<SEC-DOCUMENT>0001140361-24-006313.txt : 20240208
<SEC-HEADER>0001140361-24-006313.hdr.sgml : 20240208
<ACCEPTANCE-DATETIME>20240208144313
ACCESSION NUMBER:		0001140361-24-006313
CONFORMED SUBMISSION TYPE:	13F-HR
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20231231
FILED AS OF DATE:		20240208
DATE AS OF CHANGE:		20240208
EFFECTIVENESS DATE:		20240208

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ING GROEP NV
		CENTRAL INDEX KEY:			0001039765
		STANDARD INDUSTRIAL CLASSIFICATION:	COMMERCIAL BANKS, NEC [6029]
		ORGANIZATION NAME:           	02 Finance
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			P7
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		13F-HR
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	028-13263
		FILM NUMBER:		24608475

	BUSINESS ADDRESS:	
		STREET 1:		PO BOX 1800
		CITY:			AMSTERDAM
		STATE:			P7
		ZIP:			1000 BV
		BUSINESS PHONE:		01131205639111

	MAIL ADDRESS:	
		STREET 1:		PO BOX 1800
		CITY:			AMSTERDAM
		STATE:			P7
		ZIP:			1000 BV
</SEC-HEADER>
<DOCUMENT>
<TYPE>13F-HR
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
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  <headerData>
    <submissionType>13F-HR</submissionType>
    <filerInfo>
      <liveTestFlag>LIVE</liveTestFlag>
      <filer>
        <credentials>
          <cik>0001039765</cik>
          <ccc>XXXXXXXX</ccc>
        </credentials>
      </filer>
      <periodOfReport>12-31-2023</periodOfReport>
    </filerInfo>
  </headerData>
  <formData>
    <coverPage>
      <reportCalendarOrQuarter>12-31-2023</reportCalendarOrQuarter>
      <isAmendment>false</isAmendment>
      <filingManager>
        <name>ING GROEP NV</name>
        <address>
          <com:street1>PO BOX 1800</com:street1>
          <com:city>AMSTERDAM</com:city>
          <com:stateOrCountry>P7</com:stateOrCountry>
          <com:zipCode>1000 BV</com:zipCode>
        </address>
      </filingManager>
      <reportType>13F HOLDINGS REPORT</reportType>
      <form13FFileNumber>028-13263</form13FFileNumber>
      <provideInfoForInstruction5>N</provideInfoForInstruction5>
    </coverPage>
    <signatureBlock>
      <name>J.A.M Emke-Petrelluzzi Bojanic</name>
      <title>Senior Compliance Officer</title>
      <phone>31-20-576-6541</phone>
      <signature>/s/ J.A.M Emke-Petrelluzzi Bojanic</signature>
      <city>AMSTERDAM</city>
      <stateOrCountry>P7</stateOrCountry>
      <signatureDate>02-08-2024</signatureDate>
    </signatureBlock>
    <summaryPage>
      <otherIncludedManagersCount>0</otherIncludedManagersCount>
      <tableEntryTotal>540</tableEntryTotal>
      <tableValueTotal>12449604647</tableValueTotal>
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<DOCUMENT>
<TYPE>INFORMATION TABLE
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        <nameOfIssuer>3M CO</nameOfIssuer>
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        <nameOfIssuer>AGILENT TECHNOLOGIES INC</nameOfIssuer>
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        <cusip>00846U101</cusip>
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        <nameOfIssuer>AIR PRODS &amp; CHEMS INC</nameOfIssuer>
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        <nameOfIssuer>BROADRIDGE FINL SOLUTIONS IN</nameOfIssuer>
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        <nameOfIssuer>CALUMET SPECIALTY PRODS PART</nameOfIssuer>
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        <nameOfIssuer>CAMDEN PPTY TR</nameOfIssuer>
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        <nameOfIssuer>CARDINAL HEALTH INC</nameOfIssuer>
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        <titleOfClass>COM</titleOfClass>
        <cusip>169656105</cusip>
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        <nameOfIssuer>CINTAS CORP</nameOfIssuer>
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        <cusip>172908105</cusip>
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        <nameOfIssuer>EBAY INC.</nameOfIssuer>
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        <nameOfIssuer>EDWARDS LIFESCIENCES CORP</nameOfIssuer>
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        <nameOfIssuer>FIDELITY NATL INFORMATION SV</nameOfIssuer>
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        <nameOfIssuer>GALLAGHER ARTHUR J &amp; CO</nameOfIssuer>
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        <titleOfClass>COM</titleOfClass>
        <cusip>384109104</cusip>
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        <cusip>384802104</cusip>
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        <cusip>406216101</cusip>
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        <titleOfClass>COM</titleOfClass>
        <cusip>416515104</cusip>
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        <cusip>418100103</cusip>
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            <Sole>56500</Sole>
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        <nameOfIssuer>HAWAIIAN ELEC INDUSTRIES</nameOfIssuer>
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        <nameOfIssuer>HCA HEALTHCARE INC</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>40412C101</cusip>
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            <Sole>62116</Sole>
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        <nameOfIssuer>HEALTHPEAK PROPERTIES INC</nameOfIssuer>
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        <cusip>42250P103</cusip>
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            <None>0</None>
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        <nameOfIssuer>HEICO CORP NEW</nameOfIssuer>
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        <cusip>422806208</cusip>
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            <sshPrnamt>9000</sshPrnamt>
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            <Sole>9000</Sole>
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            <None>0</None>
