# UBS (Lux) Equity Fund
– Global Sustainable Improvers (USD)
| Most important figures |  |
| --- | --- |
|  | ISIN | 31.5.2022 | 30.11.2021 |
| Net assets in USD |  | 564 249 519.28 | 638 841 033.51 |
| Class P-acc 1 | LU2388907649 |  |  |
| Units outstanding |  | 100.0000 | 100.0000 |
| Net asset value per unit in USD |  | 87.04 | 99.00 |
| Issue and redemption price per unit in USD 2 |  | 87.04 | 99.00 |
| Class Q-acc 1 | LU2388907722 |  |  |
| Units outstanding |  | 100.0000 | 100.0000 |
| Net asset value per unit in USD |  | 87.42 | 99.06 |
| Issue and redemption price per unit in USD 2 |  | 87.42 | 99.06 |
| Class U-X-acc 1 | LU2391792749 |  |  |
| Units outstanding |  | 64 184.0000 | 64 430.0000 |
| Net asset value per unit in USD |  | 8 790.85 | 9 914.97 |
| Issue and redemption price per unit in USD 2 |  | 8 790.85 | 9 914.97 |
| 1  First NAV: 29.10.2021 2  See note 1 |  |  |  |


## Structure of the Securities Portfolio
Geographical Breakdown as a % of net assets	
| United States | 66.09 |
| --- | --- |
| Japan | 7.58 |
| Ireland | 4.18 |
| Italy | 3.74 |
| Norway | 2.91 |
| The Netherlands | 2.53 |
| Switzerland | 2.28 |
| United Kingdom | 2.22 |
| China | 1.84 |
| France | 1.66 |
| Sweden | 1.28 |
| Iceland | 0.77 |
| Total | 97.08 |

Economic Breakdown as a % of net assets	
| Internet, software & IT services | 17.16 |
| --- | --- |
| Finance & holding companies | 14.27 |
| Mechanical engineering & industrial equipment | 9.41 |
| Pharmaceuticals, cosmetics & medical products | 6.89 |
| Electronics & semiconductors | 6.05 |
| Banks & credit institutions | 5.83 |
| Petroleum | 4.75 |
| Retail trade, department stores | 4.75 |
| Food & soft drinks | 4.45 |
| Energy & water supply | 4.43 |
| Insurance | 4.19 |
| Computer hardware & network equipment providers | 4.12 |
| Textiles, garments & leather goods | 3.26 |
| Healthcare & social services | 2.10 |
| Miscellaneous services | 1.31 |
| Building industry & materials | 1.31 |
| Rubber & tyres | 1.28 |
| Miscellaneous unclassified companies | 1.04 |
| Traffic & transportation | 0.48 |
| Total | 97.08 |

UBS (Lux) Equity Fund – Global Sustainable Improvers (USD)
Semi-Annual Report as of 31 May 2022

## Statement of Net Assets
Assets	31.5.2022
USD
Investments in securities, cost	628 315 444.98
| Investments in securities, unrealized appreciation (depreciation) | 	-80 557 277.56	 |
| --- | --- |
| Total investments in securities (Note 1) | 547 758 167.42 |
| Cash at banks, deposits on demand and deposit accounts | 12 767 449.32 |
| Receivable on securities sales (Note 1) | 2 237 338.56 |
| Receivable on subscriptions | 8 110 815.56 |
| Receivable on dividends | 631 449.46 |
| Prepaid expenses | 17 829.62 |
| Other receivables | 126 248.76 |
| Total Assets | 571 649 298.70 |
|  |  |
| Liabilities |  |
| Payable on securities purchases (Note 1) | -7 376 165.16 |
| Provisions for flat fee (Note 2) | -18.17 |
| Provisions for taxe d’abonnement (Note 3) | -9 457.01 |
| Provisions for other commissions and fees (Note 2) | 	-14 139.08	 |
| Total provisions | -23 614.26 |
| Total Liabilities | -7 399 779.42 |
|  |  |
| Net assets at the end of the period | 564 249 519.28 |
| Statement of Operations | USD |
| Income | 1.12.2021-31.5.2022 |
| Interest on liquid assets | 14.04 |
| Dividends | 3 219 803.08 |
| Net income on securities lending (Note 10) | 16 598.87 |
| Other income (Note 4) | 68 289.06 |
| Total income | 3 304 705.05 |
|  |  |
| Expenses |  |
| Flat fee (Note 2) | -119.54 |
| Taxe d’abonnement (Note 3) | -30 176.48 |
| Other commissions and fees (Note 2) | -17 438.99 |
| Interest on cash and bank overdraft | -1 607.07 |
| Total expenses | -49 342.08 |
|  |  |
| Net income (loss) on investments | 3 255 362.97 |
|  |  |
| Realized gain (loss) (Note 1) |  |
| Realized gain (loss) on market-priced securities without options | -22 002 865.62 |
| Realized gain (loss) on financial futures | 431 224.74 |
| Realized gain (loss) on forward foreign exchange contracts | -141.34 |
| Realized gain (loss) on foreign exchange | -145 282.53 |
| Total realized gain (loss) | -21 717 064.75 |
|  |  |
| Net realized gain (loss) of the period | -18 461 701.78 |
|  |  |
| Changes in unrealized appreciation (depreciation) (Note 1) |  |
| Unrealized appreciation (depreciation) on market-priced securities without options | -52 799 720.86 |
| Unrealized appreciation (depreciation) on financial futures | 302 950.00 |
| Total changes in unrealized appreciation (depreciation) | -52 496 770.86 |
|  |  |
| Net increase (decrease) in net assets as a result of operations | -70 958 472.64 |

