# UBS (Lux) Bond SICAV – USD Corporates (USD)
| Most important figures |  |
| --- | --- |
|  | ISIN | 30.11.2022 | 31.5.2022 | 31.5.2021 |
| Net assets in USD |  | 194 483 904.75 | 216 964 860.07 | 471 435 415.69 |
| Class F-acc | LU0396366626 |  |  |  |
| Shares outstanding |  | 474 663.8470 | 473 963.8470 | 1 192 139.8470 |
| Net asset value per share in USD |  | 19.57 | 20.46 | 22.72 |
| Issue and redemption price per share in USD 1 |  | 19.57 | 20.46 | 22.72 |
| Class I-A1-acc | LU0396367277 |  |  |  |
| Shares outstanding |  | 106 575.0660 | 112 364.2010 | 138 597.8710 |
| Net asset value per share in USD |  | 141.07 | 147.55 | 164.11 |
| Issue and redemption price per share in USD 1 |  | 141.07 | 147.55 | 164.11 |
| Class I-A3-acc | LU0396367608 |  |  |  |
| Shares outstanding |  | 7 687.4140 | 6 949.4140 | 6 927.4140 |
| Net asset value per share in USD |  | 115.72 | 120.95 | 134.33 |
| Issue and redemption price per share in USD 1 |  | 115.72 | 120.95 | 134.33 |
| Class I-B-dist 2 | LU2249863197 |  |  |  |
| Shares outstanding |  | - | - | 80 000.0000 |
| Net asset value per share in USD |  | - | - | 97.83 |
| Issue and redemption price per share in USD 1 |  | - | - | 97.83 |
| Class I-X-acc | LU0396368085 |  |  |  |
| Shares outstanding |  | 25 742.2450 | 48 507.5150 | 58 184.0660 |
| Net asset value per share in USD |  | 149.63 | 156.11 | 172.76 |
| Issue and redemption price per share in USD 1 |  | 149.63 | 156.11 | 172.76 |
| Class P-acc | LU0172069584 |  |  |  |
| Shares outstanding |  | 3 426 404.2990 | 3 518 417.3880 | 5 005 569.8310 |
| Net asset value per share in USD |  | 18.12 | 19.02 | 21.29 |
| Issue and redemption price per share in USD 1 |  | 18.12 | 19.02 | 21.29 |
| Class (CHF hedged) P-acc | LU0776291220 |  |  |  |
| Shares outstanding |  | 37 620.2090 | 38 473.5400 | 47 186.8550 |
| Net asset value per share in CHF |  | 98.26 | 104.90 | 119.04 |
| Issue and redemption price per share in CHF 1 |  | 98.26 | 104.90 | 119.04 |
| Class P-mdist | LU0849272793 |  |  |  |
| Shares outstanding |  | 21 121.4950 | 19 849.6770 | 79 730.9070 |
| Net asset value per share in USD |  | 78.08 | 83.65 | 97.55 |
| Issue and redemption price per share in USD 1 |  | 78.08 | 83.65 | 97.55 |
| Class Q-acc | LU0396366972 |  |  |  |
| Shares outstanding |  | 510 165.0860 | 547 287.6780 | 731 658.7800 |
| Net asset value per share in USD |  | 163.39 | 171.01 | 190.46 |
| Issue and redemption price per share in USD 1 |  | 163.39 | 171.01 | 190.46 |
| Class (CHF hedged) Q-acc | LU1240777026 |  |  |  |
| Shares outstanding |  | 77 996.3460 | 79 463.8420 | 106 878.8290 |
| Net asset value per share in CHF |  | 96.22 | 102.44 | 115.62 |
| Issue and redemption price per share in CHF 1 |  | 96.22 | 102.44 | 115.62 |
| Class (EUR hedged) Q-acc | LU0848113352 |  |  |  |
| Shares outstanding |  | 62 443.9860 | 63 781.4630 | 136 633.0200 |
| Net asset value per share in EUR |  | 102.18 | 108.53 | 121.91 |
| Issue and redemption price per share in EUR 1 |  | 102.18 | 108.53 | 121.91 |
| Class U-X-acc 3 | LU0396368242 |  |  |  |
| Shares outstanding | -	- | 8 426.0000 |
| Net asset value per share in USD | -	- | 12 902.82 |
| Issue and redemption price per share in USD 1 | -	- | 12 902.82 |
| 1  See note 1 2  For the period from 19.1.2021 to 17.8.2021 the share class I-B-dist was in circulation 3  The share class U-X-acc was in circulation until 9.11.2021 |  |  |

UBS (Lux) Bond SICAV – USD Corporates (USD) Semi-Annual Report as of 30 November 2022

### Structure of the Securities Portfolio
Geographical Breakdown as a % of net assets	
United States	65.20
United Kingdom	7.20
Australia	4.73
Canada	4.31
The Netherlands	2.56
France	2.45
Luxembourg	2.33
Japan	2.18
Norway	1.69
Ireland	1.51
Multinationals	1.06
Bermuda	0.47
Spain	0.22
Total	95.91
Economic Breakdown as a % of net assets	
Banks & credit institutions	22.13
Finance & holding companies	16.26
Energy & water supply	9.48
Telecommunications	5.27
Retail trade, department stores	3.86
Pharmaceuticals, cosmetics & medical products	3.62
Traffic & transportation	3.07
Healthcare & social services	2.99
Petroleum	2.69
Internet, software & IT services	2.68
Computer hardware & network equipment providers	2.34
Food & soft drinks	1.98
Electronics & semiconductors	1.95
Investment funds	1.81
Tobacco & alcohol	1.73
Real Estate	1.71
Insurance	1.68
Biotechnology	1.57
Electrical devices & components	1.30
Mechanical engineering & industrial equipment	1.21
Graphic design, publishing & media	1.11
Mining, coal & steel	0.98
Vehicles	0.86
Chemicals	0.78
Non-ferrous metals	0.52
Miscellaneous trading companies	0.51
Mortgage & funding institutions	0.50
Miscellaneous services	0.49
Aerospace industry	0.45
Building industry & materials	0.38
Total	95.91
UBS (Lux) Bond SICAV – USD Corporates (USD) Semi-Annual Report as of 30 November 2022

### Statement of Net Assets
Assets	30.11.2022
USD
Investments in securities, cost	211 187 007.64
| Investments in securities, unrealized appreciation (depreciation) | 	-24 652 521.83	 |
| --- | --- |
| Total investments in securities (Note 1) | 186 534 485.81 |
| Cash at banks, deposits on demand and deposit accounts | 2 310 450.16 |
| Other liquid assets (Margins) | 102 475.62 |
| Receivable on securities sales (Note 1) | 6 011 390.83 |
| Receivable on subscriptions | 36 323.97 |
| Interest receivable on securities | 1 866 282.84 |
| Prepaid expenses | 25 278.89 |
| Total Assets | 196 886 688.12 |
|  |  |
| Liabilities |  |
| Unrealized loss on financial futures (Note 1) | -16 843.73 |
| Unrealized loss on forward foreign exchange contracts (Note 1) | -250 699.99 |
| Payable on securities purchases (Note 1) | -1 986 370.00 |
| Payable on redemptions | -925.54 |
| Provisions for flat fee (Note 2) | -119 640.02 |
| Provisions for taxe d’abonnement (Note 3) | -14 557.27 |
| Provisions for other commissions and fees (Note 2) | 	-13 746.82	 |
| Total provisions | -147 944.11 |
| Total Liabilities | -2 402 783.37 |
|  |  |
| Net assets at the end of the period | 194 483 904.75 |
| Statement of Operations | USD |
| Income | 1.6.2022-30.11.2022 |
| Interest on liquid assets | 36 825.37 |
| Interest on securities | 3 947 801.88 |
| Net income on securities lending (Note 11) | 3 906.23 |
| Other income (Note 4) | 10 426.18 |
| Total income | 3 998 959.66 |
|  |  |
| Expenses |  |
| Flat fee (Note 2) | -765 675.47 |
| Taxe d’abonnement (Note 3) | -41 664.55 |
| Other commissions and fees (Note 2) | -13 311.28 |
| Interest on cash and bank overdraft | -1 299.90 |
| Total expenses | -821 951.20 |
|  |  |
| Net income (loss) on investments | 3 177 008.46 |
|  |  |
| Realized gain (loss) (Note 1) |  |
| Realized gain (loss) on market-priced securities without options | -7 014 357.20 |
| Realized gain (loss) on financial futures | -507 108.29 |
| Realized gain (loss) on forward foreign exchange contracts | -354 796.37 |
| Realized gain (loss) on foreign exchange | 508 277.46 |
| Total realized gain (loss) | -7 367 984.40 |
|  |  |
| Net realized gain (loss) of the period | -4 190 975.94 |
|  |  |
| Changes in unrealized appreciation (depreciation) (Note 1) |  |
| Unrealized appreciation (depreciation) on market-priced securities without options | -5 504 438.70 |
| Unrealized appreciation (depreciation) on financial futures | 87 125.01 |
| Unrealized appreciation (depreciation) on forward foreign exchange contracts | -707 488.75 |
| Total changes in unrealized appreciation (depreciation) | -6 124 802.44 |
|  |  |
| Net increase (decrease) in net assets as a result of operations | -10 315 778.38 |

