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
3I GROUP PLC UNSPONSORD ADR	CS	88579N105	3,868,788	188,270	SH		SOLE		1,090	0	187,180
3M CO	CS	88579Y101	998,396	9,770	SH		SOLE		8,970	0	800
ABBVIE	CS	00287Y109	38,929,551	226,968	SH		SOLE		30,259	0	196,709
AEGON LTD AMER REG 1 CERT	CS	0076CA104	3,422,992	558,400	SH		SOLE		0	0	558,400
AERCAP HOLDINGS NV	CS	N00985106	42,209,535	452,892	SH		SOLE		152,132	0	300,760
AERCAP HOLDINGS NV	CS	N00985106	6,487,611	69,610	SH		DFND		69,390	0	220
AKAMAI TECHNOLGIES	CS	00971T101	17,668,472	196,142	SH		SOLE		14,817	0	181,325
ALIBABA GROUP HOLDING	CS	01609W102	15,644,016	217,278	SH		SOLE		74,588	0	142,690
ALIBABA GROUP HOLDING	CS	01609W102	2,505,300	34,800	SH		DFND		34,690	0	110
ALKERMES INC	CS	G01767105	3,870,171	160,588	SH		SOLE		22,288	0	138,300
ALLIANZ SE	CS	018820100	979,431	35,333	SH		SOLE		35,333	0	0
ALPHABET INC	CS	02079K305	27,427,964	150,579	SH		SOLE		19,407	0	131,172
ALTRIA GROUP INC COM	CS	02209S103	31,774,814	697,581	SH		SOLE		78,368	0	619,213
AMDOCS LTD	CS	G02602103	29,182,643	369,775	SH		SOLE		125,825	0	243,950
AMDOCS LTD	CS	G02602103	4,516,450	57,227	SH		DFND		57,043	0	184
AMERICA MOVIL SAB DE CV SPON A	CS	02390A101	11,991,834	705,402	SH		SOLE		233,502	0	471,900
AMERICA MOVIL SAB DE CV SPON A	CS	02390A101	1,892,525	111,330	SH		DFND		110,970	0	360
AMERICAN EXPRESS CO	CS	025816109	43,209,314	186,609	SH		SOLE		18,670	0	167,939
AMERICAN INTL GROUP INC	CS	026874784	20,562,698	276,976	SH		SOLE		1,006	0	275,970
AMERIPRISE FINANCIAL INC	CS	03076C106	42,646,805	99,831	SH		SOLE		10,897	0	88,934
AMGEN INC	CS	031162100	39,168,419	125,359	SH		SOLE		12,794	0	112,565
AON CORP.	CS	G0403H108	266,277	907	SH		SOLE		0	0	907
AON CORP.	CS	G0403H108	4,681	20	SH		DFND		20	0	0
APA CORPORATION	CS	03743Q108	18,325,752	622,478	SH		SOLE		2,258	0	620,220
APOLLO GLOBAL MANAGEMENT LLC	CS	03769M106	41,891,945	354,806	SH		SOLE		21,958	0	332,848
APPLE COMPUTER INC	CS	037833100	3,636,565	17,266	SH		SOLE		11,707	0	5,559
ARCELORMITTAL SA LUXEMBOU	CS	03938L203	3,023,321	131,850	SH		SOLE		0	0	131,850
ASHLAND GLOBAL HOLDINGS INC	CS	044186104	205,421	2,174	SH		SOLE		2,174	0	0
ASHTEAD GROUP PLC UNSP	CS	045055100	27,560,555	102,965	SH		SOLE		35,305	0	67,660
ASHTEAD GROUP PLC UNSP	CS	045055100	4,146,262	15,490	SH		DFND		15,440	0	50
ASTRAZENECA PLC-SPONS ADR	CS	046353108	37,173,231	476,641	SH		SOLE		158,651	0	317,990
ASTRAZENECA PLC-SPONS ADR	CS	046353108	5,710,468	73,220	SH		DFND		72,990	0	230
AUTOZONE INC	CS	053332102	60,778,871	20,505	SH		SOLE		1,587	0	18,918
AXA- SPONS ADR	CS	054536107	32,435,765	988,295	SH		SOLE		333,405	0	654,890
