Third Avenue Management
- Company typePrivate
- Founded1986
- HeadquartersNew York, United States
- Headcount11–50
- GTM typeB2B
- OfferingServices
Third Avenue Management firmographics
Firmographics- Name
- Third Avenue Management
- Legal name
- Third Avenue Management LLC
- Website
- https://thirdave.com
- Company type
- Private
- Founded year
- 1986
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Ownership category
- akta.pro rank
Third Avenue Management industry classification
Industry- Product category
- Asset Management
- NAICS
- Portfolio Management and Investment Advice (523940), Portfolio Management and Investment Advice (52394)
- SIC
- Investment Advice (6282)
- akta.pro primary industry
- Style Equity — Value (Active) (FSAAAIAH)
- akta.pro secondary industries
- Small-Cap Equity (Active) (FSAAAIAC), Advisory Portfolio Management (Non-Discretionary) (FSAAABAD)
Keywords
Where Third Avenue Management is headquartered
LocationHeadquarters
- HQ city
- New York
- HQ country
- United States
- HQ region
- North America
Offices3 records
Markets served
Third Avenue Management business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure, Others
Revenue model
- Investment Management Fees: Third Avenue Management generates revenue through advisory fees charged on assets under management across its mutual funds (Third Avenue Value Fund TAVFX/TVFVX/TAVZX, Third Avenue Small-Cap Value Fund TASCX/TVSVX/TASZX, Third Avenue Real Estate Value Fund TAREX/TVRVX/TARZX, Third Avenue International Real Estate Value Fund REIFX/REIZX), UCITS funds, separate accounts, and sub-advisory arrangements. Fees are calculated as a percentage of AUM and vary by strategy and share class.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Annual | Third Avenue Value Fund Institutional (TAVFX) — gross expense ratio 1.16% |
| Subscription | Annual | Third Avenue Value Fund Investor (TVFVX) — gross expense ratio 1.39% |
| Subscription | Annual | Third Avenue Value Fund Z Class (TAVZX) — gross expense ratio 1.09% |
| Subscription | Annual | Third Avenue Small-Cap Value Fund (TASCX) — gross/net expense ratio 1.26%/1.19% |
| Subscription | Annual | Third Avenue Real Estate Value Fund — gross/net expense ratio 1.18%/1.17% |
| Subscription | Annual | Third Avenue International Real Estate Value Fund — gross expense ratio 1.52% |
Go-to-market motion1 record
Distribution channels4 records
Marketing channels6 records
Third Avenue Management product offering
Product offeringCore offering
Third Avenue Management is a New York City-based registered investment adviser that manages over $1.4 billion across five core value-oriented strategies (Global Value, U.S. Small-Cap Value, Real Estate Value, International Real Estate Value, and International Value), offered through U.S. mutual funds, UCITS funds, separate accounts, and sub-advisory arrangements. The firm employs a disciplined, bottom-up, asset-based deep-value and distressed-investing philosophy — developed by founder Martin J. Whitman — that constructs concentrated portfolios of 35-40 high-conviction positions in publicly traded securities trading at significant discounts to conservative intrinsic value estimates.
Product overview
Third Avenue Management is a New York City-based asset manager that offers a suite of five core value-oriented investment strategies available through multiple vehicle types: Mutual Funds (TAVFX, TASCX, TAREX, REIFX, and International Value), Variable Series Trust sub-accounts, UCITS Funds for non-U.S. investors, Separate Accounts, and Sub-Advisory Arrangements. The firm's investment philosophy, developed by founder Martin J. Whitman, focuses on value investing through balance sheet analysis, financial strength, and investing in securities trading at significant discounts to intrinsic value. The funds are distributed by Foreside Fund Services, LLC, and the firm manages approximately $1.4 billion in assets across these strategies. The firm utilizes a Management Committee structure in place since 2002 and has partnered with Affiliated Managers Group (AMG).
Differentiator
Problem solved
Functional benefit
Products and services
- Third Avenue Value Fund (TAVFX) Global value mutual fund for institutional and individual investors seeking long-term capital appreciation through concentrated, contrarian, special-situation opportunities priced at significant discounts to intrinsic value.
