Veredus Asset Management 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
AARON'S INC	CS	002535300	14,285	222,311	SH		SOLE	0	30,544	0	191,767
ABBVIE	CS	00287Y109	26,042	343,931	SH		SOLE	0	63,289	0	280,642
AERCAP HOLDINGS N.V.	CS	N00985106	2,422	44,230	SH		DFND	0	43,700	0	530
AERCAP HOLDINGS NV	CS	N00985106	23,659	432,133	SH		SOLE	0	126,633	0	305,500
ALEXION PHARMACEUTICALS	CS	015351109	207	2,117	SH		SOLE	0	0	0	2,117
ALIBABA GROUP HLDG LTD	CS	01609W102	1,669	9,982	SH		DFND	0	9,866	0	116
ALIBABA GROUP HOLDING	CS	01609W102	17,023	101,791	SH		SOLE	0	31,391	0	70,400
ALLERGAN PLC SHS	CS	G0177J108	1,848	10,982	SH		DFND	0	10,851	0	131
ALLERGAN, INC	CS	G0177J108	18,379	109,208	SH		SOLE	0	32,608	0	76,600
ALLIANZ AKTIENGESELLSCHAF ADR	CS	018805101	1,699	73,254	SH		SOLE	0	59,876	0	13,378
ALPHABET INC	CS	02079K305	40,693	33,324	SH		SOLE	0	4,551	0	28,773
ALTRIA GROUP INC COM	CS	02209S103	16,172	395,409	SH		SOLE	0	71,811	0	323,598
AMDOCS LIMITED ORD	CS	G02602103	1,724	26,077	SH		DFND	0	25,772	0	305
AMDOCS LTD	CS	G02602103	17,949	271,500	SH		SOLE	0	84,000	0	187,500
AMERICAN EXPRESS CO	CS	025816109	30,036	253,940	SH		SOLE	0	35,246	0	218,694
AMERIPRISE FINANCIAL INC	CS	03076C106	37,550	255,272	SH		SOLE	0	34,210	0	221,062
AMERISOURCE BERGEN CORP	CS	03073E105	14,095	171,209	SH		SOLE	0	22,600	0	148,609
AMGEN INC	CS	031162100	55,780	288,252	SH		SOLE	0	28,910	0	259,342
ANTHEM, INC	CS	036752103	21,704	90,394	SH		SOLE	0	12,340	0	78,054
AON CORP.	CS	G0408V102	15,279	78,928	SH		SOLE	0	23,921	0	55,007
AON PLC SHS CL-A	CS	G0408V102	1,517	7,839	SH		DFND	0	7,741	0	98
APPLE COMPUTER INC	CS	037833100	54,507	243,366	SH		SOLE	0	34,281	0	209,085
APTIV PLC	CS	G6095L109	2,428	27,769	SH		DFND	0	27,444	0	325
APTIV PLC ORDINARY	CS	G6095L109	62,574	715,785	SH		SOLE	0	147,281	0	568,504
ARCONIC INC	CS	03965L100	15,547	597,956	SH		SOLE	0	2,356	0	595,600
ASHLAND GLOBAL HOLDINGS INC	CS	044209104	201	2,606	SH		SOLE	0	2,606	0	0
ASHTEAD GROUP PLC ADR	CS	045055100	2,389	21,437	SH		DFND	0	21,182	0	255
ASHTEAD GROUP PLC UNSP	CS	045055100	26,712	239,705	SH		SOLE	0	65,905	0	173,800
ASTRAZENECA PLC-SPONS ADR	CS	046353108	1,549	34,762	SH		SOLE	0	34,762	0	0
AT&T INC COM	CS	00206R102	1,803	47,639	SH		SOLE	0	33,387	0	14,252
AUTOZONE INC	CS	053332102	33,085	30,504	SH		SOLE	0	4,179	0	26,325
AXA ADS	CS	054536107	1,209	47,651	SH		DFND	0	47,114	0	537
AXA- SPONS ADR	CS	054536107	14,610	575,741	SH		SOLE	0	199,988	0	375,753
B A S F A G	CS	055262505	9,939	570,215	SH		SOLE	0	171,315	0	398,900
BANCO DO BRASIL SA SPNS	CS	059578104	2,379	216,260	SH		SOLE	0	0	0	216,260
BANCO SANTANDER CHILE	CS	05965X109	1,652	58,989	SH		DFND	0	58,300	0	689
