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
Expires:	Oct 31, 2018
Estimated average burden
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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
ABBOTT LABS COM	COM	002824100	27,032	192,074	SH		DFND		176,639	0	15,435
ABBVIE INC COM	COM	00287Y109	14,224	105,054	SH		DFND		105,054	0	0
ABIOMED INC COM	COM	003654100	1,107	3,083	SH		DFND		3,083	0	0
ACCENTURE PLC IRELAND SHS CLASS A	SHS CLASS A	G1151C101	2,999	7,235	SH		DFND		7,235	0	0
ACUITY BRANDS INC COM	COM	00508Y102	5,369	25,357	SH		DFND		25,357	0	0
ADOBE SYSTEMS INCORPORATED COM	COM	00724F101	21,221	37,422	SH		DFND		37,422	0	0
ADVANCED DRAIN SYS INC DEL COM	COM	00790R104	1,678	12,329	SH		DFND		12,329	0	0
AGILENT TECHNOLOGIES INC COM	COM	00846U101	734	4,598	SH		DFND		4,598	0	0
AGNC INVT CORP COM	COM	00123Q104	1,730	115,051	SH		DFND		115,051	0	0
AGNICO EAGLE MINES LTD COM	COM	008474108	301	5,668	SH		DFND		5,668	0	0
ALBEMARLE CORP COM	COM	012653101	1,557	6,660	SH		DFND		6,660	0	0
ALCOA CORP COM	COM	013872106	829	13,915	SH		DFND		13,915	0	0
ALEXANDRIA REAL ESTATE EQ IN COM	COM	015271109	332	1,488	SH		DFND		1,488	0	0
ALIBABA GROUP HLDG LTD SPONSORED ADS	SPONSORED ADS	01609W102	18,102	152,384	SH		DFND		152,384	0	0
ALIGN TECHNOLOGY INC COM	COM	016255101	748	1,138	SH		DFND		1,138	0	0
ALLSTATE CORP COM	COM	020002101	32,763	278,478	SH		DFND		258,017	0	20,461
ALLY FINL INC COM	COM	02005N100	2,090	43,900	SH		DFND		43,900	0	0
ALPHABET INC CAP STK CL A	CL A	02079K305	120,166	41,479	SH		DFND		41,479	0	0
ALTRIA GROUP INC COM	COM	02209S103	1,070	22,587	SH		DFND		22,587	0	0
AMAZON COM INC COM	COM	023135106	17,302	5,189	SH		DFND		5,189	0	0
AMERICAN EXPRESS CO COM	COM	025816109	2,166	13,238	SH		DFND		13,238	0	0
AMERICAN INTL GROUP INC COM NEW	COM NEW	026874784	2,216	38,977	SH		DFND		38,977	0	0
AMERICAN TOWER CORP NEW COM	NEW COM	03027X100	1,502	5,136	SH		DFND		5,136	0	0
AMERICAN WTR WKS CO INC NEW COM	NEW COM	030420103	452	2,394	SH		DFND		2,394	0	0
AMGEN INC COM	COM	031162100	16,667	74,086	SH		DFND		74,086	0	0
ANTHEM INC COM	COM	036752103	32,994	71,179	SH		DFND		65,698	0	5,481
APPLE INC COM	COM	037833100	110,521	622,406	SH		DFND		622,406	0	0
APPLIED MATLS INC COM	COM	038222105	30,331	192,750	SH		DFND		192,750	0	0
ARCHER DANIELS MIDLAND CO COM	COM	039483102	2,866	42,399	SH		DFND		42,399	0	0
ARROW ELECTRS INC COM	COM	042735100	1,191	8,873	SH		DFND		8,873	0	0
ASTRAZENECA PLC SPONSORED ADR	SPONSORED ADR	046353108	22,069	378,865	SH		DFND		338,151	0	40,714
AT&T INC COM	COM	00206R102	2,784	113,180	SH		DFND		113,180	0	0
ATKORE INC COM	COM	047649108	4,305	38,719	SH		DFND		38,719	0	0
AUTODESK INC COM	COM	052769106	1,592	5,661	SH		DFND		5,661	0	0
AUTOMATIC DATA PROCESSING IN COM	COM	053015103	1,517	6,154	SH		DFND		6,154	0	0
AUTOZONE INC COM	COM	053332102	438	209	SH		DFND		209	0	0
AVANGRID INC COM	COM	05351W103	764	15,308	SH		DFND		15,308	0	0
AVERY DENNISON CORP COM	COM	053611109	15,926	73,537	SH		DFND		65,471	0	8,066
BAKER HUGHES COMPANY CL A	CL A	05722G100	14,303	594,474	SH		DFND		594,474	0	0
BALLARD PWR SYS INC NEW COM	COM	058586108	344	27,374	SH		DFND		27,374	0	0
BANK MONTREAL QUE COM	COM	063671101	527	4,885	SH		DFND		4,885	0	0
BANK NEW YORK MELLON CORP COM	COM	064058100	881	15,176	SH		DFND		15,176	0	0
