BI Asset Management Fondsmaeglerselskab A/S 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
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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
AMERICAN ELEC PWR CO INC COM	COM	025537101	574	7,177	SH		DFND		7,177	0	0
AMERICAN WTR WKS CO INC NEW COM	NEW COM	030420103	15,568	130,211	SH		DFND		130,211	0	0
BIOGEN INC COM	COM	09062X103	5,463	17,268	SH		DFND		17,268	0	0
CHEVRON CORP NEW COM	NEW COM	166764100	1,601	22,096	SH		DFND		22,096	0	0
CONOCOPHILLIPS COM	COM	20825C104	3,204	104,017	SH		DFND		104,017	0	0
DUKE ENERGY CORP NEW COM NEW	NEW COM NEW	26441C204	1,953	24,145	SH		DFND		24,145	0	0
ERIE INDTY CO CL A	CL A	29530P102	3,127	21,094	SH		DFND		21,094	0	0
FAIR ISAAC CORP COM	COM	303250104	2,458	7,987	SH		DFND		7,987	0	0
GILEAD SCIENCES INC COM	COM	375558103	15,010	200,771	SH		DFND		200,771	0	0
HOME DEPOT INC COM	COM	437076102	6,357	34,045	SH		DFND		34,045	0	0
KB HOME COM	COM	48666K109	1,757	97,069	SH		DFND		97,069	0	0
LAUDER ESTEE COS INC CL A	CL A	518439104	2,713	17,026	SH		DFND		17,026	0	0
LILLY ELI & CO COM	COM	532457108	26,141	188,442	SH		DFND		178,918	0	9,524
PRUDENTIAL FINL INC COM	COM	744320102	3,556	68,206	SH		DFND		68,206	0	0
QUEST DIAGNOSTICS INC COM	COM	74834L100	1,050	13,074	SH		DFND		13,074	0	0
RINGCENTRAL INC CL A	CL A	76680R206	2,110	9,956	SH		DFND		9,956	0	0
SUN CMNTYS INC COM	COM	866674104	533	4,271	SH		DFND		4,271	0	0
TELUS CORP COM	COM	87971M103	3,143	201,528	SH		DFND		201,528	0	0
TEXAS INSTRS INC COM	COM	882508104	2,476	24,779	SH		DFND		24,779	0	0
TOPBUILD CORP COM	COM	89055F103	1,412	19,709	SH		DFND		19,709	0	0
UNITED AIRLINES HLDGS INC COM	COM	910047109	355	11,255	SH		DFND		11,255	0	0
UNITED RENTALS INC COM	COM	911363109	2,235	21,720	SH		DFND		21,720	0	0
UNITEDHEALTH GROUP INC COM	COM	91324P102	40,446	162,188	SH		DFND		157,817	0	4,371
VISTRA ENERGY CORP COM	COM	92840M102	3,028	189,750	SH		DFND		189,750	0	0
AMGEN INC COM	COM	031162100	5,005	24,690	SH		DFND		24,690	0	0
CLOROX CO DEL COM	COM	189054109	2,304	13,300	SH		DFND		13,300	0	0
COCA COLA CO COM	COM	191216100	24,498	553,622	SH		DFND		530,518	0	23,104
COLGATE PALMOLIVE CO COM	COM	194162103	4,247	63,999	SH		DFND		63,999	0	0
D R HORTON INC COM	COM	23331A109	1,464	43,059	SH		DFND		43,059	0	0
FRESHPET INC COM	COM	358039105	487	7,625	SH		DFND		7,625	0	0
GLOBAL PMTS INC COM	COM	37940X102	1,083	7,511	SH		DFND		7,511	0	0
INFOSYS LTD SPONSORED ADR	ADR	456788108	780	95,000	SH		DFND		95,000	0	0
NETAPP INC COM	COM	64110D104	2,041	48,959	SH		DFND		48,959	0	0
NVIDIA CORP COM	COM	67066G104	5,392	20,456	SH		DFND		20,456	0	0
O REILLY AUTOMOTIVE INC NEW COM	NEW COM	67103H107	1,601	5,317	SH		DFND		5,317	0	0
ROYAL BK CDA MONTREAL QUE COM	COM	780087102	34,067	556,260	SH		DFND		532,190	0	24,070
VERIZON COMMUNICATIONS INC COM	COM	92343V104	29,892	556,346	SH		DFND		528,623	0	27,723
