{ "crd_number": 107545, "slug": "third-avenue-management-llc-new-york-ny-107545", "primary_business_name": "THIRD AVENUE MANAGEMENT LLC", "legal_name": "THIRD AVENUE MANAGEMENT LLC", "dbas": [], "city": "New York", "state": "NY", "country": "United States", "cbsa_code": "35620", "metro": { "cbsa_code": "35620", "common_name": "New York", "msa_name": "New York-Newark-Jersey City, NY-NJ", "path": "/advisors/ny/new-york" }, "registration_type": "sec", "registration_status": "Approved", "registration_date": "1986-08-29", "years_registered": 40, "period": "2026-10-01", "filing_date": "2026-03-27", "carried_forward": false, "raum_total": 1626400523.0, "raum_discretionary": 1626400523.0, "raum_non_discretionary": 0.0, "raum_band": "1b_5b", "raum_band_label": "$1 billion to $5 billion", "total_employees": 19, "advisory_employees": 8, "client_count_bucket": "fewer_than_5_in_some_types", "clients_by_type": { "charitable": { "raum": 1341436.0, "count": 1, "fewer_than_5": true }, "individuals": { "raum": 28523830.0, "count": 9 }, "investment_companies": { "raum": 1567599226.0, "count": 5 }, "pooled_investment_vehicles": { "raum": 28936031.0, "count": 2 } }, "compensation_types": [ "percentage_of_aum" ], "advisory_activities": [ "portfolio_management_businesses_institutional", "portfolio_management_individuals", "portfolio_management_investment_companies", "portfolio_management_pooled_vehicles" ], "wrap_fee_participant": true, "disclosure_yes_count": 0, "states_registered": [ "AK", "AL", "AR", "AZ", "CA", "CO", "CT", "DC", "DE", "FL", "GA", "HI", "IA", "ID", "IL", "IN", "KS", "KY", "LA", "MA", "MD", "ME", "MI", "MN", "MO", "MS", "MT", "NC", "ND", "NE", "NH", "NJ", "NM", "NV", "NY", "OH", "OK", "OR", "PA", "PR", "RI", "SC", "SD", "TN", "TX", "UT", "VA", "VI", "VT", "WA", "WI", "WV", "WY" ], "websites": [ "https://linkedin.com/COMPANY/THIRD-AVENUE-MANAGEMENT", "https://thirdave.com", "https://thirdavenuefunds.com" ], "iapd_url": "https://adviserinfo.sec.gov/firm/summary/107545", "city_as_filed": "NEW YORK", "url": "https://advisorcensus.com/firm/third-avenue-management-llc-new-york-ny-107545", "display_name": "Third Avenue Management LLC", "summary": "Third Avenue Management LLC is an SEC-registered investment advisory firm in New York, NY, registered since 1986, reporting $1 billion to $5 billion in regulatory assets under management in its Form ADV filing dated March 27, 2026.", "citation": "AdvisorCensus. Third Avenue Management LLC (CRD 107545): Form ADV filing data as of October 2026.", "registration_type_label": "SEC-registered investment adviser", "compensation_labels": [ "A percentage of assets under your management" ], "advisory_activity_labels": [ "Portfolio management for individuals and/or small businesses", "Portfolio management for investment companies (and business development companies)", "Portfolio management for pooled investment vehicles (other than investment companies)", "Portfolio management for businesses (other than small businesses) or institutional clients" ], "quick_answers": [ { "q": "How is Third Avenue Management LLC compensated?", "a": "On its Form ADV (Item 5.E, October 2026), Third Avenue Management LLC reports these compensation arrangements: a percentage of assets under its management. The amounts are in Item 5 of its Form ADV Part 2A brochure." }, { "q": "Where is Third Avenue Management LLC located?", "a": "Third Avenue Management LLC's principal office is in New York, NY, according to its Form ADV; the April 2026 filing also lists 1 other office (Schedule D, Section 1.F)." }, { "q": "Is Third Avenue Management LLC registered with the SEC or a state?", "a": "Third Avenue Management LLC is an SEC-registered investment advisory firm, registered since 1986. Status as filed: Approved. CRD 107545." }, { "q": "How much does Third Avenue Management LLC manage?", "a": "Third Avenue Management LLC reports $1,626,400,523 in regulatory assets under management in its Form ADV filing dated March 27, 2026 (100% discretionary)." }, { "q": "How