13F-HR 1 shufrorose12312008.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: December 31, 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 February 11, 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: 12/31/08 RUN DATE: 2/11/08 12:40 P.M. REPORT SUMMARY: NUMBER OF OTHER INCLUDED MANAGERS: 0 FORM 13F INFORMATION TABLE ENTRY TOTAL: 285 FORM 13F INFORMATION TABLE VALUE TOTAL: $552,427,765.49 LIST OF OTHER INCLUDED MANAGERS: NO. 13F FILE NUMBER NAME Shufro, Rose & CO LLC Page: 1 Form 13F Information Table As of Date: 12/31/2008 - 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 275 32,000 SH SOLE 0 0 32,000 VAN KAMPEN TR FOR INVESTMENT FUND 920929106 235 26,680 SH SOLE 0 0 26,680 WESTERN ASSET MUN PARTNERS FD FUND 95766P108 225 23,246 SH SOLE 0 0 23,246 NETWORK EQP TECH 7.25% 5-15-14 CONV BND 641208AA1 2,172 3,421,000 PRN SOLE 0 0 3,421,000 NUVEEN (JTP) QLTY PFD INC FUND PFD 67071S101 81 16,800 SH SOLE 0 0 16,800 NUVEEN (JHP) QLTY PFD INC FD 3 PFD 67072W101 108 21,450 SH SOLE 0 0 21,450 NUVEEN MULTI-STRATEGY INCOME & PFD 67073B106 46 10,000 SH SOLE 0 0 10,000 NUVEEN MULTI-STRATEGY INC AND PFD 67073D102 89 18,300 SH SOLE 0 0 18,300 ROYAL BANK SCOTLAND 6.40% PFD PFD 780097796 606 68,500 SH SOLE 0 0 68,500 BLACKROCK FLT RT STRATEGIES FD FUND 09255X100 398 45,500 SH SOLE 0 0 45,500 DREYFUS HIGH YIELD STRATEGIES FUND 26200S101 33 15,000 SH SOLE 0 0 15,000 DWS MULTI MKT INCOME TR FUND 23338L108 278 48,700 SH SOLE 0 0 48,700 1ST TR / 4 CORNERS SR FLOAT FD FUND 33733U108 282 40,300 SH SOLE 0 0 40,300 PUTNAM PREMIER INCOME TRUST FUND 746853100 110 28,635 SH SOLE 0 0 28,635 COHEN STEERS REIT ULTY INC FD FUND 19247Y108 98 15,475 SH SOLE 0 0 15,475 WESTERN ASSET GLBL PTNS INC FD FUND 95766G108 120 19,700 SH SOLE 0 0 19,700 ABERCROMBIE & FITCH COM 002896207 207 9,000 SH SOLE 0 0 9,000 ACUSPHERE INC COM 00511R870 3 46,000 SH SOLE 0 0 46,000 ADAPTEC COM 00651F108 493 149,400 SH SOLE 0 0 149,400 AGILYSYS COM 00847J105 4,109 957,975 SH SOLE 0 0 957,975 AGRIUM INC COM 008916108 6,271 183,755 SH SOLE 0 0 183,755 AIR TRANSPORT SERVICES GROUP COM 00922R105 1 10,100 SH SOLE 0 0 10,100 AIRTRAN HOLDINGS COM 00949P108 44 10,000 SH SOLE 0 0 10,000 ALASKA PACIFIC BANCSHARES COM 011757101 100 22,350 SH SOLE 0 0 22,350 ALCON INC COM H01301102 259 2,909 SH SOLE 0 0 2,909 AMERICAN EAGLE OUTFITTERS COM 02553E106 666 71,200 SH SOLE 0 0 71,200 AMERICAN EXPRESS COM 025816109 