Third Avenue Funds Prices and Performance

Past performance is no guarantee of future results. Mutual Fund returns include reinvestment of all distributions. Returns are annualized for periods longer than one year. The returns represent past performance and current performance may be lower or higher than performance quoted above. Investment return and principal value fluctuate so that an investor’s shares, when redeemed, may be worth more or less than the original cost.

Third Avenue Funds are offered by prospectus only. The prospectus contains important information, including investment objectives, risks, advisory fees and expenses. Distributor of Third Avenue Funds: Foreside Financial Group, LLC. Prospectuses are provided on the individual Fund pages linked below or on the Fund Literature page. Please read the Prospectus carefully before investing or sending money. If you have any questions, please call us at 1-800-880-8442 or to reach BNY Shareholder Services, dial 1-800-443-1021.

Third Avenue Value Fund

*Inception dates: Institutional Class (TAVFX) 11/01/1990, Investor Class (TVFVX) 12/31/2009, Z Class (TAVZX) 3/1/2018
Performance Data is best viewed in landscape on your mobile device.

Net Asset Value (NAV)

as of
11/19/2024
Current NAV
Daily Return
MTD
Return
YTD
Return
Institutional
64.77
0.16
%
-0.81
%
0.36
%
Investor
65.15
0.15
%
-0.82
%
0.14
%
Z Class
64.79
0.16
%
-0.81
%
0.45
%

Period and Annualized Performance

as of
10/31/2024

1 Month

3 Month

YTD

1 Year

3 Year

5 Year
10 Year
15 Year
Inception*
-6.46
%
-8.61
%
1.18
%
17.48
%
12.05
%
15.06
%
7.22
%
7.71
%
10.44
%
-6.48
%
-8.65
%
0.97
%
17.19
%
11.75
%
14.76
%
6.94
%
N/A
7.09
%
-6.44
%
-8.57
%
1.27
%
17.62
%
12.16
%
15.17
%
N/A
N/A
8.23
%

Quarterly Performance

as of
9/30/2024

QTR

1 Year

5 Year

10 Year
Inception*
1.26
%
18.19
%
17.99
%
7.88
%
10.68
%
1.20
%
17.88
%
17.69
%
7.61
%
7.62
%
1.27
%
18.30
%
18.10
%
N/A
9.44
%
Performance figures for periods greater than 1 year are annualized. The gross expense ratio for the Fund’s institutional, investor and z share classes is 1.20%, 1.47% and 1.13%, respectively, as of March 1, 2024. Risks that could negatively impact returns include: fluctuations in currencies versus the US dollar, political/social/economic instability in foreign countries where Fund invests, lack of diversification and adverse general market conditions.

Third Avenue Small-Cap Value Fund

*Inception dates: Institutional Class (TASCX) 04/01/1997, Investor Class (TVSVX) 12/31/2009, Z Class (TASZX) 3/1/2018
Performance Data is best viewed in landscape on your mobile device.

Net Asset Value (NAV)

as of
11/19/2024
Current NAV
Daily Return
MTD
Return
YTD
Return
Institutional
21.95
-0.09
%
2.38
%
9.10
%
Investor
21.15
-0.09
%
2.37
%
8.85
%
Z Class
22.07
-0.09
%
2.37
%
9.20
%

Period and Annualized Performance

as of
10/31/2024

1 Month

3 Month

YTD

1 Year

3 Year

5 Year
10 Year
15 Year
Inception*
-1.61
%
-2.46
%
6.56
%
23.44
%
9.27
%
10.00
%
8.08
%
9.75
%
8.71
%
-1.67
%
-2.50
%
6.33
%
23.13
%
8.98
%
9.73
%
7.81
%
N/A
9.12
%
-1.60
%
-2.40
%
6.68
%
23.56
%
9.37
%
10.13
%
N/A
N/A
8.34
%

Quarterly Performance

as of
9/30/2024

QTR

1 Year

5 Year

10 Year
Inception*
8.36
%
18.46
%
11.01
%
8.84
%
8.80
%
8.30
%
18.19
%
10.74
%
8.57
%
9.30
%
8.36
%
18.59
%
11.13
%
N/A
8.72
%
Performance figures for periods greater than 1 year are annualized. The gross expense ratio for the Fund’s institutional, investor and z share classes is 1.25%, 1.50% and 1.18%, respectively, as of March 1, 2024. Risks that could negatively impact returns include: fluctuations in currencies versus the US dollar, political/social/economic instability in foreign countries where Fund invests, lack of diversification, volatility associated with investing in small‐cap securities, and adverse general market conditions.

