# EDGAR Filing Document

**Accession Number:** 0000842180
**File Stem:** 0001193125-25-282256
**Filing Date:** 2025-11
**Character Count:** 76879
**Document Hash:** 6f9ceb7d1fb4d6b7cc645b02aa52ba69
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-25-282256.hdr.sgml**: 20251114

**ACCESSION NUMBER**: 0001193125-25-282256

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

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251114

**DATE AS OF CHANGE**: 20251114

**EFFECTIVENESS DATE**: 20251114

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
- **CENTRAL INDEX KEY:** 0000842180
- **STANDARD INDUSTRIAL CLASSIFICATION:** COMMERCIAL BANKS, NEC [6029]
- **ORGANIZATION NAME:** 02 Finance
- **EIN:** 133491492
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-19997
- **FILM NUMBER:** 251483122

**BUSINESS ADDRESS:**
- **STREET 1:** CALLE AZUL 4
- **CITY:** MADRID
- **STATE:** U3
- **ZIP:** 28050
- **BUSINESS PHONE:** 011 34 91 537 8172

**MAIL ADDRESS:**
- **STREET 1:** CALLE AZUL 4
- **CITY:** MADRID
- **STATE:** U3
- **ZIP:** 28050

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** BANCO BILBAO VIZCAYA ARGENTARIA S A
- **DATE OF NAME CHANGE:** 20000505

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** BANCO BILBAO VIZCAYA S A
- **DATE OF NAME CHANGE:** 19991103

### 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:** BANCO BILBAO VIZCAYA ARGENTARIA S.A.<br>**Address:** CALLE AZUL 4<br>Madrid, U3 28050

**Form 13F File Number:** 028-19997

**SEC File Number (if applicable):** 1-10110

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:** Maria Angeles Pelaez Moron<br>**Title:** Chief Accounting Officer<br>**Phone:** 0034915373764

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

/s/ Maria Angeles Pelaez Moron  Madrid, U3  11-14-2025<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:** 11

**Form 13F Information Table Entry Total:** 727

**Form 13F Information Table Value Total:** $13072532251

      (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   |
|:---|:---|:---|
|  | BANCO BILBAO VIZCAYA ARGENTARIA SA                 |  |
|  | BBVA ASSET MANAGEMENT S.A. SGIIC                   |  |
|  | BBVA Asset Management Argentina S.A.U              |  |
|  | BBVA Asset Management Continental                  |  |
|  | BBVA Asset Management Mexico                       |  |
|  | BBVA FIDUCIARIA                                    |  |
|  | BBVA MEXICO SA INSTITUCION DE BANCA MULTIPLE GRUPO |  |
|  | BBVA SEGUROS MEXICO SA DE CV GRUPO FINANCIERO BBVA |  |
|  | Garanti Asset Management                           |  |
|  | PROPEL VENTURE PARTNERS GLOBAL US LP               |  |
|  | PROPEL VENTURE PARTNERS US FUND I L.P.             |  |

