# UBS (Lux) Strategy SICAV
– Systematic Allocation Portfolio Dynamic (USD)
| Most important figures |  |
| --- | --- |
|  | ISIN | 30.11.2022 | 31.5.2022 | 31.5.2021 |
| Net assets in USD |  | 354 018 277.42 | 429 108 307.05 | 431 225 866.64 |
| Class K-1-acc | LU1622991310 |  |  |  |
| Shares outstanding |  | 8.0000 | 8.2000 | 4.3000 |
| Net asset value per share in USD |  | 5 564 562.42 | 5 877 344.78 | 6 548 789.85 |
| Issue and redemption price per share in USD 1 |  | 5 564 562.42 | 5 877 344.78 | 6 548 789.85 |
| Class (EUR hedged) K-1-acc | LU1622991401 |  |  |  |
| Shares outstanding |  | 5.4000 | 6.7000 | 5.7000 |
| Net asset value per share in EUR |  | 2 945 057.44 | 3 151 797.42 | 3 557 005.65 |
| Issue and redemption price per share in EUR 1 |  | 2 945 057.44 | 3 151 797.42 | 3 557 005.65 |
| Class P-4%-mdist | LU1599188155 |  |  |  |
| Shares outstanding |  | 114 043.1710 | 124 694.4350 | 121 384.2470 |
| Net asset value per share in USD |  | 87.96 | 95.00 | 110.73 |
| Issue and redemption price per share in USD 1 |  | 87.96 | 95.00 | 110.73 |
| Class P-acc | LU1599187934 |  |  |  |
| Shares outstanding |  | 1 237 882.7870 | 1 353 350.1370 | 1 038 007.6140 |
| Net asset value per share in USD |  | 108.90 | 115.33 | 129.19 |
| Issue and redemption price per share in USD 1 |  | 108.90 | 115.33 | 129.19 |
| Class (CHF hedged) P-acc | LU1599188239 |  |  |  |
| Shares outstanding |  | 331 081.5850 | 350 103.5970 | 363 474.2580 |
| Net asset value per share in CHF |  | 95.31 | 102.61 | 116.52 |
| Issue and redemption price per share in CHF 1 |  | 95.31 | 102.61 | 116.52 |
| Class (EUR hedged) P-acc | LU1599188403 |  |  |  |
| Shares outstanding |  | 222 150.3780 | 255 356.9080 | 295 533.6770 |
| Net asset value per share in EUR |  | 97.30 | 104.42 | 118.49 |
| Issue and redemption price per share in EUR 1 |  | 97.30 | 104.42 | 118.49 |
| Class (GBP hedged) P-acc | LU1616912678 |  |  |  |
| Shares outstanding |  | 19 071.9720 | 19 153.9720 | 21 354.7090 |
| Net asset value per share in GBP |  | 101.78 | 108.39 | 122.08 |
| Issue and redemption price per share in GBP 1 |  | 101.78 | 108.39 | 122.08 |
| Class (SGD hedged) P-acc | LU1599188668 |  |  |  |
| Shares outstanding |  | 64 486.0180 | 79 163.8180 | 89 682.4880 |
| Net asset value per share in SGD |  | 106.24 | 112.73 | 126.36 |
| Issue and redemption price per share in SGD 1 |  | 106.24 | 112.73 | 126.36 |
| Class Q-4%-mdist | LU1898250995 |  |  |  |
| Shares outstanding |  | 63 881.1610 | 71 243.3790 | 25 180.7630 |
| Net asset value per share in USD |  | 91.61 | 98.51 | 113.83 |
| Issue and redemption price per share in USD 1 |  | 91.61 | 98.51 | 113.83 |
| Class Q-acc | LU1599188072 |  |  |  |
| Shares outstanding |  | 400 357.2680 | 485 775.2180 | 435 177.9180 |
| Net asset value per share in USD |  | 114.17 | 120.39 | 133.70 |
| Issue and redemption price per share in USD 1 |  | 114.17 | 120.39 | 133.70 |
| Class (CHF hedged) Q-acc | LU1599188312 |  |  |  |
| Shares outstanding |  | 175 093.4060 | 202 987.3870 | 230 105.8310 |
| Net asset value per share in CHF |  | 99.93 | 107.13 | 120.61 |
| Issue and redemption price per share in CHF 1 |  | 99.93 | 107.13 | 120.61 |
| Class (EUR hedged) Q-acc | LU1599188585 |  |  |  |
| Shares outstanding |  | 132 392.8990 | 214 309.5910 | 220 527.6740 |
| Net asset value per share in EUR |  | 102.02 | 109.01 | 122.64 |
| Issue and redemption price per share in EUR 1 |  | 102.02 | 109.01 | 122.64 |
| Class (GBP hedged) Q-acc | LU1616912751 |  |  |  |
| Shares outstanding |  | 14 124.8660 | 14 139.6770 | 20 259.6150 |
| Net asset value per share in GBP |  | 104.76 | 111.08 | 124.04 |
| Issue and redemption price per share in GBP 1 |  | 104.76 | 111.08 | 124.04 |
| 1  See note 1 |  |  |  |  |

UBS (Lux) Strategy SICAV – Systematic Allocation Portfolio Dynamic (USD)
Semi-Annual Report as of 30 November 2022
UBS (Lux) Strategy SICAV – Systematic Allocation Portfolio Dynamic (USD) Semi-Annual Report as of 30 November 2022

## Structure of the Securities Portfolio
Geographical Breakdown as a % of net assets	
| Ireland | 44.81 |
| --- | --- |
| Luxembourg | 30.04 |
| United States | 3.35 |
| Japan | 3.34 |
| United Kingdom | 2.45 |
| Canada | 1.94 |
| France | 1.76 |
| Switzerland | 1.64 |
| Germany | 1.24 |
| Australia | 1.23 |
| The Netherlands | 0.97 |
| Sweden | 0.48 |
| Denmark | 0.43 |
| Hong Kong | 0.42 |
| Spain | 0.38 |
| Italy | 0.30 |
| Singapore | 0.23 |
| Finland | 0.19 |
| Belgium | 0.13 |
| Norway | 0.12 |
| Israel | 0.12 |
| New Zealand | 0.04 |
| Austria | 0.03 |
| Portugal | 0.03 |
| Isle of Man | 0.01 |
| Macau | 0.01 |
| Total | 95.69 |

Economic Breakdown as a % of net assets	
| Investment funds | 70.68 |
| --- | --- |
| Finance & holding companies | 5.35 |
| Countries & central governments | 3.34 |
| Banks & credit institutions | 2.32 |
| Pharmaceuticals, cosmetics & medical products | 1.70 |
| Petroleum | 1.03 |
| Electronics & semiconductors | 1.03 |
| Insurance | 0.79 |
| Energy & water supply | 0.69 |
| Food & soft drinks | 0.67 |
| Vehicles | 0.65 |
| Internet, software & IT services | 0.65 |
| Telecommunications | 0.57 |
| Chemicals | 0.56 |
| Traffic & transportation | 0.52 |
| Tobacco & alcohol | 0.44 |
| Mechanical engineering & industrial equipment | 0.44 |
| Real Estate | 0.42 |
| Textiles, garments & leather goods | 0.35 |
| Building industry & materials | 0.34 |
| Retail trade, department stores | 0.34 |
| Mining, coal & steel | 0.32 |
| Electrical devices & components | 0.30 |
| Miscellaneous trading companies | 0.24 |
| Graphic design, publishing & media | 0.22 |
| Miscellaneous services | 0.21 |
| Non-ferrous metals | 0.19 |
| Aerospace industry | 0.18 |
| Biotechnology | 0.17 |
| Precious metals & stones | 0.14 |
| Lodging, catering & leisure | 0.12 |
| Various capital goods | 0.11 |
| Miscellaneous consumer goods | 0.11 |
| Watches & jewellery | 0.09 |
| Forestry, paper & pulp products | 0.08 |
| Agriculture & fishery | 0.06 |
| Computer hardware & network equipment providers | 0.06 |
| Miscellaneous unclassified companies | 0.06 |
| Rubber & tyres | 0.05 |
| Healthcare & social services | 0.04 |
| Photographic & optics | 0.03 |
| Packaging industry | 0.02 |
| Environmental services & recycling | 0.01 |
| Total | 95.69 |


## Statement of Net Assets
Assets	30.11.2022
USD
Investments in securities, cost	315 238 412.48
| Investments in securities, unrealized appreciation (depreciation) | 	23 508 532.43	 |
| --- | --- |
| Total investments in securities (Note 1) | 338 746 944.91 |
| Cash at banks, deposits on demand and deposit accounts | 16 653 049.87 |
| Other liquid assets (Margins) | 1 765 049.39 |
| Receivable on securities sales (Note 1) | 168 425.80 |
| Receivable on subscriptions | 46 264.81 |
| Receivable on dividends | 177 867.88 |
| Other receivables | 161 954.58 |
| Unrealized gain on financial futures (Note 1) | 200 064.98 |
| Unrealized gain on Swaps (Note 1) | 392 242.08 |
| Total Assets | 358 311 864.30 |
|  |  |
| Liabilities |  |
| Unrealized loss on forward foreign exchange contracts (Note 1) | -3 610 282.77 |
| Payable on securities purchases (Note 1) | -130 724.73 |
| Payable on redemptions | -54 308.11 |
| Provisions for flat fee (Note 2) | -404 831.95 |
| Provisions for taxe d’abonnement (Note 3) | -20 545.71 |
| Provisions for other commissions and fees (Note 2) | 	-72 893.61	 |
| Total provisions | -498 271.27 |
| Total Liabilities | -4 293 586.88 |
|  |  |
| Net assets at the end of the period | 354 018 277.42 |
| Statement of Operations | USD |
| Income | 1.6.2022-30.11.2022 |
| Interest on liquid assets | 90 233.92 |
| Dividends | 809 430.04 |
| Net income on securities lending (Note 10) | 15 319.43 |
| Other income (Note 4) | 43 047.36 |
| Total income | 958 030.75 |
|  |  |
| Expenses |  |
| Flat fee (Note 2) | -2 647 966.36 |
| Taxe d’abonnement (Note 3) | -61 194.11 |
| Other commissions and fees (Note 2) | -55 048.38 |
| Interest on cash and bank overdraft | -9 062.22 |
| Total expenses | -2 773 271.07 |
|  |  |
| Net income (loss) on investments | -1 815 240.32 |
|  |  |
| Realized gain (loss) (Note 1) |  |
| Realized gain (loss) on market-priced securities without options | 1 786 613.85 |
| Realized gain (loss) on yield-evaluated securities and money market instruments | 45 607.63 |
| Realized gain (loss) on financial futures | -17 626 397.18 |
| Realized gain (loss) on forward foreign exchange contracts | 2 401 692.37 |
| Realized gain (loss) on swaps | -1 113 043.85 |
| Realized gain (loss) on foreign exchange | 3 979 891.03 |
| Total realized gain (loss) | -10 525 636.15 |
|  |  |
| Net realized gain (loss) of the period | -12 340 876.47 |
|  |  |
| Changes in unrealized appreciation (depreciation) (Note 1) |  |
| Unrealized appreciation (depreciation) on market-priced securities without options | -17 747 806.58 |
| Unrealized appreciation (depreciation) on yield-evaluated securities and money market instruments | 472.98 |
| Unrealized appreciation (depreciation) on financial futures | 7 698 868.23 |
| Unrealized appreciation (depreciation) on forward foreign exchange contracts | -5 986 671.32 |
| Unrealized appreciation (depreciation) on swaps | 268 569.01 |
| Total changes in unrealized appreciation (depreciation) | -15 766 567.68 |
|  |  |
| Net increase (decrease) in net assets as a result of operations | -28 107 444.15 |

UBS (Lux) Strategy SICAV – Systematic Allocation Portfolio Dynamic (USD)
Semi-Annual Report as of 30 November 2022
| Statement of Changes in Net Assets |  |
| --- | --- |
|  | USD |
|  | 1.6.2022-30.11.2022 |
| Net assets at the beginning of the period | 429 108 307.05 |
| Subscriptions | 2 486 757.36 |
| Redemptions | 	-49 130 342.67	 |
| Total net subscriptions (redemptions) | -46 643 585.31 |
| Dividend paid | -339 000.17 |
| Net income (loss) on investments | -1 815 240.32 |
| Total realized gain (loss) | -10 525 636.15 |
| Total changes in unrealized appreciation (depreciation) | 	-15 766 567.68	 |
| Net increase (decrease) in net assets as a result of operations | -28 107 444.15 |
| Net assets at the end of the period | 354 018 277.42 |
| Changes in the Number of Shares outstanding |  |
|  | 1.6.2022-30.11.2022 |
| Class | K-1-acc |
| Number of shares outstanding at the beginning of the period | 8.2000 |
| Number of shares issued | 0.0000 |
| Number of shares redeemed | -0.2000 |
| Number of shares outstanding at the end of the period | 8.0000 |
| Class | (EUR hedged) K-1-acc |
| Number of shares outstanding at the beginning of the period | 6.7000 |
| Number of shares issued | 0.0000 |
| Number of shares redeemed | -1.3000 |
| Number of shares outstanding at the end of the period | 5.4000 |
| Class | P-4%-mdist |
| Number of shares outstanding at the beginning of the period | 124 694.4350 |
| Number of shares issued | 0.0000 |
| Number of shares redeemed | -10 651.2640 |
| Number of shares outstanding at the end of the period | 114 043.1710 |
| Class | P-acc |
| Number of shares outstanding at the beginning of the period | 1 353 350.1370 |
| Number of shares issued | 1 994.7090 |
| Number of shares redeemed | -117 462.0590 |
| Number of shares outstanding at the end of the period | 1 237 882.7870 |
| Class | (CHF hedged) P-acc |
| Number of shares outstanding at the beginning of the period | 350 103.5970 |
| Number of shares issued | 7 881.4820 |
| Number of shares redeemed | -26 903.4940 |
| Number of shares outstanding at the end of the period | 331 081.5850 |
| Class | (EUR hedged) P-acc |
| Number of shares outstanding at the beginning of the period | 255 356.9080 |
| Number of shares issued | 3 570.6060 |
| Number of shares redeemed | -36 777.1360 |
| Number of shares outstanding at the end of the period | 222 150.3780 |
| Class | (GBP hedged) P-acc |
| Number of shares outstanding at the beginning of the period | 19 153.9720 |
| Number of shares issued | 0.0000 |
| Number of shares redeemed | -82.0000 |
| Number of shares outstanding at the end of the period | 19 071.9720 |
| Class | (SGD hedged) P-acc |
| Number of shares outstanding at the beginning of the period | 79 163.8180 |
| Number of shares issued | 0.0000 |
| Number of shares redeemed | -14 677.8000 |
| Number of shares outstanding at the end of the period | 64 486.0180 |
| Class | Q-4%-mdist |
| Number of shares outstanding at the beginning of the period | 71 243.3790 |
| Number of shares issued | 0.0000 |
| Number of shares redeemed | -7 362.2180 |
| Number of shares outstanding at the end of the period | 63 881.1610 |
| Class | Q-acc |
| Number of shares outstanding at the beginning of the period | 485 775.2180 |
| Number of shares issued | 5 659.2340 |
| Number of shares redeemed | -91 077.1840 |
| Number of shares outstanding at the end of the period | 400 357.2680 |
| Class | (CHF hedged) Q-acc |
| Number of shares outstanding at the beginning of the period | 202 987.3870 |
| Number of shares issued | 3 034.8110 |
| Number of shares redeemed | -30 928.7920 |
| Number of shares outstanding at the end of the period | 175 093.4060 |

UBS (Lux) Strategy SICAV – Systematic Allocation Portfolio Dynamic (USD) Semi-Annual Report as of 30 November 2022
| Class |  |  |  | (EUR hedged) Q-acc |
| --- | --- | --- | --- | --- |
| Number of shares outstanding at the beginning of the period |  |  |  | 214 309.5910 |
| Number of shares issued |  |  |  | 990.1050 |
| Number of shares redeemed |  |  |  | -82 906.7970 |
| Number of shares outstanding at the end of the period |  |  |  | 132 392.8990 |
| Class |  |  |  | (GBP hedged) Q-acc |
| Number of shares outstanding at the beginning of the period |  |  |  | 14 139.6770 |
| Number of shares issued |  |  |  | 0.0000 |
| Number of shares redeemed |  |  |  | -14.8110 |
| Number of shares outstanding at the end of the period |  |  |  | 14 124.8660 |
| Monthly Distribution 1 |  |  |  |  |
| UBS (Lux) Strategy SICAV – Systematic Allocation Portfolio Dynamic (USD) | Ex-Date | Pay-Date | Currency | Amount per share |
| P-4%-mdist | 10.6.2022 | 15.6.2022 | USD | 0.31 |
| P-4%-mdist | 11.7.2022 | 14.7.2022 | USD | 0.30 |
| P-4%-mdist | 10.8.2022 | 15.8.2022 | USD | 0.31 |
| P-4%-mdist | 13.9.2022 | 16.9.2022 | USD | 0.30 |
| P-4%-mdist | 11.10.2022 | 14.10.2022 | USD | 0.28 |
| P-4%-mdist | 10.11.2022 | 15.11.2022 | USD | 0.28 |
| Q-4%-mdist | 10.6.2022 | 15.6.2022 | USD | 0.32 |
| Q-4%-mdist | 11.7.2022 | 14.7.2022 | USD | 0.31 |
| Q-4%-mdist | 10.8.2022 | 15.8.2022 | USD | 0.32 |
| Q-4%-mdist | 13.9.2022 | 16.9.2022 | USD | 0.31 |
| Q-4%-mdist | 11.10.2022 | 14.10.2022 | USD | 0.29 |
| Q-4%-mdist | 10.11.2022 | 15.11.2022 | USD | 0.29 |
| 1  See note 5 |  |  |  |  |

