# EDGAR Filing Document

**Accession Number:** 0001786379
**File Stem:** 0001214659-25-010895
**Filing Date:** 2025-7
**Character Count:** 29178
**Document Hash:** 2a4dc8458cc9dc9f19e7b945b2f8009b
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001214659-25-010895.hdr.sgml**: 20250725

**ACCESSION NUMBER**: 0001214659-25-010895

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

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250725

**DATE AS OF CHANGE**: 20250725

**EFFECTIVENESS DATE**: 20250725

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Stonehage Fleming Financial Services Holdings Ltd
- **CENTRAL INDEX KEY:** 0001786379

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** Y9
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-19583
- **FILM NUMBER:** 251148472

**BUSINESS ADDRESS:**
- **STREET 1:** 2 THE FORUM, GRENVILLE STREET
- **CITY:** ST. HELIER
- **STATE:** Y9
- **ZIP:** JE1 4HH
- **BUSINESS PHONE:** 44 1534 823 000

**MAIL ADDRESS:**
- **STREET 1:** 2 THE FORUM, GRENVILLE STREET
- **CITY:** ST. HELIER
- **STATE:** Y9
- **ZIP:** JE1 4HH

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 06-30-2025

**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:** Stonehage Fleming Financial Services Holdings Ltd<br>**Address:** 2 The Forum Grenville Street<br>St. Helier, Y9 JE1 4HH

**Form 13F File Number:** 028-19583

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:** Ian Crosby<br>**Title:** Partner - Head of Group Risk<br>**Phone:** 44-153-482-3000

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

/s/ Ian Crosby  St. Helier, Y9  07-24-2025<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:** 262

**Form 13F Information Table Value Total:** $3444201410

      (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   |
|:---|:---|:---|
|  | Stonehage Fleming Investment Management Ltd | 028-19584              |

