Third Avenue Management

Third Avenue Management as of Dec. 31, 2011

Portfolio Holdings for Third Avenue Management

Third Avenue Management holds 0 positions in its portfolio as reported in the December 2011 quarterly 13F filing

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                                                                 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
AbitibiBowater Inc.                 COM NEW          003687209     7637   524895 SH          X              524895   0         0
Acadia Realty Trust                 COM SH BEN INT   004239109      403    19999 SH          X               19999   0         0
Aeropostale Inc.                    COM              007865108     9710   636700 SH          X              636700   0         0
Alamo Group, Inc.                   COM              011311107    19824   736115 SH          X              736115   0         0
Alexander & Baldwin, Inc.           COM              014482103    53265  1304875 SH          X             1304685   0       190
Alico, Inc.                         COM              016230104     4940   255041 SH          X              255041   0         0
Alleghany Corp.                     COM              017175100    13801    48377 SH          X               48377   0         0
American Eagle Outfitters           COM              02553E106    26214  1714422 SH          X             1714422   0         0
Annaly Capital Mgmtt, Inc.          COM              035710409      185    11600 SH          X               11600   0         0
Applied Materials, Inc.             COM              038222105    10632   992730 SH        OTHER     1      992730   0         0
Applied Materials, Inc.             COM              038222105    45829  4279096 SH          X             4091971   0    187125
Arch Capital Group Ltd.             ORD              G0450A105    19603   526537 SH          X              526537   0         0
AVX Corporation                     COM              002444107    15105  1183815 SH        OTHER     1     1183815   0         0
AVX Corporation                     COM              002444107    42247  3310865 SH          X             3182159   0    128706
Bank of New York Mellon Corp.       COM              064058100    28234  1418079 SH        OTHER     1     1418079   0         0
Bank of New York Mellon Corp.       COM              064058100   170351  8556044 SH          X             8411411   0    144633
Bel Fuse Inc.                       CL B             077347300    22125  1179983 SH          X             1179983   0         0
Bristow Group Inc.                  COM              110394103    66601  1405374 SH          X             1401074   0      4300
Broadridge Financial Solutions Inc. COM              11133T103    42613  1889705 SH          X             1887030   0      2675
Brookfield Asset Mgmt. CL A         CL A LTD VT SH   112585104    11967   435468 SH        OTHER     1      435468   0         0
Brookfield Asset Mgmt. CL A         CL A LTD VT SH   112585104   292031 10627045 SH          X            10617268   0      9777
Brookfield Infrastructure Part.     LP INT UNIT      G16252101    11462   413805 SH          X              413805   0         0
Brookfield Properties               COM              112900105      587    37550 SH          X               37550   0         0
Capital Southwest                   COM              140501107    10287   126148 SH          X              126148   0         0
Capstead Mortgage Corporation       COM NO PAR       14067E506      156    12500 SH          X               12500   0         0
Carver Bancorp, Inc.                COM              146875109      121    14567 SH          X               14567   0         0
Cavco Industries, Inc.              COM              149568107    35814   894021 SH          X              894021   0         0
Cedar Shopping Centers              COM              150602209     2302   534000 SH          X              534000   0         0
Cenovus Energy Inc.                 COM              15135U109    41593  1252795 SH          X             1252795   0         0
Cimarex Energy Co.                  COM              171798101     9835   158881 SH          X              158881   0         0
Colonial Financial Services         COM              19566B101      591    47859 SH          X               47859   0         0
Compass Minerals Int'l              COM              20451N101     5499    79876 SH          X               79876   0         0
ConocoPhillips                      COM              20825C104     1361    18683 SH          X               18683   0         0
Consolidated Tomoka Land Co.        COM              210226106    13991   516855 SH          X              516855   0         0
Covanta Holding Corporation         COM              22282E102   126701  9255039 SH          X             9255039   0         0
Cowen group Inc                     CL A             223622101     7250  2799270 SH          X             2799270   0         0
Cross Country Healthcare Inc.       COM              227483104    18702  3369733 SH          X             3369733   0         0
Electro Scientific Industries, Inc. COM              285229100    18882  1303995 SH          X             1303995   0         0
Electronics for Imaging Inc.        COM              286082102    36122  2534885 SH          X             2524535   0     10350
EMCOR Group, Inc.                   COM              29084Q100    15776   588431 SH          X              588431   0         0
Encana Corporation                  COM              292505104    17922   966050 SH        OTHER     1      966050   0         0
Encana Corporation                  COM              292505104    72702  3923475 SH          X             3814520   0    108955