UBS (Lux) Strategy SICAV – Systematic Allocation Portfolio Dynamic (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 |  |  |  |
| Equities |  |  |  |
| Australia |  |  |  |
| AUD	AMPOL LTD NPV | 837.00 | 16 025.81 | 0.00 |
| AUD	APA GROUP NPV | 4 852.00 | 36 360.61 | 0.01 |
| AUD	ARISTOCRAT LEISURE NPV | 2 232.00 | 52 361.81 | 0.02 |
| AUD	ASX LTD NPV | 644.00 | 30 392.78 | 0.01 |
| AUD	AURIZON HOLDINGS NPV | 7 861.00 | 20 057.79 | 0.01 |
| AUD	AUST & NZ BANK GRP NPV | 11 274.00 | 186 791.89 | 0.05 |
| AUD	BHP GROUP LTD NPV | 12 405.00 | 378 163.25 | 0.11 |
| GBP	BHP GROUP LTD NPV | 6 787.00 | 209 138.27 | 0.06 |
| AUD	BLUESCOPE STEEL NPV | 1 415.00 | 16 611.88 | 0.00 |
| AUD	BRAMBLES LTD NPV | 6 421.00 | 52 074.74 | 0.01 |
| AUD	CMNWLTH BK OF AUST NPV | 6 471.00 | 467 425.19 | 0.13 |
| AUD	COCHLEAR LTD NPV | 233.00 | 33 398.82 | 0.01 |
| AUD	COLES GROUP LTD NPV | 5 005.00 | 56 813.83 | 0.02 |
| AUD	COMPUTERSHARE LTD NPV(POST REC) | 1 992.00 | 37 139.74 | 0.01 |
| AUD	CSL NPV | 1 822.00 | 366 192.24 | 0.10 |
| AUD	DEXUS NPV (STAPLED) | 4 388.00 | 23 509.15 | 0.01 |
| AUD	ENDEAVOUR GROUP LI NPV | 5 329.00 | 24 874.75 | 0.01 |
| AUD	FORTESCUE METALS G NPV | 6 410.00 | 83 194.02 | 0.02 |
| AUD	GOODMAN GROUP (STAPLED SECURITY) | 6 200.00 | 79 388.92 | 0.02 |
| AUD	GPT GROUP NPV (STAPLED SECURITIES) | 10 037.00 | 30 113.57 | 0.01 |
| AUD	IDP EDUCATION LTD NPV | 760.00 | 15 162.28 | 0.00 |
| AUD	IGO LTD NPV | 2 606.00 | 26 876.67 | 0.01 |
| AUD	INSURANCE AUST GRP NPV | 10 088.00 | 32 293.36 | 0.01 |
| AUD	LEND LEASE GROUP NPV | 2 465.00 | 12 562.67 | 0.00 |
| AUD	MACQUARIE GP LTD NPV | 1 423.00 | 170 307.61 | 0.05 |
| AUD	MEDIBANK PRIVATE L NPV | 12 345.00 | 24 223.62 | 0.01 |
| AUD	MINERAL RESS LTD NPV | 626.00 | 36 649.28 | 0.01 |
| AUD	MIRVAC GROUP STAPLED SECURITIES | 21 346.00 | 31 878.78 | 0.01 |
| AUD	NATL AUSTRALIA BK NPV | 12 164.00 | 256 932.12 | 0.07 |
| AUD	NEWCREST MINING NPV | 3 242.00 | 43 010.83 | 0.01 |
| AUD	NTHN STAR RES LTD NPV | 4 496.00 | 31 916.29 | 0.01 |
| AUD	ORICA LIMITED NPV | 1 996.00 | 19 823.58 | 0.01 |
| AUD	ORIGIN ENERGY NPV | 6 866.00 | 36 141.54 | 0.01 |
| AUD	PILBARA MINERALS L NPV | 9 581.00 | 29 900.40 | 0.01 |
| AUD	QANTAS AIRWAYS NPV | 3 411.00 | 14 254.32 | 0.00 |
| AUD	QBE INS GROUP NPV | 5 364.00 | 46 232.53 | 0.01 |
| AUD	RAMSAY HEALTH CARE NPV | 720.00 | 31 732.53 | 0.01 |
| AUD	REA GROUP LIMITED NPV | 172.00 | 14 203.88 | 0.00 |
| AUD	REECE AUSTRALIA NPV | 1 160.00 | 11 916.91 | 0.00 |
| AUD	RIO TINTO LIMITED NPV | 1 370.00 | 100 575.14 | 0.03 |
| AUD	SANTOS LIMITED NPV | 12 246.07 | 60 688.82 | 0.02 |
| AUD	SCENTRE GROUP NPV STAPLED UNIT | 22 336.00 | 44 426.51 | 0.01 |
| AUD	SEEK LIMITED NPV | 1 150.00 | 17 005.02 | 0.01 |
| AUD	SONIC HEALTHCARE NPV | 1 575.00 | 34 048.22 | 0.01 |
| AUD	SOUL PATTINSON(WH) NPV | 765.00 | 14 503.79 | 0.00 |
| AUD	SOUTH32 LTD NPV | 18 565.00 | 49 980.58 | 0.01 |
| AUD	STOCKLAND NPV (STAPLED) | 9 530.00 | 24 252.52 | 0.01 |
| AUD	SUNCORP GROUP LTD NPV | 4 497.00 | 35 898.76 | 0.01 |
| AUD	TELSTRA GROUP LTD NPV | 19 872.00 | 52 966.95 | 0.01 |
| AUD	THE LOTTERY CORPOR NPV | 9 353.00 | 28 875.68 | 0.01 |
| AUD	TRANSURBAN GROUP STAPLED UNITS NPV | 11 551.00 | 110 543.22 | 0.03 |
| AUD	TREASURY WINE ESTA NPV | 2 656.00 | 24 546.38 | 0.01 |
| AUD	VICINITY CENTRES NPV (STAPLED SECURITY) | 15 454.00 | 21 009.57 | 0.01 |
| AUD	WESFARMERS LTD NPV | 4 240.00 | 137 915.87 | 0.04 |
| AUD	WESTPAC BKG CORP NPV | 13 267.00 | 211 194.31 | 0.06 |
| AUD	WISETECH GLOBAL LT NPV | 524.00 | 19 999.09 | 0.01 |
| AUD	WOODSIDE ENERGY GROUP LTD | 5 958.00 | 148 789.81 | 0.04 |
| GBP	WOODSIDE ENERGY GROUP LTD | 1 226.00 | 30 514.91 | 0.01 |
| AUD	WOOLWORTHS GRP LTD NPV | 4 532.00 | 104 619.22 | 0.03 |
| Total Australia |  | 4 358 402.63 | 1.23 |
| Austria |  |  |  |
| EUR	ERSTE GROUP BK AG NPV | 1 269.00 | 38 676.13 | 0.01 |
| EUR	OMV AG NPV(VAR) | 579.00 | 29 903.75 | 0.01 |
| EUR	VERBUND AG CLASS’A’NPV | 265.00 | 23 479.37 | 0.01 |
| EUR	VOESTALPINE AG NPV | 579.00 | 15 476.50 | 0.00 |
| Total Austria |  | 107 535.75 | 0.03 |
| Belgium |  |  |  |
| EUR	AGEAS NPV | 579.00 | 22 934.56 | 0.01 |
| EUR	ANHEUSER-BUSCH IN NPV | 3 296.00 | 190 218.36 | 0.05 |
| EUR	ELIA SYS OPERATOR NPV | 169.00 | 23 665.48 | 0.01 |
| EUR	GPE BRUXELLES LAM NPV | 355.00 | 28 006.58 | 0.01 |
| EUR	KBC GROUP NV NPV | 945.00 | 51 317.04 | 0.01 |
| EUR	SA D’IETEREN NV NPV | 89.00 | 16 559.14 | 0.01 |
| EUR	SOFINA NPV | 63.00 | 13 336.85 | 0.00 |
| EUR	SOLVAY SA NPV | 278.00 | 26 872.46 | 0.01 |
| EUR	UCB NPV | 543.00 | 42 927.69 | 0.01 |
| EUR	UMICORE NPV | 789.00 | 27 783.87 | 0.01 |
| EUR	WAREHOUSES DE PAUW NPV (POST SPLIT) | 444.00 | 11 566.26 | 0.00 |
| Total Belgium |  | 455 188.29 | 0.13 |
| Canada |  |  |  |
| CAD	1ST QUANTUM MINLS COM NPV | 2 219.00 | 52 344.63 | 0.01 |
| CAD	AGNICO EAGLE MINES LTD COM | 1 680.00 | 83 956.63 | 0.02 |

UBS (Lux) Strategy SICAV – Systematic Allocation Portfolio Dynamic (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) |  |
|  |  |  |  |  |
| CAD | AIR CANADA VAR VTG SHS NPV | 592.00 | 8 423.46 | 0.00 |
| CAD | ALGONQUIN PWR&UTIL COM NPV | 2 800.00 | 20 983.99 | 0.01 |
| CAD | ALIMENTATION COUCH COM NPV | 3 188.00 | 144 103.15 | 0.04 |
| CAD | ALTAGAS LTD COM NPV | 1 001.00 | 16 664.87 | 0.00 |
| CAD | ARC RESOURCES COM NPV | 2 739.00 | 40 366.76 | 0.01 |
| CAD | BANK NOVA SCOTIA HALIFAX COM | 4 530.00 | 234 502.77 | 0.07 |
| CAD | BANK OF MONTREAL COM NPV | 2 550.00 | 247 118.83 | 0.07 |
| CAD | BARRICK GOLD CORP COM NPV | 6 733.00 | 109 013.31 | 0.03 |
| CAD | BCE INC COM NEW | 247.00 | 11 671.33 | 0.00 |
| CAD | BLACKBERRY LTD NPV | 1 425.00 | 6 853.29 | 0.00 |
| CAD | BROOKFIELD ASSET M LTD VTG SHS NPV CL’A’ | 5 352.50 | 250 391.35 | 0.07 |
| CAD | BRP INC SUB VTG NPV | 92.00 | 6 830.95 | 0.00 |
| CAD | CAE INC COM NPV | 1 328.00 | 28 495.63 | 0.01 |
| CAD | CAMECO CORP COM | 1 635.00 | 39 521.24 | 0.01 |
| CAD | CAN PACIFIC RYS COM NPV | 3 520.00 | 285 946.45 | 0.08 |
| CAD | CANADIAN NAT RES LTD COM | 4 386.00 | 259 821.24 | 0.07 |
| CAD | CANADIAN NATL RY CO COM | 2 226.00 | 283 549.41 | 0.08 |
| CAD | CANADIAN TIRE LTD CL A | 230.00 | 25 845.10 | 0.01 |
| CAD | CANADIAN UTILS LTD CL A | 555.00 | 15 061.19 | 0.00 |
| CAD | CCL INDUSTRIES INC ‘B’NON-VTG COM NPV | 611.00 | 28 817.10 | 0.01 |
| CAD | CDN IMPERIAL BK OF COMMERCE COM | 3 417.00 | 163 301.19 | 0.05 |
| CAD | CENOVUS ENERGY INC COM NPV | 5 264.00 | 103 866.64 | 0.03 |
| CAD | CGI INC COM NPV SUB VOTING SHARES C | 813.00 | 70 427.62 | 0.02 |
| CAD | CONSTELLATION SOFT COM STK NPV | 80.00 | 127 964.59 | 0.04 |
| CAD | DOLLARAMA INC COM NPV | 1 050.00 | 63 765.21 | 0.02 |
| CAD | ELEMENT FLEET MGMT COM NPV | 440.00 | 6 186.03 | 0.00 |
| CAD | EMERA INC COM | 960.00 | 37 084.31 | 0.01 |
| CAD | EMPIRE LTD CL A | 601.00 | 16 238.57 | 0.00 |
| CAD | ENBRIDGE INC COM NPV | 7 716.00 | 316 164.20 | 0.09 |
| CAD | FAIRFAX FINL HLDGS SUB-VTG COM NPV | 94.00 | 53 512.81 | 0.01 |
| CAD | FIRSTSERVICE CORP COM NPV | 200.00 | 25 709.23 | 0.01 |
| CAD | FORTIS INC COM NPV | 1 703.00 | 68 009.46 | 0.02 |
| CAD | FRANCO NEVADA CORP COM NPV | 717.00 | 103 919.25 | 0.03 |
| CAD | GFL ENVIRON INC COM NPV SUB VTG SHS | 700.00 | 20 137.20 | 0.01 |
| CAD | GILDAN ACTIVEWEAR INC COM | 659.00 | 18 933.43 | 0.01 |
| CAD | GREAT WEST LIFECO INC COM | 1 055.00 | 24 964.52 | 0.01 |
| CAD | HYDRO ONE INC COM NPV | 1 127.00 | 31 273.69 | 0.01 |
| CAD | IA FINANCIAL CORP COM NPV | 411.00 | 23 007.15 | 0.01 |
| CAD | IGM FINANCIAL INC COM | 362.00 | 10 421.82 | 0.00 |
| CAD | IMPERIAL OIL LTD COM NEW | 882.00 | 49 789.38 | 0.01 |
| CAD | INTACT FINL CORP COM NPV | 671.00 | 99 613.09 | 0.03 |
| CAD | IVANHOE MINES LTD COM NPV CL’A’ | 2 500.00 | 22 202.55 | 0.01 |
| CAD | KEYERA CORPORATION COM NPV | 774.00 | 17 892.72 | 0.00 |
| CAD | KINROSS GOLD CORP COM NPV | 5 974.00 | 24 500.58 | 0.01 |
| CAD | LIGHTSPEED COMMERC COM NPV SUB VTG SHS | 500.00 | 8 139.71 | 0.00 |
| CAD | LOBLAW COS LTD COM | 668.00 | 59 817.95 | 0.02 |
| CAD | LUNDIN MINING CORP COM | 2 587.00 | 15 800.22 | 0.00 |
| CAD | MAGNA INTL INC COM NPV | 1 069.00 | 65 313.32 | 0.02 |
| CAD | MANULIFE FINL CORP COM | 7 356.00 | 131 471.48 | 0.04 |
| CAD | METRO INC CL A SUB | 903.00 | 51 527.68 | 0.01 |
| CAD | NATL BK OF CANADA COM NPV | 1 289.00 | 91 210.28 | 0.03 |
| CAD | NORTHLAND POWER IN COM NPV | 845.16 | 23 752.12 | 0.01 |
| CAD | NUTRIEN LTD NPV | 2 105.00 | 167 862.76 | 0.05 |
| CAD | NUVEI CORPORATION SUB VOTING SHARES (CAD) | 300.00 | 9 174.60 | 0.00 |
| CAD | ONEX CORP SUB VTG | 273.00 | 14 275.26 | 0.00 |
| CAD | OPEN TEXT CO COM NPV | 915.00 | 26 659.66 | 0.01 |
| CAD | PAN AMER SILVER COM NPV | 896.00 | 14 599.57 | 0.00 |
| CAD | PARKLAND CORP. COM NPV | 700.00 | 14 798.26 | 0.00 |
| CAD | PEMBINA PIPELINE C COM NPV | 2 096.00 | 75 927.24 | 0.02 |
| CAD | POWER CORP CDA COM | 2 112.00 | 52 718.21 | 0.01 |
| CAD | QUEBECOR INC CL B | 566.00 | 12 103.22 | 0.00 |
| CAD | RESTAURANT BRANDS COM NPV | 1 096.00 | 72 217.81 | 0.02 |
| CAD | RITCHIE BROS AUCTIONEERS COM | 352.00 | 19 148.78 | 0.01 |
| CAD | ROGERS COMMS INC CLASS’B’COM CAD1.62478 | 1 335.00 | 60 935.16 | 0.02 |
| CAD | ROYAL BK OF CANADA COM NPV | 5 389.00 | 531 784.63 | 0.15 |
| CAD | SAPUTO INC COM | 966.00 | 23 799.07 | 0.01 |
| CAD | SHAW COMMUNICATIONS INC CL B CONV | 1 729.00 | 46 818.32 | 0.01 |
| CAD | SHOPIFY INC COM NPV CL A | 4 292.00 | 174 947.20 | 0.05 |
| CAD | SUN LIFE FINL INC COM | 2 197.00 | 103 294.81 | 0.03 |
| CAD | SUNCOR ENERGY INC COM NPV ‘NEW’ | 5 447.00 | 177 709.53 | 0.05 |
| CAD | TC ENERGY CORPORAT COM NPV | 3 723.00 | 163 672.49 | 0.05 |
| CAD | TECK RESOURCES LTD CLASS’B’SUB-VTG COM NPV | 1 776.00 | 65 317.81 | 0.02 |
| CAD | TELUS CORPORATION NPV | 1 721.00 | 36 357.19 | 0.01 |
| CAD | TFI INTERNATIONAL COM NPV | 305.00 | 32 846.50 | 0.01 |
| CAD | THOMSON-REUTERS CP COM NPV(POST REV SPLIT) | 634.00 | 74 071.89 | 0.02 |
| CAD | TMX GROUP LTD COM NPV | 267.00 | 27 777.30 | 0.01 |
| CAD | TOROMONT INDS LTD COM | 300.00 | 22 655.45 | 0.01 |
| CAD | TORONTO-DOMINION COM NPV | 6 904.00 | 455 937.98 | 0.13 |
| CAD | TOURMALINE OIL CP COM NPV | 1 210.00 | 73 071.25 | 0.02 |
| CAD | WEST FRASER TIMBER COM NPV | 221.00 | 17 152.48 | 0.00 |
| CAD | WESTON GEORGE LTD COM | 288.00 | 35 784.91 | 0.01 |
| CAD | WHEATON PRECIOUS M COM NPV | 1 601.00 | 61 999.34 | 0.02 |
| CAD | WSP GLOBAL INC COM NPV | 480.00 | 57 127.69 | 0.02 |
| Total Canada | 6 868 747.05 | 1.94 |
| China |  |  |  |  |
| USD | FUTU HOLDINGS LIMI SPON ADS EA REP 8 ORD SHS | 200.00 | 12 298.00 | 0.00 |
| Total China | 12 298.00 | 0.00 |
| Denmark |  |  |  |  |
| DKK | A.P. MOELLER-MAERSK SER’B’DKK1000 | 18.00 | 38 249.10 | 0.01 |
| DKK | A.P. MOLLER-MAERSK ‘A’DKK1000 | 14.00 | 29 129.12 | 0.01 |
| DKK | CARLSBERG SER’B’DKK20 | 367.00 | 45 389.18 | 0.01 |
| DKK | CHR. HANSEN HLDG DKK10 | 392.00 | 23 692.46 | 0.01 |

