Third Avenue Real Estate Value Fund Institutional Class
TAREX
NASDAQ- -
USD
- -
- -
Capital Structure
FRC
•
in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
FRC
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in mil. unless spec.Quarterly Revenue
FRC
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in mil. unless spec.Quarterly Earnings Per Share
FRC
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in mil. unless spec.Quarterly Dividends Per Share
FRC
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in mil. unless spec.- Sector
- Real Estate
- Industry
- Real Estate - General
- Address
- 622 Third Avenue New York NY United States of America 10017
- IPO Date
- Sep 17, 1998
- CIK
- 0001031661
- Website
- thirdave.com
- Similar Companies
- Business
- Third Avenue Real Estate Value Fund Institutional Class (TAREX) is an open-end mutual fund that seeks total return through capital appreciation and current income by investing primarily in equity securities of well-financed real estate and real estate-related companies worldwide, including common stocks, convertible securities, and other securities; the fund targets undervalued issuers with strong balance sheets, often concentrating in mid-cap value stocks across global real estate sectors such as residential homebuilders (e.g., Lennar Corp, PulteGroup Inc), commercial real estate services (e.g., CBRE Group Inc), mortgage agencies (e.g., Federal Home Loan Mortgage Corp, Federal National Mortgage Association), and diversified operators (e.g., Brookfield Corp); it maintains a low portfolio turnover of approximately 8%, a net expense ratio of 1.15%, and top holdings accounting for about 33% of assets, with asset allocation including 49% U.S. stocks, 34% non-U.S. stocks, 3% cash, and 13% other. Managed by Third Avenue Management LLC, a value-oriented investment adviser founded in 1986 and headquartered at 622 Third Avenue, New York, New York, the fund launched on September 17, 1998, and operates within the global real estate category for institutional investors with a minimum initial investment of $10,000; Third Avenue Management, a subsidiary of Affiliated Managers Group (NYSE: AMG) with over $1.4 billion in assets under management across strategies including global value, U.S. small-cap value, and international real estate, employs a research-intensive, opportunistic approach unconstrained by market cap, sector, or geography. Recent developments include routine 2025 income and capital gain distributions announced in December, quarterly performance letters highlighting +13.54% returns for the first nine months of 2025 driven by residential real estate holdings, and portfolio adjustments in Q2 2025 such as adding new positions in Champion Homes Inc and increasing stakes in PulteGroup Inc while exiting others like Brookfield Asset Management Ltd; additionally, in May 2025, Third Avenue Management formed a strategic partnership with Capital Strategies Partners, a Madrid-based third-party marketer, to enhance distribution of its strategies including a new Third Avenue Global Value Fund UCITS via Gemini Capital Management, expanding reach to European and global investors without altering core TAREX operations. The fund serves institutional and high-net-worth clients primarily in the United States, with global investment exposure across North America, Europe, and other regions reflecting its diversified real estate focus.