### 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 |
| SPDR S 500 ETF TRUST | ETF | 78462F103 |  | 1923729720 | 2900388 | SH |  | DFND | 125789 | 2900388 | 0 | 0 |
| APPLE INC | COM | 037833100 |  | 631298909 | 2479363 | SH |  | DFND | 12589 | 2479363 | 0 | 0 |
| NVIDIA CORPORATION | COM | 67066G104 |  | 610348360 | 3273384 | SH |  | DFND | 25789 | 3273384 | 0 | 0 |
| MICROSOFT CORP | COM | 594918104 |  | 603753856 | 1166303 | SH |  | DFND | 25789 | 1166303 | 0 | 0 |
| ALPHABET INC | CAP STK CL A | 02079K305 |  | 342791296 | 1411264 | SH |  | DFND | 125789 | 1411264 | 0 | 0 |
| META PLATFORMS INC | CL A | 30303M102 |  | 340268193 | 463410 | SH |  | DFND | 125789 | 463410 | 0 | 0 |
| AMAZON COM INC | COM | 023135106 |  | 291073900 | 1326563 | SH |  | DFND | 125789 | 1326563 | 0 | 0 |
| ISHARES CORE S 500 ETF | ETF | 464287200 |  | 230693087 | 345688 | SH |  | DFND | 1568 | 345688 | 0 | 0 |
| ALPHABET INC | CAP STK CL C | 02079K107 |  | 230688845 | 947319 | SH |  | DFND | 125 | 947319 | 0 | 0 |
| BROADCOM INC | COM | 11135F101 |  | 217163775 | 658889 | SH |  | DFND | 125789 | 658889 | 0 | 0 |
| SPDR BLOOMBERG BARCLAYS 1-3 MONTH T-BILL ETF | ETF | 78468R663 |  | 214874188 | 2344759 | SH |  | DFND | 589 | 2344759 | 0 | 0 |
| SPDR GOLD SHARES | ETF | 78463V107 |  | 140409587 | 397919 | SH |  | DFND | 19 | 397919 | 0 | 0 |
| ISHARES SHORT TREASURY BOND ETF | ETF | 464288679 |  | 137407599 | 1245071 | SH |  | DFND | 589 | 1245071 | 0 | 0 |
| VANGUARD SHORT-TERM CORPORATE BOND ETF | ETF | 92206C409 |  | 127558920 | 1597968 | SH |  | DFND | 8 | 1597968 | 0 | 0 |
| VISA INC | COM CL A | 92826C839 |  | 118112467 | 346092 | SH |  | DFND | 12579 | 346092 | 0 | 0 |
| TECHNOLOGY SELECT SECTOR SPDR FUND | ETF | 81369Y803 |  | 107225351 | 380869 | SH |  | DFND | 14578 | 380869 | 0 | 0 |
| MASTERCARD INCORPORATED | CL A | 57636Q104 |  | 99788284 | 175485 | SH |  | DFND | 125789 | 175485 | 0 | 0 |
| ISHARES RUSSELL 2000 ETF | ETF | 464287655 |  | 96443950 | 401280 | SH |  | DFND | 15789 | 401280 | 0 | 0 |
| DISNEY WALT CO | COM | 254687106 |  | 92917685 | 811844 | SH |  | DFND | 125789 | 811844 | 0 | 0 |
| COINBASE GLOBAL INC | COM CL A | 19260Q107 |  | 92722864 | 276747 | SH |  | DFND | 25101 | 276747 | 0 | 0 |
| TESLA INC | COM | 88160R101 |  | 92155616 | 209199 | SH |  | DFND | 125789 | 209199 | 0 | 0 |
| PALANTIR TECHNOLOGIES INC | CL A | 69608A108 |  | 88412755 | 485004 | SH |  | DFND | 1259 | 485004 | 0 | 0 |
| ISHARES MSCI EMERGING MARKETS ETF | ETF | 464287234 |  | 84566812 | 1588068 | SH |  | DFND | 1569 | 1588068 | 0 | 0 |
| JPMORGAN CHASE  CO. | COM | 46625H100 |  | 83770727 | 265602 | SH |  | DFND | 259 | 265602 | 0 | 0 |
| WALMART INC | COM | 931142103 |  | 82855587 | 804144 | SH |  | DFND | 25789 | 804144 | 0 | 0 |
| ABBVIE INC | COM | 00287Y109 |  | 82541027 | 356703 | SH |  | DFND | 12589 | 356703 | 0 | 0 |
| ORACLE CORP | COM | 68389X105 |  | 82157659 | 292386 | SH |  | DFND | 125789 | 292386 | 0 | 0 |
| COMMUNICATION SERVICES SELECT SECTOR SPDR FUND | ETF | 81369Y852 |  | 79189676 | 669712 | SH |  | DFND | 158 | 669712 | 0 | 0 |
| FINANCIAL SELECT SECTOR SPDR FUND | ETF | 81369Y605 |  | 69826792 | 1297712 | SH |  | DFND | 158 | 1297712 | 0 | 0 |
| ISHARES MSCI ACWI ETF | ETF | 464288257 |  | 69654856 | 504245 | SH |  | DFND | 156 | 504245 | 0 | 0 |
| ISHARES MSCI SOUTH KOREA ETF | ETF | 464286772 |  | 65847974 | 823077 | SH |  | DFND | 1578 | 823077 | 0 | 0 |
| INTERNATIONAL BUSINESS MACHS | COM | 459200101 |  | 64944039 | 230090 | SH |  | DFND | 1259 | 230090 | 0 | 0 |
| WELLS FARGO CO NEW | COM | 949746101 |  | 64108502 | 765127 | SH |  | DFND | 12589 | 765127 | 0 | 0 |
| GILEAD SCIENCES INC | COM | 375558103 |  | 63820189 | 574798 | SH |  | DFND | 1259 | 574798 | 0 | 0 |
| CISCO SYS INC | COM | 17275R102 |  | 63542577 | 928832 | SH |  | DFND | 1279 | 928832 | 0 | 0 |
| BERKSHIRE HATHAWAY INC DEL | CL B NEW | 084670702 |  | 60664075 | 120733 | SH |  | DFND | 1259 | 120733 | 0 | 0 |
| SALESFORCE INC | COM | 79466L302 |  | 59317149 | 250084 | SH |  | DFND | 12579 | 250084 | 0 | 0 |
| SERVICENOW INC | COM | 81762P102 |  | 58853317 | 63951 | SH |  | DFND | 125789 | 63951 | 0 | 0 |
| ISHARES MSCI BRAZIL ETF | ETF | 464286400 |  | 57333384 | 1860351 | SH |  | DFND | 1578 | 1860351 | 0 | 0 |
| BANK AMERICA CORP | COM | 060505104 |  | 56763206 | 1100922 | SH |  | DFND | 1259 | 1100922 | 0 | 0 |
| APPLOVIN CORP | COM CL A | 03831W108 |  | 56213607 | 78376 | SH |  | DFND | 129 | 78376 | 0 | 0 |
| ADVANCED MICRO DEVICES INC | COM | 007903107 |  | 55011913 | 340418 | SH |  | DFND | 12579 | 340418 | 0 | 0 |
| ELI LILLY  CO | COM | 532457108 |  | 54656210 | 72043 | SH |  | DFND | 125789 | 72043 | 0 | 0 |
| ADOBE INC | COM | 00724F101 |  | 53167997 | 150450 | SH |  | DFND | 12579 | 150450 | 0 | 0 |
| ALIBABA GROUP HLDG LTD | SPONSORED ADS | 01609W102 |  | 52865478 | 294446 | SH |  | DFND | 259 | 294446 | 0 | 0 |
| QUALCOMM INC | COM | 747525103 |  | 50178090 | 301731 | SH |  | DFND | 12579 | 301731 | 0 | 0 |
| NETFLIX INC | COM | 64110L106 |  | 49452020 | 41385 | SH |  | DFND | 12579 | 41385 | 0 | 0 |
| NEXTERA ENERGY INC | COM | 65339F101 |  | 49397691 | 654823 | SH |  | DFND | 258 | 654823 | 0 | 0 |
| BOOKING HOLDINGS INC | COM | 09857L108 |  | 49344952 | 9140 | SH |  | DFND | 1259 | 9140 | 0 | 0 |
| INTUIT INC | Common Stock | 461202103 |  | 47641714 | 69667 | SH |  | DFND | 12589 | 69667 | 0 | 0 |
| LOWES COS INC | COM | 548661107 |  | 47284131 | 188229 | SH |  | DFND | 12589 | 188229 | 0 | 0 |
| ISHARES MSCI CHINA ETF | ETF | 46429B671 |  | 46849930 | 712244 | SH |  | DFND | 158 | 712244 | 0 | 0 |
| PFIZER INC | COM | 717081103 |  | 44894836 | 1767812 | SH |  | DFND | 1257 | 1767812 | 0 | 0 |
| GOLDMAN SACHS GROUP INC | COM | 38141G104 |  | 44217460 | 55572 | SH |  | DFND | 1259 | 55572 | 0 | 0 |
| MERCK  CO INC | COM | 58933Y105 |  | 43526544 | 519889 | SH |  | DFND | 1259 | 519889 | 0 | 0 |
| LAM RESEARCH CORP | COM NEW | 512807306 |  | 42616206 | 318464 | SH |  | DFND | 129 | 318464 | 0 | 0 |
| INVESCO QQQ TRUST SERIES 1 | ETF | 46090E103 |  | 42553222 | 71090 | SH |  | DFND | 15789 | 71090 | 0 | 0 |
| CORNING INC | COM | 219350105 |  | 41237529 | 502965 | SH |  | DFND | 1259 | 502965 | 0 | 0 |
| CAPITAL ONE FINL CORP | COM | 14040H105 |  | 40955205 | 192653 | SH |  | DFND | 29 | 192653 | 0 | 0 |
| INTEL CORP | COM | 458140100 |  | 40922749 | 1220674 | SH |  | DFND | 1279 | 1220674 | 0 | 0 |
| KLA CORP | COM NEW | 482480100 |  | 39572299 | 36728 | SH |  | DFND | 129 | 36728 | 0 | 0 |
| PAYPAL HLDGS INC | COM | 70450Y103 |  | 39565133 | 586588 | SH |  | DFND | 1259 | 586588 | 0 | 0 |
| COSTCO WHSL CORP NEW | COM | 22160K105 |  | 39498884 | 42697 | SH |  | DFND | 259 | 42697 | 0 | 0 |
| VERTEX PHARMACEUTICALS INC | COM | 92532F100 |  | 38426566 | 98153 | SH |  | DFND | 12589 | 98153 | 0 | 0 |
| ARISTA NETWORKS INC | COM SHS | 040413205 |  | 37476603 | 257476 | SH |  | DFND | 1259 | 257476 | 0 | 0 |
| AT INC | COM | 00206R102 |  | 36552173 | 1294332 | SH |  | DFND | 129 | 1294332 | 0 | 0 |
| ISHARES 3-7 YEAR TREASURY BOND ETF | ETF | 464288661 |  | 36436413 | 305198 | SH |  | DFND | 58 | 305198 | 0 | 0 |
| SCHWAB CHARLES CORP | COM | 808513105 |  | 35066688 | 367281 | SH |  | DFND | 129 | 367281 | 0 | 0 |
| VANGUARD INTL EQUITY INDEX F | TT WRLD ST ETF | 922042742 |  | 34615360 | 251200 | SH |  | DFND | 2 | 251200 | 0 | 0 |
| ISHARES MSCI CANADA ETF | ETF | 464286509 |  | 33481685 | 663041 | SH |  | DFND | 58 | 663041 | 0 | 0 |
| TJX COS INC NEW | COM | 872540109 |  | 33442685 | 231393 | SH |  | DFND | 259 | 231393 | 0 | 0 |
| SCHLUMBERGER LTD | COM STK | 806857108 |  | 33207765 | 967508 | SH |  | DFND | 1257 | 967508 | 0 | 0 |
| JOHNSON  JOHNSON | COM | 478160104 |  | 33207397 | 179150 | SH |  | DFND | 125 | 179150 | 0 | 0 |
| ISHARES MSCI TAIWAN ETF | ETF | 46434G772 |  | 32571807 | 512501 | SH |  | DFND | 58 | 512501 | 0 | 0 |
| VERIZON COMMUNICATIONS INC | COM | 92343V104 |  | 30965961 | 704613 | SH |  | DFND | 12 | 704613 | 0 | 0 |
| BRISTOL-MYERS SQUIBB CO | COM | 110122108 |  | 29594754 | 656339 | SH |  | DFND | 1259 | 656339 | 0 | 0 |
| BAKER HUGHES COMPANY | CL A | 05722G100 |  | 29372847 | 603192 | SH |  | DFND | 1258 | 603192 | 0 | 0 |
| MICRON TECHNOLOGY INC | COM | 595112103 |  | 29367781 | 175899 | SH |  | DFND | 12579 | 175899 | 0 | 0 |
| AMERICAN EXPRESS CO | COM | 025816109 |  | 28414518 | 85574 | SH |  | DFND | 12589 | 85574 | 0 | 0 |
| VANGUARD FTSE EUROPE ETF | ETF | 922042874 |  | 28379003 | 355796 | SH |  | DFND | 568 | 355796 | 0 | 0 |
| MCDONALDS CORP | COM | 580135101 |  | 28044227 | 92342 | SH |  | DFND | 1258 | 92342 | 0 | 0 |
| CROWDSTRIKE HLDGS INC | CL A | 22788C105 |  | 27618893 | 56466 | SH |  | DFND | 129 | 56466 | 0 | 0 |
| ROBINHOOD MKTS INC | COM CL A | 770700102 |  | 27021999 | 188832 | SH |  | DFND | 125 | 188832 | 0 | 0 |
| T-MOBILE US INC | COM | 872590104 |  | 26751073 | 111758 | SH |  | DFND | 129 | 111758 | 0 | 0 |
| ELECTRONIC ARTS INC | COM | 285512109 |  | 26532876 | 131587 | SH |  | DFND | 1257 | 131587 | 0 | 0 |
| ABRDN SILVER ETF TRUST | PHYSCL SILVR SHS | 003264108 |  | 26468940 | 600000 | SH |  | DFND | 9 | 600000 | 0 | 0 |
| AUTODESK INC | COM | 052769106 |  | 26407804 | 83121 | SH |  | DFND | 1259 | 83121 | 0 | 0 |
| TAKE-TWO INTERACTIVE SOFTWAR | COM | 874054109 |  | 26365672 | 102085 | SH |  | DFND | 1259 | 102085 | 0 | 0 |
| ISHARES JP MORGAN USD EMERGING MARKETS BOND ETF | ETF | 464288281 |  | 26222266 | 275479 | SH |  | DFND | 56 | 275479 | 0 | 0 |
| ISHARES 20 YEAR TREASURY BOND ETF | ETF | 464287432 |  | 25827729 | 289276 | SH |  | DFND | 58 | 289276 | 0 | 0 |
| VANGUARD WORLD FD | ESG US CORP BD | 921910691 |  | 25802021 | 402429 | SH |  | DFND | 8 | 402429 | 0 | 0 |
| MORGAN STANLEY | COM NEW | 617446448 |  | 25629917 | 161430 | SH |  | DFND | 12589 | 161430 | 0 | 0 |
| GENERAL MTRS CO | COM | 37045V100 |  | 25599646 | 420203 | SH |  | DFND | 1259 | 420203 | 0 | 0 |
| UNITEDHEALTH GROUP INC | COM | 91324P102 |  | 25476403 | 73896 | SH |  | DFND | 12579 | 73896 | 0 | 0 |
| ISHARES SILVER TRUST | ETF | 46428Q109 |  | 25447873 | 605000 | SH |  | DFND | 9 | 605000 | 0 | 0 |
| ISHARES IBOXX $ INVESTMENT GRADE CORPORATE BOND ETF | ETF | 464287242 |  | 25114873 | 225569 | SH |  | DFND | 58 | 225569 | 0 | 0 |
| MERCADOLIBRE INC | COM | 58733R102 |  | 24510740 | 10387 | SH |  | DFND | 1579 | 10387 | 0 | 0 |
