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
3M CO COM 88579Y101 51 373 SH   DFND   0 0 373
AAR CORP COM 000361105 15 845 SH   DFND   0 0 845
AARONS INC COM PAR $0.50 002535300 67 2,934 SH   DFND   0 0 2,934
ABBOTT LABS COM 002824100 64 810 SH   DFND   0 0 810
ABBVIE INC COM 00287Y109 85 1,119 SH   DFND   0 0 1,119
ABIOMED INC COM 003654100 42 287 SH   DFND   0 0 287
ACCENTURE PLC IRELAND SHS CLASS A G1151C101 131 800 SH   DFND   0 0 800
ACTIVISION BLIZZARD INC COM 00507V109 796 13,391 SH   DFND   0 0 13,391
ADECOAGRO S A COM L00849106 795 204,424 SH   DFND   0 0 204,424
ADOBE SYS INC COM 00724F101 4,832 15,184 SH   DFND   0 0 15,184
AECOM COM 00766T100 40 1,325 SH   DFND   0 0 1,325
AES CORP COM 00130H105 61 4,488 SH   DFND   0 0 4,488
AFFILIATED MANAGERS GROUP COM 008252108 44 737 SH   DFND   0 0 737
AFLAC INC COM 001055102 48 1,403 SH   DFND   0 0 1,403
AGCO CORP COM 001084102 34 720 SH   DFND   0 0 720
AGILYSYS INC COM 00847J105 37 2,243 SH   DFND   0 0 2,243
AIR PRODS & CHEMS INC COM 009158106 64 321 SH   DFND   0 0 321
AKAMAI TECHNOLOGIES INC COM 00971T101 53 575 SH   DFND   0 0 575
ALASKA AIR GROUP INC COM 011659109 28 975 SH   DFND   0 0 975
ALBANY INTL CORP CL A 012348108 29 603 SH   DFND   0 0 603
ALEXANDER & BALDWIN INC NEW COM 014491104 49 4,376 SH   DFND   0 0 4,376
ALIBABA GROUP HLDG LTD SPONSORED ADS 01609W102 14,160 72,813 SH   DFND   0 0 72,813
ALIGN TECHNOLOGY INC COM 016255101 62 359 SH   DFND   0 0 359
ALLSTATE CORP COM 020002101 58 637 SH   DFND   0 0 637
ALPHABET INC CAP STK CL A 02079K305 5,110 4,398 SH   DFND   0 0 4,398
ALPHABET INC CAP STK CL C 02079K107 81 70 SH   DFND   0 0 70
ALTRIA GROUP INC COM 02209S103 181 4,684 SH   DFND   0 0 4,684
AMAZON COM INC COM 023135106 17,138 8,790 SH   DFND   0 0 8,790
AMBEV SA SPONSORED ADR 02319V103 9,737 4,233,694 SH   SOLE   999,100 0 3,234,594
AMEDISYS INC COM 023436108 75 408 SH   DFND   0 0 408
AMEREN CORP COM 023608102 160 2,192 SH   DFND   0 0 2,192
AMERICA MOVIL SAB DE CV SPON ADR L SHS 02364W105 61,593 5,228,647 SH   SOLE   1,502,153 0 3,726,494
AMERICAN ASSETS TR INC COM 024013104 63 2,529 SH   DFND   0 0 2,529
AMERICAN CAMPUS CMNTYS INC COM 024835100 54 1,959 SH   DFND   0 0 1,959
AMERICAN EQTY INVT LIFE HLD COM 025676206 26 1,403 SH   DFND   0 0 1,403
AMERICAN EXPRESS CO COM 025816109 54 628 SH   DFND   0 0 628
AMERICAN FINL GROUP INC OHIO COM 025932104 78 1,112 SH   DFND   0 0 1,112
AMERICAN PUBLIC EDUCATION IN COM 02913V103 103 4,302 SH   DFND   0 0 4,302
AMETEK INC NEW COM 031100100 65 901 SH   DFND   0 0 901
AMPHENOL CORP NEW CL A 032095101 38 517 SH   DFND   0 0 517
ANALOG DEVICES INC COM 032654105 37 408 SH   DFND   0 0 408
ANI PHARMACEUTICALS INC COM 00182C103 42 1,037 SH   DFND   0 0 1,037
ANTHEM INC COM 036752103 69 306 SH   DFND   0 0 306
APPLE INC COM 037833100 389 1,532 SH   DFND   0 0 1,532
APPLIED INDL TECHNOLOGIES IN COM 03820C105 32 702 SH   DFND   0 0 702
APTARGROUP INC COM 038336103 132 1,322 SH   DFND   0 0 1,322
ARCBEST CORP COM 03937C105 19 1,097 SH   DFND   0 0 1,097
ARCHROCK INC COM 03957W106 14 3,769 SH   DFND   0 0 3,769
ARCOS DORADOS HOLDINGS INC SHS CLASS -A - G0457F107 10,462 3,132,281 SH   DFND   0 0 3,132,281
ARROW ELECTRS INC COM 042735100 37 716 SH   DFND   0 0 716
ASBURY AUTOMOTIVE GROUP INC COM 043436104 34 610 SH   DFND   0 0 610
ASGN INC COM 00191U102 49 1,381 SH   DFND   0 0 1,381
ASSOCIATED BANC CORP COM 045487105 74 5,799 SH   DFND   0 0 5,799
ASSURANT INC COM 04621X108 81 781 SH   DFND   0 0 781
ATN INTL INC COM 00215F107 50 846 SH   DFND   0 0 846
AVALONBAY CMNTYS INC COM 053484101 91 621 SH   DFND   0 0 621
