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	47,044	347,449	SH		SOLE	0	46,285	0	301,164
AERCAP HOLDINGS NV	CS	N00985106	6,719	102,705	SH		DFND	0	102,120	0	585
AERCAP HOLDINGS NV	CS	N00985106	32,495	496,713	SH		SOLE	0	177,183	0	319,530
AKAMAI TECHNOLGIES	CS	00971T101	30,013	256,435	SH		SOLE	0	26,083	0	230,352
ALIBABA GROUP HOLDING	CS	01609W102	1,479	12,448	SH		DFND	0	12,366	0	82
ALIBABA GROUP HOLDING	CS	01609W102	10,680	89,911	SH		SOLE	0	32,291	0	57,620
ALLIANZ SE	CS	018820100	1,034	43,779	SH		SOLE	0	43,779	0	0
ALPHABET INC	CS	02079K305	59,233	20,446	SH		SOLE	0	1,976	0	18,470
ALTRIA GROUP INC COM	CS	02209S103	13,942	294,214	SH		SOLE	0	47,956	0	246,258
AMDOCS LTD	CS	G02602103	3,423	45,736	SH		DFND	0	45,506	0	230
AMDOCS LTD	CS	G02602103	22,263	297,479	SH		SOLE	0	90,579	0	206,900
AMERICAN EXPRESS CO	CS	025816109	34,310	209,721	SH		SOLE	0	21,299	0	188,422
AMERIPRISE FINANCIAL INC	CS	03076C106	67,893	225,065	SH		SOLE	0	15,391	0	209,674
AMGEN INC	CS	031162100	30,801	136,915	SH		SOLE	0	13,968	0	122,947
ANGLO AMERICAN PLC ADR	CS	03485P300	2,752	133,701	SH		DFND	0	132,925	0	776
ANGLO AMERICAN PLC ADR	CS	03485P300	16,948	823,484	SH		SOLE	0	294,484	0	529,000
ANTHEM, INC	CS	036752103	30,603	66,021	SH		SOLE	0	6,717	0	59,304
AON CORP.	CS	G0403H108	4,166	13,862	SH		DFND	0	13,790	0	72
AON CORP.	CS	G0403H108	22,343	74,340	SH		SOLE	0	25,763	0	48,577
AP MOLLER MAERSK	CS	00202F102	4,627	258,150	SH		SOLE	0	0	0	258,150
APPLE COMPUTER INC	CS	037833100	43,621	245,657	SH		SOLE	0	29,434	0	216,223
APTIV PLC ORDINARY	CS	G6095L109	8	48	SH		DFND	0	48	0	0
APTIV PLC ORDINARY	CS	G6095L109	483	2,929	SH		SOLE	0	0	0	2,929
ASHLAND GLOBAL HOLDINGS INC	CS	044209104	241	2,240	SH		SOLE	0	2,240	0	0
ASHTEAD GROUP PLC UNSP	CS	045055100	6,604	20,085	SH		DFND	0	19,973	0	112
ASHTEAD GROUP PLC UNSP	CS	045055100	32,984	100,327	SH		SOLE	0	36,137	0	64,190
ASTELLAS PHARMA INC	CS	04623U102	3,148	193,500	SH		SOLE	0	0	0	193,500
AT&T INC COM	CS	00206R102	512	20,801	SH		SOLE	0	18,341	0	2,460
AUTOZONE INC	CS	053332102	71,038	33,886	SH		SOLE	0	2,241	0	31,645
AVERY DENNINSON	CS	053611109	9,904	45,730	SH		SOLE	0	3,308	0	42,422
AXA- SPONS ADR	CS	054536107	2,368	79,530	SH		DFND	0	79,090	0	440
AXA- SPONS ADR	CS	054536107	14,587	490,001	SH		SOLE	0	167,341	0	322,660
B & G FOODS INC	CS	05508R106	209	6,800	SH		SOLE	0	5,000	0	1,800
B A S F A G	CS	055262505	2,852	162,673	SH		DFND	0	161,753	0	920
B A S F A G	CS	055262505	16,082	917,444	SH		SOLE	0	329,844	0	587,600
BAE SYSTEMS PLC ADR	CS	05523R107	965	32,409	SH		SOLE	0	32,409	0	0
BAIDU INC	CS	056752108	2,365	15,897	SH		DFND	0	15,804	0	93
