# EDGAR Filing Document

**Accession Number:** 0001609120
**File Stem:** 0001104659-26-056347
**Filing Date:** 2026-5
**Character Count:** 18525
**Document Hash:** 06b1a4bbda68d00a579ee62d172c86a7
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001104659-26-056347.hdr.sgml**: 20260506

**ACCESSION NUMBER**: 0001104659-26-056347

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

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260331

**FILED AS OF DATE**: 20260506

**DATE AS OF CHANGE**: 20260506

**EFFECTIVENESS DATE**: 20260506

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Freemont Management S.A.
- **CENTRAL INDEX KEY:** 0001609120

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** V8
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-20978
- **FILM NUMBER:** 26949523

**BUSINESS ADDRESS:**
- **STREET 1:** RUE DES REMPARTS 2
- **STREET 2:** LUTRY
- **CITY:** VAUD
- **STATE:** V8
- **ZIP:** 1095
- **BUSINESS PHONE:** 0041217969000

**MAIL ADDRESS:**
- **STREET 1:** RUE DES REMPARTS 2
- **STREET 2:** LUTRY
- **CITY:** VAUD
- **STATE:** V8
- **ZIP:** 1095

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Tetral S.A.
- **DATE OF NAME CHANGE:** 20140523

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 03-31-2026

**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:** Freemont Management S.A.<br>**Address:** RUE DES REMPARTS 2<br>LUTRY<br>VAUD, V8 1095

**Form 13F File Number:** 028-20978

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:** Pascale Vidalie Stephane Junod<br>**Title:** Chief Financial Officer Chief Investment Officer<br>**Phone:** 41217969000

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

/s/ Pascale Vidalie /s/ Stephane Junod  Lutry, V8  05-05-2026<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:** 0

**Form 13F Information Table Entry Total:** 136

**Form 13F Information Table Value Total:** $660632650

      (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.]

