13F-HR/A 1 tam032006.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, 2006 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 June 15, 2006 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: 194 Form 13F Information Table Value Total: $10,949,422 (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

COLUMN 1 COLUMN COLUMN 3 COLUMN 4 COLUMN COLUMN 6 COLUMN 7 COLUMN 8 ------------------- --------------- -------- ----------------------- ------ ------------------- INVESTMENT VOTING AUTHORITY DISCRETION (SHARES) SHARED MARKET SOLESHARED OTHER SOLE SHARED NONE SECURITY DESCRIPTION CLASS CUSIP SHARES VALUE (A) (B) (C) MGR (A) (B) (C) Abitibi Consolidated Inc. COM 003924107 15124525 62616 X 1436772 0 756800 Acadia Realty Trust COM 004239109 2464200 58032 X 2461200 0 3000 Ace Limited COM G0070K103 87035 4527 X 87035 0 0 Acergy S. A. ADR ADR 861567105 637850 9880 X 593228 0 44622 Acmat Corp.- Class A CL A 004616207 200678 3412 X 200678 0 0 Agree Realty Corporation COM 008492100 13400 430 X 13400 0 0 Agrium, Inc. COM 8916108 3791487 95773 X 3731237 0 60250 Alamo Group, Inc. COM 011311107 3105359 68753 X 2217600 0 887759 Alexander & Baldwin, Inc. COM 014482103 2117117 100944 X 2117117 0 0 Alico, Inc. COM 016230104 418531 19018 X 418531 0 0 Alto Palermo S.A. ADR ADR 02151P107 85156 749 X 85156 0 0 Ambac Financial Group COM 023139108 661109 3668 X 649865 0 11290 Ambac Financial Group COM 023139108 46 48960 X 1 0 0 0 American Axle & Manufacturing Holdings Inc.COM 024061103 2180600 37354 X 2180600 0 0 American Financial Realty Trust SBI 02607P305 3894850 45375 X 3893800 0 1050 American Land Lease Inc. COM 027118108 755458 20662 X 752008 0 3450 American Power Conversion Corp COM 029066107 5037626 116420 X 4972158 0 65468 Analogic Corporation COM 032657207 94375 6248 X 90875 0 3500 Anthracite Capital Inc. COM 037023108 1190825 13075 X 1190825 0 0 Applied Materials, Inc. COM 038222105 2179844 38169 X 2093090 0 86754 Arch Capital Group Ltd. COM G0450A105 1856133 107173 X 1819733 0 36400 Associated Estates Realty Corporation COM 045604105 1515025 17044 X 1514025 0 1000 Avatar Holdings Inc. COM 053494100 736890 44950 X 734190 0 2700 AVX Corporation COM 002444107 17505525 304971 X 1528537 0 2220430 AVX Corporation COM 002444107 276 4882 X 1 0 0 0 Banco Latinoamericano Exportaciones, S.A. COM P16994132 285000 4848 X 285000 0 0 Bancolombia S.A. ADR ADR 2082567 75000 607 X 75000 0 0 Bandag Incorporated COM 059815100 1429375 59848 X 1405625 0 23750 Bedford Property Investors CL A 076446301 75950 2045 X 75950 0 0 Bel Fuse Inc. CL. A CL A 077347201 289188 8152 X 289188 0 0 BelFuse Inc. CL B CL B 077347300 986180 34546 X 981080 0 5100 Berkshire Hills Bancorp Inc. COM 084680107 390800 13655 X 390800 0 0 Borland Software Corporation COM 099849101 7789798 42065 X 7789798 0 0 Brookfield Asset Mgmt. CL A CL A 112585104 12136201 664829 X 1204138 0 94875 Brookfield Asset Mgmt. CL A CL A 112585104 62 3394 X 1 0 0 0 Brookfield Properties COM 112900105 3124650 106707 X 3119400 0 5250 Brookline Bancorp, Inc. COM 11373M107 5478549 84863 X 5260574 0 217975 Brooklyn Federal Bancorp Inc. COM 114039100 637122 7722 X 637122 0 0 California First National Bank COM 130222102 141758 2050 X 141758 0 0 Canadian Natural Resources COM 136385101 705250 39064 X 686000 0 19250 Capital Lease Funding Inc. COM 140288101 1800550 