# EDGAR Filing Document

**Accession Number:** 0001397424
**File Stem:** 0001397424-25-000008
**Filing Date:** 2025-8
**Character Count:** 43934
**Document Hash:** 84a666f826bdab61a5ab00f41ce5da49
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001397424-25-000008.hdr.sgml**: 20250811

**ACCESSION NUMBER**: 0001397424-25-000008

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

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250811

**DATE AS OF CHANGE**: 20250811

**EFFECTIVENESS DATE**: 20250811

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** WBI INVESTMENTS, LLC
- **CENTRAL INDEX KEY:** 0001397424

**ORGANIZATION NAME:**
- **EIN:** 922175746
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-12525
- **FILM NUMBER:** 251200994

**BUSINESS ADDRESS:**
- **STREET 1:** 331 NEWMAN SPRINGS ROAD
- **STREET 2:** SUITE 105
- **CITY:** RED BANK
- **STATE:** NJ
- **ZIP:** 07701
- **BUSINESS PHONE:** 732-842-4920

**MAIL ADDRESS:**
- **STREET 1:** 331 NEWMAN SPRINGS ROAD
- **STREET 2:** SUITE 143
- **CITY:** RED BANK
- **STATE:** NJ
- **ZIP:** 07701

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** WBI INVESTMENTS, INC.
- **DATE OF NAME CHANGE:** 20150212

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** WBI INVESTMENTS
- **DATE OF NAME CHANGE:** 20100211

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Wealth Builders
- **DATE OF NAME CHANGE:** 20070424

### 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:** WBI INVESTMENTS LLC<br>**Address:** 331 NEWMAN SPRINGS ROAD<br>SUITE 143<br>RED BANK, NJ 07701

**Form 13F File Number:** 028-12525

**CRD Number (if applicable):** 000106336

**SEC File Number (if applicable):** 801-22873

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:** Don Schreiber Jr<br>**Title:** Chief Compliance Officer<br>**Phone:** 7328424920

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

Don Schreiber Jr  Red Bank, NJ  08-11-2025<br>[Signature]  [City, State]  [Date]

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

[x] **13F HOLDINGS REPORT.** (Check here if all holdings of this reporting manager are reported in this report.)

[ ] **13F NOTICE.** (Check here if no holdings are reported in this report, and all holdings are reported by other reporting manager(s).)

[ ] **13F COMBINATION REPORT.** (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).)

### Form 13F Summary Page

**Report Summary:**

**Number of Other Included Managers:** 1

**Form 13F Information Table Entry Total:** 415

**Form 13F Information Table Value Total:** $385288998

      (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   |
|:---|:---|:---|
|  | MILLINGTON SECURITIES LLC | 028-16338              |