BAIDU INC	CS	056752108	16,906	113,620	SH		SOLE	0	40,400	0	73,220
BANCO SANTANDER SA ADS	CS	05964H105	2,521	766,236	SH		DFND	0	761,150	0	5,086
BANCO SANTANDER SA ADS	CS	05964H105	22,976	6,983,702	SH		SOLE	0	2,187,602	0	4,796,100
BANK NOVA SCOTIA HALIFAX	CS	064149107	1,271	17,727	SH		SOLE	0	17,727	0	0
BANK OF AMERICA CORPORATION	CS	060505104	46,761	1,051,034	SH		SOLE	0	107,232	0	943,802
BANK OF MONTREAL	CS	063671101	5,993	55,639	SH		DFND	0	55,346	0	293
BANK OF MONTREAL	CS	063671101	31,518	292,589	SH		SOLE	0	104,569	0	188,020
BARCLAYS ADR	CS	06738E204	3,823	369,387	SH		DFND	0	367,419	0	1,968
BARCLAYS ADR	CS	06738E204	25,689	2,482,032	SH		SOLE	0	779,232	0	1,702,800
BEST BUY INC COM	CS	086516101	46,906	461,678	SH		SOLE	0	28,790	0	432,888
BLACKROCK INC	CS	09247X101	500	546	SH		SOLE	0	336	0	210
BNP PARIBAS PA ADR	CS	05565A202	5,058	145,376	SH		DFND	0	144,649	0	727
BNP PARIBAS PA ADR	CS	05565A202	28,427	817,124	SH		SOLE	0	291,034	0	526,090
BRASKEM SA	CS	105532105	3,368	159,700	SH		SOLE	0	0	0	159,700
BRISTOL MYERS SQUIBB CO	CS	110122108	21,868	350,727	SH		SOLE	0	36,014	0	314,713
BRITISH AMERN TOB PLC ADR	CS	110448107	1,883	50,341	SH		DFND	0	50,070	0	271
BRITISH AMERN TOB PLC ADR	CS	110448107	8,627	230,613	SH		SOLE	0	33,333	0	197,280
BROADCOM LTD	CS	11135F101	54,671	82,160	SH		SOLE	0	11,348	0	70,812
BROWN FORMAN CL B	CS	115637209	239	3,279	SH		SOLE	0	937	0	2,342
CANADIAN NATL RY CO	CS	136375102	2,252	18,333	SH		DFND	0	18,234	0	99
CANADIAN NATL RY CO	CS	136375102	12,665	103,086	SH		SOLE	0	36,776	0	66,310
CAPGEMINI SE	CS	13961R100	6,350	129,747	SH		DFND	0	129,107	0	640
CAPGEMINI SE	CS	13961R100	35,493	725,234	SH		SOLE	0	259,014	0	466,220
CAPRI HOLDINGS LTD	CS	G1890L107	4,198	64,680	SH		SOLE	0	0	0	64,680
CAREFOUR SA SPON ADR	CS	144430204	3,409	931,300	SH		SOLE	0	0	0	931,300
CARRIER GLOBAL CORPORATION	CS	14448C104	237	4,377	SH		SOLE	0	898	0	3,479
CERNER CORP	CS	156782104	26,551	285,889	SH		SOLE	0	1,249	0	284,640
CHARTER COMMUNICATIONS INC DEL	CS	16119P108	17,810	27,317	SH		SOLE	0	117	0	27,200
CHEVRON CORP NEW COM	CS	166764100	29,569	251,975	SH		SOLE	0	32,194	0	219,781
CHUGAI PHARMA UNSUP ADR	CS	171269103	3,131	191,400	SH		SOLE	0	0	0	191,400
CIGNA CORP	CS	125523100	23,055	100,399	SH		SOLE	0	436	0	99,963
CISCO SYS INC COM	CS	17275R102	420	6,626	SH		SOLE	0	336	0	6,290
CITIZENS FINANCIAL GROUP INC	CS	174610105	51,338	1,086,519	SH		SOLE	0	129,682	0	956,837
COMCAST CORP CL A	CS	20030N101	15,168	301,381	SH		SOLE	0	31,494	0	269,887
COMERICA INC.	CS	200340107	21,671	249,087	SH		SOLE	0	1,087	0	248,000
