# EDGAR Filing Document

**Accession Number:** 0001637689
**File Stem:** 0001172661-25-005308
**Filing Date:** 2025-12
**Character Count:** 29913
**Document Hash:** ee233404ebd51c564583d2af135f28de
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001172661-25-005308.hdr.sgml**: 20251229

**ACCESSION NUMBER**: 0001172661-25-005308

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

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20150331

**FILED AS OF DATE**: 20251229

**DATE AS OF CHANGE**: 20251229

**EFFECTIVENESS DATE**: 20251229

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Swiss Life Asset Management Ltd
- **CENTRAL INDEX KEY:** 0001637689

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** V8
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-25895
- **FILM NUMBER:** 251607842

**BUSINESS ADDRESS:**
- **ADDRESS IS A NON US LOCATION:** YES
- **STREET 1:** GENERAL GUISAN-QUAI 40
- **CITY:** ZURICH
- **PROVINCE COUNTRY:** V8
- **ZIP:** 8002
- **BUSINESS PHONE:** 0042432845424

**MAIL ADDRESS:**
- **ADDRESS IS A NON US LOCATION:** YES
- **STREET 1:** GENERAL GUISAN-QUAI 40
- **CITY:** ZURICH
- **PROVINCE COUNTRY:** V8
- **ZIP:** 8002

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 03-31-2015

**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:** Swiss Life Asset Management Ltd<br>**Address:** General Guisan-quai 40<br>Zurich, V8 8002

**Form 13F File Number:** 028-25895

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:** Philipp Menzi<br>**Title:** Deputy Head Operations CH<br>**Phone:** 41-43-547-73-50

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

/s/ Philipp Menzi  Zurich, V8  12-29-2025<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:** 1

**Form 13F Information Table Entry Total:** 273

**Form 13F Information Table Value Total:** $2479426789

      (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.]

| No.   | Name                             | Form 13F File Number   |
|:---|:---|:---|
|  | Swiss Life Asset Managers France | 028-25896              |

