# EDGAR Filing Document

**Accession Number:** 0001022837
**File Stem:** 0001193125-26-047559
**Filing Date:** 2026-2
**Character Count:** 23919
**Document Hash:** b7338f2302527af3d1b5bbed3404b1b1
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-26-047559.hdr.sgml**: 20260212

**ACCESSION NUMBER**: 0001193125-26-047559

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

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260212

**DATE AS OF CHANGE**: 20260212

**EFFECTIVENESS DATE**: 20260212

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** SUMITOMO MITSUI FINANCIAL GROUP, INC.
- **CENTRAL INDEX KEY:** 0001022837
- **STANDARD INDUSTRIAL CLASSIFICATION:** COMMERCIAL BANKS, NEC [6029]
- **ORGANIZATION NAME:** 02 Finance
- **EIN:** 000000000
- **STATE OF INCORPORATION:** M0
- **FISCAL YEAR END:** 0331

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-17794
- **FILM NUMBER:** 26623234

**BUSINESS ADDRESS:**
- **STREET 1:** 1-2, MARUNOUCHI 1-CHOME
- **STREET 2:** CHIYODA-KU
- **CITY:** TOKYO
- **STATE:** M0
- **ZIP:** 100-0005
- **BUSINESS PHONE:** 81-3-3282-8111

**MAIL ADDRESS:**
- **STREET 1:** 1-2, MARUNOUCHI 1-CHOME
- **STREET 2:** CHIYODA-KU
- **CITY:** TOKYO
- **STATE:** M0
- **ZIP:** 100-0005

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** SUMITOMO MITSUI FINANCIAL GROUP/FI
- **DATE OF NAME CHANGE:** 20021226

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** SUMITOMO BANK LTD TOKYO     /FI
- **DATE OF NAME CHANGE:** 19960913

### FORM 13F COVER PAGE

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

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

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

[ ] adds new holdings entries.

**Institutional Investment Manager Filing this Report:**

**Name:** SUMITOMO MITSUI FINANCIAL GROUP INC.<br>**Address:** 1-2 MARUNOUCHI 1-CHOME<br>CHIYODA-KU<br>TOKYO, M0 100-0005

**Form 13F File Number:** 028-17794

**CRD Number (if applicable):** 000301509

**SEC File Number (if applicable):** 801-116710

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:** Osahiro Yamamoto<br>**Title:** General Manager Planning Dept. Global Markets Business Unit<br>**Phone:** 81-3-3283-5709

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

/s/ Osahiro Yamamoto  Tokyo, M0  02-12-2026<br>[Signature]  [City, State]  [Date]

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

[ ] **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).)

[x] **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:** 4

**Form 13F Information Table Entry Total:** 195

**Form 13F Information Table Value Total:** $5649434167

      (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   |   CRD Number | SEC File Number   |
|---:|:---|:---|---:|:---|
|     1 | Sumitomo Mitsui DS Asset Management Company Ltd | 028-14064              |    000301509 | 801-116710        |
|     2 | TT International Asset Management LTD           | 028-20249              |    000110858 | 801-45435         |

