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 4,897 52,500 SH   SOLE NONE 52,500 0 0
BED BATH & BEYOND INC COM 075896100 4,045 192,700 SH   SOLE NONE 192,700 0 0
DEERE & CO COM 244199105 7,665 49,350 SH   SOLE NONE 49,350 0 0
DIAMOND OFFSHORE DRILLING COM 25271C102 13,494 920,455 SH   SOLE NONE 920,455 0 0
LEUCADIA NATL CORP COM 527288104 8,364 367,962 SH   SOLE NONE 367,962 0 0
LOEWS CORP COM 540424108 7,758 156,000 SH   SOLE NONE 156,000 0 0
MARKEL CORP COM 570535104 8,835 7,550 SH   SOLE NONE 7,550 0 0
TENARIS S A SPONSORED ADR 88031M109 3,460 99,800 SH   SOLE NONE 99,800 0 0
TERNIUM SA SPON ADR 880890108 2,931 90,201 SH   SOLE NONE 90,201 0 0