{
 "manager": "Third Avenue Management",
 "page": "https://www.moatshark.com/m/third-avenue-management",
 "form": "13F-HR",
 "period": "2026-06-30",
 "filed": "2026-08-12",
 "previous_period": "2026-03-31",
 "filing_url": "https://www.sec.gov/Archives/edgar/data/1099281/000109928126000008/0001099281-26-000008-index.htm",
 "total_value_usd": 625342172,
 "note": "Source: SEC filings via moatshark. Values and changes are estimates; not investment advice.",
 "holdings": [
  {
   "company": "Tidewater",
   "ticker": "TDW",
   "moatshark_slug": "tdw",
   "sector": "Industrials",
   "value_usd": 62240482,
   "shares": 934121,
   "portfolio_pct": 9.95,
   "previous_pct": 12.49,
   "change": "ADD",
   "share_change_pct": 1.4,
   "quarters_held": 36
  },
  {
   "company": "Boise Cascade",
   "ticker": "BCC",
   "moatshark_slug": "bcc",
   "sector": "Industrials",
   "value_usd": 46739936,
   "shares": 602086,
   "portfolio_pct": 7.47,
   "previous_pct": 6.92,
   "change": "ADD",
   "share_change_pct": 7.1,
   "quarters_held": 4
  },
  {
   "company": "Valaris",
   "ticker": "VAL",
   "moatshark_slug": "val",
   "sector": "Energy",
   "value_usd": 37484324,
   "shares": 516313,
   "portfolio_pct": 5.99,
   "previous_pct": 8.09,
   "change": "ADD",
   "share_change_pct": 1.6,
   "quarters_held": 20
  },
  {
   "company": "Robert Half",
   "ticker": "RHI",
   "moatshark_slug": "rhi",
   "sector": "Industrials",
   "value_usd": 37095915,
   "shares": 1208336,
   "portfolio_pct": 5.93,
   "previous_pct": 3.73,
   "change": "ADD",
   "share_change_pct": 33.7,
   "quarters_held": 2
  },
  {
   "company": "Harley-Davidson",
   "ticker": "HOG",
   "moatshark_slug": "hog",
   "sector": "Industrials",
   "value_usd": 36222325,
   "shares": 1480880,
   "portfolio_pct": 5.79,
   "previous_pct": 4.8,
   "change": "ADD",
   "share_change_pct": 1.2,
   "quarters_held": 2
  },
  {
   "company": "Warrior Met Coal",
   "ticker": "HCC",
   "moatshark_slug": "hcc",
   "sector": "Materials",
   "value_usd": 23162902,
   "shares": 285398,
   "portfolio_pct": 3.7,
   "previous_pct": 5.5,
   "change": "REDUCE",
   "share_change_pct": -21.6,
   "quarters_held": 35
  },
  {
   "company": "Five Point Holdings",
   "ticker": "FPH",
   "moatshark_slug": "fph",
   "sector": "Real estate",
   "value_usd": 19478737,
   "shares": 3696155,
   "portfolio_pct": 3.11,
   "previous_pct": 3.03,
   "change": "REDUCE",
   "share_change_pct": -4.3,
   "quarters_held": 37
  },
  {
   "company": "CBRE Group",
   "ticker": "CBRE",
   "moatshark_slug": "cbre",
   "sector": "Real estate",
   "value_usd": 18303832,
   "shares": 135896,
   "portfolio_pct": 2.93,
   "previous_pct": 3,
   "change": "REDUCE",
   "share_change_pct": -0.3,
   "quarters_held": 26
  },
  {
   "company": "Brookfield",
   "ticker": "BN",
   "moatshark_slug": "bn",
   "sector": "Real estate",
   "value_usd": 16820026,
   "shares": 394929,
   "portfolio_pct": 2.69,
   "previous_pct": 3.16,
   "change": "REDUCE",
   "share_change_pct": -18,
   "quarters_held": 15
  },
  {
   "company": "U Haul Holding Company",
   "ticker": "UHAL",
   "moatshark_slug": "uhal",
   "sector": "Other",
   "value_usd": 16379414,
   "shares": 283872,
   "portfolio_pct": 2.62,
   "previous_pct": 2.06,
   "change": "REDUCE",
   "share_change_pct": -0.2,
