13F-HR/A 1 tam033110.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: March 31, 2010 Check here if Amendment: | |; Amendment Number: 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 May 14, 2010 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: 1 Form 13F Information Table Entry Total: 115 Form 13F Information Table Value Total: $5,421,996 (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.] No. Form 13F File Number Name 1 028-10561 AIC Investment Services Inc. FORM 13F INFORMATION TABLE

VALUE SHRS OR SH/PUT/INVSTMT OTHER VOTING AUTHORITY NAME OF ISSUER TITLE OF CLASS CUSIP (X$1000) PRN AMT PRNCALLDSCRETN MNGRS SOLE SHARED NONE Acadia Realty Trust COM SH BEN INT 004239109 625 34999SH SOLE 34999 0 0 Agrium, Inc. COM 008916108 4244 60083SH SOLE 60083 0 0 Alamo Group, Inc. COM 011311107 22888 1144949SH SOLE 1144949 0 0 Alexander & Baldwin, Inc. COM 014482103 89356 2703661SH SOLE 2703136 0 525 Alico, Inc. COM 016230104 6809 269664SH SOLE 269664 0 0 Alto Palermo S.A. ADR 02151P107 887 99144SH SOLE 99144 0 0 Applied Materials, Inc. COM 038222105 32373 2401524SH SOLE 2252599 0148925 Arch Capital Group Ltd. ORD G0450A105 22417 293996SH SOLE 293996 0 0 Aspen Insurance Holdings Ltd SHS G05384105 9027 312991SH SOLE 312991 0 0 AVX Corporation Total COM 002444107 28509 2007646SH OTHER 1 2007646 0 0 AVX Corporation Total COM 002444107 99917 7036383SH SOLE 6498797 0537586 Bank of New York Mellon Corp. TotalCOM 064058100 35422 1147079SH OTHER 1 1147079 0 0 Bank of New York Mellon Corp. TotalCOM 064058100 270817 8769981SH SOLE 8524893 0245088 Barclays Bank PLC ETN DJUBS AGRI37 06739H206 5189 132472SH SOLE 132472 0 0 Bel Fuse Inc. CL B 077347300 22402 1111764SH SOLE 1111764 0 0 Bristow Group Inc. COM 110394103 77223 2046735SH SOLE 1977585 0 69150 Bronco Drilling Co. Inc. COM 112211107 26468 5631587SH SOLE 5631587 0 0 Brookfield Asset Mgmt. CL A Total CL A LTD VT SH 112585104 1359 53468SH OTHER 1 53468 0 0 Brookfield Asset Mgmt. CL A Total CL A LTD VT SH 112585104 519320 20429577SH SOLE 20245358 0184219 Brookfield Infrastructure Partners LP INT UNIT G16252101 7437 422819SH SOLE 422819 0 0 Brookfield Properties Total COM 112900105 622 40500SH OTHER 1 40500 0 0 Brookfield Properties Total COM 112900105 1420 92450SH SOLE 66950 0 25500 Brooklyn Federal Bancorp Inc. COM 114039100 5352 637122SH SOLE 637122 0 0 Capital Southwest COM 140501107 10333 113694SH SOLE 113694 0 0 Carver Bancorp, Inc. COM 146875109 1912 218500SH SOLE 218500 0 0 Cavco Industries, Inc. COM 149568107 28377 831181SH SOLE 831181 0 0 Cenovus Energy Inc. Total COM 15135U109 14088 538750SH OTHER 1 538750 0 0 Cenovus Energy Inc. Total COM 15135U109 68642 2617676SH SOLE 2491009 0126667 Cimarex Energy Co. Total COM 171798101 10659 179506SH OTHER 1 179506 0 0 Cimarex Energy Co. Total COM 171798101 272933 4596385SH SOLE 4532610 0 63775 CIT Group Inc. COM 125581801 15519 398327SH SOLE 398327 0 0 Coherent Inc. COM 192479103 5571 174303SH SOLE 174303 0 0 Colonial Bankshares Inc. COM 195572102 