# UBS (Lux) Strategy SICAV
– Systematic Allocation Portfolio Defensive (USD)
| Three-year comparison |  |
| --- | --- |
|  | ISIN | 31.5.2020 | 31.5.2019 | 31.5.2018 |
| Net assets in USD |  | 1 089 453 896.73 | 1 087 131 873.23 | 922 334 114.59 |
| Class K-1-acc | LU1622990858 |  |  |  |
| Shares outstanding |  | 5.5000 | 4.5000 | 2.0000 |
| Net asset value per share in USD |  | 5 336 764.81 | 5 272 284.33 | 5 085 305.72 |
| Issue and redemption price per share in USD 1 |  | 5 296 739.07 | 5 282 828.90 | 5 085 305.72 |
| Class (CHF hedged) K-1-acc 2 | LU1622991070 |  |  |  |
| Shares outstanding |  | 0.9000 | - | - |
| Net asset value per share in CHF |  | 4 846 836.21 | - | - |
| Issue and redemption price per share in CHF 1 |  | 4 810 484.94 | - | - |
| Class (EUR hedged) K-1-acc | LU1622990932 |  |  |  |
| Shares outstanding |  | 0.7000 | 0.8000 | 0.8000 |
| Net asset value per share in EUR |  | 2 990 826.89 | 3 028 310.04 | 3 007 798.84 |
| Issue and redemption price per share in EUR 1 |  | 2 968 395.69 | 3 034 366.66 | 3 007 798.84 |
| Class (EUR hedged) K-X-acc | LU1675059452 |  |  |  |
| Shares outstanding |  | 97 177.2680 | 97 177.2680 | 97 177.2680 |
| Net asset value per share in EUR |  | 100.82 | 101.16 | 99.58 |
| Issue and redemption price per share in EUR 1 |  | 100.06 | 101.36 | 99.58 |
| Class P-4%-mdist | LU1599185995 |  |  |  |
| Shares outstanding |  | 1 160 320.1380 | 1 487 647.4150 | 1 343 570.0780 |
| Net asset value per share in USD |  | 95.04 | 98.09 | 98.84 |
| Issue and redemption price per share in USD 1 |  | 94.33 | 98.29 | 98.84 |
| Class (HKD) P-4%-mdist | LU1647379343 |  |  |  |
| Shares outstanding |  | 321 698.0890 | 396 435.4180 | 314 488.2810 |
| Net asset value per share in HKD |  | 938.76 | 980.48 | 988.89 |
| Issue and redemption price per share in HKD 1 |  | 931.72 | 982.44 | 988.89 |
| Class P-acc | LU1599185649 |  |  |  |
| Shares outstanding |  | 3 251 483.0880 | 3 109 847.0700 | 2 735 914.9920 |
| Net asset value per share in USD |  | 106.66 | 105.81 | 102.49 |
| Issue and redemption price per share in USD 1 |  | 105.86 | 106.02 | 102.49 |
| Class (CHF hedged) P-acc | LU1599186027 |  |  |  |
| Shares outstanding |  | 1 248 563.1140 | 1 234 744.5730 | 838 924.0190 |
| Net asset value per share in CHF |  | 97.69 | 99.79 | 99.92 |
| Issue and redemption price per share in CHF 1 |  | 96.96 | 99.99 | 99.92 |
| Class (EUR hedged) P-acc | LU1599186530 |  |  |  |
| Shares outstanding |  | 1 500 071.3610 | 1 500 380.0560 | 1 291 511.1050 |
| Net asset value per share in EUR |  | 98.91 | 100.58 | 100.32 |
| Issue and redemption price per share in EUR 1 |  | 98.17 | 100.78 | 100.32 |
| Class (GBP hedged) P-acc | LU1616912249 |  |  |  |
| Shares outstanding |  | 150 416.4500 | 86 928.3810 | 75 508.3240 |
| Net asset value per share in GBP |  | 101.71 | 102.43 | 100.99 |
| Issue and redemption price per share in GBP 1 |  | 100.95 | 102.63 | 100.99 |
| Class (SGD hedged) P-acc | LU1599186704 |  |  |  |
| Shares outstanding |  | 123 715.4990 | 233 599.3200 | 179 284.1640 |
| Net asset value per share in SGD |  | 104.79 | 104.49 | 101.90 |
| Issue and redemption price per share in SGD 1 |  | 104.00 | 104.70 | 101.90 |
| Class (SGD hedged) P-mdist | LU1637863462 |  |  |  |
| Shares outstanding |  | 115 912.0640 | 144 058.7600 | 153 896.8190 |
| Net asset value per share in SGD |  | 97.41 | 99.46 | 99.75 |
| Issue and redemption price per share in SGD 1 |  | 96.68 | 99.66 | 99.75 |
| Class Q-4%-mdist 3 | LU1891428200 |  |  |  |
| Shares outstanding |  | 126 701.3320 | 58 760.4920 | - |
| Net asset value per share in USD |  | 100.18 | 102.72 | - |
| Issue and redemption price per share in USD 1 |  | 99.43 | 102.93 | - |
| Class Q-acc | LU1599185722 |  |  |  |
| Shares outstanding |  | 639 067.7000 | 532 963.4070 | 330 736.7880 |
| Net asset value per share in USD |  | 108.72 | 107.17 | 103.14 |
| Issue and redemption price per share in USD 1 |  | 107.90 | 107.38 | 103.14 |
| Class (CHF hedged) Q-acc | LU1599186373 |  |  |  |
| Shares outstanding |  | 327 612.5350 | 357 201.8680 | 302 962.0460 |
| Net asset value per share in CHF |  | 99.58 | 101.08 | 100.56 |
| Issue and redemption price per share in CHF 1 |  | 98.83 | 101.28 | 100.56 |

UBS (Lux) Strategy SICAV – Systematic Allocation Portfolio Defensive (USD) Annual report and audited financial statements as of 31 May 2020
|  | ISIN | 31.5.2020 | 31.5.2019 | 31.5.2018 |
| --- | --- | --- | --- | --- |
|  |  |  |  |  |
| Class (EUR hedged) Q-acc | LU1599186613 |  |  |  |
| Shares outstanding |  | 820 601.8210 | 814 208.9740 | 841 185.0910 |
| Net asset value per share in EUR |  | 100.83 | 101.88 | 100.97 |
| Issue and redemption price per share in EUR 1 |  | 100.07 | 102.08 | 100.97 |
| Class (GBP hedged) Q-acc | LU1616912322 |  |  |  |
| Shares outstanding |  | 32 626.0070 | 21 692.1930 | 23 337.7420 |
| Net asset value per share in GBP |  | 103.16 | 103.23 | 101.13 |
| Issue and redemption price per share in GBP 1 |  | 102.39 | 103.44 | 101.13 |
| Class (SEK hedged) Q-acc 4 | LU1599186886 |  |  |  |
| Shares outstanding |  | - | 11 805.6020 | 77 310.0900 |
| Net asset value per share in SEK |  | - | 697.68 | 690.19 |
| Issue and redemption price per share in SEK 1 |  | - | 699.08 | 690.19 |
| Class (SGD hedged) Q-mdist 5 | LU2038507948 |  |  |  |

| 85 603.8240 | - | - |
| --- | --- | --- |
| 97.41 | - | - |
| D 1	 96.68	-	- |

Shares outstanding
Net asset value per share in SGD
| 1  See note 1 |  |
| --- | --- |
| 2  First NAV: 4.11.2019 |
| 3  First NAV: 5.11.2018 |
| 4  For the period from 21.12.2017 to 23.4.2020 the share class (SEK hedged) Q-acc was in circulation |
| 5  First NAV: 19.8.2019 |
| Performance |
|  | Currency | 2019/2020 | 2018/2019 | 2017/2018 |
| Class K-1-acc | USD | 0.3% | 3.9% | - |
| Class (CHF hedged) K-1-acc 1 | CHF | - | - | - |
| Class (EUR hedged) K-1-acc | EUR | -2.2% | 0.9% | - |
| Class (EUR hedged) K-X-acc | EUR | -1.3% | 1.8% | - |
| Class P-4%-mdist | USD | -0.2% | 3.5% | 2.5% |
| Class (HKD) P-4%-mdist | HKD | -1.3% | 3.4% | - |
| Class P-acc | USD | -0.2% | 3.4% | 2.5% |
| Class (CHF hedged) P-acc | CHF | -3.0% | 0.1% | -0.1% |
| Class (EUR hedged) P-acc | EUR | -2.6% | 0.5% | 0.3% |
| Class (GBP hedged) P-acc | GBP | -1.6% | 1.6% | - |
| Class (SGD hedged) P-acc | SGD | -0.7% | 2.7% | 1.9% |
| Class (SGD hedged) P-mdist | SGD | -0.7% | 2.7% | - |
| Class Q-4%-mdist | USD | 0.5% | - | - |
| Class Q-acc | USD | 0.5% | 4.1% | 3.1% |
| Class (CHF hedged) Q-acc | CHF | -2.4% | 0.7% | 0.6% |
| Class (EUR hedged) Q-acc | EUR | -2.0% | 1.1% | 1.0% |
| Class (GBP hedged) Q-acc | GBP | -1.0% | 2.3% | - |
| Class (SEK hedged) Q-acc 2 | SEK | - | 1.3% | - |
| Class (SGD hedged) Q-mdist 1 1  Due to the recent launch, there is no data for the calculation of the performance available. | SGD | - | - | - |

Issue and redemption price per share in SG
2 
For the period from 21.12.2017 to 23.4.2020 the share class (SEK hedged) Q-acc was in circulation. Due to this fact, there is no data for the calculation of the performance available in 2020. Historical performance is no indicator of current or future performance.
The performance data does not take account of any commissions and costs charged when subscribing and redeeming shares. The performance data were not audited.
The subfund has no benchmark.
UBS (Lux) Strategy SICAV – Systematic Allocation Portfolio Defensive (USD) Annual report and audited financial statements as of 31 May 2020

## Report of the Portfolio Manager
The financial year from 1 June 2019 to 31 May 2020 was initially driven by the ample supply of central bank liquidity and the market’s expectation of continuously low rates. In this environment both traditional risk-off and risk-on assets posted positive returns.
The strategy reduced risks in two steps in March about two weeks ahead of the low point in the equity markets. Over the financial year, the subfund generated a nega- tive return for almost all share classes despite a recovery from April 2020.
Since year-end we have seen the development of the coronavirus Covid-19 outbreak initially in China and now reaching most continents. At present it is not possible to assess the detailed impact of the emerging risk on the companies in our portfolio but there is growing concern about the impact on the world economy. There has been a significant correction in the financial markets in the last few weeks. The Board and the Manager continue to watch the efforts of governments to contain the spread of the virus and monitor the economic impact, if any, on the companies in our portfolio.

