13F-HR/A 1 tam122004.txt FORM 13F UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 13F-HR Form 13F-HR COVER PAGE Report for the Calendar Year or Quarter Ended: December 31, 2004 Check here if Amendment: |x|; Amendment Number:1 This Amendment (Check only one): |x| is a restatement. |_| adds new holdings entries. Institutional Investment Manager Filing this Report: Name: Third Avenue Management LLC Address: 622 Third Avenue, 32nd Floor New York, NY 10017 Form 13F File Number: 028-5110 The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form. Person Signing this Report on Behalf of Reporting Manager: Name: Willard James Hall Title: General Counsel Phone: 212-888-2290 Signature, Place, and Date of Signing: Willard James Hall New York, New York February 15, 2005 Report Type (Check one only): [x] 13F HOLDINGS REPORT. (Check here if all holdings of this reporting manager are reported in this report.) [ ] 13F NOTICE. (Check here if no holdings reported are in this report, and all holdings are reported by other reporting manager(s).) [ ] 13F COMBINATION REPORT. (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).) Form 13F SUMMARY PAGE Report Summary: Number of Other Included Managers: 0 Form 13F Information Table Entry Total: 178 Form 13F Information Table Value Total: $7,406,608 (thousands) List of Other Included Managers: Provide a numbered list of the name(s) and Form 13F file nember(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report. [If there are no entries in this list, state "NONE" and omit the column headings and list entries.] NONE FORM 13F INFORMATION TABLE

COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8 ------------------- -------- -------- -------- -------------------------- ------ ------------------- INVESTMENT VOTING AUTHORITY DISCRETION (SHARES) SHARED MARKET SOLESHAREDOTHER SOLE SHARED NONE SECURITY DESCRIPTION CLASS CUSIP SHARES VALUE (A) (B) (C) MGR (A) (B) (C) 3 Com Corp COM 885535104 100000 417 X 100000 0 0 Acadia Realty Trust COM 004239109 1023250 16678.975 X 1020650 0 2600 Ace Limited ORD G0070K103 87035 3720.74625 X 87035 0 0 Acmat Corp.- Class A CL A 004616207 200678 2588.7462 X 200678 0 0 Advanced Power Technology COM 00761E108 532700 4123.098 X 532700 0 0 Affordable Residential Communities REIT 008273104 982700 14101.745 X 982700 0 0 Agrium, Inc. COM 008916108 376027563360.63375 X 3686575 0 73700 Alamo Group, Inc. COM 011311107 321454387306.98788 X 5041156 0 -1826613 Alexander & Baldwin, Inc. COM 014482103 1956440 82992.1848 X 1956440 0 0 Alico, Inc. COM 016230104 353300 20675.116 X 353300 0 0 Ambac Financial Group COM 023139108 300090 24646.3917 X 300000 0 90 American Financial Realty Trust SBI 02607P305 2327650 37661.377 X 2326600 0 1050 American Land Lease Inc. COM 027118108 45940810355.05632 X 455608 0 3800 American Power Conversion Corp COM 029066107 5023179107496.0306 X 4939080 0 84099 AMN Healthcare Services Inc. COM 001744101 72884411595.90804 X 728844 0 0 Analogic Corporation COM 032657207 116900 5235.951 X 112700 0 4200 Anthracite Capital Inc. COM 037023108 439425 5431.293 X 439425 0 0 Applied Materials, Inc. COM 038222105 1888735 32297.3685 X 1838566 0 50169 Arch Capital Group Ltd. COM G0450A105 2025178 78374.3886 X 1978978 0 46200 Ascential Software Corp COM 04362P108 125143920410.97009 X 1251439 0 0 Associated Estates Realty Corporation COM 045604105 315725 3226.7095 X 315725 0 0 Astoria Financial Corp. COM 046265104 106000 4236.82 X 106000 0 0 Avatar Holdings Inc. COM 053494100 744915 35830.4115 X 742115 0 2800 AVX Corp. COM 002444107 