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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 2026-09-12 from SEC 13F data.

Live quotes available for 61 of 121 rows. Rows without a quote are marked unavailable.

1WYWeyerhaeuser Company8.42%Reduce -4.5%5,651,983$189.34M$33.50No quote
2BAMBrookfield Asset Mgmt. CL A7.49%Reduce -0.1%4,291,808$168.28M$39.21No quote
3LENLennar Corp.6.81%Reduce -2.9%2,870,041$153.03M$53.32No quote
4FCEAForest City Enterprises Inc. CL A5.22%Reduce -0.2%4,853,922$117.32MNo quoteNo quote
5RYNRayonier Inc.4.30%Reduce -2.7%3,358,770$96.63M$28.77No quote
6BKBank of New York Mellon Corp.4.00%Reduce -0.3%1,762,417$89.92M$51.02No quote
7CMAComerica Inc.3.17%Reduce -0.4%971,553$71.16MNo quoteNo quote
8PNCPNC Financial Corp3.10%Reduce -0.1%558,812$69.78M$124.87No quote
9PNCWSPNC Financial Services Group 2018 Warrants3.04%-1,186,849$68.4MNo quoteNo quote
10VNOVornado Realty Trust2.67%Add +6.6%638,714$59.98M$93.90No quote
11FRFirst Industrial Realty Trust, Inc.2.28%Reduce -0.6%1,787,243$51.15M$28.62No quote
12YAlleghany Corp.2.06%Reduce -0.1%77,682$46.21MNo quoteNo quote
13TRCTejon Ranch Co.2.03%Add +2.2%2,211,653$45.65MNo quoteNo quote
14CVCOCavco Industries, Inc. (COM & Restricted)1.94%Reduce -19.3%335,919$43.55M$129.65No quote
15LOWLowe's Companies Inc.1.64%Reduce -14.9%475,011$36.83M$77.53No quote
16FPHFive Point Holdings LLC - CL A1.62%New2,466,661$36.41M$14.76No quote
17AMGNAmgen Inc.1.61%Reduce -0.3%210,430$36.24M$172.23No quote
18TPHSTrinity Place Holdings1.54%Add +1.1%4,882,914$34.72MNo quoteNo quote
19JCIJohnson Controls International plc1.47%Reduce -0.5%759,515$32.93M$43.36No quote
20LIVNLivanova PLC1.42%Reduce -0.2%520,671$31.87M$61.21No quote
21BKDBrookdale Senior Living Inc.1.35%Reduce -0.3%2,064,320$30.37M$14.71No quote
22FNFFNF Group1.33%-664,500$29.79M$44.83No quote
23MASMasco Corp.1.32%Reduce -9.0%779,146$29.77M$38.21No quote
24MACThe Macerich Company1.29%Add +29.8%500,801$29.08M$58.06No quote
25WTMWhite Mountains Insurance Group1.28%Reduce -48.7%33,035$28.7M$868.65No quote
26AXEAnixter International Inc.1.23%Reduce -0.3%352,892$27.6MNo quoteNo quote
27CERNCerner Corp.1.21%Reduce -0.2%409,318$27.21MNo quoteNo quote
28RLRalph Lauren Corp.1.18%Reduce -0.3%359,546$26.54MNo quoteNo quote
29CBSCBS Corporation1.18%Reduce -7.8%414,426$26.43MNo quoteNo quote
30ZIONZions Bancorporation1.09%Reduce -1.3%557,558$24.48M$43.91No quote
31PKYParkway Inc.1.07%Add +0.6%1,050,762$24.05MNo quoteNo quote
32KWKennedy-Wilson Holdings Inc.1.05%Add +0.3%1,242,253$23.67M$19.05No quote
33RSReliance Steel & Aluminum Co.1.02%New314,698$22.91M$72.81No quote
34EOGEOG Resources0.96%Add +52.7%239,621$21.69M$90.52No quote
35AVTAvnet Inc.0.89%Add +81.8%516,792$20.09M$38.88No quote
36DVNDevon Energy Corp.0.88%Reduce -19.3%619,883$19.82M$31.97No quote
