13F-HR 1 tam062005.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: June 30, 2005 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 August 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: 182 Form 13F Information Table Value Total: $8,826,153 (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 5COLUMN 6 COLUMN 7COLUMN 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) 3Com Corp COM 885535104 100,000 364 X 100,000 0 0 Acadia Realty Trust COM 004239109 1,981,700 36,959 X 1,978,600 0 3,100 Ace Limited ORD G0070K103 87,035 3,904 X 87,035 0 0 Acmat Corp.- Class A CL A 004616207 200,678 2,836 X 200,678 0 0 Advanced Power Technology COM 00761E108 532,700 3,756 X 532,700 0 0 Affordable Residential Communities REIT 008273104 2,436,000 32,521 X 2,436,000 0 0 Agree Realty Corporation COM 008492100 41,900 1,267 X 41,900 0 0 Agrium, Inc. COM 8916108 3,856,900 75,634 X 3,784,875 0 72,025 Alamo Group, Inc. COM 011311107 3,112,009 58,101 X 2,313,050 0 798,959 Alexander & Baldwin, Inc. COM 014482103 1,951,440 90,449 X 1,951,440 0 0 Alico, Inc. COM 016230104 295,975 15,222 X 295,975 0 0 Ambac Financial Group COM 023139108 496,865 34,661 X 488,125 0 8,740 American Axle & Manufacturing Holdings In COM 024061103 998,400 25,230 X 998,400 0 0 American Financial Realty Trust SBI 02607P305 3,259,850 50,136 X 3,258,800 0 1,050 American Land Lease Inc. COM 027118108 688,458 15,084 X 685,008 0 3,450 American Power Conversion Corp COM 029066107 4,946,054 116,677 X 4,865,725 0 80,329 Analogic Corporation COM 032657207 102,400 5,153 X 98,200 0 4,200 Anthracite Capital Inc. COM 037023108 1,190,825 14,111 X 1,190,825 0 0 Applied Materials, Inc. COM 038222105 2,249,723 36,401 X 2,151,154 0 98,569 Arch Capital Group Ltd. COM G0450A105 1,937,877 87,301 X 1,895,177 0 42,700 Associated Estates Realty Corporation COM 045604105 1,896,825 17,508 X 1,896,825 0 0 Astoria Financial Corp. COM 046265104 159,000 4,527 X 159,000 0 0 Avatar Holdings Inc. COM 053494100 738,865 37,143 X 736,165 0 2,700 AVX Corp. COM 002444107 16,679,27 202,153 X 14,695,59 0 1,983,68 Banco Latinoamericano Exportaciones, S.A. COM P16994132 285,000 5,116 X 285,000 0 0 Bandag, Incorporated COM 059815100 507,125 23,353 X 492,725 0 14,400 BankAtlantic Bankcorp, Inc. CL A 065908501 835,000 15,823 X 835,000 0 0 Bedford Property Investors CL A 076446301 78,450 1,806 X 78,450 0 0 BelFuse Inc. CL B CL B 077347300 939,878 28,723 X 933,728 0 6,150 BelFuse Inc. CL. A CL A 077347201 290,438 7,461 X 290,438 0 0 Berkshire Hills Bancorp Inc. COM 084680107 390,800 13,021 X 390,800 0 0 BPP Liquidating Trust COM 12232C108 959,000 86 X 959,000 0 0 Brascan Corporation CL A 10549P606 10,475,87 399,759 X 10,355,30 0 120,568 British Land Company PLC ORD 0136701 3,180,903 49,940 X 3,180,903 0 0 Brookfield Homes Corp COM 112723101 313,225 14,283 X 312,105 0 1,120 Brookfield Properties COM 112900105 2,785,000 80,208 X 2,779,900 0 5,100 Brookline Bancorp, Inc. COM 11373M107 4,161,665 67,669 X 3,961,215 0 200,450 California First National Bank COM 130222102 75,000 841 X 75,000 0 0 Canadian Natural Resources COM 136385101 743,600 27,052 X 723,950 0 19,650 Canfor Corporation COM 2173416 3,411,850 40,942 X 3,411,850 0 0 Capital Lease Funding Inc. COM 140288101 893,700 9,697 