# EDGAR Filing Document

**Accession Number:** 0001031661
**File Stem:** 0001752724-25-156265
**Filing Date:** 2025-6
**Character Count:** 14461
**Document Hash:** b054ce8b19f4825363020b2244d080ba
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-156265.hdr.sgml**: 20250625

**ACCESSION NUMBER**: 0001752724-25-156265

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250430

**FILED AS OF DATE**: 20250625

**DATE AS OF CHANGE**: 20250625

**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:** 251073249

**BUSINESS ADDRESS:**
- **STREET 1:** 675 THIRD AVENUE
- **STREET 2:** SUITE 2900-05
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10017
- **BUSINESS PHONE:** 2128885222

**MAIL ADDRESS:**
- **STREET 1:** 675 THIRD AVENUE
- **STREET 2:** SUITE 2900-05
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10017

## Series and Classes Contracts Data

### THIRD AVENUE SMALL-CAP VALUE FUND (Series ID: S000001465)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000003886 | Institutional Class | TASCX           |
| C000085635 | Investor Class      | TVSVX           |
| C000199335 | Z Class             | TASZX           |

## 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 Small-Cap Value Fund

- **b. EDGAR series identifier (if any):** S000001465

- **c. LEI of Series:** 0JCLV283XKNBTMBH2S72

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

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

- **b. Date as of which information is reported:** 2025-04-30

**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:** $149726028.23

**Total Liabilities:** $198021.38

**Net Assets:** $149528006.85

**Cash Not Reported:** $610902.19

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000003886 | -6.08%               | -1.76%               | -2.90%               |
| Class ID C000085635 | -6.06%               | -1.77%               | -2.96%               |
| Class ID C000199335 | -6.05%               | -1.80%               | -2.89%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $141674.85               | $-10721391.31                              |
| Month 2  | $455366.18               | $-3456242.43                               |
| Month 3  | $2917934.05              | $-7374604.72                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| FRP Holdings Inc                            | FRP Holdings Inc                            | CUSIP: 30292L107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    211090 | NS      | $5611827.65   | 3.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Supernus Pharmaceuticals Inc                | Supernus Pharmaceuticals Inc                | CUSIP: 868459108<br>LEI: 549300GRM36VBKISYJ58 | Long             | EC               | CORP              | US        |    189118 | NS      | $6142552.64   | 4.11%             |  |  |  | No            |                  1 | On Loan: No      |
| ICF International Inc                       | ICF International Inc                       | CUSIP: 44925C103<br>LEI: 5493003KYFDDC5B3WY64 | Long             | EC               | CORP              | US        |     46937 | NS      | $3987767.52   | 2.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Visteon Corp                                | Visteon Corp                                | CUSIP: 92839U206<br>LEI: 549300MOVLYHRW4GGW78 | Long             | EC               | CORP              | US        |     10195 | NS      | $807342.05    | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Seaboard Corp                               | Seaboard Corp                               | CUSIP: 811543107<br>LEI: 87Q3KOXT29OW9W9YPT70 | Long             | EC               | CORP              | US        |      1015 | NS      | $2624769.70   | 1.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Dreyfus Treasury Securities Cash Management | Dreyfus Treasury Securities Cash Management | CUSIP: 261941108<br>LEI: 549300U78VESCW509025 | Long             | STIV             | RF                | US        |   6761765 | NS      | $6761764.53   | 4.52%             |  |  |  | No            |                  1 | On Loan: No      |
| BlueLinx Holdings Inc                       | BlueLinx Holdings Inc                       | CUSIP: 09624H208<br>LEI: 549300YSX7GU28F5I540 | Long             | EC               | CORP              | US        |     32962 | NS      | $2147144.68   | 1.44%             |  |  |  | No            |                  1 | On Loan: No      |
| SandRidge Energy Inc                        | SandRidge Energy Inc                        | CUSIP: 80007P869<br>LEI: W1MKPVGS6I5155L7VV67 | Long             | EC               | CORP              | US        |    330144 | NS      | $3007611.84   | 2.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Ambac Financial Group Inc                   | Ambac Financial Group Inc                   | CUSIP: 023139884<br>LEI: 5493000UC0RBBNDHI717 | Long             | EC               | CORP              | US        |    394543 | NS      | $3148453.14   | 2.11%             |  |  |  | No            |                  1 | On Loan: No      |
| MYR Group Inc                               | MYR Group Inc                               | CUSIP: 55405W104<br>LEI: 529900G1IMMZHOQ17I54 | Long             | EC               | CORP              | US        |     72653 | NS      | $8886914.96   | 5.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Southside Bancshares Inc                    | Southside Bancshares Inc                    | CUSIP: 84470P109<br>LEI: 549300TC83207VQA2K65 | Long             | EC               | CORP              | US        |    209426 | NS      | $5903718.94   | 3.95%             |  |  |  | No            |                  1 | On Loan: No      |
