13F-HR 1 fw120613f.txt FW 13F Q4 06 United States Securities and Exchange Commission Form 13F Form 13F Cover Page Report for the Calendar Year or Quarter Ended: December 31, 2006 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: First Wilshire Securities Management, Inc. Address: 1224 East Green Street, Suite 200 Pasadena, CA 91106 13F File Number: 028-00983 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: Mitchell W. Howard Title: V.P., Chief Compliance Officer Phone: (800) 858-0679 Signature, Place, and Date of Signing: /s/ Mitchell W. Howard Pasadena, CA February 14, 2007 Report Type (Check only one) : [X] 13F HOLDINGS REPORT [ ] 13F NOTICE [ ] 13F COMBINATION REPORT List of Other Managers Reporting for this Manager: -------------------------------------------------- I am signing this report as required by the Securities Exchange Act of 1934. FORM 13F SUMMARY PAGE Report Summary: Number of Other Included Managers: None Form 13F Information Table Entry Totals: Form 13F Information Table Value Total: List of Other Included Managers: No. 13F File Number Name None Total Value in Table ($'000): $404,194 VALUE SHRS OR SH/ NAME OF ISSUER TITLE CUSIP (X$1000PRN AMT PRN 21st Century Hldg Co Warrant WRNT 90136Q134 439 42,575 SH 21st Century Hldg Co COM 90136Q100 19,892 837,602 SH Abx Air Inc COM 00080S101 423 60,990 SH Agco Corp COM 001084102 1,488 48,100 SH Allied Capital Corp New COM 01903Q108 5,698 174,360 SH Amcomp Inc COM 02342J101 611 55,556 SH American Intl Group COM 026874107 588 8,200 SH American Physicians COM 028882108 1,885 117,795 SH Amerisafe Inc COM 03071H100 2,319 150,000 SH Andersons Inc COM 034164103 7,878 185,856 SH Aquila Inc COM 03840P102 47 10,000 SH Aspreva Pharmaceuticals COM 04538T109 620 30,218 SH Asta Funding Inc COM 046220109 15,951 524,015 SH AT & T Inc. COM 00206R102 528 14,769 SH Atlantic Tele Network COM 049079205 14,761 503,777 SH Axesstel Inc COM 05459T101 104 53,500 SH BeniHana COM 082047101 291 9,200 SH Carriage Services Inc COM 143905107 6,7811,332,14 SH Cash America Intl Inc COM 14754D100 9,464 201,800 SH Center Finl Corp Calif COM 15146E102 292 12,186 SH China Bak Battery, Inc COM 16936Y100 311 47,629 SH China Fund Inc. COM 169373107 2,593 75,853 SH Chindex Intl Inc COM 169467107 2,477 131,342 SH Cleco Corp New COM 12561W105 278 11,000 SH Conocophillips COM 20825C104 2,649 36,820 SH Consumer Port Svcs Inc COM 210502100 172 26,400 SH Direct General Corp COM 25456W204 27,2381,319,64 SH Dorman Products Inc COM 258278100 687 63,400 SH Dow Chemical Co. COM 260543103 4,956 124,202 SH DTE Energy Co Hldgs. COM 233331107 7,622 157,453 SH Duke Energy Corp COM 26441C105 2,640 79,500 SH East West Bancorp Inc COM 27579R104 3,312 93,495 SH Edison International COM 281020107 227 5,000 SH EFJ Inc COM 26843B101 388 57,500 SH Embarq Corp COM 29078E105 1,296 24,650 SH Endurance Speciality Hold