ABBVIE INC COM 00287Y109 BBG0025Y4RZ3 1777000 10000 SH DFND 1 0 10000 0 ALTRIA GROUP INC COM 02209S103 BBG001S5T8T5 2187761 41839 SH DFND 1 0 41839 0 AMAZON COM INC COM 023135106 BBG001S5PQL7 789804 3600 SH DFND 1 0 3600 0 AMERICAN ELEC PWR CO INC COM 025537101 BBG001S5NFD2 1383450 15000 SH DFND 1 0 15000 0 APPLE INC COM 037833100 BBG001S5N8V8 13247218 52900 SH DFND 1 0 52900 0 ARCELORMITTAL SA LUXEMBOURG NY REGISTRY SH 03938L203 BBG001S8JFB3 201208 8699 SH DFND 1 0 8699 0 ASTRAZENECA PLC SPONSORED ADR 046353108 BBG001SB80N8 786240 12000 SH DFND 1 0 12000 0 AT&T INC COM 00206R102 BBG001S5VWH2 273240 12000 SH DFND 1 0 12000 0 AUTOZONE INC COM 053332102 BBG001S6Q5D9 3522200 1100 SH DFND 1 0 1100 0 BANK MONTREAL QUE COM 063671101 BBG001S5Y203 291635 3005 SH DFND 1 0 3005 0 BANK NEW YORK MELLON CORP COM 064058100 BBG001S5P6Q6 1554271 20230 SH DFND 1 0 20230 0 BANK NOVA SCOTIA HALIFAX COM 064149107 BBG001S5Y2B1 685467 12760 SH DFND 1 0 12760 0 BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 BBG001S90346 2991648 6600 SH DFND 1 0 6600 0 BHP GROUP LTD SPONSORED ADS 088606108 BBG001S5P5K4 229501 4700 SH DFND 1 0 4700 0 BOEING CO COM 097023105 BBG001S5P0V3 354000 2000 SH DFND 1 0 2000 0 BP PLC SPONSORED ADR 055622104 BBG001S5W4F5 586884 19854 SH DFND 1 0 19854 0 BRISTOL-MYERS SQUIBB CO COM 110122108 BBG001S8N8J6 1730736 30600 SH DFND 1 0 30600 0 BRITISH AMERN TOB PLC SPONSORED ADR 110448107 BBG001S6VV46 2149272 59176 SH DFND 1 0 59176 0 C H ROBINSON WORLDWIDE INC COM NEW 12541W209 BBG001SB6KF5 268632 2600 SH DFND 1 0 2600 0 CANADIAN IMPERIAL BK COMM COM 136069101 BBG001S5YBB1 1167921 18471 SH DFND 1 0 18471 0 CANADIAN NATL RY CO COM 136375102 BBG001S8WVQ7 913590 9000 SH DFND 1 0 9000 0 CANADIAN PACIFIC KANSAS CITY COM 13646K108 BBG001S7F4Z8 2754981 38068 SH DFND 1 0 38068 0 CATERPILLAR INC COM 149123101 BBG001S5PJ06 1324074 3650 SH DFND 1 0 3650 0 CEMEX SAB DE CV SPON ADR NEW 151290889 BBG001SD8F15 276360 49000 SH DFND 1 0 49000 0 CHEVRON CORP NEW COM 166764100 BBG001S67ZC5 8009507 55299 SH DFND 1 0 55299 0 CINCINNATI FINL CORP COM 172062101 BBG001S5PTM0 2874000 20000 SH DFND 1 0 20000 0 CISCO SYS INC COM 17275R102 BBG001S6HC62 538720 9100 SH DFND 1 0 9100 0 COCA COLA CO COM 191216100 BBG001S5SMQ8 255266 4100 SH DFND 1 0 4100 0 CONOCOPHILLIPS COM 20825C104 BBG001S5TZM2 4581654 46200 SH DFND 1 0 46200 0 CONSOLIDATED EDISON