19968 X 1800550 0 0 Capital Southwest COM 140501107 245561 23451 X 242091 0 3470 Carver Bancorp, Inc. COM 146875109 218500 3717 X 218500 0 0 Cavco Industries, Inc. COM 149568107 312720 15195 X 312720 0 0 Cie Generale De Geophysique-SP ADR ADR 204386106 192150 5580 X 192150 0 0 CIT Group Inc. COM 125581108 1039840 55652 X 560535 0 479305 Clifton Savings Bancorp Inc. COM 18712Q103 50000 535 X 50000 0 0 CNX Gas Corp. - GDR 144A COM 12618H101 535800 13931 X 535800 0 0 Coachmen Industries, Inc. COM 189873102 1150800 13096 X 1150800 0 0 Coherent Inc. COM 192479103 1046254 36734 X 1046254 0 0 Colonial Bankshares Inc. COM 195572102 16226 206 X 16226 0 0 Columbia Equity Trust Inc. REIT 197627102 1144700 20124 X 1143100 0 1600 Commscope Inc. COM 203372107 2870525 81953 X 2832175 0 38350 Comstock Resources, Inc. COM 205768203 2142267 63604 X 2142267 0 0 Comverse Technology, Inc. COM 205862402 3856276 90738 X 3793426 0 62850 Concord Camera Corporation COM 206156101 350000 389 X 350000 0 0 Consolidated Tomoka Land Company COM 210226106 644040 40014 X 641765 0 2275 Covanta Holding Corporation COM 22282E102 8816889 146978 X 8816889 0 0 Credence Systems Corporation COM 225302108 7194978 52811 X 6886878 0 308100 Cresud S.A. ADR ADR 226406106 226952 3275 X 226952 0 0 Cross Country Healthcare Inc. COM 227483104 3111757 60244 X 3029232 0 82525 Datascope Corporation COM 238113104 382936 15149 X 374274 0 8662 Deltic Timber COM 247850100 716950 43447 X 716950 0 0 Dress Barn, Inc. COM 261570105 339705 16289 X 339705 0 0 Electro Scientific Industries, Inc. COM 285229100 4056691 89775 X 3931179 0 125512 Electronics for Imaging Inc. COM 286082102 3795093 106149 X 3673518 0 121575 Encana Corporation COM 292505104 3268606 146383 X 2336492 0 932250 Encana Corporation COM 292505104 136 6365 X 1 0 0 0 Fairmont Hotels & Resorts Inc COM 305204109 1989800 88944 X 1988050 0 1750 FBL Financial Group, Inc. CL A 30239F106 486300 16753 X 486300 0 0 Fedfirst Financial Corporation COM 31429X105 169104 1674 X 169104 0 0 First Potomac Realty Trust SBI 33610F109 567700 16038 X 566800 0 900 Florida East Coast Industries, Inc. COM 340632108 55032 2966 X 55032 0 0 Fording Canadian Coal Trust UNIT 345425102 1648431 62624 X 1647171 0 1260 Forest City Enterprise CL B CL B 345550305 26150 1233 X 26150 0 0 Forest City Enterprises Inc. CL A CL A 345550107 16475352 776813 X 1531712 0 1158230 FSI International, Inc. COM 302633102 86550 456 X 79400 0 7150 Gemstar-TV Guide International, Inc. COM 36866W106 180307 557 X 180307 0 0 Golar LNG Ltd. COM 7139695 1938700 26618 X 1938700 0 0 Gouverneur Bancorp Inc. COM 383584109 142200 1778 X 142200 0 0 GSI Group Inc. COM 36229U102 1371504 15155 X 1371504 0 0 Handleman Company COM 410252100 1124519 10795 X 1124519 0 0 Haverty Furniture Companies Incorporated COM 419596101 2249244 32277 X 2249244 0 0 Herley Industries, Inc. COM 427398102 1090593 22772 X 1090593 0 0 Home Federal Bancorp Inc/ LA COM 43708F101 64700 663 X 64700 0 0 Hutchinson Technology Inc. COM 448407106 100022 3018 X 100022 0 0 IDT Corp Class B COM 448947309 3790643 41962 X 3790643 0 0 Industrias Bachoco, S.A. DE C.V. ADR 456463108 722000 12584 X 722000 0 0 Ingram Micro Inc. COM 457153104 846600 16932 X 846600 0 0 Investment Technology Group. COM 46145F105 132800 6613 X 132800 0 0 Investor Bancorp Inc COM 46146P102 1901176 26502 X 