Investment Discipline

Unique among value investors, Third Avenue Management maintains its absolute focus on discovering and implementing investment ideas where demonstrable value has been overlooked. The firm believes that investing in well-financed, well-managed companies with good long-term prospects for growth, selling at significant discounts to their intrinsic value, generates attractive long-term returns with reduced risk of capital loss. The Third Avenue team invests like business owners, conducting the time intensive analysis of a company’s value in the context of its assets, management, liabilities and other factors, with a particular emphasis on the balance sheet.

The Firm

Founded in 1986 by legendary value investor Martin Whitman, whose beliefs defined a style of investing, one philosophy shapes all of Third Avenue’s investment strategies – Value, Small-Cap Value, Real Estate Value and International Real Estate Value.

Investment Strategies

  • Value
  • Small-Cap
  • Real Estate
  • International Real Estate

Investment Vehicles

  • U.S. Mutual Funds
  • Separate Accounts

Assets Under Management

Value 58%
Real Estate 26%
Small-Cap 13%
International Real Estate 3%

Percentages may not sum to 100% due to rounding; approximate breakdown subject to change.

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