   "quarters_held": 15
  },
  {
   "company": "Prologis",
   "ticker": "PLD",
   "moatshark_slug": "pld",
   "sector": "Financials",
   "value_usd": 14200372,
   "shares": 104823,
   "portfolio_pct": 2.27,
   "previous_pct": 2.7,
   "change": "REDUCE",
   "share_change_pct": -16.8,
   "quarters_held": 26
  },
  {
   "company": "Lennar",
   "ticker": "LEN",
   "moatshark_slug": "len",
   "sector": "Consumer discretionary",
   "value_usd": 13276161,
   "shares": 149658,
   "portfolio_pct": 2.12,
   "previous_pct": 1.95,
   "change": "ADD",
   "share_change_pct": 4.8,
   "quarters_held": 39
  },
  {
   "company": "PulteGroup",
   "ticker": "PHM",
   "moatshark_slug": "phm",
   "sector": "Consumer discretionary",
   "value_usd": 13050180,
   "shares": 95111,
   "portfolio_pct": 2.09,
   "previous_pct": 1.82,
   "change": "REDUCE",
   "share_change_pct": 0,
   "quarters_held": 6
  },
  {
   "company": "Encore Capital Group",
   "ticker": "ECPG",
   "moatshark_slug": "ecpg",
   "sector": "Financials",
   "value_usd": 12101299,
   "shares": 129717,
   "portfolio_pct": 1.94,
   "previous_pct": 1.62,
   "change": "REDUCE",
   "share_change_pct": -9,
   "quarters_held": 15
  },
  {
   "company": "D.R. Horton",
   "ticker": "DHI",
   "moatshark_slug": "dhi",
   "sector": "Consumer discretionary",
   "value_usd": 11272110,
   "shares": 69205,
   "portfolio_pct": 1.8,
   "previous_pct": 1.64,
   "change": "REDUCE",
   "share_change_pct": -6.3,
   "quarters_held": 18
  },
  {
   "company": "UMB Financial",
   "ticker": "UMBF",
   "moatshark_slug": "umbf",
   "sector": "Financials",
   "value_usd": 11170256,
   "shares": 78245,
   "portfolio_pct": 1.79,
   "previous_pct": 1.43,
   "change": "HOLD",
   "share_change_pct": 0,
   "quarters_held": 53
  },
  {
   "company": "Sun Communities",
   "ticker": "SUI",
   "moatshark_slug": "sui",
   "sector": "Financials",
   "value_usd": 10966249,
   "shares": 91454,
   "portfolio_pct": 1.75,
   "previous_pct": 1.87,
   "change": "REDUCE",
   "share_change_pct": 0,
   "quarters_held": 13
  },
  {
   "company": "Rogers",
   "ticker": "ROG",
   "moatshark_slug": "rog",
   "sector": "Materials",
   "value_usd": 10083148,
   "shares": 61584,
   "portfolio_pct": 1.61,
   "previous_pct": 2.63,
   "change": "REDUCE",
   "share_change_pct": -59.2,
   "quarters_held": 4
  },
  {
   "company": "Jones Lang LaSalle",
   "ticker": "JLL",
   "moatshark_slug": "jll",
   "sector": "Real estate",
   "value_usd": 9934827,
   "shares": 32053,
   "portfolio_pct": 1.59,
   "previous_pct": 1.6,
   "change": "REDUCE",
   "share_change_pct": -1.1,
   "quarters_held": 14
  },
  {
   "company": "Fidelity National Financial",
   "ticker": "FNF",
   "moatshark_slug": "fnf",
   "sector": "Insurance",
   "value_usd": 9107492,
   "shares": 193119,
   "portfolio_pct": 1.46,
   "previous_pct": 1.46,
   "change": "REDUCE",
   "share_change_pct": -0.2,
   "quarters_held": 42
  },
  {
   "company": "Champion Homes",
   "ticker": "SKY",
   "moatshark_slug": "sky",
   "sector": "Other",
   "value_usd": 8862757,
   "shares": 100576,
   "portfolio_pct": 1.42,
   "previous_pct": 1.22,
   "change": "REDUCE",
   "share_change_pct": -0.2,
   "quarters_held": 5
  },
  {
   "company": "FirstService",
   "ticker": "FSV",
   "moatshark_slug": "fsv",
