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
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
ABBVIE INC COM 00287Y109 BBG0025Y4RZ3 1,856,200 10,000 SH   DFND 1 0 10,000 0
ALPHABET INC CAP STK CL C 02079K107 BBG009S3NB21 496,692 2,800 SH   DFND 1 0 2,800 0
ALTRIA GROUP INC COM 02209S103 BBG001S5T8T5 2,453,021 41,839 SH   DFND 1 0 41,839 0
AMAZON COM INC COM 023135106 BBG001S5PQL7 789,804 3,600 SH   DFND 1 0 3,600 0
AMERICAN ELEC PWR CO INC COM 025537101 BBG001S5NFD2 1,556,400 15,000 SH   DFND 1 0 15,000 0
APPLE INC COM 037833100 BBG001S5N8V8 11,058,663 53,900 SH   DFND 1 0 53,900 0
ARCELORMITTAL SA LUXEMBOURG NY REGISTRY SH 03938L203 BBG001S8JFB3 274,714 8,699 SH   DFND 1 0 8,699 0
ASTRAZENECA PLC SPONSORED ADR 046353108 BBG001SB80N8 838,560 12,000 SH   DFND 1 0 12,000 0
AT&T INC COM 00206R102 BBG001S5VWH2 347,280 12,000 SH   DFND 1 0 12,000 0
AUTOZONE INC COM 053332102 BBG001S6Q5D9 4,454,676 1,200 SH   DFND 1 0 1,200 0
BANK MONTREAL QUE COM 063671101 BBG001S5Y203 332,443 3,005 SH   DFND 1 0 3,005 0
BANK NEW YORK MELLON CORP COM 064058100 BBG001S5P6Q6 1,843,155 20,230 SH   DFND 1 0 20,230 0
BANK NOVA SCOTIA HALIFAX COM 064149107 BBG001S5Y2B1 705,245 12,760 SH   DFND 1 0 12,760 0
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 BBG001S90346 3,206,082 6,600 SH   DFND 1 0 6,600 0
BHP GROUP LTD SPONSORED ADS 088606108 BBG001S5P5K4 226,023 4,700 SH   DFND 1 0 4,700 0
BOEING CO COM 097023105 BBG001S5P0V3 1,162,892 5,550 SH   DFND 1 0 5,550 0
BP PLC SPONSORED ADR 055622104 BBG001S5W4F5 594,230 19,854 SH   DFND 1 0 19,854 0
BRISTOL-MYERS SQUIBB CO COM 110122108 BBG001S8N8J6 1,416,474 30,600 SH   DFND 1 0 30,600 0
BRITISH AMERN TOB PLC SPONSORED ADR 110448107 BBG001S6VV46 2,800,800 59,176 SH   DFND 1 0 59,176 0
BROWN FORMAN CORP CL A 115637100 BBG001S5P4G2 329,640 12,000 SH   DFND 1 0 12,000 0
C H ROBINSON WORLDWIDE INC COM NEW 12541W209 BBG001SB6KF5 249,470 2,600 SH   DFND 1 0 2,600 0
CANADIAN IMPERIAL BK COMM COM 136069101 BBG001S5YBB1 1,308,301 18,471 SH   DFND 1 0 18,471 0
CANADIAN NATL RY CO COM 136375102 BBG001S8WVQ7 936,360 9,000 SH   DFND 1 0 9,000 0
CANADIAN PACIFIC KANSAS CITY COM 13646K108 BBG001S7F4Z8 3,017,650 38,068 SH   DFND 1 0 38,068 0
CATERPILLAR INC COM 149123101 BBG001S5PJ06 1,416,967 3,650 SH   DFND 1 0 3,650 0
CEMEX SAB DE CV SPON ADR NEW 151290889 BBG001SD8F15 339,570 49,000 SH   DFND 1 0 49,000 0
CHEVRON CORP NEW COM 166764100 BBG001S67ZC5 7,918,264 55,299 SH   DFND 1 0 55,299 0
CINCINNATI FINL CORP COM 172062101 BBG001S5PTM0 2,978,400 20,000 SH   DFND 1 0 20,000 0
CISCO SYS INC COM 17275R102 BBG001S6HC62 631,358 9,100 SH   DFND 1 0 9,100 0
