Cumberland Partners 13F-HR Quarterly holdings report by institutional manager

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:	Oct 31, 2018
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
AIRBNB INC	COM CL A	009066101	5,488	40	SH		DFND	1	40	0	0
AIRBNB INC	COM CL A	009066101	3,018,620	22,000	SH		DFND	2	22,000	0	0
ALAMOS GOLD INC NEW	COM CL A	011532108	103,229	9,110	SH		DFND	2	9,110	0	0
ALAMOS GOLD INC NEW	COM CL A	011532108	4,183,538	369,200	SH		DFND		369,200	0	0
AMAZON COM INC	COM	023135106	1,633,619	12,851	SH		DFND	1	12,851	0	0
AMAZON COM INC	COM	023135106	826,280	6,500	SH		DFND	2	6,500	0	0
U HAUL HOLDING COMPANY	COM SER N	023586506	579,957	11,070	SH		DFND		11,070	0	0
AMPHENOL CORP NEW	CL A	032095101	330,081	3,930	SH		DFND	1	3,930	0	0
AMPHENOL CORP NEW	CL A	032095101	16,798	200	SH		DFND	2	200	0	0
ANALOG DEVICES INC	COM	032654105	10,676,988	60,980	SH		DFND	1	60,980	0	0
ANALOG DEVICES INC	COM	032654105	3,827,468	21,860	SH		DFND	2	21,860	0	0
ELEVANCE HEALTH INC	COM	036752103	8,759,344	20,117	SH		DFND	1	20,117	0	0
ELEVANCE HEALTH INC	COM	036752103	4,251,005	9,763	SH		DFND	2	9,763	0	0
APPLE INC	COM	037833100	24,051,752	140,481	SH		DFND	1	140,481	0	0
APPLE INC	COM	037833100	2,800,996	16,360	SH		DFND	2	16,360	0	0
APPLIED MATLS INC	COM	038222105	10,977,701	79,290	SH		DFND	1	79,290	0	0
APPLIED MATLS INC	COM	038222105	4,857,519	35,085	SH		DFND	2	35,085	0	0
ARISTA NETWORKS INC	COM	040413106	505,808	2,750	SH		DFND	2	2,750	0	0
ASTRAZENECA PLC	SPONSORED ADR	046353108	20,316	300	SH		DFND	2	300	0	0
ASTRAZENECA PLC	SPONSORED ADR	046353108	341,647	5,045	SH		DFND	1	5,045	0	0
AUTOZONE INC	COM	053332102	761,997	300	SH		DFND	2	300	0	0
AVERY DENNISON CORP	COM	053611109	2,593,001	14,195	SH		DFND	1	14,195	0	0
AVERY DENNISON CORP	COM	053611109	3,163,844	17,320	SH		DFND	2	17,320	0	0
BANK AMERICA CORP	COM	060505104	7,666	280	SH		DFND	2	280	0	0
BANK AMERICA CORP	COM	060505104	1,985,461	72,515	SH		DFND	1	72,515	0	0
BANK MONTREAL QUE	COM	063671101	1,684,146	19,903	SH		DFND	1	19,903	0	0
BANK NOVA SCOTIA HALIFAX	COM	064149107	4,889,409	108,750	SH		DFND	1	108,750	0	0
BERKLEY W R CORP	COM	084423102	1,079,330	17,000	SH		DFND	2	17,000	0	0
BERKSHIRE HATHAWAY INC DEL	CL B NEW	084670702	2,809,406	8,020	SH		DFND	1	8,020	0	0
BOOZ ALLEN HAMILTON HLDG COR	CL A	099502106	3,924,978	35,920	SH		DFND	2	35,920	0	0
CAE INC	COM	124765108	3,747	160	SH		DFND	2	160	0	0
CAE INC	COM	124765108	1,044,206	44,590	SH		DFND	1	44,590	0	0
THE CIGNA GROUP	COM	125523100	45,771	160	SH		DFND	1	160	0	0
