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

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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
1-800-Flowers.com Inc.	CL A	68243Q106	5,943	653,109	SH		SOLE	0	653,109	0	0
ABM Industries Inc	COM	000957100	4,689	171,701	SH		SOLE	0	171,701	0	0
Acadia Realty Trust	COM SH BEN INT	004239109	601	19,999	SH		SOLE	0	19,999	0	0
Advanced Micro Devices	COM	007903107	430	250,000	SH		SOLE	0	250,000	0	0
AGCO Corp	COM	001084102	10,338	221,700	SH		OTR	1	221,700	0	0
AGCO Corp	COM	001084102	75,333	1,615,543	SH		SOLE	0	1,612,763	0	2,780
Alamo Group, Inc.	COM	011311107	7,597	162,499	SH		SOLE	0	162,499	0	0
Alico, Inc.	COM	016230104	5,830	143,643	SH		SOLE	0	143,643	0	0
Alleghany Corp.	COM	017175100	49,057	104,799	SH		SOLE	0	104,721	0	78
Allscripts Healthcare Solutions, Inc.	COM	01988P108	3,692	297,717	SH		SOLE	0	297,717	0	0
Ani Pharmaceuticals Inc.	COM	00182C103	2,359	59,716	SH		SOLE	0	59,716	0	0
Anixter International Inc.	COM	035290105	8,291	143,500	SH		OTR	1	143,500	0	0
Anixter International Inc.	COM	035290105	41,101	711,333	SH		SOLE	0	710,097	0	1,236
Apache Corp	COM	037411105	6,706	171,255	SH		OTR	1	171,255	0	0
Apache Corp	COM	037411105	46,986	1,199,854	SH		SOLE	0	1,196,680	0	3,174
Arcos Dorados Holdings, Inc.	SHS CL A	G0457F107	4,743	1,743,763	SH		SOLE	0	1,743,763	0	0
Ares Dynamic Credit Allocation Fund, Inc.	COM	04014F102	3,548	253,978	SH		SOLE	0	253,978	0	0
Bank of New York Mellon Corp.	COM	064058100	13,964	356,690	SH		OTR	1	356,690	0	0
Bank of New York Mellon Corp.	COM	064058100	109,618	2,799,948	SH		SOLE	0	2,793,538	0	6,410
Barnes Group Inc.	COM	067806109	9,058	251,271	SH		SOLE	0	251,271	0	0
BlackRock Corporate High Yield Fund VI	COM	09255P107	12,875	1,304,420	SH		SOLE	0	1,304,420	0	0
BlackRock Credit Allocation Income Trust	COM	092508100	4,990	409,999	SH		SOLE	0	409,999	0	0
Broadridge Financial Solutions Inc.	COM	11133T103	6,161	111,313	SH		SOLE	0	111,313	0	0
Brookdale Senior Living Inc.	COM	112463104	4,886	212,799	SH		OTR	1	212,799	0	0
Brookdale Senior Living Inc.	COM	112463104	129,837	5,654,933	SH		SOLE	0	5,651,135	0	3,798
Brookfield Asset Mgmt. CL A	CL A LTD VT SH	112585104	107	3,400	SH		DFND	1	0	3,400	0
Brookfield Asset Mgmt. CL A	CL A LTD VT SH	112585104	942	29,973	SH		OTR	1	29,973	0	0
Brookfield Asset Mgmt. CL A	CL A LTD VT SH	112585104	143,206	4,554,908	SH		SOLE	0	4,551,653	0	3,256
Capital Southwest	COM	140501107	7,126	150,348	SH		SOLE	0	150,348	0	0
Catchmark Timber Trust Inc.	REIT	14912Y202	1,633	158,900	SH		SOLE	0	158,900	0	0
Cavco Industries, Inc. (COM & Restricted)	COM	149568107	94,494	1,387,781	SH		SOLE	0	1,387,781	0	0
