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 Avg. Buy
Price*
Value Current
Price
+/-
Since
Buy
52
Week
Low
52
Week
High
TDW - Tidewater Inc. 12.49 Add 5.51% 921,181 $36.83 $76,964,673 $74.35 101.85% $45.71 $93.13
VAL - Valaris Ltd. 8.09 Reduce 13.04% 508,186 $42.62 $49,822,555 $79.57 86.68% $43.53 $114.12
BCC - Boise Cascade Co. 6.92 Add 30.70% 562,021 $75.97 $42,629,293 $74.72 -1.64% $64.57 $91.43
HCC - Warrior Met Coal, Inc. 5.50 Reduce 37.60% 364,002 $28.08 $33,906,786 $82.12 192.45% $48.57 $110.39
HOG - Harley-Davidson, Inc. 4.80 Buy 1,462,670 $20.22 $29,575,187 $25.39 25.57% $16.96 $30.44
RHI - Robert Half Inc. 3.73 Buy 903,905 $25.40 $22,959,187 $35.59 40.12% $21.36 $39.76
BN - Brookfield Corp. 3.16 Reduce 12.16% 481,495 $20.97 $19,486,103 $43.36 106.73% $37.87 $49.40
FPH - Five Point Holdings, LLC 3.03 Reduce 6.14% 3,861,162 $9.52 $18,688,024 $5.12 -46.24% $4.60 $6.64
CBRE - CBRE Group, Inc. 3.00 Reduce 7.15% 136,330 $42.97 $18,467,262 $138.03 221.21% $121.69 $174.27
PLD - Prologis, Inc. 2.70 Reduce 13.41% 125,945 $86.04 $16,647,410 $142.16 65.23% $100.17 $149.10
ROG - Rogers Corp. 2.63 Reduce 24.29% 151,025 $81.84 $16,209,513 $134.83 64.76% $61.17 $169.00
UHAL.B - U-Haul Holdings CL B 2.06 Add 9.69% 284,375 $54.05 $12,703,031 $59.75 10.55% $39.58 $60.03
LEN.B - Lennar CL B 1.95 Reduce 3.49% 142,843 $41.77 $12,015,953 $81.19 94.36% $79.02 $134.56
SUI - Sun Communities, Inc. 1.87 Reduce 5.64% 91,455 $125.56 $11,519,672 $120.80 -3.79% $111.60 $135.36
PHM - PulteGroup, Inc. 1.82 Reduce 5.52% 95,128 $104.24 $11,188,004 $123.75 18.72% $106.31 $143.89
DHI - D.R. Horton, Inc. 1.64 Reduce 5.57% 73,836 $66.42 $10,131,776 $148.85 124.10% $127.63 $182.90
ECPG - Encore Capital Group, Inc. 1.62 Reduce 16.67% 142,512 $48.06 $9,992,941 $90.91 89.15% $35.67 $94.60
JLL - Jones Lang LaSalle Inc. 1.60 Reduce 5.66% 32,407 $148.70 $9,862,098 $321.95 116.51% $246.08 $363.06
FNF - Fidelity National Financial, Inc. 1.46 Reduce 5.78% 193,455 $35.72 $8,972,443 $50.04 40.10% $42.32 $57.15
UMBF - UMB Financial Corp. 1.43 78,245 $58.57 $8,825,254 $144.29 146.37% $102.27 $146.90
MYRG - MYR Group Inc. 1.32 Reduce 18.94% 28,819 $35.84 $8,136,180 $411.89 1,049.31% $171.51 $503.57
SUPN - Supernus Pharmaceuticals, Inc. 1.28 Reduce 19.40% 152,724 $28.77 $7,894,304 $47.35 64.60% $32.20 $59.68
BATRA - Atlanta Braves Holdings, Inc. 1.26 164,438 $21.27 $7,753,252 $57.45 170.12% $41.50 $58.37
SKY - Champion Homes, Inc. 1.22 Reduce 5.31% 100,757 $69.29 $7,493,298 $80.16 15.69% $60.13 $99.17
AMH - American Homes 4 Rent 1.19 Reduce 5.74% 262,520 $29.24 $7,329,558 $33.80 15.58% $26.95 $35.41
TPH-OLD - Tri Pointe Homes, Inc. 1.18 155,855 $14.46 $7,283,104 $46.95 224.80% $30.22 $46.99
UNF - UniFirst Corp. 1.16 28,434 $113.80 $7,153,710 $272.93 139.83% $146.95 $283.39
FSV - FirstService Corp. 1.14 Add 169.59% 50,452 $145.09 $7,009,801 $143.28 -1.25% $119.15 $208.07
PB - Prosperity Bancshares, Inc. 1.11 102,168 $65.07 $6,863,646 $72.68 11.70% $59.52 $75.86
