Barings 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
ABBVIE INC	COM	00287Y109	289,296	1,628	SH		DFND	3	1,628	0	0
AGCO CORP	COM	001084102	2,840,483	30,386	SH		DFND	3	30,386	0	0
AGNICO EAGLE MINES LTD	COM	008474108	6,966,916	89,165	SH		DFND	3	89,165	0	0
ALPHABET INC	CAP STK CL C	02079K107	983,242	5,163	SH		DFND	3	5,163	0	0
ALPHABET INC	CAP STK CL A	02079K305	4,614,755	24,378	SH		DFND	3	24,378	0	0
AMAZON COM INC	COM	023135106	5,753,283	26,224	SH		DFND	3	26,224	0	0
AMBEV SA	SPONSORED ADR	02319V103	1,503,090	812,481	SH		DFND	3	812,481	0	0
ANGLOGOLD ASHANTI PLC	COM SHS	G0378L100	19,346,602	861,464	SH		DFND	3	861,464	0	0
AON PLC	SHS CL A	G0403H108	1,808,371	5,035	SH		DFND	3	5,035	0	0
APPLE INC	COM	037833100	4,370,330	17,452	SH		DFND	3	17,452	0	0
ARCHER DANIELS MIDLAND CO	COM	039483102	1,969,421	38,983	SH		DFND	3	38,983	0	0
AXON ENTERPRISE INC	COM	05464C101	1,708,670	2,875	SH		DFND	3	2,875	0	0
BANCO BRADESCO S A	SP ADR PFD NEW	059460303	2,496,964	1,307,311	SH		DFND	3	1,307,311	0	0
BANK AMERICA CORP	COM	060505104	250,032	5,689	SH		DFND	3	5,689	0	0
BARINGS BDC, INC.	COM	06759L103	130,531,747	13,639,681	SH		SOLE		13,639,681	0	0
BARINGS CORPORATE INVS	COM	06759X107	4,476,752	219,664	SH		SOLE		219,664	0	0
BARINGS GLOBAL SHORT DURATION	COM	06760L100	214,651	13,902	SH		SOLE		13,902	0	0
BARINGS PARTN INVS TRUST	COM	06761A103	4,636,790	271,316	SH		SOLE		271,316	0	0
BBB FOODS INC	CL A COM	G0896C103	1,073,481	37,959	SH		DFND	3	37,959	0	0
BEIGENE LTD	SPONSORED ADR	07725L102	13,192,358	71,422	SH		DFND	1	71,422	0	0
BERKSHIRE HATHAWAY INC DEL	CL B NEW	084670702	496,795	1,096	SH		DFND	3	1,096	0	0
BIOLIFE SOLUTIONS INC	COM NEW	09062W204	2,370,563	91,316	SH		SOLE		91,316	0	0
BLACKROCK TCP CAPITAL CORP	COM	09259E108	4,183,605	480,322	SH		SOLE		480,322	0	0
BLOCK INC	CL A	852234103	1,263,801	14,870	SH		DFND	3	14,870	0	0
BM TECHNOLOGIES INC	CL A COM	05591L107	155,453	31,790	SH		SOLE		31,790	0	0
BROADCOM INC	COM	11135F101	754,639	3,255	SH		DFND	3	3,255	0	0
BUNGE GLOBAL SA	COM SHS	H11356104	4,388,541	56,437	SH		DFND	3	56,437	0	0
CENTRAIS ELETRICAS BRASILEIR	SPONSORED ADR	15234Q207	4,574,530	799,743	SH		DFND	3	799,743	0	0
CF INDS HLDGS INC	COM	125269100	4,333,147	50,787	SH		DFND	3	50,787	0	0
CHEVRON CORP NEW	COM	166764100	11,539,113	79,668	SH		DFND	3	79,668	0	0
CLOUDFLARE INC	CL A COM	18915M107	1,039,866	9,657	SH		DFND	3	9,657	0	0
CNH INDL N V	SHS	N20944109	4,646,603	410,115	SH		DFND	3	410,115	0	0
CONOCOPHILLIPS	COM	20825C104	10,086,482	101,709	SH		DFND	3	101,709	0	0
Contango ORE, Inc.	COM	21077F100	4,771,424	476,190	SH		SOLE		476,190	0	0
CORTEVA INC	COM	22052L104	6,215,646	109,123	SH		DFND	3	109,123	0	0
