# CARMIGNAC PORTFOLIO
## Human Xperience (launched on 31/03/21)

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

###### Statement of net assets as at 30/06/21
Expressed in EUR
| Assets | 22,326,785.99 |
| --- | --- |
| Securities portfolio at market value | 21,394,981.19 |
| Cost price | 20,059,291.76 |
| Unrealised profit on the securities portfolio | 1,335,689.43 |
| Cash at banks and liquidities | 72,532.81 |
| Brokers receivable | 829,695.29 |
| Dividends receivable | 29,407.49 |
| Other assets | 169.21 |
| Liabilities | 874,125.51 |
| Brokers payable | 808,296.57 |
| Other liabilities | 65,828.94 |
| Net asset value | 21,452,660.48 |


###### Key figures relating to the last 3 years
Total Net Assets
Class A EUR - Capitalisation
Number of shares
Period ending as at:	30/06/21
EUR	21,452,660.48
10,000
Net asset value per share	EUR
Class F EUR - Capitalisation
Number of shares
Net asset value per share	EUR
107.13
190,000
107.27

###### Securities portfolio as at 30/06/21
Expressed in EUR
Quantity	Denomination	Quotation
currency
Market value	% of net
assets
| Transferable securities admitted to an official stock exchange listing | 21,394,981.19 | 99.73 |
| --- | --- | --- |
| Shares |  | 21,394,981.19 | 99.73 |
| Cayman Islands |  | 418,331.19 | 1.95 |
| 6,216 JD.COM INC SADR REPR 2 SHS -A- | USD | 418,331.19 | 1.95 |
| Denmark |  | 377,362.43 | 1.76 |
| 5,341 NOVO NORDISK | DKK | 377,362.43 | 1.76 |
| France |  | 2,983,905.90 | 13.91 |
| 1,919 DASSAULT SYSTEMES SA | EUR | 392,435.50 | 1.83 |
| 1,902 L'OREAL SA | EUR | 714,771.60 | 3.33 |
| 1,096 LVMH MOET HENNESSY LOUIS VUITTON SE | EUR | 724,784.80 | 3.38 |
| 2,812 PERNOD RICARD SA | EUR | 526,406.40 | 2.45 |
| 7,948 SODEXO SA | EUR | 625,507.60 | 2.92 |
| Germany |  | 1,517,827.40 | 7.08 |
| 1,694 ADIDAS AG NAMEN AKT | EUR | 531,746.60 | 2.48 |
| 5,068 DELIVERY HERO | EUR | 564,575.20 | 2.64 |
| 4,192 PUMA AG | EUR | 421,505.60 | 1.96 |
| Hong Kong |  | 653,544.71 | 3.05 |

| 674,000 LENOVO GROUP LTD -RC- | HKD | 653,544.71 | 3.05 |
| --- | --- | --- | --- |
| Jersey Island |  | 718,755.22 | 3.35 |
| 22,147 EXPERIAN GROUP | GBP | 718,755.22 | 3.35 |
| South Korea |  | 1,021,299.04 | 4.76 |
| 2,128 HYUNDAI MOTOR CO LTD | KRW | 381,621.49 | 1.78 |
| 10,586 SAMSUNG ELECTRONICS CO LTD | KRW | 639,677.55 | 2.98 |
| Spain |  | 319,174.53 | 1.49 |
| 10,743 INDITEX SHARE FROM SPLIT | EUR | 319,174.53 | 1.49 |
| Sweden |  | 423,290.77 | 1.97 |
| 20,850 VOLVO AB -B- | SEK | 423,290.77 | 1.97 |
| Switzerland |  | 1,296,782.38 | 6.04 |
| 3,483 GARMIN | USD | 424,809.11 | 1.98 |
| 942 LONZA GROUP (CHF) | CHF | 563,550.08 | 2.62 |
| 970 ROCHE HOLDING LTD | CHF | 308,423.19 | 1.44 |
| The Netherlands |  | 408,289.00 | 1.90 |
| 3,995 HEINEKEN NV | EUR | 408,289.00 | 1.90 |
| United Kingdom |  | 567,667.26 | 2.65 |
| 32,018 COMPASS GROUP | GBP | 567,667.26 | 2.65 |
| United States of America |  | 10,688,751.36 | 49.82 |
| 1,351 ADOBE INC | USD | 667,172.31 | 3.11 |
| 367 ALPHABET INC -A- | USD | 755,659.78 | 3.53 |
| 245 AMAZON.COM INC | USD | 710,716.92 | 3.31 |
| 1,470 ANTHEM INC | USD | 473,265.87 | 2.21 |
| 5,072 CAPITAL ONE FINANCIAL CORP | USD | 661,596.83 | 3.08 |
| 1,160 COSTCO WHOLESALE CORP | USD | 387,028.59 | 1.80 |
| 2,449 ECOLAB INC | USD | 425,348.28 | 1.98 |
| 2,210 ESTEE LAUDER COMPANIES INC -A- | USD | 592,762.29 | 2.76 |
| 1,995 ETSY | USD | 346,277.76 | 1.61 |
| 1,581 INTUIT | USD | 653,477.33 | 3.05 |
| 4,356 MARRIOTT INTERNATIONAL -A- | USD | 501,459.75 | 2.34 |
| 1,801 MASTERCARD INC -A- | USD | 554,454.08 | 2.58 |
| 3,229 MICROSOFT CORP | USD | 737,613.71 | 3.44 |
| 1,452 NETFLIX INC | USD | 646,733.22 | 3.01 |
| 2,644 PAYPAL HOLDINGS | USD | 649,863.50 | 3.03 |
| 2,487 SALESFORCE.COM INC | USD | 512,268.73 | 2.39 |
| 2,384 VISA INC -A- | USD | 470,045.43 | 2.19 |
| 3,470 WALT DISNEY CO | USD | 514,311.41 | 2.40 |
| 2,728 ZOETIS INC -A- | USD | 428,695.57 | 2.00 |

Total securities portfolio	
21,394,981.1999.73

###### Statement of operations and changes in net assets from 31/03/21 to 30/06/21
Expressed in EUR
| Income | 219,265.84 |
| --- | --- |
| Net dividends | 55,698.84 |
| Other financial income | 163,567.00 |
| Expenses | 127,323.71 |
| Management fees | 45,185.69 |
| Performance fees | 41,488.63 |
| Bank interest on overdrafts | 3,989.16 |
| Transaction fees | 21,299.31 |
| Operating and establishment fees | 15,360.92 |
| Net income from investments | 91,942.13 |
| Net realised profit / loss on: - sales of investment securities | 253,374.65 |
| - forward foreign exchange contracts | (865.12) |
| - foreign exchange | (227,480.61) |
| Net realised profit | 116,971.05 |
| Movement in net unrealised appreciation / depreciation on: - investments | 1,335,689.43 |
| Increase in net assets as a result of operations | 1,452,660.48 |
| Subscription capitalisation shares | 20,000,000.00 |
| Increase in net assets | 21,452,660.48 |
| Net assets at the beginning of the period | 0.00 |
| Net assets at the end of the period | 21,452,660.48 |

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 |