## Structure of the Securities Portfolio
Geographical Breakdown as a % of net assets	
Luxembourg	43.98
| United States | 17.05 |
| --- | --- |
| Ireland | 12.45 |
| Canada | 4.31 |
| Switzerland | 3.11 |
| Germany | 2.34 |
| France | 2.19 |
| South Korea | 1.57 |
| The Netherlands | 1.27 |
| Australia | 0.91 |
| Philippines | 0.83 |
| Qatar | 0.74 |
| Norway | 0.49 |
| Kuwait | 0.45 |
| United Arab Emirates | 0.44 |
| Japan | 0.42 |
| Spain | 0.40 |
| United Kingdom | 0.38 |
| Supranationals | 0.34 |
| Italy | 0.33 |
| Finland | 0.29 |
| Singapore | 0.25 |
| Jersey | 0.17 |
| Saudi Arabia | 0.16 |
| Belgium | 0.15 |
| Sweden | 0.12 |
| Cayman Islands | 0.11 |
| Austria | 0.07 |
| New Zealand | 0.06 |
| Denmark | 0.04 |
| Portugal | 0.03 |
| British Virgin Islands | 0.03 |
| Total | 95.48 |

UBS (Lux) Strategy SICAV – Systematic Allocation Portfolio Defensive (USD) Annual report and audited financial statements as of 31 May 2020
Economic Breakdown as a % of net assets	
| Investment funds | 50.94 |
| --- | --- |
| Finance & holding companies | 8.51 |
| Countries & central governments | 7.59 |
| Banks & credit institutions | 5.40 |
| Supranational organisations | 3.78 |
| Internet, software & IT services | 2.25 |
| Petroleum | 2.07 |
| Pharmaceuticals, cosmetics & medical products | 2.06 |
| Cantons, federal states | 1.87 |
| Computer hardware & network equipment providers | 1.54 |
| Food & soft drinks | 0.94 |
| Retail trade, department stores | 0.93 |
| Miscellaneous services | 0.87 |
| Energy & water supply | 0.81 |
| Chemicals | 0.61 |
| Insurance | 0.58 |
| Traffic & transportation | 0.42 |
| Tobacco & alcohol | 0.41 |
| Telecommunications | 0.37 |
| Public, non-profit institutions | 0.36 |
| Electronics & semiconductors | 0.35 |
| Miscellaneous consumer goods | 0.31 |
| Textiles, garments & leather goods | 0.28 |
| Building industry & materials | 0.26 |
| Biotechnology | 0.24 |
| Electrical devices & components | 0.23 |
| Vehicles | 0.22 |
| Real Estate | 0.20 |
| Mortgage & funding institutions | 0.16 |
| Precious metals & stones | 0.13 |
| Mechanical engineering & industrial equipment | 0.12 |
| Various capital goods | 0.11 |
| Mining, coal & steel | 0.11 |
| Aerospace industry | 0.09 |
| Watches & jewellery | 0.09 |
| Graphic design, publishing & media | 0.06 |
| Forestry, paper & pulp products | 0.04 |
| Rubber & tyres | 0.04 |
| Agriculture & fishery | 0.03 |
| Lodging, catering & leisure | 0.03 |
| Miscellaneous unclassified companies | 0.03 |
| Non-ferrous metals | 0.03 |
| Healthcare & social services | 0.01 |
| Total | 95.48 |


## Statement of Net Assets
Assets	31.5.2020
USD
Investments in securities, cost	998 363 837.40
| Investments in securities, unrealized appreciation (depreciation) | 	41 803 583.01	 |
| --- | --- |
| Total investments in securities (Note 1) | 1 040 167 420.41 |
| Cash at banks, deposits on demand and deposit accounts | 22 410 093.53 |
| Other liquid assets (Margins) | 52 173 226.83 |
| Receivable on securities sales (Note 1) | 1 061 958.88 |
| Receivable on subscriptions | 751 148.89 |
| Interest receivable on securities | 1 771 642.38 |
| Receivable on dividends | 91 679.27 |
| Other receivables | 138 980.19 |
| Unrealized gain (loss) on financial futures (Note 1) | -31 940 823.37 |
| Unrealized gain (loss) on forward foreign exchange contracts (Note 1) | 6 672 087.18 |
| Total Assets | 1 093 297 414.19 |
|  |  |
| Liabilities |  |
| Bank overdraft | -4 650.56 |
| Payable on securities purchases (Note 1) | -1 774 284.39 |
| Payable on redemptions | -1 396 777.43 |
| Provisions for flat fee (Note 2) | -492 902.34 |
| Provisions for taxe d’abonnement (Note 3) | -49 379.38 |
| Provisions for other commissions and fees (Note 2) | 	-125 523.36	 |
| Total provisions | -667 805.08 |
| Total Liabilities | -3 843 517.46 |
|  |  |
| Net assets at the end of the financial year | 1 089 453 896.73 |
| Statement of Operations | USD |
| Income | 1.6.2019-31.5.2020 |
| Interest on liquid assets | 286 417.07 |
| Interest on securities | 8 700 461.25 |
| Dividends | 2 473 159.77 |
| Income on securities lending (Note 15) | 252 711.98 |
| Other income (Note 4) | 616 425.19 |
| Total income | 12 329 175.26 |
|  |  |
| Expenses |  |
| Cost on securities lending (Note 15) | -101 084.79 |
| Flat fee (Note 2) | -13 673 845.17 |
| Taxe d’abonnement (Note 3) | -333 771.87 |
| Other commissions and fees (Note 2) | -238 548.38 |
| Interest on cash and bank overdraft | -53 908.56 |
| Total expenses | -14 401 158.77 |
|  |  |
| Net income (loss) on investments | -2 071 983.51 |
|  |  |
| Realized gain (loss) (Note 1) |  |
| Realized gain (loss) on market-priced securities without options | 29 064 843.20 |
| Realized gain (loss) on yield-evaluated securities and money market instruments | 46 768.12 |
| Realized gain (loss) on financial futures | -8 180 127.98 |
| Realized gain (loss) on forward foreign exchange contracts | -22 076 993.92 |
| Realized gain (loss) on foreign exchange | 14 817 177.17 |
| Total realized gain (loss) | 13 671 666.59 |
|  |  |
| Net realized gain (loss) of the financial year | 11 599 683.08 |
|  |  |
| Changes in unrealized appreciation (depreciation) (Note 1) |  |
| Unrealized appreciation (depreciation) on market-priced securities without options | 15 312 316.96 |
| Unrealized appreciation (depreciation) on yield-evaluated securities and money market instruments | 31 365.76 |
| Unrealized appreciation (depreciation) on financial futures | -29 845 135.63 |
| Unrealized appreciation (depreciation) on forward foreign exchange contracts | 3 640 926.34 |
| Total changes in unrealized appreciation (depreciation) | -10 860 526.57 |
|  |  |
| Net increase (decrease) in net assets as a result of operations | 739 156.51 |

UBS (Lux) Strategy SICAV – Systematic Allocation Portfolio Defensive (USD) Annual report and audited financial statements as of 31 May 2020
| Statement of Changes in Net Assets |  |
| --- | --- |
|  | USD |
|  | 1.6.2019-31.5.2020 |
| Net assets at the beginning of the financial year | 1 087 131 873.23 |
| Subscriptions | 415 240 337.00 |
| Redemptions | 	-405 224 596.43	 |
| Total net subscriptions (redemptions) | 10 015 740.57 |
| Dividend paid | -8 432 873.58 |
| Net income (loss) on investments | -2 071 983.51 |
| Total realized gain (loss) | 13 671 666.59 |
| Total changes in unrealized appreciation (depreciation) | 	-10 860 526.57	 |
| Net increase (decrease) in net assets as a result of operations | 739 156.51 |
| Net assets at the end of the financial year | 1 089 453 896.73 |
| Changes in the Number of Shares outstanding |  |
|  | 1.6.2019-31.5.2020 |
| Class | K-1-acc |
| Number of shares outstanding at the beginning of the financial year | 4.5000 |
| Number of shares issued | 2.0000 |
| Number of shares redeemed | -1.0000 |
| Number of shares outstanding at the end of the financial year | 5.5000 |
| Class | (CHF hedged) K-1-acc |
| Number of shares outstanding at the beginning of the financial year | 0.0000 |
| Number of shares issued | 0.9000 |
| Number of shares redeemed | 0.0000 |
| Number of shares outstanding at the end of the financial year | 0.9000 |
| Class | (EUR hedged) K-1-acc |
| Number of shares outstanding at the beginning of the financial year | 0.8000 |
| Number of shares issued | 0.4000 |
| Number of shares redeemed | -0.5000 |
| Number of shares outstanding at the end of the financial year | 0.7000 |
| Class | (EUR hedged) K-X-acc |
| Number of shares outstanding at the beginning of the financial year | 97 177.2680 |
| Number of shares issued | 0.0000 |
| Number of shares redeemed | 0.0000 |
| Number of shares outstanding at the end of the financial year | 97 177.2680 |
| Class | P-4%-mdist |
| Number of shares outstanding at the beginning of the financial year | 1 487 647.4150 |
| Number of shares issued | 688 670.7930 |
| Number of shares redeemed | -1 015 998.0700 |
| Number of shares outstanding at the end of the financial year | 1 160 320.1380 |
| Class | (HKD) P-4%-mdist |
| Number of shares outstanding at the beginning of the financial year | 396 435.4180 |
| Number of shares issued | 36 517.2070 |
| Number of shares redeemed | -111 254.5360 |
| Number of shares outstanding at the end of the financial year | 321 698.0890 |
| Class | P-acc |
| Number of shares outstanding at the beginning of the financial year | 3 109 847.0700 |
| Number of shares issued | 1 000 495.6370 |
| Number of shares redeemed | -858 859.6190 |
| Number of shares outstanding at the end of the financial year | 3 251 483.0880 |
| Class | (CHF hedged) P-acc |
| Number of shares outstanding at the beginning of the financial year | 1 234 744.5730 |
| Number of shares issued | 232 116.6070 |
| Number of shares redeemed | -218 298.0660 |
| Number of shares outstanding at the end of the financial year | 1 248 563.1140 |
| Class | (EUR hedged) P-acc |
| Number of shares outstanding at the beginning of the financial year | 1 500 380.0560 |
| Number of shares issued | 614 548.3700 |
| Number of shares redeemed | -614 857.0650 |
| Number of shares outstanding at the end of the financial year | 1 500 071.3610 |
| Class | (GBP hedged) P-acc |
| Number of shares outstanding at the beginning of the financial year | 86 928.3810 |
| Number of shares issued | 68 742.0030 |
| Number of shares redeemed | -5 253.9340 |
| Number of shares outstanding at the end of the financial year | 150 416.4500 |
| Class | (SGD hedged) P-acc |
| Number of shares outstanding at the beginning of the financial year | 233 599.3200 |
| Number of shares issued | 33 276.9980 |
| Number of shares redeemed | -143 160.8190 |
| Number of shares outstanding at the end of the financial year | 123 715.4990 |
| Class | (SGD hedged) P-mdist |
| Number of shares outstanding at the beginning of the financial year | 144 058.7600 |
| Number of shares issued | 31 631.8310 |
| Number of shares redeemed | -59 778.5270 |
| Number of shares outstanding at the end of the financial year | 115 912.0640 |

