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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 57 of 171 rows. Rows without a quote are marked unavailable.

1WYWeyerhaeuser Co.5.98%Add +43.4%9,374,201$310.19M$33.09No quote
2BKBank of NY Mellon Corp.3.64%Reduce -5.0%5,028,544$188.47M$37.48No quote
3PKXPosco3.33%Reduce -9.8%2,321,005$172.78MNo quoteNo quote
4DVNDevon Energy Corp.3.17%Reduce -19.2%2,071,231$164.46M$79.40No quote
5CVCOCavco Industries, Inc.2.84%Reduce -10.8%1,726,891$147.3M$85.30No quote
6BAMBrookfield Asset Mgmt.2.84%Reduce -19.6%3,346,018$147.29M$44.02No quote
7FCEAForest City Enter. Inc.2.67%Reduce -0.6%6,967,150$138.44MNo quoteNo quote
8CVACovanta Holding Corp.2.63%-6,622,428$136.49MNo quoteNo quote
9APAApache Corp2.63%Reduce -8.4%1,353,333$136.17M$100.62No quote
10CMAComerica Inc.2.47%Add +6.1%2,556,661$128.24MNo quoteNo quote
11WTMWhite Mtns Insur. Grp2.25%Add +0.0%191,647$116.61M$608.44No quote
12KEYKeycorp2.17%Reduce -9.2%7,846,078$112.43M$14.33No quote
13INTCIntel Corporation1.92%Reduce -0.9%3,228,534$99.76M$30.90No quote
14LUKLeucadia National Corp.1.83%Reduce -6.5%3,622,522$94.98MNo quoteNo quote
15ECAEncana Corp.1.83%Reduce -13.5%4,002,220$94.89MNo quoteNo quote
16YAlleghany Corp.1.83%Reduce -4.0%216,277$94.76MNo quoteNo quote
17PPSPost Properties Inc.1.72%Reduce -2.1%1,666,333$89.08MNo quoteNo quote
18LOWLowe's Companies Inc.1.70%Add +0.3%1,837,346$88.17M$47.99No quote
19FRFirst Indust. Realty Tr, Inc.1.57%Add +0.2%4,307,710$81.16M$18.84No quote
20TRCTejon Ranch Co.1.47%-2,369,185$76.26MNo quoteNo quote
21VNOVornado Realty Trust1.36%Add +0.2%658,989$70.33M$106.73No quote
22CWHCommonWealth REIT1.23%Add +0.2%2,423,928$63.8M$26.32No quote
23NVDANVIDIA Corp1.23%Reduce -2.4%3,429,718$63.59M$18.54No quote
24BKDBrookdale Sr Living Inc.1.19%Reduce -2.2%1,845,332$61.52M$33.34No quote
25SYMCSymantec Corp1.15%Add +21.4%2,603,676$59.62MNo quoteNo quote
26AGCOAGCO Corp.1.09%New1,006,478$56.58M$56.22No quote
27HCCHCC Insurance Holdings0.99%Reduce -15.0%1,048,935$51.34M$48.94No quote
28SKTTanger Factory Out. Ctrs, Inc.0.98%Reduce -1.6%1,452,448$50.79M$34.97No quote
29AXLLAxiall Corporation0.95%Reduce -16.8%1,037,796$49.06MNo quoteNo quote
30HTHersha Hospitality Trust0.81%Add +0.2%6,273,031$42.09MNo quoteNo quote
31RSTIRofin-Sinar Tech. Inc.0.79%Reduce -2.8%1,699,162$40.85MNo quoteNo quote
32WKCWorld Fuel Services Corp.0.78%Add +6.5%825,488$40.64MNo quoteNo quote
33PRGSProgress Software Corp.0.77%Reduce -7.8%1,650,889$39.69MNo quoteNo quote
34SYNTSyntel, Inc.0.75%Add +43.0%455,170$39.13MNo quoteNo quote
35UNFUniFirst Corp.0.74%Reduce -6.1%360,951$38.26M$106.00No quote
36SEMGSemGroup Corporation0.74%Reduce -17.5%483,807$38.15MNo quoteNo quote
37CKHSeacor Holdings Inc.0.73%Add +11.0%460,190$37.85MNo quoteNo quote
38EMEEMCOR Group, Inc.0.70%Reduce -13.0%814,436$36.27M$44.53No quote
39LXULSB Industries Inc.0.68%Reduce -22.3%843,645$35.16M$41.67No quote
