Third Avenue Management 13F-HR Quarterly holdings report by institutional manager

The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE

OMB APPROVAL

OMB Number:		3235-0006
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COLUMN 1	COLUMN 2	COLUMN 3	COLUMN 4	COLUMN 5			COLUMN 6	COLUMN 7	COLUMN 8
			VALUE	SHRS OR	SH/	PUT/	INVESTMENT	OTHER	VOTING AUTHORITY
NAME OF ISSUER	TITLE OF CLASS	CUSIP	(x$1000)	PRN AMT	PRN	CALL	DISCRETION	MANAGER	SOLE	SHARED	NONE
ABM Industries Inc	COM	000957100	7,664	240,557	SH		SOLE	0	240,557	0	0
Acadia Realty Trust	COM SH BEN INT	004239109	698	19,999	SH		SOLE	0	19,999	0	0
Actuant Corporation	CL A	00508X203	6,122	257,877	SH		SOLE	0	257,877	0	0
AGCO Corp	COM	001084102	80,611	1,692,080	SH		SOLE	0	1,689,300	0	2,780
AGCO Corp	COM	001084102	10,671	224,000	SH		OTR	1	224,000	0	0
Alamo Group, Inc.	COM	011311107	10,980	173,922	SH		SOLE	0	173,922	0	0
Alico, Inc.	COM	016230104	7,363	143,643	SH		SOLE	0	143,643	0	0
Alleghany Corp.	COM	017175100	60,555	124,343	SH		SOLE	0	124,265	0	78
Allscripts Healthcare Solutions, Inc.	COM	01988P108	7,366	615,859	SH		SOLE	0	615,859	0	0
Anixter International Inc.	COM	035290105	7,288	95,737	SH		SOLE	0	95,737	0	0
Annaly Capital Management, Inc.	COM	035710409	137	13,215	SH		SOLE	0	13,215	0	0
Apache Corp	COM	037411105	90,431	1,498,933	SH		SOLE	0	1,495,759	0	3,174
Apache Corp	COM	037411105	9,934	164,655	SH		OTR	1	164,655	0	0
Arch Capital Group Ltd.	ORD	G0450A105	6,375	103,494	SH		SOLE	0	103,494	0	0
Arcos Dorados Holdings, Inc.	SHS CL A	G0457F107	7,204	1,461,176	SH		SOLE	0	1,461,176	0	0
Ares Dynamic Credit Allocation Fund, Inc.	COM	04014F102	4,890	301,131	SH		SOLE	0	301,131	0	0
Ascena Retail Group, Inc.	COM	04351G101	4,051	279,212	SH		SOLE	0	279,212	0	0
Bank of New York Mellon Corp.	COM	064058100	130,701	3,248,034	SH		SOLE	0	3,240,664	0	7,370
Bank of New York Mellon Corp.	COM	064058100	17,090	424,690	SH		OTR	1	424,690	0	0
Barnes Group Inc.	COM	067806109	10,705	264,385	SH		SOLE	0	264,385	0	0
BlackRock Corporate High Yield Fund VI	COM	09255P107	21,855	1,958,371	SH		SOLE	0	1,958,371	0	0
BlackRock Credit Allocation Income Trust	COM	092508100	11,059	821,584	SH		SOLE	0	821,584	0	0
Bristow Group Inc.	COM	110394103	6,952	127,680	SH		SOLE	0	124,552	0	3,128
Broadridge Financial Solutions Inc.	COM	11133T103	6,123	111,313	SH		SOLE	0	111,313	0	0
Brookdale Senior Living Inc.	COM	112463104	123,490	3,270,390	SH		SOLE	0	3,268,414	0	1,976
Brookdale Senior Living Inc.	COM	112463104	702	18,599	SH		OTR	1	18,599	0	0
Brookfield Asset Mgmt. CL A	CL A LTD VT SH	112585104	152,202	2,839,053	SH		SOLE	0	2,837,125	0	1,928
