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	4,672	641,691	SH		SOLE	0	641,691	0	0
ABM Industries Inc	COM	000957100	2,937	103,176	SH		SOLE	0	103,176	0	0
AGCO Corp	COM	001084102	54,163	1,193,288	SH		SOLE	0	1,190,990	0	2,298
AGCO Corp	COM	001084102	10,018	220,700	SH		OTR	1	220,700	0	0
Alamo Group, Inc.	COM	011311107	7,200	138,202	SH		SOLE	0	138,202	0	0
Alico, Inc.	COM	016230104	5,011	129,521	SH		SOLE	0	129,521	0	0
Alleghany Corp.	COM	017175100	43,025	90,024	SH		SOLE	0	89,969	0	55
Allscripts Healthcare Solutions, Inc.	COM	01988P108	4,576	297,524	SH		SOLE	0	297,524	0	0
Ani Pharmaceuticals Inc.	COM	00182C103	2,259	50,053	SH		SOLE	0	50,053	0	0
Anixter International Inc.	COM	035290105	43,146	714,464	SH		SOLE	0	713,443	0	1,021
Anixter International Inc.	COM	035290105	7,500	124,200	SH		OTR	1	124,200	0	0
Apache Corp	COM	037411105	52,011	1,169,579	SH		SOLE	0	1,166,956	0	2,623
Apache Corp	COM	037411105	7,571	170,255	SH		OTR	1	170,255	0	0
Arcos Dorados Holdings, Inc.	SHS CL A	G0457F107	5,416	1,741,451	SH		SOLE	0	1,741,451	0	0
Bank of New York Mellon Corp.	COM	064058100	105,883	2,568,733	SH		SOLE	0	2,563,439	0	5,294
Bank of New York Mellon Corp.	COM	064058100	14,014	339,990	SH		OTR	1	339,990	0	0
Barnes Group Inc.	COM	067806109	7,572	213,965	SH		SOLE	0	213,965	0	0
Baxalta Inc.	COM	07177M103	20,391	522,437	SH		SOLE	0	521,178	0	1,259
BMC STOCK HOLDINGS	Equity	05591B109	3,505	209,240	SH		SOLE	0	209,240	0	0
Broadridge Financial Solutions Inc.	COM	11133T103	5,842	108,725	SH		SOLE	0	108,725	0	0
Brookdale Senior Living Inc.	COM	112463104	53,830	2,916,032	SH		SOLE	0	2,911,915	0	4,117
Brookdale Senior Living Inc.	COM	112463104	3,600	194,999	SH		OTR	1	194,999	0	0
Brookfield Asset Mgmt. CL A	CL A LTD VT SH	112585104	135,395	4,294,167	SH		SOLE	0	4,291,410	0	2,757
Brookfield Asset Mgmt. CL A	CL A LTD VT SH	112585104	929	29,473	SH		OTR	1	29,473	0	0
Capital Southwest	COM	140501107	2,087	150,348	SH		SOLE	0	150,348	0	0
Catchmark Timber Trust Inc.	REIT	14912Y202	1,797	158,900	SH		SOLE	0	158,900	0	0
Cavco Industries, Inc.	COM	149568107	79,769	957,501	SH		SOLE	0	957,501	0	0
CBS Corporation	CL B	124857202	61,007	1,294,442	SH		SOLE	0	1,292,067	0	2,375
CBS Corporation	CL B	124857202	9,615	204,000	SH		OTR	1	204,000	0	0
Century Communities Inc.	COM	156504300	2,346	132,474	SH		SOLE	0	132,474	0	0
Circor International Inc.	COM	17273K109	3,520	83,514	SH		SOLE	0	83,514	0	0
CNH Industrial NV	COM	N20944109	4,109	600,777	SH		SOLE	0	600,777	0	0
Comerica Inc 2018 Warrants	W EXP 11/14/2018	200340115	1,401	100,000	SH		SOLE	0	100,000	0	0
