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        <titleOfClass>COM</titleOfClass>
        <cusip>042735100</cusip>
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            <sshPrnamt>44000</sshPrnamt>
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        <investmentDiscretion>DFND</investmentDiscretion>
        <votingAuthority>
            <Sole>44000</Sole>
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            <None>0</None>
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        <nameOfIssuer>ASML HLDG NV N Y REGISTRY</nameOfIssuer>
        <titleOfClass>SHS</titleOfClass>
        <cusip>N07059210</cusip>
        <value>4466293</value>
        <shrsOrPrnAmt>
            <sshPrnamt>2245</sshPrnamt>
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        <investmentDiscretion>DFND</investmentDiscretion>
        <votingAuthority>
            <Sole>2245</Sole>
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            <None>0</None>
        </votingAuthority>
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        <titleOfClass>COM</titleOfClass>
        <cusip>04626A103</cusip>
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            <sshPrnamt>4200</sshPrnamt>
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        <votingAuthority>
            <Sole>4200</Sole>
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            <None>0</None>
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        <titleOfClass>COM</titleOfClass>
        <cusip>00206R102</cusip>
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            <sshPrnamt>1439533</sshPrnamt>
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            <Sole>1439533</Sole>
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            <None>0</None>
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        <titleOfClass>COM</titleOfClass>
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            <sshPrnamt>330300</sshPrnamt>
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        <investmentDiscretion>DFND</investmentDiscretion>
        <votingAuthority>
            <Sole>330300</Sole>
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            <None>0</None>
        </votingAuthority>
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        <titleOfClass>COM</titleOfClass>
        <cusip>052769106</cusip>
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            <sshPrnamt>62831</sshPrnamt>
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        <investmentDiscretion>DFND</investmentDiscretion>
        <votingAuthority>
            <Sole>62831</Sole>
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            <None>0</None>
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        <nameOfIssuer>AUTOMATIC DATA PROCESSING INC</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>053015103</cusip>
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            <sshPrnamt>19042</sshPrnamt>
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        <investmentDiscretion>DFND</investmentDiscretion>
        <votingAuthority>
            <Sole>19042</Sole>
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            <None>0</None>
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        <titleOfClass>COM</titleOfClass>
        <cusip>05329W102</cusip>
        <value>8348659</value>
        <shrsOrPrnAmt>
            <sshPrnamt>44936</sshPrnamt>
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        <investmentDiscretion>DFND</investmentDiscretion>
        <votingAuthority>
            <Sole>44936</Sole>
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            <None>0</None>
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        <titleOfClass>COM</titleOfClass>
        <cusip>053332102</cusip>
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            <sshPrnamt>4726</sshPrnamt>
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        <investmentDiscretion>DFND</investmentDiscretion>
        <votingAuthority>
            <Sole>4726</Sole>
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            <None>0</None>
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        <nameOfIssuer>AVERY DENNISON CORP</nameOfIssuer>
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        <cusip>053611109</cusip>
        <value>1526902</value>
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            <sshPrnamt>9405</sshPrnamt>
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        <investmentDiscretion>DFND</investmentDiscretion>
        <votingAuthority>
            <Sole>9405</Sole>
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            <None>0</None>
        </votingAuthority>
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        <nameOfIssuer>BAKER HUGHES COMPANY</nameOfIssuer>
        <titleOfClass>CL A</titleOfClass>
        <cusip>05722G100</cusip>
        <value>16832207</value>
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            <sshPrnamt>303283</sshPrnamt>
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        <investmentDiscretion>DFND</investmentDiscretion>
        <votingAuthority>
            <Sole>303283</Sole>
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            <None>0</None>
        </votingAuthority>
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        <nameOfIssuer>BANK OF AMER CORP</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>060505104</cusip>
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            <sshPrnamt>5173523</sshPrnamt>
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        <investmentDiscretion>DFND</investmentDiscretion>
        <votingAuthority>
            <Sole>5173523</Sole>
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            <None>0</None>
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        <nameOfIssuer>BARRICK MNG CORP</nameOfIssuer>
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        <cusip>06849F108</cusip>
        <value>8292716</value>
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            <sshPrnamt>225775</sshPrnamt>
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        <investmentDiscretion>DFND</investmentDiscretion>
        <votingAuthority>
            <Sole>225775</Sole>
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            <None>0</None>
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        <nameOfIssuer>BAUSCH HEALTH COS INC</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>071734107</cusip>
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            <sshPrnamt>5000000</sshPrnamt>
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        <investmentDiscretion>DFND</investmentDiscretion>
        <votingAuthority>
            <Sole>5000000</Sole>
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            <None>0</None>
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        <nameOfIssuer>BECTON DICKINSON &amp; CO</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>075887109</cusip>
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            <sshPrnamt>6578</sshPrnamt>
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        <investmentDiscretion>DFND</investmentDiscretion>
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            <Sole>6578</Sole>
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            <None>0</None>
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        <nameOfIssuer>BELLRING BRANDS INC</nameOfIssuer>
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        <cusip>07831C103</cusip>
        <value>3902743</value>
        <shrsOrPrnAmt>
            <sshPrnamt>301603</sshPrnamt>
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        <investmentDiscretion>DFND</investmentDiscretion>
        <votingAuthority>
            <Sole>301603</Sole>
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            <None>0</None>
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        <nameOfIssuer>BERKSHIRE HATHAWAY INC</nameOfIssuer>
        <titleOfClass>CL B NEW</titleOfClass>
        <cusip>084670702</cusip>
        <value>1363062</value>
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            <sshPrnamt>2724</sshPrnamt>
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        <investmentDiscretion>DFND</investmentDiscretion>
        <votingAuthority>
            <Sole>2724</Sole>
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            <None>0</None>
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    <infoTable>
        <nameOfIssuer>BEST BUY INC</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>086516101</cusip>
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        <shrsOrPrnAmt>
            <sshPrnamt>24179</sshPrnamt>
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        <investmentDiscretion>DFND</investmentDiscretion>
        <votingAuthority>
            <Sole>24179</Sole>
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            <None>0</None>
        </votingAuthority>
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        <nameOfIssuer>BIO RAD LABS INC</nameOfIssuer>
