13F-HR 1 shufrorose09302008.txt UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 13F FORM 13F COVER PAGE Report for the Calendar Year or Quarter Ended: September 30, 2008 Check here if Amendment (); Amendment Number: This Amendment (Check only one): ( ) is a restatement. (X) adds new holdings entries. Institutional Investment Manager Filing this Report: Name: Shufro Rose & Co, LLC Address: 745 Fifth Avenue 26th Floor New York, NY 10151 13F File Number:28-792 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: Steven J. Glass Title: Managing Director Phone: 212-754-5100 Signature, Place, and Date of Signing: Steven J. Glass New York, NY November 6, 2008 Report Type (Check only one): (X) 13F HOLDINGS REPORT ( ) 13F NOTICE ( ) 13F COMBINATION REPORT I AM SIGNING THIS REPORT AS REQUIRED BY THE SECURITIES EXCHANGE ACT OF 1934. FORM 13F SUMMARY PAGE AS OF DATE: 09/30/08 RUN DATE: 11/06/08 3:00 P.M. REPORT SUMMARY: NUMBER OF OTHER INCLUDED MANAGERS: 0 FORM 13F INFORMATION TABLE ENTRY TOTAL: 294 FORM 13F INFORMATION TABLE VALUE TOTAL: $756,618,388.54 LIST OF OTHER INCLUDED MANAGERS: NO. 13F FILE NUMBER NAME Shufro, Rose & CO LLC Page: 1 Form 13F Information Table As of Date: 9/30/2008 - Voting Authority - Title Name of Issuer of Class - CUSIP - Value Shares/ SH/ Put/ Invstmt/ Oth Voting Authority Shared None (X $1000) Prn Amt Prn Call Dscretn Mgrs Sole Shared None BLACKROCK MUNIYIELD NY INSD FD FUND 09255E102 324 32,500 SH SOLE 0 0 32,500 VAN KAMPEN TR FOR INVESTMENT FUND 920929106 356 30,680 SH SOLE 0 0 30,680 WESTERN ASSET MUN PARTNERS FD FUND 95766P108 242 23,246 SH SOLE 0 0 23,246 NETWORK EQP TECH 7.25% 5-15-14 CONV BND 641208AA1 2,860 3,426,000 PRN SOLE 0 0 3,426,000 NUVEEN (JTP) QLTY PFD INC FUND PFD 67071S101 137 24,800 SH SOLE 0 0 24,800 NUVEEN (JPS) QLTY PFD FD 2 PFD 67072C105 80 13,600 SH SOLE 0 0 13,600 NUVEEN (JHP) QLTY PFD INC FD 3 PFD 67072W101 176 31,550 SH SOLE 0 0 31,550 NUVEEN MULTI-STRATEGY INC AND PFD 67073D102 215 36,100 SH SOLE 0 0 36,100 ROYAL BANK SCOTLAND 6.40% PFD PFD 780097796 691 74,700 SH SOLE 0 0 74,700 ALLIANCEBERNSTEIN INCOME FD FUND 01881E101 138 18,337 SH SOLE 0 0 18,337 BLACKROCK FLT RT STRATEGIES FD FUND 09255X100 441 40,100 SH SOLE 0 0 40,100 DREYFUS HIGH YIELD STRATEGIES FUND 26200S101 44 15,000 SH SOLE 0 0 15,000 DWS MULTI MKT INCOME TR FUND 23338L108 349 52,400 SH SOLE 0 0 52,400 EATON VANCE LTD DURATION INC FUND 27828H105 636 57,803 SH SOLE 0 0 57,803 1ST TR / 4 CORNERS SR FLOAT FD FUND 33733U108 500 47,900 SH SOLE 0 0 47,900 PUTNAM PREMIER INCOME TRUST FUND 746853100 177 32,631 SH SOLE 0 0 32,631 WESTERN ASSET GLBL PTNS INC FD FUND 95766G108 175 21,700 SH SOLE 0 0 21,700 ACUSPHERE