### 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 |  | 12900575 | 78209 | SH |  | SOLE |  | 78209 | 0 | 0 |
| ABBOTT LABS | COM | 002824100 |  | 292389 | 6311 | SH |  | SOLE |  | 6311 | 0 | 0 |
| ABBVIE INC | COM | 00287Y109 |  | 8027883 | 137135 | SH |  | SOLE |  | 137135 | 0 | 0 |
| ACE LTD | SHS | H0023R105 |  | 2841657 | 25488 | SH |  | SOLE |  | 25488 | 0 | 0 |
| AETNA INC NEW | COM | 00817Y108 |  | 1325553 | 12443 | SH |  | SOLE |  | 12443 | 0 | 0 |
| AGNICO EAGLE MINES LTD | COM | 008474108 |  | 2542256 | 91599 | SH |  | DFND | 1 | 91599 | 0 | 0 |
| ALEXION PHARMACEUTICALS INC | COM | 015351109 |  | 5298474 | 30574 | SH |  | SOLE |  | 30574 | 0 | 0 |
| ALLSTATE CORP | COM | 020002101 |  | 668215 | 9389 | SH |  | SOLE |  | 9389 | 0 | 0 |
| ALTRIA GROUP INC | COM | 02209S103 |  | 11350138 | 226912 | SH |  | SOLE |  | 226912 | 0 | 0 |
| AMAZON COM INC | COM | 023135106 |  | 10419 | 28 | SH |  | DFND | 1 | 28 | 0 | 0 |
| AMAZON COM INC | COM | 023135106 |  | 12304975 | 33069 | SH |  | SOLE |  | 33069 | 0 | 0 |
| AMERICAN ELEC PWR INC | COM | 025537101 |  | 12421350 | 220824 | SH |  | SOLE |  | 220824 | 0 | 0 |
| AMERICAN EXPRESS CO | COM | 025816109 |  | 6242491 | 79909 | SH |  | SOLE |  | 79909 | 0 | 0 |
| AMERICAN INTL GROUP INC | COM NEW | 026874784 |  | 19938848 | 363914 | SH |  | SOLE |  | 363914 | 0 | 0 |
| AMERICAN WTR WKS CO INC NEW | COM | 030420103 |  | 2290846 | 42306 | SH |  | DFND | 1 | 42306 | 0 | 0 |
| AMERIPRISE FINL INC | COM | 03076C106 |  | 9475433 | 72420 | SH |  | SOLE |  | 72420 | 0 | 0 |
| AMERISOURCEBERGEN CORP | COM | 03073E105 |  | 1675950 | 14744 | SH |  | SOLE |  | 14744 | 0 | 0 |
| AMGEN INC | COM | 031162100 |  | 15588092 | 97517 | SH |  | SOLE |  | 97517 | 0 | 0 |
| AMPHENOL CORP NEW | CL A | 032095101 |  | 367016 | 6228 | SH |  | SOLE |  | 6228 | 0 | 0 |
| ANTHEM INC | COM | 036752103 |  | 1144178 | 7410 | SH |  | SOLE |  | 7410 | 0 | 0 |
| APPLE INC | COM | 037833100 |  | 57357377 | 460961 | SH |  | SOLE |  | 460961 | 0 | 0 |
| ARCHER DANIELS MIDLAND CO | COM | 039483102 |  | 292505 | 6171 | SH |  | SOLE |  | 6171 | 0 | 0 |
| AT INC | COM | 00206R102 |  | 4196766 | 128538 | SH |  | SOLE |  | 128538 | 0 | 0 |
| AUTOMATIC DATA PROCESSING IN | COM | 053015103 |  | 9238501 | 107876 | SH |  | SOLE |  | 107876 | 0 | 0 |
| AVALONBAY CMNTYS INC | COM | 053484101 |  | 2366456 | 13596 | SH |  | DFND | 1 | 13596 | 0 | 0 |
| AVALONBAY CMNTYS INC | COM | 053484101 |  | 1416304 | 8128 | SH |  | SOLE |  | 8128 | 0 | 0 |
| AVERY DENNISON CORP | COM | 053611109 |  | 233280 | 4409 | SH |  | SOLE |  | 4409 | 0 | 0 |
| AXIS CAPITAL HOLDINGS LTD | SHS | G0692U109 |  | 2318146 | 44993 | SH |  | DFND | 1 | 44993 | 0 | 0 |
| BANK AMER CORP | COM | 060505104 |  | 14157661 | 919926 | SH |  | SOLE |  | 919926 | 0 | 0 |
| BANK NEW YORK MELLON CORP | COM | 064058100 |  | 1885848 | 46865 | SH |  | SOLE |  | 46865 | 0 | 0 |
| BAXTER INTL INC | COM | 071813109 |  | 2112301 | 30871 | SH |  | DFND | 1 | 30871 | 0 | 0 |
| BCE INC | COM NEW | 05534B760 |  | 2103116 | 49731 | SH |  | DFND | 1 | 49731 | 0 | 0 |
| BECTON DICKINSON  CO | COM | 075887109 |  | 13851984 | 96469 | SH |  | SOLE |  | 96469 | 0 | 0 |
| BED BATH  BEYOND INC | COM | 075896100 |  | 370593 | 4827 | SH |  | SOLE |  | 4827 | 0 | 0 |
| BERKSHIRE HATHAWAY INC DEL | CL B NEW | 084670702 |  | 10578945 | 73302 | SH |  | SOLE |  | 73302 | 0 | 0 |
| BEST BUY INC | COM | 086516101 |  | 376842 | 9972 | SH |  | SOLE |  | 9972 | 0 | 0 |
| BIOGEN INC | COM | 09062X103 |  | 8326151 | 19719 | SH |  | SOLE |  | 19719 | 0 | 0 |
| BLACKROCK INC | COM | 09247X101 |  | 7116320 | 19452 | SH |  | SOLE |  | 19452 | 0 | 0 |
| BOEING CO | COM | 097023105 |  | 7620462 | 50776 | SH |  | SOLE |  | 50776 | 0 | 0 |
