# UBS (Lux) Bond SICAV
– USD Investment Grade Corporates (USD)
| Most important figures |  |
| --- | --- |
|  | ISIN | 30.11.2020 | 31.5.2020 | 31.5.2019 |
| Net assets in USD |  | 2 615 744 114.17 | 2 728 605 428.33 | 2 693 562 132.32 |
| Class F-acc | LU1611257095 |  |  |  |
| Shares outstanding |  | 4 775.5110 | 5 081.0610 | 5 358.2820 |
| Net asset value per share in USD |  | 117 462.33 | 112 223.79 | 105 453.19 |
| Issue and redemption price per share in USD 1 |  | 117 462.33 | 112 223.79 | 105 453.19 |
| Class U-X-acc | LU1469614280 |  |  |  |
| Shares outstanding |  | 143 932.8450 | 159 466.8550 | 170 144.1720 |
| Net asset value per share in USD |  | 12 289.57 | 11 720.07 | 10 973.60 |
| Issue and redemption price per share in USD 1 |  | 12 289.57 | 11 720.07 | 10 973.60 |
| Class (CHF hedged) U-X-acc | LU1469622465 |  |  |  |
| Shares outstanding |  | 23 394.9160 | 26 196.9160 | 25 622.9160 |
| Net asset value per share in CHF |  | 11 064.42 | 10 613.93 | 10 262.29 |
| Issue and redemption price per share in CHF 1 |  | 11 064.42 | 10 613.93 | 10 262.29 |
| 1  See note 1 |  |  |  |  |


## Structure of the Securities Portfolio
Geographical Breakdown as a % of net assets	
United States	75.51
United Kingdom	4.98
The Netherlands	2.86
Japan	2.02
Australia	1.67
France	1.07
Switzerland	1.00
Norway	0.98
Ireland	0.92
Canada	0.88
Spain	0.80
Italy	0.56
Saudi Arabia	0.52
Guernsey	0.51
Bermuda	0.47
Denmark	0.39
South Korea	0.24
Mexico	0.24
Colombia	0.14
Brazil	0.13
Jersey	0.12
Finland	0.10
Cayman Islands	0.08
Total	96.19
Economic Breakdown as a % of net assets	
Banks & credit institutions	26.43
Finance & holding companies	21.33
Energy & water supply	6.04
Pharmaceuticals, cosmetics & medical products	4.08
Petroleum	3.96
Telecommunications	3.45
Internet, software & IT services	3.02
Computer hardware & network equipment providers	2.49
Electrical devices & components	2.43
Aerospace industry	2.12
Electronics & semiconductors	2.02
Healthcare & social services	1.88
Traffic & transportation	1.80
Tobacco & alcohol	1.60
Insurance	1.42
Graphic design, publishing & media	1.38
Real Estate	1.22
Retail trade, department stores	1.14
Mechanical engineering & industrial equipment	1.09
Food & soft drinks	0.99
Chemicals	0.98
Biotechnology	0.94
Mining, coal & steel	0.80
Mortgage & funding institutions	0.78
Miscellaneous trading companies	0.64
Building industry & materials	0.39
Textiles, garments & leather goods	0.37
Vehicles	0.35
Miscellaneous services	0.34
Lodging, catering & leisure	0.33
Supranational organisations	0.14
Miscellaneous consumer goods	0.10
Non-ferrous metals	0.10
Packaging industry	0.04
Total	96.19
UBS (Lux) Bond SICAV – USD Investment Grade Corporates (USD) Semi-Annual Report as of 30 November 2020

## Statement of Net Assets
Assets	30.11.2020
USD
Investments in securities, cost	2 351 285 731.59
| Investments in securities, unrealized appreciation (depreciation) | 	164 703 509.51	 |
| --- | --- |
| Total investments in securities (Note 1) | 2 515 989 241.10 |
| Cash at banks, deposits on demand and deposit accounts | 77 751 093.07 |
| Other liquid assets (Margins) | 766 000.00 |
| Receivable on subscriptions | 8 459 699.56 |
| Interest receivable on securities | 19 864 268.15 |
| Unrealized gain on forward foreign exchange contracts (Note 1) | 1 949 839.17 |
| Total Assets | 2 624 780 141.05 |
|  |  |
| Liabilities |  |
| Unrealized loss on financial futures (Note 1) | -143 750.00 |
| Bank overdraft | -10.84 |
| Payable on securities purchases (Note 1) | -6 496 425.00 |
| Payable on redemptions | -1 801 548.21 |
| Provisions for flat fee (Note 2) | -82 116.55 |
| Provisions for taxe d’abonnement (Note 3) | -43 358.84 |
| Provisions for other commissions and fees (Note 2) | 	-468 817.44	 |
| Total provisions | -594 292.83 |
| Total Liabilities | -9 036 026.88 |
|  |  |
| Net assets at the end of the period | 2 615 744 114.17 |
| Statement of Operations | USD |
| Income | 1.6.2020-30.11.2020 |
| Interest on liquid assets | 0.56 |
| Interest on securities | 42 584 543.47 |
| Income on securities lending (Note 12) | 38 004.58 |
| Other income (Note 4) | 2 314 781.13 |
| Total income | 44 937 329.74 |
|  |  |
| Expenses |  |
| Flat fee (Note 2) | -1 034 631.51 |
| Taxe d’abonnement (Note 3) | -138 265.98 |
| Cost on securities lending (Note 12) | -15 201.83 |
| Other commissions and fees (Note 2) | -121 759.72 |
| Interest on cash and bank overdraft | -314.48 |
| Total expenses | -1 310 173.52 |
|  |  |
| Net income (loss) on investments | 43 627 156.22 |
|  |  |
| Realized gain (loss) (Note 1) |  |
| Realized gain (loss) on market-priced securities without options | 17 922 018.92 |
| Realized gain (loss) on financial futures | -306 086.00 |
| Realized gain (loss) on forward foreign exchange contracts | 19 359 407.87 |
| Realized gain (loss) on foreign exchange | -2 993 841.51 |
| Total realized gain (loss) | 33 981 499.28 |
|  |  |
| Net realized gain (loss) of the period | 77 608 655.50 |
|  |  |
| Changes in unrealized appreciation (depreciation) (Note 1) |  |
| Unrealized appreciation (depreciation) on market-priced securities without options | 68 410 649.76 |
| Unrealized appreciation (depreciation) on financial futures | -159 375.00 |
| Unrealized appreciation (depreciation) on forward foreign exchange contracts | -1 433 218.68 |
| Total changes in unrealized appreciation (depreciation) | 66 818 056.08 |
|  |  |
| Net increase (decrease) in net assets as a result of operations | 144 426 711.58 |

UBS (Lux) Bond SICAV – USD Investment Grade 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 | 2 728 605 428.33 |
| Subscriptions | 256 998 889.36 |
| Redemptions | 	-514 286 915.10	 |
| Total net subscriptions (redemptions) | -257 288 025.74 |
| Net income (loss) on investments | 43 627 156.22 |
| Total realized gain (loss) | 33 981 499.28 |
| Total changes in unrealized appreciation (depreciation) | 	66 818 056.08	 |
| Net increase (decrease) in net assets as a result of operations | 144 426 711.58 |
| Net assets at the end of the period | 2 615 744 114.17 |
| 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 | 5 081.0610 |
| Number of shares issued | 230.8700 |
| Number of shares redeemed | -536.4200 |
| Number of shares outstanding at the end of the period | 4 775.5110 |
| Class | U-X-acc |
| Number of shares outstanding at the beginning of the period | 159 466.8550 |
| Number of shares issued | 18 532.0000 |
| Number of shares redeemed | -34 066.0100 |
| Number of shares outstanding at the end of the period | 143 932.8450 |
| Class | (CHF hedged) U-X-acc |
| Number of shares outstanding at the beginning of the period | 26 196.9160 |
| Number of shares issued | 680.0000 |
| Number of shares redeemed | -3 482.0000 |
| Number of shares outstanding at the end of the period | 23 394.9160 |

UBS (Lux) Bond SICAV – USD Investment Grade 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 2.60000% 20-21.11.24 | 5 000 000.00 | 5 352 050.00 | 0.20 |
| USD	ABBVIE INC 2.90000% 13-06.11.22 | 5 000 000.00 | 5 227 143.00 | 0.20 |
| USD	ABBVIE INC 3.20000% 20-21.11.29 | 10 000 000.00 | 11 307 268.00 | 0.43 |
| USD	ABBVIE INC 4.25000% 18-14.11.28 | 5 000 000.00 | 6 037 990.00 | 0.23 |
| USD	ADOBE INC 2.30000% 20-01.02.30 | 3 946 000.00 | 4 289 231.76 | 0.16 |
| USD	AERCAP IRE CAP LTD/GLB AVIA TRUST 4.45000% 19-03.04.26 | 4 250 000.00 | 4 574 488.78 | 0.17 |
| USD	AERCAP IRELAND CAP/ GLBL AVIATION TRUST 6.50000% 20-15.07.25 | 4 000 000.00 | 4 624 222.00 | 0.18 |
| USD	AETNA INC 2.80000% 16-15.06.23 | 11 000 000.00 | 11 565 150.30 | 0.44 |
| USD	AIR PRODUCTS & CHEMICALS INC 1.85000% 20-15.05.27 | 11 500 000.00 | 12 122 005.10 | 0.46 |
| USD	ALLY FINANCIAL INC 5.12500% 14-30.09.24 | 2 600 000.00 | 2 982 356.52 | 0.11 |
| USD	ALLY FINANCIAL INC 5.80000% 20-01.05.25 | 1 000 000.00 | 1 189 926.80 | 0.05 |
| USD	ALPHABET INC 0.45000% 20-15.08.25 | 4 350 000.00 | 4 345 244.14 | 0.17 |
| USD	ALPHABET INC 1.10000% 20-15.08.30 | 7 802 000.00 | 7 737 286.31 | 0.30 |
| USD	ALTRIA GROUP INC 4.80000% 19-14.02.29 | 9 500 000.00 | 11 379 984.45 | 0.44 |
| USD	AMAZON.COM INC 1.20000% 20-03.06.27 | 12 500 000.00 | 12 737 168.75 | 0.49 |
| USD	AMERICAN ELECTRIC POWER INC 3.20000% 17-13.11.27 | 6 000 000.00 | 6 721 866.00 | 0.26 |
| USD	AMERICAN EXPRESS CO-SUB 3.62500% 14-05.12.24 | 5 500 000.00 | 6 100 123.15 | 0.23 |
| USD	AMERICAN INTERNATIONAL GROUP INC 4.25000% 19-15.03.29 | 3 000 000.00 | 3 586 602.60 | 0.14 |
| USD	AMERICAN INTL GROUP INC 3.40000% 20-30.06.30 | 3 000 000.00 | 3 415 463.40 | 0.13 |
| USD	AMGEN INC 1.90000% 20-21.02.25 | 6 000 000.00 | 6 283 824.60 | 0.24 |
| USD	AMGEN INC 2.45000% 20-21.02.30 | 4 502 000.00 | 4 830 514.54 | 0.18 |
| USD	ANGLO AMERICAN CAPITAL PLC-144A 4.87500% 15-14.05.25 | 8 000 000.00 | 9 185 280.00 | 0.35 |
| USD	ANHEUSER-BUSCH INBEV WORLDWIDE INC 4.75000% 19-23.01.29 | 10 000 000.00 | 12 286 423.00 | 0.47 |
| USD	AON CORP 2.80000% 20-15.05.30 | 5 000 000.00 | 5 462 172.50 | 0.21 |
| USD	APPLE INC 1.12500% 20-11.05.25 | 7 000 000.00 | 7 152 132.40 | 0.27 |
| USD	APPLE INC 1.65000% 20-11.05.30 | 10 360 000.00 | 10 715 362.51 | 0.41 |
| USD	APPLE INC 3.00000% 17-13.11.27 | 5 000 000.00 | 5 654 959.50 | 0.22 |
| USD	ASHTEAD CAPITAL INC-144A 4.25000% 19-01.11.29 | 5 250 000.00 | 5 696 250.00 | 0.22 |
| USD	AT&T INC 2.75000% 20-01.06.31 | 12 000 000.00 | 12 758 980.80 | 0.49 |
| USD	AT&T INC 4.30000% 18-15.02.30 | 2 910 000.00 | 3 485 999.29 | 0.13 |
| USD	AT&T INC 4.35000% 19-01.03.29 | 5 000 000.00 | 5 974 152.50 | 0.23 |
| USD	AUTODESK INC 2.85000% 20-15.01.30 | 5 000 000.00 | 5 526 213.00 | 0.21 |
| USD	BAE SYSTEMS PLC-144A 1.90000% 20-15.02.31 | 12 800 000.00 | 12 925 359.36 | 0.49 |
| USD	BANCO SANTANDER SA 3.50000% 17-11.04.22 | 4 400 000.00 | 4 574 359.68 | 0.17 |
| USD	BANCO SANTANDER SA 3.12500% 17-23.02.23 | 4 600 000.00 | 4 846 699.84 | 0.18 |
| USD	BANCO SANTANDER SA 4.25000% 17-11.04.27 | 10 000 000.00 | 11 486 094.00 | 0.44 |
| USD	BANK OF NOVA SCOTIA-SUB 4.50000% 15-16.12.25 | 6 050 000.00 | 6 963 017.60 | 0.27 |
| USD	BARCLAYS BANK PLC-144A-SUB 10.17900% 09-12.06.21 | 7 480 000.00 | 7 837 273.22 | 0.30 |
| USD	BARCLAYS PLC 3.68400% 17-10.01.23 | 2 250 000.00 | 2 321 999.78 | 0.09 |
| USD	BARCLAYS PLC-SUB 4.37500% 14-11.09.24 | 11 750 000.00 | 12 965 823.02 | 0.50 |
| USD	BIOGEN INC 2.25000% 20-01.05.30 | 5 000 000.00 | 5 182 210.50 | 0.20 |
| USD	BOEING CO 4.87500% 20-01.05.25 | 13 000 000.00 | 14 501 510.40 | 0.55 |
| USD	BP CAPITAL MARKETS AMERICA INC 3.41000% 19-11.02.26 | 10 000 000.00 | 11 183 396.00 | 0.43 |
| USD	BRISTOL-MYERS SQUIBB CO 3.20000% 20-15.06.26 | 8 000 000.00 | 8 984 128.80 | 0.34 |
| USD	BRITISH TELECOMMUNICATIONS PLC 4.50000% 18-04.12.23 | 10 614 000.00 | 11 726 414.07 | 0.45 |
| USD	BROADCOM CORP/CAYMAN FIN LTD 3.87500% 18-15.01.27 | 6 849 000.00 | 7 690 516.08 | 0.29 |
| USD	BROADCOM CORP/CAYMAN FIN LTD 3.50000% 18-15.01.28 | 2 049 000.00 | 2 257 056.89 | 0.09 |
| USD	BROADCOM INC 5.00000% 20-15.04.30 | 2 000 000.00 | 2 421 161.20 | 0.09 |
| USD	CAPITAL ONE FINANCIAL CORP 3.50000% 13-15.06.23 | 5 608 000.00 | 6 014 563.17 | 0.23 |
| USD	CAPITAL ONE FINANCIAL CORP-SUB 4.20000% 15-29.10.25 | 9 501 000.00 | 10 781 595.14 | 0.41 |
| USD	CCO LLC/CAPITAL 2.80000% 20-01.04.31 | 3 000 000.00 | 3 177 237.60 | 0.12 |
| USD	CCO LLC/CAPITAL 4.20000% 17-15.03.28 | 6 000 000.00 | 6 899 130.00 | 0.26 |
| USD	CCO LLC/CAPITAL 4.90800% 16-23.07.25 | 12 000 000.00 | 13 894 479.60 | 0.53 |
| USD	CHEVRON USA INC 1.01800% 20-12.08.27 | 8 750 000.00 | 8 760 922.63 | 0.33 |
| USD	CIGNA CORP 2.40000% 20-15.03.30 | 3 000 000.00 | 3 192 672.60 | 0.12 |
| USD	CIGNA CORP 4.12500% 19-15.11.25 | 7 000 000.00 | 8 054 969.30 | 0.31 |
| USD	CIGNA CORP 4.37500% 19-15.10.28 | 6 655 000.00 | 8 010 732.64 | 0.31 |
| USD	CITIGROUP INC 3.20000% 16-21.10.26 | 10 000 000.00 | 11 107 122.00 | 0.42 |
| USD	CITIGROUP INC 3.70000% 16-12.01.26 | 5 750 000.00 | 6 508 944.80 | 0.25 |
| USD	CITIGROUP INC-SUB 3.87500% 15-26.03.25 | 2 500 000.00 | 2 788 375.00 | 0.11 |
| USD	CITIGROUP INC-SUB 4.40000% 15-10.06.25 | 5 000 000.00 | 5 725 039.00 | 0.22 |
| USD	CITIGROUP INC-SUB 4.45000% 15-29.09.27 | 18 000 000.00 | 21 119 416.20 | 0.81 |
| USD	CITIGROUP INC-SUB 5.50000% 13-13.09.25 | 6 250 000.00 | 7 521 373.12 | 0.29 |
| USD	CMS ENERGY CORP 3.60000% 15-15.11.25 | 3 000 000.00 | 3 368 673.90 | 0.13 |
| USD	COCA-COLA CO/THE 1.65000% 20-01.06.30 | 6 954 000.00 | 7 174 312.45 | 0.27 |
| USD	COMCAST CORP 3.15000% 16-01.03.26 | 2 249 000.00 | 2 507 442.03 | 0.10 |
| USD	COMCAST CORP 3.95000% 18-15.10.25 | 18 922 000.00 | 21 695 278.33 | 0.83 |
| USD	COMCAST CORP 4.25000% 18-15.10.30 | 5 000 000.00 | 6 174 922.50 | 0.24 |
| USD	CONCHO RESOURCES INC 2.40000% 20-15.02.31 | 2 500 000.00 | 2 614 417.00 | 0.10 |
| USD	CORPORACION ANDINA DE FOMENTO 2.12500% 16-27.09.21 | 3 660 000.00 | 3 705 310.80 | 0.14 |
| USD	CREDIT AGRICOLE SA-144A-SUB 4.37500% 15-17.03.25 | 4 500 000.00 | 5 030 541.45 | 0.19 |
| USD	CREDIT SUISSE GROUP AG-144A 3.57400% 17-09.01.23 | 14 220 000.00 | 14 676 342.55 | 0.56 |
| USD	CREDIT SUISSE GROUP AG-144A 4.28200% 17-09.01.28 | 10 000 000.00 | 11 541 414.00 | 0.44 |
| USD	CREDIT SUISSE GRP FDNG GUERNSEY 3.80000% 16-15.09.22 | 10 000 000.00 | 10 578 600.00 | 0.40 |
| USD	CREDIT SUISSE GRP FDNG GUERNSEY 4.55000% 16-17.04.26 | 2 250 000.00 | 2 636 467.87 | 0.10 |
| USD	CVS HEALTH CORP 2.62500% 19-15.08.24 | 5 000 000.00 | 5 351 472.50 | 0.20 |
| USD	CVS HEALTH CORP 3.70000% 18-09.03.23 | 5 000 000.00 | 5 349 500.00 | 0.20 |
| USD	CVS HEALTH CORP 3.87500% 15-20.07.25 | 3 500 000.00 | 3 949 683.50 | 0.15 |
| USD	CVS HEALTH CORP 4.10000% 18-25.03.25 | 2 042 000.00 | 2 312 975.85 | 0.09 |
| USD	CVS HEALTH CORP 4.75000% 16-01.12.22 | 1 000 000.00 | 1 075 371.10 | 0.04 |
| USD	DANSKE BANK AS-144A 1.22600% 20-22.06.24 | 10 000 000.00 | 10 134 140.00 | 0.39 |
| USD	DIAMONDBACK ENERGY INC 3.25000% 19-01.12.26 | 6 000 000.00 | 6 351 415.20 | 0.24 |
| USD	DOMINION ENERGY INC 2.85000% 16-15.08.26 | 2 000 000.00 | 2 195 029.20 | 0.08 |
| USD	DOMINION ENERGY INC 3.37500% 20-01.04.30 | 15 000 000.00 | 17 157 624.00 | 0.66 |
| USD	DTE ENERGY CO 2.95000% 19-01.03.30 | 9 000 000.00 | 9 840 431.70 | 0.38 |
| USD	DTE ENERGY CO 3.30000% 15-15.06.22 | 5 000 000.00 | 5 191 661.00 | 0.20 |
| USD	DTE ENERGY CO 3.40000% 19-15.06.29 | 8 000 000.00 | 9 040 112.00 | 0.35 |
| USD	EMERSON ELECTRIC CO 1.95000% 20-15.10.30 | 5 000 000.00 | 5 241 829.00 | 0.20 |

