPULTE GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 63,800 shares; 2025Q2: 96,931 shares; 2025Q3: 96,766 shares 96,766$13M2.44%-165Timeline
SUISUN CMNTYS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 107,795 shares; 2024Q4: 108,137 shares; 2025Q1: 90,715 shares; 2025Q2: 97,210 shares; 2025Q3: 96,786 shares 96,786$12.4M2.33%-424Timeline
UMBFUMB FINL CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 110,896 shares; 2024Q4: 102,796 shares; 2025Q1: 102,796 shares; 2025Q2: 102,763 shares; 2025Q3: 97,518 shares 97,518$11.5M2.17%-5,245Timeline
CMACOMERICA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 475,883 shares; 2024Q4: 302,881 shares; 2025Q1: 302,904 shares; 2025Q2: 171,210 shares; 2025Q3: 156,314 shares 156,314$10.8M2.03%-14,896Timeline
SUPNSUPERNUS PHARMACEUTICALSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 189,493 shares; 2024Q4: 189,493 shares; 2025Q1: 189,493 shares; 2025Q2: 189,493 shares; 2025Q3: 189,493 shares 189,493$9.1M1.71%0Timeline
PRAPROASSURANCE CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 563,988 shares; 2024Q4: 563,988 shares; 2025Q1: 563,988 shares; 2025Q2: 384,640 shares; 2025Q3: 364,013 shares 364,013$8.73M1.64%-20,627Timeline
SKYCHAMPION HOMES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 59,865 shares; 2025Q3: 106,409 shares 106,409$8.29M1.56%+46,544Timeline
BATRAATLANTA BRAVES HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 164,438 shares; 2024Q4: 164,438 shares; 2025Q1: 164,438 shares; 2025Q2: 164,438 shares; 2025Q3: 164,438 shares 164,438$7.42M1.39%0Timeline
MYRGMYR GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 72,797 shares; 2024Q4: 72,797 shares; 2025Q1: 72,797 shares; 2025Q2: 54,595 shares; 2025Q3: 35,554 shares 35,554$7.18M1.35%-19,041Timeline
FNFFIDELITY NATL FINL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 118,656 shares; 2024Q4: 118,656 shares; 2025Q1: 118,656 shares; 2025Q2: 118,656 shares; 2025Q3: 118,656 shares 118,656$7.16M1.34%0Timeline
COLLCOLLEGIUM PHARMACEUTICAL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 182,651 shares; 2024Q4: 203,401 shares; 2025Q1: 203,401 shares; 2025Q2: 203,401 shares; 2025Q3: 203,401 shares 203,401$7.15M1.34%0Timeline
KALUKAISER ALUMINIUM CORPORATIONQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 79,623 shares; 2024Q4: 79,623 shares; 2025Q1: 79,828 shares; 2025Q2: 89,535 shares; 2025Q3: 89,535 shares 89,535$7.01M1.32%0Timeline
ECPGENCORE CAP GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 171,022 shares; 2024Q4: 171,022 shares; 2025Q1: 171,022 shares; 2025Q2: 171,022 shares; 2025Q3: 171,022 shares 171,022$6.94M1.3%0Timeline
PBPROSPERITY BANCSHARES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 102,168 shares; 2024Q4: 102,168 shares; 2025Q1: 102,168 shares; 2025Q2: 102,168 shares; 2025Q3: 102,168 shares 102,168$6.84M1.28%0Timeline
AMHAMERICAN HOMES 4 RENTQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 321,221 shares; 2024Q4: 321,221 shares; 2025Q1: 192,560 shares; 2025Q2: 191,066 shares; 2025Q3: 191,066 shares 191,066$6.27M1.18%0Timeline
LXULSB INDS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 789,447 shares; 2024Q4: 789,447 shares; 2025Q1: 789,447 shares; 2025Q2: 789,447 shares; 2025Q3: 789,447 shares 789,447$6.13M1.15%0Timeline
ITICINVESTORS TITLE CO NCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 39,139 shares; 2024Q4: 39,139 shares; 2025Q1: 38,919 shares; 2025Q2: 35,752 shares; 2025Q3: 21,883 shares 21,883$5.88M1.1%-13,869Timeline
RYNRAYONIER INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 315,800 shares; 2024Q4: 315,800 shares; 2025Q1: 258,499 shares; 2025Q2: 258,129 shares; 2025Q3: 218,052 shares 218,052$5.87M1.1%-40,077Timeline
SBSISOUTHSIDE BANCSHARES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 209,426 shares; 2024Q4: 209,426 shares; 2025Q1: 209,426 shares; 2025Q2: 209,426 shares; 2025Q3: 209,426 shares 209,426$5.83M1.09%0Timeline