UBS (Lux) Strategy SICAV – Systematic Allocation Portfolio Defensive (USD) Annual report and audited financial statements as of 31 May 2020
| Class | Q-4%-mdist |
| --- | --- |
| Number of shares outstanding at the beginning of the financial year | 58 760.4920 |
| Number of shares issued | 117 298.0260 |
| Number of shares redeemed | -49 357.1860 |
| Number of shares outstanding at the end of the financial year | 126 701.3320 |
| Class | Q-acc |
| Number of shares outstanding at the beginning of the financial year | 532 963.4070 |
| Number of shares issued | 425 000.0360 |
| Number of shares redeemed | -318 895.7430 |
| Number of shares outstanding at the end of the financial year | 639 067.7000 |
| Class | (CHF hedged) Q-acc |
| Number of shares outstanding at the beginning of the financial year | 357 201.8680 |
| Number of shares issued | 59 651.8280 |
| Number of shares redeemed | -89 241.1610 |
| Number of shares outstanding at the end of the financial year | 327 612.5350 |
| Class | (EUR hedged) Q-acc |
| Number of shares outstanding at the beginning of the financial year | 814 208.9740 |
| Number of shares issued | 287 964.2610 |
| Number of shares redeemed | -281 571.4140 |
| Number of shares outstanding at the end of the financial year | 820 601.8210 |
| Class | (GBP hedged) Q-acc |
| Number of shares outstanding at the beginning of the financial year | 21 692.1930 |
| Number of shares issued | 34 721.1200 |
| Number of shares redeemed | -23 787.3060 |
| Number of shares outstanding at the end of the financial year | 32 626.0070 |
| Class | (SEK hedged) Q-acc |
| Number of shares outstanding at the beginning of the financial year | 11 805.6020 |
| Number of shares issued | 876.3150 |
| Number of shares redeemed | -12 681.9170 |
| Number of shares outstanding at the end of the financial year | 0.0000 |
| Class | (SGD hedged) Q-mdist |
| Number of shares outstanding at the beginning of the financial year | 0.0000 |
| Number of shares issued | 92 549.5380 |
| Number of shares redeemed | -6 945.7140 |
| Number of shares outstanding at the end of the financial year | 85 603.8240 |

| Monthly Distribution 1 |  |
| --- | --- |
| UBS (Lux) Strategy SICAV – Systematic Allocation Portfolio Defensive (USD) | Ex-Date | Pay-Date | Currency | Amount per share |
| P-4%-mdist | 11.6.2019 | 14.6.2019 | USD | 0.32 |
| P-4%-mdist | 10.7.2019 | 15.7.2019 | USD | 0.33 |
| P-4%-mdist | 12.8.2019 | 16.8.2019 | USD | 0.33 |
| P-4%-mdist | 10.9.2019 | 13.9.2019 | USD | 0.33 |
| P-4%-mdist | 10.10.2019 | 15.10.2019 | USD | 0.33 |
| P-4%-mdist | 11.11.2019 | 14.11.2019 | USD | 0.33 |
| P-4%-mdist | 10.12.2019 | 13.12.2019 | USD | 0.33 |
| P-4%-mdist | 10.1.2020 | 15.1.2020 | USD | 0.33 |
| P-4%-mdist | 10.2.2020 | 13.2.2020 | USD | 0.33 |
| P-4%-mdist | 10.3.2020 | 13.3.2020 | USD | 0.32 |
| P-4%-mdist | 14.4.2020 | 17.4.2020 | USD | 0.30 |
| P-4%-mdist | 11.5.2020 | 14.5.2020 | USD | 0.31 |
| (HKD) P-4%-mdist | 11.6.2019 | 14.6.2019 | HKD | 3.27 |
| (HKD) P-4%-mdist | 10.7.2019 | 15.7.2019 | HKD | 3.32 |
| (HKD) P-4%-mdist | 12.8.2019 | 16.8.2019 | HKD | 3.32 |
| (HKD) P-4%-mdist | 10.9.2019 | 13.9.2019 | HKD | 3.31 |
| (HKD) P-4%-mdist | 10.10.2019 | 15.10.2019 | HKD | 3.29 |
| (HKD) P-4%-mdist | 11.11.2019 | 14.11.2019 | HKD | 3.29 |
| (HKD) P-4%-mdist | 10.12.2019 | 13.12.2019 | HKD | 3.30 |
| (HKD) P-4%-mdist | 10.1.2020 | 15.1.2020 | HKD | 3.31 |
| (HKD) P-4%-mdist | 10.2.2020 | 13.2.2020 | HKD | 3.31 |
| (HKD) P-4%-mdist | 10.3.2020 | 13.3.2020 | HKD | 3.23 |
| (HKD) P-4%-mdist | 14.4.2020 | 17.4.2020 | HKD | 3.04 |
| (HKD) P-4%-mdist | 11.5.2020 | 14.5.2020 | HKD | 3.09 |
| (SGD hedged) P-mdist | 17.6.2019 | 20.6.2019 | SGD | 0.25 |
| (SGD hedged) P-mdist | 15.7.2019 | 18.7.2019 | SGD | 0.19 |
| (SGD hedged) P-mdist | 16.8.2019 | 21.8.2019 | SGD | 0.19 |
| (SGD hedged) P-mdist | 16.9.2019 | 19.9.2019 | SGD | 0.19 |
| (SGD hedged) P-mdist | 15.10.2019 | 18.10.2019 | SGD | 0.19 |
| (SGD hedged) P-mdist | 15.11.2019 | 20.11.2019 | SGD | 0.19 |
| (SGD hedged) P-mdist | 16.12.2019 | 19.12.2019 | SGD | 0.19 |
| (SGD hedged) P-mdist | 15.1.2020 | 20.1.2020 | SGD | 0.18 |
| (SGD hedged) P-mdist | 17.2.2020 | 20.2.2020 | SGD | 0.18 |
| (SGD hedged) P-mdist | 16.3.2020 | 19.3.2020 | SGD | 0.18 |
| (SGD hedged) P-mdist | 15.4.2020 | 20.4.2020 | SGD | 0.21 |
| (SGD hedged) P-mdist | 15.5.2020 | 20.5.2020 | SGD | 0.23 |
| Q-4%-mdist | 11.6.2019 | 14.6.2019 | USD | 0.34 |
| Q-4%-mdist | 10.7.2019 | 15.7.2019 | USD | 0.34 |
| 1  See note 5 |  |  |  |  |

UBS (Lux) Strategy SICAV – Systematic Allocation Portfolio Defensive (USD) Annual report and audited financial statements as of 31 May 2020
| UBS (Lux) Strategy SICAV – Systematic Allocation Portfolio Defensive (USD) | Ex-Date | Pay-Date | Currency | Amount per share |
| --- | --- | --- | --- | --- |
| Q-4%-mdist | 12.8.2019 | 16.8.2019 | USD | 0.34 |
| Q-4%-mdist | 10.9.2019 | 13.9.2019 | USD | 0.34 |
| Q-4%-mdist | 10.10.2019 | 15.10.2019 | USD | 0.34 |
| Q-4%-mdist | 11.11.2019 | 14.11.2019 | USD | 0.34 |
| Q-4%-mdist | 10.12.2019 | 13.12.2019 | USD | 0.34 |
| Q-4%-mdist | 10.1.2020 | 15.1.2020 | USD | 0.35 |
| Q-4%-mdist | 10.2.2020 | 13.2.2020 | USD | 0.35 |
| Q-4%-mdist | 10.3.2020 | 13.3.2020 | USD | 0.34 |
| Q-4%-mdist | 14.4.2020 | 17.4.2020 | USD | 0.32 |
| Q-4%-mdist | 11.5.2020 | 14.5.2020 | USD | 0.33 |
| (SGD hedged) Q-mdist | 15.10.2019 | 18.10.2019 | SGD | 0.28 |
| (SGD hedged) Q-mdist | 15.11.2019 | 20.11.2019 | SGD | 0.19 |
| (SGD hedged) Q-mdist | 16.12.2019 | 19.12.2019 | SGD | 0.19 |
| (SGD hedged) Q-mdist | 15.1.2020 | 20.1.2020 | SGD | 0.18 |
| (SGD hedged) Q-mdist | 17.2.2020 | 20.2.2020 | SGD | 0.18 |
| (SGD hedged) Q-mdist | 16.3.2020 | 19.3.2020 | SGD | 0.18 |
| (SGD hedged) Q-mdist | 15.4.2020 | 20.4.2020 | SGD | 0.21 |
| (SGD hedged) Q-mdist | 15.5.2020 | 20.5.2020 | SGD | 0.23 |

UBS (Lux) Strategy SICAV – Systematic Allocation Portfolio Defensive (USD) Annual report and audited financial statements as of 31 May 2020