BANCO SANTANDER CHILE NEW	CS	05965X109	16,582	592,229	SH		SOLE	0	181,329	0	410,900
BANK NOVA SCOTIA HALIFAX	CS	064149107	1,191	20,947	SH		SOLE	0	17,227	0	3,720
BANK OF AMERICA CORPORATION	CS	060505104	43,936	1,506,217	SH		SOLE	0	205,552	0	1,300,665
BANK OF MONTREAL	CS	063671101	15,354	208,189	SH		SOLE	0	63,289	0	144,900
BANK RAKYAT ADR	CS	69366X100	2,628	179,740	SH		SOLE	0	0	0	179,740
BASF SE SP ADR	CS	055262505	1,163	66,712	SH		DFND	0	65,997	0	715
BEST BUY INC COM	CS	086516101	14,524	210,528	SH		SOLE	0	828	0	209,700
BIOGEN IDEC INC	CS	09062x103	12,768	54,838	SH		SOLE	0	6,639	0	48,199
BK MONTREAL	CS	063671101	1,462	19,830	SH		DFND	0	19,602	0	228
BLACKROCK INC	CS	09247X101	266	596	SH		SOLE	0	386	0	210
BNP PARIBAS PA ADR	CS	05565A202	14,658	603,977	SH		SOLE	0	178,877	0	425,100
BNP PARIBAS SP ADR REPSTG	CS	05565A202	1,465	60,362	SH		DFND	0	59,652	0	710
BOOKING HOLDINGS INC	CS	09857L108	40,151	20,458	SH		SOLE	0	2,794	0	17,664
BRITISH AMER TOB SPON ADR	CS	110448107	588	15,944	SH		DFND	0	15,749	0	195
BRITISH AMERN TOB PLC ADR	CS	110448107	6,143	166,483	SH		SOLE	0	41,583	0	124,900
BROADCOM LTD	CS	11135F101	28,132	101,902	SH		SOLE	0	18,925	0	82,977
BROWN FORMAN CL B	CS	115637209	206	3,279	SH		SOLE	0	937	0	2,342
CANADIAN NATL RAILWAY CO	CS	136375102	1,466	16,312	SH		DFND	0	16,112	0	200
CANADIAN NATL RY CO	CS	136375102	16,105	179,229	SH		SOLE	0	54,029	0	125,200
CANADIAN SOLAR INC.	CS	136635109	2,715	143,800	SH		SOLE	0	0	0	143,800
CAPRI HOLDINGS LTD	CS	G1890L107	2,663	80,300	SH		SOLE	0	0	0	80,300
CARNIVAL CORP-CL A	CS	143658300	25,927	593,140	SH		SOLE	0	78,634	0	514,506
CARNIVAL PLC	CS	14365C103	13,881	329,945	SH		SOLE	0	98,245	0	231,700
CARNIVAL PLC	CS	14365C103	1,370	32,572	SH		DFND	0	32,180	0	392
CHEVRON CORP NEW COM	CS	166764100	36,148	304,787	SH		SOLE	0	49,747	0	255,040
CHINA COMM CONST GRP	CS	168926103	7,014	442,268	SH		SOLE	0	133,668	0	308,600
CHINA COMMUNICATIONS CONSTR CO	CS	168926103	710	44,737	SH		DFND	0	44,291	0	446
CHINA OVERSEAS LAN UNSPN ADR	CS	169403201	778	49,760	SH		DFND	0	49,126	0	634
CHINA OVERSEAS LAND & INVESTME	CS	169403201	7,742	495,286	SH		SOLE	0	148,886	0	346,400
CISCO SYS INC COM	CS	17275R102	40,285	815,329	SH		SOLE	0	111,639	0	703,690
CITIZENS FINANCIAL GROUP INC	CS	174610105	49,093	1,387,989	SH		SOLE	0	190,098	0	1,197,891
CNOOC LTD	CS	126132109	23,789	156,246	SH		SOLE	0	47,046	0	109,200
CNOOC LTD ADS	CS	126132109	2,151	14,126	SH		DFND	0	13,956	0	170
COGNIZANT TECH	CS	192446102	16,925	280,845	SH		SOLE	0	37,210	0	243,635
COMCAST CORP CL A	CS	20030N101	9,159	203,165	SH		SOLE	0	27,976	0	175,189
CONOCOPHILLIPS	CS	20825C104	23,314	409,155	SH		SOLE	0	56,229	0	352,926
