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 77,416 176,700 SH   SOLE   176,700 0 0
ARROW ELECTRS INC COM 042735100 21,349 353,400 SH   SOLE   353,400 0 0
BANK OF AMERICA CORP COM 060505104 74,524 4,848,647 SH   SOLE   4,848,647 0 0
BANK NEW YORK MELLON CORP COM 064058100 77,180 2,059,221 SH   SOLE   2,059,221 0 0
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 23,970 189,400 SH   SOLE   189,400 0 0
CITIGROUP INC COM NEW 172967424 74,499 1,581,710 SH   SOLE   1,581,710 0 0
CNA FINL CORP COM 126117100 41,576 1,028,600 SH   SOLE   1,028,600 0 0
CORNING INC COM 219350105 72,646 3,309,600 SH   SOLE   3,309,600 0 0
GOLDMAN SACHS GROUP INC COM 38141G104 91,615 547,153 SH   SOLE   547,153 0 0
INGRAM MICRO INC CL A 457153104 46,768 1,601,100 SH   SOLE   1,601,100 0 0
KT CORP SPONSORED ADR 48268K101 39,896 2,635,156 SH   SOLE   2,635,156 0 0
LOEWS CORP COM 540424108 48,970 1,112,700 SH   SOLE   1,112,700 0 0
MICROSOFT CORP COM 594918104 86,651 2,077,956 SH   SOLE   2,077,956 0 0
MORGAN STANLEY COM NEW 617446448 82,737 2,559,141 SH   SOLE   2,559,141 0 0
NORTHROP GRUMMAN CORP COM 666807102 16,844 140,800 SH   SOLE   140,800 0 0
POSCO SPONSORED ADR 693483109 48,140 646,700 SH   SOLE   646,700 0 0
SK TELECOM LTD SPONSORED ADR 78440P108 39,535 1,524,100 SH   SOLE   1,524,100 0 0
SUNTRUST BKS INC COM 867914103 46,385 1,157,900 SH   SOLE   1,157,900 0 0
THOMSON REUTERS CORP COM 884903105 12,036 330,000 SH   SOLE   330,000 0 0
VERIZON COMMUNICATIONS INC COM 92343V104 31,447 641,775 SH   SOLE   641,775 0 0