Brookfield Asset Mgmt. CL A	CL A LTD VT SH	112585104	1,010	18,849	SH		OTR	1	18,849	0	0
Capital One Financial 2018 Warrants	W EXP 11/14/2018	14040H139	556	15,000	SH		SOLE	0	15,000	0	0
Capital Southwest	COM	140501107	6,979	150,348	SH		SOLE	0	150,348	0	0
Capstead Mortgage Corporation	COM NO PAR	14067E506	147	12,500	SH		SOLE	0	12,500	0	0
Cavco Industries, Inc. (COM & Restricted)	COM	149568107	115,642	1,540,664	SH		SOLE	0	1,540,664	0	0
CBS Corporation	CL B	124857202	69,894	1,152,797	SH		SOLE	0	1,149,927	0	2,870
CBS Corporation	CL B	124857202	9,143	150,800	SH		OTR	1	150,800	0	0
CEDAR REALTY TRUST INC	COM	150602209	599	80,000	SH		SOLE	0	80,000	0	0
Century Communities Inc.	COM	156504300	2,561	132,474	SH		SOLE	0	132,474	0	0
Circor International Inc.	COM	17273K109	2,358	43,100	SH		SOLE	0	43,100	0	0
City National Corp.	COM	178566105	7,956	89,315	SH		SOLE	0	89,315	0	0
Clean Harbors Inc.	COM	184496107	4,469	78,715	SH		SOLE	0	78,715	0	0
Comerica Inc 2018 Warrants	W EXP 11/14/2018	200340115	1,621	100,000	SH		SOLE	0	100,000	0	0
Comerica Inc.	COM	200340107	128,480	2,846,892	SH		SOLE	0	2,841,531	0	5,361
Comerica Inc.	COM	200340107	13,528	299,758	SH		OTR	1	299,758	0	0
Commerce Bancshares, Inc	COM	200525103	8,431	199,220	SH		SOLE	0	199,220	0	0
Covanta Holding Corporation	COM	22282E102	95,944	4,277,490	SH		SOLE	0	4,272,387	0	5,103
Covanta Holding Corporation	COM	22282E102	489	21,800	SH		OTR	1	21,800	0	0
CSG Systems International, Inc.	COM	126349109	9,701	319,229	SH		SOLE	0	319,229	0	0
CST Brands, Inc	COM	12646R105	7,078	161,481	SH		SOLE	0	161,481	0	0
Cubic, Corp.	COM	229669106	7,061	136,401	SH		SOLE	0	136,401	0	0
Cullen Frost Bankers, Inc.	COM	229899109	8,585	124,271	SH		SOLE	0	124,271	0	0
Darling International Inc.	COM	237266101	3,801	271,325	SH		SOLE	0	271,325	0	0
Deutsche High Income Opportunity Fund	COM	25158Y102	4,447	309,656	SH		SOLE	0	309,656	0	0
Devon Energy Corp.	COM	25179M103	90,439	1,499,563	SH		SOLE	0	1,496,956	0	2,607
Devon Energy Corp.	COM	25179M103	15,555	257,916	SH		OTR	1	257,916	0	0
Dorman Products, Inc.	COM	258278100	6,092	122,452	SH		SOLE	0	122,452	0	0
DST Systems	COM	233326107	1,007	9,100	SH		SOLE	0	9,100	0	0
EMCOR Group, Inc.	COM	29084Q100	11,441	246,200	SH		SOLE	0	246,200	0	0
Encana Corporation	COM	292505104	286	25,600	SH		OTR	1	25,600	0	0
Encore Wire Corporation	COM	292562105	2,531	66,812	SH		SOLE	0	66,812	0	0
EnerSys	COM	29275Y102	8,224	128,025	SH		SOLE	0	128,025	0	0
Equity Commonwealth	COM	294628102	95,354	3,591,479	SH		SOLE	0	3,591,479	0	0
Equity Commonwealth	COM	294628102	1,085	40,876	SH		OTR	1	40,876	0	0
Excel Trust, Inc.	COM	30068C109	545	38,890	SH		SOLE	0	38,890	0	0
