# EDGAR Filing Document

**Accession Number:** 0001557017
**File Stem:** 0001172661-25-003192
**Filing Date:** 2025-8
**Character Count:** 72729
**Document Hash:** 725cacd933189bb74bb52548ffb55af6
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001172661-25-003192.hdr.sgml**: 20250813

**ACCESSION NUMBER**: 0001172661-25-003192

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

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250813

**DATE AS OF CHANGE**: 20250813

**EFFECTIVENESS DATE**: 20250813

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Capula Management Ltd
- **CENTRAL INDEX KEY:** 0001557017

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** E9

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-17203
- **FILM NUMBER:** 251212683

**BUSINESS ADDRESS:**
- **STREET 1:** PO BOX 309
- **STREET 2:** UGLAND HOUSE
- **CITY:** GRAND CAYMAN
- **STATE:** E9
- **ZIP:** KY1-1104
- **BUSINESS PHONE:** 345-949-8066

**MAIL ADDRESS:**
- **STREET 1:** PO BOX 309
- **STREET 2:** UGLAND HOUSE
- **CITY:** GRAND CAYMAN
- **STATE:** E9
- **ZIP:** KY1-1104

### 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:** Capula Management Ltd<br>**Address:** PO Box 309<br>Ugland House<br>Grand Cayman, E9 KY1-1104

**Form 13F File Number:** 028-17203

**CRD Number (if applicable):** 000163729

**SEC File Number (if applicable):** 802-113693

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:** Henning Bruder<br>**Title:** Director<br>**Phone:** 3459498066

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

/s/ Henning Bruder  Potsdam, 2M  08-13-2025<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:** 3

**Form 13F Information Table Entry Total:** 715

**Form 13F Information Table Value Total:** $10763814207

      (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   |
|:---|:---|:---|
|  | Capula Investment US LP               | 028-17204              |
|  | Capula Investment Management LLP      | 028-17757              |
|  | CAPULA INVESTMENT MANAGEMENT ASIA Ltd | 028-25019              |

