# UBS (Lux) Bond SICAV
– USD Investment Grade Corporates Sustainable (USD)
| Most important figures |  |
| --- | --- |
|  | ISIN | 30.11.2022 | 31.5.2022 | 31.5.2021 |
| Net assets in USD |  | 1 810 837 292.97 | 1 798 185 759.64 | 2 312 275 078.09 |
| Class F-acc | LU1611257095 |  |  |  |
| Shares outstanding |  | 1 971.9910 | 2 438.5910 | 4 507.5910 |
| Net asset value per share in USD |  | 105 443.50 | 108 272.03 | 116 883.59 |
| Issue and redemption price per share in USD 1 |  | 105 443.50 | 108 272.03 | 116 883.59 |
| Class I-A1-acc 2 | LU2542764720 |  |  |  |
| Shares outstanding |  | 100.0000 | - | - |
| Net asset value per share in USD |  | 102.97 | - | - |
| Issue and redemption price per share in USD 1 |  | 102.97 | - | - |
| Class I-A3-acc 2 | LU1630042247 |  |  |  |
| Shares outstanding |  | 100.0000 | - | - |
| Net asset value per share in USD |  | 102.98 | - | - |
| Issue and redemption price per share in USD 1 |  | 102.98 | - | - |
| Class I-B-acc 3 | LU2545180692 |  |  |  |
| Shares outstanding |  | 345 050.5750 | - | - |
| Net asset value per share in USD |  | 102.93 | - | - |
| Issue and redemption price per share in USD 1 |  | 102.93 | - | - |
| Class U-X-acc | LU1469614280 |  |  |  |
| Shares outstanding |  | 115 278.8450 | 112 555.8450 | 122 589.8450 |
| Net asset value per share in USD |  | 11 111.81 | 11 389.33 | 12 251.03 |
| Issue and redemption price per share in USD 1 |  | 11 111.81 | 11 389.33 | 12 251.03 |
| Class (CHF hedged) U-X-acc | LU1469622465 |  |  |  |
| Shares outstanding |  | 24 879.5270 | 19 894.9160 | 19 390.9160 |
| Net asset value per share in CHF |  | 9 677.23 | 10 075.50 | 10 961.58 |
| Issue and redemption price per share in CHF 1 |  | 9 677.23 | 10 075.50 | 10 961.58 |
| Class (EUR hedged) U-X-acc | LU2337795806 |  |  |  |
| Shares outstanding |  | 3 679.0000 | 4 350.2150 | 3 851.0000 |
| Net asset value per share in EUR |  | 8 897.60 | 9 248.45 | 10 028.13 |
| Issue and redemption price per share in EUR 1 |  | 8 897.60 | 9 248.45 | 10 028.13 |
| 1  See note 1 2  First NAV: 2.11.2022 3  First NAV: 9.11.2022 |  |  |  |  |


### Structure of the Securities Portfolio
Geographical Breakdown as a % of net assets	
United States	69.73
United Kingdom	7.55
Australia	4.51
Canada	3.40
Japan	2.17
The Netherlands	2.04
Norway	1.51
France	1.34
Ireland	1.30
Multinationals	0.77
Bermuda	0.74
Luxembourg	0.52
Sweden	0.51
Cayman Islands	0.45
Italy	0.35
Jersey	0.23
Switzerland	0.22
Guernsey	0.11
Total	97.45
Economic Breakdown as a % of net assets	
Banks & credit institutions	28.92
Finance & holding companies	21.43
Energy & water supply	5.42
Telecommunications	4.10
Internet, software & IT services	3.62
Electronics & semiconductors	3.02
Petroleum	2.91
Retail trade, department stores	2.86
Pharmaceuticals, cosmetics & medical products	2.68
Healthcare & social services	2.53
Traffic & transportation	2.35
Food & soft drinks	2.14
Countries & central governments	1.69
Real Estate	1.46
Electrical devices & components	1.36
Insurance	1.36
Computer hardware & network equipment providers	1.32
Tobacco & alcohol	1.14
Biotechnology	0.94
Miscellaneous trading companies	0.93
Miscellaneous services	0.82
Mining, coal & steel	0.78
Graphic design, publishing & media	0.63
Aerospace industry	0.62
Mechanical engineering & industrial equipment	0.53
Textiles, garments & leather goods	0.45
Chemicals	0.45
Vehicles	0.40
Lodging, catering & leisure	0.24
Investment funds	0.23
Total	97.45
Non-ferrous metals	0.12
UBS (Lux) Bond SICAV – USD Investment Grade Corporates (USD)
Semi-Annual Report as of 30 November 2022

### Statement of Net Assets
Assets	30.11.2022
USD
Investments in securities, cost	1 938 383 240.65
| Investments in securities, unrealized appreciation (depreciation) | 	-173 692 313.67	 |
| --- | --- |
| Total investments in securities (Note 1) | 1 764 690 926.98 |
| Cash at banks, deposits on demand and deposit accounts | 38 678 492.85 |
| Other liquid assets (Margins) | 271 779.65 |
| Receivable on securities sales (Note 1) | 7 789 028.38 |
| Receivable on subscriptions | 4 999 999.92 |
| Interest receivable on securities | 13 521 921.83 |
| Total Assets | 1 829 952 149.61 |
|  |  |
| Liabilities |  |
| Unrealized loss on financial futures (Note 1) | -182 312.51 |
| Unrealized loss on forward foreign exchange contracts (Note 1) | -3 990 253.74 |
| Bank overdraft | -9.33 |
| Payable on securities purchases (Note 1) | -14 241 180.50 |
| Provisions for flat fee (Note 2) | -61 378.50 |
| Provisions for taxe d’abonnement (Note 3) | -29 947.60 |
| Provisions for other commissions and fees (Note 2) | 	-609 774.46	 |
| Total provisions | -701 100.56 |
| Total Liabilities | -19 114 856.64 |
|  |  |
| Net assets at the end of the period | 1 810 837 292.97 |
| Statement of Operations | USD |
| Income | 1.6.2022-30.11.2022 |
| Interest on liquid assets | 280 777.79 |
| Interest on securities | 27 956 907.46 |
| Net income on securities lending (Note 11) | 12 130.22 |
| Other income (Note 4) | 656 826.79 |
| Total income | 28 906 642.26 |
|  |  |
| Expenses |  |
| Flat fee (Note 2) | -419 363.04 |
| Taxe d’abonnement (Note 3) | -83 808.23 |
| Other commissions and fees (Note 2) | -113 254.95 |
| Total expenses | -616 426.22 |
|  |  |
| Net income (loss) on investments | 28 290 216.04 |
|  |  |
| Realized gain (loss) (Note 1) |  |
| Realized gain (loss) on market-priced securities without options | -18 634 026.43 |
| Realized gain (loss) on financial futures | -3 376 702.90 |
| Realized gain (loss) on forward foreign exchange contracts | -2 959 373.79 |
| Realized gain (loss) on foreign exchange | 9 341 515.50 |
| Total realized gain (loss) | -15 628 587.62 |
|  |  |
| Net realized gain (loss) of the period | 12 661 628.42 |
|  |  |
| Changes in unrealized appreciation (depreciation) (Note 1) |  |
| Unrealized appreciation (depreciation) on market-priced securities without options | -48 042 291.26 |
| Unrealized appreciation (depreciation) on financial futures | 149 031.24 |
| Unrealized appreciation (depreciation) on forward foreign exchange contracts | -10 731 761.02 |
| Total changes in unrealized appreciation (depreciation) | -58 625 021.04 |
|  |  |
| Net increase (decrease) in net assets as a result of operations | -45 963 392.62 |

UBS (Lux) Bond SICAV – USD Investment Grade Corporates (USD) Semi-Annual Report as of 30 November 2022
| Changes in Net Assets |  |
| --- | --- |
|  | USD |
|  | 1.6.2022-30.11.2022 |
| Net assets at the beginning of the period | 1 798 185 759.64 |
| Subscriptions | 263 326 512.51 |
| Redemptions | 	-204 711 586.56	 |
| Total net subscriptions (redemptions) | 58 614 925.95 |
| Net income (loss) on investments | 28 290 216.04 |
| Total realized gain (loss) | -15 628 587.62 |
| Total changes in unrealized appreciation (depreciation) | 	-58 625 021.04	 |
| Net increase (decrease) in net assets as a result of operations | -45 963 392.62 |
| Net assets at the end of the period | 1 810 837 292.97 |
| Changes in the Number of Shares outstanding |  |
|  | 1.6.2022-30.11.2022 |
| Class | F-acc |
| Number of shares outstanding at the beginning of the period | 2 438.5910 |
| Number of shares issued | 40.0000 |
| Number of shares redeemed | -506.6000 |
| Number of shares outstanding at the end of the period | 1 971.9910 |
| Class | I-A1-acc |
| Number of shares outstanding at the beginning of the period | 0.0000 |
| Number of shares issued | 100.0000 |
| Number of shares redeemed | 0.0000 |
| Number of shares outstanding at the end of the period | 100.0000 |
| Class | I-A3-acc |
| Number of shares outstanding at the beginning of the period | 0.0000 |
| Number of shares issued | 100.0000 |
| Number of shares redeemed | 0.0000 |
| Number of shares outstanding at the end of the period | 100.0000 |
| Class | I-B-acc |
| Number of shares outstanding at the beginning of the period | 0.0000 |
| Number of shares issued | 345 050.5750 |
| Number of shares redeemed | 0.0000 |
| Number of shares outstanding at the end of the period | 345 050.5750 |
| Class | U-X-acc |
| Number of shares outstanding at the beginning of the period | 112 555.8450 |
| Number of shares issued | 14 256.0000 |
| Number of shares redeemed | -11 533.0000 |
| Number of shares outstanding at the end of the period | 115 278.8450 |
| Class | (CHF hedged) U-X-acc |
| Number of shares outstanding at the beginning of the period | 19 894.9160 |
| Number of shares issued | 6 273.6110 |
| Number of shares redeemed | -1 289.0000 |
| Number of shares outstanding at the end of the period | 24 879.5270 |
| Class | (EUR hedged) U-X-acc |
| Number of shares outstanding at the beginning of the period | 4 350.2150 |
| Number of shares issued | 521.0000 |
| Number of shares redeemed | -1 192.2150 |
| Number of shares outstanding at the end of the period | 3 679.0000 |

UBS (Lux) Bond SICAV – USD Investment Grade Corporates (USD)
Semi-Annual Report as of 30 November 2022