- Third Avenue Small-Cap Value Fund (TASCX) U.S. small-cap value mutual fund for investors seeking exposure to high-quality small-cap businesses trading at deep discounts to intrinsic value, with a multi-decade track record.
- Third Avenue Real Estate Value Fund (TAREX) Global real estate value mutual fund targeting securities of well-capitalized REOCs and real estate enterprises trading at significant discounts to NAV, with low portfolio turnover and emphasis on long-term capital appreciation.
- Third Avenue International Real Estate Value Fund (REIFX) Non-U.S. listed real estate mutual fund for investors seeking long-term capital growth and current income from high-quality international real estate entities and special situations.
- Third Avenue International Value Fund Flexible international equity strategy for investors seeking differentiated, benchmark-agnostic exposure to non-U.S. deep-value opportunities with a long-term capital appreciation focus.
- Third Avenue Variable Series Trust (TAVST) Variable annuity sub-account vehicle offering Third Avenue's institutional-quality value investing strategies within insurance-wrapped annuity products.
- Third Avenue UCITS Funds UCITS-regulated fund vehicles providing non-U.S. investors access to Third Avenue's value investing strategies through regulated, onshore fund structures in the U.K., France, Switzerland, and Europe.
- Separate Accounts and Sub-Advisory Arrangements Customized institutional separate account and sub-advisory mandates applying Third Avenue's value strategies to client-specific portfolio objectives.
Quantifiable outcome
- Third Avenue Value Fund returned 7.29% in Q1 2026 while MSCI World Index fell -3.57%
- +6 more outcomes
Companies that use Third Avenue Management
Customer profileSegments3 records
Ideal customer profiles3 records
Third Avenue Management technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature2 records
Third Avenue Management partnerships and signals
Strategic signalPartnerships
Seven partnerships are on record, tiered core and strategic.
- RidgelinecoreThird Avenue Management successfully went live on Ridgeline's AI-enabled investment management platform, consolidating multiple legacy systems into a unified front-to-back platform for trading, compliance, accounting, reporting, and client servicing. The implementation reflects a broader industry trend of wealth and asset management firms seeking to reduce vendor complexity, centralize data, and leverage AI-driven automation.
- STP Investment ServicescoreSTP Investment Services is providing managed services for reconciliation and post-trade operations supporting Third Avenue's transition to Ridgeline's AI-enabled investment management platform.
- Longevity PartnersstrategicThird Avenue Management and Longevity Partners, a global multi-disciplinary energy and sustainability consultancy, formed a strategic relationship to strengthen Third Avenue's framework for assessing Environmental, Social, and Governance (ESG) factors within publicly-traded real estate securities.
- Perpetual LimitedstrategicIn November 2020, Barrow Hanley (affiliated with Third Avenue) entered into a strategic partnership with Perpetual Limited, an Australian financial services firm. This partnership provides an opportunity to offer proven investment strategies to Australian, Asian and Pan-Pacific retail and institutional investors. Perpetual Limited is listed on the ASX and provides wealth management, asset management, and corporate trust services.
- GemCap Investment Funds (Ireland) PlcstrategicGemCap Investment Funds (Ireland) Plc is one of the leading UCITS fund platforms in Ireland. The addition of Third Avenue Management as an investment manager pushed assets under management on the platform to over $1 billion. GemCap was subsequently rebranded as Ascender Fund Partners.
- BNY Mellon Inc.coreBNY Mellon Inc. serves as Third Avenue Funds' service provider, providing shareholder services, account access, and fund administration. Investors contact BNY Shareholder Services at (800) 443-1021 or access accounts through BNY's client portal (my.accessportals.com).
- Foreside Fund Services, LLCcoreForeside Fund Services, LLC is the registered distributor of Third Avenue Funds. The firm facilitates mutual fund distribution and sales through its broker-dealer network.
