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 15,626 200,926 SH   DFND 1 200,926 0 0
ABBVIE INC COM 00287Y109 248 2,205 SH   DFND 1 2,205 0 0
ALIBABA GROUP HLDG LTD SPONSORED ADS 01609W102 290,561 1,281,245 SH   DFND 1 1,281,245 0 0
ALPHABET INC CAP STK CL A 02079K305 49,524 20,282 SH   DFND 1 20,282 0 0
ALTICE USA INC CL A 02156K103 25,069 734,314 SH   DFND 1 734,314 0 0
AMAZON COM INC COM 023135106 20,201 5,872 SH   DFND 1 5,872 0 0
ANALOG DEVICES INC COM 032654105 593 3,443 SH   DFND 1 3,443 0 0
ANGLOGOLD ASHANTI LIMITED SPONSORED ADR 035128206 47,842 2,574,917 SH   DFND 1 2,574,917 0 0
ANTHEM INC COM 036752103 27,464 71,933 SH   DFND 1 71,933 0 0
AUTOHOME INC SP ADS RP CL A 05278C107 26,765 418,470 SH   DFND 1 418,470 0 0
AVALONBAY CMNTYS INC COM 053484101 3,130 14,999 SH   DFND 1 14,999 0 0
BARRICK GOLD CORP COM 067901108 5,873 284,009 SH   DFND 1 284,009 0 0
BAXTER INTL INC COM 071813109 372 4,621 SH   DFND 1 4,621 0 0
BECTON DICKINSON & CO COM 075887109 9,113 37,473 SH   DFND 1 37,473 0 0
CANADIAN PAC RY LTD COM 13645T100 20,699 269,129 SH   DFND 1 269,129 0 0
CAPRI HOLDINGS LIMITED SHS G1890L107 18,048 315,586 SH   DFND 1 315,586 0 0
CHARTER COMMUNICATIONS INC N CL A 16119P108 52,900 73,324 SH   DFND 1 73,324 0 0
CME GROUP INC COM 12572Q105 2,529 11,892 SH   DFND 1 11,892 0 0
COMCAST CORP NEW CL A 20030N101 3,016 52,898 SH   DFND 1 52,898 0 0
DIDI GLOBAL INC SPONSORED ADS 23292E108 1,535 108,589 SH   DFND 1 108,589 0 0
EQUIFAX INC COM 294429105 1,069 4,462 SH   DFND 1 4,462 0 0
FACEBOOK INC CL A 30303M102 50,885 146,343 SH   DFND 1 146,343 0 0
FIDELITY NATL INFORMATION SV COM 31620M106 214 1,513 SH   DFND 1 1,513 0 0
FISERV INC COM 337738108 28,901 270,378 SH   DFND 1 270,378 0 0
FOMENTO ECONOMICO MEXICANO S SPON ADR UNITS 344419106 64,906 768,027 SH   DFND 1 768,027 0 0
HDFC BANK LTD SPONSORED ADS 40415F101 88,168 1,205,800 SH   DFND 1 1,205,800 0 0
INFOSYS LTD SPONSORED ADR 456788108 4,360 205,766 SH   DFND 1 205,766 0 0
INTERCONTINENTAL EXCHANGE IN COM 45866F104 1,099 9,262 SH   DFND 1 9,262 0 0
ISHARES GOLD TR ISHARES NEW 464285204 1,178 34,935 SH   DFND 1 34,935 0 0
JD.COM INC SPON ADR CL A 47215P106 464,606 5,821,406 SH   DFND 1 5,821,406 0 0
JOHNSON & JOHNSON COM 478160104 242 1,469 SH   DFND 1 1,469 0 0
LIBERTY MEDIA CORP DEL COM SER C FRMLA 531229854 16,631 344,967 SH   DFND 1 344,967 0 0
LINDE PLC SHS G5494J103 1,016 3,515 SH   DFND 1 3,515 0 0
MAKEMYTRIP LIMITED MAURITIUS SHS V5633W109 8,669 288,489 SH   DFND 1 288,489 0 0
MASTERCARD INCORPORATED CL A 57636Q104 2,829 7,748 SH   DFND 1 7,748 0 0
MELCO RESORTS AND ENTMNT LTD ADR 585464100 137,150 8,277,012 SH   DFND 1 8,277,012 0 0
