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 297 4,248 SH   DFND 1 4,248 0 0
ABBVIE INC COM 00287Y109 315 2,944 SH   DFND 1 2,944 0 0
AFYA LTD CL A COM G01125106 400 15,829 SH   DFND 1 15,829 0 0
ALIBABA GROUP HLDG LTD SPONSORED ADS 01609W102 366,226 1,573,611 SH   DFND 1 1,573,611 0 0
ALPHABET INC CAP STK CL A 02079K305 52,639 30,034 SH   DFND 1 30,034 0 0
ALTICE USA INC CL A 02156K103 20,137 531,744 SH   DFND 1 531,744 0 0
AMAZON COM INC COM 023135106 18,187 5,584 SH   DFND 1 5,584 0 0
AMERICAN EXPRESS CO COM 025816109 4,032 33,344 SH   DFND 1 33,344 0 0
ANALOG DEVICES INC COM 032654105 233 1,577 SH   DFND 1 1,577 0 0
ANGLOGOLD ASHANTI LIMITED SPONSORED ADR 035128206 3,087 136,451 SH   DFND 1 136,451 0 0
ANTHEM INC COM 036752103 21,876 68,129 SH   DFND 1 68,129 0 0
AUTOMATIC DATA PROCESSING IN COM 053015103 292 1,658 SH   DFND 1 1,658 0 0
AVALONBAY CMNTYS INC COM 053484101 2,406 14,999 SH   DFND 1 14,999 0 0
BARRICK GOLD CORP COM 067901108 1,132 49,712 SH   DFND 1 49,712 0 0
CANADIAN PAC RY LTD COM 13645T100 18,398 53,068 SH   DFND 1 53,068 0 0
CAPITAL ONE FINL CORP COM 14040H105 8,732 88,331 SH   DFND 1 88,331 0 0
CAPRI HOLDINGS LIMITED SHS G1890L107 24,777 589,922 SH   DFND 1 589,922 0 0
CHARTER COMMUNICATIONS INC N CL A 16119P108 49,243 74,436 SH   DFND 1 74,436 0 0
CITIGROUP INC COM NEW 172967424 500 8,108 SH   DFND 1 8,108 0 0
CME GROUP INC COM 12572Q105 2,208 12,128 SH   DFND 1 12,128 0 0
COMCAST CORP NEW CL A 20030N101 4,017 76,661 SH   DFND 1 76,661 0 0
COMPANHIA BRASILEIRA DE DIST SPONSORED ADR 20440T300 115,194 8,044,306 SH   DFND 1 8,044,306 0 0
CONSTELLATION BRANDS INC CL A 21036P108 505 2,304 SH   DFND 1 2,304 0 0
DISNEY WALT CO COM 254687106 2,404 13,269 SH   DFND 1 13,269 0 0
FACEBOOK INC CL A 30303M102 38,544 141,105 SH   DFND 1 141,105 0 0
FISERV INC COM 337738108 23,109 202,962 SH   DFND 1 202,962 0 0
FOMENTO ECONOMICO MEXICANO S SPON ADR UNITS 344419106 151,285 1,996,634 SH   DFND 1 1,996,634 0 0
HDFC BANK LTD SPONSORED ADS 40415F101 97,798 1,353,412 SH   DFND 1 1,353,412 0 0
INFOSYS LTD SPONSORED ADR 456788108 87,027 5,134,312 SH   DFND 1 5,134,312 0 0
JD.COM INC SPON ADR CL A 47215P106 371,346 4,224,644 SH   DFND 1 4,224,644 0 0
JOHNSON & JOHNSON COM 478160104 231 1,469 SH   DFND 1 1,469 0 0
LAUDER ESTEE COS INC CL A 518439104 2,283 8,578 SH   DFND 1 8,578 0 0
LIBERTY MEDIA CORP DEL COM SER C FRMLA 531229854 27,593 647,714 SH   DFND 1 647,714 0 0
LINDE PLC SHS G5494J103 238 904 SH   DFND 1 904 0 0
MAKEMYTRIP LIMITED MAURITIUS SHS V5633W109 43,849 1,484,887 SH   DFND 1 1,484,887 0 0
MASTERCARD INCORPORATED CL A 57636Q104 2,136 5,983 SH   DFND 1 5,983 0 0