WPX ENERGY INC COM	COM	98212B103	1,032	338,395	SH		DFND		338,395	0	0
ROYAL CARIBBEAN CRUISES LTD COM	COM	V7780T103	288	8,938	SH		DFND		8,938	0	0
ADOBE INC COM	COM	00724F101	3,882	12,198	SH		DFND		12,198	0	0
ALPHABET INC CAP STK CL A	CL A	02079K305	15,166	13,052	SH		DFND		13,052	0	0
CMS ENERGY CORP COM	COM	125896100	23,074	392,747	SH		DFND		372,206	0	20,541
FIRST AMERN FINL CORP COM	COM	31847R102	2,103	49,596	SH		DFND		49,596	0	0
J2 GLOBAL INC COM	COM	48123V102	2,517	33,625	SH		DFND		33,625	0	0
MGIC INVT CORP WIS COM	COM	552848103	4,467	703,511	SH		DFND		703,511	0	0
MANHATTAN ASSOCS INC COM	COM	562750109	1,043	20,933	SH		DFND		20,933	0	0
MASTERCARD INC CL A	CL A	57636Q104	9,150	37,880	SH		DFND		37,880	0	0
MICROSOFT CORP COM	COM	594918104	43,592	276,405	SH		DFND		276,405	0	0
PULTE GROUP INC COM	COM	745867101	694	31,094	SH		DFND		31,094	0	0
QUDIAN INC ADR	ADR	747798106	429	238,356	SH		DFND		238,356	0	0
S&P GLOBAL INC COM	COM	78409V104	5,814	23,727	SH		DFND		23,727	0	0
TARGET CORP COM	COM	87612E106	1,128	12,135	SH		DFND		12,135	0	0
TESLA INC COM	COM	88160R101	947	1,807	SH		DFND		1,807	0	0
TORO CO COM	COM	891092108	1,926	29,591	SH		DFND		29,591	0	0
TRAVELERS COMPANIES INC COM	COM	89417E109	29,856	300,509	SH		DFND		285,207	0	15,302
VERTEX PHARMACEUTICALS INC COM	COM	92532F100	1,399	5,881	SH		DFND		5,881	0	0
WATERS CORP COM	COM	941848103	3,614	19,851	SH		DFND		19,851	0	0
WEIBO CORP SPONSORED ADR	ADR	948596101	4,366	131,874	SH		DFND		131,874	0	0
WESTERN UN CO COM	COM	959802109	2,257	124,507	SH		DFND		124,507	0	0
CHECK POINT SOFTWARE TECH LT ORD	ORD	M22465104	601	5,981	SH		DFND		5,981	0	0
ALCOA CORP COM	COM	013872106	244	39,545	SH		DFND		39,545	0	0
ALEXION PHARMACEUTICALS INC COM	COM	015351109	5,499	61,247	SH		DFND		61,247	0	0
AUTOHOME INC SP ADR RP CL A	CL A	05278C107	2,202	31,000	SH		DFND		31,000	0	0
AVERY DENNISON CORP COM	COM	053611109	26,150	256,698	SH		DFND		245,714	0	10,984
BLOCK H & R INC COM	COM	093671105	2,352	167,067	SH		DFND		167,067	0	0
CINEMARK HOLDINGS INC COM	COM	17243V102	464	45,549	SH		DFND		45,549	0	0
CISCO SYS INC COM	COM	17275R102	29,493	750,268	SH		DFND		711,226	0	39,042
CINTAS CORP COM	COM	172908105	1,281	7,397	SH		DFND		7,397	0	0
COGENT COMMUNICATIONS HLDGS COM NEW	COM NEW	19239V302	1,469	17,916	SH		DFND		17,916	0	0
DEXCOM INC COM	COM	252131107	1,232	4,575	SH		DFND		4,575	0	0
INTERPUBLIC GROUP COS INC COM	COM	460690100	1,377	85,079	SH		DFND		85,079	0	0
INTUIT COM	COM	461202103	4,482	19,487	SH		DFND		19,487	0	0
JOHNSON & JOHNSON COM	COM	478160104	29,242	222,998	SH		DFND		212,168	0	10,830
LOWES COS INC COM	COM	548661107	19,379	225,201	SH		DFND		214,132	0	11,069
MASCO CORP COM	COM	574599106	5,434	157,179	SH		DFND		157,179	0	0
MAXIMUS INC COM	COM	577933104	2,520	43,298	SH		DFND		43,298	0	0
POOL CORPORATION COM	COM	73278L105	1,969	10,007	SH		DFND		10,007	0	0
