Seeking Alpha

Third Avenue Small-Cap Value Fund Q2 2019 Letter

About: Third Avenue Small Cap Value Fund Inst (TASCX), Includes: ATNI, CUBI, FCN, FRPH, ICFI, MYRG, PB, TDW, UMBF, VC
by: Fund Letters

Our flagship mutual fund's high conviction strategy seeks to invest in undervalued securities across industries, regions and market capitalizations. Our fundamental analysis seeks to identify stocks trading below their intrinsic value.

For the second quarter ending June 30, 2019, the Third Avenue Small-Cap Value Fund (the "Fund") returned 2.56%, outperforming the Russell 2000 Value Index (the "Index") which returned 1.37% percent.

There were 31 positions in the Fund at quarter-end, down from 32 at March 31, 2019.