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
ABBVIE	CS	00287Y109	35,446	330,806	SH		SOLE	0	47,656	0	283,150
ADECCO GROUP ADR	CS	006754204	3,367	101,200	SH		SOLE	0	0	0	101,200
AERCAP HOLDINGS NV	CS	N00985106	29,969	657,496	SH		SOLE	0	211,996	0	445,500
AERCAP HOLDINGS NV	CS	N00985106	3,784	83,027	SH		DFND	0	82,262	0	765
AKAMAI TECHNOLGIES	CS	00971T101	22,600	215,259	SH		SOLE	0	22,714	0	192,545
ALIBABA GROUP HOLDING	CS	01609W102	22,520	96,765	SH		SOLE	0	31,365	0	65,400
ALIBABA GROUP HOLDING	CS	01609W102	3,143	13,505	SH		DFND	0	13,383	0	122
ALLIANZ SE	CS	018820100	1,428	57,946	SH		SOLE	0	57,946	0	0
ALPHABET INC	CS	02079K305	44,820	25,573	SH		SOLE	0	2,673	0	22,900
ALTRIA GROUP INC COM	CS	02209S103	12,991	316,839	SH		SOLE	0	58,096	0	258,743
AMDOCS LTD	CS	G02602103	22,930	323,273	SH		SOLE	0	87,973	0	235,300
AMDOCS LTD	CS	G02602103	2,633	37,127	SH		DFND	0	36,823	0	304
AMERICAN EXPRESS CO	CS	025816109	28,078	232,222	SH		SOLE	0	24,611	0	207,611
AMERIPRISE FINANCIAL INC	CS	03076C106	53,543	275,527	SH		SOLE	0	19,025	0	256,502
AMGEN INC	CS	031162100	33,426	145,381	SH		SOLE	0	15,540	0	129,841
ANTHEM, INC	CS	036752103	22,403	69,773	SH		SOLE	0	7,444	0	62,329
AON CORP.	CS	G0403H108	16,907	80,026	SH		SOLE	0	25,019	0	55,007
AON CORP.	CS	G0403H108	2,144	10,150	SH		DFND	0	10,056	0	94
AP MOLLER MAERSK	CS	00202F102	3,592	323,300	SH		SOLE	0	0	0	323,300
APPLE COMPUTER INC	CS	037833100	59,683	449,796	SH		SOLE	0	50,940	0	398,856
APPLIED MATERIALS	CS	038222105	21,564	249,875	SH		SOLE	0	685	0	249,190
APTIV PLC ORDINARY	CS	G6095L109	81,752	627,461	SH		SOLE	0	127,667	0	499,794
APTIV PLC ORDINARY	CS	G6095L109	4,748	36,438	SH		DFND	0	36,115	0	323
ASHTEAD GROUP PLC UNSP	CS	045055100	36,273	191,418	SH		SOLE	0	61,818	0	129,600
ASHTEAD GROUP PLC UNSP	CS	045055100	5,033	26,558	SH		DFND	0	26,296	0	262
AT&T INC COM	CS	00206R102	970	33,724	SH		SOLE	0	30,551	0	3,173
AUTOZONE INC	CS	053332102	39,363	33,205	SH		SOLE	0	2,299	0	30,906
AXA- SPONS ADR	CS	054536107	12,663	528,726	SH		SOLE	0	162,526	0	366,200
AXA- SPONS ADR	CS	054536107	1,442	60,200	SH		DFND	0	59,639	0	561
B A S F A G	CS	055262505	19,434	987,493	SH		SOLE	0	320,593	0	666,900
B A S F A G	CS	055262505	2,528	128,477	SH		DFND	0	127,312	0	1,165
BAIDU INC	CS	056752108	18,219	84,250	SH		SOLE	0	27,250	0	57,000
BAIDU INC	CS	056752108	2,207	10,208	SH		DFND	0	10,121	0	87
BANK NOVA SCOTIA HALIFAX	CS	064149107	991	18,346	SH		SOLE	0	18,346	0	0
BANK OF AMERICA CORPORATION	CS	060505104	37,963	1,252,493	SH		SOLE	0	132,002	0	1,120,491