### 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 |
| 2023 ETF SERIES TRUST II | GMO US QUALITY E | 90139K100 |  | 3075348 | 89765 | SH |  | DFND | 1 | 0 | 89765 | 0 |
| 3M CO | COM | 88579Y101 |  | 586124 | 3850 | SH |  | DFND | 1 | 0 | 3850 | 0 |
| ABBVIE INC | COM | 00287Y109 |  | 835290 | 4500 | SH |  | DFND | 1 | 0 | 4500 | 0 |
| ABRDN HEALTHCARE OPPORTUNITI | SHS | 879105104 |  | 464421 | 25254 | SH |  | OTR |  | 0 | 25254 | 0 |
| ADOBE INC | COM | 00724F101 |  | 639899 | 1654 | SH |  | DFND | 1 | 0 | 1654 | 0 |
| ADVISORSHARES TR | PURE US CANNABIS | 00768Y453 |  | 9664 | 4010 | SH |  | DFND | 1 | 0 | 4010 | 0 |
| AGNICO EAGLE MINES LTD | COM | 008474108 |  | 40911 | 344 | SH |  | OTR |  | 0 | 344 | 0 |
| ALIBABA GROUP HLDG LTD | SPONSORED ADS | 01609W102 |  | 281370 | 2481 | SH |  | OTR |  | 0 | 2481 | 0 |
| ALIGN TECHNOLOGY INC | COM | 016255101 |  | 503996 | 2662 | SH |  | DFND | 1 | 0 | 2662 | 0 |
| ALPHABET INC | CAP STK CL C | 02079K107 |  | 206624758 | 1164805 | SH |  | DFND | 1 | 0 | 1164805 | 0 |
| ALPHABET INC | CAP STK CL C | 02079K107 |  | 1427457 | 8047 | SH |  | OTR |  | 0 | 8047 | 0 |
| ALPHABET INC | CAP STK CL A | 02079K305 |  | 25278607 | 143441 | SH |  | DFND | 1 | 0 | 143441 | 0 |
| ALPHABET INC | CAP STK CL A | 02079K305 |  | 10622968 | 60279 | SH |  | OTR |  | 0 | 60279 | 0 |
| ALTRIA GROUP INC | COM | 02209S103 |  | 76277 | 1301 | SH |  | DFND | 1 | 0 | 1301 | 0 |
| ALTRIA GROUP INC | COM | 02209S103 |  | 323461 | 5517 | SH |  | OTR |  | 0 | 5517 | 0 |
| AMAZON COM INC | COM | 023135106 |  | 301861333 | 1375912 | SH |  | DFND | 1 | 0 | 1375912 | 0 |
| AMAZON COM INC | COM | 023135106 |  | 13104164 | 59730 | SH |  | OTR |  | 0 | 59730 | 0 |
| AMER SPORTS INC | COM SHS | G0260P102 |  | 1318692 | 34022 | SH |  | DFND | 1 | 0 | 34022 | 0 |
| AMERICAN INTL GROUP INC | COM NEW | 026874784 |  | 938751 | 10968 | SH |  | DFND | 1 | 0 | 10968 | 0 |
| AMPHENOL CORP NEW | CL A | 032095101 |  | 218485362 | 2212510 | SH |  | DFND | 1 | 0 | 2212510 | 0 |
| AMPHENOL CORP NEW | CL A | 032095101 |  | 7271554 | 73636 | SH |  | OTR |  | 0 | 73636 | 0 |
| ANALOG DEVICES INC | COM | 032654105 |  | 811172 | 3408 | SH |  | DFND | 1 | 0 | 3408 | 0 |
| APPLE INC | COM | 037833100 |  | 1756460 | 8561 | SH |  | DFND | 1 | 0 | 8561 | 0 |
| APPLE INC | COM | 037833100 |  | 1118792 | 5453 | SH |  | OTR |  | 0 | 5453 | 0 |
| ARM HOLDINGS PLC | SPONSORED ADS | 042068205 |  | 540373 | 3341 | SH |  | OTR |  | 0 | 3341 | 0 |
| ASML HOLDING N V | N Y REGISTRY SHS | N07059210 |  | 143448 | 179 | SH |  | OTR |  | 0 | 179 | 0 |
| AUTODESK INC | COM | 052769106 |  | 1011055 | 3266 | SH |  | DFND | 1 | 0 | 3266 | 0 |
| BANK AMERICA CORP | COM | 060505104 |  | 1012837 | 21404 | SH |  | DFND | 1 | 0 | 21404 | 0 |
| BANK AMERICA CORP | COM | 060505104 |  | 442678 | 9355 | SH |  | OTR |  | 0 | 9355 | 0 |
| BARRICK MNG CORP | COM SHS | 06849F108 |  | 179638 | 8646 | SH |  | OTR |  | 0 | 8646 | 0 |
| BATH  BODY WORKS INC | COM | 070830104 |  | 33315 | 1112 | SH |  | OTR |  | 0 | 1112 | 0 |
| BECTON DICKINSON  CO | COM | 075887109 |  | 60976 | 354 | SH |  | OTR |  | 0 | 354 | 0 |
| BERKSHIRE HATHAWAY INC DEL | CL B NEW | 084670702 |  | 2160704 | 4448 | SH |  | DFND | 1 | 0 | 4448 | 0 |
| BERKSHIRE HATHAWAY INC DEL | CL B NEW | 084670702 |  | 3043834 | 6266 | SH |  | OTR |  | 0 | 6266 | 0 |
| BIONTECH SE | SPONSORED ADS | 09075V102 |  | 3194 | 30 | SH |  | OTR |  | 0 | 30 | 0 |
| BOOKING HOLDINGS INC | COM | 09857L108 |  | 1615197 | 279 | SH |  | DFND | 1 | 0 | 279 | 0 |
| BOOT BARN HLDGS INC | COM | 099406100 |  | 560880 | 3690 | SH |  | DFND | 1 | 0 | 3690 | 0 |
