# CARMIGNAC PORTFOLIO
## Patrimoine

#### Financial Statements as at 30/06/21

###### Statement of net assets as at 30/06/21
Expressed in EUR
| Assets | 1,976,693,883.96 |
| --- | --- |
| Securities portfolio at market value | 1,801,220,500.50 |
| Cost price | 1,641,729,876.26 |
| Unrealised profit on the securities portfolio | 159,490,624.24 |
| Options purchased at market value | 3,302,456.20 |
| Options purchased at cost | 2,878,762.27 |
| Cash at banks and liquidities | 100,269,262.96 |
| Interest receivable | 6,665,158.60 |
| Brokers receivable | 2,850,263.89 |
| Subscriptions receivable | 58,386,861.55 |
| Dividends receivable | 124,025.11 |
| Unrealised net appreciation on swaps | 3,789,129.60 |
| Other assets | 86,225.55 |
| Liabilities | 131,917,643.49 |
| Options sold at market value | 2,751,056.20 |
| Options sold at cost | 2,017,807.16 |
| Bank overdrafts | 20,739,909.67 |
| Brokers payable | 92,622,669.12 |
| Redemptions payable | 3,132,722.73 |
| Unrealised net depreciation on forward foreign exchange contracts | 5,160,514.68 |
| Unrealised net depreciation on financial futures | 4,333,385.42 |
| Other liabilities | 3,177,385.67 |
| Net asset value | 1,844,776,240.47 |


###### Key figures relating to the last 3 years
Period ending as at:	30/06/21	31/12/20	31/12/19
| Total Net Assets | EUR | 1,844,776,240.47 | 1,592,069,497.12 | 1,302,344,744.56 |
| --- | --- | --- | --- | --- |
| Class A EUR - Capitalisation Number of shares |  | 1,602,136 | 1,017,392 | 1,141,555 |
| Net asset value per share | EUR | 117.47 | 113.58 | 100.76 |
| Class Income A EUR - Distribution Number of shares |  | 800,813 | 800,727 | 999,569 |
| Net asset value per share | EUR | 86.15 | 85.37 | 79.60 |
| Class A EUR Y - Distribution Number of shares |  | 235,853 | 120,125 | 35,592 |
| Net asset value per share | EUR | 114.42 | 110.63 | 98.31 |
| Class A CHF Hedged - Capitalisation Number of shares |  | 21,799 | 21,859 | 24,591 |
| Net asset value per share | CHF | 114.17 | 110.61 | 98.44 |
| Class Income A CHF Hedged - Distribution Number of shares |  | 33,604 | 31,954 | 33,649 |
| Net asset value per share | CHF | 82.32 | 81.84 | 76.47 |
| Class A USD Hedged - Capitalisation Number of shares |  | 307,208 | 314,430 | 451,393 |
| Net asset value per share | USD | 129.29 | 124.60 | 109.11 |


###### Key figures relating to the last 3 years
Total Net Assets
Period ending as at:	30/06/21	31/12/20	31/12/19
EUR	1,844,776,240.47	1,592,069,497.12	1,302,344,744.56
| Class Income A USD Hedged - Distribution Number of shares |  | 4,322 | 4,406 | 5,080 |
| --- | --- | --- | --- | --- |
| Net asset value per share | USD | 103.12 | 101.93 | 93.59 |
| Class E EUR - Capitalisation Number of shares |  | 203,075 | 129,415 | 84,095 |
| Net asset value per share | EUR | 114.22 | 110.70 | 98.69 |
| Class Income E EUR - Distribution Number of shares |  | 147,726 | 140,834 | 147,998 |
| Net asset value per share | EUR | 83.57 | 83.03 | 77.79 |
| Class E USD Hedged - Capitalisation Number of shares |  | 20,379 | 20,697 | 31,267 |
| Net asset value per share | USD | 137.66 | 132.99 | 116.93 |
| Class Income E USD Hedged - Distribution Number of shares |  | 64,075 | 87,709 | 148,350 |
| Net asset value per share | USD | 98.91 | 97.96 | 90.42 |
| Class F EUR - Capitalisation Number of shares |  | 9,874,705 | 9,103,657 | 7,824,736 |
| Net asset value per share | EUR | 137.08 | 132.11 | 116.52 |
| Class Income F EUR - Distribution Number of shares |  | 135,016 | 121,342 | 96,888 |
| Net asset value per share | EUR | 90.01 | 88.94 | 82.41 |
| Class F EUR Y - Distribution Number of shares |  | 72,981 | 71,041 | 39,484 |
| Net asset value per share | EUR | 115.36 | 111.18 | 98.45 |
| Class F CHF Hedged - Capitalisation Number of shares |  | 784,315 | 782,355 | 821,025 |
| Net asset value per share | CHF | 131.03 | 126.53 | 111.95 |
| Class F GBP - Capitalisation Number of shares |  | 7,939 | 7,469 | 8,947 |
| Net asset value per share | GBP | 140.60 | 141.28 | 117.95 |
| Class F GBP Hedged - Capitalisation Number of shares |  | 10,658 | 11,793 | 21,983 |
| Net asset value per share | GBP | 142.12 | 136.65 | 120.50 |
| Class F USD Hedged - Capitalisation Number of shares |  | 60,659 | 56,511 | 70,188 |
| Net asset value per share | USD | 149.49 | 143.59 | 124.96 |

Quantity	Denomination	Quotation
currency
Market value	% of net
assets
| Transferable securities admitted to an official stock exchange listing	 1,326,175,645.16 | 71.89 |
| --- | --- |
| Shares | 719,786,579.12 | 39.02 |