Comerica Inc.	COM	200340107	91,449	2,186,215	SH		SOLE	0	2,181,785	0	4,430
Comerica Inc.	COM	200340107	12,116	289,658	SH		OTR	1	289,658	0	0
Commerce Bancshares, Inc	COM	200525103	8,020	188,533	SH		SOLE	0	188,533	0	0
Cosan Ltd.	CL A	G25343107	4,174	1,131,119	SH		SOLE	0	1,131,119	0	0
Covanta Holding Corporation	COM	22282E102	55,628	3,591,212	SH		SOLE	0	3,583,070	0	8,142
Covanta Holding Corporation	COM	22282E102	507	32,700	SH		OTR	1	32,700	0	0
CSG Systems International, Inc.	COM	126349109	7,688	213,678	SH		SOLE	0	213,678	0	0
CST Brands, Inc	COM	12646R105	6,356	162,381	SH		SOLE	0	162,381	0	0
Cubic, Corp.	COM	229669106	6,684	141,456	SH		SOLE	0	141,456	0	0
Cullen Frost Bankers, Inc.	COM	229899109	5,966	99,434	SH		SOLE	0	99,434	0	0
Devon Energy Corp.	COM	25179M103	26,996	843,631	SH		SOLE	0	841,472	0	2,159
Devon Energy Corp.	COM	25179M103	8,100	253,116	SH		OTR	1	253,116	0	0
Dorman Products, Inc.	COM	258278100	7,352	154,880	SH		SOLE	0	154,880	0	0
DST Systems	COM	233326107	5,079	44,525	SH		SOLE	0	44,525	0	0
DSW Inc.	CL A	23334L102	7,176	300,765	SH		SOLE	0	300,765	0	0
EMCOR Group, Inc.	COM	29084Q100	6,843	142,448	SH		SOLE	0	142,448	0	0
EnerSys	COM	29275Y102	2,607	46,616	SH		SOLE	0	46,616	0	0
Equity Commonwealth	COM	294628102	94,182	3,396,404	SH		SOLE	0	3,396,404	0	0
Equity Commonwealth	COM	294628102	1,161	41,876	SH		OTR	1	41,876	0	0
First Industrial Realty Trust, Inc.	COM	32054K103	140,024	6,327,343	SH		SOLE	0	6,327,343	0	0
First Industrial Realty Trust, Inc.	COM	32054K103	2,124	95,985	SH		OTR	1	95,985	0	0
First Potomac Realty Trust	COM	33610F109	1,653	145,000	SH		SOLE	0	145,000	0	0
Forest City Enterprises Inc. CL A	CL A	345550107	151,231	6,896,101	SH		SOLE	0	6,896,101	0	0
Forest City Enterprises Inc. CL A	CL A	345550107	2,145	97,801	SH		OTR	1	97,801	0	0
FTI Consulting Inc.	COM	302941109	8,175	235,869	SH		SOLE	0	235,869	0	0
General Motors Co.	COM	37045V100	49,588	1,458,043	SH		SOLE	0	1,455,540	0	2,503
Genpact Ltd.	COM	G3922B107	8,027	321,342	SH		SOLE	0	321,342	0	0
Glatfelter P. H. Co.	COM	377316104	2,050	111,171	SH		SOLE	0	111,171	0	0
HERCULES OFFSHORE	Equity	427093307	1,763	812,533	SH		SOLE	0	812,533	0	0
ICF International, Inc.	COM	44925C103	6,791	190,965	SH		SOLE	0	190,965	0	0
Ingram Micro Inc.	CL A	457153104	6,337	208,602	SH		SOLE	0	208,602	0	0
Insight Enterprises, Inc.	COM	45765U103	7,489	298,115	SH		SOLE	0	298,115	0	0
ISHARES RUSSELL 1000 GROWTH ETF	ETF	464287663	300	2,356	SH		SOLE	0	2,356	0	0