AVERY DENNISON CORP COM 053611109 84 829 SH   DFND   0 0 829
AVNET INC COM 053807103 72 2,856 SH   DFND   0 0 2,856
AZZ INC COM 002474104 28 1,010 SH   DFND   0 0 1,010
BADGER METER INC COM 056525108 74 1,381 SH   DFND   0 0 1,381
BAIDU INC SPON ADR REP A 056752108 286 2,838 SH   DFND   0 0 2,838
BANCO BRADESCO S A SP ADR PFD NEW 059460303 50,360 12,404,051 SH   SOLE   4,453,629 0 7,950,422
BANCO DE CHILE SPONSORED ADR 059520106 1,899 117,870 SH   SOLE   31,282 0 86,588
BANCO SANTANDER BRASIL S A ADS REP 1 UNIT 05967A107 28 5,400 SH   SOLE   5,400 0 0
BANCO SANTANDER CHILE NEW SP ADR REP COM 05965X109 4,927 325,627 SH   SOLE   86,267 0 239,360
BANCO SANTANDER S A SPONSORED ADR B 05969B103 3,666 1,131,506 SH   SOLE   336,423 0 795,083
BANCOLOMBIA S A SPON ADR PREF 05968L102 9,165 367,189 SH   SOLE   124,977 0 242,212
BANK AMER CORP COM 060505104 101 4,779 SH   DFND   0 0 4,779
BANK OZK COM 06417N103 24 1,414 SH   DFND   0 0 1,414
BARNES GROUP INC COM 067806109 37 889 SH   DFND   0 0 889
BAXTER INTL INC COM 071813109 69 855 SH   DFND   0 0 855
BECTON DICKINSON & CO COM 075887109 85 368 SH   DFND   0 0 368
BIOGEN INC COM 09062X103 89 280 SH   DFND   0 0 280
BLACKBAUD INC COM 09227Q100 29 521 SH   DFND   0 0 521
BLACKROCK INC COM 09247X101 55 126 SH   DFND   0 0 126
BOISE CASCADE CO DEL COM 09739D100 31 1,291 SH   DFND   0 0 1,291
BRINKS CO COM 109696104 33 636 SH   DFND   0 0 636
BROADCOM INC COM 11135F101 112 471 SH   DFND   0 0 471
BROOKLINE BANCORP INC DEL COM 11373M107 52 4,641 SH   DFND   0 0 4,641
BROWN & BROWN INC COM 115236101 64 1,776 SH   DFND   0 0 1,776
BURLINGTON STORES INC COM 122017106 1,724 10,878 SH   DFND   0 0 10,878
CABOT CORP COM 127055101 26 985 SH   DFND   0 0 985
CABOT OIL & GAS CORP COM 127097103 72 4,203 SH   DFND   0 0 4,203
CACI INTL INC CL A 127190304 93 439 SH   DFND   0 0 439
CALAVO GROWERS INC COM 128246105 66 1,141 SH   DFND   0 0 1,141
CALERES INC COM 129500104 13 2,514 SH   DFND   0 0 2,514
CAMDEN PPTY TR SH BEN INT 133131102 78 982 SH   DFND   0 0 982
CAPITAL ONE FINL CORP COM 14040H105 49 970 SH   DFND   0 0 970
CARETRUST REIT INC COM 14174T107 61 4,155 SH   DFND   0 0 4,155
CARLISLE COS INC COM 142339100 44 348 SH   DFND   0 0 348
CARTERS INC COM 146229109 28 430 SH   DFND   0 0 430
CASEYS GEN STORES INC COM 147528103 69 519 SH   DFND   0 0 519
CATHAY GEN BANCORP COM 149150104 50 2,184 SH   DFND   0 0 2,184
CBOE GLOBAL MARKETS INC COM 12503M108 68 757 SH   DFND   0 0 757
CDK GLOBAL INC COM 12508E101 76 2,302 SH   DFND   0 0 2,302
CEDAR REALTY TRUST INC COM NEW 150602209 19 19,893 SH   DFND   0 0 19,893
CELANESE CORP DEL COM 150870103 36 494 SH   DFND   0 0 494
CEMEX SAB DE CV SPON ADR NEW 151290889 6,204 2,926,419 SH   SOLE   1,000,745 0 1,925,674
CENTRAL PAC FINL CORP COM NEW 154760409 42 2,622 SH   DFND   0 0 2,622
CERNER CORP COM 156782104 130 2,068 SH   DFND   0 0 2,068
CF INDS HLDGS INC COM 125269100 45 1,639 SH   DFND   0 0 1,639
CHATHAM LODGING TR COM 16208T102 31 5,221 SH   DFND   0 0 5,221
CHEMED CORP NEW COM 16359R103 136 313 SH   DFND   0 0 313
CHEVRON CORP NEW COM 166764100 80 1,100 SH   DFND   0 0 1,100
CIMAREX ENERGY CO COM 171798101 15 906 SH   DFND   0 0 906
CINTAS CORP COM 172908105 48 277 SH   DFND   0 0 277
CISCO SYS INC COM 17275R102 102 2,600 SH   DFND   0 0 2,600
CITIZENS FINL GROUP INC COM 174610105 32 1,678 SH   DFND   0 0 1,678
CLEAN HARBORS INC COM 184496107 50 971 SH   DFND   0 0 971
CMS ENERGY CORP COM 125896100 241 4,105 SH   DFND   0 0 4,105
COGENT COMMUNICATIONS HLDGS COM NEW 19239V302 54 654 SH   DFND   0 0 654
COGNIZANT TECHNOLOGY SOLUTIO CL A 192446102 47 1,001 SH   DFND   0 0 1,001
