Martin Whitman - Third Avenue Management
Period:    Q1 2026
Portfolio date:    31 Mar 2026
No. of stocks:    53
Portfolio value:    $616,036,133
Holdings Activity Buys Sells    History
History Stock % of
Portfolio
Recent
Activity
Shares Reported
Price*
Value Current
Price
+/-
Reported
Price
52
Week
Low
52
Week
High
TDW - Tidewater Inc. 12.49 Add 5.51% 921,181 $83.55 $76,964,673 $72.48 -13.25% $41.52 $93.13
VAL - Valaris plc 8.09 Reduce 13.04% 508,186 $98.04 $49,822,555 $88.54 -9.69% $38.87 $114.12
BCC - Boise Cascade Company 6.92 Add 30.70% 562,021 $75.85 $42,629,293 $68.08 -10.24% $65.00 $95.00
HCC - Warrior Met Coal Inc. 5.50 Reduce 37.60% 364,002 $93.15 $33,906,786 $99.92 7.27% $40.80 $110.39
HOG - Harley-Davidson 4.80 Buy 1,462,670 $20.22 $29,575,187 $24.49 21.12% $17.09 $31.25
RHI - Robert Half International 3.73 Buy 903,905 $25.40 $22,959,187 $31.26 23.07% $21.83 $45.67
BN - Brookfield Corp. 3.16 Reduce 12.16% 481,495 $40.47 $19,486,103 $44.60 10.21% $37.93 $49.57
FPH - Five Point Holdings LLC 3.03 Reduce 6.14% 3,861,162 $4.84 $18,688,024 $5.11 5.58% $4.60 $6.64
CBRE - CBRE Group 3.00 Reduce 7.15% 136,330 $135.46 $18,467,262 $130.93 -3.34% $121.69 $174.27
PLD - Prologis Inc. 2.70 Reduce 13.41% 125,945 $132.18 $16,647,410 $144.54 9.35% $103.41 $147.93
ROG - Rogers Corp. 2.63 Reduce 24.29% 151,025 $107.33 $16,209,513 $137.67 28.27% $61.17 $155.67
UHAL.B - U Haul Holding Co Non Voting 2.06 Add 9.69% 284,375 $44.67 $12,703,031
LEN.B - Lennar Corp. CL B 1.95 Reduce 3.49% 142,843 $84.12 $12,015,953 $88.66 5.40% $79.50 $137.39
SUI - Sun Communities Inc. 1.87 Reduce 5.64% 91,455 $125.96 $11,519,672 $123.69 -1.80% $115.53 $137.85
PHM - PulteGroup Inc. 1.82 Reduce 5.52% 95,128 $117.61 $11,188,004 $118.40 0.67% $98.27 $144.50
DHI - D.R. Horton 1.64 Reduce 5.57% 73,836 $137.22 $10,131,776 $145.60 6.11% $119.54 $184.55
ECPG - Encore Capital Group Inc. 1.62 Reduce 16.67% 142,512 $70.12 $9,992,941 $81.46 16.17% $35.67 $92.64
JLL - Jones Lang Lasalle Inc. 1.60 Reduce 5.66% 32,407 $304.32 $9,862,098 $295.71 -2.83% $228.40 $363.06
FNF - Fidelity National Financial Inc. 1.46 Reduce 5.78% 193,455 $46.38 $8,972,443 $47.40 2.20% $42.78 $59.21
UMBF - UMB Financial Corp. 1.43 78,245 $112.79 $8,825,254 $129.92 15.19% $98.16 $136.11
MYRG - MYR Group Inc. 1.32 Reduce 18.94% 28,819 $282.32 $8,136,180 $445.66 57.86% $158.48 $484.71
SUPN - Supernus Pharmaceuticals 1.28 Reduce 19.40% 152,724 $51.69 $7,894,304 $44.75 -13.43% $30.83 $59.68
BATRA - Atlanta Braves Holdings Inc. Series A 1.26 164,438 $47.15 $7,753,252 $53.90 14.32% $41.50 $56.06
SKY - Skyline Champion Corp. 1.22 Reduce 5.31% 100,757 $74.37 $7,493,298 $74.77 0.54% $59.44 $99.17
AMH - American Homes 4 Rent 1.19 Reduce 5.74% 262,520 $27.92 $7,329,558 $33.27 19.16% $27.22 $37.23
TPH - Tri Pointe Homes, Inc. 1.18 155,855 $46.73 $7,283,104 $46.95 0.47% $28.72 $46.99
UNF - UniFirst Corp. 1.16 28,434 $251.59 $7,153,710 $269.92 7.29% $147.66 $283.77
