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
ALPHABET INC CAP STK CL A 02079K305 29,293 16,731 SH   DFND 01,02 16,731 0 0
ARGAN INC COM 04010E109 1,877 42,200 SH   DFND 01,02 42,200 0 0
ATLAS CORP SHARES Y0436Q109 1,079,086 99,638,552 SH   DFND 01,02 99,638,552 0 0
BANK OF NOVA SCOTIA COM 064149107 13,345 247,100 SH   DFND 01,02 247,100 0 0
BERKSHIRE HATHAWAY INC CL A 084670108 348 1 SH   DFND 01,02 1 0 0
BLACKBERRY LTD COM 09228F103 309,738 46,724,700 SH   DFND 01,02 46,724,700 0 0
BOOKING HOLDINGS INC COM 09857L108 14,445 6,500 SH   DFND 01,02 6,500 0 0
BROOKFIELD ASSET MGMT INC CL A LTD VT SH 112585104 1,444 35,000 SH   DFND 01,02 35,000 0 0
CELLULAR BIOMEDICINE GROUP INC COM NEW 15117P102 158 8,600 SH   DFND 01,02 8,600 0 0
CHEVRON CORP COM 166764100 13,148 155,800 SH   DFND 01,02 155,800 0 0
CIRRUS LOGIC INC COM 172755100 526 6,400 SH   DFND 01,02 6,400 0 0
COLLIERS INTL GROUP INC SUB VTG SHS 194693107 2,214 25,000 SH   DFND 01,02 25,000 0 0
CORELOGIC INC COM 21871D103 866 11,200 SH   DFND 01,02 11,200 0 0
CRESCENT CAPITAL BDC INC COM 225655109 55,273 3,796,246 SH   DFND 01,02 3,796,246 0 0
CROWN CASTLE INTL CORP COM 22822V101 637 4,000 SH   DFND 01,02 4,000 0 0
CVS HEALTH CORP COM 126650100 1,809 26,500 SH   DFND 01,02 26,500 0 0
DARLING INGREDIENTS INC COM 237266101 934 16,200 SH   DFND 01,02 16,200 0 0
DELEK US HOLDINGS INC COM 24665A103 1,125 70,000 SH   DFND 01,02 70,000 0 0
DENNY'S CORP COM 24869P104 1,380 94,000 SH   DFND 01,02 94,000 0 0
DIAMOND S SHIPPING INC COM Y20676105 6,891 1,034,681 SH   DFND 01,02 1,034,681 0 0
DINE BRANDS GLOBAL INC COM 254423106 1,481 25,500 SH   DFND 01,02 25,500 0 0
FIDELITY NATIONAL FINANCIAL FNF GROUP COM 31620R303 1,172 30,000 SH   DFND 01,02 30,000 0 0
FLIR SYS INC COM 302445101 833 19,000 SH   DFND 01,02 19,000 0 0
FRANKLIN RESOURCES INC COM 354613101 24,980 1,000,000 SH   DFND 01,02 1,000,000 0 0
FREIGHTCAR AMER INC COM 357023100 1,071 450,000 SH   DFND 01,02 450,000 0 0
GENERAL ELECTRIC CO COM 369604103 15,022 1,390,900 SH   DFND 01,02 1,390,900 0 0
GENERAL MTRS CO COM 37045V100 15,655 375,965 SH   DFND 01,02 375,965 0 0
GRAFTECH INTL LTD COM 384313508 9,080 852,628 SH   DFND 01,02 852,628 0 0
GRANITE REAL ESTATE INVT TR UNIT 99/99/9999 387437114 823 13,500 SH   DFND 01,02 13,500 0 0
HELMERICH & PAYNE INC COM 423452101 9,875 426,400 SH   DFND 01,02 426,400 0 0
IMAX CORP COM 45245E109 1,622 90,000 SH   DFND 01,02 90,000 0 0
IROBOT CORP COM 462726100 1,204 15,000 SH   DFND 01,02 15,000 0 0
JACOBS ENGR GROUP INC COM 469814107 1,199 11,000 SH   DFND 01,02 11,000 0 0
JOHNSON & JOHNSON COM 478160104 11,541 73,400 SH   DFND 01,02 73,400 0 0
KENNEDY-WILSON HOLDINGS INC COM 489398107 238,331 13,322,009 SH   DFND 01,02 13,322,009 0 0
KKR & CO INC COM 48251W104 1,620 40,000 SH   DFND 01,02 40,000 0 0
KULICKE & SOFFA INDS INC COM 501242101 1,940 61,000 SH   DFND 01,02 61,000 0 0
LHC GROUP INC COM 50187A107 405 1,900 SH   DFND 01,02 1,900 0 0
LIBERTY BROADBAND CORP COM SER C 530307305 1,010 6,380 SH   DFND 01,02 6,380 0 0
LIBERTY TRIPADVISOR HLDGS INC COM SER A 531465102 4,414 1,017,000 SH   DFND 01,02 1,017,000 0 0
LORAL SPACE & COM INC COM 543881106 2,119 101,000 SH   DFND 01,02 101,000 0 0
LUMEN TECHNOLOGIES INC COM 156700106 21,909 2,247,100 SH   DFND 01,02 2,247,100 0 0
MADISON SQUARE GARDEN SPRT CORP CL A 55825T103 1,473 8,000 SH   DFND 01,02 8,000 0 0
MADISON SQUARE GRDN ENTERTNMNT CL A 55826T102 841 8,000 SH   DFND 01,02 8,000 0 0
MASTERCRAFT BOAT HOLDINGS INC COM 57637H103 46,394 1,868,465 SH   DFND 01,02 1,868,465 0 0
MERCK & CO. INC COM 58933Y105 10,053 122,900 SH   DFND 01,02 122,900 0 0
MICRON TECHNOLOGY INC COM 595112103 52,619 700,000 SH   DFND 01,02 700,000 0 0
MIDDLEBY CORP COM 596278101 1,869 14,500 SH   DFND 01,02 14,500 0 0
NORTHWEST PIPE CO COM 667746101 1,217 43,000 SH   DFND 01,02 43,000 0 0
OSISKO GOLD ROYALTIES LTD COM 68827L101 1,108 87,697 SH   DFND 01,02 87,697 0 0
PFIZER INC COM 717081103 11,076 300,900 SH   DFND 01,02 300,900 0 0
RESOLUTE FST PRODS INC COM 76117W109 199,785 30,548,190 SH   DFND 01,02 30,548,190 0 0
RESTAURANT BRANDS INTL INC COM 76131D103 2,042 33,500 SH   DFND 01,02 33,500 0 0
TAIWAN SEMICONDUCTOR MFG LTD SPONSORED ADS 874039100 10,216 93,700 SH   DFND 01,02 93,700 0 0
TIFFANY & CO COM 886547108 2,471 18,800 SH   DFND 01,02 18,800 0 0
TRANSALTA CORP COM 89346D107 1,627 215,000 SH   DFND 01,02 215,000 0 0
U S SILICA HLDS INC COM 90346E103 2,422 345,000 SH   DFND 01,02 345,000 0 0
UNDER ARMOUR INC CL C 904311206 952 64,000 SH   DFND 01,02 64,000 0 0
WW INTERNATIONAL INC COM 98262P101 1,000 41,000 SH   DFND 01,02 41,000 0 0