811 43,770 SH SOLE 0 0 43,770 AMERICAN INTL GROUP COM 026874107 91 58,000 SH SOLE 0 0 58,000 AMERICAN SOFTWARE COM 029683109 118 25,300 SH SOLE 0 0 25,300 AMGEN INC COM 031162100 222 3,860 SH SOLE 0 0 3,860 APPLIED MATERIALS COM 038222105 2,112 208,515 SH SOLE 0 0 208,515 ASYST TECHNOLOGIES COM 04648X107 6 24,990 SH SOLE 0 0 24,990 AT&T INC COM 00206R102 1,015 35,647 SH SOLE 0 0 35,647 AUTOMATIC DATA PROCESSING COM 053015103 336 8,555 SH SOLE 0 0 8,555 AVX COM 002444107 5,565 700,940 SH SOLE 0 0 700,940 BAFFINLAND IRON MINES COM 056620107 1 10,000 SH SOLE 0 0 10,000 BANK OF AMERICA COM 060505104 383 27,215 SH SOLE 0 0 27,215 BANK OF NEW YORK COM 064058100 638 22,528 SH SOLE 0 0 22,528 BAR HARBOR BANKSHARES COM 066849100 5,424 210,650 SH SOLE 0 0 210,650 BARNES & NOBLE COM 067774109 1,363 90,900 SH SOLE 0 0 90,900 BENCHMARK ELECTRONICS COM 08160H101 182 14,300 SH SOLE 0 0 14,300 BERKSHIRE BANCORP COM 084597202 373 79,570 SH SOLE 0 0 79,570 BERKSHIRE HATHAWAY A SHARES COM 084670108 1,159 12 SH SOLE 0 0 12 BERKSHIRE HATHAWAY B SHARES COM 084670207 6,800 2,116 SH SOLE 0 0 2,116 BGC PARTNERS COM 05541T101 289 105,000 SH SOLE 0 0 105,000 BNCCORP INC COM 055936108 84 15,000 SH SOLE 0 0 15,000 BOLT TECHNOLOGY COM 097698104 83 12,000 SH SOLE 0 0 12,000 BOSTON PRIVATE FINANCIAL HLDGS COM 101119105 147 21,600 SH SOLE 0 0 21,600 BORLAND SOFTWARE COM 099849101 128 122,100 SH SOLE 0 0 122,100 BP PLC COM 055622104 1,117 23,910 SH SOLE 0 0 23,910 BRESLER & REINER COM 107336109 283 21,800 SH SOLE 0 0 21,800 Shufro, Rose & CO LLC Page: 2 Form 13F Information Table As of Date: 12/31/2008 - 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 BRISTOL-MYERS SQUIBB COM 110122108 470 20,219 SH SOLE 0 0 20,219 BROADPOINT SECURITIES GROUP COM 11133V108 34 11,600 SH SOLE 0 0 11,600 BROOKS AUTOMATION COM 114340102 709 122,200 SH SOLE 0 0 122,200 BROWN SHOE COMPANY COM 115736100 1,308 154,500 SH SOLE 0 0 154,500 CABELA'S INC COM 126804301 550 94,475 SH SOLE 0 0 94,475 CALAMP CORP COM 128126109 90 200,306 SH SOLE 0 0 200,306 CARNIVAL CRUISE LINES COM 143658300 301 12,380 SH SOLE 0 0 12,380 CARRIAGE SERVICES COM 143905107 112 55,750 SH SOLE 0 0 55,750 CBRE REALTY FINANCE COM 12498B307 6 38,200 SH SOLE 0 0 38,200 CBS CLASS B COM 124857202 103 12,600 SH SOLE 0 0 12,600 CENTRUE FINANCIAL COM 15643B106 78 12,800 SH SOLE 0 0 12,800 CHARLOTTE RUSSE HOLDING COM 161048103 434 67,000 SH SOLE 0 0 