BANK NOVA SCOTIA B C COM	COM	064149107	1,381	19,476	SH		DFND		19,476	0	0
BATH & BODY WORKS INC COM	COM ADDED	070830104	1,794	25,703	SH		DFND		25,703	0	0
BAXTER INTL INC COM	COM	071813109	397	4,626	SH		DFND		4,626	0	0
BERKSHIRE HATHAWAY INC DEL CL B NEW	CL B NEW	084670702	22,281	74,520	SH		DFND		74,520	0	0
BEST BUY INC COM	COM	086516101	514	5,058	SH		DFND		5,058	0	0
BEYOND MEAT INC COM	COM	08862E109	97	1,481	SH		DFND		1,481	0	0
BIOGEN INC COM	COM	09062X103	545	2,271	SH		DFND		2,271	0	0
BK OF AMERICA CORP COM	COM	060505104	22,370	502,811	SH		DFND		502,811	0	0
BLACKROCK INC COM	COM	09247X101	1,637	1,788	SH		DFND		1,788	0	0
BLOCK INC CL A	CL A	852234103	2,762	17,102	SH		DFND		17,102	0	0
BOOKING HOLDINGS INC COM	COM	09857L108	554	231	SH		DFND		231	0	0
BORGWARNER INC COM	COM	099724106	1,982	43,977	SH		DFND		43,977	0	0
BRISTOL-MYERS SQUIBB CO COM	COM	110122108	16,718	268,132	SH		DFND		268,132	0	0
BROOKFIELD ASSET MGMT INC CL A LTD VT SH	VT SH	112585104	1,711	28,289	SH		DFND		28,289	0	0
BUILDERS FIRSTSOURCE INC COM	COM	12008R107	975	11,375	SH		DFND		11,375	0	0
CADENCE DESIGN SYSTEM INC COM	COM	127387108	1,514	8,122	SH		DFND		8,122	0	0
CAE INC COM	COM	124765108	750	29,679	SH		DFND		29,679	0	0
CAESARS ENTERTAINMENT INC NE COM	COM	12769G100	2,009	21,475	SH		DFND		21,475	0	0
CANADIAN PAC RY LTD COM	COM	13645T100	1,334	18,523	SH		DFND		18,523	0	0
CAPITAL ONE FINL CORP COM	COM	14040H105	4,792	33,030	SH		DFND		33,030	0	0
CARLYLE GROUP INC COM	COM	14316J108	7,423	135,202	SH		DFND		135,202	0	0
CATERPILLAR INC COM	COM	149123101	755	3,650	SH		DFND		3,650	0	0
CBRE GROUP INC CL A	CL A	12504L109	8,857	81,623	SH		DFND		81,623	0	0
CERNER CORP COM	COM	156782104	487	5,242	SH		DFND		5,242	0	0
CHECK POINT SOFTWARE TECH LT ORD	ORD	M22465104	1,685	14,460	SH		DFND		14,460	0	0
CHENIERE ENERGY INC COM NEW	COM NEW	16411R208	1,737	17,122	SH		DFND		17,122	0	0
CHEVRON CORP NEW COM	NEW COM	166764100	3,967	33,809	SH		DFND		33,809	0	0
CHIPOTLE MEXICAN GRILL INC COM	COM	169656105	1,308	748	SH		DFND		748	0	0
CIGNA CORP NEW COM	COM	125523100	823	3,585	SH		DFND		3,585	0	0
CISCO SYS INC COM	COM	17275R102	48,552	766,165	SH		DFND		734,806	0	31,359
CITIGROUP INC COM NEW	COM NEW	172967424	6,079	100,659	SH		DFND		100,659	0	0
CITIZENS FINL GROUP INC COM	COM	174610105	4,327	91,571	SH		DFND		91,571	0	0
CITRIX SYS INC COM	COM	177376100	5,440	57,508	SH		DFND		57,508	0	0
CLEVELAND-CLIFFS INC NEW COM	NEW COM	185899101	689	31,655	SH		DFND		31,655	0	0
CLOROX CO DEL COM	COM	189054109	476	2,729	SH		DFND		2,729	0	0
CLOUDFLARE INC CL A COM	COM	18915M107	1,242	9,446	SH		DFND		9,446	0	0
CME GROUP INC COM	COM CL A	12572Q105	1,379	6,034	SH		DFND		6,034	0	0
CMS ENERGY CORP COM	COM	125896100	22,336	343,364	SH		DFND		306,311	0	37,053
COCA COLA CO COM	COM	191216100	44,622	753,629	SH		DFND		711,840	0	41,789
COGNIZANT TECHNOLOGY SOLUTIO CL A	CL A	192446102	2,588	29,167	SH		DFND		29,167	0	0
COLGATE PALMOLIVE CO COM	COM	194162103	16,157	189,321	SH		DFND		189,321	0	0
COMCAST CORP NEW CL A	CL A	20030N101	33,469	664,993	SH		DFND		630,464	0	34,529
CONAGRA BRANDS INC COM	COM	205887102	725	21,222	SH		DFND		21,222	0	0
CONOCOPHILLIPS COM	COM	20825C104	5,698	78,947	SH		DFND		78,947	0	0
COPART INC COM	COM	217204106	926	6,107	SH		DFND		6,107	0	0