### 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 |
| ADT INC DEL | COM | 00090Q103 |  | 641789 | 75772 | SH |  | DFND | 1 | 0 | 75772 | 0 |
| ADT INC DEL | COM | 00090Q103 |  | 353013 | 41678 | SH |  | SOLE |  | 41678 | 0 | 0 |
| AES CORP | COM | 00130H105 |  | 2622710 | 249307 | SH |  | DFND | 1 | 0 | 249307 | 0 |
| ALPS ETF TR | ALERIAN MLP | 00162Q452 |  | 523843 | 10721 | SH |  | SOLE |  | 10721 | 0 | 0 |
| AT INC | COM | 00206R102 |  | 440148 | 15209 | SH |  | DFND | 1 | 0 | 15209 | 0 |
| AT INC | COM | 00206R102 |  | 493138 | 17040 | SH |  | SOLE |  | 17040 | 0 | 0 |
| ABBVIE INC | COM | 00287Y109 |  | 327991 | 1767 | SH |  | DFND | 1 | 0 | 1767 | 0 |
| ABBVIE INC | COM | 00287Y109 |  | 207807 | 1120 | SH |  | SOLE |  | 1120 | 0 | 0 |
| ABSOLUTE SHS TR | WBI BBR VAL 3000 | 00400R601 |  | 18162965 | 631156 | SH |  | SOLE |  | 631156 | 0 | 0 |
| ABSOLUTE SHS TR | WBI BBR YLD 3000 | 00400R700 |  | 21139924 | 964848 | SH |  | SOLE |  | 964848 | 0 | 0 |
| ABSOLUTE SHS TR | WBI BBR QTY 3000 | 00400R809 |  | 21242629 | 652922 | SH |  | SOLE |  | 652922 | 0 | 0 |
| ABSOLUTE SHS TR | WBI PWR FCTR ETF | 00400R858 |  | 24188537 | 826826 | SH |  | SOLE |  | 826826 | 0 | 0 |
| ACUITY INC | COM | 00508Y102 |  | 316539 | 1061 | SH |  | DFND | 1 | 0 | 1061 | 0 |
| ACUITY INC | COM | 00508Y102 |  | 360395 | 1208 | SH |  | SOLE |  | 1208 | 0 | 0 |
| ALLSTATE CORP | COM | 020002101 |  | 302972 | 1505 | SH |  | DFND | 1 | 0 | 1505 | 0 |
| ALLSTATE CORP | COM | 020002101 |  | 224865 | 1117 | SH |  | SOLE |  | 1117 | 0 | 0 |
| ALPHABET INC | CAP STK CL A | 02079K305 |  | 1548357 | 8786 | SH |  | DFND | 1 | 0 | 8786 | 0 |
| ALPHABET INC | CAP STK CL A | 02079K305 |  | 394103 | 2236 | SH |  | SOLE |  | 2236 | 0 | 0 |
| ALTRIA GROUP INC | COM | 02209s103 |  | 2548470 | 43467 | SH |  | DFND | 1 | 0 | 43467 | 0 |
| AMAZON COM INC | COM | 023135106 |  | 1580705 | 7205 | SH |  | DFND | 1 | 0 | 7205 | 0 |
| AMAZON COM INC | COM | 023135106 |  | 546049 | 2489 | SH |  | SOLE |  | 2489 | 0 | 0 |
| AMERICAN EXPRESS CO | COM | 025816109 |  | 565871 | 1774 | SH |  | DFND | 1 | 0 | 1774 | 0 |
| AMERICAN EXPRESS CO | COM | 025816109 |  | 403883 | 1266 | SH |  | SOLE |  | 1266 | 0 | 0 |
| CENCORA INC | COM | 03073E105 |  | 704048 | 2348 | SH |  | DFND | 1 | 0 | 2348 | 0 |
| CENCORA INC | COM | 03073E105 |  | 443286 | 1478 | SH |  | SOLE |  | 1478 | 0 | 0 |
| AMERIPRISE FINL INC | COM | 03076C106 |  | 771240 | 1445 | SH |  | DFND | 1 | 0 | 1445 | 0 |
| AMERIPRISE FINL INC | COM | 03076C106 |  | 746053 | 1398 | SH |  | SOLE |  | 1398 | 0 | 0 |
| AMETEK INC | COM | 031100100 |  | 326633 | 1805 | SH |  | DFND | 1 | 0 | 1805 | 0 |
| AMETEK INC | COM | 031100100 |  | 205856 | 1138 | SH |  | SOLE |  | 1138 | 0 | 0 |
| AMGEN INC | COM | 031162100 |  | 211362 | 757 | SH |  | DFND | 1 | 0 | 757 | 0 |
| AMGEN INC | COM | 031162100 |  | 39193 | 140 | SH |  | SOLE |  | 140 | 0 | 0 |
| ANGEL OAK FUNDS TRUST | HIGH YIELD OPPOR | 03463K745 |  | 1201645 | 107916 | SH |  | DFND | 1 | 0 | 107916 | 0 |
| ANGEL OAK FUNDS TRUST | HIGH YIELD OPPOR | 03463K745 |  | 883195 | 79317 | SH |  | SOLE |  | 79317 | 0 | 0 |
| ANSYS INC | COM | 03662Q105 |  | 677855 | 1930 | SH |  | DFND | 1 | 0 | 1930 | 0 |
| ANSYS INC | COM | 03662Q105 |  | 421987 | 1201 | SH |  | SOLE |  | 1201 | 0 | 0 |
| APA CORPORATION | COM | 03743Q108 |  | 2885028 | 157738 | SH |  | DFND | 1 | 0 | 157738 | 0 |
| APA CORPORATION | COM | 03743Q108 |  | 511041 | 27941 | SH |  | SOLE |  | 27941 | 0 | 0 |
| APPLE INC | COM | 037833100 |  | 1434754 | 6993 | SH |  | DFND | 1 | 0 | 6993 | 0 |
| APPLE INC | COM | 037833100 |  | 1097895 | 5351 | SH |  | SOLE |  | 5351 | 0 | 0 |
| APPLIED INDL TECHNOLOGIES IN | COM | 03820c105 |  | 223849 | 963 | SH |  | DFND | 1 | 0 | 963 | 0 |
| APPLIED MATLS INC | COM | 038222105 |  | 993704 | 5428 | SH |  | DFND | 1 | 0 | 5428 | 0 |
| APPLIED MATLS INC | COM | 038222105 |  | 1227506 | 6705 | SH |  | SOLE |  | 6705 | 0 | 0 |
| ARES MANAGEMENT CORPORATION | CL A COM STK | 03990B101 |  | 733675 | 4236 | SH |  | DFND | 1 | 0 | 4236 | 0 |
| ARES MANAGEMENT CORPORATION | CL A COM STK | 03990B101 |  | 346944 | 2003 | SH |  | SOLE |  | 2003 | 0 | 0 |
| ARTISAN PARTNERS ASSET MGMT | CL A | 04316a108 |  | 454781 | 10259 | SH |  | DFND | 1 | 0 | 10259 | 0 |
| ASSURANT INC | COM | 04621X108 |  | 219609 | 1112 | SH |  | DFND | 1 | 0 | 1112 | 0 |
| ASSURANT INC | COM | 04621X108 |  | 5399 | 27 | SH |  | SOLE |  | 27 | 0 | 0 |
| ATLANTIC UN BANKSHARES CORP | COM | 04911A107 |  | 914909 | 29249 | SH |  | DFND | 1 | 0 | 29249 | 0 |
| AUTOMATIC DATA PROCESSING IN | COM | 053015103 |  | 400920 | 1300 | SH |  | DFND | 1 | 0 | 1300 | 0 |
| AUTOMATIC DATA PROCESSING IN | COM | 053015103 |  | 341254 | 1107 | SH |  | SOLE |  | 1107 | 0 | 0 |
| AVERY DENNISON CORP | COM | 053611109 |  | 210564 | 1200 | SH |  | DFND | 1 | 0 | 1200 | 0 |
| AVERY DENNISON CORP | COM | 053611109 |  | 5190 | 30 | SH |  | SOLE |  | 30 | 0 | 0 |
| BERKLEY W R CORP | COM | 084423102 |  | 1686871 | 22960 | SH |  | DFND | 1 | 0 | 22960 | 0 |
| BERKLEY W R CORP | COM | 084423102 |  | 1329385 | 18094 | SH |  | SOLE |  | 18094 | 0 | 0 |
| BEST BUY INC | COM | 086516101 |  | 2572959 | 38328 | SH |  | DFND | 1 | 0 | 38328 | 0 |
| BLACKSTONE INC | COM | 09260D107 |  | 540433 | 3613 | SH |  | DFND | 1 | 0 | 3613 | 0 |
| BLACKSTONE INC | COM | 09260D107 |  | 209853 | 1403 | SH |  | SOLE |  | 1403 | 0 | 0 |
| BLOCK H  R INC | COM | 093671105 |  | 515746 | 9396 | SH |  | DFND | 1 | 0 | 9396 | 0 |
| BLOCK H  R INC | COM | 093671105 |  | 524803 | 9561 | SH |  | SOLE |  | 9561 | 0 | 0 |
| BOYD GAMING CORP | COM | 103304101 |  | 232421 | 2971 | SH |  | DFND | 1 | 0 | 2971 | 0 |
