Top 5 Stock Picks of Martin Whitman’s Third Avenue Management

3. Tidewater Inc. (NYSE:TDW)

Third Avenue Management’s Stake Value: $45.783 million

Number of hedge fund holders: 14

Tidewater Inc. (NYSE:TDW) is a marine transportation company, where it uses its fleet to provide marine and vessel services to offshore wind and offshore petroleum companies. Tidewater Inc. (NYSE:TDW) has been an exception in a trying year for the stock market, delivering more than 100% growth YTD.

Third Avenue Management published its ‘Small-Cap Value Fund’ Q1 2022 investor letter. Here is what it said:

“Within the Fund, a rapid rise in oil prices benefitted the investment in oil services company, Tidewater (NYSE:TDW), which more than doubled in price last quarter. The time-arbitrage/special-situations bucket is predominantly comprised of energy services company Tidewater, and other out of favor, misunderstood companies such as Hamilton Beach Brands. All of these companies are cyclical and currently out of favor, but given their strong financial positions, Fund Management believes they have the luxury of time and capital to invest and grow until the clouds dissipate.”