COMCAST CORP NEW CL A 20030N101 2,138 62,174 SH   DFND   0 0 62,174
COMMERCIAL METALS CO COM 201723103 33 2,092 SH   DFND   0 0 2,092
COMMUNITY HEALTHCARE TR INC COM 20369C106 68 1,768 SH   DFND   0 0 1,768
COMMVAULT SYSTEMS INC COM 204166102 56 1,372 SH   DFND   0 0 1,372
COMPANHIA BRASILEIRA DE DIST SPN ADR PFD CL A 20440T300 10,509 833,370 SH   SOLE   321,275 0 512,095
COMPANHIA DE SANEAMENTO BASI SPONSORED ADR 20441A102 1,312 177,734 SH   SOLE   54,417 0 123,317
COMPANHIA SIDERURGICA NACION SPONSORED ADR 20440W105 2,838 2,166,094 SH   DFND   0 0 2,166,094
COMTECH TELECOMMUNICATIONS C COM NEW 205826209 18 1,365 SH   DFND   0 0 1,365
CONMED CORP COM 207410101 33 580 SH   DFND   0 0 580
CONOCOPHILLIPS COM 20825C104 31 996 SH   DFND   0 0 996
CONSOLIDATED EDISON INC COM 209115104 115 1,468 SH   DFND   0 0 1,468
CONSTELLATION BRANDS INC CL A 21036P108 66 459 SH   DFND   0 0 459
COOPER COS INC COM NEW 216648402 45 165 SH   DFND   0 0 165
COOPER TIRE & RUBR CO COM 216831107 25 1,560 SH   DFND   0 0 1,560
CORECIVIC INC COM 21871N101 47 4,180 SH   DFND   0 0 4,180
CORVEL CORP COM 221006109 48 879 SH   DFND   0 0 879
COSAN LTD SHS A G25343107 1,562 126,966 SH   DFND   0 0 126,966
COSTCO WHSL CORP NEW COM 22160K105 108 380 SH   DFND   0 0 380
CRANE CO COM 224399105 40 820 SH   DFND   0 0 820
CREDICORP LTD COM G2519Y108 17,444 121,927 SH   SOLE   32,927 0 89,000
CROWN CASTLE INTL CORP NEW COM 22822V101 138 959 SH   DFND   0 0 959
CTS CORP COM 126501105 31 1,244 SH   DFND   0 0 1,244
CUMMINS INC COM 231021106 47 346 SH   DFND   0 0 346
CURTISS WRIGHT CORP COM 231561101 41 447 SH   DFND   0 0 447
CVS HEALTH CORP COM 126650100 190 3,202 SH   DFND   0 0 3,202
DANAHER CORP DEL COM 235851102 82 589 SH   DFND   0 0 589
DARDEN RESTAURANTS INC COM 237194105 62 1,139 SH   DFND   0 0 1,139
DAVE & BUSTERS ENTMT INC COM 238337109 15 1,154 SH   DFND   0 0 1,154
DELTA AIR LINES INC DEL COM NEW 247361702 37 1,314 SH   DFND   0 0 1,314
DELUXE CORP COM 248019101 55 2,122 SH   DFND   0 0 2,122
DIAMONDBACK ENERGY INC COM 25278X109 25 937 SH   DFND   0 0 937
DIAMONDROCK HOSPITALITY CO COM 252784301 33 6,434 SH   DFND   0 0 6,434
DIME CMNTY BANCSHARES COM 253922108 37 2,708 SH   DFND   0 0 2,708
DISCOVER FINL SVCS COM 254709108 25 692 SH   DFND   0 0 692
DISNEY WALT CO COM DISNEY 254687106 10 108 SH   DFND   0 0 108
DOLLAR GEN CORP NEW COM 256677105 66 436 SH   DFND   0 0 436
DOLLAR TREE INC COM 256746108 59 800 SH   DFND   0 0 800
DOW INC COM 260557103 34 1,171 SH   DFND   0 0 1,171
DTE ENERGY CO COM 233331107 121 1,270 SH   DFND   0 0 1,270
DXC TECHNOLOGY CO COM 23355L106 20 1,503 SH   DFND   0 0 1,503
EAGLE MATERIALS INC COM 26969P108 31 528 SH   DFND   0 0 528
EAGLE PHARMACEUTICALS INC COM 269796108 69 1,495 SH   DFND   0 0 1,495
EAST WEST BANCORP INC COM 27579R104 42 1,630 SH   DFND   0 0 1,630
EASTERLY GOVT PPTYS INC COM 27616P103 84 3,416 SH   DFND   0 0 3,416
EASTMAN CHEM CO COM 277432100 37 796 SH   DFND   0 0 796
EATON CORP PLC SHS G29183103 87 1,119 SH   DFND   0 0 1,119
EBAY INC COM 278642103 71 2,369 SH   DFND   0 0 2,369
ECHO GLOBAL LOGISTICS INC COM 27875T101 38 2,241 SH   DFND   0 0 2,241
ECOLAB INC COM 278865100 103 660 SH   DFND   0 0 660
EMCOR GROUP INC COM 29084Q100 59 966 SH   DFND   0 0 966
EMERSON ELEC CO COM 291011104 53 1,118 SH   DFND   0 0 1,118
ENCOMPASS HEALTH CORP COM 29261A100 77 1,197 SH   DFND   0 0 1,197
ENCORE WIRE CORP COM 292562105 39 939 SH   DFND   0 0 939
ENOVA INTL INC COM 29357K103 68 4,661 SH   DFND   0 0 4,661
EQUINIX INC COM PAR $0.001 29444U700 122 195 SH   DFND   0 0 195
ESSEX PPTY TR INC COM 297178105 76 347 SH   DFND   0 0 347