COMPAGNIE DE SAINT GOB	CS	204280309	2,396	170,565	SH		DFND	0	169,586	0	979
COMPAGNIE DE SAINT GOB	CS	204280309	14,868	1,058,190	SH		SOLE	0	380,190	0	678,000
CONOCOPHILLIPS	CS	20825C104	30,917	428,335	SH		SOLE	0	42,929	0	385,406
CRH PLC ADR	CS	12626K203	5,580	105,678	SH		DFND	0	105,135	0	543
CRH PLC ADR	CS	12626K203	29,850	565,347	SH		SOLE	0	203,217	0	362,130
DAIWA HOUSE INDUSTRY	CS	234062206	1,150	40,075	SH		DFND	0	39,854	0	221
DAIWA HOUSE INDUSTRY	CS	234062206	7,343	255,842	SH		SOLE	0	90,842	0	165,000
DANONE SPON ADR	CS	23636T100	1,400	113,015	SH		DFND	0	112,261	0	754
DANONE SPON ADR	CS	23636T100	10,384	838,065	SH		SOLE	0	301,655	0	536,410
DAVITA INC	CS	23918K108	51,953	456,688	SH		SOLE	0	26,692	0	429,996
DBS GROUP HOLDINGS LTD	CS	23304Y100	5,275	54,179	SH		DFND	0	53,898	0	281
DBS GROUP HOLDINGS LTD	CS	23304Y100	29,128	299,180	SH		SOLE	0	107,100	0	192,080
DELL TECHNOLOGIES, INC	CS	24703L202	9,408	167,494	SH		SOLE	0	12,082	0	155,412
DEUTSCHE POST AG SPON	CS	25157Y202	1,195	18,645	SH		DFND	0	18,544	0	101
DEUTSCHE POST AG SPON	CS	25157Y202	7,563	118,025	SH		SOLE	0	42,025	0	76,000
DIAMONDBACK ENERGY INC	CS	25278X109	22,845	211,825	SH		SOLE	0	925	0	210,900
DIGITAL REALTY TRUST INC	CS	253868103	10,487	59,296	SH		SOLE	0	4,246	0	55,050
DXC TECHNOLOGY	CS	23355L106	19,035	591,335	SH		SOLE	0	1,635	0	589,700
EASTMAN CHEMICAL CO	CS	277432100	29,570	244,566	SH		SOLE	0	24,602	0	219,964
EATON VANCE MUNICIPAL BD	CS	27827X101	310	22,829	SH		SOLE	0	22,829	0	0
EBAY INC	CS	278642103	19,142	287,857	SH		SOLE	0	797	0	287,060
ELECTROLUX	CS	010198208	508	10,457	SH		SOLE	0	10,457	0	0
ELI LILLY & CO	CS	532457108	276	1,000	SH		SOLE	0	0	0	1,000
EMERSON ELEC CO COM	CS	291011104	271	2,918	SH		SOLE	0	0	0	2,918
EQUINOR ASA	CS	29446M102	4,112	156,187	SH		DFND	0	155,403	0	784
EQUINOR ASA	CS	29446M102	48,664	1,848,225	SH		SOLE	0	398,802	0	1,449,423
ERICSSON	CS	294821608	3,250	298,997	SH		DFND	0	297,286	0	1,711
ERICSSON	CS	294821608	20,532	1,888,926	SH		SOLE	0	673,966	0	1,214,960
EXXON MOBIL	CS	30231G102	567	9,269	SH		SOLE	0	4,901	0	4,368
F5 NETWORKS	CS	315616102	44,182	180,549	SH		SOLE	0	18,311	0	162,238
FIFTH THIRD BANCORP	CS	316773100	56,489	1,297,098	SH		SOLE	0	84,323	0	1,212,775
FORD MOTOR CO	CS	345370860	29,517	1,421,123	SH		SOLE	0	3,923	0	1,417,200
FUJIFILM HOLDINGS CORP	CS	35958N107	5,063	68,204	SH		DFND	0	67,860	0	344
FUJIFILM HOLDINGS CORP	CS	35958N107	26,919	362,586	SH		SOLE	0	130,416	0	232,170
FUJITSU LIMITED ADR	CS	359590304	1,541	44,638	SH		DFND	0	44,354	0	284
FUJITSU LIMITED ADR	CS	359590304	13,822	400,400	SH		SOLE	0	110,890	0	289,510