### Statement of Investments in Securities and other Net Assets as of 30 November 2022
| Description | Quantity/ | Valuation in USD | as a % |
| --- | --- | --- | --- |
|  | Nominal | Unrealized gain | of net |
|  |  | (loss) on Futures/ | assets |
|  |  | Forward |  |
|  |  | Exchange Contracts/ |  |
|  |  | Swaps (Note 1) |  |
| Transferable securities and money market instruments listed on an official stock exchange Notes, fixed rate |  |  |  |
| USD |  |  |  |
| USD	ABBVIE INC 3.20000% 20-21.11.29 | 5 000 000.00 | 4 564 890.70 | 0.25 |
| USD	ADOBE INC 2.30000% 20-01.02.30 | 3 946 000.00 | 3 393 027.65 | 0.19 |
| USD	AERCAP IRELAND CAP/ GLBL AVIATION TRUST 6.50000% 20-15.07.25 | 4 000 000.00 | 4 041 040.28 | 0.22 |
| USD	AERCAP IRELAND CAPITAL DAC / AERCAP 1.65000% 21-29.10.24 | 6 500 000.00 | 5 981 077.11 | 0.33 |
| USD	AERCAP IRELAND CAPITAL DAC / AERCAP GLO 2.45000% 21-29.10.26 | 10 000 000.00 | 8 792 954.00 | 0.49 |
| USD	AIR LEASE CORP 3.25000% 18-01.03.25 | 10 150 000.00 | 9 621 336.24 | 0.53 |
| USD	AIR LEASE CORP 5.85000% 22-15.12.27 | 7 350 000.00 | 7 300 161.05 | 0.40 |
| USD	ALEXANDRIA REAL ESTATE EQUITY INC 1.87500% 20-01.02.33 | 5 000 000.00 | 3 718 252.70 | 0.21 |
| USD	ALLY FINANCIAL INC 5.12500% 14-30.09.24 | 1 600 000.00 | 1 587 362.88 | 0.09 |
| USD	ALLY FINANCIAL INC 5.80000% 20-01.05.25 | 1 000 000.00 | 1 004 127.58 | 0.06 |
| USD	ALPHABET INC 1.10000% 20-15.08.30 | 7 802 000.00 | 6 206 105.73 | 0.34 |
| USD	AMAZON.COM INC 1.20000% 20-03.06.27 | 12 500 000.00 | 10 910 935.13 | 0.60 |
| USD	AMERICAN EXPRESS CO 3.95000% 22-01.08.25 | 10 000 000.00 | 9 792 629.10 | 0.54 |
| USD	AMERICAN INTERNATIONAL GROUP INC 4.25000% 19-15.03.29 | 3 000 000.00 | 2 813 598.78 | 0.16 |
| USD	AMGEN INC 2.45000% 20-21.02.30 | 4 502 000.00 | 3 842 855.38 | 0.21 |
| USD	ANALOG DEVICES INC 1.70000% 21-01.10.28 | 6 000 000.00 | 5 136 203.10 | 0.28 |
| USD	ANGLO AMERICAN CAPITAL PLC-144A 4.87500% 15-14.05.25 | 1 953 000.00 | 1 936 087.02 | 0.11 |
| USD	ANHEUSER-BUSCH INBEV WORLDWIDE INC 4.75000% 19-23.01.29 | 10 000 000.00 | 9 993 876.60 | 0.55 |
| USD	ANZ NEW ZEALAND INT’L LTD/LONDON-144A 1.25000% 21-22.06.26 | 6 300 000.00 | 5 504 333.94 | 0.30 |
| USD	AON CORP 2.80000% 20-15.05.30 | 5 000 000.00 | 4 275 871.15 | 0.24 |
| USD	APPLE INC 1.65000% 20-11.05.30 | 10 360 000.00 | 8 622 397.91 | 0.48 |
| USD	APTIV PLC 2.39600% 22-18.02.25 | 4 500 000.00 | 4 232 412.72 | 0.23 |
| USD	ARCELORMITTAL SA 6.55000% 22-29.11.27 | 5 250 000.00 | 5 295 256.94 | 0.29 |
| USD	ASHTEAD CAPITAL INC-144A 4.25000% 19-01.11.29 | 5 250 000.00 | 4 752 608.65 | 0.26 |
| USD	ASHTEAD CAPITAL INC-144A 1.50000% 21-12.08.26 | 1 500 000.00 | 1 284 397.04 | 0.07 |
| USD	ASTRAZENECA PLC 4.00000% 18-17.01.29 | 5 000 000.00 | 4 854 734.30 | 0.27 |
| USD	AT&T INC 2.75000% 20-01.06.31 | 12 000 000.00 | 10 086 934.20 | 0.56 |
| USD	AT&T INC 4.30000% 18-15.02.30 | 2 910 000.00 | 2 764 780.64 | 0.15 |
| USD	BANK OF NOVA SCOTIA-SUB 4.50000% 15-16.12.25 | 6 050 000.00 | 5 974 461.82 | 0.33 |
| USD	BARCLAYS PLC 3.65000% 15-16.03.25 | 7 000 000.00 | 6 676 881.68 | 0.37 |
| USD	BARCLAYS PLC 5.50100% 22-09.08.28 | 13 000 000.00 | 12 588 151.03 | 0.70 |
| USD	BARCLAYS PLC-SUB 4.37500% 14-11.09.24 | 11 750 000.00 | 11 443 937.64 | 0.63 |
| USD	BP CAPITAL MARKETS AMERICA INC 3.41000% 19-11.02.26 | 10 000 000.00 | 9 667 597.60 | 0.53 |
| USD	BRISTOL-MYERS SQUIBB CO 3.20000% 20-15.06.26 | 5 250 000.00 | 5 042 890.49 | 0.28 |
| USD	BRITISH TELECOMMUNICATIONS PLC 4.50000% 18-04.12.23 | 10 614 000.00 | 10 523 414.39 | 0.58 |
| USD	BROADCOM CORP/CAYMAN FIN LTD 3.87500% 18-15.01.27 | 6 849 000.00 | 6 483 806.05 | 0.36 |
| USD	BROADCOM CORP/CAYMAN FIN LTD 3.50000% 18-15.01.28 | 2 049 000.00 | 1 874 485.89 | 0.10 |
| USD	BROADCOM INC 4.30000% 20-15.11.32 | 3 500 000.00 | 3 112 194.26 | 0.17 |
| USD	CANADIAN IMPERIAL BANK OF COMMERCE 1.00000% 21-18.10.24 | 6 000 000.00 | 5 582 860.74 | 0.31 |
| USD	CANADIAN PACIFIC RAILWAY 1.75000% 21-02.12.26 | 7 000 000.00 | 6 255 641.21 | 0.35 |
| USD	CANADIAN PACIFIC RAILWAY 2.45000% 21-02.12.31 | 2 500 000.00 | 2 083 449.73 | 0.12 |
| USD	CAPITAL ONE FINANCIAL CORP-SUB 4.20000% 15-29.10.25 | 9 501 000.00 | 9 212 843.03 | 0.51 |
| USD	CCO LLC/CAPITAL 2.80000% 20-01.04.31 | 3 000 000.00 | 2 373 789.15 | 0.13 |
| USD	CCO LLC/CAPITAL 4.90800% 16-23.07.25 | 8 000 000.00 | 7 874 332.64 | 0.44 |
| USD	CENTENE CORP 2.45000% 21-15.07.28 | 9 000 000.00 | 7 568 803.80 | 0.42 |
| USD	CIGNA CORP 2.40000% 20-15.03.30 | 3 000 000.00 | 2 548 006.41 | 0.14 |
| USD	CIGNA CORP 4.12500% 19-15.11.25 | 5 500 000.00 | 5 409 697.26 | 0.30 |
| USD	CITIGROUP INC 3.20000% 16-21.10.26 | 10 000 000.00 | 9 338 190.10 | 0.52 |
| USD	CITIGROUP INC 3.70000% 16-12.01.26 | 5 750 000.00 | 5 519 426.77 | 0.31 |
| USD	CITIGROUP INC-SUB 4.45000% 15-29.09.27 | 18 000 000.00 | 17 336 531.34 | 0.96 |
| USD	CITIGROUP INC-SUB 4.60000% 16-09.03.26 | 5 000 000.00 | 4 929 496.80 | 0.27 |
| USD	CITIGROUP INC-SUB 5.50000% 13-13.09.25 | 6 250 000.00 | 6 343 165.56 | 0.35 |
| USD	CMS ENERGY CORP 3.60000% 15-15.11.25 | 3 000 000.00 | 2 874 651.06 | 0.16 |
| USD	COCA-COLA CO/THE 1.65000% 20-01.06.30 | 6 954 000.00 | 5 725 540.29 | 0.32 |
| USD	COMCAST CORP 4.25000% 18-15.10.30 | 5 000 000.00 | 4 817 701.35 | 0.27 |
| USD	COSTCO WHOLESALE CORP 1.60000% 20-20.04.30 | 9 000 000.00 | 7 437 220.20 | 0.41 |
| USD	CREDIT AGRICOLE SA-144A-SUB 4.37500% 15-17.03.25 | 4 500 000.00 | 4 316 220.00 | 0.24 |
| USD	CREDIT SUISSE GROUP AG-144A 4.28200% 17-09.01.28 | 5 000 000.00 | 4 074 060.70 | 0.22 |
| USD	CREDIT SUISSE GROUP AG 4.55000% 16-17.04.26 | 2 250 000.00 | 1 955 460.42 | 0.11 |
| USD	CVS HEALTH CORP 1.75000% 20-21.08.30 | 5 000 000.00 | 3 982 504.35 | 0.22 |
| USD	CVS HEALTH CORP 1.87500% 20-28.02.31 | 3 000 000.00 | 2 390 168.91 | 0.13 |
| USD	DELL INTERNATIONAL LLC / EMC CORP 6.02000% 21-15.06.26 | 12 000 000.00 | 12 255 063.48 | 0.68 |
| USD	DOMINION ENERGY INC 3.37500% 20-01.04.30 | 15 000 000.00 | 13 287 845.10 | 0.73 |
| USD	DTE ENERGY CO 2.95000% 19-01.03.30 | 9 000 000.00 | 7 720 495.02 | 0.43 |
| USD	DTE ENERGY CO 3.40000% 19-15.06.29 | 7 463 000.00 | 6 667 393.22 | 0.37 |
| USD	EBAY INC 2.60000% 21-10.05.31 | 3 650 000.00 | 2 998 474.75 | 0.17 |
| USD	ENBRIDGE ENERGY PARTNERS LP 5.87500% 15-15.10.25 | 13 867 000.00 | 14 153 834.18 | 0.78 |
| USD	ENI SPA-144A 4.00000% 18-12.09.23 | 6 500 000.00 | 6 401 075.98 | 0.35 |
| USD	EQT CORP 3.90000% 17-01.10.27 | 6 000 000.00 | 5 554 269.96 | 0.31 |
| USD	EQUINIX INC 2.15000% 20-15.07.30 | 5 000 000.00 | 4 005 538.40 | 0.22 |
| USD	EQUINOR ASA 2.87500% 20-06.04.25 | 17 000 000.00 | 16 349 617.23 | 0.90 |
| USD	EVERSOURCE ENERGY 3.37500% 22-01.03.32 | 7 000 000.00 | 6 132 552.23 | 0.34 |
| USD	FISERV INC 3.20000% 19-01.07.26 | 15 000 000.00 | 14 120 445.60 | 0.78 |
| USD	FORD MOTOR CREDIT CO 3.37500% 20-13.11.25 | 5 800 000.00 | 5 351 254.00 | 0.30 |
| USD	GENERAL MOTORS CO 4.20000% 17-01.10.27 | 2 500 000.00 | 2 379 381.65 | 0.13 |
| USD	GENERAL MOTORS FINANCIAL CO INC 4.00000% 16-06.10.26 | 1 750 000.00 | 1 647 582.76 | 0.09 |
| USD	GENERAL MOTORS FINANCIAL CO INC 3.50000% 17-07.11.24 | 8 217 000.00 | 7 930 701.64 | 0.44 |
| USD	GENERAL MOTORS FINANCIAL CO INC 2.90000% 20-26.02.25 | 15 000 000.00 | 14 173 277.10 | 0.78 |
| USD	GEORGIA POWER CO 2.65000% 19-15.09.29 | 10 000 000.00 | 8 589 242.70 | 0.47 |
| USD	GILEAD SCIENCES INC 1.65000% 20-01.10.30 | 5 000 000.00 | 4 016 876.65 | 0.22 |
| USD	GOLDMAN SACHS GROUP INC-SUB 4.25000% 15-21.10.25 | 5 000 000.00 | 4 902 374.10 | 0.27 |
| USD	GOLDMAN SACHS GROUP INC 3.80000% 20-15.03.30 | 2 500 000.00 | 2 272 269.05 | 0.13 |
| USD	HCA INC 4.12500% 19-15.06.29 | 8 000 000.00 | 7 310 875.52 | 0.40 |
| USD	HCA INC 5.00000% 14-15.03.24 | 6 750 000.00 | 6 722 838.81 | 0.37 |
| USD	HEALTHPEAK PROPERTIES 2.12500% 21-01.12.28 | 5 000 000.00 | 4 213 836.40 | 0.23 |
| USD	HOME DEPOT INC 2.70000% 20-15.04.30 | 5 000 000.00 | 4 424 729.60 | 0.24 |

