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    <issuerName>CONSTELLATION BRANDS, INC.</issuerName>
    <cusip>21036P108</cusip>
    <meetingDate>07/15/2025</meetingDate>
    <voteDescription>To approve, by an advisory vote, the compensation of the Company's named executive officers as disclosed in the Proxy Statement</voteDescription>
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      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
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    <sharesVoted>2000</sharesVoted>
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    <issuerName>VODAFONE GROUP PLC</issuerName>
    <cusip>92857W308</cusip>
    <meetingDate>07/29/2025</meetingDate>
    <voteDescription>To approve the Annual Report on Remuneration contained in the Remuneration Report of the Board for the year ended 31 March 2025</voteDescription>
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      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
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        <howVoted>FOR</howVoted>
        <sharesVoted>27000</sharesVoted>
        <managementRecommendation>FOR</managementRecommendation>
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    <issuerName>RALPH LAUREN CORPORATION</issuerName>
    <cusip>751212101</cusip>
    <meetingDate>07/31/2025</meetingDate>
    <voteDescription>Approval, on an advisory basis, of the compensation of our named executive officers and our compensation philosophy, policies and practices as described in the accompanying Proxy Statement</voteDescription>
    <voteCategories>
      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
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    <sharesVoted>3000</sharesVoted>
    <sharesOnLoan>0</sharesOnLoan>
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        <howVoted>FOR</howVoted>
        <sharesVoted>3000</sharesVoted>
        <managementRecommendation>FOR</managementRecommendation>
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  <proxyTable>
    <issuerName>NIKE, INC.</issuerName>
    <cusip>654106103</cusip>
    <meetingDate>09/09/2025</meetingDate>
    <voteDescription>To approve executive compensation by an advisory vote</voteDescription>
    <voteCategories>
      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
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    <sharesVoted>47500</sharesVoted>
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        <sharesVoted>47500</sharesVoted>
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  <proxyTable>
    <issuerName>GENERAL MILLS, INC.</issuerName>
    <cusip>370334104</cusip>
    <meetingDate>09/30/2025</meetingDate>
    <voteDescription>Advisory Vote on Executive Compensation</voteDescription>
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      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
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    <sharesVoted>20000</sharesVoted>
    <sharesOnLoan>0</sharesOnLoan>
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        <howVoted>FOR</howVoted>
        <sharesVoted>20000</sharesVoted>
        <managementRecommendation>FOR</managementRecommendation>
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    <issuerName>THE PROCTER &amp; GAMBLE COMPANY</issuerName>
    <cusip>742718109</cusip>
    <meetingDate>10/14/2025</meetingDate>
    <voteDescription>Advisory Vote to Approve the Company's Executive Compensation (the &quot;Say on Pay&quot; vote)</voteDescription>
    <voteCategories>
      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
      </voteCategory>
    </voteCategories>
    <sharesVoted>11000</sharesVoted>
    <sharesOnLoan>0</sharesOnLoan>
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        <howVoted>FOR</howVoted>
        <sharesVoted>11000</sharesVoted>
        <managementRecommendation>FOR</managementRecommendation>
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    <issuerName>MICROSOFT CORPORATION</issuerName>
    <cusip>594918104</cusip>
    <meetingDate>12/05/2025</meetingDate>
    <voteDescription>Advisory Vote to Approve Named Executive Officer Compensation (&quot;say-on-pay vote&quot;)</voteDescription>
    <voteCategories>
      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
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    </voteCategories>
    <sharesVoted>2000</sharesVoted>
    <sharesOnLoan>0</sharesOnLoan>
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        <howVoted>FOR</howVoted>
        <sharesVoted>2000</sharesVoted>
        <managementRecommendation>FOR</managementRecommendation>
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  <proxyTable>
    <issuerName>VISA INC.</issuerName>
    <cusip>92826C839</cusip>
    <meetingDate>01/27/2026</meetingDate>
    <voteDescription>To approve, on an advisory basis, the compensation paid to our named executive officers.</voteDescription>
    <voteCategories>
      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
      </voteCategory>
    </voteCategories>
    <sharesVoted>3000</sharesVoted>
    <sharesOnLoan>0</sharesOnLoan>
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        <howVoted>FOR</howVoted>
        <sharesVoted>3000</sharesVoted>
        <managementRecommendation>FOR</managementRecommendation>
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  <proxyTable>
    <issuerName>APPLE INC.</issuerName>
    <cusip>037833100</cusip>
    <meetingDate>02/24/2026</meetingDate>
    <voteDescription>Advisory vote to approve executive compensation</voteDescription>
    <voteCategories>
      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
      </voteCategory>
    </voteCategories>
    <sharesVoted>74800</sharesVoted>
    <sharesOnLoan>0</sharesOnLoan>
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        <howVoted>FOR</howVoted>
        <sharesVoted>74800</sharesVoted>
        <managementRecommendation>FOR</managementRecommendation>
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  <proxyTable>
    <issuerName>ASTRAZENECA PLC</issuerName>
    <cusip>G0593M107</cusip>
    <meetingDate>04/09/2026</meetingDate>
    <voteDescription>To approve the annual statement of the Chair of the Remuneration Committee and the Annual Report on Remuneration for the year ended December 31, 2025</voteDescription>
    <voteCategories>
      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
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    <sharesVoted>4000</sharesVoted>
    <sharesOnLoan>0</sharesOnLoan>
