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

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COLUMN 1COLUMN 2COLUMN 3COLUMN 4COLUMN 5COLUMN 6COLUMN 7COLUMN 8
VALUESHRS ORSH/PUT/INVESTMENTOTHERVOTING AUTHORITY
NAME OF ISSUERTITLE OF CLASSCUSIP(x$1000)PRN AMTPRNCALLDISCRETIONMANAGERSOLESHAREDNONE
AMERICAN TEL & TELCOM030177109394,72812,587SH SOLE 12,58700
ASSURED GUARANTYCOMG0585R10655,071,8741,239,520SH SOLE 1,239,52000
BANK OF AMERICACOM060505104333,78412,098SH SOLE 12,09800
BP PLCCOM05562210459,939,9881,370,997SH SOLE 1,370,99700
BRISTOL MYERS SQUIBBCOM11012210824,062,538504,350SH SOLE 504,35000
BLACKBERRYCOM09228F10346,028,8154,561,825SH SOLE 4,561,82500
CITIGROUPCOM17296710157,281,426920,627SH SOLE 920,62700
CHEVRONTEXACOCOM166764100510,9514,148SH SOLE 4,14800
COMCAST CL ACOM20030N10165,8071,664SH SOLE 1,66400
CREW ENERGYCOM2265331076,3157,500SH SOLE 7,50000
EXXON MOBILECOM30231G1021,581,57919,574SH SOLE 19,57400
GENIE ENERGYCOM9035143443,325,829391,274SH SOLE 391,27400
GLAXOSMITHKLINECOM37733W10553,347,0241,276,550SH SOLE 1,276,55000
HOLOGICCOM43644010116,477,490340,444SH SOLE 340,44400
IDT CORP CL BCOM4488473094,190,862631,154SH SOLE 631,15400
IDW MEDIACOM44951N1061,810,05072,722SH SOLE 72,72200
MERCKCOM58933110769,146,317831,385SH SOLE 831,38500
MBIACOM55262C10042,006,8294,412,482SH SOLE 4,412,48200
NAM TAI PPTYCOMG6390710218,486,5291,876,529SH SOLE 1,876,80500
NAVIENTCOM63938C108294,52625,456SH SOLE 25,45600
NEW YORK COMMUNITYCOM64944510349,599,7984,286,931SH SOLE 4,286,93100
NOVARTIS ADRCOM66987V1092,186,60822,744SH SOLE 22,74400
NY TIMES CL ACOM65011110722,092,019672,512SH SOLE 672,51200
OLD REPUBLICCOM6802231041,022,98848,900SH SOLE 48,90000
PFIZERCOM71708110322,661,525533,589SH SOLE 533,58900
PATTERSON ENERGYCOM70348110123,961,9881,709,129SH SOLE 1,709,12900
RAFAEL HOLDINGCOM75062E1063,947,243312,035SH SOLE 312,03500
SEABOARD CORPCOM81154310731,385,4277,325SH SOLE 7,32500
STERLING BANCORPCOM85917A1008,430,987452,549SH SOLE 452,54900
TRINITY PLACE HOLDINGSCOM89656D1013,806,928951,732SH SOLE 951,73200
VOXX INTERNATIONALCOM91829F10416,344,4373,537,757SH SOLE 3,537,75700
ZEDGE INC.COM98923T104236,273132,738SH SOLE 132,73800