GENERAL MILLS	CS	370334104	1,548	22,981	SH		SOLE	0	21,177	0	1,804
GILEAD SCIENCES INC	CS	375558103	1,119	15,408	SH		SOLE	0	15,408	0	0
HCA HEALTHCARE INC	CS	40412C101	20,843	81,128	SH		SOLE	0	228	0	80,900
HDFC BANK LTD	CS	40415F101	4,162	63,958	SH		DFND	0	63,612	0	346
HDFC BANK LTD	CS	40415F101	23,611	362,856	SH		SOLE	0	130,596	0	232,260
HELLO GROUP INC.	CS	423403104	718	79,948	SH		DFND	0	79,346	0	602
HELLO GROUP INC.	CS	423403104	5,028	560,013	SH		SOLE	0	201,763	0	358,250
HOME DEPOT	CS	437076102	37,224	89,695	SH		SOLE	0	9,682	0	80,013
HONDA MOTOR LTD AMERN SHS	CS	438128308	2,604	91,523	SH		DFND	0	90,883	0	640
HONDA MOTOR LTD AMERN SHS	CS	438128308	43,471	1,528,001	SH		SOLE	0	305,502	0	1,222,499
HORIZON THERAPEUTICS INC.	CS	G46188101	3,854	35,765	SH		DFND	0	35,580	0	185
HORIZON THERAPEUTICS INC.	CS	G46188101	51,936	481,961	SH		SOLE	0	102,095	0	379,866
HP INC	CS	40434L105	27,335	725,649	SH		SOLE	0	3,169	0	722,480
HUNTINGTON BANCSHARES INC	CS	446150104	897	58,141	SH		SOLE	0	58,141	0	0
ICON PLC - AMERICAN DEPOSITARY	CS	G4705A100	2,556	8,254	SH		DFND	0	8,209	0	45
ICON PLC - AMERICAN DEPOSITARY	CS	G4705A100	13,676	44,158	SH		SOLE	0	15,668	0	28,490
ILLINOIS TOOL WKS INC COM	CS	452308109	19,980	80,956	SH		SOLE	0	8,349	0	72,607
INCYTE CORP	CS	45337C102	21,394	291,474	SH		SOLE	0	1,274	0	290,200
INFOSYS TECHNOLOGIES LTD	CS	456788108	4,386	173,274	SH		DFND	0	172,230	0	1,044
INFOSYS TECHNOLOGIES LTD	CS	456788108	23,780	939,543	SH		SOLE	0	336,433	0	603,110
ING GROUP N V	CS	456837103	4,694	337,194	SH		DFND	0	335,461	0	1,733
ING GROUP N V	CS	456837103	29,044	2,086,473	SH		SOLE	0	663,093	0	1,423,380
INTEL CORP	CS	458140100	403	7,821	SH		SOLE	0	346	0	7,475
INTL. BUSINESS MACHS CO	CS	459200101	831	6,218	SH		SOLE	0	6,218	0	0
INVESCO PLC	CS	G491BT108	22,127	961,219	SH		SOLE	0	2,309	0	958,910
IQVIA HOLDINGS INC	CS	46266C105	42,279	149,850	SH		SOLE	0	15,201	0	134,649
ISHARES BARCLAYS TIPS BOND FUN	BF	464287176	266	2,060	SH		SOLE	0	2,060	0	0
ISHARES MSCI ACWI EX US ETF	ETF	464288240	18,441	331,676	SH		DFND	0	331,571	0	105
ISHARES NATIONAL MUNI BOND ETF	BF	464288414	770	6,625	SH		SOLE	0	0	0	6,625
ITAU UNIBANCO HOLDINGS SA	CS	465562106	1,572	419,118	SH		DFND	0	416,094	0	3,024
ITAU UNIBANCO HOLDINGS SA	CS	465562106	10,766	2,870,881	SH		SOLE	0	1,023,181	0	1,847,700
ITOCHU CORPORATION	CS	465717106	4,580	74,413	SH		DFND	0	74,024	0	389
ITOCHU CORPORATION	CS	465717106	25,313	411,270	SH		SOLE	0	148,000	0	263,270
J P MORGAN CHASE & CO	CS	46625H100	54,736	345,664	SH		SOLE	0	34,879	0	310,785
JACOBS ENGINEERING GROUP	CS	469814107	48,115	345,577	SH		SOLE	0	33,107	0	312,470