CORESITE REALTY CORP.	CS	21870Q105	17,769	145,832	SH		SOLE	0	19,366	0	126,466
CORNING INC	CS	219350105	12,902	452,385	SH		SOLE	0	1,185	0	451,200
CRH PLC ADR	CS	12626K203	18,214	530,105	SH		SOLE	0	164,105	0	366,000
CRH PLC ADR	CS	12626K203	1,779	51,788	SH		DFND	0	51,185	0	603
CRITEO SA ADS	CS	226718104	3,112	166,500	SH		SOLE	0	0	0	166,500
CUMMINS INC.	CS	231021106	14,686	90,278	SH		SOLE	0	478	0	89,800
DANONE SPON ADR	CS	23636T100	20,299	1,154,927	SH		SOLE	0	351,127	0	803,800
DANONE SPONSORED ADR	CS	23636T100	2,035	116,088	SH		DFND	0	114,729	0	1,359
DBS GROUP HOLDINGS LTD	CS	23304Y100	22,472	310,182	SH		SOLE	0	95,082	0	215,100
DBS GROUP HOLDINGS LTD SP	CS	23304Y100	2,231	30,798	SH		DFND	0	30,449	0	349
DELTA AIRLINES	CS	247361702	25,404	441,038	SH		SOLE	0	60,718	0	380,320
DOLLAR GENERAL CORP	CS	256677105	18,032	113,451	SH		SOLE	0	451	0	113,000
EASTMAN CHEMICAL CO	CS	277432100	19,205	260,126	SH		SOLE	0	33,746	0	226,380
EATON CORP PLC	CS	G29183103	2,048	24,627	SH		SOLE	0	20,163	0	4,464
EATON VANCE MUNICIPAL BD	CS	27827X101	296	22,829	SH		SOLE	0	22,829	0	0
EBAY INC	CS	278642103	15,101	387,414	SH		SOLE	0	1,014	0	386,400
ELI LILLY & CO	CS	532457108	15,672	140,145	SH		SOLE	0	545	0	139,600
EMERSON ELEC CO COM	CS	291011104	213	3,193	SH		SOLE	0	0	0	3,193
ENI S P A	CS	26874R108	20,308	666,068	SH		SOLE	0	204,168	0	461,900
ENI SPA AMER DEP RCPT	CS	26874R108	1,764	57,857	SH		DFND	0	57,095	0	762
ENTERPRISE PRODUCTS PARTNERS	LTD PARTN	293792107	200	7,000	SH		SOLE	0	7,000	0	0
EXXON MOBIL	CS	30231G102	780	11,042	SH		SOLE	0	6,674	0	4,368
F5 NETWORKS	CS	315616102	44,293	315,431	SH		SOLE	0	29,013	0	286,418
FASTENAL CO	CS	311900104	15,475	473,666	SH		SOLE	0	1,866	0	471,800
FIFTH THIRD BANCORP	CS	316773100	20,974	766,008	SH		SOLE	0	105,314	0	660,694
FIRST FINANCIAL BANCORP	CS	320209109	523	21,364	SH		SOLE	0	21,364	0	0
FRONTLINE LTD	CS	G3682E192	3,391	372,600	SH		SOLE	0	0	0	372,600
FUJIFILM HLDGS CORP ADR	CS	35958N107	1,983	45,115	SH		DFND	0	44,575	0	540
FUJIFILM HOLDINGS CORP	CS	35958N107	20,497	466,423	SH		SOLE	0	139,923	0	326,500
GENERAL MILLS	CS	370334104	2,565	46,537	SH		SOLE	0	34,811	0	11,726
GLAXOSMITHKLINE PLC	CS	37733W105	971	22,739	SH		SOLE	0	22,739	0	0
GOLD FIELDS INC	CS	38059T106	2,796	568,200	SH		SOLE	0	0	0	568,200
GOLDMAN SACHS BDC	CS	38147U107	401	19,950	SH		SOLE	0	19,950	0	0
GRIFOLS SA ADR	CS	398438408	1,675	83,588	SH		DFND	0	82,550	0	1,038
GRIFOLS, S.A. ADR	CS	398438408	15,910	796,068	SH		SOLE	0	236,968	0	559,100
HCA HEALTHCARE INC	CS	40412C101	13,800	114,598	SH		SOLE	0	298	0	114,300
HDFC BANK LTD	CS	40415F101	20,135	352,928	SH		SOLE	0	107,328	0	245,600
HDFC BANK LTD ADR	CS	40415F101	2,002	35,098	SH		DFND	0	34,674	0	424
