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
ABM Industries Inc	COM	000957100	3,748	89,857	SH		SOLE	0	89,857	0	0
Alamo Group, Inc.	COM	011311107	5,015	46,706	SH		SOLE	0	46,706	0	0
Alico, Inc.	COM	016230104	4,089	119,727	SH		SOLE	0	119,727	0	0
Alleghany Corp.	COM	017175100	38,347	69,217	SH		SOLE	0	69,217	0	0
Amgen Inc.	COM	031162100	39,178	210,124	SH		SOLE	0	210,124	0	0
AMN Healthcare Services Inc.	COM	001744101	6,565	143,642	SH		SOLE	0	143,642	0	0
Anixter International Inc.	COM	035290105	29,950	352,351	SH		SOLE	0	352,351	0	0
Arcos Dorados Holdings, Inc.	SHS CL A	G0457F107	9,761	971,150	SH		SOLE	0	971,150	0	0
Avnet Inc.	COM	053807103	526	13,379	SH		SOLE	0	13,379	0	0
Bank of New York Mellon Corp.	COM	064058100	82,198	1,550,304	SH		SOLE	0	1,550,304	0	0
Barnes Group Inc.	COM	067806109	4,762	67,600	SH		SOLE	0	67,600	0	0
BMC Stock Holdings, Inc.	Equity	05591B109	5,782	270,800	SH		SOLE	0	270,800	0	0
Brookfield Asset Mgmt. CL A	CL A LTD VT SH	112585104	177,620	4,300,707	SH		SOLE	0	4,300,707	0	0
Cambrex Corp.	COM	132011107	3,470	63,085	SH		SOLE	0	63,085	0	0
Capital Southwest	COM	140501107	2,576	150,348	SH		SOLE	0	150,348	0	0
Carrizo Oil & Gas Inc.	COM	144577103	5,096	297,453	SH		SOLE	0	297,453	0	0
Catchmark Timber Trust Inc.	REIT	14912Y202	1,009	80,000	SH		SOLE	0	80,000	0	0
Cavco Industries, Inc. (COM & Restricted)	COM	149568107	40,016	271,200	SH		SOLE	0	271,200	0	0
CBS Corporation	CL B	124857202	20,491	353,287	SH		SOLE	0	353,287	0	0
CEDAR REALTY TRUST INC	COM	150602209	988	175,700	SH		SOLE	0	175,700	0	0
Century Communities Inc.	COM	156504300	1,771	71,671	SH		SOLE	0	71,671	0	0
Cerner Corp.	COM	156782104	29,152	408,748	SH		SOLE	0	408,748	0	0
CNH Industrial NV	COM	N20944109	3,184	265,100	SH		SOLE	0	265,100	0	0
Comerica Inc 2018 Warrants	W EXP 11/14/2018	200340115	1,566	33,300	SH		SOLE	0	33,300	0	0
Comerica Inc.	COM	200340107	64,636	847,570	SH		SOLE	0	847,570	0	0
Comfort Systems USA Inc.	COM	199908104	6,051	169,475	SH		SOLE	0	169,475	0	0
Commerce Bancshares, Inc	COM	200525103	5,945	102,906	SH		SOLE	0	102,906	0	0
Core-Mark Holding Co. Inc.	COM	218681104	2,946	91,661	SH		SOLE	0	91,661	0	0
Cosan Ltd.	CL A	G25343107	4,578	563,000	SH		SOLE	0	563,000	0	0
Covanta Holding Corporation	COM	22282E102	7,626	513,533	SH		SOLE	0	513,533	0	0
CSG Systems International, Inc.	COM	126349109	2,695	67,198	SH		SOLE	0	67,198	0	0
CSW Industrials Inc.	COM	126402106	6,668	150,348	SH		SOLE	0	150,348	0	0
Cubic, Corp.	COM	229669106	6,743	132,204	SH		SOLE	0	132,204	0	0
Cullen Frost Bankers, Inc.	COM	229899109	5,772	60,800	SH		SOLE	0	60,800	0	0
DEUTSCHE BANK AG-REGISTERED	COM	D18190898	8,640	500,000	SH		SOLE	0	500,000	0	0
Devon Energy Corp.	COM	25179M103	22,689	618,038	SH		SOLE	0	618,038	0	0
