# EDGAR Filing Document

**Accession Number:** 0001438848
**File Stem:** 0001172661-26-001215
**Filing Date:** 2026-2
**Character Count:** 40857
**Document Hash:** 7487995f3dcbe1d77da068416029de46
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001172661-26-001215.hdr.sgml**: 20260217

**ACCESSION NUMBER**: 0001172661-26-001215

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

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260217

**DATE AS OF CHANGE**: 20260217

**EFFECTIVENESS DATE**: 20260217

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** GAM Holding AG
- **CENTRAL INDEX KEY:** 0001438848
- **ORGANIZATION NAME:** International Corp Fin
- **EIN:** 000000000
- **STATE OF INCORPORATION:** V8
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-13808
- **FILM NUMBER:** 26643472

**BUSINESS ADDRESS:**
- **STREET 1:** HARDSTRASSE 201
- **STREET 2:** P.O. BOX
- **CITY:** ZURICH
- **STATE:** V8
- **ZIP:** 8037
- **BUSINESS PHONE:** 01141584263030

**MAIL ADDRESS:**
- **STREET 1:** HARDSTRASSE 201
- **CITY:** ZURICH
- **STATE:** V8
- **ZIP:** 8037

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** GAM Holding Ltd.
- **DATE OF NAME CHANGE:** 20091001

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Julius Baer Holding Ltd.
- **DATE OF NAME CHANGE:** 20080627

### 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:** GAM Holding AG<br>**Address:** Hardstrasse 201<br>Zurich, V8 8037

**Form 13F File Number:** 028-13808

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:** David Kemp<br>**Title:** Group Head Legal  Compliance<br>**Phone:** 44-0-20-7917-2404

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

/s/ David Kemp  London, X0  02-17-2026<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:** 3

**Form 13F Information Table Entry Total:** 380

**Form 13F Information Table Value Total:** $1567051091

      (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   |
|:---|:---|:---|
|  | GAM INTERNATIONAL MANAGEMENT LTD           |  |
|  | GAM Investment Management (Switzerland) AG |  |
|  | GAM London Limited                         |  |