INC COM 00511R870 19 57,000 SH SOLE 0 0 57,000 ADAPTEC COM 00651F108 490 149,400 SH SOLE 0 0 149,400 AGILYSYS COM 00847J105 9,046 896,540 SH SOLE 0 0 896,540 AGRIUM INC COM 008916108 10,333 184,255 SH SOLE 0 0 184,255 AIR TRANSPORT SERVICES GROUP COM 00922R105 7 10,100 SH SOLE 0 0 10,100 AIRTRAN HOLDINGS COM 00949P108 36 15,000 SH SOLE 0 0 15,000 ALASKA PACIFIC BANCSHARES COM 011757101 311 23,950 SH SOLE 0 0 23,950 AMERICAN AXLE & MANUFACTURING COM 024061103 1,078 201,225 SH SOLE 0 0 201,225 AMERICAN EAGLE OUTFITTERS COM 02553E106 1,390 91,200 SH SOLE 0 0 91,200 AMERICAN EXPRESS COM 025816109 1,637 46,215 SH SOLE 0 0 46,215 AMERICAN FINANCIAL GROUP COM 025932104 221 7,500 SH SOLE 0 0 7,500 AMERICAN SOFTWARE COM 029683109 137 25,300 SH SOLE 0 0 25,300 AMGEN INC COM 031162100 228 3,860 SH SOLE 0 0 3,860 ANHEUSER-BUSCH COM 035229103 687 10,600 SH SOLE 0 0 10,600 APPLIED MATERIALS COM 038222105 2,516 166,305 SH SOLE 0 0 166,305 ASYST TECHNOLOGIES COM 04648X107 60 25,190 SH SOLE 0 0 25,190 AT&T INC COM 00206R102 926 33,181 SH SOLE 0 0 33,181 AUTOMATIC DATA PROCESSING COM 053015103 365 8,555 SH SOLE 0 0 8,555 AVX COM 002444107 7,052 692,140 SH SOLE 0 0 692,140 BAFFINLAND IRON MINES COM 056620107 10 10,000 SH SOLE 0 0 10,000 BANK OF AMERICA COM 060505104 1,122 32,083 SH SOLE 0 0 32,083 BANK OF NEW YORK COM 064058100 874 26,828 SH SOLE 0 0 26,828 BAR HARBOR BANKSHARES COM 066849100 5,782 214,150 SH SOLE 0 0 214,150 BARNES & NOBLE COM 067774109 2,448 93,900 SH SOLE 0 0 93,900 BEBE STORES COM 075571109 273 28,000 SH SOLE 0 0 28,000 BENCHMARK ELECTRONICS COM 08160H101 384 27,300 SH SOLE 0 0 27,300 BERKSHIRE BANCORP COM 084597202 753 85,270 SH SOLE 0 0 85,270 BERKSHIRE HATHAWAY A SHARES COM 084670108 1,828 14 SH SOLE 0 0 14 BERKSHIRE HATHAWAY B SHARES COM 084670207 9,317 2,120 SH SOLE 0 0 2,120 BGC PARTNERS COM 05541T101 450 105,000 SH SOLE 0 0 105,000 BLACKROCK DIVIDEND ACHIEVER TR COM 09250N107 108 11,100 SH SOLE 0 0 11,100 BNCCORP INC COM 055936108 153 18,500 SH SOLE 0 0 18,500 BOSTON PRIVATE FINANCIAL HLDGS COM 101119105 294 33,700 SH SOLE 0 0 33,700 BORLAND SOFTWARE COM 099849101 186 122,100 SH SOLE 0 0 122,100 Shufro, Rose & CO LLC Page: 2 Form 13F Information Table As of Date: 9/30/2008 - Voting Authority - Title Name of Issuer of Class - CUSIP - Value Shares/ SH/ Put/ Invstmt/ Oth Voting Authority Shared None (X $1000) Prn Amt Prn Call Dscretn Mgrs Sole Shared None BP PLC COM 055622104 1,199 23,910 SH SOLE 0 0 23,910 BRESLER & REINER COM 107336109 387 22,800 SH SOLE 0 0 22,800 BRIGGS & STRATTON CORP COM 109043109 163 10,100 SH SOLE 0 0 10,100 BRISTOL-MYERS SQUIBB COM 110122108 410 19,669 SH SOLE 0 0 19,669 BROADPOINT