JAZZ PHARMACEUTICALS INC	CS	G50871105	324	2,540	SH		SOLE	0	1,328	0	1,212
JOHNSON & JOHNSON COM	CS	478160104	562	3,288	SH		SOLE	0	800	0	2,488
JOHNSON CONTROLS INTERNATIONAL	CS	G51502105	27,571	339,085	SH		SOLE	0	815	0	338,270
JULIUS BAER GROUP LTD ADR	CS	48137C108	4,174	313,498	SH		DFND	0	311,742	0	1,756
JULIUS BAER GROUP LTD ADR	CS	48137C108	43	3,199	SH		SOLE	0	3,199	0	0
KB FINANCIAL GROUP INC	CS	48241A105	3,626	78,562	SH		DFND	0	78,149	0	413
KB FINANCIAL GROUP INC	CS	48241A105	20,691	448,233	SH		SOLE	0	161,233	0	287,000
KERING UNSPONSORED ADR	CS	492089107	614	7,622	SH		SOLE	0	7,622	0	0
KIRIN HOLDINGS	CS	497350306	2,950	182,570	SH		SOLE	0	0	0	182,570
KIRKLAND LAKE GOLD INC	CS	49741E100	3,029	72,200	SH		SOLE	0	0	0	72,200
KOMATSU LTD	CS	500458401	2,591	110,881	SH		DFND	0	110,231	0	650
KOMATSU LTD	CS	500458401	15,981	683,836	SH		SOLE	0	245,756	0	438,080
KONINKLIJKE	CS	500467501	3,477	101,078	SH		DFND	0	100,580	0	498
KONINKLIJKE	CS	500467501	22,321	648,881	SH		SOLE	0	193,131	0	455,750
KONINKLIJKE PHILIPS ELECT	CS	500472303	1,296	35,180	SH		DFND	0	34,918	0	262
KONINKLIJKE PHILIPS ELECT	CS	500472303	9,786	265,564	SH		SOLE	0	95,119	0	170,445
KT CORPORATION	CS	48268K101	3,188	253,600	SH		SOLE	0	0	0	253,600
LAZARD LTD	CS	G54050102	21,540	493,698	SH		SOLE	0	176,068	0	317,630
LINCOLN NATIONAL CORP	CS	534187109	32,136	470,784	SH		SOLE	0	47,178	0	423,606
LOGITECH INTERNATIONAL S.A.	CS	H50430232	3,071	37,230	SH		SOLE	0	0	0	37,230
LOWE'S CO.	CS	548661107	25,519	98,729	SH		SOLE	0	429	0	98,300
LUMENTUM HOLDINGS INC	CS	55024U109	31,598	298,738	SH		SOLE	0	30,047	0	268,691
LVMH Moet Hennessy	CS	502441306	3,834	23,164	SH		DFND	0	23,046	0	118
LVMH Moet Hennessy	CS	502441306	19,438	117,452	SH		SOLE	0	39,672	0	77,780
LYONDELLBASELL INDUSTRIES	CS	N53745100	4,244	46,014	SH		DFND	0	45,764	0	250
LYONDELLBASELL INDUSTRIES	CS	N53745100	24,489	265,524	SH		SOLE	0	103,134	0	162,390
MAGNA INTERNATIONAL INC	CS	559222401	4,057	50,123	SH		DFND	0	49,865	0	258
MAGNA INTERNATIONAL INC	CS	559222401	21,932	270,962	SH		SOLE	0	97,632	0	173,330
MANULIFE FINANACIAL CORP	CS	56501R106	869	45,574	SH		SOLE	0	45,574	0	0
MASCO CORP	CS	574599106	61,920	881,808	SH		SOLE	0	52,704	0	829,104
MCDONALDS CORP	CS	580135101	1,284	4,788	SH		SOLE	0	2,627	0	2,161
MCKESSON CORP COM	CS	58155Q103	25,545	102,766	SH		SOLE	0	281	0	102,485
METLIFE INC.	CS	59156R108	1,378	22,049	SH		SOLE	0	22,049	0	0
MICROSOFT CORP	CS	594918104	4,230	12,576	SH		SOLE	0	8,463	0	4,113
MITSUBISHI UFJ FINL GROUP ADR	CS	606822104	2,029	371,686	SH		DFND	0	369,805	0	1,881