ETHAN ALLEN INTERIORS INC COM 297602104 31 3,054 SH   DFND   0 0 3,054
EVERCORE INC CLASS A 29977A105 50 1,080 SH   DFND   0 0 1,080
EVEREST RE GROUP LTD COM G3223R108 57 294 SH   DFND   0 0 294
EVERGY INC COM 30034W106 234 4,248 SH   DFND   0 0 4,248
EVERTEC INC COM 30040P103 69 3,020 SH   DFND   0 0 3,020
EXELIXIS INC COM 30161Q104 41 2,379 SH   DFND   0 0 2,379
EXELON CORP COM 30161N101 104 2,820 SH   DFND   0 0 2,820
EXPEDIA GROUP INC COM NEW 30212P303 50 888 SH   DFND   0 0 888
F5 NETWORKS INC COM 315616102 47 437 SH   DFND   0 0 437
FACEBOOK INC CL A 30303M102 4,584 27,486 SH   DFND   0 0 27,486
FARO TECHNOLOGIES INC COM 311642102 29 658 SH   DFND   0 0 658
FEDEX CORP COM 31428X106 2,486 20,500 SH   DFND   0 0 20,500
FIDELITY NATIONAL FINANCIAL FNF GROUP COM 31620R303 945 38,000 SH   DFND   0 0 38,000
FIDELITY NATL INFORMATION SV COM 31620M106 1,796 14,763 SH   DFND   0 0 14,763
FIRST AMERN FINL CORP COM 31847R102 46 1,093 SH   DFND   0 0 1,093
FIRST BANCORP P R COM NEW 318672706 31 5,863 SH   DFND   0 0 5,863
FIRST HORIZON NATL CORP COM 320517105 33 4,134 SH   DFND   0 0 4,134
FIRSTENERGY CORP COM 337932107 108 2,687 SH   DFND   0 0 2,687
FLIR SYS INC COM 302445101 55 1,734 SH   DFND   0 0 1,734
FLOWERS FOODS INC COM 343498101 147 7,166 SH   DFND   0 0 7,166
FOMENTO ECONOMICO MEXICANO S SPON ADR UNITS 344419106 17,573 290,410 SH   SOLE   140,684 0 149,726
FORWARD AIR CORP COM 349853101 65 1,288 SH   DFND   0 0 1,288
FRANKLIN ELEC INC COM 353514102 51 1,086 SH   DFND   0 0 1,086
FRONTLINE LTD SHS NEW G3682E192 2,306 240,000 SH   DFND   0 0 240,000
GENTHERM INC COM 37253A103 42 1,343 SH   DFND   0 0 1,343
GEO GROUP INC NEW COM 36162J106 47 3,904 SH   DFND   0 0 3,904
GERDAU S A SPON ADR REP PFD 373737105 3,921 2,053,100 SH   SOLE   923,096 0 1,130,004
GIBRALTAR INDS INC COM 374689107 51 1,196 SH   DFND   0 0 1,196
GLOBAL PMTS INC COM 37940X102 1,687 11,695 SH   DFND   0 0 11,695
GOODYEAR TIRE & RUBR CO COM 382550101 29 4,901 SH   DFND   0 0 4,901
GREAT WESTN BANCORP INC COM 391416104 54 2,621 SH   DFND   0 0 2,621
HANOVER INS GROUP INC COM 410867105 71 785 SH   DFND   0 0 785
HAVERTY FURNITURE INC COM 419596101 39 3,286 SH   DFND   0 0 3,286
HAWKINS INC COM 420261109 54 1,529 SH   DFND   0 0 1,529
HCA HEALTHCARE INC COM 40412C101 88 978 SH   DFND   0 0 978
HEALTHSTREAM INC COM 42222N103 62 2,607 SH   DFND   0 0 2,607
HEARTLAND EXPRESS INC COM 422347104 65 3,489 SH   DFND   0 0 3,489
HELMERICH & PAYNE INC COM 423452101 23 1,457 SH   DFND   0 0 1,457
HENRY JACK & ASSOC INC COM 426281101 54 351 SH   DFND   0 0 351
HERSHEY CO COM 427866108 240 1,814 SH   DFND   0 0 1,814
HILL ROM HLDGS INC COM 431475102 80 792 SH   DFND   0 0 792
HMS HLDGS CORP COM 40425J101 55 2,163 SH   DFND   0 0 2,163
HOLLYFRONTIER CORP COM 436106108 26 1,080 SH   DFND   0 0 1,080
HOLOGIC INC COM 436440101 36 1,032 SH   DFND   0 0 1,032
HUBBELL INC COM 443510607 41 359 SH   DFND   0 0 359
HUMANA INC COM 444859102 90 286 SH   DFND   0 0 286
IDEX CORP COM 45167R104 52 377 SH   DFND   0 0 377
IHS MARKIT LTD SHS G47567105 52 859 SH   DFND   0 0 859
INGERSOLL-RAND PLC SHS G47791101 56 2,239 SH   DFND   0 0 2,239
INGREDION INC COM 457187102 59 785 SH   DFND   0 0 785
INNOSPEC INC COM 45768S105 28 400 SH   DFND   0 0 400
INNOVIVA INC COM 45781M101 40 3,389 SH   DFND   0 0 3,389
INTEL CORP COM 458140100 71 1,313 SH   DFND   0 0 1,313
INTERCORP FINL SVCS INC SHS P5626F128 6,819 245,999 SH   SOLE   68,481 0 177,518
INTERNATIONAL BANCSHARES COR COM 459044103 53 1,980 SH   DFND   0 0 1,980
INTUIT COM 461202103 73 316 SH   DFND   0 0 316
INVESCO QQQ TR UNIT SER 1 46090E103 11,881 62,400 SH   DFND   0 0 62,400