Encore Wire Corporation             COM              292562105    17620   680295 SH          X              680295   0         0
Excel Trust, Inc.                   COM              30068C109     9259   771590 SH          X              771590   0         0
Fedfirst Financial Corporation      COM              31429C101     3179   232032 SH          X              232032   0         0
First Industrial Realty Trust, Inc. COM              32054K103      419    40995 SH        OTHER     1       40995   0         0
First Industrial Realty Trust, Inc. COM              32054K103    39231  3834876 SH          X             3834876   0         0
First Niagara Financial Group, Inc. COM              33582V108     5458   632464 SH          X              632464   0         0
First Potomac Realty Trust          COM              33610F109      578    44300 SH          X               44300   0         0
Forest City Enterprises Inc. CL A   CL A             345550107      797    67392 SH        OTHER     1       67392   0         0
Forest City Enterprises Inc.        CL A             345550107   234266 19819492 SH          X            19816017   0      3475
Forest City Enterprises Inc.        CL B CONV        345550305      306    25800 SH          X               25800   0         0
General Growth Properties, Inc.     COM              370023103      308    20517 SH        OTHER     1       20517   0         0
General Growth Properties, Inc.     COM              370023103    26440  1760337 SH          X             1760337   0         0
General Motors Co.                  COM              37045V100     7732   381467 SH          X              381467   0         0
Glatfelter P. H. Co.                COM              377316104    36079  2555178 SH          X             2555178   0         0
Haemonetics Corporation             COM              405024100    18129   296131 SH          X              296131   0         0
Haverty Furniture Co. Inc.          COM              419596101    16495  1502318 SH          X             1502318   0         0
HCC Insurance Holdings              COM              404132102    30872  1122604 SH          X             1122604   0         0
ICF International, Inc.             COM              44925C103    22868   922856 SH          X              922856   0         0
Ingram Micro Inc.                   CL A             457153104    56573  3110112 SH          X             3110112   0         0
Insteel Industries Inc.             COM              45774W108     9576   871364 SH          X              871364   0         0
Intel Corporation                   COM              458140100     9336   385000 SH          X              385000   0         0
Investment Technology Group         COM              46145F105    37674  3485122 SH          X             3477697   0      7425
Irsa Inversiones Y Rep S A          GDR              450047204      859    82814 SH          X               82814   0         0
J^J Snack Foods Corporation         COM              466032109     2291    42991 SH          X               42991   0         0
Jakks Pacific, Inc.                 COM              47012E106    12237   867234 SH          X              867234   0         0
Kaiser Aluminum Corp.               COM PAR $0.01    483007704    39934   870394 SH          X              870394   0         0
Kearny Financial Corp.              COM              487169104     5892   620214 SH          X              620214   0         0
Keycorp                             COM              493267108     8756  1138566 SH        OTHER     1     1138566   0         0
Keycorp                             COM              493267108   100137 13021722 SH          X            13007522   0     14200
Kimco Realty Corp                   COM              49446R109      371    22845 SH          X               22845   0         0
Kinross Gold Corporation            COM NO PAR       496902404    32200  2819187 SH          X             2819187   0         0
Lennar Corp.                        CL A             526057104      527    26831 SH        OTHER     1       26831   0         0
Lennar Corp.                        CL A             526057104    47656  2425238 SH          X             2425238   0         0
Leucadia National Corporation       COM              527288104    78143  3436374 SH          X             3432049   0      4325
Lexmark International Inc.          CL A             529771107    44973  1359944 SH          X             1359944   0         0
Liberty Media-Starz Group           LIB STAR COM A   53071M708    39463   505614 SH          X              505614   0         0
Lowe's Companies Inc.               COM              548661107      635    25000 SH        OTHER     1       25000   0         0
Lowe's Companies Inc.               COM              548661107    77519  3054350 SH          X             3054350   0         0
Madison Square Garden Inc.          CL A             55826P100    48873  1706457 SH          X             1706457   0         0
Mantech International Corp.         COM              564563104    39371  1260262 SH          X             1260262   0         0
MDC Holdings Inc.                   COM              552676108      448    25411 SH          X               25411   0         0
MEMC Electronic Materials, Inc.     COM              552715104    10878  2760881 SH          X             2760881   0         0
Minerals Technologies Inc.          COM              603158106     4147    73368 SH        OTHER     1       73368   0         0
Minerals Technologies Inc.          COM              603158106    28312   500830 SH          X              500830   0         0
Montpelier Re Holdings Ltd.         SHS              G62185106    13774   776022 SH          X              776022   0         0
National Western Life Insurance Co. CL A             638522102     2212    16245 SH          X               16245   0         0