Kaiser Aluminum Corp.	COM PAR $0.01	483007704	7,551	90,260	SH		SOLE	0	90,260	0	0
Kennedy-Wilson Holdings Inc.	COM	489398107	12,907	536,000	SH		SOLE	0	536,000	0	0
Kennedy-Wilson Holdings Inc.	COM	489398107	164	6,800	SH		OTR	1	6,800	0	0
Keycorp	COM	493267108	19,822	1,502,820	SH		SOLE	0	1,496,542	0	6,278
Kirby Corporation	COM	497266106	9,690	184,154	SH		SOLE	0	184,154	0	0
Legg Mason Inc.	COM	524901105	4,098	104,455	SH		SOLE	0	104,455	0	0
Leucadia National Corporation	COM	527288104	4,002	230,155	SH		SOLE	0	230,155	0	0
Loews Corporation	COM	540424108	26,946	701,723	SH		SOLE	0	699,598	0	2,125
Lowe's Companies Inc.	COM	548661107	89,568	1,177,911	SH		SOLE	0	1,177,911	0	0
Lowe's Companies Inc.	COM	548661107	908	11,940	SH		OTR	1	11,940	0	0
Masco Corp.	COM	574599106	43,250	1,528,258	SH		SOLE	0	1,524,603	0	3,655
Multi-Color Corporation	COM	625383104	5,673	94,842	SH		SOLE	0	94,842	0	0
MYR Group Inc.	COM	55405W104	2,396	116,260	SH		SOLE	0	116,260	0	0
Noranda Aluminum Holding	COM	65542W107	107	333,434	SH		SOLE	0	333,434	0	0
Patterson Companies Inc	COM	703395103	4,943	109,335	SH		SOLE	0	109,335	0	0
PNC Financial Corp	COM	693475105	67,113	704,154	SH		SOLE	0	702,794	0	1,360
PNC Financial Services Group 2018 Warrants	W EXP 12/31/2018	693475121	70,404	2,452,249	SH		SOLE	0	2,452,249	0	0
PNC Financial Services Group 2018 Warrants	W EXP 12/31/2018	693475121	727	25,305	SH		OTR	1	25,305	0	0
Posco ADR	ADR	693483109	13,859	391,953	SH		SOLE	0	390,185	0	1,768
Posco ADR	ADR	693483109	9,190	259,912	SH		OTR	1	259,912	0	0
Post Properties Inc.	COM	737464107	71,835	1,214,242	SH		SOLE	0	1,214,242	0	0
Post Properties Inc.	COM	737464107	734	12,409	SH		OTR	1	12,409	0	0
Progress Software Corporation	COM	743312100	5,462	227,592	SH		SOLE	0	227,592	0	0
Prosperity Bancshares Inc.	COM	743606105	5,919	123,681	SH		SOLE	0	123,681	0	0
Radio One Inc Cl D	CL D NON VTG	75040P405	3,660	2,127,789	SH		SOLE	0	2,127,789	0	0
Rayonier Inc.	COM	754907103	113,306	5,103,870	SH		SOLE	0	5,103,870	0	0
Rayonier Inc.	COM	754907103	1,252	56,400	SH		OTR	1	56,400	0	0
SemGroup Corporation - CL A	CL A	81663A105	4,107	142,302	SH		SOLE	0	142,302	0	0
Southside Bancshares Inc.	COM	84470P109	4,747	197,624	SH		SOLE	0	197,624	0	0
Spanish Broadcasting System, Inc	CL A	846425833	2,168	669,212	SH		SOLE	0	669,212	0	0
SPDR TR UNIT SER 1	ETF	78462F103	303	1,487	SH		SOLE	0	1,487	0	0
SPX Flow Inc.	COM	78469X107	3,151	112,915	SH		SOLE	0	112,915	0	0
Standard Motor Products, Inc.	COM	853666105	7,151	187,940	SH		SOLE	0	187,940	0	0
Symantec Corp	COM	871503108	46,617	2,219,838	SH		SOLE	0	2,217,597	0	2,241
