FUND RISKS: Risks that could negatively impact returns include: fluctuations in currencies versus the US dollar, political/social/economic instability in foreign countries where the Fund invests, lack of diversification, and adverse general market conditions. For a full disclosure of principal investment risks, please refer to the Fund’s Prospectus.

These materials do not constitute an offer to sell or a solicitation of an offer to purchase any securities. Third Avenue Funds are offered by prospectus only. Please click here to access and carefully read the Fund’s prospectus before investing as it contains important information, including full disclosures of investment objectives, advisory fees and expenses, and investment risks, including principal loss risk.

Distributor of Third Avenue Funds: Foreside Fund Services, LLC.

Performance data quoted represents past performance; past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance of the Fund may be lower or higher than the performance quoted. For the most recent month-end performance, please call 800-443-1021.

S&P 500 – S&P 500 Index, or Standard & Poor’s 500 Index, is a market-capitalization-weighted index of 500 leading publicly traded companies in the U.S.

Russell 2000  – The Russell 2000® Index measures the performance of the small-cap segment of the US equity universe. The Russell 2000 Index is a subset of the Russell 3000® Index representing approximately 10% of the total market capitalization of that index. It includes approximately 2,000 of the smallest securities based on a combination of their market cap and current index membership. The Russell 2000 is constructed to provide a comprehensive and unbiased small-cap barometer and is completely reconstituted annually to ensure larger stocks do not distort the performance and characteristics of the true small-cap opportunity set. (Source: FTSE Russell)

Price/Earnings Ratio – The price-to-earnings ratio is the ratio for valuing a company that measures its current share price relative to its earnings per share (EPS).

For Third Avenue Value Fund Top 10 holdings and standardized performance click here.

For Third Avenue Small-Cap Value Fund Top 10 holdings and standardized performance click here.

‍