Zurich Insurance (ZFSVF) 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
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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
AT&T Inc	COM	00206R102	55,753,470	3,028,434	SH		DFND	1	0	3,028,434	0
Abbott Laboratories	COM	002824100	42,846,975	390,263	SH		DFND	1	0	390,263	0
Adobe Inc	COM	00724F101	102,779,291	305,409	SH		DFND	1	0	305,409	0
Advance Auto Parts Inc	COM	00751Y106	955,695	6,500	SH		DFND	1	0	6,500	0
Advanced Drainage Systems Inc	COM	00790R104	35,928,353	438,311	SH		DFND	1	0	438,311	0
Agilent Technologies Inc	COM	00846U101	87,358,487	583,752	SH		DFND	1	0	583,752	0
Ally Financial Inc	COM	02005N100	814,185	33,300	SH		DFND	1	0	33,300	0
Alphabet Inc	CAP STK CL C	02079K107	204,345	2,303	SH		DFND	1	0	2,303	0
Alphabet Inc	CAP STK CL A	02079K305	260,763,589	2,955,498	SH		DFND	1	0	2,955,498	0
Amazon.com Inc	COM	023135106	117,510,204	1,398,931	SH		DFND	1	0	1,398,931	0
American Tower Corp	COM	03027X100	77,574,234	366,158	SH		DFND	1	0	366,158	0
AmerisourceBergen Corp	COM	03073E105	1,541,103	9,300	SH		DFND	1	0	9,300	0
AMETEK Inc	COM	031100100	75,795,166	542,479	SH		DFND	1	0	542,479	0
Amgen Inc	COM	031162100	56,909,886	216,684	SH		DFND	1	0	216,684	0
Amphenol Corp	CL A	032095101	87,302,962	1,146,611	SH		DFND	1	0	1,146,611	0
Analog Devices Inc	COM	032654105	54,449,759	331,950	SH		DFND	1	0	331,950	0
Elevance Health Inc	COM	036752103	2,051,880	4,000	SH		DFND	1	0	4,000	0
Apollo Global Management Inc	COM	03769M106	51,768,200	811,541	SH		DFND	1	0	811,541	0
Apple Inc	COM	037833100	369,886,933	2,846,817	SH		DFND	1	0	2,846,817	0
Applied Materials Inc	COM	038222105	62,446,191	641,263	SH		DFND	1	0	641,263	0
Archer-Daniels-Midland Co	COM	039483102	2,070,555	22,300	SH		DFND	1	0	22,300	0
Autodesk Inc	COM	052769106	57,685,461	308,693	SH		DFND	1	0	308,693	0
Avery Dennison Corp	COM	053611109	1,755,700	9,700	SH		DFND	1	0	9,700	0
BJ's Wholesale Club Holdings Inc	COM	05550J101	39,685,282	599,838	SH		DFND	1	0	599,838	0
Baker Hughes Co	CL A	05722G100	53,861,125	1,823,946	SH		DFND	1	0	1,823,946	0
Berkshire Hathaway Inc	CL B NEW	084670702	139,748,213	452,406	SH		DFND	1	0	452,406	0
Best Buy Co Inc	COM	086516101	826,163	10,300	SH		DFND	1	0	10,300	0
BlackRock Inc	COM	09247X101	1,417,260	2,000	SH		DFND	1	0	2,000	0
Booking Holdings Inc	COM	09857L108	51,849,124	25,728	SH		DFND	1	0	25,728	0
BorgWarner Inc	COM	099724106	1,139,075	28,300	SH		DFND	1	0	28,300	0
Bristol-Myers Squibb Co	COM	110122108	4,302,610	59,800	SH		DFND	1	0	59,800	0
