# EDGAR Filing Document

**Accession Number:** 0001099281
**File Stem:** 0001099281-23-000009
**Filing Date:** 2023-2
**Character Count:** 9299
**Document Hash:** 663cc9a3e96d6917fac46b18880da888
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001099281-23-000009.hdr.sgml**: 20230210

**ACCESSION NUMBER**: 0001099281-23-000009

**CONFORMED SUBMISSION TYPE**: 13F-HR

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230210

**DATE AS OF CHANGE**: 20230210

**EFFECTIVENESS DATE**: 20230210

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** THIRD AVENUE MANAGEMENT LLC
- **CENTRAL INDEX KEY:** 0001099281
- **IRS NUMBER:** 010690900

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-11289
- **FILM NUMBER:** 23609144

**BUSINESS ADDRESS:**
- **STREET 1:** 675 THIRD AVENUE
- **STREET 2:** SUITE 2900-05
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10017
- **BUSINESS PHONE:** 2128885222

**MAIL ADDRESS:**
- **STREET 1:** 675 THIRD AVENUE
- **STREET 2:** SUITE 2900-05
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10017

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** EQSF ADVISERS INC
- **DATE OF NAME CHANGE:** 19991118

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 12-31-2022

**Check here if Amendment** [ ] **Amendment Number:** 

**This Amendment (Check only one.):** [ ] is a restatement.

[ ] adds new holdings entries.

**Institutional Investment Manager Filing this Report:**

**Name:** THIRD AVENUE MANAGEMENT LLC<br>**Address:** 675 THIRD AVENUE<br>SUITE 2900-05<br>NEW YORK, NY 10017

**Form 13F File Number:** 028-11289

The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form.

**Person Signing this Report on Behalf of Reporting Manager:**

**Name:** Michael A. Buono<br>**Title:** Chief Financial Officer<br>**Phone:** 212-906-1187

**Signature, Place, and Date of Signing:**

Michael A. Buono  New York, NY  02-10-2023<br>[Signature]  [City, State]  [Date]

**Report Type (Check only one.):**

[x] **13F HOLDINGS REPORT.** (Check here if all holdings of this reporting manager are reported in this report.)

[ ] **13F NOTICE.** (Check here if no holdings are reported in this report, and all holdings are reported by other reporting manager(s).)

[ ] **13F COMBINATION REPORT.** (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).)

### Form 13F Summary Page

**Report Summary:**

**Number of Other Included Managers:** 0

**Form 13F Information Table Entry Total:** 55

**Form 13F Information Table Value Total:** $574930921

      (round to nearest dollar)

**List of Other Included Managers:**

Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report.

[If there are no entries in this list, state “NONE” and omit the column headings and list entries.]