### 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 LABS | COM | 002824100 |  | 3052190 | 24361 | SH |  | SOLE | 2 | 24361 | 0 | 0 |
| ABBOTT LABS | COM | 002824100 |  | 385768 | 3079 | SH |  | SOLE | 1 | 3079 | 0 | 0 |
| ABBVIE INC | COM | 00287Y109 |  | 2286728 | 10008 | SH |  | SOLE | 1 | 10008 | 0 | 0 |
| ACCENTURE PLC IRELAND | SHS CLASS A | G1151C101 |  | 413450 | 1541 | SH |  | SOLE | 1 | 1541 | 0 | 0 |
| ADOBE INC | COM | 00724F101 |  | 6974251 | 19927 | SH |  | SOLE | 2 | 19927 | 0 | 0 |
| ADVANCED MICRO DEVICES INC | COM | 007903107 |  | 2192570 | 10238 | SH |  | SOLE | 1 | 10238 | 0 | 0 |
| AGNICO EAGLE MINES LTD | COM | 008474108 |  | 305649 | 1800 | SH |  | SOLE | 1 | 1800 | 0 | 0 |
| ALCON AG | ORD SHS | H01301128 |  | 102877 | 1288 | SH |  | SOLE | 1 | 1288 | 0 | 0 |
| ALCON AG | ORD SHS | H01301128 |  | 15508372 | 194161 | SH |  | SOLE | 2 | 194161 | 0 | 0 |
| ALPHABET INC | CAP STK CL C | 02079K107 |  | 8105454 | 25830 | SH |  | SOLE | 1 | 25830 | 0 | 0 |
| ALPHABET INC | CAP STK CL A | 02079K305 |  | 27065736 | 86472 | SH |  | SOLE | 1 | 86472 | 0 | 0 |
| ALPHABET INC | CAP STK CL A | 02079K305 |  | 52661937 | 168249 | SH |  | SOLE | 2 | 168249 | 0 | 0 |
| ALTI GLOBAL INC | CL A | 02157E106 |  | 24680 | 5319 | SH |  | SOLE | 2 | 5319 | 0 | 0 |
| ALTI GLOBAL INC | CL A | 02157E106 |  | 94939 | 20461 | SH |  | SOLE | 1 | 20461 | 0 | 0 |
| AMAZON COM INC | COM | 023135106 |  | 35471956 | 153678 | SH |  | SOLE | 1 | 153678 | 0 | 0 |
| AMAZON COM INC | COM | 023135106 |  | 9195638 | 39839 | SH |  | SOLE | 2 | 39839 | 0 | 0 |
| AMER SPORTS INC | COM SHS | G0260P102 |  | 10039680 | 268800 | SH |  | SOLE | 1 | 268800 | 0 | 0 |
| AMERICA MOVIL SAB DE CV | SPON ADS RP CL B | 02390A101 |  | 2196167 | 106249 | SH |  | SOLE | 1 | 106249 | 0 | 0 |
| AMERICAN EXPRESS CO | COM | 025816109 |  | 457998 | 1238 | SH |  | SOLE | 1 | 1238 | 0 | 0 |
| AMERICAN WOODMARK CORPORATIO | COM | 030506109 |  | 700700 | 13000 | SH |  | SOLE | 1 | 13000 | 0 | 0 |
| AMERICAN WOODMARK CORPORATIO | COM | 030506109 |  | 161700 | 3000 | SH |  | SOLE | 2 | 3000 | 0 | 0 |
| AMERICAN WTR WKS CO INC NEW | COM | 030420103 |  | 1755225 | 13450 | SH |  | SOLE | 1 | 13450 | 0 | 0 |
| AMETEK INC | COM | 031100100 |  | 3395417 | 16538 | SH |  | SOLE | 2 | 16538 | 0 | 0 |
| AMETEK INC | COM | 031100100 |  | 1999309 | 9738 | SH |  | SOLE | 1 | 9738 | 0 | 0 |
| AMGEN INC | COM | 031162100 |  | 427794 | 1307 | SH |  | SOLE | 1 | 1307 | 0 | 0 |
| AMPHENOL CORP NEW | CL A | 032095101 |  | 5749261 | 42543 | SH |  | SOLE | 2 | 42543 | 0 | 0 |
| AMPHENOL CORP NEW | CL A | 032095101 |  | 463800 | 3432 | SH |  | SOLE | 1 | 3432 | 0 | 0 |
| AMRIZE LTD | SHS | H2927K103 |  | 17480685 | 317858 | SH |  | SOLE | 2 | 317858 | 0 | 0 |
| ANALOG DEVICES INC | COM | 032654105 |  | 3496582 | 12893 | SH |  | SOLE | 2 | 12893 | 0 | 0 |
| ANGLOGOLD ASHANTI PLC | COM SHS | G0378L100 |  | 1738462 | 20100 | SH |  | SOLE | 1 | 20100 | 0 | 0 |
| AON PLC | SHS CL A | G0403H108 |  | 450981 | 1278 | SH |  | SOLE | 1 | 1278 | 0 | 0 |
| APOLLO GLOBAL MGMT INC | COM | 03769M106 |  | 453967 | 3136 | SH |  | SOLE | 1 | 3136 | 0 | 0 |
| APPLE INC | COM | 037833100 |  | 27873534 | 102529 | SH |  | SOLE | 2 | 102529 | 0 | 0 |
| APPLE INC | COM | 037833100 |  | 34359026 | 126385 | SH |  | SOLE | 1 | 126385 | 0 | 0 |
| APPLIED MATLS INC | COM | 038222105 |  | 5742442 | 22345 | SH |  | SOLE | 2 | 22345 | 0 | 0 |
| APPLIED MATLS INC | COM | 038222105 |  | 5096369 | 19831 | SH |  | SOLE | 1 | 19831 | 0 | 0 |
| APPLOVIN CORP | COM CL A | 03831W108 |  | 353756 | 525 | SH |  | SOLE | 1 | 525 | 0 | 0 |
| APPLOVIN CORP | COM CL A | 03831W108 |  | 2301095 | 3415 | SH |  | SOLE | 2 | 3415 | 0 | 0 |
| APTIV PLC | COM SHS | G3265R107 |  | 481117 | 6323 | SH |  | SOLE | 1 | 6323 | 0 | 0 |
| APTIV PLC | COM SHS | G3265R107 |  | 719507 | 9456 | SH |  | SOLE | 2 | 9456 | 0 | 0 |
| ARISTA NETWORKS INC | COM SHS | 040413205 |  | 437509 | 3339 | SH |  | SOLE | 1 | 3339 | 0 | 0 |
| ASTRAZENECA PLC | SPONSORED ADR | 046353108 |  | 3933960 | 42793 | SH |  | SOLE | 2 | 42793 | 0 | 0 |
| ATOUR LIFESTYLE HLDGS LTD | SPONSORED ADS | 04965M106 |  | 1497200 | 38000 | SH |  | SOLE | 2 | 38000 | 0 | 0 |
| ATOUR LIFESTYLE HLDGS LTD | SPONSORED ADS | 04965M106 |  | 866800 | 22000 | SH |  | SOLE | 1 | 22000 | 0 | 0 |
| AUTODESK INC | COM | 052769106 |  | 3550344 | 11994 | SH |  | SOLE | 2 | 11994 | 0 | 0 |
| AUTOLIV INC | COM | 052800109 |  | 2223370 | 18731 | SH |  | SOLE | 1 | 18731 | 0 | 0 |
| AUTOMATIC DATA PROCESSING IN | COM | 053015103 |  | 4588983 | 17840 | SH |  | SOLE | 2 | 17840 | 0 | 0 |
| AVALONBAY CMNTYS INC | COM | 053484101 |  | 3395211 | 18726 | SH |  | SOLE | 1 | 18726 | 0 | 0 |
| AXON ENTERPRISE INC | COM | 05464C101 |  | 247617 | 436 | SH |  | SOLE | 1 | 436 | 0 | 0 |
| BAIDU INC | SPON ADR REP A | 056752108 |  | 3369852 | 25791 | SH |  | SOLE | 1 | 25791 | 0 | 0 |
| BANCO BBVA ARGENTINA S A | SPONSORED ADS | 058934100 |  | 891953 | 49361 | SH |  | SOLE | 1 | 49361 | 0 | 0 |
| BANCO MACRO SA | SPON ADR B | 05961W105 |  | 386967 | 4292 | SH |  | SOLE | 1 | 4292 | 0 | 0 |
| BANK AMERICA CORP | COM | 060505104 |  | 466675 | 8485 | SH |  | SOLE | 1 | 8485 | 0 | 0 |
| BANK AMERICA CORP | COM | 060505104 |  | 5602245 | 101859 | SH |  | SOLE | 2 | 101859 | 0 | 0 |