X 893,700 0 0 Capital Southwest COM 140501107 268,111 24,042 X 263,216 0 4,895 Carver Bancorp, Inc. COM 146875109 218,500 3,719 X 218,500 0 0 Catellus Development Corp. COM 149113102 8,975,240 294,388 X 8,234,875 0 740,365 Cavco Industries, Inc. COM 149568107 312,720 8,812 X 312,720 0 0 Cementos Argos SA COM 2184173 394,963 4,277 X 394,963 0 0 CIE Generale De Geophysique ORD 4215394 377,602 31,987 X 351,402 0 26,200 CIT Group Inc. COM 125581108 1,070,540 46,001 X 624,510 0 446,030 Coachman Industries, Inc. COM 189873102 324,600 4,067 X 324,600 0 0 Coherent Inc. COM 192479103 900,737 32,436 X 900,737 0 0 Commercial Federal Corp. COM 201647104 61,543 2,073 X 61,543 0 0 Commscope, Inc. COM 203372107 2,851,425 49,643 X 2,813,075 0 38,350 Compagnie Generale de Geophysique -SP ADR ADR 204386106 193,400 3,259 X 193,400 0 0 Comstock Resources, Inc. COM 205768203 890,800 22,528 X 890,800 0 0 Comverse Technology, Inc. COM 205862402 3,941,278 93,211 X 3,863,378 0 77,900 Concord Camera Corp. COM 206156101 350,000 438 X 350,000 0 0 Consolidated Tomoka Land Company COM 210226106 654,160 56,258 X 651,885 0 2,275 Credence Systems COM 225302108 7,081,941 64,092 X 6,690,466 0 391,475 Cresud S.A. ADR ADR 226406106 281,836 3,424 X 281,836 0 0 Cresud SA Comericial Ind WTS WTS P3311R150 200,000 238 X 200,000 0 0 Criimi Mae Inc. COM 226603504 1,227,469 26,820 X 1,224,769 0 2,700 Cross Country Healthcare Inc. COM 227483104 3,209,532 54,562 X 3,114,032 0 95,500 CRT Properties Inc COM 22876P109 2,641,336 72,108 X 2,633,711 0 7,625 Danielson Holding Corp. COM 236274106 8,816,889 107,302 X 8,816,889 0 0 Datascope Corp. COM 238113104 384,586 12,826 X 375,624 0 8,962 Del Monte Pacific Ltd. ORD 6168485 18,053,00 6,499 X 18,053,00 0 0 Deltic Timber COM 247850100 402,950 15,324 X 402,950 0 0 Dress Barn, Inc. COM 261570105 1,144,985 25,911 X 1,144,985 0 0 Electro Scientific Industries, Inc. COM 285229100 4,137,504 73,979 X 3,997,042 0 140,462 Electronics for Imaging COM 286082102 3,838,202 80,756 X 3,698,877 0 139,325 Encana Corp. COM 292505104 3,282,196 129,942 X 2,333,571 0 948,625 ESG Re Limited COM G31215109 118,449 18 X 118,449 0 0 Fairmont Hotels & Resorts Inc COM 305204109 1,618,600 56,376 X 1,616,850 0 1,750 FBL Financial Group, Inc. CL A 30239F106 472,500 13,046 X 472,500 0 0 Feldman Mall Properties, Inc. COM 314308107 350,000 4,883 X 350,000 0 0 First Potomac Realty Trust SBI 33610F109 568,300 14,094 X 567,400 0 900 Florida East Coast Industries, Inc. COM 340632108 55,032 2,383 X 55,032 0 0 Fording Canadian Coal Trust UNIT 345425102 698,807 64,430 X 698,807 0 0 Forest City Enterprise Cl A CL A 345550107 6,909,347 490,564 X 6,346,620 0 562,727 Forest City Enterprise Cl B CL B 345550305 14,675 1,036 X 14,675 0 0 FSI International, Inc. COM 302633102 200,688 747 X 190,938 0 9,750 GEAC Computer Corp Ltd. COM 368289104 4,745,527 41,286 X 4,443,727 0 301,800 Gemstar-TV Guide International, Inc. COM 36866W106 80,307 288 X 80,307 0 0 Golar LNG LTD COM 7139695 1,886,600 22,526 X 1,886,600 0 0 Haynes International Inc. COM 420877201 445,714 7,800 X 445,714 0 0 Herley Industries, Inc. COM 427398102 527,236 9,617 X 527,236 0 0 Hutchinson Technology Inc. COM 448407106 458,966 17,675 X 458,966 0 0 Industrias Bachoco, S.A. DE C.V. ADR 