| Cayman Islands |  | 73,981,812.23 | 4.01 |
| --- | --- | --- | --- |
| 141,811 GDS HOLDINGS -A- ADR REP 8 SHS-A- | USD | 9,385,905.55 | 0.51 |
| 322,260 JD HEALTH INTERNATIONAL INC | HKD | 3,894,623.81 | 0.21 |
| 495,369 JD.COM INC SADR REPR 2 SHS -A- | USD | 33,337,886.74 | 1.81 |
| 1,770,929 WUXI BIOLOGICS | HKD | 27,363,396.13 | 1.48 |
| China |  | 41,897,191.14 | 2.27 |
| 958,659 CHONGQING ZHIFEI BIOLOGICAL PRODUCTS CO | CNY | 23,361,421.32 | 1.27 |
| 3,176,066 HAIER SMART HOME CO LTD - REG SHS -A- | CNY | 10,739,348.67 | 0.58 |
| 1,146,665 ZHUHAI GREE ELECTRICAL APPLIANCES INC-A- | CNY | 7,796,421.15 | 0.42 |
| Denmark |  | 11,751,320.89 | 0.64 |
| 99,302 ORSTED | DKK | 11,751,320.89 | 0.64 |
| France |  | 43,851,467.02 | 2.38 |
| 84,243 ESSILORLUXOTTICA SA | EUR | 13,111,580.52 | 0.71 |
| 138,821 SAFRAN SA | EUR | 16,230,951.32 | 0.88 |
| 183,797 WORLDLINE SA | EUR | 14,508,935.18 | 0.79 |
| Germany |  | 32,577,570.25 | 1.77 |
| 41,966 DELIVERY HERO | EUR | 4,675,012.40 | 0.25 |
| 169,647 PUMA AG | EUR | 17,058,005.85 | 0.93 |
| 1 VOLKSWAGEN AG | EUR | 276.80 | 0.00 |
| 51,346 VOLKSWAGEN AG VORZ.AKT | EUR | 10,844,275.20 | 0.59 |
| India |  | 12,187,836.76 | 0.66 |
| 717,226 HDFC BANK - REGISTERED SHS | INR | 12,187,836.76 | 0.66 |
| Ireland |  | 12,911,242.71 | 0.70 |
| 64,626 MEDTRONIC HLD | USD | 6,764,504.07 | 0.37 |
| 385,134 RYANAIR HLDGS | EUR | 6,146,738.64 | 0.33 |
| Japan |  | 9,991,623.81 | 0.54 |
| 11,200 NINTENDO CO LTD | JPY | 5,498,611.38 | 0.30 |
| 12,300 TOKYO ELECTRON LTD | JPY | 4,493,012.43 | 0.24 |
| Panama |  | 1,003,587.15 | 0.05 |
| 45,150 CARNIVAL CORPORATION | USD | 1,003,587.15 | 0.05 |
| South Korea |  | 38,286,816.94 | 2.08 |
| 50,819 HYUNDAI MOTOR CO LTD | KRW | 9,113,544.48 | 0.49 |
| 21,786 LG CHEM | KRW | 13,866,029.18 | 0.75 |
| 253,319 SAMSUNG ELECTRONICS CO LTD | KRW | 15,307,243.28 | 0.84 |
| Spain |  | 18,765,882.87 | 1.02 |
| 43,802 AENA SME SA | EUR | 6,057,816.60 | 0.33 |
| 427,737 INDITEX SHARE FROM SPLIT | EUR | 12,708,066.27 | 0.69 |
| The Netherlands |  | 4,949,321.00 | 0.27 |
| 2,402 ADYEN --- PARTS SOCIALES | EUR | 4,949,321.00 | 0.27 |
| United Kingdom |  | 28,453,652.39 | 1.54 |
| 193,342 ASTRAZENECA PLC | GBP | 19,556,043.87 | 1.06 |
| 16,359,289 LLOYDS BANKING GROUP PLC | GBP | 8,897,608.52 | 0.48 |
| United States of America |  | 389,177,253.96 | 21.09 |
| 35,497 ACCELERON PHARMA | USD | 3,756,234.53 | 0.20 |
| 175,870 ADVANCED MICRO DEVICES INC | USD | 13,929,900.58 | 0.76 |
| 9,600 ALPHABET INC -A- | USD | 19,766,577.28 | 1.07 |
| 8,652 AMAZON.COM INC | USD | 25,098,460.51 | 1.36 |
| 63,167 ANTHEM INC | USD | 20,336,588.75 | 1.10 |
| 124,074 CAPITAL ONE FINANCIAL CORP | USD | 16,184,338.53 | 0.88 |
| 25,489 COSTCO WHOLESALE CORP | USD | 8,504,285.88 | 0.46 |
| 142,910 FACEBOOK -A- | USD | 41,901,708.49 | 2.26 |
| 165,501 FIDELITY NATIONAL INFO SERVICES INC | USD | 19,771,082.44 | 1.07 |
| 204,314 GAP INC | USD | 5,797,424.83 | 0.31 |
| 88,282 GENERATION BIO CO | USD | 2,002,517.75 | 0.11 |
| 137,561 GOODRX HOLDINGS | USD | 4,177,056.76 | 0.23 |
| 131,185 INTERCONTINENTAL EXCHANGE INC | USD | 13,130,668.27 | 0.71 |
| 218,664 KINGSOFT CLOUD HOLDINGS LTD | USD | 6,256,235.37 | 0.34 |
| 25,464 LULULEMON ATHLETICA INC SHS WHEN ISSUED | USD | 7,836,745.16 | 0.42 |
| 29,079 MASTERCARD INC -A- | USD | 8,952,232.15 | 0.49 |
| 8,425 MERCADOLIBRE | USD | 11,067,021.46 | 0.60 |
| 109,245 MICROSOFT CORP | USD | 24,955,283.33 | 1.35 |
| 31,065 NETFLIX INC | USD | 13,836,616.62 | 0.75 |

| Quantity	Denomination | Quotation currency | Market value | % of net assets |
| --- | --- | --- | --- |
| 35,767 NOVAVAX - REGISTERED SHS | USD | 6,403,315.43 | 0.35 |
| 135,479 SALESFORCE.COM INC | USD | 27,905,772.27 | 1.51 |
| 18,679 SERVICENOW INC | USD | 8,655,910.66 | 0.47 |
| 20,509 SQUARE INC -A- | USD | 4,216,286.53 | 0.23 |
| 40,397 STRYKER CORP | USD | 8,847,552.75 | 0.48 |
| 162,785 T MOBILE USA INC | USD | 19,880,387.51 | 1.08 |
| 429,361 UBER TECH/REGSH | USD | 18,146,195.56 | 0.98 |
| 25,625 ULTA BEAUTY RG REGISTERED | USD | 7,471,419.39 | 0.41 |
| 33,284 UNITEDHEALTH GROUP INC | USD | 11,238,928.21 | 0.61 |
| 46,410 VISA INC -A- | USD | 9,150,506.96 | 0.50 |
| Bonds |  | 458,938,657.36 | 24.88 |
| Belgium |  | 4,636,778.58 | 0.25 |