**NONE**

### 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 |
| Abbott Laboratories | Common Stock | 002824100 |  | 995899 | 9700 | SH |  | DFND |  | 0 | 9700 | 0 |
| AbbVie Inc. | Common Stock | 00287Y109 |  | 2218398 | 10200 | SH |  | DFND |  | 0 | 10200 | 0 |
| Advanced Micro Devices Inc. | Common Stock | 007903107 |  | 2522532 | 12400 | SH |  | DFND |  | 0 | 12400 | 0 |
| AeroVironment Inc. | Common Stock | 008073108 |  | 1043385 | 5700 | SH |  | DFND |  | 0 | 5700 | 0 |
| Alcoa Corporation | Common Stock | 013872106 |  | 1658250 | 25000 | SH |  | DFND |  | 0 | 25000 | 0 |
| Alcoa Corporation | ETD Equity Option | 013872906 |  | 6633000 | 100000 | SH | Call | DFND |  | 0 | 100000 | 0 |
| Alphabet Inc. | Class A Common Stock | 02079K305 |  | 24931452 | 86700 | SH |  | DFND |  | 0 | 86700 | 0 |
| Amazon.com Inc. | Common Stock | 023135106 |  | 3124050 | 15000 | SH |  | DFND |  | 0 | 15000 | 0 |
| Ambarella Inc. | Ordinary Shares | G037AX101 |  | 6990305 | 135800 | SH |  | DFND |  | 0 | 135800 | 0 |
| Amneal Pharmaceuticals Inc. | Class A Common Stock | 03168L105 |  | 3977600 | 320000 | SH |  | DFND |  | 0 | 320000 | 0 |
| Amphenol Corporation | Class A Common Stock | 032095101 |  | 2615445 | 20700 | SH |  | DFND |  | 0 | 20700 | 0 |
| Analog Devices Inc. | Common Stock | 032654105 |  | 2067910 | 6500 | SH |  | DFND |  | 0 | 6500 | 0 |
| Apple Inc. | Common Stock | 037833100 |  | 11725098 | 46200 | SH |  | DFND |  | 0 | 46200 | 0 |
| Arcosa Inc. | Common Stock | 039653100 |  | 1921134 | 18100 | SH |  | DFND |  | 0 | 18100 | 0 |
| Argan Inc. | Common Stock | 04010E109 |  | 1633950 | 3000 | SH |  | DFND |  | 0 | 3000 | 0 |
| Arista Networks Inc. | Common Stock | 040413205 |  | 31394846 | 255700 | SH |  | DFND |  | 0 | 255700 | 0 |
| Arista Networks Inc. | ETD Equity Option | 040413905 |  | 3683400 | 30000 | SH | Call | DFND |  | 0 | 30000 | 0 |
| ASML Holding N.V. | Ordinary Shares | N07059900 |  | 7132482 | 5400 | SH |  | DFND |  | 0 | 5400 | 0 |
| Astera Labs Inc. | Common Stock | 04626A103 |  | 11135360 | 101600 | SH |  | DFND |  | 0 | 101600 | 0 |
| ATI Inc. | Common Stock | 01741R102 |  | 3971058 | 27300 | SH |  | DFND |  | 0 | 27300 | 0 |
| Autodesk Inc. | Common Stock | 052769106 |  | 9671760 | 40400 | SH |  | DFND |  | 0 | 40400 | 0 |
| AutoZone Inc. | Common Stock | 053332102 |  | 5404448 | 1600 | SH |  | DFND |  | 0 | 1600 | 0 |
| Baker Hughes Company | Class A Common Stock | 05722G100 |  | 1080585 | 17700 | SH |  | DFND |  | 0 | 17700 | 0 |
| Ballard Power Systems Inc. | Common Shares | 058586108 |  | 72600 | 30000 | SH |  | DFND |  | 0 | 30000 | 0 |
| Barrick Mining Corporation | Common Shares | 06849F108 |  | 1819234 | 44600 | SH |  | DFND |  | 0 | 44600 | 0 |
| BellRing Brands Inc. | Common Stock | 07831C103 |  | 3691046 | 229400 | SH |  | DFND |  | 0 | 229400 | 0 |
| Berkshire Hathaway Inc. | Class B Common Stock | 084670702 |  | 3881520 | 8100 | SH |  | DFND |  | 0 | 8100 | 0 |
