# COMPOSITION OF THE ASSETS
| Description | Quantity at 30 June 2022 | Currency | Price in currency | Evaluation EUR | % by the UCI | % portfolio | % net assets |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Transferable securities admitted to an official stock exchange listing |  |  |  | 212,610.00 |  | 0.33% | 0.33% |
| Shares |  |  |  |
| Austria |  |  |  |
| OMV | 4,750 | EUR | 44.76 |
| Belgium |  |  |  | 212,610.00 |  | 0.33% | 0.33% |
| AGEAS SA NV | 4,275 | EUR | 41.98 | 179,464.50 | 0.28% | 0.27% |
| ANHEUSER-BUSCH INBEV | 4,094 | EUR | 51.36 | 210,267.84 | 0.33% | 0.32% |
| BARCO | 8,000 | EUR | 20.16 | 161,280.00 | 0.25% | 0.25% |
| DIETEREN GROUP | 2,469 | EUR | 139.60 | 344,672.40 | 0.54% | 0.53% |
| EVS NEW | 6,935 | EUR | 21.65 | 150,142.75 | 0.23% | 0.23% |
| FAGRON | 11,064 | EUR | 15.44 | 170,828.16 | 0.27% | 0.26% |
| HYLORIS PHARMA | 19,605 | EUR | 14.84 | 290,938.20 | 0.45% | 0.45% |
| KBC | 8,450 | EUR | 53.54 | 452,413.00 | 0.71% | 0.69% |
| KINEPOLIS GROUP SA | 4,209 | EUR | 45.82 | 192,856.38 | 0.30% | 0.30% |
| MELEXIS | 1,850 | EUR | 68.45 | 126,632.50 | 0.20% | 0.19% |
| RECTICEL | 19,500 | EUR | 14.24 | 277,680.00 | 0.43% | 0.43% |
| SOFINA | 680 | EUR | 195.00 | 132,600.00 | 0.21% | 0.20% |
| SOLVAY | 1,744 | EUR | 77.32 | 134,846.08 | 0.21% | 0.21% |
| UCB | 4,575 | EUR | 80.64 | 368,928.00 | 0.58% | 0.57% |
| UMICORE S.A. | 3,450 | EUR | 33.32 | 114,954.00 | 0.18% | 0.18% |
| WAREHOUSES DE PAUW | 5,880 | EUR | 30.00 | 176,400.00 | 0.28% | 0.27% |
| Switzerland |  |  |  | 3,484,903.81 |  | 5.43% | 5.34% |
| BB BIOTECH N | 2,875 | CHF | 56.60 | 162,578.68 | 0.25% | 0.25% |
| NESTLE NOM | 1,835 | CHF | 111.44 | 204,308.52 | 0.32% | 0.31% |
| ROCHE HOLDING -GE- | 920 | CHF | 318.55 | 292,802.48 | 0.46% | 0.45% |
| SIG GROUP AG | 7,650 | CHF | 21.02 | 160,658.41 | 0.25% | 0.25% |
| Germany (Federal Republic) |  |  |  | 820,348.09 |  | 1.28% | 1.26% |
| ALLIANZ-NOM- | 720 | EUR | 182.12 | 131,126.40 | 0.20% | 0.20% |
| BEIERSDORF | 1,040 | EUR | 97.48 | 101,379.20 | 0.16% | 0.16% |
| BMW | 3,275 | EUR | 73.46 | 240,581.50 | 0.38% | 0.37% |
| CEWE STIFT | 2,375 | EUR | 80.50 | 191,187.50 | 0.30% | 0.29% |
| COVESTRO | 4,000 | EUR | 32.98 | 131,920.00 | 0.21% | 0.20% |
| DERMAPHARM HOLDING | 2,155 | EUR | 47.50 | 102,362.50 | 0.16% | 0.16% |
| DEUTSCHE POST | 2,800 | EUR | 35.74 | 100,072.00 | 0.16% | 0.15% |
| DEUTSCHE TELEKOM NOM | 12,645 | EUR | 18.95 | 239,572.17 | 0.37% | 0.37% |
| HANNOVER RUECK SE | 1,250 | EUR | 138.50 | 173,125.00 | 0.27% | 0.27% |
| INFINEON | 8,350 | EUR | 23.09 | 192,801.50 | 0.30% | 0.30% |
| LEIFHEIT AG | 6,500 | EUR | 19.80 | 128,700.00 | 0.20% | 0.20% |
| MERCK | 2,032 | EUR | 161.00 | 327,152.00 | 0.51% | 0.50% |
| SAP | 2,345 | EUR | 86.93 | 203,850.85 | 0.32% | 0.31% |
| VIB VERMOEGEN AG | 4,933 | EUR | 24.00 | 118,392.00 | 0.18% | 0.18% |
| VONOVIA SE | 4,000 | EUR | 29.40 | 117,600.00 | 0.18% | 0.18% |
| Denmark |  |  |  | 2,499,822.62 |  | 3.90% | 3.83% |
| DSV AS | 1,495 | DKK | 991.20 | 199,262.30 | 0.31% | 0.31% |
| ORSTED | 2,810 | DKK | 741.90 | 280,333.08 | 0.44% | 0.43% |