UBS (Lux) Equity Fund – Global Sustainable Improvers (USD) Semi-Annual Report as of 31 May 2022
| Statement of Changes in Net Assets |  |
| --- | --- |
|  | USD |
|  | 1.12.2021-31.5.2022 |
| Net assets at the beginning of the period | 638 841 033.51 |
| Subscriptions | 45 164 616.15 |
| Redemptions | 	-48 797 657.74	 |
| Total net subscriptions (redemptions) | -3 633 041.59 |
| Net income (loss) on investments | 3 255 362.97 |
| Total realized gain (loss) | -21 717 064.75 |
| Total changes in unrealized appreciation (depreciation) | 	-52 496 770.86	 |
| Net increase (decrease) in net assets as a result of operations | -70 958 472.64 |
| Net assets at the end of the period | 564 249 519.28 |
| Development of the outstanding units |  |
|  | 1.12.2021-31.5.2022 |
| Class | P-acc |
| Number of units outstanding at the beginning of the period | 100.0000 |
| Number of units issued | 0.0000 |
| Number of units redeemed | 0.0000 |
| Number of units outstanding at the end of the period | 100.0000 |
| Class | Q-acc |
| Number of units outstanding at the beginning of the period | 100.0000 |
| Number of units issued | 0.0000 |
| Number of units redeemed | 0.0000 |
| Number of units outstanding at the end of the period | 100.0000 |
| Class | U-X-acc |
| Number of units outstanding at the beginning of the period | 64 430.0000 |
| Number of units issued | 4 905.0000 |
| Number of units redeemed | -5 151.0000 |
| Number of units outstanding at the end of the period | 64 184.0000 |

UBS (Lux) Equity Fund – Global Sustainable Improvers (USD)
Semi-Annual Report as of 31 May 2022

