# Geographical classification
(by domicile of the issuer) (in percentage of net assets)
| Japan | 97.91 % |
| --- | --- |
| Total | 97.91 % |

| Assets |  |
| --- | --- |
| Securities portfolio at market value | 594,571,630.63 |
| Cash at banks | 87,389,206.54 |
| Income receivable on portfolio | 1,410,152.57 |
| Prepaid expenses | 	766.54  |
| Total assets | 683,371,756.28 |
| Liabilities |  |
| Expenses payable | 	648,675.21  |
| Total liabilities | 648,675.21 |
| Net assets at the end of the period | 682,723,081.07 |

Breakdown of net assets per share class
| Share class | Number of shares | Currency of share class | NAV per share in currency of share class | Net assets per share class (in USD) |
| --- | --- | --- | --- | --- |
| A | 21,857.785 | USD | 127.89 | 2,795,419.45 |
| AM | 935,104.341 | USD | 129.04 | 120,663,344.85 |
| AR | 500.400 | USD | 124.66 | 62,382.08 |
| B | 506,718.620 | USD | 132.91 | 67,349,984.38 |
| BC | 79,264.306 | EUR | 153.81 | 14,327,517.64 |
| BCM | 5,613.194 | EUR | 155.68 | 1,026,959.26 |
| BI | 843.000 | USD | 142.92 | 120,481.02 |
| BM | 3,523,947.512 | USD | 135.18 | 476,376,857.30 |
| BR | 1.000 | USD | 135.09 | 	135.09  |
|  |  |  |  | 	682,723,081.07  |

| Income |  |
| --- | --- |
| Dividends, net | 2,617,228.36 |
| Other income | 	293,183.79  |
| Total income | 2,910,412.15 |
| Expenses |  |
| Management fees | 2,819,219.01 |
| Depositary fees | 132,876.44 |
| Banking charges and other fees | 107,703.24 |
| Transaction fees | 705,915.96 |
| Central administration costs | 80,349.51 |
| Professional fees | 4,576.00 |
| Other administration costs | 44,845.26 |
| Subscription duty ("taxe d'abonnement") | 163,663.89 |
| Other taxes | 244,711.87 |
| Bank interest paid | 13,529.14 |
| Other expenses | 	14,702.81  |
| Total expenses | 4,332,093.13 |
| Net investment loss | -1,421,680.98 |
| Net realised gain/(loss) |  |
| - on securities portfolio | 22,073,288.34 |
| - on foreign exchange | 	1,181,367.26  |
| Realised result | 21,832,974.62 |
| Net variation of the unrealised gain/(loss) |  |
| - on securities portfolio | 	58,665,288.59  |
| Result of operations | 80,498,263.21 |
| Dividends paid | -571,210.67 |
| Reinvestments | - |
| Subscriptions | 88,576,491.21 |
| Redemptions | -26,582,080.66 |
| Total changes in net assets | 141,921,463.09 |
| Total net assets at the beginning of the period | 540,801,617.98 |
| Total net assets at the end of the period | 682,723,081.07 |

| Total net assets | Currency | 30.09.2019 | 30.09.2020 | 31.03.2021 |
| --- | --- | --- | --- | --- |
|  | USD | 459,252,305.15 | 540,801,617.98 | 682,723,081.07 |

| Net asset value per share class | Currency | 30.09.2019 | 30.09.2020 | 31.03.2021 |
| --- | --- | --- | --- | --- |
| A | USD | 102.02 | 111.81 | 127.89 |
| AM | USD | 103.04 | 112.94 | 129.04 |
| AR | USD | 99.45 | 108.97 | 124.66 |
| B | USD | 105.49 | 116.04 | 132.91 |
| BC | EUR | 131.60 | 134.58 | 153.81 |
| BCM | EUR | 132.46 | 135.94 | 155.68 |
| BI | USD | 111.90 | 124.24 | 142.92 |
| BM | USD | 106.65 | 117.78 | 135.18 |
| BR | USD | 106.76 | 118.33 | 135.09 |

| Number of shares | outstanding at the beginning of the period | issued | redeemed | outstanding at the end of the period |
| --- | --- | --- | --- | --- |
| A | 11,749.628 | 45,055.114 | -34,946.957 | 21,857.785 |
| AM | 854,118.140 | 108,119.110 | -27,132.909 | 935,104.341 |
| AR | 500.400 | - | - | 500.400 |
| B | 508,827.837 | 49,514.188 | -51,623.405 | 506,718.620 |
| BC | 65,464.718 | 16,010.816 | -2,211.228 | 79,264.306 |
| BCM | 2,780.310 | 2,832.884 | - | 5,613.194 |
| BI | 1.000 | 842.000 | - | 843.000 |
| BM | 3,168,157.719 | 449,444.022 | -93,654.229 | 3,523,947.512 |
| BR | 1.000 | - | - | 1.000 |