Broadridge Financial Solutions Inc	COM	11133T103	1,421,778	10,600	SH		DFND	1	0	10,600	0
Broadcom Inc	COM	11135F101	5,311,735	9,500	SH		DFND	1	0	9,500	0
Brunswick Corp/DE	COM	117043109	32,411,565	449,661	SH		DFND	1	0	449,661	0
CH Robinson Worldwide Inc	COM NEW	12541W209	970,536	10,600	SH		DFND	1	0	10,600	0
CSX Corp	COM	126408103	1,483,942	47,900	SH		DFND	1	0	47,900	0
CVS Health Corp	COM	126650100	4,361,292	46,800	SH		DFND	1	0	46,800	0
Campbell Soup Co	COM	134429109	1,390,375	24,500	SH		DFND	1	0	24,500	0
Canadian National Railway Co	COM	136375102	29,964,893	252,060	SH		DFND	1	0	252,060	0
Cardinal Health Inc	COM	14149Y108	1,445,156	18,800	SH		DFND	1	0	18,800	0
Carlisle Cos Inc	COM	142339100	38,335,778	162,681	SH		DFND	1	0	162,681	0
Carrier Global Corp	COM	14448C104	1,464,375	35,500	SH		DFND	1	0	35,500	0
Celanese Corp	COM	150870103	654,336	6,400	SH		DFND	1	0	6,400	0
Chevron Corp	COM	166764100	97,690,125	544,265	SH		DFND	1	0	544,265	0
Cisco Systems Inc	COM	17275R102	3,801,672	79,800	SH		DFND	1	0	79,800	0
Clean Harbors Inc	COM	184496107	40,547,064	355,302	SH		DFND	1	0	355,302	0
Coca-Cola Co/The	COM	191216100	146,617,742	2,304,948	SH		DFND	1	0	2,304,948	0
Coca-Cola Femsa SAB de CV	SPONSORD ADR REP	191241108	1,310,084	19,300	SH		DFND	1	0	19,300	0
Cognizant Technology Solutions Corp	CL A	192446102	1,612,758	28,200	SH		DFND	1	0	28,200	0
Colgate-Palmolive Co	COM	194162103	25,449,170	323,000	SH		DFND	1	0	323,000	0
Comcast Corp	CL A	20030N101	1,147,016	32,800	SH		DFND	1	0	32,800	0
ConocoPhillips	COM	20825C104	65,461,444	554,758	SH		DFND	1	0	554,758	0
Cummins Inc	COM	231021106	1,308,366	5,400	SH		DFND	1	0	5,400	0
Danaher Corp	COM	235851102	105,623,093	397,947	SH		DFND	1	0	397,947	0
Darden Restaurants Inc	COM	237194105	1,383,300	10,000	SH		DFND	1	0	10,000	0
Deere & Co	COM	244199105	1,457,784	3,400	SH		DFND	1	0	3,400	0
Dell Technologies Inc	CL C	24703L202	953,214	23,700	SH		DFND	1	0	23,700	0
Dollar Tree Inc	COM	256746108	43,513,733	307,648	SH		DFND	1	0	307,648	0
Dover Corp	COM	260003108	1,015,575	7,500	SH		DFND	1	0	7,500	0
Eagle Materials Inc	COM	26969P108	48,079,345	361,907	SH		DFND	1	0	361,907	0
Eastman Chemical Co	COM	277432100	1,221,600	15,000	SH		DFND	1	0	15,000	0
Emerson Electric Co	COM	291011104	1,565,778	16,300	SH		DFND	1	0	16,300	0
Enterprise Products Partners LP	COM	293792107	1,372,428	56,900	SH		DFND	1	0	56,900	0
Expeditors International of Washington Inc	COM	302130109	1,517,232	14,600	SH		DFND	1	0	14,600	0
Exxon Mobil Corp	COM	30231G102	131,160,929	1,189,129	SH		DFND	1	0	1,189,129	0
Meta Platforms Inc	CL A	30303M102	96,216,403	799,538	SH		DFND	1	0	799,538	0