AXA- SPONS ADR	CS	054536107	4,800,996	146,530	SH		DFND		146,070	0	460
B A S F A G	CS	055262505	15,994,015	1,324,004	SH		SOLE		486,094	0	837,910
B A S F A G	CS	055262505	2,352,261	194,290	SH		DFND		193,670	0	620
BAE SYSTEMS PLC ADR	CS	05523R107	28,294,870	423,260	SH		SOLE		152,760	0	270,500
BAE SYSTEMS PLC ADR	CS	05523R107	4,211,107	63,090	SH		DFND		62,900	0	190
BAIDU INC	CS	056752108	12,896,070	149,122	SH		SOLE		50,612	0	98,510
BAIDU INC	CS	056752108	1,986,446	22,970	SH		DFND		22,890	0	80
BANCO BILBAO VIZCAYA ARG ADR	CS	05946K101	3,139,089	312,970	SH		SOLE		0	0	312,970
BANCO SANTANDER SA ADS	CS	05964H105	35,683,164	7,706,947	SH		SOLE		2,640,187	0	5,066,760
BANCO SANTANDER SA ADS	CS	05964H105	5,519,942	1,192,210	SH		DFND		1,188,580	0	3,630
BANK NOVA SCOTIA HALIFAX	CS	064149107	858,393	18,775	SH		SOLE		18,775	0	0
BANK OF AMERICA CORPORATION	CS	060505104	36,707,193	922,987	SH		SOLE		89,150	0	833,837
BARCLAYS ADR	CS	06738E204	32,428,563	3,027,877	SH		SOLE		1,037,277	0	1,990,600
BARCLAYS ADR	CS	06738E204	4,940,116	461,260	SH		DFND		459,830	0	1,430
BEST BUY INC COM	CS	086516101	23,167,022	274,849	SH		SOLE		13,319	0	261,530
BLACKROCK INC	CS	09247X101	415,705	528	SH		SOLE		318	0	210
BNP PARIBAS PA ADR	CS	05565A202	39,382,543	1,225,355	SH		SOLE		386,285	0	839,070
BNP PARIBAS PA ADR	CS	05565A202	5,534,243	173,480	SH		DFND		172,950	0	530
BOOKING HOLDINGS INC	CS	09857L108	23,705,616	5,984	SH		SOLE		34	0	5,950
BORG WARNER AUTOMOTIVE INC	CS	099724106	24,090,308	747,218	SH		SOLE		59,472	0	687,746
BP PLC	CS	055622104	16,512,862	457,420	SH		SOLE		126,240	0	331,180
BP PLC	CS	055622104	2,058,016	57,010	SH		DFND		56,830	0	180
BRITISH AMERN TOB PLC ADR	CS	110448107	6,645,929	214,870	SH		SOLE		46,950	0	167,920
BRITISH AMERN TOB PLC ADR	CS	110448107	1,314,365	42,495	SH		DFND		42,355	0	140
BROADCOM LTD	CS	11135F101	81,674,917	50,871	SH		SOLE		6,267	0	44,604
CANADIAN NATL RY CO	CS	136375102	15,462,508	130,894	SH		SOLE		44,614	0	86,280
CANADIAN NATL RY CO	CS	136375102	2,574,809	21,800	SH		DFND		21,730	0	70
CAPGEMINI SE	CS	13961R100	34,214,474	859,660	SH		SOLE		286,130	0	573,530
CAPGEMINI SE	CS	13961R100	5,184,257	130,260	SH		DFND		129,860	0	400
CAPITAL ONE FINANCIAL CORP	CS	14040H105	20,197,640	145,884	SH		SOLE		524	0	145,360
CARRIER GLOBAL CORPORATION	CS	14448C104	238,758	3,785	SH		SOLE		843	0	2,942
CDW CORP/DE	CS	12514G108	30,369,939	135,677	SH		SOLE		8,582	0	127,095
CHEVRON CORP NEW COM	CS	166764100	2,368,042	15,139	SH		SOLE		13,749	0	1,390
CHUBB CP	CS	H1467J104	58,914,042	230,963	SH		SOLE		45,746	0	185,217
CHUBB CP	CS	H1467J104	4,333,587	16,990	SH		DFND		16,940	0	50