| BARRICK MNG CORP | COM SHS | 06849F108 |  | 287882 | 6600 | SH |  | SOLE | 1 | 6600 | 0 | 0 |
| BATTALION OIL CORP | COM | 07134L107 |  | 90400 | 80000 | SH |  | SOLE | 1 | 80000 | 0 | 0 |
| BERKSHIRE HATHAWAY INC DEL | CL B NEW | 084670702 |  | 3425560 | 6815 | SH |  | SOLE | 2 | 6815 | 0 | 0 |
| BERKSHIRE HATHAWAY INC DEL | CL B NEW | 084670702 |  | 2973677 | 5916 | SH |  | SOLE | 1 | 5916 | 0 | 0 |
| BIOCERES CROP SOLUTIONS CORP | SHS | G1117K114 |  | 655000 | 500000 | SH |  | SOLE | 1 | 500000 | 0 | 0 |
| BLACKROCK INC | COM | 09290D101 |  | 445261 | 416 | SH |  | SOLE | 1 | 416 | 0 | 0 |
| BOEING CO | COM | 097023105 |  | 474841 | 2187 | SH |  | SOLE | 1 | 2187 | 0 | 0 |
| BOOKING HOLDINGS INC | COM | 09857L108 |  | 428426 | 80 | SH |  | SOLE | 1 | 80 | 0 | 0 |
| BOOKING HOLDINGS INC | COM | 09857L108 |  | 13559696 | 2532 | SH |  | SOLE | 2 | 2532 | 0 | 0 |
| BORGWARNER INC | COM | 099724106 |  | 2442612 | 54208 | SH |  | SOLE | 1 | 54208 | 0 | 0 |
| BOSTON SCIENTIFIC CORP | COM | 101137107 |  | 349172 | 3662 | SH |  | SOLE | 1 | 3662 | 0 | 0 |
| BOSTON SCIENTIFIC CORP | COM | 101137107 |  | 1829480 | 19187 | SH |  | SOLE | 2 | 19187 | 0 | 0 |
| BRIGHTHOUSE FINL INC | COM | 10922N103 |  | 323950 | 5000 | SH |  | SOLE | 2 | 5000 | 0 | 0 |
| BRIGHTHOUSE FINL INC | COM | 10922N103 |  | 647900 | 10000 | SH |  | SOLE | 1 | 10000 | 0 | 0 |
| BRISTOL-MYERS SQUIBB CO | COM | 110122108 |  | 4687170 | 86896 | SH |  | SOLE | 2 | 86896 | 0 | 0 |
| BROADCOM INC | COM | 11135F101 |  | 5919694 | 17104 | SH |  | SOLE | 2 | 17104 | 0 | 0 |
| BROADCOM INC | COM | 11135F101 |  | 21623290 | 62477 | SH |  | SOLE | 1 | 62477 | 0 | 0 |
| BROOKFIELD CORP | CL A LTD VT SH | 11271J107 |  | 383890 | 8350 | SH |  | SOLE | 1 | 8350 | 0 | 0 |
| BROWN  BROWN INC | COM | 115236101 |  | 2080967 | 26110 | SH |  | SOLE | 1 | 26110 | 0 | 0 |
| BWX TECHNOLOGIES INC | COM | 05605H100 |  | 2092574 | 12107 | SH |  | SOLE | 2 | 12107 | 0 | 0 |
| CADENCE DESIGN SYSTEM INC | COM | 127387108 |  | 3422438 | 10949 | SH |  | SOLE | 2 | 10949 | 0 | 0 |
| CADIZ INC | COM NEW | 127537207 |  | 953700 | 170000 | SH |  | SOLE | 1 | 170000 | 0 | 0 |
| CADIZ INC | COM NEW | 127537207 |  | 336600 | 60000 | SH |  | SOLE | 2 | 60000 | 0 | 0 |
| CANADIAN NAT RES LTD | COM | 136385101 |  | 369682 | 10900 | SH |  | SOLE | 1 | 10900 | 0 | 0 |
| CANADIAN PACIFIC KANSAS CITY | COM | 13646K108 |  | 1279979 | 17363 | SH |  | SOLE | 2 | 17363 | 0 | 0 |
| CANADIAN PACIFIC KANSAS CITY | COM | 13646K108 |  | 2159960 | 29300 | SH |  | SOLE | 1 | 29300 | 0 | 0 |
| CAPITAL ONE FINL CORP | COM | 14040H105 |  | 378809 | 1563 | SH |  | SOLE | 1 | 1563 | 0 | 0 |
| CARDINAL HEALTH INC | COM | 14149Y108 |  | 238175 | 1159 | SH |  | SOLE | 1 | 1159 | 0 | 0 |
| CARGURUS INC | COM CL A | 141788109 |  | 3185658 | 83068 | SH |  | SOLE | 1 | 83068 | 0 | 0 |
| CATERPILLAR INC | COM | 149123101 |  | 5913164 | 10322 | SH |  | SOLE | 2 | 10322 | 0 | 0 |
| CATERPILLAR INC | COM | 149123101 |  | 2055458 | 3588 | SH |  | SOLE | 1 | 3588 | 0 | 0 |
| CBOE GLOBAL MKTS INC | COM | 12503M108 |  | 1274076 | 5076 | SH |  | SOLE | 2 | 5076 | 0 | 0 |
| CF INDS HLDGS INC | COM | 125269100 |  | 619493 | 8010 | SH |  | SOLE | 2 | 8010 | 0 | 0 |
| CHEVRON CORP NEW | COM | 166764100 |  | 431778 | 2833 | SH |  | SOLE | 1 | 2833 | 0 | 0 |
| CHIPOTLE MEXICAN GRILL INC | COM | 169656105 |  | 348466 | 9418 | SH |  | SOLE | 1 | 9418 | 0 | 0 |
| CHURCH  DWIGHT CO INC | COM | 171340102 |  | 2020785 | 24100 | SH |  | SOLE | 1 | 24100 | 0 | 0 |
| CINTAS CORP | COM | 172908105 |  | 387424 | 2060 | SH |  | SOLE | 1 | 2060 | 0 | 0 |
| CISCO SYS INC | COM | 17275R102 |  | 5187354 | 67342 | SH |  | SOLE | 2 | 67342 | 0 | 0 |
| CISCO SYS INC | COM | 17275R102 |  | 2271769 | 29492 | SH |  | SOLE | 1 | 29492 | 0 | 0 |
| CITIGROUP INC | COM NEW | 172967424 |  | 2041958 | 17499 | SH |  | SOLE | 2 | 17499 | 0 | 0 |
| CITIGROUP INC | COM NEW | 172967424 |  | 343885 | 2947 | SH |  | SOLE | 1 | 2947 | 0 | 0 |
| CLOUDFLARE INC | CL A COM | 18915M107 |  | 608208 | 3085 | SH |  | SOLE | 2 | 3085 | 0 | 0 |
| COCA COLA CO | COM | 191216100 |  | 4321557 | 61816 | SH |  | SOLE | 2 | 61816 | 0 | 0 |
| COCA COLA CO | COM | 191216100 |  | 1685181 | 24105 | SH |  | SOLE | 1 | 24105 | 0 | 0 |
| CONOCOPHILLIPS | COM | 20825C104 |  | 4110790 | 43914 | SH |  | SOLE | 2 | 43914 | 0 | 0 |
| CONSTELLATION ENERGY CORP | COM | 21037T109 |  | 325715 | 922 | SH |  | SOLE | 1 | 922 | 0 | 0 |
| CORNING INC | COM | 219350105 |  | 2632054 | 30060 | SH |  | SOLE | 2 | 30060 | 0 | 0 |
| CORTEVA INC | COM | 22052L104 |  | 316516 | 4722 | SH |  | SOLE | 1 | 4722 | 0 | 0 |
| CORTEVA INC | COM | 22052L104 |  | 910737 | 13587 | SH |  | SOLE | 2 | 13587 | 0 | 0 |
| COSTCO WHSL CORP NEW | COM | 22160K105 |  | 7197952 | 8347 | SH |  | SOLE | 2 | 8347 | 0 | 0 |
| COSTCO WHSL CORP NEW | COM | 22160K105 |  | 2807779 | 3256 | SH |  | SOLE | 1 | 3256 | 0 | 0 |
| COTY INC | COM CL A | 222070203 |  | 169400 | 55000 | SH |  | SOLE | 2 | 55000 | 0 | 0 |
| COTY INC | COM CL A | 222070203 |  | 924000 | 300000 | SH |  | SOLE | 1 | 300000 | 0 | 0 |
| CREDICORP LTD | COM | G2519Y108 |  | 1942990 | 6770 | SH |  | SOLE | 1 | 6770 | 0 | 0 |
| CRH PLC | ORD | G25508105 |  | 17416819 | 139180 | SH |  | SOLE | 1 | 139180 | 0 | 0 |