Fastenal Co	COM	311900104	54,943,063	1,161,096	SH		DFND	1	0	1,161,096	0
Fortune Brands Innovations Inc	COM	34964C106	1,005,136	17,600	SH		DFND	1	0	17,600	0
Franco-Nevada Corp	COM	351858105	1,431,938	10,500	SH		DFND	1	0	10,500	0
Franklin Resources Inc	COM	354613101	1,411,330	53,500	SH		DFND	1	0	53,500	0
FRANKLIN FTSE BRAZIL ETF	FTSE BRAZIL	35473P835	1,275,093	66,230	SH		DFND		0	66,230	0
Freeport-McMoRan Inc	CL B	35671D857	82,430,892	2,169,234	SH		DFND	1	0	2,169,234	0
Gartner Inc	COM	366651107	17,783,823	52,906	SH		DFND	1	0	52,906	0
General Mills Inc	COM	370334104	1,593,150	19,000	SH		DFND	1	0	19,000	0
Genuine Parts Co	COM	372460105	2,689,405	15,500	SH		DFND	1	0	15,500	0
Grocery Outlet Holding Corp	COM	39874R101	387,099	13,275	SH		DFND		0	13,275	0
HP Inc	COM	40434L105	884,023	32,900	SH		DFND	1	0	32,900	0
Home Depot Inc/The	COM	437076102	128,169,039	405,778	SH		DFND	1	0	405,778	0
Huntsman Corp	COM	447011107	884,856	32,200	SH		DFND	1	0	32,200	0
ITT Inc	COM	45073V108	1,038,080	12,800	SH		DFND	1	0	12,800	0
IDEXX Laboratories Inc	COM	45168D104	40,955,512	100,391	SH		DFND	1	0	100,391	0
Illinois Tool Works Inc	COM	452308109	1,564,130	7,100	SH		DFND	1	0	7,100	0
Ingersoll Rand Inc	COM	45687V106	40,725,427	779,434	SH		DFND	1	0	779,434	0
Interpublic Group of Cos Inc/The	COM	460690100	1,528,929	45,900	SH		DFND	1	0	45,900	0
Intuit Inc	COM	461202103	69,708,524	179,098	SH		DFND	1	0	179,098	0
Intuitive Surgical Inc	COM NEW	46120E602	47,658,452	179,606	SH		DFND	1	0	179,606	0
Invesco WilderHill Clean Energy ETF	WILDERHIL CLAN	46137V134	5,207,667	135,864	SH		DFND	1	0	135,864	0
Invesco DB Agriculture Fund	AGRICULTURE FD	46140H106	1,440,866	71,507	SH		DFND	1	0	71,507	0
IQVIA Holdings Inc	COM	46266C105	47,467,891	231,675	SH		DFND	1	0	231,675	0
ISHARES MSCI AUSTRALIA ETF	MSCI AUST ETF	464286103	240,679	12,267	SH		DFND		0	12,267	0
ISHARES MSCI BRAZIL ETF	MSCI BRAZIL ETF	464286400	3,283,404	104,667	SH		DFND		0	104,667	0
ISHARES MSCI CANADA ETF	MSCI CDA ETF	464286509	574,981	18,945	SH		DFND		0	18,945	0
ISHARES MSCI EUROZONE ETF	MSCI EURZONE ETF	464286608	377,445	11,847	SH		DFND		0	11,847	0
ISHARES MSCI CHILE ETF	MSCI CHILE ETF	464286640	2,866,715	121,936	SH		DFND		0	121,936	0
ISHARES MSCI FRANCE ETF	MSCI FRANCE ETF	464286707	480,933	17,786	SH		DFND		0	17,786	0
ISHARES CORE S&P 500 ETF	CORE S&P500 ETF	464287200	324,330	906	SH		DFND		0	906	0
ISHARES S&P 500 VALUE ETF	S&P 500 VAL ETF	464287408	6,828,300	52,655	SH		DFND		0	52,655	0
ISHARES U.S. INDUSTRIALS ETF	US INDUSTRIALS	464287754	1,547,337	18,234	SH		DFND		0	18,234	0