UBS (Lux) Bond SICAV – USD Investment Grade 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 | ENBRIDGE INC 3.50000% 14-10.06.24 | 1 561 000.00 | 1 687 847.33 | 0.06 |
| USD | ENI SPA-144A 4.00000% 18-12.09.23 | 6 500 000.00 | 7 073 146.60 | 0.27 |
| USD | ENTERPRISE PRODUCTS OPERATING LLC 3.70000% 15-15.02.26 | 2 500 000.00 | 2 819 265.50 | 0.11 |
| USD | EQUINIX INC 2.15000% 20-15.07.30 | 5 000 000.00 | 5 098 805.00 | 0.19 |
| USD | EQUINOR ASA 2.87500% 20-06.04.25 | 17 000 000.00 | 18 476 257.90 | 0.71 |
| USD | FIRSTENERGY CORP 2.85000% 17-15.07.22 | 5 000 000.00 | 5 120 150.00 | 0.20 |
| USD | FIRSTENERGY CORP 3.90000% 17-15.07.27 | 10 000 000.00 | 11 047 026.00 | 0.42 |
| USD | FISERV INC 3.20000% 19-01.07.26 | 15 000 000.00 | 16 821 166.50 | 0.64 |
| USD | FISERV INC 3.50000% 19-01.07.29 | 3 000 000.00 | 3 437 180.10 | 0.13 |
| USD | FORD MOTOR CREDIT CO 3.37500% 20-13.11.25 | 5 800 000.00 | 5 844 660.00 | 0.22 |
| USD | FORD MOTOR CREDIT CO LLC 5.87500% 11-02.08.21 | 3 000 000.00 | 3 071 220.00 | 0.12 |
| USD | FORD MOTOR CREDIT CO LLC 3.20000% 15-15.01.21 | 5 000 000.00 | 5 005 500.00 | 0.19 |
| USD | GE CAPITAL INTL FUNDING CO 3.37300% 16-15.11.25 | 4 000 000.00 | 4 388 346.00 | 0.17 |
| USD | GENERAL ELECTRIC CO 3.45000% 20-01.05.27 | 5 000 000.00 | 5 502 314.00 | 0.21 |
| USD | GENERAL ELECTRIC CO 3.62500% 20-01.05.30 | 3 000 000.00 | 3 365 413.20 | 0.13 |
| USD | GENERAL MOTORS CO 4.20000% 17-01.10.27 | 2 500 000.00 | 2 814 462.50 | 0.11 |
| USD | GENERAL MOTORS FINANCIAL CO INC 4.20000% 16-01.03.21 | 9 942 000.00 | 9 996 240.57 | 0.38 |
| USD | GENERAL MOTORS FINANCIAL CO INC 3.70000% 16-09.05.23 | 3 000 000.00 | 3 175 747.20 | 0.12 |
| USD | GENERAL MOTORS FINANCIAL CO INC 4.00000% 16-06.10.26 | 1 750 000.00 | 1 955 433.20 | 0.07 |
| USD | GENERAL MOTORS FINANCIAL CO 3.85000% 18-05.01.28 | 5 000 000.00 | 5 571 528.00 | 0.21 |
| USD | GENERAL MOTORS FINANCIAL CO INC 5.10000% 19-17.01.24 | 2 900 000.00 | 3 241 722.95 | 0.12 |
| USD | GENERAL MOTORS FINANCIAL CO INC 3.55000% 19-08.07.22 | 2 000 000.00 | 2 089 864.00 | 0.08 |
| USD | GENERAL MOTORS FINANCIAL CO INC 2.90000% 20-26.02.25 | 15 000 000.00 | 15 892 023.00 | 0.61 |
| USD | GEORGIA POWER CO 2.65000% 19-15.09.29 | 10 000 000.00 | 10 972 741.00 | 0.42 |
| USD | GILEAD SCIENCES INC 3.50000% 14-01.02.25 | 5 000 000.00 | 5 522 538.00 | 0.21 |
| USD | GILEAD SCIENCES INC 3.65000% 15-01.03.26 | 2 358 000.00 | 2 673 037.76 | 0.10 |
| USD | GOLDMAN SACHS GROUP INC-SUB 4.25000% 15-21.10.25 | 5 000 000.00 | 5 745 388.50 | 0.22 |
| USD | GOLDMAN SACHS GROUP INC/THE 3.00000% 17-26.04.22 | 5 000 000.00 | 5 050 638.50 | 0.19 |
| USD | GOLDMAN SACHS GROUP INC/THE 3.20000% 18-23.02.23 | 9 500 000.00 | 10 058 273.20 | 0.38 |
| USD | HCA INC 4.12500% 19-15.06.29 | 3 000 000.00 | 3 469 155.90 | 0.13 |
| USD | HCP INC 3.40000% 15-01.02.25 | 5 000 000.00 | 5 493 644.00 | 0.21 |
| USD | HCP INC 4.00000% 15-01.06.25 | 7 132 000.00 | 8 061 487.88 | 0.31 |
| USD | HOME DEPOT INC/THE 2.95000% 19-15.06.29 | 5 000 000.00 | 5 662 520.50 | 0.22 |
| USD | HSBC HOLDINGS PLC 4.30000% 16-08.03.26 | 5 441 000.00 | 6 247 330.09 | 0.24 |
| USD | HSBC HOLDINGS PLC-SUB 4.37500% 16-23.11.26 | 1 750 000.00 | 2 000 762.75 | 0.08 |
| USD | HUMANA INC 3.12500% 19-15.08.29 | 5 000 000.00 | 5 546 064.50 | 0.21 |
| USD | HUMANA INC 3.95000% 17-15.03.27 | 2 000 000.00 | 2 301 555.40 | 0.09 |
| USD | INTEL CORP 2.45000% 19-15.11.29 | 11 304 000.00 | 12 360 543.06 | 0.47 |
| USD | INTERCONTINENTAL EXCHANGE INC 2.10000% 20-15.06.30 | 9 000 000.00 | 9 407 565.90 | 0.36 |
| USD | INTERNATIONAL BUSINESS MACHINES CORP 3.37500% 13-01.08.23 | 5 487 000.00 | 5 941 088.20 | 0.23 |
| USD | INTERNATIONAL BUSINESS MACHINES CORP 3.45000% 16-19.02.26 | 7 500 000.00 | 8 538 764.25 | 0.33 |
| USD | JPMORGAN CHASE & CO-SUB 3.87500% 14-10.09.24 | 19 500 000.00 | 21 750 984.45 | 0.83 |
| USD | KIA MOTORS CORP-144A 3.00000% 17-25.04.23 | 6 000 000.00 | 6 257 650.20 | 0.24 |
| USD | KINDER MORGAN INC 3.15000% 17-15.01.23 | 7 500 000.00 | 7 874 938.50 | 0.30 |
| USD | KINROSS GOLD CORP 5.95000% 14-15.03.24 | 2 250 000.00 | 2 569 076.09 | 0.10 |
| USD | KROGER CO 3.50000% 16-01.02.26 | 2 000 000.00 | 2 243 564.40 | 0.09 |
| USD | LENNAR CORP 4.75000% 18-29.11.27 | 5 000 000.00 | 5 931 250.00 | 0.23 |
| USD | LLOYDS BANKING GROUP PLC-SUB 4.58200% 16-10.12.25 | 4 000 000.00 | 4 502 171.20 | 0.17 |
| USD | LLOYDS BANKING GROUP PLC-SUB 4.50000% 14-04.11.24 | 1 293 000.00 | 1 438 363.33 | 0.05 |
| USD | LLOYDS BANKING GROUP PLC 3.00000% 17-11.01.22 | 7 805 000.00 | 8 024 603.82 | 0.31 |
| USD | MARATHON PETROLEUM CORP 4.75000% 19-15.12.23 | 4 000 000.00 | 4 415 322.80 | 0.17 |
| USD | MASCO CORP 2.00000% 20-01.10.30 | 2 700 000.00 | 2 739 336.03 | 0.10 |
| USD | MASTERCARD INC 3.35000% 20-26.03.30 | 2 445 000.00 | 2 872 515.10 | 0.11 |
| USD | MERCK & CO INC 1.45000% 20-24.06.30 | 12 000 000.00 | 12 202 026.00 | 0.47 |
| USD | MITSUBISHI UFJ FINANCIAL GROUP INC 3.45500% 18-02.03.23 | 14 500 000.00 | 15 416 980.00 | 0.59 |
| USD | MITSUBISHI UFJ FINANCIAL GRP INC 2.19300% 20-25.02.25 | 12 000 000.00 | 12 600 240.00 | 0.48 |
| USD | MIZUHO FINANCIAL GROUP INC 2.60100% 17-11.09.22 | 7 250 000.00 | 7 519 700.00 | 0.29 |
| USD | MORGAN STANLEY-SUB 4.87500% 12-01.11.22 | 7 500 000.00 | 8 104 229.99 | 0.31 |
| USD | MORGAN STANLEY-SUB 5.00000% 13-24.11.25 | 5 000 000.00 | 5 958 393.00 | 0.23 |
| USD | MPLX LP 4.87500% 16-01.12.24 | 5 525 000.00 | 6 260 572.53 | 0.24 |
| USD | NATWEST GROUP PLC 4.80000% 16-05.04.26 | 10 000 000.00 | 11 690 012.00 | 0.45 |
| USD | NIKE INC 2.75000% 20-27.03.27 | 8 764 000.00 | 9 729 971.59 | 0.37 |
| USD | NUCOR CORP 2.00000% 20-01.06.25 | 5 000 000.00 | 5 252 870.50 | 0.20 |
| USD | NVIDIA CORP 2.85000% 20-01.04.30 | 2 560 000.00 | 2 868 664.84 | 0.11 |
| USD | OCCIDENTAL PETROLEUM CORP 2.90000% 19-15.08.24 | 7 000 000.00 | 6 527 500.00 | 0.25 |
| USD | ORACLE CORP 2.80000% 20-01.04.27 | 22 500 000.00 | 24 777 675.00 | 0.95 |
| USD | OVINTIV INC 3.90000% 11-15.11.21 | 2 370 000.00 | 2 387 066.84 | 0.09 |
| USD | PAYPAL HOLDINGS INC 2.30000% 20-01.06.30 | 10 825 000.00 | 11 630 021.69 | 0.44 |
| USD | PEPSICO INC 1.62500% 20-01.05.30 | 6 232 000.00 | 6 416 502.10 | 0.25 |
| USD | PFIZER INC 2.62500% 20-01.04.30 | 6 390 000.00 | 7 105 607.79 | 0.27 |
| USD | PUBLIC STORAGE 3.09400% 17-15.09.27 | 5 000 000.00 | 5 609 172.00 | 0.21 |
| USD | PUBLIC STORAGE 3.38500% 19-01.05.29 | 3 000 000.00 | 3 454 865.40 | 0.13 |
| USD | QUALCOMM INC 2.90000% 17-20.05.24 | 8 000 000.00 | 8 614 749.60 | 0.33 |
| USD | QUALCOMM INC 3.25000% 17-20.05.27 | 2 250 000.00 | 2 550 607.65 | 0.10 |
| USD | QUANTA SERVICES INC 2.90000% 20-01.10.30 | 10 500 000.00 | 11 237 208.15 | 0.43 |
| USD | RABOBANK NEDERLAND-SUB 4.62500% 13-01.12.23 | 1 750 000.00 | 1 947 830.85 | 0.07 |
| USD | ROPER TECHNOLOGIES INC 2.00000% 20-30.06.30 | 4 000 000.00 | 4 111 816.40 | 0.16 |
| USD | ROPER TECHNOLOGIES INC 1.40000% 20-15.09.27 | 5 000 000.00 | 5 059 880.50 | 0.19 |
| USD | SABINE PASS LIQUEFACTION LLC 5.75000% 14-15.05.24 | 5 000 000.00 | 5 692 764.00 | 0.22 |
| USD | SABINE PASS LIQUEFACTION LLC 5.00000% 17-15.03.27 | 4 850 000.00 | 5 616 672.97 | 0.21 |
| USD | SANTANDER UK GROUP HOLD PLC 3.57100% 17-10.01.23 | 1 098 000.00 | 1 131 972.12 | 0.04 |
| USD | SANTANDER UK PLC 2.10000% 20-13.01.23 | 8 000 000.00 | 8 265 040.00 | 0.32 |
| USD | SEMPRA ENERGY 3.25000% 17-15.06.27 | 3 188 000.00 | 3 530 529.56 | 0.13 |
| USD | SHELL INTERNATIONAL FINANCE 2.37500% 20-06.04.25 | 16 000 000.00 | 17 118 163.20 | 0.65 |
| USD | SHERWIN-WILLIAMS CO 3.12500% 17-01.06.24 | 4 000 000.00 | 4 334 390.80 | 0.17 |
| USD | SOUTHWEST AIRLINES CO 2.75000% 17-16.11.22 | 5 500 000.00 | 5 679 287.35 | 0.22 |
| USD | SOUTHWEST AIRLINES CO 3.45000% 17-16.11.27 | 19 440 000.00 | 20 577 969.00 | 0.79 |
| USD | SOUTHWEST AIRLINES CO 2.62500% 20-10.02.30 | 5 500 000.00 | 5 445 375.21 | 0.21 |
| USD | STEEL DYNAMICS INC 5.00000% 17-15.12.26 | 3 500 000.00 | 3 735 634.35 | 0.14 |
| USD | SUMITOMO MITSUI FIN GP INC 3.93600% 18-16.10.23 | 10 000 000.00 | 10 931 300.00 | 0.42 |
| USD | SYNGENTA FINANCE NV-144A 4.44100% 18-24.04.23 | 7 000 000.00 | 7 386 200.50 | 0.28 |
| USD | SYSCO CORP 2.40000% 20-15.02.30 | 5 000 000.00 | 5 226 513.50 | 0.20 |
| USD | SYSCO CORP 5.65000% 20-01.04.25 | 1 000 000.00 | 1 191 973.10 | 0.05 |
| USD | TRUIST BANK-SUB 3.30000% 16-15.05.26 | 27 494 000.00 | 30 753 540.17 | 1.18 |
| USD | UNION PACIFIC CORP 3.95000% 18-10.09.28 | 5 500 000.00 | 6 515 370.95 | 0.25 |
| USD | UNION PACIFIC CORP 3.70000% 19-01.03.29 | 5 000 000.00 | 5 863 559.50 | 0.22 |