| ROYAL UNIBREW | 2,000 | DKK | 628.40 | 169,000.83 | 0.26% | 0.26% |
| Spain |  |  |  | 648,596.21 |  | 1.01% | 0.99% |
| AMADEUS IT GROUP SA | 4,270 | EUR | 53.16 | 226,993.20 | 0.35% | 0.35% |

| Description | Quantity at 30 June 2022 | Currency | Price in currency | Evaluation EUR | % by the UCI | % portfolio | % net assets |
| --- | --- | --- | --- | --- | --- | --- | --- |
| CELLNEX TELECOM | 4,305 | EUR | 37.03 | 159,414.15 |  | 0.25% | 0.24% |
| FLUIDRA SA | 6,000 | EUR | 19.34 | 116,040.00 | 0.18% | 0.18% |
| IBERDROLA SA | 33,871 | EUR | 9.90 | 335,187.42 | 0.52% | 0.51% |
| Finland |  |  |  | 837,634.77 |  | 1.31% | 1.28% |
| KONECRANES PLC | 6,110 | EUR | 22.22 | 135,764.20 | 0.21% | 0.21% |
| NESTE CORPORATION | 3,000 | EUR | 42.24 | 126,720.00 | 0.20% | 0.19% |
| Faroe |  |  |  | 262,484.20 |  | 0.41% | 0.40% |
| BAKKAFROST P-F | 3,200 | NOK | 630.00 | 195,183.35 | 0.30% | 0.30% |
| France |  |  |  | 195,183.35 |  | 0.30% | 0.30% |
| AIR LIQUIDE | 1,389 | EUR | 128.12 | 177,958.68 | 0.28% | 0.27% |
| ALSTOM | 10,621 | EUR | 21.59 | 229,307.39 | 0.36% | 0.35% |
| ALTEN SA | 1,575 | EUR | 103.80 | 163,485.00 | 0.25% | 0.25% |
| AMUNDI | 2,075 | EUR | 52.20 | 108,315.00 | 0.17% | 0.17% |
| BNP | 6,000 | EUR | 45.37 | 272,190.00 | 0.42% | 0.42% |
| CAPGEMINI | 1,510 | EUR | 163.45 | 246,809.50 | 0.38% | 0.38% |
| CIE DES ALPES | 14,250 | EUR | 14.28 | 203,490.00 | 0.32% | 0.31% |
| ESSILOR LUX | 1,000 | EUR | 142.90 | 142,900.00 | 0.22% | 0.22% |
| EURAZEO SA | 2,500 | EUR | 59.10 | 147,750.00 | 0.23% | 0.23% |
| EUROAPI | 135 | EUR | 15.05 | 2,032.29 | 0.00% | 0.00% |
| HERMES | 279 | EUR | 1,067.00 | 297,693.00 | 0.46% | 0.46% |
| IPSOS SA | 5,450 | EUR | 45.30 | 246,885.00 | 0.38% | 0.38% |
| REXEL | 14,000 | EUR | 14.68 | 205,450.00 | 0.32% | 0.31% |
| SANOFI | 3,760 | EUR | 96.34 | 362,238.40 | 0.56% | 0.55% |
| SCHNEIDER ELECTRIC | 1,393 | EUR | 112.90 | 157,269.70 | 0.25% | 0.24% |
| SOMFY | 1,140 | EUR | 124.00 | 141,360.00 | 0.22% | 0.22% |
| TELEPERFORMANCE | 555 | EUR | 293.30 | 162,781.50 | 0.25% | 0.25% |
| THALES | 1,200 | EUR | 117.05 | 140,460.00 | 0.22% | 0.22% |
| TOTALENERGIES SE | 7,125 | EUR | 50.37 | 358,886.25 | 0.56% | 0.55% |
| VERALLIA | 10,000 | EUR | 22.78 | 227,800.00 | 0.36% | 0.35% |
| WORLDLINE SA | 6,250 | EUR | 35.38 | 221,125.00 | 0.34% | 0.34% |
| United Kingdom |  |  |  | 4,216,186.71 |  | 6.57% | 6.46% |
| ASTRAZENECA | 2,668 | GBP | 108.00 | 334,739.78 | 0.52% | 0.51% |
| AVEVA GROUP PLC | 4,500 | GBP | 22.51 | 117,675.42 | 0.18% | 0.18% |
| BEAZLEY PLC | 38,500 | GBP | 4.99 | 223,181.92 | 0.35% | 0.34% |
| CRODA INTERNATIONAL | 1,874 | GBP | 64.72 | 140,898.33 | 0.22% | 0.22% |
| DS SMITH PLC | 51,000 | GBP | 2.77 | 164,292.52 | 0.26% | 0.25% |
| INTEGRAFIN | 36,740 | GBP | 2.25 | 95,947.40 | 0.15% | 0.15% |
| INTERCONT HOTELS | 2,950 | GBP | 43.50 | 149,076.44 | 0.23% | 0.23% |
| PETS AT HOME GROUP | 35,000 | GBP | 3.07 | 124,907.06 | 0.19% | 0.19% |
| RIGHTMOVE PLC | 10,000 | GBP | 5.68 | 66,031.60 | 0.10% | 0.10% |
| VOLUTION GROUP PLC | 37,150 | GBP | 3.37 | 145,225.08 | 0.23% | 0.22% |
