# UBS (Lux) Bond SICAV
– USD Investment Grade Corporates (USD)
| Most important figures |  |
| --- | --- |
|  | ISIN | 30.11.2019 | 31.5.2019 | 31.5.2018 |
| Net assets in USD |  | 2 684 014 176.98 | 2 693 562 132.32 | 2 818 846 878.95 |
| Class F-acc | LU1611257095 |  |  |  |
| Shares outstanding |  | 5 663.8510 | 5 358.2820 | 4 142.6920 |
| Net asset value per share in USD |  | 109 637.65 | 105 453.19 | 99 151.67 |
| Issue and redemption price per share in USD 1 |  | 109 637.65 | 105 453.19 | 99 151.67 |
| Class U-X-acc | LU1469614280 |  |  |  |
| Shares outstanding |  | 157 512.8450 | 170 144.1720 | 207 463.1720 |
| Net asset value per share in USD |  | 11 429.50 | 10 973.60 | 10 280.73 |
| Issue and redemption price per share in USD 1 |  | 11 429.50 | 10 973.60 | 10 280.73 |
| Class (CHF hedged) U-X-acc | LU1469622465 |  |  |  |
| Shares outstanding |  | 24 966.9160 | 25 622.9160 | 27 240.9160 |
| Net asset value per share in CHF |  | 10 517.08 | 10 262.29 | 9 932.44 |
| Issue and redemption price per share in CHF 1 |  | 10 517.08 | 10 262.29 | 9 932.44 |
| 1  See note 1 |  |  |  |  |


## Structure of the Securities Portfolio
Geographical Breakdown as a % of net assets	
United States	75.65
United Kingdom	4.90
The Netherlands	3.60
Japan	2.24
Ireland	2.05
France	1.14
Canada	1.08
Australia	0.80
Saudi Arabia	0.77
Spain	0.74
Liberia	0.55
Italy	0.55
Sweden	0.50
Guernsey	0.48
Finland	0.47
Luxembourg	0.47
Switzerland	0.45
Bermuda	0.44
Denmark	0.30
South Korea	0.27
Mexico	0.23
Colombia	0.14
Hong Kong	0.13
Jersey	0.12
China	0.09
Total	98.16
Economic Breakdown as a % of net assets	
Banks & credit institutions	27.36
Finance & holding companies	27.01
Energy & water supply	4.70
Pharmaceuticals, cosmetics & medical products	4.64
Petroleum	4.28
Mortgage & funding institutions	4.06
Telecommunications	3.55
Traffic & transportation	2.49
Tobacco & alcohol	2.02
Computer hardware & network equipment providers	1.59
Electrical devices & components	1.56
Healthcare & social services	1.54
Graphic design, publishing & media	1.48
Real Estate	1.42
Aerospace industry	1.40
Internet, software & IT services	1.01
Insurance	1.01
Electronics & semiconductors	0.92
Chemicals	0.91
Lodging, catering & leisure	0.89
Building industry & materials	0.87
Biotechnology	0.84
Retail trade, department stores	0.70
Vehicles	0.54
Mining, coal & steel	0.37
Miscellaneous services	0.28
Mechanical engineering & industrial equipment	0.20
Packaging industry	0.16
Supranational organisations	0.14
Precious metals & stones	0.13
Non-ferrous metals	0.09
Total	98.16
UBS (Lux) Bond SICAV – USD Investment Grade Corporates (USD)
Semi-Annual Report as of 30 November 2019

## Statement of Net Assets
Assets	30.11.2019
USD
Investments in securities, cost	2 558 228 503.04
| Investments in securities, unrealized appreciation (depreciation) | 	76 316 477.62	 |
| --- | --- |
| Total investments in securities (Note 1) | 2 634 544 980.66 |
| Cash at banks, deposits on demand and deposit accounts | 37 464 496.52 |
| Other liquid assets (Margins) | 1 781 846.93 |
| Receivable on subscriptions | 1 770 537.81 |
| Interest receivable on securities | 22 888 696.03 |
| Unrealized gain (loss) on financial futures (Note 1) | -516 812.79 |
| Unrealized gain (loss) on forward foreign exchange contracts (Note 1) | -503 875.33 |
| Total Assets | 2 697 429 869.83 |
|  |  |
| Liabilities |  |
| Bank overdraft | -9.99 |
| Payable on securities purchases (Note 1) | -11 086 400.00 |
| Payable on redemptions | -1 829 968.02 |
| Provisions for flat fee (Note 2) | -85 392.79 |
| Provisions for taxe d’abonnement (Note 3) | -43 761.11 |
| Provisions for other commissions and fees (Note 2) | 	-370 160.94	 |
| Total provisions | -499 314.84 |
| Total Liabilities | -13 415 692.85 |
|  |  |
| Net assets at the end of the period | 2 684 014 176.98 |
| Statement of Operations | USD |
| Income | 1.6.2019-30.11.2019 |
| Interest on liquid assets | 253 290.90 |
| Interest on securities | 46 801 274.88 |
| Interest received on swaps (Note 1) | 1 500 037.50 |
| Income on securities lending (Note 13) | 52 486.02 |
| Total income | 48 607 089.30 |
|  |  |
| Expenses |  |
| Interest paid on swaps (Note 1) | -970 846.26 |
| Flat fee (Note 2) | -1 069 586.09 |
| Taxe d’abonnement (Note 3) | -134 109.14 |
| Cost on securities lending (Note 13) | -20 994.41 |
| Other commissions and fees (Note 2) | -155 211.79 |
| Interest on cash and bank overdraft | -710.80 |
| Total expenses | -2 351 458.49 |
|  |  |
| Net income (loss) on investments | 46 255 630.81 |
|  |  |
| Realized gain (loss) (Note 1) |  |
| Realized gain (loss) on market-priced securities without options | 9 257 955.49 |
| Realized gain (loss) on options | -497 250.00 |
| Realized gain (loss) on financial futures | 2 310 228.46 |
| Realized gain (loss) on forward foreign exchange contracts | -2 588 005.59 |
| Realized gain (loss) on swaps | -513 097.77 |
| Realized gain (loss) on foreign exchange | 1 363 784.20 |
| Total realized gain (loss) | 9 333 614.79 |
|  |  |
| Net realized gain (loss) of the period | 55 589 245.60 |
|  |  |
| Changes in unrealized appreciation (depreciation) (Note 1) |  |
| Unrealized appreciation (depreciation) on market-priced securities without options | 55 318 020.58 |
| Unrealized appreciation (depreciation) on options | 496 925.00 |
| Unrealized appreciation (depreciation) on financial futures | -3 662 178.36 |
| Unrealized appreciation (depreciation) on forward foreign exchange contracts | -1 353 345.21 |
| Total changes in unrealized appreciation (depreciation) | 50 799 422.01 |
|  |  |
| Net increase (decrease) in net assets as a result of operations | 106 388 667.61 |

UBS (Lux) Bond SICAV – USD Investment Grade Corporates (USD) Semi-Annual Report as of 30 November 2019
| Statement of Changes in Net Assets |  |
| --- | --- |
|  | USD |
|  | 1.6.2019-30.11.2019 |
| Net assets at the beginning of the period | 2 693 562 132.32 |
| Subscriptions | 126 581 445.20 |
| Redemptions | 	-242 518 068.15	 |
| Total net subscriptions (redemptions) | -115 936 622.95 |
| Net income (loss) on investments | 46 255 630.81 |
| Total realized gain (loss) | 9 333 614.79 |
| Total changes in unrealized appreciation (depreciation) | 	50 799 422.01	 |
| Net increase (decrease) in net assets as a result of operations | 106 388 667.61 |
| Net assets at the end of the period | 2 684 014 176.98 |
| Changes in the Number of Shares outstanding |  |
|  | 1.6.2019-30.11.2019 |
| Class | F-acc |
| Number of shares outstanding at the beginning of the period | 5 358.2820 |
| Number of shares issued | 803.2390 |
| Number of shares redeemed | -497.6700 |
| Number of shares outstanding at the end of the period | 5 663.8510 |
| Class | U-X-acc |
| Number of shares outstanding at the beginning of the period | 170 144.1720 |
| Number of shares issued | 3 335.0000 |
| Number of shares redeemed | -15 966.3270 |
| Number of shares outstanding at the end of the period | 157 512.8450 |
| Class | (CHF hedged) U-X-acc |
| Number of shares outstanding at the beginning of the period | 25 622.9160 |
| Number of shares issued | 220.0000 |
| Number of shares redeemed | -876.0000 |
| Number of shares outstanding at the end of the period | 24 966.9160 |

UBS (Lux) Bond SICAV – USD Investment Grade Corporates (USD)
Semi-Annual Report as of 30 November 2019

## Statement of Investments in Securities and other Net Assets as of 30 November 2019
| 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 Notes, fixed rate |  |  |  |
| USD |  |  |  |
| USD	ABBVIE INC 3.20000% 15-06.11.22 | 1 500 000.00 | 1 535 977.05 | 0.06 |
| USD	ABBVIE INC 4.25000% 18-14.11.28 | 5 000 000.00 | 5 509 761.00 | 0.21 |
| USD	ABN AMRO BANK NV-REG-S 2.45000% 15-04.06.20 | 1 830 000.00 | 1 833 147.60 | 0.07 |
| USD	AETNA INC 2.80000% 16-15.06.23 | 11 000 000.00 | 11 165 906.40 | 0.42 |
| USD	AETNA INC 3.50000% 14-15.11.24 | 3 750 000.00 | 3 916 586.25 | 0.15 |
| USD	ALIBABA GROUP HOLDING LTD 2.80000% 17-06.06.23 | 2 500 000.00 | 2 528 025.00 | 0.09 |
| USD	ALLERGAN FUNDING SCS 3.45000% 15-15.03.22 | 9 500 000.00 | 9 706 783.65 | 0.36 |
| USD	ALTRIA GROUP INC 3.49000% 19-14.02.22 | 3 500 000.00 | 3 594 820.25 | 0.13 |
| USD	ALTRIA GROUP INC 4.80000% 19-14.02.29 | 9 500 000.00 | 10 502 936.85 | 0.39 |
| USD	AMERICAN EXPRESS CO-SUB 3.62500% 14-05.12.24 | 5 500 000.00 | 5 805 281.90 | 0.22 |
| USD	AMERICAN INTERNATIONAL GROUP INC 4.25000% 19-15.03.29 | 3 000 000.00 | 3 323 653.20 | 0.12 |
| USD	AMGEN INC 3.62500% 14-22.05.24 | 4 200 000.00 | 4 454 854.32 | 0.17 |
| USD	ANGLO AMERICAN CAPITAL PLC-144A 4.87500% 15-14.05.25 | 8 000 000.00 | 8 701 993.60 | 0.32 |
| USD	ANHEUSER-BUSCH INBEV WORLDWIDE INC 4.75000% 19-23.01.29 | 12 000 000.00 | 13 925 970.00 | 0.52 |
| USD	APPLE INC 2.45000% 16-04.08.26 | 4 000 000.00 | 4 062 019.20 | 0.15 |
| USD	APPLE INC 3.00000% 17-09.02.24 | 3 250 000.00 | 3 376 531.92 | 0.13 |
| USD	AT&T INC 4.30000% 18-15.02.30 | 11 750 000.00 | 12 916 453.05 | 0.48 |
| USD	AT&T INC 4.35000% 19-01.03.29 | 7 500 000.00 | 8 274 203.25 | 0.31 |
| USD	BALL CORP 4.37500% 15-15.12.20 | 3 000 000.00 | 3 060 000.00 | 0.11 |
| USD	BANCO SANTANDER SA 3.50000% 17-11.04.22 | 4 400 000.00 | 4 516 923.40 | 0.17 |
| USD	BANCO SANTANDER SA 3.12500% 17-23.02.23 | 4 600 000.00 | 4 686 399.04 | 0.17 |
| USD	BANCO SANTANDER SA 4.25000% 17-11.04.27 | 10 000 000.00 | 10 772 176.00 | 0.40 |
| USD	BANK OF NOVA SCOTIA-SUB 4.50000% 15-16.12.25 | 6 050 000.00 | 6 595 426.26 | 0.25 |
| USD	BARCLAYS BANK PLC-144A-SUB 10.17900% 09-12.06.21 | 7 480 000.00 | 8 339 581.40 | 0.31 |
| USD	BARCLAYS PLC 3.20000% 16-10.08.21 | 6 220 000.00 | 6 297 586.41 | 0.23 |
| USD	BARCLAYS PLC 3.68400% 17-10.01.23 | 2 250 000.00 | 2 299 631.40 | 0.09 |
| USD	BARCLAYS PLC-SUB 4.37500% 14-11.09.24 | 11 750 000.00 | 12 256 825.67 | 0.46 |
| USD	BAT CAPITAL CORP 2.76400% 18-15.08.22 | 16 000 000.00 | 16 174 417.60 | 0.60 |
| USD	BAT CAPITAL CORP 3.22200% 18-15.08.24 | 2 500 000.00 | 2 545 150.75 | 0.09 |
| USD	BP CAPITAL MARKETS AMERICA INC 3.41000% 19-11.02.26 | 10 000 000.00 | 10 570 384.00 | 0.39 |
| USD	BP CAPITAL MARKETS PLC 2.50000% 12-06.11.22 | 10 000 000.00 | 10 154 998.00 | 0.38 |
| USD	BROADCOM CORP/CAYMAN FIN LTD 2.20000% 18-15.01.21 | 3 000 000.00 | 2 995 834.14 | 0.11 |
| USD	CAPITAL ONE FINANCIAL CORP-SUB 4.20000% 15-29.10.25 | 15 000 000.00 | 16 092 397.50 | 0.60 |
| USD	CAPITAL ONE NA 2.95000% 14-23.07.21 | 3 500 000.00 | 3 545 768.10 | 0.13 |
| USD	CCO LLC/CAPITAL 3.57900% 16-23.07.20 | 3 897 000.00 | 3 925 017.09 | 0.15 |
| USD	CCO LLC/CAPITAL 5.05000% 19-30.03.29 | 4 000 000.00 | 4 506 459.60 | 0.17 |
| USD	CIGNA CORP 3.75000% 19-15.07.23 | 5 000 000.00 | 5 227 179.50 | 0.19 |
| USD	CIGNA CORP 4.12500% 19-15.11.25 | 7 000 000.00 | 7 553 146.30 | 0.28 |
| USD	CITIGROUP INC 2.75000% 17-25.04.22 | 10 000 000.00 | 10 147 799.00 | 0.38 |
| USD	CITIGROUP INC 2.90000% 16-08.12.21 | 10 000 000.00 | 10 150 314.00 | 0.38 |
| USD	CITIGROUP INC 3.20000% 16-21.10.26 | 4 000 000.00 | 4 150 600.40 | 0.15 |
| USD	CITIGROUP INC 3.70000% 16-12.01.26 | 8 750 000.00 | 9 330 611.50 | 0.35 |
| USD	CITIGROUP INC-SUB 3.87500% 15-26.03.25 | 2 500 000.00 | 2 640 332.50 | 0.10 |
| USD	CITIGROUP INC-SUB 4.40000% 15-10.06.25 | 5 000 000.00 | 5 401 128.00 | 0.20 |
| USD	CITIGROUP INC-SUB 4.45000% 15-29.09.27 | 18 000 000.00 | 19 810 992.60 | 0.74 |
| USD	CMS ENERGY CORP 3.60000% 15-15.11.25 | 3 000 000.00 | 3 135 036.90 | 0.12 |
| USD	COMCAST CORP 2.65000% 19-01.02.30 | 8 500 000.00 | 8 536 367.25 | 0.32 |
| USD	COMCAST CORP 3.00000% 17-01.02.24 | 2 500 000.00 | 2 585 923.25 | 0.10 |
| USD	COMCAST CORP 3.15000% 16-01.03.26 | 2 249 000.00 | 2 360 283.89 | 0.09 |
| USD	COMCAST CORP 3.95000% 18-15.10.25 | 18 922 000.00 | 20 633 018.07 | 0.77 |
| USD	COMCAST CORP 4.15000% 18-15.10.28 | 5 000 000.00 | 5 636 746.50 | 0.21 |
| USD	CORPORACION ANDINA DE FOMENTO 2.12500% 16-27.09.21 | 3 660 000.00 | 3 640 419.00 | 0.14 |
| USD	CREDIT AGRICOLE SA-144A-SUB 4.37500% 15-17.03.25 | 4 500 000.00 | 4 803 515.10 | 0.18 |
| USD	CREDIT SUISSE GROUP AG-144A 3.57400% 17-09.01.23 | 1 250 000.00 | 1 280 601.13 | 0.05 |
| USD	CREDIT SUISSE GROUP AG-144A 4.28200% 17-09.01.28 | 10 000 000.00 | 10 873 869.00 | 0.40 |
| USD	CREDIT SUISSE GRP FDNG GUERNSEY 3.80000% 16-15.09.22 | 10 000 000.00 | 10 399 660.00 | 0.39 |
| USD	CREDIT SUISSE GRP FDNG GUERNSEY 4.55000% 16-17.04.26 | 2 250 000.00 | 2 499 803.77 | 0.09 |
| USD	CVS HEALTH CORP 2.62500% 19-15.08.24 | 5 000 000.00 | 5 040 208.50 | 0.19 |
| USD	CVS HEALTH CORP 2.75000% 12-01.12.22 | 9 127 000.00 | 9 264 406.07 | 0.35 |
| USD	CVS HEALTH CORP 3.70000% 18-09.03.23 | 10 000 000.00 | 10 413 256.00 | 0.39 |
| USD	CVS HEALTH CORP 3.87500% 15-20.07.25 | 3 500 000.00 | 3 730 089.65 | 0.14 |
| USD	CVS HEALTH CORP 4.10000% 18-25.03.25 | 8 500 000.00 | 9 127 618.75 | 0.34 |
| USD	CVS HEALTH CORP 4.75000% 16-01.12.22 | 1 000 000.00 | 1 061 979.10 | 0.04 |
| USD	DEUTSCHE TELEKOM INTL FINANCE BV-REG-S 2.22500% 17-17.01.20 | 1 830 000.00 | 1 830 273.58 | 0.07 |
| USD	DOMINION ENERGY INC 2.85000% 16-15.08.26 | 2 000 000.00 | 2 026 799.20 | 0.08 |
| USD	DTE ENERGY CO 2.95000% 19-01.03.30 | 9 000 000.00 | 8 993 391.39 | 0.33 |
| USD	DTE ENERGY CO 3.30000% 15-15.06.22 | 7 172 000.00 | 7 343 016.34 | 0.27 |
| USD	DTE ENERGY CO 3.40000% 19-15.06.29 | 8 000 000.00 | 8 295 712.80 | 0.31 |
| USD	DUKE ENERGY CORP 1.80000% 16-01.09.21 | 5 463 000.00 | 5 446 406.85 | 0.20 |
| USD	DUKE ENERGY CORP 2.65000% 16-01.09.26 | 1 107 000.00 | 1 114 987.56 | 0.04 |
| USD	DUKE ENERGY CORP 3.75000% 14-15.04.24 | 2 500 000.00 | 2 648 880.00 | 0.10 |
| USD	DUKE ENERGY CORP 3.95000% 13-15.10.23 | 1 750 000.00 | 1 851 956.75 | 0.07 |
| USD	EATON CORP 2.75000% 13-02.11.22 | 5 834 000.00 | 5 950 311.29 | 0.22 |
| USD	ELANCO ANIMAL HEALTH INC 4.90000% 19-28.08.28 | 1 950 000.00 | 2 108 564.25 | 0.08 |
| USD	ENCANA CORP 3.90000% 11-15.11.21 | 2 370 000.00 | 2 423 684.29 | 0.09 |
| USD	ENI SPA-144A 4.00000% 18-12.09.23 | 6 500 000.00 | 6 847 700.60 | 0.25 |
| USD	ENTERPRISE PRODUCTS OPERATING LP 4.05000% 11-15.02.22 | 6 000 000.00 | 6 252 592.80 | 0.23 |
| USD	ENTERPRISE PRODUCTS OPERATING LLC 3.70000% 15-15.02.26 | 2 500 000.00 | 2 652 372.00 | 0.10 |
| USD	ENTERPRISE PRODUCTS OPERATING LLC 3.50000% 18-01.02.22 | 12 000 000.00 | 12 369 526.80 | 0.46 |
| USD	FEDEX CORP 3.10000% 19-05.08.29 | 4 911 000.00 | 4 877 237.02 | 0.18 |
| USD	FIRSTENERGY CORP 2.85000% 17-15.07.22 | 5 000 000.00 | 5 078 432.00 | 0.19 |
| USD	FIRSTENERGY CORP 3.90000% 17-15.07.27 | 10 000 000.00 | 10 700 366.00 | 0.40 |
| USD	FISERV INC 3.20000% 19-01.07.26 | 10 000 000.00 | 10 358 015.00 | 0.39 |
| USD	FISERV INC 3.50000% 19-01.07.29 | 3 000 000.00 | 3 151 525.80 | 0.12 |
| USD	FORD MOTOR CREDIT CO LLC 4.54200% 19-01.08.26 | 7 000 000.00 | 7 041 859.30 | 0.26 |
| USD	FREEPORT-MCMORAN INC 3.55000% 12-01.03.22 | 3 463 000.00 | 3 480 315.00 | 0.13 |
| USD	GE CAPITAL INTL FUNDING CO 3.37300% 16-15.11.25 | 4 000 000.00 | 4 134 559.60 | 0.15 |
| USD	GE CAPITAL INTL FUNDING CO 2.34200% 16-15.11.20 | 24 000 000.00 | 23 974 884.00 | 0.89 |