| BOYD GAMING CORP | COM | 103304101 |  | 5385 | 69 | SH |  | SOLE |  | 69 | 0 | 0 |
| BRISTOL-MYERS SQUIBB CO | COM | 110122108 |  | 437163 | 9444 | SH |  | DFND | 1 | 0 | 9444 | 0 |
| BRISTOL-MYERS SQUIBB CO | COM | 110122108 |  | 468547 | 10122 | SH |  | SOLE |  | 10122 | 0 | 0 |
| BROADRIDGE FINL SOLUTIONS IN | COM | 11133T103 |  | 527132 | 2169 | SH |  | DFND | 1 | 0 | 2169 | 0 |
| BROADRIDGE FINL SOLUTIONS IN | COM | 11133T103 |  | 265381 | 1092 | SH |  | SOLE |  | 1092 | 0 | 0 |
| CBOE GLOBAL MKTS INC | COM | 12503M108 |  | 446830 | 1916 | SH |  | DFND | 1 | 0 | 1916 | 0 |
| CBOE GLOBAL MKTS INC | COM | 12503M108 |  | 410235 | 1759 | SH |  | SOLE |  | 1759 | 0 | 0 |
| CF INDS HLDGS INC | COM | 125269100 |  | 503332 | 5471 | SH |  | DFND | 1 | 0 | 5471 | 0 |
| CF INDS HLDGS INC | COM | 125269100 |  | 361100 | 3925 | SH |  | SOLE |  | 3925 | 0 | 0 |
| CVS HEALTH CORP | COM | 126650100 |  | 492931 | 7146 | SH |  | DFND | 1 | 0 | 7146 | 0 |
| CVS HEALTH CORP | COM | 126650100 |  | 524179 | 7599 | SH |  | SOLE |  | 7599 | 0 | 0 |
| CAL MAINE FOODS INC | COM NEW | 128030202 |  | 325790 | 3270 | SH |  | DFND | 1 | 0 | 3270 | 0 |
| CARDINAL HEALTH INC | COM | 14149Y108 |  | 750288 | 4466 | SH |  | DFND | 1 | 0 | 4466 | 0 |
| CARDINAL HEALTH INC | COM | 14149Y108 |  | 477799 | 2844 | SH |  | SOLE |  | 2844 | 0 | 0 |
| CARLISLE COS INC | COM | 142339100 |  | 515292 | 1380 | SH |  | DFND | 1 | 0 | 1380 | 0 |
| CARLISLE COS INC | COM | 142339100 |  | 304504 | 815 | SH |  | SOLE |  | 815 | 0 | 0 |
| CHARTER COMMUNICATIONS INC N | CL A | 16119P108 |  | 803312 | 1965 | SH |  | DFND | 1 | 0 | 1965 | 0 |
| CHARTER COMMUNICATIONS INC N | CL A | 16119P108 |  | 618497 | 1513 | SH |  | SOLE |  | 1513 | 0 | 0 |
| CHENIERE ENERGY INC | COM NEW | 16411R208 |  | 457818 | 1880 | SH |  | DFND | 1 | 0 | 1880 | 0 |
| CHENIERE ENERGY INC | COM NEW | 16411R208 |  | 383016 | 1573 | SH |  | SOLE |  | 1573 | 0 | 0 |
| CHEVRON CORP NEW | COM | 166764100 |  | 754182 | 5267 | SH |  | DFND | 1 | 0 | 5267 | 0 |
| CISCO SYS INC | COM | 17275R102 |  | 754646 | 10877 | SH |  | DFND | 1 | 0 | 10877 | 0 |
| CISCO SYS INC | COM | 17275R102 |  | 734129 | 10581 | SH |  | SOLE |  | 10581 | 0 | 0 |
| CINTAS CORP | COM | 172908105 |  | 316030 | 1418 | SH |  | DFND | 1 | 0 | 1418 | 0 |
| CINTAS CORP | COM | 172908105 |  | 56861 | 255 | SH |  | SOLE |  | 255 | 0 | 0 |
| CITIZENS FINL GROUP INC | COM | 174610105 |  | 788898 | 17629 | SH |  | DFND | 1 | 0 | 17629 | 0 |
| CLEARWAY ENERGY INC | CL C | 18539c204 |  | 547040 | 17095 | SH |  | DFND | 1 | 0 | 17095 | 0 |
| COLUMBIA BKG SYS INC | COM | 197236102 |  | 660929 | 28269 | SH |  | DFND | 1 | 0 | 28269 | 0 |
| COMFORT SYS USA INC | COM | 199908104 |  | 1145345 | 2136 | SH |  | DFND | 1 | 0 | 2136 | 0 |
| COMFORT SYS USA INC | COM | 199908104 |  | 1376038 | 2566 | SH |  | SOLE |  | 2566 | 0 | 0 |
| COMCAST CORP NEW | CL A | 20030n101 |  | 424782 | 11902 | SH |  | DFND | 1 | 0 | 11902 | 0 |
| COMCAST CORP NEW | CL A | 20030n101 |  | 477980 | 13393 | SH |  | SOLE |  | 13393 | 0 | 0 |
| COMERICA INC | COM | 200340107 |  | 797222 | 13365 | SH |  | DFND | 1 | 0 | 13365 | 0 |
| CONAGRA BRANDS INC | COM | 205887102 |  | 1060387 | 51802 | SH |  | DFND | 1 | 0 | 51802 | 0 |
| CONOCOPHILLIPS | COM | 20825C104 |  | 211697 | 2359 | SH |  | DFND | 1 | 0 | 2359 | 0 |
| CONOCOPHILLIPS | COM | 20825C104 |  | 36524 | 407 | SH |  | SOLE |  | 407 | 0 | 0 |
| CONSTELLATION BRANDS INC | CL A | 21036P108 |  | 376767 | 2316 | SH |  | DFND | 1 | 0 | 2316 | 0 |
| CONSTELLATION BRANDS INC | CL A | 21036P108 |  | 315755 | 1941 | SH |  | SOLE |  | 1941 | 0 | 0 |
| COPART INC | COM | 217204106 |  | 338226 | 6893 | SH |  | SOLE |  | 6893 | 0 | 0 |
| COSTCO WHSL CORP NEW | COM | 22160k105 |  | 131662 | 133 | SH |  | DFND | 1 | 0 | 133 | 0 |
| COSTCO WHSL CORP NEW | COM | 22160k105 |  | 69009 | 70 | SH |  | SOLE |  | 70 | 0 | 0 |
| DBX ETF TR | XTRACK USD HIGH | 233051432 |  | 1246973 | 33775 | SH |  | SOLE |  | 33775 | 0 | 0 |
| DTE ENERGY CO | COM | 233331107 |  | 966296 | 7295 | SH |  | DFND | 1 | 0 | 7295 | 0 |
| DTE ENERGY CO | COM | 233331107 |  | 1150390 | 8685 | SH |  | SOLE |  | 8685 | 0 | 0 |
| DIAMONDBACK ENERGY INC | COM | 25278X109 |  | 1001921 | 7292 | SH |  | DFND | 1 | 0 | 7292 | 0 |
| DIAMONDBACK ENERGY INC | COM | 25278X109 |  | 1186145 | 8633 | SH |  | SOLE |  | 8633 | 0 | 0 |
| DICKS SPORTING GOODS INC | COM | 253393102 |  | 602529 | 3046 | SH |  | DFND | 1 | 0 | 3046 | 0 |
| DICKS SPORTING GOODS INC | COM | 253393102 |  | 371649 | 1879 | SH |  | SOLE |  | 1879 | 0 | 0 |
| DINE BRANDS GLOBAL INC | COM | 254423106 |  | 363977 | 14960 | SH |  | DFND | 1 | 0 | 14960 | 0 |
| DIREXION SHS ETF TR | AUSPCE CMD STG | 25460E307 |  | 6725076 | 243134 | SH |  | SOLE |  | 243134 | 0 | 0 |
| DOMINION ENERGY INC | COM | 25746U109 |  | 728091 | 12882 | SH |  | DFND | 1 | 0 | 12882 | 0 |
| EOG RES INC | COM | 26875P101 |  | 220800 | 1846 | SH |  | DFND | 1 | 0 | 1846 | 0 |
| EOG RES INC | COM | 26875P101 |  | 38634 | 323 | SH |  | SOLE |  | 323 | 0 | 0 |
| EAGLE MATLS INC | COM | 26969P108 |  | 507296 | 2510 | SH |  | DFND | 1 | 0 | 2510 | 0 |
| EAGLE MATLS INC | COM | 26969P108 |  | 293951 | 1454 | SH |  | SOLE |  | 1454 | 0 | 0 |
| EBAY INC. | COM | 278642103 |  | 772523 | 10375 | SH |  | DFND | 1 | 0 | 10375 | 0 |
| EBAY INC. | COM | 278642103 |  | 749081 | 10060 | SH |  | SOLE |  | 10060 | 0 | 0 |
| ELECTRONIC ARTS INC | COM | 285512109 |  | 795146 | 4979 | SH |  | DFND | 1 | 0 | 4979 | 0 |
| ELECTRONIC ARTS INC | COM | 285512109 |  | 726784 | 4551 | SH |  | SOLE |  | 4551 | 0 | 0 |
| EMCOR GROUP INC | COM | 29084Q100 |  | 367469 | 687 | SH |  | DFND | 1 | 0 | 687 | 0 |
| EMERSON ELEC CO | COM | 291011104 |  | 795980 | 5970 | SH |  | DFND | 1 | 0 | 5970 | 0 |
