# EDGAR Filing Document

**Accession Number:** 0001166402
**File Stem:** 0001104659-23-019996
**Filing Date:** 2023-2
**Character Count:** 19884
**Document Hash:** 9c18171515f5828843a91eac78e4f639
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001104659-23-019996.hdr.sgml**: 20230214

**ACCESSION NUMBER**: 0001104659-23-019996

**CONFORMED SUBMISSION TYPE**: 13F-HR

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230214

**DATE AS OF CHANGE**: 20230213

**EFFECTIVENESS DATE**: 20230214

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** FCA CORP /TX
- **CENTRAL INDEX KEY:** 0001166402
- **IRS NUMBER:** 760076528
- **STATE OF INCORPORATION:** TX
- **FISCAL YEAR END:** 0930

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-10019
- **FILM NUMBER:** 23620962

**BUSINESS ADDRESS:**
- **STREET 1:** 791 TOWN & COUNTRY BLVD, SUITE 250
- **CITY:** HOUSTON
- **STATE:** TX
- **ZIP:** 77057
- **BUSINESS PHONE:** 7137812856

**MAIL ADDRESS:**
- **STREET 1:** 791 TOWN & COUNTRY BLVD, SUITE 250
- **CITY:** HOUSTON
- **STATE:** TX
- **ZIP:** 77024

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 12-31-2022

**Check here if Amendment** [ ] **Amendment Number:** 

**This Amendment (Check only one.):** [ ] is a restatement.

[ ] adds new holdings entries.

**Institutional Investment Manager Filing this Report:**

**Name:** FCA CORP /TX<br>**Address:** 791 Town  Country Blvd Suite 250<br>Houston, TX 77024

**Form 13F File Number:** 028-10019

**CRD Number (if applicable):** 000110658

**SEC File Number (if applicable):** 801-20514

The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form.

**Person Signing this Report on Behalf of Reporting Manager:**

**Name:** William LeVay<br>**Title:** Chief Compliance Officer<br>**Phone:** 713-781-2856

**Signature, Place, and Date of Signing:**

/s/ William LeVay  Houston, TX  02-13-2023<br>[Signature]  [City, State]  [Date]

**Report Type (Check only one.):**

[x] **13F HOLDINGS REPORT.** (Check here if all holdings of this reporting manager are reported in this report.)

[ ] **13F NOTICE.** (Check here if no holdings are reported in this report, and all holdings are reported by other reporting manager(s).)

[ ] **13F COMBINATION REPORT.** (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).)

### Form 13F Summary Page

**Report Summary:**

**Number of Other Included Managers:** 0

**Form 13F Information Table Entry Total:** 164

**Form 13F Information Table Value Total:** $248701668

      (round to nearest dollar)

**List of Other Included Managers:**

Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report.

[If there are no entries in this list, state “NONE” and omit the column headings and list entries.]