13060228164558.8728 X 13504248 0 -444020 Banco Latinoamericano Exportaciones, S.A. COM P16994132 285000 5682.9 X 285000 0 0 Bandag, Incorporated COM 059815100 334800 16676.388 X 334800 0 0 BankAtlantic Bankcorp, Inc. CL A 065908501 835000 16616.5 X 835000 0 0 Banknorth Group Inc. COM 06646R107 69566 2546.1156 X 69566 0 0 BelFuse Inc. CL B CL B 077347300 79120226734.71558 X 784802 0 6400 BelFuse Inc. CL. A CL A 077347201 290438 8509.8334 X 290438 0 0 Blockbuster Inc. 093679108 30000 286.2 X 30000 0 0 BPP Liquidating Trust COM 12232C108 959000 110.285 X 959000 0 0 Brascan Corporation CL A 10549P606 10050044361902.0844 X 9921190 0 128854 British Land Company PLC ORD 0136701 251655243290.48247 X 2516552 0 0 Brookfield Homes Corp COM 112723101 314780 10671.042 X 313660 0 1120 Brookfield Properties COM 112900105 1721450 64382.23 X 1717650 0 3800 Brookline Bancorp, Inc. COM 11373M107 410924767062.91104 X 3948597 0 160650 Canadian Natural Resources COM 136385101 407200 17415.944 X 407200 0 0 Canfor Corporation COM 2173416 122195015960.86651 X 1221950 0 0 Capital Lease Funding Inc. COM 140288101 398900 4986.25 X 398900 0 0 Capital Southwest COM 140501107 29955423520.98008 X 294409 0 5145 Carver Bancorp, Inc. COM 146875109 218500 4370 X 218500 0 0 Catellus Development Corp. COM 149113102 6984482213725.1492 X 8975456.8 0 -1990974. Cavco Industries, Inc. COM 149568107 156360 7028.382 X 156360 0 0 CEMENTO ARGOS SA COM 2184173 2375912159.298285 X 237591 0 0 CIE Generale De Geophysique ORD 4215394 21587914891.74359 X 193479 0 22400 CIT Group Inc. COM 125581108 1067370 48906.8934 X 3106134 0 -2038764 Coachman Industries, Inc. COM 189873102 271000 4704.56 X 271000 0 0 Coherent Inc. COM 192479103 93683728517.31828 X 936837 0 0 Commercial Federal Corp. COM 201647104 61543 1828.44253 X 61543 0 0 Commscope, Inc. COM 203372107 2068450 39093.705 X 2068450 0 0 Compagnie Generale de Geophysique -SP ADR ADR 204386106 235600 3232.432 X 235600 0 0 Comverse Technology, Inc. COM 205862402 4118883100706.6894 X 4035208 0 83675 CONCORD CAMERA CORP COM 206156101 200000 458 X 200000 0 0 Consolidated Tomoka Land Company COM 210226106 665430 28613.49 X 662955 0 2475 Credence Systems COM 225302108 667086761038.43305 X 6347067 0 323800 Cresud S.A. ADR ADR 226406106 281836 4199.3564 X 281836 0 0 Cresud SA Comericial Ind WTS WTS P3311R150 200000 346 X 200000 0 0 Criimi Mae Inc. COM 226603504 944969 15214.0009 X 944969 0 0 Cross Country Healthcare Inc. COM 227483104 311105756247.91056 X 3049207 0 61850 CRT Properties Inc COM 22876P109 256206161130.77546 X 2553861 0 8200 Danielson Holding Corp. COM 236274106 4535622 38326.0059 X 4535622 0 0 Datascope Corp. COM 238113104 39831115808.96359 X 388849 0 9462 Del Monte Pacific Ltd. ORD 6168485 15891000 6667.8636 X 15891000 0 0 Deltic Timber COM 247850100 405050 17194.3725 X 405050 0 0 Dress Barn, Inc. COM 261570105 1031985 18162.936 X 1031985 0 0 Electro Scientific Industries, Inc. COM 285229100 352825669718.33856 X 3422344 0 105912 Electronics for Imaging COM 286082102 102177117789.03311 X 977171 0 44600 Encana Corp. COM 292505104 1679300 95820.858 X 4293256 0 -2613956 ESG Re Limited COM G31215109 118449 8.29143 X 118449 0 0 Fairmont Hotels & Resorts Inc COM 305204109 716100 24805.704 X 716100 0 0 Falcon Financial Investment Trust COM 306032103 1531500 10720.5 X 1528450 0 3050 FBL Financial Group, Inc. CL A 30239F106 472500 13489.875 X 472500 0 0 First Potomac Realty Trust SBI 33610F109 568300 12957.24 X 567400 0 900 Florida East Coast Industries, Inc. COM 340632108 55032 2481.9432 X 55032 0 0 