UBS (Lux) Bond SICAV – USD Investment Grade Corporates (USD) Semi-Annual Report as of 30 November 2019
|  | Description | Quantity/ | Valuation in USD | as a % |
| --- | --- | --- | --- | --- |
|  | Nominal | Unrealized gain | of net |
|  |  | (loss) on Futures/ | assets |
|  |  | Forward |  |
|  |  | Exchange Contracts/ |  |
|  |  | Swaps (Note 1) |  |
|  |  |  |  |  |
| USD | GENERAL MOTORS FINANCIAL CO INC 4.20000% 16-01.03.21 | 9 942 000.00 | 10 151 666.84 | 0.38 |
| USD | GENERAL MOTORS FINANCIAL CO INC 3.70000% 16-09.05.23 | 3 000 000.00 | 3 086 839.20 | 0.11 |
| USD | GENERAL MOTORS FINANCIAL CO INC 3.20000% 16-06.07.21 | 9 000 000.00 | 9 112 049.10 | 0.34 |
| USD | GENERAL MOTORS FINANCIAL CO INC 4.00000% 16-06.10.26 | 1 750 000.00 | 1 793 227.45 | 0.07 |
| USD | GENERAL MOTORS FINANCIAL CO 3.85000% 18-05.01.28 | 5 000 000.00 | 5 035 405.00 | 0.19 |
| USD | GENERAL MOTORS FINANCIAL CO INC 5.10000% 19-17.01.24 | 2 900 000.00 | 3 134 154.99 | 0.12 |
| USD | GENERAL MOTORS FINANCIAL CO INC 3.55000% 19-08.07.22 | 2 000 000.00 | 2 053 223.00 | 0.08 |
| USD | GILEAD SCIENCES INC 4.40000% 11-01.12.21 | 5 000 000.00 | 5 216 879.50 | 0.19 |
| USD | GILEAD SCIENCES INC 3.50000% 14-01.02.25 | 5 000 000.00 | 5 284 919.50 | 0.20 |
| USD | GILEAD SCIENCES INC 3.65000% 15-01.03.26 | 2 358 000.00 | 2 534 644.62 | 0.09 |
| USD | GOLDMAN SACHS GROUP INC 5.75000% 12-24.01.22 | 15 000 000.00 | 16 103 620.50 | 0.60 |
| USD | GOLDMAN SACHS GROUP INC-SUB 4.25000% 15-21.10.25 | 5 000 000.00 | 5 398 838.50 | 0.20 |
| USD | GOLDMAN SACHS GROUP INC 2.62500% 16-25.04.21 | 5 000 000.00 | 5 035 050.50 | 0.19 |
| USD | GOLDMAN SACHS GROUP INC/THE 3.20000% 18-23.02.23 | 9 500 000.00 | 9 771 113.85 | 0.36 |
| USD | GOLDMAN SACHS GROUP INC 2.87500% 16-25.02.21 | 2 580 000.00 | 2 604 334.81 | 0.10 |
| USD | HCA INC 4.12500% 19-15.06.29 | 3 000 000.00 | 3 160 497.90 | 0.12 |
| USD | HCP INC 3.40000% 15-01.02.25 | 5 000 000.00 | 5 235 333.00 | 0.19 |
| USD | HCP INC 4.00000% 15-01.06.25 | 7 132 000.00 | 7 677 063.10 | 0.29 |
| USD | HOME DEPOT INC/THE 3.90000% 18-06.12.28 | 3 250 000.00 | 3 663 516.35 | 0.14 |
| USD | HSBC BANK PLC-REG-S 4.75000% 11-19.01.21 | 1 220 000.00 | 1 256 263.89 | 0.05 |
| USD | HSBC HOLDINGS PLC 2.95000% 16-25.05.21 | 4 830 000.00 | 4 891 825.45 | 0.18 |
| USD | HSBC HOLDINGS PLC 3.40000% 16-08.03.21 | 17 225 000.00 | 17 499 960.95 | 0.65 |
| USD | HSBC HOLDINGS PLC 4.30000% 16-08.03.26 | 5 441 000.00 | 5 916 517.82 | 0.22 |
| USD | HSBC HOLDINGS PLC-SUB 4.37500% 16-23.11.26 | 1 750 000.00 | 1 882 842.15 | 0.07 |
| USD | HUMANA INC 3.12500% 19-15.08.29 | 5 000 000.00 | 5 076 317.00 | 0.19 |
| USD | HYUNDAI CAPITAL SERVICES INC-REG-S 2.62500% 15-29.09.20 | 1 220 000.00 | 1 221 291.00 | 0.05 |
| USD | INTERNATIONAL BUSINESS MACHINES CORP 3.37500% 13-01.08.23 | 5 487 000.00 | 5 722 410.40 | 0.21 |
| USD | INTERNATIONAL BUSINESS MACHINES CORP 3.45000% 16-19.02.26 | 7 500 000.00 | 7 986 039.00 | 0.30 |
| USD | INTERNATIONAL LEASE FINANCE CORP 8.25000% 10-15.12.20 | 10 850 000.00 | 11 517 703.57 | 0.43 |
| USD | INTERNATIONAL LEASE FINANCE CORP 5.87500% 12-15.08.22 | 1 250 000.00 | 1 364 005.62 | 0.05 |
| USD | INTERNATIONAL LEASE FINANCE CORP 4.62500% 13-15.04.21 | 1 300 000.00 | 1 342 042.39 | 0.05 |
| USD | JPMORGAN CHASE & CO 4.50000% 12-24.01.22 | 1 750 000.00 | 1 836 231.60 | 0.07 |
| USD | JPMORGAN CHASE & CO 2.55000% 16-01.03.21 | 2 750 000.00 | 2 768 381.55 | 0.10 |
| USD | JPMORGAN CHASE & CO-SUB 3.87500% 14-10.09.24 | 19 500 000.00 | 20 724 648.75 | 0.77 |
| USD | KIA MOTORS CORP-144A 3.00000% 17-25.04.23 | 6 000 000.00 | 6 063 750.00 | 0.23 |
| USD | KINDER MORGAN INC 3.15000% 17-15.01.23 | 7 500 000.00 | 7 660 272.00 | 0.29 |
| USD | KINROSS GOLD CORP 5.95000% 14-15.03.24 | 2 250 000.00 | 2 491 492.50 | 0.09 |
| USD | KROGER CO 3.50000% 16-01.02.26 | 2 000 000.00 | 2 096 948.20 | 0.08 |
| USD | LENNAR CORP 4.75000% 18-29.11.27 | 5 000 000.00 | 5 387 500.00 | 0.20 |
| USD | LLOYDS BANKING GROUP PLC-SUB 4.50000% 14-04.11.24 | 1 293 000.00 | 1 374 733.11 | 0.05 |
| USD | LLOYDS BANKING GROUP PLC 3.00000% 17-11.01.22 | 7 805 000.00 | 7 912 193.09 | 0.29 |
| USD | MARATHON OIL CORP 3.85000% 15-01.06.25 | 3 250 000.00 | 3 404 637.28 | 0.13 |
| USD | MARATHON PETROLEUM CORP 5.12500% 11-01.03.21 | 2 250 000.00 | 2 332 672.65 | 0.09 |
| USD | MGM RESORTS INTL 7.75000% 12-15.03.22 | 1 000 000.00 | 1 121 250.00 | 0.04 |
| USD | MITSUBISHI UFJ FINANCIAL GROUP INC 2.19000% 16-13.09.21 | 1 677 000.00 | 1 676 413.05 | 0.06 |
| USD | MITSUBISHI UFJ FINANCIAL GROUP INC 2.99800% 17-22.02.22 | 10 000 000.00 | 10 170 600.00 | 0.38 |
| USD | MITSUBISHI UFJ FINANCIAL GROUP INC 3.45500% 18-02.03.23 | 14 500 000.00 | 15 008 370.00 | 0.56 |
| USD | MIZUHO FINANCIAL GROUP INC 2.60100% 17-11.09.22 | 7 250 000.00 | 7 308 797.50 | 0.27 |
| USD | MIZUHO FINANCIAL GROUP INC-REG-S 2.63200% 16-12.04.21 | 1 708 000.00 | 1 716 932.84 | 0.06 |
| USD | MORGAN STANLEY 2.50000% 16-21.04.21 | 2 250 000.00 | 2 263 878.68 | 0.08 |
| USD | MORGAN STANLEY 2.75000% 17-19.05.22 | 7 500 000.00 | 7 605 038.25 | 0.28 |
| USD | MORGAN STANLEY 3.62500% 17-20.01.27 | 2 500 000.00 | 2 664 854.25 | 0.10 |
| USD | MORGAN STANLEY-SUB 5.00000% 13-24.11.25 | 5 000 000.00 | 5 628 240.50 | 0.21 |
| USD | MPLX LP 4.87500% 16-01.12.24 | 5 525 000.00 | 5 977 660.49 | 0.22 |
| USD | NEXTERA ENERGY CAP 2.90000% 19-01.04.22 | 7 500 000.00 | 7 637 417.25 | 0.28 |
| USD | NOBLE ENERGY INC 3.25000% 19-15.10.29 | 8 800 000.00 | 8 713 919.10 | 0.32 |
| USD | NOKIA OYJ 4.37500% 17-12.06.27 | 2 352 000.00 | 2 420 454.96 | 0.09 |
| USD | NORDEA BANK ABP-REG-S 4.87500% 11-14.01.21 | 2 440 000.00 | 2 516 653.09 | 0.09 |
| USD | OCCIDENTAL PETROLEUM CORP 3.50000% 19-15.08.29 | 5 000 000.00 | 5 049 036.00 | 0.19 |
| USD | OCCIDENTAL PETROLEUM CORP 2.90000% 19-15.08.24 | 11 000 000.00 | 11 051 747.30 | 0.41 |
| USD | PHILIP MORRIS INTERNATIONAL INC 2.62500% 17-18.02.22 | 5 000 000.00 | 5 070 644.00 | 0.19 |
| USD | PNC BANK NATIONAL ASSOCIATION 2.95000% 15-23.02.25 | 2 000 000.00 | 2 065 166.60 | 0.08 |
| USD | PNC BANK NATIONAL ASSOCIATION 2.55000% 16-09.12.21 | 8 250 000.00 | 8 347 518.30 | 0.31 |
| USD | PNC FINANCIAL SERVICS GROUP 2.20000% 19-01.11.24 | 3 500 000.00 | 3 490 955.82 | 0.13 |
| USD | PPL CAPITAL FUNDING INC 3.95000% 14-15.03.24 | 2 750 000.00 | 2 895 386.73 | 0.11 |
| USD | PUBLIC STORAGE 3.38500% 19-01.05.29 | 3 000 000.00 | 3 209 054.10 | 0.12 |
| USD | QUALCOMM INC 2.90000% 17-20.05.24 | 8 000 000.00 | 8 230 675.20 | 0.31 |
| USD | QUALCOMM INC 3.00000% 15-20.05.22 | 6 250 000.00 | 6 398 625.63 | 0.24 |
| USD | QUALCOMM INC 3.25000% 17-20.05.27 | 4 750 000.00 | 4 978 084.55 | 0.19 |
| USD | RABOBANK NEDERLAND-SUB 4.62500% 13-01.12.23 | 1 750 000.00 | 1 889 513.32 | 0.07 |
| USD | REYNOLDS AMERICAN INC 3.25000% 15-12.06.20 | 4 000 000.00 | 4 022 828.00 | 0.15 |
| USD | ROCKWELL COLLINS INC 3.20000% 17-15.03.24 | 10 000 000.00 | 10 398 836.00 | 0.39 |
| USD | ROCKWELL COLLINS INC 3.50000% 17-15.03.27 | 6 000 000.00 | 6 398 851.80 | 0.24 |
| USD | ROYAL BANK OF SCOTLAND GROUP PLC 4.80000% 16-05.04.26 | 10 000 000.00 | 11 082 267.00 | 0.41 |
| USD | ROYAL CARIBBEAN CRUISES LTD 5.25000% 12-15.11.22 | 1 750 000.00 | 1 896 734.00 | 0.07 |
| USD | SABINE PASS LIQUEFACTION LLC 5.00000% 17-15.03.27 | 4 850 000.00 | 5 309 403.16 | 0.20 |
| USD | SANTANDER UK GROUP HOLD PLC 3.57100% 17-10.01.23 | 1 098 000.00 | 1 121 882.38 | 0.04 |
| USD | SANTANDER UK PLC 2.50000% 18-05.01.21 | 2 850 000.00 | 2 861 872.25 | 0.11 |
| USD | SCENTRE GROUP TRUST 1 /2-REG-S 2.37500% 15-28.04.21 | 1 830 000.00 | 1 828 902.00 | 0.07 |
| USD | SCHLUMBERGER INVESTMENT SA-REG-S 3.30000% 11-14.09.21 | 2 745 000.00 | 2 796 195.34 | 0.10 |
| USD | SHERWIN-WILLIAMS CO 2.75000% 17-01.06.22 | 2 700 000.00 | 2 742 773.13 | 0.10 |
| USD | SHIRE ACQUISITIONS INVT IRELAND DAC 2.40000% 16-23.09.21 | 16 179 000.00 | 16 252 117.75 | 0.61 |
| USD | SOCIETE GENERALE SA-144A 2.50000% 16-08.04.21 | 4 470 000.00 | 4 486 403.56 | 0.17 |
| USD | SOUTHERN CO 2.35000% 16-01.07.21 | 15 000 000.00 | 15 059 605.50 | 0.56 |
| USD | SOUTHERN CO 2.95000% 16-01.07.23 | 1 710 000.00 | 1 743 729.92 | 0.06 |
| USD | SOUTHWEST AIRLINES CO 2.75000% 17-16.11.22 | 5 500 000.00 | 5 563 296.75 | 0.21 |
| USD | SOUTHWEST AIRLINES CO 3.45000% 17-16.11.27 | 14 750 000.00 | 15 584 254.10 | 0.58 |
| USD | SOUTHWESTERN ELECTRIC POWER 3.55000% 12-15.02.22 | 1 750 000.00 | 1 792 677.08 | 0.07 |
| USD | STEEL DYNAMICS INC 5.00000% 17-15.12.26 | 3 500 000.00 | 3 716 300.00 | 0.14 |
| USD | SUMITOMO MITSUI FIN GP INC 2.93400% 16-09.03.21 | 19 109 000.00 | 19 294 166.21 | 0.72 |
| USD | SUNTRUST BANK-SUB 3.30000% 16-15.05.26 | 27 494 000.00 | 28 635 088.98 | 1.07 |
| USD | SUNTRUST BANKS INC 2.90000% 16-03.03.21 | 9 475 000.00 | 9 563 633.89 | 0.36 |
| USD | SYNGENTA FINANCE NV-144A 4.44100% 18-24.04.23 | 7 000 000.00 | 7 297 621.10 | 0.27 |
| USD | TIME WARNER CABLE LLC 5.00000% 09-01.02.20 | 5 100 000.00 | 5 120 786.07 | 0.19 |
| USD | UNION PACIFIC CORP 2.75000% 13-15.04.23 | 10 000 000.00 | 10 190 882.00 | 0.38 |
| USD | UNION PACIFIC CORP 3.95000% 18-10.09.28 | 5 500 000.00 | 6 085 258.30 | 0.23 |