        <titleOfClass>CL A</titleOfClass>
        <cusip>090572207</cusip>
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            <sshPrnamt>112700</sshPrnamt>
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        <investmentDiscretion>DFND</investmentDiscretion>
        <votingAuthority>
            <Sole>112700</Sole>
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            <None>0</None>
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        <nameOfIssuer>BLACK STONE MINERALS L P</nameOfIssuer>
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            <sshPrnamt>728600</sshPrnamt>
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        <investmentDiscretion>DFND</investmentDiscretion>
        <votingAuthority>
            <Sole>728600</Sole>
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        <nameOfIssuer>BLACKSTONE INC</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
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            <sshPrnamt>2224</sshPrnamt>
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        <investmentDiscretion>DFND</investmentDiscretion>
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            <Sole>2224</Sole>
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        <nameOfIssuer>BOEING CO</nameOfIssuer>
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        <value>46867270</value>
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        <investmentDiscretion>DFND</investmentDiscretion>
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            <Sole>216507</Sole>
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        <nameOfIssuer>BOOKING HOLDINGS INC</nameOfIssuer>
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        <cusip>09857L108</cusip>
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        <investmentDiscretion>DFND</investmentDiscretion>
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            <None>0</None>
        </votingAuthority>
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        <nameOfIssuer>BOOZ ALLEN HAMILTON HLDG COR</nameOfIssuer>
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        <cusip>099502106</cusip>
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        <titleOfClass>COM</titleOfClass>
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            <Sole>94600</Sole>
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            <None>0</None>
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        <nameOfIssuer>BOSTON BEER INC</nameOfIssuer>
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        <cusip>100557107</cusip>
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        <investmentDiscretion>DFND</investmentDiscretion>
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            <Sole>29300</Sole>
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            <None>0</None>
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        <nameOfIssuer>BOSTON SCIENTIFIC CORP</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>101137107</cusip>
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        <votingAuthority>
            <Sole>364984</Sole>
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            <None>0</None>
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        <nameOfIssuer>BRISTOL-MYERS SQUIBB CO</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>110122108</cusip>
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        <investmentDiscretion>DFND</investmentDiscretion>
        <votingAuthority>
            <Sole>885384</Sole>
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            <None>0</None>
        </votingAuthority>
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        <nameOfIssuer>BROADCOM INC</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>11135F101</cusip>
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        <investmentDiscretion>DFND</investmentDiscretion>
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            <Sole>2003666</Sole>
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            <None>0</None>
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        <nameOfIssuer>BROADRIDGE FINL SOLUTIONS INC</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>11133T103</cusip>
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            <sshPrnamt>18920</sshPrnamt>
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            <Sole>18920</Sole>
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            <None>0</None>
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        <nameOfIssuer>BROWN FORMAN CORP</nameOfIssuer>
        <titleOfClass>CL B</titleOfClass>
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        <value>551628</value>
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            <sshPrnamt>20699</sshPrnamt>
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        <investmentDiscretion>DFND</investmentDiscretion>
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            <Sole>20699</Sole>
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            <None>0</None>
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        <nameOfIssuer>BUNGE GLOBAL SA</nameOfIssuer>
        <titleOfClass>COM SHS</titleOfClass>
        <cusip>H11356104</cusip>
        <value>5762886</value>
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            <sshPrnamt>53995</sshPrnamt>
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        <investmentDiscretion>DFND</investmentDiscretion>
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            <Sole>53995</Sole>
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            <None>0</None>
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        <nameOfIssuer>C H ROBINSON WORLDWIDE IN</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>12541W209</cusip>
        <value>1460012</value>
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            <sshPrnamt>7752</sshPrnamt>
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        <investmentDiscretion>DFND</investmentDiscretion>
        <votingAuthority>
            <Sole>7752</Sole>
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        </votingAuthority>
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        <nameOfIssuer>CADENCE DESIGN SYSTEM INC</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>127387108</cusip>
        <value>15564520</value>
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            <sshPrnamt>41470</sshPrnamt>
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        <investmentDiscretion>DFND</investmentDiscretion>
        <votingAuthority>
            <Sole>41470</Sole>
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            <None>0</None>
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        <nameOfIssuer>CAESARS ENTERTAINMENT INC</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>12769G100</cusip>
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            <sshPrnamt>1200000</sshPrnamt>
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        <investmentDiscretion>DFND</investmentDiscretion>
        <votingAuthority>
            <Sole>1200000</Sole>
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            <None>0</None>
        </votingAuthority>
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        <nameOfIssuer>CAMDEN PPTY TR</nameOfIssuer>
        <titleOfClass>SH BEN INT</titleOfClass>
        <cusip>133131102</cusip>
        <value>1414982</value>
        <shrsOrPrnAmt>
            <sshPrnamt>12359</sshPrnamt>
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        <investmentDiscretion>DFND</investmentDiscretion>
        <votingAuthority>
            <Sole>12359</Sole>
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            <None>0</None>
        </votingAuthority>
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        <nameOfIssuer>CAPITAL ONE FINL CORP</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>14040H105</cusip>
        <value>373755</value>
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            <sshPrnamt>1863</sshPrnamt>
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        <investmentDiscretion>DFND</investmentDiscretion>
        <votingAuthority>
            <Sole>1863</Sole>
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            <None>0</None>
        </votingAuthority>
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        <nameOfIssuer>CARDINAL HEALTH INC</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>14149Y108</cusip>
        <value>90805885</value>
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            <sshPrnamt>382244</sshPrnamt>
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        <investmentDiscretion>DFND</investmentDiscretion>
        <votingAuthority>
            <Sole>382244</Sole>
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            <None>0</None>
        </votingAuthority>
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        <nameOfIssuer>CARNIVAL CORP</nameOfIssuer>
