THIRD AVENUE TRUST
NSAR-A, 1998-06-26
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<PAGE>      PAGE  1
000 A000000 04/30/98
000 C000000 0001031661
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0
000 J000000 A
001 A000000 THIRD AVENUE TRUST
001 B000000 811-08039
001 C000000 2128886685
002 A000000 767 THIRD AVENUE
002 B000000 NEW YORK
002 C000000 NY
002 D010000 10017
002 D020000 2023
003  000000 N
004  000000 N
005  000000 N
006  000000 N
007 A000000 Y
007 B000000  3
007 C010100  1
007 C020100 THIRD AVENUE VALUE FUND
007 C030100 N
007 C010200  2
007 C020200 THIRD AVENUE SMALL-CAP VALUE FUND
007 C030200 N
007 C010300  3
007 C020300 THIRD AVENUE HIGH YIELD FUND
007 C030300 N
007 C010400  4
007 C010500  5
007 C010600  6
007 C010700  7
007 C010800  8
007 C010900  9
007 C011000 10
008 A00AA01 EQSF ADVISERS, INC.
008 B00AA01 A
008 C00AA01 801-27792
008 D01AA01 NEW YORK
008 D02AA01 NY
008 D03AA01 10017
008 D04AA01 2023
010 A00AA01 FIRST DATA INVESTOR SERVICES GROUP, INC.
010 C01AA01 KING OF PRUSSIA
010 C02AA01 PA
010 C03AA01 19406
010 C04AA01 0903
<PAGE>      PAGE  2
011 A00AA01 DELETE
012 A00AA01 FIRST DATA INVESTOR SERVICES GROUP, INC.
012 B00AA01 84-1761
012 C01AA01 KING OF PRUSSIA
012 C02AA01 PA
012 C03AA01 19406
012 C04AA01 0903
013 A00AA01 PRICE WATERHOUSE LLP
013 B01AA01 NEW YORK
013 B02AA01 NY
013 B03AA01 10036
014 A00AA01 M.J. WHITMAN, INC.
014 B00AA01 8-43018
018  00AA00 Y
019 A00AA00 N
019 B00AA00    0
020 A000001 M.J. WHITMAN, INC.
020 B000001 13-3796763
020 C000001    599
020 A000002 INSTINET CORPORATION
020 B000002 13-3443395
020 C000002    108
020 A000003 TORONTO DOMINION SECURITIES, INC.
020 B000003 22-2203727
020 C000003     42
020 A000004 M.J. WHITMAN SENIOR DEBT CORP.
020 B000004 13-3608081
020 C000004     39
020 A000005 AMROC SECURITIES CORP.
020 B000005 59-1237041
020 C000005     27
020 A000006 SCOTT & STRINGFELLOW, INC.
020 B000006 54-0957557
020 C000006      4
020 A000007 BEAR STEARNS & CO.
020 B000007 13-3299429
020 C000007      4
020 A000008 CANTOR FITZGERALD & CO.
020 B000008 13-3680184
020 C000008      1
020 A000009 PAINEWEBBER, INC.
020 B000009 13-2638166
020 C000009      1
020 A000010 UNQUOWA
020 C000010      1
021  000000      826
022 A000001 FUJI SECURITIES INC.
022 B000001 36-2880742
022 C000001    254729
022 D000001    130280
022 A000002 SMITH BARNEY, INC.
<PAGE>      PAGE  3
022 B000002 13-1912900
022 C000002     82386
022 D000002    138733
022 A000003 BEAR, STEARNS & CO., INC.
022 B000003 13-3299429
022 C000003     27819
022 D000003     46623
022 A000004 NOMURA SECURITIES INTERNATIONAL, INC.
022 B000004 13-2642206
022 C000004     77046
022 D000004         0
022 A000005 PRUDENTIAL BACHE SECURITIES, INCORPORATED
022 B000005 22-2347336
022 C000005         0
022 D000005     46478
022 A000006 SHERWOOD SECURITIES CORP.
022 B000006 13-2616318
022 C000006     25445
022 D000006         0
022 A000007 KNIGHT SECURITIES, INC.
022 B000007 13-3224016
022 C000007     22209
022 D000007        41
022 A000008 MORGAN (J.P.) SECURITIES, INC.
022 B000008 13-3224016
022 C000008     10425
022 D000008         0
022 A000009 BLACK & COMPANY, INC.
022 B000009 93-0479581
022 C000009     10219
022 D000009         0
022 A000010 OPPENHEIMER & CO.
022 B000010 13-2798343
022 C000010      9101
022 D000010         0
023 C000000     558990
023 D000000     389000
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<PAGE>      PAGE  5
054 I00AA00 N
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<PAGE>      PAGE  8
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<PAGE>      PAGE  10
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<PAGE>      PAGE  12
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SIGNATURE   MICHELLE WHALEN                              
TITLE       COMPLIANCE ADMIN    
 


<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0001031661
<NAME> THIRD AVENUE TRUST
<SERIES>
   <NUMBER> 3
   <NAME> THIRD AVENUE HIGH YIELD FUND
<MULTIPLIER> 1
       
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