### 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 |
| NVIDIA CORPORATION | COM | 67066G104 |  | 2901411 | 15415 | SH |  | DFND | 3 | 15415 | 0 | 0 |
| MICRON TECHNOLOGY INC | COM | 595112103 |  | 657917 | 2235 | SH |  | DFND | 3 | 2235 | 0 | 0 |
| APPLE INC | COM | 037833100 |  | 631564 | 2307 | SH |  | DFND | 3 | 2307 | 0 | 0 |
| MICROSOFT CORP | COM | 594918104 |  | 497329 | 1021 | SH |  | DFND | 3 | 1021 | 0 | 0 |
| VERTIV HOLDINGS CO | COM CL A | 92537N108 |  | 490235 | 2960 | SH |  | DFND | 3 | 2960 | 0 | 0 |
| SALESFORCE INC | COM | 79466L302 |  | 424371 | 1594 | SH |  | DFND | 3 | 1594 | 0 | 0 |
| BROADCOM INC | COM | 11135F101 |  | 406690 | 1164 | SH |  | DFND | 3 | 1164 | 0 | 0 |
| ALPHABET INC | CAP STK CL A | 02079K305 |  | 390382 | 1245 | SH |  | DFND | 3 | 1245 | 0 | 0 |
| TAIWAN SEMICONDUCTOR MFG LTD | SPONSORED ADS | 874039100 |  | 370132 | 1230 | SH |  | DFND | 3 | 0 | 0 | 1230 |
| JOHNSON  JOHNSON | COM | 478160104 |  | 320265 | 1543 | SH |  | DFND | 3 | 1543 | 0 | 0 |
| ROKU INC | COM CL A | 77543R102 |  | 300348 | 2700 | SH |  | DFND | 3 | 2700 | 0 | 0 |
| ARISTA NETWORKS INC | COM SHS | 040413205 |  | 279300 | 2082 | SH |  | DFND | 3 | 2082 | 0 | 0 |
| META PLATFORMS INC | CL A | 30303M102 |  | 273356 | 415 | SH |  | DFND | 3 | 415 | 0 | 0 |
| ALBEMARLE CORP | COM | 012653101 |  | 261690 | 1810 | SH |  | DFND | 3 | 1810 | 0 | 0 |
| AMAZON COM INC | COM | 023135106 |  | 254349 | 1096 | SH |  | DFND | 3 | 1096 | 0 | 0 |
| ELI LILLY  CO | COM | 532457108 |  | 248108 | 230 | SH |  | DFND | 3 | 230 | 0 | 0 |
| VISA INC | COM CL A | 92826C839 |  | 212766 | 600 | SH |  | DFND | 3 | 600 | 0 | 0 |
| SHOPIFY INC | CL A SUB VTG SHS | 82509L107 |  | 196923 | 1173 | SH |  | DFND | 3 | 1173 | 0 | 0 |
| LAM RESEARCH CORP | COM NEW | 512807306 |  | 184664 | 1050 | SH |  | DFND | 3 | 1050 | 0 | 0 |
| MORGAN STANLEY | COM NEW | 617446448 |  | 179940 | 1000 | SH |  | DFND | 3 | 1000 | 0 | 0 |
| GOLDMAN SACHS GROUP INC | COM | 38141G104 |  | 178436 | 200 | SH |  | DFND | 3 | 200 | 0 | 0 |
| ASML HOLDING N V | N Y REGISTRY SHS | N07059210 |  | 170559 | 160 | SH |  | DFND | 3 | 160 | 0 | 0 |
| CORNING INC | COM | 219350105 |  | 169100 | 1900 | SH |  | DFND | 3 | 1900 | 0 | 0 |
| TESLA INC | COM | 88160R101 |  | 165011 | 359 | SH |  | DFND | 3 | 359 | 0 | 0 |
| COCA COLA CO | COM | 191216100 |  | 161368 | 2300 | SH |  | DFND | 3 | 2300 | 0 | 0 |
| VERIZON COMMUNICATIONS INC | COM | 92343V104 |  | 151800 | 3750 | SH |  | DFND | 3 | 3750 | 0 | 0 |
| QUALCOMM INC | COM | 747525103 |  | 147416 | 850 | SH |  | DFND | 3 | 850 | 0 | 0 |
| GE AEROSPACE | COM NEW | 369604301 |  | 136784 | 439 | SH |  | DFND | 3 | 439 | 0 | 0 |
| PALANTIR TECHNOLOGIES INC | CL A | 69608A108 |  | 132425 | 719 | SH |  | DFND | 3 | 719 | 0 | 0 |
