# from 1 April 2023 to the 30 September 2023
|  |  |  |
| --- | --- | --- |
|  | Notes | Combined (in EUR) |
|  |
| Income |  |  |
| Dividends, net of taxes | 1f | 5,123,994.19 |
| Interest on bonds, net of taxes | 1f | 14,539,358.83 |
| Interest on cash accounts |  | 1,683,827.05 |
| Tax claim |  | 3.71 |
| Total Income |  | 21,347,183.78 |
| Expenses |  |  |
| Management Fee | 3 | 35,913,106.88 |
| Depositary fees | 6 | 1,027,586.11 |
| Subscription tax | 4 | 4,673,147.22 |
| Administration fees | 5 | 2,698,783.52 |
| Miscellaneous fees |  | 101,113.19 |
| Transaction fees |  | 1,145,222.53 |
| Overdraft interest |  | 26,623.56 |
| Taxes paid to foreign authorities |  | 20,102.18 |
| Total Expenses |  | 45,605,685.19 |
| Net Profit / (Loss) |  | -24,258,501.41 |
| Net Realised Profit / (Loss) |  |  |
| - on investments | 1b | 145,139,715.92 |
| - on currencies |  | 1,631,256.35 |
| - on forward exchange contracts |  | -10,133,794.41 |
| - on futures |  | -15,380,455.48 |
| Total Net Realised Profit / (Loss) |  | 96,998,220.97 |
| Change in Net Unrealised Appreciation or Depreciation |  |  |
| - on investments | 1e | -92,860,679.75 |
| - on currencies |  | 1,691,887.57 |
| - on forward exchange contracts |  | -27,564,950.23 |
| - on futures |  | 5,525,306.59 |
| Result of operations |  | -16,210,214.85 |
| - Subscriptions |  | 162,053,054.27 |
| - Redemptions |  | -486,761,869.81 |
| Dividends paid | 10 | -19,486,317.31 |
| Net changes in Net Assets |  | -360,405,347.70 |
| Net assets at the beginning of the period |  | 8,229,450,908.59 |
| Net assets at the end of the period |  | 7,869,045,560.89 |

|  |
| --- |
| Low |
|  |
|  | Notes | Value (in EUR) |
|  |
| Assets |  |  |
| Investments in securities | 1a | 538,852,241.36 |
| Cash at banks |  | 15,934,778.12 |
| Interest receivable on cash account |  | 43,907.80 |
| Interest receivable on bonds |  | 1,029,429.07 |
| Dividends receivable on shares |  | 26,731.80 |
| Amounts receivable on subscriptions |  | 1,316,233.11 |
| Futures guaranty deposit | 7 | 1,354,607.84 |
| Forward foreign exchange collateral | 8 | 2,030,000.00 |
| Prepaid expenses | 4 | 114,460.22 |
| Total Assets |  | 560,702,389.32 |
| Liabilities |  |  |
| Taxes and Expenses payable | 2 | 1,393,216.81 |
| Overdraft interest |  | 93.90 |
| Amounts payable on redemptions |  | 70,260.17 |
| Unrealised Loss on Forward Exchange Contracts | 8 | 1,800,789.27 |
| Amounts payable to the broker on futures |  | 198,045.81 |
| Total Liabilities |  | 3,462,405.96 |
| Net assets at the end of the period |  | 557,239,983.36 |
| Number of Shares Outstanding (at the end of the period) |  |  |
| - A |  | 4,384,045.035 |
| - B |  | 2,016,126.724 |
| - C1 |  | 488,137.196 |
| - C2 |  | 811,393.178 |
| - D1 |  | 1,565,510.718 |
| - D2 |  | 2,375,394.957 |
| Net Asset Value per Share (at the end of the period) |  |  |
| - A |  | 31.51 |
| - B |  | 87.71 |
| - C1 |  | 88.59 |
| - C2 |  | 89.57 |
| - D1 |  | 31.84 |
| - D2 |  | 32.21 |

|  |
| --- |
| Medium |
|  |
|  | Notes | Value (in EUR) |
|  |
| Assets |  |  |
| Investments in securities | 1a | 4,809,607,489.45 |
| Cash at banks |  | 102,517,845.72 |
| Interest receivable on cash account |  | 272,804.27 |
| Interest receivable on bonds |  | 8,027,304.39 |
| Dividends receivable on shares |  | 468,119.41 |
| Amounts receivable on subscriptions |  | 1,870,230.18 |
| Futures guaranty deposit | 7 | 10,592,045.38 |
| Forward foreign exchange collateral | 8 | 18,050,000.00 |
| Prepaid expenses | 4 | 1,062,654.03 |
| Total Assets |  | 4,952,468,492.83 |
| Liabilities |  |  |
| Taxes and Expenses payable | 2 | 12,532,797.58 |
| Overdraft interest |  | 2,607.59 |
| Amounts payable on redemptions |  | 7,893,740.45 |
| Unrealised Loss on Forward Exchange Contracts | 8 | 17,554,744.10 |
| Amounts payable to the broker on futures |  | 0.00 |
| Total Liabilities |  | 37,983,889.72 |
| Net assets at the end of the period |  | 4,914,484,603.11 |
| Number of Shares Outstanding (at the end of the period) |  |  |
| - A |  | 21,227,555.635 |
| - B |  | 10,134,992.674 |
| - C1 |  | 4,105,156.444 |
| - C2 |  | 6,033,588.017 |
| - D1 |  | 10,479,417.107 |
| - D2 |  | 12,275,764.659 |
| Net Asset Value per Share (at the end of the period) |  |  |
| - A |  | 52.90 |
| - B |  | 124.73 |
| - C1 |  | 126.80 |
| - C2 |  | 128.39 |
| - D1 |  | 53.77 |
| - D2 |  | 54.47 |

|  |
| --- |
| High |
|  |
|  | Notes | Value (in EUR) |
|  |
| Assets |  |  |
| Investments in securities | 1a | 1,259,866,339.55 |
| Cash at banks |  | 28,397,562.92 |
| Interest receivable on cash account |  | 74,069.92 |
| Interest receivable on bonds |  | 240,370.51 |
| Dividends receivable on shares |  | 167,392.62 |
| Amounts receivable on subscriptions |  | 904,026.64 |
| Futures guaranty deposit | 7 | 1,609,176.81 |
| Forward foreign exchange collateral | 8 | 1,640,000.00 |
| Prepaid expenses | 4 | 264,361.42 |
| Total Assets |  | 1,293,163,300.39 |
| Liabilities |  |  |
| Taxes and Expenses payable | 2 | 3,637,476.13 |
| Overdraft interest |  | 758.80 |
| Amounts payable on redemptions |  | 2,638,856.59 |
| Unrealised Loss on Forward Exchange Contracts | 8 | 1,683,759.75 |
| Amounts payable to the broker on futures |  | 0.00 |
| Total Liabilities |  | 7,960,851.27 |
| Net assets at the end of the period |  | 1,285,202,449.12 |
| Number of Shares Outstanding (at the end of the period) |  |  |
| - A |  | 4,554,590.402 |
| - B |  | 2,813,440.827 |
| - C1 |  | 1,361,368.220 |
| - C2 |  | 1,850,584.616 |
| - D1 |  | 2,492,692.738 |
| - D2 |  | 2,259,472.907 |
| Net Asset Value per Share (at the end of the period) |  |  |
| - A |  | 59.46 |
| - B |  | 118.95 |
| - C1 |  | 120.92 |
| - C2 |  | 122.25 |
| - D1 |  | 60.46 |
| - D2 |  | 61.15 |

|  |
| --- |
| Medium Low |
|  |
|  | Notes | Value (in EUR) |
|  |
| Assets |  |  |
| Investments in securities | 1a | 1,076,813,011.01 |
| Cash at banks |  | 34,155,457.34 |
| Interest receivable on cash account |  | 77,978.63 |
| Interest receivable on bonds |  | 1,575,529.01 |
| Dividends receivable on shares |  | 79,696.38 |
| Amounts receivable on subscriptions |  | 82,834.35 |
| Futures guaranty deposit | 7 | 1,838,775.61 |
| Forward foreign exchange collateral | 8 | 3,660,000.00 |
| Prepaid expenses | 4 | 247,599.41 |
| Total Assets |  | 1,118,530,881.74 |
| Liabilities |  |  |
| Taxes and Expenses payable | 2 | 2,760,834.82 |
| Overdraft interest |  | 115.77 |
| Amounts payable on redemptions |  | 103,804.99 |
| Unrealised Loss on Forward Exchange Contracts | 8 | 3,547,600.86 |
| Amounts payable to the broker on futures |  | 0.00 |
| Total Liabilities |  | 6,412,356.44 |
| Net assets at the end of the period |  | 1,112,118,525.30 |
| Number of Shares Outstanding (at the end of the period) |  |  |
| - A |  | 4,573,232.842 |
| - B |  | 4,099,806.740 |
| - C1 |  | 1,502,900.414 |
| - C2 |  | 2,072,849.465 |
| - D1 |  | 2,007,872.980 |
| - D2 |  | 2,200,891.760 |
| Net Asset Value per Share (at the end of the period) |  |  |
| - A |  | 64.03 |
| - B |  | 70.34 |
| - C1 |  | 71.22 |
| - C2 |  | 72.01 |
| - D1 |  | 64.86 |
| - D2 |  | 65.60 |

|  |
| --- |
| Low |
|  |
|  | Notes | Value (in EUR) |
|  |
| Income |  |  |
| Dividends, net of taxes | 1f | 211,316.61 |
| Interest on bonds, net of taxes | 1f | 1,375,127.98 |
| Interest on cash accounts |  | 146,739.60 |
| Tax claim |  | 0.00 |
| Total Income |  | 1,733,184.19 |
| Expenses |  |  |
| Management Fee | 3 | 2,435,421.44 |
| Depositary fees | 6 | 73,813.05 |
| Subscription tax | 4 | 306,223.64 |
| Administration fees | 5 | 209,718.53 |
| Miscellaneous fees |  | 8,741.33 |
| Transaction fees |  | 48,442.67 |
| Overdraft interest |  | 2,504.87 |
| Taxes paid to foreign authorities |  | 4,940.31 |
| Total Expenses |  | 3,089,805.84 |
| Net Profit / (Loss) |  | -1,356,621.65 |
| Net Realised Profit / (Loss) |  |  |
| - on investments | 1b | 5,510,791.99 |
| - on currencies |  | 102,996.01 |
| - on forward exchange contracts |  | -484,128.92 |
| - on futures |  | -1,297,477.63 |
| Total Net Realised Profit / (Loss) |  | 2,475,559.80 |
| Change in Net Unrealised Appreciation or Depreciation |  |  |
| - on investments | 1e | -2,922,488.41 |
| - on currencies |  | 215,346.48 |
| - on forward exchange contracts |  | -2,161,808.30 |
| - on futures |  | 1,735,845.30 |
| Result of operations |  | -657,545.13 |
| - Subscriptions |  | 19,993,873.11 |
| - Redemptions |  | -55,157,238.54 |
| Dividends paid | 10 | -1,254,898.32 |
| Net changes in Net Assets |  | -37,075,808.88 |
| Net assets at the beginning of the period |  | 594,315,792.24 |
| Net assets at the end of the period |  | 557,239,983.36 |

|  |
| --- |
| Medium |
|  |
|  | Notes | Value (in EUR) |
|  |
| Income |  |  |
| Dividends, net of taxes | 1f | 3,123,428.62 |
| Interest on bonds, net of taxes | 1f | 10,261,711.36 |
| Interest on cash accounts |  | 960,420.45 |
| Tax claim |  | 0.00 |
| Total Income |  | 14,345,560.43 |
| Expenses |  |  |
| Management Fee | 3 | 22,125,102.59 |
| Depositary fees | 6 | 638,180.74 |
| Subscription tax | 4 | 2,956,221.59 |
| Administration fees | 5 | 1,657,922.36 |
| Miscellaneous fees |  | 60,937.83 |
| Transaction fees |  | 693,384.92 |
| Overdraft interest |  | 6,799.72 |
| Taxes paid to foreign authorities |  | 5,053.96 |
| Total Expenses |  | 28,143,603.71 |
| Net Profit / (Loss) |  | -13,798,043.28 |
| Net Realised Profit / (Loss) |  |  |
| - on investments | 1b | 91,554,450.85 |
| - on currencies |  | 1,132,172.82 |
| - on forward exchange contracts |  | -6,810,886.73 |
| - on futures |  | -11,104,193.30 |
| Total Net Realised Profit / (Loss) |  | 60,973,500.36 |
| Change in Net Unrealised Appreciation or Depreciation |  |  |
| - on investments | 1e | -70,289,122.61 |
| - on currencies |  | 986,041.47 |
| - on forward exchange contracts |  | -19,482,707.85 |
| - on futures |  | 2,438,084.12 |
| Result of operations |  | -25,374,204.51 |
| - Subscriptions |  | 99,708,458.33 |
| - Redemptions |  | -297,413,539.67 |
| Dividends paid | 10 | -12,401,573.46 |
| Net changes in Net Assets |  | -235,480,859.31 |
| Net assets at the beginning of the period |  | 5,149,965,462.42 |
| Net assets at the end of the period |  | 4,914,484,603.11 |

|  |
| --- |
| High |
|  |
|  | Notes | Value (in EUR) |
|  |
| Income |  |  |
| Dividends, net of taxes | 1f | 1,225,067.99 |
| Interest on bonds, net of taxes | 1f | 564,528.69 |
| Interest on cash accounts |  | 268,574.72 |
| Tax claim |  | 3.71 |
| Total Income |  | 2,058,175.11 |
| Expenses |  |  |
| Management Fee | 3 | 6,475,566.61 |
| Depositary fees | 6 | 168,613.03 |
| Subscription tax | 4 | 747,300.96 |
| Administration fees | 5 | 443,404.67 |
| Miscellaneous fees |  | 16,563.84 |
| Transaction fees |  | 271,718.31 |
| Overdraft interest |  | 16,708.95 |
| Taxes paid to foreign authorities |  | 5,053.96 |
| Total Expenses |  | 8,144,930.33 |
| Net Profit / (Loss) |  | -6,086,755.22 |
| Net Realised Profit / (Loss) |  |  |
| - on investments | 1b | 32,757,932.87 |
| - on currencies |  | 144,621.25 |
| - on forward exchange contracts |  | -1,678,777.04 |
| - on futures |  | -768,672.57 |
| Total Net Realised Profit / (Loss) |  | 24,368,349.29 |
| Change in Net Unrealised Appreciation or Depreciation |  |  |
| - on investments | 1e | -12,253,448.27 |
| - on currencies |  | 183,376.80 |
| - on forward exchange contracts |  | -1,864,894.81 |
| - on futures |  | -797,536.89 |
| Result of operations |  | 9,635,846.12 |
| - Subscriptions |  | 35,129,646.80 |
| - Redemptions |  | -75,780,052.33 |
| Dividends paid | 10 | -2,986,158.18 |
| Net changes in Net Assets |  | -34,000,717.59 |
| Net assets at the beginning of the period |  | 1,319,203,166.71 |
| Net assets at the end of the period |  | 1,285,202,449.12 |

|  |
| --- |
| Medium Low |
|  |
|  | Notes | Value (in EUR) |
|  |
| Income |  |  |
| Dividends, net of taxes | 1f | 564,180.97 |
| Interest on bonds, net of taxes | 1f | 2,337,990.80 |
| Interest on cash accounts |  | 308,092.28 |
| Tax claim |  | 0.00 |
| Total Income |  | 3,210,264.05 |
| Expenses |  |  |
| Management Fee | 3 | 4,877,016.24 |
| Depositary fees | 6 | 146,979.29 |
| Subscription tax | 4 | 663,401.03 |
| Administration fees | 5 | 387,737.96 |
| Miscellaneous fees |  | 14,870.19 |
| Transaction fees |  | 131,676.63 |
| Overdraft interest |  | 610.02 |
| Taxes paid to foreign authorities |  | 5,053.95 |
| Total Expenses |  | 6,227,345.31 |
| Net Profit / (Loss) |  | -3,017,081.26 |
| Net Realised Profit / (Loss) |  |  |
| - on investments | 1b | 15,316,540.21 |
| - on currencies |  | 251,466.27 |
| - on forward exchange contracts |  | -1,160,001.72 |
| - on futures |  | -2,210,111.98 |
| Total Net Realised Profit / (Loss) |  | 9,180,811.52 |
| Change in Net Unrealised Appreciation or Depreciation |  |  |
| - on investments | 1e | -7,395,620.46 |
| - on currencies |  | 307,122.82 |
| - on forward exchange contracts |  | -4,055,539.27 |
| - on futures |  | 2,148,914.06 |
| Result of operations |  | 185,688.67 |
| - Subscriptions |  | 7,221,076.03 |
| - Redemptions |  | -58,411,039.27 |
| Dividends paid | 10 | -2,843,687.35 |
| Net changes in Net Assets |  | -53,847,961.92 |
| Net assets at the beginning of the period |  | 1,165,966,487.22 |
| Net assets at the end of the period |  | 1,112,118,525.30 |

|  |
| --- |
| Low |
|  |
| Investment | Quantity | CCY | Cost (in EUR) | Evaluation value (in EUR) | % Total Net Assets |
|  |
| Transferable securities admitted to an official stock exchange or dealt in on another regulated market |  |  |  |  |  |
| Shares & Related Securities |  |  |  |  |  |
| NESTLE SA-REG | 8,337 | CHF | 688,492.05 | 892,964.10 | 0.16% |
| ROCHE HOLDING AG-GENUSSCHEIN | 4,618 | CHF | 1,484,302.00 | 1,194,133.60 | 0.21% |
| Total SWISS FRANC |  |  | 2,172,794.05 | 2,087,097.70 | 0.37% |
| AIR LIQUIDE | 5,643 | EUR | 478,783.46 | 901,977.12 | 0.16% |
| ANHEUSER-BUSCH INBEV | 13,500 | EUR | 687,839.63 | 708,885.00 | 0.13% |
| ASML HOLDING NV | 1,320 | EUR | 865,472.35 | 738,012.00 | 0.13% |
| BNP PARIBAS S.A. | 5,150 | EUR | 283,086.88 | 311,214.50 | 0.06% |
| ENEL AZ | 188,450 | EUR | 1,399,234.99 | 1,096,779.00 | 0.20% |
| KBC GROUP S.A. | 12,520 | EUR | 870,755.22 | 740,432.80 | 0.13% |
| LVMH MOET HENNESSY LOUIS VUI | 1,130 | EUR | 435,892.01 | 809,532.00 | 0.15% |
| SOLVAY & CIE | 4,573 | EUR | 380,537.32 | 479,479.05 | 0.09% |
| TOTAL ENERGIES SE | 24,000 | EUR | 1,129,341.79 | 1,495,440.00 | 0.27% |
| Total EURO |  |  | 6,530,943.65 | 7,281,751.47 | 1.31% |
| ASTRAZENECA PLC | 2,103 | GBP | 154,421.81 | 269,166.54 | 0.05% |
| DIAGEO PLC | 15,827 | GBP | 652,061.86 | 553,598.32 | 0.10% |
| Total BRITISH POUND |  |  | 806,483.67 | 822,764.86 | 0.15% |
| ASSA ABLOY AB -B- | 10,500 | SEK | 166,798.14 | 217,439.69 | 0.04% |
| Total SWEDISH KRONA |  |  | 166,798.14 | 217,439.69 | 0.04% |
| ABBOTT LABORATORIES | 9,035 | USD | 889,544.29 | 826,483.83 | 0.15% |
| ALPHABET INC. -C- | 6,780 | USD | 318,205.68 | 844,338.13 | 0.15% |
| AMAZON.COM INC. | 15,985 | USD | 1,729,301.68 | 1,919,256.86 | 0.34% |
| APPLE INC. | 4,800 | USD | 724,168.53 | 776,205.90 | 0.14% |
| BOSTON SCIENTIFIC CORP. | 17,811 | USD | 541,907.48 | 888,236.88 | 0.16% |
| COMCAST CORP-CLASS A | 7,900 | USD | 233,842.53 | 330,848.64 | 0.06% |
| JPMORGAN CHASE & CO | 6,200 | USD | 525,724.17 | 849,231.64 | 0.15% |
| MICROSOFT CORP. | 2,305 | USD | 416,195.29 | 687,417.95 | 0.12% |
| UNITEDHEALTH | 1,300 | USD | 573,846.14 | 619,076.27 | 0.11% |
| Total U.S. DOLLAR |  |  | 5,952,735.79 | 7,741,096.10 | 1.39% |
| Total Shares & Related Securities |  |  | 15,629,755.30 | 18,150,149.82 | 3.26% |
| Bonds |  |  |  |  |  |
| ABN AMRO 4,25 22-30 | 700,000 | EUR | 699,650.00 | 685,527.50 | 0.12% |
| ABN AMRO BANK 0,875 19-150124 | 1,500,000 | EUR | 1,491,195.00 | 1,486,687.50 | 0.27% |
| AEDIFICA 0,75 21-090931 | 700,000 | EUR | 699,125.00 | 500,913.00 | 0.09% |
| AHOLD DELHAIZE N.V. 0,875 17-190924 | 1,500,000 | EUR | 1,568,820.00 | 1,456,830.00 | 0.26% |
| AMERICAN MEDICAL 1,875 22-080334 | 2,000,000 | EUR | 1,635,700.00 | 1,586,970.00 | 0.28% |
| ANHEUSER BUSCH INBEV 1,125 19-010727 | 1,800,000 | EUR | 1,802,809.46 | 1,640,421.00 | 0.29% |

|  |
| --- |
| Low |
|  |
| Investment | Quantity | CCY | Cost (in EUR) | Evaluation value (in EUR) | % Total Net Assets |
|  |
| ARGAN 1,011 21-171126 | 1,500,000 | EUR | 1,509,900.00 | 1,306,372.50 | 0.23% |
| ARGENTA SPAARBANK 1,00 20-290127 | 1,000,000 | EUR | 995,300.00 | 887,655.00 | 0.16% |
| AROUNDTOWN S.A. 0,00 20-160726 | 800,000 | EUR | 785,980.00 | 646,980.00 | 0.12% |
| BECTON DICKINSON 1,90 16-151226 | 1,000,000 | EUR | 1,002,600.00 | 937,840.00 | 0.17% |
| BLACKROCK INC. 1,25 15-060525 | 1,200,000 | EUR | 1,294,992.00 | 1,145,454.00 | 0.21% |
| BNP PARIBAS S.A. FRN 19-230127 | 1,300,000 | EUR | 1,226,166.50 | 1,228,916.00 | 0.22% |
| BPCE S.A. 1,00 19-010425 | 1,100,000 | EUR | 1,098,086.00 | 1,048,173.50 | 0.19% |
| BUONI POLIENNALI 0,50 21-150728 | 2,300,000 | EUR | 2,312,445.30 | 1,942,430.50 | 0.35% |
| BUREAU VERITAS 1,125 19-180127 | 1,000,000 | EUR | 1,033,000.00 | 901,895.00 | 0.16% |
| CIE SAINT GOBAIN 0,625 19-150324 | 1,000,000 | EUR | 996,130.00 | 985,045.00 | 0.18% |
| CITIGROUP INC. 0,75 16-261023 | 1,700,000 | EUR | 1,709,350.00 | 1,696,549.00 | 0.30% |
| CLOVERIE PLC ZURICH 1,50 18-151228 | 800,000 | EUR | 719,976.00 | 714,724.00 | 0.13% |
| COOP RAB 4,00 23-30 | 2,500,000 | EUR | 2,467,350.00 | 2,442,437.50 | 0.44% |
| COOP RABO FRN 23-29 | 500,000 | EUR | 500,000.00 | 493,762.50 | 0.09% |
| DH EUROPE FINANCE 0,45 19-180328 | 1,800,000 | EUR | 1,791,000.00 | 1,550,745.00 | 0.28% |
| ECOLAB INC. 1,00 16-150124 | 1,700,000 | EUR | 1,729,149.90 | 1,684,105.00 | 0.30% |
| ERG SpA 1,875 19-110425 | 1,500,000 | EUR | 1,587,750.00 | 1,445,850.00 | 0.26% |
| FLUXYS BELGIUM 1,75 17-051027 | 1,000,000 | EUR | 1,030,000.00 | 897,455.00 | 0.16% |
| FLUXYS BELGIUM 2,75 14-271129 | 800,000 | EUR | 762,400.00 | 709,252.00 | 0.13% |
| GIMV N.V.N.V. 2,25 21-150329 | 600,000 | EUR | 600,000.00 | 529,131.00 | 0.09% |
| GROUPE BRUX LAMBERT 1,375 17-230524 | 1,500,000 | EUR | 1,519,744.00 | 1,473,690.00 | 0.26% |
| GROUPE BRUX LAMBERT 1,875 18-190625 | 1,000,000 | EUR | 1,016,400.00 | 963,820.00 | 0.17% |
| GRP BRUXLL LAMBERT 3,125 22-060929 | 500,000 | EUR | 496,695.00 | 479,162.50 | 0.09% |
| HEINEKEN N.V. 1,00 16-040526 | 1,000,000 | EUR | 1,059,900.00 | 933,955.00 | 0.17% |
| ITALY BTP 0,40 16-110424 | 1,280,000 | EUR | 1,296,008.04 | 1,270,992.68 | 0.23% |
| ITALY BTP 0,95 21-010337 | 1,200,000 | EUR | 1,203,948.00 | 743,778.00 | 0.13% |
| ITALY BTP 3,00 19-010829 | 6,750,000 | EUR | 7,833,712.50 | 6,317,561.25 | 1.13% |
| ITALY BTP 3,35 18-010335 | 1,500,000 | EUR | 1,824,839.25 | 1,306,972.50 | 0.23% |
| ITALY BTP FRN 16-150528 | 5,100,000 | EUR | 6,029,095.66 | 6,073,056.10 | 1.09% |
| KBC GROUP 0,75 21-310531 | 800,000 | EUR | 799,600.00 | 624,412.00 | 0.11% |
| KFW 0,125 22-090132 | 1,400,000 | EUR | 1,155,322.00 | 1,076,621.00 | 0.19% |
| LA LORRAINE BAKERY 3,00 20-151227 | 1,152,000 | EUR | 1,159,129.00 | 1,070,674.56 | 0.19% |
| LA POSTE 0,625 20-211026 | 1,500,000 | EUR | 1,497,587.36 | 1,356,075.00 | 0.24% |
| LVMH 0,75 20-070425 | 500,000 | EUR | 498,585.00 | 478,120.00 | 0.09% |
| NN BANK N.V. NETHERLDS 0,50 21-210928 | 1,500,000 | EUR | 1,255,800.00 | 1,251,720.00 | 0.22% |
| PERNOD RICARD 0,50 19-241027 | 800,000 | EUR | 797,688.00 | 707,640.00 | 0.13% |
| PERNOD RICARD 2,125 14-270924 | 1,000,000 | EUR | 1,074,000.00 | 982,440.00 | 0.18% |
| PORTUGAL 2,875 15-151025 | 3,500,000 | EUR | 3,965,745.00 | 3,478,265.00 | 0.62% |
| SOFINA 1,00 21-230928 | 1,700,000 | EUR | 1,686,088.00 | 1,332,052.00 | 0.24% |
| SPAIN KINGDOM 1,85 19-300735 | 3,000,000 | EUR | 3,282,129.81 | 2,394,900.00 | 0.43% |
| SPAIN KINGDOM 1,95 16-300426 | 4,800,000 | EUR | 5,242,560.00 | 4,622,808.00 | 0.83% |
| SPAIN KINGDOM -INFLATION LINKED- 0,65 16-301127 | 1,200,000 | EUR | 1,408,311.46 | 1,437,532.21 | 0.26% |
| SPAIN KINGDOM -INFLATION LINKED- 1,80 13-301124 | 7,900,000 | EUR | 9,250,607.24 | 9,773,172.46 | 1.75% |
| SYMRISE 1,25 19-291125 | 1,500,000 | EUR | 1,490,374.13 | 1,412,310.00 | 0.25% |
| THERMO FISHER 1,75 20-150427 | 600,000 | EUR | 599,119.61 | 558,240.00 | 0.10% |
| THERMO FISHER SCIENTIFIC 0,50 19-010328 | 1,500,000 | EUR | 1,474,500.00 | 1,296,382.50 | 0.23% |
| TMVOLKSWAGEN 4,70 13-111228 | 1,250,000 | EUR | 1,246,700.00 | 1,239,387.50 | 0.22% |
| TOTAL ENERGIES 1,491 20-080427 | 1,800,000 | EUR | 1,800,000.00 | 1,664,946.00 | 0.30% |
| UBS GRP FRN 23-31 | 700,000 | EUR | 697,438.00 | 677,393.50 | 0.12% |
| UCB 1,00 21-300328 | 800,000 | EUR | 798,008.00 | 682,960.00 | 0.12% |
| VERIZON COMMUNICATIONS INC. 0,875 19-080427 | 2,000,000 | EUR | 2,027,724.80 | 1,795,550.00 | 0.32% |

|  |
| --- |
| Low |
|  |
| Investment | Quantity | CCY | Cost (in EUR) | Evaluation value (in EUR) | % Total Net Assets |
|  |
| VERIZON COMMUNICATIONS INC.1,30 20-180533 | 800,000 | EUR | 831,560.00 | 609,056.00 | 0.11% |
| VGP N.V. 1,50 21-080429 | 800,000 | EUR | 795,032.40 | 596,696.00 | 0.11% |
| VINCI S.A. 0,00 20-271128 | 500,000 | EUR | 502,365.00 | 415,570.00 | 0.07% |
| Total EURO |  |  | 100,665,192.42 | 91,650,033.26 | 16.45% |
| UK TREAS 3,25 23-33 | 1,100,000 | GBP | 1,154,633.25 | 1,154,232.77 | 0.21% |
| Total BRITISH POUND |  |  | 1,154,633.25 | 1,154,232.77 | 0.21% |
| AMAZON 3,00 22-25 | 670,000 | USD | 602,022.04 | 611,568.41 | 0.11% |
| APPLE INC 0,70 21-26 | 1,200,000 | USD | 1,062,143.44 | 1,021,544.27 | 0.18% |
| DEUT TEL 4,375 18-28 | 1,000,000 | USD | 924,090.84 | 896,628.10 | 0.16% |
| JPMORGAN FRN 20-26 | 1,000,000 | USD | 883,153.96 | 886,814.64 | 0.16% |
| US TREASURY 0,625 20-150530 | 500,000 | USD | 432,962.65 | 365,591.80 | 0.07% |
| US TREASURY 1,125 20-150540 | 4,800,000 | USD | 2,959,260.61 | 2,608,264.47 | 0.47% |
| US TREASURY 1,125 21-310828 | 6,600,000 | USD | 5,587,361.85 | 5,279,707.76 | 0.95% |
| US TREASURY 2,25 17-150227 | 10,200,000 | USD | 9,285,146.98 | 8,893,764.74 | 1.60% |
| US TREASURY 2,75 22-150832 | 710,000 | USD | 683,121.20 | 580,909.09 | 0.10% |
| US TREASURY 2,875 18-310725 | 9,800,000 | USD | 8,747,484.81 | 8,894,989.65 | 1.60% |
| US TREASURY 3,00 22-150852 | 2,100,000 | USD | 1,928,054.95 | 1,446,074.38 | 0.26% |
| US TREASURY -INFLATION LINKED- 0,375 17-150127 | 6,500,000 | USD | 6,101,755.04 | 7,229,033.29 | 1.30% |
| US TREASURY NOTES 1,75 19-151129 | 2,500,000 | USD | 2,210,313.13 | 2,012,278.63 | 0.36% |
| Total U.S. DOLLAR |  |  | 41,406,871.50 | 40,727,169.23 | 7.31% |
| Total Bonds |  |  | 143,226,697.17 | 133,531,435.26 | 23.96% |
| Total Transferable securities admitted to an official stock exchange or dealt in on another regulated market |  |  | 158,856,452.47 | 151,681,585.08 | 27.22% |
| Investment funds |  |  |  |  |  |
| AMUNDI ULTRA SHORT-TERM BOND SRI -CAP- | 1 | EUR | 13,432,693.59 | 13,536,329.72 | 2.43% |
| DPAM -B- BONDS EUR MEDIUM TERM -J- | 1,877 | EUR | 47,672,111.41 | 44,826,682.93 | 8.04% |
| DPAM -B- EQUIT. JAPAN J | 68 | EUR | 1,700,000.00 | 1,732,541.40 | 0.31% |
| DPAM -B- EQUIT. DRAGONS SUSTAINABLE -J- | 215 | EUR | 5,746,763.26 | 4,007,761.25 | 0.72% |
| DPAM -B- EQUIT. EUROPE DIVIDEND -J- | 134 | EUR | 3,554,115.75 | 4,114,495.60 | 0.74% |
| DPAM -B- EQUIT. EUROPE SUSTAINABLE -J- | 322 | EUR | 10,480,001.10 | 12,255,967.22 | 2.20% |
| DPAM -B- EQUIT. EUR SMALL CAPS SUSTAINABLE -J- | 51 | EUR | 1,335,100.32 | 1,470,586.39 | 0.26% |
| DPAM -B- EQUIT. NEWGEMS SUSTAINABLE -J- | 76 | EUR | 2,027,707.20 | 2,355,600.24 | 0.42% |
| DPAM -B- EQUIT. US BEHAVIORAL VALUE -J- | 319 | EUR | 8,607,323.18 | 12,909,013.30 | 2.32% |
| DPAM -B- EQUIT. US ESG LEADER INDEX -J- | 160 | EUR | 14,777,602.80 | 22,728,782.40 | 4.08% |
| DPAM -B- EQUIT. WORLD SUSTAINABLE -J- | 125 | EUR | 3,941,653.74 | 5,697,699.56 | 1.02% |
| DPAM -B- REAL ESTATE EUROPE SUSTAINABLE -J- | 129 | EUR | 3,387,732.38 | 2,790,251.88 | 0.50% |
| DPAM CAP -B- EQUIT. US DIVIDENDE SUSTAINABLE -J- -CAP- | 88 | EUR | 3,979,652.76 | 4,170,067.44 | 0.75% |
| DPAM CAPITAL B EQUITIES EUROPE INDEX -J- | 330 | EUR | 11,390,624.00 | 11,221,699.50 | 2.01% |
| DPAM EQUITIES L EUR BEHAVIORAL VALUE J -CAP- | 265 | EUR | 6,551,332.59 | 6,576,383.10 | 1.18% |
| DPAM L BDS EMCS J | 48 | EUR | 1,200,000.00 | 1,226,157.12 | 0.22% |
| DPAM L BONDS CLIMATE TRENDS SUSTAINABLE -J- | 920 | EUR | 23,358,293.83 | 20,171,542.80 | 3.62% |
| DPAM L BONDS CORP. HIGH YIELD -J- -CAP- | 105 | EUR | 2,722,257.70 | 2,873,107.65 | 0.52% |
| DPAM L BONDS CORPORATE EUR -J- | 1,937 | EUR | 49,563,587.97 | 45,985,019.21 | 8.25% |
| DPAM L BONDS EMERGING MARKETS SUSTAINABLE -J- -CAP- | 535 | EUR | 13,836,438.78 | 15,613,021.48 | 2.80% |