INC COM 209115104 BBG001S5QRL4 3926120 44000 SH DFND 1 0 44000 0 CONSTELLATION BRANDS INC CL A 21036P108 BBG001SD31G5 596700 2700 SH DFND 1 0 2700 0 CSX CORP COM 126408103 BBG001S5Q7Q3 6486270 201000 SH DFND 1 0 201000 0 CUMMINS INC COM 231021106 BBG001S5Q9M3 278880 800 SH DFND 1 0 800 0 DEERE & CO COM 244199105 BBG001S5QFF7 254220 600 SH DFND 1 0 600 0 DOUGLAS ELLIMAN INC COM 25961D105 BBG013ZGQFH8 135616 81207 SH DFND 1 0 81207 0 DOW INC COM 260557103 BBG00BN96931 537381 13391 SH DFND 1 0 13391 0 DUKE ENERGY CORP NEW COM NEW 26441C204 BBG001S5QNR7 1152818 10700 SH DFND 1 0 10700 0 DUPONT DE NEMOURS INC COM 26614N102 BBG00BN961H3 298900 3920 SH DFND 1 0 3920 0 EASTMAN CHEM CO COM 277432100 BBG001S7JNP3 5031732 55100 SH DFND 1 0 55100 0 ELEVANCE HEALTH INC COM 036752103 BBG001S6KBQ8 239785 650 SH DFND 1 0 650 0 ELI LILLY & CO COM 532457108 BBG001S5STL8 8337600 10800 SH DFND 1 0 10800 0 ENBRIDGE INC COM 29250N105 BBG001S6Q6D7 484254 11413 SH DFND 1 0 11413 0 ENTERGY CORP NEW COM 29364G103 BBG001S67KF5 424592 5600 SH DFND 1 0 5600 0 ENTERPRISE PRODS PARTNERS L COM 293792107 BBG001S9P0Z1 3763200 120000 SH DFND 1 0 120000 0 EQUINOR ASA SPONSORED ADR 29446M102 BBG001SJ3R93 448783 18944 SH DFND 1 0 18944 0 EXXON MOBIL CORP COM 30231G102 BBG001S69V32 5206388 48400 SH DFND 1 0 48400 0 FEDEX CORP COM 31428X106 BBG001S5R3M5 4290283 15250 SH DFND 1 0 15250 0 FIRST HORIZON CORPORATION COM 320517105 BBG001SCW8R8 3423800 170000 SH DFND 1 0 170000 0 FIRST INDL RLTY TR INC COM 32054K103 BBG001S81Z00 200520 4000 SH DFND 1 0 4000 0 FIRSTENERGY CORP COM 337932107 BBG001S5R3N4 1312740 33000 SH DFND 1 0 33000 0 FREEPORT-MCMORAN INC CL B 35671D857 BBG001S5R3F3 1016736 26700 SH DFND 1 0 26700 0 GE VERNOVA INC COM 36828A101 BBG013G17W77 215778 656 SH DFND 1 0 656 0 HCA HEALTHCARE INC COM 40412C101 BBG001T8NTY2 3031515 10100 SH DFND 1 0 10100 0 HEARTLAND EXPRESS INC COM 422347104 BBG001S5S1D8 740352 65985 SH DFND 1 0 65985 0 HOME DEPOT INC COM 437076102 BBG001S5RTW7 1828253 4700 SH DFND 1 0 4700 0 HONEYWELL INTL INC COM 438516106 BBG001S5X1N1 237185 1050 SH DFND 1 0 1050 0 HSBC HLDGS PLC SPON ADR NEW 404280406 BBG001SCZVC0 669936 13545 SH DFND 1 0 13545 0 HUB GROUP INC CL A 443320106 BBG001S8SNQ0 356480 8000 SH DFND 1 0 8000 0 HUNT J B TRANS SVCS INC COM 445658107 BBG001S5SFY4 648508 3800 SH DFND 1 0 3800 0 INTEL CORP COM 458140100 BBG001S5SF65 