# Third Avenue Management portfolio: Q2 2026 13F holdings

Matthew Fine’s Third Avenue Management: $625m in 54 US holdings at Q2 2026, with buys and sells.

In Q2 2026, Third Avenue Management held 54 US-listed stocks worth $625m. Its biggest move was adding to Tidewater (1% more shares, now 9.9%), followed by adding to Robert Half (34% more shares, now 5.9%). It started 4 new positions and sold out of 2. Its largest holding is Tidewater at 9.9%.

13F for the quarter ending 2026-06-30, filed 2026-08-12 ([filing](https://www.sec.gov/Archives/edgar/data/1099281/000109928126000008/0001099281-26-000008-index.htm)). $625m in US-listed holdings.

## 13F holdings

| Company | Value | Portfolio | Change | Q1 2026 |
| --- | --- | --- | --- | --- |
| Tidewater (TDW) | $62.2m | 9.9% | Added +1.4% | 12.5% |
| Boise Cascade (BCC) | $46.7m | 7.5% | Added +7.1% | 6.9% |
| Valaris (VAL) | $37.5m | 6.0% | Added +1.6% | 8.1% |
| Robert Half (RHI) | $37.1m | 5.9% | Added +34% | 3.7% |
| Harley-Davidson (HOG) | $36.2m | 5.8% | Added +1.2% | 4.8% |
| Warrior Met Coal (HCC) | $23.2m | 3.7% | Trimmed -22% | 5.5% |
| Five Point Holdings (FPH) | $19.5m | 3.1% | Trimmed -4.3% | 3.0% |
| CBRE Group (CBRE) | $18.3m | 2.9% | Trimmed -0.3% | 3.0% |
| Brookfield (BN) | $16.8m | 2.7% | Trimmed -18% | 3.2% |
| U Haul Holding Company (UHAL) | $16.4m | 2.6% | Trimmed -0.2% | 2.1% |
| Prologis (PLD) | $14.2m | 2.3% | Trimmed -17% | 2.7% |
| Lennar (LEN) | $13.3m | 2.1% | Added +4.8% | 1.9% |
| PulteGroup (PHM) | $13.1m | 2.1% | Trimmed 0.0% | 1.8% |
| Encore Capital Group (ECPG) | $12.1m | 1.9% | Trimmed -9.0% | 1.6% |
| D.R. Horton (DHI) | $11.3m | 1.8% | Trimmed -6.3% | 1.6% |
| UMB Financial (UMBF) | $11.2m | 1.8% | Unchanged | 1.4% |
| Sun Communities (SUI) | $11.0m | 1.8% | Trimmed 0.0% | 1.9% |
| Rogers (ROG) | $10.1m | 1.6% | Trimmed -59% | 2.6% |
| Jones Lang LaSalle (JLL) | $9.9m | 1.6% | Trimmed -1.1% | 1.6% |
| Fidelity National Financial (FNF) | $9.1m | 1.5% | Trimmed -0.2% | 1.5% |
| Champion Homes (SKY) | $8.9m | 1.4% | Trimmed -0.2% | 1.2% |
| FirstService (FSV) | $8.8m | 1.4% | Added +23% | 1.1% |
| American Homes 4 Rent (AMH) | $8.8m | 1.4% | Trimmed -0.2% | 1.2% |
| Octave Specialty Group (OSG) | $8.4m | 1.3% | Added 0.0% | 1.0% |
| Brookdale Senior Living (BKD) | $8.0m | 1.3% | Added +6.7% | 1.0% |
| Atlanta Braves Holdings (BATRK) | $7.7m | 1.2% | Trimmed -28% | 1.4% |
| Prosperity Bancshares (PB) | $7.5m | 1.2% | Unchanged | 1.1% |
| ICF International (ICFI) | $7.2m | 1.1% | Added +38% | 0.8% |
| Supernus Pharmaceuticals (SUPN) | $7.1m | 1.1% | Unchanged | 1.3% |
| Alamo Group (ALG) | $7.0m | 1.1% | Added +23% | 0.9% |
| Collegium Pharmaceutical (COLL) | $6.6m | 1.1% | Added +18% | 0.8% |
| Catalyst Pharmaceuticals (CPRX) | $6.6m | 1.1% | Unchanged | 0.8% |
| MYR Group (MYRG) | $6.5m | 1.1% | Trimmed -55% | 1.3% |
| Taylor Morrison Home (TMHC) | $6.2m | 1.0% | New | – |
| Investors Title (ITIC) | $6.0m | 1.0% | Unchanged | 0.8% |
| PBF Energy (PBF) | $6.0m | 0.9% | Unchanged | 1.0% |
| WESCO International (WCC) | $5.9m | 0.9% | Trimmed -12% | 0.8% |
| Kaiser Aluminum (KALU) | $5.8m | 0.9% | Trimmed -0.1% | 0.6% |
| UniFirst (UNF) | $5.5m | 0.9% | Trimmed -27% | 1.2% |
| Qualys (QLYS) | $5.4m | 0.9% | Unchanged | 0.6% |
| Central Securities (CET) | $5.3m | 0.8% | Unchanged | 0.8% |
| Flagstar Financial (FLG) | $4.9m | 0.8% | Unchanged | 0.7% |
| SandRidge Energy (SD) | $4.8m | 0.8% | Added +6.6% | 0.9% |
| OceanFirst Financial (OCFC) | $4.8m | 0.8% | Unchanged | 0.7% |
| First Industrial Realty Trust (FR) | $4.8m | 0.8% | Trimmed -4.3% | 0.8% |
| LSB Industries (LXU) | $4.1m | 0.7% | Unchanged | 0.9% |
| Southside Bancshares (SBSI) | $4.1m | 0.7% | Unchanged | 0.6% |
| BlueLinx Holdings (BXC) | $4.0m | 0.6% | Unchanged | 0.6% |
| Maximus (MMS) | $4.0m | 0.6% | New | – |
| Hongkong Land Holdings (HKHGF) | $3.9m | 0.6% | New | – |
| Weyerhaeuser (WY) | $3.9m | 0.6% | Trimmed -0.2% | 0.6% |
| Cra International (CRAI) | $3.0m | 0.5% | New | – |
| FRP Holdings (FRPH) | $2.7m | 0.4% | Unchanged | 0.4% |
| Compass (COMP) | $2.3m | 0.4% | Unchanged | 0.2% |
| Tri Pointe Homes (T86) | – | – | Sold out | 1.2% |
| Proassurance (PRA) | – | – | Sold out | 1.1% |