| TER per share class as at 31.03.2021 | (in %) |
| --- | --- |
| A | 1.50 |
| AM | 1.08 |
| AR | 1.72 |
| B | 1.47 |
| BC | 1.48 |
| BCM | 1.10 |
| BI | 0.89 |
| BM | 1.08 |
| BR | 1.46 |

| Dividends paid | Currency | Dividend per share class | Ex-dividend date |
| --- | --- | --- | --- |
| A | USD | 0.20 | 09.02.2021 |
| AM | USD | 0.62 | 09.02.2021 |

| Currency | Number / nominal value | Description | Cost | Market value | % of total net assets * |
| --- | --- | --- | --- | --- | --- |
| Investments in securities |
| Transferable securities admitted to an official stock exchange listing |
| Shares |  |  |  |  |  |
| CNY | 300,023 | Foshan Haiti Flav & Fo Co Ltd A | 2,176,108.62 | 7,321,321.75 | 1.07 |
| CNY | 90,000 | Kweichow Moutai Co Ltd A Reg | 	11,137,707.27  | 	27,610,903.31  | 	4.04  |
|  |  |  | 13,313,815.89 | 34,932,225.06 | 5.11 |
| HKD | 1,360,000 | Alibaba Group Holding Ltd Reg | 28,413,900.00 | 38,484,789.99 | 5.64 |
| HKD | 2,000,000 | Cafe de Coral Holdings Ltd | 4,532,344.23 | 4,332,111.39 | 0.63 |
| HKD | 13,000,000 | Dali Foods Gr Co Ltd | 9,132,093.22 | 7,390,828.99 | 1.08 |
| HKD | 2,200,000 | Haitian Intl Holdings Ltd | 5,090,780.81 | 8,772,268.31 | 1.28 |
| HKD | 1,700,000 | Hengan Intl Group Co Ltd | 14,286,257.25 | 11,173,708.91 | 1.64 |
| HKD | 1,200,000 | Techtronic Industries Co Ltd | 5,129,603.14 | 20,528,651.35 | 3.01 |
| HKD | 520,000 | Tencent Holdings Ltd | 19,141,734.01 | 40,800,051.42 | 5.98 |
| HKD | 2,000,000 | Travelsky Technology Ltd H | 4,075,733.63 | 4,676,828.09 | 0.69 |
| HKD | 20,000,000 | Want Want China Holdings Ltd | 	17,022,351.39  | 	14,997,749.04  | 	2.20  |
|  |  |  | 106,824,797.68 | 151,156,987.49 | 22.15 |
| IDR | 80,000,000 | Kalbe Farma Tbk (PT) | 9,048,627.53 | 8,647,183.20 | 1.27 |
| IDR | 8,000,000 | PT Indofood CBP Sukses Mak Tbk | 	5,120,717.33  | 	5,067,139.20  | 	0.74  |
|  |  |  | 14,169,344.86 | 13,714,322.40 | 2.01 |
| INR | 1,500,000 | Container Corp of India Ltd Reg | 9,825,249.25 | 12,261,887.74 | 1.80 |
| INR | 700,000 | Godrej Consumer Products Ltd dematerialised | 6,008,126.82 | 6,981,962.62 | 1.02 |
| INR | 150,000 | Tata Consultancy Services Ltd | 	6,380,402.59  | 	6,516,127.08  | 	0.95  |
|  |  |  | 22,213,778.66 | 25,759,977.44 | 3.77 |
| KRW | 100,000 | Amorepacific Corp (New) | 17,257,528.91 | 22,923,780.00 | 3.36 |
| KRW | 75,000 | Binggrae Co Ltd | 4,435,895.20 | 3,983,949.00 | 0.58 |
| KRW | 150,000 | Coway Co Ltd | 11,670,796.38 | 8,712,810.00 | 1.28 |
| KRW | 19,000 | LG Household & Health Care Ltd | 20,810,423.20 | 26,453,244.00 | 3.87 |
| KRW | 29,000 | Nong Shim Co Ltd | 7,849,312.48 | 7,290,826.20 | 1.07 |
| KRW | 120,000 | Orion Corp | 11,646,952.07 | 13,940,496.00 | 2.04 |
| KRW | 100,000 | S-1 CORP | 8,158,624.18 | 7,245,156.00 | 1.06 |
| KRW | 500,000 | Samsung Electronics Co Ltd | 	20,953,181.37  | 	36,092,760.00  | 	5.29  |
|  |  |  | 102,782,713.79 | 126,643,021.20 | 18.55 |
| MYR | 5,916,665 | 7-Eleven Malaysia Holdings Bhd | 1,905,578.14 | 1,997,668.15 | 0.29 |
| PHP | 20,000,000 | D&L Industries Inc | 3,834,429.20 | 2,914,922.96 | 0.43 |
| PHP | 9,000,000 | Emperador Inc | 1,386,097.40 | 1,892,432.31 | 0.28 |
| PHP | 1,300,000 | Jollibee Foods Corporation | 6,959,535.06 | 4,740,769.69 | 0.69 |
| PHP | 17,975,967 | RFM Corp | 1,681,320.53 | 1,704,620.73 | 0.25 |
| PHP | 3,600,000 | Universal Robina Corp | 	11,064,238.22  | 	9,870,333.20  | 	1.45  |
|  |  |  | 24,925,620.41 | 21,123,078.89 | 3.10 |
| SGD | 2,100,000 | SATS Ltd | 6,479,639.73 | 6,797,886.59 | 1.00 |
| SGD | 3,300,000 | Sheng Siong Group Ltd | 2,514,680.50 | 3,781,812.77 | 0.55 |
| SGD | 33,000,000 | Thai Beverage PLC | 	18,542,261.16  | 	18,172,347.08  | 	2.66  |
|  |  |  | 27,536,581.39 | 28,752,046.44 | 4.21 |
| THB | 9,000,000 | CP All PCL Foreign | 18,358,613.45 | 19,950,383.95 | 2.92 |
| THB | 6,200,000 | Major Cineplex Group PCL Foreign Reg | 5,271,669.69 | 4,445,582.55 | 0.65 |
| THB | 7,000,000 | Osotspa PCL Foreign Reg | 8,028,984.81 | 7,898,527.46 | 1.16 |
| THB | 8,000,000 | TOA Paint Thailand PCL Reg | 	8,882,801.99  | 	8,130,601.72  | 	1.19  |
|  |  |  | 40,542,069.94 | 40,425,095.68 | 5.92 |
| TWD | 140,000 | Aspeed Tec Inc Reg | 7,024,740.56 | 8,484,401.43 | 1.24 |
| TWD | 823,897 | Hiwin Technologies Corp | 5,848,068.76 | 11,650,454.80 | 1.71 |
| TWD | 400,000 | King Slide Works Co Ltd | 4,963,696.47 | 4,630,410.38 | 0.68 |
| TWD | 945,781 | Pacific Hospital Supply Co Ltd | 2,292,313.58 | 2,452,172.51 | 0.36 |
| TWD | 2,400,000 | President Chain Store Corp | 21,937,163.39 | 22,934,232.92 | 3.36 |
| TWD | 580,000 | St.Shine Optical Co Ltd | 10,151,837.99 | 7,019,744.30 | 1.03 |
| TWD | 500,000 | Sunny Friend Enviro Tech Co | 3,187,695.91 | 3,996,276.03 | 0.59 |

