THIRD AVENUE MANAGEMENT LLC

CIK 0001099281 · Q2 2026

13F Equity AUM

$625.3M

+1.5% QoQ

Positions

+2 QoQ

AUM Rank

#3,228

Top 37%

Skill Alpha (FF)

-1.5%/yr^ns

No Clear Edge

Rank #5,056 · Top 61%

vs S&P -4.0%/yr (unadj.)

Quarters Tracked

~13 years

Portfolio Concentration

Top 5: 35.1%Top 10: 50.2%Top 20: 68.6%

TDW9.9%

BCC7.5%

VAL-WT6.0%

RHI5.9%

HOG5.8%

HCC3.7%

FPH3.1%

CBRE2.9%

BN2.7%

UHAL/B2.6%

Others (45)49.8%

HHI (Herfindahl-Hirschman Index) measures portfolio concentration. Low (<1500) = diversified, Moderate (1500-2500), High (>2500) = concentrated bets.

Sector Allocation

Energy21.4%

Real Estate16.3%

Industrials14.9%

Financial Services13.6%

Consumer Cyclical12.1%

Basic Materials10.7%

Healthcare4.5%

Consumer Discretionary2.6%

Other3.9%

Portfolio weight by GICS sector based on latest 13F filing. Sectors below 2% are grouped as “Other.”

Position Sizing

Positions: 55Median: 1.14%Avg: 1.82%

0–0.5%

4(1.5%)

0.5–1%

18(14.3%)

1–3%

26(42.3%)

3–5%

2(6.8%)

5%+

5(35.1%)

Count of positions per weight bucket — (%) = combined portfolio weight

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Portfolio Overlap

Shared: 0Unique: 55vs 20 funds

0%Low

Fund positions

Consensus CUSIPs

Jaccard similarity of this fund’s portfolio vs the consensus of top 20 funds by AUM. Low (<15%) = contrarian, Moderate (15-40%), High (>40%) = follows the crowd.

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Position Changes This Quarter

New4Increased13Decreased23Exited2

New Positions

TMHC1.0%

+86K

MMS0.6%

+74K

Hongkong Land Holdin…0.6%

+550K

CRAI0.5%

+21K

Increased

RHI5.9%

+304K(+34%)

BCC7.5%

+40K(+7%)

B7S1.3%

+31K(+7%)

COLL1.1%

+28K(+18%)

ICFI1.1%

+27K(+38%)

SA2D0.8%

+22K(+7%)

HOG5.8%

+18K(+1%)

TDW9.9%

+13K(+1%)

FSV1.4%

+11K(+23%)

VAL-WT6.0%

+8K(+2%)

Decreased

FPH3.1%

-165,007(-4%)

RG61.6%

-89,441(-59%)

BN2.7%

-86,566(-18%)

HCC3.7%

-78,604(-22%)

BATRA1.0%

-52,558(-32%)

PLD2.3%

-21,122(-17%)

MYRG1.1%

-15,753(-55%)

ECPG1.9%

-12,795(-9%)

UNF0.9%

-7,632(-27%)

DHI1.8%

-4,631(-6%)

Exited

TPH

-155,855

PRA

-260,608

Quarter-over-quarter changes compared to prior 13F filing. New = first appearance; Exited = no longer held.

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Holdings

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