Syntel, Inc.	COM	87162H103	7,255	160,322	SH		SOLE	0	160,322	0	0
Tanger Factory Outlet Centers, Inc	COM	875465106	67,772	2,072,525	SH		SOLE	0	2,072,525	0	0
Tanger Factory Outlet Centers, Inc	COM	875465106	660	20,196	SH		OTR	1	20,196	0	0
Tejon Ranch Co.	COM	879080109	43,126	2,251,988	SH		SOLE	0	2,251,988	0	0
Tejon Ranch Co.	COM	879080109	224	11,682	SH		OTR	1	11,682	0	0
Tejon Ranch Co. WTS EXP 08/31/2016	W EXP 08/31/2016	879080133	3	352,189	SH		SOLE	0	352,189	0	0
Tejon Ranch Co. WTS EXP 08/31/2016	W EXP 08/31/2016	879080133	0	2,729	SH		OTR	1	2,729	0	0
Telefex Inc.	COM	879369106	6,041	45,957	SH		SOLE	0	45,957	0	0
Tetra Tech, Inc.	COM	88162G103	7,027	270,075	SH		SOLE	0	270,075	0	0
The Macerich Company	COM	554382101	143,564	1,779,201	SH		SOLE	0	1,779,201	0	0
The Macerich Company	COM	554382101	2,149	26,630	SH		OTR	1	26,630	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	2,448	340,000	SH		SOLE	0	340,000	0	0
UMB Financial Corporation	COM	902788108	7,442	159,873	SH		SOLE	0	159,873	0	0
UniFirst Corporation	COM	904708104	3,753	36,021	SH		SOLE	0	36,021	0	0
Vail Resorts Inc.	COM	91879Q109	4,577	35,762	SH		SOLE	0	35,762	0	0
Valley National Bancorp	COM	919794107	7,155	726,392	SH		SOLE	0	726,392	0	0
Valmont Industries	COM	920253101	900	8,489	SH		SOLE	0	8,137	0	352
VCA Antech Inc.	COM	918194101	7,292	132,590	SH		SOLE	0	132,590	0	0
Viad Corp.	COM	92552R406	6,144	217,637	SH		SOLE	0	217,637	0	0
Visteon Corp.	COM	92839U206	14,145	123,533	SH		SOLE	0	123,533	0	0
Vodafone Group Plc - ADR	ADR	92857W308	102	3,159	SH		SOLE	0	3,159	0	0
Vornado Realty Trust	SH BEN INT	929042109	122,272	1,223,214	SH		SOLE	0	1,223,214	0	0
Vornado Realty Trust	SH BEN INT	929042109	1,291	12,911	SH		OTR	1	12,911	0	0
WCI Communities Inc.	COM	92923C807	10,695	480,015	SH		SOLE	0	480,015	0	0
Wells Fargo & Co. 2018 Warrants	W EXP 10/28/2018	949746119	23,698	1,156,551	SH		SOLE	0	1,156,551	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	2,263	41,637	SH		SOLE	0	41,637	0	0
Weyerhaeuser Company	COM	962166104	256,107	8,542,587	SH		SOLE	0	8,534,113	0	8,474
Weyerhaeuser Company	COM	962166104	18,062	602,466	SH		OTR	1	602,466	0	0
White Mountains Insurance Group	COM	G9618E107	64,895	89,287	SH		SOLE	0	89,143	0	144
WMI Holdings Corp,	COM	92936P100	719	277,706	SH		SOLE	0	277,706	0	0
World Fuel Services Corp	COM	981475106	7,140	185,651	SH		SOLE	0	185,651	0	0
Zions Bancorporation	COM	989701107	73,575	2,695,058	SH		SOLE	0	2,695,058	0	0
Zions Bancorporation	COM	989701107	786	28,800	SH		OTR	1	28,800	0	0