# EDGAR Filing Document

**Accession Number:** 0001326234
**File Stem:** 0001214659-25-015984
**Filing Date:** 2025-11
**Character Count:** 23909
**Document Hash:** 68b7d2de1c2f99560774ec9682f6963f
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001214659-25-015984.hdr.sgml**: 20251106

**ACCESSION NUMBER**: 0001214659-25-015984

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

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251106

**DATE AS OF CHANGE**: 20251105

**EFFECTIVENESS DATE**: 20251106

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Allen Investment Management, LLC
- **CENTRAL INDEX KEY:** 0001326234

**ORGANIZATION NAME:**
- **EIN:** 341975156
- **STATE OF INCORPORATION:** NY
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-11378
- **FILM NUMBER:** 251455364

**BUSINESS ADDRESS:**
- **STREET 1:** 711 FIFTH AVENUE
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10022
- **BUSINESS PHONE:** 2128328000

**MAIL ADDRESS:**
- **STREET 1:** 711 FIFTH AVENUE
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10022

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Allen Investment Management LLC
- **DATE OF NAME CHANGE:** 20050505

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 09-30-2025

**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:** Allen Investment Management LLC<br>**Address:** 711 FIFTH AVENUE<br>NEW YORK, NY 10022

**Form 13F File Number:** 028-11378

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:** Isaac Keschner<br>**Title:** Vice President<br>**Phone:** 212-832-8000

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

/s/ Isaac Keschner  New York, NY  11-05-2025<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:** 1

**Form 13F Information Table Entry Total:** 202

**Form 13F Information Table Value Total:** $9003958232

      (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.]

| No.   | Name                 | Form 13F File Number   |
|:---|:---|:---|
|  | ALLEN OPERATIONS LLC | 028-12302              |