SECURITIES GROUP COM 11133V108 33 11,600 SH SOLE 0 0 11,600 BROOKS AUTOMATION COM 114340102 2,390 285,900 SH SOLE 0 0 285,900 BROWN SHOE COMPANY COM 115736100 1,030 62,900 SH SOLE 0 0 62,900 CABELA'S INC COM 126804301 1,287 106,610 SH SOLE 0 0 106,610 CALAMP CORP COM 128126109 264 200,306 SH SOLE 0 0 200,306 CARNIVAL CRUISE LINES COM 143658300 487 13,780 SH SOLE 0 0 13,780 CARRIAGE SERVICES COM 143905107 198 56,600 SH SOLE 0 0 56,600 CBRE REALTY FINANCE COM 12498B307 112 83,000 SH SOLE 0 0 83,000 CBS CLASS B COM 124857202 337 23,150 SH SOLE 0 0 23,150 CENTRUE FINANCIAL COM 15643B106 183 14,300 SH SOLE 0 0 14,300 CHARLOTTE RUSSE HOLDING COM 161048103 686 67,000 SH SOLE 0 0 67,000 CHESAPEAKE ENERGY COM 165167107 1,339 37,350 SH SOLE 0 0 37,350 CHEVRON CORP COM 166764100 3,378 40,965 SH SOLE 0 0 40,965 CHICOS FAS COM 168615102 5,455 997,275 SH SOLE 0 0 997,275 CHRISTOPHER & BANKS COM 171046105 1,692 220,600 SH SOLE 0 0 220,600 CIMAREX ENERGY COM 171798101 464 9,500 SH SOLE 0 0 9,500 CISCO SYSTEMS COM 17275R102 647 28,697 SH SOLE 0 0 28,697 CITADEL BROADCASTING COM 17285T106 10 13,216 SH SOLE 0 0 13,216 CITIGROUP COM 172967101 4,395 214,333 SH SOLE 0 0 214,333 COACH INC COM 189754104 1,557 62,200 SH SOLE 0 0 62,200 COCA-COLA COM 191216100 352 6,660 SH SOLE 0 0 6,660 COLDWATER CREEK COM 193068103 77 13,300 SH SOLE 0 0 13,300 CONCORD CAMERA NEW COM 206156200 76 31,880 SH SOLE 0 0 31,880 CONOCOPHILLIPS COM 20825C104 416 5,683 SH SOLE 0 0 5,683 CONSOLIDATED TOMOKA LAND COM 210226106 215 5,000 SH SOLE 0 0 5,000 COOLBRANDS INTERNATIONAL COM 21639P307 134 216,100 SH SOLE 0 0 216,100 CORNING COM 219350105 421 26,933 SH SOLE 0 0 26,933 COSTCO WHOLESALE COM 22160K105 649 10,000 SH SOLE 0 0 10,000 CRAWFORD & CO COM 224633107 3,416 224,800 SH SOLE 0 0 224,800 CRAFT BREWERS ALLIANCE COM 224122101 36 10,000 SH SOLE 0 0 10,000 DELL INC COM 24702R101 443 26,925 SH SOLE 0 0 26,925 DESIGN WITHIN REACH COM 250557105 102 30,000 SH SOLE 0 0 30,000 DISCOVER FINANCIAL SERVICES COM 254709108 304 22,000 SH SOLE 0 0 22,000 DISNEY WALT COM 254687106 5,394 175,782 SH SOLE 0 0 175,782 DOMTAR CORP COM 257559104 1,020 221,810 SH SOLE 0 0 221,810 DONEGAL GROUP COM 257701201 2,315 127,730 SH SOLE 0 0 127,730 DOT HILL SYSTEMS COM 25848T109 647 287,850 SH SOLE 0 0 287,850 DOVER CORP COM 260003108 6,560 161,790 SH SOLE 0 0 161,790 DOW CHEMICAL COM 260543103 7,934 249,670 SH SOLE 0 0 249,670 DRESS BARN COM 261570105 2,909 190,300 SH SOLE 0 0 190,300 D R HORTON COM 23331A109 1,700 130,635 SH SOLE 0 0 130,635 DRUGSTORE.COM COM 262241102 150 64,200 SH SOLE 0 0 64,200 DUPONT COM 263534109 15,827 392,741 SH SOLE 0 0 392,741 EAGLE MATERIALS COM 26969P108 1,459 65,245 