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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 58 of 142 rows. Rows without a quote are marked unavailable.

1WYWeyerhaeuser Company8.79%Add +6.7%11,805,135$322.75M$27.34No quote
2FCEAForest City Enterprises Inc. CL A4.44%Add +7.1%8,101,985$163.09MNo quoteNo quote
3FRFirst Industrial Realty Trust, Inc.4.29%Add +13.8%7,528,218$157.72M$20.95No quote
4MACThe Macerich Company4.08%Add +13.8%1,953,426$150.06M$76.82No quote
5BAMBrookfield Asset Mgmt. CL A3.93%Add +10.8%4,588,281$144.26M$31.44No quote
6BKDBrookdale Senior Living Inc.3.67%Add +69.4%5,867,732$134.72M$22.96No quote
7BKBank of New York Mellon Corp.3.36%Reduce -5.8%3,156,638$123.58M$39.15No quote
8RYNRayonier Inc.3.32%Add +6.6%5,529,082$122.03M$22.07No quote
9VNOVornado Realty Trust3.24%Add +15.4%1,316,830$119.07M$90.42No quote
10CMAComerica Inc.2.90%Reduce -12.8%2,591,334$106.5MNo quoteNo quote
11EQCEquity Commonwealth2.75%Add +1.7%3,708,155$101.01MNo quoteNo quote
12CVCOCavco Industries, Inc. (COM & Restricted)2.57%Reduce -2.7%1,387,781$94.49M$68.09No quote
13LOWLowe's Companies Inc.2.42%Add +1.4%1,290,176$88.92M$68.92No quote
14AGCOAGCO Corp2.33%Reduce -3.5%1,837,243$85.67M$46.63No quote
15WTMWhite Mountains Insurance Group2.24%Reduce -16.0%109,906$82.13M$747.30No quote
16ZIONZions Bancorporation2.20%Add +1.4%2,934,458$80.82M$27.54No quote
17PPSPost Properties Inc.2.13%Add +1.4%1,341,014$78.17MNo quoteNo quote
18SKTTanger Factory Outlet Centers, Inc2.05%Add +1.2%2,287,753$75.43M$32.97No quote
19CVACovanta Holding Corporation2.04%Add +0.6%4,294,744$74.94MNo quoteNo quote
20PNCPNC Financial Corp1.75%Add +20.9%722,399$64.44M$89.20No quote
21HOUSRealogy Holdings Corp.1.73%Add +1.4%1,689,009$63.56MNo quoteNo quote
22CBSCBS Corporation1.69%Add +19.9%1,559,106$62.21MNo quoteNo quote
23PNCWSPNC Financial Services Group 2018 Warrants1.65%Add +25.5%2,487,754$60.45MNo quoteNo quote
24SYMCSymantec Corp1.54%Reduce -1.3%2,899,118$56.45MNo quoteNo quote
25GMGeneral Motors Co.1.53%Reduce -3.2%1,868,285$56.09M$30.02No quote
26APAApache Corp1.46%Reduce -11.8%1,371,109$53.69M$39.16No quote
27PKXPosco ADR1.44%Reduce -19.6%1,513,581$53.01MNo quoteNo quote
28TRCTejon Ranch Co.1.36%Reduce -1.3%2,292,582$50MNo quoteNo quote
29AXEAnixter International Inc.1.34%Add +233.3%854,833$49.39MNo quoteNo quote
30YAlleghany Corp.1.34%Reduce -6.5%104,799$49.06MNo quoteNo quote
31MASMasco Corp.1.26%Add +7.1%1,840,671$46.35M$25.18No quote
32LLoews Corporation1.19%Reduce -3.1%1,211,350$43.78M$36.14No quote
33NVDANVIDIA Corp1.17%Reduce -32.5%1,737,803$42.84M$24.65No quote
34DVNDevon Energy Corp.1.13%Reduce -27.9%1,119,426$41.52M$37.09No quote
35KEYKeycorp0.89%Reduce -2.9%2,505,146$32.59M$13.01No quote
36LUKLeucadia National Corporation0.75%Reduce -17.5%1,363,555$27.63MNo quoteNo quote
37HHyatt Hotels Corp.0.62%Add +1.3%482,381$22.72M$47.10No quote
38WFCWSWells Fargo & Co. 2018 Warrants0.58%Reduce -0.8%1,177,803$21.31MNo quoteNo quote
39KWKennedy-Wilson Holdings Inc.0.45%New748,000$16.58M$22.17No quote
40HCCHCC Insurance Holdings0.40%Reduce -12.1%187,613$14.53M$77.47No quote
41HYTBlackRock Corporate High Yield Fund VI0.35%Reduce -34.7%1,304,420$12.88MNo quoteNo quote
42VCVisteon Corp.0.33%New121,038$12.25M$101.24No quote
43FSDFirst Trust High Income Long/Short Fund0.32%Add +1.4%841,294$11.85MNo quoteNo quote