|  |
| --- |
| Low |
|  |
| Investment | Quantity | CCY | Cost (in EUR) | Evaluation value (in EUR) | % Total Net Assets |
|  |
| DPAM L BONDS EUR HIGH YIELD SHORT-TERM -J- -CAP- | 199 | EUR | 4,978,138.14 | 5,107,878.27 | 0.92% |
| DPAM L BONDS EUR QUALITY -J- -CAP- | 2,765 | EUR | 68,502,468.44 | 63,696,724.35 | 11.43% |
| DPAM L BONDS GOVERNMENTT SUSTAINABLE -J- -CAP- | 136 | EUR | 3,312,478.56 | 3,024,694.40 | 0.54% |
| DPAM L BONDS GOVT GLOBAL -J- -CAP- | 298 | EUR | 7,112,896.69 | 7,103,840.22 | 1.27% |
| DPAM L BONDS GOVT SUSTAINABLE -J- -CAP- | 339 | EUR | 8,475,000.00 | 6,920,325.66 | 1.24% |
| DPAM L BONDS UNIV UNCONST -J- -CAP- | 990 | EUR | 25,573,422.64 | 25,475,107.69 | 4.57% |
| DPAML EQUIT. EMERGING MARKETS ESG LEAD INDEX -J- -CAP- | 390 | EUR | 9,521,115.64 | 7,786,853.10 | 1.40% |
| DPWM STRATEGIES ACTIONS SI | 16 | EUR | 1,713,815.90 | 1,720,854.40 | 0.31% |
| OSTRUM SRI MONEY PLUS -I- -CAP- | 10 | EUR | 1,030,194.48 | 1,048,585.20 | 0.19% |
| SELECT EQUIT. EMERGING MLTI MGMT -Z- EUR | 77 | EUR | 7,044,674.26 | 7,483,864.76 | 1.34% |
| SELECT EQUIT. JAPAN MULTI MANAGMENT -Z- -CAP- | 28 | EUR | 3,796,992.75 | 5,694,664.92 | 1.02% |
| Total EURO |  |  | 370,326,189.86 | 371,326,103.16 | 66.64% |
| ALLIANZ GLOBAL INVESTMENT FUND CHINA -A- -CAP- | 1,904 | USD | 2,361,528.01 | 1,919,838.19 | 0.34% |
| BROWN ADV US SUST GR | 146,575 | USD | 1,952,031.05 | 1,953,410.39 | 0.35% |
| ISHARES SP 500 ENERGY SECTOR UCITS | 158,000 | USD | 1,059,381.08 | 1,330,595.04 | 0.24% |
| MORGAN STANLEY INVESTMENT US GROWTH FUND Z | 17,550 | USD | 2,131,160.36 | 1,695,574.50 | 0.30% |
| NEUBERGER BERMAN US SMALL I3 -CAP- | 100 | USD | 859,686.76 | 1,358,425.04 | 0.24% |
| POLEN CAPITAL FOCUS U.S.GROWTH US -DIS- | 151,720 | USD | 1,817,510.64 | 2,120,855.73 | 0.38% |
| Total U.S. DOLLAR |  |  | 10,181,297.90 | 10,378,698.89 | 1.86% |
| Total Investment funds |  |  | 380,507,487.76 | 381,704,802.05 | 68.50% |
| Other Transferable Securities |  |  |  |  |  |
| 3I EUROPARTNERS V -B- PE | 7,488 | EUR | 285.82 | 7,487.50 | 0.00% |
| ATLANTIC CERTIFICATES -REG- | 20 | EUR | 701,835.00 | 619,072.00 | 0.11% |
| CARLYLE EUROPE PARTNER III PE | 9,117 | EUR | 482.97 | 9,116.58 | 0.00% |
| DEGROOF ALTERNATIVE FOHF LOW VOLATILITY -A- -LIQUIDATION- | 24,500 | EUR | 597,240.02 | 115,395.00 | 0.02% |
| DEGROOF ALTERNATIVE FOHF LOW VOLATILITY -B- -LIQUIDATION- | 142,000 | EUR | 0.00 | 0.00 | 0.00% |
| DEGROOF PRIVATE - RENEWABLE ENERGY II -B- -REG- | 0 | EUR | 417.00 | 2,259.10 | 0.00% |
| SIGMA FINANCE CORP. CAPITAL FRN 06-310314 | 3,000,000 | EUR | 2,250,000.00 | 0.00 | 0.00% |
| Total EURO |  |  | 3,550,260.81 | 753,330.18 | 0.14% |
| CARLYLE US PARTNERS V PE | 49,882 | USD | 956.70 | 47,114.43 | 0.01% |
| NORTEL NETWORKS CORP. -FAILLITE- | 250 | USD | 172,566.39 | 0.00 | 0.00% |
| WISDOMTREE PHYSICAL SWISS GOLD 09-PERPETUAL | 27,743 | USD | 3,807,108.42 | 4,665,409.62 | 0.84% |
| Total U.S. DOLLAR |  |  | 3,980,631.51 | 4,712,524.05 | 0.85% |
| Total Other Transferable Securities |  |  | 7,530,892.32 | 5,465,854.23 | 0.98% |
| Total Portfolio |  |  | 546,894,832.55 | 538,852,241.36 | 96.70% |

|  |
| --- |
| Medium |
|  |
| Investment | Quantity | CCY | Cost (in EUR) | Evaluation value (in EUR) | % Total Net Assets |
|  |
| Transferable securities admitted to an official stock exchange or dealt in on another regulated market |  |  |  |  |  |
| Shares & Related Securities |  |  |  |  |  |
| TELUS CORP. NON-CANADIAN | 10,000 | CAD | 80,014.96 | 154,953.19 | 0.00% |
| Total CANADIAN DOLLAR |  |  | 80,014.96 | 154,953.19 | 0.00% |
| NESTLE SA-REG | 151,355 | CHF | 12,354,846.46 | 16,211,416.76 | 0.33% |
| ROCHE HOLDING AG-GENUSSCHEIN | 111,344 | CHF | 35,024,439.50 | 28,791,600.64 | 0.59% |
| Total SWISS FRANC |  |  | 47,379,285.96 | 45,003,017.40 | 0.92% |
| AIR LIQUIDE | 90,042 | EUR | 7,642,924.84 | 14,392,313.28 | 0.29% |
| ANHEUSER-BUSCH INBEV | 245,000 | EUR | 12,483,023.69 | 12,864,950.00 | 0.26% |
| ASML HOLDING NV | 23,550 | EUR | 15,440,524.99 | 13,166,805.00 | 0.27% |
| BNP PARIBAS S.A. | 91,940 | EUR | 5,053,790.56 | 5,555,934.20 | 0.11% |
| ENEL AZ | 2,845,100 | EUR | 21,086,816.29 | 16,558,482.00 | 0.34% |
| KBC GROUP S.A. | 168,701 | EUR | 11,599,217.10 | 9,976,977.14 | 0.20% |
| LVMH MOET HENNESSY LOUIS VUI | 21,085 | EUR | 10,667,800.71 | 15,105,294.00 | 0.31% |
| SOLVAY & CIE | 62,474 | EUR | 5,198,705.07 | 6,550,398.90 | 0.13% |
| TOTAL ENERGIES SE | 429,000 | EUR | 20,109,979.46 | 26,730,990.00 | 0.54% |
| Total EURO |  |  | 109,282,782.71 | 120,902,144.52 | 2.46% |
| ASTRAZENECA PLC | 44,621 | GBP | 3,276,521.57 | 5,711,117.62 | 0.12% |
| DIAGEO PLC | 262,415 | GBP | 10,811,827.71 | 9,178,776.92 | 0.19% |
| Total BRITISH POUND |  |  | 14,088,349.28 | 14,889,894.54 | 0.30% |
| ASSA ABLOY AB -B- | 163,000 | SEK | 2,593,534.29 | 3,375,492.28 | 0.07% |
| Total SWEDISH KRONA |  |  | 2,593,534.29 | 3,375,492.28 | 0.07% |
| ABBOTT LABORATORIES | 160,760 | USD | 15,834,538.73 | 14,705,649.11 | 0.30% |
| ALPHABET INC. -C- | 79,460 | USD | 3,729,583.79 | 9,895,443.68 | 0.20% |
| AMAZON.COM INC. | 266,355 | USD | 30,106,153.54 | 31,980,210.25 | 0.65% |
| APPLE INC. | 80,600 | USD | 12,039,669.26 | 13,033,790.79 | 0.27% |
| BOSTON SCIENTIFIC CORP. | 267,167 | USD | 8,128,671.35 | 13,323,652.99 | 0.27% |
| COMCAST CORP-CLASS A | 240,673 | USD | 7,144,945.26 | 10,079,282.95 | 0.21% |
| JPMORGAN CHASE & CO | 91,000 | USD | 7,716,277.80 | 12,464,528.93 | 0.25% |
| MICROSOFT CORP. | 33,538 | USD | 6,055,682.46 | 10,002,005.67 | 0.20% |
| UNITEDHEALTH | 23,100 | USD | 10,196,850.84 | 11,000,509.09 | 0.22% |
| Total U.S. DOLLAR |  |  | 100,952,373.03 | 126,485,073.46 | 2.57% |
| Total Shares & Related Securities |  |  | 274,376,340.23 | 310,810,575.39 | 6.32% |
| Bonds |  |  |  |  |  |
| ABN AMRO 4,25 22-30 | 8,900,000 | EUR | 8,895,550.00 | 8,715,992.50 | 0.18% |
| AEDIFICA 0,75 21-090931 | 4,000,000 | EUR | 3,995,000.00 | 2,862,360.00 | 0.06% |
| ANHEUSER BUSCH INBEV 1,125 19-010727 | 9,000,000 | EUR | 9,023,171.06 | 8,202,105.00 | 0.17% |

|  |
| --- |
| Medium |
|  |
| Investment | Quantity | CCY | Cost (in EUR) | Evaluation value (in EUR) | % Total Net Assets |
|  |
| ARGAN 1,011 21-171126 | 9,000,000 | EUR | 9,046,200.00 | 7,838,235.00 | 0.16% |
| ARGENTA SPAARBANK 1,00 20-290127 | 7,000,000 | EUR | 6,967,100.00 | 6,213,585.00 | 0.13% |
| AROUNDTOWN S.A. 0,00 20-160726 | 3,700,000 | EUR | 3,635,157.50 | 2,992,282.50 | 0.06% |
| BANK AMER FRN 21-28 | 5,000,000 | EUR | 4,287,500.00 | 4,317,850.00 | 0.09% |
| BANK OF AMERICA FRN 22-271026 | 5,000,000 | EUR | 4,732,500.00 | 4,762,900.00 | 0.10% |
| BECTON DICKINSON 1,208 19-040626 | 2,600,000 | EUR | 2,600,000.00 | 2,422,030.00 | 0.05% |
| BELGIUM OLO 0,10 20-220630 | 15,000,000 | EUR | 14,760,150.00 | 12,197,175.00 | 0.25% |
| BLACKROCK INC. 1,25 15-060525 | 6,609,000 | EUR | 7,132,168.44 | 6,308,587.91 | 0.13% |
| BNP PARIBAS S.A. FRN 19-230127 | 11,000,000 | EUR | 10,375,255.00 | 10,398,520.00 | 0.21% |
| BUNDESREP 1,80 22-53 | 20,000,000 | EUR | 17,408,400.00 | 15,204,200.00 | 0.31% |
| BUONI POLIENNALI 0,50 21-150728 | 23,000,000 | EUR | 23,124,453.00 | 19,424,305.00 | 0.40% |
| BUREAU VERITAS 1,125 19-180127 | 4,500,000 | EUR | 4,597,049.00 | 4,058,527.50 | 0.08% |
| CITIGROUP INC. 0,75 16-261023 | 5,000,000 | EUR | 5,006,650.00 | 4,989,850.00 | 0.10% |
| COFINIMMO -SICAFI- 2,00 16-091224 | 1,500,000 | EUR | 1,499,115.00 | 1,453,215.00 | 0.03% |
| COOP RAB 4,00 23-30 | 9,500,000 | EUR | 9,375,930.00 | 9,281,262.50 | 0.19% |
| COOP RABO FRN 23-29 | 3,000,000 | EUR | 3,000,000.00 | 2,962,575.00 | 0.06% |
| DH EUROPE FINANCE 0,45 19-180328 | 12,000,000 | EUR | 11,989,600.00 | 10,338,300.00 | 0.21% |
| EUROPEAN INVESTMENT BANK 5,625 99-150228 | 34,622,000 | EUR | 40,138,038.18 | 37,797,529.84 | 0.77% |
| FLUXYS BELGIUM 2,75 14-271129 | 8,000,000 | EUR | 7,624,000.00 | 7,092,520.00 | 0.14% |
| FRANCE GOVT 0,00 18-251129 | 5,000,000 | EUR | 4,912,950.00 | 4,127,825.00 | 0.08% |
| FRANCE OAT 1,00 16-250527 | 4,700,000 | EUR | 5,152,469.00 | 4,354,291.50 | 0.09% |
| GERMANY 1,70 22-150832 | 36,000,000 | EUR | 33,856,640.00 | 32,968,260.00 | 0.67% |
| GERMANY 2,30 23-33 | 57,000,000 | EUR | 55,938,660.00 | 54,627,660.00 | 1.11% |
| GIMV N.V.N.V. 2,25 21-150329 | 3,400,000 | EUR | 3,400,000.00 | 2,998,409.00 | 0.06% |
| GROUPE BRUX LAMBERT 1,375 17-230524 | 2,600,000 | EUR | 2,631,949.17 | 2,554,396.00 | 0.05% |
| GROUPE BRUX LAMBERT 1,875 18-190625 | 5,000,000 | EUR | 5,082,000.00 | 4,819,100.00 | 0.10% |
| GRP BRUXLL LAMBERT 3,125 22-060929 | 4,000,000 | EUR | 3,973,560.00 | 3,833,300.00 | 0.08% |
| ING GRP 1,375 17-28 | 5,800,000 | EUR | 5,141,526.00 | 5,217,999.00 | 0.11% |
| INTERNATIONAL BANK FOR RECONSTRUCTION & DEVELOPMENT 0,01 20-240428 | 18,000,000 | EUR | 17,962,560.00 | 15,486,030.00 | 0.32% |
| ITALY BTP 0,95 21-010337 | 15,000,000 | EUR | 15,049,350.00 | 9,297,225.00 | 0.19% |
| ITALY BTP 3,00 19-010829 | 33,500,000 | EUR | 39,498,584.05 | 31,353,822.50 | 0.64% |
| ITALY BTP 3,35 18-010335 | 8,500,000 | EUR | 10,423,346.50 | 7,406,177.50 | 0.15% |
| JP MORGAN CHASE & CO FRN 17-180528 | 5,400,000 | EUR | 4,906,980.00 | 4,918,914.00 | 0.10% |
| KBC GROUP 0,75 21-310531 | 5,000,000 | EUR | 4,997,500.00 | 3,902,575.00 | 0.08% |
| KFW 0,05 19-34 | 22,000,000 | EUR | 15,718,362.00 | 15,219,600.00 | 0.31% |
| KFW 0,125 22-090132 | 12,000,000 | EUR | 9,902,760.00 | 9,228,180.00 | 0.19% |
| KINEPOLIS GROUP 2,40 17-151225 | 2,500,000 | EUR | 2,500,000.00 | 2,228,787.50 | 0.05% |
| LA LORRAINE BAKERY 3,00 20-151227 | 2,500,000 | EUR | 2,521,875.00 | 2,323,512.50 | 0.05% |
| LA POSTE 0,625 20-211026 | 8,000,000 | EUR | 7,987,132.56 | 7,232,400.00 | 0.15% |
| PORTUGAL 2,875 15-151025 | 29,500,000 | EUR | 31,000,605.00 | 29,316,805.00 | 0.60% |
| SOFINA 1,00 21-230928 | 12,300,000 | EUR | 12,197,728.00 | 9,637,788.00 | 0.20% |
| SPAIN KINGDOM 1,60 15-300425 | 250,000 | EUR | 258,283.75 | 242,476.25 | 0.00% |
| SPAIN KINGDOM 1,85 19-300735 | 20,000,000 | EUR | 21,880,865.40 | 15,966,000.00 | 0.32% |
| SPAIN KINGDOM 1,95 16-300426 | 55,900,000 | EUR | 61,053,980.00 | 53,836,451.50 | 1.10% |
| SPAIN KINGDOM -INFLATION LINKED- 0,65 16-301127 | 12,000,000 | EUR | 12,426,810.22 | 14,375,322.12 | 0.29% |
| SPAIN KINGDOM -INFLATION LINKED- 1,00 15-301130 | 8,000,000 | EUR | 10,024,560.16 | 9,561,926.45 | 0.19% |
| SYMRISE 1,25 19-291125 | 8,400,000 | EUR | 8,347,891.80 | 7,908,936.00 | 0.16% |
| THERMO FISHER SCIENTIFIC 0,50 19-010328 | 10,000,000 | EUR | 9,868,000.00 | 8,642,550.00 | 0.18% |
| TMVOLKSWAGEN 4,70 13-111228 | 4,000,000 | EUR | 3,989,440.00 | 3,966,040.00 | 0.08% |
| TOYOTA MOTOR CREDIT 0,25 20-160726 | 5,000,000 | EUR | 4,988,450.00 | 4,523,075.00 | 0.09% |

|  |
| --- |
| Medium |
|  |
| Investment | Quantity | CCY | Cost (in EUR) | Evaluation value (in EUR) | % Total Net Assets |
|  |
| UBS GRP FRN 23-31 | 5,000,000 | EUR | 4,981,700.00 | 4,838,525.00 | 0.10% |
| UCB 1,00 21-300328 | 2,900,000 | EUR | 2,892,779.00 | 2,475,730.00 | 0.05% |
| VERIZON COMMUNICATIONS INC. 0,875 19-080427 | 4,400,000 | EUR | 4,383,764.00 | 3,950,210.00 | 0.08% |
| VERIZON COMMUNICATIONS INC.1,30 20-180533 | 10,000,000 | EUR | 10,394,500.00 | 7,613,200.00 | 0.15% |
| VGP N.V. 1,50 21-080429 | 8,900,000 | EUR | 8,845,900.50 | 6,638,243.00 | 0.14% |
| VINCI S.A. 0,00 20-271128 | 2,500,000 | EUR | 2,511,825.00 | 2,077,850.00 | 0.04% |
| Total EURO |  |  | 670,818,274.29 | 599,503,500.57 | 12.20% |
| UK TREAS 3,25 23-33 | 10,000,000 | GBP | 10,496,665.90 | 10,493,025.13 | 0.21% |
| Total BRITISH POUND |  |  | 10,496,665.90 | 10,493,025.13 | 0.21% |
| AMAZON 3,00 22-25 | 5,500,000 | USD | 4,941,972.03 | 5,020,337.66 | 0.10% |
| APPLE INC 0,70 21-26 | 11,000,000 | USD | 9,736,314.83 | 9,364,155.84 | 0.19% |
| DELHAIZE AMERICA 9,00 01-150431 | 1,848,000 | USD | 2,079,854.46 | 2,002,560.00 | 0.04% |
| JPMORGAN FRN 20-26 | 8,500,000 | USD | 7,586,269.49 | 7,537,924.44 | 0.15% |
| US TREASURY 0,625 20-150530 | 45,000,000 | USD | 37,443,076.23 | 32,903,261.30 | 0.67% |
| US TREASURY 0,875 22-310124 | 10,000,000 | USD | 8,858,295.87 | 9,304,161.79 | 0.19% |
| US TREASURY 1,125 20-150540 | 108,000,000 | USD | 73,621,692.94 | 58,685,950.41 | 1.19% |
| US TREASURY 1,125 21-150231 | 30,000,000 | USD | 23,540,862.68 | 22,358,323.50 | 0.45% |
| US TREASURY 1,125 21-310828 | 84,000,000 | USD | 71,081,761.89 | 67,196,280.59 | 1.37% |
| US TREASURY 2,25 17-150227 | 52,000,000 | USD | 46,789,655.49 | 45,340,761.39 | 0.92% |
| US TREASURY 2,75 22-150832 | 24,025,000 | USD | 21,241,223.88 | 19,656,818.18 | 0.40% |
| US TREASURY 2,875 18-310725 | 26,500,000 | USD | 23,941,841.49 | 24,052,778.13 | 0.49% |
| US TREASURY 3,00 22-150852 | 24,000,000 | USD | 21,984,355.66 | 16,526,564.34 | 0.34% |
| US TREASURY NOTES 1,75 19-151129 | 73,000,000 | USD | 64,778,806.06 | 58,758,536.01 | 1.20% |
| Total U.S. DOLLAR |  |  | 417,625,983.00 | 378,708,413.58 | 7.71% |
| Total Bonds |  |  | 1,098,940,923.19 | 988,704,939.28 | 20.12% |
| Total Transferable securities admitted to an official stock exchange or dealt in on another regulated market |  |  | 1,373,317,263.42 | 1,299,515,514.67 | 26.44% |
| Investment funds |  |  |  |  |  |
| DPAM -B- BONDS EUR -J- | 11,607 | EUR | 299,942,950.67 | 271,645,469.13 | 5.53% |
| DPAM -B- EQUIT. JAPAN J | 1,600 | EUR | 40,000,000.00 | 40,765,680.00 | 0.83% |
| DPAM -B- EQUIT. DRAGONS SUSTAINABLE -J- | 3,488 | EUR | 86,114,729.10 | 65,018,936.00 | 1.32% |
| DPAM -B- EQUIT. EUROLAND -J- | 609 | EUR | 15,431,509.92 | 22,475,823.72 | 0.46% |
| DPAM -B- EQUIT. EUROPE DIVIDEND -J- | 2,301 | EUR | 60,507,956.74 | 70,738,909.80 | 1.44% |
| DPAM -B- EQUIT. EUROPE SUSTAINABLE -J- | 6,277 | EUR | 207,336,852.22 | 238,915,236.77 | 4.86% |
| DPAM -B- EQUIT. EUR SMALL CAPS SUSTAINABLE -J- | 858 | EUR | 22,632,992.92 | 24,570,333.74 | 0.50% |
| DPAM -B- EQUIT. NEWGEMS SUSTAINABLE -J- | 1,335 | EUR | 35,008,156.74 | 41,377,977.90 | 0.84% |
| DPAM -B- EQUIT. US BEHAVIORAL VALUE -J- | 6,045 | EUR | 160,656,963.26 | 244,802,890.74 | 4.98% |
| DPAM -B- EQUIT. US ESG LEADER INDEX -J- | 3,106 | EUR | 294,905,036.62 | 441,222,488.34 | 8.98% |
| DPAM -B- EQUIT. WORLD SUSTAINABLE -J- | 4,016 | EUR | 128,278,764.87 | 182,464,152.86 | 3.71% |
| DPAM -B- REAL ESTATE EUROPE SUSTAINABLE -J- | 2,262 | EUR | 59,942,978.86 | 48,863,738.78 | 0.99% |
| DPAM CAP -B- EQUIT. US DIVIDENDE SUSTAINABLE -J- -CAP- | 1,495 | EUR | 67,595,436.20 | 70,843,759.35 | 1.44% |
| DPAM CAPITAL B EQUITIES EUROPE INDEX -J- | 5,300 | EUR | 182,862,893.50 | 180,227,295.00 | 3.67% |
| DPAM EQUITIES L EUR BEHAVIORAL VALUE J -CAP- | 4,374 | EUR | 108,287,444.40 | 108,547,545.96 | 2.21% |
| DPAM L BDS EMCS J | 410 | EUR | 10,250,000.00 | 10,473,425.40 | 0.21% |

|  |
| --- |
| Medium |
|  |
| Investment | Quantity | CCY | Cost (in EUR) | Evaluation value (in EUR) | % Total Net Assets |
|  |
| DPAM L BONDS CLIMATE TRENDS SUSTAINABLE -J- | 4,607 | EUR | 115,650,463.48 | 101,011,193.13 | 2.06% |
| DPAM L BONDS CORP. HIGH YIELD -J- -CAP- | 732 | EUR | 18,738,732.26 | 20,029,664.76 | 0.41% |
| DPAM L BONDS EMERGING MARKETS SUSTAINABLE -J- -CAP- | 4,913 | EUR | 129,187,543.61 | 143,358,449.82 | 2.92% |
| DPAM L BONDS EUR HIGH YIELD SHORT-TERM -J- -CAP- | 2,035 | EUR | 50,889,806.79 | 52,233,830.55 | 1.06% |
| DPAM L BONDS EUR QUALITY -J- -CAP- | 7,696 | EUR | 191,326,003.14 | 177,286,136.86 | 3.61% |
| DPAM L BONDS GOVERNMENTT SUSTAINABLE -J- -CAP- | 2,500 | EUR | 60,234,604.00 | 55,601,000.00 | 1.13% |
| DPAM L BONDS GOVT GLOBAL -J- -CAP- | 2,190 | EUR | 54,556,173.90 | 52,206,074.10 | 1.06% |
| DPAM L BONDS GOVT SUSTAINABLE -J- -CAP- | 1,838 | EUR | 45,950,000.00 | 37,520,821.72 | 0.76% |
| DPAM L BONDS UNIV UNCONST -J- -CAP- | 6,429 | EUR | 171,435,039.43 | 165,352,116.21 | 3.36% |
| DPAML EQUIT. EMERGING MARKETS ESG LEAD INDEX -J- -CAP- | 8,638 | EUR | 211,589,806.79 | 172,468,813.02 | 3.51% |
| DPWM STRATEGIES ACTIONS SI | 290 | EUR | 30,916,166.42 | 31,190,486.00 | 0.63% |
| OSTRUM SRI MONEY PLUS -I- -CAP- | 58 | EUR | 5,958,844.94 | 6,081,794.16 | 0.12% |
| SELECT EQUIT. EMERGING MLTI MGMT -Z- EUR | 1,657 | EUR | 150,362,997.29 | 161,660,378.35 | 3.29% |
| SELECT EQUIT. JAPAN MULTI MANAGMENT -Z- -CAP- | 339 | EUR | 48,593,654.24 | 68,946,121.71 | 1.40% |
| Total EURO |  |  | 3,065,144,502.31 | 3,307,900,543.88 | 67.31% |
| ALLIANZ GLOBAL INVESTMENT FUND CHINA -A- -CAP- | 24,983 | USD | 30,557,614.56 | 25,187,925.26 | 0.51% |
| BROWN ADV US SUST GR | 2,489,420 | USD | 33,156,784.04 | 33,176,591.45 | 0.68% |
| ISHARES MSCI CHINA -A- -CAP- UCITS ETF | 1,151,500 | USD | 5,123,721.37 | 4,670,168.60 | 0.10% |
| ISHARES SP 500 ENERGY SECTOR UCITS | 2,002,235 | USD | 13,471,847.09 | 16,861,797.23 | 0.34% |
| MORGAN STANLEY INVESTMENT US GROWTH FUND Z | 273,524 | USD | 33,422,189.85 | 26,426,229.01 | 0.54% |
| NEUBERGER BERMAN US SMALL I3 -CAP- | 1,840 | USD | 24,931,239.51 | 24,951,355.84 | 0.51% |
| POLEN CAPITAL FOCUS U.S.GROWTH US -DIS- | 2,088,080 | USD | 26,038,253.60 | 29,188,745.22 | 0.59% |
| Total U.S. DOLLAR |  |  | 166,701,650.02 | 160,462,812.61 | 3.27% |
| Total Investment funds |  |  | 3,231,846,152.33 | 3,468,363,356.49 | 70.57% |
| Other Transferable Securities |  |  |  |  |  |
| 3I EUROPARTNERS V -B- PE | 55,532 | EUR | 2,181.33 | 55,532.29 | 0.00% |
| ATLANTIC CERTIFICATES -REG- | 20 | EUR | 701,835.00 | 619,072.00 | 0.01% |
| CARLYLE EUROPE PARTNER III PE | 115,477 | EUR | 6,143.22 | 115,476.68 | 0.00% |
| DEGROOF ALTERNATIVE FOHF LOW VOLATILITY -A- -LIQUIDATION- | 58,200 | EUR | 1,451,220.46 | 274,122.00 | 0.01% |
| DEGROOF ALTERNATIVE FOHF LOW VOLATILITY -B- -LIQUIDATION- | 365,000 | EUR | 0.00 | 0.00 | 0.00% |
| DEGROOF PRIVATE - RENEWABLE ENERGY II -B- -REG- | 5 | EUR | 5,281.00 | 28,609.87 | 0.00% |
| SIGMA FINANCE CORP. CAPITAL FRN 07-300414 | 10,000,000 | EUR | 7,500,000.00 | 0.00 | 0.00% |
| Total EURO |  |  | 9,666,661.01 | 1,092,812.84 | 0.02% |
| CARLYLE US PARTNERS V PE | 631,844 | USD | 13,582.08 | 596,782.69 | 0.01% |
| INVESCO PHYSICAL GOLD ETC | 116,470 | USD | 18,111,079.99 | 19,692,368.08 | 0.40% |
| NORTEL NETWORKS CORP. -FAILLITE- | 7,300 | USD | 1,592,630.97 | 0.00 | 0.00% |
| WISDOMTREE PHYSICAL SWISS GOLD 09-PERPETUAL | 120,992 | USD | 16,595,517.78 | 20,346,654.68 | 0.41% |
| Total U.S. DOLLAR |  |  | 36,312,810.82 | 40,635,805.45 | 0.83% |
| Total Other Transferable Securities |  |  | 45,979,471.83 | 41,728,618.29 | 0.85% |
| Total Portfolio |  |  | 4,651,142,887.58 | 4,809,607,489.45 | 97.87% |

|  |
| --- |
| High |
|  |
| Investment | Quantity | CCY | Cost (in EUR) | Evaluation value (in EUR) | % Total Net Assets |
|  |
| Transferable securities admitted to an official stock exchange or dealt in on another regulated market |  |  |  |  |  |
| Shares & Related Securities |  |  |  |  |  |
| NESTLE SA-REG | 60,895 | CHF | 4,684,276.43 | 6,522,376.03 | 0.51% |
| ROCHE HOLDING AG-GENUSSCHEIN | 33,508 | CHF | 10,643,737.35 | 8,664,579.63 | 0.67% |
| Total SWISS FRANC |  |  | 15,328,013.78 | 15,186,955.66 | 1.18% |
| AIR LIQUIDE | 35,807 | EUR | 3,030,282.18 | 5,723,390.88 | 0.45% |
| ANHEUSER-BUSCH INBEV | 90,000 | EUR | 4,585,599.81 | 4,725,900.00 | 0.37% |
| ASML HOLDING NV | 9,155 | EUR | 6,002,288.87 | 5,118,560.50 | 0.40% |
| BNP PARIBAS S.A. | 47,660 | EUR | 2,619,791.66 | 2,880,093.80 | 0.22% |
| ENEL AZ | 999,660 | EUR | 7,438,507.98 | 5,818,021.20 | 0.45% |
| KBC GROUP S.A. | 67,683 | EUR | 4,771,177.32 | 4,002,772.62 | 0.31% |
| LVMH MOET HENNESSY LOUIS VUI | 8,120 | EUR | 4,458,124.41 | 5,817,168.00 | 0.45% |
| SOLVAY & CIE | 19,103 | EUR | 1,589,634.73 | 2,002,949.55 | 0.16% |
| TOTAL ENERGIES SE | 151,900 | EUR | 6,776,658.61 | 9,464,889.00 | 0.74% |
| Total EURO |  |  | 41,272,065.57 | 45,553,745.55 | 3.54% |
| ASTRAZENECA PLC | 11,471 | GBP | 842,316.22 | 1,468,192.78 | 0.11% |
| DIAGEO PLC | 97,001 | GBP | 3,997,109.85 | 3,392,910.24 | 0.26% |
| Total BRITISH POUND |  |  | 4,839,426.07 | 4,861,103.02 | 0.38% |
| ASSA ABLOY AB -B- | 75,000 | SEK | 1,195,561.32 | 1,553,140.62 | 0.12% |
| Total SWEDISH KRONA |  |  | 1,195,561.32 | 1,553,140.62 | 0.12% |
| ABBOTT LABORATORIES | 61,200 | USD | 6,027,048.97 | 5,598,318.77 | 0.44% |
| ALPHABET INC. -C- | 48,880 | USD | 2,295,117.40 | 6,087,204.72 | 0.47% |
| AMAZON.COM INC. | 111,888 | USD | 11,241,698.27 | 13,433,957.55 | 1.05% |
| APPLE INC. | 28,500 | USD | 4,299,748.25 | 4,608,722.55 | 0.36% |
| BOSTON SCIENTIFIC CORP. | 81,931 | USD | 2,492,785.99 | 4,085,909.61 | 0.32% |
| COMCAST CORP-CLASS A | 54,565 | USD | 1,619,666.60 | 2,285,159.01 | 0.18% |
| JPMORGAN CHASE & CO | 40,200 | USD | 3,893,042.41 | 5,506,308.38 | 0.43% |
| MICROSOFT CORP. | 19,464 | USD | 3,514,456.28 | 5,804,730.11 | 0.45% |
| UNITEDHEALTH | 8,900 | USD | 3,928,657.33 | 4,238,291.38 | 0.33% |
| Total U.S. DOLLAR |  |  | 39,312,221.50 | 51,648,602.08 | 4.02% |
| Total Shares & Related Securities |  |  | 101,947,288.24 | 118,803,546.93 | 9.24% |
| Bonds |  |  |  |  |  |
| BUNDESREP 1,80 22-53 | 2,300,000 | EUR | 2,001,966.00 | 1,748,483.00 | 0.14% |
| GERMANY 1,70 22-150832 | 2,500,000 | EUR | 2,363,900.00 | 2,289,462.50 | 0.18% |
| KFW 0,05 19-34 | 5,500,000 | EUR | 3,929,590.50 | 3,804,900.00 | 0.30% |
| KFW 0,125 22-090132 | 2,500,000 | EUR | 2,063,075.00 | 1,922,537.50 | 0.15% |
| Total EURO |  |  | 10,358,531.50 | 9,765,383.00 | 0.76% |

|  |
| --- |
| High |
|  |
| Investment | Quantity | CCY | Cost (in EUR) | Evaluation value (in EUR) | % Total Net Assets |
|  |
| AMAZON 3,00 22-25 | 1,400,000 | USD | 1,257,956.51 | 1,277,904.14 | 0.10% |
| APPLE INC 0,70 21-26 | 2,800,000 | USD | 2,478,334.68 | 2,383,603.31 | 0.19% |
| DEUT TEL 4,375 18-28 | 2,609,000 | USD | 2,437,317.14 | 2,339,302.71 | 0.18% |
| JPMORGAN FRN 20-26 | 2,000,000 | USD | 1,785,004.59 | 1,773,629.28 | 0.14% |
| US TREASURY 0,625 20-150530 | 2,000,000 | USD | 1,636,577.78 | 1,462,367.17 | 0.11% |
| US TREASURY 1,125 20-150540 | 14,100,000 | USD | 9,519,948.15 | 7,661,776.86 | 0.60% |
| US TREASURY 1,125 21-310828 | 17,400,000 | USD | 14,685,275.50 | 13,919,229.54 | 1.08% |
| US TREASURY 2,25 17-150227 | 10,700,000 | USD | 9,628,055.13 | 9,329,733.60 | 0.73% |
| US TREASURY 2,75 22-150832 | 990,000 | USD | 952,521.11 | 810,000.00 | 0.06% |
| US TREASURY 2,875 18-310725 | 2,500,000 | USD | 2,262,862.04 | 2,269,130.01 | 0.18% |
| US TREASURY 3,00 22-150852 | 2,500,000 | USD | 2,322,802.42 | 1,721,517.12 | 0.13% |
| US TREASURY NOTES 1,75 19-151129 | 5,500,000 | USD | 4,889,429.38 | 4,427,012.98 | 0.34% |
| Total U.S. DOLLAR |  |  | 53,856,084.43 | 49,375,206.72 | 3.84% |
| Total Bonds |  |  | 64,214,615.93 | 59,140,589.72 | 4.60% |
| Total Transferable securities admitted to an official stock exchange or dealt in on another regulated market |  |  | 166,161,904.17 | 177,944,136.65 | 13.85% |
| Investment funds |  |  |  |  |  |
| DPAM -B- BONDS EUR -J- | 771 | EUR | 19,582,622.11 | 18,044,167.89 | 1.40% |
| DPAM -B- EQUIT. JAPAN J | 620 | EUR | 15,500,000.00 | 15,796,701.00 | 1.23% |
| DPAM -B- EQUIT. DRAGONS SUSTAINABLE -J- | 1,068 | EUR | 25,922,674.18 | 19,908,321.00 | 1.55% |
| DPAM -B- EQUIT. EUROLAND -J- | 272 | EUR | 6,957,373.07 | 10,029,481.10 | 0.78% |
| DPAM -B- EQUIT. EUROPE DIVIDEND -J- | 997 | EUR | 26,044,817.99 | 30,636,787.44 | 2.38% |
| DPAM -B- EQUIT. EUROPE SUSTAINABLE -J- | 2,716 | EUR | 91,205,523.09 | 103,376,419.16 | 8.04% |
| DPAM -B- EQUIT. EUR SMALL CAPS SUSTAINABLE -J- | 459 | EUR | 12,467,083.69 | 13,165,280.99 | 1.02% |
| DPAM -B- EQUIT. NEWGEMS SUSTAINABLE -J- | 398 | EUR | 10,383,137.06 | 12,335,906.52 | 0.96% |
| DPAM -B- EQUIT. US BEHAVIORAL VALUE -J- | 2,138 | EUR | 56,629,457.57 | 86,570,879.37 | 6.74% |
| DPAM -B- EQUIT. US ESG LEADER INDEX -J- | 1,246 | EUR | 118,537,494.41 | 177,000,392.94 | 13.77% |
| DPAM -B- EQUIT. WORLD SUSTAINABLE -J- | 1,050 | EUR | 34,629,163.73 | 47,696,219.27 | 3.71% |
| DPAM -B- REAL ESTATE EUROPE SUSTAINABLE -J- | 607 | EUR | 15,654,626.97 | 13,100,276.52 | 1.02% |
| DPAM CAP -B- EQUIT. US DIVIDENDE SUSTAINABLE -J- -CAP- | 628 | EUR | 28,390,501.22 | 29,759,117.64 | 2.32% |
| DPAM CAPITAL B EQUITIES EUROPE INDEX -J- | 2,211 | EUR | 76,298,552.28 | 75,185,386.65 | 5.85% |
| DPAM EQUITIES L EUR BEHAVIORAL VALUE J -CAP- | 1,887 | EUR | 46,685,256.34 | 46,828,810.98 | 3.64% |
| DPAM L BDS EMCS J | 53 | EUR | 1,325,000.00 | 1,353,881.82 | 0.11% |
| DPAM L BONDS CLIMATE TRENDS SUSTAINABLE -J- | 468 | EUR | 11,039,661.03 | 10,261,176.12 | 0.80% |
| DPAM L BONDS CORP. HIGH YIELD -J- -CAP- | 248 | EUR | 6,490,369.08 | 6,786,006.64 | 0.53% |
| DPAM L BONDS EMERGING MARKETS SUSTAINABLE -J- -CAP- | 1,312 | EUR | 34,259,163.73 | 38,289,997.02 | 2.98% |
| DPAM L BONDS EUR HIGH YIELD SHORT-TERM -J- -CAP- | 387 | EUR | 9,642,566.05 | 9,929,407.34 | 0.77% |
| DPAM L BONDS EUR QUALITY -J- -CAP- | 472 | EUR | 11,670,493.62 | 10,882,602.63 | 0.85% |
| DPAM L BONDS GOVT SUSTAINABLE -J- -CAP- | 590 | EUR | 14,503,903.90 | 12,044,224.60 | 0.94% |
| DPAM L BONDS UNIV UNCONST -J- -CAP- | 743 | EUR | 20,165,791.62 | 19,121,615.70 | 1.49% |
| DPAML EQUIT. EMERGING MARKETS ESG LEAD INDEX -J- -CAP- | 2,603 | EUR | 63,870,999.65 | 51,972,252.87 | 4.04% |
| DPWM STRATEGIES ACTIONS SI | 125 | EUR | 13,325,704.75 | 13,444,175.00 | 1.05% |
| SELECT EQUIT. EMERGING MLTI MGMT -Z- EUR | 860 | EUR | 78,162,500.94 | 83,890,071.40 | 6.53% |
| SELECT EQUIT. JAPAN MULTI MANAGMENT -Z- -CAP- | 178 | EUR | 25,177,056.19 | 36,201,798.42 | 2.82% |
| Total EURO |  |  | 874,521,494.27 | 993,611,358.03 | 77.31% |
| ALLIANZ GLOBAL INVESTMENT FUND CHINA -A- -CAP- | 10,496 | USD | 13,069,135.93 | 10,581,749.05 | 0.82% |