CORNING INC COM	COM	219350105	2,144	57,575	SH		DFND		57,575	0	0
COSTCO WHSL CORP NEW COM	NEW COM	22160K105	5,347	9,419	SH		DFND		9,419	0	0
CROCS INC COM	COM	227046109	602	4,694	SH		DFND		4,694	0	0
CSX CORP COM	COM	126408103	866	23,023	SH		DFND		23,023	0	0
CUMMINS INC COM	COM	231021106	5,049	23,145	SH		DFND		23,145	0	0
CVS HEALTH CORP COM	COM	126650100	31,659	306,895	SH		DFND		283,697	0	23,198
DANAHER CORPORATION COM	COM	235851102	2,170	6,597	SH		DFND		6,597	0	0
DARLING INGREDIENTS INC COM	COM	237266101	5,270	76,055	SH		DFND		76,055	0	0
DECKERS OUTDOOR CORP COM	COM	243537107	556	1,517	SH		DFND		1,517	0	0
DEERE & CO COM	COM	244199105	21,991	64,133	SH		DFND		64,133	0	0
DELL TECHNOLOGIES INC CL C	CL C	24703L202	5,960	106,101	SH		DFND		106,101	0	0
DELTA AIR LINES INC DEL COM NEW	COM NEW	247361702	645	16,505	SH		DFND		16,505	0	0
DEVON ENERGY CORP NEW COM	COM NEW	25179M103	1,918	43,541	SH		DFND		43,541	0	0
DEXCOM INC COM	COM	252131107	1,626	3,028	SH		DFND		3,028	0	0
DIAMONDBACK ENERGY INC COM	COM	25278X109	715	6,632	SH		DFND		6,632	0	0
DICKS SPORTING GOODS INC COM	COM	253393102	688	5,979	SH		DFND		5,979	0	0
DIGITAL RLTY TR INC COM	COM	253868103	1,525	8,622	SH		DFND		8,622	0	0
DISCOVERY INC COM SER A	COM SER A	25470F104	1,307	55,503	SH		DFND		55,503	0	0
DISNEY WALT CO COM	COM DISNEY	254687106	5,918	38,208	SH		DFND		38,208	0	0
DOUGLAS EMMETT INC COM	COM	25960P109	954	28,478	SH		DFND		28,478	0	0
DROPBOX INC CL A	CL A	26210C104	1,010	41,144	SH		DFND		41,144	0	0
DTE ENERGY CO COM	COM	233331107	20,743	173,527	SH		DFND		154,738	0	18,789
EBAY INC. COM	COM	278642103	4,198	63,126	SH		DFND		63,126	0	0
ECOLAB INC COM	COM	278865100	974	4,154	SH		DFND		4,154	0	0
EDWARDS LIFESCIENCES CORP COM	COM	28176E108	24,854	191,847	SH		DFND		191,847	0	0
ELECTRONIC ARTS INC COM	COM	285512109	702	5,325	SH		DFND		5,325	0	0
EMCOR GROUP INC COM	COM	29084Q100	1,085	8,520	SH		DFND		8,520	0	0
ENPHASE ENERGY INC COM	COM	29355A107	2,567	14,033	SH		DFND		14,033	0	0
EQUINIX INC COM	COM	29444U700	710	839	SH		DFND		839	0	0
EQUITY RESIDENTIAL SH BEN INT	INT	29476L107	777	8,581	SH		DFND		8,581	0	0
ESSENTIAL UTILS INC COM	COM	29670G102	559	10,418	SH		DFND		10,418	0	0
ETSY INC COM	COM	29786A106	1,840	8,405	SH		DFND		8,405	0	0
EVERSOURCE ENERGY COM	COM	30040W108	421	4,630	SH		DFND		4,630	0	0
EXPEDITORS INTL WASH INC COM	COM	302130109	17,136	127,607	SH		DFND		127,607	0	0
EXXON MOBIL CORP COM	COM	30231G102	3,233	52,832	SH		DFND		52,832	0	0
FACTSET RESH SYS INC COM	COM	303075105	528	1,087	SH		DFND		1,087	0	0
FAIR ISAAC CORP COM	COM	303250104	4,252	9,805	SH		DFND		9,805	0	0
FASTENAL CO COM	COM	311900104	639	9,971	SH		DFND		9,971	0	0
FEDEX CORP COM	COM	31428X106	4,172	16,131	SH		DFND		16,131	0	0
FIDELITY NATL INFORMATION SV COM	COM	31620M106	625	5,724	SH		DFND		5,724	0	0
FIRST AMERN FINL CORP COM	COM	31847R102	4,217	53,900	SH		DFND		53,900	0	0
FIRST REP BK SAN FRANCISCO C COM	COM	33616C100	7,528	36,454	SH		DFND		36,454	0	0
FIRST SOLAR INC COM	COM	336433107	1,665	19,107	SH		DFND		19,107	0	0
FISERV INC COM	COM	337738108	3,387	32,633	SH		DFND		32,633	0	0
FLOWERS FOODS INC COM	COM	343498101	4,100	149,247	SH		DFND		149,247	0	0
FMC CORP COM NEW	COM NEW	302491303	2,060	18,749	SH		DFND		18,749	0	0
FORD MTR CO DEL COM	COM	345370860	5,411	260,519	SH		DFND		260,519	0	0