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        <howVoted>FOR</howVoted>
        <sharesVoted>4000</sharesVoted>
        <managementRecommendation>FOR</managementRecommendation>
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    <issuerName>BRITISH AMERICAN TOBACCO P.L.C.</issuerName>
    <cusip>110448107</cusip>
    <meetingDate>04/15/2026</meetingDate>
    <voteDescription>Approval of the 2025 Directors' remuneration report</voteDescription>
    <voteCategories>
      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
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    <sharesVoted>19000</sharesVoted>
    <sharesOnLoan>0</sharesOnLoan>
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        <howVoted>FOR</howVoted>
        <sharesVoted>19000</sharesVoted>
        <managementRecommendation>FOR</managementRecommendation>
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    <issuerName>CARRIER GLOBAL CORPORATION</issuerName>
    <cusip>14448C104</cusip>
    <meetingDate>04/15/2026</meetingDate>
    <voteDescription>Advisory Vote to Approve Named Executive Officer Compensation</voteDescription>
    <voteCategories>
      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
      </voteCategory>
    </voteCategories>
    <sharesVoted>6000</sharesVoted>
    <sharesOnLoan>0</sharesOnLoan>
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        <howVoted>FOR</howVoted>
        <sharesVoted>6000</sharesVoted>
        <managementRecommendation>FOR</managementRecommendation>
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    <issuerName>BROADCOM INC</issuerName>
    <cusip>11135F101</cusip>
    <meetingDate>04/20/2026</meetingDate>
    <voteDescription>Advisory vote to approve the named executive officer compensation</voteDescription>
    <voteCategories>
      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
      </voteCategory>
    </voteCategories>
    <sharesVoted>1500</sharesVoted>
    <sharesOnLoan>0</sharesOnLoan>
    <vote>
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        <howVoted>FOR</howVoted>
        <sharesVoted>1500</sharesVoted>
        <managementRecommendation>FOR</managementRecommendation>
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  <proxyTable>
    <issuerName>ASML HOLDINGS N.V.</issuerName>
    <cusip>N07059210</cusip>
    <meetingDate>04/22/2026</meetingDate>
    <voteDescription>Advisory vote on the remuneration report for the Board of Management and the Supervisory Board for the financial year 2025</voteDescription>
    <voteCategories>
      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
      </voteCategory>
    </voteCategories>
    <sharesVoted>1300</sharesVoted>
    <sharesOnLoan>0</sharesOnLoan>
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        <howVoted>FOR</howVoted>
        <sharesVoted>1300</sharesVoted>
        <managementRecommendation>FOR</managementRecommendation>
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  <proxyTable>
    <issuerName>JOHNSON &amp; JOHNSON</issuerName>
    <cusip>478160104</cusip>
    <meetingDate>04/23/2026</meetingDate>
    <voteDescription>Advisory Vote to Approve Named Executive Officer Compensation</voteDescription>
    <voteCategories>
      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
      </voteCategory>
    </voteCategories>
    <sharesVoted>8062</sharesVoted>
    <sharesOnLoan>0</sharesOnLoan>
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        <howVoted>FOR</howVoted>
        <sharesVoted>8062</sharesVoted>
        <managementRecommendation>FOR</managementRecommendation>
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  <proxyTable>
    <issuerName>PFIZER INC.</issuerName>
    <cusip>717081103</cusip>
    <meetingDate>04/23/2026</meetingDate>
    <voteDescription>2026 advisory approval of executive compensation</voteDescription>
    <voteCategories>
      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
      </voteCategory>
    </voteCategories>
    <sharesVoted>57754</sharesVoted>
    <sharesOnLoan>0</sharesOnLoan>
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        <howVoted>FOR</howVoted>
        <sharesVoted>57754</sharesVoted>
        <managementRecommendation>FOR</managementRecommendation>
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  <proxyTable>
    <issuerName>BANK OF HAWAII CORPORATION</issuerName>
    <cusip>062540109</cusip>
    <meetingDate>04/24/2026</meetingDate>
    <voteDescription>Say on Pay - An advisory vote on executive compensation</voteDescription>
    <voteCategories>
      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
      </voteCategory>
    </voteCategories>
    <sharesVoted>12000</sharesVoted>
    <sharesOnLoan>0</sharesOnLoan>
    <vote>
      <voteRecord>
        <howVoted>FOR</howVoted>
        <sharesVoted>12000</sharesVoted>
        <managementRecommendation>FOR</managementRecommendation>
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  <proxyTable>
    <issuerName>AMERICAN ELECTRIC POWER COMPANY, INC.</issuerName>
    <cusip>025537101</cusip>
    <meetingDate>04/28/2026</meetingDate>
    <voteDescription>Approval, on an advisory basis, of the Company's named executive officer compensation</voteDescription>
    <voteCategories>
      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
      </voteCategory>
    </voteCategories>
    <sharesVoted>10000</sharesVoted>
    <sharesOnLoan>0</sharesOnLoan>
    <vote>
      <voteRecord>
        <howVoted>FOR</howVoted>
        <sharesVoted>10000</sharesVoted>
        <managementRecommendation>FOR</managementRecommendation>
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  <proxyTable>
    <issuerName>INTERNATIONAL BUSINESS MACHINES CORP.</issuerName>
    <cusip>459200101</cusip>
    <meetingDate>04/28/2026</meetingDate>
    <voteDescription>Advisory Vote on Executive Compensation</voteDescription>
    <voteCategories>
      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
      </voteCategory>
    </voteCategories>
    <sharesVoted>4000</sharesVoted>
    <sharesOnLoan>0</sharesOnLoan>
    <vote>
      <voteRecord>
        <howVoted>FOR</howVoted>
        <sharesVoted>4000</sharesVoted>
        <managementRecommendation>FOR</managementRecommendation>
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  <proxyTable>
    <issuerName>VICI PROPERTIES INC.</issuerName>
    <cusip>925652109</cusip>
    <meetingDate>04/28/2026</meetingDate>
    <voteDescription>To approve (on a non-binding, advisory basis) the compensation of our named executive officers.</voteDescription>
