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

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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	4,121	404,033	SH		SOLE	0	404,033	0	0
ABM Industries Inc	COM	000957100	3,918	89,857	SH		SOLE	0	89,857	0	0
Alamo Group, Inc.	COM	011311107	5,296	69,506	SH		SOLE	0	69,506	0	0
Alico, Inc.	COM	016230104	3,412	129,227	SH		SOLE	0	129,227	0	0
Alleghany Corp.	COM	017175100	47,814	77,789	SH		SOLE	0	77,789	0	0
Amgen Inc.	COM	031162100	34,633	211,084	SH		SOLE	0	211,084	0	0
Ani Pharmaceuticals Inc.	COM	00182C103	2,472	49,933	SH		SOLE	0	49,933	0	0
Anixter International Inc.	COM	035290105	28,074	354,028	SH		SOLE	0	354,028	0	0
Arcos Dorados Holdings, Inc.	SHS CL A	G0457F107	10,164	1,262,600	SH		SOLE	0	1,262,600	0	0
Avnet Inc.	COM	053807103	13,011	284,341	SH		SOLE	0	284,341	0	0
Bank of New York Mellon Corp.	COM	064058100	83,509	1,768,136	SH		SOLE	0	1,768,136	0	0
Barnes Group Inc.	COM	067806109	5,350	104,200	SH		SOLE	0	104,200	0	0
BMC Stock Holdings, Inc.	Equity	05591B109	5,736	253,800	SH		SOLE	0	253,800	0	0
Brookdale Senior Living Inc.	COM	112463104	27,799	2,069,954	SH		SOLE	0	2,069,954	0	0
Brookfield Asset Mgmt. CL A	CL A LTD VT SH	112585104	156,596	4,295,013	SH		SOLE	0	4,295,013	0	0
Cambrex Corp.	COM	132011107	4,706	85,485	SH		SOLE	0	85,485	0	0
Capital Southwest	COM	140501107	2,542	150,348	SH		SOLE	0	150,348	0	0
Carrizo Oil & Gas Inc.	COM	144577103	4,682	163,353	SH		SOLE	0	163,353	0	0
Catchmark Timber Trust Inc.	REIT	14912Y202	922	80,000	SH		SOLE	0	80,000	0	0
Cavco Industries, Inc. (COM & Restricted)	COM	149568107	48,477	416,466	SH		SOLE	0	416,466	0	0
CBS Corporation	CL B	124857202	31,187	449,645	SH		SOLE	0	449,645	0	0
CEDAR REALTY TRUST INC	COM	150602209	882	175,700	SH		SOLE	0	175,700	0	0
Century Communities Inc.	COM	156504300	1,447	56,974	SH		SOLE	0	56,974	0	0
Cerner Corp.	COM	156782104	24,134	410,097	SH		SOLE	0	410,097	0	0
Circor International Inc.	COM	17273K109	1,335	22,467	SH		SOLE	0	22,467	0	0
CNH Industrial NV	COM	N20944109	4,404	456,800	SH		SOLE	0	456,800	0	0
Comerica Inc 2018 Warrants	W EXP 11/14/2018	200340115	1,504	38,300	SH		SOLE	0	38,300	0	0
Comerica Inc.	COM	200340107	66,889	975,344	SH		SOLE	0	975,344	0	0
Comfort Systems USA Inc.	COM	199908104	5,914	161,375	SH		SOLE	0	161,375	0	0
Commerce Bancshares, Inc	COM	200525103	8,576	152,706	SH		SOLE	0	152,706	0	0
Core-Mark Holding Co. Inc.	COM	218681104	2,307	73,962	SH		SOLE	0	73,962	0	0
Cosan Ltd.	CL A	G25343107	4,364	511,000	SH		SOLE	0	511,000	0	0
Covanta Holding Corporation	COM	22282E102	8,125	517,546	SH		SOLE	0	517,546	0	0
CSG Systems International, Inc.	COM	126349109	2,541	67,198	SH		SOLE	0	67,198	0	0
CSW Industrials Inc.	COM	126402106	5,518	150,348	SH		SOLE	0	150,348	0	0
Cubic, Corp.	COM	229669106	8,717	165,104	SH		SOLE	0	165,104	0	0
