# UBS (Lux) Bond SICAV – USD Corporates (USD)
| Most important figures |  |
| --- | --- |
|  | ISIN | 30.11.2020 | 31.5.2020 | 31.5.2019 |
| Net assets in USD |  | 492 705 748.70 | 424 732 587.49 | 576 063 449.24 |
| Class F-acc | LU0396366626 |  |  |  |
| Shares outstanding |  | 1 180 975.8470 | 1 751 380.8470 | 2 373 735.8470 |
| Net asset value per share in USD |  | 23.38 | 21.78 | 19.77 |
| Issue and redemption price per share in USD 1 |  | 23.62 | 21.78 | 19.73 |
| Class I-A1-acc | LU0396367277 |  |  |  |
| Shares outstanding |  | 183 091.9130 | 190 416.2140 | 155 460.6170 |
| Net asset value per share in USD |  | 168.95 | 157.53 | 143.18 |
| Issue and redemption price per share in USD 1 |  | 170.67 | 157.53 | 142.89 |
| Class I-A3-acc | LU0396367608 |  |  |  |
| Shares outstanding |  | 6 545.4140 | 5 135.4140 | 617 118.1300 |
| Net asset value per share in USD |  | 138.20 | 128.77 | 116.90 |
| Issue and redemption price per share in USD 1 |  | 139.61 | 128.77 | 116.67 |
| Class I-B-acc 2 | LU0396367863 |  |  |  |
| Shares outstanding |  | - | - | 7 719.7620 |
| Net asset value per share in USD |  | - | - | 169.82 |
| Issue and redemption price per share in USD 1 |  | - | - | 169.48 |
| Class (EUR hedged) I-B-dist 3 | LU0876650895 |  |  |  |
| Shares outstanding |  | - | - | 440 000.0000 |
| Net asset value per share in EUR |  | - | - | 93.03 |
| Issue and redemption price per share in EUR 1 |  | - | - | 92.84 |
| Class I-X-acc | LU0396368085 |  |  |  |
| Shares outstanding |  | 65 457.0660 | 72 351.6110 | 72 375.5380 |
| Net asset value per share in USD |  | 177.41 | 165.01 | 149.23 |
| Issue and redemption price per share in USD 1 |  | 179.22 | 165.01 | 148.93 |
| Class P-acc | LU0172069584 |  |  |  |
| Shares outstanding |  | 5 147 138.5990 | 5 214 639.9190 | 5 187 714.6880 |
| Net asset value per share in USD |  | 22.00 | 20.58 | 18.83 |
| Issue and redemption price per share in USD 1 |  | 22.22 | 20.58 | 18.79 |
| Class (CHF hedged) P-acc | LU0776291220 |  |  |  |
| Shares outstanding |  | 41 212.1130 | 37 732.6290 | 40 668.2070 |
| Net asset value per share in CHF |  | 123.81 | 116.58 | 110.32 |
| Issue and redemption price per share in CHF 1 |  | 125.07 | 116.58 | 110.10 |
| Class P-mdist 4 | LU0849272793 |  |  |  |
| Shares outstanding |  | 100.0000 | - | - |
| Net asset value per share in USD |  | 101.98 | - | - |
| Issue and redemption price per share in USD 1 |  | 103.02 | - | - |
| Class Q-acc | LU0396366972 |  |  |  |
| Shares outstanding |  | 805 668.2070 | 530 980.7760 | 270 590.5040 |
| Net asset value per share in USD |  | 196.22 | 183.09 | 166.64 |
| Issue and redemption price per share in USD 1 |  | 198.22 | 183.09 | 166.31 |
| Class (CHF hedged) Q-acc | LU1240777026 |  |  |  |
| Shares outstanding |  | 114 729.8430 | 166 858.3640 | 123 168.2090 |
| Net asset value per share in CHF |  | 119.93 | 112.61 | 106.00 |
| Issue and redemption price per share in CHF 1 |  | 121.15 | 112.61 | 105.79 |
| Class (EUR hedged) Q-acc | LU0848113352 |  |  |  |
| Shares outstanding |  | 128 478.6920 | 76 724.5840 | 963 947.2130 |
| Net asset value per share in EUR |  | 126.27 | 118.41 | 111.13 |
| Issue and redemption price per share in EUR 1 |  | 127.56 | 118.41 | 110.91 |
| Class U-X-acc | LU0396368242 |  |  |  |
| Shares outstanding |  | 8 308.0000 | 8 536.0000 | 8 740.0000 |
| Net asset value per share in USD |  | 13 250.60 | 12 323.89 | 11 145.31 |
| Issue and redemption price per share in USD 1 |  | 13 385.76 | 12 323.89 | 11 123.02 |
| 1  See note 1 2  The share class I-B-acc was in circulation until 7.8.2019 3  The share class (EUR hedged) I-B-dist was in circulation until 31.5.2019 4  First NAV: 15.9.2020 |  |  |  |  |

UBS (Lux) Bond SICAV – USD Corporates (USD) Semi-Annual Report as of 30 November 2020

## Structure of the Securities Portfolio
Geographical Breakdown as a % of net assets	
United States	78.10
The Netherlands	3.93
United Kingdom	3.72
France	2.02
Canada	1.97
Ireland	1.91
Australia	1.33
Norway	1.21
Italy	1.03
Finland	0.66
Guernsey	0.65
China	0.63
Luxembourg	0.57
Saudi Arabia	0.49
Cayman Islands	0.43
Japan	0.43
Switzerland	0.31
Spain	0.27
Brazil	0.22
Total	99.88
Economic Breakdown as a % of net assets	
Banks & credit institutions	20.99
Finance & holding companies	16.68
Energy & water supply	8.79
Petroleum	6.16
Telecommunications	4.97
Pharmaceuticals, cosmetics & medical products	4.24
Traffic & transportation	3.61
Internet, software & IT services	3.24
Insurance	2.90
Electronics & semiconductors	2.47
Computer hardware & network equipment providers	2.38
Healthcare & social services	2.38
Graphic design, publishing & media	2.30
Aerospace industry	2.24
Electrical devices & components	2.10
Mining, coal & steel	1.67
Retail trade, department stores	1.53
Tobacco & alcohol	1.23
Mortgage & funding institutions	1.10
Miscellaneous services	1.01
Food & soft drinks	0.93
Building industry & materials	0.82
Non-ferrous metals	0.81
Real Estate	0.78
Miscellaneous consumer goods	0.70
Miscellaneous trading companies	0.69
Chemicals	0.67
Biotechnology	0.63
Investment funds	0.57
Lodging, catering & leisure	0.53
Miscellaneous unclassified companies	0.31
Vehicles	0.24
Mechanical engineering & industrial equipment	0.21
Total	99.88
UBS (Lux) Bond SICAV – USD Corporates (USD) Semi-Annual Report as of 30 November 2020

## Statement of Net Assets
Assets	30.11.2020
USD
Investments in securities, cost	445 334 925.92
| Investments in securities, unrealized appreciation (depreciation) | 	46 799 132.19	 |
| --- | --- |
| Total investments in securities (Note 1) | 492 134 058.11 |
| Cash at banks, deposits on demand and deposit accounts | 439 129.70 |
| Other liquid assets (Margins) | 713 856.25 |
| Receivable on subscriptions | 2 162 847.43 |
| Interest receivable on securities | 4 515 010.44 |
| Unrealized gain on forward foreign exchange contracts (Note 1) | 259 998.85 |
| Total Assets | 500 224 900.78 |
|  |  |
| Liabilities |  |
| Unrealized loss on financial futures (Note 1) | -102 640.63 |
| Bank overdraft | -4 267 523.30 |
| Interest payable on bank overdraft | -3 746.90 |
| Payable on securities purchases (Note 1) | -2 498 625.00 |
| Payable on redemptions | -489 003.96 |
| Provisions for flat fee (Note 2) | -113 877.57 |
| Provisions for taxe d’abonnement (Note 3) | -28 659.69 |
| Provisions for other commissions and fees (Note 2) | 	-15 075.03	 |
| Total provisions | -157 612.29 |
| Total Liabilities | -7 519 152.08 |
|  |  |
| Net assets at the end of the period | 492 705 748.70 |
| Statement of Operations | USD |
| Income | 1.6.2020-30.11.2020 |
| Interest on liquid assets | 2 229.44 |
| Interest on securities | 8 361 374.66 |
| Income on securities lending (Note 12) | 16 798.32 |
| Other income (Note 4) | 730 314.82 |
| Total income | 9 110 717.24 |
|  |  |
| Expenses |  |
| Flat fee (Note 2) | -1 361 060.46 |
| Taxe d’abonnement (Note 3) | -87 296.45 |
| Cost on securities lending (Note 12) | -6 719.33 |
| Other commissions and fees (Note 2) | -21 349.91 |
| Interest on cash and bank overdraft | -33 622.21 |
| Total expenses | -1 510 048.36 |
|  |  |
| Net income (loss) on investments | 7 600 668.88 |
|  |  |
| Realized gain (loss) (Note 1) |  |
| Realized gain (loss) on market-priced securities without options | 3 849 858.47 |
| Realized gain (loss) on financial futures | 223 127.00 |
| Realized gain (loss) on forward foreign exchange contracts | 2 924 303.43 |
| Realized gain (loss) on foreign exchange | -210 168.93 |
| Total realized gain (loss) | 6 787 119.97 |
|  |  |
| Net realized gain (loss) of the period | 14 387 788.85 |
|  |  |
| Changes in unrealized appreciation (depreciation) (Note 1) |  |
| Unrealized appreciation (depreciation) on market-priced securities without options | 20 554 408.97 |
| Unrealized appreciation (depreciation) on financial futures | -102 640.63 |
| Unrealized appreciation (depreciation) on forward foreign exchange contracts | -314 655.64 |
| Total changes in unrealized appreciation (depreciation) | 20 137 112.70 |
|  |  |
| Net increase (decrease) in net assets as a result of operations | 34 524 901.55 |

UBS (Lux) Bond SICAV – USD Corporates (USD) Semi-Annual Report as of 30 November 2020
| Changes in Net Assets |  |
| --- | --- |
|  |  | USD |
|  |  | 1.6.2020-30.11.2020 |
| Net assets at the beginning of the period |  | 424 732 587.49 |
| Subscriptions |  | 110 555 125.37 |
| Redemptions |  | 	-77 106 831.71	 |
| Total net subscriptions (redemptions) |  | 33 448 293.66 |
| Dividend paid |  | -34.00 |
| Net income (loss) on investments |  | 7 600 668.88 |
| Total realized gain (loss) |  | 6 787 119.97 |
| Total changes in unrealized appreciation (depreciation) |  | 	20 137 112.70	 |
| Net increase (decrease) in net assets as a result of operations |  | 34 524 901.55 |
| Net assets at the end of the period |  | 492 705 748.70 |
| Changes in the Number of Shares outstanding |  |  |
|  |  | 1.6.2020-30.11.2020 |
| Class |  | F-acc |
| Number of shares outstanding at the beginning of the period |  | 1 751 380.8470 |
| Number of shares issued |  | 29 128.0000 |
| Number of shares redeemed |  | -599 533.0000 |
| Number of shares outstanding at the end of the period |  | 1 180 975.8470 |
| Class |  | I-A1-acc |
| Number of shares outstanding at the beginning of the period |  | 190 416.2140 |
| Number of shares issued |  | 37 626.7820 |
| Number of shares redeemed |  | -44 951.0830 |
| Number of shares outstanding at the end of the period |  | 183 091.9130 |
| Class |  | I-A3-acc |
| Number of shares outstanding at the beginning of the period |  | 5 135.4140 |
| Number of shares issued |  | 1 514.0000 |
| Number of shares redeemed |  | -104.0000 |
| Number of shares outstanding at the end of the period |  | 6 545.4140 |
| Class |  | I-X-acc |
| Number of shares outstanding at the beginning of the period |  | 72 351.6110 |
| Number of shares issued |  | 8 876.5510 |
| Number of shares redeemed |  | -15 771.0960 |
| Number of shares outstanding at the end of the period |  | 65 457.0660 |
| Class |  | P-acc |
| Number of shares outstanding at the beginning of the period |  | 5 214 639.9190 |
| Number of shares issued |  | 536 650.3880 |
| Number of shares redeemed |  | -604 151.7080 |
| Number of shares outstanding at the end of the period |  | 5 147 138.5990 |
| Class |  | (CHF hedged) P-acc |
| Number of shares outstanding at the beginning of the period |  | 37 732.6290 |
| Number of shares issued |  | 7 199.3470 |
| Number of shares redeemed |  | -3 719.8630 |
| Number of shares outstanding at the end of the period |  | 41 212.1130 |
| Class |  | P-mdist |
| Number of shares outstanding at the beginning of the period |  | 0.0000 |
| Number of shares issued |  | 100.0000 |
| Number of shares redeemed |  | 0.0000 |
| Number of shares outstanding at the end of the period |  | 100.0000 |
| Class |  | Q-acc |
| Number of shares outstanding at the beginning of the period |  | 530 980.7760 |
| Number of shares issued |  | 352 937.4160 |
| Number of shares redeemed |  | -78 249.9850 |
| Number of shares outstanding at the end of the period |  | 805 668.2070 |
| Class |  | (CHF hedged) Q-acc |
| Number of shares outstanding at the beginning of the period |  | 166 858.3640 |
| Number of shares issued |  | 10 738.9920 |
| Number of shares redeemed |  | -62 867.5130 |
| Number of shares outstanding at the end of the period |  | 114 729.8430 |
| Class |  | (EUR hedged) Q-acc |
| Number of shares outstanding at the beginning of the period |  | 76 724.5840 |
| Number of shares issued |  | 120 381.2580 |
| Number of shares redeemed |  | -68 627.1500 |
| Number of shares outstanding at the end of the period |  | 128 478.6920 |
| Class |  | U-X-acc |
| Number of shares outstanding at the beginning of the period |  | 8 536.0000 |
| Number of shares issued |  | 317.0000 |
| Number of shares redeemed |  | -545.0000 |
| Number of shares outstanding at the end of the period |  | 8 308.0000 |
| Monthly Distribution 1 |  |  |
| UBS (Lux) Bond SICAV – USD Corporates (USD)	Ex-Date | Pay-Date | Currency	Amount per share |
| P-mdist	15.10.2020 | 20.10.2020 | USD	0.17 |
| P-mdist	16.11.2020 | 19.11.2020 | USD	0.17 |
| 1  See note 5 |  |  |

