Third Avenue Management

Third Avenue Management

Last Update: 02-15-2016
Related: Martin Whitman

Number of Stocks: 108
Number of New Stocks: 5

Total Value: $3,089 Mil
Q/Q Turnover: 1%

Countries: USA
Details: Top Buys | Top Sales | Top Holdings  Embed:

Third Avenue Management' s Profile & Performance

Profile

Founded by legendary value investor Martin Whitman, Third Avenue Management manages mutual funds, separate accounts and hedge funds. The mutual funds include, Third Avenue Value Fund, managed by Martin Whitman, Third Avenue Small-Cap Value Fund, managed by Curtis Jensen, Third Avenue Real Estate Value Fund, managed by Michael Winer, and Third Avenue International Value Fund, managed by Amit Wadhwaney. All of these funds have achieved outstanding performances compared with peers.


We also have Martin Whitman in our List of Gurus. There are overlaps between the portfolio of Third Avenue Management and Martin Whitman's portfolio (Third Avenue Value Fund)

Web Page:http://thirdavenuefunds.com/taf/index.html

Investing Philosophy

Third Avenue Management, led by its founder and chairman, Martin Whitman, are balance sheet value investors. They think that the current balance sheet, rather than its projected future revenues and earnings, is the best measure of a company's value. They seek to invest in safe companies that are cheaply priced.

Total Holding History

Performance of Third Avenue Value Fund

YearReturn (%)S&P500 (%)Excess Gain (%)
2015-8.371.19-9.6
20144.8813.69-8.8
201318.8432.39-13.5
3-Year Cumulative14.2 (4.5%/year)52.3 (15.1%/year)-38.1 (-10.6%/year)
201227.481611.5
2011-20.862.11-23.0
5-Year Cumulative15.2 (2.9%/year)80.4 (12.5%/year)-65.2 (-9.6%/year)
201013.8715.06-1.2
200944.5126.4618.0
2008-45.61-37-8.6
20075.765.490.3
200614.6915.79-1.1
10-Year Cumulative25.1 (2.3%/year)102 (7.3%/year)-76.9 (-5%/year)
200516.494.9111.6
200426.6210.8815.7
200310.4628.68-18.2
20027.13-22.129.2
200110.82-11.8922.7
15-Year Cumulative142 (6.1%/year)107.5 (5%/year)34.5 (1.1%/year)
20000.91-9.110.0
199910.0621.04-11.0
199816.7228.58-11.9
1997-5.0333.36-38.4
199611.0222.96-11.9
20-Year Cumulative230.7 (6.2%/year)381.4 (8.2%/year)-150.7 (-2%/year)
19952.3637.58-35.2
1994-3.221.32-4.5
19931.3610.08-8.7
199210.887.623.3
1991-0.2630.47-30.7
25-Year Cumulative267.2 (5.3%/year)937.3 (9.8%/year)-670.1 (-4.5%/year)

Top Ranked Articles

Third Avenue Buys Ralph Lauren, Boosts Baxalta Value Fund also acquires stake in Harman International
Martin Whitman (Trades, Portfolio) is founder and former portfolio manager of the Third Avenue Value Fund. Chip Rewey now manages the fund after Whitman stepped down from active management duties. During the first quarter of the year, the fund bought many stocks and the following are the most heavily weighted. Read more...
Third Avenue Sheds 489,500 Shares of Symantec Symantec operates in highly competitive industry
Martin Whitman is a Bronx native who has more than 67 years of investment experience. Whitman graduated from Syracuse University and spent the next 25 years split between working as a security analyst and an investment banker for Sears. Read more...
Third Avenue Value Sells NVIDIA, Cavco Fund founded by Martin Whitman exits POSCO stake
Martin Whitman (Trades, Portfolio) is the founder of the Third Avenue Value Fund (TAVFX), which is now managed by Chip Rewey. The fund sold many stocks during the first quarter including the following. Read more...
Third Avenue Value Buys 2 Stocks With Short-Term Struggles Fund led by Chip Rewey takes stake in Harman International and Ralph Lauren
Third Avenue Management (Trades, Portfolio)’s flagship fund, the Third Avenue Value Fund, is led by Chip Rewey and remains dedicated to its principles in value investing after founder Martin Whitman (Trades, Portfolio) stepped down from portfolio management in 2012. Read more...
Third Avenue Reduces Position in Weyerhaeuser in 4th Quarter Guru sells stakes in NVIDIA and Hyatt Hotels
Most of Third Avenue Management (Trades, Portfolio)’s largest fourth-quarter transactions were reductions of existing stakes. Third Avenue acquired five new stakes in the quarter, but most had modest impacts on the portfolio. Read more...
» More Third Avenue Management Articles