ISHARES EUROPE ETF	EUROPE ETF	464287861	4,672,979	124,480	SH		DFND		0	124,480	0
ISHARES MSCI ALL COUNTRY ASI	MSCI AC ASIA ETF	464288182	3,738,900	64,934	SH		DFND		0	64,934	0
ISHARES MSCI ACWI ETF	MSCI ACWI ETF	464288257	339,228	4,376	SH		DFND		0	4,376	0
iShares MBS ETF	MBS ETF	464288588	31,348,304	338,060	SH		DFND		0	338,060	0
iShares Trust iShares 1-5 Year Investment Grade Corporate Bond ETF	ISHS 1-5YR INVS	464288646	33,856,725	679,581	SH		DFND		0	679,581	0
ISHARES MSCI INDONESIA ETF	MSCI INDONIA ETF	46429B309	514,708	22,224	SH		DFND		0	22,224	0
ISHARES MSCI TAIWAN ETF	MSCI TAIWAN ETF	46434G772	2,886,195	68,151	SH		DFND		0	68,151	0
ISHARES MSCI SINGAPORE ETF	MSCI SINGPOR ETF	46434G780	513,016	30,356	SH		DFND		0	30,356	0
ISHARES MSCI JAPAN ETF	MSCI JPN ETF NEW	46434G822	2,303,842	47,268	SH		DFND		0	47,268	0
ISHARES MSCI UNITED KINGDOM	MSCI UK ETF NEW	46435G334	1,788,124	68,774	SH		DFND		0	68,774	0
JPMorgan Chase & Co	COM	46625H100	109,332,669	815,307	SH		DFND	1	0	815,307	0
JPMORGAN BETABUILDERS JAPAN	BETABULDRS JAPAN	46641Q217	1,046,438	25,648	SH		DFND		0	25,648	0
Johnson & Johnson	COM	478160104	150,373,666	851,252	SH		DFND	1	0	851,252	0
KLA Corp	COM NEW	482480100	1,885,150	5,000	SH		DFND	1	0	5,000	0
KKR & Co Inc	COM	48251W104	45,783,025	986,278	SH		DFND	1	0	986,278	0
Kellogg Co	COM	487836108	1,282,320	18,000	SH		DFND	1	0	18,000	0
Kroger Co/The	COM	501044101	1,453,308	32,600	SH		DFND	1	0	32,600	0
Lam Research Corp	COM	512807108	1,765,260	4,200	SH		DFND	1	0	4,200	0
Estee Lauder Cos Inc/The	CL A	518439104	47,572,363	191,739	SH		DFND	1	0	191,739	0
Leggett & Platt Inc	COM	524660107	834,757	25,900	SH		DFND	1	0	25,900	0
Lennox International Inc	COM	526107107	1,052,612	4,400	SH		DFND	1	0	4,400	0
Eli Lilly & Co	COM	532457108	37,103,127	101,419	SH		DFND	1	0	101,419	0
Lockheed Martin Corp	COM	539830109	67,500,001	138,749	SH		DFND	1	0	138,749	0
Lowe's Cos Inc	COM	548661107	1,633,768	8,200	SH		DFND	1	0	8,200	0
Lululemon Athletica Inc	COM	550021109	47,151,927	147,175	SH		DFND	1	0	147,175	0
MKS Instruments Inc	COM	55306N104	813,408	9,600	SH		DFND	1	0	9,600	0
Markel Corp	COM	570535104	56,673,150	43,016	SH		DFND	1	0	43,016	0
Mastercard Inc	CL A	57636Q104	133,503,979	383,930	SH		DFND	1	0	383,930	0
Masterbrand Inc	COMMON STOCK	57638P104	132,880	17,600	SH		DFND	1	0	17,600	0
Merck & Co Inc	COM	58933Y105	156,719,538	1,412,524	SH		DFND	1	0	1,412,524	0
Microsoft Corp	COM	594918104	423,656,179	1,766,559	SH		DFND	1	0	1,766,559	0
Mondelez International Inc	CL A	609207105	19,762,791	296,516	SH		DFND	1	0	296,516	0