| LULULEMON ATHLETICA INC | COM | 550021109 |  | 127524 | 600 | SH |  | DFND | 3 | 600 | 0 | 0 |
| CATERPILLAR INC | COM | 149123101 |  | 127294 | 220 | SH |  | DFND | 3 | 220 | 0 | 0 |
| CISCO SYS INC | COM | 17275R102 |  | 124464 | 1600 | SH |  | DFND | 3 | 1600 | 0 | 0 |
| CROWDSTRIKE HLDGS INC | CL A | 22788C105 |  | 117074 | 246 | SH |  | DFND | 3 | 246 | 0 | 0 |
| UNITEDHEALTH GROUP INC | COM | 91324P102 |  | 115129 | 350 | SH |  | DFND | 3 | 350 | 0 | 0 |
| INTERNATIONAL BUSINESS MACHS | COM | 459200101 |  | 111289 | 364 | SH |  | DFND | 3 | 364 | 0 | 0 |
| BARRICK MNG CORP | COM SHS | 06849F108 |  | 96844 | 2200 | SH |  | DFND | 3 | 2200 | 0 | 0 |
| NETFLIX INC | COM | 64110L106 |  | 94150 | 1000 | SH |  | DFND | 3 | 1000 | 0 | 0 |
| AFLAC INC | COM | 001055102 |  | 93686 | 852 | SH |  | DFND | 3 | 852 | 0 | 0 |
| ARM HOLDINGS PLC | SPONSORED ADS | 042068205 |  | 82993 | 751 | SH |  | DFND | 3 | 751 | 0 | 0 |
| TEXAS INSTRS INC | COM | 882508104 |  | 80817 | 460 | SH |  | DFND | 3 | 460 | 0 | 0 |
| CADENCE DESIGN SYSTEM INC | COM | 127387108 |  | 63542 | 200 | SH |  | DFND | 3 | 200 | 0 | 0 |
| MARVELL TECHNOLOGY INC | COM | 573874104 |  | 60032 | 700 | SH |  | DFND | 3 | 700 | 0 | 0 |
| MASTERCARD INCORPORATED | CL A | 57636Q104 |  | 57790 | 100 | SH |  | DFND | 3 | 100 | 0 | 0 |
| ALPHABET INC | CAP STK CL C | 02079K107 |  | 52189 | 166 | SH |  | DFND | 3 | 0 | 0 | 166 |
| FREEPORT-MCMORAN INC | CL B | 35671D857 |  | 51480 | 1000 | SH |  | DFND | 3 | 1000 | 0 | 0 |
| ZSCALER INC | COM | 98980G102 |  | 49024 | 215 | SH |  | DFND | 3 | 215 | 0 | 0 |
| ZOOM COMMUNICATIONS INC | CL A | 98980L101 |  | 40402 | 468 | SH |  | DFND | 3 | 468 | 0 | 0 |
| CARNIVAL CORP | UNIT 99/99/9999 | 143658300 |  | 35082 | 1142 | SH |  | DFND | 3 | 1142 | 0 | 0 |
| ADOBE INC | COM | 00724F101 |  | 28253 | 80 | SH |  | DFND | 3 | 80 | 0 | 0 |
| BLOCK INC | CL A | 852234103 |  | 18853 | 286 | SH |  | DFND | 3 | 286 | 0 | 0 |
| WALMART INC | COM | 931142103 |  | 9227 | 82 | SH |  | DFND | 3 | 82 | 0 | 0 |
| MCDONALDS CORP | COM | 580135101 |  | 4628 | 15 | SH |  | DFND | 3 | 15 | 0 | 0 |
| ADVANCED MICRO DEVICES INC | Call | 007903907 |  | 19825 | 1000 | SH | Call | DFND | 3 | 1000 | 0 | 0 |
| ADVANCED MICRO DEVICES INC | Put | 007903957 |  | 85125 | 5000 | SH | Put | DFND | 3 | 5000 | 0 | 0 |
| ARM HOLDINGS PLC | Put | 042068955 |  | 44190 | 1800 | SH | Put | DFND | 3 | 1800 | 0 | 0 |
| MICRON TECHNOLOGY INC | Put | 595112953 |  | 282 | 15000 | SH | Put | DFND | 3 | 15000 | 0 | 0 |
| INVESCO QQQ TR | Call | 46090E903 |  | 249938 | 12500 | SH | Call | DFND | 3 | 0 | 0 | 12500 |
| INVESCO QQQ TR | Put | 46090E953 |  | 596394 | 30700 | SH | Put | DFND | 3 | 0 | 0 | 30700 |
| CELSIUS HLDGS INC | Call | 15118V907 |  | 550843 | 100000 | SH | Call | DFND | 3 | 100000 | 0 | 0 |