CHUGAI PHARMA UNSUP ADR	CS	171269103	4,106,398	231,086	SH		SOLE		31,166	0	199,920
CISCO SYS INC COM	CS	17275R102	314,801	6,626	SH		SOLE		336	0	6,290
CITIZENS FINANCIAL GROUP INC	CS	174610105	30,108,686	835,656	SH		SOLE		112,768	0	722,888
COGNIZANT TECH	CS	192446102	8,752,212	128,709	SH		SOLE		12,038	0	116,671
COMPAGNIE DE SAINT GOB	CS	204280309	37,017,776	2,392,854	SH		SOLE		838,574	0	1,554,280
COMPAGNIE DE SAINT GOB	CS	204280309	5,841,439	375,270	SH		DFND		374,140	0	1,130
CONOCOPHILLIPS	CS	20825C104	31,228,713	273,026	SH		SOLE		25,980	0	247,046
CORPAY INC	CS	219948106	18,823,199	70,655	SH		SOLE		255	0	70,400
CRH PLC	CS	G25508105	40,417,069	539,038	SH		SOLE		183,628	0	355,410
CRH PLC	CS	G25508105	6,184,371	82,480	SH		DFND		82,230	0	250
CUMMINS INC.	CS	231021106	38,427,638	138,763	SH		SOLE		10,677	0	128,086
D R HORTON INC	CS	23331A109	18,477,614	131,112	SH		SOLE		472	0	130,640
DAIWA HOUSE INDUSTRY	CS	234062206	19,718,395	774,794	SH		SOLE		263,544	0	511,250
DAIWA HOUSE INDUSTRY	CS	234062206	3,035,015	119,750	SH		DFND		119,370	0	380
DANSKE BANK ADR	CS	236363206	3,374,836	224,540	SH		SOLE		0	0	224,540
DAVITA INC	CS	23918K108	225,731	1,629	SH		SOLE		0	0	1,629
DBS GROUP HOLDINGS LTD	CS	23304Y100	29,655,093	281,998	SH		SOLE		96,670	0	185,328
DBS GROUP HOLDINGS LTD	CS	23304Y100	4,554,787	43,118	SH		DFND		42,984	0	134
DELL TECHNOLOGIES, INC	CS	24703L202	48,726,913	353,324	SH		SOLE		30,523	0	322,801
DICK'S SPORTING GOODS	CS	253393102	40,797,007	189,886	SH		SOLE		11,653	0	178,233
DIGITAL REALTY TRUST INC	CS	253868103	8,017,596	52,730	SH		SOLE		3,694	0	49,036
DOW INC.	CS	260557103	281,006	5,297	SH		SOLE		5,297	0	0
EASTMAN CHEMICAL CO	CS	277432100	34,328,982	350,403	SH		SOLE		28,514	0	321,889
EATON VANCE MUNICIPAL BD	CS	27827X101	241,531	22,829	SH		SOLE		22,829	0	0
ELEVANCE HEALTH INC	CS	036752103	37,869,512	69,888	SH		SOLE		6,356	0	63,532
ELI LILLY & CO	CS	532457108	203,711	225	SH		SOLE		0	0	225
EMERSON ELEC CO COM	CS	291011104	321,447	2,918	SH		SOLE		0	0	2,918
ENI S P A	CS	26874R108	3,140,580	102,000	SH		SOLE		0	0	102,000
EQUINOR ASA	CS	29446M102	36,339,030	1,272,375	SH		SOLE		248,810	0	1,023,565
EQUINOR ASA	CS	29446M102	2,240,195	78,438	SH		DFND		78,194	0	244
EXPEDIA INC	CS	30212P303	20,214,340	160,444	SH		SOLE		574	0	159,870
EXXON MOBIL	CS	30231G102	2,197,526	19,089	SH		SOLE		14,721	0	4,368
FIFTH THIRD BANCORP	CS	316773100	39,375,702	1,079,082	SH		SOLE		101,658	0	977,424
FIRST SOLAR INC.	CS	336433107	22,870,437	101,439	SH		SOLE		6,584	0	94,855
FISERV INC COM	CS	337738108	39,191,558	262,960	SH		SOLE		20,625	0	242,335
FLEX LTD	CS	Y2573F102	4,499,053	152,562	SH		SOLE		34,442	0	118,120
