FORM 13F
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 13F COVER PAGE
Report for the Calendar Year or Quarter Ended June 30, 2010
Check here if Amendment: [ ]; Amendment Number:
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This Amendment:
[ ] is a restatement.
[ ] adds new holdings entries.
Institutional Investment Manager Filing this Report:
Name: Loews Corporation
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Address: 667 Madison Avenue New York New York 10065
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(Street) (City) (State) (Zip)
Form 13F File Number: 28-217
The institutional investment manager filing this report and the person by whom
it is signed hereby represent that the person signing the report is authorized
to submit it, that all information contained herein is true, correct and
complete, and that it is understood that all required items, statements,
schedules, lists and tables are considered integral parts of this form.
Person Signing this Report on Behalf of Reporting Manager:
Name: Gary W. Garson
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Title: General Counsel and Senior Vice President
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Phone: 212-521-2932
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Signature, Place, and Date of Signing:
/s/ Gary W. Garson
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(Signature)
Place: 667 Madison Avenue New York New York 10065
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(Street) (City) (State) (Zip)
Date: August 12, 2010
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Page 1 of 15
Loews Corporation ("Loews"), by virtue of its approximately 90% ownership of
voting securities of CNA Financial Corporation whose business address is 333
South Wabash Avenue, Chicago, Illinois 60604 ("CNA"), may be deemed to have
investment discretion regarding certain securities (the "CNA Securities") as
to which investment discretion is deemed to be exercised by CNA. CNA is
reporting on behalf of Loews regarding the CNA Securities.
Report Type:
[ ] 13F HOLDINGS REPORT.
[ ] 13F NOTICE.
[X] 13F COMBINATION REPORT.
List of Other Managers Reporting for this Manager.
Form 13F File Number: 28-346
Name: CNA Financial Corporation
Page 2 of 15
FORM 13F SUMMARY PAGE
REPORT SUMMARY
Number of Other Included Managers: NONE.
Form 13F Information Table Entry Total: 153
Form 13F Information Table Value Total: $14,069.1 (million)
List of Other Included Managers: NONE.
Page 3 of 15
Column Column Column Column Column Column Column Column
1: 2: 3: 4: 5: 6: 7: 8:
Title Shares or Voting Authority(Shares)
of CUSIP Value Principal Investment Other -------------------------
Name of Issuer Class Number (x$1000) Amount SH/PRN Put/Call Discretion Managers Sole Shared None
ABBOTT LABS Common 002824100 6,549 140,000 SH Sole 140,000
ALCATEL-LUCENT- Common 013904305 108 42,652 SH Sole 42,652
SPONSORED
ALLSTATE CORP Common 020002101 6,769 235,606 SH Sole 235,606
ALVARION LIMITED Common M0861T100 1,208 598,000 SH Sole 598,000
AMERICAN EQUITY INVT Common 025676206 109 10,544 SH Sole 10,544
LIFE HL
ANADARKO PETE CORP Common 032511107 480 13,300 SH Sole 13,300
APACHE CORP Common 037411105 343 4,080 SH Sole 4,080
ASSURANT INC Common 04621X108 3,470 100,000 SH Sole 100,000
AURIZON MINES LTD Common 05155P106 2,066 416,899 SH Sole 416,899
AUTOMATIC DATA Common 053015103 805 20,000 SH Sole 20,000
PROCESSING
BANK OF AMERICA Common 060505104 239 16,628 SH Sole 16,628
BANK OF NEW YORK Common 064058100 304 12,295 SH Sole 12,295
