# EDGAR Filing Document

**Accession Number:** 0001716607
**File Stem:** 0001716607-26-000002
**Filing Date:** 2026-1
**Character Count:** 53134
**Document Hash:** 9efb0aa7f8d8dfb95bd21608d73126f4
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001716607-26-000002.hdr.sgml**: 20260105

**ACCESSION NUMBER**: 0001716607-26-000002

**CONFORMED SUBMISSION TYPE**: 13F-HR

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260105

**DATE AS OF CHANGE**: 20260105

**EFFECTIVENESS DATE**: 20260105

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Union Bancaire Privee, UBP SA
- **CENTRAL INDEX KEY:** 0001716607

**ORGANIZATION NAME:**
- **EIN:** 980236812
- **STATE OF INCORPORATION:** V8
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-24583
- **FILM NUMBER:** 26504435

**BUSINESS ADDRESS:**
- **STREET 1:** RUE DU RHONE 96-98
- **CITY:** GENEVA 1
- **STATE:** V8
- **ZIP:** 1211
- **BUSINESS PHONE:** 0041588192614

**MAIL ADDRESS:**
- **STREET 1:** RUE DU RHONE 96-98
- **CITY:** GENEVA 1
- **STATE:** V8
- **ZIP:** 1211

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 12-31-2025

**Check here if Amendment** [ ] **Amendment Number:** 

**This Amendment (Check only one.):** [ ] is a restatement.

[ ] adds new holdings entries.

**Institutional Investment Manager Filing this Report:**

**Name:** Union Bancaire Privee UBP SA<br>**Address:** RUE DU RHONE 96-98<br>GENEVA 1, V8 1211

**Form 13F File Number:** 028-24583

The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form.

**Person Signing this Report on Behalf of Reporting Manager:**

**Name:** Miguel Barcos<br>**Title:** Compliance Officer<br>**Phone:** 41588193264

**Signature, Place, and Date of Signing:**

Miguel Barcos  Geneva, V8  01-05-2026<br>[Signature]  [City, State]  [Date]

**Report Type (Check only one.):**

[x] **13F HOLDINGS REPORT.** (Check here if all holdings of this reporting manager are reported in this report.)

[ ] **13F NOTICE.** (Check here if no holdings are reported in this report, and all holdings are reported by other reporting manager(s).)

[ ] **13F COMBINATION REPORT.** (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).)

### Form 13F Summary Page

**Report Summary:**

**Number of Other Included Managers:** 0

**Form 13F Information Table Entry Total:** 503

**Form 13F Information Table Value Total:** $8422612960

      (round to nearest dollar)

**List of Other Included Managers:**

Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report.

[If there are no entries in this list, state “NONE” and omit the column headings and list entries.]