| FREEPORT-MCMORAN INC | Call | 35671D907 |  | 18863 | 7500 | SH | Call | DFND | 3 | 7500 | 0 | 0 |
| FREEPORT-MCMORAN INC | Put | 35671D957 |  | 34980 | 12000 | SH | Put | DFND | 3 | 12000 | 0 | 0 |
| MARVELL TECHNOLOGY INC | Call | 573874904 |  | 17750 | 2500 | SH | Call | DFND | 3 | 2500 | 0 | 0 |
| MARVELL TECHNOLOGY INC | Put | 573874954 |  | 30525 | 5500 | SH | Put | DFND | 3 | 5500 | 0 | 0 |
| QUALCOMM INC | Call | 747525903 |  | 9250 | 2000 | SH | Call | DFND | 3 | 2000 | 0 | 0 |
| QUALCOMM INC | Put | 747525953 |  | 34100 | 4000 | SH | Put | DFND | 3 | 4000 | 0 | 0 |
| ORACLE CORP | Put | 68389X955 |  | 5005 | 1400 | SH | Put | DFND | 3 | 1400 | 0 | 0 |
| CELSIUS HLDGS INC | COM NEW | 15118V207 |  | 4574000 | 100000 | SH |  | DFND | 3 | 100000 | 0 | 0 |
| AIR PRODS  CHEMS INC | COM | 009158106 |  | 2046808 | 8286 | SH |  | DFND | 2 | 0 | 0 | 8286 |
| ALPHABET INC | CAP STK CL C | 02079K107 |  | 75579671 | 240853 | SH |  | DFND | 2 | 0 | 0 | 240853 |
| AMAZON COM INC | COM | 023135106 |  | 48215759 | 208889 | SH |  | DFND | 2 | 0 | 0 | 208889 |
| AMERICAN EXPRESS CO | COM | 025816109 |  | 32137926 | 86871 | SH |  | DFND | 2 | 0 | 0 | 86871 |
| AMGEN INC | COM | 031162100 |  | 25570439 | 78123 | SH |  | DFND | 2 | 0 | 0 | 78123 |
| ARISTA NETWORKS INC | COM SHS | 040413205 |  | 60343246 | 460530 | SH |  | DFND | 2 | 0 | 0 | 460530 |
| AT INC | COM | 00206R102 |  | 2117163 | 85232 | SH |  | DFND | 2 | 0 | 0 | 85232 |
| BANK NEW YORK MELLON CORP | COM | 064058100 |  | 2715345 | 23390 | SH |  | DFND | 2 | 0 | 0 | 23390 |
| BLACKROCK INC | COM | 09290D101 |  | 24458339 | 22851 | SH |  | DFND | 2 | 0 | 0 | 22851 |
| BOSTON SCIENTIFIC CORP | COM | 101137107 |  | 25732581 | 269875 | SH |  | DFND | 2 | 0 | 0 | 269875 |
| BRISTOL-MYERS SQUIBB CO | COM | 110122108 |  | 2307661 | 42782 | SH |  | DFND | 2 | 0 | 0 | 42782 |
| BROADCOM INC | COM | 11135F101 |  | 76896498 | 222180 | SH |  | DFND | 2 | 0 | 0 | 222180 |
| CISCO SYS INC | COM | 17275R102 |  | 5217165 | 67729 | SH |  | DFND | 2 | 0 | 0 | 67729 |
| COCA COLA CO | COM | 191216100 |  | 19988248 | 285914 | SH |  | DFND | 2 | 0 | 0 | 285914 |
| COSTCO WHSL CORP NEW | COM | 22160K105 |  | 9144253 | 10604 | SH |  | DFND | 2 | 0 | 0 | 10604 |
| D R HORTON INC | COM | 23331A109 |  | 24377798 | 169255 | SH |  | DFND | 2 | 0 | 0 | 169255 |
| EXCHANGE TRADED CONCEPTS TRU | EMQQ THE EMERGIN | 301505889 |  | 37777 | 936 | SH |  | DFND | 2 | 0 | 0 | 936 |
| FIDELITY COVINGTON TRUST | STOCK FOR INFL | 316092386 |  | 118109 | 2387 | SH |  | DFND | 2 | 0 | 0 | 2387 |
| FIRST SOLAR INC | COM | 336433107 |  | 29290414 | 112125 | SH |  | DFND | 2 | 0 | 0 | 112125 |
| FIRST TR EXCHANGE TRADED FD | CLOUD COMPUTING | 33734X192 |  | 2034191 | 15638 | SH |  | DFND | 2 | 0 | 0 | 15638 |