|  |
| --- |
| High |
|  |
| Investment | Quantity | CCY | Cost (in EUR) | Evaluation value (in EUR) | % Total Net Assets |
|  |
| BROWN ADV US SUST GR | 1,153,335 | USD | 15,365,789.91 | 15,370,537.76 | 1.20% |
| ISHARES MSCI CHINA -A- -CAP- UCITS ETF | 591,000 | USD | 2,629,717.17 | 2,396,934.12 | 0.19% |
| ISHARES SP 500 ENERGY SECTOR UCITS | 765,015 | USD | 5,139,982.28 | 6,442,564.34 | 0.50% |
| MORGAN STANLEY INVESTMENT US GROWTH FUND Z | 118,634 | USD | 14,407,677.62 | 11,461,697.15 | 0.89% |
| NEUBERGER BERMAN US SMALL I3 -CAP- | 1,016 | USD | 13,581,582.20 | 13,777,487.79 | 1.07% |
| POLEN CAPITAL FOCUS U.S.GROWTH US -DIS- | 1,199,795 | USD | 14,876,055.90 | 16,771,632.59 | 1.30% |
| Total U.S. DOLLAR |  |  | 79,069,941.01 | 76,802,602.80 | 5.98% |
| Total Investment funds |  |  | 953,591,435.28 | 1,070,413,960.83 | 83.29% |
| Other Transferable Securities |  |  |  |  |  |
| 3I EUROPARTNERS V -B- PE | 11,855 | EUR | 430.86 | 11,855.21 | 0.00% |
| CARLYLE EUROPE PARTNER III PE | 27,350 | EUR | 1,553.49 | 27,349.74 | 0.00% |
| DEGROOF ALTERNATIVE FOHF LOW VOLATILITY -A- -LIQUIDATION- | 6,400 | EUR | 160,850.62 | 30,144.00 | 0.00% |
| DEGROOF ALTERNATIVE FOHF LOW VOLATILITY -B- -LIQUIDATION- | 60,000 | EUR | 0.00 | 0.00 | 0.00% |
| DEGROOF PRIVATE - RENEWABLE ENERGY II -B- -REG- | 1 | EUR | 1,251.00 | 6,777.31 | 0.00% |
| Total EURO |  |  | 164,085.97 | 76,126.26 | 0.01% |
| CARLYLE US PARTNERS V PE | 149,647 | USD | 3,726.74 | 141,343.27 | 0.01% |
| INVESCO PHYSICAL GOLD ETC | 30,244 | USD | 4,656,253.94 | 5,113,556.97 | 0.40% |
| NORTEL NETWORKS CORP. -FAILLITE- | 850 | USD | 267,432.15 | 0.00 | 0.00% |
| WISDOMTREE PHYSICAL SWISS GOLD 09-PERPETUAL | 36,733 | USD | 5,056,667.74 | 6,177,215.57 | 0.48% |
| Total U.S. DOLLAR |  |  | 9,984,080.57 | 11,432,115.81 | 0.89% |
| Total Other Transferable Securities |  |  | 10,148,166.54 | 11,508,242.07 | 0.90% |
| Total Portfolio |  |  | 1,129,901,505.99 | 1,259,866,339.55 | 98.03% |

|  |
| --- |
| Medium Low |
|  |
| Investment | Quantity | CCY | Cost (in EUR) | Evaluation value (in EUR) | % Total Net Assets |
|  |
| Transferable securities admitted to an official stock exchange or dealt in on another regulated market |  |  |  |  |  |
| Shares & Related Securities |  |  |  |  |  |
| NESTLE SA-REG | 26,303 | CHF | 2,127,597.46 | 2,817,276.57 | 0.25% |
| ROCHE HOLDING AG-GENUSSCHEIN | 18,684 | CHF | 5,855,482.15 | 4,831,353.88 | 0.43% |
| Total SWISS FRANC |  |  | 7,983,079.61 | 7,648,630.45 | 0.69% |
| AIR LIQUIDE | 17,083 | EUR | 1,449,366.90 | 2,730,546.72 | 0.25% |
| ANHEUSER-BUSCH INBEV | 41,000 | EUR | 2,088,995.95 | 2,152,910.00 | 0.19% |
| ASML HOLDING NV | 3,890 | EUR | 2,551,563.10 | 2,174,899.00 | 0.20% |
| BNP PARIBAS S.A. | 20,715 | EUR | 1,138,669.54 | 1,251,807.45 | 0.11% |
| ENEL AZ | 513,260 | EUR | 3,824,136.43 | 2,987,173.20 | 0.27% |
| KBC GROUP S.A. | 30,160 | EUR | 2,100,283.31 | 1,783,662.40 | 0.16% |
| LVMH MOET HENNESSY LOUIS VUI | 3,600 | EUR | 1,842,829.82 | 2,579,040.00 | 0.23% |
| SOLVAY & CIE | 11,418 | EUR | 950,136.37 | 1,197,177.30 | 0.11% |
| TOTAL ENERGIES SE | 72,500 | EUR | 3,399,132.59 | 4,517,475.00 | 0.41% |
| Total EURO |  |  | 19,345,114.01 | 21,374,691.07 | 1.92% |
| ASTRAZENECA PLC | 9,900 | GBP | 726,967.04 | 1,267,117.82 | 0.11% |
| DIAGEO PLC | 45,948 | GBP | 1,893,082.75 | 1,607,173.53 | 0.14% |
| Total BRITISH POUND |  |  | 2,620,049.79 | 2,874,291.35 | 0.26% |
| ASSA ABLOY AB -B- | 27,000 | SEK | 429,647.38 | 559,130.62 | 0.05% |
| Total SWEDISH KRONA |  |  | 429,647.38 | 559,130.62 | 0.05% |
| ABBOTT LABORATORIES | 26,535 | USD | 2,616,353.72 | 2,427,310.27 | 0.22% |
| ALPHABET INC. -C- | 16,300 | USD | 765,195.39 | 2,029,898.47 | 0.18% |
| AMAZON.COM INC. | 44,065 | USD | 5,105,267.97 | 5,290,713.39 | 0.48% |
| APPLE INC. | 14,000 | USD | 2,112,158.50 | 2,263,933.88 | 0.20% |
| BOSTON SCIENTIFIC CORP. | 48,981 | USD | 1,490,268.16 | 2,442,688.83 | 0.22% |
| COMCAST CORP-CLASS A | 27,386 | USD | 812,417.75 | 1,146,914.04 | 0.10% |
| JPMORGAN CHASE & CO | 17,600 | USD | 1,492,379.48 | 2,410,722.08 | 0.22% |
| MICROSOFT CORP. | 6,113 | USD | 1,103,774.89 | 1,823,074.14 | 0.16% |
| UNITEDHEALTH | 3,900 | USD | 1,721,543.78 | 1,857,228.81 | 0.17% |
| Total U.S. DOLLAR |  |  | 17,219,359.64 | 21,692,483.91 | 1.95% |
| Total Shares & Related Securities |  |  | 47,597,250.43 | 54,149,227.40 | 4.87% |
| Bonds |  |  |  |  |  |
| ABN AMRO 4,25 22-30 | 1,500,000 | EUR | 1,499,250.00 | 1,468,987.50 | 0.13% |
| ABN AMRO BANK 0,875 19-150124 | 1,500,000 | EUR | 1,491,195.00 | 1,486,687.50 | 0.13% |
| AEDIFICA 0,75 21-090931 | 1,300,000 | EUR | 1,298,375.00 | 930,267.00 | 0.08% |
| AHOLD DELHAIZE N.V. 0,875 17-190924 | 2,000,000 | EUR | 2,091,760.00 | 1,942,440.00 | 0.17% |
| AMERICAN MEDICAL 1,875 22-080334 | 2,500,000 | EUR | 2,044,625.00 | 1,983,712.50 | 0.18% |
| ANHEUSER BUSCH INBEV 1,125 19-010727 | 3,500,000 | EUR | 3,508,055.39 | 3,189,707.50 | 0.29% |

|  |
| --- |
| Medium Low |
|  |
| Investment | Quantity | CCY | Cost (in EUR) | Evaluation value (in EUR) | % Total Net Assets |
|  |
| ARGAN 1,011 21-171126 | 2,500,000 | EUR | 2,516,500.00 | 2,177,287.50 | 0.20% |
| ARGENTA SPAARBANK 1,00 20-290127 | 2,000,000 | EUR | 1,990,600.00 | 1,775,310.00 | 0.16% |
| AROUNDTOWN S.A. 0,00 20-160726 | 1,500,000 | EUR | 1,473,712.50 | 1,213,087.50 | 0.11% |
| BECTON DICKINSON 1,90 16-151226 | 1,000,000 | EUR | 1,002,600.00 | 937,840.00 | 0.08% |
| BELGIUM OLO 0,10 20-220630 | 3,500,000 | EUR | 3,444,035.00 | 2,846,007.50 | 0.26% |
| BLACKROCK INC. 1,25 15-060525 | 1,600,000 | EUR | 1,726,656.00 | 1,527,272.00 | 0.14% |
| BNP PARIBAS S.A. FRN 19-230127 | 2,500,000 | EUR | 2,358,012.50 | 2,363,300.00 | 0.21% |
| BPCE S.A. 1,00 19-010425 | 1,700,000 | EUR | 1,697,042.00 | 1,619,904.50 | 0.15% |
| BUONI POLIENNALI 0,50 21-150728 | 2,500,000 | EUR | 2,513,527.50 | 2,111,337.50 | 0.19% |
| BUREAU VERITAS 1,125 19-180127 | 500,000 | EUR | 516,500.00 | 450,947.50 | 0.04% |
| CIE SAINT GOBAIN 0,625 19-150324 | 1,200,000 | EUR | 1,195,356.00 | 1,182,054.00 | 0.11% |
| CITIGROUP INC. 0,75 16-261023 | 1,500,000 | EUR | 1,501,995.00 | 1,496,955.00 | 0.13% |
| CLOVERIE PLC ZURICH 1,50 18-151228 | 1,300,000 | EUR | 1,169,961.00 | 1,161,426.50 | 0.10% |
| COFINIMMO -SICAFI- 2,00 16-091224 | 500,000 | EUR | 499,705.00 | 484,405.00 | 0.04% |
| COOP RAB 4,00 23-30 | 3,000,000 | EUR | 2,960,820.00 | 2,930,925.00 | 0.26% |
| COOP RABO FRN 23-29 | 1,500,000 | EUR | 1,500,000.00 | 1,481,287.50 | 0.13% |
| DH EUROPE FINANCE 0,45 19-180328 | 3,500,000 | EUR | 3,431,080.00 | 3,015,337.50 | 0.27% |
| ERG SpA 1,875 19-110425 | 1,700,000 | EUR | 1,797,750.00 | 1,638,630.00 | 0.15% |
| FLUXYS BELGIUM 2,75 14-271129 | 1,700,000 | EUR | 1,620,100.00 | 1,507,160.50 | 0.14% |
| GIMV N.V.N.V. 2,25 21-150329 | 1,200,000 | EUR | 1,200,000.00 | 1,058,262.00 | 0.10% |
| GROUPE BRUX LAMBERT 1,375 17-230524 | 3,300,000 | EUR | 3,346,243.50 | 3,242,118.00 | 0.29% |
| GROUPE BRUX LAMBERT 1,875 18-190625 | 1,500,000 | EUR | 1,524,600.00 | 1,445,730.00 | 0.13% |
| GRP BRUXLL LAMBERT 3,125 22-060929 | 1,500,000 | EUR | 1,490,085.00 | 1,437,487.50 | 0.13% |
| HEINEKEN N.V. 1,00 16-040526 | 1,000,000 | EUR | 1,059,900.00 | 933,955.00 | 0.08% |
| INFRAX CVBA 3,75 13-301023 | 1,400,000 | EUR | 1,480,907.50 | 1,400,161.00 | 0.13% |
| INTERNATIONAL BANK FOR RECONSTRUCTION & DEVELOPMENT 0,01 20-240428 | 2,200,000 | EUR | 2,195,424.00 | 1,892,737.00 | 0.17% |
| ITALY BTP 0,40 16-110424 | 2,550,000 | EUR | 2,575,794.12 | 2,532,055.74 | 0.23% |
| ITALY BTP 0,95 21-010337 | 2,100,000 | EUR | 2,106,909.00 | 1,301,611.50 | 0.12% |
| ITALY BTP 3,00 19-010829 | 9,500,000 | EUR | 11,005,765.20 | 8,891,382.50 | 0.80% |
| ITALY BTP 3,35 18-010335 | 1,950,000 | EUR | 2,397,068.25 | 1,699,064.25 | 0.15% |
| ITALY BTP FRN 16-150528 | 8,700,000 | EUR | 10,284,927.89 | 10,359,919.24 | 0.93% |
| KBC GROUP 0,75 21-310531 | 1,200,000 | EUR | 1,199,400.00 | 936,618.00 | 0.08% |
| KFW 0,125 22-090132 | 2,600,000 | EUR | 2,145,598.00 | 1,999,439.00 | 0.18% |
| LA LORRAINE BAKERY 3,00 20-151227 | 1,900,000 | EUR | 1,916,625.00 | 1,765,869.50 | 0.16% |
| LA POSTE 0,625 20-211026 | 2,500,000 | EUR | 2,495,978.93 | 2,260,125.00 | 0.20% |
| LVMH 0,75 20-070425 | 2,000,000 | EUR | 1,994,340.00 | 1,912,480.00 | 0.17% |
| NN BANK N.V. NETHERLDS 0,50 21-210928 | 2,500,000 | EUR | 2,093,000.00 | 2,086,200.00 | 0.19% |
| PERNOD RICARD 0,50 19-241027 | 1,200,000 | EUR | 1,196,532.00 | 1,061,460.00 | 0.10% |
| PERNOD RICARD 2,125 14-270924 | 1,200,000 | EUR | 1,288,800.00 | 1,178,928.00 | 0.11% |
| PORTUGAL 2,875 15-151025 | 4,000,000 | EUR | 4,295,120.00 | 3,975,160.00 | 0.36% |
| SOFINA 1,00 21-230928 | 3,100,000 | EUR | 3,074,674.00 | 2,429,036.00 | 0.22% |
| SPAIN KINGDOM 1,85 19-300735 | 4,000,000 | EUR | 4,376,173.08 | 3,193,200.00 | 0.29% |
| SPAIN KINGDOM 1,95 16-300426 | 3,100,000 | EUR | 3,385,820.00 | 2,985,563.50 | 0.27% |
| SPAIN KINGDOM -INFLATION LINKED- 1,80 13-301124 | 14,000,000 | EUR | 16,264,482.63 | 17,319,546.13 | 1.56% |
| SYMRISE 1,25 19-291125 | 2,500,000 | EUR | 2,484,878.26 | 2,353,850.00 | 0.21% |
| THERMO FISHER 1,75 20-150427 | 800,000 | EUR | 798,826.14 | 744,320.00 | 0.07% |
| THERMO FISHER SCIENTIFIC 0,50 19-010328 | 2,500,000 | EUR | 2,457,500.00 | 2,160,637.50 | 0.19% |
| TMVOLKSWAGEN 4,70 13-111228 | 750,000 | EUR | 748,020.00 | 743,632.50 | 0.07% |
| TOTAL ENERGIES 1,491 20-080427 | 3,200,000 | EUR | 3,200,000.00 | 2,959,904.00 | 0.27% |
| UBS GRP FRN 23-31 | 1,300,000 | EUR | 1,295,242.00 | 1,258,016.50 | 0.11% |

|  |
| --- |
| Medium Low |
|  |
| Investment | Quantity | CCY | Cost (in EUR) | Evaluation value (in EUR) | % Total Net Assets |
|  |
| UCB 1,00 21-300328 | 1,300,000 | EUR | 1,296,763.00 | 1,109,810.00 | 0.10% |
| VERIZON COMMUNICATIONS INC. 0,875 19-080427 | 2,600,000 | EUR | 2,628,436.20 | 2,334,215.00 | 0.21% |
| VERIZON COMMUNICATIONS INC.1,30 20-180533 | 1,500,000 | EUR | 1,559,175.00 | 1,141,980.00 | 0.10% |
| VGP N.V. 1,50 21-080429 | 1,400,000 | EUR | 1,391,306.70 | 1,044,218.00 | 0.09% |
| VINCI S.A. 0,00 20-271128 | 1,000,000 | EUR | 1,004,730.00 | 831,140.00 | 0.07% |
| Total EURO |  |  | 152,108,258.29 | 138,902,109.36 | 12.49% |
| UK TREAS 3,25 23-33 | 2,200,000 | GBP | 2,309,266.49 | 2,308,465.53 | 0.21% |
| Total BRITISH POUND |  |  | 2,309,266.49 | 2,308,465.53 | 0.21% |
| AMAZON 3,00 22-25 | 1,250,000 | USD | 1,123,175.46 | 1,140,985.83 | 0.10% |
| APPLE INC 0,70 21-26 | 2,400,000 | USD | 2,124,286.88 | 2,043,088.55 | 0.18% |
| DEUT TEL 4,375 18-28 | 2,000,000 | USD | 1,848,181.69 | 1,793,256.20 | 0.16% |
| JPMORGAN FRN 20-26 | 2,000,000 | USD | 1,766,307.90 | 1,773,629.28 | 0.16% |
| US TREASURY 0,625 20-150530 | 4,000,000 | USD | 3,378,076.09 | 2,924,734.33 | 0.26% |
| US TREASURY 1,125 20-150540 | 10,100,000 | USD | 6,210,417.20 | 5,488,223.14 | 0.49% |
| US TREASURY 1,125 21-310828 | 22,300,000 | USD | 18,861,590.82 | 17,839,012.59 | 1.60% |
| US TREASURY 2,25 17-150227 | 20,600,000 | USD | 18,696,718.94 | 17,961,917.02 | 1.62% |
| US TREASURY 2,75 22-150832 | 1,245,000 | USD | 1,197,867.46 | 1,018,636.37 | 0.09% |
| US TREASURY 2,875 18-310725 | 18,500,000 | USD | 16,503,279.10 | 16,791,562.09 | 1.51% |
| US TREASURY 3,00 22-150852 | 3,900,000 | USD | 3,580,673.46 | 2,685,566.70 | 0.24% |
| US TREASURY NOTES 1,75 19-151129 | 3,500,000 | USD | 3,094,438.39 | 2,817,190.08 | 0.25% |
| Total U.S. DOLLAR |  |  | 78,385,013.39 | 74,277,802.18 | 6.68% |
| Total Bonds |  |  | 232,802,538.17 | 215,488,377.07 | 19.38% |
| Total Transferable securities admitted to an official stock exchange or dealt in on another regulated market |  |  | 280,399,788.60 | 269,637,604.47 | 24.25% |
| Investment funds |  |  |  |  |  |
| AMUNDI ULTRA SHORT-TERM BOND SRI -CAP- | 2 | EUR | 16,774,077.09 | 16,917,858.12 | 1.52% |
| DPAM -B- BONDS EUR -J- | 1,330 | EUR | 34,795,962.18 | 31,126,774.70 | 2.80% |
| DPAM -B- BONDS EUR MEDIUM TERM -J- | 1,386 | EUR | 34,985,925.32 | 33,100,576.74 | 2.98% |
| DPAM -B- EQUIT. JAPAN J | 270 | EUR | 6,750,000.00 | 6,879,208.50 | 0.62% |
| DPAM -B- EQUIT. DRAGONS SUSTAINABLE -J- | 567 | EUR | 14,299,731.43 | 10,569,305.25 | 0.95% |
| DPAM -B- EQUIT. EUROPE DIVIDEND -J- | 414 | EUR | 10,901,809.52 | 12,729,431.13 | 1.14% |
| DPAM -B- EQUIT. EUROPE SUSTAINABLE -J- | 1,150 | EUR | 37,196,583.81 | 43,771,311.50 | 3.94% |
| DPAM -B- EQUIT. EUR SMALL CAPS SUSTAINABLE -J- | 160 | EUR | 4,188,699.57 | 4,575,332.76 | 0.41% |
| DPAM -B- EQUIT. NEWGEMS SUSTAINABLE -J- | 291 | EUR | 7,443,885.91 | 9,019,469.34 | 0.81% |
| DPAM -B- EQUIT. US BEHAVIORAL VALUE -J- | 1,006 | EUR | 26,776,195.10 | 40,732,026.28 | 3.66% |
| DPAM -B- EQUIT. US ESG LEADER INDEX -J- | 543 | EUR | 50,658,378.04 | 77,135,805.27 | 6.94% |
| DPAM -B- EQUIT. WORLD SUSTAINABLE -J- | 501 | EUR | 14,732,769.62 | 22,778,893.57 | 2.05% |
| DPAM -B- REAL ESTATE EUROPE SUSTAINABLE -J- | 345 | EUR | 9,252,910.40 | 7,459,642.40 | 0.67% |
| DPAM CAP -B- EQUIT. US DIVIDENDE SUSTAINABLE -J- -CAP- | 266 | EUR | 12,026,771.57 | 12,604,976.58 | 1.13% |
| DPAM CAPITAL B EQUITIES EUROPE INDEX -J- | 1,012 | EUR | 34,929,141.68 | 34,413,211.80 | 3.09% |
| DPAM EQUITIES L EUR BEHAVIORAL VALUE J -CAP- | 845 | EUR | 20,952,236.00 | 20,969,976.30 | 1.89% |
| DPAM L BDS EMCS J | 90 | EUR | 2,250,000.00 | 2,299,044.60 | 0.21% |
| DPAM L BONDS CLIMATE TRENDS SUSTAINABLE -J- | 1,928 | EUR | 49,136,638.59 | 42,272,537.52 | 3.80% |
| DPAM L BONDS CORP. HIGH YIELD -J- -CAP- | 215 | EUR | 5,609,694.97 | 5,883,029.95 | 0.53% |

|  |
| --- |
| Medium Low |
|  |
| Investment | Quantity | CCY | Cost (in EUR) | Evaluation value (in EUR) | % Total Net Assets |
|  |
| DPAM L BONDS CORPORATE EUR -J- | 2,110 | EUR | 53,990,279.10 | 50,092,096.30 | 4.50% |
| DPAM L BONDS EMERGING MARKETS SUSTAINABLE -J- -CAP- | 1,056 | EUR | 27,551,224.45 | 30,826,059.98 | 2.77% |
| DPAM L BONDS EUR HIGH YIELD SHORT-TERM -J- -CAP- | 629 | EUR | 15,568,431.23 | 16,152,933.50 | 1.45% |
| DPAM L BONDS EUR QUALITY -J- -CAP- | 3,259 | EUR | 80,971,419.90 | 75,076,898.61 | 6.75% |
| DPAM L BONDS GOVERNMENTT SUSTAINABLE -J- -CAP- | 220 | EUR | 5,358,421.20 | 4,892,888.00 | 0.44% |
| DPAM L BONDS GOVT GLOBAL -J- -CAP- | 545 | EUR | 13,025,718.05 | 12,991,922.55 | 1.17% |
| DPAM L BONDS GOVT SUSTAINABLE -J- -CAP- | 546 | EUR | 13,264,253.10 | 11,146,011.24 | 1.00% |
| DPAM L BONDS UNIV UNCONST -J- -CAP- | 1,756 | EUR | 46,231,667.46 | 45,162,336.76 | 4.06% |
| DPAML EQUIT. EMERGING MARKETS ESG LEAD INDEX -J- -CAP- | 1,493 | EUR | 36,979,349.75 | 29,809,670.97 | 2.68% |
| DPWM STRATEGIES ACTIONS SI | 36 | EUR | 3,855,276.56 | 3,871,922.40 | 0.35% |
| OSTRUM SRI MONEY PLUS -I- -CAP- | 90 | EUR | 9,251,841.33 | 9,437,266.80 | 0.85% |
| SELECT EQUIT. EMERGING MLTI MGMT -Z- EUR | 285 | EUR | 26,268,499.86 | 27,823,879.77 | 2.50% |
| SELECT EQUIT. JAPAN MULTI MANAGMENT -Z- -CAP- | 74 | EUR | 10,945,588.05 | 15,050,185.86 | 1.35% |
| Total EURO |  |  | 736,923,380.84 | 767,572,485.05 | 69.02% |
| ALLIANZ GLOBAL INVESTMENT FUND CHINA -A- -CAP- | 4,263 | USD | 5,213,271.70 | 4,297,933.29 | 0.39% |
| BROWN ADV US SUST GR | 413,175 | USD | 5,498,814.30 | 5,506,398.35 | 0.50% |
| ISHARES SP 500 ENERGY SECTOR UCITS | 449,000 | USD | 3,018,662.48 | 3,781,247.93 | 0.34% |
| MORGAN STANLEY INVESTMENT US GROWTH FUND Z | 33,579 | USD | 3,942,987.94 | 3,244,199.21 | 0.29% |
| NEUBERGER BERMAN US SMALL I3 -CAP- | 403 | USD | 3,457,798.75 | 5,463,804.51 | 0.49% |
| POLEN CAPITAL FOCUS U.S.GROWTH US -DIS- | 372,120 | USD | 4,545,205.37 | 5,201,771.90 | 0.47% |
| Total U.S. DOLLAR |  |  | 25,676,740.54 | 27,495,355.19 | 2.47% |
| Total Investment funds |  |  | 762,600,121.38 | 795,067,840.24 | 71.49% |
| Other Transferable Securities |  |  |  |  |  |
| INVESCO PHYSICAL GOLD ETC | 37,087 | USD | 5,767,026.91 | 6,270,549.11 | 0.56% |
| WISDOMTREE PHYSICAL SWISS GOLD 09-PERPETUAL | 34,710 | USD | 4,765,594.66 | 5,837,017.19 | 0.52% |
| Total U.S. DOLLAR |  |  | 10,532,621.57 | 12,107,566.30 | 1.09% |
| Total Other Transferable Securities |  |  | 10,532,621.57 | 12,107,566.30 | 1.09% |
| Total Portfolio |  |  | 1,053,532,531.55 | 1,076,813,011.01 | 96.83% |

(Content)
| Low | % Total Net Assets |
| --- | --- |
|  |
| LUXEMBURG | 41.39 % |
| BELGIUM | 26.28 % |
| UNITED STATES OF AMERICA | 10.29 % |
| FRANCE | 5.55 % |
| ITALY | 3.62 % |
| SPAIN | 3.27 % |
| NETHERLANDS | 2.15 % |
| IRELAND | 1.34 % |
| JERSEY | 0.84 % |
| PORTUGAL | 0.62 % |
| SWITZERLAND | 0.50 % |
| GERMANY | 0.45 % |
| UNITED KINGDOM | 0.36 % |
| SWEDEN | 0.04 % |
| Total Portfolio | 96.70 % |

(Content)
| Medium | % Total Net Assets |
| --- | --- |
|  |
| BELGIUM | 41.91 % |
| LUXEMBURG | 28.37 % |
| UNITED STATES OF AMERICA | 11.59 % |
| FRANCE | 2.83 % |
| GERMANY | 2.75 % |
| IRELAND | 2.62 % |
| SPAIN | 1.91 % |
| ITALY | 1.71 % |
| SWITZERLAND | 1.01 % |
| NETHERLANDS | 0.80 % |
| INTERNATIONAL ORGANIZATIONS | 0.77 % |
| PORTUGAL | 0.60 % |
| UNITED KINGDOM | 0.52 % |
| JERSEY | 0.41 % |
| SWEDEN | 0.07 % |
| Total Portfolio | 97.87 % |

(Content)
|  |  |
| --- | --- |
| High | % Total Net Assets |
|  |
| BELGIUM | 51.62 % |
| LUXEMBURG | 27.21 % |
| UNITED STATES OF AMERICA | 7.69 % |
| IRELAND | 4.66 % |
| FRANCE | 2.90 % |
| SWITZERLAND | 1.18 % |
| GERMANY | 0.76 % |
| NETHERLANDS | 0.58 % |
| JERSEY | 0.48 % |
| ITALY | 0.45 % |
| UNITED KINGDOM | 0.38 % |
| SWEDEN | 0.12 % |
| Total Portfolio | 98.03 % |

(Content)
| Medium Low | % Total Net Assets |
| --- | --- |
|  |
| LUXEMBURG | 36.19 % |
| BELGIUM | 34.11 % |
| UNITED STATES OF AMERICA | 9.57 % |
| FRANCE | 5.33 % |
| ITALY | 2.83 % |
| IRELAND | 2.46 % |
| SPAIN | 2.11 % |
| NETHERLANDS | 1.64 % |
| SWITZERLAND | 0.80 % |
| JERSEY | 0.52 % |
| UNITED KINGDOM | 0.47 % |
| GERMANY | 0.39 % |
| PORTUGAL | 0.36 % |
| SWEDEN | 0.05 % |
| Total Portfolio | 96.83 % |

| Low | % Total Net Assets |
| --- | --- |
|  |
| UNIT TRUSTS, UCITS | 68.04 % |
| STATE | 13.97 % |
| FINANCIAL SERVICES - HOLDINGS | 3.17 % |
| BANKS | 2.82 % |
| REAL ESTATE | 1.16 % |
| TOBACCO & SPIRITS | 0.99 % |
| PHARMACOLOGY & PERSONAL CARE | 0.86 % |
| CHEMICAL PRODUCTS | 0.80 % |
| TELECOMMUNICATIONS | 0.57 % |
| OIL & DERIVED | 0.53 % |
| ENERGY SOURCES | 0.49 % |
| ELECTRIC & ELECTRONIC COMPONENTS | 0.47 % |
| OTHER SERVICES | 0.41 % |
| DISTRIBUTION | 0.37 % |
| FOOD & CLEANING MATERIALS | 0.35 % |
| PHOTOGRAPHY & OPTICAL | 0.34 % |
| BUILDING MATERIALS | 0.25 % |
| TEXTILE & GARMENTS | 0.23 % |
| UTILITIES | 0.22 % |
| INFORMATION, TECHNOLOGY & COPIERS | 0.18 % |
| PUBLISHING & BROADCASTING | 0.15 % |
| IT & INTERNET | 0.12 % |
| HEALTH CARE & SERVICES | 0.11 % |
| MISCELLANEOUS CONSUMER GOODS | 0.06 % |
| MECHANICAL CONSTRUCTION | 0.04 % |
| Total Portfolio | 96.70 % |

|  |  |
| --- | --- |
| Medium | % Total Net Assets |
|  |
| UNIT TRUSTS, UCITS | 70.02 % |
| STATE | 13.83 % |
| BANKS | 2.56 % |
| REAL ESTATE | 1.45 % |
| FINANCIAL SERVICES - HOLDINGS | 1.43 % |
| PHARMACOLOGY & PERSONAL CARE | 1.32 % |
| EUROPEAN ORGANIZATIONS | 1.08 % |
| PHOTOGRAPHY & OPTICAL | 0.65 % |
| TOBACCO & SPIRITS | 0.62 % |
| CHEMICAL PRODUCTS | 0.59 % |
| OIL & DERIVED | 0.54 % |
| TELECOMMUNICATIONS | 0.50 % |
| ENERGY SOURCES | 0.48 % |
| ELECTRIC & ELECTRONIC COMPONENTS | 0.44 % |
| FOOD & CLEANING MATERIALS | 0.38 % |
| TEXTILE & GARMENTS | 0.31 % |
| MISCELLANEOUS CONSUMER GOODS | 0.25 % |
| OTHER SERVICES | 0.23 % |
| HEALTH CARE & SERVICES | 0.22 % |
| IT & INTERNET | 0.20 % |
| PUBLISHING & BROADCASTING | 0.20 % |
| INFORMATION, TECHNOLOGY & COPIERS | 0.19 % |
| DISTRIBUTION | 0.14 % |
| UTILITIES | 0.08 % |
| MECHANICAL CONSTRUCTION | 0.07 % |
| LEISURES & TOURISM | 0.05 % |
| BUILDING MATERIALS | 0.04 % |
| Total Portfolio | 97.87 % |

| High | % Total Net Assets |
| --- | --- |
|  |
| UNIT TRUSTS, UCITS | 82.68 % |
| STATE | 3.55 % |
| BANKS | 1.55 % |
| PHARMACOLOGY & PERSONAL CARE | 1.54 % |
| PHOTOGRAPHY & OPTICAL | 1.05 % |
| REAL ESTATE | 1.02 % |
| OIL & DERIVED | 0.74 % |
| FINANCIAL SERVICES - HOLDINGS | 0.66 % |
| TOBACCO & SPIRITS | 0.63 % |
| CHEMICAL PRODUCTS | 0.60 % |
| FOOD & CLEANING MATERIALS | 0.51 % |
| PUBLISHING & BROADCASTING | 0.47 % |
| ENERGY SOURCES | 0.45 % |
| TEXTILE & GARMENTS | 0.45 % |
| IT & INTERNET | 0.45 % |
| ELECTRIC & ELECTRONIC COMPONENTS | 0.40 % |
| TELECOMMUNICATIONS | 0.36 % |
| HEALTH CARE & SERVICES | 0.33 % |
| INFORMATION, TECHNOLOGY & COPIERS | 0.19 % |
| MISCELLANEOUS CONSUMER GOODS | 0.18 % |
| MECHANICAL CONSTRUCTION | 0.12 % |
| DISTRIBUTION | 0.10 % |
| Total Portfolio | 98.03 % |

|  |  |
| --- | --- |
| Medium Low | % Total Net Assets |
|  |
| UNIT TRUSTS, UCITS | 71.40 % |
| STATE | 11.42 % |
| FINANCIAL SERVICES - HOLDINGS | 2.62 % |
| BANKS | 2.42 % |
| REAL ESTATE | 1.20 % |
| PHARMACOLOGY & PERSONAL CARE | 1.17 % |
| TOBACCO & SPIRITS | 0.91 % |
| CHEMICAL PRODUCTS | 0.56 % |
| OIL & DERIVED | 0.55 % |
| ENERGY SOURCES | 0.53 % |
| TELECOMMUNICATIONS | 0.52 % |
| PHOTOGRAPHY & OPTICAL | 0.48 % |
| ELECTRIC & ELECTRONIC COMPONENTS | 0.46 % |
| FOOD & CLEANING MATERIALS | 0.41 % |
| TEXTILE & GARMENTS | 0.40 % |
| DISTRIBUTION | 0.28 % |
| OTHER SERVICES | 0.24 % |
| INFORMATION, TECHNOLOGY & COPIERS | 0.18 % |
| PUBLISHING & BROADCASTING | 0.18 % |
| BUILDING MATERIALS | 0.18 % |
| EUROPEAN ORGANIZATIONS | 0.17 % |
| HEALTH CARE & SERVICES | 0.17 % |
| IT & INTERNET | 0.16 % |
| MISCELLANEOUS CONSUMER GOODS | 0.10 % |
| UTILITIES | 0.07 % |
| MECHANICAL CONSTRUCTION | 0.05 % |
| Total Portfolio | 96.83 % |

| Low | % Total Net Assets |
| --- | --- |
|  |
| EURO | 84.53 % |
| U.S. DOLLAR | 11.41 % |
| SWISS FRANC | 0.37 % |
| BRITISH POUND | 0.35 % |
| SWEDISH KRONA | 0.04 % |
| Total Portfolio | 96.70 % |

| Medium | % Total Net Assets |
| --- | --- |
|  |
| EURO | 81.99 % |
| U.S. DOLLAR | 14.37 % |
| SWISS FRANC | 0.92 % |
| BRITISH POUND | 0.52 % |
| SWEDISH KRONA | 0.07 % |
| Total Portfolio | 97.87 % |

| High | % Total Net Assets |
| --- | --- |
|  |
| EURO | 81.62 % |
| U.S. DOLLAR | 14.73 % |
| SWISS FRANC | 1.18 % |
| BRITISH POUND | 0.38 % |
| SWEDISH KRONA | 0.12 % |
| Total Portfolio | 98.03 % |

| Medium Low | % Total Net Assets |
| --- | --- |
|  |
| EURO | 83.43 % |
| U.S. DOLLAR | 12.19 % |
| SWISS FRANC | 0.69 % |
| BRITISH POUND | 0.47 % |
| SWEDISH KRONA | 0.05 % |
| Total Portfolio | 96.83 % |