COSTCO WHSL CORP NEW	COM	22160K105	347,266	379	SH		DFND	3	379	0	0
COUPANG INC	CL A	22266T109	1,138,256	51,786	SH		DFND	3	51,786	0	0
CREDICORP LTD	COM	G2519Y108	6,367,987	34,737	SH		DFND	3	34,737	0	0
CRH PLC	ORD	G25508105	12,908,668	139,523	SH		DFND	3	139,523	0	0
CRH PLC	ORD	G25508105	31,676,257	342,372	SH		DFND	5	342,372	0	0
CRH PLC	ORD	G25508105	16,006	173	SH		SOLE		173	0	0
CURIOSITYSTREAM INC	COM CL A	23130Q107	42,733	27,930	SH		SOLE		27,930	0	0
DARLING INGREDIENTS INC	COM	237266101	5,049,255	149,874	SH		DFND	3	149,874	0	0
DEERE & CO	COM	244199105	3,983,627	9,402	SH		DFND	3	9,402	0	0
DR REDDYS LABS LTD	ADR	256135203	172,632	10,933	SH		DFND	3	10,933	0	0
ECOLAB INC	COM	278865100	5,872,762	25,063	SH		DFND	3	25,063	0	0
ELI LILLY & CO	COM	532457108	1,288,468	1,669	SH		DFND	3	1,669	0	0
ENBRIDGE INC	COM	29250N105	12,799,450	301,955	SH		DFND	3	301,955	0	0
EOG RES INC	COM	26875P101	9,816,084	80,079	SH		DFND	3	80,079	0	0
EOS ENERGY ENTERPRISES INC	COM CL A	29415C101	5,853,530	1,204,430	SH		SOLE		1,204,430	0	0
EOS ENERGY ENTERPRISES INC	COM CL A	29415C101	5,827,227	1,199,018	SH		SOLE		1,199,018	0	0
EXXON MOBIL CORP	COM	30231G102	19,657,880	182,745	SH		DFND	3	182,745	0	0
FABRINET	SHS	G3323L100	4,724,781	21,488	SH		DFND	3	21,488	0	0
FIDELITY NATL INFORMATION SV	COM	31620M106	1,368,486	16,943	SH		DFND	3	16,943	0	0
FIRST TR EXCH TRADED FD III	PFD SECS INC ETF	33739E108	2,008,366	113,467	SH		DFND	3	113,467	0	0
FIRST TR EXCH TRADED FD III	PFD SECS INC ETF	33739E108	9,199,186	519,728	SH		DFND	4	519,728	0	0
FIRST TR MORNINGSTAR DIVID L	SHS	336917109	1,879,538	46,685	SH		SOLE	4	46,685	0	0
FIRST TR MORNINGSTAR DIVID L	SHS	336917109	1,056,583	26,244	SH		DFND	4	26,244	0	0
FOMENTO ECONOMICO MEXICANO S	SPON ADR UNITS	344419106	6,852,365	80,154	SH		DFND	3	80,154	0	0
GLOBAL X FDS	X EMERGING MKT	37954Y350	10,876,483	481,900	SH		DFND	2	481,900	0	0
GLOBAL X FDS	US INFR DEV ETF	37954Y673	1,148,695	28,426	SH		DFND	3	28,426	0	0
GRAPHIC PACKAGING HLDG CO	COM	388689101	1,382,688	50,909	SH		DFND	3	50,909	0	0
HALLADOR ENERGY COMPANY	COM	40609P105	792,787	69,239	SH		SOLE		69,239	0	0
HDFC BANK LTD	SPONSORED ADS	40415F101	228,300	3,575	SH		DFND	3	3,575	0	0
HDFC BANK LTD	SPONSORED ADS	40415F101	23,113,616	361,942	SH		DFND	5	361,942	0	0
HERBALIFE LTD	NOTE 4.250% 6/1	42703MAF0	14,894,573	19,437,000	PRN		SOLE		19,437,000	0	0
HOME DEPOT INC	COM	437076102	219,390	564	SH		DFND	3	564	0	0
ICICI BANK LIMITED	ADR	45104G104	266,769	8,934	SH		DFND	3	8,934	0	0
INGREDION INC	COM	457187102	2,624,370	19,078	SH		DFND	3	19,078	0	0
INTERNATIONAL FLAVORS&FRAGRA	COM	459506101	967,083	11,438	SH		DFND	3	11,438	0	0
INVESCO EXCH TRADED FD TR II	S&P500 HDL VOL	46138E362	1,093,835	22,642	SH		DFND	3	22,642	0	0
