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 796 12,963 SH   DFND 2 12,963 0 0
58 COM INC SPON ADR REP A 31680Q104 13,229 271,524 SH   DFND 1 271,524 0 0
58 COM INC SPON ADR REP A 31680Q104 225,891 4,636,515 SH   DFND 2 4,636,515 0 0
ABBVIE INC COM 00287Y109 8,597 112,837 SH   DFND 2 112,837 0 0
ADVANCE AUTO PARTS INC COM 00751Y106 971 10,409 SH   DFND 2 10,409 0 0
ALIBABA GROUP HLDG LTD SPONSORED ADS 01609W102 10,636 54,689 SH   DFND 1 54,689 0 0
ALIBABA GROUP HLDG LTD SPONSORED ADS 01609W102 192,461 989,618 SH   DFND 2 989,618 0 0
ALPHABET INC CAP STK CL A 02079K305 38,497 33,131 SH   DFND 2 33,131 0 0
AMAZON COM INC COM 023135106 11,540 5,919 SH   DFND 2 5,919 0 0
AMERICAN EXPRESS CO COM 025816109 3,097 36,176 SH   DFND 2 36,176 0 0
ANTHEM INC COM 036752103 16,791 73,958 SH   DFND 2 73,958 0 0
BARRICK GOLD CORPORATION COM 067901108 1,705 93,061 SH   DFND 2 93,061 0 0
BLACKSTONE GROUP INC COM CL A 09260D107 2,013 44,165 SH   DFND 2 44,165 0 0
BLACKSTONE MTG TR INC COM CL A 09257W100 1,740 93,440 SH   DFND 2 93,440 0 0
CANADIAN PAC RY LTD COM 13645T100 10,441 47,546 SH   DFND 2 47,546 0 0
CAPRI HOLDINGS LIMITED SHS G1890L107 7,162 663,796 SH   DFND 2 663,796 0 0
CARLYLE GROUP INC COM 14316J108 1,691 78,089 SH   DFND 2 78,089 0 0
CHARTER COMMUNICATIONS INC N CL A 16119P108 34,161 78,296 SH   DFND 2 78,296 0 0
CITIGROUP INC COM NEW 172967424 8,731 207,288 SH   DFND 2 207,288 0 0
COGNIZANT TECHNOLOGY SOLUTIO CL A 192446102 2,233 48,057 SH   DFND 2 48,057 0 0
COMCAST CORP NEW CL A 20030N101 2,215 64,440 SH   DFND 2 64,440 0 0
COMPANHIA BRASILEIRA DE DIST SPONSORED ADR 20440T300 6,885 545,967 SH   DFND 1 545,967 0 0
COMPANHIA BRASILEIRA DE DIST SPONSORED ADR 20440T300 109,753 8,703,687 SH   DFND 2 8,703,687 0 0
CONSTELLATION BRANDS INC CL A 21036P108 482 3,363 SH   DFND 2 3,363 0 0
CVS HEALTH CORP COM 126650100 1,637 27,589 SH   DFND 2 27,589 0 0
DOLLAR TREE INC COM 256746108 3,971 54,045 SH   DFND 2 54,045 0 0
FACEBOOK INC CL A 30303M102 18,454 110,633 SH   DFND 2 110,633 0 0
FISERV INC COM 337738108 10,759 113,263 SH   DFND 2 113,263 0 0
FOMENTO ECONOMICO MEXICANO S SPON ADR UNITS 344419106 8,097 133,815 SH   DFND 1 133,815 0 0
FOMENTO ECONOMICO MEXICANO S SPON ADR UNITS 344419106 128,095 2,116,928 SH   DFND 2 2,116,928 0 0
HDFC BANK LTD SPONSORED ADS 40415F101 6,560 170,570 SH   DFND 1 170,570 0 0
HDFC BANK LTD SPONSORED ADS 40415F101 117,820 3,063,445 SH   DFND 2 3,063,445 0 0
INFOSYS LTD SPONSORED ADR 456788108 2,122 258,513 SH   DFND 1 258,513 0 0
INFOSYS LTD SPONSORED ADR 456788108 33,900 4,129,097 SH   DFND 2 4,129,097 0 0
INVITATION HOMES INC COM 46187W107 2,445 114,431 SH   DFND 2 114,431 0 0
JD COM INC SPON ADR CL A 47215P106 8,285 204,575 SH   DFND 1 204,575 0 0
JD COM INC SPON ADR CL A 47215P106 144,366 3,564,597 SH   DFND 2 3,564,597 0 0
LIBERTY MEDIA CORP DEL COM SER C FRMLA 531229854 2,795 102,654 SH   DFND 2 102,654 0 0
LOWES COS INC COM 548661107 1,878 21,823 SH   DFND 2 21,823 0 0
MAKEMYTRIP LIMITED MAURITIUS SHS V5633W109 1,389 116,179 SH   DFND 1 116,179 0 0
MAKEMYTRIP LIMITED MAURITIUS SHS V5633W109 22,026 1,842,449 SH   DFND 2 1,842,449 0 0
MELCO RESORTS AND ENTMNT LTD ADR 585464100 3,749 302,374 SH   DFND 1 302,374 0 0
MELCO RESORTS AND ENTMNT LTD ADR 585464100 61,116 4,928,726 SH   DFND 2 4,928,726 0 0
