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
ALLEGHANY CORP DEL COM 017175100 151,128 322,400 SH   SOLE   322,400 0 0
ARROW ELECTRS INC COM 042735100 47,731 855,400 SH   SOLE   855,400 0 0
BANK OF AMERICA CORP COM 060505104 152,687 8,971,047 SH   SOLE   8,971,047 0 0
BANK NEW YORK MELLON CORP COM 064058100 109,561 2,610,465 SH   SOLE   2,610,465 0 0
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 40,003 293,900 SH   SOLE   293,900 0 0
CITIGROUP INC COM NEW 172967424 176,227 3,190,210 SH   SOLE   3,190,210 0 0
CNA FINL CORP COM 126117100 63,161 1,653,000 SH   SOLE   1,653,000 0 0
CORNING INC COM 219350105 109,991 5,574,800 SH   SOLE   5,574,800 0 0
ENSCO PLC SHS CLASS A G3157S106 23,297 1,046,100 SH   SOLE   1,046,100 0 0
FRANKLIN RES INC COM 354613101 111,430 2,272,700 SH   SOLE   2,272,700 0 0
GOLDMAN SACHS GROUP INC COM 38141G104 205,440 983,953 SH   SOLE   983,953 0 0
HELMERICH & PAYNE INC COM 423452101 39,695 563,692 SH   SOLE   563,692 0 0
INGRAM MICRO INC CL A 457153104 89,239 3,565,300 SH   SOLE   3,565,300 0 0
JOY GLOBAL INC COM 481165108 37,532 1,036,800 SH   SOLE   1,036,800 0 0
KT CORP SPONSORED ADR 48268K101 78,439 6,190,946 SH   SOLE   6,190,946 0 0
LOEWS CORP COM 540424108 126,494 3,284,700 SH   SOLE   3,284,700 0 0
MICROSOFT CORP COM 594918104 86,191 1,952,229 SH   SOLE   1,952,229 0 0
MORGAN STANLEY COM NEW 617446448 139,727 3,602,141 SH   SOLE   3,602,141 0 0
PATTERSON UTI ENERGY INC COM 703481101 73,273 3,894,400 SH   SOLE   3,894,400 0 0
POSCO SPONSORED ADR 693483109 66,532 1,355,300 SH   SOLE   1,355,300 0 0
ROWAN COMPANIES PLC SHS CL A G7665A101 24,519 1,161,494 SH   SOLE   1,161,494 0 0
SK TELECOM LTD SPONSORED ADR 78440P108 12,033 485,400 SH   SOLE   485,400 0 0
SUNTRUST BKS INC COM 867914103 78,623 1,827,600 SH   SOLE   1,827,600 0 0
TENARIS SA SPONSORED ADR 88031M109 20,260 749,831 SH   SOLE   749,831 0 0
VALE SA ADR 91912E105 23,265 3,949,893 SH   SOLE   3,949,893 0 0
VERIZON COMMUNICATIONS INC COM 92343V104 67,511 1,448,421 SH   SOLE   1,448,421 0 0