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 (x$1000) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
3M CO COM 88579Y101 2,627 22,000 SH   DFND 2,3 22,000 0 0
AGILENT TECHNOLOGIES INC COM 00846U101 1,538 30,000 SH   DFND 2,3 30,000 0 0
AIR PRODS & CHEMS INC COM 009158106 20,568 193,000 SH   DFND 2,3 193,000 0 0
AIR PRODS & CHEMS INC COM 009158106 746 7,000 SH   DFND 3 7,000 0 0
AIR PRODS & CHEMS INC COM 009158106 4,849 45,500 SH   DFND 3,4 45,500 0 0
AIR PRODS & CHEMS INC COM 009158106 43,108 404,500 SH   DFND 5 404,500 0 0
AIRGAS INC COM 009363102 3,665 34,560 SH   DFND 2,3 34,560 0 0
AIRGAS INC COM 009363102 10,978 103,520 SH   DFND 3 103,520 0 0
AIRGAS INC COM 009363102 725 6,840 SH   DFND 3,4 6,840 0 0
AIRGAS INC COM 009363102 11,144 105,080 SH   DFND 5 105,080 0 0
AMERICAN EXPRESS CO COM 025816109 2,643 35,000 SH   DFND 2,3 35,000 0 0
AMERICAN HOMES 4 RENT CL A 02665T306 6,266 388,000 SH   DFND 2,3 388,000 0 0
AMERICAN HOMES 4 RENT CL A 02665T306 101,164 6,264,000 SH   DFND 3 6,264,000 0 0
AMERICAN HOMES 4 RENT CL A 02665T306 1,454 90,000 SH   DFND 3,4 90,000 0 0
AMERICAN HOMES 4 RENT CL A 02665T306 12,242 758,000 SH   DFND 5 758,000 0 0
APACHE CORP COM 037411105 22,954 269,600 SH   DFND 2,3 269,600 0 0
APACHE CORP COM 037411105 837 9,831 SH   DFND 3 9,831 0 0
APACHE CORP COM 037411105 5,338 62,700 SH   DFND 3,4 62,700 0 0
APACHE CORP COM 037411105 56,011 657,869 SH   DFND 5 657,869 0 0
APPLE INC COM 037833100 24,791 52,000 SH   DFND 2,3 52,000 0 0
APPLE INC COM 037833100 834 1,750 SH   DFND 3 1,750 0 0
APPLE INC COM 037833100 4,768 10,000 SH   DFND 3,4 10,000 0 0
APPLE INC COM 037833100 119,783 251,250 SH   DFND 5 251,250 0 0
AT&T INC COM 00206R102 2,029 60,000 SH   DFND 2,3 60,000 0 0
AUTODESK INC COM 052769106 1,029 25,000 SH   DFND 2,3 25,000 0 0
AUTOMATIC DATA PROCESSING IN COM 053015103 1,448 20,000 SH   DFND 2,3 20,000 0 0
BERKSHIRE HATHAWAY INC DEL CL B 084670702 2,270 20,000 SH   DFND 2,3 20,000 0 0
BOEING CO COM 097023105 22,145 188,470 SH   DFND 2,3 188,470 0 0
BOEING CO COM 097023105 25,028 213,000 SH   DFND 3 213,000 0 0
BOEING CO COM 097023105 5,053 43,000 SH   DFND 3,4 43,000 0 0
BOEING CO COM 097023105 42,535 362,000 SH   DFND 5 362,000 0 0
CEDAR FAIR L P DEPOSITRY UNIT 150185106 37,932 870,000 SH   DFND 2,3 870,000 0 0
CHUBB CORP COM 171232101 2,678 30,000 SH   DFND 2,3 30,000 0 0
COCA COLA CO COM 191216100 2,273 60,000 SH   DFND 2,3 60,000 0 0
