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
3M CO	CS	88579Y101	321,401	2,940	SH		SOLE	0	800	0	0
ABBVIE	CS	00287Y109	38,099,374	245,850	SH		SOLE	0	213,288	0	0
AERCAP HOLDINGS NV	CS	N00985106	29,786,341	400,785	SH		SOLE	0	248,760	0	0
AERCAP HOLDINGS NV	CS	N00985106	5,690,000	76,561	SH		DFND	0	217	0	0
AKAMAI TECHNOLGIES	CS	00971T101	32,750,759	276,728	SH		SOLE	0	257,339	0	0
ALIBABA GROUP HOLDING	CS	01609W102	14,915,714	192,436	SH		SOLE	0	117,990	0	0
ALIBABA GROUP HOLDING	CS	01609W102	2,392,325	30,865	SH		DFND	0	103	0	0
ALKERMES INC	CS	G01767105	3,413,352	123,048	SH		SOLE	0	108,600	0	0
ALLIANZ SE	CS	018820100	962,255	36,053	SH		SOLE	0	36,053	0	0
ALPHABET INC	CS	02079K305	22,715,270	162,612	SH		SOLE	0	142,683	0	0
ALTRIA GROUP INC COM	CS	02209S103	30,038,213	744,626	SH		SOLE	0	675,468	0	0
AMDOCS LTD	CS	G02602103	25,935,372	295,089	SH		SOLE	0	179,750	0	0
AMERICA MOVIL SAB DE CV SPON A	CS	02390A101	15,500,148	836,941	SH		SOLE	0	518,300	0	0
AMERICA MOVIL SAB DE CV SPON A	CS	02390A101	2,689,022	145,196	SH		DFND	0	443	0	0
AMERICAN EXPRESS CO	CS	025816109	37,949,276	202,569	SH		SOLE	0	183,216	0	0
AMERIPRISE FINANCIAL INC	CS	03076C106	54,476,358	143,423	SH		SOLE	0	130,237	0	0
AMGEN INC	CS	031162100	39,217,668	136,163	SH		SOLE	0	122,912	0	0
ANA HOLDINGS INC SP ADR	CS	032350100	1,451,044	341,422	SH		SOLE	0	341,422	0	0
AON CORP.	CS	G0403H108	13,978,272	48,032	SH		SOLE	0	30,107	0	0
AON CORP.	CS	G0403H108	2,517,395	8,650	SH		DFND	0	26	0	0
APA CORPORATION	CS	03743Q108	18,108,134	504,686	SH		SOLE	0	503,100	0	0
APOLLO GLOBAL MANAGEMENT LLC	CS	03769M106	23,093,600	247,812	SH		SOLE	0	232,654	0	0
APPLE COMPUTER INC	CS	037833100	3,331,732	17,305	SH		SOLE	0	5,598	0	0
ARCELORMITTAL SA LUXEMBOU	CS	03938L203	3,721,929	131,100	SH		SOLE	0	131,100	0	0
ASHTEAD GROUP PLC UNSP	CS	045055100	25,934,458	91,241	SH		SOLE	0	55,960	0	0
ASHTEAD GROUP PLC UNSP	CS	045055100	4,538,648	16,296	SH		DFND	0	48	0	0
ASTRAZENECA PLC-SPONS ADR	CS	046353108	27,934,423	414,765	SH		SOLE	0	255,890	0	0
AUTOZONE INC	CS	053332102	58,853,655	22,762	SH		SOLE	0	21,125	0	0
AVERY DENNINSON	CS	053611109	10,399,515	51,442	SH		SOLE	0	48,179	0	0
AXA- SPONS ADR	CS	054536107	28,596,031	874,902	SH		SOLE	0	541,690	0	0
B A S F A G	CS	055262505	8,509,561	634,092	SH		SOLE	0	383,710	0	0
B A S F A G	CS	055262505	1,450,922	107,707	SH		DFND	0	329	0	0
BAE SYSTEMS PLC ADR	CS	05523R107	20,795,411	359,681	SH		SOLE	0	213,000	0	0
BAE SYSTEMS PLC ADR	CS	05523R107	3,593,736	63,464	SH		DFND	0	182	0	0
BAIDU INC	CS	056752108	15,731,909	132,101	SH		SOLE	0	81,510	0	0