Dorman Products, Inc.	COM	258278100	3,123	43,600	SH		SOLE	0	43,600	0	0
DST Systems	COM	233326107	3,452	62,900	SH		SOLE	0	62,900	0	0
EMCOR Group, Inc.	COM	29084Q100	5,697	82,107	SH		SOLE	0	82,107	0	0
EOG Resources	COM	26875P101	24,075	248,856	SH		SOLE	0	248,856	0	0
Finisar Corp.	COM	31787A507	4,466	201,400	SH		SOLE	0	201,400	0	0
First Industrial Realty Trust, Inc.	COM	32054K103	53,884	1,790,743	SH		SOLE	0	1,790,743	0	0
Five Point Holdings LLC - CL A	COM	33833Q106	33,646	2,466,661	SH		SOLE	0	2,466,661	0	0
FNF Group	COM	31620R303	31,538	664,500	SH		SOLE	0	664,500	0	0
Forest City Enterprises Inc. CL A	CL A	345605109	123,982	4,860,122	SH		SOLE	0	4,860,122	0	0
FTI Consulting Inc.	COM	302941109	4,836	136,292	SH		SOLE	0	136,292	0	0
Genpact Ltd.	COM	G3922B107	4,660	162,066	SH		SOLE	0	162,066	0	0
Haynes International Inc.	COM	420877201	4,685	130,443	SH		SOLE	0	130,443	0	0
Horizon Global Corp.	COM	44052W104	4,730	268,100	SH		SOLE	0	268,100	0	0
ICF International, Inc.	COM	44925C103	7,814	144,822	SH		SOLE	0	144,822	0	0
Insight Enterprises, Inc.	COM	45765U103	6,783	147,700	SH		SOLE	0	147,700	0	0
Interface Inc.	COM	458665304	5,299	241,920	SH		SOLE	0	241,920	0	0
JBG Smith Properties	REIT	46590V100	10,926	319,357	SH		SOLE	0	319,357	0	0
Johnson Controls International plc	COM	G51502105	47,935	1,189,748	SH		SOLE	0	1,189,748	0	0
Kaiser Aluminum Corp.	COM PAR $0.01	483007704	6,465	62,678	SH		SOLE	0	62,678	0	0
Kennedy-Wilson Holdings Inc.	COM	489398107	21,881	1,179,553	SH		SOLE	0	1,179,553	0	0
Keycorp	COM	493267108	16,032	851,818	SH		SOLE	0	851,818	0	0
Kimco Realty Corp	COM	49446R109	21,120	1,080,300	SH		SOLE	0	1,080,300	0	0
Korn/Ferry International	COM	500643200	4,949	125,500	SH		SOLE	0	125,500	0	0
Legg Mason Inc.	COM	524901105	2,333	59,332	SH		SOLE	0	59,332	0	0
Lennar Corp - Class B	CL B	526057302	2,120	47,006	SH		SOLE	0	47,006	0	0
Lennar Corp.	COM	526057104	151,499	2,869,290	SH		SOLE	0	2,869,290	0	0
Leucadia National Corporation	COM	527288104	2,531	100,233	SH		SOLE	0	100,233	0	0
Livanova PLC	COM	G5509L101	15,373	219,422	SH		SOLE	0	219,422	0	0
Lowe's Companies Inc.	COM	548661107	38,021	475,611	SH		SOLE	0	475,611	0	0
Masco Corp.	COM	574599106	21,692	556,045	SH		SOLE	0	556,045	0	0
Multi-Color Corporation	COM	625383104	4,939	60,262	SH		SOLE	0	60,262	0	0
MYR Group Inc.	COM	55405W104	3,800	130,400	SH		SOLE	0	130,400	0	0
Netscout Systems Inc.	COM	64115T104	8,014	247,700	SH		SOLE	0	247,700	0	0
NEXPOINT RESIDNL TR	COM	65341D102	594	25,000	SH		SOLE	0	25,000	0	0
Parkway Inc.	REIT	70156Q107	24,200	1,050,762	SH		SOLE	0	1,050,762	0	0
Patterson Companies Inc	COM	703395103	5,068	131,100	SH		SOLE	0	131,100	0	0
PDC Energy, Inc.	COM	69327R101	3,874	79,000	SH		SOLE	0	79,000	0	0
