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 19,471 13,731 SH   DFND 01,02 13,731 0 0
ARGAN INC COM 04010E109 1,999 42,200 SH   DFND 01,02 42,200 0 0
ATLAS CORP SHS Y0436Q109 764,361 100,573,798 SH   DFND 01,02 100,573,798 0 0
BANK OF NOVA SCOTIA COM 064149107 10,156 247,100 SH   DFND 01,02 247,100 0 0
BERKSHIRE HATHAWAY INC CL A 084670108 268 1 SH   DFND 01,02 1 0 0
BLACKBERRY LTD COM 09228F103 227,511 46,724,700 SH   DFND 01,02 46,724,700 0 0
BOOKING HOLDINGS INC COM 09857L108 10,350 6,500 SH   DFND 01,02 6,500 0 0
CENTRAL EUROPEAN MEDIA ENTRPR CL A NEW G20045202 817 230,860 SH   DFND 01,02 230,860 0 0
CENTURYLINK INC COM 156700106 23,662 2,359,100 SH   DFND 01,02 2,359,100 0 0
CHEVRON CORP COM 166764100 13,900 155,800 SH   DFND 01,02 155,800 0 0
CIRRUS LOGIC INC COM 172755100 395 6,400 SH   DFND 01,02 6,400 0 0
COLLIERS INTL GROUP INC SUB VTG SHS 194693107 1,424 25,000 SH   DFND 01,02 25,000 0 0
CRESCENT CAP BDC INC COM 225655109 47,985 3,796,246 SH   DFND 01,02 3,796,246 0 0
CULP INC COM 230215105 672 78,000 SH   DFND 01,02 78,000 0 0
CVS HEALTH CORP COM 126650100 1,720 26,500 SH   DFND 01,02 26,500 0 0
DARLING INGREDIENTS INC COM 237266101 517 21,000 SH   DFND 01,02 21,000 0 0
DELEK US HLDGS INC COM 24665A103 696 40,000 SH   DFND 01,02 40,000 0 0
DIAMOND S SHIPPING INC COM Y20676105 8,267 1,034,681 SH   DFND 01,02 1,034,681 0 0
DINE BRANDS GLOBAL INC COM 254423106 1,073 25,500 SH   DFND 01,02 25,500 0 0
EL PASO ELEC CO COM NEW 283677854 1,121 16,725 SH   DFND 01,02 16,725 0 0
FIDELITY NATIONAL FINANCIAL FNF GROUP COM 31620R303 613 20,000 SH   DFND 01,02 20,000 0 0
FITBIT INC CL A 33812L102 13,868 2,150,000 SH   DFND 01,02 2,150,000 0 0
FLIR SYS INC COM 302445101 770 19,000 SH   DFND 01,02 19,000 0 0
FRANKLIN RESOURCES INC COM 354613101 20,970 1,000,000 SH   DFND 01,02 1,000,000 0 0
FREIGHTCAR AMER INC COM 357023100 558 450,000 SH   DFND 01,02 450,000 0 0
GARRETT MOTION INC COM 366505105 831 150,000 SH   DFND 01,02 150,000 0 0
GCI LIBERTY INC COM CLASS A 36164V305 782 11,000 SH   DFND 01,02 11,000 0 0
GENERAL ELECTRIC CO COM 369604103 9,500 1,390,900 SH   DFND 01,02 1,390,900 0 0
GENERAL MTRS CO COM 37045V100 9,512 375,965 SH   DFND 01,02 375,965 0 0
GILDAN ACTIVEWEAR INC COM 375916103 11,300 730,000 SH   DFND 01,02 730,000 0 0
GRANITE REAL ESTATE INVT TR UNIT 99/99/9999 387437114 692 13,500 SH   DFND 01,02 13,500 0 0
HELMERICH & PAYNE INC COM 423452101 4,415 226,400 SH   DFND 01,02 226,400 0 0
IROBOT CORP COM 462726100 1,258 15,000 SH   DFND 01,02 15,000 0 0
JACOBS ENGR GROUP INC COM 469814107 932 11,000 SH   DFND 01,02 11,000 0 0
JOHNSON & JOHNSON COM 478160104 10,302 73,400 SH   DFND 01,02 73,400 0 0
KENNEDY-WILSON HOLDINGS INC COM 489398107 202,628 13,322,009 SH   DFND 01,02 13,322,009 0 0
KKR & CO INC COM 48251W104 1,698 55,000 SH   DFND 01,02 55,000 0 0
KULICKE & SOFFA INDS INC COM 501242101 1,625 78,000 SH   DFND 01,02 78,000 0 0
LHC GROUP INC COM 50187A107 505 2,900 SH   DFND 01,02 2,900 0 0
LIBERTY TRIPADVISOR HLDGS INC COM SER A 531465102 750 354,000 SH   DFND 01,02 354,000 0 0
LORAL SPACE & COMMUNICATIONS INC COM 543881106 1,501 77,000 SH   DFND 01,02 77,000 0 0
MADISON SQUARE GRDN ENTERTNMNT CL A 55826T102 600 8,000 SH   DFND 01,02 8,000 0 0
MADISON SQUARE GRDN SPRT COR CL A 55825T103 1,175 8,000 SH   DFND 01,02 8,000 0 0
MASTERCRAFT BOAT HLDGS INC COM 57637H103 35,520 1,868,465 SH   DFND 01,02 1,868,465 0 0
MICRON TECHNOLOGY INC COM 595112103 36,064 700,000 SH   DFND 01,02 700,000 0 0
MIDDLEBY CORP COM 596278101 1,145 14,500 SH   DFND 01,02 14,500 0 0
NETEASE INC SPONSORED ADS 64110W102 6,655 15,500 SH   DFND 01,02 15,500 0 0
NORBORD INC COM NEW 65548P403 677 30,000 SH   DFND 01,02 30,000 0 0
NORTHWEST PIPE CO COM 667746101 1,380 55,000 SH   DFND 01,02 55,000 0 0
OSISKO GOLD ROYALTIES LTD COM 68827L101 863 87,385 SH   DFND 01,02 87,385 0 0
PACIFIC BIOSCIENCES CALIF INC COM 69404D108 550 160,000 SH   DFND 01,02 160,000 0 0
PENN NATL GAMING INC COM 707569109 611 20,000 SH   DFND 01,02 20,000 0 0
RESOLUTE FST PRODS INC COM 76117W109 64,151 30,548,190 SH   DFND 01,02 30,548,190 0 0
RESTAURANT BRANDS INTL INC COM 76131D103 1,817 33,500 SH   DFND 01,02 33,500 0 0
SAFETY INS GROUP INC COM 78648T100 503 6,600 SH   DFND 01,02 6,600 0 0
TAIWAN SEMICONDUCTOR MFG LTD SPONSORED ADS 874039100 5,659 99,700 SH   DFND 01,02 99,700 0 0
TIFFANY & CO COM 886547108 1,768 14,500 SH   DFND 01,02 14,500 0 0
TRANSALTA CORP COM 89346D107 1,263 215,000 SH   DFND 01,02 215,000 0 0
U S SILICA HLDGS INC COM 90346E103 1,242 345,000 SH   DFND 01,02 345,000 0 0