| CROWDSTRIKE HLDGS INC | CL A | 22788C105 |  | 1775194 | 3787 | SH |  | SOLE | 2 | 3787 | 0 | 0 |
| CROWDSTRIKE HLDGS INC | CL A | 22788C105 |  | 301881 | 644 | SH |  | SOLE | 1 | 644 | 0 | 0 |
| D MARKET ELECTR SVCS  TRADI | SPONSORED ADS | 23292B104 |  | 372000 | 150000 | SH |  | SOLE | 2 | 150000 | 0 | 0 |
| D MARKET ELECTR SVCS  TRADI | SPONSORED ADS | 23292B104 |  | 744000 | 300000 | SH |  | SOLE | 1 | 300000 | 0 | 0 |
| DANAHER CORPORATION | COM | 235851102 |  | 2931092 | 12804 | SH |  | SOLE | 2 | 12804 | 0 | 0 |
| DANAHER CORPORATION | COM | 235851102 |  | 411369 | 1797 | SH |  | SOLE | 1 | 1797 | 0 | 0 |
| DARLING INGREDIENTS INC | COM | 237266101 |  | 807516 | 22431 | SH |  | SOLE | 2 | 22431 | 0 | 0 |
| DBX ETF TR | XTRACKERS MSCI | 233051150 |  | 6839056 | 107600 | SH |  | SOLE | 3 | 107600 | 0 | 0 |
| DEERE  CO | COM | 244199105 |  | 722099 | 1551 | SH |  | SOLE | 2 | 1551 | 0 | 0 |
| DELL TECHNOLOGIES INC | CL C | 24703L202 |  | 3102816 | 24649 | SH |  | SOLE | 2 | 24649 | 0 | 0 |
| DICKS SPORTING GOODS INC | COM | 253393102 |  | 313189 | 1582 | SH |  | SOLE | 1 | 1582 | 0 | 0 |
| DISNEY WALT CO | COM | 254687106 |  | 1777998 | 15628 | SH |  | SOLE | 1 | 15628 | 0 | 0 |
| DISNEY WALT CO | COM | 254687106 |  | 10079681 | 88597 | SH |  | SOLE | 2 | 88597 | 0 | 0 |
| DOW INC | COM | 260557103 |  | 1811342 | 77474 | SH |  | SOLE | 1 | 77474 | 0 | 0 |
| DUKE ENERGY CORP NEW | COM NEW | 26441C204 |  | 4638117 | 39571 | SH |  | SOLE | 2 | 39571 | 0 | 0 |
| DYNATRACE INC | COM NEW | 268150109 |  | 1061483 | 24492 | SH |  | SOLE | 2 | 24492 | 0 | 0 |
| EATON CORP PLC | SHS | G29183103 |  | 1555603 | 4884 | SH |  | SOLE | 1 | 4884 | 0 | 0 |
| EATON CORP PLC | SHS | G29183103 |  | 3550431 | 11147 | SH |  | SOLE | 2 | 11147 | 0 | 0 |
| ELECTRONIC ARTS INC | COM | 285512109 |  | 348383 | 1705 | SH |  | SOLE | 1 | 1705 | 0 | 0 |
| ELEVANCE HEALTH INC FORMERLY | COM | 036752103 |  | 3839224 | 10952 | SH |  | SOLE | 2 | 10952 | 0 | 0 |
| ELEVANCE HEALTH INC FORMERLY | COM | 036752103 |  | 329868 | 941 | SH |  | SOLE | 1 | 941 | 0 | 0 |
| ELI LILLY  CO | COM | 532457108 |  | 10443740 | 9718 | SH |  | SOLE | 1 | 9718 | 0 | 0 |
| ELI LILLY  CO | COM | 532457108 |  | 11265870 | 10483 | SH |  | SOLE | 2 | 10483 | 0 | 0 |
| EMCOR GROUP INC | COM | 29084Q100 |  | 707229 | 1156 | SH |  | SOLE | 2 | 1156 | 0 | 0 |
| EMERSON ELEC CO | COM | 291011104 |  | 9746824 | 73439 | SH |  | SOLE | 2 | 73439 | 0 | 0 |
| ENBRIDGE INC | COM | 29250N105 |  | 364157 | 7600 | SH |  | SOLE | 1 | 7600 | 0 | 0 |
| EOG RES INC | COM | 26875P101 |  | 6106542 | 58152 | SH |  | SOLE | 2 | 58152 | 0 | 0 |
| EQT CORP | COM | 26884L109 |  | 3441281 | 64203 | SH |  | SOLE | 2 | 64203 | 0 | 0 |
| EQUINIX INC | COM | 29444U700 |  | 1690915 | 2207 | SH |  | SOLE | 1 | 2207 | 0 | 0 |
| ERMENEGILDO ZEGNA N V | ORD SHS | N30577105 |  | 7246094 | 706936 | SH |  | SOLE | 1 | 706936 | 0 | 0 |
| ETF SER SOLUTIONS | US VEGAN CLIMATE | 26922A297 |  | 2208018 | 36340 | SH |  | SOLE | 3 | 36340 | 0 | 0 |
| EXPAND ENERGY CORPORATION | COM | 165167735 |  | 262657 | 2380 | SH |  | SOLE | 1 | 2380 | 0 | 0 |
| EXPAND ENERGY CORPORATION | COM | 165167735 |  | 4113779 | 37276 | SH |  | SOLE | 2 | 37276 | 0 | 0 |
| EXPEDIA GROUP INC | COM NEW | 30212P303 |  | 296909 | 1048 | SH |  | SOLE | 1 | 1048 | 0 | 0 |
| EXXON MOBIL CORP | COM | 30231G102 |  | 12352420 | 102646 | SH |  | SOLE | 2 | 102646 | 0 | 0 |
| EXXON MOBIL CORP | COM | 30231G102 |  | 2523650 | 20971 | SH |  | SOLE | 1 | 20971 | 0 | 0 |
| FAIR ISAAC CORP | COM | 303250104 |  | 887576 | 525 | SH |  | SOLE | 2 | 525 | 0 | 0 |
| FASTENAL CO | COM | 311900104 |  | 1956177 | 48746 | SH |  | SOLE | 2 | 48746 | 0 | 0 |
| FASTENAL CO | COM | 311900104 |  | 397006 | 9893 | SH |  | SOLE | 1 | 9893 | 0 | 0 |
| FERGUSON ENTERPRISES INC | COMMON STOCK NEW | 31488V107 |  | 1812876 | 8143 | SH |  | SOLE | 2 | 8143 | 0 | 0 |
| FERGUSON ENTERPRISES INC | COMMON STOCK NEW | 31488V107 |  | 256692 | 1153 | SH |  | SOLE | 1 | 1153 | 0 | 0 |
| FERRARI N V | COM | N3167Y103 |  | 13165905 | 35175 | SH |  | SOLE | 1 | 35175 | 0 | 0 |
| FISERV INC | COM | 337738108 |  | 5408058 | 80513 | SH |  | SOLE | 2 | 80513 | 0 | 0 |
| FORD MTR CO | COM | 345370860 |  | 1919915 | 146335 | SH |  | SOLE | 1 | 146335 | 0 | 0 |
| FORTIVE CORP | COM | 34959J108 |  | 498049 | 9021 | SH |  | SOLE | 1 | 9021 | 0 | 0 |
| FOX CORP | CL B COM | 35137L204 |  | 2597200 | 40000 | SH |  | SOLE | 1 | 40000 | 0 | 0 |
| FOX CORP | CL B COM | 35137L204 |  | 551905 | 8500 | SH |  | SOLE | 2 | 8500 | 0 | 0 |
| FREEPORT-MCMORAN INC | CL B | 35671D857 |  | 1625280 | 32000 | SH |  | SOLE | 1 | 32000 | 0 | 0 |
| FREEPORT-MCMORAN INC | CL B | 35671D857 |  | 507900 | 10000 | SH |  | SOLE | 2 | 10000 | 0 | 0 |
| FUBOTV INC | CLASS A COM SHS | 35953D104 |  | 378000 | 150000 | SH |  | SOLE | 1 | 150000 | 0 | 0 |
| FULL TRUCK ALLIANCE CO LTD | SPONSORED ADS | 35969L108 |  | 3258218 | 303655 | SH |  | SOLE | 1 | 303655 | 0 | 0 |
| FUTU HLDGS LTD | SPON ADS CL A | 36118L106 |  | 1806310 | 11000 | SH |  | SOLE | 1 | 11000 | 0 | 0 |
| FUTU HLDGS LTD | SPON ADS CL A | 36118L106 |  | 1642100 | 10000 | SH |  | SOLE | 2 | 10000 | 0 | 0 |
| GALLAGHER ARTHUR J  CO | COM | 363576109 |  | 1908317 | 7374 | SH |  | SOLE | 1 | 7374 | 0 | 0 |