67,000 CHESAPEAKE ENERGY COM 165167107 526 32,550 SH SOLE 0 0 32,550 CHEVRON CORP COM 166764100 2,974 40,210 SH SOLE 0 0 40,210 CHICOS FAS COM 168615102 5,217 1,248,325 SH SOLE 0 0 1,248,325 CHRISTOPHER & BANKS COM 171046105 1,193 213,100 SH SOLE 0 0 213,100 CIMAREX ENERGY COM 171798101 263 9,850 SH SOLE 0 0 9,850 CISCO SYSTEMS COM 17275R102 510 31,291 SH SOLE 0 0 31,291 CITADEL BROADCASTING COM 17285T106 2 13,038 SH SOLE 0 0 13,038 CITIGROUP COM 172967101 1,457 217,151 SH SOLE 0 0 217,151 COACH INC COM 189754104 1,323 63,700 SH SOLE 0 0 63,700 COEUR D ALENE MINES COM 192108108 15 18,000 SH SOLE 0 0 18,000 CONCORD CAMERA NEW COM 206156200 78 31,880 SH SOLE 0 0 31,880 CONOCOPHILLIPS COM 20825C104 288 5,577 SH SOLE 0 0 5,577 COOLBRANDS INTERNATIONAL COM 21639P307 57 191,800 SH SOLE 0 0 191,800 CORNING COM 219350105 258 27,134 SH SOLE 0 0 27,134 COSTCO WHOLESALE COM 22160K105 488 9,300 SH SOLE 0 0 9,300 CRAWFORD & CO COM 224633107 2,300 158,200 SH SOLE 0 0 158,200 CRAFT BREWERS ALLIANCE COM 224122101 12 10,000 SH SOLE 0 0 10,000 DELL INC COM 24702R101 233 22,775 SH SOLE 0 0 22,775 DESIGN WITHIN REACH COM 250557105 20 30,000 SH SOLE 0 0 30,000 DISCOVER FINANCIAL SERVICES COM 254709108 195 20,500 SH SOLE 0 0 20,500 DISNEY WALT COM 254687106 3,976 175,250 SH SOLE 0 0 175,250 DONEGAL GROUP COM 257701201 500 29,830 SH SOLE 0 0 29,830 DOT HILL SYSTEMS COM 25848T109 228 285,050 SH SOLE 0 0 285,050 DOVER CORP COM 260003108 6,295 191,240 SH SOLE 0 0 191,240 DOW CHEMICAL COM 260543103 3,547 235,080 SH SOLE 0 0 235,080 DRESS BARN COM 261570105 1,722 160,400 SH SOLE 0 0 160,400 D R HORTON COM 23331A109 827 117,085 SH SOLE 0 0 117,085 DRUGSTORE.COM COM 262241102 79 64,200 SH SOLE 0 0 64,200 DUPONT COM 263534109 9,770 386,179 SH SOLE 0 0 386,179 EAGLE MATERIALS COM 26969P108 1,150 62,515 SH SOLE 0 0 62,515 EATON VANCE LTD DURATION INC COM 27828H105 510 51,603 SH SOLE 0 0 51,603 EL PASO CORPORATION COM 28336L109 198 25,300 SH SOLE 0 0 25,300 ENER1 INC COM 29267A203 192 26,975 SH SOLE 0 0 26,975 ENZO BIOCHEM COM 294100102 202 41,331 SH SOLE 0 0 41,331 ESTEE LAUDER COMPANIES COM 518439104 222 7,200 SH SOLE 0 0 7,200 ETHAN ALLEN INTERIORS COM 297602104 5,512 383,630 SH SOLE 0 0 383,630 EUROPEAN EQUITY FUND COM 298768102 1,917 351,760 SH SOLE 0 0 351,760 EV3 INC COM 26928A200 75 12,300 SH SOLE 0 0 12,300 EXCAPSA SOFTWARE COM 30066E107 2 38,000 SH SOLE 0 0 38,000 Shufro, Rose & CO