COM G30397106 20,528 561,189 SH Enterprise Products Partn COM 293792107 304 10,498 SH Eplus Inc COM 294268107 546 52,250 SH Express 1 Expedited in So COM 30217Q108 115 90,500 SH Ezcorp Inc COM 302301106 2,683 165,102 SH First Cash Financial Serv COM 31942D107 2,101 81,200 SH Friedman Billings Ramsey COM 358434108 5,059 632,433 SH Gander Mountain Company COM 36471P108 1,028 113,890 SH GATX Corp COM 361448103 1,661 38,325 SH Geo Group Inc COM 36159R103 416 11,100 SH Great American Finl Res I COM 389915109 908 39,400 SH Greater Bay Bancorp COM 391648102 250 9,500 SH Greater China Fund Inc. COM 39167B102 10,071 319,926 SH Halifax Corp COM 405752106 101 40,600 SH Hanmi Bank COM 410495105 2,729 121,128 SH Healthcare Svcs Group COM 421906108 340 11,749 SH Helen Of Troy Ltd COM G4388N106 976 40,237 SH Humana Inc COM 444859102 958 17,325 SH Hungarian Tel & Cable Cor COM 445542103 6,297 416,993 SH Imax Corp. COM 45245E109 8,0992,153,90 SH Innospec Inc COM 45768S105 6,664 143,150 SH Intl Absorbents Inc New COM 45885E203 2,215 543,200 SH ITLA Capital Corp COM 450565106 967 16,700 SH Itron Corp. COM 465741106 3,693 71,240 SH Jakks Pacific COM 47012E106 651 29,798 SH Japan Equity Fund Inc COM 471057109 229 27,000 SH Japan Smaller Capitalizat COM 47109U104 238 18,498 SH Jinpan Intl Ltd COM G5138L100 10,084 417,729 SH Korean Equity Fd COM 50063B104 355 31,000 SH Korean Fund COM 500634100 468 13,700 SH Landec Corp COM 514766104 1,133 105,273 SH Landry's Restaurant Inc COM 51508L103 418 13,900 SH Lannett Company COM 516012101 69 11,000 SH Lo Jack Corp. COM 539451104 667 39,032 SH Lone Star Tech COM 542312103 3,207 66,250 SH Lyondell Chemical Corp COM 552078107 6,704 262,172 SH Malaysia Fund Inc COM 560905101 196 27,600 SH Management Network Grp COM 561693102 16 10,000 SH MCG Capital Corp. COM 58047P107 7,998 393,607 SH MDU Resources Group Inc COM 552690109 7,521 293,327 SH Methanex Corp COM 59151K108 3,830 139,945 SH MetLife Inc COM 59156R108 1,168 19,800 SH MFRI Inc COM 552721102 682 34,642 SH Michael Baker Corp COM 057149106 260 11,500 SH Micro Financial Inc. COM 595072109 945 242,900 SH Mirant Corp. COM 60467R100 17 12,000 SH Mitcham Inds. Inc. COM 606501104 7,084 592,783 SH Mobile Mini Inc. COM 60740F105 1,768 65,630 SH Monsanto COM 61166W101 788 15,000 SH Montpelier Re Holdings Lt COM G62185106 2,580 138,650 SH National Atlantic Holding COM 63253Y107 395 33,900 SH Natl Western Life Ins COM 638522102 731 3,175 SH New Ireland Fd Inc COM 645673104 261 7,092 SH New Market Corp. COM 651587107 691 11,700 SH Nicholas Finl COM 65373J209 286 24,225 SH Nokia Corp Spons COM 654902204 356 17,500 SH Northern Technologies Int COM 665809109 260 30,200 SH Oriental Financial Group COM 68618W100 237 18,300 SH Overhill Farms COM 690212105 885 311,661 SH Owens Ill Inc Conv Pfd PFD 690768502 544 14,700 SH Owens Illinois Inc COM 690768403 3,344 181,250 