# EDGAR Filing Document

**Accession Number:** 0001326234
**File Stem:** 0001214659-25-011666
**Filing Date:** 2025-8
**Character Count:** 23621
**Document Hash:** 864f8af5843ee306b715fcf7252db055
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001214659-25-011666.hdr.sgml**: 20250807

**ACCESSION NUMBER**: 0001214659-25-011666

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

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250807

**DATE AS OF CHANGE**: 20250807

**EFFECTIVENESS DATE**: 20250807

**FILER**: 

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

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

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-11378
- **FILM NUMBER:** 251192996

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

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

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

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 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:** Allen Investment Management LLC<br>**Address:** 711 FIFTH AVENUE<br>NEW YORK, NY 10022

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

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

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

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

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

/s/ Isaac Keschner  New York, NY  08-07-2025<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:** 199

**Form 13F Information Table Value Total:** $9172103849

      (round to nearest dollar)

**List of Other Included Managers:**

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

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

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

### FORM 13F INFORMATION TABLE

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | VOTING AUTHORITY | VOTING AUTHORITY | VOTING AUTHORITY |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | SOLE | SHARED | NONE |
| 3M CO | COM | 808513105 |  | 700083913 | 7672993 | SH |  | DFND | 1 | 7672993 | 0 | 0 |
| ABBOTT LABS | COM | 594918104 |  | 685343540 | 1377824 | SH |  | DFND | 1 | 1377824 | 0 | 0 |
| ABBVIE INC | COM | 023135106 |  | 664105596 | 3027055 | SH |  | DFND | 1 | 3027055 | 0 | 0 |
| ACUITY INC | CL A | 30303M102 |  | 537084474 | 727668 | SH |  | DFND | 1 | 727668 | 0 | 0 |
| ADVANCED MICRO DEVICES INC | COM CL A | 92826C839 |  | 476740902 | 1342743 | SH |  | DFND | 1 | 1342743 | 0 | 0 |
| AFFIRM HLDGS INC | COM | 78409V104 |  | 450752405 | 854847 | SH |  | DFND | 1 | 854847 | 0 | 0 |
| AIRBNB INC | COM | 615369105 |  | 414923650 | 827217 | SH |  | DFND | 1 | 827217 | 0 | 0 |
