# Geographical classification
### (by domicile of the issuer) (in percentage of net assets)
| United States of America | 47.74 % |
| --- | --- |
| Canada | 5.44 % |
| United Kingdom | 3.54 % |
| Norway | 3.41 % |
| Japan | 3.30 % |
| South Korea | 3.27 % |
| Singapore | 3.01 % |
| Germany | 2.27 % |
| Mexico | 1.98 % |
| United Arab Emirates | 1.93 % |
| Ireland | 1.86 % |
| Israel | 1.62 % |
| Greece | 1.36 % |
| Switzerland | 1.28 % |
| Serbia Republic | 1.23 % |
| Chile | 1.07 % |
| Bolivia | 1.06 % |
| Thailand | 0.83 % |
| British Virgin Islands | 0.75 % |
| Luxembourg | 0.56 % |
| Turkey | 0.48 % |
| India | 0.45 % |
| France | 0.39 % |
| Uzbekistan | 0.38 % |
| Egypt | 0.35 % |
| Australia | 0.33 % |
| Italy | 0.30 % |
| Romania | 0.28 % |
| Austria | 0.22 % |
| Hong Kong | 0.22 % |
| Cayman Islands | 0.19 % |
| Indonesia | 0.17 % |

| Hungary | 0.16 % |
| --- | --- |
| Russia | 0.16 % |
| Sweden | 0.14 % |
| Brazil | 0.11 % |
| Ecuador | 0.11 % |
| Kazakhstan | 0.09 % |
| Ukraine | 0.08 % |
| Sri Lanka | 0.06 % |
| Total | 92.18 % |

| Assets |  |
| --- | --- |
| Securities portfolio at market value | 82,519,669.19 |
| Option contracts at market value | 782,801.93 |
| Deposits on futures contracts | 1,781,711.03 |
| Cash at banks | 691,084.09 |
| Formation expenses, net | 11,179.58 |
| Receivable cash collateral paid | 180,000.00 |
| Income receivable on portfolio | 52,556.72 |
| Unrealised gain on futures contracts | 150,850.13 |
| Other receivables | 51,360.39 |
| Prepaid expenses | 	1,548,633.03  |
| Total assets | 87,769,846.09 |
| Liabilities |  |
| Bank overdrafts | 3.81 |
| Unrealised loss on forward foreign exchange contracts | 164,368.47 |
| Expenses payable | 321,525.47 |
| Other liabilities | 	12,178.64  |
| Total liabilities | 498,076.39 |
| Net assets at the end of the period | 87,271,769.70 |

Breakdown of net assets per share class
| Share class | Number of shares | Currency of share class | NAV per share in currency of share class | Net assets per share class (in EUR) |
| --- | --- | --- | --- | --- |
| XID | 105,299.166 | EUR | 95.12 | 10,015,992.16 |
| XMD | 190,533.328 | EUR | 94.61 | 18,026,436.35 |
| XS1D | 626,052.141 | EUR | 94.61 | 	59,229,341.19  |
|  |  |  |  | 	87,271,769.70  |

| Income |  |
| --- | --- |
| Dividends, net | 331,966.84 |
| Interest on bonds and other debt securities, net | 42,038.12 |
| Bank interest | 	3,293.69  |
| Total income | 377,298.65 |
| Expenses |  |
| Management fees | 556,399.09 |
| Depositary fees | 19,067.81 |
| Banking charges and other fees | 3,353.52 |
| Transaction fees | 46,004.74 |
| Central administration costs | 27,193.22 |
| Professional fees | 3,435.00 |
| Intermediation and platform fees | 4,825.46 |
| Other administration costs | 204,856.75 |
| Subscription duty ("taxe d'abonnement") | 12,578.85 |
| Bank interest paid | 16,755.51 |
| Other expenses | 	2,744.81  |
| Total expenses | 897,214.76 |
| Net investment loss | -519,916.11 |
| Net realised gain/(loss) |  |
| - on securities portfolio | -218,824.78 |
| - on option contracts | -122,863.39 |
| - on futures contracts | 3,360,570.03 |
| - on forward foreign exchange contracts | -1,123,545.83 |
| - on foreign exchange | 	25,865.33  |
| Realised result | 1,401,285.25 |
| Net variation of the unrealised gain/(loss) |  |
| - on securities portfolio | -7,435,333.81 |
| - on option contracts | 744,500.63 |
| - on futures contracts | 117,058.01 |
| - on forward foreign exchange contracts | 	-178,302.46  |
| Result of operations | -5,350,792.38 |
| Dividends paid | -1,424,333.47 |
| Subscriptions | - |
| Redemptions | -3,265,311.55 |
| Total changes in net assets | -10,040,437.40 |
| Total net assets at the beginning of the period | 97,312,207.10 |
| Total net assets at the end of the period | 87,271,769.70 |

