# Inventory at 31/12/2021
Title	Listing	Quantity or Nominal	Present Value (EUR) % of net Asset
	currency	
Equities & similar values
Equities & similar securities negotiated on a regulated or similar market BELGIUM
| KBC GROUP NV COMMON STOCK | EUR | 200,000 | 15,092,000.00 | 1.91 |
| --- | --- | --- | --- | --- |
| UMICORE COMMON STOCK | EUR | 250,000 | 8,937,500.00 | 1.14 |
|  |  |  | 24,029,500.00 | 3.05 |

GERMANY
| ADIDAS AG COMMON STOCK | EUR | 60,000 | 15,192,000.00 | 1.93 |
| --- | --- | --- | --- | --- |
| DAIMLER AG REGISTERED SHARES COMMON STOCK NPV | EUR | 180,000 | 12,166,200.00 | 1.55 |
| DEUTSCHE TELEKOM AG REG COMMON STOCK | EUR | 750,000 | 12,225,000.00 | 1.55 |
| INFINEON TECHNOLOGIES AG COMMON STOCK | EUR | 250,000 | 10,190,000.00 | 1.29 |
| MERCK KGAA COMMON STOCK | EUR | 80,000 | 18,160,000.00 | 2.31 |
| MUENCHENER RUECKVER AG REG COMMON STOCK | EUR | 50,000 | 13,025,000.00 | 1.65 |
| SAP SE COMMON STOCK | EUR | 175,000 | 21,857,500.00 | 2.78 |
| SIEMENS AG REG COMMON STOCK NPV | EUR | 170,000 | 25,955,600.00 | 3.30 |
| SYMRISE AG COMMON STOCK | EUR | 100,000 | 13,030,000.00 | 1.65 |
| ZALANDO SE COMMON STOCK | EUR | 100,000 | 7,114,000.00 | 0.90 |
|  |  |  | 148,915,300.00 | 18.91 |

SPAIN
| CORP ACCIONA ENERGIAS RENOVA COMMON STOCK | EUR | 200,000 | 6,516,000.00 | 0.83 |
| --- | --- | --- | --- | --- |
| EDP RENOVAVEIS SA COMMON STOCK EUR5. | EUR | 380,000 | 8,322,000.00 | 1.06 |
| IBERDROLA SA COMMON STOCK EUR.75 | EUR | 2,000,000 | 20,820,000.00 | 2.64 |
| REPSOL SA COMMON STOCK EUR1. | EUR | 700,000 | 7,305,200.00 | 0.93 |
|  |  |  | 42,963,200.00 | 5.46 |

| NESTE OYJ COMMON STOCK | EUR | 250,000 | 10,840,000.00 | 1.38 |
| --- | --- | --- | --- | --- |
| STORA ENSO OYJ R SHS COMMON STOCK EUR1.7 | EUR | 850,000 | 13,719,000.00 | 1.74 |
|  |  |  | 24,559,000.00 | 3.12 |
| RANCE AIR LIQUIDE SA COMMON STOCK EUR5.5	EUR	120,000	18,398,400.00	2.34 |
| ALSTOM COMMON STOCK EUR7.0 | EUR | 200,000 | 6,244,000.00 | 0.79 |
| ARKEMA COMMON STOCK EUR10.0 | EUR | 100,000 | 12,385,000.00 | 1.57 |
| AXA SA COMMON STOCK EUR2.29 | EUR | 500,000 | 13,092,500.00 | 1.66 |
| BNP PARIBAS COMMON STOCK EUR2.0 | EUR | 500,000 | 30,385,000.00 | 3.86 |
| CAPGEMINI SE COMMON STOCK EUR8.0 | EUR | 70,000 | 15,085,000.00 | 1.92 |
| COMPAGNIE DE SAINT GOBAIN COMMON STOCK EUR4.0 | EUR | 300,000 | 18,561,000.00 | 2.36 |
| DASSAULT SYSTEMES COMMON STOCK EUR.1 | EUR | 400,000 | 20,924,000.00 | 2.66 |
| EDENRED COMMON STOCK EUR2.0 | EUR | 250,000 | 10,142,500.00 | 1.29 |
| ESSILORLUXOTTICA COMMON STOCK EUR.18 | EUR | 120,000 | 22,468,800.00 | 2.85 |
| LVMH MOET HENNESSY LOUIS VUI COMMON STOCK EUR.3 | EUR | 45,000 | 32,715,000.00 | 4.17 |
| MICHELIN (CGDE) COMMON STOCK EUR2.0 | EUR | 100,000 | 14,415,000.00 | 1.83 |
| PERNOD RICARD SA COMMON STOCK EUR1.55 | EUR | 100,000 | 21,150,000.00 | 2.69 |
| PUBLICIS GROUPE COMMON STOCK EUR.4 | EUR | 200,000 | 11,840,000.00 | 1.50 |