BAIDU INC	CS	056752108	2,528,374	21,231	SH		DFND	0	66	0	0
BAKER HUGHES	CS	05722G100	19,998,547	585,095	SH		SOLE	0	582,200	0	0
BANCO BILBAO VIZCAYA ARG ADR	CS	05946K101	3,371,611	370,100	SH		SOLE	0	370,100	0	0
BANCO SANTANDER SA ADS	CS	05964H105	26,473,809	6,394,640	SH		SOLE	0	3,990,560	0	0
BANK NOVA SCOTIA HALIFAX	CS	064149107	272,859	5,604	SH		SOLE	0	5,604	0	0
BANK OF AMERICA CORPORATION	CS	060505104	23,573,276	700,127	SH		SOLE	0	626,756	0	0
BARCLAYS ADR	CS	06738E204	16,203,407	2,056,270	SH		SOLE	0	1,268,400	0	0
BARCLAYS ADR	CS	06738E204	2,824,731	358,469	SH		DFND	0	1,073	0	0
BAYERISCHE MOTOREN WERKE AG SP	CS	072743305	3,238,140	87,000	SH		SOLE	0	87,000	0	0
BEST BUY INC COM	CS	086516101	37,246,641	475,813	SH		SOLE	0	452,687	0	0
BLACKROCK INC	CS	09247X101	428,630	528	SH		SOLE	0	210	0	0
BNP PARIBAS PA ADR	CS	05565A202	29,673,515	854,166	SH		SOLE	0	535,270	0	0
BORG WARNER AUTOMOTIVE INC	CS	099724106	28,593,816	797,596	SH		SOLE	0	750,041	0	0
BP PLC	CS	055622104	24,070,372	679,954	SH		SOLE	0	445,650	0	0
BP PLC	CS	055622104	3,931,575	111,061	SH		DFND	0	318	0	0
BRISTOL MYERS SQUIBB CO	CS	110122108	27,755,888	540,945	SH		SOLE	0	510,679	0	0
BRITISH AMERN TOB PLC ADR	CS	110448107	4,985,861	170,224	SH		SOLE	0	138,920	0	0
BRITISH AMERN TOB PLC ADR	CS	110448107	1,183,741	40,415	SH		DFND	0	128	0	0
BROADCOM LTD	CS	11135F101	89,037,682	79,765	SH		SOLE	0	72,285	0	0
CANADIAN NATL RY CO	CS	136375102	14,569,939	115,975	SH		SOLE	0	71,380	0	0
CANADIAN NATL RY CO	CS	136375102	2,806,603	22,340	SH		DFND	0	65	0	0
CAPGEMINI SE	CS	13961R100	31,799,808	759,856	SH		SOLE	0	474,330	0	0
CAPGEMINI SE	CS	13961R100	5,533,601	132,697	SH		DFND	0	385	0	0
CARRIER GLOBAL CORPORATION	CS	14448C104	217,448	3,785	SH		SOLE	0	2,942	0	0
CDW CORP/DE	CS	12514G108	28,856,228	126,941	SH		SOLE	0	119,039	0	0
CHARTER COMMUNICATIONS INC DEL	CS	16119P108	17,812,427	45,828	SH		SOLE	0	45,600	0	0
CHEVRON CORP NEW COM	CS	166764100	27,050,762	181,354	SH		SOLE	0	157,793	0	0
CHUBB CP	CS	H1467J104	29,297,736	129,636	SH		SOLE	0	106,189	0	0
CHUBB CP	CS	H1467J104	1,991,932	8,814	SH		DFND	0	26	0	0
CHUGAI PHARMA UNSUP ADR	CS	171269103	4,142,853	219,780	SH		SOLE	0	193,200	0	0
CISCO SYS INC COM	CS	17275R102	334,746	6,626	SH		SOLE	0	6,290	0	0
CITIZENS FINANCIAL GROUP INC	CS	174610105	29,968,005	904,285	SH		SOLE	0	787,986	0	0
COMPAGNIE DE SAINT GOB	CS	204280309	31,326,567	2,123,840	SH		SOLE	0	1,285,580	0	0
COMPAGNIE DE SAINT GOB	CS	204280309	5,671,876	385,135	SH		DFND	0	1,131	0	0
CONOCOPHILLIPS	CS	20825C104	30,074,317	259,105	SH		SOLE	0	234,320	0	0