INVESCO EXCH TRADED FD TR II	S&P500 HDL VOL	46138E362	20,607,259	426,563	SH		DFND	4	426,563	0	0
INVESCO EXCH TRADED FD TR II	S&P500 HDL VOL	46138E362	1,926,796	39,884	SH		SOLE	4	39,884	0	0
INVESCO EXCH TRADED FD TR II	NASDAQ 100 ETF	46138G649	6,493,224	30,854	SH		DFND	1	30,854	0	0
INVESCO EXCH TRADED FD TR II	NASDAQ 100 ETF	46138G649	8,838,058	41,996	SH		DFND	3	41,996	0	0
INVESCO QQQ TR	UNIT SER 1	46090E103	445,240,432	870,920	SH		DFND	2	870,920	0	0
INVESCO QQQ TR	UNIT SER 1	46090E103	11,189,291	21,887	SH		DFND	4	21,887	0	0
ISHARES INC	JP MRG EM CRP BD	464286251	659,531	14,861	SH		DFND	3	14,861	0	0
ISHARES INC	JP MRG EM CRP BD	464286251	14,058,563	316,777	SH		DFND	4	316,777	0	0
ISHARES INC	MSCI WORLD ETF	464286392	10,390,666	66,821	SH		DFND	1	66,821	0	0
ISHARES INC	MSCI WORLD ETF	464286392	28,335,366	182,221	SH		DFND	3	182,221	0	0
ISHARES INC	MSCI EURZONE ETF	464286608	5,581,400	118,250	SH		DFND	3	118,250	0	0
ISHARES INC	MSCI HONG KG ETF	464286871	7,164,316	430,031	SH		DFND	1	430,031	0	0
ISHARES INC	MSCI EMRG CHN	46434G764	570,414	10,287	SH		DFND	1	10,287	0	0
ISHARES INC	MSCI JPN ETF NEW	46434G822	890,216	13,267	SH		DFND	3	13,267	0	0
ISHARES INC	MSCI JPN ETF NEW	46434G822	1,532,765	22,843	SH		DFND	4	22,843	0	0
ISHARES TR	CORE S&P500 ETF	464287200	18,825,986	31,980	SH		DFND	1	31,980	0	0
ISHARES TR	CORE S&P500 ETF	464287200	897,254,282	1,524,180	SH		DFND	2	1,524,180	0	0
ISHARES TR	CORE S&P500 ETF	464287200	34,320,633	58,301	SH		DFND	3	58,301	0	0
ISHARES TR	CORE S&P500 ETF	464287200	159,011,298	270,115	SH		DFND	4	270,115	0	0
ISHARES TR	CORE S&P500 ETF	464287200	11,013,025	18,708	SH		SOLE	4	18,708	0	0
ISHARES TR	CORE US AGGBD ET	464287226	8,295,415	85,608	SH		DFND	4	85,608	0	0
ISHARES TR	CORE US AGGBD ET	464287226	4,006,331	41,345	SH		SOLE	4	41,345	0	0
ISHARES TR	IBOXX INV CP ETF	464287242	2,569,823	24,053	SH		DFND	1	24,053	0	0
ISHARES TR	IBOXX INV CP ETF	464287242	4,025,090	37,674	SH		DFND	3	37,674	0	0
ISHARES TR	IBOXX INV CP ETF	464287242	5,224,476	48,900	SH		SOLE		48,900	0	0
ISHARES TR	S&P 500 GRWT ETF	464287309	5,207,271	51,288	SH		SOLE	4	51,288	0	0
ISHARES TR	7-10 YR TRSY BD	464287440	1,860,371	20,123	SH		DFND	3	20,123	0	0
ISHARES TR	7-10 YR TRSY BD	464287440	52,408,703	566,887	SH		DFND	4	566,887	0	0
ISHARES TR	7-10 YR TRSY BD	464287440	814,300	8,808	SH		SOLE	4	8,808	0	0
ISHARES TR	EXPANDED TECH	464287515	1,812,172	18,100	SH		DFND	1	18,100	0	0
ISHARES TR	EXPANDED TECH	464287515	2,900,777	28,973	SH		DFND	3	28,973	0	0
ISHARES TR	EXPANDED TECH	464287515	9,202,530	91,915	SH		DFND	4	91,915	0	0
ISHARES TR	EXPANDED TECH	464287515	888,165	8,871	SH		SOLE	4	8,871	0	0
ISHARES TR	ISHARES SEMICDTR	464287523	1,717,024	7,968	SH		SOLE	4	7,968	0	0
