13F-HR 1 shufrorose12312009.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, 2009 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, 2010 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: 12/31/09 RUN DATE: 2/11/10 12:00 P.M. REPORT SUMMARY: NUMBER OF OTHER INCLUDED MANAGERS: 0 FORM 13F INFORMATION TABLE ENTRY TOTAL: 234 FORM 13F INFORMATION TABLE VALUE TOTAL: $640,133,680.98 LIST OF OTHER INCLUDED MANAGERS: NO. 13F FILE NUMBER NAME Shufro, Rose & CO LLC Page: 1 Form 13F Information Table As of Date: 12/31/2009 - 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 MUNIHOLDINGS NY INSD FUND 09255C106 147 11,171 SH SOLE 0 0 11,171 BLACKROCK MUNIYIELD NY INSD FD FUND 09255E102 259 22,000 SH SOLE 0 0 22,000 VAN KAMPEN TR FOR INVESTMENT FUND 920929106 286 20,680 SH SOLE 0 0 20,680 VAN KAMPEN TR FOR INVESTMENT FUND 920931102 164 11,573 SH SOLE 0 0 11,573 WESTERN ASSET MUN PARTNERS FD FUND 95766P108 225 16,900 SH SOLE 0 0 16,900 NETWORK EQP CV 7.25% 5-15-14 CONV BND 641208AA1 2,977 3,346,000 PRN SOLE 0 0 3,346,000 ROYAL BANK SCOTLAND 6.40% PFD PFD 780097796 704 67,100 SH SOLE 0 0 67,100 BLACKROCK FLT RT STRATEGIES FD FUND 09255X100 919 64,600 SH SOLE 0 0 64,600 DREYFUS HIGH YIELD STRATEGIES FUND 26200S101 56 15,000 SH SOLE 0 0 15,000 DWS MULTI MKT INCOME TR FUND 23338L108 359 41,800 SH SOLE 0 0 41,800 EATON VANCE LTD DURATION INC FUND 27828H105 696 46,751 SH SOLE 0 0 46,751 1ST TR / 4 CORNERS SR FLOAT FD FUND 33733U108 274 23,100 SH SOLE 0 0 23,100 NUVEEN (JTP) QLTY PFD INC FUND FUND 67071S101 116 17,800 SH SOLE 0 0 17,800 NUVEEN (JHP) QLTY PFD INC FD 3 FUND 67072W101 138 19,850 SH SOLE 0 0 19,850 NUVEEN MULTI-STRATEGY INCOME & FUND 67073B106 74 10,000 SH SOLE 0 0 10,000 NUVEEN MULTI-STRATEGY INC AND FUND 67073D102 125 16,300 SH SOLE 0 0 16,300 PIMCO FLOATING RATE INCOME FD FUND 72201H108 203 18,000 SH SOLE 0 0 18,000 PUTNAM PREMIER INCOME TRUST FUND 746853100 109 17,920 SH SOLE 0 0 17,920 COHEN & STEERS REIT & UTIL FND FUND 19247Y108 217 20,500 SH SOLE 0 0 20,500 WESTERN ASSET GLBL PTNS INC FD FUND 95766G108 209 18,200 SH SOLE 0 0 18,200 AUDIOCODES LTD ORD COM M15342104 25 10,000 SH SOLE 0 0 10,000 ACUSPHERE INC COM 00511R870 1 16,000 SH SOLE 0 0 16,000 ADAPTEC COM 00651F108 334 99,800 SH SOLE 0 0 99,800 AGILYSYS COM 00847J105 7,915 869,850 SH SOLE 0 0 869,850 AGRIUM INC COM 008916108 10,869 176,735 SH SOLE 0 0 176,735 AMERICAN EAGLE OUTFITTERS COM 02553E106 393 23,200 SH SOLE 0 0 23,200 AMERICAN EXPRESS COM 025816109 1,502 37,090 SH SOLE 0 0 37,090 AMERICAN SOFTWARE COM 029683109 153 25,550 SH SOLE 0 0 25,550 AMGEN INC COM 031162100 213 3,775 SH SOLE 0 0 3,775 APPLE COMPUTER COM 037833100 217 1,030 SH SOLE 0 0 1,030 