## Third Avenue Value Fund (as at 2026-07-31)

| Company | Country | Fund weight | Change |
| --- | --- | --- | --- |
| Tidewater (TDW) | US | 5.1% | Unchanged |
| Easyjet (EZJ) | GB | 4.4% | Added +11% |
| Ultrapar Participacoes (UGPA3) | BR | 4.3% | Unchanged |
| Ck Hutchison Holdings (1) | KY | 3.9% | Unchanged |
| Bayerische Motoren Werke (BMW) | DE | 3.8% | Added +32% |
| Subaru (7270) | JP | 3.8% | Added +9.0% |
| Lundin Mining (LUN) | CA | 3.8% | Unchanged |
| Jeol (6951) | JP | 3.6% | Unchanged |
| Boise Cascade Company (BCC) | US | 3.5% | Added +9.1% |
| Capstone Copper (CS) | CA | 3.4% | Unchanged |
| Valaris (VAL) | BM | 3.3% | Unchanged |
| Subsea 7 (SUBC) | LU | 3.3% | Unchanged |
| Robert Half (RHI) | US | 3.3% | Added +5.9% |
| Buzzi (BZU) | IT | 3.3% | Added +22% |
| Bank of Ireland Group (BIRG) | IE | 3.2% | Unchanged |
| Horiba (6856) | JP | 2.8% | Trimmed -11% |
| thyssenkrupp (TKA) | DE | 2.8% | New |
| Harbour Energy (HBR) | GB | 2.7% | Added +4.8% |
| Harley-Davidson (HOG) | US | 2.5% | Unchanged |
| Close Brothers Group (CBG) | GB | 2.5% | Added +9.5% |
| Taiheiyo Cement (5233) | JP | 2.4% | Unchanged |
| Jardine Cycle & Carriage (JCNC) | SG | 2.3% | Unchanged |
| Conduit Holdings (CRE) | BM | 2.2% | Added +2.2% |
| Genting Singapore (GENS) | SG | 2.2% | Added +28% |
| S4 Capital (SFOR) | GB | 2.1% | Unchanged |
| Warrior Met Coal (HCC) | US | 1.8% | Trimmed -7.7% |
| Misto Holdings (081660) | KR | 1.6% | Unchanged |
| Quinenco (QUINENC) | CL | 1.6% | Unchanged |
| Osaka Titanium Technologies Company (5726) | JP | 1.6% | Added +11% |
| Bolsa Mexicana de Valores (BOLSAA) | MX | 1.6% | Added +45% |
| T.s. Lines (2510) | HK | 1.5% | Unchanged |
| Interfor (IFP) | CA | 1.3% | Added +16% |
| Rogers (ROG) | US | 0.2% | Trimmed -77% |
| null |  | – | Sold out |
| null |  | – | Sold out |
| null |  | – | Sold out |