Newmont Mining Corporation          COM              651639106    29794   496482 SH          X              496482   0         0
Oshkosh Corporation                 COM              688239201    38794  1814478 SH          X             1814478   0         0
Park Electrochemical Corporation    COM              700416209    18290   713884 SH          X              713884   0         0
Pioneer Drilling Co.                COM              723655106    17823  1841207 SH          X             1841207   0         0
Posco                               ADR              693483109    27805   338677 SH        OTHER     1      338677   0         0
Posco                               ADR              693483109   330005  4019550 SH          X             3988880   0     30670
Precision Drilling Corp,            COM              74022D308    21429  2078100 SH          X             2078100   0         0
Prologis Inc.                       COM              74340W103      405    14180 SH          X               14180   0         0
Provident Energy Ltd                COM              74386V100     6788   700566 SH          X              700566   0         0
PS Business Parks, Inc.             COM              69360J107      338     6100 SH          X                6100   0         0
Sanderson Farms Inc.                COM              800013104      247     4920 SH          X                4920   0         0
Sanofi- Aventis                     SPON ADR         80105N105      554    15155 SH          X               14855   0       300
Scorpio Tankers                     COM              Y7542C106     9262  1894128 SH          X             1894128   0         0
Seacor Holdings Inc.                COM              811904101    49055   551422 SH          X              551422   0         0
SemGroup Corporation                CL A             81663A105    32767  1257351 SH          X             1257351   0         0
Sensient Technologies Corp.         COM              81725T100    18301   482876 SH          X              482876   0         0
Skyline Corporation                 COM              830830105     3551   816248 SH          X              816248   0         0
SPDR TR UNIT SER 1                  ETF              78462F103     6308    50260 SH          X               50260   0         0
Stanley Furniture Company, Inc.     COM              854305208     9038  3012824 SH          X             3012824   0         0
Superior Industries Int'l, Inc.     COM              868168105    39982  2417303 SH          X             2417303   0         0
Sycamore Networks, Inc.             COM              871206405    11350   634076 SH        OTHER     1      634076   0         0
Sycamore Networks, Inc.             COM              871206405    60132  3359335 SH          X             3310577   0     48758
Tejon Ranch Co.                     COM              879080109      452    18482 SH        OTHER     1       18482   0         0
Tejon Ranch Co.                     COM              879080109   115975  4737531 SH          X             4737531   0         0
Telefex Inc.                        COM              879369106    39036   636906 SH          X              636906   0         0
Tellabs, Inc.                       COM              879664100     8529  2111042 SH        OTHER     1     2111042   0         0
Tellabs, Inc.                       COM              879664100    93231 23076913 SH          X            23051288   0     25625
Terreno Realty Corp.                COM              88146M101     4783   315890 SH          X              315890   0         0
The St. Joe Company                 COM              790148100        2      105 SH        OTHER     1         105   0         0
The St. Joe Company                 COM              790148100      232    15795 SH          X               15795   0         0
Thomas Properties Group Inc.        COM              884453101      217    65300 SH        OTHER     1       65300   0         0
Thomas Properties Group Inc.        COM              884453101    25315  7601979 SH          X             7601979   0         0
Tidewater Inc.                      COM              886423102    16744   339631 SH          X              339631   0         0
Transatlantic Holdings Inc.         COM              893521104     5473   100000 SH        OTHER     1      100000   0         0
Transatlantic Holdings Inc.         COM              893521104    13356   244029 SH          X              244029   0         0
UniFirst Corporation                COM              904708104    19360   341199 SH          X              341199   0         0
Vail Resorts Inc.                   COM              91879Q109    58559  1382421 SH          X             1382421   0         0
Vornado Realty Trust                SH BEN INT       929042109      431     5611 SH        OTHER     1        5611   0         0
Vornado Realty Trust                SH BEN INT       929042109    50317   654652 SH          X              654652   0         0
Westlake Chemical Corp.             COM              960413102    26203   651174 SH          X              651174   0         0
Westwood Holdings Group Inc.        COM              961765104    19496   533394 SH          X              533394   0         0
Weyerhaeuser Company                COM              962166104      457    24498 SH        OTHER     1       24498   0         0
Weyerhaeuser Company                COM              962166104   122756  6575056 SH          X             6566229   0      8827
White Mountains Insurance Group     COM              G9618E107     8029    17705 SH        OTHER     1       17705   0         0
White Mtns Insurance Group          COM              G9618E107    44495    98123 SH          X               98123   0         0