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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
ABB LTD SPONSORED ADR 000375204   518,616 15,120 SH   DFND   15,120 0 0
ABCAM PLC ADS 000380204   326,284 24,241 SH   DFND   24,241 0 0
ALCON AG ORD SHS H01301128   5,895,733 83,580 SH   DFND   83,580 0 0
ALIBABA GROUP HLDG LTD SPONSORED ADS 01609W102   889,886 8,709 SH   DFND   8,709 0 0
ASML HOLDING N V N Y REGISTRY SHS N07059210   530,954 780 SH   DFND   780 0 0
ASTRAZENECA PLC SPONSORED ADR 046353108   1,704,640 24,559 SH   DFND   24,559 0 0
BHP GROUP LTD SPONSORED ADS 088606108   4,039,154 63,699 SH   DFND   63,699 0 0
BP PLC SPONSORED ADR 055622104   2,081,123 54,853 SH   DFND   54,853 0 0
CNH INDL N V SHS N20944109   19,526,772 1,278,767 SH   DFND   1,278,767 0 0
DEUTSCHE BANK A G NAMEN AKT D18190898   30,673,934 3,004,303 SH   DFND   3,004,303 0 0
EQUINOR ASA SPONSORED ADR 29446M102   474,781 16,700 SH   DFND   16,700 0 0
ERICSSON ADR B SEK 10 294821608   766,350 131,000 SH   DFND   131,000 0 0
EURONAV NV SHS B38564108   584,074 34,787 SH   DFND   34,787 0 0
FERRARI N V COM N3167Y103   2,935,093 10,833 SH   DFND   10,833 0 0
FORD MTR CO DEL COM 345370860   131,922 10,470 SH   DFND   10,470 0 0
FRONTLINE PLC COM M46528101   600,250 36,247 SH   DFND   36,247 0 0
GRIFOLS S A SP ADR REP B NVT 398438408   74,290 10,080 SH   DFND   10,080 0 0
HARMONY GOLD MINING CO LTD SPONSORED ADR 413216300   51,730 12,617 SH   DFND   12,617 0 0
ING GROEP N.V. SPONSORED ADR 456837103   510,410 43,000 SH   DFND   43,000 0 0
LINDE PLC SHS G54950103   5,100,564 14,350 SH   DFND   14,350 0 0
LOGITECH INTL S A SHS H50430232   21,726,807 374,213 SH   DFND   374,213 0 0
NOKIA CORP SPONSORED ADR 654902204   10,334,146 2,104,714 SH   DFND   2,104,714 0 0
NOVO-NORDISK A S ADR 670100205   4,459,421 28,022 SH   DFND   28,022 0 0
QIAGEN NV SHS NEW N72482123   2,219,200 48,317 SH   DFND   48,317 0 0
SHELL PLC SPON ADS 780259305   318,772 5,540 SH   DFND   5,540 0 0
STELLANTIS N.V SHS N82405106   21,943,106 1,206,328 SH   DFND   1,206,328 0 0
TAIWAN SEMICONDUCTOR MFG LTD SPONSORED ADS 874039100   755,601 8,123 SH   DFND   8,123 0 0
TELEFONICA S A SPONSORED ADR 879382208   180,304 42,127 SH   DFND   42,127 0 0
TOTALENERGIES SE SPONSORED ADS 89151E109   295,250 5,000 SH Put DFND   0 0 0
UBS GROUP AG SHS H42097107   19,448,572 911,367 SH   DFND   911,367 0 0
VANECK ETF TRUST SEMICONDUCTR ETF 92189F676   2,544,258 9,667 SH   DFND   9,667 0 0
VODAFONE GROUP PLC NEW SPONSORED ADR 92857W308   434,027 39,314 SH   DFND   39,314 0 0
WOODSIDE ENERGY GROUP LTD SPONSORED ADR 980228308   937,148 41,781 SH   DFND   41,781 0 0