THE CIGNA GROUP	COM	125523100	572,140	2,000	SH		DFND	2	2,000	0	0
CVS HEALTH CORP	COM	126650100	9,077	130	SH		DFND	2	130	0	0
CVS HEALTH CORP	COM	126650100	2,599,050	37,225	SH		DFND	1	37,225	0	0
CANADIAN IMPERIAL BK COMM TO	COM	136069101	324,007	8,368	SH		DFND	1	8,368	0	0
CANADIAN NATL RY CO	COM	136375102	24,222,071	222,985	SH		DFND	1	222,985	0	0
CANADIAN NATL RY CO	COM	136375102	1,406,910	12,940	SH		DFND	2	12,940	0	0
CANADIAN NAT RES LTD	COM	136385101	1,837,576	28,327	SH		DFND	1	28,327	0	0
CANADIAN NAT RES LTD	COM	136385101	4,802,794	73,930	SH		DFND	2	73,930	0	0
DANAHER CORPORATION	COM	235851102	3,338,434	13,456	SH		DFND	1	13,456	0	0
DECKERS OUTDOOR CORP	COM	243537107	2,101,086	4,087	SH		DFND	1	4,087	0	0
DECKERS OUTDOOR CORP	COM	243537107	2,729,818	5,310	SH		DFND	2	5,310	0	0
DEERE & CO	COM	244199105	2,542,786	6,738	SH		DFND	1	6,738	0	0
DESCARTES SYS GROUP INC	COM	249906108	5,360,550	72,700	SH		DFND		72,700	0	0
DISCOVER FINL SVCS	COM	254709108	1,665,982	19,231	SH		DFND	1	19,231	0	0
DISCOVER FINL SVCS	COM	254709108	6,064	70	SH		DFND	2	70	0	0
EMERSON ELEC CO	COM	291011104	18,831	195	SH		DFND	2	195	0	0
EMERSON ELEC CO	COM	291011104	801,531	8,300	SH		DFND		8,300	0	0
EMERSON ELEC CO	COM	291011104	336,546	3,485	SH		DFND	1	3,485	0	0
ENERPLUS CORP	COM	292766102	618,713	35,000	SH		DFND		35,000	0	0
FAIR ISAAC CORP	COM	303250104	1,476,501	1,700	SH		DFND	2	1,700	0	0
FLEETCOR TECHNOLOGIES INC	COM	339041105	408,544	1,600	SH		DFND	2	1,600	0	0
FOMENTO ECONOMICO MEXICANO S	SPON ADR UNITS	344419106	1,637,250	15,000	SH		DFND	2	15,000	0	0
FORTIS INC	COM	349553107	1,064,616	27,900	SH		DFND		27,900	0	0
GALLAGHER ARTHUR J & CO	COM	363576109	16,062,911	70,473	SH		DFND	1	70,473	0	0
GALLAGHER ARTHUR J & CO	COM	363576109	7,550,181	33,125	SH		DFND	2	33,125	0	0
GENTEX CORP	COM	371901109	2,943,568	90,460	SH		DFND	2	90,460	0	0
GILDAN ACTIVEWEAR INC	COM	375916103	2,055,555	73,000	SH		DFND		73,000	0	0
GRANITE REAL ESTATE INVT TR	UNIT 99/99/9999	387437114	63,283	1,187	SH		DFND	2	1,187	0	0
GRANITE REAL ESTATE INVT TR	UNIT 99/99/9999	387437114	3,401,408	63,800	SH		DFND		63,800	0	0
HOME DEPOT INC	COM	437076102	8,762,338	28,999	SH		DFND	1	28,999	0	0
HOME DEPOT INC	COM	437076102	4,048,642	13,399	SH		DFND	2	13,399	0	0
HOWMET AEROSPACE INC	COM	443201108	3,530,263	76,330	SH		DFND	2	76,330	0	0
HUDBAY MINERALS INC	COM	443628102	2,550,130	521,600	SH		DFND		521,600	0	0
HUDBAY MINERALS INC	COM	443628102	798,126	163,500	SH		DFND	1	163,500	0	0
INTUIT	COM	461202103	58,758	115	SH		DFND	1	115	0	0
INTUIT	COM	461202103	1,149,615	2,250	SH		DFND	2	2,250	0	0