| Total net assets | Currency | 31.12.2021 | 30.06.2022 |
| --- | --- | --- | --- |
|  | EUR | 97,312,207.10 | 87,271,769.70 |

| Net asset value per share class | Currency | 31.12.2021 | 30.06.2022 |
| --- | --- | --- | --- |
| XID | EUR | 102.13 | 95.12 |
| XMD | EUR | 101.85 | 94.61 |
| XS1D | EUR | 101.85 | 94.61 |

| Number of shares | outstanding at the beginning of the period | issued | redeemed | outstanding at the end of the period |
| --- | --- | --- | --- | --- |
| XID | 108,293.707 | - | -2,994.541 | 105,299.166 |
| XMD | 204,844.593 | - | -14,311.265 | 190,533.328 |
| XS1D | 642,030.407 | - | -15,978.266 | 626,052.141 |

| Dividends paid | Currency | Dividend per share class | Ex-dividend date |
| --- | --- | --- | --- |
| XID | EUR | 1.53 | 07.06.2022 |
| XMD | EUR | 1.53 | 07.06.2022 |
| XS1D | EUR | 1.53 | 07.06.2022 |

| Currency | Number / nominal value | Description | Cost |  | Market value |  | % of total net assets * |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Investments in securities |
| Transferable securities admitted to an official stock exchange listing |
| Shares |  |  |  |  |  |  |  |
| CHF | 190,000 | Credit Suisse Group AG Partizsch | 1,322,317.14 |  | 1,029,071.21 |  | 1.18 |
| CHF | 1,000 | Geberit AG Reg | 611,792.49 |  | 458,475.31 |  | 0.53 |
| CHF | 390 | SGS SA Reg | 1,005,754.25 |  | 851,546.93 |  | 0.98 |
| CHF | 110,000 | UBS Group Inc | 	1,593,467.36  |  | 	1,691,701.94  |  | 	1.94  |
|  |  |  | 4,533,331.24 |  | 4,030,795.39 |  | 4.63 |
| EUR | 72,000 | E.ON SE Reg | 761,873.44 |  | 576,576.00 |  | 0.66 |
| EUR | 125,000 | ENEL SpA | 743,500.00 |  | 652,500.00 |  | 0.75 |
| EUR | 3,380 | L'Oréal SA | 1,282,612.65 |  | 1,113,034.00 |  | 1.28 |
| EUR | 20,000 | RWE AG A | 745,490.65 |  | 701,600.00 |  | 0.80 |
| EUR | 20,000 | Totalenergies SE | 	956,842.38  |  | 	1,007,400.00  |  | 	1.15  |
|  |  |  | 4,490,319.12 |  | 4,051,110.00 |  | 4.64 |
| GBP | 100,000 | Avast PLC Reg | 568,297.00 |  | 600,357.60 |  | 0.69 |
| GBP | 20,199 | Unilever Plc | 	934,603.04  |  | 	872,788.49  |  | 	1.00  |
|  |  |  | 1,502,900.04 |  | 1,473,146.09 |  | 1.69 |
| USD | 15,000 | Activision Blizzard Inc | 1,081,306.85 |  | 1,116,539.20 |  | 1.28 |
| USD | 9,000 | Advanced Micro Devices Inc | 1,133,401.39 |  | 657,963.67 |  | 0.75 |
| USD | 17,000 | Alibaba Group Holding Ltd ADR | 1,459,989.38 |  | 1,847,571.70 |  | 2.12 |
| USD | 6,000 | Amazon.com Inc | 635,283.32 |  | 609,235.18 |  | 0.70 |
| USD | 13,000 | Colgate-Palmolive Co | 885,749.82 |  | 996,003.82 |  | 1.14 |
| USD | 6,000 | JPMorgan Chase & Co | 746,237.17 |  | 645,946.46 |  | 0.74 |