| FIRST TR EXCHANGE TRADED FD | NASDAQ CYB ETF | 33734X846 |  | 5414410 | 75779 | SH |  | DFND | 2 | 0 | 0 | 75779 |
| FIRST TR EXCHANGE-TRADED FD | NAS CLNEDG GREEN | 33733E500 |  | 251546 | 5641 | SH |  | DFND | 2 | 0 | 0 | 5641 |
| GE AEROSPACE | COM NEW | 369604301 |  | 33763476 | 109611 | SH |  | DFND | 2 | 0 | 0 | 109611 |
| GENERAL MLS INC | COM | 370334104 |  | 785339 | 16889 | SH |  | DFND | 2 | 0 | 0 | 16889 |
| GLOBAL X FDS | MSCI CHINA CNSMR | 37950E408 |  | 35768 | 1682 | SH |  | DFND | 2 | 0 | 0 | 1682 |
| GLOBAL X  FDS | US INFR DEV ETF | 37954Y673 |  | 840865 | 17595 | SH |  | DFND | 2 | 0 | 0 | 17595 |
| HOME DEPOT INC | COM | 437076102 |  | 3823639 | 11112 | SH |  | DFND | 2 | 0 | 0 | 11112 |
| ILLINOIS TOOL WKS INC | COM | 452308109 |  | 338170 | 1373 | SH |  | DFND | 2 | 0 | 0 | 1373 |
| INTUIT | COM | 461202103 |  | 29431321 | 44430 | SH |  | DFND | 2 | 0 | 0 | 44430 |
| INVESCO EXCH TRADED FD TR II | S LOW VOL | 46138E354 |  | 13998 | 196 | SH |  | DFND | 2 | 0 | 0 | 196 |
| INVESCO EXCH TRADED FD TR II | TAXABLE MUN BD | 46138G805 |  | 17209658 | 632708 | SH |  | DFND | 2 | 0 | 0 | 632708 |
| INVESCO QQQ TR | UNIT SER 1 | 46090E103 |  | 29871438 | 48626 | SH |  | DFND | 2 | 0 | 0 | 48626 |
| ISHARES INC | CORE MSCI EMKT | 46434G103 |  | 1317646 | 19602 | SH |  | DFND | 2 | 0 | 0 | 19602 |
| ISHARES INC | MSCI JAPAN ETF | 46434G822 |  | 256672 | 3179 | SH |  | DFND | 2 | 0 | 0 | 3179 |
| ISHARES INC | MSCI TAIWAN ETF | 46434G772 |  | 7242 | 114 | SH |  | DFND | 2 | 0 | 0 | 114 |
| ISHARES TR | 0-3 MNTH TREASRY | 46436E718 |  | 12741535 | 126933 | SH |  | DFND | 2 | 0 | 0 | 126933 |
| ISHARES TR | 1 3 YR TREAS BD | 464287457 |  | 10281606 | 124144 | SH |  | DFND | 2 | 0 | 0 | 124144 |
| ISHARES TR | 20 YR TR BD ETF | 464287432 |  | 26153491 | 300063 | SH |  | DFND | 2 | 0 | 0 | 300063 |
| ISHARES TR | 3 7 YR TREAS BD | 464288661 |  | 5230633 | 43826 | SH |  | DFND | 2 | 0 | 0 | 43826 |
| ISHARES TR | 7-10 YR TRSY BD | 464287440 |  | 80086760 | 832849 | SH |  | DFND | 2 | 0 | 0 | 832849 |
| ISHARES TR | CHINA LG-CAP ETF | 464287184 |  | 485019 | 12667 | SH |  | DFND | 2 | 0 | 0 | 12667 |
| ISHARES TR | CORE US AGGBD ET | 464287226 |  | 134998208 | 1351604 | SH |  | DFND | 2 | 0 | 0 | 1351604 |
| ISHARES TR | CUR HD EURZN ETF | 46434V639 |  | 49449 | 1130 | SH |  | DFND | 2 | 0 | 0 | 1130 |
| ISHARES TR | ESG AWR US AGRGT | 46435U549 |  | 105079 | 2196 | SH |  | DFND | 2 | 0 | 0 | 2196 |
| ISHARES TR | EXPANDED TECH | 464287515 |  | 4588543 | 43411 | SH |  | DFND | 2 | 0 | 0 | 43411 |
| ISHARES TR | GLOBAL REIT ETF | 46434V647 |  | 2615010 | 104810 | SH |  | DFND | 2 | 0 | 0 | 104810 |
| ISHARES TR | HDG MSCI JAPAN | 46434V886 |  | 296429 | 5625 | SH |  | DFND | 2 | 0 | 0 | 5625 |
