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Focused investors/Third Avenue Management

Third Avenue Management

As of Q2 2026, Third Avenue Management reported 55 long-equity positions worth $625.34M in aggregate.

Copy-investor backtest

Latest quarter
+10.05%
1-year
+31.07%
3-year
+79.93%
5-year
+90.22%
3-year vs S&P 500
+7.54%
5-year vs S&P 500
+16.99%
5-year top 5
+140.52%

Return from mechanically copying the disclosed 13F equity portfolio after each filing and rebalancing at the next. The vs S&P 500 figures subtract SPY over that manager's own rebalance dates, so both sides cover the same days; both are price return, excluding dividends. Method & limitations.

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Updated 2026-06-06 from SEC 13F data.

Live quotes available for 59 of 171 rows. Rows without a quote are marked unavailable.

1WYWeyerhaeuser Co.4.56%Add +5.5%8,227,549$235.56M$28.63No quote
2BKBank of NY Mellon Corp.4.45%Reduce -14.6%7,616,860$229.95M$30.19No quote
3DVNDevon Energy Corp.4.16%Reduce -4.2%3,720,330$214.89M$57.76No quote
4BAMBrookfield Asset Mgmt.3.99%Reduce -1.3%5,514,261$206.23M$37.40No quote
5PKXPosco3.84%Reduce -0.3%2,698,251$198.7MNo quoteNo quote
6WTMWhite Mtns Insur. Grp2.97%Add +1.3%270,824$153.73M$567.62No quote
7LUKLeucadia Natl Corp.2.97%Reduce -2.8%5,637,890$153.58MNo quoteNo quote
8KEYKeycorp2.80%Reduce -38.1%12,680,969$144.56M$11.40No quote
9CVACovanta Holding Corp.2.74%Reduce -16.0%6,622,428$141.59MNo quoteNo quote
10FCEAForest City Enter. Inc.2.61%Reduce -32.2%7,125,350$134.95MNo quoteNo quote
11CVCOCavco Industries, Inc.2.22%Add +1282.1%2,013,020$114.64M$56.95No quote
12YAlleghany Corp.1.92%New242,104$99.18MNo quoteNo quote
13APAApache Corp1.83%Add +1.6%1,111,761$94.66M$85.14No quote
14CMAComerica Inc.1.83%Reduce -2.8%2,400,519$94.37MNo quoteNo quote
15LOWLowe's Co. Inc.1.70%Reduce -0.1%1,844,950$87.84M$47.61No quote
16TLABTellabs, Inc.1.60%-36,512,677$82.88MNo quoteNo quote
17INTCIntel Corporation1.46%Reduce -5.0%3,288,734$75.38M$22.92No quote
18TRCTejon Ranch Co.1.44%Reduce -4.5%2,410,906$74.35MNo quoteNo quote
19FRFirst Indust. Realty Trust, Inc.1.36%-4,334,466$70.52M$16.27No quote
20ENSEnerSys1.21%Add +5.4%1,034,161$62.7M$60.63No quote
21OSKOshkosh Corporation1.18%Reduce -21.8%1,248,589$61.16M$48.98No quote
22ECAEncana Corp.1.10%Add +6.8%3,281,821$56.87MNo quoteNo quote
23VNOVornado Realty Tr.1.07%Add +0.0%660,669$55.54M$84.06No quote
24CKHSeacor Holdings Inc.1.03%Add +0.1%588,164$53.19MNo quoteNo quote
25LMCADLiberty Media Corp.1.02%Reduce -4.0%358,544$52.76MNo quoteNo quote
26SEMGSemGroup Corp.0.99%-901,971$51.43MNo quoteNo quote
27HCCHCC Insurance Holdings0.99%Add +0.5%1,173,376$51.42M$43.82No quote
28TPGIThomas Properties Gp Inc.0.99%Add +0.1%7,638,779$51.33MNo quoteNo quote
29NVDANVIDIA Corp0.98%Reduce -0.1%3,262,133$50.76M$15.56No quote
30EMEEMCOR Group, Inc.0.92%Add +15.0%1,215,455$47.56M$39.13No quote
31SYMCSymantec Corp.0.92%Add +2.1%1,912,330$47.33MNo quoteNo quote
32ICFIICF International, Inc.0.92%Reduce -8.4%1,335,820$47.3M$35.41No quote
33PRGSProgress Software Corp.0.90%Add +4.4%1,795,337$46.46MNo quoteNo quote
34TFXTelefex Inc.0.89%Add +14.7%557,733$45.89M$82.28No quote