   "sector": "Real estate",
   "value_usd": 8803857,
   "shares": 61951,
   "portfolio_pct": 1.41,
   "previous_pct": 1.14,
   "change": "ADD",
   "share_change_pct": 22.8,
   "quarters_held": 3
  },
  {
   "company": "American Homes 4 Rent",
   "ticker": "AMH",
   "moatshark_slug": "amh",
   "sector": "Financials",
   "value_usd": 8784184,
   "shares": 262058,
   "portfolio_pct": 1.4,
   "previous_pct": 1.19,
   "change": "REDUCE",
   "share_change_pct": -0.2,
   "quarters_held": 25
  },
  {
   "company": "Octave Specialty Group",
   "ticker": "OSG",
   "moatshark_slug": "osg",
   "sector": "Insurance",
   "value_usd": 8373325,
   "shares": 1341879,
   "portfolio_pct": 1.34,
   "previous_pct": 1.01,
   "change": "ADD",
   "share_change_pct": 0,
   "quarters_held": 7
  },
  {
   "company": "Brookdale Senior Living",
   "ticker": "BKD",
   "moatshark_slug": "bkd",
   "sector": "Health care",
   "value_usd": 7961750,
   "shares": 494826,
   "portfolio_pct": 1.27,
   "previous_pct": 1.03,
   "change": "ADD",
   "share_change_pct": 6.7,
   "quarters_held": 2
  },
  {
   "company": "Atlanta Braves Holdings",
   "ticker": "BATRK",
   "moatshark_slug": "batrk",
   "sector": "Consumer discretionary",
   "value_usd": 7650764,
   "shares": 137907,
   "portfolio_pct": 1.22,
   "previous_pct": 1.44,
   "change": "REDUCE",
   "share_change_pct": -27.6,
   "quarters_held": 12
  },
  {
   "company": "Prosperity Bancshares",
   "ticker": "PB",
   "moatshark_slug": "pb",
   "sector": "Financials",
   "value_usd": 7461329,
   "shares": 102168,
   "portfolio_pct": 1.19,
   "previous_pct": 1.11,
   "change": "HOLD",
   "share_change_pct": 0,
   "quarters_held": 50
  },
  {
   "company": "ICF International",
   "ticker": "ICFI",
   "moatshark_slug": "icfi",
   "sector": "Industrials",
   "value_usd": 7205344,
   "shares": 98893,
   "portfolio_pct": 1.15,
   "previous_pct": 0.76,
   "change": "ADD",
   "share_change_pct": 37.9,
   "quarters_held": 53
  },
  {
   "company": "Supernus Pharmaceuticals",
   "ticker": "SUPN",
   "moatshark_slug": "supn",
   "sector": "Health care",
   "value_usd": 7103193,
   "shares": 152724,
   "portfolio_pct": 1.14,
   "previous_pct": 1.28,
   "change": "HOLD",
   "share_change_pct": 0,
   "quarters_held": 17
  },
  {
   "company": "Alamo Group",
   "ticker": "ALG",
   "moatshark_slug": "alg",
   "sector": "Industrials",
   "value_usd": 6952170,
   "shares": 42265,
   "portfolio_pct": 1.11,
   "previous_pct": 0.92,
   "change": "ADD",
   "share_change_pct": 23.1,
   "quarters_held": 53
  },
  {
   "company": "Collegium Pharmaceutical",
   "ticker": "COLL",
   "moatshark_slug": "coll",
   "sector": "Health care",
   "value_usd": 6611749,
   "shares": 182645,
   "portfolio_pct": 1.06,
   "previous_pct": 0.83,
   "change": "ADD",
   "share_change_pct": 17.7,
   "quarters_held": 11
  },
  {
   "company": "Catalyst Pharmaceuticals",
   "ticker": "CPRX",
   "moatshark_slug": "cprx",
   "sector": null,
   "value_usd": 6605360,
   "shares": 210161,
   "portfolio_pct": 1.06,
   "previous_pct": 0.84,
   "change": "HOLD",
   "share_change_pct": 0,
   "quarters_held": 2
  },
  {
   "company": "MYR Group",
   "ticker": "MYRG",
   "moatshark_slug": "myrg",
   "sector": "Industrials",
   "value_usd": 6538226,
   "shares": 13066,
   "portfolio_pct": 1.05,