FRFIRST INDL RLTY TR INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 157,130 shares; 2024Q4: 157,130 shares; 2025Q1: 134,558 shares; 2025Q2: 132,663 shares; 2025Q3: 106,342 shares 106,342$5.54M1.04%-26,321Timeline
TPHTRI POINTE HOMES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 155,830 shares; 2024Q4: 155,830 shares; 2025Q1: 155,830 shares; 2025Q2: 155,830 shares; 2025Q3: 155,855 shares 155,855$5.34M1%+25Timeline
CETCENTRAL SECS CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 111,210 shares; 2024Q4: 111,210 shares; 2025Q1: 111,210 shares; 2025Q2: 101,812 shares; 2025Q3: 101,812 shares 101,812$5.22M0.98%0Timeline
OSGOCTAVE SPECIALTY GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 230,416 shares; 2025Q1: 366,461 shares; 2025Q2: 603,391 shares; 2025Q3: 603,391 shares 603,391$4.91M0.92%0Timeline
ICFIICF INTL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 44,188 shares; 2024Q4: 44,188 shares; 2025Q1: 47,024 shares; 2025Q2: 47,024 shares; 2025Q3: 47,024 shares 47,024$4.44M0.83%0Timeline
UNFUNIFIRST CORP MASSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 23,356 shares; 2024Q4: 23,356 shares; 2025Q1: 23,356 shares; 2025Q2: 23,356 shares; 2025Q3: 25,929 shares 25,929$4.31M0.81%+2,573Timeline
FRPHFRP HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 252,952 shares; 2024Q4: 252,952 shares; 2025Q1: 252,952 shares; 2025Q2: 211,440 shares; 2025Q3: 178,530 shares 178,530$4.29M0.81%-32,910Timeline
WCCWESCO INTL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 14,739 shares; 2024Q4: 14,739 shares; 2025Q1: 14,822 shares; 2025Q2: 20,093 shares; 2025Q3: 20,093 shares 20,093$4.27M0.8%0Timeline
WYWEYERHAEUSER COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 308,007 shares; 2024Q4: 220,849 shares; 2025Q1: 220,849 shares; 2025Q2: 220,849 shares; 2025Q3: 161,920 shares 161,920$4.04M0.76%-58,929Timeline
PBFPBF ENERGY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 85,958 shares; 2024Q4: 131,050 shares; 2025Q1: 131,050 shares; 2025Q2: 131,050 shares; 2025Q3: 131,050 shares 131,050$3.92M0.74%0Timeline
CTLPCANTALOUPE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 370,013 shares; 2025Q3: 370,013 shares 370,013$3.91M0.73%0Timeline
SDSANDRIDGE ENERGY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 280,554 shares; 2024Q4: 330,698 shares; 2025Q1: 330,698 shares; 2025Q2: 330,698 shares; 2025Q3: 330,698 shares 330,698$3.87M0.73%0Timeline
SEBSEABOARD CORP DELQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,334 shares; 2024Q4: 2,334 shares; 2025Q1: 1,319 shares; 2025Q2: 1,015 shares; 2025Q3: 1,015 shares 1,015$3.76M0.71%0Timeline
BXCBLUELINX HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 29,869 shares; 2025Q2: 46,357 shares; 2025Q3: 46,357 shares 46,357$3.42M0.64%0Timeline
OCFCOCEANFIRST FINL CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 60,859 shares; 2025Q1: 116,643 shares; 2025Q2: 162,238 shares; 2025Q3: 162,331 shares 162,331$2.82M0.53%+93Timeline
ALGALAMO GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 31,880 shares; 2024Q4: 31,880 shares; 2025Q1: 25,546 shares; 2025Q2: 14,869 shares; 2025Q3: 14,869 shares 14,869$2.81M0.53%0Timeline
VCVISTEON CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 10,298 shares; 2025Q3: 10,298 shares 10,298$1.25M0.23%0Timeline
BATRKATLANTA BRAVES HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 26,104 shares; 2024Q4: 26,104 shares; 2025Q1: 26,104 shares; 2025Q2: 26,104 shares; 2025Q3: 26,104 shares 26,104$1.07M0.2%0Timeline

Sold out in Q3 2025

Positions in the previous quarter's report that this quarter's report no longer lists.

SecurityShares beforeValue beforeType
DBDEUTSCHE BK AG1,021,558$30.2Mshares
ORIOLD REP INTL CORP98,535$3.79Mshares
HBBHAMILTON BEACH BRANDS HLDG C131,461$2.35Mshares
MRPMILLROSE PPTYS INC50,697$1.45Mshares

How Q3 2025 was built

Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).

FilingRoleAmendmentFiledAcceptedIngested
13F-HR 0001099281-25-000017 base2025-11-14acceptance time not in the bulk data set