MITSUBISHI UFJ FINL GROUP ADR	CS	606822104	9,357	1,713,568	SH		SOLE	0	600,658	0	1,112,910
MOBILE TELESYSTEMS OJSC	CS	607409109	23,193	291,742	SH		DFND	0	289,826	0	1,916
MOBILE TELESYSTEMS OJSC	CS	607409109	18,898	2,377,123	SH		SOLE	0	718,223	0	1,658,900
MORGAN STANLEY COM NEW	CS	617446448	51,185	521,443	SH		SOLE	0	51,547	0	469,896
NASPERS LIMITED ADR	CS	631512209	2,536	81,820	SH		DFND	0	81,212	0	608
NASPERS LIMITED ADR	CS	631512209	20,423	658,819	SH		SOLE	0	236,309	0	422,510
NATIONAL GRID TRANSCO PLC ADR	CS	636274409	1,033	14,277	SH		SOLE	0	14,277	0	0
NATWEST GR	CS	639057108	3,232	529,000	SH		SOLE	0	0	0	529,000
NETAPP	CS	64110D104	20,543	223,319	SH		SOLE	0	619	0	222,700
NETEASE INC. ADR	CS	64110W102	2,299	22,591	SH		DFND	0	22,467	0	124
NETEASE INC. ADR	CS	64110W102	12,650	124,287	SH		SOLE	0	44,697	0	79,590
NINTENDO LTD	CS	654445303	3,420	58,600	SH		SOLE	0	0	0	58,600
NIPPON TELEG & TEL CORP	CS	654624105	2,819	102,858	SH		DFND	0	102,351	0	507
NIPPON TELEG & TEL CORP	CS	654624105	15,648	570,886	SH		SOLE	0	203,996	0	366,890
NUCOR CORP	CS	670346105	23,240	203,589	SH		SOLE	0	889	0	202,700
NVIDIA CORP	CS	67066g104	1,312	4,460	SH		SOLE	0	0	0	4,460
NVR INC	CS	62944T105	45,983	7,782	SH		SOLE	0	746	0	7,036
NXP SEMICONDUCTORS NV	CS	N6596X109	7,144	31,362	SH		DFND	0	31,180	0	182
NXP SEMICONDUCTORS NV	CS	N6596X109	37,294	163,726	SH		SOLE	0	58,786	0	104,940
OMEGA HEALTHCARE INVS	CS	681936100	395	13,343	SH		SOLE	0	13,343	0	0
ON SEMICONDUCTOR CORP	CS	682189105	54,489	802,249	SH		SOLE	0	87,719	0	714,530
OPEN TEXT CORPORATION	CS	683715106	37,904	79,833	SH		DFND	0	79,442	0	391
OPEN TEXT CORPORATION	CS	683715106	42,421	893,466	SH		SOLE	0	194,388	0	699,078
ORANGE	CS	684060106	304	28,824	SH		SOLE	0	28,824	0	0
ORIX CORP ADR	CS	686330101	3,114	30,593	SH		DFND	0	30,434	0	159
ORIX CORP ADR	CS	686330101	20,859	204,943	SH		SOLE	0	60,853	0	144,090
OSHKOSH CORPORATION	CS	688239201	34,998	310,513	SH		SOLE	0	31,485	0	279,028
PANASONIC CORPORATION	CS	69832A205	254	23,074	SH		SOLE	0	23,074	0	0
PARKER HANNIFIN CORP	CS	701094104	39,275	123,459	SH		SOLE	0	12,459	0	111,000
PFIZER INC	CS	717081103	1,820	30,829	SH		SOLE	0	30,829	0	0
PHILIP MORRIS INTL INC COM	CS	718172109	1,819	19,146	SH		SOLE	0	15,187	0	3,959
PHILLIPS 66	CS	718546104	18,220	251,447	SH		SOLE	0	17,940	0	233,507
PING AN INSURANCE GROUP	CS	72341E304	1,551	108,149	SH		DFND	0	107,463	0	686
PING AN INSURANCE GROUP	CS	72341E304	10,314	719,221	SH		SOLE	0	257,571	0	461,650
PJSC LUKOIL CO ADR	CS	69343P105	5,709	63,578	SH		DFND	0	63,238	0	340