First Industrial Realty Trust, Inc.	COM	32054K103	116,038	5,414,733	SH		SOLE	0	5,414,733	0	0
First Industrial Realty Trust, Inc.	COM	32054K103	1,251	58,385	SH		OTR	1	58,385	0	0
First Trust High Income Long/Short Fund	COM	33738E109	13,331	813,828	SH		SOLE	0	813,828	0	0
Forest City Enterprises Inc. CL A	CL A	345550107	168,350	6,596,790	SH		SOLE	0	6,596,790	0	0
Forest City Enterprises Inc. CL A	CL A	345550107	1,717	67,269	SH		OTR	1	67,269	0	0
Forest City Enterprises Inc. CL B	CL B CONV	345550305	63	2,452	SH		SOLE	0	2,452	0	0
Forestar Group Inc.	COM	346233109	2,388	151,436	SH		SOLE	0	151,436	0	0
FTI Consulting Inc.	COM	302941109	10,767	287,435	SH		SOLE	0	287,435	0	0
General Motors Co.	COM	37045V100	68,968	1,839,145	SH		SOLE	0	1,835,995	0	3,150
General Motors Co.	COM	37045V100	829	22,100	SH		OTR	1	22,100	0	0
Genpact Ltd.	COM	G3922B107	9,900	425,805	SH		SOLE	0	425,805	0	0
Glatfelter P. H. Co.	COM	377316104	6,848	248,738	SH		SOLE	0	248,738	0	0
Hatteras Financial Corp.	COM	41902R103	102	5,630	SH		SOLE	0	5,630	0	0
HCC Insurance Holdings	COM	404132102	12,093	213,395	SH		SOLE	0	213,395	0	0
Hyatt Hotels Corp.	CL A	448579102	27,853	470,331	SH		SOLE	0	470,331	0	0
Hyatt Hotels Corp.	CL A	448579102	335	5,650	SH		OTR	1	5,650	0	0
ICF International, Inc.	COM	44925C103	6,916	169,313	SH		SOLE	0	169,313	0	0
Ingram Micro Inc.	CL A	457153104	6,094	242,611	SH		SOLE	0	242,611	0	0
Insight Enterprises, Inc.	COM	45765U103	8,088	283,602	SH		SOLE	0	283,602	0	0
Kaiser Aluminum Corp.	COM PAR $0.01	483007704	8,272	107,583	SH		SOLE	0	107,583	0	0
Keycorp	COM	493267108	53,997	3,813,324	SH		SOLE	0	3,805,728	0	7,596
Kimco Realty Corp	COM	49446R109	699	26,045	SH		SOLE	0	26,045	0	0
Legg Mason Inc.	COM	524901105	9,142	165,614	SH		SOLE	0	165,614	0	0
Leucadia National Corporation	COM	527288104	30,314	1,360,000	SH		SOLE	0	1,348,946	0	11,054
Leucadia National Corporation	COM	527288104	17,606	789,859	SH		OTR	1	789,859	0	0
Loews Corporation	COM	540424108	51,995	1,273,445	SH		SOLE	0	1,270,874	0	2,571
Lowe's Companies Inc.	COM	548661107	93,451	1,256,236	SH		SOLE	0	1,256,236	0	0
Lowe's Companies Inc.	COM	548661107	844	11,340	SH		OTR	1	11,340	0	0
LSB Industries Inc.	COM	502160104	6,893	166,790	SH		SOLE	0	166,790	0	0
Multi-Color Corporation	COM	625383104	4,794	69,147	SH		SOLE	0	69,147	0	0
Neuberger Berman High Yield Strategies Fund	COM	64128C106	5,255	425,826	SH		SOLE	0	425,826	0	0
New America High Income Fund, Inc	COM	641876800	5,156	569,728	SH		SOLE	0	569,728	0	0
NVIDIA Corp	COM	67066G104	55,392	2,647,189	SH		SOLE	0	2,639,745	0	7,444
Pacific Premier Bancorp	COM	69478X105	894	55,209	SH		SOLE	0	55,209	0	0
Patterson Companies Inc	COM	703395103	9,248	189,552	SH		SOLE	0	189,552	0	0