Photronics Inc.	COM	719405102	4,141	467,900	SH		SOLE	0	467,900	0	0
PNC Financial Corp	COM	693475105	65,446	485,612	SH		SOLE	0	485,612	0	0
PNC Financial Services Group 2018 Warrants	W EXP 12/31/2018	693475121	79,947	1,186,849	SH		SOLE	0	1,186,849	0	0
Progress Software Corporation	COM	743312100	3,342	87,555	SH		SOLE	0	87,555	0	0
Prosperity Bancshares Inc.	COM	743606105	6,116	93,046	SH		SOLE	0	93,046	0	0
Quanex Building Products	COM	747619104	4,928	214,700	SH		SOLE	0	214,700	0	0
Ralph Lauren Corp.	CL A	751212101	844	9,556	SH		SOLE	0	9,556	0	0
Rayonier Inc.	COM	754907103	97,142	3,362,470	SH		SOLE	0	3,362,470	0	0
Reliance Steel & Aluminum Co.	COM	759509102	27,418	359,950	SH		SOLE	0	359,950	0	0
Seaboard Corp.	COM	811543107	4,222	937	SH		SOLE	0	937	0	0
Shire Plc - ADR	ADR	82481R106	229	1,491	SH		SOLE	0	1,491	0	0
Southside Bancshares Inc.	COM	84470P109	7,214	198,385	SH		SOLE	0	198,385	0	0
SP Plus Corp.	COM	78469C103	6,578	166,523	SH		SOLE	0	166,523	0	0
Standard Motor Products, Inc.	COM	853666105	2,266	46,947	SH		SOLE	0	46,947	0	0
Synaptics Inc.	COM	87157D109	3,793	96,807	SH		SOLE	0	96,807	0	0
Syntel, Inc.	COM	87162H103	9,603	488,697	SH		SOLE	0	488,697	0	0
Tejon Ranch Co.	COM	879080109	46,666	2,211,653	SH		SOLE	0	2,211,653	0	0
Tetra Tech, Inc.	COM	88162G103	6,119	131,444	SH		SOLE	0	131,444	0	0
The Macerich Company	COM	554382101	46,599	847,701	SH		SOLE	0	847,701	0	0
Tidewater Inc.	COM	88642R109	18,448	634,354	SH		SOLE	0	634,354	0	0
Total Fina ELF S A ADR	ADR	89151E109	53	984	SH		SOLE	0	984	0	0
Tri Pointe Group Inc.	COM	87265H109	5,675	410,900	SH		SOLE	0	410,900	0	0
Trinet Group Services	COM	896288107	4,058	120,700	SH		SOLE	0	120,700	0	0
Trinity Place Holdings	COM	89656D101	34,353	4,893,514	SH		SOLE	0	4,893,514	0	0
UMB Financial Corporation	COM	902788108	6,063	81,391	SH		SOLE	0	81,391	0	0
UniFirst Corporation	COM	904708104	4,532	29,910	SH		SOLE	0	29,910	0	0
Valley National Bancorp	COM	919794107	2,286	189,675	SH		SOLE	0	189,675	0	0
Valmont Industries	COM	920253101	285	1,799	SH		SOLE	0	1,799	0	0
Viad Corp.	COM	92552R406	6,592	108,235	SH		SOLE	0	108,235	0	0
Visteon Corp.	COM	92839U206	6,035	48,753	SH		SOLE	0	48,753	0	0
Vodafone Group Plc - ADR	ADR	92857W308	36	1,259	SH		SOLE	0	1,259	0	0
Vornado Realty Trust	SH BEN INT	929042109	53,049	690,014	SH		SOLE	0	690,014	0	0
Wesbanco Inc.	COM	950810101	4,566	111,300	SH		SOLE	0	111,300	0	0
Weyerhaeuser Company	COM	962166104	191,785	5,635,761	SH		SOLE	0	5,635,761	0	0
White Mountains Insurance Group	COM	G9618E107	27,940	32,601	SH		SOLE	0	32,601	0	0
World Fuel Services Corp	COM	981475106	5,949	175,419	SH		SOLE	0	175,419	0	0
Zions Bancorporation	COM	989701107	26,363	558,758	SH		SOLE	0	558,758	0	0