        <titleOfClass>COMMON STOCK</titleOfClass>
        <cusip>143658300</cusip>
        <value>77190740</value>
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            <sshPrnamt>2701811</sshPrnamt>
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        <votingAuthority>
            <Sole>2701811</Sole>
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            <None>0</None>
        </votingAuthority>
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        <nameOfIssuer>DINE BRANDS GLOBAL INC</nameOfIssuer>
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        <nameOfIssuer>DIVERSIFIED HEALTHCARE TR</nameOfIssuer>
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        <nameOfIssuer>DORCHESTER MINERALS L P</nameOfIssuer>
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        <nameOfIssuer>EBAY INC.</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
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        <nameOfIssuer>ELASTIC N V</nameOfIssuer>
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        <nameOfIssuer>ENTERPRISE PRODS PARTNERS L</nameOfIssuer>
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        <nameOfIssuer>ENVIRI CORP</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>29390K102</cusip>
        <value>1463319</value>
        <shrsOrPrnAmt>
            <sshPrnamt>66666</sshPrnamt>
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        <investmentDiscretion>DFND</investmentDiscretion>
        <votingAuthority>
            <Sole>66666</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
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        <nameOfIssuer>EOG RES INC</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>26875P101</cusip>
        <value>25353912</value>
        <shrsOrPrnAmt>
            <sshPrnamt>195436</sshPrnamt>
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        <investmentDiscretion>DFND</investmentDiscretion>
        <votingAuthority>
            <Sole>195436</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
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        <nameOfIssuer>EQT CORP</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>26884L109</cusip>
        <value>9475054</value>
        <shrsOrPrnAmt>
            <sshPrnamt>178203</sshPrnamt>
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        <investmentDiscretion>DFND</investmentDiscretion>
        <votingAuthority>
            <Sole>178203</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
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        <nameOfIssuer>EQUIFAX INC</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>294429105</cusip>
        <value>2323661</value>
        <shrsOrPrnAmt>
            <sshPrnamt>14640</sshPrnamt>
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        <investmentDiscretion>DFND</investmentDiscretion>
        <votingAuthority>
            <Sole>14640</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
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    <infoTable>
        <nameOfIssuer>EQUITY RESIDENTIAL</nameOfIssuer>
        <titleOfClass>SH BEN INT</titleOfClass>
        <cusip>29476L107</cusip>
        <value>2847626</value>
        <shrsOrPrnAmt>
            <sshPrnamt>41920</sshPrnamt>
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        <investmentDiscretion>DFND</investmentDiscretion>
        <votingAuthority>
            <Sole>41920</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
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    <infoTable>
        <nameOfIssuer>ESSENTIAL UTILS INC</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>29670G102</cusip>
        <value>9883980</value>
        <shrsOrPrnAmt>
            <sshPrnamt>258000</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
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        <investmentDiscretion>DFND</investmentDiscretion>
        <votingAuthority>
            <Sole>258000</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
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    <infoTable>
        <nameOfIssuer>ESSEX PPTY TR INC</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>297178105</cusip>
        <value>991698</value>
        <shrsOrPrnAmt>
            <sshPrnamt>3401</sshPrnamt>
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        <investmentDiscretion>DFND</investmentDiscretion>
        <votingAuthority>
            <Sole>3401</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
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    <infoTable>
        <nameOfIssuer>ETSY INC</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>29786A106</cusip>
        <value>19873785</value>
        <shrsOrPrnAmt>
            <sshPrnamt>263858</sshPrnamt>
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        <investmentDiscretion>DFND</investmentDiscretion>
        <votingAuthority>
            <Sole>263858</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
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        <nameOfIssuer>EVERPURE INC</nameOfIssuer>
        <titleOfClass>CL A</titleOfClass>
        <cusip>74624M102</cusip>
        <value>1340297</value>
        <shrsOrPrnAmt>
            <sshPrnamt>17011</sshPrnamt>
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        <investmentDiscretion>DFND</investmentDiscretion>
        <votingAuthority>
            <Sole>17011</Sole>
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            <None>0</None>
        </votingAuthority>
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        <nameOfIssuer>EVERSOURCE ENERGY</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>30040W108</cusip>
        <value>11879164</value>
        <shrsOrPrnAmt>
            <sshPrnamt>164372</sshPrnamt>
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        <investmentDiscretion>DFND</investmentDiscretion>
        <votingAuthority>
            <Sole>164372</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
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        <nameOfIssuer>EXELIXIS INC</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>30161Q104</cusip>
        <value>16943274</value>
        <shrsOrPrnAmt>
            <sshPrnamt>311400</sshPrnamt>
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        <investmentDiscretion>DFND</investmentDiscretion>
        <votingAuthority>
            <Sole>311400</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
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    <infoTable>
        <nameOfIssuer>EXELON CORP</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>30161N101</cusip>
        <value>1319253</value>
        <shrsOrPrnAmt>
            <sshPrnamt>28298</sshPrnamt>
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        <investmentDiscretion>DFND</investmentDiscretion>
        <votingAuthority>
            <Sole>28298</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
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        <nameOfIssuer>EXLSERVICE HLDGS INC</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>302081104</cusip>
        <value>3524718</value>
        <shrsOrPrnAmt>
            <sshPrnamt>136300</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
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        <investmentDiscretion>DFND</investmentDiscretion>
        <votingAuthority>
            <Sole>136300</Sole>
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            <None>0</None>
        </votingAuthority>
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    <infoTable>
        <nameOfIssuer>EXPAND ENERGY CORPORATION</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>165167735</cusip>
        <value>9826270</value>
        <shrsOrPrnAmt>
            <sshPrnamt>107756</sshPrnamt>
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        <investmentDiscretion>DFND</investmentDiscretion>
        <votingAuthority>
            <Sole>107756</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
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    <infoTable>
        <nameOfIssuer>EXPEDIA GROUP INC</nameOfIssuer>
        <titleOfClass>COM NEW</titleOfClass>
        <cusip>30212P303</cusip>
        <value>22358283</value>
        <shrsOrPrnAmt>
            <sshPrnamt>87378</sshPrnamt>
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        <investmentDiscretion>DFND</investmentDiscretion>
        <votingAuthority>
            <Sole>87378</Sole>
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            <None>0</None>
        </votingAuthority>
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    <infoTable>
        <nameOfIssuer>EXPEDITORS INTL WASH INC</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>302130109</cusip>
        <value>2620479</value>
        <shrsOrPrnAmt>
            <sshPrnamt>16081</sshPrnamt>
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        <investmentDiscretion>DFND</investmentDiscretion>
        <votingAuthority>
            <Sole>16081</Sole>
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            <None>0</None>
        </votingAuthority>