FOX CORP CL B COM	CL B COM	35137L204	679	19,817	SH		DFND		19,817	0	0
FREEPORT-MCMORAN INC CL B	CL B	35671D857	1,992	47,732	SH		DFND		47,732	0	0
FULGENT GENETICS INC COM	COM	359664109	4,034	40,106	SH		DFND		40,106	0	0
GAP INC COM	COM	364760108	672	38,068	SH		DFND		38,068	0	0
GENERAC HLDGS INC COM	COM	368736104	5,995	17,036	SH		DFND		17,036	0	0
GENERAL MLS INC COM	COM	370334104	3,948	58,587	SH		DFND		58,587	0	0
GENERAL MTRS CO COM	COM	37045V100	8,094	138,047	SH		DFND		138,047	0	0
GENTEX CORP COM	COM	371901109	889	25,515	SH		DFND		25,515	0	0
GILEAD SCIENCES INC COM	COM	375558103	16,027	220,726	SH		DFND		220,726	0	0
GLOBAL PMTS INC COM	COM	37940X102	587	4,339	SH		DFND		4,339	0	0
GOLDMAN SACHS GROUP INC COM	COM	38141G104	3,002	7,848	SH		DFND		7,848	0	0
GRAINGER W W INC COM	COM	384802104	4,251	8,202	SH		DFND		8,202	0	0
GRAND CANYON ED INC COM	COM	38526M106	5	57	SH		DFND		57	0	0
GROUP 1 AUTOMOTIVE INC COM	COM	398905109	4,131	21,160	SH		DFND		21,160	0	0
HALLIBURTON CO COM	COM	406216101	14,033	613,611	SH		DFND		613,611	0	0
HANESBRANDS INC COM	COM	410345102	433	25,900	SH		DFND		25,900	0	0
HARTFORD FINL SVCS GROUP INC COM	COM	416515104	1,793	25,966	SH		DFND		25,966	0	0
HASBRO INC COM	COM	418056107	538	5,282	SH		DFND		5,282	0	0
HCA HEALTHCARE INC COM	COM	40412C101	4,688	18,246	SH		DFND		18,246	0	0
HDFC BANK LTD SPONSORED ADS	SPONSORED ADS	40415F101	7,965	122,412	SH		DFND		122,412	0	0
HEALTHPEAK PROPERTIES INC COM	COM	42250P103	550	15,252	SH		DFND		15,252	0	0
HEWLETT PACKARD ENTERPRISE C COM	COM	42824C109	4,753	301,371	SH		DFND		301,371	0	0
HOLOGIC INC COM	COM	436440101	8,760	114,423	SH		DFND		114,423	0	0
HOME DEPOT INC COM	COM	437076102	32,853	79,161	SH		DFND		79,161	0	0
HORMEL FOODS CORP COM	COM	440452100	496	10,158	SH		DFND		10,158	0	0
HP INC COM	COM	40434L105	6,038	160,280	SH		DFND		160,280	0	0
HUBBELL INC COM	COM	443510607	470	2,257	SH		DFND		2,257	0	0
HUMANA INC COM	COM	444859102	3,135	6,758	SH		DFND		6,758	0	0
HUNTINGTON BANCSHARES INC COM	COM	446150104	765	49,604	SH		DFND		49,604	0	0
ICICI BANK LIMITED ADR	ADR	45104G104	12,617	637,539	SH		DFND		637,539	0	0
IDEX CORP COM	COM	45167R104	955	4,042	SH		DFND		4,042	0	0
ILLINOIS TOOL WKS INC COM	COM	452308109	816	3,308	SH		DFND		3,308	0	0
INFOSYS LTD SPONSORED ADR	ADR	456788108	2,385	94,235	SH		DFND		94,235	0	0
INGERSOLL RAND INC COM	COM	45687V106	1,890	30,551	SH		DFND		30,551	0	0
INSULET CORP COM	COM	45784P101	689	2,590	SH		DFND		2,590	0	0
INTEL CORP COM	COM	458140100	13,270	257,673	SH		DFND		257,673	0	0
INTERCONTINENTAL EXCHANGE IN COM	COM	45866F104	5,425	39,665	SH		DFND		39,665	0	0
INTERNATIONAL BUSINESS MACHS COM	COM	459200101	24,989	186,962	SH		DFND		173,099	0	13,863
INTERNATIONAL FLAVORS&FRAGRA COM	COM	459506101	351	2,331	SH		DFND		2,331	0	0
INTERPUBLIC GROUP COS INC COM	COM	460690100	1,548	41,335	SH		DFND		41,335	0	0
INTUIT COM	COM	461202103	7,702	11,974	SH		DFND		11,974	0	0
JD.COM INC SPON ADR CL A	CL A	47215P106	3,052	43,562	SH		DFND		43,562	0	0
JOHNSON & JOHNSON COM	COM	478160104	22,079	129,064	SH		DFND		114,988	0	14,076
JONES LANG LASALLE INC COM	COM	48020Q107	5,156	19,142	SH		DFND		19,142	0	0
JPMORGAN CHASE & CO COM	COM	46625H100	37,235	235,141	SH		DFND		235,141	0	0
KELLOGG CO COM	COM	487836108	698	10,835	SH		DFND		10,835	0	0