SIMON PPTY GROUP INC NEW COM	NEW COM	828806109	601	10,950	SH		DFND		10,950	0	0
SUN LIFE FINL INC COM	COM	866796105	499	15,677	SH		DFND		15,677	0	0
SYSCO CORP COM	COM	871829107	5,232	114,667	SH		DFND		114,667	0	0
TJX COS INC NEW COM	COM	872540109	1,749	36,592	SH		DFND		36,592	0	0
VMWARE INC CL A COM	CL A COM	928563402	1,073	8,862	SH		DFND		8,862	0	0
VOYA FINL INC COM	COM	929089100	1,195	29,468	SH		DFND		29,468	0	0
AMAZON COM INC COM	COM	023135106	35,309	18,110	SH		DFND		18,110	0	0
APOLLO GLOBAL MGMT INC COM CL A ADDED	CL A ADDED	03768E105	617	18,426	SH		DFND		18,426	0	0
AVANGRID INC COM	COM	05351W103	809	18,485	SH		DFND		18,485	0	0
BOOKING HLDGS INC COM	COM	09857L108	1,717	1,276	SH		DFND		1,276	0	0
BROWN & BROWN INC COM	COM	115236101	1,157	31,931	SH		DFND		31,931	0	0
CRACKER BARREL OLD CTRY STOR COM	COM	22410J106	829	9,959	SH		DFND		9,959	0	0
DARLING INGREDIENTS INC COM	COM	237266101	1,234	64,348	SH		DFND		64,348	0	0
ENTEGRIS INC COM	COM	29362U104	1,366	30,505	SH		DFND		30,505	0	0
EXELIXIS INC COM	COM	30161Q104	1,258	73,075	SH		DFND		73,075	0	0
EXXON MOBIL CORP COM	COM	30231G102	15,240	401,359	SH		DFND		380,535	0	20,824
FIRST REP BK SAN FRANCISCO C COM	COM	33616C100	10,524	127,901	SH		DFND		127,901	0	0
HCA HEALTHCARE INC COM	COM	40412C101	2,770	30,828	SH		DFND		30,828	0	0
JABIL INC COM	COM	466313103	1,767	71,881	SH		DFND		71,881	0	0
LEIDOS HLDGS INC COM	COM	525327102	1,375	15,003	SH		DFND		15,003	0	0
MICRON TECHNOLOGY INC COM	COM	595112103	526	12,505	SH		DFND		12,505	0	0
MOLSON COORS BREWING CO CL B	CL B	60871R209	2,061	52,829	SH		DFND		52,829	0	0
MOMENTA PHARMACEUTICALS INC COM	COM	60877T100	1,116	41,023	SH		DFND		41,023	0	0
ORACLE CORP COM	COM	68389X105	3,250	67,238	SH		DFND		67,238	0	0
PACCAR INC COM	COM	693718108	5,072	82,964	SH		DFND		82,964	0	0
PAYPAL HLDGS INC COM	COM	70450Y103	2,223	23,218	SH		DFND		23,218	0	0
ROBERT HALF INTL INC COM	COM	770323103	1,439	38,125	SH		DFND		38,125	0	0
SNAP ON INC COM	COM	833034101	2,312	21,250	SH		DFND		21,250	0	0
TRIPADVISOR INC COM	COM	896945201	1,373	78,971	SH		DFND		78,971	0	0
AMERICAN TOWER CORP NEW COM	NEW COM	03027X100	2,537	11,649	SH		DFND		11,649	0	0
ANTHEM INC COM	COM	036752103	24,305	107,052	SH		DFND		102,656	0	4,396
BLE ONE INC COM	COM	12685J105	1,371	834	SH		DFND		834	0	0
CIRRUS LOGIC INC COM	COM	172755100	1,366	20,815	SH		DFND		20,815	0	0
CUMMINS INC COM	COM	231021106	3,206	23,695	SH		DFND		23,695	0	0
EQUITY LIFESTYLE PPTYS INC COM	COM	29472R108	2,404	41,825	SH		DFND		41,825	0	0
FLOWERS FOODS INC COM	COM	343498101	1,346	65,586	SH		DFND		65,586	0	0
ILLINOIS TOOL WKS INC COM	COM	452308109	1,723	12,123	SH		DFND		12,123	0	0
INTEL CORP COM	COM	458140100	6,394	118,138	SH		DFND		118,138	0	0
MURPHY OIL CORP COM	COM	626717102	319	52,048	SH		DFND		52,048	0	0
NETEASE INC SPONSORED ADS	ADS	64110W102	8,821	27,483	SH		DFND		27,483	0	0
NEXSTAR MEDIA GROUP INC CL A	CL A	65336K103	714	12,368	SH		DFND		12,368	0	0