## Statement of Investments in Securities and other Net Assets as of 31 May 2020
| Description | Quantity/ | Valuation in USD | as a % |
| --- | --- | --- | --- |
|  | Nominal | Unrealized gain | of net |
|  |  | (loss) on Futures/ | assets |
|  |  | Forward |  |
|  |  | Exchange Contracts/ |  |
|  |  | Swaps (Note 1) |  |
| Transferable securities and money market instruments listed on an official stock exchange |  |  |  |
| Bearer shares |  |  |  |
| Austria |  |  |  |
| EUR	ANDRITZ AG NPV(BR) | 1 106.00 | 41 508.94 | 0.00 |
| EUR	ERSTE GROUP BK AG NPV | 4 663.00 | 102 518.85 | 0.01 |
| EUR	OMV AG NPV(VAR) | 2 083.00 | 68 861.98 | 0.01 |
| EUR	RAIFFEISEN BK INTL NPV (REGD) | 1 858.00 | 34 183.98 | 0.00 |
| EUR	VERBUND AG CLASS'A'NPV | 1 002.00 | 44 627.57 | 0.01 |
| EUR	VOESTALPINE AG NPV | 1 855.00 | 36 181.89 | 0.00 |
| Total Austria |  | 327 883.21 | 0.03 |
| Belgium |  |  |  |
| EUR	ANHEUSER-BUSCH IN NPV | 10 988.00 | 512 245.05 | 0.05 |
| EUR	COLRUYT SA NPV | 870.00 | 52 625.95 | 0.01 |
| EUR	ELIA SYS OPERATOR NPV | 47.00 | 5 520.82 | 0.00 |
| EUR	GALAPAGOS NV NPV | 676.00 | 137 869.78 | 0.01 |
| EUR	GPE BRUXELLES LAM NPV | 1 098.00 | 88 817.32 | 0.01 |
| EUR	PROXIMUS SA NPV | 2 156.00 | 45 074.67 | 0.00 |
| EUR	SOFINA NPV | 134.00 | 36 667.51 | 0.00 |
| EUR	SOLVAY SA NPV | 1 054.00 | 80 287.11 | 0.01 |
| EUR	UMICORE NPV | 2 903.00 | 128 649.42 | 0.01 |
| Total Belgium |  | 1 087 757.63 | 0.10 |
| Canada |  |  |  |
| CAD	AIR CANADA VAR VTG SHS NPV | 2 332.00 | 26 825.93 | 0.00 |
| CAD	ALGONQUIN PWR&UTIL COM NPV | 9 300.00 | 129 723.63 | 0.01 |
| CAD	ALTAGAS LTD COM NPV | 4 947.00 | 52 898.76 | 0.01 |
| CAD	ATCO LTD CL 1 NON VTG | 1 229.00 | 34 508.39 | 0.00 |
| CAD	BOMBARDIER INC CLASS'B'SUB-VTG NPV | 34 857.00 | 11 222.24 | 0.00 |
| CAD	CAE INC COM NPV | 4 749.00 | 70 984.18 | 0.01 |
| CAD	CAMECO CORP COM | 7 141.00 | 77 289.36 | 0.01 |
| CAD	CANADIAN UTILS LTD CL A | 2 162.00 | 51 680.28 | 0.00 |
| CAD	CI FINANCIAL CORP COM NPV | 3 932.00 | 46 426.16 | 0.00 |
| CAD	EMERA INC COM | 4 319.00 | 171 047.65 | 0.02 |
| CAD	EMPIRE LTD CL A | 2 938.00 | 66 233.60 | 0.01 |
| CAD	HUSKY ENERGY INC COM | 6 270.00 | 17 600.64 | 0.00 |
| CAD	HYDRO ONE INC COM NPV | 5 868.00 | 113 267.43 | 0.01 |
| CAD	IGM FINANCIAL INC COM | 1 349.00 | 31 914.56 | 0.00 |
| CAD	KEYERA CORPORATION COM NPV | 3 856.00 | 60 872.46 | 0.01 |
| CAD	KINROSS GOLD CORP COM NPV | 22 153.00 | 143 444.76 | 0.01 |
| CAD	KIRKLAND LAKE GOLD COM NPV | 4 847.00 | 186 031.94 | 0.02 |
| CAD	LUNDIN MINING CORP COM | 11 373.00 | 52 166.71 | 0.01 |
| CAD	METHANEX CORP COM | 434.00 | 7 005.17 | 0.00 |
| CAD	ONEX CORP SUB VTG | 1 438.00 | 67 218.33 | 0.01 |
| CAD	PAN AMER SILVER COM NPV | 251.00 | 7 352.76 | 0.00 |
| CAD	PRAIRIESKY ROYALTY COM NPV | 2 162.00 | 14 202.69 | 0.00 |
| CAD	QUEBECOR INC CL B | 3 572.00 | 78 226.33 | 0.01 |
| CAD	RITCHIE BROS AUCTIONEERS COM | 128.00 | 5 518.39 | 0.00 |
| CAD	TELUS CORPORATION COM NPV | 3.00 | 51.79 | 0.00 |
| CAD	TELUS CORPORATION NPV | 7 132.00 | 122 392.59 | 0.01 |
| CAD	TMX GROUP LTD COM NPV | 57.00 | 5 691.34 | 0.00 |
| CAD	WEST FRASER TIMBER COM NPV | 911.00 | 24 557.85 | 0.00 |
| CAD	WSP GLOBAL INC COM NPV | 1 924.00 | 123 691.68 | 0.01 |
| CAD	YAMANA GOLD INC COM | 1 063.00 | 5 729.53 | 0.00 |
| Total Canada |  | 1 805 777.13 | 0.17 |
| Finland |  |  |  |
| EUR	KONE CORPORATION NPV ORD 'B' | 4 980.00 | 333 921.24 | 0.03 |
| EUR	METSO OYJ NPV | 1 771.00 | 57 464.08 | 0.01 |
| EUR	WARTSILA OYJ ABP SER'B'EUR3.50 | 6 144.00 | 48 003.96 | 0.00 |
| Total Finland |  | 439 389.28 | 0.04 |
| France |  |  |  |
| EUR	ACCOR EUR3 | 2 571.00 | 72 497.24 | 0.01 |
| EUR	ADP EUR3 | 405.00 | 42 189.49 | 0.00 |
| EUR	AIR LIQUIDE(L') EUR5.5 (POST-SUBDIVISION) | 6 896.00 | 936 600.48 | 0.09 |
| EUR	AIRBUS EUR1 | 8 517.00 | 537 169.28 | 0.05 |
| EUR	ALSTOM EUR7.00 | 2 608.00 | 109 774.17 | 0.01 |
| EUR	AMUNDI EUR2.5 (AIW) | 927.00 | 69 035.39 | 0.01 |
| EUR	ARKEMA EUR10 | 982.00 | 85 594.80 | 0.01 |
| EUR	ATOS SE EUR1 | 1 378.00 | 103 955.74 | 0.01 |
| EUR	AXA EUR2.29 | 26 407.00 | 481 143.28 | 0.04 |
| EUR	BIOMERIEUX NPV (POST SPLIT) | 565.00 | 81 136.48 | 0.01 |
| EUR	BNP PARIBAS EUR2 | 15 868.00 | 569 325.58 | 0.05 |
| EUR	BOLLORE EUR0.16 | 12 078.00 | 34 474.12 | 0.00 |
| EUR	BOUYGUES EUR1 | 3 044.00 | 93 250.26 | 0.01 |
| EUR	BUREAU VERITAS EUR0.12 | 4 280.00 | 87 076.09 | 0.01 |
| EUR	CAPGEMINI EUR8 | 2 360.00 | 241 775.95 | 0.02 |
| EUR	CARREFOUR EUR2.50 | 8 583.00 | 130 368.39 | 0.01 |
| EUR	CASINO GUICH-PERR EUR1.53 | 871.00 | 32 824.87 | 0.00 |
| EUR	CIE DE ST-GOBAIN EUR4 | 7 410.00 | 239 609.87 | 0.02 |
| EUR	CNP ASSURANCES EUR1 | 2 290.00 | 24 084.55 | 0.00 |
| EUR	COVIVIO EUR3 | 829.00 | 48 550.57 | 0.00 |
| EUR	CREDIT AGRICOLE SA EUR3 | 15 954.00 | 138 848.09 | 0.01 |
| EUR	DANONE EUR0.25 | 9 004.00 | 616 560.30 | 0.06 |
| EUR	DASSAULT AVIATION EUR8 | 30.00 | 25 595.17 | 0.00 |
| EUR	DASSAULT SYSTEMES EUR0.50 | 1 902.00 | 322 113.76 | 0.03 |
| EUR	EDENRED EUR2 | 3 695.00 | 154 458.81 | 0.01 |
| EUR	EDF EUR0.5 | 8 673.00 | 76 754.81 | 0.01 |