UBS (Lux) Bond SICAV – USD Investment Grade 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 | UNITED RENTALS NORTH AMERICA INC 5.50000% 16-15.05.27 | 2 000 000.00 | 2 151 250.00 | 0.08 |
| USD | UNITED RENTALS NORTH AMERICA INC 3.87500% 19-15.11.27 | 11 000 000.00 | 11 527 230.00 | 0.44 |
| USD | UNITED RENTALS NORTH AMERICA INC 4.00000% 20-15.07.30 | 2 200 000.00 | 2 315 500.00 | 0.09 |
| USD | UNITED TECHNOLOGIES CORP 4.12500% 18-16.11.28 | 5 000 000.00 | 5 968 345.50 | 0.23 |
| USD | UNITED TECHNOLOGIES CORP 3.95000% 18-16.08.25 | 7 000 000.00 | 8 001 186.90 | 0.31 |
| USD | UNITEDHEALTH GROUP INC 3.50000% 18-15.02.24 | 5 000 000.00 | 5 479 712.50 | 0.21 |
| USD | UNITEDHEALTH GROUP INC 2.00000% 20-15.05.30 | 11 210 000.00 | 11 914 981.20 | 0.46 |
| USD | VALE OVERSEAS LTD 3.75000% 20-08.07.30 | 3 000 000.00 | 3 293 100.00 | 0.13 |
| USD | VALERO ENERGY CORP 2.70000% 20-15.04.23 | 4 000 000.00 | 4 158 305.20 | 0.16 |
| USD | VERIZON COMMUNICATIONS INC 3.37600% 18-15.02.25 | 2 514 000.00 | 2 792 371.70 | 0.11 |
| USD | VERIZON COMMUNICATIONS INC 4.32900% 18-21.09.28 | 11 116 000.00 | 13 493 961.40 | 0.52 |
| USD | VERIZON COMMUNICATIONS INC 3.15000% 20-22.03.30 | 5 305 000.00 | 5 973 855.46 | 0.23 |
| USD | VISA INC 1.10000% 20-15.02.31 | 9 000 000.00 | 8 827 445.34 | 0.34 |
| USD | VMWARE INC 3.90000% 17-21.08.27 | 8 000 000.00 | 8 957 737.60 | 0.34 |
| USD | WALGREENS BOOTS ALLIANCE INC 3.80000% 14-18.11.24 | 5 500 000.00 | 6 101 279.25 | 0.23 |
| USD | WALT DISNEY CO 2.00000% 19-01.09.29 | 6 000 000.00 | 6 239 526.60 | 0.24 |
| USD | WALT DISNEY CO 3.70000% 19-15.09.24 | 2 250 000.00 | 2 491 796.02 | 0.10 |
| USD | WESTERN DIGITAL CORP 4.75000% 18-15.02.26 | 6 800 000.00 | 7 426 875.00 | 0.28 |
| USD | WESTPAC BANKING CORP 2.70000% 16-19.08.26 | 9 661 000.00 | 10 595 701.75 | 0.41 |
| USD | WEYERHAEUSER CO 4.00000% 20-15.04.30 | 3 500 000.00 | 4 109 465.50 | 0.16 |
| USD | WILLIAMS COS INC/THE 3.75000% 17-15.06.27 | 1 250 000.00 | 1 407 244.00 | 0.05 |
| USD | WILLIAMS COS INC/THE LP 3.35000% 12-15.08.22 | 10 000 000.00 | 10 434 236.00 | 0.40 |
| USD | ZOETIS INC 3.90000% 18-20.08.28 | 5 000 000.00 | 5 914 794.50 | 0.23 |
| Total USD |  |  | 1 473 400 913.85 | 56.33 |
| Total Notes, fixed rate |  | 1 473 400 913.85 | 56.33 |
| Notes, floating rate |  |  |  |
| USD |  |  |  |
| USD	BANK OF AMERICA CORP 3.366%/VAR 18-23.01.26 | 12 000 000.00 | 13 161 058.80 | 0.50 |
| USD	BANK OF AMERICA CORP 3.419%/VAR 18-20.12.28 | 5 875 000.00 | 6 615 737.62 | 0.25 |
| USD	BK OF AMERICA CORP 3.004%/VAR 18-20.12.23 | 20 954 000.00 | 22 003 376.32 | 0.84 |
| USD	CITIGROUP INC 2.876%/VAR 17-24.07.23 | 13 000 000.00 | 13 505 440.00 | 0.52 |
| USD	GOLDMAN SACHS GROUP INC 3.691%/VAR 17-05.06.28 | 6 500 000.00 | 7 453 654.00 | 0.28 |
| USD	GOLDMAN SACHS GROUP INC 3.272%/VAR 17-29.09.25 | 5 000 000.00 | 5 451 786.50 | 0.21 |
| USD	HSBC HOLDINGS PLC 3.262%/VAR 17-13.03.23 | 4 500 000.00 | 4 654 059.75 | 0.18 |
| USD	HSBC HOLDINGS PLC 3.803%/VAR 19-11.03.25 | 6 000 000.00 | 6 528 569.40 | 0.25 |
| USD	HSBC HOLDINGS PLC 3.973%/VAR 19-22.05.30 | 8 500 000.00 | 9 793 994.11 | 0.38 |
| USD	JPMORGAN CHASE & CO 3.702%/VAR 19-06.05.30 | 10 000 000.00 | 11 546 098.00 | 0.44 |
| USD	JPMORGAN CHASE & CO 2.301%/VAR 19-15.10.25 | 14 267 000.00 | 15 086 039.93 | 0.58 |
| USD	JPMORGAN CHASE & CO 2.182%/VAR 20-01.06.28 | 14 000 000.00 | 14 710 015.60 | 0.56 |
| USD	MIZUHO FINANCIAL GROUP INC 2.839%/3M LIBOR+98BP 19-16.07.25 | 6 000 000.00 | 6 355 380.00 | 0.24 |
| USD	WELLS FARGO & CO 2.188%/VAR 20-30.04.26 | 5 000 000.00 | 5 233 784.50 | 0.20 |
| USD	WESTPAC BANKING CORP-SUB 2.668%/VAR 20-15.11.35 | 5 000 000.00 | 5 113 200.00 | 0.20 |
| Total USD |  | 147 212 194.53 | 5.63 |
| Total Notes, floating rate |  | 147 212 194.53 | 5.63 |
| Medium term notes, fixed rate |  |  |  |
| USD |  |  |  |
| USD	AIR LEASE CORP 2.30000% 20-01.02.25 | 10 150 000.00 | 10 293 069.33 | 0.39 |
| USD	BANK OF AMERICA CORP-SUB 4.20000% 14-26.08.24 | 5 500 000.00 | 6 157 387.50 | 0.24 |
| USD	BANK OF AMERICA CORP-SUB 4.25000% 14-22.10.26 | 14 500 000.00 | 16 935 369.25 | 0.65 |
| USD	BANK OF AMERICA CORP-SUB 4.45000% 16-03.03.26 | 14 500 000.00 | 16 930 321.80 | 0.65 |
| USD	BANK OF AMERICA CORP 3.24800% 16-21.10.27 | 10 000 000.00 | 11 117 686.00 | 0.42 |
| USD	BANK OF NEW YORK CO 1.85000% 20-27.01.23 | 5 000 000.00 | 5 157 086.50 | 0.20 |
| USD	DEUTSCHE BANK AG/NEW YORK NY 3.12500% 18-13.01.21 | 3 926 000.00 | 3 935 539.39 | 0.15 |
| USD	FORD MOTOR CREDIT CO LLC 4.38900% 16-08.01.26 | 3 470 000.00 | 3 608 800.00 | 0.14 |
| USD	MORGAN STANLEY-SUB 3.95000% 15-23.04.27 | 25 000 000.00 | 28 807 842.50 | 1.10 |
| USD	MORGAN STANLEY-SUB 4.10000% 13-22.05.23 | 1 750 000.00 | 1 894 930.10 | 0.07 |
| USD	ROYAL BANK OF CANADA 3.70000% 18-05.10.23 | 3 000 000.00 | 3 277 110.00 | 0.12 |
| USD	SAUDI ARABIAN OIL CO-144A 2.87500% 19-16.04.24 | 7 750 000.00 | 8 185 937.50 | 0.31 |
| USD	SAUDI ARABIAN OIL CO-144A 3.50000% 19-16.04.29 | 5 000 000.00 | 5 531 250.00 | 0.21 |
| USD	US BANCORP-SUB 3.60000% 14-11.09.24 | 5 875 000.00 | 6 495 335.38 | 0.25 |
| USD	WELLS FARGO & CO 3.75000% 19-24.01.24 | 10 000 000.00 | 10 863 648.00 | 0.42 |
| USD	WELLS FARGO & CO-SUB 4.10000% 14-03.06.26 | 13 500 000.00 | 15 531 829.65 | 0.59 |
| Total USD |  | 154 723 142.90 | 5.91 |
| Total Medium term notes, fixed rate |  | 154 723 142.90 | 5.91 |
| Medium term notes, floating rate |  |  |  |
| USD |  |  |  |
| USD	BANK OF AMERICA CORP 3.124%/VAR 17-20.01.23 | 5 000 000.00 | 5 149 545.50 | 0.20 |
| USD	BANK OF AMERICA CORP 3.970%/3M LIBOR+107BP 18-05.03.29 | 3 399 000.00 | 3 954 147.12 | 0.15 |
| USD	BANK OF AMERICA CORP 2.015%/3M LIBOR+64BP 20-13.02.26 | 5 500 000.00 | 5 739 429.30 | 0.22 |
| USD	WELLS FARGO & CO 2.164%/VAR 20-11.02.26 | 7 500 000.00 | 7 847 118.75 | 0.30 |
| USD	WELLS FARGO & CO 2.406%/VAR 19-30.10.25 | 1 710 000.00 | 1 803 173.45 | 0.07 |
| Total USD |  | 24 493 414.12 | 0.94 |
| Total Medium term notes, floating rate |  | 24 493 414.12 | 0.94 |
| Bonds, fixed rate |  |  |  |
| USD |  |  |  |
| USD	BALL CORP 4.87500% 18-15.03.26 | 1 000 000.00 | 1 125 410.00 | 0.04 |
| USD	COMCAST CORP 3.15000% 17-15.02.28 | 5 000 000.00 | 5 635 555.50 | 0.22 |
| USD	DUKE ENERGY CAROLINAS LLC 2.45000% 20-01.02.30 | 11 500 000.00 | 12 388 402.60 | 0.47 |
| USD	ENERGY TRANSFER LP/REGENCY FIN CORP 5.87500% 14-01.03.22 | 2 000 000.00 | 2 095 154.80 | 0.08 |
| USD	ENERGY TRANSFER OPERATING LP 4.25000% 19-15.03.23 | 3 000 000.00 | 3 157 903.80 | 0.12 |
| USD	ENERGY TRANSFER OPERATING LP 5.50000% 19-01.06.27 | 15 000 000.00 | 17 281 003.50 | 0.66 |
| USD	ENERGY TRANSFER PARTNERS LP 4.90000% 13-01.02.24 | 4 500 000.00 | 4 887 193.95 | 0.19 |
| USD	GENERAL MOTORS FINANCIAL CO INC 3.45000% 17-14.01.22 | 4 009 000.00 | 4 118 884.29 | 0.16 |

