Third Avenue Management Q3 Investor Letter – Value Fund

Third Avenue Management, founded by Martin Whitman, is a New York-based investment fund that employs a deep value investing strategy to pick stocks.

For the three months ending September 30, the Third Avenue Value Fund reported returns of 2.88%, compared to returns of 4.96% by MSCI World Index for the same period.

TAVFX is Third Avenue’s flagship mutual fund strategy focusing on investing in undervalued securities across industries, regions and market capitalizations. The strategy identifies “stocks trading below their intrinsic value that compound asset values at double-digit rates,” according to Third Avenue’s website.

You can download a copy of Third Avenue’s Q3 value letter here.