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                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                  SCHEDULE 13G
                    UNDER THE SECURITIES EXCHANGE ACT OF 1934
                               (AMENDMENT NO. 5)*

                            CPI Aerostructures, Inc.
                                (Name of Issuer)

                          Common Stock, $.001 par value
                         (Title of Class of Securities)

                                    125919308
                                 (CUSIP Number)

                                 April 27, 2006
             (Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:

     [ ]  Rule 13d-1(b)

     [X]  Rule 13d-1(c)

     [ ]  Rule 13d-1(d)

*    The remainder of this cover page shall be filled out for a reporting
     person's initial filing on this form with respect to the subject class of
     securities, and for any subsequent amendment containing information which
     would alter the disclosures provided in a prior cover page.

The information required in the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).



CUSIP No. 125919308                    13G                    Page 2 of 10 Pages


--------------------------------------------------------------------------------
1.   Names of Reporting Persons.
     I.R.S. Identification Nos. of above persons (entities only).

     Midwood Capital Management LLC
--------------------------------------------------------------------------------
2.   Check the Appropriate Box if a Member of a Group (See Instructions)

     (a)  [ ]
     (b)  [ ]
--------------------------------------------------------------------------------
3.   SEC Use Only
--------------------------------------------------------------------------------
4.   Citizenship or Place of Organization

     Delaware
--------------------------------------------------------------------------------
                 5.   Sole Voting Power

                      614,549
                 ---------------------------------------------------------------
   Number of     6.   Shared Voting Power
    Shares
 Beneficially         0
   Owned by      ---------------------------------------------------------------
Each Reporting   7.   Sole Dispositive Power
  Person With
                      614,549
                 ---------------------------------------------------------------
                 8.   Shared Dispositive Power

                      0
--------------------------------------------------------------------------------
9.   Aggregate Amount Beneficially Owned by Each Reporting Person

     614,549
--------------------------------------------------------------------------------
10.  Check if the Aggregate Amount in Row (9) Excludes Certain Shares
     (See Instructions)                                                      [ ]
--------------------------------------------------------------------------------
11.  Percent of Class Represented by Amount in Row (9)

     11.3%
--------------------------------------------------------------------------------
12.  Type of Reporting Person (See Instructions)

     IA
--------------------------------------------------------------------------------



CUSIP No. 125919308                    13G                    Page 3 of 10 Pages


--------------------------------------------------------------------------------
1.   Names of Reporting Persons.
     I.R.S. Identification Nos. of above persons (entities only).

     David E. Cohen
--------------------------------------------------------------------------------
2.   Check the Appropriate Box if a Member of a Group (See Instructions)

     (a)  [ ]
     (b)  [ ]
--------------------------------------------------------------------------------
3.   SEC Use Only
--------------------------------------------------------------------------------
4.   Citizenship or Place of Organization

     USA
--------------------------------------------------------------------------------
                 5.   Sole Voting Power

                      0
                 ---------------------------------------------------------------
   Number of     6.   Shared Voting Power
    Shares
 Beneficially         614,549
   Owned by      ---------------------------------------------------------------
Each Reporting   7.   Sole Dispositive Power
  Person With
                      0
                 ---------------------------------------------------------------
                 8.   Shared Dispositive Power

                      614,549
--------------------------------------------------------------------------------
9.   Aggregate Amount Beneficially Owned by Each Reporting Person

     614,549
--------------------------------------------------------------------------------
10.  Check if the Aggregate Amount in Row (9) Excludes Certain Shares
     (See Instructions)                                                      [ ]
--------------------------------------------------------------------------------
11.  Percent of Class Represented by Amount in Row (9)

     11.3%
--------------------------------------------------------------------------------
12.  Type of Reporting Person (See Instructions)

     IN
--------------------------------------------------------------------------------



CUSIP No. 125919308                    13G                    Page 4 of 10 Pages


--------------------------------------------------------------------------------
1.   Names of Reporting Persons.
     I.R.S. Identification Nos. of above persons (entities only).

     Ross D. DeMont
--------------------------------------------------------------------------------
2.   Check the Appropriate Box if a Member of a Group (See Instructions)

     (a)  [ ]
     (b)  [ ]
--------------------------------------------------------------------------------
3.   SEC Use Only
--------------------------------------------------------------------------------
4.   Citizenship or Place of Organization

     USA
--------------------------------------------------------------------------------
                 5.   Sole Voting Power

                      0
                 ---------------------------------------------------------------
   Number of     6.   Shared Voting Power
    Shares
 Beneficially         614,549
   Owned by      ---------------------------------------------------------------
Each Reporting   7.   Sole Dispositive Power
  Person With
                      0
                 ---------------------------------------------------------------
                 8.   Shared Dispositive Power

                      614,549
--------------------------------------------------------------------------------
9.   Aggregate Amount Beneficially Owned by Each Reporting Person

     614,549
--------------------------------------------------------------------------------
10.  Check if the Aggregate Amount in Row (9) Excludes Certain Shares
     (See Instructions)                                                      [ ]
--------------------------------------------------------------------------------
11.  Percent of Class Represented by Amount in Row (9)

     11.3%
--------------------------------------------------------------------------------
12.  Type of Reporting Person (See Instructions)

     IN
--------------------------------------------------------------------------------



CUSIP No. 125919308                    13G                    Page 5 of 10 Pages


--------------------------------------------------------------------------------
1.   Names of Reporting Persons.
     I.R.S. Identification Nos. of above persons (entities only).