SH Pain Care Holdings Inc COM 69562E104 128 116,000 SH Paula Financial Del COM 703588103 472 202,775 SH Perma Fix Environmental COM 714157104 96 41,250 SH Pfizer Inc COM 717081103 3,021 116,650 SH PMA Cap Corp Cl A COM 693419202 308 33,400 SH Pro-Dex Inc Colo COM 74265M106 2,3511,621,63 SH Proliance Intl Inc COM 74340R104 421 93,300 SH Q.E.P. CO INC COM 74727K102 1,806 308,731 SH Renaissance Re Holdings L COM G7496G103 25,092 418,195 SH Rent A Center Inc COM 76009N100 21,918 742,743 SH River City Bank Mechanics COM 768037103 157 15,000 SH Seabright Insurance Holdi COM 811656107 3,627 201,400 SH Seagate Technologies COM G7945J104 11,147 420,625 SH Service Corp Intl. COM 817565104 11,7461,145,99 SH Singapore Fd COM 82929L109 1,062 67,400 SH Stonemor Partners Ltd Par COM 86183Q100 998 39,900 SH Tag-it Pac Inc COM 873774103 244 237,000 SH Telestone Technologies Co COM 87953J102 555 67,635 SH Thai Capital Fund COM 882905201 2,851 254,311 SH Tupperware Corp. COM 899896104 17,054 754,261 SH UCBH Holdings Inc COM 90262T308 1,350 76,897 SH Veri-Tek International In COM 92342X101 1,518 280,000 SH Visiphor Corporation COM 92833P104 1 10,000 SH Vita Foods Products Inc COM 928450105 49 25,000 SH Waste Industries USA, Inc COM 941057101 244 8,000 SH Wilshire Bancorp COM 97186T108 3,300 173,985 SH INVESTMEN OTHER VOTING AUTHORITY NAME OF ISSUER DISCRETIO MANAGERS SOLE SHARED NONE 21st Century Hldg Co Warrant SOLE 42,525 50 21st Century Hldg Co SOLE 136,171 701,431 Abx Air Inc SOLE 24,990 36,000 Agco Corp SOLE 0 48,100 Allied Capital Corp New SOLE 27,600 146,760 Amcomp Inc SOLE 55,556 0 American Intl Group SOLE 8,200 0 American Physicians SOLE 0 117,795 Amerisafe Inc SOLE 95,000 55,000 Andersons Inc SOLE 11,400 174,456 Aquila Inc SOLE 0 10,000 Aspreva Pharmaceuticals SOLE 0 30,218 Asta Funding Inc SOLE 15,542 508,473 AT & T Inc. SOLE 3,621 11,148 Atlantic Tele Network SOLE 50,477 453,300 Axesstel Inc SOLE 53,500 0 BeniHana SOLE 0 9,200 Carriage Services Inc SOLE 100,000 1,232,140 Cash America Intl Inc SOLE 25,000 176,800 Center Finl Corp Calif SOLE 0 12,186 China Bak Battery, Inc SOLE 47,629 0 China Fund Inc. SOLE 500 75,353 Chindex Intl Inc SOLE 69,562 61,780 Cleco Corp New SOLE 0 11,000 Conocophillips SOLE 22,420 14,400 Consumer Port Svcs Inc SOLE 1,700 24,700 Direct General Corp SOLE 124,975 1,194,672 Dorman Products Inc SOLE 8,400 55,000 Dow Chemical Co. SOLE 8,200 116,002 DTE Energy Co Hldgs. SOLE 14,400 143,053 Duke Energy Corp SOLE 19,500 60,000 East West Bancorp Inc SOLE 0 93,495 Edison International SOLE 5,000 0 EFJ Inc SOLE 4,000 53,500 Embarq Corp SOLE 0 24,650 Endurance Speciality Hold SOLE 89,475 471,714 Enterprise Products Partn SOLE 10,498 0 Eplus Inc SOLE 0 52,250 Express 1 Expedited in So SOLE 90,500 0 Ezcorp Inc SOLE 600 164,502 First Cash Financial Serv SOLE 400 80,800 Friedman Billings Ramsey SOLE 1,000 631,433 