Morningstar, Inc.
Third Avenue Value: Fund Portfolio
 Portfolio Stats
Size Fund Category
Median Market Cap  $9.68 Bil$20.30 Bil

Market Capitalization% of Portfolio
Giant46.06
Large32.64
Medium12.02
Small6.06
Micro3.22

Investment ValuationStock PortfolioCategory
Price/Book1.021.70
Price/Earnings10.0314.62
Price/Cash FlowNA6.02
Price/Sales1.260.88

 Morningstar Historical Ratings
PeriodMorningstar
Return		RiskMorningstar
Rating
3 YearAverageAbove AverageRating: 2 out of 5
5 YearAverageAbove AverageRating: 3 out of 5
10 YearHighAverageRating: 4 out of 5
OverallAbove AverageAbove AverageRating: 3 out of 5

 Sector Weightings
Chart view of Sector Weightings
  Sector% of
Stocks
Information Economy
Software  0.00
Hardware  1.51
Media  0.00
Telecommunications  0.62
Total2.13

Service Economy
Healthcare  0.00
Consumer Services  0.00
Business Services  0.00
Financial Services  69.02
Total69.02

Manufacturing Economy
Consumer Goods  10.69
Industrial Materials  11.63
Energy  6.42
Utilities  0.11
Total28.85

 Modern Portfolio Theory Statistics
MeasurementStandard Index
MSCI EAFE NR USD
R-Squared (1-year)85
Beta (1-year)1.02
Alpha (1-year)-0.81
What does this mean?

 Volatility Measures
Standard Deviation26.63
Mean-0.28
Sharpe Ratio-0.22
Treynor Ratio-8.83
Bear Market Decile Rank7
What does this mean?
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 Morningstar Style Box
What is this?
Style Box for Stock Holdings
Size = Large & Investment Valuation = ValueSize = Large & Investment Valuation = Value
Size = Large & Investment Valuation = Value


 Asset Allocation
Chart view of Asset Allocation
 Type% of Net Assets
Cash3.8
Stocks89.2
Bonds6.5
Other0.6
Foreign (as a % of portfolio)70.2
Morningstar ratings data through 10/31/2009.
Morningstar portfolio data through 7/31/2009.