IQVIA HLDGS INC COM 46266C105 42 394 SH   DFND   0 0 394
ISHARES INC MSCI BRAZIL ETF 464286400 3,780 160,458 SH   DFND   0 0 160,458
ISHARES INC MSCI HONG KG ETF 464286871 11,830 593,300 SH   DFND   0 0 593,300
ISHARES INC MSCI JPN ETF NEW 46434G822 62,840 1,272,324 SH   SOLE   1,164,229 0 108,095
ISHARES INC MSCI TAIWAN ETF 46434G772 26,150 793,140 SH   DFND   0 0 793,140
ISHARES INC MSCI PAC JP ETF 464286665 268 7,900 SH   DFND   0 0 7,900
ISHARES INC MSCI CDA ETF 464286509 2,286 104,600 SH   DFND   0 0 104,600
ISHARES INC CORE MSCI EMKT 46434G103 1,934 47,800 SH   DFND   0 0 47,800
ISHARES INC MSCI EM ASIA ETF 464286426 1,765 31,000 SH   DFND   0 0 31,000
ISHARES INC MSCI GERMANY ETF 464286806 40 1,852 SH   DFND   0 0 1,852
ISHARES INC MSCI EURZONE ETF 464286608 572 18,755 SH   DFND   0 0 18,755
ISHARES TR CHINA LG-CAP ETF 464287184 15,298 407,506 SH   DFND   0 0 407,506
ISHARES TR RUSSELL 2000 ETF 464287655 3,721 32,512 SH   DFND   0 0 32,512
ISHARES TR MSCI ACWI ETF 464288257 2,140 34,200 SH   DFND   0 0 34,200
ISHARES TR MSCI EURO FL ETF 464289180 55 4,400 SH   DFND   0 0 4,400
ISHARES TR MSCI CHINA ETF 46429B671 2,748 48,000 SH   DFND   0 0 48,000
ISHARES TR JPMORGAN USD EMG 464288281 1,450 15,000 SH   DFND   0 0 15,000
ISHARES TR IBOXX INV CP ETF 464287242 15,662 126,807 SH   SOLE   126,807 0 0
ISHARES TR S&P 500 VAL ETF 464287408 2,839 29,500 SH   DFND   0 0 29,500
ISHARES TR SHORT TREAS BD 464288679 315 2,836 SH   SOLE   2,836 0 0
ISHARES TR 10-20 YR TRS ETF 464288653 39,064 233,060 SH   SOLE   184,560 0 48,500
ISHARES TR US TREAS BD ETF 46429B267 48,595 1,734,947 SH   SOLE   1,206,547 0 528,400
ISHARES TR TIPS BD ETF 464287176 370 3,134 SH   DFND   0 0 3,134
ISHARES TR FLTG RATE NT ETF 46429B655 18,434 378,212 SH   SOLE   378,212 0 0
ITAU UNIBANCO HLDG SA SPON ADR REP PFD 465562106 42,435 9,451,109 SH   SOLE   3,384,495 0 6,066,614
J & J SNACK FOODS CORP COM 466032109 58 477 SH   DFND   0 0 477
JABIL INC COM 466313103 47 1,898 SH   DFND   0 0 1,898
JETBLUE AIRWAYS CORP COM 477143101 24 2,717 SH   DFND   0 0 2,717
JOHNSON & JOHNSON COM 478160104 196 1,492 SH   DFND   0 0 1,492
KAISER ALUMINUM CORP COM PAR $0.01 483007704 39 564 SH   DFND   0 0 564
KANSAS CITY SOUTHERN COM NEW 485170302 62 491 SH   DFND   0 0 491
KAR AUCTION SVCS INC COM 48238T109 46 3,809 SH   DFND   0 0 3,809
KEYCORP NEW COM 493267108 39 3,787 SH   DFND   0 0 3,787
KNIGHT SWIFT TRANSN HLDGS IN CL A 499049104 56 1,719 SH   DFND   0 0 1,719
KOHLS CORP COM 500255104 17 1,197 SH   DFND   0 0 1,197
LA Z BOY INC COM 505336107 70 3,422 SH   DFND   0 0 3,422
LAMAR ADVERTISING CO NEW CL A 512816109 34 668 SH   DFND   0 0 668
LANDSTAR SYS INC COM 515098101 61 634 SH   DFND   0 0 634
LANTHEUS HLDGS INC COM 516544103 27 2,101 SH   DFND   0 0 2,101
LCI INDS COM 50189K103 33 489 SH   DFND   0 0 489
LINCOLN ELEC HLDGS INC COM 533900106 31 443 SH   DFND   0 0 443
LITHIA MTRS INC CL A 536797103 46 560 SH   DFND   0 0 560
LKQ CORP COM 501889208 40 1,946 SH   DFND   0 0 1,946
LOGMEIN INC COM 54142L109 55 660 SH   DFND   0 0 660
LOMA NEGRA CORP SPONSORED ADS 54150E104 2,510 706,927 SH   SOLE   154,413 0 552,514
M & T BK CORP COM 55261F104 47 456 SH   DFND   0 0 456
MADDEN STEVEN LTD COM 556269108 42 1,817 SH   DFND   0 0 1,817
MANHATTAN ASSOCS INC COM 562750109 45 900 SH   DFND   0 0 900
MANPOWERGROUP INC COM 56418H100 35 660 SH   DFND   0 0 660
MARATHON OIL CORP COM 565849106 13 3,866 SH   DFND   0 0 3,866
MARATHON PETE CORP COM 56585A102 28 1,193 SH   DFND   0 0 1,193
MARCUS CORP COM 566330106 21 1,668 SH   DFND   0 0 1,668
MARTEN TRANS LTD COM 573075108 48 2,344 SH   DFND   0 0 2,344
