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.
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 Value.
|■ Real Estate||48%|
|■ Value Equity||35%|
|■ Small Cap Value Equity||8%|
|■ International Value Equity||3%|