FOX CORPORATION	CS	35137L105	23,857,661	694,142	SH		SOLE		2,502	0	691,640
FRONTLINE PLC	CS	M46528101	3,562,866	138,310	SH		SOLE		0	0	138,310
FUJITSU LIMITED ADR	CS	359590304	31,332,485	1,995,708	SH		SOLE		611,608	0	1,384,100
FUJITSU LIMITED ADR	CS	359590304	4,320,055	276,090	SH		DFND		275,250	0	840
GE HEALTHCARE TECHNOLOGIES INC	CS	36266G107	24,627,084	316,056	SH		SOLE		19,252	0	296,804
GENERAL MILLS	CS	370334104	763,801	12,074	SH		SOLE		7,600	0	4,474
GENERAL MTRS CO COM	CS	37045V100	22,112,591	475,949	SH		SOLE		2,779	0	473,170
GILDAN ACTIVEWEAR INC	CS	375916103	3,531,110	93,120	SH		SOLE		0	0	93,120
GILEAD SCIENCES INC	CS	375558103	858,037	12,506	SH		SOLE		12,506	0	0
GLENCORE PLC UNSPONSORD ADR	CS	37827X100	26,745,637	2,358,503	SH		SOLE		807,803	0	1,550,700
GLENCORE PLC UNSPONSORD ADR	CS	37827X100	4,100,273	359,520	SH		DFND		358,410	0	1,110
HCA HEALTHCARE INC	CS	40412C101	43,493,923	135,377	SH		SOLE		9,815	0	125,562
HDFC BANK LTD	CS	40415F101	17,386,855	270,276	SH		SOLE		93,856	0	176,420
HDFC BANK LTD	CS	40415F101	2,921,155	45,410	SH		DFND		45,270	0	140
HEIDELBERG MATERIALS AG	CS	42281P205	3,331,838	161,270	SH		SOLE		0	0	161,270
HITACHI LTD ADR	CS	433578507	22,787,765	101,198	SH		SOLE		31,498	0	69,700
HITACHI LTD ADR	CS	433578507	3,773,901	16,759	SH		DFND		16,708	0	51
HOME DEPOT	CS	437076102	42,248,919	122,731	SH		SOLE		7,429	0	115,302
HUNTINGTON BANCSHARES INC	CS	446150104	693,360	52,607	SH		SOLE		52,607	0	0
ICON PLC - AMERICAN DEPOSITARY	CS	G4705A100	14,859,105	47,402	SH		SOLE		16,102	0	31,300
ICON PLC - AMERICAN DEPOSITARY	CS	G4705A100	2,208,182	7,040	SH		DFND		7,020	0	20
ILLINOIS TOOL WKS INC COM	CS	452308109	790,025	3,334	SH		SOLE		2,700	0	634
INCYTE CORP	CS	45337C102	23,082,277	380,770	SH		SOLE		1,380	0	379,390
ING GROUP N V	CS	456837103	41,642,556	2,429,554	SH		SOLE		753,944	0	1,675,610
ING GROUP N V	CS	456837103	5,802,050	338,510	SH		DFND		337,430	0	1,080
INTESA SAN PAOLO SPON ADR	CS	46115H107	3,548,862	158,290	SH		SOLE		0	0	158,290
INTL. BUSINESS MACHS CO	CS	459200101	36,194,111	209,275	SH		SOLE		17,869	0	191,406
IQVIA HOLDINGS INC	CS	46266C105	1,101,180	5,208	SH		SOLE		4,807	0	401
ISHARES BARCLAYS TIPS BOND FUN	BF	464287176	219,967	2,060	SH		SOLE		2,060	0	0
ISHARES MSCI ACWI EX US ETF	CS	464288240	2,396,788	45,110	SH		DFND		45,110	0	0
ISHARES NATIONAL MUNI BOND ETF	BF	464288414	301,323	2,828	SH		SOLE		0	0	2,828
ITAU UNIBANCO HOLDINGS SA	CS	465562106	26,583,196	4,551,917	SH		SOLE		1,634,177	0	2,917,740
ITAU UNIBANCO HOLDINGS SA	CS	465562106	4,499,646	770,490	SH		DFND		768,030	0	2,460