HEWLETT PACKARD ENTERPRISE CO	CS	42824C109	15,389	1,014,459	SH		SOLE	0	4,464	0	1,009,995
HOME DEPOT	CS	437076102	56,929	245,363	SH		SOLE	0	24,191	0	221,172
HSBC HLDGS PLC ADR	CS	404280406	1,513	39,021	SH		SOLE	0	32,566	0	6,455
HUAZHU GROUP LTD	CS	44332N106	208	6,305	SH		SOLE	0	6,305	0	0
ICON PLC	CS	G4705A100	1,156	7,847	SH		DFND	0	7,748	0	99
ICON PLC - AMERICAN DEPOSITARY	CS	G4705A100	11,504	78,078	SH		SOLE	0	24,178	0	53,900
IHS MARKIT LTD	CS	G47567105	25,063	374,749	SH		SOLE	0	115,249	0	259,500
IHS MARKIT LTD	CS	G47567105	2,596	38,816	SH		DFND	0	38,318	0	498
ILLINOIS TOOL WKS INC COM	CS	452308109	38,277	244,599	SH		SOLE	0	33,785	0	210,814
IMPERIAL OIL LTD CL A	CS	453038408	2,705	103,910	SH		SOLE	0	0	0	103,910
INFOSYS LIMITED ADR	CS	456788108	1,240	109,072	SH		DFND	0	107,706	0	1,366
INFOSYS TECHNOLOGIES LTD	CS	456788108	13,985	1,230,021	SH		SOLE	0	375,521	0	854,500
ING GROEP NV ADR	CS	456837103	1,086	103,929	SH		DFND	0	102,557	0	1,372
ING GROUP N V	CS	456837103	13,338	1,276,348	SH		SOLE	0	452,303	0	824,045
INTEL CORP	CS	458140100	42,512	824,983	SH		SOLE	0	113,190	0	711,793
INTL. BUSINESS MACHS CO	CS	459200101	286	1,965	SH		SOLE	0	0	0	1,965
IQVIA HOLDINGS INC	CS	46266C105	37,832	253,264	SH		SOLE	0	34,779	0	218,485
ISHARES BARCLAYS TIPS BOND FUN	ETF	464287176	239	2,060	SH		SOLE	0	2,060	0	0
ISHARES MSCI ACWI EX US ETF	ETF	464288240	1,546	33,562	SH		DFND	0	33,543	0	19
ISHARES NATIONAL MUNI BOND ETF	ETF	464288414	653	5,730	SH		SOLE	0	0	0	5,730
ISHARES TR	ETF	464287242	233	1,830	SH		SOLE	0	1,830	0	0
ISUZU MOTORS LTD	CS	465254209	2,902	265,300	SH		SOLE	0	0	0	265,300
ITAU UNIBANCO HOLDINGS SA	CS	465562106	17,291	2,055,943	SH		SOLE	0	535,343	0	1,520,600
ITAU UNIBANCO MULTIPLE ADR	CS	465562106	1,368	162,682	SH		DFND	0	160,800	0	1,882
J P MORGAN CHASE & CO	CS	46625H100	60,267	512,077	SH		SOLE	0	69,043	0	443,034
JAZZ PHARMACEUTICALS INC	CS	G50871105	3,043	23,745	SH		SOLE	0	864	0	22,881
JOHNSON & JOHNSON COM	CS	478160104	438	3,388	SH		SOLE	0	900	0	2,488
JULIUS BAER GROUP LTD ADR	CS	48137C108	50	5,659	SH		SOLE	0	5,659	0	0
JULIUS BAER GROUP LTD UN ADR	CS	48137C108	1,825	207,643	SH		DFND	0	205,328	0	2,315
KELLOGG CO	CS	487836108	243	3,771	SH		SOLE	0	0	0	3,771
KENTUCKY BANCSHARES INC	CS	491203105	391	16,800	SH		SOLE	0	16,800	0	0
KIMBERLY CLARK CORP COM	CS	494368103	315	2,215	SH		SOLE	0	200	0	2,015
KIRIN HOLDINGS	CS	497350306	2,930	137,900	SH		SOLE	0	0	0	137,900
KOHLS CORP	CS	500255104	1,766	35,560	SH		SOLE	0	28,939	0	6,621
KOMATSU LTD	CS	500458401	11,094	481,412	SH		SOLE	0	147,212	0	334,200
KOMATSU LTD SPON ADR NEW	CS	500458401	1,149	49,861	SH		DFND	0	49,304	0	557
KONINKLIJKE	CS	500467501	15,295	611,574	SH		SOLE	0	149,104	0	462,470