CRH PLC	CS	G25508105	40,870,171	590,951	SH		SOLE	0	368,410	0	0
CRH PLC	CS	G25508105	7,348,726	106,257	SH		DFND	0	311	0	0
CUMMINS INC.	CS	231021106	35,645,620	148,790	SH		SOLE	0	139,812	0	0
CVS CAREMARK CORPORATION COM	CS	126650100	17,908,444	226,804	SH		SOLE	0	214,038	0	0
DAIWA HOUSE INDUSTRY	CS	234062206	11,747,497	389,632	SH		SOLE	0	240,850	0	0
DAIWA HOUSE INDUSTRY	CS	234062206	2,235,108	73,761	SH		DFND	0	213	0	0
DANSKE BANK ADR	CS	236363206	3,420,602	256,800	SH		SOLE	0	256,800	0	0
DBS GROUP HOLDINGS LTD	CS	23304Y100	23,004,974	227,187	SH		SOLE	0	139,380	0	0
DBS GROUP HOLDINGS LTD	CS	23304Y100	4,275,127	42,198	SH		DFND	0	124	0	0
DELL TECHNOLOGIES, INC	CS	24703L202	47,108,930	615,803	SH		SOLE	0	569,906	0	0
DICK'S SPORTING GOODS	CS	253393102	21,168,147	144,050	SH		SOLE	0	135,446	0	0
DIGITAL REALTY TRUST INC	CS	253868103	7,721,931	57,378	SH		SOLE	0	53,489	0	0
DISCOVER FINANCIAL SERVICES	CS	254709108	24,851,528	221,099	SH		SOLE	0	219,900	0	0
DOW INC.	CS	260557103	309,243	5,639	SH		SOLE	0	5,639	0	0
DXC TECHNOLOGY	CS	23355L106	22,210,155	971,148	SH		SOLE	0	966,300	0	0
EASTMAN CHEMICAL CO	CS	277432100	16,871,699	187,839	SH		SOLE	0	169,373	0	0
EATON VANCE MUNICIPAL BD	CS	27827X101	231,258	22,829	SH		SOLE	0	22,829	0	0
EBAY INC	CS	278642103	20,155,668	462,074	SH		SOLE	0	460,620	0	0
ELEVANCE HEALTH INC	CS	036752103	28,249,273	59,906	SH		SOLE	0	54,208	0	0
ELI LILLY & CO	CS	532457108	216,263	371	SH		SOLE	0	371	0	0
EMERSON ELEC CO COM	CS	291011104	284,009	2,918	SH		SOLE	0	2,918	0	0
ENEL CHILE SA SP ADR	CS	29278D105	3,397,788	1,048,700	SH		SOLE	0	1,048,700	0	0
ENERPLUS CORP	CS	292766102	2,621,606	170,900	SH		SOLE	0	170,900	0	0
EQUINOR ASA	CS	29446M102	52,275,924	1,652,210	SH		SOLE	0	1,307,143	0	0
EQUINOR ASA	CS	29446M102	4,003,222	126,524	SH		DFND	0	364	0	0
EXXON MOBIL	CS	30231G102	19,335,932	193,398	SH		SOLE	0	177,968	0	0
FEDEX CORP	CS	31428X106	19,271,508	76,181	SH		SOLE	0	75,800	0	0
FIFTH THIRD BANCORP	CS	316773100	34,781,923	1,008,464	SH		SOLE	0	913,154	0	0
FISERV INC COM	CS	337738108	29,402,009	221,334	SH		SOLE	0	203,443	0	0
FOX CORPORATION	CS	35137L105	19,370,327	652,859	SH		SOLE	0	650,800	0	0
FRONTLINE PLC	CS	M46528101	2,811,010	140,200	SH		SOLE	0	140,200	0	0
FUJITSU LIMITED ADR	CS	359590304	23,581,446	785,258	SH		SOLE	0	532,670	0	0
FUJITSU LIMITED ADR	CS	359590304	3,743,606	124,034	SH		DFND	0	357	0	0
GE HEALTHCARE TECHNOLOGIES INC	CS	36266G107	10,145,003	131,208	SH		SOLE	0	123,358	0	0
GENERAL MILLS	CS	370334104	786,500	12,074	SH		SOLE	0	4,474	0	0
GILDAN ACTIVEWEAR INC	CS	375916103	3,378,732	102,200	SH		SOLE	0	102,200	0	0