LLC Page: 3 Form 13F Information Table As of Date: 12/31/2008 - 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 EXXON MOBIL COM 30231G102 24,321 304,660 SH SOLE 0 0 304,660 FEDERAL SIGNAL COM 313855108 3,753 457,130 SH SOLE 0 0 457,130 FINISH LINE CL A COM 317923100 118 21,200 SH SOLE 0 0 21,200 FIRST BANK OF DELAWARE COM 319307104 189 128,854 SH SOLE 0 0 128,854 FIRST HORIZON NATIONAL COM 320517105 108 10,280 SH SOLE 0 0 10,280 FIRST NATIONAL BANK ALASKA COM 32112J106 3,614 2,273 SH SOLE 0 0 2,273 FIRST CITIZENS BANCORP SC COM 319460101 1,687 4,781 SH SOLE 0 0 4,781 FLEXIINTERNATIONAL SOFTWARE COM 338923105 4 75,000 SH SOLE 0 0 75,000 FLEXTRONICS INTERNATIONAL LTD COM Y2573F102 3,075 1,201,549 SH SOLE 0 0 1,201,549 FOOT LOCKER COM 344849104 1,572 214,200 SH SOLE 0 0 214,200 FORD MOTOR CO COM 345370860 589 257,431 SH SOLE 0 0 257,431 FRANKLIN BANK COM 352451108 0 38,600 SH SOLE 0 0 38,600 FREIGHTCAR AMERICA COM 357023100 6,016 329,315 SH SOLE 0 0 329,315 FRIEDMAN INDUSTRIES COM 358435105 674 101,000 SH SOLE 0 0 101,000 FULL METAL MINERALS COM 35968C109 1 10,000 SH SOLE 0 0 10,000 GENERAL ELECTRIC COM 369604103 23,464 1,448,411 SH SOLE 0 0 1,448,411 GERON CORP COM 374163103 407 87,300 SH SOLE 0 0 87,300 GEVITY HR COM 374393106 54 36,000 SH SOLE 0 0 36,000 GIGA TRONICS COM 375175106 11 16,100 SH SOLE 0 0 16,100 GLATFELTER COM 377316104 269 29,000 SH SOLE 0 0 29,000 GLOBAL AIRCRAFT SOLUTIONS COM 378964100 0 30,000 SH SOLE 0 0 30,000 GLOBAL INDUSTRIES COM 379336100 104 30,000 SH SOLE 0 0 30,000 GOLFSMITH INTL COM 38168Y103 47 68,100 SH SOLE 0 0 68,100 GREATER CHINA FUND COM 39167B102 316 38,013 SH SOLE 0 0 38,013 GSI GROUP COM 36229U102 9 16,000 SH SOLE 0 0 16,000 GUARANTY BANCORP COM 40075T102 89 44,700 SH SOLE 0 0 44,700 HARDINGE INC COM 412324303 196 48,500 SH SOLE 0 0 48,500 HARLEYSVILLE NATIONAL COM 412850109 308 21,389 SH SOLE 0 0 21,389 HARRIS & HARRIS GROUP COM 413833104 2,497 632,200 SH SOLE 0 0 632,200 HCC INSURANCE HOLDINGS COM 404132102 1,708 63,880 SH SOLE 0 0 63,880 HEALTH FITNESS CORPORATION COM 42217V201 272 125,750 SH SOLE 0 0 125,750 HECLA MINING COM 422704106 193 69,000 SH SOLE 0 0 69,000 HEWLETT PACKARD COM 428236103 12,339 340,032 SH SOLE 0 0 340,032 HOME DEPOT COM 437076102 1,117 48,528 SH SOLE 0 0 48,528 H3 ENTERPRISES COM 404369100 0 13,000 SH SOLE 0 0 13,000 HUDSON HOLDING COM 443793104 3 15,000 SH SOLE 0 0 15,000 HUMAN GENOME SCIENCES