# UBS (CH) Fund Solutions - CMCI Oil SF ETF (USD) A-dis
## Category Other Funds for Traditional Investments

### Three-year comparison
ISIN	31.12.2022	30.6.2022	30.6.2021
Net fund assets in	122 798 354.63	171 163 605.49	222 130 286.81
Class (USD) A-dis	CH0109967858
Net asset value per unit in USD	45.9289	50.5853	32.9880
Number of units outstanding	2 673 662.0000	3 383 662.0000	6 733 662.0000

### Performance
| Currency | 2022 | 2022/2021 | 2021/2020 |
| --- | --- | --- | --- |
| Class (USD) A-dis | USD | -9.2% | 53.3% | 69.7% |
| Benchmark: |  |  |  |  |
| UBS Bloomberg CMCI WTI Crude Oil USD Index | USD | -8.8% | 54.9% | 71.4% |
| Historical performance is no indicator of current or future performance. The performance data does not take account of any commissions and costs charged when subscribing and redeeming units. |  |  |  |  |

Structure of the securities portfolio
 The 10 largest positions in % of total assets	
Microsoft Corp	5.73
Meta Platforms Inc	4.11
Berkshire Hathaway Inc	4.10
UnitedHealth Group Inc	3.95
Apple Inc	3.89
Alphabet Inc	3.79
Bank of America Corp	3.71
Salesforce Inc	3.68
Advanced Micro Devices Inc	3.61
Adobe Inc	3.39
Others	50.90
 Breakdown by sectors in % of total assets	
Internet	17.43
Software	14.03
Semiconductors	10.35
Banks	8.76
Computers	5.58
Insurance	4.10
Healthcare - services	3.95
Oil & gas	3.87
Retail	3.24
Healthcare - products	2.97
Others	16.58
Total	90.86
Total	90.86
There may be differences in the way the percentages mentioned above are rounded off.	There may be differences in the way the percentages mentioned above are rounded off.

### Statement of assets
31.12.2022	30.6.2022
Market values	
Bank deposits
- at sight	-	1 739.95
| - Shares and other equity securities and rights | 111 619 274.09 | - |
| --- | --- | --- |
| Derivative financial instruments | 11 179 080.54 | 171 161 865.54 |
| Other assets | 46 214.43 | - |
| Total fund assets | 122 844 569.06 | 171 163 605.49 |
| Other liabilities | 46 214.43 | - |
| Net fund assets | 122 798 354.63 | 171 163 605.49 |

Securities, including those on loan and under repurchase agreements, broken down into:

### Statement of income
1.7.2022-31.12.2022	1.7.2021-30.6.2022
Income	
| Negative interest | -188.85 | - |
| --- | --- | --- |
| Tax Reclassification 1 | 179 132.19 | - |
| Purchase of current net income on issue of units | -2 428.45 | -8 769.31 |
| Total income | 176 514.89 | -8 769.31 |

Expenses	
Interest paid	-	-484.01
Commission remuneration of the Fund Management in accordance with the fund contract
| class (USD) A-dis | -179 132.20 | -508 578.41 |
| --- | --- | --- |
| Payment of current net income on redemption of units | 8 385.90 | 158 583.64 |
| Total Expenses | -170 746.30 | -350 478.78 |
|  |  |  |
| Net income | 5 768.59 | -359 248.09 |
| Tax Reclassification 1 | -179 132.19 | - |
| Realised capital gains and losses | 150 472 282.94 | 83 968 462.21 |
| Realized result | 150 298 919.34 | 83 609 214.12 |
| Unrealised capital gains and losses | -166 176 642.75 | 4 367 371.89 |
| Total result | -15 877 723.41 | 87 976 586.01 |
| 1 In accordance with ESTV circular 24 from 20.11. 2017, section 2.6.5 |  |  |
| Changes in net fund assets | 1.7.2022-31.12.2022 | 1.7.2021-30.6.2022 |
|  |  |  |
| Net fund assets at the beginning of the financial year | 171 163 605.49 | 222 130 286.81 |
| Balance of unit movements | -32 487 527.45 | -138 943 267.33 |
| Total result | -15 877 723.41 | 87 976 586.01 |
| Net fund assets at the end of the reporting period | 122 798 354.63 | 171 163 605.49 |

| Development of the outstanding units | 1.7.2022-31.12.2022 | 1.7.2021-30.6.2022 |
| --- | --- | --- |
| Class (USD) A-dis | Number | Number |
| Situation at the beginning of the financial year | 3 383 662.000 | 6 733 662.000 |
| Units issued | 101 000.000 | 150 000.000 |
| Units redeemed | -811 000.000 | -3 500 000.000 |
| Situation at the end of the period | 2 673 662.000 | 3 383 662.000 |
| Difference between units issued and units redeemed | -710 000.000 | -3 350 000.000 |