GILEAD SCIENCES INC	CS	375558103	973,983	12,023	SH		SOLE	0	12,023	0	0
GLENCORE PLC UNSPONSORD ADR	CS	37827X100	15,888,263	1,326,223	SH		SOLE	0	812,000	0	0
GLENCORE PLC UNSPONSORD ADR	CS	37827X100	2,859,264	237,540	SH		DFND	0	708	0	0
HCA HEALTHCARE INC	CS	40412C101	61,326,073	226,563	SH		SOLE	0	217,626	0	0
HDFC BANK LTD	CS	40415F101	16,088,615	239,735	SH		SOLE	0	145,920	0	0
HDFC BANK LTD	CS	40415F101	2,912,817	43,404	SH		DFND	0	129	0	0
HEIDELBERG MATERIALS AG	CS	42281P205	3,419,794	191,800	SH		SOLE	0	191,800	0	0
HITACHI LTD ADR	CS	433578507	24,361,122	168,508	SH		SOLE	0	108,900	0	0
HOME DEPOT	CS	437076102	52,911,254	152,680	SH		SOLE	0	144,190	0	0
HUNTINGTON BANCSHARES INC	CS	446150104	681,525	53,579	SH		SOLE	0	53,579	0	0
ICON PLC - AMERICAN DEPOSITARY	CS	G4705A100	11,886,392	41,991	SH		SOLE	0	25,900	0	0
ICON PLC - AMERICAN DEPOSITARY	CS	G4705A100	2,159,637	7,629	SH		DFND	0	22	0	0
ILLINOIS TOOL WKS INC COM	CS	452308109	873,308	3,334	SH		SOLE	0	634	0	0
ING GROUP N V	CS	456837103	32,920,311	2,191,765	SH		SOLE	0	1,438,270	0	0
ING GROUP N V	CS	456837103	5,357,609	356,698	SH		DFND	0	1,067	0	0
INTEL CORP	CS	458140100	223,663	4,451	SH		SOLE	0	4,105	0	0
INTESA SAN PAOLO SPON ADR	CS	46115H107	3,425,562	195,300	SH		SOLE	0	195,300	0	0
INTL. BUSINESS MACHS CO	CS	459200101	32,934,391	201,372	SH		SOLE	0	184,164	0	0
IQVIA HOLDINGS INC	CS	46266C105	1,205,027	5,208	SH		SOLE	0	401	0	0
ISHARES BARCLAYS TIPS BOND FUN	BF	464287176	221,429	2,060	SH		SOLE	0	2,060	0	0
ISHARES NATIONAL MUNI BOND ETF	BF	464288414	306,583	2,828	SH		SOLE	0	2,828	0	0
ISHARES MSCI ACWI EX US ETF	ETF	464288240	3,709,111	72,671	SH		DFND	0	72,671	0	0
ITAU UNIBANCO HOLDINGS SA	CS	465562106	28,122,939	4,046,466	SH		SOLE	0	2,413,240	0	0
ITAU UNIBANCO HOLDINGS SA	CS	465562106	5,432,435	781,645	SH		DFND	0	2,349	0	0
ITOCHU CORPORATION	CS	465717106	36,841,758	452,376	SH		SOLE	0	280,470	0	0
ITOCHU CORPORATION	CS	465717106	6,747,193	82,471	SH		DFND	0	235	0	0
J P MORGAN CHASE & CO	CS	46625H100	42,132,579	247,693	SH		SOLE	0	223,997	0	0
JABIL INC	CS	466313103	33,841,517	265,632	SH		SOLE	0	246,175	0	0
JACOBS SOLUTIONS INC	CS	46982L108	43,631,361	336,143	SH		SOLE	0	305,215	0	0
JAZZ PHARMACEUTICALS INC	CS	G50871105	18,038,934	146,658	SH		SOLE	0	91,641	0	0
JAZZ PHARMACEUTICALS INC	CS	G50871105	2,899,757	23,575	SH		DFND	0	75	0	0
JD.COM INC	CS	47215P106	14,291,970	494,703	SH		SOLE	0	305,300	0	0
JD.COM INC	CS	47215P106	2,320,644	80,327	SH		DFND	0	261	0	0
JOHNSON & JOHNSON COM	CS	478160104	515,361	3,288	SH		SOLE	0	2,488	0	0