| BRISTOL-MYERS SQUIBB CO | COM | 110122108 |  | 231450 | 5000 | SH |  | OTR |  | 0 | 5000 | 0 |
| BROOKFIELD ASSET MANAGMT LTD | CL A LMT VTG SHS | 113004105 |  | 19237 | 348 | SH |  | OTR |  | 0 | 348 | 0 |
| BROOKFIELD CORP | CL A LTD VT SH | 11271J107 |  | 86280 | 1395 | SH |  | OTR |  | 0 | 1395 | 0 |
| CADENCE DESIGN SYSTEM INC | COM | 127387108 |  | 143479878 | 465617 | SH |  | DFND | 1 | 0 | 465617 | 0 |
| CADENCE DESIGN SYSTEM INC | COM | 127387108 |  | 8111432 | 26323 | SH |  | OTR |  | 0 | 26323 | 0 |
| CAMECO CORP | COM | 13321L108 |  | 42385 | 571 | SH |  | OTR |  | 0 | 571 | 0 |
| CANADIAN NATL RY CO | COM | 136375102 |  | 626216 | 6019 | SH |  | DFND | 1 | 0 | 6019 | 0 |
| CARRIER GLOBAL CORPORATION | COM | 14448C104 |  | 1309588 | 17893 | SH |  | DFND | 1 | 0 | 17893 | 0 |
| CATERPILLAR INC | COM | 149123101 |  | 1081164 | 2785 | SH |  | DFND | 1 | 0 | 2785 | 0 |
| CATERPILLAR INC | COM | 149123101 |  | 615701 | 1586 | SH |  | OTR |  | 0 | 1586 | 0 |
| CHENIERE ENERGY INC | COM NEW | 16411R208 |  | 882760 | 3625 | SH |  | DFND | 1 | 0 | 3625 | 0 |
| CHENIERE ENERGY INC | COM NEW | 16411R208 |  | 5113 | 21 | SH |  | OTR |  | 0 | 21 | 0 |
| CLOUDFLARE INC | CL A COM | 18915M107 |  | 58944 | 301 | SH |  | OTR |  | 0 | 301 | 0 |
| COCA COLA CO | COM | 191216100 |  | 280665 | 3967 | SH |  | DFND | 1 | 0 | 3967 | 0 |
| COCA COLA CO | COM | 191216100 |  | 205811 | 2909 | SH |  | OTR |  | 0 | 2909 | 0 |
| COLGATE PALMOLIVE CO | COM | 194162103 |  | 32505930 | 357601 | SH |  | DFND | 1 | 0 | 357601 | 0 |
| COLGATE PALMOLIVE CO | COM | 194162103 |  | 1535119 | 16888 | SH |  | OTR |  | 0 | 16888 | 0 |
| COPART INC | COM | 217204106 |  | 145722442 | 2969685 | SH |  | DFND | 1 | 0 | 2969685 | 0 |
| COPART INC | COM | 217204106 |  | 6471596 | 131885 | SH |  | OTR |  | 0 | 131885 | 0 |
| CORNING INC | COM | 219350105 |  | 537995 | 10230 | SH |  | DFND | 1 | 0 | 10230 | 0 |
| CROWDSTRIKE HLDGS INC | CL A | 22788C105 |  | 381982 | 750 | SH |  | OTR |  | 0 | 750 | 0 |
| DANAHER CORPORATION | COM | 235851102 |  | 470935 | 2384 | SH |  | DFND | 1 | 0 | 2384 | 0 |
| DISNEY WALT CO | COM | 254687106 |  | 778782 | 6280 | SH |  | DFND | 1 | 0 | 6280 | 0 |
| DISNEY WALT CO | COM | 254687106 |  | 229418 | 1850 | SH |  | OTR |  | 0 | 1850 | 0 |
| DOLLY VARDEN SILVER CORP | COM NO PAR | 256827783 |  | 38993 | 11668 | SH |  | OTR |  | 0 | 11668 | 0 |
| DOVER CORP | COM | 260003108 |  | 498385 | 2720 | SH |  | DFND | 1 | 0 | 2720 | 0 |
| DOW INC | COM | 260557103 |  | 123899 | 4679 | SH |  | OTR |  | 0 | 4679 | 0 |
| DRDGOLD LIMITED | SPON ADR REPSTG | 26152H301 |  | 290594 | 21800 | SH |  | OTR |  | 0 | 21800 | 0 |
| EDWARDS LIFESCIENCES CORP | COM | 28176E108 |  | 1158211 | 14809 | SH |  | DFND | 1 | 0 | 14809 | 0 |
| EDWARDS LIFESCIENCES CORP | COM | 28176E108 |  | 177614 | 2271 | SH |  | OTR |  | 0 | 2271 | 0 |
| ELEVANCE HEALTH INC | COM | 036752103 |  | 891496 | 2292 | SH |  | DFND | 1 | 0 | 2292 | 0 |
| ELI LILLY  CO | COM | 532457108 |  | 732758 | 940 | SH |  | DFND | 1 | 0 | 940 | 0 |
| ELI LILLY  CO | COM | 532457108 |  | 290764 | 373 | SH |  | OTR |  | 0 | 373 | 0 |
| EMBRAER S.A. | SPONSORED ADS | 29082A107 |  | 769821 | 13527 | SH |  | DFND | 1 | 0 | 13527 | 0 |
| ENDEAVOUR SILVER CORP | COM | 29258Y103 |  | 811504 | 165020 | SH |  | OTR |  | 0 | 165020 | 0 |
| ENERGY FUELS INC | COM NEW | 292671708 |  | 342483 | 59379 | SH |  | OTR |  | 0 | 59379 | 0 |
| ENPHASE ENERGY INC | COM | 29355A107 |  | 192064 | 4844 | SH |  | OTR |  | 0 | 4844 | 0 |
| EXXON MOBIL CORP | COM | 30231G102 |  | 232632 | 2158 | SH |  | OTR |  | 0 | 2158 | 0 |