UBS (Lux) Bond SICAV – USD Investment Grade 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 | GOLDMAN SACHS GROUP INC/THE 3.85000% 17-26.01.27 | 7 962 000.00 | 9 099 987.16 | 0.35 |
| USD | HEATHROW FUNDING LTD-144A 4.87500% 11-15.07.21 | 1 200 000.00 | 1 227 113.40 | 0.05 |
| USD | HEATHROW FUNDING LTD-REG-S 4.87500% 11-15.07.21 | 1 830 000.00 | 1 874 787.78 | 0.07 |
| USD | JP MORGAN CHASE & CO-SUB 4.25000% 15-01.10.27 | 10 000 000.00 | 11 787 235.00 | 0.45 |
| USD | NATIONAL RURAL UTILITIES COOP FIN CORP 3.90000% 18-01.11.28 | 10 000 000.00 | 11 785 014.00 | 0.45 |
| USD | PACIFIC GAS & ELECTRIC CO 1.75000% 20-16.06.22 | 7 250 000.00 | 7 261 444.12 | 0.28 |
| USD | PACIFIC GAS & ELECTRIC CO 2.10000% 20-01.08.27 | 5 000 000.00 | 5 028 061.00 | 0.19 |
| USD | PACIFIC GAS AND ELECTRIC CO 3.15000% 20-01.01.26 | 6 000 000.00 | 6 340 329.60 | 0.24 |
| USD | PNC BANK NATIONAL ASSOCIATION-SUB 2.70000% 12-01.11.22 | 4 625 000.00 | 4 819 792.05 | 0.18 |
| USD | REYNOLDS AMERICAN INC 4.45000% 15-12.06.25 | 5 000 000.00 | 5 702 761.50 | 0.22 |
| USD | SOUTHERN CALIFORNIA EDISON CO 3.70000% 18-01.08.25 | 7 000 000.00 | 7 851 354.70 | 0.30 |
| USD | SOUTHERN CALIFORNIA EDISON CO 2.85000% 19-01.08.29 | 3 000 000.00 | 3 246 604.80 | 0.12 |
| Total USD |  |  | 126 713 993.55 | 4.84 |
| Total Bonds, fixed rate |  | 126 713 993.55 | 4.84 |
| Bonds, floating rate |  |  |  |
| USD |  |  |  |
| USD	BP CAPITAL MARKETS PLC-SUB 4.375%/VAR 20-PRP | 8 500 000.00 | 9 073 665.00 | 0.35 |
| USD	DEUTSCHE TELEKOM INTL FIN 8.250%/RATING LINKED 00-15.06.30 | 2 250 000.00 | 3 571 499.92 | 0.14 |
| USD	GOLDMAN SACHS GROUP INC 4.223%/VAR 18-01.05.29 | 10 000 000.00 | 11 874 939.00 | 0.45 |
| Total USD |  | 24 520 103.92 | 0.94 |
| Total Bonds, floating rate |  | 24 520 103.92 | 0.94 |
| Total Transferable securities and money market instruments listed on an official stock exchange |  | 1 951 063 762.87 | 74.59 |
| 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 | 2 000 000.00 | 1 791 220.00 | 0.07 |
| USD	WP GLIMCHER MALL TRUST-144A-SUB VAR 15-01.06.35 | 10 200 000.00 | 8 454 654.54 | 0.32 |
| Total USD |  | 10 245 874.54 | 0.39 |
| Total Mortgage Backed Securities, floating rate |  | 10 245 874.54 | 0.39 |
| Notes, fixed rate |  |  |  |
| USD |  |  |  |
| USD	AKER BP ASA-144A 3.00000% 20-15.01.25 | 7 000 000.00 | 7 118 761.30 | 0.27 |
| USD	AMERICAN ELECTRIC POWER INC 2.95000% 12-15.12.22 | 5 250 000.00 | 5 478 550.87 | 0.21 |
| USD	AT&T INC 4.12500% 16-17.02.26 | 5 000 000.00 | 5 794 597.50 | 0.22 |
| USD	AXA EQUITABLE HOLDINGS INC 4.35000% 19-20.04.28 | 6 000 000.00 | 7 098 537.00 | 0.27 |
| USD	BACARDI LTD-144A 4.45000% 18-15.05.25 | 11 000 000.00 | 12 409 492.70 | 0.47 |
| USD	BAXTER INTERNATIONAL INC-144A 3.95000% 20-01.04.30 | 5 875 000.00 | 7 037 236.56 | 0.27 |
| USD	BRISTOL MYERS SQUIBB CO 3.62500% 20-15.05.24 | 5 000 000.00 | 5 475 841.50 | 0.21 |
| USD	BRISTOL-MYERS SQUIBB CO 4.00000% 20-15.08.23 | 8 000 000.00 | 8 798 159.20 | 0.34 |
| USD	BROADCOM INC 3.15000% 20-15.11.25 | 4 000 000.00 | 4 346 348.80 | 0.17 |
| USD	BROADCOM INC 4.11000% 20-15.09.28 | 5 311 000.00 | 6 083 959.75 | 0.23 |
| USD	BROADCOM INC 4.25000% 20-15.04.26 | 4 000 000.00 | 4 568 540.80 | 0.17 |
| USD	CCO HOLDINGS LLC/CAPITAL CORP-144A 5.50000% 16-01.05.26 | 5 000 000.00 | 5 207 500.00 | 0.20 |
| USD	CCO HOLDINGS LLC/CAPITAL CORP-144A 4.75000% 19-01.03.30 | 2 000 000.00 | 2 121 900.00 | 0.08 |
| USD	CENTENE CORP 4.62500% 20-15.12.29 | 1 100 000.00 | 1 205 875.00 | 0.05 |
| USD	CENTENE CORP-144A 5.37500% 18-01.06.26 | 2 550 000.00 | 2 680 687.50 | 0.10 |
| USD	CHENIERE CORPUS CHRISTI HLDGS LLC 5.12500% 17-30.06.27 | 3 500 000.00 | 4 061 222.20 | 0.16 |
| USD	CHEVRON PHILLIPS CHEMICAL CO LLC-144A 3.30000% 18-01.05.23 | 2 500 000.00 | 2 644 996.00 | 0.10 |
| USD	CHEVRON PHILLIPS CHEMICAL CO LLC-144A 3.70000% 18-01.06.28 | 7 000 000.00 | 7 859 238.10 | 0.30 |
| USD	CITIGROUP INC-SUB 4.60000% 16-09.03.26 | 5 000 000.00 | 5 840 386.00 | 0.22 |
| USD	COSTCO WHOLESALE CORP 1.60000% 20-20.04.30 | 9 000 000.00 | 9 228 609.00 | 0.35 |
| USD	DELL INTERNATIONAL LLC / EMC CORP-144A 5.45000% 16-15.06.23 | 2 500 000.00 | 2 759 914.25 | 0.11 |
| USD	DELL INTERNATIONAL LLC / EMC CORP-144A 6.02000% 16-15.06.26 | 12 000 000.00 | 14 570 354.40 | 0.56 |
| USD	DELL INTERNATIONAL LLC / EMC CORP-144A 7.12500% 16-15.06.24 | 5 500 000.00 | 5 699 375.00 | 0.22 |
| USD	DTE ENERGY CO 3.85000% 13-01.12.23 | 6 011 000.00 | 6 537 681.41 | 0.25 |
| USD	ELANCO ANIMAL HEALTH INC 4.27200% 19-28.08.23 | 1 403 000.00 | 1 524 310.39 | 0.06 |
| USD	ENEL FINANCE INTERNATIONAL NV-144A 3.62500% 17-25.05.27 | 2 500 000.00 | 2 836 409.75 | 0.11 |
| USD	ENEL FINANCE INTERNATIONAL NV-144A 2.87500% 17-25.05.22 | 5 000 000.00 | 5 165 390.00 | 0.20 |
| USD	ERAC USA FINANCE LLC-144A 3.85000% 14-15.11.24 | 7 250 000.00 | 8 055 469.92 | 0.31 |
| USD	ERAC USA FINANCE LLC-144A 2.70000% 16-01.11.23 | 3 545 000.00 | 3 749 425.61 | 0.14 |
| USD	FIVE CORNERS FUNDING TRUST II -144A 2.85000% 20-15.05.30 | 10 000 000.00 | 11 164 723.00 | 0.43 |
| USD	GE CAPITAL FUNDING LLC-144A 3.45000% 20-15.05.25 | 5 000 000.00 | 5 433 977.00 | 0.21 |
| USD	GENERAL MOTORS FINANCIAL CO INC 4.25000% 14-15.05.23 | 6 500 000.00 | 7 002 540.35 | 0.27 |
| USD	GLENCORE FUNDING LLC-144A 4.12500% 19-12.03.24 | 6 000 000.00 | 6 537 570.00 | 0.25 |
| USD	GLP CAPITAL LP / GLP FINANC II INC 4.00000% 19-15.01.30 | 8 000 000.00 | 8 576 800.00 | 0.33 |
| USD	HARLEY-DAVIDSON FIN.SERV INC-144A 3.35000% 18-15.02.23 | 11 500 000.00 | 11 940 244.15 | 0.46 |
| USD	HCA INC 5.00000% 14-15.03.24 | 6 750 000.00 | 7 591 754.70 | 0.29 |
| USD	INFOR INC-144A 1.45000% 20-15.07.23 | 3 000 000.00 | 3 046 378.20 | 0.12 |
| USD	JPMORGAN CHASE & CO-SUB 3.62500% 16-01.12.27 | 12 500 000.00 | 14 177 342.50 | 0.54 |
| USD	KINDER MORGAN INC-144A 5.62500% 13-15.11.23 | 3 225 000.00 | 3 645 192.67 | 0.14 |
| USD	LEVEL 3 FINANCING INC-144A 3.40000% 19-01.03.27 | 8 150 000.00 | 8 794 502.00 | 0.34 |
| USD	MARATHON OIL CORP 2.80000% 12-01.11.22 | 1 357 000.00 | 1 398 956.67 | 0.05 |
| USD	METROPOLITAN EDISON CO-144A 3.50000% 13-15.03.23 | 1 315 000.00 | 1 371 677.69 | 0.05 |
| USD	METROPOLITAN LIFE GLOBAL FUNDING-144A 0.90000% 20-08.06.23 | 10 000 000.00 | 10 132 768.00 | 0.39 |
| USD	MORGAN STANLEY 3.87500% 14-29.04.24 | 13 500 000.00 | 14 927 423.85 | 0.57 |
| USD	MPLX LP 3.50000% 20-01.12.22 | 3 000 000.00 | 3 144 641.70 | 0.12 |
| USD	NESTLE HOLDINGS INC-144A 0.62500% 20-15.01.26 | 12 500 000.00 | 12 427 079.00 | 0.47 |
| USD	NORDEA BANK ABP-144A-SUB 4.25000% 12-21.09.22 | 2 500 000.00 | 2 657 025.75 | 0.10 |
| USD	NOVA CHEMICALS CORP-144A 4.87500% 17-01.06.24 | 3 000 000.00 | 3 090 000.00 | 0.12 |
| USD	NRG ENERGY INC-144A 3.75000% 19-15.06.24 | 1 975 000.00 | 2 125 611.92 | 0.08 |
| USD	NXP BV / NXP FUNDING LLC-144A 5.55000% 18-01.12.28 | 12 000 000.00 | 15 101 842.80 | 0.58 |
| USD	NXP BV / NXP FUNDING LLC-144A 4.87500% 18-01.03.24 | 10 000 000.00 | 11 277 958.00 | 0.43 |
| USD	OTIS WORLDWIDE CORP 2.05600% 20-05.04.25 | 13 000 000.00 | 13 674 337.30 | 0.52 |

UBS (Lux) Bond SICAV – USD Investment Grade 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 | PRINCIPAL FINANCIAL GROUP 3.12500% 12-15.05.23 | 5 000 000.00 | 5 335 885.50 | 0.20 |
| USD | RAYTHEON TECHNOLOGIES CORP-144A 3.50000% 20-15.03.27 | 6 000 000.00 | 6 821 684.40 | 0.26 |
| USD | SOCIETE GENERALE-144A 2.62500% 19-16.10.24 | 10 000 000.00 | 10 504 846.00 | 0.40 |
| USD | UPJOHN INC-144A 2.30000% 20-22.06.27 | 3 500 000.00 | 3 688 046.95 | 0.14 |
| USD | VOLKSWAGEN GRP OF AMERICA FINANCE-144A 4.62500% 18-13.11.25 | 10 000 000.00 | 11 612 868.00 | 0.44 |
| Total USD |  |  | 383 162 448.61 | 14.65 |
| Total Notes, fixed rate |  | 383 162 448.61 | 14.65 |
| Medium term notes, fixed rate |  |  |  |
| USD |  |  |  |
| USD	HYUNDAI CAPITAL AMERICA-144A 3.25000% 17-20.09.22 | 10 000 000.00 | 10 401 045.00 | 0.40 |
| USD	INTESA SANPAOLO SPA-144A 6.50000% 11-24.02.21 | 7 500 000.00 | 7 592 998.50 | 0.29 |
| USD	NATIONAL AUSTRALIA BANK LTD-144A-SUB 2.33200% 20-21.08.30 | 7 105 000.00 | 7 084 608.65 | 0.27 |
| USD	WELLS FARGO & CO 3.00000% 15-19.02.25 | 4 000 000.00 | 4 336 112.40 | 0.17 |
| USD	WELLS FARGO & CO-SUB 4.30000% 15-22.07.27 | 5 000 000.00 | 5 832 786.00 | 0.22 |
| Total USD |  | 35 247 550.55 | 1.35 |
| Total Medium term notes, fixed rate |  | 35 247 550.55 | 1.35 |
| Medium term notes, floating rate |  |  |  |
| USD |  |  |  |
| USD	AUSTRALIA & NEWZEALAND BKG-144A-SUB 2.950%/VAR 20-22.07.30 | 2 650 000.00 | 2 769 859.50 | 0.10 |
| USD	COMMONWEALTH BANK AUSRALIA-144A-SUB 3.610%/VAR 19-12.09.34 | 2 080 000.00 | 2 269 092.80 | 0.09 |
| USD	COOPERATIEVE RABOBANK UA-144A 1.339%/VAR 20-24.06.26 | 10 200 000.00 | 10 355 611.20 | 0.40 |
| Total USD |  | 15 394 563.50 | 0.59 |
| Total Medium term notes, floating rate |  | 15 394 563.50 | 0.59 |
| Bonds, fixed rate |  |  |  |
| USD |  |  |  |
| USD	AERCAP IRE CAP LTD/GLB AVIA TRUST 4.62500% 15-01.07.22 | 10 000 000.00 | 10 492 153.00 | 0.40 |
| USD	AMERICA MOVIL SAB DE CV 3.12500% 12-16.07.22 | 5 950 000.00 | 6 188 000.00 | 0.24 |
| USD	COMMONWEALTH BK OF AUSTRALIA-144A-SUB 4.50000% 15-09.12.25 | 5 000 000.00 | 5 687 200.00 | 0.22 |
| USD	FIVE CORNERS FUNDING TRUST-144A 4.41900% 13-15.11.23 | 10 000 000.00 | 11 127 706.00 | 0.42 |
| USD	NGPL PIPECO LLC-144A 4.87500% 17-15.08.27 | 9 500 000.00 | 10 621 901.55 | 0.40 |
| Total USD |  | 44 116 960.55 | 1.68 |
| Total Bonds, fixed rate |  | 44 116 960.55 | 1.68 |
| Total Transferable securities and money market instruments traded on another regulated market |  | 488 167 397.75 | 18.66 |

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 | FIFTH THIRD BANK 1.80000% 20-30.01.23 | 8 000 000.00 | 8 233 485.60 | 0.31 |
| USD | RAYTHEON TECHNOLOGIES CORP-144A 3.20000% 20-15.03.24 | 5 000 000.00 | 5 388 068.50 | 0.21 |
| USD | TECK RESOURCES LTD 3.90000% 20-15.07.30 | 5 000 000.00 | 5 455 505.00 | 0.21 |
| Total USD |  |  | 19 077 059.10 | 0.73 |
| Total Notes, fixed rate |  | 19 077 059.10 | 0.73 |
| Total Transferable securities and money market instruments not listed on an official stock exchange and not traded on another regulated market |  | 19 077 059.10 | 0.73 |
| Recently issued transferable securities and money market instruments |  |  |  |
| Notes, fixed rate |  |  |  |
| USD |  |  |  |
| USD	AES CORP-144A 1.37500% 20-15.01.26 | 6 500 000.00 | 6 554 785.90 | 0.25 |
| USD	AUSTRALIA & NEW ZEALAND BANK-144A-SUB 2.57000% 20-25.11.35 | 10 000 000.00 | 10 169 343.00 | 0.39 |
| USD	CARRIER GLOBAL CORP-144A 2.72200% 20-15.02.30 | 6 500 000.00 | 6 924 827.65 | 0.27 |
| USD	CARRIER GLOBAL CORP-144A 2.24200% 20-15.02.25 | 5 000 000.00 | 5 250 726.50 | 0.20 |
| USD	CARRIER GLOBAL CORP-144A 2.49300% 20-15.02.27 | 2 000 000.00 | 2 136 287.20 | 0.08 |
| USD	GE CAPITAL FUNDING LLC-144A 4.40000% 20-15.05.30 | 3 000 000.00 | 3 456 255.60 | 0.13 |
| USD	GRAPHIC PACKAGING INTERNATIONL INC-144A 3.50000% 20-15.03.28 | 8 250 000.00 | 8 598 232.50 | 0.33 |
| USD	SEAGATE HDD CAYMAN-144A 4.09100% 20-01.06.29 | 2 000 000.00 | 2 211 840.00 | 0.08 |
| Total USD |  | 45 302 298.35 | 1.73 |
| Total Notes, fixed rate |  | 45 302 298.35 | 1.73 |
| Notes, floating rate |  |  |  |
| USD |  |  |  |
| USD	BNP PARIBAS-144A 3.052%/VAR 20-13.01.31 | 3 650 000.00 | 3 962 454.23 | 0.15 |
| Total USD |  | 3 962 454.23 | 0.15 |
| Total Notes, floating rate |  | 3 962 454.23 | 0.15 |

UBS (Lux) Bond SICAV – USD Investment Grade 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) |  |

Medium term notes, fixed rate
USD
| USD | SOCIETE GENERALE SA-144A 2.62500% 20-22.01.25 | 8 000 000.00 | 8 416 268.80 | 0.33 |
| --- | --- | --- | --- | --- |
| Total USD | 8 416 268.80 | 0.33 |
| Total Medium term notes, fixed rate | 8 416 268.80 | 0.33 |
| Total Recently issued transferable securities and money market instruments | 57 681 021.38 | 2.21 |
| Total investments in securities | 2 515 989 241.10 | 96.19 |

| Derivative instruments |  |
| --- | --- |
| Derivative instruments listed on an official stock exchange Financial Futures on bonds |
|  |  |  |  |
| USD	US 10YR TREASURY NOTE FUTURE 22.03.21 | -400.00 | -143 750.00 | -0.01 |
| Total Financial Futures on bonds |  | -143 750.00 | -0.01 |
| Total Derivative instruments listed on an official stock exchange |  | -143 750.00 | -0.01 |
| Total Derivative instruments |  | -143 750.00 | -0.01 |
| Forward Foreign Exchange contracts Currency purchased/Amount purchased/Currency sold/Amount sold/Maturity date |  |  |  |

| CHF | 252 784 300.00 | USD | 277 813 947.61 | 21.1.2021 | 1 949 839.17 | 0.07 |
| --- | --- | --- | --- | --- | --- | --- |
| Total Forward Foreign Exchange contracts | 1 949 839.17 | 0.07 |
|  |  |  |
| Cash at banks, deposits on demand and deposit accounts and other liquid assets | 78 517 093.07 | 3.00 |
| Bank overdraft and other short-term liabilities | -10.84 | 0.00 |
| Other assets and liabilities | 19 431 701.67 | 0.75 |
| Total net assets | 2 615 744 114.17 | 100.00 |