**NONE**

### FORM 13F INFORMATION TABLE

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | VOTING AUTHORITY | VOTING AUTHORITY | VOTING AUTHORITY |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | SOLE | SHARED | NONE |
| 3M CO | COM | 88579Y101 |  | 1404383 | 11711 | SH |  | SOLE |  | 0 | 0 | 11711 |
| ADAMS DIVERSIFIED EQUITY | COM | 006212104 |  | 2989426 | 205600 | SH |  | SOLE |  | 0 | 0 | 205600 |
| ADAMS NATURAL RESOURCES FUND | COM | 00548F105 |  | 2081751 | 95493 | SH |  | SOLE |  | 0 | 0 | 95493 |
| ADVENT CONVERT  INCOME | COM | 00764C109 |  | 821017 | 75323 | SH |  | SOLE |  | 0 | 0 | 75323 |
| AIR PRODUCTS  CHEMICALS INC | COM | 009158106 |  | 1359735 | 4411 | SH |  | SOLE |  | 0 | 0 | 4411 |
| ALLSTATE CORP | COM | 020002101 |  | 2771479 | 20439 | SH |  | SOLE |  | 0 | 0 | 20439 |
| ALPHABET INC-CL C | COM | 02079K107 |  | 657312 | 7408 | SH |  | SOLE |  | 0 | 0 | 7408 |
| AMCOR PLC | COM | G0250X107 |  | 309660 | 26000 | SH |  | DFND |  | 26000 | 0 | 0 |
| AMERICA MOVIL-SPN ADR CL L | ADR | 02364W105 |  | 182000 | 10000 | SH |  | DFND |  | 10000 | 0 | 0 |
| AMERICAN BUSINESS BANK | COM | 02475L105 |  | 725116 | 18219 | SH |  | SOLE |  | 0 | 0 | 18219 |
| AMGEN INC | COM | 031162100 |  | 4120003 | 15687 | SH |  | SOLE |  | 0 | 0 | 15687 |
| AMYRIS INC | COM | 03236M200 |  | 16830 | 11000 | SH |  | SOLE |  | 0 | 0 | 11000 |
| ANDRADA MINING LTD | COM | G012B4107 |  | 882 | 13329 | SH |  | SOLE |  | 0 | 0 | 13329 |
| APPLE INC | COM | 037833100 |  | 323658 | 2491 | SH |  | SOLE |  | 0 | 0 | 2491 |
| APPLE INC | COM | 037833100 |  | 636657 | 4900 | SH |  | DFND |  | 4900 | 0 | 0 |
| ARKEMA-SPONSORED ADR | ADR | 041232109 |  | 281011 | 3130 | SH |  | DFND |  | 3130 | 0 | 0 |
| ARTESIAN RESOURCES CORP-CL A | COM | 043113208 |  | 4305791 | 73503 | SH |  | SOLE |  | 0 | 0 | 73503 |
| ASTRAZENECA PLC-SPONS ADR | ADR | 046353108 |  | 542400 | 8000 | SH |  | DFND |  | 8000 | 0 | 0 |
| AUTOMATIC DATA PROCESSING | COM | 053015103 |  | 375010 | 1570 | SH |  | SOLE |  | 0 | 0 | 1570 |
| BANK OF AMERICA CORP | COM | 060505104 |  | 602264 | 18184 | SH |  | SOLE |  | 0 | 0 | 18184 |
| BRASILAGRO-CIA BRA - SPN ADR | ADR | 10554B104 |  | 156085 | 27432 | SH |  | DFND |  | 27432 | 0 | 0 |
| CATERPILLAR INC | COM | 149123101 |  | 287472 | 1200 | SH |  | DFND |  | 1200 | 0 | 0 |
| CHASE CORP | COM | 16150R104 |  | 3028562 | 35110 | SH |  | SOLE |  | 0 | 0 | 35110 |
| CHEVRON CORP | COM | 166764100 |  | 628215 | 3500 | SH |  | DFND |  | 3500 | 0 | 0 |
| CISCO SYSTEMS INC | COM | 17275R102 |  | 1276752 | 26800 | SH |  | SOLE |  | 0 | 0 | 26800 |
| COCA-COLA CO/THE | COM | 191216100 |  | 242759 | 3816 | SH |  | SOLE |  | 0 | 0 | 3816 |
| CONSUMER DISCRETIONARY SELT | COM | 81369Y407 |  | 3767825 | 29172 | SH |  | SOLE |  | 0 | 0 | 29172 |