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        <nameOfIssuer>HENRY JACK &amp; ASSOC INC</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>426281101</cusip>
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            <sshPrnamt>9176</sshPrnamt>
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            <Sole>9176</Sole>
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        <nameOfIssuer>HENRY SCHEIN INC</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>806407102</cusip>
        <value>1353468</value>
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            <sshPrnamt>17877</sshPrnamt>
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            <Sole>17877</Sole>
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        <cusip>427866108</cusip>
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        <nameOfIssuer>HESS CORP</nameOfIssuer>
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        <cusip>42809H107</cusip>
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            <Sole>434646</Sole>
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        <nameOfIssuer>HEWLETT PACKARD ENTERPRISE C</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>42824C109</cusip>
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            <sshPrnamt>464228</sshPrnamt>
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            <Sole>464228</Sole>
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        <nameOfIssuer>HF SINCLAIR CORP</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>403949100</cusip>
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            <sshPrnamt>226453</sshPrnamt>
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        <investmentDiscretion>DFND</investmentDiscretion>
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            <Sole>226453</Sole>
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        <nameOfIssuer>HILTON WORLDWIDE HLDGS INC</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>43300A203</cusip>
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            <sshPrnamt>35107</sshPrnamt>
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            <Sole>35107</Sole>
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        <nameOfIssuer>HOLOGIC INC</nameOfIssuer>
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            <Sole>9633</Sole>
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        <nameOfIssuer>HOME DEPOT INC</nameOfIssuer>
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        <cusip>437076102</cusip>
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        <nameOfIssuer>HONEYWELL INTL INC</nameOfIssuer>
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            <sshPrnamt>222218</sshPrnamt>
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        <nameOfIssuer>HORMEL FOODS CORP</nameOfIssuer>
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        <cusip>440452100</cusip>
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        <nameOfIssuer>HOST HOTELS &amp; RESORTS INC</nameOfIssuer>
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        <nameOfIssuer>HOWMET AEROSPACE INC</nameOfIssuer>
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        <nameOfIssuer>HP INC</nameOfIssuer>
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        <nameOfIssuer>HUBBELL INC</nameOfIssuer>
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        <nameOfIssuer>HUNT J B TRANS SVCS INC</nameOfIssuer>
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        <nameOfIssuer>HUNTINGTON BANCSHARES INC</nameOfIssuer>
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        <nameOfIssuer>HUNTINGTON INGALLS INDS INC</nameOfIssuer>
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        <nameOfIssuer>ILLINOIS TOOL WKS INC</nameOfIssuer>
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        <investmentDiscretion>DFND</investmentDiscretion>
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        <nameOfIssuer>IMAX CORP</nameOfIssuer>
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        <nameOfIssuer>INCYTE CORP</nameOfIssuer>
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        <nameOfIssuer>INGERSOLL RAND INC</nameOfIssuer>
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        <nameOfIssuer>INSULET CORP</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
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            <sshPrnamt>54000</sshPrnamt>
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        <nameOfIssuer>INTERCONTINENTAL EXCHANGE IN</nameOfIssuer>
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        <nameOfIssuer>INTERNATIONAL BUSINESS MACHS</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
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        <titleOfClass>COM</titleOfClass>
        <cusip>64110L106</cusip>
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        <shrsOrPrnAmt>
            <sshPrnamt>136144</sshPrnamt>
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        <investmentDiscretion>DFND</investmentDiscretion>
        <votingAuthority>
            <Sole>136144</Sole>
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            <None>0</None>
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        <nameOfIssuer>NEUROCRINE BIOSCIENCES INC</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>64125C109</cusip>
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            <sshPrnamt>11300</sshPrnamt>
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        <investmentDiscretion>DFND</investmentDiscretion>
        <votingAuthority>
            <Sole>11300</Sole>
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            <None>0</None>
        </votingAuthority>
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        <nameOfIssuer>NEWMONT CORP</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>651639106</cusip>