**NONE**

### FORM 13F INFORMATION TABLE

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | VOTING AUTHORITY | VOTING AUTHORITY | VOTING AUTHORITY |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | SOLE | SHARED | NONE |
| ABBOTT LABS | COM | 002824100 |  | 28666533 | 192417 | SH |  | DFND |  | 181473 | 0 | 10944 |
| ABBVIE INC | COM | 00287Y109 |  | 95347866 | 443006 | SH |  | DFND |  | 215893 | 0 | 227113 |
| ABERCROMBIE  FITCH CO | CL A | 002896207 |  | 90873 | 766 | SH |  | DFND |  | 255 | 0 | 511 |
| ABIVAX SA | SPONSORED ADS | 00370M103 |  | 54710 | 500 | SH |  | DFND |  | 500 | 0 | 0 |
| ADOBE INC | COM | 00724F101 |  | 7525017 | 12010 | SH |  | DFND |  | 10495 | 0 | 1515 |
| ADVANCED DRAIN SYS INC DEL | COM | 00790R104 |  | 3109080 | 20907 | SH |  | DFND |  | 0 | 0 | 20907 |
| ADVANCED ENERGY INDS | NOTE  2.500% 9/1 | 007973AE0 |  | 2438905 | 1695000 | PRN |  | DFND |  | 0 | 0 | 1695000 |
| ADVANCED MICRO DEVICES INC | COM | 007903107 |  | 19516429 | 105988 | SH |  | DFND |  | 83117 | 0 | 22871 |
| AECOM | COM | 00766T100 |  | 917920 | 10736 | SH |  | DFND |  | 5368 | 0 | 5368 |
| AES CORP | COM | 00130H105 |  | 1731156 | 137682 | SH |  | DFND |  | 71996 | 0 | 65686 |
| AFLAC INC | COM | 001055102 |  | 14564054 | 132540 | SH |  | DFND |  | 130740 | 0 | 1800 |
| AGCO CORP | COM | 001084102 |  | 907480 | 8694 | SH |  | DFND |  | 0 | 0 | 8694 |
| AGNICO EAGLE MINES LTD | COM | 008474108 |  | 899470 | 5958 | SH |  | DFND |  | 2979 | 0 | 2979 |
| AIRBNB INC | COM CL A | 009066101 |  | 9548 | 82 | SH |  | DFND |  | 82 | 0 | 0 |
| ALBEMARLE CORP | 7.25% DEP SHS A | 012653200 |  | 1396571 | 27500 | SH |  | DFND |  | 0 | 0 | 27500 |
| ALBEMARLE CORP | COM | 012653101 |  | 71005 | 500 | SH |  | DFND |  | 500 | 0 | 0 |
| ALIBABA GROUP HLDG LTD | SPONSORED ADS | 01609W102 |  | 32427084 | 235495 | SH |  | DFND |  | 206187 | 0 | 29308 |
| ALIGN TECHNOLOGY INC | COM | 016255101 |  | 7116 | 45 | SH |  | DFND |  | 45 | 0 | 0 |
| ALLIANT ENERGY CORP | COM | 018802108 |  | 822178 | 14282 | SH |  | DFND |  | 7141 | 0 | 7141 |
| ALNYLAM PHARMACEUTICALS INC | NOTE  1.000% 9/1 | 02043QAB3 |  | 2488619 | 1980000 | PRN |  | DFND |  | 0 | 0 | 1980000 |
| ALPHABET INC | CAP STK CL A | 02079K305 |  | 290773108 | 1237301 | SH |  | DFND |  | 1060132 | 0 | 177169 |
| ALPHABET INC | CAP STK CL C | 02079K107 |  | 175440438 | 620461 | SH |  | DFND |  | 338446 | 0 | 282015 |
| ALTO INGREDIENTS INC | COM | 021513106 |  | 12 | 5 | SH |  | DFND |  | 5 | 0 | 0 |
| AMAZON COM INC | COM | 023135106 |  | 305486372 | 1484586 | SH |  | DFND |  | 1086729 | 0 | 397857 |
| AMERICAN ELEC PWR CO INC | COM | 025537101 |  | 2306350 | 22275 | SH |  | DFND |  | 12353 | 0 | 9922 |
| AMERICAN EXPRESS CO | COM | 025816109 |  | 1218430 | 4129 | SH |  | DFND |  | 4129 | 0 | 0 |
| AMERICAN TOWER CORP NEW | COM | 03027X100 |  | 347934 | 10511 | SH |  | DFND |  | 2285 | 0 | 8226 |
| AMERICAN WELL CORP | COM CL A NEW | 03044L204 |  | 240 | 50 | SH |  | DFND |  | 50 | 0 | 0 |
| AMGEN INC | COM | 031162100 |  | 12249184 | 5550 | SH |  | DFND |  | 5550 | 0 | 0 |
| AMPHENOL CORP NEW | CL A | 032095101 |  | 5319158 | 49376 | SH |  | DFND |  | 49376 | 0 | 0 |
| AMPLIFY ETF TR | AMPLIFY CYBERSEC | 032108664 |  | 461808 | 5681 | SH |  | DFND |  | 5681 | 0 | 0 |
| AMPLIFY ETF TR | AMPLIFY MOBILE P | 032108656 |  | 50581 | 964 | SH |  | DFND |  | 964 | 0 | 0 |
| ANALOG DEVICES INC | COM | 032654105 |  | 3719521 | 13859 | SH |  | DFND |  | 12284 | 0 | 1575 |
| API GROUP CORP | COM STK | 00187Y100 |  | 2900894 | 86203 | SH |  | DFND |  | 86203 | 0 | 0 |
| APPLE HOSPITALITY REIT INC | COM NEW | 03784Y200 |  | 12 | 100 | SH |  | DFND |  | 0 | 0 | 100 |
| APPLE INC | COM | 037833100 |  | 310849005 | 1158690 | SH |  | DFND |  | 970679 | 0 | 188011 |
| APPLIED MATLS INC | COM | 038222105 |  | 156204957 | 156872 | SH |  | DFND |  | 140795 | 0 | 16077 |
| APPLOVIN CORP | COM CL A | 03831W108 |  | 5407898 | 9856 | SH |  | DFND |  | 9856 | 0 | 0 |
| ARES CAPITAL CORP | COM | 04010L103 |  | 131543 | 112977 | SH |  | DFND |  | 7100 | 0 | 105877 |
| ARK 21SHARES BITCOIN ETF | SHS BEN INT | 040919102 |  | 637494 | 27024 | SH |  | DFND |  | 27024 | 0 | 0 |
| ARK ETF TR | GENOMIC REV ETF | 00214Q302 |  | 55457 | 1910 | SH |  | DFND |  | 1910 | 0 | 0 |
| ARM HOLDINGS PLC | SPONSORED ADS | 042068205 |  | 370827 | 3345 | SH |  | DFND |  | 3345 | 0 | 0 |
| ARRAY TECHNOLOGIES INC | COM SHS | 04271T100 |  | 446914 | 52194 | SH |  | DFND |  | 26097 | 0 | 26097 |
| ASCENDIS PHARMA A/S | NOTE  2.250% 4/0 | 04351PAD3 |  | 622590 | 520000 | PRN |  | DFND |  | 0 | 0 | 520000 |
| AT INC | COM | 00206R102 |  | 2405093 | 74169 | SH |  | DFND |  | 74169 | 0 | 0 |
| ATLASSIAN CORPORATION | CL A | 049468101 |  | 8147 | 50 | SH |  | DFND |  | 50 | 0 | 0 |
| AURINIA PHARMACEUTICALS INC | COM | 05156V102 |  | 162667 | 13000 | SH |  | DFND |  | 13000 | 0 | 0 |
| AUTODESK INC | COM | 052769106 |  | 13384398 | 30264 | SH |  | DFND |  | 15103 | 0 | 15161 |
| AUTOMATIC DATA PROCESSING IN | COM | 053015103 |  | 52005 | 270 | SH |  | DFND |  | 270 | 0 | 0 |
| AUTOZONE INC | COM | 053332102 |  | 57270822 | 17172 | SH |  | DFND |  | 7606 | 0 | 9566 |
| AXON ENTERPRISE INC | COM | 05464C101 |  | 649033 | 1397 | SH |  | DFND |  | 984 | 0 | 413 |
| BADGER METER INC | COM | 056525108 |  | 1424260 | 7924 | SH |  | DFND |  | 0 | 0 | 7924 |
| BAIDU INC | SPON ADR REP A | 056752108 |  | 2027850 | 17518 | SH |  | DFND |  | 8759 | 0 | 8759 |
| BALL CORP | COM | 058498106 |  | 1075055 | 20223 | SH |  | DFND |  | 0 | 0 | 20223 |
| BANK AMERICA CORP | 7.25%CNV PFD L | 060505682 |  | 1506652 | 1415 | SH |  | DFND |  | 0 | 0 | 1415 |
| BANK AMERICA CORP | COM | 060505104 |  | 16619271 | 322150 | SH |  | DFND |  | 279550 | 0 | 42600 |
| BANK MONTREAL QUE | COM | 063671101 |  | 1954820 | 14862 | SH |  | DFND |  | 0 | 0 | 14862 |
| BANK NEW YORK MELLON CORP | COM | 064058100 |  | 3964040 | 42883 | SH |  | DFND |  | 42883 | 0 | 0 |
| BECTON DICKINSON  CO | COM | 075887109 |  | 41961 | 289 | SH |  | DFND |  | 289 | 0 | 0 |
| BERKSHIRE HATHAWAY INC DEL | CL A | 084670108 |  | 755400 | 1 | SH |  | DFND |  | 1 | 0 | 0 |
| BERKSHIRE HATHAWAY INC DEL | CL B NEW | 084670702 |  | 48544112 | 99423 | SH |  | DFND |  | 94634 | 0 | 4789 |
| BJS WHSL CLUB HLDGS INC | COM | 05550J101 |  | 1100018 | 12026 | SH |  | DFND |  | 0 | 0 | 12026 |
| BLACKROCK ETF TRUST II | AAA CLO ETF | 092528504 |  | 497480 | 9615 | SH |  | DFND |  | 9615 | 0 | 0 |
| BLACKSTONE INC | COM | 09260D107 |  | 2387489 | 11179 | SH |  | DFND |  | 11179 | 0 | 0 |
| BLACKSTONE MTG TR INC | COM CL A | 09257W100 |  | 84027 | 5000 | SH |  | DFND |  | 5000 | 0 | 0 |
| BLACKSTONE SECD LENDING FD | COMMON STOCK | 09261X102 |  | 27 | 31996 | SH |  | DFND |  | 0 | 0 | 31996 |
| BLOOM ENERGY CORP | COM CL A | 093712107 |  | 3380904 | 48622 | SH |  | DFND |  | 47133 | 0 | 1489 |
| BLUE OWL CAPITAL CORPORATION | COM | 69121K104 |  | 13 | 52715 | SH |  | DFND |  | 0 | 0 | 52715 |
| BOOKING HOLDINGS INC | COM | 09857L108 |  | 32616210 | 7046 | SH |  | DFND |  | 5136 | 0 | 1910 |
| BOOT BARN HLDGS INC | COM | 099406100 |  | 593114 | 3325 | SH |  | DFND |  | 0 | 0 | 3325 |
