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
ACTIVISION BLIZZARD INC COM 00507V109 6,128 78,700 SH   DFND 01,02 78,700 0 0
ALIBABA GROUP HOLDING LTD SPONSORED ADS 01609W102 33,288 292,800 SH   DFND 01,02 292,800 0 0
ALPHABET INC CAP STK CL A 02079K305 36,680 16,831 SH   DFND 01,02 16,831 0 0
ATLAS CORP SHARES Y0436Q109 1,339,619 125,081,134 SH   DFND 01,02 125,081,134 0 0
AUTOHOME INC SP ADS RP CL A 05278C107 3,659 93,000 SH   DFND 01,02 93,000 0 0
BANK OF AMERICA CORP COM 060505104 80,057 2,569,229 SH   DFND 01,02 2,569,229 0 0
BANK OF NOVA SCOTIA COM 064149107 14,590 247,100 SH   DFND 01,02 247,100 0 0
BERKSHIRE HATHAWAY INC CL A 084670108 410 1 SH   DFND 01,02 1 0 0
BLACKBERRY LIMITED COM 09228F103 251,846 46,724,700 SH   DFND 01,02 46,724,700 0 0
BLOCK H & R INC COM 093671105 39,590 1,120,894 SH   DFND 01,02 1,120,894 0 0
BROOKFIELD ASSET MGMT INC CL A LTD VT SH 112585104 2,224 50,000 SH   DFND 01,02 50,000 0 0
BROOKFIELD ASSET MGMT REINS CL A EXCH LT VTG G16169107 15 343 SH   DFND 01,02 343 0 0
BRP INC COM SUN VTG 05577W200 1,086 17,700 SH   DFND 01,02 17,700 0 0
CANADIAN PAC RY LTD COM 13645T100 1,045 15,000 SH   DFND 01,02 15,000 0 0
CHEVRON CORP COM 166764100 45,461 314,000 SH   DFND 01,02 314,000 0 0
CITRIX SYS INC COM 177376100 1,379 14,200 SH   DFND 01,02 14,200 0 0
COLLIERS INTL GROUP INC SUB VTG SHS 194693107 2,733 25,000 SH   DFND 01,02 25,000 0 0
CRESCENT CAP BDC INC COM 225655109 34,431 2,229,976 SH   DFND 01,02 2,229,976 0 0
CVS HEALTH CORP COM 126650100 1,390 15,000 SH   DFND 01,02 15,000 0 0
DARLING INGREDIENTS INC COM 237266101 969 16,200 SH   DFND 01,02 16,200 0 0
DELEK US HLDGS INC COM 24665A103 826 32,000 SH   DFND 01,02 32,000 0 0
DENNYS CORP COM 24869P104 1,085 125,000 SH   DFND 01,02 125,000 0 0
DEVON ENERGY CORP COM 25179M103 640 11,600 SH   DFND 01,02 11,600 0 0
DINE BRANDS GLOBAL INC COM 254423106 1,301 20,000 SH   DFND 01,02 20,000 0 0
EOG RES INC COM 26875P101 442 4,000 SH   DFND 01,02 4,000 0 0
FIDELITY NATIONAL FINANCIAL FNF GROUP COM 31620R303 1,035 28,000 SH   DFND 01,02 28,000 0 0
FIRST HORIZON CORPORATION COM 320517105 1,407 64,300 SH   DFND 01,02 64,300 0 0
FRANKLIN RESOURCES INC COM 354613101 23,320 1,000,000 SH   DFND 01,02 1,000,000 0 0
GARRETT MOTION INC COM 366505105 847 109,900 SH   DFND 01,02 109,900 0 0
GARRETT MOTION INC PFD CONV SER A 366505204 1,304 159,239 SH   DFND 01,02 159,239 0 0
GENERAL ELECTRIC CO COM NEW 369604301 11,077 173,862 SH   DFND 01,02 173,862 0 0
GENERAL MTRS CO COM 37045V100 11,948 375,965 SH   DFND 01,02 375,965 0 0
GRANITE REAL ESTATE INVT TR UNIT 99/99/9999 387437114 1,222 20,000 SH   DFND 01,02 20,000 0 0
HELMERICH & PAYNE INC COM 423452101 23,886 555,105 SH   DFND 01,02 555,105 0 0
IMAX CORP COM 45245E109 2,111 125,000 SH   DFND 01,02 125,000 0 0