| Inventory of Fund assets |  |
| --- | --- |
| Security |  | 30.06.2022 Quantity/ | Purchases 1 | Sales 2 | 31.12.2022 Quantity/ | Market value 3 in | in % 3 | Thereof in lending |
|  |  | Nominal |  |  | Nominal |  |  | Quantity/Nominal |
| Securities traded on an exchange |  |  |  |  |  |  |  |  |
| Shares |  |  |  |  |  |  |  |  |
| Germany |  |  |  |  |  |  |  |  |
| Pool held Shares |  |  |  |  |  |  |  |  |
| Deutsche Bank AG* | EUR |  |  |  | 2 388 | 26 987 | 0.02 |  |
| Total Germany |  |  |  |  |  | 26 987 | 0.02 |  |
| Ireland |  |  |  |  |  |  |  |  |
| Pool held Shares |  |  |  |  |  |  |  |  |
| Linde PLC* | USD |  |  |  | 2 131 | 695 164 | 0.57 |  |
| Total Ireland |  |  |  |  |  | 695 164 | 0.57 |  |
| Cayman Islands |  |  |  |  |  |  |  |  |
| Pool held Shares |  |  |  |  |  |  |  |  |
| Baidu Inc* | USD |  |  |  | 20 602 | 2 356 444 | 1.92 |  |
| Pinduoduo Inc* | USD |  |  |  | 20 549 | 1 675 748 | 1.36 |  |
| Total Cayman Islands |  |  |  |  |  | 4 032 192 | 3.28 |  |
| Netherlands |  |  |  |  |  |  |  |  |
| Pool held Shares |  |  |  |  |  |  |  |  |
| ASML Holding NV* | USD |  |  |  | 3 451 | 1 885 388 | 1.54 |  |
| Total Netherlands |  |  |  |  |  | 1 885 388 | 1.54 |  |
| Taiwan |  |  |  |  |  |  |  |  |
| Pool held Shares |  |  |  |  |  |  |  |  |
| Taiwan Semiconductor Manufacturing Co Ltd* | USD |  |  |  | 53 651 | 3 996 454 | 3.25 |  |
| Total Taiwan |  |  |  |  |  | 3 996 454 | 3.25 |  |
| United States |  |  |  |  |  |  |  |  |
| Pool held Shares |  |  |  |  |  |  |  |  |
| Abbott Laboratories* | USD |  |  |  | 11 051 | 1 213 282 | 0.99 |  |
| Adobe Inc* | USD |  |  |  | 12 359 | 4 159 278 | 3.39 |  |
| Advanced Micro Devices Inc* | USD |  |  |  | 68 531 | 4 438 775 | 3.61 |  |
| Alphabet Inc* | USD |  |  |  | 52 498 | 4 658 128 | 3.79 |  |
| Alphabet Inc* | USD |  |  |  | 5 882 | 518 959 | 0.42 |  |
| Amazon.com Inc* | USD |  |  |  | 41 712 | 3 503 845 | 2.85 |  |
| Apple Inc* | USD |  |  |  | 36 778 | 4 778 609 | 3.89 |  |
| Bank of America Corp* | USD |  |  |  | 137 481 | 4 553 357 | 3.71 |  |
| Berkshire Hathaway Inc* | USD |  |  |  | 16 315 | 5 039 539 | 4.10 |  |
| BioMarin Pharmaceutical Inc* | USD |  |  |  | 14 083 | 1 457 488 | 1.19 |  |
| Booking Holdings Inc* | USD |  |  |  | 1 421 | 2 863 350 | 2.33 |  |
| Chevron Corp* | USD |  |  |  | 13 099 | 2 351 185 | 1.91 |  |
| Citigroup Inc* | USD |  |  |  | 60 732 | 2 746 897 | 2.24 |  |
| Coca-Cola Co/The* | USD |  |  |  | 32 155 | 2 045 347 | 1.66 |  |
| Colgate-Palmolive Co* | USD |  |  |  | 18 268 | 1 439 311 | 1.17 |  |
| Crowdstrike Holdings Inc* | USD |  |  |  | 6 601 | 695 012 | 0.57 |  |
| DocuSign Inc* | USD |  |  |  | 14 675 | 813 268 | 0.66 |  |
| Exxon Mobil Corp* | USD |  |  |  | 7 003 | 772 388 | 0.63 |  |
| Fidelity National Information Services Inc* | USD |  |  |  | 10 352 | 702 362 | 0.57 |  |
| Incyte Corp* | USD |  |  |  | 22 204 | 1 783 431 | 1.45 |  |
| Intel Corp* | USD |  |  |  | 56 410 | 1 490 917 | 1.21 |  |
| JPMorgan Chase & Co* | USD |  |  |  | 5 683 | 762 128 | 0.62 |  |
| Lam Research Corp* | USD |  |  |  | 1 522 | 639 826 | 0.52 |  |
| Marathon Oil Corp* | USD |  |  |  | 4 900 | 132 635 | 0.11 |  |
| Mastercard Inc* | USD |  |  |  | 2 131 | 741 093 | 0.60 |  |
| McDonald’s Corp* | USD |  |  |  | 5 480 | 1 444 225 | 1.18 |  |
| MercadoLibre Inc* | USD |  |  |  | 947 | 801 455 | 0.65 |  |
| Meta Platforms Inc* | USD |  |  |  | 41 945 | 5 047 704 | 4.11 |  |
| Microsoft Corp* | USD |  |  |  | 29 377 | 7 045 188 | 5.73 |  |
| Morgan Stanley* | USD |  |  |  | 31 360 | 2 666 187 | 2.17 |  |
| NextEra Energy Inc* | USD |  |  |  | 17 354 | 1 450 820 | 1.18 |  |
| NIKE Inc* | USD |  |  |  | 6 597 | 771 876 | 0.63 |  |
| PayPal Holdings Inc* | USD |  |  |  | 35 107 | 2 500 346 | 2.04 |  |
| PepsiCo Inc* | USD |  |  |  | 5 883 | 1 062 861 | 0.87 |  |
| Pfizer Inc* | USD |  |  |  | 43 726 | 2 240 538 | 1.82 |  |
| Procter & Gamble Co/The* | USD |  |  |  | 9 946 | 1 507 376 | 1.23 |  |
| Salesforce Inc* | USD |  |  |  | 34 122 | 4 524 238 | 3.68 |  |
| Tesla Inc* | USD |  |  |  | 4 770 | 587 556 | 0.48 |  |
| Texas Instruments Inc* | USD |  |  |  | 1 613 | 266 539 | 0.22 |  |
| Thermo Fisher Scientific Inc* | USD |  |  |  | 4 406 | 2 426 376 | 1.98 |  |
| UnitedHealth Group Inc* | USD |  |  |  | 9 151 | 4 851 783 | 3.95 |  |
| Verizon Communications Inc* | USD |  |  |  | 37 742 | 1 487 025 | 1.21 |  |
| Walmart Inc* | USD |  |  |  | 17 884 | 2 535 710 | 2.06 |  |
| Walt Disney Co/The* | USD |  |  |  | 6 733 | 584 995 | 0.48 |  |
| Western Digital Corp* | USD |  |  |  | 43 713 | 1 379 160 | 1.12 |  |
| Total United States |  |  |  |  |  | 99 482 368 | 80.98 |  |