## Statement of Investments in Securities and other Net Assets as of 31 May 2022
| 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 |  |  |  |
| Equities |  |  |  |
| China |  |  |  |
| HKD	MEITUAN USD0.00001 (A & B CLASS) | 436 400.00 | 10 401 667.18 | 1.84 |
| Total China |  | 10 401 667.18 | 1.84 |
| France |  |  |  |
| EUR	UBISOFT ENTERTAIN EUR0.31 | 179 074.00 | 9 351 859.85 | 1.66 |
| Total France |  | 9 351 859.85 | 1.66 |
| Iceland |  |  |  |
| EUR	MAREL HF ISK1 | 928 852.00 | 4 328 392.27 | 0.77 |
| Total Iceland |  | 4 328 392.27 | 0.77 |
| Ireland |  |  |  |
| EUR	AIB GROUP PLC ORD EUR0.625 | 3 262 257.00 | 8 736 732.03 | 1.55 |
| GBP	DCC ORD EUR0.25 | 104 992.00 | 7 423 231.53 | 1.31 |
| USD	MEDTRONIC PLC USD0.0001 | 74 300.00 | 7 441 145.00 | 1.32 |
| Total Ireland |  | 23 601 108.56 | 4.18 |
| Italy |  |  |  |
| EUR	HERA EUR1 | 3 240 510.00 | 12 028 388.31 | 2.13 |
| HKD	PRADA SPA EUR0.1 | 1 473 600.00 | 9 100 180.35 | 1.61 |
| Total Italy |  | 21 128 568.66 | 3.74 |
| Japan |  |  |  |
| JPY	JTOWER INC NPV | 173 100.00 | 8 329 037.27 | 1.48 |
| JPY	KEYENCE CORP NPV | 13 300.00 | 5 333 646.85 | 0.95 |
| JPY	NEC CORP NPV | 230 500.00 | 9 335 030.50 | 1.65 |
| JPY	OBIC BUSINESS CONS NPV | 241 800.00 | 8 401 772.31 | 1.49 |
| JPY	SOFTBANK GROUP CO NPV | 271 600.00 | 11 356 340.31 | 2.01 |
| Total Japan |  | 42 755 827.24 | 7.58 |
| The Netherlands |  |  |  |
| EUR	KONINKLIJKE PHILIPS NV EUR0.20 | 317 736.00 | 8 165 588.82 | 1.45 |
| EUR	OCI N.V. EUR0.02 | 167 157.00 | 5 873 395.51 | 1.04 |
| Total The Netherlands |  | 14 038 984.33 | 2.49 |
| Norway |  |  |  |
| NOK	EQUINOR ASA NOK2.50 | 428 189.00 | 16 424 835.75 | 2.91 |
| Total Norway |  | 16 424 835.75 | 2.91 |
| Sweden |  |  |  |
| SEK	HEXPOL NPV (POST SPLIT) B | 769 948.00 | 7 232 292.77 | 1.28 |
| Total Sweden |  | 7 232 292.77 | 1.28 |
| Switzerland |  |  |  |
| CHF	ALCON AG CHF0.04 | 171 521.00 | 12 847 746.91 | 2.28 |
| Total Switzerland |  | 12 847 746.91 | 2.28 |
| United Kingdom |  |  |  |
| GBP	LONDON STOCK EXCH ORD GBP0.06918604 | 133 991.00 | 12 499 672.82 | 2.22 |
| Total United Kingdom |  | 12 499 672.82 | 2.22 |
| United States |  |  |  |
| USD	AKAMAI TECHNOLOGIES INC COM | 126 979.00 | 12 829 958.16 | 2.27 |
| USD	AMAZON COM INC COM USD0.01 | 6 762.00 | 16 257 132.78 | 2.88 |
| USD	BROADCOM CORP COM USD1.00 | 23 952.00 | 13 895 273.76 | 2.46 |
| USD	BUNGE LIMITED COM USD0.01 | 146 639.00 | 17 350 326.48 | 3.07 |
| USD	CENTENE CORP DEL COM | 145 283.00 | 11 831 847.52 | 2.10 |
| USD	CMS ENERGY CORP COM | 182 364.00 | 12 955 138.56 | 2.30 |
| USD	DANAHER CORP COM USD0.01 | 65 490.00 | 17 277 571.80 | 3.06 |
| USD	DEVON ENERGY CORP NEW COM | 138 953.00 | 10 407 579.70 | 1.84 |
| USD	ELI LILLY AND CO COM NPV | 20 322.00 | 6 369 727.68 | 1.13 |
| USD	ERIE INDTY CO CL A | 66 756.00 | 11 198 319.00 | 1.98 |
| USD	ESTEE LAUDER COS CLASS’A’COM USD0.01 | 50 658.00 | 12 900 059.70 | 2.29 |
| USD	F5 NETWORK INC COM STK NPV | 62 309.00 | 10 158 859.36 | 1.80 |
| USD	FIDELITY NATL INF COM STK USD0.01 | 54 960.00 | 5 743 320.00 | 1.02 |
| USD	HAYWARD HLDGS INC COM USD0.001 | 532 440.00 | 8 146 332.00 | 1.44 |
| USD	INGERSOLL RAND INC COM USD1.00 | 239 399.00 | 11 287 662.85 | 2.00 |
| USD	LAB CORP AMER HLDG COM USD0.1 | 49 434.00 | 12 196 356.48 | 2.16 |
| USD	LYFT INC COM USD0.00001 CLASS A | 152 246.00 | 2 691 709.28 | 0.48 |
| USD	MARAVAI LIFESCIENC USD0.01 A | 120 631.00 | 3 757 655.65 | 0.67 |
| USD	MARVELL TECHNOLOGY COM USD0.002 | 80 445.00 | 4 758 321.75 | 0.84 |
| USD	META FINL GROUP COM USD0.01 | 191 533.00 | 7 962 026.81 | 1.41 |
| USD	MICRON TECHNOLOGY COM USD0.10 | 163 990.00 | 12 109 021.60 | 2.15 |
| USD	NIKE INC CLASS’B’COM NPV | 78 119.00 | 9 284 443.15 | 1.65 |
| USD	PRIMO WATER CORP COM NPV | 542 397.00 | 7 767 125.04 | 1.38 |
| USD	PROGRESSIVE CP(OH) COM USD1 | 104 065.00 | 12 423 279.70 | 2.20 |
| USD	REGAL BELOIT CORP. COM USD0.01 | 90 824.00 | 11 348 458.80 | 2.01 |
| USD	ROPER TECHNOLOGIES COM USD0.01 | 27 144.00 | 12 009 591.36 | 2.13 |
| USD	SCOTTS MIRACLE GRO CO CL A | 104 534.00 | 9 891 007.08 | 1.75 |
| USD	SLM CORP COM USD0.20 | 853 379.00 | 16 717 694.61 | 2.96 |
| USD	SPLUNK INC COM USD0.001 | 78 365.00 | 8 037 114.40 | 1.42 |
| USD	THE AZEK COMPANY I COM USD0.001 CLASS A | 350 495.00 | 7 384 929.65 | 1.31 |
| USD	TJX COS INC COM USD1 | 165 585.00 | 10 526 238.45 | 1.87 |
| USD	UNIVERSAL DISPLAY COM USD0.01 | 65 795.00 | 8 310 566.45 | 1.47 |

