13F-HR 1 fw07q3.txt 2007 Q3 13F UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 13F Form 13F COVER PAGE Report for the Calendar Year or Quarter Ended: 09/30/2007 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, California 91106 13F File Number: 28-00983 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: (626) 796-6622 x 119 Signature, Place, and Date of Signing: /s/ Mitchell W. Howard Pasadena, California August 14, 2007 Report Type (Check only one.): [ X] 13F HOLDINGS REPORT. [ ] 13F NOTICE. [ ] 13F COMBINATION REPORT. FORM 13F SUMMARY PAGE Report Summary: Number of Other Included Managers: 0 Form13F Information Table Entry Total: 131 Form13F Information Table Value Total: $507,368 (thousands) List of Other Included Managers: Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional managers with respect to which this report is filed, other than the manager filing this report. NONE FORM 13F INFORMATION TABLE VALUE SHARES/ SH/ PUT/ INVSTMT OTHER VOTING AUTHORITY NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DSCRETN MANAGERS SOLE SHARED NONE ------------------------------ ---------------- --------- -------- -------- --- ---- ------- ------------ -------- -------- -------- 21ST CENTY HLDG CO COM 90136Q100 3931 276837 SH SOLE 31926 244911 ABX AIR INC COM 00080S101 432 60990 SH SOLE 24990 36000 ALCOA INC COM 013817101 978 25000 SH SOLE 5000 20000 ALLIED CAP CORP NEW COM 01903Q108 4985 169613 SH SOLE 27600 142013 AMCOMP INC COM 02342J101 524 55556 SH SOLE 55556 0 AMERICAN CAPITAL STRATEGIES COM 024937104 5700 133400 SH SOLE 52100 81300 AMERICAN INTL GROUP INC COM 026874107 555 8200 SH SOLE 8200 0 AMERICAN PHYSICIANS SVC GROU COM 028882108 1027 55795 SH SOLE 0 55795 AMERISAFE INC COM 03071H100 2481 150000 SH SOLE 95000 55000 ANDERSONS INC COM 034164103 8526 177556 SH SOLE 11400 166156 APOLLO GROUP INC CL A 037604105 1628 27069 SH SOLE 0 27069 ASPREVA PHARMACEUTICALS CORP COM 04538T109 28757 1401432 SH SOLE 242254 1159178 ASTA FDG INC COM 046220109 20422 532927 SH SOLE 24342 508585 AT&T INC COM 00206R102 450 10626.71 SH SOLE 3565 7061.71 ATLANTIC TELE NETWORK INC COM NEW 049079205 26187 720416 SH SOLE 94136 626280 AXESSTEL INC COM 05459T101 71 78500 SH SOLE 78500 0 AXIS CAPITAL HOLDINGS SHS G0692U109 9841 252925 SH SOLE 20150 232775 BAKER MICHAEL CORP COM 057149106 270 5500 SH SOLE 1000 4500 BANK OF AMERICA CORPORATION COM 060505104 2333 46400 SH SOLE 2700 43700 CARRIAGE SVCS INC COM 143905107 9967 1228969 SH SOLE 98000 1130969 CASH AMER INTL INC COM 14754D100 7629 202900 SH SOLE 25000 177900 CCA INDS INC COM 124867102 806 85210 SH SOLE 5500 79710 CENTER FINL CORP CALIF COM 15146E102 2413 173460 SH SOLE 34800 138660 CHINA BAK BATTERY INC COM 16936Y100 1067 137166 SH SOLE 137166 0 CHINA FD INC COM 169373107 3581 72753 SH SOLE 500 72253 CHINA YUCHAI INTL LTD COM G21082105 3535 356350 SH SOLE 0 356350 CHINDEX INTERNATIONAL INC COM 169467107 2563 106143 SH SOLE 44363 61780 CLECO CORP NEW COM 12561W105 278 11000 SH SOLE 0 11000 CONOCOPHILLIPS COM 20825C104 3232 36820 SH SOLE 22420 14400 CONSUMER PORTFOLIO SVCS INC COM 210502100 122 21400 SH SOLE 1700 19700 CORINTHIAN COLLEGES INC COM 218868107 