INDEPENDENCE CONTRACT DRILLING COM 453415606 1,214 390,294 SH   DFND 01,02 390,294 0 0
INTEL CORP COM 458140100 23,306 622,500 SH   DFND 01,02 622,500 0 0
INTERNATIONAL SEAWAYS INC COM Y41053102 12,147 572,954 SH   DFND 01,02 572,954 0 0
IROBOT CORP COM 462726100 551 15,000 SH   DFND 01,02 15,000 0 0
JACOBS ENGR GROUP INC COM 469814107 1,398 11,000 SH   DFND 01,02 11,000 0 0
JOHNSON & JOHNSON COM 478160104 13,055 73,400 SH   DFND 01,02 73,400 0 0
KENNEDY-WILSON HOLDINGS INC COM 489398107 252,052 13,322,009 SH   DFND 01,02 13,322,009 0 0
KKR & CO INC COM 48251W104 1,852 40,000 SH   DFND 01,02 40,000 0 0
LIBERTY BROADBAND CORP COM SER C 530307305 738 6,380 SH   DFND 01,02 6,380 0 0
LIBERTY TRIPADVISOR HLDGS INC COM SER A 531465102 1,248 1,650,000 SH   DFND 01,02 1,650,000 0 0
LOYALTY VENTURES INC COMMON STOCK 54911Q107 214 60,000 SH   DFND 01,02 60,000 0 0
MAGNACHIP SEMICONDUCTOR CORP COM 55933J203 1,453 100,000 SH   DFND 01,02 100,000 0 0
MASTERCRAFT BOAT HLDGS INC COM 57637H103 210 10,000 SH   DFND 01,02 10,000 0 0
MERCK & CO INC COM 58933Y105 15,796 172,900 SH   DFND 01,02 172,900 0 0
META PLATFORMS INC CL A 30303M102 1,129 7,000 SH   DFND 01,02 7,000 0 0
MGM RESORTS INTERNATIONAL COM 552953101 854 29,500 SH   DFND 01,02 29,500 0 0
MICRON TECHNOLOGY INC COM 595112103 38,387 693,400 SH   DFND 01,02 693,400 0 0
MIDDLEBY CORP COM 596278101 1,816 14,500 SH   DFND 01,02 14,500 0 0
NIELSEN HLDGS PLC SHS EUR G6518L108 625 26,900 SH   DFND 01,02 26,900 0 0
OCCIDENTAL PETE CORP COM 674599105 52,215 886,500 SH   DFND 01,02 886,500 0 0
OSISKO GOLD ROYALTIES LTD COM 68827L101 1,609 160,000 SH   DFND 01,02 160,000 0 0
PFIZER INC COM 717081103 21,047 400,900 SH   DFND 01,02 400,900 0 0
PIONEER NAT RES CO COM 723787107 446 2,000 SH   DFND 01,02 2,000 0 0
RESOLUTE FST PRODS INC COM 76117W109 389,795 30,548,190 SH   DFND 01,02 30,548,190 0 0
RESTAURANT BRANDS INTL INC COM 76131D103 2,171 43,500 SH   DFND 01,02 43,500 0 0
TAIWAN SEMICONDUCTOR MFG LTD SPONSORED ADS 874039100 7,667 93,700 SH   DFND 01,02 93,700 0 0
TELESAT CORP CL A & CL B SHS 879512309 831 76,000 SH   DFND 01,02 76,000 0 0
TENCENT MUSIC ENTMT GROUP SPON ADS 88034P109 2,053 409,000 SH   DFND 01,02 409,000 0 0
TENNECO INC CL A VTG COM STK 880349105 6,428 375,000 SH   DFND 01,02 375,000 0 0
TFI INTL INC COM 87241L109 1,875 23,600 SH   DFND 01,02 23,600 0 0
UNDER ARMOUR INC CL C 904311206 1,736 229,000 SH   DFND 01,02 229,000 0 0
U S SILICA HLDGS INC COM 90346E103 1,483 130,000 SH   DFND 01,02 130,000 0 0
VANGUARD INDEX FDS S&P 500 ETF SHS 922908363 694 2,000 SH   DFND 01,02 2,000 0 0
VIEMED HEALTHCARE INC COM 92663R105 805 150,000 SH   DFND 01,02 150,000 0 0
XERIS BIOPHARMA HOLDINGS INC COM 98422E103 232 151,395 SH   DFND 01,02 151,395 0 0