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  <proxyTable>
    <issuerName>ALGONQUIN POWER &amp; UTILITIES CORP.</issuerName>
    <cusip>015857105</cusip>
    <isin>CA0158571053</isin>
    <meetingDate>06/03/2025</meetingDate>
    <voteDescription>The advisory resolution set out on page 18 of the Circular approving the Corporation's approach to executive compensation as disclosed in the Circular.</voteDescription>
    <voteCategories>
      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
      </voteCategory>
    </voteCategories>
    <sharesVoted>2100000</sharesVoted>
    <sharesOnLoan>0</sharesOnLoan>
    <vote>
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        <howVoted>FOR</howVoted>
        <sharesVoted>2100000</sharesVoted>
        <managementRecommendation>FOR</managementRecommendation>
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  <proxyTable>
    <issuerName>ARRAY TECHNOLOGIES, INC.</issuerName>
    <cusip>04271T100</cusip>
    <isin>US04271T1007</isin>
    <meetingDate>05/20/2025</meetingDate>
    <voteDescription>Advisory vote to approve named executive officer compensation.</voteDescription>
    <voteCategories>
      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
      </voteCategory>
    </voteCategories>
    <sharesVoted>712676</sharesVoted>
    <sharesOnLoan>0</sharesOnLoan>
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        <howVoted>FOR</howVoted>
        <sharesVoted>712676</sharesVoted>
        <managementRecommendation>FOR</managementRecommendation>
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  <proxyTable>
    <issuerName>BAXTER INTERNATIONAL INC.</issuerName>
    <cusip>071813109</cusip>
    <isin>US0718131099</isin>
    <meetingDate>05/06/2025</meetingDate>
    <voteDescription>Advisory Vote to Approve Named Executive Officer Compensation for 2024</voteDescription>
    <voteCategories>
      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
      </voteCategory>
    </voteCategories>
    <sharesVoted>510178</sharesVoted>
    <sharesOnLoan>0</sharesOnLoan>
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        <howVoted>FOR</howVoted>
        <sharesVoted>510178</sharesVoted>
        <managementRecommendation>FOR</managementRecommendation>
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  <proxyTable>
    <issuerName>BLUE OWL CAPITAL INC.</issuerName>
    <cusip>09581B103</cusip>
    <isin>US09581B1035</isin>
    <meetingDate>06/09/2025</meetingDate>
    <voteDescription>Approval, by non-binding advisory basis, the compensation paid to our named executive officers for the 2024 fiscal year.</voteDescription>
    <voteCategories>
      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
      </voteCategory>
    </voteCategories>
    <sharesVoted>1250053</sharesVoted>
    <sharesOnLoan>0</sharesOnLoan>
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        <howVoted>FOR</howVoted>
        <sharesVoted>1250053</sharesVoted>
        <managementRecommendation>FOR</managementRecommendation>
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  <proxyTable>
    <issuerName>BLUE OWL CAPITAL INC.</issuerName>
    <cusip>09581B103</cusip>
    <isin>US09581B1035</isin>
    <meetingDate>06/09/2025</meetingDate>
    <voteDescription>To recommend, on a non-binding advisory basis, the frequency of future advisory votes to approve, on a non-binding advisory basis, the compensation paid to our named executive officers.</voteDescription>
    <voteCategories>
      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
      </voteCategory>
    </voteCategories>
    <sharesVoted>1250053</sharesVoted>
    <sharesOnLoan>0</sharesOnLoan>
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      <voteRecord>
        <howVoted>3 YEARS</howVoted>
        <sharesVoted>1250053</sharesVoted>
        <managementRecommendation>FOR</managementRecommendation>
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  <proxyTable>
    <issuerName>CAPITAL ONE FINANCIAL CORPORATION</issuerName>
    <cusip>14040H105</cusip>
    <isin>US14040H1059</isin>
    <meetingDate>05/08/2025</meetingDate>
    <voteDescription>Advisory vote on our Named Executive Officer compensation (&quot;Say on Pay&quot;).</voteDescription>
    <voteCategories>
      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
      </voteCategory>
    </voteCategories>
    <sharesVoted>125000</sharesVoted>
    <sharesOnLoan>0</sharesOnLoan>