MELLON CORP
BARRICK GOLD CORP Common 067901108 11,425 251,586 SH Sole 251,586
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TOTAL $ 33,875
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Page 4 of 15 Pages
Column Column Column Column Column Column Column Column
1: 2: 3: 4: 5: 6: 7: 8:
Title Shares or Voting Authority(Shares)
of CUSIP Value Principal Investment Other -------------------------
Name of Issuer Class Number (x$1000) Amount SH/PRN Put/Call Discretion Managers Sole Shared None
BAXTER INTERNATIONAL Common 071813109 626 15,398 SH Sole 15,398
INC
BEMIS COMPANY Common 081437105 4,050 150,000 SH Sole 150,000
BLOCK H & R INC Common 093671105 4,393 280,000 SH Sole 280,000
BOARDWALK PIPELINE Common 096627104 3,089,802 102,719,466 SH Sole 102,719,466
PARTNERS
BROADRIDGE FINANCIAL Common 11133T103 10,775 565,600 SH Sole 565,600
SOLUTIONS
BROCADE COMM SYS INC Common 111621306 929 180,000 SH Sole 180,000
CALPINE CORP Common 131347304 194 15,245 SH Sole 15,245
CAMECO CORP Common 13321L108 851 40,000 SH Sole 40,000
CF INDUSTRIES Common 125269100 5,711 90,000 SH Sole 90,000
HOLDINGS INC
CHENIERE ENERGY INC Common 16411R208 34 12,200 SH Sole 12,200
CIBER INC Common 17163B102 39 13,991 SH Sole 13,991
CIENA CORP Common 171779309 888 70,000 SH Sole 70,000
CISCO SYS INC Common 17275R102 1,066 50,000 SH Sole 50,000
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TOTAL $ 3,119,358
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Page 5 of 15 Pages
Column Column Column Column Column Column Column Column
1: 2: 3: 4: 5: 6: 7: 8:
Title Shares or Voting Authority(Shares)
of CUSIP Value Principal Investment Other -------------------------
Name of Issuer Class Number (x$1000) Amount SH/PRN Put/Call Discretion Managers Sole Shared None
CITIGROUP INC Common 172967101 143 38,066 SH Sole 38,066
CLIFFS NATURAL Common 18683K101 943 20,000 SH Sole 20,000
RESOURCES INC
CNA FINL CORP Common 126117100 6,195,301 242,382,673 SH Sole 242,382,673
COMCAST CORP NEW Common 20030N200 2,859 174,000 SH Sole 174,000
CVS CAREMARK CORP Common 126650100 2,932 100,000 SH Sole 100,000
DEVON ENERGY Common 25179M103 457 7,500 SH Sole 7,500
CORPORATION
DIAMOND OFFSHORE Common 25271C102 4,359,806 70,104,620 SH Sole 70,104,620
DRILLING INC
DRESSER-RAND GROUP Common 261608103 1,104 35,000 SH Sole 35,000
INC
DU PONT E I DE Common 263534109 7,956 230,000 SH Sole 230,000
NEMOURS & CO
DYNEGY INC -CL A Common 26817G300 385 100,012 SH Sole 100,012
E M C CORP MASS Common 268648102 3,942 215,420 SH Sole 215,420
EBAY INC Common 278642103 1,667 85,000 SH Sole 85,000
ENERGIZER HLDGS INC Common 29266R108 4,324 86,000 SH Sole 86,000
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TOTAL $ 10,581,819
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Page 6 of 15 Pages
Column Column Column Column Column Column Column Column
1: 2: 3: 4: 5: 6: 7: 8:
Title Shares or Voting Authority(Shares)
of CUSIP Value Principal Investment Other -------------------------
Name of Issuer Class Number (x$1000) Amount SH/PRN Put/Call Discretion Managers Sole Shared None
ENSCO INTL INC Common 29358Q109 467 11,900 SH Sole 11,900
EXETER RESOURE CORP Common 301835104 3,974 593,958 SH Sole 593,958
EXXON MOBIL CORP Common 30231G102 215 3,775 SH Sole 3,775
FINISAR CORPORATION Common 31787A507 1,699 114,000 SH Sole 114,000
GAMESTOP CORP Common 36467W109 1,879 100,000 SH Sole 100,000
GAMMON GOLD INC Common 36467T106 2,700 494,423 SH Sole 494,423
GENUINE PARTS CO Common 372460105 5,523 140,000 SH Sole 140,000