### 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 |
| AMERICAN INTL GROUP INC | COM NEW | 026874784 |  | 29529 | 345 | SH |  | DFND | 1 | 345 | 0 | 0 |
| ABBOTT LABS | COM | 002824100 |  | 32234 | 237 | SH |  | DFND | 2 | 237 | 0 | 0 |
| AMERICAN ELEC PWR CO INC | COM | 025537101 |  | 103760 | 1000 | SH | Put | DFND | 1 | 1000 | 0 | 0 |
| ABBVIE INC | COM | 00287Y109 |  | 26172 | 141 | SH |  | DFND | 2 | 141 | 0 | 0 |
| ALBEMARLE CORP | COM | 012653101 |  | 219658 | 3505 | SH |  | DFND | 2 | 3505 | 0 | 0 |
| AUTODESK INC | COM | 052769106 |  | 92871 | 300 | SH | Call | DFND | 1 | 300 | 0 | 0 |
| APPLIED MATLS INC | COM | 038222105 |  | 45035 | 246 | SH |  | DFND | 1 | 246 | 0 | 0 |
| AIRBNB INC | COM CL A | 009066101 |  | 16543 | 125 | SH |  | DFND | 1 | 125 | 0 | 0 |
| ABBVIE INC | COM | 00287Y109 |  | 131605 | 709 | SH |  | DFND | 1 | 709 | 0 | 0 |
| AUTODESK INC | COM | 052769106 |  | 154785 | 500 | SH | Put | DFND | 1 | 500 | 0 | 0 |
| AMERICAN ELEC PWR CO INC | COM | 025537101 |  | 46277 | 446 | SH |  | DFND | 1 | 446 | 0 | 0 |
| AIRBNB INC | COM CL A | 009066101 |  | 132340 | 1000 | SH | Put | DFND | 1 | 1000 | 0 | 0 |
| AUTOMATIC DATA PROCESSING IN | COM | 053015103 |  | 49652 | 161 | SH |  | DFND | 1 | 161 | 0 | 0 |
| AMERICAN ELEC PWR CO INC | COM | 025537101 |  | 29572 | 285 | SH |  | DFND | 2 | 285 | 0 | 0 |
| ACCENTURE PLC IRELAND | SHS CLASS A | G1151C101 |  | 101324 | 339 | SH |  | DFND | 1 | 339 | 0 | 0 |
| APPLIED MATLS INC | COM | 038222105 |  | 30207 | 165 | SH |  | DFND | 2 | 165 | 0 | 0 |
| ADT INC DEL | COM | 00090Q103 |  | 329983 | 38959 | SH |  | DFND | 2 | 38959 | 0 | 0 |
| AUTOMATIC DATA PROCESSING IN | COM | 053015103 |  | 154200 | 500 | SH | Call | DFND | 1 | 500 | 0 | 0 |
| ARDAGH METAL PACKAGING S A | SHS | L02235106 |  | 45051 | 10526 | SH |  | DFND | 2 | 10526 | 0 | 0 |
| ADOBE INC | COM | 00724F101 |  | 87048 | 225 | SH |  | DFND | 1 | 225 | 0 | 0 |
| ALPS ETF TR | ALERIAN MLP | 00162Q452 |  | 1433797 | 29345 | SH |  | DFND | 2 | 29345 | 0 | 0 |
| APOLLO GLOBAL MGMT INC | COM | 03769M106 |  | 36602 | 258 | SH |  | DFND | 1 | 258 | 0 | 0 |
| BANK AMERICA CORP | COM | 060505104 |  | 264566 | 5591 | SH |  | DFND | 1 | 5591 | 0 | 0 |
| AMGEN INC | COM | 031162100 |  | 186512 | 668 | SH |  | DFND | 1 | 668 | 0 | 0 |
| APA CORPORATION | COM | 03743Q108 |  | 405672 | 22180 | SH |  | DFND | 1 | 22180 | 0 | 0 |
| AIR PRODS  CHEMS INC | COM | 009158106 |  | 141030 | 500 | SH | Put | DFND | 1 | 500 | 0 | 0 |
| APOLLO GLOBAL MGMT INC | COM | 03769M106 |  | 85122 | 600 | SH | Call | DFND | 1 | 600 | 0 | 0 |
| ASML HOLDING N V | N Y REGISTRY SHS | N07059210 |  | 626687 | 782 | SH |  | DFND | 1 | 782 | 0 | 0 |
| BUMBLE INC | COM CL A | 12047B105 |  | 65900 | 10000 | SH | Put | DFND | 1 | 10000 | 0 | 0 |
| SMITH A O CORP | COM | 831865209 |  | 219528 | 3348 | SH |  | DFND | 2 | 3348 | 0 | 0 |
| BOOKING HOLDINGS INC | COM | 09857L108 |  | 1157848 | 200 | SH | Call | DFND | 1 | 200 | 0 | 0 |
| BOOKING HOLDINGS INC | COM | 09857L108 |  | 578924 | 100 | SH | Put | DFND | 1 | 100 | 0 | 0 |
| AMERICAN TOWER CORP NEW | COM | 03027X100 |  | 19229 | 87 | SH |  | DFND | 1 | 87 | 0 | 0 |
| APA CORPORATION | COM | 03743Q108 |  | 49182 | 2689 | SH |  | DFND | 2 | 2689 | 0 | 0 |
| APOLLO GLOBAL MGMT INC | COM | 03769M106 |  | 156057 | 1100 | SH | Put | DFND | 1 | 1100 | 0 | 0 |
| FRANKLIN RESOURCES INC | COM | 354613101 |  | 259870 | 10896 | SH |  | DFND | 2 | 10896 | 0 | 0 |
| BROOKFIELD BUSINESS CORP | CL A EXC SUB VTG | 11259V106 |  | 1043945 | 24500 | SH |  | DFND | 2 | 24500 | 0 | 0 |
| AIR PRODS  CHEMS INC | COM | 009158106 |  | 45694 | 162 | SH |  | DFND | 1 | 162 | 0 | 0 |
| ARES MANAGEMENT CORPORATION | CL A COM STK | 03990B101 |  | 753420 | 4350 | SH |  | DFND | 2 | 4350 | 0 | 0 |
| DBX ETF TR | XTRACK HRVST CSI | 233051879 |  | 536369 | 19476 | SH |  | DFND | 2 | 19476 | 0 | 0 |
| BRIGHT HORIZONS FAM SOL IN D | COM | 109194100 |  | 652308 | 5278 | SH |  | DFND | 2 | 5278 | 0 | 0 |
| APPLOVIN CORP | COM CL A | 03831W108 |  | 7243155 | 20690 | SH |  | DFND | 2 | 20690 | 0 | 0 |
| ASML HOLDING N V | N Y REGISTRY SHS | N07059210 |  | 5609730 | 7000 | SH | Put | DFND | 1 | 7000 | 0 | 0 |
| ASE TECHNOLOGY HLDG CO LTD | SPONSORED ADS | 00215W100 |  | 743233 | 71949 | SH |  | DFND | 3 | 71949 | 0 | 0 |
| BLACKROCK INC | COM | 09290D101 |  | 20985 | 20 | SH |  | DFND | 2 | 20 | 0 | 0 |
| BUMBLE INC | COM CL A | 12047B105 |  | 65900 | 10000 | SH | Call | DFND | 1 | 10000 | 0 | 0 |
| APPLOVIN CORP | COM CL A | 03831W108 |  | 595136 | 1700 | SH |  | DFND | 3 | 1700 | 0 | 0 |
| ASE TECHNOLOGY HLDG CO LTD | SPONSORED ADS | 00215W100 |  | 1493511 | 144580 | SH |  | DFND | 2 | 144580 | 0 | 0 |
| ARISTA NETWORKS INC | COM SHS | 040413205 |  | 409 | 4 | SH |  | DFND | 1 | 4 | 0 | 0 |
| ARES MANAGEMENT CORPORATION | CL A COM STK | 03990B101 |  | 606200 | 3500 | SH |  | DFND | 3 | 3500 | 0 | 0 |
| BAIDU INC | SPON ADR REP A | 056752108 |  | 2329070 | 27158 | SH |  | DFND | 1 | 27158 | 0 | 0 |
| COLGATE PALMOLIVE CO | COM | 194162103 |  | 154530 | 1700 | SH | Put | DFND | 1 | 1700 | 0 | 0 |
| BLACKSTONE INC | COM | 09260D107 |  | 149580 | 1000 | SH | Call | DFND | 1 | 1000 | 0 | 0 |
| COEUR MNG INC | COM NEW | 192108504 |  | 282980 | 31939 | SH |  | DFND | 2 | 31939 | 0 | 0 |
| CME GROUP INC | COM | 12572Q105 |  | 192934 | 700 | SH | Put | DFND | 1 | 700 | 0 | 0 |
| CADENCE DESIGN SYSTEM INC | COM | 127387108 |  | 4622 | 15 | SH |  | DFND | 1 | 15 | 0 | 0 |
| BLACKSTONE INC | COM | 09260D107 |  | 83316 | 557 | SH |  | DFND | 1 | 557 | 0 | 0 |
| CARNIVAL CORP | UNIT 99/99/9999 | 143658300 |  | 2812000 | 100000 | SH | Put | DFND | 1 | 100000 | 0 | 0 |
| CME GROUP INC | COM | 12572Q105 |  | 31421 | 114 | SH |  | DFND | 2 | 114 | 0 | 0 |
| BRIDGE INVT GROUP HLDGS INC | COM CL A | 10806B100 |  | 7352585 | 734524 | SH |  | DFND | 2 | 734524 | 0 | 0 |
| BLUEPRINT MEDICINES CORP | COM | 09627Y109 |  | 20010693 | 156114 | SH |  | DFND | 2 | 156114 | 0 | 0 |
| CARNIVAL CORP | UNIT 99/99/9999 | 143658300 |  | 2812000 | 100000 | SH | Call | DFND | 1 | 100000 | 0 | 0 |
| CME GROUP INC | COM | 12572Q105 |  | 23703 | 86 | SH |  | DFND | 1 | 86 | 0 | 0 |
| CME GROUP INC | COM | 12572Q105 |  | 110248 | 400 | SH | Call | DFND | 1 | 400 | 0 | 0 |
| BOSTON SCIENTIFIC CORP | COM | 101137107 |  | 30182 | 281 | SH |  | DFND | 1 | 281 | 0 | 0 |
| CADENCE DESIGN SYSTEM INC | COM | 127387108 |  | 215705 | 700 | SH | Put | DFND | 1 | 700 | 0 | 0 |
| BRISTOL-MYERS SQUIBB CO | COM | 110122108 |  | 154099 | 3329 | SH |  | DFND | 1 | 3329 | 0 | 0 |
| COLGATE PALMOLIVE CO | COM | 194162103 |  | 57903 | 637 | SH |  | DFND | 1 | 637 | 0 | 0 |
| CHUBB LIMITED | COM | H1467J104 |  | 74168 | 256 | SH |  | DFND | 1 | 256 | 0 | 0 |
| CHUBB LIMITED | COM | H1467J104 |  | 30421 | 105 | SH |  | DFND | 2 | 105 | 0 | 0 |
| BRISTOL-MYERS SQUIBB CO | COM | 110122108 |  | 62630 | 1353 | SH |  | DFND | 2 | 1353 | 0 | 0 |
| CONSTELLATION ENERGY CORP | COM | 21037T109 |  | 225932 | 700 | SH | Put | DFND | 1 | 700 | 0 | 0 |
| CENTERRA GOLD INC | COM | 152006102 |  | 186390 | 19000 | SH |  | DFND | 2 | 19000 | 0 | 0 |
| COLGATE PALMOLIVE CO | COM | 194162103 |  | 29997 | 330 | SH |  | DFND | 2 | 330 | 0 | 0 |
| CISCO SYS INC | COM | 17275R102 |  | 326086 | 4700 | SH | Call | DFND | 1 | 4700 | 0 | 0 |
| CSX CORP | COM | 126408103 |  | 146835 | 4500 | SH | Put | DFND | 1 | 4500 | 0 | 0 |
| CONOCOPHILLIPS | COM | 20825C104 |  | 156058 | 1739 | SH |  | DFND | 1 | 1739 | 0 | 0 |
| CARVANA CO | CL A | 146869102 |  | 673920 | 2000 | SH |  | DFND | 3 | 2000 | 0 | 0 |
| CRH PLC | ORD | G25508105 |  | 5569781 | 60673 | SH |  | DFND | 2 | 60673 | 0 | 0 |
| CHEVRON CORP NEW | COM | 166764100 |  | 40093 | 280 | SH |  | DFND | 2 | 280 | 0 | 0 |
| COSTCO WHSL CORP NEW | COM | 22160K105 |  | 220757 | 223 | SH |  | DFND | 1 | 223 | 0 | 0 |
| CARVANA CO | CL A | 146869102 |  | 1684800 | 5000 | SH | Put | DFND | 1 | 5000 | 0 | 0 |
| CROWDSTRIKE HLDGS INC | CL A | 22788C105 |  | 254655 | 500 | SH | Put | DFND | 1 | 500 | 0 | 0 |
| CHIPOTLE MEXICAN GRILL INC | COM | 169656105 |  | 196525 | 3500 | SH | Put | DFND | 1 | 3500 | 0 | 0 |
| CARVANA CO | CL A | 146869102 |  | 114903 | 341 | SH |  | DFND | 1 | 341 | 0 | 0 |
| SALESFORCE INC | COM | 79466L302 |  | 212426 | 779 | SH |  | DFND | 1 | 779 | 0 | 0 |
| CAPITAL ONE FINL CORP | COM | 14040H105 |  | 170208 | 800 | SH | Put | DFND | 1 | 800 | 0 | 0 |
| CAPITAL ONE FINL CORP | COM | 14040H105 |  | 85104 | 400 | SH | Call | DFND | 1 | 400 | 0 | 0 |
| CHIPOTLE MEXICAN GRILL INC | COM | 169656105 |  | 6850 | 122 | SH |  | DFND | 1 | 122 | 0 | 0 |
| GLOBAL X FDS | GLOBAL X COPPER | 37954Y830 |  | 2068830 | 45974 | SH |  | DFND | 2 | 45974 | 0 | 0 |
| CISCO SYS INC | COM | 17275R102 |  | 22618 | 326 | SH |  | DFND | 2 | 326 | 0 | 0 |
| CINTAS CORP | COM | 172908105 |  | 133722 | 600 | SH | Put | DFND | 1 | 600 | 0 | 0 |
| CVS HEALTH CORP | COM | 126650100 |  | 45665 | 662 | SH |  | DFND | 2 | 662 | 0 | 0 |
| CLEARWATER ANALYTICS HLDGS I | CL A | 185123106 |  | 671979 | 30642 | SH |  | DFND | 2 | 30642 | 0 | 0 |
| CASELLA WASTE SYS INC | CL A | 147448104 |  | 257297 | 2230 | SH |  | DFND | 2 | 2230 | 0 | 0 |
| CINTAS CORP | COM | 172908105 |  | 7132 | 32 | SH |  | DFND | 1 | 32 | 0 | 0 |
| EOG RES INC | COM | 26875P101 |  | 51193 | 428 | SH |  | DFND | 1 | 428 | 0 | 0 |
| DIGITAL RLTY TR INC | COM | 253868103 |  | 139464 | 800 | SH | Put | DFND | 1 | 800 | 0 | 0 |
| ECOLAB INC | COM | 278865100 |  | 80832 | 300 | SH | Call | DFND | 1 | 300 | 0 | 0 |
| DOMINION ENERGY INC | COM | 25746U109 |  | 39564 | 700 | SH | Call | DFND | 1 | 700 | 0 | 0 |
| DOMINION ENERGY INC | COM | 25746U109 |  | 42051 | 744 | SH |  | DFND | 2 | 744 | 0 | 0 |
| EOG RES INC | COM | 26875P101 |  | 131571 | 1100 | SH | Put | DFND | 1 | 1100 | 0 | 0 |