ITOCHU CORPORATION	CS	465717106	45,823,665	465,929	SH		SOLE		158,859	0	307,070
ITOCHU CORPORATION	CS	465717106	6,859,328	70,245	SH		DFND		70,030	0	215
J P MORGAN CHASE & CO	CS	46625H100	50,245,632	248,421	SH		SOLE		24,084	0	224,337
JABIL INC	CS	466313103	44,018,610	404,620	SH		SOLE		19,093	0	385,527
JACOBS SOLUTIONS INC	CS	46982L108	43,227,951	309,412	SH		SOLE		29,796	0	279,616
JAZZ PHARMACEUTICALS INC	CS	G50871105	14,223,267	133,264	SH		SOLE		45,323	0	87,941
JAZZ PHARMACEUTICALS INC	CS	G50871105	2,111,855	19,790	SH		DFND		19,730	0	60
JD.COM INC	CS	47215P106	14,441,020	558,863	SH		SOLE		189,763	0	369,100
JD.COM INC	CS	47215P106	2,345,704	90,780	SH		DFND		90,500	0	280
JOHNSON & JOHNSON COM	CS	478160104	480,574	3,288	SH		SOLE		800	0	2,488
JOHNSON CONTROLS INTERNATIONAL	CS	G51502105	451,797	6,797	SH		SOLE		6,797	0	0
KB FINANCIAL GROUP INC	CS	48241A105	31,985,160	565,009	SH		SOLE		194,979	0	370,030
KB FINANCIAL GROUP INC	CS	48241A105	5,030,818	88,870	SH		DFND		88,600	0	270
KLA -Tencor	CS	482480100	46,141,228	55,962	SH		SOLE		4,444	0	51,518
KOMATSU LTD	CS	500458401	38,195,284	1,306,281	SH		SOLE		439,421	0	866,860
KOMATSU LTD	CS	500458401	5,720,273	196,990	SH		DFND		196,370	0	620
KONINKLIJKE	CS	500467501	30,845,980	1,042,447	SH		SOLE		316,917	0	725,530
KONINKLIJKE	CS	500467501	4,103,298	138,765	SH		DFND		138,332	0	433
KONINKLIJKE PHILIPS ELECT	CS	500472303	518,263	20,566	SH		SOLE		20,566	0	0
KROGER CO	CS	501044101	18,939,647	379,324	SH		SOLE		2,194	0	377,130
KT CORPORATION	CS	48268K101	3,661,646	267,860	SH		SOLE		0	0	267,860
LENOVO GROUP LIMITED ADS	CS	526250105	290,036	10,245	SH		SOLE		10,245	0	0
LINCOLN NATIONAL CORP	CS	534187109	1,195,297	38,434	SH		SOLE		38,434	0	0
LOGITECH INTERNATIONAL S.A.	CS	H50430232	3,988,550	41,170	SH		SOLE		0	0	41,170
LOWE'S CO.	CS	548661107	18,938,911	86,139	SH		SOLE		719	0	85,420
LYONDELLBASELL INDUSTRIES	CS	N53745100	29,638,816	309,835	SH		SOLE		110,115	0	199,720
LYONDELLBASELL INDUSTRIES	CS	N53745100	4,272,088	44,660	SH		DFND		44,520	0	140
MANULIFE FINL CORP COM	CS	56501R106	998,037	37,492	SH		SOLE		37,492	0	0
MARATHON OIL CORP COM	CS	565849106	22,000,727	767,378	SH		SOLE		7,258	0	760,120
MARATHON PETROLEUM CORP	CS	56585A102	352,164	2,030	SH		SOLE		2,030	0	0
MARUBENI CORP ADR	CS	573810207	34,954,884	187,488	SH		SOLE		63,488	0	124,000
MARUBENI CORP ADR	CS	573810207	5,146,650	27,823	SH		DFND		27,736	0	87
MASCO CORP	CS	574599106	47,512,242	712,648	SH		SOLE		37,902	0	674,746
MCDONALDS CORP	CS	580135101	1,097,851	4,308	SH		SOLE		2,557	0	1,751
MCKESSON CORP COM	CS	58155Q103	24,190,353	41,419	SH		SOLE		147	0	41,272
