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
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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
CSX CORP COM 126408103 29,060 1,000,000 SH   SOLE   1,000,000 0 0
DEERE & CO COM 244199105 14,974 50,000 SH   SOLE   50,000 0 0
FRANCO NEV CORP COM 351858105 26,316 200,000 SH   SOLE   200,000 0 0
HF SINCLAIR CORPORATION COM 403949100 15,806 350,000 SH   SOLE   350,000 0 0
INTUIT COM 461202103 11,563 30,000 SH   SOLE   30,000 0 0
LAM RESEARCH CORP COM 512807108 10,654 25,000 SH   SOLE   25,000 0 0
MASTERCARD INCORPORATED CL A 57636Q104 31,548 100,000 SH   SOLE   100,000 0 0
MICROSOFT CORP COM 594918104 38,525 150,000 SH   SOLE   150,000 0 0
MOSAIC CO NEW COM 61945C103 18,892 400,000 SH   SOLE   400,000 0 0
PHILLIPS 66 COM 718546104 16,398 200,000 SH   SOLE   200,000 0 0
SCHNITZER STEEL INDS INC CL A 806882106 9,852 300,000 SH   SOLE   300,000 0 0
SERVICENOW INC COM 81762P102 14,266 30,000 SH   SOLE   30,000 0 0
SUNCOR ENERGY ORD COM 883556102 35,070 1,000,000 SH   SOLE   1,000,000 0 0
TURQUOISE HILL RES LTD COM 900435207 4,017 150,000 SH   SOLE   150,000 0 0
UNITED STATES STL CORP NEW COM 912909108 17,910 1,000,000 SH   SOLE   1,000,000 0 0
WESTLAKE CORPORATION COM 960413102 9,802 100,000 SH   SOLE   100,000 0 0