1882476 0 18700 Irsa Investments and Representations Inc. COM 450047204 712800 8447 X 712800 0 0 J&J Snack Foods Corporation COM 466032109 17950 603 X 12950 0 5000 Jakks Pacific, Inc. COM 47012E106 3732388 99804 X 3665644 0 66744 Jefferies Group COM 472319102 447200 26161 X 447200 0 0 JER Investors Trust Inc. REIT 46614H301 1637200 27210 X 1635800 0 1400 Jones Lang Lasalle COM 48020Q107 838527 64181 X 838527 0 0 Kearny Financial Corp. COM 487169104 407056 5589 X 407056 0 0 Kemet Corporation COM 488360108 868765 8227 X 829290 0 39475 K-Swiss Incl CL A CL A 482686102 1501125 45244 X 1501125 0 0 Leapfrog Enterprises Inc. CL A 52186N106 7728611 82078 X 7524311 0 204300 Legg Mason Inc. COM 524901105 2391438 299719 X 2347481 0 43957 Leucadia National Corporation COM 527288104 748567 44660 X 747417 0 1150 Levitt Corporation CL A 52742P108 208750 4601 X 208750 0 0 Lexmark International Inc. CL A CL A 529771107 942590 42775 X 926840 0 15750 Lindsay Manufacturing Co. COM 535555106 1159400 31408 X 1159400 0 0 Magma Design Automation, Inc. COM 559181102 1577506 13645 X 1577506 0 0 Magyar Bancorp Inc. COM 55977T109 20217 243 X 20217 0 0 Maverick Tube Corporation COM 577914104 2340644 119764 X 2340725 0 0 Maverick Tube Corporation COM 577914104 81 4271 X 1 0 0 0 MBIA Inc. COM 55262C100 4193402 252149 X 4159366 0 34036 Medical Properties Trust COM 58463J304 75000 810 X 75000 0 0 Mellon Financial Corporation COM 58551A108 5284915 181012 X 4902666 0 382450 Mellon Financial Corporation COM 58551A108 201 7138 X 1 0 0 0 Mestek Inc. COM 590829107 360100 4530 X 360100 0 0 Millea Holdings, Inc. ADR ADR 60032R106 3154459 311067 X 3108689 0 45770 Mirant Corp. COM 60467R100 861208 21530 X 861208 0 0 Montpelier Re Holdings Ltd. COM G62185106 1646600 26840 X 1646600 0 0 Nabors Industries COM G6359F103 2140607 153225 X 2112203 0 28404 National Western Life Insurance Co. CL A 638522102 123710 28737 X 123710 0 0 NewAlliance Bancshares, Inc. COM 650203102 7682888 110864 X 7432507 0 250381 Nortel Inversora-ADR Pfd B ADR 656567401 329100 3288 X 329100 0 0 Northern Orion Resources, Inc. COM 2820507 230000 1035 X 230000 0 0 NTL Inc. COM 62940M104 52500 1528 X 52500 0 0 Nuveen Investments, Inc., CL A CL A 67090F106 489900 23589 X 489900 0 0 Ocean Shore Holding Company COM 67501P107 55641 683 X 55641 0 0 Omega Flex Inc. COM 682095104 360100 6860 X 360100 0 0 One Liberty Properties COM 682406103 1037000 20564 X 1036400 0 600 Opteum, Inc. CL A REIT CL68384A100 110000 942 X 110000 0 0 Origen Financial Inc. COM 68619E208 2322617 14122 X 2266967 0 55650 Pan American Silver Corporation COM 697900108 13000 329 X 13000 0 0 Parexel International Corporation COM 699462107 3193891 84446 X 3102526 0 91365 Park Electrochemical Corporation COM 700416209 965900 28494 X 965900 0 0 Pfizer Inc. COM 717081103 3955616 95133 X 3877839 0 77915 Pfizer Inc. COM 717081103 138 3444 X 1 0 0 0 Pharmaceutical Product Development Inc. COM 717124101 1868526 64670 X 1868526 0 0 PHH Corporation COM 693320202 576700 15398 X 576700 0 0 Pogo Producing Company COM 730448107 1839326 86359 X 1839447 0 0 Pogo Producing Company COM 730448107 121 6073 X 1 0 0 0 Posco ADR ADR 693483109 4845280 304062 X 4272025 0 573335 Posco ADR ADR 693483109 80 5072 X 1 0 0 0 Precision Drilling Trust TR UNIT 740215108 487400 15763 X 487400 0 0 Prologis Trust SBI 743410102 7350256 