UBS (Lux) Equity Fund – Global Sustainable Improvers (USD) Semi-Annual Report as of 31 May 2022
|  | Description | Quantity/ | Valuation in USD | as a % |
| --- | --- | --- | --- | --- |
|  | Nominal | Unrealized gain | of net |
|  |  | (loss) on Futures/ | assets |
|  |  | Forward |  |
|  |  | Exchange Contracts/ |  |
|  |  | Swaps (Note 1) |  |
|  |  |  |  |  |
| USD | VMWARE INC COM STK USD0.01 CLASS ‘A’ | 95 194.00 | 12 194 351.40 | 2.16 |
| USD | VOYA FINL INC COM USD0.01 | 183 082.00 | 12 561 256.02 | 2.23 |
| USD | WELLS FARGO & CO COM USD1 2/3 | 270 955.00 | 12 401 610.35 | 2.20 |
| Total United States | 372 941 867.38 | 66.09 |
| Total Equities | 547 552 823.72 | 97.04 |
| Total Transferable securities and money market instruments listed on an official stock exchange | 547 552 823.72 | 97.04 |

Transferable securities and money market instruments not listed on an official stock exchange and not traded on another regulated market
Rights
The Netherlands
| EUR | KONINKLIJKE PHILIPS-SCRIP(STOCK DIVIDEND) RIGHTS 03.06.22 | 224 761.00 | 205 343.70 | 0.04 |
| --- | --- | --- | --- | --- |
| Total The Netherlands | 205 343.70 | 0.04 |
| Total Rights | 205 343.70 | 0.04 |
| Total Transferable securities and money market instruments not listed on an official stock exchange and not traded on another regulated market | 205 343.70 | 0.04 |
| Total investments in securities | 547 758 167.42 | 97.08 |
|  |  |  |
| Cash at banks, deposits on demand and deposit accounts and other liquid assets | 12 767 449.32 | 2.26 |
| Other assets and liabilities | 3 723 902.54 | 0.66 |
| Total net assets | 564 249 519.28 | 100.00 |

UBS (Lux) Equity Fund – Global Sustainable Improvers (USD)
Semi-Annual Report as of 31 May 2022