| Ireland |  |  |  | 1,561,975.55 |  | 2.44% | 2.39% |
| GLANBIA PLC | 10,000 | EUR | 10.33 | 103,300.00 | 0.16% | 0.16% |
| KERRY | 1,300 | EUR | 91.34 | 118,742.00 | 0.19% | 0.18% |
| KINGSPAN GROUP PLC | 3,205 | EUR | 57.40 | 183,967.00 | 0.29% | 0.28% |
| TRANE TECHNOLOGIES | 1,820 | USD | 129.87 | 226,087.71 | 0.35% | 0.35% |
| Italy |  |  |  | 632,096.71 |  | 0.99% | 0.97% |
| AMPLIFON SPA | 6,900 | EUR | 29.25 | 201,825.00 | 0.31% | 0.31% |
| AUTOGRILL | 30,000 | EUR | 6.34 | 190,080.00 | 0.30% | 0.29% |
| BANCA GENERALI SPA | 7,335 | EUR | 26.96 | 197,751.60 | 0.31% | 0.30% |
| BUZZI UNICEM | 7,750 | EUR | 15.61 | 120,977.50 | 0.19% | 0.19% |
| CAREL INDUSTR | 9,000 | EUR | 18.96 | 170,640.00 | 0.27% | 0.26% |

| Description | Quantity at 30 June 2022 | Currency | Price in currency | Evaluation EUR | % by the UCI | % portfolio | % net assets |
| --- | --- | --- | --- | --- | --- | --- | --- |
| DANIELI AND C | 9,000 | EUR | 19.50 | 175,500.00 |  | 0.27% | 0.27% |
| ENEL NEW | 50,250 | EUR | 5.22 | 262,305.00 | 0.41% | 0.40% |
| INTERPUMP GROUP SPA | 5,795 | EUR | 36.38 | 210,822.10 | 0.33% | 0.32% |
| INTESA SANPAOLO | 124,800 | EUR | 1.78 | 222,144.00 | 0.35% | 0.34% |
| MARR SPA | 10,650 | EUR | 13.16 | 140,154.00 | 0.22% | 0.21% |
| MEDIOBANCA | 22,887 | EUR | 8.26 | 189,000.85 | 0.29% | 0.29% |
| MONCLER SPA | 4,950 | EUR | 40.93 | 202,603.50 | 0.32% | 0.31% |
| PIRELLI C S.P.A. | 37,100 | EUR | 3.88 | 143,799.60 | 0.22% | 0.22% |
| PRYSMIAN SPA | 7,367 | EUR | 26.21 | 193,089.07 | 0.30% | 0.30% |
| REPLY S.P.A. | 1,615 | EUR | 115.70 | 186,855.50 | 0.29% | 0.29% |
| Luxembourg (Grand Duchy) |  |  |  | 2,807,547.72 |  | 4.38% | 4.30% |
| STABILUS SE | 2,750 | EUR | 46.65 | 128,287.50 | 0.20% | 0.20% |
| Netherlands |  |  |  | 128,287.50 |  | 0.20% | 0.20% |
| ADYEN N.V. | 192 | EUR | 1,388.00 | 266,496.00 | 0.42% | 0.41% |
| ARISTON HOLDING NV | 19,000 | EUR | 7.82 | 148,485.00 | 0.23% | 0.23% |
| ASM INTERNATIONAL | 665 | EUR | 238.60 | 158,669.00 | 0.25% | 0.24% |
| ASML HOLDING NV | 400 | EUR | 455.85 | 182,340.00 | 0.28% | 0.28% |
| BASIC-FIT | 4,887 | EUR | 36.08 | 176,322.96 | 0.27% | 0.27% |
| CORBION | 3,500 | EUR | 28.86 | 101,010.00 | 0.16% | 0.15% |
| CTP B.V. | 13,812 | EUR | 11.00 | 151,932.00 | 0.24% | 0.23% |
| DAVIDE CAMP MIL | 15,000 | EUR | 10.04 | 150,525.00 | 0.23% | 0.23% |
| DSM | 1,138 | EUR | 137.10 | 156,019.80 | 0.24% | 0.24% |
| FERRARI NV | 1,350 | EUR | 175.20 | 236,520.00 | 0.37% | 0.36% |
| IMCD N.V. | 2,145 | EUR | 130.95 | 280,887.75 | 0.44% | 0.43% |
| ING GROUP | 20,000 | EUR | 9.43 | 188,620.00 | 0.29% | 0.29% |
| KPN NEW | 65,050 | EUR | 3.40 | 221,235.05 | 0.34% | 0.34% |
| RANDSTAD N.V. | 2,900 | EUR | 46.20 | 133,980.00 | 0.21% | 0.21% |
| STELLANTIS N.V. | 14,337 | EUR | 11.79 | 169,061.90 | 0.26% | 0.26% |
| UNIVERSAL MUSIC | 7,000 | EUR | 19.13 | 133,938.00 | 0.21% | 0.21% |
| Norway |  |  |  | 2,856,042.46 |  | 4.45% | 4.38% |
| DNB BANK ASA | 13,125 | NOK | 176.55 | 224,346.48 | 0.35% | 0.34% |
| TOMRA SYSTEMS ASA | 6,050 | NOK | 182.68 | 107,003.65 | 0.17% | 0.16% |
