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Directory Results for Third Avenue Value Fund Third Avenue Small-Cap Value ... to Third Avenue Value Fund Third Avenue SmallC ap Value Fund Third Avenue Real E stat e Value Fund Third Avenue I nter national Value Fund SE M I ANN U AL POR TFO LI O M AN AGE R CO MM EN TARY 30 APRIL 2013 Letter from the Founder (Unaudited)

Third Avenue Value Fund Third Avenue Small-Cap Value ...
Third Avenue Value Fund Third Avenue SmallC ap Value Fund Third Avenue Real E stat e Value Fund Third Avenue I nter national Value Fund POR TFOLI O M AN AGER COM M ENTARY 31 JANUARY 2013 Letter from the Founder (Unaudited) Dear Fellow
Third Avenue Value Fund Third Avenue SmallC ap Value Fund Third Avenue Real E stat e Value Fund Third Avenue I nter national Value Fund SE M I ANN U AL POR TFO LI O M AN AGE R CO MM EN TARY 30 APRIL 2013 Letter from the Founder (Unaudited)