Past performance is no guarantee of future results; returns include reinvestment of all distributions. The above represents past performance and current performance may be lower or higher than the performance quoted above. Investment return and principal value fluctuate so that an investor's shares, when redeemed, may be worth more or less that the original cost. For the most recent month-end performance, please visit the Fund's website www.thirdave.com.

Click here for standard performance.

Investors should consider the investment objectives, risks, charges and expenses carefully before investing. Third Avenue Funds are offered by prospectus only.  The prospectuses and summary prospectuses are available on this website or by calling (800) 443-1021.  Read the prospectus or summary prospectus carefully before investing.

Third Avenue Funds are distributed by Foreside FundServices, LLC.

FUND RISKS: In addition to general market conditions, the value of the Fund will be affected by the strength of the real estate markets. Factors that could affect the value of the Fund’s holdings include the following: overbuilding and increased competition, increases in property taxes and operating expenses, declines in the value of real estate, lack of availability of equity and debt financing to refinance maturing debt, vacancies due to economic conditions and tenant bankruptcies, losses due to costs resulting from environmental contamination and its related clean-up, changes in interest rates, changes in zoning laws, casualty or condemnation losses, variations in rental income, changes in neighborhood values, and functional obsolescence and appeal of properties to tenants. For a full disclosure of principal investment risks, please refer to the Fund’s Prospectus.

TAREX gross/net expenses: 1.17%/1.15%. Contractual fee waiver in place through at least 3/1/2026.

For the Third Avenue Glossary please visit here