| ISHARES TR | JPMORGAN USD EMG | 464288281 |  | 10065664 | 108677 | SH |  | DFND | 2 | 108677 | 0 | 0 |
| ISHARES TR | MSCI EMG MKT ETF | 464287234 |  | 4319361 | 89539 | SH |  | DFND | 3 | 89539 | 0 | 0 |
| ECOLAB INC | COM | 278865100 |  | 134720 | 500 | SH | Put | DFND | 1 | 500 | 0 | 0 |
| DIGITAL RLTY TR INC | COM | 253868103 |  | 69732 | 400 | SH | Call | DFND | 1 | 400 | 0 | 0 |
| DOMINION ENERGY INC | COM | 25746U109 |  | 31651 | 560 | SH |  | DFND | 1 | 560 | 0 | 0 |
| FEDEX CORP | COM | 31428X106 |  | 68193 | 300 | SH | Call | DFND | 1 | 300 | 0 | 0 |
| ELEVANCE HEALTH INC | COM | 036752103 |  | 26838 | 69 | SH |  | DFND | 2 | 69 | 0 | 0 |
| EMERSON ELEC CO | COM | 291011104 |  | 186662 | 1400 | SH | Put | DFND | 1 | 1400 | 0 | 0 |
| EQUINIX INC | COM | 29444U700 |  | 159094 | 200 | SH | Put | DFND | 1 | 200 | 0 | 0 |
| FIDELITY WISE ORIGIN BITCOIN | SHS | 315948109 |  | 140719384 | 1497174 | SH |  | DFND | 2 | 1497174 | 0 | 0 |
| ISHARES TR | SELECT DIVID ETF | 464287168 |  | 5751071 | 43303 | SH |  | DFND | 2 | 43303 | 0 | 0 |
| DEERE  CO | COM | 244199105 |  | 35086 | 69 | SH |  | DFND | 1 | 69 | 0 | 0 |
| LAUDER ESTEE COS INC | CL A | 518439104 |  | 730674 | 9043 | SH |  | DFND | 1 | 9043 | 0 | 0 |
| ELEVANCE HEALTH INC | COM | 036752103 |  | 155584 | 400 | SH | Put | DFND | 1 | 400 | 0 | 0 |
| DUKE ENERGY CORP NEW | COM NEW | 26441C204 |  | 29736 | 252 | SH |  | DFND | 2 | 252 | 0 | 0 |
| ISHARES TR | MSCI EMG MKT ETF | 464287234 |  | 6250023 | 129561 | SH |  | DFND | 2 | 129561 | 0 | 0 |
| DEERE  CO | COM | 244199105 |  | 152547 | 300 | SH | Call | DFND | 1 | 300 | 0 | 0 |
| FEDEX CORP | COM | 31428X106 |  | 113655 | 500 | SH | Put | DFND | 1 | 500 | 0 | 0 |
| DUKE ENERGY CORP NEW | COM NEW | 26441C204 |  | 177000 | 1500 | SH | Put | DFND | 1 | 1500 | 0 | 0 |
| DUKE ENERGY CORP NEW | COM NEW | 26441C204 |  | 75402 | 639 | SH |  | DFND | 1 | 639 | 0 | 0 |
| DOMINION ENERGY INC | COM | 25746U109 |  | 96084 | 1700 | SH | Put | DFND | 1 | 1700 | 0 | 0 |
| ELANCO ANIMAL HEALTH INC | COM | 28414H103 |  | 506197 | 35448 | SH |  | DFND | 2 | 35448 | 0 | 0 |
| EQUINOX GOLD CORP | COM | 29446Y502 |  | 737818 | 93870 | SH |  | DFND | 2 | 93870 | 0 | 0 |
| DANAHER CORPORATION | COM | 235851102 |  | 132549 | 671 | SH |  | DFND | 1 | 671 | 0 | 0 |
| LAUDER ESTEE COS INC | CL A | 518439104 |  | 4848000 | 60000 | SH | Put | DFND | 1 | 60000 | 0 | 0 |
| LAUDER ESTEE COS INC | CL A | 518439104 |  | 30058 | 372 | SH |  | DFND | 2 | 372 | 0 | 0 |
| ECOLAB INC | COM | 278865100 |  | 21555 | 80 | SH |  | DFND | 2 | 80 | 0 | 0 |
| EQUINIX INC | COM | 29444U700 |  | 71592 | 90 | SH |  | DFND | 1 | 90 | 0 | 0 |
| DATADOG INC | CL A COM | 23804L103 |  | 617918 | 4600 | SH |  | DFND | 3 | 4600 | 0 | 0 |
| ENSTAR GROUP LIMITED | SHS | G3075P101 |  | 11993589 | 35657 | SH |  | DFND | 2 | 35657 | 0 | 0 |
| DATADOG INC | CL A COM | 23804L103 |  | 1249269 | 9300 | SH |  | DFND | 1 | 9300 | 0 | 0 |
| EVERGY INC | NOTE 4.500%12/1 | 30034WAD8 |  | 5825750 | 5000 | PRN |  | DFND | 1 | 5000 | 0 | 0 |
| ELEVANCE HEALTH INC | COM | 036752103 |  | 70013 | 180 | SH |  | DFND | 1 | 180 | 0 | 0 |
| ISHARES INC | MSCI BRAZIL ETF | 464286400 |  | 1314695 | 45570 | SH |  | DFND | 1 | 45570 | 0 | 0 |
| DATADOG INC | CL A COM | 23804L103 |  | 1249269 | 9300 | SH | Put | DFND | 1 | 9300 | 0 | 0 |
| GDS HLDGS LTD | SPONSORED ADS | 36165L108 |  | 611400 | 20000 | SH |  | DFND | 3 | 20000 | 0 | 0 |
| VANECK ETF TRUST | GOLD MINERS ETF | 92189F106 |  | 2778755 | 53376 | SH |  | DFND | 2 | 53376 | 0 | 0 |
| FORTUNA MNG CORP | COM NEW | 349942102 |  | 1097712 | 123200 | SH |  | DFND | 2 | 123200 | 0 | 0 |
| FERGUSON ENTERPRISES INC | COMMON STOCK NEW | 31488V107 |  | 587925 | 2700 | SH |  | DFND | 3 | 2700 | 0 | 0 |
| GENERAL DYNAMICS CORP | COM | 369550108 |  | 145830 | 500 | SH | Put | DFND | 1 | 500 | 0 | 0 |
| GE AEROSPACE | COM NEW | 369604301 |  | 283129 | 1100 | SH | Call | DFND | 1 | 1100 | 0 | 0 |
| GENERAL MTRS CO | COM | 37045V100 |  | 31445 | 639 | SH |  | DFND | 1 | 639 | 0 | 0 |
| GENERAL MTRS CO | COM | 37045V100 |  | 127946 | 2600 | SH | Put | DFND | 1 | 2600 | 0 | 0 |
| ISHARES TR | CHINA LG-CAP ETF | 464287184 |  | 2039923 | 55493 | SH |  | DFND | 2 | 55493 | 0 | 0 |
| FLUTTER ENTMT PLC | SHS | G3643J108 |  | 3505704 | 12268 | SH |  | DFND | 2 | 12268 | 0 | 0 |
| FUTU HLDGS LTD | SPON ADS CL A | 36118L106 |  | 339873 | 2750 | SH |  | DFND | 3 | 2750 | 0 | 0 |
| FORTINET INC | COM | 34959E109 |  | 137436 | 1300 | SH | Put | DFND | 1 | 1300 | 0 | 0 |
| FRONTIER COMMUNICATIONS PARE | COM | 35909D109 |  | 20000708 | 549470 | SH |  | DFND | 2 | 549470 | 0 | 0 |
| LIBERTY MEDIA CORP DEL | COM LBTY ONE S A | 531229771 |  | 2685849 | 28284 | SH |  | DFND | 2 | 28284 | 0 | 0 |
| FLUTTER ENTMT PLC | SHS | G3643J108 |  | 628672 | 2200 | SH |  | DFND | 3 | 2200 | 0 | 0 |
| SPDR GOLD TR | GOLD SHS | 78463V107 |  | 45724500 | 150000 | SH | Call | DFND | 1 | 150000 | 0 | 0 |
| FOOT LOCKER INC | COM | 344849104 |  | 2033500 | 83000 | SH |  | DFND | 2 | 83000 | 0 | 0 |
| FORTINET INC | COM | 34959E109 |  | 25056 | 237 | SH |  | DFND | 1 | 237 | 0 | 0 |
| FRANCO NEV CORP | COM | 351858105 |  | 268284 | 1200 | SH |  | DFND | 2 | 1200 | 0 | 0 |
| HOME DEPOT INC | COM | 437076102 |  | 19799 | 54 | SH |  | DFND | 2 | 54 | 0 | 0 |
| INTERCONTINENTAL EXCHANGE IN | COM | 45866F104 |  | 201817 | 1100 | SH | Put | DFND | 1 | 1100 | 0 | 0 |
| INTEL CORP | COM | 458140100 |  | 45114 | 2014 | SH |  | DFND | 1 | 2014 | 0 | 0 |
| ROBINHOOD MKTS INC | COM CL A | 770700102 |  | 2808900 | 30000 | SH | Put | DFND | 1 | 30000 | 0 | 0 |
| ROBINHOOD MKTS INC | COM CL A | 770700102 |  | 664773 | 7100 | SH |  | DFND | 3 | 7100 | 0 | 0 |
| INTEL CORP | COM | 458140100 |  | 2150 | 96 | SH |  | DFND | 2 | 96 | 0 | 0 |
| HILTON WORLDWIDE HLDGS INC | COM | 43300A203 |  | 159804 | 600 | SH | Put | DFND | 1 | 600 | 0 | 0 |
| ROBINHOOD MKTS INC | COM CL A | 770700102 |  | 4337691 | 46328 | SH |  | DFND | 2 | 46328 | 0 | 0 |
| HOST HOTELS  RESORTS INC | COM | 44107P104 |  | 199035 | 12958 | SH |  | DFND | 2 | 12958 | 0 | 0 |
| IAMGOLD CORP | COM | 450913108 |  | 143429 | 14300 | SH |  | DFND | 2 | 14300 | 0 | 0 |
| INTEL CORP | COM | 458140100 |  | 183680 | 8200 | SH | Put | DFND | 1 | 8200 | 0 | 0 |
| HOME DEPOT INC | COM | 437076102 |  | 39230 | 107 | SH |  | DFND | 1 | 107 | 0 | 0 |
| ROBINHOOD MKTS INC | COM CL A | 770700102 |  | 916357 | 9787 | SH |  | DFND | 1 | 9787 | 0 | 0 |
| HEICO CORP NEW | COM | 422806109 |  | 623200 | 1900 | SH |  | DFND | 3 | 1900 | 0 | 0 |
| HDFC BANK LTD | SPONSORED ADS | 40415F101 |  | 35192 | 459 | SH |  | DFND | 2 | 459 | 0 | 0 |
| INTERCONTINENTAL EXCHANGE IN | COM | 45866F104 |  | 21283 | 116 | SH |  | DFND | 2 | 116 | 0 | 0 |
| HDFC BANK LTD | SPONSORED ADS | 40415F101 |  | 392167 | 5115 | SH |  | DFND | 3 | 5115 | 0 | 0 |
| ICICI BANK LIMITED | ADR | 45104G104 |  | 31790 | 945 | SH |  | DFND | 2 | 945 | 0 | 0 |
| INFOSYS LTD | SPONSORED ADR | 456788108 |  | 987519 | 53293 | SH |  | DFND | 3 | 53293 | 0 | 0 |
| ISHARES TR | MSCI INDIA ETF | 46429B598 |  | 3402048 | 61100 | SH |  | DFND | 3 | 61100 | 0 | 0 |
| ISHARES TR | MSCI INDIA ETF | 46429B598 |  | 2270352 | 40775 | SH |  | DFND | 1 | 40775 | 0 | 0 |
| CHENIERE ENERGY INC | COM NEW | 16411R208 |  | 608800 | 2500 | SH |  | DFND | 3 | 2500 | 0 | 0 |
| KINDER MORGAN INC DEL | COM | 49456B101 |  | 117600 | 4000 | SH | Put | DFND | 1 | 4000 | 0 | 0 |
| KELLANOVA | COM | 487836108 |  | 32607300 | 410000 | SH |  | DFND | 2 | 410000 | 0 | 0 |
| KINDER MORGAN INC DEL | COM | 49456B101 |  | 21374 | 727 | SH |  | DFND | 1 | 727 | 0 | 0 |
| KRANESHARES TRUST | CSI CHI INTERNET | 500767306 |  | 1052386 | 30655 | SH |  | DFND | 2 | 30655 | 0 | 0 |
| LOCKHEED MARTIN CORP | COM | 539830109 |  | 80586 | 174 | SH |  | DFND | 1 | 174 | 0 | 0 |
| CARMAX INC | COM | 143130102 |  | 211039 | 3140 | SH |  | DFND | 2 | 3140 | 0 | 0 |
| LEVI STRAUSS  CO NEW | CL A COM STK | 52736R102 |  | 635686 | 34380 | SH |  | DFND | 2 | 34380 | 0 | 0 |
| SPDR SERIES TRUST | S REGL BKG | 78464A698 |  | 8772616 | 147712 | SH |  | DFND | 1 | 147712 | 0 | 0 |
| ELI LILLY  CO | COM | 532457108 |  | 25724 | 33 | SH |  | DFND | 2 | 33 | 0 | 0 |
| JOHNSON  JOHNSON | COM | 478160104 |  | 70418 | 461 | SH |  | DFND | 1 | 461 | 0 | 0 |
| ILLINOIS TOOL WKS INC | COM | 452308109 |  | 148350 | 600 | SH | Put | DFND | 1 | 600 | 0 | 0 |
| LPL FINL HLDGS INC | COM | 50212V100 |  | 599952 | 1600 | SH |  | DFND | 3 | 1600 | 0 | 0 |
| JOHNSON  JOHNSON | COM | 478160104 |  | 27953 | 183 | SH |  | DFND | 2 | 183 | 0 | 0 |
| ISHARES TR | RUSSELL 2000 ETF | 464287655 |  | 103579200 | 480000 | SH | Call | DFND | 1 | 480000 | 0 | 0 |
| KLA CORP | COM NEW | 482480100 |  | 268722 | 300 | SH | Put | DFND | 1 | 300 | 0 | 0 |
| ISHARES TR | RUSSELL 2000 ETF | 464287655 |  | 32369 | 150 | SH |  | DFND | 1 | 150 | 0 | 0 |
| LOWES COS INC | COM | 548661107 |  | 19525 | 88 | SH |  | DFND | 2 | 88 | 0 | 0 |
| ILLINOIS TOOL WKS INC | COM | 452308109 |  | 38571 | 156 | SH |  | DFND | 1 | 156 | 0 | 0 |
| KKR  CO INC | COM | 48251W104 |  | 26074 | 196 | SH |  | DFND | 1 | 196 | 0 | 0 |
| CHENIERE ENERGY INC | COM NEW | 16411R208 |  | 9574719 | 39318 | SH |  | DFND | 2 | 39318 | 0 | 0 |
| LINDE PLC | SHS | G54950103 |  | 20644 | 44 | SH |  | DFND | 2 | 44 | 0 | 0 |
| LYFT INC | CL A COM | 55087P104 |  | 670651 | 42554 | SH |  | DFND | 2 | 42554 | 0 | 0 |
| ILLINOIS TOOL WKS INC | COM | 452308109 |  | 20275 | 82 | SH |  | DFND | 2 | 82 | 0 | 0 |
| CARMAX INC | COM | 143130102 |  | 168025 | 2500 | SH | Call | DFND | 1 | 2500 | 0 | 0 |
| ELI LILLY  CO | COM | 532457108 |  | 353907 | 454 | SH |  | DFND | 1 | 454 | 0 | 0 |
| LOCKHEED MARTIN CORP | COM | 539830109 |  | 31957 | 69 | SH |  | DFND | 2 | 69 | 0 | 0 |
| CARMAX INC | COM | 143130102 |  | 20096 | 299 | SH |  | DFND | 1 | 299 | 0 | 0 |
| LIBERTY BROADBAND CORP | COM SER C | 530307305 |  | 2196114 | 23846 | SH |  | DFND | 2 | 23846 | 0 | 0 |