## Low
| Shares outstanding at the beginning of the financial period | - A | 4,502,938.153 |
| --- | --- | --- |
| - B | 2,171,644.623 |
| - C1 | 552,416.302 |
| - C2 | 867,533.178 |
| - D1 | 1,524,149.366 |
| - D2 | 2,626,951.734 |
| Shares issued during the financial period | - A | 321,133.717 |
| - B | 19,875.860 |
| - C1 | 3,688.985 |
| - C2 | 4,142.000 |
| - D1 | 164,382.851 |
| - D2 | 62,845.826 |
| Shares redeemed during the financial period | - A | 440,026.835 |
| - B | 175,393.759 |
| - C1 | 67,968.091 |
| - C2 | 60,282.000 |
| - D1 | 123,021.499 |
| - D2 | 314,402.603 |
| Shares outstanding at the end of the financial period | - A | 4,384,045.035 |
| - B | 2,016,126.724 |
| - C1 | 488,137.196 |
| - C2 | 811,393.178 |
| - D1 | 1,565,510.718 |
| - D2 | 2,375,394.957 |


## Medium
| Shares outstanding at the beginning of the financial period | - A | 21,981,002.953 |
| --- | --- | --- |
| - B | 10,577,776.062 |
| - C1 | 4,416,721.905 |
| - C2 | 6,279,546.568 |
| - D1 | 10,756,932.051 |
| - D2 | 12,532,995.514 |
| Shares issued during the financial period | - A | 712,621.391 |
| - B | 96,851.363 |
| - C1 | 11,955.879 |
| - C2 | 47,031.407 |
| - D1 | 368,597.069 |
| - D2 | 388,903.877 |
| Shares redeemed during the financial period | - A | 1,466,068.709 |
| - B | 539,634.751 |
| - C1 | 323,521.340 |
| - C2 | 292,989.958 |
| - D1 | 646,112.013 |
| - D2 | 646,134.732 |
| Shares outstanding at the end of the financial period | - A | 21,227,555.635 |
| - B | 10,134,992.674 |
| - C1 | 4,105,156.444 |
| - C2 | 6,033,588.017 |
| - D1 | 10,479,417.107 |
| - D2 | 12,275,764.659 |


## High
| Shares outstanding at the beginning of the financial period | - A | 4,719,329.574 |
| --- | --- | --- |
| - B | 2,897,453.624 |
| - C1 | 1,470,832.333 |
| - C2 | 1,864,319.191 |
| - D1 | 2,495,724.536 |
| - D2 | 2,347,624.135 |
| Shares issued during the financial period | - A | 191,231.744 |
| - B | 63,255.982 |
| - C1 | 9,690.203 |
| - C2 | 9,920.752 |
| - D1 | 161,436.296 |
| - D2 | 61,201.660 |
| Shares redeemed during the financial period | - A | 355,970.916 |
| - B | 147,268.779 |
| - C1 | 119,154.316 |
| - C2 | 23,655.327 |
| - D1 | 164,468.094 |
| - D2 | 149,352.888 |
| Shares outstanding at the end of the financial period | - A | 4,554,590.402 |
| - B | 2,813,440.827 |
| - C1 | 1,361,368.220 |
| - C2 | 1,850,584.616 |
| - D1 | 2,492,692.738 |
| - D2 | 2,259,472.907 |


## Medium Low
| Shares outstanding at the beginning of the financial period | - A | 4,799,058.926 |
| --- | --- | --- |
| - B | 4,357,357.003 |
| - C1 | 1,553,364.364 |
| - C2 | 2,158,169.064 |
| - D1 | 2,127,237.506 |
| - D2 | 2,211,048.090 |
| Shares issued during the financial period | - A | 52,461.124 |
| - B | 5,961.705 |
| - C1 | 0.000 |
| - C2 | 1,725.953 |
| - D1 | 27,439.000 |
| - D2 | 22,274.266 |
| Shares redeemed during the financial period | - A | 278,287.208 |
| - B | 263,511.968 |
| - C1 | 50,463.950 |
| - C2 | 87,045.552 |
| - D1 | 146,803.526 |
| - D2 | 32,430.596 |
| Shares outstanding at the end of the financial period | - A | 4,573,232.842 |
| - B | 4,099,806.740 |
| - C1 | 1,502,900.414 |
| - C2 | 2,072,849.465 |
| - D1 | 2,007,872.980 |
| - D2 | 2,200,891.760 |

| Sub-Fund | Valuation date | Total Net Assets | Share Class | Shares Outstanding | SHARE VALUE | CCY |
| --- | --- | --- | --- | --- | --- | --- |

| Low (EUR) | 31.03.2021 31.03.2022 31.03.2023 30.09.2023 | 770,863,221.25 698,280,697.53 594,315,792.24 557,239,983.36 | - A | 5,176,073.781 | 34.96 | EUR |
| --- | --- | --- | --- | --- | --- | --- |
| - B | 2,449,634.680 | 93.95 | EUR |
| - C1 | 684,064.185 | 94.39 | EUR |
| - C2 | 1,254,949.873 | 94.96 | EUR |
| - D1 | 1,899,019.708 | 35.12 | EUR |
| - D2 | 3,093,814.866 | 35.34 | EUR |
| - A | 4,741,596.362 | 34.33 | EUR |
| - B | 2,270,289.632 | 93.00 | EUR |
| - C1 | 621,524.837 | 93.61 | EUR |
| - C2 | 958,110.845 | 94.37 | EUR |
| - D1 | 1,600,233.958 | 34.56 | EUR |
| - D2 | 3,457,979.746 | 34.84 | EUR |
| - A | 4,502,938.153 | 31.73 | EUR |
| - B | 2,171,644.623 | 87.92 | EUR |
| - C1 | 552,416.302 | 88.68 | EUR |
| - C2 | 867,533.178 | 89.57 | EUR |
| - D1 | 1,524,149.366 | 32.02 | EUR |
| - D2 | 2,626,951.734 | 32.36 | EUR |
| - A | 4,384,045.035 | 31.51 | EUR |
| - B | 2,016,126.724 | 87.71 | EUR |
| - C1 | 488,137.196 | 88.59 | EUR |
| - C2 | 811,393.178 | 89.57 | EUR |
| - D1 | 1,565,510.718 | 31.84 | EUR |
| - D2 | 2,375,394.957 | 32.21 | EUR |

| Medium (EUR) | 31.03.2021 31.03.2022 31.03.2023 30.09.2023 | 5,911,535,165.89 5,922,678,526.87 5,149,965,462.42 4,914,484,603.11 | - A | 21,512,950.718 | 58.07 | EUR |
| --- | --- | --- | --- | --- | --- | --- |
| - B | 10,990,153.447 | 132.94 | EUR |
| - C1 | 5,318,059.033 | 134.13 | EUR |
| - C2 | 7,731,674.743 | 134.98 | EUR |
| - D1 | 11,041,288.814 | 58.58 | EUR |
| - D2 | 13,531,178.804 | 58.95 | EUR |
| - A | 21,483,954.356 | 58.42 | EUR |
| - B | 11,072,309.412 | 134.80 | EUR |
| - C1 | 4,744,898.821 | 136.41 | EUR |
| - C2 | 7,177,036.388 | 137.61 | EUR |
| - D1 | 11,423,902.959 | 59.10 | EUR |
| - D2 | 14,504,599.919 | 59.63 | EUR |
| - A | 21,981,002.953 | 53.53 | EUR |
| - B | 10,577,776.062 | 125.56 | EUR |
| - C1 | 4,416,721.905 | 127.44 | EUR |
| - C2 | 6,279,546.568 | 128.89 | EUR |
| - D1 | 10,756,932.051 | 54.32 | EUR |
| - D2 | 12,532,995.514 | 54.96 | EUR |
| - A | 21,227,555.635 | 52.90 | EUR |
| - B | 10,134,992.674 | 124.73 | EUR |
| - C1 | 4,105,156.444 | 126.80 | EUR |
| - C2 | 6,033,588.017 | 128.39 | EUR |
| - D1 | 10,479,417.107 | 53.77 | EUR |
| - D2 | 12,275,764.659 | 54.47 | EUR |

| Sub-Fund | Valuation date | Total Net Assets | Share Class | Shares Outstanding | SHARE VALUE | CCY |
| --- | --- | --- | --- | --- | --- | --- |

| High (EUR) | 31.03.2021 31.03.2022 31.03.2023 30.09.2023 | 1,326,373,645.12 1,445,215,003.77 1,319,203,166.71 1,285,202,449.12 | - A | 4,480,012.199 | 62.56 | EUR |
| --- | --- | --- | --- | --- | --- | --- |
| - B | 2,869,505.804 | 121.46 | EUR |
| - C1 | 1,621,547.904 | 122.54 | EUR |
| - C2 | 1,837,358.873 | 123.28 | EUR |
| - D1 | 2,310,313.097 | 63.12 | EUR |
| - D2 | 1,991,840.899 | 63.50 | EUR |
| - A | 4,429,634.536 | 64.43 | EUR |
| - B | 3,001,888.465 | 126.07 | EUR |
| - C1 | 1,499,338.211 | 127.58 | EUR |
| - C2 | 1,935,716.528 | 128.60 | EUR |
| - D1 | 2,633,004.134 | 65.20 | EUR |
| - D2 | 2,577,592.968 | 65.74 | EUR |
| - A | 4,719,329.574 | 59.42 | EUR |
| - B | 2,897,453.624 | 118.25 | EUR |
| - C1 | 1,470,832.333 | 120.02 | EUR |
| - C2 | 1,864,319.191 | 121.23 | EUR |
| - D1 | 2,495,724.536 | 60.32 | EUR |
| - D2 | 2,347,624.135 | 60.95 | EUR |
| - A | 4,554,590.402 | 59.46 | EUR |
| - B | 2,813,440.827 | 118.95 | EUR |
| - C1 | 1,361,368.220 | 120.92 | EUR |
| - C2 | 1,850,584.616 | 122.25 | EUR |
| - D1 | 2,492,692.738 | 60.46 | EUR |
| - D2 | 2,259,472.907 | 61.15 | EUR |

| Medium Low (EUR) | 31.03.2021 31.03.2022 31.03.2023 30.09.2023 | 1,414,111,850.60 1,371,082,939.71 1,165,966,487.22 1,112,118,525.30 | - A | 5,176,861.823 | 69.69 | EUR |
| --- | --- | --- | --- | --- | --- | --- |
| - B | 4,773,700.691 | 74.52 | EUR |
| - C1 | 1,905,899.078 | 74.97 | EUR |
| - C2 | 2,865,089.491 | 75.42 | EUR |
| - D1 | 2,479,244.955 | 70.12 | EUR |
| - D2 | 2,335,731.394 | 70.55 | EUR |
| - A | 4,993,291.959 | 69.34 | EUR |
| - B | 4,616,405.690 | 74.85 | EUR |
| - C1 | 1,683,662.765 | 75.49 | EUR |
| - C2 | 2,839,959.776 | 76.10 | EUR |
| - D1 | 2,400,988.975 | 69.94 | EUR |
| - D2 | 2,384,354.738 | 70.52 | EUR |
| - A | 4,799,058.926 | 64.42 | EUR |
| - B | 4,357,357.003 | 70.42 | EUR |
| - C1 | 1,553,364.364 | 71.20 | EUR |
| - C2 | 2,158,169.064 | 71.92 | EUR |
| - D1 | 2,127,237.506 | 65.15 | EUR |
| - D2 | 2,211,048.090 | 65.83 | EUR |
| - A | 4,573,232.842 | 64.03 | EUR |
| - B | 4,099,806.740 | 70.34 | EUR |
| - C1 | 1,502,900.414 | 71.22 | EUR |
| - C2 | 2,072,849.465 | 72.01 | EUR |
| - D1 | 2,007,872.980 | 64.86 | EUR |
| - D2 | 2,200,891.760 | 65.60 | EUR |


## NOTE 1 - ACCOUNTING PRINCIPLES AND METHODS
The financial statements of the SICAV have been prepared on a going concern basis and in accordance with accounting standards and principles generally accepted in Luxembourg on the basis of the official net asset values calculated at the end of the financial year.
- Securities portfolio valuationSecurities listed on a recognised stock exchange are valued at their closing price on 30 September 2023. If they are traded on more than one market, the closing price on the primary market will be used.


## The value of securities traded on any other regulated market offering comparable safeguards is based on their last available price on the Valuation Date.
Securities investments which, on the Valuation Date, are not traded or listed on a stock exchange or any other regulated market, or which are traded or listed on such stock exchange or regulated market but their price, determined as described above, is not representative of their actual value, are measured at their probable realisable value estimated prudently and in good faith.
Securities not listed on a regulated market or whose listed price is not representative of their actual value are measured at their last known market value or, in the absence of a market value, at their probable realisable selling price based on evaluation criteria deemed prudent by the Board of Directors.
The value of the derivative instruments (futures and options) which are listed or quoted on a stock exchange or an organised market is determined in line with their last liquidation price on 30 September 2023 on the stock exchange or the organised market on which the aforementioned instruments are traded, it being understood that if one of the derivative instruments above cannot be liquidated on the day taken into account for determining the applicable values, the value of this derivative instrument or of these derivative instruments will be determined in a prudent and reasonable manner by the Board of Directors.

## The equities or the units of mutual funds are valued based on their last net asset value available.
The monetary market instruments and other fixed income securities may be valued based on the amortised cost. If, however, there is a market price for these securities, the valuation, carried out as described above, will be compared regularly with the market price and where there is a considerable difference, the Board of Directors may adjust the valuation.

## Forward exchange agreements are valued on the basis of the last forward prices available on the valuation date.
- Net realised gain or loss on investmentsNet realised gains or losses on the sale of securities are calculated on the basis of the average cost of securities sold.

The amount of net realized capital gains or losses attributable to changes in exchange rates is recorded in the "Net realized capital gain or loss on foreign currencies" account at the time of the sale transaction.
- Conversion of foreign currenciesThe SICAV's accounts are kept in EUR. Cash at bank, other net assets and the market value of securities in the portfolio in currencies other than the EUR are converted into EUR at the exchange rates prevailing on the closing date.


## Income and expenses in currencies other than the EUR are converted into EUR at the exchange rates prevailing on the payment date.
- Acquisition cost of the securities in the portfolioFor securities denominated in currencies other than the SICAV's currency, the acquisition cost is calculated on the basis of the exchange rate prevailing on the day of purchase.
- Change in the net unrealised gain and lossThe change in unrealized capital gains and losses at the end of the year is also included in operating income.
- Income, expenditure and related provisionsInterest is provisioned daily and dividends are recorded on the "ex-date". Interest and income are recorded net of non-recoverable withholding taxes on movable property.

When the SICAV incurs costs relating to a particular sub-fund, these costs are allocated to that sub- fund. Expenses not attributable to a particular sub-fund are allocated to the various sub-funds in proportion to the net asset value of each sub-fund.
- Change in the securities portfolioThe table of changes in the sub-funds' securities portfolio is available free of charge at the Sicav's registered office.
- Combined financial statementsThe net assets of the SICAV's various sub-funds are expressed in their reference currency.

The combined financial statements of the SICAV are drawn up in EUR and are equal to the sum of the corresponding items in the financial statements of each sub-fund converted into this currency at the exchange rates prevailing on the date of the financial statements.

## NOTE 2 - TAXES AND EXPENSES PAYABLE
| Management fee | 17,865,162.27 | EUR |
| --- | --- | --- |
| Depositary fees | 490,862.19 | EUR |
| Subscription tax | 681,661.60 | EUR |
| Miscellaneous fees | 1,286,639.74 | EUR |
| Total | 20,324,325.34 | EUR |


## NOTE 3 - MANAGEMENT FEE

## In return for its services, the Management Company has received an annual fee from the sub-fund at the rate of:
| Sub-Fund | Class of Shares | Management fee rate (until 1 st  May 2023) | Management fee rate (since 2 May 2023) |
| --- | --- | --- | --- |
| Low | A | Max 0.90% p.a. | Max 1.05% p.a. |
| B | Max 0.90% p.a. | Max 1.05% p.a. |
| C1 | Max 0.70% p.a. | Max 0.75% p.a. |
| D1 | Max 0.70% p.a. | Max 0.75% p.a. |
| C2 | Max 0.50% p.a. | Max 0.55% p.a. |
| D2 | Max 0.50% p.a. | Max 0.55% p.a. |
| Medium | A | Max 1.10% p.a. | Max 1.10% p.a. |
| B | Max 1.10% p.a. | Max 1.10% p.a. |
| C1 | Max 0.80% p.a. | Max 0.80% p.a. |
| D1 | Max 0.80% p.a. | Max 0.80% p.a. |
| C2 | Max 0.55% p.a. | Max 0.55% p.a. |
| D2 | Max 0.55% p.a. | Max 0.55% p.a. |
| High | A | Max 1.20% p.a. | Max 1.20% p.a. |
| B | Max 1.20% p.a. | Max 1.20% p.a. |
| C1 | Max 0.90% p.a. | Max 0.90% p.a. |
| D1 | Max 0.90% p.a. | Max 0.90% p.a. |
| C2 | Max 0.70% p.a. | Max 0.70% p.a. |
| D2 | Max 0.70% p.a. | Max 0.70% p.a. |
| Medium Low | A | Max 1.00% p.a. | Max 1.05% p.a. |
| B | Max 1.00% p.a. | Max 1.05% p.a. |
| C1 | Max 0.75% p.a. | Max 0.75% p.a. |
| D1 | Max 0.75% p.a. | Max 0.75% p.a. |
| C2 | Max 0.55% p.a. | Max 0.55% p.a. |
| D2 | Max 0.55% p.a. | Max 0.55% p.a. |


## This fee is payable on a quarterly basis and is calculated based on average net assets of each of the share classes of the sub-fund during the quarter under review.
It should be noted that the activity of a UCI or a sub-fund that invests in other UCIs may result in the duplication of certain costs. In addition to the expenses borne by the sub-fund in the course of its day- to-day operation, management fees will be indirectly charged to the assets of the sub-fund via the UCITS and/or other target UCI which it holds. The cumulative management fees may not exceed 5%; the performance and advisor commission is covered by the term "management fees".
When the SICAV invests in units of other UCITS and/or other UCIs which are managed, directly or by delegation, by the same Management Company or by any other company to which the Management Company is linked as part of a management or control community or by a significant direct or indirect participation, the Management Company or the other company may not charge subscription or redemption fees for the SICAV's investment in the units of other UCITS and/or other UCIs. This does not apply to any subscription or redemption fees charged exclusively to these other UCITS or UCIs and paid in full to them.
| NOTE 4 - SUBSCRIPTION TAX |
| --- |
| The SICAV is governed by Luxembourg tax laws. In accordance with the legislation and regulations currently in force in Luxembourg, the SICAV is liable to subscription tax at an annual rate of 0,05%, payable quarterly and based on the net assets of the SICAV at the end of each quarter (0,01% for the net assets attributable to the institutional classes E and F for the relevant sub-funds). No taxe d’abonnement (subscription tax) is payable on a pool of net assets invested in undertakings for collective investment that are already subject to this tax. Subscription tax is not payable on the portion of assets invested in UCIs already subject to this Luxembourg tax. However, as the SICAV is registered in Belgium, it is subject to an annual tax rate of 0.0925% calculated, for the year 2023, on the basis of the value of the shares distributed in Belgium as established on 31 December 2022 and for the year 2022, on the basis of the value of the shares distributed in Belgium as established on 31 December 2021. The amount relating to the remaining 3 months of calendar 2023 is recorded under "Prepaid taxes and charges". |
| NOTE 5 - ADMINISTRATION FEES |
| As remuneration for its duties as Domiciliary Agent, Administrative Agent, Transfer Agent and Registrar of the SICAV, Degroof Petercam Asset Services S.A. receives the following remuneration from each sub- fund: - an annual fee at a maximum rate of 0.100%, payable quarterly and calculated on the basis of the average net assets of each sub-fund during the quarter under review
- a flat-rate annual fee of EUR 2,000 per active share class.
 |
| NOTE 6 - DEPOSITARY FEES |
| As remuneration for its services, the Custodian shall receive an annual fee from each sub-fund at a maximum rate of 0.050% per annum. This fee is payable quarterly and calculated on the basis of the average net assets of each sub-fund during the quarter under review. |
| NOTE 7 - FUTURES |
| Futures contracts are valued using the method described in Note 1 (a) on each bank business day. Unrealized gains/(losses) arising from futures contracts open at the balance sheet date are recorded directly in bank balances. Any change in the margin call that has not yet been transferred to bank balances at the balance sheet date is reflected in the "Amounts receivable from/(payable to) futures broker" account. As at 30 September 2023, all futures transactions are deposited at Banque Degroof Petercam Luxembourg S.A.: |


## Low :
| CCY | Number of CONTRACTS | Description | +/- Unrealised Value ( IN  EUR) | Commitments ( IN  EUR) |
| --- | --- | --- | --- | --- |
|  |
| EUR | -49 | EURO STOXX 50 FUTURE | 33,565.00 | 2,045,583.40 |
| EUR | -88 | EURO BOBL FUTURE DEC | 88,880.00 | 8,644,944.00 |
| EUR | -104 | EURO-BUND FUTURE DEC | 244,400.00 | 9,524,112.00 |
| EUR | -5 | EURO-BUXL 30YR FUTUR | 34,300.00 | 349,255.00 |
| GBP | 16 | LONG GILT FUTURE DEC | -368.92 | 1,185,003.46 |
| USD | 37 | MSCI EMERGING MKTS F | -56,613.93 | 1,664,834.00 |
| USD | -21 | SP 500 EMINI FUTURE | 211,537.19 | 4,252,611.57 |
| USD | 119 | ULTRA 10YR US TREAS | -361,776.86 | 10,197,365.70 |
|  |  | Total | 193,922.48 | 37,863,709.13 |

In respect of these futures contracts, the sub-fund maintained a security deposit of EUR 1,354,607.84 with Banque Degroof Petercam Luxembourg S.A. in favor of the counterparty at the balance sheet date. This deposit is intended to cover market risks in the event of unfavorable daily price movements on futures contracts bought or sold.

## Medium :
| CCY | Number of CONTRACTS | Description | +/- Unrealised Value ( IN  EUR) | Commitments ( IN  EUR) |
| --- | --- | --- | --- | --- |
|  |
| EUR | 345 | EURO-BUND FUTURE DEC | -821,100.00 | 31,594,410.00 |
| EUR | -838 | EURO STOXX 50 FUTURE | 590,790.00 | 34,983,650.80 |
| GBP | 140 | LONG GILT FUTURE DEC | -3,228.04 | 10,368,780.26 |
| JPY | 107 | TOPIX INDEX FUTURE D | -260,063.88 | 15,735,151.68 |
| USD | 561 | MSCI EMERGING MKTS F | -855,740.26 | 25,242,483.12 |
| USD | 1,135 | ULTRA 10YR US TREAS | -3,450,560.80 | 97,260,588.84 |
| USD | -217 | SP 500 EMINI FUTURE | 2,186,909.09 | 43,943,652.89 |
|  |  | Total | -2,612,993.89 | 259,128,717.60 |

In respect of these futures contracts, the sub-fund maintained a security deposit of EUR 10,592,045.37 with Banque Degroof Petercam Luxembourg S.A. in favor of the counterparty at the balance sheet date. This deposit is intended to cover market risks in the event of unfavorable daily price movements on futures contracts bought or sold.

## High :
| CCY | Number of contracts | Description | +/- Unrealised Value ( IN  EUR) | Commitments ( IN  EUR) |
| --- | --- | --- | --- | --- |
|  |
| EUR | 30 | EURO-BUND FUTURE DEC | -71,100.00 | 2,747,340.00 |
| EUR | -117 | EURO STOXX 50 FUTURE | 84,825.00 | 4,884,352.20 |
| JPY | 36 | TOPIX INDEX FUTURE D | -87,725.99 | 5,294,069.73 |
| USD | 374 | MSCI EMERGING MKTS F | -575,792.21 | 16,828,322.08 |
| USD | -7 | SP 500 EMINI FUTURE | 70,545.45 | 1,417,537.19 |
| USD | 117 | ULTRA 10YR US TREAS | -355,696.58 | 10,025,981.40 |
|  |  | Total | -934,944.33 | 41,197,602.60 |

In respect of these futures contracts, the sub-fund maintained a security deposit of EUR 1,609,177.12 with Banque Degroof Petercam Luxembourg S.A. in favor of the counterparty at the balance sheet date. This deposit is intended to cover market risks in the event of unfavorable daily price movements on futures contracts bought or sold.

## Medium Low :
| CCY | Number of CONTRACTS | Description | +/- Unrealised Value ( IN  EUR) | Commitments ( IN  EUR) |
| --- | --- | --- | --- | --- |
|  |
| EUR | -60 | EURO BOBL FUTURE DEC | 60,600.00 | 5,894,280.00 |
| EUR | -175 | EURO STOXX 50 FUTURE | 123,375.00 | 7,305,655.00 |
| EUR | -8 | EURO-BUXL 30YR FUTUR | 55,200.00 | 558,808.00 |
| EUR | -25 | EURO-BUND FUTURE DEC | 59,500.00 | 2,289,450.00 |
| GBP | 31 | LONG GILT FUTURE DEC | -714.78 | 2,295,944.20 |
| JPY | 9 | TOPIX INDEX FUTURE D | -21,931.50 | 1,323,517.43 |
| USD | 25 | MSCI EMERGING MKTS F | -38,724.91 | 1,124,887.84 |
| USD | 152 | ULTRA 10YR US TREAS | -462,101.53 | 13,025,206.61 |
| USD | -49 | SP 500 EMINI FUTURE | 493,702.48 | 9,922,760.33 |
|  |  | Total | 268,904.76 | 43,740,509.41 |

In respect of these futures contracts, the sub-fund maintained a security deposit of EUR 1,838,775.70 with Banque Degroof Petercam Luxembourg S.A. in favor of the counterparty at the balance sheet date. This deposit is intended to cover market risks in the event of unfavorable daily price movements on futures contracts bought or sold.

## NOTE 8 - FORWARD FOREIGN EXCHANGE CONTRACTS

## As at 30 September 2023, all forward foreign exchange contracts hereunder have been concluded with Banque Degroof Petercam Luxembourg S.A.:

## Low :
| Maturity | Currency Purchase | Nominal Purchased | Currency Sold | Nominal Sold | +/- Unrealised Value ( IN  EUR) | Commitments ( IN  EUR) |
| --- | --- | --- | --- | --- | --- | --- |
|  |
| 24/11/2023 | CHF | 2,500,000.00 | EUR | 2,632,687.45 | -42,066.20 | 2,581,178.05 |
| 24/11/2023 | JPY | 1,450,000,000 | EUR | 9,256,717.50 | -19,927.70 | 9,177,682.78 |
| 10/11/2023 | EUR | 3,514,165.49 | USD | 3,875,000.00 | -139,149.78 | 3,659,976.39 |
| 24/11/2023 | EUR | 27,200,596.14 | USD | 29,640,000.00 | -726,032.32 | 27,995,277.45 |
| 20/10/2023 | EUR | 13,187,474.55 | USD | 14,900,000.00 | -873,613.27 | 14,073,199.53 |
|  |  |  |  | Total | -1,800,789.27 | 57,487,314.19 |

In respect of these OTC derivative contracts, the sub-fund received collateral of EUR 2,030,000.00 from Banque Degroof Petercam Luxembourg S.A. at the balance sheet date. This cash collateral is intended to fully cover the fund against the risk of counterparty default, since no margin call was made.

## Medium :
| Maturity | Currency Purchase | Nominal Purchased | Currency Sold | Nominal Sold | +/- Unrealised Value ( IN  EUR) | Commitments ( IN  EUR) |
| --- | --- | --- | --- | --- | --- | --- |
|  |
| 24/11/2023 | JPY | 19,080,000,000 | EUR | 121,805,634.47 | -262,221.19 | 120,765,646.51 |
| 24/11/2023 | CHF | 20,200,000.00 | EUR | 21,272,114.57 | -339,894.88 | 20,855,918.64 |
| 24/11/2023 | EUR | 149,942,827.36 | USD | 163,390,000.00 | -4,002,240.95 | 154,323,494.68 |
| 20/10/2023 | EUR | 146,389,818.21 | USD | 165,400,000.00 | -9,697,693.53 | 156,221,959.86 |
| 10/11/2023 | EUR | 82,145,318.68 | USD | 90,580,000.00 | -3,252,693.55 | 85,553,719.01 |
|  |  |  |  | Total | -17,554,744.10 | 537,720,738.70 |

In respect of these OTC derivative contracts, the sub-fund received collateral of EUR 18,050,000.00 from Banque Degroof Petercam Luxembourg S.A. at the balance sheet date. This cash collateral is intended to fully cover the fund against the risk of counterparty default, since no margin call was made.

## High :
| Maturity | Currency Purchase | Nominal Purchased | Currency Sold | Nominal Sold | +/- Unrealised Value ( IN  EUR) | Commitments ( IN  EUR) |
| --- | --- | --- | --- | --- | --- | --- |
|  |
| 24/11/2023 | CHF | 4,900,000.00 | EUR | 5,160,067.40 | -82,449.75 | 5,059,108.98 |
| 24/11/2023 | JPY | 3,250,000,000 | EUR | 20,747,815.10 | -44,665.56 | 20,570,668.30 |
| 10/11/2023 | EUR | 15,689,048.50 | USD | 17,300,000.00 | -621,236.46 | 16,340,023.61 |
| 24/11/2023 | EUR | 17,032,492.05 | USD | 18,560,000.00 | -454,627.53 | 17,530,106.26 |
| 20/10/2023 | EUR | 7,257,536.33 | USD | 8,200,000.00 | -480,780.45 | 7,744,982.29 |
|  |  |  |  | Total | -1,683,759.75 | 67,244,889.44 |

In respect of these OTC derivative contracts, the sub-fund received collateral of EUR 1,640,000.00 from Banque Degroof Petercam Luxembourg S.A. at the balance sheet date. This cash collateral is intended to fully cover the fund against the risk of counterparty default, since no margin call was made.

## Medium Low :
| Maturity | Currency Purchase | Nominal Purchased | Currency Sold | Nominal Sold | +/- Unrealised Value ( IN  EUR) | Commitments ( IN  EUR) |
| --- | --- | --- | --- | --- | --- | --- |
|  |
| 24/11/2023 | CHF | 4,900,000.00 | EUR | 5,160,067.40 | -82,449.75 | 5,059,108.98 |
| 24/11/2023 | JPY | 3,430,000,000 | EUR | 21,896,924.85 | -47,139.34 | 21,709,966.85 |
| 24/11/2023 | EUR | 40,314,513.78 | USD | 43,930,000.00 | -1,076,066.13 | 41,492,325.86 |
| 10/11/2023 | EUR | 10,429,136.29 | USD | 11,500,000.00 | -412,960.65 | 10,861,865.41 |
| 20/10/2023 | EUR | 29,118,651.87 | USD | 32,900,000.00 | -1,928,984.99 | 31,074,380.16 |
|  |  |  |  | Total | -3,547,600.86 | 110,197,647.26 |

In respect of these OTC derivative contracts, the sub-fund received collateral of EUR 3,660,000.00 from Banque Degroof Petercam Luxembourg S.A. at the balance sheet date. This cash collateral is intended to fully cover the fund against the risk of counterparty default, since no margin call was made.

## NOTE 9 - COMMITMENT (CAPITAL CALL)

## The ISIS Low, ISIS Medium and ISIS High sub-funds contracted the following commitments. The uncalled amounts of these commitments are shown in the tables below:
| Denomination | Capital call ( in EUR) |
| --- | --- |
|  | Low | Medium | High |
| Carlyle Europe Partner III | 12,471.54 | 157,972.84 | 37,414.62 |
| Carlyle Europe Partner V | 58,764.30 | 744,347.80 | 176,292.90 |


## NOTE 10 – DIVIDENDS PAID
| LOW : | Ex-date | Date de paiement |
| --- | --- | --- |
| Payment of a dividend of EUR 0.15 per share class A | 14/08/23 | 21/08/23 |
| Payment of a dividend of EUR 0.15 per share class D1 | 14/08/23 | 21/08/23 |
| Payment of a dividend of EUR 0.15 per share class D2 | 14/08/23 | 21/08/23 |
| MEDIUM : |  |  |
| Payment of a dividend of EUR 0.28 per share class A | 14/08/23 | 21/08/23 |
| Payment of a dividend of EUR 0.28 per share class D1 | 14/08/23 | 21/08/23 |
| Payment of a dividend of EUR 0.28 per share class D2 | 14/08/23 | 21/08/23 |
| HIGH : |  |  |
| Payment of a dividend of EUR 0.32 per share class A | 14/08/23 | 21/08/23 |
| Payment of a dividend of EUR 0.32 per share class D1 | 14/08/23 | 21/08/23 |
| Payment of a dividend of EUR 0.32 per share class D2 | 14/08/23 | 21/08/23 |
| MEDIUM LOW : |  |  |
| Payment of a dividend of EUR 0.32 per share class A | 14/08/23 | 21/08/23 |
| Payment of a dividend of EUR 0.32 per share class D1 | 14/08/23 | 21/08/23 |
| Payment of a dividend of EUR 0.32 per share class D2 | 14/08/23 | 21/08/23 |


## NOTE 11 - EVENTS OCCURRING DURING THE PERIOD

## Impact of the Russian invasion of Ukraine:
Although energy prices have fallen compared with the start of the conflict, the European economy remains fragile due to its overdependence on gas and oil. Further rises in commodity prices cannot be ruled out. Energy prices remain one of the main channels for transmitting risk in the global economy, notably through inflation. Although inflation has peaked in both Europe and the United States, it could remain persistently higher than in the last two decades. As a result, central banks have raised interest rates sharply, but the hikes may not be over yet. This is a difficult balancing act for central banks, as it can be dangerous to tighten monetary policy too much to contain inflation and push the economy into recession at the same time.
Russia has isolated itself from Western economies, and the negative effects of economic sanctions could begin to be felt in Russia over the coming months. We can't rule out a consequent hardening of the conflict, which could produce further negative effects.
It is virtually impossible for Russia to regain its former position in equity or bond indices. This war will leave its mark for a long time to come, but it's impossible to predict a short- or medium-term scenario. The informed investor will take all these uncertainties into account when considering his investments.
| OVERALL RISK ASSESSMENT |
| --- |
| Each sub-fund must ensure that its overall risk relating to derivatives does not exceed the total net value of its portfolio. Overall risk is a measurement designed to limit the leverage generated for each sub-fund by using derivatives. The method used to calculate overall exposure for each sub-fund of the SICAV is the ‘commitment method’. The commitment method consists in converting positions on derivatives into equivalent positions on the underlying assets and then aggregating the market value of these equivalent positions. According to the commitment methodology, the maximum level of derivative leverage is 100%. |
| Transparency of securities financing transactions and reuse ("SFTR") Pursuant to Article 13 and Section A of the Annex to Regulation EU 2015/2365 (hereinafter the "Regulation"), the SICAV must inform investors of its use of securities financing transactions and total return swaps in the annual report and the half-yearly report. At the date of the financial statements, the SICAV is concerned by the SFTR disclosure requirements. However, no corresponding transactions were carried out during the reporting period. |

