Third Avenue Value Portfolio
Data updated: 2026-08-21
C000003889 — Third Avenue Value Portfolio. Developed ex-US Small Cap Value Industrials Equity · $92.15M AUM. Holdings, fees, performance and SEC filings.
C000003889 Fund Overview
Third Avenue Value Portfolio is a US mutual fund managed by Third Avenue Variable Series Trust, categorised as Developed ex-US Small Cap Value Industrials Equity. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US mutual fund
- Manager: Third Avenue Variable Series Trust
- Category: Developed ex-US Small Cap Value Industrials Equity
- Assets under management: $92.15M
- 1-year return: 30.2%
- SEC CIK: 0001089107
- SEC series ID: S000001468
- Share class ID: C000003889
C000003889 Investment Objective and Strategy
Third Avenue Value Portfolio describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Third Avenue Variable Series Trust.
Investment objective
Third Avenue Value Portfolio seeks long-term capital appreciation.
Principal investment strategy
The Portfolio seeks to achieve its objective mainly by acquiring common stocks of companies that the Adviser believes have a high probability of growing net asset value and a low probability of financial impairment. Adhering to this strict value discipline, the Portfolio generally will be concentrated in the Advisers highest conviction investment ideas (or investments that the Adviser believes to have the highest probability of above average returns) and will typically hold 20-40 positions. The Adviser seeks investments whose market prices are low in relation to what it believes is their intrinsic value and/or whose total return potential is considered to be high. The Adviser believes this both lowers investment risk and increases capital appreciation and total return potential. Accordingly, the Adviser seeks to identify investment opportunities through intensive research of individual companies and, generally, does not focus solely on stock market conditions and other macro factors.
For these reasons, the Adviser may seek investments in the equity securities and 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) of companies in industries that are believed to be undervalued or temporarily depressed. The Portfolio also invests in both domestic and foreign securities. Third Avenue follows a strategy of long-term investing. The Adviser will generally sell an investment when there has been a fundamental change in the business or capital structure of the company which significantly affects the investments inherent value or when it believes that the market value of an investment is overpriced relative to its intrinsic value.
Temporary Defensive Positions. In anticipation of or in response to adverse market or other conditions or atypical circumstances such as unusually large cash inflows or redemptions, the Portfolio may temporarily hold a larger than normal portion of its assets in U.S. Government securities, money market funds, cash, exchange-traded funds, cash equivalents, or short-term investments. The Adviser will determine when market conditions warrant temporary defensive measures with respect to the Portfolio. Under such conditions, the Portfolio may not invest in accordance with its investment objective or principal investment strategies and may not achieve its investment objective.
C000003889 Holdings
Top 10 holdings of Third Avenue Value Portfolio by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| Dreyfus Treasury Securities Cash Management | 7.26% |
| Tidewater, Inc. | 4.82% |
| Easyjet PLC | 4.07% |
| Lundin Mining Corp. | 3.94% |
| Ck Hutchison Holdings Ltd. | 3.80% |
| Boise Cascade Company | 3.68% |
| Ultrapar Participacoes SA | 3.58% |
| Subsea 7 SA | 3.55% |
| Jeol Ltd. | 3.51% |
| Capstone Copper Corp. | 3.49% |
C000003889 Portfolio Allocation
Asset-class allocation of Third Avenue Value Portfolio by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Equity | 91.6% |
| Cash & Equivalents | 7.3% |
C000003889 Performance
Total returns for C000003889 (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| YTD | 8.6% |
| 1 year | 30.2% |
| 3 years (annualised) | 15.5% |
| 5 years (annualised) | 14.4% |
C000003889 Risk Information
Risk metrics for C000003889, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 15.4%
C000003889 Costs and Fees
C000003889 costs about $131 per $10,000 invested per year in fund expenses.
- Net expense ratio: 1.31%
- Gross expense ratio: 1.38%
- Portfolio turnover: 72%
- Brokerage commissions: 0.56 bps of average net assets (SEC N-CEN)
C000003889 Cashflows
Over the 12 months to 2026-06, Third Avenue Value Portfolio had net inflows of $3.86M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2026-06 | −$992.23K |
| 2026-05 | −$2.95M |
| 2026-04 | $2.15M |
| 2026-03 | −$360.87K |
| 2026-02 | $2.07M |
| 2026-01 | −$482.59K |
C000003889 Debt Constituents
No individual debt constituents are reported in Third Avenue Value Portfolio's latest SEC N-PORT filing.
C000003889 Prospectus and SEC Filings
Official Third Avenue Value Portfolio filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2026-04-24
- Prospectus (485BPOS) — filed 2025-04-24
- Prospectus (485BPOS) — filed 2024-04-25
- Portfolio holdings (N-PORT) — filed 2026-08-21
- Portfolio holdings (N-PORT) — filed 2026-05-26
- Portfolio holdings (N-PORT) — filed 2026-02-23
- Annual census (N-CEN) — filed 2026-02-27
- Annual census (N-CEN) — filed 2025-03-03
Related Funds
Other Developed ex-US Small Cap Value Industrials Equity funds tracked on ABC INVEST:
Data Sources
ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.