UBS (Lux) Bond SICAV – USD Corporates (USD) Semi-Annual Report as of 30 November 2020

## Statement of Investments in Securities and other Net Assets as of 30 November 2020
| 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 4.50000% 15-14.05.35 | 4 000 000.00 | 5 086 413.60 | 1.03 |
| USD	AERCAP IRELAND CAP/ GLBL AVIATION TRUST 6.50000% 20-15.07.25 | 2 000 000.00 | 2 312 111.00 | 0.47 |
| USD	AIR PRODUCTS & CHEMICALS INC 2.70000% 20-15.05.40 | 2 120 000.00 | 2 297 120.70 | 0.47 |
| USD	ALIBABA GROUP HOLDING LTD 4.00000% 17-06.12.37 | 2 610 000.00 | 3 077 353.13 | 0.62 |
| USD	ALLSTATE CORP 3.85000% 19-10.08.49 | 1 000 000.00 | 1 269 010.10 | 0.26 |
| USD	ALPHABET INC 1.90000% 20-15.08.40 | 1 000 000.00 | 987 866.40 | 0.20 |
| USD	AMAZON.COM INC 2.50000% 20-03.06.50 | 1 850 000.00 | 1 956 071.60 | 0.40 |
| USD	AMERICAN EXPRESS CO-SUB 3.62500% 14-05.12.24 | 1 500 000.00 | 1 663 669.95 | 0.34 |
| USD	AMERICAN INTERNATIONAL GROUP INC 4.37500% 20-30.06.50 | 1 000 000.00 | 1 299 928.30 | 0.26 |
| USD	AMERICAN INTL GROUP INC 3.40000% 20-30.06.30 | 1 500 000.00 | 1 707 731.70 | 0.35 |
| USD	AMGEN INC 3.15000% 20-21.02.40 | 1 000 000.00 | 1 083 217.70 | 0.22 |
| USD	ANHEUSER-BUSCH COS 4.70000% 19-01.02.36 | 4 750 000.00 | 6 059 145.12 | 1.23 |
| USD	AON CORP 4.60000% 14-14.06.44 | 2 000 000.00 | 2 689 495.19 | 0.55 |
| USD	APPLE INC 1.65000% 20-11.05.30 | 2 000 000.00 | 2 068 602.80 | 0.42 |
| USD	APPLE INC 3.45000% 15-09.02.45 | 2 000 000.00 | 2 453 664.40 | 0.50 |
| USD	AT&T INC 2.75000% 20-01.06.31 | 3 000 000.00 | 3 189 745.20 | 0.65 |
| USD	AT&T INC 3.50000% 20-01.06.41 | 750 000.00 | 814 448.78 | 0.17 |
| USD	AT&T INC 4.30000% 18-15.02.30 | 2 000 000.00 | 2 395 875.80 | 0.49 |
| USD	AT&T INC 4.35000% 13-15.06.45 | 1 500 000.00 | 1 768 389.00 | 0.36 |
| USD	AT&T INC 4.85000% 19-01.03.39 | 1 000 000.00 | 1 252 464.00 | 0.25 |
| USD	AT&T INC 5.15000% 18-15.11.46 | 1 000 000.00 | 1 294 673.00 | 0.26 |
| USD	BAE SYSTEMS PLC-144A 1.90000% 20-15.02.31 | 2 000 000.00 | 2 019 587.40 | 0.41 |
| USD	BARCLAYS PLC 3.68400% 17-10.01.23 | 2 750 000.00 | 2 837 999.73 | 0.58 |
| USD	BARCLAYS PLC-SUB 4.37500% 14-11.09.24 | 2 250 000.00 | 2 482 817.18 | 0.50 |
| USD	BAT CAPITAL CORP 3.22200% 18-15.08.24 | 1 500 000.00 | 1 621 171.80 | 0.33 |
| USD	BERKSHIRE HATHAWAY 4.25000% 19-15.01.49 | 1 500 000.00 | 2 032 209.00 | 0.41 |
| USD	BERKSHIRE HATHAWAY ENERGY CO 4.45000% 19-15.01.49 | 1 000 000.00 | 1 350 859.00 | 0.27 |
| USD	BOEING CO 4.87500% 20-01.05.25 | 3 045 000.00 | 3 396 699.93 | 0.69 |
| USD	BOEING CO 5.04000% 20-01.05.27 | 1 424 000.00 | 1 630 764.80 | 0.33 |
| USD	BP CAPITAL MARKETS AMERICA INC 3.41000% 19-11.02.26 | 2 000 000.00 | 2 236 679.20 | 0.45 |
| USD	BP CAPITAL MARKETS AMERICA INC 3.00000% 20-24.02.50 | 1 000 000.00 | 1 040 268.70 | 0.21 |
| USD	BRISTOL MYERS SQUIBB CO 4.12500% 20-15.06.39 | 3 000 000.00 | 3 867 789.90 | 0.78 |
| USD	BROADCOM CORP/CAYMAN FIN LTD 3.87500% 18-15.01.27 | 2 000 000.00 | 2 245 734.00 | 0.46 |
| USD	CCO LLC/CAPITAL 4.20000% 17-15.03.28 | 1 000 000.00 | 1 149 855.00 | 0.23 |
| USD	CCO LLC/CAPITAL 6.38400% 16-23.10.35 | 2 500 000.00 | 3 486 079.25 | 0.71 |
| USD	CENTERPOINT ENERGY INC 4.25000% 18-01.11.28 | 500 000.00 | 594 373.75 | 0.12 |
| USD	CHEVRON CORP 2.97800% 20-11.05.40 | 1 000 000.00 | 1 109 765.10 | 0.23 |
| USD	CIGNA CORP 2.40000% 20-15.03.30 | 2 000 000.00 | 2 128 448.40 | 0.43 |
| USD	CITIGROUP INC 3.70000% 16-12.01.26 | 6 250 000.00 | 7 074 940.00 | 1.44 |
| USD	CITIGROUP INC-SUB 6.67500% 13-13.09.43 | 2 000 000.00 | 3 245 914.40 | 0.66 |
| USD	COCA-COLA CO/THE 2.50000% 20-01.06.40 | 2 000 000.00 | 2 159 732.60 | 0.44 |
| USD	COMCAST CORP 4.60000% 18-15.10.38 | 6 750 000.00 | 8 933 201.78 | 1.81 |
| USD	CONCHO RESOURCES INC 2.40000% 20-15.02.31 | 1 000 000.00 | 1 045 766.80 | 0.21 |
| USD	CREDIT AGRICOLE SA-144A-SUB 4.37500% 15-17.03.25 | 2 000 000.00 | 2 235 796.20 | 0.45 |
| USD	CREDIT SUISSE GROUP AG-144A 3.57400% 17-09.01.23 | 1 500 000.00 | 1 548 137.40 | 0.31 |
| USD	CREDIT SUISSE GRP FDNG GUERNSEY 4.55000% 16-17.04.26 | 2 750 000.00 | 3 222 349.62 | 0.65 |
| USD	CVS HEALTH CORP 5.05000% 18-25.03.48 | 2 000 000.00 | 2 697 882.80 | 0.55 |
| USD	DTE ENERGY CO 2.95000% 19-01.03.30 | 3 750 000.00 | 4 100 179.87 | 0.83 |
| USD	EMERSON ELECTRIC CO 1.95000% 20-15.10.30 | 1 500 000.00 | 1 572 548.70 | 0.32 |
| USD	EQUINIX INC 1.80000% 20-15.07.27 | 1 000 000.00 | 1 025 928.60 | 0.21 |
| USD	EQUINOR ASA 2.87500% 20-06.04.25 | 3 000 000.00 | 3 260 516.10 | 0.66 |
| USD	ESTEE LAUDER COS INC 4.37500% 15-15.06.45 | 2 000 000.00 | 2 634 683.60 | 0.53 |
| USD	EXELON CORP 4.95000% 16-15.06.35 | 1 750 000.00 | 2 225 909.87 | 0.45 |
| USD	FEDEX CORP 4.55000% 16-01.04.46 | 3 000 000.00 | 3 859 819.50 | 0.78 |
| USD	FISERV INC 3.50000% 19-01.07.29 | 2 000 000.00 | 2 291 453.40 | 0.47 |
| USD	FORD MOTOR CREDIT CO 3.37500% 20-13.11.25 | 1 500 000.00 | 1 511 550.00 | 0.31 |
| USD	GE CAPITAL INTL FUNDING CO 3.37300% 16-15.11.25 | 4 000 000.00 | 4 388 346.00 | 0.89 |
| USD	GENERAL MOTORS CO 5.00000% 14-01.04.35 | 1 000 000.00 | 1 198 618.10 | 0.24 |
| USD	GENERAL MOTORS FINANCIAL CO INC 4.00000% 16-06.10.26 | 2 250 000.00 | 2 514 128.40 | 0.51 |
| USD	GENERAL MOTORS FINANCIAL CO 3.85000% 18-05.01.28 | 1 000 000.00 | 1 114 305.60 | 0.23 |
| USD	GEORGIA POWER CO 3.70000% 20-30.01.50 | 2 000 000.00 | 2 418 766.80 | 0.49 |
| USD	GILEAD SCIENCES INC 2.60000% 20-01.10.40 | 2 000 000.00 | 2 030 861.20 | 0.41 |
| USD	GOLDMAN SACHS GROUP INC-SUB 6.75000% 07-01.10.37 | 1 750 000.00 | 2 681 467.25 | 0.54 |
| USD	GOLDMAN SACHS GROUP INC 2.60000% 20-07.02.30 | 1 000 000.00 | 1 081 146.10 | 0.22 |
| USD	GOLDMAN SACHS GROUP INC 3.80000% 20-15.03.30 | 1 000 000.00 | 1 171 367.60 | 0.24 |
| USD	GOLDMAN SACHS GROUP INC/THE 3.50000% 16-16.11.26 | 1 000 000.00 | 1 121 247.80 | 0.23 |
| USD	HCA INC 4.75000% 12-01.05.23 | 1 087 000.00 | 1 187 779.47 | 0.24 |
| USD	HCA INC 5.25000% 19-15.06.49 | 1 750 000.00 | 2 316 037.50 | 0.47 |
| USD	HOME DEPOT INC/THE 4.20000% 13-01.04.43 | 1 590 000.00 | 2 079 043.46 | 0.42 |
| USD	HSBC HOLDINGS PLC-SUB 4.37500% 16-23.11.26 | 2 250 000.00 | 2 572 409.25 | 0.52 |
| USD	INTEL CORP 4.60000% 20-25.03.40 | 1 000 000.00 | 1 344 758.11 | 0.27 |
| USD	INTERCONTINENTAL EXCHANGE INC 3.00000% 20-15.06.50 | 1 825 000.00 | 1 973 329.98 | 0.40 |
| USD	INTERNATIONAL BUSINESS MACHINES CORP 4.25000% 19-15.05.49 | 2 000 000.00 | 2 659 265.40 | 0.54 |
| USD	INTERNATIONAL LEASE FINANCE CORP 5.87500% 12-15.08.22 | 1 500 000.00 | 1 615 150.80 | 0.33 |
| USD	JPMORGAN CHASE & CO-SUB 3.87500% 14-10.09.24 | 3 500 000.00 | 3 904 022.85 | 0.79 |
| USD	KINROSS GOLD CORP 5.95000% 14-15.03.24 | 3 500 000.00 | 3 996 340.60 | 0.81 |
| USD	KROGER CO 3.87500% 16-15.10.46 | 1 000 000.00 | 1 176 440.80 | 0.24 |
| USD	LENNOX INTERNATIONAL INC 1.70000% 20-01.08.27 | 2 000 000.00 | 2 020 415.00 | 0.41 |
| USD	LINCOLN NATIONAL CORP 4.35000% 18-01.03.48 | 1 000 000.00 | 1 224 076.10 | 0.25 |
| USD	LOWE’S COS INC 3.70000% 16-15.04.46 | 2 000 000.00 | 2 350 106.00 | 0.48 |
| USD	MARATHON OIL CORP 3.85000% 15-01.06.25 | 2 000 000.00 | 2 104 659.40 | 0.43 |
| USD	MASCO CORP 4.50000% 17-15.05.47 | 2 750 000.00 | 3 451 557.45 | 0.70 |
| USD	MERCK & CO INC 2.35000% 20-24.06.40 | 1 500 000.00 | 1 567 617.15 | 0.32 |
| USD	MICROSOFT CORP 3.70000% 16-08.08.46 | 5 000 000.00 | 6 439 482.50 | 1.31 |
| USD	MITSUBISHI UFJ FINANCIAL GRP INC 2.19300% 20-25.02.25 | 2 000 000.00 | 2 100 040.00 | 0.43 |
| USD	MPLX LP 2.65000% 20-15.08.30 | 1 000 000.00 | 1 012 536.70 | 0.21 |
| USD	MPLX LP 4.87500% 16-01.12.24 | 2 500 000.00 | 2 832 838.25 | 0.57 |
| USD	NATWEST GROUP PLC 4.80000% 16-05.04.26 | 2 000 000.00 | 2 338 002.40 | 0.47 |