| USD | 3,000 | Mastercard Inc A | 863,849.97 |  | 904,818.36 |  | 1.04 |
| USD | 3,000 | Microsoft Corp | 861,562.34 |  | 736,606.12 |  | 0.84 |
| USD | 8,580 | Nike Inc B | 971,158.78 |  | 838,313.58 |  | 0.96 |
| USD | 8,000 | NVIDIA Corp | 1,490,402.73 |  | 1,159,388.15 |  | 1.33 |
| USD | 13,000 | State Street Corp | 865,185.60 |  | 766,204.59 |  | 0.88 |
| USD | 22,500 | Tencent Holdings Ltd unspons ADR repr 1 Share | 	944,623.82  |  | 	976,362.33  |  | 	1.12  |
|  |  |  | 11,938,751.17 |  | 11,254,953.16 |  | 12.90 |
| Total shares |  | 22,465,301.57 |  | 20,810,004.64 |  | 23.86 |
| Bonds |  |  |  |  |  |  |  |
| EUR | 1,000,000 | Asian Development Bank 0% Sen 19/24.10.29 | 1,003,990.00 |  | 871,345.00 |  | 1.00 |
| EUR | 1,600,000 | Berlin Hannover Hypobank AG 0.5% EMTN 16/26.09.23 | 1,626,640.00 |  | 1,575,016.00 |  | 1.80 |
| EUR | 1,500,000 | BNP Paribas SA VAR Sen Ser 19195 19/04.06.26 | 1,518,795.00 |  | 1,399,155.00 |  | 1.60 |
| EUR | 1,600,000 | Natl Australia Bank Ltd 0.625% EMTN Ser GMTN Sen 18/30.08.23 | 1,630,784.00 |  | 1,586,952.00 |  | 1.82 |
| EUR | 1,000,000 | Ontario Teachers Fin Trust 0.05% 20/25.11.30 | 981,420.00 |  | 832,340.00 |  | 0.95 |
| EUR | 1,600,000 | Swedbank AB 0.25% EMTN Ser GMTN320 17/07.11.22 | 	1,612,480.00  |  | 	1,600,112.00  |  | 	1.83  |
|  |  |  | 8,374,109.00 |  | 7,864,920.00 |  | 9.00 |
| USD | 1,200,000 | EIB 1.625% 19/09.10.29 | 1,011,505.63 |  | 1,033,170.17 |  | 1.18 |
| USD | 1,200,000 | Hong Kong Special Admi Reg Gov 1.375% EMTN 21/02.02.31 | 965,977.98 |  | 977,386.23 |  | 1.12 |
| USD | 1,200,000 | KFW 1.75% Sen 19/14.09.29 | 	1,021,402.95  |  | 	1,044,946.46  |  | 	1.20  |
|  |  |  | 2,998,886.56 |  | 3,055,502.86 |  | 3.50 |
| Total bonds |  | 11,372,995.56 |  | 10,920,422.86 |  | 12.50 |
| Open-ended investment funds |
| Investment funds (UCITS) |
| EUR | 1,000.837 | Helium Fd Selection S Cap | 1,557,397.45 |  | 1,532,242.41 |  | 1.76 |
| EUR | 35,838.812 | Lazard Gl Inv Fds Plc Rathmore Alternative A Cap | 4,481,844.25 |  | 4,245,135.95 |  | 4.86 |
| EUR | 8,000.516 | Lombard Odier Fds Asia Value Bond N Sytematic Hedged Cap | 1,014,648.64 |  | 843,559.21 |  | 0.97 |
| EUR | 11,000 | Lyxor Newcits IRL II Plc Chenavari Cred Fd I Cap | 1,212,202.20 |  | 1,197,720.70 |  | 1.37 |
| EUR | 22,452.7 | Lyxor Newcits IRL Plc Sandler US Equity Fund I Cap | 2,574,170.62 |  | 2,547,548.45 |  | 2.92 |
| EUR | 22,000 | MontLake UCITS Platform ICAV Crabel Gemini Fd A Cap | 2,337,754.80 |  | 2,338,479.00 |  | 2.68 |

| Currency | Number / nominal value | Description | Cost | Market value | % of total net assets * |
| --- | --- | --- | --- | --- | --- |