| CONSUMER STAPLES SPDR | COM | 81369Y308 |  | 4230708 | 56750 | SH |  | SOLE |  | 0 | 0 | 56750 |
| COPA HOLDINGS SA-CLASS A | COM | P31076105 |  | 249510 | 3000 | SH |  | DFND |  | 3000 | 0 | 0 |
| COTERRA ENERGY INC | COM | 127097103 |  | 1221620 | 49720 | SH |  | SOLE |  | 0 | 0 | 49720 |
| CSX CORP | COM | 126408103 |  | 3518356 | 113569 | SH |  | SOLE |  | 0 | 0 | 113569 |
| CVS HEALTH CORP | COM | 126650100 |  | 1934776 | 20762 | SH |  | SOLE |  | 0 | 0 | 20762 |
| CYRELA BRAZIL REALTY-SPO ADR | ADR | 23282C401 |  | 113520 | 44000 | SH |  | DFND |  | 44000 | 0 | 0 |
| DEVON ENERGY CORP | COM | 25179M103 |  | 618668 | 10058 | SH |  | SOLE |  | 0 | 0 | 10058 |
| DIAGEO PLC-SPONSORED ADR | ADR | 25243Q205 |  | 498932 | 2800 | SH |  | DFND |  | 2800 | 0 | 0 |
| DR HORTON INC | COM | 23331A109 |  | 445700 | 5000 | SH |  | DFND |  | 5000 | 0 | 0 |
| DUKE ENERGY CORP | COM | 26441C204 |  | 280030 | 2719 | SH |  | SOLE |  | 0 | 0 | 2719 |
| ELECTRONIC ARTS INC | COM | 285512109 |  | 244360 | 2000 | SH |  | DFND |  | 2000 | 0 | 0 |
| ENERGY SELECT SECTOR SPDR | COM | 81369Y506 |  | 1266640 | 14481 | SH |  | SOLE |  | 0 | 0 | 14481 |
| ENTEGRIS INC | COM | 29362U104 |  | 555708 | 8472 | SH |  | SOLE |  | 0 | 0 | 8472 |
| EVEREST RE GROUP LTD | COM | G3223R108 |  | 3480483 | 10506 | SH |  | SOLE |  | 0 | 0 | 10506 |
| EXXON MOBIL CORP | COM | 30231G102 |  | 224599 | 2036 | SH |  | SOLE |  | 0 | 0 | 2036 |
| FIRST SEISMIC CORP | COM | 336397104 |  | 2356 | 44451 | SH |  | SOLE |  | 0 | 0 | 44451 |
| GJENSIDIGE FORSIKRING-UN ADR | ADR | 37636X101 |  | 384000 | 20000 | SH |  | DFND |  | 20000 | 0 | 0 |
| GLASS HOUSE BRANDS INC | COM | 377130406 |  | 39200 | 20000 | SH |  | SOLE |  | 0 | 0 | 20000 |
| GLOBAL X MSCI NIGERIA ETF | COM | 37954Y665 |  | 81918 | 11100 | SH |  | DFND |  | 11100 | 0 | 0 |
| GOLDMAN ACTIVEBETA US LC ETF | COM | 381430503 |  | 3361549 | 44155 | SH |  | SOLE |  | 0 | 0 | 44155 |
| GOLDMAN SACHS ACTIVEBETA INT | COM | 381430107 |  | 6651167 | 231104 | SH |  | SOLE |  | 0 | 0 | 231104 |
| GROUP 1 AUTOMOTIVE INC | COM | 398905109 |  | 703443 | 3900 | SH |  | DFND |  | 3900 | 0 | 0 |
| GRUPO AEROPORTUARIO SUR-ADR | ADR | 40051E202 |  | 302887 | 1300 | SH |  | DFND |  | 1300 | 0 | 0 |
| HARLEYSVILLE FINANCIAL CORP | COM | 41284E100 |  | 217916 | 8675 | SH |  | DFND |  | 8675 | 0 | 0 |
| HDFC BANK LTD-ADR | ADR | 40415F101 |  | 547280 | 8000 | SH |  | DFND |  | 8000 | 0 | 0 |
| HEMPFUSION WELLNESS INC | COM | 423821107 |  | 778 | 22222 | SH |  | SOLE |  | 0 | 0 | 22222 |
| INGLES MARKETS INC-CLASS A | COM | 457030104 |  | 5263629 | 54568 | SH |  | SOLE |  | 0 | 0 | 54568 |
| INTERCONTINENTAL HOTELS-ADR | ADR | 45857P806 |  | 356049 | 6103 | SH |  | DFND |  | 6103 | 0 | 0 |