UBS (Lux) Bond SICAV – USD Corporates (USD) Semi-Annual Report as of 30 November 2022
| Changes in Net Assets |  |
| --- | --- |
|  |  | USD |
|  |  | 1.6.2022-30.11.2022 |
| Net assets at the beginning of the period |  | 216 964 860.07 |
| Subscriptions |  | 8 290 693.45 |
| Redemptions |  | 	-20 422 423.79	 |
| Total net subscriptions (redemptions) |  | -12 131 730.34 |
| Dividend paid |  | -33 446.60 |
| Net income (loss) on investments |  | 3 177 008.46 |
| Total realized gain (loss) |  | -7 367 984.40 |
| Total changes in unrealized appreciation (depreciation) |  | 	-6 124 802.44	 |
| Net increase (decrease) in net assets as a result of operations |  | -10 315 778.38 |
| Net assets at the end of the period |  | 194 483 904.75 |
| Changes in the Number of Shares outstanding |  |  |
|  |  | 1.6.2022-30.11.2022 |
| Class |  | F-acc |
| Number of shares outstanding at the beginning of the period |  | 473 963.8470 |
| Number of shares issued |  | 700.0000 |
| Number of shares redeemed |  | 0.0000 |
| Number of shares outstanding at the end of the period |  | 474 663.8470 |
| Class |  | I-A1-acc |
| Number of shares outstanding at the beginning of the period |  | 112 364.2010 |
| Number of shares issued |  | 8 991.8320 |
| Number of shares redeemed |  | -14 780.9670 |
| Number of shares outstanding at the end of the period |  | 106 575.0660 |
| Class |  | I-A3-acc |
| Number of shares outstanding at the beginning of the period |  | 6 949.4140 |
| Number of shares issued |  | 3 494.0000 |
| Number of shares redeemed |  | -2 756.0000 |
| Number of shares outstanding at the end of the period |  | 7 687.4140 |
| Class |  | I-X-acc |
| Number of shares outstanding at the beginning of the period |  | 48 507.5150 |
| Number of shares issued |  | 0.0000 |
| Number of shares redeemed |  | -22 765.2700 |
| Number of shares outstanding at the end of the period |  | 25 742.2450 |
| Class |  | P-acc |
| Number of shares outstanding at the beginning of the period |  | 3 518 417.3880 |
| Number of shares issued |  | 215 063.9960 |
| Number of shares redeemed |  | -307 077.0850 |
| Number of shares outstanding at the end of the period |  | 3 426 404.2990 |
| Class |  | (CHF hedged) P-acc |
| Number of shares outstanding at the beginning of the period |  | 38 473.5400 |
| Number of shares issued |  | 539.3710 |
| Number of shares redeemed |  | -1 392.7020 |
| Number of shares outstanding at the end of the period |  | 37 620.2090 |
| Class |  | P-mdist |
| Number of shares outstanding at the beginning of the period |  | 19 849.6770 |
| Number of shares issued |  | 1 391.3630 |
| Number of shares redeemed |  | -119.5450 |
| Number of shares outstanding at the end of the period |  | 21 121.4950 |
| Class |  | Q-acc |
| Number of shares outstanding at the beginning of the period |  | 547 287.6780 |
| Number of shares issued |  | 11 656.8230 |
| Number of shares redeemed |  | -48 779.4150 |
| Number of shares outstanding at the end of the period |  | 510 165.0860 |
| Class |  | (CHF hedged) Q-acc |
| Number of shares outstanding at the beginning of the period |  | 79 463.8420 |
| Number of shares issued |  | 2 998.2950 |
| Number of shares redeemed |  | -4 465.7910 |
| Number of shares outstanding at the end of the period |  | 77 996.3460 |
| Class |  | (EUR hedged) Q-acc |
| Number of shares outstanding at the beginning of the period |  | 63 781.4630 |
| Number of shares issued |  | 2 525.1890 |
| Number of shares redeemed |  | -3 862.6660 |
| Number of shares outstanding at the end of the period |  | 62 443.9860 |
| Monthly Distribution 1 |  |  |
| UBS (Lux) Bond SICAV – USD Corporates (USD)	Ex-Date | Pay-Date | Currency	Amount per share |
| P-mdist	15.6.2022 | 21.6.2022 | USD	0.28 |
| P-mdist	15.7.2022 | 20.7.2022 | USD	0.27 |
| P-mdist	16.8.2022 | 19.8.2022 | USD	0.28 |
| P-mdist	15.9.2022 | 20.9.2022 | USD	0.27 |
| P-mdist	17.10.2022 | 20.10.2022 | USD	0.25 |
| P-mdist	15.11.2022 | 18.11.2022 | USD	0.28 |
| 1  See note 5 |  |  |
| UBS (Lux) Bond SICAV – USD Corporates (USD) Semi-Annual Report as of 30 November 2022 |  |  |


### Statement of Investments in Securities and other Net Assets as of 30 November 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 |  |  |  |
| Notes, fixed rate |  |  |  |
| USD |  |  |  |
| USD	ABBVIE INC 3.20000% 20-21.11.29 | 2 000 000.00 | 1 825 956.28 | 0.94 |
| USD	ABBVIE INC 3.80000% 20-15.03.25 | 1 250 000.00 | 1 222 921.15 | 0.63 |
| USD	AERCAP IRELAND CAP/ GLBL AVIATION TRUST 6.50000% 20-15.07.25 | 2 000 000.00 | 2 020 520.14 | 1.04 |
| USD	AERCAP IRELAND CAPITAL DAC / AERCAP 1.65000% 21-29.10.24 | 1 000 000.00 | 920 165.71 | 0.47 |
| USD	AIR LEASE CORP 5.85000% 22-15.12.27 | 1 000 000.00 | 993 219.19 | 0.51 |
| USD	ALEXANDRIA REAL ESTATE EQUITY INC 1.87500% 20-01.02.33 | 1 500 000.00 | 1 115 475.81 | 0.57 |
| USD	AMAZON.COM INC 2.50000% 20-03.06.50 | 1 540 000.00 | 1 005 903.05 | 0.52 |
| USD	AMERICAN EXPRESS CO 3.95000% 22-01.08.25 | 1 000 000.00 | 979 262.91 | 0.50 |
| USD	AMGEN INC 3.15000% 20-21.02.40 | 830 000.00 | 638 149.99 | 0.33 |
| USD	ANHEUSER-BUSCH COS 4.70000% 19-01.02.36 | 3 500 000.00 | 3 358 231.38 | 1.73 |
| USD	APPLE INC 1.65000% 20-11.05.30 | 1 660 000.00 | 1 381 581.13 | 0.71 |
| USD	APPLE INC 3.45000% 15-09.02.45 | 2 500 000.00 | 2 065 787.18 | 1.06 |
| USD	ARCELORMITTAL SA 6.55000% 22-29.11.27 | 1 000 000.00 | 1 008 620.37 | 0.52 |
| USD	AT&T INC 3.65000% 20-01.06.51 | 1 000 000.00 | 732 377.90 | 0.38 |
| USD	AT&T INC 4.35000% 13-15.06.45 | 1 500 000.00 | 1 240 633.88 | 0.64 |
| USD	AT&T INC 4.85000% 19-01.03.39 | 1 000 000.00 | 916 309.79 | 0.47 |
| USD	BANK OF NOVA SCOTIA/THE 3.45000% 22-11.04.25 | 1 000 000.00 | 967 582.08 | 0.50 |
| USD	BARCLAYS PLC-SUB 4.37500% 14-11.09.24 | 1 870 000.00 | 1 821 290.50 | 0.94 |
| USD	BP CAPITAL MARKETS AMERICA INC 3.00000% 20-24.02.50 | 1 000 000.00 | 689 093.30 | 0.35 |
| USD	CANADIAN IMPERIAL BANK OF COMMERCE 3.30000% 22-07.04.25 | 1 500 000.00 | 1 445 344.15 | 0.74 |
| USD	CANADIAN PACIFIC RAILWAY 3.10000% 21-02.12.51 | 1 000 000.00 | 703 059.81 | 0.36 |
| USD	CCO LLC/CAPITAL 6.38400% 16-23.10.35 | 1 120 000.00 | 1 102 012.18 | 0.57 |
| USD	CIGNA CORP 2.40000% 20-15.03.30 | 2 000 000.00 | 1 698 670.94 | 0.87 |
| USD	CITIGROUP INC 3.70000% 16-12.01.26 | 3 190 000.00 | 3 062 081.99 | 1.57 |
| USD	CREDIT AGRICOLE SA-144A-SUB 4.37500% 15-17.03.25 | 1 660 000.00 | 1 592 205.60 | 0.82 |
| USD	CREDIT SUISSE AG/NEW YORK NY 3.70000% 22-21.02.25 | 1 000 000.00 | 910 421.17 | 0.47 |
| USD	CVS HEALTH CORP 5.05000% 18-25.03.48 | 1 500 000.00 | 1 392 983.63 | 0.72 |
| USD	DEERE & CO 3.90000% 12-09.06.42 | 1 000 000.00 | 899 424.67 | 0.46 |
| USD	ENBRIDGE INC 2.50000% 21-01.08.33 | 1 500 000.00 | 1 178 196.17 | 0.61 |
| USD	EQT CORP 3.90000% 17-01.10.27 | 1 000 000.00 | 925 711.66 | 0.48 |
| USD	EQUINOR ASA 2.87500% 20-06.04.25 | 2 490 000.00 | 2 394 738.05 | 1.23 |
| USD	ESTEE LAUDER COS INC 4.37500% 15-15.06.45 | 830 000.00 | 741 809.93 | 0.38 |
| USD	EVERSOURCE ENERGY 3.37500% 22-01.03.32 | 1 000 000.00 | 876 078.89 | 0.45 |
| USD	EXELON CORP 4.95000% 16-15.06.35 | 1 450 000.00 | 1 404 181.29 | 0.72 |
| USD	FORD MOTOR CREDIT CO 3.37500% 20-13.11.25 | 1 000 000.00 | 922 630.00 | 0.47 |
| USD	GENERAL MOTORS FINANCIAL CO INC 3.10000% 22-12.01.32 | 1 000 000.00 | 802 221.17 | 0.41 |
| USD	GEORGIA POWER CO 3.70000% 20-30.01.50 | 1 660 000.00 | 1 263 940.39 | 0.65 |
| USD	GILEAD SCIENCES INC 2.60000% 20-01.10.40 | 1 660 000.00 | 1 186 426.34 | 0.61 |
| USD	GOLDMAN SACHS GROUP INC 3.80000% 20-15.03.30 | 1 000 000.00 | 908 907.62 | 0.47 |
| USD	HCA INC 5.00000% 14-15.03.24 | 1 870 000.00 | 1 862 475.34 | 0.96 |
| USD	HCA INC 5.25000% 19-15.06.49 | 1 250 000.00 | 1 093 157.77 | 0.56 |
| USD	HOME DEPOT INC/THE 4.20000% 13-01.04.43 | 2 590 000.00 | 2 319 357.31 | 1.19 |
| USD	INTERCONTINENTAL EXCHANGE INC 3.00000% 20-15.06.50 | 1 825 000.00 | 1 269 325.64 | 0.65 |
| USD	KINROSS GOLD CORP 5.95000% 14-15.03.24 | 1 000 000.00 | 1 003 618.49 | 0.52 |
| USD	KRAFT HEINZ FOODS CO 4.37500% 16-01.06.46 | 1 000 000.00 | 842 862.08 | 0.43 |
| USD	KROGER CO 3.87500% 16-15.10.46 | 1 000 000.00 | 773 165.69 | 0.40 |
| USD	LLOYDS BANKING GROUP PLC 4.45000% 18-08.05.25 | 2 000 000.00 | 1 955 479.14 | 1.01 |
| USD	LOWE’S COS INC 2.80000% 21-15.09.41 | 2 250 000.00 | 1 589 113.91 | 0.82 |
| USD	LSEGA FINANCING PLC-144A 3.20000% 21-06.04.41 | 2 000 000.00 | 1 481 474.80 | 0.76 |
| USD	MERCK & CO INC 3.70000% 15-10.02.45 | 1 150 000.00 | 963 162.52 | 0.50 |
| USD	MICROSOFT CORP 2.52500% 20-01.06.50 | 2 000 000.00 | 1 377 376.70 | 0.71 |
| USD	MITSUBISHI UFJ FINANCIAL GRP INC 2.19300% 20-25.02.25 | 2 490 000.00 | 2 325 915.22 | 1.20 |
| USD	NATWEST GROUP PLC 4.80000% 16-05.04.26 | 1 660 000.00 | 1 617 853.40 | 0.83 |
| USD	NEXTERA ENERGY CAP 2.44000% 21-15.01.32 | 1 500 000.00 | 1 221 757.19 | 0.63 |
| USD	NORFOLK SOUTHERN CORP 4.10000% 19-15.05.49 | 1 660 000.00 | 1 368 087.44 | 0.70 |
| USD	NOVARTIS CAPITAL CORP 2.20000% 20-14.08.30 | 1 500 000.00 | 1 287 145.80 | 0.66 |
| USD	NUTRIEN LTD 5.90000% 22-07.11.24 | 1 500 000.00 | 1 517 324.55 | 0.78 |
| USD	NVIDIA CORP 2.85000% 20-01.04.30 | 830 000.00 | 732 170.88 | 0.38 |
| USD	ONEOK INC 6.10000% 22-15.11.32 | 1 000 000.00 | 1 018 205.09 | 0.52 |
| USD	ORACLE CORP 4.37500% 15-15.05.55 | 3 000 000.00 | 2 280 957.12 | 1.17 |
| USD	ORACLE CORP 6.90000% 22-09.11.52 | 850 000.00 | 941 438.07 | 0.48 |
| USD	PAYPAL HOLDINGS INC 2.30000% 20-01.06.30 | 1 660 000.00 | 1 373 492.20 | 0.71 |
| USD	PEPSICO INC 2.62500% 21-21.10.41 | 1 660 000.00 | 1 256 881.56 | 0.65 |
| USD	PRUDENTIAL FINANCIAL INC 3.93500% 18-07.12.49 | 1 986 000.00 | 1 560 313.46 | 0.80 |
| USD	PUBLIC STORAGE 3.09400% 17-15.09.27 | 1 500 000.00 | 1 403 903.03 | 0.72 |
| USD	QUALCOMM INC 4.30000% 17-20.05.47 | 250 000.00 | 219 347.84 | 0.11 |
| USD	QUALCOMM INC 6.00000% 22-20.05.53 | 850 000.00 | 925 035.88 | 0.48 |
| USD	QUANTA SERVICES INC 3.05000% 21-01.10.41 | 1 500 000.00 | 1 008 683.95 | 0.52 |
| USD	RABOBANK NEDERLAND NV-SUB 3.75000% 16-21.07.26 | 1 000 000.00 | 938 702.17 | 0.48 |
| USD	SABINE PASS LIQUEFACTION LLC 5.00000% 17-15.03.27 | 1 450 000.00 | 1 431 278.23 | 0.74 |
| USD	SALESFORCE.COM INC 2.70000% 21-15.07.41 | 830 000.00 | 612 673.50 | 0.31 |
| USD	SHERWIN-WILLIAMS CO 4.50000% 17-01.06.47 | 850 000.00 | 736 300.56 | 0.38 |
| USD	SUMITOMO MITSUI FIN GP INC 2.69600% 19-16.07.24 | 2 000 000.00 | 1 913 635.80 | 0.98 |
| USD	T-MOBILE USA INC 3.60000% 21-15.11.60 | 1 900 000.00 | 1 316 918.50 | 0.68 |
| USD	TARGET CORP 1.95000% 22-15.01.27 | 2 000 000.00 | 1 828 300.74 | 0.94 |
| USD	TELEFONICA EMISIONES SA 5.52000% 19-01.03.49 | 500 000.00 | 427 611.19 | 0.22 |
| USD	TOTAL CAPITAL INTERNATIONAL SA 3.12700% 20-29.05.50 | 1 000 000.00 | 722 427.06 | 0.37 |
| USD	UNITEDHEALTH GROUP INC 3.95000% 12-15.10.42 | 956 000.00 | 812 490.82 | 0.42 |
| USD	VERIZON COMMUNICATIONS INC 2.10000% 21-22.03.28 | 1 500 000.00 | 1 312 390.92 | 0.67 |
| USD	VICI PROPERTIES LP 5.62500% 22-15.05.52 | 900 000.00 | 812 511.00 | 0.42 |
| USD	VODAFONE GROUP PLC 4.87500% 19-19.06.49 | 1 000 000.00 | 852 656.96 | 0.44 |
| USD	WALT DISNEY CO 2.75000% 19-01.09.49 | 1 800 000.00 | 1 215 400.29 | 0.62 |
| Total USD |  | 103 836 507.20 | 53.39 |
| Total Notes, fixed rate |  | 103 836 507.20 | 53.39 |

