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TAVFX Third Avenue Value Instl

  • Fund
  • TAVFX
  • Price as of: Aug 08, 2016
  • $51.48
  • + $0.06
  • + 0.12%
  • Category
  • Global Equities

TAVFX - Profile

Vitals

  • YTD Return 7.1%
  • 3 Yr Annualized Return 2.7%
  • 5 Yr Annualized Return 4.2%
  • Net Assets $1.22 B
  • Holdings in Top 10 45.5%

52 WEEK LOW AND HIGH

$51.48
$40.45
$55.55

Expenses

OPERATING RELATED FEES

  • Expense Ratio 1.09%

SALES FEES

  • Front Load N/A
  • Deferred Load N/A

BROKERAGE FEES

  • Turnover 24.00%

TRADING FEES

  • Max Redemption Fee 1.00%

Min Investment

STANDARD (TAXABLE)

$100,000

IRA

$100,000

Investment Themes

CATEGORY

Global Equities
  • Fund Type Open End Mutual Fund
  • Investment Style World Stock

Distributions

  • YTD Total Return 7.1%
  • 3 Yr Annualized Total Return 2.7%
  • 5 Yr Annualized Total Return 4.2%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 0.76%
DIVIDENDS
  • Dividend Yield 1.9%
  • Dividend Distribution Frequency Annually

Fund Details

  • Legal Name Third Avenue Value Fund
  • Fund Family Name Third Avenue
  • Inception Date Nov 01, 1990
  • Shares Outstanding N/A
  • Share Class Inst
  • Currency USD
  • Domiciled Country United States
  • Manager Victor Cunningham

TAVFX - Performance

Return Ranking - Trailing

Period TAVFX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD 7.1% -62.4% 213.1% 18.26% 1
1 Yr -1.2% -18.8% 17.6% 51.52% 3
3 Yr 2.7% * -9.2% 24.1% 85.06% 5
5 Yr 4.2% * -8.0% 19.6% 83.63% 5
10 Yr 2.4% * -2.7% 15.9% 87.82% 5

* Annualized


Return Ranking - Calendar

Period TAVFX Return Category Return Low Category Return High Rank in Category (%) Quintile
2015 -15.3% -27.7% 17.2% 91.61% 5
2014 N/A -4.6% 1.7% N/A N/A
2013 N/A 20.2% 28.5% N/A N/A
2012 N/A 15.8% 19.5% N/A N/A
2011 N/A -18.1% -8.4% N/A N/A

Total Return Ranking - Trailing

Period TAVFX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD 7.1% -62.4% 213.1% 18.77% 2
1 Yr -1.2% -22.8% 17.6% 42.71% 3
3 Yr 2.7% * -10.3% 24.1% 81.30% 5
5 Yr 4.2% * -8.5% 19.6% 81.69% 5
10 Yr 2.4% * -2.8% 15.9% 86.97% 5

* Annualized


Total Return Ranking - Calendar

Period TAVFX Return Category Return Low Category Return High Rank in Category (%) Quintile
2015 -15.3% -27.7% 17.2% 91.51% 5
2014 N/A -4.6% 3.4% N/A N/A
2013 N/A 25.8% 30.6% N/A N/A
2012 N/A 20.7% 22.8% N/A N/A
2011 N/A -17.1% -6.8% N/A N/A

NAV & Total Return History

TAVFX - Holdings

Filings data as of: Apr 30, 2016

Concentration Analysis

TAVFX Category Low Category High TAVFX % Rank Quintile
Net Assets 1.22 B 855 K 83.8 B 4.54% 2
Number of Holdings 43 1 7464 13.99% 4
Net Assets in Top 10 582 M 0 16.6 B 3.59% 1
Weighting of Top 10 45.5% 0.0% 122.5% 6.43% 2

Top 10 Holdings

  1. Bank of New York Mellon Corp 6.65%
  2. Cavco Industries Inc 4.58%
  3. Comerica Inc 6.10%
  4. Weyerhaeuser Co 6.47%
  5. CK Hutchison Holdings Ltd 3.48%
  6. White Mountains Insurance Group Ltd 3.62%
  7. CBS Corp Class B 3.45%
  8. PNC Financial Services Group Inc 4.09%
  9. Total SA 3.55%
  10. Brookfield Asset Management Inc Class A 3.51%

Asset Allocation

Weighting Category Low Category High TAVFX % Rank Quintile
Stocks
94.01% 0.00% 132.91% 17.67% 4
Cash
4.66% -35.60% 102.01% 9.17% 2
Other
1.33% -2.42% 40.46% 8.32% 2
Convertible Bonds
0.00% 0.00% 29.88% 1.70% 1
Preferred Stocks
0.00% 0.00% 11.82% 4.44% 2
Bonds
0.00% 0.00% 89.93% 5.10% 2