BANK OF MONTREAL	CS	063671101	21,126	277,861	SH		SOLE	0	89,961	0	187,900
BANK OF MONTREAL	CS	063671101	2,654	34,909	SH		DFND	0	34,605	0	304
BEST BUY INC COM	CS	086516101	41,841	419,295	SH		SOLE	0	31,028	0	388,267
BLACKROCK INC	CS	09247X101	394	546	SH		SOLE	0	336	0	210
BNP PARIBAS PA ADR	CS	05565A202	16,286	612,037	SH		SOLE	0	186,937	0	425,100
BNP PARIBAS PA ADR	CS	05565A202	2,126	79,880	SH		DFND	0	79,129	0	751
BOOKING HOLDINGS INC	CS	09857L108	32,458	14,573	SH		SOLE	0	1,555	0	13,018
BRISTOL MYERS SQUIBB CO	CS	110122108	33,350	537,643	SH		SOLE	0	31,105	0	506,538
BRITISH AMERN TOB PLC ADR	CS	110448107	10,441	278,510	SH		SOLE	0	54,610	0	223,900
BRITISH AMERN TOB PLC ADR	CS	110448107	1,644	43,842	SH		DFND	0	43,446	0	396
BROADCOM LTD	CS	11135F101	42,652	97,412	SH		SOLE	0	13,833	0	83,579
BROWN FORMAN CL B	CS	115637209	260	3,279	SH		SOLE	0	937	0	2,342
CANADIAN NATL RY CO	CS	136375102	19,981	181,893	SH		SOLE	0	56,693	0	125,200
CANADIAN NATL RY CO	CS	136375102	2,547	23,189	SH		DFND	0	22,989	0	200
CERNER CORP	CS	156782104	16,277	207,408	SH		SOLE	0	908	0	206,500
CHEVRON CORP NEW COM	CS	166764100	18,515	219,234	SH		SOLE	0	32,489	0	186,745
CHINA OVERSEAS LAND & INVESTME	CS	169403201	5,381	504,728	SH		SOLE	0	158,328	0	346,400
CHINA OVERSEAS LAND & INVESTME	CS	169403201	680	63,831	SH		DFND	0	63,236	0	595
CHUGAI PHARMA UNSUP ADR	CS	171269103	3,498	131,500	SH		SOLE	0	0	0	131,500
CISCO SYS INC COM	CS	17275R102	407	9,097	SH		SOLE	0	672	0	8,425
CITIZENS FINANCIAL GROUP INC	CS	174610105	49,417	1,381,901	SH		SOLE	0	180,809	0	1,201,092
CITRIX SYS INC	CS	177376100	13,616	104,661	SH		SOLE	0	461	0	104,200
CNOOC LTD	CS	126132109	14,530	158,546	SH		SOLE	0	49,346	0	109,200
CNOOC LTD	CS	126132109	1,784	19,461	SH		DFND	0	19,299	0	162
COMCAST CORP CL A	CS	20030N101	16,687	318,460	SH		SOLE	0	34,633	0	283,827
CONOCOPHILLIPS	CS	20825C104	12,535	313,453	SH		SOLE	0	32,772	0	280,681
CORESITE REALTY CORP.	CS	21870Q105	13,976	111,560	SH		SOLE	0	11,044	0	100,516
CRH PLC ADR	CS	12626K203	25,905	608,384	SH		SOLE	0	197,384	0	411,000
CRH PLC ADR	CS	12626K203	3,283	77,108	SH		DFND	0	76,431	0	677
D R HORTON INC	CS	23331a109	13,587	197,142	SH		SOLE	0	542	0	196,600
DAITO TRUST CONSTRUCTION	CS	23405X209	2,904	123,700	SH		SOLE	0	0	0	123,700
DANONE SPON ADR	CS	23636T100	11,816	902,008	SH		SOLE	0	293,208	0	608,800
DANONE SPON ADR	CS	23636T100	1,507	115,031	SH		DFND	0	113,937	0	1,094
DAVITA INC	CS	23918k108	47,268	402,626	SH		SOLE	0	24,592	0	378,034
