# Third Avenue Management LLC

> 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.

- CRD: 107545
- Filed as: THIRD AVENUE MANAGEMENT LLC
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: New York, NY
- Filing period: October 2026
- Form ADV filing dated: March 27, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/107545
- AdvisorCensus page: https://advisorcensus.com/firm/third-avenue-management-llc-new-york-ny-107545

## Quick answers

**How is Third Avenue Management LLC compensated?**
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.

**Where is Third Avenue Management LLC located?**
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).

**Is Third Avenue Management LLC registered with the SEC or a state?**
Third Avenue Management LLC is an SEC-registered investment advisory firm, registered since 1986. Status as filed: Approved. CRD 107545.

**How much does Third Avenue Management LLC manage?**
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).

**How have Third Avenue Management LLC's assets and staff changed since 2021?**
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.

**What types of clients does Third Avenue Management LLC serve?**
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).

**Which custodians does Third Avenue Management LLC use?**
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.

**Does Third Avenue Management LLC report any disciplinary disclosures?**
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

**What changed in Third Avenue Management LLC's recent Form ADV filings?**
In the April 2026 filing data: Regulatory assets under management went from $1,361,149,259 to $1,626,400,523 (+19%).

## From the Form ADV filing

### Compensation (Item 5.E)
- A percentage of assets under your management

### Custodians (Schedule D, Section 5.K(3))
- Interactive Brokers LLC

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.

### Regulatory assets under management (Item 5.F)
- Total: $1,626,400,523
- Discretionary: $1,626,400,523
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | 9 | $28,523,830 |
| Investment companies | 5 | $1,567,599,226 |
| Pooled investment vehicles (other than investment companies and business development companies) | 2 | $28,936,031 |
| Charitable organizations | 1 | $1,341,436 |

### Advisory services (Item 5.G)
- 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

### Firm details
- Registered since: 1986 (40 years)
- Employees: 19 total, 8 performing advisory functions
- Wrap fee program participation: Yes
- States registered or notice-filed: 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
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Other offices (Schedule D, Section 1.F), as of the April 2026 filing
- Austin, TX

### Websites listed on Form ADV (Item 1.I)
- thirdave.com
- thirdavenuefunds.com
- LinkedIn @THIRD-AVENUE-MANAGEMENT

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $1,438,743,882 | 22 | March 31, 2021 |
| October 2022 | $1,540,288,642 | 20 | August 23, 2022 |
| October 2023 | $1,289,883,095 | 19 | July 10, 2023 |
| October 2024 | $1,441,602,207 | 19 | March 25, 2024 |
| October 2025 | $1,361,149,259 | 19 | March 26, 2025 |
| October 2026 | $1,626,400,523 | 19 | March 27, 2026 |

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.

## Changes in the filing (last 12 months)

### April 2026
- Regulatory assets under management went from $1,361,149,259 to $1,626,400,523 (+19%).

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Third Avenue Management LLC (CRD 107545): Form ADV filing data as of October 2026.