44WCICWCI Communities Inc.0.31%Add +2.9%505,435$11.44MNo quoteNo quote
45GGenpact Ltd.0.27%Add +0.0%425,885$10.06M$23.61No quote
46CSGSCSG Systems International, Inc.0.25%Reduce -5.3%302,329$9.31MNo quoteNo quote
47CBSHCommerce Bancshares, Inc0.25%Add +0.0%199,269$9.08MNo quoteNo quote
48BBarnes Group Inc.0.25%Reduce -4.4%251,271$9.06M$36.05No quote
49FCNFTI Consulting Inc.0.24%Reduce -26.6%210,845$8.75M$41.51No quote
50KALUKaiser Aluminum Corp.0.24%Add +0.0%107,610$8.64M$80.25No quote
51SYNTSyntel, Inc.0.23%-188,413$8.54MNo quoteNo quote
52TTEKTetra Tech, Inc.0.23%Reduce -15.2%346,716$8.43M$24.31No quote
53VVIViad Corp.0.23%Add +0.0%286,329$8.3MNo quoteNo quote
54UMBFUMB Financial Corporation0.22%-159,873$8.12M$50.81No quote
55WOOFVCA Antech Inc.0.22%Add +0.0%153,935$8.11MNo quoteNo quote
56DORMDorman Products, Inc.0.22%Add +5.4%156,173$7.95M$50.89No quote
57SMPStandard Motor Products, Inc.0.21%Add +9.8%226,298$7.89MNo quoteNo quote
58HYIWestern Asset High Yield Defined Opportunity Fund0.21%Add +2.2%562,522$7.88MNo quoteNo quote
59ALGAlamo Group, Inc.0.21%-162,499$7.6M$46.75No quote
60EMEEMCOR Group, Inc.0.20%Reduce -13.6%166,899$7.39M$44.25No quote
61NSITInsight Enterprises, Inc.0.20%-283,602$7.33M$25.85No quote
62PBProsperity Bancshares Inc.0.20%Reduce -12.7%148,415$7.29M$49.11No quote
63CSWCCapital Southwest0.19%-150,348$7.13MNo quoteNo quote
64CFRCullen Frost Bankers, Inc.0.19%Reduce -11.8%109,634$6.97M$63.58No quote
65TFXTelefex Inc.0.19%-56,069$6.96M$124.20No quote
66LMLegg Mason Inc.0.19%-165,614$6.89MNo quoteNo quote
67LABLMulti-Color Corporation0.18%Add +57.3%87,613$6.7MNo quoteNo quote
68PRGSProgress Software Corporation0.18%Reduce -21.1%258,146$6.67MNo quoteNo quote
69WKCWorld Fuel Services Corp0.18%Reduce -8.8%185,684$6.65MNo quoteNo quote
70VLYValley National Bancorp0.18%-672,934$6.62M$9.84No quote
71CUBCubic, Corp.0.18%Add +15.6%157,710$6.61MNo quoteNo quote
72IMIngram Micro Inc.0.18%-242,611$6.61MNo quoteNo quote
73PDCOPatterson Companies Inc0.17%-145,133$6.28MNo quoteNo quote
74BRBroadridge Financial Solutions Inc.0.17%-111,313$6.16M$55.35No quote
75CSTCST Brands, Inc0.16%Add +1.6%177,570$5.98MNo quoteNo quote
76FLWS1-800-Flowers.com Inc.0.16%Add +88.5%653,109$5.94MNo quoteNo quote
77ICFIICF International, Inc.0.16%Add +15.1%194,918$5.92M$30.39No quote
78ALCOAlico, Inc.0.16%-143,643$5.83MNo quoteNo quote
79DSWDSW Inc.0.16%New226,990$5.75MNo quoteNo quote
80MTNVail Resorts Inc.0.16%Reduce -22.9%54,710$5.73M$104.68No quote
81CYNCity National Corp.0.15%Reduce -15.6%61,349$5.4MNo quoteNo quote
82UNFUniFirst Corporation0.15%Reduce -5.8%50,455$5.39M$106.81No quote
83SBSISouthside Bancshares Inc.0.15%New194,170$5.35M$27.55No quote
84BTZBlackRock Credit Allocation Income Trust0.14%Reduce -51.0%409,999$4.99MNo quoteNo quote
85ROIAKRadio One Inc Cl D0.13%-2,311,360$4.92MNo quoteNo quote
86HYBNew America High Income Fund, Inc0.13%Add +2.3%595,362$4.75MNo quoteNo quote
87ARCOArcos Dorados Holdings, Inc.0.13%Add +26.2%1,743,763$4.74M$2.72No quote
88ABMABM Industries Inc0.13%Reduce -28.6%171,701$4.69M$27.31No quote
89DSTDST Systems0.13%New44,541$4.68MNo quoteNo quote
90CIRCircor International Inc.0.13%Add +33.7%116,329$4.67MNo quoteNo quote
91FLOWSPX Flow Inc.0.13%New135,078$4.65MNo quoteNo quote