| ISHARES TR | IBOXX HI YD ETF | 464288513 |  | 57289873 | 710528 | SH |  | DFND | 2 | 0 | 0 | 710528 |
| ISHARES TR | IBOXX INV CP ETF | 464287242 |  | 90189964 | 818495 | SH |  | DFND | 2 | 0 | 0 | 818495 |
| ISHARES TR | ISHARES BIOTECH | 464287556 |  | 827142 | 4901 | SH |  | DFND | 2 | 0 | 0 | 4901 |
| ISHARES TR | ISHARES SEMICDTR | 464287523 |  | 3759255 | 12483 | SH |  | DFND | 2 | 0 | 0 | 12483 |
| ISHARES TR | ISHS 1-5YR INVS | 464288646 |  | 55749163 | 1054258 | SH |  | DFND | 2 | 0 | 0 | 1054258 |
| ISHARES TR | JPMORGAN USD EMG | 464288281 |  | 1554055 | 16141 | SH |  | DFND | 2 | 0 | 0 | 16141 |
| ISHARES TR | MBS ETF | 464288588 |  | 43186269 | 453542 | SH |  | DFND | 2 | 0 | 0 | 453542 |
| ISHARES TR | MORTGE REL ETF | 46435G342 |  | 373312 | 16831 | SH |  | DFND | 2 | 0 | 0 | 16831 |
| ISHARES TR | MSCI EMG MKT ETF | 464287234 |  | 3958761 | 72359 | SH |  | DFND | 2 | 0 | 0 | 72359 |
| ISHARES TR | MSCI INDIA ETF | 46429B598 |  | 8108562 | 149881 | SH |  | DFND | 2 | 0 | 0 | 149881 |
| ISHARES TR | MSCI INDONIA ETF | 46429B309 |  | 12024 | 643 | SH |  | DFND | 2 | 0 | 0 | 643 |
| ISHARES TR | MSCI USA MIN VOL | 46429B697 |  | 33818 | 359 | SH |  | DFND | 2 | 0 | 0 | 359 |
| ISHARES TR | PFD AND INCM SEC | 464288687 |  | 35622669 | 1150603 | SH |  | DFND | 2 | 0 | 0 | 1150603 |
| ISHARES TR | RUSSELL 2000 ETF | 464287655 |  | 156072 | 634 | SH |  | DFND | 2 | 0 | 0 | 634 |
| ISHARES TR | SELECT DIVID ETF | 464287168 |  | 806897 | 5717 | SH |  | DFND | 2 | 0 | 0 | 5717 |
| ISHARES TR | TIPS BD ETF | 464287176 |  | 7135687 | 64923 | SH |  | DFND | 2 | 0 | 0 | 64923 |
| ISHARES TR | TRUST ISHARE 0-1 | 464288679 |  | 11983219 | 108790 | SH |  | DFND | 2 | 0 | 0 | 108790 |
| ISHARES TR | U.S. ENERGY ETF | 464287796 |  | 3531289 | 74296 | SH |  | DFND | 2 | 0 | 0 | 74296 |
| ISHARES TR | U.S.MED DVC ETF | 464288810 |  | 1324727 | 21315 | SH |  | DFND | 2 | 0 | 0 | 21315 |
| ISHARES TR | U.S. REAL ES ETF | 464287739 |  | 11938207 | 127151 | SH |  | DFND | 2 | 0 | 0 | 127151 |
| ISHARES TR | US OIL GS EX ETF | 464288851 |  | 172079 | 1958 | SH |  | DFND | 2 | 0 | 0 | 1958 |
| ISHARES TR | US TREAS BD ETF | 46429B267 |  | 16421933 | 713067 | SH |  | DFND | 2 | 0 | 0 | 713067 |
| JPMORGAN CHASE  CO. | COM | 46625H100 |  | 42582984 | 132155 | SH |  | DFND | 2 | 0 | 0 | 132155 |
| KIMBERLY-CLARK CORP | COM | 494368103 |  | 574569 | 5695 | SH |  | DFND | 2 | 0 | 0 | 5695 |
| META PLATFORMS INC | CL A | 30303M102 |  | 49467805 | 74941 | SH |  | DFND | 2 | 0 | 0 | 74941 |
| MICROSOFT CORP | COM | 594918104 |  | 51975609 | 107472 | SH |  | DFND | 2 | 0 | 0 | 107472 |
| MONDELEZ INTL INC | CL A | 609207105 |  | 469667 | 8725 | SH |  | DFND | 2 | 0 | 0 | 8725 |
| NEWMONT CORP | COM | 651639106 |  | 18971899 | 190004 | SH |  | DFND | 2 | 0 | 0 | 190004 |
