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 FIGI (to the nearest dollar) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
APOLLO GLOBAL MGMT LLC COM 03769M106   90,284,000 802,883 SH   DFND 1 0 802,883 0
ARCH RESOURCES CL A 03940R107   14,359,000 89,305 SH   DFND 1 0 89,305 0
BANK AMERICA CORP COM 060505104   73,992,000 1,951,273 SH   DFND 1 0 1,951,273 0
DISNEY WALT CO COM 254687106   8,302,000 67,850 SH   DFND 1 0 67,850 0
FREEPORT-MCMORAN INC CL B 35671D857   53,210,000 1,131,638 SH   DFND 1 0 1,131,638 0
JPMORGAN CHASE & CO COM 46625H100   28,867,000 144,120 SH   DFND 1 0 144,120 0
NEWMONT CORP COM 651639106   30,352,000 846,864 SH   DFND 1 0 846,864 0
ROYALTY PHARMA PLC SHS CLASS A G7709Q104   29,150,000 959,827 SH   DFND 1 0 959,827 0
SCHWAB CHARLES CORP COM 808513105   29,238,000 404,178 SH   DFND 1 0 404,178 0
TECK RESOURCES LTD CL B 878742204   101,111,000 2,208,624 SH   DFND 1 0 2,208,624 0
TRUIST FINL CORP COM 89832Q109   25,952,000 665,781 SH   DFND 1 0 665,781 0
WELLS FARGO CO NEW COM 949746101   53,370,000 920,813 SH   DFND 1 0 920,813 0
WYNN RESORTS LTD COM 983134107   70,166,000 686,356 SH   DFND 1 0 686,356 0
GE HealthCare Technologies Inc COMMON STOCK 36266G107   52,676,345 579,434 SH   DFND   579,434 0 0
Meta Platforms Inc CL A 30303M102   48,996,965 100,904 SH   DFND   100,904 0 0
AMAZON COM INC COM 023135106   47,696,441 264,422 SH   DFND   264,422 0 0
TECK RESOURCES LTD CL B 878742204   43,715,506 954,904 SH   DFND   954,904 0 0
DISNEY WALT CO COM 254687906   34,417,544 281,281 SH   DFND   281,281 0 0
FREEPORT-MCMORAN INC CL B 35671D857   33,476,736 711,968 SH   DFND   711,968 0 0
NexGen Energy Ltd COM 65340P106   21,305,325 2,741,998 SH   DFND   2,741,998 0 0
IAC Inc COM NEW 44891N208   13,154,978 246,625 SH   DFND   246,625 0 0
Opthea Ltd (ADR) SPONSORED ADS 68386J208   11,949,427 2,907,403 SH   DFND   2,907,403 0 0
BILIBILI INC (ADR) SPONS ADS REP Z 090040106   10,039,994 896,428 SH   DFND   896,428 0 0
ALPHABET INC CAP STK CL C 02079K107   6,897,378 45,300 SH   DFND   45,300 0 0
BARRICK GOLD CORP COM 067901108   6,481,264 389,499 SH   DFND   389,499 0 0
AGNICO EAGLE MIN COM 008474108   6,343,360 106,343 SH   DFND   106,343 0 0
Iris Energy Ltd ORDINARY SHARES Q4982L109   5,700,851 1,055,713 SH   DFND   1,055,713 0 0
Metals Acquisition Ltd ORD SHS G60409110   5,079,297 395,276 SH   DFND   395,276 0 0
Arch Resources Inc CL A 03940R107   4,992,208 31,048 SH   DFND   31,048 0 0
Newmont Corp COM 651639106   4,934,882 137,692 SH   DFND   137,692 0 0
iShares Bitcoin Trust SHS 46438F101   4,840,212 119,600 SH   DFND   119,600 0 0
THERMO FISHER SCIENTIFIC INC COM 883556102   4,546,225 7,822 SH   DFND   7,822 0 0
UNITEDHEALTH GROUP INC COM 91324P102   2,617,953 5,292 SH   DFND   5,292 0 0
Coinbase Global Inc COM CL A 19260Q107   2,412,592 9,100 SH   DFND   9,100 0 0
Eli Lilly & Co COM 532457108   1,955,792 2,514 SH   DFND   2,514 0 0
MP Materials Corp COM CL A 553368101   1,767,337 123,590 SH   DFND   123,590 0 0
NVIDIA Corp COM 67066G104   1,515,271 1,677 SH   DFND   1,677 0 0
NU HLDGS LTD ORD SHS CL A G6683N103   1,193,000 100,000 SH   DFND   100,000 0 0
Albemarle Corp COM 012653101   1,113,994 8,456 SH   DFND   8,456 0 0
Dave Inc CLASS A COM NEW 23834J201   1,030,153 27,737 SH   DFND   27,737 0 0
Airbnb Inc COM CL A 009066101   775,312 4,700 SH   DFND   4,700 0 0
UBER TECHNOLOGIE COM 90353T100   615,920 8,000 SH   DFND   8,000 0 0
LITHIUM AMERICAS ARGENTINA C COM SHS 53681K100   600,182 111,351 SH   DFND   111,351 0 0
MESOBLAST LT-ADR SPONS ADR 590717401   587,388 117,243 SH   DFND   117,243 0 0
PEABODY ENERGY CORP COM 704551100   554,050 22,838 SH   DFND   22,838 0 0
SIGMA LITHIUM CORPORATION COM 826599102   524,362 40,460 SH   DFND   40,460 0 0
MicroStrategy Inc CL A NEW 594972408   426,140 250 SH   DFND   250 0 0
GigaCloud Technology Inc CLASS A ORD G38644103   400,800 15,000 SH   DFND   15,000 0 0
AppLovin Corp COM CL A 03831W108   346,100 5,000 SH   DFND   5,000 0 0
Cleanspark Inc COM NEW 18452B209   318,150 15,000 SH   DFND   15,000 0 0
Oscar Health Inc CL A 687793109   227,511 15,300 SH   DFND   15,300 0 0
Marathon Digital Holdings Inc COM 565788106   225,800 10,000 SH   DFND   10,000 0 0
GOLD ROYALTY CORP COMMON SHARES 38071H106   77,302 41,118 SH   DFND   41,118 0 0