ISHARES TR	GL CLEAN ENE ETF	464288224	299,783	20,505	SH		DFND	2	20,505	0	0
KLA CORP	COM NEW	482480100	687,990	1,500	SH		DFND	2	1,500	0	0
KLA CORP	COM NEW	482480100	60,084	131	SH		DFND	1	131	0	0
KRANESHARES TR	KFA MOUNT LUCAS	500767652	616,583	18,931	SH		DFND	2	18,931	0	0
KRANESHARES TR	QUADRTC INT RT	500767736	298,141	14,501	SH		DFND	2	14,501	0	0
LEAR CORP	COM NEW	521865204	342,210	2,550	SH		DFND	1	2,550	0	0
LEAR CORP	COM NEW	521865204	20,130	150	SH		DFND	2	150	0	0
LIBERTY BROADBAND CORP	COM SER C	530307305	1,643,760	18,000	SH		DFND	2	18,000	0	0
ELI LILLY & CO	COM	532457108	437,761	815	SH		DFND	1	815	0	0
ELI LILLY & CO	COM	532457108	6,139,396	11,430	SH		DFND	2	11,430	0	0
LINCOLN ELEC HLDGS INC	COM	533900106	599,907	3,300	SH		DFND		3,300	0	0
LIVE NATION ENTERTAINMENT IN	COM	538034109	871,920	10,500	SH		DFND		10,500	0	0
LOWES COS INC	COM	548661107	2,640,399	12,704	SH		DFND	1	12,704	0	0
LOWES COS INC	COM	548661107	103,920	500	SH		DFND	2	500	0	0
LULULEMON ATHLETICA INC	COM	550021109	385,610	1,000	SH		DFND	2	1,000	0	0
MARKEL GROUP INC	COM	570535104	1,472,490	1,000	SH		DFND	2	1,000	0	0
MARKEL GROUP INC	COM	570535104	147,249	100	SH		DFND	1	100	0	0
MARSH & MCLENNAN COS INC	COM	571748102	22,574,718	118,627	SH		DFND	1	118,627	0	0
MARSH & MCLENNAN COS INC	COM	571748102	5,054,178	26,559	SH		DFND	2	26,559	0	0
MCDONALDS CORP	COM	580135101	91,150	346	SH		DFND	1	346	0	0
MCDONALDS CORP	COM	580135101	4,352,029	16,520	SH		DFND	2	16,520	0	0
MICROSOFT CORP	COM	594918104	40,283,069	127,579	SH		DFND	1	127,579	0	0
MICROSOFT CORP	COM	594918104	14,856,669	47,052	SH		DFND	2	47,052	0	0
MURPHY USA INC	COM	626755102	768,893	2,250	SH		DFND	2	2,250	0	0
NORTH AMERN CONSTR GROUP LTD	COM	656811106	4,534,223	208,300	SH		DFND		208,300	0	0
NOVO-NORDISK A S	ADR	670100205	148,232	1,630	SH		DFND	2	1,630	0	0
NOVO-NORDISK A S	ADR	670100205	8,378,666	92,134	SH		DFND	1	92,134	0	0
OPEN TEXT CORP	COM	683715106	3,520	100	SH		DFND	1	100	0	0
OPEN TEXT CORP	COM	683715106	606,453	17,200	SH		DFND		17,200	0	0
PARKER-HANNIFIN CORP	COM	701094104	1,935,914	4,970	SH		DFND	1	4,970	0	0
PARKER-HANNIFIN CORP	COM	701094104	1,616,508	4,150	SH		DFND		4,150	0	0
PARKER-HANNIFIN CORP	COM	701094104	2,448,133	6,285	SH		DFND	2	6,285	0	0
PEMBINA PIPELINE CORP	COM	706327103	4,491,046	148,905	SH		DFND	1	148,905	0	0
PEMBINA PIPELINE CORP	COM	706327103	12,064	400	SH		DFND	2	400	0	0
PEPSICO INC	COM	713448108	518,486	3,060	SH		DFND	1	3,060	0	0
PEPSICO INC	COM	713448108	4,984,077	29,415	SH		DFND	2	29,415	0	0