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      <voteRecord>
        <howVoted>FOR</howVoted>
        <sharesVoted>125000</sharesVoted>
        <managementRecommendation>FOR</managementRecommendation>
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  <proxyTable>
    <issuerName>CHIMERA INVESTMENT CORPORATION</issuerName>
    <cusip>16934Q802</cusip>
    <isin>US16934Q8024</isin>
    <meetingDate>06/10/2025</meetingDate>
    <voteDescription>The proposal to approve a non-binding advisory resolution on executive compensation.</voteDescription>
    <voteCategories>
      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
      </voteCategory>
    </voteCategories>
    <sharesVoted>250000</sharesVoted>
    <sharesOnLoan>0</sharesOnLoan>
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        <howVoted>FOR</howVoted>
        <sharesVoted>250000</sharesVoted>
        <managementRecommendation>FOR</managementRecommendation>
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  <proxyTable>
    <issuerName>CITIGROUP INC.</issuerName>
    <cusip>172967424</cusip>
    <isin>US1729674242</isin>
    <meetingDate>04/29/2025</meetingDate>
    <voteDescription>Advisory vote to approve our 2024 Executive Compensation.</voteDescription>
    <voteCategories>
      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
      </voteCategory>
    </voteCategories>
    <sharesVoted>75000</sharesVoted>
    <sharesOnLoan>0</sharesOnLoan>
    <vote>
      <voteRecord>
        <howVoted>FOR</howVoted>
        <sharesVoted>75000</sharesVoted>
        <managementRecommendation>FOR</managementRecommendation>
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  <proxyTable>
    <issuerName>CVS HEALTH CORPORATION</issuerName>
    <cusip>126650100</cusip>
    <isin>US1266501006</isin>
    <meetingDate>05/15/2025</meetingDate>
    <voteDescription>Say on Pay, a Proposal to Approve, on an Advisory Basis, the Company's Executive Compensation.</voteDescription>
    <voteCategories>
      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
      </voteCategory>
    </voteCategories>
    <sharesVoted>200000</sharesVoted>
    <sharesOnLoan>0</sharesOnLoan>
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        <howVoted>FOR</howVoted>
        <sharesVoted>200000</sharesVoted>
        <managementRecommendation>FOR</managementRecommendation>
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  <proxyTable>
    <issuerName>DELEK US HOLDINGS, INC.</issuerName>
    <cusip>24665A103</cusip>
    <isin>US24665A1034</isin>
    <meetingDate>04/29/2025</meetingDate>
    <voteDescription>To adopt the advisory resolution approving the executive compensation program for our named executive officers as described in the Proxy Statement.</voteDescription>
    <voteCategories>
      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
      </voteCategory>
    </voteCategories>
    <sharesVoted>399661</sharesVoted>
    <sharesOnLoan>0</sharesOnLoan>
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        <howVoted>FOR</howVoted>
        <sharesVoted>399661</sharesVoted>
        <managementRecommendation>FOR</managementRecommendation>
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  <proxyTable>
    <issuerName>EQUITABLE HOLDINGS, INC.</issuerName>
    <cusip>29452E101</cusip>
    <isin>US29452E1010</isin>
    <meetingDate>05/21/2025</meetingDate>
    <voteDescription>Advisory vote to approve the compensation paid to our named executive officers.</voteDescription>
    <voteCategories>
      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
      </voteCategory>
    </voteCategories>
    <sharesVoted>280000</sharesVoted>
    <sharesOnLoan>0</sharesOnLoan>
    <vote>
      <voteRecord>
        <howVoted>FOR</howVoted>
        <sharesVoted>280000</sharesVoted>
        <managementRecommendation>FOR</managementRecommendation>
      </voteRecord>
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  </proxyTable>
  <proxyTable>
    <issuerName>EQUITABLE HOLDINGS, INC.</issuerName>
    <cusip>29452E101</cusip>
    <isin>US29452E1010</isin>
    <meetingDate>05/21/2025</meetingDate>
    <voteDescription>Advisory vote on the frequency of future advisory votes on executive compensation.</voteDescription>
    <voteCategories>
      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
      </voteCategory>
    </voteCategories>
    <sharesVoted>280000</sharesVoted>