Stock Sector Breakdown

Weighting Category Low Category High TAVFX % Rank Quintile
Financial Services
27.30% 0.00% 42.47% 1.04% 1
Consumer Cyclical
16.20% 0.00% 45.84% 7.19% 2
Industrials
13.02% 0.00% 88.01% 9.93% 2
Basic Materials
11.46% 0.00% 30.32% 1.23% 1
Energy
8.77% 0.00% 53.25% 3.88% 1
Real Estate
6.96% 0.00% 97.86% 2.74% 1
Healthcare
4.23% -0.02% 48.64% 24.60% 5
Technology
3.52% 0.00% 64.20% 26.02% 5
Communication Services
2.53% -1.23% 84.85% 18.83% 4
Consumer Defense
0.00% 0.00% 58.04% 28.00% 5
Utilities
0.00% 0.00% 83.58% 17.31% 4

Stock Geographic Breakdown

Weighting Category Low Category High TAVFX % Rank Quintile
US
68.92% 0.00% 126.77% 1.51% 1
Non US
25.09% 0.00% 97.75% 28.64% 5

TAVFX - Expenses

Operational Fees

TAVFX Fees (% of AUM) Category Low Category High Rank in Category (%) Quintile
Expense Ratio 1.09% 0.00% 323.68% 24.01% 2
Management Fee 0.90% 0.00% 1.95% 2.37% 4
12b-1 Fee N/A 0.00% 1.00% N/A N/A
Administrative Fee N/A 0.01% 0.45% N/A N/A

Sales Fees

TAVFX Fees (% of AUM) Category Low Category High TAVFX Rank Quintile
Front Load N/A 0.00% 5.75% N/A N/A
Deferred Load N/A 1.00% 5.00% N/A N/A

Trading Fees

TAVFX Fees (% of AUM) Category Low Category High TAVFX Rank Quintile
Max Redemption Fee 1.00% 0.08% 2.00% 1.08% 1

Turnover Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

TAVFX Fees (% of AUM) Category Low Category High TAVFX Rank Quintile
Turnover 24.00% 2.00% 1876.00% 14.14% 1

TAVFX - Distributions

Dividend Yield Analysis

TAVFX Category Low Category High TAVFX % Rank Quintile
Dividend Yield 1.9% 0.00% 2.38% 0.25% 1

Dividend Distribution Analysis

TAVFX Category Low Category High Category Mode
Dividend Distribution Frequency Annually Annually Monthly Annually

Dividend Payout History


Net Income Ratio Analysis

TAVFX Category Low Category High TAVFX % Rank Quintile
Net Income Ratio 0.76% -1.92% 6.32% 20.60% 3

Capital Gain Distribution Analysis

TAVFX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Daily Annually

TAVFX - Managers

Victor Cunningham

Manager

Start Date

Jan 02, 2013

Tenure

3.58

Tenure Rank

6.4%

Mr. Cunningham is a Portfolio Manager for the Third Avenue Value Fund, Third Avenue Value Fund UCITS, Third Avenue Variable Series Trust and subadvised portfolios. He joined Third Avenue in 2012. Previously he was founder and owner of Lucid Asset Management where he spent six years running his own long-only value fund catering to high net worth individuals and institutions. Prior to forming Lucid, Mr. Cunningham spent five years as the Research Director at Olstein Funds.


Yang Lie

Manager

Start Date

Jan 02, 2013

Tenure

3.58

Tenure Rank

6.4%

"Ms. Lie is a Portfolio Manager for the Third Avenue Value Fund, Third Avenue Value Fund UCITS, Third Avenue Variable Series Trust and sub-advised portfolios. She joined Third Avenue in 1996 and helped develop the firm's high net worth and institutional separate account business. Previously she was an equity analyst at Prudential Securities where she covered technology and imaging stocks. Ms. Lie began her career at Motorola where she managed a team of software engineers and developed both software and hardware components for encryption key management systems. "


Robert L. Rewey

Manager

Start Date

Jun 10, 2014

Tenure

2.14

Tenure Rank

8.0%

"Mr. Rewey is the leader of Third Avenue’s Value and Small-Cap Teams, serving as the Lead Portfolio Manager for the Third Avenue Value and Small-Cap Value Funds. Before he joined Third Avenue, Mr. Rewey spent more than ten years at Cramer Rosenthal McGlynn, LLC as a Senior Vice President and Senior Portfolio Manager where he oversaw the firm’s smid, mid, large and all cap investment strategies. "


Tenure Analysis

Category Low

0.0

Category High

33.9

Category Average

5.53

Category Mode

1.6