REPUBLIC SVCS INC	COM	760759100	1,695,869	11,900	SH		DFND		11,900	0	0
ROGERS COMMUNICATIONS INC	CL B	775109200	26,211,220	680,582	SH		DFND	1	680,582	0	0
ROGERS COMMUNICATIONS INC	CL B	775109200	535,207	13,905	SH		DFND	2	13,905	0	0
ROYAL BK CDA	COM	780087102	24,400,608	278,354	SH		DFND	1	278,354	0	0
ROYAL BK CDA	COM	780087102	3,406,479	38,800	SH		DFND		38,800	0	0
ROYAL BK CDA	COM	780087102	4,293,002	48,949	SH		DFND	2	48,949	0	0
SHERWIN WILLIAMS CO	COM	824348106	204,040	800	SH		DFND	2	800	0	0
STARBUCKS CORP	COM	855244109	85,794	940	SH		DFND	1	940	0	0
STARBUCKS CORP	COM	855244109	841,965	9,225	SH		DFND	2	9,225	0	0
SUN LIFE FINANCIAL INC.	COM	866796105	301,132	6,153	SH		DFND	1	6,153	0	0
SUN LIFE FINANCIAL INC.	COM	866796105	401,933	8,200	SH		DFND		8,200	0	0
SUNCOR ENERGY INC NEW	COM	867224107	7,417	215	SH		DFND	2	215	0	0
SUNCOR ENERGY INC NEW	COM	867224107	2,083,665	60,406	SH		DFND	1	60,406	0	0
SYNOPSYS INC	COM	871607107	413,073	900	SH		DFND	2	900	0	0
TCW STRATEGIC INCOME FD INC	COM	872340104	129,843	28,350	SH		DFND	1	28,350	0	0
TCW STRATEGIC INCOME FD INC	COM	872340104	30,663	6,695	SH		DFND	2	6,695	0	0
TAIWAN SEMICONDUCTOR MFG LTD	SPONSORED ADS	874039100	137,476	1,582	SH		DFND	1	1,582	0	0
TAIWAN SEMICONDUCTOR MFG LTD	SPONSORED ADS	874039100	3,685,864	42,415	SH		DFND	2	42,415	0	0
TECK RESOURCES LTD	CL B	878742204	874,251	20,250	SH		DFND	1	20,250	0	0
TEXAS INSTRS INC	COM	882508104	6,360	40	SH		DFND	1	40	0	0
TEXAS INSTRS INC	COM	882508104	2,746,102	17,270	SH		DFND	2	17,270	0	0
THERMO FISHER SCIENTIFIC INC	COM	883556102	19,896,024	39,307	SH		DFND	1	39,307	0	0
THERMO FISHER SCIENTIFIC INC	COM	883556102	5,718,709	11,298	SH		DFND	2	11,298	0	0
THOMSON REUTERS CORP.	COM	884903808	93,750	764	SH		DFND	2	764	0	0
THOMSON REUTERS CORP.	COM	884903808	27,065,714	220,567	SH		DFND	1	220,567	0	0
THOMSON REUTERS CORP.	COM	884903808	798,846	6,500	SH		DFND		6,500	0	0
TOLL BROTHERS INC	COM	889478103	5,366,538	72,560	SH		DFND	2	72,560	0	0
TORONTO DOMINION BK ONT	COM NEW	891160509	320,783	5,300	SH		DFND		5,300	0	0
TORONTO DOMINION BK ONT	COM NEW	891160509	5,607,883	92,797	SH		DFND	1	92,797	0	0
TORONTO DOMINION BK ONT	COM NEW	891160509	510,752	8,440	SH		DFND	2	8,440	0	0
TRANSDIGM GROUP INC	COM	893641100	548,035	650	SH		DFND	2	650	0	0
VANGUARD BD INDEX FDS	SHORT TRM BOND	921937827	777,634	10,345	SH		DFND	2	10,345	0	0
VANGUARD BD INDEX FDS	SHORT TRM BOND	921937827	49,612	660	SH		DFND	1	660	0	0
VANGUARD BD INDEX FDS	TOTAL BND MRKT	921937835	928,423	13,305	SH		DFND	1	13,305	0	0