DBS GROUP HOLDINGS LTD	CS	23304Y100	23,925	314,600	SH		SOLE	0	99,500	0	215,100
DBS GROUP HOLDINGS LTD	CS	23304Y100	2,958	38,898	SH		DFND	0	38,545	0	353
DOLLAR GENERAL CORP	CS	256677105	13,200	62,769	SH		SOLE	0	269	0	62,500
EASTMAN CHEMICAL CO	CS	277432100	25,945	258,725	SH		SOLE	0	27,319	0	231,406
EATON CORP PLC	CS	G29183103	1,452	12,085	SH		SOLE	0	12,085	0	0
EATON VANCE MUNICIPAL BD	CS	27827X101	310	22,829	SH		SOLE	0	22,829	0	0
EBAY INC	CS	278642103	14,396	286,494	SH		SOLE	0	1,264	0	285,230
EMERSON ELEC CO COM	CS	291011104	257	3,193	SH		SOLE	0	0	0	3,193
ERICSSON	CS	294821608	18,611	1,557,427	SH		SOLE	0	503,427	0	1,054,000
ERICSSON	CS	294821608	2,524	211,203	SH		DFND	0	209,409	0	1,794
EXXON MOBIL	CS	30231G102	453	10,998	SH		SOLE	0	6,630	0	4,368
F5 NETWORKS	CS	315616102	31,563	179,395	SH		SOLE	0	18,764	0	160,631
FEDEX CORP	CS	31428X106	15,359	59,160	SH		SOLE	0	260	0	58,900
FIFTH THIRD BANCORP	CS	316773100	24,163	876,401	SH		SOLE	0	91,988	0	784,413
FIRST FINANCIAL BANCORP	CS	320209109	210	11,964	SH		SOLE	0	11,964	0	0
FLEX LTD	CS	Y2573F102	2,542	141,400	SH		SOLE	0	0	0	141,400
FORTESCUE METAL GROUP	CS	34959A206	4,264	118,300	SH		SOLE	0	0	0	118,300
FORTINET INC.	CS	34959E109	18,871	127,049	SH		SOLE	0	349	0	126,700
FRESENIUS MEDICAL CARE AG & CO	CS	358029106	19,148	460,744	SH		SOLE	0	123,844	0	336,900
FRESENIUS MEDICAL CARE AG & CO	CS	358029106	2,092	50,344	SH		DFND	0	49,890	0	454
FUJIFILM HOLDINGS CORP	CS	35958N107	20,659	390,171	SH		SOLE	0	126,671	0	263,500
FUJIFILM HOLDINGS CORP	CS	35958N107	2,577	48,673	SH		DFND	0	48,252	0	421
FUJITSU LIMITED ADR	CS	359590304	2,914	100,600	SH		SOLE	0	0	0	100,600
GENERAL MILLS	CS	370334104	1,543	26,238	SH		SOLE	0	24,315	0	1,923
GLAXOSMITHKLINE PLC	CS	37733W105	771	20,959	SH		SOLE	0	20,959	0	0
GRIFOLS, S.A. ADR	CS	398438408	13,341	723,458	SH		SOLE	0	224,358	0	499,100
GRIFOLS, S.A. ADR	CS	398438408	1,658	89,907	SH		DFND	0	89,100	0	807
HDFC BANK LTD	CS	40415F101	28,213	390,443	SH		SOLE	0	126,843	0	263,600
HDFC BANK LTD	CS	40415F101	3,908	54,079	SH		DFND	0	53,602	0	477
HOME DEPOT	CS	437076102	29,341	110,461	SH		SOLE	0	11,999	0	98,462
HORIZON THERAPEUTICS INC.	CS	G46188101	2,180	29,800	SH		SOLE	0	0	0	29,800
HP INC	CS	40434L105	19,412	789,444	SH		SOLE	0	2,144	0	787,300
HUAZHU GROUP LTD	CS	44332N106	630	13,994	SH		SOLE	0	13,994	0	0
ICON PLC - AMERICAN DEPOSITARY	CS	G4705A100	18,075	92,704	SH		SOLE	0	25,304	0	67,400
ICON PLC - AMERICAN DEPOSITARY	CS	G4705A100	2,102	10,783	SH		DFND	0	10,690	0	93