| GALLAGHER ARTHUR J  CO | COM | 363576109 |  | 3245227 | 12540 | SH |  | SOLE | 2 | 12540 | 0 | 0 |
| GARMIN LTD | SHS | H2906T109 |  | 717075 | 3535 | SH |  | SOLE | 2 | 3535 | 0 | 0 |
| GE AEROSPACE | COM NEW | 369604301 |  | 1843252 | 5984 | SH |  | SOLE | 1 | 5984 | 0 | 0 |
| GE AEROSPACE | COM NEW | 369604301 |  | 4382035 | 14226 | SH |  | SOLE | 2 | 14226 | 0 | 0 |
| GE VERNOVA INC | COM | 36828A101 |  | 496060 | 759 | SH |  | SOLE | 1 | 759 | 0 | 0 |
| GENERAL MTRS CO | COM | 37045V100 |  | 2065935 | 25405 | SH |  | SOLE | 1 | 25405 | 0 | 0 |
| GILEAD SCIENCES INC | COM | 375558103 |  | 367729 | 2996 | SH |  | SOLE | 1 | 2996 | 0 | 0 |
| GOLDMAN SACHS GROUP INC | COM | 38141G104 |  | 3092322 | 3518 | SH |  | SOLE | 1 | 3518 | 0 | 0 |
| GRAB HOLDINGS LIMITED | CLASS A ORD | G4124C109 |  | 1665223 | 333712 | SH |  | SOLE | 1 | 333712 | 0 | 0 |
| HALEON PLC | SPON ADS | 405552100 |  | 6009475 | 594409 | SH |  | SOLE | 2 | 594409 | 0 | 0 |
| HCA HEALTHCARE INC | COM | 40412C101 |  | 243234 | 521 | SH |  | SOLE | 1 | 521 | 0 | 0 |
| HDFC BANK LTD | SPONSORED ADS | 40415F101 |  | 2574499 | 70457 | SH |  | SOLE | 1 | 70457 | 0 | 0 |
| HILTON WORLDWIDE HLDGS INC | COM | 43300A203 |  | 3543229 | 12335 | SH |  | SOLE | 2 | 12335 | 0 | 0 |
| HILTON WORLDWIDE HLDGS INC | COM | 43300A203 |  | 11425943 | 39777 | SH |  | SOLE | 1 | 39777 | 0 | 0 |
| HOME DEPOT INC | COM | 437076102 |  | 2661958 | 7736 | SH |  | SOLE | 1 | 7736 | 0 | 0 |
| HONEYWELL INTL INC | COM | 438516106 |  | 397789 | 2039 | SH |  | SOLE | 1 | 2039 | 0 | 0 |
| HOWMET AEROSPACE INC | COM | 443201108 |  | 217321 | 1060 | SH |  | SOLE | 1 | 1060 | 0 | 0 |
| HUNTINGTON BANCSHARES INC | COM | 446150104 |  | 7378816 | 425292 | SH |  | SOLE | 2 | 425292 | 0 | 0 |
| ICICI BANK LIMITED | ADR | 45104G104 |  | 1043000 | 35000 | SH |  | SOLE | 1 | 35000 | 0 | 0 |
| ICICI BANK LIMITED | ADR | 45104G104 |  | 1965310 | 65950 | SH |  | SOLE | 2 | 65950 | 0 | 0 |
| IDEXX LABS INC | COM | 45168D104 |  | 3475335 | 5137 | SH |  | SOLE | 2 | 5137 | 0 | 0 |
| INFOSYS LTD | SPONSORED ADR | 456788108 |  | 1158300 | 65000 | SH |  | SOLE | 1 | 65000 | 0 | 0 |
| INFOSYS LTD | SPONSORED ADR | 456788108 |  | 4450206 | 249731 | SH |  | SOLE | 2 | 249731 | 0 | 0 |
| INTEL CORP | COM | 458140100 |  | 353318 | 9575 | SH |  | SOLE | 1 | 9575 | 0 | 0 |
| INTERACTIVE BROKERS GROUP IN | COM CL A | 45841N107 |  | 805418 | 12524 | SH |  | SOLE | 2 | 12524 | 0 | 0 |
| INTERNATIONAL BUSINESS MACHS | COM | 459200101 |  | 1620861 | 5472 | SH |  | SOLE | 1 | 5472 | 0 | 0 |
| INTERNATIONAL BUSINESS MACHS | COM | 459200101 |  | 13497401 | 45567 | SH |  | SOLE | 2 | 45567 | 0 | 0 |
| INTUIT | COM | 461202103 |  | 5108583 | 7712 | SH |  | SOLE | 1 | 7712 | 0 | 0 |
| INTUIT | COM | 461202103 |  | 3437960 | 5190 | SH |  | SOLE | 2 | 5190 | 0 | 0 |
| INTUITIVE SURGICAL INC | COM NEW | 46120E602 |  | 441761 | 780 | SH |  | SOLE | 1 | 780 | 0 | 0 |
| INTUITIVE SURGICAL INC | COM NEW | 46120E602 |  | 4401750 | 7772 | SH |  | SOLE | 2 | 7772 | 0 | 0 |
| ISHARES INC | MSCI WORLD ETF | 464286392 |  | 25477869 | 137304 | SH |  | SOLE | 2 | 137304 | 0 | 0 |
| ISHARES INC | CORE MSCI EMKT | 46434G103 |  | 8113246 | 120685 | SH |  | SOLE | 2 | 120685 | 0 | 0 |
| ISHARES INC | MSCI ISRAEL ETF | 464286632 |  | 368115 | 3350 | SH |  | SOLE | 3 | 3350 | 0 | 0 |
| ISHARES TR | MSCI EURO FL ETF | 464289180 |  | 1891335 | 51000 | SH |  | SOLE | 3 | 51000 | 0 | 0 |
| ISHARES TR | U.S. FINLS ETF | 464287788 |  | 1505610 | 11680 | SH |  | SOLE | 3 | 11680 | 0 | 0 |
| ISHARES TR | MSCI INDIA ETF | 46429B598 |  | 1601042 | 29580 | SH |  | SOLE | 2 | 29580 | 0 | 0 |
| ISHARES TR | 7-10 YR TRSY BD | 464287440 |  | 6536012 | 68000 | SH |  | SOLE | 1 | 68000 | 0 | 0 |
| JOHNSON  JOHNSON | COM | 478160104 |  | 9366350 | 45259 | SH |  | SOLE | 2 | 45259 | 0 | 0 |
| JOHNSON  JOHNSON | COM | 478160104 |  | 2211468 | 10686 | SH |  | SOLE | 1 | 10686 | 0 | 0 |
| JPMORGAN CHASE  CO. | COM | 46625H100 |  | 6253968 | 19409 | SH |  | SOLE | 1 | 19409 | 0 | 0 |
| JPMORGAN CHASE  CO. | COM | 46625H100 |  | 11622798 | 36071 | SH |  | SOLE | 2 | 36071 | 0 | 0 |
| KARMAN HLDGS INC | COMMON STOCK | 485924104 |  | 1064477 | 14548 | SH |  | SOLE | 2 | 14548 | 0 | 0 |
| KASPI KZ JSC | SPONSORED ADS | 48581R205 |  | 390650 | 5000 | SH |  | SOLE | 2 | 5000 | 0 | 0 |
| KASPI KZ JSC | SPONSORED ADS | 48581R205 |  | 781300 | 10000 | SH |  | SOLE | 1 | 10000 | 0 | 0 |
| KEURIG DR PEPPER INC | COM | 49271V100 |  | 5283330 | 188623 | SH |  | SOLE | 2 | 188623 | 0 | 0 |
| KEURIG DR PEPPER INC | COM | 49271V100 |  | 417657 | 14911 | SH |  | SOLE | 1 | 14911 | 0 | 0 |
| KLA CORP | COM NEW | 482480100 |  | 1047399 | 862 | SH |  | SOLE | 2 | 862 | 0 | 0 |
| LEAR CORP | COM NEW | 521865204 |  | 2476850 | 21613 | SH |  | SOLE | 1 | 21613 | 0 | 0 |
| LEGGETT  PLATT INC | COM | 524660107 |  | 330000 | 30000 | SH |  | SOLE | 1 | 30000 | 0 | 0 |
| LEGGETT  PLATT INC | COM | 524660107 |  | 132000 | 12000 | SH |  | SOLE | 2 | 12000 | 0 | 0 |
| LINDE PLC | SHS | G54950103 |  | 1109467 | 2602 | SH |  | SOLE | 1 | 2602 | 0 | 0 |
| LINDE PLC | SHS | G54950103 |  | 7422943 | 17420 | SH |  | SOLE | 2 | 17420 | 0 | 0 |
| LIVE NATION ENTERTAINMENT IN | COM | 538034109 |  | 884783 | 6209 | SH |  | SOLE | 2 | 6209 | 0 | 0 |