    <voteCategories>
      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
      </voteCategory>
    </voteCategories>
    <sharesVoted>38000</sharesVoted>
    <sharesOnLoan>0</sharesOnLoan>
    <vote>
      <voteRecord>
        <howVoted>FOR</howVoted>
        <sharesVoted>38000</sharesVoted>
        <managementRecommendation>FOR</managementRecommendation>
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  <proxyTable>
    <issuerName>SANOFI</issuerName>
    <cusip>80105N105</cusip>
    <meetingDate>04/29/2026</meetingDate>
    <voteDescription>Approval of the compensation policy for Bel&#233;n Garijo, future Chief Executive Officer</voteDescription>
    <voteCategories>
      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
      </voteCategory>
    </voteCategories>
    <sharesVoted>4000</sharesVoted>
    <sharesOnLoan>0</sharesOnLoan>
    <vote>
      <voteRecord>
        <howVoted>FOR</howVoted>
        <sharesVoted>4000</sharesVoted>
        <managementRecommendation>FOR</managementRecommendation>
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  <proxyTable>
    <issuerName>SANOFI</issuerName>
    <cusip>80105N105</cusip>
    <meetingDate>04/29/2026</meetingDate>
    <voteDescription>Approval of the compensation policy for directors</voteDescription>
    <voteCategories>
      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
      </voteCategory>
    </voteCategories>
    <sharesVoted>4000</sharesVoted>
    <sharesOnLoan>0</sharesOnLoan>
    <vote>
      <voteRecord>
        <howVoted>FOR</howVoted>
        <sharesVoted>4000</sharesVoted>
        <managementRecommendation>FOR</managementRecommendation>
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  <proxyTable>
    <issuerName>SANOFI</issuerName>
    <cusip>80105N105</cusip>
    <meetingDate>04/29/2026</meetingDate>
    <voteDescription>Approval of the compensation policy for Olivier Charmeil, Interim Chief Executive Officer</voteDescription>
    <voteCategories>
      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
      </voteCategory>
    </voteCategories>
    <sharesVoted>4000</sharesVoted>
    <sharesOnLoan>0</sharesOnLoan>
    <vote>
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        <howVoted>FOR</howVoted>
        <sharesVoted>4000</sharesVoted>
        <managementRecommendation>FOR</managementRecommendation>
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  <proxyTable>
    <issuerName>SANOFI</issuerName>
    <cusip>80105N105</cusip>
    <meetingDate>04/29/2026</meetingDate>
    <voteDescription>Approval of the compensation policy for Paul Hudson, Chief Executive Officer until end-of-day on February 17, 2026</voteDescription>
    <voteCategories>
      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
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    <sharesVoted>4000</sharesVoted>
    <sharesOnLoan>0</sharesOnLoan>
    <vote>
      <voteRecord>
        <howVoted>FOR</howVoted>
        <sharesVoted>4000</sharesVoted>
        <managementRecommendation>FOR</managementRecommendation>
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  <proxyTable>
    <issuerName>SANOFI</issuerName>
    <cusip>80105N105</cusip>
    <meetingDate>04/29/2026</meetingDate>
    <voteDescription>Approval of the compensation policy for the Chairman of the Board of Directors</voteDescription>
    <voteCategories>
      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
      </voteCategory>
    </voteCategories>
    <sharesVoted>4000</sharesVoted>
    <sharesOnLoan>0</sharesOnLoan>
    <vote>
      <voteRecord>
        <howVoted>FOR</howVoted>
        <sharesVoted>4000</sharesVoted>
        <managementRecommendation>FOR</managementRecommendation>
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  <proxyTable>
    <issuerName>SANOFI</issuerName>
    <cusip>80105N105</cusip>
    <meetingDate>04/29/2026</meetingDate>
    <voteDescription>Approval of the components of the compensation paid or awarded in respect of the year ended December 31, 2025 to Fr&#233;d&#233;ric Oud&#233;a, Chairman of the Board</voteDescription>
    <voteCategories>
      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
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    </voteCategories>
    <sharesVoted>4000</sharesVoted>
    <sharesOnLoan>0</sharesOnLoan>
    <vote>
      <voteRecord>
        <howVoted>FOR</howVoted>
        <sharesVoted>4000</sharesVoted>
        <managementRecommendation>FOR</managementRecommendation>
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  <proxyTable>
    <issuerName>SANOFI</issuerName>
    <cusip>80105N105</cusip>
    <meetingDate>04/29/2026</meetingDate>
    <voteDescription>Approval of the components of the compensation paid or awarded in respect of the year ended December 31, 2025 to Paul Hudson, Chief Executive Officer</voteDescription>
    <voteCategories>
      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
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    <sharesVoted>4000</sharesVoted>
    <sharesOnLoan>0</sharesOnLoan>
    <vote>
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        <howVoted>FOR</howVoted>
        <sharesVoted>4000</sharesVoted>
        <managementRecommendation>FOR</managementRecommendation>
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  <proxyTable>
    <issuerName>SANOFI</issuerName>
    <cusip>80105N105</cusip>
    <meetingDate>04/29/2026</meetingDate>
    <voteDescription>Approval of the report on the compensation of corporate officers issued in accordance with Article L. 22-10-9 of the French Commercial Code</voteDescription>
    <voteCategories>
      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
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    <sharesVoted>4000</sharesVoted>
    <sharesOnLoan>0</sharesOnLoan>
    <vote>
      <voteRecord>
        <howVoted>FOR</howVoted>
        <sharesVoted>4000</sharesVoted>
        <managementRecommendation>FOR</managementRecommendation>
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  <proxyTable>
    <issuerName>SANOFI</issuerName>
    <cusip>80105N105</cusip>
    <meetingDate>04/29/2026</meetingDate>
    <voteDescription>Setting of the amount of directors' compensation</voteDescription>
    <voteCategories>
      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
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    <sharesVoted>4000</sharesVoted>
    <sharesOnLoan>0</sharesOnLoan>
    <vote>
      <voteRecord>
        <howVoted>FOR</howVoted>
        <sharesVoted>4000</sharesVoted>