JOHNSON CONTROLS INTERNATIONAL	CS	G51502105	249,005	4,320	SH		SOLE	0	4,320	0	0
JUNIPER NETWORKS	CS	48203R104	24,780,475	840,586	SH		SOLE	0	793,508	0	0
KB FINANCIAL GROUP INC	CS	48241A105	20,723,847	500,939	SH		SOLE	0	306,030	0	0
KB FINANCIAL GROUP INC	CS	48241A105	3,746,410	90,559	SH		DFND	0	271	0	0
KERING UNSPONSORED ADR	CS	492089107	434,039	9,811	SH		SOLE	0	9,811	0	0
KLA -Tencor	CS	482480100	74,168,648	127,591	SH		SOLE	0	121,407	0	0
KOMATSU LTD	CS	500458401	30,013,669	1,156,137	SH		SOLE	0	716,960	0	0
KOMATSU LTD	CS	500458401	5,493,772	210,007	SH		DFND	0	625	0	0
KONINKLIJKE	CS	500467501	26,494,135	923,139	SH		SOLE	0	606,370	0	0
KONINKLIJKE	CS	500467501	4,325,694	150,522	SH		DFND	0	449	0	0
KROGER CO	CS	501044101	20,806,415	455,183	SH		SOLE	0	452,900	0	0
KT CORPORATION	CS	48268K101	3,257,856	242,400	SH		SOLE	0	242,400	0	0
LAZARD LTD	CS	G54050102	3,521,760	101,200	SH		SOLE	0	101,200	0	0
LENOVO GROUP LIMITED ADS	CS	526250105	305,293	10,915	SH		SOLE	0	10,915	0	0
LINCOLN NATIONAL CORP	CS	534187109	999,265	37,051	SH		SOLE	0	37,051	0	0
LOGITECH INTERNATIONAL S.A.	CS	H50430232	3,992,520	42,000	SH		SOLE	0	42,000	0	0
LOWE'S CO.	CS	548661107	21,655,673	97,307	SH		SOLE	0	97,000	0	0
LVMH Moet Hennessy	CS	502441306	10,987,427	67,636	SH		SOLE	0	42,700	0	0
LVMH Moet Hennessy	CS	502441306	2,208,532	13,627	SH		DFND	0	40	0	0
LYONDELLBASELL INDUSTRIES	CS	N53745100	26,229,245	275,865	SH		SOLE	0	165,220	0	0
LYONDELLBASELL INDUSTRIES	CS	N53745100	4,655,663	48,966	SH		DFND	0	146	0	0
MANULIFE FINANACIAL CORP	CS	56501R106	845,413	38,254	SH		SOLE	0	38,254	0	0
MARATHON OIL CORP COM	CS	565849106	18,905,007	782,492	SH		SOLE	0	775,800	0	0
MARATHON PETROLEUM CORP	CS	56585A102	307,105	2,070	SH		SOLE	0	2,070	0	0
MARUBENI CORP ADR	CS	573810207	29,089,965	185,568	SH		SOLE	0	122,100	0	0
MARUBENI CORP ADR	CS	573810207	4,652,637	29,434	SH		DFND	0	88	0	0
MASCO CORP	CS	574599106	31,849,593	475,509	SH		SOLE	0	436,948	0	0
MCDONALDS CORP	CS	580135101	1,277,365	4,308	SH		SOLE	0	1,751	0	0
MCKESSON CORP COM	CS	58155Q103	21,871,175	47,240	SH		SOLE	0	47,094	0	0
MERCK & CO INC	CS	58933Y105	31,989,957	293,432	SH		SOLE	0	275,660	0	0
MICROSOFT CORP	CS	594918104	4,408,317	11,723	SH		SOLE	0	3,567	0	0
MITSUBISHI UFJ FINL GROUP ADR	CS	606822104	26,816,542	3,114,581	SH		SOLE	0	1,937,140	0	0
MITSUBISHI UFJ FINL GROUP ADR	CS	606822104	4,789,983	556,328	SH		DFND	0	1,637	0	0
MORGAN STANLEY COM NEW	CS	617446448	38,727,751	415,311	SH		SOLE	0	376,553	0	0
NASPERS LIMITED ADR	CS	631512209	22,658,023	670,740	SH		SOLE	0	413,390	0	0