40LMLegg Mason Inc.0.67%Reduce -23.1%672,688$34.52MNo quoteNo quote
41ENSEnerSys0.66%Reduce -12.8%499,585$34.37M$68.79No quote
42FCNFTI Consulting Inc.0.66%Reduce -6.5%905,782$34.26M$37.82No quote
43TTEKTetra Tech, Inc.0.66%Reduce -12.9%1,238,251$34.05M$27.50No quote
44GGenpact Ltd.0.65%Reduce -10.0%1,934,499$33.91M$17.53No quote
45MTXMinerals Technologies Inc.0.64%Reduce -21.7%509,175$33.39MNo quoteNo quote
46PBProsperity Bancshares Inc.0.64%Add +63.7%532,553$33.34M$62.60No quote
47MSGMadison Sq. Garden Inc. .0.64%Add +45.4%533,656$33.33MNo quoteNo quote
48PNCWSPNC Fin'l Serv. Gp0.64%-1,283,250$33.2MNo quoteNo quote
49MDRXAllscripts Healthcare Sol., Inc.0.63%Add +18.6%2,025,793$32.51MNo quoteNo quote
50KALUKaiser Aluminum Corp.0.61%Reduce -6.7%436,533$31.81M$72.87No quote
51LABLMulti-Color Corp.0.61%Reduce -3.8%794,921$31.81MNo quoteNo quote
52IDCCInterdigital Inc.0.60%Reduce -13.0%648,252$30.99M$47.80No quote
53UMBFUMB Financial Corp.0.59%Reduce -3.6%485,695$30.79M$63.39No quote
54EFIIElectronics for Imaging Inc.0.58%Reduce -9.7%661,109$29.88MNo quoteNo quote
55CSGSCSG Systems International, Inc.0.57%Add +10.0%1,130,753$29.52MNo quoteNo quote
56DARDarling Int'l Inc.0.56%Add +3.3%1,379,021$28.82M$20.90No quote
57TFXTelefex Inc.0.55%Reduce -26.8%270,465$28.56M$105.60No quote
58HHyatt Hotels Corp.0.55%Add +0.2%464,262$28.31M$60.98No quote
59SXCSuncoke Energy Inc.0.55%Reduce -8.2%1,314,216$28.26MNo quoteNo quote
60CBSHCommerce Bancshares, Inc0.50%Add +19.8%555,166$25.82MNo quoteNo quote
61LMCADLiberty Media Corp.0.49%Reduce -9.8%187,085$25.57MNo quoteNo quote
62ATUActuant Corp.0.49%Add +69.8%739,062$25.55MNo quoteNo quote
63SCLStepan Company0.49%Reduce -22.5%478,486$25.29MNo quoteNo quote
64NSITInsight Enterprises, Inc.0.48%Reduce -36.3%811,329$24.94M$30.74No quote
65WHGWestwood Holdings Grp Inc.0.48%-414,877$24.91MNo quoteNo quote
66ALGAlamo Group, Inc.0.46%Reduce -3.3%444,650$24.05M$54.09No quote
67PDCOPatterson Companies Inc0.46%New603,465$23.84MNo quoteNo quote
68PDSPrecision Drilling Corp,0.44%Reduce -18.8%1,608,288$22.82M$14.19No quote
69ACGLArch Capital Group Ltd.0.44%Reduce -17.5%393,189$22.59M$57.44No quote
70PHHPHH Corporation0.43%Add +2.1%974,903$22.4MNo quoteNo quote
71BRSBristow Group Inc.0.43%Reduce -10.8%276,667$22.31MNo quoteNo quote
72GLTGlatfelter P. H. Co.0.43%Reduce -6.8%833,240$22.11MNo quoteNo quote
73ICFIICF International, Inc.0.43%Add +7.2%624,812$22.09M$35.36No quote
74MANTMantech Intl Corp.0.42%Reduce -13.7%745,371$22MNo quoteNo quote
75CUBCubic, Corp.0.40%Add +12.5%464,738$20.69MNo quoteNo quote
76WFCWSWells Fargo & Co.0.39%-938,530$20.12MNo quoteNo quote
77CYNCity National Corp.0.38%Reduce -7.5%261,475$19.81MNo quoteNo quote
78CTBCooper Tire & Rubber Co.0.38%New660,100$19.8MNo quoteNo quote
79WOOFVCA Antech Inc.0.38%Reduce -12.5%557,312$19.56MNo quoteNo quote
80RYNRayonier Inc.0.38%Add +1.3%547,884$19.48M$35.55No quote
81MTNVail Resorts Inc.0.37%Reduce -12.8%251,453$19.41M$77.18No quote
