Third Avenue Management Small-Cap Value Fund’s Q4 2022 Investor Letter

Third Avenue Management, an investment management company based in New York City, released its “Small-Cap Value Fund” fourth quarter 2022 investor letter. A copy of the same can be downloaded here. The fund returned 10.85% in the fourth quarter compared to an 8.42% rise for the Russell 2000 Value Index. In 2022, the Fund returned -1.82% compared to a decline of 14.48% for the benchmark index. In the Morningstar Small Cap Value category, the fund’s 2022 performance was ranked in the top 8% among 481 funds based on total returns. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.