Third Avenue Value Fund

Inception: November 1990

Matthew Fine, CFA | Portfolio Manager

Our strategy seeks long term capital appreciation by investing opportunistically across a global universe of sectors, geographies and security types to build a differentiated portfolio of contrarian and special-situation opportunities. Investments are generally characterized by strong financial positions, valuation supported by tangible assets and market prices substantially below our estimate of intrinsic business value.

Opportunistic. Eclectic. Go Anywhere.

The Value strategy’s flexible mandate takes a global, all-cap equities approach and allows for opportunistic investments in credit securities across the capital structure. Opportunities are evaluated with sharp focus on financial strength, ability to compound NAV, and priced at a significant discount to our conservative estimate of NAV.

Third Avenue Funds are distributed by Foreside Fund Services, LLC.  Investors should consider the investment objectives, risks, charges and expenses carefully before investing. Third Avenue Funds are offered by prospectus only.  The prospectuses and summary prospectuses are available on this website or by calling (212) 906-1160.  Read the prospectus or summary prospectus carefully before investing. 

1 Active Share is the percentage of a fund’s portfolio that differs from the benchmark index. The MSCI World Index is an unmanaged, free float-adjusted market capitalization weighted index that is designed to measure the equity market performance of 23 of the world’s most developed markets.

Indices are not securities that can be purchased or sold, and their total returns are reflective of unmanaged portfolios. The returns include reinvestment of interest, capital gains and dividends.

Active Management, High Active Share


Active Share vs. MSCI World Index1


Total Equity Holdings
Figures above are as of December 31, 2019

Fund Information

Quarterly Fund Fact Sheet
Quarterly Fund Commentary/Shareholder Letter
Summary Prospectus

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