| EMERSON ELEC CO | COM | 291011104 |  | 781846 | 5864 | SH |  | SOLE |  | 5864 | 0 | 0 |
| TCW ETF TRUST | SENIOR LOAN ETF | 29287L809 |  | 833863 | 17738 | SH |  | DFND | 1 | 0 | 17738 | 0 |
| TCW ETF TRUST | SENIOR LOAN ETF | 29287L809 |  | 580244 | 12343 | SH |  | SOLE |  | 12343 | 0 | 0 |
| EQUIFAX INC | COM | 294429105 |  | 292310 | 1127 | SH |  | DFND | 1 | 0 | 1127 | 0 |
| EQUIFAX INC | COM | 294429105 |  | 218864 | 844 | SH |  | SOLE |  | 844 | 0 | 0 |
| EQUITABLE HLDGS INC | COM | 29452E101 |  | 232478 | 4144 | SH |  | DFND | 1 | 0 | 4144 | 0 |
| EQUITABLE HLDGS INC | COM | 29452E101 |  | 5590 | 100 | SH |  | SOLE |  | 100 | 0 | 0 |
| FMC CORP | COM NEW | 302491303 |  | 2612047 | 62564 | SH |  | DFND | 1 | 0 | 62564 | 0 |
| META PLATFORMS INC | CL A | 30303M102 |  | 1154373 | 1564 | SH |  | DFND | 1 | 0 | 1564 | 0 |
| META PLATFORMS INC | CL A | 30303M102 |  | 494653 | 670 | SH |  | SOLE |  | 670 | 0 | 0 |
| FAIR ISAAC CORP | COM | 303250104 |  | 380654 | 208 | SH |  | SOLE |  | 208 | 0 | 0 |
| FEDEX CORP | COM | 31428X106 |  | 977433 | 4300 | SH |  | DFND | 1 | 0 | 4300 | 0 |
| FEDEX CORP | COM | 31428X106 |  | 1160522 | 5105 | SH |  | SOLE |  | 5105 | 0 | 0 |
| FIDELITY COVINGTON TRUST | CONSMR STAPLES | 316092303 |  | 3140327 | 61394 | SH |  | SOLE |  | 61394 | 0 | 0 |
| FIDELITY COVINGTON TRUST | MSCI HLTH CARE I | 316092600 |  | 1924211 | 30089 | SH |  | SOLE |  | 30089 | 0 | 0 |
| FIRST INTST BANCSYSTEM INC | COM | 32055Y201 |  | 360221 | 12499 | SH |  | DFND | 1 | 0 | 12499 | 0 |
| FIRST TR EXCHANGE-TRADED FD | NY ARCA BIOTECH | 33733E203 |  | 242008 | 1500 | SH |  | SOLE |  | 1500 | 0 | 0 |
| FIRST TR EXCHANGE TRADED FD | CLOUD COMPUTING | 33734X192 |  | 242550 | 1994 | SH |  | SOLE |  | 1994 | 0 | 0 |
| FIRST TR EXCHANGE-TRADED FD | SENIOR LN FD | 33738d309 |  | 413194 | 9004 | SH |  | DFND | 1 | 0 | 9004 | 0 |
| FIRST TR EXCHANGE-TRADED FD | SENIOR LN FD | 33738d309 |  | 296404 | 6459 | SH |  | SOLE |  | 6459 | 0 | 0 |
| FIRST TR EXCHANGE-TRADED FD | MNGD FUTRS STRGY | 33739G103 |  | 237985 | 5264 | SH |  | SOLE |  | 5264 | 0 | 0 |
| FIRSTCASH HOLDINGS INC | COM | 33768G107 |  | 472720 | 3498 | SH |  | DFND | 1 | 0 | 3498 | 0 |
| FIRSTCASH HOLDINGS INC | COM | 33768G107 |  | 6118 | 45 | SH |  | SOLE |  | 45 | 0 | 0 |
| FORD MTR CO | COM | 345370860 |  | 2790772 | 257214 | SH |  | DFND | 1 | 0 | 257214 | 0 |
| FRANKLIN TEMPLETON ETF TR | US LRG CP MLTFCT | 35473P801 |  | 322684 | 5109 | SH |  | SOLE |  | 5109 | 0 | 0 |
| GILEAD SCIENCES INC | COM | 375558103 |  | 910797 | 8215 | SH |  | DFND | 1 | 0 | 8215 | 0 |
| GILEAD SCIENCES INC | COM | 375558103 |  | 745229 | 6722 | SH |  | SOLE |  | 6722 | 0 | 0 |
| GLOBE LIFE INC | COM | 37959E102 |  | 224219 | 1804 | SH |  | DFND | 1 | 0 | 1804 | 0 |
| GLOBE LIFE INC | COM | 37959E102 |  | 5238 | 42 | SH |  | SOLE |  | 42 | 0 | 0 |
| GROUP 1 AUTOMOTIVE INC | COM | 398905109 |  | 218792 | 501 | SH |  | DFND | 1 | 0 | 501 | 0 |
| HP INC | COM | 40434l105 |  | 425580 | 17399 | SH |  | DFND | 1 | 0 | 17399 | 0 |
| HP INC | COM | 40434l105 |  | 695593 | 28438 | SH |  | SOLE |  | 28438 | 0 | 0 |
| HANOVER INS GROUP INC | COM | 410867105 |  | 221001 | 1301 | SH |  | DFND | 1 | 0 | 1301 | 0 |
| HARTFORD INSURANCE GROUP INC | COM | 416515104 |  | 1044648 | 8234 | SH |  | DFND | 1 | 0 | 8234 | 0 |
| HARTFORD INSURANCE GROUP INC | COM | 416515104 |  | 484185 | 3816 | SH |  | SOLE |  | 3816 | 0 | 0 |
| HASBRO INC | COM | 418056107 |  | 465287 | 6303 | SH |  | DFND | 1 | 0 | 6303 | 0 |
| HASBRO INC | COM | 418056107 |  | 512901 | 6948 | SH |  | SOLE |  | 6948 | 0 | 0 |
| HEICO CORP NEW | COM | 422806109 |  | 847224 | 2583 | SH |  | DFND | 1 | 0 | 2583 | 0 |
| HEICO CORP NEW | COM | 422806109 |  | 527447 | 1608 | SH |  | SOLE |  | 1608 | 0 | 0 |
| HEWLETT PACKARD ENTERPRISE C | COM | 42824c109 |  | 228304 | 11164 | SH |  | DFND | 1 | 0 | 11164 | 0 |
| HEWLETT PACKARD ENTERPRISE C | COM | 42824c109 |  | 41595 | 2034 | SH |  | SOLE |  | 2034 | 0 | 0 |
| HOPE BANCORP INC | COM | 43940t109 |  | 158160 | 14740 | SH |  | DFND | 1 | 0 | 14740 | 0 |
| HOWMET AEROSPACE INC | COM | 443201108 |  | 769461 | 4134 | SH |  | DFND | 1 | 0 | 4134 | 0 |
| HOWMET AEROSPACE INC | COM | 443201108 |  | 506940 | 2724 | SH |  | SOLE |  | 2724 | 0 | 0 |
| INTERACTIVE BROKERS GROUP IN | COM CL A | 45841N107 |  | 1066310 | 19244 | SH |  | DFND | 1 | 0 | 19244 | 0 |
| INTERACTIVE BROKERS GROUP IN | COM CL A | 45841N107 |  | 1274489 | 23001 | SH |  | SOLE |  | 23001 | 0 | 0 |
| INTERCONTINENTAL EXCHANGE IN | COM | 45866F104 |  | 328962 | 1793 | SH |  | DFND | 1 | 0 | 1793 | 0 |
| INTERPUBLIC GROUP COS INC | COM | 460690100 |  | 804021 | 32844 | SH |  | DFND | 1 | 0 | 32844 | 0 |
| INVESCO ACTIVELY MANAGED EXC | VAR RATE INVT | 46090A879 |  | 306762 | 12246 | SH |  | SOLE |  | 12246 | 0 | 0 |
| INVESCO ACTIVELY MANAGED EXC | ULTRA SHRT DUR | 46090A887 |  | 490720 | 9787 | SH |  | DFND | 1 | 0 | 9787 | 0 |
| INVESCO ACTIVELY MANAGED EXC | ULTRA SHRT DUR | 46090A887 |  | 336891 | 6719 | SH |  | SOLE |  | 6719 | 0 | 0 |
| INVESCO QQQ TR | UNIT SER 1 | 46090E103 |  | 5012278 | 9086 | SH |  | SOLE |  | 9086 | 0 | 0 |
| INTUIT | COM | 461202103 |  | 756912 | 961 | SH |  | DFND | 1 | 0 | 961 | 0 |
| INTUIT | COM | 461202103 |  | 326488 | 415 | SH |  | SOLE |  | 415 | 0 | 0 |
| INVESCO EXCHANGE TRADED FD T | AEROSPACE DEFN | 46137V100 |  | 294069 | 2075 | SH |  | SOLE |  | 2075 | 0 | 0 |
| INVESCO EXCH TRADED FD TR II | S SMLCP HELT | 46138E149 |  | 2045814 | 51056 | SH |  | SOLE |  | 51056 | 0 | 0 |
| INVESCO EXCH TRADED FD TR II | S MIDCP LOW | 46138E198 |  | 3160521 | 51249 | SH |  | SOLE |  | 51249 | 0 | 0 |