PRA-OLD - ProAssurance Corp. 1.05 Reduce 11.05% 260,608 $16.59 $6,442,230 $24.99 50.62% $25.00 $25.00
BKD - Brookdale Senior Living Inc. 1.03 Buy 463,664 $13.68 $6,342,924 $14.40 5.26% $7.00 $17.09
PBF - PBF Energy Inc. 1.01 131,050 $29.44 $6,240,601 $57.44 95.13% $20.53 $58.06
OSG - Octave Specialty Group, Inc. 1.01 Add 71.49% 1,341,211 $7.29 $6,236,631 $6.13 -15.91% $3.88 $10.38
LXU - LSB Industries, Inc. 0.92 Reduce 51.73% 381,096 $9.13 $5,678,330 $11.26 23.29% $7.09 $17.22
ALG - Alamo Group Inc. 0.92 Add 43.00% 34,332 $102.65 $5,663,750 $162.24 58.05% $145.76 $232.05
SD - SandRidge Energy, Inc. 0.88 330,818 $12.15 $5,395,642 $13.70 12.74% $9.43 $17.94
WCC - WESCO International, Inc. 0.85 Reduce 5.18% 19,243 $170.96 $5,265,270 $330.84 93.52% $194.05 $377.35
CPRX - Catalyst Pharmaceuticals, Inc. 0.84 Buy 210,161 $24.76 $5,203,586 $31.48 27.14% $19.05 $32.56
COLL - Collegium Pharmaceutical, Inc. 0.83 Reduce 23.73% 155,143 $32.08 $5,130,579 $34.82 8.53% $29.19 $50.79
CET - Central Securities Corp. 0.82 101,812 $25.83 $5,055,984 $52.98 105.15% $45.20 $54.65
ITIC - Investors Title Co. 0.77 21,894 $151.05 $4,758,442 $279.20 84.84% $191.48 $284.40
FR - First Industrial Realty Trust, Inc. 0.76 Reduce 22.64% 81,016 $14.09 $4,686,776 $65.10 361.99% $45.84 $65.74
ICFI - ICF International, Inc. 0.76 Add 35.70% 71,736 $43.94 $4,683,643 $79.13 80.10% $58.71 $100.97
OCFC - OceanFirst Financial Corp. 0.72 Add 27.93% 246,662 $17.73 $4,449,782 $19.14 7.95% $15.50 $20.18
FLG - Flagstar Bank, National Association 0.71 Add 52.43% 331,241 $12.79 $4,362,444 $14.88 16.35% $10.55 $15.37
WY - Weyerhaeuser Co. 0.64 Reduce 5.36% 162,377 $26.97 $3,966,870 $23.41 -13.20% $20.60 $27.28
SBSI - Southside Bancshares, Inc. 0.59 116,879 $29.48 $3,633,768 $34.64 17.52% $25.41 $35.76
KALU - Kaiser Aluminum Corp. 0.58 Reduce 65.00% 29,881 $66.18 $3,600,959 $158.28 139.15% $70.10 $195.96
BXC - BlueLinx Holdings Inc. 0.57 Add 0.05% 64,369 $71.03 $3,487,512 $54.23 -23.65% $44.78 $87.88
QLYS - Qualys, Inc. 0.56 Buy 39,120 $87.85 $3,436,692 $151.54 72.50% $74.51 $164.17
FRPH - FRP Holdings, Inc. 0.38 Reduce 0.25% 107,160 $24.51 $2,344,661 $24.05 -1.87% $20.53 $27.50
COMP - Compass, Inc. 0.22 Buy 187,469 $7.31 $1,370,398 $11.50 57.32% $6.37 $13.95
BATRK - Atlanta Braves Holdings, Inc. 0.18 26,104 $35.64 $1,114,641 $52.56 47.49% $37.76 $53.25
* Avg. Buy Price is an estimated cost basis: the share-weighted average of the quarter-end prices reported when this manager first bought or later added to the position (average-cost method, reset after a full exit). 13F filings disclose only quarter-end holdings, not actual trade prices, so this approximates — but does not exactly equal — what was paid.
Sector % analysis
Energy 22.47
Real Estate 16.54
Financial Services 14.46
Basic Materials 13.93
Consumer Cyclical 12.61
Industrials 11.37
Healthcare 3.99
Technology 3.19
Communication Services 1.44