| Security |  | 30.06.2022 Quantity/ Nominal | Purchases 1 | Sales 2 | 31.12.2022 Quantity/ Nominal | Market value 3 in | in % 3 | Thereof in lending Quantity/Nominal |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| United Kingdom |  |  |  |  |  |  |  |  |
| Pool held Shares |  |  |  |  |  |  |  |  |
| BP PLC* | USD |  |  |  | 42 964 | 1 500 721 | 1.22 |  |
| Total United Kingdom |  |  |  |  |  | 1 500 721 | 1.22 |  |
| Total Shares |  |  |  |  |  | 111 619 274 | 90.86 |  |
| Total Securities traded on an exchange |  |  |  |  |  | 111 619 274 | 90.86 |  |
| Total Securities and similar instruments |  |  |  |  |  | 111 619 274 | 90.86 |  |
| (thereof in lending |  |  |  |  |  | 0.00 | 0.00) |  |
|  |  |  |  |  |  |  |  |  |
| Derivative financial instruments |  |  |  |  |  | 11 179 081 | 9.10 |  |
| Other assets |  |  |  |  |  | 46 214 | 0.04 |  |
| Total fund assets |  |  |  |  |  | 122 844 569 | 100.00 |  |
|  |  |  |  |  |  |  |  |  |
| Other liabilities |  |  |  |  |  | -46 214 |  |  |
| Net fund assets |  |  |  |  |  | 122 798 355 |  |  |

31.12.2022
Placement of the received and placed collaterals
Market value of the collateral received for derivative financial instruments	USD 10 584 1204,5
| Valuation categories | Market value as of | in % |
| --- | --- | --- |
|  | 31.12.2022 | of the total fund assets 3 |
| Investments valued at prices paid on the main market | 111 619 274 | 90.86 |
| Investments valuation based on market-observed parameters | 11 179 081 | 9.10 |
| Investments valued with suitable valuation models taking account of the current | - | - |
| market circumstances |  |  |
| Total | 122 798 355 | 99.96 |

1 Purchases include the following transactions: allotment from subscription / allotment from option rights / option rights / allotment of subscription rights from underlying stocks / bonus securities / change of corporate names / conversions
/ purchases / share exchange between companies / stock splits / stock dividends / optional dividends / transfers / transfer due to redenomination in euro / subscriptions in kind
2 Sales include the following transactions: cancellation as a result of expiry / draws by lot / exercise of rights / options / repayments / reverse-splits / sales / share exchange between companies / transfers / transfer due to redenomination in euro / redemptions in kind
3 Divergences in the totals may be attributed to rounding differences
4 The securities received as collateral are not accounted for in net assets. As collateral will be permitted:
- fixed or variable-interest debt instruments that currently have a long-term rating of at least “A-”, “A3” or equivalent from a rating agency recognised by the supervisory authority;
- shares that are traded on a stock exchange or on another regulated market open to the public in Switzerland, a member state of the European Union, a signatory state of the European Economic Area, the United States of America (USA), Norway or Canada and are included in a representative index for large capitalisation stocks.
- cash5 Counterparty: UBS AG, London* valued at prices paid on the main market (art. 88 para. 1 CISA)