Fording Canadian Coal Trust UNIT 345425102 709000 54699.35 X 709000 0 0 Forest City Enterprise Cl A CL A 345550107 7023556404205.6478 X 10331786.5 0 -3308230. Forest City Enterprise Cl B CL B 345550305 16525 955.145 X 16525 0 0 FSI International, Inc. COM 302633102 284713 1329.60971 X 271163 0 13550 GEAC Computer Corp LTD COM 2362690 444631732656.86447 X 4149517 0 296800 Golar LNG LTD COM 7139695 349600 5093.95168 X 349600 0 0 Haynes International Inc. COM 420877201 445714 6685.71 X 445714 0 0 Herley Industries, Inc. COM 427398102 451858 9190.79172 X 451858 0 0 Hollywood Entertainment Corporation COM 436141105 103864613595.87614 X 1038646 0 0 Hutchinson Technology Inc. COM 448407106 69758524115.51345 X 697585 0 0 Industrias Bachoco, S.A. DE C.V. ADR 456463108 598300 8489.877 X 598300 0 0 Ingram Micro Inc. COM 457153104 203700 4236.96 X 203700 0 0 Instinet Group Inc. COM 457750107 1257267375813.21819 X 11853892 0 718781 Investment Technology Group. COM 46145F105 132800 2656 X 132800 0 0 IXYS Corp COM 46600W106 530204 5471.70528 X 530204 0 0 Jakks Pacific, Inc. COM 47012E106 368532181482.44731 X 3587152 0 98169 Jefferies Group COM 472319102 451030 18167.4884 X 451030 0 0 Jones Lang Lasalle COM 48020Q107 716850 26817.3585 X 716850 0 0 Kemet Corporation COM 488360108 152485313647.43435 X 1459068 0 65785 Kinross Gold Corp COM 496902206 32333 227.62432 X 32333 0 0 Kmart Holding Corp.-NEW COM 498780105 3974897393316.0582 X 3974897 0 0 K-Swiss Incl Cl A CL A 482686102 93365827188.12096 X 933658 0 0 LEAPFROG ENTERPRISES INC 52186N106 540350 7348.76 X 509675 0 30675 Legg Mason Inc. COM 524901105 2563372187792.6327 X 2505666 0 57706 Leucadia National Corp. COM 527288104 498075 34606.251 X 496575 0 1500 Levitt Corporation CL A 52742P108 208750 6381.4875 X 208750 0 0 Lindsay Manufacturing Co. COM 535555106 954700 24707.636 X 954700 0 0 LNR Property Corporation COM 501940100 3250450204485.8095 X 3229650 0 20800 MBIA Inc. COM 55262C100 2181843 138067.025 X 2161832 0 20011 Mestek Inc. COM 590829107 360100 6516.0095 X 360100 0 0 Millea Holdings, Inc. ADR ADR 60032R106 3382724252381.6549 X 3321404 0 61320 Montpelier Re Holdings Ltd. COM G62185106 737500 28356.875 X 737500 0 0 Nabors Industries COM G6359F103 166063785174.07173 X 1624858 0 35779 NATIONAL WESTERN LIFE INS-CL A 638522102 27422 4568.77942 X 27422 0 0 NewAlliance Bancshares, Inc. COM 650203102 3624983 55462.2399 X 3485433 0 139550 Noranda Inc. COM 655422103 310800 5470.08 X 310800 0 0 Nortel Inversora-ADR PFD B ADR 656567401 113500 795.635 X 113500 0 0 Nuveen Investments, Inc., CL A CL A 67090F106 489900 19336.353 X 489900 0 0 On Assignment, Inc. COM 682159108 1197560 6215.3364 X 1197560 0 0 One Liberty Properties COM 682406103 982375 20354.81 X 981775 0 600 ORIGEN FINANCIAL INC 68619E208 840122 6284.11256 X 840122 0 0 Pan American Silver Corp COM 697900108 13000 207.74 X 13000 0 0 Parexel International Corp COM 699462107 3861730 78393.119 X 3736240 0 125490 Park Electrochemical Corp. COM 700416209 805450 17462.156 X 805450 0 0 Pharmaceutical Product Development Inc. COM 717124101 93726338699.58927 X 937263 0 0 Planar Systems Inc. COM 726900103 247200 2776.056 X 247200 0 0 Pogo Producing Co COM 730448107 1095450 53118.3705 X 1095450 0 0 Precision Drilling Corp COM 74022D100 243700 15304.36 X 243700 0 0 Prime Group Realty Trust COM 74158J103 628900 4043.827 X 628900 0 0 Prologis Trust SBI 743410102 184714880036.92284 X 1844628 0 2520 PS Business Parks, Inc. COM 69360J107 1471575 66368.0325 X 1471275 0 300 Quanta Services, Inc. COM 74762E102 9643500 77148 X 9641500 