13F-HR 1 tam093010.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: September 30, 2010 Check here if Amendment: | |; Amendment Number: This Amendment (Check only one): |_| 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 November 15, 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: 117 Form 13F Information Table Value Total: $4,867,428 (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 PRN CALL DSCRETN MNGRS SOLE SHARED NONE Acadia Realty Trust COM SH BEN INT 004239109 380 19999 SH SOLE 19999 0 0 Alamo Group, Inc. COM 011311107 20510 918510 SH SOLE 918510 0 0 Alexander & Baldwin, Inc. COM 014482103 69365 1990945 SH SOLE 1990420 0 525 Alico, Inc. COM 016230104 6238 268414 SH SOLE 268414 0 0 Alto Palermo S.A. ADR 02151P107 1085 99144 SH SOLE 99144 0 0 Annaly Capital Management, Inc. COM 035710409 203 11540 SH SOLE 11540 0 0 Applied Materials, Inc. COM 038222105 24799 2123171 SH SOLE 1989351 0 133820 Arch Capital Group Ltd. ORD G0450A105 16008 191022 SH SOLE 191022 0 0 AVX Corporation COM 002444107 24633 1782439 SH OTHER 1 1782439 0 0 AVX Corporation COM 002444107 82132 5942978 SH SOLE 5526982 0 415996 Bank of New York Mellon Corp. COM 064058100 32377 1239079 SH OTHER 1 1239079 0 0 Bank of New York Mellon Corp. COM 064058100 228082 8728729 SH SOLE 8479841 0 248888 Barclays Bank PLC ETN DJUBS AGRI37 06739H206 6624 132472 SH SOLE 132472 0 0 Bel Fuse Inc. CL B CL B 077347300 21760 1045163 SH SOLE 1045163 0 0 Bristow Group Inc. COM 110394103 69753 1933280 SH SOLE 1864130 0 69150 Broadridge Financial Solutions Inc.COM 11133T103 8441 369085 SH SOLE 369085 0 0 Bronco Drilling Co. Inc. COM 112211107 25267 6332503 SH SOLE 6332503 0 0 Brookfield Asset Mgmt. CL A LTD VT SH 112585104 1091 38468 SH OTHER 1 38468 0 0 Brookfield Asset Mgmt. CL A LTD VT SH 112585104 507172 17877040 SH SOLE 17716626 0 160414 Brookfield Infrastructure Partners LP INT UNIT G16252101 8358 430819 SH SOLE 430819 0 0 Brookfield Properties COM 112900105 1275 82150 SH SOLE 56650 0 25500 Brooklyn Federal Bancorp Inc. COM 114039100 1166 637122 SH SOLE 637122 0 0 Capital Southwest COM 140501107 11315 124620 SH SOLE 124620 0 0 Carver Bancorp, Inc. COM 146875109 673 218500 SH SOLE 218500 0 0 Cavco Industries, Inc. COM 149568107 29848 831181 SH SOLE 831181 0 0 Cenovus Energy Inc. COM 15135U109 16333 566250 SH OTHER 1 566250 0 0 Cenovus Energy Inc. COM 15135U109 86083 2993565 SH SOLE 2830638 0 162927 Cimarex Energy Co. COM 171798101 146089 2207448 SH SOLE 2194523 0 12925 CIT Group Inc. COM 125581801 6043 148045 SH SOLE 148045 0 0 Colonial Financial Services COM 19566B101 464 47859 SH SOLE 47859 0 0 ConocoPhillips COM 20825C104 4146 72192 SH SOLE 72192 0 0 Consolidated Tomoka Land Co. COM 210226106 282 9900 SH OTHER 1 9900 0 0 Consolidated Tomoka Land Co. COM 210226106 14725 516500 SH SOLE 516500 0 0 Covanta Holding Corporation COM 22282E102 145865 9261289 SH SOLE 9261289 0 0 Cross Country Healthcare