VANGUARD BD INDEX FDS	TOTAL BND MRKT	921937835	757,811	10,860	SH		DFND	2	10,860	0	0
VANGUARD INTL EQUITY INDEX F	FTSE EMR MKT ETF	922042858	172,328	4,395	SH		DFND	1	4,395	0	0
VANGUARD INTL EQUITY INDEX F	FTSE EMR MKT ETF	922042858	2,548,454	64,995	SH		DFND	2	64,995	0	0
VEEVA SYS INC	CL A COM	922475108	915,525	4,500	SH		DFND	2	4,500	0	0
WALMART INC	COM	931142103	37,584	235	SH		DFND	2	235	0	0
WALMART INC	COM	931142103	3,498,469	21,875	SH		DFND	1	21,875	0	0
WARNER BROS DISCOVERY INC	COM SER A	934423104	686,124	63,179	SH		DFND	1	63,179	0	0
YUM BRANDS INC	COM	988498101	1,826,623	14,620	SH		DFND	1	14,620	0	0
YUM BRANDS INC	COM	988498101	2,308,267	18,475	SH		DFND	2	18,475	0	0
TARGET CORP	COM	87612E106	1,022,773	9,250	SH		DFND	1	9,250	0	0
FIRSTSERVICE CORP NEW	COM	33767E202	5,333,535	36,500	SH		DFND		36,500	0	0
ADOBE INC	COM	00724F101	2,167,075	4,250	SH		DFND	2	4,250	0	0
ADOBE INC	COM	00724F101	20,396	40	SH		DFND	1	40	0	0
ALLISON TRANSMISSION HLDGS I	COM	01973R101	1,358,380	23,000	SH		DFND	2	23,000	0	0
ALPHABET INC	CAP STK CL C	02079K107	31,037,226	235,398	SH		DFND	1	235,398	0	0
ALPHABET INC	CAP STK CL C	02079K107	5,889,080	44,665	SH		DFND	2	44,665	0	0
ALPHABET INC	CAP STK CL A	02079K305	1,753,524	13,400	SH		DFND		13,400	0	0
ALPHABET INC	CAP STK CL A	02079K305	7,451,823	56,945	SH		DFND	2	56,945	0	0
ALPHABET INC	CAP STK CL A	02079K305	3,783,686	28,914	SH		DFND	1	28,914	0	0
APOLLO GLOBAL MGMT INC	COM	03769M106	2,154,240	24,000	SH		DFND	2	24,000	0	0
ARES MANAGEMENT CORPORATION	CL A COM STK	03990B101	4,963,477	48,250	SH		DFND	2	48,250	0	0
ATLAS ENERGY SOLUTIONS INC	COM CLASS A	04930R107	1,531,180	68,879	SH		DFND	1	68,879	0	0
BCE INC	COM NEW	05534B760	44,035	1,150	SH		DFND	2	1,150	0	0
BCE INC	COM NEW	05534B760	1,913,695	49,900	SH		DFND		49,900	0	0
BCE INC	COM NEW	05534B760	1,057,685	27,622	SH		DFND	1	27,622	0	0
BRP INC	COM SUN VTG	05577W200	2,980,882	39,200	SH		DFND		39,200	0	0
BLACKROCK INCOME TR INC	COM NEW	09247F209	99,382	8,733	SH		DFND	1	8,733	0	0
BLACKROCK INCOME TR INC	COM NEW	09247F209	23,454	2,061	SH		DFND	2	2,061	0	0
BLACKROCK INC	COM	09247X101	2,431,449	3,761	SH		DFND	1	3,761	0	0
BLACKROCK INC	COM	09247X101	2,899,507	4,485	SH		DFND	2	4,485	0	0
BOOKING HOLDINGS INC	COM	09857L108	385,494	125	SH		DFND	2	125	0	0
BOOKING HOLDINGS INC	COM	09857L108	46,259	15	SH		DFND	1	15	0	0
BROADCOM INC	COM	11135F101	6,420,384	7,730	SH		DFND	2	7,730	0	0
CBOE GLOBAL MKTS INC	COM	12503M108	546,735	3,500	SH		DFND	2	3,500	0	0
CAMECO CORP	COM	13321L108	3,501,264	87,976	SH		DFND	1	87,976	0	0