UBS (Lux) Bond SICAV – USD Corporates (USD) Semi-Annual Report as of 30 November 2020
|  | Description | Quantity/ | Valuation in USD | as a % |
| --- | --- | --- | --- | --- |
|  | Nominal | Unrealized gain | of net |
|  |  | (loss) on Futures/ | assets |
|  |  | Forward |  |
|  |  | Exchange Contracts/ |  |
|  |  | Swaps (Note 1) |  |
|  |  |  |  |  |
| USD | NOBLE ENERGY INC 3.90000% 14-15.11.24 | 926 000.00 | 1 032 124.32 | 0.21 |
| USD | NORFOLK SOUTHERN CORP 4.10000% 19-15.05.49 | 2 000 000.00 | 2 565 305.60 | 0.52 |
| USD | NUCOR CORP 2.00000% 20-01.06.25 | 1 000 000.00 | 1 050 574.10 | 0.21 |
| USD | NVIDIA CORP 2.85000% 20-01.04.30 | 1 000 000.00 | 1 120 572.20 | 0.23 |
| USD | OCCIDENTAL PETROLEUM CORP 2.90000% 19-15.08.24 | 2 500 000.00 | 2 331 250.00 | 0.47 |
| USD | ORACLE CORP 2.80000% 20-01.04.27 | 2 500 000.00 | 2 753 075.00 | 0.56 |
| USD | ORACLE CORP 3.60000% 20-01.04.40 | 3 000 000.00 | 3 495 559.51 | 0.71 |
| USD | PAYPAL HOLDINGS INC 2.30000% 20-01.06.30 | 2 000 000.00 | 2 148 733.80 | 0.44 |
| USD | PIONEER NATURAL RESOURCES CO 1.90000% 20-15.08.30 | 1 000 000.00 | 983 635.22 | 0.20 |
| USD | PLAINS ALL AMERICAN PIPELINE LP 3.80000% 20-15.09.30 | 1 000 000.00 | 1 041 848.10 | 0.21 |
| USD | PRUDENTIAL FINANCIAL INC 3.93500% 18-07.12.49 | 2 396 000.00 | 2 913 507.96 | 0.59 |
| USD | PUBLIC STORAGE 3.09400% 17-15.09.27 | 2 500 000.00 | 2 804 586.00 | 0.57 |
| USD | QUALCOMM INC 4.30000% 17-20.05.47 | 500 000.00 | 675 325.44 | 0.14 |
| USD | QUANTA SERVICES INC 2.90000% 20-01.10.30 | 2 000 000.00 | 2 140 420.60 | 0.43 |
| USD | RABOBANK NEDERLAND NV-SUB 3.75000% 16-21.07.26 | 1 000 000.00 | 1 125 229.90 | 0.23 |
| USD | RABOBANK NEDERLAND-SUB 4.62500% 13-01.12.23 | 2 250 000.00 | 2 504 353.95 | 0.51 |
| USD | ROPER TECHNOLOGIES INC 2.00000% 20-30.06.30 | 1 000 000.00 | 1 027 954.10 | 0.21 |
| USD | SABINE PASS LIQUEFACTION LLC 5.00000% 17-15.03.27 | 1 750 000.00 | 2 026 634.57 | 0.41 |
| USD | SEAGATE HDD CAYMAN 5.75000% 15-01.12.34 | 1 800 000.00 | 2 123 494.38 | 0.43 |
| USD | SHELL INTERNATIONAL FINANCE BV 4.00000% 16-10.05.46 | 2 000 000.00 | 2 476 628.00 | 0.50 |
| USD | SHERWIN-WILLIAMS CO 4.50000% 17-01.06.47 | 1 500 000.00 | 1 996 321.20 | 0.41 |
| USD | SOUTHWEST AIRLINES CO 3.45000% 17-16.11.27 | 5 000 000.00 | 5 292 687.50 | 1.07 |
| USD | SPECTRA ENERGY PARTNERS LP 4.50000% 15-15.03.45 | 1 000 000.00 | 1 144 549.60 | 0.23 |
| USD | STEEL DYNAMICS INC 5.00000% 17-15.12.26 | 3 000 000.00 | 3 201 972.30 | 0.65 |
| USD | SYSCO CORP 5.65000% 20-01.04.25 | 2 000 000.00 | 2 383 946.20 | 0.48 |
| USD | T-MOBILE USA INC 5.12500% 17-15.04.25 | 2 000 000.00 | 2 051 900.00 | 0.42 |
| USD | T-MOBILE USA INC 5.37500% 17-15.04.27 | 1 000 000.00 | 1 070 000.00 | 0.22 |
| USD | TELEFONICA EMISIONES SA 5.52000% 19-01.03.49 | 1 000 000.00 | 1 335 210.10 | 0.27 |
| USD | THE HERSHEY CO 3.12500% 19-15.11.49 | 2 150 000.00 | 2 445 561.14 | 0.50 |
| USD | TIME WARNER CABLE LLC 7.30000% 08-01.07.38 | 1 000 000.00 | 1 470 214.30 | 0.30 |
| USD | TOLL BROTHERS FINANCE CORP 4.87500% 15-15.11.25 | 1 250 000.00 | 1 410 937.50 | 0.29 |
| USD | TRANSCANADA PIPELINES LTD 4.10000% 20-15.04.30 | 2 000 000.00 | 2 334 311.40 | 0.47 |
| USD | TRUIST BANK-SUB 3.30000% 16-15.05.26 | 2 000 000.00 | 2 237 109.20 | 0.45 |
| USD | UNION PACIFIC CORP 3.60000% 17-15.09.37 | 2 000 000.00 | 2 348 937.40 | 0.48 |
| USD | UNITED RENTALS NORTH AMERICA INC 4.00000% 20-15.07.30 | 2 000 000.00 | 2 105 000.00 | 0.43 |
| USD | UNITEDHEALTH GROUP INC 3.95000% 12-15.10.42 | 1 156 000.00 | 1 460 909.57 | 0.30 |
| USD | VALE OVERSEAS LTD 3.75000% 20-08.07.30 | 1 000 000.00 | 1 097 700.00 | 0.22 |
| USD | VERIZON COMMUNICATIONS INC 5.01200% 17-15.04.49 | 244 000.00 | 345 732.51 | 0.07 |
| USD | VIRGINIA ELECTRIC & POWER CO 4.60000% 18-01.12.48 | 2 000 000.00 | 2 884 804.19 | 0.59 |
| USD | VISA INC 2.00000% 20-15.08.50 | 2 000 000.00 | 1 910 254.82 | 0.39 |
| USD | VODAFONE GROUP PLC 4.87500% 19-19.06.49 | 1 000 000.00 | 1 309 746.90 | 0.27 |
| USD | WELLS FARGO & CO-SUB 4.12500% 13-15.08.23 | 2 500 000.00 | 2 730 209.50 | 0.55 |
| USD | WESTERN MIDSTREAM OPERATING LP 5.37500% 11-01.06.21 | 2 112 000.00 | 2 127 840.00 | 0.43 |
| Total USD |  |  | 293 627 242.95 | 59.60 |
| Total Notes, fixed rate |  | 293 627 242.95 | 59.60 |
| Notes, floating rate |  |  |  |
| USD |  |  |  |
| USD	GOLDMAN SACHS GROUP INC 2.908%/VAR 17-05.06.23 | 2 000 000.00 | 2 074 179.20 | 0.42 |
| USD	HSBC HOLDINGS PLC 2.099%/VAR 20-04.06.26 | 2 500 000.00 | 2 578 804.50 | 0.52 |
| USD	JPMORGAN CHASE &CO 3.109%/VAR 20-22.04.51 | 1 500 000.00 | 1 675 845.45 | 0.34 |
| USD	MORGAN STANLEY 5.597%/VAR 20-24.03.51 | 2 000 000.00 | 3 222 469.60 | 0.65 |
| USD	WELLS FARGO & CO 2.188%/VAR 20-30.04.26 | 1 500 000.00 | 1 570 135.35 | 0.32 |
| USD	WESTPAC BANKING CORP-SUB 2.668%/VAR 20-15.11.35 | 2 000 000.00 | 2 045 280.00 | 0.42 |
| Total USD |  | 13 166 714.10 | 2.67 |
| Total Notes, floating rate |  | 13 166 714.10 | 2.67 |
| Medium term notes, fixed rate |  |  |  |
| USD |  |  |  |
| USD	AIR LEASE CORP 3.00000% 20-01.02.30 | 1 000 000.00 | 1 002 319.60 | 0.20 |
| USD	BANK OF AMERICA CORP-SUB 4.20000% 14-26.08.24 | 7 000 000.00 | 7 836 675.00 | 1.59 |
| USD	BANK OF AMERICA CORP-SUB 4.18300% 16-25.11.27 | 5 000 000.00 | 5 778 389.00 | 1.17 |
| USD	FORD MOTOR CREDIT CO LLC 4.38900% 16-08.01.26 | 750 000.00 | 780 000.00 | 0.16 |
| USD	MCDONALD’S CORP 4.45000% 17-01.03.47 | 2 000 000.00 | 2 589 733.60 | 0.53 |
| USD	MORGAN STANLEY-SUB 4.10000% 13-22.05.23 | 2 500 000.00 | 2 707 043.00 | 0.55 |
| USD	PUBLIC SERVICE ELECTRIC & GAS CO 3.15000% 20-01.01.50 | 3 000 000.00 | 3 456 962.10 | 0.70 |
| USD	SAUDI ARABIAN OIL CO-144A 4.37500% 19-16.04.49 | 2 000 000.00 | 2 424 022.60 | 0.49 |
| Total USD |  | 26 575 144.90 | 5.39 |
| Total Medium term notes, fixed rate |  | 26 575 144.90 | 5.39 |
| Medium term notes, floating rate |  |  |  |
| USD |  |  |  |
| USD	BANK OF AMERICA CORP 2.496%/3M LIBOR+99BP 20-13.02.31 | 1 000 000.00 | 1 054 729.70 | 0.22 |
| USD	BANK OF AMERICA CORP 2.676%/VAR 20-19.06.41 | 750 000.00 | 781 913.63 | 0.16 |
| USD	MORGAN STANLEY 3.622%/VAR 20-01.04.31 | 2 000 000.00 | 2 330 375.00 | 0.47 |
| USD	WELLS FARGO & CO 2.879%/VAR 19-30.10.30 | 2 000 000.00 | 2 174 117.80 | 0.44 |
| Total USD |  | 6 341 136.13 | 1.29 |
| Total Medium term notes, floating rate |  | 6 341 136.13 | 1.29 |
| Bonds, fixed rate |  |  |  |
| USD |  |  |  |
| USD	BALTIMORE GAS & ELECTRIC CO 3.50000% 16-15.08.46 | 1 250 000.00 | 1 460 316.12 | 0.30 |
| USD	BURLINGTON NORTHERN SANTA FE LLC 4.05000% 18-15.06.48 | 2 000 000.00 | 2 687 438.00 | 0.55 |
| USD	CONSOLIDATED EDISON CO OF NEW YORK INC 4.65000% 18-01.12.48 | 1 500 000.00 | 2 024 086.35 | 0.41 |
| USD	DUKE ENERGY CAROLINAS LLC 6.05000% 08-15.04.38 | 925 000.00 | 1 399 024.39 | 0.28 |
| USD	DUKE ENERGY OHIO INC 4.30000% 19-01.02.49 | 3 000 000.00 | 3 960 432.90 | 0.80 |
| USD	EL PASO NATURAL GAS CO 8.37500% 03-15.06.32 | 1 050 000.00 | 1 483 865.67 | 0.30 |
| USD	ENERGY TRANSFER OPERATING LP 4.25000% 19-15.03.23 | 2 500 000.00 | 2 631 586.50 | 0.54 |
| USD	ENTERPRISE PRODUCTS OPERATING LP 6.87500% 03-01.03.33 | 900 000.00 | 1 234 599.93 | 0.25 |