### 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 |
| 3M CO | COM | 594918104 |  | 660425723 | 1275076 | SH |  | DFND | 1 | 1275076 | 0 | 0 |
| ABBOTT LABS | COM | 023135106 |  | 615040821 | 2801115 | SH |  | DFND | 1 | 2801115 | 0 | 0 |
| ABBVIE INC | COM | 808513105 |  | 558361865 | 5848558 | SH |  | DFND | 1 | 5848558 | 0 | 0 |
| ACUITY INC | CL A | 30303M102 |  | 501643228 | 683084 | SH |  | DFND | 1 | 683084 | 0 | 0 |
| ADVANCED MICRO DEVICES INC | COM CL A | 92826C839 |  | 399387972 | 1169922 | SH |  | DFND | 1 | 1169922 | 0 | 0 |
| AFFIRM HLDGS INC | COM | 78409V104 |  | 359319620 | 738262 | SH |  | DFND | 1 | 738262 | 0 | 0 |
| AIRBNB INC | COM | 91324P102 |  | 351308565 | 1017401 | SH |  | DFND | 1 | 1017401 | 0 | 0 |
| ALIBABA GROUP HLDG LTD | COM | 615369105 |  | 347288047 | 728862 | SH |  | DFND | 1 | 728862 | 0 | 0 |
| ALICO INC | COM | 03769M106 |  | 346669920 | 2601260 | SH |  | DFND | 1 | 2601260 | 0 | 0 |
| ALPHABET INC | CAP STK CL C | 02079K107 |  | 259208073 | 1064291 | SH |  | DFND | 1 | 1064291 | 0 | 0 |
| ALPHABET INC | COM | 36828A101 |  | 243306092 | 395684 | SH |  | DFND | 1 | 395684 | 0 | 0 |
| ALPS ETF TR | COM | 90353T100 |  | 226992277 | 2316957 | SH |  | DFND | 1 | 2316957 | 0 | 0 |
| AMAZON COM INC | TOTAL STK MKT | 922908769 |  | 199711483 | 608561 | SH |  | DFND | 1 | 608561 | 0 | 0 |
| AMERICAN EXPRESS CO | ALERIAN MLP | 00162Q452 |  | 164317162 | 3501325 | SH |  | DFND | 1 | 3501325 | 0 | 0 |
| ANGI INC | UNIT SER 1 | 46090E103 |  | 161639416 | 269233 | SH |  | DFND | 1 | 269233 | 0 | 0 |
| APOLLO GLOBAL MGMT INC | GOLD SHS | 78463V107 |  | 158668659 | 446363 | SH |  | DFND | 1 | 446363 | 0 | 0 |
| APPLE INC | S 500 ETF SHS | 922908363 |  | 157823798 | 257722 | SH |  | DFND | 1 | 257722 | 0 | 0 |
| APPLIED MATLS INC | COM | 67066G104 |  | 146648708 | 785983 | SH |  | DFND | 1 | 785983 | 0 | 0 |
| APPLOVIN CORP | COM | 097023105 |  | 130890751 | 606453 | SH |  | DFND | 1 | 606453 | 0 | 0 |
| ARES CAPITAL CORP | COM | 81762P102 |  | 121883724 | 132442 | SH |  | DFND | 1 | 132442 | 0 | 0 |
| ARISTA NETWORKS INC | COM | 11135F101 |  | 115502811 | 350104 | SH |  | DFND | 1 | 350104 | 0 | 0 |
| ASML HOLDING N V | CL A COM | 18915M107 |  | 112946228 | 526335 | SH |  | DFND | 1 | 526335 | 0 | 0 |
| ASTERA LABS INC | TR UNIT | 78462F103 |  | 108514060 | 162890 | SH |  | DFND | 1 | 162890 | 0 | 0 |
| AURORA INNOVATION INC | CL A SUB VTG SHS | 82509L107 |  | 107556574 | 723848 | SH |  | DFND | 1 | 723848 | 0 | 0 |
| AUTOMATIC DATA PROCESSING IN | CL A | 22788C105 |  | 103496170 | 211053 | SH |  | DFND | 1 | 211053 | 0 | 0 |
| BANK AMERICA CORP | COM | 58733R102 |  | 101995746 | 43645 | SH |  | DFND | 1 | 43645 | 0 | 0 |
| BERKSHIRE HATHAWAY INC DEL | ENERGY | 81369Y506 |  | 87929604 | 984213 | SH |  | DFND | 1 | 984213 | 0 | 0 |
| BERKSHIRE HATHAWAY INC DEL | N Y REGISTRY SHS | N07059210 |  | 83278974 | 86024 | SH |  | DFND | 1 | 86024 | 0 | 0 |