KEURIG DR PEPPER INC COM	COM	49271V100	433	11,750	SH		DFND		11,750	0	0
KEYCORP COM	COM	493267108	1,813	78,385	SH		DFND		78,385	0	0
KEYSIGHT TECHNOLOGIES INC COM	COM	49338L103	2,392	11,582	SH		DFND		11,582	0	0
KILROY RLTY CORP COM	COM	49427F108	328	4,942	SH		DFND		4,942	0	0
KIMBERLY-CLARK CORP COM	COM	494368103	26,148	182,953	SH		DFND		168,688	0	14,265
KIRKLAND LAKE GOLD LTD COM	COM	49741E100	297	7,089	SH		DFND		7,089	0	0
KKR & CO INC COM	COM	48251W104	2,097	28,142	SH		DFND		28,142	0	0
KOHLS CORP COM	COM	500255104	646	13,080	SH		DFND		13,080	0	0
KROGER CO COM	COM	501044101	538	11,880	SH		DFND		11,880	0	0
KYNDRYL HLDGS INC COMMON STOCK ADDED	COM	50155Q100	35	1,935	SH		DFND		1,935	0	0
LABORATORY CORP AMER HLDGS COM NEW	COM NEW	50540R409	14,003	44,566	SH		DFND		44,566	0	0
LAM RESEARCH CORP COM	COM	512807108	19,165	26,649	SH		DFND		26,649	0	0
LAMB WESTON HLDGS INC COM	COM	513272104	269	4,246	SH		DFND		4,246	0	0
LEIDOS HOLDINGS INC COM	COM	525327102	513	5,767	SH		DFND		5,767	0	0
LENNAR CORP CL A	CL A	526057104	6,411	55,187	SH		DFND		55,187	0	0
LEVI STRAUSS & CO NEW CL A COM STK	CL A COM	52736R102	1,160	46,332	SH		DFND		46,332	0	0
LI AUTO INC SPONSORED ADS	SPONSORED ADS	50202M102	3,142	97,880	SH		DFND		97,880	0	0
LIBERTY MEDIA CORP DEL COM A SIRIUSXM	COM A	531229409	643	12,640	SH		DFND		12,640	0	0
LILLY ELI & CO COM	COM	532457108	37,781	136,779	SH		DFND		129,182	0	7,597
LINCOLN NATL CORP IND COM	COM	534187109	1,514	22,177	SH		DFND		22,177	0	0
LIVE NATION ENTERTAINMENT IN COM	COM	538034109	743	6,210	SH		DFND		6,210	0	0
LKQ CORP COM	COM	501889208	5,864	97,691	SH		DFND		97,691	0	0
LOUISIANA PAC CORP COM	COM	546347105	6,933	88,490	SH		DFND		88,490	0	0
LOWES COS INC COM	COM	548661107	34,389	133,042	SH		DFND		126,234	0	6,808
LULULEMON ATHLETICA INC COM	COM	550021109	4,915	12,557	SH		DFND		12,557	0	0
LUMEN TECHNOLOGIES INC COM	COM ADDED	550241103	2,118	168,747	SH		DFND		168,747	0	0
MAGNA INTL INC COM	COM	559222401	1,180	14,577	SH		DFND		14,577	0	0
MANULIFE FINL CORP COM	COM	56501R106	934	48,933	SH		DFND		48,933	0	0
MARATHON OIL CORP COM	COM	565849106	2,597	158,157	SH		DFND		158,157	0	0
MARSH & MCLENNAN COS INC COM	COM	571748102	4,905	28,221	SH		DFND		28,221	0	0
MASCO CORP COM	COM	574599106	11,434	162,827	SH		DFND		162,827	0	0
MASTEC INC COM	COM	576323109	4,310	46,711	SH		DFND		46,711	0	0
MASTERCARD INCORPORATED CL A	CL A	57636Q104	8,318	23,149	SH		DFND		23,149	0	0
MCDONALDS CORP COM	COM	580135101	432	1,611	SH		DFND		1,611	0	0
MERCADOLIBRE INC COM	COM	58733R102	279	207	SH		DFND		207	0	0
MERCK & CO INC COM	COM	58933Y105	33,875	442,000	SH		DFND		417,904	0	24,096
META PLATFORMS INC CL A	CL A	30303M102	9,438	28,060	SH		DFND		28,060	0	0
METLIFE INC COM	COM	59156R108	5,204	83,283	SH		DFND		83,283	0	0
METTLER TOLEDO INTERNATIONAL COM	COM	592688105	463	273	SH		DFND		273	0	0
MICROCHIP TECHNOLOGY INC. COM	COM	595017104	1,957	22,479	SH		DFND		22,479	0	0
MICRON TECHNOLOGY INC COM	COM	595112103	4,326	46,437	SH		DFND		46,437	0	0
MICROSOFT CORP COM	COM	594918104	152,011	451,982	SH		DFND		446,210	0	5,772
MKS INSTRS INC COM	COM	55306N104	339	1,946	SH		DFND		1,946	0	0
MOHAWK INDS INC COM	COM	608190104	1,810	9,934	SH		DFND		9,934	0	0
MONDELEZ INTL INC CL A	CL A	609207105	4,739	71,472	SH		DFND		71,472	0	0
MOODYS CORP COM	COM	615369105	5,054	12,941	SH		DFND		12,941	0	0