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            <sshPrnamt>857829</sshPrnamt>
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        <votingAuthority>
            <Sole>857829</Sole>
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            <None>0</None>
        </votingAuthority>
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        <nameOfIssuer>NEWS CORP NEW</nameOfIssuer>
        <titleOfClass>CL A</titleOfClass>
        <cusip>65249B109</cusip>
        <value>1279104</value>
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            <sshPrnamt>52102</sshPrnamt>
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        <investmentDiscretion>DFND</investmentDiscretion>
        <votingAuthority>
            <Sole>52102</Sole>
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            <None>0</None>
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        <nameOfIssuer>NEWS CORP NEW</nameOfIssuer>
        <titleOfClass>CL B</titleOfClass>
        <cusip>65249B208</cusip>
        <value>404241</value>
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            <sshPrnamt>15717</sshPrnamt>
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        <investmentDiscretion>DFND</investmentDiscretion>
        <votingAuthority>
            <Sole>15717</Sole>
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            <None>0</None>
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        <nameOfIssuer>NEXTERA ENERGY INC</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>65339F101</cusip>
        <value>17060955</value>
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            <sshPrnamt>280885</sshPrnamt>
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        <investmentDiscretion>DFND</investmentDiscretion>
        <votingAuthority>
            <Sole>280885</Sole>
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            <None>0</None>
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        <nameOfIssuer>NGL ENERGY PARTNERS LP</nameOfIssuer>
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        <cusip>62913M107</cusip>
        <value>4517270</value>
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            <sshPrnamt>811000</sshPrnamt>
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            <Sole>811000</Sole>
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            <None>0</None>
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        <cusip>654106103</cusip>
        <value>28717091</value>
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            <sshPrnamt>264503</sshPrnamt>
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        <votingAuthority>
            <Sole>264503</Sole>
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        <nameOfIssuer>NISOURCE INC</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>65473P105</cusip>
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            <sshPrnamt>56576</sshPrnamt>
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        <investmentDiscretion>DFND</investmentDiscretion>
        <votingAuthority>
            <Sole>56576</Sole>
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            <None>0</None>
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        <nameOfIssuer>NORFOLK SOUTHN CORP</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>655844108</cusip>
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            <sshPrnamt>189959</sshPrnamt>
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        <investmentDiscretion>DFND</investmentDiscretion>
        <votingAuthority>
            <Sole>189959</Sole>
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            <None>0</None>
        </votingAuthority>
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        <nameOfIssuer>NORTHERN TR CORP</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>665859104</cusip>
        <value>1754007</value>
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            <sshPrnamt>20787</sshPrnamt>
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        <investmentDiscretion>DFND</investmentDiscretion>
        <votingAuthority>
            <Sole>20787</Sole>
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            <None>0</None>
        </votingAuthority>
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        <nameOfIssuer>NORTHROP GRUMMAN CORP</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>666807102</cusip>
        <value>9084257</value>
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            <sshPrnamt>19405</sshPrnamt>
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        <investmentDiscretion>DFND</investmentDiscretion>
        <votingAuthority>
            <Sole>19405</Sole>
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            <None>0</None>
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        <nameOfIssuer>NRG ENERGY INC</nameOfIssuer>
        <titleOfClass>COM NEW</titleOfClass>
        <cusip>629377508</cusip>
        <value>2657794</value>
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            <sshPrnamt>51408</sshPrnamt>
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        <votingAuthority>
            <Sole>51408</Sole>
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            <None>0</None>
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        <nameOfIssuer>NU HLDGS LTD</nameOfIssuer>
        <titleOfClass>ORD SHS CL A</titleOfClass>
        <cusip>G6683N103</cusip>
        <value>5817672</value>
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            <sshPrnamt>698400</sshPrnamt>
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        <investmentDiscretion>DFND</investmentDiscretion>
        <votingAuthority>
            <Sole>698400</Sole>
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            <None>0</None>