Inc. COM 227483104 46130 6415867 SH SOLE 6415867 0 0 Developers Diversified Realty Note 3% 3/15/12 251591AS2 19550 20000000 SH SOLE 20000000 0 0 Dex One Corporation COM 25212W100 1099 89533 SH SOLE 89533 0 0 Electro Scientific Industries, Inc.COM 285229100 37791 3401511 SH SOLE 3401511 0 0 Electronics for Imaging Inc. COM 286082102 49975 4123381 SH SOLE 3946131 0 177250 Encana Corp. COM 292505104 24192 798250 SH OTHER 1 798250 0 0 Encana Corp. COM 292505104 121645 4025999 SH SOLE 3816742 0 209257 Encore Wire Corp. COM 292562105 42615 2077753 SH SOLE 2077753 0 0 Fedfirst Financial Corp. COM 31429C101 2636 232032 SH SOLE 232032 0 0 First Industrial Realty Trust, Inc.COM 32054K103 8830 1741600 SH SOLE 1741600 0 0 Forest City Enterprises Inc. CL A 345550107 879 68540 SH OTHER 1 68540 0 0 Forest City Enterprises Inc. CL A 345550107 249752 19466249 SH SOLE 19368781 0 97468 Forest City Enterprises Inc. CL B CONV 345550305 329 25800 SH SOLE 25800 0 0 Furiex Parmaceuticals COM 36106P101 438 38789 SH SOLE 38789 0 0 General Growth Properties, Inc. COM 370021107 8 525 SH OTHER 1 525 0 0 General Growth Properties, Inc. COM 370021107 1707 109427 SH SOLE 108115 0 1312 Glatfelter P. H. Co. COM 377316104 34830 2864333 SH SOLE 2864333 0 0 Haverty Furniture Companies Inc. COM 419596101 21771 1995551 SH SOLE 1995551 0 0 HCC Insurance Holdings COM 404132102 18324 702333 SH SOLE 702333 0 0 Herley Industries, Inc. COM 427398102 19160 1161220 SH SOLE 1161220 0 0 HKN Inc. COM 40420K103 167 47478 SH SOLE 47478 0 0 Imation Corp. COM 45245A107 6633 710909 SH SOLE 710909 0 0 Ingram Micro Inc. CL A 457153104 36690 2176147 SH SOLE 2176147 0 0 Insteel Industries Inc. COM 45774W108 7854 874624 SH SOLE 874624 0 0 Intel Corporation COM 458140100 11057 575000 SH SOLE 575000 0 0 International Coal Group Inc. COM 45928H106 3482 654461 SH SOLE 654461 0 0 Investment Technology Group COM 46145F105 62976 4428693 SH SOLE 4307593 0 121100 Irsa Inversiones Y Rep S A GDR 450047204 805 54429 SH SOLE 54429 0 0 Jakks Pacific, Inc. COM 47012E106 26954 1528019 SH SOLE 1528019 0 0 Kaiser Aluminum Corp. COM PAR $0.01 483007704 32525 760098 SH SOLE 760098 0 0 Kearny Financial Corp. COM 487169104 6031 682994 SH SOLE 682994 0 0 Keycorp COM 493267108 6456 811066 SH OTHER 1 811066 0 0 Keycorp COM 493267108 97679 12271212 SH SOLE 12146137 0 125075 Kinross Gold Corp. COM 496902404 10827 575476 SH SOLE 523962 0 51514 K-Swiss Inc. CL A 482686102 52922 4150738 SH SOLE 4150738 0 0 Lennar Corp. CL A 526057104 260 16900 SH OTHER 1 16900 0 0 Lennar Corp. CL A 526057104 29097 1891900 SH SOLE 1883900 0 8000 Leucadia National Corp. COM 527288104 84875 3593347 SH SOLE 3377320 0 216027 Lexmark International Inc. CL A 529771107 41771 936156 SH SOLE 936156 0 0 Liberty Media-Starz Group LIB STAR COM A 53071M708 11751 181124 SH SOLE 181124 0 0 MDC Holdings Inc. COM 552676108 10019 345114 SH SOLE 333089 0 12025 MEMC Electronic Materials, Inc. COM 