UBS (Lux) Bond SICAV – USD Investment Grade Corporates (USD)
Semi-Annual Report as of 30 November 2019
|  | Description | Quantity/ | Valuation in USD | as a % |
| --- | --- | --- | --- | --- |
|  |  | Nominal | Unrealized gain | of net |
|  |  |  | (loss) on Futures/ | assets |
|  |  |  | Forward |  |
|  |  |  | Exchange Contracts/ |  |
|  |  |  | Swaps (Note 1) |  |
|  |  |  |  |  |
| USD | UNION PACIFIC CORP 3.70000% 19-01.03.29 | 15 000 000.00 | 16 361 238.00 | 0.61 |
| USD | UNITED RENTALS NORTH AMERICA INC 5.50000% 16-15.05.27 | 2 000 000.00 | 2 135 000.00 | 0.08 |
| USD | UNITED RENTALS NORTH AMERICA INC 3.87500% 19-15.11.27 | 11 000 000.00 | 11 096 250.00 | 0.41 |
| USD | UNITED TECHNOLOGIES CORP 4.12500% 18-16.11.28 | 10 000 000.00 | 11 251 350.00 | 0.42 |
| USD | UNITED TECHNOLOGIES CORP 3.95000% 18-16.08.25 | 7 000 000.00 | 7 609 761.60 | 0.28 |
| USD | UNITEDHEALTH GROUP INC 3.50000% 18-15.02.24 | 10 000 000.00 | 10 558 870.00 | 0.39 |
| USD | VEREIT OPERATING PARTNERSHIP LP 4.12500% 16-01.06.21 | 3 000 000.00 | 3 074 324.10 | 0.11 |
| USD | VERIZON COMMUNICATIONS INC 4.67200% 15-15.03.55 | 1 250 000.00 | 1 563 636.12 | 0.06 |
| USD | VERIZON COMMUNICATIONS INC 4.12500% 17-16.03.27 | 2 250 000.00 | 2 500 728.53 | 0.09 |
| USD | VERIZON COMMUNICATIONS INC 3.37600% 18-15.02.25 | 2 514 000.00 | 2 655 611.11 | 0.10 |
| USD | VERIZON COMMUNICATIONS INC 4.32900% 18-21.09.28 | 6 500 000.00 | 7 372 115.40 | 0.27 |
| USD | VIRGINIA ELECTRIC & POWER CO 2.75000% 13-15.03.23 | 2 500 000.00 | 2 549 050.75 | 0.09 |
| USD | VMWARE INC 3.90000% 17-21.08.27 | 8 000 000.00 | 8 380 996.00 | 0.31 |
| USD | WALGREENS BOOTS ALLIANCE INC 3.80000% 14-18.11.24 | 5 500 000.00 | 5 688 711.05 | 0.21 |
| USD | WALT DISNEY CO 1.75000% 19-30.08.24 | 20 000 000.00 | 19 776 260.00 | 0.74 |
| USD | WESTERN DIGITAL CORP 4.75000% 18-15.02.26 | 6 800 000.00 | 7 004 000.00 | 0.26 |
| USD | WESTERN GAS PARTNERS LP 4.75000% 18-15.08.28 | 2 500 000.00 | 2 423 949.85 | 0.09 |
| USD | WESTERN GAS PARTNERS LP 5.50000% 18-15.08.48 | 2 500 000.00 | 2 125 879.95 | 0.08 |
| USD | WESTPAC BANKING CORP 2.70000% 16-19.08.26 | 9 661 000.00 | 9 772 777.77 | 0.36 |
| USD | WEYERHAEUSER CO 4.00000% 19-15.11.29 | 9 500 000.00 | 10 351 138.25 | 0.39 |
| USD | WILLIAMS COS INC/THE LP 3.35000% 12-15.08.22 | 10 000 000.00 | 10 246 690.00 | 0.38 |
| USD | ZOETIS INC 3.90000% 18-20.08.28 | 8 500 000.00 | 9 277 071.70 | 0.35 |
| Total USD |  |  | 1 330 369 878.44 | 49.57 |
| Total Notes, fixed rate |  | 1 330 369 878.44 | 49.57 |
| Notes, floating rate |  |  |  |
| USD |  |  |  |
| USD	BANK OF AMERICA CORP 3.366%/VAR 18-23.01.26 | 12 000 000.00 | 12 524 398.80 | 0.47 |
| USD	CITIGROUP INC 2.876%/VAR 17-24.07.23 | 14 000 000.00 | 14 213 339.00 | 0.53 |
| USD	GOLDMAN SACHS GROUP INC 3.691%/VAR 17-05.06.28 | 6 500 000.00 | 6 890 633.11 | 0.26 |
| USD	HSBC HOLDINGS PLC 3.803%/VAR 19-11.03.25 | 6 000 000.00 | 6 271 251.60 | 0.23 |
| USD	HSBC HOLDINGS PLC 3.973%/VAR 19-22.05.30 | 6 000 000.00 | 6 415 055.40 | 0.24 |
| USD	JPMORGAN CHASE & CO 3.702%/VAR 19-06.05.30 | 14 500 000.00 | 15 599 098.55 | 0.58 |
| Total USD |  | 61 913 776.46 | 2.31 |
| Total Notes, floating rate |  | 61 913 776.46 | 2.31 |
| Medium term notes, fixed rate |  |  |  |
| USD |  |  |  |
| USD	ABN AMRO BANK NV-144A 2.65000% 18-19.01.21 | 14 000 000.00 | 14 087 844.40 | 0.53 |
| USD	BANK OF AMERICA CORP-SUB 4.20000% 14-26.08.24 | 5 500 000.00 | 5 893 312.70 | 0.22 |
| USD	BANK OF AMERICA CORP-SUB 4.45000% 16-03.03.26 | 14 500 000.00 | 15 918 394.35 | 0.59 |
| USD	BANK OF AMERICA CORP 3.24800% 16-21.10.27 | 10 000 000.00 | 10 425 800.00 | 0.39 |
| USD	BANK OF AMERICA CORP-SUB 4.18300% 16-25.11.27 | 4 000 000.00 | 4 332 663.20 | 0.16 |
| USD	BRANCH BANKING & TRUST CO 2.85000% 14-01.04.21 | 3 250 000.00 | 3 284 128.90 | 0.12 |
| USD	CREDIT AGRICOLE SA LONDON-REG-S 2.75000% 15-10.06.20 | 1 830 000.00 | 1 836 405.37 | 0.07 |
| USD	DANSKE BANK AS-REG-S 2.75000% 15-17.09.20 | 3 050 000.00 | 3 062 609.01 | 0.11 |
| USD	DANSKE BANK AS-REG-S 2.80000% 16-10.03.21 | 1 830 000.00 | 1 842 792.62 | 0.07 |
| USD	DEUTSCHE BANK AG/NEW YORK NY 3.12500% 18-13.01.21 | 3 926 000.00 | 3 934 617.96 | 0.15 |
| USD	JOHN DEERE CAPITAL CORP 3.15000% 11-15.10.21 | 7 600 000.00 | 7 772 113.40 | 0.29 |
| USD	MDGH - GMTN BV-REG-S 5.00000% 10-15.11.20 | 2 745 000.00 | 2 813 625.00 | 0.11 |
| USD	MORGAN STANLEY-SUB 3.95000% 15-23.04.27 | 25 000 000.00 | 26 765 437.51 | 1.00 |
| USD	MORGAN STANLEY-SUB 4.10000% 13-22.05.23 | 1 750 000.00 | 1 849 206.97 | 0.07 |
| USD	ROYAL BANK OF CANADA 3.70000% 18-05.10.23 | 3 000 000.00 | 3 164 675.70 | 0.12 |
| USD	SANTANDER UK GROUP HOLD PLC 3.12500% 16-08.01.21 | 4 178 000.00 | 4 212 651.08 | 0.16 |
| USD	SAUDI ARABIAN OIL CO-144A 2.87500% 19-16.04.24 | 7 750 000.00 | 7 858 500.00 | 0.29 |
| USD	SAUDI ARABIAN OIL CO-144A 3.50000% 19-16.04.29 | 5 000 000.00 | 5 221 875.00 | 0.19 |
| USD	SAUDI ARABIAN OIL CO-144A 4.25000% 19-16.04.39 | 7 000 000.00 | 7 532 000.00 | 0.28 |
| USD	SKANDINAVISKA ENSKILDA BANKEN AB-REG-S 2.45000% 15-27.05.20 | 4 087 000.00 | 4 091 561.09 | 0.15 |
| USD	SOCIETE GENERALE-REG-S 2.50000% 16-08.04.21 | 1 220 000.00 | 1 224 477.04 | 0.05 |
| USD	STANDARD CHARTERED BANK (HONG KONG)-SUB 5.87500% 10-24.06.20 | 3 500 000.00 | 3 560 784.50 | 0.13 |
| USD	SUMITOMO MITSUI FIN GP INC 2.44200% 16-19.10.21 | 5 000 000.00 | 5 023 000.00 | 0.19 |
| USD	SVENSKA HANDELSBANKEN AB 2.45000% 16-30.03.21 | 2 440 000.00 | 2 457 585.32 | 0.09 |
| USD	US BANCORP-SUB 3.60000% 14-11.09.24 | 5 875 000.00 | 6 253 956.30 | 0.23 |
| USD	WELLS FARGO & CO 3.75000% 19-24.01.24 | 10 000 000.00 | 10 565 837.00 | 0.39 |
| USD	WELLS FARGO & CO 4.60000% 11-01.04.21 | 10 000 000.00 | 10 327 952.00 | 0.39 |
| USD	WELLS FARGO & CO-SUB 4.10000% 14-03.06.26 | 13 500 000.00 | 14 585 798.25 | 0.54 |
| Total USD |  | 189 899 604.67 | 7.08 |
| Total Medium term notes, fixed rate |  | 189 899 604.67 | 7.08 |
| Medium term notes, floating rate |  |  |  |
| USD |  |  |  |
| USD	JPMORGAN CHASE & CO-SUB 6.750%/3M LIBOR+378BP 14-PRP | 1 250 000.00 | 1 407 812.50 | 0.05 |
| Total USD |  | 1 407 812.50 | 0.05 |
| Total Medium term notes, floating rate |  | 1 407 812.50 | 0.05 |
| Bonds, fixed rate |  |  |  |
| USD |  |  |  |
| USD	AMGEN INC 1.85000% 16-19.08.21 | 5 000 000.00 | 4 988 734.70 | 0.18 |
| USD	BALL CORP 4.87500% 18-15.03.26 | 1 000 000.00 | 1 093 770.00 | 0.04 |
| USD	BP CAPITAL MARKETS PLC-REG-S 3.16100% 16-17.03.21 | 1 830 000.00 | 1 853 295.17 | 0.07 |
| USD	DEXIA CREDIT LOCAL DE FRANCE-REG-S 1.87500% 16-15.09.21 | 3 660 000.00 | 3 659 045.07 | 0.14 |
| USD	ENERGY TRANSFER LP/REGENCY FIN CORP 5.87500% 14-01.03.22 | 2 000 000.00 | 2 123 714.00 | 0.08 |
| USD	ENERGY TRANSFER OPERATING LP 5.50000% 19-01.06.27 | 15 000 000.00 | 16 577 409.00 | 0.62 |
| USD	ENERGY TRANSFER PARTNERS LP 4.90000% 13-01.02.24 | 4 500 000.00 | 4 797 496.35 | 0.18 |
| USD	ENTERPRISE PRODUCTS OPERATING LLC 2.80000% 18-15.02.21 | 4 000 000.00 | 4 036 646.00 | 0.15 |
| USD	HEATHROW FUNDING LTD-144A 4.87500% 11-15.07.21 | 1 200 000.00 | 1 242 887.28 | 0.05 |
| USD	HEATHROW FUNDING LTD-REG-S 4.87500% 11-15.07.21 | 1 830 000.00 | 1 895 403.10 | 0.07 |

UBS (Lux) Bond SICAV – USD Investment Grade Corporates (USD) Semi-Annual Report as of 30 November 2019
|  | Description | Quantity/ | Valuation in USD | as a % |
| --- | --- | --- | --- | --- |
|  | Nominal | Unrealized gain | of net |
|  |  | (loss) on Futures/ | assets |
|  |  | Forward |  |
|  |  | Exchange Contracts/ |  |
|  |  | Swaps (Note 1) |  |
|  |  |  |  |  |
| USD | JP MORGAN CHASE & CO-SUB 4.25000% 15-01.10.27 | 10 000 000.00 | 11 038 714.00 | 0.41 |
| USD | NATIONAL RURAL UTILITIES COOP FIN CORP 3.90000% 18-01.11.28 | 10 000 000.00 | 11 009 133.00 | 0.41 |
| USD | NEXTERA ENERGY CAPITAL HOLDINGS INC 2.75000% 19-01.11.29 | 4 000 000.00 | 3 986 144.04 | 0.15 |
| USD | PECO ENERGY CO 2.37500% 12-15.09.22 | 8 305 000.00 | 8 397 699.58 | 0.31 |
| USD | PNC BANK NATIONAL ASSOCIATION-SUB 2.70000% 12-01.11.22 | 4 625 000.00 | 4 703 565.34 | 0.17 |
| USD | REYNOLDS AMERICAN INC 4.45000% 15-12.06.25 | 5 000 000.00 | 5 353 933.00 | 0.20 |
| Total USD |  |  | 86 757 589.63 | 3.23 |
| Total Bonds, fixed rate |  | 86 757 589.63 | 3.23 |
| Bonds, floating rate |  |  |  |
| USD |  |  |  |
| USD	DEUTSCHE TELEKOM INTL FIN 8.250%/RATING LINKED 00-15.06.30 | 2 250 000.00 | 3 311 464.50 | 0.12 |
| Total USD |  | 3 311 464.50 | 0.12 |
| Total Bonds, floating rate |  | 3 311 464.50 | 0.12 |
| Total Transferable securities and money market instruments listed on an official stock exchange |  | 1 673 660 126.20 | 62.36 |
| Transferable securities and money market instruments traded on another regulated market |  |  |  |
| Asset Backed Securities, fixed rate |  |  |  |
| USD |  |  |  |
| USD	VERIZON OWNER TRUST-144A 2.38000% 17-20.12.21 | 10 000 000.00 | 10 016 679.00 | 0.37 |
| Total USD |  | 10 016 679.00 | 0.37 |
| Total Asset Backed Securities, fixed rate |  | 10 016 679.00 | 0.37 |
| Mortgage Backed Securities, fixed rate |  |  |  |
| USD |  |  |  |
| USD	HILTON USA TRUST 2016-SFP-144A 4.92692% 16-01.11.35 | 4 000 000.00 | 4 003 123.20 | 0.15 |
| USD	MORGAN STANLEY CAP BARC BK TST-144A-SUB 3.30890% 16-01.09.31 | 1 150 000.00 | 1 148 236.82 | 0.04 |
| Total USD |  | 5 151 360.02 | 0.19 |
| Total Mortgage Backed Securities, fixed rate |  | 5 151 360.02 | 0.19 |
| Mortgage Backed Securities, floating rate |  |  |  |
| USD |  |  |  |
| USD	BAMLL COMMERCIAL MORT SET-144A 1M LIBOR+115BP 18-15.09.34 | 6 000 000.00 | 5 992 732.80 | 0.22 |
| USD	CAESARS PALACE LAS VEGAS TRUST-144A-SUB VAR 17-01.10.34 | 11 400 000.00 | 11 923 264.56 | 0.44 |
| USD	CAMB COMM MORTGAGE TRUST-144A-SUB 1M LIBOR+145BP 19-15.12.37 | 2 750 000.00 | 2 755 986.75 | 0.10 |
| USD	CG-CCRE CMCL MRTG TRUST-144A-SUB 1M LIBOR+175BP 14-15.06.31 | 2 000 000.00 | 1 999 740.00 | 0.08 |
| USD	CITIGROUP COMMERCIAL MORTGAGE TRUST-144A-SUB FLR 13-01.05.35 | 18 160 000.00 | 18 341 469.25 | 0.68 |
| USD	CSWF TOP-144A-SUB FLR 18-15.08.35 | 9 000 000.00 | 8 997 103.80 | 0.34 |
| USD	GS MORTGAGE SEC CORP-144A-SUB 1M LIBOR+125BP 18-15.07.35 | 14 592 000.00 | 14 602 898.76 | 0.54 |
| USD	JP MORGAN CHASE COMRCL MTG SEC-144A-SUB VAR 15-01.09.32 | 9 780 000.00 | 9 810 367.88 | 0.37 |
| USD	JP MORGAN CHASE MORTGAGE SECURITIES-144A-SUB FLR 18-01.01.31 | 4 000 000.00 | 4 085 219.20 | 0.15 |
| USD	LONE STAR PORTFOLIO TRUST-144A 1M LIBOR+400BP 15-15.09.28 | 2 500 000.00 | 1 378 379.68 | 0.05 |
| USD	MORGAN STANLEY CAPITAL INC-144A-SUB FLR 14-01.07.29 | 750 000.00 | 758 633.55 | 0.03 |
| USD	RBS COMMERCIAL FUNDING INC-144A VAR 13-01.03.31 | 2 300 000.00 | 2 288 282.88 | 0.09 |
| USD	WP GLIMCHER MALL TRUST-144A-SUB VAR 15-01.06.35 | 10 200 000.00 | 9 672 322.38 | 0.36 |
| Total USD |  | 92 606 401.49 | 3.45 |
| Total Mortgage Backed Securities, floating rate |  | 92 606 401.49 | 3.45 |
| Notes, fixed rate |  |  |  |
| USD |  |  |  |
| USD	ABBOTT LABORATORIES 2.90000% 16-30.11.21 | 13 990 000.00 | 14 242 609.03 | 0.53 |
| USD	ABBVIE INC 2.90000% 13-06.11.22 | 5 000 000.00 | 5 092 338.50 | 0.19 |
| USD	ABBVIE INC-144A 2.60000% 19-21.11.24 | 5 000 000.00 | 5 026 444.50 | 0.19 |
| USD	ABBVIE INC-144A 3.20000% 19-21.11.29 | 10 000 000.00 | 10 146 529.00 | 0.38 |
| USD	ADT CORP 3.50000% 13-15.07.22 | 4 000 000.00 | 4 060 000.00 | 0.15 |
| USD	AMAZON.COM INC 2.80000% 18-22.08.24 | 5 000 000.00 | 5 171 248.00 | 0.19 |
| USD	AMAZON.COM INC 3.15000% 18-22.08.27 | 3 500 000.00 | 3 718 998.50 | 0.14 |
| USD	AMERICAN ELECTRIC POWER INC 2.95000% 12-15.12.22 | 10 250 000.00 | 10 445 289.15 | 0.39 |
| USD	AMERICAN ELECTRIC POWER INC 3.20000% 17-13.11.27 | 6 000 000.00 | 6 214 535.40 | 0.23 |
| USD	AMERICAN EXPRESS CO 2.50000% 17-01.08.22 | 12 500 000.00 | 12 634 703.75 | 0.47 |
| USD	AT&T INC 3.55000% 19-01.06.24 | 1 500 000.00 | 1 570 304.40 | 0.06 |
| USD	AXA EQUITABLE HOLDINGS INC 4.35000% 19-20.04.28 | 6 000 000.00 | 6 446 134.20 | 0.24 |
| USD	BACARDI LTD-144A 4.45000% 18-15.05.25 | 11 000 000.00 | 11 741 620.00 | 0.44 |
| USD	BRISTOL-MYERS SQUIBB CO-144A 3.20000% 19-15.06.26 | 8 000 000.00 | 8 408 108.00 | 0.31 |
| USD	BROADCOM CORP/CAYMAN FIN LTD 3.00000% 18-15.01.22 | 10 250 000.00 | 10 366 609.13 | 0.39 |
| USD	BROADCOM CORP/CAYMAN FIN LTD 3.87500% 18-15.01.27 | 6 849 000.00 | 6 991 486.60 | 0.26 |
| USD	BROADCOM CORP/CAYMAN FIN LTD 3.12500% 18-15.01.25 | 3 250 000.00 | 3 257 715.17 | 0.12 |
| USD	BROADCOM CORP/CAYMAN FIN LTD 3.50000% 18-15.01.28 | 2 049 000.00 | 2 029 881.86 | 0.08 |
| USD	BROADCOM INC-144A 3.62500% 19-15.10.24 | 5 000 000.00 | 5 140 571.50 | 0.19 |
| USD	BROADCOM INC-144A 4.25000% 19-15.04.26 | 9 000 000.00 | 9 428 539.50 | 0.35 |
| USD	CCO HOLDINGS LLC/CAPITAL CORP-144A 5.50000% 16-01.05.26 | 5 000 000.00 | 5 275 000.00 | 0.20 |
| USD	CCO LLC/CAPITAL 4.90800% 16-23.07.25 | 12 000 000.00 | 13 160 881.20 | 0.49 |
| USD	CENTENE CORP-144A 4.62500% 19-15.12.29 | 1 100 000.00 | 1 153 625.00 | 0.04 |
| USD	CENTENE CORP-144A 5.37500% 18-01.06.26 | 2 550 000.00 | 2 706 187.50 | 0.10 |
| USD	CHENIERE CORPUS CHRISTI HLDGS LLC 5.12500% 17-30.06.27 | 3 500 000.00 | 3 849 265.00 | 0.14 |
| USD	CHENIERE ENERGY PARTNERS LP 5.25000% 18-01.10.25 | 2 500 000.00 | 2 575 000.00 | 0.10 |
| USD	CHEVRON PHILLIPS CHEMICAL CO LLC-144A 3.30000% 18-01.05.23 | 2 500 000.00 | 2 582 890.25 | 0.10 |
| USD	CHEVRON PHILLIPS CHEMICAL CO LLC-144A 3.70000% 18-01.06.28 | 7 000 000.00 | 7 493 988.60 | 0.28 |
| USD	CIGNA CORP 5.12500% 10-15.06.20 | 2 250 000.00 | 2 285 372.70 | 0.09 |
| USD	CITIGROUP INC-SUB 4.60000% 16-09.03.26 | 5 000 000.00 | 5 503 152.50 | 0.20 |
| USD	DANSKE BANK AS-144A 2.00000% 16-08.09.21 | 3 238 000.00 | 3 216 907.83 | 0.12 |
| USD	DELL INTERNATIONAL LLC / EMC CORP-144A 4.42000% 16-15.06.21 | 2 250 000.00 | 2 316 785.40 | 0.09 |