| BOOZ ALLEN HAMILTON HLDG COR | CL A | 099502106 |  | 890035 | 12932 | SH |  | DFND |  | 9109 | 0 | 3823 |
| BOSTON SCIENTIFIC CORP | COM | 101137107 |  | 23417216 | 248497 | SH |  | DFND |  | 214010 | 0 | 34487 |
| BP PLC | SPONSORED ADR | 055622104 |  | 103002 | 3000 | SH |  | DFND |  | 3000 | 0 | 0 |
| BRIDGEBIO PHARMA INC | NOTE  2.500% 3/1 | 10806XAB8 |  | 1755466 | 1105000 | PRN |  | DFND |  | 0 | 0 | 1105000 |
| BRISTOL-MYERS SQUIBB CO | COM | 110122108 |  | 25690338 | 506020 | SH |  | DFND |  | 459564 | 0 | 46456 |
| BROADCOM INC | COM | 11135F101 |  | 239342268 | 680944 | SH |  | DFND |  | 501014 | 0 | 179930 |
| BROADRIDGE FINL SOLUTIONS IN | COM | 11133T103 |  | 803106 | 3532 | SH |  | DFND |  | 0 | 0 | 3532 |
| BROOKFIELD ASSET MANAGMT LTD | CL A LMT VTG SHS | 113004105 |  | 442174 | 10608 | SH |  | DFND |  | 10608 | 0 | 0 |
| BROOKFIELD CORP | CL A LTD VT SH | 11271J107 |  | 120467 | 3060 | SH |  | DFND |  | 3060 | 0 | 0 |
| CACI INTL INC | CL A | 127190304 |  | 1359783 | 3120 | SH |  | DFND |  | 2198 | 0 | 922 |
| CADENCE DESIGN SYSTEM INC | COM | 127387108 |  | 13034948 | 50445 | SH |  | DFND |  | 33926 | 0 | 16519 |
| CAMECO CORP | COM | 13321L108 |  | 2079105 | 25591 | SH |  | DFND |  | 12932 | 0 | 12659 |
| CANADIAN NATL RY CO | COM | 136375102 |  | 9496342 | 46312 | SH |  | DFND |  | 38564 | 0 | 7748 |
| CANADIAN PACIFIC KANSAS CITY | COM | 13646K108 |  | 1277216 | 19878 | SH |  | DFND |  | 19878 | 0 | 0 |
| CAPITAL SOUTHWEST CORP | COM | 140501107 |  | 24800861 | 7265 | SH |  | DFND |  | 0 | 0 | 7265 |
| CARISMA THERAPEUTICS INC | COM | 14216R101 |  | 28 | 785 | SH |  | DFND |  | 785 | 0 | 0 |
| CARPENTER TECHNOLOGY CORP | COM | 144285103 |  | 4971904 | 19730 | SH |  | DFND |  | 19730 | 0 | 0 |
| CARRIER GLOBAL CORPORATION | COM | 14448C104 |  | 27249 | 510 | SH |  | DFND |  | 510 | 0 | 0 |
| CATERPILLAR INC | COM | 149123101 |  | 27015706 | 52626 | SH |  | DFND |  | 41570 | 0 | 11056 |
| CBRE GROUP INC | CL A | 12504L109 |  | 163 | 57500 | SH |  | DFND |  | 0 | 0 | 57500 |
| CELESTICA INC | COM | 15101Q207 |  | 15928306 | 61574 | SH |  | DFND |  | 61233 | 0 | 341 |
| CENCORA INC | COM | 03073E105 |  | 810135 | 2381 | SH |  | DFND |  | 0 | 0 | 2381 |
| CENTENE CORP DEL | COM | 15135B101 |  | 37089 | 900 | SH |  | DFND |  | 900 | 0 | 0 |
| CENTERPOINT ENERGY INC | NOTE  4.250% 8/1 | 15189TBD8 |  | 1385319 | 1465000 | PRN |  | DFND |  | 0 | 0 | 1465000 |
| CGI INC | CL A SUB VTG | 12532H104 |  | 879719 | 9356 | SH |  | DFND |  | 0 | 0 | 9356 |
| CHENIERE ENERGY INC | COM NEW | 16411R208 |  | 2129878 | 11355 | SH |  | DFND |  | 10337 | 0 | 1018 |
| CHESAPEAKE ENERGY CORP | COM | 165167735 |  | 3586672 | 28930 | SH |  | DFND |  | 19979 | 0 | 8951 |
| CHEVRON CORP NEW | COM | 166764100 |  | 35850688 | 238487 | SH |  | DFND |  | 231774 | 0 | 6713 |
| CHEWY INC | CL A | 16679L109 |  | 32850 | 1000 | SH |  | DFND |  | 1000 | 0 | 0 |
| CHIPOTLE MEXICAN GRILL INC | COM | 169656105 |  | 161033 | 5190 | SH |  | DFND |  | 5190 | 0 | 0 |
| CINTAS CORP | COM | 172908105 |  | 15736359 | 89063 | SH |  | DFND |  | 80207 | 0 | 8856 |
| CISCO SYS INC | COM | 17275R102 |  | 59573254 | 701136 | SH |  | DFND |  | 228658 | 0 | 472478 |
| CITIGROUP INC | COM NEW | 172967424 |  | 11446366 | 102836 | SH |  | DFND |  | 97099 | 0 | 5737 |
| CLEAN HARBORS INC | COM | 184496107 |  | 3636059 | 15137 | SH |  | DFND |  | 0 | 0 | 15137 |
| CLOUDFLARE INC | CL A COM | 18915M107 |  | 15080023 | 83641 | SH |  | DFND |  | 82249 | 0 | 1392 |
| CME GROUP INC | COM | 12572Q105 |  | 3312705 | 13486 | SH |  | DFND |  | 13486 | 0 | 0 |
| CMS ENERGY CORP | NOTE  3.375% 5/0 | 125896BX7 |  | 162282 | 151000 | PRN |  | DFND |  | 0 | 0 | 151000 |
| COCA COLA CO | COM | 191216100 |  | 42606400 | 505529 | SH |  | DFND |  | 485604 | 0 | 19925 |
| COCA COLA CONS INC | COM | 191098102 |  | 120 | 700 | SH |  | DFND |  | 0 | 0 | 700 |
| CODA OCTOPUS GROUP INC | COM NEW | 19188U206 |  | 44 | 6 | SH |  | DFND |  | 6 | 0 | 0 |
| COHERENT CORP | COM | 19247G107 |  | 6885506 | 46600 | SH |  | DFND |  | 46600 | 0 | 0 |
| COINBASE GLOBAL INC | COM CL A | 19260Q107 |  | 2396552 | 13158 | SH |  | DFND |  | 13158 | 0 | 0 |
| COLGATE PALMOLIVE CO | COM | 194162103 |  | 304256 | 4814 | SH |  | DFND |  | 3834 | 0 | 980 |
| COMCAST CORP NEW | CL A | 20030N101 |  | 53011 | 1932 | SH |  | DFND |  | 1932 | 0 | 0 |
| COMFORT SYS USA INC | COM | 199908104 |  | 2254417 | 3010 | SH |  | DFND |  | 3010 | 0 | 0 |
| CONSTELLATION ENERGY CORP | COM | 21037T109 |  | 14394379 | 47293 | SH |  | DFND |  | 41891 | 0 | 5402 |
| COPART INC | COM | 217204106 |  | 1052132 | 26643 | SH |  | DFND |  | 0 | 0 | 26643 |
| CORE  MAIN INC | CL A | 21874C102 |  | 887768 | 16532 | SH |  | DFND |  | 0 | 0 | 16532 |
| CORNING INC | COM | 219350105 |  | 4604161 | 65508 | SH |  | DFND |  | 65508 | 0 | 0 |
| COSTCO WHSL CORP NEW | COM | 22160K105 |  | 39541144 | 39549 | SH |  | DFND |  | 36054 | 0 | 3495 |
| COTERRA ENERGY INC | COM | 127097103 |  | 9243 | 348 | SH |  | DFND |  | 348 | 0 | 0 |
| COUPANG INC | CL A | 22266T109 |  | 10261 | 500 | SH |  | DFND |  | 500 | 0 | 0 |
| CROWDSTRIKE HLDGS INC | CL A | 22788C105 |  | 3876779 | 9216 | SH |  | DFND |  | 9216 | 0 | 0 |
| CROWN HLDGS INC | COM | 228368106 |  | 1934730 | 18648 | SH |  | DFND |  | 0 | 0 | 18648 |
| CSX CORP | COM | 126408103 |  | 1725258 | 54740 | SH |  | DFND |  | 54740 | 0 | 0 |
| CUMMINS INC | COM | 231021106 |  | 15949433 | 20599 | SH |  | DFND |  | 18736 | 0 | 1863 |
| CVS HEALTH CORP | COM | 126650100 |  | 17008 | 213 | SH |  | DFND |  | 213 | 0 | 0 |
| D R HORTON INC | COM | 23331A109 |  | 97097 | 866 | SH |  | DFND |  | 866 | 0 | 0 |
| DANAHER CORPORATION | COM | 235851102 |  | 13928527 | 65662 | SH |  | DFND |  | 59822 | 0 | 5840 |
| DARLING INGREDIENTS INC | COM | 237266101 |  | 730519 | 20457 | SH |  | DFND |  | 0 | 0 | 20457 |
| DATADOG INC | CL A COM | 23804L103 |  | 6192950 | 50598 | SH |  | DFND |  | 50598 | 0 | 0 |
| DECKERS OUTDOOR CORP | COM | 243537107 |  | 207479 | 2363 | SH |  | DFND |  | 2363 | 0 | 0 |
| DEERE  CO | COM | 244199105 |  | 3608694 | 7973 | SH |  | DFND |  | 2212 | 0 | 5761 |
| DELL TECHNOLOGIES INC | CL C | 24703L202 |  | 8761024 | 86926 | SH |  | DFND |  | 57502 | 0 | 29424 |
| DEXCOM INC | COM | 252131107 |  | 2242654 | 21266 | SH |  | DFND |  | 8190 | 0 | 13076 |
| DIGITAL RLTY TR INC | COM | 253868103 |  | 429634 | 3250 | SH |  | DFND |  | 3250 | 0 | 0 |
| DISNEY WALT CO | COM | 254687106 |  | 10414537 | 92100 | SH |  | DFND |  | 92100 | 0 | 0 |
| DOCUSIGN INC | COM | 256163106 |  | 110824 | 1710 | SH |  | DFND |  | 1710 | 0 | 0 |
| DOLLAR TREE INC | COM | 256746108 |  | 4563324 | 46520 | SH |  | DFND |  | 46520 | 0 | 0 |
| DOMINOS PIZZA INC | COM | 25754A201 |  | 582672 | 1381 | SH |  | DFND |  | 1381 | 0 | 0 |
| DROPBOX INC | NOTE         3/0 | 26210CAD6 |  | 1057917 | 1228000 | PRN |  | DFND |  | 0 | 0 | 1228000 |
| DSS INC | COM NEW | 26253C201 |  | 1 | 1 | SH |  | DFND |  | 1 | 0 | 0 |
| DUKE ENERGY CORP NEW | COM NEW | 26441C204 |  | 4827948 | 38299 | SH |  | DFND |  | 29121 | 0 | 9178 |