UBS (Lux) Bond SICAV – USD Corporates (USD) Semi-Annual Report as of 30 November 2020
|  | Description | Quantity/ | Valuation in USD | as a % |
| --- | --- | --- | --- | --- |
|  | Nominal | Unrealized gain | of net |
|  |  | (loss) on Futures/ | assets |
|  |  | Forward |  |
|  |  | Exchange Contracts/ |  |
|  |  | Swaps (Note 1) |  |
|  |  |  |  |  |
| USD | RABOBANK NEDERLAND NV-SUB 3.95000% 12-09.11.22 | 1 250 000.00 | 1 330 037.75 | 0.27 |
| USD | SAN DIEGO GAS & ELECTRIC CO 4.10000% 19-15.06.49 | 1 000 000.00 | 1 254 231.40 | 0.26 |
| USD | SOUTHERN CALIFORNIA EDISON CO 3.65000% 20-01.02.50 | 4 250 000.00 | 4 943 634.00 | 1.00 |
| USD | TIME WARNER ENTERTAINMENT CO L P 8.37500% 93-15.03.23 | 1 300 000.00 | 1 532 227.71 | 0.31 |
| Total USD |  |  | 25 941 480.72 | 5.27 |
| Total Bonds, fixed rate |  | 25 941 480.72 | 5.27 |
| Bonds, floating rate |  |  |  |
| USD |  |  |  |
| USD	BP CAPITAL MARKETS PLC-SUB 4.875%/VAR 20-PRP | 2 000 000.00 | 2 205 600.00 | 0.45 |
| USD	DEUTSCHE TELEKOM INTL FIN 8.250%/RATING LINKED 00-15.06.30 | 2 750 000.00 | 4 365 166.57 | 0.88 |
| Total USD |  | 6 570 766.57 | 1.33 |
| Total Bonds, floating rate |  | 6 570 766.57 | 1.33 |
| Total Transferable securities and money market instruments listed on an official stock exchange |  | 372 222 485.37 | 75.55 |
| Transferable securities and money market instruments traded on another regulated market |  |  |  |
| Mortgage Backed Securities, floating rate |  |  |  |
| USD |  |  |  |
| USD	CG-CCRE CMCL MRTG TRUST-144A-SUB 1M LIBOR+175BP 14-15.06.31 | 2 375 000.00 | 2 127 073.75 | 0.43 |
| Total USD |  | 2 127 073.75 | 0.43 |
| Total Mortgage Backed Securities, floating rate |  | 2 127 073.75 | 0.43 |
| Notes, fixed rate |  |  |  |
| USD |  |  |  |
| USD	AKER BP ASA-144A 3.00000% 20-15.01.25 | 2 675 000.00 | 2 720 383.78 | 0.55 |
| USD	BROADCOM INC 4.11000% 20-15.09.28 | 2 124 000.00 | 2 433 125.69 | 0.50 |
| USD	CENTENE CORP 3.37500% 20-15.02.30 | 2 500 000.00 | 2 620 300.00 | 0.53 |
| USD	GE CAPITAL FUNDING LLC-144A 3.45000% 20-15.05.25 | 2 000 000.00 | 2 173 590.80 | 0.44 |
| USD	GE CAPITAL FUNDING LLC-144A 4.05000% 20-15.05.27 | 1 000 000.00 | 1 124 327.70 | 0.23 |
| USD	GENERAL MOTORS FINANCIAL CO INC 4.25000% 14-15.05.23 | 2 000 000.00 | 2 154 627.80 | 0.44 |
| USD	GLENCORE FUNDING LLC-144A 4.12500% 19-12.03.24 | 1 500 000.00 | 1 634 392.50 | 0.33 |
| USD	GLP CAPITAL LP / GLP FINANC II INC 5.37500% 14-01.11.23 | 500 000.00 | 538 830.00 | 0.11 |
| USD	HARLEY-DAVIDSON FIN.SERV INC-144A 3.35000% 18-15.02.23 | 2 500 000.00 | 2 595 705.25 | 0.53 |
| USD	HCA INC 5.00000% 14-15.03.24 | 2 250 000.00 | 2 530 584.90 | 0.51 |
| USD	JPMORGAN CHASE & CO-SUB 3.62500% 16-01.12.27 | 8 000 000.00 | 9 073 499.20 | 1.84 |
| USD	KINDER MORGAN INC-144A 5.62500% 13-15.11.23 | 4 000 000.00 | 4 521 169.20 | 0.92 |
| USD	KKR GROUP FINANCE CO II LLC-144A 5.50000% 13-01.02.43 | 1 150 000.00 | 1 536 095.48 | 0.31 |
| USD	LEVEL 3 FINANCING INC-144A 3.87500% 19-15.11.29 | 2 500 000.00 | 2 744 212.50 | 0.56 |
| USD	MERCK & CO INC 3.70000% 15-10.02.45 | 1 380 000.00 | 1 738 403.80 | 0.35 |
| USD	MORGAN STANLEY 3.70000% 14-23.10.24 | 4 000 000.00 | 4 447 015.20 | 0.90 |
| USD	MORGAN STANLEY 3.87500% 14-29.04.24 | 3 500 000.00 | 3 870 072.85 | 0.79 |
| USD	NORDEA BANK ABP-144A-SUB 4.25000% 12-21.09.22 | 3 060 000.00 | 3 252 199.52 | 0.66 |
| USD	NOVA CHEMICALS CORP-144A 5.25000% 17-01.06.27 | 955 000.00 | 995 539.75 | 0.20 |
| USD	NRG ENERGY INC-144A 3.75000% 19-15.06.24 | 425 000.00 | 457 410.16 | 0.09 |
| USD	NXP BV / NXP FUNDING LLC-144A 5.55000% 18-01.12.28 | 6 000 000.00 | 7 550 921.40 | 1.53 |
| USD	PPL CAPITAL FUNDING INC 4.70000% 13-01.06.43 | 2 000 000.00 | 2 493 950.00 | 0.51 |
| USD	PRINCIPAL FINANCIAL GROUP INC 2.12500% 20-15.06.30 | 1 000 000.00 | 1 043 376.90 | 0.21 |
| USD	SOCIETE GENERALE SA-144A 4.00000% 17-12.01.27 | 3 000 000.00 | 3 367 955.40 | 0.68 |
| USD	TECK RESOURCES LTD 6.12500% 05-01.10.35 | 1 000 000.00 | 1 262 692.60 | 0.26 |
| USD	UNITED TECHNOLOGIES CORP 4.50000% 12-01.06.42 | 3 000 000.00 | 3 967 620.00 | 0.81 |
| USD	UPJOHN INC-144A 1.65000% 20-22.06.25 | 1 000 000.00 | 1 030 120.00 | 0.21 |
| USD	VERIZON COMMUNICATIONS INC-144A 2.98700% 20-30.10.56 | 2 605 000.00 | 2 759 330.10 | 0.56 |
| USD	VOLKSWAGEN GRP OF AMERICA FINANCE-144A 4.62500% 18-13.11.25 | 1 500 000.00 | 1 741 930.20 | 0.35 |
| Total USD |  | 78 379 382.68 | 15.91 |
| Total Notes, fixed rate |  | 78 379 382.68 | 15.91 |
| Medium term notes, fixed rate |  |  |  |
| USD |  |  |  |
| USD	INTESA SANPAOLO SPA-144A 6.50000% 11-24.02.21 | 5 000 000.00 | 5 061 999.00 | 1.03 |
| Total USD |  | 5 061 999.00 | 1.03 |
| Total Medium term notes, fixed rate |  | 5 061 999.00 | 1.03 |
| Medium term notes, floating rate |  |  |  |
| USD |  |  |  |
| USD	NATIONAL AUSTRALIA BANK LTD-144A-SUB 3.933%/VAR 19-02.08.34 | 2 000 000.00 | 2 240 480.40 | 0.45 |
| Total USD |  | 2 240 480.40 | 0.45 |
| Total Medium term notes, floating rate |  | 2 240 480.40 | 0.45 |
| Bonds, fixed rate |  |  |  |
| USD |  |  |  |
| USD	NEVADA POWER CO 6.65000% 06-01.04.36 | 1 174 000.00 | 1 761 054.24 | 0.36 |
| USD	NGPL PIPECO LLC-144A 4.87500% 17-15.08.27 | 2 500 000.00 | 2 795 237.25 | 0.57 |
| USD	PACIFIC GAS & ELECTRIC CO 3.45000% 20-01.07.25 | 2 500 000.00 | 2 692 168.75 | 0.54 |
| Total USD |  | 7 248 460.24 | 1.47 |
| Total Bonds, fixed rate |  | 7 248 460.24 | 1.47 |
| Total Transferable securities and money market instruments traded on another regulated market |  | 95 057 396.07 | 19.29 |
| UBS (Lux) Bond SICAV – USD Corporates (USD) |  |  |  |
| Semi-Annual Report as of 30 November 2020 |  |  |  |

| 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 not listed on an official stock exchange and not traded on another regulated market
Notes, fixed rate
| USD |  |
| --- | --- |
| USD | FOX CORP 4.70900% 20-25.01.29 | 2 000 000.00 | 2 419 914.60 | 0.49 |
| USD | TECK RESOURCES LTD 3.90000% 20-15.07.30 | 1 000 000.00 | 1 091 101.00 | 0.23 |
| Total USD |  |  | 3 511 015.60 | 0.72 |
| Total Notes, fixed rate |  | 3 511 015.60 | 0.72 |
| Bonds, fixed rate |  |  |  |
| USD |  |  |  |
| USD	DUKE UNIVERSITY 2.68200% 20-01.10.44 | 1 500 000.00 | 1 590 522.30 | 0.32 |
| Total USD |  | 1 590 522.30 | 0.32 |
| Total Bonds, fixed rate |  | 1 590 522.30 | 0.32 |
| Total Transferable securities and money market instruments not listed on an official stock exchange and not traded on another regulated market |  | 5 101 537.90 | 1.04 |
| Recently issued transferable securities and money market instruments |  |  |  |
| Notes, fixed rate |  |  |  |
| USD |  |  |  |
| USD	AES CORP-144A 1.37500% 20-15.01.26 | 2 500 000.00 | 2 521 071.50 | 0.51 |
| USD	AUSTRALIA & NEW ZEALAND BANK-144A-SUB 2.57000% 20-25.11.35 | 2 250 000.00 | 2 288 102.17 | 0.47 |
| USD	CARRIER GLOBAL CORP-144A 2.49300% 20-15.02.27 | 2 000 000.00 | 2 136 287.20 | 0.43 |
| USD	GE CAPITAL FUNDING LLC-144A 4.55000% 20-15.05.32 | 2 000 000.00 | 2 312 361.80 | 0.47 |
| USD	GRAPHIC PACKAGING INTERNATIONL INC-144A 3.50000% 20-15.03.28 | 1 000 000.00 | 1 042 210.00 | 0.21 |
| USD	UPJOHN INC-144A 4.00000% 20-22.06.50 | 2 000 000.00 | 2 282 040.40 | 0.46 |
| Total USD |  | 12 582 073.07 | 2.55 |
| Total Notes, fixed rate |  | 12 582 073.07 | 2.55 |
| Notes, floating rate |  |  |  |
| USD |  |  |  |
| USD	BNP PARIBAS-144A 3.052%/VAR 20-13.01.31 | 4 000 000.00 | 4 342 415.60 | 0.88 |
| Total USD |  | 4 342 415.60 | 0.88 |
| Total Notes, floating rate | 4 342 415.60 | 0.88 |
| Total Recently issued transferable securities and money market instruments | 16 924 488.67 | 3.43 |
| UCITS/Other UCIs in accordance with Article 41 (1) e) of the amended Luxembourg law of 17 December 2010 |  |  |
| Investment funds, open end |  |  |
| Luxembourg |  |  |
| USD	UBS (LUX) BOND SICAV - MULTI INCOME (USD) U-X-ACC	270.00 | 2 828 150.10 | 0.57 |
| Total Luxembourg | 2 828 150.10 | 0.57 |
| Total Investment funds, open end | 2 828 150.10 | 0.57 |
| Total UCITS/Other UCIs in accordance with Article 41 (1) e) of the amended Luxembourg law of 17 December 2010 | 2 828 150.10 | 0.57 |
| Total investments in securities | 492 134 058.11 | 99.88 |

| Derivative instruments |  |
| --- | --- |
| Derivative instruments listed on an official stock exchange |
| Financial Futures on bonds |
|  |  |  |  |
| USD	US ULTRA LONG BOND (CBT) FUTURE 22.03.21 | -60.00 | -93 656.25 | -0.02 |
| USD	US 10YR TREASURY NOTE FUTURE 22.03.21 | -25.00 | -8 984.38 | 0.00 |
| Total Financial Futures on bonds |  | -102 640.63 | -0.02 |
| Total Derivative instruments listed on an official stock exchange |  | -102 640.63 | -0.02 |
| Total Derivative instruments |  | -102 640.63 | -0.02 |
| Forward Foreign Exchange contracts |  |  |  |
| Currency purchased/Amount purchased/Currency sold/Amount sold/Maturity date |  |  |  |

| CHF | 18 657 200.00 | USD | 20 504 558.17 | 21.1.2021 | 143 911.39 | 0.03 |
| --- | --- | --- | --- | --- | --- | --- |
| EUR | 15 442 400.00 | USD | 18 383 281.54 | 21.1.2021 | 117 736.50 | 0.02 |
| USD | 389 579.76 | CHF | 353 500.00 | 21.1.2021 | -1 649.04 | 0.00 |
| Total Forward Foreign Exchange contracts | 259 998.85 | 0.05 |
|  |  |  |
| Cash at banks, deposits on demand and deposit accounts and other liquid assets | 1 152 985.95 | 0.23 |
| Bank overdraft and other short-term liabilities | -4 267 523.30 | -0.87 |
| Other assets and liabilities | 3 528 869.72 | 0.73 |
| Total net assets | 492 705 748.70 | 100.00 |

UBS (Lux) Bond SICAV – USD Corporates (USD) Semi-Annual Report as of 30 November 2020