UBS (Lux) Bond SICAV – USD Investment Grade Corporates (USD)
Semi-Annual Report as of 30 November 2019
|  | Description | Quantity/ | Valuation in USD | as a % |
| --- | --- | --- | --- | --- |
|  | Nominal | Unrealized gain | of net |
|  |  | (loss) on Futures/ | assets |
|  |  | Forward |  |
|  |  | Exchange Contracts/ |  |
|  |  | Swaps (Note 1) |  |
|  |  |  |  |  |
| USD | DELL INTERNATIONAL LLC / EMC CORP-144A 5.45000% 16-15.06.23 | 2 500 000.00 | 2 709 299.25 | 0.10 |
| USD | DELL INTERNATIONAL LLC / EMC CORP-144A 6.02000% 16-15.06.26 | 12 000 000.00 | 13 712 503.20 | 0.51 |
| USD | DELL INTERNATIONAL LLC / EMC CORP-144A 7.12500% 16-15.06.24 | 5 500 000.00 | 5 816 250.00 | 0.22 |
| USD | DEUTSCHE TELEKOM INTL FINANCE BV-144A 1.95000% 16-19.09.21 | 8 511 000.00 | 8 478 625.26 | 0.32 |
| USD | DEUTSCHE TELEKOM INTL FINANCE BV-144A 2.82000% 17-19.01.22 | 7 400 000.00 | 7 500 954.50 | 0.28 |
| USD | DIAMONDBACK ENERGY INC 3.25000% 19-01.12.26 | 10 000 000.00 | 9 998 100.00 | 0.37 |
| USD | DTE ENERGY CO 3.85000% 13-01.12.23 | 9 011 000.00 | 9 481 016.46 | 0.35 |
| USD | DUKE ENERGY CORP 3.55000% 11-15.09.21 | 7 000 000.00 | 7 158 152.40 | 0.27 |
| USD | ELANCO ANIMAL HEALTH INC 4.27200% 19-28.08.23 | 8 403 000.00 | 8 797 276.32 | 0.33 |
| USD | ENEL FINANCE INTERNATIONAL NV-144A 3.62500% 17-25.05.27 | 8 500 000.00 | 8 832 837.05 | 0.33 |
| USD | ENEL FINANCE INTERNATIONAL NV-144A 2.87500% 17-25.05.22 | 5 000 000.00 | 5 052 598.00 | 0.19 |
| USD | ERAC USA FINANCE LLC-144A 3.85000% 14-15.11.24 | 7 250 000.00 | 7 712 674.70 | 0.29 |
| USD | ERAC USA FINANCE LLC-144A 2.70000% 16-01.11.23 | 3 545 000.00 | 3 596 128.12 | 0.13 |
| USD | FEDEX CORP 2.62500% 12-01.08.22 | 5 000 000.00 | 5 064 651.50 | 0.19 |
| USD | FIFTH THIRD BANCORP 2.60000% 17-15.06.22 | 10 000 000.00 | 10 111 132.00 | 0.38 |
| USD | FORD MOTOR CREDIT CO LLC 2.68100% 17-09.01.20 | 8 000 000.00 | 8 002 125.60 | 0.30 |
| USD | GENERAL MOTORS CO 4.20000% 17-01.10.27 | 2 500 000.00 | 2 555 379.50 | 0.10 |
| USD | GENERAL MOTORS FINANCIAL CO INC 4.25000% 14-15.05.23 | 6 500 000.00 | 6 814 440.10 | 0.25 |
| USD | GENERAL MOTORS FINANCIAL CO INC 3.20000% 15-13.07.20 | 9 100 000.00 | 9 147 643.96 | 0.34 |
| USD | GLENCORE FUNDING LLC-144A 4.12500% 19-12.03.24 | 6 000 000.00 | 6 296 282.40 | 0.23 |
| USD | HARLEY-DAVIDSON FIN.SERV INC-144A 3.35000% 18-15.02.23 | 11 500 000.00 | 11 761 435.25 | 0.44 |
| USD | HCA INC 5.00000% 14-15.03.24 | 1 750 000.00 | 1 900 714.20 | 0.07 |
| USD | HUMANA INC 3.95000% 17-15.03.27 | 2 000 000.00 | 2 148 419.00 | 0.08 |
| USD | JPMORGAN CHASE & CO 4.35000% 11-15.08.21 | 5 500 000.00 | 5 714 100.15 | 0.21 |
| USD | JPMORGAN CHASE & CO-SUB 3.62500% 16-01.12.27 | 12 500 000.00 | 13 198 561.25 | 0.49 |
| USD | KEYBANK NA/CLEVELAND OH 2.30000% 17-14.09.22 | 4 000 000.00 | 4 029 221.20 | 0.15 |
| USD | KINDER MORGAN INC-144A 5.00000% 13-15.02.21 | 11 900 000.00 | 12 265 030.12 | 0.46 |
| USD | KROGER CO 2.80000% 17-01.08.22 | 4 000 000.00 | 4 072 410.80 | 0.15 |
| USD | LENNAR CORP 2.95000% 18-29.11.20 | 2 500 000.00 | 2 512 500.00 | 0.09 |
| USD | LEVEL 3 FINANCING INC 5.62500% 15-01.02.23 | 1 368 000.00 | 1 373 130.00 | 0.05 |
| USD | LEVEL 3 FINANCING INC-144A 3.40000% 19-01.03.27 | 5 000 000.00 | 5 004 250.00 | 0.19 |
| USD | LLOYDS BANKING GROUP PLC-SUB 4.58200% 16-10.12.25 | 4 000 000.00 | 4 292 116.00 | 0.16 |
| USD | LYONDELLBASELL INDUSTRIES NV 6.00000% 12-15.11.21 | 4 550 000.00 | 4 835 529.79 | 0.18 |
| USD | MARATHON OIL CORP 2.80000% 12-01.11.22 | 4 000 000.00 | 4 060 752.40 | 0.15 |
| USD | MARATHON PETROLEUM CORP 4.75000% 19-15.12.23 | 4 000 000.00 | 4 331 452.00 | 0.16 |
| USD | METROPOLITAN EDISON CO-144A 3.50000% 13-15.03.23 | 1 315 000.00 | 1 361 155.32 | 0.05 |
| USD | MICROSOFT CORP 3.62500% 13-15.12.23 | 5 000 000.00 | 5 329 355.50 | 0.20 |
| USD | MORGAN STANLEY 3.70000% 14-23.10.24 | 10 000 000.00 | 10 591 065.00 | 0.39 |
| USD | MORGAN STANLEY 3.87500% 14-29.04.24 | 13 500 000.00 | 14 344 005.15 | 0.53 |
| USD | NATIONAL AUSTRALIA BANK LTD/NY 2.50000% 18-12.01.21 | 5 500 000.00 | 5 524 585.00 | 0.21 |
| USD | NEW YORK LIFE INSURANCE CO-144A-SUB 4.45000% 19-15.05.69 | 1 045 000.00 | 1 241 641.83 | 0.05 |
| USD | NORDEA BANK ABP-144A-SUB 4.25000% 12-21.09.22 | 2 500 000.00 | 2 617 105.00 | 0.10 |
| USD | NOVA CHEMICALS CORP-144A 5.00000% 14-01.05.25 | 647 000.00 | 650 235.00 | 0.02 |
| USD | NOVA CHEMICALS CORP-144A 4.87500% 17-01.06.24 | 7 000 000.00 | 7 067 567.50 | 0.26 |
| USD | NOVA CHEMICALS CORP-144A 5.25000% 17-01.06.27 | 6 637 000.00 | 6 703 370.00 | 0.25 |
| USD | NXP BV / NXP FUNDING LLC-144A 5.55000% 18-01.12.28 | 12 000 000.00 | 13 872 384.00 | 0.52 |
| USD | OCCIDENTAL PETROLEUM CORP 4.85000% 19-15.03.21 | 995 000.00 | 1 025 698.93 | 0.04 |
| USD | PRINCIPAL FINANCIAL GROUP 3.12500% 12-15.05.23 | 9 491 000.00 | 9 757 534.81 | 0.36 |
| USD | PUBLIC STORAGE 2.37000% 17-15.09.22 | 3 250 000.00 | 3 288 658.42 | 0.12 |
| USD | PUBLIC STORAGE 3.09400% 17-15.09.27 | 5 000 000.00 | 5 244 281.50 | 0.20 |
| USD | ROYAL CARIBBEAN CRUISES LTD 7.50000% 97-15.10.27 | 10 000 000.00 | 12 805 106.00 | 0.48 |
| USD | SABINE PASS LIQUEFACTION LLC STEP-UP/DOWN 14-01.02.21 | 3 000 000.00 | 3 086 476.50 | 0.11 |
| USD | SABINE PASS LIQUEFACTION LLC 5.75000% 14-15.05.24 | 5 000 000.00 | 5 567 654.50 | 0.21 |
| USD | SHERWIN-WILLIAMS CO 3.12500% 17-01.06.24 | 8 415 000.00 | 8 700 861.76 | 0.32 |
| USD | SIEMENS FINANCIERINGSMAATSCH NV-144A 1.70000% 16-15.09.21 | 4 055 000.00 | 4 041 953.04 | 0.15 |
| USD | SIERRA PACIFIC POWER CO 3.37500% 13-15.08.23 | 2 182 000.00 | 2 271 137.54 | 0.08 |
| USD | SKANDINAVISKA ENSKILDA BANKEN AB 2.62500% 16-15.03.21 | 1 830 000.00 | 1 842 579.41 | 0.07 |
| USD | SUNCORP-METWAY LTD-144A 2.80000% 17-04.05.22 | 8 000 000.00 | 8 080 000.00 | 0.30 |
| USD | SUNTRUST BANK/ATLANTA GA 2.45000% 17-01.08.22 | 5 000 000.00 | 5 039 437.00 | 0.19 |
| USD | VERIZON COMMUNICATIONS INC 4.01600% 19-03.12.29 | 15 000 000.00 | 16 726 764.00 | 0.62 |
| USD | VOLKSWAGEN GRP OF AMERICA FINANCE-144A 4.62500% 18-13.11.25 | 10 000 000.00 | 11 049 814.00 | 0.41 |
| USD | WILLIAMS COS INC/THE 3.75000% 17-15.06.27 | 1 250 000.00 | 1 279 764.00 | 0.05 |
| Total USD |  |  | 591 700 605.36 | 22.05 |
| Total Notes, fixed rate |  | 591 700 605.36 | 22.05 |
| Notes, floating rate |  |  |  |
| USD |  |  |  |
| USD	BANK OF AMERICA CORP 3.419%/VAR 18-20.12.28 | 5 875 000.00 | 6 159 585.58 | 0.23 |
| USD	BK OF AMERICA CORP 3.004%/VAR 18-20.12.23 | 20 954 000.00 | 21 400 600.98 | 0.80 |
| USD	GOLDMAN SACHS GROUP INC 3.814%/VAR 18-23.04.29 | 5 000 000.00 | 5 349 921.00 | 0.20 |
| USD	HSBC HOLDINGS PLC 3.262%/VAR 17-13.03.23 | 4 500 000.00 | 4 591 395.45 | 0.17 |
| USD	JPMORGAN CHASE BANK NA 2.604%/3M LIBOR+28BP 18-01.02.21 | 15 000 000.00 | 15 012 609.00 | 0.56 |
| Total USD |  | 52 514 112.01 | 1.96 |
| Total Notes, floating rate |  | 52 514 112.01 | 1.96 |
| Medium term notes, fixed rate |  |  |  |
| USD |  |  |  |
| USD	BANK OF AMERICA CORP-SUB 4.25000% 14-22.10.26 | 14 500 000.00 | 15 852 020.60 | 0.59 |
| USD	HYUNDAI CAPITAL AMERICA-144A 3.25000% 17-20.09.22 | 10 000 000.00 | 10 171 208.00 | 0.38 |
| USD	INTESA SANPAOLO SPA-144A 6.50000% 11-24.02.21 | 7 500 000.00 | 7 840 115.25 | 0.29 |
| USD	KEYCORP 5.10000% 11-24.03.21 | 2 250 000.00 | 2 338 166.47 | 0.09 |
| USD	MACQUARIE GROUP LTD-144A 6.25000% 11-14.01.21 | 1 685 000.00 | 1 759 083.72 | 0.07 |
| USD	NORDEA BANK ABP-144A 2.50000% 15-17.09.20 | 5 000 000.00 | 5 023 088.50 | 0.19 |
| USD	SOCIETE GENERALE-144A 5.20000% 11-15.04.21 | 5 000 000.00 | 5 209 822.00 | 0.19 |
| USD	WELLS FARGO & CO 3.00000% 15-19.02.25 | 4 000 000.00 | 4 106 294.80 | 0.15 |
| USD	WELLS FARGO & CO-SUB 4.30000% 15-22.07.27 | 15 000 000.00 | 16 452 319.50 | 0.61 |
| Total USD |  | 68 752 118.84 | 2.56 |
| Total Medium term notes, fixed rate |  | 68 752 118.84 | 2.56 |

UBS (Lux) Bond SICAV – USD Investment Grade Corporates (USD) Semi-Annual Report as of 30 November 2019
| Description | Quantity/ | Valuation in USD | as a % |
| --- | --- | --- | --- |
|  | Nominal | Unrealized gain | of net |
|  |  | (loss) on Futures/ | assets |
|  |  | Forward |  |
|  |  | Exchange Contracts/ |  |
|  |  | Swaps (Note 1) |  |

Medium term notes, floating rate
| USD |  |
| --- | --- |
| USD | BANK OF AMERICA CORP 2.369%/VAR 17-21.07.21 | 3 750 000.00 | 3 757 880.62 | 0.14 |
| USD | WELLS FARGO & CO 2.406%/VAR 19-30.10.25 | 3 000 000.00 | 2 992 532.10 | 0.11 |
| Total USD |  |  | 6 750 412.72 | 0.25 |
| Total Medium term notes, floating rate |  | 6 750 412.72 | 0.25 |
| Bonds, fixed rate |  |  |  |
| USD |  |  |  |
| USD	AERCAP IRE CAP LTD/GLB AVIA TRUST 4.62500% 15-01.07.22 | 10 000 000.00 | 10 565 584.00 | 0.39 |
| USD	AMERICA MOVIL SAB DE CV 3.12500% 12-16.07.22 | 5 950 000.00 | 6 091 312.50 | 0.23 |
| USD	BNP PARIBAS 5.00000% 11-15.01.21 | 9 177 000.00 | 9 482 387.61 | 0.35 |
| USD	ENERGY TRANSFER OPERATING LP 4.25000% 19-15.03.23 | 3 000 000.00 | 3 118 597.50 | 0.12 |
| USD	FIVE CORNERS FUNDING TRUST-144A 4.41900% 13-15.11.23 | 10 000 000.00 | 10 817 314.00 | 0.40 |
| USD	GENERAL MOTORS FINANCIAL CO INC 3.45000% 17-14.01.22 | 4 009 000.00 | 4 087 064.05 | 0.15 |
| USD	NGPL PIPECO LLC-144A 4.87500% 17-15.08.27 | 9 500 000.00 | 10 067 706.70 | 0.38 |
| USD	SWEDBANK AB-144A 2.80000% 17-14.03.22 | 5 000 000.00 | 5 050 644.00 | 0.19 |
| Total USD |  | 59 280 610.36 | 2.21 |
| Total Bonds, fixed rate |  | 59 280 610.36 | 2.21 |
| Bonds, floating rate |  |  |  |
| USD |  |  |  |
| USD	GOLDMAN SACHS GROUP INC 4.223%/VAR 18-01.05.29 | 10 000 000.00 | 11 014 284.00 | 0.41 |
| Total USD |  | 11 014 284.00 | 0.41 |
| Total Bonds, floating rate |  | 11 014 284.00 | 0.41 |
| Total Transferable securities and money market instruments traded on another regulated market |  | 897 786 583.80 | 33.45 |

Transferable securities and money market instruments not listed on an official stock exchange and not traded on another regulated market
Notes, fixed rate
| USD |  |
| --- | --- |
| USD | ASHTEAD CAPITAL INC-144A 4.25000% 19-01.11.29 | 5 250 000.00 | 5 310 703.13 | 0.20 |
| USD | BRANCH BANKING & TRUST CO 2.62500% 17-15.01.22 | 5 000 000.00 | 5 060 600.50 | 0.19 |
| USD | CCO LLC/CAPITAL 4.20000% 17-15.03.28 | 6 000 000.00 | 6 360 206.40 | 0.24 |
| USD | GLP CAPITAL LP / GLP FINANC II INC 4.00000% 19-15.01.30 | 8 000 000.00 | 8 072 760.00 | 0.30 |
| USD | MPLX LP-144A 3.50000% 19-01.12.22 | 3 000 000.00 | 3 071 447.10 | 0.11 |
| USD | NOBLE ENERGY INC 3.85000% 17-15.01.28 | 2 000 000.00 | 2 078 149.80 | 0.08 |
| USD | NRG ENERGY INC-144A 3.75000% 19-15.06.24 | 1 975 000.00 | 2 036 032.83 | 0.07 |
| USD | NXP BV / NXP FUNDING LLC-144A 4.87500% 18-01.03.24 | 10 000 000.00 | 10 848 248.00 | 0.40 |
| USD | T-MOBILE USA INC *ESCROW* 4.00000% 17-15.04.22 | 4 500 000.00 | 0.45 | 0.00 |
| USD | WALT DISNEY CO 3.70000% 19-15.09.24 | 2 250 000.00 | 2 398 464.45 | 0.09 |
| Total USD |  |  | 45 236 612.66 | 1.68 |
| Total Notes, fixed rate |  | 45 236 612.66 | 1.68 |
| Total Transferable securities and money market instruments not listed on an official stock exchange and not traded on another regulated market |  | 45 236 612.66 | 1.68 |
| Recently issued transferable securities and money market instruments |  |  |  |
| Notes, fixed rate |  |  |  |
| USD |  |  |  |
| USD	BRISTOL MYERS SQUIBB CO-144A 2.75000% 19-15.02.23 | 2 000 000.00 | 2 039 139.60 | 0.08 |
| USD	BRISTOL MYERS SQUIBB CO-144A 4.00000% 19-15.08.22 | 8 000 000.00 | 8 473 414.40 | 0.31 |
| USD	BRISTOL MYERS SQUIBB CO-144A 3.62500% 19-15.05.24 | 5 000 000.00 | 5 294 104.00 | 0.20 |
| USD	CCO HOLDINGS LLC/CAPITAL CORP-144A 4.75000% 19-01.03.30 | 2 000 000.00 | 2 055 000.00 | 0.08 |
| Total USD |  | 17 861 658.00 | 0.67 |
| Total Notes, fixed rate |  | 17 861 658.00 | 0.67 |
| Total Recently issued transferable securities and money market instruments |  | 17 861 658.00 | 0.67 |
| Total investments in securities |  | 2 634 544 980.66 | 98.16 |

| Derivative instruments |  |
| --- | --- |
| Derivative instruments listed on an official stock exchange Financial Futures on bonds |
|  |  |  |  |
| USD	US 5YR TREASURY NOTE FUTURE 31.03.20 | 1 400.00 | -43 750.00 | 0.00 |
| USD	US ULTRA LONG BOND (CBT) FUTURE 20.03.20 | -171.00 | -459 562.50 | -0.02 |
| USD	US 10YR TREASURY NOTE FUTURE 20.03.20 | 576.00 | -13 500.29 | 0.00 |
| Total Financial Futures on bonds |  | -516 812.79 | -0.02 |
| Total Derivative instruments listed on an official stock exchange |  | -516 812.79 | -0.02 |
| Total Derivative instruments |  | -516 812.79 | -0.02 |

UBS (Lux) Bond SICAV – USD Investment Grade Corporates (USD)
Semi-Annual Report as of 30 November 2019
| Description	Quantity/ | Valuation in USD | as a % |
| --- | --- | --- |
| Nominal | Unrealized gain | of net |
|  | (loss) on Futures/ | assets |
|  | Forward |  |
|  | Exchange Contracts/ |  |
|  | Swaps (Note 1) |  |

Forward Foreign Exchange contracts
Forward Foreign Exchange contracts (Purchase/Sale)
| CHF | 256 652 800.00 | USD | 258 352 761.17 | 16.1.2020 | -503 875.33 | -0.02 |
| --- | --- | --- | --- | --- | --- | --- |
| Total Forward Foreign Exchange contracts (Purchase/Sale) | -503 875.33 | -0.02 |
|  |  |  |
| Cash at banks, deposits on demand and deposit accounts and other liquid assets | 39 246 343.45 | 1.46 |
| Bank overdraft and other short-term liabilities | -9.99 | 0.00 |
| Other assets and liabilities | 11 243 550.98 | 0.42 |
| Total net assets | 2 684 014 176.98 | 100.00 |

UBS (Lux) Bond SICAV – USD Investment Grade Corporates (USD) Semi-Annual Report as of 30 November 2019