| UBER TECHNOLOGIES INC | COM | 90353T100 |  | 24218617 | 247919 | SH |  | DFND | 12579 | 247919 | 0 | 0 |
| NEWMONT CORP | COM | 651639106 |  | 24214369 | 287281 | SH |  | DFND | 127 | 287281 | 0 | 0 |
| AMGEN INC | COM | 031162100 |  | 23775677 | 84363 | SH |  | DFND | 129 | 84363 | 0 | 0 |
| PROCTER AND GAMBLE CO | COM | 742718109 |  | 23455936 | 152733 | SH |  | DFND | 125 | 152733 | 0 | 0 |
| EXXON MOBIL CORP | COM | 30231G102 |  | 23169945 | 205452 | SH |  | DFND | 129 | 205452 | 0 | 0 |
| PALO ALTO NETWORKS INC | COM | 697435105 |  | 23150946 | 113521 | SH |  | DFND | 12579 | 113521 | 0 | 0 |
| STRYKER CORPORATION | COM | 863667101 |  | 22984797 | 62198 | SH |  | DFND | 12589 | 62198 | 0 | 0 |
| CVS HEALTH CORP | COM | 126650100 |  | 22826976 | 302935 | SH |  | DFND | 1279 | 302935 | 0 | 0 |
| BANK NEW YORK MELLON CORP | COM | 064058100 |  | 22740830 | 208707 | SH |  | DFND | 12 | 208707 | 0 | 0 |
| SYNOPSYS INC | COM | 871607107 |  | 22398981 | 45528 | SH |  | DFND | 12579 | 45528 | 0 | 0 |
| COMCAST CORP NEW | CL A | 20030N101 |  | 22265499 | 708555 | SH |  | DFND | 29 | 708555 | 0 | 0 |
| INTUITIVE SURGICAL INC | Common Stock | 46120E602 |  | 21442161 | 47974 | SH |  | DFND | 1259 | 47974 | 0 | 0 |
| AUTOZONE INC | COM | 053332102 |  | 21315442 | 4966 | SH |  | DFND | 127 | 4966 | 0 | 0 |
| VANGUARD MALVERN FDS | STRM INFPROIDX | 922020805 |  | 21269190 | 420584 | SH |  | DFND | 58 | 420584 | 0 | 0 |
| TRAVELERS COMPANIES INC | COM | 89417E109 |  | 21244410 | 76101 | SH |  | DFND | 1258 | 76101 | 0 | 0 |
| REGENERON PHARMACEUTICALS | COM | 75886F107 |  | 21150127 | 37625 | SH |  | DFND | 12589 | 37625 | 0 | 0 |
| ABBOTT LABS | COM | 002824100 |  | 21056710 | 157256 | SH |  | DFND | 129 | 157256 | 0 | 0 |
| APPLIED MATLS INC | COM | 038222105 |  | 20801315 | 101402 | SH |  | DFND | 1279 | 101402 | 0 | 0 |
| NEUROCRINE BIOSCIENCES INC | COM | 64125C109 |  | 20746442 | 147789 | SH |  | DFND | 29 | 147789 | 0 | 0 |
| FORTINET INC | COM | 34959E109 |  | 20571390 | 244616 | SH |  | DFND | 129 | 244616 | 0 | 0 |
| GALLAGHER ARTHUR J  CO | COM | 363576109 |  | 20397520 | 65889 | SH |  | DFND | 2589 | 65889 | 0 | 0 |
| ANALOG DEVICES INC | COM | 032654105 |  | 20292469 | 82598 | SH |  | DFND | 1259 | 82598 | 0 | 0 |
| VANECK VECTORS GOLD MINERS ETF | ETF | 92189F106 |  | 20286099 | 267203 | SH |  | DFND | 1 | 267203 | 0 | 0 |
| CITIGROUP INC | COM NEW | 172967424 |  | 19733807 | 194357 | SH |  | DFND | 29 | 194357 | 0 | 0 |
| NOVO-NORDISK A S | ADR | 670100205 |  | 19499617 | 357521 | SH |  | DFND | 129 | 357521 | 0 | 0 |
| WARNER BROS DISCOVERY INC | COM SER A | 934423104 |  | 19490611 | 998188 | SH |  | DFND | 129 | 998188 | 0 | 0 |
| WORKDAY INC | CL A | 98138H101 |  | 19459352 | 80726 | SH |  | DFND | 1279 | 80726 | 0 | 0 |
| BIOGEN INC | COM | 09062X103 |  | 19404188 | 138654 | SH |  | DFND | 12 | 138654 | 0 | 0 |
| EBAY INC. | COM | 278642103 |  | 19195790 | 211078 | SH |  | DFND | 125 | 211078 | 0 | 0 |
| TEXAS INSTRS INC | COM | 882508104 |  | 18934298 | 103138 | SH |  | DFND | 1259 | 103138 | 0 | 0 |
| MARATHON PETE CORP | COM | 56585A102 |  | 18927099 | 98203 | SH |  | DFND | 12 | 98203 | 0 | 0 |
| FISERV INC | COM | 337738108 |  | 18637482 | 144664 | SH |  | DFND | 129 | 144664 | 0 | 0 |
| CINTAS CORP | COM | 172908105 |  | 18141302 | 88394 | SH |  | DFND | 29 | 88394 | 0 | 0 |
| EMERSON ELEC CO | COM | 291011104 |  | 18118643 | 138123 | SH |  | DFND | 12 | 138123 | 0 | 0 |
| DOORDASH INC | CL A | 25809K105 |  | 17896182 | 65819 | SH |  | DFND | 1259 | 65819 | 0 | 0 |
| ISHARES INC | MSCI ITALY ETF | 46434G830 |  | 17427204 | 335763 | SH |  | DFND | 5 | 335763 | 0 | 0 |
| PROGRESSIVE CORP | COM | 743315103 |  | 17292432 | 70044 | SH |  | DFND | 258 | 70044 | 0 | 0 |
| EDWARDS LIFESCIENCES CORP | COM | 28176E108 |  | 17002727 | 218749 | SH |  | DFND | 12578 | 218749 | 0 | 0 |
| TRUIST FINL CORP | COM | 89832Q109 |  | 16841711 | 368651 | SH |  | DFND | 12 | 368651 | 0 | 0 |
| KINDER MORGAN INC DEL | COM | 49456B101 |  | 16709921 | 590248 | SH |  | DFND | 2 | 590248 | 0 | 0 |
| OREILLY AUTOMOTIVE INC | COM | 67103H107 |  | 16639097 | 154352 | SH |  | DFND | 12579 | 154352 | 0 | 0 |
| BLACKSTONE INC | COM | 09260D107 |  | 16558669 | 97082 | SH |  | DFND | 1258 | 97082 | 0 | 0 |
| FIDELITY NATL INFORMATION SV | COM | 31620M106 |  | 16379187 | 248393 | SH |  | DFND | 129 | 248393 | 0 | 0 |
| TARGET CORP | COM | 87612E106 |  | 16170119 | 180298 | SH |  | DFND | 257 | 180298 | 0 | 0 |
| HARTFORD INSURANCE GROUP INC | COM | 416515104 |  | 16153109 | 121095 | SH |  | DFND | 12 | 121095 | 0 | 0 |
| VALERO ENERGY CORP | COM | 91913Y100 |  | 16144394 | 94823 | SH |  | DFND | 27 | 94823 | 0 | 0 |
| ALLSTATE CORP | COM | 020002101 |  | 16123005 | 75113 | SH |  | DFND | 2 | 75113 | 0 | 0 |
| THERMO FISHER SCIENTIFIC INC | COM | 883556102 |  | 16044539 | 33110 | SH |  | DFND | 259 | 33110 | 0 | 0 |
| AMPHENOL CORP NEW | CL A | 032095101 |  | 16014883 | 129473 | SH |  | DFND | 259 | 129473 | 0 | 0 |
| SOUTHERN CO | COM | 842587107 |  | 15814855 | 166958 | SH |  | DFND | 1258 | 166958 | 0 | 0 |
| LENNAR CORP | CL A | 526057104 |  | 15516522 | 123226 | SH |  | DFND | 125 | 123226 | 0 | 0 |
| MARVELL TECHNOLOGY INC | COM | 573874104 |  | 15415080 | 184021 | SH |  | DFND | 1259 | 184021 | 0 | 0 |
| SNOWFLAKE INC | CL A | 833445109 |  | 15413673 | 68357 | SH |  | DFND | 1259 | 68357 | 0 | 0 |
| COLGATE PALMOLIVE CO | COM | 194162103 |  | 15180237 | 189894 | SH |  | DFND | 29 | 189894 | 0 | 0 |
| HOME DEPOT INC | COM | 437076102 |  | 15051210 | 37155 | SH |  | DFND | 12579 | 37155 | 0 | 0 |
| DELTA AIR LINES INC DEL | COM NEW | 247361702 |  | 14875850 | 262475 | SH |  | DFND | 12579 | 262475 | 0 | 0 |
| LAUDER ESTEE COS INC | CL A | 518439104 |  | 14691857 | 166980 | SH |  | DFND | 127 | 166980 | 0 | 0 |
| KEYSIGHT TECHNOLOGIES INC | COM | 49338L103 |  | 14631602 | 83694 | SH |  | DFND | 127 | 83694 | 0 | 0 |
| HIPPO HLDGS INC | COM NEW | 433539202 |  | 14594063 | 403590 | SH |  | DFND | 11 | 403590 | 0 | 0 |
| FAIR ISAAC CORP | COM | 303250104 |  | 14506771 | 9685 | SH |  | DFND | 12 | 9685 | 0 | 0 |
| KROGER CO | COM | 501044101 |  | 14453193 | 214411 | SH |  | DFND | 12 | 214411 | 0 | 0 |
| DANAHER CORPORATION | COM | 235851102 |  | 14176380 | 72032 | SH |  | DFND | 129 | 72032 | 0 | 0 |
| ISHARES CHINA LARGE-CAP ETF | ETF | 464287184 |  | 14115030 | 343700 | SH |  | DFND | 17 | 343700 | 0 | 0 |
| CORTEVA INC | COM | 22052L104 |  | 13795641 | 204006 | SH |  | DFND | 129 | 204006 | 0 | 0 |
| ISHARES TR | IBOXX HI YD ETF | 464288513 |  | 13781291 | 169894 | SH |  | DFND | 5 | 169894 | 0 | 0 |
| CROWN CASTLE INC | COM | 22822V101 |  | 13562643 | 140570 | SH |  | DFND | 12 | 140570 | 0 | 0 |
| CLOUDFLARE INC | CL A COM | 18915M107 |  | 13420394 | 62553 | SH |  | DFND | 1259 | 62553 | 0 | 0 |
| MONDELEZ INTL INC | CL A | 609207105 |  | 13221720 | 211588 | SH |  | DFND | 12589 | 211588 | 0 | 0 |
| WABTEC | COM | 929740108 |  | 13196740 | 65829 | SH |  | DFND | 2 | 65829 | 0 | 0 |
| WILLIAMS COS INC | COM | 969457100 |  | 13146084 | 207522 | SH |  | DFND | 12 | 207522 | 0 | 0 |
| RESMED INC | COM | 761152107 |  | 13119060 | 47928 | SH |  | DFND | 12 | 47928 | 0 | 0 |
| PEPSICO INC | COM | 713448108 |  | 13078187 | 93116 | SH |  | DFND | 129 | 93116 | 0 | 0 |
| SPDR DOW JONES INDUSTRIAL AVERAGE ETF TRUST | ETF | 78467X109 |  | 13001983 | 28152 | SH |  | DFND | 1 | 28152 | 0 | 0 |
| BLOCK INC | CL A | 852234103 |  | 12966755 | 179382 | SH |  | DFND | 1259 | 179382 | 0 | 0 |
| AMERIPRISE FINL INC | COM | 03076C106 |  | 12650809 | 25765 | SH |  | DFND | 258 | 25765 | 0 | 0 |
| CHEVRON CORP NEW | COM | 166764100 |  | 12580016 | 81037 | SH |  | DFND | 257 | 81037 | 0 | 0 |
| INTERACTIVE BROKERS GROUP IN | COM CL A | 45841N107 |  | 12437270 | 180748 | SH |  | DFND | 2 | 180748 | 0 | 0 |
| HCA HEALTHCARE INC | COM | 40412C101 |  | 12388869 | 29068 | SH |  | DFND | 125 | 29068 | 0 | 0 |
| NORTHROP GRUMMAN CORP | COM | 666807102 |  | 12235409 | 20095 | SH |  | DFND | 258 | 20095 | 0 | 0 |
| KIMBERLY-CLARK CORP | COM | 494368103 |  | 11884588 | 95566 | SH |  | DFND | 2 | 95566 | 0 | 0 |
| HOWMET AEROSPACE INC | COM | 443201108 |  | 11750458 | 59905 | SH |  | DFND | 258 | 59905 | 0 | 0 |
| VULCAN MATLS CO | COM | 929160109 |  | 11587261 | 37697 | SH |  | DFND | 258 | 37697 | 0 | 0 |
| CADENCE DESIGN SYSTEM INC | COM | 127387108 |  | 11541818 | 32897 | SH |  | DFND | 129 | 32897 | 0 | 0 |
| M  T BK CORP | COM | 55261F104 |  | 11303074 | 57196 | SH |  | DFND | 2 | 57196 | 0 | 0 |
| ISHARES 7-10 YEAR TREASURY BOND ETF | ETF | 464287440 |  | 11062370 | 114834 | SH |  | DFND | 8 | 114834 | 0 | 0 |
| GE AEROSPACE | COM NEW | 369604301 |  | 11053093 | 36799 | SH |  | DFND | 129 | 36799 | 0 | 0 |
| DEVON ENERGY CORP NEW | COM | 25179M103 |  | 11021451 | 314459 | SH |  | DFND | 12 | 314459 | 0 | 0 |
| BOEING CO | COM | 097023105 |  | 10822339 | 50409 | SH |  | DFND | 129 | 50409 | 0 | 0 |
| CME GROUP INC | COM | 12572Q105 |  | 10797592 | 39960 | SH |  | DFND | 2579 | 39960 | 0 | 0 |
| ISHARES CORE U.S. AGGREGATE BOND ETF | ETF | 464287226 |  | 10682657 | 106698 | SH |  | DFND | 68 | 106698 | 0 | 0 |
| VEEVA SYS INC | CL A COM | 922475108 |  | 10667696 | 35899 | SH |  | DFND | 12 | 35899 | 0 | 0 |
| METTLER TOLEDO INTERNATIONAL | COM | 592688105 |  | 10663692 | 8715 | SH |  | DFND | 127 | 8715 | 0 | 0 |
| CATERPILLAR INC | COM | 149123101 |  | 10606236 | 22251 | SH |  | DFND | 1259 | 22251 | 0 | 0 |
| GE VERNOVA INC | COM | 36828A101 |  | 10505732 | 17170 | SH |  | DFND | 129 | 17170 | 0 | 0 |
| INVESCO S 500 EQUAL WEIGHT ETF | ETF | 46137V357 |  | 10415919 | 54961 | SH |  | DFND | 125 | 54961 | 0 | 0 |
| BOSTON SCIENTIFIC CORP | COM | 101137107 |  | 10225320 | 104785 | SH |  | DFND | 259 | 104785 | 0 | 0 |
| DEERE  CO | COM | 244199105 |  | 10172010 | 22254 | SH |  | DFND | 12589 | 22254 | 0 | 0 |
| ALNYLAM PHARMACEUTICALS INC | COM | 02043Q107 |  | 10139160 | 22235 | SH |  | DFND | 2 | 22235 | 0 | 0 |
| FASTENAL CO | COM | 311900104 |  | 10135391 | 206676 | SH |  | DFND | 2 | 206676 | 0 | 0 |
| WESTERN DIGITAL CORP | COM | 958102105 |  | 10121468 | 84634 | SH |  | DFND | 127 | 84634 | 0 | 0 |
| PINTEREST INC | CL A | 72352L106 |  | 10050162 | 312539 | SH |  | DFND | 15 | 312539 | 0 | 0 |