| ALIBABA GROUP HLDG LTD | COM | 03769M106 |  | 405547596 | 2858586 | SH |  | DFND | 1 | 2858586 | 0 | 0 |
| ALICO INC | COM | 90353T100 |  | 397992516 | 4265729 | SH |  | DFND | 1 | 4265729 | 0 | 0 |
| ALPHABET INC | COM | 91324P102 |  | 393859629 | 1262492 | SH |  | DFND | 1 | 1262492 | 0 | 0 |
| ALPHABET INC | COM | 36828A101 |  | 239167334 | 451984 | SH |  | DFND | 1 | 451984 | 0 | 0 |
| ALPS ETF TR | COM | 855244109 |  | 205618820 | 2244012 | SH |  | DFND | 1 | 2244012 | 0 | 0 |
| AMAZON COM INC | CAP STK CL C | 02079K107 |  | 196493306 | 1107691 | SH |  | DFND | 1 | 1107691 | 0 | 0 |
| AMERICAN EXPRESS CO | TOTAL STK MKT | 922908769 |  | 184096802 | 605721 | SH |  | DFND | 1 | 605721 | 0 | 0 |
| ANGI INC | ALERIAN MLP | 00162Q452 |  | 156855921 | 3210314 | SH |  | DFND | 1 | 3210314 | 0 | 0 |
| APOLLO GLOBAL MGMT INC | COM | 81762P102 |  | 153531411 | 149338 | SH |  | DFND | 1 | 149338 | 0 | 0 |
| APPLE INC | S 500 ETF SHS | 922908363 |  | 142759572 | 251324 | SH |  | DFND | 1 | 251324 | 0 | 0 |
| APPLIED MATLS INC | UNIT SER 1 | 46090E103 |  | 131423265 | 238241 | SH |  | DFND | 1 | 238241 | 0 | 0 |
| APPLOVIN CORP | GOLD SHS | 78463V107 |  | 112228045 | 368166 | SH |  | DFND | 1 | 368166 | 0 | 0 |
| ARES CAPITAL CORP | COM | 67066G104 |  | 104216208 | 659638 | SH |  | DFND | 1 | 659638 | 0 | 0 |
| ARISTA NETWORKS INC | COM | 58733R102 |  | 96074425 | 36759 | SH |  | DFND | 1 | 36759 | 0 | 0 |
| ASML HOLDING N V | TR UNIT | 78462F103 |  | 92576790 | 149837 | SH |  | DFND | 1 | 149837 | 0 | 0 |
| ASTERA LABS INC | CL A COM | 18915M107 |  | 91673310 | 468127 | SH |  | DFND | 1 | 468127 | 0 | 0 |
| AURORA INNOVATION INC | CL A | 22788C105 |  | 91069721 | 178810 | SH |  | DFND | 1 | 178810 | 0 | 0 |
| AUTOMATIC DATA PROCESSING IN | COM | 11135F101 |  | 81600670 | 296030 | SH |  | DFND | 1 | 296030 | 0 | 0 |
| BANK AMERICA CORP | COM CL A | 19260Q107 |  | 81451423 | 232393 | SH |  | DFND | 1 | 232393 | 0 | 0 |
| BERKSHIRE HATHAWAY INC DEL | ENERGY | 81369Y506 |  | 71676931 | 845147 | SH |  | DFND | 1 | 845147 | 0 | 0 |
| BERKSHIRE HATHAWAY INC DEL | CORE S TTL STK | 464287150 |  | 70977834 | 525606 | SH |  | DFND | 1 | 525606 | 0 | 0 |
| BLACKSTONE INC | CL A SUB VTG SHS | 82509L107 |  | 68996569 | 598461 | SH |  | DFND | 1 | 598461 | 0 | 0 |
| BLACKSTONE SECD LENDING FD | COM | 04010L103 |  | 66574728 | 3031636 | SH |  | DFND | 1 | 3031636 | 0 | 0 |
| BLUE OWL CAPITAL CORPORATION | N Y REGISTRY SHS | N07059210 |  | 62340128 | 77790 | SH |  | DFND | 1 | 77790 | 0 | 0 |
| BRAZE INC | COM | 38173M102 |  | 62094587 | 4238538 | SH |  | DFND | 1 | 4238538 | 0 | 0 |
| BROADCOM INC | COM | 037833100 |  | 61532008 | 299907 | SH |  | DFND | 1 | 299907 | 0 | 0 |
| BROOKFIELD ASSET MANAGMT LTD | COM | 09260D107 |  | 59440848 | 397385 | SH |  | DFND | 1 | 397385 | 0 | 0 |