FSV - Firstservice Corp 1.14 Add 169.59% 50,452 $138.94 $7,009,801 $140.68 1.25% $119.41 $209.66
PB - Prosperity Bancshares Inc. 1.11 102,168 $67.18 $6,863,646 $69.36 3.25% $61.07 $77.20
PRA - ProAssurance Corp. 1.05 Reduce 11.05% 260,608 $24.72 $6,442,230 $24.71 -0.04% $22.72 $24.85
BKD - Brookdale Senior Living Inc. 1.03 Buy 463,664 $13.68 $6,342,924 $12.34 -9.80% $6.48 $17.09
PBF - PBF Energy Inc. 1.01 131,050 $47.62 $6,240,601 $42.50 -10.75% $17.53 $52.18
OSG - Octave Specialty Group Inc. 1.01 Add 71.49% 1,341,211 $4.65 $6,236,631 $5.46 17.42% $3.88 $10.38
LXU - LSB Industries Inc. 0.92 Reduce 51.73% 381,096 $14.90 $5,678,330 $12.53 -15.91% $7.09 $17.22
ALG - Alamo Group Inc. 0.92 Add 43.00% 34,332 $164.97 $5,663,750 $149.37 -9.46% $145.76 $233.29
SD - SandRidge Energy Inc. 0.88 330,818 $16.31 $5,395,642 $14.81 -9.20% $9.89 $18.45
WCC - WESCO International Inc. 0.85 Reduce 5.18% 19,243 $273.62 $5,265,270 $354.31 29.49% $168.86 $377.90
CPRX - Catalyst Pharmaceuticals Inc. 0.84 Buy 210,161 $24.76 $5,203,586 $31.27 26.29% $19.05 $32.56
COLL - Collegium Pharmaceutical Inc. 0.83 Reduce 23.73% 155,143 $33.07 $5,130,579 $33.38 0.94% $29.08 $50.79
CET - Central Securities Corp. 0.82 101,812 $49.66 $5,055,984 $52.50 5.72% $46.47 $54.28
ITIC - Investors Title Co. 0.77 21,894 $217.34 $4,758,442 $242.97 11.79% $190.20 $288.98
FR - First Industrial Realty Trust Inc. 0.76 Reduce 22.64% 81,016 $57.85 $4,686,776 $61.58 6.45% $47.36 $64.66
ICFI - ICF International Inc. 0.76 Add 35.70% 71,736 $65.29 $4,683,643 $69.88 7.03% $58.83 $101.71
OCFC - OceanFirst Financial Corp. 0.72 Add 27.93% 246,662 $18.04 $4,449,782 $18.14 0.55% $16.09 $20.61
FLG - Flagstar Financial Inc. 0.71 Add 52.43% 331,241 $13.17 $4,362,444 $14.02 6.45% $10.38 $14.92
WY - Weyerhaeuser Co. 0.64 Reduce 5.36% 162,377 $24.43 $3,966,870 $24.48 0.20% $21.16 $27.86
SBSI - Southside Bancshares Inc. 0.59 116,879 $31.09 $3,633,768 $33.15 6.63% $26.32 $34.53
KALU - Kaiser Aluminum Corp. 0.58 Reduce 65.00% 29,881 $120.51 $3,600,959 $176.90 46.79% $71.44 $194.43
BXC - BlueLinx Holdings Inc. 0.57 Add 0.05% 64,369 $54.18 $3,487,512 $50.30 -7.16% $44.78 $88.30
QLYS - Qualys Inc. 0.56 Buy 39,120 $87.85 $3,436,692 $109.90 25.10% $74.51 $155.47
FRPH - FRP Holdings Inc. 0.38 Reduce 0.25% 107,160 $21.88 $2,344,661 $23.54 7.59% $20.53 $27.98
COMP - Compass Inc. 0.22 Buy 187,469 $7.31 $1,370,398 $7.71 5.47% $5.87 $13.96
BATRK - Atlanta Braves Holdings Inc. Series C 0.18 26,104 $42.70 $1,114,641 $49.59 16.14% $37.76 $52.05
* Reported Price is the price of the security as of the portfolio date. This value is significant in that it is the last known price at which the security was still held.
Sector % analysis
Energy 22.47
Real Estate 16.54
Financial Services 14.46
Basic Materials 13.93
Consumer Cyclical 12.61
Industrials 9.31
Healthcare 3.99
Technology 3.19
Unknown 2.06
Communication Services 1.44