SH SOLE 0 0 65,245 EL PASO CORPORATION COM 28336L109 520 40,800 SH SOLE 0 0 40,800 EMERSON ELECTRIC COM 291011104 203 5,000 SH SOLE 0 0 5,000 ENER1 INC COM 29267A203 174 22,375 SH SOLE 0 0 22,375 Shufro, Rose & CO LLC Page: 3 Form 13F Information Table As of Date: 9/30/2008 - Voting Authority - Title Name of Issuer of Class - CUSIP - Value Shares/ SH/ Put/ Invstmt/ Oth Voting Authority Shared None (X $1000) Prn Amt Prn Call Dscretn Mgrs Sole Shared None ENZO BIOCHEM COM 294100102 494 45,057 SH SOLE 0 0 45,057 ETHAN ALLEN INTERIORS COM 297602104 10,265 366,370 SH SOLE 0 0 366,370 EUROPEAN EQUITY FUND COM 298768102 2,540 352,884 SH SOLE 0 0 352,884 EV3 INC COM 26928A200 178 17,800 SH SOLE 0 0 17,800 EXCAPSA SOFTWARE COM 30066E107 6 38,000 SH SOLE 0 0 38,000 EXXON MOBIL COM 30231G102 24,179 311,347 SH SOLE 0 0 311,347 FEDERAL SIGNAL COM 313855108 6,851 500,130 SH SOLE 0 0 500,130 FIFTH THIRD BANCORP COM 316773100 132 11,100 SH SOLE 0 0 11,100 FINISH LINE CL A COM 317923100 315 31,600 SH SOLE 0 0 31,600 FIRST BANK OF DELAWARE COM 319307104 252 140,047 SH SOLE 0 0 140,047 FIRST HORIZON NATIONAL COM 320517105 108 11,543 SH SOLE 0 0 11,543 FIRST NATIONAL BANK ALASKA COM 32112J106 4,140 2,313 SH SOLE 0 0 2,313 FIRST CITIZENS BANCORP SC COM 319460101 2,581 4,781 SH SOLE 0 0 4,781 FLEXIINTERNATIONAL SOFTWARE COM 338923105 13 75,000 SH SOLE 0 0 75,000 FLEXTRONICS INTERNATIONAL LTD COM Y2573F102 10,466 1,478,319 SH SOLE 0 0 1,478,319 FOOT LOCKER COM 344849104 3,461 214,200 SH SOLE 0 0 214,200 FORD MOTOR CO COM 345370860 80 15,418 SH SOLE 0 0 15,418 FRANKLIN BANK COM 352451108 20 42,100 SH SOLE 0 0 42,100 FRIEDMAN INDUSTRIES COM 358435105 665 100,000 SH SOLE 0 0 100,000 FULL METAL MINERALS COM 35968C109 6 10,000 SH SOLE 0 0 10,000 GARMIN LTD COM G37260109 287 8,465 SH SOLE 0 0 8,465 GENERAL ELECTRIC COM 369604103 36,811 1,443,599 SH SOLE 0 0 1,443,599 GERON CORP COM 374163103 402 101,900 SH SOLE 0 0 101,900 GEVITY HR COM 374393106 262 36,000 SH SOLE 0 0 36,000 GIGA TRONICS COM 375175106 13 16,100 SH SOLE 0 0 16,100 GLATFELTER COM 377316104 392 29,000 SH SOLE 0 0 29,000 GLOBAL AIRCRAFT SOLUTIONS COM 378964100 4 30,000 SH SOLE 0 0 30,000 GOLFSMITH INTL COM 38168Y103 181 68,100 SH SOLE 0 0 68,100 GREATER CHINA FUND COM 39167B102 423 45,165 SH SOLE 0 0 45,165 GSI GROUP COM 36229U102 56 16,000 SH SOLE 0 0 16,000 GUARANTY BANCORP COM 40075T102 280 46,000 SH SOLE 0 0 46,000 HARDINGE INC COM 412324303 575 45,300 SH SOLE 0 0 45,300 HARRIS & HARRIS GROUP COM 413833104 2,599 407,500 SH SOLE 0 0 407,500 HCC INSURANCE HOLDINGS COM 404132102 1,786 66,165 SH SOLE 0 0 66,165 HEALTH FITNESS COM 42217V102 394 266,500 SH SOLE 0 0 266,500 HEWLETT PACKARD