FINLAND
F
Title	Listing	Quantity or Nominal	Present Value (EUR) % of net Asset
	currency	
| RENAULT SA COMMON STOCK EUR3.81 | EUR | 300,000 | 9,163,500.00 | 1.16 |
| --- | --- | --- | --- | --- |
| SANOFI COMMON STOCK EUR2.0 | EUR | 250,000 | 22,145,000.00 | 2.81 |
| SCHNEIDER ELECTRIC SE COMMON STOCK EUR4.0 | EUR | 120,000 | 20,695,200.00 | 2.63 |
| VEOLIA ENVIRONNEMENT COMMON STOCK EUR5.0 | EUR | 700,000 | 22,582,000.00 | 2.87 |
| VINCI SA COMMON STOCK EUR2.5 | EUR | 150,000 | 13,936,500.00 | 1.77 |
| WORLDLINE SA COMMON STOCK EUR.68 | EUR | 200,000 | 9,802,000.00 | 1.24 |
|  |  |  | 346,130,400.00 | 43.97 |

UNITED KINGDOM
| RELX PLC COMMON STOCK GBP.144397 | EUR | 350,000 | 9,982,000.00 | 1.27 |
| --- | --- | --- | --- | --- |
|  |  |  | 9,982,000.00 | 1.27 |

Italy
| ASSICURAZIONI GENERALI COMMON STOCK | EUR | 800,000 | 14,904,000.00 | 1.89 |
| --- | --- | --- | --- | --- |
| INTESA SANPAOLO COMMON STOCK NPV | EUR | 7,500,000 | 17,055,000.00 | 2.17 |
|  |  |  | 31,959,000.00 | 4.06 |
| NETHERLANDS |  |  |  |  |
| ARCADIS NV COMMON STOCK EUR.02 | EUR | 80,000 | 3,387,200.00 | 0.43 |
| ASML HOLDING NV COMMON STOCK EUR.09 | EUR | 65,000 | 45,935,500.00 | 5.83 |
| ING GROEP NV COMMON STOCK EUR.01 | EUR | 1,500,000 | 18,363,000.00 | 2.33 |
| KONINKLIJKE AHOLD DELHAIZE N COMMON STOCK EUR.01 | EUR | 500,000 | 15,067,500.00 | 1.91 |
| KONINKLIJKE DSM NV COMMON STOCK EUR1.5 | EUR | 80,000 | 15,840,000.00 | 2.01 |
| KONINKLIJKE PHILIPS NV COMMON STOCK EUR.2 | EUR | 350,000 | 11,467,750.00 | 1.46 |
| SIGNIFY NV COMMON STOCK | EUR | 200,000 | 8,156,000.00 | 1.04 |
| STELLANTIS NV COMMON STOCK EUR.01 | EUR | 1,000,000 | 16,678,000.00 | 2.12 |
| STMICROELECTRONICS NV COMMON STOCK EUR1.04 | EUR | 350,000 | 15,179,500.00 | 1.93 |
| UNIVERSAL MUSIC GROUP NV COMMON STOCK EUR10.0 | EUR | 320,000 | 7,929,600.00 | 1.01 |
|  |  |  | 158,004,050.00 | 20.07 |
| UCI securities |  |  |  |  |
| UCITS and equivalents from other EU Member States |  |  |  |  |
| FRANCE |  |  |  |  |
| ALLIANZ SECURICASH SRI | EUR | 11,344.00 | 1,359,871.70 | 0.17 |
|  |  |  | 1,359,871.70 | 0.17 |

Allianz Global Investors GmbH, French office 3, boulevard des Italiens
75002 Paris, France
Telephone: +33 (0)1 73 05 73 05 https://fr.allianzgi.com