380950 19000 SH DFND 1 0 19000 0 INTERNATIONAL PAPER CO COM 460146103 BBG001S5SBF4 10408788 193400 SH DFND 1 0 193400 0 JPMORGAN CHASE & CO. COM 46625H100 BBG001S8CRC3 6354712 26510 SH DFND 1 0 26510 0 KEYCORP COM 493267108 BBG001S5SKV6 222820 13000 SH DFND 1 0 13000 0 KINDER MORGAN INC DEL COM 49456B101 BBG001TG2YZ5 1233000 45000 SH DFND 1 0 45000 0 KNIGHT-SWIFT TRANSN HLDGS IN CL A 499049104 BBG001T9BTS0 4053317 76420 SH DFND 1 0 76420 0 KROGER CO COM 501044101 BBG001S5SN40 336325 5500 SH DFND 1 0 5500 0 LAM RESEARCH CORP COM NEW 512807306 BBG001S5SW40 325035 4500 SH DFND 1 0 4500 0 LANDSTAR SYS INC COM 515098101 BBG001S5RWM1 1563926 9100 SH DFND 1 0 9100 0 LOCKHEED MARTIN CORP COM 539830109 BBG001S7PS57 235195 484 SH DFND 1 0 484 0 LOWES COS INC COM 548661107 BBG001S5SVL3 2591400 10500 SH DFND 1 0 10500 0 MAIDEN HOLDINGS LTD SHS G5753U112 BBG001SV9XY9 25350 15000 SH DFND 1 0 15000 0 MARATHON PETE CORP COM 56585A102 BBG001S169P1 5797341 41558 SH DFND 1 0 41558 0 MARRIOTT INTL INC NEW CL A 571903202 BBG001S78K44 327755 1175 SH DFND 1 0 1175 0 MCDONALDS CORP COM 580135101 BBG001S5T110 579780 2000 SH DFND 1 0 2000 0 MERCK & CO INC COM 58933Y105 BBG001S5TC52 1342781 13498 SH DFND 1 0 13498 0 META PLATFORMS INC CL A 30303M102 BBG001SQCQC5 2634795 4500 SH DFND 1 0 4500 0 MICRON TECHNOLOGY INC COM 595112103 BBG001S6P675 302976 3600 SH DFND 1 0 3600 0 MICROSOFT CORP COM 594918104 BBG001S5TD05 8398388 19925 SH DFND 1 0 19925 0 MONDELEZ INTL INC CL A 609207105 BBG001SHHZJ3 298650 5000 SH DFND 1 0 5000 0 MOODYS CORP COM 615369105 BBG001S5VP87 307691 650 SH DFND 1 0 650 0 MORGAN STANLEY COM NEW 617446448 BBG001S9V5Z3 2011520 16000 SH DFND 1 0 16000 0 NISOURCE INC COM 65473P105 BBG001S5TMF9 367600 10000 SH DFND 1 0 10000 0 NOKIA CORP SPONSORED ADR 654902204 BBG001SCPCG9 124040 28000 SH DFND 1 0 28000 0 NORFOLK SOUTHN CORP COM 655844108 BBG001S5TQJ6 4107250 17500 SH DFND 1 0 17500 0 NOVARTIS AG SPONSORED ADR 66987V109 BBG001SF5LW6 340585 3500 SH DFND 1 0 3500 0 NUCOR CORP COM 670346105 BBG001S5TRV0 1528901 13100 SH DFND 1 0 13100 0 NVIDIA CORPORATION COM 67066G104 BBG001S5TZJ6 470015 3500 SH DFND 1 0 3500 0 OLD REP INTL CORP COM 680223104 BBG001S6M9Y2 2967580 82000 SH DFND 1 0 82000 0 ONEOK INC NEW COM 682680103 BBG001S5TWK1 7882906 78515 SH DFND 1 0 78515 0 PBF ENERGY INC CL A 69318G106 BBG002832HM6 257535 9700 SH DFND 1 0 9700 