        <managementRecommendation>FOR</managementRecommendation>
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  <proxyTable>
    <issuerName>THE COCA-COLA COMPANY</issuerName>
    <cusip>191216100</cusip>
    <meetingDate>04/29/2026</meetingDate>
    <voteDescription>Conduct an advisory vote to approve executive compensation</voteDescription>
    <voteCategories>
      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
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    <sharesVoted>40000</sharesVoted>
    <sharesOnLoan>0</sharesOnLoan>
    <vote>
      <voteRecord>
        <howVoted>FOR</howVoted>
        <sharesVoted>40000</sharesVoted>
        <managementRecommendation>FOR</managementRecommendation>
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  <proxyTable>
    <issuerName>INTUITIVE SURGICAL, INC.</issuerName>
    <cusip>46120E602</cusip>
    <meetingDate>04/30/2026</meetingDate>
    <voteDescription>To approve, by advisory vote, the compensation of the Company's Named Executive Officers.</voteDescription>
    <voteCategories>
      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
      </voteCategory>
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    <sharesVoted>1200</sharesVoted>
    <sharesOnLoan>0</sharesOnLoan>
    <vote>
      <voteRecord>
        <howVoted>FOR</howVoted>
        <sharesVoted>1200</sharesVoted>
        <managementRecommendation>FOR</managementRecommendation>
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  <proxyTable>
    <issuerName>RTX CORPORATION</issuerName>
    <cusip>75513E101</cusip>
    <meetingDate>04/30/2026</meetingDate>
    <voteDescription>Advisory Vote to Approve Executive Compensation</voteDescription>
    <voteCategories>
      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
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    </voteCategories>
    <sharesVoted>6000</sharesVoted>
    <sharesOnLoan>0</sharesOnLoan>
    <vote>
      <voteRecord>
        <howVoted>FOR</howVoted>
        <sharesVoted>6000</sharesVoted>
        <managementRecommendation>FOR</managementRecommendation>
      </voteRecord>
    </vote>
  </proxyTable>
  <proxyTable>
    <issuerName>BERKSHIRE HATHAWAY INC.</issuerName>
    <cusip>084670108</cusip>
    <meetingDate>05/02/2026</meetingDate>
    <voteDescription>Non-binding resolution to determine the frequency (whether annual, biennial or triennial) with which shareholders of the Company shall be entitled to have an advisory vote on executive compensation.</voteDescription>
    <voteCategories>
      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
      </voteCategory>
    </voteCategories>
    <sharesVoted>9</sharesVoted>
    <sharesOnLoan>0</sharesOnLoan>
    <vote>
      <voteRecord>
        <howVoted>3 YEARS</howVoted>
        <sharesVoted>9</sharesVoted>
        <managementRecommendation>FOR</managementRecommendation>
      </voteRecord>
    </vote>
  </proxyTable>
  <proxyTable>
    <issuerName>BERKSHIRE HATHAWAY INC.</issuerName>
    <cusip>084670108</cusip>
    <meetingDate>05/02/2026</meetingDate>
    <voteDescription>Non-binding resolution to approve the compensation of the Company's Named Executive Officers, as described in the 2026 Proxy Statement.</voteDescription>
    <voteCategories>
      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
      </voteCategory>
    </voteCategories>
    <sharesVoted>9</sharesVoted>
    <sharesOnLoan>0</sharesOnLoan>
    <vote>
      <voteRecord>
        <howVoted>FOR</howVoted>
        <sharesVoted>9</sharesVoted>
        <managementRecommendation>FOR</managementRecommendation>
      </voteRecord>
    </vote>
  </proxyTable>
  <proxyTable>
    <issuerName>ELI LILLY AND COMPANY</issuerName>
    <cusip>532457108</cusip>
    <meetingDate>05/04/2026</meetingDate>
    <voteDescription>Approval, on an advisory basis, of the compensation paid to the company's named executive officers.</voteDescription>
    <voteCategories>
      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
      </voteCategory>
    </voteCategories>
    <sharesVoted>1000</sharesVoted>
    <sharesOnLoan>0</sharesOnLoan>
    <vote>
      <voteRecord>
        <howVoted>FOR</howVoted>
        <sharesVoted>1000</sharesVoted>
        <managementRecommendation>FOR</managementRecommendation>
      </voteRecord>
    </vote>
  </proxyTable>
  <proxyTable>
    <issuerName>BRISTOL-MYERS SQUIBB CO</issuerName>
    <cusip>110122108</cusip>
    <meetingDate>05/05/2026</meetingDate>
    <voteDescription>Advisory Vote to Approve the Compensation of our Named Executive Officers</voteDescription>
    <voteCategories>
      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
      </voteCategory>
    </voteCategories>
    <sharesVoted>15000</sharesVoted>
    <sharesOnLoan>0</sharesOnLoan>
    <vote>
      <voteRecord>
        <howVoted>FOR</howVoted>
        <sharesVoted>15000</sharesVoted>
        <managementRecommendation>FOR</managementRecommendation>
      </voteRecord>
    </vote>
  </proxyTable>
  <proxyTable>
    <issuerName>ENBRIDGE INC.</issuerName>
    <cusip>29250N105</cusip>
    <meetingDate>05/06/2026</meetingDate>
    <voteDescription>Accept Enbridge's approach to executive compensation, as disclosed in the Management Information Circular.</voteDescription>
    <voteCategories>
      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
      </voteCategory>
    </voteCategories>
    <sharesVoted>20000</sharesVoted>
    <sharesOnLoan>0</sharesOnLoan>
    <vote>
      <voteRecord>
        <howVoted>FOR</howVoted>
        <sharesVoted>20000</sharesVoted>
        <managementRecommendation>FOR</managementRecommendation>
      </voteRecord>
    </vote>
  </proxyTable>
  <proxyTable>
    <issuerName>FEDERAL REALTY INVESTMENT TRUST</issuerName>
    <cusip>313745101</cusip>
    <meetingDate>05/06/2026</meetingDate>
    <voteDescription>To approve, on a non-binding, advisory basis, the compensation of our named executive officers</voteDescription>
    <voteCategories>
      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
      </voteCategory>
    </voteCategories>
    <sharesVoted>7000</sharesVoted>
    <sharesOnLoan>0</sharesOnLoan>
    <vote>
      <voteRecord>
        <howVoted>FOR</howVoted>
        <sharesVoted>7000</sharesVoted>
        <managementRecommendation>FOR</managementRecommendation>
      </voteRecord>
    </vote>
  </proxyTable>
  <proxyTable>
    <issuerName>PEPSICO, INC.</issuerName>
    <cusip>713448108</cusip>
    <meetingDate>05/06/2026</meetingDate>
    <voteDescription>Advisory approval of the Company's executive compensation.</voteDescription>