PJSC LUKOIL CO ADR	CS	69343P105	33,002	367,529	SH		SOLE	0	133,429	0	234,100
PORSCHE AUTOMOBILE HOLDINGS	CS	73328P106	3,081	328,160	SH		SOLE	0	0	0	328,160
PPL CORP	CS	69351T106	1,059	35,224	SH		SOLE	0	35,224	0	0
PROCTER & GAMBLE	CS	742718109	559	3,415	SH		SOLE	0	661	0	2,754
PROGRESSIVE CORP OHIO	CS	743315103	32,936	320,859	SH		SOLE	0	29,766	0	291,093
PULTEGROUP INC.	CS	745867101	39,426	689,760	SH		SOLE	0	68,797	0	620,963
QORVO, INC	CS	74736K101	34,417	220,069	SH		SOLE	0	20,645	0	199,424
QUALCOMM INC	CS	747525103	85,322	466,571	SH		SOLE	0	32,249	0	434,322
QUANTA SERVICES INC	CS	74762E102	276	2,406	SH		SOLE	0	0	0	2,406
RAYTHEON TECHNOLOGIES CORP	CS	75513E101	377	4,377	SH		SOLE	0	898	0	3,479
REPSOL S.A.	CS	76026T205	3,715	313,633	SH		DFND	0	311,778	0	1,855
REPSOL S.A.	CS	76026T205	26,500	2,237,314	SH		SOLE	0	709,354	0	1,527,960
RIO TINTO PLC ADR	CS	767204100	4,661	69,626	SH		DFND	0	69,249	0	377
RIO TINTO PLC ADR	CS	767204100	62,450	932,934	SH		SOLE	0	190,714	0	742,220
ROCHE HLDG LTD	CS	771195104	2,248	43,496	SH		DFND	0	43,278	0	218
ROCHE HLDG LTD	CS	771195104	11,481	222,116	SH		SOLE	0	76,736	0	145,380
ROSS STORES INC COM	CS	778296103	405	3,544	SH		SOLE	0	0	0	3,544
ROYAL DUTCH SHELL PLC	CS	780259206	4,943	113,898	SH		DFND	0	113,309	0	589
ROYAL DUTCH SHELL PLC	CS	780259206	58,294	1,343,187	SH		SOLE	0	289,025	0	1,054,162
S&P DEPOSITORY RECEIPTS (SPDR)	ETF	78462F103	7,358	15,492	SH		SOLE	0	15,492	0	0
SASOL LTD ADR	CS	803866300	2,979	181,620	SH		SOLE	0	0	0	181,620
SBERBANK OF RUSSIA	CS	80585Y308	4,183	265,567	SH		DFND	0	264,223	0	1,344
SBERBANK OF RUSSIA	CS	80585Y308	22,109	1,403,789	SH		SOLE	0	539,879	0	863,910
SEAGATE TECHNOLOGY HOLDINGS PL	CS	G7997R103	32,125	284,346	SH		SOLE	0	1,056	0	283,290
SEMPRA ENERGY	CS	816851109	10,244	77,437	SH		SOLE	0	7,773	0	69,664
SENSATA TECHNOLOGIES HOLDING P	CS	G8060N102	3,717	60,258	SH		DFND	0	59,918	0	340
SENSATA TECHNOLOGIES HOLDING P	CS	G8060N102	20,362	330,063	SH		SOLE	0	116,403	0	213,660
SHIONOGI & CO LTD UNSP	CS	824667109	3,184	180,235	SH		DFND	0	179,314	0	921
SHIONOGI & CO LTD UNSP	CS	824667109	17,816	1,008,574	SH		SOLE	0	348,724	0	659,850
SONY GROUP CORPORATION	CS	835699307	6,576	52,028	SH		DFND	0	51,768	0	260
SONY GROUP CORPORATION	CS	835699307	35,196	278,444	SH		SOLE	0	98,344	0	180,100
SPDR MSCI ACWI EX US	CS	78463X848	1,340	45,711	SH		DFND	0	45,711	0	0
STELLANTIS NV	CS	NL0015000	3,158	168,360	SH		SOLE	0	0	0	168,360
STOCK YARDS BANCORP, INC	CS	861025104	225	3,518	SH		SOLE	0	3,518	0	0
SUN LIFE FINANCIAL	CS	866796105	4,309	77,382	SH		DFND	0	76,984	0	398
SUN LIFE FINANCIAL	CS	866796105	23,597	423,722	SH		SOLE	0	164,552	0	259,170