| DUKE ENERGY CORP NEW | NOTE  4.125% 4/1 | 26441CBY0 |  | 258339 | 248000 | PRN |  | DFND |  | 0 | 0 | 248000 |
| DUPONT DE NEMOURS INC | COM | 26614N102 |  | 74384 | 2150 | SH |  | DFND |  | 2150 | 0 | 0 |
| DYCOM INDS INC | COM | 267475101 |  | 888753 | 2942 | SH |  | DFND |  | 1471 | 0 | 1471 |
| ECOLAB INC | COM | 278865100 |  | 42956165 | 169390 | SH |  | DFND |  | 36538 | 0 | 132852 |
| ELI LILLY  CO | COM | 532457108 |  | 92476612 | 84298 | SH |  | DFND |  | 64915 | 0 | 19383 |
| EMBRAER S.A. | SPONSORED ADS | 29082A107 |  | 23023514 | 376469 | SH |  | DFND |  | 344389 | 0 | 32080 |
| EMERSON ELEC CO | COM | 291011104 |  | 813419 | 6980 | SH |  | DFND |  | 6980 | 0 | 0 |
| ENTERGY CORP NEW | COM | 29364G103 |  | 20641949 | 221865 | SH |  | DFND |  | 193799 | 0 | 28066 |
| EOG RES INC | COM | 26875P101 |  | 20287 | 192 | SH |  | DFND |  | 192 | 0 | 0 |
| EQT CORP | COM | 26884L109 |  | 25908362 | 492337 | SH |  | DFND |  | 413943 | 0 | 78394 |
| EQUINIX INC | COM | 29444U700 |  | 8476612 | 13425 | SH |  | DFND |  | 8161 | 0 | 5264 |
| EQUINOR ASA | SPONSORED ADR | 29446M102 |  | 102363 | 5100 | SH |  | DFND |  | 5100 | 0 | 0 |
| EQUITABLE HLDGS INC | COM | 29452E101 |  | 236903 | 5760 | SH |  | DFND |  | 3260 | 0 | 2500 |
| ETSY INC | NOTE  0.250% 6/1 | 29786AAN6 |  | 852873 | 958000 | PRN |  | DFND |  | 0 | 0 | 958000 |
| EXELON CORP | COM | 30161N101 |  | 858686 | 22316 | SH |  | DFND |  | 11158 | 0 | 11158 |
| EXXON MOBIL CORP | COM | 30231G102 |  | 14836340 | 126750 | SH |  | DFND |  | 122170 | 0 | 4580 |
| FAIR ISAAC CORP | COM | 303250104 |  | 440114 | 300 | SH |  | DFND |  | 160 | 0 | 140 |
| FASTENAL CO | COM | 311900104 |  | 18040444 | 468327 | SH |  | DFND |  | 429949 | 0 | 38378 |
| FEDEX CORP | COM | 31428X106 |  | 54458 | 220 | SH |  | DFND |  | 220 | 0 | 0 |
| FERGUSON ENTERPRISES INC | COMMON STOCK NEW | 31488V107 |  | 1405439 | 7925 | SH |  | DFND |  | 7925 | 0 | 0 |
| FIDELITY ETHEREUM FD | SHS | 31613E103 |  | 682751 | 29271 | SH |  | DFND |  | 29271 | 0 | 0 |
| FIDELITY NATL INFORMATION SV | COM | 31620M106 |  | 11865270 | 190738 | SH |  | DFND |  | 170598 | 0 | 20140 |
| FIDELITY WISE ORIGIN BITCOIN | SHS | 315948109 |  | 465579 | 7690 | SH |  | DFND |  | 7690 | 0 | 0 |
| FIRST SOLAR INC | COM | 336433107 |  | 8882339 | 38532 | SH |  | DFND |  | 29369 | 0 | 9163 |
| FIRST TR EXCHANGE-TRADED FD | DJ INTERNT IDX | 33733E302 |  | 2633476 | 10010 | SH |  | DFND |  | 10010 | 0 | 0 |
| FIRSTENERGY CORP | NOTE  4.000% 5/0 | 337932AR8 |  | 258579 | 251000 | PRN |  | DFND |  | 0 | 0 | 251000 |
| FISERV INC | COM | 337738108 |  | 9523 | 141 | SH |  | DFND |  | 141 | 0 | 0 |
| FLUENCE ENERGY INC | COM CL A | 34379V103 |  | 635785 | 36262 | SH |  | DFND |  | 18131 | 0 | 18131 |
| FMC CORP | COM NEW | 302491303 |  | 1971 | 141 | SH |  | DFND |  | 141 | 0 | 0 |
| FORTINET INC | COM | 34959E109 |  | 13597099 | 176572 | SH |  | DFND |  | 148164 | 0 | 28408 |
| FORTIVE CORP | COM | 34959J108 |  | 1385511 | 28678 | SH |  | DFND |  | 28678 | 0 | 0 |
| FORTUNE BRANDS INNOVATIONS I | COM | 34964C106 |  | 883106 | 17326 | SH |  | DFND |  | 0 | 0 | 17326 |
| FREEPORT-MCMORAN INC | CL B | 35671D857 |  | 3531761 | 72152 | SH |  | DFND |  | 57546 | 0 | 14606 |
| FS KKR CAP CORP | COM | 302635206 |  | 15 | 50704 | SH |  | DFND |  | 0 | 0 | 50704 |
| FULL TRUCK ALLIANCE CO LTD | SPONSORED ADS | 35969L108 |  | 1929991 | 196686 | SH |  | DFND |  | 98343 | 0 | 98343 |
| FURY GOLD MINES LIMITED | COM | 36117T100 |  | 0 | 1 | SH |  | DFND |  | 1 | 0 | 0 |
| GE AEROSPACE | COM NEW | 369604301 |  | 12571860 | 35208 | SH |  | DFND |  | 30385 | 0 | 4823 |
| GE VERNOVA INC | COM | 36828A101 |  | 8177381 | 14940 | SH |  | DFND |  | 11845 | 0 | 3095 |
| GENERAC HLDGS INC | COM | 368736104 |  | 1656269 | 13604 | SH |  | DFND |  | 6802 | 0 | 6802 |
| GENERAL MTRS CO | COM | 37045V100 |  | 803854 | 10460 | SH |  | DFND |  | 10460 | 0 | 0 |
| GILEAD SCIENCES INC | COM | 375558103 |  | 1423645 | 14129 | SH |  | DFND |  | 7483 | 0 | 6646 |
| GLADSTONE INVT CORP | COM | 376546107 |  | 32959392 | 15393 | SH |  | DFND |  | 0 | 0 | 15393 |
| GLOBAL X FDS | GLOBAL X URANIUM | 37954Y871 |  | 5237800 | 154687 | SH |  | DFND |  | 154687 | 0 | 0 |
| GOLDEN MINERALS CO | COM | 381119403 |  | 2 | 7 | SH |  | DFND |  | 7 | 0 | 0 |
| GOLDMAN SACHS BDC INC | SHS | 38147U107 |  | 23945419 | 16011 | SH |  | DFND |  | 0 | 0 | 16011 |
| GOLDMAN SACHS GROUP INC | COM | 38141G104 |  | 71914593 | 85934 | SH |  | DFND |  | 35741 | 0 | 50193 |
| GOLUB CAP BDC INC | COM | 38173M102 |  | 55967960 | 26584 | SH |  | DFND |  | 0 | 0 | 26584 |
| GRAINGER W W INC | COM | 384802104 |  | 1932988 | 2176 | SH |  | DFND |  | 1392 | 0 | 784 |
| GRAYSCALE ETHEREUM TR ETH | SHS | 389638107 |  | 57565 | 3000 | SH |  | DFND |  | 3000 | 0 | 0 |
| GSK PLC | SPONSORED ADR | 37733W204 |  | 8385 | 200 | SH |  | DFND |  | 200 | 0 | 0 |
| H WORLD GROUP LTD | NOTE  3.000% 5/0 | 44332NAB2 |  | 66972 | 60000 | PRN |  | DFND |  | 0 | 0 | 60000 |
| HA SUSTAINABLE INFRA CAP INC | COM | 41068X100 |  | 2785891 | 98296 | SH |  | DFND |  | 49148 | 0 | 49148 |
| HALEON PLC | SPON ADS | 405552100 |  | 2143 | 250 | SH |  | DFND |  | 250 | 0 | 0 |
| HALOZYME THERAPEUTICS INC | NOTE  1.000% 8/1 | 40637HAF6 |  | 5435478 | 4765000 | PRN |  | DFND |  | 0 | 0 | 4765000 |
| HCA HEALTHCARE INC | COM | 40412C101 |  | 235074 | 539 | SH |  | DFND |  | 539 | 0 | 0 |
| HDFC BANK LTD | SPONSORED ADS | 40415F101 |  | 1477893 | 40652 | SH |  | DFND |  | 40652 | 0 | 0 |
| HEICO CORP NEW | COM | 422806109 |  | 1241410 | 4674 | SH |  | DFND |  | 3292 | 0 | 1382 |
| HERCULES CAPITAL INC | COM | 427096508 |  | 81225597 | 27808 | SH |  | DFND |  | 0 | 0 | 27808 |
| HOLOGIC INC | COM | 436440101 |  | 11703 | 157 | SH |  | DFND |  | 157 | 0 | 0 |
| HOME DEPOT INC | COM | 437076102 |  | 40286488 | 117703 | SH |  | DFND |  | 107436 | 0 | 10267 |
| HONEYWELL INTL INC | COM | 438516106 |  | 30217788 | 134883 | SH |  | DFND |  | 127685 | 0 | 7198 |
| HORMEL FOODS CORP | COM | 440452100 |  | 19 | 1000 | SH |  | DFND |  | 0 | 0 | 1000 |
| HOULIHAN LOKEY INC | CL A | 441593100 |  | 918459 | 5175 | SH |  | DFND |  | 0 | 0 | 5175 |
| HUBBELL INC | COM | 443510607 |  | 1658858 | 3675 | SH |  | DFND |  | 0 | 0 | 3675 |
| HUBSPOT INC | COM | 443573100 |  | 816712 | 2045 | SH |  | DFND |  | 0 | 0 | 2045 |
| HUMANA INC | COM | 444859102 |  | 517445 | 2560 | SH |  | DFND |  | 2560 | 0 | 0 |
| HUNTINGTON INGALLS INDS INC | COM | 446413106 |  | 4714148 | 16995 | SH |  | DFND |  | 11971 | 0 | 5024 |
| ICICI BANK LIMITED | ADR | 45104G104 |  | 1109942 | 37184 | SH |  | DFND |  | 37184 | 0 | 0 |
| INFOSYS LTD | SPONSORED ADR | 456788108 |  | 2517244 | 151767 | SH |  | DFND |  | 86515 | 0 | 65252 |
| INMUNE BIO INC | COM | 45782T105 |  | 1361 | 1000 | SH |  | DFND |  | 1000 | 0 | 0 |
| INTERACTIVE BROKERS GROUP IN | COM CL A | 45841N107 |  | 4559717 | 88690 | SH |  | DFND |  | 88690 | 0 | 0 |
| INTERDIGITAL INC | NOTE  3.500% 6/0 | 45867GAD3 |  | 2555861 | 700000 | PRN |  | DFND |  | 0 | 0 | 700000 |
| INTERNATIONAL BUSINESS MACHS | COM | 459200101 |  | 19090141 | 62497 | SH |  | DFND |  | 53352 | 0 | 9145 |