CAMECO CORP	COM	13321L108	183,354	4,600	SH		DFND		4,600	0	0
CAMECO CORP	COM	13321L108	7,546,352	189,340	SH		DFND	2	189,340	0	0
CANADIAN PACIFIC KANSAS CITY	COM	13646K108	657,136	8,800	SH		DFND		8,800	0	0
CANADIAN PACIFIC KANSAS CITY	COM	13646K108	2,997,863	40,200	SH		DFND	2	40,200	0	0
CANADIAN PACIFIC KANSAS CITY	COM	13646K108	30,120,504	403,987	SH		DFND	1	403,987	0	0
CARDINAL HEALTH INC	COM	14149Y108	803,085	9,250	SH		DFND	2	9,250	0	0
CARDINAL HEALTH INC	COM	14149Y108	32,037	369	SH		DFND	1	369	0	0
CELESTICA INC	SUB VTG SHS	15101Q108	476,964	19,400	SH		DFND		19,400	0	0
COMCAST CORP NEW	CL A	20030N101	68,151	1,537	SH		DFND	1	1,537	0	0
COMCAST CORP NEW	CL A	20030N101	1,551,900	35,000	SH		DFND	2	35,000	0	0
CONSTELLATION BRANDS INC	CL A	21036P108	8,797	35	SH		DFND	1	35	0	0
CONSTELLATION BRANDS INC	CL A	21036P108	1,256,650	5,000	SH		DFND	2	5,000	0	0
COSTCO WHSL CORP NEW	COM	22160K105	21,833,444	38,646	SH		DFND	1	38,646	0	0
COSTCO WHSL CORP NEW	COM	22160K105	8,941,057	15,826	SH		DFND	2	15,826	0	0
DOMINOS PIZZA INC	COM	25754A201	625,004	1,650	SH		DFND	2	1,650	0	0
EMCOR GROUP INC	COM	29084Q100	1,094,028	5,200	SH		DFND	2	5,200	0	0
ENBRIDGE INC	COM	29250N105	2,425,769	72,800	SH		DFND		72,800	0	0
ENBRIDGE INC	COM	29250N105	618,615	18,594	SH		DFND	1	18,594	0	0
ENERGY TRANSFER L P	COM UT LTD PTN	29273V100	5,144,871	366,705	SH		DFND	1	366,705	0	0
META PLATFORMS INC	CL A	30303M102	30,484,824	101,545	SH		DFND	1	101,545	0	0
META PLATFORMS INC	CL A	30303M102	6,774,239	22,565	SH		DFND	2	22,565	0	0
FREEPORT-MCMORAN INC	CL B	35671D857	2,312,167	62,005	SH		DFND	2	62,005	0	0
GENERAL MTRS CO	COM	37045V100	10,808,061	327,815	SH		DFND	1	327,815	0	0
GENERAL MTRS CO	COM	37045V100	2,314,989	70,215	SH		DFND	2	70,215	0	0
HCA HEALTHCARE INC	COM	40412C101	32,469	132	SH		DFND	1	132	0	0
HCA HEALTHCARE INC	COM	40412C101	1,475,880	6,000	SH		DFND	2	6,000	0	0
HILTON WORLDWIDE HLDGS INC	COM	43300A203	1,802,160	12,000	SH		DFND	2	12,000	0	0
INTERACTIVE BROKERS GROUP IN	COM CL A	45841N107	1,731,200	20,000	SH		DFND	2	20,000	0	0
INTERCONTINENTAL EXCHANGE IN	COM	45866F104	220,040	2,000	SH		DFND	2	2,000	0	0
INVESCO EXCHANGE TRADED FD T	LEISURE AND ENTE	46137V720	389,140	10,155	SH		DFND	2	10,155	0	0
INVESCO EXCH TRADED FD TR II	S&P 500 HB ETF	46138E370	2,053,930	29,300	SH		DFND	2	29,300	0	0
INVESCO EXCH TRADED FD TR II	SR LN ETF	46138G508	419,800	20,000	SH		DFND		20,000	0	0
IQVIA HLDGS INC	COM	46266C105	19,675	100	SH		DFND	2	100	0	0
IQVIA HLDGS INC	COM	46266C105	332,508	1,690	SH		DFND	1	1,690	0	0