| UniFirst Corp/MA                            | UniFirst Corp/MA                            | CUSIP: 904708104<br>LEI: 5493003XBTNWBC8UK019 | Long             | EC               | CORP              | US        |     23309 | NS      | $4159957.23   | 2.78%             |  |  |  | No            |                  1 | On Loan: No      |
| LSB Industries Inc                          | LSB Industries Inc                          | CUSIP: 502160104<br>LEI: 5493001H215A0HG0MI71 | Long             | EC               | CORP              | US        |    787909 | NS      | $5026859.42   | 3.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Five Point Holdings LLC                     | Five Point Holdings LLC                     | CUSIP: 33833Q106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    962705 | NS      | $5063828.30   | 3.39%             |  |  |  | No            |                  1 | On Loan: No      |
| OceanFirst Financial Corp                   | OceanFirst Financial Corp                   | CUSIP: 675234108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    116643 | NS      | $1931608.08   | 1.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Investors Title Co                          | Investors Title Co                          | CUSIP: 461804106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     35700 | NS      | $8253483.00   | 5.52%             |  |  |  | No            |                  1 | On Loan: No      |
| UMB Financial Corp                          | UMB Financial Corp                          | CUSIP: 902788108<br>LEI: 549300MGEH3N3CUCV828 | Long             | EC               | CORP              | US        |    102574 | NS      | $9700423.18   | 6.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Collegium Pharmaceutical Inc                | Collegium Pharmaceutical Inc                | CUSIP: 19459J104<br>LEI: 54930049FXZMTLW8D496 | Long             | EC               | CORP              | US        |    203008 | NS      | $5480200.96   | 3.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Atlanta Braves Holdings Inc                 | Atlanta Braves Holdings Inc                 | CUSIP: 047726104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    164438 | NS      | $7144831.10   | 4.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Atlanta Braves Holdings Inc                 | Atlanta Braves Holdings Inc                 | CUSIP: 047726302<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     25700 | NS      | $1024402.00   | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Tidewater Inc                               | Tidewater Inc                               | CUSIP: 88642R109<br>LEI: 2549000JA5GRUPLMUH98 | Long             | EC               | CORP              | US        |    101786 | NS      | $3683635.34   | 2.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Cantaloupe Inc                              | Cantaloupe Inc                              | CUSIP: 138103106<br>LEI: 529900O54DBQQVWO9Q85 | Long             | EC               | CORP              | US        |    148215 | NS      | $1185720.00   | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Prosperity Bancshares Inc                   | Prosperity Bancshares Inc                   | CUSIP: 743606105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    101965 | NS      | $6923423.50   | 4.63%             |  |  |  | No            |                  1 | On Loan: No      |
| ProAssurance Corp                           | ProAssurance Corp                           | CUSIP: 74267C106<br>LEI: 54930015E5J57R675E89 | Long             | EC               | CORP              | US        |    458661 | NS      | $10645521.81  | 7.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Kaiser Aluminum Corp                        | Kaiser Aluminum Corp                        | CUSIP: 483007704<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     89330 | NS      | $5758211.80   | 3.85%             |  |  |  | No            |                  1 | On Loan: No      |
| PBF Energy Inc                              | PBF Energy Inc                              | CUSIP: 69318G106<br>LEI: 2549003PBEDCSZMZIY02 | Long             | EC               | CORP              | US        |    131050 | NS      | $2251439.00   | 1.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Alamo Group Inc                             | Alamo Group Inc                             | CUSIP: 011311107<br>LEI: 54930080C93RVZRSDV26 | Long             | EC               | CORP              | US        |     16945 | NS      | $2829476.10   | 1.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Central Securities Corp                     | Central Securities Corp                     | CUSIP: 155123102<br>LEI: 549300D87MQ4TEVRK235 | Long             | EC               | RF                | US        |    101812 | NS      | $4508235.36   | 3.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Encore Capital Group Inc                    | Encore Capital Group Inc                    | CUSIP: 292554102<br>LEI: 5493000UVC6H49CIH830 | Long             | EC               | CORP              | US        |    170678 | NS      | $5871323.20   | 3.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Tri Pointe Homes Inc                        | Tri Pointe Homes Inc                        | CUSIP: 87265H109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    155515 | NS      | $4782086.25   | 3.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Hamilton Beach Brands Holding               | Hamilton Beach Brands Holding Co            | CUSIP: 40701T104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    188854 | NS      | $3739309.20   | 2.50%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-06-24

**Name of Applicant:** Third Avenue Trust

**Signature:** Christine S. Catanzaro

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

**Title:** Treasurer and Chief Financial Officer