    <voteCategories>
      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
      </voteCategory>
    </voteCategories>
    <sharesVoted>15000</sharesVoted>
    <sharesOnLoan>0</sharesOnLoan>
    <vote>
      <voteRecord>
        <howVoted>FOR</howVoted>
        <sharesVoted>15000</sharesVoted>
        <managementRecommendation>FOR</managementRecommendation>
      </voteRecord>
    </vote>
  </proxyTable>
  <proxyTable>
    <issuerName>PHILIP MORRIS INTERNATIONAL INC.</issuerName>
    <cusip>718172109</cusip>
    <meetingDate>05/06/2026</meetingDate>
    <voteDescription>Advisory Vote Approving Executive Compensation</voteDescription>
    <voteCategories>
      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
      </voteCategory>
    </voteCategories>
    <sharesVoted>29500</sharesVoted>
    <sharesOnLoan>0</sharesOnLoan>
    <vote>
      <voteRecord>
        <howVoted>FOR</howVoted>
        <sharesVoted>29500</sharesVoted>
        <managementRecommendation>FOR</managementRecommendation>
      </voteRecord>
    </vote>
  </proxyTable>
  <proxyTable>
    <issuerName>IRON MOUNTAIN INC.</issuerName>
    <cusip>46284V101</cusip>
    <meetingDate>05/07/2026</meetingDate>
    <voteDescription>The approval of a non-binding, advisory resolution approving the compensation of our named executive officers as described in the Iron Mountain Incorporated Proxy Statement.</voteDescription>
    <voteCategories>
      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
      </voteCategory>
    </voteCategories>
    <sharesVoted>27000</sharesVoted>
    <sharesOnLoan>0</sharesOnLoan>
    <vote>
      <voteRecord>
        <howVoted>FOR</howVoted>
        <sharesVoted>27000</sharesVoted>
        <managementRecommendation>FOR</managementRecommendation>
      </voteRecord>
    </vote>
  </proxyTable>
  <proxyTable>
    <issuerName>UNITED PARCEL SERVICE, INC.</issuerName>
    <cusip>911312106</cusip>
    <meetingDate>05/07/2026</meetingDate>
    <voteDescription>To approve, on an advisory basis, named executive officer compensation.</voteDescription>
    <voteCategories>
      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
      </voteCategory>
    </voteCategories>
    <sharesVoted>5000</sharesVoted>
    <sharesOnLoan>0</sharesOnLoan>
    <vote>
      <voteRecord>
        <howVoted>FOR</howVoted>
        <sharesVoted>5000</sharesVoted>
        <managementRecommendation>FOR</managementRecommendation>
      </voteRecord>
    </vote>
  </proxyTable>
  <proxyTable>
    <issuerName>ABBVIE INC.</issuerName>
    <cusip>00287Y109</cusip>
    <meetingDate>05/08/2026</meetingDate>
    <voteDescription>Say on Pay - An advisory vote on the approval of executive compensation</voteDescription>
    <voteCategories>
      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
      </voteCategory>
    </voteCategories>
    <sharesVoted>11000</sharesVoted>
    <sharesOnLoan>0</sharesOnLoan>
    <vote>
      <voteRecord>
        <howVoted>FOR</howVoted>
        <sharesVoted>11000</sharesVoted>
        <managementRecommendation>FOR</managementRecommendation>
      </voteRecord>
    </vote>
  </proxyTable>
  <proxyTable>
    <issuerName>COLGATE PALMOLIVE</issuerName>
    <cusip>194162103</cusip>
    <meetingDate>05/08/2026</meetingDate>
    <voteDescription>Advisory vote on executive compensation.</voteDescription>
    <voteCategories>
      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
      </voteCategory>
    </voteCategories>
    <sharesVoted>12000</sharesVoted>
    <sharesOnLoan>0</sharesOnLoan>
    <vote>
      <voteRecord>
        <howVoted>FOR</howVoted>
        <sharesVoted>12000</sharesVoted>
        <managementRecommendation>FOR</managementRecommendation>
      </voteRecord>
    </vote>
  </proxyTable>
  <proxyTable>
    <issuerName>TANGER INC.</issuerName>
    <cusip>875465106</cusip>
    <meetingDate>05/08/2026</meetingDate>
    <voteDescription>To approve, on an advisory (non-binding) basis, named executive officer compensation.</voteDescription>
    <voteCategories>
      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
      </voteCategory>
    </voteCategories>
    <sharesVoted>25200</sharesVoted>
    <sharesOnLoan>0</sharesOnLoan>
    <vote>
      <voteRecord>
        <howVoted>FOR</howVoted>
        <sharesVoted>25200</sharesVoted>
        <managementRecommendation>FOR</managementRecommendation>
      </voteRecord>
    </vote>
  </proxyTable>
  <proxyTable>
    <issuerName>CONOCOPHILLIPS</issuerName>
    <cusip>20825C104</cusip>
    <meetingDate>05/12/2026</meetingDate>
    <voteDescription>Advisory Approval of Executive Compensation.</voteDescription>
    <voteCategories>
      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
      </voteCategory>
    </voteCategories>
    <sharesVoted>12000</sharesVoted>
    <sharesOnLoan>0</sharesOnLoan>
    <vote>
      <voteRecord>
        <howVoted>FOR</howVoted>
        <sharesVoted>12000</sharesVoted>
        <managementRecommendation>FOR</managementRecommendation>
      </voteRecord>
    </vote>
  </proxyTable>
  <proxyTable>
    <issuerName>SEMPRA</issuerName>
    <cusip>816851109</cusip>
    <meetingDate>05/12/2026</meetingDate>
    <voteDescription>Advisory approval of our executive compensation</voteDescription>
    <voteCategories>
      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
      </voteCategory>
    </voteCategories>
    <sharesVoted>15000</sharesVoted>
    <sharesOnLoan>0</sharesOnLoan>
    <vote>
      <voteRecord>
        <howVoted>FOR</howVoted>
        <sharesVoted>15000</sharesVoted>
        <managementRecommendation>FOR</managementRecommendation>
      </voteRecord>
    </vote>
  </proxyTable>
  <proxyTable>
    <issuerName>KINDER MORGAN, INC.</issuerName>
    <cusip>49456B101</cusip>
    <meetingDate>05/13/2026</meetingDate>
    <voteDescription>Approval, on an advisory basis, of the compensation of our named executive officers, as disclosed in the Proxy Statement</voteDescription>
    <voteCategories>
      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
      </voteCategory>
    </voteCategories>
    <sharesVoted>57500</sharesVoted>
    <sharesOnLoan>0</sharesOnLoan>
    <vote>
      <voteRecord>
        <howVoted>FOR</howVoted>
        <sharesVoted>57500</sharesVoted>
        <managementRecommendation>FOR</managementRecommendation>
      </voteRecord>
    </vote>
  </proxyTable>
  <proxyTable>
    <issuerName>PHILLIPS 66</issuerName>
    <cusip>718546104</cusip>
    <meetingDate>05/13/2026</meetingDate>
    <voteDescription>Advisory vote to approve our executive compensation.</voteDescription>