IHS MARKIT LTD	CS	G47567105	17,486	194,661	SH		SOLE	0	63,161	0	131,500
IHS MARKIT LTD	CS	G47567105	2,278	25,358	SH		DFND	0	25,137	0	221
ILLINOIS TOOL WKS INC COM	CS	452308109	33,672	165,157	SH		SOLE	0	17,584	0	147,573
INFOSYS TECHNOLOGIES LTD	CS	456788108	24,231	1,429,582	SH		SOLE	0	393,482	0	1,036,100
INFOSYS TECHNOLOGIES LTD	CS	456788108	2,588	152,708	SH		DFND	0	151,320	0	1,388
ING GROUP N V	CS	456837103	16,725	1,771,620	SH		SOLE	0	569,720	0	1,201,900
ING GROUP N V	CS	456837103	2,118	224,356	SH		DFND	0	222,290	0	2,066
INTEL CORP	CS	458140100	26,767	537,273	SH		SOLE	0	56,602	0	480,671
INTL. BUSINESS MACHS CO	CS	459200101	1,045	8,304	SH		SOLE	0	8,304	0	0
IQVIA HOLDINGS INC	CS	46266C105	34,797	194,215	SH		SOLE	0	20,390	0	173,825
ISHARES BARCLAYS TIPS BOND FUN	ETF	464287176	263	2,060	SH		SOLE	0	2,060	0	0
ISHARES MSCI ACWI EX US ETF	ETF	464288240	3,191	60,165	SH		DFND	0	60,138	0	27
ISHARES NATIONAL MUNI BOND ETF	ETF	464288414	649	5,555	SH		SOLE	0	0	0	5,555
ISHARES TR	ETF	464287242	206	1,489	SH		SOLE	0	1,489	0	0
ITAU UNIBANCO HOLDINGS SA	CS	465562106	13,692	2,248,331	SH		SOLE	0	724,431	0	1,523,900
ITAU UNIBANCO HOLDINGS SA	CS	465562106	1,568	257,478	SH		DFND	0	255,135	0	2,343
ITOCHU CORPORATION	CS	465717106	17,513	303,306	SH		SOLE	0	80,506	0	222,800
ITOCHU CORPORATION	CS	465717106	1,779	30,810	SH		DFND	0	30,543	0	267
J P MORGAN CHASE & CO	CS	46625H100	55,832	439,386	SH		SOLE	0	46,141	0	393,245
JAZZ PHARMACEUTICALS INC	CS	G50871105	3,489	21,142	SH		SOLE	0	1,510	0	19,632
JOHNSON & JOHNSON COM	CS	478160104	517	3,288	SH		SOLE	0	800	0	2,488
JOHNSON CONTROLS INTERNATIONAL	CS	G51502105	16,704	358,541	SH		SOLE	0	4,179	0	354,362
JOYY INC ADR	CS	46591M109	16,634	207,970	SH		SOLE	0	56,270	0	151,700
JOYY INC ADR	CS	46591M109	1,761	22,018	SH		DFND	0	21,823	0	195
JULIUS BAER GROUP LTD ADR	CS	48137C108	41	3,511	SH		SOLE	0	3,511	0	0
JULIUS BAER GROUP LTD ADR	CS	48137C108	2,887	249,773	SH		DFND	0	247,523	0	2,250
KDDI CORP ADR	CS	48667L106	3,170	213,600	SH		SOLE	0	0	0	213,600
KENTUCKY BANCSHARES INC	CS	491203105	348	16,800	SH		SOLE	0	16,800	0	0
KERING UNSPONSORED ADR	CS	492089107	930	12,830	SH		SOLE	0	12,830	0	0
KIRIN HOLDINGS	CS	497350306	3,534	148,500	SH		SOLE	0	0	0	148,500
KLA -Tencor	CS	482480100	19,731	76,209	SH		SOLE	0	209	0	76,000
KOMATSU LTD	CS	500458401	14,512	524,258	SH		SOLE	0	170,058	0	354,200
KOMATSU LTD	CS	500458401	1,819	65,712	SH		DFND	0	65,144	0	568
KONINKLIJKE	CS	500467501	19,277	682,971	SH		SOLE	0	187,571	0	495,400