| COCA COLA CO | COM | 191216100 |  | 30776 | 435 | SH |  | DFND | 2 | 435 | 0 | 0 |
| LINDE PLC | SHS | G54950103 |  | 22521 | 48 | SH |  | DFND | 1 | 48 | 0 | 0 |
| CARMAX INC | COM | 143130102 |  | 168025 | 2500 | SH | Put | DFND | 1 | 2500 | 0 | 0 |
| MERCK  CO INC | COM | 58933Y105 |  | 56045 | 708 | SH |  | DFND | 2 | 708 | 0 | 0 |
| ISHARES TR | MSCI CHINA ETF | 46429B671 |  | 5476940 | 99400 | SH |  | DFND | 3 | 99400 | 0 | 0 |
| MARSH  MCLENNAN COS INC | COM | 571748102 |  | 147363 | 674 | SH |  | DFND | 1 | 674 | 0 | 0 |
| MCDONALDS CORP | COM | 580135101 |  | 263537 | 902 | SH |  | DFND | 1 | 902 | 0 | 0 |
| MARSH  MCLENNAN COS INC | COM | 571748102 |  | 131184 | 600 | SH | Call | DFND | 1 | 600 | 0 | 0 |
| MONGODB INC | CL A | 60937P106 |  | 1784915 | 8500 | SH | Call | DFND | 1 | 8500 | 0 | 0 |
| MONDELEZ INTL INC | CL A | 609207105 |  | 31360 | 465 | SH |  | DFND | 2 | 465 | 0 | 0 |
| MAG SILVER CORP | COM | 55903Q104 |  | 1093554 | 37800 | SH |  | DFND | 2 | 37800 | 0 | 0 |
| MODERNA INC | COM | 60770K107 |  | 49386 | 1790 | SH |  | DFND | 1 | 1790 | 0 | 0 |
| MOBILEYE GLOBAL INC | COMMON CLASS A | 60741F104 |  | 899000 | 50000 | SH | Call | DFND | 1 | 50000 | 0 | 0 |
| MODERNA INC | COM | 60770K107 |  | 66216 | 2400 | SH | Put | DFND | 1 | 2400 | 0 | 0 |
| MOBILEYE GLOBAL INC | COMMON CLASS A | 60741F104 |  | 8541 | 475 | SH |  | DFND | 2 | 475 | 0 | 0 |
| ALTRIA GROUP INC | COM | 02209S103 |  | 71939 | 1227 | SH |  | DFND | 2 | 1227 | 0 | 0 |
| ALTRIA GROUP INC | COM | 02209S103 |  | 181753 | 3100 | SH | Put | DFND | 1 | 3100 | 0 | 0 |
| 3M CO | COM | 88579Y101 |  | 91344 | 600 | SH | Call | DFND | 1 | 600 | 0 | 0 |
| MEDTRONIC PLC | SHS | G5960L103 |  | 98764 | 1133 | SH |  | DFND | 1 | 1133 | 0 | 0 |
| MODERNA INC | COM | 60770K107 |  | 185957 | 6740 | SH |  | DFND | 2 | 6740 | 0 | 0 |
| MARSH  MCLENNAN COS INC | COM | 571748102 |  | 28205 | 129 | SH |  | DFND | 2 | 129 | 0 | 0 |
| MONDELEZ INTL INC | CL A | 609207105 |  | 168600 | 2500 | SH | Put | DFND | 1 | 2500 | 0 | 0 |
| MONDELEZ INTL INC | CL A | 609207105 |  | 44038 | 653 | SH |  | DFND | 1 | 653 | 0 | 0 |
| MANHATTAN ASSOCIATES INC | COM | 562750109 |  | 207738 | 1052 | SH |  | DFND | 2 | 1052 | 0 | 0 |
| MASTERCARD INCORPORATED | CL A | 57636Q104 |  | 178135 | 317 | SH |  | DFND | 1 | 317 | 0 | 0 |
| MONGODB INC | CL A | 60937P106 |  | 71817 | 342 | SH |  | DFND | 1 | 342 | 0 | 0 |
| MONGODB INC | CL A | 60937P106 |  | 1784915 | 8500 | SH | Put | DFND | 1 | 8500 | 0 | 0 |
| MARRIOTT INTL INC NEW | CL A | 571903202 |  | 163926 | 600 | SH | Put | DFND | 1 | 600 | 0 | 0 |
| NXP SEMICONDUCTORS N V | COM | N6596X109 |  | 65547 | 300 | SH | Call | DFND | 1 | 300 | 0 | 0 |
| NETFLIX INC | COM | 64110L106 |  | 1076661 | 804 | SH |  | DFND | 1 | 804 | 0 | 0 |
| NXP SEMICONDUCTORS N V | COM | N6596X109 |  | 4807 | 22 | SH |  | DFND | 1 | 22 | 0 | 0 |
| MICROSTRATEGY INC | CL A NEW | 594972408 |  | 229198 | 567 | SH |  | DFND | 3 | 567 | 0 | 0 |
| NORTHROP GRUMMAN CORP | COM | 666807102 |  | 31499 | 63 | SH |  | DFND | 2 | 63 | 0 | 0 |
| NORTHROP GRUMMAN CORP | COM | 666807102 |  | 28999 | 58 | SH |  | DFND | 1 | 58 | 0 | 0 |
| NIKE INC | CL B | 654106103 |  | 213120 | 3000 | SH | Put | DFND | 1 | 3000 | 0 | 0 |
| SERVICENOW INC | COM | 81762P102 |  | 308424 | 300 | SH | Call | DFND | 1 | 300 | 0 | 0 |
| ONEOK INC NEW | COM | 682680103 |  | 106119 | 1300 | SH | Put | DFND | 1 | 1300 | 0 | 0 |
| NIKE INC | CL B | 654106103 |  | 1421 | 20 | SH |  | DFND | 1 | 20 | 0 | 0 |
| NXP SEMICONDUCTORS N V | COM | N6596X109 |  | 131094 | 600 | SH | Put | DFND | 1 | 600 | 0 | 0 |
| NEW GOLD INC CDA | COM | 644535106 |  | 1151577 | 170100 | SH |  | DFND | 2 | 170100 | 0 | 0 |
| NEXTERA ENERGY INC | COM | 65339F101 |  | 126414 | 1821 | SH |  | DFND | 1 | 1821 | 0 | 0 |
| NORTHROP GRUMMAN CORP | COM | 666807102 |  | 149994 | 300 | SH | Put | DFND | 1 | 300 | 0 | 0 |
| MICROSTRATEGY INC | CL A NEW | 594972408 |  | 4042300 | 10000 | SH | Put | DFND | 3 | 10000 | 0 | 0 |
| ORLA MNG LTD NEW | COM | 68634K106 |  | 1005480 | 73500 | SH |  | DFND | 2 | 73500 | 0 | 0 |
| MICROSTRATEGY INC | CL A NEW | 594972408 |  | 4042300 | 10000 | SH | Call | DFND | 3 | 10000 | 0 | 0 |
| NXP SEMICONDUCTORS N V | COM | N6596X109 |  | 30152 | 138 | SH |  | DFND | 2 | 138 | 0 | 0 |
| ONEOK INC NEW | COM | 682680103 |  | 74773 | 916 | SH |  | DFND | 1 | 916 | 0 | 0 |
| PHILLIPS 66 | COM | 718546104 |  | 37937 | 318 | SH |  | DFND | 2 | 318 | 0 | 0 |
| OVINTIV INC | COM | 69047Q102 |  | 206079 | 5416 | SH |  | DFND | 2 | 5416 | 0 | 0 |
| OREILLY AUTOMOTIVE INC | COM | 67103H107 |  | 135195 | 1500 | SH | Put | DFND | 1 | 1500 | 0 | 0 |
| PACCAR INC | COM | 693718108 |  | 39545 | 416 | SH |  | DFND | 2 | 416 | 0 | 0 |
| PHILLIPS 66 | COM | 718546104 |  | 95440 | 800 | SH | Put | DFND | 1 | 800 | 0 | 0 |
| PACCAR INC | COM | 693718108 |  | 114072 | 1200 | SH | Put | DFND | 1 | 1200 | 0 | 0 |
| PNC FINL SVCS GROUP INC | COM | 693475105 |  | 167778 | 900 | SH | Put | DFND | 1 | 900 | 0 | 0 |
| QUALCOMM INC | COM | 747525103 |  | 109093 | 685 | SH |  | DFND | 1 | 685 | 0 | 0 |
| PTC THERAPEUTICS INC | COM | 69366J200 |  | 348034 | 7126 | SH |  | DFND | 2 | 7126 | 0 | 0 |
| PROLOGIS INC. | COM | 74340W103 |  | 89562 | 852 | SH |  | DFND | 1 | 852 | 0 | 0 |
| PROLOGIS INC. | COM | 74340W103 |  | 115632 | 1100 | SH | Call | DFND | 1 | 1100 | 0 | 0 |
| PARKER-HANNIFIN CORP | COM | 701094104 |  | 209541 | 300 | SH | Put | DFND | 1 | 300 | 0 | 0 |
| PAN AMERN SILVER CORP | COM | 697900108 |  | 208656 | 5400 | SH |  | DFND | 2 | 5400 | 0 | 0 |
| PALANTIR TECHNOLOGIES INC | CL A | 69608A108 |  | 4089600 | 30000 | SH | Call | DFND | 3 | 30000 | 0 | 0 |
| QUANTA SVCS INC | COM | 74762E102 |  | 151232 | 400 | SH | Put | DFND | 1 | 400 | 0 | 0 |
| PALANTIR TECHNOLOGIES INC | CL A | 69608A108 |  | 375153 | 2752 | SH |  | DFND | 3 | 2752 | 0 | 0 |
| PALANTIR TECHNOLOGIES INC | CL A | 69608A108 |  | 4089600 | 30000 | SH | Put | DFND | 3 | 30000 | 0 | 0 |
| PEPSICO INC | COM | 713448108 |  | 67737 | 513 | SH |  | DFND | 2 | 513 | 0 | 0 |
| PROGRESSIVE CORP | COM | 743315103 |  | 160116 | 600 | SH | Call | DFND | 1 | 600 | 0 | 0 |
| PHILIP MORRIS INTL INC | COM | 718172109 |  | 6010 | 33 | SH |  | DFND | 2 | 33 | 0 | 0 |
| OREILLY AUTOMOTIVE INC | COM | 67103H107 |  | 28391 | 315 | SH |  | DFND | 2 | 315 | 0 | 0 |
| PAYPAL HLDGS INC | COM | 70450Y103 |  | 104048 | 1400 | SH | Call | DFND | 1 | 1400 | 0 | 0 |
| PNC FINL SVCS GROUP INC | COM | 693475105 |  | 3356 | 18 | SH |  | DFND | 1 | 18 | 0 | 0 |
| PROGRESSIVE CORP | COM | 743315103 |  | 49636 | 186 | SH |  | DFND | 1 | 186 | 0 | 0 |
| PALANTIR TECHNOLOGIES INC | CL A | 69608A108 |  | 627072 | 4600 | SH | Put | DFND | 1 | 4600 | 0 | 0 |
| PHILLIPS 66 | COM | 718546104 |  | 47720 | 400 | SH | Call | DFND | 1 | 400 | 0 | 0 |
| PACCAR INC | COM | 693718108 |  | 33936 | 357 | SH |  | DFND | 1 | 357 | 0 | 0 |
| PALANTIR TECHNOLOGIES INC | CL A | 69608A108 |  | 245376 | 1800 | SH | Call | DFND | 1 | 1800 | 0 | 0 |
| PEPSICO INC | COM | 713448108 |  | 127947 | 969 | SH |  | DFND | 1 | 969 | 0 | 0 |
| PROCTER AND GAMBLE CO | COM | 742718109 |  | 28678 | 180 | SH |  | DFND | 2 | 180 | 0 | 0 |
| PHILLIPS 66 | COM | 718546104 |  | 21951 | 184 | SH |  | DFND | 1 | 184 | 0 | 0 |
| PFIZER INC | COM | 717081103 |  | 70272 | 2899 | SH |  | DFND | 2 | 2899 | 0 | 0 |
| PNC FINL SVCS GROUP INC | COM | 693475105 |  | 63010 | 338 | SH |  | DFND | 2 | 338 | 0 | 0 |
| REGENERON PHARMACEUTICALS | COM | 75886F107 |  | 96075 | 183 | SH |  | DFND | 1 | 183 | 0 | 0 |
| SHERWIN WILLIAMS CO | COM | 824348106 |  | 103008 | 300 | SH | Call | DFND | 1 | 300 | 0 | 0 |
| RIVIAN AUTOMOTIVE INC | COM CL A | 76954A103 |  | 5523 | 402 | SH |  | DFND | 1 | 402 | 0 | 0 |
| ROPER TECHNOLOGIES INC | COM | 776696106 |  | 28342 | 50 | SH |  | DFND | 1 | 50 | 0 | 0 |
| GLOBAL X FDS | GLOBAL X SILVER | 37954Y848 |  | 962800 | 20000 | SH |  | DFND | 2 | 20000 | 0 | 0 |
| REGENERON PHARMACEUTICALS | COM | 75886F107 |  | 29925 | 57 | SH |  | DFND | 2 | 57 | 0 | 0 |
| SKECHERS U S A INC | CL A | 830566105 |  | 6026050 | 95500 | SH |  | DFND | 2 | 95500 | 0 | 0 |
| INVESCO QQQ TR | UNIT SER 1 | 46090E103 |  | 35856600 | 65000 | SH | Call | DFND | 1 | 65000 | 0 | 0 |
| FERRARI N V | COM | N3167Y103 |  | 336209 | 808 | SH |  | DFND | 2 | 808 | 0 | 0 |
| RESTAURANT BRANDS INTL INC | COM | 76131D103 |  | 8255690 | 124539 | SH |  | DFND | 2 | 124539 | 0 | 0 |
| RH | COM | 74967X103 |  | 6804 | 36 | SH |  | DFND | 2 | 36 | 0 | 0 |
| ROPER TECHNOLOGIES INC | COM | 776696106 |  | 113368 | 200 | SH | Put | DFND | 1 | 200 | 0 | 0 |
| RIVIAN AUTOMOTIVE INC | COM CL A | 76954A103 |  | 274800 | 20000 | SH | Put | DFND | 1 | 20000 | 0 | 0 |
| INVESCO QQQ TR | UNIT SER 1 | 46090E103 |  | 6056456 | 10979 | SH |  | DFND |  | 10979 | 0 | 0 |
| ROKU INC | COM CL A | 77543R102 |  | 209354 | 2382 | SH |  | DFND | 2 | 2382 | 0 | 0 |
| SHERWIN WILLIAMS CO | COM | 824348106 |  | 171680 | 500 | SH | Put | DFND | 1 | 500 | 0 | 0 |
| RED ROCK RESORTS INC | CL A | 75700L108 |  | 355261 | 6828 | SH |  | DFND | 2 | 6828 | 0 | 0 |
| ROPER TECHNOLOGIES INC | COM | 776696106 |  | 11904 | 21 | SH |  | DFND | 2 | 21 | 0 | 0 |
| SPDR SERIES TRUST | S DIVID ETF | 78464A763 |  | 2157564 | 15896 | SH |  | DFND | 2 | 15896 | 0 | 0 |
| SCHWAB CHARLES CORP | COM | 808513105 |  | 155108 | 1700 | SH | Call | DFND | 1 | 1700 | 0 | 0 |
| RH | COM | 74967X103 |  | 340218 | 1800 | SH | Call | DFND | 1 | 1800 | 0 | 0 |
| STARBUCKS CORP | COM | 855244109 |  | 81734 | 892 | SH |  | DFND | 1 | 892 | 0 | 0 |
| RADIUS RECYCLING INC | CL A | 806882106 |  | 9529213 | 320957 | SH |  | DFND | 2 | 320957 | 0 | 0 |
| SHOPIFY INC | CL A SUB VTG SHS | 82509L107 |  | 6658925 | 57728 | SH |  | DFND | 2 | 57728 | 0 | 0 |