| Boston Scientific Corporation | Common Stock | 101137107 |  | 470625 | 7500 | SH |  | DFND |  | 0 | 7500 | 0 |
| Broadcom Inc. | Common Stock | 11135F101 |  | 14299362 | 46200 | SH |  | DFND |  | 0 | 46200 | 0 |
| BWX Technologies Inc. | Common Stock | 05605H100 |  | 879307 | 4300 | SH |  | DFND |  | 0 | 4300 | 0 |
| Cadence Design Systems Inc. | Common Shares | 127387108 |  | 12587511 | 45300 | SH |  | DFND |  | 0 | 45300 | 0 |
| Celsius Holdings Inc. | Common Stock | 15118V207 |  | 3210940 | 90500 | SH |  | DFND |  | 0 | 90500 | 0 |
| Celsius Holdings Inc. | ETD Equity Option | 15118V907 |  | 80000 | 80000 | SH | Call | DFND |  | 0 | 80000 | 0 |
| Cheniere Energy Inc. | Common Stock | 16411R208 |  | 1702560 | 6000 | SH |  | DFND |  | 0 | 6000 | 0 |
| Cheniere Energy Inc. | ETD Equity Option | 16411R908 |  | 1702560 | 6000 | SH | Call | DFND |  | 0 | 6000 | 0 |
| Common Stock | Common Stock | 166764100 |  | 5627680 | 27200 | SH |  | DFND |  | 0 | 27200 | 0 |
| C.H. Robinson Worldwide Inc. | Common Stock | 12541W209 |  | 10163484 | 61200 | SH |  | DFND |  | 0 | 61200 | 0 |
| C.H. Robinson Worldwide Inc. | ETD Equity Option | 12541W909 |  | 9964200 | 60000 | SH | Call | DFND |  | 0 | 60000 | 0 |
| Chipotle Mexican Grill Inc. | Common Stock | 169656105 |  | 2240700 | 70000 | SH |  | DFND |  | 0 | 70000 | 0 |
| Coherent Corp. | Common Stock | 19247G107 |  | 6812806 | 28600 | SH |  | DFND |  | 0 | 28600 | 0 |
| Constellation Energy Corporation | Common Stock | 21037T109 |  | 3853650 | 13800 | SH |  | DFND |  | 0 | 13800 | 0 |
| Corning Incorporated | Common Stock | 219350105 |  | 2189117 | 16100 | SH |  | DFND |  | 0 | 16100 | 0 |
| Credicorp Ltd. | Common Shares | G2519Y108 |  | 3074328 | 9064 | SH |  | DFND |  | 0 | 9064 | 0 |
| Curtiss-Wright Corporation | Common Stock | 231561101 |  | 2383920 | 3500 | SH |  | DFND |  | 0 | 3500 | 0 |
| Datadog Inc. | Class A Common Stock | 23804L103 |  | 3423450 | 29000 | SH |  | DFND |  | 0 | 29000 | 0 |
| e.l.f. Beauty Inc. | Common Stock | 26856L103 |  | 4788190 | 79000 | SH |  | DFND |  | 0 | 79000 | 0 |
| e.l.f. Beauty Inc. | ETD Equity Option | 26856L903 |  | 2727450 | 45000 | SH | Call | DFND |  | 0 | 45000 | 0 |
| Ecolab Inc. | Common Stock | 278865100 |  | 4442534 | 16700 | SH |  | DFND |  | 0 | 16700 | 0 |
| EMCOR Group Inc. | Common Stock | 29084Q100 |  | 1624282 | 2200 | SH |  | DFND |  | 0 | 2200 | 0 |
| Equinix Inc. | Common Stock | 29444U700 |  | 784192 | 800 | SH |  | DFND |  | 0 | 800 | 0 |
| ESCO Technologies Inc. | Common Stock | 296315104 |  | 3798495 | 13500 | SH |  | DFND |  | 0 | 13500 | 0 |
| Fabrinet | Ordinary Shares | G3323L100 |  | 12568632 | 24100 | SH |  | DFND |  | 0 | 24100 | 0 |
| Fastenal Company | Common Stock | 311900104 |  | 3976480 | 85700 | SH |  | DFND |  | 0 | 85700 | 0 |
| FedEx Corporation | Common Stock | 31428X106 |  | 2457642 | 6900 | SH |  | DFND |  | 0 | 6900 | 0 |
