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 59,111 145,100 SH   SOLE   145,100 0 0
ARROW ELECTRS INC COM 042735100 17,493 294,700 SH   SOLE   294,700 0 0
BANK OF AMERICA CORP COM 060505104 61,883 3,597,847 SH   SOLE   3,597,847 0 0
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 19,783 158,300 SH   SOLE   158,300 0 0
BANK NEW YORK MELLON CORP COM 064058100 60,138 1,704,121 SH   SOLE   1,704,121 0 0
CITIGROUP INC COM NEW 172967424 62,109 1,304,810 SH   SOLE   1,304,810 0 0
CNA FINL CORP COM 126117100 36,269 849,000 SH   SOLE   849,000 0 0
CORNING INC COM 219350105 64,879 3,116,200 SH   SOLE   3,116,200 0 0
GOLDMAN SACHS GROUP INC COM 38141G104 69,301 422,953 SH   SOLE   422,953 0 0
HEWLETT PACKARD CO COM 428236103 19,568 604,686 SH   SOLE   604,686 0 0
INGRAM MICRO INC CL A 457153104 34,168 1,155,900 SH   SOLE   1,155,900 0 0
KT CORP SPONSORED ADR 48268K101 22,082 1,589,800 SH   SOLE   1,589,800 0 0
LOCKHEED MARTIN CORP COM 539830109 28,828 176,600 SH   SOLE   176,600 0 0
LOEWS CORP COM 540524108 22,695 515,200 SH   SOLE   515,200 0 0
MICROSOFT CORP COM 594918104 70,349 1,716,256 SH   SOLE   1,716,256 0 0
MORGAN STANLEY COM NEW 617446448 65,817 2,111,541 SH   SOLE   2,111,541 0 0
NABORS INDUSTRIES LTD SHS G6359F103 63,156 2,562,100 SH   SOLE   2,562,100 0 0
NORTHROP GRUMMAN CORP COM 666807102 31,709 257,000 SH   SOLE   257,000 0 0
PATTERSON UTI ENERGY INC COM 703481101 10,464 330,301 SH   SOLE   330,301 0 0
POSCO SPONSORED ADR 693483109 37,100 534,500 SH   SOLE   534,500 0 0
SK TELECOM LTD SPONSORED ADR 78440P108 28,459 1,260,900 SH   SOLE   1,260,900 0 0
SUNTRUST BKS INC COM 867914103 38,027 955,700 SH   SOLE   955,700 0 0
THOMSON REUTERS CORP COM 884903105 9,367 273,600 SH   SOLE   273,600 0 0
VERIZON COMMUNICATIONS INC COM 92343V104 18,538 388,810 SH   SOLE   388,810 0 0