# EDGAR Filing Document

**Accession Number:** 0001031661
**File Stem:** 0000940400-25-014711
**Filing Date:** 2025-12
**Character Count:** 13439
**Document Hash:** a479b61a255301af340c1080d6ca5272
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000940400-25-014711.hdr.sgml**: 20251223

**ACCESSION NUMBER**: 0000940400-25-014711

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20251031

**FILED AS OF DATE**: 20251223

**DATE AS OF CHANGE**: 20251223

**PERIOD START**: 20251031

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** THIRD AVENUE TRUST
- **CENTRAL INDEX KEY:** 0001031661

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1031

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-08039
- **FILM NUMBER:** 251600324

**BUSINESS ADDRESS:**
- **STREET 1:** THIRD AVENUE MANAGEMENT LLC
- **STREET 2:** 6 GRAND CENTRAL, 666 3RD AVE. STE 1040
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10017
- **BUSINESS PHONE:** 2128885222

**MAIL ADDRESS:**
- **STREET 1:** THIRD AVENUE MANAGEMENT LLC
- **STREET 2:** 6 GRAND CENTRAL, 666 3RD AVE. STE 1040
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10017

## Series and Classes Contracts Data

### Third Avenue International Real Estate Value Fund (Series ID: S000071301)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000226241 | Z Class             | REIZX           |
| C000226242 | Institutional Class | REIFX           |

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** Third Avenue Trust

- **b. Investment Company Act file number:** 811-08039

- **c. CIK number of Registrant:** 0001031661

- **d. LEI of Registrant:** 549300NKE5HKXV94KS04

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 675 Third Avenue

  - **City:** New York

  - **State:** NY

  - **Foreign country:** US

  - **Zip / Postal Code:** 10017

  - **Telephone number:** 800-443-1021

**Item A.2. Information about the Series.**

- **a. Name of Series:** Third Avenue International Real Estate Value Fund

- **b. EDGAR series identifier (if any):** S000071301

- **c. LEI of Series:** 549300L32LUQFEBT4S10

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2025-10-31

- **b. Date as of which information is reported:** 2025-10-31

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $74727901.12

**Total Liabilities:** $372572.84

**Net Assets:** $74355328.28

**Cash Not Reported:** $765386.94

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000226241 | 3.96%                | 1.36%                | -2.28%               |
| Class ID C000226242 | 4.02%                | 1.34%                | -2.29%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $178147.93               | $2173362.77                                |
| Month 2  | $341624.74               | $514917.83                                 |
| Month 3  | $0.00                    | $-1581657.10                               |