| BRISTOL MYERS SQUIBB CO | COM | 110122108 |  | 9075086 | 140699 | SH |  | SOLE |  | 140699 | 0 | 0 |
| BROADCOM CORP | CL A | 111320107 |  | 525125 | 12129 | SH |  | SOLE |  | 12129 | 0 | 0 |
| CAMPBELL SOUP CO | COM | 134429109 |  | 626330 | 13455 | SH |  | SOLE |  | 13455 | 0 | 0 |
| CAPITAL ONE FINL CORP | COM | 14040H105 |  | 218489 | 2772 | SH |  | SOLE |  | 2772 | 0 | 0 |
| CARDINAL HEALTH INC | COM | 14149Y108 |  | 953161 | 10559 | SH |  | SOLE |  | 10559 | 0 | 0 |
| CATERPILLAR INC DEL | COM | 149123101 |  | 270741 | 3383 | SH |  | SOLE |  | 3383 | 0 | 0 |
| CELGENE CORP | COM | 151020104 |  | 9265169 | 80371 | SH |  | SOLE |  | 80371 | 0 | 0 |
| CHEVRON CORP NEW | COM | 166764100 |  | 4244971 | 40436 | SH |  | SOLE |  | 40436 | 0 | 0 |
| CHEVRON CORP NEW | COM | 166764100 |  | 2269334 | 21641 | SH |  | DFND | 1 | 21641 | 0 | 0 |
| CHUBB CORP | COM | 171232101 |  | 4409072 | 43611 | SH |  | SOLE |  | 43611 | 0 | 0 |
| CIGNA CORPORATION | COM | 125509109 |  | 1168584 | 9028 | SH |  | SOLE |  | 9028 | 0 | 0 |
| CISCO SYS INC | COM | 17275R102 |  | 10229529 | 371645 | SH |  | SOLE |  | 371645 | 0 | 0 |
| CISCO SYS INC | COM | 17275R102 |  | 415655 | 15101 | SH |  | DFND | 1 | 15101 | 0 | 0 |
| CITIGROUP INC | COM NEW | 172967424 |  | 13974645 | 271247 | SH |  | SOLE |  | 271247 | 0 | 0 |
| CITIGROUP INC | COM NEW | 172967424 |  | 32509 | 631 | SH |  | DFND | 1 | 631 | 0 | 0 |
| CLOROX CO DEL | COM | 189054109 |  | 2455859 | 22272 | SH |  | DFND | 1 | 22272 | 0 | 0 |
| CLOROX CO DEL | COM | 189054109 |  | 1408024 | 12755 | SH |  | SOLE |  | 12755 | 0 | 0 |
| CME GROUP INC | COM | 12572Q105 |  | 1444328 | 15250 | SH |  | SOLE |  | 15250 | 0 | 0 |
| COCA COLA CO | COM | 191216100 |  | 2193775 | 54161 | SH |  | DFND | 1 | 54161 | 0 | 0 |
| COCA COLA CO | COM | 191216100 |  | 2620625 | 64627 | SH |  | SOLE |  | 64627 | 0 | 0 |
| COLGATE PALMOLIVE CO | COM | 194162103 |  | 2237941 | 32311 | SH |  | DFND | 1 | 32311 | 0 | 0 |
| COMCAST CORP NEW | CL A | 20030N101 |  | 13536932 | 239719 | SH |  | SOLE |  | 239719 | 0 | 0 |
| CONOCOPHILLIPS | COM | 20825C104 |  | 4056613 | 65156 | SH |  | SOLE |  | 65156 | 0 | 0 |
| CONSOLIDATED EDISON INC | COM | 209115104 |  | 1142103 | 18723 | SH |  | SOLE |  | 18723 | 0 | 0 |
| CONSTELLATION BRANDS INC | CL A | 21036P108 |  | 200230 | 1723 | SH |  | SOLE |  | 1723 | 0 | 0 |
| CORNING INC | COM | 219350105 |  | 824327 | 36346 | SH |  | SOLE |  | 36346 | 0 | 0 |
| CSX CORP | COM | 126408103 |  | 6388484 | 192889 | SH |  | SOLE |  | 192889 | 0 | 0 |
| CVS HEALTH CORP | COM | 126650100 |  | 7814545 | 75715 | SH |  | SOLE |  | 75715 | 0 | 0 |
| DANAHER CORP DEL | COM | 235851102 |  | 12221185 | 143948 | SH |  | SOLE |  | 143948 | 0 | 0 |
| DARDEN RESTAURANTS INC | COM | 237194105 |  | 275627 | 3975 | SH |  | SOLE |  | 3975 | 0 | 0 |
| DEERE  CO | COM | 244199105 |  | 1452059 | 16559 | SH |  | SOLE |  | 16559 | 0 | 0 |
| DIRECTV | COM | 25490A309 |  | 1943088 | 22833 | SH |  | SOLE |  | 22833 | 0 | 0 |
| DISNEY WALT CO | COM DISNEY | 254687106 |  | 16530244 | 157596 | SH |  | SOLE |  | 157596 | 0 | 0 |
| DOLLAR GEN CORP NEW | COM | 256677105 |  | 1795099 | 23814 | SH |  | SOLE |  | 23814 | 0 | 0 |
| DOLLAR TREE INC | COM | 256746108 |  | 840662 | 10360 | SH |  | SOLE |  | 10360 | 0 | 0 |
| DOW CHEM CO | COM | 260543103 |  | 7495148 | 156214 | SH |  | SOLE |  | 156214 | 0 | 0 |
| DR PEPPER SNAPPLE GROUP INC | COM | 26138E109 |  | 495444 | 6313 | SH |  | SOLE |  | 6313 | 0 | 0 |
| DU PONT E I DE NEMOURS  CO | COM | 263534109 |  | 9717561 | 135967 | SH |  | SOLE |  | 135967 | 0 | 0 |
| DUKE ENERGY CORP NEW | COM NEW | 26441C204 |  | 17590605 | 229104 | SH |  | SOLE |  | 229104 | 0 | 0 |
| E M C CORP MASS | COM | 268648102 |  | 5495 | 215 | SH |  | DFND | 1 | 215 | 0 | 0 |