| Sweden |  |  |  | 331,350.13 |  | 0.52% | 0.51% |
| ATLAS COPCO A | 14,760 | SEK | 95.57 | 131,671.19 | 0.21% | 0.20% |
| HUSQVARNA B | 15,000 | SEK | 75.24 | 105,347.17 | 0.16% | 0.16% |
| NIBE INDUSTRIER AK B | 10,000 | SEK | 76.80 | 71,687.60 | 0.11% | 0.11% |
| United States of America |  |  |  | 308,705.96 |  | 0.48% | 0.47% |
| ADOBE INC | 367 | USD | 366.06 | 128,503.53 | 0.20% | 0.20% |
| AGILENT | 2,190 | USD | 118.77 | 248,798.41 | 0.39% | 0.38% |
| ALPHABET INC -A- | 108 | USD | 2,179.26 | 225,128.01 | 0.35% | 0.34% |
| AMAZON.COM INC | 1,640 | USD | 106.21 | 166,611.89 | 0.26% | 0.26% |
| AMEDISYS INC | 1,500 | USD | 105.12 | 150,825.00 | 0.24% | 0.23% |
| APPLE | 3,370 | USD | 136.72 | 440,715.86 | 0.69% | 0.68% |
| AUTOZONE | 205 | USD | 2,149.12 | 421,416.23 | 0.66% | 0.65% |
| CATERPILLAR | 1,640 | USD | 178.76 | 280,421.25 | 0.44% | 0.43% |
| DOLLAR TREE | 2,575 | USD | 155.85 | 383,867.00 | 0.60% | 0.59% |
| HOME DEPOT | 1,015 | USD | 274.27 | 266,281.55 | 0.42% | 0.41% |
| MCKESSON | 1,500 | USD | 326.21 | 468,042.47 | 0.73% | 0.72% |
| METLIFE | 4,404 | USD | 62.79 | 264,505.39 | 0.41% | 0.41% |
| MICROSOFT | 1,795 | USD | 256.83 | 440,967.86 | 0.69% | 0.68% |
| NIKE INC -B- | 1,275 | USD | 102.20 | 124,640.11 | 0.19% | 0.19% |
| PAYPAL HOLDINGS-WI | 2,250 | USD | 69.84 | 150,308.48 | 0.23% | 0.23% |
| PFIZER | 7,265 | USD | 52.43 | 364,344.49 | 0.57% | 0.56% |
| PTC INC | 1,950 | USD | 106.34 | 198,348.08 | 0.31% | 0.30% |
| ROSS STORES | 2,615 | USD | 70.23 | 175,667.37 | 0.27% | 0.27% |

| Description | Quantity at 30 June 2022 | Currency | Price in currency | Evaluation EUR | % by the UCI | % portfolio | % net assets |
| --- | --- | --- | --- | --- | --- | --- | --- |
| SALESFORCE INC | 1,165 | USD | 165.04 | 183,912.76 |  | 0.29% | 0.28% |
| SCHWAB | 3,050 | USD | 63.18 | 184,321.58 | 0.29% | 0.28% |
| SERVICENOW INC | 446 | USD | 475.52 | 202,861.85 | 0.32% | 0.31% |
| STARBUCKS CORP | 2,500 | USD | 76.39 | 182,672.53 | 0.28% | 0.28% |
| SYNOPSYS | 1,240 | USD | 303.70 | 360,216.17 | 0.56% | 0.55% |
| WALT DISNEY | 1,565 | USD | 94.40 | 141,313.31 | 0.22% | 0.22% |
| WASTE | 1,935 | USD | 152.98 | 283,147.26 | 0.44% | 0.43% |
|  |  |  |  | 6,437,838.44 |  | 10.04% | 9.86% |
| Total - Shares |  |  |  | 28,241,614.23 | 44.04% | 43.26% |
| Bonds and other debt securities |  |  |  |  |  |  |
| State |  |  |  |  |  |  |
| Belgium |  |  |  |  |  |  |
| BELOLO31 5,50 97-28 | 500,000 | EUR | 123.10 | 615,507.50 | 0.96% | 0.94% |
| BELOLO34 3,00 14-34 | 400,000 | EUR | 109.00 | 436,014.00 | 0.68% | 0.67% |
| Germany (Federal Republic) |  |  |  | 1,051,521.50 |  | 1.64% | 1.61% |
| GERMANY 0.10 12-23 | 450,000 | EUR | 103.81 | 554,031.30 | 0.86% | 0.85% |
| GERMANY 5,50 00-31 | 750,000 | EUR | 134.42 | 1,008,138.75 | 1.57% | 1.54% |
| Spain |  |  |  | 1,562,170.05 |  | 2.44% | 2.39% |
| SPAIN 0,60 19-29 | 1,450,000 | EUR | 90.49 | 1,312,083.25 | 2.05% | 2.01% |
| SPAIN 1,60 15-25 | 2,650,000 | EUR | 100.94 | 2,674,936.50 | 4.17% | 4.10% |
| SPAIN 2,90 16-46 | 1,000,000 | EUR | 99.49 | 994,890.00 | 1.55% | 1.52% |
