# Portfolio Exposure & Attribution
As at 30 September 2022
Performance Attribution - 1 Month (%)
| Microsoft | 8.6 |
| --- | --- |
| Apple | 6.5 |
| Alphabet | 5.8 |
| Advanced Micro Devices | 3.6 |
| KLA Tencor | 2.2 |
| Arista Networks | 2.1 |
| E Ink Holdings | 2.1 |
| Lattice Semiconductor | 2.0 |
| Pure Storage | 2.0 |
| Palo Alto Networks | 2.0 |

Top Contributors
Cash and others	0.94
NDX INDEX	0.33
CyberArk Software	0.24
Tesla	0.14
Pure Storage Inc	0.12
Top Detractors
Advanced Micro Devices	‑0.34
MongoDB	‑0.17
Five9	‑0.16
Apple	‑0.14
Okta	‑0.13
Performance attribution is calculated in USD on a relative basis over the month.
Sector Exposure - Top Overweights & Underweights Relative to Index (%)
Fund	Relative
Semiconductor Equipment	8.2	3.6
Semiconductors	19.3	3.5
Internet & Direct Marketing Retail	4.3	2.2
Data Processing & Outsourced Serv.	2.5	2.1
Automobile Manufacturers	2.0	2.0
| Market Capitalisation Exposure (%) |  | Electronic Components | 2.1 | 2.0 |
| --- | --- | --- | --- | --- |
| Mega Cap (>US$50 bn)	51.9 |  | Hotels, Resorts & Cruise Lines | 1.8 | 1.8 |
| Large Cap (US$10 bn ‑ 50 bn)	28.3 |  | Interactive Home Entertainment | 2.1 | 1.6 |
| Mid Cap (US$1 bn ‑ 10 bn)	19.8 |  | Healthcare Supplies | 0.9 | 0.9 |
| Small Cap (<US$1 bn)	0.0 |  | Industrial Machinery | 0.5 | 0.5 |
|  |  | Index Option | 0.4 | 0.4 |
| Options (%)^ |  | Electrical Components & Equipment | 0.0 | 0.0 |
| Premium	Delta Adj. Exp. |  | Real Estate Operating Companies | 0.0 | 0.0 |
| Index Put	0.45	‑3.14 |  | Systems Software | 18.4 | ‑0.3 |

Industrial Conglomerates	0.0	‑0.3
Technology Distributors	0.0	‑0.3
Communications Equipment	2.1	‑0.7
Application Software	9.3	‑0.7
IT Consulting & Other Services	0.9	‑3.5
Interactive Media & Services	10.5		‑4.9 Tech. Hardware, Storage & Periph.		9.6	‑12.5 Cash		3.8			3.8

## Geographic Exposure (%)
US & Canada	74.3
Asia Pac (ex-Japan)	10.7
Middle East & Africa	3.3
Europe	3.0
Japan	2.9
Latin America	2.0
Cash	3.8
-20
0
-10	0
25	50
10
75	100
The column headed “Fund” refers to the percentage of the Fund’s assets invested in each sector. The column headed “Relative” refers to the extent to which the Fund is overweight or underweight in each sector compared (relative) to the index.
Note: Totals may not sum due to rounding. It should not be assumed that recommendations made in future will be profitable or will equal performance of the securities in this document. A list of all recommendations made within the immediately preceding 12 months is available upon request.

Translation (ENFR, 2022-09-30):
# Exposition du portefeuille
Données au 30 septembre 2022
Exposition sectorielle - Principales surpondérations et sous-pondérations par rapport à l’indice (%)

### Fonds	Écart
Équip. semi-conducteurs	8,2	3,6
Semi-conducteurs	19,3	3,5
Vente directe & en ligne	4,3	2,2
Données & serv. extern.	2,5	2,1
Constructeurs automobiles	2,0	2,0
| Lattice Semiconductor | 2,0 |
| --- | --- |
| Pure Storage | 2,0 |
| Palo Alto Networks | 2,0 |
| Total | 37,1 |
| Nombre total de positions | 66 |
| Part active | 61,66% |
| Exposition par capitalisation boursière (%) |  |
| Très grande (> US$ 50 Mds) | 51,9 |
| Grande (US$ 10 Mds à 50 Mds) | 28,3 |
| Moyenne (US$ 1 Md à 10 Mds) | 19,8 |

Composants électroniques	2,1	2,0
Hôtels/resorts/croisières	1,8	1,8
Divertissements interactifs à domicile	2,1	1,6
Fournitures médicales	0,9	0,9
Machines industrielles	0,5	0,5
Index Option	0,4	0,4
Équipement électrique	0,0	0,0
Sociétés d’expl. immo	0,0	0,0
Logiciels système	18,4	-0,3
Conglomérats Industriels	0,0	-0,3
Distributeurs de techn.	0,0	-0,3
Équipement de comm.	2,1	-0,7
Logiciels d’application	9,3	-0,7
Conseils/services inform.	0,9	-3,5
Médias et services interactifs	10,5	-4,9
Matériel inform./stockage	9,6	-12,5
Liquidités	3,8	3,8

## Exposition géographique (%)
États-Unis et Canada	74,3
Asie-Pacifique (hors Japon)	10,7
Moyen-Orient et Afrique	3,3
Europe	3,0
Japon	2,9
Amérique latine	2,0
Liquidités	3,8
-20
0
-10	0
25	50
10
75	100