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

| TWD | 1,400,000 | Taiwan Secom | 3,894,141.20 |  | 4,588,954.51 |  | 0.67 |
| --- | --- | --- | --- | --- | --- | --- | --- |
| TWD | 2,600,000 | Taiwan Semiconduct Mfg Co Ltd | 	17,395,651.04  |  | 	53,618,606.44  |  | 	7.85  |
|  |  |  | 76,695,308.90 |  | 119,375,253.32 |  | 17.49 |
| USD | 1,080,000 | Dairy Farm Intl Holdings Ltd | 8,359,277.19 |  | 4,654,800.00 |  | 0.68 |
| USD | 120,000 | Netease Inc ADR Repr 5 Shares | 	11,736,029.88  |  | 	12,391,200.00  |  | 	1.81  |
|  |  |  | 20,095,307.07 |  | 17,046,000.00 |  | 2.49 |
| VND | 3,200,000 | Vietnam Dairy Product Corp | 15,065,808.78 |  | 13,645,954.56 |  | 2.00 |
| Total investments in securities | 466,070,725.51 |  | 594,571,630.63 |  | 87.09 |
| Cash at banks |  |  | 87,389,206.54 |  | 12.80 |
| Other net assets/(liabilities) |  |  | 762,243.90 |  | 0.11 |
| Total |  |  | 682,723,081.07 |  | 100.00 |