Translation (ENFR, 2019-11-30):
# UBS (Lux) Bond SICAV
– USD Investment Grade Corporates (USD)
| Données principales |  |
| --- | --- |
|  | ISIN | 30.11.2019 | 31.5.2019 | 31.5.2018 |
| Actif net en USD |  | 2 684 014 176.98 | 2 693 562 132.32 | 2 818 846 878.95 |
| Catégorie F-acc | LU1611257095 |  |  |  |
| Actions en circulation |  | 5 663.8510 | 5 358.2820 | 4 142.6920 |
| Valeur nette d’inventaire par action en USD |  | 109 637.65 | 105 453.19 | 99 151.67 |
| Prix d’émission et de rachat par action en USD 1 |  | 109 637.65 | 105 453.19 | 99 151.67 |
| Catégorie U-X-acc | LU1469614280 |  |  |  |
| Actions en circulation |  | 157 512.8450 | 170 144.1720 | 207 463.1720 |
| Valeur nette d’inventaire par action en USD |  | 11 429.50 | 10 973.60 | 10 280.73 |
| Prix d’émission et de rachat par action en USD 1 |  | 11 429.50 | 10 973.60 | 10 280.73 |
| Catégorie (CHF hedged) U-X-acc | LU1469622465 |  |  |  |
| Actions en circulation |  | 24 966.9160 | 25 622.9160 | 27 240.9160 |
| Valeur nette d’inventaire par action en CHF |  | 10 517.08 | 10 262.29 | 9 932.44 |
| Prix d’émission et de rachat par action en CHF 1 |  | 10 517.08 | 10 262.29 | 9 932.44 |
| 1  Voir note 1 |  |  |  |  |
| Structure du portefeuille-titres |  |  |  |  |

Répartition géographique en % de l’actif net	
Etats-Unis	75.65
Grande-Bretagne	4.90
Pays-Bas	3.60
Japon	2.24
Irlande	2.05
France	1.14
Canada	1.08
Australie	0.80
Arabie saoudite	0.77
Espagne	0.74
Liberia	0.55
Italie	0.55
Suède	0.50
Guernesey	0.48
Finlande	0.47
Luxembourg	0.47
Suisse	0.45
Bermudes	0.44
Danemark	0.30
Corée du Sud	0.27
Mexique	0.23
Colombie	0.14
Hong Kong	0.13
Jersey	0.12
Chine	0.09
Total	98.16
Répartition économique en % de l’actif net	
Banques & instituts de crédit	27.36
Etablissements financiers et sociétés de participation	27.01
Distribution d’énergie & d’eau	4.70
Produits pharmaceutiques, cosmétiques & médicaux	4.64
Pétrole	4.28
Emetteurs d’obligations sécurisées (Pfandbriefe) et
sociétés de refinancement	4.06
Télécommunications	3.55
Trafic et transport	2.49
Tabac et boissons alcoolisées	2.02
Equipement informatique et de réseau	1.59
Appareils et composants électriques	1.56
Soins de santé & services sociaux	1.54
Industrie graphique, édition et médias	1.48
Immobilier	1.42
Industrie aéronautique et spatiale	1.40
Internet, logiciels et services informatiques	1.01
Assurances	1.01
Electronique et semi-conducteurs	0.92
Chimie	0.91
Restauration et loisirs	0.89
Bâtiment et matériaux de construction	0.87
Biotechnologie	0.84
Commerce de détail, centres commerciaux	0.70
Véhicules	0.54
Industrie minière, charbon et acier	0.37
Services divers	0.28
Machines et appareils	0.20
Industrie de conditionnement	0.16
Organisations supranationales	0.14
Métaux précieux et pierres précieuses	0.13
Métaux non ferreux	0.09
Total	98.16
UBS (Lux) Bond SICAV – USD Investment Grade Corporates (USD) Rapport semestriel au 30 novembre 2019

## Etat des actifs nets
Actif	30.11.2019
USD
Portefeuille-titres, cours d’achat	2 558 228 503.04
| Portefeuille-titres, plus-/(moins)-value non réalisée | 	76 316 477.62	 |
| --- | --- |
| Total du Portefeuille-titres (note 1) | 2 634 544 980.66 |
| Avoirs en banque, dépôts à vue et à terme | 37 464 496.52 |
| Autres liquidités (marges) | 1 781 846.93 |
| Créances sur souscriptions | 1 770 537.81 |
| Intérêts à recevoir sur titres | 22 888 696.03 |
| Bénéfice/(perte) non réalisé(e) sur contrats financiers à terme (note 1) | -516 812.79 |
| Bénéfice/(perte) non réalisé(e) sur contrats de change à terme (note 1) | -503 875.33 |
| Total de l’Actif | 2 697 429 869.83 |
|  |  |
| Passif |  |
| Crédit en compte courant | -9.99 |
| Engagements sur achats de titres (note 1) | -11 086 400.00 |
| Engagements sur rachats | -1 829 968.02 |
| Provisions pour commission de gestion forfaitaire (note 2) | -85 392.79 |
| Provisions pour taxe d’abonnement (note 3) | -43 761.11 |
| Provisions pour autres commissions et frais (note 2) | 	-370 160.94	 |
| Total des Provisions pour frais | -499 314.84 |
| Total du Passif | -13 415 692.85 |
|  |  |
| Actif net à la fin de la période | 2 684 014 176.98 |
| Etat des opérations | USD |
| Revenus | 1.6.2019-30.11.2019 |
| Revenus d’intérêts sur liquidités | 253 290.90 |
| Intérêts sur titres | 46 801 274.88 |
| Revenus d’intérêts sur swaps (note 1) | 1 500 037.50 |
| Revenus sur prêts de titres (note 13) | 52 486.02 |
| Total des Revenus | 48 607 089.30 |
|  |  |
| Charges |  |
| Charges d’intérêts sur swaps (note 1) | -970 846.26 |
| Commission de gestion forfaitaire (note 2) | -1 069 586.09 |
| Taxe d’abonnement (note 3) | -134 109.14 |
| Frais sur prêts de titres (note 13) | -20 994.41 |
| Autres commissions et frais (note 2) | -155 211.79 |
| Charges d’intérêts sur liquidités et crédit en compte courant | -710.80 |
| Total des Charges | -2 351 458.49 |
|  |  |
| Revenus/pertes net(te)s de placements | 46 255 630.81 |
|  |  |
| Bénéfices/(pertes) réalisé(e)s (note 1) |  |
| Bénéfice/(perte) réalisé(e) sur titres évalués à la valeur de marché hors options | 9 257 955.49 |
| Bénéfice/perte réalisé(e) sur options | -497 250.00 |
| Bénéfice/perte réalisé(e) sur contrats financiers à terme | 2 310 228.46 |
| Bénéfice/(perte) réalisé(e) sur contrats de change à terme | -2 588 005.59 |
| Bénéfice/(perte) réalisé(e) sur swaps | -513 097.77 |
| Bénéfice/(perte) de change réalisé(e) | 1 363 784.20 |
| Total des Bénéfices/(pertes) réalisé(e)s | 9 333 614.79 |
|  |  |
| Bénéfice/(perte) net(te) réalisé(e) au cours de la période | 55 589 245.60 |
|  |  |
| Fluctuations de la plus-/(moins)-value non réalisée (note 1) |  |
| Plus-/(moins)-value non réalisée sur titres évalués à la valeur de marché hors options | 55 318 020.58 |
| Plus-/(moins)-value non réalisée sur options | 496 925.00 |
| Plus-/(moins)-value non réalisée sur contrats financiers à terme | -3 662 178.36 |
| Plus-/(moins)-value non réalisée sur contrats de change à terme | -1 353 345.21 |
| Total des Fluctuations de la plus-/(moins)-value non réalisée | 50 799 422.01 |
|  |  |
| Augmentation/(diminution) nette de l’actif net issue de l’activité | 106 388 667.61 |

UBS (Lux) Bond SICAV – USD Investment Grade Corporates (USD)
Rapport semestriel au 30 novembre 2019
| Fluctuations de l’actif net |  |
| --- | --- |
|  | USD |
|  | 1.6.2019-30.11.2019 |
| Actif net au début de la période | 2 693 562 132.32 |
| Souscriptions | 126 581 445.20 |
| Rachats | 	-242 518 068.15	 |
| Total des Entrées/(sorties) de capitaux | -115 936 622.95 |
| Revenus/pertes net(te)s de placements | 46 255 630.81 |
| Total des Bénéfices/(pertes) réalisé(e)s | 9 333 614.79 |
| Total des Fluctuations de la plus-/(moins)-value non réalisée | 	50 799 422.01	 |
| Augmentation/(diminution) nette de l’actif net issue de l’activité | 106 388 667.61 |
| Actif net à la fin de la période | 2 684 014 176.98 |
| Evolution des actions en circulation |  |
|  | 1.6.2019-30.11.2019 |
| Catégorie | F-acc |
| Nombre d’actions en circulation au début de la période | 5 358.2820 |
| Nombre d’actions émises | 803.2390 |
| Nombre d’actions rachetées | -497.6700 |
| Nombre d’actions en circulation à la fin de la période | 5 663.8510 |
| Catégorie | U-X-acc |
| Nombre d’actions en circulation au début de la période | 170 144.1720 |
| Nombre d’actions émises | 3 335.0000 |
| Nombre d’actions rachetées | -15 966.3270 |
| Nombre d’actions en circulation à la fin de la période | 157 512.8450 |
| Catégorie | (CHF hedged) U-X-acc |
| Nombre d’actions en circulation au début de la période | 25 622.9160 |
| Nombre d’actions émises | 220.0000 |
| Nombre d’actions rachetées | -876.0000 |
| Nombre d’actions en circulation à la fin de la période | 24 966.9160 |

UBS (Lux) Bond SICAV – USD Investment Grade Corporates (USD) Rapport semestriel au 30 novembre 2019

## Etat du portefeuille-titres et autres actifs nets au 30 novembre 2019
| Dénomination | Nombre/ | Evaluation en USD | 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	ABBVIE INC 3.20000% 15-06.11.22 | 1 500 000.00 | 1 535 977.05 | 0.06 |
| USD	ABBVIE INC 4.25000% 18-14.11.28 | 5 000 000.00 | 5 509 761.00 | 0.21 |
| USD	ABN AMRO BANK NV-REG-S 2.45000% 15-04.06.20 | 1 830 000.00 | 1 833 147.60 | 0.07 |
| USD	AETNA INC 2.80000% 16-15.06.23 | 11 000 000.00 | 11 165 906.40 | 0.42 |
| USD	AETNA INC 3.50000% 14-15.11.24 | 3 750 000.00 | 3 916 586.25 | 0.15 |
| USD	ALIBABA GROUP HOLDING LTD 2.80000% 17-06.06.23 | 2 500 000.00 | 2 528 025.00 | 0.09 |
| USD	ALLERGAN FUNDING SCS 3.45000% 15-15.03.22 | 9 500 000.00 | 9 706 783.65 | 0.36 |
| USD	ALTRIA GROUP INC 3.49000% 19-14.02.22 | 3 500 000.00 | 3 594 820.25 | 0.13 |
| USD	ALTRIA GROUP INC 4.80000% 19-14.02.29 | 9 500 000.00 | 10 502 936.85 | 0.39 |
| USD	AMERICAN EXPRESS CO-SUB 3.62500% 14-05.12.24 | 5 500 000.00 | 5 805 281.90 | 0.22 |
| USD	AMERICAN INTERNATIONAL GROUP INC 4.25000% 19-15.03.29 | 3 000 000.00 | 3 323 653.20 | 0.12 |
| USD	AMGEN INC 3.62500% 14-22.05.24 | 4 200 000.00 | 4 454 854.32 | 0.17 |
| USD	ANGLO AMERICAN CAPITAL PLC-144A 4.87500% 15-14.05.25 | 8 000 000.00 | 8 701 993.60 | 0.32 |
| USD	ANHEUSER-BUSCH INBEV WORLDWIDE INC 4.75000% 19-23.01.29 | 12 000 000.00 | 13 925 970.00 | 0.52 |
| USD	APPLE INC 2.45000% 16-04.08.26 | 4 000 000.00 | 4 062 019.20 | 0.15 |
| USD	APPLE INC 3.00000% 17-09.02.24 | 3 250 000.00 | 3 376 531.92 | 0.13 |
| USD	AT&T INC 4.30000% 18-15.02.30 | 11 750 000.00 | 12 916 453.05 | 0.48 |
| USD	AT&T INC 4.35000% 19-01.03.29 | 7 500 000.00 | 8 274 203.25 | 0.31 |
| USD	BALL CORP 4.37500% 15-15.12.20 | 3 000 000.00 | 3 060 000.00 | 0.11 |
| USD	BANCO SANTANDER SA 3.50000% 17-11.04.22 | 4 400 000.00 | 4 516 923.40 | 0.17 |
| USD	BANCO SANTANDER SA 3.12500% 17-23.02.23 | 4 600 000.00 | 4 686 399.04 | 0.17 |
| USD	BANCO SANTANDER SA 4.25000% 17-11.04.27 | 10 000 000.00 | 10 772 176.00 | 0.40 |
| USD	BANK OF NOVA SCOTIA-SUB 4.50000% 15-16.12.25 | 6 050 000.00 | 6 595 426.26 | 0.25 |
| USD	BARCLAYS BANK PLC-144A-SUB 10.17900% 09-12.06.21 | 7 480 000.00 | 8 339 581.40 | 0.31 |
| USD	BARCLAYS PLC 3.20000% 16-10.08.21 | 6 220 000.00 | 6 297 586.41 | 0.23 |
| USD	BARCLAYS PLC 3.68400% 17-10.01.23 | 2 250 000.00 | 2 299 631.40 | 0.09 |
| USD	BARCLAYS PLC-SUB 4.37500% 14-11.09.24 | 11 750 000.00 | 12 256 825.67 | 0.46 |
| USD	BAT CAPITAL CORP 2.76400% 18-15.08.22 | 16 000 000.00 | 16 174 417.60 | 0.60 |
| USD	BAT CAPITAL CORP 3.22200% 18-15.08.24 | 2 500 000.00 | 2 545 150.75 | 0.09 |
| USD	BP CAPITAL MARKETS AMERICA INC 3.41000% 19-11.02.26 | 10 000 000.00 | 10 570 384.00 | 0.39 |
| USD	BP CAPITAL MARKETS PLC 2.50000% 12-06.11.22 | 10 000 000.00 | 10 154 998.00 | 0.38 |
| USD	BROADCOM CORP/CAYMAN FIN LTD 2.20000% 18-15.01.21 | 3 000 000.00 | 2 995 834.14 | 0.11 |
| USD	CAPITAL ONE FINANCIAL CORP-SUB 4.20000% 15-29.10.25 | 15 000 000.00 | 16 092 397.50 | 0.60 |
| USD	CAPITAL ONE NA 2.95000% 14-23.07.21 | 3 500 000.00 | 3 545 768.10 | 0.13 |
| USD	CCO LLC/CAPITAL 3.57900% 16-23.07.20 | 3 897 000.00 | 3 925 017.09 | 0.15 |
| USD	CCO LLC/CAPITAL 5.05000% 19-30.03.29 | 4 000 000.00 | 4 506 459.60 | 0.17 |
| USD	CIGNA CORP 3.75000% 19-15.07.23 | 5 000 000.00 | 5 227 179.50 | 0.19 |
| USD	CIGNA CORP 4.12500% 19-15.11.25 | 7 000 000.00 | 7 553 146.30 | 0.28 |
| USD	CITIGROUP INC 2.75000% 17-25.04.22 | 10 000 000.00 | 10 147 799.00 | 0.38 |
| USD	CITIGROUP INC 2.90000% 16-08.12.21 | 10 000 000.00 | 10 150 314.00 | 0.38 |
| USD	CITIGROUP INC 3.20000% 16-21.10.26 | 4 000 000.00 | 4 150 600.40 | 0.15 |
| USD	CITIGROUP INC 3.70000% 16-12.01.26 | 8 750 000.00 | 9 330 611.50 | 0.35 |
| USD	CITIGROUP INC-SUB 3.87500% 15-26.03.25 | 2 500 000.00 | 2 640 332.50 | 0.10 |
| USD	CITIGROUP INC-SUB 4.40000% 15-10.06.25 | 5 000 000.00 | 5 401 128.00 | 0.20 |
| USD	CITIGROUP INC-SUB 4.45000% 15-29.09.27 | 18 000 000.00 | 19 810 992.60 | 0.74 |
| USD	CMS ENERGY CORP 3.60000% 15-15.11.25 | 3 000 000.00 | 3 135 036.90 | 0.12 |
| USD	COMCAST CORP 2.65000% 19-01.02.30 | 8 500 000.00 | 8 536 367.25 | 0.32 |
| USD	COMCAST CORP 3.00000% 17-01.02.24 | 2 500 000.00 | 2 585 923.25 | 0.10 |
| USD	COMCAST CORP 3.15000% 16-01.03.26 | 2 249 000.00 | 2 360 283.89 | 0.09 |
| USD	COMCAST CORP 3.95000% 18-15.10.25 | 18 922 000.00 | 20 633 018.07 | 0.77 |
| USD	COMCAST CORP 4.15000% 18-15.10.28 | 5 000 000.00 | 5 636 746.50 | 0.21 |
| USD	CORPORACION ANDINA DE FOMENTO 2.12500% 16-27.09.21 | 3 660 000.00 | 3 640 419.00 | 0.14 |
| USD	CREDIT AGRICOLE SA-144A-SUB 4.37500% 15-17.03.25 | 4 500 000.00 | 4 803 515.10 | 0.18 |
| USD	CREDIT SUISSE GROUP AG-144A 3.57400% 17-09.01.23 | 1 250 000.00 | 1 280 601.13 | 0.05 |
| USD	CREDIT SUISSE GROUP AG-144A 4.28200% 17-09.01.28 | 10 000 000.00 | 10 873 869.00 | 0.40 |
| USD	CREDIT SUISSE GRP FDNG GUERNSEY 3.80000% 16-15.09.22 | 10 000 000.00 | 10 399 660.00 | 0.39 |
| USD	CREDIT SUISSE GRP FDNG GUERNSEY 4.55000% 16-17.04.26 | 2 250 000.00 | 2 499 803.77 | 0.09 |
| USD	CVS HEALTH CORP 2.62500% 19-15.08.24 | 5 000 000.00 | 5 040 208.50 | 0.19 |
| USD	CVS HEALTH CORP 2.75000% 12-01.12.22 | 9 127 000.00 | 9 264 406.07 | 0.35 |
| USD	CVS HEALTH CORP 3.70000% 18-09.03.23 | 10 000 000.00 | 10 413 256.00 | 0.39 |
| USD	CVS HEALTH CORP 3.87500% 15-20.07.25 | 3 500 000.00 | 3 730 089.65 | 0.14 |
| USD	CVS HEALTH CORP 4.10000% 18-25.03.25 | 8 500 000.00 | 9 127 618.75 | 0.34 |
| USD	CVS HEALTH CORP 4.75000% 16-01.12.22 | 1 000 000.00 | 1 061 979.10 | 0.04 |
| USD	DEUTSCHE TELEKOM INTL FINANCE BV-REG-S 2.22500% 17-17.01.20 | 1 830 000.00 | 1 830 273.58 | 0.07 |
| USD	DOMINION ENERGY INC 2.85000% 16-15.08.26 | 2 000 000.00 | 2 026 799.20 | 0.08 |
| USD	DTE ENERGY CO 2.95000% 19-01.03.30 | 9 000 000.00 | 8 993 391.39 | 0.33 |
| USD	DTE ENERGY CO 3.30000% 15-15.06.22 | 7 172 000.00 | 7 343 016.34 | 0.27 |
| USD	DTE ENERGY CO 3.40000% 19-15.06.29 | 8 000 000.00 | 8 295 712.80 | 0.31 |
| USD	DUKE ENERGY CORP 1.80000% 16-01.09.21 | 5 463 000.00 | 5 446 406.85 | 0.20 |
| USD	DUKE ENERGY CORP 2.65000% 16-01.09.26 | 1 107 000.00 | 1 114 987.56 | 0.04 |
| USD	DUKE ENERGY CORP 3.75000% 14-15.04.24 | 2 500 000.00 | 2 648 880.00 | 0.10 |
| USD	DUKE ENERGY CORP 3.95000% 13-15.10.23 | 1 750 000.00 | 1 851 956.75 | 0.07 |
| USD	EATON CORP 2.75000% 13-02.11.22 | 5 834 000.00 | 5 950 311.29 | 0.22 |
| USD	ELANCO ANIMAL HEALTH INC 4.90000% 19-28.08.28 | 1 950 000.00 | 2 108 564.25 | 0.08 |
| USD	ENCANA CORP 3.90000% 11-15.11.21 | 2 370 000.00 | 2 423 684.29 | 0.09 |
| USD	ENI SPA-144A 4.00000% 18-12.09.23 | 6 500 000.00 | 6 847 700.60 | 0.25 |
| USD	ENTERPRISE PRODUCTS OPERATING LP 4.05000% 11-15.02.22 | 6 000 000.00 | 6 252 592.80 | 0.23 |
| USD	ENTERPRISE PRODUCTS OPERATING LLC 3.70000% 15-15.02.26 | 2 500 000.00 | 2 652 372.00 | 0.10 |
| USD	ENTERPRISE PRODUCTS OPERATING LLC 3.50000% 18-01.02.22 | 12 000 000.00 | 12 369 526.80 | 0.46 |
| USD	FEDEX CORP 3.10000% 19-05.08.29 | 4 911 000.00 | 4 877 237.02 | 0.18 |
| USD	FIRSTENERGY CORP 2.85000% 17-15.07.22 | 5 000 000.00 | 5 078 432.00 | 0.19 |
| USD	FIRSTENERGY CORP 3.90000% 17-15.07.27 | 10 000 000.00 | 10 700 366.00 | 0.40 |
| USD	FISERV INC 3.20000% 19-01.07.26 | 10 000 000.00 | 10 358 015.00 | 0.39 |
| USD	FISERV INC 3.50000% 19-01.07.29 | 3 000 000.00 | 3 151 525.80 | 0.12 |
| USD	FORD MOTOR CREDIT CO LLC 4.54200% 19-01.08.26 | 7 000 000.00 | 7 041 859.30 | 0.26 |
| USD	FREEPORT-MCMORAN INC 3.55000% 12-01.03.22 | 3 463 000.00 | 3 480 315.00 | 0.13 |
| USD	GE CAPITAL INTL FUNDING CO 3.37300% 16-15.11.25 | 4 000 000.00 | 4 134 559.60 | 0.15 |
| USD	GE CAPITAL INTL FUNDING CO 2.34200% 16-15.11.20 | 24 000 000.00 | 23 974 884.00 | 0.89 |