| FERGUSON ENTERPRISES INC | COMMON STOCK NEW | 31488V107 |  | 721623 | 3314 | SH |  | DFND | 1 | 0 | 3314 | 0 |
| FIRST CTZNS BANCSHARES INC N | CL A | 31946M103 |  | 1177794 | 602 | SH |  | DFND | 1 | 0 | 602 | 0 |
| FIRST TR EXCHANGE TRADED FD | NASDAQ CYB ETF | 33734X846 |  | 61295 | 811 | SH |  | OTR |  | 0 | 811 | 0 |
| FISERV INC | COM | 337738108 |  | 1434623 | 8321 | SH |  | DFND | 1 | 0 | 8321 | 0 |
| FRANCO NEV CORP | COM | 351858105 |  | 53274 | 325 | SH |  | OTR |  | 0 | 325 | 0 |
| FUELCELL ENERGY INC | COM NEW | 35952H700 |  | 5284 | 942 | SH |  | OTR |  | 0 | 942 | 0 |
| GALLAGHER ARTHUR J  CO | COM | 363576109 |  | 142479329 | 445081 | SH |  | DFND | 1 | 0 | 445081 | 0 |
| GALLAGHER ARTHUR J  CO | COM | 363576109 |  | 4890793 | 15278 | SH |  | OTR |  | 0 | 15278 | 0 |
| GARRETT MOTION INC | COM | 366505105 |  | 157 | 15 | SH |  | DFND | 1 | 0 | 15 | 0 |
| GE AEROSPACE | COM NEW | 369604301 |  | 219598713 | 853175 | SH |  | DFND | 1 | 0 | 853175 | 0 |
| GE AEROSPACE | COM NEW | 369604301 |  | 7240380 | 28130 | SH |  | OTR |  | 0 | 28130 | 0 |
| GE HEALTHCARE TECHNOLOGIES I | COMMON STOCK | 36266G107 |  | 19110 | 258 | SH |  | OTR |  | 0 | 258 | 0 |
| GE VERNOVA INC | COM | 36828A101 |  | 102125 | 193 | SH |  | OTR |  | 0 | 193 | 0 |
| GEVO INC | COM PAR | 374396406 |  | 115764 | 87700 | SH |  | OTR |  | 0 | 87700 | 0 |
| GLOBAL X FDS | GBL X BLOCKCHAIN | 37960A735 |  | 68378 | 1298 | SH |  | OTR |  | 0 | 1298 | 0 |
| GRANITESHARES ETF TR | 2X SHORT NVDA DA | 38747R629 |  | 383800 | 30364 | SH |  | OTR |  | 0 | 30364 | 0 |
| HECLA MNG CO | COM | 422704106 |  | 323052 | 53932 | SH |  | OTR |  | 0 | 53932 | 0 |
| HOME DEPOT INC | COM | 437076102 |  | 104859 | 286 | SH |  | OTR |  | 0 | 286 | 0 |
| ILLUMINA INC | COM | 452327109 |  | 607380 | 6366 | SH |  | DFND | 1 | 0 | 6366 | 0 |
| INTERNATIONAL BUSINESS MACHS | COM | 459200101 |  | 147390 | 500 | SH |  | DFND | 1 | 0 | 500 | 0 |
| INTUIT | COM | 461202103 |  | 1748538 | 2220 | SH |  | DFND | 1 | 0 | 2220 | 0 |
| INVESCO EXCHANGE TRADED FD T | S QUALITY | 46137V241 |  | 115441 | 1620 | SH |  | OTR |  | 0 | 1620 | 0 |
| INVESCO EXCHANGE TRADED FD T | S EQL WGT | 46137V357 |  | 207001 | 1139 | SH |  | OTR |  | 0 | 1139 | 0 |
| INVESCO QQQ TR | UNIT SER 1 | 46090E103 |  | 97640 | 177 | SH |  | OTR |  | 0 | 177 | 0 |
| ISHARES BITCOIN TRUST ETF | SHS BEN INT | 46438F101 |  | 1072582 | 17523 | SH |  | OTR |  | 0 | 17523 | 0 |
| ISHARES ETHEREUM TR | SHS | 46438R105 |  | 23532 | 1234 | SH |  | OTR |  | 0 | 1234 | 0 |
| ISHARES GOLD TR | ISHARES NEW | 464285204 |  | 2222822 | 35645 | SH |  | DFND | 1 | 0 | 35645 | 0 |
| ISHARES GOLD TR | ISHARES NEW | 464285204 |  | 1472444 | 23612 | SH |  | OTR |  | 0 | 23612 | 0 |
| ISHARES GOLD TR | SHARES REPRESENT | 46436F103 |  | 2979491 | 90315 | SH |  | DFND | 1 | 0 | 90315 | 0 |
| ISHARES INC | CORE MSCI EMKT | 46434G103 |  | 684161 | 11397 | SH |  | DFND | 1 | 0 | 11397 | 0 |
| ISHARES INC | CORE MSCI EMKT | 46434G103 |  | 101570 | 1692 | SH |  | OTR |  | 0 | 1692 | 0 |
| ISHARES TR | TIPS BD ETF | 464287176 |  | 305250 | 2774 | SH |  | OTR |  | 0 | 2774 | 0 |
| ISHARES TR | CORE S ETF | 464287200 |  | 7302404 | 11761 | SH |  | DFND | 1 | 0 | 11761 | 0 |
| ISHARES TR | CORE S ETF | 464287200 |  | 20808842 | 33514 | SH |  | OTR |  | 0 | 33514 | 0 |
| ISHARES TR | MSCI EMG MKT ETF | 464287234 |  | 88858 | 1842 | SH |  | OTR |  | 0 | 1842 | 0 |
| ISHARES TR | IBOXX INV CP ETF | 464287242 |  | 31238 | 285 | SH |  | DFND | 1 | 0 | 285 | 0 |
| ISHARES TR | IBOXX INV CP ETF | 464287242 |  | 149069 | 1360 | SH |  | OTR |  | 0 | 1360 | 0 |
| ISHARES TR | GLOBAL ENERG ETF | 464287341 |  | 17169 | 437 | SH |  | OTR |  | 0 | 437 | 0 |