     Midwood Capital Partners, L.P.
--------------------------------------------------------------------------------
2.   Check the Appropriate Box if a Member of a Group (See Instructions)

     (a)  [ ]
     (b)  [ ]
--------------------------------------------------------------------------------
3.   SEC Use Only
--------------------------------------------------------------------------------
4.   Citizenship or Place of Organization

     Delaware
--------------------------------------------------------------------------------
                 5.   Sole Voting Power

                      273,443
                 ---------------------------------------------------------------
   Number of     6.   Shared Voting Power
    Shares
 Beneficially         0
   Owned by      ---------------------------------------------------------------
Each Reporting   7.   Sole Dispositive Power
  Person With
                      273,443
                 ---------------------------------------------------------------
                 8.   Shared Dispositive Power

                      0
--------------------------------------------------------------------------------
9.   Aggregate Amount Beneficially Owned by Each Reporting Person

     273,443
--------------------------------------------------------------------------------
10.  Check if the Aggregate Amount in Row (9) Excludes Certain Shares
     (See Instructions)                                                      [ ]
--------------------------------------------------------------------------------
11.  Percent of Class Represented by Amount in Row (9)

     5.0%
--------------------------------------------------------------------------------
12.  Type of Reporting Person (See Instructions)

     PN
--------------------------------------------------------------------------------



CUSIP No. 125919308                    13G                    Page 6 of 10 Pages


--------------------------------------------------------------------------------
1.   Names of Reporting Persons.
     I.R.S. Identification Nos. of above persons (entities only).

     Midwood Capital Partners QP, L.P.
--------------------------------------------------------------------------------
2.   Check the Appropriate Box if a Member of a Group (See Instructions)

     (a)  [ ]
     (b)  [ ]
--------------------------------------------------------------------------------
3.   SEC Use Only
--------------------------------------------------------------------------------
4.   Citizenship or Place of Organization

     Delaware
--------------------------------------------------------------------------------
                 5.   Sole Voting Power

                      341,106
                 ---------------------------------------------------------------
   Number of     6.   Shared Voting Power
    Shares
 Beneficially         0
   Owned by      ---------------------------------------------------------------
Each Reporting   7.   Sole Dispositive Power
  Person With
                      341,106
                 ---------------------------------------------------------------
                 8.   Shared Dispositive Power

                      0
--------------------------------------------------------------------------------
9.   Aggregate Amount Beneficially Owned by Each Reporting Person

     341,106
--------------------------------------------------------------------------------
10.  Check if the Aggregate Amount in Row (9) Excludes Certain Shares
     (See Instructions)                                                      [ ]
--------------------------------------------------------------------------------
11.  Percent of Class Represented by Amount in Row (9)

     6.3%
--------------------------------------------------------------------------------
12.  Type of Reporting Person (See Instructions)

     PN
--------------------------------------------------------------------------------


                                                                    Page 7 of 10


ITEM 1.

(a) NAME OF ISSUER: CPI Aerostructures, Inc. (the "Issuer").

(b) ADDRESS OF THE ISSUER'S PRINCIPAL EXECUTIVE OFFICES: 200A Executive Drive,
Edgewood, NY 11717.

ITEM 2.

(a) NAME OF PERSON FILING: This joint statement on Schedule 13G is being filed
by David E. Cohen, Ross D. DeMont, Midwood Capital Management LLC, Midwood
Capital Partners, L.P. and Midwood Capital Partners QP, L.P., who are
collectively referred to as the "Reporting Persons." Messrs. Cohen and DeMont
(the "Managers") are the managers of Midwood Capital Management LLC ("Capital"),
which is the sole general partner of each of Midwood Capital Partners, L.P.
("LP") and Midwood Capital Partners QP, L.P. ("QP" and together with LP, the
"Funds"). The Reporting Persons have entered into a Joint Filing Agreement,
dated as of December 9, 2005, a copy of which is filed with this Schedule 13G as
Exhibit 1 (which is incorporated herein by reference), pursuant to which the
Reporting Persons have agreed to file this statement jointly in accordance with
the provisions of Rule 13d-1(k) under the Act.

(b) ADDRESS OF PRINCIPAL BUSINESS OFFICE: The principal business office of the
Reporting Persons with respect to the shares reported hereunder is 575 Boylston
St., 4th Floor, Boston, MA 02116.

(c) CITIZENSHIP: Capital is a Delaware limited liability company. Each of the
Funds is a Delaware limited partnership. Each of the Managers is a U.S. citizen.