37KEYKeycorp0.71%Reduce -14.1%856,940$16.06M$18.74No quote
38SHPGShire Plc - ADR0.51%Reduce -0.3%69,324$11.46MNo quoteNo quote
39NTCTNetscout Systems Inc.0.38%Reduce -8.1%247,700$8.52M$34.40No quote
40SYNTSyntel, Inc.0.37%Add +8.3%488,697$8.29MNo quoteNo quote
41CBSHCommerce Bancshares, Inc0.35%Reduce -8.8%139,306$7.92MNo quoteNo quote
42ARCOArcos Dorados Holdings, Inc.0.33%Reduce -21.6%989,700$7.37M$7.45No quote
43SBSISouthside Bancshares Inc.0.32%Reduce -7.9%204,070$7.13M$34.94No quote
44DBDEUTSCHE BANK AG-REGISTERED0.32%New400,000$7.12M$17.79No quote
45ICFIICF International, Inc.0.30%-144,822$6.82M$47.11No quote
46CVACovanta Holding Corporation0.30%Reduce -0.5%514,895$6.8MNo quoteNo quote
47LABLMulti-Color Corporation0.30%Reduce -3.7%82,062$6.7MNo quoteNo quote
48WKCWorld Fuel Services Corp0.28%-166,319$6.4MNo quoteNo quote
49VCVisteon Corp.0.28%Reduce -6.6%61,888$6.32M$102.07No quote
50BMCHBMC Stock Holdings, Inc.0.28%Add +11.7%283,400$6.19MNo quoteNo quote
51KALUKaiser Aluminum Corp.0.27%Add +13.2%69,578$6.16M$88.53No quote
52CUBCubic, Corp.0.27%Reduce -19.9%132,204$6.12MNo quoteNo quote
53UMBFUMB Financial Corporation0.27%Reduce -15.8%81,391$6.09M$74.86No quote
54TNETTrinet Group Services0.27%-185,400$6.07MNo quoteNo quote
55SPSP Plus Corp.0.27%Add +17.1%198,423$6.06MNo quoteNo quote
56TTEKTetra Tech, Inc.0.27%Reduce -11.9%131,444$6.01M$45.75No quote
57FIXComfort Systems USA Inc.0.27%-161,375$5.99M$37.11No quote
58PBProsperity Bancshares Inc.0.27%Reduce -6.1%93,046$5.98M$64.25No quote
59NSITInsight Enterprises, Inc.0.26%-147,700$5.91M$39.99No quote
60CSWICSW Industrials Inc.0.26%-150,348$5.81MNo quoteNo quote
61DSTDST Systems0.26%Add +85.6%93,000$5.74MNo quoteNo quote
62CFRCullen Frost Bankers, Inc.0.25%Reduce -8.4%60,800$5.71M$93.91No quote
63TPHTri Pointe Group Inc.0.24%Add +97.8%410,900$5.42M$13.19No quote
64EMEEMCOR Group, Inc.0.24%-82,107$5.37M$65.39No quote
65BBarnes Group Inc.0.24%Reduce -12.5%91,200$5.34M$58.53No quote
66WOOFVCA Antech Inc.0.23%Reduce -29.0%57,158$5.28MNo quoteNo quote
67GGenpact Ltd.0.23%Reduce -25.8%188,766$5.25M$27.83No quote
68ALGAlamo Group, Inc.0.23%Reduce -18.1%56,906$5.17M$90.82No quote
69VVIViad Corp.0.23%Reduce -0.8%108,235$5.12MNo quoteNo quote
70GIIIG-III Apparel Group Ltd.0.22%-194,701$4.86M$24.95No quote
71FCNFTI Consulting Inc.0.21%Reduce -2.9%136,292$4.77M$34.96No quote
72TILEInterface Inc.0.21%-241,920$4.75M$19.65No quote
73FNSRFinisar Corp.0.21%New182,400$4.74MNo quoteNo quote
74SYNASynaptics Inc.0.21%Add +6.3%91,307$4.72M$51.72No quote
75HAYNHaynes International Inc.0.21%New127,187$4.62MNo quoteNo quote
76NXQuanex Building Products0.20%Add +0.2%214,700$4.54M$21.15No quote
77PLABPhotronics Inc.0.20%Add +37.4%467,900$4.4MNo quoteNo quote
78DSWDSW Inc.0.20%Add +50.6%248,400$4.4MNo quoteNo quote