COM 444903108 25 12,000 SH SOLE 0 0 12,000 ILLINOIS TOOL WORKS COM 452308109 5,828 166,290 SH SOLE 0 0 166,290 IMI PLC ORD 25P COM G47152106 472 120,000 SH SOLE 0 0 120,000 IMMUCELL CORP NEW COM 452525306 16 10,000 SH SOLE 0 0 10,000 INFOSONICS CORP COM 456784107 53 214,200 SH SOLE 0 0 214,200 INTEL COM 458140100 18,232 1,243,670 SH SOLE 0 0 1,243,670 INTL BUSINESS MACHINES COM 459200101 7,626 90,620 SH SOLE 0 0 90,620 INTL COAL GROUP COM 45928H106 551 239,885 SH SOLE 0 0 239,885 INTL FRONTIER RESOURCES COM 459976106 1 25,000 SH SOLE 0 0 25,000 INTL PAPER COM 460146103 9,454 801,266 SH SOLE 0 0 801,266 INTL RECTIFIER COM 460254105 6,438 476,930 SH SOLE 0 0 476,930 JABIL CIRCUIT COM 466313103 330 49,000 SH SOLE 0 0 49,000 JAPAN EQUITY FUND COM 471057109 4,575 922,531 SH SOLE 0 0 922,531 JAPAN SMALLER CAP FUND COM 47109U104 3,938 542,500 SH SOLE 0 0 542,500 JETBLUE AIRWAYS COM 477143101 99 14,000 SH SOLE 0 0 14,000 Shufro, Rose & CO LLC Page: 4 Form 13F Information Table As of Date: 12/31/2008 - 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 JOHNSON & JOHNSON COM 478160104 16,876 282,068 SH SOLE 0 0 282,068 KADANT COM 48282T104 6,092 451,995 SH SOLE 0 0 451,995 KELLY SERVICES CL A COM 488152208 3,898 299,625 SH SOLE 0 0 299,625 KEMET CORP COM 488360108 99 369,600 SH SOLE 0 0 369,600 KIMBERLY-CLARK COM 494368103 550 10,440 SH SOLE 0 0 10,440 KING PHARMACEUTICALS COM 495582108 254 24,000 SH SOLE 0 0 24,000 KLEGG ELECTRONICS COM 498499300 0 14,300 SH SOLE 0 0 14,300 KOHLS COM 500255104 857 23,700 SH SOLE 0 0 23,700 KRATOS DEFENSE & SECURITY COM 50077B108 1,762 1,258,800 SH SOLE 0 0 1,258,800 LAKELAND INDUSTRIES COM 511795106 893 110,413 SH SOLE 0 0 110,413 LATTICE INCORPORATED COM 518414107 2 33,835 SH SOLE 0 0 33,835 LECROY CORP COM 52324W109 30 10,000 SH SOLE 0 0 10,000 LEXINGTON PROPERTY TRUST COM 529043101 125 25,000 SH SOLE 0 0 25,000 LIBERTY MEDIA ENTERTAINMENT A COM 53071M500 375 21,504 SH SOLE 0 0 21,504 LIBERTY MEDIA HLDG INTRACTVE A COM 53071M104 125 40,196 SH SOLE 0 0 40,196 LILLY (ELI) & CO COM 532457108 212 5,278 SH SOLE 0 0 5,278 LSI CORPORATION COM 502161102 1,167 354,846 SH SOLE 0 0 354,846 LTX CREDENCE COM 502403108 28 105,836 SH SOLE 0 0 105,836 M & T BANK CORP COM 55261F104 4,448 77,487 SH SOLE 0 0 77,487 MANHATTAN PHARMACEUTICALS COM 563118207 0 10,000 SH SOLE 0 0 10,000 MATTSON TECHNOLOGY COM 577223100 112 80,000 SH SOLE 0 0 80,000 