TAIWAN SEMICONDUCTOR MFG CO AD	CS	874039100	3,622	30,108	SH		DFND	0	29,955	0	153
TAIWAN SEMICONDUCTOR MFG CO AD	CS	874039100	19,186	159,470	SH		SOLE	0	57,440	0	102,030
TAPESTRY	CS	876030107	21,971	541,165	SH		SOLE	0	2,365	0	538,800
TARGET CORP COM	CS	87612E106	57,760	249,567	SH		SOLE	0	16,413	0	233,154
TE CONNECTIVITY LTD.	CS	H84989104	41,449	256,906	SH		SOLE	0	27,061	0	229,845
TECHTRONIC INDUSTRIES CO	CS	87873R101	2,614	26,301	SH		DFND	0	26,169	0	132
TECHTRONIC INDUSTRIES CO	CS	87873R101	13,173	132,528	SH		SOLE	0	47,638	0	84,890
TECK RESOURCES LIMITED	CS	878742204	2,571	89,200	SH		SOLE	0	0	0	89,200
TERADYNE INC	CS	880770102	30,165	184,461	SH		SOLE	0	511	0	183,950
TERNIUM SA ADR	CS	880890108	3,301	75,860	SH		SOLE	0	0	0	75,860
TEXAS ROADHOUSE	CS	882681109	3,686	41,282	SH		SOLE	0	41,282	0	0
TOKYO ELECTRON LTD	CS	889110102	7,451	51,776	SH		DFND	0	51,457	0	319
TOKYO ELECTRON LTD	CS	889110102	38,403	266,874	SH		SOLE	0	95,114	0	171,760
TOTALENERGIES, SE	CS	89151E109	5,275	106,654	SH		DFND	0	106,113	0	541
TOTALENERGIES, SE	CS	89151E109	69,760	1,410,442	SH		SOLE	0	293,139	0	1,117,303
UBS GROUP AG	CS	H42097107	6,117	342,291	SH		DFND	0	340,583	0	1,708
UBS GROUP AG	CS	H42097107	32,942	1,843,430	SH		SOLE	0	656,810	0	1,186,620
UNILEVER	CS	904767704	2,803	52,114	SH		SOLE	0	52,114	0	0
UNION PAC CORP COM	CS	907818108	31,862	126,472	SH		SOLE	0	12,901	0	113,571
UNITED HEALTHCARE CORP	CS	91324p102	45,206	90,027	SH		SOLE	0	8,843	0	81,184
UNITED RENTALS INC	CS	911363109	54,154	162,972	SH		SOLE	0	16,568	0	146,404
VALE SA	CS	91912E105	2,281	162,706	SH		DFND	0	161,659	0	1,047
VALE SA	CS	91912E105	38,498	2,745,913	SH		SOLE	0	564,614	0	2,181,299
VANGUARD BD INDEX FD INC	BF	921937827	569	7,050	SH		SOLE	0	7,050	0	0
VANGUARD S&P 500 ETF	ETF	922908363	2,408	5,516	SH		SOLE	0	5,516	0	0
VEOLIA ENVIRONMENT	CS	92334N103	3,264	88,695	SH		DFND	0	88,252	0	443
VEOLIA ENVIRONMENT	CS	92334N103	16,404	445,759	SH		SOLE	0	157,639	0	288,120
VERIZON COMMUNICATIONS	CS	92343V104	17,429	335,439	SH		SOLE	0	49,798	0	285,641
VIPSHOP HOLDINGS LTD ADS	CS	92763W103	1,044	124,296	SH		DFND	0	123,408	0	888
VIPSHOP HOLDINGS LTD ADS	CS	92763W103	7,128	848,550	SH		SOLE	0	301,920	0	546,630
W.W. GRAINGER INC.	CS	384802104	26,469	51,074	SH		SOLE	0	224	0	50,850
YARA INTL ASA ADR	CS	984851204	3,314	130,900	SH		SOLE	0	0	0	130,900
ZIONS BANCORPORATION	CS	989701107	50,891	805,736	SH		SOLE	0	47,382	0	758,354
ZTO EXPRESS INC	CS	98980A105	4,057	143,755	SH		DFND	0	143,015	0	740
ZTO EXPRESS INC	CS	98980A105	25,363	898,770	SH		SOLE	0	320,400	0	578,370