have Third Avenue Management LLC's assets and staff changed since 2021?", "a": "In the Form ADV data for Third Avenue Management LLC: Regulatory assets under management: $1,438,743,882 in the October 2021 data and $1,626,400,523 in the October 2026 data, up 13%. Total employees: 22 in October 2021 and 19 in October 2026. Assets under management move with markets as well as with clients coming and going." }, { "q": "What types of clients does Third Avenue Management LLC serve?", "a": "By number of clients on Form ADV Item 5.D: individuals (other than high net worth individuals) (9); investment companies (5); pooled investment vehicles (other than investment companies and business development companies) (2)." }, { "q": "Which custodians does Third Avenue Management LLC use?", "a": "Third Avenue Management LLC's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Interactive Brokers LLC as a custodian holding 10% or more of its separately managed account assets." }, { "q": "Does Third Avenue Management LLC report any disciplinary disclosures?", "a": "Reports no disclosure items on Form ADV Item 11. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/107545" }, { "q": "What changed in Third Avenue Management LLC's recent Form ADV filings?", "a": "In the April 2026 filing data: Regulatory assets under management went from $1,361,149,259 to $1,626,400,523 (+19%)." } ], "filing_history": [ { "period": "2021-10-01", "regulatory_assets_under_management": 1438743882.0, "total_employees": 22, "filing_date": "2021-03-31" }, { "period": "2022-10-01", "regulatory_assets_under_management": 1540288642.0, "total_employees": 20, "filing_date": "2022-08-23" }, { "period": "2023-10-01", "regulatory_assets_under_management": 1289883095.0, "total_employees": 19, "filing_date": "2023-07-10" }, { "period": "2024-10-01", "regulatory_assets_under_management": 1441602207.0, "total_employees": 19, "filing_date": "2024-03-25" }, { "period": "2025-10-01", "regulatory_assets_under_management": 1361149259.0, "total_employees": 19, "filing_date": "2025-03-26" }, { "period": "2026-10-01", "regulatory_assets_under_management": 1626400523.0, "total_employees": 19, "filing_date": "2026-03-27" } ], "recent_changes": [ { "period": "2026-04-01", "period_label": "April 2026", "notes": [ "Regulatory assets under management went from $1,361,149,259 to $1,626,400,523 (+19%)." ] } ], "fees_from_brochure": null, "custodians": [ { "name": "Interactive Brokers LLC", "name_as_filed": "INTERACTIVE BROKERS LLC", "affiliated": false } ], "custodians_note": "Custodians holding 10% or more of the firm's separately managed account assets, as filed on Form ADV (Schedule D, Section 5.K(3)). A custodian holds client assets; it does not endorse or supervise the firm. AdvisorCensus has no relationship with any custodian.", "markdown_url": "https://advisorcensus.com/firm/third-avenue-management-llc-new-york-ny-107545.md", "clients": [ { "type": "individuals", "label": "Individuals (other than high net worth individuals)", "count": 9, "fewer_than_5": false, "raum": 28523830.0 }, { "type": "investment_companies", "label": "Investment companies", "count": 5, "fewer_than_5": false, "raum": 1567599226.0 }, { "type": "pooled_investment_vehicles", "label": "Pooled investment vehicles (other than investment companies and business development companies)", "count": 2, "fewer_than_5": false, "raum": 28936031.0 }, { "type": "charitable", "label": "Charitable organizations", "count": 1, "fewer_than_5": true, "raum": 1341436.0 } ], "disclosure_line": "Reports no disclosure items on Form ADV Item 11.", "disclosure_items": [], "indexable": true, "suppressed": false, "claimed": false, "enhanced": false, "provided_by_the_firm": null, "source": { "name": "Form ADV", "as_of": "2026-10-01", "iapd_url": "https://adviserinfo.sec.gov/firm/summary/107545", "operator": "BH Monitor Services, LLC", "license": "https://creativecommons.org/licenses/by/4.0/", "credit": "AdvisorCensus (advisorcensus.com), from SEC Form ADV data" } }