APPLIED MATERIALS COM 038222105 1,784 127,982 SH SOLE 0 0 127,982 AT&T INC COM 00206R102 1,098 39,182 SH SOLE 0 0 39,182 ATLANTIC AMERICAN CORP COM 048209100 104 81,800 SH SOLE 0 0 81,800 AUTOMATIC DATA PROCESSING COM 053015103 4,434 103,550 SH SOLE 0 0 103,550 AVX COM 002444107 8,717 688,040 SH SOLE 0 0 688,040 BAFFINLAND IRON MINES COM 056620107 4 10,000 SH SOLE 0 0 10,000 BANK OF AMERICA COM 060505104 1,404 93,285 SH SOLE 0 0 93,285 BANK OF NEW YORK MELLON COM 064058100 669 23,928 SH SOLE 0 0 23,928 BAR HARBOR BANKSHARES COM 066849100 5,985 218,050 SH SOLE 0 0 218,050 BERKSHIRE BANCORP COM 084597202 450 75,070 SH SOLE 0 0 75,070 BERKSHIRE HATHAWAY A SHARES COM 084670108 992 10 SH SOLE 0 0 10 BERKSHIRE HATHAWAY B SHARES COM 084670207 6,437 1,959 SH SOLE 0 0 1,959 BIODELIVERY SCIENCES INTL COM 09060J106 196 49,900 SH SOLE 0 0 49,900 BNCCORP INC COM 055936108 21 11,500 SH SOLE 0 0 11,500 BOSTON PRIVATE FINANCIAL HLDGS COM 101119105 91 15,900 SH SOLE 0 0 15,900 BP PLC COM 055622104 1,366 23,565 SH SOLE 0 0 23,565 BRESLER & REINER COM 107336109 22 12,600 SH SOLE 0 0 12,600 BRISTOL-MYERS SQUIBB COM 110122108 509 20,194 SH SOLE 0 0 20,194 BROOKS AUTOMATION COM 114340102 370 43,200 SH SOLE 0 0 43,200 BROWN SHOE COMPANY COM 115736100 2,579 261,300 SH SOLE 0 0 261,300 CABELA'S INC COM 126804301 1,144 80,240 SH SOLE 0 0 80,240 Shufro, Rose & CO LLC Page: 2 Form 13F Information Table As of Date: 12/31/2009 - 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 CALAMP CORP COM 128126109 56 16,300 SH SOLE 0 0 16,300 CARNIVAL CRUISE LINES COM 143658300 362 11,450 SH SOLE 0 0 11,450 CARRIAGE SERVICES COM 143905107 199 50,750 SH SOLE 0 0 50,750 CBS CLASS B COM 124857202 147 10,500 SH SOLE 0 0 10,500 CENTRUE FINANCIAL COM 15643B106 38 14,300 SH SOLE 0 0 14,300 CHESAPEAKE ENERGY COM 165167107 715 27,650 SH SOLE 0 0 27,650 CHEVRON CORP COM 166764100 3,117 40,493 SH SOLE 0 0 40,493 CHICOS FAS COM 168615102 10,690 760,925 SH SOLE 0 0 760,925 CIMAREX ENERGY COM 171798101 274 5,183 SH SOLE 0 0 5,183 CISCO SYSTEMS COM 17275R102 667 27,896 SH SOLE 0 0 27,896 CITADEL BROADCASTING COM 17285T106 0 12,317 SH SOLE 0 0 12,317 CITIGROUP COM 172967101 657 198,554 SH SOLE 0 0 198,554 COCA-COLA COM 191216100 222 3,910 SH SOLE 0 0 3,910 COMCAST NEW CLASS A COM 20030N101 310 18,415 SH SOLE 0 0 18,415 COMMERCIAL METALS COM 201723103 757 48,400 SH SOLE 0 0 48,400 CONOCOPHILLIPS COM 20825C104 544 10,663 SH SOLE 0 0 10,663 COOLBRANDS INTERNATIONAL COM 21639P307 172 153,500 SH SOLE 0 0 153,500 CORNING COM 219350105 424 21,983 SH SOLE 0 0 21,983 COSTCO WHOLESALE COM 22160K105 520 8,800 SH SOLE 0 0 8,800 CVS CAREMARK COM 126650100 1,857 57,655 SH SOLE 0 0 57,655 