# Portfolio analysis
- 
### Sector breakdown

IT
Consumer Disc. Health Care Communication Serv.
Financials
Industrials
18.1%
17.0%
11.3%
10.0%
5.7%
31.8%
- 
### Top holdings	 Morningstar StyleboxTM (in %)

1	Apple Inc	5.86%
2	Microsoft Corp	5.10%
3	Alphabet Inc	3.78%
| 12.93 | 18.20 | 26.49 | Large |
| --- | --- | --- | --- |
| 7.13 | 12.56 | 6.99 | Mid |
| 8.86 | 4.48 | 2.36 | Small |
| Value entiality purposes, 30th, 2021 © n contained herein | Core the stylebox is pre 2021 Morning : (1) is proprieta | Growth ented with a 3-mo star, Inc. All ri y to Morningstar | nths lag. Data as ghts reserved. T and/or its conte |

4	Facebook Inc	2.75%
5	NVIDIA Corp	2.20%
6	Applied Materials Inc	2.18%
| Energy | 2.4% | 7 | Goldman Sachs Group Inc/The | 2.06% |
| --- | --- | --- | --- | --- |
| Materials | 2.3% | 8 | Dell Technologies Inc | 2.04% |
| Consumer Staples | 0.9% | 9 | Pfizer Inc | 1.95% |
| Utilities | 0.4% | 10 | AbbVie Inc | 1.89% |

For confid September informatio
s	of
he
r	nt
Sources: VIA AM, Bloomberg - asset breakdown and top holdings as at of January 31st 2022.
providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete, or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.
- 
### Portfolio fundamentals	 Notes

| Profitability3 | Valuation4 | Earnings Growth* |
| --- | --- | --- |
| Accounting	Normalized¹ | Accounting	Normalized¹ |  |
| Fund | 29.7%	29.7% | 13.3	16.2 | 2.8% / -0.2% |
| Synthetic benchmark² | 19.4%	22.2% | 19.6	23.2 | 11.1% / 10.6% |

- Normalized Data aim to reflect the economic reality of corporates on a comparable basis.
- The synthetic benchmark is composed of 1400 US companies making up the fund selection universe, weighted by market cap.
- Accounting profitability is calculated using the RoE/RoEA, while the normalized version uses the RCR (when available).
- Accounting valuation is calculated using the P/E ratio, while the normalized version uses the economic P/E (when available).

*The 1
st 
number corresponds to the expected 12-months earnings growth, the 2
nd 
corresponds to the expected 12-months earnings growth in 12 months.

Translation (ENFR, 2022-01-31):
# Analyse du portefeuille
| 31.8% | 1	Apple Inc	5.86% |
| --- | --- |
| 18.1% | 2 | Microsoft Corp | 5.10% |
| 17.0% | 3 | Alphabet Inc | 3.78% |
| 11.3% | 4 | Facebook Inc | 2.75% |
| 10.0% | 5 | NVIDIA Corp | 2.20% |
| 5.7% | 6 | Applied Materials Inc | 2.18% |
| 2.4% | 7 | Goldman Sachs Group Inc/The | 2.06% |
| 2.3% | 8 | Dell Technologies Inc | 2.04% |
| 0.9% | 9 | Pfizer Inc | 1.95% |
| 0.4% | 10 | AbbVie Inc | 1.89% |

- 
### Répartition par secteur

IT
Biens de conso.
Santé
Serv. communication
Finance
Biens et svs. indus.
Energie Matériaux
- 
### 10 positions principales
- Morningstar Stylebox
- TM 
- (en %)Conso. non cycliquePour des r de délai. De	reés.

Utilities
Sources : VIA AM, Bloomberg - *répartitions et positions au 31 janvier 2022.
| Rentabilité3 | Evaluation4 | Croissance des BPA* |
| --- | --- | --- |
| Comptable	Normalisée¹ | Comptable	Normalisée¹ |  |
| Fonds | 29.7%	29.7% | 13.3	16.2 | 2.8% / -0.2% |
| Benchmark synthétique² | 19.4%	22.2% | 19.6	23.2 | 11.1% / 10.6% |

- 
### Fondamentaux du portefeuille

*Le 1
er 
nombre correspond à la croissance attendue à 12 mois des BPA, le 2
nd 
à la croissance attendue à 12 mois dans 12 mois