| AMPLIFY ETF TR | AMPLIFY JUNIOR S | 032108649 |  | 972774 | 65728 | SH |  | DFND | 2 | 65728 | 0 | 0 |
| RTX CORPORATION | COM | 75513E101 |  | 204428 | 1400 | SH | Call | DFND | 1 | 1400 | 0 | 0 |
| ROYAL CARIBBEAN GROUP | COM | V7780T103 |  | 187884 | 600 | SH | Put | DFND | 1 | 600 | 0 | 0 |
| RIVIAN AUTOMOTIVE INC | COM CL A | 76954A103 |  | 274800 | 20000 | SH | Call | DFND | 1 | 20000 | 0 | 0 |
| SHERWIN WILLIAMS CO | COM | 824348106 |  | 58028 | 169 | SH |  | DFND | 1 | 169 | 0 | 0 |
| REGENERON PHARMACEUTICALS | COM | 75886F107 |  | 157500 | 300 | SH | Put | DFND | 1 | 300 | 0 | 0 |
| ROKU INC | COM CL A | 77543R102 |  | 2478498 | 28200 | SH | Call | DFND | 1 | 28200 | 0 | 0 |
| RTX CORPORATION | COM | 75513E101 |  | 32855 | 225 | SH |  | DFND | 2 | 225 | 0 | 0 |
| INVESCO QQQ TR | UNIT SER 1 | 46090E103 |  | 35856600 | 65000 | SH | Put | DFND | 1 | 65000 | 0 | 0 |
| SHERWIN WILLIAMS CO | COM | 824348106 |  | 19228 | 56 | SH |  | DFND | 2 | 56 | 0 | 0 |
| S GLOBAL INC | COM | 78409V104 |  | 62748 | 119 | SH |  | DFND | 1 | 119 | 0 | 0 |
| SPDR S 500 ETF TR | TR UNIT | 78462F103 |  | 29656800 | 48000 | SH | Put | DFND | 1 | 48000 | 0 | 0 |
| ISHARES SILVER TR | ISHARES | 46428Q109 |  | 1895860 | 57783 | SH |  | DFND | 2 | 57783 | 0 | 0 |
| SNAP INC | CL A | 83304A106 |  | 2607000 | 300000 | SH | Call | DFND | 1 | 300000 | 0 | 0 |
| STRYKER CORPORATION | COM | 863667101 |  | 158252 | 400 | SH | Call | DFND | 1 | 400 | 0 | 0 |
| SANDSTORM GOLD LTD | COM NEW | 80013R206 |  | 1192611 | 93100 | SH |  | DFND | 2 | 93100 | 0 | 0 |
| SOUTHERN CO | COM | 842587107 |  | 30855 | 336 | SH |  | DFND | 2 | 336 | 0 | 0 |
| SIMON PPTY GROUP INC NEW | COM | 828806109 |  | 44531 | 277 | SH |  | DFND | 1 | 277 | 0 | 0 |
| SCHLUMBERGER LTD | COM STK | 806857108 |  | 2925525 | 86554 | SH |  | DFND | 2 | 86554 | 0 | 0 |
| STANLEY BLACK  DECKER INC | COM | 854502101 |  | 239971 | 3542 | SH |  | DFND | 2 | 3542 | 0 | 0 |
| SCHLUMBERGER LTD | COM STK | 806857108 |  | 2501944 | 74022 | SH |  | DFND | 1 | 74022 | 0 | 0 |
| STELLANTIS N.V | SHS | N82405106 |  | 107179 | 12596 | SH |  | DFND | 3 | 12596 | 0 | 0 |
| STELLANTIS N.V | SHS | N82405106 |  | 65767 | 6557 | SH |  | DFND | 2 | 6557 | 0 | 0 |
| SOUTHERN CO | COM | 842587107 |  | 36181 | 394 | SH |  | DFND | 1 | 394 | 0 | 0 |
| ISHARES SILVER TR | ISHARES | 46428Q109 |  | 1260363 | 38414 | SH |  | DFND | 1 | 38414 | 0 | 0 |
| SIMON PPTY GROUP INC NEW | COM | 828806109 |  | 112532 | 700 | SH | Put | DFND | 1 | 700 | 0 | 0 |
| SYNOPSYS INC | COM | 871607107 |  | 205072 | 400 | SH | Put | DFND | 1 | 400 | 0 | 0 |
| SOUTHERN CO | COM | 842587107 |  | 192843 | 2100 | SH | Put | DFND | 1 | 2100 | 0 | 0 |
| SNAP INC | CL A | 83304A106 |  | 2868 | 330 | SH |  | DFND | 2 | 330 | 0 | 0 |
| SKYWORKS SOLUTIONS INC | COM | 83088M102 |  | 283176 | 3800 | SH |  | DFND | 2 | 3800 | 0 | 0 |
| ISHARES SILVER TR | ISHARES | 46428Q109 |  | 2296700 | 70000 | SH | Call | DFND | 2 | 70000 | 0 | 0 |
| TRUIST FINL CORP | COM | 89832Q109 |  | 16766 | 390 | SH |  | DFND | 1 | 390 | 0 | 0 |
| ISHARES TR | 20 YR TR BD ETF | 464287432 |  | 2206250 | 25000 | SH | Call | DFND | 1 | 25000 | 0 | 0 |
| ISHARES TR | 20 YR TR BD ETF | 464287432 |  | 10621152 | 120353 | SH |  | DFND | 1 | 120353 | 0 | 0 |
| TARGET CORP | COM | 87612E106 |  | 49325 | 500 | SH | Call | DFND | 1 | 500 | 0 | 0 |
| UNION PAC CORP | COM | 907818108 |  | 114350 | 497 | SH |  | DFND | 1 | 497 | 0 | 0 |
| TRUIST FINL CORP | COM | 89832Q109 |  | 41614 | 968 | SH |  | DFND | 2 | 968 | 0 | 0 |
| UNITED PARCEL SERVICE INC | CL B | 911312106 |  | 40376 | 400 | SH |  | DFND | 2 | 400 | 0 | 0 |
| T-MOBILE US INC | COM | 872590104 |  | 144624 | 607 | SH |  | DFND | 1 | 607 | 0 | 0 |
| TAIWAN SEMICONDUCTOR MFG LTD | SPONSORED ADS | 874039100 |  | 7338276 | 32400 | SH | Call | DFND | 1 | 32400 | 0 | 0 |
| UNITED AIRLS HLDGS INC | COM | 910047109 |  | 1909368 | 23978 | SH |  | DFND | 1 | 23978 | 0 | 0 |
| THE TRADE DESK INC | COM CL A | 88339J105 |  | 633512 | 8800 | SH |  | DFND | 3 | 8800 | 0 | 0 |
| AT INC | COM | 00206R102 |  | 5858961 | 202452 | SH |  | DFND | 1 | 202452 | 0 | 0 |
| TRADEWEB MKTS INC | CL A | 892672106 |  | 614880 | 4200 | SH |  | DFND | 3 | 4200 | 0 | 0 |
| UNITED PARCEL SERVICE INC | CL B | 911312106 |  | 106795 | 1058 | SH |  | DFND | 1 | 1058 | 0 | 0 |
| T-MOBILE US INC | COM | 872590104 |  | 27876 | 117 | SH |  | DFND | 2 | 117 | 0 | 0 |
| UNITEDHEALTH GROUP INC | COM | 91324P102 |  | 29949 | 96 | SH |  | DFND | 2 | 96 | 0 | 0 |
| US BANCORP DEL | COM NEW | 902973304 |  | 2308 | 51 | SH |  | DFND | 1 | 51 | 0 | 0 |
| TARGET CORP | COM | 87612E106 |  | 69450 | 704 | SH |  | DFND | 2 | 704 | 0 | 0 |
| BIO-TECHNE CORP | COM | 09073M104 |  | 246960 | 4800 | SH |  | DFND | 2 | 4800 | 0 | 0 |
| TJX COS INC NEW | COM | 872540109 |  | 107560 | 871 | SH |  | DFND | 1 | 871 | 0 | 0 |
| TEXAS INSTRS INC | COM | 882508104 |  | 45469 | 219 | SH |  | DFND | 1 | 219 | 0 | 0 |
| US BANCORP DEL | COM NEW | 902973304 |  | 167425 | 3700 | SH | Put | DFND | 1 | 3700 | 0 | 0 |
| TRUIST FINL CORP | COM | 89832Q109 |  | 73083 | 1700 | SH | Call | DFND | 1 | 1700 | 0 | 0 |
| U HAUL HOLDING COMPANY | COM SER N | 023586506 |  | 4400436 | 80935 | SH |  | DFND | 2 | 80935 | 0 | 0 |
| TRADEWEB MKTS INC | CL A | 892672106 |  | 30305 | 207 | SH |  | DFND | 2 | 207 | 0 | 0 |
| TJX COS INC NEW | COM | 872540109 |  | 18770 | 152 | SH |  | DFND | 2 | 152 | 0 | 0 |
| STRYKER CORPORATION | COM | 863667101 |  | 29672 | 75 | SH |  | DFND | 1 | 75 | 0 | 0 |
| TRANE TECHNOLOGIES PLC | SHS | G8994E103 |  | 218705 | 500 | SH | Put | DFND | 1 | 500 | 0 | 0 |
| TRINET GROUP INC | COM | 896288107 |  | 286270 | 3914 | SH |  | DFND | 2 | 3914 | 0 | 0 |
| THERMO FISHER SCIENTIFIC INC | COM | 883556102 |  | 94878 | 234 | SH |  | DFND | 1 | 234 | 0 | 0 |
| US BANCORP DEL | COM NEW | 902973304 |  | 95025 | 2100 | SH | Call | DFND | 1 | 2100 | 0 | 0 |
| UNION PAC CORP | COM | 907818108 |  | 20247 | 88 | SH |  | DFND | 2 | 88 | 0 | 0 |
| AT INC | COM | 00206R102 |  | 75881 | 2622 | SH |  | DFND | 2 | 2622 | 0 | 0 |
| TRIPLE FLAG PRECIOUS METAL | COM | 89679M104 |  | 1252852 | 38800 | SH |  | DFND | 2 | 38800 | 0 | 0 |
| TRUIST FINL CORP | COM | 89832Q109 |  | 128970 | 3000 | SH | Put | DFND | 1 | 3000 | 0 | 0 |
| UNION PAC CORP | COM | 907818108 |  | 161056 | 700 | SH | Call | DFND | 1 | 700 | 0 | 0 |
| TRIUMPH GROUP INC NEW | COM | 896818101 |  | 3408090 | 132353 | SH |  | DFND | 2 | 132353 | 0 | 0 |
| WASTE MGMT INC DEL | COM | 94106L109 |  | 48510 | 212 | SH |  | DFND | 1 | 212 | 0 | 0 |
| SELECT SECTOR SPDR TR | FINANCIAL | 81369Y605 |  | 2627089 | 50164 | SH |  | DFND | 1 | 50164 | 0 | 0 |
| VISA INC | COM CL A | 92826C839 |  | 674595 | 1900 | SH | Call | DFND | 1 | 1900 | 0 | 0 |
| VISTRA CORP | COM | 92840M102 |  | 155048 | 800 | SH | Put | DFND | 1 | 800 | 0 | 0 |
| WHEATON PRECIOUS METALS CORP | COM | 962879102 |  | 342888 | 2800 | SH |  | DFND | 2 | 2800 | 0 | 0 |
| SELECT SECTOR SPDR TR | ENERGY | 81369Y506 |  | 4240500 | 50000 | SH | Call | DFND | 1 | 50000 | 0 | 0 |
| VALE S A | SPONSORED ADS | 91912E105 |  | 1942000 | 200000 | SH | Call | DFND | 1 | 200000 | 0 | 0 |
| WILLIAMS COS INC | COM | 969457100 |  | 7663 | 122 | SH |  | DFND | 1 | 122 | 0 | 0 |
| WHIRLPOOL CORP | COM | 963320106 |  | 48276 | 476 | SH |  | DFND | 2 | 476 | 0 | 0 |
| SELECT SECTOR SPDR TR | SBI MATERIALS | 81369Y100 |  | 5707650 | 65000 | SH | Call | DFND | 1 | 65000 | 0 | 0 |
| WALMART INC | COM | 931142103 |  | 1124470 | 11500 | SH | Put | DFND | 1 | 11500 | 0 | 0 |
| VISA INC | COM CL A | 92826C839 |  | 30889 | 87 | SH |  | DFND | 2 | 87 | 0 | 0 |
| SELECT SECTOR SPDR TR | ENERGY | 81369Y506 |  | 4772428 | 56272 | SH |  | DFND | 1 | 56272 | 0 | 0 |
| WASTE MGMT INC DEL | COM | 94106L109 |  | 160174 | 700 | SH | Put | DFND | 1 | 700 | 0 | 0 |
| EXXON MOBIL CORP | COM | 30231G102 |  | 27489 | 255 | SH |  | DFND | 2 | 255 | 0 | 0 |
| VERTEX PHARMACEUTICALS INC | COM | 92532F100 |  | 45856 | 103 | SH |  | DFND | 1 | 103 | 0 | 0 |
| VERTIV HOLDINGS CO | COM CL A | 92537N108 |  | 616368 | 4800 | SH |  | DFND | 3 | 4800 | 0 | 0 |
| SELECT SECTOR SPDR TR | COMMUNICATION | 81369Y852 |  | 3527225 | 32500 | SH | Put | DFND | 1 | 32500 | 0 | 0 |
| US BANCORP DEL | COM NEW | 902973304 |  | 61269 | 1354 | SH |  | DFND | 2 | 1354 | 0 | 0 |
| SELECT SECTOR SPDR TR | COMMUNICATION | 81369Y852 |  | 3527225 | 32500 | SH | Call | DFND | 1 | 32500 | 0 | 0 |
| VERTEX PHARMACEUTICALS INC | COM | 92532F100 |  | 133560 | 300 | SH | Put | DFND | 1 | 300 | 0 | 0 |
| WILLIAMS COS INC | COM | 969457100 |  | 144463 | 2300 | SH | Put | DFND | 1 | 2300 | 0 | 0 |
| SELECT SECTOR SPDR TR | INDL | 81369Y704 |  | 2360320 | 16000 | SH | Put | DFND | 1 | 16000 | 0 | 0 |
| WALMART INC | COM | 931142103 |  | 33734 | 345 | SH |  | DFND | 2 | 345 | 0 | 0 |
| VERIZON COMMUNICATIONS INC | COM | 92343V104 |  | 291597 | 6739 | SH |  | DFND | 1 | 6739 | 0 | 0 |
| SELECT SECTOR SPDR TR | ENERGY | 81369Y506 |  | 4240500 | 50000 | SH | Put | DFND | 1 | 50000 | 0 | 0 |
| SELECT SECTOR SPDR TR | SBI MATERIALS | 81369Y100 |  | 1313638 | 14960 | SH |  | DFND | 1 | 14960 | 0 | 0 |
| VEEVA SYS INC | CL A COM | 922475108 |  | 604758 | 2100 | SH |  | DFND | 3 | 2100 | 0 | 0 |
| SELECT SECTOR SPDR TR | INDL | 81369Y704 |  | 2360320 | 16000 | SH | Call | DFND | 1 | 16000 | 0 | 0 |
| VERIZON COMMUNICATIONS INC | COM | 92343V104 |  | 70184 | 1622 | SH |  | DFND | 2 | 1622 | 0 | 0 |
| WHIRLPOOL CORP | COM | 963320106 |  | 1099291 | 10839 | SH |  | DFND | 1 | 10839 | 0 | 0 |
| WORKDAY INC | CL A | 98138H101 |  | 38160 | 159 | SH |  | DFND | 1 | 159 | 0 | 0 |
| WORKDAY INC | CL A | 98138H101 |  | 120000 | 500 | SH | Put | DFND | 1 | 500 | 0 | 0 |
| VIATRIS INC | COM | 92556V106 |  | 250129 | 28010 | SH |  | DFND | 2 | 28010 | 0 | 0 |
| WESTLAKE CORPORATION | COM | 960413102 |  | 240470 | 3167 | SH |  | DFND | 2 | 3167 | 0 | 0 |