MATERION CORP COM 576690101 61 1,751 SH   DFND   0 0 1,751
MATRIX SVC CO COM 576853105 31 3,301 SH   DFND   0 0 3,301
MAXIMUS INC COM 577933104 88 1,518 SH   DFND   0 0 1,518
MCKESSON CORP COM 58155Q103 59 438 SH   DFND   0 0 438
MEDPACE HLDGS INC COM 58506Q109 27 373 SH   DFND   0 0 373
MEDTRONIC PLC SHS G5960L103 131 1,455 SH   DFND   0 0 1,455
MERCK & CO INC COM 58933Y105 105 1,361 SH   DFND   0 0 1,361
MERIDIAN BIOSCIENCE INC COM 589584101 81 9,641 SH   DFND   0 0 9,641
MERITAGE HOMES CORP COM 59001A102 31 845 SH   DFND   0 0 845
META FINL GROUP INC COM 59100U108 32 1,490 SH   DFND   0 0 1,490
MICRON TECHNOLOGY INC COM 595112103 28 663 SH   DFND   0 0 663
MICROSOFT CORP COM 594918104 3,354 21,268 SH   DFND   0 0 21,268
MID AMER APT CMNTYS INC COM 59522J103 106 1,027 SH   DFND   0 0 1,027
MILLER HERMAN INC COM 600544100 33 1,464 SH   DFND   0 0 1,464
MOBILE MINI INC COM 60740F105 47 1,802 SH   DFND   0 0 1,802
MONOLITHIC PWR SYS INC COM 609839105 72 432 SH   DFND   0 0 432
MORGAN STANLEY COM NEW 617446448 58 1,720 SH   DFND   0 0 1,720
MOTOROLA SOLUTIONS INC COM NEW 620076307 55 417 SH   DFND   0 0 417
MUELLER INDS INC COM 624756102 61 2,543 SH   DFND   0 0 2,543
MYERS INDS INC COM 628464109 57 5,292 SH   DFND   0 0 5,292
MYLAN N V SHS EURO N59465109 37 2,462 SH   DFND   0 0 2,462
NATIONAL BEVERAGE CORP COM 635017106 55 1,300 SH   DFND   0 0 1,300
NATIONAL STORAGE AFFILIATES COM SHS BEN IN 637870106 121 4,078 SH   DFND   0 0 4,078
NATUS MEDICAL INC DEL COM 639050103 33 1,411 SH   DFND   0 0 1,411
NEENAH INC COM 640079109 30 686 SH   DFND   0 0 686
NEWMARKET CORP COM 651587107 67 174 SH   DFND   0 0 174
NEWPARK RES INC COM PAR $.01NEW 651718504 8 8,884 SH   DFND   0 0 8,884
NEXTGEN HEALTHCARE INC COM 65343C102 36 3,432 SH   DFND   0 0 3,432
NIKE INC CL B 654106103 3,178 38,409 SH   DFND   0 0 38,409
NISOURCE INC COM 65473P105 90 3,588 SH   DFND   0 0 3,588
NOW INC COM 67011P100 17 3,388 SH   DFND   0 0 3,388
NRG ENERGY INC COM NEW 629377508 67 2,466 SH   DFND   0 0 2,466
NUCOR CORP COM 670346105 75 2,075 SH   DFND   0 0 2,075
NUVASIVE INC COM 670704105 51 1,004 SH   DFND   0 0 1,004
NVIDIA CORP COM 67066G104 437 1,658 SH   DFND   0 0 1,658
OGE ENERGY CORP COM 670837103 3 100 SH   DFND   0 0 100
OIL STS INTL INC COM 678026105 7 3,606 SH   DFND   0 0 3,606
OLD DOMINION FGHT LINES INC COM 679580100 50 382 SH   DFND   0 0 382
OLYMPIC STEEL INC COM 68162K106 30 2,877 SH   DFND   0 0 2,877
OMNICELL INC COM 68213N109 51 783 SH   DFND   0 0 783
ORTHOFIX MED INC COM 68752M108 25 904 SH   DFND   0 0 904
OSI SYSTEMS INC COM 671044105 59 861 SH   DFND   0 0 861
PACIFIC PREMIER BANCORP COM 69478X105 48 2,530 SH   DFND   0 0 2,530
PACWEST BANCORP DEL COM 695263103 45 2,539 SH   DFND   0 0 2,539
PATTERSON UTI ENERGY INC COM 703481101 13 5,442 SH   DFND   0 0 5,442
PDC ENERGY INC COM 69327R101 8 1,351 SH   DFND   0 0 1,351
PERSPECTA INC COM 715347100 49 2,662 SH   DFND   0 0 2,662
PETROLEO BRASILEIRO SA PETRO SP ADR NON VTG 71654V101 62,337 11,565,235 SH   SOLE   1,160,257 0 10,404,978
PFIZER INC COM 717081103 137 4,193 SH   DFND   0 0 4,193
PIONEER NAT RES CO COM 723787107 48 686 SH   DFND   0 0 686
PNC FINL SVCS GROUP INC COM 693475105 52 541 SH   DFND   0 0 541
POWELL INDS INC COM 739128106 27 1,061 SH   DFND   0 0 1,061
PPG INDS INC COM 693506107 41 489 SH   DFND   0 0 489
PRESTIGE CONSMR HEALTHCARE I COM 74112D101 45 1,229 SH   DFND   0 0 1,229
PROCTER AND GAMBLE CO COM 742718109 187 1,698 SH   DFND   0 0 1,698
PROGRESS SOFTWARE CORP COM 743312100 55 1,719 SH   DFND   0 0 1,719
PROGRESSIVE CORP OHIO COM 743315103 1,477 20,002 SH   DFND   0 0 20,002