### Derivative financial instruments
CISO-FINMA Art. 23
Exposure-increasing derivatives open at the end of the period under review
| Instrument | Nominal | Currency | Coverage in | Replacement value in | in % of total assets |
| --- | --- | --- | --- | --- | --- |
| Interest Rate Swaps/Credit Default Swaps/Total Return Swaps/Fully Funded Swaps |
| Fully Funded Swap Rec F 31.07.23** | 106 946 | USD | 4 911 935 | 4 911 935 | 4.00 |
| Total Return Swap Rec F 31.07.23** | 2 566 716 | USD | 117 886 420 | 117 886 420 | 95.96 |
| Total Return Swap Payer F 31.07.23** | -2 566 716 | USD | -111 619 274 | -111 619 274 | -90.86 |
| Liquidity linked to open derivative financial instruments: 11 179 081 |  |  | 11 179 081 | 11 179 081 | 9.10 |
| There may be differences in the way the figures mentioned above are rounded off. |  |  |  |  |  |
| **  valuation based on market-observed parameters |  |  |  |  |  |

Transactions in exposure-increasing derivatives during the period under review
Interest Rate Swaps/Credit Default Swaps/Total Return Swaps/Fully Funded Swaps
| Fully Funded Swap Rec F 31.07.23 | USD | 3 077 984 | 2 971 038 |
| --- | --- | --- | --- |
| Total Return Swap Rec F 31.07.23 | USD | 2 770 038 | 203 322 |
| Total Return Swap Payer F 31.07.23 | USD | 203 322 | 2 770 038 |
| UBS/CMCI WTI CRUDE OIL USD EXCESS RETURN 0.0000% 23-31.07.23 | USD | 5 000 000 | 174 183 100 |


### Supplementary information Derivative financial instruments
Risk assessment process Commitment approach I: Art. 34 CISO-FINMA
Position	amount in	In % of the
	fund’s net asset
Total exposure-increasing
positions	11 179 080.54	9.10
Total exposure-reducing
positions	-	-

### Repurchase agreements
No securities were used in repurchase agreements at balance sheet date.

### Remuneration of the Fund Management
See separate information at the end of the report.

### Soft Commission Arrangements
The fund management company has not concluded any arrangements in the form of “soft commission arrangements”.

### Total Expense Ratio (TER)
This ratio was calculated in accordance with the Asset Management Association Switzerland (AMAS)’s ”Guidelines on the calculation and disclosure of the Total Expense Ratio (TER) of collective investment schemes” in the current version and expresses the sum of all costs and commissions charged on an ongoing basis to the net assets (operating expenses) taken retrospectively as a percentage of the net assets.
TER for the last 12 months:
- (USD) A-dis	0.26%


### Valuation principles and calculation of the net asset value
See appendix to supplementary information.

### Exchange rate
CHF  1  =  USD  1.080847
EUR  1  =  USD  1.067250
USD  1  =  USD  1.000000

### Overview of the funds including the percentage of shares in each pool at the end of the reporting period
| Sub-fund | Pool UBS (CH) Fund Solutions - MSCI USA SF Index |
| --- | --- |
| UBS (CH) Fund Solutions - CMCI Oil SF ETF (USD) | 10.15% |
| Other | 89.85% |
| Total Pool | 100.00% |

The purchases and sales of securities (changes in securities holdings) made at the level of the pool(s) are listed at the end of the report. The presentation of securities purchases and sales at the level of each pool means that the securities portfolio at the end of the reporting period cannot be determined from the securities portfolio at the beginning of the reporting period (report from the previous period) corrected by the transactions carried out in the reporting period (in the pool).

Translation (ENDE, 2022-12-31):
# UBS (CH) Fund Solutions - CMCI Oil SF ETF (USD) A-dis
## Art übrige Fonds für traditionelle Anlagen
| Dreijahresvergleich |  |
| --- | --- |
|  | ISIN |  | 31.12.2022 |  | 30.6.2022 | 30.6.2021 |
| Nettofondsvermögen in |  |  | 122 798 354.63 |  | 171 163 605.49 | 222 130 286.81 |
| Klasse (USD) A-dis | CH0109967858 |  |  |  |  |  |
| Nettoinventarwert pro Anteil in USD |  |  | 45.9289 |  | 50.5853 | 32.9880 |
| Anzahl Anteile im Umlauf |  |  | 2 673 662,0000 |  | 3 383 662,0000 | 6 733 662,0000 |
| Performance |  |  |  |  |  |  |
|  |  | Währung |  | 2022 | 2022/2021 | 2021/2020 |
| Klasse (USD) A-dis |  | USD |  | -9.2% | 53.3% | 69.7% |
| Benchmark: UBS Bloomberg CMCI WTI Crude Oil USD Index |  | USD |  | -8.8% | 54.9% | 71.4% |

Die historische Performance stellt keinen Indikator für die laufende oder zukünftige Performance dar.
Die Performancedaten lassen die bei der Ausgabe und Rücknahme der Anteile erhobenen Kommissionen und Kosten unberücksichtigt.