| EUR | 20,000 | Palladium FCP RAM Mediob Strata UCITS Cred Fd I4 Cap | 2,015,800.00 |  | 1,929,000.00 |  | 2.21 |
| --- | --- | --- | --- | --- | --- | --- | --- |
| EUR | 37,230 | RAM (Lux) Syst Fds Diversified Alpha PIH Cap | 4,023,073.80 |  | 3,699,172.80 |  | 4.24 |
| EUR | 27,540 | RAM (LUX) Syst Fds Emerging Markets Equities PI (EUR) Cap | 3,608,566.20 |  | 3,433,687.20 |  | 3.93 |
| EUR | 2,077.651 | RAM (Lux) Syst Fds European Equities PI EUR Cap | 1,245,406.34 |  | 1,110,338.25 |  | 1.27 |
| EUR | 44,550 | RAM (LUX) Syst Fds Long/Short Eur Equities PI Cap | 4,873,770.00 |  | 5,226,606.00 |  | 5.99 |
| EUR | 50,110 | RAM (Lux) Syst Fds Long/Short Gl Equities PIH EUR Cap | 4,870,692.00 |  | 5,007,492.30 |  | 5.74 |
| EUR | 33,455.02 | RAM (LUX) Syst Fds Stable Climate Global Equities PI EUR Cap | 4,109,259.53 |  | 4,265,180.50 |  | 4.89 |
| EUR | 74,967.47 | RAM (Lux) Tactical Fds Global Bond Total Return IH Cap | 7,493,948.84 |  | 6,837,782.94 |  | 7.83 |
| EUR | 11,009.14 | Ram (Lux) Tactical Fds II Asia Bd TR PIH EUR Cap | 1,475,885.31 |  | 1,349,720.56 |  | 1.55 |
| EUR | 4,650 | Robeco Capital Gh Fds Sam Circular Economy Eq I Cap | 626,959.80 |  | 539,679.00 |  | 0.62 |
| EUR | 1,000 | Vontobel Fd Clean Technology I Cap | 	534,970.00  |  | 	500,710.00  |  | 	0.57  |
|  |  |  | 48,056,349.78 |  | 46,604,055.27 |  | 53.40 |
| USD | 23,000 | RAM (Lux) Syst Fds Gl Sustainable Income Equities PI Cap | 1,899,256.82 |  | 1,962,476.10 |  | 2.25 |
| Total investment funds (UCITS) | 49,955,606.60 |  | 48,566,531.37 |  | 55.65 |
| Tracker funds (UCITS) |
| USD | 41,000 | Invesco Mks Plc Bloomberg Commodity UCITS ETF USD Cap | 937,473.80 |  | 980,511.47 |  | 1.12 |
| USD | 70,000 | iShares V Plc Gold Producers UCITS ETF USD Cap | 1,053,012.27 |  | 789,340.34 |  | 0.90 |
| USD | 7,000 | SSGA SPDR ETFs Europe I Plc S&P 400 US Mid Cap UCITS Cap | 476,063.06 |  | 452,858.51 |  | 0.52 |
| Total tracker funds (UCITS) | 2,466,549.13 |  | 2,222,710.32 |  | 2.54 |
| Total investments in securities | 86,260,452.86 |  | 82,519,669.19 |  | 94.55 |
| Option contracts |
| Listed financial instruments |
| Index options |
| EUR | 45 | DAX Germany Index PUT 09/22 EUX 12000 | 68,400.00 |  | 81,450.00 |  | 0.09 |
| EUR | 60 | Euro Stoxx 50 EUR (Price) Index PUT 12/22 EUX 3300 | 	73,860.00  |  | 	111,720.00  |  | 	0.13  |
|  |  |  | 142,260.00 |  | 193,170.00 |  | 0.22 |
| USD | 3 | Nasdaq 100 Stock Index PUT 09/22 OPRA 12000 | 93,214.71 |  | 265,310.71 |  | 0.31 |
| USD | 22 | S&P 500 Index PUT 12/22 OPRA 3500 | 	162,723.53  |  | 	324,321.22  |  | 	0.37  |
|  |  |  | 255,938.24 |  | 589,631.93 |  | 0.68 |
| Total option contracts |  | 398,198.24 |  | 782,801.93 |  | 0.90 |
| Cash at banks |  |  |  | 691,084.09 |  | 0.79 |
| Bank overdrafts |  |  |  | -3.81 |  | 0.00 |
| Other net assets/(liabilities) |  |  | 3,278,218.30 |  | 3.76 |
| Total |  |  |  |  | 87,271,769.70 |  | 100.00 |

