THIRD AVENUE VALUE FUND
Name
As of 05/02/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Vitals
YTD Return
8.1%
1 yr return
21.7%
3 Yr Avg Return
12.8%
5 Yr Avg Return
14.1%
Net Assets
$745 M
Holdings in Top 10
53.4%
52 WEEK LOW AND HIGH
Expenses
OPERATING FEES
Expense Ratio 1.47%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 18.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$2,500
IRA
$2,500
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 05/02/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
TVFVX - Profile
Distributions
- YTD Total Return 8.1%
- 3 Yr Annualized Total Return 12.8%
- 5 Yr Annualized Total Return 14.1%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 1.19%
- Dividend Yield 1.8%
- Dividend Distribution Frequency Annual
Fund Details
-
Legal NameTHIRD AVENUE VALUE FUND
-
Fund Family NameThird Avenue Funds
-
Inception DateDec 31, 2009
-
Shares OutstandingN/A
-
Share ClassInvestor
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerMatthew Fine
Fund Description
The Fund seeks to achieve its objective mainly by acquiring common stocks of well-financed companies (meaning companies with high quality assets and conservative levels of liabilities) at a discount to what Third Avenue Management LLC (the “Adviser”) believes is their intrinsic value. Adhering to this strict value discipline, the Fund generally seeks to construct a focused portfolio of high conviction opportunities. The Fund may invest in companies of any market capitalization and across all industries. The Fund may also acquire senior securities, such as convertible securities, preferred stocks and debt instruments (including high-yield and distressed securities, often referred to as “junk,” that may be in default and may have any or no credit rating) that the Adviser believes are undervalued. The Fund also invests in both domestic and foreign securities.
TVFVX - Performance
Return Ranking - Trailing
Period | TVFVX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 8.1% | -44.3% | 9.5% | 1.92% |
1 Yr | 21.7% | -51.1% | 24.7% | 2.58% |
3 Yr | 12.8%* | -6.4% | 28.0% | 35.14% |
5 Yr | 14.1%* | -4.2% | 18.3% | 83.20% |
10 Yr | 7.3%* | 1.0% | 13.7% | 82.14% |
* Annualized
Return Ranking - Calendar
Period | TVFVX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 15.1% | -50.5% | 18.8% | 2.03% |
2022 | 11.2% | -27.4% | 103.5% | 89.51% |
2021 | 17.9% | 3.5% | 66.4% | 97.86% |
2020 | 6.9% | -64.5% | 5.6% | 81.75% |
2019 | 6.5% | -9.3% | 49.7% | 95.28% |
Total Return Ranking - Trailing
Period | TVFVX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 8.1% | -44.3% | 9.5% | 1.92% |
1 Yr | 21.7% | -51.1% | 24.7% | 2.58% |
3 Yr | 12.8%* | -6.4% | 28.0% | 33.78% |
5 Yr | 14.1%* | -4.2% | 18.3% | 81.60% |
10 Yr | 7.3%* | 1.0% | 13.7% | 80.95% |
* Annualized
Total Return Ranking - Calendar
Period | TVFVX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 19.8% | -50.6% | 18.8% | 2.03% |
2022 | 17.1% | -27.4% | 103.5% | 89.51% |
2021 | 22.1% | 3.5% | 66.4% | 97.86% |
2020 | 7.5% | -64.5% | 5.6% | 90.48% |
2019 | 12.6% | -9.3% | 53.2% | 97.17% |
NAV & Total Return History
TVFVX - Holdings
Concentration Analysis
TVFVX | Category Low | Category High | TVFVX % Rank | |
---|---|---|---|---|
Net Assets | 745 M | 2.31 M | 71.6 B | 24.38% |
Number of Holdings | 30 | 31 | 9561 | 98.13% |
Net Assets in Top 10 | 395 M | 452 K | 5.44 B | 19.38% |
Weighting of Top 10 | 53.37% | 4.2% | 63.4% | 8.13% |
Top 10 Holdings
- Dreyfus Treasury Securities Cash Management 15.16%
- Warrior Met Coal Inc 5.76%
- Capstone Copper Corp 5.03%
- easyJet PLC 4.33%
- Bayerische Motoren Werke AG 4.15%
- Tidewater Inc 4.05%
- Ultrapar Participacoes SA 3.94%
- Deutsche Bank AG 3.83%
- Bank of Ireland Group PLC 3.72%
- Buzzi SpA 3.39%
Asset Allocation
Weighting | Return Low | Return High | TVFVX % Rank | |
---|---|---|---|---|
Stocks | 83.66% | 40.59% | 104.41% | 76.25% |