KONINKLIJKE AHOLD DELHAIZE NV	CS	500467501	1,165	46,587	SH		DFND	0	46,071	0	516
KROGER CO	CS	501044101	18,300	709,851	SH		SOLE	0	1,851	0	708,000
KULICKE & SOFFA INDUSTRIES INC	CS	501242101	3,196	136,100	SH		SOLE	0	0	0	136,100
LAM RESEARCH	CS	512807108	18,979	82,122	SH		SOLE	0	322	0	81,800
LAZARD LTD	CS	G54050102	15,149	432,835	SH		SOLE	0	128,335	0	304,500
LENOVO GROUP LIMITED ADS	CS	526250105	2,407	181,800	SH		SOLE	0	0	0	181,800
LINCOLN NATIONAL CORP	CS	534187109	33,195	550,315	SH		SOLE	0	75,327	0	474,988
LVMH Moet Hennessy	CS	502441306	18,285	230,332	SH		SOLE	0	70,432	0	159,900
LVMH MOET HENNESSY LOUIS VUITT	CS	502441306	1,967	24,791	SH		DFND	0	24,490	0	301
LYONDELLBASELL INDUSTRIES	CS	N53745100	19,602	219,089	SH		SOLE	0	64,950	0	154,139
LYONDELLBASELL NV CL-A	CS	N53745100	1,591	17,780	SH		DFND	0	17,571	0	209
MACYS INC	CS	55616P104	865	55,640	SH		SOLE	0	45,287	0	10,353
MAGNA INTERNATIONAL INC	CS	559222401	22,085	414,114	SH		SOLE	0	106,564	0	307,550
MAGNA INTERNATIONAL INC	CS	559222401	1,819	34,114	SH		DFND	0	33,727	0	387
MARATHON PETROLEUM CORP	CS	56585A102	26,435	435,144	SH		SOLE	0	61,978	0	373,166
MCDONALDS CORP	CS	580135101	1,091	5,080	SH		SOLE	0	2,919	0	2,161
MEDTRONIC INC	CS	G5960L103	61,434	565,587	SH		SOLE	0	113,280	0	452,307
MEDTRONIC PLC SHS	CS	G5960L103	2,246	20,682	SH		DFND	0	20,436	0	246
MELCO RESORT ENTMT LTD	CS	585464100	1,488	76,666	SH		DFND	0	75,739	0	927
MELCO RESORTS AND ENTERTAINMEN	CS	585464100	15,064	776,067	SH		SOLE	0	227,067	0	549,000
MERCK & CO INC	CS	58933Y105	15,641	185,799	SH		SOLE	0	1,899	0	183,900
METHANEX CORP	CS	59151K108	2,486	70,100	SH		SOLE	0	0	0	70,100
MICRO FOCUS INTERNATIONAL ADR	CS	594837403	2,036	143,900	SH		SOLE	0	0	0	143,900
MICROSOFT CORP	CS	594918104	2,548	18,329	SH		SOLE	0	13,256	0	5,073
MITSUBISHI UFJ FINCL GRP ADS	CS	606822104	913	179,630	SH		DFND	0	177,517	0	2,113
MITSUBISHI UFJ FINL GROUP ADR	CS	606822104	9,243	1,819,516	SH		SOLE	0	556,416	0	1,263,100
MOBILE TELESYSTEMS OJSC	CS	607409109	17,438	2,152,858	SH		SOLE	0	665,458	0	1,487,400
MOBILE TELESYSTEMS PJSC	CS	607409109	1,732	213,882	SH		DFND	0	211,305	0	2,577
MOMO INC	CS	60879B107	13,122	423,592	SH		SOLE	0	130,992	0	292,600
MOMO INC	CS	60879B107	1,270	41,004	SH		DFND	0	40,515	0	489
MORGAN STANLEY COM NEW	CS	617446448	41,016	961,240	SH		SOLE	0	130,706	0	830,534
NATIONAL GRID TRANSCO PLC ADR	CS	636274409	1,325	24,476	SH		SOLE	0	20,230	0	4,246
NETEASE INC. ADR	CS	64110W102	14,902	55,983	SH		SOLE	0	17,083	0	38,900
NETEASE.COM INC ADS	CS	64110W102	1,461	5,489	SH		DFND	0	5,431	0	58
NEW ORIENTAL ED & TECH GRP ADR	CS	647581107	2,132	19,246	SH		DFND	0	18,990	0	256