679 42650 SH SOLE 0 42650 CRAWFORD & CO CL A 224633206 463 83954 SH SOLE 63329 20625 CRM HOLDINGS LTD COM G2554P103 875 138894 SH SOLE 13500 125394 DORMAN PRODUCTS INC COM 258278100 828 58758 SH SOLE 8400 50358 DOW CHEM CO COM 260543103 8755 203332 SH SOLE 9600 193732 DTE ENERGY CO COM 233331107 7312 150953 SH SOLE 14400 136553 DUKE ENERGY CORP NEW COM 26441C105 1454 77800 SH SOLE 19500 58300 EAST WEST BANCORP INC COM 27579R104 3321 92345 SH SOLE 0 92345 EDISON INTL COM 281020107 277 5000 SH SOLE 5000 0 EFJ INC COM 26843B101 334 57500 SH SOLE 4000 53500 EMBARQ CORP COM 29078E105 1323 23800 SH SOLE 0 23800 ENDURANCE SPECIALTY HLDGS LT SHS G30397106 22575 543331 SH SOLE 89475 453856 ENTERPRISE PRODS PARTNERS L COM 293792107 318 10498 SH SOLE 10498 0 EXPRESS 1 EXPEDITED SOLUTION COM 30217Q108 112 90500 SH SOLE 90500 0 EZCORP INC CL A NON VTG 302301106 2030 150702 SH SOLE 600 150102 FIRST CASH FINL SVCS INC COM 31942D107 1834 78200 SH SOLE 400 77800 FRIEDMAN BILLINGS RAMSEY GRO CL A 358434108 4581 993633 SH SOLE 197200 796433 FUSHI INTL INC COM 36113C101 7781 557812 SH SOLE 557812 0 GATX CORP COM 361448103 1540 36025 SH SOLE 0 36025 GREATER CHINA FD INC COM 39167B102 12360 303015 SH SOLE 12699 290316 HALIFAX CORP COM 405752106 50 21300 SH SOLE 10600 10700 HANMI FINL CORP COM 410495105 1849 119396 SH SOLE 0 119396 HARBIN ELECTRIC INC COM 41145W109 25309 1557491 SH SOLE 563975 993516 HEALTHCARE SVCS GRP INC COM 421906108 318 15711 SH SOLE 505.5 15205.5 HELEN OF TROY CORP LTD COM G4388N106 736 38137 SH SOLE 0 38137 HORSEHEAD HLDG CORP COM 440694305 1569 70000 SH SOLE 70000 0 HUMANA INC COM 444859102 1204 17225 SH SOLE 500 16725 HUNGARIAN TEL & CABLE CORP COM 445542103 8086 411293 SH SOLE 37258 374035 IMAX CORP COM 45245E109 10069 2397359 SH SOLE 257204 2140155 IMPERIAL CAP BANCORP INC COM 452680101 472 16700 SH SOLE 0 16700 INNOSPEC INC COM 45768S105 5792 254250 SH SOLE 19000 235250 INTERNATIONAL ABSORBENTS INC COM NO PAR 45885E203 2359 548673 SH SOLE 18673 530000 JAKKS PAC INC COM 47012E106 716 26798 SH SOLE 20075 6723 JAPAN EQUITY FD INC COM 471057109 216 27000 SH SOLE 0 27000 JAPAN SMALLER CAPTLZTN FD IN COM 47109U104 192 18498 SH SOLE 7333 11165 JINPAN INTL LTD ORD G5138L100 15881 553353 SH SOLE 86304 467049 KOREA EQUITY FD INC COM 50063B104 513 37726 SH SOLE 2666 35060 KOREA FD COM 500634100 626 13700 SH SOLE 0 13700 LANDEC CORP COM 514766104 876 56673 SH SOLE 12000 44673 LANDRYS RESTAURANTS INC COM 51508L103 368 13900 SH SOLE 0 13900 LANNET INC COM 516012101 86 17900 SH SOLE 17900 0 LO-JACK CORP COM 539451104 740 39032 SH SOLE 3000 36032 MALAYSIA FD INC COM 560905101 248 25600 SH SOLE 2000 23600 MARLIN BUSINESS SVCS CORP COM 571157106 172 11983 SH SOLE 0 11983 MCG CAPITAL CORP COM 58047P107 6072 421939 SH SOLE 86910 335029 MDU RES GROUP INC COM 552690109 8119 291638 SH SOLE 36600 255038 MEDIFAST INC COM 58470H101 84 15000 SH SOLE 15000 0 METHANEX CORP COM 59151K108 3486 137245 SH SOLE 20460 116785 METLIFE INC COM 59156R108 1381 19800 SH SOLE 13800 6000 MFRI INC COM 552721102 591 33142 SH SOLE 0 33142 MICROFINANCIAL INC COM 595072109 1656 277400 SH SOLE 0 277400 MILLER INDS INC TENN COM NEW 600551204 4468 