79KFYKorn/Ferry International0.19%-125,500$4.33M$34.53No quote
80UNFUniFirst Corporation0.19%-29,910$4.21M$140.72No quote
81CBMCambrex Corp.0.18%Reduce -19.4%68,885$4.12MNo quoteNo quote
82ALCOAlico, Inc.0.18%Reduce -0.7%128,323$4.02MNo quoteNo quote
83HZNHorizon Global Corp.0.17%New268,100$3.85MNo quoteNo quote
84PDCOPatterson Companies Inc0.17%-81,500$3.83MNo quoteNo quote
85SEBSeaboard Corp.0.17%-937$3.74M$3995.73No quote
86ABMABM Industries Inc0.17%-89,857$3.73M$41.52No quote
88DORMDorman Products, Inc.0.16%Reduce -25.3%43,600$3.61M$82.78No quote
87CZZCosan Ltd.0.16%Add +10.2%563,000$3.61MNo quoteNo quote
89VLYValley National Bancorp0.15%Reduce -16.2%282,975$3.34M$11.81No quote
92SMPStandard Motor Products, Inc.0.15%Reduce -26.0%63,347$3.31MNo quoteNo quote
91LUKLeucadia National Corporation0.15%Reduce -16.1%126,433$3.31MNo quoteNo quote
90CNHICNH Industrial NV0.15%Reduce -36.4%290,600$3.31MNo quoteNo quote
93PRGSProgress Software Corporation0.14%Reduce -8.7%102,555$3.17MNo quoteNo quote
94PDCEPDC Energy, Inc.0.14%New72,700$3.14MNo quoteNo quote
95CORECore-Mark Holding Co. Inc.0.13%Add +23.9%91,661$3.03MNo quoteNo quote
96MYRGMYR Group Inc.0.13%Add +45.3%93,400$2.9M$31.03No quote
97AMNAMN Healthcare Services Inc.0.13%New73,842$2.88M$39.06No quote
98CRZOCarrizo Oil & Gas Inc.0.13%Reduce -0.7%162,153$2.83MNo quoteNo quote
99CSGSCSG Systems International, Inc.0.12%-67,198$2.73MNo quoteNo quote
100CSWCCapital Southwest0.11%-150,348$2.42MNo quoteNo quote
101ANIPAni Pharmaceuticals Inc.0.10%-49,933$2.34M$46.80No quote
102LMLegg Mason Inc.0.10%Reduce -43.0%59,332$2.27MNo quoteNo quote
103WSBCWesbanco Inc.0.10%New56,700$2.24MNo quoteNo quote
104LEN-BLennar Corp - Class B0.10%Reduce -4.5%48,179$2.17M$44.98No quote
105CMAWSComerica Inc 2018 Warrants0.07%Reduce -13.1%33,300$1.47MNo quoteNo quote
106CCSCentury Communities Inc.0.06%-56,974$1.41M$24.80No quote
107CIRCircor International Inc.0.06%-22,467$1.34MNo quoteNo quote
108CTTCatchmark Timber Trust Inc.0.04%-80,000$910KNo quoteNo quote
109FPOFirst Potomac Realty Trust0.04%-80,000$889KNo quoteNo quote
110CDRCEDAR REALTY TRUST INC0.04%-175,700$853KNo quoteNo quote
111UCPUCP Inc. - Class A0.03%Reduce -62.5%63,659$698KNo quoteNo quote
112NXRTNEXPOINT RESIDNL TR0.03%-25,000$623KNo quoteNo quote
113VMIValmont Industries0.01%Reduce -8.1%1,982$297KNo quoteNo quote
114TTETotal Fina ELF S A ADR0.00%Reduce -64.9%984$49K$49.80No quote
115VODVodafone Group Plc - ADR0.00%Reduce -59.9%1,259$37KNo quoteNo quote
121MTNVail Resorts Inc.0.00%Reduce -100.0%0$0No quoteNo quote
120TFXTelefex Inc.-Sold0$0No quoteNo quote
119SKTTanger Factory Outlet Centers, Inc-Sold0$0No quoteNo quote
118FCEBForest City Enterprises Inc. CL B-Sold0$0No quoteNo quote
117FRGIFiesta Restaurant Group, Inc.-Sold0$0No quoteNo quote
116FLWS1-800-Flowers.com Inc.-Sold0$0No quoteNo quote