UBS (Lux) Bond SICAV – USD Corporates (USD) Semi-Annual Report as of 30 November 2022
| Description | Quantity/ | Valuation in USD | as a % |
| --- | --- | --- | --- |
|  | Nominal | Unrealized gain | of net |
|  |  | (loss) on Futures/ | assets |
|  |  | Forward |  |
|  |  | Exchange Contracts/ |  |
|  |  | Swaps (Note 1) |  |
| Notes, floating rate |  |  |  |
| USD |  |  |  |
| USD	BANK OF AMERICA CORP 4.271%/VAR 18-23.07.29 | 1 500 000.00 | 1 412 011.65 | 0.73 |
| USD	BARCLAYS PLC 2.894%/VAR 21-24.11.32 | 1 000 000.00 | 763 788.46 | 0.39 |
| USD	CITIGROUP INC 2.572%/VAR 20-03.06.31 | 1 000 000.00 | 819 545.20 | 0.42 |
| USD	CITIGROUP INC 3.352%/VAR 19-24.04.25 | 1 000 000.00 | 967 024.93 | 0.50 |
| USD	GOLDMAN SACHS GROUP INC 3.272%/VAR 17-29.09.25 | 2 000 000.00 | 1 925 439.96 | 0.99 |
| USD	GOLDMAN SACHS GROUP INC/THE 1.992%/VAR 21-27.01.32 | 1 000 000.00 | 772 049.00 | 0.40 |
| USD	HSBC HOLDINGS PLC 2.633%/VAR 19-07.11.25 | 1 000 000.00 | 929 720.44 | 0.48 |
| USD	HSBC HOLDINGS PLC 2.099%/VAR 20-04.06.26 | 2 070 000.00 | 1 876 573.07 | 0.96 |
| USD	JPMORGAN CHASE & CO 2.545%/VAR 21-08.11.32 | 3 000 000.00 | 2 401 039.77 | 1.23 |
| USD	JPMORGAN CHASE & CO 4.912%/VAR 22-25.07.33 | 1 000 000.00 | 964 314.65 | 0.50 |
| USD	WESTPAC BANKING CORP-SUB 2.668%/VAR 20-15.11.35 | 1 000 000.00 | 734 005.10 | 0.38 |
| Total USD |  | 13 565 512.23 | 6.98 |
| Total Notes, floating rate |  | 13 565 512.23 | 6.98 |
| Medium term notes, fixed rate |  |  |  |
| USD |  |  |  |
| USD	ROYAL BANK OF CANADA 2.30000% 21-03.11.31 | 830 000.00 | 668 830.48 | 0.34 |
| Total USD |  | 668 830.48 | 0.34 |
| Total Medium term notes, fixed rate |  | 668 830.48 | 0.34 |
| Medium term notes, floating rate |  |  |  |
| USD |  |  |  |
| USD	BANK OF AMERICA CORP 3.559%/VAR 19-23.04.27 | 2 000 000.00 | 1 886 486.52 | 0.97 |
| USD	BANK OF AMERICA CORP 2.496%/3M LIBOR+99BP 20-13.02.31 | 4 500 000.00 | 3 702 160.35 | 1.90 |
| USD	MORGAN STANLEY 3.622%/VAR 20-01.04.31 | 3 000 000.00 | 2 673 473.91 | 1.38 |
| USD	MORGAN STANLEY 3.772%/VAR 18-24.01.29 | 1 240 000.00 | 1 141 844.54 | 0.59 |
| Total USD |  | 9 403 965.32 | 4.84 |
| Total Medium term notes, floating rate |  | 9 403 965.32 | 4.84 |
| Bonds, fixed rate |  |  |  |
| USD |  |  |  |
| USD	BALTIMORE GAS & ELECTRIC CO 3.50000% 16-15.08.46 | 1 040 000.00 | 784 938.40 | 0.40 |
| USD	CONSOLIDATED EDISON CO OF NEW YORK INC 4.65000% 18-01.12.48 | 1 240 000.00 | 1 089 131.06 | 0.56 |
| USD	DUKE ENERGY CAROLINAS LLC 6.05000% 08-15.04.38 | 765 000.00 | 811 071.13 | 0.42 |
| USD	DUKE ENERGY OHIO INC 4.30000% 19-01.02.49 | 1 660 000.00 | 1 373 942.34 | 0.71 |
| USD	EL PASO NATURAL GAS CO 8.37500% 03-15.06.32 | 1 050 000.00 | 1 207 168.10 | 0.62 |
| USD	SAN DIEGO GAS & ELECTRIC CO 4.10000% 19-15.06.49 | 830 000.00 | 685 332.76 | 0.35 |
| USD	SOUTHERN CALIFORNIA EDISON CO 3.65000% 20-01.02.50 | 2 000 000.00 | 1 492 329.02 | 0.77 |
| USD	SOUTHERN CALIFORNIA GAS CO 2.55000% 20-01.02.30 | 1 500 000.00 | 1 287 269.61 | 0.66 |
| Total USD |  | 8 731 182.42 | 4.49 |
| Total Bonds, fixed rate |  | 8 731 182.42 | 4.49 |
| Bonds, floating rate |  |  |  |
| USD |  |  |  |
| USD	BP CAPITAL MARKETS PLC-SUB 4.875%/VAR 20-PRP | 2 000 000.00 | 1 759 499.99 | 0.90 |
| Total USD |  | 1 759 499.99 | 0.90 |
| Total Bonds, floating rate |  | 1 759 499.99 | 0.90 |
| Total Transferable securities and money market instruments listed on an official stock exchange |  | 137 965 497.64 | 70.94 |
| Transferable securities and money market instruments traded on another regulated market |  |  |  |
| Notes, fixed rate |  |  |  |
| USD |  |  |  |
| USD	AKER BP ASA-144A 3.75000% 20-15.01.30 | 1 000 000.00 | 886 235.89 | 0.46 |
| USD	ALCON FINANCE CORP-144A 5.75000% 22-06.12.52 | 1 000 000.00 | 1 011 617.64 | 0.52 |
| USD	ANTHEM INC 5.35000% 22-15.10.25 | 1 000 000.00 | 1 014 028.94 | 0.52 |
| USD	AUSTRALIA & NEW ZEALAND BANK-144A-SUB 2.57000% 20-25.11.35 | 1 500 000.00 | 1 094 034.94 | 0.56 |
| USD	BAXTER INTERNATIONAL INC 1.91500% 22-01.02.27 | 1 000 000.00 | 891 138.91 | 0.46 |
| USD	CHENIERE CORPUS CHRISTI HLDGS LLC 5.12500% 17-30.06.27 | 250 000.00 | 250 338.33 | 0.13 |
| USD	CSL FINANCE PLC-144A 4.25000% 22-27.04.32 | 1 000 000.00 | 945 895.80 | 0.49 |
| USD	DAIMLER FINANCE NORTH AMERICA LLC-144A 3.30000% 15-19.05.25 | 1 750 000.00 | 1 678 217.89 | 0.86 |
| USD	DELTA AIR LINES INC-144A 7.00000% 20-01.05.25 | 2 000 000.00 | 2 037 975.72 | 1.05 |
| USD	EAST OHIO GAS CO/THE-144A 1.30000% 20-15.06.25 | 857 000.00 | 776 370.65 | 0.40 |
| USD	HONEYWELL INTERNATIONAL INC 5.00000% 22-15.02.33 | 850 000.00 | 874 842.81 | 0.45 |
| USD	LUNDIN ENERGY FINANCE BV-144A 2.00000% 21-15.07.26 | 1 750 000.00 | 1 540 710.41 | 0.79 |
| USD	NESTLE HOLDINGS INC-144A 1.50000% 21-14.09.28 | 2 070 000.00 | 1 759 185.48 | 0.90 |
| USD	NXP BV / NXP FUNDING LLC 5.55000% 22-01.12.28 | 2 070 000.00 | 2 060 296.87 | 1.06 |
| USD	ONCOR ELECTRIC DELIVERY CO LLC-144A 4.55000% 22-15.09.32 | 1 000 000.00 | 984 749.27 | 0.51 |
| USD	PARKER-HANNIFIN CORP 4.25000% 22-15.09.27 | 1 500 000.00 | 1 454 739.26 | 0.75 |
| USD	ROCHE HOLDINGS INC-144A 2.07600% 21-13.12.31 | 1 500 000.00 | 1 238 759.91 | 0.64 |
| USD	SCENTRE GROUP TRUST 1 / 2-144A 3.25000% 15-28.10.25 | 2 000 000.00 | 1 867 216.60 | 0.96 |
| USD	SOCIETE GENERALE SA-144A 4.00000% 17-12.01.27 | 1 400 000.00 | 1 290 909.49 | 0.66 |
| USD	TECK RESOURCES LTD 3.90000% 20-15.07.30 | 1 000 000.00 | 899 022.75 | 0.46 |
| USD	TRITON CONTAINER INTERNATIONAL LTD-144A 1.15000% 21-07.06.24 | 1 000 000.00 | 921 437.50 | 0.47 |
| USD	UNITED AIRLINES INC-144A 4.37500% 21-15.04.26 | 1 000 000.00 | 931 025.20 | 0.48 |
| USD	UNITEDHEALTH GROUP INC 5.25000% 22-15.02.28 | 1 000 000.00 | 1 028 648.21 | 0.53 |
| Total USD |  | 27 437 398.47 | 14.11 |
| Total Notes, fixed rate |  | 27 437 398.47 | 14.11 |
| UBS (Lux) Bond SICAV – USD Corporates (USD) |  |  |  |
| Semi-Annual Report as of 30 November 2022 |  |  |  |