| First Citizens BancShares Inc. | Class A Common Stock | 31946M103 |  | 1507728 | 800 | SH |  | DFND |  | 0 | 800 | 0 |
| Fiserv Inc. | ETD Equity Option | 337738908 |  | 2232000 | 40000 | SH | Call | DFND |  | 0 | 40000 | 0 |
| Flowserve Corporation | Common Stock | 34354P105 |  | 1676028 | 22800 | SH |  | DFND |  | 0 | 22800 | 0 |
| Freeport-McMoRan Inc. | Common Stock | 35671D857 |  | 1763400 | 30000 | SH |  | DFND |  | 0 | 30000 | 0 |
| FTAI Aviation Ltd. | Ordinary shares | G3730V105 |  | 6664000 | 27200 | SH |  | DFND |  | 0 | 27200 | 0 |
| GE Vernova Inc. | Common Stock | 36828A101 |  | 11871440 | 13600 | SH |  | DFND |  | 0 | 13600 | 0 |
| GitLab Inc. | ETD Equity Option | 37637K908 |  | 7790400 | 360000 | SH | Call | DFND |  | 0 | 360000 | 0 |
| Global X Uranium | Exchange Traded Products | 37954Y871 |  | 3390100 | 70000 | SH |  | DFND |  | 0 | 70000 | 0 |
| Golar LNG Limited | Common Shares | G9456A100 |  | 1017268 | 18800 | SH |  | DFND |  | 0 | 18800 | 0 |
| Hewlett Packard Enterprise Company | Common Stock | 42824C109 |  | 4688189 | 196900 | SH |  | DFND |  | 0 | 196900 | 0 |
| Howmet Aerospace Inc. | Common Stock | 443201108 |  | 4217418 | 18300 | SH |  | DFND |  | 0 | 18300 | 0 |
| HubSpot Inc. | Common Stock | 443573100 |  | 5126100 | 21000 | SH |  | DFND |  | 0 | 21000 | 0 |
| HubSpot Inc. | ETD Equity Option | 443573900 |  | 6834800 | 28000 | SH | Call | DFND |  | 0 | 28000 | 0 |
| Intuit Inc. | Common Stock | 461202103 |  | 475618 | 1100 | SH |  | DFND |  | 0 | 1100 | 0 |
| Intuitive Surgical Inc. | Common Stock | 46120E602 |  | 2074455 | 4500 | SH |  | DFND |  | 0 | 4500 | 0 |
| IQVIA Holdings Inc. | Common Stock | 46266C105 |  | 13762578 | 80700 | SH |  | DFND |  | 0 | 80700 | 0 |
| Jabil Inc. | Common Stock | 466313103 |  | 4807903 | 18100 | SH |  | DFND |  | 0 | 18100 | 0 |
| Jabil Inc. | ETD Equity Option | 466313903 |  | 5312600 | 20000 | SH | Call | DFND |  | 0 | 20000 | 0 |
| JPMorgan Chase  Co | Common Stock | 46625H100 |  | 3971160 | 13500 | SH |  | DFND |  | 0 | 13500 | 0 |
| Common Stock | Common Stock | 485924104 |  | 2177360 | 27200 | SH |  | DFND |  | 0 | 27200 | 0 |
| Kratos Defense  Security Solutions Inc. | Common Stock | 50077B207 |  | 1896719 | 26900 | SH |  | DFND |  | 0 | 26900 | 0 |
| L3Harris Technologies Inc. | Common Stock | 502431109 |  | 4383405 | 12700 | SH |  | DFND |  | 0 | 12700 | 0 |
| L3Harris Technologies Inc. | ETD Equity Option | 502431909 |  | 5177250 | 15000 | SH | Call | DFND |  | 0 | 15000 | 0 |
| Leidos Inc. | Common Stock | 525327102 |  | 4603392 | 29600 | SH |  | DFND |  | 0 | 29600 | 0 |
| Lennar Corporation | Class A Common Stock | 526057104 |  | 1181024 | 13600 | SH |  | DFND |  | 0 | 13600 | 0 |
| Live Nation Entertainment Inc | Common Stock | 538034109 |  | 823554 | 5400 | SH |  | DFND |  | 0 | 5400 | 0 |
| Lumentum Holdings Inc. | Common Stock | 55024U109 |  | 8292568 | 11800 | SH |  | DFND |  | 0 | 11800 | 0 |
| MACOM Technology Solutions Holdings Inc. | Common Stock | 55405Y100 |  | 11481019 | 51700 | SH |  | DFND |  | 0 | 51700 | 0 |