82ARCOArcos Dorados Holdings, Inc.0.37%New1,706,142$19.11M$11.20No quote
83IMIngram Micro Inc.0.36%Add +22.9%636,038$18.58MNo quoteNo quote
84ABMABM Industries Inc0.34%Reduce -12.8%650,038$17.54M$26.98No quote
85TGTredegar Corp.0.33%Add +23.5%721,521$16.89MNo quoteNo quote
86SMPStandard Motor Products, Inc.0.32%New367,674$16.42MNo quoteNo quote
87EXLSExlService Holdings Inc.0.31%Add +20.6%550,283$16.21MNo quoteNo quote
88CFRCullen Frost Bankers, Inc.0.31%Reduce -12.8%200,830$15.95M$79.42No quote
89CALMCal Maine Foods, Inc.0.30%Reduce -48.1%208,915$15.53M$74.32No quote
90WIREEncore Wire Corporation0.30%Reduce -12.5%315,115$15.45MNo quoteNo quote
91HOUSRealogy Holdings Corp.0.30%New408,234$15.4MNo quoteNo quote
92ERAERA Group Inc.0.29%Add +1.0%519,893$14.91MNo quoteNo quote
93CSTCST Brands, Inc0.29%Reduce -12.7%431,150$14.88MNo quoteNo quote
94BTZBlackRock Credit Allctn Inc Tr0.28%Add +1.8%1,049,551$14.43MNo quoteNo quote
95BRBroadridge Financial Sol. Inc.0.28%Reduce -13.0%342,387$14.26M$41.64No quote
96OSKOshkosh Corp.0.27%Reduce -15.4%253,609$14.08M$55.53No quote
97KMTKennametal Inc.0.26%Reduce -54.8%295,876$13.69M$46.28No quote
98AVTABlucora, Inc.0.25%Reduce -12.5%678,111$12.8MNo quoteNo quote
99EXLExcel Trust, Inc.0.24%Reduce -11.7%938,591$12.51MNo quoteNo quote
100ALCOAlico, Inc.0.24%Reduce -2.9%325,613$12.21MNo quoteNo quote
101AMHAmerican Homes 4 Rent0.24%Reduce -22.1%686,217$12.19M$17.76No quote
102CTOConsolidated Tomoka Ld Co.0.23%Reduce -51.6%258,368$11.86M$45.90No quote
103ROIAKRadio One Inc.0.22%Add +16.7%2,311,360$11.4MNo quoteNo quote
104USTRUnited Stationers Inc0.22%New274,511$11.38MNo quoteNo quote
105FSDFirst Trust Hi Inc Long/Sht Fd0.21%Add +1.9%609,023$11.05MNo quoteNo quote
106AVXAVX Corporation0.21%Reduce -37.2%819,541$10.88MNo quoteNo quote
107FORForestar Group Inc.0.19%New520,060$9.93M$19.09No quote
108JQCNuveen Credit Strategies Inc Fd0.18%New979,439$9.17MNo quoteNo quote
109HYIWestern Asset Hi Yld Def Opp Fd0.18%Add +2.0%510,954$9.15MNo quoteNo quote
110FSTForest Oil Corp.0.18%-4,000,000$9.12MNo quoteNo quote
111STRZAStarz- Liberty Capital0.17%Reduce -17.9%291,574$8.69MNo quoteNo quote
112VLYValley National Bancorp0.17%Reduce -37.4%866,857$8.59M$9.91No quote
113CSWCCapital Southwest0.15%-212,372$7.65MNo quoteNo quote
114ANVAllied Nevada Gold0.14%-1,961,723$7.38MNo quoteNo quote
115NHSNeuberger Berman Hi Yld Strat. Fd0.13%-504,626$6.99MNo quoteNo quote
116HYBNew America Hi Inc Fd, Inc0.12%Add +2.0%637,883$6.4MNo quoteNo quote
117ARDCAres Dynamic Cr Allocation Fd, Inc.0.12%Add +1.9%335,357$6.11MNo quoteNo quote
118DHGDWS High Inc Opp Fd Inc0.11%-393,556$5.81MNo quoteNo quote
119AKSAK Steel Corp.0.11%-711,375$5.66MNo quoteNo quote
120NORNoranda Aluminum Holding0.10%-1,500,000$5.3MNo quoteNo quote
121-PR WirelessCUSIP 316819400.10%New5,000,000$5MNo quoteNo quote
122PCIPIMCO Dynamic Credit Inc. Fd0.08%-179,209$4.27MNo quoteNo quote
123HYTBlackRock Corp Hi Yld Fd III Inc0.08%Add +1.3%337,088$4.14MNo quoteNo quote
