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	3,390	89,857	SH		SOLE	0	89,857	0	0
Alamo Group, Inc.	COM	011311107	5,272	46,706	SH		SOLE	0	46,706	0	0
Alico, Inc.	COM	016230104	4,144	140,451	SH		SOLE	0	140,451	0	0
Alleghany Corp.	COM	017175100	41,260	69,217	SH		SOLE	0	69,217	0	0
Amerco	COM	023586100	20,894	55,286	SH		SOLE	0	55,286	0	0
Amgen Inc.	COM	031162100	37,690	216,733	SH		SOLE	0	216,733	0	0
AMN Healthcare Services Inc.	COM	001744101	5,842	118,617	SH		SOLE	0	118,617	0	0
Anixter International Inc.	COM	035290105	4,443	58,456	SH		SOLE	0	58,456	0	0
Arcos Dorados Holdings, Inc.	SHS CL A	G0457F107	10,052	971,150	SH		SOLE	0	971,150	0	0
Aspen Insurance Holdings Ltd	SHS	G05384105	6,444	158,707	SH		SOLE	0	158,707	0	0
Bank of New York Mellon Corp.	COM	064058100	58,623	1,088,424	SH		SOLE	0	1,088,424	0	0
BMC Stock Holdings, Inc.	Equity	05591B109	6,852	270,800	SH		SOLE	0	270,800	0	0
Brookfield Asset Mgmt. CL A	CL A LTD VT SH	112585104	187,357	4,303,079	SH		SOLE	0	4,303,079	0	0
Capital Southwest	COM	140501107	2,489	150,348	SH		SOLE	0	150,348	0	0
Carrizo Oil & Gas Inc.	COM	144577103	3,785	177,853	SH		SOLE	0	177,853	0	0
Catchmark Timber Trust Inc.	REIT	14912Y202	1,051	80,000	SH		SOLE	0	80,000	0	0
Cavco Industries, Inc. (COM & Restricted)	COM	149568107	41,386	271,200	SH		SOLE	0	271,200	0	0
CEDAR REALTY TRUST INC	COM	150602209	1,069	175,700	SH		SOLE	0	175,700	0	0
Century Communities Inc.	COM	156504300	2,229	71,671	SH		SOLE	0	71,671	0	0
CNH Industrial NV	COM	N20944109	3,553	265,100	SH		SOLE	0	265,100	0	0
Comerica Inc 2018 Warrants	W EXP 11/14/2018	200340115	1,942	33,300	SH		SOLE	0	33,300	0	0
Comerica Inc.	COM	200340107	47,429	546,343	SH		SOLE	0	546,343	0	0
Comfort Systems USA Inc.	COM	199908104	5,880	134,697	SH		SOLE	0	134,697	0	0
Commerce Bancshares, Inc	COM	200525103	6,034	108,051	SH		SOLE	0	108,051	0	0
Cosan Ltd.	CL A	G25343107	5,462	563,000	SH		SOLE	0	563,000	0	0
CSG Systems International, Inc.	COM	126349109	2,945	67,198	SH		SOLE	0	67,198	0	0
CSW Industrials Inc.	COM	126402106	6,909	150,348	SH		SOLE	0	150,348	0	0
Cubic, Corp.	COM	229669106	7,794	132,204	SH		SOLE	0	132,204	0	0
Cullen Frost Bankers, Inc.	COM	229899109	5,755	60,800	SH		SOLE	0	60,800	0	0
DEUTSCHE BANK AG-REGISTERED	COM	D18190898	11,418	600,000	SH		SOLE	0	600,000	0	0
Dorman Products, Inc.	COM	258278100	2,666	43,600	SH		SOLE	0	43,600	0	0
DST Systems	COM	233326107	3,905	62,900	SH		SOLE	0	62,900	0	0
EMCOR Group, Inc.	COM	29084Q100	6,713	82,107	SH		SOLE	0	82,107	0	0
EOG Resources	COM	26875P101	26,853	248,842	SH		SOLE	0	248,842	0	0
Finisar Corp.	COM	31787A507	4,099	201,400	SH		SOLE	0	201,400	0	0
First Industrial Realty Trust, Inc.	COM	32054K103	53,258	1,692,334	SH		SOLE	0	1,692,334	0	0
Five Point Holdings LLC - CL A	COM	33833Q106	36,457	2,585,539	SH		SOLE	0	2,585,539	0	0
FNF Group	COM	31620R303	21,169	539,470	SH		SOLE	0	539,470	0	0
Forest City Enterprises Inc. CL A	CL A	345605109	137,090	5,688,381	SH		SOLE	0	5,688,381	0	0
FTI Consulting Inc.	COM	302941109	6,818	158,683	SH		SOLE	0	158,683	0	0
Genpact Ltd.	COM	G3922B107	5,144	162,066	SH		SOLE	0	162,066	0	0
Haynes International Inc.	COM	420877201	158	4,900	SH		SOLE	0	4,900	0	0
ICF International, Inc.	COM	44925C103	7,604	144,822	SH		SOLE	0	144,822	0	0
Insight Enterprises, Inc.	COM	45765U103	5,656	147,700	SH		SOLE	0	147,700	0	0
Interface Inc.	COM	458665304	6,085	241,920	SH		SOLE	0	241,920	0	0
JBG Smith Properties	REIT	46590V100	11,115	319,357	SH		SOLE	0	319,357	0	0