   "previous_pct": 1.32,
   "change": "REDUCE",
   "share_change_pct": -54.7,
   "quarters_held": 43
  },
  {
   "company": "Taylor Morrison Home",
   "ticker": "TMHC",
   "moatshark_slug": "tmhc",
   "sector": null,
   "value_usd": 6165407,
   "shares": 85941,
   "portfolio_pct": 0.99,
   "previous_pct": null,
   "change": "NEW",
   "share_change_pct": null,
   "quarters_held": 1
  },
  {
   "company": "Investors Title",
   "ticker": "ITIC",
   "moatshark_slug": "itic",
   "sector": "Insurance",
   "value_usd": 5991950,
   "shares": 21894,
   "portfolio_pct": 0.96,
   "previous_pct": 0.77,
   "change": "HOLD",
   "share_change_pct": 0,
   "quarters_held": 13
  },
  {
   "company": "PBF Energy",
   "ticker": "PBF",
   "moatshark_slug": "pbf",
   "sector": "Energy",
   "value_usd": 5965396,
   "shares": 131050,
   "portfolio_pct": 0.95,
   "previous_pct": 1.01,
   "change": "HOLD",
   "share_change_pct": 0,
   "quarters_held": 8
  },
  {
   "company": "WESCO International",
   "ticker": "WCC",
   "moatshark_slug": "wcc",
   "sector": "Industrials",
   "value_usd": 5859529,
   "shares": 16963,
   "portfolio_pct": 0.94,
   "previous_pct": 0.85,
   "change": "REDUCE",
   "share_change_pct": -11.8,
   "quarters_held": 9
  },
  {
   "company": "Kaiser Aluminum",
   "ticker": "KALU",
   "moatshark_slug": "kalu",
   "sector": "Materials",
   "value_usd": 5839164,
   "shares": 29848,
   "portfolio_pct": 0.93,
   "previous_pct": 0.58,
   "change": "REDUCE",
   "share_change_pct": -0.1,
   "quarters_held": 53
  },
  {
   "company": "UniFirst",
   "ticker": "UNF",
   "moatshark_slug": "unf",
   "sector": "Other",
   "value_usd": 5501297,
   "shares": 20802,
   "portfolio_pct": 0.88,
   "previous_pct": 1.16,
   "change": "REDUCE",
   "share_change_pct": -26.8,
   "quarters_held": 53
  },
  {
   "company": "Qualys",
   "ticker": "QLYS",
   "moatshark_slug": "qlys",
   "sector": "Technology",
   "value_usd": 5378609,
   "shares": 39120,
   "portfolio_pct": 0.86,
   "previous_pct": 0.56,
   "change": "HOLD",
   "share_change_pct": 0,
   "quarters_held": 2
  },
  {
   "company": "Central Securities",
   "ticker": "CET",
   "moatshark_slug": "cet",
   "sector": "Other",
   "value_usd": 5340039,
   "shares": 101812,
   "portfolio_pct": 0.85,
   "previous_pct": 0.82,
   "change": "HOLD",
   "share_change_pct": 0,
   "quarters_held": 26
  },
  {
   "company": "Flagstar Financial",
   "ticker": "FLG",
   "moatshark_slug": "nycb",
   "sector": "Financials",
   "value_usd": 4948741,
   "shares": 331241,
   "portfolio_pct": 0.79,
   "previous_pct": 0.71,
   "change": "HOLD",
   "share_change_pct": 0,
   "quarters_held": 3
  },
  {
   "company": "SandRidge Energy",
   "ticker": "SD",
   "moatshark_slug": "sd",
   "sector": "Energy",
   "value_usd": 4830045,
   "shares": 352558,
   "portfolio_pct": 0.77,
   "previous_pct": 0.88,
   "change": "ADD",
   "share_change_pct": 6.6,
   "quarters_held": 8
  },
  {
   "company": "OceanFirst Financial",
   "ticker": "OCFC",
   "moatshark_slug": "ocfc",
   "sector": "Financials",
   "value_usd": 4817309,
   "shares": 246662,
   "portfolio_pct": 0.77,
   "previous_pct": 0.72,
   "change": "HOLD",
   "share_change_pct": 0,
   "quarters_held": 7
  },
  {
   "company": "First Industrial Realty Trust",
   "ticker": "FR",