MORGAN STANLEY COM NEW	COM NEW	617446448	7,126	72,594	SH		DFND		72,594	0	0
MOSAIC CO NEW COM	COM	61945C103	3,610	91,869	SH		DFND		91,869	0	0
MURPHY USA INC COM	COM	626755102	787	3,949	SH		DFND		3,949	0	0
NCR CORP NEW COM	NEW COM	62886E108	721	17,938	SH		DFND		17,938	0	0
NETAPP INC COM	COM	64110D104	12,652	137,532	SH		DFND		137,532	0	0
NETEASE INC SPONSORED ADS	ADS	64110W102	5,591	54,935	SH		DFND		54,935	0	0
NETFLIX INC COM	COM	64110L106	4,473	7,425	SH		DFND		7,425	0	0
NEW YORK TIMES CO CL A	CL A	650111107	371	7,691	SH		DFND		7,691	0	0
NEWELL BRANDS INC COM	COM	651229106	587	26,892	SH		DFND		26,892	0	0
NEWMONT CORP COM	COM	651639106	1,432	23,087	SH		DFND		23,087	0	0
NIKE INC CL B	CL B	654106103	5,579	33,472	SH		DFND		33,472	0	0
NIO INC SPON ADS	ADS	62914V106	894	28,210	SH		DFND		28,210	0	0
NORTHERN TR CORP COM	COM	665859104	536	4,483	SH		DFND		4,483	0	0
NOV INC COM	COM ADDED	62955J103	1,179	87,011	SH		DFND		87,011	0	0
NRG ENERGY INC COM NEW	COM NEW	629377508	1,190	27,632	SH		DFND		27,632	0	0
NUCOR CORP COM	COM	670346105	20,173	176,721	SH		DFND		176,721	0	0
NUTRIEN LTD COM	COM	67077M108	8,056	107,031	SH		DFND		107,031	0	0
NVIDIA CORPORATION COM	COM	67066G104	40,152	136,519	SH		DFND		136,519	0	0
OCCIDENTAL PETE CORP COM	COM	674599105	1,814	62,571	SH		DFND		62,571	0	0
OKTA INC CL A	CL A	679295105	918	4,097	SH		DFND		4,097	0	0
OLIN CORP COM PAR $1	COM	680665205	650	11,295	SH		DFND		11,295	0	0
ON SEMICONDUCTOR CORP COM	COM	682189105	3,644	53,656	SH		DFND		53,656	0	0
ORACLE CORP COM	COM	68389X105	26,785	307,132	SH		DFND		307,132	0	0
ORMAT TECHNOLOGIES INC COM	COM	686688102	601	7,581	SH		DFND		7,581	0	0
OSHKOSH CORP COM	COM	688239201	764	6,782	SH		DFND		6,782	0	0
OVINTIV INC COM	COM	69047Q102	651	19,317	SH		DFND		19,317	0	0
OWENS CORNING NEW COM	NEW COM	690742101	8,905	98,396	SH		DFND		98,396	0	0
PACCAR INC COM	COM	693718108	368	4,174	SH		DFND		4,174	0	0
PAYPAL HLDGS INC COM	COM	70450Y103	1,820	9,649	SH		DFND		9,649	0	0
PEPSICO INC COM	COM	713448108	38,027	218,913	SH		DFND		207,318	0	11,595
PFIZER INC COM	COM	717081103	6,351	107,546	SH		DFND		107,546	0	0
PINDUODUO INC SPONSORED ADS	SPONSORED ADS	722304102	463	7,937	SH		DFND		7,937	0	0
PIONEER NAT RES CO COM	COM	723787107	1,681	9,244	SH		DFND		9,244	0	0
PNC FINL SVCS GROUP INC COM	COM	693475105	1,453	7,248	SH		DFND		7,248	0	0
POOL CORP COM	COM	73278L105	837	1,478	SH		DFND		1,478	0	0
POTLATCHDELTIC CORPORATION COM	COM	737630103	866	14,379	SH		DFND		14,379	0	0
PPG INDS INC COM	COM	693506107	705	4,090	SH		DFND		4,090	0	0
PPL CORP COM	COM	69351T106	2,160	71,852	SH		DFND		71,852	0	0
PRICE T ROWE GROUP INC COM	COM	74144T108	15,044	76,504	SH		DFND		76,504	0	0
PROCTER AND GAMBLE CO COM	COM	742718109	58,014	354,651	SH		DFND		339,271	0	15,380
PROLOGIS INC. COM	COM	74340W103	867	5,149	SH		DFND		5,149	0	0
PRUDENTIAL FINL INC COM	COM	744320102	3,553	32,823	SH		DFND		32,823	0	0
PTC INC COM	COM	69370C100	1,495	12,343	SH		DFND		12,343	0	0
PUBLIC SVC ENTERPRISE GRP IN COM	COM	744573106	17,967	269,245	SH		DFND		239,770	0	29,475
PULTE GROUP INC COM	COM	745867101	2,612	45,698	SH		DFND		45,698	0	0
PVH CORPORATION COM	COM	693656100	483	4,526	SH		DFND		4,526	0	0
QORVO INC COM	COM	74736K101	1,775	11,351	SH		DFND		11,351	0	0