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    <infoTable>
        <nameOfIssuer>EXTRA SPACE STORAGE INC</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>30225T102</cusip>
        <value>2902368</value>
        <shrsOrPrnAmt>
            <sshPrnamt>19975</sshPrnamt>
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        <investmentDiscretion>DFND</investmentDiscretion>
        <votingAuthority>
            <Sole>19975</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
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    <infoTable>
        <nameOfIssuer>EXXON MOBIL CORP</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>30231G102</cusip>
        <value>43763662</value>
        <shrsOrPrnAmt>
            <sshPrnamt>320097</sshPrnamt>
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        <investmentDiscretion>DFND</investmentDiscretion>
        <votingAuthority>
            <Sole>320097</Sole>
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            <None>0</None>
        </votingAuthority>
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    <infoTable>
        <nameOfIssuer>F5 INC</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>315616102</cusip>
        <value>2885515</value>
        <shrsOrPrnAmt>
            <sshPrnamt>6937</sshPrnamt>
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        <investmentDiscretion>DFND</investmentDiscretion>
        <votingAuthority>
            <Sole>6937</Sole>
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            <None>0</None>
        </votingAuthority>
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    <infoTable>
        <nameOfIssuer>FASTENAL CO</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>311900104</cusip>
        <value>6675257</value>
        <shrsOrPrnAmt>
            <sshPrnamt>138981</sshPrnamt>
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        <investmentDiscretion>DFND</investmentDiscretion>
        <votingAuthority>
            <Sole>138981</Sole>
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            <None>0</None>
        </votingAuthority>
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        <nameOfIssuer>FEDERAL RLTY INVT TR NEW</nameOfIssuer>
        <titleOfClass>SH BEN INT NEW</titleOfClass>
        <cusip>313745101</cusip>
        <value>1193171</value>
        <shrsOrPrnAmt>
            <sshPrnamt>9666</sshPrnamt>
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        <investmentDiscretion>DFND</investmentDiscretion>
        <votingAuthority>
            <Sole>9666</Sole>
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            <None>0</None>
        </votingAuthority>
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    <infoTable>
        <nameOfIssuer>FEDEX CORP</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>31428X106</cusip>
        <value>41486594</value>
        <shrsOrPrnAmt>
            <sshPrnamt>132490</sshPrnamt>
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        <investmentDiscretion>DFND</investmentDiscretion>
        <votingAuthority>
            <Sole>132490</Sole>
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            <None>0</None>
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        <nameOfIssuer>FEDEX FGHT HLDG CO INC</nameOfIssuer>
        <titleOfClass>COMMON STOCK ADDED</titleOfClass>
        <cusip>314352105</cusip>
        <value>9983365</value>
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            <sshPrnamt>66115</sshPrnamt>
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        <investmentDiscretion>DFND</investmentDiscretion>
        <votingAuthority>
            <Sole>66115</Sole>
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            <None>0</None>
        </votingAuthority>
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    <infoTable>
        <nameOfIssuer>FERROVIAL NV</nameOfIssuer>
        <titleOfClass>ORD SHS</titleOfClass>
        <cusip>N3168P101</cusip>
        <value>79590169</value>
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            <sshPrnamt>1162749</sshPrnamt>
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        <votingAuthority>
            <Sole>1162749</Sole>
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            <None>0</None>
        </votingAuthority>
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    <infoTable>
        <nameOfIssuer>FIRST SOLAR INC</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>336433107</cusip>
        <value>597451</value>
        <shrsOrPrnAmt>
            <sshPrnamt>2532</sshPrnamt>
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        <investmentDiscretion>DFND</investmentDiscretion>
        <votingAuthority>
            <Sole>2532</Sole>
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            <None>0</None>
        </votingAuthority>
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    <infoTable>
        <nameOfIssuer>FIVE BELOW INC</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>33829M101</cusip>
        <value>22905246</value>
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            <sshPrnamt>127400</sshPrnamt>
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        <investmentDiscretion>DFND</investmentDiscretion>
        <votingAuthority>
            <Sole>127400</Sole>
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            <None>0</None>
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        <nameOfIssuer>FLEX LTD</nameOfIssuer>
        <titleOfClass>ORD</titleOfClass>
        <cusip>Y2573F102</cusip>
        <value>16742803</value>
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            <sshPrnamt>103306</sshPrnamt>
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        <investmentDiscretion>DFND</investmentDiscretion>
        <votingAuthority>
            <Sole>103306</Sole>
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            <None>0</None>
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    <infoTable>
        <nameOfIssuer>FORD MTR CO</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>345370860</cusip>
        <value>20610628</value>
        <shrsOrPrnAmt>
            <sshPrnamt>1482779</sshPrnamt>
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        <investmentDiscretion>DFND</investmentDiscretion>
        <votingAuthority>
            <Sole>1482779</Sole>
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            <None>0</None>
        </votingAuthority>
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        <nameOfIssuer>FORTINET INC</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>34959E109</cusip>
        <value>21551043</value>
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            <sshPrnamt>140288</sshPrnamt>
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        <investmentDiscretion>DFND</investmentDiscretion>
        <votingAuthority>
            <Sole>140288</Sole>
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            <None>0</None>
        </votingAuthority>
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    <infoTable>
        <nameOfIssuer>FORTIVE CORP</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>34959J108</cusip>
        <value>2289836</value>
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            <sshPrnamt>37483</sshPrnamt>
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        <investmentDiscretion>DFND</investmentDiscretion>
        <votingAuthority>
            <Sole>37483</Sole>
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            <None>0</None>
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    <infoTable>
        <nameOfIssuer>FORTREA HLDGS INC</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>34965K107</cusip>
        <value>2124540</value>
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            <sshPrnamt>122100</sshPrnamt>
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        <investmentDiscretion>DFND</investmentDiscretion>
        <votingAuthority>
            <Sole>122100</Sole>
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            <None>0</None>
        </votingAuthority>
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    <infoTable>
        <nameOfIssuer>FOX CORP</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>35137L204</cusip>
        <value>4463665</value>
        <shrsOrPrnAmt>
            <sshPrnamt>95296</sshPrnamt>
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        <investmentDiscretion>DFND</investmentDiscretion>
        <votingAuthority>
            <Sole>95296</Sole>
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            <None>0</None>
        </votingAuthority>
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    <infoTable>
        <nameOfIssuer>FREEPORT MCMORAN INC</nameOfIssuer>
        <titleOfClass>CL B</titleOfClass>
        <cusip>35671D857</cusip>
        <value>14314896</value>
        <shrsOrPrnAmt>
            <sshPrnamt>227618</sshPrnamt>
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        <investmentDiscretion>DFND</investmentDiscretion>
        <votingAuthority>
            <Sole>227618</Sole>