    <voteCategories>
      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
      </voteCategory>
    </voteCategories>
    <sharesVoted>6000</sharesVoted>
    <sharesOnLoan>0</sharesOnLoan>
    <vote>
      <voteRecord>
        <howVoted>FOR</howVoted>
        <sharesVoted>6000</sharesVoted>
        <managementRecommendation>FOR</managementRecommendation>
      </voteRecord>
    </vote>
  </proxyTable>
  <proxyTable>
    <issuerName>ALTRIA GROUP, INC.</issuerName>
    <cusip>02209S103</cusip>
    <meetingDate>05/14/2026</meetingDate>
    <voteDescription>Non-Binding Advisory Vote to Approve the Compensation of Altria's Named Executive Officers</voteDescription>
    <voteCategories>
      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
      </voteCategory>
    </voteCategories>
    <sharesVoted>27000</sharesVoted>
    <sharesOnLoan>0</sharesOnLoan>
    <vote>
      <voteRecord>
        <howVoted>FOR</howVoted>
        <sharesVoted>27000</sharesVoted>
        <managementRecommendation>FOR</managementRecommendation>
      </voteRecord>
    </vote>
  </proxyTable>
  <proxyTable>
    <issuerName>COPT DEFENSE PROPERTIES</issuerName>
    <cusip>22002T108</cusip>
    <meetingDate>05/14/2026</meetingDate>
    <voteDescription>Approval, on an advisory basis, of the compensation of our named executive officers as disclosed in the proxy statement for this meeting.</voteDescription>
    <voteCategories>
      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
      </voteCategory>
    </voteCategories>
    <sharesVoted>9100</sharesVoted>
    <sharesOnLoan>0</sharesOnLoan>
    <vote>
      <voteRecord>
        <howVoted>FOR</howVoted>
        <sharesVoted>9100</sharesVoted>
        <managementRecommendation>FOR</managementRecommendation>
      </voteRecord>
    </vote>
  </proxyTable>
  <proxyTable>
    <issuerName>FORD MOTOR COMPANY</issuerName>
    <cusip>345370860</cusip>
    <meetingDate>05/14/2026</meetingDate>
    <voteDescription>An Advisory Vote to Approve the Compensation of the Named Executives.</voteDescription>
    <voteCategories>
      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
      </voteCategory>
    </voteCategories>
    <sharesVoted>100000</sharesVoted>
    <sharesOnLoan>0</sharesOnLoan>
    <vote>
      <voteRecord>
        <howVoted>FOR</howVoted>
        <sharesVoted>100000</sharesVoted>
        <managementRecommendation>FOR</managementRecommendation>
      </voteRecord>
    </vote>
  </proxyTable>
  <proxyTable>
    <issuerName>MORGAN STANLEY</issuerName>
    <cusip>617446448</cusip>
    <meetingDate>05/14/2026</meetingDate>
    <voteDescription>To approve the compensation of executives as disclosed in the proxy statement (non-binding advisory vote)</voteDescription>
    <voteCategories>
      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
      </voteCategory>
    </voteCategories>
    <sharesVoted>10000</sharesVoted>
    <sharesOnLoan>0</sharesOnLoan>
    <vote>
      <voteRecord>
        <howVoted>FOR</howVoted>
        <sharesVoted>10000</sharesVoted>
        <managementRecommendation>FOR</managementRecommendation>
      </voteRecord>
    </vote>
  </proxyTable>
  <proxyTable>
    <issuerName>JPMORGAN CHASE &amp; CO.</issuerName>
    <cusip>46625H100</cusip>
    <meetingDate>05/19/2026</meetingDate>
    <voteDescription>Advisory resolution to approve executive compensation</voteDescription>
    <voteCategories>
      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
      </voteCategory>
    </voteCategories>
    <sharesVoted>12000</sharesVoted>
    <sharesOnLoan>0</sharesOnLoan>
    <vote>
      <voteRecord>
        <howVoted>FOR</howVoted>
        <sharesVoted>12000</sharesVoted>
        <managementRecommendation>FOR</managementRecommendation>
      </voteRecord>
    </vote>
  </proxyTable>
  <proxyTable>
    <issuerName>REXFORD INDUSTRIAL REALTY, INC.</issuerName>
    <cusip>76169C100</cusip>
    <meetingDate>05/19/2026</meetingDate>
    <voteDescription>The advisory resolution to approve the Company's named executive officer compensation for the fiscal year ended December 31, 2025, as described in the Rexford Industrial Realty, Inc. Proxy Statement.</voteDescription>
    <voteCategories>
      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
      </voteCategory>
    </voteCategories>
    <sharesVoted>50000</sharesVoted>
    <sharesOnLoan>0</sharesOnLoan>
    <vote>
      <voteRecord>
        <howVoted>FOR</howVoted>
        <sharesVoted>50000</sharesVoted>
        <managementRecommendation>FOR</managementRecommendation>
      </voteRecord>
    </vote>
  </proxyTable>
  <proxyTable>
    <issuerName>AMAZON.COM, INC.</issuerName>
    <cusip>023135106</cusip>
    <meetingDate>05/20/2026</meetingDate>
    <voteDescription>ADVISORY VOTE TO APPROVE EXECUTIVE COMPENSATION</voteDescription>
    <voteCategories>
      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
      </voteCategory>
    </voteCategories>
    <sharesVoted>12000</sharesVoted>
    <sharesOnLoan>0</sharesOnLoan>
    <vote>
      <voteRecord>
        <howVoted>FOR</howVoted>
        <sharesVoted>12000</sharesVoted>
        <managementRecommendation>FOR</managementRecommendation>
      </voteRecord>
    </vote>
  </proxyTable>
  <proxyTable>
    <issuerName>AVALONBAY COMMUNITIES, INC.</issuerName>
    <cusip>053484101</cusip>
    <meetingDate>05/20/2026</meetingDate>
    <voteDescription>To adopt a resolution approving, on a non-binding advisory basis, the compensation paid to the Company's Named Executive Officers, as disclosed pursuant to Item 402 of Regulation S-K, including the Compensation Discussion and Analysis, compensation tables and any related material disclosed in the proxy statement.</voteDescription>
    <voteCategories>
      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
      </voteCategory>
    </voteCategories>
    <sharesVoted>5000</sharesVoted>
    <sharesOnLoan>0</sharesOnLoan>
    <vote>
      <voteRecord>
        <howVoted>FOR</howVoted>
        <sharesVoted>5000</sharesVoted>
        <managementRecommendation>FOR</managementRecommendation>
      </voteRecord>
    </vote>
  </proxyTable>
  <proxyTable>
    <issuerName>MCDONALD'S CORPORATION</issuerName>
    <cusip>580135101</cusip>
    <meetingDate>05/20/2026</meetingDate>
    <voteDescription>Advisory Vote to Approve Executive Compensation.</voteDescription>
    <voteCategories>
      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
      </voteCategory>
    </voteCategories>
    <sharesVoted>7000</sharesVoted>
    <sharesOnLoan>0</sharesOnLoan>