QUALCOMM INC COM	COM	747525103	18,708	102,303	SH		DFND		102,303	0	0
QUANTA SVCS INC COM	COM	74762E102	2,140	18,663	SH		DFND		18,663	0	0
REGENERON PHARMACEUTICALS COM	COM	75886F107	23,841	37,751	SH		DFND		37,751	0	0
REGIONS FINANCIAL CORP NEW COM	COM	7591EP100	12,140	556,888	SH		DFND		556,888	0	0
RINGCENTRAL INC CL A	CL A	76680R206	486	2,596	SH		DFND		2,596	0	0
ROCKWELL AUTOMATION INC COM	COM	773903109	1,084	3,107	SH		DFND		3,107	0	0
ROGERS COMMUNICATIONS INC CL B	CL B	775109200	20,827	436,790	SH		DFND		390,537	0	46,253
ROKU INC COM CL A	CL A	77543R102	317	1,387	SH		DFND		1,387	0	0
ROYAL BK CDA COM	COM	780087102	23,908	224,946	SH		DFND		201,988	0	22,958
S&P GLOBAL INC COM	COM	78409V104	39,006	82,653	SH		DFND		78,939	0	3,714
SALESFORCE COM INC COM	COM	79466L302	8,529	33,563	SH		DFND		33,563	0	0
SAREPTA THERAPEUTICS INC COM	COM	803607100	657	7,301	SH		DFND		7,301	0	0
SBA COMMUNICATIONS CORP NEW CL A	NEW CL A	78410G104	629	1,617	SH		DFND		1,617	0	0
SCHLUMBERGER LTD COM STK	COM	806857108	15,386	513,724	SH		DFND		513,724	0	0
SCHWAB CHARLES CORP COM	COM	808513105	4,532	53,893	SH		DFND		53,893	0	0
SEA LTD SPONSORD ADS	ADS	81141R100	2,387	10,669	SH		DFND		10,669	0	0
SERVICE CORP INTL COM	COM	817565104	2,482	34,967	SH		DFND		34,967	0	0
SERVICENOW INC COM	COM	81762P102	4,514	6,954	SH		DFND		6,954	0	0
SHERWIN WILLIAMS CO COM	COM	824348106	5,472	15,539	SH		DFND		15,539	0	0
SHOPIFY INC CL A	CL A	82509L107	1,115	812	SH		DFND		812	0	0
SKYWORKS SOLUTIONS INC COM	COM	83088M102	1,456	9,383	SH		DFND		9,383	0	0
SNAP INC CL A	CL A	83304A106	1,692	35,981	SH		DFND		35,981	0	0
SNAP ON INC COM	COM	833034101	1,534	7,124	SH		DFND		7,124	0	0
SOLAREDGE TECHNOLOGIES INC COM	COM	83417M104	254	904	SH		DFND		904	0	0
SPLUNK INC COM	COM	848637104	303	2,620	SH		DFND		2,620	0	0
SS&C TECHNOLOGIES HLDGS INC COM	COM	78467J100	3,168	38,641	SH		DFND		38,641	0	0
STARBUCKS CORP COM	COM	855244109	1,418	12,120	SH		DFND		12,120	0	0
STATE STR CORP COM	COM	857477103	1,380	14,843	SH		DFND		14,843	0	0
STEEL DYNAMICS INC COM	COM	858119100	12,191	196,412	SH		DFND		196,412	0	0
SUN LIFE FINANCIAL INC. COM	COM	866796105	539	9,673	SH		DFND		9,673	0	0
SUNRUN INC COM	COM	86771W105	439	12,812	SH		DFND		12,812	0	0
SVB FINANCIAL GROUP COM	COM	78486Q101	2,061	3,039	SH		DFND		3,039	0	0
SYNOPSYS INC COM	COM	871607107	2,598	7,050	SH		DFND		7,050	0	0
SYSCO CORP COM	COM	871829107	1,120	14,260	SH		DFND		14,260	0	0
TAIWAN SEMICONDUCTOR MFG LTD SPONSORED ADS	SPONSORED ADR	874039100	15,209	126,416	SH		DFND		126,416	0	0
TANDEM DIABETES CARE INC COM NEW	COM NEW	875372203	1,269	8,433	SH		DFND		8,433	0	0
TARGET CORP COM	COM	87612E106	30,628	132,338	SH		DFND		132,338	0	0
TD SYNNEX CORPORATION COM	COM	87162W100	1,291	11,287	SH		DFND		11,287	0	0
TELUS CORPORATION COM	COM	87971M103	307	13,007	SH		DFND		13,007	0	0
TERADATA CORP DEL COM	COM	88076W103	925	21,773	SH		DFND		21,773	0	0
TESLA INC COM	COM	88160R101	9,772	9,247	SH		DFND		9,247	0	0
TEXAS INSTRS INC COM	COM	882508104	23,841	126,499	SH		DFND		126,499	0	0
TFI INTL INC COM	COM	87241L109	18,822	167,588	SH		DFND		149,631	0	17,957
THERMO FISHER SCIENTIFIC INC COM	COM	883556102	403	604	SH		DFND		604	0	0
TJX COS INC NEW COM	COM	872540109	1,190	15,669	SH		DFND		15,669	0	0
T-MOBILE US INC COM	COM	872590104	742	6,394	SH		DFND		6,394	0	0