| E M C CORP MASS | COM | 268648102 |  | 754889 | 29534 | SH |  | SOLE |  | 29534 | 0 | 0 |
| ECOLAB INC | COM | 278865100 |  | 8923241 | 78014 | SH |  | SOLE |  | 78014 | 0 | 0 |
| EDISON INTL | COM | 281020107 |  | 481331 | 7705 | SH |  | SOLE |  | 7705 | 0 | 0 |
| EDISON INTL | COM | 281020107 |  | 144020 | 2308 | SH |  | DFND | 1 | 2308 | 0 | 0 |
| EDWARDS LIFESCIENCES CORP | COM | 28176E108 |  | 490490 | 3443 | SH |  | SOLE |  | 3443 | 0 | 0 |
| ELECTRONIC ARTS INC | COM | 285512109 |  | 225732 | 3838 | SH |  | SOLE |  | 3838 | 0 | 0 |
| ENBRIDGE INC | COM | 29250N105 |  | 409900 | 8513 | SH |  | DFND | 1 | 8513 | 0 | 0 |
| ENSCO PLC | SHS CLASS A | G3157S106 |  | 114935 | 5461 | SH |  | DFND | 1 | 5461 | 0 | 0 |
| ENSCO PLC | SHS CLASS A | G3157S106 |  | 90643 | 4302 | SH |  | SOLE |  | 4302 | 0 | 0 |
| ENTERGY CORP NEW | COM | 29364G103 |  | 541578 | 6989 | SH |  | SOLE |  | 6989 | 0 | 0 |
| EOG RES INC | COM | 26875P101 |  | 4758986 | 51903 | SH |  | SOLE |  | 51903 | 0 | 0 |
| EQUITY RESIDENTIAL | SH BEN INT | 29476L107 |  | 2382498 | 30634 | SH |  | DFND | 1 | 30634 | 0 | 0 |
| EQUITY RESIDENTIAL | SH BEN INT | 29476L107 |  | 114298 | 1468 | SH |  | SOLE |  | 1468 | 0 | 0 |
| ESSEX PPTY TR INC | COM | 297178105 |  | 721196 | 3137 | SH |  | SOLE |  | 3137 | 0 | 0 |
| EVERSOURCE ENERGY | COM | 30040W108 |  | 2186233 | 43323 | SH |  | DFND | 1 | 43323 | 0 | 0 |
| EXPRESS SCRIPTS HLDG CO | COM | 30219G108 |  | 2061135 | 23754 | SH |  | SOLE |  | 23754 | 0 | 0 |
| EXXON MOBIL CORP | COM | 30231G102 |  | 2171956 | 25581 | SH |  | DFND | 1 | 25581 | 0 | 0 |
| EXXON MOBIL CORP | COM | 30231G102 |  | 47095270 | 554062 | SH |  | SOLE |  | 554062 | 0 | 0 |
| FACEBOOK INC | CL A | 30303M102 |  | 14129305 | 171858 | SH |  | SOLE |  | 171858 | 0 | 0 |
| FAMILY DLR STORES INC | COM | 307000109 |  | 1839319 | 23212 | SH |  | SOLE |  | 23212 | 0 | 0 |
| FIDELITY NATL INFORMATION SV | COM | 31620M106 |  | 378277 | 5558 | SH |  | SOLE |  | 5558 | 0 | 0 |
| FISERV INC | COM | 337738108 |  | 396365 | 4992 | SH |  | SOLE |  | 4992 | 0 | 0 |
| FORD MTR CO DEL | COM PAR $0.01 | 345370860 |  | 493739 | 30591 | SH |  | SOLE |  | 30591 | 0 | 0 |
| FRANKLIN RES INC | COM | 354613101 |  | 6364245 | 124011 | SH |  | SOLE |  | 124011 | 0 | 0 |
| FRONTIER COMMUNICATIONS CORP | COM | 35906A108 |  | 363653 | 51582 | SH |  | SOLE |  | 51582 | 0 | 0 |
| GENERAL DYNAMICS CORP | COM | 369550108 |  | 252594 | 1861 | SH |  | SOLE |  | 1861 | 0 | 0 |
| GENERAL ELECTRIC CO | COM | 369604103 |  | 16791085 | 676787 | SH |  | SOLE |  | 676787 | 0 | 0 |
| GENERAL ELECTRIC CO | COM | 369604103 |  | 78565 | 3158 | SH |  | DFND | 1 | 3158 | 0 | 0 |
| GENERAL MLS INC | COM | 370334104 |  | 1836540 | 32484 | SH |  | DFND | 1 | 32484 | 0 | 0 |
| GENERAL MLS INC | COM | 370334104 |  | 10701588 | 189074 | SH |  | SOLE |  | 189074 | 0 | 0 |
| GENWORTH FINL INC | COM CL A | 37247D106 |  | 100162 | 13702 | SH |  | SOLE |  | 13702 | 0 | 0 |
| GILEAD SCIENCES INC | COM | 375558103 |  | 12502155 | 127404 | SH |  | SOLE |  | 127404 | 0 | 0 |
| GLOBAL X FDS | GLBX MSCI COLUM | 37950E200 |  | 241941 | 23064 | SH |  | SOLE |  | 23064 | 0 | 0 |
| GOLDCORP INC NEW | COM | 380956409 |  | 2129929 | 117826 | SH |  | DFND | 1 | 117826 | 0 | 0 |
| GOLDMAN SACHS GROUP INC | COM | 38141G104 |  | 11456959 | 60951 | SH |  | SOLE |  | 60951 | 0 | 0 |
| GOOGLE INC | CL C | 38259P706 |  | 15128636 | 27607 | SH |  | SOLE |  | 27607 | 0 | 0 |
| GOOGLE INC | CL A | 38259P508 |  | 15209319 | 27419 | SH |  | SOLE |  | 27419 | 0 | 0 |
| GOOGLE INC | CL A | 38259P508 |  | 93744 | 169 | SH |  | DFND | 1 | 169 | 0 | 0 |
| HARTFORD FINL SVCS GROUP INC | COM | 416515104 |  | 403438 | 9647 | SH |  | SOLE |  | 9647 | 0 | 0 |