CBS Corporation	CL B	124857202	8,203	205,600	SH		OTR	1	205,600	0	0
CBS Corporation	CL B	124857202	54,005	1,353,506	SH		SOLE	0	1,350,636	0	2,870
CEDAR REALTY TRUST INC	COM	150602209	497	80,000	SH		SOLE	0	80,000	0	0
Century Communities Inc.	COM	156504300	2,630	132,474	SH		SOLE	0	132,474	0	0
Circor International Inc.	COM	17273K109	4,667	116,329	SH		SOLE	0	116,329	0	0
City National Corp.	COM	178566105	5,402	61,349	SH		SOLE	0	61,349	0	0
CNH Industrial NV	COM	N20944109	4,023	617,057	SH		SOLE	0	617,057	0	0
Comerica Inc 2018 Warrants	W EXP 11/14/2018	200340115	1,268	100,000	SH		SOLE	0	100,000	0	0
Comerica Inc.	COM	200340107	11,971	291,258	SH		OTR	1	291,258	0	0
Comerica Inc.	COM	200340107	94,533	2,300,076	SH		SOLE	0	2,294,715	0	5,361
Commerce Bancshares, Inc	COM	200525103	9,079	199,269	SH		SOLE	0	199,269	0	0
Cosan Ltd.	CL A	G25343107	2,924	1,011,834	SH		SOLE	0	1,011,834	0	0
Covanta Holding Corporation	COM	22282E102	571	32,700	SH		OTR	1	32,700	0	0
Covanta Holding Corporation	COM	22282E102	74,373	4,262,044	SH		SOLE	0	4,254,873	0	7,171
CSG Systems International, Inc.	COM	126349109	9,312	302,329	SH		SOLE	0	302,329	0	0
CST Brands, Inc	COM	12646R105	5,977	177,570	SH		SOLE	0	177,570	0	0
Cubic, Corp.	COM	229669106	6,614	157,710	SH		SOLE	0	157,710	0	0
Cullen Frost Bankers, Inc.	COM	229899109	6,971	109,634	SH		SOLE	0	109,634	0	0
Devon Energy Corp.	COM	25179M103	9,436	254,416	SH		OTR	1	254,416	0	0
Devon Energy Corp.	COM	25179M103	32,083	865,010	SH		SOLE	0	862,403	0	2,607
Dorman Products, Inc.	COM	258278100	7,948	156,173	SH		SOLE	0	156,173	0	0
DST Systems	COM	233326107	4,683	44,541	SH		SOLE	0	44,541	0	0
DSW Inc.	CL A	23334L102	5,745	226,990	SH		SOLE	0	226,990	0	0
EMCOR Group, Inc.	COM	29084Q100	7,385	166,899	SH		SOLE	0	166,899	0	0
EnerSys	COM	29275Y102	3,449	64,368	SH		SOLE	0	64,368	0	0
Equity Commonwealth	COM	294628102	155	5,700	SH		DFND	1	0	5,700	0
Equity Commonwealth	COM	294628102	1,160	42,576	SH		OTR	1	42,576	0	0
Equity Commonwealth	COM	294628102	99,695	3,659,879	SH		SOLE	0	3,659,879	0	0
First Industrial Realty Trust, Inc.	COM	32054K103	210	10,000	SH		DFND	1	0	10,000	0
First Industrial Realty Trust, Inc.	COM	32054K103	2,166	103,385	SH		OTR	1	103,385	0	0
First Industrial Realty Trust, Inc.	COM	32054K103	155,341	7,414,833	SH		SOLE	0	7,414,833	0	0
First Potomac Realty Trust	COM	33610F109	1,595	145,000	SH		SOLE	0	145,000	0	0
First Trust High Income Long/Short Fund	COM	33738E109	11,854	841,294	SH		SOLE	0	841,294	0	0
Forest City Enterprises Inc. CL A	CL A	345550107	171	8,500	SH		DFND	1	0	8,500	0
Forest City Enterprises Inc. CL A	CL A	345550107	1,999	99,301	SH		OTR	1	99,301	0	0