486 50920SH SOLE 50920 0 0 ConocoPhillips COM 20825C104 4318 84380SH SOLE 84380 0 0 Consolidated Tomoka Land Co. Total COM 210226106 410 13000SH OTHER 1 13000 0 0 Consolidated Tomoka Land Co. Total COM 210226106 16098 510900SH SOLE 510900 0 0 Covanta Holding Corporation COM 22282E102 154293 9261289SH SOLE 9261289 0 0 Cross Country Healthcare Inc. COM 227483104 64564 6386166SH SOLE 6386166 0 0 Developers Diversified Realty Note 3.00% 3/15/12251591AS2 19326 20000000SH SOLE 20000000 0 0 Developers Diversified Realty Note 3.50% 8/15/11251591AQ6 9838 10000000SH SOLE 10000000 0 0 Dex One Corporation COM 25212W100 3058 109533SH SOLE 109533 0 0 Eastgroup Properties Inc. COM 277276101 472 12500SH SOLE 12500 0 0 Electro Scientific Industries, Inc.COM 285229100 45493 3551385SH SOLE 3551385 0 0 Electronics for Imaging Inc. COM 286082102 46478 3996379SH SOLE 3875429 0120950 Encana Corporation Total COM 292505104 17559 563750SH OTHER 1 563750 0 0 Encana Corporation Total COM 292505104 106202 3424666SH SOLE 3266615 0158051 Encore Wire Corporation COM 292562105 45822 2202985SH SOLE 2202985 0 0 Fedfirst Financial Corporation COM 31429X105 3406 490036SH SOLE 490036 0 0 First Potomac Realty Trust COM 33610F109 361 24000SH SOLE 24000 0 0 Forest City Enterprises Inc. CL A TCL A 345550107 1708 118540SH OTHER 1 118540 0 0 Forest City Enterprises Inc. CL A TCL A 345550107 387488 26890190SH SOLE 26792722 0 97468 Forest City Enterprises Inc. CL B CONV 345550305 371 25800SH SOLE 25800 0 0 Genesee & Wyoming Inc. CL A 371559105 3032 88867SH SOLE 88867 0 0 Glatfelter P. H. Co. COM 377316104 42397 2925933SH SOLE 2925933 0 0 Haverty Furniture Companies Inc. COM 419596101 37434 2293765SH SOLE 2293765 0 0 HCC Insurance Holdings COM 404132102 16771 607633SH SOLE 607633 0 0 Herley Industries, Inc. COM 427398102 19266 1314217SH SOLE 1314217 0 0 HKN Inc. COM 40420K103 143 47478SH SOLE 47478 0 0 Imation Corp. COM 45245A107 7804 708809SH SOLE 708809 0 0 Ingram Micro Inc. CL A 457153104 13064 744394SH SOLE 744394 0 0 Insteel Industries Inc. COM 45774W108 11425 1068787SH SOLE 1068787 0 0 Intel Corporation COM 458140100 12800 575000SH SOLE 575000 0 0 Investment Technology Group COM 46145F105 68028 4075968SH SOLE 3981168 0 94800 Jakks Pacific, Inc. COM 47012E106 21192 1623935SH SOLE 1623935 0 0 Journal Communications Inc. CL A 481130102 3054 727205SH SOLE 727205 0 0 Kaiser Aluminum Corp. COM 483007704 32340 838479SH SOLE 838479 0 0 Kearny Financial Corp. COM 487169104 6889 660494SH SOLE 660494 0 0 Keycorp Total COM 493267108 7720 996066SH OTHER 1 996066 0 0 Keycorp Total COM 493267108 94387 12178974SH SOLE 12053899 0125075 Kid Brands, Inc. COM 49375T100 1152 133170SH SOLE 133170 0 0 K-Swiss Inc., CL A CL A 482686102 46669 4461698SH SOLE 4461698 0 0 Leucadia National Corporation COM 527288104 94281 3800119SH SOLE 3550203 0249916 Lexmark International Inc. CL A 529771107 55079 1526590SH SOLE 1526590 0 0 Liberty Media-Starz Group LIB STAR COM A 53071M708 3659 66914SH SOLE 66914 0 0 MDC Holdings