| BROOKFIELD CORP | CL B NEW | 084670702 |  | 53650868 | 110445 | SH |  | DFND | 1 | 110445 | 0 | 0 |
| CANADIAN NATL RY CO | VAN FTSE DEV MKT | 921943858 |  | 52650787 | 923536 | SH |  | DFND | 1 | 923536 | 0 | 0 |
| CANADIAN PACIFIC KANSAS CITY | CL A | 833445109 |  | 52574090 | 234947 | SH |  | DFND | 1 | 234947 | 0 | 0 |
| CARGURUS INC | CL A | 98138H101 |  | 49203600 | 205015 | SH |  | DFND | 1 | 205015 | 0 | 0 |
| CINTAS CORP | ORD SHS CL A | G6683N103 |  | 46043428 | 3355935 | SH |  | DFND | 1 | 3355935 | 0 | 0 |
| CLOUDFLARE INC | COM | 46625H100 |  | 45316992 | 156314 | SH |  | DFND | 1 | 156314 | 0 | 0 |
| COCA COLA CO | CL A | 22266T109 |  | 42454608 | 1417043 | SH |  | DFND | 1 | 1417043 | 0 | 0 |
| COCA-COLA EUROPACIFIC PARTNE | SHRT TRM CORP BD | 92206C409 |  | 38091551 | 479139 | SH |  | DFND | 1 | 479139 | 0 | 0 |
| COINBASE GLOBAL INC | COM | 697435105 |  | 37693255 | 184202 | SH |  | DFND | 1 | 184202 | 0 | 0 |
| CONOCOPHILLIPS | COM | 83012A109 |  | 37075170 | 1557126 | SH |  | DFND | 1 | 1557126 | 0 | 0 |
| COPART INC | INT-TERM CORP | 92206C870 |  | 34898540 | 420870 | SH |  | DFND | 1 | 420870 | 0 | 0 |
| COSTCO WHSL CORP NEW | COM | 64110L106 |  | 33893380 | 25310 | SH |  | DFND | 1 | 25310 | 0 | 0 |
| COUPANG INC | VG TL INTL STK F | 921909768 |  | 33625343 | 486689 | SH |  | DFND | 1 | 486689 | 0 | 0 |
| CREDIT ACCEP CORP MICH | CL A COM | 26603R106 |  | 32154178 | 78421 | SH |  | DFND | 1 | 78421 | 0 | 0 |
| CROWDSTRIKE HLDGS INC | COM SHS | 040413205 |  | 31514959 | 308034 | SH |  | DFND | 1 | 308034 | 0 | 0 |
| D R HORTON INC | TAX EXEMPT BD | 922907746 |  | 30890518 | 630033 | SH |  | DFND | 1 | 630033 | 0 | 0 |
| DANAHER CORPORATION | CORE MSCI TOTAL | 46432F834 |  | 30673516 | 396760 | SH |  | DFND | 1 | 396760 | 0 | 0 |
| DATADOG INC | COM | 443573100 |  | 30478276 | 54755 | SH |  | DFND | 1 | 54755 | 0 | 0 |
| DISNEY WALT CO | CL A | 94419L101 |  | 30044750 | 587500 | SH |  | DFND | 1 | 587500 | 0 | 0 |
| DONALDSON INC | SPONSORED ADS | 874039100 |  | 29726586 | 131249 | SH |  | DFND | 1 | 131249 | 0 | 0 |
| DOVER CORP | COM NEW | 46120E602 |  | 29063197 | 53483 | SH |  | DFND | 1 | 53483 | 0 | 0 |
| DUOLINGO INC | CORE MSCI EAFE | 46432F842 |  | 28453029 | 340959 | SH |  | DFND | 1 | 340959 | 0 | 0 |
| ELEVANCE HEALTH INC | RUS 1000 ETF | 464287622 |  | 28354331 | 83454 | SH |  | DFND | 1 | 83454 | 0 | 0 |
| ELI LILLY  CO | CL A | 57636Q104 |  | 21845979 | 38876 | SH |  | DFND | 1 | 38876 | 0 | 0 |
| ENSTAR GROUP LIMITED | COM | 478160104 |  | 20093041 | 131542 | SH |  | DFND | 1 | 131542 | 0 | 0 |
| ENTERPRISE PRODS PARTNERS L | MSCI ACWI ETF | 464288257 |  | 19349413 | 150462 | SH |  | DFND | 1 | 150462 | 0 | 0 |
