The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
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

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COLUMN 1COLUMN 2COLUMN 3COLUMN 4COLUMN 5COLUMN 6COLUMN 7COLUMN 8
VALUESHRS ORSH/PUT/INVESTMENTOTHERVOTING AUTHORITY
NAME OF ISSUERTITLE OF CLASSCUSIP(x$1000)PRN AMTPRNCALLDISCRETIONMANAGERSOLESHAREDNONE
APOLLO GLOBAL MGMT LLCCL A SHS03761230663,7181,355,414SH DFND101,355,4140
BANK AMER CORPCOM06050510451,0931,320,578SH DFND101,320,5780
FREEPORT-MCMORAN INCCL B35671D85781,1312,463,736SH DFND102,463,7360
HOWARD HUGHES CORPCOM44267D10754,294570,735SH DFND10570,7350
JPMORGAN CHASE & COCOM46625H10040,303264,748SH DFND10264,7480
MELCO RESORT ENTERTAINMENT LADR5854641002,514126,274SH DFND10126,2740
NEWMONT CORPCOM6516391068,844146,745SH DFND10146,7450
NUTRIEN LIMITEDCOM67077M10818,573344,644SH DFND10344,6440
ORACLE CORPCOM68389X10534,563492,555SH DFND10492,5550
TECK RESOURCES CLASS BCOM87874220451,5172,685,966SH DFND102,685,9660
TRUIST FINANCIAL CORPCOM89832Q10920,066344,066SH DFND10344,0660
TURQUOISE HILL RES LTDCOM9004351083,035188,633SH DFND10188,6330
VISA INCCOM CL A92826C83921,683102,410SH DFND10102,4100
WELLS FARGO & CO NEWCOM94974610148,1471,232,336SH DFND101,232,3360
WYNN RESORTS LTDCOM98313410747,962382,566SH DFND10382,5660