N-PORT filing recap · January 2025

What did Third Avenue Value Fund buy in January 2025?

Reported stock-position changes between this filing and the previous one. These are Third Avenue Value Fund's own holdings, not the firm's.

Stock value

$634.09M

Positions

Estimated turnover

15.7%

Turnover is a proxy: verified trade-origin share changes valued at period-end and divided by average reported stock value. SEC holdings reports do not disclose execution dates or prices. Corporate actions and unreconciled activity are excluded.

Period in review

Third Avenue Value Fund opened a new position in Jeol Ltd and exited Lazard, Inc. during January. The fund added to Bayerische Motoren Werke, Bank of Ireland Group, Subaru Corp, and Tidewater Inc, while trimming Deutsche Bank AG, Warrior Met Coal, Horiba Ltd, Subsea 7 SA, and Comerica Inc. It also substantially increased its stake in Ultrapar Participacoes SA.

New positions

6951Jeol Ltd$14.12Mreported value+383.0K shares

Increased positions

BMWBayerische Motoren Werke AG$35.53Mreported value+72.8K shares+20.0%BIRGBank of Ireland Group Plc$33.56Mreported value+379.4K shares+12.7%7270Subaru Corp$27.82Mreported value+191.8K shares+13.7%TDWTidewater Inc$23.60Mreported value+77.7K shares

Reduced positions

DBKDeutsche Bank AG$35.51Mreported value-383.9K shares-17.5%CSCapstone Copper Corp$35.17Mreported value-670.6K shares-9.6%HCCWarrior Met Coal, Inc.$27.26Mreported value-177.8K shares-25.6%6856Horiba Ltd$20.59Mreported value-67.4K shares

Exited positions

LAZLazard, Inc.$16.40Mprior reported value-309.4K shares-100.0%