NEW ORIENTAL EDUCATION ADR	CS	647581107	22,201	200,443	SH		SOLE	0	51,903	0	148,540
NIPPON TELEG & TEL CORP	CS	654624105	18,692	390,326	SH		SOLE	0	111,126	0	279,200
NIPPON TELEGRAPH&TELEPHONE ADS	CS	654624105	1,801	37,600	SH		DFND	0	37,139	0	461
NRG ENERGY INC	CS	629377508	17,405	439,531	SH		SOLE	0	1,731	0	437,800
NTT DOCOMO, IN	CS	62942M201	257	10,088	SH		SOLE	0	10,088	0	0
NUVEEN KENTUCKY MUNICIPAL BOND	BOND FUND	67065R804	1,801	163,118	SH		SOLE	0	38,087	0	125,031
NVIDIA CORP	CS	67066g104	318	1,825	SH		SOLE	0	0	0	1,825
NVR INC	CS	62944T105	35,344	9,508	SH		SOLE	0	1,292	0	8,216
NXP SEMICONDUCTORS NV	CS	N6596X109	2,154	19,736	SH		DFND	0	19,498	0	238
NXP SEMICONDUCTORS NV	CS	N6596X109	21,798	199,757	SH		SOLE	0	61,657	0	138,100
OMEGA HEALTHCARE INVS	CS	681936100	1,623	38,832	SH		SOLE	0	31,546	0	7,286
ON SEMICONDUCTOR CORP	CS	682189105	32,368	1,684,947	SH		SOLE	0	230,164	0	1,454,783
ORIX CORP	CS	686330101	1,810	24,088	SH		DFND	0	23,792	0	296
ORIX CORP ADR	CS	686330101	18,323	243,828	SH		SOLE	0	74,728	0	169,100
OSHKOSH CORPORATION	CS	688239201	32,819	432,967	SH		SOLE	0	59,245	0	373,722
PACCAR INC	CS	693718108	15,064	215,163	SH		SOLE	0	563	0	214,600
PACWEST BANCORP	CS	695263103	1,226	33,745	SH		SOLE	0	27,672	0	6,073
PANASONIC CORPORATION	CS	69832A205	2,844	348,960	SH		SOLE	0	0	0	348,960
PHILIP MORRIS INTL INC COM	CS	718172109	1,781	23,461	SH		SOLE	0	19,218	0	4,243
PHILLIPS 66	CS	718546104	31,327	305,930	SH		SOLE	0	41,850	0	264,080
PING AN INSURANCE ADR	CS	72341E304	1,958	85,294	SH		DFND	0	84,290	0	1,004
PING AN INSURANCE GROUP	CS	72341E304	19,934	868,171	SH		SOLE	0	268,171	0	600,000
PJSC GAZPROM ADR	CS	368287207	2,705	391,970	SH		SOLE	0	0	0	391,970
PJSC LUKOIL CO ADR	CS	69343P105	29,805	360,263	SH		SOLE	0	110,463	0	249,800
PJSC LUKOIL SPONSORED ADR	CS	69343P105	3,010	36,384	SH		DFND	0	35,966	0	418
PLAINS ALL AMERICAN PIPELINE L	LTD PARTN	726503105	203	9,800	SH		SOLE	0	9,800	0	0
PROCTER & GAMBLE	CS	742718109	556	4,467	SH		SOLE	0	1,713	0	2,754
PROGRESSIVE CORP OHIO	CS	743315103	34,456	446,037	SH		SOLE	0	61,181	0	384,856
PUBLIC SVC ENTERPRISE	CS	744573106	348	5,599	SH		SOLE	0	0	0	5,599
PULTEGROUP INC.	CS	745867101	34,731	950,246	SH		SOLE	0	130,115	0	820,131
QORVO, INC	CS	74736K101	33,565	452,722	SH		SOLE	0	61,627	0	391,095
QUALCOMM INC	CS	747525103	14,987	196,478	SH		SOLE	0	778	0	195,700
QUDIAN INC- SPONS	CS	747798106	2,467	358,000	SH		SOLE	0	0	0	358,000
RALPH LAUREN CORPORATION	CS	751212101	12,712	133,150	SH		SOLE	0	350	0	132,800
RANDSTAD NV ADR UNSPON	CS	75279Q108	2,836	115,500	SH		SOLE	0	0	0	115,500
REGIONS FINANCIAL CORP	CS	7591EP100	16,108	1,018,174	SH		SOLE	0	2,674	0	1,015,500