Translation (ENFR, 2022-06-30):
# Répartition géographique
### (par pays de résidence de l'émetteur) (en pourcentage de l'actif net)
| Etats-Unis d'Amérique | 47,74 % |
| --- | --- |
| Canada | 5,44 % |
| Royaume-Uni | 3,54 % |
| Norvège | 3,41 % |
| Japon | 3,30 % |
| Corée du Sud | 3,27 % |
| Singapour | 3,01 % |
| Allemagne | 2,27 % |
| Mexique | 1,98 % |
| Emirats Arabes Unis | 1,93 % |
| Irlande | 1,86 % |
| Israël | 1,62 % |
| Grèce | 1,36 % |
| Suisse | 1,28 % |
| République de Serbie | 1,23 % |
| Chili | 1,07 % |
| Bolivie | 1,06 % |
| Thaïlande | 0,83 % |
| Iles Vierges (britanniques) | 0,75 % |
| Luxembourg | 0,56 % |
| Turquie | 0,48 % |
| Inde | 0,45 % |
| France | 0,39 % |
| Ouzbékistan | 0,38 % |
| Egypte | 0,35 % |
| Australie | 0,33 % |
| Italie | 0,30 % |
| Roumanie | 0,28 % |
| Autriche | 0,22 % |
| Hong Kong | 0,22 % |
| Caïmans (Iles) | 0,19 % |
| Indonésie | 0,17 % |

| Hongrie | 0,16 % |
| --- | --- |
| Russie | 0,16 % |
| Suède | 0,14 % |
| Brésil | 0,11 % |
| Equateur | 0,11 % |
| Kazakhstan | 0,09 % |
| Ukraine | 0,08 % |
| Sri Lanka | 0,06 % |
| Total | 92,18 % |

| Actif |  |
| --- | --- |
| Portefeuille-titres à la valeur d'évaluation | 82.519.669,19 |
| Contrats d'options à la valeur d'évaluation | 782.801,93 |
| Dépôts de garantie sur futures | 1.781.711,03 |
| Avoirs bancaires | 691.084,09 |
| Frais d'établissement, nets | 11.179,58 |
| A recevoir sur garantie en espèces payée | 180.000,00 |
| Revenus à recevoir sur portefeuille-titres | 52.556,72 |
| Plus-values non réalisées sur futures | 150.850,13 |
| Autres créances | 51.360,39 |
| Charges payées d'avance | 	1.548.633,03  |
| Total de l'actif | 87.769.846,09 |
| Exigible |  |
| Dettes bancaires | 3,81 |
| Moins-values non réalisées sur changes à terme | 164.368,47 |
| Frais à payer | 321.525,47 |
| Autres dettes | 	12.178,64  |
| Total de l'exigible | 498.076,39 |
| Actif net à la fin de la période | 87.271.769,70 |

Répartition des actifs nets par classe d'action
| Classe d'action | Nombre d'actions | Devise action | VNI par action en devise de la classe d'action | Actifs nets par classe d'action (en EUR) |
| --- | --- | --- | --- | --- |
| XID | 105.299,166 | EUR | 95,12 | 10.015.992,16 |
| XMD | 190.533,328 | EUR | 94,61 | 18.026.436,35 |
| XS1D | 626.052,141 | EUR | 94,61 | 	59.229.341,19  |
|  |  |  |  | 	87.271.769,70  |

| Revenus |  |
| --- | --- |
| Dividendes, nets | 331.966,84 |
| Intérêts sur obligations et autres titres, nets | 42.038,12 |
| Intérêts bancaires | 	3.293,69  |
| Total des revenus | 377.298,65 |
| Charges |  |
| Commission de gestion | 556.399,09 |
| Commission de dépositaire | 19.067,81 |
| Frais bancaires et autres commissions | 3.353,52 |
| Frais sur transactions | 46.004,74 |
| Frais d'administration centrale | 27.193,22 |
| Frais professionnels | 3.435,00 |
| Frais d'intermédiation et de plateforme | 4.825,46 |
| Autres frais d'administration | 204.856,75 |
| Taxe d'abonnement | 12.578,85 |
| Intérêts bancaires payés | 16.755,51 |
| Autres charges | 	2.744,81  |
| Total des charges | 897.214,76 |
| Pertes nettes des investissements | -519.916,11 |
| Bénéfice/(perte) net(te) réalisé(e) |  |
| - sur portefeuille-titres | -218.824,78 |
| - sur options | -122.863,39 |
| - sur futures | 3.360.570,03 |
| - sur changes à terme | -1.123.545,83 |
| - sur devises | 	25.865,33  |
| Résultat réalisé | 1.401.285,25 |
| Variation nette de la plus-/(moins-) value non réalisée |  |
| - sur portefeuille-titres | -7.435.333,81 |
| - sur options | 744.500,63 |
| - sur futures | 117.058,01 |
| - sur changes à terme | 	-178.302,46  |
| Résultat des opérations | -5.350.792,38 |
| Dividendes payés | -1.424.333,47 |
| Emissions | - |
| Rachats | -3.265.311,55 |
| Total des variations de l'actif net | -10.040.437,40 |
| Total de l'actif net au début de la période | 97.312.207,10 |
| Total de l'actif net à la fin de la période | 87.271.769,70 |