35SKTTanger Factory Out. Ctrs, Inc.0.88%New1,394,811$45.54M$32.65No quote
36AXLLAxiall Corporation0.87%Add +75.8%1,193,189$45.09MNo quoteNo quote
37UNFUniFirst Corp.0.87%-428,325$44.73M$104.42No quote
38BKDBrookdale Senior Living Inc.0.84%Add +149.8%1,646,138$43.29M$26.30No quote
39ACGLArch Capital Group Ltd.0.81%-777,715$42.1M$54.13No quote
40CMPCompass Minerals Intl0.81%Add +11.2%549,128$41.88MNo quoteNo quote
41SXTSensient Technologies Corp.0.81%Add +1.2%869,882$41.66MNo quoteNo quote
42EFIIElectronics for Imaging Inc.0.80%Reduce -14.4%1,307,114$41.41MNo quoteNo quote
43KMTKennametal Inc.0.75%Reduce -24.3%851,218$38.82M$45.60No quote
44RSTIRofin-Sinar Tech. Inc.0.74%Add +11.3%1,583,882$38.35MNo quoteNo quote
45LXULSB Industries Inc.0.73%Add +0.0%1,120,678$37.58M$33.53No quote
46HTHersha Hospitality Tr.0.69%New6,335,167$35.41MNo quoteNo quote
47KALUKaiser Aluminum Corp.0.65%Add +8.1%469,302$33.44M$71.25No quote
48KGCKinross Gold Corp.0.64%Add +6.6%6,568,998$33.17M$5.05No quote
49TTEKTetra Tech, Inc.0.64%Add +38.1%1,280,861$33.16M$25.89No quote
50PPSPost Properties Inc.0.61%Add +64.5%695,236$31.3MNo quoteNo quote
51MTXMinerals Technologies Inc.0.60%Reduce -7.0%623,872$30.8MNo quoteNo quote
52SCLStepan Company0.60%Add +13.1%533,312$30.79MNo quoteNo quote
53CWHCommonWealth REIT0.58%-1,359,990$29.8M$21.91No quote
54WIREEncore Wire Corp.0.57%-746,563$29.44MNo quoteNo quote
55GLTGlatfelter P. H. Co.0.57%Add +8.5%1,081,449$29.28MNo quoteNo quote
56IMIngram Micro Inc.0.56%Reduce -52.5%1,257,495$28.99MNo quoteNo quote
57MANTMantech International Corp.0.56%Reduce -30.3%1,004,966$28.9MNo quoteNo quote
58CALMCal Maine Foods, Inc.0.56%Add +8.8%598,032$28.77M$48.10No quote
59PDSPrecision Drilling Corp,0.54%Add +0.2%2,832,828$28.17M$9.94No quote
60ABMABM Industries Inc0.54%Add +1.5%1,041,798$27.73M$26.62No quote
61SYNTSyntel, Inc.0.49%Add +2.4%319,275$25.57MNo quoteNo quote
62ALGAlamo Group, Inc.0.48%Reduce -2.9%510,789$24.98M$48.91No quote
63SUSSSusser Holdings Corp.0.48%Add +275.7%463,919$24.66MNo quoteNo quote
64NEMNewmont Mining Corp.0.48%Reduce -6.5%874,219$24.57M$28.10No quote
65BRSBristow Group Inc.0.43%Reduce -6.0%306,693$22.32MNo quoteNo quote
66AVXAVX Corporation0.43%Reduce -18.6%1,686,086$22.14MNo quoteNo quote
67MSGMadison Sq. Garden Inc.0.41%Reduce -34.3%368,492$21.4MNo quoteNo quote
68HHyatt Hotels Corp.0.41%Reduce -0.2%490,229$21.06M$42.96No quote
69CTOConsolidated Tomoka Ld Co.0.40%-543,230$20.91M$38.49No quote
70UMBFUMB Financial Corp.0.40%Add +192.8%381,800$20.75M$54.34No quote
71MDRXAllscripts Healthcare Sol., Inc.0.40%Add +22.0%1,380,244$20.52MNo quoteNo quote
72MTNVail Resorts Inc.0.39%Reduce -23.7%289,337$20.07M$69.38No quote
73WHGWestwood Holdings Group Inc.0.39%-414,877$19.94MNo quoteNo quote
74PNCWSPNC Financial Services Gp0.38%-1,289,241$19.85MNo quoteNo quote
75NSITInsight Enterprises, Inc.0.38%New1,032,290$19.53M$18.92No quote
76CLDCloud Peak Energy Inc.0.37%Reduce -39.1%1,306,076$19.16MNo quoteNo quote
77CYNCity National Corp.0.37%Reduce -22.1%283,422$18.89MNo quoteNo quote
78CUBCubic, Corp.0.36%Add +0.0%342,505$18.39MNo quoteNo quote