UBS (Lux) Strategy SICAV – Systematic Allocation Portfolio Dynamic (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) |  |
|  |  |  |  |  |
| DKK | COLOPLAST DKK1 B | 459.00 | 52 967.65 | 0.02 |
| DKK | DANSKE BANK A/S DKK10 | 2 462.00 | 43 454.88 | 0.01 |
| DKK | DEMANT A/S DKK0.20 | 289.00 | 8 001.44 | 0.00 |
| DKK | DSV PANALPINA A/S DKK1 | 708.00 | 109 673.99 | 0.03 |
| DKK | GENMAB AS DKK1 | 248.00 | 112 229.47 | 0.03 |
| DKK | GN STORE NORD DKK4 | 505.00 | 11 807.59 | 0.00 |
| DKK | NOVO-NORDISK AS DKK0.2 SER’B’ | 6 347.00 | 776 713.87 | 0.22 |
| DKK | NOVOZYMES A/S SER’B’DKK2 (POST CONS) | 760.00 | 43 177.87 | 0.01 |
| DKK | ORSTED A/S DKK10 | 706.00 | 60 643.85 | 0.02 |
| DKK | PANDORA A/S DKK1 | 402.00 | 29 361.02 | 0.01 |
| DKK | ROCKWOOL INTL SER’B’DKK10 | 34.00 | 7 293.08 | 0.00 |
| DKK | TRYG A/S DKK5 | 1 230.00 | 28 180.16 | 0.01 |
| DKK | VESTAS WIND SYSTEM DKK0.20 (POST SPLIT) | 3 817.00 | 94 826.59 | 0.03 |
| Total Denmark	1 514 791.32	0.43 |
| Finland |  |  |  |  |
| EUR | ELISA OYJ NPV | 473.00 | 24 234.34 | 0.00 |
| EUR | FORTUM OYJ EUR3.40 | 1 874.00 | 29 358.32 | 0.01 |
| EUR | KESKO OYJ EUR2 SER’B’ | 1 155.00 | 24 367.65 | 0.01 |
| EUR | KONE CORPORATION NPV ORD ‘B’ | 1 272.00 | 62 224.55 | 0.02 |
| EUR | NESTE OIL OYJ NPV | 1 603.00 | 81 437.10 | 0.02 |
| EUR | NOKIA OYJ NPV | 20 428.00 | 97 869.76 | 0.03 |
| SEK | NORDEA HOLDING ABP NPV | 12 991.00 | 133 396.58 | 0.04 |
| EUR | ORION CORP SER’B’NPV | 527.00 | 27 532.82 | 0.01 |
| EUR | SAMPO PLC SER’A’NPV | 1 807.00 | 90 312.43 | 0.02 |
| EUR | STORA ENSO OYJ NPV SER’R’ | 2 033.00 | 29 253.57 | 0.01 |
| EUR | UPM-KYMMENE CORP NPV | 2 021.00 | 72 769.87 | 0.02 |
| EUR | WARTSILA OYJ ABP SER’B’EUR3.50 | 1 538.00 | 13 045.71 | 0.00 |
| Total Finland	685 802.70	0.19 |
| France |  |  |  |  |
| EUR | ACCOR EUR3 | 620.00 | 16 100.02 | 0.00 |
| EUR | ADP EUR3 | 143.00 | 21 607.46 | 0.01 |
| EUR | AIR LIQUIDE(L’) EUR5.5 (POST-SUBDIVISION) | 1 987.00 | 282 786.31 | 0.08 |
| EUR | AIRBUS EUR1 | 2 232.00 | 250 961.12 | 0.07 |
| EUR | ALSTOM EUR7.00 | 1 148.00 | 29 385.47 | 0.01 |
| EUR | AMUNDI EUR2.5 (AIW) | 177.00 | 9 750.27 | 0.00 |
| EUR | ARKEMA EUR10 | 198.00 | 17 149.60 | 0.00 |
| EUR | AXA EUR2.29 | 7 145.00 | 198 782.07 | 0.06 |
| EUR | BIOMERIEUX NPV (POST SPLIT) | 153.00 | 15 132.95 | 0.00 |
| EUR | BNP PARIBAS EUR2 | 4 205.00 | 231 334.71 | 0.07 |
| EUR | BOLLORE EUR0.16 | 4 344.00 | 23 974.21 | 0.01 |
| EUR | BOUYGUES EUR1 | 841.00 | 25 597.06 | 0.01 |
| EUR | BUREAU VERITAS EUR0.12 | 993.00 | 25 581.51 | 0.01 |
| EUR | CAPGEMINI EUR8 | 611.00 | 107 578.86 | 0.03 |
| EUR | CARREFOUR EUR2.50 | 2 194.00 | 37 104.93 | 0.01 |
| EUR | CIE DE ST-GOBAIN EUR4 | 1 870.00 | 84 228.61 | 0.02 |
| EUR | COVIVIO EUR3 | 252.00 | 14 348.79 | 0.00 |
| EUR | CREDIT AGRICOLE SA EUR3 | 4 747.00 | 46 971.26 | 0.01 |
| EUR | DANONE EUR0.25 | 2 408.00 | 124 168.21 | 0.04 |
| EUR | DASSAULT AVIATION EUR0.80 (POST SUBDIVISION) | 120.00 | 18 681.97 | 0.01 |
| EUR | DASSAULT SYSTEMES EUR0.10 | 2 485.00 | 89 771.30 | 0.03 |
| EUR | EDENRED EUR2 | 937.00 | 50 631.76 | 0.01 |
| EUR | EDF EUR0.5 | 2 308.00 | 28 517.19 | 0.01 |
| EUR | EIFFAGE EUR4 | 320.00 | 30 952.10 | 0.01 |
| EUR | ENGIE EUR1 | 6 914.00 | 103 367.88 | 0.03 |
| EUR | ESSILORLUXOTTICA EUR0.18 | 1 097.00 | 200 264.97 | 0.06 |
| EUR | EURAZEO NPV | 214.00 | 13 187.65 | 0.00 |
| EUR | GECINA EUR7.50 | 188.00 | 18 050.79 | 0.01 |
| EUR | GETLINK SE EUR0.40 | 1 723.00 | 28 092.67 | 0.01 |
| EUR | HERMES INTL NPV | 120.00 | 190 588.22 | 0.05 |
| EUR | IPSEN EUR1 | 120.00 | 13 245.42 | 0.00 |
| EUR | KERING EUR4 | 282.00 | 164 751.00 | 0.05 |
| EUR | KLEPIERRE EUR1.40 | 905.00 | 20 481.69 | 0.01 |
| EUR | L’OREAL EUR0.20 | 914.00 | 333 902.32 | 0.09 |
| EUR | LA FRANCAISE DES EUR0.40 (PROMESSES) | 423.00 | 16 646.41 | 0.00 |
| EUR | LEGRAND SA EUR4 | 1 002.00 | 79 936.84 | 0.02 |
| EUR | LVMH MOET HENNESSY EUR0.30 | 1 053.00 | 799 396.48 | 0.23 |
| EUR | MICHELIN (CGDE) EUR0.50 (POST SUBDIVISION) | 2 552.00 | 70 224.40 | 0.02 |
| EUR | ORANGE EUR4 | 7 487.00 | 75 301.41 | 0.02 |
| EUR | PERNOD RICARD EUR1.55 | 790.00 | 153 696.37 | 0.04 |
| EUR | PUBLICIS GROUPE SA EUR0.40 | 846.00 | 54 355.64 | 0.02 |
| EUR | REMY COINTREAU EUR1.60 | 113.73 | 19 297.57 | 0.01 |
| EUR | RENAULT SA EUR3.81 | 735.00 | 26 343.96 | 0.01 |
| EUR | SAFRAN EUR0.20 | 1 282.00 | 154 995.73 | 0.04 |
| EUR | SANOFI EUR2 | 4 318.00 | 384 492.56 | 0.11 |
| EUR | SARTORIUS STEDIM B EUR0.20 (POST SUBD) | 118.00 | 39 280.53 | 0.01 |
| EUR | SCHNEIDER ELECTRIC EUR8 | 2 057.00 | 294 231.18 | 0.08 |
| EUR | SEB SA EUR1 | 130.00 | 10 065.86 | 0.00 |
| EUR | SOC GENERALE EUR1.25 | 2 992.00 | 73 906.30 | 0.02 |
| EUR | SODEXO EUR4 | 327.00 | 30 874.98 | 0.01 |
| EUR | TELEPERFORMANCE EUR2.50 | 223.00 | 49 458.41 | 0.01 |
| EUR | THALES EUR3 | 396.00 | 49 805.61 | 0.01 |
| EUR | TOTALENERGIES SE EUR2.5 | 9 440.00 | 586 206.93 | 0.17 |
| EUR | UBISOFT ENTERTAIN EUR0.31 | 344.00 | 9 414.63 | 0.00 |
| EUR | UNIBAIL-RODAMCO-WE NPV(1 ORD UNIBAIL-R & 1CLS) | 429.00 | 22 368.69 | 0.01 |
| EUR | VALEO EUR1 (POST SUBD) | 778.00 | 14 218.95 | 0.00 |
| EUR | VEOLIA ENVIRONNEME EUR5 | 2 721.00 | 68 865.24 | 0.02 |
| EUR | VINCI EUR2.50 | 2 019.00 | 200 859.78 | 0.06 |
| EUR | VIVENDI SA EUR5.50 | 2 471.00 | 21 829.79 | 0.01 |
| EUR | WENDEL EUR4 | 130.00 | 11 839.43 | 0.00 |
| EUR | WORLDLINE EUR0.68 | 892.80 | 41 321.26 | 0.01 |
| Total France | 6 226 265.29 | 1.76 |

UBS (Lux) Strategy SICAV – Systematic Allocation Portfolio Dynamic (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) |  |
| Germany |  |  |  |  |
| EUR | ADIDAS AG NPV (REGD) | 645.00 | 81 195.83 | 0.02 |
| EUR | ALLIANZ SE NPV(REGD)(VINKULIERT) | 1 557.00 | 327 606.78 | 0.09 |
| EUR | BASF SE NPV | 3 489.00 | 174 287.66 | 0.05 |
| EUR | BAYER AG NPV (REGD) | 3 728.00 | 212 578.08 | 0.06 |
| EUR | BAYERISCHE MOTOREN WERKE AG EUR1 | 1 258.00 | 111 797.32 | 0.03 |
| EUR | BAYERISCHE MOTORENWERKE AG EUR1 | 207.00 | 17 615.82 | 0.00 |
| EUR | BECHTLE AG NPV | 387.00 | 13 695.57 | 0.00 |
| EUR | BEIERSDORF AG NPV | 382.00 | 40 886.27 | 0.01 |
| EUR | BRENNTAG AG | 578.00 | 35 696.36 | 0.01 |
| EUR | CARL ZEISS MEDITEC NPV | 153.00 | 20 345.83 | 0.01 |
| EUR | COMMERZBANK AG NPV | 3 854.00 | 31 769.97 | 0.01 |
| EUR | CONTINENTAL AG ORD NPV | 365.00 | 21 527.10 | 0.01 |
| EUR | COVESTRO AG NPV | 728.00 | 28 611.67 | 0.01 |
| EUR | DAIMLER TRUCK HOLD NPV (YOUNG SHARE) | 1 818.00 | 58 721.62 | 0.02 |
| EUR | DELIVERY HERO SE NPV | 588.00 | 24 804.64 | 0.01 |
| EUR | DEUTSCHE BANK AG NPV(REGD) | 7 811.00 | 81 407.16 | 0.02 |
| EUR | DEUTSCHE BOERSE AG NPV(REGD) | 726.00 | 131 489.81 | 0.04 |
| EUR | DEUTSCHE LUFTHANSA ORD NPV (REGD)(VINK) | 2 207.00 | 17 400.06 | 0.01 |
| EUR | DEUTSCHE POST AG NPV(REGD) | 3 745.00 | 145 873.96 | 0.04 |
| EUR | DEUTSCHE TELEKOM NPV(REGD) | 12 329.00 | 246 350.53 | 0.07 |
| EUR | DR.ING. F.PORSCHE NON-VTG PRF NPV | 433.00 | 48 507.22 | 0.01 |
| EUR | E.ON SE NPV | 8 525.00 | 80 088.34 | 0.02 |
| EUR | EVONIK INDUSTRIES NPV | 640.00 | 12 339.33 | 0.00 |
| EUR | FRESENIUS MED CARE NPV | 730.00 | 22 338.87 | 0.01 |
| EUR | FRESENIUS SE & CO. KGAA NPV | 1 607.00 | 43 947.44 | 0.01 |
| EUR | GEA GROUP AG NPV | 739.00 | 29 584.23 | 0.01 |
| EUR | HANNOVER RUECKVERS ORD NPV(REGD) | 249.00 | 46 559.13 | 0.01 |
| EUR | HEIDELBERGCEMENT NPV | 499.00 | 26 779.01 | 0.01 |
| EUR | HELLOFRESH SE NPV | 689.00 | 16 586.45 | 0.00 |
| EUR | HENKEL AG & CO KGAA | 435.00 | 28 531.09 | 0.01 |
| EUR | HENKEL AG&CO. KGAA NON-VTG PRF NPV | 675.00 | 47 566.74 | 0.01 |
| EUR | INFINEON TECHNOLOG AG NPV (REGD) | 4 906.00 | 159 222.11 | 0.04 |
| EUR | KNORR BREMSE AG NPV | 299.00 | 16 698.62 | 0.00 |
| EUR | LEG IMMOBILIEN SE NPV | 305.00 | 19 062.43 | 0.01 |
| EUR | MERCEDES-BENZ ORD NPV(REGD) | 3 055.00 | 202 575.40 | 0.06 |
| EUR | MERCK KGAA NPV | 498.00 | 89 118.68 | 0.03 |
| EUR | MTU AERO ENGINES H NPV (REGD) | 197.00 | 40 649.35 | 0.01 |
| EUR | MUENCHENER RUECKVE NPV(REGD) | 538.00 | 166 850.26 | 0.05 |
| EUR | NEMETSCHEK SE ORD NPV | 274.00 | 13 146.98 | 0.00 |
| EUR | PORSCHE AUTO HL SE NON VTG PRF NPV | 556.00 | 33 398.80 | 0.01 |
| EUR | PUMA SE NPV | 347.00 | 17 399.95 | 0.01 |
| EUR | RATIONAL AG NPV | 24.00 | 14 641.62 | 0.00 |
| EUR | RHEINMETALL AG NPV | 181.00 | 36 229.68 | 0.01 |
| EUR | RWE AG (NEU) NPV | 2 428.00 | 104 999.59 | 0.03 |
| EUR | SAP AG ORD NPV | 3 943.00 | 424 098.19 | 0.12 |
| EUR | SARTORIUS AG NON VTG PRF NPV | 93.00 | 34 127.96 | 0.01 |
| EUR | SCOUT24 AG NPV | 283.00 | 15 140.67 | 0.00 |
| EUR | SIEMENS AG NPV(REGD) | 2 953.00 | 398 981.82 | 0.11 |
| EUR | SIEMENS ENERGY AG NPV | 1 724.00 | 28 064.59 | 0.01 |
| EUR | SIEMENS HEALTHINEE NPV | 1 081.00 | 56 387.20 | 0.02 |
| EUR | SYMRISE AG NPV (BR) | 503.00 | 56 426.72 | 0.02 |
| EUR | TELEFONICA DEUTSCH NPV | 5 416.00 | 12 759.23 | 0.00 |
| EUR | UNITED INTERNET AG NPV(REGD) | 210.00 | 4 363.45 | 0.00 |
| EUR | VOLKSWAGEN AG NON VTG PRF NPV | 709.00 | 102 130.06 | 0.03 |
| EUR | VOLKSWAGEN AG ORD NPV | 112.00 | 21 109.47 | 0.01 |
| EUR | VONOVIA SE NPV | 2 708.00 | 65 496.98 | 0.02 |
| EUR | ZALANDO SE NPV | 765.00 | 23 425.67 | 0.01 |
| Total Germany |  | 4 382 995.37 | 1.24 |
| Hong Kong |  |  |  |
| HKD	AIA GROUP LTD NPV | 45 400.00 | 456 588.30 | 0.13 |
| HKD	BOC HONG KONG HLDG HKD5 | 16 000.00 | 50 733.46 | 0.01 |
| HKD	BUDWEISER BREWING USD0.00001 | 7 900.00 | 22 671.19 | 0.01 |
| HKD	CK ASSET HOLDINGS HKD1 | 7 500.00 | 44 728.08 | 0.01 |
| HKD	CK HUTCHISON HLDGS HKD1.0 | 10 000.00 | 58 036.00 | 0.02 |
| HKD	CK INFRASTRUCTURE HKD1 | 3 000.00 | 15 104.73 | 0.00 |
| HKD	CLP HOLDINGS HKD5 | 7 000.00 | 50 759.08 | 0.01 |
| HKD	ESR CAYMAN LIMITED USD0.001 | 7 600.00 | 17 175.58 | 0.01 |
| HKD	GALAXY ENTERTAINME HKD0.10 | 8 000.00 | 47 863.69 | 0.01 |
| HKD	HANG LUNG PROP HKD1 | 9 000.00 | 16 580.62 | 0.01 |
| HKD	HANG SENG BANK HKD5 | 2 900.00 | 44 658.25 | 0.01 |
| HKD	HENDERSON LAND DEV HKD2 | 6 000.00 | 19 755.30 | 0.01 |
| HKD	HKT TRUST AND HKT SHARE STAPLED UNIT | 12 000.00 | 14 574.34 | 0.00 |
| HKD	HONG KONG EXCHANGE HKD1 | 4 500.00 | 176 414.07 | 0.05 |
| USD	HONGKONG LAND HLD ORD USD0.10(SINGAPORE REG) | 3 500.00 | 14 035.00 | 0.00 |
| HKD	HONGKONG&CHINA GAS HKD0.25 | 49 350.00 | 41 981.17 | 0.01 |
| USD	JARDINE MATHESON COM USD0.25(BERMUDA REG) | 600.00 | 28 992.00 | 0.01 |
| HKD	MTR CORP HKD1 | 7 000.00 | 33 674.97 | 0.01 |
| HKD	NEW WORLD DEVEL CO NPV POST CON | 4 000.00 | 9 470.25 | 0.00 |
| HKD	POWER ASSETS HOLDINGS LTD HKD1 | 6 000.00 | 30 862.85 | 0.01 |
| HKD	SINO LAND CO HKD1 | 12 184.00 | 15 156.83 | 0.00 |
| HKD	SITC INTERNATIONAL HKD0.10 | 6 000.00 | 13 098.46 | 0.00 |
| HKD	SUN HUNG KAI PROP NPV | 5 500.00 | 66 023.96 | 0.02 |
| HKD	SWIRE PACIFIC ‘A’HKD0.60 | 2 000.00 | 15 642.82 | 0.01 |
| HKD	SWIRE PROPERTIES LTD HKD1 | 5 000.00 | 11 197.23 | 0.00 |
| HKD	TECHTRONIC INDUSTR HKD0.1 | 5 000.00 | 59 445.26 | 0.02 |
| HKD	THE LINK REAL ESTATE INVESTMENT TRUST | 7 924.00 | 53 297.03 | 0.02 |
| HKD	WH GROUP LTD USD0.0001 | 32 826.00 | 19 219.12 | 0.01 |
| HKD	WHARF REAL ESTATE HKD0.1 | 7 000.00 | 32 284.93 | 0.01 |
| HKD	XINYI GLASS HLDGS HKD0.1 | 8 000.00 | 15 332.78 | 0.00 |
| Total Hong Kong |  | 1 495 357.35 | 0.42 |