## Third Avenue Small-Cap Value Fund (as at 2026-07-31)

| Company | Country | Fund weight | Change |
| --- | --- | --- | --- |
| Encore Capital Group (ECPG) | US | 5.6% | Unchanged |
| Umb Financial (UMBF) | US | 5.2% | Unchanged |
| PBF Energy (PBF) | US | 4.5% | Added +2.7% |
| Icf International (ICFI) | US | 3.8% | Added +15% |
| Tidewater (TDW) | US | 3.6% | Added +3.0% |
| Prosperity Bancshares (PB) | US | 3.5% | Unchanged |
| Octave Specialty Group (OSG) | US | 3.3% | Unchanged |
| Collegium Pharmaceutical (COLL) | US | 3.3% | Added +12% |
| Supernus Pharmaceuticals (SUPN) | US | 3.2% | Added +2.9% |
| Alamo Group (ALG) | US | 3.2% | Added +27% |
| Investors Title (ITIC) | US | 3.0% | Added +3.5% |
| Atlanta Braves Holdings (BATRA) | US | 2.8% | Unchanged |
| Unifirst (UNF) | US | 2.8% | Unchanged |
| Maximus (MMS) | US | 2.8% | Added +66% |
| Qualys (QLYS) | US | 2.7% | Added +3.4% |
| Sandridge Energy (SD) | US | 2.6% | Added +22% |
| Robert Half (RHI) | US | 2.6% | Added +4.5% |
| Central Securities (CET) | US | 2.5% | Unchanged |
| Five Point Holdings (FPH) | US | 2.5% | Added +8.8% |
| Harley-Davidson (HOG) | US | 2.5% | Added +4.0% |
| Oceanfirst Financial (OCFC) | US | 2.3% | Added +4.5% |
| Flagstar Bank Na (FLG) | US | 2.3% | Added +4.4% |
| Lsb Industries (LXU) | US | 2.2% | Added +16% |
| Kaiser Aluminum (KALU) | US | 2.2% | Unchanged |
| Boise Cascade Company (BCC) | US | 2.1% | Added +18% |
| Myr Group (MYRG) | US | 1.9% | Trimmed -20% |
| Cra International (CRAI) | US | 1.8% | New |
| Southside Bancshares (SBSI) | US | 1.8% | Unchanged |
| Champion Homes (SKY) | US | 1.5% | New |
| Rogers (ROG) | US | 1.4% | Unchanged |
| Frp Holdings (FRPH) | US | 1.1% | Unchanged |
| Compass (COMP) | US | 1.0% | Unchanged |
| Atlanta Braves Holdings (BATRK) | US | 0.6% | Unchanged |
| null |  | – | Sold out |
| null |  | – | Sold out |
| null |  | – | Sold out |
| null |  | – | Sold out |

Source: SEC filings, via moatshark (https://www.moatshark.com/m/third-avenue-management). Values traded and returns are estimates. Not investment advice. Built 2026-10-21.