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

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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
BANK AMER CORP COM 060505104 76,793 4,504,000 SH   SOLE   4,504,000 0 0
BERKSHIRE HATHAWAY INC DEL CL B 084670702 970 7,025 SH   SOLE   7,025 0 0
CITIGROUP INC COM 172967424 73,584 1,420,000 SH   SOLE   1,420,000 0 0
GENERAL MTRS CO COM 37045V100 744 23,305 SH   SOLE   23,305 0 0
GENERAL MTRS CO *W Exp 7/10/201 37045V126 85,820 5,935,015 SH   SOLE   5,935,015 0 0
HORSEHEAD HLDG CORP COM 440694305 104,689 6,333,296 SH   SOLE   6,333,296 0 0
POSCO SPONSORED ADR 693483109 70,787 932,634 SH   SOLE   932,634 0 0
WL ROSS HLDG CORP COM 92939D104 407 41,144 SH   SOLE   41,144 0 0
WL ROSS HLDG CORP UNIT 92939D203 157 14,711 SH   SOLE   14,711 0 0