Johnson Controls International plc	COM	G51502105	46,812	1,228,339	SH		SOLE	0	1,228,339	0	0
Kaiser Aluminum Corp.	COM PAR $0.01	483007704	6,698	62,678	SH		SOLE	0	62,678	0	0
Kennedy-Wilson Holdings Inc.	COM	489398107	2,165	124,753	SH		SOLE	0	124,753	0	0
Keycorp	COM	493267108	17,179	851,702	SH		SOLE	0	851,702	0	0
Kimco Realty Corp	COM	49446R109	19,608	1,080,300	SH		SOLE	0	1,080,300	0	0
Korn/Ferry International	COM	500643200	5,194	125,500	SH		SOLE	0	125,500	0	0
Legg Mason Inc.	COM	524901105	7,868	187,411	SH		SOLE	0	187,411	0	0
Lennar Corp - Class B	CL B	526057302	7,275	140,763	SH		SOLE	0	140,763	0	0
Lennar Corp.	COM	526057104	166,034	2,625,452	SH		SOLE	0	2,625,452	0	0
Leucadia National Corporation	COM	527288104	2,656	100,233	SH		SOLE	0	100,233	0	0
Lowe's Companies Inc.	COM	548661107	44,074	474,216	SH		SOLE	0	474,216	0	0
Masco Corp.	COM	574599106	24,524	558,114	SH		SOLE	0	558,114	0	0
MYR Group Inc.	COM	55405W104	8,820	246,824	SH		SOLE	0	246,824	0	0
Netscout Systems Inc.	COM	64115T104	5,854	192,244	SH		SOLE	0	192,244	0	0
NEXPOINT RESIDNL TR	COM	65341D102	484	17,300	SH		SOLE	0	17,300	0	0
PDC Energy, Inc.	COM	69327R101	4,072	79,000	SH		SOLE	0	79,000	0	0
PNC Financial Corp	COM	693475105	46,401	321,580	SH		SOLE	0	321,580	0	0
PNC Financial Services Group 2018 Warrants	W EXP 12/31/2018	693475121	69,657	896,250	SH		SOLE	0	896,250	0	0
Progress Software Corporation	COM	743312100	3,728	87,555	SH		SOLE	0	87,555	0	0
Prosperity Bancshares Inc.	COM	743606105	7,279	103,872	SH		SOLE	0	103,872	0	0
Rayonier Inc.	COM	754907103	96,422	3,048,426	SH		SOLE	0	3,048,426	0	0
Reliance Steel & Aluminum Co.	COM	759509102	30,879	359,937	SH		SOLE	0	359,937	0	0
Seaboard Corp.	COM	811543107	4,133	937	SH		SOLE	0	937	0	0
Southside Bancshares Inc.	COM	84470P109	6,682	198,385	SH		SOLE	0	198,385	0	0
SP Plus Corp.	COM	78469C103	6,179	166,523	SH		SOLE	0	166,523	0	0
Standard Motor Products, Inc.	COM	853666105	2,109	46,947	SH		SOLE	0	46,947	0	0
Synaptics Inc.	COM	87157D109	3,867	96,807	SH		SOLE	0	96,807	0	0
Syntel, Inc.	COM	87162H103	5,265	229,006	SH		SOLE	0	229,006	0	0
Tejon Ranch Co.	COM	879080109	55,097	2,653,982	SH		SOLE	0	2,653,982	0	0
Tetra Tech, Inc.	COM	88162G103	6,330	131,444	SH		SOLE	0	131,444	0	0
The Macerich Company	COM	554382101	55,817	849,829	SH		SOLE	0	849,829	0	0
Tidewater Inc.	COM	88642R109	40,888	1,675,730	SH		SOLE	0	1,675,730	0	0
Total Fina ELF S A ADR	ADR	89151E109	55	984	SH		SOLE	0	984	0	0
Tri Pointe Group Inc.	COM	87265H109	7,364	410,900	SH		SOLE	0	410,900	0	0
Trinity Place Holdings	COM	89656D101	34,010	4,893,514	SH		SOLE	0	4,893,514	0	0
UMB Financial Corporation	COM	902788108	5,854	81,391	SH		SOLE	0	81,391	0	0
UniFirst Corporation	COM	904708104	4,933	29,910	SH		SOLE	0	29,910	0	0
Valley National Bancorp	COM	919794107	2,129	189,675	SH		SOLE	0	189,675	0	0
Viad Corp.	COM	92552R406	5,997	108,235	SH		SOLE	0	108,235	0	0
Visteon Corp.	COM	92839U206	6,898	55,119	SH		SOLE	0	55,119	0	0
Vornado Realty Trust	SH BEN INT	929042109	54,095	691,927	SH		SOLE	0	691,927	0	0
Warrior Met Coal Inc.	com	93627C101	17,263	686,383	SH		SOLE	0	686,383	0	0
Wesbanco Inc.	COM	950810101	4,525	111,300	SH		SOLE	0	111,300	0	0
Weyerhaeuser Company	COM	962166104	187,727	5,324,065	SH		SOLE	0	5,324,065	0	0
White Mountains Insurance Group	COM	G9618E107	28,815	33,848	SH		SOLE	0	33,848	0	0
Zions Bancorporation	COM	989701107	28,446	559,625	SH		SOLE	0	559,625	0	0