    <vote>
      <voteRecord>
        <howVoted>FOR</howVoted>
        <sharesVoted>7000</sharesVoted>
        <managementRecommendation>FOR</managementRecommendation>
      </voteRecord>
    </vote>
  </proxyTable>
  <proxyTable>
    <issuerName>MONDELEZ INTERNATIONAL, INC.</issuerName>
    <cusip>609207105</cusip>
    <meetingDate>05/20/2026</meetingDate>
    <voteDescription>To approve, on an advisory basis, the Company's executive compensation</voteDescription>
    <voteCategories>
      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
      </voteCategory>
    </voteCategories>
    <sharesVoted>17612</sharesVoted>
    <sharesOnLoan>0</sharesOnLoan>
    <vote>
      <voteRecord>
        <howVoted>FOR</howVoted>
        <sharesVoted>17612</sharesVoted>
        <managementRecommendation>FOR</managementRecommendation>
      </voteRecord>
    </vote>
  </proxyTable>
  <proxyTable>
    <issuerName>ZOETIS INC.</issuerName>
    <cusip>98978V103</cusip>
    <meetingDate>05/20/2026</meetingDate>
    <voteDescription>Advisory vote to approve the frequency of future advisory votes on our executive compensation.</voteDescription>
    <voteCategories>
      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
      </voteCategory>
    </voteCategories>
    <sharesVoted>11172</sharesVoted>
    <sharesOnLoan>0</sharesOnLoan>
    <vote>
      <voteRecord>
        <howVoted>1 YEAR</howVoted>
        <sharesVoted>11172</sharesVoted>
        <managementRecommendation>FOR</managementRecommendation>
      </voteRecord>
    </vote>
  </proxyTable>
  <proxyTable>
    <issuerName>ZOETIS INC.</issuerName>
    <cusip>98978V103</cusip>
    <meetingDate>05/20/2026</meetingDate>
    <voteDescription>Advisory vote to approve our executive compensation.</voteDescription>
    <voteCategories>
      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
      </voteCategory>
    </voteCategories>
    <sharesVoted>11172</sharesVoted>
    <sharesOnLoan>0</sharesOnLoan>
    <vote>
      <voteRecord>
        <howVoted>FOR</howVoted>
        <sharesVoted>11172</sharesVoted>
        <managementRecommendation>FOR</managementRecommendation>
      </voteRecord>
    </vote>
  </proxyTable>
  <proxyTable>
    <issuerName>CHUBB LIMITED</issuerName>
    <cusip>H1467J104</cusip>
    <meetingDate>05/21/2026</meetingDate>
    <voteDescription>Advisory vote to approve executive compensation under U.S. securities law requirements</voteDescription>
    <voteCategories>
      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
      </voteCategory>
    </voteCategories>
    <sharesVoted>5000</sharesVoted>
    <sharesOnLoan>0</sharesOnLoan>
    <vote>
      <voteRecord>
        <howVoted>FOR</howVoted>
        <sharesVoted>5000</sharesVoted>
        <managementRecommendation>FOR</managementRecommendation>
      </voteRecord>
    </vote>
  </proxyTable>
  <proxyTable>
    <issuerName>CHUBB LIMITED</issuerName>
    <cusip>H1467J104</cusip>
    <meetingDate>05/21/2026</meetingDate>
    <voteDescription>Approval of the compensation of the Board of Directors and Executive Management under Swiss law requirements: Advisory vote to approve the Swiss compensation report</voteDescription>
    <voteCategories>
      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
      </voteCategory>
    </voteCategories>
    <sharesVoted>5000</sharesVoted>
    <sharesOnLoan>0</sharesOnLoan>
    <vote>
      <voteRecord>
        <howVoted>FOR</howVoted>
        <sharesVoted>5000</sharesVoted>
        <managementRecommendation>FOR</managementRecommendation>
      </voteRecord>
    </vote>
  </proxyTable>
  <proxyTable>
    <issuerName>CHUBB LIMITED</issuerName>
    <cusip>H1467J104</cusip>
    <meetingDate>05/21/2026</meetingDate>
    <voteDescription>Approval of the compensation of the Board of Directors and Executive Management under Swiss law requirements: Maximum compensation of Executive Management for the 2027 calendar year</voteDescription>
    <voteCategories>
      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
      </voteCategory>
    </voteCategories>
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    <cusip>H1467J104</cusip>
    <meetingDate>05/21/2026</meetingDate>
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    <issuerName>THE HOME DEPOT, INC.</issuerName>
    <cusip>437076102</cusip>
    <meetingDate>05/21/2026</meetingDate>
    <voteDescription>Advisory Vote to Approve Executive Compensation (&quot;Say-on-Pay&quot;)</voteDescription>
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        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
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    <issuerName>VERIZON COMMUNICATIONS INC.</issuerName>
    <cusip>92343V104</cusip>
    <meetingDate>05/21/2026</meetingDate>
    <voteDescription>Advisory vote to approve executive compensation</voteDescription>
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        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
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    <sharesVoted>27000</sharesVoted>
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    <issuerName>MERCK &amp; CO., INC.</issuerName>
    <cusip>58933Y105</cusip>
    <meetingDate>05/26/2026</meetingDate>
    <voteDescription>Non-binding advisory vote to approve the compensation of our named executive officers.</voteDescription>
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      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
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    <sharesVoted>29000</sharesVoted>
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        <howVoted>FOR</howVoted>
        <sharesVoted>29000</sharesVoted>
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    <issuerName>CHEVRON CORPORATION</issuerName>
    <cusip>166764100</cusip>
    <meetingDate>05/27/2026</meetingDate>
    <voteDescription>Advisory Vote to Approve Named Executive Officer Compensation</voteDescription>
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      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
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    <sharesVoted>9000</sharesVoted>
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        <howVoted>FOR</howVoted>
        <sharesVoted>9000</sharesVoted>
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    <issuerName>EXXON MOBIL CORPORATION</issuerName>
    <cusip>30231G102</cusip>
    <meetingDate>05/27/2026</meetingDate>
    <voteDescription>Advisory Vote to Approve Executive Compensation</voteDescription>