| SPAIN 4,20 05-37 | 1,260,000 | EUR | 118.58 | 1,494,139.50 | 2.33% | 2.29% |
| SPAIN KING 1,8 13-24 | 650,000 | EUR | 110.24 | 821,822.38 | 1.28% | 1.26% |
| France |  |  |  | 7,297,871.63 |  | 11.38% | 11.18% |
| FRANCE 2,50 13-30 | 3,200,000 | EUR | 106.62 | 3,411,824.00 | 5.32% | 5.23% |
| FRA OAT 4,00 06-38 | 800,000 | EUR | 124.12 | 992,992.00 | 1.55% | 1.52% |
| Ireland |  |  |  | 4,404,816.00 |  | 6.87% | 6.75% |
| IRISH TREA 1,0 16-26 | 1,500,000 | EUR | 99.58 | 1,493,745.00 | 2.33% | 2.29% |
| Italy |  |  |  | 1,493,745.00 |  | 2.33% | 2.29% |
| ITA BTP 6,50 97-27 | 2,500,000 | EUR | 120.68 | 3,017,062.50 | 4.70% | 4.62% |
| ITALY 2,00 18-28 | 2,300,000 | EUR | 97.37 | 2,239,510.00 | 3.49% | 3.43% |
| ITALY 4,75 13-28 | 2,400,000 | EUR | 111.71 | 2,680,980.00 | 4.18% | 4.11% |
| Portugal |  |  |  | 7,937,552.50 |  | 12.38% | 12.16% |
| PORTUGAL 3,875 14-30 | 350,000 | EUR | 113.30 | 396,551.75 | 0.62% | 0.61% |
| PORTUGAL 4,10 06-37 | 650,000 | EUR | 118.26 | 768,667.25 | 1.20% | 1.18% |
| PORTUGAL 4,125 17-27 | 700,000 | EUR | 111.78 | 782,449.50 | 1.22% | 1.20% |
| Slovakia (Slovak Republic) |  |  |  | 1,947,668.50 |  | 3.04% | 2.98% |
| SLOVAKIA 0,00 16-23 | 1,000,000 | EUR | 99.06 | 990,620.00 | 1.54% | 1.52% |
| SLOVAKIA 1,00 18-28 | 400,000 | EUR | 95.56 | 382,220.00 | 0.60% | 0.59% |
|  |  |  |  | 1,372,840.00 |  | 2.14% | 2.10% |
| Total - State |  |  |  | 27,068,185.18 | 42.21% | 41.47% |
| Public Sector Bond |  |  |  |  |  |  |

| Description | Quantity at 30 June 2022 | Currency | Price in currency | Evaluation EUR | % by the UCI | % portfolio | % net assets |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Belgium |  |  |  | 445,272.50 |  | 0.69% | 0.68% |
| FLEMISH 0,375 20-30 | 500,000 | EUR | 89.05 |
| France |  |  |  | 445,272.50 |  | 0.69% | 0.68% |
| LA POSTE 0,625 21-36 | 600,000 | EUR | 67.54 | 405,240.00 | 0.63% | 0.62% |
|  |  |  |  | 405,240.00 |  | 0.63% | 0.62% |
| Total - Public Sector Bond |  |  |  | 850,512.50 | 1.33% | 1.30% |
| Private corporation |  |  |  |  |  |  |
| Belgium |  |  |  |  |  |  |
| VGP NV 1,50 21-29 | 400,000 | EUR | 66.92 | 267,678.00 | 0.42% | 0.41% |
| Germany (Federal Republic) |  |  |  | 267,678.00 |  | 0.42% | 0.41% |
| ADIDAS 0,00 20-28 | 400,000 | EUR | 86.80 | 347,182.00 | 0.54% | 0.53% |
| France |  |  |  | 347,182.00 |  | 0.54% | 0.53% |
| ARGAN 3,25 17-23 | 300,000 | EUR | 90.26 | 270,780.00 | 0.42% | 0.41% |
| FIN APSYS 4,75 17-22 | 400,000 | EUR | 100.19 | 400,760.00 | 0.62% | 0.61% |
| VEOLIA 0,927 16-29 | 200,000 | EUR | 89.37 | 178,740.00 | 0.28% | 0.27% |
| VIVENDI 1,875 16-26 | 400,000 | EUR | 98.26 | 393,032.00 | 0.61% | 0.60% |
| Ireland |  |  |  | 1,243,312.00 |  | 1.94% | 1.90% |
| KERRY 2,375 15-25 | 400,000 | EUR | 100.12 | 400,468.00 | 0.62% | 0.61% |
| Italy |  |  |  | 400,468.00 |  | 0.62% | 0.61% |
| ACEA SPA 0,25 21-30 | 340,000 | EUR | 76.16 | 258,937.20 | 0.40% | 0.40% |
| Luxembourg (Grand Duchy) |  |  |  | 258,937.20 |  | 0.40% | 0.40% |
| MEDTRON 1,625 19-31 | 750,000 | EUR | 90.90 | 681,746.25 | 1.06% | 1.04% |