PNC Financial Corp	COM	693475105	52,146	559,269	SH		SOLE	0	558,125	0	1,144
PNC Financial Services Group 2018 Warrants	W EXP 12/31/2018	693475121	51,458	1,964,049	SH		SOLE	0	1,964,049	0	0
PNC Financial Services Group 2018 Warrants	W EXP 12/31/2018	693475121	490	18,705	SH		OTR	1	18,705	0	0
Posco ADR	ADR	693483109	87,620	1,602,994	SH		SOLE	0	1,600,855	0	2,139
Posco ADR	ADR	693483109	16,322	298,612	SH		OTR	1	298,612	0	0
Post Properties Inc.	COM	737464107	74,254	1,304,305	SH		SOLE	0	1,304,305	0	0
Post Properties Inc.	COM	737464107	684	12,009	SH		OTR	1	12,009	0	0
Powell Industries, Inc.	COM	739128106	360	10,650	SH		SOLE	0	10,650	0	0
Powell Industries, Inc.	COM	739128106	290	8,600	SH		OTR	1	8,600	0	0
Progress Software Corporation	COM	743312100	9,533	350,867	SH		SOLE	0	350,867	0	0
Prologis Inc.	COM	74340W103	387	8,880	SH		SOLE	0	8,880	0	0
Prosperity Bancshares Inc.	COM	743606105	8,925	170,057	SH		SOLE	0	170,057	0	0
PS Business Parks, Inc.	COM	69360J107	507	6,100	SH		SOLE	0	6,100	0	0
Radio One Inc Cl D	CL D NON VTG	75040P405	7,119	2,311,360	SH		SOLE	0	2,311,360	0	0
Rayonier Inc.	COM	754907103	90,615	3,361,082	SH		SOLE	0	3,361,082	0	0
Rayonier Inc.	COM	754907103	841	31,200	SH		OTR	1	31,200	0	0
Realogy Holdings Corp.	COM	75605Y106	74,733	1,643,209	SH		SOLE	0	1,643,209	0	0
Realogy Holdings Corp.	COM	75605Y106	705	15,500	SH		OTR	1	15,500	0	0
Rofin-Sinar Technologies Inc.	COM	775043102	8,470	349,558	SH		SOLE	0	349,558	0	0
Rosetta Resources Inc.	COM	777779307	5,016	294,698	SH		SOLE	0	294,698	0	0
Seacor Holdings Inc.	COM	811904101	4,613	66,219	SH		SOLE	0	66,219	0	0
SemGroup Corporation - CL A	CL A	81663A105	7,876	96,825	SH		SOLE	0	96,825	0	0
Spanish Broadcasting System, Inc	CL A	846425833	2,740	681,637	SH		SOLE	0	681,637	0	0
Standard Motor Products, Inc.	COM	853666105	8,708	206,065	SH		SOLE	0	206,065	0	0
Starwood Waypoint Residential REIT	COM	85571W109	67,614	2,615,625	SH		SOLE	0	2,615,625	0	0
Starwood Waypoint Residential REIT	COM	85571W109	653	25,250	SH		OTR	1	25,250	0	0
Stepan Company	COM	858586100	2,466	59,197	SH		SOLE	0	59,197	0	0
Suncoke Energy Inc.	COM	86722A103	6,293	421,206	SH		SOLE	0	421,206	0	0
Symantec Corp	COM	871503108	69,183	2,960,966	SH		SOLE	0	2,958,248	0	2,718
Syntel, Inc.	COM	87162H103	12,413	239,958	SH		SOLE	0	239,958	0	0
Tanger Factory Outlet Centers, Inc	COM	875465106	78,505	2,232,157	SH		SOLE	0	2,232,157	0	0
Tanger Factory Outlet Centers, Inc	COM	875465106	686	19,496	SH		OTR	1	19,496	0	0
Tejon Ranch Co.	COM	879080109	61,129	2,311,121	SH		SOLE	0	2,311,121	0	0
Tejon Ranch Co.	COM	879080109	309	11,682	SH		OTR	1	11,682	0	0