Translation (ENFR, 2021-12-31):
# Inventaire au 31.12.2021
Titres	Devise	Quantité au Nominal	Valeur actuelle (EUR)	% Actif Net
Actions & valeurs assimilees
Actions & valeurs assimilees nego. sur un marche regl. ou assimile BELGIQUE
| KBC GROUP NV COMMON STOCK | EUR | 200 000 | 15 092 000,00 | 1,91 |
| --- | --- | --- | --- | --- |
| UMICORE COMMON STOCK | EUR | 250 000 | 8 937 500,00 | 1,14 |
|  |  |  | 24 029 500,00 | 3,05 |

ALLEMAGNE
| ADIDAS AG COMMON STOCK | EUR | 60 000 | 15 192 000,00 | 1,93 |
| --- | --- | --- | --- | --- |
| DAIMLER AG REGISTERED SHARES COMMON STOCK NPV | EUR | 180 000 | 12 166 200,00 | 1,55 |
| DEUTSCHE TELEKOM AG REG COMMON STOCK | EUR | 750 000 | 12 225 000,00 | 1,55 |
| INFINEON TECHNOLOGIES AG COMMON STOCK | EUR | 250 000 | 10 190 000,00 | 1,29 |
| MERCK KGAA COMMON STOCK | EUR | 80 000 | 18 160 000,00 | 2,31 |
| MUENCHENER RUECKVER AG REG COMMON STOCK | EUR | 50 000 | 13 025 000,00 | 1,65 |
| SAP SE COMMON STOCK | EUR | 175 000 | 21 857 500,00 | 2,78 |
| SIEMENS AG REG COMMON STOCK NPV | EUR | 170 000 | 25 955 600,00 | 3,30 |
| SYMRISE AG COMMON STOCK | EUR | 100 000 | 13 030 000,00 | 1,65 |
| ZALANDO SE COMMON STOCK | EUR | 100 000 | 7 114 000,00 | 0,90 |
|  |  |  | 148 915 300,00 | 18,91 |

ESPAGNE
| CORP ACCIONA ENERGIAS RENOVA COMMON STOCK | EUR | 200 000 | 6 516 000,00 | 0,83 |
| --- | --- | --- | --- | --- |
| EDP RENOVAVEIS SA COMMON STOCK EUR5. | EUR | 380 000 | 8 322 000,00 | 1,06 |
| IBERDROLA SA COMMON STOCK EUR.75 | EUR | 2 000 000 | 20 820 000,00 | 2,64 |
| REPSOL SA COMMON STOCK EUR1. | EUR | 700 000 | 7 305 200,00 | 0,93 |
|  |  |  | 42 963 200,00 | 5,46 |

| NESTE OYJ COMMON STOCK | EUR | 250 000 | 10 840 000,00 | 1,38 |
| --- | --- | --- | --- | --- |
| STORA ENSO OYJ R SHS COMMON STOCK EUR1.7 | EUR | 850 000 | 13 719 000,00 | 1,74 |
|  |  |  | 24 559 000,00 | 3,12 |
| RANCE AIR LIQUIDE SA COMMON STOCK EUR5.5	EUR	120 000	18 398 400,00	2,34 |
| ALSTOM COMMON STOCK EUR7.0 | EUR | 200 000 | 6 244 000,00 | 0,79 |
| ARKEMA COMMON STOCK EUR10.0 | EUR | 100 000 | 12 385 000,00 | 1,57 |
| AXA SA COMMON STOCK EUR2.29 | EUR | 500 000 | 13 092 500,00 | 1,66 |
| BNP PARIBAS COMMON STOCK EUR2.0 | EUR | 500 000 | 30 385 000,00 | 3,86 |
| CAPGEMINI SE COMMON STOCK EUR8.0 | EUR | 70 000 | 15 085 000,00 | 1,92 |
| COMPAGNIE DE SAINT GOBAIN COMMON STOCK EUR4.0 | EUR | 300 000 | 18 561 000,00 | 2,36 |
| DASSAULT SYSTEMES COMMON STOCK EUR.1 | EUR | 400 000 | 20 924 000,00 | 2,66 |
| EDENRED COMMON STOCK EUR2.0 | EUR | 250 000 | 10 142 500,00 | 1,29 |
| ESSILORLUXOTTICA COMMON STOCK EUR.18 | EUR | 120 000 | 22 468 800,00 | 2,85 |
| LVMH MOET HENNESSY LOUIS VUI COMMON STOCK EUR.3 | EUR | 45 000 | 32 715 000,00 | 4,17 |
| MICHELIN (CGDE) COMMON STOCK EUR2.0 | EUR | 100 000 | 14 415 000,00 | 1,83 |
| PERNOD RICARD SA COMMON STOCK EUR1.55 | EUR | 100 000 | 21 150 000,00 | 2,69 |
| PUBLICIS GROUPE COMMON STOCK EUR.4 | EUR | 200 000 | 11 840 000,00 | 1,50 |