Translation (ENFR, 2023-09-30):
# du 1 avril 2023 au 30 septembre 2023
|  |  |  |
| --- | --- | --- |
|  | Notes | Combiné (en EUR) |
|  |
| Revenus |  |  |
| Dividendes sur actions | 1f | 5.123.994,19 |
| Intérêts sur obligations | 1f | 14.539.358,83 |
| Intérêts créditeurs |  | 1.683.827,05 |
| Récupérations de taxes |  | 3,71 |
| Total Revenus |  | 21.347.183,78 |
| Charges |  |  |
| Commission de gestion | 3 | 35.913.106,88 |
| Commission de banque dépositaire | 6 | 1.027.586,11 |
| Taxe d'abonnement | 4 | 4.673.147,22 |
| Frais d'administration | 5 | 2.698.783,52 |
| Frais et commissions divers |  | 101.113,19 |
| Frais de transactions |  | 1.145.222,53 |
| Intérêts débiteurs |  | 26.623,56 |
| Redevance aux autorités étrangères |  | 20.102,18 |
| Total Charges |  | 45.605.685,19 |
| Revenus / Pertes Net(te)s |  | -24.258.501,41 |
| Plus ou moins-value nette réalisée |  |  |
| - sur investissements | 1b | 145.139.715,92 |
| - sur devises |  | 1.631.256,35 |
| - sur changes à terme |  | -10.133.794,41 |
| - sur futures |  | -15.380.455,48 |
| Bénéfice / (Perte) Net(te) réalisé(e) |  | 96.998.220,97 |
| Variation de la plus ou moins-value nette non réalisée |  |  |
| - sur investissements | 1e | -92.860.679,75 |
| - sur devises |  | 1.691.887,57 |
| - sur changes à terme |  | -27.564.950,23 |
| - sur futures |  | 5.525.306,59 |
| Résultat net des opérations |  | -16.210.214,85 |
| - Souscriptions |  | 162.053.054,27 |
| - Rachats |  | -486.761.869,81 |
| Dividendes payés | 10 | -19.486.317,31 |
| Variations de l'actif net |  | -360.405.347,70 |
| Actif net au début de la période |  | 8.229.450.908,59 |
| Actif net à la fin de la période |  | 7.869.045.560,89 |

|  |
| --- |
| Low |
|  |
|  | Notes | Valeur (en EUR) |
|  |
| Actif |  |  |
| Portefeuille-titres à la valeur d'évaluation | 1a | 538.852.241,36 |
| Avoirs en banque |  | 15.934.778,12 |
| Intérêts à recevoir sur compte courant |  | 43.907,80 |
| Intérêts à recevoir sur obligations |  | 1.029.429,07 |
| Dividendes à recevoir sur actions |  | 26.731,80 |
| Montants à recevoir sur souscriptions |  | 1.316.233,11 |
| Dépôts de garantie sur futures | 7 | 1.354.607,84 |
| Collatéral sur changes à terme | 8 | 2.030.000,00 |
| Taxes et frais payés d'avance | 4 | 114.460,22 |
| Total Actif |  | 560.702.389,32 |
| Exigible |  |  |
| Taxes et frais à payer | 2 | 1.393.216,81 |
| Intérêts débiteurs à payer |  | 93,90 |
| Montants à payer sur rachats |  | 70.260,17 |
| Pertes non réalisées sur changes à terme | 8 | 1.800.789,27 |
| Montants à payer au broker sur futures |  | 198.045,81 |
| Total Exigible |  | 3.462.405,96 |
| Actif net à la fin de la période |  | 557.239.983,36 |
| Nombre d'actions en circulation (à la fin de la période) |  |  |
| - A |  | 4.384.045,035 |
| - B |  | 2.016.126,724 |
| - C1 |  | 488.137,196 |
| - C2 |  | 811.393,178 |
| - D1 |  | 1.565.510,718 |
| - D2 |  | 2.375.394,957 |
| Valeur Nette d'inventaire par action (à la fin de la période) |  |  |
| - A |  | 31,51 |
| - B |  | 87,71 |
| - C1 |  | 88,59 |
| - C2 |  | 89,57 |
| - D1 |  | 31,84 |
| - D2 |  | 32,21 |

|  |
| --- |
| Medium |
|  |
|  | Notes | Valeur (en EUR) |
|  |
| Actif |  |  |
| Portefeuille-titres à la valeur d'évaluation | 1a | 4.809.607.489,45 |
| Avoirs en banque |  | 102.517.845,72 |
| Intérêts à recevoir sur compte courant |  | 272.804,27 |
| Intérêts à recevoir sur obligations |  | 8.027.304,39 |
| Dividendes à recevoir sur actions |  | 468.119,41 |
| Montants à recevoir sur souscriptions |  | 1.870.230,18 |
| Dépôts de garantie sur futures | 7 | 10.592.045,38 |
| Collatéral sur changes à terme | 8 | 18.050.000,00 |
| Taxes et frais payés d'avance | 4 | 1.062.654,03 |
| Total Actif |  | 4.952.468.492,83 |
| Exigible |  |  |
| Taxes et frais à payer | 2 | 12.532.797,58 |
| Intérêts débiteurs à payer |  | 2.607,59 |
| Montants à payer sur rachats |  | 7.893.740,45 |
| Pertes non réalisées sur changes à terme | 8 | 17.554.744,10 |
| Montants à payer au broker sur futures |  | 0,00 |
| Total Exigible |  | 37.983.889,72 |
| Actif net à la fin de la période |  | 4.914.484.603,11 |
| Nombre d'actions en circulation (à la fin de la période) |  |  |
| - A |  | 21.227.555,635 |
| - B |  | 10.134.992,674 |
| - C1 |  | 4.105.156,444 |
| - C2 |  | 6.033.588,017 |
| - D1 |  | 10.479.417,107 |
| - D2 |  | 12.275.764,659 |
| Valeur Nette d'inventaire par action (à la fin de la période) |  |  |
| - A |  | 52,90 |
| - B |  | 124,73 |
| - C1 |  | 126,80 |
| - C2 |  | 128,39 |
| - D1 |  | 53,77 |
| - D2 |  | 54,47 |

|  |
| --- |
| High |
|  |
|  | Notes | Valeur (en EUR) |
|  |
| Actif |  |  |
| Portefeuille-titres à la valeur d'évaluation | 1a | 1.259.866.339,55 |
| Avoirs en banque |  | 28.397.562,92 |
| Intérêts à recevoir sur compte courant |  | 74.069,92 |
| Intérêts à recevoir sur obligations |  | 240.370,51 |
| Dividendes à recevoir sur actions |  | 167.392,62 |
| Montants à recevoir sur souscriptions |  | 904.026,64 |
| Dépôts de garantie sur futures | 7 | 1.609.176,81 |
| Collatéral sur changes à terme | 8 | 1.640.000,00 |
| Taxes et frais payés d'avance | 4 | 264.361,42 |
| Total Actif |  | 1.293.163.300,39 |
| Exigible |  |  |
| Taxes et frais à payer | 2 | 3.637.476,13 |
| Intérêts débiteurs à payer |  | 758,80 |
| Montants à payer sur rachats |  | 2.638.856,59 |
| Pertes non réalisées sur changes à terme | 8 | 1.683.759,75 |
| Montants à payer au broker sur futures |  | 0,00 |
| Total Exigible |  | 7.960.851,27 |
| Actif net à la fin de la période |  | 1.285.202.449,12 |
| Nombre d'actions en circulation (à la fin de la période) |  |  |
| - A |  | 4.554.590,402 |
| - B |  | 2.813.440,827 |
| - C1 |  | 1.361.368,220 |
| - C2 |  | 1.850.584,616 |
| - D1 |  | 2.492.692,738 |
| - D2 |  | 2.259.472,907 |
| Valeur Nette d'inventaire par action (à la fin de la période) |  |  |
| - A |  | 59,46 |
| - B |  | 118,95 |
| - C1 |  | 120,92 |
| - C2 |  | 122,25 |
| - D1 |  | 60,46 |
| - D2 |  | 61,15 |

|  |
| --- |
| Medium Low |
|  |
|  | Notes | Valeur (en EUR) |
|  |
| Actif |  |  |
| Portefeuille-titres à la valeur d'évaluation | 1a | 1.076.813.011,01 |
| Avoirs en banque |  | 34.155.457,34 |
| Intérêts à recevoir sur compte courant |  | 77.978,63 |
| Intérêts à recevoir sur obligations |  | 1.575.529,01 |
| Dividendes à recevoir sur actions |  | 79.696,38 |
| Montants à recevoir sur souscriptions |  | 82.834,35 |
| Dépôts de garantie sur futures | 7 | 1.838.775,61 |
| Collatéral sur changes à terme | 8 | 3.660.000,00 |
| Taxes et frais payés d'avance | 4 | 247.599,41 |
| Total Actif |  | 1.118.530.881,74 |
| Exigible |  |  |
| Taxes et frais à payer | 2 | 2.760.834,82 |
| Intérêts débiteurs à payer |  | 115,77 |
| Montants à payer sur rachats |  | 103.804,99 |
| Pertes non réalisées sur changes à terme | 8 | 3.547.600,86 |
| Montants à payer au broker sur futures |  | 0,00 |
| Total Exigible |  | 6.412.356,44 |
| Actif net à la fin de la période |  | 1.112.118.525,30 |
| Nombre d'actions en circulation (à la fin de la période) |  |  |
| - A |  | 4.573.232,842 |
| - B |  | 4.099.806,740 |
| - C1 |  | 1.502.900,414 |
| - C2 |  | 2.072.849,465 |
| - D1 |  | 2.007.872,980 |
| - D2 |  | 2.200.891,760 |
| Valeur Nette d'inventaire par action (à la fin de la période) |  |  |
| - A |  | 64,03 |
| - B |  | 70,34 |
| - C1 |  | 71,22 |
| - C2 |  | 72,01 |
| - D1 |  | 64,86 |
| - D2 |  | 65,60 |

|  |
| --- |
| Low |
|  |
|  | Notes | Valeur (en EUR) |
|  |
| Revenus |  |  |
| Dividendes sur actions | 1f | 211.316,61 |
| Intérêts sur obligations | 1f | 1.375.127,98 |
| Intérêts créditeurs |  | 146.739,60 |
| Récupérations de taxes |  | 0,00 |
| Total Revenus |  | 1.733.184,19 |
| Charges |  |  |
| Commission de gestion | 3 | 2.435.421,44 |
| Commission de banque dépositaire | 6 | 73.813,05 |
| Taxe d'abonnement | 4 | 306.223,64 |
| Frais d'administration | 5 | 209.718,53 |
| Frais et commissions divers |  | 8.741,33 |
| Frais de transactions |  | 48.442,67 |
| Intérêts débiteurs |  | 2.504,87 |
| Redevance aux autorités étrangères |  | 4.940,31 |
| Total Charges |  | 3.089.805,84 |
| Revenus / Pertes Net(te)s |  | -1.356.621,65 |
| Plus ou moins-value nette réalisée |  |  |
| - sur investissements | 1b | 5.510.791,99 |
| - sur devises |  | 102.996,01 |
| - sur changes à terme |  | -484.128,92 |
| - sur futures |  | -1.297.477,63 |
| Bénéfice / (Perte) Net(te) réalisé(e) |  | 2.475.559,80 |
| Variation de la plus ou moins-value nette non réalisée |  |  |
| - sur investissements | 1e | -2.922.488,41 |
| - sur devises |  | 215.346,48 |
| - sur changes à terme |  | -2.161.808,30 |
| - sur futures |  | 1.735.845,30 |
| Résultat net des opérations |  | -657.545,13 |
| - Souscriptions |  | 19.993.873,11 |
| - Rachats |  | -55.157.238,54 |
| Dividendes payés | 10 | -1.254.898,32 |
| Variations de l'actif net |  | -37.075.808,88 |
| Actif net au début de la période |  | 594.315.792,24 |
| Actif net à la fin de la période |  | 557.239.983,36 |

|  |
| --- |
| Medium |
|  |
|  | Notes | Valeur (en EUR) |
|  |
| Revenus |  |  |
| Dividendes sur actions | 1f | 3.123.428,62 |
| Intérêts sur obligations | 1f | 10.261.711,36 |
| Intérêts créditeurs |  | 960.420,45 |
| Récupérations de taxes |  | 0,00 |
| Total Revenus |  | 14.345.560,43 |
| Charges |  |  |
| Commission de gestion | 3 | 22.125.102,59 |
| Commission de banque dépositaire | 6 | 638.180,74 |
| Taxe d'abonnement | 4 | 2.956.221,59 |
| Frais d'administration | 5 | 1.657.922,36 |
| Frais et commissions divers |  | 60.937,83 |
| Frais de transactions |  | 693.384,92 |
| Intérêts débiteurs |  | 6.799,72 |
| Redevance aux autorités étrangères |  | 5.053,96 |
| Total Charges |  | 28.143.603,71 |
| Revenus / Pertes Net(te)s |  | -13.798.043,28 |
| Plus ou moins-value nette réalisée |  |  |
| - sur investissements | 1b | 91.554.450,85 |
| - sur devises |  | 1.132.172,82 |
| - sur changes à terme |  | -6.810.886,73 |
| - sur futures |  | -11.104.193,30 |
| Bénéfice / (Perte) Net(te) réalisé(e) |  | 60.973.500,36 |
| Variation de la plus ou moins-value nette non réalisée |  |  |
| - sur investissements | 1e | -70.289.122,61 |
| - sur devises |  | 986.041,47 |
| - sur changes à terme |  | -19.482.707,85 |
| - sur futures |  | 2.438.084,12 |
| Résultat net des opérations |  | -25.374.204,51 |
| - Souscriptions |  | 99.708.458,33 |
| - Rachats |  | -297.413.539,67 |
| Dividendes payés | 10 | -12.401.573,46 |
| Variations de l'actif net |  | -235.480.859,31 |
| Actif net au début de la période |  | 5.149.965.462,42 |
| Actif net à la fin de la période |  | 4.914.484.603,11 |

|  |
| --- |
| High |
|  |
|  | Notes | Valeur (en EUR) |
|  |
| Revenus |  |  |
| Dividendes sur actions | 1f | 1.225.067,99 |
| Intérêts sur obligations | 1f | 564.528,69 |
| Intérêts créditeurs |  | 268.574,72 |
| Récupérations de taxes |  | 3,71 |
| Total Revenus |  | 2.058.175,11 |
| Charges |  |  |
| Commission de gestion | 3 | 6.475.566,61 |
| Commission de banque dépositaire | 6 | 168.613,03 |
| Taxe d'abonnement | 4 | 747.300,96 |
| Frais d'administration | 5 | 443.404,67 |
| Frais et commissions divers |  | 16.563,84 |
| Frais de transactions |  | 271.718,31 |
| Intérêts débiteurs |  | 16.708,95 |
| Redevance aux autorités étrangères |  | 5.053,96 |
| Total Charges |  | 8.144.930,33 |
| Revenus / Pertes Net(te)s |  | -6.086.755,22 |
| Plus ou moins-value nette réalisée |  |  |
| - sur investissements | 1b | 32.757.932,87 |
| - sur devises |  | 144.621,25 |
| - sur changes à terme |  | -1.678.777,04 |
| - sur futures |  | -768.672,57 |
| Bénéfice / (Perte) Net(te) réalisé(e) |  | 24.368.349,29 |
| Variation de la plus ou moins-value nette non réalisée |  |  |
| - sur investissements | 1e | -12.253.448,27 |
| - sur devises |  | 183.376,80 |
| - sur changes à terme |  | -1.864.894,81 |
| - sur futures |  | -797.536,89 |
| Résultat net des opérations |  | 9.635.846,12 |
| - Souscriptions |  | 35.129.646,80 |
| - Rachats |  | -75.780.052,33 |
| Dividendes payés | 10 | -2.986.158,18 |
| Variations de l'actif net |  | -34.000.717,59 |
| Actif net au début de la période |  | 1.319.203.166,71 |
| Actif net à la fin de la période |  | 1.285.202.449,12 |

|  |
| --- |
| Medium Low |
|  |
|  | Notes | Valeur (en EUR) |
|  |
| Revenus |  |  |
| Dividendes sur actions | 1f | 564.180,97 |
| Intérêts sur obligations | 1f | 2.337.990,80 |
| Intérêts créditeurs |  | 308.092,28 |
| Récupérations de taxes |  | 0,00 |
| Total Revenus |  | 3.210.264,05 |
| Charges |  |  |
| Commission de gestion | 3 | 4.877.016,24 |
| Commission de banque dépositaire | 6 | 146.979,29 |
| Taxe d'abonnement | 4 | 663.401,03 |
| Frais d'administration | 5 | 387.737,96 |
| Frais et commissions divers |  | 14.870,19 |
| Frais de transactions |  | 131.676,63 |
| Intérêts débiteurs |  | 610,02 |
| Redevance aux autorités étrangères |  | 5.053,95 |
| Total Charges |  | 6.227.345,31 |
| Revenus / Pertes Net(te)s |  | -3.017.081,26 |
| Plus ou moins-value nette réalisée |  |  |
| - sur investissements | 1b | 15.316.540,21 |
| - sur devises |  | 251.466,27 |
| - sur changes à terme |  | -1.160.001,72 |
| - sur futures |  | -2.210.111,98 |
| Bénéfice / (Perte) Net(te) réalisé(e) |  | 9.180.811,52 |
| Variation de la plus ou moins-value nette non réalisée |  |  |
| - sur investissements | 1e | -7.395.620,46 |
| - sur devises |  | 307.122,82 |
| - sur changes à terme |  | -4.055.539,27 |
| - sur futures |  | 2.148.914,06 |
| Résultat net des opérations |  | 185.688,67 |
| - Souscriptions |  | 7.221.076,03 |
| - Rachats |  | -58.411.039,27 |
| Dividendes payés | 10 | -2.843.687,35 |
| Variations de l'actif net |  | -53.847.961,92 |
| Actif net au début de la période |  | 1.165.966.487,22 |
| Actif net à la fin de la période |  | 1.112.118.525,30 |

|  |
| --- |
| Low |
|  |
| Dénomination | Nominal / Quantité | Devise | Valeur d’acquisition (en EUR) | Valeur d’évaluation (en EUR) | % de l'actif net |
|  |
| Valeurs mobilières admises à la cote officielle d'une bourse de valeurs ou négociées sur un autre marché réglementé |  |  |  |  |  |
| Actions Cotées ou Négociées |  |  |  |  |  |
| NESTLE SA-REG | 8.337 | CHF | 688.492,05 | 892.964,10 | 0,16% |
| ROCHE HOLDING AG-GENUSSCHEIN | 4.618 | CHF | 1.484.302,00 | 1.194.133,60 | 0,21% |
| Total FRANC SUISSE |  |  | 2.172.794,05 | 2.087.097,70 | 0,37% |
| AIR LIQUIDE | 5.643 | EUR | 478.783,46 | 901.977,12 | 0,16% |
| ANHEUSER-BUSCH INBEV | 13.500 | EUR | 687.839,63 | 708.885,00 | 0,13% |
| ASML HOLDING NV | 1.320 | EUR | 865.472,35 | 738.012,00 | 0,13% |
| BNP PARIBAS S.A. | 5.150 | EUR | 283.086,88 | 311.214,50 | 0,06% |
| ENEL AZ | 188.450 | EUR | 1.399.234,99 | 1.096.779,00 | 0,20% |
| KBC GROUP S.A. | 12.520 | EUR | 870.755,22 | 740.432,80 | 0,13% |
| LVMH MOET HENNESSY LOUIS VUI | 1.130 | EUR | 435.892,01 | 809.532,00 | 0,15% |
| SOLVAY & CIE | 4.573 | EUR | 380.537,32 | 479.479,05 | 0,09% |
| TOTAL ENERGIES SE | 24.000 | EUR | 1.129.341,79 | 1.495.440,00 | 0,27% |
| Total EURO |  |  | 6.530.943,65 | 7.281.751,47 | 1,31% |
| ASTRAZENECA PLC | 2.103 | GBP | 154.421,81 | 269.166,54 | 0,05% |
| DIAGEO PLC | 15.827 | GBP | 652.061,86 | 553.598,32 | 0,10% |
| Total LIVRE STERLING |  |  | 806.483,67 | 822.764,86 | 0,15% |
| ASSA ABLOY AB -B- | 10.500 | SEK | 166.798,14 | 217.439,69 | 0,04% |
| Total COURONNE SUÉDOISE |  |  | 166.798,14 | 217.439,69 | 0,04% |
| ABBOTT LABORATORIES | 9.035 | USD | 889.544,29 | 826.483,83 | 0,15% |
| ALPHABET INC. -C- | 6.780 | USD | 318.205,68 | 844.338,13 | 0,15% |
| AMAZON.COM INC. | 15.985 | USD | 1.729.301,68 | 1.919.256,86 | 0,34% |
| APPLE INC. | 4.800 | USD | 724.168,53 | 776.205,90 | 0,14% |
| BOSTON SCIENTIFIC CORP. | 17.811 | USD | 541.907,48 | 888.236,88 | 0,16% |
| COMCAST CORP-CLASS A | 7.900 | USD | 233.842,53 | 330.848,64 | 0,06% |
| JPMORGAN CHASE & CO | 6.200 | USD | 525.724,17 | 849.231,64 | 0,15% |
| MICROSOFT CORP. | 2.305 | USD | 416.195,29 | 687.417,95 | 0,12% |
| UNITEDHEALTH | 1.300 | USD | 573.846,14 | 619.076,27 | 0,11% |
| Total DOLLAR DES ETATS-UNIS |  |  | 5.952.735,79 | 7.741.096,10 | 1,39% |
| Total Actions Cotées ou Négociées |  |  | 15.629.755,30 | 18.150.149,82 | 3,26% |
| Obligations |  |  |  |  |  |
| ABN AMRO 4,25 22-30 | 700.000 | EUR | 699.650,00 | 685.527,50 | 0,12% |
| ABN AMRO BANK 0,875 19-150124 | 1.500.000 | EUR | 1.491.195,00 | 1.486.687,50 | 0,27% |
| AEDIFICA 0,75 21-090931 | 700.000 | EUR | 699.125,00 | 500.913,00 | 0,09% |
| AHOLD DELHAIZE N.V. 0,875 17-190924 | 1.500.000 | EUR | 1.568.820,00 | 1.456.830,00 | 0,26% |
| AMERICAN MEDICAL 1,875 22-080334 | 2.000.000 | EUR | 1.635.700,00 | 1.586.970,00 | 0,28% |
| ANHEUSER BUSCH INBEV 1,125 19-010727 | 1.800.000 | EUR | 1.802.809,46 | 1.640.421,00 | 0,29% |

|  |
| --- |
| Low |
|  |
| Dénomination | Nominal / Quantité | Devise | Valeur d’acquisition (en EUR) | Valeur d’évaluation (en EUR) | % de l'actif net |
|  |
| ARGAN 1,011 21-171126 | 1.500.000 | EUR | 1.509.900,00 | 1.306.372,50 | 0,23% |
| ARGENTA SPAARBANK 1,00 20-290127 | 1.000.000 | EUR | 995.300,00 | 887.655,00 | 0,16% |
| AROUNDTOWN S.A. 0,00 20-160726 | 800.000 | EUR | 785.980,00 | 646.980,00 | 0,12% |
| BECTON DICKINSON 1,90 16-151226 | 1.000.000 | EUR | 1.002.600,00 | 937.840,00 | 0,17% |
| BLACKROCK INC. 1,25 15-060525 | 1.200.000 | EUR | 1.294.992,00 | 1.145.454,00 | 0,21% |
| BNP PARIBAS S.A. FRN 19-230127 | 1.300.000 | EUR | 1.226.166,50 | 1.228.916,00 | 0,22% |
| BPCE S.A. 1,00 19-010425 | 1.100.000 | EUR | 1.098.086,00 | 1.048.173,50 | 0,19% |
| BUONI POLIENNALI 0,50 21-150728 | 2.300.000 | EUR | 2.312.445,30 | 1.942.430,50 | 0,35% |
| BUREAU VERITAS 1,125 19-180127 | 1.000.000 | EUR | 1.033.000,00 | 901.895,00 | 0,16% |
| CIE SAINT GOBAIN 0,625 19-150324 | 1.000.000 | EUR | 996.130,00 | 985.045,00 | 0,18% |
| CITIGROUP INC. 0,75 16-261023 | 1.700.000 | EUR | 1.709.350,00 | 1.696.549,00 | 0,30% |
| CLOVERIE PLC ZURICH 1,50 18-151228 | 800.000 | EUR | 719.976,00 | 714.724,00 | 0,13% |
| COOP RAB 4,00 23-30 | 2.500.000 | EUR | 2.467.350,00 | 2.442.437,50 | 0,44% |
| COOP RABO FRN 23-29 | 500.000 | EUR | 500.000,00 | 493.762,50 | 0,09% |
| DH EUROPE FINANCE 0,45 19-180328 | 1.800.000 | EUR | 1.791.000,00 | 1.550.745,00 | 0,28% |
| ECOLAB INC. 1,00 16-150124 | 1.700.000 | EUR | 1.729.149,90 | 1.684.105,00 | 0,30% |
| ERG SpA 1,875 19-110425 | 1.500.000 | EUR | 1.587.750,00 | 1.445.850,00 | 0,26% |
| FLUXYS BELGIUM 1,75 17-051027 | 1.000.000 | EUR | 1.030.000,00 | 897.455,00 | 0,16% |
| FLUXYS BELGIUM 2,75 14-271129 | 800.000 | EUR | 762.400,00 | 709.252,00 | 0,13% |
| GIMV N.V.N.V. 2,25 21-150329 | 600.000 | EUR | 600.000,00 | 529.131,00 | 0,09% |
| GROUPE BRUX LAMBERT 1,375 17-230524 | 1.500.000 | EUR | 1.519.744,00 | 1.473.690,00 | 0,26% |
| GROUPE BRUX LAMBERT 1,875 18-190625 | 1.000.000 | EUR | 1.016.400,00 | 963.820,00 | 0,17% |
| GRP BRUXLL LAMBERT 3,125 22-060929 | 500.000 | EUR | 496.695,00 | 479.162,50 | 0,09% |
| HEINEKEN N.V. 1,00 16-040526 | 1.000.000 | EUR | 1.059.900,00 | 933.955,00 | 0,17% |
| ITALY BTP 0,40 16-110424 | 1.280.000 | EUR | 1.296.008,04 | 1.270.992,68 | 0,23% |
| ITALY BTP 0,95 21-010337 | 1.200.000 | EUR | 1.203.948,00 | 743.778,00 | 0,13% |
| ITALY BTP 3,00 19-010829 | 6.750.000 | EUR | 7.833.712,50 | 6.317.561,25 | 1,13% |
| ITALY BTP 3,35 18-010335 | 1.500.000 | EUR | 1.824.839,25 | 1.306.972,50 | 0,23% |
| ITALY BTP FRN 16-150528 | 5.100.000 | EUR | 6.029.095,66 | 6.073.056,10 | 1,09% |
| KBC GROUP 0,75 21-310531 | 800.000 | EUR | 799.600,00 | 624.412,00 | 0,11% |
| KFW 0,125 22-090132 | 1.400.000 | EUR | 1.155.322,00 | 1.076.621,00 | 0,19% |
| LA LORRAINE BAKERY 3,00 20-151227 | 1.152.000 | EUR | 1.159.129,00 | 1.070.674,56 | 0,19% |
| LA POSTE 0,625 20-211026 | 1.500.000 | EUR | 1.497.587,36 | 1.356.075,00 | 0,24% |
| LVMH 0,75 20-070425 | 500.000 | EUR | 498.585,00 | 478.120,00 | 0,09% |
| NN BANK N.V. NETHERLDS 0,50 21-210928 | 1.500.000 | EUR | 1.255.800,00 | 1.251.720,00 | 0,22% |
| PERNOD RICARD 0,50 19-241027 | 800.000 | EUR | 797.688,00 | 707.640,00 | 0,13% |
| PERNOD RICARD 2,125 14-270924 | 1.000.000 | EUR | 1.074.000,00 | 982.440,00 | 0,18% |
| PORTUGAL 2,875 15-151025 | 3.500.000 | EUR | 3.965.745,00 | 3.478.265,00 | 0,62% |
| SOFINA 1,00 21-230928 | 1.700.000 | EUR | 1.686.088,00 | 1.332.052,00 | 0,24% |
| SPAIN KINGDOM 1,85 19-300735 | 3.000.000 | EUR | 3.282.129,81 | 2.394.900,00 | 0,43% |
| SPAIN KINGDOM 1,95 16-300426 | 4.800.000 | EUR | 5.242.560,00 | 4.622.808,00 | 0,83% |
| SPAIN KINGDOM -INFLATION LINKED- 0,65 16-301127 | 1.200.000 | EUR | 1.408.311,46 | 1.437.532,21 | 0,26% |
| SPAIN KINGDOM -INFLATION LINKED- 1,80 13-301124 | 7.900.000 | EUR | 9.250.607,24 | 9.773.172,46 | 1,75% |
| SYMRISE 1,25 19-291125 | 1.500.000 | EUR | 1.490.374,13 | 1.412.310,00 | 0,25% |
| THERMO FISHER 1,75 20-150427 | 600.000 | EUR | 599.119,61 | 558.240,00 | 0,10% |
| THERMO FISHER SCIENTIFIC 0,50 19-010328 | 1.500.000 | EUR | 1.474.500,00 | 1.296.382,50 | 0,23% |
| TMVOLKSWAGEN 4,70 13-111228 | 1.250.000 | EUR | 1.246.700,00 | 1.239.387,50 | 0,22% |
| TOTAL ENERGIES 1,491 20-080427 | 1.800.000 | EUR | 1.800.000,00 | 1.664.946,00 | 0,30% |
| UBS GRP FRN 23-31 | 700.000 | EUR | 697.438,00 | 677.393,50 | 0,12% |
| UCB 1,00 21-300328 | 800.000 | EUR | 798.008,00 | 682.960,00 | 0,12% |
| VERIZON COMMUNICATIONS INC. 0,875 19-080427 | 2.000.000 | EUR | 2.027.724,80 | 1.795.550,00 | 0,32% |

|  |
| --- |
| Low |
|  |
| Dénomination | Nominal / Quantité | Devise | Valeur d’acquisition (en EUR) | Valeur d’évaluation (en EUR) | % de l'actif net |
|  |
| VERIZON COMMUNICATIONS INC.1,30 20-180533 | 800.000 | EUR | 831.560,00 | 609.056,00 | 0,11% |
| VGP N.V. 1,50 21-080429 | 800.000 | EUR | 795.032,40 | 596.696,00 | 0,11% |
| VINCI S.A. 0,00 20-271128 | 500.000 | EUR | 502.365,00 | 415.570,00 | 0,07% |
| Total EURO |  |  | 100.665.192,42 | 91.650.033,26 | 16,45% |
| UK TREAS 3,25 23-33 | 1.100.000 | GBP | 1.154.633,25 | 1.154.232,77 | 0,21% |
| Total LIVRE STERLING |  |  | 1.154.633,25 | 1.154.232,77 | 0,21% |
| AMAZON 3,00 22-25 | 670.000 | USD | 602.022,04 | 611.568,41 | 0,11% |
| APPLE INC 0,70 21-26 | 1.200.000 | USD | 1.062.143,44 | 1.021.544,27 | 0,18% |
| DEUT TEL 4,375 18-28 | 1.000.000 | USD | 924.090,84 | 896.628,10 | 0,16% |
| JPMORGAN FRN 20-26 | 1.000.000 | USD | 883.153,96 | 886.814,64 | 0,16% |
| US TREASURY 0,625 20-150530 | 500.000 | USD | 432.962,65 | 365.591,80 | 0,07% |
| US TREASURY 1,125 20-150540 | 4.800.000 | USD | 2.959.260,61 | 2.608.264,47 | 0,47% |
| US TREASURY 1,125 21-310828 | 6.600.000 | USD | 5.587.361,85 | 5.279.707,76 | 0,95% |
| US TREASURY 2,25 17-150227 | 10.200.000 | USD | 9.285.146,98 | 8.893.764,74 | 1,60% |
| US TREASURY 2,75 22-150832 | 710.000 | USD | 683.121,20 | 580.909,09 | 0,10% |
| US TREASURY 2,875 18-310725 | 9.800.000 | USD | 8.747.484,81 | 8.894.989,65 | 1,60% |
| US TREASURY 3,00 22-150852 | 2.100.000 | USD | 1.928.054,95 | 1.446.074,38 | 0,26% |
| US TREASURY -INFLATION LINKED- 0,375 17-150127 | 6.500.000 | USD | 6.101.755,04 | 7.229.033,29 | 1,30% |
| US TREASURY NOTES 1,75 19-151129 | 2.500.000 | USD | 2.210.313,13 | 2.012.278,63 | 0,36% |
| Total DOLLAR DES ETATS-UNIS |  |  | 41.406.871,50 | 40.727.169,23 | 7,31% |
| Total Obligations |  |  | 143.226.697,17 | 133.531.435,26 | 23,96% |
| Total Valeurs mobilières admises à la cote officielle d'une bourse de valeurs ou négociées sur un autre marché réglementé |  |  | 158.856.452,47 | 151.681.585,08 | 27,22% |
| Fonds d'investissements |  |  |  |  |  |
| AMUNDI ULTRA SHORT-TERM BOND SRI -CAP- | 1 | EUR | 13.432.693,59 | 13.536.329,72 | 2,43% |
| DPAM -B- BONDS EUR MEDIUM TERM -J- | 1.877 | EUR | 47.672.111,41 | 44.826.682,93 | 8,04% |
| DPAM -B- EQUIT. JAPAN ESG J | 68 | EUR | 1.700.000,00 | 1.732.541,40 | 0,31% |
| DPAM -B- EQUIT. DRAGONS SUSTAINABLE -J- | 215 | EUR | 5.746.763,26 | 4.007.761,25 | 0,72% |
| DPAM -B- EQUIT. EUROPE DIVIDEND -J- | 134 | EUR | 3.554.115,75 | 4.114.495,60 | 0,74% |
| DPAM -B- EQUIT. EUROPE SUSTAINABLE -J- | 322 | EUR | 10.480.001,10 | 12.255.967,22 | 2,20% |
| DPAM -B- EQUIT. EUR SMALL CAPS SUSTAINABLE -J- | 51 | EUR | 1.335.100,32 | 1.470.586,39 | 0,26% |
| DPAM -B- EQUIT. NEWGEMS SUSTAINABLE -J- | 76 | EUR | 2.027.707,20 | 2.355.600,24 | 0,42% |
| DPAM -B- EQUIT. US BEHAVIORAL VALUE -J- | 319 | EUR | 8.607.323,18 | 12.909.013,30 | 2,32% |
| DPAM -B- EQUIT. US ESG LEADER INDEX -J- | 160 | EUR | 14.777.602,80 | 22.728.782,40 | 4,08% |
| DPAM -B- EQUIT. WORLD SUSTAINABLE -J- | 125 | EUR | 3.941.653,74 | 5.697.699,56 | 1,02% |
| DPAM -B- REAL ESTATE EUROPE SUSTAINABLE -J- | 129 | EUR | 3.387.732,38 | 2.790.251,88 | 0,50% |
| DPAM CAP -B- EQUIT. US DIVIDENDE SUSTAINABLE -J- -CAP- | 88 | EUR | 3.979.652,76 | 4.170.067,44 | 0,75% |
| DPAM CAPITAL B EQUITIES EUROPE INDEX -J- | 330 | EUR | 11.390.624,00 | 11.221.699,50 | 2,01% |
| DPAM EQUITIES L EUR BEHAVIORAL VALUE J -CAP- | 265 | EUR | 6.551.332,59 | 6.576.383,10 | 1,18% |
| DPAM L BDS EMCS J | 48 | EUR | 1.200.000,00 | 1.226.157,12 | 0,22% |
| DPAM L BONDS CLIMATE TRENDS SUSTAINABLE -J- | 920 | EUR | 23.358.293,83 | 20.171.542,80 | 3,62% |
| DPAM L BONDS CORP. HIGH YIELD -J- -CAP- | 105 | EUR | 2.722.257,70 | 2.873.107,65 | 0,52% |
| DPAM L BONDS CORPORATE EUR -J- | 1.937 | EUR | 49.563.587,97 | 45.985.019,21 | 8,25% |
| DPAM L BONDS EMERGING MARKETS SUSTAINABLE -J- -CAP- | 535 | EUR | 13.836.438,78 | 15.613.021,48 | 2,80% |

|  |
| --- |
| Low |
|  |
| Dénomination | Nominal / Quantité | Devise | Valeur d’acquisition (en EUR) | Valeur d’évaluation (en EUR) | % de l'actif net |
|  |
| DPAM L BONDS EUR HIGH YIELD SHORT-TERM -J- -CAP- | 199 | EUR | 4.978.138,14 | 5.107.878,27 | 0,92% |
| DPAM L BONDS EUR QUALITY -J- -CAP- | 2.765 | EUR | 68.502.468,44 | 63.696.724,35 | 11,43% |
| DPAM L BONDS GOVERNMENTT SUSTAINABLE -J- -CAP- | 136 | EUR | 3.312.478,56 | 3.024.694,40 | 0,54% |
| DPAM L BONDS GOVT GLOBAL -J- -CAP- | 298 | EUR | 7.112.896,69 | 7.103.840,22 | 1,27% |
| DPAM L BONDS GOVT SUSTAINABLE -J- -CAP- | 339 | EUR | 8.475.000,00 | 6.920.325,66 | 1,24% |
| DPAM L BONDS UNIV UNCONST -J- -CAP- | 990 | EUR | 25.573.422,64 | 25.475.107,69 | 4,57% |
| DPAML EQUIT. EMERGING MARKETS ESG LEAD INDEX -J- -CAP- | 390 | EUR | 9.521.115,64 | 7.786.853,10 | 1,40% |
| DPWM STRATEGIES ACTIONS SI | 16 | EUR | 1.713.815,90 | 1.720.854,40 | 0,31% |
| OSTRUM SRI MONEY PLUS -I- -CAP- | 10 | EUR | 1.030.194,48 | 1.048.585,20 | 0,19% |
| SELECT EQUIT. EMERGING MLTI MGMT -Z- EUR | 77 | EUR | 7.044.674,26 | 7.483.864,76 | 1,34% |
| SELECT EQUIT. JAPAN MULTI MANAGMENT -Z- -CAP- | 28 | EUR | 3.796.992,75 | 5.694.664,92 | 1,02% |
| Total EURO |  |  | 370.326.189,86 | 371.326.103,16 | 66,64% |
| ALLIANZ GLOBAL INVESTMENT FUND CHINA -A- -CAP- | 1.904 | USD | 2.361.528,01 | 1.919.838,19 | 0,34% |
| BROWN ADV US SUST GR | 146.575 | USD | 1.952.031,05 | 1.953.410,39 | 0,35% |
| ISHARES SP 500 ENERGY SECTOR UCITS | 158.000 | USD | 1.059.381,08 | 1.330.595,04 | 0,24% |
| MORGAN STANLEY INVESTMENT US GROWTH FUND Z | 17.550 | USD | 2.131.160,36 | 1.695.574,50 | 0,30% |
| NEUBERGER BERMAN US SMALL I3 -CAP- | 100 | USD | 859.686,76 | 1.358.425,04 | 0,24% |
| POLEN CAPITAL FOCUS U.S. GROWTH US -DIS- | 151.720 | USD | 1.817.510,64 | 2.120.855,73 | 0,38% |
| Total DOLLAR DES ETATS-UNIS |  |  | 10.181.297,90 | 10.378.698,89 | 1,86% |
| Total Fonds d'investissements |  |  | 380.507.487,76 | 381.704.802,05 | 68,50% |
| Autres valeurs mobilières |  |  |  |  |  |
| 3I EUROPARTNERS V -B- PE | 7.488 | EUR | 285,82 | 7.487,50 | 0,00% |
| ATLANTIC CERTIFICATES -REG- | 20 | EUR | 701.835,00 | 619.072,00 | 0,11% |
| CARLYLE EUROPE PARTNER III PE | 9.117 | EUR | 482,97 | 9.116,58 | 0,00% |
| DEGROOF ALTERNATIVE FOHF LOW VOLATILITY -A- -LIQUIDATION- | 24.500 | EUR | 597.240,02 | 115.395,00 | 0,02% |
| DEGROOF ALTERNATIVE FOHF LOW VOLATILITY -B- -LIQUIDATION- | 142.000 | EUR | 0,00 | 0,00 | 0,00% |
| DEGROOF PRIVATE - RENEWABLE ENERGY II -B- -REG- | 0 | EUR | 417,00 | 2.259,10 | 0,00% |
| SIGMA FINANCE CORP. CAPITAL FRN 06-310314 | 3.000.000 | EUR | 2.250.000,00 | 0,00 | 0,00% |
| Total EURO |  |  | 3.550.260,81 | 753.330,18 | 0,14% |
| CARLYLE US PARTNERS V PE | 49.882 | USD | 956,70 | 47.114,43 | 0,01% |
| NORTEL NETWORKS CORP. -FAILLITE- | 250 | USD | 172.566,39 | 0,00 | 0,00% |
| WISDOMTREE PHYSICAL SWISS GOLD 09-PERPETUAL | 27.743 | USD | 3.807.108,42 | 4.665.409,62 | 0,84% |
| Total DOLLAR DES ETATS-UNIS |  |  | 3.980.631,51 | 4.712.524,05 | 0,85% |
| Total Autres valeurs mobilières |  |  | 7.530.892,32 | 5.465.854,23 | 0,98% |
| Total du Portefeuille-Titres |  |  | 546.894.832,55 | 538.852.241,36 | 96,70% |