RELX PLC	CS	759530108	203	8,578	SH		SOLE	0	8,578	0	0
REPSOL S.A.	CS	76026T205	27,773	1,794,099	SH		SOLE	0	541,799	0	1,252,300
REPSOL SA SPON ADR	CS	76026T205	2,686	173,530	SH		DFND	0	171,516	0	2,014
RIO TINTO PLC ADR	CS	767204100	54,611	1,048,392	SH		SOLE	0	213,179	0	835,213
RIO TINTO PLC SPON ADR	CS	767204100	2,335	44,823	SH		DFND	0	44,310	0	513
ROBERT HALF INTL	CS	770323103	14,869	267,148	SH		SOLE	0	1,048	0	266,100
ROSS STORES INC COM	CS	778296103	17,207	156,643	SH		SOLE	0	399	0	156,244
ROYAL DUTCH SHELL PLC	CS	780259206	52,605	893,873	SH		SOLE	0	207,371	0	686,502
ROYAL DUTCH SHELL PLC	CS	780259206	2,340	39,757	SH		DFND	0	39,253	0	504
SBERBANK OF RUSSIA	CS	80585Y308	20,799	1,470,739	SH		SOLE	0	504,542	0	966,197
SBERBANK RUSSIA SPONSORED ADR	CS	80585Y308	2,151	152,117	SH		DFND	0	150,256	0	1,861
SEMPRA ENERGY	CS	816851109	15,759	106,763	SH		SOLE	0	14,691	0	92,072
SENSATA TECHNOLOGIES HLDG PLC	CS	G8060N102	1,855	37,048	SH		DFND	0	36,611	0	437
SENSATA TECHNOLOGIES HOLDING P	CS	G8060N102	17,539	350,363	SH		SOLE	0	107,863	0	242,500
SHIONOGI & CO LTD UNSP	CS	824667109	10,359	763,328	SH		SOLE	0	164,648	0	598,680
SHIONOGI & CO LTD UNSPONS ADR	CS	824667109	768	56,587	SH		DFND	0	55,917	0	670
SMITH & NEPHEW PLC ADR	CS	83175M205	291	6,038	SH		SOLE	0	6,038	0	0
SOFTBANK CORP UNSP ADR	CS	83404D109	10,921	558,029	SH		SOLE	0	172,629	0	385,400
SOFTBANK CORP UNSPONS ADR	CS	83404D109	1,121	57,259	SH		DFND	0	56,569	0	690
SOUTHWEST AIRLINES	CS	844741108	23,493	434,970	SH		SOLE	0	58,125	0	376,845
SPDR MSCI ACWI EX.U.S.	CS	78463X848	36	1,491	SH		DFND	0	1,491	0	0
STARBUCKS	CS	855244109	16,126	182,378	SH		SOLE	0	478	0	181,900
SUMITOMO MITSUI FINCL GR	CS	86562M209	8,945	1,307,734	SH		SOLE	0	404,434	0	903,300
SUMITOMO MITSUI FINL GROUP INC	CS	86562M209	910	133,011	SH		DFND	0	131,384	0	1,627
SUN LIFE FINANCIAL	CS	866796105	20,794	464,039	SH		SOLE	0	162,665	0	301,374
SUN LIFE FINL SVCS CDA INC	CS	866796105	1,878	41,916	SH		DFND	0	41,412	0	504
SUNTRUST BANKS INC	CS	867914103	28,566	415,212	SH		SOLE	0	55,904	0	359,308
SWISS LIFE HOLDINGS UNSP	CS	87089E100	2,852	119,700	SH		SOLE	0	0	0	119,700
TAIWAN SEMICONDUCTOR MFG CO AD	CS	874039100	25,291	544,131	SH		SOLE	0	168,231	0	375,900
TAIWAN SMCNDCTR MFG CO LTD ADR	CS	874039100	2,473	53,196	SH		DFND	0	52,540	0	656
TAPESTRY	CS	876030107	1,257	48,243	SH		SOLE	0	39,203	0	9,040
TARGET CORP COM	CS	87612E106	23,121	216,274	SH		SOLE	0	14,453	0	201,821
TE CONNECTIVITY LTD.	CS	H84989104	38,355	411,623	SH		SOLE	0	57,003	0	354,620
TECHTRONIC IND LTD SPONS ADR	CS	87873R101	1,969	56,280	SH		DFND	0	55,632	0	648
TECHTRONIC INDUSTRIES CO	CS	87873R101	20,347	581,682	SH		SOLE	0	179,682	0	402,000