| 4,644,000 EUROPEAN UNION | 0.00 21-31 04/07A | EUR | 4,636,778.58 | 0.25 |
| --- | --- | --- | --- | --- |
| Bermuda |  |  | 262,670.32 | 0.01 |
| 555,720 SEADRILL NEW FINANCE LTD 12.00 18-25 15/07S | USD | 262,670.32 | 0.01 |
| Canada |  | 499,653.76 | 0.03 |
| 2,043,040 STONEWAY CAPITAL CORP 10.00 17-27 01/03S | USD | 499,653.76 | 0.03 |
| Cayman Islands |  | 6,013,335.93 | 0.33 |
| 4,770,000 PERSHING SQUARE INT 3.25 20-30 15/11S | USD | 4,089,091.45 | 0.23 |
| 2,854,000 SHELF DRILL HOLD LTD 8.25 18-25 15/02S | USD | 1,924,244.48 | 0.10 |
| China |  | 51,243,754.89 | 2.79 |
| 387,360,000 CHINA 3.27 20-30 19/11S | CNY | 51,243,754.89 | 2.79 |
| Dominican Republic |  | 10,777,815.99 | 0.58 |
| 1,846,000 DOMINICAN REPUBLIC 4.875 20-32 23/09S | USD | 1,613,884.06 | 0.09 |
| 6,407,000 DOMINICAN REPUBLIC 5.875 20-60 30/01S | USD | 5,410,022.39 | 0.29 |
| 1,966,000 DOMINICAN REPUBLIC 6.00 18-28 19/07S | USD | 1,889,898.11 | 0.10 |
| 2,017,000 DOMINICAN REPUBLIC 6.50 18-48 15/12S | USD | 1,864,011.43 | 0.10 |
| Finland |  | 3,206,349.61 | 0.17 |
| 3,269,000 SBB TREASURY OYJ 0.75 20-28 14/12A | EUR | 3,206,349.61 | 0.17 |
| France |  | 24,437,569.40 | 1.32 |
| 3,198,000 ALTICE FRANCE SA 5.8750 18-27 01/02S | EUR | 3,393,717.60 | 0.18 |
| 1,646,000 ALTICE FRANCE SA 8.1250 18-27 01/02S | USD | 1,519,833.04 | 0.08 |
| 2,891,000 GETLINK SE	3.50 20-25 30/10S | EUR | 3,005,989.52 | 0.16 |
| 3,400,000 JC DECAUX	2.625 20-28 24/04A | EUR | 3,793,839.00 | 0.21 |
| 1,600,000 LA POSTE 5.3 16-43 01/12S | USD | 1,435,055.24 | 0.08 |
| 3,300,000 ORPEA SA 2.00 21-28 01/04A | EUR | 3,343,081.50 | 0.18 |
| 7,700,000 SOCIETE GENERALE 1.125 20-26 21/04A | EUR | 7,946,053.50 | 0.43 |
| Germany |  | 2,469,526.60 | 0.13 |
| 2,293,000 FRESENIUS SE & CO. KG 1.625 20-27 08/10A | EUR | 2,469,526.60 | 0.13 |
| Greece |  | 10,606,004.07 | 0.57 |
| 461 GREECE 4.00 17-37 30/01A | EUR | 658.59 | 0.00 |
| 4,188,000 GREECE 0.7500 21-31 18/06A | EUR | 4,161,322.44 | 0.23 |
| 6,147,000 PUBLIC POWER CORP GR 3.875 21-26 30/03S | EUR | 6,444,023.04 | 0.34 |
| Hungary |  | 2,556,074.25 | 0.14 |
| 2,443,000 MOL HUNGARIAN OIL  2.625 16-23 28/04A | EUR | 2,556,074.25 | 0.14 |
| Ireland |  | 10,457,881.10 | 0.57 |
| 2,451,000 DAA FINANCE PLC	1.601 20-32 05/11A | EUR | 2,605,474.28 | 0.14 |
| 1,787,000 FCA BANK SPA IRISH BR 1.25 19-22 21/06A | EUR | 1,811,142.37 | 0.10 |
| 2,575,000 RYANAIR DAC	1.125 17-23 15/08A | EUR | 2,634,508.25 | 0.14 |
| 3,110,000 RYANAIR DAC	2.875 20-25 15/09A | EUR | 3,406,756.20 | 0.19 |
| Italy |  | 29,945,711.41 | 1.62 |
| 4,761,000 AMCO AM COMPANY SPA 0.75 21-28 20/04A | EUR | 4,744,550.75 | 0.26 |
| 2,547,000 AMCO AM COMPANY SPA 2.25 20-27 17/07A | EUR | 2,787,525.94 | 0.15 |
| 1,231,000 ATLANTIA SPA	1.625 17-25 03/02A | EUR | 1,266,083.50 | 0.07 |
| 2,374,000 ATLANTIA SPA	6.25 04-22 09/06A | GBP | 2,898,467.47 | 0.16 |
| 155,000 INTESA SANPAOLO	5.25 14-24 12/01S | USD | 144,669.93 | 0.01 |
| 2,033,000 INTESA SANPAOLO	5.71 16-26 15/01Q | USD | 1,932,258.58 | 0.10 |
| 4,581,000 ITALY	1.65 20-30 01/12S | EUR | 4,960,787.80 | 0.27 |
| 8,399,000 ITALY	1.25 20-30 25/11A | USD | 6,996,333.71 | 0.37 |
| 3,865,000 UNICREDIT SPA 6.95 12-22 31/10A | EUR | 4,215,033.73 | 0.23 |
| Ivory Coast |  | 8,011,165.09 | 0.43 |
| 1,326,000 IVORY COAST	5.25 18-30 22/03A | EUR | 1,389,164.01 | 0.08 |
| 1,653,000 IVORY COAST 4.8750 20-32 30/01A | EUR | 1,655,983.67 | 0.09 |
| 4,713,000 IVORY COAST 6.625 18-48 22/03A | EUR | 4,966,017.41 | 0.26 |