| INTL BUSINESS MACHINES CORP | COM | 459200101 |  | 1742950 | 12371 | SH |  | SOLE |  | 0 | 0 | 12371 |
| INVESCO BULLETSHARES 2023 CO | COM | 46138J866 |  | 7274254 | 346723 | SH |  | SOLE |  | 0 | 0 | 346723 |
| INVESCO BULLETSHARES 2023 HI | COM | 46138J858 |  | 2916044 | 125098 | SH |  | SOLE |  | 0 | 0 | 125098 |
| INVESCO BULLETSHARES 2024 CO | COM | 46138J841 |  | 5367359 | 262013 | SH |  | SOLE |  | 0 | 0 | 262013 |
| INVESCO BULLETSHARES 2024 HI | COM | 46138J833 |  | 2031315 | 91832 | SH |  | SOLE |  | 0 | 0 | 91832 |
| INVESCO BULLETSHARES 2025 CO | COM | 46138J825 |  | 5162675 | 256339 | SH |  | SOLE |  | 0 | 0 | 256339 |
| INVESCO BULLETSHARES 2025 HI | COM | 46138J817 |  | 265607 | 12013 | SH |  | SOLE |  | 0 | 0 | 12013 |
| INVESCO BULLETSHARES 2026 CO | COM | 46138J791 |  | 1333597 | 70467 | SH |  | SOLE |  | 0 | 0 | 70467 |
| INVESCO S 500 EQUAL WEIGHT | COM | 46137V357 |  | 4630964 | 32786 | SH |  | SOLE |  | 0 | 0 | 32786 |
| INVESCO S 500 EQUAL WEIGHT | COM | 46137V332 |  | 3448682 | 11955 | SH |  | SOLE |  | 0 | 0 | 11955 |
| INVESCO S GLOBAL WATER IND | COM | 46138E263 |  | 2605685 | 55892 | SH |  | SOLE |  | 0 | 0 | 55892 |
| INVESCO VARIABLE RATE PREFER | COM | 46138G870 |  | 2087842 | 93249 | SH |  | SOLE |  | 0 | 0 | 93249 |
| ISHARES CALIFORNIA MUNI BOND | COM | 464288356 |  | 409491 | 7298 | SH |  | SOLE |  | 0 | 0 | 7298 |
| ISHARES CORE GROWTH ALLOCATI | COM | 464289867 |  | 281734 | 5974 | SH |  | SOLE |  | 0 | 0 | 5974 |
| ISHARES CORE S MIDCAP ETF | COM | 464287507 |  | 4815016 | 19906 | SH |  | SOLE |  | 0 | 0 | 19906 |
| ISHARES FLOATING RATE BOND E | COM | 46429B655 |  | 5760985 | 114464 | SH |  | SOLE |  | 0 | 0 | 114464 |
| ISHARES GLOBAL HEALTHCARE ET | COM | 464287325 |  | 4446009 | 52380 | SH |  | SOLE |  | 0 | 0 | 52380 |
| ISHARES GLOBAL TECH ETF | COM | 464287291 |  | 3146080 | 70178 | SH |  | SOLE |  | 0 | 0 | 70178 |
| ISHARES MSCI EAFE ETF | COM | 464287465 |  | 700367 | 10670 | SH |  | SOLE |  | 0 | 0 | 10670 |
| ISHARES MSCI EAFE SMALL-CAP | COM | 464288273 |  | 3602433 | 63782 | SH |  | SOLE |  | 0 | 0 | 63782 |
| ISHARES MSCI USA MIN VOL FAC | COM | 46429B697 |  | 228160 | 3165 | SH |  | SOLE |  | 0 | 0 | 3165 |
| ISHARES RUSSELL 1000 ETF | COM | 464287622 |  | 4012292 | 19059 | SH |  | SOLE |  | 0 | 0 | 19059 |
| ISHARES RUSSELL 1000 GROWTH | COM | 464287614 |  | 264586 | 1235 | SH |  | SOLE |  | 0 | 0 | 1235 |
| ISHARES RUSSELL 2000 ETF | COM | 464287655 |  | 1484178 | 8512 | SH |  | SOLE |  | 0 | 0 | 8512 |
| ISHARES RUSSELL MID-CAP ETF | COM | 464287499 |  | 2514358 | 37277 | SH |  | SOLE |  | 0 | 0 | 37277 |
| ISHARES SHORT-TERM NATIONAL | COM | 464288158 |  | 717899 | 6885 | SH |  | SOLE |  | 0 | 0 | 6885 |
