Third Security, LLC (Radford)

Name: Third Security, LLC
Address: The Governor Tyler, Radford, VA, 24141
Telephone: 540-633-7900

Third Security, LLC is a large advisory firm based in Radford. It manages $1.13 billion of regulatory assets for 41 client accounts. It has been registered with the SEC as an adviser since 2012 and has operated in the jurisdictions of California, Florida, and Virginia.

Third Security provides portfolio management for individuals and small businesses and portfolio management for pooled investment vehicles. 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 Security: assets under management

The assets under management (AUM) of Third Security, LLC is $1.13 billion, all of which is managed in discretionary accounts. The firm's AUM has gone down by -27% since the beginning of its operation, and the company doesn't manage any assets belonging to foreign clients.

The firm manages $1.13 billion in discretionary accounts. On average, the discretionary accounts where all decisions are made on behalf of the client hold $27.6 million each.

Third Security has custody of $1.01 billion in cash and securities for 41 clients in total but doesn’t act as a qualified custodian.

Investments

The firm invests in exchange traded securities the most. They account for 51% of the total AUM. The second-largest asset type is government bonds, which make up 31% of the firm’s portfolio. Investments in pooled investment vehicles form 14% of the total invested assets.

Fees & Commissions

The advisory firm has a single stream of revenue. Clients pay Third Security, LLC for their services and products based on 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 Security serves?

The firm provides services to high net worth individuals and pooled investment vehicles. The largest group of clients of Third Security is pooled investment vehicles with 37 clients and $606.41 million of assets under management. Among the 8 most similar advisory firms, Third Security has the 3rd highest percentage of pooled investment vehicles out of all clients.

The amount of regulatory assets under management is $1.13 billion for 41 clients that can include trusts, estates, and 401(k) plans and IRAs of individuals and their family members. None of the firm’s clients are foreign persons or businesses.

Third Security also advises several private funds. Namely, twenty hedge funds, two other private funds, and three private equity funds. The minimum investment commitment required of non-related persons ranges from $1 to $5,000,000.

Careers at Third Security, LLC

The company employs 21 people that are either part- or full-time employees. 52 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
Randal Joe Kirk	Senior managing director & chief executive officer	1 Mar 1999	75% - 100%	4496987
Marcus Elbert Smith	Senior managing director, general counsel & chief compliance officer	1 Mar 1999	Other	2335618
Robert M. Patzig	Senior managing director & chief investment officer	1 Mar 1999	Other	5036841
Lisa M Moose	Managing director	1 Aug 1999	Other	6029483
Doit Leon Koppler	Managing director & treasurer	1 Apr 2001	Other	4520208
Theodore John Fisher	Managing director & associate general counsel	1 May 2003	Other	4717030
Julian Patrick Kirk	Managing director	1 Mar 2004	Other	4709575
Jeffrey Thomas Perez	Managing director & associate general counsel	1 Jul 2007	Other	6029484
Clifton R Herndon	Managing director & controller	1 Aug 2007	Other	6029485
Scott Horner	Managing director	1 Aug 2007	Other	6029486
Jason Horton Gabriel	Managing director	1 Jan 2014	Other	2907632

Based in Radford

The principal office where Third Security, LLC performs its advisory services is located at The Governor Tyler, Radford, VA 24141, which is also the mailing address of the firm. An additional office of the firm is in San Francisco, CA. It doesn’t run an office outside of the United States.

You can reach the main office by calling the phone number 540-633-7900 or by fax 540-633-7939. The normal business hours are 8:30 am - 7:00 pm (et) on Monday - Friday. You can find more information about the New York firm at thirdsecurity.com.