552715104 23149 1942047 SH SOLE 1942047 0 0 Montpelier Re Holdings Ltd. SHS G62185106 37644 2173427 SH SOLE 2173427 0 0 Nabors Industries SHS G6359F103 219754 12168000 SH SOLE 12168000 0 0 National Western Life Insurance Co.CL A 638522102 40533 288122 SH SOLE 288122 0 0 NewAlliance Bancshares, Inc. COM 650203102 6474 512986 SH SOLE 512986 0 0 Newmont Mining Corp. COM 651639106 54670 870397 SH SOLE 806738 0 63659 Park Electrochemical Corp. COM 700416209 33155 1258735 SH SOLE 1258735 0 0 Pharmaceutical Product Dev. Inc. COM 717124101 69425 2800519 SH SOLE 2724794 0 75725 Pioneer Drilling Co. COM 723655106 18797 2946275 SH SOLE 2946275 0 0 Posco ADR 693483109 35468 311177 SH OTHER 1 311177 0 0 Posco ADR 693483109 461404 4048110 SH SOLE 4020940 0 27170 Prologis Trust SH BEN INT 743410102 440 37350 SH OTHER 1 37350 0 0 Prologis Trust SH BEN INT 743410102 17693 1501927 SH SOLE 1488727 0 13200 Provident Energy Trust COM 2739443 4985 700566 SH SOLE 700566 0 0 Sanofi-Aventis S.A. ADR 80105N105 948 28525 SH SOLE 28225 0 300 Skyline Corp. COM 830830105 28668 1415011 SH SOLE 1415011 0 0 Stanley Furniture Company, Inc. COM 854305208 8976 2609225 SH SOLE 2609225 0 0 Superior Industries International, COM 868168105 40858 2364473 SH SOLE 2364473 0 0 Sycamore Networks, Inc. COM 871206405 46426 1432466 SH OTHER 1 1432466 0 0 Sycamore Networks, Inc. COM 871206405 161899 4995354 SH SOLE 4844226 0 151128 Synopsys Inc. COM 871607107 32503 1312187 SH SOLE 1312187 0 0 Tejon Ranch Co. COM 879080109 401 18482 SH OTHER 1 18482 0 0 Tejon Ranch Co. COM 879080109 110335 5091582 SH SOLE 5066788 0 24794 Tellabs, Inc. COM 879664100 9792 1314353 SH OTHER 1 1314353 0 0 Tellabs, Inc. COM 879664100 116055 15577888 SH SOLE 15141738 0 436150 Terreno Realty Corp. COM 88146M101 456 25000 SH SOLE 25000 0 0 The St. Joe Company COM 790148100 421 16923 SH OTHER 1 16923 0 0 The St. Joe Company COM 790148100 54156 2177563 SH SOLE 2138663 0 38900 Thomas Properties Group Inc. COM 884453101 327 91500 SH OTHER 1 91500 0 0 Thomas Properties Group Inc. COM 884453101 26963 7552729 SH SOLE 7552729 0 0 Tidewater Inc. COM 886423102 47861 1068088 SH SOLE 1068088 0 0 UniFirst Corporation COM 904708104 5442 123272 SH SOLE 123272 0 0 United Microelectronics Corp. SPON ADR 910873405 448 161251 SH SOLE 161251 0 0 Vail Resorts Inc. COM 91879Q109 35994 959331 SH SOLE 959331 0 0 Vornado Realty Trust SH BEN INT 929042109 609 7116 SH OTHER 1 7116 0 0 Vornado Realty Trust SH BEN INT 929042109 75877 887140 SH SOLE 880611 0 6529 Westfield Financial, Inc. COM 96008P104 114 14650 SH SOLE 14650 0 0 Westlake Chemical Corp. COM 960413102 46302 1547024 SH SOLE 1547024 0 0 Westwood Holdings Group Inc. COM 961765104 18008 532304 SH SOLE 532304 0 0 Weyerhaeuser Company COM 962166104 266 16858 SH OTHER 1 16858 0 0 Weyerhaeuser Company COM 962166104 91150 5783626 SH SOLE 5477721 0 305906 Wilmington Trust Corp. COM 971807102 21506 2394869 SH SOLE 2394869 0 0