VISA INC COM CL A	CL A	92826C839	34,508	214,173	SH		DFND		214,173	0	0
WALMART INC COM	COM	931142103	1,959	17,241	SH		DFND		17,241	0	0
ZYNGA INC CL A	CL A	98986T108	2,083	304,032	SH		DFND		304,032	0	0
AMERIPRISE FINL INC COM	COM	03076C106	4,146	40,460	SH		DFND		40,460	0	0
ARROW ELECTRS INC COM	COM	042735100	1,436	27,684	SH		DFND		27,684	0	0
DISNEY WALT CO COM DISNEY	COM DISNEY	254687106	13,991	144,830	SH		DFND		144,830	0	0
FACEBOOK INC CL A	CL A	30303M102	4,646	27,854	SH		DFND		27,854	0	0
FRANCO NEVADA CORP COM	COM	351858105	1,776	17,844	SH		DFND		17,844	0	0
INTERCONTINENTAL EXCHANGE IN COM	COM	45866F104	25,394	314,476	SH		DFND		314,476	0	0
INTERNATIONAL FLAVORS&FRAGRA COM	COM	459506101	1,367	13,393	SH		DFND		13,393	0	0
KAR AUCTION SVCS INC COM	COM	48238T109	365	30,447	SH		DFND		30,447	0	0
KIMBERLY CLARK CORP COM	COM	494368103	4,446	34,769	SH		DFND		34,769	0	0
MACYS INC COM	COM	55616P104	291	59,201	SH		DFND		59,201	0	0
MARATHON PETE CORP COM	COM	56585A102	14,997	634,946	SH		DFND		604,898	0	30,048
MELCO RESORTS AND ENTMT LTD ADR	ADR	585464100	780	62,932	SH		DFND		62,932	0	0
MERCK & CO INC COM	COM	58933Y105	32,637	424,185	SH		DFND		402,723	0	21,462
MOHAWK INDS INC COM	COM	608190104	794	10,414	SH		DFND		10,414	0	0
MOMO INC ADR	ADR	60879B107	1,719	79,238	SH		DFND		79,238	0	0
NRG ENERGY INC COM NEW	COM NEW	629377508	1,909	70,038	SH		DFND		70,038	0	0
NEWMONT GOLDCORP CORPORATION COM	COM	651639106	1,845	40,746	SH		DFND		40,746	0	0
PUBLIC STORAGE COM	COM	74460D109	2,430	12,234	SH		DFND		12,234	0	0
SONOCO PRODS CO COM	COM	835495102	25,143	542,459	SH		DFND		515,000	0	27,459
TRACTOR SUPPLY CO COM	COM	892356106	35,900	424,597	SH		DFND		412,968	0	11,629
ULTA BEAUTY INC COM	COM	90384S303	1,512	8,604	SH		DFND		8,604	0	0
XYLEM INC COM	COM	98419M100	3,195	49,062	SH		DFND		49,062	0	0
AES CORP COM	COM	00130H105	907	66,669	SH		DFND		66,669	0	0
ALIBABA GROUP HLDG LTD SPONSORED ADS	SPONSORED ADS	01609W102	66,103	339,897	SH		DFND		339,897	0	0
ANSYS INC COM	COM	03662Q105	2,726	11,726	SH		DFND		11,726	0	0
APTARGROUP INC COM	COM	038336103	2,031	20,404	SH		DFND		20,404	0	0
BLACKSTONE GROUP INC COM CL A ADDED	CL A	09260D107	1,916	42,048	SH		DFND		42,048	0	0
BUILDERS FIRSTSOURCE INC COM	COM	12008R107	441	36,068	SH		DFND		36,068	0	0
CITIGROUP INC COM NEW	COM NEW	172967424	4,671	110,891	SH		DFND		110,891	0	0
EVERSOURCE ENERGY COM	COM	30040W108	6,830	87,332	SH		DFND		87,332	0	0
FASTENAL CO COM	COM	311900104	956	30,607	SH		DFND		30,607	0	0
LAM RESEARCH CORP COM	COM	512807108	1,118	4,657	SH		DFND		4,657	0	0
MARSH & MCLENNAN COS INC COM	COM	571748102	3,148	36,414	SH		DFND		36,414	0	0
MASTEC INC COM	COM	576323109	776	23,699	SH		DFND		23,699	0	0
MOBILE TELESYSTEMS PJSC SPONSORED ADR	SPONSORED ADR	607409109	4,060	534,161	SH		DFND		534,161	0	0
MONDELEZ INTL INC CL A	CL A	609207105	2,115	42,235	SH		DFND		42,235	0	0