| HCA HOLDINGS INC | COM | 40412C101 |  | 326047 | 4334 | SH |  | SOLE |  | 4334 | 0 | 0 |
| HEALTH CARE REIT INC | COM | 42217K106 |  | 1295238 | 16743 | SH |  | SOLE |  | 16743 | 0 | 0 |
| HEALTH CARE REIT INC | COM | 42217K106 |  | 149679 | 1937 | SH |  | DFND | 1 | 1937 | 0 | 0 |
| HEWLETT PACKARD CO | COM | 428236103 |  | 420068 | 13481 | SH |  | SOLE |  | 13481 | 0 | 0 |
| HOME DEPOT INC | COM | 437076102 |  | 18556717 | 163337 | SH |  | SOLE |  | 163337 | 0 | 0 |
| HONEYWELL INTL INC | COM | 438516106 |  | 19164042 | 183722 | SH |  | SOLE |  | 183722 | 0 | 0 |
| HOST HOTELS  RESORTS INC | COM | 44107P104 |  | 127375 | 6319 | SH |  | DFND | 1 | 6319 | 0 | 0 |
| HOST HOTELS  RESORTS INC | COM | 44107P104 |  | 90588 | 4489 | SH |  | SOLE |  | 4489 | 0 | 0 |
| HUMANA INC | COM | 444859102 |  | 754627 | 4239 | SH |  | SOLE |  | 4239 | 0 | 0 |
| ILLINOIS TOOL WKS INC | COM | 452308109 |  | 14486197 | 149127 | SH |  | SOLE |  | 149127 | 0 | 0 |
| INTEL CORP | COM | 458140100 |  | 529432 | 16931 | SH |  | DFND | 1 | 16931 | 0 | 0 |
| INTEL CORP | COM | 458140100 |  | 13971248 | 446794 | SH |  | SOLE |  | 446794 | 0 | 0 |
| INTERNATIONAL BUSINESS MACHS | COM | 459200101 |  | 10800687 | 67294 | SH |  | SOLE |  | 67294 | 0 | 0 |
| INTUITIVE SURGICAL INC | COM NEW | 46120E602 |  | 1763565 | 3492 | SH |  | SOLE |  | 3492 | 0 | 0 |
| IRON MTN INC NEW | COM | 46284V101 |  | 768269 | 21060 | SH |  | SOLE |  | 21060 | 0 | 0 |
| ISHARES | MSCI BRZ CAP ETF | 464286400 |  | 203874 | 6499 | SH |  | SOLE |  | 6499 | 0 | 0 |
| ISHARES | MSCI CH CAP ETF | 464286640 |  | 546856 | 13573 | SH |  | SOLE |  | 13573 | 0 | 0 |
| ISHARES | MSCI THI CAP ETF | 464286624 |  | 749729 | 9446 | SH |  | SOLE |  | 9446 | 0 | 0 |
| ISHARES | MSCI ISR CAP ETF | 464286632 |  | 1352597 | 26830 | SH |  | DFND | 1 | 26830 | 0 | 0 |
| ISHARES | MSCI STH AFR ETF | 464286780 |  | 371224 | 5539 | SH |  | SOLE |  | 5539 | 0 | 0 |
| ISHARES | MSCI MEX CAP ETF | 464286822 |  | 285105 | 4919 | SH |  | SOLE |  | 4919 | 0 | 0 |
| ISHARES TR | MSCI INDONIA ETF | 46429B309 |  | 504162 | 18168 | SH |  | SOLE |  | 18168 | 0 | 0 |
| ISHARES TR | MSCI EMG MKT ETF | 464287234 |  | 373209000 | 9300000 | SH | Put | SOLE |  | 9300000 | 0 | 0 |
| ISHARES TR | CORE S ETF | 464287200 |  | 561141 | 2700 | SH |  | SOLE |  | 2700 | 0 | 0 |
| ISHARES TR | CORE MSCI PAC | 46434V696 |  | 1282000 | 25000 | SH |  | SOLE |  | 25000 | 0 | 0 |
| ISHARES TR | MSCI PHILIPS ETF | 46429B408 |  | 899475 | 21622 | SH |  | SOLE |  | 21622 | 0 | 0 |
| ISHARES TR | MSCI EMG MKT ETF | 464287234 |  | 569846000 | 14200000 | SH | Call | SOLE |  | 14200000 | 0 | 0 |
| ISHARES TR | MSCI EMG MKT ETF | 464287234 |  | 170552500 | 4250000 | SH |  | SOLE |  | 4250000 | 0 | 0 |
| ISHARES TR | USA MIN VOL ETF | 46429B697 |  | 12918506 | 313100 | SH |  | SOLE |  | 313100 | 0 | 0 |
| JACOBS ENGR GROUP INC DEL | COM | 469814107 |  | 358345 | 7935 | SH |  | SOLE |  | 7935 | 0 | 0 |
| JOHNSON  JOHNSON | COM | 478160104 |  | 32887850 | 326917 | SH |  | SOLE |  | 326917 | 0 | 0 |
| JOHNSON  JOHNSON | COM | 478160104 |  | 2131744 | 21214 | SH |  | DFND | 1 | 21214 | 0 | 0 |
| JPMORGAN CHASE  CO | COM | 46625H100 |  | 20756949 | 342637 | SH |  | SOLE |  | 342637 | 0 | 0 |
| KIMBERLY CLARK CORP | COM | 494368103 |  | 2103751 | 19663 | SH |  | DFND | 1 | 19663 | 0 | 0 |
| KIMBERLY CLARK CORP | COM | 494368103 |  | 88044 | 822 | SH |  | SOLE |  | 822 | 0 | 0 |
| KOHLS CORP | COM | 500255104 |  | 552836 | 7065 | SH |  | SOLE |  | 7065 | 0 | 0 |
| KROGER CO | COM | 501044101 |  | 1861305 | 24280 | SH |  | SOLE |  | 24280 | 0 | 0 |
| L-3 COMMUNICATIONS HLDGS INC | COM | 502424104 |  | 383785 | 3051 | SH |  | SOLE |  | 3051 | 0 | 0 |