COCA COLA CO COM 191216100 BBG001S5SMQ8 290,075 4,100 SH   DFND 1 0 4,100 0
CONOCOPHILLIPS COM 20825C104 BBG001S5TZM2 4,145,988 46,200 SH   DFND 1 0 46,200 0
CONSOLIDATED EDISON INC COM 209115104 BBG001S5QRL4 4,415,400 44,000 SH   DFND 1 0 44,000 0
CONSTELLATION BRANDS INC CL A 21036P108 BBG001SD31G5 683,256 4,200 SH   DFND 1 0 4,200 0
CSX CORP COM 126408103 BBG001S5Q7Q3 6,656,520 204,000 SH   DFND 1 0 204,000 0
CUMMINS INC COM 231021106 BBG001S5Q9M3 262,000 800 SH   DFND 1 0 800 0
DEERE & CO COM 244199105 BBG001S5QFF7 305,094 600 SH   DFND 1 0 600 0
DOUGLAS ELLIMAN INC COM 25961D105 BBG013ZGQFH8 188,400 81,207 SH   DFND 1 0 81,207 0
DOW INC COM 260557103 BBG00BN96931 354,594 13,391 SH   DFND 1 0 13,391 0
DUKE ENERGY CORP NEW COM NEW 26441C204 BBG001S5QNR7 1,262,600 10,700 SH   DFND 1 0 10,700 0
DUPONT DE NEMOURS INC COM 26614N102 BBG00BN961H3 268,873 3,920 SH   DFND 1 0 3,920 0
EASTMAN CHEM CO COM 277432100 BBG001S7JNP3 4,875,298 65,300 SH   DFND 1 0 65,300 0
ELEVANCE HEALTH INC COM 036752103 BBG001S6KBQ8 252,824 650 SH   DFND 1 0 650 0
ELI LILLY & CO COM 532457108 BBG001S5STL8 8,418,924 10,800 SH   DFND 1 0 10,800 0
ENBRIDGE INC COM 29250N105 BBG001S6Q6D7 517,237 11,413 SH   DFND 1 0 11,413 0
ENTERGY CORP NEW COM 29364G103 BBG001S67KF5 465,472 5,600 SH   DFND 1 0 5,600 0
ENTERPRISE PRODS PARTNERS L COM 293792107 BBG001S9P0Z1 3,721,200 120,000 SH   DFND 1 0 120,000 0
EQUINOR ASA SPONSORED ADR 29446M102 BBG001SJ3R93 476,252 18,944 SH   DFND 1 0 18,944 0
EXXON MOBIL CORP COM 30231G102 BBG001S69V32 5,217,520 48,400 SH   DFND 1 0 48,400 0
FEDEX CORP COM 31428X106 BBG001S5R3M5 4,716,683 20,750 SH   DFND 1 0 20,750 0
FIRST HORIZON CORPORATION COM 320517105 BBG001SCW8R8 3,604,000 170,000 SH   DFND 1 0 170,000 0
FIRSTENERGY CORP COM 337932107 BBG001S5R3N4 1,328,580 33,000 SH   DFND 1 0 33,000 0
FREEPORT-MCMORAN INC CL B 35671D857 BBG001S5R3F3 1,157,445 26,700 SH   DFND 1 0 26,700 0
GE VERNOVA INC COM 36828A101 BBG013G17W77 347,122 656 SH   DFND 1 0 656 0
HCA HEALTHCARE INC COM 40412C101 BBG001T8NTY2 3,869,310 10,100 SH   DFND 1 0 10,100 0
HEARTLAND EXPRESS INC COM 422347104 BBG001S5S1D8 704,678 81,560 SH   DFND 1 0 81,560 0
HOME DEPOT INC COM 437076102 BBG001S5RTW7 1,723,208 4,700 SH   DFND 1 0 4,700 0
HONEYWELL INTL INC COM 438516106 BBG001S5X1N1 244,524 1,050 SH   DFND 1 0 1,050 0
HSBC HLDGS PLC SPON ADR NEW 404280406 BBG001SCZVC0 823,401 13,545 SH   DFND 1 0 13,545 0
HUB GROUP INC CL A 443320106 BBG001S8SNQ0 267,440 8,000 SH   DFND 1 0 8,000 0
HUNT J B TRANS SVCS INC COM 445658107 BBG001S5SFY4 617,480 4,300 SH   DFND 1 0 4,300 0