| JAMES HARDIE IND PLC-SP ADR | ADR | 47030M106 |  | 448500 | 25000 | SH |  | DFND |  | 25000 | 0 | 0 |
| JOHN HANCOCK FINANCIAL OPPOR | COM | 409735206 |  | 2859389 | 85842 | SH |  | SOLE |  | 0 | 0 | 85842 |
| JOHN HANCOCK MULTI FACT LRG | COM | 47804J107 |  | 1442254 | 29284 | SH |  | SOLE |  | 0 | 0 | 29284 |
| JOHNSON  JOHNSON | COM | 478160104 |  | 3093108 | 17510 | SH |  | SOLE |  | 0 | 0 | 17510 |
| JPMORGAN CHASE  CO | COM | 46625H100 |  | 281610 | 2100 | SH |  | DFND |  | 2100 | 0 | 0 |
| JPMORGAN ULTRA-SHORT INCOME | COM | 46641Q837 |  | 2156632 | 43021 | SH |  | SOLE |  | 0 | 0 | 43021 |
| KAJIMA CORP-UNSPONSORED ADR | ADR | 483111209 |  | 117400 | 10000 | SH |  | DFND |  | 10000 | 0 | 0 |
| KVH INDUSTRIES INC | COM | 482738101 |  | 306600 | 30000 | SH |  | DFND |  | 30000 | 0 | 0 |
| LENDLEASE GROUP - SPON ADR | ADR | 526023205 |  | 66045 | 11900 | SH |  | DFND |  | 11900 | 0 | 0 |
| LENNAR CORP-A | COM | 526057104 |  | 362000 | 4000 | SH |  | DFND |  | 4000 | 0 | 0 |
| LENNOX INTERNATIONAL INC | COM | 526107107 |  | 406691 | 1700 | SH |  | DFND |  | 1700 | 0 | 0 |
| LIVEVOX HOLDINGS INC | COM | 53838L100 |  | 29700 | 10000 | SH |  | SOLE |  | 0 | 0 | 10000 |
| LOCKHEED MARTIN CORP | COM | 539830109 |  | 2169911 | 4460 | SH |  | SOLE |  | 0 | 0 | 4460 |
| LOWE'S COS INC | COM | 548661107 |  | 3316549 | 16646 | SH |  | SOLE |  | 0 | 0 | 16646 |
| LOWE'S COS INC | COM | 548661107 |  | 518024 | 2600 | SH |  | DFND |  | 2600 | 0 | 0 |
| MAINSTAY CBRE GLBL INFR MEGA | COM | 56064Q107 |  | 1120469 | 82086 | SH |  | SOLE |  | 0 | 0 | 82086 |
| METLIFE INC | COM | 59156R108 |  | 2330954 | 32209 | SH |  | SOLE |  | 0 | 0 | 32209 |
| MICROSOFT CORP | COM | 594918104 |  | 905081 | 3774 | SH |  | SOLE |  | 0 | 0 | 3774 |
| MICROSOFT CORP | COM | 594918104 |  | 359730 | 1500 | SH |  | DFND |  | 1500 | 0 | 0 |
| MILLER INDUSTRIES INC/TENN | COM | 600551204 |  | 479880 | 18000 | SH |  | DFND |  | 18000 | 0 | 0 |
| MTN GROUP LTD-SPONS ADR | ADR | 62474M108 |  | 93000 | 12500 | SH |  | DFND |  | 12500 | 0 | 0 |
| NATIONAL WESTERN LIFE GROU-A | COM | 638517102 |  | 2933038 | 10438 | SH |  | SOLE |  | 0 | 0 | 10438 |
| NESTLE SA-SPONS ADR | ADR | 641069406 |  | 547865 | 4750 | SH |  | DFND |  | 4750 | 0 | 0 |
| NETAPP INC | COM | 64110D104 |  | 480480 | 8000 | SH |  | DFND |  | 8000 | 0 | 0 |
| NICE LTD - SPON ADR | ADR | 653656108 |  | 519210 | 2700 | SH |  | DFND |  | 2700 | 0 | 0 |
| NIDEC CORPORATION-SPON ADR | ADR | 654090109 |  | 268170 | 21000 | SH |  | DFND |  | 21000 | 0 | 0 |
| NORFOLK SOUTHERN CORP | COM | 655844108 |  | 591408 | 2400 | SH |  | DFND |  | 2400 | 0 | 0 |
| NOVARTIS AG-SPONSORED ADR | ADR | 66987V109 |  | 2007724 | 22131 | SH |  | SOLE |  | 0 | 0 | 22131 |
