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
ASTRAZENECA PLC SPONSORED ADR 046353108 2,446 49,198 SH   DFND   49,198 0 0
BARCLAYS PLC ADR 06738E204 171 16,700 SH   DFND   16,700 0 0
BHP GROUP PLC SPONSORED ADR 05545E209 521 9,000 SH   DFND   9,000 0 0
CARNIVAL CORP UNIT 99/99/9999 143658300 918 34,594 SH   DFND   34,594 0 0
ERICSSON ADR B SEK 10 294821608 1,306 99,000 SH   DFND   99,000 0 0
EURONAV NV SHS B38564108 3,240 354,051 SH   DFND   354,051 0 0
GALAPAGOS NV SPON ADR 36315X101 1,673 21,700 SH   DFND   21,700 0 0
GRIFOLS S A SP ADR REP B NVT 398438408 2,582 149,358 SH   DFND   149,358 0 0
HSBC HLDGS PLC SPON ADR NEW 404280406 12,414 426,000 SH   DFND   426,000 0 0
MICRO FOCUS INTL PLC SPON ADR NEW 594837403 768 100,000 SH   DFND   100,000 0 0
NATIONAL GRID PLC SPONSORED ADR NE 636274409 3,737 63,080 SH   DFND   63,080 0 0
NATWEST GROUP PLC SPONS ADR 2 ORD 639057108 1,153 214,800 SH   DFND   214,800 0 0
NOKIA CORP SPONSORED ADR 654902204 124,288 31,385,804 SH   DFND   31,385,804 0 0
ORANGE SPONSORED ADR 684060106 249 20,234 SH   DFND   20,234 0 0
PEARSON PLC SPONSORED ADR 705015105 107 10,000 SH   DFND   10,000 0 0
PERRIGO CO PLC SHS G97822103 374 9,232 SH   DFND   9,232 0 0
UBS GROUP AG SHS H42097107 1,987 127,966 SH   DFND   127,966 0 0
WPP PLC NEW ADR 92937A102 7,552 118,187 SH   DFND   118,187 0 0