79CBSHCommerce Bancshares, Inc0.33%Reduce -24.8%395,141$17.31MNo quoteNo quote
80BRBroadridge Financial Sol. Inc.0.33%Reduce -33.9%543,883$17.27M$31.75No quote
81AVTABlucora, Inc.0.32%Add +2.9%726,320$16.69MNo quoteNo quote
82BIGBig Lots, Inc.0.32%Add +39.2%447,053$16.58MNo quoteNo quote
83ORBOrbital Sciences Corp.0.32%-780,935$16.54MNo quoteNo quote
84CFRCullen Frost Bankers, Inc.0.30%Reduce -25.0%219,472$15.48M$70.55No quote
85CSTCST Brands, Inc0.29%Add +18.5%495,167$14.76MNo quoteNo quote
86FCNFTI Consulting Inc.0.28%New381,698$14.43M$37.80No quote
87ALCOAlico, Inc.0.27%Add +6.3%343,912$14.16MNo quoteNo quote
88VLYValley National Bancorp0.27%Reduce -5.4%1,383,246$13.76M$9.95No quote
89WTWWeight Watchers Intl0.26%-360,000$13.45M$37.37No quote
90JJSFJ&J Snack Foods Corp.0.26%Reduce -37.2%166,317$13.43M$80.72No quote
91ASNAAscena Retail Group, Inc.0.26%Reduce -45.2%663,601$13.23MNo quoteNo quote
92WFCWSWells Fargo & Co.0.26%-941,975$13.23MNo quoteNo quote
93STRZAStarz- Liberty Capital0.24%-436,434$12.28MNo quoteNo quote
94JOSBJos A Bank Clothiers Inc.0.23%Add +5.9%271,062$11.92MNo quoteNo quote
95DARDarling International Inc.0.23%-562,366$11.9M$21.16No quote
96ESIOElectro Scientific Ind., Inc.0.22%Reduce -39.1%977,904$11.45MNo quoteNo quote
97PESPioneer Energy Serv. Corp0.22%-1,520,195$11.42MNo quoteNo quote
98EXLExcel Trust, Inc.0.22%-942,491$11.31MNo quoteNo quote
99PKEPark Electrochemical Corp.0.21%Reduce -37.8%372,754$10.68MNo quoteNo quote
100ERAERA Group Inc.0.21%-392,393$10.67MNo quoteNo quote
101IIINInsteel Industries Inc.0.20%Reduce -3.7%649,222$10.45M$16.10No quote
102CASSCass Information Systems, Inc.0.20%Reduce -22.0%193,854$10.35MNo quoteNo quote
103BELFBBel Fuse Inc.0.18%Reduce -36.8%530,821$9.26M$17.44No quote
104AEOAmerican Eagle Outfitters0.17%Add +12.1%618,067$8.65M$13.99No quote
105SUPSuperior Industries Intl, Inc.0.15%Reduce -72.7%439,701$7.84MNo quoteNo quote
106CSWCCapital Southwest0.15%Add +300.0%227,372$7.78MNo quoteNo quote
107CCRNCross Country Healthcare Inc.0.13%Reduce -24.1%1,135,308$6.88M$6.06No quote
108BTZBlackRock Credit Allctn Income Tr0.11%New447,448$5.84MNo quoteNo quote
109STLYStanley Furniture Co., Inc.0.11%Reduce -5.0%1,559,077$5.78MNo quoteNo quote
110DHGDWS High Income Opp Fd Inc0.10%New353,260$5MNo quoteNo quote
111FPOFirst Potomac Realty Tr.0.09%Reduce -1.0%388,415$4.88MNo quoteNo quote
112IAGIAMGOLD Corp.0.09%Add +205.7%995,315$4.73M$4.75No quote
113COWNCowen group Inc.0.09%Reduce -14.6%1,341,760$4.63MNo quoteNo quote
114KELYAKelly Services Inc.0.08%Reduce -20.9%225,000$4.38MNo quoteNo quote
115GMGeneral Motors Co.0.08%-121,467$4.37M$35.97No quote
116RFPResolute Forest Products, Inc.0.08%-315,495$4.17MNo quoteNo quote
117KRNYKearny Financial Corp.0.08%Reduce -16.4%382,278$3.91MNo quoteNo quote
118MHYWestern Asset Mgd Hi Inc Fd0.07%New669,372$3.81MNo quoteNo quote
119AUYYamana Gold Inc.0.07%Add +126.1%328,100$3.42MNo quoteNo quote
120HYBNew America High Inc Fd, Inc0.06%New333,065$3.17MNo quoteNo quote
121CQBChiquita Brands Int'l Inc.0.06%-244,155$3.09MNo quoteNo quote
122NHSNeuberger Berman Hi Yld Strat. Fd0.06%New229,145$2.99MNo quoteNo quote
123FSDFirst Trust Hi Inc Long/Short Fd0.06%New166,114$2.91MNo quoteNo quote