PROPETRO HLDG CORP COM 74347M108 10 3,973 SH   DFND   0 0 3,973
PROVIDENCE SVC CORP COM 743815102 69 1,264 SH   DFND   0 0 1,264
PROVIDENT FINL SVCS INC COM 74386T105 45 3,528 SH   DFND   0 0 3,528
PS BUSINESS PKS INC CALIF COM 69360J107 108 800 SH   DFND   0 0 800
PTC INC COM 69370C100 28 460 SH   DFND   0 0 460
PUBLIC STORAGE COM 74460D109 116 584 SH   DFND   0 0 584
PUBLIC SVC ENTERPRISE GROUP COM 744573106 154 3,420 SH   DFND   0 0 3,420
QORVO INC COM 74736K101 34 420 SH   DFND   0 0 420
QUALCOMM INC COM 747525103 63 931 SH   DFND   0 0 931
QUALYS INC COM 74758T303 39 445 SH   DFND   0 0 445
RAVEN INDS INC COM 754212108 35 1,652 SH   DFND   0 0 1,652
RE MAX HLDGS INC CL A 75524W108 35 1,591 SH   DFND   0 0 1,591
REGAL BELOIT CORP COM 758750103 41 653 SH   DFND   0 0 653
REGIONS FINL CORP NEW COM 7591EP100 55 6,105 SH   DFND   0 0 6,105
RELIANCE STEEL & ALUMINUM CO COM 759509102 86 985 SH   DFND   0 0 985
RENAISSANCERE HOLDINGS LTD COM G7496G103 57 380 SH   DFND   0 0 380
RENT A CTR INC NEW COM 76009N100 49 3,466 SH   DFND   0 0 3,466
REPUBLIC SVCS INC COM 760759100 98 1,310 SH   DFND   0 0 1,310
RESOURCES CONNECTION INC COM 76122Q105 34 3,068 SH   DFND   0 0 3,068
ROBERT HALF INTL INC COM 770323103 29 766 SH   DFND   0 0 766
ROGERS CORP COM 775133101 22 230 SH   DFND   0 0 230
ROLLINS INC COM 775711104 109 3,010 SH   DFND   0 0 3,010
S&P GLOBAL INC COM 78409V104 58 238 SH   DFND   0 0 238
SABRE CORP COM 78573M104 39 6,650 SH   DFND   0 0 6,650
SALESFORCE COM INC COM 79466L302 63 441 SH   DFND   0 0 441
SANFILIPPO JOHN B & SON INC COM 800422107 213 2,383 SH   DFND   0 0 2,383
SANMINA CORPORATION COM 801056102 45 1,661 SH   DFND   0 0 1,661
SBA COMMUNICATIONS CORP NEW CL A 78410G104 138 512 SH   DFND   0 0 512
SCANSOURCE INC COM 806037107 39 1,832 SH   DFND   0 0 1,832
SCHLUMBERGER LTD COM 806857108 39 2,904 SH   DFND   0 0 2,904
SCIENCE APPLICATNS INTL CP N COM 808625107 46 618 SH   DFND   0 0 618
SCORPIO TANKERS INC SHS Y7542C130 860 45,000 SH   DFND   0 0 45,000
SELECT SECTOR SPDR TR ENERGY 81369Y506 2,944 101,300 SH   DFND   0 0 101,300
SELECT SECTOR SPDR TR SBI INT-FINL 81369Y605 42,358 2,034,491 SH   DFND   0 0 2,034,491
SELECT SECTOR SPDR TR SBI HEALTHCARE 81369Y209 10,347 116,815 SH   DFND   0 0 116,815
SELECT SECTOR SPDR TR SBI CONS STPLS 81369Y308 8,715 160,000 SH   DFND   0 0 160,000
SEMTECH CORP COM 816850101 34 896 SH   DFND   0 0 896
SENSIENT TECHNOLOGIES CORP COM 81725T100 60 1,378 SH   DFND   0 0 1,378
SHUTTERSTOCK INC COM 825690100 31 965 SH   DFND   0 0 965
SILICON LABORATORIES INC COM 826919102 46 540 SH   DFND   0 0 540
SIMON PPTY GROUP INC NEW COM 828806109 38 688 SH   DFND   0 0 688
SIMPSON MANUFACTURING CO INC COM 829073105 77 1,245 SH   DFND   0 0 1,245
SIX FLAGS ENTMT CORP NEW COM 83001A102 46 3,695 SH   DFND   0 0 3,695
SKYWEST INC COM 830879102 23 879 SH   DFND   0 0 879
SMART GLOBAL HLDGS INC SHS G8232Y101 24 1,004 SH   DFND   0 0 1,004
SOUTHERN COPPER CORP COM 84265V105 9,084 322,596 SH   SOLE   90,898 0 231,698
SOUTHWEST AIRLS CO COM 844741108 49 1,378 SH   DFND   0 0 1,378
SPDR GOLD TRUST GOLD SHS 78463V107 2,783 18,800 SH   DFND   0 0 18,800
SPDR INDEX SHS FDS CALL 78463X902 47 100 SH Call DFND   0 0 100
SPDR INDEX SHS FDS EURO STOXX 50 78463X202 5,627 190,670 SH   DFND   0 0 190,670
SPDR INDEX SHS FDS PUT 78463X952 4,061 150 SH Put DFND   0 0 150
SPDR INDEX SHS FDS ASIA PACIF ETF 78463X301 1,741 20,500 SH   DFND   0 0 20,500
SPDR S&P 500 ETF TR TR UNIT 78462F103 237,247 920,456 SH   SOLE   392,385 0 528,071
SPDR SERIES TRUST PORTFOLIO LN TSR 78464A664 131 2,775 SH   DFND   0 0 2,775
SPROUTS FMRS MKT INC COM 85208M102 96 5,162 SH   DFND   0 0 5,162