KONINKLIJKE	CS	500467501	2,246	79,590	SH		DFND	0	78,903	0	687
KONINKLIJKE PHILIPS ELECT	CS	500472303	15,495	286,048	SH		SOLE	0	92,603	0	193,445
KONINKLIJKE PHILIPS ELECT	CS	500472303	2,109	38,939	SH		DFND	0	38,610	0	329
LAM RESEARCH	CS	512807108	21,003	44,472	SH		SOLE	0	122	0	44,350
LAZARD LTD	CS	G54050102	22,479	531,419	SH		SOLE	0	170,919	0	360,500
LINCOLN NATIONAL CORP	CS	534187109	25,050	497,908	SH		SOLE	0	52,407	0	445,501
LIVANOVA PLC	CS	G5509L101	266	4,016	SH		SOLE	0	4,016	0	0
LOCKHEED MARTIN	CS	539830109	16,129	45,436	SH		SOLE	0	4,829	0	40,607
LUMENTUM HOLDINGS INC	CS	55024U109	23,962	252,759	SH		SOLE	0	26,641	0	226,118
LVMH Moet Hennessy	CS	502441306	28,268	226,635	SH		SOLE	0	66,735	0	159,900
LVMH Moet Hennessy	CS	502441306	3,725	29,862	SH		DFND	0	29,570	0	292
LYONDELLBASELL INDUSTRIES	CS	N53745100	46,427	506,509	SH		SOLE	0	105,509	0	401,000
LYONDELLBASELL INDUSTRIES	CS	N53745100	3,182	34,717	SH		DFND	0	34,420	0	297
MAGNA INTERNATIONAL INC	CS	559222401	36,351	513,427	SH		SOLE	0	162,977	0	350,450
MAGNA INTERNATIONAL INC	CS	559222401	4,039	57,055	SH		DFND	0	56,554	0	501
MANULIFE FINANACIAL CORP	CS	56501R106	1,098	61,617	SH		SOLE	0	61,617	0	0
MCDONALDS CORP	CS	580135101	1,027	4,788	SH		SOLE	0	2,627	0	2,161
MCKESSON CORP COM	CS	58155Q103	17,730	101,944	SH		SOLE	0	444	0	101,500
MEDTRONIC INC	CS	G5960L103	56,946	486,133	SH		SOLE	0	96,065	0	390,068
MEDTRONIC INC	CS	G5960L103	3,216	27,457	SH		DFND	0	27,210	0	247
MELCO RESORTS AND ENTERTAINMEN	CS	585464100	14,165	763,579	SH		SOLE	0	214,579	0	549,000
MELCO RESORTS AND ENTERTAINMEN	CS	585464100	1,750	94,365	SH		DFND	0	93,517	0	848
METLIFE INC.	CS	59156R108	1,329	28,308	SH		SOLE	0	28,308	0	0
MICROSOFT CORP	CS	594918104	3,170	14,253	SH		SOLE	0	9,520	0	4,733
MITSUBISHI UFJ FINL GROUP ADR	CS	606822104	8,175	1,845,441	SH		SOLE	0	582,341	0	1,263,100
MITSUBISHI UFJ FINL GROUP ADR	CS	606822104	1,136	256,481	SH		DFND	0	254,195	0	2,286
MOBILE TELESYSTEMS OJSC	CS	607409109	22,496	2,513,544	SH		SOLE	0	698,044	0	1,815,500
MOBILE TELESYSTEMS OJSC	CS	607409109	2,576	287,831	SH		DFND	0	285,347	0	2,484
MOMO INC	CS	60879B107	8,414	602,718	SH		SOLE	0	196,118	0	406,600
MOMO INC	CS	60879B107	1,058	75,759	SH		DFND	0	75,042	0	717
MORGAN STANLEY COM NEW	CS	617446448	50,582	738,098	SH		SOLE	0	75,823	0	662,275
NASPERS LIMITED ADR	CS	631512209	23,533	579,051	SH		SOLE	0	188,051	0	391,000
NASPERS LIMITED ADR	CS	631512209	2,946	72,493	SH		DFND	0	71,862	0	631
NATIONAL GRID TRANSCO PLC ADR	CS	636274409	1,133	19,187	SH		SOLE	0	19,187	0	0