NASPERS LIMITED ADR	CS	631512209	4,007,006	117,133	SH		DFND	0	342	0	0
NATIONAL GRID TRANSCO PLC ADR	CS	636274409	240,957	3,544	SH		SOLE	0	3,544	0	0
NATWEST GROUP PLC SP ADR	CS	639057207	16,669,681	2,960,867	SH		SOLE	0	2,028,471	0	0
NATWEST GROUP PLC SP ADR	CS	639057207	2,436,371	432,748	SH		DFND	0	1,335	0	0
NETAPP	CS	64110D104	23,476,303	266,292	SH		SOLE	0	265,450	0	0
NETEASE INC. ADR	CS	64110W102	22,894,070	245,750	SH		SOLE	0	150,300	0	0
NETEASE INC. ADR	CS	64110W102	4,180,098	44,870	SH		DFND	0	135	0	0
NIPPON TELEG & TEL CORP	CS	654624105	24,810,287	814,383	SH		SOLE	0	506,560	0	0
NIPPON TELEG & TEL CORP	CS	654624105	4,288,246	140,760	SH		DFND	0	411	0	0
NUTRIEN LTD	CS	67077M108	2,726,372	48,400	SH		SOLE	0	48,400	0	0
NVIDIA CORP	CS	67066G104	1,396,520	2,820	SH		SOLE	0	2,820	0	0
NVR INC	CS	62944T105	43,507,797	6,215	SH		SOLE	0	5,619	0	0
NXP SEMICONDUCTORS NV	CS	N6596X109	39,311,110	171,156	SH		SOLE	0	106,800	0	0
NXP SEMICONDUCTORS NV	CS	N6596X109	6,831,860	29,745	SH		DFND	0	87	0	0
O REILLY AUTOMOTIVE INC	CS	67103H107	21,129,779	22,240	SH		SOLE	0	22,170	0	0
OMEGA HEALTHCARE INVS	CS	681936100	898,614	29,309	SH		SOLE	0	29,309	0	0
ON SEMICONDUCTOR CORP	CS	682189105	40,794,548	488,382	SH		SOLE	0	436,965	0	0
ONEOK INC	CS	682680103	29,201,970	415,864	SH		SOLE	0	373,203	0	0
ORACLE CORP COM	CS	68389X105	32,661,159	309,790	SH		SOLE	0	290,159	0	0
ORANGE	CS	684060106	262,844	22,996	SH		SOLE	0	22,996	0	0
ORIX CORP ADR	CS	686330101	22,100,277	236,645	SH		SOLE	0	145,240	0	0
ORIX CORP ADR	CS	686330101	4,039,176	43,251	SH		DFND	0	124	0	0
PACCAR INC	CS	693718108	23,098,815	236,547	SH		SOLE	0	235,800	0	0
PANASONIC CORPORATION	CS	69832A205	153,868	15,637	SH		SOLE	0	15,637	0	0
PARKER HANNIFIN CORP	CS	701094104	47,901,743	103,976	SH		SOLE	0	93,942	0	0
PETROLEO BRASILERO	CS	71654V408	25,936,669	1,624,087	SH		SOLE	0	1,006,060	0	0
PETROLEO BRASILERO	CS	71654V408	4,694,408	293,952	SH		DFND	0	885	0	0
PFIZER INC	CS	717081103	222,374	7,724	SH		SOLE	0	7,724	0	0
PHILIP MORRIS INTL INC COM	CS	718172109	1,633,793	17,366	SH		SOLE	0	3,959	0	0
PHILLIPS 66	CS	718546104	42,270,619	317,490	SH		SOLE	0	287,693	0	0
PROCTER & GAMBLE	CS	742718109	606,089	4,136	SH		SOLE	0	2,754	0	0
PROGRESSIVE CORP OHIO	CS	743315103	18,147,885	113,937	SH		SOLE	0	99,614	0	0
PULTEGROUP INC.	CS	745867101	2,419,270	23,438	SH		SOLE	0	2,229	0	0
QUALCOMM INC	CS	747525103	67,277,971	465,173	SH		SOLE	0	447,044	0	0
QUANTA SERVICES INC	CS	74762E102	257,665	1,194	SH		SOLE	0	1,194	0	0
RANDSTAD NV ADR UNSPON	CS	75279Q108	3,522,182	112,100	SH		SOLE	0	112,100	0	0