UBS (Lux) Strategy SICAV – Systematic Allocation Portfolio Defensive (USD) Annual report and audited financial statements as of 31 May 2020
|  | Description | Quantity/ | Valuation in USD | as a % |
| --- | --- | --- | --- | --- |
|  | Nominal | Unrealized gain | of net |
|  |  | (loss) on Futures/ | assets |
|  |  | Forward |  |
|  |  | Exchange Contracts/ |  |
|  |  | Swaps (Note 1) |  |
|  |  |  |  |  |
| EUR | EIFFAGE EUR4 | 1 119.00 | 102 067.01 | 0.01 |
| EUR | ENGIE EUR1 | 25 595.00 | 302 784.82 | 0.03 |
| EUR | ESSILORLUXOTTICA EUR0.18 | 4 135.00 | 532 399.91 | 0.05 |
| EUR | EURAZEO NPV | 535.00 | 26 065.70 | 0.00 |
| EUR | FAURECIA EUR7 | 977.00 | 37 667.31 | 0.00 |
| EUR | GETLINK SE EUR0.40 | 6 494.00 | 93 762.34 | 0.01 |
| EUR | HERMES INTL NPV | 466.00 | 387 625.94 | 0.04 |
| EUR | ICADE NPV | 366.00 | 26 198.18 | 0.00 |
| EUR | ILIAD NPV | 287.00 | 50 568.32 | 0.01 |
| EUR | INGENICO GROUP EUR1 | 879.00 | 121 437.25 | 0.01 |
| EUR | IPSEN EUR1 | 538.00 | 42 310.01 | 0.00 |
| EUR | JC DECAUX SA NPV | 885.00 | 18 005.22 | 0.00 |
| EUR | KERING EUR4 | 1 092.00 | 570 416.64 | 0.05 |
| EUR | KLEPIERRE EUR1.40 | 2 786.00 | 52 807.08 | 0.01 |
| EUR | L'OREAL EUR0.20 | 3 616.00 | 1 053 429.27 | 0.10 |
| EUR | LEGRAND SA EUR4 | 3 847.00 | 262 315.60 | 0.02 |
| EUR | LVMH MOET HENNESSY EUR0.30 | 3 985.00 | 1 662 268.03 | 0.15 |
| EUR | NATIXIS EUR1.6 | 13 219.00 | 29 305.38 | 0.00 |
| EUR | ORANGE EUR4 | 28 722.00 | 346 486.00 | 0.03 |
| EUR | ORPEA EUR2.5 | 538.00 | 63 195.72 | 0.01 |
| EUR | PERNOD RICARD EUR1.55 | 3 089.00 | 481 390.49 | 0.04 |
| EUR | PEUGEOT SA EUR1 | 8 208.00 | 116 911.81 | 0.01 |
| EUR | PUBLICIS GROUPE SA EUR0.40 | 3 293.00 | 93 478.96 | 0.01 |
| EUR | REMY COINTREAU EUR1.60 | 333.00 | 39 560.06 | 0.00 |
| EUR | RENAULT SA EUR3.81 | 3 212.00 | 72 189.80 | 0.01 |
| EUR | SAFRAN EUR0.20 | 4 631.00 | 442 290.00 | 0.04 |
| EUR | SANOFI EUR2 | 16 478.00 | 1 604 363.92 | 0.15 |
| EUR | SARTORIUS STEDIM B EUR0.20 (POST SUBD) | 425.00 | 115 256.15 | 0.01 |
| EUR | SCHNEIDER ELECTRIC EUR8 | 7 948.00 | 788 967.07 | 0.07 |
| EUR | SCOR SE EUR7.876972 (POST CONS) | 2 265.00 | 55 881.91 | 0.01 |
| EUR | SEB SA EUR1 | 318.00 | 43 649.95 | 0.00 |
| EUR | SOC GENERALE EUR1.25 | 11 222.00 | 165 172.30 | 0.02 |
| EUR | SODEXO EUR4 | 1 367.00 | 92 056.06 | 0.01 |
| EUR | SUEZ EUR4 | 5 224.00 | 59 329.46 | 0.01 |
| EUR | TELEPERFORMANCE EUR2.50 | 848.00 | 201 011.43 | 0.02 |
| EUR | THALES EUR3 | 1 492.00 | 114 149.09 | 0.01 |
| EUR | TOTAL EUR2.5 | 35 012.00 | 1 309 545.74 | 0.12 |
| EUR | UBISOFT ENTERTAIN EUR0.31 | 1 332.00 | 103 211.75 | 0.01 |
| EUR | UNIBAIL-RODAMCO-WE NPV(1 ORD UNIBAIL-R & 1CLS) | 2 043.00 | 108 399.73 | 0.01 |
| EUR | VALEO EUR1 (POST SUBD) | 3 381.00 | 83 302.95 | 0.01 |
| EUR | VEOLIA ENVIRONNEME EUR5 | 7 988.00 | 174 910.12 | 0.02 |
| EUR | VINCI EUR2.50 | 7 376.00 | 681 317.76 | 0.06 |
| EUR | VIVENDI SA EUR5.50 | 12 035.00 | 273 499.11 | 0.03 |
| EUR | WENDEL EUR4 | 410.00 | 37 670.85 | 0.00 |
| EUR | WORLDLINE EUR0.68 | 2 049.00 | 152 980.25 | 0.01 |
| Total France | 18 546 379.99 | 1.70 |
| Germany |  |  |  |  |
| EUR | BAYERISCHE MOTOREN WERKE AG EUR1 | 4 715.00 | 275 872.81 | 0.03 |
| EUR | BEIERSDORF AG NPV | 1 538.00 | 161 259.47 | 0.01 |
| EUR | CARL ZEISS MEDITEC NPV | 661.00 | 67 717.75 | 0.01 |
| EUR | COMMERZBANK AG NPV | 14 146.00 | 55 089.30 | 0.00 |
| EUR | CONTINENTAL AG ORD NPV | 1 493.00 | 146 875.72 | 0.01 |
| EUR | COVESTRO AG NPV | 2 460.00 | 91 094.12 | 0.01 |
| EUR | DEUTSCHE WOHNEN AG NPV (BR) | 5 289.00 | 236 623.07 | 0.02 |
| EUR | FRAPORT AG NPV | 600.00 | 29 779.83 | 0.00 |
| EUR | FRESENIUS MED CARE NPV | 3 170.00 | 266 576.90 | 0.02 |
| EUR | FRESENIUS SE & CO. KGAA NPV | 6 047.00 | 290 579.64 | 0.03 |
| EUR | GEA GROUP AG NPV | 2 331.00 | 69 463.47 | 0.01 |
| EUR | HEIDELBERGCEMENT NPV | 2 158.00 | 107 132.14 | 0.01 |
| EUR | HENKEL AG & CO KGAA | 1 443.00 | 115 648.97 | 0.01 |
| EUR | HOCHTIEF AG NPV | 340.00 | 29 915.54 | 0.00 |
| EUR | KION GROUP AG NPV | 900.00 | 50 255.97 | 0.00 |
| EUR | KNORR BREMSE AG NPV | 687.00 | 72 735.08 | 0.01 |
| EUR | LANXESS AG NPV | 1 240.00 | 64 110.51 | 0.01 |
| EUR | MERCK KGAA NPV | 1 919.00 | 220 183.95 | 0.02 |
| EUR | METRO AG (NEW) NPV | 2 588.00 | 24 170.09 | 0.00 |
| EUR | NEMETSCHEK SE ORD NPV | 524.00 | 41 325.58 | 0.00 |
| EUR | PUMA SE NPV | 1 200.00 | 85 668.75 | 0.01 |
| EUR | RWE AG (NEU) NPV | 8 674.00 | 287 429.53 | 0.03 |
| EUR | SAP AG ORD NPV | 14 690.00 | 1 854 637.84 | 0.17 |
| EUR | SYMRISE AG NPV (BR) | 1 865.00 | 204 134.02 | 0.02 |
| EUR | TEAMVIEWER AG NPV | 1 491.00 | 75 885.31 | 0.01 |
| EUR | THYSSENKRUPP AG NPV | 6 923.00 | 46 666.85 | 0.00 |
| EUR | VOLKSWAGEN AG ORD NPV | 463.00 | 73 338.57 | 0.01 |
| EUR | WIRECARD AG NPV | 1 701.00 | 178 917.67 | 0.02 |
| EUR | ZALANDO SE NPV | 2 077.00 | 140 561.75 | 0.01 |
| Total Germany	5 363 650.20	0.49 |
| Ireland |  |  |  |  |
| EUR | FLUTTER ENTERTAINM ORD EUR0.09 | 1 091.99 | 140 052.55 | 0.01 |
| GBP | FLUTTER ENTERTAINM ORD EUR0.09 | 934.54 | 118 772.73 | 0.01 |
| EUR | KERRY GROUP 'A'ORD EUR0.125(DUBLIN LIST | 2 221.00 | 274 969.92 | 0.03 |
| Total Ireland	533 795.20	0.05 |
| Italy |  |  |  |  |
| EUR | ASSIC GENERALI SPA EUR1 | 15 710.00 | 218 175.61 | 0.02 |
| EUR | DIASORIN SPA EUR1 | 245.00 | 51 371.10 | 0.01 |
| EUR | FINECOBANK SPA EUR0.33 | 8 852.00 | 103 437.72 | 0.01 |
| EUR | LEONARDO SPA EUR4.40 | 6 073.00 | 37 829.69 | 0.00 |
| EUR | POSTE ITALIANE SPA NPV | 8 521.00 | 74 821.97 | 0.01 |
| EUR | TELECOM ITALIA SPA DI RISP EUR0.55 | 87 982.00 | 33 940.20 | 0.00 |
| EUR | TELECOM ITALIA SPA EUR0.55 | 131 310.00 | 48 492.81 | 0.00 |
| Total Italy |  |  | 568 069.10 | 0.05 |