| Netherlands |  |  |  | 681,746.25 |  | 1.06% | 1.04% |
| CRH FD 1,875 15-24 | 700,000 | EUR | 99.89 | 699,216.00 | 1.09% | 1.07% |
| DEUTSCHE 3,25 13-28 | 900,000 | EUR | 103.17 | 928,489.50 | 1.45% | 1.42% |
| IBERDROLA 1,00 17-25 | 300,000 | EUR | 97.93 | 293,800.50 | 0.46% | 0.45% |
| NAT FIN 1,375 15-25 | 400,000 | EUR | 97.47 | 389,896.00 | 0.61% | 0.60% |
| United States of America |  |  |  | 2,311,402.00 |  | 3.60% | 3.54% |
| THERMO F 0,875 19-31 | 750,000 | EUR | 83.97 | 629,775.00 | 0.98% | 0.96% |
|  |  |  |  | 629,775.00 |  | 0.98% | 0.96% |
| Total - Private corporation |  |  |  | 6,140,500.45 | 9.57% | 9.41% |
| Total - Bonds and other debt securities |  |  |  | 34,059,198.13 | 53.11% | 52.17% |
| UCI with variable number of shares |  |  |  |  |  |  |
| Shares |  |  |  |  |  |  |
| Directive 2009/65/EC - Registered with FSMA |  |  |  |  |  |  |
| FEDER HER INV GL EM | 187,500 | EUR | 2.91 | 545,606.25 | 0.85% | 0.84% |

| Description | Quantity at 30 June 2022 | Currency | Price in currency | Evaluation EUR | % by the UCI | % portfolio | % net assets |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Total - Directive 2009/65/EC - Registered with FSMA |  |  |  | 545,606.25 |  | 0.85% | 0.84% |
| Not directive 2009/65/EC - Not registered with FSMA |  |  |  |  |  |  |
| JPMF EM MKT OPP IC | 3,725 | EUR | 146.51 | 545,749.75 | 0.85% | 0.84% |
| Total - Not directive 2009/65/EC - Not registered with FSMA |  |  |  | 545,749.75 | 0.85% | 0.84% |
| Total - Shares |  |  |  | 1,091,356.00 | 1.70% | 1.67% |
| Bonds and other debt securities |  |  |  |  |  |  |
| Directive 2009/65/EC - Registered with FSMA |  |  |  |  |  |  |
| DPAM L BD EM SUS F | 5,686 | EUR | 130.14 | 739,976.04 | 1.15% | 1.13% |
| Total - Directive 2009/65/EC - Registered with FSMA |  |  |  | 739,976.04 | 1.15% | 1.13% |
| Total - Bonds and other debt securities |  |  |  | 739,976.04 | 1.15% | 1.13% |
| Total - UCI with variable number of shares |  |  |  | 1,831,332.04 | 2.86% | 2.81% |
| Total - Transferable securities admitted to an official stock exchange listing |  |  |  | 64,132,144.40 | 100.00% | 98.24% |
| Total - portfolio |  |  |  | 64,132,144.40 | 100.00% | 98.24% |
| Collatéral |  |  |  | 0.00 |  | 0.00% |
| Deposits and liquid assets |  |  |  |  |  |  |
| deposit and liquid assets |  |  |  |  |  |  |
| Banque Degroof Petercam |  | EUR |  | 909,612.77 |  | 1.39% |
| Banque Degroof Petercam |  | GBP |  | 1,360.03 |  | 0.00% |
| Banque Degroof Petercam |  | GBP |  | 5.77 |  | 0.00% |
| Banque Degroof Petercam |  | USD |  | 1.48 |  | 0.00% |
| Banque Degroof Petercam |  | USD |  | 647.27 |  | 0.00% |
| Total - deposit and liquid assets |  |  |  | 911,627.32 |  | 1.40% |
| Total - Deposits and liquid assets |  |  |  | 911,627.32 |  | 1.40% |
| Other receivables and other payables |  |  |  | -57,286.74 |  | -0.09% |
| Others |  |  |  | 292,430.58 |  | 0.45% |
| Total net assets |  |  |  | 65,278,915.56 |  | 100,00% |

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Translation (ENFR, 2022-06-30):
