13F filing recap · Q3 2024

What did Third Avenue Management buy in Q3 2024?

Reported stock-position changes between this filing and the previous one. US-listed stocks across every Third Avenue account, including accounts that belong to no fund below.

Stock value

$611.63M

Positions

Estimated turnover

9.2%

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.

Quarter in review

Third Avenue Management opened new positions in Sandridge Energy and PBF Energy, while exiting Lowe’s Companies and Washington Trust Bancorp entirely. The firm substantially trimmed Old Republic International and moderately reduced Lazard, D.R. Horton, UMB Financial, and Weyerhaeuser. It also dramatically increased its stake in Wesco International.

New positions

SDSandridge Energy, Inc.$3.43Mreported value+280.6K shares PBFPbf Energy Inc.$2.66Mreported value+86.0K shares

Increased positions

HCCWarrior Met Coal, Inc.$50.83Mreported value+31.0K shares+4.1%DBDeutsche Bank Aktiengesellschaft$43.05Mreported value+7.2K shares+0.3%VALValaris Limited$24.10Mreported value+12.2K shares+2.9%CBRECbre Group, Inc.$22.78Mreported value+210 shares

Reduced positions

TDWTidewater Inc$34.57Mreported value-28.3K shares-5.6%CMAComerica Inc$28.51Mreported value-529 shares-0.1%BNBrookfield Corporation$24.17Mreported value-29.7K shares-6.1%LAZLazard, Inc.$18.26Mreported value-188.3K shares

Exited positions

WASHWashington Trust Bancorp, Inc.$5.46Mprior reported value-199.1K shares-100.0%LOWLowe’s Companies, Inc.$3.11Mprior reported value-14.1K shares-100.0%