SALESFORCE COM INC COM	COM	79466L302	5,353	37,177	SH		DFND		37,177	0	0
URBAN OUTFITTERS INC COM	COM	917047102	241	16,918	SH		DFND		16,918	0	0
ALTRIA GROUP INC COM	COM	02209S103	3,491	90,267	SH		DFND		90,267	0	0
AMERISOURCEBERGEN CORP COM	COM	03073E105	591	6,683	SH		DFND		6,683	0	0
AXSOME THERAPEUTICS INC COM	COM	05464T104	935	15,891	SH		DFND		15,891	0	0
BROOKFIELD ASSET MGMT INC CL A LTD VT SH	VT SH	112585104	1,059	24,168	SH		DFND		24,168	0	0
CBRE GROUP INC CL A	CL A	12504L109	4,720	125,157	SH		DFND		125,157	0	0
CGI INC CL A SUB VTG	SUB VTG	12532H104	2,411	45,043	SH		DFND		45,043	0	0
CABOT OIL & GAS CORP COM	COM	127097103	1,248	72,589	SH		DFND		72,589	0	0
COGNIZANT TECHNOLOGY SOLUTIO CL A	CL A	192446102	5,000	107,606	SH		DFND		107,606	0	0
DELEK US HLDGS INC NEW COM	COM	24665A103	642	40,731	SH		DFND		40,731	0	0
FIDELITY NATL INFORMATION SV COM	COM	31620M106	1,354	11,129	SH		DFND		11,129	0	0
HUMANA INC COM	COM	444859102	925	2,946	SH		DFND		2,946	0	0
INSULET CORP COM	COM	45784P101	1,220	7,366	SH		DFND		7,366	0	0
JETBLUE AWYS CORP COM	COM	477143101	410	45,839	SH		DFND		45,839	0	0
JONES LANG LASALLE INC COM	COM	48020Q107	4,609	45,643	SH		DFND		45,643	0	0
METLIFE INC COM	COM	59156R108	1,791	58,586	SH		DFND		58,586	0	0
MOLINA HEALTHCARE INC COM	COM	60855R100	3,108	22,247	SH		DFND		22,247	0	0
PIEDMONT OFFICE REALTY TR IN COM CL A	COM CL A	720190206	521	29,476	SH		DFND		29,476	0	0
REATA PHARMACEUTICALS INC CL A	CL A	75615P103	977	6,768	SH		DFND		6,768	0	0
REPUBLIC SVCS INC COM	COM	760759100	5,037	67,100	SH		DFND		67,100	0	0
ROSS STORES INC COM	COM	778296103	1,773	20,392	SH		DFND		20,392	0	0
SHAW COMMUNICATIONS INC CL B CONV	CL B CONV	82028K200	641	39,973	SH		DFND		39,973	0	0
SOUTHWEST AIRLS CO COM	COM	844741108	527	14,798	SH		DFND		14,798	0	0
SYNNEX CORP COM	COM	87162W100	2,606	35,655	SH		DFND		35,655	0	0
TAIWAN SEMICONDUCTOR MFG LTD SPONSORED ADS	SPONSORED ADR	874039100	4,451	93,144	SH		DFND		93,144	0	0
TECH DATA CORP COM	COM	878237106	599	4,580	SH		DFND		4,580	0	0
APPLE HOSPITALITY REIT INC COM NEW	COM NEW	03784Y200	1,420	154,809	SH		DFND		154,809	0	0
BEST BUY INC COM	COM	086516101	2,029	35,591	SH		DFND		35,591	0	0
CENTENE CORP DEL COM	COM	15135B101	2,185	36,781	SH		DFND		36,781	0	0
CHEMOURS CO COM	COM	163851108	442	49,785	SH		DFND		49,785	0	0
CHENIERE ENERGY INC COM NEW	COM NEW	16411R208	938	27,993	SH		DFND		27,993	0	0
DTE ENERGY CO COM	COM	233331107	23,445	246,867	SH		DFND		234,046	0	12,821
HANOVER INS GROUP INC COM	COM	410867105	1,174	12,962	SH		DFND		12,962	0	0
KELLOGG CO COM	COM	487836108	976	16,273	SH		DFND		16,273	0	0
PPL CORP COM	COM	69351T106	3,588	145,383	SH		DFND		145,383	0	0
PACWEST BANCORP DEL COM	COM	695263103	786	43,865	SH		DFND		43,865	0	0
PAYCHEX INC COM	COM	704326107	23,712	376,857	SH		DFND		360,681	0	16,176
PHILIP MORRIS INTL INC COM	COM	718172109	22,901	313,888	SH		DFND		298,009	0	15,879
