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
AIR PRODS & CHEMS INC COM 009158106 32,018 234,000 SH   DFND 2,3,6 234,000 0 0
AIR PRODS & CHEMS INC COM 009158106 445 3,250 SH   DFND 3,6 3,250 0 0
AIR PRODS & CHEMS INC COM 009158106 8,483 62,000 SH   DFND 3,4,6 62,000 0 0
AIR PRODS & CHEMS INC COM 009158106 62,121 454,000 SH   DFND 5,6 454,000 0 0
APPLE INC COM 037833100 50,340 401,354 SH   DFND 2,3,6 401,354 0 0
APPLE INC COM 037833100 1,129 9,000 SH   DFND 3,6 9,000 0 0
APPLE INC COM 037833100 17,425 138,928 SH   DFND 3,4,6 138,928 0 0
APPLE INC COM 037833100 131,943 1,051,968 SH   DFND 5,6 1,051,968 0 0
ARES CAP CORP COM 04010L103 2,945 178,907 SH   DFND 3,6 178,907 0 0
ARES COML REAL ESTATE CORP COM 04013V108 1,425 125,115 SH   DFND 3,6 125,115 0 0
ARES DYNAMIC CR ALLOCATION F COM 04014F102 136 8,865 SH   DFND 3,6 8,865 0 0
BOEING CO COM 097023105 39,534 284,990 SH   DFND 2,3,6 284,990 0 0
BOEING CO COM 097023105 527 3,800 SH   DFND 3,6 3,800 0 0
BOEING CO COM 097023105 10,104 72,838 SH   DFND 3,4,6 72,838 0 0
BOEING CO COM 097023105 71,211 513,342 SH   DFND 5,6 513,342 0 0
CSX CORP COM 126408103 163,250 5,000,000 SH   DFND 3,6 5,000,000 0 0
CVS HEALTH CORP COM 126650100 115,366 1,099,979 SH   DFND 2,3,6 1,099,979 0 0
CVS HEALTH CORP COM 126650100 336 3,205 SH   DFND 3,6 3,205 0 0
CVS HEALTH CORP COM 126650100 7,441 70,948 SH   DFND 3,4,6 70,948 0 0
CVS HEALTH CORP COM 126650100 81,373 775,868 SH   DFND 5,6 775,868 0 0
DELTA AIR LINES INC DEL COM NEW 247361702 13,182 320,895 SH   DFND 0,6 320,895 0 0
DELTA AIR LINES INC DEL COM NEW 247361702 739 18,000 SH   DFND 2,3,6 18,000 0 0
DELTA AIR LINES INC DEL COM NEW 247361702 42,691 1,039,205 SH   DFND 3,6 1,039,205 0 0
DELTA AIR LINES INC DEL COM NEW 247361702 160 3,900 SH   DFND 3,4,6 3,900 0 0
DELTA AIR LINES INC DEL COM NEW 247361702 1,356 33,000 SH   DFND 5,6 33,000 0 0
DISNEY WALT CO COM DISNEY 254687106 3,424 30,000 SH   DFND 0,6 30,000 0 0
DISNEY WALT CO COM DISNEY 254687106 67,913 595,000 SH   DFND 2,3,6 595,000 0 0
DISNEY WALT CO COM DISNEY 254687106 1,438 12,600 SH   DFND 3,6 12,600 0 0
DISNEY WALT CO COM DISNEY 254687106 27,668 242,400 SH   DFND 3,4,6 242,400 0 0
DISNEY WALT CO COM DISNEY 254687106 119,847 1,050,000 SH   DFND 5,6 1,050,000 0 0
EXXON MOBIL CORP COM 30231G102 17,827 214,261 SH   DFND 2,3,6 214,261 0 0
EXXON MOBIL CORP COM 30231G102 235 2,824 SH   DFND 3,6 2,824 0 0
EXXON MOBIL CORP COM 30231G102 3,992 47,980 SH   DFND 3,4,6 47,980 0 0
EXXON MOBIL CORP COM 30231G102 27,867 334,935 SH   DFND 5,6 334,935 0 0
GOOGLE INC CL A 38259P508 43,068 79,749 SH   DFND 0,6 79,749 0 0
GOOGLE INC CL A 38259P508 52,564 97,334 SH   DFND 2,3,6 97,334 0 0
GOOGLE INC CL A 38259P508 2,120 3,926 SH   DFND 3,6 3,926 0 0
GOOGLE INC CL A 38259P508 12,168 22,532 SH   DFND 3,4,6 22,532 0 0
GOOGLE INC CL A 38259P508 91,245 168,959 SH   DFND 5,6 168,959 0 0
JPMORGAN CHASE & CO COM 46625H100 30,492 450,000 SH   DFND 0,6 450,000 0 0
JPMORGAN CHASE & CO COM 46625H100 62,703 925,370 SH   DFND 2,3,6 925,370 0 0
JPMORGAN CHASE & CO COM 46625H100 10,164 150,000 SH   DFND 3,6 150,000 0 0
JPMORGAN CHASE & CO COM 46625H100 116,861 1,724,630 SH   DFND 5,6 1,724,630 0 0
MCKESSON CORP COM 58155Q103 26,833 119,360 SH   DFND 2,3,6 119,360 0 0
MCKESSON CORP COM 58155Q103 407 1,811 SH   DFND 3,6 1,811 0 0
