Third Avenue Management

Third Avenue Management is an investment advisory firm headquartered in New York City, founded in 1986 by the legendary value investor Martin J. Whitman. The firm is widely recognized for its fundamental, bottom-up 'safe-and-cheap' investment philosophy, which emphasizes companies with strong balance sheets and undervalued securities. While the firm may invest in healthcare and biotechnology stocks as part of its diversified portfolios, it is a financial services entity rather than a life sciences or drug development company. Third Avenue manages a suite of mutual funds and institutional accounts, including strategies focused on value equities, real estate, and small-cap stocks. Since 2002, the firm has operated as a majority-owned subsidiary of Affiliated Managers Group (AMG). It does not maintain a clinical pipeline, proprietary therapeutic modalities, or research and development facilities.