| NVIDIA CORPORATION | COM | 67066G104 |  | 82509652 | 442411 | SH |  | DFND | 2 | 0 | 0 | 442411 |
| OMNICOM GROUP INC | COM | 681919106 |  | 1982978 | 24557 | SH |  | DFND | 2 | 0 | 0 | 24557 |
| PEPSICO INC | COM | 713448108 |  | 3580680 | 24949 | SH |  | DFND | 2 | 0 | 0 | 24949 |
| PFIZER INC | COM | 717081103 |  | 4736055 | 190203 | SH |  | DFND | 2 | 0 | 0 | 190203 |
| PIMCO ETF TR | ACTIVE BD ETF | 72201R775 |  | 204776 | 2200 | SH |  | DFND | 2 | 0 | 0 | 2200 |
| PIMCO ETF TR | MULTISECTOR BD | 72201R585 |  | 67447 | 2528 | SH |  | DFND | 2 | 0 | 0 | 2528 |
| PROCTER AND GAMBLE CO | COM | 742718109 |  | 4046788 | 28238 | SH |  | DFND | 2 | 0 | 0 | 28238 |
| PROSHARES TR | SHORT S 500 NE | 74349Y753 |  | 432360 | 12000 | SH |  | DFND | 2 | 0 | 0 | 12000 |
| QUALCOMM INC | COM | 747525103 |  | 10866293 | 63527 | SH |  | DFND | 2 | 0 | 0 | 63527 |
| RALPH LAUREN CORP | CL A | 751212101 |  | 4333491 | 12255 | SH |  | DFND | 2 | 0 | 0 | 12255 |
| SCHWAB STRATEGIC TR | US DIVIDEND EQ | 808524797 |  | 3040616 | 110850 | SH |  | DFND | 2 | 0 | 0 | 110850 |
| SELECT SECTOR SPDR TR | STATE STREET COM | 81369Y852 |  | 926221 | 7868 | SH |  | DFND | 2 | 0 | 0 | 7868 |
| SELECT SECTOR SPDR TR | STATE STREET CON | 81369Y308 |  | 9543687 | 122859 | SH |  | DFND | 2 | 0 | 0 | 122859 |
| SELECT SECTOR SPDR TR | STATE STREET ENE | 81369Y506 |  | 116246 | 2600 | SH |  | DFND | 2 | 0 | 0 | 2600 |
| SELECT SECTOR SPDR TR | STATE STREET FIN | 81369Y605 |  | 30343 | 554 | SH |  | DFND | 2 | 0 | 0 | 554 |
| SELECT SECTOR SPDR TR | STATE STREET IND | 81369Y704 |  | 465 | 3 | SH |  | DFND | 2 | 0 | 0 | 3 |
| SELECT SECTOR SPDR TR | STATE STREET MAT | 81369Y100 |  | 53785 | 1186 | SH |  | DFND | 2 | 0 | 0 | 1186 |
| SELECT SECTOR SPDR TR | STATE STREET UTI | 81369Y886 |  | 9453231 | 221439 | SH |  | DFND | 2 | 0 | 0 | 221439 |
| SPDR GOLD TR | GOLD SHS | 78463V107 |  | 216693985 | 546779 | SH |  | DFND | 2 | 0 | 0 | 546779 |
| SPDR S 500 ETF TR | TR UNIT | 78462F103 |  | 93286630 | 136812 | SH |  | DFND | 2 | 0 | 0 | 136812 |
| SPDR SERIES TRUST | STATE STREET SPD | 78464A763 |  | 5292116 | 38029 | SH |  | DFND | 2 | 0 | 0 | 38029 |
| SPDR SERIES TRUST | STATE STREET SPD | 78464A870 |  | 64445021 | 9424 | SH |  | DFND | 2 | 0 | 0 | 9424 |
| SPDR SERIES TRUST | STATE STREET SPD | 78468R408 |  | 1149068 | 2545222 | SH |  | DFND | 2 | 0 | 0 | 2545222 |
| SSGA ACTIVE TR | SPDR BRIDGEWATER | 78470P630 |  | 6593064 | 239835 | SH |  | DFND | 2 | 0 | 0 | 239835 |
| SYSCO CORP | COM | 871829107 |  | 991425 | 13454 | SH |  | DFND | 2 | 0 | 0 | 13454 |
| TEXAS INSTRS INC | COM | 882508104 |  | 3342632 | 19267 | SH |  | DFND | 2 | 0 | 0 | 19267 |
| ULTA BEAUTY INC | COM | 90384S303 |  | 10871425 | 17969 | SH |  | DFND | 2 | 0 | 0 | 17969 |