| Total de l'actif net | Devise | 31.12.2021 | 30.06.2022 |
| --- | --- | --- | --- |
|  | EUR | 97.312.207,10 | 87.271.769,70 |

| VNI par classe d'action | Devise | 31.12.2021 | 30.06.2022 |
| --- | --- | --- | --- |
| XID | EUR | 102,13 | 95,12 |
| XMD | EUR | 101,85 | 94,61 |
| XS1D | EUR | 101,85 | 94,61 |

| Nombre d'actions | en circulation au début de la période | émises | remboursées | en circulation en fin de la période |
| --- | --- | --- | --- | --- |
| XID | 108.293,707 | - | -2.994,541 | 105.299,166 |
| XMD | 204.844,593 | - | -14.311,265 | 190.533,328 |
| XS1D | 642.030,407 | - | -15.978,266 | 626.052,141 |

| Dividendes payés | Devise | Dividende par classe d'action | Date ex-dividende |
| --- | --- | --- | --- |
| XID | EUR | 1,53 | 07.06.2022 |
| XMD | EUR | 1,53 | 07.06.2022 |
| XS1D | EUR | 1,53 | 07.06.2022 |

| Devise | Valeur nominale/ Quantité | Dénomination | Coût d'acquisition |  | Valeur d'évaluation |  | % de l'actif net * |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Portefeuille-titres |
| Valeurs mobilières admises à la cote officielle d'une bourse devaleurs |
| Actions |
| CHF | 190.000 | Credit Suisse Group AG Partizsch | 1.322.317,14 |  | 1.029.071,21 |  | 1,18 |
| CHF | 1.000 | Geberit AG Reg | 611.792,49 |  | 458.475,31 |  | 0,53 |
| CHF | 390 | SGS SA Reg | 1.005.754,25 |  | 851.546,93 |  | 0,98 |
| CHF | 110.000 | UBS Group Inc | 	1.593.467,36  |  | 	1.691.701,94  |  | 	1,94  |
|  |  |  | 4.533.331,24 |  | 4.030.795,39 |  | 4,63 |
| EUR | 72.000 | E.ON SE Reg | 761.873,44 |  | 576.576,00 |  | 0,66 |
| EUR | 125.000 | ENEL SpA | 743.500,00 |  | 652.500,00 |  | 0,75 |
| EUR | 3.380 | L'Oréal SA | 1.282.612,65 |  | 1.113.034,00 |  | 1,28 |
| EUR | 20.000 | RWE AG A | 745.490,65 |  | 701.600,00 |  | 0,80 |
| EUR | 20.000 | Totalenergies SE | 	956.842,38  |  | 	1.007.400,00  |  | 	1,15  |
|  |  |  | 4.490.319,12 |  | 4.051.110,00 |  | 4,64 |
| GBP | 100.000 | Avast PLC Reg | 568.297,00 |  | 600.357,60 |  | 0,69 |
| GBP | 20.199 | Unilever Plc | 	934.603,04  |  | 	872.788,49  |  | 	1,00  |
|  |  |  | 1.502.900,04 |  | 1.473.146,09 |  | 1,69 |
| USD | 15.000 | Activision Blizzard Inc | 1.081.306,85 |  | 1.116.539,20 |  | 1,28 |
| USD | 9.000 | Advanced Micro Devices Inc | 1.133.401,39 |  | 657.963,67 |  | 0,75 |
| USD | 17.000 | Alibaba Group Holding Ltd ADR | 1.459.989,38 |  | 1.847.571,70 |  | 2,12 |
| USD | 6.000 | Amazon.com Inc | 635.283,32 |  | 609.235,18 |  | 0,70 |
| USD | 13.000 | Colgate-Palmolive Co | 885.749,82 |  | 996.003,82 |  | 1,14 |
| USD | 6.000 | JPMorgan Chase & Co | 746.237,17 |  | 645.946,46 |  | 0,74 |