Translation (ENFR, 2020-11-30):
# UBS (Lux) Bond SICAV – USD Corporates (USD)
| Données principales |  |
| --- | --- |
|  | ISIN | 30.11.2020 | 31.5.2020 | 31.5.2019 |
| Actif net en USD |  | 492 705 748.70 | 424 732 587.49 | 576 063 449.24 |
| Catégorie F-acc | LU0396366626 |  |  |  |
| Actions en circulation |  | 1 180 975.8470 | 1 751 380.8470 | 2 373 735.8470 |
| Valeur nette d’inventaire par action en USD |  | 23.38 | 21.78 | 19.77 |
| Prix d’émission et de rachat par action en USD 1 |  | 23.62 | 21.78 | 19.73 |
| Catégorie I-A1-acc | LU0396367277 |  |  |  |
| Actions en circulation |  | 183 091.9130 | 190 416.2140 | 155 460.6170 |
| Valeur nette d’inventaire par action en USD |  | 168.95 | 157.53 | 143.18 |
| Prix d’émission et de rachat par action en USD 1 |  | 170.67 | 157.53 | 142.89 |
| Catégorie I-A3-acc | LU0396367608 |  |  |  |
| Actions en circulation |  | 6 545.4140 | 5 135.4140 | 617 118.1300 |
| Valeur nette d’inventaire par action en USD |  | 138.20 | 128.77 | 116.90 |
| Prix d’émission et de rachat par action en USD 1 |  | 139.61 | 128.77 | 116.67 |
| Catégorie I-B-acc 2 | LU0396367863 |  |  |  |
| Actions en circulation |  | - | - | 7 719.7620 |
| Valeur nette d’inventaire par action en USD |  | - | - | 169.82 |
| Prix d’émission et de rachat par action en USD 1 |  | - | - | 169.48 |
| Catégorie (EUR hedged) I-B-dist 3 | LU0876650895 |  |  |  |
| Actions en circulation |  | - | - | 440 000.0000 |
| Valeur nette d’inventaire par action en EUR |  | - | - | 93.03 |
| Prix d’émission et de rachat par action en EUR 1 |  | - | - | 92.84 |
| Catégorie I-X-acc | LU0396368085 |  |  |  |
| Actions en circulation |  | 65 457.0660 | 72 351.6110 | 72 375.5380 |
| Valeur nette d’inventaire par action en USD |  | 177.41 | 165.01 | 149.23 |
| Prix d’émission et de rachat par action en USD 1 |  | 179.22 | 165.01 | 148.93 |
| Catégorie P-acc | LU0172069584 |  |  |  |
| Actions en circulation |  | 5 147 138.5990 | 5 214 639.9190 | 5 187 714.6880 |
| Valeur nette d’inventaire par action en USD |  | 22.00 | 20.58 | 18.83 |
| Prix d’émission et de rachat par action en USD 1 |  | 22.22 | 20.58 | 18.79 |
| Catégorie (CHF hedged) P-acc | LU0776291220 |  |  |  |
| Actions en circulation |  | 41 212.1130 | 37 732.6290 | 40 668.2070 |
| Valeur nette d’inventaire par action en CHF |  | 123.81 | 116.58 | 110.32 |
| Prix d’émission et de rachat par action en CHF 1 |  | 125.07 | 116.58 | 110.10 |
| Catégorie P-mdist 4 | LU0849272793 |  |  |  |
| Actions en circulation |  | 100.0000 | - | - |
| Valeur nette d’inventaire par action en USD |  | 101.98 | - | - |
| Prix d’émission et de rachat par action en USD 1 |  | 103.02 | - | - |
| Catégorie Q-acc | LU0396366972 |  |  |  |
| Actions en circulation |  | 805 668.2070 | 530 980.7760 | 270 590.5040 |
| Valeur nette d’inventaire par action en USD |  | 196.22 | 183.09 | 166.64 |
| Prix d’émission et de rachat par action en USD 1 |  | 198.22 | 183.09 | 166.31 |
| Catégorie (CHF hedged) Q-acc | LU1240777026 |  |  |  |
| Actions en circulation |  | 114 729.8430 | 166 858.3640 | 123 168.2090 |
| Valeur nette d’inventaire par action en CHF |  | 119.93 | 112.61 | 106.00 |
| Prix d’émission et de rachat par action en CHF 1 |  | 121.15 | 112.61 | 105.79 |
| Catégorie (EUR hedged) Q-acc | LU0848113352 |  |  |  |
| Actions en circulation |  | 128 478.6920 | 76 724.5840 | 963 947.2130 |
| Valeur nette d’inventaire par action en EUR |  | 126.27 | 118.41 | 111.13 |
| Prix d’émission et de rachat par action en EUR 1 |  | 127.56 | 118.41 | 110.91 |
| Catégorie U-X-acc | LU0396368242 |  |  |  |
| Actions en circulation | 8 308.0000 | 8 536.0000 | 8 740.0000 |
| Valeur nette d’inventaire par action en USD | 13 250.60 | 12 323.89 | 11 145.31 |
| Prix d’émission et de rachat par action en USD 1 | 13 385.76 | 12 323.89 | 11 123.02 |
| 1  Voir note 1 2  La catégorie d’actions I-B-acc était en circulation jusqu’au 7.8.2019 3  La catégorie d’actions (EUR hedged) I-B-dist était en circulation jusqu’au 31.5.2019 4  Première VNI 15.9.2020 |  |  |  |

UBS (Lux) Bond SICAV – USD Corporates (USD) Rapport semestriel au 30 novembre 2020

## Structure du portefeuille-titres
Répartition géographique en % de l’actif net	
Etats-Unis	78.10
Pays-Bas	3.93
Grande-Bretagne	3.72
France	2.02
Canada	1.97
Irlande	1.91
Australie	1.33
Norvège	1.21
Italie	1.03
Finlande	0.66
Guernesey	0.65
Chine	0.63
Luxembourg	0.57
Arabie saoudite	0.49
Iles Caïmans	0.43
Japon	0.43
Suisse	0.31
Espagne	0.27
Brésil	0.22
Total	99.88
Répartition économique en % de l’actif net	
Banques & instituts de crédit	20.99
Etablissements financiers et sociétés de participation	16.68
Distribution d’énergie & d’eau	8.79
Pétrole	6.16
Télécommunications	4.97
Produits pharmaceutiques, cosmétiques & médicaux	4.24
Trafic et transport	3.61
Internet, logiciels et services informatiques	3.24
Assurances	2.90
Electronique et semi-conducteurs	2.47
Equipement informatique et de réseau	2.38
Soins de santé & services sociaux	2.38
Industrie graphique, édition et médias	2.30
Industrie aéronautique et spatiale	2.24
Appareils et composants électriques	2.10
Industrie minière, charbon et acier	1.67
Commerce de détail, centres commerciaux	1.53
Tabac et boissons alcoolisées	1.23
Emetteurs d’obligations sécurisées (Pfandbriefe) et
sociétés de refinancement	1.10
Services divers	1.01
Alimentation & softs	0.93
Bâtiment et matériaux de construction	0.82
Métaux non ferreux	0.81
Immobilier	0.78
Biens de consommation divers	0.70
Diverses sociétés commerciales	0.69
Chimie	0.67
Biotechnologie	0.63
Fonds de placement	0.57
Restauration et loisirs	0.53
Diverses sociétés non classées	0.31
Véhicules	0.24
Machines et appareils	0.21
Total	99.88
UBS (Lux) Bond SICAV – USD Corporates (USD) Rapport semestriel au 30 novembre 2020

## Etat des actifs nets
Actif	30.11.2020
USD
Portefeuille-titres, cours d’achat	445 334 925.92
| Portefeuille-titres, plus-/(moins)-value non réalisée | 	46 799 132.19	 |
| --- | --- |
| Total du Portefeuille-titres (note 1) | 492 134 058.11 |
| Avoirs en banque, dépôts à vue et à terme | 439 129.70 |
| Autres liquidités (marges) | 713 856.25 |
| Créances sur souscriptions | 2 162 847.43 |
| Intérêts à recevoir sur titres | 4 515 010.44 |
| Bénéfice non réalisé(e) sur contrats de change à terme (note 1) | 259 998.85 |
| Total de l’Actif | 500 224 900.78 |
|  |  |
| Passif |  |
| Perte non réalisé(e) sur contrats financiers à terme (note 1) | -102 640.63 |
| Crédit en compte courant | -4 267 523.30 |
| Intérêts à payer sur crédit en compte courant | -3 746.90 |
| Engagements sur achats de titres (note 1) | -2 498 625.00 |
| Engagements sur rachats | -489 003.96 |
| Provisions pour commission de gestion forfaitaire (note 2) | -113 877.57 |
| Provisions pour taxe d’abonnement (note 3) | -28 659.69 |
| Provisions pour autres commissions et frais (note 2) | 	-15 075.03	 |
| Total des Provisions pour frais | -157 612.29 |
| Total du Passif | -7 519 152.08 |
|  |  |
| Actif net à la fin de la période | 492 705 748.70 |
| Etat des opérations | USD |
| Revenus | 1.6.2020-30.11.2020 |
| Revenus d’intérêts sur liquidités | 2 229.44 |
| Intérêts sur titres | 8 361 374.66 |
| Revenus sur prêts de titres (note 12) | 16 798.32 |
| Autres revenus (note 4) | 730 314.82 |
| Total des Revenus | 9 110 717.24 |
|  |  |
| Charges |  |
| Commission de gestion forfaitaire (note 2) | -1 361 060.46 |
| Taxe d’abonnement (note 3) | -87 296.45 |
| Frais sur prêts de titres (note 12) | -6 719.33 |
| Autres commissions et frais (note 2) | -21 349.91 |
| Charges d’intérêts sur liquidités et crédit en compte courant | -33 622.21 |
| Total des Charges | -1 510 048.36 |
|  |  |
| Revenus/pertes net(te)s de placements | 7 600 668.88 |
|  |  |
| Bénéfices/(pertes) réalisé(e)s (note 1) |  |
| Bénéfice/(perte) réalisé(e) sur titres évalués à la valeur de marché hors options | 3 849 858.47 |
| Bénéfice/perte réalisé(e) sur contrats financiers à terme | 223 127.00 |
| Bénéfice/(perte) réalisé(e) sur contrats de change à terme | 2 924 303.43 |
| Bénéfice/(perte) de change réalisé(e) | -210 168.93 |
| Total des Bénéfices/(pertes) réalisé(e)s | 6 787 119.97 |
|  |  |
| Bénéfice/(perte) net(te) réalisé(e) au cours de la période | 14 387 788.85 |
|  |  |
| 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 | 20 554 408.97 |
| Plus-/(moins)-value non réalisée sur contrats financiers à terme | -102 640.63 |
| Plus-/(moins)-value non réalisée sur contrats de change à terme | -314 655.64 |
| Total des Fluctuations de la plus-/(moins)-value non réalisée | 20 137 112.70 |
|  |  |
| Augmentation/(diminution) nette de l’actif net issue de l’activité | 34 524 901.55 |

UBS (Lux) Bond SICAV – USD Corporates (USD) Rapport semestriel au 30 novembre 2020
| Fluctuations de l’actif net |  |
| --- | --- |
|  |  | USD |
|  |  | 1.6.2020-30.11.2020 |
| Actif net au début de la période |  | 424 732 587.49 |
| Souscriptions |  | 110 555 125.37 |
| Rachats |  | 	-77 106 831.71	 |
| Total des Entrées/(sorties) de capitaux |  | 33 448 293.66 |
| Dividendes versés |  | -34.00 |
| Revenus/pertes net(te)s de placements |  | 7 600 668.88 |
| Total des Bénéfices/(pertes) réalisé(e)s |  | 6 787 119.97 |
| Total des Fluctuations de la plus-/(moins)-value non réalisée |  | 	20 137 112.70	 |
| Augmentation/(diminution) nette de l’actif net issue de l’activité |  | 34 524 901.55 |
| Actif net à la fin de la période |  | 492 705 748.70 |
| Evolution des actions en circulation |  |  |
|  |  | 1.6.2020-30.11.2020 |
| Catégorie |  | F-acc |
| Nombre d’actions en circulation au début de la période |  | 1 751 380.8470 |
| Nombre d’actions émises |  | 29 128.0000 |
| Nombre d’actions rachetées |  | -599 533.0000 |
| Nombre d’actions en circulation à la fin de la période |  | 1 180 975.8470 |
| Catégorie |  | I-A1-acc |
| Nombre d’actions en circulation au début de la période |  | 190 416.2140 |
| Nombre d’actions émises |  | 37 626.7820 |
| Nombre d’actions rachetées |  | -44 951.0830 |
| Nombre d’actions en circulation à la fin de la période |  | 183 091.9130 |
| Catégorie |  | I-A3-acc |
| Nombre d’actions en circulation au début de la période |  | 5 135.4140 |
| Nombre d’actions émises |  | 1 514.0000 |
| Nombre d’actions rachetées |  | -104.0000 |
| Nombre d’actions en circulation à la fin de la période |  | 6 545.4140 |
| Catégorie |  | I-X-acc |
| Nombre d’actions en circulation au début de la période |  | 72 351.6110 |
| Nombre d’actions émises |  | 8 876.5510 |
| Nombre d’actions rachetées |  | -15 771.0960 |
| Nombre d’actions en circulation à la fin de la période |  | 65 457.0660 |
| Catégorie |  | P-acc |
| Nombre d’actions en circulation au début de la période |  | 5 214 639.9190 |
| Nombre d’actions émises |  | 536 650.3880 |
| Nombre d’actions rachetées |  | -604 151.7080 |
| Nombre d’actions en circulation à la fin de la période |  | 5 147 138.5990 |
| Catégorie |  | (CHF hedged) P-acc |
| Nombre d’actions en circulation au début de la période |  | 37 732.6290 |
| Nombre d’actions émises |  | 7 199.3470 |
| Nombre d’actions rachetées |  | -3 719.8630 |
| Nombre d’actions en circulation à la fin de la période |  | 41 212.1130 |
| Catégorie |  | P-mdist |
| Nombre d’actions en circulation au début de la période |  | 0.0000 |
| Nombre d’actions émises |  | 100.0000 |
| Nombre d’actions rachetées |  | 0.0000 |
| Nombre d’actions en circulation à la fin de la période |  | 100.0000 |
| Catégorie |  | Q-acc |
| Nombre d’actions en circulation au début de la période |  | 530 980.7760 |
| Nombre d’actions émises |  | 352 937.4160 |
| Nombre d’actions rachetées |  | -78 249.9850 |
| Nombre d’actions en circulation à la fin de la période |  | 805 668.2070 |
| Catégorie |  | (CHF hedged) Q-acc |
| Nombre d’actions en circulation au début de la période |  | 166 858.3640 |
| Nombre d’actions émises |  | 10 738.9920 |
| Nombre d’actions rachetées |  | -62 867.5130 |
| Nombre d’actions en circulation à la fin de la période |  | 114 729.8430 |
| Catégorie |  | (EUR hedged) Q-acc |
| Nombre d’actions en circulation au début de la période |  | 76 724.5840 |
| Nombre d’actions émises |  | 120 381.2580 |
| Nombre d’actions rachetées |  | -68 627.1500 |
| Nombre d’actions en circulation à la fin de la période |  | 128 478.6920 |
| Catégorie |  | U-X-acc |
| Nombre d’actions en circulation au début de la période |  | 8 536.0000 |
| Nombre d’actions émises |  | 317.0000 |
| Nombre d’actions rachetées |  | -545.0000 |
| Nombre d’actions en circulation à la fin de la période |  | 8 308.0000 |
| Distribution mensuelle 1 |  |  |
| UBS (Lux) Bond SICAV	Date de – USD Corporates (USD)	détachement | Date de versement | Devise	Montant par action |
| P-mdist	15.10.2020 | 20.10.2020 | USD	0.17 |
| P-mdist	16.11.2020 | 19.11.2020 | USD	0.17 |
| 1  Voir note 5 |  | UBS (Lux) Bond SICAV – USD Corporates (USD) Rapport semestriel au 30 novembre 2020 |