| Description | Quantity/ | Valuation in USD | as a % |
| --- | --- | --- | --- |
|  | Nominal | Unrealized gain | of net |
|  |  | (loss) on Futures/ | assets |
|  |  | Forward |  |
|  |  | Exchange Contracts/ |  |
|  |  | Swaps (Note 1) |  |
| Notes, floating rate |  |  |  |
| USD |  |  |  |
| USD	BNP PARIBAS-144A 3.052%/VAR 20-13.01.31 | 1 400 000.00 | 1 160 820.76 | 0.59 |
| USD	ING GROEP NV 3.869%/VAR 22-28.03.26 | 1 250 000.00 | 1 200 778.88 | 0.62 |
| Total USD |  | 2 361 599.64 | 1.21 |
| Total Notes, floating rate |  | 2 361 599.64 | 1.21 |
| Medium term notes, fixed rate |  |  |  |
| USD |  |  |  |
| USD	NBN CO LTD-144A 0.87500% 21-08.10.24 | 2 500 000.00 | 2 297 584.00 | 1.18 |
| Total USD |  | 2 297 584.00 | 1.18 |
| Total Medium term notes, fixed rate |  | 2 297 584.00 | 1.18 |
| Medium term notes, floating rate |  |  |  |
| USD |  |  |  |
| USD	COMMONWEALTH BANK AUSRALIA-144A-SUB 3.610%/VAR 19-12.09.34 | 1 500 000.00 | 1 225 566.00 | 0.63 |
| USD	NATIONAL AUSTRALIA BANK LTD-144A-SUB 3.933%/VAR 19-02.08.34 | 1 250 000.00 | 1 049 484.27 | 0.54 |
| Total USD |  | 2 275 050.27 | 1.17 |
| Total Medium term notes, floating rate |  | 2 275 050.27 | 1.17 |
| Bonds, fixed rate |  |  |  |
| USD |  |  |  |
| USD	DUKE ENERGY FLORIDA LLC 5.95000% 22-15.11.52 | 750 000.00 | 825 139.25 | 0.42 |
| USD	NGPL PIPECO LLC-144A 4.87500% 17-15.08.27 | 1 240 000.00 | 1 179 925.66 | 0.61 |
| USD	SYDNEY AIRPORT FINANCE CO PTY LTD-144A 3.62500% 16-28.04.26 | 1 000 000.00 | 932 091.10 | 0.48 |
| Total USD |  | 2 937 156.01 | 1.51 |
| Total Bonds, fixed rate |  | 2 937 156.01 | 1.51 |
| Total Transferable securities and money market instruments traded on another regulated market |  | 37 308 788.39 | 19.18 |

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 | COMCAST CORP 2.88700% 22-01.11.51 | 3 250 000.00 | 2 168 045.19 | 1.12 |
| USD | GE CAPITAL FUNDING LLC 4.55000% 21-15.05.32 | 1 000 000.00 | 972 073.18 | 0.50 |
| Total USD |  |  | 3 140 118.37 | 1.62 |
| Total Notes, fixed rate |  | 3 140 118.37 | 1.62 |
| Total Transferable securities and money market instruments not listed on an official stock exchange and not traded on another regulated market |  | 3 140 118.37 | 1.62 |
| Recently issued transferable securities and money market instruments |  |  |  |
| Notes, fixed rate |  |  |  |
| USD |  |  |  |
| USD	BROADCOM INC-144A 4.92600% 22-15.05.37 | 1 250 000.00 | 1 096 865.94 | 0.56 |
| USD	ENEL FINANCE INTERNATIONAL NV-144A 6.80000% 22-14.10.25 | 1 250 000.00 | 1 294 400.86 | 0.67 |
| USD	MAGALLANES INC-144A 5.05000% 22-15.03.42 | 2 750 000.00 | 2 201 507.61 | 1.13 |
| Total USD |  | 4 592 774.41 | 2.36 |
| Total Notes, fixed rate | 4 592 774.41 | 2.36 |
| Total Recently issued transferable securities and money market instruments | 4 592 774.41 | 2.36 |
| UCITS/Other UCIs in accordance with Article 41 (1) e) of the amended Luxembourg law of 17 December 2010 |  |  |
| Investment funds, open end |  |  |
| Luxembourg |  |  |
| USD	UBS (LUX) BOND SICAV - MULTI INCOME (USD)-U-X-ACC- CAP	270.00 | 2 613 451.50 | 1.34 |
| USD	UBS(LUX)BOND SICAV-GLBL SDG CORPORATES SUSTNBLE(USD) U-X-ACC	90.00 | 913 855.50 | 0.47 |
| Total Luxembourg | 3 527 307.00 | 1.81 |
| Total Investment funds, open end | 3 527 307.00 | 1.81 |
| Total UCITS/Other UCIs in accordance with Article 41 (1) e) of the amended Luxembourg law of 17 December 2010 | 3 527 307.00 | 1.81 |
| Total investments in securities | 186 534 485.81 | 95.91 |

UBS (Lux) Bond SICAV – USD Corporates (USD) Semi-Annual Report as of 30 November 2022
| Description | Quantity/ Nominal | Valuation in USD Unrealized gain (loss) on Futures/ Forward Exchange Contracts/ Swaps (Note 1) | as a % of net assets |
| --- | --- | --- | --- |
| Derivative instruments |  |  |  |
| Derivative instruments listed on an official stock exchange |  |  |  |
| Financial Futures on bonds |  |  |  |
|  |  |  |  |
| USD	US ULTRA LONG BOND (CBT) FUTURE 22.03.23 | -3.00 | 945.31 | 0.00 |
| USD	US 10YR TREASURY NOTE FUTURE 22.03.23 | -50.00 | -39 250.00 | -0.02 |
| USD	US 2YR TREASURY NOTE FUTURE 31.03.23 | -15.00 | -9 593.75 | -0.01 |
| USD	US 5YR TREASURY NOTE FUTURE 31.03.23 | 50.00 | 31 054.71 | 0.02 |
| Total Financial Futures on bonds |  | -16 843.73 | -0.01 |
| Total Derivative instruments listed on an official stock exchange |  | -16 843.73 | -0.01 |
| Total Derivative instruments |  | -16 843.73 | -0.01 |
| Forward Foreign Exchange contracts |  |  |  |
| Currency purchased/Amount purchased/Currency sold/Amount sold/Maturity date |  |  |  |

| CHF | 10 646 400.00 | USD | 11 402 194.46 | 12.1.2023 | -164 676.68 | -0.09 |
| --- | --- | --- | --- | --- | --- | --- |
| EUR | 6 160 700.00 | USD | 6 450 456.20 | 12.1.2023 | -84 225.68 | -0.04 |
| EUR | 75 500.00 | USD | 78 454.53 | 12.1.2023 | -435.73 | 0.00 |
| CHF | 130 200.00 | USD | 137 537.65 | 12.1.2023 | -108.58 | 0.00 |
| EUR | 80 400.00 | USD | 83 713.28 | 12.1.2023 | -631.01 | 0.00 |
| CHF | 138 100.00 | USD | 146 390.01 | 12.1.2023 | -622.31 | 0.00 |
| Total Forward Foreign Exchange contracts | -250 699.99 | -0.13 |
|  |  |  |
| Cash at banks, deposits on demand and deposit accounts and other liquid assets | 2 412 925.78 | 1.24 |
| Other assets and liabilities | 5 804 036.88 | 2.99 |
| Total net assets | 194 483 904.75 | 100.00 |

UBS (Lux) Bond SICAV – USD Corporates (USD) Semi-Annual Report as of 30 November 2022