| BLACKSTONE INC | VAN FTSE DEV MKT | 921943858 |  | 78155034 | 1304323 | SH |  | DFND | 1 | 1304323 | 0 | 0 |
| BLACKSTONE SECD LENDING FD | COM | 037833100 |  | 76787858 | 301566 | SH |  | DFND | 1 | 301566 | 0 | 0 |
| BLUE OWL CAPITAL CORPORATION | CORE S TTL STK | 464287150 |  | 76554514 | 525606 | SH |  | DFND | 1 | 525606 | 0 | 0 |
| BOEING CO | COM CL A | 19260Q107 |  | 73693641 | 218358 | SH |  | DFND | 1 | 218358 | 0 | 0 |
| BRAZE INC | ORD SHS CL A | G6683N103 |  | 64605105 | 4035297 | SH |  | DFND | 1 | 4035297 | 0 | 0 |
| BROADCOM INC | CL A | 22266T109 |  | 64192535 | 1993557 | SH |  | DFND | 1 | 1993557 | 0 | 0 |
| BROOKFIELD ASSET MANAGMT LTD | COM | 04010L103 |  | 63987413 | 3135101 | SH |  | DFND | 1 | 3135101 | 0 | 0 |
| BROOKFIELD CORP | SPONSORED ADS | 874039100 |  | 58283634 | 208685 | SH |  | DFND | 1 | 208685 | 0 | 0 |
| CAMECO CORP | COM | 38173M102 |  | 57134755 | 4173466 | SH |  | DFND | 1 | 4173466 | 0 | 0 |
| CANADIAN NATL RY CO | COM | 09260D107 |  | 55474312 | 324696 | SH |  | DFND | 1 | 324696 | 0 | 0 |
| CANADIAN PACIFIC KANSAS CITY | COM SHS | 833445109 |  | 52992296 | 234947 | SH |  | DFND | 1 | 234947 | 0 | 0 |
| CARGURUS INC | SHS BEN INT | 46438F101 |  | 51695345 | 795313 | SH |  | DFND | 1 | 795313 | 0 | 0 |
| CINTAS CORP | CL A | 94419L101 |  | 50583113 | 566250 | SH |  | DFND | 1 | 566250 | 0 | 0 |
| CLOUDFLARE INC | COM SHS | 040413205 |  | 50139977 | 344108 | SH |  | DFND | 1 | 344108 | 0 | 0 |
| COCA COLA CO | COM | 46625H100 |  | 49367949 | 156510 | SH |  | DFND | 1 | 156510 | 0 | 0 |
| COCA-COLA EUROPACIFIC PARTNE | CL B NEW | 084670702 |  | 45892118 | 91284 | SH |  | DFND | 1 | 91284 | 0 | 0 |
| COINBASE GLOBAL INC | VG TL INTL STK F | 921909768 |  | 43202267 | 588106 | SH |  | DFND | 1 | 588106 | 0 | 0 |
| CONOCOPHILLIPS | SHRT TRM CORP BD | 92206C409 |  | 38297580 | 479139 | SH |  | DFND | 1 | 479139 | 0 | 0 |
| COPART INC | COM | 697435105 |  | 37505369 | 184202 | SH |  | DFND | 1 | 184202 | 0 | 0 |
| COSTCO WHSL CORP NEW | COM | 83012A109 |  | 35631128 | 1558667 | SH |  | DFND | 1 | 1558667 | 0 | 0 |
| COUPANG INC | INT-TERM CORP | 92206C870 |  | 35339910 | 420163 | SH |  | DFND | 1 | 420163 | 0 | 0 |
| CREDIT ACCEP CORP MICH | CL A | 771049103 |  | 34235218 | 247150 | SH |  | DFND | 1 | 247150 | 0 | 0 |
| CROWDSTRIKE HLDGS INC | SHS | L8681T102 |  | 32711072 | 46864 | SH |  | DFND | 1 | 46864 | 0 | 0 |
| D R HORTON INC | COM | 48251W104 |  | 32146381 | 247375 | SH |  | DFND | 1 | 247375 | 0 | 0 |
| DANAHER CORPORATION | CORE MSCI TOTAL | 46432F834 |  | 32026754 | 387827 | SH |  | DFND | 1 | 387827 | 0 | 0 |
| DATADOG INC | TAX EXEMPT BD | 922907746 |  | 31189104 | 622910 | SH |  | DFND | 1 | 622910 | 0 | 0 |
| DISNEY WALT CO | RUS 1000 ETF | 464287622 |  | 30519128 | 83454 | SH |  | DFND | 1 | 83454 | 0 | 0 |
