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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
Clear Channel Outdoor Holdings CL A 18451C109 2,917 288,005 SH   DFND 1, 2 0 0 288,005
Franklin Resources Inc. COM 354613101 107,702 2,196,662 SH   DFND 1, 2 0 2,196,662 0
PPG Industries Inc. COM 693506107 101,457 884,390 SH   DFND 1, 2 0 884,390 0