### Struktur des Wertpapierportfolios
 Die 10 grössten Positionen in % des Gesamtfondsvermögens	
Microsoft Corp	5,73
Meta Platforms Inc	4,11
Berkshire Hathaway Inc	4,10
UnitedHealth Group Inc	3,95
Apple Inc	3,89
Alphabet Inc	3,79
Bank of America Corp	3,71
Salesforce Inc	3,68
Advanced Micro Devices Inc	3,61
Adobe Inc	3,39
Übrige	50,90
 Aufteilung nach Branchen in % des Gesamtfondsvermögens	
Internet	17,43
Software	14,03
Halbleiter	10,35
Banken	8,76
Computer	5,58
Versicherungen	4,10
Gesundheitspflegedienstleistungen	3,95
Erdöl und Gas	3,87
Einzelhandel	3,24
Gesundheitspflegeprodukte	2,97
Übrige	16,58
Total	90,86
Total	90,86
Obige Prozentsätze können Rundungsdifferenzen enthalten.	Obige Prozentsätze können Rundungsdifferenzen enthalten.

### Vermögensrechnung
31.12.2022	30.6.2022
Verkehrswerte	
Bankguthaben
| - auf Sicht | - | 1 739,95 |
| --- | --- | --- |
| Effekten, einschliesslich ausgeliehene Effekten, aufgeteilt in: |  |  |
| - Aktien und sonstige Beteiligungswertpapiere und –rechte | 111 619 274.09 | - |
| Derivative Finanzinstrumente | 11 179 080.54 | 171 161 865.54 |
| Sonstige Vermögenswerte | 46 214.43 | - |
| Gesamtfondsvermögen | 122 844 569.06 | 171 163 605.49 |
| Andere Verbindlichkeiten | 46 214.43 | - |
| Nettofondsvermögen | 122 798 354.63 | 171 163 605.49 |


### Erfolgsrechnung
1.7.2022-31.12.2022	1.7.2021-30.6.2022
Ertrag	
| Negativzinsen | -188.85 | - |
| --- | --- | --- |
| Steuerliche Umbuchung 1 | 179 132.19 | - |
| Einkauf in laufende Nettoerträge bei der Ausgabe von Anteilen | -2 428.45 | -8 769.31 |
| Total Ertrag | 176 514.89 | -8 769.31 |
| Aufwand	 |
| Passivzinsen | - | -484.01 |
| Fondsvertragliche Kommissionsvergütung an die Fondsleitung Klasse (USD) A-dis | -179 132.20 | -508 578.41 |
| Ausrichtung laufender Nettoerträge bei der Rücknahme von Anteilen | 8 385.90 | 158 583.64 |
| Total Aufwand | -170 746.30 | -350 478.78 |
|  |  |  |
| Nettoertrag | 5 768.59 | -359 248.09 |
| Steuerliche Umbuchung 1 | -179 132.19 | - |
| Realisierte Kapitalgewinne und -verluste | 150 472 282.94 | 83 968 462.21 |
| Realisierter Erfolg | 150 298 919.34 | 83 609 214.12 |
| Nicht realisierte Kapitalgewinne und -verluste | -166 176 642.75 | 4 367 371.89 |
| Gesamterfolg | -15 877 723.41 | 87 976 586.01 |
| 1 Gemäss ESTV Kreisschreiben 24 vom 20.11.2017 Ziffer 2.6.5 |  |  |
| Veränderung des Nettofondsvermögens |  |  |
|  | 1.7.2022-31.12.2022 | 1.7.2021-30.6.2022 |
|  |  |  |
| Nettofondsvermögen zu Beginn der Berichtsperiode | 171 163 605.49 | 222 130 286.81 |
| Saldo aus Anteilsverkehr | -32 487 527.45 | -138 943 267.33 |
| Gesamterfolg | -15 877 723.41 | 87 976 586.01 |
| Nettofondsvermögen am Ende der Berichtsperiode | 122 798 354.63 | 171 163 605.49 |

| Entwicklung der Anteile im Umlauf | 1.7.2022-31.12.2022 | 1.7.2021-30.6.2022 |
| --- | --- | --- |
| Klasse (USD) A-dis | Anzahl | Anzahl |
| Bestand Anfang Rechnungsjahr | 3 383 662,000 | 6 733 662,000 |
| Ausgegebene Anteile | 101 000,000 | 150 000,000 |
| Zurückgenommene Anteile | -811 000,000 | -3 500 000,000 |
| Bestand Ende Berichtsperiode | 2 673 662,000 | 3 383 662,000 |
| Differenz zwischen den ausgegebenen und zurückgenommenen Anteilen | -710 000,000 | -3 350 000,000 |