DELL INC COM 24702R101 294 20,475 SH SOLE 0 0 20,475 DISNEY WALT COM 254687106 5,269 163,406 SH SOLE 0 0 163,406 DONEGAL GROUP COM 257701201 413 26,630 SH SOLE 0 0 26,630 DOT HILL SYSTEMS COM 25848T109 106 56,150 SH SOLE 0 0 56,150 DOVER CORP COM 260003108 8,281 199,020 SH SOLE 0 0 199,020 D R HORTON COM 23331A109 231 21,255 SH SOLE 0 0 21,255 DRUGSTORE.COM COM 262241102 65 21,200 SH SOLE 0 0 21,200 DUPONT COM 263534109 12,198 362,307 SH SOLE 0 0 362,307 EAGLE MATERIALS COM 26969P108 1,524 58,520 SH SOLE 0 0 58,520 EL PASO CORPORATION COM 28336L109 273 27,800 SH SOLE 0 0 27,800 EMERSON ELECTRIC COM 291011104 230 5,400 SH SOLE 0 0 5,400 ENERGY TRANSFER PARTNERS COM 29273R109 219 4,890 SH SOLE 0 0 4,890 ENER1 INC COM 29267A203 214 33,875 SH SOLE 0 0 33,875 ENZO BIOCHEM COM 294100102 152 28,369 SH SOLE 0 0 28,369 ETHAN ALLEN INTERIORS COM 297602104 4,396 327,615 SH SOLE 0 0 327,615 EUROPEAN EQUITY FUND COM 298768102 2,130 303,075 SH SOLE 0 0 303,075 EXCAPSA SOFTWARE COM 30066E107 0 38,000 SH SOLE 0 0 38,000 EXELON CORP COM 30161N101 25,000 511,570 SH SOLE 0 0 511,570 EXXON MOBIL COM 30231G102 19,994 293,223 SH SOLE 0 0 293,223 FIRST BANK OF DELAWARE COM 319307104 147 118,307 SH SOLE 0 0 118,307 FIRST CITIZENS BANCORP SC COM 319460101 1,867 4,611 SH SOLE 0 0 4,611 FIRST NATIONAL BANK ALASKA COM 32112J106 3,691 2,140 SH SOLE 0 0 2,140 FLEXIINTERNATIONAL SOFTWARE COM 338923105 11 75,000 SH SOLE 0 0 75,000 FLEXTRONICS INTERNATIONAL LTD COM Y2573F102 8,072 1,104,377 SH SOLE 0 0 1,104,377 FORD MOTOR CO COM 345370860 132 13,202 SH SOLE 0 0 13,202 FREIGHTCAR AMERICA COM 357023100 7,511 378,780 SH SOLE 0 0 378,780 FRIEDMAN INDUSTRIES COM 358435105 664 114,000 SH SOLE 0 0 114,000 FULL METAL MINERALS COM 35968C109 1 10,000 SH SOLE 0 0 10,000 GAMESTOP CLASS A COM 36467W109 1,568 71,508 SH SOLE 0 0 71,508 GARMIN LTD COM G37260109 241 7,880 SH SOLE 0 0 7,880 GENERAL ELECTRIC COM 369604103 24,628 1,627,767 SH SOLE 0 0 1,627,767 Shufro, Rose & CO LLC Page: 3 Form 13F Information Table As of Date: 12/31/2009 - 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 GERON CORP COM 374163103 589 106,200 SH SOLE 0 0 106,200 GREATER CHINA FUND COM 39167B102 1,071 77,009 SH SOLE 0 0 77,009 GUARANTY BANCORP COM 40075T102 41 31,200 SH SOLE 0 0 31,200 HARDINGE INC COM 412324303 211 38,400 SH SOLE 0 0 38,400 HARRIS & HARRIS GROUP COM 413833104 2,864 626,900 SH SOLE 0 0 626,900 HARRY WINSTON DIAMOND COM 41587B100 118 12,500 SH SOLE 0 0 12,500 HCC INSURANCE HOLDINGS COM 404132102 1,647 58,910 SH SOLE 0 0 58,910 HEALTH FITNESS CORPORATION COM 42217V201 1,248 162,400 SH SOLE 0 0 162,400 OPKO HEALTH INC COM 68375N103 18 10,000 SH SOLE 0 0 10,000 HECLA MINING COM 