MCKESSON CORP COM 58155Q103 5,946 26,450 SH   DFND 3,4,6 26,450 0 0
MCKESSON CORP COM 58155Q103 45,497 202,379 SH   DFND 5,6 202,379 0 0
OLD REP INTL CORP COM 680223104 46,890 3,000,000 SH   DFND 3,6 3,000,000 0 0
PEABODY ENERGY CORP COM 704549104 3,373 1,540,000 SH   DFND 3,6 1,540,000 0 0
PPG INDS INC COM 693506107 49,489 431,388 SH   DFND 2,3,6 431,388 0 0
PPG INDS INC COM 693506107 1,177 10,256 SH   DFND 3,6 10,256 0 0
PPG INDS INC COM 693506107 19,876 173,258 SH   DFND 3,4,6 173,258 0 0
PPG INDS INC COM 693506107 84,330 735,098 SH   DFND 5,6 735,098 0 0
ROPER INDS INC NEW COM 776696106 37,257 216,031 SH   DFND 2,3,6 216,031 0 0
ROPER INDS INC NEW COM 776696106 467 2,706 SH   DFND 3,6 2,706 0 0
ROPER INDS INC NEW COM 776696106 8,127 47,122 SH   DFND 3,4,6 47,122 0 0
ROPER INDS INC NEW COM 776696106 70,560 409,141 SH   DFND 5,6 409,141 0 0
SELECT SECTOR SPDR TR SBI HEALTHCARE 81369Y209 64,466 866,598 SH   DFND 2,3,6 866,598 0 0
SELECT SECTOR SPDR TR SBI HEALTHCARE 81369Y209 809 10,872 SH   DFND 3,6 10,872 0 0
SELECT SECTOR SPDR TR SBI HEALTHCARE 81369Y209 21,332 286,765 SH   DFND 3,4,6 286,765 0 0
SELECT SECTOR SPDR TR SBI HEALTHCARE 81369Y209 84,490 1,135,765 SH   DFND 5,6 1,135,765 0 0
UNITED CONTL HLDGS INC COM 910047109 24,864 469,045 SH   DFND 0,6 469,045 0 0
UNITED CONTL HLDGS INC COM 910047109 578 10,900 SH   DFND 2,3,6 10,900 0 0
UNITED CONTL HLDGS INC COM 910047109 30,616 577,555 SH   DFND 3,6 577,555 0 0
UNITED CONTL HLDGS INC COM 910047109 133 2,500 SH   DFND 3,4,6 2,500 0 0
UNITED CONTL HLDGS INC COM 910047109 1,590 30,000 SH   DFND 5,6 30,000 0 0
VALEANT PHARMACEUTICALS INTL COM 91911K102 31,545 142,000 SH   DFND 0,6 142,000 0 0
VALEANT PHARMACEUTICALS INTL COM 91911K102 29,022 130,640 SH   DFND 2,3,6 130,640 0 0
VALEANT PHARMACEUTICALS INTL COM 91911K102 2,318 10,434 SH   DFND 3,6 10,434 0 0
VALEANT PHARMACEUTICALS INTL COM 91911K102 4,717 21,232 SH   DFND 3,4,6 21,232 0 0
VALEANT PHARMACEUTICALS INTL COM 91911K102 46,250 208,194 SH   DFND 5,6 208,194 0 0
VERIZON COMMUNICATIONS INC COM 92343V104 18,644 400,000 SH   DFND 0,6 400,000 0 0
VERIZON COMMUNICATIONS INC COM 92343V104 53,343 1,144,445 SH   DFND 2,3,6 1,144,445 0 0
VERIZON COMMUNICATIONS INC COM 92343V104 409 8,778 SH   DFND 3,6 8,778 0 0
VERIZON COMMUNICATIONS INC COM 92343V104 4,784 102,632 SH   DFND 3,4,6 102,632 0 0
VERIZON COMMUNICATIONS INC COM 92343V104 63,117 1,354,145 SH   DFND 5,6 1,354,145 0 0
VISA INC COM CL A 92826C839 101,531 1,512,000 SH   DFND 2,3,6 1,512,000 0 0
VISA INC COM CL A 92826C839 806 12,000 SH   DFND 3,6 12,000 0 0
VISA INC COM CL A 92826C839 28,740 428,000 SH   DFND 3,4,6 428,000 0 0
VISA INC COM CL A 92826C839 94,010 1,400,000 SH   DFND 5,6 1,400,000 0 0
WELLS FARGO & CO NEW COM 949746101 29,245 520,010 SH   DFND 2,3,6 520,010 0 0
WELLS FARGO & CO NEW COM 949746101 366 6,500 SH   DFND 3,6 6,500 0 0
WELLS FARGO & CO NEW COM 949746101 7,071 125,730 SH   DFND 3,4,6 125,730 0 0
WELLS FARGO & CO NEW COM 949746101 50,856 904,260 SH   DFND 5,6 904,260 0 0
WILLIAMS COS INC DEL COM 969457100 23,714 413,210 SH   DFND 2,3,6 413,210 0 0
WILLIAMS COS INC DEL COM 969457100 114,780 2,000,000 SH   DFND 3,6 2,000,000 0 0
WILLIAMS COS INC DEL COM 969457100 42,284 736,790 SH   DFND 5,6 736,790 0 0