UBS (Lux) Strategy SICAV – Systematic Allocation Portfolio Dynamic (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) |  |
| Ireland |  |  |  |  |
| EUR | AIB GROUP PLC ORD EUR0.625 | 2 062.00 | 6 568.99 | 0.00 |
| EUR | BANK OF IRELAND GR EUR1 | 3 260.00 | 26 208.79 | 0.01 |
| EUR | CRH ORD EUR0.32 | 2 921.00 | 114 319.17 | 0.03 |
| GBP | DCC ORD EUR0.25 | 384.00 | 20 071.14 | 0.00 |
| GBP | EXPERIAN ORD USD0.10 | 3 504.00 | 121 223.14 | 0.03 |
| EUR | FLUTTER ENTERTAINM ORD EUR0.09 | 634.00 | 91 881.33 | 0.03 |
| AUD | JAMES HARDIE ID PLC CUFS EUR0.5 | 1 632.00 | 31 914.15 | 0.01 |
| EUR | KERRY GROUP ‘A’ORD EUR0.125(DUBLIN LIST) | 599.00 | 55 841.48 | 0.02 |
| EUR | KINGSPAN GROUP ORD EUR0.13(DUBLIN LISTING) | 588.00 | 32 354.40 | 0.01 |
| EUR | SMURFIT KAPPA GRP ORD EUR0.001 | 887.00 | 31 262.24 | 0.01 |
| Total Ireland |  | 531 644.83 | 0.15 |
| Isle of Man |  |  |  |
| GBP	ENTAIN PLC ORD EUR0.01 | 2 209.00 | 36 882.39 | 0.01 |
| Total Isle of Man |  | 36 882.39 | 0.01 |
| Israel |  |  |  |
| ILS	AZRIELI GROUP ILS0.01 | 119.00 | 8 280.99 | 0.00 |
| ILS	BANK HAPOALIM B.M. ILS1 | 4 997.00 | 47 242.89 | 0.01 |
| ILS	BEZEQ ISRAEL TELCM ILS1 | 7 678.00 | 14 019.48 | 0.00 |
| ILS	BK LEUMI LE ISRAEL ILS1 | 5 769.00 | 51 381.44 | 0.02 |
| USD	CHECK POINT SFTWRE ORD ILS0.01 | 386.00 | 51 272.38 | 0.01 |
| USD	CYBER-ARK SOFTWARE COM ILS0.01 | 200.00 | 29 814.00 | 0.01 |
| ILS	ELBIT SYSTEMS LTD ILS1 | 73.00 | 12 567.60 | 0.00 |
| ILS	ICL GROUP LTD ILS1 | 2 679.00 | 21 802.83 | 0.01 |
| ILS	ISRAEL DISCOUNT BK ILS0.10 SER’A’ | 5 346.00 | 31 035.09 | 0.01 |
| ILS	MIZRAHI TEFAHOT BK ILS0.01 | 661.00 | 23 928.04 | 0.01 |
| ILS	NICE SYSTEMS ILS1 | 255.00 | 47 817.58 | 0.01 |
| USD	TEVA PHARMA IND ADR(CNV 1 ORD ILS0.10) | 4 200.00 | 36 834.00 | 0.01 |
| ILS	TOWER SEMICONDUCTO ORD ILS1 | 449.00 | 19 702.23 | 0.01 |
| USD	WIX.COM LTD COM ILS0.01 | 224.00 | 20 269.76 | 0.01 |
| USD	ZIM INTEGRATED SHI COM NPV | 300.00 | 6 306.00 | 0.00 |
| Total Israel |  | 422 274.31 | 0.12 |
| Italy |  |  |  |
| EUR	AMPLIFON EUR0.02 | 367.00 | 10 146.12 | 0.00 |
| EUR	ASSIC GENERALI SPA EUR1 | 4 208.00 | 73 397.08 | 0.02 |
| EUR	DAVIDE CAMPARI MIL EUR0.01 | 2 156.00 | 22 254.75 | 0.01 |
| EUR	DIASORIN SPA EUR1 | 89.00 | 11 633.55 | 0.00 |
| EUR	ENEL EUR1 | 30 488.00 | 161 166.37 | 0.05 |
| EUR	ENI SPA EUR1 | 9 534.00 | 140 614.17 | 0.04 |
| EUR	FERRARI NV EUR0.01(NEW) | 480.00 | 104 727.76 | 0.03 |
| EUR	FINECOBANK SPA EUR0.33 | 2 472.00 | 39 299.35 | 0.01 |
| EUR	INFRASTRUTTURE WIR NPV | 1 055.00 | 10 317.49 | 0.00 |
| EUR	INTESA SANPAOLO NPV | 62 417.00 | 136 375.98 | 0.04 |
| EUR	MEDIOBANCA SPA EUR0.5 | 2 257.00 | 21 412.60 | 0.01 |
| EUR	MONCLER SPA NPV | 824.00 | 41 615.57 | 0.01 |
| EUR	NEXI SPA NPV | 2 218.00 | 19 192.75 | 0.01 |
| EUR	POSTE ITALIANE SPA NPV | 1 707.00 | 16 496.95 | 0.01 |
| EUR	PRYSMIAN SPA EUR0.10 | 960.00 | 33 014.70 | 0.01 |
| EUR	RECORDATI EUR0.125 | 353.00 | 14 771.28 | 0.00 |
| EUR	SNAM EUR1 | 8 173.00 | 40 965.82 | 0.01 |
| EUR	TELECOM ITALIA SPA EUR0.55 | 38 492.00 | 8 172.38 | 0.00 |
| EUR	TERNA SPA ORD EUR0.22 | 5 594.00 | 42 104.59 | 0.01 |
| EUR	UNICREDIT SPA NPV (POST REV SPLIT) | 7 841.00 | 105 149.07 | 0.03 |
| Total Italy |  | 1 052 828.33 | 0.30 |
| Japan |  |  |  |
| JPY	ADVANTEST CORP NPV | 700.00 | 45 800.49 | 0.01 |
| JPY	AEON CO LTD NPV | 2 400.00 | 48 553.82 | 0.01 |
| JPY	AGC INC NPV | 700.00 | 23 075.82 | 0.01 |
| JPY	AISIN CORPORATION NPV | 700.00 | 18 887.06 | 0.01 |
| JPY	AJINOMOTO CO INC NPV | 1 700.00 | 52 812.81 | 0.02 |
| JPY	ANA HOLDINGS INC NPV | 600.00 | 12 660.89 | 0.00 |
| JPY	ASAHI GROUP HLDGS NPV | 1 700.00 | 53 580.34 | 0.02 |
| JPY	ASAHI INTECC CO LT NPV | 800.00 | 13 839.76 | 0.00 |
| JPY	ASAHI KASEI CORP NPV | 5 200.00 | 37 973.34 | 0.01 |
| JPY	ASTELLAS PHARMA NPV | 6 900.00 | 105 225.74 | 0.03 |
| JPY	AZBIL CORP NPV | 400.00 | 11 967.89 | 0.00 |
| JPY	BANDAI NAMCO HLDGS NPV | 700.00 | 45 374.09 | 0.01 |
| JPY	BRIDGESTONE CORP NPV | 2 200.00 | 81 463.38 | 0.02 |
| JPY	BROTHER INDUSTRIES NPV | 800.00 | 12 693.13 | 0.00 |
| JPY	CANON INC NPV | 3 800.00 | 87 470.26 | 0.02 |
| JPY	CAPCOM CO LTD NPV | 800.00 | 23 935.79 | 0.01 |
| JPY	CENTRAL JAPAN RLWY NPV | 500.00 | 59 588.65 | 0.02 |
| JPY	CHIBA BANK NPV | 2 000.00 | 11 953.56 | 0.00 |
| JPY	CHUBU ELEC POWER NPV | 2 300.00 | 21 229.75 | 0.01 |
| JPY	CHUGAI PHARM CO NPV | 2 500.00 | 64 927.62 | 0.02 |
| JPY	CONCORDIA FINANCIA NPV | 4 700.00 | 16 066.36 | 0.00 |
| JPY	CYBER AGENT NPV | 1 600.00 | 14 092.02 | 0.00 |
| JPY	DAI NIPPON PRINTNG NPV | 900.00 | 18 323.78 | 0.01 |
| JPY	DAI-ICHI LIFE HOLD NPV | 3 700.00 | 67 442.67 | 0.02 |
| JPY	DAIFUKU CO LTD NPV | 400.00 | 20 180.59 | 0.01 |
| JPY	DAIICHI SANKYO COM NPV | 6 600.00 | 213 693.56 | 0.06 |
| JPY	DAIKIN INDUSTRIES NPV | 900.00 | 144 506.95 | 0.04 |
| JPY	DAITO TRUST CONST NPV | 200.00 | 21 957.86 | 0.01 |
| JPY	DAIWA HOUSE INDS NPV | 2 100.00 | 47 541.21 | 0.01 |
| JPY	DAIWA HOUSE REIT I REIT | 7.00 | 15 425.68 | 0.00 |
| JPY	DAIWA SECS GROUP NPV | 4 700.00 | 20 478.72 | 0.01 |
| JPY	DENSO CORP NPV | 1 600.00 | 86 157.37 | 0.02 |
| JPY	DENTSU GROUP INC NPV | 900.00 | 28 378.96 | 0.01 |
| JPY	DISCO CORPORATION NPV | 100.00 | 29 095.60 | 0.01 |
| JPY	EAST JAPAN RAILWAY NPV | 1 100.00 | 61 574.46 | 0.02 |
| JPY	EISAI CO NPV | 1 000.00 | 66 876.88 | 0.02 |

UBS (Lux) Strategy SICAV – Systematic Allocation Portfolio Dynamic (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) |  |
|  |  |  |  |  |
| JPY | ENEOS HOLDINGS INC NPV | 11 300.00 | 37 736.85 | 0.01 |
| JPY | FANUC CORP NPV | 700.00 | 102 160.67 | 0.03 |
| JPY | FAST RETAILING CO NPV | 200.00 | 115 823.42 | 0.03 |
| JPY | FUJI ELECTRIC CO L NPV | 600.00 | 24 165.11 | 0.01 |
| JPY | FUJI FILM HLD CORP NPV | 1 300.00 | 68 148.92 | 0.02 |
| JPY | FUJITSU NPV | 700.00 | 92 629.35 | 0.03 |
| JPY | GLP J-REIT REIT | 16.00 | 17 658.02 | 0.00 |
| JPY | GMO PAYMENT GATEWA NPV | 200.00 | 17 428.69 | 0.01 |
| JPY | HAKUHODO DY HLDGS NPV | 900.00 | 8 584.64 | 0.00 |
| JPY | HAMAMATSU PHOTONIC NPV | 700.00 | 35 918.02 | 0.01 |
| JPY | HANKYU HANSHIN HLD NPV | 900.00 | 27 669.49 | 0.01 |
| JPY | HIKARI TSUSHIN INC NPV | 100.00 | 13 738.00 | 0.00 |
| JPY | HIROSE ELECTRIC NPV | 110.00 | 14 347.14 | 0.00 |
| JPY | HITACHI CONST MACH NPV | 300.00 | 6 901.25 | 0.00 |
| JPY | HITACHI NPV | 3 700.00 | 193 538.05 | 0.05 |
| JPY | HONDA MOTOR CO NPV | 6 200.00 | 149 112.80 | 0.04 |
| JPY | HOSHIZAKI CORPORAT NPV | 400.00 | 13 286.51 | 0.00 |
| JPY | HOYA CORP NPV | 1 400.00 | 141 063.49 | 0.04 |
| JPY | HULIC CO LTD NPV | 1 300.00 | 10 741.72 | 0.00 |
| JPY | IBIDEN CO LTD NPV | 500.00 | 19 743.44 | 0.01 |
| JPY | IDEMITSU KOSAN CO LTD | 892.00 | 20 711.48 | 0.01 |
| JPY | IIDA GROUP HOLDING NPV | 600.00 | 9 429.55 | 0.00 |
| JPY | INPEX CORPORATION NPV | 3 700.00 | 40 648.56 | 0.01 |
| JPY | ISUZU MOTORS NPV | 2 200.00 | 28 284.36 | 0.01 |
| JPY | ITO EN LTD NPV | 300.00 | 11 330.08 | 0.00 |
| JPY | ITOCHU CORP NPV | 4 500.00 | 138 250.68 | 0.04 |
| JPY | ITOCHU TECHNO-SOLU NPV | 400.00 | 9 602.98 | 0.00 |
| JPY | JAPAN AIRLINES CO NPV | 400.00 | 7 834.31 | 0.00 |
| JPY | JAPAN EXCHANGE GP NPV | 1 700.00 | 24 067.29 | 0.01 |
| JPY | JAPAN METRO FUND REIT | 26.00 | 20 514.55 | 0.01 |
| JPY | JAPAN POST BANK CO NPV | 1 400.00 | 10 544.65 | 0.00 |
| JPY | JAPAN POST HOLD CO NPV | 8 900.00 | 68 755.91 | 0.02 |
| JPY | JAPAN POST INSURAN NPV | 500.00 | 8 194.78 | 0.00 |
| JPY | JAPAN REAL ESTATE INVESTMENT CORP | 5.00 | 21 821.70 | 0.01 |
| JPY | JAPAN TOBACCO INC NPV | 4 500.00 | 90 796.55 | 0.03 |
| JPY | JFE HOLDINGS INC NPV | 2 000.00 | 21 871.86 | 0.01 |
| JPY | JSR CORP NPV | 600.00 | 12 353.45 | 0.00 |
| JPY | KAJIMA CORP NPV | 1 500.00 | 16 661.89 | 0.00 |
| JPY | KAKAKU.COM. INC NPV | 400.00 | 6 960.01 | 0.00 |
| JPY | KANSAI ELEC POWER NPV | 2 400.00 | 20 054.46 | 0.01 |
| JPY | KAO CORP NPV | 1 800.00 | 70 444.32 | 0.02 |
| JPY | KDDI CORP NPV | 6 100.00 | 179 712.63 | 0.05 |
| JPY | KEIO CORPORATION NPV | 500.00 | 18 345.99 | 0.01 |
| JPY | KEISEI ELEC RY CO NPV | 500.00 | 14 028.24 | 0.00 |
| JPY | KEYENCE CORP NPV | 700.00 | 286 641.82 | 0.08 |
| JPY | KIKKOMAN CORP NPV | 600.00 | 33 194.78 | 0.01 |
| JPY | KINTETSU GROUP HOL NPV | 600.00 | 21 069.23 | 0.01 |
| JPY | KIRIN HOLDINGS CO LTD NPV | 3 000.00 | 46 545.79 | 0.01 |
| JPY | KOBAYASHI PHARMACE NPV | 200.00 | 12 182.89 | 0.00 |
| JPY | KOBE BUSSAN CO LTD NPV | 600.00 | 15 371.94 | 0.00 |
| JPY | KOEI TECMO HOLDING NPV | 520.00 | 8 850.51 | 0.00 |
| JPY | KOITO MFG CO LTD NPV | 600.00 | 9 309.16 | 0.00 |
| JPY | KOMATSU NPV | 3 400.00 | 77 458.79 | 0.02 |
| JPY | KONAMI HOLDINGS CORP NPV | 400.00 | 18 489.32 | 0.01 |
| JPY | KOSE CORPORATION NPV | 100.00 | 10 384.12 | 0.00 |
| JPY | KUBOTA CORP NPV | 3 800.00 | 55 281.64 | 0.02 |
| JPY | KURITA WATER INDS NPV | 500.00 | 21 857.53 | 0.01 |
| JPY | KYOCERA CORP NPV | 1 200.00 | 60 034.40 | 0.02 |
| JPY | KYOWA KIRIN CO LTD NPV | 1 100.00 | 25 028.67 | 0.01 |
| JPY | LASERTEC CORP NPV | 300.00 | 54 038.27 | 0.02 |
| JPY | LIXIL CORPORATION COM NPV | 1 200.00 | 18 136.73 | 0.01 |
| JPY | M3 INC NPV | 1 700.00 | 51 229.04 | 0.01 |
| JPY | MAKITA CORP NPV | 900.00 | 20 187.76 | 0.01 |
| JPY | MARUBENI CORP NPV | 5 900.00 | 65 452.20 | 0.02 |
| JPY | MAZDA MOTOR CORP NPV | 1 900.00 | 14 855.24 | 0.00 |
| JPY | MCDONALD’S HOLDING NPV | 400.00 | 14 648.13 | 0.00 |
| JPY | MEIJI HOLDINGS CO NPV | 500.00 | 23 649.13 | 0.01 |
| JPY | MINEBEA MITSUMI INC | 1 600.00 | 25 718.79 | 0.01 |
| JPY | MISUMI GROUP INC NPV | 1 300.00 | 31 209.69 | 0.01 |
| JPY | MITSUBISHI CHEM HL NPV | 4 600.00 | 24 038.41 | 0.01 |
| JPY | MITSUBISHI CORP NPV | 4 800.00 | 158 406.19 | 0.04 |
| JPY | MITSUBISHI ELEC CP NPV | 7 200.00 | 71 076.39 | 0.02 |
| JPY | MITSUBISHI ESTATE NPV | 4 400.00 | 61 172.42 | 0.02 |
| JPY | MITSUBISHI HC CAPI NPV | 2 000.00 | 9 373.66 | 0.00 |
| JPY | MITSUBISHI HVY IND NPV | 1 300.00 | 50 839.19 | 0.01 |
| JPY | MITSUBISHI UFJ FIN NPV | 45 400.00 | 245 675.36 | 0.07 |
| JPY | MITSUI & CO NPV | 5 300.00 | 151 282.07 | 0.04 |
| JPY | MITSUI CHEMICALS NPV | 800.00 | 17 772.68 | 0.01 |
| JPY | MITSUI FUDOSAN CO NPV | 3 400.00 | 67 651.57 | 0.02 |
| JPY | MITSUI O.S.K.LINES NPV | 1 200.00 | 28 937.94 | 0.01 |
| JPY | MIZUHO FINL GP NPV | 9 140.00 | 112 465.10 | 0.03 |
| JPY | MONOTARO CO.LTD NPV | 800.00 | 13 392.58 | 0.00 |
| JPY | MS&AD INSURANCE GROUP HOLDINGS INC NPV | 1 700.00 | 49 949.84 | 0.01 |
| JPY | MURATA MFG CO NPV | 2 100.00 | 112 329.08 | 0.03 |
| JPY | NEC CORP NPV | 900.00 | 31 313.60 | 0.01 |
| JPY | NEXON CO LTD NPV | 2 100.00 | 43 553.10 | 0.01 |
| JPY | NGK INSULATORS NPV | 1 000.00 | 12 978.36 | 0.00 |
| JPY | NIDEC CORPORATION NPV | 1 700.00 | 103 968.75 | 0.03 |
| JPY | NIHON M&A CENTER I NPV | 900.00 | 11 867.56 | 0.00 |
| JPY | NINTENDO CO LTD NPV | 4 200.00 | 177 402.90 | 0.05 |
| JPY | NIPPON BUILDING FD REIT | 6.00 | 27 518.99 | 0.01 |
| JPY | NIPPON EXPRESS HLD NPV | 300.00 | 17 392.86 | 0.01 |
| JPY | NIPPON PAINT HLDGS NPV | 3 100.00 | 24 881.75 | 0.01 |
| JPY | NIPPON PROLOGIS RE REIT | 7.00 | 16 930.63 | 0.01 |
| JPY | NIPPON SANSO HOLDI NPV | 700.00 | 11 402.47 | 0.00 |
| JPY | NIPPON SHINYAKU CO NPV | 200.00 | 11 595.24 | 0.00 |