Translation (ENFR, 2021-03-31):
# Répartition géographique
(par pays de résidence de l'émetteur) (en pourcentage de l'actif net)
| Etats-Unis d'Amérique | 94,82 % |
| --- | --- |
| Irlande | 1,40 % |
| Jersey | 1,31 % |
| Chine | 0,70 % |
| Belgique | 0,52 % |
| Total | 98,75 % |

| Actif |  |
| --- | --- |
| Portefeuille-titres à la valeur d'évaluation | 584.297.998,18 |
| Avoirs bancaires | 18.535.173,92 |
| A recevoir sur garantie en espèces payée | 3.810.000,00 |
| A recevoir sur émissions d'actions | 99.704,74 |
| Revenus à recevoir sur portefeuille-titres | 48.882,50 |
| Charges payées d'avance | 	590,87  |
| Total de l'actif | 606.792.350,21 |
| Exigible |  |
| Dettes bancaires | 175.441,95 |
| Moins-values non réalisées sur changes à terme | 3.485.620,29 |
| Frais à payer | 	576.207,40  |
| Total de l'exigible | 4.237.269,64 |
| Actif net à la fin de la période | 602.555.080,57 |

Répartition des actifs nets par classe d'action
| Classe d'action | Nombre d'actions | Devise action | VNI par action en devise de la classe d'action | Actifs nets par classe d'action (en USD) |
| --- | --- | --- | --- | --- |
| A | 10.929,653 | USD | 207,04 | 2.262.854,62 |
| AM | 325.083,915 | USD | 210,46 | 68.415.906,15 |
| B | 321.061,823 | USD | 222,10 | 71.308.264,84 |
| B EUR HEDGED | 324.204,008 | EUR | 196,32 | 74.800.684,12 |
| BI | 21.873,428 | USD | 2.131,19 | 46.616.368,82 |
| BI EUR HEDGED | 9.551,320 | EUR | 1.303,65 | 14.633.092,40 |
| BM | 1.296.038,889 | USD | 225,88 | 292.744.701,82 |
| BM EUR HEDGED | 134.034,372 | EUR | 201,71 | 	31.773.207,80  |
|  |  |  |  | 	602.555.080,57  |

| Revenus |  |
| --- | --- |
| Dividendes, nets | 1.301.799,80 |
| Intérêts bancaires | 	8,64  |
| Total des revenus | 1.301.808,44 |
| Charges |  |
| Commission de gestion | 2.185.134,09 |
| Commission de dépositaire | 104.808,33 |
| Frais bancaires et autres commissions | 10.258,55 |
| Frais sur transactions | 307.167,37 |
| Frais d'administration centrale | 106.308,62 |
| Frais professionnels | 3.511,50 |
| Autres frais d'administration | 51.812,75 |
| Taxe d'abonnement | 124.872,49 |
| Autres impôts | 168.411,06 |
| Intérêts bancaires payés | 441,97 |
| Autres charges | 	3.868,74  |
| Total des charges | 3.066.595,47 |
| Pertes nettes des investissements | -1.764.787,03 |
| Bénéfice/(perte) net(te) réalisé(e) |  |
| - sur portefeuille-titres | 27.945.648,74 |
| - sur changes à terme | 492.471,68 |
| - sur devises | 	24.236,89  |
| Résultat réalisé | 26.697.570,28 |
| Variation nette de la plus-/(moins-) value non réalisée |  |
| - sur portefeuille-titres | 56.186.062,67 |
| - sur changes à terme | 	-3.637.704,50  |
| Résultat des opérations | 79.245.928,45 |
| Dividendes payés | - |
| Réinvestissements | - |
| Emissions | 219.278.122,10 |
| Rachats | -92.824.114,79 |
| Total des variations de l'actif net | 205.699.935,76 |
| Total de l'actif net au début de la période | 396.855.144,81 |
| Total de l'actif net à la fin de la période | 602.555.080,57 |

| Total de l'actif net | Devise | 30.09.2019 | 30.09.2020 | 31.03.2021 |
| --- | --- | --- | --- | --- |
|  | USD | 270.416.395,45 | 396.855.144,81 | 602.555.080,57 |

