The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE
OMB APPROVAL
OMB Number: 3235-0006
Expires: July 31, 2015
Estimated average burden
hours per response: 23.8
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
ACCENTURE PLC SHS CLASS A G1151C101 11,153 89,625 SH DFND 0002133824 2,125 87,500 0
ADOBE INC COM 00724F101 42,449 207,050 SH DFND 0002133824 5,150 201,900 0
ADVANCED MICRO DEVICES INC COM 007903107 57,144 98,370 SH DFND 0002133824 3,970 94,400 0
AERCAP HOLDINGS N.V. SHS N00985106 106,025 727,297 SH DFND 0002133824 30,702 696,595 0
AGILENT TECHNOLOGIES INC COM 00846U101 42,320 318,600 SH DFND 0002133824 5,500 313,100 0
AIRBNB INC COM CL A 009066101 111,444 778,783 SH DFND 0002133824 36,483 742,300 0
ALIBABA GROUP HOLDING LTD SPONSORED ADS 01609W102 90,080 938,530 SH DFND 0002133824 45,260 893,270 0
ALPHABET INC CAP STK CL A 02079K305 379 1,061 PRN SOLE 1,061 0 0
ALPHABET INC CAP STK CL C 02079K107 194,612 550,794 SH DFND 0002133824 29,519 521,275 0
AMAZON.COM INC COM 023135106 82,394 345,700 SH DFND 0002133824 11,910 333,790 0
AMGEN INC COM 031162100 136 375 PRN SOLE 375 0 0
AMPLIFY JUNIOR SILVER MINERS ETF JR SILV MINE ETF 032108649 92 3,565 PRN SOLE 3,565 0 0
AMRIZE AG SHS H2927K103 40,525 760,320 SH DFND 0002133824 17,800 742,520 0
AON PLC SHS CL A G0403H108 104,993 316,541 SH DFND 0002133824 9,816 306,725 0
APOLLO GLOBAL MANAGEMENT INC COM 03769M106 172,214 1,455,614 SH DFND 0002133824 60,964 1,394,650 0
APPLE INC COM 037833100 1,157 4,000 PRN SOLE 4,000 0 0
APPLIED MATERIALS INC COM 038222105 81,609 112,875 SH DFND 0002133824 10,190 102,685 0
BERKSHIRE HATHAWAY INC CL B NEW 084670702 10 19 PRN SOLE 19 0 0
BLACKROCK INC COM 09290D101 107,181 111,466 SH DFND 0002133824 6,371 105,095 0
BLACKSTONE INC COM 09260D107 24,494 208,155 SH DFND 0002133824 15,155 193,000 0
BRIGHTSTAR LOTTERY SHS USD G4863A108 135 12,550 PRN SOLE 12,550 0 0
BROADCOM INC COM 11135F101 80,092 212,025 SH DFND 0002133824 3,325 208,700 0
CHARLES SCHWAB CORP COM 808513105 154,549 1,674,961 SH DFND 0002133824 76,221 1,598,740 0
CHEVRON CORPORATION COM 166764100 14,623 88,215 SH DFND 0002133824 11,115 77,100 0
CHUBB LIMITED COM H1467J104 105,606 309,930 SH DFND 0002133824 15,560 294,370 0
CISCO SYSTEMS INC COM 17275R102 70 600 PRN SOLE 600 0 0
CNH INDUSTRIAL N.V. SHS N20944109 3,571 318,000 SH DFND 0002133824 60,000 258,000 0
COMCAST CORP CL A 20030N101 86,259 3,513,589 SH DFND 0002133824 159,809 3,353,780 0
CORPAY INC COM SHS 219948106 26,378 79,150 SH DFND 0002133824 4,350 74,800 0
DEERE & CO COM 244199105 51,169 80,666 SH DFND 0002133824 3,350 77,316 0
DELTA AIR LINES INC (DE) COM NEW 247361702 768 8,200 PRN SOLE 8,200 0 0
DOCUSIGN INC COM 256163106 8,173 184,000 SH DFND 0002133824 4,500 179,500 0
ELECTRONIC ARTS INC COM 285512109 523 2,550 PRN SOLE 2,550 0 0
EXXON MOBIL CORP COM 30231G102 6,002 43,900 SH DFND 0002133824 1,000 42,900 0
FISERV INC COM 337738108 12,899 262,970 SH DFND 0002133824 13,870 249,100 0
FLUX POWER HOLDINGS INC COM NEW 344057302 35 40,000 PRN SOLE 40,000 0 0
FREEPORT-MCMORAN INC CL B 35671D857 1,258 20,000 PRN SOLE 20,000 0 0
GRUPO TELEVISA S.A.B SPON ADR REP ORD 40049J206 169 62,280 PRN SOLE 62,280 0 0
INTEL CORP COM 458140100 282,325 2,021,951 SH DFND 0002133824 117,991 1,903,960 0
INTERCONTINENTAL EXCHANGE INC COM 45866F104 53,037 430,807 SH DFND 0002133824 14,977 415,830 0
INTUIT INC COM 461202103 14,368 55,050 SH DFND 0002133824 1,150 53,900 0
JOHNSON & JOHNSON COM 478160104 203 800 PRN SOLE 800 0 0
JPMORGAN CHASE & CO COM 46625H100 542 1,655 PRN SOLE 1,655 0 0
LABCORP HOLDINGS INC COM SHS 504922105 78,562 280,577 SH DFND 0002133824 14,812 265,765 0
LAS VEGAS SANDS CORP COM 517834107 59,439 1,286,830 SH DFND 0002133824 69,570 1,217,260 0