CONOCOPHILLIPS COM 20825C104 2,085 30,000 SH   DFND 2,3 30,000 0 0
COSTCO WHSL CORP NEW COM 22160K105 2,303 20,000 SH   DFND 2,3 20,000 0 0
CUMMINS INC COM 231021106 14,246 107,220 SH   DFND 2,3 107,220 0 0
CUMMINS INC COM 231021106 429 3,230 SH   DFND 3 3,230 0 0
CUMMINS INC COM 231021106 2,903 21,850 SH   DFND 3,4 21,850 0 0
CUMMINS INC COM 231021106 24,275 182,700 SH   DFND 5 182,700 0 0
DEERE & CO COM 244199105 2,442 30,000 SH   DFND 2,3 30,000 0 0
DEVON ENERGY CORP NEW COM 25179M103 8,246 142,770 SH   DFND 2,3 142,770 0 0
DEVON ENERGY CORP NEW COM 25179M103 3,639 63,000 SH   DFND 3 63,000 0 0
DEVON ENERGY CORP NEW COM 25179M103 1,883 32,600 SH   DFND 3,4 32,600 0 0
DEVON ENERGY CORP NEW COM 25179M103 61,320 1,061,630 SH   DFND 5 1,061,630 0 0
DISNEY WALT CO COM DISNEY 254687106 2,902 45,000 SH   DFND 2,3 45,000 0 0
DOLLAR GEN CORP NEW COM 256677105 16,486 292,000 SH   DFND 2,3 292,000 0 0
DOLLAR GEN CORP NEW COM 256677105 621 11,000 SH   DFND 3 11,000 0 0
DOLLAR GEN CORP NEW COM 256677105 3,952 70,000 SH   DFND 3,4 70,000 0 0
DOLLAR GEN CORP NEW COM 256677105 32,577 577,000 SH   DFND 5 577,000 0 0
DU PONT EI DE NEMOURS & CO COM 263534109 2,050 35,000 SH   DFND 2,3 35,000 0 0
EMERSON ELEC CO COM 291011104 12,697 196,240 SH   DFND 2,3 196,240 0 0
EMERSON ELEC CO COM 291011104 386 5,960 SH   DFND 3 5,960 0 0
EMERSON ELEC CO COM 291011104 2,290 35,400 SH   DFND 3,4 35,400 0 0
EMERSON ELEC CO COM 291011104 19,565 302,400 SH   DFND 5 302,400 0 0
EXXON MOBIL CORP COM 30231G102 2,581 30,000 SH   DFND 2,3 30,000 0 0
FEDEX CORP COM 31428X106 1,712 15,000 SH   DFND 2,3 15,000 0 0
FREEPORT-MCMORAN COPPER & GO COM 35671D857 37,215 1,125,000 SH   DFND 2,3 1,125,000 0 0
FREEPORT-MCMORAN COPPER & GO COM 35671D857 3,970 120,000 SH   DFND 3 120,000 0 0
FREEPORT-MCMORAN COPPER & GO COM 35671D857 12,405 375,000 SH   DFND 3,4 375,000 0 0
FREEPORT-MCMORAN COPPER & GO COM 35671D857 12,570 380,000 SH   DFND 5 380,000 0 0
GOOGLE INC COM 38259P508 2,190 2,500 SH   DFND 2,3 2,500 0 0
HESS CORP COM 42809H107 11,601 150,000 SH   DFND 0 150,000 0 0
HESS CORP COM 42809H107 21,104 272,868 SH   DFND 2,3 272,868 0 0
HESS CORP COM 42809H107 551 7,128 SH   DFND 3 7,128 0 0
HESS CORP COM 42809H107 4,816 62,265 SH   DFND 3,4 62,265 0 0
HESS CORP COM 42809H107 41,395 535,239 SH   DFND 5 535,239 0 0
HOME DEPOT INC COM 437076102 1,517 20,000 SH   DFND 2,3 20,000 0 0
INTEL CORP COM 458140100 18,861 815,000 SH   DFND 2,3 815,000 0 0