| INVESCO EXCH TRADED FD TR II | KBW PPTY CASUT | 46138E586 |  | 285593 | 2325 | SH |  | SOLE |  | 2325 | 0 | 0 |
| INVESCO EXCH TRADED FD TR II | S SMLCP LOW | 46138G102 |  | 386811 | 8492 | SH |  | SOLE |  | 8492 | 0 | 0 |
| INVESCO EXCH TRADED FD TR II | SR LN ETF | 46138G508 |  | 354385 | 16940 | SH |  | SOLE |  | 16940 | 0 | 0 |
| INVESCO EXCH TRADED FD TR II | INVESCO PHLX SM | 46138G615 |  | 1356673 | 31074 | SH |  | SOLE |  | 31074 | 0 | 0 |
| INVESCO EXCH TRADED FD TR II | NASDAQ 100 ETF | 46138G649 |  | 4863392 | 21415 | SH |  | SOLE |  | 21415 | 0 | 0 |
| ISHARES TR | AGENCY BOND ETF | 464288166 |  | 3580153 | 32636 | SH |  | SOLE |  | 32636 | 0 | 0 |
| ISHARES TR | INTRM GOV CR ETF | 464288612 |  | 1965363 | 18404 | SH |  | SOLE |  | 18404 | 0 | 0 |
| ISHARES TR | ISHS 1-5YR INVS | 464288646 |  | 256466 | 4861 | SH |  | SOLE |  | 4861 | 0 | 0 |
| ISHARES TR | 0-5 YR TIPS ETF | 46429B747 |  | 317621 | 3086 | SH |  | SOLE |  | 3086 | 0 | 0 |
| ISHARES U S ETF TR | SHORT DURATION B | 46431W507 |  | 400982 | 7847 | SH |  | DFND | 1 | 0 | 7847 | 0 |
| ISHARES U S ETF TR | SHORT DURATION B | 46431W507 |  | 361379 | 7072 | SH |  | SOLE |  | 7072 | 0 | 0 |
| JACOBS SOLUTIONS INC | COM | 46982L108 |  | 515415 | 3921 | SH |  | DFND | 1 | 0 | 3921 | 0 |
| JACOBS SOLUTIONS INC | COM | 46982L108 |  | 346780 | 2638 | SH |  | SOLE |  | 2638 | 0 | 0 |
| JOHNSON  JOHNSON | COM | 478160104 |  | 204991 | 1342 | SH |  | DFND | 1 | 0 | 1342 | 0 |
| JOHNSON  JOHNSON | COM | 478160104 |  | 38924 | 255 | SH |  | SOLE |  | 255 | 0 | 0 |
| KBR INC | COM | 48242W106 |  | 304659 | 6355 | SH |  | DFND | 1 | 0 | 6355 | 0 |
| KBR INC | COM | 48242W106 |  | 4924 | 103 | SH |  | SOLE |  | 103 | 0 | 0 |
| KLA CORP | COM NEW | 482480100 |  | 855432 | 955 | SH |  | DFND | 1 | 0 | 955 | 0 |
| KLA CORP | COM NEW | 482480100 |  | 672710 | 751 | SH |  | SOLE |  | 751 | 0 | 0 |
| KEURIG DR PEPPER INC | COM | 49271v100 |  | 192707 | 5829 | SH |  | DFND | 1 | 0 | 5829 | 0 |
| KEURIG DR PEPPER INC | COM | 49271v100 |  | 35176 | 1064 | SH |  | SOLE |  | 1064 | 0 | 0 |
| KRAFT HEINZ CO | COM | 500754106 |  | 944031 | 36562 | SH |  | DFND | 1 | 0 | 36562 | 0 |
| KRANESHARES TRUST | GLOBAL CARB STRA | 500767678 |  | 1999815 | 67357 | SH |  | SOLE |  | 67357 | 0 | 0 |
| LCI INDS | COM | 50189k103 |  | 798095 | 8752 | SH |  | DFND | 1 | 0 | 8752 | 0 |
| LAM RESEARCH CORP | COM NEW | 512807306 |  | 506655 | 5205 | SH |  | DFND | 1 | 0 | 5205 | 0 |
| LAM RESEARCH CORP | COM NEW | 512807306 |  | 449721 | 4620 | SH |  | SOLE |  | 4620 | 0 | 0 |
| LAMB WESTON HLDGS INC | COM | 513272104 |  | 560291 | 10806 | SH |  | DFND | 1 | 0 | 10806 | 0 |
| LAMB WESTON HLDGS INC | COM | 513272104 |  | 711651 | 13725 | SH |  | SOLE |  | 13725 | 0 | 0 |
| LENNAR CORP | CL A | 526057104 |  | 446864 | 4040 | SH |  | DFND | 1 | 0 | 4040 | 0 |
| LENNAR CORP | CL A | 526057104 |  | 380990 | 3444 | SH |  | SOLE |  | 3444 | 0 | 0 |
| LINCOLN ELEC HLDGS INC | COM | 533900106 |  | 229089 | 1105 | SH |  | DFND | 1 | 0 | 1105 | 0 |
| LINCOLN ELEC HLDGS INC | COM | 533900106 |  | 4155 | 20 | SH |  | SOLE |  | 20 | 0 | 0 |
| LITHIA MTRS INC | COM | 536797103 |  | 236812 | 701 | SH |  | DFND | 1 | 0 | 701 | 0 |
| LITHIA MTRS INC | COM | 536797103 |  | 6023 | 18 | SH |  | SOLE |  | 18 | 0 | 0 |
| LOCKHEED MARTIN CORP | COM | 539830109 |  | 192666 | 416 | SH |  | DFND | 1 | 0 | 416 | 0 |
| LOCKHEED MARTIN CORP | COM | 539830109 |  | 34272 | 74 | SH |  | SOLE |  | 74 | 0 | 0 |
| LOUISIANA PAC CORP | COM | 546347105 |  | 204828 | 2382 | SH |  | DFND | 1 | 0 | 2382 | 0 |
| LOUISIANA PAC CORP | COM | 546347105 |  | 4767 | 55 | SH |  | SOLE |  | 55 | 0 | 0 |
| MGIC INVT CORP WIS | COM | 552848103 |  | 514177 | 18469 | SH |  | DFND | 1 | 0 | 18469 | 0 |
| MGIC INVT CORP WIS | COM | 552848103 |  | 364426 | 13090 | SH |  | SOLE |  | 13090 | 0 | 0 |
| MACYS INC | COM | 55616P104 |  | 1870357 | 160408 | SH |  | DFND | 1 | 0 | 160408 | 0 |
| MARRIOTT VACATIONS WORLDWIDE | COM | 57164Y107 |  | 911901 | 12611 | SH |  | DFND | 1 | 0 | 12611 | 0 |
| MCKESSON CORP | COM | 58155Q103 |  | 1135809 | 1550 | SH |  | DFND | 1 | 0 | 1550 | 0 |
| MCKESSON CORP | COM | 58155Q103 |  | 482646 | 659 | SH |  | SOLE |  | 659 | 0 | 0 |
| MERCADOLIBRE INC | COM | 58733R102 |  | 737044 | 282 | SH |  | DFND | 1 | 0 | 282 | 0 |
| MERCADOLIBRE INC | COM | 58733R102 |  | 407988 | 156 | SH |  | SOLE |  | 156 | 0 | 0 |
| MERCK  CO INC | COM | 58933Y105 |  | 456437 | 5766 | SH |  | DFND | 1 | 0 | 5766 | 0 |
| MERCK  CO INC | COM | 58933Y105 |  | 489009 | 6177 | SH |  | SOLE |  | 6177 | 0 | 0 |
| MICROSOFT CORP | COM | 594918104 |  | 1693681 | 3405 | SH |  | DFND | 1 | 0 | 3405 | 0 |
| MICROSOFT CORP | COM | 594918104 |  | 471734 | 948 | SH |  | SOLE |  | 948 | 0 | 0 |
| MONDELEZ INTL INC | CL A | 609207105 |  | 202387 | 3001 | SH |  | DFND | 1 | 0 | 3001 | 0 |
| MONDELEZ INTL INC | CL A | 609207105 |  | 37227 | 552 | SH |  | SOLE |  | 552 | 0 | 0 |
| MONRO INC | COM | 610236101 |  | 308652 | 20701 | SH |  | DFND | 1 | 0 | 20701 | 0 |
| MONSTER BEVERAGE CORP NEW | COM | 61174x109 |  | 1134035 | 18104 | SH |  | DFND | 1 | 0 | 18104 | 0 |
| MONSTER BEVERAGE CORP NEW | COM | 61174x109 |  | 1001540 | 15989 | SH |  | SOLE |  | 15989 | 0 | 0 |
| MORGAN STANLEY ETF TRUST | EATON VANCE SHOR | 61774R825 |  | 726046 | 14200 | SH |  | DFND | 1 | 0 | 14200 | 0 |
| MORGAN STANLEY ETF TRUST | EATON VANCE SHOR | 61774R825 |  | 570969 | 11167 | SH |  | SOLE |  | 11167 | 0 | 0 |
| MUELLER INDS INC | COM | 624756102 |  | 966753 | 12165 | SH |  | DFND | 1 | 0 | 12165 | 0 |
| MUELLER INDS INC | COM | 624756102 |  | 1186115 | 14925 | SH |  | SOLE |  | 14925 | 0 | 0 |
| MURPHY OIL CORP | COM | 626717102 |  | 1599795 | 71102 | SH |  | DFND | 1 | 0 | 71102 | 0 |