SPS COMM INC COM 78463M107 39 845 SH   DFND   0 0 845
STAR BULK CARRIERS CORP SHS PAR Y8162K204 2,087 370,000 SH   DFND   0 0 370,000
STEEL DYNAMICS INC COM 858119100 48 2,128 SH   DFND   0 0 2,128
STEPAN CO COM 858586100 35 395 SH   DFND   0 0 395
SUMMIT HOTEL PPTYS INC COM 866082100 19 4,442 SH   DFND   0 0 4,442
SYNAPTICS INC COM 87157D109 36 625 SH   DFND   0 0 625
SYNCHRONY FINL COM 87165B103 57 3,571 SH   DFND   0 0 3,571
SYNOPSYS INC COM 871607107 43 332 SH   DFND   0 0 332
TAKE-TWO INTERACTIVE SOFTWAR COM 874054109 897 7,566 SH   DFND   0 0 7,566
TARGET CORP COM 87612E106 111 1,191 SH   DFND   0 0 1,191
TE CONNECTIVITY LTD REG SHS H84989104 41 646 SH   DFND   0 0 646
TECHTARGET INC COM 87874R100 54 2,630 SH   DFND   0 0 2,630
TELEFONICA BRASIL SA SPONSORED ADR 87936R106 1,855 194,700 SH   SOLE   44,300 0 150,400
TEXAS INSTRS INC COM 882508104 69 693 SH   DFND   0 0 693
THERMO FISHER SCIENTIFIC INC COM 883556102 3,403 12,000 SH   DFND   0 0 12,000
TIM PARTICIPACOES S A SPONSORED ADR 88706P205 12,694 1,043,923 SH   SOLE   323,958 0 719,965
TOPBUILD CORP COM 89055F103 48 666 SH   DFND   0 0 666
TRACTOR SUPPLY CO COM 892356106 48 562 SH   DFND   0 0 562
TRAVELERS COMPANIES INC COM 89417E109 58 580 SH   DFND   0 0 580
TRUSTCO BK CORP N Y COM 898349105 31 5,660 SH   DFND   0 0 5,660
TWITTER INC COM 90184L102 1,879 76,524 SH   DFND   0 0 76,524
UGI CORP NEW COM 902681105 73 2,742 SH   DFND   0 0 2,742
UNIFIRST CORP MASS COM 904708104 57 376 SH   DFND   0 0 376
UNION PAC CORP COM 907818108 55 393 SH   DFND   0 0 393
UNITED CONTL HLDGS INC COM 910047109 43 1,377 SH   DFND   0 0 1,377
UNITEDHEALTH GROUP INC COM 91324P102 111 447 SH   DFND   0 0 447
UNIVERSAL DISPLAY CORP COM 91347P105 27 207 SH   DFND   0 0 207
UNIVERSAL ELECTRS INC COM 913483103 37 972 SH   DFND   0 0 972
UNIVERSAL FST PRODS INC COM 913543104 45 1,216 SH   DFND   0 0 1,216
UNIVERSAL HLTH SVCS INC CL B 913903100 85 859 SH   DFND   0 0 859
UNIVERSAL INS HLDGS INC COM 91359V107 58 3,224 SH   DFND   0 0 3,224
VALE S A ADR 91912E105 128,559 15,507,756 SH   SOLE   2,235,705 0 13,272,051
VALE S A PUT 91912E955 2,896 5,000 SH Put DFND   0 0 5,000
VALERO ENERGY CORP NEW COM 91913Y100 31 692 SH   DFND   0 0 692
VANECK VECTORS ETF TR RUSSIA ETF 92189F403 12,929 775,119 SH   DFND   0 0 775,119
VANGUARD INDEX FDS S&P 500 ETF SHS 922908363 76,094 322,212 SH   DFND   0 0 322,212
VANGUARD INTL EQUITY INDEX F FTSE EUROPE ETF 922042874 883 20,404 SH   SOLE   4,756 0 15,648
VANGUARD INTL EQUITY INDEX F TT WRLD ST ETF 922042742 6,494 103,400 SH   DFND   0 0 103,400
VERISIGN INC COM 92343E102 81 451 SH   DFND   0 0 451
VERISK ANALYTICS INC COM 92345Y106 61 437 SH   DFND   0 0 437
VISA INC COM CL A 92826C839 2,016 12,511 SH   DFND   0 0 12,511
WALKER & DUNLOP INC COM 93148P102 34 855 SH   DFND   0 0 855
WALMART INC COM 931142103 1,462 12,865 SH   DFND   0 0 12,865
WARRIOR MET COAL INC COM 93627C101 26 2,435 SH   DFND   0 0 2,435
WASTE MGMT INC DEL COM 94106L109 184 1,985 SH   DFND   0 0 1,985
WERNER ENTERPRISES INC COM 950755108 111 3,059 SH   DFND   0 0 3,059
WEST PHARMACEUTICAL SVSC INC COM 955306105 80 527 SH   DFND   0 0 527
WILEY JOHN & SONS INC CL A 968223206 40 1,061 SH   DFND   0 0 1,061
WILLIAMS COS INC DEL COM 969457100 54 3,791 SH   DFND   0 0 3,791
WILLIS TOWERS WATSON PUB LTD SHS G96629103 1,817 10,700 SH   DFND   0 0 10,700
WISDOMTREE TR INDIA ERNGS FD 97717W422 567 35,000 SH   DFND   0 0 35,000
WORTHINGTON INDS INC COM 981811102 27 1,030 SH   DFND   0 0 1,030
XYLEM INC COM 98419M100 37 572 SH   DFND   0 0 572
ZYNGA INC CL A 98986T108 782 114,188 SH   DFND   0 0 114,188