| DONALDSON INC | COM | 64110L106 |  | 30336273 | 25303 | SH |  | DFND | 1 | 25303 | 0 | 0 |
| DOVER CORP | COM | 443573100 |  | 30279291 | 64727 | SH |  | DFND | 1 | 64727 | 0 | 0 |
| DUOLINGO INC | COM | 007903107 |  | 29811749 | 184262 | SH |  | DFND | 1 | 184262 | 0 | 0 |
| ELEVANCE HEALTH INC FORMERLY | CORE MSCI EAFE | 46432F842 |  | 29755492 | 340959 | SH |  | DFND | 1 | 340959 | 0 | 0 |
| ELI LILLY  CO | CL A COM | 26603R106 |  | 25239015 | 78421 | SH |  | DFND | 1 | 78421 | 0 | 0 |
| ENTERPRISE PRODS PARTNERS L | COM | 855244109 |  | 23860076 | 282034 | SH |  | DFND | 1 | 282034 | 0 | 0 |
| EPAM SYS INC | COM | 478160104 |  | 21790003 | 117517 | SH |  | DFND | 1 | 117517 | 0 | 0 |
| EXXON MOBIL CORP | MSCI ACWI ETF | 464288257 |  | 21633731 | 156494 | SH |  | DFND | 1 | 156494 | 0 | 0 |
| FAIR ISAAC CORP | S EQL WGT | 46137V357 |  | 20346893 | 107230 | SH |  | DFND | 1 | 107230 | 0 | 0 |
| GALLAGHER ARTHUR J  CO | CL A | 57636Q104 |  | 19605743 | 34468 | SH |  | DFND | 1 | 34468 | 0 | 0 |
| GE AEROSPACE | CAP STK CL A | 02079K305 |  | 18899080 | 77742 | SH |  | DFND | 1 | 77742 | 0 | 0 |
| GE VERNOVA INC | COMMON STOCK | 09261X102 |  | 18649618 | 715367 | SH |  | DFND | 1 | 715367 | 0 | 0 |
| GENERAL DYNAMICS CORP | CL A | 98138H101 |  | 17474109 | 72588 | SH |  | DFND | 1 | 72588 | 0 | 0 |
| GOLUB CAP BDC INC | CL A | 69608A108 |  | 17183200 | 94170 | SH |  | DFND | 1 | 94170 | 0 | 0 |
| HERSHEY CO | COM | 931142103 |  | 16846600 | 163464 | SH |  | DFND | 1 | 163464 | 0 | 0 |
| HOME DEPOT INC | SHORT TERM TREAS | 92206C102 |  | 16584695 | 281813 | SH |  | DFND | 1 | 281813 | 0 | 0 |
| HONEYWELL INTL INC | COM | 191216100 |  | 15784188 | 238000 | SH |  | DFND | 1 | 238000 | 0 | 0 |
| HUBSPOT INC | DIV APP ETF | 921908844 |  | 13993550 | 64848 | SH |  | DFND | 1 | 64848 | 0 | 0 |
| HUMANA INC | RUSSELL 3000 ETF | 464287689 |  | 13386056 | 35325 | SH |  | DFND | 1 | 35325 | 0 | 0 |
| IAC INC | COM | 74762E102 |  | 13261440 | 32000 | SH |  | DFND | 1 | 32000 | 0 | 0 |
| INTERNATIONAL BUSINESS MACHS | FINANCIALS ETF | 92204A405 |  | 12580798 | 95861 | SH |  | DFND | 1 | 95861 | 0 | 0 |
| INVESCO EXCH TRADED FD TR II | MSCI JPN ETF NEW | 46434G822 |  | 12147083 | 151441 | SH |  | DFND | 1 | 151441 | 0 | 0 |
| INVESCO EXCHANGE TRADED FD T | RUS 1000 GRW ETF | 464287614 |  | 11782385 | 25154 | SH |  | DFND | 1 | 25154 | 0 | 0 |
| INVESCO EXCHANGE TRADED FD T | COM | 369550108 |  | 11578314 | 33954 | SH |  | DFND | 1 | 33954 | 0 | 0 |
| INVESCO QQQ TR | COM | 548661107 |  | 10690979 | 42541 | SH |  | DFND | 1 | 42541 | 0 | 0 |
| IRON MTN INC DEL | COM | 69121K104 |  | 10499379 | 822191 | SH |  | DFND | 1 | 822191 | 0 | 0 |
| ISHARES BITCOIN TRUST ETF | SELECT DIVID ETF | 464287168 |  | 10369463 | 72973 | SH |  | DFND | 1 | 72973 | 0 | 0 |
| ISHARES INC | COM | 742718109 |  | 10041796 | 65355 | SH |  | DFND | 1 | 65355 | 0 | 0 |