| ISHARES TR | 7-10 YR TRSY BD | 464287440 |  | 545410 | 5695 | SH |  | OTR |  | 0 | 5695 | 0 |
| ISHARES TR | RUS 2000 VAL ETF | 464287630 |  | 77144 | 489 | SH |  | OTR |  | 0 | 489 | 0 |
| ISHARES TR | RUSSELL 2000 ETF | 464287655 |  | 348716 | 1616 | SH |  | OTR |  | 0 | 1616 | 0 |
| ISHARES TR | CORE S SCP ETF | 464287804 |  | 472132 | 4320 | SH |  | OTR |  | 0 | 4320 | 0 |
| ISHARES TR | MSCI ACWI ETF | 464288257 |  | 2498183 | 19426 | SH |  | OTR |  | 0 | 19426 | 0 |
| ISHARES TR | CALIF MUN BD ETF | 464288356 |  | 3596400 | 64521 | SH |  | DFND | 1 | 0 | 64521 | 0 |
| ISHARES TR | NATIONAL MUN ETF | 464288414 |  | 6817111 | 65248 | SH |  | DFND | 1 | 0 | 65248 | 0 |
| ISHARES TR | NATIONAL MUN ETF | 464288414 |  | 319081 | 3054 | SH |  | OTR |  | 0 | 3054 | 0 |
| ISHARES TR | ISHS 1-5YR INVS | 464288646 |  | 598456 | 11343 | SH |  | OTR |  | 0 | 11343 | 0 |
| ISHARES TR | GLB CNSM STP ETF | 464288737 |  | 220199 | 3368 | SH |  | OTR |  | 0 | 3368 | 0 |
| ISHARES TR | US AER DEF ETF | 464288760 |  | 135820 | 720 | SH |  | OTR |  | 0 | 720 | 0 |
| ISHARES TR | 0-5YR HI YL CP | 46434V407 |  | 407284 | 9441 | SH |  | OTR |  | 0 | 9441 | 0 |
| ISHARES TR | MSCI CHINA A | 46434V514 |  | 47256 | 1646 | SH |  | OTR |  | 0 | 1646 | 0 |
| ISHARES TR | GLOBAL REIT ETF | 46434V647 |  | 119671 | 4845 | SH |  | OTR |  | 0 | 4845 | 0 |
| ISHARES TR | CORE MSCI EURO | 46434V738 |  | 79903 | 1207 | SH |  | OTR |  | 0 | 1207 | 0 |
| ISHARES TR | MSCI INTL VLU FT | 46435G409 |  | 2663465 | 80981 | SH |  | DFND | 1 | 0 | 80981 | 0 |
| ISHARES TR | MSCI INTL VLU FT | 46435G409 |  | 169811 | 5163 | SH |  | OTR |  | 0 | 5163 | 0 |
| ISHARES TR | CYBERSECURITY | 46435U135 |  | 798150 | 15000 | SH |  | OTR |  | 0 | 15000 | 0 |
| ISHARES TR | FUTURE AI  TECH | 46435U556 |  | 410000 | 10000 | SH |  | OTR |  | 0 | 10000 | 0 |
| JOHNSON  JOHNSON | COM | 478160104 |  | 429074 | 2809 | SH |  | OTR |  | 0 | 2809 | 0 |
| JPMORGAN CHASE  CO. | COM | 46625H100 |  | 597794 | 2062 | SH |  | DFND | 1 | 0 | 2062 | 0 |
| KELLANOVA | COM | 487836108 |  | 149914 | 1885 | SH |  | OTR |  | 0 | 1885 | 0 |
| KENVUE INC | COM | 49177J102 |  | 89768 | 4289 | SH |  | OTR |  | 0 | 4289 | 0 |
| KKR  CO INC | COM | 48251W104 |  | 2530895 | 19025 | SH |  | DFND | 1 | 0 | 19025 | 0 |
| KLA CORP | COM NEW | 482480100 |  | 786459 | 878 | SH |  | DFND | 1 | 0 | 878 | 0 |
| LAUDER ESTEE COS INC | CL A | 518439104 |  | 1777 | 22 | SH |  | OTR |  | 0 | 22 | 0 |
| LOCKHEED MARTIN CORP | COM | 539830109 |  | 490928 | 1060 | SH |  | OTR |  | 0 | 1060 | 0 |
| LOWES COS INC | COM | 548661107 |  | 521172 | 2349 | SH |  | DFND | 1 | 0 | 2349 | 0 |
| MARVELL TECHNOLOGY INC | COM | 573874104 |  | 1017190 | 13142 | SH |  | DFND | 1 | 0 | 13142 | 0 |
| MASTERCARD INCORPORATED | CL A | 57636Q104 |  | 185922906 | 330859 | SH |  | DFND | 1 | 0 | 330859 | 0 |
| MASTERCARD INCORPORATED | CL A | 57636Q104 |  | 5930714 | 10554 | SH |  | OTR |  | 0 | 10554 | 0 |
| MCDONALDS CORP | COM | 580135101 |  | 113159778 | 387308 | SH |  | DFND | 1 | 0 | 387308 | 0 |
| MCDONALDS CORP | COM | 580135101 |  | 4875440 | 16687 | SH |  | OTR |  | 0 | 16687 | 0 |
| META PLATFORMS INC | CL A | 30303M102 |  | 4946679 | 6702 | SH |  | DFND | 1 | 0 | 6702 | 0 |
| META PLATFORMS INC | CL A | 30303M102 |  | 2397316 | 3248 | SH |  | OTR |  | 0 | 3248 | 0 |
| METALLA RTY  STREAMING LTD | COM NEW | 59124U605 |  | 78681 | 20490 | SH |  | OTR |  | 0 | 20490 | 0 |
| METTLER TOLEDO INTERNATIONAL | COM | 592688105 |  | 176208 | 150 | SH |  | OTR |  | 0 | 150 | 0 |
| MICROSOFT CORP | COM | 594918104 |  | 281602702 | 566138 | SH |  | DFND | 1 | 0 | 566138 | 0 |