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

Translation (ENFR, 2020-11-30):
# UBS (Lux) Bond SICAV
– USD Investment Grade Corporates (USD)
| Données principales |  |
| --- | --- |
|  | ISIN | 30.11.2020 | 31.5.2020 | 31.5.2019 |
| Actif net en USD |  | 2 615 744 114.17 | 2 728 605 428.33 | 2 693 562 132.32 |
| Catégorie F-acc | LU1611257095 |  |  |  |
| Actions en circulation |  | 4 775.5110 | 5 081.0610 | 5 358.2820 |
| Valeur nette d’inventaire par action en USD |  | 117 462.33 | 112 223.79 | 105 453.19 |
| Prix d’émission et de rachat par action en USD 1 |  | 117 462.33 | 112 223.79 | 105 453.19 |
| Catégorie U-X-acc | LU1469614280 |  |  |  |
| Actions en circulation |  | 143 932.8450 | 159 466.8550 | 170 144.1720 |
| Valeur nette d’inventaire par action en USD |  | 12 289.57 | 11 720.07 | 10 973.60 |
| Prix d’émission et de rachat par action en USD 1 |  | 12 289.57 | 11 720.07 | 10 973.60 |
| Catégorie (CHF hedged) U-X-acc | LU1469622465 |  |  |  |
| Actions en circulation |  | 23 394.9160 | 26 196.9160 | 25 622.9160 |
| Valeur nette d’inventaire par action en CHF |  | 11 064.42 | 10 613.93 | 10 262.29 |
| Prix d’émission et de rachat par action en CHF 1 |  | 11 064.42 | 10 613.93 | 10 262.29 |
| 1  Voir note 1 |  |  |  |  |
| Structure du portefeuille-titres |  |  |  |  |

Répartition géographique en % de l’actif net	
Etats-Unis	75.51
Grande-Bretagne	4.98
Pays-Bas	2.86
Japon	2.02
Australie	1.67
France	1.07
Suisse	1.00
Norvège	0.98
Irlande	0.92
Canada	0.88
Espagne	0.80
Italie	0.56
Arabie saoudite	0.52
Guernesey	0.51
Bermudes	0.47
Danemark	0.39
Corée du Sud	0.24
Mexique	0.24
Colombie	0.14
Brésil	0.13
Jersey	0.12
Finlande	0.10
Iles Caïmans	0.08
Total	96.19
Répartition économique en % de l’actif net	
Banques & instituts de crédit	26.43
Etablissements financiers et sociétés de participation	21.33
Distribution d’énergie & d’eau	6.04
Produits pharmaceutiques, cosmétiques & médicaux	4.08
Pétrole	3.96
Télécommunications	3.45
Internet, logiciels et services informatiques	3.02
Equipement informatique et de réseau	2.49
Appareils et composants électriques	2.43
Industrie aéronautique et spatiale	2.12
Electronique et semi-conducteurs	2.02
Soins de santé & services sociaux	1.88
Trafic et transport	1.80
Tabac et boissons alcoolisées	1.60
Assurances	1.42
Industrie graphique, édition et médias	1.38
Immobilier	1.22
Commerce de détail, centres commerciaux	1.14
Machines et appareils	1.09
Alimentation & softs	0.99
Chimie	0.98
Biotechnologie	0.94
Industrie minière, charbon et acier	0.80
Emetteurs d’obligations sécurisées (Pfandbriefe) et
sociétés de refinancement	0.78
Diverses sociétés commerciales	0.64
Bâtiment et matériaux de construction	0.39
Textiles, habillement & maroquinerie	0.37
Véhicules	0.35
Services divers	0.34
Restauration et loisirs	0.33
Organisations supranationales	0.14
Biens de consommation divers	0.10
Métaux non ferreux	0.10
Industrie de conditionnement	0.04
Total	96.19
UBS (Lux) Bond SICAV – USD Investment Grade Corporates (USD) Rapport semestriel au 30 novembre 2020

## Etat des actifs nets
Actif	30.11.2020
USD
Portefeuille-titres, cours d’achat	2 351 285 731.59
| Portefeuille-titres, plus-/(moins)-value non réalisée | 	164 703 509.51	 |
| --- | --- |
| Total du Portefeuille-titres (note 1) | 2 515 989 241.10 |
| Avoirs en banque, dépôts à vue et à terme | 77 751 093.07 |
| Autres liquidités (marges) | 766 000.00 |
| Créances sur souscriptions | 8 459 699.56 |
| Intérêts à recevoir sur titres | 19 864 268.15 |
| Bénéfice non réalisé(e) sur contrats de change à terme (note 1) | 1 949 839.17 |
| Total de l’Actif | 2 624 780 141.05 |
|  |  |
| Passif |  |
| Perte non réalisé(e) sur contrats financiers à terme (note 1) | -143 750.00 |
| Crédit en compte courant | -10.84 |
| Engagements sur achats de titres (note 1) | -6 496 425.00 |
| Engagements sur rachats | -1 801 548.21 |
| Provisions pour commission de gestion forfaitaire (note 2) | -82 116.55 |
| Provisions pour taxe d’abonnement (note 3) | -43 358.84 |
| Provisions pour autres commissions et frais (note 2) | 	-468 817.44	 |
| Total des Provisions pour frais | -594 292.83 |
| Total du Passif | -9 036 026.88 |
|  |  |
| Actif net à la fin de la période | 2 615 744 114.17 |
| Etat des opérations | USD |
| Revenus | 1.6.2020-30.11.2020 |
| Revenus d’intérêts sur liquidités | 0.56 |
| Intérêts sur titres | 42 584 543.47 |
| Revenus sur prêts de titres (note 12) | 38 004.58 |
| Autres revenus (note 4) | 2 314 781.13 |
| Total des Revenus | 44 937 329.74 |
|  |  |
| Charges |  |
| Commission de gestion forfaitaire (note 2) | -1 034 631.51 |
| Taxe d’abonnement (note 3) | -138 265.98 |
| Frais sur prêts de titres (note 12) | -15 201.83 |
| Autres commissions et frais (note 2) | -121 759.72 |
| Charges d’intérêts sur liquidités et crédit en compte courant | -314.48 |
| Total des Charges | -1 310 173.52 |
|  |  |
| Revenus/pertes net(te)s de placements | 43 627 156.22 |
|  |  |
| Bénéfices/(pertes) réalisé(e)s (note 1) |  |
| Bénéfice/(perte) réalisé(e) sur titres évalués à la valeur de marché hors options | 17 922 018.92 |
| Bénéfice/perte réalisé(e) sur contrats financiers à terme | -306 086.00 |
| Bénéfice/(perte) réalisé(e) sur contrats de change à terme | 19 359 407.87 |
| Bénéfice/(perte) de change réalisé(e) | -2 993 841.51 |
| Total des Bénéfices/(pertes) réalisé(e)s | 33 981 499.28 |
|  |  |
| Bénéfice/(perte) net(te) réalisé(e) au cours de la période | 77 608 655.50 |
|  |  |
| 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 | 68 410 649.76 |
| Plus-/(moins)-value non réalisée sur contrats financiers à terme | -159 375.00 |
| Plus-/(moins)-value non réalisée sur contrats de change à terme | -1 433 218.68 |
| Total des Fluctuations de la plus-/(moins)-value non réalisée | 66 818 056.08 |
|  |  |
| Augmentation/(diminution) nette de l’actif net issue de l’activité | 144 426 711.58 |

UBS (Lux) Bond SICAV – USD Investment Grade 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 | 2 728 605 428.33 |
| Souscriptions | 256 998 889.36 |
| Rachats | 	-514 286 915.10	 |
| Total des Entrées/(sorties) de capitaux | -257 288 025.74 |
| Revenus/pertes net(te)s de placements | 43 627 156.22 |
| Total des Bénéfices/(pertes) réalisé(e)s | 33 981 499.28 |
| Total des Fluctuations de la plus-/(moins)-value non réalisée | 	66 818 056.08	 |
| Augmentation/(diminution) nette de l’actif net issue de l’activité | 144 426 711.58 |
| Actif net à la fin de la période | 2 615 744 114.17 |
| Evolution des actions en circulation |  |
|  | 1.6.2020-30.11.2020 |
| Catégorie | F-acc |
| Nombre d’actions en circulation au début de la période | 5 081.0610 |
| Nombre d’actions émises | 230.8700 |
| Nombre d’actions rachetées | -536.4200 |
| Nombre d’actions en circulation à la fin de la période | 4 775.5110 |
| Catégorie | U-X-acc |
| Nombre d’actions en circulation au début de la période | 159 466.8550 |
| Nombre d’actions émises | 18 532.0000 |
| Nombre d’actions rachetées | -34 066.0100 |
| Nombre d’actions en circulation à la fin de la période | 143 932.8450 |
| Catégorie | (CHF hedged) U-X-acc |
| Nombre d’actions en circulation au début de la période | 26 196.9160 |
| Nombre d’actions émises | 680.0000 |
| Nombre d’actions rachetées | -3 482.0000 |
| Nombre d’actions en circulation à la fin de la période | 23 394.9160 |

UBS (Lux) Bond SICAV – USD Investment Grade 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 2.60000% 20-21.11.24 | 5 000 000.00 | 5 352 050.00 | 0.20 |
| USD	ABBVIE INC 2.90000% 13-06.11.22 | 5 000 000.00 | 5 227 143.00 | 0.20 |
| USD	ABBVIE INC 3.20000% 20-21.11.29 | 10 000 000.00 | 11 307 268.00 | 0.43 |
| USD	ABBVIE INC 4.25000% 18-14.11.28 | 5 000 000.00 | 6 037 990.00 | 0.23 |
| USD	ADOBE INC 2.30000% 20-01.02.30 | 3 946 000.00 | 4 289 231.76 | 0.16 |
| USD	AERCAP IRE CAP LTD/GLB AVIA TRUST 4.45000% 19-03.04.26 | 4 250 000.00 | 4 574 488.78 | 0.17 |
| USD	AERCAP IRELAND CAP/ GLBL AVIATION TRUST 6.50000% 20-15.07.25 | 4 000 000.00 | 4 624 222.00 | 0.18 |
| USD	AETNA INC 2.80000% 16-15.06.23 | 11 000 000.00 | 11 565 150.30 | 0.44 |
| USD	AIR PRODUCTS & CHEMICALS INC 1.85000% 20-15.05.27 | 11 500 000.00 | 12 122 005.10 | 0.46 |
| USD	ALLY FINANCIAL INC 5.12500% 14-30.09.24 | 2 600 000.00 | 2 982 356.52 | 0.11 |
| USD	ALLY FINANCIAL INC 5.80000% 20-01.05.25 | 1 000 000.00 | 1 189 926.80 | 0.05 |
| USD	ALPHABET INC 0.45000% 20-15.08.25 | 4 350 000.00 | 4 345 244.14 | 0.17 |
| USD	ALPHABET INC 1.10000% 20-15.08.30 | 7 802 000.00 | 7 737 286.31 | 0.30 |
| USD	ALTRIA GROUP INC 4.80000% 19-14.02.29 | 9 500 000.00 | 11 379 984.45 | 0.44 |
| USD	AMAZON.COM INC 1.20000% 20-03.06.27 | 12 500 000.00 | 12 737 168.75 | 0.49 |
| USD	AMERICAN ELECTRIC POWER INC 3.20000% 17-13.11.27 | 6 000 000.00 | 6 721 866.00 | 0.26 |
| USD	AMERICAN EXPRESS CO-SUB 3.62500% 14-05.12.24 | 5 500 000.00 | 6 100 123.15 | 0.23 |
| USD	AMERICAN INTERNATIONAL GROUP INC 4.25000% 19-15.03.29 | 3 000 000.00 | 3 586 602.60 | 0.14 |
| USD	AMERICAN INTL GROUP INC 3.40000% 20-30.06.30 | 3 000 000.00 | 3 415 463.40 | 0.13 |
| USD	AMGEN INC 1.90000% 20-21.02.25 | 6 000 000.00 | 6 283 824.60 | 0.24 |
| USD	AMGEN INC 2.45000% 20-21.02.30 | 4 502 000.00 | 4 830 514.54 | 0.18 |
| USD	ANGLO AMERICAN CAPITAL PLC-144A 4.87500% 15-14.05.25 | 8 000 000.00 | 9 185 280.00 | 0.35 |
| USD	ANHEUSER-BUSCH INBEV WORLDWIDE INC 4.75000% 19-23.01.29 | 10 000 000.00 | 12 286 423.00 | 0.47 |
| USD	AON CORP 2.80000% 20-15.05.30 | 5 000 000.00 | 5 462 172.50 | 0.21 |
| USD	APPLE INC 1.12500% 20-11.05.25 | 7 000 000.00 | 7 152 132.40 | 0.27 |
| USD	APPLE INC 1.65000% 20-11.05.30 | 10 360 000.00 | 10 715 362.51 | 0.41 |
| USD	APPLE INC 3.00000% 17-13.11.27 | 5 000 000.00 | 5 654 959.50 | 0.22 |
| USD	ASHTEAD CAPITAL INC-144A 4.25000% 19-01.11.29 | 5 250 000.00 | 5 696 250.00 | 0.22 |
| USD	AT&T INC 2.75000% 20-01.06.31 | 12 000 000.00 | 12 758 980.80 | 0.49 |
| USD	AT&T INC 4.30000% 18-15.02.30 | 2 910 000.00 | 3 485 999.29 | 0.13 |
| USD	AT&T INC 4.35000% 19-01.03.29 | 5 000 000.00 | 5 974 152.50 | 0.23 |
| USD	AUTODESK INC 2.85000% 20-15.01.30 | 5 000 000.00 | 5 526 213.00 | 0.21 |
| USD	BAE SYSTEMS PLC-144A 1.90000% 20-15.02.31 | 12 800 000.00 | 12 925 359.36 | 0.49 |
| USD	BANCO SANTANDER SA 3.50000% 17-11.04.22 | 4 400 000.00 | 4 574 359.68 | 0.17 |
| USD	BANCO SANTANDER SA 3.12500% 17-23.02.23 | 4 600 000.00 | 4 846 699.84 | 0.18 |
| USD	BANCO SANTANDER SA 4.25000% 17-11.04.27 | 10 000 000.00 | 11 486 094.00 | 0.44 |
| USD	BANK OF NOVA SCOTIA-SUB 4.50000% 15-16.12.25 | 6 050 000.00 | 6 963 017.60 | 0.27 |
| USD	BARCLAYS BANK PLC-144A-SUB 10.17900% 09-12.06.21 | 7 480 000.00 | 7 837 273.22 | 0.30 |
| USD	BARCLAYS PLC 3.68400% 17-10.01.23 | 2 250 000.00 | 2 321 999.78 | 0.09 |
| USD	BARCLAYS PLC-SUB 4.37500% 14-11.09.24 | 11 750 000.00 | 12 965 823.02 | 0.50 |
| USD	BIOGEN INC 2.25000% 20-01.05.30 | 5 000 000.00 | 5 182 210.50 | 0.20 |
| USD	BOEING CO 4.87500% 20-01.05.25 | 13 000 000.00 | 14 501 510.40 | 0.55 |
| USD	BP CAPITAL MARKETS AMERICA INC 3.41000% 19-11.02.26 | 10 000 000.00 | 11 183 396.00 | 0.43 |
| USD	BRISTOL-MYERS SQUIBB CO 3.20000% 20-15.06.26 | 8 000 000.00 | 8 984 128.80 | 0.34 |
| USD	BRITISH TELECOMMUNICATIONS PLC 4.50000% 18-04.12.23 | 10 614 000.00 | 11 726 414.07 | 0.45 |
| USD	BROADCOM CORP/CAYMAN FIN LTD 3.87500% 18-15.01.27 | 6 849 000.00 | 7 690 516.08 | 0.29 |
| USD	BROADCOM CORP/CAYMAN FIN LTD 3.50000% 18-15.01.28 | 2 049 000.00 | 2 257 056.89 | 0.09 |
| USD	BROADCOM INC 5.00000% 20-15.04.30 | 2 000 000.00 | 2 421 161.20 | 0.09 |
| USD	CAPITAL ONE FINANCIAL CORP 3.50000% 13-15.06.23 | 5 608 000.00 | 6 014 563.17 | 0.23 |
| USD	CAPITAL ONE FINANCIAL CORP-SUB 4.20000% 15-29.10.25 | 9 501 000.00 | 10 781 595.14 | 0.41 |
| USD	CCO LLC/CAPITAL 2.80000% 20-01.04.31 | 3 000 000.00 | 3 177 237.60 | 0.12 |
| USD	CCO LLC/CAPITAL 4.20000% 17-15.03.28 | 6 000 000.00 | 6 899 130.00 | 0.26 |
| USD	CCO LLC/CAPITAL 4.90800% 16-23.07.25 | 12 000 000.00 | 13 894 479.60 | 0.53 |
| USD	CHEVRON USA INC 1.01800% 20-12.08.27 | 8 750 000.00 | 8 760 922.63 | 0.33 |
| USD	CIGNA CORP 2.40000% 20-15.03.30 | 3 000 000.00 | 3 192 672.60 | 0.12 |
| USD	CIGNA CORP 4.12500% 19-15.11.25 | 7 000 000.00 | 8 054 969.30 | 0.31 |
| USD	CIGNA CORP 4.37500% 19-15.10.28 | 6 655 000.00 | 8 010 732.64 | 0.31 |
| USD	CITIGROUP INC 3.20000% 16-21.10.26 | 10 000 000.00 | 11 107 122.00 | 0.42 |
| USD	CITIGROUP INC 3.70000% 16-12.01.26 | 5 750 000.00 | 6 508 944.80 | 0.25 |
| USD	CITIGROUP INC-SUB 3.87500% 15-26.03.25 | 2 500 000.00 | 2 788 375.00 | 0.11 |
| USD	CITIGROUP INC-SUB 4.40000% 15-10.06.25 | 5 000 000.00 | 5 725 039.00 | 0.22 |
| USD	CITIGROUP INC-SUB 4.45000% 15-29.09.27 | 18 000 000.00 | 21 119 416.20 | 0.81 |
| USD	CITIGROUP INC-SUB 5.50000% 13-13.09.25 | 6 250 000.00 | 7 521 373.12 | 0.29 |
| USD	CMS ENERGY CORP 3.60000% 15-15.11.25 | 3 000 000.00 | 3 368 673.90 | 0.13 |
| USD	COCA-COLA CO/THE 1.65000% 20-01.06.30 | 6 954 000.00 | 7 174 312.45 | 0.27 |
| USD	COMCAST CORP 3.15000% 16-01.03.26 | 2 249 000.00 | 2 507 442.03 | 0.10 |
| USD	COMCAST CORP 3.95000% 18-15.10.25 | 18 922 000.00 | 21 695 278.33 | 0.83 |
| USD	COMCAST CORP 4.25000% 18-15.10.30 | 5 000 000.00 | 6 174 922.50 | 0.24 |
| USD	CONCHO RESOURCES INC 2.40000% 20-15.02.31 | 2 500 000.00 | 2 614 417.00 | 0.10 |
| USD	CORPORACION ANDINA DE FOMENTO 2.12500% 16-27.09.21 | 3 660 000.00 | 3 705 310.80 | 0.14 |
| USD	CREDIT AGRICOLE SA-144A-SUB 4.37500% 15-17.03.25 | 4 500 000.00 | 5 030 541.45 | 0.19 |
| USD	CREDIT SUISSE GROUP AG-144A 3.57400% 17-09.01.23 | 14 220 000.00 | 14 676 342.55 | 0.56 |
| USD	CREDIT SUISSE GROUP AG-144A 4.28200% 17-09.01.28 | 10 000 000.00 | 11 541 414.00 | 0.44 |
| USD	CREDIT SUISSE GRP FDNG GUERNSEY 3.80000% 16-15.09.22 | 10 000 000.00 | 10 578 600.00 | 0.40 |
| USD	CREDIT SUISSE GRP FDNG GUERNSEY 4.55000% 16-17.04.26 | 2 250 000.00 | 2 636 467.87 | 0.10 |
| USD	CVS HEALTH CORP 2.62500% 19-15.08.24 | 5 000 000.00 | 5 351 472.50 | 0.20 |
| USD	CVS HEALTH CORP 3.70000% 18-09.03.23 | 5 000 000.00 | 5 349 500.00 | 0.20 |
| USD	CVS HEALTH CORP 3.87500% 15-20.07.25 | 3 500 000.00 | 3 949 683.50 | 0.15 |
| USD	CVS HEALTH CORP 4.10000% 18-25.03.25 | 2 042 000.00 | 2 312 975.85 | 0.09 |
| USD	CVS HEALTH CORP 4.75000% 16-01.12.22 | 1 000 000.00 | 1 075 371.10 | 0.04 |
| USD	DANSKE BANK AS-144A 1.22600% 20-22.06.24 | 10 000 000.00 | 10 134 140.00 | 0.39 |
| USD	DIAMONDBACK ENERGY INC 3.25000% 19-01.12.26 | 6 000 000.00 | 6 351 415.20 | 0.24 |
| USD	DOMINION ENERGY INC 2.85000% 16-15.08.26 | 2 000 000.00 | 2 195 029.20 | 0.08 |
| USD	DOMINION ENERGY INC 3.37500% 20-01.04.30 | 15 000 000.00 | 17 157 624.00 | 0.66 |
| USD	DTE ENERGY CO 2.95000% 19-01.03.30 | 9 000 000.00 | 9 840 431.70 | 0.38 |
| USD	DTE ENERGY CO 3.30000% 15-15.06.22 | 5 000 000.00 | 5 191 661.00 | 0.20 |
| USD	DTE ENERGY CO 3.40000% 19-15.06.29 | 8 000 000.00 | 9 040 112.00 | 0.35 |
| USD	EMERSON ELECTRIC CO 1.95000% 20-15.10.30 | 5 000 000.00 | 5 241 829.00 | 0.20 |