QUALCOMM INC COM	COM	747525103	7,591	112,217	SH		DFND		112,217	0	0
RADIAN GROUP INC COM	COM	750236101	4,529	349,747	SH		DFND		349,747	0	0
SELECT MED HLDGS CORP COM	COM	81619Q105	401	26,751	SH		DFND		26,751	0	0
SERVICENOW INC COM	COM	81762P102	7,510	26,204	SH		DFND		26,204	0	0
TC ENERGY CORP COM	COM	87807B107	1,070	24,342	SH		DFND		24,342	0	0
THOMSON REUTERS CORP COM NEW	COM NEW	884903709	2,142	31,802	SH		DFND		31,802	0	0
TYSON FOODS INC CL A	CL A	902494103	1,872	32,344	SH		DFND		32,344	0	0
AT&T INC COM	COM	00206R102	26,682	915,323	SH		DFND		869,889	0	45,434
ALLSTATE CORP COM	COM	020002101	1,492	16,270	SH		DFND		16,270	0	0
APPLE INC COM	COM	037833100	1,893	7,446	SH		DFND		7,446	0	0
CAMPBELL SOUP CO COM	COM	134429109	2,272	49,228	SH		DFND		49,228	0	0
COPART INC COM	COM	217204106	2,090	30,507	SH		DFND		30,507	0	0
EBAY INC COM	COM	278642103	1,120	37,274	SH		DFND		37,274	0	0
EXPEDIA GROUP INC COM NEW	COM NEW	30212P303	754	13,404	SH		DFND		13,404	0	0
GENERAC HLDGS INC COM	COM	368736104	2,272	24,383	SH		DFND		24,383	0	0
IDEXX LABS INC COM	COM	45168D104	4,161	17,179	SH		DFND		17,179	0	0
KINSALE CAP GROUP INC COM	COM	49714P108	633	6,057	SH		DFND		6,057	0	0
MSC INDL DIRECT INC CL A	CL A	553530106	695	12,651	SH		DFND		12,651	0	0
PFIZER INC COM	COM	717081103	30,083	921,651	SH		DFND		873,873	0	47,778
TARGA RES CORP COM	COM	87612G101	216	31,210	SH		DFND		31,210	0	0
TECK RESOURCES LTD CL B	CL B	878742204	987	130,553	SH		DFND		130,553	0	0
VEON LTD SPONSORED ADR	ADR	91822M106	1,031	682,712	SH		DFND		682,712	0	0
WNS HOLDINGS LTD SPON ADR	SPON ADR	92932M101	1,060	24,659	SH		DFND		24,659	0	0
WASTE MGMT INC DEL COM	COM	94106L109	2,184	23,599	SH		DFND		23,599	0	0
ZOETIS INC CL A	CL A	98978V103	1,729	14,692	SH		DFND		14,692	0	0
ACCENTURE PLC IRELAND SHS CLASS A	SHS CLASS A	G1151C101	19,138	117,226	SH		DFND		117,226	0	0
AFLAC INC COM	COM	001055102	632	18,461	SH		DFND		18,461	0	0
ABBVIE INC COM	COM	00287Y109	10,758	141,203	SH		DFND		141,203	0	0
ALLISON TRANSMISSION HLDGS I COM	COM	01973R101	683	20,952	SH		DFND		20,952	0	0
AMERICAN EXPRESS CO COM	COM	025816109	2,248	26,263	SH		DFND		26,263	0	0
AUTOMATIC DATA PROCESSING IN COM	COM	053015103	2,064	15,101	SH		DFND		15,101	0	0
AUTOZONE INC COM	COM	053332102	1,727	2,041	SH		DFND		2,041	0	0
BCE INC COM NEW	COM NEW	05534B760	2,884	71,099	SH		DFND		71,099	0	0
CACI INTL INC CL A	CL A	127190304	1,225	5,803	SH		DFND		5,803	0	0
COSTCO WHSL CORP NEW COM	NEW COM	22160K105	1,503	5,271	SH		DFND		5,271	0	0
DUNKIN BRANDS GROUP INC COM	COM	265504100	512	9,645	SH		DFND		9,645	0	0
DUPONT DE NEMOURS INC COM	COM	26614N102	2,323	68,136	SH		DFND		68,136	0	0
FIDELITY NATIONAL FINANCIAL FNF GROUP COM	COM	31620R303	2,047	82,266	SH		DFND		82,266	0	0
FOOT LOCKER INC COM	COM	344849104	303	13,721	SH		DFND		13,721	0	0
METTLER TOLEDO INTERNATIONAL COM	COM	592688105	1,546	2,239	SH		DFND		2,239	0	0