UBS (Lux) Bond SICAV – USD Investment Grade Corporates (USD) Semi-Annual Report as of 30 November 2022
|  | Description | Quantity/ | Valuation in USD | as a % |
| --- | --- | --- | --- | --- |
|  | Nominal | Unrealized gain | of net |
|  |  | (loss) on Futures/ | assets |
|  |  | Forward |  |
|  |  | Exchange Contracts/ |  |
|  |  | Swaps (Note 1) |  |
|  |  |  |  |  |
| USD | HOME DEPOT INC 2.87500% 22-15.04.27 | 3 000 000.00 | 2 814 860.19 | 0.16 |
| USD | HOME DEPOT INC/THE 1.50000% 21-15.09.28 | 7 500 000.00 | 6 429 033.60 | 0.36 |
| USD | HOME DEPOT INC/THE 2.95000% 19-15.06.29 | 5 000 000.00 | 4 562 119.30 | 0.25 |
| USD | HSBC HOLDINGS PLC 4.30000% 16-08.03.26 | 5 441 000.00 | 5 295 586.83 | 0.29 |
| USD | HSBC HOLDINGS PLC-SUB 4.37500% 16-23.11.26 | 1 750 000.00 | 1 679 199.51 | 0.09 |
| USD | INTEL CORP 4.15000% 22-05.08.32 | 4 500 000.00 | 4 245 691.00 | 0.23 |
| USD | INTERCONTINENTAL EXCHANGE INC 2.10000% 20-15.06.30 | 4 000 000.00 | 3 305 696.40 | 0.18 |
| USD | INTERNATIONAL BUSINESS MACHINES CORP 3.45000% 16-19.02.26 | 7 500 000.00 | 7 214 514.68 | 0.40 |
| USD | JOHNSON CONTROLS INTERNATIONAL PLC 2.00000% 21-16.09.31 | 6 000 000.00 | 4 738 976.34 | 0.26 |
| USD | JPMORGAN CHASE & CO-SUB 3.62500% 16-01.12.27 | 12 500 000.00 | 11 736 910.62 | 0.65 |
| USD | KINROSS GOLD CORP 5.95000% 14-15.03.24 | 2 250 000.00 | 2 258 141.60 | 0.12 |
| USD | KROGER CO/THE 1.70000% 21-15.01.31 | 7 000 000.00 | 5 436 251.31 | 0.30 |
| USD | LLOYDS BANKING GROUP PLC-SUB 4.58200% 16-10.12.25 | 4 000 000.00 | 3 801 544.24 | 0.21 |
| USD | LLOYDS BANKING GROUP PLC-SUB 4.50000% 14-04.11.24 | 2 293 000.00 | 2 237 257.17 | 0.12 |
| USD | LOWE’S COS INC 1.70000% 21-15.09.28 | 8 000 000.00 | 6 805 632.96 | 0.38 |
| USD | LSEGA FINANCING PLC-144A 1.37500% 21-06.04.26 | 5 000 000.00 | 4 431 064.95 | 0.25 |
| USD | LSEGA FINANCING PLC-144A 2.50000% 21-06.04.31 | 4 867 000.00 | 4 095 501.80 | 0.23 |
| USD | MARSH & MCLENNAN COS INC 5.70000% 22-01.11.32 | 9 000 000.00 | 9 557 275.14 | 0.53 |
| USD | MASTERCARD INC 3.35000% 20-26.03.30 | 2 445 000.00 | 2 278 230.61 | 0.13 |
| USD | MERCEDES-BENZ FINANCE NORTH AMERIC-144A 5.25000% 22-29.11.27 | 10 000 000.00 | 10 102 050.70 | 0.56 |
| USD | MERCK & CO INC 1.70000% 21-10.06.27 | 2 000 000.00 | 1 790 828.78 | 0.10 |
| USD | MICROSOFT CORP 3.30000% 17-06.02.27 | 5 000 000.00 | 4 836 175.65 | 0.27 |
| USD | MITSUBISHI UFJ FINANCIAL GRP INC 2.19300% 20-25.02.25 | 12 000 000.00 | 11 209 230.00 | 0.62 |
| USD | MITSUBISHI UFJ FINANCIAL GROUP INC 1.41200% 20-17.07.25 | 5 851 000.00 | 5 289 131.98 | 0.29 |
| USD | MIZUHO BANK LTD-144A 3.60000% 14-25.09.24 | 2 333 000.00 | 2 255 671.32 | 0.12 |
| USD | MORGAN STANLEY-SUB 5.00000% 13-24.11.25 | 5 000 000.00 | 5 011 679.00 | 0.28 |
| USD | NATWEST GROUP PLC 4.80000% 16-05.04.26 | 10 000 000.00 | 9 746 104.80 | 0.54 |
| USD | NATWEST MARKETS PLC-144A 0.80000% 21-12.08.24 | 9 000 000.00 | 8 304 815.43 | 0.46 |
| USD | NEXTERA ENERGY CAP 2.44000% 21-15.01.32 | 12 000 000.00 | 9 774 057.48 | 0.54 |
| USD | NIKE INC 2.75000% 20-27.03.27 | 8 764 000.00 | 8 236 739.27 | 0.46 |
| USD | NUTRIEN LTD 5.95000% 22-07.11.25 | 1 500 000.00 | 1 531 139.71 | 0.08 |
| USD | NVIDIA CORP 2.85000% 20-01.04.30 | 2 560 000.00 | 2 258 261.99 | 0.12 |
| USD | ONEOK INC 6.10000% 22-15.11.32 | 5 500 000.00 | 5 600 128.00 | 0.31 |
| USD | ORACLE CORP 2.80000% 20-01.04.27 | 14 000 000.00 | 12 775 187.88 | 0.71 |
| USD | ORACLE CORP 6.25000% 22-09.11.32 | 10 000 000.00 | 10 551 607.61 | 0.58 |
| USD | PAYPAL HOLDINGS INC 2.30000% 20-01.06.30 | 10 825 000.00 | 8 956 658.48 | 0.49 |
| USD | PEPSICO INC 1.62500% 20-01.05.30 | 6 232 000.00 | 5 150 019.85 | 0.28 |
| USD | PEPSICO INC 1.95000% 21-21.10.31 | 6 500 000.00 | 5 336 061.51 | 0.30 |
| USD | PFIZER INC 2.62500% 20-01.04.30 | 6 390 000.00 | 5 668 248.09 | 0.31 |
| USD | PLAINS ALL AMERICAN PIPELINE LP 4.65000%15-15.10.25 | 2 525 000.00 | 2 486 085.81 | 0.14 |
| USD | PUBLIC STORAGE 1.95000% 21-09.11.28 | 3 000 000.00 | 2 581 200.54 | 0.14 |
| USD | PUBLIC STORAGE 3.09400% 17-15.09.27 | 5 000 000.00 | 4 679 676.75 | 0.26 |
| USD | PUBLIC STORAGE 3.38500% 19-01.05.29 | 3 000 000.00 | 2 752 600.98 | 0.15 |
| USD | QUALCOMM INC 3.25000% 17-20.05.27 | 4 250 000.00 | 4 059 516.61 | 0.22 |
| USD | QUANTA SERVICES INC 2.90000% 20-01.10.30 | 10 500 000.00 | 8 727 826.06 | 0.48 |
| USD | QUANTA SERVICES INC 0.95000% 21-01.10.24 | 3 000 000.00 | 2 747 305.83 | 0.15 |
| USD | SABINE PASS LIQUEFACTION LLC 5.75000% 14-15.05.24 | 5 000 000.00 | 5 007 992.60 | 0.28 |
| USD | SABINE PASS LIQUEFACTION LLC 5.00000% 17-15.03.27 | 4 850 000.00 | 4 787 378.94 | 0.26 |
| USD | SALESFORCE.COM INC 1.50000% 21-15.07.28 | 7 000 000.00 | 6 035 723.68 | 0.33 |
| USD | SEMPRA ENERGY 3.25000% 17-15.06.27 | 3 188 000.00 | 2 960 179.62 | 0.16 |
| USD | STEEL DYNAMICS INC 5.00000% 17-15.12.26 | 3 500 000.00 | 3 448 889.19 | 0.19 |
| USD | SUMITOMO MITSUI FIN GP INC 2.44800% 19-27.09.24 | 4 000 000.00 | 3 790 420.00 | 0.21 |
| USD | SWEDBANK AB-144A 1.53800% 21-16.11.26 | 10 500 000.00 | 9 180 267.39 | 0.51 |
| USD | SYNGENTA FINANCE NV-144A 4.44100% 18-24.04.23 | 7 000 000.00 | 6 951 354.13 | 0.38 |
| USD | T-MOBILE USA INC 3.37500% 21-15.04.29 | 10 000 000.00 | 8 835 709.00 | 0.49 |
| USD | T-MOBILE USA INC 3.50000% 21-15.04.31 | 5 000 000.00 | 4 353 903.50 | 0.24 |
| USD | TEXAS INSTRUMENTS INC 1.12500% 21-15.09.26 | 2 500 000.00 | 2 219 339.45 | 0.12 |
| USD | TEXAS INSTRUMENTS INC 1.90000% 21-15.09.31 | 3 000 000.00 | 2 450 074.14 | 0.14 |
| USD | THERMO FISHER SCIENTIFIC INC 2.00000% 21-15.10.31 | 4 500 000.00 | 3 691 769.49 | 0.20 |
| USD | THERMO FISHER SCIENTIFIC INC 1.21500% 21-18.10.24 | 10 000 000.00 | 9 356 864.20 | 0.52 |
| USD | TRUIST BANK-SUB 3.30000% 16-15.05.26 | 27 494 000.00 | 25 774 875.24 | 1.42 |
| USD | UNION PACIFIC CORP 3.70000% 19-01.03.29 | 5 000 000.00 | 4 771 967.65 | 0.26 |
| USD | UNITED RENTALS NORTH AMERICA INC 3.87500% 19-15.11.27 | 11 000 000.00 | 10 081 830.00 | 0.56 |
| USD | UNITEDHEALTH GROUP INC 2.00000% 20-15.05.30 | 11 210 000.00 | 9 329 160.41 | 0.52 |
| USD | VERIZON COMMUNICATIONS INC 4.32900% 18-21.09.28 | 15 116 000.00 | 14 695 465.93 | 0.81 |
| USD | VICI PROPERTIES LP 5.12500% 22-15.05.32 | 4 500 000.00 | 4 221 045.00 | 0.23 |
| USD | VISA INC 1.10000% 20-15.02.31 | 9 000 000.00 | 7 056 236.16 | 0.39 |
| USD | VMWARE INC 3.90000% 17-21.08.27 | 5 000 000.00 | 4 704 964.55 | 0.26 |
| USD | WALT DISNEY CO 2.00000% 19-01.09.29 | 11 000 000.00 | 9 312 391.00 | 0.51 |
| USD | WESTPAC BANKING CORP 2.70000% 16-19.08.26 | 8 661 000.00 | 8 046 477.79 | 0.44 |
| Total USD |  |  | 965 635 453.74 | 53.33 |
| Total Notes, fixed rate |  | 965 635 453.74 | 53.33 |
| Notes, floating rate |  |  |  |
| USD |  |  |  |
| USD	BANK OF AMERICA CORP 3.366%/VAR 18-23.01.26 | 4 000 000.00 | 3 825 390.12 | 0.21 |
| USD	BANK OF AMERICA CORP 3.419%/VAR 18-20.12.28 | 10 000 000.00 | 9 118 532.10 | 0.50 |
| USD	BANK OF AMERICA CORP 4.271%/VAR 18-23.07.29 | 6 000 000.00 | 5 648 046.60 | 0.31 |
| USD	BANK OF AMERICA CORP 2.572%/VAR 21-20.10.32 | 11 000 000.00 | 8 758 766.94 | 0.48 |
| USD	BARCLAYS PLC 1.007%/VAR 20-10.12.24 | 5 959 000.00 | 5 635 060.54 | 0.31 |
| USD	BK OF AMERICA CORP 3.004%/VAR 18-20.12.23 | 15 954 000.00 | 15 935 313.40 | 0.88 |
| USD	CITIGROUP INC 2.666%/VAR 20-29.01.31 | 5 000 000.00 | 4 150 403.60 | 0.23 |
| USD	CITIGROUP INC 6.270%/VAR 22-17.11.33 | 5 000 000.00 | 5 269 459.25 | 0.29 |
| USD	GOLDMAN SACHS GROUP INC 3.691%/VAR 17-05.06.28 | 6 500 000.00 | 6 079 036.01 | 0.34 |
| USD	GOLDMAN SACHS GROUP INC 3.272%/VAR 17-29.09.25 | 5 000 000.00 | 4 813 599.90 | 0.27 |
| USD	HSBC HOLDINGS PLC 0.976%/VAR 21-24.05.25 | 7 500 000.00 | 6 899 217.98 | 0.38 |
| USD	HSBC HOLDINGS PLC 2.206%/VAR 21-17.08.29 | 7 500 000.00 | 6 061 059.83 | 0.34 |
| USD	HSBC HOLDINGS PLC 3.803%/VAR 19-11.03.25 | 6 000 000.00 | 5 810 936.58 | 0.32 |
| USD	JPMORGAN CHASE & CO 3.702%/VAR 19-06.05.30 | 5 000 000.00 | 4 543 541.60 | 0.25 |
| USD	JPMORGAN CHASE & CO 2.301%/VAR 19-15.10.25 | 14 267 000.00 | 13 464 276.23 | 0.74 |
| USD	JPMORGAN CHASE & CO 2.182%/VAR 20-01.06.28 | 14 000 000.00 | 12 247 147.78 | 0.68 |
| USD	JPMORGAN CHASE & CO 1.040%/VAR 21-04.02.27 | 13 000 000.00 | 11 329 230.51 | 0.63 |
| USD	JPMORGAN CHASE & CO 2.545%/VAR 21-08.11.32 | 12 000 000.00 | 9 604 159.08 | 0.53 |

UBS (Lux) Bond SICAV – USD Investment Grade Corporates (USD)
Semi-Annual Report as of 30 November 2022
|  | Description | Quantity/ | Valuation in USD | as a % |
| --- | --- | --- | --- | --- |
|  | Nominal | Unrealized gain | of net |
|  |  | (loss) on Futures/ | assets |
|  |  | Forward |  |
|  |  | Exchange Contracts/ |  |
|  |  | Swaps (Note 1) |  |
|  |  |  |  |  |
| USD | MIZUHO FINANCIAL GROUP INC 2.839%/3M LIBOR+98BP 19-16.07.25 | 6 000 000.00 | 5 701 972.80 | 0.32 |
| USD | VODAFONE GROUP PLC-SUB 3.250%/VAR 21-04.06.81 | 4 000 000.00 | 3 319 200.00 | 0.18 |
| USD | WESTPAC BANKING CORP-SUB 2.668%/VAR 20-15.11.35 | 5 000 000.00 | 3 670 025.50 | 0.20 |
| USD | WESTPAC BANKING CORP-SUB 3.020%/VAR 21-18.11.36 | 7 000 000.00 | 5 114 886.00 | 0.28 |
| Total USD |  |  | 156 999 262.35 | 8.67 |
| Total Notes, floating rate |  | 156 999 262.35 | 8.67 |
| Medium term notes, fixed rate |  |  |  |
| USD |  |  |  |
| USD	BANK OF AMERICA CORP-SUB 4.20000% 14-26.08.24 | 5 500 000.00 | 5 422 929.10 | 0.30 |
| USD	BANK OF AMERICA CORP-SUB 4.25000% 14-22.10.26 | 14 500 000.00 | 14 197 701.54 | 0.78 |
| USD	BANK OF AMERICA CORP-SUB 4.45000% 16-03.03.26 | 14 500 000.00 | 14 261 557.65 | 0.79 |
| USD	BANK OF AMERICA CORP 3.24800% 16-21.10.27 | 10 000 000.00 | 9 218 422.30 | 0.51 |
| USD	BANK OF MONTREAL 1.25000% 21-15.09.26 | 18 000 000.00 | 15 788 082.06 | 0.87 |
| USD	JOHN DEERE CAPITAL CORP 1.50000% 21-06.03.28 | 6 000 000.00 | 5 180 692.08 | 0.29 |
| USD	JOHN DEERE CAPITAL CORP 2.00000% 21-17.06.31 | 6 000 000.00 | 4 897 290.18 | 0.27 |
| USD	JOHN DEERE CAPITAL CORP 1.30000% 21-13.10.26 | 5 000 000.00 | 4 445 632.50 | 0.24 |
| USD	JOHN DEERE CAPITAL CORP 1.70000% 22-11.01.27 | 6 000 000.00 | 5 376 326.82 | 0.30 |
| USD	MORGAN STANLEY-SUB 3.95000% 15-23.04.27 | 25 000 000.00 | 24 093 142.25 | 1.33 |
| USD	ROYAL BANK OF CANADA 2.30000% 21-03.11.31 | 8 800 000.00 | 7 091 214.68 | 0.39 |
| USD	SUMITOMO MITSUI FIN GP INC 3.01000% 16-19.10.26 | 12 000 000.00 | 11 043 614.40 | 0.61 |
| USD	TORONTO-DOMINION BANK/THE 4.45600% 22-08.06.32 | 10 000 000.00 | 9 565 615.40 | 0.53 |
| USD	UNILEVER CAPITAL CORP 5.90000% 02-15.11.32 | 4 500 000.00 | 4 914 092.16 | 0.27 |
| Total USD |  | 135 496 313.12 | 7.48 |
| Total Medium term notes, fixed rate |  | 135 496 313.12 | 7.48 |
| Medium term notes, floating rate |  |  |  |
| USD |  |  |  |
| USD	BANK OF AMERICA CORP 3.970%/3M LIBOR+107BP 18-05.03.29 | 3 399 000.00 | 3 157 311.53 | 0.18 |
| USD	BANK OF AMERICA CORP 2.884%/VAR 19-22.10.30 | 4 000 000.00 | 3 413 459.48 | 0.19 |
| USD	BANK OF AMERICA CORP 2.015%/3M LIBOR+64BP 20-13.02.26 | 5 500 000.00 | 5 096 789.28 | 0.28 |
| USD	BANK OF AMERICA CORP 2.496%/3M LIBOR+99BP 20-13.02.31 | 3 000 000.00 | 2 468 106.90 | 0.14 |
| USD	MORGAN STANLEY 0.864%/VAR 20-21.10.25 | 10 000 000.00 | 9 125 894.50 | 0.50 |
| USD	MORGAN STANLEY 1.794%/VAR 20-13.02.32 | 10 000 000.00 | 7 610 396.10 | 0.42 |
| USD	MORGAN STANLEY 4.889%/VAR 22-20.07.33 | 4 000 000.00 | 3 815 593.88 | 0.21 |
| Total USD |  | 34 687 551.67 | 1.92 |
| Total Medium term notes, floating rate |  | 34 687 551.67 | 1.92 |
| Bonds, fixed rate |  |  |  |
| USD |  |  |  |
| USD	COMCAST CORP 3.15000% 17-15.02.28 | 7 000 000.00 | 6 515 791.24 | 0.36 |
| USD	DUKE ENERGY CAROLINAS LLC 2.45000% 20-01.02.30 | 11 500 000.00 | 9 825 094.11 | 0.54 |
| USD	GOLDMAN SACHS GROUP INC/THE 3.85000% 17-26.01.27 | 7 962 000.00 | 7 650 682.53 | 0.42 |
| USD	JP MORGAN CHASE & CO-SUB 4.25000% 15-01.10.27 | 10 000 000.00 | 9 749 766.40 | 0.54 |
| USD	NATIONAL RURAL UTILITIES COOP FIN CORP 3.90000% 18-01.11.28 | 10 000 000.00 | 9 466 665.80 | 0.52 |
| USD	NSTAR ELECTRIC COMPANY 3.20000% 17-15.05.27 | 3 500 000.00 | 3 299 344.93 | 0.18 |
| USD	SAN DIEGO GAS & ELECTRIC CO 3.00000% 22-15.03.32 | 3 000 000.00 | 2 586 904.71 | 0.14 |
| USD	SOUTHERN CALIFORNIA EDISON CO 3.70000% 18-01.08.25 | 7 000 000.00 | 6 805 096.20 | 0.38 |
| USD	SOUTHERN CALIFORNIA EDISON CO 2.85000% 19-01.08.29 | 3 000 000.00 | 2 623 799.31 | 0.15 |
| Total USD |  | 58 523 145.23 | 3.23 |
| Total Bonds, fixed rate |  | 58 523 145.23 | 3.23 |
| Bonds, floating rate |  |  |  |
| USD |  |  |  |
| USD	BP CAPITAL MARKETS PLC-SUB 4.375%/VAR 20-PRP | 8 500 000.00 | 8 085 625.00 | 0.45 |
| USD	GOLDMAN SACHS GROUP INC 4.223%/VAR 18-01.05.29 | 10 000 000.00 | 9 394 604.90 | 0.52 |
| Total USD |  | 17 480 229.90 | 0.97 |
| Total Bonds, floating rate |  | 17 480 229.90 | 0.97 |
| Treasury notes, fixed rate |  |  |  |
| USD |  |  |  |
| USD	AMERICA, UNITED STATES OF 2.75000% 22-15.08.32 | 33 000 000.00 | 30 566 250.00 | 1.68 |
| Total USD |  | 30 566 250.00 | 1.68 |
| Total Treasury notes, fixed rate |  | 30 566 250.00 | 1.68 |
| Total Transferable securities and money market instruments listed on an official stock exchange |  | 1 399 388 206.01 | 77.28 |
| Transferable securities and money market instruments traded on another regulated market |  |  |  |
| Notes, fixed rate |  |  |  |
| USD |  |  |  |
| USD	AKER BP ASA-144A 3.75000% 20-15.01.30 | 4 000 000.00 | 3 544 943.56 | 0.20 |
| USD	ANTHEM INC 5.35000% 22-15.10.25 | 3 000 000.00 | 3 042 086.82 | 0.17 |
| USD	ANTHEM INC 5.50000% 22-15.10.32 | 4 850 000.00 | 5 006 414.29 | 0.28 |
| USD	AUSTRALIA & NEW ZEALAND BANK-144A-SUB 2.57000% 20-25.11.35 | 8 000 000.00 | 5 834 853.04 | 0.32 |
| USD	AVOLON HOLDINGS FUNDING LTD-144A 2.12500% 21-21.02.26 | 9 000 000.00 | 7 669 440.00 | 0.42 |
| USD	AVOLON HOLDINGS FUNDING LTD-144A 2.75000% 21-21.02.28 | 500 000.00 | 401 050.00 | 0.02 |
| USD	BACARDI LTD-144A 4.45000% 18-15.05.25 | 11 000 000.00 | 10 679 240.00 | 0.59 |
| USD	BAXTER INTERNATIONAL INC 1.32200% 22-29.11.24 | 16 000 000.00 | 14 881 242.72 | 0.82 |
| USD	BAXTER INTERNATIONAL INC 1.91500% 22-01.02.27 | 6 000 000.00 | 5 346 833.46 | 0.30 |
| USD	BROADCOM INC 4.11000% 20-15.09.28 | 5 311 000.00 | 4 962 470.03 | 0.28 |

