THIRD AVENUE MANAGEMENT LLC

Q3 2025 13F-HR Holdings

Location
New York, NY
Holdings as of
9/30/2025
Date filed
11/14/2025
Form type
13F-HR
Num holdings
50
Total value ($000)
$532,679
Net value change ($000)
+47,753 (9.8%)
New positions
2
Sold out positions
4
Turnover %
14.1%
Sector allocation + QoQ delta (equities-only)
Prev filing: 8/13/2025 Next filing: 2/12/2026 SEC filing

Snapshot: Change Analysis

Compared to Q2 2025
Methodology: sector metrics are equities-only; instrument mix chart is ex-options; options exposure is shown separately. Why this matters.
Top Adds (Value $000, Stocks/ETFs)
BCC 21,179 NEW
ROG 16,314 NEW
HCC 12,907 43.9%
TDW 7,561 18.7%
VAL 5,322 21.6%
SKY 4,539 121.1%
DHI 3,384 33.6%
SUPN 3,130 52.4%
PHM 2,787 27.3%
FPH 2,525 11.1%
Top Reduces (Value $000, Stocks/ETFs)
DB -30,183 -100.0%
ORI -3,788 -100.0%
MYRG -2,724 -27.5%
HBB -2,352 -100.0%
ITIC -1,670 -22.1%
WY -1,634 -28.8%
MRP -1,445 -100.0%
FRPH -1,392 -24.5%
UHAL -851 -6.0%
FR -848 -13.3%
Instrument mix + QoQ Δ (ex-options)
How this table is calculated: SEC VALUE ($000) is used as reported. For derivatives (PUT/CALL/WARRANT/RIGHT), SEC value represents reported underlying exposure, not premium cash paid/received. Column % is bucket-based: non-options share is calculated inside non-option total, options share is calculated inside options total. Details.
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Instrument:
Issuer Name Ticker Sector Industry Class History Value ($000) % Shares Shares Δ Shares Δ% Value Δ ($000) Value Δ% Principal Option Type