Commentaries and Stories

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Third Avenue Buys Ralph Lauren, Boosts Baxalta Value Fund also acquires stake in Harman International Martin Whitman,Third Avenue Management - Third Avenue Buys Ralph Lauren, Boosts Baxalta
Martin Whitman (Trades, Portfolio) is founder and former portfolio manager of the Third Avenue Value Fund. Chip Rewey now manages the fund after Whitman stepped down from active management duties. During the first quarter of the year, the fund bought many stocks and the following are the most heavily weighted. More...

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Third Avenue Sheds 489,500 Shares of Symantec Symantec operates in highly competitive industry Third Avenue Management - Third Avenue Sheds 489,500 Shares Of Symantec
Martin Whitman is a Bronx native who has more than 67 years of investment experience. Whitman graduated from Syracuse University and spent the next 25 years split between working as a security analyst and an investment banker for Sears. More...

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Third Avenue Value Sells NVIDIA, Cavco Fund founded by Martin Whitman exits POSCO stake Martin Whitman,Third Avenue Management - Third Avenue Value Sells NVIDIA, Cavco
Martin Whitman (Trades, Portfolio) is the founder of the Third Avenue Value Fund (TAVFX), which is now managed by Chip Rewey. The fund sold many stocks during the first quarter including the following. More...

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Third Avenue Value Buys 2 Stocks With Short-Term Struggles Fund led by Chip Rewey takes stake in Harman International and Ralph Lauren Martin Whitman,Third Avenue Management - Third Avenue Value Buys 2 Stocks With Short-Term Struggles
Third Avenue Management (Trades, Portfolio)’s flagship fund, the Third Avenue Value Fund, is led by Chip Rewey and remains dedicated to its principles in value investing after founder Martin Whitman (Trades, Portfolio) stepped down from portfolio management in 2012. More...

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Third Avenue Small-Cap Fund's 1st Quarter 2016 Shareholder Letter Managers discuss small-cap holdings Third Avenue Management - Third Avenue Small-Cap Fund's 1st Quarter 2016 Shareholder Letter
Dear Fellow Shareholders, More...

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Third Avenue Value Fund 1st Quarter 2016 Letter Fund comments on holdings and events at the company Third Avenue Management - Third Avenue Value Fund 1st Quarter 2016 Letter
Dear Fellow Shareholders, More...

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Third Avenue Reduces Position in Weyerhaeuser in 4th Quarter Guru sells stakes in NVIDIA and Hyatt Hotels Third Avenue Management - Third Avenue Reduces Position In Weyerhaeuser In 4th Quarter
Most of Third Avenue Management (Trades, Portfolio)’s largest fourth-quarter transactions were reductions of existing stakes. Third Avenue acquired five new stakes in the quarter, but most had modest impacts on the portfolio. More...

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Third Avenue Value Fund Trims Stake in NVIDIA Stock price has fallen since beginning of year Martin Whitman,Third Avenue Management - Third Avenue Value Fund Trims Stake In NVIDIA
Legendary guru Martin Whitman has more than 67 years of experience in the investment industry. A Bronx native, Whitman began his career shortly after graduating from Syracuse University with a degree in business administration in 1949. Whitman seized an opportunity to begin his career working as a security analyst for Shearson Hammill. After gaining valuable experience, Whitman took advantage of another opportunity and began working as an investment banker for the owners of the Sears Roebuck fortune, the Rosenwald family who actively managed Sears' department stores in the early 1900s. More...

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Third Avenue Buys Baxter Spin-Off Martin Whitman-led firm takes stake in biopharmaceutical company Baxalta Third Avenue Management - Third Avenue Buys Baxter Spin-Off
Guru Martin Whitman is the founder of Third Avenue Management (Trades, Portfolio). Whitman was born in the Bronx, where he grew up. He went on to graduate from Syracuse University with a degree in business administration. Whitman also has a master's in economics from the The New School. More...