Quantity	Denomination	Quotation
currency
Market value	% of net
assets
| Luxembourg |  | 6,906,810.69 | 0.37 |
| --- | --- | --- | --- |
| 2,652,000 ALTICE FRANCE HOLDING 8.0 19-27 15/05S | EUR | 2,865,817.50 | 0.15 |
| 1,252,000 B2W DIGITAL LUX SARL 4.375 20-30 20/12S | USD | 1,056,403.37 | 0.06 |
| 676,000 EUROFINS SCIENTIFIC 2.125 17-24 25/07A | EUR | 716,431.56 | 0.04 |
| 1,552,000 GAZ CAPITAL	7.288 07-37 16/08S | USD | 1,828,517.48 | 0.10 |
| 500,000 MILLICOM INTL CELL 4.50 20-31 27/04S | USD | 439,640.78 | 0.02 |
| Mexico |  | 37,918,998.17 | 2.06 |
| 4,021,000 BANCO SANTANDER 5.375 20-25 17/04S | USD | 3,855,399.49 | 0.21 |
| 6,010,000 PEMEX	6.95 20-60 28/01S | USD | 4,496,502.69 | 0.24 |
| 5,573,000 PEMEX	7.69 20-50 23/01S | USD | 4,531,686.90 | 0.25 |
| 4,313,000 PEMEX	4.75 18-29 24/05A | EUR | 4,289,731.36 | 0.23 |
| 11,550,000 PEMEX	4.875 17-28 21/02A | EUR | 11,743,347.00 | 0.64 |
| 2,337,000 PEMEX 2.75 15-27 21/04A | EUR | 2,186,275.19 | 0.12 |
| 6,747,000 PEMEX 3.75 14-26 16/04A | EUR | 6,816,055.54 | 0.37 |
| Norway |  | 2,386,361.11 | 0.13 |
| 369,000 ADEVINTA ASA	3.00 20-27 15/11S | EUR | 382,394.70 | 0.02 |
| 1,149,000 ADEVINTA ASA	2.625 20-25 25/11A | EUR | 1,179,879.38 | 0.07 |
| 889,000 AKER BP ASA	4.000 20-31 15/01S | USD | 824,087.03 | 0.04 |
| Panama |  | 4,624,648.51 | 0.25 |
| 4,742,000 CARNIVAL CORPORATION 11.50 20-23 01/04S | USD | 4,514,838.65 | 0.24 |
| 94,000 CARNIVAL CORPORATION 10.125 20-26 01/02S | EUR | 109,809.86 | 0.01 |
| Romania |  | 25,030,894.14 | 1.36 |
| 1,729,000 GLOBALWORTH RE ESTATE 2.95 20-26 29/07A | EUR | 1,875,230.18 | 0.10 |
| 2,041,000 GLOBALWORTH RE ESTATE 3.000 18-25 29/03A | EUR | 2,198,565.20 | 0.12 |
| 10,386,000 ROMANIA	4.625 19-49 03/04A | EUR | 13,218,054.48 | 0.72 |
| 6,574,000 ROMANIA 3.875 15-35 29/10A | EUR | 7,739,044.28 | 0.42 |
| Russia |  | 9,003,764.00 | 0.49 |
| 9,200,000 RUSSIA	1.85 20-32 20/11A | EUR | 9,003,764.00 | 0.49 |
| Singapore |  | 2,567,976.91 | 0.14 |
| 2,972,000 VENA ENERGY CAP  3.1330 20-25 26/02S | USD | 2,567,976.91 | 0.14 |
| Spain |  | 26,673,887.94 | 1.45 |
| 1,400,000 BANKINTER SA	0.6250 20-27 06/10A | EUR | 1,412,061.00 | 0.08 |
| 25,182,000 SPAIN ZCP 140122 | EUR | 25,261,826.94 | 1.37 |
| Sweden |  | 5,382,751.68 | 0.29 |
| 466,000 INTRUM AB	2.75 17-22 15/07S | EUR | 466,980.93 | 0.03 |
| 4,950,000 SAMHALLSBYGGNAD	2.8750 21-49 31/12A | EUR | 4,915,770.75 | 0.26 |
| The Netherlands |  | 31,767,702.95 | 1.72 |
| 3,822,000 EASYJET FINCO B	1.8750 21-28 03/03A | EUR | 3,834,882.51 | 0.21 |
| 1,300,000 JAB HOLDINGS	3.375 20-35 17/04A | EUR | 1,602,919.50 | 0.09 |
| 900,000 JAB HOLDINGS B.V.  2.25 19-39 19/12A | EUR | 949,095.00 | 0.05 |
| 704,000 NE PROPERTY BV	1.75 17-24 23/11A | EUR | 724,891.20 | 0.04 |
| 2,639,000 NE PROPERTY BV 2.625 19-23 22/05A | EUR | 2,745,773.94 | 0.15 |
| 4,361,000 NE PROPERTY BV 1.8750 19-26 09/10A | EUR | 4,488,341.20 | 0.24 |
| 4,978,000 PROSUS NV 1.539 20-28 03/08A | EUR | 5,157,805.36 | 0.28 |
| 2,747,000 PROSUS NV 2.031 20-32 03/08A | EUR | 2,830,110.49 | 0.15 |
| 3,742,000 PROSUS NV 3.8320 20-51 08/02S | USD | 2,934,672.73 | 0.16 |
| 1,896,000 TEVA PHARMA	6.00 20-25 31/01A | EUR | 2,046,589.80 | 0.11 |
| 1,674,000 TEVA PHARMA 1.125 16-24 15/10A | EUR | 1,572,262.65 | 0.09 |
| 1,367,000 TEVA PHARMA 1.25 15-23 31/03A | EUR | 1,339,284.07 | 0.07 |
| 1,740,000 TEVA PHARMA 1.625 16-28 15/10A | EUR | 1,541,074.50 | 0.08 |
| Ukraine |  | 5,093,806.97 | 0.28 |
| 2,630,000 UKRAINE 4.375 20-30 27/01A | EUR | 2,463,376.35 | 0.14 |
| 1,780,000 UKRAINE 7.253 20-33 15/03S | USD | 1,566,216.88 | 0.08 |
| 1,198,000 UKRAINE 7.375 17-32 25/09S | USD | 1,064,213.74 | 0.06 |
| United Kingdom |  | 42,328,831.58 | 2.29 |
| 892,000 CARNIVAL PLC	1.0 19-29 28/10A | EUR | 734,851.90 | 0.04 |
| 2,037,000 EASYJET PLC	0.8750 19-25 11/06 | EUR | 2,042,958.22 | 0.11 |
| 2,246,000 EASYJET PLC	1.125 16-23 18/10A | EUR | 2,287,741.91 | 0.12 |
| 3,745,000 EASYJET PLC	1.75 16-23 09/02A | EUR | 3,825,049.37 | 0.21 |
| 4,371,000 GAZ FINANCE PLC	2.95 20-25 15/04A | EUR | 4,654,481.21 | 0.25 |
| 7,695,000 GAZ FINANCE PLC	3.00 20-27 29/06S | USD | 6,604,826.33 | 0.36 |
| 7,696,000 GAZ FINANCE PLC	3.25 20-30 25/02S | USD | 6,483,745.34 | 0.35 |
| 9,869,000 GAZ FINANCE PLC 1.50 21-27 17/02A | EUR | 9,866,483.41 | 0.53 |
| 653,000 INFORMA PLC	1.2500 19-28 22/04A | EUR | 665,478.83 | 0.04 |
| 2,014,000 INFORMA PLC	2.1250 20-25 06/10A | EUR | 2,146,450.71 | 0.12 |

