Third Avenue Management

Third Avenue Management

Last Update: 07-25-2018
Related: Martin Whitman

Number of Stocks: 76
Number of New Stocks: 6

Total Value: $2,017 Mil
Q/Q Turnover: 9%

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 (%)
201714.1621.71-7.5
201613.3911.991.4
2015-8.371.24-9.6
3-Year Cumulative18.6 (5.9%/year)38 (11.3%/year)-19.4 (-5.4%/year)
20144.8813.47-8.6
201318.8432.3-13.5
5-Year Cumulative47.8 (8.1%/year)107.2 (15.7%/year)-59.4 (-7.6%/year)
201227.4815.9911.5
2011-20.861.9-22.8
201013.8715.05-1.2
200944.5126.3518.2
2008-45.61-36.79-8.8
10-Year Cumulative33.5 (2.9%/year)125 (8.4%/year)-91.5 (-5.5%/year)
20075.765.140.6
200614.6915.85-1.2
200516.494.8311.7
200426.6210.715.9
200310.4628.19-17.7
15-Year Cumulative163.8 (6.7%/year)307.7 (9.8%/year)-143.9 (-3.1%/year)
20027.13-21.5828.7
200110.82-11.7622.6
20000.91-9.7510.7
199910.0620.4-10.3
199816.7228.7-12.0
20-Year Cumulative306 (7.3%/year)294.5 (7.1%/year)11.5 (0.2%/year)
1997-5.0333.47-38.5
199611.0222.49-11.5
19952.3638.04-35.7
1994-3.220.4-3.6
19931.3610.08-8.7
25-Year Cumulative329.8 (6%/year)883.9 (9.6%/year)-554.1 (-3.6%/year)
199210.887.623.3
1991-0.2630.47-30.7

Top Ranked Articles

Third Avenue Management's Largest Buys of the 1st Quarter Lundin Mining, CK Assets top the list
Martin Whitman's Third Avenue Value Fund (TAVFX) increased many holdings and established many several positions in the first quarter. Read more...
Third Avenue Exits Johnson Controls, Amgen Positions, Reduces PNC Firm's largest sales of the 1st quarter
Investment firm Third Avenue Management (Trades, Portfolio) sold shares of the following stocks during the first quarter. Read more...
8 Stocks Third Avenue Management Continues to Buy Lennar Corp, Warrior Met Coal top the list
Third Avenue Management (Trades, Portfolio) manages mutual funds, separate accounts and hedge funds. The firm bought shares in the following stocks in both second and first quarter of 2018. Read more...
Third Avenue Sells Brookdale, Reduces Ralph Lauren, Comerica Holdings The firm's largest 3rd-quarter sales
Martin Whitman (Trades, Portfolio)'s Third Avenue Management (Trades, Portfolio), an investment firm that manages mutual funds, separate accounts and hedge funds, reduced or exited its positions in the following companies in the third quarter: Read more...
Third Avenue Value Fund Sells PNC Financial, Masco Guru’s largest sales of the second quarter.
Third Avenue is a deep value investment firm. During the second quarter it sold shares of the following stocks. Read more...
» More Third Avenue Management Articles

Commentaries and Stories

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8 Stocks Third Avenue Management Continues to Buy Lennar Corp, Warrior Met Coal top the list Third Avenue Management - 8 Stocks Third Avenue Management Continues To Buy
Third Avenue Management (Trades, Portfolio) manages mutual funds, separate accounts and hedge funds. The firm bought shares in the following stocks in both second and first quarter of 2018. More...

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Third Avenue Management’s Forest City Realty Trust Soars on Merger Announcement Brookfield real estate investment fund announces agreement to acquire Forest City in $11.4 billion transaction Third Avenue Management - Third Avenue Management’s Forest City Realty Trust Soars On Merger Announcement
Forest City Realty Trust Inc. (NYSE:FCE.A), a major holding of Third Avenue Management (Trades, Portfolio), traded over 8% higher in Tuesday morning trading on a merger agreement with Brookfield Asset Management Inc. (NYSE:BAM). More...

THIRD AVENUE MANAGEMENT, MERGERS, REITS


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Third Avenue Management Picks Up 6 Stocks in 2nd Quarter Firm’s largest new position is in Hawaiian airline Third Avenue Management, Martin Whitman - Third Avenue Management Picks Up 6 Stocks In 2nd Quarter
Investment firm Third Avenue Management (Trades, Portfolio) released its second-quarter portfolio this week, listing six new positions. More...

THIRD AVENUE, MARTIN WHITMAN, BUYS, 2Q


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Third Avenue Boosts Five Point Holdings, Warrior Met Coal Positions Firm's largest buys of the 2nd quarter Third Avenue Management, Martin Whitman - Third Avenue Boosts Five Point Holdings, Warrior Met Coal Positions
Founded by legendary value investor Martin Whitman (Trades, Portfolio), Third Avenue Management (Trades, Portfolio) manages mutual funds, separate accounts and hedge funds. The following trades are its largest buys of the second quarter. More...

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Third Avenue Value Fund Sells PNC Financial, Masco Guru’s largest sales of the second quarter. Third Avenue Management - Third Avenue Value Fund Sells PNC Financial,  Masco
Third Avenue is a deep value investment firm. During the second quarter it sold shares of the following stocks. More...

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Third Avenue Exits Johnson Controls, Amgen Positions, Reduces PNC Firm's largest sales of the 1st quarter Third Avenue Management - Third Avenue Exits Johnson Controls, Amgen Positions, Reduces PNC
Investment firm Third Avenue Management (Trades, Portfolio) sold shares of the following stocks during the first quarter. More...