| INTUIT | COM | 461202103 |  | 67870571 | 97733 | SH |  | DFND |  | 51809 | 0 | 45924 |
| INTUITIVE SURGICAL INC | COM NEW | 46120E602 |  | 14972982 | 25860 | SH |  | DFND |  | 18461 | 0 | 7399 |
| INVESCO EXCH TRADED FD TR II | CHINA TECHNLGY | 46138E800 |  | 340375 | 7648 | SH |  | DFND |  | 7648 | 0 | 0 |
| INVESCO EXCHANGE TRADED FD T | AEROSPACE DEFN | 46137V100 |  | 204835 | 1297 | SH |  | DFND |  | 1297 | 0 | 0 |
| INVESCO QQQ TR | UNIT SER 1 | 46090E103 |  | 15532395 | 25740 | SH |  | DFND |  | 25727 | 0 | 13 |
| IONIS PHARMACEUTICALS INC | NOTE  1.750% 6/1 | 462222AF7 |  | 1795411 | 1325000 | PRN |  | DFND |  | 0 | 0 | 1325000 |
| IQVIA HLDGS INC | COM | 46266C105 |  | 19126 | 84 | SH |  | DFND |  | 84 | 0 | 0 |
| ISHARES ETHEREUM TR | SHS | 46438R105 |  | 644484 | 36490 | SH |  | DFND |  | 36490 | 0 | 0 |
| ISHARES GOLD TR | ISHARES NEW | 464285204 |  | 404780 | 6675 | SH |  | DFND |  | 6675 | 0 | 0 |
| ISHARES INC | CORE MSCI EMKT | 46434G103 |  | 18226 | 318 | SH |  | DFND |  | 318 | 0 | 0 |
| ISHARES INC | JP MORGAN EM ETF | 464286517 |  | 1012069 | 24352 | SH |  | DFND |  | 24352 | 0 | 0 |
| ISHARES INC | MSCI AUST ETF | 464286103 |  | 471419 | 17850 | SH |  | DFND |  | 17850 | 0 | 0 |
| ISHARES INC | MSCI BRAZIL ETF | 464286400 |  | 562616 | 19488 | SH |  | DFND |  | 13317 | 0 | 6171 |
| ISHARES INC | MSCI EURZONE ETF | 464286608 |  | 230020 | 3770 | SH |  | DFND |  | 3770 | 0 | 0 |
| ISHARES INC | MSCI GBL ETF NEW | 46434G848 |  | 275905 | 5347 | SH |  | DFND |  | 5347 | 0 | 0 |
| ISHARES INC | MSCI JPN ETF NEW | 46434G822 |  | 2663750 | 33611 | SH |  | DFND |  | 33611 | 0 | 0 |
| ISHARES INC | MSCI STH KOR ETF | 464286772 |  | 3146613 | 32963 | SH |  | DFND |  | 32963 | 0 | 0 |
| ISHARES INC | MSCI WORLD ETF | 464286392 |  | 1006692 | 6167 | SH |  | DFND |  | 6167 | 0 | 0 |
| ISHARES INC | US INTL HGH YLD | 464286178 |  | 18612692 | 403186 | SH |  | DFND |  | 403186 | 0 | 0 |
| ISHARES SILVER TR | ISHARES | 46428Q109 |  | 8799129 | 156784 | SH |  | DFND |  | 156784 | 0 | 0 |
| ISHARES TR | 1 3 YR TREAS BD | 464287457 |  | 1868930 | 22558 | SH |  | DFND |  | 22558 | 0 | 0 |
| ISHARES TR | 20 YR TR BD ETF | 464287432 |  | 138986 | 2000 | SH |  | DFND |  | 2000 | 0 | 0 |
| ISHARES TR | 3 7 YR TREAS BD | 464288661 |  | 2705284 | 22627 | SH |  | DFND |  | 22627 | 0 | 0 |
| ISHARES TR | 7-10 YR TRSY BD | 464287440 |  | 1008891 | 10457 | SH |  | DFND |  | 10457 | 0 | 0 |
| ISHARES TR | ASIA 50 ETF | 464288430 |  | 132246 | 1350 | SH |  | DFND |  | 1350 | 0 | 0 |
| ISHARES TR | BROAD USD HIGH | 46435U853 |  | 1759210 | 47000 | SH |  | DFND |  | 47000 | 0 | 0 |
| ISHARES TR | CHINA LG-CAP ETF | 464287184 |  | 54528 | 1900 | SH |  | DFND |  | 1900 | 0 | 0 |
| ISHARES TR | CORE HIGH DV ETF | 46429B663 |  | 78927 | 870 | SH |  | DFND |  | 870 | 0 | 0 |
| ISHARES TR | CORE S ETF | 464287200 |  | 2005798 | 3697 | SH |  | DFND |  | 3540 | 0 | 157 |
| ISHARES TR | EXPANDED TECH | 464287515 |  | 54036 | 625 | SH |  | DFND |  | 625 | 0 | 0 |
| ISHARES TR | FLTG RATE NT ETF | 46429B655 |  | 273675 | 5651 | SH |  | DFND |  | 5651 | 0 | 0 |
| ISHARES TR | FUTURE AI  TECH | 46435U556 |  | 51451 | 1243 | SH |  | DFND |  | 1243 | 0 | 0 |
| ISHARES TR | GLOB HLTHCRE ETF | 464287325 |  | 199518 | 2188 | SH |  | DFND |  | 2188 | 0 | 0 |
| ISHARES TR | GLOBAL ENERG ETF | 464287341 |  | 549896 | 13497 | SH |  | DFND |  | 13497 | 0 | 0 |
| ISHARES TR | GLOBAL TECH ETF | 464287291 |  | 324121 | 4124 | SH |  | DFND |  | 4124 | 0 | 0 |
| ISHARES TR | HDG MSCI JAPAN | 46434V886 |  | 117601 | 3000 | SH |  | DFND |  | 3000 | 0 | 0 |
| ISHARES TR | IBOXX INV CP ETF | 464287242 |  | 3233355 | 29704 | SH |  | DFND |  | 29704 | 0 | 0 |
| ISHARES TR | ISHARES BIOTECH | 464287556 |  | 188928 | 1150 | SH |  | DFND |  | 1150 | 0 | 0 |
| ISHARES TR | ISHARES SEMICDTR | 464287523 |  | 944337 | 3097 | SH |  | DFND |  | 3097 | 0 | 0 |
| ISHARES TR | ISHS 1-5YR INVS | 464288646 |  | 5634924 | 108678 | SH |  | DFND |  | 108678 | 0 | 0 |
| ISHARES TR | ISHS 5-10YR INVT | 464288638 |  | 1365915 | 25276 | SH |  | DFND |  | 25276 | 0 | 0 |
| ISHARES TR | JPMORGAN USD EMG | 464288281 |  | 7379955 | 76500 | SH |  | DFND |  | 76500 | 0 | 0 |
| ISHARES TR | MSCI AC ASIA ETF | 464288182 |  | 1574773 | 16984 | SH |  | DFND |  | 16984 | 0 | 0 |
| ISHARES TR | MSCI ACWI ETF | 464288257 |  | 4500447 | 27473 | SH |  | DFND |  | 21161 | 0 | 6312 |
| ISHARES TR | MSCI CHINA ETF | 46429B671 |  | 166619 | 3579 | SH |  | DFND |  | 3579 | 0 | 0 |
| ISHARES TR | MSCI EMG MKT ETF | 464287234 |  | 900311 | 21217 | SH |  | DFND |  | 12909 | 0 | 8308 |
| ISHARES TR | MSCI INDIA ETF | 46429B598 |  | 1106115 | 89810 | SH |  | DFND |  | 23310 | 0 | 66500 |
| ISHARES TR | MSCI UK ETF NEW | 46435G334 |  | 22323263 | 506091 | SH |  | DFND |  | 505582 | 0 | 509 |
| ISHARES TR | MSCI USA QLT FCT | 46432F339 |  | 363018 | 1814 | SH |  | DFND |  | 1814 | 0 | 0 |
| ISHARES TR | RUSSELL 2000 ETF | 464287655 |  | 1949528 | 7949 | SH |  | DFND |  | 7949 | 0 | 0 |
| ISHARES TR | U.S. FIN SVC ETF | 464287770 |  | 278850 | 3000 | SH |  | DFND |  | 3000 | 0 | 0 |
| ISHARES TR | U.S. PHARMA ETF | 464288836 |  | 48037 | 660 | SH |  | DFND |  | 660 | 0 | 0 |
| ISHARES U S ETF TR | BLACKROCK SH DUR | 46431W507 |  | 14784415 | 289210 | SH |  | DFND |  | 289210 | 0 | 0 |
| ITAU UNIBANCO HLDG S A | SPON ADR REP PFD | 465562106 |  | 163152 | 22660 | SH |  | DFND |  | 22660 | 0 | 0 |
| ITRON INC | COM | 465741106 |  | 894437 | 10728 | SH |  | DFND |  | 5364 | 0 | 5364 |
| ITRON INC | NOTE         3/1 | 465741AN6 |  | 242098 | 246000 | PRN |  | DFND |  | 0 | 0 | 246000 |
| JACOBS SOLUTIONS INC | COM | 46982L108 |  | 1857057 | 15664 | SH |  | DFND |  | 7832 | 0 | 7832 |
| JANUS DETROIT STR TR | B-BBB CLO ETF | 47103U753 |  | 173003 | 4261 | SH |  | DFND |  | 4261 | 0 | 0 |
| JD.COM INC | SPON ADS CL A | 47215P106 |  | 28812 | 1180 | SH |  | DFND |  | 1180 | 0 | 0 |
| JOHNSON  JOHNSON | COM | 478160104 |  | 41633232 | 162650 | SH |  | DFND |  | 149963 | 0 | 12687 |
| JONES LANG LASALLE INC | COM | 48020Q107 |  | 339 | 20300 | SH |  | DFND |  | 0 | 0 | 20300 |
| JOYY INC | ADS REPSTG COM A | 46591M109 |  | 76668919 | 7500 | SH |  | DFND |  | 0 | 0 | 7500 |
| JPMORGAN CHASE  CO. | COM | 46625H100 |  | 196250328 | 643664 | SH |  | DFND |  | 439137 | 0 | 204527 |
| KANZHUN LIMITED | SPONSORED ADS | 48553T106 |  | 1925616 | 104186 | SH |  | DFND |  | 52093 | 0 | 52093 |
| KE HLDGS INC | SPONSORED ADS | 482497104 |  | 1947229 | 135986 | SH |  | DFND |  | 67993 | 0 | 67993 |
| KEYSIGHT TECHNOLOGIES INC | COM | 49338L103 |  | 1063120 | 5140 | SH |  | DFND |  | 106 | 0 | 5034 |
| KINROSS GOLD CORP | COM | 496902404 |  | 20470688 | 729400 | SH |  | DFND |  | 677398 | 0 | 52002 |
| KKR  CO INC | COM | 48251W104 |  | 458949 | 3906 | SH |  | DFND |  | 3906 | 0 | 0 |
| KLA CORP | COM NEW | 482480100 |  | 3887780 | 3864 | SH |  | DFND |  | 3550 | 0 | 314 |
| KROGER CO | COM | 501044101 |  | 110844 | 2385 | SH |  | DFND |  | 725 | 0 | 1660 |
| LANTHEUS HLDGS INC | NOTE  2.625%12/1 | 516544AB9 |  | 2911798 | 2970000 | PRN |  | DFND |  | 0 | 0 | 2970000 |
| LAUREATE EDUCATION INC | COMMON STOCK | 518613203 |  | 21600750 | 637943 | SH |  | DFND |  | 0 | 0 | 637943 |