| LABORATORY CORP AMER HLDGS | COM NEW | 50540R409 |  | 383188 | 3039 | SH |  | SOLE |  | 3039 | 0 | 0 |
| LAM RESEARCH CORP | COM | 512807108 |  | 331018 | 4713 | SH |  | SOLE |  | 4713 | 0 | 0 |
| LEVEL 3 COMMUNICATIONS INC | COM NEW | 52729N308 |  | 332893 | 6183 | SH |  | SOLE |  | 6183 | 0 | 0 |
| LILLY ELI  CO | COM | 532457108 |  | 1145473 | 15767 | SH |  | SOLE |  | 15767 | 0 | 0 |
| LINCOLN NATL CORP IND | COM | 534187109 |  | 286036 | 4978 | SH |  | SOLE |  | 4978 | 0 | 0 |
| LOCKHEED MARTIN CORP | COM | 539830109 |  | 248220 | 1223 | SH |  | SOLE |  | 1223 | 0 | 0 |
| LORILLARD INC | COM | 544147101 |  | 154184 | 2362 | SH |  | DFND | 1 | 2362 | 0 | 0 |
| LORILLARD INC | COM | 544147101 |  | 1734781 | 26546 | SH |  | SOLE |  | 26546 | 0 | 0 |
| MACYS INC | COM | 55616P104 |  | 350254 | 5396 | SH |  | SOLE |  | 5396 | 0 | 0 |
| MALLINCKRODT PUB LTD CO | SHS | G5785G107 |  | 223284 | 1763 | SH |  | SOLE |  | 1763 | 0 | 0 |
| MARRIOTT INTL INC NEW | CL A | 571903202 |  | 5903761 | 73503 | SH |  | SOLE |  | 73503 | 0 | 0 |
| MASCO CORP | COM | 574599106 |  | 264731 | 9915 | SH |  | SOLE |  | 9915 | 0 | 0 |
| MASTERCARD INC | CL A | 57636Q104 |  | 12074644 | 139769 | SH |  | SOLE |  | 139769 | 0 | 0 |
| MCDONALDS CORP | COM | 580135101 |  | 20462 | 210 | SH |  | DFND | 1 | 210 | 0 | 0 |
| MCDONALDS CORP | COM | 580135101 |  | 6267828 | 64325 | SH |  | SOLE |  | 64325 | 0 | 0 |
| MCKESSON CORP | COM | 58155Q103 |  | 739900 | 3271 | SH |  | SOLE |  | 3271 | 0 | 0 |
| MEDTRONIC PLC | SHS | G5960L103 |  | 8744941 | 112129 | SH |  | SOLE |  | 112129 | 0 | 0 |
| MERCK  CO INC NEW | COM | 58933Y105 |  | 24204253 | 421090 | SH |  | SOLE |  | 421090 | 0 | 0 |
| METLIFE INC | COM | 59156R108 |  | 11574939 | 228980 | SH |  | SOLE |  | 228980 | 0 | 0 |
| MICHAEL KORS HLDGS LTD | SHS | G60754101 |  | 815169 | 12398 | SH |  | SOLE |  | 12398 | 0 | 0 |
| MICRON TECHNOLOGY INC | COM | 595112103 |  | 2361802 | 87055 | SH |  | SOLE |  | 87055 | 0 | 0 |
| MICROSOFT CORP | COM | 594918104 |  | 26538202 | 652766 | SH |  | SOLE |  | 652766 | 0 | 0 |
| MICROSOFT CORP | COM | 594918104 |  | 821190 | 20199 | SH |  | DFND | 1 | 20199 | 0 | 0 |
| MONDELEZ INTL INC | CL A | 609207105 |  | 7189272 | 199204 | SH |  | SOLE |  | 199204 | 0 | 0 |
| MOSAIC CO NEW | COM | 61945C103 |  | 990060 | 21495 | SH |  | SOLE |  | 21495 | 0 | 0 |
| MOTOROLA SOLUTIONS INC | COM NEW | 620076307 |  | 548947 | 8243 | SH |  | DFND | 1 | 8243 | 0 | 0 |
| NASDAQ OMX GROUP INC | COM | 631103108 |  | 309664 | 6079 | SH |  | SOLE |  | 6079 | 0 | 0 |
| NATIONAL OILWELL VARCO INC | COM | 637071101 |  | 119792 | 2399 | SH |  | DFND | 1 | 2399 | 0 | 0 |
| NATIONAL OILWELL VARCO INC | COM | 637071101 |  | 229704 | 4595 | SH |  | SOLE |  | 4595 | 0 | 0 |
| NEWMONT MINING CORP | COM | 651639106 |  | 587733 | 27072 | SH |  | SOLE |  | 27072 | 0 | 0 |
| NIKE INC | CL B | 654106103 |  | 11949002 | 119097 | SH |  | SOLE |  | 119097 | 0 | 0 |
| NORTHROP GRUMMAN CORP | COM | 666807102 |  | 338660 | 2104 | SH |  | SOLE |  | 2104 | 0 | 0 |
| OCCIDENTAL PETE CORP DEL | COM | 674599105 |  | 3949446 | 54102 | SH |  | SOLE |  | 54102 | 0 | 0 |
| ORACLE CORP | COM | 68389X105 |  | 12488559 | 289422 | SH |  | SOLE |  | 289422 | 0 | 0 |
| PACCAR INC | COM | 693718108 |  | 7524015 | 119164 | SH |  | SOLE |  | 119164 | 0 | 0 |
| PARKER HANNIFIN CORP | COM | 701094104 |  | 5065492 | 42646 | SH |  | SOLE |  | 42646 | 0 | 0 |
| PATTERSON COMPANIES INC | COM | 703395103 |  | 2275898 | 46699 | SH |  | DFND | 1 | 46699 | 0 | 0 |
| PATTERSON COMPANIES INC | COM | 703395103 |  | 703942 | 14428 | SH |  | SOLE |  | 14428 | 0 | 0 |
| PAYCHEX INC | COM | 704326107 |  | 1195920 | 24104 | SH |  | SOLE |  | 24104 | 0 | 0 |