NEXTERA ENERGY INC COM	COM	65339F101	1,835	7,626	SH		DFND		7,626	0	0
STARBUCKS CORP COM	COM	855244109	1,020	15,513	SH		DFND		15,513	0	0
TELEDYNE TECHNOLOGIES INC COM	COM	879360105	2,299	7,735	SH		DFND		7,735	0	0
UNITED STATES CELLULAR CORP COM	COM	911684108	1,129	38,532	SH		DFND		38,532	0	0
WASTE CONNECTIONS INC COM	COM	94106B101	1,801	23,245	SH		DFND		23,245	0	0
ALLIANCE DATA SYSTEMS CORP COM	COM	018581108	434	12,907	SH		DFND		12,907	0	0
APPLIED MATLS INC COM	COM	038222105	7,525	164,224	SH		DFND		164,224	0	0
BRISTOL MYERS SQUIBB CO COM	COM	110122108	8,282	148,587	SH		DFND		148,587	0	0
CIGNA CORP NEW COM	COM	125523100	4,157	23,464	SH		DFND		23,464	0	0
DOLLAR GEN CORP NEW COM	COM	256677105	1,281	8,485	SH		DFND		8,485	0	0
GAMING & LEISURE PPTYS INC COM	COM	36467J108	2,009	72,509	SH		DFND		72,509	0	0
GENERAL MLS INC COM	COM	370334104	3,958	75,013	SH		DFND		75,013	0	0
GENTEX CORP COM	COM	371901109	2,591	116,927	SH		DFND		116,927	0	0
GRAINGER W W INC COM	COM	384802104	1,114	4,482	SH		DFND		4,482	0	0
HP INC COM	COM	40434L105	4,482	258,181	SH		DFND		258,181	0	0
HERSHEY CO COM	COM	427866108	1,031	7,779	SH		DFND		7,779	0	0
ICICI BK LTD ADR	ADR	45104G104	867	102,000	SH		DFND		102,000	0	0
INVESTORS BANCORP INC NEW COM	NEW COM	46146L101	573	71,694	SH		DFND		71,694	0	0
JD COM INC SPON ADR CL A	CL A	47215P106	3,098	76,483	SH		DFND		76,483	0	0
LANDSTAR SYS INC COM	COM	515098101	1,887	19,687	SH		DFND		19,687	0	0
LAS VEGAS SANDS CORP COM	COM	517834107	5,307	124,969	SH		DFND		124,969	0	0
LIBERTY MEDIA CORP DELAWARE COM SER C FRMLA	COM	531229854	430	15,782	SH		DFND		15,782	0	0
MSA SAFETY INC COM	COM	553498106	884	8,735	SH		DFND		8,735	0	0
MORGAN STANLEY COM NEW	COM NEW	617446448	3,578	105,227	SH		DFND		105,227	0	0
NEVRO CORP COM	COM	64157F103	1,024	10,239	SH		DFND		10,239	0	0
OLD DOMINION FREIGHT LINE IN COM	COM	679580100	2,261	17,229	SH		DFND		17,229	0	0
PERSPECTA INC COM	COM	715347100	1,057	57,936	SH		DFND		57,936	0	0
SVB FINL GROUP COM	COM	78486Q101	2,820	18,663	SH		DFND		18,663	0	0
ALGONQUIN PWR UTILS CORP COM	COM	015857105	444	33,339	SH		DFND		33,339	0	0
BRP INC COM SUN VTG	VTG	05577W200	1,715	106,323	SH		DFND		106,323	0	0
CADENCE DESIGN SYSTEM INC COM	COM	127387108	2,857	43,260	SH		DFND		43,260	0	0
CITRIX SYS INC COM	COM	177376100	1,350	9,534	SH		DFND		9,534	0	0
COUPA SOFTWARE INC COM	COM	22266L106	1,395	9,982	SH		DFND		9,982	0	0
EVERGY INC COM	COM	30034W106	1,214	22,051	SH		DFND		22,051	0	0
INTERNATIONAL BUSINESS MACHS COM	COM	459200101	4,847	43,693	SH		DFND		43,693	0	0
KOHLS CORP COM	COM	500255104	1,587	108,794	SH		DFND		108,794	0	0
LAMB WESTON HLDGS INC COM	COM	513272104	6,049	105,935	SH		DFND		105,935	0	0
MOODYS CORP COM	COM	615369105	1,367	6,465	SH		DFND		6,465	0	0
OMNICOM GROUP INC COM	COM	681919106	2,685	48,914	SH		DFND		48,914	0	0
PEPSICO INC COM	COM	713448108	31,467	262,010	SH		DFND		249,590	0	12,420