| NRG ENERGY INC | COM NEW | 629377508 |  | 249541 | 1554 | SH |  | DFND | 1 | 0 | 1554 | 0 |
| NRG ENERGY INC | COM NEW | 629377508 |  | 166843 | 1039 | SH |  | SOLE |  | 1039 | 0 | 0 |
| NATIONAL FUEL GAS CO | COM | 636180101 |  | 227446 | 2685 | SH |  | DFND | 1 | 0 | 2685 | 0 |
| NATIONAL FUEL GAS CO | COM | 636180101 |  | 77081 | 910 | SH |  | SOLE |  | 910 | 0 | 0 |
| NAVIENT CORPORATION | COM | 63938c108 |  | 239333 | 16974 | SH |  | DFND | 1 | 0 | 16974 | 0 |
| NEWMARKET CORP | COM | 651587107 |  | 518145 | 750 | SH |  | DFND | 1 | 0 | 750 | 0 |
| NEWMARKET CORP | COM | 651587107 |  | 117287 | 170 | SH |  | SOLE |  | 170 | 0 | 0 |
| NEXTERA ENERGY INC | COM | 65339F101 |  | 694964 | 10011 | SH |  | DFND | 1 | 0 | 10011 | 0 |
| NEXTERA ENERGY INC | COM | 65339F101 |  | 394312 | 5680 | SH |  | SOLE |  | 5680 | 0 | 0 |
| NORTHWEST BANCSHARES INC MD | COM | 667340103 |  | 165041 | 12914 | SH |  | DFND | 1 | 0 | 12914 | 0 |
| NVIDIA CORPORATION | COM | 67066G104 |  | 1677696 | 10619 | SH |  | DFND | 1 | 0 | 10619 | 0 |
| NVIDIA CORPORATION | COM | 67066G104 |  | 524795 | 3322 | SH |  | SOLE |  | 3322 | 0 | 0 |
| OCCIDENTAL PETE CORP | COM | 674599105 |  | 900820 | 21443 | SH |  | DFND | 1 | 0 | 21443 | 0 |
| OCCIDENTAL PETE CORP | COM | 674599105 |  | 1110492 | 26434 | SH |  | SOLE |  | 26434 | 0 | 0 |
| ONEOK INC NEW | COM | 682680103 |  | 442761 | 5424 | SH |  | DFND | 1 | 0 | 5424 | 0 |
| ONEOK INC NEW | COM | 682680103 |  | 465373 | 5701 | SH |  | SOLE |  | 5701 | 0 | 0 |
| ONEMAIN HLDGS INC | COM | 68268W103 |  | 1757367 | 30831 | SH |  | DFND | 1 | 0 | 30831 | 0 |
| ONEMAIN HLDGS INC | COM | 68268W103 |  | 533178 | 9354 | SH |  | SOLE |  | 9354 | 0 | 0 |
| OWENS CORNING NEW | COM | 690742101 |  | 514600 | 3742 | SH |  | DFND | 1 | 0 | 3742 | 0 |
| OWENS CORNING NEW | COM | 690742101 |  | 328890 | 2392 | SH |  | SOLE |  | 2392 | 0 | 0 |
| PGIM ETF TR | PGIM ULTRA SH BD | 69344A107 |  | 200782 | 4035 | SH |  | SOLE |  | 4035 | 0 | 0 |
| PACER FDS TR | TRENDP US LAR CP | 69374H105 |  | 3169397 | 62439 | SH |  | SOLE |  | 62439 | 0 | 0 |
| PACER FDS TR | TRENDP US MID CP | 69374H204 |  | 3045722 | 87320 | SH |  | SOLE |  | 87320 | 0 | 0 |
| PACER FDS TR | US LRG CP CASH | 69374H360 |  | 770917 | 21957 | SH |  | SOLE |  | 21957 | 0 | 0 |
| PACER FDS TR | US CHS CWS GWT | 69374H667 |  | 926925 | 18817 | SH |  | SOLE |  | 18817 | 0 | 0 |
| PACER FDS TR | LUNT LRG CP ALTR | 69374H717 |  | 3232772 | 85841 | SH |  | SOLE |  | 85841 | 0 | 0 |
| PACER FDS TR | US CASH COWS 100 | 69374h881 |  | 217535 | 3948 | SH |  | SOLE |  | 3948 | 0 | 0 |
| PACIFIC PREMIER BANCORP | COM | 69478X105 |  | 281256 | 13336 | SH |  | DFND | 1 | 0 | 13336 | 0 |
| PAPA JOHNS INTL INC | COM | 698813102 |  | 1852085 | 37844 | SH |  | DFND | 1 | 0 | 37844 | 0 |
| PARKER-HANNIFIN CORP | COM | 701094104 |  | 336663 | 482 | SH |  | DFND | 1 | 0 | 482 | 0 |
| PARKER-HANNIFIN CORP | COM | 701094104 |  | 232472 | 333 | SH |  | SOLE |  | 333 | 0 | 0 |
| PENSKE AUTOMOTIVE GRP INC | COM | 70959w103 |  | 1048213 | 6101 | SH |  | DFND | 1 | 0 | 6101 | 0 |
| PENSKE AUTOMOTIVE GRP INC | COM | 70959w103 |  | 1256395 | 7313 | SH |  | SOLE |  | 7313 | 0 | 0 |
| PERMIAN RESOURCES CORP | CLASS A COM | 71424F105 |  | 935694 | 68700 | SH |  | DFND | 1 | 0 | 68700 | 0 |
| PFIZER INC | COM | 717081103 |  | 3112610 | 128408 | SH |  | DFND | 1 | 0 | 128408 | 0 |
| PFIZER INC | COM | 717081103 |  | 509307 | 21011 | SH |  | SOLE |  | 21011 | 0 | 0 |
| PHILIP MORRIS INTL INC | COM | 718172109 |  | 678799 | 3727 | SH |  | DFND | 1 | 0 | 3727 | 0 |
| PHILIP MORRIS INTL INC | COM | 718172109 |  | 452628 | 2485 | SH |  | SOLE |  | 2485 | 0 | 0 |
| PIMCO ETF TR | BROAD US TIPS | 72201R403 |  | 786224 | 14762 | SH |  | SOLE |  | 14762 | 0 | 0 |
| PIMCO ETF TR | MTG BKD SECS ACT | 72201R569 |  | 1701152 | 34682 | SH |  | SOLE |  | 34682 | 0 | 0 |
| PRIMERICA INC | COM | 74164M108 |  | 938414 | 3429 | SH |  | DFND | 1 | 0 | 3429 | 0 |
| PRIMERICA INC | COM | 74164M108 |  | 1130139 | 4130 | SH |  | SOLE |  | 4130 | 0 | 0 |
| PROGRESSIVE CORP | COM | 743315103 |  | 292745 | 1097 | SH |  | DFND | 1 | 0 | 1097 | 0 |
| PROGRESSIVE CORP | COM | 743315103 |  | 52179 | 196 | SH |  | SOLE |  | 196 | 0 | 0 |
| PROSHARES TR | RUSS 2000 DIVD | 74347B698 |  | 1078955 | 16584 | SH |  | SOLE |  | 16584 | 0 | 0 |
| PROVIDENT FINL SVCS INC | COM | 74386T105 |  | 213463 | 12177 | SH |  | DFND | 1 | 0 | 12177 | 0 |
| PRUDENTIAL FINL INC | COM | 744320102 |  | 758741 | 7062 | SH |  | DFND | 1 | 0 | 7062 | 0 |
| RBB FD INC | US TRSRY 6 MNTH | 74933W460 |  | 201804 | 4024 | SH |  | SOLE |  | 4024 | 0 | 0 |
| RALPH LAUREN CORP | CL A | 751212101 |  | 216407 | 789 | SH |  | DFND | 1 | 0 | 789 | 0 |
| RALPH LAUREN CORP | CL A | 751212101 |  | 5664 | 21 | SH |  | SOLE |  | 21 | 0 | 0 |
| UPBOUND GROUP INC | COM | 76009N100 |  | 263023 | 10479 | SH |  | DFND | 1 | 0 | 10479 | 0 |
| REPUBLIC SVCS INC | COM | 760759100 |  | 309249 | 1254 | SH |  | DFND | 1 | 0 | 1254 | 0 |
| RESMED INC | COM | 761152107 |  | 775806 | 3007 | SH |  | DFND | 1 | 0 | 3007 | 0 |
| RESMED INC | COM | 761152107 |  | 609788 | 2364 | SH |  | SOLE |  | 2364 | 0 | 0 |
| ROBLOX CORP | CL A | 771049103 |  | 937858 | 8915 | SH |  | DFND | 1 | 0 | 8915 | 0 |
| ROBLOX CORP | CL A | 771049103 |  | 586944 | 5579 | SH |  | SOLE |  | 5579 | 0 | 0 |
| ROCKWELL AUTOMATION INC | COM | 773903109 |  | 565353 | 1702 | SH |  | DFND | 1 | 0 | 1702 | 0 |
| ROCKWELL AUTOMATION INC | COM | 773903109 |  | 229802 | 692 | SH |  | SOLE |  | 692 | 0 | 0 |
| ROLLINS INC | COM | 775711104 |  | 322158 | 5710 | SH |  | DFND | 1 | 0 | 5710 | 0 |
| ROLLINS INC | COM | 775711104 |  | 55179 | 978 | SH |  | SOLE |  | 978 | 0 | 0 |