| MICROSOFT CORP | COM | 594918104 |  | 23574249 | 47394 | SH |  | OTR |  | 0 | 47394 | 0 |
| MICROSTRATEGY INC | CL A NEW | 594972408 |  | 64676 | 160 | SH |  | OTR |  | 0 | 160 | 0 |
| MONDELEZ INTL INC | CL A | 609207105 |  | 692001 | 10261 | SH |  | DFND | 1 | 0 | 10261 | 0 |
| MP MATERIALS CORP | COM CL A | 553368101 |  | 491397 | 14770 | SH |  | OTR |  | 0 | 14770 | 0 |
| NETAPP INC | COM | 64110D104 |  | 157267 | 1476 | SH |  | OTR |  | 0 | 1476 | 0 |
| NETFLIX INC | COM | 64110L106 |  | 270334190 | 201873 | SH |  | DFND | 1 | 0 | 201873 | 0 |
| NETFLIX INC | COM | 64110L106 |  | 9292223 | 6939 | SH |  | OTR |  | 0 | 6939 | 0 |
| NEWMONT CORP | COM | 651639106 |  | 207172 | 3556 | SH |  | OTR |  | 0 | 3556 | 0 |
| NIKE INC | CL B | 654106103 |  | 39143 | 551 | SH |  | OTR |  | 0 | 551 | 0 |
| NOMAD FOODS LTD | USD ORD SHS | G6564A105 |  | 534403 | 31454 | SH |  | DFND | 1 | 0 | 31454 | 0 |
| NUCOR CORP | COM | 670346105 |  | 569976 | 4400 | SH |  | DFND | 1 | 0 | 4400 | 0 |
| NVIDIA CORPORATION | COM | 67066G104 |  | 3173229 | 20085 | SH |  | DFND | 1 | 0 | 20085 | 0 |
| NVIDIA CORPORATION | COM | 67066G104 |  | 341890 | 2164 | SH |  | OTR |  | 0 | 2164 | 0 |
| OLD DOMINION FREIGHT LINE IN | COM | 679580100 |  | 504915 | 3111 | SH |  | DFND | 1 | 0 | 3111 | 0 |
| PALANTIR TECHNOLOGIES INC | CL A | 69608A108 |  | 259008 | 1900 | SH |  | OTR |  | 0 | 1900 | 0 |
| PELOTON INTERACTIVE INC | CL A COM | 70614W100 |  | 69 | 10 | SH |  | OTR |  | 0 | 10 | 0 |
| PEPSICO INC | COM | 713448108 |  | 187496 | 1420 | SH |  | OTR |  | 0 | 1420 | 0 |
| PFIZER INC | COM | 717081103 |  | 90536 | 3735 | SH |  | OTR |  | 0 | 3735 | 0 |
| PHILIP MORRIS INTL INC | COM | 718172109 |  | 531273 | 2917 | SH |  | DFND | 1 | 0 | 2917 | 0 |
| PHILIP MORRIS INTL INC | COM | 718172109 |  | 200343 | 1100 | SH |  | OTR |  | 0 | 1100 | 0 |
| PROCTER AND GAMBLE CO | COM | 742718109 |  | 261284 | 1640 | SH |  | DFND | 1 | 0 | 1640 | 0 |
| PROCTER AND GAMBLE CO | COM | 742718109 |  | 359425 | 2256 | SH |  | OTR |  | 0 | 2256 | 0 |
| PROGRESSIVE CORP | COM | 743315103 |  | 942816 | 3533 | SH |  | DFND | 1 | 0 | 3533 | 0 |
| PRUDENTIAL FINL INC | COM | 744320102 |  | 7950 | 74 | SH |  | DFND | 1 | 0 | 74 | 0 |
| PSYENCE BIOMEDICAL LTD | COM | 74449F308 |  | 2990 | 561 | SH |  | OTR |  | 0 | 561 | 0 |
| QUANTA SVCS INC | COM | 74762E102 |  | 113424 | 300 | SH |  | OTR |  | 0 | 300 | 0 |
| RAMBUS INC DEL | COM | 750917106 |  | 104608 | 1634 | SH |  | OTR |  | 0 | 1634 | 0 |
| RELIANCE GLOBAL GROUP INC | COM NEW | 75946W405 |  | 273 | 146 | SH |  | OTR |  | 0 | 146 | 0 |
| RESTAURANT BRANDS INTL INC | COM | 76131D103 |  | 86177 | 1300 | SH |  | OTR |  | 0 | 1300 | 0 |
| RTX CORPORATION | COM | 75513E101 |  | 175224 | 1200 | SH |  | OTR |  | 0 | 1200 | 0 |
| S GLOBAL INC | COM | 78409V104 |  | 160218648 | 303853 | SH |  | DFND | 1 | 0 | 303853 | 0 |
| S GLOBAL INC | COM | 78409V104 |  | 5855028 | 11104 | SH |  | OTR |  | 0 | 11104 | 0 |
| SAP SE | SPON ADR | 803054204 |  | 842357 | 2770 | SH |  | DFND | 1 | 0 | 2770 | 0 |
| SHOPIFY INC | CL A SUB VTG SHS | 82509L107 |  | 89511 | 776 | SH |  | OTR |  | 0 | 776 | 0 |
| SIBANYE STILLWATER LTD | SPONSORED ADR | 82575P107 |  | 860876 | 119235 | SH |  | OTR |  | 0 | 119235 | 0 |
| SILVERCORP METALS INC | COM | 82835P103 |  | 910034 | 215204 | SH |  | OTR |  | 0 | 215204 | 0 |
| SPDR DOW JONES INDL AVERAGE | UT SER 1 | 78467X109 |  | 45386 | 103 | SH |  | OTR |  | 0 | 103 | 0 |
| SPDR GOLD TR | GOLD SHS | 78463V107 |  | 12070963 | 39599 | SH |  | DFND | 1 | 0 | 39599 | 0 |
| SPDR GOLD TR | GOLD SHS | 78463V107 |  | 1553718 | 5097 | SH |  | OTR |  | 0 | 5097 | 0 |