MERCK & CO INC	CS	58933Y105	37,708,861	304,595	SH		SOLE		23,112	0	281,483
MICROSOFT CORP	CS	594918104	5,162,719	11,551	SH		SOLE		8,156	0	3,395
MITSUBISHI UFJ FINL GROUP ADR	CS	606822104	38,020,050	3,520,375	SH		SOLE		1,178,235	0	2,342,140
MITSUBISHI UFJ FINL GROUP ADR	CS	606822104	5,887,943	545,180	SH		DFND		543,500	0	1,680
MORGAN STANLEY COM NEW	CS	617446448	42,160,828	433,798	SH		SOLE		41,374	0	392,424
NASPERS LIMITED ADR	CS	631512209	20,240,414	519,649	SH		SOLE		176,859	0	342,790
NASPERS LIMITED ADR	CS	631512209	3,073,218	78,660	SH		DFND		78,420	0	240
NATIONAL GRID TRANSCO PLC ADR	CS	636274409	586,687	10,329	SH		SOLE		10,329	0	0
NATWEST GROUP PLC SP ADR	CS	639057207	29,966,370	3,731,802	SH		SOLE		1,108,231	0	2,623,571
NATWEST GROUP PLC SP ADR	CS	639057207	3,892,297	484,720	SH		DFND		483,260	0	1,460
NETAPP	CS	64110D104	26,415,721	205,091	SH		SOLE		741	0	204,350
NETAPP	CS	64110D104	4,162,751	43,552	SH		DFND		43,417	0	135
NETEASE INC. ADR	CS	64110W102	26,494,393	277,196	SH		SOLE		95,496	0	181,700
NOVARTIS A G SPONSORED ADR	CS	66987V109	36,634,909	344,119	SH		SOLE		114,319	0	229,800
NOVARTIS A G SPONSORED ADR	CS	66987V109	5,599,037	52,592	SH		DFND		52,430	0	162
NRG ENERGY INC	CS	629377508	24,797,242	318,485	SH		SOLE		1,865	0	316,620
NVIDIA CORP	CS	67066G104	3,483,828	28,200	SH		SOLE		0	0	28,200
NVR INC	CS	62944T105	36,986,641	4,874	SH		SOLE		523	0	4,351
NXP SEMICONDUCTORS NV	CS	N6596X109	71,595,700	266,066	SH		SOLE		70,201	0	195,865
NXP SEMICONDUCTORS NV	CS	N6596X109	7,649,441	28,430	SH		DFND		28,340	0	90
OMEGA HEALTHCARE INVS	CS	681936100	984,311	28,739	SH		SOLE		28,739	0	0
ON SEMICONDUCTOR CORP	CS	682189105	27,005,615	393,955	SH		SOLE		47,773	0	346,182
ONEOK INC	CS	682680103	42,648,530	522,974	SH		SOLE		49,704	0	473,270
ORACLE CORP COM	CS	68389X105	40,175,636	284,530	SH		SOLE		18,522	0	266,008
ORANGE	CS	684060106	667,312	66,798	SH		SOLE		66,798	0	0
ORIX CORP ADR	CS	686330101	33,455,110	300,585	SH		SOLE		102,945	0	197,640
ORIX CORP ADR	CS	686330101	5,086,794	45,700	SH		DFND		45,560	0	140
PACCAR INC	CS	693718108	17,963,751	174,507	SH		SOLE		1,017	0	173,490
PANASONIC HOLDINGS CORP UNSPON	CS	69832A304	126,034	15,370	SH		SOLE		15,370	0	0
PARKER HANNIFIN CORP	CS	701094104	59,677,993	117,985	SH		SOLE		8,804	0	109,181
PDD HOLDINGS INC SP ADS	CS	722304102	21,244,878	159,796	SH		SOLE		44,496	0	115,300
PDD HOLDINGS INC SP ADS	CS	722304102	2,622,337	19,720	SH		DFND		19,660	0	60
PETROLEO BRASILERO	CS	71654V408	29,692,734	2,049,188	SH		SOLE		618,388	0	1,430,800
PETROLEO BRASILERO	CS	71654V408	4,109,387	283,601	SH		DFND		282,717	0	884
PFIZER INC	CS	717081103	773,731	27,653	SH		SOLE		27,653	0	0