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Third Avenue Management's Largest Buys of the 1st Quarter Lundin Mining, CK Assets top the list Third Avenue Management,Martin Whitman - Third Avenue Management's Largest Buys Of The 1st Quarter
Martin Whitman's Third Avenue Value Fund (TAVFX) increased many holdings and established many several positions in the first quarter. More...

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Third Avenue Exits Cerner, Reduces Anixter, Bank of New York Mellon Firm's largest sales of the 4th quarter Third Avenue Management, Martin Whitman - Third Avenue Exits Cerner, Reduces Anixter, Bank Of New York Mellon
Third Avenue Management (Trades, Portfolio) was founded in 1986. The firm sold shares of the following stocks in the fourth quarter. More...

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Third Avenue Management Hitches Up With U-Haul Parent Amerco in 4th Quarter Firm announces three new buys in latest quarterly report Third Avenue Management, Martin Whitman - Third Avenue Management Hitches Up With U-Haul Parent Amerco In 4th Quarter
Third Avenue Management (Trades, Portfolio), founded by legendary value investor Martin Whitman (Trades, Portfolio), announced Wednesday it established three new positions during the quarter ended Dec. 31: Amerco Inc. (NASDAQ:UHAL), Warrior Met Coal Inc. (NYSE:HCC) and Aspen Insurance Holdings Ltd. (NYSE:AHL). More...

THIRD AVENUE MANAGEMENT, MARTIN WHITMAN


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Third Avenue Sells Brookdale, Reduces Ralph Lauren, Comerica Holdings The firm's largest 3rd-quarter sales Third Avenue Management, Martin Whitman - Third Avenue Sells Brookdale, Reduces Ralph Lauren, Comerica Holdings
Martin Whitman (Trades, Portfolio)'s Third Avenue Management (Trades, Portfolio), an investment firm that manages mutual funds, separate accounts and hedge funds, reduced or exited its positions in the following companies in the third quarter: More...

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Third Avenue Management Buys Energy Company and REIT in Q3 Value managers take on two new stocks, one fresh from bankruptcy Third Avenue Management - Third Avenue Management Buys Energy Company And REIT In Q3
Third Avenue Management (Trades, Portfolio) acquired only two stocks in the third quarter, according to its portfolio release Thursday. More...

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Third Avenue Buys Kimco, Tidewater, Adds to Several Other Positions The firm’s 7 largest buys of the 3rd quarter Third Avenue Management, Martin Whitman - Third Avenue Buys Kimco, Tidewater, Adds To Several Other Positions
Founded by Martin Whitman (Trades, Portfolio), Third Avenue Management (Trades, Portfolio) manages a portfolio of 111 stocks. During the third quarter, the firm bought the following stocks: More...

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Mario Cibelli Takes 3 New Positions in 2nd Quarter Guru invests in REIT, industrial distributor and brewer Mario Cibelli,Third Avenue Management,Manning & Na - Mario Cibelli Takes 3 New Positions In 2nd Quarter
Marathon Partners founder Mario Cibelli (TradesPortfolio) gained three new positions during the second quarter. He established positions in Macerich Co. (NYSE:MAC), HD Supply Holdings Inc. (NASDAQ:HDS) and Molson Coors Brewing Co. (NYSE:TAP). More...

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Third Avenue Comments on WesBanco Bank Guru stock highlight
WesBanco Bank (NASDAQ:WSBC) More...

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Third Avenue Comments on PDC Energy Guru stock highlight
PDC Energy (NASDAQ:PDCE) More...

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Third Avenue Comments on Haynes International Guru stock highlight
Haynes International (NASDAQ:HAYN) More...

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Third Avenue Comments on Finisar Corp Guru stock highlight
Finisar Corporation (NASDAQ:FNSR) More...

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Third Avenue Comments on AMN Healthcare Services Guru stock highlight
AMN Healthcare Services (NYSE:AMN) More...

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Third Avenue Small-Cap Value Fund 2nd Quarter 2017 Shareholder Letter Message from Chip Rewey from Marty Whitman's firm Third Avenue Management,Martin Whitman - Third Avenue Small-Cap Value Fund 2nd Quarter 2017 Shareholder Letter
In the second quarter, the broader market indices of the Russell 2000 Value, the S&P 500, the Nasdaq composite, etc., all continued to trade at or near all-time highs. While clearly we agree that there are pockets of high expectations in the broader market, The Third Avenue Small Cap Value Fund had an active quarter in new purchases, as our robust,repeatable and definable philosophy and idea origination processes led us to uncover and execute new positions. Given this seeming contradiction of a market reaching new highs and our enthusiasm for several new positions, we thought it would be timely to review our stock idea origination philosophy and process. More...

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Third Avenue Management Comments on Reliance Steel & Aluminum Guru stock highlight
New Position: Reliance Steel & Aluminum (NYSE:RS) Founded in the late 1930s, Reliance Steel & Aluminum (Reliance) has grown to become the largest metals service center in North America. Given the name of the company, one could be forgiven for thinking the company produces steel and aluminum. In actuality, as an operator of service centers, Reliance's business is providing essential value-added servicesand distribution for these metals, as well as brass, copper, titanium and other alloys, with more than 100,000 products offered. A few examples of the value-added services Reliance provides are slitting, laser cutting and electropolishing. The company operates a network of more than 300 locations across almost 40 states in the U.S.and a dozen countries. More...

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