Moody's Corp	COM	615369105	41,589,050	149,268	SH		DFND	1	0	149,268	0
Motorola Solutions Inc	COM NEW	620076307	1,752,428	6,800	SH		DFND	1	0	6,800	0
National Fuel Gas Co	COM	636180101	841,890	13,300	SH		DFND	1	0	13,300	0
Netflix Inc	COM	64110L106	60,255,484	204,339	SH		DFND	1	0	204,339	0
NextEra Energy Inc	COM	65339F101	80,661,544	964,851	SH		DFND	1	0	964,851	0
NIKE Inc	CL B	654106103	54,194,352	463,160	SH		DFND	1	0	463,160	0
Northrop Grumman Corp	COM	666807102	74,566,882	136,667	SH		DFND	1	0	136,667	0
Omnicom Group Inc	COM	681919106	1,019,625	12,500	SH		DFND	1	0	12,500	0
Open Text Corp	COM	683715106	975,283	32,900	SH		DFND	1	0	32,900	0
Otis Worldwide Corp	COM	68902V107	1,260,791	16,100	SH		DFND	1	0	16,100	0
Owens Corning	COM	690742101	1,492,750	17,500	SH		DFND	1	0	17,500	0
PACCAR Inc	COM	693718108	1,375,683	13,900	SH		DFND	1	0	13,900	0
Packaging Corp of America	COM	695156109	972,116	7,600	SH		DFND	1	0	7,600	0
Paychex Inc	COM	704326107	1,190,268	10,300	SH		DFND	1	0	10,300	0
PepsiCo Inc	COM	713448108	78,737,229	435,831	SH		DFND	1	0	435,831	0
Polaris Inc	COM	731068102	666,600	6,600	SH		DFND	1	0	6,600	0
Pool Corp	COM	73278L105	43,806,105	144,895	SH		DFND	1	0	144,895	0
T Rowe Price Group Inc	COM	74144T108	1,112,412	10,200	SH		DFND	1	0	10,200	0
Procter & Gamble Co/The	COM	742718109	61,446,819	405,429	SH		DFND	1	0	405,429	0
Public Storage	COM	74460D109	1,260,855	4,500	SH		DFND	1	0	4,500	0
PulteGroup Inc	COM	745867101	1,215,651	26,700	SH		DFND	1	0	26,700	0
Regal Rexnord Corp	COM	758750103	32,190,874	268,302	SH		DFND	1	0	268,302	0
ResMed Inc	COM	761152107	1,332,032	6,400	SH		DFND	1	0	6,400	0
Robert Half International Inc	COM	770323103	989,322	13,400	SH		DFND	1	0	13,400	0
S&P Global Inc	COM	78409V104	39,577,850	118,164	SH		DFND	1	0	118,164	0
SPDR S&P 500 ETF Trust	TR UNIT	78462F103	7,533,400	21,128	SH		DFND		0	21,128	0
SPDR Portfolio Intermediate Term Corporate Bond ETF	PORTFOLIO INTRMD	78464A375	44,654,403	1,402,903	SH		DFND		0	1,402,903	0
SPDR Portfolio Mortgage Backed Bond ETF	PORT MTG BK ETF	78464A383	32,165,802	1,482,295	SH		DFND		0	1,482,295	0
SPDR PORT S&P 500 VALUE	PRTFLO S&P500 VL	78464A508	2,776,486	79,807	SH		DFND		0	79,807	0
SPDR S&P 500 ESG ETF	S&P 500 ESG ETF	78468R531	407,224	11,900	SH		DFND		0	11,900	0
Salesforce Inc	COM	79466L302	64,245,556	484,543	SH		DFND	1	0	484,543	0
Charles Schwab Corp/The	COM	808513105	93,699,722	1,125,387	SH		DFND	1	0	1,125,387	0
Sea Ltd	SPONSORD ADS	81141R100	2,878,092	55,316	SH		DFND	1	0	55,316	0