| DELL TECHNOLOGIES INC | CL C | 24703L202 |  | 10027148 | 72155 | SH |  | DFND | 1279 | 72155 | 0 | 0 |
| CHARTER COMMUNICATIONS INC N | CL A | 16119P108 |  | 9865052 | 35731 | SH |  | DFND | 12 | 35731 | 0 | 0 |
| THE CIGNA GROUP | COM | 125523100 |  | 9838982 | 34114 | SH |  | DFND | 1279 | 34114 | 0 | 0 |
| ZOOM COMMUNICATIONS INC | CL A | 98980L101 |  | 9837888 | 118410 | SH |  | DFND | 125 | 118410 | 0 | 0 |
| COCA COLA CO | COM | 191216100 |  | 9782265 | 147482 | SH |  | DFND | 1279 | 147482 | 0 | 0 |
| STARBUCKS CORP | COM | 855244109 |  | 9714700 | 114942 | SH |  | DFND | 129 | 114942 | 0 | 0 |
| DOLLAR GEN CORP NEW | COM | 256677105 |  | 9623795 | 93141 | SH |  | DFND | 12 | 93141 | 0 | 0 |
| J P MORGAN EXCHANGE TRADED F | BETABUILDERS EUR | 46641Q191 |  | 9616946 | 138279 | SH |  | DFND | 5 | 138279 | 0 | 0 |
| ROBLOX CORP | CL A | 771049103 |  | 9603156 | 69625 | SH |  | DFND | 159 | 69625 | 0 | 0 |
| HP INC | COM | 40434L105 |  | 9529601 | 349987 | SH |  | DFND | 29 | 349987 | 0 | 0 |
| KRAFT HEINZ CO | COM | 500754106 |  | 9450220 | 362948 | SH |  | DFND | 12 | 362948 | 0 | 0 |
| MOTOROLA SOLUTIONS INC | COM NEW | 620076307 |  | 9391864 | 20552 | SH |  | DFND | 12 | 20552 | 0 | 0 |
| NIKE INC | CL B | 654106103 |  | 9386740 | 135486 | SH |  | DFND | 1259 | 135486 | 0 | 0 |
| ROSS STORES INC | COM | 778296103 |  | 9322441 | 61222 | SH |  | DFND | 25 | 61222 | 0 | 0 |
| CHIPOTLE MEXICAN GRILL INC | COM | 169656105 |  | 9147077 | 233751 | SH |  | DFND | 12589 | 233751 | 0 | 0 |
| IDEXX LABS INC | COM | 45168D104 |  | 9010691 | 14140 | SH |  | DFND | 12 | 14140 | 0 | 0 |
| LULULEMON ATHLETICA INC | COM | 550021109 |  | 8965045 | 50370 | SH |  | DFND | 127 | 50370 | 0 | 0 |
| CANADIAN NATL RY CO | COM | 136375102 |  | 8807620 | 93400 | SH |  | DFND | 2 | 93400 | 0 | 0 |
| AMERICAN INTL GROUP INC | COM NEW | 026874784 |  | 8661077 | 110276 | SH |  | DFND | 2 | 110276 | 0 | 0 |
| DOLLAR TREE INC | COM | 256746108 |  | 8388453 | 88899 | SH |  | DFND | 12 | 88899 | 0 | 0 |
| ZSCALER INC | COM | 98980G102 |  | 8090214 | 27077 | SH |  | DFND | 129 | 27077 | 0 | 0 |
| ISHARES PHLX SEMICONDUCTOR ETF | ETF | 464287523 |  | 7919270 | 29422 | SH |  | DFND | 179 | 29422 | 0 | 0 |
| TAPESTRY INC | COM | 876030107 |  | 7899732 | 69897 | SH |  | DFND | 129 | 69897 | 0 | 0 |
| VANECK ETF TRUST | SEMICONDUCTR ETF | 92189F676 |  | 7892300 | 24284 | SH |  | DFND | 1 | 24284 | 0 | 0 |
| PROLOGIS INC. | COM | 74340W103 |  | 7855112 | 68724 | SH |  | DFND | 12589 | 68724 | 0 | 0 |
| ASML Holding NV | NY Reg Shrs | N07059210 |  | 7638145 | 7887 | SH |  | DFND | 159 | 7887 | 0 | 0 |
| US BANCORP DEL | COM NEW | 902973304 |  | 7311269 | 151638 | SH |  | DFND | 12589 | 151638 | 0 | 0 |
| CAMECO CORP | COM | 13321L108 |  | 7235978 | 87049 | SH |  | DFND | 1 | 87049 | 0 | 0 |
| FREEPORT-MCMORAN INC | CL B | 35671D857 |  | 7199695 | 185469 | SH |  | DFND | 125 | 185469 | 0 | 0 |
| COGNIZANT TECHNOLOGY SOLUTIO | CL A | 192446102 |  | 7135585 | 106386 | SH |  | DFND | 29 | 106386 | 0 | 0 |
| ISHARES 1-3 YEAR TREASURY BOND ETF | ETF | 464287457 |  | 7023466 | 84768 | SH |  | DFND | 8 | 84768 | 0 | 0 |
| OCCIDENTAL PETE CORP | COM | 674599105 |  | 6962193 | 147566 | SH |  | DFND | 12 | 147566 | 0 | 0 |
| JABIL INC | COM | 466313103 |  | 6952609 | 32067 | SH |  | DFND | 12 | 32067 | 0 | 0 |
| VANGUARD S 500 ETF | ETF | 922908363 |  | 6938931 | 11346 | SH |  | DFND | 8 | 11346 | 0 | 0 |
| ULTA BEAUTY INC | COM | 90384S303 |  | 6903179 | 12655 | SH |  | DFND | 12 | 12655 | 0 | 0 |
| S GLOBAL INC | COM | 78409V104 |  | 6848303 | 14072 | SH |  | DFND | 1279 | 14072 | 0 | 0 |
| CANADIAN PACIFIC KANSAS CITY | COM | 13646K108 |  | 6838182 | 91800 | SH |  | DFND | 2 | 91800 | 0 | 0 |
| HUBSPOT INC | COM | 443573100 |  | 6814395 | 14536 | SH |  | DFND | 12 | 14536 | 0 | 0 |
| PHILIP MORRIS INTL INC | COM | 718172109 |  | 6811913 | 41997 | SH |  | DFND | 2 | 41997 | 0 | 0 |
| MARRIOTT INTL INC NEW | CL A | 571903202 |  | 6783372 | 26048 | SH |  | DFND | 2589 | 26048 | 0 | 0 |
| HASBRO INC | COM | 418056107 |  | 6781463 | 89499 | SH |  | DFND | 1257 | 89499 | 0 | 0 |
| GLOBUS MED INC | CL A | 379577208 |  | 6734093 | 117585 | SH |  | DFND | 2 | 117585 | 0 | 0 |
| EXPEDIA GROUP INC | COM NEW | 30212P303 |  | 6679108 | 31264 | SH |  | DFND | 129 | 31264 | 0 | 0 |
| SYNCHRONY FINANCIAL | COM | 87165B103 |  | 6519086 | 91795 | SH |  | DFND | 12 | 91795 | 0 | 0 |
| FORD MTR CO | COM | 345370860 |  | 6483171 | 541980 | SH |  | DFND | 1259 | 541980 | 0 | 0 |
| AMERICAN TOWER CORP NEW | COM | 03027X100 |  | 6480071 | 33696 | SH |  | DFND | 129 | 33696 | 0 | 0 |
| ATLASSIAN CORPORATION | CL A | 049468101 |  | 6472902 | 40512 | SH |  | DFND | 129 | 40512 | 0 | 0 |
| BEST BUY INC | COM | 086516101 |  | 6436192 | 85709 | SH |  | DFND | 127 | 85709 | 0 | 0 |
| RTX CORPORATION | COM | 75513E101 |  | 6422835 | 38392 | SH |  | DFND | 129 | 38392 | 0 | 0 |
| CARRIER GLOBAL CORPORATION | COM | 14448C104 |  | 6338908 | 106256 | SH |  | DFND | 2589 | 106256 | 0 | 0 |
| ARM HOLDINGS PLC | SPONSORED ADS | 042068205 |  | 6298930 | 44997 | SH |  | DFND | 19 | 44997 | 0 | 0 |
| CONSTELLATION BRANDS INC | CL A | 21036P108 |  | 6298885 | 46802 | SH |  | DFND | 127 | 46802 | 0 | 0 |
| VERISIGN INC | COM | 92343E102 |  | 6170949 | 22073 | SH |  | DFND | 2 | 22073 | 0 | 0 |
| NETAPP INC | COM | 64110D104 |  | 6078789 | 51470 | SH |  | DFND | 12 | 51470 | 0 | 0 |
| INTERCONTINENTAL EXCHANGE IN | COM | 45866F104 |  | 5982186 | 35525 | SH |  | DFND | 2579 | 35525 | 0 | 0 |
| STATE STR CORP | COM | 857477103 |  | 5912682 | 50967 | SH |  | DFND | 2 | 50967 | 0 | 0 |
| CONSTELLATION ENERGY CORP | COM | 21037T109 |  | 5898904 | 17903 | SH |  | DFND | 129 | 17903 | 0 | 0 |
| WILLIAMS SONOMA INC | COM | 969904101 |  | 5828761 | 29882 | SH |  | DFND | 12 | 29882 | 0 | 0 |
| FEDEX CORP | COM | 31428X106 |  | 5827337 | 24712 | SH |  | DFND | 2 | 24712 | 0 | 0 |
| GODADDY INC | CL A | 380237107 |  | 5821677 | 42527 | SH |  | DFND | 12 | 42527 | 0 | 0 |
| GLOBAL PMTS INC | COM | 37940X102 |  | 5809648 | 69947 | SH |  | DFND | 129 | 69947 | 0 | 0 |
| UNION PAC CORP | COM | 907818108 |  | 5797317 | 24548 | SH |  | DFND | 129 | 24548 | 0 | 0 |
| BLACKROCK INC | COM | 09290D101 |  | 5790407 | 4967 | SH |  | DFND | 129 | 4967 | 0 | 0 |
| MOSAIC CO NEW | COM | 61945C103 |  | 5789621 | 166644 | SH |  | DFND | 129 | 166644 | 0 | 0 |
| FOX CORP | CL A COM | 35137L105 |  | 5780550 | 91463 | SH |  | DFND | 12 | 91463 | 0 | 0 |
| SHOPIFY INC | CL A | 82509L107 |  | 5707997 | 38857 | SH |  | DFND | 19 | 38857 | 0 | 0 |
| ISHARES CURRENCY HEDGED MSCI JAPAN ETF | ETF | 46434V886 |  | 5570296 | 113068 | SH |  | DFND | 6 | 113068 | 0 | 0 |
| ISHARES MSCI JAPAN ETF | ETF | 46434G822 |  | 5538810 | 69151 | SH |  | DFND | 158 | 69151 | 0 | 0 |
| ENERGY SELECT SECTOR SPDR FUND | ETF | 81369Y506 |  | 5533532 | 62067 | SH |  | DFND | 17 | 62067 | 0 | 0 |
| VALE S A | SPONSORED ADS | 91912E105 |  | 5509888 | 511654 | SH |  | DFND | 12 | 511654 | 0 | 0 |
| ECOLAB INC | COM | 278865100 |  | 5478883 | 20008 | SH |  | DFND | 12 | 20008 | 0 | 0 |
| 3M CO | COM | 88579Y101 |  | 5417700 | 34926 | SH |  | DFND | 12 | 34926 | 0 | 0 |
| ISHARES MSCI EUROZONE ETF | ETF | 464286608 |  | 5318915 | 85969 | SH |  | DFND | 568 | 85969 | 0 | 0 |
| ZEBRA TECHNOLOGIES CORPORATI | CL A | 989207105 |  | 5291866 | 17853 | SH |  | DFND | 12 | 17853 | 0 | 0 |
| VICI PPTYS INC | COM | 925652109 |  | 5279243 | 161931 | SH |  | DFND | 12 | 161931 | 0 | 0 |
| AIRBNB INC | COM CL A | 009066101 |  | 5270807 | 43395 | SH |  | DFND | 1259 | 43395 | 0 | 0 |
| SYSCO CORP | COM | 871829107 |  | 5245871 | 63717 | SH |  | DFND | 279 | 63717 | 0 | 0 |
| HALLIBURTON CO | COM | 406216101 |  | 5183786 | 210801 | SH |  | DFND | 12 | 210801 | 0 | 0 |
| MARSH  MCLENNAN COS INC | COM | 571748102 |  | 5159388 | 25604 | SH |  | DFND | 29 | 25604 | 0 | 0 |
| NORTHERN TR CORP | COM | 665859104 |  | 5154776 | 38297 | SH |  | DFND | 2 | 38297 | 0 | 0 |
| ISHARES MSCI EAFE ETF | ETF | 464287465 |  | 5131991 | 55112 | SH |  | DFND | 1 | 55112 | 0 | 0 |
| BECTON DICKINSON  CO | COM | 075887109 |  | 5097267 | 27263 | SH |  | DFND | 125 | 27263 | 0 | 0 |
| EQUINIX INC | COM | 29444U700 |  | 5090669 | 6504 | SH |  | DFND | 129 | 6504 | 0 | 0 |
| EAGLE MATLS INC | COM | 26969P108 |  | 5076170 | 21802 | SH |  | DFND | 5 | 21802 | 0 | 0 |
| HEWLETT PACKARD ENTERPRISE C | COM | 42824C109 |  | 4977638 | 204954 | SH |  | DFND | 1259 | 204954 | 0 | 0 |
| AUTOMATIC DATA PROCESSING IN | COM | 053015103 |  | 4862740 | 16633 | SH |  | DFND | 1279 | 16633 | 0 | 0 |
| ENPHASE ENERGY INC | COM | 29355A107 |  | 4814588 | 136936 | SH |  | DFND | 19 | 136936 | 0 | 0 |
| CITIZENS FINL GROUP INC | COM | 174610105 |  | 4782553 | 89976 | SH |  | DFND | 12 | 89976 | 0 | 0 |
| LOEWS CORP | COM | 540424108 |  | 4725844 | 47079 | SH |  | DFND | 127 | 47079 | 0 | 0 |
| GEN DIGITAL INC | COM | 668771108 |  | 4696596 | 165683 | SH |  | DFND | 129 | 165683 | 0 | 0 |
| REGIONS FINANCIAL CORP NEW | COM | 7591EP100 |  | 4688470 | 177865 | SH |  | DFND | 12 | 177865 | 0 | 0 |
| SKYWORKS SOLUTIONS INC | COM | 83088M102 |  | 4677240 | 60799 | SH |  | DFND | 129 | 60799 | 0 | 0 |
| F5 INC | COM | 315616102 |  | 4673168 | 14460 | SH |  | DFND | 29 | 14460 | 0 | 0 |
| RALPH LAUREN CORP | CL A | 751212101 |  | 4593169 | 14650 | SH |  | DFND | 12 | 14650 | 0 | 0 |
| CINCINNATI FINL CORP | COM | 172062101 |  | 4499684 | 28461 | SH |  | DFND | 2 | 28461 | 0 | 0 |
| CONOCOPHILLIPS | COM | 20825C104 |  | 4497617 | 47526 | SH |  | DFND | 129 | 47526 | 0 | 0 |
| VANGUARD INTL EQUITY INDEX F | FTSE PACIFIC ETF | 922042866 |  | 4448664 | 50714 | SH |  | DFND | 8 | 50714 | 0 | 0 |
| FIFTH THIRD BANCORP | COM | 316773100 |  | 4447827 | 99839 | SH |  | DFND | 2 | 99839 | 0 | 0 |
| ENTERGY CORP NEW | COM | 29364G103 |  | 4432984 | 47604 | SH |  | DFND | 258 | 47604 | 0 | 0 |
| AGNICO EAGLE MINES LTD | COM | 008474108 |  | 4422970 | 26411 | SH |  | DFND | 129 | 26411 | 0 | 0 |
| LABCORP HOLDINGS INC | COM SHS | 504922105 |  | 4399794 | 15329 | SH |  | DFND | 127 | 15329 | 0 | 0 |
| QUEST DIAGNOSTICS INC | COM | 74834L100 |  | 4325404 | 22697 | SH |  | DFND | 27 | 22697 | 0 | 0 |
| SEA LTD | SPONSORD ADS | 81141R100 |  | 4290161 | 24215 | SH |  | DFND | 1 | 24215 | 0 | 0 |
| CLOROX CO DEL | COM | 189054109 |  | 4255837 | 34589 | SH |  | DFND | 12 | 34589 | 0 | 0 |
