Third Avenue Management LLC (New York)

Name: Third Avenue Management LLC
Address: 622 Third Ave, New York, NY, 10017 6715
Telephone: 212-888-5222

Third Avenue Management LLC is a large advisory firm based in New York. It manages $2.47 billion of regulatory assets for 19 client accounts. It has been registered with the SEC as an adviser since 2002 and has operated in the jurisdictions of Alabama, Alaska, Arizona, and 49 other states.

Third Avenue Management provides portfolio management for individuals and small businesses, portfolio management for investment companies, portfolio management for pooled investment vehicles, and portfolio management for businesses and institutional clients. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.

Third Avenue Management: assets under management

The assets under management (AUM) of Third Avenue Management LLC is $2.47 billion, all of which is managed in discretionary accounts. The firm's AUM has gone down by -36% since the beginning of its operation, and $188.38 million of the total AUM is attributable to clients outside of the United States.

The firm manages $2.47 billion in discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $130.09 million each.

Investments

The firm invests in exchange traded securities the most. They account for 97% of the total AUM. The second-largest asset type is cash and cash equivalents, which make up 3% of the firm’s portfolio.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Third Avenue Management LLC for their services and products based on a percentage of assets under management and performance-based fees. Compensation based on assets under management promotes a long-term relationship between a client and the adviser and helps align mutual interests. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Third Avenue Management serves?

The firm provides services to individuals, investment companies, and pooled investment vehicles. The largest group of clients of Third Avenue Management is investment companies with 4 clients and $2.24 billion of assets under management. Among the 10 most similar advisory firms, Third Avenue Management has the highest percentage of investment companies out of all clients.

The amount of regulatory assets under management is $2.41 billion for 17 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. 8% of the firm’s clients are foreign persons or businesses.

Third Avenue Management also advises several private funds. Namely, one hedge fund. The minimum investment commitment required of non-related persons is $1,000,000 for each fund.

Careers at Third Avenue Management LLC

The company employs 29 people that are either part- or full-time employees. 38 percent of the employees work as investment advisers or researchers. 3 employees are registered as investment adviser representatives with the state securities authorities.

There are 3 people with the role of looking for and bringing in new clients on behalf of the firm. The firm compensates employees in addition to the salary for bringing in new clients. Employees don’t receive compensation from other entities for client referrals.

Direct owners and executive officers

Name	Entity	Date acquired	Ownership	Employer ID
Matthew Paul Fine	Management committee member	1 Jan 2000	Other	3104810
Bruce G Boyle	Operations manager	1 Jul 2000	Other	1796066
Bruce George Boyle	Operations manager	1 Jul 2000	Other	1796066
Willard James Hall	General counsel & secretary	1 May 2002	Other	4210789
Third Avenue Holdings Delaware Llc	Equityholder of third avenue management llc	1 May 2002	75% - 100%	01-0690881
David Michael Barse	President, & coo	1 May 2002	Other	2218041
Michael Thomas Carney	Cfo	1 May 2002	Other	1568552
Martin Jacob Whitman	Chairman, ceo, cio	1 May 2002	Other	465763
Raymond Francis Ottusch	Director of compliance	1 May 2002	Other	2438748
Martin Jacob Whitman	Co-chief investment officer	1 Feb 2003	Other	465763
Curtis Jensen	Co-chief investment officer	1 Feb 2003	Other	2667477
Curtis Robert Jensen	Co-chief investment officer	1 Feb 2003	Other	2667477
David Michael Barse	Ceo	1 Apr 2003	Other	2218041
Jason Andrew Wolf	Management committee member	1 Apr 2004	Other	4798021
Heather E Garson	Chief compliance officer	1 Jun 2004	Other	4811669
Heather Elene Garson	Chief compliance officer	1 Jun 2004	Other	4811669
Vincent James Dugan	Chief financial officer/ chief operating officer	1 Aug 2004	Other	4863705
Michael Anthony Buono	Chief financial officer	1 Jan 2005	Other	2348674
Joseph John Reardon	Chief compliance officer	1 Apr 2005	Other	1841667
Ryan A Dobratz	Management committee member	1 Sep 2006	Other	5227861
David L Resnick	President & chief investment officer	1 Sep 2012	Other	1414531
Mark Jay Aaron	Chief operations officer	1 Jul 2017	Other	4850589

Indirect Owners

The SEC currently registers 5 indirect owners.

Name	Entity	Date acquired	Ownership	Employer ID
Amg New York Holdings Corp.	Equityholder of el-train acquisition llc	1 May 2002	75% - 100%	04-3546127
Inc. Affiliated Managers Group	Equityholder of amg new york holdings corp.	1 May 2002	75% - 100%	04-3218510
Eqsf Advisers Inc	100% ownership of third avenue holdings delaware llc	1 May 2002	75% - 100%	107545
Amg Ny Holdings Corp.	Equityholder of el-train acquisition llc	1 May 2002	75% - 100%	04-3546127
El Train Acquisition Llc	Equityholder and managing member of third avenue holdings delaware llc	1 Aug 2002	50% - 75%	04-3546127

Based in New York

The principal office where Third Avenue Management LLC performs its advisory services is located at 622 Third Ave, New York, NY 10017 6715, which is also the mailing address of the firm. An additional office of the firm is in Austin, TX. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 212-888-5222 or by fax 212-320-0589. The normal business hours are 9am to 5pm on Monday - Friday. You can find more information about the New York firm at thirdave.com.