Sealed Air Corp	COM	81211K100	932,756	18,700	SH		DFND	1	0	18,700	0
MATERIALS SELECT SECTOR SPDR	SBI MATERIALS	81369Y100	1,228,142	17,916	SH		DFND		0	17,916	0
HEALTH CARE SELECT SECTOR	SBI HEALTHCARE	81369Y209	9,349,486	76,698	SH		DFND		0	76,698	0
CONSUMER STAPLES SPDR	SBI CONS STPLS	81369Y308	3,176,912	46,961	SH		DFND		0	46,961	0
CONSUMER DISCRETIONARY SELT	SBI CONS DISCR	81369Y407	10,424,166	74,994	SH		DFND		0	74,994	0
ENERGY SELECT SECTOR SPDR	ENERGY	81369Y506	5,856,772	73,100	SH		DFND		0	73,100	0
FINANCIAL SELECT SECTOR SPDR	FINANCIAL	81369Y605	8,502,827	280,714	SH		DFND		0	280,714	0
INDUSTRIAL SELECT SECT SPDR	SBI INT-INDS	81369Y704	5,083,233	59,965	SH		DFND		0	59,965	0
TECHNOLOGY SELECT SECT SPDR	TECHNOLOGY	81369Y803	22,793,774	195,554	SH		DFND		0	195,554	0
REAL ESTATE SELECT SECT SPDR	RL EST SEL SEC	81369Y860	1,089,020	32,030	SH		DFND		0	32,030	0
UTILITIES SELECT SECTOR SPDR	SBI INT-UTILS	81369Y886	1,383,523	22,489	SH		DFND		0	22,489	0
Skyworks Solutions Inc	COM	83088M102	1,047,995	11,500	SH		DFND	1	0	11,500	0
A O Smith Corp	COM	831865209	1,064,664	18,600	SH		DFND	1	0	18,600	0
Snap-on Inc	COM	833034101	1,690,826	7,400	SH		DFND	1	0	7,400	0
Stifel Financial Corp	COM	860630102	922,246	15,800	SH		DFND	1	0	15,800	0
Stryker Corp	COM	863667101	24,310,130	99,432	SH		DFND	1	0	99,432	0
Sysco Corp	COM	871829107	1,353,165	17,700	SH		DFND	1	0	17,700	0
TFI International Inc	COM	87241L109	1,062,115	10,600	SH		DFND	1	0	10,600	0
T-Mobile US Inc	COM	872590104	78,085,280	557,752	SH		DFND	1	0	557,752	0
Texas Instruments Inc	COM	882508104	87,009,974	526,631	SH		DFND	1	0	526,631	0
Thermo Fisher Scientific Inc	COM	883556102	81,820,419	148,578	SH		DFND	1	0	148,578	0
3M Co	COM	88579Y101	1,115,256	9,300	SH		DFND	1	0	9,300	0
Tractor Supply Co	COM	892356106	85,480,051	379,962	SH		DFND	1	0	379,962	0
Tyson Foods Inc	CL A	902494103	958,650	15,400	SH		DFND	1	0	15,400	0
Ulta Beauty Inc	COM	90384S303	51,686,354	110,189	SH		DFND	1	0	110,189	0
Union Pacific Corp	COM	907818108	83,341,948	402,482	SH		DFND	1	0	402,482	0
UnitedHealth Group Inc	COM	91324P102	178,433,670	336,553	SH		DFND	1	0	336,553	0
VANECK MORNINGSTAR WIDE MOAT	MRNGSTR WDE MOAT	92189F643	6,594,012	111,029	SH		DFND		0	111,029	0
VANGUARD CONSUMER STAPLE ETF	CONSUM STP ETF	92204A207	2,595,778	14,867	SH		DFND		0	14,867	0
VANGUARD FINANCIALS ETF	FINANCIALS ETF	92204A405	3,295,391	44,115	SH		DFND		0	44,115	0
VANGUARD HEALTH CARE ETF	HEALTH CAR ETF	92204A504	8,760,167	39,073	SH		DFND		0	39,073	0
VANGUARD COMMUNICATION SERVI	COMM SRVC ETF	92204A884	7,003,432	85,627	SH		DFND		0	85,627	0
