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 | 69,352,987 | 2,486,400 | SH | DFND | 01,02 | 2,486,400 | 0 | 0 | |
| BANK NOVA SCOTIA | COM | 064149107 | 24,822,057 | 359,100 | SH | DFND | 01,02 | 359,100 | 0 | 0 | |
| BERKSHIRE HATHAWAY INC | CL A | 084670108 | 718,176 | 1 | SH | DFND | 01,02 | 1 | 0 | 0 | |
| BLACKBERRY LTD | COM | 09228F103 | 113,335,913 | 34,980,220 | SH | DFND | 01,02 | 34,980,220 | 0 | 0 | |
| BRIGHTSTAR LOTTERY PLC | SHS USD | G4863A108 | 874,971 | 68,733 | SH | DFND | 01,02 | 68,733 | 0 | 0 | |
| CANADIAN NATIONAL RAILWAY CO | COM | 136375102 | 2,532,690 | 24,800 | SH | DFND | 01,02 | 24,800 | 0 | 0 | |
| CAPRI HOLDINGS LTD | SHS | G1890L107 | 1,377,684 | 78,100 | SH | DFND | 01,02 | 78,100 | 0 | 0 | |
| CLEVELAND-CLIFFS INC | COM | 185899101 | 125,749,864 | 14,899,273 | SH | DFND | 01,02 | 14,899,273 | 0 | 0 | |
| COLLIERS INTL GROUP INC | SUB VTG SHS | 194693107 | 2,606,499 | 25,000 | SH | DFND | 01,02 | 25,000 | 0 | 0 | |
| CVS HEALTH CORP | COM | 126650100 | 194,775,840 | 2,712,000 | SH | DFND | 01,02 | 2,712,000 | 0 | 0 | |
| GARRETT MOTION INC | COM | 366505105 | 3,351,638 | 184,460 | SH | DFND | 01,02 | 184,460 | 0 | 0 | |
| GENERAL MOTORS CO | COM | 37045V100 | 28,009,392 | 375,965 | SH | DFND | 01,02 | 375,965 | 0 | 0 | |
| HELMERICH & PAYNE INC | COM | 423452101 | 42,303,003 | 1,174,105 | SH | DFND | 01,02 | 1,174,105 | 0 | 0 | |
| JOHNSON & JOHNSON | COM | 478160104 | 17,937,492 | 73,400 | SH | DFND | 01,02 | 73,400 | 0 | 0 | |
| KENNEDY-WILSON HOLDINGS INC | COM | 489398107 | 144,277,357 | 13,322,009 | SH | DFND | 01,02 | 13,322,009 | 0 | 0 | |
| KRAFT HEINZ CO | COM | 500754106 | 118,429,136 | 5,268,200 | SH | DFND | 01,02 | 5,268,200 | 0 | 0 | |
| LULULEMON ATHLETICA INC | COM | 550021109 | 1,912,125 | 12,500 | SH | DFND | 01,02 | 12,500 | 0 | 0 | |
| MAGNACHIP SEMICONDUCTOR CORP | COM | 55933J203 | 348,750 | 125,000 | SH | DFND | 01,02 | 125,000 | 0 | 0 | |
| MERCK & CO INC | COM | 58933Y105 | 20,799,870 | 172,900 | SH | DFND | 01,02 | 172,900 | 0 | 0 | |
| MOLSON COORS BEVERAGE CO | CL B | 60871R209 | 61,941,810 | 1,438,500 | SH | DFND | 01,02 | 1,438,500 | 0 | 0 | |
| ORLA MINING LTD | COM | 68634K106 | 501,579,333 | 31,817,229 | SH | DFND | 01,02 | 31,817,229 | 0 | 0 | |
| PENN ENTERTAINMENT INC | COM | 707569109 | 825,147 | 54,900 | SH | DFND | 01,02 | 54,900 | 0 | 0 | |
| PFIZER INC | COM | 717081103 | 27,814,563 | 990,900 | SH | DFND | 01,02 | 990,900 | 0 | 0 | |
| PRIORITY TECH HOLDINGS INC | COM | 74275G107 | 332,760 | 70,500 | SH | DFND | 01,02 | 70,500 | 0 | 0 | |
| TAIWAN SEMICONDUCTOR MFG LTD | SPONSORED ADS | 874039100 | 31,679,970 | 93,700 | SH | DFND | 01,02 | 93,700 | 0 | 0 | |
| WENDYS CO | COM | 95058W100 | 22,751,558 | 3,268,902 | SH | DFND | 01,02 | 3,268,902 | 0 | 0 | |
| UNDER ARMOUR INC | CL A | 904311107 | 253,705,145 | 43,000,872 | SH | DFND | 01,02 | 43,000,872 | 0 | 0 | |
| UNDER ARMOUR INC | CL C | 904311206 | 126,934,969 | 21,999,128 | SH | DFND | 01,02 | 21,999,128 | 0 | 0 | |
| WARNER BROS DISCOVERY INC | COM SER A | 934423104 | 1,588,776 | 57,900 | SH | DFND | 01,02 | 57,900 | 0 | 0 | |