TEXAS INSTRUMENT	CS	882508104	17,364	134,351	SH		SOLE	0	351	0	134,000
TEXAS ROADHOUSE	CS	882681109	2,408	45,850	SH		SOLE	0	45,850	0	0
TOKYO ELECTRON LTD	CS	889110102	20,141	420,057	SH		SOLE	0	152,943	0	267,114
TOKYO ELECTRON LTD UNSPON ADR	CS	889110102	1,822	38,007	SH		DFND	0	37,549	0	458
TOSHIBA CORP	CS	891493306	2,905	189,870	SH		SOLE	0	0	0	189,870
TOTAL S A SPON ADR	CS	89151E109	2,550	49,044	SH		DFND	0	48,472	0	572
TOTAL SA	CS	89151E109	71,752	1,379,850	SH		SOLE	0	287,964	0	1,091,886
TRAVELERS COS INC	CS	89417E109	15,325	103,069	SH		SOLE	0	269	0	102,800
UBS GROUP AG	CS	H42097107	9,099	804,511	SH		SOLE	0	248,911	0	555,600
UBS GROUP AG SHS	CS	H42097107	915	80,940	SH		DFND	0	79,945	0	995
UNILEVER NV	CS	904784709	1,315	21,906	SH		SOLE	0	21,906	0	0
UNION PAC CORP COM	CS	907818108	28,272	174,536	SH		SOLE	0	24,207	0	150,329
UNITED HEALTHCARE CORP	CS	91324p102	26,873	123,655	SH		SOLE	0	16,646	0	107,009
UNITED RENTAL INC	CS	911363109	37,200	298,463	SH		SOLE	0	41,252	0	257,211
UNITED TECHNOLOGIES CORP COM	CS	913017109	20,089	147,153	SH		SOLE	0	20,848	0	126,305
VANGUARD BD INDEX FD INC	ST BOND FUND	921937827	624	7,722	SH		SOLE	0	7,722	0	0
VANGUARD S&P 500 ETF	ETF	922908363	1,610	5,905	SH		SOLE	0	5,905	0	0
VEOLIA ENVIRONMENT	CS	92334N103	11,983	473,256	SH		SOLE	0	146,256	0	327,000
VEOLIA ENVIRONMENT	CS	92334N103	1,202	47,469	SH		DFND	0	46,902	0	567
VEON LTD	CS	91822M106	2,245	935,600	SH		SOLE	0	0	0	935,600
VERIZON COMMUNICATIONS	CS	92343V104	27,447	454,720	SH		SOLE	0	71,756	0	382,964
VERMILION ENERGY INC	CS	923725105	481	28,780	SH		SOLE	0	23,566	0	5,214
VIPSHOP HLDGS LTD ADS	CS	92763W103	565	63,327	SH		DFND	0	62,559	0	768
VIPSHOP HOLDINGS LTD ADS	CS	92763W103	9,030	1,012,333	SH		SOLE	0	195,433	0	816,900
W.W. GRAINGER INC.	CS	384802104	16,944	57,023	SH		SOLE	0	223	0	56,800
WESTPAC BKG CORP	CS	961214301	1,110	55,505	SH		SOLE	0	42,764	0	12,741
WHIRLPOOL CORP	CS	963320106	16,830	106,275	SH		SOLE	0	275	0	106,000
WNS HOLDINGS LIMITED	CS	92932M101	1,194	20,327	SH		DFND	0	20,071	0	256
WNS HOLDINGS LTD	CS	92932M101	12,349	210,186	SH		SOLE	0	64,386	0	145,800
XEROX HOLDINGS CORP	CS	98421M106	12,769	426,910	SH		SOLE	0	1,110	0	425,800
YANDEX N.V.	CS	N97284108	16,143	461,096	SH		SOLE	0	141,296	0	319,800
YANDEX N.V. A	CS	N97284108	1,788	51,059	SH		DFND	0	50,431	0	628
YY INC ADS	CS	98426T106	11,219	199,527	SH		SOLE	0	59,627	0	139,900
YY INC ADS	CS	98426T106	979	17,417	SH		DFND	0	17,194	0	223
ZIONS BANCORPORATION	CS	989701107	23,941	537,764	SH		SOLE	0	73,747	0	464,017
ZTO EXPRESS CAYMAN INC CL A	CS	98980A105	1,930	90,470	SH		DFND	0	89,380	0	1,090
ZTO EXPRESS INC	CS	98980A105	20,892	979,455	SH		SOLE	0	300,255	0	679,200