456463108 610,000 10,065 X 610,000 0 0 Ingram Micro Inc. COM 457153104 748,300 11,718 X 748,300 0 0 Instinet Group Inc. COM 457750107 15,871,67 83,168 X 14,410,74 0 1,460,92 Investment Technology Group. COM 46145F105 132,800 2,791 X 132,800 0 0 Irsa Inversiones COM 450047204 400,000 4,880 X 400,000 0 0 Jakks Pacific, Inc. COM 47012E106 3,666,821 70,440 X 3,572,702 0 94,119 Jefferies Group COM 472319102 451,030 17,090 X 451,030 0 0 Jones Lang Lasalle COM 48020Q107 1,554,100 68,738 X 1,554,100 0 0 Kemet Corporation COM 488360108 1,312,753 8,270 X 1,253,893 0 58,860 K-Swiss Incl Cl A CL A 482686102 925,658 29,936 X 925,658 0 0 Leapfrog Enterprises Inc. CL A 52186N106 4,662,325 52,684 X 4,464,175 0 198,150 Legg Mason Inc. COM 524901105 2,490,714 259,308 X 2,435,631 0 55,083 Leucadia National Corp. COM 527288104 726,025 28,046 X 724,875 0 1,150 Levitt Corporation CL A 52742P108 208,750 6,246 X 208,750 0 0 Lindsay Manufacturing Co. COM 535555106 1,111,000 26,197 X 1,111,000 0 0 Magma Design Automation, Inc. COM 559181102 625,163 5,226 X 625,163 0 0 Maverick Tube Corp. COM 577914104 795,700 23,712 X 795,700 0 0 MBIA Inc. COM 55262C100 4,051,589 240,300 X 4,013,203 0 38,386 Mestek Inc. COM 590829107 360,100 9,179 X 360,100 0 0 Millea Holdings, Inc. ADR ADR 60032R106 3,243,824 218,342 X 3,185,604 0 58,220 Montpelier Re Holdings Ltd. COM G62185106 732,500 25,330 X 732,500 0 0 Nabors Industries COM G6359F103 1,609,002 97,538 X 1,576,823 0 32,179 National Western Life Insurance Co. CL A 638522102 113,506 22,008 X 113,506 0 0 NewAlliance Bancshares, Inc. COM 650203102 5,595,095 78,611 X 5,335,857 0 259,238 Noranda Inc. COM 655422103 1,028,200 17,788 X 1,028,200 0 0 Nortel Inversora-ADR PFD B ADR 656567401 329,100 3,238 X 329,100 0 0 Northern Orion Resources, Inc. COM 2820507 230,000 568 X 230,000 0 0 NTL Inc. COM 62940M104 11,500 787 X 11,500 0 0 Nuveen Investments, Inc., CL A CL A 67090F106 489,900 18,430 X 489,900 0 0 On Assignment, Inc. COM 682159108 319,271 1,590 X 319,271 0 0 One Liberty Properties COM 682406103 1,001,100 20,733 X 1,000,500 0 600 Origen Financial Inc. COM 68619E208 1,797,559 13,302 X 1,741,909 0 55,650 Parexel International Corp COM 699462107 3,907,662 77,567 X 3,763,522 0 144,140 Park Electrochemical Corp. COM 700416209 965,900 24,341 X 965,900 0 0 Pfizer Inc. COM 717081103 188,140 5,189 X 188,140 0 0 Pharmaceutical Product Dev. Inc. COM 717124101 934,263 43,780 X 934,263 0 0 PHH Corporation COM 693320202 548,900 14,118 X 548,900 0 0 Pogo Producing Co COM 730448107 1,301,250 67,561 X 1,301,250 0 0 Posco ADR ADR 693483109 4,338,100 190,746 X 3,862,025 0 476,075 Precision Drilling Corp COM 74022D100 487,400 19,243 X 487,400 0 0 Prime Group Realty Trust COM 74158J103 628,900 4,541 X 628,900 0 0 Prologis Trust SBI 743410102 2,619,298 105,401 X 2,616,828 0 2,470 PS Business Parks, Inc. COM 69360J107 1,900,425 84,474 X 1,899,075 0 1,350 Quanta Services, Inc. COM 74762E102 7,101,366 62,492 X 7,101,366 0 0 Radian Group Inc. COM 750236101 2,371,515 111,983 X 2,330,569 0 40,946 Rait Investment Trust SBI 749227104 269,000 8,057 X 269,000 0 0 Raymond James Financial COM 754730109 1,634,646 46,179 X 1,634,646 0 0 RTI International Metals, Inc. COM 74973W107 263,100 8,264 X 263,100 0 0 Russ Berrie