| LEIDOS HOLDINGS INC | COM | 525327102 |  | 1378764 | 9269 | SH |  | DFND |  | 6529 | 0 | 2740 |
| LEMONADE INC | COM | 52567D107 |  | 125291 | 1745 | SH |  | DFND |  | 1745 | 0 | 0 |
| LEONARDO DRS INC | COM | 52661A108 |  | 915265 | 33205 | SH |  | DFND |  | 23391 | 0 | 9814 |
| LIVE NATION ENTERTAINMENT IN | NOTE  3.125% 1/1 | 538034BA6 |  | 6988098 | 5562000 | PRN |  | DFND |  | 0 | 0 | 5562000 |
| LOCKHEED MARTIN CORP | COM | 539830109 |  | 13664 | 28 | SH |  | DFND |  | 28 | 0 | 0 |
| LPL FINL HLDGS INC | COM | 50212V100 |  | 799524 | 2183 | SH |  | DFND |  | 0 | 0 | 2183 |
| LUMENTUM HLDGS INC | COM | 55024U109 |  | 7300881 | 24868 | SH |  | DFND |  | 24868 | 0 | 0 |
| LUMENTUM HLDGS INC | NOTE  1.500%12/1 | 55024UAH2 |  | 8851347 | 1938000 | PRN |  | DFND |  | 0 | 0 | 1938000 |
| MAIN STR CAP CORP | COM | 56035L104 |  | 60 | 12683 | SH |  | DFND |  | 0 | 0 | 12683 |
| MANHATTAN ASSOCIATES INC | COM | 562750109 |  | 723670 | 4105 | SH |  | DFND |  | 0 | 0 | 4105 |
| MANULIFE FINL CORP | COM | 56501R106 |  | 1772099 | 6237 | SH |  | DFND |  | 6237 | 0 | 0 |
| MARRIOTT INTL INC NEW | CL A | 571903202 |  | 4697909 | 19961 | SH |  | DFND |  | 10208 | 0 | 9753 |
| MARRIOTT VACATIONS WORLDWIDE | NOTE  3.250%12/1 | 57164YAF4 |  | 112670 | 118000 | PRN |  | DFND |  | 0 | 0 | 118000 |
| MARSH  MCLENNAN COS INC | COM | 571748102 |  | 8045541 | 25678 | SH |  | DFND |  | 22781 | 0 | 2897 |
| MARTIN MARIETTA MATLS INC | COM | 573284106 |  | 35991 | 57 | SH |  | DFND |  | 57 | 0 | 0 |
| MARVELL TECHNOLOGY INC | COM | 573874104 |  | 579068 | 6930 | SH |  | DFND |  | 1220 | 0 | 5710 |
| MASTEC INC | COM | 576323109 |  | 2741647 | 14046 | SH |  | DFND |  | 7023 | 0 | 7023 |
| MASTERCARD INCORPORATED | CL A | 57636Q104 |  | 75470458 | 117886 | SH |  | DFND |  | 100624 | 0 | 17262 |
| MCDONALDS CORP | COM | 580135101 |  | 38504042 | 126027 | SH |  | DFND |  | 46943 | 0 | 79084 |
| MCKESSON CORP | COM | 58155Q103 |  | 1859166 | 2308 | SH |  | DFND |  | 2081 | 0 | 227 |
| MERCADOLIBRE INC | COM | 58733R102 |  | 16918914 | 8473 | SH |  | DFND |  | 7982 | 0 | 491 |
| MERCK  CO INC | COM | 58933Y105 |  | 35487563 | 285569 | SH |  | DFND |  | 256737 | 0 | 28832 |
| META PLATFORMS INC | CL A | 30303M102 |  | 203133371 | 307671 | SH |  | DFND |  | 266031 | 0 | 41640 |
| METTLER TOLEDO INTERNATIONAL | COM | 592688105 |  | 597597 | 421 | SH |  | DFND |  | 0 | 0 | 421 |
| MICRON TECHNOLOGY INC | COM | 595112103 |  | 40107242 | 140510 | SH |  | DFND |  | 135654 | 0 | 4856 |
| MICROSOFT CORP | COM | 594918104 |  | 1796892563 | 1048245 | SH |  | DFND |  | 803224 | 0 | 245021 |
| MID-AMER APT CMNTYS INC | COM | 59522J103 |  | 140 | 16100 | SH |  | DFND |  | 0 | 0 | 16100 |
| MODERNA INC | COM | 60770K107 |  | 5627 | 200 | SH |  | DFND |  | 200 | 0 | 0 |
| MODINE MFG CO | COM | 607828100 |  | 798347 | 6684 | SH |  | DFND |  | 3342 | 0 | 3342 |
| MONDELEZ INTL INC | CL A | 609207105 |  | 1176613 | 9133 | SH |  | DFND |  | 9133 | 0 | 0 |
| MONGODB INC | CL A | 60937P106 |  | 16478012 | 43972 | SH |  | DFND |  | 43972 | 0 | 0 |
| MONSTER BEVERAGE CORP NEW | COM | 61174X109 |  | 1036210 | 13386 | SH |  | DFND |  | 13386 | 0 | 0 |
| MORGAN STANLEY | COM NEW | 617446448 |  | 12352735 | 90010 | SH |  | DFND |  | 60249 | 0 | 29761 |
| MOTOROLA SOLUTIONS INC | COM NEW | 620076307 |  | 3141993 | 8450 | SH |  | DFND |  | 7772 | 0 | 678 |
| MP MATERIALS CORP | COM CL A | 553368101 |  | 232752 | 5144 | SH |  | DFND |  | 2572 | 0 | 2572 |
| MSCI INC | COM | 55354G100 |  | 1097128 | 1873 | SH |  | DFND |  | 0 | 0 | 1873 |
| MUELLER WTR PRODS INC | COM SER A | 624758108 |  | 1251631 | 50900 | SH |  | DFND |  | 0 | 0 | 50900 |
| NASDAQ INC | COM | 631103108 |  | 91255047 | 962068 | SH |  | DFND |  | 511897 | 0 | 450171 |
| NCL CORP LTD | NOTE  1.125% 2/1 | 62886HBD2 |  | 669913 | 785000 | PRN |  | DFND |  | 0 | 0 | 785000 |
| NETEASE INC | SPONSORED ADS | 64110W102 |  | 294487 | 2410 | SH |  | DFND |  | 2410 | 0 | 0 |
| NETFLIX INC | COM | 64110L106 |  | 86741050 | 943533 | SH |  | DFND |  | 825354 | 0 | 118179 |
| NEW MTN FIN CORP | COM | 647551100 |  | 31952096 | 22392 | SH |  | DFND |  | 0 | 0 | 22392 |
| NEWMONT CORP | COM | 651639106 |  | 2595258 | 20946 | SH |  | DFND |  | 14982 | 0 | 5964 |
| NEXTERA ENERGY INC | COM | 65339F101 |  | 27121337 | 331032 | SH |  | DFND |  | 301795 | 0 | 29237 |
| NEXTRACKER INC | CLASS A COM | 65290E101 |  | 2676521 | 32671 | SH |  | DFND |  | 11253 | 0 | 21418 |
| NIKE INC | CL B | 654106103 |  | 17433 | 316 | SH |  | DFND |  | 316 | 0 | 0 |
| NIO INC | SPON ADS | 62914V106 |  | 5500 | 1000 | SH |  | DFND |  | 1000 | 0 | 0 |
| NISOURCE INC | COM | 65473P105 |  | 1193449 | 32272 | SH |  | DFND |  | 16136 | 0 | 16136 |
| NOVARTIS AG | SPONSORED ADR | 66987V109 |  | 61771 | 600 | SH |  | DFND |  | 600 | 0 | 0 |
| NOVO-NORDISK A S | ADR | 670100205 |  | 1247278 | 28590 | SH |  | DFND |  | 28590 | 0 | 0 |
| NRG ENERGY INC | COM NEW | 629377508 |  | 8468108 | 54898 | SH |  | DFND |  | 38926 | 0 | 15972 |
| NUCOR CORP | COM | 670346105 |  | 1033683 | 7108 | SH |  | DFND |  | 3554 | 0 | 3554 |
| NUTANIX INC | NOTE  0.250%10/0 | 67059NAH1 |  | 4193267 | 4360000 | PRN |  | DFND |  | 0 | 0 | 4360000 |
| NUTRIEN LTD | COM | 67077M108 |  | 142540 | 2679 | SH |  | DFND |  | 2679 | 0 | 0 |
| NVIDIA CORPORATION | COM | 67066G104 |  | 360889482 | 1969872 | SH |  | DFND |  | 1424398 | 0 | 545474 |
| OCULAR THERAPEUTIX INC | COM | 67576A100 |  | 212291 | 22000 | SH |  | DFND |  | 22000 | 0 | 0 |
| OKTA INC | CL A | 679295105 |  | 12246620 | 157395 | SH |  | DFND |  | 157395 | 0 | 0 |
| OLD DOMINION FREIGHT LINE IN | COM | 679580100 |  | 6163035 | 40561 | SH |  | DFND |  | 32132 | 0 | 8429 |
| ON SEMICONDUCTOR CORP | NOTE         5/0 | 682189AS4 |  | 4936478 | 4900000 | PRN |  | DFND |  | 0 | 0 | 4900000 |
| ONCTERNAL THERAPEUTICS INC | COM NEW | 68236P206 |  | 73 | 175 | SH |  | DFND |  | 175 | 0 | 0 |
| ORACLE CORP | COM | 68389X105 |  | 79775809 | 158700 | SH |  | DFND |  | 151914 | 0 | 6786 |
| OTIS WORLDWIDE CORP | COM | 68902V107 |  | 1830761 | 13667 | SH |  | DFND |  | 13667 | 0 | 0 |
| PALANTIR TECHNOLOGIES INC | CL A | 69608A108 |  | 36023992 | 251713 | SH |  | DFND |  | 250226 | 0 | 1487 |
| PALO ALTO NETWORKS INC | COM | 697435105 |  | 49218830 | 281696 | SH |  | DFND |  | 254427 | 0 | 27269 |
| PARKER-HANNIFIN CORP | COM | 701094104 |  | 56801036 | 57740 | SH |  | DFND |  | 50937 | 0 | 6803 |
| PAYLOCITY HLDG CORP | COM | 70438V106 |  | 1161649 | 7552 | SH |  | DFND |  | 0 | 0 | 7552 |
| PAYPAL HLDGS INC | COM | 70450Y103 |  | 1770275 | 37570 | SH |  | DFND |  | 37570 | 0 | 0 |
| PBF ENERGY INC | CL A | 69318G106 |  | 719422 | 31060 | SH |  | DFND |  | 15530 | 0 | 15530 |
| PDD HOLDINGS INC | SPONSORED ADS | 722304102 |  | 8937986 | 87229 | SH |  | DFND |  | 45112 | 0 | 42117 |
| PEPSICO INC | COM | 713448108 |  | 6874543 | 33043 | SH |  | DFND |  | 30523 | 0 | 2520 |
| PETROLEO BRASILEIRO SA PETRO | SPONSORED ADR | 71654V408 |  | 497268 | 44068 | SH |  | DFND |  | 41900 | 0 | 2168 |
| PFIZER INC | COM | 717081103 |  | 5030337 | 161930 | SH |  | DFND |  | 160711 | 0 | 1219 |