| Inventar des Fondsvermögens |  |
| --- | --- |
| Titel |  | 30.06.2022 Anzahl/ | Käufe 1 | Verkäufe 2 | 31.12.2022 Anzahl/ | Verkehrswert 3 in | in % 3 | Davon ausgeliehen |
|  |  | Nominal |  |  | Nominal |  |  | Anzahl/Nominal |
| An einer Börse gehandelte Effekten |  |  |  |  |  |  |  |  |
| Aktien |  |  |  |  |  |  |  |  |
| Deutschland |  |  |  |  |  |  |  |  |
| Durch Pool gehaltene Aktien |  |  |  |  |  |  |  |  |
| Deutsche Bank AG* | EUR |  |  |  | 2 388 | 26 987 | 0,02 |  |
| Total Deutschland |  |  |  |  |  | 26 987 | 0,02 |  |
| Irland |  |  |  |  |  |  |  |  |
| Durch Pool gehaltene Aktien |  |  |  |  |  |  |  |  |
| Linde PLC* | USD |  |  |  | 2 131 | 695 164 | 0,57 |  |
| Total Irland |  |  |  |  |  | 695 164 | 0,57 |  |
| Kaimaninseln |  |  |  |  |  |  |  |  |
| Durch Pool gehaltene Aktien |  |  |  |  |  |  |  |  |
| Baidu Inc* | USD |  |  |  | 20 602 | 2 356 444 | 1,92 |  |
| Pinduoduo Inc* | USD |  |  |  | 20 549 | 1 675 748 | 1,36 |  |
| Total Kaimaninseln |  |  |  |  |  | 4 032 192 | 3,28 |  |
| Niederlande |  |  |  |  |  |  |  |  |
| Durch Pool gehaltene Aktien |  |  |  |  |  |  |  |  |
| ASML Holding NV* | USD |  |  |  | 3 451 | 1 885 388 | 1,54 |  |
| Total Niederlande |  |  |  |  |  | 1 885 388 | 1,54 |  |
| Taiwan |  |  |  |  |  |  |  |  |
| Durch Pool gehaltene Aktien |  |  |  |  |  |  |  |  |
| Taiwan Semiconductor Manufacturing Co Ltd* | USD |  |  |  | 53 651 | 3 996 454 | 3,25 |  |
| Total Taiwan |  |  |  |  |  | 3 996 454 | 3,25 |  |
| Vereinigte Staaten von Amerika |  |  |  |  |  |  |  |  |
| Durch Pool gehaltene Aktien |  |  |  |  |  |  |  |  |
| Abbott Laboratories* | USD |  |  |  | 11 051 | 1 213 282 | 0,99 |  |
| Adobe Inc* | USD |  |  |  | 12 359 | 4 159 278 | 3,39 |  |
| Advanced Micro Devices Inc* | USD |  |  |  | 68 531 | 4 438 775 | 3,61 |  |
| Alphabet Inc* | USD |  |  |  | 52 498 | 4 658 128 | 3,79 |  |
| Alphabet Inc* | USD |  |  |  | 5 882 | 518 959 | 0,42 |  |
| Amazon.com Inc* | USD |  |  |  | 41 712 | 3 503 845 | 2,85 |  |
| Apple Inc* | USD |  |  |  | 36 778 | 4 778 609 | 3,89 |  |
| Bank of America Corp* | USD |  |  |  | 137 481 | 4 553 357 | 3,71 |  |
| Berkshire Hathaway Inc* | USD |  |  |  | 16 315 | 5 039 539 | 4,10 |  |
| BioMarin Pharmaceutical Inc* | USD |  |  |  | 14 083 | 1 457 488 | 1,19 |  |
| Booking Holdings Inc* | USD |  |  |  | 1 421 | 2 863 350 | 2,33 |  |
| Chevron Corp* | USD |  |  |  | 13 099 | 2 351 185 | 1,91 |  |
| Citigroup Inc* | USD |  |  |  | 60 732 | 2 746 897 | 2,24 |  |
| Coca-Cola Co/The* | USD |  |  |  | 32 155 | 2 045 347 | 1,66 |  |
| Colgate-Palmolive Co* | USD |  |  |  | 18 268 | 1 439 311 | 1,17 |  |
| Crowdstrike Holdings Inc* | USD |  |  |  | 6 601 | 695 012 | 0,57 |  |
| DocuSign Inc* | USD |  |  |  | 14 675 | 813 268 | 0,66 |  |
| Exxon Mobil Corp* | USD |  |  |  | 7 003 | 772 388 | 0,63 |  |
| Fidelity National Information Services Inc* | USD |  |  |  | 10 352 | 702 362 | 0,57 |  |
| Incyte Corp* | USD |  |  |  | 22 204 | 1 783 431 | 1,45 |  |
| Intel Corp* | USD |  |  |  | 56 410 | 1 490 917 | 1,21 |  |
| JPMorgan Chase & Co* | USD |  |  |  | 5 683 | 762 128 | 0,62 |  |
| Lam Research Corp* | USD |  |  |  | 1 522 | 639 826 | 0,52 |  |
| Marathon Oil Corp* | USD |  |  |  | 4 900 | 132 635 | 0,11 |  |
| Mastercard Inc* | USD |  |  |  | 2 131 | 741 093 | 0,60 |  |
| McDonald’s Corp* | USD |  |  |  | 5 480 | 1 444 225 | 1,18 |  |
| MercadoLibre Inc* | USD |  |  |  | 947 | 801 455 | 0,65 |  |
| Meta Platforms Inc* | USD |  |  |  | 41 945 | 5 047 704 | 4,11 |  |
| Microsoft Corp* | USD |  |  |  | 29 377 | 7 045 188 | 5,73 |  |
| Morgan Stanley* | USD |  |  |  | 31 360 | 2 666 187 | 2,17 |  |
| NextEra Energy Inc* | USD |  |  |  | 17 354 | 1 450 820 | 1,18 |  |
| NIKE Inc* | USD |  |  |  | 6 597 | 771 876 | 0,63 |  |
| PayPal Holdings Inc* | USD |  |  |  | 35 107 | 2 500 346 | 2,04 |  |
| PepsiCo Inc* | USD |  |  |  | 5 883 | 1 062 861 | 0,87 |  |
| Pfizer Inc* | USD |  |  |  | 43 726 | 2 240 538 | 1,82 |  |
| Procter & Gamble Co/The* | USD |  |  |  | 9 946 | 1 507 376 | 1,23 |  |
| Salesforce Inc* | USD |  |  |  | 34 122 | 4 524 238 | 3,68 |  |
| Tesla Inc* | USD |  |  |  | 4 770 | 587 556 | 0,48 |  |
| Texas Instruments Inc* | USD |  |  |  | 1 613 | 266 539 | 0,22 |  |
| Thermo Fisher Scientific Inc* | USD |  |  |  | 4 406 | 2 426 376 | 1,98 |  |
| UnitedHealth Group Inc* | USD |  |  |  | 9 151 | 4 851 783 | 3,95 |  |
| Verizon Communications Inc* | USD |  |  |  | 37 742 | 1 487 025 | 1,21 |  |
| Walmart Inc* | USD |  |  |  | 17 884 | 2 535 710 | 2,06 |  |
| Walt Disney Co/The* | USD |  |  |  | 6 733 | 584 995 | 0,48 |  |
| Western Digital Corp* | USD |  |  |  | 43 713 | 1 379 160 | 1,12 |  |
| Total Vereinigte Staaten von Amerika |  |  |  |  |  | 99 482 368 | 80,98 |  |