| ISHARES MSCI GERMANY ETF | ETF | 464286806 |  | 4235337 | 101888 | SH |  | DFND | 58 | 101888 | 0 | 0 |
| HONEYWELL INTL INC | COM | 438516106 |  | 4213590 | 20033 | SH |  | DFND | 129 | 20033 | 0 | 0 |
| MCKESSON CORP | COM | 58155Q103 |  | 4198812 | 5452 | SH |  | DFND | 12 | 5452 | 0 | 0 |
| UNITED RENTALS INC | COM | 911363109 |  | 4187584 | 4389 | SH |  | DFND | 12578 | 4389 | 0 | 0 |
| TAIWAN SEMICONDUCTOR MFG LTD | SPONSORED ADS | 874039100 |  | 4175735 | 15114 | SH |  | DFND | 279 | 15114 | 0 | 0 |
| BERKLEY W R CORP | COM | 084423102 |  | 4154030 | 54216 | SH |  | DFND | 2 | 54216 | 0 | 0 |
| GENERAL MLS INC | COM | 370334104 |  | 4143862 | 82184 | SH |  | DFND | 12 | 82184 | 0 | 0 |
| LOCKHEED MARTIN CORP | COM | 539830109 |  | 4113813 | 8247 | SH |  | DFND | 12 | 8247 | 0 | 0 |
| AKAMAI TECHNOLOGIES INC | COM | 00971T101 |  | 4089346 | 54040 | SH |  | DFND | 12 | 54040 | 0 | 0 |
| HUMANA INC | COM | 444859102 |  | 4065290 | 15624 | SH |  | DFND | 27 | 15624 | 0 | 0 |
| SNAP ON INC | COM | 833034101 |  | 4051975 | 11693 | SH |  | DFND | 2 | 11693 | 0 | 0 |
| MAGNA INTL INC | COM | 559222401 |  | 4031352 | 85103 | SH |  | DFND | 2 | 85103 | 0 | 0 |
| THE TRADE DESK INC | COM CL A | 88339J105 |  | 4028234 | 82857 | SH |  | DFND | 12 | 82857 | 0 | 0 |
| UNITED PARCEL SERVICE INC | CL B | 911312106 |  | 3897830 | 46754 | SH |  | DFND | 127 | 46754 | 0 | 0 |
| DATADOG INC | CL A COM | 23804L103 |  | 3876294 | 27128 | SH |  | DFND | 129 | 27128 | 0 | 0 |
| VERALTO CORP | COM SHS | 92338C103 |  | 3860022 | 36325 | SH |  | DFND | 125 | 36325 | 0 | 0 |
| OPEN TEXT CORP | COM | 683715106 |  | 3843279 | 102843 | SH |  | DFND | 2 | 102843 | 0 | 0 |
| PAYCHEX INC | COM | 704326107 |  | 3837532 | 30274 | SH |  | DFND | 2 | 30274 | 0 | 0 |
| CORPAY INC | COM SHS | 219948106 |  | 3821533 | 13264 | SH |  | DFND | 12 | 13264 | 0 | 0 |
| HEALTH CARE SELECT SECTOR SPDR FUND | ETF | 81369Y209 |  | 3799387 | 27725 | SH |  | DFND | 17 | 27725 | 0 | 0 |
| LIQUIDIA CORPORATION | COM NEW | 53635D202 |  | 3790894 | 165820 | SH |  | DFND | 9 | 165820 | 0 | 0 |
| WELLTOWER INC | COM | 95040Q104 |  | 3786356 | 21262 | SH |  | DFND | 129 | 21262 | 0 | 0 |
| UTILITIES SELECT SECTOR SPDR FUND | ETF | 81369Y886 |  | 3761816 | 43386 | SH |  | DFND | 1 | 43386 | 0 | 0 |
| PTC INC | COM | 69370C100 |  | 3735957 | 18402 | SH |  | DFND | 125 | 18402 | 0 | 0 |
| VERISK ANALYTICS INC | COM | 92345Y106 |  | 3715151 | 14781 | SH |  | DFND | 25 | 14781 | 0 | 0 |
| PARAMOUNT SKYDANCE CORP | COM CL B | 69932A204 |  | 3694494 | 211265 | SH |  | DFND | 12 | 211265 | 0 | 0 |
| CROCS INC | COM | 227046109 |  | 3599790 | 43502 | SH |  | DFND | 1 | 43502 | 0 | 0 |
| C H ROBINSON WORLDWIDE INC | COM NEW | 12541W209 |  | 3578640 | 27029 | SH |  | DFND | 2 | 27029 | 0 | 0 |
| ELEVANCE HEALTH INC | COM | 036752103 |  | 3566979 | 11074 | SH |  | DFND | 1279 | 11074 | 0 | 0 |
| SUPER MICRO COMPUTER INC | COM NEW | 86800U302 |  | 3542592 | 75004 | SH |  | DFND | 12 | 75004 | 0 | 0 |
| TRIMBLE INC | COM | 896239100 |  | 3528896 | 43376 | SH |  | DFND | 127 | 43376 | 0 | 0 |
| FORTIVE CORP | COM | 34959J108 |  | 3516355 | 71777 | SH |  | DFND | 2 | 71777 | 0 | 0 |
| SPDR S REGIONAL BANKING ETF | ETF | 78464A698 |  | 3504688 | 55904 | SH |  | DFND | 1 | 55904 | 0 | 0 |
| WYNN RESORTS LTD | COM | 983134107 |  | 3502693 | 27036 | SH |  | DFND | 129 | 27036 | 0 | 0 |
| MASCO CORP | COM | 574599106 |  | 3500424 | 49729 | SH |  | DFND | 2 | 49729 | 0 | 0 |
| EQUITY RESIDENTIAL | SH BEN INT | 29476L107 |  | 3466732 | 53554 | SH |  | DFND | 12 | 53554 | 0 | 0 |
| KENVUE INC | COM | 49177J102 |  | 3457928 | 213203 | SH |  | DFND | 25 | 213203 | 0 | 0 |
| BUILDERS FIRSTSOURCE INC | COM | 12008R107 |  | 3439415 | 28537 | SH |  | DFND | 12 | 28537 | 0 | 0 |
| OMNICOM GROUP INC | COM | 681919106 |  | 3387898 | 41554 | SH |  | DFND | 2 | 41554 | 0 | 0 |
| ZOETIS INC | CL A | 98978V103 |  | 3332199 | 22878 | SH |  | DFND | 129 | 22878 | 0 | 0 |
| DIGITAL RLTY TR INC | COM | 253868103 |  | 3295088 | 19249 | SH |  | DFND | 12 | 19249 | 0 | 0 |
| STANLEY BLACK  DECKER INC | COM | 854502101 |  | 3280467 | 44193 | SH |  | DFND | 12 | 44193 | 0 | 0 |
| INCYTE CORP | COM | 45337C102 |  | 3277737 | 38648 | SH |  | DFND | 2 | 38648 | 0 | 0 |
| INDUSTRIAL SELECT SECTOR SPDR FUND | ETF | 81369Y704 |  | 3217034 | 20969 | SH |  | DFND | 1 | 20969 | 0 | 0 |
| HOLOGIC INC | COM | 436440101 |  | 3212524 | 47600 | SH |  | DFND | 2 | 47600 | 0 | 0 |
| COPART INC | COM | 217204106 |  | 3195193 | 71094 | SH |  | DFND | 25 | 71094 | 0 | 0 |
| HEALTHPEAK PROPERTIES INC | COM | 42250P103 |  | 3193693 | 166808 | SH |  | DFND | 12 | 166808 | 0 | 0 |
| WASTE MGMT INC DEL | COM | 94106L109 |  | 3154924 | 14290 | SH |  | DFND | 129 | 14290 | 0 | 0 |
| CDW CORP | COM | 12514G108 |  | 3116981 | 19578 | SH |  | DFND | 127 | 19578 | 0 | 0 |
| Invesco Ltd | Common Stock | G491BT108 |  | 3088687 | 134642 | SH |  | DFND | 2 | 134642 | 0 | 0 |
| MICROCHIP TECHNOLOGY INC. | COM | 595017104 |  | 3084439 | 48024 | SH |  | DFND | 129 | 48024 | 0 | 0 |
| CENTENE CORP DEL | COM | 15135B101 |  | 3070775 | 86477 | SH |  | DFND | 1279 | 86477 | 0 | 0 |
| MICROSTRATEGY INC | CL A NEW | 594972408 |  | 3060878 | 9533 | SH |  | DFND | 129 | 9533 | 0 | 0 |
| MOODYS CORP | COM | 615369105 |  | 3025463 | 6349 | SH |  | DFND | 279 | 6349 | 0 | 0 |
| GLOBE LIFE INC | COM | 37959E102 |  | 2999940 | 20983 | SH |  | DFND | 2 | 20983 | 0 | 0 |
| ALTRIA GROUP INC | COM | 02209S103 |  | 2996385 | 45351 | SH |  | DFND | 12 | 45351 | 0 | 0 |
| GENERAC HLDGS INC | COM | 368736104 |  | 2984012 | 17825 | SH |  | DFND | 12 | 17825 | 0 | 0 |
| ISHARES MSCI INDIA ETF | ETF | 46429B598 |  | 2970020 | 57102 | SH |  | DFND | 58 | 57102 | 0 | 0 |
| INTERNATIONAL FLAVORS | COM | 459506101 |  | 2959028 | 48083 | SH |  | DFND | 2 | 48083 | 0 | 0 |
| SPDR S OIL  GAS EXPLORATION  PRODUCTION ETF | ETF | 78468R556 |  | 2955209 | 22370 | SH |  | DFND | 17 | 22370 | 0 | 0 |
| CSX CORP | COM | 126408103 |  | 2950291 | 83088 | SH |  | DFND | 129 | 83088 | 0 | 0 |
| DECKERS OUTDOOR CORP | COM | 243537107 |  | 2949766 | 29099 | SH |  | DFND | 2 | 29099 | 0 | 0 |
| SMUCKER J M CO | COM NEW | 832696405 |  | 2939372 | 27072 | SH |  | DFND | 12 | 27072 | 0 | 0 |
| DUPONT DE NEMOURS INC | COM | 26614N102 |  | 2938233 | 37980 | SH |  | DFND | 12 | 37980 | 0 | 0 |
| VIATRIS INC | COM | 92556V106 |  | 2935083 | 296473 | SH |  | DFND | 2 | 296473 | 0 | 0 |
| D R HORTON INC | COM | 23331A109 |  | 2934126 | 17443 | SH |  | DFND | 12 | 17443 | 0 | 0 |
| KIMCO RLTY CORP | COM | 49446R109 |  | 2917876 | 133553 | SH |  | DFND | 12 | 133553 | 0 | 0 |
| HOST HOTELS  RESORTS INC | COM | 44107P104 |  | 2912129 | 171132 | SH |  | DFND | 12 | 171132 | 0 | 0 |
| AMERICAN AIRLS GROUP INC | COM | 02376R102 |  | 2910972 | 262245 | SH |  | DFND | 19 | 262245 | 0 | 0 |
| ISHARES U.S. REAL ESTATE ETF | ETF | 464287739 |  | 2881240 | 29872 | SH |  | DFND | 17 | 29872 | 0 | 0 |
| ROPER TECHNOLOGIES INC | COM | 776696106 |  | 2859085 | 5734 | SH |  | DFND | 259 | 5734 | 0 | 0 |
| INTERPUBLIC GROUP COS INC | COM | 460690100 |  | 2838280 | 101694 | SH |  | DFND | 2 | 101694 | 0 | 0 |
| PARKER-HANNIFIN CORP | COM | 701094104 |  | 2798850 | 3694 | SH |  | DFND | 12 | 3694 | 0 | 0 |
| FOX CORP | CL B COM | 35137L204 |  | 2762237 | 48215 | SH |  | DFND | 2 | 48215 | 0 | 0 |
| BXP INC | COM | 101121101 |  | 2760050 | 37126 | SH |  | DFND | 12 | 37126 | 0 | 0 |
| ISHARES JP MORGAN EM LOCAL CURRENCY BOND ETF | ETF | 464286517 |  | 2736848 | 66472 | SH |  | DFND | 5 | 66472 | 0 | 0 |
| MATCH GROUP INC NEW | COM | 57667L107 |  | 2682761 | 75880 | SH |  | DFND | 12 | 75880 | 0 | 0 |
| CBRE GROUP INC | CL A | 12504L109 |  | 2682592 | 17102 | SH |  | DFND | 12 | 17102 | 0 | 0 |
| MARA HOLDINGS INC | COM | 565788106 |  | 2669845 | 146204 | SH |  | DFND | 59 | 146204 | 0 | 0 |
| CARDINAL HEALTH INC | COM | 14149Y108 |  | 2645084 | 16853 | SH |  | DFND | 12 | 16853 | 0 | 0 |
| DUKE ENERGY CORP NEW | COM NEW | 26441C204 |  | 2617532 | 21152 | SH |  | DFND | 12 | 21152 | 0 | 0 |
| DOCUSIGN INC | COM | 256163106 |  | 2591918 | 35086 | SH |  | DFND | 15 | 35086 | 0 | 0 |
| KKR  CO INC | COM | 48251W104 |  | 2547311 | 19612 | SH |  | DFND | 12 | 19612 | 0 | 0 |
| MSCI INC | COM | 55354G100 |  | 2510944 | 4423 | SH |  | DFND | 12 | 4423 | 0 | 0 |
| SHERWIN WILLIAMS CO | COM | 824348106 |  | 2472676 | 7143 | SH |  | DFND | 29 | 7143 | 0 | 0 |
| BAXTER INTL INC | COM | 071813109 |  | 2453194 | 107738 | SH |  | DFND | 2 | 107738 | 0 | 0 |
| NUTRIEN LTD | COM | 67077M108 |  | 2418284 | 41264 | SH |  | DFND | 129 | 41264 | 0 | 0 |
| REPUBLIC SVCS INC | COM | 760759100 |  | 2387969 | 10406 | SH |  | DFND | 2 | 10406 | 0 | 0 |
| LKQ CORP | COM | 501889208 |  | 2379063 | 77946 | SH |  | DFND | 12 | 77946 | 0 | 0 |
| NU HOLDING LTD | Common Stock | G6683N103 |  | 2375922 | 149212 | SH |  | DFND | 15 | 149212 | 0 | 0 |
| RIO TINTO PLC | SPONSORED ADR | 767204100 |  | 2373724 | 35965 | SH |  | DFND | 12 | 35965 | 0 | 0 |
| JD.COM INC | SPON ADS CL A | 47215P106 |  | 2361298 | 67132 | SH |  | DFND | 259 | 67132 | 0 | 0 |
| DAVITA INC | COM | 23918K108 |  | 2356051 | 17732 | SH |  | DFND | 2 | 17732 | 0 | 0 |
| BURLINGTON STORES INC | COM | 122017106 |  | 2350562 | 9236 | SH |  | DFND | 2 | 9236 | 0 | 0 |
| PNC FINL SVCS GROUP INC | COM | 693475105 |  | 2347852 | 11684 | SH |  | DFND | 12 | 11684 | 0 | 0 |
| ISHARES MSCI MEXICO ETF | ETF | 464286822 |  | 2347522 | 34473 | SH |  | DFND | 135 | 34473 | 0 | 0 |
| PAYCOM SOFTWARE INC | COM | 70432V102 |  | 2335539 | 11221 | SH |  | DFND | 2 | 11221 | 0 | 0 |
| CONAGRA BRANDS INC | COM | 205887102 |  | 2325947 | 127142 | SH |  | DFND | 12 | 127142 | 0 | 0 |
| GENERAL DYNAMICS CORP | COM | 369550108 |  | 2322892 | 6812 | SH |  | DFND | 2 | 6812 | 0 | 0 |
| PULTE GROUP INC | COM | 745867101 |  | 2305040 | 17588 | SH |  | DFND | 12 | 17588 | 0 | 0 |
| CELESTICA INC | COM | 15101Q207 |  | 2287146 | 9412 | SH |  | DFND | 1 | 9412 | 0 | 0 |
| CHARLES RIV LABS INTL INC | COM | 159864107 |  | 2277901 | 14559 | SH |  | DFND | 2 | 14559 | 0 | 0 |
| BAIDU INC | SPON ADR REP A | 056752108 |  | 2251172 | 16910 | SH |  | DFND | 59 | 16910 | 0 | 0 |
| EVERSOURCE ENERGY | COM | 30040W108 |  | 2247890 | 31855 | SH |  | DFND | 127 | 31855 | 0 | 0 |
| NASDAQ INC | COM | 631103108 |  | 2226906 | 25190 | SH |  | DFND | 1257 | 25190 | 0 | 0 |