QORVO INC COM	COM	74736K101	1,203	14,915	SH		DFND		14,915	0	0
ROGERS COMMUNICATIONS INC CL B	CL B	775109200	30,730	744,641	SH		DFND		706,725	0	37,916
ROLLINS INC COM	COM	775711104	996	27,561	SH		DFND		27,561	0	0
SEI INVESTMENTS CO COM	COM	784117103	1,190	25,678	SH		DFND		25,678	0	0
UNITED PARCEL SERVICE INC CL B	CL B	911312106	18,455	197,544	SH		DFND		187,238	0	10,306
XILINX INC COM	COM	983919101	1,363	17,491	SH		DFND		17,491	0	0
ALIGN TECHNOLOGY INC COM	COM	016255101	2,334	13,417	SH		DFND		13,417	0	0
CIMAREX ENERGY CO COM	COM	171798101	738	43,855	SH		DFND		43,855	0	0
COMCAST CORP NEW CL A	CL A	20030N101	19,752	574,510	SH		DFND		544,735	0	29,775
DELTA AIR LINES INC DEL COM NEW	COM NEW	247361702	444	15,577	SH		DFND		15,577	0	0
EDWARDS LIFESCIENCES CORP COM	COM	28176E108	3,171	16,811	SH		DFND		16,811	0	0
F5 NETWORKS INC COM	COM	315616102	1,325	12,430	SH		DFND		12,430	0	0
GRAFTECH INTL LTD COM	COM	384313508	359	44,228	SH		DFND		44,228	0	0
MANPOWERGROUP INC COM	COM	56418H100	793	14,970	SH		DFND		14,970	0	0
MARKETAXESS HLDGS INC COM	COM	57060D108	1,403	4,218	SH		DFND		4,218	0	0
MCDONALDS CORP COM	COM	580135101	1,087	6,575	SH		DFND		6,575	0	0
PNC FINL SVCS GROUP INC COM	COM	693475105	5,111	53,400	SH		DFND		53,400	0	0
SPIRIT AEROSYSTEMS HLDGS INC COM CL A	CL A	848574109	464	19,386	SH		DFND		19,386	0	0
STARWOOD PPTY TR INC COM	COM	85571B105	1,825	178,034	SH		DFND		178,034	0	0
TENET HEALTHCARE CORP COM NEW	COM NEW	88033G407	298	20,676	SH		DFND		20,676	0	0
XEROX HOLDINGS CORP COM NEW ADDED	COM NEW ADDED	98421M106	927	48,930	SH		DFND		48,930	0	0
ABBOTT LABS COM	COM	002824100	25,007	316,903	SH		DFND		301,258	0	15,645
BANK NEW YORK MELLON CORP COM	COM	064058100	2,901	86,147	SH		DFND		86,147	0	0
CAPITAL ONE FINL CORP COM	COM	14040H105	3,431	68,054	SH		DFND		68,054	0	0
CERNER CORP COM	COM	156782104	1,204	19,120	SH		DFND		19,120	0	0
CHEMED CORP NEW COM	NEW COM	16359R103	4,124	9,521	SH		DFND		9,521	0	0
DXC TECHNOLOGY CO COM	COM	23355L106	284	21,763	SH		DFND		21,763	0	0
ECOLAB INC COM	COM	278865100	2,132	13,680	SH		DFND		13,680	0	0
IQVIA HLDGS INC COM	COM	46266C105	13,214	122,514	SH		DFND		122,514	0	0
KLA CORPORATION COM NEW	COM	482480100	21,947	152,686	SH		DFND		144,982	0	7,704
KANSAS CITY SOUTHERN COM NEW	COM NEW	485170302	1,440	11,324	SH		DFND		11,324	0	0
MAGNA INTL INC COM	COM	559222401	4,676	147,949	SH		DFND		147,949	0	0
MARATHON OIL CORP COM	COM	565849106	569	173,005	SH		DFND		173,005	0	0
OPEN TEXT CORP COM	COM	683715106	1,346	38,941	SH		DFND		38,941	0	0
PEMBINA PIPELINE CORP COM	COM	706327103	3,081	166,108	SH		DFND		166,108	0	0
PRICE T ROWE GROUP INC COM	COM	74144T108	1,168	11,961	SH		DFND		11,961	0	0
PROCTER & GAMBLE CO COM	COM	742718109	26,191	238,101	SH		DFND		229,013	0	9,088
PUBLIC SVC ENTERPRISE GRP IN COM	COM	744573106	23,532	523,978	SH		DFND		497,365	0	26,613
WD-40 CO COM	COM	929236107	1,339	6,665	SH		DFND		6,665	0	0