Translation (ENFR, 2022-11-30):
# UBS (Lux) Bond SICAV – USD Corporates (USD)
| Données principales |  |
| --- | --- |
|  | ISIN | 30.11.2022 | 31.5.2022 | 31.5.2021 |
| Actif net en USD |  | 194 483 904.75 | 216 964 860.07 | 471 435 415.69 |
| Catégorie F-acc | LU0396366626 |  |  |  |
| Actions en circulation |  | 474 663.8470 | 473 963.8470 | 1 192 139.8470 |
| Valeur nette d’inventaire par action en USD |  | 19.57 | 20.46 | 22.72 |
| Prix d’émission et de rachat par action en USD 1 |  | 19.57 | 20.46 | 22.72 |
| Catégorie I-A1-acc | LU0396367277 |  |  |  |
| Actions en circulation |  | 106 575.0660 | 112 364.2010 | 138 597.8710 |
| Valeur nette d’inventaire par action en USD |  | 141.07 | 147.55 | 164.11 |
| Prix d’émission et de rachat par action en USD 1 |  | 141.07 | 147.55 | 164.11 |
| Catégorie I-A3-acc | LU0396367608 |  |  |  |
| Actions en circulation |  | 7 687.4140 | 6 949.4140 | 6 927.4140 |
| Valeur nette d’inventaire par action en USD |  | 115.72 | 120.95 | 134.33 |
| Prix d’émission et de rachat par action en USD 1 |  | 115.72 | 120.95 | 134.33 |
| Catégorie I-B-dist 2 | LU2249863197 |  |  |  |
| Actions en circulation |  | - | - | 80 000.0000 |
| Valeur nette d’inventaire par action en USD |  | - | - | 97.83 |
| Prix d’émission et de rachat par action en USD 1 |  | - | - | 97.83 |
| Catégorie I-X-acc | LU0396368085 |  |  |  |
| Actions en circulation |  | 25 742.2450 | 48 507.5150 | 58 184.0660 |
| Valeur nette d’inventaire par action en USD |  | 149.63 | 156.11 | 172.76 |
| Prix d’émission et de rachat par action en USD 1 |  | 149.63 | 156.11 | 172.76 |
| Catégorie P-acc | LU0172069584 |  |  |  |
| Actions en circulation |  | 3 426 404.2990 | 3 518 417.3880 | 5 005 569.8310 |
| Valeur nette d’inventaire par action en USD |  | 18.12 | 19.02 | 21.29 |
| Prix d’émission et de rachat par action en USD 1 |  | 18.12 | 19.02 | 21.29 |
| Catégorie (CHF hedged) P-acc | LU0776291220 |  |  |  |
| Actions en circulation |  | 37 620.2090 | 38 473.5400 | 47 186.8550 |
| Valeur nette d’inventaire par action en CHF |  | 98.26 | 104.90 | 119.04 |
| Prix d’émission et de rachat par action en CHF 1 |  | 98.26 | 104.90 | 119.04 |
| Catégorie P-mdist | LU0849272793 |  |  |  |
| Actions en circulation |  | 21 121.4950 | 19 849.6770 | 79 730.9070 |
| Valeur nette d’inventaire par action en USD |  | 78.08 | 83.65 | 97.55 |
| Prix d’émission et de rachat par action en USD 1 |  | 78.08 | 83.65 | 97.55 |
| Catégorie Q-acc | LU0396366972 |  |  |  |
| Actions en circulation |  | 510 165.0860 | 547 287.6780 | 731 658.7800 |
| Valeur nette d’inventaire par action en USD |  | 163.39 | 171.01 | 190.46 |
| Prix d’émission et de rachat par action en USD 1 |  | 163.39 | 171.01 | 190.46 |
| Catégorie (CHF hedged) Q-acc | LU1240777026 |  |  |  |
| Actions en circulation |  | 77 996.3460 | 79 463.8420 | 106 878.8290 |
| Valeur nette d’inventaire par action en CHF |  | 96.22 | 102.44 | 115.62 |
| Prix d’émission et de rachat par action en CHF 1 |  | 96.22 | 102.44 | 115.62 |
| Catégorie (EUR hedged) Q-acc | LU0848113352 |  |  |  |
| Actions en circulation |  | 62 443.9860 | 63 781.4630 | 136 633.0200 |
| Valeur nette d’inventaire par action en EUR |  | 102.18 | 108.53 | 121.91 |
| Prix d’émission et de rachat par action en EUR 1 |  | 102.18 | 108.53 | 121.91 |
| Catégorie U-X-acc 3 | LU0396368242 |  |  |  |
| Actions en circulation | -	- | 8 426.0000 |
| Valeur nette d’inventaire par action en USD | -	- | 12 902.82 |
| Prix d’émission et de rachat par action en USD 1 | -	- | 12 902.82 |
| 1  Voir note 1 2  La catégorie d’actions I-B-dist était en circulation pour la période allant du 19.1.2021 au 17.8.2021 3  La catégorie d’actions U-X-acc était en circulation jusqu’au 9.11.2021 |  |  |

UBS (Lux) Bond SICAV – USD Corporates (USD) Rapport semestriel au 30 novembre 2022

## Structure du portefeuille-titres
Répartition géographique en % de l’actif net	
Etats-Unis	65.20
Grande-Bretagne	7.20
Australie	4.73
Canada	4.31
Pays-Bas	2.56
France	2.45
Luxembourg	2.33
Japon	2.18
Norvège	1.69
Irlande	1.51
Multinationaux	1.06
Bermudes	0.47
Espagne	0.22
Total	95.91
Répartition économique en % de l’actif net	
Banques & instituts de crédit	22.13
Etablissements financiers et sociétés de participation	16.26
Distribution d’énergie & d’eau	9.48
Télécommunications	5.27
Commerce de détail, centres commerciaux	3.86
Produits pharmaceutiques, cosmétiques & médicaux	3.62
Trafic et transport	3.07
Soins de santé & services sociaux	2.99
Pétrole	2.69
Internet, logiciels et services informatiques	2.68
Equipement informatique et de réseau	2.34
Alimentation & softs	1.98
Electronique et semi-conducteurs	1.95
Fonds de placement	1.81
Tabac et boissons alcoolisées	1.73
Immobilier	1.71
Assurances	1.68
Biotechnologie	1.57
Appareils et composants électriques	1.30
Machines et appareils	1.21
Industrie graphique, édition et médias	1.11
Industrie minière, charbon et acier	0.98
Véhicules	0.86
Chimie	0.78
Métaux non ferreux	0.52
Diverses sociétés commerciales	0.51
Emetteurs d’obligations sécurisées (Pfandbriefe) et
sociétés de refinancement	0.50
Services divers	0.49
Industrie aéronautique et spatiale	0.45
Bâtiment et matériaux de construction	0.38
Total	95.91
UBS (Lux) Bond SICAV – USD Corporates (USD) Rapport semestriel au 30 novembre 2022

## Etat des actifs nets
Actif	30.11.2022
USD
Portefeuille-titres, cours d’achat	211 187 007.64
| Portefeuille-titres, plus- (moins-) value non-réalisée | 	-24 652 521.83	 |
| --- | --- |
| Total portefeuille-titres (note 1) | 186 534 485.81 |
| Avoirs en banque, dépôts à vue et à terme | 2 310 450.16 |
| Autres liquidités (marges) | 102 475.62 |
| A recevoir sur ventes de titres (note 1) | 6 011 390.83 |
| A recevoir sur souscriptions | 36 323.97 |
| Intérêts à recevoir sur titres | 1 866 282.84 |
| Frais payés d’avance | 25 278.89 |
| Total Actif | 196 886 688.12 |
|  |  |
| Passif |  |
| Perte non réalisée sur contrats financiers à terme (note 1) | -16 843.73 |
| Perte non réalisée sur contrats de change à terme (note 1) | -250 699.99 |
| A payer sur achats de titres (note 1) | -1 986 370.00 |
| A payer sur rachats | -925.54 |
| Provisions pour commission de gestion forfaitaire (note 2) | -119 640.02 |
| Provisions pour taxe d’abonnement (note 3) | -14 557.27 |
| Provisions pour autres commissions et frais (note 2) | 	-13 746.82	 |
| Total des Provisions pour frais | -147 944.11 |
| Total Passif | -2 402 783.37 |
|  |  |
| Actifs nets à la fin de la période | 194 483 904.75 |
| Etat des opérations | USD |
| Revenus | 1.6.2022-30.11.2022 |
| Revenus d’intérêts sur liquidités | 36 825.37 |
| Intérêts sur titres | 3 947 801.88 |
| Revenus nets sur prêts de titres (note 11) | 3 906.23 |
| Autres revenus (note 4) | 10 426.18 |
| Total des Revenus | 3 998 959.66 |
|  |  |
| Charges |  |
| Commission de gestion forfaitaire (note 2) | -765 675.47 |
| Taxe d’abonnement (note 3) | -41 664.55 |
| Autres commissions et frais (note 2) | -13 311.28 |
| Charges d’intérêts sur liquidités et crédit en compte courant | -1 299.90 |
| Total des Charges | -821 951.20 |
|  |  |
| Revenus (Pertes) net(te)s des investissements | 3 177 008.46 |
|  |  |
| Bénéfices (pertes) réalisé(e)s (note 1) |  |
| Bénéfice (perte) réalisé(e) sur titres évalués à la valeur de marché hors options | -7 014 357.20 |
| Bénéfice (perte) réalisé(e) sur contrats financiers à terme | -507 108.29 |
| Bénéfice (perte) réalisé(e) sur contrats de change à terme | -354 796.37 |
| Bénéfice (perte) réalisé(e) de change réalisé(e) | 508 277.46 |
| Total des Bénéfices (pertes) réalisé(e)s | -7 367 984.40 |
|  |  |
| Bénéfice (perte) net(te) réalisé(e) au cours de la période | -4 190 975.94 |
|  |  |
| Variations des plus- (moins-) values non-réalisées (note 1) |  |
| Plus- (Moins-) value non réalisée sur titres évalués à la valeur de marché hors options | -5 504 438.70 |
| Plus- (Moins-) value non réalisée sur contrats financiers à terme | 87 125.01 |
| Plus- (Moins-) value non réalisée sur contrats de change à terme | -707 488.75 |
| Total des Variations des plus- (moins-) values non-réalisées | -6 124 802.44 |
|  |  |
| Augmentation/(diminution) nette de l’actif net issue de l’activité | -10 315 778.38 |

