Third Avenue Management's Q2 2025 Portfolio: Insights into Strategic Moves and Changes

Third Avenue Management reduced its stake in Deutsche Bank AG by 29.43% in Q2 2025. The firm added three new stocks to its portfolio, including Cantaloupe Inc, Champion Homes Inc, and Visteon Corp. Third Avenue Management also increased its stakes in 13 stocks, with notable increases in PulteGroup Inc and Tidewater Inc. The firm completely exited 12 holdings, including Brookfield Asset Management Ltd and Elme Communities.

Title: Third Avenue Management's Strategic Moves in Q2 2025

Third Avenue Management, a renowned value investor under the leadership of Martin Whitman, has made significant strategic moves in its portfolio during the second quarter of 2025. The firm, known for its deep value and distressed investing approach, reduced its stake in Deutsche Bank AG by 29.43% [2]. This move comes as part of a broader strategic shift aimed at reallocating capital into more promising investments.

The firm added three new stocks to its portfolio, including Cantaloupe Inc (NASDAQ:CTLP), Champion Homes Inc (NYSE:SKY), and Visteon Corp (NASDAQ:VC). Cantaloupe Inc was the most significant addition, with 370,013 shares, representing 0.84% of the portfolio and a total value of $4.07 million. Champion Homes Inc accounted for approximately 0.77% of the portfolio, with 59,865 shares valued at $3.75 million. Visteon Corp, the third addition, consisted of 10,298 shares, accounting for 0.2% of the portfolio and totaling $960,800 [2].

In addition to these new additions, Third Avenue Management increased its stakes in 13 stocks. The most notable increase was in PulteGroup Inc (NYSE:PHM), with an additional 33,131 shares, bringing the total to 96,931 shares. This adjustment represents a significant 51.93% increase in share count, a 0.72% impact on the current portfolio, and a total value of $10,222,340. Tidewater Inc (NYSE:TDW) saw an 8.14% increase in share count, with an additional 65,899 shares, bringing the total to 875,157 shares and a total value of $40,370,990 [2].

The firm also made significant exits from its portfolio, completely exiting 12 holdings. Notable exits include Brookfield Asset Management Ltd and Elme Communities [2].

These strategic moves reflect Third Avenue Management's commitment to high-conviction ideas across its core strategies: Value, Small-Cap, Real Estate, and International Real Estate. The firm continues to focus on extending ownership rights to senior professionals and ensuring a transparent succession plan.

References

[1] https://www.marketbeat.com/instant-alerts/filing-deutsche-bank-ag-acquires-42367-shares-of-the-travelers-companies-inc-nysetrv-2025-08-09/
[2] https://finance.yahoo.com/news/third-avenue-management-reduces-stake-080214635.html