UBS (Lux) Strategy SICAV – Systematic Allocation Portfolio Defensive (USD) Annual report and audited financial statements as of 31 May 2020
| Description | Quantity/ | Valuation in USD | as a % |
| --- | --- | --- | --- |
|  | Nominal | Unrealized gain | of net |
|  |  | (loss) on Futures/ | assets |
|  |  | Forward |  |
|  |  | Exchange Contracts/ |  |
|  |  | Swaps (Note 1) |  |
| Luxembourg |  |  |  |
| EUR	AROUNDTOWN SA EUR0.01 | 19 041.00 | 104 672.82 | 0.01 |
| EUR	EUROFINS SCIENTIFI EUR0.10 | 181.00 | 122 371.63 | 0.01 |
| Total Luxembourg |  | 227 044.45 | 0.02 |
| The Netherlands |  |  |  |
| USD	AERCAP HOLDINGS EUR0.01 | 1 839.00 | 59 289.36 | 0.01 |
| EUR	AKZO NOBEL NV EUR0.50(POST REV SPLIT) | 3 008.00 | 246 261.83 | 0.02 |
| EUR	ALTICE EUROPE N.V. EUR0.01 (COMMON SHARES A) | 8 794.00 | 35 215.22 | 0.00 |
| EUR	EXOR NV EUR0.01 | 1 484.00 | 79 994.25 | 0.01 |
| EUR	HEINEKEN HOLDING EUR1.6 | 1 632.00 | 134 517.82 | 0.01 |
| EUR	HEINEKEN NV EUR1.60 | 3 801.00 | 348 728.93 | 0.03 |
| EUR	ING GROEP N.V. EUR0.01 | 53 698.00 | 346 798.02 | 0.03 |
| EUR	JUST EAT TAKEAWAY EUR0.04 | 1 718.00 | 186 438.85 | 0.02 |
| EUR	KON KPN NV EUR0.04 | 50 832.00 | 124 620.72 | 0.01 |
| EUR	KONINKLIJKE AHOLD EUR0.01 | 15 913.00 | 403 755.83 | 0.04 |
| EUR	KONINKLIJKE PHILIPS NV EUR0.20 | 13 235.00 | 600 508.43 | 0.05 |
| USD	NXP SEMICONDUCTORS EUR0.20 | 4 077.00 | 391 799.70 | 0.04 |
| EUR	QIAGEN NV EUR0.01 | 3 447.00 | 150 725.17 | 0.01 |
| EUR	RANDSTAD N.V. EUR0.10 | 1 713.00 | 71 892.84 | 0.01 |
| EUR	STMICROELECTRONICS EUR1.04 | 9 904.00 | 243 359.22 | 0.02 |
| EUR	VOPAK(KON) EUR0.50 | 1 052.00 | 57 702.18 | 0.01 |
| EUR	WOLTERS KLUWER EUR0.12 | 4 114.00 | 328 022.58 | 0.03 |
| Total The Netherlands |  | 3 809 630.95 | 0.35 |
| Spain |  |  |  |
| EUR	ACS ACTIVIDADES CO EUR0.5 | 3 759.00 | 95 961.38 | 0.01 |
| EUR	AENA SME S.A. EUR10 | 969.00 | 138 182.57 | 0.01 |
| EUR	AMADEUS IT GROUP EUR0.01 | 6 305.00 | 329 207.44 | 0.03 |
| EUR	CAIXABANK SA EUR1 | 50 578.00 | 94 489.41 | 0.01 |
| EUR	CELLNEX TELECOM SA EUR0.25 | 3 680.00 | 208 438.37 | 0.02 |
| EUR	ENAGAS SA EUR1.50 | 3 704.00 | 83 268.12 | 0.01 |
| EUR	ENDESA SA EUR1.2 | 4 499.00 | 106 845.28 | 0.01 |
| EUR	FERROVIAL SA EUR0.2 | 7 148.00 | 194 165.32 | 0.02 |
| EUR	GRIFOLS SA EUR0.25 (CLASS A) POST SUBD | 4 484.00 | 140 256.30 | 0.01 |
| EUR	IBERDROLA SA EUR0.75 (POST SUBDIVISION) | 84 713.00 | 912 905.13 | 0.08 |
| EUR	INDITEX EUR0.03 (POST SUBD) | 15 543.00 | 433 095.86 | 0.04 |
| EUR	NATURGY ENERGY GRO EUR1 | 3 957.00 | 73 484.20 | 0.01 |
| EUR	RED ELECTRICA CORP EUR0.5 | 6 044.00 | 106 493.01 | 0.01 |
| EUR	REPSOL SA EUR1 | 21 470.00 | 199 893.63 | 0.02 |
| EUR	SIEMENS GAMESA REN EUR0.17 | 3 366.00 | 56 668.01 | 0.00 |
| EUR	TELEFONICA SA EUR1 | 64 469.00 | 304 130.98 | 0.03 |
| Total Spain |  | 3 477 485.01 | 0.32 |
| Switzerland |  |  |  |
| CHF	PARGESA HLDGS SA CHF20(BR) | 1 156.00 | 87 238.47 | 0.01 |
| CHF	SWATCH GROUP CHF2.25(BR) | 774.00 | 154 606.64 | 0.01 |
| CHF	SWISS RE AG CHF0.10 | 7 603.00 | 515 361.05 | 0.05 |
| CHF	VIFOR PHARMA AG CHF0.01 | 1 234.00 | 187 662.54 | 0.02 |
| Total Switzerland |  | 944 868.70 | 0.09 |
| United Kingdom |  |  |  |
| USD	COCA-COLA EUROPEAN ORD EUR0.01 | 3 459.00 | 130 404.30 | 0.01 |
| EUR	UNILEVER EUR0.16 | 20 957.00 | 1 083 752.52 | 0.10 |
| Total United Kingdom |  | 1 214 156.82 | 0.11 |
| Total Bearer shares |  | 38 345 887.67 | 3.52 |
| Participation certificates |  |  |  |
| Switzerland |  |  |  |
| CHF	LINDT & SPRUENGLI PTG CERT CHF10 | 28.00 | 233 454.77 | 0.02 |
| CHF	SCHINDLER-HLDG AG PTG CERT CHF0.10(POST-SUBD) | 1 028.00 | 238 728.84 | 0.02 |
| Total Switzerland |  | 472 183.61 | 0.04 |
| Total Participation certificates |  | 472 183.61 | 0.04 |
| Other shares |  |  |  |
| Switzerland |  |  |  |
| CHF	ROCHE HLDGS AG GENUSSCHEINE NPV | 18 191.00 | 6 299 724.89 | 0.58 |
| Total Switzerland |  | 6 299 724.89 | 0.58 |
| Total Other shares |  | 6 299 724.89 | 0.58 |
| Preference shares |  |  |  |
| Germany |  |  |  |
| EUR	BAYERISCHE MOTORENWERKE AG EUR1 | 639.00 | 29 412.56 | 0.00 |
| EUR	FUCHS PETROLUB SE NON-VTG PRF NPV | 1 142.00 | 45 502.28 | 0.00 |
| EUR	HENKEL AG&CO. KGAA NON-VTG PRF NPV | 2 637.00 | 235 482.67 | 0.02 |
| EUR	PORSCHE AUTO HL SE NON VTG PRF NPV | 2 146.00 | 116 753.21 | 0.01 |
| EUR	SARTORIUS AG NON VTG PRF NPV | 530.00 | 196 554.47 | 0.02 |
| EUR	VOLKSWAGEN AG NON VTG PRF NPV | 2 591.00 | 381 878.10 | 0.04 |
| Total Germany |  | 1 005 583.29 | 0.09 |
| Total Preference shares |  | 1 005 583.29 | 0.09 |
| Registered shares |  |  |  |
| Belgium |  |  |  |
| EUR	AGEAS NPV | 2 725.00 | 92 965.49 | 0.01 |
| EUR	KBC GROUP NV NPV | 3 685.00 | 192 940.39 | 0.02 |
| EUR	TELENET GRP HLDG NPV | 778.00 | 31 898.95 | 0.00 |
| EUR	UCB NPV | 1 907.00 | 190 912.63 | 0.02 |
| Total Belgium |  | 508 717.46 | 0.05 |