| RYDER SYS INC | COM | 783549108 |  | 536466 | 3374 | SH |  | DFND | 1 | 0 | 3374 | 0 |
| RYDER SYS INC | COM | 783549108 |  | 353133 | 2221 | SH |  | SOLE |  | 2221 | 0 | 0 |
| S GLOBAL INC | COM | 78409v104 |  | 389140 | 738 | SH |  | DFND | 1 | 0 | 738 | 0 |
| SPDR S 500 ETF TR | TR UNIT | 78462f103 |  | 221184 | 358 | SH |  | SOLE |  | 358 | 0 | 0 |
| SPDR SERIES TRUST | PORTFOLIO INTRMD | 78464a375 |  | 306451 | 9126 | SH |  | SOLE |  | 9126 | 0 | 0 |
| SPDR SERIES TRUST | AEROSPACE DEF | 78464A631 |  | 649695 | 3080 | SH |  | SOLE |  | 3080 | 0 | 0 |
| SPDR SERIES TRUST | PORTFLI TIPS ETF | 78464A656 |  | 341699 | 13112 | SH |  | SOLE |  | 13112 | 0 | 0 |
| SPDR SERIES TRUST | PORTFOLI S | 78464A805 |  | 4805317 | 64165 | SH |  | SOLE |  | 64165 | 0 | 0 |
| SPDR SERIES TRUST | PORTFOLIO S | 78464A854 |  | 223667 | 3077 | SH |  | SOLE |  | 3077 | 0 | 0 |
| SPDR SERIES TRUST | BLOOMBERG INVT | 78468R200 |  | 707271 | 22941 | SH |  | DFND | 1 | 0 | 22941 | 0 |
| SPDR SERIES TRUST | BLOOMBERG INVT | 78468R200 |  | 553676 | 17959 | SH |  | SOLE |  | 17959 | 0 | 0 |
| SPDR SERIES TRUST | BLOOMBERG SHT TE | 78468r408 |  | 353408 | 13870 | SH |  | SOLE |  | 13870 | 0 | 0 |
| SPDR SERIES TRUST | BLOOMBERG 1 10 Y | 78468R861 |  | 1508481 | 78813 | SH |  | SOLE |  | 78813 | 0 | 0 |
| SALESFORCE INC | COM | 79466L302 |  | 656365 | 2407 | SH |  | DFND | 1 | 0 | 2407 | 0 |
| SALESFORCE INC | COM | 79466L302 |  | 624515 | 2290 | SH |  | SOLE |  | 2290 | 0 | 0 |
| SCHLUMBERGER LTD | COM STK | 806857108 |  | 205166 | 6070 | SH |  | DFND | 1 | 0 | 6070 | 0 |
| SCHLUMBERGER LTD | COM STK | 806857108 |  | 35625 | 1054 | SH |  | SOLE |  | 1054 | 0 | 0 |
| SCHWAB CHARLES CORP | COM | 808513105 |  | 753186 | 8255 | SH |  | DFND | 1 | 0 | 8255 | 0 |
| SCHWAB CHARLES CORP | COM | 808513105 |  | 810430 | 8882 | SH |  | SOLE |  | 8882 | 0 | 0 |
| SCHWAB STRATEGIC TR | US BRD MKT ETF | 808524102 |  | 4841708 | 203177 | SH |  | SOLE |  | 203177 | 0 | 0 |
| SCHWAB STRATEGIC TR | US LRG CAP ETF | 808524201 |  | 224164 | 9172 | SH |  | SOLE |  | 9172 | 0 | 0 |
| SCHWAB STRATEGIC TR | 1 5YR CORP BD | 808524714 |  | 211009 | 8505 | SH |  | SOLE |  | 8505 | 0 | 0 |
| SCHWAB STRATEGIC TR | SHT TM US TRES | 808524862 |  | 396492 | 16263 | SH |  | SOLE |  | 16263 | 0 | 0 |
| SCHWAB STRATEGIC TR | US TIPS ETF | 808524870 |  | 1529431 | 57325 | SH |  | SOLE |  | 57325 | 0 | 0 |
| SELECT SECTOR SPDR TR | SBI CONS STPLS | 81369y308 |  | 1988542 | 24559 | SH |  | SOLE |  | 24559 | 0 | 0 |
| SERVICE CORP INTL | COM | 817565104 |  | 229385 | 2818 | SH |  | DFND | 1 | 0 | 2818 | 0 |
| SERVICENOW INC | COM | 81762P102 |  | 755639 | 735 | SH |  | DFND | 1 | 0 | 735 | 0 |
| SERVICENOW INC | COM | 81762P102 |  | 683858 | 665 | SH |  | SOLE |  | 665 | 0 | 0 |
| SILGAN HLDGS INC | COM | 827048109 |  | 212873 | 3929 | SH |  | DFND | 1 | 0 | 3929 | 0 |
| STANLEY BLACK  DECKER INC | COM | 854502101 |  | 452299 | 6676 | SH |  | DFND | 1 | 0 | 6676 | 0 |
| STANLEY BLACK  DECKER INC | COM | 854502101 |  | 464494 | 6856 | SH |  | SOLE |  | 6856 | 0 | 0 |
| STIFEL FINL CORP | COM | 860630102 |  | 558855 | 5385 | SH |  | DFND | 1 | 0 | 5385 | 0 |
| STIFEL FINL CORP | COM | 860630102 |  | 369353 | 3559 | SH |  | SOLE |  | 3559 | 0 | 0 |
| SYSCO CORP | COM | 871829107 |  | 215632 | 2847 | SH |  | DFND | 1 | 0 | 2847 | 0 |
| SYSCO CORP | COM | 871829107 |  | 39688 | 524 | SH |  | SOLE |  | 524 | 0 | 0 |
| TKO GROUP HOLDINGS INC | CL A | 87256C101 |  | 742720 | 4082 | SH |  | DFND | 1 | 0 | 4082 | 0 |
| TKO GROUP HOLDINGS INC | CL A | 87256C101 |  | 246735 | 1356 | SH |  | SOLE |  | 1356 | 0 | 0 |
| T-MOBILE US INC | COM | 872590104 |  | 321174 | 1348 | SH |  | DFND | 1 | 0 | 1348 | 0 |
| T-MOBILE US INC | COM | 872590104 |  | 208111 | 873 | SH |  | SOLE |  | 873 | 0 | 0 |
| TESLA INC | COM | 88160R101 |  | 441045 | 1388 | SH |  | SOLE |  | 1388 | 0 | 0 |
| TETRA TECH INC NEW | COM | 88162G103 |  | 901841 | 25079 | SH |  | DFND | 1 | 0 | 25079 | 0 |
| TETRA TECH INC NEW | COM | 88162G103 |  | 1146297 | 31877 | SH |  | SOLE |  | 31877 | 0 | 0 |
| TEXAS ROADHOUSE INC | COM | 882681109 |  | 480894 | 2566 | SH |  | DFND | 1 | 0 | 2566 | 0 |
| TEXAS ROADHOUSE INC | COM | 882681109 |  | 328089 | 1751 | SH |  | SOLE |  | 1751 | 0 | 0 |
| TRADEWEB MKTS INC | CL A | 892672106 |  | 648698 | 4431 | SH |  | DFND | 1 | 0 | 4431 | 0 |
| TRADEWEB MKTS INC | CL A | 892672106 |  | 433034 | 2958 | SH |  | SOLE |  | 2958 | 0 | 0 |
| TRANSDIGM GROUP INC | COM | 893641100 |  | 333020 | 219 | SH |  | DFND | 1 | 0 | 219 | 0 |
| TRANSDIGM GROUP INC | COM | 893641100 |  | 147882 | 97 | SH |  | SOLE |  | 97 | 0 | 0 |
| TRAVEL PLUS LEISURE CO | COM | 894164102 |  | 736578 | 14272 | SH |  | DFND | 1 | 0 | 14272 | 0 |
| TRUIST FINL CORP | COM | 89832Q109 |  | 934861 | 21746 | SH |  | DFND | 1 | 0 | 21746 | 0 |
| TYSON FOODS INC | CL A | 902494103 |  | 204237 | 3651 | SH |  | DFND | 1 | 0 | 3651 | 0 |
| UGI CORP NEW | COM | 902681105 |  | 454121 | 12469 | SH |  | DFND | 1 | 0 | 12469 | 0 |
| UGI CORP NEW | COM | 902681105 |  | 488574 | 13415 | SH |  | SOLE |  | 13415 | 0 | 0 |
| UBER TECHNOLOGIES INC | COM | 90353T100 |  | 651047 | 6978 | SH |  | DFND | 1 | 0 | 6978 | 0 |
| UBER TECHNOLOGIES INC | COM | 90353T100 |  | 447061 | 4792 | SH |  | SOLE |  | 4792 | 0 | 0 |
| UNITED PARCEL SERVICE INC | CL B | 911312106 |  | 3097849 | 30690 | SH |  | DFND | 1 | 0 | 30690 | 0 |
| UNITED PARCEL SERVICE INC | CL B | 911312106 |  | 487540 | 4830 | SH |  | SOLE |  | 4830 | 0 | 0 |
| UNITEDHEALTH GROUP INC | COM | 91324p102 |  | 437070 | 1401 | SH |  | DFND | 1 | 0 | 1401 | 0 |
| UNITEDHEALTH GROUP INC | COM | 91324p102 |  | 408060 | 1308 | SH |  | SOLE |  | 1308 | 0 | 0 |