UBS (Lux) Bond SICAV – USD Investment Grade Corporates (USD)
Rapport semestriel au 30 novembre 2019
|  | Dénomination | Nombre/ | Evaluation en USD | en % |
| --- | --- | --- | --- | --- |
|  | Nominal | Bénéfice/(perte) non | de |
|  |  | réalisé(e) sur futures/ | l’actif |
|  |  | Contrats de | net |
|  |  | change à terme/ |  |
|  |  | Swaps (note 1) |  |
|  |  |  |  |  |
| USD | GENERAL MOTORS FINANCIAL CO INC 4.20000% 16-01.03.21 | 9 942 000.00 | 10 151 666.84 | 0.38 |
| USD | GENERAL MOTORS FINANCIAL CO INC 3.70000% 16-09.05.23 | 3 000 000.00 | 3 086 839.20 | 0.11 |
| USD | GENERAL MOTORS FINANCIAL CO INC 3.20000% 16-06.07.21 | 9 000 000.00 | 9 112 049.10 | 0.34 |
| USD | GENERAL MOTORS FINANCIAL CO INC 4.00000% 16-06.10.26 | 1 750 000.00 | 1 793 227.45 | 0.07 |
| USD | GENERAL MOTORS FINANCIAL CO 3.85000% 18-05.01.28 | 5 000 000.00 | 5 035 405.00 | 0.19 |
| USD | GENERAL MOTORS FINANCIAL CO INC 5.10000% 19-17.01.24 | 2 900 000.00 | 3 134 154.99 | 0.12 |
| USD | GENERAL MOTORS FINANCIAL CO INC 3.55000% 19-08.07.22 | 2 000 000.00 | 2 053 223.00 | 0.08 |
| USD | GILEAD SCIENCES INC 4.40000% 11-01.12.21 | 5 000 000.00 | 5 216 879.50 | 0.19 |
| USD | GILEAD SCIENCES INC 3.50000% 14-01.02.25 | 5 000 000.00 | 5 284 919.50 | 0.20 |
| USD | GILEAD SCIENCES INC 3.65000% 15-01.03.26 | 2 358 000.00 | 2 534 644.62 | 0.09 |
| USD | GOLDMAN SACHS GROUP INC 5.75000% 12-24.01.22 | 15 000 000.00 | 16 103 620.50 | 0.60 |
| USD | GOLDMAN SACHS GROUP INC-SUB 4.25000% 15-21.10.25 | 5 000 000.00 | 5 398 838.50 | 0.20 |
| USD | GOLDMAN SACHS GROUP INC 2.62500% 16-25.04.21 | 5 000 000.00 | 5 035 050.50 | 0.19 |
| USD | GOLDMAN SACHS GROUP INC/THE 3.20000% 18-23.02.23 | 9 500 000.00 | 9 771 113.85 | 0.36 |
| USD | GOLDMAN SACHS GROUP INC 2.87500% 16-25.02.21 | 2 580 000.00 | 2 604 334.81 | 0.10 |
| USD | HCA INC 4.12500% 19-15.06.29 | 3 000 000.00 | 3 160 497.90 | 0.12 |
| USD | HCP INC 3.40000% 15-01.02.25 | 5 000 000.00 | 5 235 333.00 | 0.19 |
| USD | HCP INC 4.00000% 15-01.06.25 | 7 132 000.00 | 7 677 063.10 | 0.29 |
| USD | HOME DEPOT INC/THE 3.90000% 18-06.12.28 | 3 250 000.00 | 3 663 516.35 | 0.14 |
| USD | HSBC BANK PLC-REG-S 4.75000% 11-19.01.21 | 1 220 000.00 | 1 256 263.89 | 0.05 |
| USD | HSBC HOLDINGS PLC 2.95000% 16-25.05.21 | 4 830 000.00 | 4 891 825.45 | 0.18 |
| USD | HSBC HOLDINGS PLC 3.40000% 16-08.03.21 | 17 225 000.00 | 17 499 960.95 | 0.65 |
| USD | HSBC HOLDINGS PLC 4.30000% 16-08.03.26 | 5 441 000.00 | 5 916 517.82 | 0.22 |
| USD | HSBC HOLDINGS PLC-SUB 4.37500% 16-23.11.26 | 1 750 000.00 | 1 882 842.15 | 0.07 |
| USD | HUMANA INC 3.12500% 19-15.08.29 | 5 000 000.00 | 5 076 317.00 | 0.19 |
| USD | HYUNDAI CAPITAL SERVICES INC-REG-S 2.62500% 15-29.09.20 | 1 220 000.00 | 1 221 291.00 | 0.05 |
| USD | INTERNATIONAL BUSINESS MACHINES CORP 3.37500% 13-01.08.23 | 5 487 000.00 | 5 722 410.40 | 0.21 |
| USD | INTERNATIONAL BUSINESS MACHINES CORP 3.45000% 16-19.02.26 | 7 500 000.00 | 7 986 039.00 | 0.30 |
| USD | INTERNATIONAL LEASE FINANCE CORP 8.25000% 10-15.12.20 | 10 850 000.00 | 11 517 703.57 | 0.43 |
| USD | INTERNATIONAL LEASE FINANCE CORP 5.87500% 12-15.08.22 | 1 250 000.00 | 1 364 005.62 | 0.05 |
| USD | INTERNATIONAL LEASE FINANCE CORP 4.62500% 13-15.04.21 | 1 300 000.00 | 1 342 042.39 | 0.05 |
| USD | JPMORGAN CHASE & CO 4.50000% 12-24.01.22 | 1 750 000.00 | 1 836 231.60 | 0.07 |
| USD | JPMORGAN CHASE & CO 2.55000% 16-01.03.21 | 2 750 000.00 | 2 768 381.55 | 0.10 |
| USD | JPMORGAN CHASE & CO-SUB 3.87500% 14-10.09.24 | 19 500 000.00 | 20 724 648.75 | 0.77 |
| USD | KIA MOTORS CORP-144A 3.00000% 17-25.04.23 | 6 000 000.00 | 6 063 750.00 | 0.23 |
| USD | KINDER MORGAN INC 3.15000% 17-15.01.23 | 7 500 000.00 | 7 660 272.00 | 0.29 |
| USD | KINROSS GOLD CORP 5.95000% 14-15.03.24 | 2 250 000.00 | 2 491 492.50 | 0.09 |
| USD | KROGER CO 3.50000% 16-01.02.26 | 2 000 000.00 | 2 096 948.20 | 0.08 |
| USD | LENNAR CORP 4.75000% 18-29.11.27 | 5 000 000.00 | 5 387 500.00 | 0.20 |
| USD | LLOYDS BANKING GROUP PLC-SUB 4.50000% 14-04.11.24 | 1 293 000.00 | 1 374 733.11 | 0.05 |
| USD | LLOYDS BANKING GROUP PLC 3.00000% 17-11.01.22 | 7 805 000.00 | 7 912 193.09 | 0.29 |
| USD | MARATHON OIL CORP 3.85000% 15-01.06.25 | 3 250 000.00 | 3 404 637.28 | 0.13 |
| USD | MARATHON PETROLEUM CORP 5.12500% 11-01.03.21 | 2 250 000.00 | 2 332 672.65 | 0.09 |
| USD | MGM RESORTS INTL 7.75000% 12-15.03.22 | 1 000 000.00 | 1 121 250.00 | 0.04 |
| USD | MITSUBISHI UFJ FINANCIAL GROUP INC 2.19000% 16-13.09.21 | 1 677 000.00 | 1 676 413.05 | 0.06 |
| USD | MITSUBISHI UFJ FINANCIAL GROUP INC 2.99800% 17-22.02.22 | 10 000 000.00 | 10 170 600.00 | 0.38 |
| USD | MITSUBISHI UFJ FINANCIAL GROUP INC 3.45500% 18-02.03.23 | 14 500 000.00 | 15 008 370.00 | 0.56 |
| USD | MIZUHO FINANCIAL GROUP INC 2.60100% 17-11.09.22 | 7 250 000.00 | 7 308 797.50 | 0.27 |
| USD | MIZUHO FINANCIAL GROUP INC-REG-S 2.63200% 16-12.04.21 | 1 708 000.00 | 1 716 932.84 | 0.06 |
| USD | MORGAN STANLEY 2.50000% 16-21.04.21 | 2 250 000.00 | 2 263 878.68 | 0.08 |
| USD | MORGAN STANLEY 2.75000% 17-19.05.22 | 7 500 000.00 | 7 605 038.25 | 0.28 |
| USD | MORGAN STANLEY 3.62500% 17-20.01.27 | 2 500 000.00 | 2 664 854.25 | 0.10 |
| USD | MORGAN STANLEY-SUB 5.00000% 13-24.11.25 | 5 000 000.00 | 5 628 240.50 | 0.21 |
| USD | MPLX LP 4.87500% 16-01.12.24 | 5 525 000.00 | 5 977 660.49 | 0.22 |
| USD | NEXTERA ENERGY CAP 2.90000% 19-01.04.22 | 7 500 000.00 | 7 637 417.25 | 0.28 |
| USD | NOBLE ENERGY INC 3.25000% 19-15.10.29 | 8 800 000.00 | 8 713 919.10 | 0.32 |
| USD | NOKIA OYJ 4.37500% 17-12.06.27 | 2 352 000.00 | 2 420 454.96 | 0.09 |
| USD | NORDEA BANK ABP-REG-S 4.87500% 11-14.01.21 | 2 440 000.00 | 2 516 653.09 | 0.09 |
| USD | OCCIDENTAL PETROLEUM CORP 3.50000% 19-15.08.29 | 5 000 000.00 | 5 049 036.00 | 0.19 |
| USD | OCCIDENTAL PETROLEUM CORP 2.90000% 19-15.08.24 | 11 000 000.00 | 11 051 747.30 | 0.41 |
| USD | PHILIP MORRIS INTERNATIONAL INC 2.62500% 17-18.02.22 | 5 000 000.00 | 5 070 644.00 | 0.19 |
| USD | PNC BANK NATIONAL ASSOCIATION 2.95000% 15-23.02.25 | 2 000 000.00 | 2 065 166.60 | 0.08 |
| USD | PNC BANK NATIONAL ASSOCIATION 2.55000% 16-09.12.21 | 8 250 000.00 | 8 347 518.30 | 0.31 |
| USD | PNC FINANCIAL SERVICS GROUP 2.20000% 19-01.11.24 | 3 500 000.00 | 3 490 955.82 | 0.13 |
| USD | PPL CAPITAL FUNDING INC 3.95000% 14-15.03.24 | 2 750 000.00 | 2 895 386.73 | 0.11 |
| USD | PUBLIC STORAGE 3.38500% 19-01.05.29 | 3 000 000.00 | 3 209 054.10 | 0.12 |
| USD | QUALCOMM INC 2.90000% 17-20.05.24 | 8 000 000.00 | 8 230 675.20 | 0.31 |
| USD | QUALCOMM INC 3.00000% 15-20.05.22 | 6 250 000.00 | 6 398 625.63 | 0.24 |
| USD | QUALCOMM INC 3.25000% 17-20.05.27 | 4 750 000.00 | 4 978 084.55 | 0.19 |
| USD | RABOBANK NEDERLAND-SUB 4.62500% 13-01.12.23 | 1 750 000.00 | 1 889 513.32 | 0.07 |
| USD | REYNOLDS AMERICAN INC 3.25000% 15-12.06.20 | 4 000 000.00 | 4 022 828.00 | 0.15 |
| USD | ROCKWELL COLLINS INC 3.20000% 17-15.03.24 | 10 000 000.00 | 10 398 836.00 | 0.39 |
| USD | ROCKWELL COLLINS INC 3.50000% 17-15.03.27 | 6 000 000.00 | 6 398 851.80 | 0.24 |
| USD | ROYAL BANK OF SCOTLAND GROUP PLC 4.80000% 16-05.04.26 | 10 000 000.00 | 11 082 267.00 | 0.41 |
| USD | ROYAL CARIBBEAN CRUISES LTD 5.25000% 12-15.11.22 | 1 750 000.00 | 1 896 734.00 | 0.07 |
| USD | SABINE PASS LIQUEFACTION LLC 5.00000% 17-15.03.27 | 4 850 000.00 | 5 309 403.16 | 0.20 |
| USD | SANTANDER UK GROUP HOLD PLC 3.57100% 17-10.01.23 | 1 098 000.00 | 1 121 882.38 | 0.04 |
| USD | SANTANDER UK PLC 2.50000% 18-05.01.21 | 2 850 000.00 | 2 861 872.25 | 0.11 |
| USD | SCENTRE GROUP TRUST 1 /2-REG-S 2.37500% 15-28.04.21 | 1 830 000.00 | 1 828 902.00 | 0.07 |
| USD | SCHLUMBERGER INVESTMENT SA-REG-S 3.30000% 11-14.09.21 | 2 745 000.00 | 2 796 195.34 | 0.10 |
| USD | SHERWIN-WILLIAMS CO 2.75000% 17-01.06.22 | 2 700 000.00 | 2 742 773.13 | 0.10 |
| USD | SHIRE ACQUISITIONS INVT IRELAND DAC 2.40000% 16-23.09.21 | 16 179 000.00 | 16 252 117.75 | 0.61 |
| USD | SOCIETE GENERALE SA-144A 2.50000% 16-08.04.21 | 4 470 000.00 | 4 486 403.56 | 0.17 |
| USD | SOUTHERN CO 2.35000% 16-01.07.21 | 15 000 000.00 | 15 059 605.50 | 0.56 |
| USD | SOUTHERN CO 2.95000% 16-01.07.23 | 1 710 000.00 | 1 743 729.92 | 0.06 |
| USD | SOUTHWEST AIRLINES CO 2.75000% 17-16.11.22 | 5 500 000.00 | 5 563 296.75 | 0.21 |
| USD | SOUTHWEST AIRLINES CO 3.45000% 17-16.11.27 | 14 750 000.00 | 15 584 254.10 | 0.58 |
| USD | SOUTHWESTERN ELECTRIC POWER 3.55000% 12-15.02.22 | 1 750 000.00 | 1 792 677.08 | 0.07 |
| USD | STEEL DYNAMICS INC 5.00000% 17-15.12.26 | 3 500 000.00 | 3 716 300.00 | 0.14 |
| USD | SUMITOMO MITSUI FIN GP INC 2.93400% 16-09.03.21 | 19 109 000.00 | 19 294 166.21 | 0.72 |
| USD | SUNTRUST BANK-SUB 3.30000% 16-15.05.26 | 27 494 000.00 | 28 635 088.98 | 1.07 |
| USD | SUNTRUST BANKS INC 2.90000% 16-03.03.21 | 9 475 000.00 | 9 563 633.89 | 0.36 |
| USD | SYNGENTA FINANCE NV-144A 4.44100% 18-24.04.23 | 7 000 000.00 | 7 297 621.10 | 0.27 |
| USD | TIME WARNER CABLE LLC 5.00000% 09-01.02.20 | 5 100 000.00 | 5 120 786.07 | 0.19 |
| USD | UNION PACIFIC CORP 2.75000% 13-15.04.23 | 10 000 000.00 | 10 190 882.00 | 0.38 |
| USD | UNION PACIFIC CORP 3.95000% 18-10.09.28 | 5 500 000.00 | 6 085 258.30 | 0.23 |