| PEOPLES UNITED FINANCIAL INC | COM | 712704105 |  | 1614772 | 106235 | SH |  | SOLE |  | 106235 | 0 | 0 |
| PEPCO HOLDINGS INC | COM | 713291102 |  | 1805632 | 67299 | SH |  | SOLE |  | 67299 | 0 | 0 |
| PEPSICO INC | COM | 713448108 |  | 2233575 | 23385 | SH |  | DFND | 1 | 23385 | 0 | 0 |
| PEPSICO INC | COM | 713448108 |  | 12290804 | 128538 | SH |  | SOLE |  | 128538 | 0 | 0 |
| PFIZER INC | COM | 717081103 |  | 21305292 | 612397 | SH |  | SOLE |  | 612397 | 0 | 0 |
| PFIZER INC | COM | 717081103 |  | 2487694 | 71586 | SH |  | DFND | 1 | 71586 | 0 | 0 |
| PG CORP | COM | 69331C108 |  | 790053 | 14887 | SH |  | SOLE |  | 14887 | 0 | 0 |
| PHILIP MORRIS INTL INC | COM | 718172109 |  | 9039449 | 119998 | SH |  | SOLE |  | 119998 | 0 | 0 |
| PNC FINL SVCS GROUP INC | COM | 693475105 |  | 4763445 | 51088 | SH |  | SOLE |  | 51088 | 0 | 0 |
| PPL CORP | COM | 69351T106 |  | 10096957 | 299969 | SH |  | SOLE |  | 299969 | 0 | 0 |
| PRAXAIR INC | COM | 74005P104 |  | 15751620 | 130459 | SH |  | SOLE |  | 130459 | 0 | 0 |
| PRAXAIR INC | COM | 74005P104 |  | 143882 | 1193 | SH |  | DFND | 1 | 1193 | 0 | 0 |
| PROCTER  GAMBLE CO | COM | 742718109 |  | 2025012 | 24741 | SH |  | DFND | 1 | 24741 | 0 | 0 |
| PROCTER  GAMBLE CO | COM | 742718109 |  | 21878144 | 267002 | SH |  | SOLE |  | 267002 | 0 | 0 |
| PROGRESSIVE CORP OHIO | COM | 743315103 |  | 566304 | 20820 | SH |  | SOLE |  | 20820 | 0 | 0 |
| PROLOGIS INC | COM | 74340W103 |  | 16424385 | 377052 | SH |  | SOLE |  | 377052 | 0 | 0 |
| PUBLIC STORAGE | COM | 74460D109 |  | 2395332 | 12164 | SH |  | DFND | 1 | 12164 | 0 | 0 |
| QUALCOMM INC | COM | 747525103 |  | 14262683 | 205692 | SH |  | SOLE |  | 205692 | 0 | 0 |
| QUEST DIAGNOSTICS INC | COM | 74834L100 |  | 766950 | 9991 | SH |  | DFND | 1 | 9991 | 0 | 0 |
| QUEST DIAGNOSTICS INC | COM | 74834L100 |  | 1873065 | 24373 | SH |  | SOLE |  | 24373 | 0 | 0 |
| RAYTHEON CO | COM NEW | 755111507 |  | 228770 | 2094 | SH |  | SOLE |  | 2094 | 0 | 0 |
| REPUBLIC SVCS INC | COM | 760759100 |  | 837520 | 20672 | SH |  | DFND | 1 | 20672 | 0 | 0 |
| ROGERS COMMUNICATIONS INC | CL B | 775109200 |  | 1938122 | 57957 | SH |  | DFND | 1 | 57957 | 0 | 0 |
| ROYAL DUTCH SHELL PLC | SPON ADR B | 780259107 |  | 1358019 | 21659 | SH |  | DFND | 1 | 21659 | 0 | 0 |
| RYDEX ETF TRUST | GUG S EQ WT | 78355W106 |  | 607875 | 7500 | SH |  | SOLE |  | 7500 | 0 | 0 |
| SANDISK CORP | COM | 80004C101 |  | 200467 | 3151 | SH |  | SOLE |  | 3151 | 0 | 0 |
| SCHLUMBERGER LTD | COM | 806857108 |  | 7795966 | 93432 | SH |  | SOLE |  | 93432 | 0 | 0 |
| SCHLUMBERGER LTD | COM | 806857108 |  | 1448548 | 17260 | SH |  | DFND | 1 | 17260 | 0 | 0 |
| SCHWAB CHARLES CORP NEW | COM | 808513105 |  | 3398778 | 111655 | SH |  | SOLE |  | 111655 | 0 | 0 |
| SEAGATE TECHNOLOGY PLC | SHS | G7945M107 |  | 307289 | 5906 | SH |  | SOLE |  | 5906 | 0 | 0 |
| SEMPRA ENERGY | COM | 816851109 |  | 2204317 | 20242 | SH |  | DFND | 1 | 20242 | 0 | 0 |
| SIMON PPTY GROUP INC NEW | COM | 828806109 |  | 13420708 | 68599 | SH |  | SOLE |  | 68599 | 0 | 0 |
| SOUTHERN CO | COM | 842587107 |  | 1129317 | 25504 | SH |  | SOLE |  | 25504 | 0 | 0 |
| SPDR S 500 ETF TR | TR UNIT | 78462F103 |  | 41075441 | 198980 | SH |  | SOLE |  | 198980 | 0 | 0 |
| SPECTRA ENERGY CORP | COM | 847560109 |  | 2378230 | 65825 | SH |  | DFND | 1 | 65825 | 0 | 0 |
| STANLEY BLACK  DECKER INC | COM | 854502101 |  | 814374 | 8540 | SH |  | SOLE |  | 8540 | 0 | 0 |
| STAPLES INC | COM | 855030102 |  | 200126 | 12289 | SH |  | SOLE |  | 12289 | 0 | 0 |
| STARBUCKS CORP | COM | 855244109 |  | 5957103 | 62905 | SH |  | SOLE |  | 62905 | 0 | 0 |
| STARWOOD HOTELS WRLD | COM | 85590A401 |  | 9654103 | 115618 | SH |  | SOLE |  | 115618 | 0 | 0 |
| SYSCO CORP | COM | 871829107 |  | 286069 | 7582 | SH |  | SOLE |  | 7582 | 0 | 0 |