Translation (ENFR, 2022-05-31):
# UBS (Lux) Equity Fund
– Global Sustainable Improvers (USD)
| Données principales |  |
| --- | --- |
|  | ISIN | 31.5.2022 | 30.11.2021 |
| Actif net en USD |  | 564 249 519.28 | 638 841 033.51 |
| Catégorie P-acc 1 | LU2388907649 |  |  |
| Parts en circulation |  | 100.0000 | 100.0000 |
| Valeur nette d’inventaire par part en USD |  | 87.04 | 99.00 |
| Prix d’émission et de rachat par part en USD 2 |  | 87.04 | 99.00 |
| Catégorie Q-acc 1 | LU2388907722 |  |  |
| Parts en circulation |  | 100.0000 | 100.0000 |
| Valeur nette d’inventaire par part en USD |  | 87.42 | 99.06 |
| Prix d’émission et de rachat par part en USD 2 |  | 87.42 | 99.06 |
| Catégorie U-X-acc 1 | LU2391792749 |  |  |
| Parts en circulation |  | 64 184.0000 | 64 430.0000 |
| Valeur nette d’inventaire par part en USD |  | 8 790.85 | 9 914.97 |
| Prix d’émission et de rachat par part en USD 2 |  | 8 790.85 | 9 914.97 |
| 1  Première VNI 29.10.2021 2  Voir note 1 |  |  |  |

UBS (Lux) Equity Fund – Global Sustainable Improvers (USD) Rapport semestriel au 31 mai 2022

## Structure du portefeuille-titres
Répartition géographique en % de l’actif net	
| Etats-Unis | 66.09 |
| --- | --- |
| Japon | 7.58 |
| Irlande | 4.18 |
| Italie | 3.74 |
| Norvège | 2.91 |
| Pays-Bas | 2.53 |
| Suisse | 2.28 |
| Grande-Bretagne | 2.22 |
| Chine | 1.84 |
| France | 1.66 |
| Suède | 1.28 |
| Islande | 0.77 |
| Total | 97.08 |

Répartition économique en % de l’actif net	
| Internet, logiciels et services informatiques | 17.16 |
| --- | --- |
| Etablissements financiers et sociétés de participation | 14.27 |
| Machines et appareils | 9.41 |
| Produits pharmaceutiques, cosmétiques & médicaux | 6.89 |
| Electronique et semi-conducteurs | 6.05 |
| Banques & instituts de crédit | 5.83 |
| Pétrole | 4.75 |
| Commerce de détail, centres commerciaux | 4.75 |
| Alimentation & softs | 4.45 |
| Distribution d’énergie & d’eau | 4.43 |
| Assurances | 4.19 |
| Equipement informatique et de réseau | 4.12 |
| Textiles, habillement & maroquinerie | 3.26 |
| Soins de santé & services sociaux | 2.10 |
| Services divers | 1.31 |
| Bâtiment et matériaux de construction | 1.31 |
| Pneus et caoutchouc | 1.28 |
| Diverses sociétés non classées | 1.04 |
| Trafic et transport | 0.48 |
| Total | 97.08 |