|  |
| --- |
| Medium |
|  |
| Dénomination | Nominal / Quantité | Devise | Valeur d’acquisition (en EUR) | Valeur d’évaluation (en EUR) | % de l'actif net |
|  |
| Valeurs mobilières admises à la cote officielle d'une bourse de valeurs ou négociées sur un autre marché réglementé |  |  |  |  |  |
| Actions Cotées ou Négociées |  |  |  |  |  |
| TELUS CORP. NON-CANADIAN | 10.000 | CAD | 80.014,96 | 154.953,19 | 0,00% |
| Total DOLLAR CANADIEN |  |  | 80.014,96 | 154.953,19 | 0,00% |
| NESTLE SA-REG | 151.355 | CHF | 12.354.846,46 | 16.211.416,76 | 0,33% |
| ROCHE HOLDING AG-GENUSSCHEIN | 111.344 | CHF | 35.024.439,50 | 28.791.600,64 | 0,59% |
| Total FRANC SUISSE |  |  | 47.379.285,96 | 45.003.017,40 | 0,92% |
| AIR LIQUIDE | 90.042 | EUR | 7.642.924,84 | 14.392.313,28 | 0,29% |
| ANHEUSER-BUSCH INBEV | 245.000 | EUR | 12.483.023,69 | 12.864.950,00 | 0,26% |
| ASML HOLDING NV | 23.550 | EUR | 15.440.524,99 | 13.166.805,00 | 0,27% |
| BNP PARIBAS S.A. | 91.940 | EUR | 5.053.790,56 | 5.555.934,20 | 0,11% |
| ENEL AZ | 2.845.100 | EUR | 21.086.816,29 | 16.558.482,00 | 0,34% |
| KBC GROUP S.A. | 168.701 | EUR | 11.599.217,10 | 9.976.977,14 | 0,20% |
| LVMH MOET HENNESSY LOUIS VUI | 21.085 | EUR | 10.667.800,71 | 15.105.294,00 | 0,31% |
| SOLVAY & CIE | 62.474 | EUR | 5.198.705,07 | 6.550.398,90 | 0,13% |
| TOTAL ENERGIES SE | 429.000 | EUR | 20.109.979,46 | 26.730.990,00 | 0,54% |
| Total EURO |  |  | 109.282.782,71 | 120.902.144,52 | 2,46% |
| ASTRAZENECA PLC | 44.621 | GBP | 3.276.521,57 | 5.711.117,62 | 0,12% |
| DIAGEO PLC | 262.415 | GBP | 10.811.827,71 | 9.178.776,92 | 0,19% |
| Total LIVRE STERLING |  |  | 14.088.349,28 | 14.889.894,54 | 0,30% |
| ASSA ABLOY AB -B- | 163.000 | SEK | 2.593.534,29 | 3.375.492,28 | 0,07% |
| Total COURONNE SUÉDOISE |  |  | 2.593.534,29 | 3.375.492,28 | 0,07% |
| ABBOTT LABORATORIES | 160.760 | USD | 15.834.538,73 | 14.705.649,11 | 0,30% |
| ALPHABET INC. -C- | 79.460 | USD | 3.729.583,79 | 9.895.443,68 | 0,20% |
| AMAZON.COM INC. | 266.355 | USD | 30.106.153,54 | 31.980.210,25 | 0,65% |
| APPLE INC. | 80.600 | USD | 12.039.669,26 | 13.033.790,79 | 0,27% |
| BOSTON SCIENTIFIC CORP. | 267.167 | USD | 8.128.671,35 | 13.323.652,99 | 0,27% |
| COMCAST CORP-CLASS A | 240.673 | USD | 7.144.945,26 | 10.079.282,95 | 0,21% |
| JPMORGAN CHASE & CO | 91.000 | USD | 7.716.277,80 | 12.464.528,93 | 0,25% |
| MICROSOFT CORP. | 33.538 | USD | 6.055.682,46 | 10.002.005,67 | 0,20% |
| UNITEDHEALTH | 23.100 | USD | 10.196.850,84 | 11.000.509,09 | 0,22% |
| Total DOLLAR DES ETATS-UNIS |  |  | 100.952.373,03 | 126.485.073,46 | 2,57% |
| Total Actions Cotées ou Négociées |  |  | 274.376.340,23 | 310.810.575,39 | 6,32% |
| Obligations |  |  |  |  |  |
| ABN AMRO 4,25 22-30 | 8.900.000 | EUR | 8.895.550,00 | 8.715.992,50 | 0,18% |
| AEDIFICA 0,75 21-090931 | 4.000.000 | EUR | 3.995.000,00 | 2.862.360,00 | 0,06% |

|  |
| --- |
| Medium |
|  |
| Dénomination | Nominal / Quantité | Devise | Valeur d’acquisition (en EUR) | Valeur d’évaluation (en EUR) | % de l'actif net |
|  |
| ANHEUSER BUSCH INBEV 1,125 19-010727 | 9.000.000 | EUR | 9.023.171,06 | 8.202.105,00 | 0,17% |
| ARGAN 1,011 21-171126 | 9.000.000 | EUR | 9.046.200,00 | 7.838.235,00 | 0,16% |
| ARGENTA SPAARBANK 1,00 20-290127 | 7.000.000 | EUR | 6.967.100,00 | 6.213.585,00 | 0,13% |
| AROUNDTOWN S.A. 0,00 20-160726 | 3.700.000 | EUR | 3.635.157,50 | 2.992.282,50 | 0,06% |
| BANK AMER FRN 21-28 | 5.000.000 | EUR | 4.287.500,00 | 4.317.850,00 | 0,09% |
| BANK OF AMERICA FRN 22-271026 | 5.000.000 | EUR | 4.732.500,00 | 4.762.900,00 | 0,10% |
| BECTON DICKINSON 1,208 19-040626 | 2.600.000 | EUR | 2.600.000,00 | 2.422.030,00 | 0,05% |
| BELGIUM OLO 0,10 20-220630 | 15.000.000 | EUR | 14.760.150,00 | 12.197.175,00 | 0,25% |
| BLACKROCK INC. 1,25 15-060525 | 6.609.000 | EUR | 7.132.168,44 | 6.308.587,91 | 0,13% |
| BNP PARIBAS S.A. FRN 19-230127 | 11.000.000 | EUR | 10.375.255,00 | 10.398.520,00 | 0,21% |
| BUNDESREP 1,80 22-53 | 20.000.000 | EUR | 17.408.400,00 | 15.204.200,00 | 0,31% |
| BUONI POLIENNALI 0,50 21-150728 | 23.000.000 | EUR | 23.124.453,00 | 19.424.305,00 | 0,40% |
| BUREAU VERITAS 1,125 19-180127 | 4.500.000 | EUR | 4.597.049,00 | 4.058.527,50 | 0,08% |
| CITIGROUP INC. 0,75 16-261023 | 5.000.000 | EUR | 5.006.650,00 | 4.989.850,00 | 0,10% |
| COFINIMMO -SICAFI- 2,00 16-091224 | 1.500.000 | EUR | 1.499.115,00 | 1.453.215,00 | 0,03% |
| COOP RAB 4,00 23-30 | 9.500.000 | EUR | 9.375.930,00 | 9.281.262,50 | 0,19% |
| COOP RABO FRN 23-29 | 3.000.000 | EUR | 3.000.000,00 | 2.962.575,00 | 0,06% |
| DH EUROPE FINANCE 0,45 19-180328 | 12.000.000 | EUR | 11.989.600,00 | 10.338.300,00 | 0,21% |
| EUROPEAN INVESTMENT BANK 5,625 99-150228 | 34.622.000 | EUR | 40.138.038,18 | 37.797.529,84 | 0,77% |
| FLUXYS BELGIUM 2,75 14-271129 | 8.000.000 | EUR | 7.624.000,00 | 7.092.520,00 | 0,14% |
| FRANCE GOVT 0,00 18-251129 | 5.000.000 | EUR | 4.912.950,00 | 4.127.825,00 | 0,08% |
| FRANCE OAT 1,00 16-250527 | 4.700.000 | EUR | 5.152.469,00 | 4.354.291,50 | 0,09% |
| GERMANY 1,70 22-150832 | 36.000.000 | EUR | 33.856.640,00 | 32.968.260,00 | 0,67% |
| GERMANY 2,30 23-33 | 57.000.000 | EUR | 55.938.660,00 | 54.627.660,00 | 1,11% |
| GIMV N.V.N.V. 2,25 21-150329 | 3.400.000 | EUR | 3.400.000,00 | 2.998.409,00 | 0,06% |
| GROUPE BRUX LAMBERT 1,375 17-230524 | 2.600.000 | EUR | 2.631.949,17 | 2.554.396,00 | 0,05% |
| GROUPE BRUX LAMBERT 1,875 18-190625 | 5.000.000 | EUR | 5.082.000,00 | 4.819.100,00 | 0,10% |
| GRP BRUXLL LAMBERT 3,125 22-060929 | 4.000.000 | EUR | 3.973.560,00 | 3.833.300,00 | 0,08% |
| ING GRP 1,375 17-28 | 5.800.000 | EUR | 5.141.526,00 | 5.217.999,00 | 0,11% |
| INTERNATIONAL BANK FOR RECONSTRUCTION & DEVELOPMENT 0,01 20-240428 | 18.000.000 | EUR | 17.962.560,00 | 15.486.030,00 | 0,32% |
| ITALY BTP 0,95 21-010337 | 15.000.000 | EUR | 15.049.350,00 | 9.297.225,00 | 0,19% |
| ITALY BTP 3,00 19-010829 | 33.500.000 | EUR | 39.498.584,05 | 31.353.822,50 | 0,64% |
| ITALY BTP 3,35 18-010335 | 8.500.000 | EUR | 10.423.346,50 | 7.406.177,50 | 0,15% |
| JP MORGAN CHASE & CO FRN 17-180528 | 5.400.000 | EUR | 4.906.980,00 | 4.918.914,00 | 0,10% |
| KBC GROUP 0,75 21-310531 | 5.000.000 | EUR | 4.997.500,00 | 3.902.575,00 | 0,08% |
| KFW 0,05 19-34 | 22.000.000 | EUR | 15.718.362,00 | 15.219.600,00 | 0,31% |
| KFW 0,125 22-090132 | 12.000.000 | EUR | 9.902.760,00 | 9.228.180,00 | 0,19% |
| KINEPOLIS GROUP 2,40 17-151225 | 2.500.000 | EUR | 2.500.000,00 | 2.228.787,50 | 0,05% |
| LA LORRAINE BAKERY 3,00 20-151227 | 2.500.000 | EUR | 2.521.875,00 | 2.323.512,50 | 0,05% |
| LA POSTE 0,625 20-211026 | 8.000.000 | EUR | 7.987.132,56 | 7.232.400,00 | 0,15% |
| PORTUGAL 2,875 15-151025 | 29.500.000 | EUR | 31.000.605,00 | 29.316.805,00 | 0,60% |
| SOFINA 1,00 21-230928 | 12.300.000 | EUR | 12.197.728,00 | 9.637.788,00 | 0,20% |
| SPAIN KINGDOM 1,60 15-300425 | 250.000 | EUR | 258.283,75 | 242.476,25 | 0,00% |
| SPAIN KINGDOM 1,85 19-300735 | 20.000.000 | EUR | 21.880.865,40 | 15.966.000,00 | 0,32% |
| SPAIN KINGDOM 1,95 16-300426 | 55.900.000 | EUR | 61.053.980,00 | 53.836.451,50 | 1,10% |
| SPAIN KINGDOM -INFLATION LINKED- 0,65 16-301127 | 12.000.000 | EUR | 12.426.810,22 | 14.375.322,12 | 0,29% |
| SPAIN KINGDOM -INFLATION LINKED- 1,00 15-301130 | 8.000.000 | EUR | 10.024.560,16 | 9.561.926,45 | 0,19% |
| SYMRISE 1,25 19-291125 | 8.400.000 | EUR | 8.347.891,80 | 7.908.936,00 | 0,16% |
| THERMO FISHER SCIENTIFIC 0,50 19-010328 | 10.000.000 | EUR | 9.868.000,00 | 8.642.550,00 | 0,18% |
| TMVOLKSWAGEN 4,70 13-111228 | 4.000.000 | EUR | 3.989.440,00 | 3.966.040,00 | 0,08% |

|  |
| --- |
| Medium |
|  |
| Dénomination | Nominal / Quantité | Devise | Valeur d’acquisition (en EUR) | Valeur d’évaluation (en EUR) | % de l'actif net |
|  |
| TOYOTA MOTOR CREDIT 0,25 20-160726 | 5.000.000 | EUR | 4.988.450,00 | 4.523.075,00 | 0,09% |
| UBS GRP FRN 23-31 | 5.000.000 | EUR | 4.981.700,00 | 4.838.525,00 | 0,10% |
| UCB 1,00 21-300328 | 2.900.000 | EUR | 2.892.779,00 | 2.475.730,00 | 0,05% |
| VERIZON COMMUNICATIONS INC. 0,875 19-080427 | 4.400.000 | EUR | 4.383.764,00 | 3.950.210,00 | 0,08% |
| VERIZON COMMUNICATIONS INC.1,30 20-180533 | 10.000.000 | EUR | 10.394.500,00 | 7.613.200,00 | 0,15% |
| VGP N.V. 1,50 21-080429 | 8.900.000 | EUR | 8.845.900,50 | 6.638.243,00 | 0,14% |
| VINCI S.A. 0,00 20-271128 | 2.500.000 | EUR | 2.511.825,00 | 2.077.850,00 | 0,04% |
| Total EURO |  |  | 670.818.274,29 | 599.503.500,57 | 12,20% |
| UK TREAS 3,25 23-33 | 10.000.000 | GBP | 10.496.665,90 | 10.493.025,13 | 0,21% |
| Total LIVRE STERLING |  |  | 10.496.665,90 | 10.493.025,13 | 0,21% |
| AMAZON 3,00 22-25 | 5.500.000 | USD | 4.941.972,03 | 5.020.337,66 | 0,10% |
| APPLE INC 0,70 21-26 | 11.000.000 | USD | 9.736.314,83 | 9.364.155,84 | 0,19% |
| DELHAIZE AMERICA 9,00 01-150431 | 1.848.000 | USD | 2.079.854,46 | 2.002.560,00 | 0,04% |
| JPMORGAN FRN 20-26 | 8.500.000 | USD | 7.586.269,49 | 7.537.924,44 | 0,15% |
| US TREASURY 0,625 20-150530 | 45.000.000 | USD | 37.443.076,23 | 32.903.261,30 | 0,67% |
| US TREASURY 0,875 22-310124 | 10.000.000 | USD | 8.858.295,87 | 9.304.161,79 | 0,19% |
| US TREASURY 1,125 20-150540 | 108.000.000 | USD | 73.621.692,94 | 58.685.950,41 | 1,19% |
| US TREASURY 1,125 21-150231 | 30.000.000 | USD | 23.540.862,68 | 22.358.323,50 | 0,45% |
| US TREASURY 1,125 21-310828 | 84.000.000 | USD | 71.081.761,89 | 67.196.280,59 | 1,37% |
| US TREASURY 2,25 17-150227 | 52.000.000 | USD | 46.789.655,49 | 45.340.761,39 | 0,92% |
| US TREASURY 2,75 22-150832 | 24.025.000 | USD | 21.241.223,88 | 19.656.818,18 | 0,40% |
| US TREASURY 2,875 18-310725 | 26.500.000 | USD | 23.941.841,49 | 24.052.778,13 | 0,49% |
| US TREASURY 3,00 22-150852 | 24.000.000 | USD | 21.984.355,66 | 16.526.564,34 | 0,34% |
| US TREASURY NOTES 1,75 19-151129 | 73.000.000 | USD | 64.778.806,06 | 58.758.536,01 | 1,20% |
| Total DOLLAR DES ETATS-UNIS |  |  | 417.625.983,00 | 378.708.413,58 | 7,71% |
| Total Obligations |  |  | 1.098.940.923,19 | 988.704.939,28 | 20,12% |
| Total Valeurs mobilières admises à la cote officielle d'une bourse de valeurs ou négociées sur un autre marché réglementé |  |  | 1.373.317.263,42 | 1.299.515.514,67 | 26,44% |
| Fonds d'investissements |  |  |  |  |  |
| DPAM -B- BONDS EUR -J- | 11.607 | EUR | 299.942.950,67 | 271.645.469,13 | 5,53% |
| DPAM -B- EQUIT. JAPAN ESG J | 1.600 | EUR | 40.000.000,00 | 40.765.680,00 | 0,83% |
| DPAM -B- EQUIT. DRAGONS SUSTAINABLE -J- | 3.488 | EUR | 86.114.729,10 | 65.018.936,00 | 1,32% |
| DPAM -B- EQUIT. EUROLAND -J- | 609 | EUR | 15.431.509,92 | 22.475.823,72 | 0,46% |
| DPAM -B- EQUIT. EUROPE DIVIDEND -J- | 2.301 | EUR | 60.507.956,74 | 70.738.909,80 | 1,44% |
| DPAM -B- EQUIT. EUROPE SUSTAINABLE -J- | 6.277 | EUR | 207.336.852,22 | 238.915.236,77 | 4,86% |
| DPAM -B- EQUIT. EUR SMALL CAPS SUSTAINABLE -J- | 858 | EUR | 22.632.992,92 | 24.570.333,74 | 0,50% |
| DPAM -B- EQUIT. NEWGEMS SUSTAINABLE -J- | 1.335 | EUR | 35.008.156,74 | 41.377.977,90 | 0,84% |
| DPAM -B- EQUIT. US BEHAVIORAL VALUE -J- | 6.045 | EUR | 160.656.963,26 | 244.802.890,74 | 4,98% |
| DPAM -B- EQUIT. US ESG LEADER INDEX -J- | 3.106 | EUR | 294.905.036,62 | 441.222.488,34 | 8,98% |
| DPAM -B- EQUIT. WORLD SUSTAINABLE -J- | 4.016 | EUR | 128.278.764,87 | 182.464.152,86 | 3,71% |
| DPAM -B- REAL ESTATE EUROPE SUSTAINABLE -J- | 2.262 | EUR | 59.942.978,86 | 48.863.738,78 | 0,99% |
| DPAM CAP -B- EQUIT. US DIVIDENDE SUSTAINABLE -J- -CAP- | 1.495 | EUR | 67.595.436,20 | 70.843.759,35 | 1,44% |
| DPAM CAPITAL B EQUITIES EUROPE INDEX -J- | 5.300 | EUR | 182.862.893,50 | 180.227.295,00 | 3,67% |
| DPAM EQUITIES L EUR BEHAVIORAL VALUE J -CAP- | 4.374 | EUR | 108.287.444,40 | 108.547.545,96 | 2,21% |

|  |
| --- |
| Medium |
|  |
| Dénomination | Nominal / Quantité | Devise | Valeur d’acquisition (en EUR) | Valeur d’évaluation (en EUR) | % de l'actif net |
|  |
| DPAM L BDS EMCS J | 410 | EUR | 10.250.000,00 | 10.473.425,40 | 0,21% |
| DPAM L BONDS CLIMATE TRENDS SUSTAINABLE -J- | 4.607 | EUR | 115.650.463,48 | 101.011.193,13 | 2,06% |
| DPAM L BONDS CORP. HIGH YIELD -J- -CAP- | 732 | EUR | 18.738.732,26 | 20.029.664,76 | 0,41% |
| DPAM L BONDS EMERGING MARKETS SUSTAINABLE -J- -CAP- | 4.913 | EUR | 129.187.543,61 | 143.358.449,82 | 2,92% |
| DPAM L BONDS EUR HIGH YIELD SHORT-TERM -J- -CAP- | 2.035 | EUR | 50.889.806,79 | 52.233.830,55 | 1,06% |
| DPAM L BONDS EUR QUALITY -J- -CAP- | 7.696 | EUR | 191.326.003,14 | 177.286.136,86 | 3,61% |
| DPAM L BONDS GOVERNMENTT SUSTAINABLE -J- -CAP- | 2.500 | EUR | 60.234.604,00 | 55.601.000,00 | 1,13% |
| DPAM L BONDS GOVT GLOBAL -J- -CAP- | 2.190 | EUR | 54.556.173,90 | 52.206.074,10 | 1,06% |
| DPAM L BONDS GOVT SUSTAINABLE -J- -CAP- | 1.838 | EUR | 45.950.000,00 | 37.520.821,72 | 0,76% |
| DPAM L BONDS UNIV UNCONST -J- -CAP- | 6.429 | EUR | 171.435.039,43 | 165.352.116,21 | 3,36% |
| DPAML EQUIT. EMERGING MARKETS ESG LEAD INDEX -J- -CAP- | 8.638 | EUR | 211.589.806,79 | 172.468.813,02 | 3,51% |
| DPWM STRATEGIES ACTIONS SI | 290 | EUR | 30.916.166,42 | 31.190.486,00 | 0,63% |
| OSTRUM SRI MONEY PLUS -I- -CAP- | 58 | EUR | 5.958.844,94 | 6.081.794,16 | 0,12% |
| SELECT EQUIT. EMERGING MLTI MGMT -Z- EUR | 1.657 | EUR | 150.362.997,29 | 161.660.378,35 | 3,29% |
| SELECT EQUIT. JAPAN MULTI MANAGMENT -Z- -CAP- | 339 | EUR | 48.593.654,24 | 68.946.121,71 | 1,40% |
| Total EURO |  |  | 3.065.144.502,31 | 3.307.900.543,88 | 67,31% |
| ALLIANZ GLOBAL INVESTMENT FUND CHINA -A- -CAP- | 24.983 | USD | 30.557.614,56 | 25.187.925,26 | 0,51% |
| BROWN ADV US SUST GR | 2.489.420 | USD | 33.156.784,04 | 33.176.591,45 | 0,68% |
| ISHARES MSCI CHINA -A- -CAP- UCITS ETF | 1.151.500 | USD | 5.123.721,37 | 4.670.168,60 | 0,10% |
| ISHARES SP 500 ENERGY SECTOR UCITS | 2.002.235 | USD | 13.471.847,09 | 16.861.797,23 | 0,34% |
| MORGAN STANLEY INVESTMENT US GROWTH FUND Z | 273.524 | USD | 33.422.189,85 | 26.426.229,01 | 0,54% |
| NEUBERGER BERMAN US SMALL I3 -CAP- | 1.840 | USD | 24.931.239,51 | 24.951.355,84 | 0,51% |
| POLEN CAPITAL FOCUS U.S. GROWTH US -DIS- | 2.088.080 | USD | 26.038.253,60 | 29.188.745,22 | 0,59% |
| Total DOLLAR DES ETATS-UNIS |  |  | 166.701.650,02 | 160.462.812,61 | 3,27% |
| Total Fonds d'investissements |  |  | 3.231.846.152,33 | 3.468.363.356,49 | 70,57% |
| Autres valeurs mobilières |  |  |  |  |  |
| 3I EUROPARTNERS V -B- PE | 55.532 | EUR | 2.181,33 | 55.532,29 | 0,00% |
| ATLANTIC CERTIFICATES -REG- | 20 | EUR | 701.835,00 | 619.072,00 | 0,01% |
| CARLYLE EUROPE PARTNER III PE | 115.477 | EUR | 6.143,22 | 115.476,68 | 0,00% |
| DEGROOF ALTERNATIVE FOHF LOW VOLATILITY -A- -LIQUIDATION- | 58.200 | EUR | 1.451.220,46 | 274.122,00 | 0,01% |
| DEGROOF ALTERNATIVE FOHF LOW VOLATILITY -B- -LIQUIDATION- | 365.000 | EUR | 0,00 | 0,00 | 0,00% |
| DEGROOF PRIVATE - RENEWABLE ENERGY II -B- -REG- | 5 | EUR | 5.281,00 | 28.609,87 | 0,00% |
| SIGMA FINANCE CORP. CAPITAL FRN 07-300414 | 10.000.000 | EUR | 7.500.000,00 | 0,00 | 0,00% |
| Total EURO |  |  | 9.666.661,01 | 1.092.812,84 | 0,02% |
| CARLYLE US PARTNERS V PE | 631.844 | USD | 13.582,08 | 596.782,69 | 0,01% |
| INVESCO PHYSICAL GOLD ETC | 116.470 | USD | 18.111.079,99 | 19.692.368,08 | 0,40% |
| NORTEL NETWORKS CORP. -FAILLITE- | 7.300 | USD | 1.592.630,97 | 0,00 | 0,00% |
| WISDOMTREE PHYSICAL SWISS GOLD 09-PERPETUAL | 120.992 | USD | 16.595.517,78 | 20.346.654,68 | 0,41% |
| Total DOLLAR DES ETATS-UNIS |  |  | 36.312.810,82 | 40.635.805,45 | 0,83% |
| Total Autres valeurs mobilières |  |  | 45.979.471,83 | 41.728.618,29 | 0,85% |
| Total du Portefeuille-Titres |  |  | 4.651.142.887,58 | 4.809.607.489,45 | 97,87% |

|  |
| --- |
| High |
|  |
| Dénomination | Nominal / Quantité | Devise | Valeur d’acquisition (en EUR) | Valeur d’évaluation (en EUR) | % de l'actif net |
|  |
| Valeurs mobilières admises à la cote officielle d'une bourse de valeurs ou négociées sur un autre marché réglementé |  |  |  |  |  |
| Actions Cotées ou Négociées |  |  |  |  |  |
| NESTLE SA-REG | 60.895 | CHF | 4.684.276,43 | 6.522.376,03 | 0,51% |
| ROCHE HOLDING AG-GENUSSCHEIN | 33.508 | CHF | 10.643.737,35 | 8.664.579,63 | 0,67% |
| Total FRANC SUISSE |  |  | 15.328.013,78 | 15.186.955,66 | 1,18% |
| AIR LIQUIDE | 35.807 | EUR | 3.030.282,18 | 5.723.390,88 | 0,45% |
| ANHEUSER-BUSCH INBEV | 90.000 | EUR | 4.585.599,81 | 4.725.900,00 | 0,37% |
| ASML HOLDING NV | 9.155 | EUR | 6.002.288,87 | 5.118.560,50 | 0,40% |
| BNP PARIBAS S.A. | 47.660 | EUR | 2.619.791,66 | 2.880.093,80 | 0,22% |
| ENEL AZ | 999.660 | EUR | 7.438.507,98 | 5.818.021,20 | 0,45% |
| KBC GROUP S.A. | 67.683 | EUR | 4.771.177,32 | 4.002.772,62 | 0,31% |
| LVMH MOET HENNESSY LOUIS VUI | 8.120 | EUR | 4.458.124,41 | 5.817.168,00 | 0,45% |
| SOLVAY & CIE | 19.103 | EUR | 1.589.634,73 | 2.002.949,55 | 0,16% |
| TOTAL ENERGIES SE | 151.900 | EUR | 6.776.658,61 | 9.464.889,00 | 0,74% |
| Total EURO |  |  | 41.272.065,57 | 45.553.745,55 | 3,54% |
| ASTRAZENECA PLC | 11.471 | GBP | 842.316,22 | 1.468.192,78 | 0,11% |
| DIAGEO PLC | 97.001 | GBP | 3.997.109,85 | 3.392.910,24 | 0,26% |
| Total LIVRE STERLING |  |  | 4.839.426,07 | 4.861.103,02 | 0,38% |
| ASSA ABLOY AB -B- | 75.000 | SEK | 1.195.561,32 | 1.553.140,62 | 0,12% |
| Total COURONNE SUÉDOISE |  |  | 1.195.561,32 | 1.553.140,62 | 0,12% |
| ABBOTT LABORATORIES | 61.200 | USD | 6.027.048,97 | 5.598.318,77 | 0,44% |
| ALPHABET INC. -C- | 48.880 | USD | 2.295.117,40 | 6.087.204,72 | 0,47% |
| AMAZON.COM INC. | 111.888 | USD | 11.241.698,27 | 13.433.957,55 | 1,05% |
| APPLE INC. | 28.500 | USD | 4.299.748,25 | 4.608.722,55 | 0,36% |
| BOSTON SCIENTIFIC CORP. | 81.931 | USD | 2.492.785,99 | 4.085.909,61 | 0,32% |
| COMCAST CORP-CLASS A | 54.565 | USD | 1.619.666,60 | 2.285.159,01 | 0,18% |
| JPMORGAN CHASE & CO | 40.200 | USD | 3.893.042,41 | 5.506.308,38 | 0,43% |
| MICROSOFT CORP. | 19.464 | USD | 3.514.456,28 | 5.804.730,11 | 0,45% |
| UNITEDHEALTH | 8.900 | USD | 3.928.657,33 | 4.238.291,38 | 0,33% |
| Total DOLLAR DES ETATS-UNIS |  |  | 39.312.221,50 | 51.648.602,08 | 4,02% |
| Total Actions Cotées ou Négociées |  |  | 101.947.288,24 | 118.803.546,93 | 9,24% |
| Obligations |  |  |  |  |  |
| BUNDESREP 1,80 22-53 | 2.300.000 | EUR | 2.001.966,00 | 1.748.483,00 | 0,14% |
| GERMANY 1,70 22-150832 | 2.500.000 | EUR | 2.363.900,00 | 2.289.462,50 | 0,18% |
| KFW 0,05 19-34 | 5.500.000 | EUR | 3.929.590,50 | 3.804.900,00 | 0,30% |
| KFW 0,125 22-090132 | 2.500.000 | EUR | 2.063.075,00 | 1.922.537,50 | 0,15% |
| Total EURO |  |  | 10.358.531,50 | 9.765.383,00 | 0,76% |

|  |
| --- |
| High |
|  |
| Dénomination | Nominal / Quantité | Devise | Valeur d’acquisition (en EUR) | Valeur d’évaluation (en EUR) | % de l'actif net |
|  |
| AMAZON 3,00 22-25 | 1.400.000 | USD | 1.257.956,51 | 1.277.904,14 | 0,10% |
| APPLE INC 0,70 21-26 | 2.800.000 | USD | 2.478.334,68 | 2.383.603,31 | 0,19% |
| DEUT TEL 4,375 18-28 | 2.609.000 | USD | 2.437.317,14 | 2.339.302,71 | 0,18% |
| JPMORGAN FRN 20-26 | 2.000.000 | USD | 1.785.004,59 | 1.773.629,28 | 0,14% |
| US TREASURY 0,625 20-150530 | 2.000.000 | USD | 1.636.577,78 | 1.462.367,17 | 0,11% |
| US TREASURY 1,125 20-150540 | 14.100.000 | USD | 9.519.948,15 | 7.661.776,86 | 0,60% |
| US TREASURY 1,125 21-310828 | 17.400.000 | USD | 14.685.275,50 | 13.919.229,54 | 1,08% |
| US TREASURY 2,25 17-150227 | 10.700.000 | USD | 9.628.055,13 | 9.329.733,60 | 0,73% |
| US TREASURY 2,75 22-150832 | 990.000 | USD | 952.521,11 | 810.000,00 | 0,06% |
| US TREASURY 2,875 18-310725 | 2.500.000 | USD | 2.262.862,04 | 2.269.130,01 | 0,18% |
| US TREASURY 3,00 22-150852 | 2.500.000 | USD | 2.322.802,42 | 1.721.517,12 | 0,13% |
| US TREASURY NOTES 1,75 19-151129 | 5.500.000 | USD | 4.889.429,38 | 4.427.012,98 | 0,34% |
| Total DOLLAR DES ETATS-UNIS |  |  | 53.856.084,43 | 49.375.206,72 | 3,84% |
| Total Obligations |  |  | 64.214.615,93 | 59.140.589,72 | 4,60% |
| Total Valeurs mobilières admises à la cote officielle d'une bourse de valeurs ou négociées sur un autre marché réglementé |  |  | 166.161.904,17 | 177.944.136,65 | 13,85% |
| Fonds d'investissements |  |  |  |  |  |
| DPAM -B- BONDS EUR -J- | 771 | EUR | 19.582.622,11 | 18.044.167,89 | 1,40% |
| DPAM -B- EQUIT. JAPAN J | 620 | EUR | 15.500.000,00 | 15.796.701,00 | 1,23% |
| DPAM -B- EQUIT. DRAGONS SUSTAINABLE -J- | 1.068 | EUR | 25.922.674,18 | 19.908.321,00 | 1,55% |
| DPAM -B- EQUIT. EUROLAND -J- | 272 | EUR | 6.957.373,07 | 10.029.481,10 | 0,78% |
| DPAM -B- EQUIT. EUROPE DIVIDEND -J- | 997 | EUR | 26.044.817,99 | 30.636.787,44 | 2,38% |
| DPAM -B- EQUIT. EUROPE SUSTAINABLE -J- | 2.716 | EUR | 91.205.523,09 | 103.376.419,16 | 8,04% |
| DPAM -B- EQUIT. EUR SMALL CAPS SUSTAINABLE -J- | 459 | EUR | 12.467.083,69 | 13.165.280,99 | 1,02% |
| DPAM -B- EQUIT. NEWGEMS SUSTAINABLE -J- | 398 | EUR | 10.383.137,06 | 12.335.906,52 | 0,96% |
| DPAM -B- EQUIT. US BEHAVIORAL VALUE -J- | 2.138 | EUR | 56.629.457,57 | 86.570.879,37 | 6,74% |
| DPAM -B- EQUIT. US ESG LEADER INDEX -J- | 1.246 | EUR | 118.537.494,41 | 177.000.392,94 | 13,77% |
| DPAM -B- EQUIT. WORLD SUSTAINABLE -J- | 1.050 | EUR | 34.629.163,73 | 47.696.219,27 | 3,71% |
| DPAM -B- REAL ESTATE EUROPE SUSTAINABLE -J- | 607 | EUR | 15.654.626,97 | 13.100.276,52 | 1,02% |
| DPAM CAP -B- EQUIT. US DIVIDENDE SUSTAINABLE -J- -CAP- | 628 | EUR | 28.390.501,22 | 29.759.117,64 | 2,32% |
| DPAM CAPITAL B EQUITIES EUROPE INDEX -J- | 2.211 | EUR | 76.298.552,28 | 75.185.386,65 | 5,85% |
| DPAM EQUITIES L EUR BEHAVIORAL VALUE J -CAP- | 1.887 | EUR | 46.685.256,34 | 46.828.810,98 | 3,64% |
| DPAM L BDS EMCS J | 53 | EUR | 1.325.000,00 | 1.353.881,82 | 0,11% |
| DPAM L BONDS CLIMATE TRENDS SUSTAINABLE -J- | 468 | EUR | 11.039.661,03 | 10.261.176,12 | 0,80% |
| DPAM L BONDS CORP. HIGH YIELD -J- -CAP- | 248 | EUR | 6.490.369,08 | 6.786.006,64 | 0,53% |
| DPAM L BONDS EMERGING MARKETS SUSTAINABLE -J- -CAP- | 1.312 | EUR | 34.259.163,73 | 38.289.997,02 | 2,98% |
| DPAM L BONDS EUR HIGH YIELD SHORT-TERM -J- -CAP- | 387 | EUR | 9.642.566,05 | 9.929.407,34 | 0,77% |
| DPAM L BONDS EUR QUALITY -J- -CAP- | 472 | EUR | 11.670.493,62 | 10.882.602,63 | 0,85% |
| DPAM L BONDS GOVT SUSTAINABLE -J- -CAP- | 590 | EUR | 14.503.903,90 | 12.044.224,60 | 0,94% |
| DPAM L BONDS UNIV UNCONST -J- -CAP- | 743 | EUR | 20.165.791,62 | 19.121.615,70 | 1,49% |
| DPAML EQUIT. EMERGING MARKETS ESG LEAD INDEX -J- -CAP- | 2.603 | EUR | 63.870.999,65 | 51.972.252,87 | 4,04% |
| DPWM STRATEGIES ACTIONS SI | 125 | EUR | 13.325.704,75 | 13.444.175,00 | 1,05% |
| SELECT EQUIT. EMERGING MLTI MGMT -Z- EUR | 860 | EUR | 78.162.500,94 | 83.890.071,40 | 6,53% |
| SELECT EQUIT. JAPAN MULTI MANAGMENT -Z- -CAP- | 178 | EUR | 25.177.056,19 | 36.201.798,42 | 2,82% |
| Total EURO |  |  | 874.521.494,27 | 993.611.358,03 | 77,31% |
| ALLIANZ GLOBAL INVESTMENT FUND CHINA -A- -CAP- | 10.496 | USD | 13.069.135,93 | 10.581.749,05 | 0,82% |