## Etat du portefeuille-titres et autres actifs nets au 30 novembre 2020
| 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 4.50000% 15-14.05.35 | 4 000 000.00 | 5 086 413.60 | 1.03 |
| USD	AERCAP IRELAND CAP/ GLBL AVIATION TRUST 6.50000% 20-15.07.25 | 2 000 000.00 | 2 312 111.00 | 0.47 |
| USD	AIR PRODUCTS & CHEMICALS INC 2.70000% 20-15.05.40 | 2 120 000.00 | 2 297 120.70 | 0.47 |
| USD	ALIBABA GROUP HOLDING LTD 4.00000% 17-06.12.37 | 2 610 000.00 | 3 077 353.13 | 0.62 |
| USD	ALLSTATE CORP 3.85000% 19-10.08.49 | 1 000 000.00 | 1 269 010.10 | 0.26 |
| USD	ALPHABET INC 1.90000% 20-15.08.40 | 1 000 000.00 | 987 866.40 | 0.20 |
| USD	AMAZON.COM INC 2.50000% 20-03.06.50 | 1 850 000.00 | 1 956 071.60 | 0.40 |
| USD	AMERICAN EXPRESS CO-SUB 3.62500% 14-05.12.24 | 1 500 000.00 | 1 663 669.95 | 0.34 |
| USD	AMERICAN INTERNATIONAL GROUP INC 4.37500% 20-30.06.50 | 1 000 000.00 | 1 299 928.30 | 0.26 |
| USD	AMERICAN INTL GROUP INC 3.40000% 20-30.06.30 | 1 500 000.00 | 1 707 731.70 | 0.35 |
| USD	AMGEN INC 3.15000% 20-21.02.40 | 1 000 000.00 | 1 083 217.70 | 0.22 |
| USD	ANHEUSER-BUSCH COS 4.70000% 19-01.02.36 | 4 750 000.00 | 6 059 145.12 | 1.23 |
| USD	AON CORP 4.60000% 14-14.06.44 | 2 000 000.00 | 2 689 495.19 | 0.55 |
| USD	APPLE INC 1.65000% 20-11.05.30 | 2 000 000.00 | 2 068 602.80 | 0.42 |
| USD	APPLE INC 3.45000% 15-09.02.45 | 2 000 000.00 | 2 453 664.40 | 0.50 |
| USD	AT&T INC 2.75000% 20-01.06.31 | 3 000 000.00 | 3 189 745.20 | 0.65 |
| USD	AT&T INC 3.50000% 20-01.06.41 | 750 000.00 | 814 448.78 | 0.17 |
| USD	AT&T INC 4.30000% 18-15.02.30 | 2 000 000.00 | 2 395 875.80 | 0.49 |
| USD	AT&T INC 4.35000% 13-15.06.45 | 1 500 000.00 | 1 768 389.00 | 0.36 |
| USD	AT&T INC 4.85000% 19-01.03.39 | 1 000 000.00 | 1 252 464.00 | 0.25 |
| USD	AT&T INC 5.15000% 18-15.11.46 | 1 000 000.00 | 1 294 673.00 | 0.26 |
| USD	BAE SYSTEMS PLC-144A 1.90000% 20-15.02.31 | 2 000 000.00 | 2 019 587.40 | 0.41 |
| USD	BARCLAYS PLC 3.68400% 17-10.01.23 | 2 750 000.00 | 2 837 999.73 | 0.58 |
| USD	BARCLAYS PLC-SUB 4.37500% 14-11.09.24 | 2 250 000.00 | 2 482 817.18 | 0.50 |
| USD	BAT CAPITAL CORP 3.22200% 18-15.08.24 | 1 500 000.00 | 1 621 171.80 | 0.33 |
| USD	BERKSHIRE HATHAWAY 4.25000% 19-15.01.49 | 1 500 000.00 | 2 032 209.00 | 0.41 |
| USD	BERKSHIRE HATHAWAY ENERGY CO 4.45000% 19-15.01.49 | 1 000 000.00 | 1 350 859.00 | 0.27 |
| USD	BOEING CO 4.87500% 20-01.05.25 | 3 045 000.00 | 3 396 699.93 | 0.69 |
| USD	BOEING CO 5.04000% 20-01.05.27 | 1 424 000.00 | 1 630 764.80 | 0.33 |
| USD	BP CAPITAL MARKETS AMERICA INC 3.41000% 19-11.02.26 | 2 000 000.00 | 2 236 679.20 | 0.45 |
| USD	BP CAPITAL MARKETS AMERICA INC 3.00000% 20-24.02.50 | 1 000 000.00 | 1 040 268.70 | 0.21 |
| USD	BRISTOL MYERS SQUIBB CO 4.12500% 20-15.06.39 | 3 000 000.00 | 3 867 789.90 | 0.78 |
| USD	BROADCOM CORP/CAYMAN FIN LTD 3.87500% 18-15.01.27 | 2 000 000.00 | 2 245 734.00 | 0.46 |
| USD	CCO LLC/CAPITAL 4.20000% 17-15.03.28 | 1 000 000.00 | 1 149 855.00 | 0.23 |
| USD	CCO LLC/CAPITAL 6.38400% 16-23.10.35 | 2 500 000.00 | 3 486 079.25 | 0.71 |
| USD	CENTERPOINT ENERGY INC 4.25000% 18-01.11.28 | 500 000.00 | 594 373.75 | 0.12 |
| USD	CHEVRON CORP 2.97800% 20-11.05.40 | 1 000 000.00 | 1 109 765.10 | 0.23 |
| USD	CIGNA CORP 2.40000% 20-15.03.30 | 2 000 000.00 | 2 128 448.40 | 0.43 |
| USD	CITIGROUP INC 3.70000% 16-12.01.26 | 6 250 000.00 | 7 074 940.00 | 1.44 |
| USD	CITIGROUP INC-SUB 6.67500% 13-13.09.43 | 2 000 000.00 | 3 245 914.40 | 0.66 |
| USD	COCA-COLA CO/THE 2.50000% 20-01.06.40 | 2 000 000.00 | 2 159 732.60 | 0.44 |
| USD	COMCAST CORP 4.60000% 18-15.10.38 | 6 750 000.00 | 8 933 201.78 | 1.81 |
| USD	CONCHO RESOURCES INC 2.40000% 20-15.02.31 | 1 000 000.00 | 1 045 766.80 | 0.21 |
| USD	CREDIT AGRICOLE SA-144A-SUB 4.37500% 15-17.03.25 | 2 000 000.00 | 2 235 796.20 | 0.45 |
| USD	CREDIT SUISSE GROUP AG-144A 3.57400% 17-09.01.23 | 1 500 000.00 | 1 548 137.40 | 0.31 |
| USD	CREDIT SUISSE GRP FDNG GUERNSEY 4.55000% 16-17.04.26 | 2 750 000.00 | 3 222 349.62 | 0.65 |
| USD	CVS HEALTH CORP 5.05000% 18-25.03.48 | 2 000 000.00 | 2 697 882.80 | 0.55 |
| USD	DTE ENERGY CO 2.95000% 19-01.03.30 | 3 750 000.00 | 4 100 179.87 | 0.83 |
| USD	EMERSON ELECTRIC CO 1.95000% 20-15.10.30 | 1 500 000.00 | 1 572 548.70 | 0.32 |
| USD	EQUINIX INC 1.80000% 20-15.07.27 | 1 000 000.00 | 1 025 928.60 | 0.21 |
| USD	EQUINOR ASA 2.87500% 20-06.04.25 | 3 000 000.00 | 3 260 516.10 | 0.66 |
| USD	ESTEE LAUDER COS INC 4.37500% 15-15.06.45 | 2 000 000.00 | 2 634 683.60 | 0.53 |
| USD	EXELON CORP 4.95000% 16-15.06.35 | 1 750 000.00 | 2 225 909.87 | 0.45 |
| USD	FEDEX CORP 4.55000% 16-01.04.46 | 3 000 000.00 | 3 859 819.50 | 0.78 |
| USD	FISERV INC 3.50000% 19-01.07.29 | 2 000 000.00 | 2 291 453.40 | 0.47 |
| USD	FORD MOTOR CREDIT CO 3.37500% 20-13.11.25 | 1 500 000.00 | 1 511 550.00 | 0.31 |
| USD	GE CAPITAL INTL FUNDING CO 3.37300% 16-15.11.25 | 4 000 000.00 | 4 388 346.00 | 0.89 |
| USD	GENERAL MOTORS CO 5.00000% 14-01.04.35 | 1 000 000.00 | 1 198 618.10 | 0.24 |
| USD	GENERAL MOTORS FINANCIAL CO INC 4.00000% 16-06.10.26 | 2 250 000.00 | 2 514 128.40 | 0.51 |
| USD	GENERAL MOTORS FINANCIAL CO 3.85000% 18-05.01.28 | 1 000 000.00 | 1 114 305.60 | 0.23 |
| USD	GEORGIA POWER CO 3.70000% 20-30.01.50 | 2 000 000.00 | 2 418 766.80 | 0.49 |
| USD	GILEAD SCIENCES INC 2.60000% 20-01.10.40 | 2 000 000.00 | 2 030 861.20 | 0.41 |
| USD	GOLDMAN SACHS GROUP INC-SUB 6.75000% 07-01.10.37 | 1 750 000.00 | 2 681 467.25 | 0.54 |
| USD	GOLDMAN SACHS GROUP INC 2.60000% 20-07.02.30 | 1 000 000.00 | 1 081 146.10 | 0.22 |
| USD	GOLDMAN SACHS GROUP INC 3.80000% 20-15.03.30 | 1 000 000.00 | 1 171 367.60 | 0.24 |
| USD	GOLDMAN SACHS GROUP INC/THE 3.50000% 16-16.11.26 | 1 000 000.00 | 1 121 247.80 | 0.23 |
| USD	HCA INC 4.75000% 12-01.05.23 | 1 087 000.00 | 1 187 779.47 | 0.24 |
| USD	HCA INC 5.25000% 19-15.06.49 | 1 750 000.00 | 2 316 037.50 | 0.47 |
| USD	HOME DEPOT INC/THE 4.20000% 13-01.04.43 | 1 590 000.00 | 2 079 043.46 | 0.42 |
| USD	HSBC HOLDINGS PLC-SUB 4.37500% 16-23.11.26 | 2 250 000.00 | 2 572 409.25 | 0.52 |
| USD	INTEL CORP 4.60000% 20-25.03.40 | 1 000 000.00 | 1 344 758.11 | 0.27 |
| USD	INTERCONTINENTAL EXCHANGE INC 3.00000% 20-15.06.50 | 1 825 000.00 | 1 973 329.98 | 0.40 |
| USD	INTERNATIONAL BUSINESS MACHINES CORP 4.25000% 19-15.05.49 | 2 000 000.00 | 2 659 265.40 | 0.54 |
| USD	INTERNATIONAL LEASE FINANCE CORP 5.87500% 12-15.08.22 | 1 500 000.00 | 1 615 150.80 | 0.33 |
| USD	JPMORGAN CHASE & CO-SUB 3.87500% 14-10.09.24 | 3 500 000.00 | 3 904 022.85 | 0.79 |
| USD	KINROSS GOLD CORP 5.95000% 14-15.03.24 | 3 500 000.00 | 3 996 340.60 | 0.81 |
| USD	KROGER CO 3.87500% 16-15.10.46 | 1 000 000.00 | 1 176 440.80 | 0.24 |
| USD	LENNOX INTERNATIONAL INC 1.70000% 20-01.08.27 | 2 000 000.00 | 2 020 415.00 | 0.41 |
| USD	LINCOLN NATIONAL CORP 4.35000% 18-01.03.48 | 1 000 000.00 | 1 224 076.10 | 0.25 |
| USD	LOWE’S COS INC 3.70000% 16-15.04.46 | 2 000 000.00 | 2 350 106.00 | 0.48 |
| USD	MARATHON OIL CORP 3.85000% 15-01.06.25 | 2 000 000.00 | 2 104 659.40 | 0.43 |
| USD	MASCO CORP 4.50000% 17-15.05.47 | 2 750 000.00 | 3 451 557.45 | 0.70 |
| USD	MERCK & CO INC 2.35000% 20-24.06.40 | 1 500 000.00 | 1 567 617.15 | 0.32 |
| USD	MICROSOFT CORP 3.70000% 16-08.08.46 | 5 000 000.00 | 6 439 482.50 | 1.31 |
| USD	MITSUBISHI UFJ FINANCIAL GRP INC 2.19300% 20-25.02.25 | 2 000 000.00 | 2 100 040.00 | 0.43 |
| USD	MPLX LP 2.65000% 20-15.08.30 | 1 000 000.00 | 1 012 536.70 | 0.21 |
| USD	MPLX LP 4.87500% 16-01.12.24 | 2 500 000.00 | 2 832 838.25 | 0.57 |
| USD	NATWEST GROUP PLC 4.80000% 16-05.04.26 | 2 000 000.00 | 2 338 002.40 | 0.47 |