422704106 64 10,500 SH SOLE 0 0 10,500 HEWLETT PACKARD COM 428236103 16,372 317,844 SH SOLE 0 0 317,844 HOME DEPOT COM 437076102 1,189 41,118 SH SOLE 0 0 41,118 HUDSON HOLDING COM 443793104 24 87,000 SH SOLE 0 0 87,000 ILLINOIS TOOL WORKS COM 452308109 7,703 160,525 SH SOLE 0 0 160,525 IMMUCELL CORP NEW COM 452525306 37 10,000 SH SOLE 0 0 10,000 INFOSONICS CORP COM 456784107 28 27,500 SH SOLE 0 0 27,500 INTEL COM 458140100 23,143 1,134,499 SH SOLE 0 0 1,134,499 INTL BUSINESS MACHINES COM 459200101 1,820 13,905 SH SOLE 0 0 13,905 INTL COAL GROUP COM 45928H106 843 218,595 SH SOLE 0 0 218,595 INTL FRONTIER RESOURCES COM 459976106 1 25,000 SH SOLE 0 0 25,000 INTL PAPER COM 460146103 19,750 737,496 SH SOLE 0 0 737,496 INTL RECTIFIER COM 460254105 9,670 437,165 SH SOLE 0 0 437,165 ISTA PHARMACEUTICALS COM 45031X204 68 15,000 SH SOLE 0 0 15,000 JACOBS ENGINEERING GROUP COM 469814107 8,833 234,865 SH SOLE 0 0 234,865 JAPAN EQUITY FUND COM 471057109 4,934 941,701 SH SOLE 0 0 941,701 JAPAN SMALLER CAP FUND COM 47109U104 3,473 474,550 SH SOLE 0 0 474,550 JETBLUE AIRWAYS COM 477143101 87 16,000 SH SOLE 0 0 16,000 JOHNSON & JOHNSON COM 478160104 20,778 322,601 SH SOLE 0 0 322,601 JOY GLOBAL COM 481165108 655 12,700 SH SOLE 0 0 12,700 KADANT COM 48282T104 8,296 519,830 SH SOLE 0 0 519,830 KELLY SERVICES CL A COM 488152208 7,430 622,800 SH SOLE 0 0 622,800 KEMET CORP COM 488360108 567 476,700 SH SOLE 0 0 476,700 KIMBERLY-CLARK COM 494368103 1,372 21,550 SH SOLE 0 0 21,550 KRATOS DEFENSE & SEC SOLUTIONS COM 50077B207 1,843 174,750 SH SOLE 0 0 174,750 KREISLER MANUFACTURING COM 500773106 47 10,500 SH SOLE 0 0 10,500 LAKELAND INDUSTRIES COM 511795106 2,195 274,497 SH SOLE 0 0 274,497 LEGEND INTERNATIONAL HOLDINGS COM 52467C100 28 20,000 SH SOLE 0 0 20,000 LEGG MASON COM 524901105 292 9,700 SH SOLE 0 0 9,700 LEXINGTON PROPERTY TRUST COM 529043101 166 27,325 SH SOLE 0 0 27,325 LIBERTY MEDIA HLDG INTRACTVE A COM 53071M104 208 19,250 SH SOLE 0 0 19,250 LSI CORPORATION COM 502161102 164 27,410 SH SOLE 0 0 27,410 LTX CREDENCE COM 502403108 29 16,701 SH SOLE 0 0 16,701 M & T BANK CORP COM 55261F104 1,638 24,500 SH SOLE 0 0 24,500 MARTEK BIOSCIENCES COM 572901106 614 32,450 SH SOLE 0 0 32,450 MCCORMICK SCHMICKS SEAFOOD RES COM 579793100 343 49,300 SH SOLE 0 0 49,300 MEADOWBROOK INSURANCE GROUP COM 58319P108 368 49,800 SH SOLE 0 0 49,800 MEDTRONIC COM 585055106 9,787 222,546 SH SOLE 0 0 222,546 MERCK & CO INC COM 58933Y105 771 21,125 SH SOLE 0 0 21,125 MEREDITH CORP COM 589433101 9,192 297,990 SH SOLE 0 0 297,990 MERITOR SAVINGS BANK COM 590007100 1,286 473,000 SH SOLE 0 0 473,000 METLIFE COM 59156R108 8,239 233,070 SH SOLE 0 0 233,070 Shufro, Rose & CO LLC Page: 4 Form 13F Information Table As of Date: 12/31/2009 - 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 MFS INTERMED INCOME TRUST COM 55273C107 119 17,900 SH SOLE 0 0 17,900 MICROSOFT COM 594918104 638 20,947 SH SOLE 0 0 20,947 MOBILE MINI COM 60740F105 6,748 478,980 SH SOLE 0 0 478,980 MONMOUTH REAL ESTATE INVT CORP COM 609720107 225 30,350 SH SOLE 0 0 30,350 JPMORGAN CHASE & CO COM 46625H100 14,558 349,384 SH SOLE 0 0 349,384 MUELLER WATER PRODUCTS COM 624758108 286 55,000 SH SOLE 0 0 55,000 MYLAN INC COM 628530107 205 11,130 SH SOLE 0 0 11,130 NAM TAI ELECTRONICS COM 629865205 64 12,300 SH SOLE 0 0 12,300 NANOPHASE TECHNOLOGIES COM 630079101 16 19,300 SH SOLE 0 0 19,300 NATIONAL WESTERN LIFE INSUR COM 638522102 9,070 52,245 SH SOLE 0 0 52,245 NAVARRE CORP COM 639208107 50 24,000 SH SOLE 0 0 24,000 NAVIOS MARITIME COM Y62196103 144 23,900 SH SOLE 0 0 23,900 NESTLE SA ADR COM 641069406 422 8,708 SH SOLE 0 0 8,708 NEWCASTLE INVESTMENT COM 65105M108 28 13,500 SH SOLE 0 0 13,500 NEWPORT CORP COM 651824104 6,786 738,475 SH SOLE 0 0 738,475 OFFICE DEPOT COM 676220106 627 97,300 SH SOLE 0 0 97,300 OLD REPUBLIC COM 680223104 727 72,500 SH SOLE 0 0 72,500 OMEGA PROTEIN COM 68210P107 661 151,700 SH SOLE 0 0 151,700 ON ASSIGNMENT COM 682159108 89 12,500 SH SOLE 0 0 12,500 ONE BEACON INSURANCE LTD COM G67742109 2,106 152,850 SH SOLE 0 0 152,850 OPNEXT INC COM 68375V105 36 19,400 SH SOLE 0 0 19,400 PACIFIC ASIA PETROLEUM COM 693864100 326 70,000 SH SOLE 0 0 70,000 PAMRAPO BANCORP COM 697738102 236 30,100 SH SOLE 0 0 30,100 PDL BIOPHARMA COM 69329Y104 102 15,000 SH SOLE 0 0 15,000 PENN VIRGINIA GP HOLDINGS COM 70788P105 905 54,300 SH SOLE 0 0 54,300 PEPSICO INC COM 713448108 1,236 20,337 SH SOLE 0 0 20,337 PETROLEUM DEVELOPMENT COM 716578109 1,165 64,000 SH SOLE 0 0 64,000 PFIZER INC COM 717081103 10,554 580,211 SH SOLE 0 0 580,211 PHILIPS ELECTRONICS COM 500472303 314 10,684 SH SOLE 0 0 10,684 POWERSHARES QQQ TRUST SERIES 1 COM 73935A104 289 6,305 SH SOLE 0 0 6,305 PRIMEENERGY CORP COM 74158E104 1,037 28,500 SH SOLE 0 0 28,500 PROCTER & GAMBLE COM 742718109 277 4,575 SH SOLE 0 0 4,575 PROSPECT CAPITAL COM 74348T102 1,570 133,000 SH SOLE 0 0 133,000 QUALCOMM COM 747525103 1,031 22,300 SH SOLE 0 0 22,300 RAMCO GERSHENSON PROPERTIES TR COM 751452202 436 45,800 SH SOLE 0 0 45,800 REGAL-BELOIT COM 758750103 3,537 68,100 SH SOLE 0 0 68,100 ROCKWELL AUTOMATION COM 773903109 13,921 296,337 SH SOLE 0 0 296,337 ROYAL DUTCH SHELL PLC ADR A COM 780259206 355 5,910 SH SOLE 0 0 5,910 ST JOE CO COM 790148100 242 8,390 SH SOLE 0 0 8,390 SAKS INC COM 79377W108 1,420 216,571 SH SOLE 0 0 216,571 SALISBURY BANCORP COM 795226109 1,604 73,750 