92MHYWestern Asset Managed High Income Fund0.12%-1,025,669$4.59MNo quoteNo quote
93SEMGSemGroup Corporation - CL A0.12%Add +7.5%104,077$4.5MNo quoteNo quote
94NHSNeuberger Berman High Yield Strategies Fund0.12%-425,826$4.34MNo quoteNo quote
95CNHICNH Industrial NV0.11%Add +89.7%617,057$4.02MNo quoteNo quote
96MDRXAllscripts Healthcare Solutions, Inc.0.10%Reduce -51.7%297,717$3.69MNo quoteNo quote
97NBLNoble Energy Inc.0.10%New122,223$3.69MNo quoteNo quote
98SBSAASpanish Broadcasting System, Inc0.10%-681,637$3.59MNo quoteNo quote
99ARDCAres Dynamic Credit Allocation Fund, Inc.0.10%Reduce -17.4%253,978$3.55MNo quoteNo quote
100ENSEnerSys0.09%-64,368$3.45M$53.58No quote
101CZZCosan Ltd.0.08%New1,011,834$2.92MNo quoteNo quote
102GLTGlatfelter P. H. Co.0.08%Reduce -25.2%162,579$2.8MNo quoteNo quote
103CCSCentury Communities Inc.0.07%-132,474$2.63M$19.85No quote
104LXULSB Industries Inc.0.07%Add +0.0%166,837$2.56M$15.32No quote
105RSTIRofin-Sinar Technologies Inc.0.07%Reduce -58.2%96,385$2.5MNo quoteNo quote
106ANIPAni Pharmaceuticals Inc.0.06%Add +15.3%59,716$2.36M$39.50No quote
107UCPUCP Inc. - Class A0.06%Add +25.9%340,000$2.28MNo quoteNo quote
108WFCWells Fargo & Co. NEW0.06%Add +46.0%44,137$2.27M$51.34No quote
109IUSVISHARES RUSSELL 1000 GROWTH ETF0.05%New16,465$2MNo quoteNo quote
110SPYSPDR TR UNIT SER 10.05%New10,425$2M$191.65No quote
111CTTCatchmark Timber Trust Inc.0.04%New158,900$1.63MNo quoteNo quote
112FPOFirst Potomac Realty Trust0.04%-145,000$1.6MNo quoteNo quote
113VMIValmont Industries0.04%Reduce -14.5%14,911$1.42MNo quoteNo quote
114CMAWSComerica Inc 2018 Warrants0.03%-100,000$1.27MNo quoteNo quote
115SPXCSPX Corporation0.03%New83,019$990KNo quoteNo quote
116TRNOTerreno Realty Corp.0.02%-42,290$831K$19.65No quote
117WMIHWMI Holdings Corp,0.02%New296,406$765KNo quoteNo quote
118KIMKimco Realty Corp0.02%-26,045$636KNo quoteNo quote
119AKRAcadia Realty Trust0.02%-19,999$601KNo quoteNo quote
120NORNoranda Aluminum Holding0.01%Reduce -85.7%333,434$547KNo quoteNo quote
121CDRCEDAR REALTY TRUST INC0.01%-80,000$497KNo quoteNo quote
122PSBPS Business Parks, Inc.0.01%-6,100$484KNo quoteNo quote
123AMDAdvanced Micro Devices0.01%-250,000$430K$1.72No quote
124PLDPrologis Inc.0.01%-8,880$345K$38.85No quote
125POWLPowell Industries, Inc.0.01%Reduce -71.0%6,200$187K$30.16No quote
126TTETotal Fina ELF S A ADR0.00%-3,056$137K$44.83No quote
127VODVodafone Group Plc - ADR0.00%-2,326$74KNo quoteNo quote
128TRCWSTejon Ranch Co. WTS EXP 08/31/2010.00%Reduce -0.6%357,332$57KNo quoteNo quote
129FCEBForest City Enterprises Inc. CL B0.00%Reduce -71.4%702$15KNo quoteNo quote
142SXCSuncoke Energy Inc.-Sold0$0No quoteNo quote
141CKHSeacor Holdings Inc.-Sold0$0No quoteNo quote
140ROSERosetta Resources Inc.-Sold0$0No quoteNo quote
139HTSHatteras Financial Corp.-Sold0$0No quoteNo quote
138FORForestar Group Inc.-Sold0$0No quoteNo quote
137EXLExcel Trust, Inc.-Sold0$0No quoteNo quote
136EPEEP Energy Corp.-Sold0$0No quoteNo quote
135WIREEncore Wire Corporation-Sold0$0No quoteNo quote
134DHGDeutsche High Income Opportunity Fund-Sold0$0No quoteNo quote
133CMOCapstead Mortgage Corporation-Sold0$0No quoteNo quote
132BRSBristow Group Inc.-Sold0$0No quoteNo quote
131NLYAnnaly Capital Management, Inc.-Sold0$0No quoteNo quote
130ATUActuant Corporation-Sold0$0No quoteNo quote