The Securities and Exchange Commission has not necessarily
reviewed the information in this filing and has not determined
if it is accurate and complete.
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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 |
| ATS CORP | COM | 00217Y104 | 68,282,019 | 2,486,400 | SH | DFND | 01,02 | 2,486,400 | 0 | 0 | |
| BANK OF NOVA SCOTIA | COM | 064149107 | 26,488,048 | 359,100 | SH | DFND | 01,02 | 359,100 | 0 | 0 | |
| BERKSHIRE HATHAWAY INC | CL A | 084670108 | 753,250 | 1 | SH | DFND | 01,02 | 1 | 0 | 0 | |
| BLACKBERRY LTD | COM | 09228F103 | 132,225,232 | 34,980,220 | SH | DFND | 01,02 | 34,980,220 | 0 | 0 | |
| BRIGHTSTAR LOTTERY PLC | SHS USD | G4863A108 | 566,713 | 36,633 | SH | DFND | 01,02 | 36,633 | 0 | 0 | |
| CANADIAN NATIONAL RAILWAY CO | COM | 136375102 | 1,960,139 | 19,800 | SH | DFND | 01,02 | 19,800 | 0 | 0 | |
| CAPRI HOLDINGS LTD | SHS | G1890L107 | 1,905,640 | 78,100 | SH | DFND | 01,02 | 78,100 | 0 | 0 | |
| CLEVELAND-CLIFFS INC | COM | 185899101 | 197,713,353 | 14,899,273 | SH | DFND | 01,02 | 14,899,273 | 0 | 0 | |
| COLLIERS INTL GROUP INC | SUB VTG SHS | 194693107 | 3,191,465 | 22,000 | SH | DFND | 01,02 | 22,000 | 0 | 0 | |
| CVS HEALTH CORP | COM | 126650100 | 215,197,200 | 2,712,000 | SH | DFND | 01,02 | 2,712,000 | 0 | 0 | |
| GARRETT MOTION INC | COM | 366505105 | 4,539,818 | 260,460 | SH | DFND | 01,02 | 260,460 | 0 | 0 | |
| GENERAL MOTORS CO | COM | 37045V100 | 30,577,233 | 375,965 | SH | DFND | 01,02 | 375,965 | 0 | 0 | |
| HELMERICH & PAYNE INC | COM | 423452101 | 33,661,590 | 1,174,105 | SH | DFND | 01,02 | 1,174,105 | 0 | 0 | |
| JOHNSON & JOHNSON | COM | 478160104 | 15,190,130 | 73,400 | SH | DFND | 01,02 | 73,400 | 0 | 0 | |
| KENNEDY-WILSON HOLDINGS INC | COM | 489398107 | 128,823,827 | 13,322,009 | SH | DFND | 01,02 | 13,322,009 | 0 | 0 | |
| KRAFT HEINZ CO | COM | 500754106 | 124,084,560 | 5,119,000 | SH | DFND | 01,02 | 5,119,000 | 0 | 0 | |
| LULULEMON ATHLETICA INC | COM | 550021109 | 2,596,625 | 12,500 | SH | DFND | 01,02 | 12,500 | 0 | 0 | |
| MAGNACHIP SEMICONDUCTOR CORP | COM | 55933J203 | 316,250 | 125,000 | SH | DFND | 01,02 | 125,000 | 0 | 0 | |
| MERCK & CO INC | COM | 58933Y105 | 18,201,183 | 172,900 | SH | DFND | 01,02 | 172,900 | 0 | 0 | |
| MOLSON COORS BEVERAGE CO | CL B | 60871R209 | 62,494,565 | 1,338,500 | SH | DFND | 01,02 | 1,338,500 | 0 | 0 | |
| OCCIDENTAL PETROLEUM CORP | COM | 674599105 | 248,732,684 | 6,050,418 | SH | DFND | 01,02 | 6,050,418 | 0 | 0 | |
| ORLA MINING LTD | COM | 68634K106 | 423,610,745 | 31,817,229 | SH | DFND | 01,02 | 31,817,229 | 0 | 0 | |
| PENN ENTERTAINMENT INC | COM | 707569109 | 809,226 | 54,900 | SH | DFND | 01,02 | 54,900 | 0 | 0 | |
| PFIZER INC | COM | 717081103 | 22,183,410 | 890,900 | SH | DFND | 01,02 | 890,900 | 0 | 0 | |
| PRIORITY TECH HOLDINGS INC | COM | 74275G107 | 383,520 | 70,500 | SH | DFND | 01,02 | 70,500 | 0 | 0 | |
| TAIWAN SEMICONDUCTOR MFG LTD | SPONSORED ADS | 874039100 | 28,465,123 | 93,700 | SH | DFND | 01,02 | 93,700 | 0 | 0 | |
| UNDER ARMOUR INC | CL A | 904311107 | 208,535,847 | 41,958,923 | SH | DFND | 01,02 | 41,958,923 | 0 | 0 | |
| UNDER ARMOUR INC | CL C | 904311206 | 45,395,304 | 9,457,355 | SH | DFND | 01,02 | 9,457,355 | 0 | 0 | |
| VANGUARD INDEX FUNDS | S&P 500 ETF SHS | 922908363 | 36,524,408 | 58,248 | SH | DFND | 01,02 | 58,248 | 0 | 0 | |