Opportunistic, bottom-up, value investors since 1986

From LSEG Lipper Fund Award^©2024 LSEG. All rights reserved. Used under license.

Opportunistic, bottom-up, value investors since 1986

what makes third avenue unique

From LSEG Lipper Fund Award^©2024 LSEG. All rights reserved. Used under license.

corporate clients

aBOUT US

Differentiated, price-conscious, fundamental investing, without compromise

History

Founded in 1986, Third Avenue Management is a NYC-based asset manager that utilizes a disciplined, value-oriented, and asset-based approach to investing in publicly traded securities.

Philosophy

Rooted in our founder Marty Whitman's time-tested philosophy, Third Avenue adheres to a value approach when evaluating commercial enterprises and the securities they issue.

Strategies

Third Avenue offers multiple investment solutions focused on the team's highest-conviction ideas, an approach that leads to high Active Share¹ across our portfolios.

aBOUT US

What makes Third Avenue Unique

aBOUT US

We specialize in value-oriented investment strategies, targeting well-capitalized enterprises with discounted securities and long-term wealth creation potential

We specialize in value-oriented investment strategies, targeting well-capitalized enterprises with discounted securities and long-term wealth creation potential. Third Avenue’s differentiated portfolios are available to investors through Mutual Funds, Managed Accounts and UCITS Funds.

History

Founded in 1986, Third Avenue Management is a NYC-based asset manager that utilizes a disciplined and value-oriented approach to investing in publicly traded securities.

Philosophy

Rooted in our founder Marty Whitman's time-tested philosophy, Third Avenue adheres to a value approach when evaluating commercial enterprises and the securities they issue.

Strategies

Third Avenue’s differentiated investment solutions focus on the team’s highest-conviction ideas, an approach that leads to high Active Share¹.

What Makes Third Avenue Unique

We invite you to gain a deeper understanding of Third Avenue’s value-oriented strategies through a short video: What Makes Third Avenue Unique.

explore our strategIES

Third Avenue offers a range of investment options across Mutual Funds, Managed Accounts, and UCITS Funds

Global Value

Small-Cap Value

Real Estate Value

International Real Estate Value

International Value

Our team

Long Tenured Management Team

VIEW THE FULL TEAM

Adam Ermanis

Managing Director, Client Service

Martha E. Fox

Chief Compliance Officer

Ashwin Iyer

Controller

Eileen Parrott

Mutual Fund Controller

Andrea D'Amore

Associate Director of Compliance

Ryan Korby, CFA

Senior Research Analyst

Adam Dukoff

Research Analyst

Christopher Dowd

Research Analyst

Larry Hedden, CFA

Research Analyst

Christopher LaRegina

Director, Business Development and Head of Digital Strategy

Erik C. Kleinbeck

Head of Business Development

Michael Warlan, CFA, CAIA

Head of Trading and Operations

Joseph Dell

Chief Technology Officer & Chief Information Security Officer

Doug Cohen

Head of Risk and Analytics

Michael Buono

Chief Financial Officer

Jason Wolf, CFA

Portfolio Manager, Real Estate

Quentin Velleley, CFA

Portfolio Manager, International Real Estate

Matthew Fine, CFA

Portfolio Manager, Value

Ryan Dobratz, CFA

Portfolio Manager, Real Estate

Recent NEWS

Media and News

Third Avenue Real Estate Value Fund Named Best Global Real Estate Fund by LSEG Lipper

The Awards Recognize the Fund for Consistently Strong Risk-Adjusted Performance Relative to its Peers over Three and Five Years. The 2025 Distinction Marks the Team’s Seventh Time Receiving a Lipper Award in the Category.

Real Estate Value

The Case for Expanding Beyond REITs

Overview and insights for 2025

December 24, 2024

Matthew Fine, Value Fund PM, featured in Barron’s: Subaru Cars Have a Cult U.S. Following. Its Stock Is a Bargain.

Read the full article on Barron's.

November 27, 2024

Real Estate Value

Ryan Dobratz Featured on “The Business Brew” Podcast discussing his career journey, Third Ave's differentiated approach, and the team's distinctive views on office, residential and the REIT structure.

In this insightful episode of “The Business Brew”, host Bill Brewster sits down with Ryan Dobratz, Portfolio Manager of the Third Avenue Real Estate Value Fund, to delve into the firm’s distinct approach to real estate investing.

November 14, 2024

International Real Estate Value

Quentin Velleley on International Real Estate: Key Opportunities in Resource Conversions, Self-Storage, Nearshoring

International Real Estate: Overview and Insights 2024

November 6, 2024

Matthew Fine Featured on “Value: After Hours” Podcast Discussing Global Value Investing

In a recent episode of Value: After Hours, Third Avenue's Matt Fine, Portfolio Manager of the Third Avenue Value Fund, joined hosts Tobias Carlisle and Jake Taylor to discuss the current market dynamics, the evolution of value investing, and insights into the distinctive investment philosophy pioneered by Third Avenue's founder, Marty Whitman. Fine shared his journey of joining Third Avenue during the dot-com bubble, a period that taught him invaluable lessons about fundamental value investing amid market extremes.

¹Active Share is the percentage of a fund’s portfolio that differs from the benchmark index.

New York
675 Third Avenue, Suite 2900-05
New York, NY 10017

AUSTIN
500 W. 2nd St, Suite 1900
Austin, TX 78701

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© 2023 Third Avenue Asset Management.

© 2025 Third Avenue Management LLC
‍Distributor of Third Avenue Funds: Foreside Fund Services, LLC. Mutual fund investing involves risks, including the potential loss of principal.
The fund's investment objectives, risks, charges, and expenses must be considered carefully before investing. The prospectus contains this and other important information about the investment company, and is available here. Read it carefully before investing.

The LSEG Lipper Fund Awards, granted annually, highlight funds and fund companies that have excelled in delivering consistently strong risk-adjusted performance relative to their peers. The LSEG Lipper Fund Awards are based on the Lipper Leader for Consistent Return rating, which is a risk-adjusted performance measure calculated over 36, 60 and 120 months. The fund with the highest Lipper Leader for Consistent Return (Effective Return) value in each eligible classification wins the LSEG Lipper Fund Award. The 2025 LSEG Lipper Fund Awards for the Best Global Real Estate Fund Over Three Years and Best Global Real Estate Fund Over Five Years were based upon on a review of 135 and 131 qualified shares classes that were eligible in the United States, respectively. For more information, see lipperfundawards.com. Although LSEG makes reasonable efforts to ensure the accuracy and reliability of the data contained herein, their accuracy is not guaranteed by LSEG Lipper.

From LSEG Lipper Fund Award ^©2025 LSEG. All rights reserved. Used under license.