UBS (Lux) Bond SICAV – USD Investment Grade Corporates (USD) Semi-Annual Report as of 30 November 2022
|  | Description | Quantity/ | Valuation in USD | as a % |
| --- | --- | --- | --- | --- |
|  | Nominal | Unrealized gain | of net |
|  |  | (loss) on Futures/ | assets |
|  |  | Forward |  |
|  |  | Exchange Contracts/ |  |
|  |  | Swaps (Note 1) |  |
|  |  |  |  |  |
| USD | CHENIERE CORPUS CHRISTI HLDGS LLC 5.12500% 17-30.06.27 | 3 500 000.00 | 3 504 736.66 | 0.19 |
| USD | CHEVRON PHILLIPS CHEMICAL CO LLC-144A 3.70000% 18-01.06.28 | 7 000 000.00 | 6 586 283.69 | 0.36 |
| USD | CSL FINANCE PLC-144A 4.25000% 22-27.04.32 | 8 250 000.00 | 7 803 640.34 | 0.43 |
| USD | DAIMLER FINANCE NORTH AMERICA LLC-144A 2.70000% 19-14.06.24 | 5 000 000.00 | 4 818 928.95 | 0.27 |
| USD | DELTA AIR LINES INC-144A 7.00000% 20-01.05.25 | 11 250 000.00 | 11 463 613.43 | 0.63 |
| USD | ENEL FINANCE INTERNATIONAL SA-144A 2.65000% 19-10.09.24 | 8 000 000.00 | 7 645 127.04 | 0.42 |
| USD | EXELON CORP-144A 2.75000% 22-15.03.27 | 2 000 000.00 | 1 843 476.18 | 0.10 |
| USD | FIVE CORNERS FUNDING TRUST II -144A 2.85000% 20-15.05.30 | 10 000 000.00 | 8 484 280.80 | 0.47 |
| USD | GLP CAPITAL LP / GLP FINANC II INC 4.00000% 19-15.01.30 | 5 000 000.00 | 4 337 650.00 | 0.24 |
| USD | HCA INC-144A 3.12500% 22-15.03.27 | 3 000 000.00 | 2 728 841.28 | 0.15 |
| USD | HONEYWELL INTERNATIONAL INC 4.95000% 22-15.02.28 | 4 000 000.00 | 4 080 731.00 | 0.23 |
| USD | HONEYWELL INTERNATIONAL INC 5.00000% 22-15.02.33 | 7 000 000.00 | 7 204 587.88 | 0.40 |
| USD | INFOR INC-144A 1.45000% 20-15.07.23 | 3 000 000.00 | 2 912 704.95 | 0.16 |
| USD | KINDER MORGAN INC-144A 5.62500% 13-15.11.23 | 3 225 000.00 | 3 224 185.01 | 0.18 |
| USD | LUNDIN ENERGY FINANCE BV-144A 2.00000% 21-15.07.26 | 5 000 000.00 | 4 402 029.75 | 0.24 |
| USD | LUNDIN ENERGY FINANCE BV-144A 3.10000% 21-15.07.31 | 3 500 000.00 | 2 884 161.07 | 0.16 |
| USD | MACQUARIE BANK LTD-144A-SUB 3.62400% 20-03.06.30 | 3 660 000.00 | 2 955 363.26 | 0.16 |
| USD | NESTLE HOLDINGS INC-144A 0.62500% 20-15.01.26 | 12 500 000.00 | 11 078 397.00 | 0.61 |
| USD | NESTLE HOLDINGS INC-144A 1.50000% 21-14.09.28 | 13 500 000.00 | 11 472 948.81 | 0.63 |
| USD | NXP BV / NXP FUNDING LLC 4.87500% 22-01.03.24 | 2 000 000.00 | 1 977 250.00 | 0.11 |
| USD | NXP BV / NXP FUNDING LLC 5.55000% 22-01.12.28 | 12 000 000.00 | 11 943 750.00 | 0.66 |
| USD | ONCOR ELECTRIC DELIVERY CO LLC-144A 4.55000% 22-15.09.32 | 2 000 000.00 | 1 969 498.54 | 0.11 |
| USD | PARKER-HANNIFIN CORP 4.25000% 22-15.09.27 | 3 600 000.00 | 3 491 374.21 | 0.19 |
| USD | PENSKE TRUCK LEASING/PTL FIN CORP-144A 1.20000% 20-15.11.25 | 5 000 000.00 | 4 397 421.60 | 0.24 |
| USD | ROCHE HOLDINGS INC-144A 2.07600% 21-13.12.31 | 11 000 000.00 | 9 084 239.34 | 0.50 |
| USD | SANTOS FINANCE LTD-144A 3.64900% 21-29.04.31 | 3 500 000.00 | 2 796 870.30 | 0.16 |
| USD | SCENTRE GROUP TRUST 1 / 2-144A 3.25000% 15-28.10.25 | 11 995 000.00 | 11 198 631.56 | 0.62 |
| USD | SIEMENS FINANCIERINGSMAATSCH NV-144A 2.15000% 21-11.03.31 | 7 500 000.00 | 6 163 502.02 | 0.34 |
| USD | SOCIETE GENERALE-144A 2.62500% 19-16.10.24 | 10 000 000.00 | 9 419 824.90 | 0.52 |
| USD | TECK RESOURCES LTD 3.90000% 20-15.07.30 | 6 000 000.00 | 5 394 136.50 | 0.30 |
| USD | TRITON CONTAINER INTERNATIONAL LTD-144A 1.15000% 21-07.06.24 | 3 000 000.00 | 2 764 312.50 | 0.15 |
| USD | UNITED AIRLINES INC-144A 4.37500% 21-15.04.26 | 9 000 000.00 | 8 379 226.80 | 0.46 |
| USD | UNITEDHEALTH GROUP INC 5.25000% 22-15.02.28 | 4 000 000.00 | 4 114 592.84 | 0.23 |
| Total USD |  |  | 253 894 892.13 | 14.02 |
| Total Notes, fixed rate |  | 253 894 892.13 | 14.02 |
| Notes, floating rate |  |  |  |
| USD |  |  |  |
| USD	BNP PARIBAS-144A 3.052%/VAR 20-13.01.31 | 3 650 000.00 | 3 026 425.57 | 0.17 |
| USD	DNB BANK ASA-144A 0.856%/VAR 21-30.09.25 | 5 000 000.00 | 4 588 635.55 | 0.25 |
| USD	ING GROEP NV 3.869%/VAR 22-28.03.26 | 2 800 000.00 | 2 689 744.71 | 0.15 |
| Total USD |  | 10 304 805.83 | 0.57 |
| Total Notes, floating rate |  | 10 304 805.83 | 0.57 |
| Medium term notes, fixed rate |  |  |  |
| USD |  |  |  |
| USD	NATIONAL AUSTRALIA BANK LTD-144A-SUB 2.33200% 20-21.08.30 | 14 605 000.00 | 11 091 031.15 | 0.61 |
| USD	NBN CO LTD-144A 0.87500% 21-08.10.24 | 17 000 000.00 | 15 623 571.20 | 0.86 |
| USD	SOCIETE GENERALE SA-144A 2.62500% 20-22.01.25 | 8 000 000.00 | 7 471 654.56 | 0.42 |
| Total USD |  | 34 186 256.91 | 1.89 |
| Total Medium term notes, fixed rate |  | 34 186 256.91 | 1.89 |
| Medium term notes, floating rate |  |  |  |
| USD |  |  |  |
| USD	AUSTRALIA & NEWZEALAND BKG-144A-SUB 2.950%/VAR 20-22.07.30 | 2 650 000.00 | 2 360 619.20 | 0.13 |
| USD	COMMONWEALTH BANK AUSRALIA-144A-SUB 3.610%/VAR 19-12.09.34 | 9 570 000.00 | 7 819 111.08 | 0.43 |
| USD	COOPERATIEVE RABOBANK UA-144A 1.339%/VAR 20-24.06.26 | 10 200 000.00 | 9 130 886.08 | 0.51 |
| Total USD |  | 19 310 616.36 | 1.07 |
| Total Medium term notes, floating rate |  | 19 310 616.36 | 1.07 |
| Bonds, fixed rate |  |  |  |
| USD |  |  |  |
| USD	MICROCHIP TECHNOLOGY INC 0.98300% 21-01.09.24 | 5 000 000.00 | 4 623 014.60 | 0.25 |
| USD	NGPL PIPECO LLC-144A 4.87500% 17-15.08.27 | 9 500 000.00 | 9 039 753.02 | 0.50 |
| USD	SYDNEY AIRPORT FINANCE CO PTY LTD-144A 3.62500% 16-28.04.26 | 5 500 000.00 | 5 126 501.05 | 0.28 |
| Total USD |  | 18 789 268.67 | 1.03 |
| Total Bonds, fixed rate |  | 18 789 268.67 | 1.03 |
| Total Transferable securities and money market instruments traded on another regulated market |  | 336 485 839.90 | 18.58 |
| Recently issued transferable securities and money market instruments |  |  |  |
| Notes, fixed rate |  |  |  |
| USD |  |  |  |
| USD	ALCON FINANCE CORP-144A 5.37500% 22-06.12.32 | 7 000 000.00 | 7 050 941.87 | 0.39 |
| USD	MAGALLANES INC-144A 3.75500% 22-15.03.27 | 10 000 000.00 | 9 112 828.20 | 0.50 |
| USD	MAGALLANES INC-144A 4.27900% 22-15.03.32 | 10 000 000.00 | 8 489 991.50 | 0.47 |
| Total USD |  | 24 653 761.57 | 1.36 |
| Total Notes, fixed rate |  | 24 653 761.57 | 1.36 |
| Total Recently issued transferable securities and money market instruments |  | 24 653 761.57 | 1.36 |

UBS (Lux) Bond SICAV – USD Investment Grade Corporates (USD)
Semi-Annual Report as of 30 November 2022
| Description	Quantity/ | Valuation in USD | as a % |
| --- | --- | --- |
| Nominal | Unrealized gain | of net |
|  | (loss) on Futures/ | assets |
|  | Forward |  |
|  | Exchange Contracts/ |  |
|  | Swaps (Note 1) |  |

UCITS/Other UCIs in accordance with Article 41 (1) e) of the amended Luxembourg law of 17 December 2010
Investment funds, open end
Luxembourg
| USD | UBS(LUX)BOND SICAV-GLBL SDG CORPORATES SUSTNBLE(USD) U-X-ACC | 410.00 | 4 163 119.50 | 0.23 |
| --- | --- | --- | --- | --- |
| Total Luxembourg | 4 163 119.50 | 0.23 |
| Total Investment funds, open end | 4 163 119.50 | 0.23 |
| Total UCITS/Other UCIs in accordance with Article 41 (1) e) of the amended Luxembourg law of 17 December 2010 | 4 163 119.50 | 0.23 |
| Total investments in securities | 1 764 690 926.98 | 97.45 |

| Derivative instruments |  |
| --- | --- |
| Derivative instruments listed on an official stock exchange |
| Financial Futures on bonds |
|  |  |  |  |
| USD	US 10YR TREASURY NOTE FUTURE 22.03.23 | -125.00 | -58 671.88 | 0.00 |
| USD	US 5YR TREASURY NOTE FUTURE 31.03.23 | -193.00 | -123 640.63 | -0.01 |
| Total Financial Futures on bonds |  | -182 312.51 | -0.01 |
| Total Derivative instruments listed on an official stock exchange |  | -182 312.51 | -0.01 |
| Total Derivative instruments |  | -182 312.51 | -0.01 |
| Forward Foreign Exchange contracts |  |  |  |
| Currency purchased/Amount purchased/Currency sold/Amount sold/Maturity date |  |  |  |

| EUR | 32 038 200.00 | USD | 33 556 025.74 | 12.1.2023 | -448 981.63 | -0.02 |
| --- | --- | --- | --- | --- | --- | --- |
| CHF | 229 534 800.00 | USD | 245 829 616.10 | 12.1.2023 | -3 550 404.73 | -0.20 |
| CHF | 4 036 400.00 | USD | 4 255 324.08 | 12.1.2023 | 5 188.09 | 0.00 |
| USD | 367 687.80 | EUR | 352 000.00 | 12.1.2023 | 3 944.53 | 0.00 |
| Total Forward Foreign Exchange contracts | -3 990 253.74 | -0.22 |
|  |  |  |
| Cash at banks, deposits on demand and deposit accounts and other liquid assets | 38 950 272.50 | 2.15 |
| Bank overdraft and other short-term liabilities | -9.33 | 0.00 |
| Other assets and liabilities | 11 368 669.07 | 0.63 |
| Total net assets | 1 810 837 292.97 | 100.00 |

UBS (Lux) Bond SICAV – USD Investment Grade Corporates (USD) Semi-Annual Report as of 30 November 2022