INTEL CORP COM 458140100 963 42,000 SH   DFND 3 42,000 0 0
INTEL CORP COM 458140100 5,134 224,000 SH   DFND 3,4 224,000 0 0
INTEL CORP COM 458140100 32,180 1,404,000 SH   DFND 5 1,404,000 0 0
INTERNATIONAL BUSINESS MACHS COM 459200101 2,222 12,000 SH   DFND 2,3 12,000 0 0
JOHNSON AND JOHNSON COM 478160104 2,601 30,000 SH   DFND 2,3 30,000 0 0
JPMORGAN CHASE & CO COM 46625H100 1,551 30,000 SH   DFND 2,3 30,000 0 0
KELLOGG CO COM 487836108 2,056 35,000 SH   DFND 2,3 35,000 0 0
LAS VEGAS SANDS CORP COM 517834107 14,298 215,270 SH   DFND 2,3 215,270 0 0
LAS VEGAS SANDS CORP COM 517834107 436 6,560 SH   DFND 3 6,560 0 0
LAS VEGAS SANDS CORP COM 517834107 2,849 42,900 SH   DFND 3,4 42,900 0 0
LAS VEGAS SANDS CORP COM 517834107 24,084 362,600 SH   DFND 5 362,600 0 0
LAUDER ESTEE COS INC CL A 518439104 1,748 25,000 SH   DFND 2,3 25,000 0 0
LILLY ELI & CO COM 532457108 2,517 50,000 SH   DFND 2,3 50,000 0 0
LOEWS CORP COM 540424108 1,169 25,000 SH   DFND 2,3 25,000 0 0
MCKESSON CORP COM 58155Q103 17,476 136,215 SH   DFND 2,3 136,215 0 0
MCKESSON CORP COM 58155Q103 634 4,945 SH   DFND 3 4,945 0 0
MCKESSON CORP COM 58155Q103 4,022 31,347 SH   DFND 3,4 31,347 0 0
MCKESSON CORP COM 58155Q103 35,602 277,493 SH   DFND 5 277,493 0 0
MEDTRONIC INC COM 585055106 2,929 55,000 SH   DFND 2,3 55,000 0 0
MICROSOFT CORP COM 594918104 2,829 85,000 SH   DFND 2,3 85,000 0 0
NOBLE ENERGY INC COM 655044105 2,680 40,000 SH   DFND 2,3 40,000 0 0
NORDSTROM INC COM 655664100 1,686 30,000 SH   DFND 2,3 30,000 0 0
NOVARTIS AG SPONSORED ADR 66987V109 1,918 25,000 SH   DFND 2,3 25,000 0 0
OCCIDENTAL PETE CORP DEL COM 674599105 29,908 319,738 SH   DFND 2,3 319,738 0 0
OCCIDENTAL PETE CORP DEL COM 674599105 1,016 10,862 SH   DFND 3 10,862 0 0
OCCIDENTAL PETE CORP DEL COM 674599105 6,492 69,400 SH   DFND 3,4 69,400 0 0
OCCIDENTAL PETE CORP DEL COM 674599105 70,155 750,000 SH   DFND 5 750,000 0 0
OLD REP INTL CORP COM 680223104 35,420 2,300,000 SH   DFND 3 2,300,000 0 0
ORACLE CORP COM 68389X105 12,322 371,470 SH   DFND 2,3 371,470 0 0
ORACLE CORP COM 68389X105 365 11,010 SH   DFND 3 11,010 0 0
ORACLE CORP COM 68389X105 2,412 72,710 SH   DFND 3,4 72,710 0 0
ORACLE CORP COM 68389X105 20,062 604,810 SH   DFND 5 604,810 0 0
PACCAR INC COM 693718108 1,670 30,000 SH   DFND 2,3 30,000 0 0
PHILIP MORRIS INTL INC COM 718172109 21,442 247,624 SH   DFND 2,3 247,624 0 0
PHILIP MORRIS INTL INC COM 718172109 4,672 53,959 SH   DFND 3,4 53,959 0 0