ISHARES TR	RUS 2000 GRW ETF	464287648	444,408,471	1,544,050	SH		DFND	2	1,544,050	0	0
ISHARES TR	EUROPE ETF	464287861	894,287	17,178	SH		DFND	3	17,178	0	0
ISHARES TR	MSCI ACWI ETF	464288257	3,171,443	26,991	SH		DFND	1	26,991	0	0
ISHARES TR	IBOXX HI YD ETF	464288513	7,865	100	SH		SOLE		100	0	0
ISHARES TR	MBS ETF	464288588	742,608	8,100	SH		SOLE		8,100	0	0
ISHARES TR	ISHS 1-5YR INVS	464288646	353,629,396	6,840,027	SH		SOLE		6,840,027	0	0
ISHARES TR	FLTG RATE NT ETF	46429B655	44,265,600	870,000	SH		SOLE		870,000	0	0
ISHARES TR	MSCI CHINA ETF	46429B671	735,093	15,687	SH		DFND	1	15,687	0	0
ISHARES TR	MSCI USA QLT FCT	46432F339	1,304,436	7,325	SH		DFND	3	7,325	0	0
ISHARES TR	MSCI USA QLT FCT	46432F339	28,840,412	161,952	SH		DFND	4	161,952	0	0
ISHARES TR	MSCI USA QLT FCT	46432F339	11,030,453	61,941	SH		SOLE	4	61,941	0	0
ISHARES TR	0-5YR INVT GR CP	46434V100	392,150	7,884	SH		DFND	1	7,884	0	0
ISHARES TR	CORE MSCI EURO	46434V738	2,431,313	45,041	SH		DFND	1	45,041	0	0
ISHARES TR	ESG AWRE USD ETF	46435G193	29,966,976	1,318,969	SH		DFND	4	1,318,969	0	0
ISHARES TR	ESG AWR US AGRGT	46435U549	2,828,614	60,909	SH		DFND	4	60,909	0	0
ITAU UNIBANCO HLDG S A	SPON ADR REP PFD	465562106	6,829,231	1,376,861	SH		DFND	3	1,376,861	0	0
ITRON INC	NOTE3/1	465741AN6	5,175,000	5,000,000	PRN		SOLE		5,000,000	0	0
JOHNSON & JOHNSON	COM	478160104	310,644	2,148	SH		DFND	3	2,148	0	0
JPMORGAN CHASE & CO.	COM	46625H100	438,430	1,829	SH		DFND	3	1,829	0	0
KE HLDGS INC	SPONSORED ADS	482497104	22,765,812	1,235,929	SH		DFND	1	1,235,929	0	0
KE HLDGS INC	SPONSORED ADS	482497104	32,824	1,782	SH		DFND	3	1,782	0	0
LAMB WESTON HLDGS INC	COM	513272104	2,221,964	33,248	SH		DFND	3	33,248	0	0
LI AUTO INC	SPONSORED ADS	50202M102	4,259,017	177,533	SH		DFND	3	177,533	0	0
LIFE360 INC	COM	532206109	556,031	13,473	SH		DFND	3	13,473	0	0
LINDE PLC	SHS	G54950103	19,104,331	45,631	SH		DFND	3	45,631	0	0
MASTERCARD INCORPORATED	CL A	57636Q104	319,628	607	SH		DFND	3	607	0	0
MCDONALDS CORP	COM	580135101	1,346,539	4,645	SH		DFND	3	4,645	0	0
META PLATFORMS INC	CL A	30303M102	1,302,174	2,224	SH		DFND	3	2,224	0	0
MICROSOFT CORP	COM	594918104	5,414,589	12,846	SH		DFND	3	12,846	0	0
MoneyLion Inc.	COM CL A	60938K304	5,815,996	67,620	SH		SOLE		67,620	0	0
MOSAIC CO NEW	COM	61945C103	2,975,999	121,074	SH		DFND	3	121,074	0	0
NEBIUS GROUP N.V.	SHS CLASS A	N97284108	0	90,661	SH		DFND	3	90,661	0	0
NETFLIX INC	COM	64110L106	432,290	485	SH		DFND	3	485	0	0
NEW ORIENTAL ED & TECHNOLOGY	SPON ADR	647581206	14,835,977	231,162	SH		DFND	1	231,162	0	0
NEWMONT CORP	COM	651639106	2,706,787	72,724	SH		DFND	3	72,724	0	0
NU HLDGS LTD	ORD SHS CL A	G6683N103	9,536,960	920,556	SH		DFND	3	920,556	0	0