MCCORMICK SCHMICKS SEAFOOD RES COM 579793100 166 41,325 SH SOLE 0 0 41,325 MEADOWBROOK INSURANCE GROUP COM 58319P108 288 44,800 SH SOLE 0 0 44,800 MEDTRONIC COM 585055106 5,929 188,733 SH SOLE 0 0 188,733 MERCER INTERNATIONAL COM 588056101 19 10,000 SH SOLE 0 0 10,000 MERCK & CO COM 589331107 597 19,660 SH SOLE 0 0 19,660 MEREDITH CORP COM 589433101 5,372 313,790 SH SOLE 0 0 313,790 MERRILL LYNCH COM 590188108 1,502 129,089 SH SOLE 0 0 129,089 METLIFE COM 59156R108 8,011 229,805 SH SOLE 0 0 229,805 MICROSOFT COM 594918104 445 22,894 SH SOLE 0 0 22,894 MOBILE MINI COM 60740F105 6,713 465,600 SH SOLE 0 0 465,600 MODUSLINK GLOBAL SOLUTIONS COM 60786L107 259 89,680 SH SOLE 0 0 89,680 MONACO COACH COM 60886R103 291 572,465 SH SOLE 0 0 572,465 MONMOUTH REAL ESTATE INVT CORP COM 609720107 243 34,750 SH SOLE 0 0 34,750 JPMORGAN CHASE & CO COM 46625H100 11,817 374,792 SH SOLE 0 0 374,792 MORGAN STANLEY ASIA PACIFIC FD COM 61744U106 146 13,700 SH SOLE 0 0 13,700 MOVADO GROUP COM 624580106 225 24,000 SH SOLE 0 0 24,000 MUELLER WATER PRODUCTS COM 624758108 437 52,100 SH SOLE 0 0 52,100 MYLAN INC COM 628530107 9,315 941,930 SH SOLE 0 0 941,930 NAM TAI ELECTRONICS COM 629865205 646 117,600 SH SOLE 0 0 117,600 NANOPHASE TECHNOLOGIES COM 630079101 21 20,300 SH SOLE 0 0 20,300 NATIONAL WESTERN LIFE INSUR COM 638522102 7,800 46,109 SH SOLE 0 0 46,109 NAUTILUS GROUP COM 63910B102 26 12,000 SH SOLE 0 0 12,000 NAVARRE CORP COM 639208107 111 278,900 SH SOLE 0 0 278,900 NAVIOS MARITIME COM Y62196103 42 13,400 SH SOLE 0 0 13,400 NESTLE SA ADR COM 641069406 444 11,365 SH SOLE 0 0 11,365 NETGEAR INC COM 64111Q104 770 67,500 SH SOLE 0 0 67,500 NETWORK EQUIPMENT TECHNOLOGIES COM 641208103 2,605 904,800 SH SOLE 0 0 904,800 NEWCASTLE INVESTMENT COM 65105M108 24 28,700 SH SOLE 0 0 28,700 NEWPORT CORP COM 651824104 4,254 627,525 SH SOLE 0 0 627,525 NVIDIA COM 67066G104 290 36,000 SH SOLE 0 0 36,000 Shufro, Rose & CO LLC Page: 5 Form 13F Information Table As of Date: 12/31/2008 - 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 OFFICE DEPOT COM 676220106 820 275,500 SH SOLE 0 0 275,500 OLD REPUBLIC COM 680223104 1,099 92,281 SH SOLE 0 0 92,281 ON ASSIGNMENT COM 682159108 567 100,100 SH SOLE 0 0 100,100 ONE BEACON INSURANCE LTD COM G67742109 1,853 177,550 SH SOLE 0 0 177,550 OPNEXT INC COM 68375V105 98 56,000 SH SOLE 0 0 56,000 PACIFIC ASIA PETROLEUM COM 693864100 13 20,000 SH SOLE 0 0 