Third Avenue Real Estate Value Fund’s Updates on Fidelity National Financial (FNF)

Group 1 - Third Avenue Real Estate Value Fund achieved a return of +11.61% in 2025, outperforming the MSCI ACWI IMI Core Real Estate Index, which returned +9.86% [1] - Since its inception in 1998, the Fund has generated an annualized return of +8.96% [1] - The Fund's capital allocation includes 40.3% in U.S.-based companies, 27.5% in North American-based companies, 27.6% in International Real Estate companies, and 4.6% in Cash, Debt & Options [1] Group 2 - Fidelity National Financial, Inc. (NYSE:FNF) is highlighted as a key holding, with a market capitalization of $13.589 billion [2] - The stock of Fidelity National Financial, Inc. closed at $50.08 per share on March 06, 2026, with a one-month return of -11.00% and a 52-week loss of 18.66% [2] - The Fund noted significant resource conversion activities, with over one-third of its portfolio engaged in such initiatives, including Fidelity National Financial's distribution of a near $500 million stake in its life insurance affiliate F&G Annuities and Life [3]