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        <nameOfIssuer>NUCOR CORP</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>670346105</cusip>
        <value>5857490</value>
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            <sshPrnamt>33656</sshPrnamt>
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        <investmentDiscretion>DFND</investmentDiscretion>
        <votingAuthority>
            <Sole>33656</Sole>
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            <None>0</None>
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        <nameOfIssuer>NUSTAR ENERGY LP</nameOfIssuer>
        <titleOfClass>UNIT COM</titleOfClass>
        <cusip>67058H102</cusip>
        <value>3297020</value>
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            <sshPrnamt>176500</sshPrnamt>
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        <investmentDiscretion>DFND</investmentDiscretion>
        <votingAuthority>
            <Sole>176500</Sole>
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            <None>0</None>
        </votingAuthority>
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        <nameOfIssuer>NVIDIA CORPORATION</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>67066G104</cusip>
        <value>520784247</value>
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            <sshPrnamt>1051622</sshPrnamt>
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        <investmentDiscretion>DFND</investmentDiscretion>
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            <Sole>1051622</Sole>
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            <None>0</None>
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        <titleOfClass>COM</titleOfClass>
        <cusip>62944T105</cusip>
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            <sshPrnamt>835</sshPrnamt>
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        <investmentDiscretion>DFND</investmentDiscretion>
        <votingAuthority>
            <Sole>835</Sole>
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        <nameOfIssuer>NXP SEMICONDUCTORS N V</nameOfIssuer>
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        <cusip>N6596X109</cusip>
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            <sshPrnamt>68335</sshPrnamt>
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            <Sole>68335</Sole>
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        <nameOfIssuer>OCCIDENTAL PETE CORP</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>674599105</cusip>
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            <sshPrnamt>90533</sshPrnamt>
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        <nameOfIssuer>OLD DOMINION FREIGHT LINE IN</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>679580100</cusip>
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            <Sole>50146</Sole>
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        <titleOfClass>COM</titleOfClass>
        <cusip>681919106</cusip>
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            <sshPrnamt>13398</sshPrnamt>
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        <investmentDiscretion>DFND</investmentDiscretion>
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            <Sole>13398</Sole>
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        <nameOfIssuer>ON SEMICONDUCTOR CORP</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>682189105</cusip>
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            <sshPrnamt>7121</sshPrnamt>
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            <Sole>7121</Sole>
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        <nameOfIssuer>ONEOK INC NEW</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>682680103</cusip>
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            <Sole>851399</Sole>
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        <nameOfIssuer>OREILLY AUTOMOTIVE INC</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>67103H107</cusip>
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        <investmentDiscretion>DFND</investmentDiscretion>
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            <Sole>15634</Sole>
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        <nameOfIssuer>ORGANON &amp; CO</nameOfIssuer>
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        <cusip>68622V106</cusip>
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            <Sole>32000</Sole>
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        <nameOfIssuer>OSHKOSH CORP</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>688239201</cusip>
        <value>1268397</value>
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            <sshPrnamt>11700</sshPrnamt>
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        <investmentDiscretion>DFND</investmentDiscretion>
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            <Sole>11700</Sole>
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        <nameOfIssuer>OTIS WORLDWIDE CORP</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>68902V107</cusip>
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            <sshPrnamt>48129</sshPrnamt>
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            <Sole>48129</Sole>
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        <nameOfIssuer>OVINTIV INC</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>69047Q102</cusip>
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        <investmentDiscretion>DFND</investmentDiscretion>
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            <None>0</None>
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        <nameOfIssuer>OWENS CORNING NEW</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>690742101</cusip>
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        <investmentDiscretion>DFND</investmentDiscretion>