| Marvell Technology Inc. | Common Stock | 573874104 |  | 455630 | 4600 | SH |  | DFND |  | 0 | 4600 | 0 |
| MasTec Inc. | Common Stock | 576323109 |  | 3217400 | 10000 | SH |  | DFND |  | 0 | 10000 | 0 |
| MercadoLibre Inc. | Common Stock | 58733R102 |  | 864510 | 500 | SH |  | DFND |  | 0 | 500 | 0 |
| Mercury Systems Inc. | Common Stock | 589378108 |  | 2311247 | 31700 | SH |  | DFND |  | 0 | 31700 | 0 |
| Meta Platforms Inc. | Class A Common Stock | 30303M102 |  | 6121791 | 10700 | SH |  | DFND |  | 0 | 10700 | 0 |
| MetLife Inc. | Common Stock | 59156R108 |  | 707200 | 10000 | SH |  | DFND |  | 0 | 10000 | 0 |
| Microsoft Corporation | Common Stock | 594918104 |  | 8736012 | 23600 | SH |  | DFND |  | 0 | 23600 | 0 |
| Moelis  Company | Class A Common Stock | 60786M105 |  | 3613800 | 63400 | SH |  | DFND |  | 0 | 63400 | 0 |
| MOOG Inc. | Class A Common Stock | 615394202 |  | 1844803 | 6304 | SH |  | DFND |  | 0 | 6304 | 0 |
| Motorola Solutions Inc. | Common Stock | 620076307 |  | 2950996 | 6800 | SH |  | DFND |  | 0 | 6800 | 0 |
| Mueller Industries Inc. | Common Stock | 624756102 |  | 1662000 | 15000 | SH |  | DFND |  | 0 | 15000 | 0 |
| NVIDIA Corporation | Common Stock | 67066G104 |  | 32891840 | 188600 | SH |  | DFND |  | 0 | 188600 | 0 |
| Pan American Silver Corp. | Common Stock | 697900108 |  | 617319 | 11300 | SH |  | DFND |  | 0 | 11300 | 0 |
| Quanta Services Inc. | Common Stock | 74762E102 |  | 1043138 | 1900 | SH |  | DFND |  | 0 | 1900 | 0 |
| Royal Caribbean Cruises Ltd. | Common Stock | V7780T103 |  | 825540 | 3000 | SH |  | DFND |  | 0 | 3000 | 0 |
| RTX Corporation | Common Stock | 75513E101 |  | 3298590 | 17100 | SH |  | DFND |  | 0 | 17100 | 0 |
| Sempra | Common Stock | 816851909 |  | 6763032 | 69600 | SH |  | DFND |  | 0 | 69600 | 0 |
| ServiceNow Inc. | Common Stock | 81762P102 |  | 982770 | 9400 | SH |  | DFND |  | 0 | 9400 | 0 |
| Spotify Technology S.A. | Common Stock | L8681T102 |  | 678874 | 1400 | SH |  | DFND |  | 0 | 1400 | 0 |
| Sprott Uranium Miners ETF | Exchange Traded Products | 85208P303 |  | 947250 | 15000 | SH |  | DFND |  | 0 | 15000 | 0 |
| SPX Technologies Inc. | Common Stock | 78473E103 |  | 1439568 | 7200 | SH |  | DFND |  | 0 | 7200 | 0 |
| Strategy Inc | Class A Common Stock | 594972408 |  | 3394560 | 27200 | SH |  | DFND |  | 0 | 27200 | 0 |
| Super Micro Computer Inc. | ETD Equity Option | 86800U902 |  | 2960100 | 130000 | SH | Call | DFND |  | 0 | 130000 | 0 |
| Symbotic Inc. | Class A Common Stock | 87151X101 |  | 1606640 | 30200 | SH |  | DFND |  | 0 | 30200 | 0 |
| Take-Two Interactive Software Inc. | Common Stock | 874054109 |  | 1481250 | 7500 | SH |  | DFND |  | 0 | 7500 | 0 |
| Take-Two Interactive Software Inc. | ETD Equity Option | 874054909 |  | 18762500 | 95000 | SH | Call | DFND |  | 0 | 95000 | 0 |
| Tapestry Inc. | Common Stock | 876030107 |  | 2003762 | 14200 | SH |  | DFND |  | 0 | 14200 | 0 |
