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        <nameOfIssuer>APPLIED MATERIALS</nameOfIssuer>
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        <nameOfIssuer>COSTCO WHOLESALE</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
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        <value>10734</value>
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        <titleOfClass>COM</titleOfClass>
        <cusip>260003108</cusip>
        <value>503</value>
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            <sshPrnamt>2680</sshPrnamt>
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        <nameOfIssuer>DR HORTON</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>23331A109</cusip>
        <value>10487</value>
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        <titleOfClass>COM</titleOfClass>
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        <titleOfClass>COM</titleOfClass>
        <cusip>G29183103</cusip>
        <value>25634</value>
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            <sshPrnamt>77240</sshPrnamt>
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        <nameOfIssuer>ELI LILLY &amp; CO</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>532457108</cusip>
        <value>7349</value>
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            <sshPrnamt>9520</sshPrnamt>
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        <nameOfIssuer>EMERSON ELECTRIC</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>291011104</cusip>
        <value>10720</value>
        <shrsOrPrnAmt>
            <sshPrnamt>86500</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>86500</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>ENERGY SELECT SECTOR SPDR</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>81369Y506</cusip>
        <value>51</value>
        <shrsOrPrnAmt>
            <sshPrnamt>598</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>598</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>ENERGY TRANSFER LP</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>29273V100</cusip>
        <value>26103</value>
        <shrsOrPrnAmt>
            <sshPrnamt>1332490</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>1332490</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>ENTERPRISE PRODUCTS PARTNERS</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>293792107</cusip>
        <value>20991</value>
        <shrsOrPrnAmt>
            <sshPrnamt>669370</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>669370</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>EOG RESOURCES</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>26875P101</cusip>
        <value>10603</value>
        <shrsOrPrnAmt>
            <sshPrnamt>86500</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>86500</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>EQT CORP</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>26884L109</cusip>
        <value>301</value>
        <shrsOrPrnAmt>
            <sshPrnamt>6520</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>6520</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
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    <infoTable>
        <nameOfIssuer>EXELON</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>30161N101</cusip>
        <value>192</value>
        <shrsOrPrnAmt>
            <sshPrnamt>5110</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>5110</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
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    <infoTable>
        <nameOfIssuer>EXPAND ENERGY CORP</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>165167735</cusip>
        <value>85</value>
        <shrsOrPrnAmt>
            <sshPrnamt>853</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
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        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>853</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>EXXON MOBIL</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>30231G102</cusip>
        <value>15845</value>
        <shrsOrPrnAmt>
            <sshPrnamt>147300</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>147300</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>FEDEX</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>31428X106</cusip>
        <value>16570</value>
        <shrsOrPrnAmt>
            <sshPrnamt>58900</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>58900</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
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    <infoTable>
        <nameOfIssuer>FIDELITY NATIONAL INFORMATION</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>31620M106</cusip>
        <value>11324</value>
        <shrsOrPrnAmt>
            <sshPrnamt>140200</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>140200</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
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    <infoTable>
        <nameOfIssuer>GENERAL ELECTRIC</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>369604301</cusip>
        <value>21649</value>
        <shrsOrPrnAmt>
            <sshPrnamt>129800</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>129800</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>GILEAD SCIENCES</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>375558103</cusip>
        <value>17</value>
        <shrsOrPrnAmt>
            <sshPrnamt>180</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>180</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>GOLDMAN SACHS GROUP</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>38141G104</cusip>
        <value>722</value>
        <shrsOrPrnAmt>
            <sshPrnamt>1260</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>1260</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>GRAN TIERRA ENERGY</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>38500T200</cusip>
        <value>145</value>
        <shrsOrPrnAmt>
            <sshPrnamt>20000</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>20000</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>HOME DEPOT</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>437076102</cusip>
        <value>14887</value>