0 PFIZER INC COM 717081103 BBG001S5V466 3261784 122947 SH DFND 1 0 122947 0 PHILIP MORRIS INTL INC COM 718172109 BBG001STP9N1 830415 6900 SH DFND 1 0 6900 0 PHILLIPS 66 COM 718546104 BBG00286S4P7 2067830 18150 SH DFND 1 0 18150 0 PPL CORP COM 69351T106 BBG001S5VC31 464178 14300 SH DFND 1 0 14300 0 PROLOGIS INC. COM 74340W103 BBG001S5NMN6 281691 2665 SH DFND 1 0 2665 0 ROYAL BK CDA COM 780087102 BBG001S60869 251986 2091 SH DFND 1 0 2091 0 SANOFI SPONSORED ADR 80105N105 BBG001S5W768 347883 7213 SH DFND 1 0 7213 0 SCHNEIDER NATIONAL INC CL B 80689H102 BBG001SF1R75 333792 11400 SH DFND 1 0 11400 0 SEAGATE TECHNOLOGY HLDNGS PL ORD SHS G7997R103 BBG0113JGQG9 336609 3900 SH DFND 1 0 3900 0 SHELL PLC SPON ADS 780259305 BBG0147BN6H1 1593753 25439 SH DFND 1 0 25439 0 SOUTHERN CO COM 842587107 BBG001S5W777 905520 11000 SH DFND 1 0 11000 0 SOUTHERN COPPER CORP COM 84265V105 BBG001S6ZM88 1052643 11551 SH DFND 1 0 11551 0 SUBURBAN PROPANE PARTNERS L UNIT LTD PARTN 864482104 BBG001S6DDV6 275200 16000 SH DFND 1 0 16000 0 TAIWAN SEMICONDUCTOR MFG LTD SPONSORED ADS 874039100 BBG001S5WWW4 1088170 5510 SH DFND 1 0 5510 0 TESLA INC COM 88160R101 BBG001SQKGD7 565376 1400 SH DFND 1 0 1400 0 TORONTO DOMINION BK ONT COM NEW 891160509 BBG001S60L15 553132 10395 SH DFND 1 0 10395 0 TRACTOR SUPPLY CO COM 892356106 BBG001S7K017 689780 13000 SH DFND 1 0 13000 0 UMH PPTYS INC COM 903002103 BBG001S7JRQ3 6974095 369391 SH DFND 1 0 369391 0 UNION PAC CORP COM 907818108 BBG001S5X2M0 5016880 22000 SH DFND 1 0 22000 0 UNITED PARCEL SERVICE INC CL B 911312106 BBG001SDGSH1 1670825 13250 SH DFND 1 0 13250 0 UNITEDHEALTH GROUP INC COM 91324P102 BBG001S6WCJ1 2933988 5800 SH DFND 1 0 5800 0 VALERO ENERGY CORP COM 91913Y100 BBG001S5X8K9 2801182 22850 SH DFND 1 0 22850 0 VERIZON COMMUNICATIONS INC COM 92343V104 BBG001S67QY1 451887 11300 SH DFND 1 0 11300 0 VIATRIS INC COM 92556V106 BBG00Y52JV51 186825 15006 SH DFND 1 0 15006 0 VULCAN MATLS CO COM 929160109 BBG001S5X8R2 745967 2900 SH DFND 1 0 2900 0 WALMART INC COM 931142103 BBG001S5XH92 948675 10500 SH DFND 1 0 10500 0 WELLTOWER INC COM 95040Q104 BBG001S5RTQ4 201648 1600 SH DFND 1 0 1600 0 WERNER ENTERPRISES INC COM 950755108 BBG001S5XDR1 801016 22300 SH DFND 1 0 22300 0 WILLIAMS COS INC COM 969457100 BBG001S5XH10 1338333 24729 SH DFND 1 0 24729 0 XPO INC COM 983793100 BBG001SJW3C0 655750 5000 SH DFND 1 0 5000 0