### Schedule of Portfolio Investments

| Name                                        | Title                                        | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| GOLDMAN SACHS & CO. LLC                     | ISHARES MSCI UNITED KINGDOM ETF              | CUSIP: 000000000<br>LEI: FOR8UP27PHTHYVLBNG30 | N/A              | DE               | CORP              | US        |      1450 | NC      | $59114.63     | 0.08%             |  |  |  | No            |                  2 | On Loan: No      |
| Helical PLC                                 | Helical PLC                                  | CUSIP: 000000000<br>LEI: 2138003SBD2Z7WV2MP70 | Long             | EC               | CORP              | GB        |    521187 | NS      | $1428405.60   | 1.92%             |  |  |  | No            |                  2 | On Loan: No      |
| Dreyfus Treasury Securities Cash Management | Dreyfus Treasury Securities Cash Management  | CUSIP: 261941108<br>LEI: 549300U78VESCW509025 | Long             | STIV             | RF                | US        |   4347051 | NS      | $4347051.46   | 5.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Amata Corp PCL                              | Amata Corp PCL                               | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | TH        |   3201000 | NS      | $1427157.56   | 1.92%             |  |  |  | No            |                  2 | On Loan: No      |
| Big Yellow Group PLC                        | Big Yellow Group PLC                         | CUSIP: 000000000<br>LEI: 213800W7Q4V2ZI8LIW31 | Long             | EC               | CORP              | GB        |    249906 | NS      | $3655350.40   | 4.92%             |  |  |  | No            |                  2 | On Loan: No      |
| Nomura Real Estate Holdings In              | Nomura Real Estate Holdings Inc              | CUSIP: 000000000<br>LEI: 353800UZ91CT24OL9P59 | Long             | EC               | CORP              | JP        |    387500 | NS      | $2212963.90   | 2.98%             |  |  |  | No            |                  2 | On Loan: No      |
| Lendlease Corp Ltd                          | Lendlease Corp Ltd                           | CUSIP: 000000000<br>LEI: 549300MQ0F0TIIEK5592 | Long             | EC               | CORP              | AU        |    896526 | NS      | $3251146.20   | 4.37%             |  |  |  | No            |                  2 | On Loan: No      |
| Tosei Corp                                  | Tosei Corp                                   | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | JP        |    148900 | NS      | $3167982.55   | 4.26%             |  |  |  | No            |                  2 | On Loan: No      |
| Glenveagh Properties PLC                    | Glenveagh Properties PLC                     | CUSIP: 000000000<br>LEI: 635400QUQ2YYGMOAK834 | Long             | EC               | CORP              | IE        |   1494330 | NS      | $3286414.52   | 4.42%             |  |  |  | No            |                  1 | On Loan: No      |
| SUNeVision Holdings Ltd                     | SUNeVision Holdings Ltd                      | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | HK        |   2900745 | NS      | $2253119.44   | 3.03%             |  |  |  | No            |                  2 | On Loan: No      |
| Warehouses De Pauw CVA                      | Warehouses De Pauw CVA                       | CUSIP: 000000000<br>LEI: 549300HWDYC5JXC85138 | Long             | EC               | CORP              | BE        |     99404 | NS      | $2524334.83   | 3.39%             |  |  |  | No            |                  2 | On Loan: No      |
| GOLDMAN SACHS & CO. LLC                     | ISHARES MSCI UNITED KINGDOM ETF              | CUSIP: 000000000<br>LEI: FOR8UP27PHTHYVLBNG30 | N/A              | DE               | CORP              | US        |     -1450 | NC      | $-14187.19    | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| Hongkong Land Holdings Ltd                  | Hongkong Land Holdings Ltd                   | CUSIP: 000000000<br>LEI: 213800XCHYNRPAYGXW28 | Long             | EC               | CORP              | HK        |    464000 | NS      | $2835189.87   | 3.81%             |  |  |  | No            |                  2 | On Loan: No      |
| StorageVault Canada Inc                     | StorageVault Canada Inc                      | CUSIP: 86212H105<br>LEI: 254900A6LDI0HRL1VD69 | Long             | EC               | CORP              | CA        |   1037744 | NS      | $3662495.31   | 4.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Corp Inmobiliaria Vesta SAB de              | Corp Inmobiliaria Vesta SAB de CV            | CUSIP: 000000000<br>LEI: 4469000001BIRIFZJ959 | Long             | EC               | CORP              | MX        |   1105147 | NS      | $3354968.96   | 4.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Genting Singapore Ltd                       | Genting Singapore Ltd                        | CUSIP: 000000000<br>LEI: 254900Y2N3AK93K1O866 | Long             | EC               | CORP              | SG        |   5180700 | NS      | $2904037.88   | 3.91%             |  |  |  | No            |                  2 | On Loan: No      |
| Swire Pacific Ltd                           | Swire Pacific Ltd                            | CUSIP: 000000000<br>LEI: 549300KZOZHII0DGF611 | Long             | EC               | CORP              | HK        |   1448000 | NS      | $2146689.75   | 2.89%             |  |  |  | No            |                  1 | On Loan: No      |
| TAG Immobilien AG                           | TAG Immobilien AG                            | CUSIP: 000000000<br>LEI: 529900TAE68USJNXLR59 | Long             | EC               | CORP              | DE        |    193127 | NS      | $3206085.55   | 4.31%             |  |  |  | No            |                  2 | On Loan: No      |
| Sun Hung Kai Properties Ltd                 | Sun Hung Kai Properties Ltd                  | CUSIP: 000000000<br>LEI: 529900LUMD393RD3S874 | Long             | EC               | CORP              | HK        |    249593 | NS      | $3037243.32   | 4.08%             |  |  |  | No            |                  2 | On Loan: No      |
| CTP NV                                      | CTP NV                                       | CUSIP: 000000000<br>LEI: 3157000YTVO4TN65UM14 | Long             | EC               | CORP              | NL        |    152269 | NS      | $3175286.39   | 4.27%             |  |  |  | No            |                  2 | On Loan: No      |
| UNITE Group PLC/The                         | UNITE Group PLC/The                          | CUSIP: 000000000<br>LEI: 213800BBUUWVDH9YI827 | Long             | EC               | CORP              | GB        |    362064 | NS      | $2700716.03   | 3.63%             |  |  |  | No            |                  2 | On Loan: No      |
| Shurgard Self Storage Ltd                   | Shurgard Self Storage Ltd                    | CUSIP: 000000000<br>LEI: 549300J0UEIKU81XO336 | Long             | EC               | CORP              | LU        |     83626 | NS      | $3061286.07   | 4.12%             |  |  |  | No            |                  2 | On Loan: No      |
| Ayala Land Inc                              | Ayala Land Inc                               | CUSIP: 000000000<br>LEI: 254900EWT10TQ6DKTV34 | Long             | EC               | CORP              | PH        |   4025200 | NS      | $1359692.45   | 1.83%             |  |  |  | No            |                  2 | On Loan: No      |
| Merlin Properties Socimi SA                 | Merlin Properties Socimi SA                  | CUSIP: 000000000<br>LEI: 959800L8KD863DP30X04 | Long             | EC               | CORP              | ES        |    194811 | NS      | $3034818.12   | 4.08%             |  |  |  | No            |                  2 | On Loan: No      |
| National Storage REIT                       | National Storage REIT                        | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | AU        |   2265125 | NS      | $3408506.08   | 4.58%             |  |  |  | No            |                  2 | On Loan: No      |
| LOG Commercial Properties e Pa              | LOG Commercial Properties e Participacoes SA | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | BR        |    538849 | NS      | $2356735.09   | 3.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Mandarin Oriental Internationa              | Mandarin Oriental International Ltd          | CUSIP: 000000000<br>LEI: 213800KQ1UMKZ1JXJR80 | Long             | EC               | CORP              | HK        |    746300 | NS      | $2447864.00   | 3.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Ingenia Communities Group                   | Ingenia Communities Group                    | CUSIP: 000000000<br>LEI: N/A                  | Long             | EC               | CORP              | AU        |    939627 | NS      | $3453079.68   | 4.64%             |  |  |  | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-12-22

**Name of Applicant:** Third Avenue Trust

**Signature:** Christine S. Catanzaro

**Name of Signer:** Christine S. Catanzaro

**Title:** Treasurer and Chief Financial Officer