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
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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 88,815 212,400 SH   SOLE   212,400 0 0
ARROW ELECTRS INC COM 042735100 23,374 422,300 SH   SOLE   422,300 0 0
BANK OF AMERICA CORP COM 060505104 99,150 5,815,247 SH   SOLE   5,815,247 0 0
BANK NEW YORK MELLON CORP COM 064058100 95,885 2,475,721 SH   SOLE   2,475,721 0 0
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 31,164 225,600 SH   SOLE   225,600 0 0
CITIGROUP INC COM NEW 172967424 108,636 2,096,410 SH   SOLE   2,096,410 0 0
CNA FINL CORP COM 126117100 46,804 1,230,700 SH   SOLE   1,230,700 0 0
CORNING INC COM 219350105 77,602 4,012,500 SH   SOLE   4,012,500 0 0
GOLDMAN SACHS GROUP INC COM 38141G104 120,817 658,153 SH   SOLE   658,153 0 0
INGRAM MICRO INC CL A 457153104 49,674 1,924,600 SH   SOLE   1,924,600 0 0
KT CORP SPONSORED ADR 48268K101 53,977 3,329,856 SH   SOLE   3,329,856 0 0
LOEWS CORP COM 540424108 55,791 1,339,200 SH   SOLE   1,339,200 0 0
MICROSOFT CORP COM 594918104 115,773 2,497,256 SH   SOLE   2,497,256 0 0
MORGAN STANLEY COM NEW 617446448 106,093 3,068,941 SH   SOLE   3,068,941 0 0
POSCO SPONSORED ADR 693483109 58,891 775,900 SH   SOLE   775,900 0 0
SK TELECOM LTD SPONSORED ADR 78440P108 32,573 1,073,600 SH   SOLE   1,073,600 0 0
SUNTRUST BKS INC COM 867914103 45,697 1,201,600 SH   SOLE   1,201,600 0 0
VERIZON COMMUNICATIONS INC COM 92343V104 38,609 769,721 SH   SOLE   769,721 0 0