NETAPP	CS	64110D104	22,617	341,439	SH		SOLE	0	939	0	340,500
NETEASE INC. ADR	CS	64110W102	32,698	341,420	SH		SOLE	0	100,620	0	240,800
NETEASE INC. ADR	CS	64110W102	3,643	38,041	SH		DFND	0	37,701	0	340
NEW ORIENTAL EDUCATION ADR	CS	647581107	26,504	142,638	SH		SOLE	0	45,438	0	97,200
NEW ORIENTAL EDUCATION ADR	CS	647581107	3,485	18,754	SH		DFND	0	18,533	0	221
NIPPON TELEG & TEL CORP	CS	654624105	15,575	606,038	SH		SOLE	0	189,638	0	416,400
NIPPON TELEG & TEL CORP	CS	654624105	2,164	84,184	SH		DFND	0	83,475	0	709
NITTO DENKO CORP	CS	654802206	3,560	79,500	SH		SOLE	0	0	0	79,500
NTT DOCOMO, IN	CS	62942M201	244	6,592	SH		SOLE	0	6,592	0	0
NUVEEN KENTUCKY MUNICIPAL BOND	BF	67065R804	1,901	169,912	SH		SOLE	0	40,360	0	129,552
NVIDIA CORP	CS	67066g104	721	1,380	SH		SOLE	0	0	0	1,380
NVR INC	CS	62944T105	33,446	8,198	SH		SOLE	0	829	0	7,369
NXP SEMICONDUCTORS NV	CS	N6596X109	28,005	176,121	SH		SOLE	0	57,021	0	119,100
NXP SEMICONDUCTORS NV	CS	N6596X109	4,046	25,444	SH		DFND	0	25,200	0	244
OMEGA HEALTHCARE INVS	CS	681936100	1,117	30,752	SH		SOLE	0	30,752	0	0
ON SEMICONDUCTOR CORP	CS	682189105	49,259	1,505,019	SH		SOLE	0	157,343	0	1,347,676
OPEN TEXT CORPORATION	CS	683715106	35,024	770,421	SH		SOLE	0	181,040	0	589,381
OPEN TEXT CORPORATION	CS	683715106	2,584	56,836	SH		DFND	0	56,342	0	494
ORACLE CORP COM	CS	68389X105	16,184	250,185	SH		SOLE	0	685	0	249,500
ORIX CORP ADR	CS	686330101	19,135	247,442	SH		SOLE	0	78,342	0	169,100
ORIX CORP ADR	CS	686330101	2,432	31,446	SH		DFND	0	31,153	0	293
OSHKOSH CORPORATION	CS	688239201	28,548	331,683	SH		SOLE	0	34,803	0	296,880
PACWEST BANCORP	CS	695263103	734	28,903	SH		SOLE	0	28,903	0	0
PANASONIC CORPORATION	CS	69832A205	270	23,074	SH		SOLE	0	23,074	0	0
PARKER HANNIFIN CORP	CS	701094104	16,290	59,799	SH		SOLE	0	6,346	0	53,453
PFIZER INC	CS	717081103	1,208	32,808	SH		SOLE	0	32,808	0	0
PHILIP MORRIS INTL INC COM	CS	718172109	18,642	225,171	SH		SOLE	0	20,128	0	205,043
PHILLIPS 66	CS	718546104	14,940	213,611	SH		SOLE	0	22,234	0	191,377
PING AN INSURANCE GROUP	CS	72341E304	21,579	880,791	SH		SOLE	0	280,791	0	600,000
PING AN INSURANCE GROUP	CS	72341E304	2,717	110,918	SH		DFND	0	109,922	0	996
PJSC LUKOIL CO ADR	CS	69343P105	29,256	427,956	SH		SOLE	0	127,656	0	300,300
PJSC LUKOIL CO ADR	CS	69343P105	2,977	43,551	SH		DFND	0	43,126	0	425
PJSC POLYUS GOLD ADR	CS	73181P102	2,629	24,800	SH		SOLE	0	0	0	24,800
PPL CORP	CS	69351T106	1,082	38,364	SH		SOLE	0	38,364	0	0
