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The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE
OMB APPROVAL
OMB Number: 3235-0006
Estimated average burden
hours per response: 23.8
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP FIGI (to the nearest dollar) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
ACUREN CORP COM 00510N102   76,950,767 6,920,033 SH   DFND 1 6,920,033 0 0
API GROUP CORP COM STK 00187Y100   145,537,514 4,069,841 SH   DFND 1 4,069,841 0 0
ARMSTRONG WORLD INDS INC NEW COM 04247X102   78,833,067 559,576 SH   DFND 1 559,576 0 0
ATKORE INC COM 047649108   195,871,009 3,265,061 SH   DFND 1 3,265,061 0 0
CARRIER GLOBAL CORPORATION COM 14448C104   186,253,730 2,937,756 SH   DFND 1 2,937,756 0 0
CHART INDS INC COM 16115Q308   112,115,173 776,636 SH   DFND 1 776,636 0 0
CONSENSUS CLOUD SOLUTIONS IN COM 20848V105   39,036,773 1,691,368 SH   DFND 1 1,691,368 0 0
CRH PLC ORD G25508105   150,020,959 1,705,365 SH   DFND 1 1,705,365 0 0
DARLING INGREDIENTS INC COM 237266101   247,282,094 7,915,560 SH   DFND 1 7,915,560 0 0
DAVITA INC COM 23918K108   110,475,699 722,205 SH   DFND 1 722,205 0 0
ELEMENT SOLUTIONS INC COM 28618M106   122,653,484 5,424,745 SH   DFND 1 5,424,745 0 0
ENTEGRIS INC COM 29362U104   44,602,028 509,854 SH   DFND 1 509,854 0 0
ENVISTA HOLDINGS CORPORATION COM 29415F104   89,126,239 5,163,745 SH   DFND 1 5,163,745 0 0
FORTIVE CORP COM 34959J108   187,740,290 2,565,459 SH   DFND 1 2,565,459 0 0
GAMING & LEISURE PPTYS INC COM 36467J108   106,789,320 2,098,022 SH   DFND 1 2,098,022 0 0
GARRETT MOTION INC COM 366505105   56,878,779 6,795,553 SH   DFND 1 6,795,553 0 0
LAMB WESTON HLDGS INC COM 513272104   107,460,369 2,016,142 SH   DFND 1 2,016,142 0 0
MASTERBRAND INC COMMON STOCK 57638P104   126,284,480 9,669,562 SH   DFND 1 9,669,562 0 0
MERCER INTL INC COM 588056101   14,085,763 2,290,368 SH   DFND 1 2,290,368 0 0
NEOGEN CORP COM 640491106   79,390,514 9,156,922 SH   DFND 1 9,156,922 0 0
OTIS WORLDWIDE CORP COM 68902V107   78,612,394 761,748 SH   DFND 1 761,748 0 0
PENTAIR PLC SHS G7S00T104   130,278,103 1,489,233 SH   DFND 1 1,489,233 0 0
RENTOKIL INITIAL PLC SPONSORED ADR 760125104   151,490,485 6,615,305 SH   DFND 1 6,615,305 0 0
S&P GLOBAL INC COM 78409V104   146,106,187 287,554 SH   DFND 1 287,554 0 0
SELECT SECTOR SPDR TR INDL 81369Y704   720,885,000 5,500,000 SH Call DFND 1 5,500,000 0 0
SELECT SECTOR SPDR TR SBI MATERIALS 81369Y100   150,465,000 1,750,000 SH Call DFND 1 1,750,000 0 0
SELECT SECTOR SPDR TR SBI MATERIALS 81369Y100   214,950,000 2,500,000 SH Put DFND 1 2,500,000 0 0
SELECT SECTOR SPDR TR INDL 81369Y704   786,420,000 6,000,000 SH Put DFND 1 6,000,000 0 0
TKO GROUP HOLDINGS INC CL A 87256C101   90,963,362 595,271 SH   DFND 1 595,271 0 0
VERALTO CORP COM SHS 92338C103   126,908,550 1,302,294 SH   DFND 1 1,302,294 0 0
VICI PPTYS INC COM 925652109   87,067,999 2,669,160 SH   DFND 1 2,669,160 0 0
WYNDHAM HOTELS & RESORTS INC COM 98311A105   57,046,462 630,278 SH   DFND 1 630,278 0 0
YETI HLDGS INC COM 98585X104   76,668,835 2,316,279 SH   DFND 1 2,316,279 0 0