| ISHARES TR | COM CL A | 141788109 |  | 10006270 | 268769 | SH |  | DFND | 1 | 268769 | 0 | 0 |
| ISHARES TR | COM CL A | 00827B106 |  | 8527194 | 116683 | SH |  | DFND | 1 | 116683 | 0 | 0 |
| ISHARES TR | COM CL A | 03831W108 |  | 8205727 | 11420 | SH |  | DFND | 1 | 11420 | 0 | 0 |
| ISHARES TR | COM | 437076102 |  | 7555578 | 18647 | SH |  | DFND | 1 | 18647 | 0 | 0 |
| ISHARES TR | CL A | 084670108 |  | 7542000 | 10 | SH |  | DFND | 1 | 10 | 0 | 0 |
| ISHARES TR | CORE S SCP ETF | 464287804 |  | 6693694 | 56330 | SH |  | DFND | 1 | 56330 | 0 | 0 |
| ISHARES TR | PORTFOLIO SHORT | 78464A474 |  | 6196849 | 204584 | SH |  | DFND | 1 | 204584 | 0 | 0 |
| ISHARES TR | COM | 13646K108 |  | 6018122 | 80791 | SH |  | DFND | 1 | 80791 | 0 | 0 |
| ISHARES TR | COM | 580135101 |  | 5843805 | 19230 | SH |  | DFND | 1 | 19230 | 0 | 0 |
| ISHARES TR | HIGH DIV YLD | 921946406 |  | 5581197 | 39597 | SH |  | DFND | 1 | 39597 | 0 | 0 |
| ISHARES TR | CL A | 609207105 |  | 5552459 | 88882 | SH |  | DFND | 1 | 88882 | 0 | 0 |
| ISHARES TR | CLASS A COM | 051774107 |  | 5509469 | 1022165 | SH |  | DFND | 1 | 1022165 | 0 | 0 |
| ISHARES TR | COM CL A | 009066101 |  | 5450787 | 44892 | SH |  | DFND | 1 | 44892 | 0 | 0 |
| ISHARES TR | COM | 532457108 |  | 5039615 | 6605 | SH |  | DFND | 1 | 6605 | 0 | 0 |
| ISHARES TR | COM | 459200101 |  | 4232400 | 15000 | SH |  | DFND | 1 | 15000 | 0 | 0 |
| ISHARES TR | COM | 22160K105 |  | 4179219 | 4515 | SH |  | DFND | 1 | 4515 | 0 | 0 |
| ISHARES TR | GROWTH ETF | 922908736 |  | 4133279 | 8618 | SH |  | DFND | 1 | 8618 | 0 | 0 |
| ISHARES TR | COM | 67103H107 |  | 4123733 | 38250 | SH |  | DFND | 1 | 38250 | 0 | 0 |
| ISHARES TR | MSCI EAFE ETF | 464287465 |  | 3677564 | 39387 | SH |  | DFND | 1 | 39387 | 0 | 0 |
| ISHARES TR | COM | 00508Y102 |  | 3626427 | 10530 | SH |  | DFND | 1 | 10530 | 0 | 0 |
| ISHARES TR | CORE HIGH DV ETF | 46429B663 |  | 3574928 | 29195 | SH |  | DFND | 1 | 29195 | 0 | 0 |
| ISHARES TR | S 500 TOP 50 | 46137V233 |  | 3545303 | 61636 | SH |  | DFND | 1 | 61636 | 0 | 0 |
| ISHARES TR | CL A LTD VT SH | 11271J107 |  | 3203989 | 46719 | SH |  | DFND | 1 | 46719 | 0 | 0 |
| ISHARES TR | NASDAQ 100 ETF | 46138G649 |  | 3110747 | 12588 | SH |  | DFND | 1 | 12588 | 0 | 0 |
| ISHARES TR | RUS 1000 VAL ETF | 464287598 |  | 3092125 | 15188 | SH |  | DFND | 1 | 15188 | 0 | 0 |
| ISHARES TR | RUS MID CAP ETF | 464287499 |  | 2993050 | 31000 | SH |  | DFND | 1 | 31000 | 0 | 0 |
| JOHNSON  JOHNSON | MSCI EMG MKT ETF | 464287234 |  | 2782193 | 52101 | SH |  | DFND | 1 | 52101 | 0 | 0 |
| JPMORGAN CHASE  CO. | COM | 871829107 |  | 2664934 | 32365 | SH |  | DFND | 1 | 32365 | 0 | 0 |
| KKR  CO INC | COM | 911363109 |  | 2410517 | 2525 | SH |  | DFND | 1 | 2525 | 0 | 0 |
| KLA CORP | COM | 74164M108 |  | 2363124 | 8513 | SH |  | DFND | 1 | 8513 | 0 | 0 |
| LENNAR CORP | MSCI ACWI EX US | 464288240 |  | 2144615 | 32989 | SH |  | DFND | 1 | 32989 | 0 | 0 |