SH SOLE 0 0 73,750 SANOFI AVENTIS COM 80105N105 424 10,800 SH SOLE 0 0 10,800 SCHEIN (HENRY) COM 806407102 820 15,600 SH SOLE 0 0 15,600 SCHLUMBERGER LTD COM 806857108 215 3,310 SH SOLE 0 0 3,310 SCHMITT INDUSTRIES COM 806870200 770 220,000 SH SOLE 0 0 220,000 SEABOARD CORP COM 811543107 215 160 SH SOLE 0 0 160 SE FINANCIAL COM 78412R108 192 38,595 SH SOLE 0 0 38,595 SENECA FOODS NEW COM 817070501 909 38,100 SH SOLE 0 0 38,100 SILICON STORAGE TECHNOLOGY COM 827057100 43 17,000 SH SOLE 0 0 17,000 SIMPSON MANUFACTURING COM 829073105 8,560 318,345 SH SOLE 0 0 318,345 SONOCO PRODUCTS COM 835495102 16,913 578,235 SH SOLE 0 0 578,235 Shufro, Rose & CO LLC Page: 5 Form 13F Information Table As of Date: 12/31/2009 - 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 SONOSITE COM 83568G104 1,232 52,175 SH SOLE 0 0 52,175 STRATTEC SECURITY COM 863111100 3,590 194,055 SH SOLE 0 0 194,055 SUPERIOR INDUSTRIES INTL COM 868168105 2,864 187,250 SH SOLE 0 0 187,250 SWISS HELVETIA FUND COM 870875101 6,505 559,822 SH SOLE 0 0 559,822 SYMMETRICOM INC COM 871543104 582 112,000 SH SOLE 0 0 112,000 SYNERON MEDICAL COM M87245102 127 12,200 SH SOLE 0 0 12,200 SYSCO CORP COM 871829107 312 11,190 SH SOLE 0 0 11,190 TARGET CORP COM 87612E106 777 16,064 SH SOLE 0 0 16,064 TELLABS COM 879664100 258 45,475 SH SOLE 0 0 45,475 TEMPLETON DRAGON FD COM 88018T101 945 34,700 SH SOLE 0 0 34,700 TERADYNE COM 880770102 1,633 152,240 SH SOLE 0 0 152,240 THERMO FISHER SCIENTIFIC COM 883556102 10,130 212,425 SH SOLE 0 0 212,425 TIME WARNER CABLE COM 88732J207 389 9,406 SH SOLE 0 0 9,406 TIME WARNER COM 887317303 1,065 36,572 SH SOLE 0 0 36,572 TRINITY INDUSTRIES COM 896522109 317 18,200 SH SOLE 0 0 18,200 UNITED CAPITAL COM 909912107 365 15,350 SH SOLE 0 0 15,350 UNITED PARCEL SERVICE COM 911312106 14,152 246,691 SH SOLE 0 0 246,691 US GYPSUM COM 903293405 4,343 309,130 SH SOLE 0 0 309,130 VALENCE TECH COM 918914102 19 21,000 SH SOLE 0 0 21,000 VERIZON COMMUNICATIONS COM 92343V104 1,000 30,207 SH SOLE 0 0 30,207 VISHAY INTERTECHNOLOGY COM 928298108 96 11,500 SH SOLE 0 0 11,500 VITESSE SEMICONDUCTOR COM 928497106 74 293,900 SH SOLE 0 0 293,900 VODAFONE GROUP PLC NEW COM 92857W209 490 21,226 SH SOLE 0 0 21,226 WABASH NATIONAL COM 929566107 1,574 833,000 SH SOLE 0 0 833,000 WAL-MART STORES COM 931142103 18,871 353,073 SH SOLE 0 0 353,073 WARWICK VALLEY TELEPHONE COM 936750108 161 12,400 SH SOLE 0 0 12,400 WASHINGTON POST COM 939640108 2,252 5,125 SH SOLE 0 0 5,125 WESTLAKE CHEMICAL COM 960413102 11,280 452,475 SH SOLE 0 0 452,475 WHIRLPOOL CORP COM 963320106 9,774 121,176 SH SOLE 0 0 121,176 3M COMPANY COM 88579Y101 30,006 362,972 SH SOLE 0 0 362,972 Line Count: 234