Inc. COM 552676108 55185 1594487SH SOLE 1582462 0 12025 Montpelier Re Holdings Ltd. SHS G62185106 62212 3700869SH SOLE 3627429 0 73440 Nabors Industries SHS G6359F103 238858 12168000SH SOLE 12168000 0 0 National Western Life Insurance Co.CL A 638522102 58069 314994SH SOLE 314994 0 0 NewAlliance Bancshares, Inc. COM 650203102 6474 512986SH SOLE 512986 0 0 Newmont Mining Corporation COM 651639106 39071 767154SH SOLE 703495 0 63659 Omega Flex Inc. COM 682095104 236 22470SH SOLE 22470 0 0 Park Electrochemical Corporation COM 700416209 42185 1467825SH SOLE 1467825 0 0 Pharmaceutical Product Dev. Inc. COM 717124101 77049 3244186SH SOLE 3168461 0 75725 Pioneer Drilling Co. COM 723655106 22305 3168277SH SOLE 3168277 0 0 Posco ADR Total ADR 693483109 35978 307477SH OTHER 1 307477 0 0 Posco ADR Total ADR 693483109 474628 4056302SH SOLE 4032632 0 23670 Prologis NOTE 1.88% NOTE 11/15/37 743410AR3 18783 19929000SH SOLE 19929000 0 0 Prologis NOTE 2.25% NOTE 04/01/37 743410AQ5 13615 14000000SH SOLE 14000000 0 0 Prologis NOTE 2.63% NOTE 05/15/38 743410AS1 4719 5000000SH SOLE 5000000 0 0 Prologis Trust Total SH BEN INT 743410102 493 37350SH OTHER 1 37350 0 0 Prologis Trust Total SH BEN INT 743410102 19827 1502019SH SOLE 1488819 0 13200 Provident Energy Trust COM 2739443 5441 700566SH SOLE 700566 0 0 Skyline Corporation COM 830830105 26525 1426074SH SOLE 1426074 0 0 Stanley Furniture Company, Inc. COM 854305208 24846 2445437SH SOLE 2445437 0 0 Superior Industries International, COM 868168105 38310 2382473SH SOLE 2382473 0 0 Sycamore Networks, Inc. Total COM 871206405 19610 975116SH OTHER 1 975116 0 0 Sycamore Networks, Inc. Total COM 871206405 95777 4762648SH SOLE 4634370 0128278 Synopsys Inc. COM 871607107 48762 2179776SH SOLE 2179776 0 0 Tejon Ranch Co. Total COM 879080109 501 16400SH OTHER 1 16400 0 0 Tejon Ranch Co. Total COM 879080109 149520 4899070SH SOLE 4877070 0 22000 Tellabs, Inc. Total COM 879664100 14797 1954703SH OTHER 1 1954703 0 0 Tellabs, Inc. Total COM 879664100 166309 21969545SH SOLE 21532095 0437450 The St. Joe Company Total COM 790148100 547 16923SH OTHER 1 16923 0 0 The St. Joe Company Total COM 790148100 73353 2267475SH SOLE 2228575 0 38900 Thomas Properties Group Inc. Total COM 884453101 911 273500SH OTHER 1 273500 0 0 Thomas Properties Group Inc. Total COM 884453101 25511 7661073SH SOLE 7661073 0 0 Tidewater Inc. COM 886423102 57553 1217528SH SOLE 1217528 0 0 United Microelectronics Corp. SPON ADR 910873405 1144 304303SH SOLE 304303 0 0 Vail Resorts Inc. COM 91879Q109 55068 1373607SH SOLE 1373607 0 0 Vornado Realty Trust Total SH BEN INT 929042109 804 10616SH OTHER 1 10616 0 0 Vornado Realty Trust Total SH BEN INT 929042109 67561 892487SH SOLE 885958 0 6529 Westlake Chemical Corp. COM 960413102 46485 1802443SH SOLE 1802443 0 0 Westwood Holdings Group Inc. COM 961765104 18164 493587SH SOLE 493587 0 0 Weyerhaeuser Company COM 962166104 54823 1211033SH SOLE 1117476 0 93557 Wilmington Trust Corp. COM 971807102 15536 937592SH SOLE 937592 0 0