| USD | 3.000 | Mastercard Inc A | 863.849,97 |  | 904.818,36 |  | 1,04 |
| USD | 3.000 | Microsoft Corp | 861.562,34 |  | 736.606,12 |  | 0,84 |
| USD | 8.580 | Nike Inc B | 971.158,78 |  | 838.313,58 |  | 0,96 |
| USD | 8.000 | NVIDIA Corp | 1.490.402,73 |  | 1.159.388,15 |  | 1,33 |
| USD | 13.000 | State Street Corp | 865.185,60 |  | 766.204,59 |  | 0,88 |
| USD | 22.500 | Tencent Holdings Ltd unspons ADR repr 1 Share | 	944.623,82  |  | 	976.362,33  |  | 	1,12  |
|  |  |  | 11.938.751,17 |  | 11.254.953,16 |  | 12,90 |
| Total actions |  | 22.465.301,57 |  | 20.810.004,64 |  | 23,86 |
| Obligations |
| EUR | 1.000.000 | Asian Development Bank 0% Sen 19/24.10.29 | 1.003.990,00 |  | 871.345,00 |  | 1,00 |
| EUR | 1.600.000 | Berlin Hannover Hypobank AG 0.5% EMTN 16/26.09.23 | 1.626.640,00 |  | 1.575.016,00 |  | 1,80 |
| EUR | 1.500.000 | BNP Paribas SA VAR Sen Ser 19195 19/04.06.26 | 1.518.795,00 |  | 1.399.155,00 |  | 1,60 |
| EUR | 1.600.000 | Natl Australia Bank Ltd 0.625% EMTN Ser GMTN Sen 18/30.08.23 | 1.630.784,00 |  | 1.586.952,00 |  | 1,82 |
| EUR | 1.000.000 | Ontario Teachers Fin Trust 0.05% 20/25.11.30 | 981.420,00 |  | 832.340,00 |  | 0,95 |
| EUR | 1.600.000 | Swedbank AB 0.25% EMTN Ser GMTN320 17/07.11.22 | 	1.612.480,00  |  | 	1.600.112,00  |  | 	1,83  |
|  |  |  | 8.374.109,00 |  | 7.864.920,00 |  | 9,00 |
| USD | 1.200.000 | EIB 1.625% 19/09.10.29 | 1.011.505,63 |  | 1.033.170,17 |  | 1,18 |
| USD | 1.200.000 | Hong Kong Special Admi Reg Gov 1.375% EMTN 21/02.02.31 | 965.977,98 |  | 977.386,23 |  | 1,12 |
| USD | 1.200.000 | KFW 1.75% Sen 19/14.09.29 | 	1.021.402,95  |  | 	1.044.946,46  |  | 	1,20  |
|  |  |  | 2.998.886,56 |  | 3.055.502,86 |  | 3,50 |
| Total obligations |  | 11.372.995,56 |  | 10.920.422,86 |  | 12,50 |
| Fonds d'investissement ouverts |
| Fonds d'investissement (OPCVM) |
| EUR | 1.000,837 | Helium Fd Selection S Cap | 1.557.397,45 |  | 1.532.242,41 |  | 1,76 |
| EUR | 35.838,812 | Lazard Gl Inv Fds Plc Rathmore Alternative A Cap | 4.481.844,25 |  | 4.245.135,95 |  | 4,86 |
| EUR | 8.000,516 | Lombard Odier Fds Asia Value Bond N Sytematic Hedged Cap | 1.014.648,64 |  | 843.559,21 |  | 0,97 |
| EUR | 11.000 | Lyxor Newcits IRL II Plc Chenavari Cred Fd I Cap | 1.212.202,20 |  | 1.197.720,70 |  | 1,37 |
| EUR | 22.452,7 | Lyxor Newcits IRL Plc Sandler US Equity Fund I Cap | 2.574.170,62 |  | 2.547.548,45 |  | 2,92 |

| Devise | Valeur nominale/ Quantité | Dénomination | Coût d'acquisition | Valeur d'évaluation | % de l'actif net * |
| --- | --- | --- | --- | --- | --- |