KEYSIGHT TECHNOLOGIES INC	COM	49338L103	1,722,015	13,015	SH		DFND	1	13,015	0	0
KEYSIGHT TECHNOLOGIES INC	COM	49338L103	1,968,773	14,880	SH		DFND	2	14,880	0	0
LPL FINL HLDGS INC	COM	50212V100	475,300	2,000	SH		DFND	2	2,000	0	0
MSCI INC	COM	55354G100	2,223,176	4,333	SH		DFND	1	4,333	0	0
MANULIFE FINL CORP	COM	56501R106	106,954	5,835	SH		DFND	1	5,835	0	0
MANULIFE FINL CORP	COM	56501R106	227,639	12,400	SH		DFND		12,400	0	0
MASTERCARD INCORPORATED	CL A	57636Q104	338,503	855	SH		DFND	1	855	0	0
MASTERCARD INCORPORATED	CL A	57636Q104	9,577,063	24,190	SH		DFND	2	24,190	0	0
MATCH GROUP INC NEW	COM	57667L107	313,400	8,000	SH		DFND	2	8,000	0	0
MCKESSON CORP	COM	58155Q103	82,622	190	SH		DFND	1	190	0	0
MCKESSON CORP	COM	58155Q103	5,263,425	12,104	SH		DFND	2	12,104	0	0
MEDPACE HLDGS INC	COM	58506Q109	907,988	3,750	SH		DFND	2	3,750	0	0
MERCADOLIBRE INC	COM	58733R102	1,775,032	1,400	SH		DFND	2	1,400	0	0
NVR INC	COM	62944T105	1,490,825	250	SH		DFND	2	250	0	0
NVIDIA CORPORATION	COM	67066G104	138,762	319	SH		DFND	1	319	0	0
NVIDIA CORPORATION	COM	67066G104	108,748	250	SH		DFND	2	250	0	0
OREILLY AUTOMOTIVE INC	COM	67103H107	636,202	700	SH		DFND	2	700	0	0
ORACLE CORP	COM	68389X105	8,198,420	77,402	SH		DFND	1	77,402	0	0
ORACLE CORP	COM	68389X105	730,848	6,900	SH		DFND		6,900	0	0
ORACLE CORP	COM	68389X105	6,035,322	56,980	SH		DFND	2	56,980	0	0
S&P GLOBAL INC	COM	78409V104	22,446,040	61,427	SH		DFND	1	61,427	0	0
S&P GLOBAL INC	COM	78409V104	11,990,930	32,815	SH		DFND	2	32,815	0	0
SPDR GOLD TR	GOLD SHS	78463V107	805,815	4,700	SH		DFND		4,700	0	0
SPDR GOLD TR	GOLD SHS	78463V107	1,870,520	10,910	SH		DFND	1	10,910	0	0
SPDR GOLD TR	GOLD SHS	78463V107	6,001	35	SH		DFND	2	35	0	0
SPDR SER TR	BLOOMBERG SHT TE	78468R408	1,859,547	76,024	SH		DFND	2	76,024	0	0
SPDR SER TR	BLOOMBERG 1-3 MO	78468R663	58,306	635	SH		DFND	2	635	0	0
SPDR SER TR	BLOOMBERG 1-3 MO	78468R663	183,640	2,000	SH		DFND	1	2,000	0	0
SALESFORCE INC	COM	79466L302	2,027,800	10,000	SH		DFND	2	10,000	0	0
SALESFORCE INC	COM	79466L302	20,278	100	SH		DFND	1	100	0	0
SELECT SECTOR SPDR TR	SBI CONS DISCR	81369Y407	460,403	2,860	SH		DFND	2	2,860	0	0
SERVICENOW INC	COM	81762P102	838,440	1,500	SH		DFND	2	1,500	0	0
SIMPLIFY EXCHANGE TRADED FUN	VOLATILITY PREM	82889N863	5,103,715	226,731	SH		DFND	1	226,731	0	0
SIMPLIFY EXCHANGE TRADED FUN	VOLATILITY PREM	82889N863	543,662	24,152	SH		DFND	2	24,152	0	0
SPROUTS FMRS MKT INC	COM	85208M102	749,000	17,500	SH		DFND	2	17,500	0	0
STAG INDL INC	COM	85254J102	4,573,093	132,515	SH		DFND	2	132,515	0	0
STANTEC INC	COM	85472N109	319,406	4,900	SH		DFND		4,900	0	0