Cash | 16.34% | -4.41% | 47.07% | 6.25% |
Preferred Stocks | 0.00% | 0.00% | 1.04% | 36.88% |
Other | 0.00% | -7.94% | 19.71% | 52.50% |
Convertible Bonds | 0.00% | 0.00% | 7.55% | 30.00% |
Bonds | 0.00% | 0.00% | 8.07% | 33.13% |
Stock Sector Breakdown
Weighting | Return Low | Return High | TVFVX % Rank | |
---|---|---|---|---|
Basic Materials | 23.47% | 0.00% | 26.39% | 1.25% |
Industrials | 21.99% | 0.00% | 53.77% | 66.25% |
Financial Services | 21.15% | 0.00% | 75.07% | 5.63% |
Energy | 14.37% | 0.00% | 36.56% | 8.75% |
Consumer Cyclical | 12.26% | 0.00% | 71.20% | 49.38% |
Real Estate | 3.73% | 0.00% | 43.48% | 25.00% |
Consumer Defense | 2.43% | 0.00% | 52.28% | 76.25% |
Technology | 0.30% | 0.00% | 93.40% | 98.13% |
Healthcare | 0.16% | 0.00% | 28.38% | 87.50% |
Communication Services | 0.11% | 0.00% | 23.15% | 85.63% |
Utilities | 0.03% | 0.00% | 70.33% | 61.25% |
Stock Geographic Breakdown
Weighting | Return Low | Return High | TVFVX % Rank | |
---|---|---|---|---|
Non US | 61.38% | 12.39% | 83.06% | 8.13% |
US | 22.28% | 6.76% | 79.19% | 91.88% |
TVFVX - Expenses
Operational Fees
TVFVX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 1.47% | 0.43% | 2.93% | 30.00% |
Management Fee | 0.90% | 0.30% | 1.25% | 63.13% |
12b-1 Fee | 0.25% | 0.00% | 1.00% | 24.69% |
Administrative Fee | N/A | 0.03% | 0.15% | 1.64% |
Sales Fees
TVFVX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | N/A | 2.50% | 5.75% | N/A |
Deferred Load | N/A | 1.00% | 4.00% | N/A |
Trading Fees
TVFVX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | N/A | 1.00% | 2.00% | 78.79% |
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.
TVFVX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 18.00% | 7.00% | 145.00% | 12.59% |
TVFVX - Distributions
Dividend Yield Analysis
TVFVX | Category Low | Category High | TVFVX % Rank | |
---|---|---|---|---|
Dividend Yield | 1.75% | 0.00% | 14.18% | 41.88% |
Dividend Distribution Analysis
TVFVX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Annual | Annually | Annually | Annually |
Net Income Ratio Analysis
TVFVX | Category Low | Category High | TVFVX % Rank | |
---|---|---|---|---|
Net Income Ratio | 1.19% | -1.92% | 6.98% | 8.28% |
Capital Gain Distribution Analysis
TVFVX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Distributions History
Date | Amount | Type |
---|---|---|
Dec 13, 2023 | $2.559 | OrdinaryDividend |
Dec 14, 2022 | $2.957 | OrdinaryDividend |
Dec 11, 2020 | $0.213 | OrdinaryDividend |
Dec 13, 2019 | $2.241 | OrdinaryDividend |
Dec 19, 2018 | $0.039 | OrdinaryDividend |
Dec 20, 2017 | $1.450 | OrdinaryDividend |
Dec 14, 2016 | $0.300 | OrdinaryDividend |
Dec 08, 2015 | $0.613 | OrdinaryDividend |
Dec 18, 2013 | $1.797 | OrdinaryDividend |
Dec 18, 2012 | $1.238 | OrdinaryDividend |
Dec 20, 2011 | $0.686 | OrdinaryDividend |
Dec 21, 2010 | $0.903 | OrdinaryDividend |
TVFVX - Fund Manager Analysis
Managers
Matthew Fine
Start Date
Tenure
Tenure Rank
Sep 19, 2017
4.7
4.7%
Mr. Fine joined Third Avenue in 2000 and began working with Third Avenue’s international team in an effort to identify investment opportunities in the wake of the Argentine crisis of 2001. Mr. Fine has extensive global investment experience across developed and developing markets throughout North America, Latin America, Europe and Asia. Mr. Fine joined Third Avenue’s research and portfolio management team as a research associate, the first position typically held by Third Avenue’s internally developed talent. He became a senior research analyst in 2008, a principal of the firm in 2009 and lead portfolio manager of the Third Avenue International Value Fund in 2014. Mr. Fine holds a B.A. in Economics from Hamilton College. He is a CFA Charterholder, a member of the New York Society of Security Analysts and a member of the Board of Trustees of Suffield Academy.
Tenure Analysis
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.08 | 39.6 | 7.02 | 9.33 |