| EPAM SYS INC | S EQL WGT | 46137V357 |  | 17518156 | 96386 | SH |  | DFND | 1 | 96386 | 0 | 0 |
| EXXON MOBIL CORP | COMMON STOCK | 09261X102 |  | 17307146 | 562834 | SH |  | DFND | 1 | 562834 | 0 | 0 |
| F ANNUITIES  LIFE INC | COM | 191216100 |  | 16838530 | 238000 | SH |  | DFND | 1 | 238000 | 0 | 0 |
| FAIR ISAAC CORP | SHORT TERM TREAS | 92206C102 |  | 16564968 | 281813 | SH |  | DFND | 1 | 281813 | 0 | 0 |
| GALLAGHER ARTHUR J  CO | COM | 931142103 |  | 15983510 | 163464 | SH |  | DFND | 1 | 163464 | 0 | 0 |
| GE AEROSPACE | CL A | 69608A108 |  | 15329354 | 112443 | SH |  | DFND | 1 | 112443 | 0 | 0 |
| GE VERNOVA INC | CAP STK CL A | 02079K305 |  | 13686198 | 77661 | SH |  | DFND | 1 | 77661 | 0 | 0 |
| GENERAL DYNAMICS CORP | COM | 48251W104 |  | 12420479 | 93366 | SH |  | DFND | 1 | 93366 | 0 | 0 |
| GOLUB CAP BDC INC | RUSSELL 3000 ETF | 464287689 |  | 12399075 | 35325 | SH |  | DFND | 1 | 35325 | 0 | 0 |
| HERSHEY CO | FINANCIALS ETF | 92204A405 |  | 12203105 | 95861 | SH |  | DFND | 1 | 95861 | 0 | 0 |
| HOME DEPOT INC | COM | 74762E102 |  | 12098560 | 32000 | SH |  | DFND | 1 | 32000 | 0 | 0 |
| HONEYWELL INTL INC | RUS 1000 GRW ETF | 464287614 |  | 10679885 | 25154 | SH |  | DFND | 1 | 25154 | 0 | 0 |
| HUBSPOT INC | COM | 742718109 |  | 10450436 | 65594 | SH |  | DFND | 1 | 65594 | 0 | 0 |
| HUMANA INC | DIV APP ETF | 921908844 |  | 10087161 | 49285 | SH |  | DFND | 1 | 49285 | 0 | 0 |
| IAC INC | COM | 369550108 |  | 9903024 | 33954 | SH |  | DFND | 1 | 33954 | 0 | 0 |
| INTERNATIONAL BUSINESS MACHS | COM | 548661107 |  | 9717019 | 43796 | SH |  | DFND | 1 | 43796 | 0 | 0 |
| INTUITIVE SURGICAL INC | SELECT DIVID ETF | 464287168 |  | 9691544 | 72973 | SH |  | DFND | 1 | 72973 | 0 | 0 |
| INVESCO EXCH TRADED FD TR II | COM CL A | 141788109 |  | 8629470 | 257827 | SH |  | DFND | 1 | 257827 | 0 | 0 |
| INVESCO EXCHANGE TRADED FD T | COM CL A | 00827B106 |  | 8067463 | 116683 | SH |  | DFND | 1 | 116683 | 0 | 0 |
| INVESCO EXCHANGE TRADED FD T | SHS BEN INT | 46438F101 |  | 7615136 | 124410 | SH |  | DFND | 1 | 124410 | 0 | 0 |
| INVESCO QQQ TR | CL A | 084670108 |  | 7288000 | 10 | SH |  | DFND | 1 | 10 | 0 | 0 |
| IRON MTN INC DEL | COM | 69121K104 |  | 7226069 | 503910 | SH |  | DFND | 1 | 503910 | 0 | 0 |
| ISHARES BITCOIN TRUST ETF | CORE S SCP ETF | 464287804 |  | 6839696 | 62583 | SH |  | DFND | 1 | 62583 | 0 | 0 |
| ISHARES TR | COM | 437076102 |  | 6836736 | 18647 | SH |  | DFND | 1 | 18647 | 0 | 0 |
| ISHARES TR | COM | 13646K108 |  | 6404303 | 80791 | SH |  | DFND | 1 | 80791 | 0 | 0 |
| ISHARES TR | PORTFOLIO SHORT | 78464A474 |  | 6176391 | 204584 | SH |  | DFND | 1 | 204584 | 0 | 0 |
| ISHARES TR | CL A | 609207105 |  | 5994202 | 88882 | SH |  | DFND | 1 | 88882 | 0 | 0 |