NUCOR CORP	COM	670346105	6,447,294	55,242	SH		DFND	3	55,242	0	0
NUTRIEN LTD	COM	67077M108	5,844,609	130,607	SH		DFND	3	130,607	0	0
NVIDIA CORPORATION	COM	67066G104	4,833,500	35,993	SH		DFND	3	35,993	0	0
PAN AMERN SILVER CORP	COM	697900108	4,122,292	203,872	SH		DFND	3	203,872	0	0
PAYLOCITY HLDG CORP	COM	70438V106	803,665	4,029	SH		DFND	3	4,029	0	0
PDD HOLDINGS INC	SPONSORED ADS	722304102	71,445,841	736,631	SH		DFND	1	736,631	0	0
PDD HOLDINGS INC	SPONSORED ADS	722304102	149,268	1,539	SH		DFND	3	1,539	0	0
PETROLEO BRASILEIRO SA PETRO	SP ADR NON VTG	71654V101	8,541,992	721,452	SH		DFND	3	721,452	0	0
PETROLEO BRASILEIRO SA PETRO	SPONSORED ADR	71654V408	945,789	73,545	SH		DFND	3	73,545	0	0
POTLATCHDELTIC CORPORATION	COM	737630103	924,534	23,555	SH		DFND	3	23,555	0	0
PROCTER AND GAMBLE CO	COM	742718109	343,180	2,047	SH		DFND	3	2,047	0	0
QIAGEN NV	SHS NEW	N72482149	18,490,407	414,984	SH		DFND	3	414,984	0	0
RILEY EXPLORATION PERMIAN IN	COM	76665T102	119,764	3,752	SH		SOLE		3,752	0	0
SABRE GLBL INC	NOTE 7.320% 8/0	78573NAK8	19,158,648	16,680,000	PRN		SOLE		16,680,000	0	0
SALESFORCE INC	COM	79466L302	2,302,196	6,886	SH		DFND	3	6,886	0	0
SCHLUMBERGER LTD	COM STK	806857108	2,421,324	63,154	SH		DFND	3	63,154	0	0
SEA LTD	SPONSORD ADS	81141R100	832,885	7,850	SH		DFND	1	7,850	0	0
SEA LTD	SPONSORD ADS	81141R100	31,000,298	292,180	SH		DFND	3	292,180	0	0
SHERWIN WILLIAMS CO	COM	824348106	6,662,288	19,599	SH		DFND	3	19,599	0	0
SOCIEDAD QUIMICA Y MINERA DE	SPON ADR SER B	833635105	2,041,723	56,153	SH		DFND	3	56,153	0	0
SOUTHERN COPPER CORP	COM	84265V105	2,010,692	22,064	SH		DFND	3	22,064	0	0
SPDR S&P 500 ETF TR	TR UNIT	78462F103	34,509,563	58,882	SH		DFND	4	58,882	0	0
SUNCOR ENERGY INC NEW	COM	867224107	7,076,549	198,505	SH		DFND	3	198,505	0	0
SUNCOR ENERGY INC NEW	COM	867224107	12,707,575	356,154	SH		DFND	5	356,154	0	0
SUNCOR ENERGY INC NEW	COM	867224107	8,099	227	SH		SOLE		227	0	0
TECK RESOURCES LTD	CL B	878742204	6,051,103	149,300	SH		DFND	3	149,300	0	0
TESLA INC	COM	88160R101	520,550	1,289	SH		DFND	3	1,289	0	0
TJX COS INC NEW	COM	872540109	707,947	5,860	SH		DFND	3	5,860	0	0
TKO GROUP HOLDINGS INC	CL A	87256C101	1,327,023	9,338	SH		DFND	3	9,338	0	0
TRACTOR SUPPLY CO	COM	892356106	3,168,743	59,720	SH		DFND	3	59,720	0	0
TYSON FOODS INC	CL A	902494103	1,849,338	32,196	SH		DFND	3	32,196	0	0
UNITED RENTALS INC	COM	911363109	1,209,523	1,717	SH		DFND	3	1,717	0	0
UNITEDHEALTH GROUP INC	COM	91324P102	3,441,366	6,803	SH		DFND	3	6,803	0	0
UPSTART HLDGS INC	NOTE 0.250% 8/1	91680MAB3	9,044,000	10,000,000	PRN		SOLE		10,000,000	0	0
VALE S A	SPONSORED ADS	91912E105	7,102,174	800,696	SH		DFND	3	800,696	0	0