        <shrsOrPrnAmt>
            <sshPrnamt>38270</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>38270</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>INTL BUSINESS MACHINES</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>459200101</cusip>
        <value>16377</value>
        <shrsOrPrnAmt>
            <sshPrnamt>74500</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>74500</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>INVESCO NASDAQ 100 ETF</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>46138G649</cusip>
        <value>51034</value>
        <shrsOrPrnAmt>
            <sshPrnamt>242500</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>242500</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>ISHARES ESG 1-5 YEAR ETF</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>46435G243</cusip>
        <value>2188</value>
        <shrsOrPrnAmt>
            <sshPrnamt>88579</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>88579</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>ISHARES ESG AWARE USD CORPOR</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>46435G193</cusip>
        <value>808</value>
        <shrsOrPrnAmt>
            <sshPrnamt>35557</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>35557</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>ISHARES GNMA BOND ETF</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>46429B333</cusip>
        <value>195</value>
        <shrsOrPrnAmt>
            <sshPrnamt>4553</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>4553</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>ISHARES I-05Y INV GRADE CORP ETF</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>464288646</cusip>
        <value>12404</value>
        <shrsOrPrnAmt>
            <sshPrnamt>239932</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>239932</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>ISHARES IBOXX INVESTMENT ETF</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>464287242</cusip>
        <value>6357</value>
        <shrsOrPrnAmt>
            <sshPrnamt>59502</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>59502</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>ISHARES S&amp;P 500 GROWTH ETF</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>464287309</cusip>
        <value>1045</value>
        <shrsOrPrnAmt>
            <sshPrnamt>10296</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>10296</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>ISHARES S&amp;P MIDCAP 400 ETF</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>464287507</cusip>
        <value>4178</value>
        <shrsOrPrnAmt>
            <sshPrnamt>67053</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>67053</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>ITT</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>45073V108</cusip>
        <value>22018</value>
        <shrsOrPrnAmt>
            <sshPrnamt>154100</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>154100</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>JOHNSON &amp; JOHNSON</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>478160104</cusip>
        <value>5351</value>
        <shrsOrPrnAmt>
            <sshPrnamt>37000</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>37000</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>JPMORGAN CHASE</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>46625H100</cusip>
        <value>35393</value>
        <shrsOrPrnAmt>
            <sshPrnamt>147650</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>147650</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>L3HARRIS TECHNOLOGIES</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>502431109</cusip>
        <value>7654</value>
        <shrsOrPrnAmt>
            <sshPrnamt>36400</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>36400</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>LINDE PLC</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>G54950103</cusip>
        <value>13984</value>
        <shrsOrPrnAmt>
            <sshPrnamt>33400</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>33400</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>LOCKHEED MARTIN</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>539830109</cusip>
        <value>2002</value>
        <shrsOrPrnAmt>
            <sshPrnamt>4120</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>4120</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>LYONDELLBASELL INDUSTRIES-CL A</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>N53745100</cusip>
        <value>67</value>
        <shrsOrPrnAmt>
            <sshPrnamt>900</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>900</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>MAGELLAN MIDSTREAM PARTNERS</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>559080106</cusip>
        <value>1076</value>
        <shrsOrPrnAmt>
            <sshPrnamt>15600</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>15600</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>MASTERCARD</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>57636Q104</cusip>
        <value>295</value>
        <shrsOrPrnAmt>
            <sshPrnamt>560</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>560</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>MCDONALD'S</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>580135101</cusip>
        <value>11770</value>
        <shrsOrPrnAmt>
            <sshPrnamt>40600</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>40600</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>MCKESSON</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>58155Q103</cusip>
        <value>17496</value>
        <shrsOrPrnAmt>
            <sshPrnamt>30700</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>30700</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>MERCK &amp; CO</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>58933Y105</cusip>
        <value>11097</value>
        <shrsOrPrnAmt>
            <sshPrnamt>111550</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>111550</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>META PLATFORMS INC</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>30303M102</cusip>
        <value>7969</value>