| EXXON MOBIL CORP | COM | 30231G102 |  | 354770 | 3291 | SH |  | DFND | 1 | 3291 | 0 | 0 |
| WASTE MGMT INC DEL | COM | 94106L109 |  | 21280 | 93 | SH |  | DFND | 2 | 93 | 0 | 0 |
| YUM CHINA HLDGS INC | COM | 98850P109 |  | 2235500 | 50000 | SH | Put | DFND | 1 | 50000 | 0 | 0 |
| ZOOM COMMUNICATIONS INC | CL A | 98980L101 |  | 3883404 | 49800 | SH | Call | DFND | 1 | 49800 | 0 | 0 |
| YUM CHINA HLDGS INC | COM | 98850P109 |  | 175442 | 3924 | SH |  | DFND | 1 | 3924 | 0 | 0 |
| BLOCK INC | CL A | 852234103 |  | 625975 | 9215 | SH |  | DFND | 3 | 9215 | 0 | 0 |
| FORTINET INC | COM | 34959E109 |  | 74004 | 700 | SH | Call | DFND | 1 | 700 | 0 | 0 |
| HILTON WORLDWIDE HLDGS INC | COM | 43300A203 |  | 79902 | 300 | SH | Call | DFND | 1 | 300 | 0 | 0 |
| BROADCOM INC | COM | 11135F101 |  | 1653900 | 6000 | SH | Call | DFND | 1 | 6000 | 0 | 0 |
| LOWES COS INC | COM | 548661107 |  | 223867 | 1009 | SH |  | DFND | 1 | 1009 | 0 | 0 |
| GILEAD SCIENCES INC | COM | 375558103 |  | 155218 | 1400 | SH | Call | DFND | 1 | 1400 | 0 | 0 |
| MICRON TECHNOLOGY INC | COM | 595112103 |  | 160225 | 1300 | SH | Call | DFND | 1 | 1300 | 0 | 0 |
| SCHLUMBERGER LTD | COM STK | 806857108 |  | 4113460 | 121700 | SH | Call | DFND | 1 | 121700 | 0 | 0 |
| CONSTELLATION ENERGY CORP | COM | 21037T109 |  | 96828 | 300 | SH | Call | DFND | 1 | 300 | 0 | 0 |
| ALIBABA GROUP HLDG LTD | SPONSORED ADS | 01609W102 |  | 2994251 | 26402 | SH |  | DFND | 3 | 26402 | 0 | 0 |
| AMERICAN TOWER CORP NEW | COM | 03027X100 |  | 2387016 | 10800 | SH | Put | DFND | 1 | 10800 | 0 | 0 |
| EXXON MOBIL CORP | COM | 30231G102 |  | 549780 | 5100 | SH | Call | DFND | 1 | 5100 | 0 | 0 |
| ABBVIE INC | COM | 00287Y109 |  | 723918 | 3900 | SH | Put | DFND | 1 | 3900 | 0 | 0 |
| COSTCO WHSL CORP NEW | COM | 22160K105 |  | 1088934 | 1100 | SH | Put | DFND | 1 | 1100 | 0 | 0 |
| PHILIP MORRIS INTL INC | COM | 718172109 |  | 273195 | 1500 | SH | Call | DFND | 1 | 1500 | 0 | 0 |
| NEXTERA ENERGY INC | COM | 65339F101 |  | 173550 | 2500 | SH | Call | DFND | 1 | 2500 | 0 | 0 |
| PHILIP MORRIS INTL INC | COM | 718172109 |  | 546390 | 3000 | SH | Put | DFND | 1 | 3000 | 0 | 0 |
| EQUINIX INC | COM | 29444U700 |  | 159094 | 200 | SH | Call | DFND | 1 | 200 | 0 | 0 |
| BROADCOM INC | COM | 11135F101 |  | 18606375 | 67500 | SH | Call | DFND | 3 | 67500 | 0 | 0 |
| ARISTA NETWORKS INC | COM SHS | 040413205 |  | 153465 | 1500 | SH | Call | DFND | 1 | 1500 | 0 | 0 |
| LOCKHEED MARTIN CORP | COM | 539830109 |  | 138942 | 300 | SH | Call | DFND | 1 | 300 | 0 | 0 |
| BRISTOL-MYERS SQUIBB CO | COM | 110122108 |  | 222192 | 4800 | SH | Put | DFND | 1 | 4800 | 0 | 0 |
| AMERICAN ELEC PWR CO INC | COM | 025537101 |  | 62256 | 600 | SH | Call | DFND | 1 | 600 | 0 | 0 |
| INTERNATIONAL BUSINESS MACHS | COM | 459200101 |  | 619038 | 2100 | SH | Put | DFND | 1 | 2100 | 0 | 0 |
| COCA COLA CO | COM | 191216100 |  | 297150 | 4200 | SH | Call | DFND | 1 | 4200 | 0 | 0 |
| CITIGROUP INC | COM NEW | 172967424 |  | 417088 | 4900 | SH | Put | DFND | 1 | 4900 | 0 | 0 |
| CADENCE DESIGN SYSTEM INC | COM | 127387108 |  | 92445 | 300 | SH | Call | DFND | 1 | 300 | 0 | 0 |
| WILLIAMS COS INC | COM | 969457100 |  | 81653 | 1300 | SH | Call | DFND | 1 | 1300 | 0 | 0 |
| CROWDSTRIKE HLDGS INC | CL A | 22788C105 |  | 101862 | 200 | SH | Call | DFND | 1 | 200 | 0 | 0 |
| TEXAS INSTRS INC | COM | 882508104 |  | 622860 | 3000 | SH | Put | DFND | 1 | 3000 | 0 | 0 |
| UBER TECHNOLOGIES INC | COM | 90353T100 |  | 7305390 | 78300 | SH | Call | DFND | 1 | 78300 | 0 | 0 |
| MEDTRONIC PLC | SHS | G5960L103 |  | 122038 | 1400 | SH | Call | DFND | 1 | 1400 | 0 | 0 |
| CATERPILLAR INC | COM | 149123101 |  | 543494 | 1400 | SH | Put | DFND | 1 | 1400 | 0 | 0 |
| INTEL CORP | COM | 458140100 |  | 112000 | 5000 | SH | Call | DFND | 1 | 5000 | 0 | 0 |
| AMERICAN TOWER CORP NEW | COM | 03027X100 |  | 2320710 | 10500 | SH | Call | DFND | 1 | 10500 | 0 | 0 |
| WALMART INC | COM | 931142103 |  | 469344 | 4800 | SH | Call | DFND | 1 | 4800 | 0 | 0 |
| TESLA INC | COM | 88160R101 |  | 6437698 | 20266 | SH |  | DFND | 1 | 20266 | 0 | 0 |
| ACCENTURE PLC IRELAND | SHS CLASS A | G1151C101 |  | 538002 | 1800 | SH | Put | DFND | 1 | 1800 | 0 | 0 |
| BOEING CO | COM | 097023105 |  | 188577 | 900 | SH | Call | DFND | 1 | 900 | 0 | 0 |
| LAM RESEARCH CORP | COM NEW | 512807306 |  | 330956 | 3400 | SH | Put | DFND | 1 | 3400 | 0 | 0 |
| GE AEROSPACE | COM NEW | 369604301 |  | 591997 | 2300 | SH | Put | DFND | 1 | 2300 | 0 | 0 |
| TJX COS INC NEW | COM | 872540109 |  | 358121 | 2900 | SH | Put | DFND | 1 | 2900 | 0 | 0 |
| DISNEY WALT CO | COM | 254687106 |  | 657253 | 5300 | SH | Put | DFND | 1 | 5300 | 0 | 0 |
| UNION PAC CORP | COM | 907818108 |  | 345120 | 1500 | SH | Put | DFND | 1 | 1500 | 0 | 0 |
| CSX CORP | COM | 126408103 |  | 75049 | 2300 | SH | Call | DFND | 1 | 2300 | 0 | 0 |
| WELLS FARGO CO NEW | COM | 949746101 |  | 304456 | 3800 | SH | Call | DFND | 1 | 3800 | 0 | 0 |
| INVESCO QQQ TR | UNIT SER 1 | 46090E103 |  | 137052200 | 248445 | SH |  | DFND | 3 | 248445 | 0 | 0 |
| BOEING CO | COM | 097023105 |  | 419060 | 2000 | SH | Put | DFND | 1 | 2000 | 0 | 0 |
| CVS HEALTH CORP | COM | 126650100 |  | 5366644 | 77800 | SH | Put | DFND | 1 | 77800 | 0 | 0 |
| JPMORGAN CHASE  CO. | COM | 46625H100 |  | 927712 | 3200 | SH | Call | DFND | 1 | 3200 | 0 | 0 |
| CONOCOPHILLIPS | COM | 20825C104 |  | 287168 | 3200 | SH | Put | DFND | 1 | 3200 | 0 | 0 |
| S GLOBAL INC | COM | 78409V104 |  | 421832 | 800 | SH | Put | DFND | 1 | 800 | 0 | 0 |
| ORACLE CORP | COM | 68389X105 |  | 437260 | 2000 | SH | Call | DFND | 1 | 2000 | 0 | 0 |
| GOLDMAN SACHS GROUP INC | COM | 38141G104 |  | 636975 | 900 | SH | Put | DFND | 1 | 900 | 0 | 0 |
| VANECK ETF TRUST | GOLD MINERS ETF | 92189F106 |  | 2603000 | 50000 | SH | Put | DFND | 1 | 50000 | 0 | 0 |
| EATON CORP PLC | SHS | G29183103 |  | 142796 | 400 | SH | Call | DFND | 1 | 400 | 0 | 0 |
| GALAXY DIGITAL INC. | CL A | 36317J209 |  | 7428065 | 306615 | SH |  | DFND | 2 | 306615 | 0 | 0 |
| PFIZER INC | COM | 717081103 |  | 184224 | 7600 | SH | Call | DFND | 1 | 7600 | 0 | 0 |
| BLACKROCK INC | COM | 09290D101 |  | 314775 | 300 | SH | Call | DFND | 1 | 300 | 0 | 0 |
| ALPHABET INC | CAP STK CL A | 02079K305 |  | 10327078 | 58600 | SH | Put | DFND | 1 | 58600 | 0 | 0 |
| AUTOZONE INC | COM | 053332102 |  | 742446 | 200 | SH | Call | DFND | 1 | 200 | 0 | 0 |
| AMERICAN EXPRESS CO | COM | 025816109 |  | 510368 | 1600 | SH | Put | DFND | 1 | 1600 | 0 | 0 |
| ISHARES ETHEREUM TR | SHS | 46438R105 |  | 102116036 | 5354800 | SH |  | DFND | 2 | 5354800 | 0 | 0 |
| WELLS FARGO CO NEW | COM | 949746101 |  | 673008 | 8400 | SH | Put | DFND | 1 | 8400 | 0 | 0 |
| JPMORGAN CHASE  CO. | COM | 46625H100 |  | 2058361 | 7100 | SH | Put | DFND | 1 | 7100 | 0 | 0 |
| MONDELEZ INTL INC | CL A | 609207105 |  | 94416 | 1400 | SH | Call | DFND | 1 | 1400 | 0 | 0 |
| GENERAL MTRS CO | COM | 37045V100 |  | 68894 | 1400 | SH | Call | DFND | 1 | 1400 | 0 | 0 |
| ICICI BANK LIMITED | ADR | 45104G104 |  | 2787074 | 82850 | SH |  | DFND | 3 | 82850 | 0 | 0 |
| GILEAD SCIENCES INC | COM | 375558103 |  | 288262 | 2600 | SH | Put | DFND | 1 | 2600 | 0 | 0 |
| UNITED PARCEL SERVICE INC | CL B | 911312106 |  | 232162 | 2300 | SH | Put | DFND | 1 | 2300 | 0 | 0 |
| LOCKHEED MARTIN CORP | COM | 539830109 |  | 277884 | 600 | SH | Put | DFND | 1 | 600 | 0 | 0 |
| LAM RESEARCH CORP | COM NEW | 512807306 |  | 136276 | 1400 | SH | Call | DFND | 1 | 1400 | 0 | 0 |
| ADOBE INC | COM | 00724F101 |  | 232128 | 600 | SH | Call | DFND | 1 | 600 | 0 | 0 |
| CNA FINL CORP | COM | 126117100 |  | 4091755 | 87938 | SH |  | DFND | 2 | 87938 | 0 | 0 |
| FREEPORT-MCMORAN INC | CL B | 35671D857 |  | 3784455 | 87300 | SH | Put | DFND | 1 | 87300 | 0 | 0 |
| AMERICAN EXPRESS CO | COM | 025816109 |  | 223286 | 700 | SH | Call | DFND | 1 | 700 | 0 | 0 |
| CONOCOPHILLIPS | COM | 20825C104 |  | 134610 | 1500 | SH | Call | DFND | 1 | 1500 | 0 | 0 |
| ISHARES BITCOIN TRUST ETF | SHS BEN INT | 46438F101 |  | 580346272 | 9481233 | SH |  | DFND | 2 | 9481233 | 0 | 0 |
| CHUBB LIMITED | COM | H1467J104 |  | 144860 | 500 | SH | Call | DFND | 1 | 500 | 0 | 0 |
| SELECT SECTOR SPDR TR | FINANCIAL | 81369Y605 |  | 5237000 | 100000 | SH | Put | DFND | 1 | 100000 | 0 | 0 |
| ISHARES TR | CHINA LG-CAP ETF | 464287184 |  | 18380000 | 500000 | SH | Put | DFND | 1 | 500000 | 0 | 0 |
| SCHLUMBERGER LTD | COM STK | 806857108 |  | 7436000 | 220000 | SH | Put | DFND | 1 | 220000 | 0 | 0 |
| INTERCONTINENTAL EXCHANGE IN | COM | 45866F104 |  | 110082 | 600 | SH | Call | DFND | 1 | 600 | 0 | 0 |
| DEERE  CO | COM | 244199105 |  | 305094 | 600 | SH | Put | DFND | 1 | 600 | 0 | 0 |
| VANECK ETF TRUST | GOLD MINERS ETF | 92189F106 |  | 2603000 | 50000 | SH | Call | DFND | 1 | 50000 | 0 | 0 |
| MASTERCARD INCORPORATED | CL A | 57636Q104 |  | 1180074 | 2100 | SH | Put | DFND | 1 | 2100 | 0 | 0 |
| PROCTER AND GAMBLE CO | COM | 742718109 |  | 955920 | 6000 | SH | Put | DFND | 1 | 6000 | 0 | 0 |
| MERCK  CO INC | COM | 58933Y105 |  | 665261 | 8404 | SH |  | DFND | 1 | 8404 | 0 | 0 |
| INVESCO QQQ TR | UNIT SER 1 | 46090E103 |  | 3913334 | 7094 | SH |  | DFND | 2 | 7094 | 0 | 0 |
| MASTERCARD INCORPORATED | CL A | 57636Q104 |  | 505746 | 900 | SH | Call | DFND | 1 | 900 | 0 | 0 |
| ACCENTURE PLC IRELAND | SHS CLASS A | G1151C101 |  | 239112 | 800 | SH | Call | DFND | 1 | 800 | 0 | 0 |
| S GLOBAL INC | COM | 78409V104 |  | 158187 | 300 | SH | Call | DFND | 1 | 300 | 0 | 0 |
| VERIZON COMMUNICATIONS INC | COM | 92343V104 |  | 644723 | 14900 | SH | Call | DFND | 1 | 14900 | 0 | 0 |
| THOMSON REUTERS CORP | COM | 884903808 |  | 3438787 | 13449 | SH |  | DFND | 2 | 13449 | 0 | 0 |
| KKR  CO INC | COM | 48251W104 |  | 292666 | 2200 | SH | Put | DFND | 1 | 2200 | 0 | 0 |