| Titel |  | 30.06.2022 Anzahl/ Nominal | Käufe 1 | Verkäufe 2 | 31.12.2022 Anzahl/ Nominal | Verkehrswert 3 in | in % 3 | Davon ausgeliehen Anzahl/Nominal |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Vereinigtes Königreich |  |  |  |  |  |  |  |  |
| Durch Pool gehaltene Aktien |  |  |  |  |  |  |  |  |
| BP PLC* | USD |  |  |  | 42 964 | 1 500 721 | 1,22 |  |
| Total Vereinigtes Königreich |  |  |  |  |  | 1 500 721 | 1,22 |  |
| Total Aktien |  |  |  |  |  | 111 619 274 | 90,86 |  |
| Total An einer Börse gehandelte Effekten |  |  |  |  |  | 111 619 274 | 90,86 |  |
| Total Wertschriften |  |  |  |  |  | 111 619 274 | 90,86 |  |
| (davon ausgeliehen |  |  |  |  |  | 0,00 | 0,00) |  |
|  |  |  |  |  |  |  |  |  |
| Derivative Finanzinstrumente |  |  |  |  |  | 11 179 081 | 9,10 |  |
| Sonstige Vermögenswerte |  |  |  |  |  | 46 214 | 0,04 |  |
| Gesamtfondsvermögen |  |  |  |  |  | 122 844 569 | 100,00 |  |
|  |  |  |  |  |  |  |  |  |
| Andere Verbindlichkeiten |  |  |  |  |  | -46 214 |  |  |
| Nettofondsvermögen | 122 798 355 |  |
| Aufstellung der erhaltenen und gestellten Sicherheiten (Collateral) |  |  |
|  |  | 31.12.2022 |
| Kurswert der als Sicherheit erhaltenen Bankguthaben für derivative Finanzinstrumente |  | USD 10 584 1204,5 |
| Bewertungskategorie | Verkehrswert per | in % |
|  | 31.12.2022 | des Gesamt- |
|  |  | fondsvermö- gens 3 |
| Anlagen bewertet zu den Kursen, die am Hauptmarkt bezahlt werden | 111 619 274 | 90,86 |
| Anlagen bewertet aufgrund von am Markt beobachtbaren Parametern | 11 179 081 | 9,10 |
| Anlagen bewertet mit geeigneten Bewertungsmodellen unter Berücksichtigung der | - | - |
| aktuellen Marktgegebenheiten |  |  |
| Total | 122 798 355 | 99,96 |

1 «Käufe» umfassen die Transaktionen: Gratistitel / Käufe / Konversionen / Namensänderungen / «Splits» / Stock-/Wahldividenden / Titelaufteilungen / Überträge / Umbuchungen infolge Redenominierung in Euro / Umtausch zwischen Gesellschaften / Zuteilung aus Bezugs-/Optionsrechten / Zuteilung von Bezugsrechten ab Basistiteln / Sacheinlagen
2 «Verkäufe» umfassen die Transaktionen: Auslosungen / Ausbuchung infolge Verfall / Ausübung von Bezugs-/Optionsrechten / «Reverse splits» / Rückzahlungen / Überträge / Umbuchungen infolge Redenominierung in Euro / Umtausch zwischen Gesellschaften / Verkäufe / Sachauslagen
3 Allfällige Abweichungen in den Totalisierungen sind auf Rundungsdifferenzen zurückzuführen
4 Die als Sicherheiten erhaltenen Wertpapiere werden nicht im Nettofondsvermögen bilanziert. Als Sicherheiten werden zugelassen:
- fest oder variabel verzinsliche Schuldverschreibungen, welche ein langfristiges aktuelles Rating einer von der Aufsichtsbehörde anerkannten Rating-Agentur von mindestens «A-», «A3» oder gleichwertig aufweisen
- Aktien, die an einer Börse oder an einem anderen geregelten, dem Publikum offen stehenden Markt der Schweiz, eines Mitgliedstaates der Europäischen Union, eines Vertragsstaates des Abkommens über den Europäischen Wirtschaftsraum, der Vereinigten Staaten von Amerika (USA), Norwegen oder Kanada gehandelt werden und in einem repräsentativen Index für hochkapitalisierte Werte enthalten sind.
- Bankguthaben5 Gegenpartei: UBS AG, London* bewertet zu den Kursen, die am Hauptmarkt bezahlt werden (Art. 88 Abs. 1 KAG)