Forest City Enterprises Inc. CL A	CL A	345550107	160,923	7,994,184	SH		SOLE	0	7,994,184	0	0
Forest City Enterprises Inc. CL B	CL B CONV	345550305	15	702	SH		SOLE	0	702	0	0
FTI Consulting Inc.	COM	302941109	8,752	210,845	SH		SOLE	0	210,845	0	0
General Motors Co.	COM	37045V100	615	20,500	SH		OTR	1	20,500	0	0
General Motors Co.	COM	37045V100	55,471	1,847,785	SH		SOLE	0	1,844,635	0	3,150
Genpact Ltd.	COM	G3922B107	10,055	425,885	SH		SOLE	0	425,885	0	0
Glatfelter P. H. Co.	COM	377316104	2,800	162,579	SH		SOLE	0	162,579	0	0
HCC Insurance Holdings	COM	404132102	14,534	187,613	SH		SOLE	0	187,613	0	0
Hyatt Hotels Corp.	CL A	448579102	261	5,550	SH		OTR	1	5,550	0	0
Hyatt Hotels Corp.	CL A	448579102	22,459	476,831	SH		SOLE	0	476,831	0	0
ICF International, Inc.	COM	44925C103	5,924	194,918	SH		SOLE	0	194,918	0	0
Ingram Micro Inc.	CL A	457153104	6,609	242,611	SH		SOLE	0	242,611	0	0
Insight Enterprises, Inc.	COM	45765U103	7,331	283,602	SH		SOLE	0	283,602	0	0
ISHARES RUSSELL 1000 GROWTH ETF	ETF	464287663	2,002	16,465	SH		SOLE	0	16,465	0	0
Kaiser Aluminum Corp.	COM PAR $0.01	483007704	8,636	107,610	SH		SOLE	0	107,610	0	0
Kennedy-Wilson Holdings Inc.	COM	489398107	157	7,100	SH		OTR	1	7,100	0	0
Kennedy-Wilson Holdings Inc.	COM	489398107	16,426	740,900	SH		SOLE	0	740,900	0	0
Keycorp	COM	493267108	32,592	2,505,146	SH		SOLE	0	2,497,550	0	7,596
Kimco Realty Corp	COM	49446R109	636	26,045	SH		SOLE	0	26,045	0	0
Legg Mason Inc.	COM	524901105	6,891	165,614	SH		SOLE	0	165,614	0	0
Leucadia National Corporation	COM	527288104	11,472	566,259	SH		OTR	1	566,259	0	0
Leucadia National Corporation	COM	527288104	16,153	797,296	SH		SOLE	0	786,242	0	11,054
Loews Corporation	COM	540424108	43,778	1,211,350	SH		SOLE	0	1,208,779	0	2,571
Lowe's Companies Inc.	COM	548661107	837	12,140	SH		OTR	1	12,140	0	0
Lowe's Companies Inc.	COM	548661107	88,082	1,278,036	SH		SOLE	0	1,278,036	0	0
LSB Industries Inc.	COM	502160104	2,556	166,837	SH		SOLE	0	166,837	0	0
Masco Corp.	COM	574599106	46,348	1,840,671	SH		SOLE	0	1,836,251	0	4,420
Multi-Color Corporation	COM	625383104	6,702	87,613	SH		SOLE	0	87,613	0	0
Neuberger Berman High Yield Strategies Fund	COM	64128C106	4,339	425,826	SH		SOLE	0	425,826	0	0
New America High Income Fund, Inc	COM	641876800	4,745	595,362	SH		SOLE	0	595,362	0	0
Noble Energy Inc.	COM	655044105	3,689	122,223	SH		SOLE	0	122,223	0	0
Noranda Aluminum Holding	COM	65542W107	547	333,434	SH		SOLE	0	333,434	0	0
NVIDIA Corp	COM	67066G104	42,837	1,737,803	SH		SOLE	0	1,733,688	0	4,115
Patterson Companies Inc	COM	703395103	6,277	145,133	SH		SOLE	0	145,133	0	0
PNC Financial Corp	COM	693475105	107	1,200	SH		DFND	1	0	1,200	0
