The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE
OMB APPROVAL
OMB Number: 3235-0006
Estimated average burden
hours per response: 23.8
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
AMERICAN TEL & TEL COM 30177109 603,675 16,358 SH   SOLE   16,358 0 0
ASTORIA FINANCIAL COM 46265104 244,407 17,685 SH   SOLE   17,685 0 0
ASTEC INDUS COM 46224101 526,920 12,000 SH   SOLE   12,000 0 0
BANK OF AMERICA COM 60505104 980,761 57,021 SH   SOLE   57,021 0 0
BP PLC COM 55622104 41,359,026 859,855 SH   SOLE   859,855 0 0
BRISTOL MYERS SQUIBB COM 110122108 1,540,318 29,650 SH   SOLE   29,650 0 0
BLACKBERRY COM 09228F103 3,636,000 450,000 SH   SOLE   450,000 0 0
CITIGROUP COM 172967101 58,684,802 1,232,874 SH   SOLE   1,232,874 0 0
CHEVRONTEXACO COM 166764100 807,161 6,788 SH   SOLE   6,788 0 0
COMCAST CL A COM 20030N101 1,225,687 24,494 SH   SOLE   24,494 0 0
CTM MEDIA CL A COM 22944D104 799,488 10,415 SH   SOLE   10,415 0 0
EXXON MOBILE COM 30231G102 1,778,948 18,212 SH   SOLE   18,212 0 0
FIRST NIAGARA FINANCIAL COM 33582V108 1,381,487 146,189 SH   SOLE   146,189 0 0
FLUSHING FINANCIAL COM 343873105 213,207 10,119 SH   SOLE   10,119 0 0
GENERAL ELECTRIC COM 369604103 388,350 15,000 SH   SOLE   15,000 0 0
GENIE ELECTRIC COM 903514344 6,581,277 660,108 SH   SOLE   660,108 0 0
HOLOGIC COM 436440101 33,475,049 1,556,979 SH   SOLE   1,556,979 0 0
IBM COM 459200101 631,945 3,283 SH   SOLE   3,283 0 0
IDT CORP CL B COM 448847309 11,157,052 669,691 SH   SOLE   669,691 0 0
KEYCORP NEW COM 493267108 264,423 18,569 SH   SOLE   18,569 0 0
LANDMARK SAVINGS BANK COM 514928100 1,413,269 72,364 SH   SOLE   72,364 0 0
MERCK COM 589331107 64,060,112 1,128,415 SH   SOLE   1,128,415 0 0
MONSANTO COM 66166W101 1,012,331 8,898 SH   SOLE   8,898 0 0
MBIA COM 55262C100 35,551,934 2,541,239 SH   SOLE   2,541,239 0 0
NAM TAI ELECT COM 629865205 22,240,066 3,775,903 SH   SOLE   3,775,903 0 0
NEW YORK COMMUNITY COM 649445103 60,721,477 3,778,561 SH   SOLE   3,778,561 0 0
NEWMARKET GROUP COM 651587107 390,780 1,000 SH   SOLE   1,000 0 0
NOVARTIS ADR COM 66987V109 2,386,341 28,068 SH   SOLE   28,068 0 0
NY TIMES CL A COM 650111107 81,644,613 4,768,961 SH   SOLE   4,768,961 0 0
OLD REPUBLIC COM 680223104 44,762,824 2,729,441 SH   SOLE   2,729,441 0 0
PHI INC NON-VOTING COM 716604202 1,251,107 28,280 SH   SOLE   28,280 0 0
PFIZER COM 717081103 67,863,753 2,112,819 SH   SOLE   2,112,819 0 0
PATTERSON ENERGY COM 703481101 41,772,995 1,318,592 SH   SOLE   1,318,592 0 0
QUESTAR CORP COM 748356102 379,291 15,950 SH   SOLE   15,950 0 0
SEABOARD CORP COM 811543107 30,180,754 11,513 SH   SOLE   11,513 0 0
SLM CORP COM 78443P106 22,747,672 929,235 SH   SOLE   929,235 0 0
STRAIGHT PATH COMM COM 862578101 2,150,758 336,274 SH   SOLE   336,274 0 0
STERLING BANCORP COM 85917A100 16,918,323 1,336,371 SH   SOLE   1,336,371 0 0
TRINITY PLACE HOLDINGS COM 89656D101 7,497,269 1,199,563 SH   SOLE   1,199,563 0 0
USG INC COM 903293405 621,680 19,000 SH   SOLE   19,000 0 0
VOXX INTERNATIONAL COM 91829F104 28,499,462 2,083,294 SH   SOLE   2,083,294 0 0
VOLVO COM 928856400 158,560 10,000 SH   SOLE   10,000 0 0