UBS (Lux) Bond SICAV – USD Investment Grade 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 | ENBRIDGE INC 3.50000% 14-10.06.24 | 1 561 000.00 | 1 687 847.33 | 0.06 |
| USD | ENI SPA-144A 4.00000% 18-12.09.23 | 6 500 000.00 | 7 073 146.60 | 0.27 |
| USD | ENTERPRISE PRODUCTS OPERATING LLC 3.70000% 15-15.02.26 | 2 500 000.00 | 2 819 265.50 | 0.11 |
| USD | EQUINIX INC 2.15000% 20-15.07.30 | 5 000 000.00 | 5 098 805.00 | 0.19 |
| USD | EQUINOR ASA 2.87500% 20-06.04.25 | 17 000 000.00 | 18 476 257.90 | 0.71 |
| USD | FIRSTENERGY CORP 2.85000% 17-15.07.22 | 5 000 000.00 | 5 120 150.00 | 0.20 |
| USD | FIRSTENERGY CORP 3.90000% 17-15.07.27 | 10 000 000.00 | 11 047 026.00 | 0.42 |
| USD | FISERV INC 3.20000% 19-01.07.26 | 15 000 000.00 | 16 821 166.50 | 0.64 |
| USD | FISERV INC 3.50000% 19-01.07.29 | 3 000 000.00 | 3 437 180.10 | 0.13 |
| USD | FORD MOTOR CREDIT CO 3.37500% 20-13.11.25 | 5 800 000.00 | 5 844 660.00 | 0.22 |
| USD | FORD MOTOR CREDIT CO LLC 5.87500% 11-02.08.21 | 3 000 000.00 | 3 071 220.00 | 0.12 |
| USD | FORD MOTOR CREDIT CO LLC 3.20000% 15-15.01.21 | 5 000 000.00 | 5 005 500.00 | 0.19 |
| USD | GE CAPITAL INTL FUNDING CO 3.37300% 16-15.11.25 | 4 000 000.00 | 4 388 346.00 | 0.17 |
| USD | GENERAL ELECTRIC CO 3.45000% 20-01.05.27 | 5 000 000.00 | 5 502 314.00 | 0.21 |
| USD | GENERAL ELECTRIC CO 3.62500% 20-01.05.30 | 3 000 000.00 | 3 365 413.20 | 0.13 |
| USD | GENERAL MOTORS CO 4.20000% 17-01.10.27 | 2 500 000.00 | 2 814 462.50 | 0.11 |
| USD | GENERAL MOTORS FINANCIAL CO INC 4.20000% 16-01.03.21 | 9 942 000.00 | 9 996 240.57 | 0.38 |
| USD | GENERAL MOTORS FINANCIAL CO INC 3.70000% 16-09.05.23 | 3 000 000.00 | 3 175 747.20 | 0.12 |
| USD | GENERAL MOTORS FINANCIAL CO INC 4.00000% 16-06.10.26 | 1 750 000.00 | 1 955 433.20 | 0.07 |
| USD | GENERAL MOTORS FINANCIAL CO 3.85000% 18-05.01.28 | 5 000 000.00 | 5 571 528.00 | 0.21 |
| USD | GENERAL MOTORS FINANCIAL CO INC 5.10000% 19-17.01.24 | 2 900 000.00 | 3 241 722.95 | 0.12 |
| USD | GENERAL MOTORS FINANCIAL CO INC 3.55000% 19-08.07.22 | 2 000 000.00 | 2 089 864.00 | 0.08 |
| USD | GENERAL MOTORS FINANCIAL CO INC 2.90000% 20-26.02.25 | 15 000 000.00 | 15 892 023.00 | 0.61 |
| USD | GEORGIA POWER CO 2.65000% 19-15.09.29 | 10 000 000.00 | 10 972 741.00 | 0.42 |
| USD | GILEAD SCIENCES INC 3.50000% 14-01.02.25 | 5 000 000.00 | 5 522 538.00 | 0.21 |
| USD | GILEAD SCIENCES INC 3.65000% 15-01.03.26 | 2 358 000.00 | 2 673 037.76 | 0.10 |
| USD | GOLDMAN SACHS GROUP INC-SUB 4.25000% 15-21.10.25 | 5 000 000.00 | 5 745 388.50 | 0.22 |
| USD | GOLDMAN SACHS GROUP INC/THE 3.00000% 17-26.04.22 | 5 000 000.00 | 5 050 638.50 | 0.19 |
| USD | GOLDMAN SACHS GROUP INC/THE 3.20000% 18-23.02.23 | 9 500 000.00 | 10 058 273.20 | 0.38 |
| USD | HCA INC 4.12500% 19-15.06.29 | 3 000 000.00 | 3 469 155.90 | 0.13 |
| USD | HCP INC 3.40000% 15-01.02.25 | 5 000 000.00 | 5 493 644.00 | 0.21 |
| USD | HCP INC 4.00000% 15-01.06.25 | 7 132 000.00 | 8 061 487.88 | 0.31 |
| USD | HOME DEPOT INC/THE 2.95000% 19-15.06.29 | 5 000 000.00 | 5 662 520.50 | 0.22 |
| USD | HSBC HOLDINGS PLC 4.30000% 16-08.03.26 | 5 441 000.00 | 6 247 330.09 | 0.24 |
| USD | HSBC HOLDINGS PLC-SUB 4.37500% 16-23.11.26 | 1 750 000.00 | 2 000 762.75 | 0.08 |
| USD | HUMANA INC 3.12500% 19-15.08.29 | 5 000 000.00 | 5 546 064.50 | 0.21 |
| USD | HUMANA INC 3.95000% 17-15.03.27 | 2 000 000.00 | 2 301 555.40 | 0.09 |
| USD | INTEL CORP 2.45000% 19-15.11.29 | 11 304 000.00 | 12 360 543.06 | 0.47 |
| USD | INTERCONTINENTAL EXCHANGE INC 2.10000% 20-15.06.30 | 9 000 000.00 | 9 407 565.90 | 0.36 |
| USD | INTERNATIONAL BUSINESS MACHINES CORP 3.37500% 13-01.08.23 | 5 487 000.00 | 5 941 088.20 | 0.23 |
| USD | INTERNATIONAL BUSINESS MACHINES CORP 3.45000% 16-19.02.26 | 7 500 000.00 | 8 538 764.25 | 0.33 |
| USD | JPMORGAN CHASE & CO-SUB 3.87500% 14-10.09.24 | 19 500 000.00 | 21 750 984.45 | 0.83 |
| USD | KIA MOTORS CORP-144A 3.00000% 17-25.04.23 | 6 000 000.00 | 6 257 650.20 | 0.24 |
| USD | KINDER MORGAN INC 3.15000% 17-15.01.23 | 7 500 000.00 | 7 874 938.50 | 0.30 |
| USD | KINROSS GOLD CORP 5.95000% 14-15.03.24 | 2 250 000.00 | 2 569 076.09 | 0.10 |
| USD | KROGER CO 3.50000% 16-01.02.26 | 2 000 000.00 | 2 243 564.40 | 0.09 |
| USD | LENNAR CORP 4.75000% 18-29.11.27 | 5 000 000.00 | 5 931 250.00 | 0.23 |
| USD | LLOYDS BANKING GROUP PLC-SUB 4.58200% 16-10.12.25 | 4 000 000.00 | 4 502 171.20 | 0.17 |
| USD | LLOYDS BANKING GROUP PLC-SUB 4.50000% 14-04.11.24 | 1 293 000.00 | 1 438 363.33 | 0.05 |
| USD | LLOYDS BANKING GROUP PLC 3.00000% 17-11.01.22 | 7 805 000.00 | 8 024 603.82 | 0.31 |
| USD | MARATHON PETROLEUM CORP 4.75000% 19-15.12.23 | 4 000 000.00 | 4 415 322.80 | 0.17 |
| USD | MASCO CORP 2.00000% 20-01.10.30 | 2 700 000.00 | 2 739 336.03 | 0.10 |
| USD | MASTERCARD INC 3.35000% 20-26.03.30 | 2 445 000.00 | 2 872 515.10 | 0.11 |
| USD | MERCK & CO INC 1.45000% 20-24.06.30 | 12 000 000.00 | 12 202 026.00 | 0.47 |
| USD | MITSUBISHI UFJ FINANCIAL GROUP INC 3.45500% 18-02.03.23 | 14 500 000.00 | 15 416 980.00 | 0.59 |
| USD | MITSUBISHI UFJ FINANCIAL GRP INC 2.19300% 20-25.02.25 | 12 000 000.00 | 12 600 240.00 | 0.48 |
| USD | MIZUHO FINANCIAL GROUP INC 2.60100% 17-11.09.22 | 7 250 000.00 | 7 519 700.00 | 0.29 |
| USD | MORGAN STANLEY-SUB 4.87500% 12-01.11.22 | 7 500 000.00 | 8 104 229.99 | 0.31 |
| USD | MORGAN STANLEY-SUB 5.00000% 13-24.11.25 | 5 000 000.00 | 5 958 393.00 | 0.23 |
| USD | MPLX LP 4.87500% 16-01.12.24 | 5 525 000.00 | 6 260 572.53 | 0.24 |
| USD | NATWEST GROUP PLC 4.80000% 16-05.04.26 | 10 000 000.00 | 11 690 012.00 | 0.45 |
| USD | NIKE INC 2.75000% 20-27.03.27 | 8 764 000.00 | 9 729 971.59 | 0.37 |
| USD | NUCOR CORP 2.00000% 20-01.06.25 | 5 000 000.00 | 5 252 870.50 | 0.20 |
| USD | NVIDIA CORP 2.85000% 20-01.04.30 | 2 560 000.00 | 2 868 664.84 | 0.11 |
| USD | OCCIDENTAL PETROLEUM CORP 2.90000% 19-15.08.24 | 7 000 000.00 | 6 527 500.00 | 0.25 |
| USD | ORACLE CORP 2.80000% 20-01.04.27 | 22 500 000.00 | 24 777 675.00 | 0.95 |
| USD | OVINTIV INC 3.90000% 11-15.11.21 | 2 370 000.00 | 2 387 066.84 | 0.09 |
| USD | PAYPAL HOLDINGS INC 2.30000% 20-01.06.30 | 10 825 000.00 | 11 630 021.69 | 0.44 |
| USD | PEPSICO INC 1.62500% 20-01.05.30 | 6 232 000.00 | 6 416 502.10 | 0.25 |
| USD | PFIZER INC 2.62500% 20-01.04.30 | 6 390 000.00 | 7 105 607.79 | 0.27 |
| USD | PUBLIC STORAGE 3.09400% 17-15.09.27 | 5 000 000.00 | 5 609 172.00 | 0.21 |
| USD | PUBLIC STORAGE 3.38500% 19-01.05.29 | 3 000 000.00 | 3 454 865.40 | 0.13 |
| USD | QUALCOMM INC 2.90000% 17-20.05.24 | 8 000 000.00 | 8 614 749.60 | 0.33 |
| USD | QUALCOMM INC 3.25000% 17-20.05.27 | 2 250 000.00 | 2 550 607.65 | 0.10 |
| USD | QUANTA SERVICES INC 2.90000% 20-01.10.30 | 10 500 000.00 | 11 237 208.15 | 0.43 |
| USD | RABOBANK NEDERLAND-SUB 4.62500% 13-01.12.23 | 1 750 000.00 | 1 947 830.85 | 0.07 |
| USD | ROPER TECHNOLOGIES INC 2.00000% 20-30.06.30 | 4 000 000.00 | 4 111 816.40 | 0.16 |
| USD | ROPER TECHNOLOGIES INC 1.40000% 20-15.09.27 | 5 000 000.00 | 5 059 880.50 | 0.19 |
| USD | SABINE PASS LIQUEFACTION LLC 5.75000% 14-15.05.24 | 5 000 000.00 | 5 692 764.00 | 0.22 |
| USD | SABINE PASS LIQUEFACTION LLC 5.00000% 17-15.03.27 | 4 850 000.00 | 5 616 672.97 | 0.21 |
| USD | SANTANDER UK GROUP HOLD PLC 3.57100% 17-10.01.23 | 1 098 000.00 | 1 131 972.12 | 0.04 |
| USD | SANTANDER UK PLC 2.10000% 20-13.01.23 | 8 000 000.00 | 8 265 040.00 | 0.32 |
| USD | SEMPRA ENERGY 3.25000% 17-15.06.27 | 3 188 000.00 | 3 530 529.56 | 0.13 |
| USD | SHELL INTERNATIONAL FINANCE 2.37500% 20-06.04.25 | 16 000 000.00 | 17 118 163.20 | 0.65 |
| USD | SHERWIN-WILLIAMS CO 3.12500% 17-01.06.24 | 4 000 000.00 | 4 334 390.80 | 0.17 |
| USD | SOUTHWEST AIRLINES CO 2.75000% 17-16.11.22 | 5 500 000.00 | 5 679 287.35 | 0.22 |
| USD | SOUTHWEST AIRLINES CO 3.45000% 17-16.11.27 | 19 440 000.00 | 20 577 969.00 | 0.79 |
| USD | SOUTHWEST AIRLINES CO 2.62500% 20-10.02.30 | 5 500 000.00 | 5 445 375.21 | 0.21 |
| USD | STEEL DYNAMICS INC 5.00000% 17-15.12.26 | 3 500 000.00 | 3 735 634.35 | 0.14 |
| USD | SUMITOMO MITSUI FIN GP INC 3.93600% 18-16.10.23 | 10 000 000.00 | 10 931 300.00 | 0.42 |
| USD | SYNGENTA FINANCE NV-144A 4.44100% 18-24.04.23 | 7 000 000.00 | 7 386 200.50 | 0.28 |
| USD | SYSCO CORP 2.40000% 20-15.02.30 | 5 000 000.00 | 5 226 513.50 | 0.20 |
| USD | SYSCO CORP 5.65000% 20-01.04.25 | 1 000 000.00 | 1 191 973.10 | 0.05 |
| USD | TRUIST BANK-SUB 3.30000% 16-15.05.26 | 27 494 000.00 | 30 753 540.17 | 1.18 |
| USD | UNION PACIFIC CORP 3.95000% 18-10.09.28 | 5 500 000.00 | 6 515 370.95 | 0.25 |
| USD | UNION PACIFIC CORP 3.70000% 19-01.03.29 | 5 000 000.00 | 5 863 559.50 | 0.22 |