        <shrsOrPrnAmt>
            <sshPrnamt>13610</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>13610</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>METLIFE</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>59156R108</cusip>
        <value>14116</value>
        <shrsOrPrnAmt>
            <sshPrnamt>172400</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>172400</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>MICROCHIP TECHNOLOGY</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>595017104</cusip>
        <value>275</value>
        <shrsOrPrnAmt>
            <sshPrnamt>4800</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>4800</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>MICROSOFT</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>594918104</cusip>
        <value>33227</value>
        <shrsOrPrnAmt>
            <sshPrnamt>78830</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>78830</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
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    <infoTable>
        <nameOfIssuer>MONDELEZ INTL</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>609207105</cusip>
        <value>273</value>
        <shrsOrPrnAmt>
            <sshPrnamt>4570</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>4570</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>MORGAN STANLEY</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>617446448</cusip>
        <value>23070</value>
        <shrsOrPrnAmt>
            <sshPrnamt>183500</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>183500</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>NATIONWIDE HEALTH PP</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>638620104</cusip>
        <value>165</value>
        <shrsOrPrnAmt>
            <sshPrnamt>3900</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>3900</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>NETFLIX</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>64110L106</cusip>
        <value>1702</value>
        <shrsOrPrnAmt>
            <sshPrnamt>1910</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>1910</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>NEXTERA ENERGY</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>65339F101</cusip>
        <value>26196</value>
        <shrsOrPrnAmt>
            <sshPrnamt>365400</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>365400</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>NVIDIA</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>67066G104</cusip>
        <value>2417</value>
        <shrsOrPrnAmt>
            <sshPrnamt>18000</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>18000</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>ORACLE</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>68389X105</cusip>
        <value>14279</value>
        <shrsOrPrnAmt>
            <sshPrnamt>85690</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>85690</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>OVINTIV INC</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>69047Q102</cusip>
        <value>122</value>
        <shrsOrPrnAmt>
            <sshPrnamt>3000</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>3000</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>PEPSICO</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>713448108</cusip>
        <value>1718</value>
        <shrsOrPrnAmt>
            <sshPrnamt>11300</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>11300</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>PETROLEO BRASILEIRO SA</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>71654V408</cusip>
        <value>131</value>
        <shrsOrPrnAmt>
            <sshPrnamt>10210</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>10210</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>PFIZER</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>717081103</cusip>
        <value>655</value>
        <shrsOrPrnAmt>
            <sshPrnamt>24680</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>24680</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>PHILLIPS 66</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>718546104</cusip>
        <value>456</value>
        <shrsOrPrnAmt>
            <sshPrnamt>4000</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>4000</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>PNC FINANCIAL</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>693475105</cusip>
        <value>16007</value>
        <shrsOrPrnAmt>
            <sshPrnamt>83000</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>83000</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>PROCTER &amp; GAMBLE</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>742718109</cusip>
        <value>11933</value>
        <shrsOrPrnAmt>
            <sshPrnamt>71180</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>71180</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>PROLOGIS</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>74340W103</cusip>
        <value>8519</value>
        <shrsOrPrnAmt>
            <sshPrnamt>80600</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>80600</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>PUBLIC STORAGE</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>74460D109</cusip>
        <value>222</value>
        <shrsOrPrnAmt>
            <sshPrnamt>740</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>740</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>QUALCOMM</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>747525103</cusip>
        <value>661</value>
        <shrsOrPrnAmt>
            <sshPrnamt>4300</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>4300</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>REPUBLIC SERVICES-CL A</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>760759100</cusip>
        <value>362</value>
        <shrsOrPrnAmt>
            <sshPrnamt>1800</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>1800</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>ROSS STORES INC</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>778296103</cusip>
        <value>18122</value>
        <shrsOrPrnAmt>