Translation (ENFR, 2022-11-30):
# UBS (Lux) Bond SICAV
– USD Investment Grade Corporates Sustainable (USD)
| Données principales |  |
| --- | --- |
|  | ISIN | 30.11.2022 | 31.5.2022 | 31.5.2021 |
| Actif net en USD |  | 1 810 837 292.97 | 1 798 185 759.64 | 2 312 275 078.09 |
| Catégorie F-acc | LU1611257095 |  |  |  |
| Actions en circulation |  | 1 971.9910 | 2 438.5910 | 4 507.5910 |
| Valeur nette d’inventaire par action en USD |  | 105 443.50 | 108 272.03 | 116 883.59 |
| Prix d’émission et de rachat par action en USD 1 |  | 105 443.50 | 108 272.03 | 116 883.59 |
| Catégorie I-A1-acc 2 | LU2542764720 |  |  |  |
| Actions en circulation |  | 100.0000 | - | - |
| Valeur nette d’inventaire par action en USD |  | 102.97 | - | - |
| Prix d’émission et de rachat par action en USD 1 |  | 102.97 | - | - |
| Catégorie I-A3-acc 2 | LU1630042247 |  |  |  |
| Actions en circulation |  | 100.0000 | - | - |
| Valeur nette d’inventaire par action en USD |  | 102.98 | - | - |
| Prix d’émission et de rachat par action en USD 1 |  | 102.98 | - | - |
| Catégorie I-B-acc 3 | LU2545180692 |  |  |  |
| Actions en circulation |  | 345 050.5750 | - | - |
| Valeur nette d’inventaire par action en USD |  | 102.93 | - | - |
| Prix d’émission et de rachat par action en USD 1 |  | 102.93 | - | - |
| Catégorie U-X-acc | LU1469614280 |  |  |  |
| Actions en circulation |  | 115 278.8450 | 112 555.8450 | 122 589.8450 |
| Valeur nette d’inventaire par action en USD |  | 11 111.81 | 11 389.33 | 12 251.03 |
| Prix d’émission et de rachat par action en USD 1 |  | 11 111.81 | 11 389.33 | 12 251.03 |
| Catégorie (CHF hedged) U-X-acc | LU1469622465 |  |  |  |
| Actions en circulation |  | 24 879.5270 | 19 894.9160 | 19 390.9160 |
| Valeur nette d’inventaire par action en CHF |  | 9 677.23 | 10 075.50 | 10 961.58 |
| Prix d’émission et de rachat par action en CHF 1 |  | 9 677.23 | 10 075.50 | 10 961.58 |
| Catégorie (EUR hedged) U-X-acc | LU2337795806 |  |  |  |
| Actions en circulation |  | 3 679.0000 | 4 350.2150 | 3 851.0000 |
| Valeur nette d’inventaire par action en EUR |  | 8 897.60 | 9 248.45 | 10 028.13 |
| Prix d’émission et de rachat par action en EUR 1 |  | 8 897.60 | 9 248.45 | 10 028.13 |
| 1  Voir note 1 2  Première VNI 2.11.2022 3  Première VNI 9.11.2022 |  |  |  |  |
| Structure du portefeuille-titres |  |  |  |  |

Répartition géographique en % de l’actif net	
Etats-Unis	69.73
Grande-Bretagne	7.55
Australie	4.51
Canada	3.40
Japon	2.17
Pays-Bas	2.04
Norvège	1.51
France	1.34
Irlande	1.30
Multinationaux	0.77
Bermudes	0.74
Luxembourg	0.52
Suède	0.51
Iles Caïmans	0.45
Italie	0.35
Jersey	0.23
Suisse	0.22
Guernesey	0.11
Total	97.45
Répartition économique en % de l’actif net	
Banques & instituts de crédit	28.92
Etablissements financiers et sociétés de participation	21.43
Distribution d’énergie & d’eau	5.42
Télécommunications	4.10
Internet, logiciels et services informatiques	3.62
Electronique et semi-conducteurs	3.02
Pétrole	2.91
Commerce de détail, centres commerciaux	2.86
Produits pharmaceutiques, cosmétiques & médicaux	2.68
Soins de santé & services sociaux	2.53
Trafic et transport	2.35
Alimentation & softs	2.14
Gouvernements nationaux et centraux	1.69
Immobilier	1.46
Appareils et composants électriques	1.36
Assurances	1.36
Equipement informatique et de réseau	1.32
Tabac et boissons alcoolisées	1.14
Biotechnologie	0.94
Diverses sociétés commerciales	0.93
Services divers	0.82
Industrie minière, charbon et acier	0.78
Industrie graphique, édition et médias	0.63
Industrie aéronautique et spatiale	0.62
Machines et appareils	0.53
Textiles, habillement & maroquinerie	0.45
Chimie	0.45
Véhicules	0.40
Restauration et loisirs	0.24
Fonds de placement	0.23
Total	97.45
Métaux non ferreux	0.12
UBS (Lux) Bond SICAV – USD Investment Grade Corporates (USD) Rapport semestriel au 30 novembre 2022

## Etat des actifs nets
Actif	30.11.2022
USD
Portefeuille-titres, cours d’achat	1 938 383 240.65
| Portefeuille-titres, plus- (moins-) value non-réalisée | 	-173 692 313.67	 |
| --- | --- |
| Total portefeuille-titres (note 1) | 1 764 690 926.98 |
| Avoirs en banque, dépôts à vue et à terme | 38 678 492.85 |
| Autres liquidités (marges) | 271 779.65 |
| A recevoir sur ventes de titres (note 1) | 7 789 028.38 |
| A recevoir sur souscriptions | 4 999 999.92 |
| Intérêts à recevoir sur titres | 13 521 921.83 |
| Total Actif | 1 829 952 149.61 |
|  |  |
| Passif |  |
| Perte non réalisée sur contrats financiers à terme (note 1) | -182 312.51 |
| Perte non réalisée sur contrats de change à terme (note 1) | -3 990 253.74 |
| Crédit en compte courant | -9.33 |
| A payer sur achats de titres (note 1) | -14 241 180.50 |
| Provisions pour commission de gestion forfaitaire (note 2) | -61 378.50 |
| Provisions pour taxe d’abonnement (note 3) | -29 947.60 |
| Provisions pour autres commissions et frais (note 2) | 	-609 774.46	 |
| Total des Provisions pour frais | -701 100.56 |
| Total Passif | -19 114 856.64 |
|  |  |
| Actifs nets à la fin de la période | 1 810 837 292.97 |
| Etat des opérations | USD |
| Revenus | 1.6.2022-30.11.2022 |
| Revenus d’intérêts sur liquidités | 280 777.79 |
| Intérêts sur titres | 27 956 907.46 |
| Revenus nets sur prêts de titres (note 11) | 12 130.22 |
| Autres revenus (note 4) | 656 826.79 |
| Total des Revenus | 28 906 642.26 |
|  |  |
| Charges |  |
| Commission de gestion forfaitaire (note 2) | -419 363.04 |
| Taxe d’abonnement (note 3) | -83 808.23 |
| Autres commissions et frais (note 2) | -113 254.95 |
| Total des Charges | -616 426.22 |
|  |  |
| Revenus (Pertes) net(te)s des investissements | 28 290 216.04 |
|  |  |
| Bénéfices (pertes) réalisé(e)s (note 1) |  |
| Bénéfice (perte) réalisé(e) sur titres évalués à la valeur de marché hors options | -18 634 026.43 |
| Bénéfice (perte) réalisé(e) sur contrats financiers à terme | -3 376 702.90 |
| Bénéfice (perte) réalisé(e) sur contrats de change à terme | -2 959 373.79 |
| Bénéfice (perte) réalisé(e) de change réalisé(e) | 9 341 515.50 |
| Total des Bénéfices (pertes) réalisé(e)s | -15 628 587.62 |
|  |  |
| Bénéfice (perte) net(te) réalisé(e) au cours de la période | 12 661 628.42 |
|  |  |
| Variations des plus- (moins-) values non-réalisées (note 1) |  |
| Plus- (Moins-) value non réalisée sur titres évalués à la valeur de marché hors options | -48 042 291.26 |
| Plus- (Moins-) value non réalisée sur contrats financiers à terme | 149 031.24 |
| Plus- (Moins-) value non réalisée sur contrats de change à terme | -10 731 761.02 |
| Total des Variations des plus- (moins-) values non-réalisées | -58 625 021.04 |
|  |  |
| Augmentation/(diminution) nette de l’actif net issue de l’activité | -45 963 392.62 |

UBS (Lux) Bond SICAV – USD Investment Grade Corporates (USD)
Rapport semestriel au 30 novembre 2022
| Variations de l’actif net |  |
| --- | --- |
|  | USD |
|  | 1.6.2022-30.11.2022 |
| Actif net au début de la période | 1 798 185 759.64 |
| Souscriptions | 263 326 512.51 |
| Rachats | 	-204 711 586.56	 |
| Souscriptions (Rachats) net(te)s | 58 614 925.95 |
| Revenus (Pertes) net(te)s des investissements | 28 290 216.04 |
| Total des Bénéfices (pertes) réalisé(e)s | -15 628 587.62 |
| Total des Variations des plus- (moins-) values non-réalisées | 	-58 625 021.04	 |
| Augmentation/(diminution) nette de l’actif net issue de l’activité | -45 963 392.62 |
| Actifs nets à la fin de la période | 1 810 837 292.97 |
| Evolution des actions en circulation |  |
|  | 1.6.2022-30.11.2022 |
| Catégorie | F-acc |
| Nombre d’actions en circulation au début de la période | 2 438.5910 |
| Nombre d’actions émises | 40.0000 |
| Nombre d’actions rachetées | -506.6000 |
| Nombre d’actions en circulation à la fin de la période | 1 971.9910 |
| Catégorie | I-A1-acc |
| Nombre d’actions en circulation au début de la période | 0.0000 |
| Nombre d’actions émises | 100.0000 |
| Nombre d’actions rachetées | 0.0000 |
| Nombre d’actions en circulation à la fin de la période | 100.0000 |
| Catégorie | I-A3-acc |
| Nombre d’actions en circulation au début de la période | 0.0000 |
| Nombre d’actions émises | 100.0000 |
| Nombre d’actions rachetées | 0.0000 |
| Nombre d’actions en circulation à la fin de la période | 100.0000 |
| Catégorie | I-B-acc |
| Nombre d’actions en circulation au début de la période | 0.0000 |
| Nombre d’actions émises | 345 050.5750 |
| Nombre d’actions rachetées | 0.0000 |
| Nombre d’actions en circulation à la fin de la période | 345 050.5750 |
| Catégorie | U-X-acc |
| Nombre d’actions en circulation au début de la période | 112 555.8450 |
| Nombre d’actions émises | 14 256.0000 |
| Nombre d’actions rachetées | -11 533.0000 |
| Nombre d’actions en circulation à la fin de la période | 115 278.8450 |
| Catégorie | (CHF hedged) U-X-acc |
| Nombre d’actions en circulation au début de la période | 19 894.9160 |
| Nombre d’actions émises | 6 273.6110 |
| Nombre d’actions rachetées | -1 289.0000 |
| Nombre d’actions en circulation à la fin de la période | 24 879.5270 |
| Catégorie | (EUR hedged) U-X-acc |
| Nombre d’actions en circulation au début de la période | 4 350.2150 |
| Nombre d’actions émises | 521.0000 |
| Nombre d’actions rachetées | -1 192.2150 |
| Nombre d’actions en circulation à la fin de la période | 3 679.0000 |

UBS (Lux) Bond SICAV – USD Investment Grade Corporates (USD) Rapport semestriel au 30 novembre 2022