UBS (Lux) Bond SICAV – USD Corporates (USD) Rapport semestriel au 30 novembre 2022
| Variations de l’actif net |  |
| --- | --- |
|  |  | USD |
|  |  | 1.6.2022-30.11.2022 |
| Actif net au début de la période |  | 216 964 860.07 |
| Souscriptions |  | 8 290 693.45 |
| Rachats |  | 	-20 422 423.79	 |
| Souscriptions (Rachats) net(te)s |  | -12 131 730.34 |
| Dividendes versés |  | -33 446.60 |
| Revenus (Pertes) net(te)s des investissements |  | 3 177 008.46 |
| Total des Bénéfices (pertes) réalisé(e)s |  | -7 367 984.40 |
| Total des Variations des plus- (moins-) values non-réalisées |  | 	-6 124 802.44	 |
| Augmentation/(diminution) nette de l’actif net issue de l’activité |  | -10 315 778.38 |
| Actifs nets à la fin de la période |  | 194 483 904.75 |
| Evolution des actions en circulation |  |  |
|  |  | 1.6.2022-30.11.2022 |
| Catégorie |  | F-acc |
| Nombre d’actions en circulation au début de la période |  | 473 963.8470 |
| Nombre d’actions émises |  | 700.0000 |
| Nombre d’actions rachetées |  | 0.0000 |
| Nombre d’actions en circulation à la fin de la période |  | 474 663.8470 |
| Catégorie |  | I-A1-acc |
| Nombre d’actions en circulation au début de la période |  | 112 364.2010 |
| Nombre d’actions émises |  | 8 991.8320 |
| Nombre d’actions rachetées |  | -14 780.9670 |
| Nombre d’actions en circulation à la fin de la période |  | 106 575.0660 |
| Catégorie |  | I-A3-acc |
| Nombre d’actions en circulation au début de la période |  | 6 949.4140 |
| Nombre d’actions émises |  | 3 494.0000 |
| Nombre d’actions rachetées |  | -2 756.0000 |
| Nombre d’actions en circulation à la fin de la période |  | 7 687.4140 |
| Catégorie |  | I-X-acc |
| Nombre d’actions en circulation au début de la période |  | 48 507.5150 |
| Nombre d’actions émises |  | 0.0000 |
| Nombre d’actions rachetées |  | -22 765.2700 |
| Nombre d’actions en circulation à la fin de la période |  | 25 742.2450 |
| Catégorie |  | P-acc |
| Nombre d’actions en circulation au début de la période |  | 3 518 417.3880 |
| Nombre d’actions émises |  | 215 063.9960 |
| Nombre d’actions rachetées |  | -307 077.0850 |
| Nombre d’actions en circulation à la fin de la période |  | 3 426 404.2990 |
| Catégorie |  | (CHF hedged) P-acc |
| Nombre d’actions en circulation au début de la période |  | 38 473.5400 |
| Nombre d’actions émises |  | 539.3710 |
| Nombre d’actions rachetées |  | -1 392.7020 |
| Nombre d’actions en circulation à la fin de la période |  | 37 620.2090 |
| Catégorie |  | P-mdist |
| Nombre d’actions en circulation au début de la période |  | 19 849.6770 |
| Nombre d’actions émises |  | 1 391.3630 |
| Nombre d’actions rachetées |  | -119.5450 |
| Nombre d’actions en circulation à la fin de la période |  | 21 121.4950 |
| Catégorie |  | Q-acc |
| Nombre d’actions en circulation au début de la période |  | 547 287.6780 |
| Nombre d’actions émises |  | 11 656.8230 |
| Nombre d’actions rachetées |  | -48 779.4150 |
| Nombre d’actions en circulation à la fin de la période |  | 510 165.0860 |
| Catégorie |  | (CHF hedged) Q-acc |
| Nombre d’actions en circulation au début de la période |  | 79 463.8420 |
| Nombre d’actions émises |  | 2 998.2950 |
| Nombre d’actions rachetées |  | -4 465.7910 |
| Nombre d’actions en circulation à la fin de la période |  | 77 996.3460 |
| Catégorie |  | (EUR hedged) Q-acc |
| Nombre d’actions en circulation au début de la période |  | 63 781.4630 |
| Nombre d’actions émises |  | 2 525.1890 |
| Nombre d’actions rachetées |  | -3 862.6660 |
| Nombre d’actions en circulation à la fin de la période |  | 62 443.9860 |
| Distribution mensuelle 1 |  |  |
| UBS (Lux) Bond SICAV – USD Corporates (USD)	Date de détachement | Date de versement | Devise	Montant par action |
| P-mdist	15.6.2022 | 21.6.2022 | USD	0.28 |
| P-mdist	15.7.2022 | 20.7.2022 | USD	0.27 |
| P-mdist	16.8.2022 | 19.8.2022 | USD	0.28 |
| P-mdist	15.9.2022 | 20.9.2022 | USD	0.27 |
| P-mdist	17.10.2022 | 20.10.2022 | USD	0.25 |
| P-mdist	15.11.2022 | 18.11.2022 | USD	0.28 |
| 1  Voir note 5 |  |  |

UBS (Lux) Bond SICAV – USD Corporates (USD) Rapport semestriel au 30 novembre 2022

## Etat du portefeuille-titres et autres actifs nets au 30 novembre 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 |  |  |  |
| Billets, taux fixe |  |  |  |
| USD |  |  |  |
| USD	ABBVIE INC 3.20000% 20-21.11.29 | 2 000 000.00 | 1 825 956.28 | 0.94 |
| USD	ABBVIE INC 3.80000% 20-15.03.25 | 1 250 000.00 | 1 222 921.15 | 0.63 |
| USD	AERCAP IRELAND CAP/ GLBL AVIATION TRUST 6.50000% 20-15.07.25 | 2 000 000.00 | 2 020 520.14 | 1.04 |
| USD	AERCAP IRELAND CAPITAL DAC / AERCAP 1.65000% 21-29.10.24 | 1 000 000.00 | 920 165.71 | 0.47 |
| USD	AIR LEASE CORP 5.85000% 22-15.12.27 | 1 000 000.00 | 993 219.19 | 0.51 |
| USD	ALEXANDRIA REAL ESTATE EQUITY INC 1.87500% 20-01.02.33 | 1 500 000.00 | 1 115 475.81 | 0.57 |
| USD	AMAZON.COM INC 2.50000% 20-03.06.50 | 1 540 000.00 | 1 005 903.05 | 0.52 |
| USD	AMERICAN EXPRESS CO 3.95000% 22-01.08.25 | 1 000 000.00 | 979 262.91 | 0.50 |
| USD	AMGEN INC 3.15000% 20-21.02.40 | 830 000.00 | 638 149.99 | 0.33 |
| USD	ANHEUSER-BUSCH COS 4.70000% 19-01.02.36 | 3 500 000.00 | 3 358 231.38 | 1.73 |
| USD	APPLE INC 1.65000% 20-11.05.30 | 1 660 000.00 | 1 381 581.13 | 0.71 |
| USD	APPLE INC 3.45000% 15-09.02.45 | 2 500 000.00 | 2 065 787.18 | 1.06 |
| USD	ARCELORMITTAL SA 6.55000% 22-29.11.27 | 1 000 000.00 | 1 008 620.37 | 0.52 |
| USD	AT&T INC 3.65000% 20-01.06.51 | 1 000 000.00 | 732 377.90 | 0.38 |
| USD	AT&T INC 4.35000% 13-15.06.45 | 1 500 000.00 | 1 240 633.88 | 0.64 |
| USD	AT&T INC 4.85000% 19-01.03.39 | 1 000 000.00 | 916 309.79 | 0.47 |
| USD	BANK OF NOVA SCOTIA/THE 3.45000% 22-11.04.25 | 1 000 000.00 | 967 582.08 | 0.50 |
| USD	BARCLAYS PLC-SUB 4.37500% 14-11.09.24 | 1 870 000.00 | 1 821 290.50 | 0.94 |
| USD	BP CAPITAL MARKETS AMERICA INC 3.00000% 20-24.02.50 | 1 000 000.00 | 689 093.30 | 0.35 |
| USD	CANADIAN IMPERIAL BANK OF COMMERCE 3.30000% 22-07.04.25 | 1 500 000.00 | 1 445 344.15 | 0.74 |
| USD	CANADIAN PACIFIC RAILWAY 3.10000% 21-02.12.51 | 1 000 000.00 | 703 059.81 | 0.36 |
| USD	CCO LLC/CAPITAL 6.38400% 16-23.10.35 | 1 120 000.00 | 1 102 012.18 | 0.57 |
| USD	CIGNA CORP 2.40000% 20-15.03.30 | 2 000 000.00 | 1 698 670.94 | 0.87 |
| USD	CITIGROUP INC 3.70000% 16-12.01.26 | 3 190 000.00 | 3 062 081.99 | 1.57 |
| USD	CREDIT AGRICOLE SA-144A-SUB 4.37500% 15-17.03.25 | 1 660 000.00 | 1 592 205.60 | 0.82 |
| USD	CREDIT SUISSE AG/NEW YORK NY 3.70000% 22-21.02.25 | 1 000 000.00 | 910 421.17 | 0.47 |
| USD	CVS HEALTH CORP 5.05000% 18-25.03.48 | 1 500 000.00 | 1 392 983.63 | 0.72 |
| USD	DEERE & CO 3.90000% 12-09.06.42 | 1 000 000.00 | 899 424.67 | 0.46 |
| USD	ENBRIDGE INC 2.50000% 21-01.08.33 | 1 500 000.00 | 1 178 196.17 | 0.61 |
| USD	EQT CORP 3.90000% 17-01.10.27 | 1 000 000.00 | 925 711.66 | 0.48 |
| USD	EQUINOR ASA 2.87500% 20-06.04.25 | 2 490 000.00 | 2 394 738.05 | 1.23 |
| USD	ESTEE LAUDER COS INC 4.37500% 15-15.06.45 | 830 000.00 | 741 809.93 | 0.38 |
| USD	EVERSOURCE ENERGY 3.37500% 22-01.03.32 | 1 000 000.00 | 876 078.89 | 0.45 |
| USD	EXELON CORP 4.95000% 16-15.06.35 | 1 450 000.00 | 1 404 181.29 | 0.72 |
| USD	FORD MOTOR CREDIT CO 3.37500% 20-13.11.25 | 1 000 000.00 | 922 630.00 | 0.47 |
| USD	GENERAL MOTORS FINANCIAL CO INC 3.10000% 22-12.01.32 | 1 000 000.00 | 802 221.17 | 0.41 |
| USD	GEORGIA POWER CO 3.70000% 20-30.01.50 | 1 660 000.00 | 1 263 940.39 | 0.65 |
| USD	GILEAD SCIENCES INC 2.60000% 20-01.10.40 | 1 660 000.00 | 1 186 426.34 | 0.61 |
| USD	GOLDMAN SACHS GROUP INC 3.80000% 20-15.03.30 | 1 000 000.00 | 908 907.62 | 0.47 |
| USD	HCA INC 5.00000% 14-15.03.24 | 1 870 000.00 | 1 862 475.34 | 0.96 |
| USD	HCA INC 5.25000% 19-15.06.49 | 1 250 000.00 | 1 093 157.77 | 0.56 |
| USD	HOME DEPOT INC/THE 4.20000% 13-01.04.43 | 2 590 000.00 | 2 319 357.31 | 1.19 |
| USD	INTERCONTINENTAL EXCHANGE INC 3.00000% 20-15.06.50 | 1 825 000.00 | 1 269 325.64 | 0.65 |
| USD	KINROSS GOLD CORP 5.95000% 14-15.03.24 | 1 000 000.00 | 1 003 618.49 | 0.52 |
| USD	KRAFT HEINZ FOODS CO 4.37500% 16-01.06.46 | 1 000 000.00 | 842 862.08 | 0.43 |
| USD	KROGER CO 3.87500% 16-15.10.46 | 1 000 000.00 | 773 165.69 | 0.40 |
| USD	LLOYDS BANKING GROUP PLC 4.45000% 18-08.05.25 | 2 000 000.00 | 1 955 479.14 | 1.01 |
| USD	LOWE’S COS INC 2.80000% 21-15.09.41 | 2 250 000.00 | 1 589 113.91 | 0.82 |
| USD	LSEGA FINANCING PLC-144A 3.20000% 21-06.04.41 | 2 000 000.00 | 1 481 474.80 | 0.76 |
| USD	MERCK & CO INC 3.70000% 15-10.02.45 | 1 150 000.00 | 963 162.52 | 0.50 |
| USD	MICROSOFT CORP 2.52500% 20-01.06.50 | 2 000 000.00 | 1 377 376.70 | 0.71 |
| USD	MITSUBISHI UFJ FINANCIAL GRP INC 2.19300% 20-25.02.25 | 2 490 000.00 | 2 325 915.22 | 1.20 |
| USD	NATWEST GROUP PLC 4.80000% 16-05.04.26 | 1 660 000.00 | 1 617 853.40 | 0.83 |
| USD	NEXTERA ENERGY CAP 2.44000% 21-15.01.32 | 1 500 000.00 | 1 221 757.19 | 0.63 |
| USD	NORFOLK SOUTHERN CORP 4.10000% 19-15.05.49 | 1 660 000.00 | 1 368 087.44 | 0.70 |
| USD	NOVARTIS CAPITAL CORP 2.20000% 20-14.08.30 | 1 500 000.00 | 1 287 145.80 | 0.66 |
| USD	NUTRIEN LTD 5.90000% 22-07.11.24 | 1 500 000.00 | 1 517 324.55 | 0.78 |
| USD	NVIDIA CORP 2.85000% 20-01.04.30 | 830 000.00 | 732 170.88 | 0.38 |
| USD	ONEOK INC 6.10000% 22-15.11.32 | 1 000 000.00 | 1 018 205.09 | 0.52 |
| USD	ORACLE CORP 4.37500% 15-15.05.55 | 3 000 000.00 | 2 280 957.12 | 1.17 |
| USD	ORACLE CORP 6.90000% 22-09.11.52 | 850 000.00 | 941 438.07 | 0.48 |
| USD	PAYPAL HOLDINGS INC 2.30000% 20-01.06.30 | 1 660 000.00 | 1 373 492.20 | 0.71 |
| USD	PEPSICO INC 2.62500% 21-21.10.41 | 1 660 000.00 | 1 256 881.56 | 0.65 |
| USD	PRUDENTIAL FINANCIAL INC 3.93500% 18-07.12.49 | 1 986 000.00 | 1 560 313.46 | 0.80 |
| USD	PUBLIC STORAGE 3.09400% 17-15.09.27 | 1 500 000.00 | 1 403 903.03 | 0.72 |
| USD	QUALCOMM INC 4.30000% 17-20.05.47 | 250 000.00 | 219 347.84 | 0.11 |
| USD	QUALCOMM INC 6.00000% 22-20.05.53 | 850 000.00 | 925 035.88 | 0.48 |
| USD	QUANTA SERVICES INC 3.05000% 21-01.10.41 | 1 500 000.00 | 1 008 683.95 | 0.52 |
| USD	RABOBANK NEDERLAND NV-SUB 3.75000% 16-21.07.26 | 1 000 000.00 | 938 702.17 | 0.48 |
| USD	SABINE PASS LIQUEFACTION LLC 5.00000% 17-15.03.27 | 1 450 000.00 | 1 431 278.23 | 0.74 |
| USD	SALESFORCE.COM INC 2.70000% 21-15.07.41 | 830 000.00 | 612 673.50 | 0.31 |
| USD	SHERWIN-WILLIAMS CO 4.50000% 17-01.06.47 | 850 000.00 | 736 300.56 | 0.38 |
| USD	SUMITOMO MITSUI FIN GP INC 2.69600% 19-16.07.24 | 2 000 000.00 | 1 913 635.80 | 0.98 |
| USD	T-MOBILE USA INC 3.60000% 21-15.11.60 | 1 900 000.00 | 1 316 918.50 | 0.68 |
| USD	TARGET CORP 1.95000% 22-15.01.27 | 2 000 000.00 | 1 828 300.74 | 0.94 |
| USD	TELEFONICA EMISIONES SA 5.52000% 19-01.03.49 | 500 000.00 | 427 611.19 | 0.22 |
| USD	TOTAL CAPITAL INTERNATIONAL SA 3.12700% 20-29.05.50 | 1 000 000.00 | 722 427.06 | 0.37 |
| USD	UNITEDHEALTH GROUP INC 3.95000% 12-15.10.42 | 956 000.00 | 812 490.82 | 0.42 |
| USD	VERIZON COMMUNICATIONS INC 2.10000% 21-22.03.28 | 1 500 000.00 | 1 312 390.92 | 0.67 |
| USD	VICI PROPERTIES LP 5.62500% 22-15.05.52 | 900 000.00 | 812 511.00 | 0.42 |
| USD	VODAFONE GROUP PLC 4.87500% 19-19.06.49 | 1 000 000.00 | 852 656.96 | 0.44 |
| USD	WALT DISNEY CO 2.75000% 19-01.09.49 | 1 800 000.00 | 1 215 400.29 | 0.62 |
| Total USD |  | 103 836 507.20 | 53.39 |
| Total des Billets, taux fixe |  | 103 836 507.20 | 53.39 |

