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 (x$1000) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
51JOB INC SPONSORED ADS 316827104 18,939 243,531 SH   DFND   0 243,531 0
ACM RESH INC COM CL A 00108J109 60,066 587,615 SH   DFND   0 587,615 0
ALIBABA GROUP HLDG LTD SPONSORED ADS 01609W102 55,291 243,811 SH   DFND   0 243,811 0
AMERICA MOVIL SAB DE CV SPON ADR L SHS 02364W105 6,927 461,767 SH   DFND   0 461,767 0
ARCOS DORADOS HOLDINGS INC SHS CLASS -A - G0457F107 1,700 284,687 SH   DFND   0 284,687 0
ARGENX SE SPONSORED ADR 04016X101 8,846 29,383 SH   DFND   0 29,383 0
BAIDU INC SPON ADR REP A 056752108 11,211 54,983 SH   DFND   0 54,983 0
BANCO BRADESCO S A SP ADR PFD NEW 059460303 13,698 2,670,150 SH   DFND   0 2,670,150 0
BEIGENE LTD SPONSORED ADR 07725L102 14,956 43,578 SH   DFND   0 43,578 0
BILIBILI INC SPONS ADS REP Z 090040106 3,027 24,847 SH   DFND   0 24,847 0
BRIGHT SCHOLAR ED HLDGS LTD SPONSORED ADS 109199109 20,641 4,868,227 SH   DFND   0 4,868,227 0
BURNING ROCK BIOTECH LTD SPONSORED ADS 12233L107 2,419 82,105 SH   DFND   0 82,105 0
CANAAN INC SPONSORED ADS 134748102 8,073 990,561 SH   DFND   0 990,561 0
COUPANG INC CL A 22266T109 9,514 227,498 SH   DFND   0 227,498 0
DADA NEXUS LTD ADS 23344D108 7,946 273,908 SH   DFND   0 273,908 0
DESPEGAR COM CORP ORD SHS G27358103 859 65,016 SH   DFND   0 65,016 0
DIDI GLOBAL INC SPONSORED ADS 23292E108 21,562 1,524,915 SH   DFND   0 1,524,915 0
FOMENTO ECONOMICO MEXICANO S SPON ADR UNITS 344419106 5,494 65,005 SH   DFND   0 65,005 0
FUTU HLDGS LTD SPON ADS CL A 36118L106 11,006 61,454 SH   DFND   0 61,454 0
GDS HLDGS LTD SPONSORED ADS 36165L108 19,332 246,303 SH   DFND   0 246,303 0
GENETRON HLDGS LTD ADS 37186H100 6,577 326,575 SH   DFND   0 326,575 0
GRAFTECH INTL LTD COM 384313508 30,248 2,603,083 SH   DFND   0 2,603,083 0
HDFC BANK LTD SPONSORED ADS 40415F101 15,529 212,371 SH   DFND   0 212,371 0
HUYA INC ADS REP SHS A 44852D108 1,824 103,371 SH   DFND   0 103,371 0
I MAB SPONSORED ADS 44975P103 25,957 309,195 SH   DFND   0 309,195 0
JD.COM INC SPON ADR CL A 47215P106 10,603 132,858 SH   DFND   0 132,858 0
KE HLDGS INC SPONSORED ADS 482497104 14,520 304,527 SH   DFND   0 304,527 0
LEGEND BIOTECH CORP SPONSORED ADS 52490G102 3,887 94,678 SH   DFND   0 94,678 0
LUMENTUM HLDGS INC COM 55024U109 13,166 160,501 SH   DFND   0 160,501 0
NEW ORIENTAL ED & TECHNOLOGY SPON ADR 647581107 5,761 703,426 SH   DFND   0 703,426 0
PETROLEO BRASILEIRO SA PETRO SPONSORED ADR 71654V408 12,465 1,019,177 SH   DFND   0 1,019,177 0
RLX TECHNOLOGY INC SPONSORED ADS 74969N103 15,006 1,718,915 SH   DFND   0 1,718,915 0
SEA LTD SPONSORD ADS 81141R100 22,959 83,609 SH   DFND   0 83,609 0
SENDAS DISTRIBUIDORA S A SPON ADS 81689T104 7,220 422,240 SH   DFND   0 422,240 0
TELEFONICA BRASIL SA NEW ADR 87936R205 6,800 800,046 SH   DFND   0 800,046 0
TERNIUM SA SPONSORED ADS 880890108 8,692 226,004 SH   DFND   0 226,004 0
TRIP COM GROUP LTD ADS 89677Q107 7,596 214,220 SH   DFND   0 214,220 0
YALLA GROUP LTD ADS 98459U103 10,730 536,780 SH   DFND   0 536,780 0
YATSEN HLDG LTD ADS 985194109 5,970 637,144 SH   DFND   0 637,144 0
YUM CHINA HLDGS INC COM 98850P109 16,389 247,376 SH   DFND   0 247,376 0
ZAI LAB LTD ADR 98887Q104 46,381 262,053 SH   DFND   0 262,053 0