WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.
<TABLE> <S> <C>
<ARTICLE> 6
<CIK> 0001031661
<NAME> THIRD AVENUE TRUST
<SERIES>
<NUMBER> 2
<NAME> THIRD AVENUE SMALL CAP VALUE FUND
<MULTIPLIER> 1
<S> <C>
<PERIOD-TYPE> 06-MOS
<FISCAL-YEAR-END> OCT-31-2000
<PERIOD-START> NOV-1-2000
<PERIOD-END> APR-30-2000
<INVESTMENTS-AT-COST> 135692856
<INVESTMENTS-AT-VALUE> 135381470
<RECEIVABLES> 2031429
<ASSETS-OTHER> 77619
<OTHER-ITEMS-ASSETS>
<TOTAL-ASSETS> 137490518
<PAYABLE-FOR-SECURITIES> 0
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 12425469
<TOTAL-LIABILITIES> 12425469
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 123743332
<SHARES-COMMON-STOCK> 9996435
<SHARES-COMMON-PRIOR> 10761465
<ACCUMULATED-NII-CURRENT> 278838
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> 1356434
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> (313555)
<NET-ASSETS> 125065049
<DIVIDEND-INCOME> 1131319
<INTEREST-INCOME> 219990
<OTHER-INCOME> 0
<EXPENSES-NET> 829060
<NET-INVESTMENT-INCOME> 522249
<REALIZED-GAINS-CURRENT> 1514838
<APPREC-INCREASE-CURRENT> 11474798
<NET-CHANGE-FROM-OPS> 13511885
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> 991471
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 3723250
<NUMBER-OF-SHARES-REDEEMED> 4565993
<SHARES-REINVESTED> 77713
<NET-CHANGE-IN-ASSETS> 3170038
<ACCUMULATED-NII-PRIOR> 1002937
<ACCUMULATED-GAINS-PRIOR> 748060
<OVERDISTRIB-NII-PRIOR> (158404)
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 566013
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 829060
<AVERAGE-NET-ASSETS> 126504744
<PER-SHARE-NAV-BEGIN> 11.33
<PER-SHARE-NII> .06
<PER-SHARE-GAIN-APPREC> 1 .22
<PER-SHARE-DIVIDEND> .10
<PER-SHARE-DISTRIBUTIONS> 0
<RETURNS-OF-CAPITAL> 0
<PER-SHARE-NAV-END> 12.51
<EXPENSE-RATIO> 1.32
</TABLE>