20,000 PAMRAPO BANCORP COM 697738102 249 33,100 SH SOLE 0 0 33,100 PDI INC COM 69329V100 576 143,700 SH SOLE 0 0 143,700 PEPSICO INC COM 713448108 1,222 22,324 SH SOLE 0 0 22,324 PF CHANGS CHINA BISTRO COM 69333Y108 795 38,000 SH SOLE 0 0 38,000 PFIZER INC COM 717081103 11,349 640,873 SH SOLE 0 0 640,873 PHILIPS ELECTRONICS COM 500472303 466 23,462 SH SOLE 0 0 23,462 PIPER JAFFRAY COM 724078100 449 11,300 SH SOLE 0 0 11,300 PLANAR SYSTEMS COM 726900103 6 10,000 SH SOLE 0 0 10,000 PRIMEENERGY CORP COM 74158E104 1,130 21,770 SH SOLE 0 0 21,770 PROCTER & GAMBLE COM 742718109 335 5,435 SH SOLE 0 0 5,435 PROSHARES TR ULTRA FINANCIALS COM 74347R743 1,153 191,245 SH SOLE 0 0 191,245 PROSPECT CAPITAL COM 74348T102 675 56,400 SH SOLE 0 0 56,400 QUALCOMM COM 747525103 992 27,700 SH SOLE 0 0 27,700 RAMCO GERSHENSON PROPERTIES TR COM 751452202 317 51,300 SH SOLE 0 0 51,300 REGAL-BELOIT COM 758750103 4,591 120,850 SH SOLE 0 0 120,850 REPUBLIC FIRST BANCORP COM 760416107 269 30,658 SH SOLE 0 0 30,658 ROCKWELL AUTOMATION COM 773903109 8,268 256,465 SH SOLE 0 0 256,465 ROYAL DUTCH SHELL PLC ADR A COM 780259206 383 7,240 SH SOLE 0 0 7,240 SAKS INC COM 79377W108 1,075 245,521 SH SOLE 0 0 245,521 SALISBURY BANCORP COM 795226109 1,736 78,750 SH SOLE 0 0 78,750 SANOFI AVENTIS COM 80105N105 430 13,400 SH SOLE 0 0 13,400 SCHEIN (HENRY) COM 806407102 873 23,800 SH SOLE 0 0 23,800 SCHMITT INDUSTRIES COM 806870200 848 217,500 SH SOLE 0 0 217,500 SEAGATE TECHNOLOGY COM G7945J104 53 12,000 SH SOLE 0 0 12,000 SE FINANCIAL COM 78412R108 258 43,095 SH SOLE 0 0 43,095 SENECA FOODS NEW COM 817070501 546 26,400 SH SOLE 0 0 26,400 SILICON IMAGE COM 82705T102 174 41,500 SH SOLE 0 0 41,500 SILICON STORAGE TECHNOLOGY COM 827057100 454 198,600 SH SOLE 0 0 198,600 SIMPSON MANUFACTURING COM 829073105 8,505 306,395 SH SOLE 0 0 306,395 SIRIUS XM RADIO COM 82967N108 1 10,700 SH SOLE 0 0 10,700 SONOCO PRODUCTS COM 835495102 13,010 561,767 SH SOLE 0 0 561,767 SONOSITE COM 83568G104 1,100 57,690 SH SOLE 0 0 57,690 STRATTEC SECURITY COM 863111100 2,167 131,740 SH SOLE 0 0 131,740 SUPERIOR INDUSTRIES INTL COM 868168105 1,086 103,250 SH SOLE 0 0 103,250 SWISS HELVETIA FUND COM 870875101 7,056 567,722 SH SOLE 0 0 567,722 SYMMETRICOM INC COM 871543104 654 165,600 SH SOLE 0 0 165,600 SYNERON MEDICAL COM M87245102 196 23,600 SH SOLE 0 0 23,600 TARGET CORP COM 87612E106 565 16,364 SH SOLE 0 0 16,364 TASTY BAKING