Third Avenue Small-Cap Value Fund
TASCX
Overview
Objective
Third Avenue Small-Cap Value Fund seeks long-term capital appreciation by investing in well-capitalized, North American, small-cap securities that we believe are mispriced by the market. The portfolio is constructed with an aim to deliver attractive risk-adjusted returns over time.
Description
The Fund invests in a concentrated portfolio of U.S. small-cap companies that Third Avenue believes are mispriced relative to conservative estimates of intrinsic value.
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Deep value, NAV-focused investment approach: Derived from Third Avenue’s value-oriented discipline, the strategy emphasizes well-managed, financially strong companies with the potential to compound net asset value over time, purchased at discounts to intrinsic value.
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High-conviction, actively managed portfolio: Maintains a concentrated portfolio of approximately 30 holdings with high active share, reflecting the portfolio managers’ strongest investment convictions.
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Long-term, fundamental security selection: Employs a bottom-up research process focused on balance sheet strength, business quality, and valuation, with a patient investment horizon and disciplined portfolio construction.
Firm Overview
Founded in 1986, Third Avenue Management is a New York City-based asset manager that utilizes a disciplined, value-oriented, and asset-based approach to investing in publicly traded securities.
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.
Third Avenue offers multiple investment solutions focused on the team’s highest-conviction ideas, an approach that leads to high Active Share across our portfolios.
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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 it may be obtained by calling 800-443-1021 or visiting www.thirdave.com. Read it carefully before investing.
Distributor of Third Avenue Funds: Foreside Fund Services, LLC.