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            <None>0</None>
        </votingAuthority>
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        <nameOfIssuer>FUNKO INC</nameOfIssuer>
        <titleOfClass>CL A</titleOfClass>
        <cusip>361008105</cusip>
        <value>3528000</value>
        <shrsOrPrnAmt>
            <sshPrnamt>600000</sshPrnamt>
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        <investmentDiscretion>DFND</investmentDiscretion>
        <votingAuthority>
            <Sole>600000</Sole>
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            <None>0</None>
        </votingAuthority>
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    <infoTable>
        <nameOfIssuer>GAMESTOP CORP</nameOfIssuer>
        <titleOfClass>CL A</titleOfClass>
        <cusip>36467W109</cusip>
        <value>4675330</value>
        <shrsOrPrnAmt>
            <sshPrnamt>211745</sshPrnamt>
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        <investmentDiscretion>DFND</investmentDiscretion>
        <votingAuthority>
            <Sole>211745</Sole>
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            <None>0</None>
        </votingAuthority>
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        <nameOfIssuer>GAP INC</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>364760108</cusip>
        <value>4924048</value>
        <shrsOrPrnAmt>
            <sshPrnamt>263600</sshPrnamt>
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        <investmentDiscretion>DFND</investmentDiscretion>
        <votingAuthority>
            <Sole>263600</Sole>
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            <None>0</None>
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        <nameOfIssuer>GARMIN LTD</nameOfIssuer>
        <titleOfClass>SHS</titleOfClass>
        <cusip>H2906T109</cusip>
        <value>4787619</value>
        <shrsOrPrnAmt>
            <sshPrnamt>20155</sshPrnamt>
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        <investmentDiscretion>DFND</investmentDiscretion>
        <votingAuthority>
            <Sole>20155</Sole>
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            <None>0</None>
        </votingAuthority>
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    <infoTable>
        <nameOfIssuer>GARRETT MOTION INC</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>366505105</cusip>
        <value>1170229</value>
        <shrsOrPrnAmt>
            <sshPrnamt>32300</sshPrnamt>
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        <investmentDiscretion>DFND</investmentDiscretion>
        <votingAuthority>
            <Sole>32300</Sole>
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            <None>0</None>
        </votingAuthority>
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    <infoTable>
        <nameOfIssuer>GARTNER INC</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>366651107</cusip>
        <value>5422264</value>
        <shrsOrPrnAmt>
            <sshPrnamt>41832</sshPrnamt>
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        <investmentDiscretion>DFND</investmentDiscretion>
        <votingAuthority>
            <Sole>41832</Sole>
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            <None>0</None>
        </votingAuthority>
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    <infoTable>
        <nameOfIssuer>GE AEROSPACE</nameOfIssuer>
        <titleOfClass>COM NEW</titleOfClass>
        <cusip>369604301</cusip>
        <value>292818576</value>
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            <sshPrnamt>783503</sshPrnamt>
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        <investmentDiscretion>DFND</investmentDiscretion>
        <votingAuthority>
            <Sole>783503</Sole>
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            <None>0</None>
        </votingAuthority>
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        <cusip>63900P608</cusip>
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        <nameOfIssuer>NEKTAR THERAPEUTICS</nameOfIssuer>
        <titleOfClass>COM NEW</titleOfClass>
        <cusip>640268306</cusip>
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        <nameOfIssuer>NEOGEN CORP</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
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            <sshPrnamt>9102300</sshPrnamt>
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            <Sole>9102300</Sole>
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            <sshPrnamt>218433</sshPrnamt>
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            <Sole>218433</Sole>
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        <nameOfIssuer>NETFLIX INC.</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>64110L106</cusip>
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        <nameOfIssuer>NEUROCRINE BIOSCIENCES INC C</nameOfIssuer>
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        <cusip>64125C109</cusip>
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            <sshPrnamt>102200</sshPrnamt>
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        <titleOfClass>COM</titleOfClass>
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            <sshPrnamt>3434</sshPrnamt>
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            <Sole>3434</Sole>
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            <sshPrnamt>214104</sshPrnamt>
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            <Sole>214104</Sole>
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        <nameOfIssuer>NEWS CORP NEW</nameOfIssuer>
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        <cusip>65249B109</cusip>
        <value>1113973</value>
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            <sshPrnamt>44864</sshPrnamt>
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        <investmentDiscretion>DFND</investmentDiscretion>
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            <Sole>44864</Sole>
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        <nameOfIssuer>NEWS CORP NEW</nameOfIssuer>
        <titleOfClass>CL B</titleOfClass>
        <cusip>65249B208</cusip>
        <value>415681</value>
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            <sshPrnamt>14814</sshPrnamt>
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        <investmentDiscretion>DFND</investmentDiscretion>
        <votingAuthority>
            <Sole>14814</Sole>
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        <nameOfIssuer>NEXTERA ENERGY INC</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>65339F101</cusip>
        <value>43070845</value>
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            <sshPrnamt>490724</sshPrnamt>
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            <Sole>490724</Sole>
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        <nameOfIssuer>NGL ENERGY PARTNERS LP U</nameOfIssuer>
        <titleOfClass>NIT REPST</titleOfClass>
        <cusip>62913M107</cusip>
        <value>86369322</value>
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            <sshPrnamt>5421803</sshPrnamt>
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            <Sole>5421803</Sole>
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        <nameOfIssuer>NIKE INC</nameOfIssuer>
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        <cusip>654106103</cusip>
        <value>15919272</value>
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            <sshPrnamt>387802</sshPrnamt>
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        <votingAuthority>
            <Sole>387802</Sole>
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        <nameOfIssuer>NORDSON CORP</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>655663102</cusip>
        <value>1965812</value>
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            <sshPrnamt>6516</sshPrnamt>
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            <Sole>6516</Sole>
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        <nameOfIssuer>NORFOLK SOUTHN CORP</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>655844108</cusip>
        <value>87103050</value>
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            <sshPrnamt>276878</sshPrnamt>
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            <Sole>276878</Sole>
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        <nameOfIssuer>NORTHROP GRUMMAN CORP</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>666807102</cusip>
        <value>27714104</value>
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            <sshPrnamt>54415</sshPrnamt>
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        <investmentDiscretion>DFND</investmentDiscretion>
        <votingAuthority>
            <Sole>54415</Sole>
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        <nameOfIssuer>NORWEGIAN CRUISE LINE HLDGS</nameOfIssuer>
        <titleOfClass>SHS</titleOfClass>
        <cusip>G66721104</cusip>