Third Avenue Real Estate Value Fund

*Inception dates: Institutional Class (TAREX) 09/17/1998, Investor Class (TVRVX) 12/31/2009, Z Class (TARZX) 3/1/2018
Performance Data is best viewed in landscape on your mobile device.

Net Asset Value (NAV)

as of
11/19/2024
Current NAV
Daily Return
MTD
Return
YTD
Return
Institutional
25.44
0.12
%
6.71
%
17.29
%
Investor
25.31
0.12
%
6.70
%
17.07
%
Z Class
25.38
0.12
%
6.73
%
17.39
%

Period and Annualized Performance

as of
10/31/2024

1 Month

3 Month

YTD

1 Year

3 Year

5 Year
10 Year
15 Year
Inception*
-3.44
%
1.97
%
9.91
%
40.56
%
1.31
%
4.34
%
3.90
%
7.07
%
8.76
%
-3.46
%
1.89
%
9.71
%
40.24
%
1.06
%
4.08
%
3.64
%
N/A
6.58
%
-3.45
%
1.97
%
9.99
%
40.67
%
1.41
%
4.43
%
N/A
N/A
2.85
%

Quarterly Performance‍

as of
9/30/2024

QTR

1 Year

5 Year

10 Year
Inception*
15.75
%
37.36
%
5.82
%
4.57
%
8.93
%
15.68
%
37.03
%
5.56
%
4.31
%
6.87
%
15.80
%
37.54
%
5.93
%
N/A
3.44
%
Performance figures for periods greater than 1 year are annualized. The gross expense ratio for the Fund’s institutional, investor and z share classes is 1.19%, 1.45% and 1.11%, respectively, as of March 1, 2024. Risks that could negatively impact returns include: overbuilding and increased competition, increases in property taxes and operating expenses, lack of financing, vacancies, environmental contamination and its related clean-up, changes in interest rates, casualty or condemnation losses, and variations in rental income.
Third Avenue International Real Estate Value Fund
*Inception dates: Institutional Class (REIFX) 03/19/2014, Z Class (REIZX) 4/20/2018
Performance Data is best viewed in landscape on your mobile device.

Net Asset Value (NAV)

as of
11/19/2024
Current NAV
Daily Return
MTD
Return
YTD
Return
Institutional
12.02
0.25
%
-2.51
%
-2.44
%
Z Class
12.40
0.16
%
-2.52
%
-2.44
%

Period and Annualized Performance

as of
10/31/2024

1 Month

3 Month

YTD

1 Year

3 Year

5 Year
10 Year
15 Year
Inception*
-6.73
%
-0.08
%
0.08
%
19.76
%
-1.20
%
4.23
%
5.35
%
N/A
4.95
%
-6.75
%
-0.08
%
0.08
%
19.70
%
-1.23
%
4.22
%
N/A
N/A
4.05
%

Quarterly Performance

as of
9/30/2024

QTR

1 Year

5 Year

10 Year
Inception*
11.75
%
22.17
%
6.81
%
N/A
5.68
%
11.71
%
22.21
%
6.81
%
N/A
5.24
%
Performance figures for periods greater than 1 year are annualized. The gross expense ratio for the Fund’s institutional and z share classes is 1.62% and 1.52%, respectively, as of March 1, 2024. Risks that could negatively impact returns include: overbuilding and increased competition, increases in property taxes and operating expenses, lack of financing, vacancies, environmental contamination and its related clean-up, changes in interest rates, casualty or condemnation losses, and variations in rental income.
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