STANTEC INC	COM	85472N109	58,015	890	SH		DFND	2	890	0	0
TELUS CORPORATION	COM	87971M103	367,141	22,414	SH		DFND	1	22,414	0	0
TELUS CORPORATION	COM	87971M103	0	0	SH		DFND	2	0	0	0
TEMPUR SEALY INTL INC	COM	88023U101	49,711	1,147	SH		DFND	1	1,147	0	0
TEMPUR SEALY INTL INC	COM	88023U101	5,759,236	132,885	SH		DFND	2	132,885	0	0
TESLA INC	COM	88160R101	233,705	934	SH		DFND	1	934	0	0
TEXAS PACIFIC LAND CORPORATI	COM	88262P102	1,276,492	700	SH		DFND	2	700	0	0
UNITEDHEALTH GROUP INC	COM	91324P102	1,613,408	3,200	SH		DFND		3,200	0	0
UNITEDHEALTH GROUP INC	COM	91324P102	22,151,588	43,935	SH		DFND	1	43,935	0	0
UNITEDHEALTH GROUP INC	COM	91324P102	8,676,606	17,209	SH		DFND	2	17,209	0	0
VANGUARD SCOTTSDALE FDS	SHRT TRM CORP BD	92206C409	2,588,918	34,450	SH		DFND	1	34,450	0	0
VANGUARD SCOTTSDALE FDS	SHRT TRM CORP BD	92206C409	405,810	5,400	SH		DFND	2	5,400	0	0
VISA INC	COM CL A	92826C839	24,780,817	107,738	SH		DFND	1	107,738	0	0
VISA INC	COM CL A	92826C839	1,449,063	6,300	SH		DFND		6,300	0	0
VISA INC	COM CL A	92826C839	9,265,493	40,283	SH		DFND	2	40,283	0	0
WASTE CONNECTIONS INC	COM	94106B101	4,754,165	35,245	SH		DFND	2	35,245	0	0
WASTE CONNECTIONS INC	COM	94106B101	1,847,980	13,700	SH		DFND		13,700	0	0
YUM CHINA HLDGS INC	COM	98850P109	107,261	1,925	SH		DFND	1	1,925	0	0
YUM CHINA HLDGS INC	COM	98850P109	2,253,038	40,435	SH		DFND	2	40,435	0	0
AON PLC	SHS CL A	G0403H108	420,189	1,296	SH		DFND	1	1,296	0	0
AON PLC	SHS CL A	G0403H108	11,145,063	34,375	SH		DFND	2	34,375	0	0
ARCH CAP GROUP LTD	ORD	G0450A105	996,375	12,500	SH		DFND	2	12,500	0	0
ACCENTURE PLC IRELAND	SHS CLASS A	G1151C101	3,708,967	12,077	SH		DFND	1	12,077	0	0
ACCENTURE PLC IRELAND	SHS CLASS A	G1151C101	14,828,192	48,283	SH		DFND	2	48,283	0	0
COCA-COLA EUROPACIFIC PARTNE	SHS	G25839104	406,120	6,500	SH		DFND	2	6,500	0	0
EATON CORP PLC	SHS	G29183103	28,976,008	135,859	SH		DFND	1	135,859	0	0
EATON CORP PLC	SHS	G29183103	13,004,748	60,975	SH		DFND	2	60,975	0	0
FERGUSON PLC NEW	SHS	G3421J106	3,704,611	22,325	SH		DFND	2	22,325	0	0
FERGUSON PLC NEW	SHS	G3421J106	261,319	1,575	SH		DFND	1	1,575	0	0
ICON PLC	SHS	G4705A100	1,354,375	5,500	SH		DFND	2	5,500	0	0
LINDE PLC	SHS	G54950103	19,898,756	53,441	SH		DFND	1	53,441	0	0
LINDE PLC	SHS	G54950103	8,403,940	22,570	SH		DFND	2	22,570	0	0
WIX COM LTD	SHS	M98068105	459,000	5,000	SH		DFND	2	5,000	0	0
ASML HOLDING N V	N Y REGISTRY SHS	N07059210	2,368,179	4,023	SH		DFND	1	4,023	0	0
ASML HOLDING N V	N Y REGISTRY SHS	N07059210	1,589,382	2,700	SH		DFND	2	2,700	0	0