UBS (Lux) Strategy SICAV – Systematic Allocation Portfolio Defensive (USD) Annual report and audited financial statements as of 31 May 2020
|  | Description | Quantity/ | Valuation in USD | as a % |
| --- | --- | --- | --- | --- |
|  | Nominal | Unrealized gain | of net |
|  |  | (loss) on Futures/ | assets |
|  |  | Forward |  |
|  |  | Exchange Contracts/ |  |
|  |  | Swaps (Note 1) |  |
| Canada |  |  |  |  |
| CAD | 1ST QUANTUM MINLS COM NPV | 12 180.00 | 71 113.15 | 0.01 |
| CAD | AGNICO EAGLE MINES LTD COM | 4 214.00 | 268 565.52 | 0.02 |
| CAD | ALIMENTATION COUCHE TARD INC SUB VTG SH | 15 356.00 | 478 833.45 | 0.04 |
| CAD | BANK NOVA SCOTIA HALIFAX COM | 21 520.00 | 858 962.81 | 0.08 |
| CAD | BANK OF MONTREAL COM NPV | 11 394.00 | 559 890.38 | 0.05 |
| CAD | BARRICK GOLD CORP COM NPV | 31 177.00 | 746 831.48 | 0.07 |
| CAD | BCE INC COM NEW | 2 749.00 | 113 822.36 | 0.01 |
| CAD | BLACKBERRY LTD NPV | 9 065.00 | 41 973.67 | 0.00 |
| CAD | BROOKFIELD ASSET M LTD VTG SHS NPV CL'A' | 23 774.50 | 743 576.65 | 0.07 |
| CAD | CAN PACIFIC RYS COM NPV | 2 414.00 | 602 714.08 | 0.06 |
| CAD | CANADIAN NAT RES LTD COM | 20 840.00 | 379 196.93 | 0.03 |
| CAD | CANADIAN NATL RY CO COM | 12 590.00 | 1 080 287.95 | 0.10 |
| CAD | CANADIAN TIRE LTD CL A | 1 028.00 | 87 478.92 | 0.01 |
| CAD | CCL INDUSTRIES INC 'B'NON-VTG COM NPV | 2 658.00 | 89 208.96 | 0.01 |
| CAD | CDN IMPERIAL BK OF COMMERCE COM | 7 946.00 | 507 562.11 | 0.05 |
| CAD | CENOVUS ENERGY INC COM NPV | 18 641.00 | 80 918.83 | 0.01 |
| CAD | CGI INC COM NPV SUB VOTING SHARES C | 4 258.00 | 271 030.85 | 0.02 |
| CAD | CONSTELLATION SOFT COM STK NPV | 371.00 | 420 100.73 | 0.04 |
| CAD | DOLLARAMA INC COM NPV | 5 333.00 | 180 107.39 | 0.02 |
| CAD | ENBRIDGE INC COM NPV | 35 685.00 | 1 156 109.31 | 0.11 |
| CAD | FAIRFAX FINL HLDGS SUB-VTG COM NPV | 447.00 | 123 689.84 | 0.01 |
| CAD | FIRST CAP REAL EST UNIT | 1 400.00 | 13 258.57 | 0.00 |
| CAD | FORTIS INC COM NPV | 7 967.00 | 305 549.61 | 0.03 |
| CAD | FRANCO NEVADA CORP COM NPV | 3 312.00 | 463 085.75 | 0.04 |
| CAD | GILDAN ACTIVEWEAR INC COM | 3 559.00 | 49 180.22 | 0.00 |
| CAD | GREAT WEST LIFECO INC COM | 4 888.00 | 79 285.89 | 0.01 |
| CAD | IA FINANCIAL CORP COM NPV | 1 902.00 | 60 505.67 | 0.01 |
| CAD | IMPERIAL OIL LTD COM NEW | 4 756.00 | 74 013.57 | 0.01 |
| CAD | INTACT FINL CORP COM NPV | 2 450.00 | 232 982.20 | 0.02 |
| CAD | INTER PIPELINE LTD COM NPV | 7 431.00 | 67 794.03 | 0.01 |
| CAD | LOBLAW COS LTD COM | 3 184.00 | 157 011.60 | 0.01 |
| CAD | MAGNA INTL INC COM NPV | 5 193.00 | 218 134.55 | 0.02 |
| CAD | MANULIFE FINL CORP COM | 34 955.00 | 432 448.63 | 0.04 |
| CAD | METRO INC CL A SUB | 4 549.00 | 188 976.69 | 0.02 |
| CAD | NATL BK OF CANADA COM NPV | 5 999.00 | 260 237.33 | 0.02 |
| CAD | NUTRIEN LTD NPV | 10 204.00 | 346 974.39 | 0.03 |
| CAD | OPEN TEXT CO COM NPV | 4 927.00 | 203 895.53 | 0.02 |
| CAD | PARKLAND CORP. COM NPV | 2 600.00 | 72 834.61 | 0.01 |
| CAD | PEMBINA PIPELINE C COM NPV | 9 783.00 | 243 477.93 | 0.02 |
| CAD | POWER CORP CDA COM | 10 236.00 | 165 959.17 | 0.01 |
| CAD | RESTAURANT BRANDS COM NPV | 5 072.00 | 276 020.72 | 0.03 |
| CAD | ROGERS COMMS INC CLASS'B'COM CAD1.62478 | 6 448.00 | 269 172.04 | 0.02 |
| CAD | ROYAL BK OF CANADA COM NPV | 25 299.00 | 1 635 045.34 | 0.15 |
| CAD | SAPUTO INC COM | 4 656.00 | 113 957.81 | 0.01 |
| CAD | SHAW COMMUNICATIONS INC CL B CONV | 8 609.00 | 144 687.51 | 0.01 |
| CAD | SHOPIFY INC COM NPV CL A | 1 831.00 | 1 384 271.50 | 0.13 |
| CAD | SUN LIFE FINL INC COM | 10 533.00 | 359 914.33 | 0.03 |
| CAD | SUNCOR ENERGY INC COM NPV 'NEW' | 27 057.00 | 463 347.70 | 0.04 |
| CAD | TC ENERGY CORPORAT COM NPV | 16 493.00 | 740 407.07 | 0.07 |
| CAD | TECK RESOURCES LTD CLASS'B'SUB-VTG COM NPV | 8 747.00 | 82 774.39 | 0.01 |
| CAD | THOMSON-REUTERS CP COM NPV(POST REV SPLIT) | 3 554.00 | 237 121.89 | 0.02 |
| CAD | TORONTO-DOMINION COM NPV | 32 015.00 | 1 366 115.40 | 0.13 |
| CAD | WESTON GEORGE LTD COM | 1 337.00 | 96 207.51 | 0.01 |
| CAD | WHEATON PRECIOUS M COM NPV | 7 884.00 | 338 358.33 | 0.03 |
| Total Canada | 20 004 982.85 | 1.84 |
| Finland |  |  |  |  |
| EUR | ELISA OYJ NPV | 2 010.00 | 126 055.73 | 0.01 |
| EUR | FORTUM OYJ EUR3.40 | 6 307.00 | 120 808.48 | 0.01 |
| EUR | NESTE OIL OYJ NPV | 6 029.00 | 243 574.93 | 0.03 |
| EUR | NOKIA OYJ NPV | 81 890.00 | 324 782.62 | 0.03 |
| EUR | ORION CORP SER'B'NPV | 1 585.00 | 84 803.90 | 0.01 |
| EUR | SAMPO PLC SER'A'NPV | 6 616.00 | 236 380.96 | 0.02 |
| EUR | STORA ENSO OYJ NPV SER'R' | 8 933.00 | 109 551.27 | 0.01 |
| EUR | UPM-KYMMENE CORP NPV | 7 865.00 | 227 201.99 | 0.02 |
| Total Finland	1 473 159.88	0.14 |
| France |  |  |  |  |
| EUR | BOLLORE EUR0.16 (RFD 01/01/2020) | 70.00 | 200.89 | 0.00 |
| EUR | GECINA EUR7.50 | 628.00 | 80 822.91 | 0.01 |
| EUR | MICHELIN (CGDE) EUR2 | 2 494.00 | 252 063.89 | 0.02 |
| Total France | 333 087.69 | 0.03 |
| Germany |  |  |  |  |
| EUR | ADIDAS AG NPV (REGD) | 2 641.00 | 696 826.32 | 0.06 |
| EUR | ALLIANZ SE NPV(REGD)(VINKULIERT) | 5 854.00 | 1 060 234.49 | 0.10 |
| EUR | BASF SE NPV | 12 762.00 | 690 555.21 | 0.06 |
| EUR | BAYER AG NPV (REGD) | 14 232.00 | 961 256.21 | 0.09 |
| EUR | BRENNTAG AG | 2 225.00 | 117 338.74 | 0.01 |
| EUR | DAIMLER AG ORD NPV(REGD) | 12 221.00 | 453 768.70 | 0.04 |
| EUR | DELIVERY HERO SE NPV | 1 722.00 | 165 074.92 | 0.02 |
| EUR | DEUTSCHE BANK AG NPV(REGD) | 27 954.00 | 234 173.67 | 0.02 |
| EUR | DEUTSCHE BOERSE AG NPV(REGD) | 2 788.00 | 458 672.18 | 0.04 |
| EUR | DEUTSCHE LUFTHANSA ORD NPV (REGD)(VINK) | 3 456.00 | 35 144.42 | 0.00 |
| EUR | DEUTSCHE POST AG NPV(REGD) | 14 477.00 | 450 575.68 | 0.04 |
| EUR | DEUTSCHE TELEKOM NPV(REGD) | 48 960.00 | 771 979.80 | 0.07 |
| EUR | E.ON SE NPV | 32 831.00 | 347 154.97 | 0.03 |
| EUR | EVONIK INDUSTRIES NPV | 3 422.00 | 84 313.13 | 0.01 |
| EUR | HANNOVER RUECKVERS ORD NPV(REGD) | 899.00 | 144 600.38 | 0.01 |
| EUR | INFINEON TECHNOLOG AG NPV (REGD) | 18 038.00 | 378 337.52 | 0.04 |
| EUR | LEG IMMOBILIEN AG NPV | 795.00 | 99 114.39 | 0.01 |
| EUR | MTU AERO ENGINES H NPV (REGD) | 810.00 | 130 555.41 | 0.01 |
| EUR | MUENCHENER RUECKVE NPV(REGD) | 2 106.00 | 479 297.82 | 0.05 |
| EUR | SCOUT24 AG NPV | 1 227.00 | 93 833.67 | 0.01 |