REPSOL S.A.	CS	76026T205	33,833,729	2,278,364	SH		SOLE	0	1,442,740	0	0
RIO TINTO PLC ADR	CS	767204100	67,241,029	903,049	SH		SOLE	0	699,954	0	0
ROSS STORES INC COM	CS	778296103	490,454	3,544	SH		SOLE	0	3,544	0	0
RTX CORPORATION COM	CS	75513E101	318,470	3,785	SH		SOLE	0	2,942	0	0
S&P DEPOSITORY RECEIPTS (SPDR)	CS	78462F103	9,741,478	20,495	SH		SOLE	0	20,495	0	0
SANOFI AVENTIS	CS	80105N105	15,995,555	321,648	SH		SOLE	0	199,160	0	0
SANOFI AVENTIS	CS	80105N105	3,063,031	61,593	SH		DFND	0	177	0	0
SCHLUMBERGER LTD	CS	806857108	74,821,238	1,437,764	SH		SOLE	0	1,188,757	0	0
SCHLUMBERGER LTD	CS	806857108	4,641,005	89,182	SH		DFND	0	267	0	0
SEMPRA ENERGY	CS	816851109	10,806,556	144,608	SH		SOLE	0	135,405	0	0
SENSATA TECHNOLOGIES HOLDING P	CS	G8060N102	245,896	6,545	SH		SOLE	0	6,545	0	0
SHELL PLC	CS	780259305	84,328,951	1,281,595	SH		SOLE	0	977,089	0	0
SHELL PLC	CS	780259305	7,823,874	118,904	SH		DFND	0	366	0	0
SHIONOGI & CO LTD UNSP	CS	824667109	12,472,190	1,041,769	SH		SOLE	0	647,460	0	0
SHIONOGI & CO LTD UNSP	CS	824667109	2,240,262	185,837	SH		DFND	0	562	0	0
SOCIEDAD QUIMICA Y MINERA DE S	CS	833635105	19,593,179	325,360	SH		SOLE	0	259,045	0	0
SOCIEDAD QUIMICA Y MINERA DE S	CS	833635105	1,381,964	22,949	SH		DFND	0	80	0	0
SONY GROUP CORPORATION	CS	835699307	17,005,567	179,592	SH		SOLE	0	111,400	0	0
REPSOL S.A.	CS	76026T205	5,323,141	358,268	SH		DFND	0	1,048	0	0
RIO TINTO PLC ADR	CS	767204100	5,249,974	70,507	SH		DFND	0	208	0	0
BNP PARIBAS PA ADR	CS	05565A202	5,177,806	149,777	SH		DFND	0	432	0	0
AXA- SPONS ADR	CS	054536107	5,112,885	156,953	SH		DFND	0	458	0	0
ASTRAZENECA PLC-SPONS ADR	CS	046353108	5,020,594	74,545	SH		DFND	0	225	0	0
HITACHI LTD ADR	CS	433578507	4,873,628	33,780	SH		DFND	0	98	0	0
AMDOCS LTD	CS	G02602103	4,861,634	55,315	SH		DFND	0	161	0	0
BANCO SANTANDER SA ADS	CS	05964H105	4,838,990	1,168,838	SH		DFND	0	3,379	0	0
SONY GROUP CORPORATION	CS	835699307	3,348,336	35,361	SH		DFND	0	101	0	0
SPDR TR UNIT SER 1	cs	78462F103	539,477	1,135	SH		SOLE	0	1,135	0	0
STANDARD BANK GROUP LTD	CS	853118206	21,744,173	1,912,414	SH		SOLE	0	1,186,340	0	0
STANDARD BANK GROUP LTD	CS	853118206	3,978,247	349,613	SH		DFND	0	1,007	0	0
STELLANTIS NV	CS	N82405106	3,546,972	152,100	SH		SOLE	0	152,100	0	0
SUN LIFE FINANCIAL	CS	866796105	19,299,025	372,137	SH		SOLE	0	218,010	0	0
SUN LIFE FINANCIAL	CS	866796105	3,506,718	67,619	SH		DFND	0	192	0	0
SUNCOR ENERGY	CS	867224107	2,803,500	87,500	SH		SOLE	0	87,500	0	0
SYNCHRONY FINANCIAL	CS	87165B103	25,407,807	665,300	SH		SOLE	0	661,970	0	0
TAIWAN SEMICONDUCTOR MFG CO AD	CS	874039100	13,978,016	134,404	SH		SOLE	0	82,990	0	0