## Etat des actifs nets
Actif	31.5.2022
USD
Portefeuille-titres, cours d’achat	628 315 444.98
| Portefeuille-titres, plus- (moins-) value non-réalisée | 	-80 557 277.56	 |
| --- | --- |
| Total portefeuille-titres (note 1) | 547 758 167.42 |
| Avoirs en banque, dépôts à vue et à terme | 12 767 449.32 |
| A recevoir sur ventes de titres (note 1) | 2 237 338.56 |
| A recevoir sur souscriptions | 8 110 815.56 |
| A recevoir sur dividendes | 631 449.46 |
| Frais payés d’avance | 17 829.62 |
| Autres créances | 126 248.76 |
| Total Actif | 571 649 298.70 |
|  |  |
| Passif |  |
| A payer sur achats de titres (note 1) | -7 376 165.16 |
| Provisions pour commission de gestion forfaitaire (note 2) | -18.17 |
| Provisions pour taxe d’abonnement (note 3) | -9 457.01 |
| Provisions pour autres commissions et frais (note 2) | 	-14 139.08	 |
| Total des Provisions pour frais | -23 614.26 |
| Total Passif | -7 399 779.42 |
|  |  |
| Actifs nets à la fin de la période | 564 249 519.28 |
| Etat des opérations | USD |
| Revenus | 1.12.2021-31.5.2022 |
| Revenus d’intérêts sur liquidités | 14.04 |
| Dividendes | 3 219 803.08 |
| Revenus nets sur prêts de titres (note 10) | 16 598.87 |
| Autres revenus (note 4) | 68 289.06 |
| Total des Revenus | 3 304 705.05 |
|  |  |
| Charges |  |
| Commission de gestion forfaitaire (note 2) | -119.54 |
| Taxe d’abonnement (note 3) | -30 176.48 |
| Autres commissions et frais (note 2) | -17 438.99 |
| Charges d’intérêts sur liquidités et crédit en compte courant | -1 607.07 |
| Total des Charges | -49 342.08 |
|  |  |
| Revenus (Pertes) net(te)s des investissements | 3 255 362.97 |
|  |  |
| Bénéfices (pertes) réalisé(e)s (note 1) |  |
| Bénéfice (perte) réalisé(e) sur titres évalués à la valeur de marché hors options | -22 002 865.62 |
| Bénéfice (perte) réalisé(e) sur contrats financiers à terme | 431 224.74 |
| Bénéfice (perte) réalisé(e) sur contrats de change à terme | -141.34 |
| Bénéfice (perte) réalisé(e) de change réalisé(e) | -145 282.53 |
| Total des Bénéfices (pertes) réalisé(e)s | -21 717 064.75 |
|  |  |
| Bénéfice (perte) net(te) réalisé(e) au cours de la période | -18 461 701.78 |
|  |  |
| Variations des plus- (moins-) values non-réalisées (note 1) |  |
| Plus- (Moins-) value non réalisée sur titres évalués à la valeur de marché hors options | -52 799 720.86 |
| Plus- (Moins-) value non réalisée sur contrats financiers à terme | 302 950.00 |
| Total des Variations des plus- (moins-) values non-réalisées | -52 496 770.86 |
|  |  |
| Augmentation/(diminution) nette de l’actif net issue de l’activité | -70 958 472.64 |

UBS (Lux) Equity Fund – Global Sustainable Improvers (USD)
Rapport semestriel au 31 mai 2022
| Variations de l’actif net |  |
| --- | --- |
|  | USD |
|  | 1.12.2021-31.5.2022 |
| Actif net au début de la période | 638 841 033.51 |
| Souscriptions | 45 164 616.15 |
| Rachats | 	-48 797 657.74	 |
| Souscriptions (Rachats) net(te)s | -3 633 041.59 |
| Revenus (Pertes) net(te)s des investissements | 3 255 362.97 |
| Total des Bénéfices (pertes) réalisé(e)s | -21 717 064.75 |
| Total des Variations des plus- (moins-) values non-réalisées | 	-52 496 770.86	 |
| Augmentation/(diminution) nette de l’actif net issue de l’activité | -70 958 472.64 |
| Actifs nets à la fin de la période | 564 249 519.28 |
| Evolution des parts en circulation |  |
|  | 1.12.2021-31.5.2022 |
| Catégorie | P-acc |
| Nombre de parts en circulation au début de la période | 100.0000 |
| Nombre de parts émises | 0.0000 |
| Nombre de parts rachetées | 0.0000 |
| Nombre de parts en circulation à la fin de la période | 100.0000 |
| Catégorie | Q-acc |
| Nombre de parts en circulation au début de la période | 100.0000 |
| Nombre de parts émises | 0.0000 |
| Nombre de parts rachetées | 0.0000 |
| Nombre de parts en circulation à la fin de la période | 100.0000 |
| Catégorie | U-X-acc |
| Nombre de parts en circulation au début de la période | 64 430.0000 |
| Nombre de parts émises | 4 905.0000 |
| Nombre de parts rachetées | -5 151.0000 |
| Nombre de parts en circulation à la fin de la période | 64 184.0000 |

UBS (Lux) Equity Fund – Global Sustainable Improvers (USD) Rapport semestriel au 31 mai 2022