| LOWES COS INC | ALLWRLD EX US | 922042775 |  | 2019271 | 28293 | SH |  | DFND | 1 | 28293 | 0 | 0 |
| MARKEL GROUP INC | COM | 754730109 |  | 1924490 | 11150 | SH |  | DFND | 1 | 11150 | 0 | 0 |
| MASTERCARD INCORPORATED | COM | 136375102 |  | 1886000 | 20000 | SH |  | DFND | 1 | 20000 | 0 | 0 |
| MATCH GROUP INC NEW | COM | 00287Y109 |  | 1866212 | 8060 | SH |  | DFND | 1 | 8060 | 0 | 0 |
| MCDONALDS CORP | COM | 68389X105 |  | 1813717 | 6449 | SH |  | DFND | 1 | 6449 | 0 | 0 |
| MERCADOLIBRE INC | COM | 79466L302 |  | 1652601 | 6973 | SH |  | DFND | 1 | 6973 | 0 | 0 |
| MERCK  CO INC | COM | 13321L108 |  | 1631172 | 19440 | SH |  | DFND | 1 | 19440 | 0 | 0 |
| META PLATFORMS INC | RUSSELL 2000 ETF | 464287655 |  | 1572740 | 6500 | SH |  | DFND | 1 | 6500 | 0 | 0 |
| MICROSOFT CORP | COM | 235851102 |  | 1563677 | 7887 | SH |  | DFND | 1 | 7887 | 0 | 0 |
| MONDELEZ INTL INC | S 100 ETF | 464287101 |  | 1560687 | 4689 | SH |  | DFND | 1 | 4689 | 0 | 0 |
| MOODYS CORP | COM | 002824100 |  | 1553704 | 11600 | SH |  | DFND | 1 | 11600 | 0 | 0 |
| MORGAN STANLEY | COM NEW | 482480100 |  | 1494621 | 1386 | SH |  | DFND | 1 | 1386 | 0 | 0 |
| NETFLIX INC | SHORT TRM BOND | 921937827 |  | 1477826 | 18728 | SH |  | DFND | 1 | 18728 | 0 | 0 |
| NEW YORK TIMES CO | CL B | 654106103 |  | 1429188 | 20496 | SH |  | DFND | 1 | 20496 | 0 | 0 |
| NIKE INC | COM | 23331A109 |  | 1375588 | 8117 | SH |  | DFND | 1 | 8117 | 0 | 0 |
| NORFOLK SOUTHN CORP | COM | 036752103 |  | 1324146 | 4098 | SH |  | DFND | 1 | 4098 | 0 | 0 |
| NU HLDGS LTD | COM | 257651109 |  | 1309600 | 16000 | SH |  | DFND | 1 | 16000 | 0 | 0 |
| NVIDIA CORPORATION | COM | 260003108 |  | 1291765 | 7743 | SH |  | DFND | 1 | 7743 | 0 | 0 |
| ORACLE CORP | COM | 04626A103 |  | 1265455 | 6463 | SH |  | DFND | 1 | 6463 | 0 | 0 |
| OREILLY AUTOMOTIVE INC | COM | 30231G102 |  | 1236078 | 10963 | SH |  | DFND | 1 | 10963 | 0 | 0 |
| PALANTIR TECHNOLOGIES INC | COM NEW | 369604301 |  | 1128075 | 3750 | SH |  | DFND | 1 | 3750 | 0 | 0 |
| PALO ALTO NETWORKS INC | COM | 743315103 |  | 1126586 | 4562 | SH |  | DFND | 1 | 4562 | 0 | 0 |
| PEPSICO INC | U.S. TECH ETF | 464287721 |  | 1070179 | 5464 | SH |  | DFND | 1 | 5464 | 0 | 0 |
| PHILLIPS 66 | COM | 363576109 |  | 1004177 | 3242 | SH |  | DFND | 1 | 3242 | 0 | 0 |
| PRIMERICA INC | COM NEW | 44891N208 |  | 1000193 | 29357 | SH |  | DFND | 1 | 29357 | 0 | 0 |
| PROCORE TECHNOLOGIES INC | FINANCIAL | 81369Y605 |  | 984603 | 18274 | SH |  | DFND | 1 | 18274 | 0 | 0 |
| PROCTER AND GAMBLE CO | SPONSORED ADS | 01609W102 |  | 941550 | 5268 | SH |  | DFND | 1 | 5268 | 0 | 0 |
| PROGRESSIVE CORP | COM | 94106L109 |  | 938528 | 4250 | SH |  | DFND | 1 | 4250 | 0 | 0 |
| QUALCOMM INC | FTSE EMR MKT ETF | 922042858 |  | 849922 | 15687 | SH |  | DFND | 1 | 15687 | 0 | 0 |