COM 428236103 15,846 342,698 SH SOLE 0 0 342,698 HOME DEPOT COM 437076102 1,255 48,478 SH SOLE 0 0 48,478 H3 ENTERPRISES COM 404369100 0 13,000 SH SOLE 0 0 13,000 HUDSON HOLDING COM 443793104 4 15,000 SH SOLE 0 0 15,000 HUMAN GENOME SCIENCES COM 444903108 139 22,000 SH SOLE 0 0 22,000 ILLINOIS TOOL WORKS COM 452308109 4,653 104,690 SH SOLE 0 0 104,690 IMI PLC ORD 25P COM G47152106 796 120,000 SH SOLE 0 0 120,000 IMMUCELL CORP NEW COM 452525306 31 10,000 SH SOLE 0 0 10,000 INFOSONICS CORP COM 456784107 109 214,200 SH SOLE 0 0 214,200 INTEL COM 458140100 23,825 1,272,027 SH SOLE 0 0 1,272,027 INTL BUSINESS MACHINES COM 459200101 10,338 88,394 SH SOLE 0 0 88,394 INTL COAL GROUP COM 45928H106 1,629 261,135 SH SOLE 0 0 261,135 INTL FRONTIER RESOURCES COM 459976106 3 25,000 SH SOLE 0 0 25,000 INTL PAPER COM 460146103 25,097 958,653 SH SOLE 0 0 958,653 INTL RECTIFIER COM 460254105 8,925 469,255 SH SOLE 0 0 469,255 JAPAN EQUITY FUND COM 471057109 5,018 927,700 SH SOLE 0 0 927,700 Shufro, Rose & CO LLC Page: 4 Form 13F Information Table As of Date: 9/30/2008 - Voting Authority - Title Name of Issuer of Class - CUSIP - Value Shares/ SH/ Put/ Invstmt/ Oth Voting Authority Shared None (X $1000) Prn Amt Prn Call Dscretn Mgrs Sole Shared None JAPAN SMALLER CAP FUND COM 47109U104 3,997 548,400 SH SOLE 0 0 548,400 JETBLUE AIRWAYS COM 477143101 74 15,000 SH SOLE 0 0 15,000 JOHNSON & JOHNSON COM 478160104 16,529 238,586 SH SOLE 0 0 238,586 KADANT COM 48282T104 2,048 89,970 SH SOLE 0 0 89,970 KELLY SERVICES CL A COM 488152208 5,481 287,725 SH SOLE 0 0 287,725 KEMET CORP COM 488360108 293 215,900 SH SOLE 0 0 215,900 KIMBERLY-CLARK COM 494368103 679 10,475 SH SOLE 0 0 10,475 KING PHARMACEUTICALS COM 495582108 229 24,000 SH SOLE 0 0 24,000 KLEGG ELECTRONICS COM 498499300 0 14,300 SH SOLE 0 0 14,300 KOHLS COM 500255104 1,092 23,700 SH SOLE 0 0 23,700 KRATOS DEFENSE & SECURITY COM 50077B108 2,472 1,248,600 SH SOLE 0 0 1,248,600 LAKELAND INDUSTRIES COM 511795106 1,212 93,997 SH SOLE 0 0 93,997 LATTICE INCORPORATED COM 518414107 8 40,835 SH SOLE 0 0 40,835 LECROY CORP COM 52324W109 76 10,000 SH SOLE 0 0 10,000 LEXINGTON PROPERTY TRUST COM 529043101 654 38,000 SH SOLE 0 0 38,000 LIBERTY MEDIA ENTERTAINMENT A COM 53071M500 587 23,540 SH SOLE 0 0 23,540 LIBERTY MEDIA HLDG INTRACTVE A COM 53071M104 693 53,736 SH SOLE 0 0 53,736 LILLY (ELI) & CO COM 532457108 496 11,278 SH SOLE 0 0 11,278 LSI CORPORATION COM 502161102 1,966 366,846 SH SOLE 0 0 366,846 LTX CREDENCE COM 502403108 162 93,430 SH SOLE 0 0 93,430 M & T BANK COM 55261F104 9,433 105,700 SH SOLE 0 0 105,700 MANHATTAN PHARMACEUTICALS COM 563118207 0 10,000 SH SOLE 0 0 10,000 MATTSON TECHNOLOGY