    <sharesOnLoan>0</sharesOnLoan>
    <vote>
      <voteRecord>
        <howVoted>1 YEAR</howVoted>
        <sharesVoted>280000</sharesVoted>
        <managementRecommendation>FOR</managementRecommendation>
      </voteRecord>
    </vote>
  </proxyTable>
  <proxyTable>
    <issuerName>GLOBAL PAYMENTS INC.</issuerName>
    <cusip>37940X102</cusip>
    <isin>US37940X1028</isin>
    <meetingDate>04/24/2025</meetingDate>
    <voteDescription>Approval, on an advisory basis, of the compensation of the company's named executive officers for 2024.</voteDescription>
    <voteCategories>
      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
      </voteCategory>
    </voteCategories>
    <sharesVoted>147500</sharesVoted>
    <sharesOnLoan>0</sharesOnLoan>
    <vote>
      <voteRecord>
        <howVoted>FOR</howVoted>
        <sharesVoted>147500</sharesVoted>
        <managementRecommendation>FOR</managementRecommendation>
      </voteRecord>
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  </proxyTable>
  <proxyTable>
    <issuerName>GSK PLC</issuerName>
    <cusip>37733W204</cusip>
    <isin>US37733W2044</isin>
    <meetingDate>05/07/2025</meetingDate>
    <voteDescription>To approve the Annual report on remuneration</voteDescription>
    <voteCategories>
      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
      </voteCategory>
    </voteCategories>
    <sharesVoted>300046</sharesVoted>
    <sharesOnLoan>0</sharesOnLoan>
    <vote>
      <voteRecord>
        <howVoted>FOR</howVoted>
        <sharesVoted>300046</sharesVoted>
        <managementRecommendation>FOR</managementRecommendation>
      </voteRecord>
    </vote>
  </proxyTable>
  <proxyTable>
    <issuerName>JACK IN THE BOX INC.</issuerName>
    <cusip>466367109</cusip>
    <isin>US4663671091</isin>
    <meetingDate>02/28/2025</meetingDate>
    <voteDescription>Advisory Vote to Approve Executive Compensation.</voteDescription>
    <voteCategories>
      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
      </voteCategory>
    </voteCategories>
    <sharesVoted>200995</sharesVoted>
    <sharesOnLoan>0</sharesOnLoan>
    <vote>
      <voteRecord>
        <howVoted>AGAINST</howVoted>
        <sharesVoted>200995</sharesVoted>
        <managementRecommendation>FOR</managementRecommendation>
      </voteRecord>
    </vote>
  </proxyTable>
  <proxyTable>
    <issuerName>LIBERTY ENERGY INC.</issuerName>
    <cusip>53115L104</cusip>
    <isin>US53115L1044</isin>
    <meetingDate>04/15/2025</meetingDate>
    <voteDescription>Advisory vote to approve the compensation of the Company's named executive officers.</voteDescription>
    <voteCategories>
      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
      </voteCategory>
    </voteCategories>
    <sharesVoted>25000</sharesVoted>
    <sharesOnLoan>0</sharesOnLoan>
    <vote>
      <voteRecord>
        <howVoted>FOR</howVoted>
        <sharesVoted>25000</sharesVoted>
        <managementRecommendation>FOR</managementRecommendation>
      </voteRecord>
    </vote>
  </proxyTable>
  <proxyTable>
    <issuerName>LIBERTY ENERGY INC.</issuerName>
    <cusip>53115L104</cusip>
    <isin>US53115L1044</isin>
    <meetingDate>04/15/2025</meetingDate>
    <voteDescription>Advisory vote to determine the frequency of future advisory votes to approve the compensation of the Company's named executive officers.</voteDescription>
    <voteCategories>
      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
      </voteCategory>
    </voteCategories>
    <sharesVoted>25000</sharesVoted>
    <sharesOnLoan>0</sharesOnLoan>
    <vote>
      <voteRecord>
        <howVoted>1 YEAR</howVoted>
        <sharesVoted>25000</sharesVoted>
        <managementRecommendation>FOR</managementRecommendation>
      </voteRecord>
    </vote>
  </proxyTable>
  <proxyTable>
    <issuerName>M&amp;T BANK CORPORATION</issuerName>
    <cusip>55261F104</cusip>
    <isin>US55261F1049</isin>
    <meetingDate>04/15/2025</meetingDate>
    <voteDescription>TO APPROVE THE 2024 COMPENSATION OF M&amp;T BANK CORPORATION'S NAMED EXECUTIVE OFFICERS.</voteDescription>
    <voteCategories>
      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
      </voteCategory>
    </voteCategories>
    <sharesVoted>22500</sharesVoted>
    <sharesOnLoan>0</sharesOnLoan>
    <vote>
      <voteRecord>
        <howVoted>FOR</howVoted>
        <sharesVoted>22500</sharesVoted>
