Third Avenue Management Small-Cap Value Fund’s Q4 2021 Investor Letter

Third Avenue Management, an investment management firm, published its “Small-Cap Value Fund” fourth quarter 2021 investor letter – a copy of which can be downloaded here. The Third Avenue Small-Cap Value Fund (the “Fund”) rose 5.53% during the fourth quarter of 2021 versus a rise of 4.36% for the Fund’s most relevant benchmark, the Russell 2000 Value Index (the “Index”). In 2021, the Fund was up 25.84% versus a rise of 28.27% for the Index. Spare some time to check the fund’s top 5 holdings to have a clue about their top bets for 2022.