| UNITEDHEALTH GROUP INC | COM | 91324P102 |  | 33641510 | 101910 | SH |  | DFND | 2 | 0 | 0 | 101910 |
| VANECK ETF TRUST | GOLD MINERS ETF | 92189F106 |  | 1942862 | 22652 | SH |  | DFND | 2 | 0 | 0 | 22652 |
| VANECK ETF TRUST | JUNIOR GOLD MINE | 92189F791 |  | 617825 | 5430 | SH |  | DFND | 2 | 0 | 0 | 5430 |
| VANGUARD INDEX FDS | REAL ESTATE ETF | 922908553 |  | 1251426 | 14142 | SH |  | DFND | 2 | 0 | 0 | 14142 |
| VANGUARD INDEX FDS | S 500 ETF SHS | 922908363 |  | 10848203 | 17299 | SH |  | DFND | 2 | 0 | 0 | 17299 |
| VANGUARD INTL EQUITY INDEX F | TT WRLD ST ETF | 922042742 |  | 309627 | 2195 | SH |  | DFND | 2 | 0 | 0 | 2195 |
| VANGUARD SCOTTSDALE FDS | INT-TERM CORP | 92206C870 |  | 4241770 | 50648 | SH |  | DFND | 2 | 0 | 0 | 50648 |
| VANGUARD SCOTTSDALE FDS | LG-TERM COR BD | 92206C813 |  | 6051920 | 79788 | SH |  | DFND | 2 | 0 | 0 | 79788 |
| VANGUARD SCOTTSDALE FDS | SHRT TRM CORP BD | 92206C409 |  | 8025064 | 100653 | SH |  | DFND | 2 | 0 | 0 | 100653 |
| VANGUARD WORLD FD | CONSUM DIS ETF | 92204A108 |  | 703935 | 1787 | SH |  | DFND | 2 | 0 | 0 | 1787 |
| VANGUARD WORLD FD | ESG US STK ETF | 921910733 |  | 113432 | 938 | SH |  | DFND | 2 | 0 | 0 | 938 |
| VANGUARD WORLD FD | HEALTH CAR ETF | 92204A504 |  | 768560 | 2670 | SH |  | DFND | 2 | 0 | 0 | 2670 |
| VANGUARD WORLD FD | INF TECH ETF | 92204A702 |  | 20532213 | 27239 | SH |  | DFND | 2 | 0 | 0 | 27239 |
| VERIZON COMMUNICATIONS INC | COM | 92343V104 |  | 702104 | 17238 | SH |  | DFND | 2 | 0 | 0 | 17238 |
| WISDOMTREE TR | CLOUD COMPUTNG | 97717Y691 |  | 1040777 | 29728 | SH |  | DFND | 2 | 0 | 0 | 29728 |
| WISDOMTREE TR | EM EX ST-OWNED | 97717X578 |  | 119323 | 3058 | SH |  | DFND | 2 | 0 | 0 | 3058 |
| WW GRAINGER INC | COM | 384802104 |  | 22718761 | 22515 | SH |  | DFND | 2 | 0 | 0 | 22515 |
| BLOCK INC | CL A | 852234103 |  | 59097164 | 907930 | SH |  | DFND | 4 | 907930 | 0 | 0 |
| JEFFERIES FINL GROUP INC | COM | 47233W109 |  | 573041610 | 9247081 | SH |  | DFND | 1 | 9247081 | 0 | 0 |
| CME GROUP INC | COM | 12572Q105 |  | 128851637 | 471846 | SH |  | DFND | 1 | 471846 | 0 | 0 |
| ARES MANAGEMENT CORPORATION | CL A COM STK | 03990B101 |  | 2160142926 | 13364740 | SH |  | DFND | 1 | 13364740 | 0 | 0 |
| INVESCO QQQ TR | UNIT SER 1 | 46090E103 |  | 80525900 | 130000 | SH |  | DFND | 1 | 130000 | 0 | 0 |
| ISHARES TR | CORE S ETF | 464287200 |  | 71061760 | 103000 | SH |  | DFND | 1 | 103000 | 0 | 0 |
| SPDR S 500 ETF TR | TR UNIT | 78462F103 |  | 423679067 | 616700 | SH |  | DFND | 1 | 616700 | 0 | 0 |
| SELECT SECTOR SPDR TR | STATE STREET TEC | 81369Y803 |  | 67761060 | 466000 | SH |  | DFND | 1 | 466000 | 0 | 0 |
| KENNEDY-WILSON HOLDINGS INC COM | COM | 489398107 |  | 26745924 | 2765866 | SH |  | DFND |  | 2765866 | 0 | 0 |

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