The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE
OMB APPROVAL
OMB Number: 3235-0006
Estimated average burden
hours per response: 23.8
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
AMERICAN TEL & TEL COM 30177109 583,357 16,479 SH   SOLE   16,479 0 0
ASTORIA FINANCIAL COM 46265104 190,644 17,685 SH   SOLE   17,685 0 0
AMBAC FINANCIAL COM 23139108 3,800 100,000 SH   SOLE   100,000 0 0
ASTEC INDUS COM 46224101 4,320,540 126,000 SH   SOLE   126,000 0 0
BANK OF AMERICA COM 60505104 733,291 57,021 SH   SOLE   57,021 0 0
BP PLC COM 55622104 3,193,110 76,500 SH   SOLE   76,500 0 0
BRISTOL MYERS SQUIBB COM 110122108 2,477,320 55,433 SH   SOLE   55,433 0 0
CFS BANCORP COM 12525D102 90,276 90,276 SH   SOLE   90,276 0 0
CITIGROUP COM 172967101 65,248,937 1,360,203 SH   SOLE   1,360,203 0 0
CHEVRONTEXACO COM 166764100 942,933 7,968 SH   SOLE   7,968 0 0
COMCAST CL A COM 20030N101 1,050,557 25,284 SH   SOLE   25,284 0 0
CTM MEDIA CL A COM 22944D104 454,556 10,378 SH   SOLE   10,378 0 0
DIME COMMUNITY BANC COM 253922108 898,931 58,677 SH   SOLE   58,677 0 0
EXXON MOBILE COM 30231G102 1,620,337 17,934 SH   SOLE   17,934 0 0
FIRST PLACE FINANCIAL COM 33610T109 64 13,426 SH   SOLE   13,426 0 0
FIRST NIAGARA FINANCIAL COM 33582V108 1,698,124 168,632 SH   SOLE   168,632 0 0
FLUSHING FINANCIAL COM 343873105 1,126,480 68,479 SH   SOLE   68,479 0 0
GENERAL ELECTRIC COM 369604103 347,850 15,000 SH   SOLE   15,000 0 0
GENIE ELECTRIC COM 903514344 6,073,962 663,821 SH   SOLE   663,821 0 0
HOLOGIC COM 436440101 29,758,091 1,541,870 SH   SOLE   1,541,870 0 0
IBM COM 459200101 627,414 3,283 SH   SOLE   3,283 0 0
IDT CORP CL B COM 448847309 12,507,404 669,203 SH   SOLE   669,203 0 0
KEYCORP NEW COM 493267108 287,437 26,036 SH   SOLE   26,036 0 0
LANDMARK SAVINGS BANK COM 514928100 1,898,157 87,513 SH   SOLE   87,513 0 0
MERCK COM 589331107 56,467,396 1,215,659 SH   SOLE   1,215,659 0 0
MONSANTO COM 66166W101 789,127 8,898 SH   SOLE   8,898 0 0
MBIA COM 55262C100 39,495,429 2,967,350 SH   SOLE   2,967,350 0 0
NAM TAI ELECT COM 629865205 20,926,738 3,736,917 SH   SOLE   3,736,917 0 0
NEW YORK COMMUNITY COM 649445103 56,087,331 4,006,237 SH   SOLE   4,006,237 0 0
NEWMARKET GROUP COM 651587107 303,256 1,155 SH   SOLE   1,155 0 0
NOVARTIS ADR COM 66987V109 2,147,321 30,368 SH   SOLE   30,368 0 0
NY TIMES CL A COM 650111107 59,567,037 5,385,808 SH   SOLE   5,385,808 0 0
OLD REPUBLIC COM 680223104 43,918,888 3,412,517 SH   SOLE   3,412,517 0 0
PHI INC NON-VOTING COM 716604202 1,021,454 29,780 SH   SOLE   29,780 0 0
PFIZER COM 717081103 71,190,826 2,541,622 SH   SOLE   2,541,622 0 0
PROVIDENT BANCORP COM 74383A109 10,637,495 1,139,040 SH   SOLE   1,139,040 0 0
PATTERSON ENERGY COM 703481101 37,546,378 1,939,880 SH   SOLE   1,939,880 0 0
QUESTAR CORP COM 748356102 380,408 15,950 SH   SOLE   15,950 0 0
SEABOARD CORP COM 811543107 39,211,060 14,004 SH   SOLE   14,004 0 0
SLM CORP COM 78443P106 34,246,580 1,518,301 SH   SOLE   1,518,301 0 0
TRINITY PLACE HOLDINGS COM 89656D101 2,183,211 442,842 SH   SOLE   442,842 0 0
RSTK TRINITY PLACE HLDGS COM 80656D911 3,700,532 750,615 SH   SOLE   750,615 0 0
TCF FINANCIAL COM 872275102 345,482 24,364 SH   SOLE   24,364 0 0
TRAVELERS COM 89417E109 159,840 2,000 SH   SOLE   2,000 0 0
USG INC COM 903293405 2,766,000 120,000 SH   SOLE   120,000 0 0
VOXX INTERNATIONAL COM 91829F104 28,679,800 2,337,392 SH   SOLE   2,337,392 0 0
VOLVO COM 928856400 133,050 10,000 SH   SOLE   10,000 0 0