Vanguard Short-Term Corporate Bond ETF	SHRT TRM CORP BD	92206C409	38,551,492	512,721	SH		DFND		0	512,721	0
Vanguard Mortgage-Backed Securities ETF	MTG-BKD SECS ETF	92206C771	21,287,337	467,648	SH		DFND		0	467,648	0
Vanguard S&P 500 ETF	S&P 500 ETF SHS	922908363	32,139,254	95,721	SH		DFND		0	95,721	0
Visa Inc	COM CL A	92826C839	144,656,640	696,268	SH		DFND	1	0	696,268	0
Walgreens Boots Alliance Inc	COM	931427108	1,023,664	27,400	SH		DFND	1	0	27,400	0
Waste Connections Inc	COM	94106B101	29,713,722	224,153	SH		DFND	1	0	224,153	0
Watsco Inc	COM	942622200	1,022,540	4,100	SH		DFND	1	0	4,100	0
Wells Fargo & Co	COM	949746101	69,743,228	1,689,107	SH		DFND	1	0	1,689,107	0
Western Midstream Partners LP	COM UNIT LP INT	958669103	1,092,795	40,700	SH		DFND	1	0	40,700	0
Westrock Co	COM	96145D105	966,900	27,500	SH		DFND	1	0	27,500	0
Whirlpool Corp	COM	963320106	947,782	6,700	SH		DFND	1	0	6,700	0
Zoetis Inc	CL A	98978V103	1,465,500	10,000	SH		DFND	1	0	10,000	0
Deutsche Bank AG	NAMEN AKT	D18190898	111,491	9,834	SH		DFND		0	9,834	0
Deutsche Bank AG	NAMEN AKT	D18190898	5,951,012	526,094	SH		DFND	1	0	526,094	0
Amdocs Ltd	SHS	G02602103	1,190,790	13,100	SH		DFND	1	0	13,100	0
Aon PLC	SHS CL A	G0403H108	35,908,750	119,640	SH		DFND	1	0	119,640	0
Accenture PLC	SHS CLASS A	G1151C101	3,575,656	13,400	SH		DFND	1	0	13,400	0
Eaton Corp PLC	SHS	G29183103	1,710,755	10,900	SH		DFND	1	0	10,900	0
Johnson Controls International plc	SHS	G51502105	1,292,800	20,200	SH		DFND	1	0	20,200	0
Linde PLC	SHS	G5494J103	22,236,286	68,208	SH		DFND		0	68,208	0
Linde PLC	SHS	G5494J103	95,240,385	291,971	SH		DFND	1	0	291,971	0
Medtronic PLC	SHS	G5960L103	2,440,408	31,400	SH		DFND	1	0	31,400	0
Seagate Technology Holdings PLC	ORD SHS	G7997R103	594,493	11,300	SH		DFND	1	0	11,300	0
Alcon Inc	ORD SHS	H01301128	12,750,842	186,641	SH		DFND	1	0	186,641	0
UBS Group AG	SHS	H42097107	258,019	13,873	SH		DFND		0	13,873	0
UBS Group AG	SHS	H42097107	27,997,008	1,504,890	SH		DFND	1	0	1,504,890	0
Logitech International SA	SHS	H50430232	2,610,150	42,304	SH		DFND	1	0	42,304	0
TE Connectivity Ltd	SHS	H84989104	1,790,880	15,600	SH		DFND	1	0	15,600	0
CNH Industrial NV	SHS	N20944109	4,584,151	286,727	SH		DFND	1	0	286,727	0
Ferrari NV	COM	N3167Y103	6,648,360	31,084	SH		DFND	1	0	31,084	0
LyondellBasell Industries NV	SHS - A -	N53745100	1,029,572	12,400	SH		DFND	1	0	12,400	0
QIAGEN NV	SHS NEW	N72482123	2,709,086	53,941	SH		DFND	1	0	53,941	0
Stellantis NV	SHS	N82405106	4,699,267	331,621	SH		DFND		0	331,621	0
Stellantis NV	SHS	N82405106	10,678,602	753,234	SH		DFND	1	0	753,234	0