| AGILENT TECHNOLOGIES INC | COM | 00846U101 |  | 2205446 | 17323 | SH |  | DFND | 127 | 17323 | 0 | 0 |
| MONGODB INC | CL A | 60937P106 |  | 2187026 | 7043 | SH |  | DFND | 15 | 7043 | 0 | 0 |
| FRANKLIN RESOURCES INC | COM | 354613101 |  | 2186456 | 94529 | SH |  | DFND | 2 | 94529 | 0 | 0 |
| HENRY SCHEIN INC | COM | 806407102 |  | 2161140 | 32562 | SH |  | DFND | 2 | 32562 | 0 | 0 |
| MOHAWK INDS INC | COM | 608190104 |  | 2157089 | 16732 | SH |  | DFND | 2 | 16732 | 0 | 0 |
| VERTIV HOLDINGS CO | COM CL A | 92537N108 |  | 2137191 | 14459 | SH |  | DFND | 19 | 14459 | 0 | 0 |
| VANGUARD INFORMATION TECHNOLOGY ETF | ETF | 92204A702 |  | 2135977 | 2873 | SH |  | DFND | 19 | 2873 | 0 | 0 |
| CARNIVAL CORP | Common Stock | 143658300 |  | 2100366 | 72712 | SH |  | DFND | 12 | 72712 | 0 | 0 |
| INGERSOLL RAND INC | COM | 45687V106 |  | 2090304 | 25411 | SH |  | DFND | 127 | 25411 | 0 | 0 |
| WHEATON PRECIOUS METALS CORP | COM | 962879102 |  | 2073460 | 18657 | SH |  | DFND | 17 | 18657 | 0 | 0 |
| ISHARES LATIN AMERICA 40 ETF | ETF | 464287390 |  | 2033856 | 70400 | SH |  | DFND | 6 | 70400 | 0 | 0 |
| ILLINOIS TOOL WKS INC | COM | 452308109 |  | 2025844 | 7769 | SH |  | DFND | 2 | 7769 | 0 | 0 |
| GENUINE PARTS CO | COM | 372460105 |  | 2006576 | 14506 | SH |  | DFND | 12 | 14506 | 0 | 0 |
| SPDR S METALS  MINING ETF | ETF | 78464A755 |  | 2006536 | 21720 | SH |  | DFND | 1 | 21720 | 0 | 0 |
| ROKU INC | COM CL A | 77543R102 |  | 2004188 | 20331 | SH |  | DFND | 1 | 20331 | 0 | 0 |
| TRANSDIGM GROUP INC | COM | 893641100 |  | 2003390 | 1520 | SH |  | DFND | 2 | 1520 | 0 | 0 |
| NORFOLK SOUTHN CORP | COM | 655844108 |  | 1973994 | 6571 | SH |  | DFND | 2 | 6571 | 0 | 0 |
| NVR INC | COM | 62944T105 |  | 1958317 | 244 | SH |  | DFND | 12 | 244 | 0 | 0 |
| AVALONBAY CMNTYS INC | COM | 053484101 |  | 1949493 | 10128 | SH |  | DFND | 12 | 10128 | 0 | 0 |
| ISHARES MSCI PACIFIC EX JAPAN ETF | ETF | 464286665 |  | 1936089 | 37584 | SH |  | DFND | 5 | 37584 | 0 | 0 |
| EOG RES INC | COM | 26875P101 |  | 1924298 | 17167 | SH |  | DFND | 12 | 17167 | 0 | 0 |
| HUBBELL INC | COM | 443510607 |  | 1922757 | 4492 | SH |  | DFND | 12 | 4492 | 0 | 0 |
| TERADYNE INC | COM | 880770102 |  | 1915653 | 14127 | SH |  | DFND | 129 | 14127 | 0 | 0 |
| DIAGEO PLC | SPON ADR NEW | 25243Q205 |  | 1908600 | 20000 | SH |  | DFND | 2 | 20000 | 0 | 0 |
| ETSY INC | COM | 29786A106 |  | 1904390 | 28477 | SH |  | DFND | 1 | 28477 | 0 | 0 |
| QUANTA SVCS INC | COM | 74762E102 |  | 1876626 | 4530 | SH |  | DFND | 12 | 4530 | 0 | 0 |
| HILTON WORLDWIDE HLDGS INC | COM | 43300A203 |  | 1845519 | 7112 | SH |  | DFND | 29 | 7112 | 0 | 0 |
| MODERNA INC | COM | 60770K107 |  | 1836436 | 73683 | SH |  | DFND | 127 | 73683 | 0 | 0 |
| AXON ENTERPRISE INC | COM | 05464C101 |  | 1811608 | 2530 | SH |  | DFND | 29 | 2530 | 0 | 0 |
| SBA COMMUNICATIONS CORP NEW | CL A | 78410G104 |  | 1811538 | 9363 | SH |  | DFND | 12 | 9363 | 0 | 0 |
| ASTERA LABS INC | COM | 04626A103 |  | 1809699 | 9475 | SH |  | DFND | 19 | 9475 | 0 | 0 |
| APOLLO GLOBAL MGMT INC | COM | 03769M106 |  | 1799469 | 13501 | SH |  | DFND | 12 | 13501 | 0 | 0 |
| SIMON PPTY GROUP INC NEW | COM | 828806109 |  | 1785483 | 9519 | SH |  | DFND | 12 | 9519 | 0 | 0 |
| AIR PRODS  CHEMS INC | COM | 009158106 |  | 1783732 | 6542 | SH |  | DFND | 127 | 6542 | 0 | 0 |
| HERSHEY CO | COM | 427866108 |  | 1783577 | 9590 | SH |  | DFND | 12 | 9590 | 0 | 0 |
| CENCORA INC | COM | 03073E105 |  | 1774545 | 5678 | SH |  | DFND | 2 | 5678 | 0 | 0 |
| SEMPRA | COM | 816851109 |  | 1719338 | 19108 | SH |  | DFND | 2 | 19108 | 0 | 0 |
| AMERICAN ELEC PWR CO INC | COM | 025537101 |  | 1712494 | 15229 | SH |  | DFND | 12 | 15229 | 0 | 0 |
| CUMMINS INC | COM | 231021106 |  | 1704263 | 4035 | SH |  | DFND | 2 | 4035 | 0 | 0 |
| METLIFE INC | COM | 59156R108 |  | 1699064 | 20662 | SH |  | DFND | 129 | 20662 | 0 | 0 |
| VISTRA CORP | COM | 92840M102 |  | 1683541 | 8593 | SH |  | DFND | 2 | 8593 | 0 | 0 |
| EASTMAN CHEM CO | COM | 277432100 |  | 1680661 | 26656 | SH |  | DFND | 2 | 26656 | 0 | 0 |
| LENNOX INTL INC | COM | 526107107 |  | 1643105 | 3108 | SH |  | DFND | 12 | 3108 | 0 | 0 |
| INVESCO CHINA TECHNOLOGY ETF | ETF | 46138E800 |  | 1623780 | 2706 | SH |  | DFND | 7 | 2706 | 0 | 0 |
| REALTY INCOME CORP | COM | 756109104 |  | 1619326 | 26657 | SH |  | DFND | 12 | 26657 | 0 | 0 |
| PHILLIPS 66 | COM | 718546104 |  | 1609933 | 11836 | SH |  | DFND | 2 | 11836 | 0 | 0 |
| BARRICK MNG CORP | COM SHS | 06849F108 |  | 1604994 | 48779 | SH |  | DFND | 17 | 48779 | 0 | 0 |
| CURTISS WRIGHT CORP | COM | 231561101 |  | 1601472 | 2966 | SH |  | DFND | 1 | 2966 | 0 | 0 |
| DRAFTKINGS INC NEW | COM CL A | 26142V105 |  | 1583860 | 41652 | SH |  | DFND | 1 | 41652 | 0 | 0 |
| AFLAC INC | COM | 001055102 |  | 1574635 | 14097 | SH |  | DFND | 2 | 14097 | 0 | 0 |
| MONOLITHIC PWR SYS INC | COM | 609839105 |  | 1564485 | 1705 | SH |  | DFND | 129 | 1705 | 0 | 0 |
| ISHARES MSCI UNITED KINGDOM ETF | ETF | 46435G334 |  | 1556607 | 37116 | SH |  | DFND | 58 | 37116 | 0 | 0 |
| CONSUMER STAPLES SELECT SECTOR SPDR FUND | ETF | 81369Y308 |  | 1555682 | 19890 | SH |  | DFND | 1 | 19890 | 0 | 0 |
| TELEDYNE TECHNOLOGIES INC | COM | 879360105 |  | 1542077 | 2637 | SH |  | DFND | 12 | 2637 | 0 | 0 |
| L3HARRIS TECHNOLOGIES INC | COM | 502431109 |  | 1541710 | 5048 | SH |  | DFND | 2 | 5048 | 0 | 0 |
| PELOTON INTERACTIVE INC | CL A COM | 70614W100 |  | 1527504 | 167861 | SH |  | DFND | 1 | 167861 | 0 | 0 |
| STEEL DYNAMICS INC | COM | 858119100 |  | 1525829 | 10953 | SH |  | DFND | 12 | 10953 | 0 | 0 |
| PACCAR INC | COM | 693718108 |  | 1511965 | 15378 | SH |  | DFND | 2 | 15378 | 0 | 0 |
| DOW INC | COM | 260557103 |  | 1485776 | 65863 | SH |  | DFND | 12 | 65863 | 0 | 0 |
| THOMSON REUTERS CORP | COM | 884903808 |  | 1482541 | 9472 | SH |  | DFND | 179 | 9472 | 0 | 0 |
| CF INDS HLDGS INC | COM | 125269100 |  | 1476195 | 16451 | SH |  | DFND | 129 | 16451 | 0 | 0 |
| JACOBS SOLUTIONS INC | COM | 46982L108 |  | 1453105 | 9732 | SH |  | DFND | 12 | 9732 | 0 | 0 |
| EQUIFAX INC | COM | 294429105 |  | 1441511 | 5628 | SH |  | DFND | 12 | 5628 | 0 | 0 |
| GILDAN ACTIVEWEAR INC | COM | 375916103 |  | 1432402 | 25001 | SH |  | DFND | 17 | 25001 | 0 | 0 |
| DOMINION ENERGY INC | COM | 25746U109 |  | 1431921 | 23402 | SH |  | DFND | 12 | 23402 | 0 | 0 |
| PUBLIC STORAGE OPER CO | COM | 74460D109 |  | 1431918 | 4961 | SH |  | DFND | 12 | 4961 | 0 | 0 |
| WATERS CORP | COM | 941848103 |  | 1421629 | 4827 | SH |  | DFND | 127 | 4827 | 0 | 0 |
| CGI INC | CL A SUB VTG | 12532H104 |  | 1412704 | 15864 | SH |  | DFND | 2 | 15864 | 0 | 0 |
| INTERNATIONAL PAPER CO | COM | 460146103 |  | 1410409 | 30656 | SH |  | DFND | 2 | 30656 | 0 | 0 |
| ALCOA CORP | COM | 013872106 |  | 1407745 | 43587 | SH |  | DFND | 1 | 43587 | 0 | 0 |
| PLUG POWER INC | COM NEW | 72919P202 |  | 1390134 | 619455 | SH |  | DFND | 1 | 619455 | 0 | 0 |
| SPDR S BANK ETF | ETF | 78464A797 |  | 1380741 | 23424 | SH |  | DFND | 1 | 23424 | 0 | 0 |
| UPBOUND GROUP INC | COM | 76009N100 |  | 1380741 | 59332 | SH |  | DFND | 1 | 59332 | 0 | 0 |
| INSULET CORP | COM | 45784P101 |  | 1376447 | 4470 | SH |  | DFND | 12 | 4470 | 0 | 0 |
| KOHLS CORP | COM | 500255104 |  | 1350215 | 88977 | SH |  | DFND | 1 | 88977 | 0 | 0 |
| ONEOK INC NEW | COM | 682680103 |  | 1345713 | 18443 | SH |  | DFND | 27 | 18443 | 0 | 0 |
| EXELON CORP | COM | 30161N101 |  | 1345440 | 29897 | SH |  | DFND | 12 | 29897 | 0 | 0 |
| SOLAREDGE TECHNOLOGIES INC | COM | 83417M104 |  | 1340942 | 36664 | SH |  | DFND | 12 | 36664 | 0 | 0 |
| HENRY JACK  ASSOC INC | COM | 426281101 |  | 1303763 | 8742 | SH |  | DFND | 12 | 8742 | 0 | 0 |
| COOPER COS INC | COM | 216648501 |  | 1302467 | 19127 | SH |  | DFND | 12 | 19127 | 0 | 0 |
| MONSTER BEVERAGE CORP NEW | COM | 61174X109 |  | 1294439 | 19231 | SH |  | DFND | 2 | 19231 | 0 | 0 |
| SOUTHWEST AIRLS CO | COM | 844741108 |  | 1292938 | 40775 | SH |  | DFND | 129 | 40775 | 0 | 0 |
| XCEL ENERGY INC | COM | 98389B100 |  | 1286851 | 15956 | SH |  | DFND | 2 | 15956 | 0 | 0 |
| FIRSTCASH HOLDINGS INC | COM | 33768G107 |  | 1280943 | 8134 | SH |  | DFND | 1 | 8134 | 0 | 0 |
| AMETEK INC | COM | 031100100 |  | 1271444 | 6763 | SH |  | DFND | 2 | 6763 | 0 | 0 |
| GALAXY DIGITAL INC. | CL A | 36317J209 |  | 1265924 | 37476 | SH |  | DFND | 5 | 37476 | 0 | 0 |
| AVERY DENNISON CORP | COM | 053611109 |  | 1255667 | 7786 | SH |  | DFND | 12 | 7786 | 0 | 0 |
| YUM BRANDS INC | COM | 988498101 |  | 1235456 | 8128 | SH |  | DFND | 2 | 8128 | 0 | 0 |
| EQT CORP | COM | 26884L109 |  | 1235453 | 22682 | SH |  | DFND | 12 | 22682 | 0 | 0 |
| GRAINGER W W INC | COM | 384802104 |  | 1228365 | 1289 | SH |  | DFND | 2 | 1289 | 0 | 0 |
| PUBLIC SVC ENTERPRISE GRP IN | COM | 744573106 |  | 1219851 | 14616 | SH |  | DFND | 2 | 14616 | 0 | 0 |
| OKTA INC | CL A | 679295105 |  | 1181184 | 12895 | SH |  | DFND | 1579 | 12895 | 0 | 0 |
| MCGRATH RENTCORP | COM | 580589109 |  | 1172925 | 10043 | SH |  | DFND | 1 | 10043 | 0 | 0 |
| XYLEM INC | COM | 98419M100 |  | 1157049 | 7852 | SH |  | DFND | 12 | 7852 | 0 | 0 |
| ROCKWELL AUTOMATION INC | COM | 773903109 |  | 1150653 | 3292 | SH |  | DFND | 2 | 3292 | 0 | 0 |
| UNIVERSAL HLTH SVCS INC | CL B | 913903100 |  | 1150434 | 5641 | SH |  | DFND | 12 | 5641 | 0 | 0 |
| TWILIO INC | CL A | 90138F102 |  | 1147095 | 11308 | SH |  | DFND | 1 | 11308 | 0 | 0 |
| TYSON FOODS INC | CL A | 902494103 |  | 1134800 | 20989 | SH |  | DFND | 12 | 20989 | 0 | 0 |
| COSTAR GROUP INC | COM | 22160N109 |  | 1131314 | 13417 | SH |  | DFND | 12 | 13417 | 0 | 0 |
| MATERIALS SELECT SECTOR SPDR FUND | ETF | 81369Y100 |  | 1127136 | 12658 | SH |  | DFND | 1 | 12658 | 0 | 0 |
| CHEMOURS CO | COM | 163851108 |  | 1122439 | 72326 | SH |  | DFND | 1 | 72326 | 0 | 0 |
| TENABLE HLDGS INC | COM | 88025T102 |  | 1101425 | 37774 | SH |  | DFND | 59 | 37774 | 0 | 0 |
| POOL CORP | COM | 73278L105 |  | 1097456 | 3556 | SH |  | DFND | 12 | 3556 | 0 | 0 |
| ISHARES MSCI WORLD ETF | ETF | 464286392 |  | 1089360 | 6000 | SH |  | DFND | 2 | 6000 | 0 | 0 |
| PRUDENTIAL FINL INC | COM | 744320102 |  | 1069456 | 10309 | SH |  | DFND | 2 | 10309 | 0 | 0 |
| SOFI TECHNOLOGIES INC | COM | 83406F102 |  | 1067670 | 41087 | SH |  | DFND | 19 | 41087 | 0 | 0 |