MELCO RESORTS AND ENTMNT LTD ADR 585464100 116,858 6,299,645 SH   DFND 1 6,299,645 0 0
MERCADOLIBRE INC COM 58733R102 96,855 57,816 SH   DFND 1 57,816 0 0
MGM GROWTH PPTYS LLC CL A COM 55303A105 3,048 97,393 SH   DFND 1 97,393 0 0
MICRON TECHNOLOGY INC COM 595112103 9,353 124,409 SH   DFND 1 124,409 0 0
MICROSOFT CORP COM 594918104 20,226 90,937 SH   DFND 1 90,937 0 0
MOODYS CORP COM 615369105 11,671 40,212 SH   DFND 1 40,212 0 0
NETEASE INC SPONSORED ADS 64110W102 186,607 1,948,487 SH   DFND 1 1,948,487 0 0
NETFLIX INC COM 64110L106 5,928 10,963 SH   DFND 1 10,963 0 0
NEW ORIENTAL ED & TECHNOLOGY SPON ADR 647581107 94,231 507,138 SH   DFND 1 507,138 0 0
NOAH HLDGS LTD SPON ADS CL A 65487X102 30,027 628,044 SH   DFND 1 628,044 0 0
PAGSEGURO DIGITAL LTD COM CL A G68707101 54,338 955,306 SH   DFND 1 955,306 0 0
PAYPAL HLDGS INC COM 70450Y103 2,046 8,737 SH   DFND 1 8,737 0 0
PEPSICO INC COM 713448108 204 1,376 SH   DFND 1 1,376 0 0
PHILIP MORRIS INTL INC COM 718172109 149,372 1,804,227 SH   DFND 1 1,804,227 0 0
PINTEREST INC CL A 72352L106 2,712 41,153 SH   DFND 1 41,153 0 0
RYANAIR HOLDINGS PLC SPONSORED ADS 783513203 26,767 243,381 SH   DFND 1 243,381 0 0
S&P GLOBAL INC COM 78409V104 8,069 24,547 SH   DFND 1 24,547 0 0
SALESFORCE COM INC COM 79466L302 22,537 101,276 SH   DFND 1 101,276 0 0
SCHWAB CHARLES CORP COM 808513105 30,323 571,705 SH   DFND 1 571,705 0 0
SEA LTD SPONSORD ADS 81141R100 2,452 12,319 SH   DFND 1 12,319 0 0
SIMON PPTY GROUP INC NEW COM 828806109 2,533 29,705 SH   DFND 1 29,705 0 0
SPOTIFY TECHNOLOGY S A SHS L8681T102 9,549 30,347 SH   DFND 1 30,347 0 0
STONECO LTD COM CL A G85158106 24,066 286,776 SH   DFND 1 286,776 0 0
TAIWAN SEMICONDUCTOR MFG LTD SPONSORED ADS 874039100 164,947 1,512,721 SH   DFND 1 1,512,721 0 0
TENCENT MUSIC ENTMT GROUP SPON ADS 88034P109 147,463 7,664,418 SH   DFND 1 7,664,418 0 0
TRIP COM GROUP LTD ADS 89677Q107 72,013 2,134,977 SH   DFND 1 2,134,977 0 0
UDR INC COM 902653104 2,458 63,960 SH   DFND 1 63,960 0 0
UNION PAC CORP COM 907818108 17,078 82,018 SH   DFND 1 82,018 0 0
UNITEDHEALTH GROUP INC COM 91324P102 28,211 80,446 SH   DFND 1 80,446 0 0
VANGUARD SCOTTSDALE FDS SHRT TRM CORP BD 92206C409 515 6,181 SH   DFND 1 6,181 0 0
VISA INC COM CL A 92826C839 29,702 135,795 SH   DFND 1 135,795 0 0
WORLD WRESTLING ENTMT INC CL A 98156Q108 7,993 166,350 SH   DFND 1 166,350 0 0
YANDEX N V SHS CLASS A N97284108 99,617 1,431,696 SH   DFND 1 1,431,696 0 0
YOUDAO INC SPONSORED ADS 98741T104 35,627 1,342,883 SH   DFND 1 1,342,883 0 0
YUM BRANDS INC COM 988498101 3,024 27,854 SH   DFND 1 27,854 0 0
YUM CHINA HLDGS INC COM 98850P109 64,859 1,136,078 SH   DFND 1 1,136,078 0 0