COM 876553306 38 11,500 SH SOLE 0 0 11,500 TELLABS COM 879664100 238 57,800 SH SOLE 0 0 57,800 TEMPLETON DRAGON FD COM 88018T101 769 44,600 SH SOLE 0 0 44,600 TERADYNE COM 880770102 3,723 882,275 SH SOLE 0 0 882,275 THERAVANCE INC COM 88338T104 185 15,000 SH SOLE 0 0 15,000 THERMO FISHER SCIENTIFIC COM 883556102 7,539 221,305 SH SOLE 0 0 221,305 THOR INDUSTRIES COM 885160101 245 18,600 SH SOLE 0 0 18,600 Shufro, Rose & CO LLC Page: 6 Form 13F Information Table As of Date: 12/31/2008 - 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 TIMBERLAND CO COM 887100105 207 18,000 SH SOLE 0 0 18,000 TIME WARNER COM 887317105 1,216 120,936 SH SOLE 0 0 120,936 TITANIUM METALS COM 888339207 1,704 193,500 SH SOLE 0 0 193,500 TRANSWITCH CORP COM 894065101 16 60,000 SH SOLE 0 0 60,000 TRINITY INDUSTRIES COM 896522109 523 33,200 SH SOLE 0 0 33,200 UNITED CAPITAL COM 909912107 325 17,950 SH SOLE 0 0 17,950 UNITEDHEALTH GROUP COM 91324P102 783 29,467 SH SOLE 0 0 29,467 UNITED PARCEL SERVICE COM 911312106 13,748 249,254 SH SOLE 0 0 249,254 U S CONCRETE COM 90333L102 50 15,000 SH SOLE 0 0 15,000 USEC INC COM 90333E108 53 12,000 SH SOLE 0 0 12,000 US GYPSUM COM 903293405 2,564 318,950 SH SOLE 0 0 318,950 UTSTARCOM INC COM 918076100 59 32,300 SH SOLE 0 0 32,300 VALENCE TECH COM 918914102 357 196,500 SH SOLE 0 0 196,500 VERIZON COMMUNICATIONS COM 92343V104 1,112 32,804 SH SOLE 0 0 32,804 VISHAY INTERTECHNOLOGY COM 928298108 335 98,100 SH SOLE 0 0 98,100 VITESSE SEMICONDUCTOR COM 928497106 473 1,314,103 SH SOLE 0 0 1,314,103 VODAFONE GROUP PLC NEW COM 92857W209 423 20,722 SH SOLE 0 0 20,722 WABASH NATIONAL COM 929566107 5,028 1,117,550 SH SOLE 0 0 1,117,550 WAL-MART STORES COM 931142103 20,012 356,975 SH SOLE 0 0 356,975 WARWICK VALLEY TELEPHONE COM 936750108 113 12,400 SH SOLE 0 0 12,400 WASHINGTON POST COM 939640108 2,192 5,619 SH SOLE 0 0 5,619 WATSON PHARMACEUTICALS COM 942683103 9,440 355,315 SH SOLE 0 0 355,315 WESTLAKE CHEMICAL COM 960413102 11,969 734,760 SH SOLE 0 0 734,760 WHIRLPOOL CORP COM 963320106 5,801 140,293 SH SOLE 0 0 140,293 WYETH COM 983024100 790 21,062 SH SOLE 0 0 21,062 XTO ENERGY COM 98385X106 712 20,200 SH SOLE 0 0 20,200 ZIMMER HOLDINGS COM 98956P102 209 5,187 SH SOLE 0 0 5,187 ZORAN COM 98975F101 164 24,100 SH SOLE 0 0 24,100 3COM COM 885535104 1,113 488,300 SH SOLE 0 0 488,300 3M COMPANY COM 88579Y101 21,659 376,431 SH SOLE 0 0 376,431 Line Count: 285