PHILIP MORRIS INTL INC COM	CS	718172109	1,787,360	17,639	SH		SOLE		13,680	0	3,959
PHILLIPS 66	CS	718546104	41,286,295	292,458	SH		SOLE		28,728	0	263,730
PROCTER & GAMBLE	CS	742718109	650,774	3,946	SH		SOLE		1,192	0	2,754
PROGRESSIVE CORP OHIO	CS	743315103	30,778,468	148,180	SH		SOLE		16,527	0	131,653
PRYSMIAN SPA UNSPONSORD ADR	CS	74440L106	24,373,195	788,264	SH		SOLE		269,264	0	519,000
PRYSMIAN SPA UNSPONSORD ADR	CS	74440L106	3,659,937	118,120	SH		DFND		117,760	0	360
PULTEGROUP INC.	CS	745867101	2,580,524	23,438	SH		SOLE		21,209	0	2,229
QUALCOMM INC	CS	747525103	72,613,260	364,561	SH		SOLE		15,633	0	348,928
QUANTA SERVICES INC	CS	74762E102	303,383	1,194	SH		SOLE		0	0	1,194
RALPH LAUREN CORPORATION	CS	751212101	20,584,605	117,586	SH		SOLE		676	0	116,910
RANDSTAD NV ADR UNSPON	CS	75279Q108	2,915,492	128,890	SH		SOLE		0	0	128,890
REPSOL S.A.	CS	76026T205	36,778,847	2,339,608	SH		SOLE		763,618	0	1,575,990
REPSOL S.A.	CS	76026T205	4,971,010	314,780	SH		DFND		313,790	0	990
RIO TINTO PLC ADR	CS	767204100	65,881,805	999,269	SH		SOLE		207,120	0	792,149
RIO TINTO PLC ADR	CS	767204100	4,319,760	65,520	SH		DFND		65,320	0	200
ROSS STORES INC COM	CS	778296103	515,014	3,544	SH		SOLE		0	0	3,544
ROYAL CARIBBEAN CRUISES	CS	V7780T103	24,790,727	155,496	SH		SOLE		906	0	154,590
RTX CORPORATION COM	CS	75513E101	379,976	3,785	SH		SOLE		843	0	2,942
SANOFI AVENTIS	CS	80105N105	27,766,103	572,261	SH		SOLE		190,301	0	381,960
SANOFI AVENTIS	CS	80105N105	4,275,408	88,116	SH		DFND		87,843	0	273
SCHLUMBERGER LTD	CS	806857108	35,381,697	749,930	SH		SOLE		179,913	0	570,017
SCHLUMBERGER LTD	CS	806857108	3,277,193	69,460	SH		DFND		69,240	0	220
SEMPRA ENERGY	CS	816851109	10,098,639	132,772	SH		SOLE		8,704	0	124,068
SENSATA TECHNOLOGIES HOLDING P	CS	G8060N102	285,510	7,636	SH		SOLE		7,636	0	0
SHELL PLC	CS	780259305	81,191,745	1,124,851	SH		SOLE		237,961	0	886,890
SHELL PLC	CS	780259305	5,958,225	82,550	SH		DFND		82,290	0	260
SHIONOGI & CO LTD UNSP	CS	824667109	13,670,654	1,407,885	SH		SOLE		468,625	0	939,260
SHIONOGI & CO LTD UNSP	CS	824667109	1,810,302	185,580	SH		DFND		184,900	0	680
SK TELECOM CO	CS	78440P306	3,458,055	165,220	SH		SOLE		0	0	165,220
SKECHERS U S A INC	CS	830566105	28,851,863	417,417	SH		SOLE		26,756	0	390,661
SONY GROUP CORPORATION	CS	835699307	13,846,341	162,994	SH		SOLE		54,294	0	108,700
SONY GROUP CORPORATION	CS	835699307	2,112,032	24,861	SH		DFND		24,785	0	76
STANDARD BANK GROUP LTD	CS	853118206	25,346,868	2,160,905	SH		SOLE		726,565	0	1,434,340
STANDARD BANK GROUP LTD	CS	853118206	3,959,081	342,930	SH		DFND		341,880	0	1,050