Quantity	Denomination	Quotation
currency
Market value	% of net
assets
| 1,712,000 NATWEST MARKETS PLC 2.75 20-25 02/04A | EUR | 1,887,257.44 | 0.10 |
| --- | --- | --- | --- |
| 1,325,000 UBS AG LONDON	1.7500 20-22 21/04S | USD | 1,129,506.91 | 0.06 |
| United States of America |  | 94,127,931.71 | 5.11 |
| 780,000 AMERICAN HONDA	2.2000 19-22 27/06S | USD | 670,238.30 | 0.04 |
| 2,476,000 BOEING CO	5.705 20-40 01/05S | USD | 2,688,221.12 | 0.15 |
| 3,049,000 CEDC FIN CORP INTL 10.00 17-22 31/12S | USD | 2,079,756.55 | 0.11 |
| 6,299,000 CITADEL FINANCE LLC 3.375 21-26 09/03S | USD | 5,329,265.26 | 0.29 |
| 1,041,000 FIDELITY NATIONAL INF 0.75 19-23 21/05A | EUR | 1,058,249.37 | 0.06 |
| 8,507,000 FORD MOTOR CO	8.50 20-23 21/04S | USD | 8,007,046.07 | 0.43 |
| 2,963,000 FORD MOTOR CO	9.625 20-30 22/04S | USD | 3,588,455.59 | 0.19 |
| 8,247,000 FORD MOTOR CREDIT CO 9.00 20-25 22/04S | USD | 8,562,443.06 | 0.46 |
| 5,003,000 HP ENTERPRISE CO 4.45 20-23 02/10S | USD | 4,564,251.37 | 0.25 |
| 2,435,000 HP ENTERPRISE CO 4.65 20-24 01/10S | USD | 2,282,912.60 | 0.12 |
| 2,770,000 LYB INTL FINANCE III 4.20 20-50 01/05S | USD | 2,676,358.63 | 0.15 |
| 4,438,000 LYB INTL FINANCE III 3.375 20-30 01/05S | USD | 4,068,877.70 | 0.22 |
| 401,000 MERCADOLIBRE INC 2.375 21-26 14/01S | USD | 340,932.84 | 0.02 |
| 615,000 MERCADOLIBRE INC 3.125 21-31 14/01S | USD | 508,908.75 | 0.03 |
| 5,091,000 MURPHY OIL CORP  5.75 17-25 15/08S | USD | 4,428,169.75 | 0.24 |
| 2,769,000 MURPHY OIL CORP  5.875 19-27 01/12S | USD | 2,435,711.30 | 0.13 |
| 2,760,000 MURPHY OIL CORP  6.375 21-28 15/07S | USD | 2,459,458.13 | 0.13 |
| 3,431,000 NETFLIX INC 3.6250 19-30 15/06S | EUR | 4,088,431.07 | 0.22 |
| 6,939,000 NETFLIX INC 3.8750 19-29 15/11S | EUR | 8,369,648.32 | 0.45 |
| 5,865,000 NETFLIX INC 4.625 18-29 15/05S | EUR | 7,339,079.78 | 0.40 |
| 4,242,000 ORACLE CORP	2.9500 20-30 01/04S | USD | 3,768,347.55 | 0.20 |
| 9,809,000 PERSHING SQUARE HO 5.50 15-22 15/07U | USD | 8,594,889.14 | 0.48 |
| 2,431,000 STANDARD INDUSTRIES 2.25 19-26 21/11A | EUR | 2,424,095.96 | 0.13 |
| 3,700,000 SYSCO CORP 1.25 16-23 23/06A | EUR | 3,794,183.50 | 0.21 |
| Convertible bonds |  | 9,649,264.78 | 0.52 |
| Austria |  | 4,017,636.00 | 0.21 |
| 3,600,000 RAIFFEISEN BANK CV  FL.R 20-XX 15/06S | EUR | 4,017,636.00 | 0.21 |
| Israel |  | 1,594,799.55 | 0.09 |
| 1,836,000 BANK LEUMI-ISRAEL CV FL.R 20-31 29/01S | USD | 1,594,799.55 | 0.09 |
| Italy |  | 1,345,047.66 | 0.07 |
| 1,234,000 FINECO BANK SPA CV FL.R 19-XX 03/12S | EUR | 1,345,047.66 | 0.07 |
| United Kingdom |  | 2,691,781.57 | 0.15 |
| 2,141,000 NATWEST GROUP PLC CV FL.R 20-XX 31/03Q | GBP | 2,691,781.57 | 0.15 |
| Floating rate bonds |  | 90,246,708.37 | 4.89 |
| Canada |  | 2,296,710.69 | 0.12 |
| 2,661,000 CANADIAN IMPERIAL FL.R 19-23 22/07S | USD | 2,296,710.69 | 0.12 |
| Cayman Islands |  | 3,494,594.78 | 0.19 |
| 3,416,000 BANCO MERCANTILE FL.R 20-XX 14/01Q | USD | 3,494,594.78 | 0.19 |
| Denmark |  | 2,782,734.00 | 0.15 |
| 2,685,000 DANSKE BANK A/S	FL.R 15-XX 06/04S | EUR | 2,782,734.00 | 0.15 |
| France |  | 7,950,590.50 | 0.43 |
| 3,900,000 ACCOR SA	FL.R 19-XX 31/12A | EUR | 3,827,479.50 | 0.20 |
| 2,500,000 LA BANQUE POSTALE	FL.R 20-31 26/01A | EUR | 2,508,375.00 | 0.14 |
| 1,600,000 RCI BANQUE SA FL.R 19-30 18/02A | EUR | 1,614,736.00 | 0.09 |
| Greece |  | 925,124.72 | 0.05 |
| 944,000 ALPHA BANK AE FL.R 20-30 13/02A | EUR | 925,124.72 | 0.05 |
| Ireland |  | 1,368,312.00 | 0.07 |
| 1,200,000 AIB GROUP PLC FL.R 20-49 31/12S | EUR | 1,368,312.00 | 0.07 |
| Israel |  | 2,048,389.07 | 0.11 |
| 2,396,000 MIZRAHI TEFAHOT BANK FL.R 21-31 07/04S | USD | 2,048,389.07 | 0.11 |
| Italy |  | 30,371,562.12 | 1.65 |
| 714,000 ENEL SPA	FL.R 13-73 24/09S | USD | 700,459.35 | 0.04 |
| 2,611,000 ENI SPA FL.R 21-99 31/12A | EUR | 2,613,141.02 | 0.14 |
| 7,265,000 ENI SPA FL.R 20-49 31/12A | EUR | 7,733,701.47 | 0.42 |
| 2,666,000 ENI SPA FL.R 21-XX 11/06A | EUR | 2,686,554.86 | 0.15 |
| 2,033,000 UNICREDIT SPA	FL.R 19-49 19/03S | EUR | 2,416,413.64 | 0.13 |
| 1,405,000 UNICREDIT SPA FL.R 17-32 19/06S | USD | 1,313,353.34 | 0.07 |
| 7,688,000 UNICREDIT SPA FL.R 19-29 20/02A | EUR | 8,393,796.84 | 0.46 |
| 4,241,000 UNICREDIT SPA FL.R 20-27 22/07A | EUR | 4,514,141.60 | 0.24 |
| Ivory Coast |  | 785,545.11 | 0.04 |
| 926,805 IVORY COAST FL.R 10-32 31/12S | USD | 785,545.11 | 0.04 |