Tejon Ranch Co. WTS EXP 08/31/201	W EXP 08/31/201	879080133	285	356,603	SH		SOLE	0	356,603	0	0
Tejon Ranch Co. WTS EXP 08/31/201	W EXP 08/31/201	879080133	2	2,729	SH		OTR	1	2,729	0	0
Telefex Inc.	COM	879369106	6,775	56,069	SH		SOLE	0	56,069	0	0
Terreno Realty Corp.	COM	88146M101	964	42,290	SH		SOLE	0	42,290	0	0
Tetra Tech, Inc.	COM	88162G103	9,818	408,753	SH		SOLE	0	408,753	0	0
The Macerich Company	COM	554382101	52,554	623,196	SH		SOLE	0	623,196	0	0
The Macerich Company	COM	554382101	492	5,830	SH		OTR	1	5,830	0	0
Total Fina ELF S A ADR	ADR	89151E109	226	4,559	SH		SOLE	0	4,559	0	0
UCP Inc. - Class A	CL A	90265Y106	1,947	223,800	SH		SOLE	0	223,800	0	0
UMB Financial Corporation	COM	902788108	8,456	159,873	SH		SOLE	0	159,873	0	0
UniFirst Corporation	COM	904708104	6,303	53,555	SH		SOLE	0	53,555	0	0
Vail Resorts Inc.	COM	91879Q109	7,337	70,947	SH		SOLE	0	70,947	0	0
Valley National Bancorp	COM	919794107	6,352	672,934	SH		SOLE	0	672,934	0	0
Valmont Industries	COM	920253101	24,844	202,182	SH		SOLE	0	201,757	0	425
Valmont Industries	COM	920253101	233	1,900	SH		OTR	1	1,900	0	0
VCA Antech Inc.	COM	918194101	8,436	153,881	SH		SOLE	0	153,881	0	0
Verizon Communications Corp.	COM	92343V104	68	1,395	SH		SOLE	0	1,395	0	0
Viad Corp.	COM	92552R406	7,964	286,256	SH		SOLE	0	286,256	0	0
Vodafone Group Plc - ADR	ADR	92857W308	110	3,372	SH		SOLE	0	3,372	0	0
Vornado Realty Trust	SH BEN INT	929042109	88,482	790,019	SH		SOLE	0	790,019	0	0
Vornado Realty Trust	SH BEN INT	929042109	819	7,311	SH		OTR	1	7,311	0	0
WCI Communities Inc.	COM	92923C807	11,761	491,049	SH		SOLE	0	491,049	0	0
Wells Fargo & Co. 2018 Warrants	W EXP 10/28/2018	949746119	24,067	1,174,551	SH		SOLE	0	1,174,551	0	0
Wells Fargo & Co. 2018 Warrants	W EXP 10/28/2018	949746119	261	12,752	SH		OTR	1	12,752	0	0
Wells Fargo & Co. NEW	COM	949746101	1,520	27,937	SH		SOLE	0	27,937	0	0
Western Asset High Yield Defined Opportunity Fund	COM	95768B107	8,817	539,286	SH		SOLE	0	539,286	0	0
Western Asset Managed High Income Fund	COM	95766L107	5,303	1,025,669	SH		SOLE	0	1,025,669	0	0
Westlake Chemical Corp.	COM	960413102	353	4,900	SH		SOLE	0	4,900	0	0
Weyerhaeuser Company	COM	962166104	310,018	9,351,961	SH		SOLE	0	9,342,645	0	9,316
Weyerhaeuser Company	COM	962166104	26,953	813,066	SH		OTR	1	813,066	0	0
White Mountains Insurance Group	COM	G9618E107	90,891	132,780	SH		SOLE	0	132,606	0	174
White Mountains Insurance Group	COM	G9618E107	11,767	17,190	SH		OTR	1	17,190	0	0
World Fuel Services Corp	COM	981475106	11,005	191,453	SH		SOLE	0	191,453	0	0
Zions Bancorporation	COM	989701107	77,257	2,861,358	SH		SOLE	0	2,861,358	0	0
Zions Bancorporation	COM	989701107	745	27,600	SH		OTR	1	27,600	0	0