393239 X 7333028 0 17228 Prudential Bancorp Inc. PA COM 744319104 64950 877 X 64950 0 0 PS Business Parks, Inc. COM 69360J107 2169475 121317 X 2168175 0 1300 Radian Group Inc. COM 750236101 2296909 138389 X 2264362 0 32547 Rait Investment Trust SBI 749227104 759500 21448 X 759500 0 0 Raymond James Financial COM 754730109 2456093 72602 X 2456093 0 0 Rockville Financial Inc. COM 774186100 132788 1903 X 132788 0 0 Rosetta Resources, Inc. COM 777779109 800000 14368 X 800000 0 0 RTI International Metals, Inc. COM 74973W107 114500 6280 X 114500 0 0 Russ Berrie and Company, Inc. COM 782233100 3614085 54934 X 3520610 0 93475 Sabre Holdings Corp. CL A COM 785905100 30000 706 X 30000 0 0 Safety Insurance Group, Inc. COM 78648T100 175000 7991 X 175000 0 0 Sears Holding Corporation COM 812350106 1101613 145176 X 1101613 0 0 Skyline Corporation COM 830830105 336200 13912 X 336200 0 0 Spirit Finance Corporation COM 848568309 10900 133 X 10900 0 0 St. Jude Medical Inc. COM 790849103 363000 14883 X 363000 0 0 St. Mary Land & Exploration COM 792228108 1950303 79631 X 1950303 0 0 Standex International Corporation COM 854231107 480500 15213 X 480500 0 0 Stanley Furniture COM 854305208 476642 13942 X 476642 0 0 Stewart Information Services COM 860372101 479800 22589 X 479800 0 0 Suncor Energy Inc. COM 867229106 1186975 91421 X 1163450 0 23525 Superior Industries International, Inc. COM 868168105 5583768 103373 X 5467770 0 116242 Superior Industries International, Inc. COM 868168105 244 4733 X 1 0 0 0 SWS Group Inc. COM 78503N107 187590 4905 X 187590 0 0 Sybase Inc. COM 871130100 650400 13736 X 650400 0 0 Sycamore Networks, Inc. COM 871206108 18933861 88989 X 1827928 0 654575 Synopsys Inc. COM 871607107 1577099 35248 X 1577099 0 0 TD Banknorth Inc. COM 87235A101 34087 1000 X 34087 0 0 Technitrol, Inc. COM 878555101 172700 4141 X 172700 0 0 Tejon Ranch Co. COM 879080109 4402806 215165 X 4398853 0 3953 Tellabs, Inc. COM 879664100 9912368 157607 X 9589368 0 323000 The Buckle, Inc. COM 118440106 269300 11028 X 269300 0 0 The First American Corporation COM 318522307 1048800 41071 X 1048800 0 0 The Phoenix Companies COM 71902E109 4573975 74556 X 4561865 0 12110 The St. Joe Company COM 790148100 10447833 656542 X 1037898 0 68850 Thomas Properties Group Inc. COM 884453101 2267744 30864 X 2261694 0 6050 Tidewater Inc. COM 886423102 848800 46879 X 848800 0 0 Tompkins Trustco Inc. COM 890110109 49731 2395 X 49731 0 0 Toronto-Dominion Bank COM 891160509 16354 911 X 16354 0 0 Trammell Crow Company COM 89288R106 6484632 231242 X 6480232 0 4400 Trinity Industries COM 896522109 1473005 80117 X 1463805 0 9200 Triquint Semiconductor, Inc. COM 89674K103 500600 2463 X 500600 0 0 TXU Corporation COM 873168108 800000 35808 X 800000 0 0 Vail Resorts Inc. COM 91879Q109 1271414 48593 X 1269864 0 1550 Vishay Intertecnology, Inc. COM 928298108 656842 9353 X 652842 0 4000 Vornado Realty Trust COM 929042109 1583825 152047 X 1582550 0 1275 Wauwatosa Holdings Inc. COM 94348P108 405768 5518 X 405768 0 0 Weatherford Int'l Ltd. COM 2962421 203636 9316 X 203636 0 0 Westwood Holdings Group Inc. COM 961765104 1044251 20624 X 1044251 0 0 White Mountains Insurance Group COM G9618E107 61200 36383 X 61200 0 0 Whiting Petroleum Corporation COM 966387102 2130875 87345 X 2114200 0 16675 Willbros Group, Inc. COM 969199108 1630838 33171 X 1630175 0 663