UBS (Lux) Strategy SICAV – Systematic Allocation Portfolio Dynamic (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) |  |
|  |  |  |  |  |
| JPY | NIPPON STEEL CORP NPV | 3 000.00 | 47 137.02 | 0.01 |
| JPY | NIPPON TEL&TEL CP NPV | 4 500.00 | 123 190.48 | 0.04 |
| JPY | NIPPON YUSEN KK NPV | 1 800.00 | 39 175.86 | 0.01 |
| JPY | NISSAN CHEMICAL CO NPV | 500.00 | 24 150.78 | 0.01 |
| JPY | NISSAN MOTOR CO NPV | 9 700.00 | 34 145.33 | 0.01 |
| JPY | NISSHIN SEIFUN GRP NPV | 500.00 | 5 786.87 | 0.00 |
| JPY | NISSIN FOODS HLDG NPV | 200.00 | 15 020.78 | 0.00 |
| JPY | NITORI HOLDINGS CO LTD | 300.00 | 33 463.52 | 0.01 |
| JPY | NITTO DENKO CORP NPV | 600.00 | 37 021.64 | 0.01 |
| JPY | NOMURA HOLDINGS NPV | 10 700.00 | 38 393.94 | 0.01 |
| JPY | NOMURA REAL EST MA REIT | 15.00 | 18 543.07 | 0.01 |
| JPY | NOMURA REAL ESTATE HOLDINGS INC | 400.00 | 9 516.98 | 0.00 |
| JPY | NOMURA RESEARCH IN NPV | 1 300.00 | 27 911.71 | 0.01 |
| JPY | NTT DATA CORP NPV | 2 300.00 | 34 646.70 | 0.01 |
| JPY | OBAYASHI CORP NPV | 1 800.00 | 13 209.12 | 0.00 |
| JPY | OBIC CO LTD NPV | 300.00 | 46 653.29 | 0.01 |
| JPY | ODAKYU ELEC RLWY NPV | 1 100.00 | 14 205.25 | 0.00 |
| JPY | OJI HOLDINGS CO NPV | 4 100.00 | 15 513.83 | 0.00 |
| JPY | OLYMPUS CORP NPV | 4 700.00 | 94 511.97 | 0.03 |
| JPY | OMRON CORP NPV | 700.00 | 35 336.10 | 0.01 |
| JPY | ONO PHARMACEUTICAL NPV | 1 400.00 | 35 275.91 | 0.01 |
| JPY | OPEN HOUSE CO LTD NPV | 400.00 | 16 568.73 | 0.00 |
| JPY | ORACLE CORP JAPAN NPV | 200.00 | 11 509.24 | 0.00 |
| JPY | ORIENTAL LAND CO NPV | 800.00 | 113 057.19 | 0.03 |
| JPY | ORIX CORP NPV | 4 500.00 | 71 286.01 | 0.02 |
| JPY | OSAKA GAS CO NPV | 1 300.00 | 19 769.24 | 0.01 |
| JPY | OTSUKA CORP NPV | 500.00 | 16 375.23 | 0.00 |
| JPY | OTSUKA HLDGS CO NPV | 1 400.00 | 47 054.61 | 0.01 |
| JPY | PAN PACIFIC INTERNATIONAL HOLDINGS CORP | 1 300.00 | 22 210.12 | 0.01 |
| JPY | PANASONIC CORP NPV | 8 200.00 | 74 865.99 | 0.02 |
| JPY | PERSOL HOLDINGS CO NPV | 800.00 | 18 059.34 | 0.01 |
| JPY | RAKUTEN GROUP INC NPV | 3 400.00 | 15 910.85 | 0.00 |
| JPY | RECRUIT HLDGS CO L NPV | 5 500.00 | 170 628.49 | 0.05 |
| JPY | RENESAS ELECTRONIC NPV | 4 400.00 | 41 496.35 | 0.01 |
| JPY | RESONA HOLDINGS NPV | 8 600.00 | 40 731.98 | 0.01 |
| JPY | RICOH CO NPV | 2 800.00 | 21 791.60 | 0.01 |
| JPY | ROHM CO LTD NPV | 300.00 | 23 326.64 | 0.01 |
| JPY | SBI HOLDINGS INC NPV | 900.00 | 16 885.48 | 0.01 |
| JPY | SCSK CORP | 600.00 | 9 468.25 | 0.00 |
| JPY | SECOM CO NPV | 800.00 | 48 645.55 | 0.01 |
| JPY | SEIKO EPSON CORP NPV | 1 300.00 | 20 048.73 | 0.01 |
| JPY | SEKISUI CHEMICAL NPV | 1 300.00 | 17 952.56 | 0.01 |
| JPY | SEKISUI HOUSE NPV | 2 500.00 | 45 990.40 | 0.01 |
| JPY | SEVEN & I HOLDINGS NPV | 2 800.00 | 111 947.83 | 0.03 |
| JPY | SG HOLDINGS CO LTD NPV | 1 000.00 | 15 264.44 | 0.00 |
| JPY | SHARP CORP NPV | 1 000.00 | 6 972.91 | 0.00 |
| JPY | SHIMADZU CORP NPV | 900.00 | 26 960.01 | 0.01 |
| JPY | SHIMANO INC NPV | 300.00 | 50 265.16 | 0.01 |
| JPY | SHIMIZU CORP NPV | 2 800.00 | 14 808.66 | 0.00 |
| JPY | SHIN-ETSU CHEMICAL NPV | 1 400.00 | 176 279.20 | 0.05 |
| JPY | SHIONOGI & CO NPV | 1 000.00 | 49 806.51 | 0.01 |
| JPY | SHISEIDO CO LTD NPV | 1 500.00 | 62 336.96 | 0.02 |
| JPY | SHIZUOKA FINANCIAL NPV | 1 700.00 | 12 243.80 | 0.00 |
| JPY | SMC CORP NPV | 200.00 | 88 519.42 | 0.03 |
| JPY | SOFTBANK CORP NPV | 11 000.00 | 118 048.59 | 0.03 |
| JPY | SOFTBANK GROUP CO NPV | 4 600.00 | 196 210.41 | 0.06 |
| JPY | SOMPO HOLDINGS INC NPV | 1 200.00 | 52 105.49 | 0.01 |
| JPY | SONY GROUP CORPORA NPV | 4 800.00 | 387 157.80 | 0.11 |
| JPY | SQUARE-ENIX HOLDIN NPV | 400.00 | 17 744.02 | 0.01 |
| JPY | SUBARU CORPORATION NPV | 2 100.00 | 35 388.78 | 0.01 |
| JPY | SUMCO CORPORATION NPV | 1 500.00 | 21 746.45 | 0.01 |
| JPY | SUMITOMO CHEM CO NPV | 6 600.00 | 23 554.54 | 0.01 |
| JPY | SUMITOMO CORP NPV | 4 200.00 | 67 632.22 | 0.02 |
| JPY | SUMITOMO ELECTRIC NPV | 2 400.00 | 27 527.59 | 0.01 |
| JPY | SUMITOMO METAL MNG NPV | 900.00 | 29 959.15 | 0.01 |
| JPY | SUMITOMO MITSUI FG NPV | 5 000.00 | 167 443.03 | 0.05 |
| JPY | SUMITOMO MITSUI TR NPV | 1 400.00 | 44 215.28 | 0.01 |
| JPY | SUMITOMO RLTY&DEV NPV | 1 100.00 | 29 293.39 | 0.01 |
| JPY | SUNTORY BEVERAGE & NPV | 500.00 | 16 715.64 | 0.00 |
| JPY | SUZUKI MOTOR CORP NPV | 1 400.00 | 49 291.96 | 0.01 |
| JPY | SYSMEX CORP NPV | 600.00 | 35 766.09 | 0.01 |
| JPY | T&D HOLDINGS INC NPV | 1 900.00 | 22 711.77 | 0.01 |
| JPY | TAISEI CORP NPV | 700.00 | 20 893.65 | 0.01 |
| JPY | TAKEDA PHARMACEUTI NPV | 5 709.00 | 165 697.65 | 0.05 |
| JPY | TDK CORP NPV | 1 500.00 | 52 458.08 | 0.02 |
| JPY | TERUMO CORP NPV | 2 400.00 | 69 537.05 | 0.02 |
| JPY | TIS INC. NPV | 800.00 | 22 301.85 | 0.01 |
| JPY | TOBU RAILWAY CO NPV | 700.00 | 16 604.56 | 0.00 |
| JPY | TOHO CO LTD NPV | 500.00 | 18 955.14 | 0.01 |
| JPY | TOKIO MARINE HLDG NPV | 7 000.00 | 141 815.97 | 0.04 |
| JPY | TOKYO ELEC POWER H NPV | 6 600.00 | 23 601.83 | 0.01 |
| JPY | TOKYO ELECTRON NPV | 600.00 | 193 879.89 | 0.05 |
| JPY | TOKYO GAS CO NPV | 1 400.00 | 25 343.27 | 0.01 |
| JPY | TOKYU CORP NPV | 2 100.00 | 26 321.48 | 0.01 |
| JPY | TOPPAN PRINTING CO NPV | 1 200.00 | 18 334.53 | 0.01 |
| JPY | TORAY INDS INC NPV | 5 100.00 | 26 994.84 | 0.01 |
| JPY | TOSHIBA CORP NPV | 1 500.00 | 50 415.65 | 0.01 |
| JPY | TOSOH CORP NPV | 1 100.00 | 12 794.18 | 0.00 |
| JPY | TOTO LTD NPV | 500.00 | 17 002.29 | 0.01 |
| JPY | TOYOTA INDUSTRIES NPV | 600.00 | 33 581.77 | 0.01 |
| JPY | TOYOTA MOTOR CORP NPV | 40 300.00 | 580 644.62 | 0.16 |
| JPY | TOYOTA TSUSHO CORP NPV | 800.00 | 29 984.23 | 0.01 |
| JPY | TREND MICRO INC NPV | 500.00 | 24 401.61 | 0.01 |
| JPY | UNICHARM CORP NPV | 1 500.00 | 54 640.25 | 0.02 |

UBS (Lux) Strategy SICAV – Systematic Allocation Portfolio Dynamic (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) |  |
|  |  |  |  |  |
| JPY | USS CO LTD NPV | 1 000.00 | 16 454.06 | 0.00 |
| JPY | WELCIA HOLDINGS CO NPV | 400.00 | 8 657.02 | 0.00 |
| JPY | WEST JAPAN RAILWAY NPV | 800.00 | 33 458.51 | 0.01 |
| JPY | YAKULT HONSHA CO NPV | 600.00 | 37 623.62 | 0.01 |
| JPY | YAMAHA CORP NPV | 600.00 | 23 262.15 | 0.01 |
| JPY | YAMAHA MOTOR CO NPV | 1 300.00 | 31 815.25 | 0.01 |
| JPY | YAMATO HOLDINGS CO NPV | 1 000.00 | 16 432.56 | 0.00 |
| JPY | YASKAWA ELEC CORP NPV | 1 000.00 | 31 854.67 | 0.01 |
| JPY | YOKOGAWA ELECTRIC NPV | 700.00 | 12 872.29 | 0.00 |
| JPY | Z HOLDINGS CORP NPV | 11 000.00 | 29 443.17 | 0.01 |
| JPY | ZOZO INC NPV | 540.00 | 13 254.26 | 0.00 |
| Total Japan |  | 11 838 108.76 | 3.34 |
| Luxembourg |  |  |  |
| EUR	ARCELORMITTAL NPV(POST STOCK SPLIT) | 1 985.00 | 52 751.90 | 0.01 |
| EUR	AROUNDTOWN SA EUR0.01 | 4 068.00 | 9 612.87 | 0.00 |
| EUR	EUROFINS SCIENTIFI EUR0.01 | 471.00 | 32 211.39 | 0.01 |
| EUR	TENARIS S.A. USD1 | 1 763.00 | 30 342.29 | 0.01 |
| Total Luxembourg |  | 124 918.45 | 0.03 |
| Macau |  |  |  |
| HKD	SANDS CHINA LTD USD0.01 REG’S’ | 10 000.00 | 26 904.11 | 0.01 |
| Total Macau |  | 26 904.11 | 0.01 |
| The Netherlands |  |  |  |
| EUR	ABN AMRO BANK N.V. DR EACH REP SHS | 1 426.00 | 17 964.43 | 0.01 |
| EUR	ADYEN NV EUR0.01 | 82.00 | 123 590.54 | 0.04 |
| EUR	AEGON NV EUR0.12 | 7 193.00 | 34 542.85 | 0.01 |
| USD	AERCAP HOLDINGS EUR0.01 | 497.00 | 30 515.80 | 0.01 |
| EUR	AKZO NOBEL NV EUR0.50(POST REV SPLIT) | 684.00 | 48 046.02 | 0.01 |
| EUR	ARGEN X NV EUR0.10 | 209.00 | 83 926.77 | 0.02 |
| EUR	ASM INTL NV EUR0.04 | 176.00 | 46 935.57 | 0.01 |
| EUR	ASML HOLDING NV EUR0.09 | 1 544.00 | 892 025.33 | 0.25 |
| EUR	CNH INDUSTRIAL NV COM EUR0.01 | 3 884.00 | 61 067.18 | 0.02 |
| EUR	EURONEXT EUR1.60 | 284.00 | 21 270.67 | 0.01 |
| EUR	EXOR NV EUR0.01 | 435.00 | 33 628.16 | 0.01 |
| EUR	HEINEKEN HOLDING EUR1.6 | 384.00 | 28 487.53 | 0.01 |
| EUR	HEINEKEN NV EUR1.60 | 968.00 | 87 988.78 | 0.03 |
| EUR	IMCD NV EUR0.16 | 215.00 | 30 826.43 | 0.01 |
| EUR	ING GROEP N.V. EUR0.01 | 14 817.00 | 176 820.80 | 0.05 |
| EUR	JDE PEETS N.V. EUR0.01 | 367.00 | 11 162.62 | 0.00 |
| EUR	JUST EAT TAKEAWAY EUR0.04 | 757.00 | 16 828.22 | 0.00 |
| EUR	KON KPN NV EUR0.04 | 13 226.00 | 40 064.60 | 0.01 |
| EUR	KONINKLIJKE AHOLD EUR0.01 | 3 946.00 | 113 012.31 | 0.03 |
| EUR	KONINKLIJKE DSM NV EUR1.5 | 663.00 | 83 489.07 | 0.02 |
| EUR	KONINKLIJKE PHILIPS NV EUR0.20 | 3 321.00 | 48 529.08 | 0.01 |
| EUR	NN GROUP N.V. EUR0.12 | 1 046.00 | 43 748.30 | 0.01 |
| EUR	OCI N.V. EUR0.02 | 410.00 | 17 131.11 | 0.00 |
| EUR	PROSUS N.V. EUR0.05 | 3 139.00 | 201 972.14 | 0.06 |
| EUR	QIAGEN NV EUR0.01 | 831.00 | 40 488.84 | 0.01 |
| EUR	RANDSTAD N.V. EUR0.10 | 478.00 | 27 069.50 | 0.01 |
| GBP	SHELL PLC ORD EUR0.07 | 27 932.00 | 812 977.51 | 0.23 |
| EUR	STMICROELECTRONICS EUR1.04 | 2 532.00 | 93 998.05 | 0.03 |
| EUR	UNIVERSAL MUSIC GR EUR10.00 | 2 702.00 | 62 597.57 | 0.02 |
| EUR	WOLTERS KLUWER EUR0.12 | 1 007.00 | 109 077.41 | 0.03 |
| Total The Netherlands |  | 3 439 783.19 | 0.97 |
| New Zealand |  |  |  |
| NZD	AUCKLAND INTL NPV | 5 032.00 | 25 128.02 | 0.01 |
| NZD	FISHER & PAYKEL HE NPV | 2 627.00 | 38 506.46 | 0.01 |
| NZD	MERCURY NZ LTD NPV | 1 857.00 | 6 343.60 | 0.00 |
| NZD	MERIDIAN ENERGY LT NPV | 5 143.00 | 15 636.19 | 0.00 |
| NZD	SPARK NEW ZEALAND NPV | 7 312.00 | 23 388.64 | 0.01 |
| AUD	XERO LIMITED NPV | 470.00 | 22 234.58 | 0.01 |
| Total New Zealand |  | 131 237.49 | 0.04 |
| Norway |  |  |  |
| NOK	ADEVINTA ASA SER’B’NOK0.2 | 1 050.00 | 8 134.72 | 0.00 |
| NOK	AKER BP ASA NOK1 | 1 217.00 | 41 705.21 | 0.01 |
| NOK	DNB BANK ASA NOK12.50 | 3 601.00 | 68 797.53 | 0.02 |
| NOK	EQUINOR ASA NOK2.50 | 3 727.00 | 141 699.37 | 0.04 |
| NOK	GJENSIDIGE FORSIKR NOK2 | 729.00 | 13 832.59 | 0.00 |
| NOK	KONGSBERG GRUPPEN NOK5 | 329.00 | 13 343.26 | 0.00 |
| NOK	MOWI ASA NOK7.50 | 1 345.00 | 20 725.72 | 0.01 |
| NOK	NORSK HYDRO ASA NOK3.6666 | 5 082.00 | 36 991.88 | 0.01 |
| NOK	ORKLA ASA NOK1.25 | 3 082.00 | 21 624.06 | 0.01 |
| NOK	SALMAR ASA NOK0.25 | 196.00 | 6 785.50 | 0.00 |
| NOK	TELENOR ASA ORD NOK6 | 2 456.00 | 23 473.40 | 0.01 |
| NOK	YARA INTERNATIONAL NOK1.7 | 644.00 | 29 063.85 | 0.01 |
| Total Norway |  | 426 177.09 | 0.12 |
| Portugal |  |  |  |
| EUR	EDP ENERGIAS PORTU EUR1(REGD) | 10 291.00 | 47 883.90 | 0.01 |
| EUR	GALP ENERGIA EUR1-B | 1 875.00 | 22 752.05 | 0.01 |
| EUR	JERONIMO MARTINS EUR5 | 1 185.00 | 25 866.87 | 0.01 |
| Total Portugal |  | 96 502.82 | 0.03 |
| Singapore |  |  |  |
| SGD	CAPITALAND INVESTM NPV | 11 800.00 | 31 603.30 | 0.01 |
| SGD	CITY DEVELOPMENTS SGD0.50 | 2 700.00 | 16 334.38 | 0.00 |

UBS (Lux) Strategy SICAV – Systematic Allocation Portfolio Dynamic (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) |  |
|  |  |  |  |  |
| SGD | DBS GROUP HLDGS SGD1 | 6 800.00 | 174 627.45 | 0.05 |
| SGD | GENTING SINGAPORE LTD | 21 800.00 | 13 999.85 | 0.00 |
| USD | GRAB HLDGS LTD COM USD0.000001 CL A | 4 100.00 | 12 382.00 | 0.00 |
| SGD | JARDINE CYCLE & CA SGD1 | 100.00 | 2 204.63 | 0.00 |
| SGD | KEPPEL CORP NPV | 5 300.00 | 29 162.96 | 0.01 |
| SGD | MAPLETREE LOGISTICS TRUST-UNITS REIT | 8 607.00 | 10 112.58 | 0.00 |
| SGD | OVERSEA-CHINESE BK NPV | 12 714.00 | 115 421.56 | 0.03 |
| USD | SEA LTD ADS EACH REP ONE CL A SHS | 1 300.00 | 75 881.00 | 0.02 |
| SGD | SINGAPORE AIRLINES NPV | 5 400.00 | 21 674.09 | 0.01 |
| SGD | SINGAPORE EXCHANGE SGD0.01 | 2 900.00 | 19 152.74 | 0.01 |
| SGD | SINGAPORE TECH ENG NPV | 7 500.00 | 18 773.26 | 0.01 |
| SGD | SINGAPORE TELECOMM NPV | 37 600.00 | 74 634.75 | 0.02 |
| SGD | UOL GROUP LIMITED SGD1 | 1 900.00 | 9 234.47 | 0.00 |
| SGD | UTD O/S BANK SGD1 | 4 300.00 | 97 905.57 | 0.03 |
| SGD | VENTURE CORP LTD SGD0.25 | 800.00 | 10 099.98 | 0.00 |
| SGD | WILMAR INTERNATIONAL LTD | 9 100.00 | 27 227.61 | 0.01 |
| Total Singapore	760 432.18	0.21 |
| Spain |  |  |  |  |
| EUR | ACCIONA SA EUR1 | 72.00 | 13 818.73 | 0.00 |
| EUR | ACS ACTIVIDADES CO EUR0.5 | 899.00 | 25 048.23 | 0.01 |
| EUR | AENA SME S.A. EUR10 | 270.00 | 34 278.08 | 0.01 |
| EUR | AMADEUS IT GROUP EUR0.01 | 1 704.00 | 89 936.88 | 0.03 |
| EUR | BANCO SANTANDER SA EUR0.50(REGD) | 65 451.00 | 192 099.82 | 0.05 |
| EUR | BBVA(BILB-VIZ-ARG) EUR0.49 | 24 214.00 | 139 918.08 | 0.04 |
| EUR | CAIXABANK SA EUR1 | 16 933.00 | 62 103.70 | 0.02 |
| EUR | CELLNEX TELECOM SA EUR0.25 | 2 062.00 | 69 214.31 | 0.02 |
| EUR | CORP ACCIONA ENERG EUR1 | 90.00 | 3 508.43 | 0.00 |
| EUR | EDP RENOVAVEIS SA EUR5 | 1 087.00 | 24 679.01 | 0.01 |
| EUR | ENAGAS SA EUR1.50 | 861.00 | 15 274.89 | 0.00 |
| EUR | ENDESA SA EUR1.2 | 1 155.00 | 21 049.65 | 0.01 |
| EUR | FERROVIAL SA EUR0.2 | 1 915.00 | 50 477.56 | 0.01 |
| EUR | GRIFOLS SA EUR0.25 (CLASS A) POST SUBD | 1 202.00 | 12 568.23 | 0.00 |
| EUR | IBERDROLA SA EUR0.75 (POST SUBDIVISION) | 22 618.00 | 251 051.36 | 0.07 |
| EUR | INDITEX EUR0.03 (POST SUBD) | 4 152.00 | 106 279.16 | 0.03 |
| EUR | NATURGY ENERGY GRO EUR1 | 548.00 | 15 110.57 | 0.01 |
| EUR | RED ELECTRICA CORP EUR0.5 | 1 703.00 | 29 449.94 | 0.01 |
| EUR | REPSOL SA EUR1 | 5 532.00 | 84 301.15 | 0.02 |
| EUR | SIEMENS GAMESA REN EUR0.17 | 906.00 | 16 819.52 | 0.01 |
| EUR | TELEFONICA SA EUR1 | 19 977.00 | 73 741.01 | 0.02 |
| Total Spain	1 330 728.31 | 0.38 |
| Sweden |  |  |  |  |
| SEK | ALFA LAVAL AB NPV | 1 041.00 | 29 061.47 | 0.01 |
| SEK | ASSA ABLOY SER’B’NPV (POST SPLIT) | 3 834.00 | 85 676.98 | 0.02 |
| SEK | ATLAS COPCO AB SER’A’NPV (POST SPLIT) | 10 109.00 | 122 440.26 | 0.04 |
| SEK | ATLAS COPCO AB SER’B’NPV (POST SPLIT) | 5 859.00 | 64 261.21 | 0.02 |
| SEK | BOLIDEN AB NPV (POST SPLIT) | 1 141.00 | 41 504.33 | 0.01 |
| SEK | ELECTROLUX AB SER’B’NPV (POST SPLIT) | 1 002.00 | 13 955.35 | 0.00 |
| SEK | EMBRACER GROUP AB SER’B’NPV (POST SPLIT) | 2 878.00 | 11 984.24 | 0.00 |
| SEK | EPIROC AB SER’A’NPV (POST SPLIT) | 2 404.00 | 45 064.57 | 0.01 |
| SEK | EPIROC AB SER’B’NPV | 1 379.00 | 22 462.19 | 0.01 |
| SEK | EQT AB NPV | 1 253.00 | 27 636.08 | 0.01 |
| SEK | ERICSSON SER’B’ NPV | 10 927.00 | 66 727.27 | 0.02 |
| SEK | ESSITY AB SER’B’NPV | 2 317.00 | 55 536.04 | 0.02 |
| SEK | EVOLUTION AB NPV | 692.00 | 69 240.23 | 0.02 |
| SEK | FASTIGHETS AB BALD SER’B’NPV (POST SPLIT) | 2 802.00 | 12 105.27 | 0.00 |
| SEK | GETINGE AB SER’B’NPV | 1 020.00 | 23 128.34 | 0.01 |
| SEK | HENNES & MAURITZ SER’B’NPV | 2 475.00 | 27 076.04 | 0.01 |
| SEK | HEXAGON AB SER’B’NPV (POST SPLIT) | 7 463.00 | 82 686.61 | 0.02 |
| SEK | HOLMEN AB SER’B’NPV (POST SPLIT) | 362.00 | 14 593.65 | 0.00 |
| SEK | HUSQVARNA AB SER’B’NPV | 1 827.00 | 13 867.23 | 0.00 |
| SEK | INDUSTRIVARDEN AB SER’C’NPV | 477.00 | 11 902.86 | 0.00 |
| SEK | INDUSTRIVARDEN AB SER’A’NPV | 541.00 | 13 596.28 | 0.00 |
| SEK | INDUTRADE AB NPV | 1 104.00 | 23 097.06 | 0.01 |
| SEK | INVESTOR AB SER’A’NPV (POST SPLIT) | 1 793.00 | 33 619.38 | 0.01 |
| SEK | INVESTOR AB SER’B’NPV (POST SPLIT) | 6 825.00 | 123 523.04 | 0.04 |
| SEK | KINNEVIK AB SER’B’NPV (POST SPLIT) | 966.00 | 14 435.01 | 0.00 |
| SEK | LATOUR INVESTMENT SER’B’NPV (POST SPLIT) | 671.00 | 12 880.37 | 0.00 |
| SEK | LIFCO AB SER’B’NPV (POST SPLIT) | 1 060.00 | 17 842.61 | 0.01 |
| SEK | LUNDBERGFORETAGEN SER’B’NPV | 330.00 | 14 012.27 | 0.00 |
| SEK | NIBE INDUSTRIER AB SER’B’NPV (POST SPLIT) | 5 759.00 | 52 914.24 | 0.02 |
| SEK | SAGAX AB NPV B | 770.00 | 16 658.13 | 0.01 |
| SEK | SANDVIK AB NPV (POST SPLIT) | 4 009.00 | 71 805.45 | 0.02 |
| SEK | SECURITAS SER’B’NPV | 1 465.00 | 11 729.56 | 0.00 |
| SEK | SKAND ENSKILDA BKN SER’A’NPV | 6 211.00 | 69 746.92 | 0.02 |
| SEK | SKANSKA AB SER’B’NPV | 1 180.00 | 18 639.79 | 0.01 |
| SEK | SKF AB SER’B’NPV | 1 446.00 | 23 506.08 | 0.01 |
| SEK | SVENSKA CELLULOSA SER’B’NPV | 2 295.00 | 30 366.71 | 0.01 |
| SEK | SVENSKA HANDELSBKN SER’A’NPV (P/S) | 5 587.00 | 55 352.37 | 0.02 |
| SEK | SWEDBANK AB SER’A’NPV | 3 458.00 | 54 867.27 | 0.02 |
| SEK | SWEDISH ORPHAN BIOVITRUM AB NPV | 687.00 | 14 630.59 | 0.00 |
| SEK | TELE2 AB SHS | 1 758.00 | 15 302.01 | 0.00 |
| SEK | TELIA COMPANY AB NPV | 10 517.00 | 28 226.01 | 0.01 |
| SEK | VOLVO AB SER’A’NPV (POST SPLIT) | 741.00 | 13 883.59 | 0.00 |
| SEK | VOLVO AB SER’B’NPV (POST SPLIT) | 5 752.00 | 103 553.04 | 0.03 |
| SEK | VOLVO CAR AB SER’B’NPV (WI) | 2 218.00 | 10 728.30 | 0.00 |
| Total Sweden |  | 1 685 826.30 | 0.48 |
| Switzerland |  |  |  |
| CHF	ABB LTD CHF0.12 (REGD) | 6 322.00 | 194 819.12 | 0.06 |
| CHF	ADECCO GROUP AG CHF0.1 (REGD) | 541.00 | 18 085.38 | 0.01 |
| CHF	ALCON AG CHF0.04 | 1 872.00 | 125 867.56 | 0.04 |
| CHF	BACHEM HOLDING AG CHF0.01 (REGD) (SUBD) | 110.00 | 10 477.56 | 0.00 |