| QUANTA SVCS INC | COM | 57667L107 |  | 793958 | 22479 | SH |  | DFND | 1 | 22479 | 0 | 0 |
| RAYMOND JAMES FINL INC | RUS MD CP GR ETF | 464287481 |  | 774568 | 5439 | SH |  | DFND | 1 | 5439 | 0 | 0 |
| ROBLOX CORP | COM | 016230104 |  | 731534 | 21106 | SH |  | DFND | 1 | 21106 | 0 | 0 |
| RTX CORPORATION | S MC 400GR ETF | 464287606 |  | 724545 | 7556 | SH |  | DFND | 1 | 7556 | 0 | 0 |
| RUBRIK INC. | COM | 20825C104 |  | 722668 | 7640 | SH |  | DFND | 1 | 7640 | 0 | 0 |
| S GLOBAL INC | S SML 600 GWT | 464287887 |  | 707500 | 5000 | SH |  | DFND | 1 | 5000 | 0 | 0 |
| SALESFORCE INC | CL A LMT VTG SHS | 113004105 |  | 669557 | 11759 | SH |  | DFND | 1 | 11759 | 0 | 0 |
| SCHWAB CHARLES CORP | COM | 025816109 |  | 656348 | 1976 | SH |  | DFND | 1 | 1976 | 0 | 0 |
| SELECT SECTOR SPDR TR | COM | 929740108 |  | 635089 | 3168 | SH |  | DFND | 1 | 3168 | 0 | 0 |
| SELECT SECTOR SPDR TR | COM NEW | 617446448 |  | 626938 | 3944 | SH |  | DFND | 1 | 3944 | 0 | 0 |
| SELECT SECTOR SPDR TR | REAL ESTATE ETF | 922908553 |  | 619919 | 6781 | SH |  | DFND | 1 | 6781 | 0 | 0 |
| SELECT SECTOR SPDR TR | CL A | 650111107 |  | 603848 | 10520 | SH |  | DFND | 1 | 10520 | 0 | 0 |
| SELECT SECTOR SPDR TR | COM | 293792107 |  | 593723 | 18987 | SH |  | DFND | 1 | 18987 | 0 | 0 |
| SELECT SECTOR SPDR TR | COM | 58933Y105 |  | 571144 | 6805 | SH |  | DFND | 1 | 6805 | 0 | 0 |
| SERVICENOW INC | RUS 2000 GRW ETF | 464287648 |  | 550469 | 1720 | SH |  | DFND | 1 | 1720 | 0 | 0 |
| SHOPIFY INC | SBI HEALTHCARE | 81369Y209 |  | 548747 | 3943 | SH |  | DFND | 1 | 3943 | 0 | 0 |
| SIXTH STREET SPECIALTY LENDI | SBI CONS DISCR | 81369Y407 |  | 545900 | 2278 | SH |  | DFND | 1 | 2278 | 0 | 0 |
| SNOWFLAKE INC | CL A | 526057104 |  | 511848 | 4061 | SH |  | DFND | 1 | 4061 | 0 | 0 |
| SPDR GOLD TR | INTERMED TERM | 921937819 |  | 511411 | 6549 | SH |  | DFND | 1 | 6549 | 0 | 0 |
| SPDR S 500 ETF TR | COM | 570535104 |  | 500776 | 262 | SH |  | DFND | 1 | 262 | 0 | 0 |
| SPDR SERIES TRUST | COM | 88579Y101 |  | 496576 | 3200 | SH |  | DFND | 1 | 3200 | 0 | 0 |
| SPOTIFY TECHNOLOGY S A | INDL | 81369Y704 |  | 493844 | 3202 | SH |  | DFND | 1 | 3202 | 0 | 0 |
| STARBUCKS CORP | CL A COM | 23804L103 |  | 492562 | 3459 | SH |  | DFND | 1 | 3459 | 0 | 0 |
| SYSCO CORP | COM CL A | 10576N102 |  | 487860 | 17154 | SH |  | DFND | 1 | 17154 | 0 | 0 |
| TAIWAN SEMICONDUCTOR MFG LTD | COM | 655844108 |  | 477351 | 1589 | SH |  | DFND | 1 | 1589 | 0 | 0 |
| TEMPUS AI INC | COM | 427866108 |  | 471366 | 2520 | SH |  | DFND | 1 | 2520 | 0 | 0 |
| TERAWULF INC | SPON ADR NEW | 904767704 |  | 468608 | 7905 | SH |  | DFND | 1 | 7905 | 0 | 0 |
| TESLA INC | SBI CONS STPLS | 81369Y308 |  | 455565 | 5813 | SH |  | DFND | 1 | 5813 | 0 | 0 |
| THERMO FISHER SCIENTIFIC INC | COM | 718546104 |  | 451314 | 3318 | SH |  | DFND | 1 | 3318 | 0 | 0 |
| UBER TECHNOLOGIES INC | RUS MDCP VAL ETF | 464287473 |  | 451274 | 3231 | SH |  | DFND | 1 | 3231 | 0 | 0 |