260974 SH SOLE 6600 254374 MITCHAM INDS INC COM 606501104 7777 403391 SH SOLE 34245 369146 MOBILE MINI INC COM 60740F105 1491 61728 SH SOLE 5280 56448 MONSANTO CO NEW COM 61166W101 875 10200 SH SOLE 0 10200 MONTPELIER RE HOLDINGS LTD SHS G62185106 2276 128600 SH SOLE 300 128300 NATIONAL ATLANTIC HLDGS CORP COM 63253Y107 315 33900 SH SOLE 0 33900 NATIONAL WESTN LIFE INS CO CL A 638522102 717 2800 SH SOLE 1300 1500 NEW ORIENTAL ENERGY & CHEM C COM 64758A107 306 50000 SH SOLE 50000 0 NEWMARKET CORP COM 651587107 578 11700 SH SOLE 500 11200 NICHOLAS FINANCIAL INC COM NEW 65373J209 223 24225 SH SOLE 24225 0 NOKIA CORP SPONSORED ADR 654902204 607 16000 SH SOLE 16000 0 NORTHERN TECH INTL CORP COM 665809109 317 30200 SH SOLE 24800 5400 ORIENTAL FINL GROUP INC COM 68618W100 210 18300 SH SOLE 0 18300 OVERHILL FARMS INC COM 690212105 971 280661 SH SOLE 280661 0 OWENS ILL INC PFD CONV $.01 690768502 662 14700 SH SOLE 0 14700 OWENS ILL INC COM NEW 690768403 7254 175000 SH SOLE 15350 159650 PAINCARE HLDGS INC COM 69562E104 40 211000 SH SOLE 211000 0 PERMA-FIX ENVIRONMENTAL SVCS COM 714157104 111 41250 SH SOLE 41250 0 PFIZER INC COM 717081103 3531 144550 SH SOLE 4900 139650 PHC INC MASS CL A 693315103 1060 371937 SH SOLE 0 371937 PRO-DEX INC COLO COM 74265M106 2374 1604035 SH SOLE 66564 1537471 PROLIANCE INTL INC COM 74340R104 182 86300 SH SOLE 13200 73100 Q E P INC COM 74727K102 2574 200800 SH SOLE 7278 193522 QC HLDGS INC COM 74729T101 3344 231447 SH SOLE 25000 206447 RENAISSANCERE HOLDINGS LTD COM G7496G103 28048 428806 SH SOLE 55090 373716 RENT A CTR INC NEW COM 76009N100 14736 812789 SH SOLE 82747 730042 RIVER CITY BK COM 768037103 125 15000 SH SOLE 15000 0 RTW INC COM NEW 74974R206 5340 442819 SH SOLE 39000 403819 SCIELE PHARMA INC COM 808627103 696 26752 SH SOLE 0 26752 SEABRIGHT INSURANCE HLDGS IN COM 811656107 3341 195700 SH SOLE 60000 135700 SEAGATE TECHNOLOGY SHS G7945J104 10460 408912.7 SH SOLE 58525 350387.7 SERVICE CORP INTL COM 817565104 13806 1070237 SH SOLE 58426 1011811 SINGAPORE FD INC COM 82929L109 1200 63600 SH SOLE 0 63600 SPECTRA ENERGY CORP COM 847560109 952 38900 SH SOLE 9750 29150 STEWART ENTERPRISES INC CL A 860370105 137 18000 SH SOLE 18000 0 STONEMOR PARTNERS L P COM UNITS 86183Q100 877 35400 SH SOLE 1200 34200 TALON INTL INC COM 87484F108 164 219000 SH SOLE 25800 193200 TEFRON LTD ORD M87482101 112 18100 SH SOLE 0 18100 TELESTONE TECHNOLOGIES CORP COM 87953J102 394 64635 SH SOLE 64135 500 THAI CAP FD INC COM NEW 882905201 3622 247265 SH SOLE 2000 245265 TRAVELERS COMPANIES INC COM 89417E109 10675 212067 SH SOLE 38759 173308 TUPPERWARE BRANDS CORP COM 899896104 22848 725574 SH SOLE 53700 671874 UCBH HOLDINGS INC COM 90262T308 1138 65097 SH SOLE 0 65097 UNIVERSAL POWER GROUP INC COM 913788105 254 55097 SH SOLE 0 55097 VERI TEK INTL CORP COM 92342X101 2721 380000 SH SOLE 380000 0 VITA FOOD PRODS INC NEV COM 928450105 29 20700 SH SOLE 0 20700 WAL MART STORES INC COM 931142103 218 5000 SH SOLE 5000 0 WILSHIRE BANCORP INC COM 97186T108 6796 619506 SH SOLE 47100 572406 YRC WORLDWIDE INC COM 984249102 2199 80480 SH SOLE 20000 60480 YUCHENG TECHNOLOGIES LTD COM G98777108 1338 139375 SH SOLE 8500 130875