Third Friday Management, LLC (Delray Beach)


Third Friday Management, LLC is a mid-sized advisory firm based in Delray Beach. It manages $32.81 million of regulatory assets for 4 client accounts. It has been registered with the SEC as an adviser since 2016 and has operated in the jurisdiction of Florida.

Third Friday Management provides portfolio management for individuals and small businesses, portfolio management for pooled investment vehicles, portfolio management for businesses and institutional clients, publication of newsletters, and private equity and merchant banking. It doesn't provide financial planning services to its clients. On top of advisory services, the firm doesn't engage in other business activities.

Third Friday Management: assets under management

The assets under management (AUM) of Third Friday Management, LLC is $32.81 million. The firm's AUM has gone down by -18% since the beginning of its operation, and $500 thousand of the total AUM is attributable to clients outside of the United States.

The firm manages $31.77 million in discretionary accounts and $1.04 million in non-discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $15.89 million each. Non-discretionary accounts, where clients actively manage their portfolios, generally hold around $518.69 thousand.

Investments

The firm invests in exchange traded securities the most. They account for 70% of the total AUM. The second-largest asset type is non-investment grade corporate bonds, which make up 20% of the firm’s portfolio. Investments in cash and cash equivalents form 10% of the total invested assets.

Fees & Commissions

The advisory firm has several streams of revenue. Clients pay Third Friday Management, LLC for their services and products based on a percentage of assets under management, subscription fees, and performance-based fees. The adviser charges an additional fee when a set benchmark is outperformed. These fees don’t include brokerage commissions, interest, taxes, and other account expenses.

What kind of clients Third Friday Management serves?

The firm provides services to pooled investment vehicles and corporations or other businesses. The largest group of clients of Third Friday Management is pooled investment vehicles with 1 clients and $30.7 million of assets under management. Among the 1 most similar advisory firms, Third Friday Management has the highest percentage of pooled investment vehicles out of all clients.

The amount of regulatory assets under management is $31.77 million for 2 clients. None of the firm’s clients are foreign persons or businesses.

Third Friday Management also advises several private funds. Namely, one hedge fund. The minimum investment commitment required of non-related persons is $250,000 for each fund.

Careers at Third Friday Management, LLC

The company employs 1 person that is either a part- or full-time employee. 100 percent of the employees work as investment advisers or researchers. No employees are registered as investment adviser representatives with the state securities authorities.

There isn’t anyone with the role of looking for and bringing in new clients on behalf of the firm. The firm doesn’t compensate employees in addition to the salary for bringing in new clients. Employees don’t receive compensation from other entities for client referrals.

Direct owners and executive officers


Name Entity Date acquired Ownership Employer ID
Michael Eric Lewitt Ceo, cio, cco, managing member 1 Nov 2012 75% - 100% 1706492

Based in Delray Beach

The principal office where Third Friday Management, LLC performs its advisory services is located at 85 N. Congress Avenue, Delray Beach, FL 33445, which is also the mailing address of the firm. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 561 239-1510 or by fax NA. The normal business hours are no regular office hours on Other. You can find more information about the New York firm at thecreditstrategist.com.