AceShowbiz - No more Leonardo DiCaprio and Gigi Hadid? If a new report is to be believed, the "Titanic" actor and the supermodel "have respect" for one another amid rumors that he's dating Victoria Lamas.

On Friday, January 6, Entertainment Tonight reported that the Oscar-winning actor and the catwalk beauty "are doing their own things." A source spilled to the outlet, "Leo and Gigi have enjoyed their time together when they're able to see each other, but when they're busy with various commitments, they're doing their own things."

The so-called insider further stressed that "they are not exclusive." The informant went on to explain, "They have respect for one another and have always just been seeing where things go." All the while, Gigi "is feeling balanced, happy, and focusing her energy on her career and daughter." She shares 2-year-old daughter Khai with her ex Zayn Malik.

Also on Friday, Gigi was spotted looking in good spirits during an outing in New York City. The 27-year-old beauty looked chic and warm in a quilted oversized tan trench coat over a gray turtleneck sweater and white pants. She paired the ensemble with winter-friendly brown boots and brown-tinted sunglasses.

The outing marks Gigi's first public sighting since Leo sparked up a new romance with Victoria. Last month, the "Don't Look Up" actor was snapped enjoying dinner with the 23-year-old brunette beauty at Bird Streets Club. They're also seen celebrating New Year's Eve together on a yacht in St. Barts.

Before ringing in 2023 together, Victoria's famous dad Lorenzo said in an interview that his daughter is "very smitten" with Leo and that she "likes him very much." The "Falcon Crest" actor even said, "I'm excited for her. I know that it's been a while since she's had a serious relationship. She's got a big heart and she tends to give it freely." However, before his statement was misunderstood, he clarified that "they're friends, they're not in a serious relationship."