0 2000 Radian Group Inc. COM 750236101 2422205128958.1942 X 2379343 0 42862 Rait Investment Trust SBI 749227104 258300 7224.651 X 258300 0 0 Raymond James Financial COM 754730109 163464650641.33308 X 1634646 0 0 RTI International Metals, Inc. COM 74973W107 378600 7776.444 X 378600 0 0 Russ Berrie and Company, Inc. COM 782233100 1668170 38101.0028 X 1616670 0 51500 Safety Insurance Group, Inc. COM 78648T100 175000 5451.25 X 175000 0 0 Scientific-Atlanta, Inc. COM 808655104 213600 7050.936 X 213600 0 0 Sizeler Property Investors Inc COM 830137105 314899 3709.51022 X 314899 0 0 Skyline Corporation COM 830830105 287800 11742.24 X 287800 0 0 Smedvig ASA-A CL A 4564665 328615055206.33416 X 3197600 0 88550 Smedvig ASA-Sponsored ADR CL A ADR 83169H105 242325 4015.32525 X 242325 0 0 St. Jude Medical Inc. COM 790849103 365150 15310.7395 X 365150 0 0 St. Mary Land & Exploration COM 792228108 794100 33145.734 X 794100 0 0 Standex International Corp COM 854231107 480500 13689.445 X 480500 0 0 Stewart Information Services COM 860372101 479800 19983.67 X 479800 0 0 Stolt Offshore S.A. ADR ADR 861567105 340800 2208.384 X 340800 0 0 Suncor Energy Inc. COM 867229106 787300 27870.42 X 787300 0 0 Superior Industries International, Inc. COM 868168105 2778712 80721.5836 X 2684412 0 94300 SWS Group Inc. COM 78503N107 188556 4133.14752 X 188556 0 0 Sybase Inc. COM 871130100 509700 10168.515 X 509700 0 0 Sycamore Networks, Inc. COM 871206108 1220807149564.76826 X 11577571 0 630500 Synopsys Inc. COM 871607107 79983815692.82156 X 799838 0 0 Tejon Ranch Co. COM 879080109 4399578179502.7824 X 4395575 0 4003 Telecom Corp of New Zealand Ltd ADR ADR 879278208 29050 1030.113 X 29050 0 0 Telecom Corp of New Zealand ORD COM 6881436 446248019822.78241 X 4147384 0 315096 Tellabs, Inc. COM 879664100 9091534.40878096.28056 X 8741384.408 0 350150 TENON LTD SHS 6342278 16980792698.247531 X 886605 0 811474 The Buckle, Inc. COM 118440106 131500 3879.25 X 131500 0 0 The First American Corporation COM 318522307 1048800 36854.832 X 1048800 0 0 The Keith Companies, Inc. COM 487539108 59758310391.96837 X 597583 0 0 The Phoenix Companies COM 71902E109 4657075 58213.4375 X 4643765 0 13310 The St. Joe Company COM 790148100 8484982544735.8444 X 11394752 0 -2909770 Thomas Properties Group INC COM 884453101 217210627672.63044 X 2165906 0 6200 Tidewater Inc. COM 886423102 520100 18520.761 X 520100 0 0 Tompkins Trustco Inc. COM 890110109 45210 2418.2829 X 45210 0 0 Trammell Crow Company COM 89288R106 6655682 120534.401 X 6650882 0 4800 Trenwick Group Ltd. COM G9032C109 295217 2.066519 X 295217 0 0 Trinity Industries COM 896522109 1473440 50214.8352 X 1458315 0 15125 Triquint Semiconductor, Inc. COM 89674K103 500600 2227.67 X 500600 0 0 TXU Corp. COM 873168108 400000 25824 X 400000 0 0 UNITE GROUP PLC 0692861 3522000 20488.5306 X 3522000 0 0 United Group plc COM 0692861 3522000 20488.5306 X 3522000 0 0 Valuevision International COM 92047K107 120000 1669.2 X 120000 0 0 Vishay Intertecnology, Inc. COM 928298108 528497 7938.02494 X 523997 0 4500 Vornado Realty Trust SBI 929042109 1191950 90743.1535 X 1190625 0 1325 Wellsford Real Properties, Inc. COM 950240200 1588450 22905.449 X 1584600 0 3850 Westwood Holdings Group Inc. COM 961765104 892821 17588.5737 X 892821 0 0 White Mountains Insurance Group COM G9618E107 61650 39825.9 X 61650 0 0 Whiting Petroleum Corporation COM 966387102 1837075.1355571.52268 X 1824450.13 0 12625 Willbros Group, Inc. COM 969199108 165287538098.76875 X 1652875 0 0 Woronoco Bancorp, Inc. COM 981630106 390800 14334.544 X 390800 0 0