124MHYWestern Asset Mgd Hi Inc Fd0.07%-669,372$3.88MNo quoteNo quote
125KELYAKelly Services Inc.0.07%-225,000$3.86MNo quoteNo quote
126SBSAASpanish Broadcasting Sys., Inc0.07%Add +57.5%681,637$3.84MNo quoteNo quote
127ALLYAlly Financial Inc.0.06%New139,500$3.34M$23.91No quote
128FSTRFoster (LB) Company0.06%New58,326$3.16MNo quoteNo quote
129GMGeneral Motors Co.0.06%Reduce -28.8%86,467$3.14M$36.30No quote
130FHYFirst Trust Strategic Hi IncFd II0.06%Add +2.3%188,173$3.08MNo quoteNo quote
131CMAWSComerica Inc.0.05%-130,000$2.74MNo quoteNo quote
132VZVerizon Comm. Corp.0.05%Reduce -67.7%53,388$2.61M$48.92No quote
133CIFMFS Intermediate Hi Inc Fd0.03%-524,984$1.54MNo quoteNo quote
134TPLTexas Pacific Land Trust0.03%Reduce -2.1%8,748$1.4MNo quoteNo quote
135SIRSelect Income REIT0.02%-40,000$1.19MNo quoteNo quote
136HIOWestern Asset Hi Inc Opp Fd0.02%-179,449$1.1MNo quoteNo quote
137TRCWSTejon Ranch Co.0.02%-372,079$1.09MNo quoteNo quote
138TRNOTerreno Realty Corp.0.02%Reduce -48.6%42,290$817K$19.32No quote
139SNYSanofi-Aventis0.01%Reduce -14.7%13,402$713K$53.20No quote
140COFWSCapital One Financial0.01%-15,000$608KNo quoteNo quote
141KIMKimco Realty Corp0.01%-26,045$599KNo quoteNo quote
142AKRAcadia Realty Trust0.01%-19,999$562KNo quoteNo quote
143BPYBrookfield Property Part. L.P0.01%-26,692$557KNo quoteNo quote
144AIGAmerican Intl Group, Inc.0.01%New10,000$546K$54.60No quote
145PSBPS Business Parks, Inc.0.01%-6,100$509KNo quoteNo quote
146CDRCedar Shopping Centers Inc.0.01%-80,000$500KNo quoteNo quote
147PLDPrologis Inc.0.01%-8,880$365K$41.10No quote
148CMOCapstead Mortgage Corp.0.00%-12,500$164KNo quoteNo quote
149NLYAnnaly Capital Mgmt, Inc.0.00%-13,215$151KNo quoteNo quote
150STLYStanley Furniture Co., Inc.0.00%Reduce -74.4%24,274$65KNo quoteNo quote
171EADWells Fargo Adv Inc Opp Fd-Sold0$0No quoteNo quote
170VODVodafone Group Plc-Sold0$0No quoteNo quote
169TECKTeck Cominco-Sold0$0No quoteNo quote
168SUSSSusser Holdings Cor.-Sold0$0No quoteNo quote
167SXTSensient Technologies Corp.-Sold0$0No quoteNo quote
166RFPResolute Forest Prod., Inc.-Sold0$0No quoteNo quote
165GHYPrudential Glb Sht Dur Hi Yld Fd-Sold0$0No quoteNo quote
164KGCKinross Gold Corp.-Sold0$0No quoteNo quote
163ISLEIsle of Capri Casinos Inc.0.00%New438,455$0No quoteNo quote
162IIINInsteel Industries Inc.-Sold0$0No quoteNo quote
161DNNDenison Mines Corp.-Sold0$0No quoteNo quote
160COWNCowen group Inc.-Sold0$0No quoteNo quote
159CMPCompass Minerals Intl-Sold0$0No quoteNo quote
158CLDCloud Peak Energy Inc.-Sold0$0No quoteNo quote
157CQBChiquita Brands Int'l Inc.-Sold0$0No quoteNo quote
156CASSCass Information Sys., Inc.-Sold0$0No quoteNo quote
155BIGBig Lots, Inc.-Sold0$0No quoteNo quote
154GOLDBarrick Gold Corp.-Sold0$0No quoteNo quote
153BGHBabson Cap Glb Sht Dur Hi Yd Fd-Sold0$0No quoteNo quote
152ASNAAscena Retail Group, Inc.-Sold0$0No quoteNo quote
151ALXAlexander's, Inc.-Sold0$0No quoteNo quote