PNC Financial Corp	COM	693475105	64,331	721,199	SH		SOLE	0	720,055	0	1,144
PNC Financial Services Group 2018 Warrants	W EXP 12/31/2018	693475121	615	25,305	SH		OTR	1	25,305	0	0
PNC Financial Services Group 2018 Warrants	W EXP 12/31/2018	693475121	59,838	2,462,449	SH		SOLE	0	2,462,449	0	0
Posco ADR	ADR	693483109	9,102	259,912	SH		OTR	1	259,912	0	0
Posco ADR	ADR	693483109	43,903	1,253,669	SH		SOLE	0	1,251,530	0	2,139
Post Properties Inc.	COM	737464107	93	1,600	SH		DFND	1	0	1,600	0
Post Properties Inc.	COM	737464107	741	12,709	SH		OTR	1	12,709	0	0
Post Properties Inc.	COM	737464107	77,334	1,326,705	SH		SOLE	0	1,326,705	0	0
Powell Industries, Inc.	COM	739128106	187	6,200	SH		OTR	1	6,200	0	0
Progress Software Corporation	COM	743312100	6,668	258,146	SH		SOLE	0	258,146	0	0
Prologis Inc.	COM	74340W103	345	8,880	SH		SOLE	0	8,880	0	0
Prosperity Bancshares Inc.	COM	743606105	7,289	148,415	SH		SOLE	0	148,415	0	0
PS Business Parks, Inc.	COM	69360J107	484	6,100	SH		SOLE	0	6,100	0	0
Radio One Inc Cl D	CL D NON VTG	75040P405	4,923	2,311,360	SH		SOLE	0	2,311,360	0	0
Rayonier Inc.	COM	754907103	166	7,500	SH		DFND	1	0	7,500	0
Rayonier Inc.	COM	754907103	1,251	56,700	SH		OTR	1	56,700	0	0
Rayonier Inc.	COM	754907103	120,610	5,464,882	SH		SOLE	0	5,464,882	0	0
Realogy Holdings Corp.	COM	75605Y106	98	2,600	SH		DFND	1	0	2,600	0
Realogy Holdings Corp.	COM	75605Y106	587	15,600	SH		OTR	1	15,600	0	0
Realogy Holdings Corp.	COM	75605Y106	62,873	1,670,809	SH		SOLE	0	1,670,809	0	0
Rofin-Sinar Technologies Inc.	COM	775043102	2,499	96,385	SH		SOLE	0	96,385	0	0
SemGroup Corporation - CL A	CL A	81663A105	4,500	104,077	SH		SOLE	0	104,077	0	0
Southside Bancshares Inc.	COM	84470P109	5,349	194,170	SH		SOLE	0	194,170	0	0
Spanish Broadcasting System, Inc	CL A	846425833	3,585	681,637	SH		SOLE	0	681,637	0	0
SPDR TR UNIT SER 1	ETF	78462F103	1,998	10,425	SH		SOLE	0	10,425	0	0
SPX Corporation	COM	784635104	990	83,019	SH		SOLE	0	83,019	0	0
SPX Flow Inc.	COM	78469X107	4,651	135,078	SH		SOLE	0	135,078	0	0
Standard Motor Products, Inc.	COM	853666105	7,893	226,298	SH		SOLE	0	226,298	0	0
Symantec Corp	COM	871503108	56,446	2,899,118	SH		SOLE	0	2,896,400	0	2,718
Syntel, Inc.	COM	87162H103	8,537	188,413	SH		SOLE	0	188,413	0	0
Tanger Factory Outlet Centers, Inc	COM	875465106	672	20,396	SH		OTR	1	20,396	0	0
Tanger Factory Outlet Centers, Inc	COM	875465106	74,755	2,267,357	SH		SOLE	0	2,267,357	0	0
Tejon Ranch Co.	COM	879080109	255	11,682	SH		OTR	1	11,682	0	0
Tejon Ranch Co.	COM	879080109	49,746	2,280,900	SH		SOLE	0	2,280,900	0	0
Tejon Ranch Co. WTS EXP 08/31/201	W EXP 08/31/201	879080133	0	2,729	SH		OTR	1	2,729	0	0