UBS (Lux) Bond SICAV – USD Corporates (USD) Rapport semestriel au 30 novembre 2020
|  | 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 | NOBLE ENERGY INC 3.90000% 14-15.11.24 | 926 000.00 | 1 032 124.32 | 0.21 |
| USD | NORFOLK SOUTHERN CORP 4.10000% 19-15.05.49 | 2 000 000.00 | 2 565 305.60 | 0.52 |
| USD | NUCOR CORP 2.00000% 20-01.06.25 | 1 000 000.00 | 1 050 574.10 | 0.21 |
| USD | NVIDIA CORP 2.85000% 20-01.04.30 | 1 000 000.00 | 1 120 572.20 | 0.23 |
| USD | OCCIDENTAL PETROLEUM CORP 2.90000% 19-15.08.24 | 2 500 000.00 | 2 331 250.00 | 0.47 |
| USD | ORACLE CORP 2.80000% 20-01.04.27 | 2 500 000.00 | 2 753 075.00 | 0.56 |
| USD | ORACLE CORP 3.60000% 20-01.04.40 | 3 000 000.00 | 3 495 559.51 | 0.71 |
| USD | PAYPAL HOLDINGS INC 2.30000% 20-01.06.30 | 2 000 000.00 | 2 148 733.80 | 0.44 |
| USD | PIONEER NATURAL RESOURCES CO 1.90000% 20-15.08.30 | 1 000 000.00 | 983 635.22 | 0.20 |
| USD | PLAINS ALL AMERICAN PIPELINE LP 3.80000% 20-15.09.30 | 1 000 000.00 | 1 041 848.10 | 0.21 |
| USD | PRUDENTIAL FINANCIAL INC 3.93500% 18-07.12.49 | 2 396 000.00 | 2 913 507.96 | 0.59 |
| USD | PUBLIC STORAGE 3.09400% 17-15.09.27 | 2 500 000.00 | 2 804 586.00 | 0.57 |
| USD | QUALCOMM INC 4.30000% 17-20.05.47 | 500 000.00 | 675 325.44 | 0.14 |
| USD | QUANTA SERVICES INC 2.90000% 20-01.10.30 | 2 000 000.00 | 2 140 420.60 | 0.43 |
| USD | RABOBANK NEDERLAND NV-SUB 3.75000% 16-21.07.26 | 1 000 000.00 | 1 125 229.90 | 0.23 |
| USD | RABOBANK NEDERLAND-SUB 4.62500% 13-01.12.23 | 2 250 000.00 | 2 504 353.95 | 0.51 |
| USD | ROPER TECHNOLOGIES INC 2.00000% 20-30.06.30 | 1 000 000.00 | 1 027 954.10 | 0.21 |
| USD | SABINE PASS LIQUEFACTION LLC 5.00000% 17-15.03.27 | 1 750 000.00 | 2 026 634.57 | 0.41 |
| USD | SEAGATE HDD CAYMAN 5.75000% 15-01.12.34 | 1 800 000.00 | 2 123 494.38 | 0.43 |
| USD | SHELL INTERNATIONAL FINANCE BV 4.00000% 16-10.05.46 | 2 000 000.00 | 2 476 628.00 | 0.50 |
| USD | SHERWIN-WILLIAMS CO 4.50000% 17-01.06.47 | 1 500 000.00 | 1 996 321.20 | 0.41 |
| USD | SOUTHWEST AIRLINES CO 3.45000% 17-16.11.27 | 5 000 000.00 | 5 292 687.50 | 1.07 |
| USD | SPECTRA ENERGY PARTNERS LP 4.50000% 15-15.03.45 | 1 000 000.00 | 1 144 549.60 | 0.23 |
| USD | STEEL DYNAMICS INC 5.00000% 17-15.12.26 | 3 000 000.00 | 3 201 972.30 | 0.65 |
| USD | SYSCO CORP 5.65000% 20-01.04.25 | 2 000 000.00 | 2 383 946.20 | 0.48 |
| USD | T-MOBILE USA INC 5.12500% 17-15.04.25 | 2 000 000.00 | 2 051 900.00 | 0.42 |
| USD | T-MOBILE USA INC 5.37500% 17-15.04.27 | 1 000 000.00 | 1 070 000.00 | 0.22 |
| USD | TELEFONICA EMISIONES SA 5.52000% 19-01.03.49 | 1 000 000.00 | 1 335 210.10 | 0.27 |
| USD | THE HERSHEY CO 3.12500% 19-15.11.49 | 2 150 000.00 | 2 445 561.14 | 0.50 |
| USD | TIME WARNER CABLE LLC 7.30000% 08-01.07.38 | 1 000 000.00 | 1 470 214.30 | 0.30 |
| USD | TOLL BROTHERS FINANCE CORP 4.87500% 15-15.11.25 | 1 250 000.00 | 1 410 937.50 | 0.29 |
| USD | TRANSCANADA PIPELINES LTD 4.10000% 20-15.04.30 | 2 000 000.00 | 2 334 311.40 | 0.47 |
| USD | TRUIST BANK-SUB 3.30000% 16-15.05.26 | 2 000 000.00 | 2 237 109.20 | 0.45 |
| USD | UNION PACIFIC CORP 3.60000% 17-15.09.37 | 2 000 000.00 | 2 348 937.40 | 0.48 |
| USD | UNITED RENTALS NORTH AMERICA INC 4.00000% 20-15.07.30 | 2 000 000.00 | 2 105 000.00 | 0.43 |
| USD | UNITEDHEALTH GROUP INC 3.95000% 12-15.10.42 | 1 156 000.00 | 1 460 909.57 | 0.30 |
| USD | VALE OVERSEAS LTD 3.75000% 20-08.07.30 | 1 000 000.00 | 1 097 700.00 | 0.22 |
| USD | VERIZON COMMUNICATIONS INC 5.01200% 17-15.04.49 | 244 000.00 | 345 732.51 | 0.07 |
| USD | VIRGINIA ELECTRIC & POWER CO 4.60000% 18-01.12.48 | 2 000 000.00 | 2 884 804.19 | 0.59 |
| USD | VISA INC 2.00000% 20-15.08.50 | 2 000 000.00 | 1 910 254.82 | 0.39 |
| USD | VODAFONE GROUP PLC 4.87500% 19-19.06.49 | 1 000 000.00 | 1 309 746.90 | 0.27 |
| USD | WELLS FARGO & CO-SUB 4.12500% 13-15.08.23 | 2 500 000.00 | 2 730 209.50 | 0.55 |
| USD | WESTERN MIDSTREAM OPERATING LP 5.37500% 11-01.06.21 | 2 112 000.00 | 2 127 840.00 | 0.43 |
| Total USD |  |  | 293 627 242.95 | 59.60 |
| Total des Billets, taux fixe |  | 293 627 242.95 | 59.60 |
| Billets, taux variable |  |  |  |
| USD |  |  |  |
| USD	GOLDMAN SACHS GROUP INC 2.908%/VAR 17-05.06.23 | 2 000 000.00 | 2 074 179.20 | 0.42 |
| USD	HSBC HOLDINGS PLC 2.099%/VAR 20-04.06.26 | 2 500 000.00 | 2 578 804.50 | 0.52 |
| USD	JPMORGAN CHASE &CO 3.109%/VAR 20-22.04.51 | 1 500 000.00 | 1 675 845.45 | 0.34 |
| USD	MORGAN STANLEY 5.597%/VAR 20-24.03.51 | 2 000 000.00 | 3 222 469.60 | 0.65 |
| USD	WELLS FARGO & CO 2.188%/VAR 20-30.04.26 | 1 500 000.00 | 1 570 135.35 | 0.32 |
| USD	WESTPAC BANKING CORP-SUB 2.668%/VAR 20-15.11.35 | 2 000 000.00 | 2 045 280.00 | 0.42 |
| Total USD |  | 13 166 714.10 | 2.67 |
| Total des Billets, taux variable |  | 13 166 714.10 | 2.67 |
| Medium-Term Notes, taux fixe |  |  |  |
| USD |  |  |  |
| USD	AIR LEASE CORP 3.00000% 20-01.02.30 | 1 000 000.00 | 1 002 319.60 | 0.20 |
| USD	BANK OF AMERICA CORP-SUB 4.20000% 14-26.08.24 | 7 000 000.00 | 7 836 675.00 | 1.59 |
| USD	BANK OF AMERICA CORP-SUB 4.18300% 16-25.11.27 | 5 000 000.00 | 5 778 389.00 | 1.17 |
| USD	FORD MOTOR CREDIT CO LLC 4.38900% 16-08.01.26 | 750 000.00 | 780 000.00 | 0.16 |
| USD	MCDONALD’S CORP 4.45000% 17-01.03.47 | 2 000 000.00 | 2 589 733.60 | 0.53 |
| USD	MORGAN STANLEY-SUB 4.10000% 13-22.05.23 | 2 500 000.00 | 2 707 043.00 | 0.55 |
| USD	PUBLIC SERVICE ELECTRIC & GAS CO 3.15000% 20-01.01.50 | 3 000 000.00 | 3 456 962.10 | 0.70 |
| USD	SAUDI ARABIAN OIL CO-144A 4.37500% 19-16.04.49 | 2 000 000.00 | 2 424 022.60 | 0.49 |
| Total USD |  | 26 575 144.90 | 5.39 |
| Total des Medium-Term Notes, taux fixe |  | 26 575 144.90 | 5.39 |
| Medium-Term Notes, taux variable |  |  |  |
| USD |  |  |  |
| USD	BANK OF AMERICA CORP 2.496%/3M LIBOR+99BP 20-13.02.31 | 1 000 000.00 | 1 054 729.70 | 0.22 |
| USD	BANK OF AMERICA CORP 2.676%/VAR 20-19.06.41 | 750 000.00 | 781 913.63 | 0.16 |
| USD	MORGAN STANLEY 3.622%/VAR 20-01.04.31 | 2 000 000.00 | 2 330 375.00 | 0.47 |
| USD	WELLS FARGO & CO 2.879%/VAR 19-30.10.30 | 2 000 000.00 | 2 174 117.80 | 0.44 |
| Total USD |  | 6 341 136.13 | 1.29 |
| Total des Medium-Term Notes, taux variable |  | 6 341 136.13 | 1.29 |
| Obligations, taux fixe |  |  |  |
| USD |  |  |  |
| USD	BALTIMORE GAS & ELECTRIC CO 3.50000% 16-15.08.46 | 1 250 000.00 | 1 460 316.12 | 0.30 |
| USD	BURLINGTON NORTHERN SANTA FE LLC 4.05000% 18-15.06.48 | 2 000 000.00 | 2 687 438.00 | 0.55 |
| USD	CONSOLIDATED EDISON CO OF NEW YORK INC 4.65000% 18-01.12.48 | 1 500 000.00 | 2 024 086.35 | 0.41 |
| USD	DUKE ENERGY CAROLINAS LLC 6.05000% 08-15.04.38 | 925 000.00 | 1 399 024.39 | 0.28 |
| USD	DUKE ENERGY OHIO INC 4.30000% 19-01.02.49 | 3 000 000.00 | 3 960 432.90 | 0.80 |
| USD	EL PASO NATURAL GAS CO 8.37500% 03-15.06.32 | 1 050 000.00 | 1 483 865.67 | 0.30 |
| USD	ENERGY TRANSFER OPERATING LP 4.25000% 19-15.03.23 | 2 500 000.00 | 2 631 586.50 | 0.54 |
| USD	ENTERPRISE PRODUCTS OPERATING LP 6.87500% 03-01.03.33 | 900 000.00 | 1 234 599.93 | 0.25 |

