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
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 FIGI (to the nearest dollar) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
AEGON LTD AMER REG 1 CERT 0076CA104   172,800 30,000 SH   DFND   30,000 0 0
ALIBABA GROUP HLDG LTD SPONSORED ADS 01609W102   4,725,940 60,972 SH   DFND   60,972 0 0
ANHEUSER BUSCH INBEV SA/NV SPONSORED ADR 03524A108   323,100 5,000 SH   DFND   5,000 0 0
ARCELORMITTAL SA LUXEMBOURG NY REGISTRY SH 03938L203   618,249 21,777 SH   DFND   21,777 0 0
ASTRAZENECA PLC SPONSORED ADR 046353108   621,034 9,221 SH   DFND   9,221 0 0
BAIDU INC SPON ADR REP A 056752108   2,030,961 17,054 SH   DFND   17,054 0 0
BARCLAYS PLC ADR 06738E204   2,176,377 276,190 SH   DFND   276,190 0 0
BILIBILI INC SPONS ADS REP Z 090040106   262,227 21,547 SH   DFND   21,547 0 0
BIO RAD LABS INC CL A 090572207   968,670 3,000 SH   DFND   3,000 0 0
BOEING CO COM 097023105   453,809 1,741 SH   DFND   1,741 0 0
BP PLC SPONSORED ADR 055622104   1,853,650 52,363 SH   DFND   52,363 0 0
CADELER A S SPON ADR 12738K109   1,710,611 92,968 SH   DFND   92,968 0 0
CNH INDL N V SHS N20944109   93,783,247 7,699,774 SH   DFND   7,699,774 0 0
CRH PLC ORD G25508105   101,131,838 1,462,288 SH   DFND   1,462,288 0 0
EQUINOR ASA SPONSORED ADR 29446M102   2,349,460 74,256 SH   DFND   74,256 0 0
EXXON MOBIL CORP COM 30231G102   279,244 2,793 SH   DFND   2,793 0 0
FERRARI N V COM N3167Y103   9,581,630 28,312 SH   DFND   28,312 0 0
FRONTLINE PLC COM M46528101   564,267 28,143 SH   DFND   28,143 0 0
GLOBAL X FDS LITHIUM BTRY ETF 37954Y855   3,561,674 69,919 SH   DFND   69,919 0 0
GRAB HOLDINGS LIMITED CLASS A ORD G4124C109   115,655 34,319 SH   DFND   34,319 0 0
HSBC HLDGS PLC SPON ADR NEW 404280406   551,385 13,601 SH   DFND   13,601 0 0
ICECURE MEDICAL LTD CAESAREA SHS NEW M53071136   16,264 15,200 SH   DFND   15,200 0 0
INFOSYS LTD SPONSORED ADR 456788108   551,400 30,000 SH   DFND   30,000 0 0
ING GROEP N.V. SPONSORED ADR 456837103   1,421,222 94,622 SH   DFND   94,622 0 0
INVESCO INDIA EXCHANGE-TRADE INDIA ETF 46137R109   243,328 9,505 SH   DFND   9,505 0 0
ISHARES INC MSCI BRAZIL ETF 464286400   15,014,411 429,474 SH   DFND   429,474 0 0
ISHARES INC MSCI STH KOR ETF 464286772   5,191,549 79,224 SH   DFND   79,224 0 0
ISHARES INC MSCI MEXICO ETF 464286822   3,971,871 58,539 SH   DFND   58,539 0 0
ISHARES INC MSCI HONG KG ETF 464286871   3,060,073 176,170 SH   DFND   176,170 0 0
ISHARES INC MSCI EMRG CHN 46434G764   36,694,829 662,242 SH   DFND   662,242 0 0
ISHARES INC MSCI TAIWAN ETF 46434G772   497,400 10,806 SH   DFND   10,806 0 0
ISHARES INC MSCI MLY ETF NEW 46434G814   2,290,304 107,779 SH   DFND   107,779 0 0
ISHARES TR CHINA LG-CAP ETF 464287184   10,860,262 451,946 SH   DFND   451,946 0 0
ISHARES TR CORE US AGGBD ET 464287226   10,355,348 104,336 SH   DFND   104,336 0 0
ISHARES TR JPMORGAN USD EMG 464288281   68,478,056 768,898 SH   DFND   768,898 0 0
ISHARES TR MSCI SAUDI ARBIA 46434V423   949,420 22,429 SH   DFND   22,429 0 0
JD.COM INC SPON ADR CL A 47215P106   2,796,985 96,815 SH   DFND   96,815 0 0
KRANESHARES TR CSI CHI INTERNET 500767306   1,704,402 63,126 SH   DFND   63,126 0 0
LI AUTO INC SPONSORED ADS 50202M102   2,213,573 59,139 SH   DFND   59,139 0 0
LINDE PLC SHS G54950103   496,959 1,210 SH   DFND   1,210 0 0
LIVENT CORP COM 53814L108   390,580 21,723 SH   DFND   21,723 0 0
LOGITECH INTL S A SHS H50430232   224,151 2,358 SH   DFND   2,358 0 0
NATWEST GROUP PLC SPONS ADR 639057207   623,568 110,758 SH   DFND   110,758 0 0
NETEASE INC SPONSORED ADS 64110W102   2,438,370 26,174 SH   DFND   26,174 0 0
NEWMONT CORP COM 651639106   2,645,566 63,918 SH   DFND   63,918 0 0
NOVARTIS AG SPONSORED ADR 66987V109   1,111,680 11,010 SH   DFND   11,010 0 0
OPKO HEALTH INC COM 68375N103   38,179 25,284 SH   DFND   25,284 0 0
RIO TINTO PLC SPONSORED ADR 767204100   2,575,274 34,586 SH   DFND   34,586 0 0
RYANAIR HOLDINGS PLC SPONSORED ADS 783513203   1,430,686 10,728 SH   DFND   10,728 0 0
SELECT SECTOR SPDR TR SBI MATERIALS 81369Y100   407,855 4,768 SH   DFND   4,768 0 0
SELECT SECTOR SPDR TR FINANCIAL 81369Y605   1,003,281 26,683 SH   DFND   26,683 0 0
SHELL PLC SPON ADS 780259305   2,988,439 45,417 SH   DFND   45,417 0 0
SONY GROUP CORP SPONSORED ADR 835699307   650,994 6,875 SH   DFND   6,875 0 0
SUMITOMO MITSUI FINL GROUP I SPONSORED ADR 86562M209   1,700,195 175,640 SH   DFND   175,640 0 0
TAIWAN SEMICONDUCTOR MFG LTD SPONSORED ADS 874039100   18,718,336 179,984 SH   DFND   179,984 0 0
TELEFONAKTIEBOLAGET LM ERICS ADR B SEK 10 294821608   419,775 66,631 SH   DFND   66,631 0 0
V F CORP COM 918204108   966,320 51,400 SH   DFND   51,400 0 0
VANECK ETF TRUST GOLD MINERS ETF 92189F106   930,300 30,000 SH   DFND   30,000 0 0
WESTROCK CO COM 96145D105   2,733,677 65,840 SH   DFND   65,840 0 0
WISDOMTREE TR INDIA ERNGS FD 97717W422   217,177 5,297 SH   DFND   5,297 0 0
XPENG INC ADS 98422D105   1,339,931 91,839 SH   DFND   91,839 0 0