UBS (Lux) Bond SICAV – USD Investment Grade Corporates (USD) Rapport semestriel au 30 novembre 2019
|  | Dénomination | Nombre/ | Evaluation en USD | en % |
| --- | --- | --- | --- | --- |
|  |  | Nominal | Bénéfice/(perte) non | de |
|  |  |  | réalisé(e) sur futures/ | l’actif |
|  |  |  | Contrats de | net |
|  |  |  | change à terme/ |  |
|  |  |  | Swaps (note 1) |  |
|  |  |  |  |  |
| USD | UNION PACIFIC CORP 3.70000% 19-01.03.29 | 15 000 000.00 | 16 361 238.00 | 0.61 |
| USD | UNITED RENTALS NORTH AMERICA INC 5.50000% 16-15.05.27 | 2 000 000.00 | 2 135 000.00 | 0.08 |
| USD | UNITED RENTALS NORTH AMERICA INC 3.87500% 19-15.11.27 | 11 000 000.00 | 11 096 250.00 | 0.41 |
| USD | UNITED TECHNOLOGIES CORP 4.12500% 18-16.11.28 | 10 000 000.00 | 11 251 350.00 | 0.42 |
| USD | UNITED TECHNOLOGIES CORP 3.95000% 18-16.08.25 | 7 000 000.00 | 7 609 761.60 | 0.28 |
| USD | UNITEDHEALTH GROUP INC 3.50000% 18-15.02.24 | 10 000 000.00 | 10 558 870.00 | 0.39 |
| USD | VEREIT OPERATING PARTNERSHIP LP 4.12500% 16-01.06.21 | 3 000 000.00 | 3 074 324.10 | 0.11 |
| USD | VERIZON COMMUNICATIONS INC 4.67200% 15-15.03.55 | 1 250 000.00 | 1 563 636.12 | 0.06 |
| USD | VERIZON COMMUNICATIONS INC 4.12500% 17-16.03.27 | 2 250 000.00 | 2 500 728.53 | 0.09 |
| USD | VERIZON COMMUNICATIONS INC 3.37600% 18-15.02.25 | 2 514 000.00 | 2 655 611.11 | 0.10 |
| USD | VERIZON COMMUNICATIONS INC 4.32900% 18-21.09.28 | 6 500 000.00 | 7 372 115.40 | 0.27 |
| USD | VIRGINIA ELECTRIC & POWER CO 2.75000% 13-15.03.23 | 2 500 000.00 | 2 549 050.75 | 0.09 |
| USD | VMWARE INC 3.90000% 17-21.08.27 | 8 000 000.00 | 8 380 996.00 | 0.31 |
| USD | WALGREENS BOOTS ALLIANCE INC 3.80000% 14-18.11.24 | 5 500 000.00 | 5 688 711.05 | 0.21 |
| USD | WALT DISNEY CO 1.75000% 19-30.08.24 | 20 000 000.00 | 19 776 260.00 | 0.74 |
| USD | WESTERN DIGITAL CORP 4.75000% 18-15.02.26 | 6 800 000.00 | 7 004 000.00 | 0.26 |
| USD | WESTERN GAS PARTNERS LP 4.75000% 18-15.08.28 | 2 500 000.00 | 2 423 949.85 | 0.09 |
| USD | WESTERN GAS PARTNERS LP 5.50000% 18-15.08.48 | 2 500 000.00 | 2 125 879.95 | 0.08 |
| USD | WESTPAC BANKING CORP 2.70000% 16-19.08.26 | 9 661 000.00 | 9 772 777.77 | 0.36 |
| USD | WEYERHAEUSER CO 4.00000% 19-15.11.29 | 9 500 000.00 | 10 351 138.25 | 0.39 |
| USD | WILLIAMS COS INC/THE LP 3.35000% 12-15.08.22 | 10 000 000.00 | 10 246 690.00 | 0.38 |
| USD | ZOETIS INC 3.90000% 18-20.08.28 | 8 500 000.00 | 9 277 071.70 | 0.35 |
| Total USD |  |  | 1 330 369 878.44 | 49.57 |
| Total des Billets, taux fixe |  | 1 330 369 878.44 | 49.57 |
| Billets, taux variable |  |  |  |
| USD |  |  |  |
| USD	BANK OF AMERICA CORP 3.366%/VAR 18-23.01.26 | 12 000 000.00 | 12 524 398.80 | 0.47 |
| USD	CITIGROUP INC 2.876%/VAR 17-24.07.23 | 14 000 000.00 | 14 213 339.00 | 0.53 |
| USD	GOLDMAN SACHS GROUP INC 3.691%/VAR 17-05.06.28 | 6 500 000.00 | 6 890 633.11 | 0.26 |
| USD	HSBC HOLDINGS PLC 3.803%/VAR 19-11.03.25 | 6 000 000.00 | 6 271 251.60 | 0.23 |
| USD	HSBC HOLDINGS PLC 3.973%/VAR 19-22.05.30 | 6 000 000.00 | 6 415 055.40 | 0.24 |
| USD	JPMORGAN CHASE & CO 3.702%/VAR 19-06.05.30 | 14 500 000.00 | 15 599 098.55 | 0.58 |
| Total USD |  | 61 913 776.46 | 2.31 |
| Total des Billets, taux variable |  | 61 913 776.46 | 2.31 |
| Medium-Term Notes, taux fixe |  |  |  |
| USD |  |  |  |
| USD	ABN AMRO BANK NV-144A 2.65000% 18-19.01.21 | 14 000 000.00 | 14 087 844.40 | 0.53 |
| USD	BANK OF AMERICA CORP-SUB 4.20000% 14-26.08.24 | 5 500 000.00 | 5 893 312.70 | 0.22 |
| USD	BANK OF AMERICA CORP-SUB 4.45000% 16-03.03.26 | 14 500 000.00 | 15 918 394.35 | 0.59 |
| USD	BANK OF AMERICA CORP 3.24800% 16-21.10.27 | 10 000 000.00 | 10 425 800.00 | 0.39 |
| USD	BANK OF AMERICA CORP-SUB 4.18300% 16-25.11.27 | 4 000 000.00 | 4 332 663.20 | 0.16 |
| USD	BRANCH BANKING & TRUST CO 2.85000% 14-01.04.21 | 3 250 000.00 | 3 284 128.90 | 0.12 |
| USD	CREDIT AGRICOLE SA LONDON-REG-S 2.75000% 15-10.06.20 | 1 830 000.00 | 1 836 405.37 | 0.07 |
| USD	DANSKE BANK AS-REG-S 2.75000% 15-17.09.20 | 3 050 000.00 | 3 062 609.01 | 0.11 |
| USD	DANSKE BANK AS-REG-S 2.80000% 16-10.03.21 | 1 830 000.00 | 1 842 792.62 | 0.07 |
| USD	DEUTSCHE BANK AG/NEW YORK NY 3.12500% 18-13.01.21 | 3 926 000.00 | 3 934 617.96 | 0.15 |
| USD	JOHN DEERE CAPITAL CORP 3.15000% 11-15.10.21 | 7 600 000.00 | 7 772 113.40 | 0.29 |
| USD	MDGH - GMTN BV-REG-S 5.00000% 10-15.11.20 | 2 745 000.00 | 2 813 625.00 | 0.11 |
| USD	MORGAN STANLEY-SUB 3.95000% 15-23.04.27 | 25 000 000.00 | 26 765 437.51 | 1.00 |
| USD	MORGAN STANLEY-SUB 4.10000% 13-22.05.23 | 1 750 000.00 | 1 849 206.97 | 0.07 |
| USD	ROYAL BANK OF CANADA 3.70000% 18-05.10.23 | 3 000 000.00 | 3 164 675.70 | 0.12 |
| USD	SANTANDER UK GROUP HOLD PLC 3.12500% 16-08.01.21 | 4 178 000.00 | 4 212 651.08 | 0.16 |
| USD	SAUDI ARABIAN OIL CO-144A 2.87500% 19-16.04.24 | 7 750 000.00 | 7 858 500.00 | 0.29 |
| USD	SAUDI ARABIAN OIL CO-144A 3.50000% 19-16.04.29 | 5 000 000.00 | 5 221 875.00 | 0.19 |
| USD	SAUDI ARABIAN OIL CO-144A 4.25000% 19-16.04.39 | 7 000 000.00 | 7 532 000.00 | 0.28 |
| USD	SKANDINAVISKA ENSKILDA BANKEN AB-REG-S 2.45000% 15-27.05.20 | 4 087 000.00 | 4 091 561.09 | 0.15 |
| USD	SOCIETE GENERALE-REG-S 2.50000% 16-08.04.21 | 1 220 000.00 | 1 224 477.04 | 0.05 |
| USD	STANDARD CHARTERED BANK (HONG KONG)-SUB 5.87500% 10-24.06.20 | 3 500 000.00 | 3 560 784.50 | 0.13 |
| USD	SUMITOMO MITSUI FIN GP INC 2.44200% 16-19.10.21 | 5 000 000.00 | 5 023 000.00 | 0.19 |
| USD	SVENSKA HANDELSBANKEN AB 2.45000% 16-30.03.21 | 2 440 000.00 | 2 457 585.32 | 0.09 |
| USD	US BANCORP-SUB 3.60000% 14-11.09.24 | 5 875 000.00 | 6 253 956.30 | 0.23 |
| USD	WELLS FARGO & CO 3.75000% 19-24.01.24 | 10 000 000.00 | 10 565 837.00 | 0.39 |
| USD	WELLS FARGO & CO 4.60000% 11-01.04.21 | 10 000 000.00 | 10 327 952.00 | 0.39 |
| USD	WELLS FARGO & CO-SUB 4.10000% 14-03.06.26 | 13 500 000.00 | 14 585 798.25 | 0.54 |
| Total USD |  | 189 899 604.67 | 7.08 |
| Total des Medium-Term Notes, taux fixe |  | 189 899 604.67 | 7.08 |
| Medium-Term Notes, taux variable |  |  |  |
| USD |  |  |  |
| USD	JPMORGAN CHASE & CO-SUB 6.750%/3M LIBOR+378BP 14-PRP | 1 250 000.00 | 1 407 812.50 | 0.05 |
| Total USD |  | 1 407 812.50 | 0.05 |
| Total des Medium-Term Notes, taux variable |  | 1 407 812.50 | 0.05 |
| Obligations, taux fixe |  |  |  |
| USD |  |  |  |
| USD	AMGEN INC 1.85000% 16-19.08.21 | 5 000 000.00 | 4 988 734.70 | 0.18 |
| USD	BALL CORP 4.87500% 18-15.03.26 | 1 000 000.00 | 1 093 770.00 | 0.04 |
| USD	BP CAPITAL MARKETS PLC-REG-S 3.16100% 16-17.03.21 | 1 830 000.00 | 1 853 295.17 | 0.07 |
| USD	DEXIA CREDIT LOCAL DE FRANCE-REG-S 1.87500% 16-15.09.21 | 3 660 000.00 | 3 659 045.07 | 0.14 |
| USD	ENERGY TRANSFER LP/REGENCY FIN CORP 5.87500% 14-01.03.22 | 2 000 000.00 | 2 123 714.00 | 0.08 |
| USD	ENERGY TRANSFER OPERATING LP 5.50000% 19-01.06.27 | 15 000 000.00 | 16 577 409.00 | 0.62 |
| USD	ENERGY TRANSFER PARTNERS LP 4.90000% 13-01.02.24 | 4 500 000.00 | 4 797 496.35 | 0.18 |
| USD	ENTERPRISE PRODUCTS OPERATING LLC 2.80000% 18-15.02.21 | 4 000 000.00 | 4 036 646.00 | 0.15 |
| USD	HEATHROW FUNDING LTD-144A 4.87500% 11-15.07.21 | 1 200 000.00 | 1 242 887.28 | 0.05 |
| USD	HEATHROW FUNDING LTD-REG-S 4.87500% 11-15.07.21 | 1 830 000.00 | 1 895 403.10 | 0.07 |

UBS (Lux) Bond SICAV – USD Investment Grade Corporates (USD)
Rapport semestriel au 30 novembre 2019
|  | Dénomination | Nombre/ | Evaluation en USD | en % |
| --- | --- | --- | --- | --- |
|  | Nominal | Bénéfice/(perte) non | de |
|  |  | réalisé(e) sur futures/ | l’actif |
|  |  | Contrats de | net |
|  |  | change à terme/ |  |
|  |  | Swaps (note 1) |  |
|  |  |  |  |  |
| USD | JP MORGAN CHASE & CO-SUB 4.25000% 15-01.10.27 | 10 000 000.00 | 11 038 714.00 | 0.41 |
| USD | NATIONAL RURAL UTILITIES COOP FIN CORP 3.90000% 18-01.11.28 | 10 000 000.00 | 11 009 133.00 | 0.41 |
| USD | NEXTERA ENERGY CAPITAL HOLDINGS INC 2.75000% 19-01.11.29 | 4 000 000.00 | 3 986 144.04 | 0.15 |
| USD | PECO ENERGY CO 2.37500% 12-15.09.22 | 8 305 000.00 | 8 397 699.58 | 0.31 |
| USD | PNC BANK NATIONAL ASSOCIATION-SUB 2.70000% 12-01.11.22 | 4 625 000.00 | 4 703 565.34 | 0.17 |
| USD | REYNOLDS AMERICAN INC 4.45000% 15-12.06.25 | 5 000 000.00 | 5 353 933.00 | 0.20 |
| Total USD |  |  | 86 757 589.63 | 3.23 |
| Total des Obligations, taux fixe |  | 86 757 589.63 | 3.23 |
| Obligations, taux variable |  |  |  |
| USD |  |  |  |
| USD	DEUTSCHE TELEKOM INTL FIN 8.250%/RATING LINKED 00-15.06.30 | 2 250 000.00 | 3 311 464.50 | 0.12 |
| Total USD |  | 3 311 464.50 | 0.12 |
| Total des Obligations, taux variable |  | 3 311 464.50 | 0.12 |
| Total des Titres et instruments du marché monétaire négociés sur une bourse officielle |  | 1 673 660 126.20 | 62.36 |
| Titres et instruments du marché monétaire négociés sur un autre marché réglementé |  |  |  |
| Titres adossés à des actifs, taux fixe |  |  |  |
| USD |  |  |  |
| USD	VERIZON OWNER TRUST-144A 2.38000% 17-20.12.21 | 10 000 000.00 | 10 016 679.00 | 0.37 |
| Total USD |  | 10 016 679.00 | 0.37 |
| Total des Titres adossés à des actifs, taux fixe |  | 10 016 679.00 | 0.37 |
| Titres adossés à des hypothèques, taux fixe |  |  |  |
| USD |  |  |  |
| USD	HILTON USA TRUST 2016-SFP-144A 4.92692% 16-01.11.35 | 4 000 000.00 | 4 003 123.20 | 0.15 |
| USD	MORGAN STANLEY CAP BARC BK TST-144A-SUB 3.30890% 16-01.09.31 | 1 150 000.00 | 1 148 236.82 | 0.04 |
| Total USD |  | 5 151 360.02 | 0.19 |
| Total des Titres adossés à des hypothèques, taux fixe |  | 5 151 360.02 | 0.19 |
| Titres adossés à des hypothèques, taux variable |  |  |  |
| USD |  |  |  |
| USD	BAMLL COMMERCIAL MORT SET-144A 1M LIBOR+115BP 18-15.09.34 | 6 000 000.00 | 5 992 732.80 | 0.22 |
| USD	CAESARS PALACE LAS VEGAS TRUST-144A-SUB VAR 17-01.10.34 | 11 400 000.00 | 11 923 264.56 | 0.44 |
| USD	CAMB COMM MORTGAGE TRUST-144A-SUB 1M LIBOR+145BP 19-15.12.37 | 2 750 000.00 | 2 755 986.75 | 0.10 |
| USD	CG-CCRE CMCL MRTG TRUST-144A-SUB 1M LIBOR+175BP 14-15.06.31 | 2 000 000.00 | 1 999 740.00 | 0.08 |
| USD	CITIGROUP COMMERCIAL MORTGAGE TRUST-144A-SUB FLR 13-01.05.35 | 18 160 000.00 | 18 341 469.25 | 0.68 |
| USD	CSWF TOP-144A-SUB FLR 18-15.08.35 | 9 000 000.00 | 8 997 103.80 | 0.34 |
| USD	GS MORTGAGE SEC CORP-144A-SUB 1M LIBOR+125BP 18-15.07.35 | 14 592 000.00 | 14 602 898.76 | 0.54 |
| USD	JP MORGAN CHASE COMRCL MTG SEC-144A-SUB VAR 15-01.09.32 | 9 780 000.00 | 9 810 367.88 | 0.37 |
| USD	JP MORGAN CHASE MORTGAGE SECURITIES-144A-SUB FLR 18-01.01.31 | 4 000 000.00 | 4 085 219.20 | 0.15 |
| USD	LONE STAR PORTFOLIO TRUST-144A 1M LIBOR+400BP 15-15.09.28 | 2 500 000.00 | 1 378 379.68 | 0.05 |
| USD	MORGAN STANLEY CAPITAL INC-144A-SUB FLR 14-01.07.29 | 750 000.00 | 758 633.55 | 0.03 |
| USD	RBS COMMERCIAL FUNDING INC-144A VAR 13-01.03.31 | 2 300 000.00 | 2 288 282.88 | 0.09 |
| USD	WP GLIMCHER MALL TRUST-144A-SUB VAR 15-01.06.35 | 10 200 000.00 | 9 672 322.38 | 0.36 |
| Total USD |  | 92 606 401.49 | 3.45 |
| Total des Titres adossés à des hypothèques, taux variable |  | 92 606 401.49 | 3.45 |
| Billets, taux fixe |  |  |  |
| USD |  |  |  |
| USD	ABBOTT LABORATORIES 2.90000% 16-30.11.21 | 13 990 000.00 | 14 242 609.03 | 0.53 |
| USD	ABBVIE INC 2.90000% 13-06.11.22 | 5 000 000.00 | 5 092 338.50 | 0.19 |
| USD	ABBVIE INC-144A 2.60000% 19-21.11.24 | 5 000 000.00 | 5 026 444.50 | 0.19 |
| USD	ABBVIE INC-144A 3.20000% 19-21.11.29 | 10 000 000.00 | 10 146 529.00 | 0.38 |
| USD	ADT CORP 3.50000% 13-15.07.22 | 4 000 000.00 | 4 060 000.00 | 0.15 |
| USD	AMAZON.COM INC 2.80000% 18-22.08.24 | 5 000 000.00 | 5 171 248.00 | 0.19 |
| USD	AMAZON.COM INC 3.15000% 18-22.08.27 | 3 500 000.00 | 3 718 998.50 | 0.14 |
| USD	AMERICAN ELECTRIC POWER INC 2.95000% 12-15.12.22 | 10 250 000.00 | 10 445 289.15 | 0.39 |
| USD	AMERICAN ELECTRIC POWER INC 3.20000% 17-13.11.27 | 6 000 000.00 | 6 214 535.40 | 0.23 |
| USD	AMERICAN EXPRESS CO 2.50000% 17-01.08.22 | 12 500 000.00 | 12 634 703.75 | 0.47 |
| USD	AT&T INC 3.55000% 19-01.06.24 | 1 500 000.00 | 1 570 304.40 | 0.06 |
| USD	AXA EQUITABLE HOLDINGS INC 4.35000% 19-20.04.28 | 6 000 000.00 | 6 446 134.20 | 0.24 |
| USD	BACARDI LTD-144A 4.45000% 18-15.05.25 | 11 000 000.00 | 11 741 620.00 | 0.44 |
| USD	BRISTOL-MYERS SQUIBB CO-144A 3.20000% 19-15.06.26 | 8 000 000.00 | 8 408 108.00 | 0.31 |
| USD	BROADCOM CORP/CAYMAN FIN LTD 3.00000% 18-15.01.22 | 10 250 000.00 | 10 366 609.13 | 0.39 |
| USD	BROADCOM CORP/CAYMAN FIN LTD 3.87500% 18-15.01.27 | 6 849 000.00 | 6 991 486.60 | 0.26 |
| USD	BROADCOM CORP/CAYMAN FIN LTD 3.12500% 18-15.01.25 | 3 250 000.00 | 3 257 715.17 | 0.12 |
| USD	BROADCOM CORP/CAYMAN FIN LTD 3.50000% 18-15.01.28 | 2 049 000.00 | 2 029 881.86 | 0.08 |
| USD	BROADCOM INC-144A 3.62500% 19-15.10.24 | 5 000 000.00 | 5 140 571.50 | 0.19 |
| USD	BROADCOM INC-144A 4.25000% 19-15.04.26 | 9 000 000.00 | 9 428 539.50 | 0.35 |
| USD	CCO HOLDINGS LLC/CAPITAL CORP-144A 5.50000% 16-01.05.26 | 5 000 000.00 | 5 275 000.00 | 0.20 |
| USD	CCO LLC/CAPITAL 4.90800% 16-23.07.25 | 12 000 000.00 | 13 160 881.20 | 0.49 |
| USD	CENTENE CORP-144A 4.62500% 19-15.12.29 | 1 100 000.00 | 1 153 625.00 | 0.04 |
| USD	CENTENE CORP-144A 5.37500% 18-01.06.26 | 2 550 000.00 | 2 706 187.50 | 0.10 |
| USD	CHENIERE CORPUS CHRISTI HLDGS LLC 5.12500% 17-30.06.27 | 3 500 000.00 | 3 849 265.00 | 0.14 |
| USD	CHENIERE ENERGY PARTNERS LP 5.25000% 18-01.10.25 | 2 500 000.00 | 2 575 000.00 | 0.10 |
| USD	CHEVRON PHILLIPS CHEMICAL CO LLC-144A 3.30000% 18-01.05.23 | 2 500 000.00 | 2 582 890.25 | 0.10 |
| USD	CHEVRON PHILLIPS CHEMICAL CO LLC-144A 3.70000% 18-01.06.28 | 7 000 000.00 | 7 493 988.60 | 0.28 |
| USD	CIGNA CORP 5.12500% 10-15.06.20 | 2 250 000.00 | 2 285 372.70 | 0.09 |
| USD	CITIGROUP INC-SUB 4.60000% 16-09.03.26 | 5 000 000.00 | 5 503 152.50 | 0.20 |
| USD	DANSKE BANK AS-144A 2.00000% 16-08.09.21 | 3 238 000.00 | 3 216 907.83 | 0.12 |
| USD	DELL INTERNATIONAL LLC / EMC CORP-144A 4.42000% 16-15.06.21 | 2 250 000.00 | 2 316 785.40 | 0.09 |