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Berkshire Hathaway, Wells Fargo, China Mobile, Novartis, Bank of America Reach 52-Week Lows According to GuruFocus' list, these stocks have reached their 52-week milestones T Boone Pickens,Third Avenue Management,Ruane Cunn - Berkshire Hathaway, Wells Fargo, China Mobile, Novartis, Bank Of America Reach 52-Week Lows
According to GuruFocus list of 52-week lows, these Guru stocks have reached their 52-week lows. More...

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What Third Avenue Management Thinks Market Has Over-Punished Market has overreacted about some solid areas, managers said Third Avenue Management, - What Third Avenue Management Thinks Market Has Over-Punished
With volatility and enthusiasm for growth stocks marking the year-end market, long-term investors Third Avenue Management (Trades, Portfolio) spotted some compelling areas facing temporary setbacks to invest in and gave their trading details in their fourth quarter portfolio update Tuesday. More...

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Third Avenue Value Fund Sells Nearly Half of Stake in POSCO Baxalta is guru's only new buy in 4th quarter Martin Whitman,Third Avenue Management - Third Avenue Value Fund Sells Nearly Half Of Stake In POSCO
Although Martin Whitman (Trades, Portfolio) has a reputation for being a “buy and hold” investor, many of Third Avenue Value Fund's largest transactions in the fourth quarter, which ended Oct. 31, 2015, were reductions. More...

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Third Avenue Cuts Stake in Powell, BlackRock Value firm makes room for other investments Third Avenue Management - Third Avenue Cuts Stake In Powell, BlackRock
Third Avenue Management (Trades, Portfolio) reduced its position in many stocks during the third quarter. Some of the largest reductions were in Powell Industries Inc. (POWL), BlackRock Credit All Inc Trust IV. (BTZ) and Allscripts Healthcare Solutions Inc. More...

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Third Avenue Management's Annual Report Emphasis is on investment-type companies Martin Whitman,Third Avenue Management - Third Avenue Management's Annual Report
Dear Fellow Shareholders: More...

THIRD AVENUE,ANNUAL REPORT,VALUE INVESTING,MARTIN WHITMAN


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Third Avenue International Value Fund Commentary - Part 3 Fund purchases 5 new holdings in 3rd quarter Third Avenue Management - Third Avenue International Value Fund Commentary - Part 3
Investment Activity More...

THIRD AVENUE INTERNATIONAL VALUE FUND,ANNUAL REPORT,PART ONE,LONG-TERM


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Third Avenue International Value Fund Commentary - Part 2 Examining commodity 'super-cycles' Third Avenue Management - Third Avenue International Value Fund Commentary - Part 2
Investment hyperbole seems to have a way of marking cyclical turns as a strong contra-indicator. I don’t recall reading the obituary but I assume the “commodity super-cycle” has been declared dead. If one is to believe newspapers and most sell-side research, commodities have now entered into a period of “lower for longer”. In reality, the commodity super-cycle never existed in the first place outside of media hyperbole. More...

THIRD AVENUE INTERNATIONAL VALUE FUND,ANNUAL REPORT,PART ONE,LONG-TERM


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Third Avenue International Value Fund Commentary - Part 1 Fund examines macroeconomic cycles of Japan and Brazil Third Avenue Management - Third Avenue International Value Fund Commentary - Part 1
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THIRD AVENUE INTERNATIONAL VALUE FUND,ANNUAL REPORT,PART ONE,LONG-TERM


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Third Avenue Real Estate Value Fund Commentary - Part 2 New book 'Superforecasting' studies prediction of measurable outcomes Third Avenue Management - Third Avenue Real Estate Value Fund Commentary - Part 2
“Superforecasting” More...

THIRD AVENUE REAL ESTATE VALUE FUND,ANNUAL REPORT,COMMENTARY,MARTIN WHITMAN


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Third Avenue Real Estate Value Fund Commentary - Part 1 The largest new position in the quarter was Macerich Company Third Avenue Management - Third Avenue Real Estate Value Fund Commentary - Part 1
Dear Fellow Shareholders: More...

THIRD AVENUE REAL ESTATE VALUE FUND,ANNUAL REPORT,COMMENTARY,MARTIN WHITMAN


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Third Avenue Management Profits From Encore Wire But Logs Loss From EP Energy The firm also gained from Rosetta Resources, TopBuild and Excel Trust Third Avenue Management,Martin Whitman,Paul Tudor  - Third Avenue Management Profits From Encore Wire But Logs Loss From EP Energy
In third quarter trading, Third Avenue Management recorded both big profits and big losses. More...

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