        <managementRecommendation>FOR</managementRecommendation>
      </voteRecord>
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  <proxyTable>
    <issuerName>MATCH GROUP, INC.</issuerName>
    <cusip>57667L107</cusip>
    <isin>US57667L1070</isin>
    <meetingDate>06/18/2025</meetingDate>
    <voteDescription>To approve a non-binding advisory resolution on executive compensation.</voteDescription>
    <voteCategories>
      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
      </voteCategory>
    </voteCategories>
    <sharesVoted>635000</sharesVoted>
    <sharesOnLoan>0</sharesOnLoan>
    <vote>
      <voteRecord>
        <howVoted>FOR</howVoted>
        <sharesVoted>635000</sharesVoted>
        <managementRecommendation>FOR</managementRecommendation>
      </voteRecord>
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  </proxyTable>
  <proxyTable>
    <issuerName>OCI N.V.</issuerName>
    <cusip>N6667A111</cusip>
    <isin>NL0010558797</isin>
    <meetingDate>05/21/2025</meetingDate>
    <voteDescription>PROPOSAL TO ADVISE ON THE REMUNERATION REPORT FOR THE FINANCIAL YEAR 2024</voteDescription>
    <voteCategories>
      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
      </voteCategory>
    </voteCategories>
    <sharesVoted>525000</sharesVoted>
    <sharesOnLoan>0</sharesOnLoan>
    <vote>
      <voteRecord>
        <howVoted>FOR</howVoted>
        <sharesVoted>525000</sharesVoted>
        <managementRecommendation>FOR</managementRecommendation>
      </voteRecord>
    </vote>
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  <proxyTable>
    <issuerName>PERDOCEO EDUCATION CORPORATION</issuerName>
    <cusip>71363P106</cusip>
    <isin>US71363P1066</isin>
    <meetingDate>05/22/2025</meetingDate>
    <voteDescription>Advisory Vote to approve executive compensation paid by the Company to its Named Executive Officers.</voteDescription>
    <voteCategories>
      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
      </voteCategory>
    </voteCategories>
    <sharesVoted>285509</sharesVoted>
    <sharesOnLoan>0</sharesOnLoan>
    <vote>
      <voteRecord>
        <howVoted>FOR</howVoted>
        <sharesVoted>285509</sharesVoted>
        <managementRecommendation>FOR</managementRecommendation>
      </voteRecord>
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  <proxyTable>
    <issuerName>PERDOCEO EDUCATION CORPORATION</issuerName>
    <cusip>71363P106</cusip>
    <isin>US71363P1066</isin>
    <meetingDate>05/22/2025</meetingDate>
    <voteDescription>ADVISORY VOTE TO APPROVE EXECUTIVE COMPENSATION PAID BY THE COMPANY TO ITS NAMED EXECUTIVE OFFICERS</voteDescription>
    <voteCategories>
      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
      </voteCategory>
    </voteCategories>
    <sharesVoted>18448</sharesVoted>
    <sharesOnLoan>0</sharesOnLoan>
    <vote>
      <voteRecord>
        <howVoted>FOR</howVoted>
        <sharesVoted>18448</sharesVoted>
        <managementRecommendation>FOR</managementRecommendation>
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  <proxyTable>
    <issuerName>RAYMOND JAMES FINANCIAL, INC.</issuerName>
    <cusip>754730109</cusip>
    <isin>US7547301090</isin>
    <meetingDate>02/20/2025</meetingDate>
    <voteDescription>Advisory vote to approve executive compensation.</voteDescription>
    <voteCategories>
      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
      </voteCategory>
    </voteCategories>
    <sharesVoted>25000</sharesVoted>
    <sharesOnLoan>0</sharesOnLoan>
    <vote>
      <voteRecord>
        <howVoted>FOR</howVoted>
        <sharesVoted>25000</sharesVoted>
        <managementRecommendation>FOR</managementRecommendation>
      </voteRecord>
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  <proxyTable>
    <issuerName>REALTY INCOME CORPORATION</issuerName>
    <cusip>756109104</cusip>
    <isin>US7561091049</isin>
    <meetingDate>05/13/2025</meetingDate>
    <voteDescription>A non-binding advisory proposal to approve the compensation of our named executive officers as described in the Proxy Statement.</voteDescription>
    <voteCategories>
      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
      </voteCategory>
    </voteCategories>
    <sharesVoted>175000</sharesVoted>
    <sharesOnLoan>0</sharesOnLoan>
    <vote>
      <voteRecord>
        <howVoted>FOR</howVoted>
        <sharesVoted>175000</sharesVoted>
        <managementRecommendation>FOR</managementRecommendation>