| HOME DEPOT INC | COM | 437076102 |  | 1539888 | 4200 | SH | Put | DFND | 1 | 4200 | 0 | 0 |
| ISHARES TR | CORE S ETF | 464287200 |  | 4754942231 | 7658145 | SH |  | DFND | 2 | 7658145 | 0 | 0 |
| BLACKSTONE INC | COM | 09260D107 |  | 358992 | 2400 | SH | Put | DFND | 1 | 2400 | 0 | 0 |
| NORTHROP GRUMMAN CORP | COM | 666807102 |  | 99996 | 200 | SH | Call | DFND | 1 | 200 | 0 | 0 |
| BROADCOM INC | COM | 11135F101 |  | 18606375 | 67500 | SH | Put | DFND | 3 | 67500 | 0 | 0 |
| FIDELITY ETHEREUM FD | SHS | 31613E103 |  | 45210253 | 1796196 | SH |  | DFND | 2 | 1796196 | 0 | 0 |
| CHUBB LIMITED | COM | H1467J104 |  | 231776 | 800 | SH | Put | DFND | 1 | 800 | 0 | 0 |
| CVS HEALTH CORP | COM | 126650100 |  | 1298411 | 18823 | SH |  | DFND | 1 | 18823 | 0 | 0 |
| MCDONALDS CORP | COM | 580135101 |  | 233736 | 800 | SH | Call | DFND | 1 | 800 | 0 | 0 |
| SIMON PPTY GROUP INC NEW | COM | 828806109 |  | 64304 | 400 | SH | Call | DFND | 1 | 400 | 0 | 0 |
| ABBVIE INC | COM | 00287Y109 |  | 371240 | 2000 | SH | Call | DFND | 1 | 2000 | 0 | 0 |
| JOHNSON  JOHNSON | COM | 478160104 |  | 809575 | 5300 | SH | Put | DFND | 1 | 5300 | 0 | 0 |
| ROPER TECHNOLOGIES INC | COM | 776696106 |  | 113368 | 200 | SH | Call | DFND | 1 | 200 | 0 | 0 |
| MERCK  CO INC | COM | 58933Y105 |  | 284976 | 3600 | SH | Call | DFND | 1 | 3600 | 0 | 0 |
| ABBOTT LABS | COM | 002824100 |  | 503237 | 3700 | SH | Put | DFND | 1 | 3700 | 0 | 0 |
| PROCTER AND GAMBLE CO | COM | 742718109 |  | 271641 | 1705 | SH |  | DFND | 1 | 1705 | 0 | 0 |
| AMERICAN INTL GROUP INC | COM NEW | 026874784 |  | 2191104 | 25600 | SH | Call | DFND | 1 | 25600 | 0 | 0 |
| GE VERNOVA INC | COM | 36828A101 |  | 158745 | 300 | SH | Call | DFND | 1 | 300 | 0 | 0 |
| ANALOG DEVICES INC | COM | 032654105 |  | 309426 | 1300 | SH | Put | DFND | 1 | 1300 | 0 | 0 |
| STRYKER CORPORATION | COM | 863667101 |  | 316504 | 800 | SH | Put | DFND | 1 | 800 | 0 | 0 |
| EXXON MOBIL CORP | COM | 30231G102 |  | 1142680 | 10600 | SH | Put | DFND | 1 | 10600 | 0 | 0 |
| AMERICAN INTL GROUP INC | COM NEW | 026874784 |  | 2233899 | 26100 | SH | Put | DFND | 1 | 26100 | 0 | 0 |
| CINTAS CORP | COM | 172908105 |  | 66861 | 300 | SH | Call | DFND | 1 | 300 | 0 | 0 |
| NIKE INC | CL B | 654106103 |  | 113664 | 1600 | SH | Call | DFND | 1 | 1600 | 0 | 0 |
| AIR PRODS  CHEMS INC | COM | 009158106 |  | 84618 | 300 | SH | Call | DFND | 1 | 300 | 0 | 0 |
| INTUITIVE SURGICAL INC | COM NEW | 46120E602 |  | 543410 | 1000 | SH | Put | DFND | 1 | 1000 | 0 | 0 |
| NETFLIX INC | COM | 64110L106 |  | 669565 | 500 | SH | Call | DFND | 1 | 500 | 0 | 0 |
| AMAZON COM INC | COM | 023135106 |  | 2544924 | 11600 | SH | Call | DFND | 1 | 11600 | 0 | 0 |
| BRISTOL-MYERS SQUIBB CO | COM | 110122108 |  | 124983 | 2700 | SH | Call | DFND | 1 | 2700 | 0 | 0 |
| ILLINOIS TOOL WKS INC | COM | 452308109 |  | 74175 | 300 | SH | Call | DFND | 1 | 300 | 0 | 0 |
| PROGRESSIVE CORP | COM | 743315103 |  | 346918 | 1300 | SH | Put | DFND | 1 | 1300 | 0 | 0 |
| ISHARES SILVER TR | ISHARES | 46428Q109 |  | 49215000 | 1500000 | SH | Call | DFND | 1 | 1500000 | 0 | 0 |
| THERMO FISHER SCIENTIFIC INC | COM | 883556102 |  | 202730 | 500 | SH | Put | DFND | 1 | 500 | 0 | 0 |
| MICROSOFT CORP | COM | 594918104 |  | 14673595 | 29500 | SH | Put | DFND | 1 | 29500 | 0 | 0 |
| COCA COLA CO | COM | 191216100 |  | 608450 | 8600 | SH | Put | DFND | 1 | 8600 | 0 | 0 |
| KKR  CO INC | COM | 48251W104 |  | 119727 | 900 | SH | Call | DFND | 1 | 900 | 0 | 0 |
| ISHARES TR | MSCI EMG MKT ETF | 464287234 |  | 18958320 | 393000 | SH | Call | DFND | 2 | 393000 | 0 | 0 |
| PALO ALTO NETWORKS INC | COM | 697435105 |  | 368352 | 1800 | SH | Put | DFND | 1 | 1800 | 0 | 0 |
| UBER TECHNOLOGIES INC | COM | 90353T100 |  | 419850 | 4500 | SH | Put | DFND | 1 | 4500 | 0 | 0 |
| SOUTHERN CO | COM | 842587107 |  | 119379 | 1300 | SH | Call | DFND | 1 | 1300 | 0 | 0 |
| AT INC | COM | 00206R102 |  | 439888 | 15200 | SH | Put | DFND | 1 | 15200 | 0 | 0 |
| AMGEN INC | COM | 031162100 |  | 195447 | 700 | SH | Call | DFND | 1 | 700 | 0 | 0 |
| BROOKFIELD ASSET MANAGMT LTD | CL A LMT VTG SHS | 113004105 |  | 10509686 | 159608 | SH |  | DFND | 2 | 159608 | 0 | 0 |
| VANECK ETF TRUST | SEMICONDUCTR ETF | 92189F676 |  | 1452407 | 5208 | SH |  | DFND | 1 | 5208 | 0 | 0 |
| TESLA INC | COM | 88160R101 |  | 1238874 | 3900 | SH | Call | DFND | 1 | 3900 | 0 | 0 |
| ANALOG DEVICES INC | COM | 032654105 |  | 142812 | 600 | SH | Call | DFND | 1 | 600 | 0 | 0 |
| SALESFORCE INC | COM | 79466L302 |  | 2208789 | 8100 | SH | Put | DFND | 1 | 8100 | 0 | 0 |
| COMCAST CORP NEW | CL A | 20030N101 |  | 546057 | 15300 | SH | Put | DFND | 1 | 15300 | 0 | 0 |
| KLA CORP | COM NEW | 482480100 |  | 179148 | 200 | SH | Call | DFND | 1 | 200 | 0 | 0 |
| AUTOMATIC DATA PROCESSING IN | COM | 053015103 |  | 308400 | 1000 | SH | Put | DFND | 1 | 1000 | 0 | 0 |
| CHEVRON CORP NEW | COM | 166764100 |  | 1718280 | 12000 | SH | Call | DFND | 1 | 12000 | 0 | 0 |
| INTERPUBLIC GROUP COS INC | COM | 460690100 |  | 6600420 | 269625 | SH |  | DFND | 2 | 269625 | 0 | 0 |
| ONEOK INC NEW | COM | 682680103 |  | 57141 | 700 | SH | Call | DFND | 1 | 700 | 0 | 0 |
| SALESFORCE INC | COM | 79466L302 |  | 16715897 | 61300 | SH | Call | DFND | 1 | 61300 | 0 | 0 |
| VANECK ETF TRUST | SEMICONDUCTR ETF | 92189F676 |  | 105974400 | 380000 | SH | Put | DFND |  | 380000 | 0 | 0 |
| ADVANCED MICRO DEVICES INC | COM | 007903107 |  | 3547500 | 25000 | SH | Put | DFND | 1 | 25000 | 0 | 0 |
| MARVELL TECHNOLOGY INC | COM | 573874104 |  | 1199700 | 15500 | SH |  | DFND | 1 | 15500 | 0 | 0 |
| SPDR SERIES TRUST | S REGL BKG | 78464A698 |  | 72253874 | 1216600 | SH | Put | DFND | 1 | 1216600 | 0 | 0 |
| EMERSON ELEC CO | COM | 291011104 |  | 93331 | 700 | SH | Call | DFND | 1 | 700 | 0 | 0 |
| INVESCO QQQ TR | UNIT SER 1 | 46090E103 |  | 325467600 | 590000 | SH | Put | DFND | 3 | 590000 | 0 | 0 |
| CATERPILLAR INC | COM | 149123101 |  | 232926 | 600 | SH | Call | DFND | 1 | 600 | 0 | 0 |
| STARBUCKS CORP | COM | 855244109 |  | 128282 | 1400 | SH | Call | DFND | 1 | 1400 | 0 | 0 |
| CVS HEALTH CORP | COM | 126650100 |  | 82776 | 1200 | SH | Call | DFND | 1 | 1200 | 0 | 0 |
| FREEPORT-MCMORAN INC | CL B | 35671D857 |  | 69360 | 1600 | SH | Call | DFND | 1 | 1600 | 0 | 0 |
| BOSTON SCIENTIFIC CORP | COM | 101137107 |  | 365194 | 3400 | SH | Put | DFND | 1 | 3400 | 0 | 0 |
| QUALCOMM INC | COM | 747525103 |  | 2452604 | 15400 | SH | Put | DFND | 1 | 15400 | 0 | 0 |
| HONEYWELL INTL INC | COM | 438516106 |  | 209592 | 900 | SH | Call | DFND | 1 | 900 | 0 | 0 |
| CITIGROUP INC | COM NEW | 172967424 |  | 187264 | 2200 | SH | Call | DFND | 1 | 2200 | 0 | 0 |
| APPLIED MATLS INC | COM | 038222105 |  | 439368 | 2400 | SH | Put | DFND | 1 | 2400 | 0 | 0 |
| EATON CORP PLC | SHS | G29183103 |  | 428388 | 1200 | SH | Put | DFND | 1 | 1200 | 0 | 0 |
| UNITED PARCEL SERVICE INC | CL B | 911312106 |  | 1211280 | 12000 | SH | Call | DFND | 1 | 12000 | 0 | 0 |
| SPDR S 500 ETF TR | TR UNIT | 78462F103 |  | 1886168155 | 3052793 | SH |  | DFND | 2 | 3052793 | 0 | 0 |
| ALTRIA GROUP INC | COM | 02209S103 |  | 412403 | 7034 | SH |  | DFND | 1 | 7034 | 0 | 0 |
| PEPSICO INC | COM | 713448108 |  | 462140 | 3500 | SH | Put | DFND | 1 | 3500 | 0 | 0 |
| SPDR S 500 ETF TR | TR UNIT | 78462F103 |  | 61785000 | 100000 | SH | Put | DFND | 2 | 100000 | 0 | 0 |
| PFIZER INC | COM | 717081103 |  | 2726806 | 112492 | SH |  | DFND | 1 | 112492 | 0 | 0 |
| LENNAR CORP | CL A | 526057104 |  | 2289295 | 20697 | SH |  | DFND | 2 | 20697 | 0 | 0 |
| VERIZON COMMUNICATIONS INC | COM | 92343V104 |  | 1202906 | 27800 | SH | Put | DFND | 1 | 27800 | 0 | 0 |
| META PLATFORMS INC | CL A | 30303M102 |  | 1919034 | 2600 | SH | Call | DFND | 1 | 2600 | 0 | 0 |
| JOHNSON  JOHNSON | COM | 478160104 |  | 412425 | 2700 | SH | Call | DFND | 1 | 2700 | 0 | 0 |
| COSTCO WHSL CORP NEW | COM | 22160K105 |  | 494970 | 500 | SH | Call | DFND | 1 | 500 | 0 | 0 |
| DANAHER CORPORATION | COM | 235851102 |  | 177786 | 900 | SH | Call | DFND | 1 | 900 | 0 | 0 |
| NVIDIA CORPORATION | COM | 67066G104 |  | 7757309 | 49100 | SH | Call | DFND | 1 | 49100 | 0 | 0 |
| ADOBE INC | COM | 00724F101 |  | 386880 | 1000 | SH | Put | DFND | 1 | 1000 | 0 | 0 |
| TARGET CORP | COM | 87612E106 |  | 220187 | 2232 | SH |  | DFND | 1 | 2232 | 0 | 0 |
| BANK AMERICA CORP | COM | 060505104 |  | 1807624 | 38200 | SH | Put | DFND | 1 | 38200 | 0 | 0 |
| TRANE TECHNOLOGIES PLC | SHS | G8994E103 |  | 131223 | 300 | SH | Call | DFND | 1 | 300 | 0 | 0 |
| INVESCO QQQ TR | UNIT SER 1 | 46090E103 |  | 772296000 | 1400000 | SH | Call | DFND | 3 | 1400000 | 0 | 0 |
| MICRON TECHNOLOGY INC | COM | 595112103 |  | 369750 | 3000 | SH | Put | DFND | 1 | 3000 | 0 | 0 |
| FREEPORT-MCMORAN INC | CL B | 35671D857 |  | 616957 | 14232 | SH |  | DFND | 1 | 14232 | 0 | 0 |
| NETFLIX INC | COM | 64110L106 |  | 1473043 | 1100 | SH | Put | DFND | 1 | 1100 | 0 | 0 |
| URBAN OUTFITTERS INC | COM | 917047102 |  | 3065395 | 42258 | SH |  | DFND | 1 | 42258 | 0 | 0 |
| BOSTON SCIENTIFIC CORP | COM | 101137107 |  | 171856 | 1600 | SH | Call | DFND | 1 | 1600 | 0 | 0 |
| DANAHER CORPORATION | COM | 235851102 |  | 355572 | 1800 | SH | Put | DFND | 1 | 1800 | 0 | 0 |
| VANECK ETF TRUST | SEMICONDUCTR ETF | 92189F676 |  | 63500976 | 227700 | SH | Call | DFND | 3 | 227700 | 0 | 0 |
| AIRBNB INC | COM CL A | 009066101 |  | 66170 | 500 | SH | Call | DFND | 1 | 500 | 0 | 0 |
| TARGET CORP | COM | 87612E106 |  | 345275 | 3500 | SH | Put | DFND | 1 | 3500 | 0 | 0 |
| ALTRIA GROUP INC | COM | 02209S103 |  | 111397 | 1900 | SH | Call | DFND | 1 | 1900 | 0 | 0 |
| DISNEY WALT CO | COM | 254687106 |  | 4637974 | 37400 | SH | Call | DFND | 1 | 37400 | 0 | 0 |
| ADVANCED MICRO DEVICES INC | COM | 007903107 |  | 3135990 | 22100 | SH | Call | DFND | 1 | 22100 | 0 | 0 |
| T-MOBILE US INC | COM | 872590104 |  | 119130 | 500 | SH | Call | DFND | 1 | 500 | 0 | 0 |