Quantity	Denomination	Quotation
currency
Market value	% of net
assets
| Portugal | 1,317,641.00 | 0.07 |
| --- | --- | --- |
| 1,300,000 BCP |  | FL.R 19-30 27/03A | EUR | 1,317,641.00 | 0.07 |
|  | Spain |  |  | 4,956,072.00 | 0.27 |
| 1,000,000 BANCO SANTANDER SA FL.R | 17-49 01/12Q | EUR | 1,060,710.00 | 0.06 |
| 3,600,000 BBVA FL.R 18-XX 24/03Q |  | EUR | 3,895,362.00 | 0.21 |
| Sweden |  |  | 6,111,513.96 | 0.33 |
| 3,091,000 SAMHALLSBYGGNAD	FL.R | 20-XX 30/04A | EUR | 3,106,022.26 | 0.17 |
| 2,810,000 SAMHALLSBYGGNAD FL.R 19-49 31/12A | EUR | 3,005,491.70 | 0.16 |
| The Netherlands |  | 5,259,748.00 | 0.29 |
| 2,978,000 ELM BV FL.R 20-99 31/12A | EUR | 3,219,218.00 | 0.18 |
| 2,000,000 TELEFONICA EUROPE BV FL.R 20-XX 02/05A | EUR | 2,040,530.00 | 0.11 |
| United Kingdom |  | 16,775,376.12 | 0.91 |
| 3,497,000 BARCLAYS PLC	FL.R 19-99 27/03Q | USD | 3,364,096.90 | 0.18 |
| 1,510,000 BP CAPITAL MARKETS FL.R 20-XX 22/06A | EUR | 1,616,160.55 | 0.09 |
| 1,667,000 CHANNEL LINK	FL.R 17-50 30/06S | EUR | 1,703,498.97 | 0.09 |
| 1,789,000 CHANNEL LINK	FL.R 17-50 30/06S | EUR | 1,785,395.16 | 0.10 |
| 1,207,000 STANDARD CHARTERED FL.R 20-30 09/09A | EUR | 1,282,087.47 | 0.07 |
| 7,519,000 VODAFONE GROUP PLC  FL.R 18-78 03/10A | USD | 7,024,137.07 | 0.38 |
| United States of America |  | 3,802,794.30 | 0.21 |
| 3,642,000 LIBERTY MUTUAL GROUP FL.R 19-59 23/05A | EUR | 3,802,794.30 | 0.21 |
| Mortgage and asset backed securities |  | 47,554,435.53 | 2.58 |
| Ireland |  | 36,277,030.09 | 1.97 |
| 1,006,000 ADAGIO CLO	FL.R 21-34 15/04Q | EUR | 1,006,976.42 | 0.05 |
| 1,257,000 ADAGIO CLO	FL.R 21-34 15/04Q | EUR | 1,261,465.49 | 0.07 |
| 1,509,000 ADAGIO CLO FL.R	21-34 15/04Q | EUR | 1,511,642.56 | 0.08 |
| 300,000 ARBOUR CLO V DAC  FL.R 18-31 15/09Q | EUR | 299,013.87 | 0.02 |
| 1,075,000 AURIUM CLO VI DAC  FL.R 21-34 22/05Q | EUR | 1,080,742.87 | 0.06 |
| 1,100,000 AURIUM CLO VI DAC  FL.R 21-34 22/05Q | EUR | 1,107,633.01 | 0.06 |
| 1,012,000 AURIUM CLO VI DAC FL.R  21-34 22/05Q | EUR | 1,012,892.58 | 0.05 |
| 1,394,000 AVOCA 12X B1RR	FL.R 21-34 15/04Q | EUR | 1,401,725.41 | 0.08 |
| 697,000 AVOCA 12X DRR	FL.R 21-34 15/04Q | EUR | 702,134.73 | 0.04 |
| 302,000 BAIN CAPITAL EURO CLO FL.R 18-32 20/04Q | EUR | 300,496.52 | 0.02 |
| 1,330,000 BAIN CAPITAL EURO CLO FL.R 21-34 15/07Q | EUR | 1,330,000.00 | 0.07 |
| 1,195,000 BAIN CAPITAL EUROC  FL. R 21-34 15/07Q | EUR | 1,195,000.00 | 0.06 |
| 1,328,000 BCCE 2021-1X C	FL.R 21-34 15/07Q | EUR | 1,328,000.00 | 0.07 |
| 1,131,000 BECLO 4X A	FL.R 17-30 15/07Q | EUR | 1,131,159.92 | 0.06 |
| 618,532 BLACK 2015-1X A1  FL.R 17-29 03/10Q | EUR | 619,092.26 | 0.03 |
| 1,634,000 BLACK 2015-1X B1R  FL.R 18-29 03/10M | EUR | 1,632,393.45 | 0.09 |
| 177,000 BLACKROCK EUROPEAN  FL.R 21-34 15/04Q | EUR | 176,449.84 | 0.01 |
| 478,000 BLACKROCK EUROPEAN  FL.R 21-34 15/03Q | EUR | 481,853.68 | 0.03 |
| 1,229,000 BLACKROCK EUROPEAN  FL.R 21-34 15/04Q | EUR | 1,235,743.03 | 0.07 |
| 2,038,450 CGMSE 2015-2X AA1  FL.R 17-29 21/09Q | EUR | 2,039,531.41 | 0.10 |
| 1,012,000 FAIR OAKS LOAN FUNDING FL.R 21-34 15/04Q | EUR | 1,020,684.88 | 0.06 |
| 1,012,000 FAIR OAKS LOAN FUNDING FL.R 21-34 15/04Q | EUR | 1,011,357.48 | 0.05 |
| 200,000 HARVEST CLO	FL.R 18-31 15/01Q | EUR | 198,561.14 | 0.01 |
| 400,000 HARVT 8X B1RR	FL.R 18-31 15/01Q | EUR | 391,101.40 | 0.02 |
| 600,000 MAN GLG EURO CLO  FL.R 18-31 15/05Q | EUR | 590,836.32 | 0.03 |
| 500,000 MAN GLG EURO CLO  FL.R 18-31 15/05Q | EUR | 489,865.30 | 0.03 |
| 1,200,000 MAN GLG EURO CLO  FL.R 18-31 15/05Q | EUR | 1,199,301.48 | 0.07 |
| 728,500 MDPKE 16X B1	FL.R 21-34 25/05Q | EUR | 729,702.31 | 0.04 |
| 1,255,000 MDPKE 16X C1	FL.R 21-34 25/05Q | EUR | 1,259,008.72 | 0.07 |
| 717,500 MDPKE 16X D	FL.R 21-34 25/05Q | EUR | 720,877.34 | 0.04 |
| 390,000 OCP EURO C 2019-3 DAC FL.R 21-33 20/04Q | EUR | 391,764.28 | 0.02 |
| 340,000 OCP EURO C 2019-3 DAC FL.R 21-33 20/04Q | EUR | 339,347.71 | 0.02 |
| 1,259,000 PROVIDUS CLO	FL.R 21-34 20/04Q | EUR | 1,258,316.87 | 0.07 |
| 944,000 PROVIDUS CLO	FL.R 21-34 20/04Q | EUR | 947,569.64 | 0.05 |
| 1,045,000 PROVIDUS CLO IV DAC FL.R 21-34 20/04Q | EUR | 1,050,398.89 | 0.06 |
| 548,000 PURP 1X A	FL.R	18-31 25/01Q | EUR | 548,101.76 | 0.03 |
| 667,000 PURP 1X B	FL.R	18-31 25/01Q | EUR | 665,661.60 | 0.04 |
| 411,000 PURP 1X C	FL.R  18-31 25/01Q | EUR | 406,407.57 | 0.02 |
| 1,179,000 SPAUL 3RX B1R	FL.R 18-32 15/01Q | EUR | 1,164,692.59 | 0.06 |
| 307,000 SPAUL 3RX CR	FL.R 18-32 15/0 | EUR | 302,912.76 | 0.02 |
| 730,000 SPAUL 6X B	1.95  17-30 17/01Q | EUR | 736,613.00 | 0.04 |
| Jersey Island |  | 2,488,870.94 | 0.13 |
| 2,950,844 SRANC 2013-1X AR  FL.R 17-29 26/07Q | USD | 2,488,870.94 | 0.13 |