        <value>90964003</value>
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            <sshPrnamt>4309048</sshPrnamt>
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        <investmentDiscretion>DFND</investmentDiscretion>
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            <Sole>4309048</Sole>
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        <nameOfIssuer>NRG ENERGY INC</nameOfIssuer>
        <titleOfClass>COM NEW</titleOfClass>
        <cusip>629377508</cusip>
        <value>7557290</value>
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            <sshPrnamt>51741</sshPrnamt>
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            <Sole>51741</Sole>
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        <nameOfIssuer>NUCOR CORP</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>670346105</cusip>
        <value>17749166</value>
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            <sshPrnamt>79682</sshPrnamt>
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        <investmentDiscretion>DFND</investmentDiscretion>
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        <cusip>67059N108</cusip>
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            <sshPrnamt>368900</sshPrnamt>
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        <cusip>G6700G107</cusip>
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        <nameOfIssuer>NVIDIA CORPORATION</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>67066G104</cusip>
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            <sshPrnamt>8124577</sshPrnamt>
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        <titleOfClass>COM</titleOfClass>
        <cusip>62944T105</cusip>
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        <nameOfIssuer>NXP SEMICONDUCTORS N V</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>N6596X109</cusip>
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            <sshPrnamt>182317</sshPrnamt>
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            <Sole>182317</Sole>
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        <nameOfIssuer>OCCIDENTAL PETE CORP</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>674599105</cusip>
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            <Sole>89324</Sole>
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        <nameOfIssuer>OLD DOMINION FREIGHT LINE IN</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>679580100</cusip>
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            <sshPrnamt>27597</sshPrnamt>
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        <investmentDiscretion>DFND</investmentDiscretion>
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            <Sole>27597</Sole>
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        <titleOfClass>PAR $1</titleOfClass>
        <cusip>680665205</cusip>
        <value>2271967</value>
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            <sshPrnamt>114630</sshPrnamt>
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        <titleOfClass>COM</titleOfClass>
        <cusip>682189105</cusip>
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        <titleOfClass>COM</titleOfClass>
        <cusip>68389X105</cusip>
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        <titleOfClass>COM</titleOfClass>
        <cusip>67103H107</cusip>
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        <nameOfIssuer>OTIS WORLDWIDE CORP</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>68902V107</cusip>
        <value>29316119</value>
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        <titleOfClass>COM</titleOfClass>
        <cusip>693718108</cusip>
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        <titleOfClass>COM</titleOfClass>
        <cusip>695156109</cusip>
        <value>713887</value>
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            <sshPrnamt>2996</sshPrnamt>
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        <nameOfIssuer>PALANTIR TECHNOLOGIES INC CL</nameOfIssuer>
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        <cusip>69608A108</cusip>
        <value>88561864</value>
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        <titleOfClass>COM</titleOfClass>
        <cusip>697435105</cusip>
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        <titleOfClass>CL B</titleOfClass>
        <cusip>69932A204</cusip>
        <value>382391</value>
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            <sshPrnamt>38782</sshPrnamt>
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            <Sole>38782</Sole>
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        <titleOfClass>COM</titleOfClass>
        <cusip>701094104</cusip>
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            <Sole>71822</Sole>
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        <nameOfIssuer>PDD HOLDINGS INC SPONSORED A</nameOfIssuer>
        <titleOfClass>SPONSORED ADDED</titleOfClass>
        <cusip>722304102</cusip>
        <value>332962</value>
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            <Sole>4365</Sole>
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        <nameOfIssuer>PENUMBRA INC</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
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        <nameOfIssuer>QNITY ELECTRONICS INC MON</nameOfIssuer>
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        <nameOfIssuer>QUANEX BLDG PRODS CORP</nameOfIssuer>
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        <nameOfIssuer>QUEST DIAGNOSTICS INC</nameOfIssuer>
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        <nameOfIssuer>RALLIANT CORP</nameOfIssuer>
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        <nameOfIssuer>RALPH LAUREN CORP</nameOfIssuer>
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        <nameOfIssuer>ROBINHOOD MKTS INC</nameOfIssuer>
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        <nameOfIssuer>ROSS STORES INC</nameOfIssuer>
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        <nameOfIssuer>ROYAL GOLD INC</nameOfIssuer>
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        <nameOfIssuer>RTX CORPORATION</nameOfIssuer>
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        <titleOfClass>CL A</titleOfClass>
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        <nameOfIssuer>RYDER SYS INC</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
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        <nameOfIssuer>S&amp;P GLOBAL INC</nameOfIssuer>
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        <cusip>78409V104</cusip>
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            <Sole>908</Sole>
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        <nameOfIssuer>SAIA INC</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>78709Y105</cusip>
        <value>8423200</value>
        <shrsOrPrnAmt>
            <sshPrnamt>20000</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
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        <investmentDiscretion>DFND</investmentDiscretion>
        <votingAuthority>
            <Sole>20000</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
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        <nameOfIssuer>SALESFORCE INC</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>79466L302</cusip>
        <value>70696898</value>
        <shrsOrPrnAmt>
            <sshPrnamt>451276</sshPrnamt>
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        <investmentDiscretion>DFND</investmentDiscretion>
        <votingAuthority>
            <Sole>451276</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
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        <nameOfIssuer>SANDISK CORP</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>80004C200</cusip>
        <value>118340825</value>
        <shrsOrPrnAmt>
            <sshPrnamt>52047</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
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        <investmentDiscretion>DFND</investmentDiscretion>
        <votingAuthority>
            <Sole>52047</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
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    <infoTable>
        <nameOfIssuer>SBA COMMUNICATIONS CORP</nameOfIssuer>
        <titleOfClass>CL A</titleOfClass>
        <cusip>78410G104</cusip>
        <value>2301215</value>
        <shrsOrPrnAmt>
            <sshPrnamt>13041</sshPrnamt>
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        <investmentDiscretion>DFND</investmentDiscretion>
        <votingAuthority>
            <Sole>13041</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
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    <infoTable>
        <nameOfIssuer>SCHWAB CHARLES CORP</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>808513105</cusip>
        <value>448709</value>
        <shrsOrPrnAmt>
            <sshPrnamt>4863</sshPrnamt>
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        <investmentDiscretion>DFND</investmentDiscretion>