| LOGITECH INTL S A | SHS | H50430232 |  | 14489367 | 140780 | SH |  | SOLE | 2 | 140780 | 0 | 0 |
| LOWES COS INC | COM | 548661107 |  | 464474 | 1926 | SH |  | SOLE | 1 | 1926 | 0 | 0 |
| LPL FINL HLDGS INC | COM | 50212V100 |  | 334668 | 937 | SH |  | SOLE | 1 | 937 | 0 | 0 |
| MARKEL GROUP INC | COM | 570535104 |  | 12010095 | 5587 | SH |  | SOLE | 2 | 5587 | 0 | 0 |
| MARRIOTT INTL INC NEW | CL A | 571903202 |  | 6595702 | 21260 | SH |  | SOLE | 1 | 21260 | 0 | 0 |
| MARTIN MARIETTA MATLS INC | COM | 573284106 |  | 719795 | 1156 | SH |  | SOLE | 1 | 1156 | 0 | 0 |
| MARVELL TECHNOLOGY INC | COM | 573874104 |  | 264798 | 3116 | SH |  | SOLE | 1 | 3116 | 0 | 0 |
| MASTERCARD INCORPORATED | CL A | 57636Q104 |  | 2954875 | 5176 | SH |  | SOLE | 1 | 5176 | 0 | 0 |
| MASTERCARD INCORPORATED | CL A | 57636Q104 |  | 13031478 | 22827 | SH |  | SOLE | 2 | 22827 | 0 | 0 |
| MCDONALDS CORP | COM | 580135101 |  | 425437 | 1392 | SH |  | SOLE | 1 | 1392 | 0 | 0 |
| MCKESSON CORP | COM | 58155Q103 |  | 1167273 | 1423 | SH |  | SOLE | 2 | 1423 | 0 | 0 |
| MEDTRONIC PLC | SHS | G5960L103 |  | 7161753 | 74555 | SH |  | SOLE | 2 | 74555 | 0 | 0 |
| MEDTRONIC PLC | SHS | G5960L103 |  | 273387 | 2846 | SH |  | SOLE | 1 | 2846 | 0 | 0 |
| MERCADOLIBRE INC | COM | 58733R102 |  | 6929054 | 3440 | SH |  | SOLE | 1 | 3440 | 0 | 0 |
| MERCK  CO INC | COM | 58933Y105 |  | 1706370 | 16211 | SH |  | SOLE | 1 | 16211 | 0 | 0 |
| MERCK  CO INC | COM | 58933Y105 |  | 12042165 | 114404 | SH |  | SOLE | 2 | 114404 | 0 | 0 |
| META PLATFORMS INC | CL A | 30303M102 |  | 12445337 | 18854 | SH |  | SOLE | 1 | 18854 | 0 | 0 |
| META PLATFORMS INC | CL A | 30303M102 |  | 31945716 | 48396 | SH |  | SOLE | 2 | 48396 | 0 | 0 |
| MICRON TECHNOLOGY INC | COM | 595112103 |  | 582522 | 2041 | SH |  | SOLE | 1 | 2041 | 0 | 0 |
| MICROSOFT CORP | COM | 594918104 |  | 40136591 | 82992 | SH |  | SOLE | 2 | 82992 | 0 | 0 |
| MICROSOFT CORP | COM | 594918104 |  | 42018356 | 86883 | SH |  | SOLE | 1 | 86883 | 0 | 0 |
| MOODYS CORP | COM | 615369105 |  | 400506 | 784 | SH |  | SOLE | 1 | 784 | 0 | 0 |
| MORGAN STANLEY | COM NEW | 617446448 |  | 2822727 | 15900 | SH |  | SOLE | 2 | 15900 | 0 | 0 |
| MORGAN STANLEY | COM NEW | 617446448 |  | 1816132 | 10230 | SH |  | SOLE | 1 | 10230 | 0 | 0 |
| MOTOROLA SOLUTIONS INC | COM NEW | 620076307 |  | 2316403 | 6043 | SH |  | SOLE | 2 | 6043 | 0 | 0 |
| NASDAQ INC | COM | 631103108 |  | 4110056 | 42315 | SH |  | SOLE | 2 | 42315 | 0 | 0 |
| NETEASE INC | SPONSORED ADS | 64110W102 |  | 1500471 | 10903 | SH |  | SOLE | 1 | 10903 | 0 | 0 |
| NETFLIX INC | COM | 64110L106 |  | 11030114 | 117642 | SH |  | SOLE | 2 | 117642 | 0 | 0 |
| NETFLIX INC | COM | 64110L106 |  | 2816175 | 30036 | SH |  | SOLE | 1 | 30036 | 0 | 0 |
| NEWS CORP NEW | CL A | 65249B109 |  | 522400 | 20000 | SH |  | SOLE | 1 | 20000 | 0 | 0 |
| NEXTERA ENERGY INC | COM | 65339F101 |  | 3613563 | 45012 | SH |  | SOLE | 2 | 45012 | 0 | 0 |
| NEXTERA ENERGY INC | COM | 65339F101 |  | 404370 | 5037 | SH |  | SOLE | 1 | 5037 | 0 | 0 |
| NIKE INC | CL B | 654106103 |  | 201451 | 3162 | SH |  | SOLE | 1 | 3162 | 0 | 0 |
| NIKE INC | CL B | 654106103 |  | 3985698 | 62560 | SH |  | SOLE | 2 | 62560 | 0 | 0 |
| NORFOLK SOUTHN CORP | COM | 655844108 |  | 1732320 | 6000 | SH |  | SOLE | 1 | 6000 | 0 | 0 |
| NORFOLK SOUTHN CORP | COM | 655844108 |  | 866160 | 3000 | SH |  | SOLE | 2 | 3000 | 0 | 0 |
| NORTHERN DYNASTY MINERALS LT | COM NEW | 66510M204 |  | 5648384 | 2867200 | SH |  | SOLE | 1 | 2867200 | 0 | 0 |
| NORTHERN DYNASTY MINERALS LT | COM NEW | 66510M204 |  | 1494836 | 758800 | SH |  | SOLE | 2 | 758800 | 0 | 0 |
| NVIDIA CORPORATION | COM | 67066G104 |  | 47276258 | 253492 | SH |  | SOLE | 1 | 253492 | 0 | 0 |
| NVIDIA CORPORATION | COM | 67066G104 |  | 29521272 | 158291 | SH |  | SOLE | 2 | 158291 | 0 | 0 |
| NXP SEMICONDUCTORS N V | COM | N6596X109 |  | 5540239 | 25524 | SH |  | SOLE | 2 | 25524 | 0 | 0 |
| OCCIDENTAL PETE CORP | COM | 674599105 |  | 259138 | 6302 | SH |  | SOLE | 1 | 6302 | 0 | 0 |
| ON HLDG AG | NAMEN AKT A | H5919C104 |  | 2598232 | 55900 | SH |  | SOLE | 1 | 55900 | 0 | 0 |
| ONESPAWORLD HOLDINGS LIMITED | COM | P73684113 |  | 6881532 | 331800 | SH |  | SOLE | 1 | 331800 | 0 | 0 |
| ORACLE CORP | COM | 68389X105 |  | 6083141 | 31210 | SH |  | SOLE | 1 | 31210 | 0 | 0 |
| ORACLE CORP | COM | 68389X105 |  | 7431139 | 38126 | SH |  | SOLE | 2 | 38126 | 0 | 0 |
| PAGSEGURO DIGITAL LTD | COM CL A | G68707101 |  | 289200 | 30000 | SH |  | SOLE | 1 | 30000 | 0 | 0 |
| PALANTIR TECHNOLOGIES INC | CL A | 69608A108 |  | 2324615 | 13078 | SH |  | SOLE | 1 | 13078 | 0 | 0 |
| PALO ALTO NETWORKS INC | COM | 697435105 |  | 2832443 | 15377 | SH |  | SOLE | 2 | 15377 | 0 | 0 |
| PALO ALTO NETWORKS INC | COM | 697435105 |  | 343349 | 1864 | SH |  | SOLE | 1 | 1864 | 0 | 0 |
| PDD HOLDINGS INC | SPONSORED ADS | 722304102 |  | 1723074 | 15196 | SH |  | SOLE | 2 | 15196 | 0 | 0 |
| PDD HOLDINGS INC | SPONSORED ADS | 722304102 |  | 793730 | 7000 | SH |  | SOLE | 1 | 7000 | 0 | 0 |
| PEPSICO INC | COM | 713448108 |  | 1758407 | 12252 | SH |  | SOLE | 1 | 12252 | 0 | 0 |
| PFIZER INC | COM | 717081103 |  | 273900 | 11000 | SH |  | SOLE | 1 | 11000 | 0 | 0 |
| PHILIP MORRIS INTL INC | COM | 718172109 |  | 1743227 | 10868 | SH |  | SOLE | 1 | 10868 | 0 | 0 |