INTEL CORP COM 458140100 BBG001S5SF65 425,600 19,000 SH   DFND 1 0 19,000 0
INTERNATIONAL PAPER CO COM 460146103 BBG001S5SBF4 9,525,222 203,400 SH   DFND 1 0 203,400 0
JPMORGAN CHASE & CO. COM 46625H100 BBG001S8CRC3 7,685,514 26,510 SH   DFND 1 0 26,510 0
KEYCORP COM 493267108 BBG001S5SKV6 226,460 13,000 SH   DFND 1 0 13,000 0
KINDER MORGAN INC DEL COM 49456B101 BBG001TG2YZ5 1,323,000 45,000 SH   DFND 1 0 45,000 0
KNIGHT-SWIFT TRANSN HLDGS IN CL A 499049104 BBG001T9BTS0 3,689,667 83,420 SH   DFND 1 0 83,420 0
KROGER CO COM 501044101 BBG001S5SN40 394,515 5,500 SH   DFND 1 0 5,500 0
LAM RESEARCH CORP COM NEW 512807306 BBG001S5SW40 438,030 4,500 SH   DFND 1 0 4,500 0
LANDSTAR SYS INC COM 515098101 BBG001S5RWM1 1,265,082 9,100 SH   DFND 1 0 9,100 0
LOCKHEED MARTIN CORP COM 539830109 BBG001S7PS57 224,160 484 SH   DFND 1 0 484 0
LOWES COS INC COM 548661107 BBG001S5SVL3 2,329,635 10,500 SH   DFND 1 0 10,500 0
MARATHON PETE CORP COM 56585A102 BBG001S169P1 6,903,199 41,558 SH   DFND 1 0 41,558 0
MARRIOTT INTL INC NEW CL A 571903202 BBG001S78K44 321,022 1,175 SH   DFND 1 0 1,175 0
MCDONALDS CORP COM 580135101 BBG001S5T110 584,340 2,000 SH   DFND 1 0 2,000 0
MERCK & CO INC COM 58933Y105 BBG001S5TC52 1,147,662 14,498 SH   DFND 1 0 14,498 0
META PLATFORMS INC CL A 30303M102 BBG001SQCQC5 3,321,405 4,500 SH   DFND 1 0 4,500 0
MICRON TECHNOLOGY INC COM 595112103 BBG001S6P675 443,700 3,600 SH   DFND 1 0 3,600 0
MICROSOFT CORP COM 594918104 BBG001S5TD05 10,060,117 20,225 SH   DFND 1 0 20,225 0
MONDELEZ INTL INC CL A 609207105 BBG001SHHZJ3 337,200 5,000 SH   DFND 1 0 5,000 0
MOODYS CORP COM 615369105 BBG001S5VP87 326,034 650 SH   DFND 1 0 650 0
MORGAN STANLEY COM NEW 617446448 BBG001S9V5Z3 2,253,760 16,000 SH   DFND 1 0 16,000 0
NISOURCE INC COM 65473P105 BBG001S5TMF9 403,400 10,000 SH   DFND 1 0 10,000 0
NOKIA CORP SPONSORED ADR 654902204 BBG001SCPCG9 145,040 28,000 SH   DFND 1 0 28,000 0
NORFOLK SOUTHN CORP COM 655844108 BBG001S5TQJ6 4,479,475 17,500 SH   DFND 1 0 17,500 0
NOVARTIS AG SPONSORED ADR 66987V109 BBG001SF5LW6 423,535 3,500 SH   DFND 1 0 3,500 0
NUCOR CORP COM 670346105 BBG001S5TRV0 1,696,974 13,100 SH   DFND 1 0 13,100 0
NVIDIA CORPORATION COM 67066G104 BBG001S5TZJ6 947,940 6,000 SH   DFND 1 0 6,000 0
OLD DOMINION FREIGHT LINE IN COM 679580100 BBG001S6WQT9 568,050 3,500 SH   DFND 1 0 3,500 0
OLD REP INTL CORP COM 680223104 BBG001S6M9Y2 3,152,080 82,000 SH   DFND 1 0 82,000 0
ONEOK INC NEW COM 682680103 BBG001S5TWK1 6,409,179 78,515 SH   DFND 1 0 78,515 0
PBF ENERGY INC CL A 69318G106 BBG002832HM6 275,209 12,700 SH   DFND 1 0 12,700 0