COM 577223100 378 80,000 SH SOLE 0 0 80,000 MCCORMICK SCHMICKS SEAFOOD RES COM 579793100 404 41,525 SH SOLE 0 0 41,525 MEADOWBROOK INSURANCE GROUP COM 58319P108 333 47,300 SH SOLE 0 0 47,300 MEDTRONIC COM 585055106 9,399 187,613 SH SOLE 0 0 187,613 MERCER INTERNATIONAL COM 588056101 36 10,000 SH SOLE 0 0 10,000 MERCK & CO COM 589331107 579 18,360 SH SOLE 0 0 18,360 MEREDITH CORP COM 589433101 8,177 291,640 SH SOLE 0 0 291,640 MERRILL LYNCH COM 590188108 3,265 129,089 SH SOLE 0 0 129,089 METLIFE COM 59156R108 12,953 231,305 SH SOLE 0 0 231,305 MICROSOFT COM 594918104 647 24,275 SH SOLE 0 0 24,275 MODUSLINK GLOBAL SOLUTIONS INC COM 60786L107 861 89,680 SH SOLE 0 0 89,680 MOBILE MINI COM 60740F105 8,594 444,600 SH SOLE 0 0 444,600 MONACO COACH COM 60886R103 1,431 734,325 SH SOLE 0 0 734,325 MONMOUTH REAL ESTATE INVT CORP COM 609720107 286 36,750 SH SOLE 0 0 36,750 JPMORGAN CHASE & CO COM 46625H100 21,380 457,831 SH SOLE 0 0 457,831 MORGAN STANLEY ASIA PACIFIC FD COM 61744U106 183 13,700 SH SOLE 0 0 13,700 MUELLER WATER PRODUCTS COM 624758108 794 88,500 SH SOLE 0 0 88,500 MYLAN INC COM 628530107 11,616 1,017,205 SH SOLE 0 0 1,017,205 NAM TAI ELECTRONICS COM 629865205 907 111,100 SH SOLE 0 0 111,100 NANOPHASE TECHNOLOGIES COM 630079101 28 22,300 SH SOLE 0 0 22,300 NATIONAL WESTERN LIFE INSUR COM 638522102 11,277 46,586 SH SOLE 0 0 46,586 NAUTILUS GROUP COM 63910B102 57 12,500 SH SOLE 0 0 12,500 NAVARRE CORP COM 639208107 401 278,900 SH SOLE 0 0 278,900 NAVIOS MARITIME COM Y62196103 72 14,100 SH SOLE 0 0 14,100 NEOMAGIC CORP COM 640497202 3 163,600 SH SOLE 0 0 163,600 NESTLE SA ADR COM 641069406 488 11,375 SH SOLE 0 0 11,375 NETGEAR INC COM 64111Q104 997 66,500 SH SOLE 0 0 66,500 NETWORK EQUIPMENT TECHNOLOGIES COM 641208103 3,068 897,300 SH SOLE 0 0 897,300 NEWCASTLE INVESTMENT COM 65105M108 242 38,200 SH SOLE 0 0 38,200 Shufro, Rose & CO LLC Page: 5 Form 13F Information Table As of Date: 9/30/2008 - Voting Authority - Title Name of Issuer of Class - CUSIP - Value Shares/ SH/ Put/ Invstmt/ Oth Voting Authority Shared None (X $1000) Prn Amt Prn Call Dscretn Mgrs Sole Shared None NEWPORT CORP COM 651824104 6,344 588,525 SH SOLE 0 0 588,525 NORTHERN TRUST CORP COM 665859104 254 3,525 SH SOLE 0 0 3,525 OFFICE DEPOT COM 676220106 1,936 332,700 SH SOLE 0 0 332,700 OLD REPUBLIC COM 680223104 1,394 109,400 SH SOLE 0 0 109,400 ON ASSIGNMENT COM 682159108 788 100,100 SH SOLE 0 0 100,100 ONE BEACON INSURANCE LTD COM G67742109 5,294 250,350 SH SOLE 0 0 250,350 OPNEXT INC COM 68375V105 137 30,000 SH SOLE 0 0 30,000 PACIFIC ASIA PETROLEUM COM 693864100 40 20,000 SH SOLE 0 0 20,000 PAMRAPO BANCORP COM 697738102 358 35,100 SH SOLE 0 0 