| EUR | 22.000 | MontLake UCITS Platform ICAV Crabel Gemini Fd A Cap | 2.337.754,80 |  | 2.338.479,00 |  | 2,68 |
| --- | --- | --- | --- | --- | --- | --- | --- |
| EUR | 20.000 | Palladium FCP RAM Mediob Strata UCITS Cred Fd I4 Cap | 2.015.800,00 |  | 1.929.000,00 |  | 2,21 |
| EUR | 37.230 | RAM (Lux) Syst Fds Diversified Alpha PIH Cap | 4.023.073,80 |  | 3.699.172,80 |  | 4,24 |
| EUR | 27.540 | RAM (LUX) Syst Fds Emerging Markets Equities PI (EUR) Cap | 3.608.566,20 |  | 3.433.687,20 |  | 3,93 |
| EUR | 2.077,651 | RAM (Lux) Syst Fds European Equities PI EUR Cap | 1.245.406,34 |  | 1.110.338,25 |  | 1,27 |
| EUR | 44.550 | RAM (LUX) Syst Fds Long/Short Eur Equities PI Cap | 4.873.770,00 |  | 5.226.606,00 |  | 5,99 |
| EUR | 50.110 | RAM (Lux) Syst Fds Long/Short Gl Equities PIH EUR Cap | 4.870.692,00 |  | 5.007.492,30 |  | 5,74 |
| EUR | 33.455,02 | RAM (LUX) Syst Fds Stable Climate Global Equities PI EUR Cap | 4.109.259,53 |  | 4.265.180,50 |  | 4,89 |
| EUR | 74.967,47 | RAM (Lux) Tactical Fds Global Bond Total Return IH Cap | 7.493.948,84 |  | 6.837.782,94 |  | 7,83 |
| EUR | 11.009,14 | Ram (Lux) Tactical Fds II Asia Bd TR PIH EUR Cap | 1.475.885,31 |  | 1.349.720,56 |  | 1,55 |
| EUR | 4.650 | Robeco Capital Gh Fds Sam Circular Economy Eq I Cap | 626.959,80 |  | 539.679,00 |  | 0,62 |
| EUR | 1.000 | Vontobel Fd Clean Technology I Cap | 	534.970,00  |  | 	500.710,00  |  | 	0,57  |
|  |  |  | 48.056.349,78 |  | 46.604.055,27 |  | 53,40 |
| USD | 23.000 | RAM (Lux) Syst Fds Gl Sustainable Income Equities PI Cap | 1.899.256,82 |  | 1.962.476,10 |  | 2,25 |
| Total fonds d'investissement (OPCVM) | 49.955.606,60 |  | 48.566.531,37 |  | 55,65 |
| Tracker funds (OPCVM) |
| USD | 41.000 | Invesco Mks Plc Bloomberg Commodity UCITS ETF USD Cap | 937.473,80 |  | 980.511,47 |  | 1,12 |
| USD | 70.000 | iShares V Plc Gold Producers UCITS ETF USD Cap | 1.053.012,27 |  | 789.340,34 |  | 0,90 |
| USD | 7.000 | SSGA SPDR ETFs Europe I Plc S&P 400 US Mid Cap UCITS Cap | 476.063,06 |  | 452.858,51 |  | 0,52 |
| Total tracker funds (OPCVM) | 2.466.549,13 |  | 2.222.710,32 |  | 2,54 |
| Total portefeuille-titres |  | 86.260.452,86 |  | 82.519.669,19 |  | 94,55 |
| Options |  |  |  |  |  |  |  |
| Instruments financiers cotés |
| Options sur indices |
| EUR | 45 | DAX Germany Index PUT 09/22 EUX 12000 | 68.400,00 |  | 81.450,00 |  | 0,09 |
| EUR | 60 | Euro Stoxx 50 EUR (Price) Index PUT 12/22 EUX 3300 | 	73.860,00  |  | 	111.720,00  |  | 	0,13  |
|  |  |  | 142.260,00 |  | 193.170,00 |  | 0,22 |
| USD | 3 | Nasdaq 100 Stock Index PUT 09/22 OPRA 12000 | 93.214,71 |  | 265.310,71 |  | 0,31 |
| USD | 22 | S&P 500 Index PUT 12/22 OPRA 3500 | 	162.723,53  |  | 	324.321,22  |  | 	0,37  |
|  |  |  | 255.938,24 |  | 589.631,93 |  | 0,68 |
| Total options |  |  | 398.198,24 |  | 782.801,93 |  | 0,90 |
| Avoirs bancaires |  |  |  | 691.084,09 |  | 0,79 |
| Dettes bancaires |  |  |  | -3,81 |  | 0,00 |
| Autres actifs/(passifs) nets |  |  | 3.278.218,30 |  | 3,76 |
| Total |  |  |  |  | 87.271.769,70 |  | 100,00 |