MERCADOLIBRE INC COM 58733R102 129,815 83,333 SH   DFND 1 83,333 0 0
MGM GROWTH PPTYS LLC CL A COM 55303A105 4,130 112,770 SH   DFND 1 112,770 0 0
MICROSOFT CORP COM 594918104 25,204 93,038 SH   DFND 1 93,038 0 0
MOODYS CORP COM 615369105 12,789 35,293 SH   DFND 1 35,293 0 0
NETEASE INC SPONSORED ADS 64110W102 143,928 1,248,832 SH   DFND 1 1,248,832 0 0
NETFLIX INC COM 64110L106 32,978 62,433 SH   DFND 1 62,433 0 0
NEW ORIENTAL ED & TECHNOLOGY SPON ADR 647581107 135,409 16,533,516 SH   DFND 1 16,533,516 0 0
PAGSEGURO DIGITAL LTD COM CL A G68707101 54,513 974,841 SH   DFND 1 974,841 0 0
PHILIP MORRIS INTL INC COM 718172109 170,213 1,717,417 SH   DFND 1 1,717,417 0 0
PINDUODUO INC SPONSORED ADS 722304102 303 2,383 SH   DFND 1 2,383 0 0
RYANAIR HOLDINGS PLC SPONSORED ADS 783513203 26,134 241,510 SH   DFND 1 241,510 0 0
S&P GLOBAL INC COM 78409V104 9,914 24,155 SH   DFND 1 24,155 0 0
SALESFORCE COM INC COM 79466L302 13,946 57,094 SH   DFND 1 57,094 0 0
SCHWAB CHARLES CORP COM 808513105 8,348 114,657 SH   DFND 1 114,657 0 0
SEA LTD SPONSORD ADS 81141R100 2,002 7,292 SH   DFND 1 7,292 0 0
SENDAS DISTRIBUIDORA S A SPON ADS 81689T104 127,246 7,441,313 SH   DFND 1 7,441,313 0 0
SPOTIFY TECHNOLOGY S A SHS L8681T102 8,838 32,071 SH   DFND 1 32,071 0 0
STONECO LTD COM CL A G85158106 18,759 279,731 SH   DFND 1 279,731 0 0
TAIWAN SEMICONDUCTOR MFG LTD SPONSORED ADS 874039100 86,811 722,464 SH   DFND 1 722,464 0 0
TAL EDUCATION GROUP SPONSORED ADS 874080104 682 27,019 SH   DFND 1 27,019 0 0
TENCENT MUSIC ENTMT GROUP SPON ADS 88034P109 172,788 11,162,043 SH   DFND 1 11,162,043 0 0
THERMO FISHER SCIENTIFIC INC COM 883556102 389 771 SH   DFND 1 771 0 0
T-MOBILE US INC COM 872590104 10,412 71,891 SH   DFND 1 71,891 0 0
TRIP COM GROUP LTD ADS 89677Q107 87,375 2,464,038 SH   DFND 1 2,464,038 0 0
UBER TECHNOLOGIES INC COM 90353T100 4,526 90,306 SH   DFND 1 90,306 0 0
UNION PAC CORP COM 907818108 18,291 83,169 SH   DFND 1 83,169 0 0
UNITEDHEALTH GROUP INC COM 91324P102 26,053 65,060 SH   DFND 1 65,060 0 0
UNITY SOFTWARE INC COM 91332U101 794 7,226 SH   DFND 1 7,226 0 0
VANGUARD SCOTTSDALE FDS SHRT TRM CORP BD 92206C409 511 6,181 SH   DFND 1 6,181 0 0
VISA INC COM CL A 92826C839 38,667 165,371 SH   DFND 1 165,371 0 0
WESTERN DIGITAL CORP. COM 958102105 560 7,871 SH   DFND 1 7,871 0 0
WORLD WRESTLING ENTMT INC CL A 98156Q108 1,480 25,563 SH   DFND 1 25,563 0 0
XP INC CL A G98239109 48,555 1,114,935 SH   DFND 1 1,114,935 0 0
YANDEX N V SHS CLASS A N97284108 140,416 1,984,678 SH   DFND 1 1,984,678 0 0
YOUDAO INC SPONSORED ADS 98741T104 62,813 2,720,359 SH   DFND 1 2,720,359 0 0
YUM CHINA HLDGS INC COM 98850P109 80,471 1,214,653 SH   DFND 1 1,214,653 0 0