## Etat du portefeuille-titres et autres actifs nets au 31 mai 2022
| 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 |  |  |  |
| Actions |  |  |  |
| Chine |  |  |  |
| HKD	MEITUAN USD0.00001 (A & B CLASS) | 436 400.00 | 10 401 667.18 | 1.84 |
| Total Chine |  | 10 401 667.18 | 1.84 |
| France |  |  |  |
| EUR	UBISOFT ENTERTAIN EUR0.31 | 179 074.00 | 9 351 859.85 | 1.66 |
| Total France |  | 9 351 859.85 | 1.66 |
| Islande |  |  |  |
| EUR	MAREL HF ISK1 | 928 852.00 | 4 328 392.27 | 0.77 |
| Total Islande |  | 4 328 392.27 | 0.77 |
| Irlande |  |  |  |
| EUR	AIB GROUP PLC ORD EUR0.625 | 3 262 257.00 | 8 736 732.03 | 1.55 |
| GBP	DCC ORD EUR0.25 | 104 992.00 | 7 423 231.53 | 1.31 |
| USD	MEDTRONIC PLC USD0.0001 | 74 300.00 | 7 441 145.00 | 1.32 |
| Total Irlande |  | 23 601 108.56 | 4.18 |
| Italie |  |  |  |
| EUR	HERA EUR1 | 3 240 510.00 | 12 028 388.31 | 2.13 |
| HKD	PRADA SPA EUR0.1 | 1 473 600.00 | 9 100 180.35 | 1.61 |
| Total Italie |  | 21 128 568.66 | 3.74 |
| Japon |  |  |  |
| JPY	JTOWER INC NPV | 173 100.00 | 8 329 037.27 | 1.48 |
| JPY	KEYENCE CORP NPV | 13 300.00 | 5 333 646.85 | 0.95 |
| JPY	NEC CORP NPV | 230 500.00 | 9 335 030.50 | 1.65 |
| JPY	OBIC BUSINESS CONS NPV | 241 800.00 | 8 401 772.31 | 1.49 |
| JPY	SOFTBANK GROUP CO NPV | 271 600.00 | 11 356 340.31 | 2.01 |
| Total Japon |  | 42 755 827.24 | 7.58 |
| Pays-Bas |  |  |  |
| EUR	KONINKLIJKE PHILIPS NV EUR0.20 | 317 736.00 | 8 165 588.82 | 1.45 |
| EUR	OCI N.V. EUR0.02 | 167 157.00 | 5 873 395.51 | 1.04 |
| Total Pays-Bas |  | 14 038 984.33 | 2.49 |
| Norvège |  |  |  |
| NOK	EQUINOR ASA NOK2.50 | 428 189.00 | 16 424 835.75 | 2.91 |
| Total Norvège |  | 16 424 835.75 | 2.91 |
| Suède |  |  |  |
| SEK	HEXPOL NPV (POST SPLIT) B | 769 948.00 | 7 232 292.77 | 1.28 |
| Total Suède |  | 7 232 292.77 | 1.28 |
| Suisse |  |  |  |
| CHF	ALCON AG CHF0.04 | 171 521.00 | 12 847 746.91 | 2.28 |
| Total Suisse |  | 12 847 746.91 | 2.28 |
| Grande-Bretagne |  |  |  |
| GBP	LONDON STOCK EXCH ORD GBP0.06918604 | 133 991.00 | 12 499 672.82 | 2.22 |
| Total Grande-Bretagne |  | 12 499 672.82 | 2.22 |
| Etats-Unis |  |  |  |
| USD	AKAMAI TECHNOLOGIES INC COM | 126 979.00 | 12 829 958.16 | 2.27 |
| USD	AMAZON COM INC COM USD0.01 | 6 762.00 | 16 257 132.78 | 2.88 |
| USD	BROADCOM CORP COM USD1.00 | 23 952.00 | 13 895 273.76 | 2.46 |
| USD	BUNGE LIMITED COM USD0.01 | 146 639.00 | 17 350 326.48 | 3.07 |
| USD	CENTENE CORP DEL COM | 145 283.00 | 11 831 847.52 | 2.10 |
| USD	CMS ENERGY CORP COM | 182 364.00 | 12 955 138.56 | 2.30 |
| USD	DANAHER CORP COM USD0.01 | 65 490.00 | 17 277 571.80 | 3.06 |
| USD	DEVON ENERGY CORP NEW COM | 138 953.00 | 10 407 579.70 | 1.84 |
| USD	ELI LILLY AND CO COM NPV | 20 322.00 | 6 369 727.68 | 1.13 |
| USD	ERIE INDTY CO CL A | 66 756.00 | 11 198 319.00 | 1.98 |
| USD	ESTEE LAUDER COS CLASS’A’COM USD0.01 | 50 658.00 | 12 900 059.70 | 2.29 |
| USD	F5 NETWORK INC COM STK NPV | 62 309.00 | 10 158 859.36 | 1.80 |
| USD	FIDELITY NATL INF COM STK USD0.01 | 54 960.00 | 5 743 320.00 | 1.02 |
| USD	HAYWARD HLDGS INC COM USD0.001 | 532 440.00 | 8 146 332.00 | 1.44 |
| USD	INGERSOLL RAND INC COM USD1.00 | 239 399.00 | 11 287 662.85 | 2.00 |
| USD	LAB CORP AMER HLDG COM USD0.1 | 49 434.00 | 12 196 356.48 | 2.16 |
| USD	LYFT INC COM USD0.00001 CLASS A | 152 246.00 | 2 691 709.28 | 0.48 |
| USD	MARAVAI LIFESCIENC USD0.01 A | 120 631.00 | 3 757 655.65 | 0.67 |
| USD	MARVELL TECHNOLOGY COM USD0.002 | 80 445.00 | 4 758 321.75 | 0.84 |
| USD	META FINL GROUP COM USD0.01 | 191 533.00 | 7 962 026.81 | 1.41 |
| USD	MICRON TECHNOLOGY COM USD0.10 | 163 990.00 | 12 109 021.60 | 2.15 |
| USD	NIKE INC CLASS’B’COM NPV | 78 119.00 | 9 284 443.15 | 1.65 |
| USD	PRIMO WATER CORP COM NPV | 542 397.00 | 7 767 125.04 | 1.38 |
| USD	PROGRESSIVE CP(OH) COM USD1 | 104 065.00 | 12 423 279.70 | 2.20 |
| USD	REGAL BELOIT CORP. COM USD0.01 | 90 824.00 | 11 348 458.80 | 2.01 |
| USD	ROPER TECHNOLOGIES COM USD0.01 | 27 144.00 | 12 009 591.36 | 2.13 |
| USD	SCOTTS MIRACLE GRO CO CL A | 104 534.00 | 9 891 007.08 | 1.75 |
| USD	SLM CORP COM USD0.20 | 853 379.00 | 16 717 694.61 | 2.96 |
| USD	SPLUNK INC COM USD0.001 | 78 365.00 | 8 037 114.40 | 1.42 |
| USD	THE AZEK COMPANY I COM USD0.001 CLASS A | 350 495.00 | 7 384 929.65 | 1.31 |
| USD	TJX COS INC COM USD1 | 165 585.00 | 10 526 238.45 | 1.87 |
| USD	UNIVERSAL DISPLAY COM USD0.01 | 65 795.00 | 8 310 566.45 | 1.47 |