| PROCTER AND GAMBLE CO | COM | 742718109 |  | 13359358 | 93220 | SH |  | SOLE | 2 | 93220 | 0 | 0 |
| PROCTER AND GAMBLE CO | COM | 742718109 |  | 2069970 | 14444 | SH |  | SOLE | 1 | 14444 | 0 | 0 |
| PROGRESSIVE CORP | COM | 743315103 |  | 5615803 | 24661 | SH |  | SOLE | 2 | 24661 | 0 | 0 |
| PTC INC | COM | 69370C100 |  | 1032543 | 5927 | SH |  | SOLE | 2 | 5927 | 0 | 0 |
| PUBLIC STORAGE OPER CO | COM | 74460D109 |  | 5884163 | 22675 | SH |  | SOLE | 2 | 22675 | 0 | 0 |
| PUBLIC SVC ENTERPRISE GRP IN | COM | 744573106 |  | 414750 | 5165 | SH |  | SOLE | 1 | 5165 | 0 | 0 |
| PUBLIC SVC ENTERPRISE GRP IN | COM | 744573106 |  | 1339966 | 16687 | SH |  | SOLE | 2 | 16687 | 0 | 0 |
| QUALCOMM INC | COM | 747525103 |  | 355100 | 2076 | SH |  | SOLE | 1 | 2076 | 0 | 0 |
| QUANTA SVCS INC | COM | 74762E102 |  | 972848 | 2305 | SH |  | SOLE | 2 | 2305 | 0 | 0 |
| RALPH LAUREN CORP | CL A | 751212101 |  | 11651450 | 32950 | SH |  | SOLE | 1 | 32950 | 0 | 0 |
| RAPID7 INC | COM | 753422104 |  | 608000 | 40000 | SH |  | SOLE | 1 | 40000 | 0 | 0 |
| REGENERON PHARMACEUTICALS | COM | 75886F107 |  | 297942 | 386 | SH |  | SOLE | 1 | 386 | 0 | 0 |
| REGIONS FINANCIAL CORP NEW | COM | 7591EP100 |  | 1853315 | 68388 | SH |  | SOLE | 1 | 68388 | 0 | 0 |
| RENEW ENERGY GLOBAL PLC | CL A SHS | G7500M104 |  | 565000 | 100000 | SH |  | SOLE | 1 | 100000 | 0 | 0 |
| REPUBLIC SVCS INC | COM | 760759100 |  | 1568282 | 7400 | SH |  | SOLE | 2 | 7400 | 0 | 0 |
| RINGCENTRAL INC | CL A | 76680R206 |  | 433200 | 15000 | SH |  | SOLE | 2 | 15000 | 0 | 0 |
| RINGCENTRAL INC | CL A | 76680R206 |  | 2166000 | 75000 | SH |  | SOLE | 1 | 75000 | 0 | 0 |
| RIO TINTO PLC | SPONSORED ADR | 767204100 |  | 240090 | 3000 | SH |  | SOLE | 1 | 3000 | 0 | 0 |
| ROSS STORES INC | COM | 778296103 |  | 337582 | 1874 | SH |  | SOLE | 1 | 1874 | 0 | 0 |
| ROYAL BK CDA | COM | 780087102 |  | 2919007 | 17100 | SH |  | SOLE | 1 | 17100 | 0 | 0 |
| ROYAL CARIBBEAN GROUP | COM | V7780T103 |  | 1051528 | 3770 | SH |  | SOLE | 2 | 3770 | 0 | 0 |
| ROYAL CARIBBEAN GROUP | COM | V7780T103 |  | 8950543 | 32090 | SH |  | SOLE | 1 | 32090 | 0 | 0 |
| RTX CORPORATION | COM | 75513E101 |  | 466570 | 2544 | SH |  | SOLE | 1 | 2544 | 0 | 0 |
| S GLOBAL INC | COM | 78409V104 |  | 2838709 | 5432 | SH |  | SOLE | 2 | 5432 | 0 | 0 |
| S GLOBAL INC | COM | 78409V104 |  | 1859898 | 3559 | SH |  | SOLE | 1 | 3559 | 0 | 0 |
| SALESFORCE INC | COM | 79466L302 |  | 2047224 | 7728 | SH |  | SOLE | 1 | 7728 | 0 | 0 |
| SCHWAB CHARLES CORP | COM | 808513105 |  | 8280841 | 82883 | SH |  | SOLE | 2 | 82883 | 0 | 0 |
| SCHWAB CHARLES CORP | COM | 808513105 |  | 432311 | 4327 | SH |  | SOLE | 1 | 4327 | 0 | 0 |
| SCRIPPS E W CO OHIO | CL A NEW | 811054402 |  | 319200 | 80000 | SH |  | SOLE | 1 | 80000 | 0 | 0 |
| SEA LTD | SPONSORD ADS | 81141R100 |  | 679565 | 5327 | SH |  | SOLE | 1 | 5327 | 0 | 0 |
| SEMPRA | COM | 816851109 |  | 1434713 | 16250 | SH |  | SOLE | 2 | 16250 | 0 | 0 |
| SERVICENOW INC | COM | 81762P102 |  | 2010619 | 13125 | SH |  | SOLE | 2 | 13125 | 0 | 0 |
| SERVICENOW INC | COM | 81762P102 |  | 5090197 | 33228 | SH |  | SOLE | 1 | 33228 | 0 | 0 |
| SHARKNINJA INC | COM SHS | G8068L108 |  | 5532672 | 49443 | SH |  | SOLE | 1 | 49443 | 0 | 0 |
| SHOPIFY INC | CL A SUB VTG SHS | 82509L107 |  | 419187 | 2600 | SH |  | SOLE | 1 | 2600 | 0 | 0 |
| SHOPIFY INC | CL A SUB VTG SHS | 82509L107 |  | 752052 | 4672 | SH |  | SOLE | 2 | 4672 | 0 | 0 |
| SHUTTERSTOCK INC | COM | 825690100 |  | 1088700 | 57000 | SH |  | SOLE | 1 | 57000 | 0 | 0 |
| SLB LIMITED | COM STK | 806857108 |  | 333254 | 8683 | SH |  | SOLE | 1 | 8683 | 0 | 0 |
| SMURFIT WESTROCK PLC | SHS | G8267P108 |  | 8624236 | 223331 | SH |  | SOLE | 1 | 223331 | 0 | 0 |
| SNOWFLAKE INC | COM SHS | 833445109 |  | 236689 | 1079 | SH |  | SOLE | 1 | 1079 | 0 | 0 |
| SNOWFLAKE INC | COM SHS | 833445109 |  | 2736297 | 12474 | SH |  | SOLE | 2 | 12474 | 0 | 0 |
| SOFI TECHNOLOGIES INC | COM | 83406F102 |  | 202712 | 7743 | SH |  | SOLE | 1 | 7743 | 0 | 0 |
| SOUTHERN CO | COM | 842587107 |  | 4746558 | 54433 | SH |  | SOLE | 2 | 54433 | 0 | 0 |
| SPDR SERIES TRUST | STATE STREET SPD | 78468R531 |  | 10015580 | 151430 | SH |  | SOLE | 3 | 151430 | 0 | 0 |
| SPOTIFY TECHNOLOGY S A | SHS | L8681T102 |  | 2157918 | 3716 | SH |  | SOLE | 2 | 3716 | 0 | 0 |
| STAAR SURGICAL CO | COM PAR $0.01 | 852312305 |  | 230900 | 10000 | SH |  | SOLE | 2 | 10000 | 0 | 0 |
| STAAR SURGICAL CO | COM PAR $0.01 | 852312305 |  | 595722 | 25800 | SH |  | SOLE | 1 | 25800 | 0 | 0 |
| STARBUCKS CORP | COM | 855244109 |  | 329766 | 3916 | SH |  | SOLE | 1 | 3916 | 0 | 0 |
| STRYKER CORPORATION | COM | 863667101 |  | 5001770 | 14231 | SH |  | SOLE | 2 | 14231 | 0 | 0 |
| SYNOPSYS INC | COM | 871607107 |  | 397853 | 847 | SH |  | SOLE | 1 | 847 | 0 | 0 |
| SYSCO CORP | COM | 871829107 |  | 1186999 | 16108 | SH |  | SOLE | 2 | 16108 | 0 | 0 |
| TAIWAN SEMICONDUCTOR MFG LTD | SPONSORED ADS | 874039100 |  | 9010035 | 29649 | SH |  | SOLE | 1 | 29649 | 0 | 0 |
| TAIWAN SEMICONDUCTOR MFG LTD | SPONSORED ADS | 874039100 |  | 4450773 | 14646 | SH |  | SOLE | 2 | 14646 | 0 | 0 |
| TAKE-TWO INTERACTIVE SOFTWAR | COM | 874054109 |  | 384557 | 1502 | SH |  | SOLE | 1 | 1502 | 0 | 0 |