    <voteCategories>
      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
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    <sharesVoted>6000</sharesVoted>
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        <sharesVoted>6000</sharesVoted>
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    <issuerName>OTIS WORLDWIDE CORPORATION</issuerName>
    <cusip>68902V107</cusip>
    <meetingDate>05/27/2026</meetingDate>
    <voteDescription>Advisory Vote to Approve Executive Compensation</voteDescription>
    <voteCategories>
      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
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    <sharesVoted>3000</sharesVoted>
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    <issuerName>ON HOLDING AG</issuerName>
    <cusip>H5919C104</cusip>
    <meetingDate>05/28/2026</meetingDate>
    <voteDescription>Consultative Vote on the 2025 Compensation Report</voteDescription>
    <voteCategories>
      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
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    <sharesVoted>35000</sharesVoted>
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        <sharesVoted>35000</sharesVoted>
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    <issuerName>ON HOLDING AG</issuerName>
    <cusip>H5919C104</cusip>
    <meetingDate>05/28/2026</meetingDate>
    <voteDescription>Approval of a Supplementary Amount for the Compensation of the Executive Officers for the Financial Year 2025</voteDescription>
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      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
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    <sharesVoted>35000</sharesVoted>
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        <sharesVoted>35000</sharesVoted>
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    <issuerName>ON HOLDING AG</issuerName>
    <cusip>H5919C104</cusip>
    <meetingDate>05/28/2026</meetingDate>
    <voteDescription>Approval of the Maximum Aggregate Compensation for the Executive Officers for the Financial Year 2027</voteDescription>
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      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
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    <sharesVoted>35000</sharesVoted>
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        <howVoted>FOR</howVoted>
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    <issuerName>DIGITAL REALTY TRUST, INC.</issuerName>
    <cusip>253868103</cusip>
    <meetingDate>05/29/2026</meetingDate>
    <voteDescription>To approve, on a non-binding, advisory basis, the compensation of the Company's named executive officers, as more fully described in the accompanying Proxy Statement (Say-on-Pay).</voteDescription>
    <voteCategories>
      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
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    <sharesVoted>5500</sharesVoted>
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        <howVoted>FOR</howVoted>
        <sharesVoted>5500</sharesVoted>
        <managementRecommendation>FOR</managementRecommendation>
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    <issuerName>GENERAL MOTORS COMPANY</issuerName>
    <cusip>37045V100</cusip>
    <meetingDate>06/02/2026</meetingDate>
    <voteDescription>Proposal to Approve, on an Advisory Basis, the Frequency of Future Advisory Votes on Named Executive Officer Compensation</voteDescription>
    <voteCategories>
      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
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    <sharesVoted>15000</sharesVoted>
    <sharesOnLoan>0</sharesOnLoan>
    <vote>
      <voteRecord>
        <howVoted>1 YEAR</howVoted>
        <sharesVoted>15000</sharesVoted>
        <managementRecommendation>FOR</managementRecommendation>
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    <issuerName>GENERAL MOTORS COMPANY</issuerName>
    <cusip>37045V100</cusip>
    <meetingDate>06/02/2026</meetingDate>
    <voteDescription>Advisory Approval of Named Executive Officer Compensation</voteDescription>
    <voteCategories>
      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
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    <sharesVoted>15000</sharesVoted>
    <sharesOnLoan>0</sharesOnLoan>
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      <voteRecord>
        <howVoted>FOR</howVoted>
        <sharesVoted>15000</sharesVoted>
        <managementRecommendation>FOR</managementRecommendation>
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    <issuerName>CATERPILLAR INC.</issuerName>
    <cusip>149123101</cusip>
    <meetingDate>06/10/2026</meetingDate>
    <voteDescription>Advisory Vote to Approve Executive Compensation</voteDescription>
    <voteCategories>
      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
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    <sharesVoted>4000</sharesVoted>
    <sharesOnLoan>0</sharesOnLoan>
    <vote>
      <voteRecord>
        <howVoted>FOR</howVoted>
        <sharesVoted>4000</sharesVoted>
        <managementRecommendation>FOR</managementRecommendation>
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    <issuerName>EQUITY RESIDENTIAL</issuerName>
    <cusip>29476L107</cusip>
    <meetingDate>06/18/2026</meetingDate>
    <voteDescription>Approval of Executive Compensation.</voteDescription>
    <voteCategories>
      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
      </voteCategory>
    </voteCategories>
    <sharesVoted>20000</sharesVoted>
    <sharesOnLoan>0</sharesOnLoan>
    <vote>
      <voteRecord>
        <howVoted>FOR</howVoted>
        <sharesVoted>20000</sharesVoted>
        <managementRecommendation>FOR</managementRecommendation>
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    <issuerName>NVIDIA CORPORATION</issuerName>
    <cusip>67066G104</cusip>
    <meetingDate>06/24/2026</meetingDate>
    <voteDescription>Advisory approval of our executive compensation</voteDescription>
    <voteCategories>
      <voteCategory>
        <categoryType>SECTION 14A SAY-ON-PAY VOTES</categoryType>
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    </voteCategories>
    <sharesVoted>34000</sharesVoted>
    <sharesOnLoan>0</sharesOnLoan>
    <vote>
      <voteRecord>
        <howVoted>FOR</howVoted>
        <sharesVoted>34000</sharesVoted>
        <managementRecommendation>FOR</managementRecommendation>
      </voteRecord>
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