Third Avenue Small Cap Value Fund Portfolio Manager Commentary Q3 2018

About: ATN International, Inc. (ATNI), LM, ASIX, TASCX, TVSVX, TASZX, Includes: MYRG, SAFM, SMHI, TDW
by: Fund Letters


Our Small-Cap Strategy seeks longterm capital appreciation by investing in equity securities of small capitalization companies in the US that we believe to be mispriced by the market.

Includes detailed analysis of Third Avenue Small-Cap Value Fund's positions in ATNI, LM, ASIX.

For Q3 ending September 30, 2018, the Third Avenue Small Cap Value Fund rose by 0.87%, while the Russell 2000 Value Index rose 1.60%. Year-to-date, the Fund rose 5.91% versus the Index that posted a 7.14%return.