# Portfolio Exposure & Attribution
As at 30 September 2022
|  | Performance Attribution - 1 Month (%) |  |
| --- | --- | --- |
| Top 10 Positions (%) |  |  |  |  |  |  |
| Alphabet | 5.7 | Top Contributors |  | Top Detractors |  |  |
| Microsoft | 5.6 | Active	Attrib. |  |  | Active | Attrib. |
| Visa | 4.4 | Weight	Effect |  |  | Weight | Effect |
| Constellation Software Inc/Can | 3.4 | Cash and Others	6.90	0.61 |  | Cenovus Energy | 2.19 | ‑0.20 |
| T‑Mobile US | 3.4 | LPL Financial Holdings	2.71	0.21 |  | Sabre Corp | 0.75 | ‑0.16 |

| United Rentals | 3.3 |
| --- | --- |
| Amazon | 3.2 |
| US Foods Holding Corp | 3.0 |
| Elevance Health | 2.9 |
| AMETEK | 2.8 |
| Total | 37.6 |


### Netflix	1.43	0.20

### Apple	‑6.87	0.19

### Arch Capital	2.13	0.17

### US Foods Holding Corp		3.13 ‑0.14 SS&C Technologies Holdings 2.47 ‑0.12 Johnson & Johnson	‑1.20   ‑0.12

### Performance attribution is calculated in USD on a relative basis over the month.
Sector Exposure - Top Overweights & Underweights Relative to Index (%)

### Fund	Relative

### Software & Services	18.5	5.4
| Media & Entertainment | 10.9 | 4.2 |
| --- | --- | --- |
| Diversified Financials | 8.8 | 3.9 |
| Transportation | 4.7 | 2.8 |
| Telecommunication Services | 3.4 | 2.2 |
| Insurance | 4.4 | 1.5 |

| Large Cap (US$10 bn ‑ 50 bn) | 31.7 | 26.9 | Food & Staples Retailing | 3.0 | 1.3 |
| --- | --- | --- | --- | --- | --- |
| Mid Cap (US$5 bn ‑ 10 bn) | 8.5 | 2.2 | Capital Goods | 6.0 | 0.8 |
| Small Cap (<US$5 bn) | 6.8 | 0.2 | Energy | 6.3 | 0.6 |
| Cash | 9.8 | - | Semiconductors & Semiconductor | Equip.5.0 | 0.5 |


### Materials	1.3	‑1.3

### Household & Personal Products	0.0	‑1.4

### Retailing	4.4	‑1.9

### Automobiles & Components	0.0	‑2.5

### Real Estate	0.0	‑2.8

### Utilities	0.0	‑3.1

### Banks	1.3	‑3.4

### Food, Beverage & Tobacco	0.0	‑3.4

### Technology Hardware & Equipment	2.2	‑6.1

### Pharma, Biotech & Life Sciences	1.5	‑6.2
-10	-5	0	5	10
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
Logiciels et Services	18,5	5,4
Médias et divertissement	10,9	4,2
Sociétés fin. divers.	8,8	3,9
Transports	4,7	2,8
Services de télécomm.	3,4	2,2
Assurances	4,4	1,5
Consomm. de base - détail	3,0	1,3
Biens d’Équipement	6,0	0,8
Énergie	6,3	0,6
Semi-conducteurs	5,0	0,5
Matériaux	1,3	-1,3
Produits ménagers/de soin	0,0	-1,4
Vente au détail	4,4	-1,9
Automobiles & composants	0,0	-2,5
Immobilier	0,0	-2,8
Services aux collectivités	0,0	-3,1
Banques	1,3	-3,4
Aliments/boissons/tabac	0,0	-3,4
Matériel informatique	2,2	-6,1
Pharma, biotech. & biol.	1,5	-6,2
-10	-5	0
5	10