        <votingAuthority>
            <Sole>4863</Sole>
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            <None>0</None>
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        <nameOfIssuer>SEADRILL LTD</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>G7997W102</cusip>
        <value>16433282</value>
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            <sshPrnamt>434513</sshPrnamt>
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        <investmentDiscretion>DFND</investmentDiscretion>
        <votingAuthority>
            <Sole>434513</Sole>
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            <None>0</None>
        </votingAuthority>
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        <nameOfIssuer>SEAGATE TECHNOLOGY HLDNGS PL</nameOfIssuer>
        <titleOfClass>ORD SHS</titleOfClass>
        <cusip>G7997R103</cusip>
        <value>184775305</value>
        <shrsOrPrnAmt>
            <sshPrnamt>191477</sshPrnamt>
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        <investmentDiscretion>DFND</investmentDiscretion>
        <votingAuthority>
            <Sole>191477</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
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    <infoTable>
        <nameOfIssuer>SELECT SECTOR SPDR TR ST STR</nameOfIssuer>
        <titleOfClass>MATER ETF</titleOfClass>
        <cusip>81369Y100</cusip>
        <value>103391321</value>
        <shrsOrPrnAmt>
            <sshPrnamt>2034061</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
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        <investmentDiscretion>DFND</investmentDiscretion>
        <votingAuthority>
            <Sole>2034061</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
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    <infoTable>
        <nameOfIssuer>SELECT SECTOR SPDR TR ST STR</nameOfIssuer>
        <titleOfClass>INDL ETF</titleOfClass>
        <cusip>81369Y704</cusip>
        <value>262948062</value>
        <shrsOrPrnAmt>
            <sshPrnamt>1419576</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
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        <investmentDiscretion>DFND</investmentDiscretion>
        <votingAuthority>
            <Sole>1419576</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
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    <infoTable>
        <nameOfIssuer>SEMTECH CORP</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>816850101</cusip>
        <value>26122590</value>
        <shrsOrPrnAmt>
            <sshPrnamt>161400</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
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        <investmentDiscretion>DFND</investmentDiscretion>
        <votingAuthority>
            <Sole>161400</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>SENTINELONE INC</nameOfIssuer>
        <titleOfClass>CL A</titleOfClass>
        <cusip>81730H109</cusip>
        <value>353214</value>
        <shrsOrPrnAmt>
            <sshPrnamt>20814</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
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        <investmentDiscretion>DFND</investmentDiscretion>
        <votingAuthority>
            <Sole>20814</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
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    <infoTable>
        <nameOfIssuer>SERVICENOW INC</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>81762P102</cusip>
        <value>17185467</value>
        <shrsOrPrnAmt>
            <sshPrnamt>173101</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
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        <investmentDiscretion>DFND</investmentDiscretion>
        <votingAuthority>
            <Sole>173101</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>SHERWIN WILLIAMS CO</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>824348106</cusip>
        <value>3803703</value>
        <shrsOrPrnAmt>
            <sshPrnamt>11047</sshPrnamt>
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        <investmentDiscretion>DFND</investmentDiscretion>
        <votingAuthority>
            <Sole>11047</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
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        <nameOfIssuer>SHOPIFY INC</nameOfIssuer>
        <titleOfClass>VTG SHS</titleOfClass>
        <cusip>82509L107</cusip>
        <value>3251961</value>
        <shrsOrPrnAmt>
            <sshPrnamt>28481</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
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        <investmentDiscretion>DFND</investmentDiscretion>
        <votingAuthority>
            <Sole>28481</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>SIX FLAGS ENTERTAINMENT CORP</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>83001C108</cusip>
        <value>22279800</value>
        <shrsOrPrnAmt>
            <sshPrnamt>1046000</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
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        <investmentDiscretion>DFND</investmentDiscretion>
        <votingAuthority>
            <Sole>1046000</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>SLB LIMITED</nameOfIssuer>
        <titleOfClass>STK</titleOfClass>
        <cusip>806857108</cusip>
        <value>4959042</value>
        <shrsOrPrnAmt>
            <sshPrnamt>106669</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
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        <investmentDiscretion>DFND</investmentDiscretion>
        <votingAuthority>
            <Sole>106669</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>SMITH A O CORP</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>831865209</cusip>
        <value>863404</value>
        <shrsOrPrnAmt>
            <sshPrnamt>13766</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
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        <investmentDiscretion>DFND</investmentDiscretion>
        <votingAuthority>
            <Sole>13766</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>SMITHFIELD FOODS INC</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>832248207</cusip>
        <value>11329420</value>
        <shrsOrPrnAmt>
            <sshPrnamt>467000</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
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        <investmentDiscretion>DFND</investmentDiscretion>
        <votingAuthority>
            <Sole>467000</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>SMUCKER J M CO</nameOfIssuer>
        <titleOfClass>COM NEW</titleOfClass>
        <cusip>832696405</cusip>
        <value>3638250</value>
        <shrsOrPrnAmt>
            <sshPrnamt>32340</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
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        <investmentDiscretion>DFND</investmentDiscretion>
        <votingAuthority>
            <Sole>32340</Sole>
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            <None>0</None>
        </votingAuthority>
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    <infoTable>
        <nameOfIssuer>SNAP ON INC</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>833034101</cusip>
        <value>6696338</value>
        <shrsOrPrnAmt>
            <sshPrnamt>16641</sshPrnamt>
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        <investmentDiscretion>DFND</investmentDiscretion>
        <votingAuthority>
            <Sole>16641</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
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    <infoTable>
        <nameOfIssuer>SOLAREDGE TECHNOLOGIES INC</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>83417M104</cusip>
        <value>6499346</value>
        <shrsOrPrnAmt>
            <sshPrnamt>111214</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
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        <investmentDiscretion>DFND</investmentDiscretion>
        <votingAuthority>
            <Sole>111214</Sole>
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            <None>0</None>
        </votingAuthority>
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    <infoTable>
        <nameOfIssuer>SOLARIS ENERGY INFRAS INC</nameOfIssuer>
        <titleOfClass>COMCL A</titleOfClass>
        <cusip>83418M103</cusip>
        <value>10644858</value>
        <shrsOrPrnAmt>
            <sshPrnamt>132300</sshPrnamt>
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        <votingAuthority>
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            <None>0</None>
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    <infoTable>
        <nameOfIssuer>SOLSTICE ADVANCED MATLS INC</nameOfIssuer>
        <titleOfClass>COM SHS</titleOfClass>
        <cusip>83443Q103</cusip>
        <value>23558740</value>
        <shrsOrPrnAmt>
            <sshPrnamt>265900</sshPrnamt>
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        <investmentDiscretion>DFND</investmentDiscretion>
        <votingAuthority>
            <Sole>265900</Sole>
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            <None>0</None>