Gander Mountain Company SOLE 4,690 109,200 GATX Corp SOLE 0 38,325 Geo Group Inc SOLE 1,500 9,600 Great American Finl Res I SOLE 0 39,400 Greater Bay Bancorp SOLE 1,000 8,500 Greater China Fund Inc. SOLE 12,699 307,227 Halifax Corp SOLE 10,600 30,000 Hanmi Bank SOLE 0 121,128 Healthcare Svcs Group SOLE 337 11,412 Helen Of Troy Ltd SOLE 0 40,237 Humana Inc SOLE 500 16,825 Hungarian Tel & Cable Cor SOLE 37,258 379,735 Imax Corp. SOLE 192,554 1,961,349 Innospec Inc SOLE 9,500 133,650 Intl Absorbents Inc New SOLE 16,300 526,900 ITLA Capital Corp SOLE 0 16,700 Itron Corp. SOLE 3,121 68,119 Jakks Pacific SOLE 20,075 9,723 Japan Equity Fund Inc SOLE 0 27,000 Japan Smaller Capitalizat SOLE 7,333 11,165 Jinpan Intl Ltd SOLE 8,800 408,929 Korean Equity Fd SOLE 2,000 29,000 Korean Fund SOLE 0 13,700 Landec Corp SOLE 12,000 93,273 Landry's Restaurant Inc SOLE 0 13,900 Lannett Company SOLE 11,000 0 Lo Jack Corp. SOLE 3,000 36,032 Lone Star Tech SOLE 650 65,600 Lyondell Chemical Corp SOLE 18,500 243,672 Malaysia Fund Inc SOLE 2,000 25,600 Management Network Grp SOLE 10,000 0 MCG Capital Corp. SOLE 86,910 306,697 MDU Resources Group Inc SOLE 36,600 256,727 Methanex Corp SOLE 20,460 119,485 MetLife Inc SOLE 13,800 6,000 MFRI Inc SOLE 0 34,642 Michael Baker Corp SOLE 1,000 10,500 Micro Financial Inc. SOLE 0 242,900 Mirant Corp. SOLE 0 12,000 Mitcham Inds. Inc. SOLE 41,845 550,938 Mobile Mini Inc. SOLE 10,030 55,600 Monsanto SOLE 0 15,000 Montpelier Re Holdings Lt SOLE 300 138,350 National Atlantic Holding SOLE 0 33,900 Natl Western Life Ins SOLE 1,300 1,875 New Ireland Fd Inc SOLE 0 7,092 New Market Corp. SOLE 500 11,200 Nicholas Finl SOLE 24,225 0 Nokia Corp Spons SOLE 17,500 0 Northern Technologies Int SOLE 24,800 5,400 Oriental Financial Group SOLE 0 18,300 Overhill Farms SOLE 311,661 0 Owens Ill Inc Conv Pfd SOLE 0 14,700 Owens Illinois Inc SOLE 15,350 165,900 Pain Care Holdings Inc SOLE 0 116,000 Paula Financial Del SOLE 14,950 187,825 Perma Fix Environmental SOLE 41,250 0 Pfizer Inc SOLE 4,900 111,750 PMA Cap Corp Cl A SOLE 10,000 23,400 Pro-Dex Inc Colo SOLE 66,345 1,555,287 Proliance Intl Inc SOLE 13,200 80,100 Q.E.P. CO INC SOLE 7,278 301,453 Renaissance Re Holdings L SOLE 55,090 363,105 Rent A Center Inc SOLE 79,091 663,652 River City Bank Mechanics SOLE 15,000 0 Seabright Insurance Holdi SOLE 60,000 141,400 Seagate Technologies SOLE 58,750 361,875 Service Corp Intl. SOLE 63,626 1,082,367 Singapore Fd SOLE 0 67,400 Stonemor Partners Ltd Par SOLE 4,200 35,700 Tag-it Pac Inc SOLE 25,800 211,200 Telestone Technologies Co SOLE 64,135 3,500 Thai Capital Fund SOLE 2,000 252,311 Tupperware Corp. SOLE 53,700 700,561 UCBH Holdings Inc SOLE 0 76,897 Veri-Tek International In SOLE 280,000 0 Visiphor Corporation SOLE 10,000 0 Vita Foods Products Inc SOLE 0 25,000 Waste Industries USA, Inc SOLE 0 8,000 Wilshire Bancorp SOLE 4,800 169,185