PROCTER & GAMBLE	CS	742718109	484	3,478	SH		SOLE	0	724	0	2,754
PROGRESSIVE CORP OHIO	CS	743315103	33,556	339,366	SH		SOLE	0	33,272	0	306,094
PULTEGROUP INC.	CS	745867101	31,441	729,167	SH		SOLE	0	76,271	0	652,896
QORVO, INC	CS	74736K101	38,968	234,366	SH		SOLE	0	24,703	0	209,663
QUALCOMM INC	CS	747525103	44,012	288,907	SH		SOLE	0	17,853	0	271,054
RANDSTAD NV ADR UNSPON	CS	75279Q108	3,313	101,300	SH		SOLE	0	0	0	101,300
RAYTHEON TECHNOLOGIES CORP	CS	75513E101	315	4,405	SH		SOLE	0	898	0	3,507
REPSOL S.A.	CS	76026T205	12,166	1,215,434	SH		SOLE	0	395,134	0	820,300
REPSOL S.A.	CS	76026T205	1,436	143,484	SH		DFND	0	142,033	0	1,451
RIO TINTO PLC ADR	CS	767204100	68,662	912,811	SH		SOLE	0	185,623	0	727,188
RIO TINTO PLC ADR	CS	767204100	4,308	57,271	SH		DFND	0	56,759	0	512
ROBERT HALF INTL	CS	770323103	17,653	282,540	SH		SOLE	0	1,240	0	281,300
ROCHE HLDG LTD	CS	771195104	10,495	239,377	SH		SOLE	0	74,377	0	165,000
ROCHE HLDG LTD	CS	771195104	1,268	28,915	SH		DFND	0	28,643	0	272
ROSS STORES INC COM	CS	778296103	435	3,544	SH		SOLE	0	0	0	3,544
ROYAL DUTCH SHELL PLC	CS	780259206	23,956	681,733	SH		SOLE	0	155,248	0	526,485
ROYAL DUTCH SHELL PLC	CS	780259206	1,765	50,224	SH		DFND	0	49,773	0	451
SBERBANK OF RUSSIA	CS	80585Y308	21,314	1,469,917	SH		SOLE	0	524,417	0	945,500
SBERBANK OF RUSSIA	CS	80585Y308	2,495	172,073	SH		DFND	0	170,404	0	1,669
SEAGATE TECH	CS	G7945M107	3,382	54,400	SH		SOLE	0	0	0	54,400
SEMPRA ENERGY	CS	816851109	10,433	81,885	SH		SOLE	0	8,619	0	73,266
SENSATA TECHNOLOGIES HOLDING P	CS	G8060N102	18,750	355,514	SH		SOLE	0	113,014	0	242,500
SENSATA TECHNOLOGIES HOLDING P	CS	G8060N102	2,484	47,107	SH		DFND	0	46,671	0	436
SHIONOGI & CO LTD UNSP	CS	824667109	14,881	1,086,261	SH		SOLE	0	337,361	0	748,900
SHIONOGI & CO LTD UNSP	CS	824667109	1,907	139,165	SH		DFND	0	137,897	0	1,268
SKYWORKS	CS	83088M102	15,509	101,444	SH		SOLE	0	444	0	101,000
SMITH & NEPHEW PLC ADR	CS	83175M205	341	8,086	SH		SOLE	0	8,086	0	0
SONY CORP	CS	835699307	30,313	299,841	SH		SOLE	0	95,441	0	204,400
SONY CORP	CS	835699307	3,805	37,632	SH		DFND	0	37,307	0	325
SOUTHWEST AIRLINES	CS	844741108	25,054	537,530	SH		SOLE	0	56,606	0	480,924
SUN LIFE FINANCIAL	CS	866796105	20,536	461,898	SH		SOLE	0	167,948	0	293,950
SUN LIFE FINANCIAL	CS	866796105	2,576	57,937	SH		DFND	0	57,429	0	508
TAIWAN SEMICONDUCTOR MFG CO AD	CS	874039100	26,504	243,072	SH		SOLE	0	79,172	0	163,900
TAIWAN SEMICONDUCTOR MFG CO AD	CS	874039100	3,527	32,343	SH		DFND	0	32,047	0	296