Scale indicators9 records
Recent moves7 records
Expansion highlights5 records
Third Avenue Management competitors and assessment
Company assessmentDirect peers
- Pzena Investment Management: Public asset manager specializing in deep-value global equities with a concentrated, fundamental, bottom-up approach — directly comparable to Third Avenue's Global Value franchise in philosophy, structure, and target institutional client base.
- Ariel Investments: Mid-sized U.S. value-oriented asset manager running concentrated, fundamentally-driven equity strategies for institutional and intermediary clients — directly comparable to Third Avenue in style discipline and product set.
- Cohen & Steers: Public specialist in listed real estate securities and real-asset strategies. Directly competes with Third Avenue's Real Estate Value and International Real Estate Value funds for institutional real estate allocations.
- Royce Investment Partners: Specialist small-cap value manager running concentrated portfolios of high-conviction names using a fundamental, balance-sheet-aware approach — the closest direct peer to Third Avenue Small-Cap Value Fund.
- Longleaf Partners: Southeastern Asset Management's value equity franchise, running concentrated, benchmark-agnostic global value portfolios with a long-term horizon and asset-based valuation discipline — directly comparable philosophy to Third Avenue's Global Value.
- First Pacific Advisors: Los Angeles-based value-oriented asset manager with concentrated equity and fixed-income strategies, comparable to Third Avenue's deep-value, high-Active-Share approach and intermediary distribution model.
- Dodge & Cox: San Francisco-based value manager with concentrated, fundamental, long-term equity strategies — closely comparable to Third Avenue in philosophy, fund structure (mutual funds), and institutional/intermediary client mix.
- Manning & Napier: Mid-sized multi-strategy asset manager with value-oriented equity and multi-asset strategies distributed through institutional and intermediary channels — comparable to Third Avenue in size, structure, and product breadth.
Broad incumbents
- Heitman: Larger, established real estate investment manager with global public and private real estate strategies — a broader incumbent overlapping with Third Avenue's Real Estate Value and International Real Estate Value franchises.
- Lazard Asset Management: Large, established global asset manager with multiple value-oriented equity strategies serving institutional clients worldwide — a broader incumbent competing for institutional value mandates alongside Third Avenue.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights6 records
Customer concentration
Third Avenue Management social profiles
Digital presenceThird Avenue Management financial estimates
Financial estimateRevenue estimate
Valuation estimate
Third Avenue Management leadership team
Management profileNumber of profiles
Profiles18 records
Third Avenue Management funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Third Avenue Management M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Third Avenue Management
What does Third Avenue Management do?
Third Avenue Management is a New York City-based registered investment adviser that manages over $1.4 billion across five core value-oriented strategies (Global Value, U.S. Small-Cap Value, Real Estate Value, International Real Estate Value, and International Value), offered through U.S. mutual funds, UCITS funds, separate accounts, and sub-advisory arrangements. The firm employs a disciplined, bottom-up, asset-based deep-value and distressed-investing philosophy — developed by founder Martin J. Whitman — that constructs concentrated portfolios of 35-40 high-conviction positions in publicly traded securities trading at significant discounts to conservative intrinsic value estimates.
Is Third Avenue Management a public or private company?
Third Avenue Management is a private company. It is classified as venture growth investor backed and is currently operating.
When was Third Avenue Management founded?
Third Avenue Management was founded in 1986. It employs 11 to 50 people.
Where is Third Avenue Management based?
Third Avenue Management is headquartered in New York, United States, in the North America region.
How does Third Avenue Management make money?
One revenue line is on record: investment Management Fees.
Who are Third Avenue Management's main competitors?
Direct peers on record are Pzena Investment Management, Ariel Investments, Cohen & Steers, Royce Investment Partners, Longleaf Partners, First Pacific Advisors, Dodge & Cox and Manning & Napier. Broad incumbents are Heitman and Lazard Asset Management.
Does Third Avenue Management have an API?
No public API is recorded for Third Avenue Management.
What industry is Third Avenue Management in?
Third Avenue Management's product category is Asset Management. Its primary akta.pro industry code is FSAAAIAH, Style Equity — Value (Active), with a secondary code of FSAAAIAC, Small-Cap Equity (Active). Its NAICS code is 523940 and its SIC code is 6282.