   "moatshark_slug": "fr",
   "sector": "Financials",
   "value_usd": 4751402,
   "shares": 77498,
   "portfolio_pct": 0.76,
   "previous_pct": 0.76,
   "change": "REDUCE",
   "share_change_pct": -4.3,
   "quarters_held": 53
  },
  {
   "company": "LSB Industries",
   "ticker": "LXU",
   "moatshark_slug": "lxu",
   "sector": "Materials",
   "value_usd": 4119648,
   "shares": 381096,
   "portfolio_pct": 0.66,
   "previous_pct": 0.92,
   "change": "HOLD",
   "share_change_pct": 0,
   "quarters_held": 12
  },
  {
   "company": "Southside Bancshares",
   "ticker": "SBSI",
   "moatshark_slug": "sbsi",
   "sector": "Financials",
   "value_usd": 4112972,
   "shares": 116879,
   "portfolio_pct": 0.66,
   "previous_pct": 0.59,
   "change": "HOLD",
   "share_change_pct": 0,
   "quarters_held": 44
  },
  {
   "company": "BlueLinx Holdings",
   "ticker": "BXC",
   "moatshark_slug": "bxc",
   "sector": "Industrials",
   "value_usd": 3983154,
   "shares": 64369,
   "portfolio_pct": 0.64,
   "previous_pct": 0.57,
   "change": "HOLD",
   "share_change_pct": 0,
   "quarters_held": 6
  },
  {
   "company": "Maximus",
   "ticker": "MMS",
   "moatshark_slug": "mms",
   "sector": "Industrials",
   "value_usd": 3982810,
   "shares": 74085,
   "portfolio_pct": 0.64,
   "previous_pct": null,
   "change": "NEW",
   "share_change_pct": null,
   "quarters_held": 1
  },
  {
   "company": "Hongkong Land Holdings",
   "ticker": "HKHGF",
   "moatshark_slug": "hkhgf",
   "sector": null,
   "value_usd": 3918136,
   "shares": 550300,
   "portfolio_pct": 0.63,
   "previous_pct": null,
   "change": "NEW",
   "share_change_pct": null,
   "quarters_held": 1
  },
  {
   "company": "Weyerhaeuser",
   "ticker": "WY",
   "moatshark_slug": "wy",
   "sector": "Financials",
   "value_usd": 3880602,
   "shares": 162097,
   "portfolio_pct": 0.62,
   "previous_pct": 0.64,
   "change": "REDUCE",
   "share_change_pct": -0.2,
   "quarters_held": 53
  },
  {
   "company": "Cra International",
   "ticker": "CRAI",
   "moatshark_slug": "crai",
   "sector": "Other",
   "value_usd": 2962544,
   "shares": 20819,
   "portfolio_pct": 0.47,
   "previous_pct": null,
   "change": "NEW",
   "share_change_pct": null,
   "quarters_held": 1
  },
  {
   "company": "FRP Holdings",
   "ticker": "FRPH",
   "moatshark_slug": "frph",
   "sector": "Real estate",
   "value_usd": 2677928,
   "shares": 107160,
   "portfolio_pct": 0.43,
   "previous_pct": 0.38,
   "change": "HOLD",
   "share_change_pct": 0,
   "quarters_held": 34
  },
  {
   "company": "Compass",
   "ticker": "COMP",
   "moatshark_slug": "comp",
   "sector": "Real estate",
   "value_usd": 2311493,
   "shares": 187469,
   "portfolio_pct": 0.37,
   "previous_pct": 0.22,
   "change": "HOLD",
   "share_change_pct": 0,
   "quarters_held": 2
  },
  {
   "company": "Tri Pointe Homes",
   "ticker": "T86",
   "moatshark_slug": "t86",
   "sector": null,
   "value_usd": 0,
   "shares": 0,
   "portfolio_pct": 0,
   "previous_pct": 1.18,
   "change": "EXIT",
   "share_change_pct": null,
   "quarters_held": 37
  },
  {
   "company": "Proassurance",
   "ticker": "PRA",
   "moatshark_slug": "pra",
   "sector": null,
   "value_usd": 0,
   "shares": 0,
   "portfolio_pct": 0,
   "previous_pct": 1.05,
   "change": "EXIT",
   "share_change_pct": null,
   "quarters_held": 22
  }
 ]
}