UBS (Lux) Strategy SICAV – Systematic Allocation Portfolio Dynamic (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) |  |
|  |  |  |  |  |
| CHF | BALOISE-HLDGS CHF0.1(REGD) | 168.00 | 25 092.00 | 0.01 |
| CHF | BARRY CALLEBAUT AG CHF0.02 (REGD) | 12.00 | 24 220.41 | 0.01 |
| CHF | BKW AG CHF2.5 | 30.00 | 3 850.96 | 0.00 |
| CHF | BQE CANT VAUDOISE CHF1 | 38.00 | 3 527.79 | 0.00 |
| CHF | CLARIANT CHF4.00(REGD) | 968.00 | 15 443.30 | 0.00 |
| GBP | COCA-COLA HBC AG ORD CHF6.70 | 942.00 | 22 604.83 | 0.01 |
| CHF | CREDIT SUISSE GRP CHF0.04(REGD) | 11 888.00 | 35 211.69 | 0.01 |
| CHF | EMS-CHEMIE HLDG AG CHF0.01(REGD)(POST RECON) | 30.00 | 20 530.04 | 0.01 |
| CHF | GEBERIT CHF0.10(REGD) | 124.00 | 58 150.83 | 0.02 |
| CHF | GIVAUDAN AG CHF10 | 34.00 | 112 982.42 | 0.03 |
| GBP | GLENCORE XSTRATA ORD USD0.01 | 37 417.00 | 251 095.07 | 0.07 |
| CHF | HOLCIM LTD CHF2 (REGD) | 2 056.00 | 105 222.31 | 0.03 |
| CHF | JULIUS BAER GRUPPE CHF0.02 (REGD) | 781.00 | 44 134.39 | 0.01 |
| CHF | KUEHNE&NAGEL INTL CHF1(REGD)(POST-SUBD) | 211.00 | 50 626.71 | 0.01 |
| CHF | LINDT & SPRUENGLI PTG CERT CHF10 | 8.00 | 83 295.72 | 0.02 |
| CHF | LOGITECH INTL CHF0.25(REGD) (POST-SUBD) | 720.00 | 42 213.80 | 0.01 |
| CHF | LONZA GROUP AG CHF1(REGD) | 289.00 | 148 693.57 | 0.04 |
| CHF | NESTLE SA CHF0.10(REGD) | 10 543.00 | 1 243 138.93 | 0.35 |
| CHF | NOVARTIS AG CHF0.50(REGD) | 8 211.00 | 720 913.30 | 0.20 |
| CHF | PARTNERS GROUP HLG CHF0.01 (REGD) | 86.00 | 83 495.15 | 0.02 |
| CHF | RICHEMONT(CIE FIN) CHF1.00 (REG) SER ‘A’ | 1 962.00 | 255 456.42 | 0.07 |
| CHF | ROCHE HLDGS AG CHF1(BR) | 104.00 | 41 305.27 | 0.01 |
| CHF | ROCHE HLDGS AG GENUSSCHEINE NPV | 2 670.00 | 862 583.05 | 0.24 |
| CHF | SCHINDLER-HLDG AG CHF0.1(REGD)(POST-SUBD) | 106.00 | 18 780.16 | 0.01 |
| CHF | SCHINDLER-HLDG AG PTG CERT CHF0.10(POST-SUBD) | 137.00 | 25 473.16 | 0.01 |
| CHF | SGS LTD CHF1(REGD) | 23.00 | 53 109.42 | 0.02 |
| CHF | SIG COMBIBLOC GROU CHF0.1 | 1 115.00 | 24 225.14 | 0.01 |
| CHF | SIKA AG CHF0.01 (REG) | 564.00 | 140 297.03 | 0.04 |
| CHF | SONOVA HOLDING AG CHF0.05 (REGD) | 203.00 | 51 562.32 | 0.01 |
| CHF | STRAUMANN HLDG CHF0.01 (REGD) (POST SPLIT) | 450.00 | 50 821.31 | 0.01 |
| CHF | SWATCH GROUP CHF0.45(REGD) | 228.00 | 10 807.12 | 0.00 |
| CHF | SWATCH GROUP CHF2.25(BR) | 138.00 | 36 182.00 | 0.01 |
| CHF | SWISS LIFE HLDG CHF5.1(REGD) | 113.00 | 59 491.79 | 0.02 |
| CHF | SWISS PRIME SITE CHF15.3 (REGD) | 315.00 | 25 953.82 | 0.01 |
| CHF | SWISS RE AG CHF0.10 | 1 147.00 | 101 391.07 | 0.03 |
| CHF | SWISSCOM AG CHF1(REGD) | 93.00 | 49 606.51 | 0.01 |
| CHF | TEMENOS AG CHF5 (REGD) | 177.00 | 10 600.49 | 0.00 |
| CHF | UBS GROUP CHF0.10 (REGD) | 13 111.00 | 237 036.98 | 0.07 |
| CHF | VAT GROUP AG CHF0.10 | 118.00 | 32 052.90 | 0.01 |
| CHF | ZURICH INSURANCE GRP CHF0.10 | 582.00 | 276 659.98 | 0.08 |
| Total Switzerland |  | 5 807 088.78 | 1.64 |
| United Arab Emirates |  |  |  |
| GBP	NMC HEALTH PLC ORD GBP0.1 | 997.00 | 0.01 | 0.00 |
| Total United Arab Emirates |  | 0.01 | 0.00 |
| United Kingdom |  |  |  |
| GBP	3I GROUP ORD GBP0.738636 | 3 599.00 | 57 797.38 | 0.02 |
| GBP	ABRDN PLC ORD GBP0.1396825396 | 8 526.00 | 19 738.62 | 0.01 |
| GBP	ADMIRAL GROUP ORD GBP0.001 | 759.00 | 18 312.87 | 0.01 |
| GBP	ANGLO AMERICAN USD0.54945 | 4 806.00 | 195 027.08 | 0.06 |
| GBP	ANTOFAGASTA ORD GBP0.05 | 1 638.00 | 27 475.53 | 0.01 |
| GBP	ASHTEAD GROUP ORD GBP0.10 | 1 680.00 | 99 535.42 | 0.03 |
| GBP	ASSOCD BRIT FOODS ORD GBP0.0568 | 1 486.00 | 27 978.60 | 0.01 |
| GBP	ASTRAZENECA ORD USD0.25 | 5 893.00 | 783 626.94 | 0.22 |
| GBP	AUTO TRADER GROUP ORD GBP0.01 | 3 767.00 | 25 382.47 | 0.01 |
| GBP	AVEVA GROUP ORD GBP0.03556 | 398.00 | 15 077.25 | 0.00 |
| GBP	AVIVA ORD GBP0.33 | 10 710.00 | 56 668.42 | 0.02 |
| GBP	BAE SYSTEMS ORD GBP0.025 | 11 875.00 | 116 331.58 | 0.03 |
| GBP	BARCLAYS ORD GBP0.25 | 63 340.00 | 121 625.93 | 0.03 |
| GBP	BARRATT DEVEL ORD GBP0.10 | 3 467.00 | 16 420.44 | 0.00 |
| GBP	BERKELEY GP HLDGS ORD GBP0.053943 | 438.00 | 19 878.72 | 0.01 |
| GBP	BP ORD USD0.25 | 73 587.00 | 435 982.93 | 0.12 |
| GBP	BRIT AMER TOBACCO ORD GBP0.25 | 8 158.00 | 329 447.93 | 0.09 |
| GBP	BRITISH LAND CO PLC REIT | 2 909.00 | 13 659.85 | 0.00 |
| GBP	BT GROUP ORD GBP0.05 | 26 100.00 | 37 734.14 | 0.01 |
| GBP	BUNZL ORD GBP0.32142857 | 1 223.00 | 44 393.23 | 0.01 |
| GBP	BURBERRY GROUP ORD GBP0.0005 | 1 472.00 | 38 162.91 | 0.01 |
| USD	COCA-COLA EUROPACI COM EUR0.01 | 749.00 | 39 764.41 | 0.01 |
| GBP	COMPASS GROUP ORD GBP0.1105 | 6 731.00 | 150 058.54 | 0.04 |
| GBP	CRODA INTL ORD GBP0.10609756 | 529.00 | 42 801.26 | 0.01 |
| GBP	DIAGEO ORD GBP0.28 101/108 | 8 685.00 | 393 860.16 | 0.11 |
| GBP	GSK PLC ORD GBP0.3125 | 15 441.00 | 258 692.05 | 0.07 |
| GBP	HALEON PLC ORD GBP1.25 | 19 077.00 | 64 544.11 | 0.02 |
| GBP	HALMA ORD GBP0.10 | 1 378.00 | 35 643.83 | 0.01 |
| GBP	HARGREAVES LANSDOW ORD GBP0.004 (WI) | 1 127.00 | 11 322.33 | 0.00 |
| GBP	HIKMA PHARMACEUTIC ORD GBP0.10 | 580.00 | 10 457.53 | 0.00 |
| GBP	HSBC HLDGS ORD USD0.50(UK REG) | 76 278.00 | 463 008.78 | 0.13 |
| GBP	IMPERIAL BRANDS PL GBP0.10 | 3 435.00 | 86 928.26 | 0.02 |
| GBP	INFORMA PLC (GB) ORD GBP0.001 | 6 246.00 | 45 686.41 | 0.01 |
| GBP	INTERCONTL HOTELS ORD GBP0.208521303 | 685.00 | 39 132.32 | 0.01 |
| GBP	INTERTEK GROUP ORD GBP0.01 | 680.00 | 32 756.90 | 0.01 |
| GBP	JD SPORTS FASHION ORD GBP0.0005 | 10 120.00 | 15 191.43 | 0.00 |
| GBP	JOHNSON MATTHEY ORD GBP1.109245 | 742.00 | 18 459.40 | 0.01 |
| GBP	KINGFISHER ORD GBP0.157142857 | 6 402.00 | 18 381.80 | 0.01 |
| GBP	LAND SECURITIES GP ORD GBP0.106666666 | 2 666.00 | 19 500.48 | 0.01 |
| GBP	LEGAL & GENERAL GP ORD GBP0.025 | 22 731.00 | 68 109.00 | 0.02 |
| GBP	LLOYDS BANKING GP ORD GBP0.1 | 265 307.00 | 148 198.28 | 0.04 |
| GBP	LONDON STOCK EXCH ORD GBP0.06918604 | 1 249.00 | 122 683.56 | 0.03 |
| GBP	M&G PLC ORD GBP0.05 | 9 274.00 | 21 227.35 | 0.01 |
| GBP	MELROSE INDUST PLC ORD GBP0.076190476 | 18 155.00 | 28 571.87 | 0.01 |
| GBP	MONDI ORD EUR0.20 | 1 990.00 | 36 567.42 | 0.01 |
| GBP	NATIONAL GRID ORD GBP0.12431289 | 13 753.00 | 166 159.36 | 0.05 |
| GBP	NATWEST GROUP PLC ORD GBP1.0769 | 20 432.00 | 63 726.74 | 0.02 |
| GBP	NEXT ORD GBP0.10 | 474.00 | 32 966.02 | 0.01 |

UBS (Lux) Strategy SICAV – Systematic Allocation Portfolio Dynamic (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) |  |
|  |  |  |  |  |
| GBP | OCADO GROUP PLC ORD GBP0.02 | 2 106.00 | 15 615.03 | 0.00 |
| GBP | PEARSON ORD GBP0.25 | 2 469.00 | 29 262.19 | 0.01 |
| GBP | PERSIMMON ORD GBP0.10 | 1 332.00 | 20 177.47 | 0.01 |
| GBP | PHOENIX GP HLDGS ORD GBP0.10 | 2 682.00 | 18 806.24 | 0.01 |
| GBP | PRUDENTIAL ORD GBP0.05 | 10 375.00 | 121 010.62 | 0.03 |
| GBP | RECKITT BENCK GRP ORD GBP0.10 | 2 712.00 | 192 103.79 | 0.05 |
| GBP | RELX PLC GBP0.1444 | 7 413.00 | 204 106.64 | 0.06 |
| GBP | RENTOKIL INITIAL ORD GBP0.01 | 9 534.00 | 61 470.78 | 0.02 |
| GBP | RIO TINTO ORD GBP0.10 | 4 256.00 | 283 074.07 | 0.08 |
| GBP | ROLLS-ROYCE HLDGS ORD GBP0.20 | 35 423.00 | 38 354.83 | 0.01 |
| GBP | SAGE GROUP GBP0.01051948 | 3 683.00 | 34 939.55 | 0.01 |
| GBP | SAINSBURY(J) ORD GBP0.28571428 | 6 129.00 | 16 247.63 | 0.00 |
| GBP | SCHRODERS PLC ORD GBP0.20 | 3 635.00 | 19 151.15 | 0.01 |
| GBP | SEVERN TRENT ORD GBP0.9789 | 939.00 | 30 327.08 | 0.01 |
| GBP | SMITH & NEPHEW ORD USD0.20 | 3 296.00 | 42 608.12 | 0.01 |
| GBP | SMITHS GROUP ORD GBP0.375 | 1 364.00 | 25 803.40 | 0.01 |
| GBP | SPIRAX-SARCO ENG ORD GBP0.269230769 | 270.00 | 36 028.89 | 0.01 |
| GBP | SSE PLC ORD GBP0.50 | 4 004.00 | 81 467.49 | 0.02 |
| GBP | ST JAMES’S PLACE ORD GBP0.15 | 2 125.00 | 29 089.97 | 0.01 |
| GBP | STANDARD CHARTERED ORD USD0.50 | 9 563.00 | 70 313.07 | 0.02 |
| EUR | STELLANTIS N V COM EUR0.01 | 8 662.00 | 132 819.19 | 0.04 |
| GBP | TAYLOR WIMPEY ORD GBP0.01 | 14 355.00 | 17 676.61 | 0.00 |
| GBP | TESCO ORD GBP0.0633333 | 28 586.00 | 77 447.98 | 0.02 |
| GBP | UNILEVER PLC ORD GBP0.031111 | 566.00 | 27 932.61 | 0.01 |
| EUR | UNILEVER PLC ORD GBP0.031111 | 9 108.00 | 450 193.40 | 0.13 |
| GBP | UNITED UTILITIES G ORD GBP0.05 | 2 694.00 | 32 852.83 | 0.01 |
| GBP | VODAFONE GROUP ORD USD0.2095238(POST CONS) | 100 960.00 | 110 422.22 | 0.03 |
| GBP | WHITBREAD ORD GBP0.76797385 | 734.00 | 22 587.28 | 0.01 |
| GBP | WPP PLC ORD GBP0.10 | 4 033.00 | 41 573.90 | 0.01 |
| Total United Kingdom |  | 7 218 121.87 | 2.04 |
| United States |  |  |  |
| CAD	BROOKFIELD RENEWA. CLASS A SUB VOTING SHARES | 550.00 | 17 777.53 | 0.01 |
| Total United States |  | 17 777.53 | 0.01 |
| Total Equities |  | 61 054 620.50 | 17.25 |
| Certificates on investment funds |  |  |  |
| Ireland |  |  |  |
| USD	STAR COMPASS PLC/UBS DYNMC DIVERSIFIED LTD NOTE DUE 30.06.23 | 8 375 000.00 | 14 214 887.50 | 4.02 |
| Total Ireland |  | 14 214 887.50 | 4.02 |
| Total Certificates on investment funds |  | 14 214 887.50 | 4.02 |
| Certificates on commodities |  |  |  |
| United Kingdom |  |  |  |
| USD	UBS AG/LONDON/UBS ETC CMCI COMPOSITE USD 16-PRP | 9 634.00 | 1 413 355.97 | 0.40 |
| Total United Kingdom |  | 1 413 355.97 | 0.40 |
| Total Certificates on commodities |  | 1 413 355.97 | 0.40 |
| Investment funds, closed end |  |  |  |
| Canada |  |  |  |
| CAD	CANADIAN APARTMENT PROP. REAL ESTATE INVESTMENT TRUST | 200.00 | 6 446.85 | 0.00 |
| CAD	RIOCAN REAL ESTATE INVESTMENT TRUST | 403.00 | 6 284.15 | 0.00 |
| Total Canada |  | 12 731.00 | 0.00 |
| Singapore |  |  |  |
| SGD	CAPITALAND ASCENDAS REIT- UNITS REAL ESTATE INVESTMENT TRUST | 13 900.00 | 28 301.10 | 0.01 |
| SGD	CAPITALAND INTEGRATED COMMERCIAL TRUST REAL ESTATE INV TRUST | 20 625.13 | 31 156.69 | 0.01 |
| SGD	MAPLETREE COMMERCIAL REAL ESTATE INVESTMENT TRUST | 5 200.00 | 6 489.09 | 0.00 |
| Total Singapore |  | 65 946.88 | 0.02 |
| United Kingdom |  |  |  |
| GBP	SEGRO PLC REIT | 4 391.00 | 41 352.85 | 0.01 |
| Total United Kingdom |  | 41 352.85 | 0.01 |
| Total Investment funds, closed end |  | 120 030.73 | 0.03 |
| Rights |  |  |  |
| Switzerland |  |  |  |
| CHF	CREDIT SUISSE GROUP AG RIGHTS 08.12.22 | 11 888.00 | 1 098.02 | 0.00 |
| Total Switzerland |  | 1 098.02 | 0.00 |
| Total Rights |  | 1 098.02 | 0.00 |
| Total Transferable securities and money market instruments listed on an official stock exchange |  | 76 803 992.72 | 21.70 |