**NONE**

### FORM 13F INFORMATION TABLE

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | VOTING AUTHORITY | VOTING AUTHORITY | VOTING AUTHORITY |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | SOLE | SHARED | NONE |
| Alamo Group Inc. | COM | 011311107 |  | 4514208 | 31880 | SH |  | SOLE | 0 | 31880 | 0 | 0 |
| Amerco | COM | 023586100 |  | 90767 | 1508 | SH |  | SOLE | 0 | 1508 | 0 | 0 |
| American Homes 4 Rent | CL A | 02665T306 |  | 12452733 | 413163 | SH |  | SOLE | 0 | 413163 | 0 | 0 |
| Brookfield Asset Managmt Ltd | COM | 113004105 |  | 3731680 | 130159 | SH |  | SOLE | 0 | 130159 | 0 | 0 |
| Brookfield Corp | COM | 11271J107 |  | 16379397 | 520642 | SH |  | SOLE | 0 | 520642 | 0 | 0 |
| CBRE Group Inc. | COM | 12504L109 |  | 13909904 | 180742 | SH |  | SOLE | 0 | 180742 | 0 | 0 |
| Central Securities Corporation | COM | 155123102 |  | 3713191 | 111210 | SH |  | SOLE | 0 | 111210 | 0 | 0 |
| Chase Corp. | COM | 16150R104 |  | 3475588 | 40292 | SH |  | SOLE | 0 | 40292 | 0 | 0 |
| Comerica Inc. | COM | 200340107 |  | 20285365 | 303446 | SH |  | SOLE | 0 | 303446 | 0 | 0 |
| Comfort Systems USA Inc. | COM | 199908104 |  | 3326042 | 28902 | SH |  | SOLE | 0 | 28902 | 0 | 0 |
| CTO Realty Growth Inc. | COM | 22948Q101 |  | 1058028 | 57879 | SH |  | SOLE | 0 | 57879 | 0 | 0 |
| Deutsche Bank AG-Registered | COM | D18190898 |  | 32638652 | 2888365 | SH |  | SOLE | 0 | 2888365 | 0 | 0 |
| DR Horton Inc. | COM | 23331A109 |  | 18763703 | 210497 | SH |  | SOLE | 0 | 210497 | 0 | 0 |
| EMCOR Group Inc. | COM | 29084Q100 |  | 4827942 | 32597 | SH |  | SOLE | 0 | 32597 | 0 | 0 |
| Encore Capital Group Inc. | COM | 292554102 |  | 5730316 | 119531 | SH |  | SOLE | 0 | 119531 | 0 | 0 |
| First Industrial Realty Trust Inc. | COM | 32054K103 |  | 7598634 | 157452 | SH |  | SOLE | 0 | 157452 | 0 | 0 |
| Five Point Holdings LLC - CL A | COM | 33833Q106 |  | 10902077 | 4679003 | SH |  | SOLE | 0 | 4679003 | 0 | 0 |
| FNF Group | COM | 31620R303 |  | 6719873 | 178625 | SH |  | SOLE | 0 | 178625 | 0 | 0 |
| FRP Holdings Inc. | COM | 30292L107 |  | 6822500 | 126671 | SH |  | SOLE | 0 | 126671 | 0 | 0 |
| Green Brick Partners | COM | 392709101 |  | 121150 | 5000 | SH |  | SOLE | 0 | 5000 | 0 | 0 |
| Hamilton Beach Brand | CL A | 40701T104 |  | 7065992 | 570298 | SH |  | SOLE | 0 | 570298 | 0 | 0 |
| Hawaiian Holdings Inc. | COM | 419879101 |  | 6624903 | 645702 | SH |  | SOLE | 0 | 645702 | 0 | 0 |
| ICF International Inc. | COM | 44925C103 |  | 6319588 | 63802 | SH |  | SOLE | 0 | 63802 | 0 | 0 |
| Inventrust Properties Corp. | COM | 46124J201 |  | 16384847 | 692220 | SH |  | SOLE | 0 | 692220 | 0 | 0 |
| Ishares Inc | ETF | 464286392 |  | 287437 | 2631 | SH |  | SOLE | 0 | 2631 | 0 | 0 |
| Kaiser Aluminum Corp. | COM | 483007704 |  | 4885367 | 64315 | SH |  | SOLE | 0 | 64315 | 0 | 0 |
| Lazard Ltd. | COM | G54050102 |  | 15819436 | 456286 | SH |  | SOLE | 0 | 456286 | 0 | 0 |