and Company, Inc. COM 782233100 3,373,785 43,218 X 3,250,635 0 123,150 Safety Insurance Group, Inc. COM 78648T100 175,000 5,908 X 175,000 0 0 Scientific-Atlanta, Inc. COM 808655104 212,500 7,070 X 212,500 0 0 Sears Holdings Corporation COM 812350106 2,113,689 315,730 X 2,113,689 0 0 Skyline Corporation COM 830830105 287,800 11,492 X 287,800 0 0 Smedvig ASA-A CL A 4564665 3,211,200 65,123 X 3,125,125 0 86,075 Smedvig ASA-Sponsored ADR ADR 83169H105 219,025 4,402 X 219,025 0 0 Spirit Finance Corp. COM 848568309 10,900 128 X 10,900 0 0 St. Jude Medical Inc. COM 790849103 363,000 15,830 X 363,000 0 0 St. Mary Land & Exploration COM 792228108 1,839,600 53,312 X 1,839,600 0 0 Standex International Corp COM 854231107 480,500 13,651 X 480,500 0 0 Stewart Information Services COM 860372101 479,800 20,152 X 479,800 0 0 Stolt Offshore S.A. ADR ADR 861567105 637,850 5,785 X 593,228 0 44,622 Suncor Energy Inc. COM 867229106 1,189,875 56,305 X 1,166,025 0 23,850 Superior Industries International, Inc. COM 868168105 4,402,773 104,346 X 4,249,461 0 153,312 SWS Group Inc. COM 78503N107 187,590 3,223 X 187,590 0 0 Sybase Inc. COM 871130100 598,700 10,986 X 598,700 0 0 Sycamore Networks, Inc. COM 871206108 19,128,17 65,992 X 18,411,87 0 716,300 Synopsys Inc. COM 871607107 1,410,336 23,510 X 1,410,336 0 0 TD Banknorth Inc. COM 87235A101 34,087 1,016 X 34,087 0 0 Technitrol, Inc. COM 878555101 115,000 1,625 X 115,000 0 0 Tejon Ranch Co. COM 879080109 4,388,931 225,898 X 4,384,978 0 3,953 Telecom Corp of New Zealand ADR ADR 879278208 164,250 5,517 X 164,250 0 0 Telecom Corp of New Zealand ORD COM 6881436 13,626,26 56,958 X 12,944,65 0 681,609 Tellabs, Inc. COM 879664100 10,755,56 93,573 X 10,300,36 0 455,200 The Buckle, Inc. COM 118440106 129,500 5,742 X 129,500 0 0 The First American Corporation COM 318522307 1,048,800 42,099 X 1,048,800 0 0 The Keith Companies, Inc. COM 487539108 597,583 12,956 X 597,583 0 0 The Phoenix Companies COM 71902E109 4,619,815 54,976 X 4,607,130 0 12,685 The St. Joe Company COM 790148100 7,812,515 637,032 X 7,746,115 0 66,400 Thomas Properties Group INC COM 884453101 2,252,125 28,174 X 2,246,075 0 6,050 Tidewater Inc. COM 886423102 804,300 30,660 X 804,300 0 0 Tompkins Trustco Inc. COM 890110109 49,731 2,158 X 49,731 0 0 Toronto-Dominion Bank COM 891160509 16,354 730 X 16,354 0 0 Trammell Crow Company COM 89288R106 6,630,307 160,719 X 6,625,907 0 4,400 Trinity Industries COM 896522109 1,550,905 49,675 X 1,536,930 0 13,975 Triquint Semiconductor, Inc. COM 89674K103 500,600 1,667 X 500,600 0 0 TXU Corp. COM 873168108 400,000 33,236 X 400,000 0 0 Unite Group plc COM 0692861 7,306,548 38,432 X 7,301,948 0 4,600 Valuevision International COM 92047K107 120,000 1,441 X 120,000 0 0 Vishay Intertecnology, Inc. COM 928298108 590,442 7,009 X 586,442 0 4,000 Vornado Realty Trust SBI 929042109 1,566,925 125,981 X 1,565,650 0 1,275 Wellsford Real Properties, Inc. COM 950240200 1,545,700 27,405 X 1,545,700 0 0 Westwood Holdings Group Inc. COM 961765104 902,371 16,152 X 902,371 0 0 White Mountains Insurance Group COM G9618E107 61,650 38,895 X 61,650 0 0 Whiting Petroleum Corporation COM 966387102 2,093,600 76,019 X 2,076,925 0 16,675 Willbros Group, Inc. COM 969199108 1,640,163 23,487 X 1,639,500 0 663