|  |
| --- |
| High |
|  |
| Dénomination | Nominal / Quantité | Devise | Valeur d’acquisition (en EUR) | Valeur d’évaluation (en EUR) | % de l'actif net |
|  |
| BROWN ADV US SUST GR | 1.153.335 | USD | 15.365.789,91 | 15.370.537,76 | 1,20% |
| ISHARES MSCI CHINA -A- -CAP- UCITS ETF | 591.000 | USD | 2.629.717,17 | 2.396.934,12 | 0,19% |
| ISHARES SP 500 ENERGY SECTOR UCITS | 765.015 | USD | 5.139.982,28 | 6.442.564,34 | 0,50% |
| MORGAN STANLEY INVESTMENT US GROWTH FUND Z | 118.634 | USD | 14.407.677,62 | 11.461.697,15 | 0,89% |
| NEUBERGER BERMAN US SMALL I3 -CAP- | 1.016 | USD | 13.581.582,20 | 13.777.487,79 | 1,07% |
| POLEN CAPITAL FOCUS U.S. GROWTH US -DIS- | 1.199.795 | USD | 14.876.055,90 | 16.771.632,59 | 1,30% |
| Total DOLLAR DES ETATS-UNIS |  |  | 79.069.941,01 | 76.802.602,80 | 5,98% |
| Total Fonds d'investissements |  |  | 953.591.435,28 | 1.070.413.960,83 | 83,29% |
| Autres valeurs mobilières |  |  |  |  |  |
| 3I EUROPARTNERS V -B- PE | 11.855 | EUR | 430,86 | 11.855,21 | 0,00% |
| CARLYLE EUROPE PARTNER III PE | 27.350 | EUR | 1.553,49 | 27.349,74 | 0,00% |
| DEGROOF ALTERNATIVE FOHF LOW VOLATILITY -A- -LIQUIDATION- | 6.400 | EUR | 160.850,62 | 30.144,00 | 0,00% |
| DEGROOF ALTERNATIVE FOHF LOW VOLATILITY -B- -LIQUIDATION- | 60.000 | EUR | 0,00 | 0,00 | 0,00% |
| DEGROOF PRIVATE - RENEWABLE ENERGY II -B- -REG- | 1 | EUR | 1.251,00 | 6.777,31 | 0,00% |
| Total EURO |  |  | 164.085,97 | 76.126,26 | 0,01% |
| CARLYLE US PARTNERS V PE | 149.647 | USD | 3.726,74 | 141.343,27 | 0,01% |
| INVESCO PHYSICAL GOLD ETC | 30.244 | USD | 4.656.253,94 | 5.113.556,97 | 0,40% |
| NORTEL NETWORKS CORP. -FAILLITE- | 850 | USD | 267.432,15 | 0,00 | 0,00% |
| WISDOMTREE PHYSICAL SWISS GOLD 09-PERPETUAL | 36.733 | USD | 5.056.667,74 | 6.177.215,57 | 0,48% |
| Total DOLLAR DES ETATS-UNIS |  |  | 9.984.080,57 | 11.432.115,81 | 0,89% |
| Total Autres valeurs mobilières |  |  | 10.148.166,54 | 11.508.242,07 | 0,90% |
| Total du Portefeuille-Titres |  |  | 1.129.901.505,99 | 1.259.866.339,55 | 98,03% |

|  |
| --- |
| Medium Low |
|  |
| Dénomination | Nominal / Quantité | Devise | Valeur d’acquisition (en EUR) | Valeur d’évaluation (en EUR) | % de l'actif net |
|  |
| Valeurs mobilières admises à la cote officielle d'une bourse de valeurs ou négociées sur un autre marché réglementé |  |  |  |  |  |
| Actions Cotées ou Négociées |  |  |  |  |  |
| NESTLE SA-REG | 26.303 | CHF | 2.127.597,46 | 2.817.276,57 | 0,25% |
| ROCHE HOLDING AG-GENUSSCHEIN | 18.684 | CHF | 5.855.482,15 | 4.831.353,88 | 0,43% |
| Total FRANC SUISSE |  |  | 7.983.079,61 | 7.648.630,45 | 0,69% |
| AIR LIQUIDE | 17.083 | EUR | 1.449.366,90 | 2.730.546,72 | 0,25% |
| ANHEUSER-BUSCH INBEV | 41.000 | EUR | 2.088.995,95 | 2.152.910,00 | 0,19% |
| ASML HOLDING NV | 3.890 | EUR | 2.551.563,10 | 2.174.899,00 | 0,20% |
| BNP PARIBAS S.A. | 20.715 | EUR | 1.138.669,54 | 1.251.807,45 | 0,11% |
| ENEL AZ | 513.260 | EUR | 3.824.136,43 | 2.987.173,20 | 0,27% |
| KBC GROUP S.A. | 30.160 | EUR | 2.100.283,31 | 1.783.662,40 | 0,16% |
| LVMH MOET HENNESSY LOUIS VUI | 3.600 | EUR | 1.842.829,82 | 2.579.040,00 | 0,23% |
| SOLVAY & CIE | 11.418 | EUR | 950.136,37 | 1.197.177,30 | 0,11% |
| TOTAL ENERGIES SE | 72.500 | EUR | 3.399.132,59 | 4.517.475,00 | 0,41% |
| Total EURO |  |  | 19.345.114,01 | 21.374.691,07 | 1,92% |
| ASTRAZENECA PLC | 9.900 | GBP | 726.967,04 | 1.267.117,82 | 0,11% |
| DIAGEO PLC | 45.948 | GBP | 1.893.082,75 | 1.607.173,53 | 0,14% |
| Total LIVRE STERLING |  |  | 2.620.049,79 | 2.874.291,35 | 0,26% |
| ASSA ABLOY AB -B- | 27.000 | SEK | 429.647,38 | 559.130,62 | 0,05% |
| Total COURONNE SUÉDOISE |  |  | 429.647,38 | 559.130,62 | 0,05% |
| ABBOTT LABORATORIES | 26.535 | USD | 2.616.353,72 | 2.427.310,27 | 0,22% |
| ALPHABET INC. -C- | 16.300 | USD | 765.195,39 | 2.029.898,47 | 0,18% |
| AMAZON.COM INC. | 44.065 | USD | 5.105.267,97 | 5.290.713,39 | 0,48% |
| APPLE INC. | 14.000 | USD | 2.112.158,50 | 2.263.933,88 | 0,20% |
| BOSTON SCIENTIFIC CORP. | 48.981 | USD | 1.490.268,16 | 2.442.688,83 | 0,22% |
| COMCAST CORP-CLASS A | 27.386 | USD | 812.417,75 | 1.146.914,04 | 0,10% |
| JPMORGAN CHASE & CO | 17.600 | USD | 1.492.379,48 | 2.410.722,08 | 0,22% |
| MICROSOFT CORP. | 6.113 | USD | 1.103.774,89 | 1.823.074,14 | 0,16% |
| UNITEDHEALTH | 3.900 | USD | 1.721.543,78 | 1.857.228,81 | 0,17% |
| Total DOLLAR DES ETATS-UNIS |  |  | 17.219.359,64 | 21.692.483,91 | 1,95% |
| Total Actions Cotées ou Négociées |  |  | 47.597.250,43 | 54.149.227,40 | 4,87% |
| Obligations |  |  |  |  |  |
| ABN AMRO 4,25 22-30 | 1.500.000 | EUR | 1.499.250,00 | 1.468.987,50 | 0,13% |
| ABN AMRO BANK 0,875 19-150124 | 1.500.000 | EUR | 1.491.195,00 | 1.486.687,50 | 0,13% |
| AEDIFICA 0,75 21-090931 | 1.300.000 | EUR | 1.298.375,00 | 930.267,00 | 0,08% |
| AHOLD DELHAIZE N.V. 0,875 17-190924 | 2.000.000 | EUR | 2.091.760,00 | 1.942.440,00 | 0,17% |
| AMERICAN MEDICAL 1,875 22-080334 | 2.500.000 | EUR | 2.044.625,00 | 1.983.712,50 | 0,18% |
| ANHEUSER BUSCH INBEV 1,125 19-010727 | 3.500.000 | EUR | 3.508.055,39 | 3.189.707,50 | 0,29% |

|  |
| --- |
| Medium Low |
|  |
| Dénomination | Nominal / Quantité | Devise | Valeur d’acquisition (en EUR) | Valeur d’évaluation (en EUR) | % de l'actif net |
|  |
| ARGAN 1,011 21-171126 | 2.500.000 | EUR | 2.516.500,00 | 2.177.287,50 | 0,20% |
| ARGENTA SPAARBANK 1,00 20-290127 | 2.000.000 | EUR | 1.990.600,00 | 1.775.310,00 | 0,16% |
| AROUNDTOWN S.A. 0,00 20-160726 | 1.500.000 | EUR | 1.473.712,50 | 1.213.087,50 | 0,11% |
| BECTON DICKINSON 1,90 16-151226 | 1.000.000 | EUR | 1.002.600,00 | 937.840,00 | 0,08% |
| BELGIUM OLO 0,10 20-220630 | 3.500.000 | EUR | 3.444.035,00 | 2.846.007,50 | 0,26% |
| BLACKROCK INC. 1,25 15-060525 | 1.600.000 | EUR | 1.726.656,00 | 1.527.272,00 | 0,14% |
| BNP PARIBAS S.A. FRN 19-230127 | 2.500.000 | EUR | 2.358.012,50 | 2.363.300,00 | 0,21% |
| BPCE S.A. 1,00 19-010425 | 1.700.000 | EUR | 1.697.042,00 | 1.619.904,50 | 0,15% |
| BUONI POLIENNALI 0,50 21-150728 | 2.500.000 | EUR | 2.513.527,50 | 2.111.337,50 | 0,19% |
| BUREAU VERITAS 1,125 19-180127 | 500.000 | EUR | 516.500,00 | 450.947,50 | 0,04% |
| CIE SAINT GOBAIN 0,625 19-150324 | 1.200.000 | EUR | 1.195.356,00 | 1.182.054,00 | 0,11% |
| CITIGROUP INC. 0,75 16-261023 | 1.500.000 | EUR | 1.501.995,00 | 1.496.955,00 | 0,13% |
| CLOVERIE PLC ZURICH 1,50 18-151228 | 1.300.000 | EUR | 1.169.961,00 | 1.161.426,50 | 0,10% |
| COFINIMMO -SICAFI- 2,00 16-091224 | 500.000 | EUR | 499.705,00 | 484.405,00 | 0,04% |
| COOP RAB 4,00 23-30 | 3.000.000 | EUR | 2.960.820,00 | 2.930.925,00 | 0,26% |
| COOP RABO FRN 23-29 | 1.500.000 | EUR | 1.500.000,00 | 1.481.287,50 | 0,13% |
| DH EUROPE FINANCE 0,45 19-180328 | 3.500.000 | EUR | 3.431.080,00 | 3.015.337,50 | 0,27% |
| ERG SpA 1,875 19-110425 | 1.700.000 | EUR | 1.797.750,00 | 1.638.630,00 | 0,15% |
| FLUXYS BELGIUM 2,75 14-271129 | 1.700.000 | EUR | 1.620.100,00 | 1.507.160,50 | 0,14% |
| GIMV N.V.N.V. 2,25 21-150329 | 1.200.000 | EUR | 1.200.000,00 | 1.058.262,00 | 0,10% |
| GROUPE BRUX LAMBERT 1,375 17-230524 | 3.300.000 | EUR | 3.346.243,50 | 3.242.118,00 | 0,29% |
| GROUPE BRUX LAMBERT 1,875 18-190625 | 1.500.000 | EUR | 1.524.600,00 | 1.445.730,00 | 0,13% |
| GRP BRUXLL LAMBERT 3,125 22-060929 | 1.500.000 | EUR | 1.490.085,00 | 1.437.487,50 | 0,13% |
| HEINEKEN N.V. 1,00 16-040526 | 1.000.000 | EUR | 1.059.900,00 | 933.955,00 | 0,08% |
| INFRAX CVBA 3,75 13-301023 | 1.400.000 | EUR | 1.480.907,50 | 1.400.161,00 | 0,13% |
| INTERNATIONAL BANK FOR RECONSTRUCTION & DEVELOPMENT 0,01 20-240428 | 2.200.000 | EUR | 2.195.424,00 | 1.892.737,00 | 0,17% |
| ITALY BTP 0,40 16-110424 | 2.550.000 | EUR | 2.575.794,12 | 2.532.055,74 | 0,23% |
| ITALY BTP 0,95 21-010337 | 2.100.000 | EUR | 2.106.909,00 | 1.301.611,50 | 0,12% |
| ITALY BTP 3,00 19-010829 | 9.500.000 | EUR | 11.005.765,20 | 8.891.382,50 | 0,80% |
| ITALY BTP 3,35 18-010335 | 1.950.000 | EUR | 2.397.068,25 | 1.699.064,25 | 0,15% |
| ITALY BTP FRN 16-150528 | 8.700.000 | EUR | 10.284.927,89 | 10.359.919,24 | 0,93% |
| KBC GROUP 0,75 21-310531 | 1.200.000 | EUR | 1.199.400,00 | 936.618,00 | 0,08% |
| KFW 0,125 22-090132 | 2.600.000 | EUR | 2.145.598,00 | 1.999.439,00 | 0,18% |
| LA LORRAINE BAKERY 3,00 20-151227 | 1.900.000 | EUR | 1.916.625,00 | 1.765.869,50 | 0,16% |
| LA POSTE 0,625 20-211026 | 2.500.000 | EUR | 2.495.978,93 | 2.260.125,00 | 0,20% |
| LVMH 0,75 20-070425 | 2.000.000 | EUR | 1.994.340,00 | 1.912.480,00 | 0,17% |
| NN BANK N.V. NETHERLDS 0,50 21-210928 | 2.500.000 | EUR | 2.093.000,00 | 2.086.200,00 | 0,19% |
| PERNOD RICARD 0,50 19-241027 | 1.200.000 | EUR | 1.196.532,00 | 1.061.460,00 | 0,10% |
| PERNOD RICARD 2,125 14-270924 | 1.200.000 | EUR | 1.288.800,00 | 1.178.928,00 | 0,11% |
| PORTUGAL 2,875 15-151025 | 4.000.000 | EUR | 4.295.120,00 | 3.975.160,00 | 0,36% |
| SOFINA 1,00 21-230928 | 3.100.000 | EUR | 3.074.674,00 | 2.429.036,00 | 0,22% |
| SPAIN KINGDOM 1,85 19-300735 | 4.000.000 | EUR | 4.376.173,08 | 3.193.200,00 | 0,29% |
| SPAIN KINGDOM 1,95 16-300426 | 3.100.000 | EUR | 3.385.820,00 | 2.985.563,50 | 0,27% |
| SPAIN KINGDOM -INFLATION LINKED- 1,80 13-301124 | 14.000.000 | EUR | 16.264.482,63 | 17.319.546,13 | 1,56% |
| SYMRISE 1,25 19-291125 | 2.500.000 | EUR | 2.484.878,26 | 2.353.850,00 | 0,21% |
| THERMO FISHER 1,75 20-150427 | 800.000 | EUR | 798.826,14 | 744.320,00 | 0,07% |
| THERMO FISHER SCIENTIFIC 0,50 19-010328 | 2.500.000 | EUR | 2.457.500,00 | 2.160.637,50 | 0,19% |
| TMVOLKSWAGEN 4,70 13-111228 | 750.000 | EUR | 748.020,00 | 743.632,50 | 0,07% |
| TOTAL ENERGIES 1,491 20-080427 | 3.200.000 | EUR | 3.200.000,00 | 2.959.904,00 | 0,27% |
| UBS GRP FRN 23-31 | 1.300.000 | EUR | 1.295.242,00 | 1.258.016,50 | 0,11% |

|  |
| --- |
| Medium Low |
|  |
| Dénomination | Nominal / Quantité | Devise | Valeur d’acquisition (en EUR) | Valeur d’évaluation (en EUR) | % de l'actif net |
|  |
| UCB 1,00 21-300328 | 1.300.000 | EUR | 1.296.763,00 | 1.109.810,00 | 0,10% |
| VERIZON COMMUNICATIONS INC. 0,875 19-080427 | 2.600.000 | EUR | 2.628.436,20 | 2.334.215,00 | 0,21% |
| VERIZON COMMUNICATIONS INC.1,30 20-180533 | 1.500.000 | EUR | 1.559.175,00 | 1.141.980,00 | 0,10% |
| VGP N.V. 1,50 21-080429 | 1.400.000 | EUR | 1.391.306,70 | 1.044.218,00 | 0,09% |
| VINCI S.A. 0,00 20-271128 | 1.000.000 | EUR | 1.004.730,00 | 831.140,00 | 0,07% |
| Total EURO |  |  | 152.108.258,29 | 138.902.109,36 | 12,49% |
| UK TREAS 3,25 23-33 | 2.200.000 | GBP | 2.309.266,49 | 2.308.465,53 | 0,21% |
| Total LIVRE STERLING |  |  | 2.309.266,49 | 2.308.465,53 | 0,21% |
| AMAZON 3,00 22-25 | 1.250.000 | USD | 1.123.175,46 | 1.140.985,83 | 0,10% |
| APPLE INC 0,70 21-26 | 2.400.000 | USD | 2.124.286,88 | 2.043.088,55 | 0,18% |
| DEUT TEL 4,375 18-28 | 2.000.000 | USD | 1.848.181,69 | 1.793.256,20 | 0,16% |
| JPMORGAN FRN 20-26 | 2.000.000 | USD | 1.766.307,90 | 1.773.629,28 | 0,16% |
| US TREASURY 0,625 20-150530 | 4.000.000 | USD | 3.378.076,09 | 2.924.734,33 | 0,26% |
| US TREASURY 1,125 20-150540 | 10.100.000 | USD | 6.210.417,20 | 5.488.223,14 | 0,49% |
| US TREASURY 1,125 21-310828 | 22.300.000 | USD | 18.861.590,82 | 17.839.012,59 | 1,60% |
| US TREASURY 2,25 17-150227 | 20.600.000 | USD | 18.696.718,94 | 17.961.917,02 | 1,62% |
| US TREASURY 2,75 22-150832 | 1.245.000 | USD | 1.197.867,46 | 1.018.636,37 | 0,09% |
| US TREASURY 2,875 18-310725 | 18.500.000 | USD | 16.503.279,10 | 16.791.562,09 | 1,51% |
| US TREASURY 3,00 22-150852 | 3.900.000 | USD | 3.580.673,46 | 2.685.566,70 | 0,24% |
| US TREASURY NOTES 1,75 19-151129 | 3.500.000 | USD | 3.094.438,39 | 2.817.190,08 | 0,25% |
| Total DOLLAR DES ETATS-UNIS |  |  | 78.385.013,39 | 74.277.802,18 | 6,68% |
| Total Obligations |  |  | 232.802.538,17 | 215.488.377,07 | 19,38% |
| Total Valeurs mobilières admises à la cote officielle d'une bourse de valeurs ou négociées sur un autre marché réglementé |  |  | 280.399.788,60 | 269.637.604,47 | 24,25% |
| Fonds d'investissements |  |  |  |  |  |
| AMUNDI ULTRA SHORT-TERM BOND SRI -CAP- | 2 | EUR | 16.774.077,09 | 16.917.858,12 | 1,52% |
| DPAM -B- BONDS EUR -J- | 1.330 | EUR | 34.795.962,18 | 31.126.774,70 | 2,80% |
| DPAM -B- BONDS EUR MEDIUM TERM -J- | 1.386 | EUR | 34.985.925,32 | 33.100.576,74 | 2,98% |
| DPAM -B- EQUIT. JAPAN J | 270 | EUR | 6.750.000,00 | 6.879.208,50 | 0,62% |
| DPAM -B- EQUIT. DRAGONS SUSTAINABLE -J- | 567 | EUR | 14.299.731,43 | 10.569.305,25 | 0,95% |
| DPAM -B- EQUIT. EUROPE DIVIDEND -J- | 414 | EUR | 10.901.809,52 | 12.729.431,13 | 1,14% |
| DPAM -B- EQUIT. EUROPE SUSTAINABLE -J- | 1.150 | EUR | 37.196.583,81 | 43.771.311,50 | 3,94% |
| DPAM -B- EQUIT. EUR SMALL CAPS SUSTAINABLE -J- | 160 | EUR | 4.188.699,57 | 4.575.332,76 | 0,41% |
| DPAM -B- EQUIT. NEWGEMS SUSTAINABLE -J- | 291 | EUR | 7.443.885,91 | 9.019.469,34 | 0,81% |
| DPAM -B- EQUIT. US BEHAVIORAL VALUE -J- | 1.006 | EUR | 26.776.195,10 | 40.732.026,28 | 3,66% |
| DPAM -B- EQUIT. US ESG LEADER INDEX -J- | 543 | EUR | 50.658.378,04 | 77.135.805,27 | 6,94% |
| DPAM -B- EQUIT. WORLD SUSTAINABLE -J- | 501 | EUR | 14.732.769,62 | 22.778.893,57 | 2,05% |
| DPAM -B- REAL ESTATE EUROPE SUSTAINABLE -J- | 345 | EUR | 9.252.910,40 | 7.459.642,40 | 0,67% |
| DPAM CAP -B- EQUIT. US DIVIDENDE SUSTAINABLE -J- -CAP- | 266 | EUR | 12.026.771,57 | 12.604.976,58 | 1,13% |
| DPAM CAPITAL B EQUITIES EUROPE INDEX -J- | 1.012 | EUR | 34.929.141,68 | 34.413.211,80 | 3,09% |
| DPAM EQUITIES L EUR BEHAVIORAL VALUE J -CAP- | 845 | EUR | 20.952.236,00 | 20.969.976,30 | 1,89% |
| DPAM L BDS EMCS J | 90 | EUR | 2.250.000,00 | 2.299.044,60 | 0,21% |
| DPAM L BONDS CLIMATE TRENDS SUSTAINABLE -J- | 1.928 | EUR | 49.136.638,59 | 42.272.537,52 | 3,80% |
| DPAM L BONDS CORP. HIGH YIELD -J- -CAP- | 215 | EUR | 5.609.694,97 | 5.883.029,95 | 0,53% |

|  |
| --- |
| Medium Low |
|  |
| Dénomination | Nominal / Quantité | Devise | Valeur d’acquisition (en EUR) | Valeur d’évaluation (en EUR) | % de l'actif net |
|  |
| DPAM L BONDS CORPORATE EUR -J- | 2.110 | EUR | 53.990.279,10 | 50.092.096,30 | 4,50% |
| DPAM L BONDS EMERGING MARKETS SUSTAINABLE -J- -CAP- | 1.056 | EUR | 27.551.224,45 | 30.826.059,98 | 2,77% |
| DPAM L BONDS EUR HIGH YIELD SHORT-TERM -J- -CAP- | 629 | EUR | 15.568.431,23 | 16.152.933,50 | 1,45% |
| DPAM L BONDS EUR QUALITY -J- -CAP- | 3.259 | EUR | 80.971.419,90 | 75.076.898,61 | 6,75% |
| DPAM L BONDS GOVERNMENTT SUSTAINABLE -J- -CAP- | 220 | EUR | 5.358.421,20 | 4.892.888,00 | 0,44% |
| DPAM L BONDS GOVT GLOBAL -J- -CAP- | 545 | EUR | 13.025.718,05 | 12.991.922,55 | 1,17% |
| DPAM L BONDS GOVT SUSTAINABLE -J- -CAP- | 546 | EUR | 13.264.253,10 | 11.146.011,24 | 1,00% |
| DPAM L BONDS UNIV UNCONST -J- -CAP- | 1.756 | EUR | 46.231.667,46 | 45.162.336,76 | 4,06% |
| DPAML EQUIT. EMERGING MARKETS ESG LEAD INDEX -J- -CAP- | 1.493 | EUR | 36.979.349,75 | 29.809.670,97 | 2,68% |
| DPWM STRATEGIES ACTIONS SI | 36 | EUR | 3.855.276,56 | 3.871.922,40 | 0,35% |
| OSTRUM SRI MONEY PLUS -I- -CAP- | 90 | EUR | 9.251.841,33 | 9.437.266,80 | 0,85% |
| SELECT EQUIT. EMERGING MLTI MGMT -Z- EUR | 285 | EUR | 26.268.499,86 | 27.823.879,77 | 2,50% |
| SELECT EQUIT. JAPAN MULTI MANAGMENT -Z- -CAP- | 74 | EUR | 10.945.588,05 | 15.050.185,86 | 1,35% |
| Total EURO |  |  | 736.923.380,84 | 767.572.485,05 | 69,02% |
| ALLIANZ GLOBAL INVESTMENT FUND CHINA -A- -CAP- | 4.263 | USD | 5.213.271,70 | 4.297.933,29 | 0,39% |
| BROWN ADV US SUST GR | 413.175 | USD | 5.498.814,30 | 5.506.398,35 | 0,50% |
| ISHARES SP 500 ENERGY SECTOR UCITS | 449.000 | USD | 3.018.662,48 | 3.781.247,93 | 0,34% |
| MORGAN STANLEY INVESTMENT US GROWTH FUND Z | 33.579 | USD | 3.942.987,94 | 3.244.199,21 | 0,29% |
| NEUBERGER BERMAN US SMALL I3 -CAP- | 403 | USD | 3.457.798,75 | 5.463.804,51 | 0,49% |
| POLEN CAPITAL FOCUS U.S. GROWTH US -DIS- | 372.120 | USD | 4.545.205,37 | 5.201.771,90 | 0,47% |
| Total DOLLAR DES ETATS-UNIS |  |  | 25.676.740,54 | 27.495.355,19 | 2,47% |
| Total Fonds d'investissements |  |  | 762.600.121,38 | 795.067.840,24 | 71,49% |
| Autres valeurs mobilières |  |  |  |  |  |
| INVESCO PHYSICAL GOLD ETC | 37.087 | USD | 5.767.026,91 | 6.270.549,11 | 0,56% |
| WISDOMTREE PHYSICAL SWISS GOLD 09-PERPETUAL | 34.710 | USD | 4.765.594,66 | 5.837.017,19 | 0,52% |
| Total DOLLAR DES ETATS-UNIS |  |  | 10.532.621,57 | 12.107.566,30 | 1,09% |
| Total Autres valeurs mobilières |  |  | 10.532.621,57 | 12.107.566,30 | 1,09% |
| Total du Portefeuille-Titres |  |  | 1.053.532.531,55 | 1.076.813.011,01 | 96,83% |

(Content)
| Low | %  DE L ' ACTIF NET |
| --- | --- |
|  |
| LUXEMBOURG | 41,39 % |
| BELGIQUE | 26,28 % |
| ÉTATS-UNIS | 10,29 % |
| FRANCE | 5,55 % |
| ITALIE | 3,62 % |
| ESPAGNE | 3,27 % |
| PAYS-BAS | 2,15 % |
| IRLANDE | 1,34 % |
| JERSEY | 0,84 % |
| PORTUGAL | 0,62 % |
| SUISSE | 0,50 % |
| ALLEMAGNE | 0,45 % |
| ROYAUME-UNI | 0,36 % |
| SUÈDE | 0,04 % |
| Total du Portefeuille-Titres | 96,70 % |

(Content)
| Medium | %  DE L ' ACTIF NET |
| --- | --- |
|  |
| BELGIQUE | 41,91 % |
| LUXEMBOURG | 28,37 % |
| ÉTATS-UNIS | 11,59 % |
| FRANCE | 2,83 % |
| ALLEMAGNE | 2,75 % |
| IRLANDE | 2,62 % |
| ESPAGNE | 1,91 % |
| ITALIE | 1,71 % |
| SUISSE | 1,01 % |
| PAYS-BAS | 0,80 % |
| ORGANISATIONS INTERNATIONALES | 0,77 % |
| PORTUGAL | 0,60 % |
| ROYAUME-UNI | 0,52 % |
| JERSEY | 0,41 % |
| SUÈDE | 0,07 % |
| Total du Portefeuille-Titres | 97,87 % |

(Content)
|  |  |
| --- | --- |
| High | %  DE L ' ACTIF NET |
|  |
| BELGIQUE | 51,62 % |
| LUXEMBOURG | 27,21 % |
| ÉTATS-UNIS | 7,69 % |
| IRLANDE | 4,66 % |
| FRANCE | 2,90 % |
| SUISSE | 1,18 % |
| ALLEMAGNE | 0,76 % |
| PAYS-BAS | 0,58 % |
| JERSEY | 0,48 % |
| ITALIE | 0,45 % |
| ROYAUME-UNI | 0,38 % |
| SUÈDE | 0,12 % |
| Total du Portefeuille-Titres | 98,03 % |

(Content)
| Medium Low | %  DE L ' ACTIF NET |
| --- | --- |
|  |
| LUXEMBOURG | 36,19 % |
| BELGIQUE | 34,11 % |
| ÉTATS-UNIS | 9,57 % |
| FRANCE | 5,33 % |
| ITALIE | 2,83 % |
| IRLANDE | 2,46 % |
| ESPAGNE | 2,11 % |
| PAYS-BAS | 1,64 % |
| SUISSE | 0,80 % |
| JERSEY | 0,52 % |
| ROYAUME-UNI | 0,47 % |
| ALLEMAGNE | 0,39 % |
| PORTUGAL | 0,36 % |
| SUÈDE | 0,05 % |
| Total du Portefeuille-Titres | 96,83 % |

| Low | %  DE L ' ACTIF NET |
| --- | --- |
|  |
| SOCIETES D'INVESTISSEMENT (OPC, FCP) | 68,04 % |
| ETATS | 13,97 % |
| SERVICES FINANCIERS - HOLDINGS | 3,17 % |
| BANQUES | 2,82 % |
| IMMOBILIER | 1,16 % |
| BOISSONS & TABACS | 0,99 % |
| PHARMACIE - COSMETIQUE | 0,86 % |
| PRODUITS CHIMIQUES | 0,80 % |
| TELECOMMUNICATIONS | 0,57 % |
| PETROLE & DERIVES | 0,53 % |
| SOURCES D'ENERGIE | 0,49 % |
| COMPOSANTS & INSTRUMENTS ELECTRONIQUES | 0,47 % |
| SERVICES DIVERS | 0,41 % |
| DISTRIBUTION | 0,37 % |
| ALIMENTATION & PRODUITS D'ENTRETIEN | 0,35 % |
| PHOTO & OPTIQUE | 0,34 % |
| MATERIAUX DE CONSTRUCTION | 0,25 % |
| TEXTILE & HABILLEMENT | 0,23 % |
| EQUIPEMENTS & SERVICES PROD. ENERGIE | 0,22 % |
| INFORMATIQUE - REPRODUCTION | 0,18 % |
| DIFFUSION & EDITION | 0,15 % |
| IT & INTERNET | 0,12 % |
| SOINS & SERVICE DE SANTE | 0,11 % |
| BIENS DE CONSOMMATION DIVERS | 0,06 % |
| CONSTRUCTION MECANIQUE | 0,04 % |
| Total du Portefeuille-Titres | 96,70 % |

|  |  |
| --- | --- |
| Medium | %  DE L ' ACTIF NET |
|  |
| SOCIETES D'INVESTISSEMENT (OPC, FCP) | 70,02 % |
| ETATS | 13,83 % |
| BANQUES | 2,56 % |
| IMMOBILIER | 1,45 % |
| SERVICES FINANCIERS - HOLDINGS | 1,43 % |
| PHARMACIE - COSMETIQUE | 1,32 % |
| ORGANISMES EUROPEENS | 1,08 % |
| PHOTO & OPTIQUE | 0,65 % |
| BOISSONS & TABACS | 0,62 % |
| PRODUITS CHIMIQUES | 0,59 % |
| PETROLE & DERIVES | 0,54 % |
| TELECOMMUNICATIONS | 0,50 % |
| SOURCES D'ENERGIE | 0,48 % |
| COMPOSANTS & INSTRUMENTS ELECTRONIQUES | 0,44 % |
| ALIMENTATION & PRODUITS D'ENTRETIEN | 0,38 % |
| TEXTILE & HABILLEMENT | 0,31 % |
| BIENS DE CONSOMMATION DIVERS | 0,25 % |
| SERVICES DIVERS | 0,23 % |
| SOINS & SERVICE DE SANTE | 0,22 % |
| IT & INTERNET | 0,20 % |
| DIFFUSION & EDITION | 0,20 % |
| INFORMATIQUE - REPRODUCTION | 0,19 % |
| DISTRIBUTION | 0,14 % |
| EQUIPEMENTS & SERVICES PROD. ENERGIE | 0,08 % |
| CONSTRUCTION MECANIQUE | 0,07 % |
| LOISIRS & TOURISME | 0,05 % |
| MATERIAUX DE CONSTRUCTION | 0,04 % |
| Total du Portefeuille-Titres | 97,87 % |

| High | %  DE L ' ACTIF NET |
| --- | --- |
|  |
| SOCIETES D'INVESTISSEMENT (OPC, FCP) | 82,68 % |
| ETATS | 3,55 % |
| BANQUES | 1,55 % |
| PHARMACIE - COSMETIQUE | 1,54 % |
| PHOTO & OPTIQUE | 1,05 % |
| IMMOBILIER | 1,02 % |
| PETROLE & DERIVES | 0,74 % |
| SERVICES FINANCIERS - HOLDINGS | 0,66 % |
| BOISSONS & TABACS | 0,63 % |
| PRODUITS CHIMIQUES | 0,60 % |
| ALIMENTATION & PRODUITS D'ENTRETIEN | 0,51 % |
| DIFFUSION & EDITION | 0,47 % |
| SOURCES D'ENERGIE | 0,45 % |
| TEXTILE & HABILLEMENT | 0,45 % |
| IT & INTERNET | 0,45 % |
| COMPOSANTS & INSTRUMENTS ELECTRONIQUES | 0,40 % |
| TELECOMMUNICATIONS | 0,36 % |
| SOINS & SERVICE DE SANTE | 0,33 % |
| INFORMATIQUE - REPRODUCTION | 0,19 % |
| BIENS DE CONSOMMATION DIVERS | 0,18 % |
| CONSTRUCTION MECANIQUE | 0,12 % |
| DISTRIBUTION | 0,10 % |
| Total du Portefeuille-Titres | 98,03 % |

|  |  |
| --- | --- |
| Medium Low | %  DE L ' ACTIF NET |
|  |
| SOCIETES D'INVESTISSEMENT (OPC, FCP) | 71,40 % |
| ETATS | 11,42 % |
| SERVICES FINANCIERS - HOLDINGS | 2,62 % |
| BANQUES | 2,42 % |
| IMMOBILIER | 1,20 % |
| PHARMACIE - COSMETIQUE | 1,17 % |
| BOISSONS & TABACS | 0,91 % |
| PRODUITS CHIMIQUES | 0,56 % |
| PETROLE & DERIVES | 0,55 % |
| SOURCES D'ENERGIE | 0,53 % |
| TELECOMMUNICATIONS | 0,52 % |
| PHOTO & OPTIQUE | 0,48 % |
| COMPOSANTS & INSTRUMENTS ELECTRONIQUES | 0,46 % |
| ALIMENTATION & PRODUITS D'ENTRETIEN | 0,41 % |
| TEXTILE & HABILLEMENT | 0,40 % |
| DISTRIBUTION | 0,28 % |
| SERVICES DIVERS | 0,24 % |
| INFORMATIQUE - REPRODUCTION | 0,18 % |
| DIFFUSION & EDITION | 0,18 % |
| MATERIAUX DE CONSTRUCTION | 0,18 % |
| ORGANISMES EUROPEENS | 0,17 % |
| SOINS & SERVICE DE SANTE | 0,17 % |
| IT & INTERNET | 0,16 % |
| BIENS DE CONSOMMATION DIVERS | 0,10 % |
| EQUIPEMENTS & SERVICES PROD. ENERGIE | 0,07 % |
| CONSTRUCTION MECANIQUE | 0,05 % |
| Total du Portefeuille-Titres | 96,83 % |

| Low | %  DE L ' ACTIF NET |
| --- | --- |
|  |
| EURO | 84,53 % |
| DOLLAR DES ETATS-UNIS | 11,41 % |
| FRANC SUISSE | 0,37 % |
| LIVRE STERLING | 0,35 % |
| COURONNE SUÉDOISE | 0,04 % |
| Total du Portefeuille-Titres | 96,70 % |

| Medium | %  DE L ' ACTIF NET |
| --- | --- |
|  |
| EURO | 81,99 % |
| DOLLAR DES ETATS-UNIS | 14,37 % |
| FRANC SUISSE | 0,92 % |
| LIVRE STERLING | 0,52 % |
| COURONNE SUÉDOISE | 0,07 % |
| Total du Portefeuille-Titres | 97,87 % |

| High | %  DE L ' ACTIF NET |
| --- | --- |
|  |
| EURO | 81,62 % |
| DOLLAR DES ETATS-UNIS | 14,73 % |
| FRANC SUISSE | 1,18 % |
| LIVRE STERLING | 0,38 % |
| COURONNE SUÉDOISE | 0,12 % |
| Total du Portefeuille-Titres | 98,03 % |

| Medium Low | %  DE L ' ACTIF NET |
| --- | --- |
|  |
| EURO | 83,43 % |
| DOLLAR DES ETATS-UNIS | 12,19 % |
| FRANC SUISSE | 0,69 % |
| LIVRE STERLING | 0,47 % |
| COURONNE SUÉDOISE | 0,05 % |
| Total du Portefeuille-Titres | 96,83 % |


