Third Avenue
Third Avenue Management Small-Cap Value Fund
Small-cap Value
Dec 2025 → Dec 2025
Our archive holds 1 letter from this strategy, behind 2 investment theses and positions in 2 companies. Every quote below is copied verbatim from the letter it came from.
1 letter in a year — follow all of Third Avenue for every strategy.
Its investment theses
- UniFirst CorporationDec 2025UniFirst Corporation is a uniform and laundry services provider whose governance, underperformance, and uncertain turnaround make a premium sale to Cintas superior on present value grounds.
- Flagstar Bank, National AssociationDec 2025Flagstar Bank, National Association is a regional bank in transformation with reduced risk exposures, recapitalization, aligned management, and a discounted valuation relative to tangible book value.