PHILIP MORRIS INTL INC COM 718172109 724 8,359 SH   DFND 3 8,359 0 0
PHILIP MORRIS INTL INC COM 718172109 39,403 455,058 SH   DFND 5 455,058 0 0
PROCTER & GAMBLE CO COM 742718109 2,268 30,000 SH   DFND 2,3 30,000 0 0
SAP AG-SPONSORED ADR SPONSORED ADR 803054204 16,689 225,776 SH   DFND 2,3 225,776 0 0
SAP AG-SPONSORED ADR SPONSORED ADR 803054204 29,511 399,224 SH   DFND 5 399,224 0 0
SCHLUMBERGER LTD COM 806857108 2,651 30,000 SH   DFND 2,3 30,000 0 0
SIGMA ALDRICH CORP COM 826552101 1,706 20,000 SH   DFND 2,3 20,000 0 0
SYSCO CORP COM 871829107 1,273 40,000 SH   DFND 2,3 40,000 0 0
TIME WARNER CABLE INC COM 88732J207 3,902 34,960 SH   DFND 2,3 34,960 0 0
TIME WARNER CABLE INC COM 88732J207 189 1,697 SH   DFND 3 1,697 0 0
TIME WARNER CABLE INC COM 88732J207 1,334 11,950 SH   DFND 3,4 11,950 0 0
TIME WARNER CABLE INC COM 88732J207 39,215 351,393 SH   DFND 5 351,393 0 0
TRONOX LTD SHS CL A Q9235V101 21,687 886,274 SH   DFND 2,3 886,274 0 0
TRONOX LTD SHS CL A Q9235V101 785 32,092 SH   DFND 3 32,092 0 0
TRONOX LTD SHS CL A Q9235V101 5,018 205,084 SH   DFND 3,4 205,084 0 0
TRONOX LTD SHS CL A Q9235V101 39,531 1,615,505 SH   DFND 5 1,615,505 0 0
UNITED PARCEL SERVICE INC CL B 911312106 28,507 312,000 SH   DFND 2,3 312,000 0 0
UNITED PARCEL SERVICE INC CL B 911312106 1,096 12,000 SH   DFND 3 12,000 0 0
UNITED PARCEL SERVICE INC CL B 911312106 6,944 76,000 SH   DFND 3,4 76,000 0 0
UNITED PARCEL SERVICE INC CL B 911312106 9,137 100,000 SH   DFND 5 100,000 0 0
US BANCORP DEL COM NEW 902973304 1,280 35,000 SH   DFND 2,3 35,000 0 0
VISA INC COM CL A 92826C839 38,220 200,000 SH   DFND 0 200,000 0 0
VISA INC COM CL A 92826C839 72,236 378,000 SH   DFND 2,3 378,000 0 0
VISA INC COM CL A 92826C839 3,058 16,000 SH   DFND 3 16,000 0 0
VISA INC COM CL A 92826C839 20,257 106,000 SH   DFND 3,4 106,000 0 0
VISA INC COM CL A 92826C839 49,686 260,000 SH   DFND 5 260,000 0 0
WAL MART STORES INC COM 931142103 18,637 251,990 SH   DFND 2,3 251,990 0 0
WAL MART STORES INC COM 931142103 573 7,750 SH   DFND 3 7,750 0 0
WAL MART STORES INC COM 931142103 3,716 50,250 SH   DFND 3,4 50,250 0 0
WAL MART STORES INC COM 931142103 31,434 425,010 SH   DFND 5 425,010 0 0
WELLS FARGO & CO NEW COM 949746101 12,231 296,000 SH   DFND 2,3 296,000 0 0
WELLS FARGO & CO NEW COM 949746101 393 9,500 SH   DFND 3 9,500 0 0
WELLS FARGO & CO NEW COM 949746101 2,500 60,500 SH   DFND 3,4 60,500 0 0
WELLS FARGO & CO NEW COM 949746101 34,874 844,000 SH   DFND 5 844,000 0 0