| NOVO-NORDISK A/S-SPONS ADR | ADR | 670100205 |  | 270680 | 2000 | SH |  | DFND |  | 2000 | 0 | 0 |
| NUVEEN INT DUR MUNI TERM FD | COM | 670671106 |  | 1345246 | 102534 | SH |  | SOLE |  | 0 | 0 | 102534 |
| NUVEEN PREFERRED  INCOME SE | COM | 67072C105 |  | 630285 | 92689 | SH |  | SOLE |  | 0 | 0 | 92689 |
| NVR INC | COM | 62944T105 |  | 230629 | 50 | SH |  | DFND |  | 50 | 0 | 0 |
| NXP SEMICONDUCTORS NV | COM | N6596X109 |  | 1805493 | 11425 | SH |  | SOLE |  | 0 | 0 | 11425 |
| OLD REPUBLIC INTL CORP | COM | 680223104 |  | 2189031 | 90643 | SH |  | SOLE |  | 0 | 0 | 90643 |
| OSISKO GOLD ROYALTIES LTD | COM | 68827L101 |  | 487592 | 40397 | SH |  | SOLE |  | 0 | 0 | 40397 |
| PEARSON PLC-SPONSORED ADR | ADR | 705015105 |  | 281750 | 25000 | SH |  | DFND |  | 25000 | 0 | 0 |
| PIMCO ENHANCED SHORT MATURIT | COM | 72201R833 |  | 1528030 | 15489 | SH |  | SOLE |  | 0 | 0 | 15489 |
| PLEXUS CORP | COM | 729132100 |  | 1482192 | 14400 | SH |  | SOLE |  | 0 | 0 | 14400 |
| PROCTER  GAMBLE CO/THE | COM | 742718109 |  | 205970 | 1359 | SH |  | SOLE |  | 0 | 0 | 1359 |
| PROCTER  GAMBLE CO/THE | COM | 742718109 |  | 469836 | 3100 | SH |  | DFND |  | 3100 | 0 | 0 |
| QUALCOMM INC | COM | 747525103 |  | 673762 | 6128 | SH |  | SOLE |  | 0 | 0 | 6128 |
| RGC RESOURCES INC | COM | 74955L103 |  | 557865 | 25300 | SH |  | SOLE |  | 0 | 0 | 25300 |
| ROCHE HOLDINGS LTD-SPONS ADR | ADR | 771195104 |  | 469800 | 12000 | SH |  | DFND |  | 12000 | 0 | 0 |
| ROYCE MICRO-CAP TRUST INC | COM | 780915104 |  | 2473815 | 285002 | SH |  | SOLE |  | 0 | 0 | 285002 |
| ROYCE VALUE TRUST | COM | 780910105 |  | 193511 | 14594 | SH |  | SOLE |  | 0 | 0 | 14594 |
| SCHWAB FUNDAMENTAL LARGE CAP | COM | 808524771 |  | 2587492 | 48419 | SH |  | SOLE |  | 0 | 0 | 48419 |
| SCHWAB INTL EQUITY ETF | COM | 808524805 |  | 468757 | 14553 | SH |  | SOLE |  | 0 | 0 | 14553 |
| SCHWAB US MID CAP ETF | COM | 808524508 |  | 583388 | 8892 | SH |  | SOLE |  | 0 | 0 | 8892 |
| SCHWAB US SMALL-CAP ETF | COM | 808524607 |  | 554532 | 13689 | SH |  | SOLE |  | 0 | 0 | 13689 |
| SHOPRITE HOLDINGS-SPN ADR | ADR | 82510E209 |  | 303120 | 24000 | SH |  | DFND |  | 24000 | 0 | 0 |
| SIEMENS AG-SPONS ADR | ADR | 826197501 |  | 481530 | 7000 | SH |  | DFND |  | 7000 | 0 | 0 |
| SKYWORKS SOLUTIONS INC | COM | 83088M102 |  | 328068 | 3600 | SH |  | DFND |  | 3600 | 0 | 0 |
| SONOS INC | COM | 83570H108 |  | 2442304 | 144515 | SH |  | SOLE |  | 0 | 0 | 144515 |
| SONY GROUP CORP - SP ADR | ADR | 835699307 |  | 381400 | 5000 | SH |  | DFND |  | 5000 | 0 | 0 |
| SPDR PORT SHRT TRM CORP BND | COM | 78464A474 |  | 1709767 | 58195 | SH |  | SOLE |  | 0 | 0 | 58195 |
| SPDR S 500 ETF TRUST | COM | 78462F103 |  | 632539 | 1654 | SH |  | SOLE |  | 0 | 0 | 1654 |