FINLANDE
F
| Titres | Devise | Quantité au Nominal | Valeur actuelle (EUR) | % Actif Net |
| --- | --- | --- | --- | --- |
| RENAULT SA COMMON STOCK EUR3.81 | EUR | 300 000 | 9 163 500,00 | 1,16 |
| SANOFI COMMON STOCK EUR2.0 | EUR | 250 000 | 22 145 000,00 | 2,81 |
| SCHNEIDER ELECTRIC SE COMMON STOCK EUR4.0 | EUR | 120 000 | 20 695 200,00 | 2,63 |
| VEOLIA ENVIRONNEMENT COMMON STOCK EUR5.0 | EUR | 700 000 | 22 582 000,00 | 2,87 |
| VINCI SA COMMON STOCK EUR2.5 | EUR | 150 000 | 13 936 500,00 | 1,77 |
| WORLDLINE SA COMMON STOCK EUR.68 | EUR | 200 000 | 9 802 000,00 | 1,24 |
|  |  |  | 346 130 400,00 | 43,97 |
| ROYAUME UNI |  |  |  |  |
| RELX PLC COMMON STOCK GBP.144397 | EUR | 350 000 | 9 982 000,00 | 1,27 |
|  |  |  | 9 982 000,00 | 1,27 |
| Italie |  |  |  |  |
| ASSICURAZIONI GENERALI COMMON STOCK | EUR | 800 000 | 14 904 000,00 | 1,89 |
| INTESA SANPAOLO COMMON STOCK NPV | EUR | 7 500 000 | 17 055 000,00 | 2,17 |
|  |  |  | 31 959 000,00 | 4,06 |
| PAYS-BAS |  |  |  |  |
| ARCADIS NV COMMON STOCK EUR.02 | EUR | 80 000 | 3 387 200,00 | 0,43 |
| ASML HOLDING NV COMMON STOCK EUR.09 | EUR | 65 000 | 45 935 500,00 | 5,83 |
| ING GROEP NV COMMON STOCK EUR.01 | EUR | 1 500 000 | 18 363 000,00 | 2,33 |
| KONINKLIJKE AHOLD DELHAIZE N COMMON STOCK EUR.01 | EUR | 500 000 | 15 067 500,00 | 1,91 |
| KONINKLIJKE DSM NV COMMON STOCK EUR1.5 | EUR | 80 000 | 15 840 000,00 | 2,01 |
| KONINKLIJKE PHILIPS NV COMMON STOCK EUR.2 | EUR | 350 000 | 11 467 750,00 | 1,46 |
| SIGNIFY NV COMMON STOCK | EUR | 200 000 | 8 156 000,00 | 1,04 |
| STELLANTIS NV COMMON STOCK EUR.01 | EUR | 1 000 000 | 16 678 000,00 | 2,12 |
| STMICROELECTRONICS NV COMMON STOCK EUR1.04 | EUR | 350 000 | 15 179 500,00 | 1,93 |
| UNIVERSAL MUSIC GROUP NV COMMON STOCK EUR10.0 | EUR | 320 000 | 7 929 600,00 | 1,01 |
|  |  |  | 158 004 050,00 | 20,07 |
| Titres d’OPC |  |  |  |  |
| OPCVM et equivalents d’autres Etats membres de l’UE |  |  |  |  |
| FRANCE |  |  |  |  |
| ALLIANZ SECURICASH SRI | EUR | 11 344,00 | 1 359 871,70 | 0,17 |
|  |  |  | 1 359 871,70 | 0,17 |

Allianz Global Investors GmbH, Succursale française 3, Boulevard des Italiens
75002 Paris, France
Téléphone: +33 (0) 1 73 05 73 05 https://fr.allianzgi.com