# COMPOSITION DES ACTIFS
| Dénomination | Quantité au 30 juin 2022 | Devise | Cours en devise | Evaluation EUR | % détenu par l'OPC | % porte- feuille | % actif net |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Valeurs mobilières admises à la cote officielle d'une bourse de valeurs |  |  |  | 1.815.000,00 |  | 0,81% | 0,79% |
| Actions |  |  |  |
| Autriche |  |  |  |
| CA IMMOBILIEN | 60.000 | EUR | 30,25 |
| Belgique |  |  |  | 1.815.000,00 |  | 0,81% | 0,79% |
| AEDIFICA | 53.000 | EUR | 91,50 | 4.849.500,00 | 2,17% | 2,12% |
| COFINIMMO | 58.153 | EUR | 103,60 | 6.024.650,80 | 2,70% | 2,64% |
| INTERVEST OFFICES | 479.166 | EUR | 25,00 | 11.979.150,00 | 5,37% | 5,25% |
| RETAIL ESTATES | 144.200 | EUR | 63,50 | 9.156.700,00 | 4,10% | 4,01% |
| VGP | 18.000 | EUR | 152,00 | 2.736.000,00 | 1,23% | 1,20% |
| WAREHOUSES DE PAUW | 224.000 | EUR | 30,00 | 6.720.000,00 | 3,01% | 2,94% |
| Allemagne |  |  |  | 41.466.000,80 |  | 18,58% | 18,16% |
| LEG IMMOBILIEN SE | 81.000 | EUR | 79,12 | 6.408.720,00 | 2,87% | 2,81% |
| TAG IMMOBILIEN AG | 465.000 | EUR | 10,89 | 5.063.850,00 | 2,27% | 2,22% |
| VONOVIA SE | 496.000 | EUR | 29,40 | 14.582.400,00 | 6,54% | 6,39% |
| Espagne |  |  |  | 26.054.970,00 |  | 11,68% | 11,41% |
| MERLIN PROPERTIES | 800.000 | EUR | 9,21 | 7.364.000,00 | 3,30% | 3,22% |
| France |  |  |  | 7.364.000,00 |  | 3,30% | 3,22% |
| ALTAREA | 54.454 | EUR | 130,60 | 7.111.692,40 | 3,19% | 3,11% |
| ARGAN | 166.379 | EUR | 89,20 | 14.841.006,80 | 6,65% | 6,50% |
| CARMILA SAS | 371.000 | EUR | 13,50 | 5.008.500,00 | 2,24% | 2,19% |
| CBO TERRITORIA N. | 840.000 | EUR | 3,62 | 3.040.800,00 | 1,36% | 1,33% |
| COVIVIO | 70.000 | EUR | 52,95 | 3.706.500,00 | 1,66% | 1,62% |
| ICADE | 157.000 | EUR | 46,54 | 7.306.780,00 | 3,27% | 3,20% |
| KLEPIERRE | 159.000 | EUR | 18,36 | 2.919.240,00 | 1,31% | 1,28% |
| MERCIALYS | 655.000 | EUR | 7,71 | 5.050.050,00 | 2,26% | 2,21% |
| UNIBAIL RODAMCO WEST | 61.000 | EUR | 48,65 | 2.967.650,00 | 1,33% | 1,30% |
| Royaume-Uni |  |  |  | 51.952.219,20 |  | 23,28% | 22,75% |
| EMPIRIC STUDENT | 1.875.000 | GBP | 0,86 | 1.873.257,43 | 0,84% | 0,82% |
| HOME REIT | 3.061.532 | GBP | 1,14 | 4.040.311,74 | 1,81% | 1,77% |
| LAND SECS REIT | 320.000 | GBP | 6,64 | 2.468.401,49 | 1,11% | 1,08% |
| LONDONMETRIC PROP | 1.300.000 | GBP | 2,28 | 3.449.349,44 | 1,55% | 1,51% |
| LXI REIT PLC | 4.200.000 | GBP | 1,42 | 6.947.955,39 | 3,11% | 3,04% |
| NEWRIVER REIT | 4.601.525 | GBP | 0,88 | 4.720.198,16 | 2,12% | 2,07% |
| SUPERMARKET REIT | 3.933.250 | GBP | 1,20 | 5.460.308,72 | 2,45% | 2,39% |
| URBAN LOGIS REIT | 1.800.000 | GBP | 1,61 | 3.377.091,08 | 1,51% | 1,48% |
| WAREHOUSE REIT PLC | 2.900.000 | GBP | 1,47 | 4.965.845,72 | 2,23% | 2,17% |
| Guernsey |  |  |  | 37.302.719,17 |  | 16,72% | 16,34% |
| REGIONAL REIT | 5.685.989 | GBP | 0,72 | 4.775.755,17 | 2,14% | 2,09% |
| SIRIUS REAL ESTA | 8.000.000 | GBP | 0,89 | 8.289.962,83 | 3,72% | 3,63% |
| Irlande |  |  |  | 13.065.718,00 |  | 5,86% | 5,72% |

| Dénomination | Quantité au 30 juin 2022 | Devise | Cours en devise | Evaluation EUR | % détenu par l'OPC | % porte- feuille | % actif net |