| Tapestry Inc. | ETD Equity Option | 876030907 |  | 6349950 | 45000 | SH | Call | DFND |  | 0 | 45000 | 0 |
| Targa Resources Corp. | Common Stock | 87612G101 |  | 2081059 | 8300 | SH |  | DFND |  | 0 | 8300 | 0 |
| Targa Resources Corp. | ETD Equity Option | 87612G901 |  | 15043800 | 60000 | SH | Call | DFND |  | 0 | 60000 | 0 |
| TeraWulf Inc. | Common Stock | 88080T104 |  | 3269838 | 226600 | SH |  | DFND |  | 0 | 226600 | 0 |
| Tesla Inc. | Common Stock | 88160R101 |  | 11858825 | 31900 | SH |  | DFND |  | 0 | 31900 | 0 |
| The Boeing Company | Common Stock | 097023105 |  | 1253889 | 6300 | SH |  | DFND |  | 0 | 6300 | 0 |
| The Trade Desk Inc. | ETD Equity Option | 88339J905 |  | 10210500 | 450000 | SH | Call | DFND |  | 0 | 450000 | 0 |
| The Williams Companies Inc. | Common Stock | 969457100 |  | 2736528 | 37600 | SH |  | DFND |  | 0 | 37600 | 0 |
| T-Mobile US Inc. | Common Stock | 872590104 |  | 567081 | 2700 | SH |  | DFND |  | 0 | 2700 | 0 |
| Toast Inc. | Class A Common Stock | 888787108 |  | 734327 | 27700 | SH |  | DFND |  | 0 | 27700 | 0 |
| Toast Inc. | ETD Equity Option | 888787908 |  | 19882500 | 750000 | SH | Call | DFND |  | 0 | 750000 | 0 |
| Trane Technologies plc | Ordinary Shares | G8994E103 |  | 666784 | 1600 | SH |  | DFND |  | 0 | 1600 | 0 |
| Trimble Inc. | Common Stock | 896239100 |  | 4135582 | 63400 | SH |  | DFND |  | 0 | 63400 | 0 |
| Truist Financial Corporation | Common Stock | 89832Q109 |  | 6886306 | 149800 | SH |  | DFND |  | 0 | 149800 | 0 |
| UL Solutions Inc. | Class A Common Stock | 903731107 |  | 1688487 | 19700 | SH |  | DFND |  | 0 | 19700 | 0 |
| VanEck Gold Miners ETF | Exchange Traded Products | 92189F106 |  | 5506200 | 60000 | SH |  | DFND |  | 0 | 60000 | 0 |
| VanEck Junior Gold Miners ETF | Exchange Traded Products | 92189F791 |  | 4801600 | 40000 | SH |  | DFND |  | 0 | 40000 | 0 |
| Vaneck Rare Earth/Strategic Metals ETF | Exchange Traded Products | 92189H805 |  | 2631112 | 29899 | SH |  | DFND |  | 0 | 29899 | 0 |
| Vertex Pharmaceuticals Incorporated | Common Stock | 92532F100 |  | 2902510 | 6500 | SH |  | DFND |  | 0 | 6500 | 0 |
| Viking Holdings Ltd | Common Stock | G93A5A101 |  | 1160984 | 15800 | SH |  | DFND |  | 0 | 15800 | 0 |
| Visa Inc. | Class A Common Stock | 92826C839 |  | 241792 | 800 | SH |  | DFND |  | 0 | 800 | 0 |
| Vistra Corp. | Common Stock | 92840M102 |  | 7937424 | 52800 | SH |  | DFND |  | 0 | 52800 | 0 |
| Walmart Inc. | Common Stock | 931142103 |  | 1826916 | 14700 | SH |  | DFND |  | 0 | 14700 | 0 |
| Waters Corporation | Common Stock | 941848103 |  | 11227060 | 37700 | SH |  | DFND |  | 0 | 37700 | 0 |
| Watsco Inc. | Common stock | 942622200 |  | 400169 | 1100 | SH |  | DFND |  | 0 | 1100 | 0 |
| Wells Fargo  Company | Common Stock | 949746101 |  | 3741670 | 47000 | SH |  | DFND |  | 0 | 47000 | 0 |
| Wheaton Precious Metals Corp. | Common Stock | 962879102 |  | 10677315 | 81500 | SH |  | DFND |  | 0 | 81500 | 0 |

---