What did Third Avenue Management buy in Q4 2025?

Third Avenue Management opened 4 new positions (DB, FSV, FLG, FG) and added to 6 existing holdings in the Q4 2025 13F.

What did Third Avenue Management sell in Q4 2025?

Third Avenue Management exited 3 positions (CMA, SEB, VC) and trimmed 3.

What Third Avenue Management bought and sold in Q4 2025

In Q4 2025, Third Avenue Management (Third Avenue Management) opened 4 new positions — including DB (2.4%), FSV (0.5%), FLG (0.5%), added to 6, trimmed 3, exited 3 (CMA, SEB, VC). The book stood at $550M across 51 positions, filed Feb 12, 2026.

4New6Added3Trimmed3Exited

Share𝕏 in

New positions (4)

DBDeutsche Bank AG2.4% · $13M
FSVFirstservice Corp0.5% · $3M
FLGFlagstar Bank NA0.5% · $3M
FGF&g Annuities & Life Inc0.1% · $380K

Added to (6)

BCCBoise Cascade CO+57% shares · 5.8% · $32M
FNFFidelity National Financial+73% shares · 2.0% · $11M
AMHAmerican Homes 4 Rent- A+46% shares · 1.6% · $9M
OSGOctave Specialty Group Inc+30% shares · 1.1% · $6M
ALGAlamo Group Inc+61% shares · 0.7% · $4M
BXCBluelinx Holdings Inc+39% shares · 0.7% · $4M

Trimmed (3)

JLLJones Lang Lasalle Inc-33% shares · 2.1% · $12M
SBSISouthside Bancshares Inc-44% shares · 0.6% · $4M
FRPHFrp Holdings Inc-40% shares · 0.4% · $2M

Exited (3)

CMAComerica Incwas 2.0% of book
SEBSeaboard Corpwas 0.7% of book
VCVisteon Corpwas 0.2% of book

Third Avenue Management's other filings

Q2 2026 changes Q1 2026 changes Q3 2025 changes Q2 2025 changes Q1 2025 changes

Third Avenue Management's full portfolio →The whole cohort in Q4 2025 →

Changes vs the prior quarter's 13F, long US equity positions only (no shorts, options, or non-US listings). ADD/TRIM are share- count changes of ±20% or more. Sourced from SEC EDGAR. Not investment advice.