UBS (Lux) Bond SICAV – USD Investment Grade 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 | UNITED RENTALS NORTH AMERICA INC 5.50000% 16-15.05.27 | 2 000 000.00 | 2 151 250.00 | 0.08 |
| USD | UNITED RENTALS NORTH AMERICA INC 3.87500% 19-15.11.27 | 11 000 000.00 | 11 527 230.00 | 0.44 |
| USD | UNITED RENTALS NORTH AMERICA INC 4.00000% 20-15.07.30 | 2 200 000.00 | 2 315 500.00 | 0.09 |
| USD | UNITED TECHNOLOGIES CORP 4.12500% 18-16.11.28 | 5 000 000.00 | 5 968 345.50 | 0.23 |
| USD | UNITED TECHNOLOGIES CORP 3.95000% 18-16.08.25 | 7 000 000.00 | 8 001 186.90 | 0.31 |
| USD | UNITEDHEALTH GROUP INC 3.50000% 18-15.02.24 | 5 000 000.00 | 5 479 712.50 | 0.21 |
| USD | UNITEDHEALTH GROUP INC 2.00000% 20-15.05.30 | 11 210 000.00 | 11 914 981.20 | 0.46 |
| USD | VALE OVERSEAS LTD 3.75000% 20-08.07.30 | 3 000 000.00 | 3 293 100.00 | 0.13 |
| USD | VALERO ENERGY CORP 2.70000% 20-15.04.23 | 4 000 000.00 | 4 158 305.20 | 0.16 |
| USD | VERIZON COMMUNICATIONS INC 3.37600% 18-15.02.25 | 2 514 000.00 | 2 792 371.70 | 0.11 |
| USD | VERIZON COMMUNICATIONS INC 4.32900% 18-21.09.28 | 11 116 000.00 | 13 493 961.40 | 0.52 |
| USD | VERIZON COMMUNICATIONS INC 3.15000% 20-22.03.30 | 5 305 000.00 | 5 973 855.46 | 0.23 |
| USD | VISA INC 1.10000% 20-15.02.31 | 9 000 000.00 | 8 827 445.34 | 0.34 |
| USD | VMWARE INC 3.90000% 17-21.08.27 | 8 000 000.00 | 8 957 737.60 | 0.34 |
| USD | WALGREENS BOOTS ALLIANCE INC 3.80000% 14-18.11.24 | 5 500 000.00 | 6 101 279.25 | 0.23 |
| USD | WALT DISNEY CO 2.00000% 19-01.09.29 | 6 000 000.00 | 6 239 526.60 | 0.24 |
| USD | WALT DISNEY CO 3.70000% 19-15.09.24 | 2 250 000.00 | 2 491 796.02 | 0.10 |
| USD | WESTERN DIGITAL CORP 4.75000% 18-15.02.26 | 6 800 000.00 | 7 426 875.00 | 0.28 |
| USD | WESTPAC BANKING CORP 2.70000% 16-19.08.26 | 9 661 000.00 | 10 595 701.75 | 0.41 |
| USD | WEYERHAEUSER CO 4.00000% 20-15.04.30 | 3 500 000.00 | 4 109 465.50 | 0.16 |
| USD | WILLIAMS COS INC/THE 3.75000% 17-15.06.27 | 1 250 000.00 | 1 407 244.00 | 0.05 |
| USD | WILLIAMS COS INC/THE LP 3.35000% 12-15.08.22 | 10 000 000.00 | 10 434 236.00 | 0.40 |
| USD | ZOETIS INC 3.90000% 18-20.08.28 | 5 000 000.00 | 5 914 794.50 | 0.23 |
| Total USD |  |  | 1 473 400 913.85 | 56.33 |
| Total des Billets, taux fixe |  | 1 473 400 913.85 | 56.33 |
| Billets, taux variable |  |  |  |
| USD |  |  |  |
| USD	BANK OF AMERICA CORP 3.366%/VAR 18-23.01.26 | 12 000 000.00 | 13 161 058.80 | 0.50 |
| USD	BANK OF AMERICA CORP 3.419%/VAR 18-20.12.28 | 5 875 000.00 | 6 615 737.62 | 0.25 |
| USD	BK OF AMERICA CORP 3.004%/VAR 18-20.12.23 | 20 954 000.00 | 22 003 376.32 | 0.84 |
| USD	CITIGROUP INC 2.876%/VAR 17-24.07.23 | 13 000 000.00 | 13 505 440.00 | 0.52 |
| USD	GOLDMAN SACHS GROUP INC 3.691%/VAR 17-05.06.28 | 6 500 000.00 | 7 453 654.00 | 0.28 |
| USD	GOLDMAN SACHS GROUP INC 3.272%/VAR 17-29.09.25 | 5 000 000.00 | 5 451 786.50 | 0.21 |
| USD	HSBC HOLDINGS PLC 3.262%/VAR 17-13.03.23 | 4 500 000.00 | 4 654 059.75 | 0.18 |
| USD	HSBC HOLDINGS PLC 3.803%/VAR 19-11.03.25 | 6 000 000.00 | 6 528 569.40 | 0.25 |
| USD	HSBC HOLDINGS PLC 3.973%/VAR 19-22.05.30 | 8 500 000.00 | 9 793 994.11 | 0.38 |
| USD	JPMORGAN CHASE & CO 3.702%/VAR 19-06.05.30 | 10 000 000.00 | 11 546 098.00 | 0.44 |
| USD	JPMORGAN CHASE & CO 2.301%/VAR 19-15.10.25 | 14 267 000.00 | 15 086 039.93 | 0.58 |
| USD	JPMORGAN CHASE & CO 2.182%/VAR 20-01.06.28 | 14 000 000.00 | 14 710 015.60 | 0.56 |
| USD	MIZUHO FINANCIAL GROUP INC 2.839%/3M LIBOR+98BP 19-16.07.25 | 6 000 000.00 | 6 355 380.00 | 0.24 |
| USD	WELLS FARGO & CO 2.188%/VAR 20-30.04.26 | 5 000 000.00 | 5 233 784.50 | 0.20 |
| USD	WESTPAC BANKING CORP-SUB 2.668%/VAR 20-15.11.35 | 5 000 000.00 | 5 113 200.00 | 0.20 |
| Total USD |  | 147 212 194.53 | 5.63 |
| Total des Billets, taux variable |  | 147 212 194.53 | 5.63 |
| Medium-Term Notes, taux fixe |  |  |  |
| USD |  |  |  |
| USD	AIR LEASE CORP 2.30000% 20-01.02.25 | 10 150 000.00 | 10 293 069.33 | 0.39 |
| USD	BANK OF AMERICA CORP-SUB 4.20000% 14-26.08.24 | 5 500 000.00 | 6 157 387.50 | 0.24 |
| USD	BANK OF AMERICA CORP-SUB 4.25000% 14-22.10.26 | 14 500 000.00 | 16 935 369.25 | 0.65 |
| USD	BANK OF AMERICA CORP-SUB 4.45000% 16-03.03.26 | 14 500 000.00 | 16 930 321.80 | 0.65 |
| USD	BANK OF AMERICA CORP 3.24800% 16-21.10.27 | 10 000 000.00 | 11 117 686.00 | 0.42 |
| USD	BANK OF NEW YORK CO 1.85000% 20-27.01.23 | 5 000 000.00 | 5 157 086.50 | 0.20 |
| USD	DEUTSCHE BANK AG/NEW YORK NY 3.12500% 18-13.01.21 | 3 926 000.00 | 3 935 539.39 | 0.15 |
| USD	FORD MOTOR CREDIT CO LLC 4.38900% 16-08.01.26 | 3 470 000.00 | 3 608 800.00 | 0.14 |
| USD	MORGAN STANLEY-SUB 3.95000% 15-23.04.27 | 25 000 000.00 | 28 807 842.50 | 1.10 |
| USD	MORGAN STANLEY-SUB 4.10000% 13-22.05.23 | 1 750 000.00 | 1 894 930.10 | 0.07 |
| USD	ROYAL BANK OF CANADA 3.70000% 18-05.10.23 | 3 000 000.00 | 3 277 110.00 | 0.12 |
| USD	SAUDI ARABIAN OIL CO-144A 2.87500% 19-16.04.24 | 7 750 000.00 | 8 185 937.50 | 0.31 |
| USD	SAUDI ARABIAN OIL CO-144A 3.50000% 19-16.04.29 | 5 000 000.00 | 5 531 250.00 | 0.21 |
| USD	US BANCORP-SUB 3.60000% 14-11.09.24 | 5 875 000.00 | 6 495 335.38 | 0.25 |
| USD	WELLS FARGO & CO 3.75000% 19-24.01.24 | 10 000 000.00 | 10 863 648.00 | 0.42 |
| USD	WELLS FARGO & CO-SUB 4.10000% 14-03.06.26 | 13 500 000.00 | 15 531 829.65 | 0.59 |
| Total USD |  | 154 723 142.90 | 5.91 |
| Total des Medium-Term Notes, taux fixe |  | 154 723 142.90 | 5.91 |
| Medium-Term Notes, taux variable |  |  |  |
| USD |  |  |  |
| USD	BANK OF AMERICA CORP 3.124%/VAR 17-20.01.23 | 5 000 000.00 | 5 149 545.50 | 0.20 |
| USD	BANK OF AMERICA CORP 3.970%/3M LIBOR+107BP 18-05.03.29 | 3 399 000.00 | 3 954 147.12 | 0.15 |
| USD	BANK OF AMERICA CORP 2.015%/3M LIBOR+64BP 20-13.02.26 | 5 500 000.00 | 5 739 429.30 | 0.22 |
| USD	WELLS FARGO & CO 2.164%/VAR 20-11.02.26 | 7 500 000.00 | 7 847 118.75 | 0.30 |
| USD	WELLS FARGO & CO 2.406%/VAR 19-30.10.25 | 1 710 000.00 | 1 803 173.45 | 0.07 |
| Total USD |  | 24 493 414.12 | 0.94 |
| Total des Medium-Term Notes, taux variable |  | 24 493 414.12 | 0.94 |
| Obligations, taux fixe |  |  |  |
| USD |  |  |  |
| USD	BALL CORP 4.87500% 18-15.03.26 | 1 000 000.00 | 1 125 410.00 | 0.04 |
| USD	COMCAST CORP 3.15000% 17-15.02.28 | 5 000 000.00 | 5 635 555.50 | 0.22 |
| USD	DUKE ENERGY CAROLINAS LLC 2.45000% 20-01.02.30 | 11 500 000.00 | 12 388 402.60 | 0.47 |
| USD	ENERGY TRANSFER LP/REGENCY FIN CORP 5.87500% 14-01.03.22 | 2 000 000.00 | 2 095 154.80 | 0.08 |
| USD	ENERGY TRANSFER OPERATING LP 4.25000% 19-15.03.23 | 3 000 000.00 | 3 157 903.80 | 0.12 |
| USD	ENERGY TRANSFER OPERATING LP 5.50000% 19-01.06.27 | 15 000 000.00 | 17 281 003.50 | 0.66 |
| USD	ENERGY TRANSFER PARTNERS LP 4.90000% 13-01.02.24 | 4 500 000.00 | 4 887 193.95 | 0.19 |
| USD	GENERAL MOTORS FINANCIAL CO INC 3.45000% 17-14.01.22 | 4 009 000.00 | 4 118 884.29 | 0.16 |