## Low
| Actions en circulation au début de la période | - A | 4.502.938,153 |
| --- | --- | --- |
| - B | 2.171.644,623 |
| - C1 | 552.416,302 |
| - C2 | 867.533,178 |
| - D1 | 1.524.149,366 |
| - D2 | 2.626.951,734 |
| Actions émises au cours de la période | - A | 321.133,717 |
| - B | 19.875,860 |
| - C1 | 3.688,985 |
| - C2 | 4.142,000 |
| - D1 | 164.382,851 |
| - D2 | 62.845,826 |
| Actions remboursées au cours de la période | - A | 440.026,835 |
| - B | 175.393,759 |
| - C1 | 67.968,091 |
| - C2 | 60.282,000 |
| - D1 | 123.021,499 |
| - D2 | 314.402,603 |
| Actions en circulation à la fin de la période | - A | 4.384.045,035 |
| - B | 2.016.126,724 |
| - C1 | 488.137,196 |
| - C2 | 811.393,178 |
| - D1 | 1.565.510,718 |
| - D2 | 2.375.394,957 |


## Medium
| Actions en circulation au début de la période | - A | 21.981.002,953 |
| --- | --- | --- |
| - B | 10.577.776,062 |
| - C1 | 4.416.721,905 |
| - C2 | 6.279.546,568 |
| - D1 | 10.756.932,051 |
| - D2 | 12.532.995,514 |
| Actions émises au cours de la période | - A | 712.621,391 |
| - B | 96.851,363 |
| - C1 | 11.955,879 |
| - C2 | 47.031,407 |
| - D1 | 368.597,069 |
| - D2 | 388.903,877 |
| Actions remboursées au cours de la période | - A | 1.466.068,709 |
| - B | 539.634,751 |
| - C1 | 323.521,340 |
| - C2 | 292.989,958 |
| - D1 | 646.112,013 |
| - D2 | 646.134,732 |
| Actions en circulation à la fin de la période | - A | 21.227.555,635 |
| - B | 10.134.992,674 |
| - C1 | 4.105.156,444 |
| - C2 | 6.033.588,017 |
| - D1 | 10.479.417,107 |
| - D2 | 12.275.764,659 |


## High
| Actions en circulation au début de la période | - A | 4.719.329,574 |
| --- | --- | --- |
| - B | 2.897.453,624 |
| - C1 | 1.470.832,333 |
| - C2 | 1.864.319,191 |
| - D1 | 2.495.724,536 |
| - D2 | 2.347.624,135 |
| Actions émises au cours de la période | - A | 191.231,744 |
| - B | 63.255,982 |
| - C1 | 9.690,203 |
| - C2 | 9.920,752 |
| - D1 | 161.436,296 |
| - D2 | 61.201,660 |
| Actions remboursées au cours de la période | - A | 355.970,916 |
| - B | 147.268,779 |
| - C1 | 119.154,316 |
| - C2 | 23.655,327 |
| - D1 | 164.468,094 |
| - D2 | 149.352,888 |
| Actions en circulation à la fin de la période | - A | 4.554.590,402 |
| - B | 2.813.440,827 |
| - C1 | 1.361.368,220 |
| - C2 | 1.850.584,616 |
| - D1 | 2.492.692,738 |
| - D2 | 2.259.472,907 |


## Medium Low
| Actions en circulation au début de la période | - A | 4.799.058,926 |
| --- | --- | --- |
| - B | 4.357.357,003 |
| - C1 | 1.553.364,364 |
| - C2 | 2.158.169,064 |
| - D1 | 2.127.237,506 |
| - D2 | 2.211.048,090 |
| Actions émises au cours de la période | - A | 52.461,124 |
| - B | 5.961,705 |
| - C1 | 0,000 |
| - C2 | 1.725,953 |
| - D1 | 27.439,000 |
| - D2 | 22.274,266 |
| Actions remboursées au cours de la période | - A | 278.287,208 |
| - B | 263.511,968 |
| - C1 | 50.463,950 |
| - C2 | 87.045,552 |
| - D1 | 146.803,526 |
| - D2 | 32.430,596 |
| Actions en circulation à la fin de la période | - A | 4.573.232,842 |
| - B | 4.099.806,740 |
| - C1 | 1.502.900,414 |
| - C2 | 2.072.849,465 |
| - D1 | 2.007.872,980 |
| - D2 | 2.200.891,760 |

| Compartiment | Date d’Evaluation | Actif Net Total | Classe d'actions | Actions en Circulation | Valeur de l’Action | Devise |
| --- | --- | --- | --- | --- | --- | --- |

| Low (EUR) | 31.03.2021 31.03.2022 31.03.2023 30.09.2023 | 770.863.221,25 698.280.697,53 594.315.792,24 557.239.983,36 | - A | 5.176.073,781 | 34,96 | EUR |
| --- | --- | --- | --- | --- | --- | --- |
| - B | 2.449.634,680 | 93,95 | EUR |
| - C1 | 684.064,185 | 94,39 | EUR |
| - C2 | 1.254.949,873 | 94,96 | EUR |
| - D1 | 1.899.019,708 | 35,12 | EUR |
| - D2 | 3.093.814,866 | 35,34 | EUR |
| - A | 4.741.596,362 | 34,33 | EUR |
| - B | 2.270.289,632 | 93,00 | EUR |
| - C1 | 621.524,837 | 93,61 | EUR |
| - C2 | 958.110,845 | 94,37 | EUR |
| - D1 | 1.600.233,958 | 34,56 | EUR |
| - D2 | 3.457.979,746 | 34,84 | EUR |
| - A | 4.502.938,153 | 31,73 | EUR |
| - B | 2.171.644,623 | 87,92 | EUR |
| - C1 | 552.416,302 | 88,68 | EUR |
| - C2 | 867.533,178 | 89,57 | EUR |
| - D1 | 1.524.149,366 | 32,02 | EUR |
| - D2 | 2.626.951,734 | 32,36 | EUR |
| - A | 4.384.045,035 | 31,51 | EUR |
| - B | 2.016.126,724 | 87,71 | EUR |
| - C1 | 488.137,196 | 88,59 | EUR |
| - C2 | 811.393,178 | 89,57 | EUR |
| - D1 | 1.565.510,718 | 31,84 | EUR |
| - D2 | 2.375.394,957 | 32,21 | EUR |

| Medium (EUR) | 31.03.2021 31.03.2022 31.03.2023 30.09.2023 | 5.911.535.165,89 5.922.678.526,87 5.149.965.462,42 4.914.484.603,11 | - A | 21.512.950,718 | 58,07 | EUR |
| --- | --- | --- | --- | --- | --- | --- |
| - B | 10.990.153,447 | 132,94 | EUR |
| - C1 | 5.318.059,033 | 134,13 | EUR |
| - C2 | 7.731.674,743 | 134,98 | EUR |
| - D1 | 11.041.288,814 | 58,58 | EUR |
| - D2 | 13.531.178,804 | 58,95 | EUR |
| - A | 21.483.954,356 | 58,42 | EUR |
| - B | 11.072.309,412 | 134,80 | EUR |
| - C1 | 4.744.898,821 | 136,41 | EUR |
| - C2 | 7.177.036,388 | 137,61 | EUR |
| - D1 | 11.423.902,959 | 59,10 | EUR |
| - D2 | 14.504.599,919 | 59,63 | EUR |
| - A | 21.981.002,953 | 53,53 | EUR |
| - B | 10.577.776,062 | 125,56 | EUR |
| - C1 | 4.416.721,905 | 127,44 | EUR |
| - C2 | 6.279.546,568 | 128,89 | EUR |
| - D1 | 10.756.932,051 | 54,32 | EUR |
| - D2 | 12.532.995,514 | 54,96 | EUR |
| - A | 21.227.555,635 | 52,90 | EUR |
| - B | 10.134.992,674 | 124,73 | EUR |
| - C1 | 4.105.156,444 | 126,80 | EUR |
| - C2 | 6.033.588,017 | 128,39 | EUR |
| - D1 | 10.479.417,107 | 53,77 | EUR |
| - D2 | 12.275.764,659 | 54,47 | EUR |

| Compartiment | Date d’Evaluation | Actif Net Total | Classe d'actions | Actions en Circulation | Valeur de l’Action | Devise |
| --- | --- | --- | --- | --- | --- | --- |

| High (EUR) | 31.03.2021 31.03.2022 31.03.2023 30.09.2023 | 1.326.373.645,12 1.445.215.003,77 1.319.203.166,71 1.285.202.449,12 | - A | 4.480.012,199 | 62,56 | EUR |
| --- | --- | --- | --- | --- | --- | --- |
| - B | 2.869.505,804 | 121,46 | EUR |
| - C1 | 1.621.547,904 | 122,54 | EUR |
| - C2 | 1.837.358,873 | 123,28 | EUR |
| - D1 | 2.310.313,097 | 63,12 | EUR |
| - D2 | 1.991.840,899 | 63,50 | EUR |
| - A | 4.429.634,536 | 64,43 | EUR |
| - B | 3.001.888,465 | 126,07 | EUR |
| - C1 | 1.499.338,211 | 127,58 | EUR |
| - C2 | 1.935.716,528 | 128,60 | EUR |
| - D1 | 2.633.004,134 | 65,20 | EUR |
| - D2 | 2.577.592,968 | 65,74 | EUR |
| - A | 4.719.329,574 | 59,42 | EUR |
| - B | 2.897.453,624 | 118,25 | EUR |
| - C1 | 1.470.832,333 | 120,02 | EUR |
| - C2 | 1.864.319,191 | 121,23 | EUR |
| - D1 | 2.495.724,536 | 60,32 | EUR |
| - D2 | 2.347.624,135 | 60,95 | EUR |
| - A | 4.554.590,402 | 59,46 | EUR |
| - B | 2.813.440,827 | 118,95 | EUR |
| - C1 | 1.361.368,220 | 120,92 | EUR |
| - C2 | 1.850.584,616 | 122,25 | EUR |
| - D1 | 2.492.692,738 | 60,46 | EUR |
| - D2 | 2.259.472,907 | 61,15 | EUR |

| Medium Low (EUR) | 31.03.2021 31.03.2022 31.03.2023 30.09.2023 | 1.414.111.850,60 1.371.082.939,71 1.165.966.487,22 1.112.118.525,30 | - A | 5.176.861,823 | 69,69 | EUR |
| --- | --- | --- | --- | --- | --- | --- |
| - B | 4.773.700,691 | 74,52 | EUR |
| - C1 | 1.905.899,078 | 74,97 | EUR |
| - C2 | 2.865.089,491 | 75,42 | EUR |
| - D1 | 2.479.244,955 | 70,12 | EUR |
| - D2 | 2.335.731,394 | 70,55 | EUR |
| - A | 4.993.291,959 | 69,34 | EUR |
| - B | 4.616.405,690 | 74,85 | EUR |
| - C1 | 1.683.662,765 | 75,49 | EUR |
| - C2 | 2.839.959,776 | 76,10 | EUR |
| - D1 | 2.400.988,975 | 69,94 | EUR |
| - D2 | 2.384.354,738 | 70,52 | EUR |
| - A | 4.799.058,926 | 64,42 | EUR |
| - B | 4.357.357,003 | 70,42 | EUR |
| - C1 | 1.553.364,364 | 71,20 | EUR |
| - C2 | 2.158.169,064 | 71,92 | EUR |
| - D1 | 2.127.237,506 | 65,15 | EUR |
| - D2 | 2.211.048,090 | 65,83 | EUR |
| - A | 4.573.232,842 | 64,03 | EUR |
| - B | 4.099.806,740 | 70,34 | EUR |
| - C1 | 1.502.900,414 | 71,22 | EUR |
| - C2 | 2.072.849,465 | 72,01 | EUR |
| - D1 | 2.007.872,980 | 64,86 | EUR |
| - D2 | 2.200.891,760 | 65,60 | EUR |


## NOTE 1 - PRINCIPES ET MÉTHODES COMPTABLES
Les états financiers de la SICAV ont été préparés sur base du principe de continuité d'exploitation et conformément aux normes et principes comptables communément acceptés au Luxembourg sur la base des valeurs nettes d'inventaire officielles calculées à la clôture de l'exercice.
- Evaluation du portefeuille-titres et des instruments dérivésLes titres cotés à une bourse officielle sont évalués sur la base du dernier cours connu au 30 septembre 2023 et, s'il y a plusieurs marchés, au cours du marché principal du titre en question.

La valeur de toutes valeurs mobilières qui sont négociées sur un autre marché réglementé fournissant des garanties comparables sera basée sur leur dernier cours publié disponible le Jour d'évaluation en question.
Dans la mesure où des valeurs mobilières en portefeuille au Jour d'évaluation ne sont pas négociées ou cotées sur une bourse de valeurs ou sur un autre marché réglementé ou, si pour des valeurs négociées ou cotées sur une telle bourse ou sur un tel autre marché, le prix déterminé conformément aux dispositions ci-dessus n'est pas représentatif de la valeur réelle de ces valeurs mobilières, celles-ci seront évaluées sur base de leur valeur probable de réalisation qui sera estimée avec prudence et bonne foi.
Les titres non cotés en bourse ou dont le cours n'est pas représentatif sont évalués à leur dernière valeur marchande connue ou, en l'absence de valeur marchande, à la valeur marchande probable de réalisation selon les critères d'évaluation jugés prudents par le Conseil d'Administration.
La valeur des instruments dérivés (futures et options) qui sont négociés ou cotés à une bourse de valeurs ou un marché organisé est déterminée suivant leur dernier cours de liquidation connu au 30 septembre 2023 sur la bourse de valeurs ou le marché organisé sur lequel sont traités les dits instruments, étant entendu que si l’un des sus-dits instruments dérivés ne peut être liquidé au jour pris en compte pour déterminer les valeurs applicables, la valeur de cet instrument dérivé ou de ces instruments  dérivés  sera  déterminée  de  façon  prudente  et  raisonnable  par  le Conseil d’Administration.

## Les actions ou les parts  des OPC sont évaluées  sur base de leur dernière valeur  nette

## d’inventaire disponible.
Les instruments du marché monétaire et autres titres à revenu fixe pourront être évalués sur base du coût amorti. Si toutefois il existe un prix de marché pour ces titres, l’évaluation selon la méthode décrite précédemment sera comparée périodiquement au prix de marché et en cas de divergence notable, le Conseil d’Administration pourra adapter l’évaluation en conséquence.

## Les contrats de change à terme sont évalués sur base des derniers taux « forward » disponibles à la date

## d’évaluation.
- Plus ou moins-values nettes réalisées sur investissementsLes plus ou moins-values nettes réalisées sur ventes de titres sont calculées sur base du coût moyen des titres vendus.

Le montant des plus ou moins-values nettes réalisées imputable à la variation des cours de change est enregistré dans le compte de « Plus ou moins-value nette réalisée sur devises » lors de l’opération de vente.
- Conversion des devises étrangèresLa comptabilité de la SICAV est tenue en EUR. Les avoirs en banque, les autres actifs nets ainsi que la valeur boursière des titres en portefeuille en d'autres devises que l’EUR sont convertis en EUR aux cours de change en vigueur à la date de clôture.


## Les revenus et frais en devises autres que l’EUR sont convertis en EUR aux cours de change en vigueur à la date de paiement.
- Coût d'acquisition des titres en portefeuillePour les titres libellés en devises autres que la devise de la SICAV, le coût d'acquisition est calculé sur base du cours de change en vigueur au jour de l'achat.
- Variation des plus ou moins-values nettes non réaliséesLa variation de la plus-value et moins-value non réalisée à la fin de l'exercice figure également dans le résultat des opérations.
- Revenus, dépenses et provisions y relativesLes intérêts sont provisionnés chaque jour et les dividendes sont enregistrés à l’ « ex-date ». Les intérêts et revenus sont comptabilisés nets des précomptes mobiliers non recouvrables.

Lorsque la SICAV fait face à des frais concernant un compartiment en particulier, ces derniers sont alloués à ce compartiment. Les dépenses non attribuables à un compartiment en particulier sont réparties entre les différents compartiments au pro rata de la valeur nette d’inventaire de chaque compartiment.
- Variation du portefeuille-titresLe tableau des variations du portefeuille-titres des compartiments est disponible sans frais au siège social de la SICAV.
- Etats financiers combinésLes actifs nets des différents compartiments de la SICAV sont exprimés dans leur devise de référence.

Les états financiers combinés de la SICAV sont établis en EUR et sont égaux à la somme des rubriques correspondantes dans les états financiers de chaque compartiment converti dans cette devise aux cours de change en vigueur à la date des états financiers.

## NOTE 2 - TAXES ET FRAIS À PAYER
| Commission de gestion | 17.865.162,27 | EUR |
| --- | --- | --- |
| Commission de banque dépositaire | 490.862,19 | EUR |
| Taxe d'abonnement | 681.661,60 | EUR |
| Frais et commissions divers | 1.286.639,74 | EUR |
| Total | 20.324.325.34 | EUR |

| NOTE 3 - COMMISSION DE GESTION |
| --- |
| En rémunération de ses prestations, la Société de Gestion perçoit du Compartiment une commission annuelle fixée à : |
|  |
| Cette commission est payable trimestriellement et est calculée sur base des actifs nets moyens de chacune des classes d’actions du Compartiment au cours du trimestre sous revue. Il faut signaler que l’activité d’un OPC ou d’un compartiment qui investit dans d’autres OPC peut entraîner une redondance de certains frais. En sus des frais supportés par le compartiment dans le cadre de sa gestion quotidienne, des commissions de gestion seront indirectement imputées sur les actifs du compartiment via les OPC cibles qu’il détient. Les commissions de gestion cumulées ne pourront excéder 5 % ; les commissions de performance et de conseil sont couvertes par le terme « commissions de gestion ». Lorsque la SICAV investit dans des parts d'autres OPCVM et/ou d'autres OPC qui sont gérés, de façon directe ou par délégation, par la même Société de Gestion ou par toute autre société à laquelle la Société de Gestion est liée dans le cadre d'une communauté de gestion ou de contrôle ou par une importante participation directe ou indirecte, la Société de Gestion ou l'autre société ne peut facturer des commissions de souscription ou de rachat pour l'investissement de la SICAV dans les parts d'autres OPCVM et/ou d'autres OPC. Ceci ne concerne pas les éventuelles commissions de souscriptions ou de rachats prélevées au bénéfice exclusif de ces autres OPCVM ou OPC et qui leur sont intégralement versées. |

| NOTE 4 - TAXE D'ABONNEMENT |
| --- |
| La SICAV est régie par les lois fiscales luxembourgeoises. En vertu de la législation et des règlements en vigueur actuellement à Luxembourg, la SICAV est soumise à la taxe d'abonnement au taux annuel de 0,05% payable trimestriellement et calculée sur l'actif net de la SICAV à chaque fin de trimestre. Cette taxe est réduite à 0,01% par an des avoirs nets attribuables aux classes d’actions réservées aux investisseurs institutionnels tel que défini par la Loi de 2010. La taxe d’abonnement n’est pas due sur les quotités d’actifs investis en organismes de placement collectif déjà soumis à l’application de cette taxe. Cependant, la SICAV étant enregistrée en Belgique, elle est soumise à une taxe au taux annuel de 0,0925% calculée, pour l’année 2023, sur base de la valeur des actions distribuées en Belgique telle qu’établie au 31 décembre 2022 et pour l’année 2022, sur base de la valeur des actions distribuées en Belgique telle qu’établie au 31 décembre 2021. Le montant relevant des 3 mois non encore écoulés de l'année civile 2023 est enregistré en "taxe et frais payés d'avance". |
| NOTE 5 - FRAIS D'ADMINISTRATION |
| En rémunération de ses fonctions d’Agent Domiciliataire, d’Agent Administratif, d’Agent de Transfert et Teneur de Registre de la SICAV, Degroof Petercam Asset Services S.A. reçoit de chaque compartiment, les rémunérations suivantes : - une commission annuelle au taux maximum de 0,100%, payable trimestriellement et calculée sur base des actifs nets moyens de chaque compartiment au cours du trimestre sous revue;
- une commission annuelle forfaitaire de EUR 2.000,- par classe d’actions active.
 |
| NOTE 6 - COMMISSION DE BANQUE DÉPOSITAIRE |
| En rémunération de ses prestations, la Banque Dépositaire reçoit de chaque compartiment une commission annuelle au taux maximum de 0,050% par an de chaque compartiment. Cette commission est payable trimestriellement et calculée sur base des actifs nets moyens de chaque compartiment au cours du trimestre sous revue. |
| NOTE 7 - FUTURES |
| Les contrats futures sont évalués selon la méthode décrite au point a) de la Note 1 chaque jour ouvrable bancaire. Les gains/(pertes) non-réalisés résultant des contrats futures ouverts à la date de clôture sont enregistrés directement dans les avoirs en banque. Toute variation de l'appel de marge qui ne serait pas encore transférée en avoirs en banque à la date de clôture est reflétée dans le compte "Montants à recevoir du/(payer au) broker sur futures". Au 30 septembre 2023, les contrats futures suivant sont déposés chez Banque Degroof Petercam Luxembourg S.A.: |


## Low :
| Devise | Nombre de CONTRATS | Description | + / - Value Non Realisee ( EN  EUR) | Engagement ( EN  EUR) |
| --- | --- | --- | --- | --- |
|  |
| EUR | -49 | EURO STOXX 50 FUTURE | 33.565,00 | 2.045.583,40 |
| EUR | -88 | EURO BOBL FUTURE DEC | 88.880,00 | 8.644.944,00 |
| EUR | -104 | EURO-BUND FUTURE DEC | 244.400,00 | 9.524.112,00 |
| EUR | -5 | EURO-BUXL 30YR FUTUR | 34.300,00 | 349.255,00 |
| GBP | 16 | LONG GILT FUTURE DEC | -368,92 | 1.185.003,46 |
| USD | 37 | MSCI EMERGING MKTS F | -56.613,93 | 1.664.834,00 |
| USD | -21 | SP 500 EMINI FUTURE | 211.537,19 | 4.252.611,57 |
| USD | 119 | ULTRA 10YR US TREAS | -361.776,86 | 10.197.365,70 |
|  |  | Total | 193.922,48 | 37.863.709,13 |

Au titre de ces contrats futures, le compartiment maintenait auprès la Banque Degroof Petercam Luxembourg S.A. un dépôt de garantie de EUR 1.354.607,84 en faveur de la contrepartie à la clôture. Ce dépôt de garantie est destiné à couvrir les risques de marchés en cas d’évolution journalière défavorable des cours des contrats futures achetés ou vendus.

## Medium :
| Devise | Nombre de CONTRATS | Description | + / - Value Non Realisee ( EN  EUR) | Engagement ( EN  EUR) |
| --- | --- | --- | --- | --- |
|  |
| EUR | 345 | EURO-BUND FUTURE DEC | -821.100,00 | 31.594.410,00 |
| EUR | -838 | EURO STOXX 50 FUTURE | 590.790,00 | 34.983.650,80 |
| GBP | 140 | LONG GILT FUTURE DEC | -3.228,04 | 10.368.780,26 |
| JPY | 107 | TOPIX INDEX FUTURE D | -260.063,88 | 15.735.151,68 |
| USD | 561 | MSCI EMERGING MKTS F | -855.740,26 | 25.242.483,12 |
| USD | 1.135 | ULTRA 10YR US TREAS | -3.450.560,80 | 97.260.588,84 |
| USD | -217 | SP 500 EMINI FUTURE | 2.186.909,09 | 43.943.652,89 |
|  |  | Total | -2.612.993,89 | 259.128.717,60 |

Au titre de ces contrats futures, le compartiment maintenait auprès la Banque Degroof Petercam Luxembourg S.A. un dépôt de garantie de EUR 10.592.045,37 en faveur de la contrepartie à la clôture. Ce dépôt de garantie est destiné à couvrir les risques de marchés en cas d’évolution journalière défavorable des cours des contrats futures achetés ou vendus.

## High :
| Devise | Nombre de contrats | Description | + / - Value Non Realisee ( EN  EUR) | Engagement ( EN  EUR) |
| --- | --- | --- | --- | --- |
|  |
| EUR | 30 | EURO-BUND FUTURE DEC | -71.100,00 | 2.747.340,00 |
| EUR | -117 | EURO STOXX 50 FUTURE | 84.825,00 | 4.884.352,20 |
| JPY | 36 | TOPIX INDEX FUTURE D | -87.725,99 | 5.294.069,73 |
| USD | 374 | MSCI EMERGING MKTS F | -575.792,21 | 16.828.322,08 |
| USD | -7 | SP 500 EMINI FUTURE | 70.545,45 | 1.417.537,19 |
| USD | 117 | ULTRA 10YR US TREAS | -355.696,58 | 10.025.981,40 |
|  |  | Total | -934.944,33 | 41.197.602,60 |

Au titre de ces contrats futures, le compartiment maintenait auprès la Banque Degroof Petercam Luxembourg S.A. un dépôt de garantie de EUR 1.609.177,12 en faveur de la contrepartie à la clôture. Ce dépôt de garantie est destiné à couvrir les risques de marchés en cas d’évolution journalière défavorable des cours des contrats futures achetés ou vendus.

## Medium Low :
| Devise | Nombre de CONTRATS | Description | + / - Value Non Realisee ( EN  EUR) | Engagement ( EN  EUR) |
| --- | --- | --- | --- | --- |
|  |
| EUR | -60 | EURO BOBL FUTURE DEC | 60.600,00 | 5.894.280,00 |
| EUR | -175 | EURO STOXX 50 FUTURE | 123.375,00 | 7.305.655,00 |
| EUR | -8 | EURO-BUXL 30YR FUTUR | 55.200,00 | 558.808,00 |
| EUR | -25 | EURO-BUND FUTURE DEC | 59.500,00 | 2.289.450,00 |
| GBP | 31 | LONG GILT FUTURE DEC | -714,78 | 2.295.944,20 |
| JPY | 9 | TOPIX INDEX FUTURE D | -21.931,50 | 1.323.517,43 |
| USD | 25 | MSCI EMERGING MKTS F | -38.724,91 | 1.124.887,84 |
| USD | 152 | ULTRA 10YR US TREAS | -462.101,53 | 13.025.206,61 |
| USD | -49 | SP 500 EMINI FUTURE | 493.702,48 | 9.922.760,33 |
|  |  | Total | 268.904,76 | 43.740.509,41 |

Au titre de ces contrats futures, le compartiment maintenait auprès la Banque Degroof Petercam Luxembourg S.A. un dépôt de garantie de EUR 1.838.775,70 en faveur de la contrepartie à la clôture. Ce dépôt de garantie est destiné à couvrir les risques de marchés en cas d’évolution journalière défavorable des cours des contrats futures achetés ou vendus.

## NOTE 8 - CHANGES À TERME

## Au 30 septembre 2023, les opérations à terme suivantes ont été conclues auprès de la contrepartie Banque Degroof Petercam Luxembourg S.A. :

## Low :
| Echéance | Devise Achetée | Montant Acheté | Devise Vendue | Montant Vendu | + / - Value Non Réalisée ( EN  EUR) | Engagement (en EUR) |
| --- | --- | --- | --- | --- | --- | --- |
|  |
| 24/11/2023 | CHF | 2.500.000,00 | EUR | 2.632.687,45 | -42.066,20 | 2.581.178,05 |
| 24/11/2023 | JPY | 1.450.000.000 | EUR | 9.256.717,50 | -19.927,70 | 9.177.682,78 |
| 10/11/2023 | EUR | 3.514.165,49 | USD | 3.875.000,00 | -139.149,78 | 3.659.976,39 |
| 24/11/2023 | EUR | 27.200.596,14 | USD | 29.640.000,00 | -726.032,32 | 27.995.277,45 |
| 20/10/2023 | EUR | 13.187.474,55 | USD | 14.900.000,00 | -873.613,27 | 14.073.199,53 |
|  |  |  |  | Total | -1.800.789,27 | 57.487.314,19 |

Au titre de ces contrats dérivés OTC, le compartiment a reçu de Banque Degroof Petercam Luxembourg S.A. un collatéral de EUR 2.030.000,00 à la clôture. Ce collatéral en espèces vise, suite à l’absence d’appel de marge, à couvrir totalement le fonds du risque d’un éventuel défaut de la contrepartie.

## Medium :
| Echéance | Devise Achetée | Montant Acheté | Devise Vendue | Montant Vendu | + / - Value Non Réalisée ( EN  EUR) | Engagement (en EUR) |
| --- | --- | --- | --- | --- | --- | --- |
|  |
| 24/11/2023 | JPY | 19.080.000.000 | EUR | 121.805.634,47 | -262.221,19 | 120.765.646,51 |
| 24/11/2023 | CHF | 20.200.000,00 | EUR | 21.272.114,57 | -339.894,88 | 20.855.918,64 |
| 24/11/2023 | EUR | 149.942.827,36 | USD | 163.390.000,00 | -4.002.240,95 | 154.323.494,68 |
| 20/10/2023 | EUR | 146.389.818,21 | USD | 165.400.000,00 | -9.697.693,53 | 156.221.959,86 |
| 10/11/2023 | EUR | 82.145.318,68 | USD | 90.580.000,00 | -3.252.693,55 | 85.553.719,01 |
|  |  |  |  | Total | -17.554.744,10 | 537.720.738,70 |

Au titre de ces contrats dérivés OTC, le compartiment a reçu de Banque Degroof Petercam Luxembourg S.A. un collatéral de EUR 18.050.000,00 à la clôture. Ce collatéral en espèces vise, suite à l’absence d’appel de marge, à couvrir totalement le fonds du risque d’un éventuel défaut de la contrepartie.

## High :
| Echéance | Devise Achetée | Montant Acheté | Devise Vendue | Montant Vendu | + / - Value Non Réalisée ( EN  EUR) | Engagement (en EUR) |
| --- | --- | --- | --- | --- | --- | --- |
|  |
| 24/11/2023 | CHF | 4.900.000,00 | EUR | 5.160.067,40 | -82.449,75 | 5.059.108,98 |
| 24/11/2023 | JPY | 3.250.000.000 | EUR | 20.747.815,10 | -44.665,56 | 20.570.668,30 |
| 10/11/2023 | EUR | 15.689.048,50 | USD | 17.300.000,00 | -621.236,46 | 16.340.023,61 |
| 24/11/2023 | EUR | 17.032.492,05 | USD | 18.560.000,00 | -454.627,53 | 17.530.106,26 |
| 20/10/2023 | EUR | 7.257.536,33 | USD | 8.200.000,00 | -480.780,45 | 7.744.982,29 |
|  |  |  |  | Total | -1.683.759,75 | 67.244.889,44 |

Au titre de ces contrats dérivés OTC, le compartiment a reçu de Banque Degroof Petercam Luxembourg S.A. un collatéral de EUR 1.640.000,00 à la clôture. Ce collatéral en espèces vise, suite à l’absence d’appel de marge, à couvrir totalement le fonds du risque d’un éventuel défaut de la contrepartie.

## Medium Low :
| Echéance | Devise Achetée | Montant Acheté | Devise Vendue | Montant Vendu | + / - Value Non Réalisée ( EN  EUR) | Engagement (en EUR) |
| --- | --- | --- | --- | --- | --- | --- |
|  |
| 24/11/2023 | CHF | 4.900.000,00 | EUR | 5.160.067,40 | -82.449,75 | 5.059.108,98 |
| 24/11/2023 | JPY | 3.430.000.000 | EUR | 21.896.924,85 | -47.139,34 | 21.709.966,85 |
| 24/11/2023 | EUR | 40.314.513,78 | USD | 43.930.000,00 | -1.076.066,13 | 41.492.325,86 |
| 10/11/2023 | EUR | 10.429.136,29 | USD | 11.500.000,00 | -412.960,65 | 10.861.865,41 |
| 20/10/2023 | EUR | 29.118.651,87 | USD | 32.900.000,00 | -1.928.984,99 | 31.074.380,16 |
|  |  |  |  | Total | -3.547.600,86 | 110.197.647,26 |

Au titre de ces contrats dérivés OTC, le compartiment a reçu de Banque Degroof Petercam Luxembourg S.A. un collatéral de EUR 3.660.000,00 à la clôture. Ce collatéral en espèces vise, suite à l’absence d’appel de marge, à couvrir totalement le fonds du risque d’un éventuel défaut de la contrepartie.

## NOTE 9 - ENGAGEMENTS (MONTANTS À RAPPELER)

## Les compartiments Low, Medium et High ont contracté les engagements suivants dont les montants restants à appeler sont ceux indiqués dans les tableaux ci-dessous :
| Dénomination | Capital restant à appeler |
| --- | --- |
|  | Low | Medium | High |
| Carlyle Europe Partner III (en EUR) | 12.471,54 | 157.972,84 | 37.414,62 |
| Carlyle Europe Partner V (en USD) | 58.764,30 | 744.347,80 | 176.292,90 |


## NOTE 10 – DIVIDENDES PAYÉS

## NOTE 11 - EVÈNEMENT(S) SURVENU(S) PENDANT LA PÉRIODE

## Impact de l’invasion russe en Ukraine :
Même si les prix énergétiques ont diminué par rapport au début du conflit, l’économie européenne reste fragile à cause de sa trop grande dépendance au gaz et au pétrole. De nouvelles hausses des prix des matières premières ne peuvent être exclues. Les prix de l’énergie restent un des premiers canaux de transmission de risque dans l’économie mondiale, notamment au travers de l’inflation. Bien qu’elle ait atteint un pic tant en Europe qu’aux Etats-Unis, l’inflation pourrait rester durablement plus élevée qu’au cours des deux dernières décennies. En conséquence les banques centrales ont fortement relevé les taux d’intérêt mais les hausses ne sont peut-être pas terminées. L’équilibre est difficile pour les banques centrales car il peut être dangereux de trop resserrer la politique monétaire pour contenir l’inflation et pousser en même temps l’économie en récession.
La Russie s’est isolée des économies occidentales et les effets négatifs des sanctions économiques pourraient commencer à se faire sentir en Russie dans les mois à venir. On ne peut exclure un durcissement du conflit en conséquence, ce qui pourrait produire de nouveaux effets négatifs.
Il est pratiquement impossible que la Russie retrouve la position qui était la sienne dans les indices d’actions ou dans les indices obligataires. Cette guerre laissera des traces pour une longue période mais il est impossible de prévoir un scénario à court ou moyen terme. L’investisseur averti tiendra compte de l’ensemble de ces incertitudes pour considérer ses investissements.
| Détermination du risque global |
| --- |
| Chaque compartiment devra veiller à ce que son risque global lié aux instruments financiers dérivés n’excède pas la valeur nette totale de son portefeuille. Le risque global est une mesure conçue pour limiter l’effet de levier généré au niveau de chaque compartiment par l’utilisation d’instruments financiers dérivés. La méthode utilisée pour calculer ce risque au niveau de chaque compartiment de la SICAV sera celle des engagements. Cette méthode consiste à convertir les positions sur instruments financiers dérivés en positions équivalentes sur les actifs sous-jacents puis à agréger la valeur de marché de ces positions équivalentes. Le niveau de levier maximal en instruments financiers dérivés en suivant la méthodologie des engagements sera de 100%. |
| Transparence des opérations de financement sur titres et de la réutilisation ("SFTR") Conformément à l’article 13 et à la Section A de l’Annexe du Règlement EU 2015/2365 (ci-après le "Règlement"), la SICAV doit informer les investisseurs de l’utilisation qu’elle fait des opérations de financement sur titres et des contrats d’échange sur rendement global dans le rapport annuel et le rapport semestriel. A la date des états financiers, la SICAV est concernée par les exigences de publications SFTR. Toutefois aucune opération correspondante n'a été réalisée au cours de la période de référence des états financiers. |