Cullen Frost Bankers, Inc.	COM	229899109	5,908	66,400	SH		SOLE	0	66,400	0	0
Devon Energy Corp.	COM	25179M103	32,054	768,306	SH		SOLE	0	768,306	0	0
Dorman Products, Inc.	COM	258278100	4,796	58,400	SH		SOLE	0	58,400	0	0
DST Systems	COM	233326107	6,137	50,100	SH		SOLE	0	50,100	0	0
DSW Inc.	CL A	23334L102	3,410	164,900	SH		SOLE	0	164,900	0	0
EMCOR Group, Inc.	COM	29084Q100	5,169	82,107	SH		SOLE	0	82,107	0	0
EOG Resources	COM	26875P101	15,305	156,897	SH		SOLE	0	156,897	0	0
Fiesta Restaurant Group, Inc.	COM	31660B101	2,485	102,678	SH		SOLE	0	102,678	0	0
First Industrial Realty Trust, Inc.	COM	32054K103	47,858	1,797,143	SH		SOLE	0	1,797,143	0	0
First Potomac Realty Trust	COM	33610F109	822	80,000	SH		SOLE	0	80,000	0	0
FNF Group	COM	31620R303	25,876	664,500	SH		SOLE	0	664,500	0	0
Forest City Enterprises Inc. CL A	CL A	345605109	105,947	4,864,408	SH		SOLE	0	4,864,408	0	0
Forest City Enterprises Inc. CL B	CL B CONV	345605208	20	702	SH		SOLE	0	702	0	0
FTI Consulting Inc.	COM	302941109	5,780	140,392	SH		SOLE	0	140,392	0	0
Genpact Ltd.	COM	G3922B107	6,298	254,366	SH		SOLE	0	254,366	0	0
G-III Apparel Group Ltd.	COM	36237H101	4,262	194,701	SH		SOLE	0	194,701	0	0
ICF International, Inc.	COM	44925C103	5,981	144,822	SH		SOLE	0	144,822	0	0
Insight Enterprises, Inc.	COM	45765U103	6,069	147,700	SH		SOLE	0	147,700	0	0
Interface Inc.	COM	458665304	4,609	241,920	SH		SOLE	0	241,920	0	0
Johnson Controls International plc	COM	G51502105	32,140	763,067	SH		SOLE	0	763,067	0	0
Kaiser Aluminum Corp.	COM PAR $0.01	483007704	4,912	61,478	SH		SOLE	0	61,478	0	0
Kennedy-Wilson Holdings Inc.	COM	489398107	27,500	1,238,753	SH		SOLE	0	1,238,753	0	0
Keycorp	COM	493267108	17,730	997,176	SH		SOLE	0	997,176	0	0
Korn/Ferry International	COM	500643200	3,952	125,500	SH		SOLE	0	125,500	0	0
Legg Mason Inc.	COM	524901105	3,760	104,132	SH		SOLE	0	104,132	0	0
Lennar Corp - Class B	CL B	526057302	2,109	50,456	SH		SOLE	0	50,456	0	0
Lennar Corp.	COM	526057104	151,354	2,956,713	SH		SOLE	0	2,956,713	0	0
Leucadia National Corporation	COM	527288104	3,919	150,733	SH		SOLE	0	150,733	0	0
Livanova PLC	COM	G5509L101	25,579	521,910	SH		SOLE	0	521,910	0	0
Lowe's Companies Inc.	COM	548661107	45,866	557,911	SH		SOLE	0	557,911	0	0
Masco Corp.	COM	574599106	29,097	856,047	SH		SOLE	0	856,047	0	0
Multi-Color Corporation	COM	625383104	6,052	85,246	SH		SOLE	0	85,246	0	0
MYR Group Inc.	COM	55405W104	2,636	64,300	SH		SOLE	0	64,300	0	0
Netscout Systems Inc.	COM	64115T104	10,224	269,400	SH		SOLE	0	269,400	0	0
NEXPOINT RESIDNL TR	EQUITY	65341D102	604	25,000	SH		SOLE	0	25,000	0	0
Parkway Inc.	REIT	70156Q107	20,778	1,044,662	SH		SOLE	0	1,044,662	0	0
Patterson Companies Inc	COM	703395103	3,686	81,500	SH		SOLE	0	81,500	0	0
Photronics Inc.	COM	719405102	3,644	340,600	SH		SOLE	0	340,600	0	0