| ISHARES TR | COM CL A | 009066101 |  | 5982430 | 45205 | SH |  | DFND | 1 | 45205 | 0 | 0 |
| ISHARES TR | COM | 580135101 |  | 5618429 | 19230 | SH |  | DFND | 1 | 19230 | 0 | 0 |
| ISHARES TR | CLASS A COM | 051774107 |  | 5356145 | 1022165 | SH |  | DFND | 1 | 1022165 | 0 | 0 |
| ISHARES TR | COM | 532457108 |  | 5097347 | 6539 | SH |  | DFND | 1 | 6539 | 0 | 0 |
| ISHARES TR | COM | 22160K105 |  | 4452750 | 4498 | SH |  | DFND | 1 | 4498 | 0 | 0 |
| ISHARES TR | COM | 459200101 |  | 4421700 | 15000 | SH |  | DFND | 1 | 15000 | 0 | 0 |
| ISHARES TR | COM CL A | 03831W108 |  | 3997917 | 11420 | SH |  | DFND | 1 | 11420 | 0 | 0 |
| ISHARES TR | CL A | 60937P106 |  | 3883345 | 18493 | SH |  | DFND | 1 | 18493 | 0 | 0 |
| ISHARES TR | COM | 67103H107 |  | 3447473 | 38250 | SH |  | DFND | 1 | 38250 | 0 | 0 |
| ISHARES TR | MSCI EAFE ETF | 464287465 |  | 3430878 | 38381 | SH |  | DFND | 1 | 38381 | 0 | 0 |
| ISHARES TR | CORE HIGH DV ETF | 46429B663 |  | 3420778 | 29195 | SH |  | DFND | 1 | 29195 | 0 | 0 |
| ISHARES TR | S 500 TOP 50 | 46137V233 |  | 3211236 | 61636 | SH |  | DFND | 1 | 61636 | 0 | 0 |
| ISHARES TR | COM | 00508Y102 |  | 3141520 | 10530 | SH |  | DFND | 1 | 10530 | 0 | 0 |
| ISHARES TR | RUS 1000 VAL ETF | 464287598 |  | 2949965 | 15188 | SH |  | DFND | 1 | 15188 | 0 | 0 |
| ISHARES TR | CL A LTD VT SH | 11271J107 |  | 2889570 | 46719 | SH |  | DFND | 1 | 46719 | 0 | 0 |
| ISHARES TR | NASDAQ 100 ETF | 46138G649 |  | 2858735 | 12588 | SH |  | DFND | 1 | 12588 | 0 | 0 |
| ISHARES TR | RUS MID CAP ETF | 464287499 |  | 2851690 | 31000 | SH |  | DFND | 1 | 31000 | 0 | 0 |
| ISHARES TR | COM | 74164M108 |  | 2845621 | 10398 | SH |  | DFND | 1 | 10398 | 0 | 0 |
| ISHARES TR | MSCI EMG MKT ETF | 464287234 |  | 2513352 | 52101 | SH |  | DFND | 1 | 52101 | 0 | 0 |
| ISHARES TR | COM | 871829107 |  | 2451325 | 32365 | SH |  | DFND | 1 | 32365 | 0 | 0 |
| JOHNSON  JOHNSON | GROWTH ETF | 922908736 |  | 2428298 | 5539 | SH |  | DFND | 1 | 5539 | 0 | 0 |
| JPMORGAN CHASE  CO. | COM | 565394103 |  | 2213096 | 48919 | SH |  | DFND | 1 | 48919 | 0 | 0 |
| KKR  CO INC | HIGH DIV YLD | 921946406 |  | 2102032 | 15768 | SH |  | DFND | 1 | 15768 | 0 | 0 |
| KLA CORP | COM | 136375102 |  | 2080800 | 20000 | SH |  | DFND | 1 | 20000 | 0 | 0 |
| LENNAR CORP | MSCI ACWI EX US | 464288240 |  | 2010350 | 32989 | SH |  | DFND | 1 | 32989 | 0 | 0 |
| LOWES COS INC | COM | 79466L302 |  | 1911284 | 7009 | SH |  | DFND | 1 | 7009 | 0 | 0 |
| MAPLEBEAR INC | COM | 911363109 |  | 1902335 | 2525 | SH |  | DFND | 1 | 2525 | 0 | 0 |
| MARKEL GROUP INC | ALLWRLD EX US | 922042775 |  | 1901855 | 28293 | SH |  | DFND | 1 | 28293 | 0 | 0 |