| VALLEY NATL BANCORP | COM | 919794107 |  | 799655 | 89547 | SH |  | DFND | 1 | 0 | 89547 | 0 |
| VANECK ETF TRUST | FALLEN ANGEL HG | 92189f437 |  | 436184 | 14897 | SH |  | SOLE |  | 14897 | 0 | 0 |
| VANECK ETF TRUST | MRNGSTR WDE MOAT | 92189F643 |  | 305809 | 3261 | SH |  | SOLE |  | 3261 | 0 | 0 |
| VANECK ETF TRUST | SEMICONDUCTR ETF | 92189F676 |  | 1020913 | 3661 | SH |  | SOLE |  | 3661 | 0 | 0 |
| VANECK ETF TRUST | RETAIL ETF | 92189F684 |  | 448254 | 1878 | SH |  | SOLE |  | 1878 | 0 | 0 |
| VANGUARD SCOTTSDALE FDS | SHORT TERM TREAS | 92206c102 |  | 209962 | 3572 | SH |  | SOLE |  | 3572 | 0 | 0 |
| VANGUARD SCOTTSDALE FDS | VNG RUS1000IDX | 92206c730 |  | 223003 | 794 | SH |  | SOLE |  | 794 | 0 | 0 |
| VERISIGN INC | COM | 92343E102 |  | 742216 | 2570 | SH |  | DFND | 1 | 0 | 2570 | 0 |
| VERISIGN INC | COM | 92343E102 |  | 450222 | 1559 | SH |  | SOLE |  | 1559 | 0 | 0 |
| VERIZON COMMUNICATIONS INC | COM | 92343v104 |  | 2877455 | 66500 | SH |  | DFND | 1 | 0 | 66500 | 0 |
| VERIZON COMMUNICATIONS INC | COM | 92343v104 |  | 475710 | 10994 | SH |  | SOLE |  | 10994 | 0 | 0 |
| VERISK ANALYTICS INC | COM | 92345y106 |  | 661938 | 2125 | SH |  | DFND | 1 | 0 | 2125 | 0 |
| VERISK ANALYTICS INC | COM | 92345y106 |  | 422955 | 1358 | SH |  | SOLE |  | 1358 | 0 | 0 |
| VERTIV HOLDINGS CO | COM CL A | 92537N108 |  | 883974 | 6884 | SH |  | DFND | 1 | 0 | 6884 | 0 |
| VERTIV HOLDINGS CO | COM CL A | 92537N108 |  | 851492 | 6631 | SH |  | SOLE |  | 6631 | 0 | 0 |
| VICTORY PORTFOLIOS II | SHORT TRM BD ETF | 92647N535 |  | 223303 | 4394 | SH |  | SOLE |  | 4394 | 0 | 0 |
| VICTORY PORTFOLIOS II | VICTORYSHARES SM | 92647X822 |  | 1276112 | 48688 | SH |  | SOLE |  | 48688 | 0 | 0 |
| VICTORY PORTFOLIOS II | SHARES FREE CASH | 92647X830 |  | 8592231 | 243062 | SH |  | SOLE |  | 243062 | 0 | 0 |
| VIPER ENERGY INC | CL A | 927959106 |  | 203729 | 5343 | SH |  | DFND | 1 | 0 | 5343 | 0 |
| VIPER ENERGY INC | CL A | 927959106 |  | 5033 | 132 | SH |  | SOLE |  | 132 | 0 | 0 |
| VISA INC | COM CL A | 92826C839 |  | 685957 | 1932 | SH |  | DFND | 1 | 0 | 1932 | 0 |
| VISA INC | COM CL A | 92826C839 |  | 661582 | 1863 | SH |  | SOLE |  | 1863 | 0 | 0 |
| VISTRA CORP | COM | 92840M102 |  | 403706 | 2083 | SH |  | DFND | 1 | 0 | 2083 | 0 |
| WABTEC | COM | 929740108 |  | 459942 | 2197 | SH |  | DFND | 1 | 0 | 2197 | 0 |
| WABTEC | COM | 929740108 |  | 274311 | 1310 | SH |  | SOLE |  | 1310 | 0 | 0 |
| WESBANCO INC | COM | 950810101 |  | 794293 | 25112 | SH |  | DFND | 1 | 0 | 25112 | 0 |
| WESTERN UN CO | COM | 959802109 |  | 873979 | 103798 | SH |  | DFND | 1 | 0 | 103798 | 0 |
| WILLIAMS SONOMA INC | COM | 969904101 |  | 906050 | 5546 | SH |  | DFND | 1 | 0 | 5546 | 0 |
| WILLIAMS SONOMA INC | COM | 969904101 |  | 1085040 | 6642 | SH |  | SOLE |  | 6642 | 0 | 0 |
| WISDOMTREE TR | INTRST RATE HDGE | 97717W380 |  | 1261819 | 56762 | SH |  | DFND | 1 | 0 | 56762 | 0 |
| WISDOMTREE TR | INTRST RATE HDGE | 97717W380 |  | 877440 | 39471 | SH |  | SOLE |  | 39471 | 0 | 0 |
| WISDOMTREE TR | BLMBG US BULL | 97717W471 |  | 314085 | 12188 | SH |  | SOLE |  | 12188 | 0 | 0 |
| WORKDAY INC | CL A | 98138H101 |  | 277440 | 1156 | SH |  | DFND | 1 | 0 | 1156 | 0 |
| WORKDAY INC | CL A | 98138H101 |  | 48461 | 202 | SH |  | SOLE |  | 202 | 0 | 0 |
| YUM CHINA HLDGS INC | COM | 98850P109 |  | 972845 | 21759 | SH |  | DFND | 1 | 0 | 21759 | 0 |
| YUM CHINA HLDGS INC | COM | 98850P109 |  | 1191834 | 26657 | SH |  | SOLE |  | 26657 | 0 | 0 |
| ZSCALER INC | COM | 98980G102 |  | 801803 | 2554 | SH |  | DFND | 1 | 0 | 2554 | 0 |
| ZSCALER INC | COM | 98980G102 |  | 534615 | 1703 | SH |  | SOLE |  | 1703 | 0 | 0 |
| ACCENTURE PLC IRELAND | SHS CLASS A | G1151C101 |  | 407088 | 1362 | SH |  | DFND | 1 | 0 | 1362 | 0 |
| ACCENTURE PLC IRELAND | SHS CLASS A | G1151C101 |  | 340528 | 1139 | SH |  | SOLE |  | 1139 | 0 | 0 |
| ESSENT GROUP LTD | COM | G3198U102 |  | 537157 | 8845 | SH |  | DFND | 1 | 0 | 8845 | 0 |
| ESSENT GROUP LTD | COM | G3198U102 |  | 359461 | 5919 | SH |  | SOLE |  | 5919 | 0 | 0 |
| FLEX LNG LTD | SHS | G35947202 |  | 202809 | 9227 | SH |  | DFND | 1 | 0 | 9227 | 0 |
| GENPACT LIMITED | SHS | G3922B107 |  | 340329 | 7733 | SH |  | DFND | 1 | 0 | 7733 | 0 |
| GENPACT LIMITED | SHS | G3922B107 |  | 5262 | 120 | SH |  | SOLE |  | 120 | 0 | 0 |
| JANUS HENDERSON GROUP PLC | ORD SHS | G4474Y214 |  | 236225 | 6082 | SH |  | DFND | 1 | 0 | 6082 | 0 |
| JANUS HENDERSON GROUP PLC | ORD SHS | G4474Y214 |  | 39772 | 1024 | SH |  | SOLE |  | 1024 | 0 | 0 |
| INVESCO LTD | SHS | G491BT108 |  | 1723535 | 109292 | SH |  | DFND | 1 | 0 | 109292 | 0 |
| MEDTRONIC PLC | SHS | G5960L103 |  | 212259 | 2435 | SH |  | DFND | 1 | 0 | 2435 | 0 |
| MEDTRONIC PLC | SHS | G5960L103 |  | 37832 | 434 | SH |  | SOLE |  | 434 | 0 | 0 |
| NOBLE CORP PLC | ORD SHS A | G65431127 |  | 1439780 | 54229 | SH |  | DFND | 1 | 0 | 54229 | 0 |
| SFL CORPORATION LTD | SHS | G7738W106 |  | 223819 | 26869 | SH |  | DFND | 1 | 0 | 26869 | 0 |
| WILLIS TOWERS WATSON PLC LTD | SHS | G96629103 |  | 713839 | 2329 | SH |  | DFND | 1 | 0 | 2329 | 0 |
| WILLIS TOWERS WATSON PLC LTD | SHS | G96629103 |  | 678186 | 2213 | SH |  | SOLE |  | 2213 | 0 | 0 |
| MILLICOM INTL CELLULAR S A | COM STK | L6388F110 |  | 480141 | 12814 | SH |  | DFND | 1 | 0 | 12814 | 0 |
| MILLICOM INTL CELLULAR S A | COM STK | L6388F110 |  | 495503 | 13224 | SH |  | SOLE |  | 13224 | 0 | 0 |
| LYONDELLBASELL INDUSTRIES N | SHS - A - | n53745100 |  | 2588483 | 44737 | SH |  | DFND | 1 | 0 | 44737 | 0 |
| GLOBAL SHIP LEASE INC NEW | COM CL A | Y27183600 |  | 216821 | 8241 | SH |  | DFND | 1 | 0 | 8241 | 0 |

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