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
AMERICAN EXPRESS CO COM 025816109 4,978 67,200 SH   SOLE NONE 67,200 0 0
BED BATH & BEYOND INC COM 075896100 2,345 57,700 SH   SOLE NONE 57,700 0 0
CUMMINS INC COM 231021106 7,285 53,300 SH   SOLE NONE 53,300 0 0
DEERE & CO COM 244199105 14,616 141,850 SH   SOLE NONE 141,850 0 0
DIAMOND OFFSHORE DRILLING COM 25271C102 6,622 374,120 SH   SOLE NONE 374,120 0 0
INTERNATIONAL BUSINESS MACHS COM 459200101 6,689 40,300 SH   SOLE NONE 40,300 0 0
LEUCADIA NATL CORP COM 527288104 15,493 666,387 SH   SOLE NONE 666,387 0 0
TENARIS S A SPONSORED ADR 88031M109 4,053 113,500 SH   SOLE NONE 113,500 0 0
TERNIUM SA SPON ADR 880890108 9,274 384,037 SH   SOLE NONE 384,037 0 0