| VNI par classe d'action | Devise | 30.09.2019 | 30.09.2020 | 31.03.2021 |
| --- | --- | --- | --- | --- |
| A | USD | 147,60 | 173,17 | 207,04 |
| AM | USD | 149,14 | 175,67 | 210,46 |
| B | USD | 158,34 | 185,76 | 222,10 |
| B EUR HEDGED | EUR | 144,68 | 165,42 | 196,32 |
| BI | USD | 1.503,74 | 1.776,32 | 2.131,19 |
| BI EUR HEDGED | EUR | - | 1.094,46 | 1.303,65 |
| BM | USD | 160,07 | 188,54 | 225,88 |
| BM EUR HEDGED | EUR | 147,74 | 169,61 | 201,71 |

| Nombre d'actions | en circulation au début de la période | émises | remboursées | en circulation en fin de la période |
| --- | --- | --- | --- | --- |
| A | 5.301,274 | 6.039,318 | -410,939 | 10.929,653 |
| AM | 347.015,852 | 44.459,640 | -66.391,577 | 325.083,915 |
| B | 264.786,702 | 96.471,443 | -40.196,322 | 321.061,823 |
| B EUR HEDGED | 4.677,917 | 322.198,657 | -2.672,566 | 324.204,008 |
| BI | 17.799,280 | 6.240,889 | -2.166,741 | 21.873,428 |
| BI EUR HEDGED | 2.610,000 | 17.460,110 | -10.518,790 | 9.551,320 |
| BM | 1.322.439,676 | 201.328,698 | -227.729,485 | 1.296.038,889 |
| BM EUR HEDGED | 2.940,580 | 134.362,398 | -3.268,606 | 134.034,372 |

| TER par classe d'action au 31.03.2021 |  | (en %) |
| --- | --- | --- |
| A |  | 1,47 |
| AM |  | 1,04 |
| B |  | 1,45 |
| B EUR HEDGED |  | 1,62 |
| BI |  | 0,76 |
| BI EUR HEDGED | * | 0,84 |
| BM |  | 1,04 |
| BM EUR HEDGED |  | 1,22 |
| * TER annualisé |  |  |