UBS (Lux) Bond SICAV – USD Corporates (USD) Rapport semestriel au 30 novembre 2020
|  | 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 | RABOBANK NEDERLAND NV-SUB 3.95000% 12-09.11.22 | 1 250 000.00 | 1 330 037.75 | 0.27 |
| USD | SAN DIEGO GAS & ELECTRIC CO 4.10000% 19-15.06.49 | 1 000 000.00 | 1 254 231.40 | 0.26 |
| USD | SOUTHERN CALIFORNIA EDISON CO 3.65000% 20-01.02.50 | 4 250 000.00 | 4 943 634.00 | 1.00 |
| USD | TIME WARNER ENTERTAINMENT CO L P 8.37500% 93-15.03.23 | 1 300 000.00 | 1 532 227.71 | 0.31 |
| Total USD |  |  | 25 941 480.72 | 5.27 |
| Total des Obligations, taux fixe |  | 25 941 480.72 | 5.27 |
| Obligations, taux variable |  |  |  |
| USD |  |  |  |
| USD	BP CAPITAL MARKETS PLC-SUB 4.875%/VAR 20-PRP | 2 000 000.00 | 2 205 600.00 | 0.45 |
| USD	DEUTSCHE TELEKOM INTL FIN 8.250%/RATING LINKED 00-15.06.30 | 2 750 000.00 | 4 365 166.57 | 0.88 |
| Total USD |  | 6 570 766.57 | 1.33 |
| Total des Obligations, taux variable |  | 6 570 766.57 | 1.33 |
| Total des Titres et instruments du marché monétaire négociés sur une bourse officielle |  | 372 222 485.37 | 75.55 |
| Titres et instruments du marché monétaire négociés sur un autre marché réglementé |  |  |  |
| Titres adossés à des hypothèques, taux variable |  |  |  |
| USD |  |  |  |
| USD	CG-CCRE CMCL MRTG TRUST-144A-SUB 1M LIBOR+175BP 14-15.06.31 | 2 375 000.00 | 2 127 073.75 | 0.43 |
| Total USD |  | 2 127 073.75 | 0.43 |
| Total des Titres adossés à des hypothèques, taux variable |  | 2 127 073.75 | 0.43 |
| Billets, taux fixe |  |  |  |
| USD |  |  |  |
| USD	AKER BP ASA-144A 3.00000% 20-15.01.25 | 2 675 000.00 | 2 720 383.78 | 0.55 |
| USD	BROADCOM INC 4.11000% 20-15.09.28 | 2 124 000.00 | 2 433 125.69 | 0.50 |
| USD	CENTENE CORP 3.37500% 20-15.02.30 | 2 500 000.00 | 2 620 300.00 | 0.53 |
| USD	GE CAPITAL FUNDING LLC-144A 3.45000% 20-15.05.25 | 2 000 000.00 | 2 173 590.80 | 0.44 |
| USD	GE CAPITAL FUNDING LLC-144A 4.05000% 20-15.05.27 | 1 000 000.00 | 1 124 327.70 | 0.23 |
| USD	GENERAL MOTORS FINANCIAL CO INC 4.25000% 14-15.05.23 | 2 000 000.00 | 2 154 627.80 | 0.44 |
| USD	GLENCORE FUNDING LLC-144A 4.12500% 19-12.03.24 | 1 500 000.00 | 1 634 392.50 | 0.33 |
| USD	GLP CAPITAL LP / GLP FINANC II INC 5.37500% 14-01.11.23 | 500 000.00 | 538 830.00 | 0.11 |
| USD	HARLEY-DAVIDSON FIN.SERV INC-144A 3.35000% 18-15.02.23 | 2 500 000.00 | 2 595 705.25 | 0.53 |
| USD	HCA INC 5.00000% 14-15.03.24 | 2 250 000.00 | 2 530 584.90 | 0.51 |
| USD	JPMORGAN CHASE & CO-SUB 3.62500% 16-01.12.27 | 8 000 000.00 | 9 073 499.20 | 1.84 |
| USD	KINDER MORGAN INC-144A 5.62500% 13-15.11.23 | 4 000 000.00 | 4 521 169.20 | 0.92 |
| USD	KKR GROUP FINANCE CO II LLC-144A 5.50000% 13-01.02.43 | 1 150 000.00 | 1 536 095.48 | 0.31 |
| USD	LEVEL 3 FINANCING INC-144A 3.87500% 19-15.11.29 | 2 500 000.00 | 2 744 212.50 | 0.56 |
| USD	MERCK & CO INC 3.70000% 15-10.02.45 | 1 380 000.00 | 1 738 403.80 | 0.35 |
| USD	MORGAN STANLEY 3.70000% 14-23.10.24 | 4 000 000.00 | 4 447 015.20 | 0.90 |
| USD	MORGAN STANLEY 3.87500% 14-29.04.24 | 3 500 000.00 | 3 870 072.85 | 0.79 |
| USD	NORDEA BANK ABP-144A-SUB 4.25000% 12-21.09.22 | 3 060 000.00 | 3 252 199.52 | 0.66 |
| USD	NOVA CHEMICALS CORP-144A 5.25000% 17-01.06.27 | 955 000.00 | 995 539.75 | 0.20 |
| USD	NRG ENERGY INC-144A 3.75000% 19-15.06.24 | 425 000.00 | 457 410.16 | 0.09 |
| USD	NXP BV / NXP FUNDING LLC-144A 5.55000% 18-01.12.28 | 6 000 000.00 | 7 550 921.40 | 1.53 |
| USD	PPL CAPITAL FUNDING INC 4.70000% 13-01.06.43 | 2 000 000.00 | 2 493 950.00 | 0.51 |
| USD	PRINCIPAL FINANCIAL GROUP INC 2.12500% 20-15.06.30 | 1 000 000.00 | 1 043 376.90 | 0.21 |
| USD	SOCIETE GENERALE SA-144A 4.00000% 17-12.01.27 | 3 000 000.00 | 3 367 955.40 | 0.68 |
| USD	TECK RESOURCES LTD 6.12500% 05-01.10.35 | 1 000 000.00 | 1 262 692.60 | 0.26 |
| USD	UNITED TECHNOLOGIES CORP 4.50000% 12-01.06.42 | 3 000 000.00 | 3 967 620.00 | 0.81 |
| USD	UPJOHN INC-144A 1.65000% 20-22.06.25 | 1 000 000.00 | 1 030 120.00 | 0.21 |
| USD	VERIZON COMMUNICATIONS INC-144A 2.98700% 20-30.10.56 | 2 605 000.00 | 2 759 330.10 | 0.56 |
| USD	VOLKSWAGEN GRP OF AMERICA FINANCE-144A 4.62500% 18-13.11.25 | 1 500 000.00 | 1 741 930.20 | 0.35 |
| Total USD |  | 78 379 382.68 | 15.91 |
| Total des Billets, taux fixe |  | 78 379 382.68 | 15.91 |
| Medium-Term Notes, taux fixe |  |  |  |
| USD |  |  |  |
| USD	INTESA SANPAOLO SPA-144A 6.50000% 11-24.02.21 | 5 000 000.00 | 5 061 999.00 | 1.03 |
| Total USD |  | 5 061 999.00 | 1.03 |
| Total des Medium-Term Notes, taux fixe |  | 5 061 999.00 | 1.03 |
| Medium-Term Notes, taux variable |  |  |  |
| USD |  |  |  |
| USD	NATIONAL AUSTRALIA BANK LTD-144A-SUB 3.933%/VAR 19-02.08.34 | 2 000 000.00 | 2 240 480.40 | 0.45 |
| Total USD |  | 2 240 480.40 | 0.45 |
| Total des Medium-Term Notes, taux variable |  | 2 240 480.40 | 0.45 |
| Obligations, taux fixe |  |  |  |
| USD |  |  |  |
| USD	NEVADA POWER CO 6.65000% 06-01.04.36 | 1 174 000.00 | 1 761 054.24 | 0.36 |
| USD	NGPL PIPECO LLC-144A 4.87500% 17-15.08.27 | 2 500 000.00 | 2 795 237.25 | 0.57 |
| USD	PACIFIC GAS & ELECTRIC CO 3.45000% 20-01.07.25 | 2 500 000.00 | 2 692 168.75 | 0.54 |
| Total USD |  | 7 248 460.24 | 1.47 |
| Total des Obligations, taux fixe |  | 7 248 460.24 | 1.47 |
| Total des Titres et instruments du marché monétaire négociés sur un autre marché réglementé |  | 95 057 396.07 | 19.29 |

UBS (Lux) Bond SICAV – USD Corporates (USD) Rapport semestriel au 30 novembre 2020
| 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 non négociés sur une bourse officielle ou un autre marché réglementé
Billets, taux fixe
| USD |  |
| --- | --- |
| USD | FOX CORP 4.70900% 20-25.01.29 | 2 000 000.00 | 2 419 914.60 | 0.49 |
| USD | TECK RESOURCES LTD 3.90000% 20-15.07.30 | 1 000 000.00 | 1 091 101.00 | 0.23 |
| Total USD |  |  | 3 511 015.60 | 0.72 |
| Total des Billets, taux fixe |  | 3 511 015.60 | 0.72 |
| Obligations, taux fixe |  |  |  |
| USD |  |  |  |
| USD	DUKE UNIVERSITY 2.68200% 20-01.10.44 | 1 500 000.00 | 1 590 522.30 | 0.32 |
| Total USD |  | 1 590 522.30 | 0.32 |
| Total des Obligations, taux fixe |  | 1 590 522.30 | 0.32 |
| Total des Titres et instruments du marché monétaire non négociés sur une bourse officielle ou un autre marché réglementé |  | 5 101 537.90 | 1.04 |
| Nouvelles émissions de titres et instruments du marché monétaire |  |  |  |
| Billets, taux fixe |  |  |  |
| USD |  |  |  |
| USD	AES CORP-144A 1.37500% 20-15.01.26 | 2 500 000.00 | 2 521 071.50 | 0.51 |
| USD	AUSTRALIA & NEW ZEALAND BANK-144A-SUB 2.57000% 20-25.11.35 | 2 250 000.00 | 2 288 102.17 | 0.47 |
| USD	CARRIER GLOBAL CORP-144A 2.49300% 20-15.02.27 | 2 000 000.00 | 2 136 287.20 | 0.43 |
| USD	GE CAPITAL FUNDING LLC-144A 4.55000% 20-15.05.32 | 2 000 000.00 | 2 312 361.80 | 0.47 |
| USD	GRAPHIC PACKAGING INTERNATIONL INC-144A 3.50000% 20-15.03.28 | 1 000 000.00 | 1 042 210.00 | 0.21 |
| USD	UPJOHN INC-144A 4.00000% 20-22.06.50 | 2 000 000.00 | 2 282 040.40 | 0.46 |
| Total USD |  | 12 582 073.07 | 2.55 |
| Total des Billets, taux fixe |  | 12 582 073.07 | 2.55 |
| Billets, taux variable |  |  |  |
| USD |  |  |  |
| USD	BNP PARIBAS-144A 3.052%/VAR 20-13.01.31 | 4 000 000.00 | 4 342 415.60 | 0.88 |
| Total USD |  | 4 342 415.60 | 0.88 |
| Total des Billets, taux variable |  | 4 342 415.60 | 0.88 |
| Total des Nouvelles émissions de titres et instruments du marché monétaire |  | 16 924 488.67 | 3.43 |

OPCVM/Autres OPC au sens de l’article 41 (1) e) de la loi luxembourgeoise du 17 décembre 2010, telle que modifiée
Fonds d’investissement, ouvert
Luxembourg
| USD | UBS (LUX) BOND SICAV - MULTI INCOME (USD) U-X-ACC | 270.00 | 2 828 150.10 | 0.57 |
| --- | --- | --- | --- | --- |
| Total Luxembourg | 2 828 150.10 | 0.57 |
| Total des Fonds d’investissement, ouvert | 2 828 150.10 | 0.57 |
| Total des OPCVM/Autres OPC au sens de l’article 41 (1) e) de la loi luxembourgeoise du 17 décembre 2010, telle que modifiée | 2 828 150.10 | 0.57 |
| Total du Portefeuille-titres | 492 134 058.11 | 99.88 |

| Instruments dérivés |  |
| --- | --- |
| Instruments dérivés négociés sur une bourse officielle |
| Contrats financiers à terme sur obligations |
|  |  |  |  |
| USD	US ULTRA LONG BOND (CBT) FUTURE 22.03.21 | -60.00 | -93 656.25 | -0.02 |
| USD	US 10YR TREASURY NOTE FUTURE 22.03.21 | -25.00 | -8 984.38 | 0.00 |
| Total des Contrats financiers à terme sur obligations |  | -102 640.63 | -0.02 |
| Total des Instruments dérivés négociés sur une bourse officielle |  | -102 640.63 | -0.02 |
| Total des Instruments dérivés |  | -102 640.63 | -0.02 |
| Contrats de change à terme |  |  |  |
| Devise achetée/Montant acheté/Devise vendue/Montant vendu/Date de maturité |  |  |  |

| CHF | 18 657 200.00 | USD | 20 504 558.17 | 21.1.2021 | 143 911.39 | 0.03 |
| --- | --- | --- | --- | --- | --- | --- |
| EUR | 15 442 400.00 | USD | 18 383 281.54 | 21.1.2021 | 117 736.50 | 0.02 |
| USD | 389 579.76 | CHF | 353 500.00 | 21.1.2021 | -1 649.04 | 0.00 |
| Total des Contrats de change à terme | 259 998.85 | 0.05 |
|  |  |  |
| Avoirs en banque, dépôts à vue et à terme et autres liquidités | 1 152 985.95 | 0.23 |
| Crédit en compte courant et autres engagements à court terme | -4 267 523.30 | -0.87 |
| Autres actifs et passifs | 3 528 869.72 | 0.73 |
| Total de l’Actif net | 492 705 748.70 | 100.00 |

UBS (Lux) Bond SICAV – USD Corporates (USD) Rapport semestriel au 30 novembre 2020