| --- | --- | --- | --- | --- | --- | --- | --- |
| IRISH RESIDENT PROP | 2.827.253 | EUR | 1,27 | 3.579.302,30 |  | 1,60% | 1,57% |
| Jersey |  |  |  | 3.579.302,30 |  | 1,60% | 1,57% |
| PHOENIX -N REIT | 1.200.000 | GBP | 3,16 | 4.405.204,46 | 1,97% | 1,93% |
| Luxembourg (Grand-Duché) |  |  |  | 4.405.204,46 |  | 1,97% | 1,93% |
| GRAND CITY PROP | 220.000 | EUR | 12,88 | 2.833.600,00 | 1,27% | 1,24% |
| Pays-Bas |  |  |  | 2.833.600,00 |  | 1,27% | 1,24% |
| CTP B.V. | 496.758 | EUR | 11,00 | 5.464.338,00 | 2,45% | 2,39% |
| NSI N.V. | 305.216 | EUR | 32,85 | 10.026.345,60 | 4,49% | 4,39% |
| Suède |  |  |  | 15.490.683,60 |  | 6,94% | 6,78% |
| CASTELLUM AB | 231.000 | SEK | 131,45 | 2.834.362,44 | 1,27% | 1,24% |
| CATENA | 87.000 | SEK | 371,20 | 3.014.463,53 | 1,35% | 1,32% |
| CIBUS NORDIC REAL | 104.573 | SEK | 157,90 | 1.541.290,54 | 0,69% | 0,67% |
|  |  |  |  | 7.390.116,51 |  | 3,31% | 3,24% |
| Total - Actions |  |  |  | 212.719.534,04 | 95,33% | 93,16% |
| Obligations et autres titres de créances |  |  |  |  |  |  |
| Emis(es) par une entreprise privée |  |  |  |  |  |  |
| France |  |  |  |  |  |  |
| FINANCIERE 5,5 18-23 | 1.800.000 | EUR | 100,00 | 1.800.000,00 | 0,81% | 0,79% |
| SCBSM 2,50 17-23 | 357.165 | EUR | 9,36 | 3.342.350,07 | 1,50% | 1,46% |
|  |  |  |  | 5.142.350,07 |  | 2,30% | 2,25% |
| Total - Emis(es) par une entreprise privée |  |  |  | 5.142.350,07 | 2,30% | 2,25% |
| Total - Obligations et autres titres de créances |  |  |  | 5.142.350,07 | 2,30% | 2,25% |
| OPC à nombre fixe de parts |  |  |  |  |  |  |
| Actions |  |  |  |  |  |  |
| Directive 2009/65/CE & Non Inscrit auprès de la FSMA |  |  |  |  |  |  |
| Guernsey |  |  |  |  |  |  |
| REAL EST CR EUR | 3.068.981 | GBP | 1,48 | 5.276.593,73 | 2,36% | 2,31% |
|  |  |  |  | 5.276.593,73 |  | 2,36% | 2,31% |
| Total - Directive 2009/65/CE & Non Inscrit auprès de la FSMA |  |  |  | 5.276.593,73 | 2,36% | 2,31% |
| Total - Actions |  |  |  | 5.276.593,73 | 2,36% | 2,31% |
| Total - OPC à nombre fixe de parts |  |  |  | 5.276.593,73 | 2,36% | 2,31% |
| Total - Valeurs mobilières admises à la cote officielle d'une bourse de valeurs |  |  |  | 223.138.477,84 | 100,00% | 97,72% |
| Total - portefeuille |  |  |  | 223.138.477,84 | 100,00% | 97,72% |
| Collatéral |  |  |  | 0,00 |  | 0,00% |
| Dépôts et Liquidités |  |  |  |  |  |  |

| Dénomination | Quantité au 30 juin 2022 | Devise | Cours en devise | Evaluation EUR | % détenu par l'OPC | % porte- feuille | % actif net |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Avoirs bancaires à vue |  |  |  |  |  |  |  |
| Banque Degroof Petercam | GBP | 199,15 | 0,00% |
| Banque Degroof Petercam | GBP | 46.966,28 | 0,02% |
| Banque Degroof Petercam | EUR | 4.823.374,57 | 2,11% |
| Total - Avoirs bancaires à vue |  | 4.870.540,00 | 2,13% |
| Total - Dépôts et Liquidités |  | 4.870.540,00 | 2,13% |
| Créances et dettes diverses |  | 332.092,37 | 0,15% |
| Autres |  | 0,00 | 0,00% |
| Actif Net Total |  | 228.341.110,21 | 100,00% |

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