MERCADOLIBRE INC COM 58733R102 42,532 87,052 SH   DFND 2 87,052 0 0
MERCADOLIBRE INC COM 58733R102 2,749 5,627 SH   DFND 1 5,627 0 0
MGM GROWTH PPTYS LLC CL A COM 55303A105 1,691 71,430 SH   DFND 2 71,430 0 0
MICROSOFT CORP COM 594918104 8,400 53,262 SH   DFND 2 53,262 0 0
MONDELEZ INTL INC CL A 609207105 6,469 129,178 SH   DFND 2 129,178 0 0
MOODYS CORP COM 615369105 5,351 25,299 SH   DFND 2 25,299 0 0
MORGAN STANLEY COM NEW 617446448 7,331 215,607 SH   DFND 2 215,607 0 0
NETEASE INC SPONSORED ADS 64110W102 2,149 6,694 SH   DFND 1 6,694 0 0
NETEASE INC SPONSORED ADS 64110W102 38,865 121,091 SH   DFND 2 121,091 0 0
NETFLIX INC COM 64110L106 4,985 13,275 SH   DFND 2 13,275 0 0
NEW ORIENTAL ED & TECH GRP I SPON ADR 647581107 44,316 409,424 SH   DFND 2 409,424 0 0
NEW ORIENTAL ED & TECH GRP I SPON ADR 647581107 2,764 25,539 SH   DFND 1 25,539 0 0
NIKE INC CL B 654106103 205 2,476 SH   DFND 2 2,476 0 0
NOAH HLDGS LTD SPON ADS CL A 65487X102 33,219 1,284,575 SH   DFND 2 1,284,575 0 0
NOAH HLDGS LTD SPON ADS CL A 65487X102 2,080 80,428 SH   DFND 1 80,428 0 0
PAGSEGURO DIGITAL LTD COM CL A G68707101 214 11,083 SH   DFND 2 11,083 0 0
PHILIP MORRIS INTL INC COM 718172109 10,784 147,801 SH   DFND 1 147,801 0 0
PHILIP MORRIS INTL INC COM 718172109 191,136 2,619,736 SH   DFND 2 2,619,736 0 0
PINTEREST INC CL A 72352L106 2,349 152,134 SH   DFND 2 152,134 0 0
SALESFORCE COM INC COM 79466L302 9,508 66,039 SH   DFND 2 66,039 0 0
SCHWAB CHARLES CORP COM 808513105 14,570 433,373 SH   DFND 2 433,373 0 0
SIMON PPTY GROUP INC NEW COM 828806109 2,568 46,804 SH   DFND 2 46,804 0 0
SLACK TECHNOLOGIES INC COM CL A 83088V102 1,654 61,631 SH   DFND 2 61,631 0 0
SOUTHWEST AIRLS CO COM 844741108 1,046 29,372 SH   DFND 2 29,372 0 0
SPOTIFY TECHNOLOGY S A SHS L8681T102 14,555 119,856 SH   DFND 2 119,856 0 0
STONECO LTD COM CL A G85158106 850 39,046 SH   DFND 1 39,046 0 0
STONECO LTD COM CL A G85158106 13,462 618,394 SH   DFND 2 618,394 0 0
TAIWAN SEMICONDUCTOR MFG LTD SPONSORED ADS 874039100 559 11,705 SH   DFND 2 11,705 0 0
TENCENT MUSIC ENTMT GROUP SPON ADS 88034P109 2,038 202,581 SH   DFND 1 202,581 0 0
TENCENT MUSIC ENTMT GROUP SPON ADS 88034P109 31,613 3,142,445 SH   DFND 2 3,142,445 0 0
THERMO FISHER SCIENTIFIC INC COM 883556102 1,963 6,923 SH   DFND 2 6,923 0 0
TRANSPORTADORA DE GAS SUR SPONSORED ADS B 893870204 115 25,085 SH   DFND 2 25,085 0 0
TRIP COM GROUP LTD ADS 89677Q107 67,372 2,873,023 SH   DFND 2 2,873,023 0 0
TRIP COM GROUP LTD ADS 89677Q107 3,999 170,515 SH   DFND 1 170,515 0 0
UNION PAC CORP COM 907818108 10,168 72,095 SH   DFND 2 72,095 0 0
UNITEDHEALTH GROUP INC COM 91324P102 17,424 69,869 SH   DFND 2 69,869 0 0
VALE S A SPONSORED ADS 91912E105 191 23,000 SH   DFND 2 23,000 0 0
VANGUARD SCOTTSDALE FDS SHRT TRM CORP BD 92206C409 978 12,362 SH   DFND 2 12,362 0 0
VISA INC COM CL A 92826C839 2,134 13,243 SH   DFND 2 13,243 0 0
WORLD WRESTLING ENTMT INC CL A 98156Q108 9,288 273,750 SH   DFND 2 273,750 0 0
YANDEX N V SHS CLASS A N97284108 7,112 208,880 SH   DFND 1 208,880 0 0
YANDEX N V SHS CLASS A N97284108 111,526 3,275,355 SH   DFND 2 3,275,355 0 0
YUM BRANDS INC COM 988498101 1,534 22,379 SH   DFND 2 22,379 0 0
YUM CHINA HLDGS INC COM 98850P109 63,410 1,487,447 SH   DFND 2 1,487,447 0 0
YUM CHINA HLDGS INC COM 98850P109 3,897 91,417 SH   DFND 1 91,417 0 0