124AKSAK Steel Corporation0.05%-711,375$2.67MNo quoteNo quote
125CHKChesapeake Energy0.05%-100,000$2.59MNo quoteNo quote
126VTGDFVantage Drilling Co.0.05%Add +12.0%1,400,000$2.42MNo quoteNo quote
127FHYFirst Trust Strategic Hi IncFd II0.05%New150,793$2.4MNo quoteNo quote
128ANVAllied Nevada Gold0.05%New568,205$2.38MNo quoteNo quote
129CYEBlackRock Corp Hi Yld Fd III Inc0.04%New314,366$2.3MNo quoteNo quote
130TRNOTerreno Realty Corp.0.04%-121,290$2.15M$17.76No quote
131GHYPrudential Glb Sht Dur Hi Yld Fd0.04%New122,868$2.14MNo quoteNo quote
132EADWells Fargo Adv Inc Opp Fd0.04%New232,918$2.1MNo quoteNo quote
133EGOEldorado Gold Corporation0.04%Add +139.9%301,600$2.04M$6.76No quote
134CMAWSComerica Inc0.03%-130,000$1.8MNo quoteNo quote
135HAEHaemonetics Corp.0.03%-42,000$1.68M$39.88No quote
136HISBlackRock High Income Shares0.03%New799,788$1.66MNo quoteNo quote
137SBSAASpanish Broadcasting Sys., Inc0.03%-382,686$1.55MNo quoteNo quote
138ALXAlexander's, Inc.0.03%-5,000$1.43M$286.20No quote
139CIFMFS Intermediate Hi Inc Fd0.03%New480,650$1.33MNo quoteNo quote
140JAKKJakks Pacific, Inc.0.02%Reduce -78.2%267,038$1.2MNo quoteNo quote
141WLTWalter Energy, Inc.0.02%New80,100$1.12MNo quoteNo quote
142HIOWestern Asset Hi Inc Opp Fd0.02%New179,449$1.07MNo quoteNo quote
143-American Residential Prop., Inc.CUSIP 0297E3030.02%New60,000$1.06MNo quoteNo quote
144BPOBrookfield Properties Inc.0.01%-37,550$716KNo quoteNo quote
145SNYSanofi-Aventis0.01%Add +4.8%13,830$700K$50.61No quote
146CDRCedar Shopping Centers Inc.0.01%-133,000$689KNo quoteNo quote
147ITGInvestment Tech. Gp0.01%Reduce -95.1%40,787$641KNo quoteNo quote
148CVECenovus Energy Inc.0.01%-19,200$573K$29.84No quote
149EFFEaton Vance Fltg-Rate Inc Plus Fd0.01%New30,551$545KNo quoteNo quote
150KIMKimco Realty Corp.0.01%-26,045$526KNo quoteNo quote
152HYIWestern Asset Hi Yld Def Opp Fd0.01%New28,942$517KNo quoteNo quote
151BPYBrookfield Property Part. L.P0.01%New26,692$517KNo quoteNo quote
153SIRSelect Income0.01%-20,000$516KNo quoteNo quote
154AKRAcadia Realty Trust0.01%-19,999$494KNo quoteNo quote
155PSBPS Business Parks, Inc.0.01%-6,100$455KNo quoteNo quote
156COFWSCapital One Financial0.01%-15,000$436KNo quoteNo quote
157PLDPrologis Inc.0.01%-8,880$334K$37.61No quote
158HXMDesarrolladora Homex0.00%-100,000$212KNo quoteNo quote
159CFFNCapitol Federal Fincl, Inc.0.00%New14,075$175KNo quoteNo quote
160NLYAnnaly Capital Mgmt, Inc.0.00%-13,215$153KNo quoteNo quote
161CMOCapstead Mortgage Corp0.00%-12,500$147KNo quoteNo quote
162FNFGFirst Niagara Fincl Gp, Inc.0.00%-10,275$107KNo quoteNo quote
169TDWTidewater Inc.-Sold0$0No quoteNo quote
168HYHyster-Yale Mat. Hand., Inc.-Sold0$0No quoteNo quote
167HARHarman Int'l Indus., Inc.-Sold0$0No quoteNo quote
166XECCimarex Energy Co.-Sold0$0No quoteNo quote
165CFFNCapitol Federal Fin'l, Inc.-Sold0$0No quoteNo quote
164AMATApplied Materials, Inc.-Sold0$0No quoteNo quote
163-Alleghany Corp.CUSIP 17175100-Sold0$0No quoteNo quote

Other instruments

Bonds, warrants, or non-share principal positions reported alongside the equity portfolio.

1TRCWSTejon Ranch Co.WTSOTHER372,073$1.03M
2-Chiquita Brands Intl. Inc.NOTE 4.25% 8/15/16OTHER0$0