### Derivative Finanzinstrumente
Gemäss KKV-FINMA Art. 23
Am Ende der Berichtsperiode offene engagementerhöhende Derivate
Zinssatz-Swaps/Credit Default Swaps/Total Return Swaps/Fully Funded Swaps
| Fully Funded Swap Rec F 31.07.23** | 106 946 | USD | 4 911 935 | 4 911 935 | 4,00 |
| --- | --- | --- | --- | --- | --- |
| Total Return Swap Rec F 31.07.23** | 2 566 716 | USD | 117 886 420 | 117 886 420 | 95,96 |
| Total Return Swap Payer F 31.07.23** | -2 566 716 | USD | -111 619 274 | -111 619 274 | -90,86 |
| Durch derivative Transaktionen gebundene geldnahe Mittel: 11 179 081 |  |  | 11 179 081 | 11 179 081 | 9,10 |
| Obige Angaben können Rundungsdifferenzen enthalten. |  |  |  |  |  |
| **  bewertet aufgrund von am Markt beobachtbaren Parametern |  |  |  |  |  |

Während der Berichtsperiode getätigte engagementerhöhende Derivate
Zinssatz-Swaps/Credit Default Swaps/Total Return Swaps/Fully Funded Swaps
| Fully Funded Swap Rec F 31.07.23 | USD | 3 077 984 | 2 971 038 |
| --- | --- | --- | --- |
| Total Return Swap Rec F 31.07.23 | USD | 2 770 038 | 203 322 |
| Total Return Swap Payer F 31.07.23 | USD | 203 322 | 2 770 038 |
| UBS/CMCI WTI CRUDE OIL USD EXCESS RETURN 0.0000% 23-31.07.23 | USD | 5 000 000 | 174 183 100 |


### Ergänzende Angaben Derivative Finanzinstrumente
Risikomessverfahren Commitment-Ansatz I: Art. 34 KKV-FINMA
Position	Betrag	in % des Netto-
	fondsvermögens
Total engagementerhöhende
Positionen	11 179 080,54	9,10
Total engagementreduzierende
Positionen	-	-
TER für die letzten 12 Monate:
- (USD) A-dis	0,26%


### Grundsätze der Bewertung und der Nettoinventar- wertberechnung
Siehe Anhang zu Ergänzende Angaben.

### Umrechnungskurs
|  | CHF | 1 | = | USD | 1.080847 |
| --- | --- | --- | --- | --- | --- |
| Pensionsgeschäfte | EUR | 1 | = | USD | 1.067250 |
|  | USD | 1 | = | USD | 1.000000 |
| Per Bilanzstichtag waren keine Effekten in Pension gegeben. |  |  |  |  |  |

Vergütung an die Fondsleitung
Siehe separate Aufstellung am Ende des Berichtes.

### Soft Commision Arrangements
Die Fondsleitung hat keine Vereinbarungen bezüglich «soft commission arrangements» geschlossen.

### Total Expense Ratio (TER)
Diese Kennziffer wurde gemäss der «Richtlinie zur Berech- nung und Offenlegung der Total Expense Ratio (TER) von kollektiven Kapitalanlagen» der Asset Management Asso- ciation Switzerland (AMAS) in der aktuell gültigen Fassung berechnet und drückt die Gesamtheit derjenigen Kommis- sionen und Kosten, die laufend dem Fondsvermögen belastet werden (Betriebsaufwand), retrospektiv in einem %-Satz des Fonds vermögens aus.

### Übersicht der Fonds inklusive Anteilsquote an jedem Pool per Ende der Berichtsperiode
| Teilvermögen | Pool UBS (CH) Fund Solutions - MSCI USA SF Index |
| --- | --- |
| UBS (CH) Fund Solutions - CMCI Oil SF ETF (USD) | 10,15% |
| Weitere | 89,85% |
| Total Pool | 100,00% |

Die auf der Ebene des/der Pools getätigten Wertpapier- käufe und -verkäufe (Wertpapierbestandesveränderungen) sind am Ende des Berichts aufgeführt. Die Darstellung der Wertpapierkäufe und -verkäufe auf Ebene jedes Pools hat zur Folge, dass der Wertpapierbestand am Ende der Berichts- periode sich nicht aus dem Wertpapierbestand zu Beginn der Berichtsperiode (Bericht der Vorperiode) korrigiert um die in der Berichtsperiode (im Pool) getätigten Transakti- onen ermitteln lässt.