UBS (Lux) Equity Fund – Global Sustainable Improvers (USD)
Rapport semestriel au 31 mai 2022
|  | 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 | VMWARE INC COM STK USD0.01 CLASS ‘A’ | 95 194.00 | 12 194 351.40 | 2.16 |
| USD | VOYA FINL INC COM USD0.01 | 183 082.00 | 12 561 256.02 | 2.23 |
| USD | WELLS FARGO & CO COM USD1 2/3 | 270 955.00 | 12 401 610.35 | 2.20 |
| Total Etats-Unis | 372 941 867.38 | 66.09 |
| Total des Actions | 547 552 823.72 | 97.04 |
| Total des Titres et instruments du marché monétaire négociés sur une bourse officielle | 547 552 823.72 | 97.04 |

Titres et instruments du marché monétaire non négociés sur une bourse officielle ou un autre marché réglementé
Droits
Pays-Bas
| EUR | KONINKLIJKE PHILIPS-SCRIP(STOCK DIVIDEND) RIGHTS 03.06.22 | 224 761.00 | 205 343.70 | 0.04 |
| --- | --- | --- | --- | --- |
| Total Pays-Bas | 205 343.70 | 0.04 |
| Total des Droits | 205 343.70 | 0.04 |
| Total des Titres et instruments du marché monétaire non négociés sur une bourse officielle ou un autre marché réglementé | 205 343.70 | 0.04 |
| Total du Portefeuille-titres | 547 758 167.42 | 97.08 |
|  |  |  |
| Avoirs en banque, dépôts à vue et à terme et autres liquidités | 12 767 449.32 | 2.26 |
| Autres actifs et passifs | 3 723 902.54 | 0.66 |
| Total de l’Actif net | 564 249 519.28 | 100.00 |

UBS (Lux) Equity Fund – Global Sustainable Improvers (USD) Rapport semestriel au 31 mai 2022