35,100 PDI INC COM 69329V100 1,140 143,700 SH SOLE 0 0 143,700 PEPSICO INC COM 713448108 1,981 27,799 SH SOLE 0 0 27,799 PETROLEUM DEVELOPMENT COM 716578109 292 6,600 SH SOLE 0 0 6,600 PEYTO ENERGY TRUST COM 717045108 165 11,500 SH SOLE 0 0 11,500 PF CHANGS CHINA BISTRO COM 69333Y108 894 38,000 SH SOLE 0 0 38,000 PFIZER INC COM 717081103 12,469 676,228 SH SOLE 0 0 676,228 PHILIPS ELECTRONICS COM 500472303 220 8,084 SH SOLE 0 0 8,084 PIPER JAFFRAY COM 724078100 609 14,100 SH SOLE 0 0 14,100 PLANAR SYSTEMS COM 726900103 25 10,000 SH SOLE 0 0 10,000 PNC FINANCIAL SERVICES GROUP COM 693475105 552 7,400 SH SOLE 0 0 7,400 POWERSHARES QQQ TRUST SERIES 1 COM 73935A104 350 9,005 SH SOLE 0 0 9,005 PRIMEENERGY CORP COM 74158E104 1,477 19,970 SH SOLE 0 0 19,970 PROCTER & GAMBLE COM 742718109 343 4,930 SH SOLE 0 0 4,930 PROSHARES TR ULTRA FINANCIALS COM 74347R743 3,099 176,700 SH SOLE 0 0 176,700 PROSPECT CAPITAL COM 74348T102 831 64,900 SH SOLE 0 0 64,900 QUALCOMM COM 747525103 1,241 28,900 SH SOLE 0 0 28,900 RAMCO GERSHENSON PROPERTIES TR COM 751452202 1,134 50,600 SH SOLE 0 0 50,600 REGAL-BELOIT COM 758750103 5,096 119,850 SH SOLE 0 0 119,850 REGENERON PHARMACEUTICALS COM 75886F107 235 10,800 SH SOLE 0 0 10,800 REPUBLIC FIRST BANCORP COM 760416107 367 42,739 SH SOLE 0 0 42,739 ROCKWELL AUTOMATION COM 773903109 9,753 261,195 SH SOLE 0 0 261,195 ROYAL DUTCH SHELL PLC ADR A COM 780259206 427 7,240 SH SOLE 0 0 7,240 ST JOE CO COM 790148100 327 8,380 SH SOLE 0 0 8,380 SAKS INC COM 79377W108 3,046 329,321 SH SOLE 0 0 329,321 SALISBURY BANCORP COM 795226109 2,188 78,850 SH SOLE 0 0 78,850 SALTON INC COM 795757103 2 15,400 SH SOLE 0 0 15,400 SANOFI AVENTIS COM 80105N105 493 15,000 SH SOLE 0 0 15,000 SCHEIN (HENRY) COM 806407102 1,448 26,900 SH SOLE 0 0 26,900 SCHLUMBERGER LTD COM 806857108 251 3,220 SH SOLE 0 0 3,220 SCHMITT INDUSTRIES COM 806870200 1,114 190,500 SH SOLE 0 0 190,500 SEABOARD CORP COM 811543107 201 160 SH SOLE 0 0 160 SEAGATE TECHNOLOGY COM G7945J104 149 12,310 SH SOLE 0 0 12,310 SE FINANCIAL COM 78412R108 313 43,845 SH SOLE 0 0 43,845 SENECA FOODS NEW COM 817070501 529 27,900 SH SOLE 0 0 27,900 SILICON IMAGE COM 82705T102 221 41,500 SH SOLE 0 0 41,500 SILICON STORAGE TECHNOLOGY COM 827057100 686 210,600 SH SOLE 0 0 210,600 SIMPSON MANUFACTURING COM 829073105 8,319 307,095 SH SOLE 0 0 307,095 SONOCO PRODUCTS COM 835495102 15,620 526,285 SH SOLE 0 0 526,285 SONOSITE COM 83568G104 1,877 59,790 SH SOLE 0 0 59,790 STRATTEC SECURITY COM 863111100 3,468 131,270 SH SOLE 0 0 131,270 SUPERIOR INDUSTRIES INTL COM 868168105 2,581 134,750 SH SOLE 0 0 134,750 SWISS HELVETIA FUND COM 870875101 7,166 569,200 SH SOLE 0 0 569,200 Shufro, Rose & CO LLC Page: 6 Form 13F Information Table As of Date: 9/30/2008 - Voting Authority - Title Name of Issuer of Class - CUSIP - Value Shares/ SH/ Put/ Invstmt/ Oth Voting Authority Shared None (X $1000) Prn Amt Prn Call Dscretn Mgrs Sole Shared None SYMMETRICOM INC COM 871543104 1,100 221,500 SH SOLE 0 0 221,500 SYNERON MEDICAL COM M87245102 289 20,300 SH SOLE 0 0 20,300 TARGET CORP COM 87612E106 846 17,264 SH SOLE 0 0 17,264 TASTY BAKING COM 876553306 49 12,000 SH SOLE 0 0 12,000 TELLABS COM 879664100 262 64,600 SH SOLE 0 0 64,600 TEMPLETON DRAGON FD INC COM 88018T101 1,076 54,650 SH SOLE 0 0 54,650 TERADYNE COM 880770102 6,683 855,750 SH SOLE 0 0 855,750 THERMO FISHER SCIENTIFIC COM 883556102 4,607 83,770 SH SOLE 0 0 83,770 THOR INDUSTRIES COM 885160101 461 18,600 SH SOLE 0 0 18,600 TIMBERLAND CO COM 887100105 312 18,000 SH SOLE 0 0 18,000 TIME WARNER COM 887317105 1,866 142,390 SH SOLE 0 0 142,390 TITANIUM METALS COM 888339207 1,496 132,000 SH SOLE 0 0 132,000 TRANSWITCH CORP COM 894065101 32 60,000 SH SOLE 0 0 60,000 TRINITY INDUSTRIES COM 896522109 928 36,100 SH SOLE 0 0 36,100 UNITED CAPITAL COM 909912107 562 21,250 SH SOLE 0 0 21,250 UNITED PARCEL SERVICE COM 911312106 15,987 254,216 SH SOLE 0 0 254,216 U S CONCRETE COM 90333L102 67 15,000 SH SOLE 0 0 15,000 USEC INC COM 90333E108 140 26,000 SH SOLE 0 0 26,000 US GYPSUM COM 903293405 8,208 320,640 SH SOLE 0 0 320,640 UTSTARCOM INC COM 918076100 1,162 344,840 SH SOLE 0 0 344,840 VALENCE TECH COM 918914102 712 206,500 SH SOLE 0 0 206,500 VERIZON COMMUNICATIONS COM 92343V104 1,168 36,411 SH SOLE 0 0 36,411 VISHAY INTERTECHNOLOGY COM 928298108 656 99,100 SH SOLE 0 0 99,100 VITESSE SEMICONDUCTOR COM 928497106 715 1,324,103 SH SOLE 0 0 1,324,103 VODAFONE GROUP PLC NEW COM 92857W209 458 20,735 SH SOLE 0 0 20,735 WABASH NATIONAL COM 929566107 833 88,250 SH SOLE 0 0 88,250 WAL-MART STORES COM 931142103 22,255 371,606 SH SOLE 0 0 371,606 WARWICK VALLEY TELEPHONE COM 936750108 139 12,400 SH SOLE 0 0 12,400 WASHINGTON POST COM 939640108 891 1,602 SH SOLE 0 0 1,602 WATSON PHARMACEUTICALS COM 942683103 10,561 370,580 SH SOLE 0 0 370,580 WELLPOINT INC COM 94973V107 893 19,100 SH SOLE 0 0 19,100 WESTLAKE CHEMICAL COM 960413102 16,163 768,605 SH SOLE 0 0 768,605 WHIRLPOOL CORP COM 963320106 10,839 136,703 SH SOLE 0 0 136,703 WILLOW FINANCIAL BANCORP COM 97111W101 514 53,100 SH SOLE 0 0 53,100 WYETH COM 983024100 807 21,862 SH SOLE 0 0 21,862 XTO ENERGY COM 98385X106 776 16,700 SH SOLE 0 0 16,700 ZIMMER HOLDINGS COM 98956P102 333 5,169 SH SOLE 0 0 5,169 3COM COM 885535104 1,137 488,300 SH SOLE 0 0 488,300 3M COMPANY COM 88579Y101 25,808 377,818 SH SOLE 0 0 377,818 Line Count: 294