GOLDCORP INC NEW Common 380956409 6,841 156,000 SH Sole 156,000
GREEN PLAINS Common 393222104 1,720 168,300 SH Sole 168,300
RENEWABLE ENERG
HARTE-HANKS INC Common 416196103 112 10,764 SH Sole 10,764
HEWLETT PACKARD CO Common 428236103 260 6,000 SH Sole 6,000
INGERSOLL-RAND PLC Common G47791101 246 7,120 SH Sole 7,120
INTEL CORP Common 458140100 5,835 300,000 SH Sole 300,000
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TOTAL $ 31,471
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Page 7 of 15 Pages
Column Column Column Column Column Column Column Column
1: 2: 3: 4: 5: 6: 7: 8:
Title Shares or Voting Authority(Shares)
of CUSIP Value Principal Investment Other -------------------------
Name of Issuer Class Number (x$1000) Amount SH/PRN Put/Call Discretion Managers Sole Shared None
INTERNATIONAL Common 459200101 6,865 55,599 SH Sole 55,599
BUSINESS MACHS
JAGUAR MINING INC Common 47009M103 9,390 987,629 SH Sole 987,629
JDS UNIPHASE CORP Common 46612J507 3,346 340,000 SH Sole 340,000
JOHNSON & JOHNSON Common 478160104 659 11,163 SH Sole 11,163
KIMBER RESOURCES INC Common 49435N101 516 641,515 SH Sole 641,515
KIMBERLY-CLARK CORP Common 494368103 6,063 100,000 SH Sole 100,000
KOBEX MINERALS INC Common 49989C105 183 238,285 SH Sole 238,285
KRAFT FOODS INC Common 50075N104 7,382 263,625 SH Sole 263,625
LEXMARK INTL NEW Common 529771107 1,652 50,000 SH Sole 50,000
LINCOLN NATL CORP IND Common 534187109 437 18,000 SH Sole 18,000
LOCKHEED MARTIN Common 539830109 5,588 75,000 SH Sole 75,000
LOWES COS INC Common 548661107 1,429 70,000 SH Sole 70,000
MAG SILVER CORP Common 55903Q104 2,189 331,200 SH Sole 331,200
MARTIN MARIETTA Common 573284106 3,409 40,200 SH Sole 40,200
MATERIALS
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TOTAL $ 49,108
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Page 8 of 15 Pages
Column Column Column Column Column Column Column Column
1: 2: 3: 4: 5: 6: 7: 8:
Title Shares or Voting Authority(Shares)
of CUSIP Value Principal Investment Other -------------------------
Name of Issuer Class Number (x$1000) Amount SH/PRN Put/Call Discretion Managers Sole Shared None
MASCO CORP Common 574599106 131 12,150 SH Sole 12,150
MEDIACOM Common 58446K105 228 34,000 SH Sole 34,000
COMMUNICATIONS CORP
MICROSOFT CORP Common 594918104 5,730 249,007 SH Sole 249,007
MIDWAY GOLD CORP Common 598153104 92 197,679 SH Sole 197,679
MINEFINDERS CORP Common 602900102 3,783 421,487 SH Sole 421,487
MOTOROLA INC Common 620076109 119 18,268 SH Sole 18,268
NATIONAL OILWELL Common 637071101 1,157 35,000 SH Sole 35,000
VARCO INC
NATL PENN BCSHS INC Common 637138108 63 10,400 SH Sole 10,400
NEW GOLD INC Common 644535106 1,005 162,302 SH Sole 162,302
NEWELL RUBBERMAID INC Common 651229106 4,392 300,000 SH Sole 300,000
NORTHROP GRUMMAN Common 666807102 209 3,841 SH Sole 3,841
CORP
NOVAGOLD RES INC Convert 66987EAA5 3,958 4,000,000 PRN Sole 4,000,000
NOTE 5.5% 5/1/15
NOVAGOLD Common 66987E206 7,291 1,044,557 SH Sole 1,044,557
RESOURCES INC
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TOTAL $ 28,158
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Page 9 of 15 Pages
Column Column Column Column Column Column Column Column
1: 2: 3: 4: 5: 6: 7: 8:
Title Shares or Voting Authority(Shares)
of CUSIP Value Principal Investment Other -------------------------
Name of Issuer Class Number (x$1000) Amount SH/PRN Put/Call Discretion Managers Sole Shared None
NYSE EURONEXT Common 629491101 2,763 100,000 SH Sole 100,000
OCCIDENTAL Common 674599105 918 11,900 SH Sole 11,900
PETROLEUM CORP