UBS (Lux) Strategy SICAV – Systematic Allocation Portfolio Dynamic (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) |  |
| Transferable securities and money market instruments traded on another regulated market |  |  |  |
| Treasury bills, zero coupon |  |  |  |
| USD |  |  |  |
| USD	AMERICA, UNITED STATES OF TB 0.00000% 27.01.22-26.01.23 | 4 200 000.00 | 4 173 507.32 | 1.18 |
| USD	AMERICA, UNITED STATES OF TB 0.00000% 24.03.22-23.03.23 | 3 800 000.00 | 3 750 080.65 | 1.06 |
| USD	AMERICA, UNITED STATES OF TB 0.00000% 19.05.22-18.05.23 | 4 000 000.00 | 3 916 410.68 | 1.10 |
| Total USD |  | 11 839 998.65 | 3.34 |
| Total Treasury bills, zero coupon | 11 839 998.65 | 3.34 |
| Total Transferable securities and money market instruments traded on another regulated market | 11 839 998.65 | 3.34 |
| UCITS/Other UCIs in accordance with Article 41 (1) e) of the amended Luxembourg law of 17 December 2010 |  |  |
| Investment funds, open end |  |  |
| Ireland |  |  |  |  |
| EUR | AMBIENTA X ICAV-AMBIENTA X ALPHA FUND - ACCUM-F- EUR | 2 641.48 | 284 161.21 | 0.08 |
| EUR | KEPLER LIQUID STRATEGIES ICAV - KLS ARETE MACRO FUND-SI- EUR | 3 493.67 | 392 269.67 | 0.11 |
| USD | MAN FUNDS VI PLC-MAN AHL TARGETRISK-INU-USD-CAP | 34 637.45 | 4 704 458.59 | 1.33 |
| EUR | MERIAN GLOBAL FUNDS PLC-MER GBL EQ AB RETRN-I-ACC-EUR HDG | 214 630.73 | 373 392.36 | 0.11 |
| EUR | TAGES INTERNATIONAL FUNDS ICAV ACCUM SHS INSTIT. FD EUR | 3 110.93 | 330 790.73 | 0.09 |
| USD | UBS (IRL) ETF PLC-MSCI USA UCITS-ACC-A-USD-ETF | 2 119 699.00 | 46 855 946.40 | 13.24 |
| USD | UBS IRL FND SOLUTIONS PLC-MSCI USA SF INDEX-SHS-A-USD-ACC | 193 401.00 | 22 130 799.07 | 6.25 |
| USD | UBS(IRL)FUND SOLUTION PLC-MSCI USA SF UCITS SHS-A-ETF-ACC | 622 741.00 | 68 825 335.32 | 19.44 |
| Total Ireland |  | 143 897 153.35 | 40.65 |
| Luxembourg |  |  |  |
| EUR	ALMA PLATINUM IV UBS MULTI-STRATEGY ALTERNATIVES-I0C-E-CAP | 627.37 | 5 912 105.23 | 1.67 |
| USD	AQR UCITS FUNDS - GLOBAL RISK PARITY UCITS FUND-A2-CAP | 30 724.48 | 3 749 615.54 | 1.06 |
| EUR	DB PLATINUM IV SYSTEMATIC ALPHA-SHS I1C-E-CAPITALISATION | 2 557.11 | 356 998.05 | 0.10 |
| USD	FOCUSED SICAV - HIGH GRADE BOND USD U-X-ACC | 3 746.00 | 35 406 480.26 | 10.00 |
| USD	FOCUSED SICAV - HIGH GRADE LONG TERM BOND USD U-X-ACC | 4 046.00 | 35 765 062.06 | 10.10 |
| USD	INVESCO FUNDS SICAV BAL RISK ALLOCATION-PI1-USD HDG-CAP | 212 794.52 | 2 708 874.27 | 0.77 |
| EUR	LUMYNA-MW ESG MRKT NUTRL TOPS UCITS FD-SHS-B-CAPITALISATION | 2 447.68 | 273 382.34 | 0.08 |
| EUR	SCHRODER GAIA WELLINGTON PAGOSA-E-EUR HEDGED- CAPITALISATION | 3 948.93 | 437 787.92 | 0.12 |
| USD	UBS (LUX) BOND FUND-EURO HIGH YIELD (EUR)(USD HEDGED) F-ACC | 24 424.00 | 2 898 640.32 | 0.82 |
| USD	UBS (LUX) BOND SICAV - USD HIGH YIELD (USD) F-ACC | 13 030.00 | 4 226 932.00 | 1.19 |
| USD	UBS (LUX) BOND SICAV - EMERG ECON CORPORATES (USD) F-ACC | 53 918.00 | 5 759 520.76 | 1.63 |
| USD	UBS (LUX) EMERGING ECONOMIES FUND - GLOBAL BONDS (USD) F-ACC | 5 078.00 | 8 687 645.52 | 2.45 |
| USD	UBS (LUX) MONEY MARKET FUND - USD SUSTAINABLE U-X-ACC | 2.00 | 22 755.92 | 0.01 |
| Total Luxembourg |  | 106 205 800.19 | 30.00 |
| Total Investment funds, open end |  | 250 102 953.54 | 70.65 |
| Total UCITS/Other UCIs in accordance with Article 41 (1) e) of the amended Luxembourg law of 17 December 2010 |  | 250 102 953.54 | 70.65 |
| Total investments in securities |  | 338 746 944.91 | 95.69 |

| Derivative instruments |  |
| --- | --- |
| Derivative instruments listed on an official stock exchange |
| Financial Futures on bonds |
|  |  |  |  |
| USD	US 10YR ULTRA NOTE FUTURE 22.03.23 | 1.00 | 31.25 | 0.00 |
| USD	US 10YR TREASURY NOTE FUTURE 22.03.23 | 1.00 | 296.88 | 0.00 |
| USD	US 2YR TREASURY NOTE FUTURE 31.03.23 | -1.00 | -460.94 | 0.00 |
| USD	US 5YR TREASURY NOTE FUTURE 31.03.23 | 1.00 | 375.00 | 0.00 |
| USD	US LONG BOND FUTURE 22.03.23 | -1.00 | 554.69 | 0.00 |
| Total Financial Futures on bonds |  | 796.88 | 0.00 |
| Financial Futures on Indices |  |  |  |
|  |  |  |  |
| EUR	EURO STOXX 50 INDEX FUTURE 16.12.22 | -30.00 | -145 489.55 | -0.04 |
| CHF	SWISS MARKET INDEX FUTURE 16.12.22 | -3.00 | -17 244.82 | 0.01 |
| GBP	FTSE 100 INDEX FUTURE 16.12.22 | -7.00 | -25 759.17 | -0.01 |
| SEK	OMX 30 INDEX FUTURE 16.12.22 | -8.00 | -543.90 | 0.00 |
| USD	MINI MSCI EMERGING MARKETS INDEX FUTURE 16.12.22 | 454.00 | 688 155.00 | 0.19 |
| USD	S&P500 EMINI FUTURE 16.12.22 | -17.00 | -222 750.00 | -0.06 |
| HKD	HANG SENG INDEX FUTURE 29.12.22 | -1.00 | -5 489.72 | 0.00 |
| CAD	S&P/TSX 60 IX FUTURE 15.12.22 | -3.00 | -25 743.16 | -0.01 |
| JPY	TOPIX INDX FUTURE 08.12.22 | -6.00 | -25 440.73 | -0.01 |
| AUD	SPI 200 INDEX FUTURES 15.12.22 | -2.00 | -20 425.85 | -0.01 |
| Total Financial Futures on Indices |  | 199 268.10 | 0.06 |
| Total Derivative instruments listed on an official stock exchange |  | 200 064.98 | 0.06 |

UBS (Lux) Strategy SICAV – Systematic Allocation Portfolio Dynamic (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) |  |

Derivative instruments not listed on an official stock exchange and not traded on another regulated market
Swaps and forward swaps on indices
| USD USD | UBS/CMCI EXCESS RETURN INDEX TRS EQS REC PERF 22-03.04.23 UBS/CMCI COMPOSITE USD INDEX SWAP PAY 0.380% 22-03.04.23 | 9 039 613.33 | 392 242.08 | 0.11 |
| --- | --- | --- | --- | --- |
| Total Swaps and forward swaps on indices | 392 242.08 | 0.11 |
| Total Derivative instruments not listed on an official stock exchange and not traded on another regulated market | 392 242.08 | 0.11 |
| Total Derivative instruments | 592 307.06 | 0.17 |
| Forward Foreign Exchange contracts |  |  |
| Currency purchased/Amount purchased/Currency sold/Amount sold/Maturity date |  |  |

| USD | 7 961 890.41 | JPY | 1 147 120 667.00 | 12.1.2023 | -306 998.83 | -0.09 |
| --- | --- | --- | --- | --- | --- | --- |
| USD | 2 486 864.16 | AUD | 3 960 000.00 | 12.1.2023 | -170 227.41 | -0.05 |
| USD | 7 842 394.22 | GBP | 7 079 292.50 | 12.1.2023 | -601 397.44 | -0.17 |
| USD | 4 325 065.53 | CAD | 5 979 000.00 | 12.1.2023 | -88 548.66 | -0.03 |
| USD | 900 964.91 | DKK | 6 850 000.00 | 12.1.2023 | -50 894.10 | -0.01 |
| USD | 97 653.47 | NZD | 175 000.00 | 12.1.2023 | -11 111.40 | 0.00 |
| USD | 1 442 487.73 | SEK | 16 230 933.53 | 12.1.2023 | -84 401.96 | -0.02 |
| USD | 18 154 367.73 | EUR | 18 551 044.72 | 12.1.2023 | -1 015 568.65 | -0.29 |
| USD | 1 403 456.02 | HKD | 11 000 000.00 | 12.1.2023 | -5 280.31 | 0.00 |
| USD | 3 840 598.06 | CHF | 3 795 346.60 | 12.1.2023 | -165 476.75 | -0.05 |
| USD | 140 428.37 | ILS | 500 000.00 | 12.1.2023 | -4 807.65 | 0.00 |
| USD | 186 215.10 | NOK | 2 000 000.00 | 12.1.2023 | -14 657.42 | 0.00 |
| USD | 421 071.47 | SGD | 605 000.00 | 12.1.2023 | -20 567.13 | -0.01 |
| EUR | 500 000.00 | USD | 496 462.40 | 12.1.2023 | 20 218.38 | 0.01 |
| CAD | 370 000.00 | USD | 270 186.79 | 12.1.2023 | 2 942.04 | 0.00 |
| HKD | 3 300 000.00 | USD | 420 717.78 | 12.1.2023 | 1 903.12 | 0.00 |
| SEK | 3 500 000.00 | USD | 318 749.83 | 12.1.2023 | 10 505.04 | 0.00 |
| USD | 10 810 677.40 | EUR | 10 294 046.00 | 16.2.2023 | 147 756.73 | 0.04 |
| USD | 6 485 264.40 | JPY | 893 720 668.00 | 16.2.2023 | 14 052.85 | 0.00 |
| CHF | 47 995 800.00 | USD | 51 403 051.25 | 12.1.2023 | -742 390.76 | -0.21 |
| EUR | 51 505 400.00 | USD | 53 927 853.48 | 12.1.2023 | -704 153.35 | -0.20 |
| USD | 2 879 481.94 | AUD | 4 240 000.00 | 16.2.2023 | 30 409.99 | 0.01 |
| SGD | 6 840 700.00 | USD | 5 004 202.30 | 12.1.2023 | -10 620.17 | 0.00 |
| USD | 442 853.00 | SGD | 605 000.00 | 16.2.2023 | 988.99 | 0.00 |
| USD | 967 213.58 | DKK | 6 850 000.00 | 16.2.2023 | 12 717.33 | 0.00 |
| USD | 1 229 999.89 | SEK | 12 730 933.00 | 16.2.2023 | 29 963.54 | 0.01 |
| USD | 201 777.32 | NOK | 2 000 000.00 | 16.2.2023 | 653.27 | 0.00 |
| USD | 147 435.35 | ILS | 500 000.00 | 16.2.2023 | 1 852.48 | 0.00 |
| USD | 984 784.23 | HKD | 7 700 000.00 | 16.2.2023 | -1 437.07 | 0.00 |
| USD | 108 131.80 | NZD | 175 000.00 | 16.2.2023 | -684.62 | 0.00 |
| USD | 2 823 870.99 | CHF | 2 624 347.00 | 16.2.2023 | 43 249.35 | 0.01 |
| USD | 4 509 395.29 | GBP | 3 779 000.00 | 16.2.2023 | -1 757.83 | 0.00 |
| USD | 4 210 449.04 | CAD | 5 575 000.00 | 16.2.2023 | 93 051.44 | 0.03 |
| GBP | 3 322 500.00 | USD | 3 961 416.75 | 12.1.2023 | 1 478.95 | 0.00 |
| CHF | 1 176 600.00 | USD | 1 255 858.75 | 12.1.2023 | -13 930.64 | 0.00 |
| EUR | 938 600.00 | USD | 980 407.97 | 12.1.2023 | -10 494.82 | 0.00 |
| GBP | 90 200.00 | USD | 107 580.56 | 12.1.2023 | 5.05 | 0.00 |
| SGD | 188 900.00 | USD | 137 939.70 | 12.1.2023 | -46.26 | 0.00 |
| USD | 277 985.57 | EUR | 267 500.00 | 12.1.2023 | 1 561.35 | 0.00 |
| USD | 218 373.92 | CHF | 206 700.00 | 12.1.2023 | 197.36 | 0.00 |
| GBP | 430 000.00 | USD | 507 752.17 | 12.1.2023 | 5 128.24 | 0.00 |
| GBP | 420 000.00 | USD | 496 364.40 | 16.2.2023 | 5 007.47 | 0.00 |
| USD | 257 168.75 | EUR | 250 000.00 | 12.1.2023 | -1 171.64 | 0.00 |
| USD | 257 819.50 | EUR | 250 000.00 | 16.2.2023 | -1 138.95 | 0.00 |
| EUR | 1 100 000.00 | USD | 1 144 615.45 | 12.1.2023 | -7 917.74 | 0.00 |
| EUR | 1 100 000.00 | USD | 1 147 470.39 | 16.2.2023 | -8 053.22 | 0.00 |
| USD | 1 370 711.90 | EUR | 1 316 400.00 | 12.1.2023 | 10 394.75 | 0.00 |
| USD | 154 024.30 | SGD | 211 800.00 | 12.1.2023 | -585.71 | 0.00 |
| Total Forward Foreign Exchange contracts | -3 610 282.77 | -1.02 |
|  |  |  |
| Cash at banks, deposits on demand and deposit accounts and other liquid assets | 18 418 099.26 | 5.20 |
| Other assets and liabilities | -128 791.04 | -0.04 |
| Total net assets | 354 018 277.42 | 100.00 |

UBS (Lux) Strategy SICAV – Systematic Allocation Portfolio Dynamic (USD) Semi-Annual Report as of 30 November 2022

Translation (ENFR, 2022-11-30):
# UBS (Lux) Strategy SICAV
– Fixed Income Sustainable (EUR)
| Données principales |  |
| --- | --- |
|  | ISIN | 30.11.2022 | 31.5.2022 | 31.5.2021 |
| Actif net en EUR |  | 33 249 057.54 | 36 646 343.84 | 46 565 668.42 |
| Catégorie P-acc | LU0042744747 |  |  |  |
| Actions en circulation |  | 154 414.2580 | 163 009.2580 | 188 335.1020 |
| Valeur nette d’inventaire par action en EUR |  | 196.82 | 206.19 | 225.17 |
| Prix d’émission et de rachat par action en EUR 1 |  | 196.82 | 206.19 | 225.17 |
| Catégorie Q-acc | LU0943062561 |  |  |  |
| Actions en circulation |  | 29 654.3730 | 30 131.4780 | 37 961.7510 |
| Valeur nette d’inventaire par action en EUR |  | 96.36 | 100.73 | 109.54 |
| Prix d’émission et de rachat par action en EUR 1 |  | 96.36 | 100.73 | 109.54 |
| 1  Voir note 1 |  |  |  |  |


## Structure du portefeuille-titres
Répartition géographique en % de l’actif net	
| Luxembourg | 58.69 |
| --- | --- |
| Irlande | 12.14 |
| Supranational | 10.83 |
| Etats-Unis | 10.31 |
| Philippines | 4.44 |
| Grande-Bretagne | 1.33 |
| Côte d’Ivoire | 0.78 |
| Total | 98.52 |

Répartition économique en % de l’actif net	
Fonds de placement	70.83
Organisations supranationales	27.69
UBS (Lux) Strategy SICAV – Fixed Income Sustainable (EUR) Rapport semestriel au 30 novembre 2022