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        <nameOfIssuer>PACCAR INC</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
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        <value>23556402</value>
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            <sshPrnamt>241233</sshPrnamt>
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        <nameOfIssuer>PACKAGING CORP AMER</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>695156109</cusip>
        <value>1233229</value>
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            <sshPrnamt>7570</sshPrnamt>
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        <investmentDiscretion>DFND</investmentDiscretion>
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        <nameOfIssuer>PARAMOUNT GLOBAL</nameOfIssuer>
        <titleOfClass>CLASS B COM</titleOfClass>
        <cusip>92556H206</cusip>
        <value>1037519</value>
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            <sshPrnamt>70150</sshPrnamt>
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        <investmentDiscretion>DFND</investmentDiscretion>
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            <Sole>70150</Sole>
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            <None>0</None>
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        <nameOfIssuer>PARK HOTELS &amp; RESORTS INC</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>700517105</cusip>
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        <investmentDiscretion>DFND</investmentDiscretion>
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            <Sole>97200</Sole>
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            <None>0</None>
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        <nameOfIssuer>PARKER-HANNIFIN CORP</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>701094104</cusip>
        <value>3081622</value>
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            <sshPrnamt>6689</sshPrnamt>
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        <investmentDiscretion>DFND</investmentDiscretion>
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            <Sole>6689</Sole>
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            <None>0</None>
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        <nameOfIssuer>PAYCHEX INC</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>704326107</cusip>
        <value>10246200</value>
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            <sshPrnamt>86023</sshPrnamt>
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            <Sole>86023</Sole>
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            <None>0</None>
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        <nameOfIssuer>PAYCOM SOFTWARE INC</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>70432V102</cusip>
        <value>1388125</value>
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            <sshPrnamt>6715</sshPrnamt>
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        <investmentDiscretion>DFND</investmentDiscretion>
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            <Sole>6715</Sole>
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            <None>0</None>
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        <nameOfIssuer>PAYPAL HLDGS INC</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>70450Y103</cusip>
        <value>2479306</value>
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        <investmentDiscretion>DFND</investmentDiscretion>
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            <Sole>40373</Sole>
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            <None>0</None>
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        <nameOfIssuer>PDD HOLDINGS INC</nameOfIssuer>
        <titleOfClass>SPONSORED ADS</titleOfClass>
        <cusip>722304102</cusip>
        <value>303154</value>
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            <sshPrnamt>2072</sshPrnamt>
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        <investmentDiscretion>DFND</investmentDiscretion>
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            <Sole>2072</Sole>
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            <None>0</None>
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        <nameOfIssuer>PENN ENTERTAINMENT INC</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
        <cusip>707569109</cusip>
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        <nameOfIssuer>PROLOGIS INC.</nameOfIssuer>
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        <nameOfIssuer>PUBLIC STORAGE</nameOfIssuer>
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        <nameOfIssuer>PUBLIC SVC ENTERPRISE GRP IN</nameOfIssuer>
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        <nameOfIssuer>RELIANCE STEEL &amp; ALUMINUM CO</nameOfIssuer>
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        <nameOfIssuer>RESMED INC</nameOfIssuer>
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        <titleOfClass>COM</titleOfClass>
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        <nameOfIssuer>RTX CORPORATION</nameOfIssuer>
        <titleOfClass>COM</titleOfClass>
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        <cusip>883556102</cusip>
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        <cusip>G8994E103</cusip>
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        <nameOfIssuer>TRAVEL PLUS LEISURE CO</nameOfIssuer>
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        <cusip>894164102</cusip>
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            <Sole>192057</Sole>
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        <nameOfIssuer>VANGUARD INTL EQUITY INDEX F</nameOfIssuer>
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            <Sole>41800</Sole>
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