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
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 FIGI (to the nearest dollar) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
AT&T INC COM 00206R102   998,830 66,500 SH   DFND   0 66,500 0
AIRBNB INC NOTE 3/1 009066AB7   1,549,100 1,750,000 PRN   DFND   0 1,750,000 0
AIR PRODS & CHEMS INC COM 009158106   6,186,905 21,831 SH   DFND   0 21,831 0
ALPHABET INC CAP STK CL C 02079K107   2,228,265 16,900 SH   DFND   0 16,900 0
ALPHABET INC CAP STK CL A 02079K305   3,433,636 26,239 SH   DFND   0 26,239 0
ALTICE USA INC CL A 02156K103   192,276 58,800 SH   DFND   0 58,800 0
AMAZON COM INC COM 023135106   1,198,233 9,426 SH   DFND   0 9,426 0
ANYWHERE REAL ESTATE INC COM 75605Y106   385,800 60,000 SH   DFND   0 60,000 0
APPLE INC COM 037833100   16,759,918 97,891 SH   DFND   0 97,891 0
APPLOVIN CORP COM CL A 03831W108   6,885,987 172,322 SH   DFND   0 172,322 0
ASHLAND INC COM 044186104   1,640,624 20,086 SH   DFND   0 20,086 0
BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702   11,647,475 33,250 SH   DFND   0 33,250 0
CHARTER COMMUNICATIONS INC N CL A 16119P108   1,143,532 2,600 SH   DFND   0 2,600 0
DANAHER CORPORATION COM 235851102   4,629,545 21,052 SH   DFND   0 21,052 0
DOVER CORP COM 260003108   1,806,375 12,948 SH   DFND   0 12,948 0
EXPEDIA GROUP INC COM NEW 30212P303   2,275,373 22,076 SH   DFND   0 22,076 0
FRANCO NEV CORP COM 351858105   1,802,115 13,500 SH   DFND   0 13,500 0
GOLDMAN SACHS GROUP INC COM 38141G104   494,091 1,527 SH   DFND   0 1,527 0
HEICO CORP NEW COM 422806109   1,259,492 7,778 SH   DFND   0 7,778 0
HOME DEPOT INC COM 437076102   1,767,636 5,850 SH   DFND   0 5,850 0
IAC INC COM NEW 44891N208   3,078,325 61,090 SH   DFND   0 61,090 0
JPMORGAN CHASE & CO COM 46625H100   3,625,500 25,000 SH   DFND   0 25,000 0
JOHNSON & JOHNSON COM 478160104   1,199,275 7,700 SH   DFND   0 7,700 0
KINETIK HOLDINGS INC COM NEW CL A 02215L209   489,375 14,500 SH   DFND   0 14,500 0
LAS VEGAS SANDS CORP COM 517834107   2,135,273 46,581 SH   DFND   0 46,581 0
LIGHT & WONDER INC COM 80874P109   4,006,035 56,162 SH   DFND   0 56,162 0
LITTELFUSE INC COM 537008104   1,154,737 4,669 SH   DFND   0 4,669 0
META PLATFORMS INC CL A 30303M102   1,211,948 4,037 SH   DFND   0 4,037 0
MGM RESORTS INTERNATIONAL COM 552953101   4,059,407 110,430 SH   DFND   0 110,430 0
MICROSOFT CORP COM 594918104   8,518,619 26,979 SH   DFND   0 26,979 0
OREILLY AUTOMOTIVE INC COM 67103H107   2,678,410 2,947 SH   DFND   0 2,947 0
ORACLE CORPORATION COM 68389X105   1,125,294 10,624 SH   DFND   0 10,624 0
PETIQ INC COM CL A 71639T106   38,861,934 1,972,687 SH   DFND   0 1,972,687 0
PLAINS GP HLDGS LP LTD PARTNR INT A 72651A207   854,360 53,000 SH   DFND   0 53,000 0
ROPER TECHNOLOGIES INC COM 776696106   1,792,320 3,701 SH   DFND   0 3,701 0
SPDR S&P 500 ETF TR TR UNIT 78462F103   59,931,841 140,198 SH   DFND   0 140,198 0
SCHLUMBERGER LTD COM STK 806857108   460,570 7,900 SH   DFND   0 7,900 0
TE CONNECTIVITY LTD SHS H84989104   1,507,313 12,202 SH   DFND   0 12,202 0
TRANSDIGM GROUP INC COM 893641100   2,556,370 3,032 SH   DFND   0 3,032 0
U S SILICA HLDGS INC COM 90346E103   842,400 60,000 SH   DFND   0 60,000 0
UBER TECHNOLOGIES INC NOTE 12/1 90353TAJ9   1,400,250 1,500,000 PRN   DFND   0 1,500,000 0
WARNER BROS DISCOVERY INC COM SER A 934423104   174,705 16,087 SH   DFND   0 16,087 0
WATERS CORP COM 941848103   2,248,796 8,201 SH   DFND   0 8,201 0
WELLS FARGO CO NEW COM 949746101   1,123,650 27,500 SH   DFND   0 27,500 0