UBS (Lux) Bond SICAV – USD Corporates (USD) Rapport semestriel au 30 novembre 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) |  |
| Billets, taux variable |  |  |  |
| USD |  |  |  |
| USD	BANK OF AMERICA CORP 4.271%/VAR 18-23.07.29 | 1 500 000.00 | 1 412 011.65 | 0.73 |
| USD	BARCLAYS PLC 2.894%/VAR 21-24.11.32 | 1 000 000.00 | 763 788.46 | 0.39 |
| USD	CITIGROUP INC 2.572%/VAR 20-03.06.31 | 1 000 000.00 | 819 545.20 | 0.42 |
| USD	CITIGROUP INC 3.352%/VAR 19-24.04.25 | 1 000 000.00 | 967 024.93 | 0.50 |
| USD	GOLDMAN SACHS GROUP INC 3.272%/VAR 17-29.09.25 | 2 000 000.00 | 1 925 439.96 | 0.99 |
| USD	GOLDMAN SACHS GROUP INC/THE 1.992%/VAR 21-27.01.32 | 1 000 000.00 | 772 049.00 | 0.40 |
| USD	HSBC HOLDINGS PLC 2.633%/VAR 19-07.11.25 | 1 000 000.00 | 929 720.44 | 0.48 |
| USD	HSBC HOLDINGS PLC 2.099%/VAR 20-04.06.26 | 2 070 000.00 | 1 876 573.07 | 0.96 |
| USD	JPMORGAN CHASE & CO 2.545%/VAR 21-08.11.32 | 3 000 000.00 | 2 401 039.77 | 1.23 |
| USD	JPMORGAN CHASE & CO 4.912%/VAR 22-25.07.33 | 1 000 000.00 | 964 314.65 | 0.50 |
| USD	WESTPAC BANKING CORP-SUB 2.668%/VAR 20-15.11.35 | 1 000 000.00 | 734 005.10 | 0.38 |
| Total USD |  | 13 565 512.23 | 6.98 |
| Total des Billets, taux variable |  | 13 565 512.23 | 6.98 |
| Medium-Term Notes, taux fixe |  |  |  |
| USD |  |  |  |
| USD	ROYAL BANK OF CANADA 2.30000% 21-03.11.31 | 830 000.00 | 668 830.48 | 0.34 |
| Total USD |  | 668 830.48 | 0.34 |
| Total des Medium-Term Notes, taux fixe |  | 668 830.48 | 0.34 |
| Medium-Term Notes, taux variable |  |  |  |
| USD |  |  |  |
| USD	BANK OF AMERICA CORP 3.559%/VAR 19-23.04.27 | 2 000 000.00 | 1 886 486.52 | 0.97 |
| USD	BANK OF AMERICA CORP 2.496%/3M LIBOR+99BP 20-13.02.31 | 4 500 000.00 | 3 702 160.35 | 1.90 |
| USD	MORGAN STANLEY 3.622%/VAR 20-01.04.31 | 3 000 000.00 | 2 673 473.91 | 1.38 |
| USD	MORGAN STANLEY 3.772%/VAR 18-24.01.29 | 1 240 000.00 | 1 141 844.54 | 0.59 |
| Total USD |  | 9 403 965.32 | 4.84 |
| Total des Medium-Term Notes, taux variable |  | 9 403 965.32 | 4.84 |
| Obligations, taux fixe |  |  |  |
| USD |  |  |  |
| USD	BALTIMORE GAS & ELECTRIC CO 3.50000% 16-15.08.46 | 1 040 000.00 | 784 938.40 | 0.40 |
| USD	CONSOLIDATED EDISON CO OF NEW YORK INC 4.65000% 18-01.12.48 | 1 240 000.00 | 1 089 131.06 | 0.56 |
| USD	DUKE ENERGY CAROLINAS LLC 6.05000% 08-15.04.38 | 765 000.00 | 811 071.13 | 0.42 |
| USD	DUKE ENERGY OHIO INC 4.30000% 19-01.02.49 | 1 660 000.00 | 1 373 942.34 | 0.71 |
| USD	EL PASO NATURAL GAS CO 8.37500% 03-15.06.32 | 1 050 000.00 | 1 207 168.10 | 0.62 |
| USD	SAN DIEGO GAS & ELECTRIC CO 4.10000% 19-15.06.49 | 830 000.00 | 685 332.76 | 0.35 |
| USD	SOUTHERN CALIFORNIA EDISON CO 3.65000% 20-01.02.50 | 2 000 000.00 | 1 492 329.02 | 0.77 |
| USD	SOUTHERN CALIFORNIA GAS CO 2.55000% 20-01.02.30 | 1 500 000.00 | 1 287 269.61 | 0.66 |
| Total USD |  | 8 731 182.42 | 4.49 |
| Total des Obligations, taux fixe |  | 8 731 182.42 | 4.49 |
| Obligations, taux variable |  |  |  |
| USD |  |  |  |
| USD	BP CAPITAL MARKETS PLC-SUB 4.875%/VAR 20-PRP | 2 000 000.00 | 1 759 499.99 | 0.90 |
| Total USD |  | 1 759 499.99 | 0.90 |
| Total des Obligations, taux variable |  | 1 759 499.99 | 0.90 |
| Total des Titres et instruments du marché monétaire négociés sur une bourse officielle |  | 137 965 497.64 | 70.94 |
| Titres et instruments du marché monétaire négociés sur un autre marché réglementé |  |  |  |
| Billets, taux fixe |  |  |  |
| USD |  |  |  |
| USD	AKER BP ASA-144A 3.75000% 20-15.01.30 | 1 000 000.00 | 886 235.89 | 0.46 |
| USD	ALCON FINANCE CORP-144A 5.75000% 22-06.12.52 | 1 000 000.00 | 1 011 617.64 | 0.52 |
| USD	ANTHEM INC 5.35000% 22-15.10.25 | 1 000 000.00 | 1 014 028.94 | 0.52 |
| USD	AUSTRALIA & NEW ZEALAND BANK-144A-SUB 2.57000% 20-25.11.35 | 1 500 000.00 | 1 094 034.94 | 0.56 |
| USD	BAXTER INTERNATIONAL INC 1.91500% 22-01.02.27 | 1 000 000.00 | 891 138.91 | 0.46 |
| USD	CHENIERE CORPUS CHRISTI HLDGS LLC 5.12500% 17-30.06.27 | 250 000.00 | 250 338.33 | 0.13 |
| USD	CSL FINANCE PLC-144A 4.25000% 22-27.04.32 | 1 000 000.00 | 945 895.80 | 0.49 |
| USD	DAIMLER FINANCE NORTH AMERICA LLC-144A 3.30000% 15-19.05.25 | 1 750 000.00 | 1 678 217.89 | 0.86 |
| USD	DELTA AIR LINES INC-144A 7.00000% 20-01.05.25 | 2 000 000.00 | 2 037 975.72 | 1.05 |
| USD	EAST OHIO GAS CO/THE-144A 1.30000% 20-15.06.25 | 857 000.00 | 776 370.65 | 0.40 |
| USD	HONEYWELL INTERNATIONAL INC 5.00000% 22-15.02.33 | 850 000.00 | 874 842.81 | 0.45 |
| USD	LUNDIN ENERGY FINANCE BV-144A 2.00000% 21-15.07.26 | 1 750 000.00 | 1 540 710.41 | 0.79 |
| USD	NESTLE HOLDINGS INC-144A 1.50000% 21-14.09.28 | 2 070 000.00 | 1 759 185.48 | 0.90 |
| USD	NXP BV / NXP FUNDING LLC 5.55000% 22-01.12.28 | 2 070 000.00 | 2 060 296.87 | 1.06 |
| USD	ONCOR ELECTRIC DELIVERY CO LLC-144A 4.55000% 22-15.09.32 | 1 000 000.00 | 984 749.27 | 0.51 |
| USD	PARKER-HANNIFIN CORP 4.25000% 22-15.09.27 | 1 500 000.00 | 1 454 739.26 | 0.75 |
| USD	ROCHE HOLDINGS INC-144A 2.07600% 21-13.12.31 | 1 500 000.00 | 1 238 759.91 | 0.64 |
| USD	SCENTRE GROUP TRUST 1 / 2-144A 3.25000% 15-28.10.25 | 2 000 000.00 | 1 867 216.60 | 0.96 |
| USD	SOCIETE GENERALE SA-144A 4.00000% 17-12.01.27 | 1 400 000.00 | 1 290 909.49 | 0.66 |
| USD	TECK RESOURCES LTD 3.90000% 20-15.07.30 | 1 000 000.00 | 899 022.75 | 0.46 |
| USD	TRITON CONTAINER INTERNATIONAL LTD-144A 1.15000% 21-07.06.24 | 1 000 000.00 | 921 437.50 | 0.47 |
| USD	UNITED AIRLINES INC-144A 4.37500% 21-15.04.26 | 1 000 000.00 | 931 025.20 | 0.48 |
| USD	UNITEDHEALTH GROUP INC 5.25000% 22-15.02.28 | 1 000 000.00 | 1 028 648.21 | 0.53 |
| Total USD |  | 27 437 398.47 | 14.11 |
| Total des Billets, taux fixe |  | 27 437 398.47 | 14.11 |