TAIWAN SEMICONDUCTOR MFG CO AD	CS	874039100	2,762,591	26,563	SH		DFND	0	75	0	0
TAPESTRY	CS	876030107	17,534,481	476,351	SH		SOLE	0	439,072	0	0
TE CONNECTIVITY LTD.	CS	H84989104	1,567,980	11,160	SH		SOLE	0	3,349	0	0
TEXAS ROADHOUSE	CS	882681109	4,626,650	37,852	SH		SOLE	0	37,852	0	0
TEXTRON INC	CS	883203101	18,751,933	233,175	SH		SOLE	0	219,182	0	0
THALES UNSPONSORD ADR	CS	883219206	17,942,760	607,486	SH		SOLE	0	377,300	0	0
THALES UNSPONSORD ADR	CS	883219206	3,318,730	112,142	SH		DFND	0	329	0	0
TOKYO ELECTRON LTD	CS	889110102	32,245,229	362,954	SH		SOLE	0	225,515	0	0
TOKYO ELECTRON LTD	CS	889110102	6,223,133	69,479	SH		DFND	0	199	0	0
TOTALENERGIES, SE	CS	89151E109	69,675,165	1,034,063	SH		SOLE	0	790,081	0	0
TOTALENERGIES, SE	CS	89151E109	5,354,608	79,469	SH		DFND	0	232	0	0
TRACTOR SUPPLY	CS	892356106	21,570,949	100,316	SH		SOLE	0	100,000	0	0
UBS GROUP AG	CS	H42097107	34,403,936	1,113,396	SH		SOLE	0	680,950	0	0
UBS GROUP AG	CS	H42097107	6,908,041	223,561	SH		DFND	0	655	0	0
ULTA SALON COSMETICS & FRAGR	CS	90384S303	24,720,975	50,452	SH		SOLE	0	50,200	0	0
UNILEVER	CS	904767704	2,003,145	41,319	SH		SOLE	0	41,319	0	0
UNION PAC CORP COM	CS	907818108	17,042,344	69,385	SH		SOLE	0	61,192	0	0
UNITED AIRLINES HOLDINGS, INC	CS	910047109	19,631,756	475,806	SH		SOLE	0	474,300	0	0
UNITED HEALTHCARE CORP	CS	91324P102	37,172,467	70,607	SH		SOLE	0	63,830	0	0
UNITED RENTALS INC	CS	911363109	88,144,975	153,718	SH		SOLE	0	141,710	0	0
UNIVERSAL HEALTH SERVICES INC	CS	913903100	24,330,186	159,605	SH		SOLE	0	159,100	0	0
VALE SA	CS	91912E105	55,572,743	3,503,956	SH		SOLE	0	2,818,676	0	0
VALE SA	CS	91912E105	4,220,669	266,120	SH		DFND	0	779	0	0
VANGUARD BD INDEX FD INC	BF	921937827	399,888	5,192	SH		SOLE	0	5,192	0	0
VANGUARD S&P 500 ETF	CS	922908363	1,976,957	4,526	SH		SOLE	0	4,526	0	0
VEOLIA ENVIRONMENT	CS	92334N103	13,943,623	883,515	SH		SOLE	0	543,540	0	0
VEOLIA ENVIRONMENT	CS	92334N103	2,637,014	167,164	SH		DFND	0	481	0	0
VERIZON COMMUNICATIONS	CS	92343V104	11,387,511	302,056	SH		SOLE	0	277,622	0	0
VIPSHOP HOLDINGS LTD ADS	CS	92763W103	30,898,972	1,739,807	SH		SOLE	0	1,149,690	0	0
VIPSHOP HOLDINGS LTD ADS	CS	92763W103	5,409,723	304,602	SH		DFND	0	894	0	0
WALGREENS BOOT ALLIANCE, INC	CS	931427108	591,783	22,665	SH		SOLE	0	22,665	0	0
WPP PLC ADR	CS	92937A102	213,780	4,494	SH		SOLE	0	4,494	0	0
YPF S.A.	CS	984245100	3,962,295	230,500	SH		SOLE	0	230,500	0	0
ZTO EXPRESS INC	CS	98980A105	16,137,730	758,352	SH		SOLE	0	466,970	0	0
ZTO EXPRESS INC	CS	98980A105	2,792,635	131,233	SH		DFND	0	404	0	0