STATE STR CORP COM	CS	857477103	20,903,668	282,482	SH		SOLE		1,752	0	280,730
STELLANTIS NV	CS	N82405106	19,736,517	994,283	SH		SOLE		295,383	0	698,900
STELLANTIS NV	CS	N82405106	2,235,593	112,620	SH		DFND		112,230	0	390
SUN LIFE FINANCIAL	CS	866796105	20,435,541	417,137	SH		SOLE		153,827	0	263,310
SUN LIFE FINANCIAL	CS	866796105	3,253,475	66,410	SH		DFND		66,210	0	200
SYNCHRONY FINANCIAL	CS	87165B103	23,984,837	508,261	SH		SOLE		2,951	0	505,310
TAIWAN SEMICONDUCTOR MFG CO AD	CS	874039100	31,399,819	180,656	SH		SOLE		61,866	0	118,790
TAIWAN SEMICONDUCTOR MFG CO AD	CS	874039100	5,197,720	29,903	SH		DFND		29,808	0	95
TAPESTRY	CS	876030107	29,956,337	700,078	SH		SOLE		53,213	0	646,865
TE CONNECTIVITY LTD.	CS	H84989104	1,678,799	11,160	SH		SOLE		7,811	0	3,349
TEXAS ROADHOUSE	CS	882681109	2,302,975	13,412	SH		SOLE		13,412	0	0
TEXTRON INC	CS	883203101	39,917,430	464,913	SH		SOLE		28,552	0	436,361
THALES UNSPONSORD ADR	CS	883219206	21,804,110	685,011	SH		SOLE		228,811	0	456,200
THALES UNSPONSORD ADR	CS	883219206	3,419,478	106,710	SH		DFND		106,380	0	330
TOKYO ELECTRON LTD	CS	889110102	20,716,044	189,190	SH		SOLE		64,375	0	124,815
TOKYO ELECTRON LTD	CS	889110102	3,295,732	30,380	SH		DFND		30,290	0	90
TOTALENERGIES, SE	CS	89151E109	69,977,392	1,049,451	SH		SOLE		229,430	0	820,021
TOTALENERGIES, SE	CS	89151E109	4,772,037	71,565	SH		DFND		71,343	0	222
TRUIST FINL CORP	CS	89832Q109	735,314	18,927	SH		SOLE		18,927	0	0
UBS GROUP AG	CS	H42097107	26,267,087	889,204	SH		SOLE		302,954	0	586,250
UBS GROUP AG	CS	H42097107	4,130,922	139,840	SH		DFND		139,420	0	420
UNILEVER	CS	904767704	2,265,203	41,193	SH		SOLE		41,193	0	0
UNION PAC CORP COM	CS	907818108	14,507,791	64,120	SH		SOLE		7,961	0	56,159
UNITED HEALTHCARE CORP	CS	91324P102	24,174,572	47,470	SH		SOLE		5,447	0	42,023
UNITED RENTALS INC	CS	911363109	77,357,315	119,613	SH		SOLE		10,908	0	108,705
VALE SA	CS	91912E105	32,510,821	2,910,548	SH		SOLE		532,812	0	2,377,736
VALE SA	CS	91912E105	1,914,984	171,440	SH		DFND		170,900	0	540
VANGUARD BD INDEX FD INC	BF	921937827	398,226	5,192	SH		SOLE		5,192	0	0
VEOLIA ENVIRONMENT	CS	92334N103	14,929,060	997,266	SH		SOLE		340,126	0	657,140
VEOLIA ENVIRONMENT	CS	92334N103	2,537,257	169,580	SH		DFND		169,080	0	500
VERIZON COMMUNICATIONS	CS	92343V104	19,750,743	478,922	SH		SOLE		46,713	0	432,209
VIPSHOP HOLDINGS LTD ADS	CS	92763W103	25,440,962	1,953,991	SH		SOLE		590,431	0	1,363,560
VIPSHOP HOLDINGS LTD ADS	CS	92763W103	3,541,268	271,986	SH		DFND		271,163	0	823
ZTO EXPRESS INC	CS	98980A105	17,764,179	856,105	SH		SOLE		291,535	0	564,570
ZTO EXPRESS INC	CS	98980A105	2,789,936	134,450	SH		DFND		134,060	0	390