| Lennar Corp - Class B | CL B | 526057302 |  | 24528438 | 328008 | SH |  | SOLE | 0 | 328008 | 0 | 0 |
| Liberty Media Corp. - Braves A | COM | 531229706 |  | 5688762 | 174128 | SH |  | SOLE | 0 | 174128 | 0 | 0 |
| Lowe's Companies Inc. | COM | 548661107 |  | 12384559 | 62159 | SH |  | SOLE | 0 | 62159 | 0 | 0 |
| Madison Square Garden Entertainment | COM | 55826T102 |  | 2858203 | 63558 | SH |  | SOLE | 0 | 63558 | 0 | 0 |
| MYR Group Inc. | COM | 55405W104 |  | 9316287 | 101187 | SH |  | SOLE | 0 | 101187 | 0 | 0 |
| Old Republic International Corp. | COM | 680223104 |  | 20229996 | 837681 | SH |  | SOLE | 0 | 837681 | 0 | 0 |
| Potlatchdeltic Corp. | COM | 737630103 |  | 879800 | 20000 | SH |  | SOLE | 0 | 20000 | 0 | 0 |
| Proassurance Corp. | COM | 74267C106 |  | 6621881 | 379043 | SH |  | SOLE | 0 | 379043 | 0 | 0 |
| Prologis Inc. | COM | 74340W103 |  | 19261499 | 170864 | SH |  | SOLE | 0 | 170864 | 0 | 0 |
| Prosperity Bancshares Inc. | COM | 743606105 |  | 7410816 | 101965 | SH |  | SOLE | 0 | 101965 | 0 | 0 |
| Rayonier Inc. | COM | 754907103 |  | 15094032 | 457950 | SH |  | SOLE | 0 | 457950 | 0 | 0 |
| Retail Opportunity Investments Corp. | COM | 76131N101 |  | 1127250 | 75000 | SH |  | SOLE | 0 | 75000 | 0 | 0 |
| Seaboard Corp. | COM | 811543107 |  | 8818891 | 2336 | SH |  | SOLE | 0 | 2336 | 0 | 0 |
| Southside Bancshares Inc. | COM | 84470P109 |  | 7537242 | 209426 | SH |  | SOLE | 0 | 209426 | 0 | 0 |
| Stewart Information Services Corp. | COM | 860372101 |  | 726410 | 17000 | SH |  | SOLE | 0 | 17000 | 0 | 0 |
| Stratus Properties Inc. | COM | 863167201 |  | 1162126 | 60245 | SH |  | SOLE | 0 | 60245 | 0 | 0 |
| Supernus Pharmaceuticals Inc. | COM | 868459108 |  | 87748 | 2460 | SH |  | SOLE | 0 | 2460 | 0 | 0 |
| The RMR Group Inc. | COM | 74967R106 |  | 734500 | 26000 | SH |  | SOLE | 0 | 26000 | 0 | 0 |
| Tidewater Inc. | COM | 88642R109 |  | 66732586 | 1810925 | SH |  | SOLE | 0 | 1810925 | 0 | 0 |
| Tri Pointe Group Inc. | COM | 87265H109 |  | 6138009 | 330178 | SH |  | SOLE | 0 | 330178 | 0 | 0 |
| Trinity Place Holdings | COM | 89656D101 |  | 3794049 | 5127785 | SH |  | SOLE | 0 | 5127785 | 0 | 0 |
| U-Haul Holding Company | COM | 023586506 |  | 17178171 | 312444 | SH |  | SOLE | 0 | 312444 | 0 | 0 |
| UMB Financial Corporation | COM | 902788108 |  | 10770071 | 128952 | SH |  | SOLE | 0 | 128952 | 0 | 0 |
| UniFirst Corporation | COM | 904708104 |  | 2883657 | 14942 | SH |  | SOLE | 0 | 14942 | 0 | 0 |
| Valaris Ltd. | COM | G9460G101 |  | 20281605 | 299935 | SH |  | SOLE | 0 | 299935 | 0 | 0 |
| Warrior Met Coal Inc. | COM | 93627C101 |  | 44152629 | 1274614 | SH |  | SOLE | 0 | 1274614 | 0 | 0 |
| Washington Trust Bancorp. | COM | 940610108 |  | 8621909 | 182745 | SH |  | SOLE | 0 | 182745 | 0 | 0 |
| Weyerhaeuser Company | COM | 962166104 |  | 15460475 | 498725 | SH |  | SOLE | 0 | 498725 | 0 | 0 |

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