| TARGA RES CORP | COM | 87612G101 |  | 1066236 | 6364 | SH |  | DFND | 12 | 6364 | 0 | 0 |
| CONSOLIDATED EDISON INC | COM | 209115104 |  | 1061793 | 10563 | SH |  | DFND | 2 | 10563 | 0 | 0 |
| HUT 8 CORP | COM | 44812J104 |  | 1060901 | 30520 | SH |  | DFND | 59 | 30520 | 0 | 0 |
| OTIS WORLDWIDE CORP | COM | 68902V107 |  | 1050896 | 11494 | SH |  | DFND | 2 | 11494 | 0 | 0 |
| GE HEALTHCARE TECHNOLOGIES I | COMMON STOCK | 36266G107 |  | 1037036 | 13820 | SH |  | DFND | 12 | 13820 | 0 | 0 |
| FACTSET RESH SYS INC | COM | 303075105 |  | 1032457 | 3612 | SH |  | DFND | 12 | 3612 | 0 | 0 |
| TELADOC HEALTH INC | COM | 87918A105 |  | 1030623 | 132275 | SH |  | DFND | 15 | 132275 | 0 | 0 |
| MORNINGSTAR INC | COM | 617700109 |  | 1026163 | 4425 | SH |  | DFND | 1 | 4425 | 0 | 0 |
| MARTIN MARIETTA MATLS INC | COM | 573284106 |  | 1025466 | 1627 | SH |  | DFND | 2 | 1627 | 0 | 0 |
| ALBEMARLE CORP | COM | 012653101 |  | 1015562 | 12606 | SH |  | DFND | 12 | 12606 | 0 | 0 |
| KEURIG DR PEPPER INC | COM | 49271V100 |  | 1014890 | 39784 | SH |  | DFND | 2 | 39784 | 0 | 0 |
| DEXCOM INC | COM | 252131107 |  | 1010861 | 15050 | SH |  | DFND | 12 | 15050 | 0 | 0 |
| ARCHER DANIELS MIDLAND CO | COM | 039483102 |  | 1003801 | 16785 | SH |  | DFND | 12 | 16785 | 0 | 0 |
| VIRTU FINL INC | CL A | 928254101 |  | 996334 | 28091 | SH |  | DFND | 5 | 28091 | 0 | 0 |
| WEC ENERGY GROUP INC | COM | 92939U106 |  | 995214 | 8685 | SH |  | DFND | 2 | 8685 | 0 | 0 |
| UNITED AIRLS HLDGS INC | COM | 910047109 |  | 991629 | 10273 | SH |  | DFND | 129 | 10273 | 0 | 0 |
| VENTAS INC | COM | 92276F100 |  | 990202 | 14153 | SH |  | DFND | 12 | 14153 | 0 | 0 |
| TENET HEALTHCARE CORP | COM NEW | 88033G407 |  | 989766 | 4875 | SH |  | DFND | 1 | 4875 | 0 | 0 |
| CORE SCIENTIFIC INC NEW | COM | 21874A106 |  | 988386 | 54684 | SH |  | DFND | 9 | 54684 | 0 | 0 |
| ARCH CAP GROUP LTD | ORD | G0450A105 |  | 987687 | 10886 | SH |  | DFND | 2 | 10886 | 0 | 0 |
| IQVIA HLDGS INC | COM | 46266C105 |  | 975634 | 5143 | SH |  | DFND | 29 | 5143 | 0 | 0 |
| ENCOMPASS HEALTH CORP | COM | 29261A100 |  | 970980 | 7635 | SH |  | DFND | 1 | 7635 | 0 | 0 |
| WILLSCOT HLDGS CORP | COM CL A | 971378104 |  | 969806 | 47137 | SH |  | DFND | 1 | 47137 | 0 | 0 |
| EXTRA SPACE STORAGE INC | COM | 30225T102 |  | 943006 | 6697 | SH |  | DFND | 12 | 6697 | 0 | 0 |
| IRON MTN INC DEL | COM | 46284V101 |  | 941558 | 9245 | SH |  | DFND | 12 | 9245 | 0 | 0 |
| LYFT INC | CL A COM | 55087P104 |  | 932235 | 42815 | SH |  | DFND | 1 | 42815 | 0 | 0 |
| RPM INTL INC | COM | 749685103 |  | 926364 | 7907 | SH |  | DFND | 1 | 7907 | 0 | 0 |
| LEIDOS HOLDINGS INC | COM | 525327102 |  | 912352 | 4846 | SH |  | DFND | 1279 | 4846 | 0 | 0 |
| PG CORP | COM | 69331C108 |  | 904765 | 59999 | SH |  | DFND | 12 | 59999 | 0 | 0 |
| EXPAND ENERGY CORPORATION | COM | 165167735 |  | 903049 | 8967 | SH |  | DFND | 12 | 8967 | 0 | 0 |
| NRG ENERGY INC | COM NEW | 629377508 |  | 902747 | 5574 | SH |  | DFND | 12 | 5574 | 0 | 0 |
| RAYMOND JAMES FINL INC | COM | 754730109 |  | 897002 | 5197 | SH |  | DFND | 2 | 5197 | 0 | 0 |
| EVERTEC INC | COM | 30040P103 |  | 885271 | 26193 | SH |  | DFND | 1 | 26193 | 0 | 0 |
| TRACTOR SUPPLY CO | COM | 892356106 |  | 882622 | 15520 | SH |  | DFND | 2 | 15520 | 0 | 0 |
| AMERICAN WTR WKS CO INC NEW | COM | 030420103 |  | 875030 | 6292 | SH |  | DFND | 12 | 6292 | 0 | 0 |
| CELSIUS HLDGS INC | COM NEW | 15118V207 |  | 874704 | 15255 | SH |  | DFND | 1 | 15255 | 0 | 0 |
| IDEX CORP | COM | 45167R104 |  | 867129 | 5351 | SH |  | DFND | 12 | 5351 | 0 | 0 |
| SPROUTS FMRS MKT INC | COM | 85208M102 |  | 863563 | 7900 | SH |  | DFND | 12 | 7900 | 0 | 0 |
| SPDR REAL ESTATE SELECT SECTOR ETF | ETF | 81369Y860 |  | 861419 | 20576 | SH |  | DFND | 19 | 20576 | 0 | 0 |
| DIAMONDBACK ENERGY INC | COM | 25278X109 |  | 857895 | 5992 | SH |  | DFND | 12 | 5992 | 0 | 0 |
| ADVANCED ENERGY INDS | COM | 007973100 |  | 856366 | 5043 | SH |  | DFND | 29 | 5043 | 0 | 0 |
| EMCOR GROUP INC | COM | 29084Q100 |  | 855301 | 1318 | SH |  | DFND | 29 | 1318 | 0 | 0 |
| TEXTRON INC | COM | 883203101 |  | 847689 | 10063 | SH |  | DFND | 12 | 10063 | 0 | 0 |
| DUOLINGO INC | CL A COM | 26603R106 |  | 839481 | 2646 | SH |  | DFND | 1 | 2646 | 0 | 0 |
| NUCOR CORP | COM | 670346105 |  | 838718 | 6193 | SH |  | DFND | 2 | 6193 | 0 | 0 |
| LAS VEGAS SANDS CORP | COM | 517834107 |  | 832943 | 15505 | SH |  | DFND | 12 | 15505 | 0 | 0 |
| BROADRIDGE FINL SOLUTIONS IN | COM | 11133T103 |  | 816923 | 3430 | SH |  | DFND | 2 | 3430 | 0 | 0 |
| NISOURCE INC | COM | 65473P105 |  | 809559 | 18727 | SH |  | DFND | 12 | 18727 | 0 | 0 |
| VANGUARD SCOTTSDALE FDS | SHORT TERM TREAS | 92206C102 |  | 797213 | 13564 | SH |  | DFND | 8 | 13564 | 0 | 0 |
| DTE ENERGY CO | COM | 233331107 |  | 792008 | 5600 | SH |  | DFND | 2 | 5600 | 0 | 0 |
| AMEREN CORP | COM | 023608102 |  | 773193 | 7406 | SH |  | DFND | 127 | 7406 | 0 | 0 |
| HUNTINGTON BANCSHARES INC | COM | 446150104 |  | 769596 | 44602 | SH |  | DFND | 12 | 44602 | 0 | 0 |
| ATMOS ENERGY CORP | COM | 049560105 |  | 757129 | 4433 | SH |  | DFND | 127 | 4433 | 0 | 0 |
| PPL CORP | COM | 69351T106 |  | 753157 | 20263 | SH |  | DFND | 127 | 20263 | 0 | 0 |
| FIRST SOLAR INC | COM | 336433107 |  | 751980 | 3406 | SH |  | DFND | 29 | 3406 | 0 | 0 |
| CBOE GLOBAL MKTS INC | COM | 12503M108 |  | 751201 | 3063 | SH |  | DFND | 2 | 3063 | 0 | 0 |
| CENTERPOINT ENERGY INC | COM | 15189T107 |  | 746552 | 19238 | SH |  | DFND | 12 | 19238 | 0 | 0 |
| HERC HLDGS INC | COM | 42704L104 |  | 743205 | 6456 | SH |  | DFND | 1 | 6456 | 0 | 0 |
| BROWN  BROWN INC | COM | 115236101 |  | 741410 | 7905 | SH |  | DFND | 2 | 7905 | 0 | 0 |
| UNITY SOFTWARE INC | COM | 91332U101 |  | 730754 | 18116 | SH |  | DFND | 19 | 18116 | 0 | 0 |
| SANDISK CORP | COM | 80004C200 |  | 729116 | 6411 | SH |  | DFND | 1 | 6411 | 0 | 0 |
| EVERGY INC | COM | 30034W106 |  | 715122 | 9427 | SH |  | DFND | 12 | 9427 | 0 | 0 |
| DARDEN RESTAURANTS INC | COM | 237194105 |  | 713925 | 3750 | SH |  | DFND | 29 | 3750 | 0 | 0 |
| BALL CORP | COM | 058498106 |  | 712989 | 14141 | SH |  | DFND | 2 | 14141 | 0 | 0 |
| OLD DOMINION FREIGHT LINE IN | COM | 679580100 |  | 702492 | 4990 | SH |  | DFND | 2 | 4990 | 0 | 0 |
| CLEANSPARK INC | COM NEW | 18452B209 |  | 699374 | 47973 | SH |  | DFND | 9 | 47973 | 0 | 0 |
| TERAWULF INC | COM | 88080T104 |  | 695889 | 59359 | SH |  | DFND | 9 | 59359 | 0 | 0 |
| LIVE NATION ENTERTAINMENT IN | COM | 538034109 |  | 695267 | 4255 | SH |  | DFND | 2 | 4255 | 0 | 0 |
| PPG INDS INC | COM | 693506107 |  | 694882 | 6611 | SH |  | DFND | 2 | 6611 | 0 | 0 |
| DOVER CORP | COM | 260003108 |  | 688774 | 4128 | SH |  | DFND | 12 | 4128 | 0 | 0 |
| HEALTHEQUITY INC | COM | 42226A107 |  | 680978 | 7254 | SH |  | DFND | 1 | 7254 | 0 | 0 |
| SOLVENTUM CORP | COM SHS | 83444M101 |  | 677701 | 9322 | SH |  | DFND | 12 | 9322 | 0 | 0 |
| BIO-TECHNE CORP | COM | 09073M104 |  | 676776 | 12640 | SH |  | DFND | 12 | 12640 | 0 | 0 |
| COMMERCIAL METALS CO | COM | 201723103 |  | 669655 | 11731 | SH |  | DFND | 12 | 11731 | 0 | 0 |
| CIPHER MINING INC | COM | 17253J106 |  | 662981 | 53041 | SH |  | DFND | 9 | 53041 | 0 | 0 |
| ON SEMICONDUCTOR CORP | COM | 682189105 |  | 662854 | 13450 | SH |  | DFND | 29 | 13450 | 0 | 0 |
| CONSUMER DISCRETIONARY SELECT SECTOR SPDR FUND | ETF | 81369Y407 |  | 662192 | 2782 | SH |  | DFND | 1 | 2782 | 0 | 0 |
| PRICE T ROWE GROUP INC | COM | 74144T108 |  | 660488 | 6435 | SH |  | DFND | 2 | 6435 | 0 | 0 |
| BITFARMS LTD | COM | 09173B107 |  | 659040 | 234129 | SH |  | DFND | 9 | 234129 | 0 | 0 |
| IONQ INC | COM | 46222L108 |  | 650714 | 10590 | SH |  | DFND | 25 | 10590 | 0 | 0 |
| FIRSTENERGY CORP | COM | 337932107 |  | 650660 | 14213 | SH |  | DFND | 12 | 14213 | 0 | 0 |
| KELLANOVA | COM | 487836108 |  | 645825 | 7874 | SH |  | DFND | 2 | 7874 | 0 | 0 |
| DROPBOX INC | CL A | 26210C104 |  | 641597 | 21257 | SH |  | DFND | 5 | 21257 | 0 | 0 |
| SNAP INC | CL A | 83304A106 |  | 631665 | 80682 | SH |  | DFND | 1 | 80682 | 0 | 0 |
| CHURCH  DWIGHT CO INC | COM | 171340102 |  | 625240 | 7135 | SH |  | DFND | 2 | 7135 | 0 | 0 |
| BIONTECH SE | SPONSORED ADS | 09075V102 |  | 624621 | 6412 | SH |  | DFND | 1 | 6412 | 0 | 0 |
| KYNDRYL HLDGS INC | COMMON STOCK | 50155Q100 |  | 623432 | 20779 | SH |  | DFND | 5 | 20779 | 0 | 0 |
| YUM CHINA HLDGS INC | COM | 98850P109 |  | 618620 | 14445 | SH |  | DFND | 19 | 14445 | 0 | 0 |
| CASEYS GEN STORES INC | COM | 147528103 |  | 615228 | 1094 | SH |  | DFND | 1 | 1094 | 0 | 0 |
| TYLER TECHNOLOGIES INC | COM | 902252105 |  | 610528 | 1167 | SH |  | DFND | 2 | 1167 | 0 | 0 |
| APA CORPORATION | COM | 03743Q108 |  | 607834 | 25209 | SH |  | DFND | 12 | 25209 | 0 | 0 |
| SUNRUN INC | COM | 86771W105 |  | 606729 | 35557 | SH |  | DFND | 19 | 35557 | 0 | 0 |
| ANHEUSER BUSCH INBEV SA/NV | SPONSORED ADR | 03524A108 |  | 594094 | 9992 | SH |  | DFND | 1 | 9992 | 0 | 0 |
| WASTE CONNECTIONS INC | COM | 94106B101 |  | 593677 | 3377 | SH |  | DFND | 2 | 3377 | 0 | 0 |
| CMS ENERGY CORP | COM | 125896100 |  | 591575 | 8075 | SH |  | DFND | 2 | 8075 | 0 | 0 |
| ZIMMER BIOMET HOLDINGS INC | COM | 98956P102 |  | 587536 | 5966 | SH |  | DFND | 12 | 5966 | 0 | 0 |
| LAMB WESTON HLDGS INC | COM | 513272104 |  | 579861 | 9965 | SH |  | DFND | 12 | 9965 | 0 | 0 |
| WATTS WATER TECHNOLOGIES INC | CL A | 942749102 |  | 579785 | 2076 | SH |  | DFND | 2 | 2076 | 0 | 0 |
| EDISON INTL | COM | 281020107 |  | 573972 | 10383 | SH |  | DFND | 2 | 10383 | 0 | 0 |
| WEYERHAEUSER CO MTN BE | COM NEW | 962166104 |  | 561384 | 22638 | SH |  | DFND | 12 | 22638 | 0 | 0 |
| INVITATION HOMES INC | COM | 46187W107 |  | 560172 | 19140 | SH |  | DFND | 12 | 19140 | 0 | 0 |
| Norwegian Cruise Line Holdings Ltd | Common Stock | G66721104 |  | 554401 | 22593 | SH |  | DFND | 129 | 22593 | 0 | 0 |
| DOMINOS PIZZA INC | COM | 25754A201 |  | 547184 | 1267 | SH |  | DFND | 12 | 1267 | 0 | 0 |
| GARTNER INC | COM | 366651107 |  | 537043 | 2043 | SH |  | DFND | 2 | 2043 | 0 | 0 |
| COTERRA ENERGY INC | COM | 127097103 |  | 529197 | 22384 | SH |  | DFND | 12 | 22384 | 0 | 0 |
| PACKAGING CORP AMER | COM | 695156109 |  | 525429 | 2411 | SH |  | DFND | 2 | 2411 | 0 | 0 |
| PRINCIPAL FINANCIAL GROUP IN | COM | 74251V102 |  | 520415 | 6285 | SH |  | DFND | 12 | 6285 | 0 | 0 |