## Etat des actifs nets
Actif	30.11.2022
EUR
Portefeuille-titres, cours d’achat	33 660 287.97
| Portefeuille-titres, plus- (moins-) value non-réalisée | 	-902 906.37	 |
| --- | --- |
| Total portefeuille-titres (note 1) | 32 757 381.60 |
| Avoirs en banque, dépôts à vue et à terme | 370 574.53 |
| Intérêts à recevoir sur titres | 36 525.89 |
| Intérêts à recevoir sur liquidités | 5.69 |
| Frais payés d’avance | 56 855.93 |
| Bénéfice non réalisé sur contrats de change à terme (note 1) | 342 791.16 |
| Total Actif | 33 564 134.80 |
|  |  |
| Passif |  |
| Crédit en compte courant | -0.61 |
| A payer sur achats de titres (note 1) | -260 863.45 |
| A payer sur rachats | -19 642.00 |
| Provisions pour commission de gestion forfaitaire (note 2) | -28 392.04 |
| Provisions pour taxe d’abonnement (note 3) | -1 112.59 |
| Provisions pour autres commissions et frais (note 2) | 	-5 066.57	 |
| Total des Provisions pour frais | -34 571.20 |
| Total Passif | -315 077.26 |
|  |  |
| Actifs nets à la fin de la période | 33 249 057.54 |
| Etat des opérations | EUR |
| Revenus | 1.6.2022-30.11.2022 |
| Revenus d’intérêts sur liquidités | 5 055.68 |
| Intérêts sur titres | 64 214.37 |
| Revenus nets sur prêts de titres (note 10) | 1 973.81 |
| Autres revenus (note 4) | 1 311.20 |
| Total des Revenus | 72 555.06 |
|  |  |
| Charges |  |
| Commission de gestion forfaitaire (note 2) | -181 052.06 |
| Taxe d’abonnement (note 3) | -3 446.87 |
| Autres commissions et frais (note 2) | -5 002.90 |
| Charges d’intérêts sur liquidités et crédit en compte courant | -4.36 |
| Total des Charges | -189 506.19 |
|  |  |
| Revenus (Pertes) net(te)s des investissements | -116 951.13 |
|  |  |
| Bénéfices (pertes) réalisé(e)s (note 1) |  |
| Bénéfice (perte) réalisé(e) sur titres évalués à la valeur de marché hors options | 212 402.68 |
| Bénéfice (perte) réalisé(e) sur contrats de change à terme | -1 352 269.08 |
| Bénéfice (perte) réalisé(e) de change réalisé(e) | -31 954.66 |
| Total des Bénéfices (pertes) réalisé(e)s | -1 171 821.06 |
|  |  |
| Bénéfice (perte) net(te) réalisé(e) au cours de la période | -1 288 772.19 |
|  |  |
| Variations des plus- (moins-) values non-réalisées (note 1) |  |
| Plus- (Moins-) value non réalisée sur titres évalués à la valeur de marché hors options | -673 359.99 |
| Plus- (Moins-) value non réalisée sur contrats de change à terme | 310 655.44 |
| Total des Variations des plus- (moins-) values non-réalisées | -362 704.55 |
|  |  |
| Augmentation/(diminution) nette de l’actif net issue de l’activité | -1 651 476.74 |

UBS (Lux) Strategy SICAV – Fixed Income Sustainable (EUR)
Rapport semestriel au 30 novembre 2022
| Variations de l’actif net |  |
| --- | --- |
|  | EUR |
|  | 1.6.2022-30.11.2022 |
| Actif net au début de la période | 36 646 343.84 |
| Souscriptions | 462.31 |
| Rachats | 	-1 746 271.87	 |
| Souscriptions (Rachats) net(te)s | -1 745 809.56 |
| Revenus (Pertes) net(te)s des investissements | -116 951.13 |
| Total des Bénéfices (pertes) réalisé(e)s | -1 171 821.06 |
| Total des Variations des plus- (moins-) values non-réalisées | 	-362 704.55	 |
| Augmentation/(diminution) nette de l’actif net issue de l’activité | -1 651 476.74 |
| Actifs nets à la fin de la période | 33 249 057.54 |
| Evolution des actions en circulation |  |
|  | 1.6.2022-30.11.2022 |
| Catégorie | P-acc |
| Nombre d’actions en circulation au début de la période | 163 009.2580 |
| Nombre d’actions émises | 2.3080 |
| Nombre d’actions rachetées | -8 597.3080 |
| Nombre d’actions en circulation à la fin de la période | 154 414.2580 |
| Catégorie | Q-acc |
| Nombre d’actions en circulation au début de la période | 30 131.4780 |
| Nombre d’actions émises | 0.0000 |
| Nombre d’actions rachetées | -477.1050 |
| Nombre d’actions en circulation à la fin de la période | 29 654.3730 |

UBS (Lux) Strategy SICAV – Fixed Income Sustainable (EUR) Rapport semestriel au 30 novembre 2022

## Etat du portefeuille-titres et autres actifs nets au 30 novembre 2022
| Dénomination | Nombre/ | Evaluation en EUR | 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	AFRICAN DEVELOPMENT BANK 0.87500% 21-23.03.26 | 200 000.00 | 174 109.55 | 0.52 |
| USD	ASIAN DEVELOPMENT BANK 2.62500% 19-30.01.24 | 250 000.00 | 237 333.43 | 0.71 |
| USD	EUROPEAN BANK FOR RECONSTR & DEVT 0.50000% 20-19.05.25 | 200 000.00 | 177 293.14 | 0.53 |
| USD	INTER-AMERICAN DEVELOPMENT BANK 2.37500% 17-07.07.27 | 150 000.00 | 135 763.96 | 0.41 |
| USD	INTER-AMERICAN DEVELOPMENT BANK 2.62500% 19-16.01.24 | 350 000.00 | 332 643.62 | 1.00 |
| USD	INTER-AMERICAN DEVELOPMENT BANK 2.00000% 19-23.07.26 | 100 000.00 | 90 217.59 | 0.27 |
| USD	INTER-AMERICAN DEVELOPMENT BANK 0.25000% 20-15.11.23 | 150 000.00 | 139 265.36 | 0.42 |
| USD	INTER-AMERICAN DEVELOPMENT BANK 0.50000% 21-23.09.24 | 275 000.00 | 248 713.88 | 0.75 |
| USD	INTER-AMERICAN DEVELOPMENT BANK 1.50000% 22-13.01.27 | 200 000.00 | 175 832.24 | 0.53 |
| USD	INTERNATIONAL BANK FOR REC & DEV 2.25000% 22-28.03.24 | 75 000.00 | 70 633.63 | 0.21 |
| USD	INTERNATIONAL BK FOR RECONST & DEV 0.87500% 21-15.07.26 | 100 000.00 | 86 560.85 | 0.26 |
| USD	INTERNATIONAL DEVELOPMENT ASSOC-REG-S 0.75000% 20-10.06.27 | 50 000.00 | 41 621.50 | 0.13 |
| USD	INTERNATIONAL DEVELOPMENT ASSOC-REG-S 0.37500% 20-23.09.25 | 50 000.00 | 43 603.60 | 0.13 |
| USD	INTERNATIONAL DEVELOPMENT ASSOC-REG-S 0.87500% 21-28.04.26 | 175 000.00 | 152 711.03 | 0.46 |
| USD	INTL BANK FOR RECONSTRUCTION & DEVT 0.25000% 20-24.11.23 | 125 000.00 | 116 291.96 | 0.35 |
| USD	INTL BK FOR RECONSTR & DEVT WORLD BANK 1.50000% 19-28.08.24 | 250 000.00 | 230 595.05 | 0.69 |
| USD	INTL BK FOR RECONSTR & DEVT WORLD BANK 2.50000% 19-19.03.24 | 275 000.00 | 259 917.93 | 0.78 |
| USD	INTL BK FOR RECONSTR & DEVT WORLD BANK 1.62500% 20-15.01.25 | 175 000.00 | 160 899.42 | 0.49 |
| USD	INTL BK FOR RECONSTR & DEVT WORLD BANK 0.50000% 20-28.10.25 | 300 000.00 | 262 173.87 | 0.79 |
| Total USD |  | 3 136 181.61 | 9.43 |
| Total des Billets, taux fixe |  | 3 136 181.61 | 9.43 |
| Medium-Term Notes, taux fixe |  |  |  |
| USD |  |  |  |
| USD	AFRICAN DEVELOPMENT BANK 0.87500% 21-22.07.26 | 100 000.00 | 85 577.24 | 0.26 |
| USD	AFRICAN DEVELOPMENT BANK 3.37500% 22-07.07.25 | 100 000.00 | 94 890.53 | 0.29 |
| USD	AFRICAN DEVELOPMENT BANK 4.37500% 22-03.11.27 | 75 000.00 | 73 890.43 | 0.22 |
| USD	ASIAN DEVELOPMENT BANK 2.00000% 15-22.01.25 | 175 000.00 | 161 869.73 | 0.49 |
| USD	ASIAN DEVELOPMENT BANK 2.00000% 16-24.04.26 | 75 000.00 | 67 818.68 | 0.20 |
| USD	ASIAN DEVELOPMENT BANK 1.75000% 16-14.08.26 | 50 000.00 | 44 305.77 | 0.13 |
| USD	ASIAN DEVELOPMENT BANK 1.50000% 19-18.10.24 | 100 000.00 | 91 897.48 | 0.28 |
| USD	ASIAN DEVELOPMENT BANK 0.37500% 20-03.09.25 | 150 000.00 | 130 782.64 | 0.39 |
| USD	ASIAN DEVELOPMENT BANK 0.50000% 21-04.02.26 | 325 000.00 | 280 990.83 | 0.84 |
| USD	ASIAN DEVELOPMENT BANK 1.00000% 21-14.04.26 | 300 000.00 | 262 857.29 | 0.79 |
| USD	ASIAN DEVELOPMENT BANK 0.37500% 21-11.06.24 | 300 000.00 | 273 561.89 | 0.82 |
| USD	ASIAN DEVELOPMENT BANK 0.62500% 21-08.10.24 | 150 000.00 | 135 807.80 | 0.41 |
| USD	ASIAN DEVELOPMENT BANK 1.5000% 22-20.01.27 | 150 000.00 | 131 880.83 | 0.40 |
| USD	ASIAN DEVELOPMENT BANK 1.62500% 22-15.03.24 | 150 000.00 | 140 271.45 | 0.42 |
| USD	ASIAN DEVELOPMENT BANK 2.87500% 22-06.05.25 | 200 000.00 | 188 140.25 | 0.57 |
| USD	ASIAN DEVELOPMENT BANK 3.12500% 22-20.08.27 | 450 000.00 | 420 911.61 | 1.27 |
| USD	ASIAN DEVELOPMENT BANK 4.12500% 22-27.09.24 | 75 000.00 | 72 300.29 | 0.22 |
| USD	EUROPEAN BANK FOR RECONSTR & DEVT 0.50000% 20-25.11.25 | 225 000.00 | 195 225.75 | 0.59 |
| USD	INTER-AMERICAN DEVELOPMENT BANK 2.00000% 16-02.06.26 | 100 000.00 | 90 408.73 | 0.27 |
| USD	INTER-AMERICAN DEVELOPMENT BANK 1.75000% 20-14.03.25 | 175 000.00 | 160 678.86 | 0.48 |
| USD	INTER-AMERICAN DEVELOPMENT BANK 0.87500% 20-03.04.25 | 175 000.00 | 157 301.25 | 0.47 |
| USD	INTER-AMERICAN DEVELOPMENT BANK 0.87500% 21-20.04.26 | 150 000.00 | 130 800.87 | 0.39 |
| USD	INTERNATIONAL FINANCE CORP 0.37500% 20-16.07.25 | 175 000.00 | 153 995.44 | 0.46 |
| USD	INTERNATIONAL FINANCE CORP 0.75000% 21-08.10.26 | 200 000.00 | 170 806.87 | 0.51 |
| USD	INTERNATIONAL FINANCE CORP 3.62500% 22-15.09.25 | 75 000.00 | 71 694.10 | 0.22 |
| USD	INTL BK FOR RECONSTR & DEVT WORLD BANK 1.87500% 16-27.10.26 | 100 000.00 | 89 220.00 | 0.27 |
| Total USD |  | 3 877 886.61 | 11.66 |
| Total des Medium-Term Notes, taux fixe |  | 3 877 886.61 | 11.66 |
| Obligations, taux fixe |  |  |  |
| USD |  |  |  |
| USD	ASIAN DEVELOPMENT BANK 0.62500% 20-29.04.25 | 100 000.00 | 89 060.40 | 0.27 |
| USD	EUROPEAN BANK FOR RECONSTR & DEVT 1.62500% 19-27.09.24 | 75 000.00 | 69 172.97 | 0.21 |
| USD	INTER-AMERICAN DEVELOPMENT BANK 2.12500% 15-15.01.25 | 225 000.00 | 208 873.46 | 0.63 |
| USD	INTER-AMERICAN DEVELOPMENT BANK 0.62500% 20-15.07.25 | 300 000.00 | 265 518.55 | 0.80 |
| USD	INTER-AMERICAN DEVELOPMENT BANK 0.62500% 20-16.09.27 | 50 000.00 | 41 496.05 | 0.12 |
| USD	INTERNATIONAL BANK RECONSTRUCTION & DLP 3.12500% 22-15.06.27 | 250 000.00 | 234 555.43 | 0.71 |
| USD	INTL BK FOR RECONSTR & DEVT WORLD BANK 2.50000% 14-25.11.24 | 200 000.00 | 187 046.26 | 0.56 |
| USD	INTL BK FOR RECONSTR & DEVT WORLD BANK 2.50000% 15-29.07.25 | 200 000.00 | 185 955.52 | 0.56 |
| USD	INTL BK FOR RECONSTR & DEVT WORLD BANK 0.75000% 20-11.03.25 | 275 000.00 | 246 966.31 | 0.74 |
| USD	INTL BK FOR RECONSTR & DEVT WORLD BANK 0.62500% 20-22.04.25 | 450 000.00 | 401 373.56 | 1.21 |
| USD	INTL BK FOR RECONSTR & DEVT WORLD BANK 0.37500% 20-28.07.25 | 300 000.00 | 263 499.86 | 0.79 |
| Total USD |  | 2 193 518.37 | 6.60 |
| Total des Obligations, taux fixe |  | 2 193 518.37 | 6.60 |
| Total des Titres et instruments du marché monétaire négociés sur une bourse officielle |  | 9 207 586.59 | 27.69 |

UBS (Lux) Strategy SICAV – Fixed Income Sustainable (EUR)
Rapport semestriel au 30 novembre 2022
| Dénomination | Nombre/ | Evaluation en EUR | 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
| Irlande |  |
| --- | --- |
| USD | FEDERATED HERMES SDG ENGAGEMENT HIGH-M- USD | 362 838.00 | 679 195.80 | 2.04 |
| EUR | RECORD UCITS ICAV - RECORD EM SUSTAINABLE FIN-A- HEDGED EUR | 10 510.00 | 992 575.96 | 2.99 |
| EUR | XTRACKERS (IE) PLC - XTRACKERS USD CORPORATE GRE EN-1C- EUR | 47 646.00 | 1 181 096.69 | 3.55 |
| EUR | XTRACKERS USD CORPORATE GREEN BOND-ACCUM SHS-1C-HEDGED EUR | 53 056.00 | 1 184 422.14 | 3.56 |
| Total Irlande |  | 4 037 290.59 | 12.14 |
| Luxembourg |  |  |  |
| USD	FOCUSED FUND - CORPORATE BOND SUSTAINABLE USD U-X-ACC | 56.50 | 498 436.29 | 1.50 |
| USD	FOCUSED SICAV - US CORPORATE BOND SUSTAINABLE USD U-X-ACC | 57.00 | 498 956.63 | 1.50 |
| USD	UBS (LUX) BD SICAV-USD INVES GRA CORPOR SUSTAI (USD) U-X-ACC | 558.45 | 6 026 666.30 | 18.13 |
| EUR	UBS (LUX) BOND SICAV - EUR CORP SUSTAINABLE (EUR) U-X-ACC | 511.50 | 5 706 345.15 | 17.16 |
| EUR	UBS (LUX) BOND SICAV - GREEN SOC SUSTAINABLE BD(EUR)U-X-ACC | 706.00 | 6 003 661.62 | 18.06 |
| EUR	UBS (LUX) MONEY MARKET FUND - EUR SUSTAINABLE U-X-ACC | 77.00 | 778 438.43 | 2.34 |
| Total Luxembourg |  | 19 512 504.42 | 58.69 |
| Total des Fonds d’investissement, ouvert |  | 23 549 795.01 | 70.83 |
| Total des OPCVM/Autres OPC au sens de l’article 41 (1) e) de la loi luxembourgeoise du 17 décembre 2010, telle que modifiée |  | 23 549 795.01 | 70.83 |
| Total du Portefeuille-titres |  | 32 757 381.60 | 98.52 |
| Contrats de change à terme |  |  |  |
| Devise achetée/Montant acheté/Devise vendue/Montant vendu/Date de maturité |  |  |  |

| USD | 170 000.00 | EUR | 173 848.66 | 12.1.2023 | -9 337.44 | -0.03 |
| --- | --- | --- | --- | --- | --- | --- |
| CHF | 338 000.00 | EUR | 349 743.37 | 12.1.2023 | -4 494.19 | -0.01 |
| GBP | 10 088.93 | EUR | 11 430.28 | 12.1.2023 | 214.73 | 0.00 |
| NZD | 500.00 | EUR | 285.42 | 12.1.2023 | 15.30 | 0.00 |
| EUR | 4 815.59 | JPY | 678 594.00 | 12.1.2023 | 81.93 | 0.00 |
| EUR | 9 498 166.52 | USD | 9 291 888.19 | 12.1.2023 | 506 284.82 | 1.52 |
| USD | 175 000.00 | EUR | 177 590.80 | 12.1.2023 | -8 241.01 | -0.03 |
| AUD | 517 202.61 | NZD | 575 000.00 | 12.1.2023 | -10 031.73 | -0.03 |
| USD | 153 000.00 | EUR | 155 167.54 | 12.1.2023 | -7 107.44 | -0.02 |
| USD | 180 000.00 | EUR | 175 114.53 | 12.1.2023 | -926.18 | 0.00 |
| EUR | 8 255 210.93 | USD | 8 669 199.03 | 16.2.2023 | -114 059.40 | -0.35 |
| AUD | 518 732.78 | EUR | 335 688.06 | 16.2.2023 | 816.27 | 0.00 |
| EUR | 14 759.83 | CAD | 20 500.00 | 16.2.2023 | 143.42 | 0.00 |
| CHF | 337 000.00 | EUR | 345 599.55 | 16.2.2023 | -883.71 | 0.00 |
| NOK | 1 000.00 | EUR | 96.12 | 16.2.2023 | 0.96 | 0.00 |
| EUR | 13 612.35 | GBP | 11 974.75 | 16.2.2023 | -187.88 | 0.00 |
| EUR | 338 279.60 | NZD | 574 500.00 | 16.2.2023 | -6 590.29 | -0.02 |
| EUR | 4 290.79 | JPY | 620 333.00 | 16.2.2023 | -45.51 | 0.00 |
| EUR | 207 937.46 | USD | 217 000.00 | 16.2.2023 | -1 554.98 | 0.00 |
| EUR | 208 463.82 | USD | 217 000.00 | 12.1.2023 | -1 529.92 | 0.00 |
| EUR | 77 561.24 | USD | 80 000.00 | 12.1.2023 | 144.19 | 0.00 |
| EUR | 77 366.00 | USD | 80 000.00 | 16.2.2023 | 133.76 | 0.00 |
| NZD | 278 000.00 | AUD | 257 512.56 | 12.1.2023 | -5.58 | 0.00 |
| NZD | 278 000.00 | AUD | 257 277.10 | 16.2.2023 | -14.49 | 0.00 |
| EUR | 171 893.42 | AUD | 265 000.00 | 16.2.2023 | -13.30 | 0.00 |
| NZD | 297 000.00 | EUR | 178 646.94 | 12.1.2023 | -17.16 | 0.00 |
| NZD | 297 000.00 | EUR | 178 291.43 | 16.2.2023 | -3.60 | 0.00 |
| EUR | 172 069.32 | AUD | 265 000.00 | 12.1.2023 | -0.41 | 0.00 |
| Total des Contrats de change à terme | 342 791.16 | 1.03 |
|  |  |  |
| Avoirs en banque, dépôts à vue et à terme et autres liquidités | 370 574.53 | 1.11 |
| Crédit en compte courant et autres engagements à court terme | -0.61 | 0.00 |
| Autres actifs et passifs | -221 689.14 | -0.66 |
| Total de l’Actif net | 33 249 057.54 | 100.00 |

UBS (Lux) Strategy SICAV – Fixed Income Sustainable (EUR) Rapport semestriel au 30 novembre 2022