VALERO ENERGY CORP	COM	91913Y100	6,761,942	55,159	SH		DFND	3	55,159	0	0
VANECK ETF TRUST	BDC INCOME ETF	92189F411	1,069,658	64,321	SH		DFND	3	64,321	0	0
VANECK ETF TRUST	BDC INCOME ETF	92189F411	2,859,728	171,962	SH		SOLE	4	171,962	0	0
VANECK ETF TRUST	MRNGSTR WDE MOAT	92189F643	6,854,231	73,916	SH		DFND	4	73,916	0	0
VANECK ETF TRUST	MRNGSTR WDE MOAT	92189F643	17,296,463	186,525	SH		SOLE	4	186,525	0	0
VANGUARD INDEX FDS	S&P 500 ETF SHS	922908363	4,052,390	7,521	SH		DFND	1	7,521	0	0
VANGUARD INDEX FDS	S&P 500 ETF SHS	922908363	24,257,226	45,020	SH		DFND	3	45,020	0	0
VANGUARD INTL EQUITY INDEX F	TT WRLD ST ETF	922042742	2,810,239	23,921	SH		DFND	4	23,921	0	0
VANGUARD INTL EQUITY INDEX F	FTSE EMR MKT ETF	922042858	411,598	9,346	SH		DFND	3	9,346	0	0
VANGUARD INTL EQUITY INDEX F	FTSE EMR MKT ETF	922042858	7,312,225	166,036	SH		DFND	4	166,036	0	0
VANGUARD SCOTTSDALE FDS	SHRT TRM CORP BD	92206C409	3,231,954	41,430	SH		SOLE	4	41,430	0	0
VANGUARD SCOTTSDALE FDS	SHRT TRM CORP BD	92206C409	398,516,191	5,108,527	SH		SOLE		5,108,527	0	0
VANGUARD SCOTTSDALE FDS	LG-TERM COR BD	92206C813	1,554,601	20,789	SH		DFND	3	20,789	0	0
VANGUARD SCOTTSDALE FDS	LG-TERM COR BD	92206C813	3,874,352	51,810	SH		DFND	4	51,810	0	0
VANGUARD WHITEHALL FDS	HIGH DIV YLD	921946406	923,369	7,237	SH		DFND	3	7,237	0	0
VANGUARD WHITEHALL FDS	HIGH DIV YLD	921946406	68,797,931	539,211	SH		DFND	4	539,211	0	0
VANGUARD WHITEHALL FDS	HIGH DIV YLD	921946406	2,392,440	18,751	SH		SOLE	4	18,751	0	0
VANGUARD WORLD FD	INF TECH ETF	92204A702	1,091,881	1,756	SH		DFND	3	1,756	0	0
VANGUARD WORLD FD	INF TECH ETF	92204A702	2,301,282	3,701	SH		DFND	4	3,701	0	0
VANGUARD WORLD FD	INF TECH ETF	92204A702	8,093,971	13,017	SH		SOLE	4	13,017	0	0
Veren Inc.	COM	92340V107	2,222,964	300,807	SH		SOLE		300,807	0	0
VISA INC	COM CL A	92826C839	398,526	1,261	SH		DFND	3	1,261	0	0
WALMART INC	COM	931142103	313,605	3,471	SH		DFND	3	3,471	0	0
WEYERHAEUSER CO MTN BE	COM NEW	962166104	3,551,404	126,160	SH		DFND	3	126,160	0	0
WHEATON PRECIOUS METALS CORP	COM	962879102	10,159,129	180,720	SH		DFND	3	180,720	0	0
WHEATON PRECIOUS METALS CORP	COM	962879102	21,760,055	387,088	SH		DFND	5	387,088	0	0
WHEATON PRECIOUS METALS CORP	COM	962879102	12,648	225	SH		SOLE		225	0	0
WIPRO LTD	SPON ADR 1 SH	97651M109	120,728	34,104	SH		DFND	3	34,104	0	0
XP INC	CL A	G98239109	2,143,665	180,900	SH		DFND	3	180,900	0	0
YUM CHINA HLDGS INC	COM	98850P109	7,906,161	164,114	SH		DFND	1	164,114	0	0
YUM CHINA HLDGS INC	COM	98850P109	99,182	2,059	SH		DFND	3	2,059	0	0
YUM CHINA HLDGS INC	COM	98850P109	17,852,476	370,614	SH		DFND	5	370,614	0	0
ZTO EXPRESS CAYMAN INC	SPONSORED ADS A	98980A105	8,559,303	437,816	SH		DFND	1	437,816	0	0