## Etat du portefeuille-titres et autres actifs nets au 30 novembre 2022
| Dénomination | Nombre/ | Evaluation en USD | en % |
| --- | --- | --- | --- |
|  | Nominal | Bénéfice/(perte) non | de |
|  |  | réalisé(e) sur futures/ | l’actif |
|  |  | Contrats de | net |
|  |  | change à terme/ |  |
|  |  | Swaps (note 1) |  |
| Titres et instruments du marché monétaire négociés sur une bourse officielle Billets, taux fixe |  |  |  |
| USD |  |  |  |
| USD	ABBVIE INC 3.20000% 20-21.11.29 | 5 000 000.00 | 4 564 890.70 | 0.25 |
| USD	ADOBE INC 2.30000% 20-01.02.30 | 3 946 000.00 | 3 393 027.65 | 0.19 |
| USD	AERCAP IRELAND CAP/ GLBL AVIATION TRUST 6.50000% 20-15.07.25 | 4 000 000.00 | 4 041 040.28 | 0.22 |
| USD	AERCAP IRELAND CAPITAL DAC / AERCAP 1.65000% 21-29.10.24 | 6 500 000.00 | 5 981 077.11 | 0.33 |
| USD	AERCAP IRELAND CAPITAL DAC / AERCAP GLO 2.45000% 21-29.10.26 | 10 000 000.00 | 8 792 954.00 | 0.49 |
| USD	AIR LEASE CORP 3.25000% 18-01.03.25 | 10 150 000.00 | 9 621 336.24 | 0.53 |
| USD	AIR LEASE CORP 5.85000% 22-15.12.27 | 7 350 000.00 | 7 300 161.05 | 0.40 |
| USD	ALEXANDRIA REAL ESTATE EQUITY INC 1.87500% 20-01.02.33 | 5 000 000.00 | 3 718 252.70 | 0.21 |
| USD	ALLY FINANCIAL INC 5.12500% 14-30.09.24 | 1 600 000.00 | 1 587 362.88 | 0.09 |
| USD	ALLY FINANCIAL INC 5.80000% 20-01.05.25 | 1 000 000.00 | 1 004 127.58 | 0.06 |
| USD	ALPHABET INC 1.10000% 20-15.08.30 | 7 802 000.00 | 6 206 105.73 | 0.34 |
| USD	AMAZON.COM INC 1.20000% 20-03.06.27 | 12 500 000.00 | 10 910 935.13 | 0.60 |
| USD	AMERICAN EXPRESS CO 3.95000% 22-01.08.25 | 10 000 000.00 | 9 792 629.10 | 0.54 |
| USD	AMERICAN INTERNATIONAL GROUP INC 4.25000% 19-15.03.29 | 3 000 000.00 | 2 813 598.78 | 0.16 |
| USD	AMGEN INC 2.45000% 20-21.02.30 | 4 502 000.00 | 3 842 855.38 | 0.21 |
| USD	ANALOG DEVICES INC 1.70000% 21-01.10.28 | 6 000 000.00 | 5 136 203.10 | 0.28 |
| USD	ANGLO AMERICAN CAPITAL PLC-144A 4.87500% 15-14.05.25 | 1 953 000.00 | 1 936 087.02 | 0.11 |
| USD	ANHEUSER-BUSCH INBEV WORLDWIDE INC 4.75000% 19-23.01.29 | 10 000 000.00 | 9 993 876.60 | 0.55 |
| USD	ANZ NEW ZEALAND INT’L LTD/LONDON-144A 1.25000% 21-22.06.26 | 6 300 000.00 | 5 504 333.94 | 0.30 |
| USD	AON CORP 2.80000% 20-15.05.30 | 5 000 000.00 | 4 275 871.15 | 0.24 |
| USD	APPLE INC 1.65000% 20-11.05.30 | 10 360 000.00 | 8 622 397.91 | 0.48 |
| USD	APTIV PLC 2.39600% 22-18.02.25 | 4 500 000.00 | 4 232 412.72 | 0.23 |
| USD	ARCELORMITTAL SA 6.55000% 22-29.11.27 | 5 250 000.00 | 5 295 256.94 | 0.29 |
| USD	ASHTEAD CAPITAL INC-144A 4.25000% 19-01.11.29 | 5 250 000.00 | 4 752 608.65 | 0.26 |
| USD	ASHTEAD CAPITAL INC-144A 1.50000% 21-12.08.26 | 1 500 000.00 | 1 284 397.04 | 0.07 |
| USD	ASTRAZENECA PLC 4.00000% 18-17.01.29 | 5 000 000.00 | 4 854 734.30 | 0.27 |
| USD	AT&T INC 2.75000% 20-01.06.31 | 12 000 000.00 | 10 086 934.20 | 0.56 |
| USD	AT&T INC 4.30000% 18-15.02.30 | 2 910 000.00 | 2 764 780.64 | 0.15 |
| USD	BANK OF NOVA SCOTIA-SUB 4.50000% 15-16.12.25 | 6 050 000.00 | 5 974 461.82 | 0.33 |
| USD	BARCLAYS PLC 3.65000% 15-16.03.25 | 7 000 000.00 | 6 676 881.68 | 0.37 |
| USD	BARCLAYS PLC 5.50100% 22-09.08.28 | 13 000 000.00 | 12 588 151.03 | 0.70 |
| USD	BARCLAYS PLC-SUB 4.37500% 14-11.09.24 | 11 750 000.00 | 11 443 937.64 | 0.63 |
| USD	BP CAPITAL MARKETS AMERICA INC 3.41000% 19-11.02.26 | 10 000 000.00 | 9 667 597.60 | 0.53 |
| USD	BRISTOL-MYERS SQUIBB CO 3.20000% 20-15.06.26 | 5 250 000.00 | 5 042 890.49 | 0.28 |
| USD	BRITISH TELECOMMUNICATIONS PLC 4.50000% 18-04.12.23 | 10 614 000.00 | 10 523 414.39 | 0.58 |
| USD	BROADCOM CORP/CAYMAN FIN LTD 3.87500% 18-15.01.27 | 6 849 000.00 | 6 483 806.05 | 0.36 |
| USD	BROADCOM CORP/CAYMAN FIN LTD 3.50000% 18-15.01.28 | 2 049 000.00 | 1 874 485.89 | 0.10 |
| USD	BROADCOM INC 4.30000% 20-15.11.32 | 3 500 000.00 | 3 112 194.26 | 0.17 |
| USD	CANADIAN IMPERIAL BANK OF COMMERCE 1.00000% 21-18.10.24 | 6 000 000.00 | 5 582 860.74 | 0.31 |
| USD	CANADIAN PACIFIC RAILWAY 1.75000% 21-02.12.26 | 7 000 000.00 | 6 255 641.21 | 0.35 |
| USD	CANADIAN PACIFIC RAILWAY 2.45000% 21-02.12.31 | 2 500 000.00 | 2 083 449.73 | 0.12 |
| USD	CAPITAL ONE FINANCIAL CORP-SUB 4.20000% 15-29.10.25 | 9 501 000.00 | 9 212 843.03 | 0.51 |
| USD	CCO LLC/CAPITAL 2.80000% 20-01.04.31 | 3 000 000.00 | 2 373 789.15 | 0.13 |
| USD	CCO LLC/CAPITAL 4.90800% 16-23.07.25 | 8 000 000.00 | 7 874 332.64 | 0.44 |
| USD	CENTENE CORP 2.45000% 21-15.07.28 | 9 000 000.00 | 7 568 803.80 | 0.42 |
| USD	CIGNA CORP 2.40000% 20-15.03.30 | 3 000 000.00 | 2 548 006.41 | 0.14 |
| USD	CIGNA CORP 4.12500% 19-15.11.25 | 5 500 000.00 | 5 409 697.26 | 0.30 |
| USD	CITIGROUP INC 3.20000% 16-21.10.26 | 10 000 000.00 | 9 338 190.10 | 0.52 |
| USD	CITIGROUP INC 3.70000% 16-12.01.26 | 5 750 000.00 | 5 519 426.77 | 0.31 |
| USD	CITIGROUP INC-SUB 4.45000% 15-29.09.27 | 18 000 000.00 | 17 336 531.34 | 0.96 |
| USD	CITIGROUP INC-SUB 4.60000% 16-09.03.26 | 5 000 000.00 | 4 929 496.80 | 0.27 |
| USD	CITIGROUP INC-SUB 5.50000% 13-13.09.25 | 6 250 000.00 | 6 343 165.56 | 0.35 |
| USD	CMS ENERGY CORP 3.60000% 15-15.11.25 | 3 000 000.00 | 2 874 651.06 | 0.16 |
| USD	COCA-COLA CO/THE 1.65000% 20-01.06.30 | 6 954 000.00 | 5 725 540.29 | 0.32 |
| USD	COMCAST CORP 4.25000% 18-15.10.30 | 5 000 000.00 | 4 817 701.35 | 0.27 |
| USD	COSTCO WHOLESALE CORP 1.60000% 20-20.04.30 | 9 000 000.00 | 7 437 220.20 | 0.41 |
| USD	CREDIT AGRICOLE SA-144A-SUB 4.37500% 15-17.03.25 | 4 500 000.00 | 4 316 220.00 | 0.24 |
| USD	CREDIT SUISSE GROUP AG-144A 4.28200% 17-09.01.28 | 5 000 000.00 | 4 074 060.70 | 0.22 |
| USD	CREDIT SUISSE GROUP AG 4.55000% 16-17.04.26 | 2 250 000.00 | 1 955 460.42 | 0.11 |
| USD	CVS HEALTH CORP 1.75000% 20-21.08.30 | 5 000 000.00 | 3 982 504.35 | 0.22 |
| USD	CVS HEALTH CORP 1.87500% 20-28.02.31 | 3 000 000.00 | 2 390 168.91 | 0.13 |
| USD	DELL INTERNATIONAL LLC / EMC CORP 6.02000% 21-15.06.26 | 12 000 000.00 | 12 255 063.48 | 0.68 |
| USD	DOMINION ENERGY INC 3.37500% 20-01.04.30 | 15 000 000.00 | 13 287 845.10 | 0.73 |
| USD	DTE ENERGY CO 2.95000% 19-01.03.30 | 9 000 000.00 | 7 720 495.02 | 0.43 |
| USD	DTE ENERGY CO 3.40000% 19-15.06.29 | 7 463 000.00 | 6 667 393.22 | 0.37 |
| USD	EBAY INC 2.60000% 21-10.05.31 | 3 650 000.00 | 2 998 474.75 | 0.17 |
| USD	ENBRIDGE ENERGY PARTNERS LP 5.87500% 15-15.10.25 | 13 867 000.00 | 14 153 834.18 | 0.78 |
| USD	ENI SPA-144A 4.00000% 18-12.09.23 | 6 500 000.00 | 6 401 075.98 | 0.35 |
| USD	EQT CORP 3.90000% 17-01.10.27 | 6 000 000.00 | 5 554 269.96 | 0.31 |
| USD	EQUINIX INC 2.15000% 20-15.07.30 | 5 000 000.00 | 4 005 538.40 | 0.22 |
| USD	EQUINOR ASA 2.87500% 20-06.04.25 | 17 000 000.00 | 16 349 617.23 | 0.90 |
| USD	EVERSOURCE ENERGY 3.37500% 22-01.03.32 | 7 000 000.00 | 6 132 552.23 | 0.34 |
| USD	FISERV INC 3.20000% 19-01.07.26 | 15 000 000.00 | 14 120 445.60 | 0.78 |
| USD	FORD MOTOR CREDIT CO 3.37500% 20-13.11.25 | 5 800 000.00 | 5 351 254.00 | 0.30 |
| USD	GENERAL MOTORS CO 4.20000% 17-01.10.27 | 2 500 000.00 | 2 379 381.65 | 0.13 |
| USD	GENERAL MOTORS FINANCIAL CO INC 4.00000% 16-06.10.26 | 1 750 000.00 | 1 647 582.76 | 0.09 |
| USD	GENERAL MOTORS FINANCIAL CO INC 3.50000% 17-07.11.24 | 8 217 000.00 | 7 930 701.64 | 0.44 |
| USD	GENERAL MOTORS FINANCIAL CO INC 2.90000% 20-26.02.25 | 15 000 000.00 | 14 173 277.10 | 0.78 |
| USD	GEORGIA POWER CO 2.65000% 19-15.09.29 | 10 000 000.00 | 8 589 242.70 | 0.47 |
| USD	GILEAD SCIENCES INC 1.65000% 20-01.10.30 | 5 000 000.00 | 4 016 876.65 | 0.22 |
| USD	GOLDMAN SACHS GROUP INC-SUB 4.25000% 15-21.10.25 | 5 000 000.00 | 4 902 374.10 | 0.27 |
| USD	GOLDMAN SACHS GROUP INC 3.80000% 20-15.03.30 | 2 500 000.00 | 2 272 269.05 | 0.13 |
| USD	HCA INC 4.12500% 19-15.06.29 | 8 000 000.00 | 7 310 875.52 | 0.40 |
| USD	HCA INC 5.00000% 14-15.03.24 | 6 750 000.00 | 6 722 838.81 | 0.37 |
| USD	HEALTHPEAK PROPERTIES 2.12500% 21-01.12.28 | 5 000 000.00 | 4 213 836.40 | 0.23 |
| USD	HOME DEPOT INC 2.70000% 20-15.04.30 | 5 000 000.00 | 4 424 729.60 | 0.24 |