UBS (Lux) Bond SICAV – USD Investment Grade 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 | GOLDMAN SACHS GROUP INC/THE 3.85000% 17-26.01.27 | 7 962 000.00 | 9 099 987.16 | 0.35 |
| USD | HEATHROW FUNDING LTD-144A 4.87500% 11-15.07.21 | 1 200 000.00 | 1 227 113.40 | 0.05 |
| USD | HEATHROW FUNDING LTD-REG-S 4.87500% 11-15.07.21 | 1 830 000.00 | 1 874 787.78 | 0.07 |
| USD | JP MORGAN CHASE & CO-SUB 4.25000% 15-01.10.27 | 10 000 000.00 | 11 787 235.00 | 0.45 |
| USD | NATIONAL RURAL UTILITIES COOP FIN CORP 3.90000% 18-01.11.28 | 10 000 000.00 | 11 785 014.00 | 0.45 |
| USD | PACIFIC GAS & ELECTRIC CO 1.75000% 20-16.06.22 | 7 250 000.00 | 7 261 444.12 | 0.28 |
| USD | PACIFIC GAS & ELECTRIC CO 2.10000% 20-01.08.27 | 5 000 000.00 | 5 028 061.00 | 0.19 |
| USD | PACIFIC GAS AND ELECTRIC CO 3.15000% 20-01.01.26 | 6 000 000.00 | 6 340 329.60 | 0.24 |
| USD | PNC BANK NATIONAL ASSOCIATION-SUB 2.70000% 12-01.11.22 | 4 625 000.00 | 4 819 792.05 | 0.18 |
| USD | REYNOLDS AMERICAN INC 4.45000% 15-12.06.25 | 5 000 000.00 | 5 702 761.50 | 0.22 |
| USD | SOUTHERN CALIFORNIA EDISON CO 3.70000% 18-01.08.25 | 7 000 000.00 | 7 851 354.70 | 0.30 |
| USD | SOUTHERN CALIFORNIA EDISON CO 2.85000% 19-01.08.29 | 3 000 000.00 | 3 246 604.80 | 0.12 |
| Total USD |  |  | 126 713 993.55 | 4.84 |
| Total des Obligations, taux fixe |  | 126 713 993.55 | 4.84 |
| Obligations, taux variable |  |  |  |
| USD |  |  |  |
| USD	BP CAPITAL MARKETS PLC-SUB 4.375%/VAR 20-PRP | 8 500 000.00 | 9 073 665.00 | 0.35 |
| USD	DEUTSCHE TELEKOM INTL FIN 8.250%/RATING LINKED 00-15.06.30 | 2 250 000.00 | 3 571 499.92 | 0.14 |
| USD	GOLDMAN SACHS GROUP INC 4.223%/VAR 18-01.05.29 | 10 000 000.00 | 11 874 939.00 | 0.45 |
| Total USD |  | 24 520 103.92 | 0.94 |
| Total des Obligations, taux variable |  | 24 520 103.92 | 0.94 |
| Total des Titres et instruments du marché monétaire négociés sur une bourse officielle |  | 1 951 063 762.87 | 74.59 |
| 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 | 2 000 000.00 | 1 791 220.00 | 0.07 |
| USD	WP GLIMCHER MALL TRUST-144A-SUB VAR 15-01.06.35 | 10 200 000.00 | 8 454 654.54 | 0.32 |
| Total USD |  | 10 245 874.54 | 0.39 |
| Total des Titres adossés à des hypothèques, taux variable |  | 10 245 874.54 | 0.39 |
| Billets, taux fixe |  |  |  |
| USD |  |  |  |
| USD	AKER BP ASA-144A 3.00000% 20-15.01.25 | 7 000 000.00 | 7 118 761.30 | 0.27 |
| USD	AMERICAN ELECTRIC POWER INC 2.95000% 12-15.12.22 | 5 250 000.00 | 5 478 550.87 | 0.21 |
| USD	AT&T INC 4.12500% 16-17.02.26 | 5 000 000.00 | 5 794 597.50 | 0.22 |
| USD	AXA EQUITABLE HOLDINGS INC 4.35000% 19-20.04.28 | 6 000 000.00 | 7 098 537.00 | 0.27 |
| USD	BACARDI LTD-144A 4.45000% 18-15.05.25 | 11 000 000.00 | 12 409 492.70 | 0.47 |
| USD	BAXTER INTERNATIONAL INC-144A 3.95000% 20-01.04.30 | 5 875 000.00 | 7 037 236.56 | 0.27 |
| USD	BRISTOL MYERS SQUIBB CO 3.62500% 20-15.05.24 | 5 000 000.00 | 5 475 841.50 | 0.21 |
| USD	BRISTOL-MYERS SQUIBB CO 4.00000% 20-15.08.23 | 8 000 000.00 | 8 798 159.20 | 0.34 |
| USD	BROADCOM INC 3.15000% 20-15.11.25 | 4 000 000.00 | 4 346 348.80 | 0.17 |
| USD	BROADCOM INC 4.11000% 20-15.09.28 | 5 311 000.00 | 6 083 959.75 | 0.23 |
| USD	BROADCOM INC 4.25000% 20-15.04.26 | 4 000 000.00 | 4 568 540.80 | 0.17 |
| USD	CCO HOLDINGS LLC/CAPITAL CORP-144A 5.50000% 16-01.05.26 | 5 000 000.00 | 5 207 500.00 | 0.20 |
| USD	CCO HOLDINGS LLC/CAPITAL CORP-144A 4.75000% 19-01.03.30 | 2 000 000.00 | 2 121 900.00 | 0.08 |
| USD	CENTENE CORP 4.62500% 20-15.12.29 | 1 100 000.00 | 1 205 875.00 | 0.05 |
| USD	CENTENE CORP-144A 5.37500% 18-01.06.26 | 2 550 000.00 | 2 680 687.50 | 0.10 |
| USD	CHENIERE CORPUS CHRISTI HLDGS LLC 5.12500% 17-30.06.27 | 3 500 000.00 | 4 061 222.20 | 0.16 |
| USD	CHEVRON PHILLIPS CHEMICAL CO LLC-144A 3.30000% 18-01.05.23 | 2 500 000.00 | 2 644 996.00 | 0.10 |
| USD	CHEVRON PHILLIPS CHEMICAL CO LLC-144A 3.70000% 18-01.06.28 | 7 000 000.00 | 7 859 238.10 | 0.30 |
| USD	CITIGROUP INC-SUB 4.60000% 16-09.03.26 | 5 000 000.00 | 5 840 386.00 | 0.22 |
| USD	COSTCO WHOLESALE CORP 1.60000% 20-20.04.30 | 9 000 000.00 | 9 228 609.00 | 0.35 |
| USD	DELL INTERNATIONAL LLC / EMC CORP-144A 5.45000% 16-15.06.23 | 2 500 000.00 | 2 759 914.25 | 0.11 |
| USD	DELL INTERNATIONAL LLC / EMC CORP-144A 6.02000% 16-15.06.26 | 12 000 000.00 | 14 570 354.40 | 0.56 |
| USD	DELL INTERNATIONAL LLC / EMC CORP-144A 7.12500% 16-15.06.24 | 5 500 000.00 | 5 699 375.00 | 0.22 |
| USD	DTE ENERGY CO 3.85000% 13-01.12.23 | 6 011 000.00 | 6 537 681.41 | 0.25 |
| USD	ELANCO ANIMAL HEALTH INC 4.27200% 19-28.08.23 | 1 403 000.00 | 1 524 310.39 | 0.06 |
| USD	ENEL FINANCE INTERNATIONAL NV-144A 3.62500% 17-25.05.27 | 2 500 000.00 | 2 836 409.75 | 0.11 |
| USD	ENEL FINANCE INTERNATIONAL NV-144A 2.87500% 17-25.05.22 | 5 000 000.00 | 5 165 390.00 | 0.20 |
| USD	ERAC USA FINANCE LLC-144A 3.85000% 14-15.11.24 | 7 250 000.00 | 8 055 469.92 | 0.31 |
| USD	ERAC USA FINANCE LLC-144A 2.70000% 16-01.11.23 | 3 545 000.00 | 3 749 425.61 | 0.14 |
| USD	FIVE CORNERS FUNDING TRUST II -144A 2.85000% 20-15.05.30 | 10 000 000.00 | 11 164 723.00 | 0.43 |
| USD	GE CAPITAL FUNDING LLC-144A 3.45000% 20-15.05.25 | 5 000 000.00 | 5 433 977.00 | 0.21 |
| USD	GENERAL MOTORS FINANCIAL CO INC 4.25000% 14-15.05.23 | 6 500 000.00 | 7 002 540.35 | 0.27 |
| USD	GLENCORE FUNDING LLC-144A 4.12500% 19-12.03.24 | 6 000 000.00 | 6 537 570.00 | 0.25 |
| USD	GLP CAPITAL LP / GLP FINANC II INC 4.00000% 19-15.01.30 | 8 000 000.00 | 8 576 800.00 | 0.33 |
| USD	HARLEY-DAVIDSON FIN.SERV INC-144A 3.35000% 18-15.02.23 | 11 500 000.00 | 11 940 244.15 | 0.46 |
| USD	HCA INC 5.00000% 14-15.03.24 | 6 750 000.00 | 7 591 754.70 | 0.29 |
| USD	INFOR INC-144A 1.45000% 20-15.07.23 | 3 000 000.00 | 3 046 378.20 | 0.12 |
| USD	JPMORGAN CHASE & CO-SUB 3.62500% 16-01.12.27 | 12 500 000.00 | 14 177 342.50 | 0.54 |
| USD	KINDER MORGAN INC-144A 5.62500% 13-15.11.23 | 3 225 000.00 | 3 645 192.67 | 0.14 |
| USD	LEVEL 3 FINANCING INC-144A 3.40000% 19-01.03.27 | 8 150 000.00 | 8 794 502.00 | 0.34 |
| USD	MARATHON OIL CORP 2.80000% 12-01.11.22 | 1 357 000.00 | 1 398 956.67 | 0.05 |
| USD	METROPOLITAN EDISON CO-144A 3.50000% 13-15.03.23 | 1 315 000.00 | 1 371 677.69 | 0.05 |
| USD	METROPOLITAN LIFE GLOBAL FUNDING-144A 0.90000% 20-08.06.23 | 10 000 000.00 | 10 132 768.00 | 0.39 |
| USD	MORGAN STANLEY 3.87500% 14-29.04.24 | 13 500 000.00 | 14 927 423.85 | 0.57 |
| USD	MPLX LP 3.50000% 20-01.12.22 | 3 000 000.00 | 3 144 641.70 | 0.12 |
| USD	NESTLE HOLDINGS INC-144A 0.62500% 20-15.01.26 | 12 500 000.00 | 12 427 079.00 | 0.47 |
| USD	NORDEA BANK ABP-144A-SUB 4.25000% 12-21.09.22 | 2 500 000.00 | 2 657 025.75 | 0.10 |
| USD	NOVA CHEMICALS CORP-144A 4.87500% 17-01.06.24 | 3 000 000.00 | 3 090 000.00 | 0.12 |
| USD	NRG ENERGY INC-144A 3.75000% 19-15.06.24 | 1 975 000.00 | 2 125 611.92 | 0.08 |
| USD	NXP BV / NXP FUNDING LLC-144A 5.55000% 18-01.12.28 | 12 000 000.00 | 15 101 842.80 | 0.58 |
| USD	NXP BV / NXP FUNDING LLC-144A 4.87500% 18-01.03.24 | 10 000 000.00 | 11 277 958.00 | 0.43 |
| USD	OTIS WORLDWIDE CORP 2.05600% 20-05.04.25 | 13 000 000.00 | 13 674 337.30 | 0.52 |

UBS (Lux) Bond SICAV – USD Investment Grade 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 | PRINCIPAL FINANCIAL GROUP 3.12500% 12-15.05.23 | 5 000 000.00 | 5 335 885.50 | 0.20 |
| USD | RAYTHEON TECHNOLOGIES CORP-144A 3.50000% 20-15.03.27 | 6 000 000.00 | 6 821 684.40 | 0.26 |
| USD | SOCIETE GENERALE-144A 2.62500% 19-16.10.24 | 10 000 000.00 | 10 504 846.00 | 0.40 |
| USD | UPJOHN INC-144A 2.30000% 20-22.06.27 | 3 500 000.00 | 3 688 046.95 | 0.14 |
| USD | VOLKSWAGEN GRP OF AMERICA FINANCE-144A 4.62500% 18-13.11.25 | 10 000 000.00 | 11 612 868.00 | 0.44 |
| Total USD |  |  | 383 162 448.61 | 14.65 |
| Total des Billets, taux fixe |  | 383 162 448.61 | 14.65 |
| Medium-Term Notes, taux fixe |  |  |  |
| USD |  |  |  |
| USD	HYUNDAI CAPITAL AMERICA-144A 3.25000% 17-20.09.22 | 10 000 000.00 | 10 401 045.00 | 0.40 |
| USD	INTESA SANPAOLO SPA-144A 6.50000% 11-24.02.21 | 7 500 000.00 | 7 592 998.50 | 0.29 |
| USD	NATIONAL AUSTRALIA BANK LTD-144A-SUB 2.33200% 20-21.08.30 | 7 105 000.00 | 7 084 608.65 | 0.27 |
| USD	WELLS FARGO & CO 3.00000% 15-19.02.25 | 4 000 000.00 | 4 336 112.40 | 0.17 |
| USD	WELLS FARGO & CO-SUB 4.30000% 15-22.07.27 | 5 000 000.00 | 5 832 786.00 | 0.22 |
| Total USD |  | 35 247 550.55 | 1.35 |
| Total des Medium-Term Notes, taux fixe |  | 35 247 550.55 | 1.35 |
| Medium-Term Notes, taux variable |  |  |  |
| USD |  |  |  |
| USD	AUSTRALIA & NEWZEALAND BKG-144A-SUB 2.950%/VAR 20-22.07.30 | 2 650 000.00 | 2 769 859.50 | 0.10 |
| USD	COMMONWEALTH BANK AUSRALIA-144A-SUB 3.610%/VAR 19-12.09.34 | 2 080 000.00 | 2 269 092.80 | 0.09 |
| USD	COOPERATIEVE RABOBANK UA-144A 1.339%/VAR 20-24.06.26 | 10 200 000.00 | 10 355 611.20 | 0.40 |
| Total USD |  | 15 394 563.50 | 0.59 |
| Total des Medium-Term Notes, taux variable |  | 15 394 563.50 | 0.59 |
| Obligations, taux fixe |  |  |  |
| USD |  |  |  |
| USD	AERCAP IRE CAP LTD/GLB AVIA TRUST 4.62500% 15-01.07.22 | 10 000 000.00 | 10 492 153.00 | 0.40 |
| USD	AMERICA MOVIL SAB DE CV 3.12500% 12-16.07.22 | 5 950 000.00 | 6 188 000.00 | 0.24 |
| USD	COMMONWEALTH BK OF AUSTRALIA-144A-SUB 4.50000% 15-09.12.25 | 5 000 000.00 | 5 687 200.00 | 0.22 |
| USD	FIVE CORNERS FUNDING TRUST-144A 4.41900% 13-15.11.23 | 10 000 000.00 | 11 127 706.00 | 0.42 |
| USD	NGPL PIPECO LLC-144A 4.87500% 17-15.08.27 | 9 500 000.00 | 10 621 901.55 | 0.40 |
| Total USD |  | 44 116 960.55 | 1.68 |
| Total des Obligations, taux fixe |  | 44 116 960.55 | 1.68 |
| Total des Titres et instruments du marché monétaire négociés sur un autre marché réglementé |  | 488 167 397.75 | 18.66 |

Titres et instruments du marché monétaire non négociés sur une bourse officielle ou un autre marché réglementé
Billets, taux fixe
| USD |  |
| --- | --- |
| USD | FIFTH THIRD BANK 1.80000% 20-30.01.23 | 8 000 000.00 | 8 233 485.60 | 0.31 |
| USD | RAYTHEON TECHNOLOGIES CORP-144A 3.20000% 20-15.03.24 | 5 000 000.00 | 5 388 068.50 | 0.21 |
| USD | TECK RESOURCES LTD 3.90000% 20-15.07.30 | 5 000 000.00 | 5 455 505.00 | 0.21 |
| Total USD |  |  | 19 077 059.10 | 0.73 |
| Total des Billets, taux fixe | 19 077 059.10 | 0.73 |
| Total des Titres et instruments du marché monétaire non négociés sur une bourse officielle ou un autre marché réglementé	19 077 059.10 | 0.73 |
| Nouvelles émissions de titres et instruments du marché monétaire |  |  |
| Billets, taux fixe |  |  |
| USD |  |  |  |  |
| USD | AES CORP-144A 1.37500% 20-15.01.26 | 6 500 000.00 | 6 554 785.90 | 0.25 |
| USD | AUSTRALIA & NEW ZEALAND BANK-144A-SUB 2.57000% 20-25.11.35	10 000 000.00 | 10 169 343.00 | 0.39 |
| USD | CARRIER GLOBAL CORP-144A 2.72200% 20-15.02.30 | 6 500 000.00 | 6 924 827.65 | 0.27 |
| USD | CARRIER GLOBAL CORP-144A 2.24200% 20-15.02.25 | 5 000 000.00 | 5 250 726.50 | 0.20 |
| USD | CARRIER GLOBAL CORP-144A 2.49300% 20-15.02.27 | 2 000 000.00 | 2 136 287.20 | 0.08 |
| USD | GE CAPITAL FUNDING LLC-144A 4.40000% 20-15.05.30 | 3 000 000.00 | 3 456 255.60 | 0.13 |
| USD | GRAPHIC PACKAGING INTERNATIONL INC-144A 3.50000% 20-15.03.28 | 8 250 000.00 | 8 598 232.50 | 0.33 |
| USD | SEAGATE HDD CAYMAN-144A 4.09100% 20-01.06.29 | 2 000 000.00 | 2 211 840.00 | 0.08 |
| Total USD |  |  | 45 302 298.35 | 1.73 |
| Total des Billets, taux fixe |  | 45 302 298.35 | 1.73 |
| Billets, taux variable |  |  |  |
| USD |  |  |  |
| USD	BNP PARIBAS-144A 3.052%/VAR 20-13.01.31 | 3 650 000.00 | 3 962 454.23 | 0.15 |
| Total USD |  | 3 962 454.23 | 0.15 |
| Total des Billets, taux variable |  | 3 962 454.23 | 0.15 |

UBS (Lux) Bond SICAV – USD Investment Grade 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) |  |
| Medium-Term Notes, taux fixe |  |  |  |
| USD |  |  |  |
| USD	SOCIETE GENERALE SA-144A 2.62500% 20-22.01.25 | 8 000 000.00 | 8 416 268.80 | 0.33 |
| Total USD |  | 8 416 268.80 | 0.33 |
| Total des Medium-Term Notes, taux fixe |  | 8 416 268.80 | 0.33 |
| Total des Nouvelles émissions de titres et instruments du marché monétaire |  | 57 681 021.38 | 2.21 |
| Total du Portefeuille-titres |  | 2 515 989 241.10 | 96.19 |

| Instruments dérivés |  |
| --- | --- |
| Instruments dérivés négociés sur une bourse officielle Contrats financiers à terme sur obligations |
|  |  |  |  |
| USD	US 10YR TREASURY NOTE FUTURE 22.03.21 | -400.00 | -143 750.00 | -0.01 |
| Total des Contrats financiers à terme sur obligations |  | -143 750.00 | -0.01 |
| Total des Instruments dérivés négociés sur une bourse officielle |  | -143 750.00 | -0.01 |
| Total des Instruments dérivés |  | -143 750.00 | -0.01 |
| Contrats de change à terme Devise achetée/Montant acheté/Devise vendue/Montant vendu/Date de maturité |  |  |  |

| CHF | 252 784 300.00 | USD | 277 813 947.61 | 21.1.2021 | 1 949 839.17 | 0.07 |
| --- | --- | --- | --- | --- | --- | --- |
| Total des Contrats de change à terme | 1 949 839.17 | 0.07 |
|  |  |  |
| Avoirs en banque, dépôts à vue et à terme et autres liquidités | 78 517 093.07 | 3.00 |
| Crédit en compte courant et autres engagements à court terme | -10.84 | 0.00 |
| Autres actifs et passifs | 19 431 701.67 | 0.75 |
| Total de l’Actif net | 2 615 744 114.17 | 100.00 |

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