Tejon Ranch Co. WTS EXP 08/31/201	W EXP 08/31/201	879080133	57	354,603	SH		SOLE	0	354,603	0	0
Telefex Inc.	COM	879369106	6,964	56,069	SH		SOLE	0	56,069	0	0
Terreno Realty Corp.	COM	88146M101	831	42,290	SH		SOLE	0	42,290	0	0
Tetra Tech, Inc.	COM	88162G103	8,429	346,716	SH		SOLE	0	346,716	0	0
The Macerich Company	COM	554382101	184	2,400	SH		DFND	1	0	2,400	0
The Macerich Company	COM	554382101	2,107	27,430	SH		OTR	1	27,430	0	0
The Macerich Company	COM	554382101	147,771	1,923,596	SH		SOLE	0	1,923,596	0	0
Total Fina ELF S A ADR	ADR	89151E109	137	3,056	SH		SOLE	0	3,056	0	0
UCP Inc. - Class A	CL A	90265Y106	2,281	340,000	SH		SOLE	0	340,000	0	0
UMB Financial Corporation	COM	902788108	8,123	159,873	SH		SOLE	0	159,873	0	0
UniFirst Corporation	COM	904708104	5,389	50,455	SH		SOLE	0	50,455	0	0
Vail Resorts Inc.	COM	91879Q109	5,727	54,710	SH		SOLE	0	54,710	0	0
Valley National Bancorp	COM	919794107	6,622	672,934	SH		SOLE	0	672,934	0	0
Valmont Industries	COM	920253101	1,415	14,911	SH		SOLE	0	14,486	0	425
VCA Antech Inc.	COM	918194101	8,105	153,935	SH		SOLE	0	153,935	0	0
Viad Corp.	COM	92552R406	8,301	286,329	SH		SOLE	0	286,329	0	0
Visteon Corp.	COM	92839U206	12,254	121,038	SH		SOLE	0	121,038	0	0
Vodafone Group Plc - ADR	ADR	92857W308	74	2,326	SH		SOLE	0	2,326	0	0
Vornado Realty Trust	SH BEN INT	929042109	163	1,800	SH		DFND	1	0	1,800	0
Vornado Realty Trust	SH BEN INT	929042109	1,185	13,111	SH		OTR	1	13,111	0	0
Vornado Realty Trust	SH BEN INT	929042109	117,720	1,301,919	SH		SOLE	0	1,301,919	0	0
WCI Communities Inc.	COM	92923C807	11,438	505,435	SH		SOLE	0	505,435	0	0
Wells Fargo & Co. 2018 Warrants	W EXP 10/28/2018	949746119	231	12,752	SH		OTR	1	12,752	0	0
Wells Fargo & Co. 2018 Warrants	W EXP 10/28/2018	949746119	21,076	1,165,051	SH		SOLE	0	1,165,051	0	0
Wells Fargo & Co. NEW	COM	949746101	2,266	44,137	SH		SOLE	0	44,137	0	0
Western Asset High Yield Defined Opportunity Fund	COM	95768B107	7,875	562,522	SH		SOLE	0	562,522	0	0
Western Asset Managed High Income Fund	COM	95766L107	4,585	1,025,669	SH		SOLE	0	1,025,669	0	0
Weyerhaeuser Company	COM	962166104	205	7,500	SH		DFND	1	0	7,500	0
Weyerhaeuser Company	COM	962166104	22,628	827,666	SH		OTR	1	827,666	0	0
Weyerhaeuser Company	COM	962166104	299,919	10,969,969	SH		SOLE	0	10,959,713	0	10,256
White Mountains Insurance Group	COM	G9618E107	82,133	109,906	SH		SOLE	0	109,732	0	174
WMI Holdings Corp,	COM	92936P100	765	296,406	SH		SOLE	0	296,406	0	0
World Fuel Services Corp	COM	981475106	6,647	185,684	SH		SOLE	0	185,684	0	0
Zions Bancorporation	COM	989701107	785	28,500	SH		OTR	1	28,500	0	0
Zions Bancorporation	COM	989701107	80,030	2,905,958	SH		SOLE	0	2,905,958	0	0