UBS (Lux) Bond SICAV – USD Corporates (USD) Rapport semestriel au 30 novembre 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) |  |
| Billets, taux variable |  |  |  |
| USD |  |  |  |
| USD	BNP PARIBAS-144A 3.052%/VAR 20-13.01.31 | 1 400 000.00 | 1 160 820.76 | 0.59 |
| USD	ING GROEP NV 3.869%/VAR 22-28.03.26 | 1 250 000.00 | 1 200 778.88 | 0.62 |
| Total USD |  | 2 361 599.64 | 1.21 |
| Total des Billets, taux variable |  | 2 361 599.64 | 1.21 |
| Medium-Term Notes, taux fixe |  |  |  |
| USD |  |  |  |
| USD	NBN CO LTD-144A 0.87500% 21-08.10.24 | 2 500 000.00 | 2 297 584.00 | 1.18 |
| Total USD |  | 2 297 584.00 | 1.18 |
| Total des Medium-Term Notes, taux fixe |  | 2 297 584.00 | 1.18 |
| Medium-Term Notes, taux variable |  |  |  |
| USD |  |  |  |
| USD	COMMONWEALTH BANK AUSRALIA-144A-SUB 3.610%/VAR 19-12.09.34 | 1 500 000.00 | 1 225 566.00 | 0.63 |
| USD	NATIONAL AUSTRALIA BANK LTD-144A-SUB 3.933%/VAR 19-02.08.34 | 1 250 000.00 | 1 049 484.27 | 0.54 |
| Total USD |  | 2 275 050.27 | 1.17 |
| Total des Medium-Term Notes, taux variable |  | 2 275 050.27 | 1.17 |
| Obligations, taux fixe |  |  |  |
| USD |  |  |  |
| USD	DUKE ENERGY FLORIDA LLC 5.95000% 22-15.11.52 | 750 000.00 | 825 139.25 | 0.42 |
| USD	NGPL PIPECO LLC-144A 4.87500% 17-15.08.27 | 1 240 000.00 | 1 179 925.66 | 0.61 |
| USD	SYDNEY AIRPORT FINANCE CO PTY LTD-144A 3.62500% 16-28.04.26 | 1 000 000.00 | 932 091.10 | 0.48 |
| Total USD |  | 2 937 156.01 | 1.51 |
| Total des Obligations, taux fixe |  | 2 937 156.01 | 1.51 |
| Total des Titres et instruments du marché monétaire négociés sur un autre marché réglementé |  | 37 308 788.39 | 19.18 |

Titres et instruments du marché monétaire non négociés sur une bourse officielle ou un autre marché réglementé
Billets, taux fixe
| USD |  |
| --- | --- |
| USD | COMCAST CORP 2.88700% 22-01.11.51 | 3 250 000.00 | 2 168 045.19 | 1.12 |
| USD | GE CAPITAL FUNDING LLC 4.55000% 21-15.05.32 | 1 000 000.00 | 972 073.18 | 0.50 |
| Total USD |  |  | 3 140 118.37 | 1.62 |
| Total des Billets, taux fixe |  | 3 140 118.37 | 1.62 |
| Total des Titres et instruments du marché monétaire non négociés sur une bourse officielle ou un autre marché réglementé |  | 3 140 118.37 | 1.62 |
| Nouvelles émissions de titres et instruments du marché monétaire |  |  |  |
| Billets, taux fixe |  |  |  |
| USD |  |  |  |
| USD	BROADCOM INC-144A 4.92600% 22-15.05.37 | 1 250 000.00 | 1 096 865.94 | 0.56 |
| USD	ENEL FINANCE INTERNATIONAL NV-144A 6.80000% 22-14.10.25 | 1 250 000.00 | 1 294 400.86 | 0.67 |
| USD	MAGALLANES INC-144A 5.05000% 22-15.03.42 | 2 750 000.00 | 2 201 507.61 | 1.13 |
| Total USD |  | 4 592 774.41 | 2.36 |
| Total des Billets, taux fixe |  | 4 592 774.41 | 2.36 |
| Total des Nouvelles émissions de titres et instruments du marché monétaire |  | 4 592 774.41 | 2.36 |

OPCVM/Autres OPC au sens de l’article 41 (1) e) de la loi luxembourgeoise du 17 décembre 2010, telle que modifiée
Fonds d’investissement, ouvert
Luxembourg
| USD | UBS (LUX) BOND SICAV - MULTI INCOME (USD)-U-X-ACC- CAP | 270.00 | 2 613 451.50 | 1.34 |
| --- | --- | --- | --- | --- |
| USD | UBS(LUX)BOND SICAV-GLBL SDG CORPORATES SUSTNBLE(USD) U-X-ACC | 90.00 | 913 855.50 | 0.47 |
| Total Luxembourg | 3 527 307.00 | 1.81 |
| Total des Fonds d’investissement, ouvert | 3 527 307.00 | 1.81 |
| Total des OPCVM/Autres OPC au sens de l’article 41 (1) e) de la loi luxembourgeoise du 17 décembre 2010, telle que modifiée | 3 527 307.00 | 1.81 |
| Total du Portefeuille-titres | 186 534 485.81 | 95.91 |

UBS (Lux) Bond SICAV – USD Corporates (USD) Rapport semestriel au 30 novembre 2022
| Dénomination | Nombre/ Nominal | Evaluation en USD Bénéfice/(perte) non réalisé(e) sur futures/ Contrats de change à terme/ Swaps (note 1) | en % de l’actif net |
| --- | --- | --- | --- |
| Instruments dérivés |  |  |  |
| Instruments dérivés négociés sur une bourse officielle |  |  |  |
| Contrats financiers à terme sur obligations |  |  |  |
|  |  |  |  |
| USD	US ULTRA LONG BOND (CBT) FUTURE 22.03.23 | -3.00 | 945.31 | 0.00 |
| USD	US 10YR TREASURY NOTE FUTURE 22.03.23 | -50.00 | -39 250.00 | -0.02 |
| USD	US 2YR TREASURY NOTE FUTURE 31.03.23 | -15.00 | -9 593.75 | -0.01 |
| USD	US 5YR TREASURY NOTE FUTURE 31.03.23 | 50.00 | 31 054.71 | 0.02 |
| Total des Contrats financiers à terme sur obligations |  | -16 843.73 | -0.01 |
| Total des Instruments dérivés négociés sur une bourse officielle |  | -16 843.73 | -0.01 |
| Total des Instruments dérivés |  | -16 843.73 | -0.01 |
| Contrats de change à terme |  |  |  |
| Devise achetée/Montant acheté/Devise vendue/Montant vendu/Date de maturité |  |  |  |

| CHF | 10 646 400.00 | USD | 11 402 194.46 | 12.1.2023 | -164 676.68 | -0.09 |
| --- | --- | --- | --- | --- | --- | --- |
| EUR | 6 160 700.00 | USD | 6 450 456.20 | 12.1.2023 | -84 225.68 | -0.04 |
| EUR | 75 500.00 | USD | 78 454.53 | 12.1.2023 | -435.73 | 0.00 |
| CHF | 130 200.00 | USD | 137 537.65 | 12.1.2023 | -108.58 | 0.00 |
| EUR | 80 400.00 | USD | 83 713.28 | 12.1.2023 | -631.01 | 0.00 |
| CHF | 138 100.00 | USD | 146 390.01 | 12.1.2023 | -622.31 | 0.00 |
| Total des Contrats de change à terme | -250 699.99 | -0.13 |
|  |  |  |
| Avoirs en banque, dépôts à vue et à terme et autres liquidités | 2 412 925.78 | 1.24 |
| Autres actifs et passifs | 5 804 036.88 | 2.99 |
| Total de l’Actif net | 194 483 904.75 | 100.00 |

UBS (Lux) Bond SICAV – USD Corporates (USD) Rapport semestriel au 30 novembre 2022