| MASTERCARD INCORPORATED | COM | 754730109 |  | 1710076 | 11150 | SH |  | DFND | 1 | 11150 | 0 | 0 |
| MATCH GROUP INC NEW | COM | 036752103 |  | 1593958 | 4098 | SH |  | DFND | 1 | 4098 | 0 | 0 |
| MCDONALDS CORP | COM | 002824100 |  | 1577716 | 11600 | SH |  | DFND | 1 | 11600 | 0 | 0 |
| MERCADOLIBRE INC | COM | 235851102 |  | 1557998 | 7887 | SH |  | DFND | 1 | 7887 | 0 | 0 |
| MERCK  CO INC | COM | 00287Y109 |  | 1496097 | 8060 | SH |  | DFND | 1 | 8060 | 0 | 0 |
| META PLATFORMS INC | SHORT TRM BOND | 921937827 |  | 1473894 | 18728 | SH |  | DFND | 1 | 18728 | 0 | 0 |
| MICROSOFT CORP | FINANCIAL | 81369Y605 |  | 1455137 | 27791 | SH |  | DFND | 1 | 27791 | 0 | 0 |
| MONDELEZ INTL INC | S 100 ETF | 464287101 |  | 1427097 | 4689 | SH |  | DFND | 1 | 4689 | 0 | 0 |
| MONGODB INC | COM | 260003108 |  | 1418750 | 7743 | SH |  | DFND | 1 | 7743 | 0 | 0 |
| MOODYS CORP | COM | 68389X105 |  | 1409945 | 6449 | SH |  | DFND | 1 | 6449 | 0 | 0 |
| MORGAN STANLEY | RUSSELL 2000 ETF | 464287655 |  | 1402635 | 6500 | SH |  | DFND | 1 | 6500 | 0 | 0 |
| NETFLIX INC | COM NEW | 482480100 |  | 1244240 | 1386 | SH |  | DFND | 1 | 1386 | 0 | 0 |
| NEW YORK TIMES CO | COM | 743315103 |  | 1217415 | 4562 | SH |  | DFND | 1 | 4562 | 0 | 0 |
| NIKE INC | COM | 30231G102 |  | 1148286 | 10652 | SH |  | DFND | 1 | 10652 | 0 | 0 |
| NORFOLK SOUTHN CORP | COM | 257651109 |  | 1109600 | 16000 | SH |  | DFND | 1 | 16000 | 0 | 0 |
| NU HLDGS LTD | COM NEW | 44891N208 |  | 1096190 | 29357 | SH |  | DFND | 1 | 29357 | 0 | 0 |
| NVIDIA CORPORATION | COMMON STOCK | 30190A104 |  | 1052174 | 32901 | SH |  | DFND | 1 | 32901 | 0 | 0 |
| ORACLE CORP | COM | 23331A109 |  | 1046444 | 8117 | SH |  | DFND | 1 | 8117 | 0 | 0 |
| OREILLY AUTOMOTIVE INC | COM | 363576109 |  | 1037829 | 3242 | SH |  | DFND | 1 | 3242 | 0 | 0 |
| PALANTIR TECHNOLOGIES INC | COM | 58933Y105 |  | 1013644 | 12805 | SH |  | DFND | 1 | 12805 | 0 | 0 |
| PALO ALTO NETWORKS INC | FTSE EMR MKT ETF | 922042858 |  | 974807 | 19709 | SH |  | DFND | 1 | 19709 | 0 | 0 |
| PEPSICO INC | COM | 94106L109 |  | 972485 | 4250 | SH |  | DFND | 1 | 4250 | 0 | 0 |
| PHILLIPS 66 | COM NEW | 369604301 |  | 965213 | 3750 | SH |  | DFND | 1 | 3750 | 0 | 0 |
| PRIMERICA INC | U.S. TECH ETF | 464287721 |  | 946747 | 5464 | SH |  | DFND | 1 | 5464 | 0 | 0 |
| PROCORE TECHNOLOGIES INC | RUS MD CP GR ETF | 464287481 |  | 754281 | 5439 | SH |  | DFND | 1 | 5439 | 0 | 0 |
| PROCTER AND GAMBLE CO | CL A | 526057104 |  | 737326 | 6666 | SH |  | DFND | 1 | 6666 | 0 | 0 |
| PROGRESSIVE CORP | COM | 57667L107 |  | 694376 | 22479 | SH |  | DFND | 1 | 22479 | 0 | 0 |
| QUALCOMM INC | COM | 016230104 |  | 689744 | 21106 | SH |  | DFND | 1 | 21106 | 0 | 0 |
| QUANTA SVCS INC | S MC 400GR ETF | 464287606 |  | 687445 | 7556 | SH |  | DFND | 1 | 7556 | 0 | 0 |