| VANECK ETF TRUST | SEMICONDUCTR ETF | 92189F676 |  | 58564800 | 210000 | SH | Call | DFND |  | 210000 | 0 | 0 |
| KINDER MORGAN INC DEL | COM | 49456B101 |  | 67620 | 2300 | SH | Call | DFND | 1 | 2300 | 0 | 0 |
| SERVICENOW INC | COM | 81762P102 |  | 719656 | 700 | SH | Put | DFND | 1 | 700 | 0 | 0 |
| MORGAN STANLEY | COM NEW | 617446448 |  | 211290 | 1500 | SH | Call | DFND | 1 | 1500 | 0 | 0 |
| 3M CO | COM | 88579Y101 |  | 66377 | 436 | SH |  | DFND | 1 | 436 | 0 | 0 |
| PROLOGIS INC. | COM | 74340W103 |  | 231264 | 2200 | SH | Put | DFND | 1 | 2200 | 0 | 0 |
| LINDE PLC | SHS | G54950103 |  | 234590 | 500 | SH | Call | DFND | 1 | 500 | 0 | 0 |
| VISTRA CORP | COM | 92840M102 |  | 77524 | 400 | SH | Call | DFND | 1 | 400 | 0 | 0 |
| RTX CORPORATION | COM | 75513E101 |  | 438060 | 3000 | SH | Put | DFND | 1 | 3000 | 0 | 0 |
| PROCTER AND GAMBLE CO | COM | 742718109 |  | 446096 | 2800 | SH | Call | DFND | 1 | 2800 | 0 | 0 |
| CHEVRON CORP NEW | COM | 166764100 |  | 1990341 | 13900 | SH | Put | DFND | 1 | 13900 | 0 | 0 |
| BLACKROCK INC | COM | 09290D101 |  | 524625 | 500 | SH | Put | DFND | 1 | 500 | 0 | 0 |
| TESLA INC | COM | 88160R101 |  | 13024060 | 41000 | SH | Put | DFND | 1 | 41000 | 0 | 0 |
| GENERAL DYNAMICS CORP | COM | 369550108 |  | 87498 | 300 | SH | Call | DFND | 1 | 300 | 0 | 0 |
| PALO ALTO NETWORKS INC | COM | 697435105 |  | 163712 | 800 | SH | Call | DFND | 1 | 800 | 0 | 0 |
| ROYAL CARIBBEAN GROUP | COM | V7780T103 |  | 93942 | 300 | SH | Call | DFND | 1 | 300 | 0 | 0 |
| ORACLE CORP | COM | 68389X105 |  | 1093150 | 5000 | SH | Put | DFND | 1 | 5000 | 0 | 0 |
| PAYPAL HLDGS INC | COM | 70450Y103 |  | 1410371 | 18977 | SH |  | DFND | 1 | 18977 | 0 | 0 |
| QUANTA SVCS INC | COM | 74762E102 |  | 75616 | 200 | SH | Call | DFND | 1 | 200 | 0 | 0 |
| NVIDIA CORPORATION | COM | 67066G104 |  | 14187502 | 89800 | SH | Put | DFND | 1 | 89800 | 0 | 0 |
| ALPHABET INC | CAP STK CL A | 02079K305 |  | 2563970 | 14549 | SH |  | DFND | 1 | 14549 | 0 | 0 |
| VANECK ETF TRUST | SEMICONDUCTR ETF | 92189F676 |  | 19521600 | 70000 | SH | Put | DFND | 1 | 70000 | 0 | 0 |
| ISHARES TR | CHINA LG-CAP ETF | 464287184 |  | 18380000 | 500000 | SH | Call | DFND | 1 | 500000 | 0 | 0 |
| ELEVANCE HEALTH INC | COM | 036752103 |  | 116688 | 300 | SH | Call | DFND | 1 | 300 | 0 | 0 |
| EOG RES INC | COM | 26875P101 |  | 83727 | 700 | SH | Call | DFND | 1 | 700 | 0 | 0 |
| VANECK ETF TRUST | SEMICONDUCTR ETF | 92189F676 |  | 63500976 | 227700 | SH | Put | DFND | 3 | 227700 | 0 | 0 |
| SELECT SECTOR SPDR TR | FINANCIAL | 81369Y605 |  | 5237000 | 100000 | SH | Call | DFND | 1 | 100000 | 0 | 0 |
| GOLDMAN SACHS GROUP INC | COM | 38141G104 |  | 212325 | 300 | SH | Call | DFND | 1 | 300 | 0 | 0 |
| HONEYWELL INTL INC | COM | 438516106 |  | 419184 | 1800 | SH | Put | DFND | 1 | 1800 | 0 | 0 |
| OREILLY AUTOMOTIVE INC | COM | 67103H107 |  | 270390 | 3000 | SH | Call | DFND | 1 | 3000 | 0 | 0 |
| MERCK  CO INC | COM | 58933Y105 |  | 633280 | 8000 | SH | Put | DFND | 1 | 8000 | 0 | 0 |
| APPLE INC | COM | 037833100 |  | 3980298 | 19400 | SH | Call | DFND | 1 | 19400 | 0 | 0 |
| MORGAN STANLEY | COM NEW | 617446448 |  | 478924 | 3400 | SH | Put | DFND | 1 | 3400 | 0 | 0 |
| NEWS CORP NEW | CL A | 65249B109 |  | 9188057 | 309154 | SH |  | DFND | 2 | 309154 | 0 | 0 |
| SPDR S 500 ETF TR | TR UNIT | 78462F103 |  | 81760091 | 132330 | SH |  | DFND | 1 | 132330 | 0 | 0 |
| TEXAS INSTRS INC | COM | 882508104 |  | 228382 | 1100 | SH | Call | DFND | 1 | 1100 | 0 | 0 |
| WASTE MGMT INC DEL | COM | 94106L109 |  | 114410 | 500 | SH | Call | DFND | 1 | 500 | 0 | 0 |
| STARBUCKS CORP | COM | 855244109 |  | 247401 | 2700 | SH | Put | DFND | 1 | 2700 | 0 | 0 |
| AMGEN INC | COM | 031162100 |  | 335052 | 1200 | SH | Put | DFND | 1 | 1200 | 0 | 0 |
| PAYPAL HLDGS INC | COM | 70450Y103 |  | 4295696 | 57800 | SH | Put | DFND | 1 | 57800 | 0 | 0 |
| THERMO FISHER SCIENTIFIC INC | COM | 883556102 |  | 202730 | 500 | SH | Call | DFND | 1 | 500 | 0 | 0 |
| AT INC | COM | 00206R102 |  | 214156 | 7400 | SH | Call | DFND | 1 | 7400 | 0 | 0 |
| VANECK ETF TRUST | SEMICONDUCTR ETF | 92189F676 |  | 43226400 | 155000 | SH | Call | DFND | 1 | 155000 | 0 | 0 |
| QUALCOMM INC | COM | 747525103 |  | 2197788 | 13800 | SH | Call | DFND | 1 | 13800 | 0 | 0 |
| INTERNATIONAL BUSINESS MACHS | COM | 459200101 |  | 324258 | 1100 | SH | Call | DFND | 1 | 1100 | 0 | 0 |
| ISHARES TR | MSCI EMG MKT ETF | 464287234 |  | 9632853 | 199686 | SH |  | DFND | 1 | 199686 | 0 | 0 |
| CHIPOTLE MEXICAN GRILL INC | COM | 169656105 |  | 95455 | 1700 | SH | Call | DFND | 1 | 1700 | 0 | 0 |
| T-MOBILE US INC | COM | 872590104 |  | 262086 | 1100 | SH | Put | DFND | 1 | 1100 | 0 | 0 |
| ELI LILLY  CO | COM | 532457108 |  | 623624 | 800 | SH | Call | DFND | 1 | 800 | 0 | 0 |
| APPLE INC | COM | 037833100 |  | 9273684 | 45200 | SH | Put | DFND | 1 | 45200 | 0 | 0 |
| AMAZON COM INC | COM | 023135106 |  | 6077103 | 27700 | SH | Put | DFND | 1 | 27700 | 0 | 0 |
| REGENERON PHARMACEUTICALS | COM | 75886F107 |  | 105000 | 200 | SH | Call | DFND | 1 | 200 | 0 | 0 |
| LOWES COS INC | COM | 548661107 |  | 443740 | 2000 | SH | Put | DFND | 1 | 2000 | 0 | 0 |
| MARRIOTT INTL INC NEW | CL A | 571903202 |  | 81963 | 300 | SH | Call | DFND | 1 | 300 | 0 | 0 |
| ABBOTT LABS | COM | 002824100 |  | 258419 | 1900 | SH | Call | DFND | 1 | 1900 | 0 | 0 |
| APPLIED MATLS INC | COM | 038222105 |  | 549210 | 3000 | SH | Call | DFND | 1 | 3000 | 0 | 0 |
| ALPHABET INC | CAP STK CL A | 02079K305 |  | 2308613 | 13100 | SH | Call | DFND | 1 | 13100 | 0 | 0 |
| COMCAST CORP NEW | CL A | 20030N101 |  | 266961 | 7480 | SH |  | DFND | 1 | 7480 | 0 | 0 |
| DUKE ENERGY CORP NEW | COM NEW | 26441C204 |  | 94400 | 800 | SH | Call | DFND | 1 | 800 | 0 | 0 |
| MEDTRONIC PLC | SHS | G5960L103 |  | 252793 | 2900 | SH | Put | DFND | 1 | 2900 | 0 | 0 |
| BIO RAD LABS INC | CL A | 090572207 |  | 1999819 | 8287 | SH |  | DFND | 2 | 8287 | 0 | 0 |
| CISCO SYS INC | COM | 17275R102 |  | 679924 | 9800 | SH | Put | DFND | 1 | 9800 | 0 | 0 |
| APPLE INC | COM | 037833100 |  | 3535695 | 17233 | SH |  | DFND | 1 | 17233 | 0 | 0 |
| NEXTERA ENERGY INC | COM | 65339F101 |  | 367926 | 5300 | SH | Put | DFND | 1 | 5300 | 0 | 0 |
| SCHWAB CHARLES CORP | COM | 808513105 |  | 328464 | 3600 | SH | Put | DFND | 1 | 3600 | 0 | 0 |
| INTUITIVE SURGICAL INC | COM NEW | 46120E602 |  | 217364 | 400 | SH | Call | DFND | 1 | 400 | 0 | 0 |
| HOME DEPOT INC | COM | 437076102 |  | 989928 | 2700 | SH | Call | DFND | 1 | 2700 | 0 | 0 |
| VISA INC | COM CL A | 92826C839 |  | 1455705 | 4100 | SH | Put | DFND | 1 | 4100 | 0 | 0 |
| INTUIT | COM | 461202103 |  | 236289 | 300 | SH | Call | DFND | 1 | 300 | 0 | 0 |
| TJX COS INC NEW | COM | 872540109 |  | 148188 | 1200 | SH | Call | DFND | 1 | 1200 | 0 | 0 |
| PNC FINL SVCS GROUP INC | COM | 693475105 |  | 93210 | 500 | SH | Call | DFND | 1 | 500 | 0 | 0 |
| MCDONALDS CORP | COM | 580135101 |  | 496689 | 1700 | SH | Put | DFND | 1 | 1700 | 0 | 0 |
| PEPSICO INC | COM | 713448108 |  | 237672 | 1800 | SH | Call | DFND | 1 | 1800 | 0 | 0 |
| COLGATE PALMOLIVE CO | COM | 194162103 |  | 209070 | 2300 | SH | Call | DFND | 1 | 2300 | 0 | 0 |
| LOWES COS INC | COM | 548661107 |  | 155309 | 700 | SH | Call | DFND | 1 | 700 | 0 | 0 |
| INTUIT | COM | 461202103 |  | 551341 | 700 | SH | Put | DFND | 1 | 700 | 0 | 0 |
| BROADCOM INC | COM | 11135F101 |  | 7525245 | 27300 | SH | Put | DFND | 1 | 27300 | 0 | 0 |
| META PLATFORMS INC | CL A | 30303M102 |  | 4280922 | 5800 | SH | Put | DFND | 1 | 5800 | 0 | 0 |
| SYNOPSYS INC | COM | 871607107 |  | 102536 | 200 | SH | Call | DFND | 1 | 200 | 0 | 0 |
| PACCAR INC | COM | 693718108 |  | 66542 | 700 | SH | Call | DFND | 1 | 700 | 0 | 0 |
| GILEAD SCIENCES INC | COM | 375558103 |  | 319971 | 2886 | SH |  | DFND | 1 | 2886 | 0 | 0 |
| MICROSOFT CORP | COM | 594918104 |  | 8455970 | 17000 | SH | Call | DFND | 1 | 17000 | 0 | 0 |
| BANK AMERICA CORP | COM | 060505104 |  | 5957588 | 125900 | SH | Call | DFND | 1 | 125900 | 0 | 0 |
| PARKER-HANNIFIN CORP | COM | 701094104 |  | 139694 | 200 | SH | Call | DFND | 1 | 200 | 0 | 0 |
| LINDE PLC | SHS | G54950103 |  | 563016 | 1200 | SH | Put | DFND | 1 | 1200 | 0 | 0 |
| MARVELL TECHNOLOGY INC | COM | 573874104 |  | 3877740 | 50100 | SH | Put | DFND | 1 | 50100 | 0 | 0 |
| FEDEX CORP | COM | 31428X106 |  | 224128 | 986 | SH |  | DFND | 1 | 986 | 0 | 0 |
| CHEVRON CORP NEW | COM | 166764100 |  | 835943 | 5838 | SH |  | DFND | 1 | 5838 | 0 | 0 |
| ISHARES TR | IBOXX HI YD ETF | 464288513 |  | 100812500 | 1250000 | SH | Put | DFND | 1 | 1250000 | 0 | 0 |
| MARSH  MCLENNAN COS INC | COM | 571748102 |  | 262368 | 1200 | SH | Put | DFND | 1 | 1200 | 0 | 0 |
| WORKDAY INC | CL A | 98138H101 |  | 72000 | 300 | SH | Call | DFND | 1 | 300 | 0 | 0 |
| ISHARES TR | MSCI EMG MKT ETF | 464287234 |  | 126104184 | 2614100 | SH | Call | DFND | 3 | 2614100 | 0 | 0 |
| ARISTA NETWORKS INC | COM SHS | 040413205 |  | 378547 | 3700 | SH | Put | DFND | 1 | 3700 | 0 | 0 |
| COMCAST CORP NEW | CL A | 20030N101 |  | 3740312 | 104800 | SH | Call | DFND | 1 | 104800 | 0 | 0 |
| 3M CO | COM | 88579Y101 |  | 228360 | 1500 | SH | Put | DFND | 1 | 1500 | 0 | 0 |
| GE VERNOVA INC | COM | 36828A101 |  | 582065 | 1100 | SH | Put | DFND | 1 | 1100 | 0 | 0 |
| ELI LILLY  CO | COM | 532457108 |  | 1481107 | 1900 | SH | Put | DFND | 1 | 1900 | 0 | 0 |
| UNITEDHEALTH GROUP INC | COM | 91324P102 |  | 2932518 | 9400 | SH | Call | DFND | 1 | 9400 | 0 | 0 |
| PALO ALTO NETWORKS INC | COM | 697435105 |  | 294682 | 1440 | SH |  | DFND | 1 | 1440 | 0 | 0 |
| VERTEX PHARMACEUTICALS INC | COM | 92532F100 |  | 133560 | 300 | SH | Call | DFND | 1 | 300 | 0 | 0 |
| PFIZER INC | COM | 717081103 |  | 4035960 | 166500 | SH | Put | DFND | 1 | 166500 | 0 | 0 |

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