ORACLE CORP Common 68389X105 1,351 62,950 SH Sole 62,950
PFIZER INC Common 717081103 692 48,530 SH Sole 48,530
PITNEY BOWES INC Common 724479100 5,615 255,693 SH Sole 255,693
POPULAR INC Common 733174106 39 14,458 SH Sole 14,458
PPL CORP Common 69351T106 666 26,701 SH Sole 26,701
PROGRESS ENERGY INC Common 743263105 266 6,790 SH Sole 6,790
PRUDENTIAL FINANCIAL Common 744320102 1,342 25,000 SH Sole 25,000
INC
REINSURANCE GROUP Common 759351604 366 8,000 SH Sole 8,000
OF AMERICA
RITE AID CORP Common 767754104 41 42,245 SH Sole 42,245
RPM INTL INC Common 749685103 3,036 170,200 SH Sole 170,200
RUBICON MINERALS CORP Common 780911103 1,772 481,250 SH Sole 481,250
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TOTAL $ 18,867
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Page 10 of 15 Pages
Column Column Column Column Column Column Column Column
1: 2: 3: 4: 5: 6: 7: 8:
Title Shares or Voting Authority(Shares)
of CUSIP Value Principal Investment Other -------------------------
Name of Issuer Class Number (x$1000) Amount SH/PRN Put/Call Discretion Managers Sole Shared None
SEALED AIR CORP NEW Common 81211K100 3,352 170,000 SH Sole 170,000
SILICON IMAGE INC Common 82705T102 1,334 380,000 SH Sole 380,000
SILVER STANDARD Common 82823L106 428 23,971 SH Sole 23,971
RESOURCES
SONOCO PRODUCTS CO Common 835495102 3,048 100,000 SH Sole 100,000
SPDR KBW BANK ETF Common 78464A797 6,867 300,000 SH Sole 300,000
STILLWATER MNG CO Common 86074Q102 349 30,000 SH Sole 30,000
SYMANTEC CORP Common 871503108 208 15,000 SH Sole 15,000
TALISMAN ENERGY INC Common 87425E103 735 48,450 SH Sole 48,450
THORATEC CORP Common 885175307 5,043 118,022 SH Sole 118,022
TRAVELERS COS Common 89417E109 17,533 356,000 SH Sole 356,000
INC
TREX COMPANY INC Common 89531P105 1,858 92,500 SH Sole 92,500
UBS AG Common H89231338 147 11,125 SH Sole 11,125
UNITED PARCEL SERVICE Common 911312106 2,845 50,000 SH Sole 50,000
INC
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TOTAL $ 43,747
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Page 11 of 15 Pages
Column Column Column Column Column Column Column Column
1: 2: 3: 4: 5: 6: 7: 8:
Title Shares or Voting Authority(Shares)
of CUSIP Value Principal Investment Other -------------------------
Name of Issuer Class Number (x$1000) Amount SH/PRN Put/Call Discretion Managers Sole Shared None
UNITED STATES STL Common 912909108 1,157 30,000 SH Sole 30,000
CORP NEW
VALIDUS HOLDINGS LTD Common G9319H102 554 22,703 SH Sole 22,703
VARIAN MED SYS INC Common 92220P105 1,046 20,000 SH Sole 20,000
VULCAN MATERIALS Common 929160109 1,753 40,000 SH Sole 40,000
WASTE MANAGEMENT INC Common 94106L109 6,258 200,000 SH Sole 200,000
WENDY'S/ARBY'S Common 950587105 1,200 300,000 SH Sole 300,000
GROUP INC-A
WESTERN DIGITAL CORP Common 958102105 3,304 109,550 SH Sole 109,550
WESTPORT Common 960908309 2,529 161,200 SH Sole 161,200
INNOVATIONS INC
WHITING PETE CORP Common 966387102 400 5,100 SH Sole 5,100
NEW
WILLIAMS COS INC DEL Common 969457100 236 12,892 SH Sole 12,892
XCEL ENERGY INC Common 98389B100 200 9,720 SH Sole 9,720
XEROX CORP Common 984121103 7,324 911,000 SH Sole 911,000
ZHONE TECHNOLOGIES Common 98950P884 1,073 720,380 SH Sole 720,380
INC
ZOLTEK COMPANIES INC Common 98975W104 500 59,000 SH Sole 59,000
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TOTAL $ 27,534
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Page 12 of 15 Pages
Column Column Column Column Column Column Column Column
1: 2: 3: 4: 5: 6: 7: 8:
Title Shares or Voting Authority(Shares)