| RAYMOND JAMES FINL INC | COM | 20825C104 |  | 685614 | 7640 | SH |  | DFND | 1 | 7640 | 0 | 0 |
| RTX CORPORATION | S SML 600 GWT | 464287887 |  | 665200 | 5000 | SH |  | DFND | 1 | 5000 | 0 | 0 |
| S GLOBAL INC | COM | 929740108 |  | 663221 | 3168 | SH |  | DFND | 1 | 3168 | 0 | 0 |
| SALESFORCE INC | CL A LMT VTG SHS | 113004105 |  | 650038 | 11759 | SH |  | DFND | 1 | 11759 | 0 | 0 |
| SAMSARA INC | COM | 025816109 |  | 630304 | 1976 | SH |  | DFND | 1 | 1976 | 0 | 0 |
| SCHWAB CHARLES CORP | REAL ESTATE ETF | 922908553 |  | 603916 | 6781 | SH |  | DFND | 1 | 6781 | 0 | 0 |
| SELECT SECTOR SPDR TR | SPONSORED ADS | 01609W102 |  | 597444 | 5268 | SH |  | DFND | 1 | 5268 | 0 | 0 |
| SELECT SECTOR SPDR TR | CL A | 650111107 |  | 588910 | 10520 | SH |  | DFND | 1 | 10520 | 0 | 0 |
| SELECT SECTOR SPDR TR | COM | 293792107 |  | 588787 | 18987 | SH |  | DFND | 1 | 18987 | 0 | 0 |
| SELECT SECTOR SPDR TR | COM | 04626A103 |  | 584384 | 6463 | SH |  | DFND | 1 | 6463 | 0 | 0 |
| SELECT SECTOR SPDR TR | COM NEW | 617446448 |  | 555552 | 3944 | SH |  | DFND | 1 | 3944 | 0 | 0 |
| SELECT SECTOR SPDR TR | SHS | G3075P101 |  | 538176 | 1600 | SH |  | DFND | 1 | 1600 | 0 | 0 |
| SERVICENOW INC | SBI HEALTHCARE | 81369Y209 |  | 531477 | 3943 | SH |  | DFND | 1 | 3943 | 0 | 0 |
| SHOPIFY INC | CL B | 654106103 |  | 528468 | 7439 | SH |  | DFND | 1 | 7439 | 0 | 0 |
| SIXTH STREET SPECIALTY LENDI | COM | 570535104 |  | 523308 | 262 | SH |  | DFND | 1 | 262 | 0 | 0 |
| SNOWFLAKE INC | INTERMED TERM | 921937819 |  | 506500 | 6549 | SH |  | DFND | 1 | 6549 | 0 | 0 |
| SPDR GOLD TR | SBI CONS DISCR | 81369Y407 |  | 495078 | 2278 | SH |  | DFND | 1 | 2278 | 0 | 0 |
| SPDR S 500 ETF TR | RUS 2000 GRW ETF | 464287648 |  | 491679 | 1720 | SH |  | DFND | 1 | 1720 | 0 | 0 |
| SPDR SERIES TRUST | SPON ADR NEW | 904767704 |  | 489666 | 8005 | SH |  | DFND | 1 | 8005 | 0 | 0 |
| SPOTIFY TECHNOLOGY S A | COM | 88579Y101 |  | 487168 | 3200 | SH |  | DFND | 1 | 3200 | 0 | 0 |
| STARBUCKS CORP | COM CL A | 10576N102 |  | 482027 | 17154 | SH |  | DFND | 1 | 17154 | 0 | 0 |
| SYSCO CORP | INDL | 81369Y704 |  | 472359 | 3202 | SH |  | DFND | 1 | 3202 | 0 | 0 |
| TAIWAN SEMICONDUCTOR MFG LTD | SBI CONS STPLS | 81369Y308 |  | 470679 | 5813 | SH |  | DFND | 1 | 5813 | 0 | 0 |
| TERAWULF INC | CL A COM | 23804L103 |  | 464647 | 3459 | SH |  | DFND | 1 | 3459 | 0 | 0 |
| THERMO FISHER SCIENTIFIC INC | COM | 438516106 |  | 430577 | 1848 | SH |  | DFND | 1 | 1848 | 0 | 0 |
| UBER TECHNOLOGIES INC | RUS MDCP VAL ETF | 464287473 |  | 426944 | 3231 | SH |  | DFND | 1 | 3231 | 0 | 0 |
| UBIQUITI INC | COM | 427866108 |  | 418194 | 2520 | SH |  | DFND | 1 | 2520 | 0 | 0 |