UBS (Lux) Bond SICAV – USD Investment Grade Corporates (USD)
Rapport semestriel au 30 novembre 2022
|  | Dénomination | Nombre/ | Evaluation en USD | en % |
| --- | --- | --- | --- | --- |
|  | Nominal | Bénéfice/(perte) non | de |
|  |  | réalisé(e) sur futures/ | l’actif |
|  |  | Contrats de | net |
|  |  | change à terme/ |  |
|  |  | Swaps (note 1) |  |
|  |  |  |  |  |
| USD | HOME DEPOT INC 2.87500% 22-15.04.27 | 3 000 000.00 | 2 814 860.19 | 0.16 |
| USD | HOME DEPOT INC/THE 1.50000% 21-15.09.28 | 7 500 000.00 | 6 429 033.60 | 0.36 |
| USD | HOME DEPOT INC/THE 2.95000% 19-15.06.29 | 5 000 000.00 | 4 562 119.30 | 0.25 |
| USD | HSBC HOLDINGS PLC 4.30000% 16-08.03.26 | 5 441 000.00 | 5 295 586.83 | 0.29 |
| USD | HSBC HOLDINGS PLC-SUB 4.37500% 16-23.11.26 | 1 750 000.00 | 1 679 199.51 | 0.09 |
| USD | INTEL CORP 4.15000% 22-05.08.32 | 4 500 000.00 | 4 245 691.00 | 0.23 |
| USD | INTERCONTINENTAL EXCHANGE INC 2.10000% 20-15.06.30 | 4 000 000.00 | 3 305 696.40 | 0.18 |
| USD | INTERNATIONAL BUSINESS MACHINES CORP 3.45000% 16-19.02.26 | 7 500 000.00 | 7 214 514.68 | 0.40 |
| USD | JOHNSON CONTROLS INTERNATIONAL PLC 2.00000% 21-16.09.31 | 6 000 000.00 | 4 738 976.34 | 0.26 |
| USD | JPMORGAN CHASE & CO-SUB 3.62500% 16-01.12.27 | 12 500 000.00 | 11 736 910.62 | 0.65 |
| USD | KINROSS GOLD CORP 5.95000% 14-15.03.24 | 2 250 000.00 | 2 258 141.60 | 0.12 |
| USD | KROGER CO/THE 1.70000% 21-15.01.31 | 7 000 000.00 | 5 436 251.31 | 0.30 |
| USD | LLOYDS BANKING GROUP PLC-SUB 4.58200% 16-10.12.25 | 4 000 000.00 | 3 801 544.24 | 0.21 |
| USD | LLOYDS BANKING GROUP PLC-SUB 4.50000% 14-04.11.24 | 2 293 000.00 | 2 237 257.17 | 0.12 |
| USD | LOWE’S COS INC 1.70000% 21-15.09.28 | 8 000 000.00 | 6 805 632.96 | 0.38 |
| USD | LSEGA FINANCING PLC-144A 1.37500% 21-06.04.26 | 5 000 000.00 | 4 431 064.95 | 0.25 |
| USD | LSEGA FINANCING PLC-144A 2.50000% 21-06.04.31 | 4 867 000.00 | 4 095 501.80 | 0.23 |
| USD | MARSH & MCLENNAN COS INC 5.70000% 22-01.11.32 | 9 000 000.00 | 9 557 275.14 | 0.53 |
| USD | MASTERCARD INC 3.35000% 20-26.03.30 | 2 445 000.00 | 2 278 230.61 | 0.13 |
| USD | MERCEDES-BENZ FINANCE NORTH AMERIC-144A 5.25000% 22-29.11.27 | 10 000 000.00 | 10 102 050.70 | 0.56 |
| USD | MERCK & CO INC 1.70000% 21-10.06.27 | 2 000 000.00 | 1 790 828.78 | 0.10 |
| USD | MICROSOFT CORP 3.30000% 17-06.02.27 | 5 000 000.00 | 4 836 175.65 | 0.27 |
| USD | MITSUBISHI UFJ FINANCIAL GRP INC 2.19300% 20-25.02.25 | 12 000 000.00 | 11 209 230.00 | 0.62 |
| USD | MITSUBISHI UFJ FINANCIAL GROUP INC 1.41200% 20-17.07.25 | 5 851 000.00 | 5 289 131.98 | 0.29 |
| USD | MIZUHO BANK LTD-144A 3.60000% 14-25.09.24 | 2 333 000.00 | 2 255 671.32 | 0.12 |
| USD | MORGAN STANLEY-SUB 5.00000% 13-24.11.25 | 5 000 000.00 | 5 011 679.00 | 0.28 |
| USD | NATWEST GROUP PLC 4.80000% 16-05.04.26 | 10 000 000.00 | 9 746 104.80 | 0.54 |
| USD | NATWEST MARKETS PLC-144A 0.80000% 21-12.08.24 | 9 000 000.00 | 8 304 815.43 | 0.46 |
| USD | NEXTERA ENERGY CAP 2.44000% 21-15.01.32 | 12 000 000.00 | 9 774 057.48 | 0.54 |
| USD | NIKE INC 2.75000% 20-27.03.27 | 8 764 000.00 | 8 236 739.27 | 0.46 |
| USD | NUTRIEN LTD 5.95000% 22-07.11.25 | 1 500 000.00 | 1 531 139.71 | 0.08 |
| USD | NVIDIA CORP 2.85000% 20-01.04.30 | 2 560 000.00 | 2 258 261.99 | 0.12 |
| USD | ONEOK INC 6.10000% 22-15.11.32 | 5 500 000.00 | 5 600 128.00 | 0.31 |
| USD | ORACLE CORP 2.80000% 20-01.04.27 | 14 000 000.00 | 12 775 187.88 | 0.71 |
| USD | ORACLE CORP 6.25000% 22-09.11.32 | 10 000 000.00 | 10 551 607.61 | 0.58 |
| USD | PAYPAL HOLDINGS INC 2.30000% 20-01.06.30 | 10 825 000.00 | 8 956 658.48 | 0.49 |
| USD | PEPSICO INC 1.62500% 20-01.05.30 | 6 232 000.00 | 5 150 019.85 | 0.28 |
| USD | PEPSICO INC 1.95000% 21-21.10.31 | 6 500 000.00 | 5 336 061.51 | 0.30 |
| USD | PFIZER INC 2.62500% 20-01.04.30 | 6 390 000.00 | 5 668 248.09 | 0.31 |
| USD | PLAINS ALL AMERICAN PIPELINE LP 4.65000%15-15.10.25 | 2 525 000.00 | 2 486 085.81 | 0.14 |
| USD | PUBLIC STORAGE 1.95000% 21-09.11.28 | 3 000 000.00 | 2 581 200.54 | 0.14 |
| USD | PUBLIC STORAGE 3.09400% 17-15.09.27 | 5 000 000.00 | 4 679 676.75 | 0.26 |
| USD | PUBLIC STORAGE 3.38500% 19-01.05.29 | 3 000 000.00 | 2 752 600.98 | 0.15 |
| USD | QUALCOMM INC 3.25000% 17-20.05.27 | 4 250 000.00 | 4 059 516.61 | 0.22 |
| USD | QUANTA SERVICES INC 2.90000% 20-01.10.30 | 10 500 000.00 | 8 727 826.06 | 0.48 |
| USD | QUANTA SERVICES INC 0.95000% 21-01.10.24 | 3 000 000.00 | 2 747 305.83 | 0.15 |
| USD | SABINE PASS LIQUEFACTION LLC 5.75000% 14-15.05.24 | 5 000 000.00 | 5 007 992.60 | 0.28 |
| USD | SABINE PASS LIQUEFACTION LLC 5.00000% 17-15.03.27 | 4 850 000.00 | 4 787 378.94 | 0.26 |
| USD | SALESFORCE.COM INC 1.50000% 21-15.07.28 | 7 000 000.00 | 6 035 723.68 | 0.33 |
| USD | SEMPRA ENERGY 3.25000% 17-15.06.27 | 3 188 000.00 | 2 960 179.62 | 0.16 |
| USD | STEEL DYNAMICS INC 5.00000% 17-15.12.26 | 3 500 000.00 | 3 448 889.19 | 0.19 |
| USD | SUMITOMO MITSUI FIN GP INC 2.44800% 19-27.09.24 | 4 000 000.00 | 3 790 420.00 | 0.21 |
| USD | SWEDBANK AB-144A 1.53800% 21-16.11.26 | 10 500 000.00 | 9 180 267.39 | 0.51 |
| USD | SYNGENTA FINANCE NV-144A 4.44100% 18-24.04.23 | 7 000 000.00 | 6 951 354.13 | 0.38 |
| USD | T-MOBILE USA INC 3.37500% 21-15.04.29 | 10 000 000.00 | 8 835 709.00 | 0.49 |
| USD | T-MOBILE USA INC 3.50000% 21-15.04.31 | 5 000 000.00 | 4 353 903.50 | 0.24 |
| USD | TEXAS INSTRUMENTS INC 1.12500% 21-15.09.26 | 2 500 000.00 | 2 219 339.45 | 0.12 |
| USD | TEXAS INSTRUMENTS INC 1.90000% 21-15.09.31 | 3 000 000.00 | 2 450 074.14 | 0.14 |
| USD | THERMO FISHER SCIENTIFIC INC 2.00000% 21-15.10.31 | 4 500 000.00 | 3 691 769.49 | 0.20 |
| USD | THERMO FISHER SCIENTIFIC INC 1.21500% 21-18.10.24 | 10 000 000.00 | 9 356 864.20 | 0.52 |
| USD | TRUIST BANK-SUB 3.30000% 16-15.05.26 | 27 494 000.00 | 25 774 875.24 | 1.42 |
| USD | UNION PACIFIC CORP 3.70000% 19-01.03.29 | 5 000 000.00 | 4 771 967.65 | 0.26 |
| USD | UNITED RENTALS NORTH AMERICA INC 3.87500% 19-15.11.27 | 11 000 000.00 | 10 081 830.00 | 0.56 |
| USD | UNITEDHEALTH GROUP INC 2.00000% 20-15.05.30 | 11 210 000.00 | 9 329 160.41 | 0.52 |
| USD | VERIZON COMMUNICATIONS INC 4.32900% 18-21.09.28 | 15 116 000.00 | 14 695 465.93 | 0.81 |
| USD | VICI PROPERTIES LP 5.12500% 22-15.05.32 | 4 500 000.00 | 4 221 045.00 | 0.23 |
| USD | VISA INC 1.10000% 20-15.02.31 | 9 000 000.00 | 7 056 236.16 | 0.39 |
| USD | VMWARE INC 3.90000% 17-21.08.27 | 5 000 000.00 | 4 704 964.55 | 0.26 |
| USD | WALT DISNEY CO 2.00000% 19-01.09.29 | 11 000 000.00 | 9 312 391.00 | 0.51 |
| USD | WESTPAC BANKING CORP 2.70000% 16-19.08.26 | 8 661 000.00 | 8 046 477.79 | 0.44 |
| Total USD |  |  | 965 635 453.74 | 53.33 |
| Total des Billets, taux fixe |  | 965 635 453.74 | 53.33 |
| Billets, taux variable |  |  |  |
| USD |  |  |  |
| USD	BANK OF AMERICA CORP 3.366%/VAR 18-23.01.26 | 4 000 000.00 | 3 825 390.12 | 0.21 |
| USD	BANK OF AMERICA CORP 3.419%/VAR 18-20.12.28 | 10 000 000.00 | 9 118 532.10 | 0.50 |
| USD	BANK OF AMERICA CORP 4.271%/VAR 18-23.07.29 | 6 000 000.00 | 5 648 046.60 | 0.31 |
| USD	BANK OF AMERICA CORP 2.572%/VAR 21-20.10.32 | 11 000 000.00 | 8 758 766.94 | 0.48 |
| USD	BARCLAYS PLC 1.007%/VAR 20-10.12.24 | 5 959 000.00 | 5 635 060.54 | 0.31 |
| USD	BK OF AMERICA CORP 3.004%/VAR 18-20.12.23 | 15 954 000.00 | 15 935 313.40 | 0.88 |
| USD	CITIGROUP INC 2.666%/VAR 20-29.01.31 | 5 000 000.00 | 4 150 403.60 | 0.23 |
| USD	CITIGROUP INC 6.270%/VAR 22-17.11.33 | 5 000 000.00 | 5 269 459.25 | 0.29 |
| USD	GOLDMAN SACHS GROUP INC 3.691%/VAR 17-05.06.28 | 6 500 000.00 | 6 079 036.01 | 0.34 |
| USD	GOLDMAN SACHS GROUP INC 3.272%/VAR 17-29.09.25 | 5 000 000.00 | 4 813 599.90 | 0.27 |
| USD	HSBC HOLDINGS PLC 0.976%/VAR 21-24.05.25 | 7 500 000.00 | 6 899 217.98 | 0.38 |
| USD	HSBC HOLDINGS PLC 2.206%/VAR 21-17.08.29 | 7 500 000.00 | 6 061 059.83 | 0.34 |
| USD	HSBC HOLDINGS PLC 3.803%/VAR 19-11.03.25 | 6 000 000.00 | 5 810 936.58 | 0.32 |
| USD	JPMORGAN CHASE & CO 3.702%/VAR 19-06.05.30 | 5 000 000.00 | 4 543 541.60 | 0.25 |
| USD	JPMORGAN CHASE & CO 2.301%/VAR 19-15.10.25 | 14 267 000.00 | 13 464 276.23 | 0.74 |
| USD	JPMORGAN CHASE & CO 2.182%/VAR 20-01.06.28 | 14 000 000.00 | 12 247 147.78 | 0.68 |
| USD	JPMORGAN CHASE & CO 1.040%/VAR 21-04.02.27 | 13 000 000.00 | 11 329 230.51 | 0.63 |
| USD	JPMORGAN CHASE & CO 2.545%/VAR 21-08.11.32 | 12 000 000.00 | 9 604 159.08 | 0.53 |

UBS (Lux) Bond SICAV – USD Investment Grade Corporates (USD) Rapport semestriel au 30 novembre 2022
|  | Dénomination | Nombre/ | Evaluation en USD | en % |
| --- | --- | --- | --- | --- |
|  | Nominal | Bénéfice/(perte) non | de |
|  |  | réalisé(e) sur futures/ | l’actif |
|  |  | Contrats de | net |
|  |  | change à terme/ |  |
|  |  | Swaps (note 1) |  |
|  |  |  |  |  |
| USD | MIZUHO FINANCIAL GROUP INC 2.839%/3M LIBOR+98BP 19-16.07.25 | 6 000 000.00 | 5 701 972.80 | 0.32 |
| USD | VODAFONE GROUP PLC-SUB 3.250%/VAR 21-04.06.81 | 4 000 000.00 | 3 319 200.00 | 0.18 |
| USD | WESTPAC BANKING CORP-SUB 2.668%/VAR 20-15.11.35 | 5 000 000.00 | 3 670 025.50 | 0.20 |
| USD | WESTPAC BANKING CORP-SUB 3.020%/VAR 21-18.11.36 | 7 000 000.00 | 5 114 886.00 | 0.28 |
| Total USD |  |  | 156 999 262.35 | 8.67 |
| Total des Billets, taux variable |  | 156 999 262.35 | 8.67 |
| Medium-Term Notes, taux fixe |  |  |  |
| USD |  |  |  |
| USD	BANK OF AMERICA CORP-SUB 4.20000% 14-26.08.24 | 5 500 000.00 | 5 422 929.10 | 0.30 |
| USD	BANK OF AMERICA CORP-SUB 4.25000% 14-22.10.26 | 14 500 000.00 | 14 197 701.54 | 0.78 |
| USD	BANK OF AMERICA CORP-SUB 4.45000% 16-03.03.26 | 14 500 000.00 | 14 261 557.65 | 0.79 |
| USD	BANK OF AMERICA CORP 3.24800% 16-21.10.27 | 10 000 000.00 | 9 218 422.30 | 0.51 |
| USD	BANK OF MONTREAL 1.25000% 21-15.09.26 | 18 000 000.00 | 15 788 082.06 | 0.87 |
| USD	JOHN DEERE CAPITAL CORP 1.50000% 21-06.03.28 | 6 000 000.00 | 5 180 692.08 | 0.29 |
| USD	JOHN DEERE CAPITAL CORP 2.00000% 21-17.06.31 | 6 000 000.00 | 4 897 290.18 | 0.27 |
| USD	JOHN DEERE CAPITAL CORP 1.30000% 21-13.10.26 | 5 000 000.00 | 4 445 632.50 | 0.24 |
| USD	JOHN DEERE CAPITAL CORP 1.70000% 22-11.01.27 | 6 000 000.00 | 5 376 326.82 | 0.30 |
| USD	MORGAN STANLEY-SUB 3.95000% 15-23.04.27 | 25 000 000.00 | 24 093 142.25 | 1.33 |
| USD	ROYAL BANK OF CANADA 2.30000% 21-03.11.31 | 8 800 000.00 | 7 091 214.68 | 0.39 |
| USD	SUMITOMO MITSUI FIN GP INC 3.01000% 16-19.10.26 | 12 000 000.00 | 11 043 614.40 | 0.61 |
| USD	TORONTO-DOMINION BANK/THE 4.45600% 22-08.06.32 | 10 000 000.00 | 9 565 615.40 | 0.53 |
| USD	UNILEVER CAPITAL CORP 5.90000% 02-15.11.32 | 4 500 000.00 | 4 914 092.16 | 0.27 |
| Total USD |  | 135 496 313.12 | 7.48 |
| Total des Medium-Term Notes, taux fixe |  | 135 496 313.12 | 7.48 |
| Medium-Term Notes, taux variable |  |  |  |
| USD |  |  |  |
| USD	BANK OF AMERICA CORP 3.970%/3M LIBOR+107BP 18-05.03.29 | 3 399 000.00 | 3 157 311.53 | 0.18 |
| USD	BANK OF AMERICA CORP 2.884%/VAR 19-22.10.30 | 4 000 000.00 | 3 413 459.48 | 0.19 |
| USD	BANK OF AMERICA CORP 2.015%/3M LIBOR+64BP 20-13.02.26 | 5 500 000.00 | 5 096 789.28 | 0.28 |
| USD	BANK OF AMERICA CORP 2.496%/3M LIBOR+99BP 20-13.02.31 | 3 000 000.00 | 2 468 106.90 | 0.14 |
| USD	MORGAN STANLEY 0.864%/VAR 20-21.10.25 | 10 000 000.00 | 9 125 894.50 | 0.50 |
| USD	MORGAN STANLEY 1.794%/VAR 20-13.02.32 | 10 000 000.00 | 7 610 396.10 | 0.42 |
| USD	MORGAN STANLEY 4.889%/VAR 22-20.07.33 | 4 000 000.00 | 3 815 593.88 | 0.21 |
| Total USD |  | 34 687 551.67 | 1.92 |
| Total des Medium-Term Notes, taux variable |  | 34 687 551.67 | 1.92 |
| Obligations, taux fixe |  |  |  |
| USD |  |  |  |
| USD	COMCAST CORP 3.15000% 17-15.02.28 | 7 000 000.00 | 6 515 791.24 | 0.36 |
| USD	DUKE ENERGY CAROLINAS LLC 2.45000% 20-01.02.30 | 11 500 000.00 | 9 825 094.11 | 0.54 |
| USD	GOLDMAN SACHS GROUP INC/THE 3.85000% 17-26.01.27 | 7 962 000.00 | 7 650 682.53 | 0.42 |
| USD	JP MORGAN CHASE & CO-SUB 4.25000% 15-01.10.27 | 10 000 000.00 | 9 749 766.40 | 0.54 |
| USD	NATIONAL RURAL UTILITIES COOP FIN CORP 3.90000% 18-01.11.28 | 10 000 000.00 | 9 466 665.80 | 0.52 |
| USD	NSTAR ELECTRIC COMPANY 3.20000% 17-15.05.27 | 3 500 000.00 | 3 299 344.93 | 0.18 |
| USD	SAN DIEGO GAS & ELECTRIC CO 3.00000% 22-15.03.32 | 3 000 000.00 | 2 586 904.71 | 0.14 |
| USD	SOUTHERN CALIFORNIA EDISON CO 3.70000% 18-01.08.25 | 7 000 000.00 | 6 805 096.20 | 0.38 |
| USD	SOUTHERN CALIFORNIA EDISON CO 2.85000% 19-01.08.29 | 3 000 000.00 | 2 623 799.31 | 0.15 |
| Total USD |  | 58 523 145.23 | 3.23 |
| Total des Obligations, taux fixe |  | 58 523 145.23 | 3.23 |
| Obligations, taux variable |  |  |  |
| USD |  |  |  |
| USD	BP CAPITAL MARKETS PLC-SUB 4.375%/VAR 20-PRP | 8 500 000.00 | 8 085 625.00 | 0.45 |
| USD	GOLDMAN SACHS GROUP INC 4.223%/VAR 18-01.05.29 | 10 000 000.00 | 9 394 604.90 | 0.52 |
| Total USD |  | 17 480 229.90 | 0.97 |
| Total des Obligations, taux variable |  | 17 480 229.90 | 0.97 |
| Bons du Trésor à moyen terme, taux fixe |  |  |  |
| USD |  |  |  |
| USD	AMERICA, UNITED STATES OF 2.75000% 22-15.08.32 | 33 000 000.00 | 30 566 250.00 | 1.68 |
| Total USD |  | 30 566 250.00 | 1.68 |
| Total des Bons du Trésor à moyen terme, taux fixe |  | 30 566 250.00 | 1.68 |
| Total des Titres et instruments du marché monétaire négociés sur une bourse officielle |  | 1 399 388 206.01 | 77.28 |
| Titres et instruments du marché monétaire négociés sur un autre marché réglementé |  |  |  |
| Billets, taux fixe |  |  |  |
| USD |  |  |  |
| USD	AKER BP ASA-144A 3.75000% 20-15.01.30 | 4 000 000.00 | 3 544 943.56 | 0.20 |
| USD	ANTHEM INC 5.35000% 22-15.10.25 | 3 000 000.00 | 3 042 086.82 | 0.17 |
| USD	ANTHEM INC 5.50000% 22-15.10.32 | 4 850 000.00 | 5 006 414.29 | 0.28 |
| USD	AUSTRALIA & NEW ZEALAND BANK-144A-SUB 2.57000% 20-25.11.35 | 8 000 000.00 | 5 834 853.04 | 0.32 |
| USD	AVOLON HOLDINGS FUNDING LTD-144A 2.12500% 21-21.02.26 | 9 000 000.00 | 7 669 440.00 | 0.42 |
| USD	AVOLON HOLDINGS FUNDING LTD-144A 2.75000% 21-21.02.28 | 500 000.00 | 401 050.00 | 0.02 |
| USD	BACARDI LTD-144A 4.45000% 18-15.05.25 | 11 000 000.00 | 10 679 240.00 | 0.59 |
| USD	BAXTER INTERNATIONAL INC 1.32200% 22-29.11.24 | 16 000 000.00 | 14 881 242.72 | 0.82 |
| USD	BAXTER INTERNATIONAL INC 1.91500% 22-01.02.27 | 6 000 000.00 | 5 346 833.46 | 0.30 |
| USD	BROADCOM INC 4.11000% 20-15.09.28 | 5 311 000.00 | 4 962 470.03 | 0.28 |