| SPDR S MIDCAP 400 ETF TRST | COM | 78467Y107 |  | 611050 | 1380 | SH |  | SOLE |  | 0 | 0 | 1380 |
| STANDARD BANK GROUP-SPON ADR | ADR | 853118206 |  | 99960 | 10200 | SH |  | DFND |  | 10200 | 0 | 0 |
| STONE RIDGE REIN RSK PR INT | COM | 861729101 |  | 362036 | 9101 | SH |  | SOLE |  | 0 | 0 | 9101 |
| STRYKER CORP | COM | 863667101 |  | 3338878 | 13657 | SH |  | SOLE |  | 0 | 0 | 13657 |
| SUMMIT MATERIALS INC -CL A | COM | 86614U100 |  | 246428 | 8680 | SH |  | DFND |  | 8680 | 0 | 0 |
| TECHTRONIC INDUSTRIES-SP ADR | ADR | 87873R101 |  | 249930 | 4500 | SH |  | DFND |  | 4500 | 0 | 0 |
| TECNOGLASS INC | COM | G87264100 |  | 788758 | 25634 | SH |  | DFND |  | 25634 | 0 | 0 |
| THERMO FISHER SCIENTIFIC INC | COM | 883556102 |  | 743432 | 1350 | SH |  | DFND |  | 1350 | 0 | 0 |
| ULTRA CLEAN HOLDINGS INC | COM | 90385V107 |  | 1586725 | 47865 | SH |  | SOLE |  | 0 | 0 | 47865 |
| UNILEVER PLC-SPONSORED ADR | ADR | 904767704 |  | 453150 | 9000 | SH |  | DFND |  | 9000 | 0 | 0 |
| VALMONT INDUSTRIES | COM | 920253101 |  | 5009962 | 15151 | SH |  | SOLE |  | 0 | 0 | 15151 |
| VANGUARD ENERGY ETF | COM | 92204A306 |  | 1764381 | 14548 | SH |  | SOLE |  | 0 | 0 | 14548 |
| VANGUARD FTSE DEVELOPED ETF | COM | 921943858 |  | 7874608 | 187625 | SH |  | SOLE |  | 0 | 0 | 187625 |
| VANGUARD FTSE EMERGING MARKE | COM | 922042858 |  | 1105860 | 28370 | SH |  | SOLE |  | 0 | 0 | 28370 |
| VANGUARD HIGH DVD YIELD ETF | COM | 921946406 |  | 1387256 | 12820 | SH |  | SOLE |  | 0 | 0 | 12820 |
| VANGUARD INFO TECH ETF | COM | 92204A702 |  | 7325361 | 22934 | SH |  | SOLE |  | 0 | 0 | 22934 |
| VANGUARD S/T CORP BOND ETF | COM | 92206C409 |  | 3828524 | 50918 | SH |  | SOLE |  | 0 | 0 | 50918 |
| VERITEX HOLDINGS INC | COM | 923451108 |  | 331176 | 11794 | SH |  | SOLE |  | 0 | 0 | 11794 |
| VERIZON COMMUNICATIONS INC | COM | 92343V104 |  | 570423 | 14478 | SH |  | SOLE |  | 0 | 0 | 14478 |
| VISA INC-CLASS A SHARES | COM | 92826C839 |  | 508181 | 2446 | SH |  | SOLE |  | 0 | 0 | 2446 |
| VMWARE INC-CLASS A | COM | 928563402 |  | 1032166 | 8408 | SH |  | SOLE |  | 0 | 0 | 8408 |
| VOYA FINANCIAL INC | COM | 929089100 |  | 2576585 | 41903 | SH |  | SOLE |  | 0 | 0 | 41903 |
| WALT DISNEY CO/THE | COM | 254687106 |  | 260640 | 3000 | SH |  | DFND |  | 3000 | 0 | 0 |
| WASTE MANAGEMENT INC | COM | 94106L109 |  | 695292 | 4432 | SH |  | SOLE |  | 0 | 0 | 4432 |
| WESTERN ASSET GL CORP DEF OP | COM | 95790C107 |  | 2868181 | 224603 | SH |  | SOLE |  | 0 | 0 | 224603 |
| WESTERN ASSET HI INC OPPORT | COM | 95766K109 |  | 3637046 | 920771 | SH |  | SOLE |  | 0 | 0 | 920771 |
| WILLIAMS COS INC | COM | 969457100 |  | 1525474 | 46367 | SH |  | SOLE |  | 0 | 0 | 46367 |

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