| TAPESTRY INC | COM | 876030107 |  | 12291474 | 96200 | SH |  | SOLE | 1 | 96200 | 0 | 0 |
| TC ENERGY CORP | COM | 87807B107 |  | 286716 | 5200 | SH |  | SOLE | 1 | 5200 | 0 | 0 |
| TE CONNECTIVITY PLC | ORD SHS | G87052109 |  | 5050950 | 22201 | SH |  | SOLE | 2 | 22201 | 0 | 0 |
| TENCENT MUSIC ENTMT GROUP | SPON ADS | 88034P109 |  | 385660 | 22000 | SH |  | SOLE | 2 | 22000 | 0 | 0 |
| TENCENT MUSIC ENTMT GROUP | SPON ADS | 88034P109 |  | 560960 | 32000 | SH |  | SOLE | 1 | 32000 | 0 | 0 |
| TERADYNE INC | COM | 880770102 |  | 1395568 | 7210 | SH |  | SOLE | 2 | 7210 | 0 | 0 |
| TEXAS INSTRS INC | COM | 882508104 |  | 438930 | 2530 | SH |  | SOLE | 1 | 2530 | 0 | 0 |
| THERMO FISHER SCIENTIFIC INC | COM | 883556102 |  | 1718069 | 2965 | SH |  | SOLE | 1 | 2965 | 0 | 0 |
| TIM S A | SPONSORED ADR | 88706T108 |  | 972500 | 50000 | SH |  | SOLE | 1 | 50000 | 0 | 0 |
| TJX COS INC NEW | COM | 872540109 |  | 471583 | 3070 | SH |  | SOLE | 1 | 3070 | 0 | 0 |
| TOAST INC | CL A | 888787108 |  | 572812 | 16131 | SH |  | SOLE | 2 | 16131 | 0 | 0 |
| TORONTO DOMINION BK ONT | COM NEW | 891160509 |  | 2274358 | 24100 | SH |  | SOLE | 1 | 24100 | 0 | 0 |
| TOTALENERGIES SE | ACT | F92124100 |  | 12717125 | 194786 | SH |  | SOLE | 1 | 194786 | 0 | 0 |
| TOWER SEMICONDUCTOR LTD | SHS NEW | M87915274 |  | 1531626 | 13044 | SH |  | SOLE | 2 | 13044 | 0 | 0 |
| TRADEWEB MKTS INC | CL A | 892672106 |  | 350688 | 3261 | SH |  | SOLE | 1 | 3261 | 0 | 0 |
| TRADEWEB MKTS INC | CL A | 892672106 |  | 665995 | 6193 | SH |  | SOLE | 2 | 6193 | 0 | 0 |
| TRANE TECHNOLOGIES PLC | SHS | G8994E103 |  | 371686 | 955 | SH |  | SOLE | 1 | 955 | 0 | 0 |
| TRIP COM GROUP LTD | ADS | 89677Q107 |  | 2302846 | 32024 | SH |  | SOLE | 1 | 32024 | 0 | 0 |
| TRUECAR INC | COM | 89785L107 |  | 452000 | 200000 | SH |  | SOLE | 1 | 200000 | 0 | 0 |
| TRUECAR INC | COM | 89785L107 |  | 101700 | 45000 | SH |  | SOLE | 2 | 45000 | 0 | 0 |
| UBER TECHNOLOGIES INC | COM | 90353T100 |  | 399725 | 4892 | SH |  | SOLE | 1 | 4892 | 0 | 0 |
| UBER TECHNOLOGIES INC | COM | 90353T100 |  | 3631601 | 44445 | SH |  | SOLE | 2 | 44445 | 0 | 0 |
| UBS GROUP AG | SHS | H42097107 |  | 46417701 | 994979 | SH |  | SOLE | 2 | 994979 | 0 | 0 |
| UBS GROUP AG | SHS | H42097107 |  | 1183653 | 25372 | SH |  | SOLE | 1 | 25372 | 0 | 0 |
| UNION PAC CORP | COM | 907818108 |  | 2257221 | 9758 | SH |  | SOLE | 1 | 9758 | 0 | 0 |
| UNITED PARCEL SERVICE INC | CL B | 911312106 |  | 4516914 | 45538 | SH |  | SOLE | 2 | 45538 | 0 | 0 |
| UNITED RENTALS INC | COM | 911363109 |  | 292974 | 362 | SH |  | SOLE | 1 | 362 | 0 | 0 |
| UNITED STATES ANTIMONY CORP | COM | 911549103 |  | 1004000 | 200000 | SH |  | SOLE | 1 | 200000 | 0 | 0 |
| UNITEDHEALTH GROUP INC | COM | 91324P102 |  | 6045635 | 18314 | SH |  | SOLE | 1 | 18314 | 0 | 0 |
| UNITEDHEALTH GROUP INC | COM | 91324P102 |  | 2287992 | 6931 | SH |  | SOLE | 2 | 6931 | 0 | 0 |
| US BANCORP DEL | COM NEW | 902973304 |  | 4954529 | 92851 | SH |  | SOLE | 2 | 92851 | 0 | 0 |
| VALERO ENERGY CORP | COM | 91913Y100 |  | 213255 | 1310 | SH |  | SOLE | 1 | 1310 | 0 | 0 |
| VANGUARD INDEX FDS | S 500 ETF SHS | 922908363 |  | 13951195 | 22250 | SH |  | SOLE | 2 | 22250 | 0 | 0 |
| VANGUARD INTL EQUITY INDEX F | FTSE EMR MKT ETF | 922042858 |  | 1662840 | 31000 | SH |  | SOLE | 2 | 31000 | 0 | 0 |
| VERIZON COMMUNICATIONS INC | COM | 92343V104 |  | 8180906 | 200857 | SH |  | SOLE | 2 | 200857 | 0 | 0 |
| VERTEX PHARMACEUTICALS INC | COM | 92532F100 |  | 4330495 | 9552 | SH |  | SOLE | 2 | 9552 | 0 | 0 |
| VERTIV HOLDINGS CO | COM CL A | 92537N108 |  | 695185 | 4291 | SH |  | SOLE | 2 | 4291 | 0 | 0 |
| VIKING HOLDINGS LTD | ORD SHS | G93A5A101 |  | 11718452 | 164101 | SH |  | SOLE | 1 | 164101 | 0 | 0 |
| VISA INC | COM CL A | 92826C839 |  | 13240705 | 37754 | SH |  | SOLE | 1 | 37754 | 0 | 0 |
| VISA INC | COM CL A | 92826C839 |  | 18346692 | 52313 | SH |  | SOLE | 2 | 52313 | 0 | 0 |
| VISTRA CORP | COM | 92840M102 |  | 255547 | 1584 | SH |  | SOLE | 1 | 1584 | 0 | 0 |
| VISTRA CORP | COM | 92840M102 |  | 642577 | 3983 | SH |  | SOLE | 2 | 3983 | 0 | 0 |
| VS TRUST | 2X LONG VIX FUTU | 92891H606 |  | 455776 | 80000 | SH |  | SOLE | 1 | 80000 | 0 | 0 |
| WALMART INC | COM | 931142103 |  | 5680127 | 50984 | SH |  | SOLE | 2 | 50984 | 0 | 0 |
| WALMART INC | COM | 931142103 |  | 3263310 | 29291 | SH |  | SOLE | 1 | 29291 | 0 | 0 |
| WATERS CORP | COM | 941848103 |  | 998573 | 2629 | SH |  | SOLE | 2 | 2629 | 0 | 0 |
| WELLS FARGO CO NEW | COM | 949746101 |  | 2120020 | 22747 | SH |  | SOLE | 1 | 22747 | 0 | 0 |
| WELLS FARGO CO NEW | COM | 949746101 |  | 11001794 | 118045 | SH |  | SOLE | 2 | 118045 | 0 | 0 |
| WELLTOWER INC | COM | 95040Q104 |  | 1648031 | 8879 | SH |  | SOLE | 1 | 8879 | 0 | 0 |
| WILLIAMS COS INC | COM | 969457100 |  | 310468 | 5165 | SH |  | SOLE | 1 | 5165 | 0 | 0 |
| WIPRO LTD | SPON ADR 1 SH | 97651M109 |  | 1079200 | 380000 | SH |  | SOLE | 1 | 380000 | 0 | 0 |
| WYNN RESORTS LTD | COM | 983134107 |  | 6447281 | 53580 | SH |  | SOLE | 1 | 53580 | 0 | 0 |
| XP INC | CL A | G98239109 |  | 4069828 | 248615 | SH |  | SOLE | 1 | 248615 | 0 | 0 |
| ZOETIS INC | CL A | 98978V103 |  | 1057140 | 8402 | SH |  | SOLE | 2 | 8402 | 0 | 0 |

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