TARGET CORP COM	CS	87612E106	46,708	264,589	SH		SOLE	0	18,494	0	246,095
TE CONNECTIVITY LTD.	CS	H84989104	34,797	287,410	SH		SOLE	0	31,028	0	256,382
TECHTRONIC INDUSTRIES CO	CS	87873R101	28,528	399,779	SH		SOLE	0	129,779	0	270,000
TECHTRONIC INDUSTRIES CO	CS	87873R101	4,096	57,403	SH		DFND	0	56,756	0	647
TERADYNE INC	CS	880770102	15,268	127,350	SH		SOLE	0	350	0	127,000
TEXAS ROADHOUSE	CS	882681109	3,513	44,947	SH		SOLE	0	44,947	0	0
TODD IIV COLLECTIVE FUND	CIT	41024C711	544	42,500	SH		SOLE	0	42,500	0	0
TOKYO ELECTRON LTD	CS	889110102	29,995	320,512	SH		SOLE	0	104,012	0	216,500
TOKYO ELECTRON LTD	CS	889110102	4,461	47,665	SH		DFND	0	47,226	0	439
TOTAL SE	CS	89151E109	46,885	1,118,715	SH		SOLE	0	239,662	0	879,053
TOTAL SE	CS	89151E109	2,496	59,550	SH		DFND	0	58,985	0	565
TRACTOR SUPPLY	CS	892356106	14,728	104,763	SH		SOLE	0	463	0	104,300
UBS GROUP AG	CS	H42097107	13,422	949,900	SH		SOLE	0	304,300	0	645,600
UBS GROUP AG	CS	H42097107	1,826	129,206	SH		DFND	0	128,087	0	1,119
UNILEVER	CS	904767704	2,951	48,893	SH		SOLE	0	48,893	0	0
UNION PAC CORP COM	CS	907818108	28,012	134,530	SH		SOLE	0	14,246	0	120,284
UNITED HEALTHCARE CORP	CS	91324p102	33,369	95,156	SH		SOLE	0	9,814	0	85,342
UNITED RENTALS INC	CS	911363109	65,486	282,378	SH		SOLE	0	20,890	0	261,488
VANGUARD BD INDEX FD INC	BF	921937827	626	7,555	SH		SOLE	0	7,555	0	0
VANGUARD INTERMEDIATE-TERM COR	BF	92206C870	209	2,150	SH		SOLE	0	2,150	0	0
VANGUARD S&P 500 ETF	ETF	922908363	1,943	5,653	SH		SOLE	0	5,653	0	0
VEOLIA ENVIRONMENT	CS	92334N103	11,657	480,101	SH		SOLE	0	153,101	0	327,000
VEOLIA ENVIRONMENT	CS	92334N103	1,606	66,128	SH		DFND	0	65,570	0	558
VERIZON COMMUNICATIONS	CS	92343V104	21,137	359,767	SH		SOLE	0	59,381	0	300,386
VIPSHOP HOLDINGS LTD ADS	CS	92763W103	36,199	1,287,745	SH		SOLE	0	362,745	0	925,000
VIPSHOP HOLDINGS LTD ADS	CS	92763W103	4,203	149,509	SH		DFND	0	148,106	0	1,403
W.W. GRAINGER INC.	CS	384802104	17,267	42,286	SH		SOLE	0	186	0	42,100
WNS HOLDINGS LTD	CS	92932M101	15,362	213,219	SH		SOLE	0	67,419	0	145,800
WNS HOLDINGS LTD	CS	92932M101	1,942	26,951	SH		DFND	0	26,702	0	249
YAMANA GOLD INC	CS	98462Y100	2,550	446,600	SH		SOLE	0	0	0	446,600
YANDEX N.V.	CS	N97284108	23,156	332,800	SH		SOLE	0	108,000	0	224,800
YANDEX N.V.	CS	N97284108	3,639	52,306	SH		DFND	0	51,792	0	514
ZIONS BANCORPORATION	CS	989701107	17,878	411,547	SH		SOLE	0	42,783	0	368,764
ZTO EXPRESS INC	CS	98980A105	20,869	715,683	SH		SOLE	0	200,783	0	514,900
ZTO EXPRESS INC	CS	98980A105	2,152	73,790	SH		DFND	0	73,148	0	642