| SPDR INDEX SHS FDS | MSCI ACWI EXUS | 78463X848 |  | 776981 | 23790 | SH |  | DFND | 1 | 0 | 23790 | 0 |
| SPDR S 500 ETF TR | TR UNIT | 78462F103 |  | 2425679 | 3926 | SH |  | OTR |  | 0 | 3926 | 0 |
| SPDR SERIES TRUST | PORTFOLIO INTRMD | 78464A375 |  | 1106863 | 32962 | SH |  | DFND | 1 | 0 | 32962 | 0 |
| SPDR SERIES TRUST | PORTFOLIO INTRMD | 78464A375 |  | 339527 | 10111 | SH |  | OTR |  | 0 | 10111 | 0 |
| SPDR SERIES TRUST | PORTFLI TIPS ETF | 78464A656 |  | 41696 | 1600 | SH |  | DFND | 1 | 0 | 1600 | 0 |
| SPDR SERIES TRUST | PORTFOLIO S | 78464A847 |  | 395614 | 7275 | SH |  | OTR |  | 0 | 7275 | 0 |
| SPDR SERIES TRUST | BLOOMBERG HIGH Y | 78468R622 |  | 69061 | 710 | SH |  | OTR |  | 0 | 710 | 0 |
| SPDR SERIES TRUST | PRTFLO S HI | 78468R788 |  | 241908 | 5700 | SH |  | OTR |  | 0 | 5700 | 0 |
| SPROTT ETF TRUST | GOLD MINERS ETF | 85210B102 |  | 103690 | 2292 | SH |  | OTR |  | 0 | 2292 | 0 |
| SPROTT FDS TR | URANIUM MINERS E | 85208P303 |  | 18405 | 384 | SH |  | OTR |  | 0 | 384 | 0 |
| SPROTT INC | COM NEW | 852066208 |  | 110474 | 1599 | SH |  | OTR |  | 0 | 1599 | 0 |
| SPROTT PHYSICAL GOLD  SILVE | TR UNIT | 85208R101 |  | 468717 | 15572 | SH |  | OTR |  | 0 | 15572 | 0 |
| SPROTT PHYSICAL GOLD TR | UNIT | 85207H104 |  | 316418 | 12482 | SH |  | OTR |  | 0 | 12482 | 0 |
| STRYKER CORPORATION | COM | 863667101 |  | 168652717 | 426289 | SH |  | DFND | 1 | 0 | 426289 | 0 |
| STRYKER CORPORATION | COM | 863667101 |  | 5862049 | 14817 | SH |  | OTR |  | 0 | 14817 | 0 |
| SUNCOR ENERGY INC NEW | COM | 867224107 |  | 1116047 | 29801 | SH |  | DFND | 1 | 0 | 29801 | 0 |
| TAIWAN SEMICONDUCTOR MFG LTD | SPONSORED ADS | 874039100 |  | 2592631 | 11447 | SH |  | DFND | 1 | 0 | 11447 | 0 |
| TANDEM DIABETES CARE INC | COM NEW | 875372203 |  | 47550 | 2551 | SH |  | OTR |  | 0 | 2551 | 0 |
| TESLA INC | COM | 88160R101 |  | 1270640 | 4000 | SH |  | DFND | 1 | 0 | 4000 | 0 |
| TESLA INC | COM | 88160R101 |  | 552728 | 1740 | SH |  | OTR |  | 0 | 1740 | 0 |
| THERMO FISHER SCIENTIFIC INC | COM | 883556102 |  | 95688 | 236 | SH |  | OTR |  | 0 | 236 | 0 |
| TITAN INTL INC ILL | COM | 88830M102 |  | 2618 | 255 | SH |  | OTR |  | 0 | 255 | 0 |
| TJX COS INC NEW | COM | 872540109 |  | 1957933 | 15855 | SH |  | DFND | 1 | 0 | 15855 | 0 |
| T-MOBILE US INC | COM | 872590104 |  | 770771 | 3235 | SH |  | DFND | 1 | 0 | 3235 | 0 |
| TRAVEL PLUS LEISURE CO | COM | 894164102 |  | 1032 | 20 | SH |  | DFND | 1 | 0 | 20 | 0 |
| UBER TECHNOLOGIES INC | COM | 90353T100 |  | 2776608 | 29760 | SH |  | DFND | 1 | 0 | 29760 | 0 |
| UNILEVER PLC | SPON ADR NEW | 904767704 |  | 464892 | 7600 | SH |  | DFND | 1 | 0 | 7600 | 0 |
| UNITED RENTALS INC | COM | 911363109 |  | 1253657 | 1664 | SH |  | DFND | 1 | 0 | 1664 | 0 |
| UNITEDHEALTH GROUP INC | COM | 91324P102 |  | 1720202 | 5514 | SH |  | DFND | 1 | 0 | 5514 | 0 |
| UNITEDHEALTH GROUP INC | COM | 91324P102 |  | 1121844 | 3596 | SH |  | OTR |  | 0 | 3596 | 0 |
| URANIUM ENERGY CORP | COM | 916896103 |  | 399493 | 58749 | SH |  | OTR |  | 0 | 58749 | 0 |
| VAIL RESORTS INC | COM | 91879Q109 |  | 85792 | 546 | SH |  | OTR |  | 0 | 546 | 0 |
| VALE S A | SPONSORED ADS | 91912E105 |  | 231059 | 23796 | SH |  | OTR |  | 0 | 23796 | 0 |
| VALERO ENERGY CORP | COM | 91913Y100 |  | 12232 | 91 | SH |  | DFND | 1 | 0 | 91 | 0 |
| VANGUARD INDEX FDS | S 500 ETF SHS | 922908363 |  | 11007285 | 19378 | SH |  | DFND | 1 | 0 | 19378 | 0 |
| VANGUARD INDEX FDS | S 500 ETF SHS | 922908363 |  | 955426 | 1682 | SH |  | OTR |  | 0 | 1682 | 0 |
| VANGUARD INDEX FDS | TOTAL STK MKT | 922908769 |  | 12143827 | 39956 | SH |  | DFND | 1 | 0 | 39956 | 0 |