TORONTO DOMINION BK ONT COM NEW	COM NEW	891160509	20,547	267,621	SH		DFND		267,621	0	0
TRACTOR SUPPLY CO COM	COM	892356106	8,961	37,555	SH		DFND		37,555	0	0
TRAVELERS COMPANIES INC COM	COM	89417E109	19,996	127,826	SH		DFND		115,509	0	12,317
TRIMBLE INC COM	COM	896239100	1,461	16,762	SH		DFND		16,762	0	0
TRUIST FINL CORP COM	COM	89832Q109	11,377	194,313	SH		DFND		194,313	0	0
TWILIO INC CL A	CL A	90138F102	2,341	8,888	SH		DFND		8,888	0	0
TWITTER INC COM	COM	90184L102	2,176	50,348	SH		DFND		50,348	0	0
TYSON FOODS INC CL A	CL A	902494103	25,608	293,807	SH		DFND		293,807	0	0
UNION PAC CORP COM	COM	907818108	1,660	6,588	SH		DFND		6,588	0	0
UNITED PARCEL SERVICE INC CL B	CL B	911312106	22,267	103,887	SH		DFND		95,523	0	8,364
UNITED RENTALS INC COM	COM	911363109	2,739	8,242	SH		DFND		8,242	0	0
UNITED STATES STL CORP NEW COM	NEW COM	912909108	682	28,626	SH		DFND		28,626	0	0
UNITEDHEALTH GROUP INC COM	COM	91324P102	29,756	59,259	SH		DFND		54,732	0	4,527
US FOODS HLDG CORP COM	COM	912008109	671	19,251	SH		DFND		19,251	0	0
V F CORP COM	COM	918204108	372	5,081	SH		DFND		5,081	0	0
VAIL RESORTS INC COM	COM	91879Q109	735	2,241	SH		DFND		2,241	0	0
VENTAS INC COM	COM	92276F100	871	17,037	SH		DFND		17,037	0	0
VERIZON COMMUNICATIONS INC COM	COM	92343V104	38,799	746,708	SH		DFND		707,349	0	39,359
VERTEX PHARMACEUTICALS INC COM	COM	92532F100	17,321	78,877	SH		DFND		78,877	0	0
VIACOMCBS INC CL B	CL B	92556H206	1,815	60,138	SH		DFND		60,138	0	0
VICI PPTYS INC COM	COM	925652109	2,183	72,505	SH		DFND		72,505	0	0
VISA INC COM CL A	CL A	92826C839	42,652	196,814	SH		DFND		188,112	0	8,702
VMWARE INC CL A COM	CL A COM	928563402	2,469	21,310	SH		DFND		21,310	0	0
WABTEC COM	COM	929740108	677	7,346	SH		DFND		7,346	0	0
WALGREENS BOOTS ALLIANCE INC COM	COM	931427108	686	13,148	SH		DFND		13,148	0	0
WASTE MGMT INC DEL COM	COM	94106L109	976	5,848	SH		DFND		5,848	0	0
WAYFAIR INC CL A	CL A	94419L101	1,513	7,966	SH		DFND		7,966	0	0
WELLS FARGO CO NEW COM	NEW COM	949746101	1,107	23,074	SH		DFND		23,074	0	0
WESCO INTL INC COM	COM	95082P105	729	5,539	SH		DFND		5,539	0	0
WEST FRASER TIMBER CO LTD COM	COM ADDED	952845105	9,691	101,431	SH		DFND		101,431	0	0
WESTERN DIGITAL CORP. COM	COM	958102105	2,362	36,218	SH		DFND		36,218	0	0
WESTROCK CO COM	COM	96145D105	1,625	36,621	SH		DFND		36,621	0	0
WEYERHAEUSER CO MTN BE COM NEW	COM NEW	962166104	6,970	169,249	SH		DFND		169,249	0	0
WHEATON PRECIOUS METALS CORP COM	COM	962879102	992	23,098	SH		DFND		23,098	0	0
WHIRLPOOL CORP COM	COM	963320106	1,441	6,140	SH		DFND		6,140	0	0
WIPRO LTD SPON ADR 1 SH	ADR	97651M109	4,378	448,555	SH		DFND		448,555	0	0
WORKDAY INC CL A	CL A	98138H101	1,044	3,823	SH		DFND		3,823	0	0
XPENG INC ADS	ADS	98422D105	1,056	20,978	SH		DFND		20,978	0	0
XPO LOGISTICS INC COM	COM	983793100	668	8,628	SH		DFND		8,628	0	0
XYLEM INC COM	COM	98419M100	1,930	16,096	SH		DFND		16,096	0	0
ZEBRA TECHNOLOGIES CORPORATI CL A	CL A	989207105	711	1,195	SH		DFND		1,195	0	0
ZILLOW GROUP INC CL A	CL A	98954M101	1,947	31,300	SH		DFND		31,300	0	0
ZOETIS INC CL A	CL A	98978V103	1,049	4,298	SH		DFND		4,298	0	0
ZOOM VIDEO COMMUNICATIONS IN CL A	CL A	98980L101	335	1,819	SH		DFND		1,819	0	0
ZYNGA INC CL A	CL A	98986T108	627	97,903	SH		DFND		97,903	0	0
ERKSHIRE HATHAWAY INC DEL CL A	CL A	084670108	2,253	5	SH		DFND		5	0	0