UBS (Lux) Bond SICAV – USD Investment Grade Corporates (USD)
Rapport semestriel au 30 novembre 2022
|  | Dénomination | Nombre/ | Evaluation en USD | en % |
| --- | --- | --- | --- | --- |
|  | Nominal | Bénéfice/(perte) non | de |
|  |  | réalisé(e) sur futures/ | l’actif |
|  |  | Contrats de | net |
|  |  | change à terme/ |  |
|  |  | Swaps (note 1) |  |
|  |  |  |  |  |
| USD | CHENIERE CORPUS CHRISTI HLDGS LLC 5.12500% 17-30.06.27 | 3 500 000.00 | 3 504 736.66 | 0.19 |
| USD | CHEVRON PHILLIPS CHEMICAL CO LLC-144A 3.70000% 18-01.06.28 | 7 000 000.00 | 6 586 283.69 | 0.36 |
| USD | CSL FINANCE PLC-144A 4.25000% 22-27.04.32 | 8 250 000.00 | 7 803 640.34 | 0.43 |
| USD | DAIMLER FINANCE NORTH AMERICA LLC-144A 2.70000% 19-14.06.24 | 5 000 000.00 | 4 818 928.95 | 0.27 |
| USD | DELTA AIR LINES INC-144A 7.00000% 20-01.05.25 | 11 250 000.00 | 11 463 613.43 | 0.63 |
| USD | ENEL FINANCE INTERNATIONAL SA-144A 2.65000% 19-10.09.24 | 8 000 000.00 | 7 645 127.04 | 0.42 |
| USD | EXELON CORP-144A 2.75000% 22-15.03.27 | 2 000 000.00 | 1 843 476.18 | 0.10 |
| USD | FIVE CORNERS FUNDING TRUST II -144A 2.85000% 20-15.05.30 | 10 000 000.00 | 8 484 280.80 | 0.47 |
| USD | GLP CAPITAL LP / GLP FINANC II INC 4.00000% 19-15.01.30 | 5 000 000.00 | 4 337 650.00 | 0.24 |
| USD | HCA INC-144A 3.12500% 22-15.03.27 | 3 000 000.00 | 2 728 841.28 | 0.15 |
| USD | HONEYWELL INTERNATIONAL INC 4.95000% 22-15.02.28 | 4 000 000.00 | 4 080 731.00 | 0.23 |
| USD | HONEYWELL INTERNATIONAL INC 5.00000% 22-15.02.33 | 7 000 000.00 | 7 204 587.88 | 0.40 |
| USD | INFOR INC-144A 1.45000% 20-15.07.23 | 3 000 000.00 | 2 912 704.95 | 0.16 |
| USD | KINDER MORGAN INC-144A 5.62500% 13-15.11.23 | 3 225 000.00 | 3 224 185.01 | 0.18 |
| USD | LUNDIN ENERGY FINANCE BV-144A 2.00000% 21-15.07.26 | 5 000 000.00 | 4 402 029.75 | 0.24 |
| USD | LUNDIN ENERGY FINANCE BV-144A 3.10000% 21-15.07.31 | 3 500 000.00 | 2 884 161.07 | 0.16 |
| USD | MACQUARIE BANK LTD-144A-SUB 3.62400% 20-03.06.30 | 3 660 000.00 | 2 955 363.26 | 0.16 |
| USD | NESTLE HOLDINGS INC-144A 0.62500% 20-15.01.26 | 12 500 000.00 | 11 078 397.00 | 0.61 |
| USD | NESTLE HOLDINGS INC-144A 1.50000% 21-14.09.28 | 13 500 000.00 | 11 472 948.81 | 0.63 |
| USD | NXP BV / NXP FUNDING LLC 4.87500% 22-01.03.24 | 2 000 000.00 | 1 977 250.00 | 0.11 |
| USD | NXP BV / NXP FUNDING LLC 5.55000% 22-01.12.28 | 12 000 000.00 | 11 943 750.00 | 0.66 |
| USD | ONCOR ELECTRIC DELIVERY CO LLC-144A 4.55000% 22-15.09.32 | 2 000 000.00 | 1 969 498.54 | 0.11 |
| USD | PARKER-HANNIFIN CORP 4.25000% 22-15.09.27 | 3 600 000.00 | 3 491 374.21 | 0.19 |
| USD | PENSKE TRUCK LEASING/PTL FIN CORP-144A 1.20000% 20-15.11.25 | 5 000 000.00 | 4 397 421.60 | 0.24 |
| USD | ROCHE HOLDINGS INC-144A 2.07600% 21-13.12.31 | 11 000 000.00 | 9 084 239.34 | 0.50 |
| USD | SANTOS FINANCE LTD-144A 3.64900% 21-29.04.31 | 3 500 000.00 | 2 796 870.30 | 0.16 |
| USD | SCENTRE GROUP TRUST 1 / 2-144A 3.25000% 15-28.10.25 | 11 995 000.00 | 11 198 631.56 | 0.62 |
| USD | SIEMENS FINANCIERINGSMAATSCH NV-144A 2.15000% 21-11.03.31 | 7 500 000.00 | 6 163 502.02 | 0.34 |
| USD | SOCIETE GENERALE-144A 2.62500% 19-16.10.24 | 10 000 000.00 | 9 419 824.90 | 0.52 |
| USD | TECK RESOURCES LTD 3.90000% 20-15.07.30 | 6 000 000.00 | 5 394 136.50 | 0.30 |
| USD | TRITON CONTAINER INTERNATIONAL LTD-144A 1.15000% 21-07.06.24 | 3 000 000.00 | 2 764 312.50 | 0.15 |
| USD | UNITED AIRLINES INC-144A 4.37500% 21-15.04.26 | 9 000 000.00 | 8 379 226.80 | 0.46 |
| USD | UNITEDHEALTH GROUP INC 5.25000% 22-15.02.28 | 4 000 000.00 | 4 114 592.84 | 0.23 |
| Total USD |  |  | 253 894 892.13 | 14.02 |
| Total des Billets, taux fixe |  | 253 894 892.13 | 14.02 |
| Billets, taux variable |  |  |  |
| USD |  |  |  |
| USD	BNP PARIBAS-144A 3.052%/VAR 20-13.01.31 | 3 650 000.00 | 3 026 425.57 | 0.17 |
| USD	DNB BANK ASA-144A 0.856%/VAR 21-30.09.25 | 5 000 000.00 | 4 588 635.55 | 0.25 |
| USD	ING GROEP NV 3.869%/VAR 22-28.03.26 | 2 800 000.00 | 2 689 744.71 | 0.15 |
| Total USD |  | 10 304 805.83 | 0.57 |
| Total des Billets, taux variable |  | 10 304 805.83 | 0.57 |
| Medium-Term Notes, taux fixe |  |  |  |
| USD |  |  |  |
| USD	NATIONAL AUSTRALIA BANK LTD-144A-SUB 2.33200% 20-21.08.30 | 14 605 000.00 | 11 091 031.15 | 0.61 |
| USD	NBN CO LTD-144A 0.87500% 21-08.10.24 | 17 000 000.00 | 15 623 571.20 | 0.86 |
| USD	SOCIETE GENERALE SA-144A 2.62500% 20-22.01.25 | 8 000 000.00 | 7 471 654.56 | 0.42 |
| Total USD |  | 34 186 256.91 | 1.89 |
| Total des Medium-Term Notes, taux fixe |  | 34 186 256.91 | 1.89 |
| Medium-Term Notes, taux variable |  |  |  |
| USD |  |  |  |
| USD	AUSTRALIA & NEWZEALAND BKG-144A-SUB 2.950%/VAR 20-22.07.30 | 2 650 000.00 | 2 360 619.20 | 0.13 |
| USD	COMMONWEALTH BANK AUSRALIA-144A-SUB 3.610%/VAR 19-12.09.34 | 9 570 000.00 | 7 819 111.08 | 0.43 |
| USD	COOPERATIEVE RABOBANK UA-144A 1.339%/VAR 20-24.06.26 | 10 200 000.00 | 9 130 886.08 | 0.51 |
| Total USD |  | 19 310 616.36 | 1.07 |
| Total des Medium-Term Notes, taux variable |  | 19 310 616.36 | 1.07 |
| Obligations, taux fixe |  |  |  |
| USD |  |  |  |
| USD	MICROCHIP TECHNOLOGY INC 0.98300% 21-01.09.24 | 5 000 000.00 | 4 623 014.60 | 0.25 |
| USD	NGPL PIPECO LLC-144A 4.87500% 17-15.08.27 | 9 500 000.00 | 9 039 753.02 | 0.50 |
| USD	SYDNEY AIRPORT FINANCE CO PTY LTD-144A 3.62500% 16-28.04.26 | 5 500 000.00 | 5 126 501.05 | 0.28 |
| Total USD |  | 18 789 268.67 | 1.03 |
| Total des Obligations, taux fixe |  | 18 789 268.67 | 1.03 |
| Total des Titres et instruments du marché monétaire négociés sur un autre marché réglementé |  | 336 485 839.90 | 18.58 |
| Nouvelles émissions de titres et instruments du marché monétaire Billets, taux fixe |  |  |  |
| USD |  |  |  |
| USD	ALCON FINANCE CORP-144A 5.37500% 22-06.12.32 | 7 000 000.00 | 7 050 941.87 | 0.39 |
| USD	MAGALLANES INC-144A 3.75500% 22-15.03.27 | 10 000 000.00 | 9 112 828.20 | 0.50 |
| USD	MAGALLANES INC-144A 4.27900% 22-15.03.32 | 10 000 000.00 | 8 489 991.50 | 0.47 |
| Total USD |  | 24 653 761.57 | 1.36 |
| Total des Billets, taux fixe |  | 24 653 761.57 | 1.36 |
| Total des Nouvelles émissions de titres et instruments du marché monétaire |  | 24 653 761.57 | 1.36 |

UBS (Lux) Bond SICAV – USD Investment Grade Corporates (USD) Rapport semestriel au 30 novembre 2022
| Dénomination	Nombre/ | Evaluation en USD | en % |
| --- | --- | --- |
| Nominal | Bénéfice/(perte) non | de |
|  | réalisé(e) sur futures/ | l’actif |
|  | Contrats de | net |
|  | change à terme/ |  |
|  | Swaps (note 1) |  |

OPCVM/Autres OPC au sens de l’article 41 (1) e) de la loi luxembourgeoise du 17 décembre 2010, telle que modifiée
Fonds d’investissement, ouvert
Luxembourg
| USD | UBS(LUX)BOND SICAV-GLBL SDG CORPORATES SUSTNBLE(USD) U-X-ACC | 410.00 | 4 163 119.50 | 0.23 |
| --- | --- | --- | --- | --- |
| Total Luxembourg | 4 163 119.50 | 0.23 |
| Total des Fonds d’investissement, ouvert | 4 163 119.50 | 0.23 |
| Total des OPCVM/Autres OPC au sens de l’article 41 (1) e) de la loi luxembourgeoise du 17 décembre 2010, telle que modifiée | 4 163 119.50 | 0.23 |
| Total du Portefeuille-titres | 1 764 690 926.98 | 97.45 |

| Instruments dérivés |  |
| --- | --- |
| Instruments dérivés négociés sur une bourse officielle |
| Contrats financiers à terme sur obligations |
|  |  |  |  |
| USD	US 10YR TREASURY NOTE FUTURE 22.03.23 | -125.00 | -58 671.88 | 0.00 |
| USD	US 5YR TREASURY NOTE FUTURE 31.03.23 | -193.00 | -123 640.63 | -0.01 |
| Total des Contrats financiers à terme sur obligations |  | -182 312.51 | -0.01 |
| Total des Instruments dérivés négociés sur une bourse officielle |  | -182 312.51 | -0.01 |
| Total des Instruments dérivés |  | -182 312.51 | -0.01 |
| Contrats de change à terme |  |  |  |
| Devise achetée/Montant acheté/Devise vendue/Montant vendu/Date de maturité |  |  |  |

| EUR | 32 038 200.00 | USD | 33 556 025.74 | 12.1.2023 | -448 981.63 | -0.02 |
| --- | --- | --- | --- | --- | --- | --- |
| CHF | 229 534 800.00 | USD | 245 829 616.10 | 12.1.2023 | -3 550 404.73 | -0.20 |
| CHF | 4 036 400.00 | USD | 4 255 324.08 | 12.1.2023 | 5 188.09 | 0.00 |
| USD | 367 687.80 | EUR | 352 000.00 | 12.1.2023 | 3 944.53 | 0.00 |
| Total des Contrats de change à terme | -3 990 253.74 | -0.22 |
|  |  |  |
| Avoirs en banque, dépôts à vue et à terme et autres liquidités | 38 950 272.50 | 2.15 |
| Crédit en compte courant et autres engagements à court terme | -9.33 | 0.00 |
| Autres actifs et passifs | 11 368 669.07 | 0.63 |
| Total de l’Actif net | 1 810 837 292.97 | 100.00 |

UBS (Lux) Bond SICAV – USD Investment Grade Corporates (USD)
Rapport semestriel au 30 novembre 2022