# Analyse du portefeuille
31.47%
26.53%

## Exposition sectorielle
35%
30%
25%
20%
15%
10%
5%
0%
Technologie	Conso. cycl.
14.29%
12.92%
13.51%
13.79%
11.65%
14.62%
7.50%
9.60%
5.67%
6.70%
Finance	Santé	Industrie	Conso.
Base
3.69%
5.86%
3.51%
0.00%
3.17%
2.49%
2.24%
2.73%
1.93%
2.83%
Energie	Fonds	Matériaux	Immobilier	Serv. aux
collect.
1.39%
1.94%
Télécom.
Portefeuille	Indice de référence*
| Les principales valeurs |  |
| --- | --- |
| Action |  | Pondération | Secteur | Pays émetteur |
|  | Portefeuille | Indice de référence* |  |  |
| Amazon.com Inc | 4.32% | 3.30% | Conso. cycl. | Etats-Unis |
| Apple Inc | 3.66% | 4.55% | Technologie | Etats-Unis |
| Microsoft Corp | 2.68% | 3.51% | Technologie | Etats-Unis |
| Johnson & Johnson | 2.51% | 1.47% | Santé | Etats-Unis |
| JPMorgan Chase & Co | 2.49% | 1.59% | Finance | Etats-Unis |
| Alphabet Inc | 2.22% | 3.00% | Technologie | Etats-Unis |
| NVIDIA Corp | 1.93% | 0.69% | Technologie | Etats-Unis |
| Merck & Co Inc | 1.85% | 0.75% | Santé | Etats-Unis |
| Medtronic PLC | 1.77% | 0.53% | Santé | Etats-Unis |
| Adobe Systems Inc | 1.71% | 0.53% | Technologie | Etats-Unis |
| Nombre de lignes | 125 |  |  |  |
| % Liquidités | 0.30% |  |  |  |


## 5 principales surpondérations	5 principales sous-pondérations
| Surpondérations	Portefeuille Indice de référence* |  | Sous-pondérations	Portefeuille Indice de référence* |
| --- | --- | --- |
| Medtronic PLC | 1.77% | 0.53% |  | Apple Inc | 3.66% | 4.55% |
| American Express Co | 1.55% | 0.31% |  | Microsoft Corp | 2.68% | 3.51% |
| Automatic Data Processing Inc | 1.54% | 0.26% |  | Berkshire Hathaway Inc | 0.82% | 1.63% |
| ABIOMED Inc | 1.37% | 0.07% |  | UnitedHealth Group Inc | 0.21% | 1.05% |
| Square Inc | 1.24% | 0.00% |  | Wells Fargo & Co | 0.00% | 1.04% |

* Indice de référence : se référer à la rubrique Indicateur de référence spécifiée en dernière rubrique
Source(s) : AXA Investment Managers - GICS au 31/08/2018

Translation (FRES, 2018-08-31):
# Análisis de la cartera
## Exposición sectorial
31.47%
26.53%
14.29%
12.92%
13.51%
13.79%
11.65%
14.62%
9.60%
40%
7.50%
5.67%
6.70%
3.69%
5.86%
3.51%
0.00%
3.17%
2.49%
2.24%
2.73%
1.93%
2.83%
1.39%
1.94%
20%
Info. Tecno.
Cons. Disc.
Finanzas
Aten. Sanit.
Industria
Cons. Básico
Energía
Fondos
Materiales
Inmobiliario
Servicios Públicos
Telecomunicaciones
0%
Cartera	Índice de referencia*

## Valores principales
| Compañía	Ponderación	Sector	País emisor |
| --- |
|  | Cartera | Índice de referencia* |  |  |
| Amazon.com Inc | 4.32% | 3.30% | Cons. Disc. | Estados Unidos |
| Apple Inc | 3.66% | 4.55% | Info. Tecno. | Estados Unidos |
| Microsoft Corp | 2.68% | 3.51% | Info. Tecno. | Estados Unidos |
| Johnson & Johnson | 2.51% | 1.47% | Aten. Sanit. | Estados Unidos |
| JPMorgan Chase & Co | 2.49% | 1.59% | Finanzas | Estados Unidos |
| Alphabet Inc | 2.22% | 3.00% | Info. Tecno. | Estados Unidos |
| NVIDIA Corp | 1.93% | 0.69% | Info. Tecno. | Estados Unidos |
| Merck & Co Inc | 1.85% | 0.75% | Aten. Sanit. | Estados Unidos |
| Medtronic PLC | 1.77% | 0.53% | Aten. Sanit. | Estados Unidos |
| Adobe Systems Inc | 1.71% | 0.53% | Info. Tecno. | Estados Unidos |
| Número de líneas | 125 |  |  |  |
| % Liquidez | 0.30% |  |  |  |

Top 5 sobreponderaciones	Top 5 infraponderaciones
| Sobreponderaciones	Cartera Índice de referencia* |  | Infraponderaciones	Cartera Índice de referencia* |
| --- | --- | --- |
| Medtronic PLC | 1.77% | 0.53% |  | Apple Inc | 3.66% | 4.55% |
| American Express Co | 1.55% | 0.31% |  | Microsoft Corp | 2.68% | 3.51% |
| Automatic Data Processing Inc | 1.54% | 0.26% |  | Berkshire Hathaway Inc | 0.82% | 1.63% |
| ABIOMED Inc | 1.37% | 0.07% |  | UnitedHealth Group Inc | 0.21% | 1.05% |
| Square Inc | 1.24% | 0.00% |  | Wells Fargo & Co | 0.00% | 1.04% |

* Índice de referencia : Consulte por favor la sección del Índice de referencia, en la parte del documento de características/aviso legal
Fuente(s) : AXA Investment Managers - GICS a 31/08/2018