| Devise | Valeur nominale/ Quantité | Dénomination | Coût d'acquisition | Valeur d'évaluation | % de l'actif net * |
| --- | --- | --- | --- | --- | --- |
| Portefeuille-titres |
| Valeurs mobilières admises à la cote officielle d'une bourse devaleurs |
| Actions |
| CAD | 7.500 | Constellation Software Inc | 6.402.540,70 | 10.472.432,18 | 1,74 |
| USD | 172.000 | A.O.Smith Corp | 9.193.471,24 | 11.628.920,00 | 1,93 |
| USD | 60.000 | Advance Auto Parts | 8.110.199,88 | 11.009.400,00 | 1,83 |
| USD | 133.000 | Albany Intl Corp A Reg | 8.545.220,96 | 11.101.510,00 | 1,84 |
| USD | 36.500 | ANSYS Inc | 8.915.148,03 | 12.393.940,00 | 2,06 |
| USD | 97.000 | AptarGroup Inc | 10.174.770,56 | 13.741.990,00 | 2,28 |
| USD | 84.000 | Aspen Technology Inc | 7.933.587,27 | 12.123.720,00 | 2,01 |
| USD | 38.000 | Burlington Stores Inc | 5.349.600,74 | 11.354.400,00 | 1,88 |
| USD | 84.000 | CDW Corp | 9.085.465,57 | 13.923.000,00 | 2,31 |
| USD | 157.000 | Check Point Software Tec Ltd | 17.237.820,13 | 17.579.290,00 | 2,92 |
| USD | 29.000 | Chemed Corp | 10.934.140,32 | 13.334.780,00 | 2,21 |
| USD | 219.000 | Church & Dwight Co Inc | 14.185.391,81 | 19.129.650,00 | 3,17 |
| USD | 53.000 | Clorox Co | 8.395.977,73 | 10.222.640,00 | 1,70 |
| USD | 146.000 | Cognex Corp | 7.295.219,20 | 12.116.540,00 | 2,01 |
| USD | 18.000 | Cooper Companies Inc (The) | 4.239.082,01 | 6.913.620,00 | 1,15 |
| USD | 30.000 | Domino's Pizza Inc Reg | 8.406.608,91 | 11.033.700,00 | 1,83 |
| USD | 86.000 | Equifax Inc | 12.451.678,48 | 15.577.180,00 | 2,59 |
| USD | 119.000 | Globus Medical Inc | 4.932.733,68 | 7.338.730,00 | 1,22 |
| USD | 98.000 | Graco Inc | 4.475.226,27 | 7.018.760,00 | 1,16 |
| USD | 119.000 | Henry Jack & Associates Inc | 16.883.022,92 | 18.054.680,00 | 3,00 |
| USD | 14.000 | IDEXX Laboratories Inc | 2.319.141,68 | 6.850.340,00 | 1,14 |
| USD | 46.000 | Insulet Corp | 9.913.549,13 | 12.002.320,00 | 1,99 |
| USD | 51.900 | IPG Photonics Corp | 8.220.039,26 | 10.947.786,00 | 1,82 |
| USD | 172.000 | Lamb Weston Holdings Inc Reg S | 10.685.189,90 | 13.326.560,00 | 2,21 |
| USD | 40.000 | Lancaster Colony Corp | 5.695.125,06 | 7.014.400,00 | 1,16 |
| USD | 42.500 | Lennox Intl Inc | 9.681.656,32 | 13.242.575,00 | 2,20 |
| USD | 44.000 | Littelfuse Inc | 8.213.193,81 | 11.635.360,00 | 1,93 |
| USD | 303.000 | LKQ Corp | 9.429.081,96 | 12.825.990,00 | 2,13 |
| USD | 78.000 | Manhattan Associates Inc | 5.438.200,53 | 9.155.640,00 | 1,52 |
| USD | 50.000 | Masimo Corp | 8.061.927,95 | 11.483.000,00 | 1,91 |
| USD | 77.000 | McCormick & Co | 4.594.608,93 | 6.865.320,00 | 1,14 |
| USD | 8.000 | Mettler Toledo Intl Inc | 5.222.157,18 | 9.245.520,00 | 1,53 |
| USD | 75.000 | Middleby Corp | 8.223.403,61 | 12.431.250,00 | 2,06 |
| USD | 23.000 | MSCI Inc | 6.562.629,37 | 9.643.440,00 | 1,60 |
| USD | 330.000 | NIC Inc Reg | 7.522.731,81 | 11.196.900,00 | 1,86 |
| USD | 54.000 | Nordson Corp | 8.397.089,50 | 10.728.720,00 | 1,78 |
| USD | 39.000 | Pool Corp | 6.660.674,18 | 13.464.360,00 | 2,23 |
| USD | 75.000 | Resmed Inc | 8.487.357,18 | 14.551.500,00 | 2,42 |
| USD | 372.000 | Rollins Inc | 9.384.754,10 | 12.804.240,00 | 2,13 |
| USD | 127.000 | Sensient Technologies Corp | 8.359.114,97 | 9.906.000,00 | 1,64 |
| USD | 81.000 | SiteOne Landscape Supply Inc | 7.437.177,59 | 13.829.940,00 | 2,30 |
| USD | 81.000 | Tractor Supply Co | 7.357.603,24 | 14.343.480,00 | 2,38 |
| USD | 22.000 | Tyler Technologies Inc | 5.088.490,01 | 9.339.660,00 | 1,55 |
| USD | 48.000 | Ulta Beauty Inc Reg | 11.300.203,12 | 14.840.160,00 | 2,46 |
| USD | 57.500 | Verisign Inc | 11.305.781,24 | 11.428.700,00 | 1,90 |
| USD | 107.500 | Verisk Analytics Inc | 16.830.070,35 | 18.994.175,00 | 3,15 |

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

| USD | 42.000 | Waters Corp | 8.160.808,07 |  | 11.935.140,00 |  | 1,98 |
| --- | --- | --- | --- | --- | --- | --- | --- |
| USD | 50.000 | Watsco Inc | 8.700.045,22 |  | 13.037.500,00 |  | 2,16 |
| USD | 23.000 | Zebra Technologies Corp A | 	3.888.131,45  |  | 	11.159.140,00  |  | 	1,85  |
|  |  |  | 407.884.302,43 |  | 573.825.566,00 |  | 95,23 |
| Total portefeuille-titres |  | 414.286.843,13 |  | 584.297.998,18 |  | 96,97 |
| Avoirs bancaires |  |  |  | 18.535.173,92 |  | 3,08 |
| Dettes bancaires |  |  |  | -175.441,95 |  | -0,03 |
| Autres actifs/(passifs) nets |  |  | -102.649,58 |  | -0,02 |
| Total |  |  |  |  | 602.555.080,57 |  | 100,00 |