            <sshPrnamt>119800</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>119800</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>S&amp;P GLOBAL INC</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>78409V104</cusip>
        <value>13248</value>
        <shrsOrPrnAmt>
            <sshPrnamt>26600</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>26600</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>SALESFORCE.COM</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>79466L302</cusip>
        <value>5851</value>
        <shrsOrPrnAmt>
            <sshPrnamt>17500</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>17500</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>SIMON PROPERTY GROUP</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>828806109</cusip>
        <value>15835</value>
        <shrsOrPrnAmt>
            <sshPrnamt>91950</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>91950</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>SPDR PORFOLIO S&amp;P 500 ETF</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>78464A854</cusip>
        <value>48</value>
        <shrsOrPrnAmt>
            <sshPrnamt>700</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>700</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>SS&amp;C TECHNOLOGIES HOLDINGS</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>78467J100</cusip>
        <value>7503</value>
        <shrsOrPrnAmt>
            <sshPrnamt>99000</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>99000</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>STRYKER</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>863667101</cusip>
        <value>17318</value>
        <shrsOrPrnAmt>
            <sshPrnamt>48100</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>48100</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>TEXAS INSTRUMENTS</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>882508104</cusip>
        <value>431</value>
        <shrsOrPrnAmt>
            <sshPrnamt>2300</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>2300</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>T-MOBILE US INC</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>872590104</cusip>
        <value>16687</value>
        <shrsOrPrnAmt>
            <sshPrnamt>75600</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>75600</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>TRACTOR SUPPLY COMPANY</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>892356106</cusip>
        <value>7932</value>
        <shrsOrPrnAmt>
            <sshPrnamt>149500</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>149500</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>TRUIST FINANCIAL CORPORATION</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>89832Q109</cusip>
        <value>16558</value>
        <shrsOrPrnAmt>
            <sshPrnamt>381700</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>381700</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>UNION PACIFIC</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>907818108</cusip>
        <value>7867</value>
        <shrsOrPrnAmt>
            <sshPrnamt>34500</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>34500</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>UNITED PARCEL SERVICE</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>911312106</cusip>
        <value>177</value>
        <shrsOrPrnAmt>
            <sshPrnamt>1400</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>1400</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>UNITEDHEALTH GROUP</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>91324P102</cusip>
        <value>14356</value>
        <shrsOrPrnAmt>
            <sshPrnamt>28380</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>28380</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>VALLEY NATIONAL BANCORP</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>919794107</cusip>
        <value>4</value>
        <shrsOrPrnAmt>
            <sshPrnamt>483</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>483</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>VERIZON COMMUNICATIONS</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>92343V104</cusip>
        <value>11141</value>
        <shrsOrPrnAmt>
            <sshPrnamt>278590</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>278590</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>VERTIV HOLDINGS</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>92537N108</cusip>
        <value>7589</value>
        <shrsOrPrnAmt>
            <sshPrnamt>66800</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>66800</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>VICI PROPERTIES</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>925652109</cusip>
        <value>186</value>
        <shrsOrPrnAmt>
            <sshPrnamt>6360</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>6360</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>VISA INC-CL A</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>92826C839</cusip>
        <value>17287</value>
        <shrsOrPrnAmt>
            <sshPrnamt>54700</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>54700</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>VISTRA CORP</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>92840M102</cusip>
        <value>152</value>
        <shrsOrPrnAmt>
            <sshPrnamt>1100</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>1100</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>WAL-MART STORES</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>931142103</cusip>
        <value>21982</value>
        <shrsOrPrnAmt>
            <sshPrnamt>243300</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
            <Sole>243300</Sole>
            <Shared>0</Shared>
            <None>0</None>
        </votingAuthority>
    </infoTable>
    <infoTable>
        <nameOfIssuer>WALT DISNEY CO</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>254687106</cusip>
        <value>13132</value>
        <shrsOrPrnAmt>
            <sshPrnamt>117930</sshPrnamt>
            <sshPrnamtType>SH</sshPrnamtType>
        </shrsOrPrnAmt>
        <investmentDiscretion>SOLE</investmentDiscretion>
        <votingAuthority>
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