LEXINFINTECH HOLDINGS LTD ADR 528877103 39 20,000 PRN SOLE 20,000 0 0
LINDE PLC SHS G54950103 724 1,396 PRN SOLE 1,396 0 0
MERCADOLIBRE INC COM 58733R102 126,189 74,343 SH DFND 0002133824 3,088 71,255 0
MERCK & CO INC COM 58933Y105 251 1,950 PRN SOLE 1,950 0 0
META PLATFORMS INC CL A 30303M102 65,890 116,973 SH DFND 0002133824 6,053 110,920 0
MICROSOFT CORP COM 594918104 148,085 396,990 SH DFND 0002133824 18,405 378,585 0
NASDAQ INC COM 631103108 483 6,126 PRN SOLE 6,126 0 0
NEBIUS GROUP N.V. SHS CLASS A N97284108 345 1,250 PRN SOLE 1,250 0 0
NETFLIX INC COM 64110L106 25,318 354,600 SH DFND 0002133824 5,700 348,900 0
NETGEAR INC COM 64111Q104 93 4,000 PRN SOLE 4,000 0 0
NVIDIA CORP COM 67066G104 136,605 682,716 SH DFND 0002133824 42,816 639,900 0
NVIDIA CORP CALL 67066G904 15,307 76,500 SH DFND 0002133824 0 76,500 0
NXP SEMICONDUCTORS N.V. COM N6596X109 289 1,028 PRN SOLE 1,028 0 0
ORACLE CORP COM 68389X105 76,393 521,279 SH DFND 0002133824 23,839 497,440 0
PALO ALTO NETWORKS INC COM 697435105 43,923 128,800 SH DFND 0002133824 6,700 122,100 0
PFIZER INC COM 717081103 329 13,657 PRN SOLE 13,657 0 0
PINTEREST INC CL A 72352L106 18,174 864,200 SH DFND 0002133824 40,200 824,000 0
QUALCOMM INC COM 747525103 6,371 34,475 SH DFND 0002133824 0 34,475 0
ROPER TECHNOLOGIES INC COM 776696106 8,088 23,900 SH DFND 0002133824 400 23,500 0
SALESFORCE INC COM 79466L302 71,599 457,033 SH DFND 0002133824 21,358 435,675 0
SCHWAB FUNDAMENTAL EMERGING MARKETS EQUITY ETF FUND EM EQUI ETF 808524730 32 795 PRN SOLE 795 0 0
SERVICENOW INC COM 81762P102 88,293 889,331 SH DFND 0002133824 28,031 861,300 0
SPDR GOLD TRUST GOLD SHS 78463V107 1,353 3,674 PRN SOLE 3,674 0 0
SPDR S&P EMERGING MARKETS SMALL CAP ETF ST MARKE CAP ETF 78463X756 33 445 PRN SOLE 445 0 0
S&P GLOBAL INC COM 78409V104 52,687 129,370 SH DFND 0002133824 2,670 126,700 0
SPROTT PHYSICAL GOLD AND SILVER TRUST PHYSICAL GOLD AN 85208R101 605 15,045 PRN SOLE 15,045 0 0
SYNOPSYS INC COM 871607107 471 1,055 PRN SOLE 1,055 0 0
TAIWAN SEMICONDUCTOR MANUFACTURING CO LTD SPONSORED ADS 874039100 5,404 11,315 SH DFND 0002133824 0 11,315 0
TAKE-TWO INTERACTIVE SOFTWARE INC COM 874054109 66,134 264,559 SH DFND 0002133824 13,389 251,170 0
THE WALT DISNEY COMPANY COM 254687106 39,437 409,730 SH DFND 0002133824 14,630 395,100 0
T-MOBILE US INC COM 872590104 154,893 923,467 SH DFND 0002133824 35,837 887,630 0
TRAVEL PLUS LEISURE CO COM 894164102 497 6,500 PRN SOLE 6,500 0 0
TRIP COM GROUP LTD ADS 89677Q107 8,852 222,200 SH DFND 0002133824 7,600 214,600 0
TSS INC COM 87288V101 123 10,000 PRN SOLE 10,000 0 0
UBER TECHNOLOGIES INC COM 90353T100 124,420 1,724,227 SH DFND 0002133824 66,117 1,658,110 0
UNION PACIFIC CORP COM 907818108 7,820 28,750 SH DFND 0002133824 750 28,000 0
UNITEDHEALTH GROUP INC COM 91324P102 31,494 75,775 SH DFND 0002133824 2,170 73,605 0
VANECK GOLD MINERS ETF GOLD MINERS ETF 92189F106 468 6,205 PRN SOLE 6,205 0 0
VANECK JUNIOR GOLD MINERS ETF JUNIOR GOLD MINE 92189F791 363 3,690 PRN SOLE 3,690 0 0
VANECK VIETNAM ETF VANECK VIETNAM 92189F817 28 1,500 PRN SOLE 1,500 0 0
VERSANT MEDIA GROUP INC COM CL A 925283103 113 3,140 PRN SOLE 3,140 0 0
VIPSHOP HOLDINGS LTD SPONSORED ADS A 92763W103 60,463 4,559,813 SH DFND 0002133824 216,463 4,343,350 0
VISA INC COM CL A 92826C839 71,760 209,157 SH DFND 0002133824 12,837 196,320 0
VISTRA CORP COM 92840M102 56,139 353,900 SH DFND 0002133824 12,400 341,500 0
WW GRAINGER INC COM 384802104 24,440 17,965 SH DFND 0002133824 465 17,500 0
WYNDHAM HOTELS & RESORTS INC COM 98311A105 57,833 686,770 SH DFND 0002133824 12,400 674,370 0
ZIMMER BIOMET HOLDINGS INC COM 98956P102 25,569 297,000 SH DFND 0002133824 6,000 291,000 0
ZOETIS INC CL A 98978V103 54,553 759,150 SH DFND 0002133824 14,700 744,450 0