Quantity	Denomination	Quotation
currency
Market value	% of net
assets
The Netherlands	
5,317,217.780.29
| 1,364,000 ALME 4X BR | FL.R 18-32 15/01Q | EUR | 1,365,333.17 | 0.07 |
| --- | --- | --- | --- | --- |
| 525,000 BABSN 2018-1X C | FL.R 18-31 15/04Q | EUR | 522,031.86 | 0.03 |
| 300,000 BABSN 2018-1X C | FL.R 18-31 15/04Q | EUR | 294,745.95 | 0.02 |
| 943,000 CAIRN CLO BV | FL.R 21-33 20/10Q | EUR | 944,184.41 | 0.05 |
| 943,000 CAIRN CLO BV | FL.R 21-33 20/10Q | EUR | 947,954.24 | 0.05 |
| 1,237,000 MADISON PK X | FL.R 18-30 15/10Q | EUR | 1,242,968.15 | 0.07 |
| United States of America |  | 3,471,316.72 | 0.19 |
| 3,480,382 APEX CREDIT CLO LLC FL.R 17-29 20/09Q | USD | 2,937,534.58 | 0.16 |
| 536,000 BLACK 2015-1X CR  FL.R 18-29 03/10Q | EUR | 533,782.14 | 0.03 |
| Other transferable securities |  | 10,152,530.90 | 0.55 |
| Bonds |  | 194,788.77 | 0.01 |
| Mexico |  | 194,788.77 | 0.01 |
| 231,000 SEAMEX LTD	0.0 21-22 15/06U | USD | 194,788.77 | 0.01 |
| Mortgage and asset backed securities |  | 9,957,742.13 | 0.54 |
| Ireland |  | 7,050,742.13 | 0.38 |
| 1,265,000 FAIR OAKS LOAN FUNDING FL.R 21-34 15/04Q | EUR | 1,275,742.13 | 0.07 |
| 863,000 INVESCO EURO CLO  FL.R 21-34 15-07Q | EUR | 863,000.00 | 0.05 |
| 1,328,000 INVESCO EURO CLO  FL.R 21-34 15/07Q | EUR | 1,328,000.00 | 0.07 |
| 1,328,000 INVESCO EURO CLO  FL.R 21-34 15/07Q | EUR | 1,328,000.00 | 0.07 |
| 615,000 VOYA EURO CLO II DAC FL.R 21-35 15/07Q | EUR | 615,000.00 | 0.03 |
| 889,000 VOYA EURO CLO II DAC FL.R 21-35 15/07Q | EUR | 889,000.00 | 0.05 |
| 752,000 VOYA EURO CLO II DAC FL.R 21-35 15/07Q | EUR | 752,000.00 | 0.04 |
| Luxembourg |  | 2,907,000.00 | 0.16 |
| 1,195,000 SCULPTOR EURO CLO VIII FL.R 21-34 17/07Q | EUR | 1,195,000.00 | 0.07 |
| 929,000 SCULPTOR EUROPEAN CLO FL.R 21-34 17/07Q | EUR | 929,000.00 | 0.05 |
| 783,000 SCULPTOR EUROPEAN CLO FL.R 21-34 17/07Q | EUR | 783,000.00 | 0.04 |
| Shares/Units of UCITS/UCIS | 109,813,235.04 | 5.95 |
| Shares/Units in investment funds | 109,813,235.04 | 5.95 |
| France | 109,813,235.04 | 5.95 |
| 148,184 CARMIGNAC PATRIMOINE A EUR ACC | EUR | 109,813,235.04 | 5.95 |
| Money market instruments |  | 355,079,089.40 | 19.25 |
| Bonds |  | 355,079,089.40 | 19.25 |
| France |  | 13,959,408.54 | 0.76 |
| 13,893,000 FRANCE ZCP 230322 | EUR | 13,959,408.54 | 0.76 |
| Greece |  | 25,223,040.28 | 1.37 |
| 12,200,000 GREECE ZCP 068021 | EUR | 12,204,331.00 | 0.66 |
| 13,015,000 GREECE ZCP 300721 | EUR | 13,018,709.28 | 0.71 |
| Italy |  | 72,072,502.37 | 3.91 |
| 6,545,000 ITALY ZCP 121121 | EUR | 6,559,039.03 | 0.36 |
| 26,000,000 ITALY ZCP 140322 | EUR | 26,109,330.00 | 1.42 |
| 39,387,000 ITALY ZCP 300721 | EUR | 39,404,133.34 | 2.13 |
| Spain |  | 218,530,769.12 | 11.84 |
| 52,820,000 SPAIN ZCP 040322 | EUR | 53,018,339.10 | 2.86 |
| 37,738,000 SPAIN ZCP 081021 | EUR | 37,799,701.63 | 2.05 |
| 45,253,000 SPAIN ZCP 100921 | EUR | 45,305,040.95 | 2.46 |
| 46,829,000 SPAIN ZCP 101221 | EUR | 46,953,565.14 | 2.55 |
| 13,070,000 SPAIN ZCP 110222 | EUR | 13,115,875.70 | 0.71 |
| 8,622,000 SPAIN ZCP 121121 | EUR | 8,641,528.83 | 0.47 |
| 13,687,000 SPAIN ZCP 130821 | EUR | 13,696,717.77 | 0.74 |
| United States of America |  | 25,293,369.09 | 1.37 |
| 30,000,000 UNITED STATES ZCP 041121 | USD | 25,293,369.09 | 1.37 |
| Total securities portfolio |  | 1,801,220,500.50 | 97.64 |