      </voteRecord>
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  <proxyTable>
    <issuerName>SANOFI</issuerName>
    <cusip>80105N105</cusip>
    <isin>US80105N1054</isin>
    <meetingDate>04/30/2025</meetingDate>
    <voteDescription>Approval of the components of the compensation paid or awarded in respect of the year ended December 31, 2024 to Frdric Ouda, Chairman of the Board</voteDescription>
    <voteCategories>
      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
      </voteCategory>
    </voteCategories>
    <sharesVoted>278431</sharesVoted>
    <sharesOnLoan>0</sharesOnLoan>
    <vote>
      <voteRecord>
        <howVoted>FOR</howVoted>
        <sharesVoted>278431</sharesVoted>
        <managementRecommendation>FOR</managementRecommendation>
      </voteRecord>
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  </proxyTable>
  <proxyTable>
    <issuerName>SANOFI</issuerName>
    <cusip>80105N105</cusip>
    <isin>US80105N1054</isin>
    <meetingDate>04/30/2025</meetingDate>
    <voteDescription>Approval of the components of the compensation paid or awarded in respect of the year ended December 31, 2024 to Paul Hudson, Chief Executive Officer</voteDescription>
    <voteCategories>
      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
      </voteCategory>
    </voteCategories>
    <sharesVoted>278431</sharesVoted>
    <sharesOnLoan>0</sharesOnLoan>
    <vote>
      <voteRecord>
        <howVoted>FOR</howVoted>
        <sharesVoted>278431</sharesVoted>
        <managementRecommendation>FOR</managementRecommendation>
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  <proxyTable>
    <issuerName>SHUTTERSTOCK, INC.</issuerName>
    <cusip>825690100</cusip>
    <isin>US8256901005</isin>
    <meetingDate>06/10/2025</meetingDate>
    <voteDescription>To approve, on an advisory (non-binding) basis, the compensation that may be paid or become payable to Shutterstock's named executive officers that is based on or otherwise related to the merger.</voteDescription>
    <voteCategories>
      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
      </voteCategory>
    </voteCategories>
    <sharesVoted>250000</sharesVoted>
    <sharesOnLoan>0</sharesOnLoan>
    <vote>
      <voteRecord>
        <howVoted>FOR</howVoted>
        <sharesVoted>250000</sharesVoted>
        <managementRecommendation>FOR</managementRecommendation>
      </voteRecord>
    </vote>
  </proxyTable>
  <proxyTable>
    <issuerName>SPECTRUM BRANDS HOLDINGS, INC.</issuerName>
    <cusip>84790A105</cusip>
    <isin>US84790A1051</isin>
    <meetingDate>08/06/2024</meetingDate>
    <voteDescription>To approve, on an advisory basis, the compensation of the Company's executive officers.</voteDescription>
    <voteCategories>
      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
      </voteCategory>
    </voteCategories>
    <sharesVoted>201631</sharesVoted>
    <sharesOnLoan>0</sharesOnLoan>
    <vote>
      <voteRecord>
        <howVoted>FOR</howVoted>
        <sharesVoted>201631</sharesVoted>
        <managementRecommendation>FOR</managementRecommendation>
      </voteRecord>
    </vote>
  </proxyTable>
  <proxyTable>
    <issuerName>SS&amp;C TECHNOLOGIES HOLDINGS, INC.</issuerName>
    <cusip>78467J100</cusip>
    <isin>US78467J1007</isin>
    <meetingDate>05/21/2025</meetingDate>
    <voteDescription>To approve, on an advisory basis, the compensation of SS&amp;C's named executive officers.</voteDescription>
    <voteCategories>
      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
      </voteCategory>
    </voteCategories>
    <sharesVoted>102508</sharesVoted>
    <sharesOnLoan>0</sharesOnLoan>
    <vote>
      <voteRecord>
        <howVoted>FOR</howVoted>
        <sharesVoted>102508</sharesVoted>
        <managementRecommendation>FOR</managementRecommendation>
      </voteRecord>
    </vote>
  </proxyTable>
  <proxyTable>
    <issuerName>UGI CORPORATION</issuerName>
    <cusip>902681105</cusip>
    <isin>US9026811052</isin>
    <meetingDate>01/31/2025</meetingDate>
    <voteDescription>An advisory vote to approve the Fiscal 2024 compensation of the Company's named executive officers (&quot;say-on-pay vote&quot;).</voteDescription>
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    <voteDescription>Advisory resolution to approve executive compensation.</voteDescription>
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