        </votingAuthority>
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    <infoTable>
        <nameOfIssuer>STEEL DYNAMICS INC</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>858119100</cusip>
        <value>3824410</value>
        <shrsOrPrnAmt>
            <sshPrnamt>16667</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
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        <investmentDiscretion>DFND</investmentDiscretion>
        <votingAuthority>
            <Sole>16667</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
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    <infoTable>
        <nameOfIssuer>STERIS PLC</nameOfIssuer>
        <titleOfClass>SHS USD</titleOfClass>
        <cusip>G8473T100</cusip>
        <value>4876380</value>
        <shrsOrPrnAmt>
            <sshPrnamt>23158</sshPrnamt>
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        <investmentDiscretion>DFND</investmentDiscretion>
        <votingAuthority>
            <Sole>23158</Sole>
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            <None>0</None>
        </votingAuthority>
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    <infoTable>
        <nameOfIssuer>STRYKER CORPORATION</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>863667101</cusip>
        <value>28342212</value>
        <shrsOrPrnAmt>
            <sshPrnamt>90021</sshPrnamt>
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        <investmentDiscretion>DFND</investmentDiscretion>
        <votingAuthority>
            <Sole>90021</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
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    <infoTable>
        <nameOfIssuer>SUBURBAN PROPANE PARTNERS L</nameOfIssuer>
        <titleOfClass>UNIT LTD PARTN</titleOfClass>
        <cusip>864482104</cusip>
        <value>882360</value>
        <shrsOrPrnAmt>
            <sshPrnamt>51600</sshPrnamt>
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        <investmentDiscretion>DFND</investmentDiscretion>
        <votingAuthority>
            <Sole>51600</Sole>
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            <None>0</None>
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        <nameOfIssuer>SUNOCO LP/SUNOCO FIN CORP CO</nameOfIssuer>
        <titleOfClass>M UT REP LP</titleOfClass>
        <cusip>86765K109</cusip>
        <value>18022500</value>
        <shrsOrPrnAmt>
            <sshPrnamt>267000</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
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        <investmentDiscretion>DFND</investmentDiscretion>
        <votingAuthority>
            <Sole>267000</Sole>
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            <None>0</None>
        </votingAuthority>
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    <infoTable>
        <nameOfIssuer>SUPER MICRO PUTER INC</nameOfIssuer>
        <titleOfClass>NEW</titleOfClass>
        <cusip>86800U302</cusip>
        <value>2026556</value>
        <shrsOrPrnAmt>
            <sshPrnamt>69095</sshPrnamt>
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        <investmentDiscretion>DFND</investmentDiscretion>
        <votingAuthority>
            <Sole>69095</Sole>
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            <None>0</None>
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    <infoTable>
        <nameOfIssuer>SYLVAMO CORP</nameOfIssuer>
        <titleOfClass>STOCK</titleOfClass>
        <cusip>871332102</cusip>
        <value>4067318</value>
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        <investmentDiscretion>DFND</investmentDiscretion>
        <votingAuthority>
            <Sole>107601</Sole>
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            <None>0</None>
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    <infoTable>
        <nameOfIssuer>SYNOPSYS INC</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>871607107</cusip>
        <value>34902301</value>
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            <sshPrnamt>78244</sshPrnamt>
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        <investmentDiscretion>DFND</investmentDiscretion>
        <votingAuthority>
            <Sole>78244</Sole>
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            <None>0</None>
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    <infoTable>
        <nameOfIssuer>SYSCO CORP</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>871829107</cusip>
        <value>29987919</value>
        <shrsOrPrnAmt>
            <sshPrnamt>358793</sshPrnamt>
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        <investmentDiscretion>DFND</investmentDiscretion>
        <votingAuthority>
            <Sole>358793</Sole>
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            <None>0</None>
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    <infoTable>
        <nameOfIssuer>TAIWAN SEMICONDUCTOR MANUFAC</nameOfIssuer>
        <titleOfClass>SPONSORED ADS</titleOfClass>
        <cusip>874039100</cusip>
        <value>9768694</value>
        <shrsOrPrnAmt>
            <sshPrnamt>20455</sshPrnamt>
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        <investmentDiscretion>DFND</investmentDiscretion>
        <votingAuthority>
            <Sole>20455</Sole>
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            <None>0</None>
        </votingAuthority>
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    <infoTable>
        <nameOfIssuer>TAKE-TWO INTERACTIVE SOFTWAR</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>874054109</cusip>
        <value>6486981</value>
        <shrsOrPrnAmt>
            <sshPrnamt>25950</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
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        <investmentDiscretion>DFND</investmentDiscretion>
        <votingAuthority>
            <Sole>25950</Sole>
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            <None>0</None>
        </votingAuthority>
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    <infoTable>
        <nameOfIssuer>TALEN ENERGY CORP</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>87422Q109</cusip>
        <value>25399586</value>
        <shrsOrPrnAmt>
            <sshPrnamt>66100</sshPrnamt>
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        <investmentDiscretion>DFND</investmentDiscretion>
        <votingAuthority>
            <Sole>66100</Sole>
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            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>TAPESTRY INC</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>876030107</cusip>
        <value>3689362</value>
        <shrsOrPrnAmt>
            <sshPrnamt>25204</sshPrnamt>
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        <investmentDiscretion>DFND</investmentDiscretion>
        <votingAuthority>
            <Sole>25204</Sole>
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            <None>0</None>
        </votingAuthority>
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    <infoTable>
        <nameOfIssuer>TARGA RES CORP</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>87612G101</cusip>
        <value>7451879</value>
        <shrsOrPrnAmt>
            <sshPrnamt>27791</sshPrnamt>
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        <investmentDiscretion>DFND</investmentDiscretion>
        <votingAuthority>
            <Sole>27791</Sole>
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            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>TARGET CORP</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>87612E106</cusip>
        <value>296223</value>
        <shrsOrPrnAmt>
            <sshPrnamt>2268</sshPrnamt>
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        <investmentDiscretion>DFND</investmentDiscretion>
        <votingAuthority>
            <Sole>2268</Sole>
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            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>TD SYNNEX CORPORATION</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>87162W100</cusip>
        <value>4705184</value>
        <shrsOrPrnAmt>
            <sshPrnamt>17600</sshPrnamt>
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        <investmentDiscretion>DFND</investmentDiscretion>
        <votingAuthority>
            <Sole>17600</Sole>
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            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>TE CONNECTIVITY PLC</nameOfIssuer>
        <titleOfClass>ORD SHS</titleOfClass>
        <cusip>G87052109</cusip>
        <value>7557147</value>
        <shrsOrPrnAmt>
            <sshPrnamt>35889</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
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        <nameOfIssuer>TJX COS INC NEW</nameOfIssuer>
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        <nameOfIssuer>TRULIEVE CANNABIS CORP SUB</nameOfIssuer>
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        <nameOfIssuer>VALMONT INDS INC</nameOfIssuer>
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