| Income | 14,559,106.01 |
| --- | --- |
| Net dividends | 2,222,295.89 |
| Net interest on bonds | 10,810,943.59 |
| Bank interest on cash account | 24,579.55 |
| Other financial income | 807,992.82 |
| Interest on swaps | 693,294.16 |
| Expenses | 13,970,065.37 |
| Management fees | 8,190,659.57 |
| Performance fees | 1,610.39 |
| Bank interest on overdrafts | 364,042.66 |
| Transaction fees | 1,051,233.09 |
| Dividend expenses | 64,287.30 |
| Interest on swaps | 1,706,861.90 |
| Operating and establishment fees | 2,591,370.46 |
| Net income from investments | 589,040.64 |
| Net realised profit / loss on: - sales of investment securities | 106,570,092.05 |
| - options | 4,836,684.45 |
| - forward foreign exchange contracts | (1,042,210.13) |
| - financial futures | (27,224,279.29) |
| - swaps | 15,898,702.25 |
| - foreign exchange | (16,412,573.50) |
| Net realised profit | 83,215,456.47 |
| Movement in net unrealised appreciation / depreciation on: - investments | (12,271,086.83) |
| - options | (870,536.19) |
| - forward foreign exchange contracts | (8,093,466.72) |
| - financial futures | (1,478,292.91) |
| - swaps | 1,412,925.33 |
| Increase in net assets as a result of operations | 61,914,999.15 |
| Dividends paid | (2,496,763.23) |
| Subscription capitalisation shares | 1,007,348,997.68 |
| Subscription distribution shares | 24,850,534.10 |
| Redemption capitalisation shares | (827,225,315.46) |
| Redemption distribution shares | (11,685,708.89) |
| Increase in net assets | 252,706,743.35 |
| Net assets at the beginning of the period | 1,592,069,497.12 |
| Net assets at the end of the period | 1,844,776,240.47 |

Translation (ENDE, 2021-06-30):
# CARMIGNAC PORTFOLIO
## Konsolidiert

#### Abschluss zum 30.06.2021

###### Aufstellung des Nettovermögens zum 30.06.2021
Ausgedrückt in EUR
| Aktiva | 13.149.490.262,90 |
| --- | --- |
| Wertpapierportfolio zum Bewertungskurs | 11.694.212.488,64 |
| Anschaffungskosten | 10.913.684.805,46 |
| Nicht realisierter Gewinn aus dem Wertpapierportfolio | 780.527.683,18 |
| Zum Bewertungskurs erworbene Optionen | 23.433.358,70 |
| Zum Einstandspreis erworbene Optionen | 26.662.421,68 |
| Bankguthaben und liquide Mittel | 951.158.249,12 |
| Zinsforderungen | 57.853.894,24 |
| Forderungen gegenüber Brokern | 219.933.023,84 |
| Forderungen aus Zeichnungen | 192.335.429,44 |
| Dividendenforderungen | 2.176.351,73 |
| Nicht realisierter Nettogewinn aus Devisenterminkontrakten | 1.667.847,62 |
| Nicht realisierter Nettogewinn aus Futures | 237.266,23 |
| Nicht realisierter Nettogewinn aus Swaps | 4.209.453,39 |
| Sonstige Aktiva | 1.141.244,01 |
| Passiva | 777.310.797,87 |
| Zum Bewertungskurs verkaufte Optionen | 12.087.218,05 |
| Zum Einstandspreis verkaufte Optionen | 15.401.313,38 |
| Kontoüberziehungen | 98.574.660,55 |
| Verbindlichkeiten gegenüber Brokern | 414.058.426,21 |
| Verbindlichkeiten aus Rücknahmen | 107.523.320,84 |
| Nicht realisierter Nettoverlust aus Devisenterminkontrakten | 29.661.082,62 |
| Nicht realisierter Nettoverlust aus Futures | 11.765.200,57 |
| Nicht realisierter Nettoverlust aus Swaps | 67.706.325,22 |
| Sonstige Passiva | 35.934.563,81 |
| Nettoinventarwert | 12.372.179.465,03 |


###### Aufwands- und Ertragsrechnung und Veränderungen des Nettovermögens vom 01.01.2021 bis 30.06.2021
Ausgedrückt in EUR
| Erträge | 114.524.076,87 |
| --- | --- |
| Nettodividenden | 22.535.782,60 |
| Nettozinsen aus Anleihen | 80.326.116,97 |
| Bankzinsen aus Sichteinlagen | 256.502,92 |
| Sonstige Finanzerträge | 1.948.419,92 |
| Zinsen aus Swapverträgen | 9.393.535,06 |
| Erträge aus Wertpapierleihe | 63.719,40 |
| Aufwand | 105.772.440,46 |
| Verwaltungsgebühren | 47.333.492,70 |
| Performancegebühren | 12.235.758,25 |
| Überziehungszinsen | 3.544.279,77 |
| Transaktionskosten | 6.896.184,15 |
| Dividendenaufwand | 1.543.766,54 |
| Zinsen aus Swapverträgen | 20.849.922,15 |
| Betriebs- und Gründungskosten | 13.369.036,90 |
| Nettoertrag aus Anlagen | 8.751.636,41 |
| Realisierter Nettogewinn/-verlust aus: - Wertpapierverkäufen | 378.987.776,60 |
| - Optionen | 13.900.184,68 |
| - Devisenterminkontrakten | (8.220.805,64) |
| - Futures | (36.460.151,65) |
| - Swaps | 90.450.247,38 |
| - Wechselkursgeschäften | (45.965.371,15) |
| Realisierter Nettogewinn | 401.443.516,63 |
| Veränderung des nicht realisierten Nettogewinns/-verlusts aus: - Anlagen | 88.440.067,37 |
| - Optionen | (1.033.462,86) |
| - Devisenterminkontrakten | (33.086.594,64) |
| - Futures | (1.936.490,25) |
| - Swaps | (56.656.482,91) |
| Zunahme des Nettovermögens gemäß Erfolgsrechnung | 397.170.553,34 |
| Ausgeschüttete Dividenden | (4.441.137,03) |
| Zeichnungen von thesaurierenden Aktien | 4.566.890.449,80 |
| Zeichnungen von ausschüttenden Aktien | 91.883.949,47 |
| Rücknahmen von thesaurierenden Aktien | (2.558.694.657,11) |
| Rücknahmen von ausschüttenden Aktien | (46.964.378,08) |
| Zunahme des Nettovermögens | 2.445.844.780,39 |
| Nettovermögen zu Beginn des Berichtszeitraums | 9.926.334.684,64 |
| Nettovermögen am Ende des Berichtszeitraums | 12.372.179.465,03 |