| AFFIRM HLDGS INC | COM CL A | 00827B106 |  | 516604 | 7279 | SH |  | DFND | 1 | 7279 | 0 | 0 |
| KEYCORP | COM | 493267108 |  | 510181 | 27297 | SH |  | DFND | 2 | 27297 | 0 | 0 |
| FERGUSON ENTERPRISES INC | COMMON STOCK NEW | 31488V107 |  | 508987 | 2274 | SH |  | DFND | 2 | 2274 | 0 | 0 |
| WEST PHARMACEUTICAL SVSC INC | COM | 955306105 |  | 508920 | 1941 | SH |  | DFND | 27 | 1941 | 0 | 0 |
| GAMESTOP CORP NEW | CL A | 36467W109 |  | 508178 | 18645 | SH |  | DFND | 5 | 18645 | 0 | 0 |
| ESSEX PPTY TR INC | COM | 297178105 |  | 503938 | 1886 | SH |  | DFND | 12 | 1886 | 0 | 0 |
| MCCORMICK  CO INC | COM NON VTG | 579780206 |  | 495870 | 7411 | SH |  | DFND | 2 | 7411 | 0 | 0 |
| US FOODS HLDG CORP | COM | 912008109 |  | 494296 | 6489 | SH |  | DFND | 1 | 6489 | 0 | 0 |
| ISHARES MSCI CHILE ETF | ETF | 464286640 |  | 486285 | 14757 | SH |  | DFND | 35 | 14757 | 0 | 0 |
| TEXAS PACIFIC LAND CORPORATI | COM | 88262P102 |  | 485493 | 520 | SH |  | DFND | 2 | 520 | 0 | 0 |
| PINNACLE WEST CAP CORP | COM | 723484101 |  | 483785 | 5416 | SH |  | DFND | 12 | 5416 | 0 | 0 |
| KINROSS GOLD CORP | COM | 496902404 |  | 482591 | 19587 | SH |  | DFND | 19 | 19587 | 0 | 0 |
| REVVITY INC | COM | 714046109 |  | 482343 | 5551 | SH |  | DFND | 12 | 5551 | 0 | 0 |
| MID-AMER APT CMNTYS INC | COM | 59522J103 |  | 478978 | 3427 | SH |  | DFND | 12 | 3427 | 0 | 0 |
| LUMEN TECHNOLOGIES INC | COM | 550241103 |  | 477858 | 77673 | SH |  | DFND | 1 | 77673 | 0 | 0 |
| ALLIANT ENERGY CORP | COM | 018802108 |  | 473224 | 7017 | SH |  | DFND | 12 | 7017 | 0 | 0 |
| ANTERO RESOURCES CORP | COM | 03674X106 |  | 470814 | 13871 | SH |  | DFND | 1 | 13871 | 0 | 0 |
| PDD HOLDINGS INC | SPONSORED ADS | 722304102 |  | 458521 | 3433 | SH |  | DFND | 9 | 3433 | 0 | 0 |
| EXPEDITORS INTL WASH INC | COM | 302130109 |  | 449047 | 3663 | SH |  | DFND | 2 | 3663 | 0 | 0 |
| ROLLINS INC | COM | 775711104 |  | 445425 | 7583 | SH |  | DFND | 2 | 7583 | 0 | 0 |
| SPDR S HOMEBUILDERS ETF | ETF | 78464A888 |  | 444889 | 4054 | SH |  | DFND | 19 | 4054 | 0 | 0 |
| RH | COM | 74967X103 |  | 442635 | 2223 | SH |  | DFND | 1 | 2223 | 0 | 0 |
| AES CORP | COM | 00130H105 |  | 435976 | 33254 | SH |  | DFND | 12 | 33254 | 0 | 0 |
| Everest Re Group Ltd | Common Stock | G3223R108 |  | 430082 | 1229 | SH |  | DFND | 27 | 1229 | 0 | 0 |
| ALEXANDRIA REAL ESTATE EQ IN | COM | 015271109 |  | 419866 | 5043 | SH |  | DFND | 12 | 5043 | 0 | 0 |
| ISHARES INC | CORE MSCI EMKT | 46434G103 |  | 415296 | 6300 | SH |  | DFND | 2 | 6300 | 0 | 0 |
| ISHARES US TECHNOLOGY ETF | ETF | 464287721 |  | 407461 | 2091 | SH |  | DFND | 9 | 2091 | 0 | 0 |
| ONTO INNOVATION INC | COM | 683344105 |  | 403537 | 3121 | SH |  | DFND | 29 | 3121 | 0 | 0 |
| NETEASE INC | SPONSORED ADS | 64110W102 |  | 398408 | 2629 | SH |  | DFND | 9 | 2629 | 0 | 0 |
| HF SINCLAIR CORP | COM | 403949100 |  | 394497 | 7551 | SH |  | DFND | 1 | 7551 | 0 | 0 |
| BLUE OWL CAPITAL INC | COM CL A | 09581B103 |  | 393323 | 23617 | SH |  | DFND | 1 | 23617 | 0 | 0 |
| SONY GROUP CORP | SPONSORED ADR | 835699307 |  | 392722 | 13715 | SH |  | DFND | 9 | 13715 | 0 | 0 |
| REGENCY CTRS CORP | COM | 758849103 |  | 378251 | 5198 | SH |  | DFND | 12 | 5198 | 0 | 0 |
| TKO GROUP HOLDINGS INC | CL A | 87256C101 |  | 375848 | 1861 | SH |  | DFND | 2 | 1861 | 0 | 0 |
| TOLL BROTHERS INC | COM | 889478103 |  | 360448 | 2647 | SH |  | DFND | 1 | 2647 | 0 | 0 |
| TERNIUM SA | SPONSORED ADS | 880890108 |  | 358681 | 10337 | SH |  | DFND | 5 | 10337 | 0 | 0 |
| ATI INC | COM | 01741R102 |  | 353404 | 4349 | SH |  | DFND | 1 | 4349 | 0 | 0 |
| ISHARES MSCI POLAND ETF | ETF | 46429B606 |  | 352563 | 10959 | SH |  | DFND | 5 | 10959 | 0 | 0 |
| ABERCROMBIE  FITCH CO | CL A | 002896207 |  | 348707 | 4148 | SH |  | DFND | 1 | 4148 | 0 | 0 |
| LINDSAY CORP | COM | 535555106 |  | 339874 | 2418 | SH |  | DFND | 2 | 2418 | 0 | 0 |
| NEWS CORP NEW | CL A | 65249B109 |  | 338578 | 11025 | SH |  | DFND | 2 | 11025 | 0 | 0 |
| UDR INC | COM | 902653104 |  | 333599 | 8977 | SH |  | DFND | 12 | 8977 | 0 | 0 |
| OSHKOSH CORP | COM | 688239201 |  | 329922 | 2566 | SH |  | DFND | 1 | 2566 | 0 | 0 |
| NORDSON CORP | COM | 655663102 |  | 328624 | 1448 | SH |  | DFND | 2 | 1448 | 0 | 0 |
| ISHARES TR | CORE MSCI EURO | 46434V738 |  | 326966 | 4827 | SH |  | DFND | 9 | 4827 | 0 | 0 |
| MSA SAFETY INC | COM | 553498106 |  | 325225 | 1898 | SH |  | DFND | 1 | 1898 | 0 | 0 |
| DAYFORCE INC | COM | 15677J108 |  | 322199 | 4677 | SH |  | DFND | 2 | 4677 | 0 | 0 |
| WHIRLPOOL CORP | COM | 963320106 |  | 321703 | 4161 | SH |  | DFND | 1 | 4161 | 0 | 0 |
| ASSURANT INC | COM | 04621X108 |  | 320135 | 1478 | SH |  | DFND | 2 | 1478 | 0 | 0 |
| SAP SE | SPON ADR | 803054204 |  | 317961 | 1191 | SH |  | DFND | 5 | 1191 | 0 | 0 |
| OVINTIV INC | COM | 69047Q102 |  | 311136 | 7761 | SH |  | DFND | 1 | 7761 | 0 | 0 |
| THOR INDS INC | COM | 885160101 |  | 309962 | 3020 | SH |  | DFND | 1 | 3020 | 0 | 0 |
| CAMDEN PPTY TR | SH BEN INT | 133131102 |  | 307847 | 2884 | SH |  | DFND | 27 | 2884 | 0 | 0 |
| MURPHY OIL CORP | COM | 626717102 |  | 307614 | 10801 | SH |  | DFND | 1 | 10801 | 0 | 0 |
| HUNTINGTON INGALLS INDS INC | COM | 446413106 |  | 304609 | 1058 | SH |  | DFND | 2 | 1058 | 0 | 0 |
| HUNT J B TRANS SVCS INC | COM | 445658107 |  | 300407 | 2239 | SH |  | DFND | 2 | 2239 | 0 | 0 |
| NEW JERSEY RES CORP | COM | 646025106 |  | 297047 | 6187 | SH |  | DFND | 1 | 6187 | 0 | 0 |
| CARMAX INC | COM | 143130102 |  | 288477 | 6439 | SH |  | DFND | 12 | 6439 | 0 | 0 |
| CARPENTER TECHNOLOGY CORP | COM | 144285103 |  | 287654 | 1175 | SH |  | DFND | 1 | 1175 | 0 | 0 |
| OGE ENERGY CORP | COM | 670837103 |  | 287654 | 6246 | SH |  | DFND | 1 | 6246 | 0 | 0 |
| SOMNIGROUP INTERNATIONAL INC | COM | 88023U101 |  | 287654 | 3477 | SH |  | DFND | 1 | 3477 | 0 | 0 |
| WAYFAIR INC | CL A | 94419L101 |  | 284132 | 3270 | SH |  | DFND | 1 | 3270 | 0 | 0 |
| MOLINA HEALTHCARE INC | COM | 60855R100 |  | 279768 | 1462 | SH |  | DFND | 2 | 1462 | 0 | 0 |
| ISHARES CURRENCY HEDGED MSCI EUROZONE ETF | ETF | 46434V639 |  | 279084 | 6619 | SH |  | DFND | 6 | 6619 | 0 | 0 |
| INGREDION INC | COM | 457187102 |  | 277087 | 2281 | SH |  | DFND | 1 | 2281 | 0 | 0 |
| ONE GAS INC | COM | 68235P108 |  | 273565 | 3374 | SH |  | DFND | 1 | 3374 | 0 | 0 |
| PERMIAN RESOURCES CORP | CLASS A COM | 71424F105 |  | 272391 | 21344 | SH |  | DFND | 1 | 21344 | 0 | 0 |
| TOTALENERGIES SE | SPONSORED ADS | 89151E109 |  | 270928 | 4543 | SH |  | DFND | 5 | 4543 | 0 | 0 |
| TELEFLEX INCORPORATED | COM | 879369106 |  | 265346 | 2208 | SH |  | DFND | 1 | 2208 | 0 | 0 |
| LIBERTY MEDIA CORP DEL | COM LBTY ONE S C | 531229755 |  | 264172 | 2559 | SH |  | DFND | 1 | 2559 | 0 | 0 |
| ISHARES GLOBAL CLEAN ENERGY ETF | ETF | 464288224 |  | 264069 | 17219 | SH |  | DFND | 19 | 17219 | 0 | 0 |
| SMITH A O CORP | COM | 831865209 |  | 261316 | 3561 | SH |  | DFND | 29 | 3561 | 0 | 0 |
| ISHARES INC | MSCI AUST ETF | 464286103 |  | 260747 | 9666 | SH |  | DFND | 5 | 9666 | 0 | 0 |
| SERVICE CORP INTL | COM | 817565104 |  | 260650 | 3127 | SH |  | DFND | 1 | 3127 | 0 | 0 |
| FEDERAL RLTY INVT TR NEW | SH BEN INT NEW | 313745101 |  | 258742 | 2561 | SH |  | DFND | 127 | 2561 | 0 | 0 |
| SENSIENT TECHNOLOGIES CORP | COM | 81725T100 |  | 258302 | 2756 | SH |  | DFND | 1 | 2756 | 0 | 0 |
| MGM RESORTS INTERNATIONAL | COM | 552953101 |  | 255312 | 7307 | SH |  | DFND | 29 | 7307 | 0 | 0 |
| LOUISIANA PAC CORP | COM | 546347105 |  | 250083 | 2865 | SH |  | DFND | 1 | 2865 | 0 | 0 |
| BALCHEM CORP | COM | 057665200 |  | 247735 | 1670 | SH |  | DFND | 1 | 1670 | 0 | 0 |
| NATIONAL FUEL GAS CO | COM | 636180101 |  | 244212 | 2644 | SH |  | DFND | 1 | 2644 | 0 | 0 |
| TAYLOR MORRISON HOME CORP | COM | 87724P106 |  | 241864 | 3696 | SH |  | DFND | 1 | 3696 | 0 | 0 |
| BEYOND INC | COM | 690370101 |  | 240690 | 26451 | SH |  | DFND | 1 | 26451 | 0 | 0 |
| TREX CO INC | COM | 89531P105 |  | 240690 | 4791 | SH |  | DFND | 1 | 4791 | 0 | 0 |
| WEST FRASER TIMBER CO LTD | COM | 952845105 |  | 238562 | 3511 | SH |  | DFND | 27 | 3511 | 0 | 0 |
| TRI POINTE HOMES INC | COM | 87265H109 |  | 235994 | 7010 | SH |  | DFND | 1 | 7010 | 0 | 0 |
| PETROLEO BRASILEIRO SA PETRO | SPONSORED ADR | 71654V408 |  | 232471 | 18445 | SH |  | DFND | 1 | 18445 | 0 | 0 |
| RANGE RES CORP | COM | 75281A109 |  | 231297 | 6172 | SH |  | DFND | 1 | 6172 | 0 | 0 |
| ALIGN TECHNOLOGY INC | COM | 016255101 |  | 228949 | 1828 | SH |  | DFND | 127 | 1828 | 0 | 0 |
| MATTEL INC | COM | 577081102 |  | 227775 | 13712 | SH |  | DFND | 1 | 13712 | 0 | 0 |
| EPAM SYS INC | COM | 29414B104 |  | 226637 | 1503 | SH |  | DFND | 2 | 1503 | 0 | 0 |
| IDACORP INC | COM | 451107106 |  | 226601 | 1727 | SH |  | DFND | 1 | 1727 | 0 | 0 |
| MOLSON COORS BEVERAGE CO | CL B | 60871R209 |  | 224531 | 4962 | SH |  | DFND | 2 | 4962 | 0 | 0 |
| MDU RES GROUP INC | COM | 552690109 |  | 218382 | 12315 | SH |  | DFND | 1 | 12315 | 0 | 0 |
| ERIE INDTY CO | CL A | 29530P102 |  | 218258 | 686 | SH |  | DFND | 2 | 686 | 0 | 0 |
| ISHARES INC ISHARES ESG AWARE MSCI EM ETF | ETF | 46434G863 |  | 217137 | 5000 | SH |  | DFND | 9 | 5000 | 0 | 0 |
| GSK PLC | SPONSORED ADR | 37733W204 |  | 214894 | 4979 | SH |  | DFND | 2 | 4979 | 0 | 0 |
| PORTLAND GEN ELEC CO | COM NEW | 736508847 |  | 212512 | 4838 | SH |  | DFND | 1 | 4838 | 0 | 0 |
| HORMEL FOODS CORP | COM | 440452100 |  | 211181 | 8536 | SH |  | DFND | 2 | 8536 | 0 | 0 |
| DARLING INGREDIENTS INC | COM | 237266101 |  | 210163 | 6961 | SH |  | DFND | 1 | 6961 | 0 | 0 |
| RELIANCE INC | COM | 759509102 |  | 206641 | 744 | SH |  | DFND | 1 | 744 | 0 | 0 |
| ESSENTIAL UTILS INC | COM | 29670G102 |  | 205467 | 5179 | SH |  | DFND | 1 | 5179 | 0 | 0 |
| INVESCO SOLAR ETF | ETF | 46138G706 |  | 203119 | 4704 | SH |  | DFND | 1 | 4704 | 0 | 0 |
| BROOKFIELD INFRASTRUCTURE CO | COM SUB VTG A | 11276H106 |  | 200049 | 4865 | SH |  | DFND | 2 | 4865 | 0 | 0 |
| NOVAVAX INC | COM NEW | 670002401 |  | 196074 | 23377 | SH |  | DFND | 1 | 23377 | 0 | 0 |
| FLOWERS FOODS INC | COM | 343498101 |  | 162025 | 12598 | SH |  | DFND | 1 | 12598 | 0 | 0 |
| ARRAY TECHNOLOGIES INC | COM SHS | 04271T100 |  | 102887 | 11980 | SH |  | DFND | 9 | 11980 | 0 | 0 |
| NIU TECHNOLOGIES | ADS | 65481N100 |  | 78002 | 16242 | SH |  | DFND | 9 | 16242 | 0 | 0 |

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