| T MOBILE US INC | COM | 872590104 |  | 1072928 | 33857 | SH |  | DFND | 1 | 33857 | 0 | 0 |
| TESORO CORP | COM | 881609101 |  | 244383 | 2677 | SH |  | SOLE |  | 2677 | 0 | 0 |
| TEXAS INSTRS INC | COM | 882508104 |  | 158854 | 2781 | SH |  | DFND | 1 | 2781 | 0 | 0 |
| TEXAS INSTRS INC | COM | 882508104 |  | 10289068 | 179926 | SH |  | SOLE |  | 179926 | 0 | 0 |
| THERMO FISHER SCIENTIFIC INC | COM | 883556102 |  | 14478762 | 107777 | SH |  | SOLE |  | 107777 | 0 | 0 |
| TIME WARNER INC | COM NEW | 887317303 |  | 8068495 | 95553 | SH |  | SOLE |  | 95553 | 0 | 0 |
| TRAVELERS COMPANIES INC | COM | 89417E109 |  | 5411690 | 50048 | SH |  | SOLE |  | 50048 | 0 | 0 |
| TWENTY FIRST CENTY FOX INC | CL A | 90130A101 |  | 6686073 | 197579 | SH |  | SOLE |  | 197579 | 0 | 0 |
| TYSON FOODS INC | CL A | 902494103 |  | 471741 | 12317 | SH |  | SOLE |  | 12317 | 0 | 0 |
| UNDER ARMOUR INC | CL A | 904311107 |  | 3309781 | 40988 | SH |  | SOLE |  | 40988 | 0 | 0 |
| UNION PAC CORP | COM | 907818108 |  | 10715325 | 98932 | SH |  | SOLE |  | 98932 | 0 | 0 |
| UNITED PARCEL SERVICE INC | CL B | 911312106 |  | 3875176 | 39975 | SH |  | SOLE |  | 39975 | 0 | 0 |
| UNITED TECHNOLOGIES CORP | COM | 913017109 |  | 14571359 | 124329 | SH |  | SOLE |  | 124329 | 0 | 0 |
| UNITED TECHNOLOGIES CORP | COM | 913017109 |  | 41723 | 356 | SH |  | DFND | 1 | 356 | 0 | 0 |
| UNITEDHEALTH GROUP INC | COM | 91324P102 |  | 10780123 | 91133 | SH |  | SOLE |  | 91133 | 0 | 0 |
| UNIVERSAL HLTH SVCS INC | CL B | 913903100 |  | 400214 | 3400 | SH |  | SOLE |  | 3400 | 0 | 0 |
| US BANCORP DEL | COM NEW | 902973304 |  | 14768452 | 338183 | SH |  | SOLE |  | 338183 | 0 | 0 |
| VALERO ENERGY CORP NEW | COM | 91913Y100 |  | 332478 | 5226 | SH |  | SOLE |  | 5226 | 0 | 0 |
| VENTAS INC | COM | 92276F100 |  | 991306 | 13591 | SH |  | DFND | 1 | 13591 | 0 | 0 |
| VERIZON COMMUNICATIONS INC | COM | 92343V104 |  | 8383958 | 172403 | SH |  | SOLE |  | 172403 | 0 | 0 |
| VERTEX PHARMACEUTICALS INC | COM | 92532F100 |  | 6263027 | 53090 | SH |  | SOLE |  | 53090 | 0 | 0 |
| VISA INC | COM CL A | 92826C839 |  | 9451222 | 144492 | SH |  | SOLE |  | 144492 | 0 | 0 |
| WAL-MART STORES INC | COM | 931142103 |  | 2845357 | 34594 | SH |  | SOLE |  | 34594 | 0 | 0 |
| WAL-MART STORES INC | COM | 931142103 |  | 1293464 | 15726 | SH |  | DFND | 1 | 15726 | 0 | 0 |
| WASTE MGMT INC DEL | COM | 94106L109 |  | 1716325 | 31649 | SH |  | SOLE |  | 31649 | 0 | 0 |
| WATERS CORP | COM | 941848103 |  | 205750 | 1655 | SH |  | SOLE |  | 1655 | 0 | 0 |
| WELLS FARGO  CO NEW | COM | 949746101 |  | 21994301 | 404307 | SH |  | SOLE |  | 404307 | 0 | 0 |
| WESTERN UN CO | COM | 959802109 |  | 372520 | 17901 | SH |  | SOLE |  | 17901 | 0 | 0 |
| WEYERHAEUSER CO | COM | 962166104 |  | 7481690 | 225692 | SH |  | SOLE |  | 225692 | 0 | 0 |
| WHIRLPOOL CORP | COM | 963320106 |  | 216810 | 1073 | SH |  | SOLE |  | 1073 | 0 | 0 |
| WISCONSIN ENERGY CORP | COM | 976657106 |  | 53411 | 1079 | SH |  | SOLE |  | 1079 | 0 | 0 |
| WISCONSIN ENERGY CORP | COM | 976657106 |  | 1123828 | 22729 | SH |  | DFND | 1 | 22729 | 0 | 0 |
| XEROX CORP | COM | 984121103 |  | 602485 | 46886 | SH |  | SOLE |  | 46886 | 0 | 0 |
| XEROX CORP | COM | 984121103 |  | 141166 | 10998 | SH |  | DFND | 1 | 10998 | 0 | 0 |
| XL GROUP PLC | SHS | G98290102 |  | 1349750 | 36678 | SH |  | SOLE |  | 36678 | 0 | 0 |
| YAMANA GOLD INC | COM | 98462Y100 |  | 624527 | 174416 | SH |  | DFND | 1 | 174416 | 0 | 0 |
| ZIMMER HLDGS INC | COM | 98956P102 |  | 475956 | 4050 | SH |  | SOLE |  | 4050 | 0 | 0 |
| ZOETIS INC | CL A | 98978V103 |  | 258715 | 5589 | SH |  | SOLE |  | 5589 | 0 | 0 |

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