| UNILEVER PLC | COM | 225310101 |  | 407544 | 800 | SH |  | DFND | 1 | 800 | 0 | 0 |
| UNITED RENTALS INC | COM | 655844108 |  | 406736 | 1589 | SH |  | DFND | 1 | 1589 | 0 | 0 |
| UNITEDHEALTH GROUP INC | COM | 718546104 |  | 395837 | 3318 | SH |  | DFND | 1 | 3318 | 0 | 0 |
| VANGUARD BD INDEX FDS | COM | 713448108 |  | 390970 | 2961 | SH |  | DFND | 1 | 2961 | 0 | 0 |
| VANGUARD BD INDEX FDS | COM | 74275K108 |  | 351200 | 5133 | SH |  | DFND | 1 | 5133 | 0 | 0 |
| VANGUARD BD INDEX FDS | COM | 444859102 |  | 344228 | 1408 | SH |  | DFND | 1 | 1408 | 0 | 0 |
| VANGUARD INDEX FDS | COM | 303250104 |  | 325377 | 178 | SH |  | DFND | 1 | 178 | 0 | 0 |
| VANGUARD INDEX FDS | RUS 2000 VAL ETF | 464287630 |  | 318202 | 2017 | SH |  | DFND | 1 | 2017 | 0 | 0 |
| VANGUARD INDEX FDS | COM | 007903107 |  | 311612 | 2196 | SH |  | DFND | 1 | 2196 | 0 | 0 |
| VANGUARD INDEX FDS | COM | 747525103 |  | 308168 | 1935 | SH |  | DFND | 1 | 1935 | 0 | 0 |
| VANGUARD INTL EQUITY INDEX F | COM | 29414B104 |  | 284680 | 1610 | SH |  | DFND | 1 | 1610 | 0 | 0 |
| VANGUARD INTL EQUITY INDEX F | SHS | G25839104 |  | 278160 | 3000 | SH |  | DFND | 1 | 3000 | 0 | 0 |
| VANGUARD MUN BD FDS | COM | 46284V101 |  | 276529 | 2696 | SH |  | DFND | 1 | 2696 | 0 | 0 |
| VANGUARD SCOTTSDALE FDS | COM | 038222105 |  | 271493 | 1483 | SH |  | DFND | 1 | 1483 | 0 | 0 |
| VANGUARD SCOTTSDALE FDS | COM | 883556102 |  | 270036 | 666 | SH |  | DFND | 1 | 666 | 0 | 0 |
| VANGUARD SCOTTSDALE FDS | COM | 060505104 |  | 253824 | 5364 | SH |  | DFND | 1 | 5364 | 0 | 0 |
| VANGUARD SPECIALIZED FUNDS | COM | 90353W103 |  | 253576 | 616 | SH |  | DFND | 1 | 616 | 0 | 0 |
| VANGUARD STAR FDS | COM | 217204106 |  | 235929 | 4808 | SH |  | DFND | 1 | 4808 | 0 | 0 |
| VANGUARD TAX-MANAGED FDS | CL A NEW | 00183L201 |  | 235218 | 15414 | SH |  | DFND | 1 | 15414 | 0 | 0 |
| VANGUARD WHITEHALL FDS | COM | 053015103 |  | 234384 | 760 | SH |  | DFND | 1 | 760 | 0 | 0 |
| VANGUARD WORLD FD | COM CL A | 79589L106 |  | 223285 | 5613 | SH |  | DFND | 1 | 5613 | 0 | 0 |
| VIMEO INC | COM | 172908105 |  | 222870 | 1000 | SH |  | DFND | 1 | 1000 | 0 | 0 |
| VISA INC | COM | 75513E101 |  | 218008 | 1493 | SH |  | DFND | 1 | 1493 | 0 | 0 |
| WABTEC | SHS | L8681T102 |  | 207182 | 270 | SH |  | DFND | 1 | 270 | 0 | 0 |
| WALMART INC | COM | 254687106 |  | 204989 | 1653 | SH |  | DFND | 1 | 1653 | 0 | 0 |
| WASTE MGMT INC DEL | VANGUARD ULTRA | 92203C303 |  | 203898 | 4089 | SH |  | DFND | 1 | 4089 | 0 | 0 |
| WAYFAIR INC | COM | 88080T104 |  | 81043 | 18503 | SH |  | DFND | 1 | 18503 | 0 | 0 |
| WORKDAY INC | COMMON STOCK | 92719V100 |  | 60871 | 15067 | SH |  | DFND | 1 | 15067 | 0 | 0 |

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