(d) TITLE AND CLASS OF SECURITIES: Common stock, $.001 par value ("Common
Stock")

(e) CUSIP Number: 125919308

ITEM 3. IF THIS STATEMENT IS FILED PURSUANT TO SECTIONS 240.13D-1(B) OR
240.13D-2(B) OR (C), CHECK WHETHER THE PERSON FILING IS A:

NA

ITEM 4. OWNERSHIP

In the aggregate, the Reporting Persons beneficially own 614,549 shares of the
Common Stock of the Issuer, representing approximately 11.3% of such class of
securities. The beneficial ownership of each Reporting Person is as follows: (i)
LP beneficially owns 273,443 shares of the Common Stock, representing
approximately 5.0% of the class, (ii) QP beneficially owns 341,106 shares of the
Common Stock, representing approximately 6.3% of the class, and (iii) Capital,
as the sole general partner of each Fund, and Messrs. Cohen and DeMont, as the
managers of Capital, each beneficially own 614,549 shares of the Common Stock of
the Issuer representing approximately 11.3% of the class. The percentage of the
Common Stock beneficially owned by each Reporting Person is based on a total of
5,447,042 shares of the Common Stock of the Issuer



                                                                    Page 8 of 10


outstanding as of March 24, 2006, as reported in the most recent annual report
of the Issuer on Form 10-K for the fiscal year ended December 31, 2005.

Each Fund has the power to vote and dispose of the shares of Common Stock
beneficially owned by such Fund (as described above). Capital, as the sole
general partner of the Fund, has the sole authority to vote and dispose of all
of the shares of Common Stock reported in this Schedule 13G. Each of the
Managers, by virtue of their positions as managers of Capital, has the shared
authority to vote and dispose of all of the shares of Common Stock reported in
this joint statement Schedule 13G.

ITEM 5. OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS

N/A

ITEM 6. OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON

NA

ITEM 7. IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED THE
SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY OR CONTROL PERSON

NA

ITEM 8. IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP

NA

ITEM 9. NOTICE OF DISSOLUTION OF GROUP

NA

ITEM 10. CERTIFICATION

By signing below I hereby certify that, to the best of my knowledge and belief,
the securities referred to above were not acquired and are not held for the
purpose of or with the effect of changing or influencing the control of the
issuer of the securities and were not acquired and are not held in connection
with or as a participant in any transaction having that purpose.



                                                                    Page 9 of 10


                                    Signature

     After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete and
correct.

                                        DATE: May 3, 2006

                                        MIDWOOD CAPITAL PARTNERS, L.P.

                                        By: Midwood Capital Management LLC
                                            General Partner


                                        By: /s/ David E. Cohen
                                            ------------------------------------
                                            David E. Cohen
                                            Manager


                                        MIDWOOD CAPITAL PARTNERS QP, L.P.

                                        By: Midwood Capital Management LLC
                                            General Partner


                                        By: /s/ David E. Cohen
                                            ------------------------------------
                                            David E. Cohen
                                            Manager


                                        MIDWOOD CAPITAL MANAGEMENT, LLC


                                        By: /s/ David E. Cohen
                                            ------------------------------------
                                            David E. Cohen
                                            Manager



                                                                   Page 10 of 10


                                        DAVID E. COHEN


                                        /s/ David E. Cohen
                                        ----------------------------------------
                                        David E. Cohen


                                        ROSS D. DEMONT


                                        /s/ Ross D. DeMont
                                        ----------------------------------------
                                        Ross D. DeMont



                                                                     Page 1 of 2


                                    Exhibit 1

                             JOINT FILING AGREEMENT

Pursuant to Rule 13d-1(k)(1) under the Securities Exchange Act of 1934, as
amended, the undersigned hereby agree, as of December 9, 2005, that only one
statement containing the information required by Schedule 13G, and each
amendment thereto, need be filed with respect to the ownership by each of the
undersigned of shares of common stock of CPI Aerostructures, Inc., and such
statement to which this Joint Filing Agreement is attached as Exhibit 1 is filed
on behalf of each of the undersigned.

                                        MIDWOOD CAPITAL PARTNERS, L.P.

                                        By: Midwood Capital Management LLC
                                            General Partner


                                        By: /s/ David E. Cohen
                                            ------------------------------------
                                            David E. Cohen
                                            Manager


                                        MIDWOOD CAPITAL PARTNERS QP, L.P.

                                        By: Midwood Capital Management LLC
                                            General Partner


                                        By: /s/ David E. Cohen
                                            ------------------------------------
                                            David E. Cohen
                                            Manager


                                        MIDWOOD CAPITAL MANAGEMENT, LLC


                                        By: /s/ David E. Cohen
                                            ------------------------------------
                                            David E. Cohen
                                            Manager



                                                                     Page 2 of 2


                                        DAVID E. COHEN


                                        /s/ David E. Cohen
                                        ----------------------------------------
                                        David E. Cohen


                                        ROSS D. DEMONT


                                        /s/ Ross D. DeMont
                                        ----------------------------------------
                                        Ross D. DeMont