of CUSIP Value Principal Investment Other -------------------------
Name of Issuer Class Number (x$1000) Amount SH/PRN Put/Call Discretion Managers Sole Shared None
ALLSTATE CORP Common 020002901 1,149 40,000 SH Call Sole 40,000
ALLSTATE CORP Common 020002951 5,746 200,000 SH Put Sole 200,000
AUTOMATIC DATA Common 053015953 4,831 120,000 SH Put Sole 120,000
PROCESSING
BARRICK GOLD CORP Common 067901908 7,266 160,000 SH Call Sole 160,000
BARRICK GOLD CORP Common 067901958 14,531 320,000 SH Put Sole 320,000
BROCADE COMM SYS INC Common 111621906 1,032 200,000 SH Call Sole 200,000
CAMECO CORP Common 13321L958 2,979 140,000 SH Put Sole 140,000
CIENA CORP Common 171779909 127 10,000 SH Call Sole 10,000
CIENA CORP Common 171779959 1,268 100,000 SH Put Sole 100,000
CLIFFS NATURAL Common 18683K951 5,659 120,000 SH Put Sole 120,000
RESOURCES INC
DISNEY WALT CO Common 254687906 3,150 100,000 SH Call Sole 100,000
DISNEY WALT CO Common 254687956 3,150 100,000 SH Put Sole 100,000
DU PONT E I DE Common 263534959 4,151 120,000 SH Put Sole 120,000
NEMOURS & CO
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TOTAL $ 55,039
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Page 13 of 15 Pages
Column Column Column Column Column Column Column Column
1: 2: 3: 4: 5: 6: 7: 8:
Title Shares or Voting Authority(Shares)
of CUSIP Value Principal Investment Other -------------------------
Name of Issuer Class Number (x$1000) Amount SH/PRN Put/Call Discretion Managers Sole Shared None
E M C CORP MASS Common 268648952 3,660 200,000 SH Put Sole 200,000
GOLDCORP INC NEW Common 380956909 5,262 120,000 SH Call Sole 120,000
INTEL CORP Common 458140950 9,725 500,000 SH Put Sole 500,000
INTERNATIONAL Common 459200951 12,348 100,000 SH Put Sole 100,000
BUSINESS MACHS
ITT CORP Common 450911952 3,594 80,000 SH Put Sole 80,000
ITT EDUCATIONAL Common 45068B959 2,491 30,000 SH Put Sole 30,000
SERVICES INC
LOWES COS INC Common 548661957 1,634 80,000 SH Put Sole 80,000
MARTIN MARIETTA Common 573284956 6,785 80,000 SH Put Sole 80,000
MATERIALS
MCKESSON CORP Common 58155Q953 2,686 40,000 SH Put Sole 40,000
MICROSOFT CORP Common 594918904 2,301 100,000 SH Call Sole 100,000
MICROSOFT CORP Common 594918954 4,602 200,000 SH Put Sole 200,000
ORACLE CORP Common 68389X955 2,146 100,000 SH Put Sole 100,000
PENNEY J. C. CO INC Common 708160956 2,148 100,000 SH Put Sole 100,000
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TOTAL $ 59,382
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Page 14 of 15 Pages
Column Column Column Column Column Column Column Column
1: 2: 3: 4: 5: 6: 7: 8:
Title Shares or Voting Authority(Shares)
of CUSIP Value Principal Investment Other -------------------------
Name of Issuer Class Number (x$1000) Amount SH/PRN Put/Call Discretion Managers Sole Shared None
PPL CORP Common 69351T906 1,497 60,000 SH Call Sole 60,000
SEAGATE TECHNOLOGY Common G7945J904 913 70,000 SH Call Sole 70,000
TARGET CORP Common 87612E956 1,967 40,000 SH Put Sole 40,000
UNITED PARCEL SERVICE Common 911312956 4,551 80,000 SH Put Sole 80,000
INC
UNITED STATES STL Common 912909958 1,157 30,000 SH Put Sole 30,000
CORP NEW
VARIAN MED SYS INC Common 92220P955 2,091 40,000 SH Put Sole 40,000
VULCAN MATERIALS Common 929160959 3,506 80,000 SH Put Sole 80,000
ZOLTEK COMPANIES INC Common 98975W904 5,082 600,000 SH Call Sole 600,000
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TOTAL $ 20,764
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AGGREGATE TOTAL $ 14,069,122
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Page 15 of 15 Pages