| VANGUARD INDEX FDS | TOTAL STK MKT | 922908769 |  | 582937 | 1918 | SH |  | OTR |  | 0 | 1918 | 0 |
| VANGUARD INTL EQUITY INDEX F | TT WRLD ST ETF | 922042742 |  | 5571342 | 43350 | SH |  | DFND | 1 | 0 | 43350 | 0 |
| VANGUARD INTL EQUITY INDEX F | TT WRLD ST ETF | 922042742 |  | 2682212 | 20870 | SH |  | OTR |  | 0 | 20870 | 0 |
| VANGUARD INTL EQUITY INDEX F | ALLWRLD EX US | 922042775 |  | 19853427 | 295350 | SH |  | DFND | 1 | 0 | 295350 | 0 |
| VANGUARD INTL EQUITY INDEX F | ALLWRLD EX US | 922042775 |  | 283870 | 4223 | SH |  | OTR |  | 0 | 4223 | 0 |
| VANGUARD INTL EQUITY INDEX F | FTSE EMR MKT ETF | 922042858 |  | 1131941 | 22886 | SH |  | DFND | 1 | 0 | 22886 | 0 |
| VANGUARD SCOTTSDALE FDS | SHRT TRM CORP BD | 92206C409 |  | 908049 | 11422 | SH |  | DFND | 1 | 0 | 11422 | 0 |
| VANGUARD SCOTTSDALE FDS | TOTAL WLD BD ETF | 92206C565 |  | 462361 | 6669 | SH |  | OTR |  | 0 | 6669 | 0 |
| VANGUARD SCOTTSDALE FDS | INTER TERM TREAS | 92206C706 |  | 729263 | 12193 | SH |  | DFND | 1 | 0 | 12193 | 0 |
| VANGUARD SCOTTSDALE FDS | INTER TERM TREAS | 92206C706 |  | 275664 | 4609 | SH |  | OTR |  | 0 | 4609 | 0 |
| VANGUARD SCOTTSDALE FDS | VNG RUS1000VAL | 92206C714 |  | 4011686 | 47080 | SH |  | DFND | 1 | 0 | 47080 | 0 |
| VANGUARD SCOTTSDALE FDS | VNG RUS1000VAL | 92206C714 |  | 312550 | 3668 | SH |  | OTR |  | 0 | 3668 | 0 |
| VANGUARD SCOTTSDALE FDS | INT-TERM CORP | 92206C870 |  | 1264198 | 15246 | SH |  | DFND | 1 | 0 | 15246 | 0 |
| VANGUARD STAR FDS | VG TL INTL STK F | 921909768 |  | 3499753 | 50655 | SH |  | DFND | 1 | 0 | 50655 | 0 |
| VANGUARD WORLD FD | ESG INTL STK ETF | 921910725 |  | 203901 | 3113 | SH |  | DFND | 1 | 0 | 3113 | 0 |
| VANGUARD WORLD FD | ESG US STK ETF | 921910733 |  | 364881 | 3328 | SH |  | DFND | 1 | 0 | 3328 | 0 |
| VANGUARD WORLD FD | HEALTH CAR ETF | 92204A504 |  | 2169249 | 8735 | SH |  | DFND | 1 | 0 | 8735 | 0 |
| VANGUARD WORLD FD | HEALTH CAR ETF | 92204A504 |  | 197430 | 795 | SH |  | OTR |  | 0 | 795 | 0 |
| VERISK ANALYTICS INC | COM | 92345Y106 |  | 191247605 | 613957 | SH |  | DFND | 1 | 0 | 613957 | 0 |
| VERISK ANALYTICS INC | COM | 92345Y106 |  | 6262707 | 20105 | SH |  | OTR |  | 0 | 20105 | 0 |
| VERIZON COMMUNICATIONS INC | COM | 92343V104 |  | 87967 | 2033 | SH |  | OTR |  | 0 | 2033 | 0 |
| VIATRIS INC | COM | 92556V106 |  | 4134 | 463 | SH |  | OTR |  | 0 | 463 | 0 |
| VICTORIAS SECRET AND CO | COMMON STOCK | 926400102 |  | 6852 | 370 | SH |  | OTR |  | 0 | 370 | 0 |
| VISA INC | COM CL A | 92826C839 |  | 171053503 | 481773 | SH |  | DFND | 1 | 0 | 481773 | 0 |
| VISA INC | COM CL A | 92826C839 |  | 8722868 | 24568 | SH |  | OTR |  | 0 | 24568 | 0 |
| VUZIX CORP | COM NEW | 92921W300 |  | 6570 | 2250 | SH |  | OTR |  | 0 | 2250 | 0 |
| WABTEC | COM | 929740108 |  | 6908 | 33 | SH |  | OTR |  | 0 | 33 | 0 |
| WALMART INC | COM | 931142103 |  | 875619 | 8955 | SH |  | DFND | 1 | 0 | 8955 | 0 |
| WALMART INC | COM | 931142103 |  | 103060 | 1054 | SH |  | OTR |  | 0 | 1054 | 0 |
| WHEATON PRECIOUS METALS CORP | COM | 962879102 |  | 40410 | 450 | SH |  | OTR |  | 0 | 450 | 0 |
| WK KELLOGG CO | COM SHS | 92942W107 |  | 7507 | 471 | SH |  | OTR |  | 0 | 471 | 0 |
| WORKDAY INC | CL A | 98138H101 |  | 491520 | 2048 | SH |  | DFND | 1 | 0 | 2048 | 0 |
| WYNDHAM HOTELS  RESORTS INC | COM | 98311A105 |  | 1624 | 20 | SH |  | DFND | 1 | 0 | 20 | 0 |
| ZOETIS INC | CL A | 98978V103 |  | 94361290 | 605074 | SH |  | DFND | 1 | 0 | 605074 | 0 |
| ZOETIS INC | CL A | 98978V103 |  | 3680887 | 23603 | SH |  | OTR |  | 0 | 23603 | 0 |

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