| PG CORP | COM | 69331C108 |  | 998122 | 70652 | SH |  | DFND |  | 35326 | 0 | 35326 |
| PINTEREST INC | CL A | 72352L106 |  | 15452334 | 637938 | SH |  | DFND |  | 589411 | 0 | 48527 |
| PNC FINL SVCS GROUP INC | COM | 693475105 |  | 7387 | 35 | SH |  | DFND |  | 35 | 0 | 0 |
| POOL CORP | COM | 73278L105 |  | 917779 | 4002 | SH |  | DFND |  | 0 | 0 | 4002 |
| PRIMORIS SVCS CORP | COM | 74164F103 |  | 866140 | 7836 | SH |  | DFND |  | 3918 | 0 | 3918 |
| PROCTER AND GAMBLE CO | COM | 742718109 |  | 30522044 | 179069 | SH |  | DFND |  | 172983 | 0 | 6086 |
| PROLOGIS INC. | COM | 74340W103 |  | 6136264 | 63771 | SH |  | DFND |  | 10826 | 0 | 52945 |
| PROSHARES TR | PSHS SHORT DOW30 | 74347B235 |  | 18453 | 1000 | SH |  | DFND |  | 1000 | 0 | 0 |
| PROSHARES TR | SHORT QQQ | 74349Y837 |  | 118405 | 5000 | SH |  | DFND |  | 5000 | 0 | 0 |
| PUBLIC STORAGE OPER CO | COM | 74460D109 |  | 204 | 5500 | SH |  | DFND |  | 0 | 0 | 5500 |
| PUBLIC SVC ENTERPRISE GRP IN | COM | 744573106 |  | 1246039 | 17516 | SH |  | DFND |  | 8758 | 0 | 8758 |
| PURE STORAGE INC | CL A | 74624M102 |  | 1683994 | 24609 | SH |  | DFND |  | 0 | 0 | 24609 |
| QUALCOMM INC | COM | 747525103 |  | 17367608 | 77380 | SH |  | DFND |  | 73337 | 0 | 4043 |
| QUANTA SVCS INC | COM | 74762E102 |  | 43127948 | 103976 | SH |  | DFND |  | 84312 | 0 | 19664 |
| QUANTUMSCAPE CORP | COM CL A | 74767V109 |  | 20760 | 2000 | SH |  | DFND |  | 2000 | 0 | 0 |
| QUEST DIAGNOSTICS INC | COM | 74834L100 |  | 1217769 | 8744 | SH |  | DFND |  | 8744 | 0 | 0 |
| RALPH LAUREN CORP | CL A | 751212101 |  | 4567291 | 16100 | SH |  | DFND |  | 16100 | 0 | 0 |
| REDFIN CORP | NOTE  0.500% 4/0 | 75737FAE8 |  | 249595 | 266000 | PRN |  | DFND |  | 0 | 0 | 266000 |
| REGENERON PHARMACEUTICALS | COM | 75886F107 |  | 3018936 | 3993 | SH |  | DFND |  | 3533 | 0 | 460 |
| REGIONS FINANCIAL CORP NEW | COM | 7591EP100 |  | 16139050 | 607076 | SH |  | DFND |  | 580376 | 0 | 26700 |
| REPUBLIC SVCS INC | COM | 760759100 |  | 49259036 | 227919 | SH |  | DFND |  | 210036 | 0 | 17883 |
| RIO TINTO PLC | SPONSORED ADR | 767204100 |  | 147232 | 2150 | SH |  | DFND |  | 2150 | 0 | 0 |
| ROBINHOOD MKTS INC | COM CL A | 770700102 |  | 12783772 | 137392 | SH |  | DFND |  | 137392 | 0 | 0 |
| ROPER TECHNOLOGIES INC | COM | 776696106 |  | 26042258 | 59847 | SH |  | DFND |  | 18679 | 0 | 41168 |
| RTX CORPORATION | COM | 75513E101 |  | 36492046 | 207566 | SH |  | DFND |  | 191347 | 0 | 16219 |
| S GLOBAL INC | COM | 78409V104 |  | 77870311 | 135590 | SH |  | DFND |  | 82498 | 0 | 53092 |
| SABRE GLBL INC | NOTE  7.320% 8/0 | 78573NAK8 |  | 104059 | 100000 | PRN |  | DFND |  | 0 | 0 | 100000 |
| SALESFORCE INC | COM | 79466L302 |  | 15277224 | 54922 | SH |  | DFND |  | 47772 | 0 | 7150 |
| SCHLUMBERGER LTD | COM STK | 806857108 |  | 310885 | 9486 | SH |  | DFND |  | 9486 | 0 | 0 |
| SEA LTD | SPONSORD ADS | 81141R100 |  | 6755757 | 58003 | SH |  | DFND |  | 29642 | 0 | 28361 |
| SEAGATE HDD CAYMAN | NOTE  3.500% 6/0 | 81180WBL4 |  | 4433709 | 1520000 | PRN |  | DFND |  | 0 | 0 | 1520000 |
| SELECT SECTOR SPDR TR | ENERGY | 81369Y506 |  | 683392 | 15200 | SH |  | DFND |  | 15200 | 0 | 0 |
| SELECT SECTOR SPDR TR | FINANCIAL | 81369Y605 |  | 707225 | 12858 | SH |  | DFND |  | 12660 | 0 | 198 |
| SELECT SECTOR SPDR TR | SBI CONS DISCR | 81369Y407 |  | 26614 | 260 | SH |  | DFND |  | 260 | 0 | 0 |
| SELECT SECTOR SPDR TR | SBI HEALTHCARE | 81369Y209 |  | 515768 | 3313 | SH |  | DFND |  | 3313 | 0 | 0 |
| SELECT SECTOR SPDR TR | SBI INT-UTILS | 81369Y886 |  | 5751 | 170 | SH |  | DFND |  | 0 | 0 | 170 |
| SELECT SECTOR SPDR TR | TECHNOLOGY | 81369Y803 |  | 1130417 | 7774 | SH |  | DFND |  | 7774 | 0 | 0 |
| SEMPRA | COM | 816851109 |  | 67797 | 761 | SH |  | DFND |  | 761 | 0 | 0 |
| SERVICE CORP INTL | COM | 817565104 |  | 1102857 | 14141 | SH |  | DFND |  | 0 | 0 | 14141 |
| SERVICENOW INC | COM | 81762P102 |  | 46833784 | 321331 | SH |  | DFND |  | 291986 | 0 | 29345 |
| SHELL PLC | SPON ADS | 780259305 |  | 145989 | 2052 | SH |  | DFND |  | 2052 | 0 | 0 |
| SHOALS TECHNOLOGIES GROUP IN | CL A | 82489W107 |  | 662099 | 85640 | SH |  | DFND |  | 42820 | 0 | 42820 |
| SHOPIFY INC | CL A | 82509L107 |  | 41712888 | 278667 | SH |  | DFND |  | 260459 | 0 | 18208 |
| SIMON PPTY GROUP INC NEW | COM | 828806109 |  | 374 | 39366 | SH |  | DFND |  | 0 | 0 | 39366 |
| SIXTH STREET SPECIALTY LENDI | COM | 83012A109 |  | 50715445 | 15014 | SH |  | DFND |  | 0 | 0 | 15014 |
| SNOWFLAKE INC | CL A | 833445109 |  | 7125754 | 36167 | SH |  | DFND |  | 36167 | 0 | 0 |
| SOUTHERN CO | COM | 842587107 |  | 2086256 | 27280 | SH |  | DFND |  | 18420 | 0 | 8860 |
| SPDR DOW JONES INDL AVERAGE | UT SER 1 | 78467X109 |  | 2095736 | 4436 | SH |  | DFND |  | 4436 | 0 | 0 |
| SPDR GOLD TR | GOLD SHS | 78463V107 |  | 58403956 | 151990 | SH |  | DFND |  | 151990 | 0 | 0 |
| SPDR S 500 ETF TR | TR UNIT | 78462F103 |  | 39256832 | 55647 | SH |  | DFND |  | 55647 | 0 | 0 |
| SPDR SER TR | BLOOMBERG SHT TE | 78468R408 |  | 9927972 | 392100 | SH |  | DFND |  | 392100 | 0 | 0 |
| SPDR SER TR | PORTFOLIO INTRMD | 78464A375 |  | 12454927 | 367836 | SH |  | DFND |  | 367836 | 0 | 0 |
| SPDR SER TR | PORTFOLIO SHORT | 78464A474 |  | 2097239 | 69422 | SH |  | DFND |  | 69422 | 0 | 0 |
| SPOTIFY USA INC | NOTE         3/1 | 84921RAB6 |  | 3457194 | 3590000 | PRN |  | DFND |  | 0 | 0 | 3590000 |
| SPROUTS FMRS MKT INC | COM | 85208M102 |  | 2819040 | 34941 | SH |  | DFND |  | 0 | 0 | 34941 |
| STANTEC INC | COM | 85472N109 |  | 1469349 | 15260 | SH |  | DFND |  | 0 | 0 | 15260 |
| STARBUCKS CORP | COM | 855244109 |  | 2234396 | 3375 | SH |  | DFND |  | 3375 | 0 | 0 |
| STERLING INFRASTRUCTURE INC | COM | 859241101 |  | 2238912 | 9200 | SH |  | DFND |  | 9200 | 0 | 0 |
| STRYKER CORPORATION | COM | 863667101 |  | 1618680 | 4592 | SH |  | DFND |  | 0 | 0 | 4592 |
| SUN LIFE FINANCIAL INC. | COM | 866796105 |  | 132855 | 2490 | SH |  | DFND |  | 2490 | 0 | 0 |
| SUNOPTA INC | COM | 8676EP108 |  | 193786 | 50364 | SH |  | DFND |  | 0 | 0 | 50364 |
| SUNRUN INC | COM | 86771W105 |  | 635368 | 37070 | SH |  | DFND |  | 18535 | 0 | 18535 |
| SYNOPSYS INC | COM | 871607107 |  | 4277575 | 10136 | SH |  | DFND |  | 10136 | 0 | 0 |
| T-MOBILE US INC | COM | 872590104 |  | 2478953 | 12461 | SH |  | DFND |  | 11060 | 0 | 1401 |
| T2 BIOSYSTEMS INC | COM NEW | 89853L302 |  | 0 | 1 | SH |  | DFND |  | 1 | 0 | 0 |
| TAIWAN SEMICONDUCTOR MFG LTD | SPONSORED ADS | 874039100 |  | 172645703 | 610826 | SH |  | DFND |  | 402869 | 0 | 207957 |
| TALEN ENERGY CORP | COM | 87422Q109 |  | 2725299 | 9092 | SH |  | DFND |  | 9092 | 0 | 0 |
| TARGA RES CORP | COM | 87612G101 |  | 4314259 | 26526 | SH |  | DFND |  | 13263 | 0 | 13263 |
| TASEKO MINES LTD | COM | 876511106 |  | 116 | 26 | SH |  | DFND |  | 26 | 0 | 0 |
| TECK RESOURCES LTD | CL B | 878742204 |  | 992093 | 23560 | SH |  | DFND |  | 11780 | 0 | 11780 |
| TENAX THERAPEUTICS INC | COM NEW | 88032L605 |  | 9 | 1 | SH |  | DFND |  | 1 | 0 | 0 |
| TENCENT MUSIC ENTMT GROUP | SPON ADS | 88034P109 |  | 2076432 | 131348 | SH |  | DFND |  | 66534 | 0 | 64814 |