PFIZER INC COM 717081103 BBG001S5V466 3,077,195 126,947 SH   DFND 1 0 126,947 0
PHILIP MORRIS INTL INC COM 718172109 BBG001STP9N1 1,256,697 6,900 SH   DFND 1 0 6,900 0
PHILLIPS 66 COM 718546104 BBG00286S4P7 2,165,295 18,150 SH   DFND 1 0 18,150 0
PPL CORP COM 69351T106 BBG001S5VC31 484,627 14,300 SH   DFND 1 0 14,300 0
PROLOGIS INC. COM 74340W103 BBG001S5NMN6 280,145 2,665 SH   DFND 1 0 2,665 0
ROYAL BK CDA COM 780087102 BBG001S60869 275,071 2,091 SH   DFND 1 0 2,091 0
SANOFI SPONSORED ADR 80105N105 BBG001S5W768 348,460 7,213 SH   DFND 1 0 7,213 0
SCHNEIDER NATIONAL INC CL B 80689H102 BBG001SF1R75 275,310 11,400 SH   DFND 1 0 11,400 0
SEAGATE TECHNOLOGY HLDNGS PL ORD SHS G7997R103 BBG0113JGQG9 562,887 3,900 SH   DFND 1 0 3,900 0
SHELL PLC SPON ADS 780259305 BBG0147BN6H1 1,791,160 25,439 SH   DFND 1 0 25,439 0
SOUTHERN CO COM 842587107 BBG001S5W777 1,010,130 11,000 SH   DFND 1 0 11,000 0
SOUTHERN COPPER CORP COM 84265V105 BBG001S6ZM88 1,188,748 11,750 SH   DFND 1 0 11,750 0
SUBURBAN PROPANE PARTNERS L UNIT LTD PARTN 864482104 BBG001S6DDV6 296,480 16,000 SH   DFND 1 0 16,000 0
TAIWAN SEMICONDUCTOR MFG LTD SPONSORED ADS 874039100 BBG001S5WWW4 1,247,960 5,510 SH   DFND 1 0 5,510 0
TESLA INC COM 88160R101 BBG001SQKGD7 444,724 1,400 SH   DFND 1 0 1,400 0
TORONTO DOMINION BK ONT COM NEW 891160509 BBG001S60L15 764,630 10,395 SH   DFND 1 0 10,395 0
TRACTOR SUPPLY CO COM 892356106 BBG001S7K017 844,320 16,000 SH   DFND 1 0 16,000 0
UMH PPTYS INC COM 903002103 BBG001S7JRQ3 6,365,727 379,138 SH   DFND 1 0 379,138 0
UNION PAC CORP COM 907818108 BBG001S5X2M0 5,061,760 22,000 SH   DFND 1 0 22,000 0
UNITED PARCEL SERVICE INC CL B 911312106 BBG001SDGSH1 1,488,865 14,750 SH   DFND 1 0 14,750 0
UNITEDHEALTH GROUP INC COM 91324P102 BBG001S6WCJ1 1,809,426 5,800 SH   DFND 1 0 5,800 0
UWM HOLDINGS CORPORATION COM CL A 91823B109 BBG00R24YP79 66,240 16,000 SH   DFND 1 0 16,000 0
VALERO ENERGY CORP COM 91913Y100 BBG001S5X8K9 3,071,497 22,850 SH   DFND 1 0 22,850 0
VERIZON COMMUNICATIONS INC COM 92343V104 BBG001S67QY1 618,761 14,300 SH   DFND 1 0 14,300 0
VIATRIS INC COM 92556V106 BBG00Y52JV51 134,004 15,006 SH   DFND 1 0 15,006 0
VULCAN MATLS CO COM 929160109 BBG001S5X8R2 756,378 2,900 SH   DFND 1 0 2,900 0
WALMART INC COM 931142103 BBG001S5XH92 1,026,690 10,500 SH   DFND 1 0 10,500 0
WELLTOWER INC COM 95040Q104 BBG001S5RTQ4 245,968 1,600 SH   DFND 1 0 1,600 0
WERNER ENTERPRISES INC COM 950755108 BBG001S5XDR1 630,812 23,056 SH   DFND 1 0 23,056 0
WILLIAMS COS INC COM 969457100 BBG001S5XH10 1,553,228 24,729 SH   DFND 1 0 24,729 0
XPO INC COM 983793100 BBG001SJW3C0 631,450 5,000 SH   DFND 1 0 5,000 0