| UBIQUITI INC | COM | 90353W103 |  | 406917 | 616 | SH |  | DFND | 1 | 616 | 0 | 0 |
| UNILEVER PLC | COM | 438516106 |  | 389270 | 1848 | SH |  | DFND | 1 | 1848 | 0 | 0 |
| UNITED RENTALS INC | COM | 88160R101 |  | 387796 | 872 | SH |  | DFND | 1 | 872 | 0 | 0 |
| UNITEDHEALTH GROUP INC | CL A | 88023B103 |  | 376351 | 4663 | SH |  | DFND | 1 | 4663 | 0 | 0 |
| VANGUARD BD INDEX FDS | COM | 74275K108 |  | 374298 | 5133 | SH |  | DFND | 1 | 5133 | 0 | 0 |
| VANGUARD BD INDEX FDS | COM | 225310101 |  | 373544 | 800 | SH |  | DFND | 1 | 800 | 0 | 0 |
| VANGUARD BD INDEX FDS | COM | 444859102 |  | 366319 | 1408 | SH |  | DFND | 1 | 1408 | 0 | 0 |
| VANGUARD INDEX FDS | RUS 2000 VAL ETF | 464287630 |  | 356626 | 2017 | SH |  | DFND | 1 | 2017 | 0 | 0 |
| VANGUARD INDEX FDS | COM | 713448108 |  | 345623 | 2461 | SH |  | DFND | 1 | 2461 | 0 | 0 |
| VANGUARD INDEX FDS | COM | 883556102 |  | 323023 | 666 | SH |  | DFND | 1 | 666 | 0 | 0 |
| VANGUARD INDEX FDS | COM | 747525103 |  | 321907 | 1935 | SH |  | DFND | 1 | 1935 | 0 | 0 |
| VANGUARD INTL EQUITY INDEX F | COM | 038222105 |  | 303629 | 1483 | SH |  | DFND | 1 | 1483 | 0 | 0 |
| VANGUARD INTL EQUITY INDEX F | CL A | 781154109 |  | 277676 | 3376 | SH |  | DFND | 1 | 3376 | 0 | 0 |
| VANGUARD MUN BD FDS | COM | 060505104 |  | 276729 | 5364 | SH |  | DFND | 1 | 5364 | 0 | 0 |
| VANGUARD SCOTTSDALE FDS | COM | 46284V101 |  | 274830 | 2696 | SH |  | DFND | 1 | 2696 | 0 | 0 |
| VANGUARD SCOTTSDALE FDS | SHS | G25839104 |  | 271230 | 3000 | SH |  | DFND | 1 | 3000 | 0 | 0 |
| VANGUARD SCOTTSDALE FDS | COM | 303250104 |  | 266382 | 178 | SH |  | DFND | 1 | 178 | 0 | 0 |
| VANGUARD SPECIALIZED FUNDS | CL A NEW | 00183L201 |  | 250632 | 15414 | SH |  | DFND | 1 | 15414 | 0 | 0 |
| VANGUARD STAR FDS | COM | 75513E101 |  | 249824 | 1493 | SH |  | DFND | 1 | 1493 | 0 | 0 |
| VANGUARD TAX-MANAGED FDS | COM | 29414B104 |  | 242772 | 1610 | SH |  | DFND | 1 | 1610 | 0 | 0 |
| VANGUARD WHITEHALL FDS | COM | 053015103 |  | 223060 | 760 | SH |  | DFND | 1 | 760 | 0 | 0 |
| VANGUARD WORLD FD | COM | 217204106 |  | 216216 | 4808 | SH |  | DFND | 1 | 4808 | 0 | 0 |
| VIMEO INC | COM | 88080T104 |  | 211304 | 18503 | SH |  | DFND | 1 | 18503 | 0 | 0 |
| VISA INC | S MC 400VL ETF | 464287705 |  | 209109 | 1612 | SH |  | DFND | 1 | 1612 | 0 | 0 |
| WABTEC | COM | 172908105 |  | 205260 | 1000 | SH |  | DFND | 1 | 1000 | 0 | 0 |
| WALMART INC | VANGUARD ULTRA | 92203C303 |  | 204430 | 4089 | SH |  | DFND | 1 | 4089 | 0 | 0 |
| WASTE MGMT INC DEL | SP SMCP600VL ETF | 464287879 |  | 203043 | 1836 | SH |  | DFND | 1 | 1836 | 0 | 0 |
| WAYFAIR INC | COM | 254687106 |  | 203009 | 1773 | SH |  | DFND | 1 | 1773 | 0 | 0 |
| WORKDAY INC | COMMON STOCK | 92719V100 |  | 116769 | 15067 | SH |  | DFND | 1 | 15067 | 0 | 0 |

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