PNC Financial Corp	COM	693475105	67,229	559,122	SH		SOLE	0	559,122	0	0
PNC Financial Services Group 2018 Warrants	W EXP 12/31/2018	693475121	62,915	1,186,849	SH		SOLE	0	1,186,849	0	0
Progress Software Corporation	COM	743312100	3,264	112,355	SH		SOLE	0	112,355	0	0
Prosperity Bancshares Inc.	COM	743606105	6,904	99,046	SH		SOLE	0	99,046	0	0
Quanex Building Products	COM	747619104	4,338	214,200	SH		SOLE	0	214,200	0	0
Ralph Lauren Corp.	CL A	751212101	29,436	360,653	SH		SOLE	0	360,653	0	0
Rayonier Inc.	COM	754907103	97,837	3,452,270	SH		SOLE	0	3,452,270	0	0
Seaboard Corp.	COM	811543107	3,907	937	SH		SOLE	0	937	0	0
Shire Plc - ADR	ADR	82481R106	12,110	69,507	SH		SOLE	0	69,507	0	0
Southside Bancshares Inc.	COM	84470P109	7,442	221,678	SH		SOLE	0	221,678	0	0
SP Plus Corp.	COM	78469C103	5,718	169,423	SH		SOLE	0	169,423	0	0
Standard Motor Products, Inc.	COM	853666105	4,206	85,601	SH		SOLE	0	85,601	0	0
Synaptics Inc.	COM	87157D109	4,253	85,907	SH		SOLE	0	85,907	0	0
Syntel, Inc.	COM	87162H103	7,597	451,397	SH		SOLE	0	451,397	0	0
Tanger Factory Outlet Centers, Inc	COM	875465106	1,216	37,119	SH		SOLE	0	37,119	0	0
Tejon Ranch Co.	COM	879080109	47,373	2,164,153	SH		SOLE	0	2,164,153	0	0
Telefex Inc.	COM	879369106	4,457	23,007	SH		SOLE	0	23,007	0	0
Tetra Tech, Inc.	COM	88162G103	6,097	149,244	SH		SOLE	0	149,244	0	0
The Macerich Company	COM	554382101	24,846	385,801	SH		SOLE	0	385,801	0	0
Total Fina ELF S A ADR	ADR	89151E109	142	2,807	SH		SOLE	0	2,807	0	0
Tri Pointe Group Inc.	COM	87265H109	2,605	207,700	SH		SOLE	0	207,700	0	0
Trinet Group Services	COM	896288107	5,358	185,400	SH		SOLE	0	185,400	0	0
Trinity Place Holdings	COM	89656D101	35,300	4,829,014	SH		SOLE	0	4,829,014	0	0
UCP Inc. - Class A	CL A	90265Y106	1,724	169,859	SH		SOLE	0	169,859	0	0
UMB Financial Corporation	COM	902788108	7,282	96,691	SH		SOLE	0	96,691	0	0
UniFirst Corporation	COM	904708104	4,231	29,910	SH		SOLE	0	29,910	0	0
Vail Resorts Inc.	COM	91879Q109	4,191	21,839	SH		SOLE	0	21,839	0	0
Valley National Bancorp	COM	919794107	3,986	337,775	SH		SOLE	0	337,775	0	0
Valmont Industries	COM	920253101	335	2,157	SH		SOLE	0	2,157	0	0
VCA Antech Inc.	COM	918194101	7,362	80,458	SH		SOLE	0	80,458	0	0
Viad Corp.	COM	92552R406	4,933	109,135	SH		SOLE	0	109,135	0	0
Visteon Corp.	COM	92839U206	6,493	66,288	SH		SOLE	0	66,288	0	0
Vodafone Group Plc - ADR	ADR	92857W308	83	3,136	SH		SOLE	0	3,136	0	0
Vornado Realty Trust	SH BEN INT	929042109	60,107	599,214	SH		SOLE	0	599,214	0	0
Weyerhaeuser Company	COM	962166104	201,144	5,919,490	SH		SOLE	0	5,919,490	0	0
White Mountains Insurance Group	COM	G9618E107	56,652	64,386	SH		SOLE	0	64,386	0	0
World Fuel Services Corp	COM	981475106	6,029	166,319	SH		SOLE	0	166,319	0	0
Zions Bancorporation	COM	989701107	23,716	564,658	SH		SOLE	0	564,658	0	0