UBS (Lux) Bond SICAV – USD Investment Grade Corporates (USD) Rapport semestriel au 30 novembre 2019
|  | Dénomination | Nombre/ | Evaluation en USD | en % |
| --- | --- | --- | --- | --- |
|  | Nominal | Bénéfice/(perte) non | de |
|  |  | réalisé(e) sur futures/ | l’actif |
|  |  | Contrats de | net |
|  |  | change à terme/ |  |
|  |  | Swaps (note 1) |  |
|  |  |  |  |  |
| USD | DELL INTERNATIONAL LLC / EMC CORP-144A 5.45000% 16-15.06.23 | 2 500 000.00 | 2 709 299.25 | 0.10 |
| USD | DELL INTERNATIONAL LLC / EMC CORP-144A 6.02000% 16-15.06.26 | 12 000 000.00 | 13 712 503.20 | 0.51 |
| USD | DELL INTERNATIONAL LLC / EMC CORP-144A 7.12500% 16-15.06.24 | 5 500 000.00 | 5 816 250.00 | 0.22 |
| USD | DEUTSCHE TELEKOM INTL FINANCE BV-144A 1.95000% 16-19.09.21 | 8 511 000.00 | 8 478 625.26 | 0.32 |
| USD | DEUTSCHE TELEKOM INTL FINANCE BV-144A 2.82000% 17-19.01.22 | 7 400 000.00 | 7 500 954.50 | 0.28 |
| USD | DIAMONDBACK ENERGY INC 3.25000% 19-01.12.26 | 10 000 000.00 | 9 998 100.00 | 0.37 |
| USD | DTE ENERGY CO 3.85000% 13-01.12.23 | 9 011 000.00 | 9 481 016.46 | 0.35 |
| USD | DUKE ENERGY CORP 3.55000% 11-15.09.21 | 7 000 000.00 | 7 158 152.40 | 0.27 |
| USD | ELANCO ANIMAL HEALTH INC 4.27200% 19-28.08.23 | 8 403 000.00 | 8 797 276.32 | 0.33 |
| USD | ENEL FINANCE INTERNATIONAL NV-144A 3.62500% 17-25.05.27 | 8 500 000.00 | 8 832 837.05 | 0.33 |
| USD | ENEL FINANCE INTERNATIONAL NV-144A 2.87500% 17-25.05.22 | 5 000 000.00 | 5 052 598.00 | 0.19 |
| USD | ERAC USA FINANCE LLC-144A 3.85000% 14-15.11.24 | 7 250 000.00 | 7 712 674.70 | 0.29 |
| USD | ERAC USA FINANCE LLC-144A 2.70000% 16-01.11.23 | 3 545 000.00 | 3 596 128.12 | 0.13 |
| USD | FEDEX CORP 2.62500% 12-01.08.22 | 5 000 000.00 | 5 064 651.50 | 0.19 |
| USD | FIFTH THIRD BANCORP 2.60000% 17-15.06.22 | 10 000 000.00 | 10 111 132.00 | 0.38 |
| USD | FORD MOTOR CREDIT CO LLC 2.68100% 17-09.01.20 | 8 000 000.00 | 8 002 125.60 | 0.30 |
| USD | GENERAL MOTORS CO 4.20000% 17-01.10.27 | 2 500 000.00 | 2 555 379.50 | 0.10 |
| USD | GENERAL MOTORS FINANCIAL CO INC 4.25000% 14-15.05.23 | 6 500 000.00 | 6 814 440.10 | 0.25 |
| USD | GENERAL MOTORS FINANCIAL CO INC 3.20000% 15-13.07.20 | 9 100 000.00 | 9 147 643.96 | 0.34 |
| USD | GLENCORE FUNDING LLC-144A 4.12500% 19-12.03.24 | 6 000 000.00 | 6 296 282.40 | 0.23 |
| USD | HARLEY-DAVIDSON FIN.SERV INC-144A 3.35000% 18-15.02.23 | 11 500 000.00 | 11 761 435.25 | 0.44 |
| USD | HCA INC 5.00000% 14-15.03.24 | 1 750 000.00 | 1 900 714.20 | 0.07 |
| USD | HUMANA INC 3.95000% 17-15.03.27 | 2 000 000.00 | 2 148 419.00 | 0.08 |
| USD | JPMORGAN CHASE & CO 4.35000% 11-15.08.21 | 5 500 000.00 | 5 714 100.15 | 0.21 |
| USD | JPMORGAN CHASE & CO-SUB 3.62500% 16-01.12.27 | 12 500 000.00 | 13 198 561.25 | 0.49 |
| USD | KEYBANK NA/CLEVELAND OH 2.30000% 17-14.09.22 | 4 000 000.00 | 4 029 221.20 | 0.15 |
| USD | KINDER MORGAN INC-144A 5.00000% 13-15.02.21 | 11 900 000.00 | 12 265 030.12 | 0.46 |
| USD | KROGER CO 2.80000% 17-01.08.22 | 4 000 000.00 | 4 072 410.80 | 0.15 |
| USD | LENNAR CORP 2.95000% 18-29.11.20 | 2 500 000.00 | 2 512 500.00 | 0.09 |
| USD | LEVEL 3 FINANCING INC 5.62500% 15-01.02.23 | 1 368 000.00 | 1 373 130.00 | 0.05 |
| USD | LEVEL 3 FINANCING INC-144A 3.40000% 19-01.03.27 | 5 000 000.00 | 5 004 250.00 | 0.19 |
| USD | LLOYDS BANKING GROUP PLC-SUB 4.58200% 16-10.12.25 | 4 000 000.00 | 4 292 116.00 | 0.16 |
| USD | LYONDELLBASELL INDUSTRIES NV 6.00000% 12-15.11.21 | 4 550 000.00 | 4 835 529.79 | 0.18 |
| USD | MARATHON OIL CORP 2.80000% 12-01.11.22 | 4 000 000.00 | 4 060 752.40 | 0.15 |
| USD | MARATHON PETROLEUM CORP 4.75000% 19-15.12.23 | 4 000 000.00 | 4 331 452.00 | 0.16 |
| USD | METROPOLITAN EDISON CO-144A 3.50000% 13-15.03.23 | 1 315 000.00 | 1 361 155.32 | 0.05 |
| USD | MICROSOFT CORP 3.62500% 13-15.12.23 | 5 000 000.00 | 5 329 355.50 | 0.20 |
| USD | MORGAN STANLEY 3.70000% 14-23.10.24 | 10 000 000.00 | 10 591 065.00 | 0.39 |
| USD | MORGAN STANLEY 3.87500% 14-29.04.24 | 13 500 000.00 | 14 344 005.15 | 0.53 |
| USD | NATIONAL AUSTRALIA BANK LTD/NY 2.50000% 18-12.01.21 | 5 500 000.00 | 5 524 585.00 | 0.21 |
| USD | NEW YORK LIFE INSURANCE CO-144A-SUB 4.45000% 19-15.05.69 | 1 045 000.00 | 1 241 641.83 | 0.05 |
| USD | NORDEA BANK ABP-144A-SUB 4.25000% 12-21.09.22 | 2 500 000.00 | 2 617 105.00 | 0.10 |
| USD | NOVA CHEMICALS CORP-144A 5.00000% 14-01.05.25 | 647 000.00 | 650 235.00 | 0.02 |
| USD | NOVA CHEMICALS CORP-144A 4.87500% 17-01.06.24 | 7 000 000.00 | 7 067 567.50 | 0.26 |
| USD | NOVA CHEMICALS CORP-144A 5.25000% 17-01.06.27 | 6 637 000.00 | 6 703 370.00 | 0.25 |
| USD | NXP BV / NXP FUNDING LLC-144A 5.55000% 18-01.12.28 | 12 000 000.00 | 13 872 384.00 | 0.52 |
| USD | OCCIDENTAL PETROLEUM CORP 4.85000% 19-15.03.21 | 995 000.00 | 1 025 698.93 | 0.04 |
| USD | PRINCIPAL FINANCIAL GROUP 3.12500% 12-15.05.23 | 9 491 000.00 | 9 757 534.81 | 0.36 |
| USD | PUBLIC STORAGE 2.37000% 17-15.09.22 | 3 250 000.00 | 3 288 658.42 | 0.12 |
| USD | PUBLIC STORAGE 3.09400% 17-15.09.27 | 5 000 000.00 | 5 244 281.50 | 0.20 |
| USD | ROYAL CARIBBEAN CRUISES LTD 7.50000% 97-15.10.27 | 10 000 000.00 | 12 805 106.00 | 0.48 |
| USD | SABINE PASS LIQUEFACTION LLC STEP-UP/DOWN 14-01.02.21 | 3 000 000.00 | 3 086 476.50 | 0.11 |
| USD | SABINE PASS LIQUEFACTION LLC 5.75000% 14-15.05.24 | 5 000 000.00 | 5 567 654.50 | 0.21 |
| USD | SHERWIN-WILLIAMS CO 3.12500% 17-01.06.24 | 8 415 000.00 | 8 700 861.76 | 0.32 |
| USD | SIEMENS FINANCIERINGSMAATSCH NV-144A 1.70000% 16-15.09.21 | 4 055 000.00 | 4 041 953.04 | 0.15 |
| USD | SIERRA PACIFIC POWER CO 3.37500% 13-15.08.23 | 2 182 000.00 | 2 271 137.54 | 0.08 |
| USD | SKANDINAVISKA ENSKILDA BANKEN AB 2.62500% 16-15.03.21 | 1 830 000.00 | 1 842 579.41 | 0.07 |
| USD | SUNCORP-METWAY LTD-144A 2.80000% 17-04.05.22 | 8 000 000.00 | 8 080 000.00 | 0.30 |
| USD | SUNTRUST BANK/ATLANTA GA 2.45000% 17-01.08.22 | 5 000 000.00 | 5 039 437.00 | 0.19 |
| USD | VERIZON COMMUNICATIONS INC 4.01600% 19-03.12.29 | 15 000 000.00 | 16 726 764.00 | 0.62 |
| USD | VOLKSWAGEN GRP OF AMERICA FINANCE-144A 4.62500% 18-13.11.25 | 10 000 000.00 | 11 049 814.00 | 0.41 |
| USD | WILLIAMS COS INC/THE 3.75000% 17-15.06.27 | 1 250 000.00 | 1 279 764.00 | 0.05 |
| Total USD |  |  | 591 700 605.36 | 22.05 |
| Total des Billets, taux fixe |  | 591 700 605.36 | 22.05 |
| Billets, taux variable |  |  |  |
| USD |  |  |  |
| USD	BANK OF AMERICA CORP 3.419%/VAR 18-20.12.28 | 5 875 000.00 | 6 159 585.58 | 0.23 |
| USD	BK OF AMERICA CORP 3.004%/VAR 18-20.12.23 | 20 954 000.00 | 21 400 600.98 | 0.80 |
| USD	GOLDMAN SACHS GROUP INC 3.814%/VAR 18-23.04.29 | 5 000 000.00 | 5 349 921.00 | 0.20 |
| USD	HSBC HOLDINGS PLC 3.262%/VAR 17-13.03.23 | 4 500 000.00 | 4 591 395.45 | 0.17 |
| USD	JPMORGAN CHASE BANK NA 2.604%/3M LIBOR+28BP 18-01.02.21 | 15 000 000.00 | 15 012 609.00 | 0.56 |
| Total USD |  | 52 514 112.01 | 1.96 |
| Total des Billets, taux variable |  | 52 514 112.01 | 1.96 |
| Medium-Term Notes, taux fixe |  |  |  |
| USD |  |  |  |
| USD	BANK OF AMERICA CORP-SUB 4.25000% 14-22.10.26 | 14 500 000.00 | 15 852 020.60 | 0.59 |
| USD	HYUNDAI CAPITAL AMERICA-144A 3.25000% 17-20.09.22 | 10 000 000.00 | 10 171 208.00 | 0.38 |
| USD	INTESA SANPAOLO SPA-144A 6.50000% 11-24.02.21 | 7 500 000.00 | 7 840 115.25 | 0.29 |
| USD	KEYCORP 5.10000% 11-24.03.21 | 2 250 000.00 | 2 338 166.47 | 0.09 |
| USD	MACQUARIE GROUP LTD-144A 6.25000% 11-14.01.21 | 1 685 000.00 | 1 759 083.72 | 0.07 |
| USD	NORDEA BANK ABP-144A 2.50000% 15-17.09.20 | 5 000 000.00 | 5 023 088.50 | 0.19 |
| USD	SOCIETE GENERALE-144A 5.20000% 11-15.04.21 | 5 000 000.00 | 5 209 822.00 | 0.19 |
| USD	WELLS FARGO & CO 3.00000% 15-19.02.25 | 4 000 000.00 | 4 106 294.80 | 0.15 |
| USD	WELLS FARGO & CO-SUB 4.30000% 15-22.07.27 | 15 000 000.00 | 16 452 319.50 | 0.61 |
| Total USD |  | 68 752 118.84 | 2.56 |
| Total des Medium-Term Notes, taux fixe |  | 68 752 118.84 | 2.56 |

UBS (Lux) Bond SICAV – USD Investment Grade Corporates (USD)
Rapport semestriel au 30 novembre 2019
| Dénomination | Nombre/ | Evaluation en USD | en % |
| --- | --- | --- | --- |
|  | Nominal | Bénéfice/(perte) non | de |
|  |  | réalisé(e) sur futures/ | l’actif |
|  |  | Contrats de | net |
|  |  | change à terme/ |  |
|  |  | Swaps (note 1) |  |

Medium-Term Notes, taux variable
| USD |  |
| --- | --- |
| USD | BANK OF AMERICA CORP 2.369%/VAR 17-21.07.21 | 3 750 000.00 | 3 757 880.62 | 0.14 |
| USD | WELLS FARGO & CO 2.406%/VAR 19-30.10.25 | 3 000 000.00 | 2 992 532.10 | 0.11 |
| Total USD |  |  | 6 750 412.72 | 0.25 |
| Total des Medium-Term Notes, taux variable |  | 6 750 412.72 | 0.25 |
| Obligations, taux fixe |  |  |  |
| USD |  |  |  |
| USD	AERCAP IRE CAP LTD/GLB AVIA TRUST 4.62500% 15-01.07.22 | 10 000 000.00 | 10 565 584.00 | 0.39 |
| USD	AMERICA MOVIL SAB DE CV 3.12500% 12-16.07.22 | 5 950 000.00 | 6 091 312.50 | 0.23 |
| USD	BNP PARIBAS 5.00000% 11-15.01.21 | 9 177 000.00 | 9 482 387.61 | 0.35 |
| USD	ENERGY TRANSFER OPERATING LP 4.25000% 19-15.03.23 | 3 000 000.00 | 3 118 597.50 | 0.12 |
| USD	FIVE CORNERS FUNDING TRUST-144A 4.41900% 13-15.11.23 | 10 000 000.00 | 10 817 314.00 | 0.40 |
| USD	GENERAL MOTORS FINANCIAL CO INC 3.45000% 17-14.01.22 | 4 009 000.00 | 4 087 064.05 | 0.15 |
| USD	NGPL PIPECO LLC-144A 4.87500% 17-15.08.27 | 9 500 000.00 | 10 067 706.70 | 0.38 |
| USD	SWEDBANK AB-144A 2.80000% 17-14.03.22 | 5 000 000.00 | 5 050 644.00 | 0.19 |
| Total USD |  | 59 280 610.36 | 2.21 |
| Total des Obligations, taux fixe |  | 59 280 610.36 | 2.21 |
| Obligations, taux variable |  |  |  |
| USD |  |  |  |
| USD	GOLDMAN SACHS GROUP INC 4.223%/VAR 18-01.05.29 | 10 000 000.00 | 11 014 284.00 | 0.41 |
| Total USD |  | 11 014 284.00 | 0.41 |
| Total des Obligations, taux variable |  | 11 014 284.00 | 0.41 |
| Total des Titres et instruments du marché monétaire négociés sur un autre marché réglementé |  | 897 786 583.80 | 33.45 |

Titres et instruments du marché monétaire non négociés sur une bourse officielle ou un autre marché réglementé
Billets, taux fixe
| USD |  |
| --- | --- |
| USD | ASHTEAD CAPITAL INC-144A 4.25000% 19-01.11.29 | 5 250 000.00 | 5 310 703.13 | 0.20 |
| USD | BRANCH BANKING & TRUST CO 2.62500% 17-15.01.22 | 5 000 000.00 | 5 060 600.50 | 0.19 |
| USD | CCO LLC/CAPITAL 4.20000% 17-15.03.28 | 6 000 000.00 | 6 360 206.40 | 0.24 |
| USD | GLP CAPITAL LP / GLP FINANC II INC 4.00000% 19-15.01.30 | 8 000 000.00 | 8 072 760.00 | 0.30 |
| USD | MPLX LP-144A 3.50000% 19-01.12.22 | 3 000 000.00 | 3 071 447.10 | 0.11 |
| USD | NOBLE ENERGY INC 3.85000% 17-15.01.28 | 2 000 000.00 | 2 078 149.80 | 0.08 |
| USD | NRG ENERGY INC-144A 3.75000% 19-15.06.24 | 1 975 000.00 | 2 036 032.83 | 0.07 |
| USD | NXP BV / NXP FUNDING LLC-144A 4.87500% 18-01.03.24	10 000 000.00 | 10 848 248.00 | 0.40 |
| USD | T-MOBILE USA INC *ESCROW* 4.00000% 17-15.04.22 | 4 500 000.00 | 0.45 | 0.00 |
| USD | WALT DISNEY CO 3.70000% 19-15.09.24 | 2 250 000.00 | 2 398 464.45 | 0.09 |
| Total USD |  |  | 45 236 612.66 | 1.68 |
| Total des Billets, taux fixe |  | 45 236 612.66 | 1.68 |
| Total des Titres et instruments du marché monétaire non négociés sur une bourse officielle ou un autre marché réglementé | 45 236 612.66 | 1.68 |
| Nouvelles émissions de titres et instruments du marché monétaire |  |  |  |
| Billets, taux fixe |  |  |  |
| USD |  |  |  |
| USD	BRISTOL MYERS SQUIBB CO-144A 2.75000% 19-15.02.23 | 2 000 000.00 | 2 039 139.60 | 0.08 |
| USD	BRISTOL MYERS SQUIBB CO-144A 4.00000% 19-15.08.22 | 8 000 000.00 | 8 473 414.40 | 0.31 |
| USD	BRISTOL MYERS SQUIBB CO-144A 3.62500% 19-15.05.24 | 5 000 000.00 | 5 294 104.00 | 0.20 |
| USD	CCO HOLDINGS LLC/CAPITAL CORP-144A 4.75000% 19-01.03.30 | 2 000 000.00 | 2 055 000.00 | 0.08 |
| Total USD |  | 17 861 658.00 | 0.67 |
| Total des Billets, taux fixe |  | 17 861 658.00 | 0.67 |
| Total des Nouvelles émissions de titres et instruments du marché monétaire |  | 17 861 658.00 | 0.67 |
| Total du Portefeuille-titres |  | 2 634 544 980.66 | 98.16 |

| Instruments dérivés |  |
| --- | --- |
| Instruments dérivés négociés sur une bourse officielle Contrats financiers à terme sur obligations |
|  |  |  |  |
| USD	US 5YR TREASURY NOTE FUTURE 31.03.20 | 1 400.00 | -43 750.00 | 0.00 |
| USD	US ULTRA LONG BOND (CBT) FUTURE 20.03.20 | -171.00 | -459 562.50 | -0.02 |
| USD	US 10YR TREASURY NOTE FUTURE 20.03.20 | 576.00 | -13 500.29 | 0.00 |
| Total des Contrats financiers à terme sur obligations |  | -516 812.79 | -0.02 |
| Total des Instruments dérivés négociés sur une bourse officielle |  | -516 812.79 | -0.02 |
| Total des Instruments dérivés |  | -516 812.79 | -0.02 |

UBS (Lux) Bond SICAV – USD Investment Grade Corporates (USD) Rapport semestriel au 30 novembre 2019
| Dénomination	Nombre/ | Evaluation en USD | en % |
| --- | --- | --- |
| Nominal | Bénéfice/(perte) non | de |
|  | réalisé(e) sur futures/ | l’actif |
|  | Contrats de | net |
|  | change à terme/ |  |
|  | Swaps (note 1) |  |

Contrats de change à terme
Contrats de change à terme (achat/vente)
| CHF | 256 652 800.00 | USD | 258 352 761.17 | 16.1.2020 | -503 875.33 | -0.02 |
| --- | --- | --- | --- | --- | --- | --- |
| Total des Contrats de change à terme (achat/vente) | -503 875.33 | -0.02 |
|  |  |  |
| Avoirs en banque, dépôts à vue et à terme et autres liquidités | 39 246 343.45 | 1.46 |
| Crédit en compte courant et autres engagements à court terme | -9.99 | 0.00 |
| Autres actifs et passifs | 11 243 550.98 | 0.42 |
| Total de l’Actif net | 2 684 014 176.98 | 100.00 |

UBS (Lux) Bond SICAV – USD Investment Grade Corporates (USD)
Rapport semestriel au 30 novembre 2019