| TERADYNE INC | COM | 880770102 |  | 853977 | 4327 | SH |  | DFND |  | 0 | 0 | 4327 |
| TESLA INC | COM | 88160R101 |  | 4714327 | 11392 | SH |  | DFND |  | 10491 | 0 | 901 |
| TETRA TECH INC NEW | COM | 88162G103 |  | 3075017 | 90150 | SH |  | DFND |  | 0 | 0 | 90150 |
| TEVA PHARMACEUTICAL INDS LTD | SPONSORED ADS | 881624209 |  | 23732701 | 786272 | SH |  | DFND |  | 723522 | 0 | 62750 |
| TEXAS INSTRS INC | COM | 882508104 |  | 10817259 | 31324 | SH |  | DFND |  | 27068 | 0 | 4256 |
| THE LION ELECTRIC COMPANY | COMMON STOCK | 536221104 |  | 6 | 2500 | SH |  | DFND |  | 2500 | 0 | 0 |
| THERMO FISHER SCIENTIFIC INC | COM | 883556102 |  | 26411570 | 53091 | SH |  | DFND |  | 39858 | 0 | 13233 |
| TJX COS INC NEW | COM | 872540109 |  | 34467016 | 187912 | SH |  | DFND |  | 178989 | 0 | 8923 |
| TOAST INC | CL A | 888787108 |  | 498435 | 13652 | SH |  | DFND |  | 0 | 0 | 13652 |
| TOLL BROTHERS INC | COM | 889478103 |  | 137 | 121100 | SH |  | DFND |  | 0 | 0 | 121100 |
| TOPBUILD CORP | COM | 89055F103 |  | 1330792 | 3111 | SH |  | DFND |  | 0 | 0 | 3111 |
| TORO CO | COM | 891092108 |  | 667778 | 8439 | SH |  | DFND |  | 0 | 0 | 8439 |
| TORONTO DOMINION BK ONT | COM NEW | 891160509 |  | 91417 | 1133 | SH |  | DFND |  | 1133 | 0 | 0 |
| TRACTOR SUPPLY CO | COM | 892356106 |  | 839330 | 16519 | SH |  | DFND |  | 0 | 0 | 16519 |
| TRANSDIGM GROUP INC | COM | 893641100 |  | 1032138 | 970 | SH |  | DFND |  | 683 | 0 | 287 |
| TRIMBLE INC | COM | 896239100 |  | 1444939 | 18064 | SH |  | DFND |  | 0 | 0 | 18064 |
| TRINITY CAP INC | COM | 896442308 |  | 60729363 | 25755 | SH |  | DFND |  | 0 | 0 | 25755 |
| TYLER TEX INDPT SCH DIST | NOTE  0.250% 3/1 | 902252AB1 |  | 2585376 | 2990000 | PRN |  | DFND |  | 0 | 0 | 2990000 |
| UBER TECHNOLOGIES INC | COM | 90353T100 |  | 2453808 | 33083 | SH |  | DFND |  | 24483 | 0 | 8600 |
| UNION PAC CORP | COM | 907818108 |  | 29114048 | 109601 | SH |  | DFND |  | 98697 | 0 | 10904 |
| UNITED PARCEL SERVICE INC | CL B | 911312106 |  | 340793 | 3548 | SH |  | DFND |  | 1102 | 0 | 2446 |
| UNITED RENTALS INC | COM | 911363109 |  | 20536381 | 23994 | SH |  | DFND |  | 16957 | 0 | 7037 |
| VAIL RESORTS INC | COM | 91879Q109 |  | 107 | 19600 | SH |  | DFND |  | 0 | 0 | 19600 |
| VALE S A | SPONSORED ADS | 91912E105 |  | 193169 | 16000 | SH |  | DFND |  | 16000 | 0 | 0 |
| VALERO ENERGY CORP | COM | 91913Y100 |  | 10018275 | 64468 | SH |  | DFND |  | 57528 | 0 | 6940 |
| VALMONT INDS INC | COM | 920253101 |  | 574786 | 1405 | SH |  | DFND |  | 0 | 0 | 1405 |
| VANECK ETF TRUST | GOLD MINERS ETF | 92189F106 |  | 6827685 | 96604 | SH |  | DFND |  | 96604 | 0 | 0 |
| VANECK ETF TRUST | HIGH YLD MUNIETF | 92189H409 |  | 303421 | 8000 | SH |  | DFND |  | 8000 | 0 | 0 |
| VANECK ETF TRUST | INTRMDT MUNI ETF | 92189H201 |  | 770160 | 22000 | SH |  | DFND |  | 22000 | 0 | 0 |
| VANECK ETF TRUST | SEMICONDUCTR ETF | 92189F676 |  | 4198562 | 14245 | SH |  | DFND |  | 14245 | 0 | 0 |
| VANGUARD INDEX FDS | S 500 ETF SHS | 922908363 |  | 1961688 | 3185 | SH |  | DFND |  | 3185 | 0 | 0 |
| VANGUARD INDEX FDS | TOTAL STK MKT | 922908769 |  | 1208827 | 3578 | SH |  | DFND |  | 3578 | 0 | 0 |
| VANGUARD INTL EQUITY INDEX F | FTSE EMR MKT ETF | 922042858 |  | 10497509 | 195633 | SH |  | DFND |  | 195633 | 0 | 0 |
| VANGUARD INTL EQUITY INDEX F | FTSE EUROPE ETF | 922042874 |  | 1971149 | 24029 | SH |  | DFND |  | 24029 | 0 | 0 |
| VANGUARD INTL EQUITY INDEX F | TT WRLD ST ETF | 922042742 |  | 1707530 | 16205 | SH |  | DFND |  | 16205 | 0 | 0 |
| VANGUARD SCOTTSDALE FDS | INT-TERM CORP | 92206C870 |  | 22056668 | 265213 | SH |  | DFND |  | 265213 | 0 | 0 |
| VANGUARD SCOTTSDALE FDS | SHRT TRM CORP BD | 92206C409 |  | 14287506 | 179019 | SH |  | DFND |  | 179019 | 0 | 0 |
| VANGUARD WHITEHALL FDS | EM MK GOV BD ETF | 921946885 |  | 10240140 | 152070 | SH |  | DFND |  | 152070 | 0 | 0 |
| VANGUARD WORLD FD | HEALTH CAR ETF | 92204A504 |  | 4517847 | 19733 | SH |  | DFND |  | 19733 | 0 | 0 |
| VANGUARD WORLD FD | INF TECH ETF | 92204A702 |  | 847631 | 1114 | SH |  | DFND |  | 1114 | 0 | 0 |
| VANGUARD WORLD FD | MATERIALS ETF | 92204A801 |  | 178182 | 1000 | SH |  | DFND |  | 1000 | 0 | 0 |
| VEEVA SYS INC | CL A COM | 922475108 |  | 3809328 | 21227 | SH |  | DFND |  | 8346 | 0 | 12881 |
| VENTAS INC | COM | 92276F100 |  | 1017922 | 17251 | SH |  | DFND |  | 0 | 0 | 17251 |
| VENTAS RLTY LTD PARTNERSHIP | NOTE  3.750% 6/0 | 92277GAZ0 |  | 3121255 | 2525000 | PRN |  | DFND |  | 0 | 0 | 2525000 |
| VEON LTD | SPONSORED ADS | 91822M502 |  | 13350 | 319 | SH |  | DFND |  | 319 | 0 | 0 |
| VERALTO CORP | COM SHS | 92338C103 |  | 2806069 | 27646 | SH |  | DFND |  | 0 | 0 | 27646 |
| VERISIGN INC | COM | 92343E102 |  | 21027083 | 99579 | SH |  | DFND |  | 91506 | 0 | 8073 |
| VERIZON COMMUNICATIONS INC | COM | 92343V104 |  | 13847 | 400 | SH |  | DFND |  | 400 | 0 | 0 |
| VERTIV HOLDINGS CO | COM CL A | 92537N108 |  | 29930783 | 211421 | SH |  | DFND |  | 182270 | 0 | 29151 |
| VICI PPTYS INC | COM | 925652109 |  | 10769 | 380 | SH |  | DFND |  | 380 | 0 | 0 |
| VIRGIN GALACTIC HOLDINGS INC | COM NEW | 92766K403 |  | 2033 | 616 | SH |  | DFND |  | 616 | 0 | 0 |
| VISA INC | COM CL A | 92826C839 |  | 190988974 | 538471 | SH |  | DFND |  | 385381 | 0 | 153090 |
| VISTRA CORP | COM | 92840M102 |  | 13767832 | 97366 | SH |  | DFND |  | 86340 | 0 | 11026 |
| VITAL FARMS INC | COM | 92847W103 |  | 488723 | 15033 | SH |  | DFND |  | 0 | 0 | 15033 |
| VSE CORP | COM | 918284100 |  | 2195424 | 15861 | SH |  | DFND |  | 15861 | 0 | 0 |
| WABTEC | COM | 929740108 |  | 2392886 | 11019 | SH |  | DFND |  | 0 | 0 | 11019 |
| WALMART INC | COM | 931142103 |  | 19153643 | 108697 | SH |  | DFND |  | 98498 | 0 | 10199 |
| WASTE CONNECTIONS INC | COM | 94106B101 |  | 2381022 | 14531 | SH |  | DFND |  | 8614 | 0 | 5917 |
| WASTE MGMT INC DEL | COM | 94106L109 |  | 15748271 | 80449 | SH |  | DFND |  | 59461 | 0 | 20988 |
| WATERS CORP | COM | 941848103 |  | 1427109 | 4304 | SH |  | DFND |  | 4304 | 0 | 0 |
| WELLS FARGO CO NEW | COM | 949746101 |  | 4695110 | 50770 | SH |  | DFND |  | 46674 | 0 | 4096 |
| WELLTOWER INC | COM | 95040Q104 |  | 4453532 | 29950 | SH |  | DFND |  | 29950 | 0 | 0 |
| WEST FRASER TIMBER CO LTD | COM | 952845105 |  | 511693 | 8438 | SH |  | DFND |  | 0 | 0 | 8438 |
| WEYERHAEUSER CO MTN BE | COM NEW | 962166104 |  | 1340289 | 56291 | SH |  | DFND |  | 0 | 0 | 56291 |
| WHEATON PRECIOUS METALS CORP | COM | 962879102 |  | 1186605 | 11072 | SH |  | DFND |  | 7740 | 0 | 3332 |
| WILLIAMS COS INC | COM | 969457100 |  | 804410 | 15226 | SH |  | DFND |  | 7613 | 0 | 7613 |
| WISDOMTREE TR | JAPN HEDGE EQT | 97717W851 |  | 3198821 | 22174 | SH |  | DFND |  | 22174 | 0 | 0 |
| WORKDAY INC | CL A | 98138H101 |  | 1528769 | 6981 | SH |  | DFND |  | 0 | 0 | 6981 |
| XCEL ENERGY INC | COM | 98389B100 |  | 2765306 | 42354 | SH |  | DFND |  | 21177 | 0 | 21177 |
| XYLEM INC | COM | 98419M100 |  | 4677156 | 35202 | SH |  | DFND |  | 6758 | 0 | 28444 |
| ZOETIS INC | CL A | 98978V103 |  | 151692 | 1200 | SH |  | DFND |  | 1200 | 0 | 0 |

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