UBS (Lux) Strategy SICAV – Systematic Allocation Portfolio Defensive (USD) Annual report and audited financial statements as of 31 May 2020
|  | Description | Quantity/ | Valuation in USD | as a % |
| --- | --- | --- | --- | --- |
|  |  | Nominal | Unrealized gain | of net |
|  |  |  | (loss) on Futures/ | assets |
|  |  |  | Forward |  |
|  |  |  | Exchange Contracts/ |  |
|  |  |  | Swaps (Note 1) |  |
|  |  |  |  |  |
| EUR | SIEMENS AG NPV(REGD) | 10 970.00 | 1 202 310.31 | 0.11 |
| EUR | SIEMENS HEALTHINEE NPV | 2 097.00 | 108 384.17 | 0.01 |
| EUR | TELEFONICA DEUTSCH NPV | 13 761.00 | 42 339.30 | 0.00 |
| EUR | UNIPER SE NPV | 2 823.00 | 88 238.61 | 0.01 |
| EUR | UNITED INTERNET AG NPV(REGD) | 1 763.00 | 72 324.37 | 0.01 |
| EUR | VONOVIA SE NPV | 7 581.00 | 436 646.52 | 0.04 |
| Total Germany	9 803 050.91	0.90 |
| Ireland |  |  |  |  |
| EUR | CRH ORD EUR0.32 | 11 057.00 | 360 368.14 | 0.03 |
| EUR | KINGSPAN GROUP ORD EUR0.13(DUBLIN LISTING) | 1 897.00 | 117 217.61 | 0.01 |
| EUR | SMURFIT KAPPA GRP ORD EUR0.001 | 2 904.00 | 94 517.54 | 0.01 |
| Total Ireland	572 103.29	0.05 |
| Italy |  |  |  |  |
| EUR | ATLANTIA SPA EUR1 | 7 525.00 | 122 166.49 | 0.01 |
| EUR | DAVIDE DE CAMPARI EUR0.05 (POST SUBD) | 7 969.00 | 64 709.52 | 0.01 |
| EUR | ENEL EUR1 | 116 005.00 | 890 492.36 | 0.08 |
| EUR | ENI SPA EUR1 | 37 042.00 | 334 697.41 | 0.03 |
| EUR | FERRARI NV EUR0.01(NEW) | 1 771.00 | 299 238.72 | 0.03 |
| EUR | INTESA SANPAOLO NPV | 212 082.00 | 366 225.78 | 0.03 |
| EUR | MEDIOBANCA SPA EUR0.5 | 8 635.00 | 56 055.61 | 0.01 |
| EUR | MONCLER SPA NPV | 2 786.00 | 103 661.79 | 0.01 |
| EUR | NEXI SPA NPV | 3 931.00 | 64 584.01 | 0.01 |
| EUR | PIRELLI & C SPA NPV | 5 939.00 | 26 623.17 | 0.00 |
| EUR | PRYSMIAN SPA EUR0.10 | 3 386.00 | 72 108.06 | 0.01 |
| EUR | RECORDATI EUR0.125 | 1 754.00 | 79 837.45 | 0.01 |
| EUR | SNAM EUR1 | 28 654.00 | 133 357.79 | 0.01 |
| EUR | TERNA SPA ORD EUR0.22 | 20 198.00 | 136 376.18 | 0.01 |
| EUR | UNICREDIT SPA NPV (POST REV SPLIT) | 29 976.00 | 255 613.60 | 0.02 |
| Total Italy |  | 3 005 747.94 | 0.28 |
| Luxembourg |  |  |  |
| EUR	ARCELORMITTAL NPV(POST STOCK SPLIT) | 10 222.00 | 97 842.65 | 0.01 |
| EUR	TENARIS S.A. USD1 | 6 757.00 | 42 030.30 | 0.00 |
| Total Luxembourg |  | 139 872.95 | 0.01 |
| The Netherlands |  |  |  |
| EUR	ADYEN NV EUR0.01 | 239.00 | 314 502.50 | 0.03 |
| EUR	AEGON NV EUR0.12 | 23 044.00 | 61 647.35 | 0.01 |
| EUR	ASML HOLDING NV EUR0.09 | 6 125.00 | 1 995 910.46 | 0.18 |
| EUR	CNH INDUSTRIAL NV COM EUR0.01 | 14 158.00 | 85 861.65 | 0.01 |
| EUR	FIAT CHRYSLER AUTO EUR0.01 | 15 322.00 | 135 358.89 | 0.01 |
| EUR	KONINKLIJKE DSM NV EUR1.5 | 2 568.00 | 328 642.03 | 0.03 |
| EUR	NN GROUP N.V. EUR0.12 | 4 348.00 | 134 309.54 | 0.01 |
| EUR	PROSUS N.V. EUR0.05 | 7 115.00 | 590 412.02 | 0.05 |
| Total The Netherlands |  | 3 646 644.44 | 0.33 |
| Portugal |  |  |  |
| EUR	EDP ENERGIAS PORTU EUR1(REGD) | 39 080.00 | 183 576.50 | 0.02 |
| EUR	GALP ENERGIA EUR1-B | 7 114.00 | 84 790.56 | 0.01 |
| EUR	JERONIMO MARTINS EUR5 | 3 477.00 | 59 484.32 | 0.00 |
| Total Portugal |  | 327 851.38 | 0.03 |
| Spain |  |  |  |
| EUR	BANCO SANTANDER SA EUR0.50(REGD) | 232 878.00 | 527 797.76 | 0.05 |
| EUR	BANKINTER SA EUR0.3(REGD) | 9 843.00 | 41 726.11 | 0.00 |
| EUR	BBVA(BILB-VIZ-ARG) EUR0.49 | 92 942.00 | 288 751.61 | 0.03 |
| EUR	MAPFRE SA EUR0.10 | 16 549.00 | 29 140.31 | 0.00 |
| Total Spain |  | 887 415.79 | 0.08 |
| Switzerland |  |  |  |
| CHF	ABB LTD CHF0.12 (REGD) | 47 430.00 | 932 604.04 | 0.09 |
| CHF	ADECCO GROUP AG CHF0.1 (REGD) | 3 905.00 | 185 433.64 | 0.02 |
| CHF	ALCON AG CHF0.04 | 12 424.00 | 800 246.82 | 0.07 |
| CHF	BALOISE-HLDGS CHF0.1(REGD) | 1 286.00 | 182 853.75 | 0.02 |
| CHF	BARRY CALLEBAUT AG CHF0.02 (REGD) | 76.00 | 152 838.56 | 0.01 |
| CHF	BQE CANT VAUDOISE CHF1 | 60.00 | 5 833.25 | 0.00 |
| CHF	CLARIANT CHF4.00(REGD) | 4 985.00 | 91 402.91 | 0.01 |
| CHF	CREDIT SUISSE GRP CHF0.04(REGD) | 66 225.00 | 604 414.28 | 0.06 |
| CHF	EMS-CHEMIE HLDG AG CHF0.01(REGD)(POST RECON) | 215.00 | 159 006.46 | 0.01 |
| CHF	GEBERIT CHF0.10(REGD) | 952.00 | 463 068.18 | 0.04 |
| CHF	GIVAUDAN AG CHF10 | 237.00 | 850 358.07 | 0.08 |
| CHF	JULIUS BAER GRUPPE CHF0.02 (REGD) | 5 699.00 | 242 624.23 | 0.02 |
| CHF	KUEHNE&NAGEL INTL CHF1(REGD)(POST-SUBD) | 1 353.00 | 194 915.37 | 0.02 |
| CHF	LAFARGEHOLCIM LTD CHF2 (REGD) | 12 739.00 | 526 957.28 | 0.05 |
| CHF	LINDT & SPRUENGLI CHF100(REGD) | 3.00 | 260 435.10 | 0.02 |
| CHF	LOGITECH INTL CHF0.25(REGD) (POST-SUBD) | 3 878.00 | 228 796.75 | 0.02 |
| CHF	LONZA GROUP AG CHF1(REGD) | 1 943.00 | 953 601.02 | 0.09 |
| CHF	NESTLE SA CHF0.10(REGD) | 77 169.00 | 8 342 638.01 | 0.77 |
| CHF	NOVARTIS AG CHF0.50(REGD) | 55 534.00 | 4 799 612.80 | 0.44 |
| CHF	PARTNERS GROUP HLG CHF0.01 (REGD) | 475.00 | 392 776.10 | 0.04 |
| CHF	RICHEMONT(CIE FIN) CHF1.00 (REG) SER 'A' | 13 474.00 | 783 727.62 | 0.07 |
| CHF	SCHINDLER-HLDG AG CHF0.1(REGD)(POST-SUBD) | 589.00 | 136 352.24 | 0.01 |
| CHF	SGS LTD CHF1(REGD) | 155.00 | 363 823.25 | 0.03 |
| CHF	SIKA AG CHF0.01 (REG) | 3 555.00 | 608 720.20 | 0.06 |
| CHF	SONOVA HOLDING AG CHF0.05 (REGD) | 1 385.00 | 303 468.82 | 0.03 |
| CHF	STRAUMANN HLDG CHF0.1(REGD) | 263.00 | 212 984.28 | 0.02 |
| CHF	SWATCH GROUP CHF0.45(REGD) | 1 436.00 | 55 813.72 | -0.01 |
| CHF	SWISS LIFE HLDG CHF5.1(REGD) | 870.00 | 305 545.96 | 0.03 |
| CHF	SWISS PRIME SITE CHF15.3 (REGD) | 1 948.00 | 181 275.32 | 0.02 |
| CHF	SWISSCOM AG CHF1(REGD) | 635.00 | 330 355.99 | 0.03 |
| CHF	TEMENOS AG CHF5 (REGD) | 1 682.00 | 256 843.34 | 0.02 |
| CHF	UBS GROUP CHF0.10 (REGD) | 99 504.00 | 1 066 817.11 | 0.10 |
| CHF	ZURICH INSURANCE GRP CHF0.10 | 3 832.00 | 1 234 520.66 | 0.11 |
| Total Switzerland |  | 26 210 665.13 | 2.40 |

UBS (Lux) Strategy SICAV – Systematic Allocation Portfolio Defensive (USD) Annual report and audited financial statements as of 31 May 2020
| Description | Quantity/ | Valuation in USD | as a % |
| --- | --- | --- | --- |
|  | Nominal | Unrealized gain | of net |
|  |  | (loss) on Futures/ | assets |
|  |  | Forward |  |
|  |  | Exchange Contracts/ |  |
|  |  | Swaps (Note 1) |  |

United States
| CAD | BAUSCH HEALTH COMP COM NPV | 5 641.00 | 103 498.59 | 0.01 |
| --- | --- | --- | --- | --- |
| CAD | OVINTIV INC COM USD0.01 | 2 830.00 | 21 252.64 | 0.00 |
| Total United States |  | 124 751.23 | 0.01 |
| Total Registered shares |  | 67 038 050.94 | 6.15 |
| Depository receipts |  |  |  |
| Luxembourg |  |  |  |
| EUR	SES S.A. FDR EACH REP 1 'A' NPV | 5 068.00 | 37 511.19 | 0.00 |
| Total Luxembourg |  | 37 511.19 | 0.00 |
| The Netherlands |  |  |  |
| EUR	ABN AMRO BANK N.V. DR EACH REP SHS | 6 021.00 | 48 288.68 | 0.01 |
| Total The Netherlands |  | 48 288.68 | 0.01 |
| Total Depository receipts |  | 85 799.87 | 0.01 |
| Certificates on investment funds |  |  |  |
| Ireland |  |  |  |
| USD	STAR COMPASS PLC/UBS DYNMC DIVERSIFIED LTD NOTE DUE 31.03.21 | 33 350 000.00 | 48 911 110.00 | 4.49 |
| Total Ireland |  | 48 911 110.00 | 4.49 |
| Total Certificates on investment funds |  | 48 911 110.00 | 4.49 |
| Investment funds, closed end |  |  |  |
| Canada |  |  |  |
| CAD	RIOCAN REAL ESTATE INVESTMENT TRUST	3 301.00 | 34 772.51 | 0.00 |
| Total Canada | 34 772.51 | 0.00 |
| Total Investment funds, closed end | 34 772.51 | 0.00 |
| Notes, fixed rate |
| USD |  |  |  |  |
| USD | 3M CO 2.25000% 16-19.09.26 | 1 150 000.00 | 1 228 914.50 | 0.11 |
| USD | ABU DHABI,GOVERNMENT OF-REG-S 3.12500% 17-11.10.27 | 4 475 000.00 | 4 799 437.50 | 0.44 |
| USD | ALBERTA, PROVINCE OF 3.30000% 18-15.03.28 | 2 800 000.00 | 3 228 136.52 | 0.30 |
| USD | ALPHABET INC 1.99800% 16-15.08.26 | 4 150 000.00 | 4 489 213.95 | 0.41 |
| USD | AMERICAN EXPRESS CO 3.40000% 18-27.02.23 | 1 000 000.00 | 1 065 758.20 | 0.10 |
| USD | APPLE INC 1.65000% 20-11.05.30 | 1 789 000.00 | 1 815 188.99 | 0.17 |
| USD | APPLE INC 2.20000% 19-11.09.29 | 3 300 000.00 | 3 542 425.26 | 0.33 |
| USD | APPLE INC 2.40000% 13-03.05.23 | 3 475 000.00 | 3 678 004.29 | 0.34 |
| USD | APPLE INC 2.45000% 16-04.08.26 | 3 075 000.00 | 3 351 944.95 | 0.31 |
| USD | APPLE INC 2.85000% 16-23.02.23 | 750 000.00 | 796 734.75 | 0.07 |
| USD | APPLE INC 3.20000% 17-11.05.27 | 2 350 000.00 | 2 651 767.03 | 0.24 |
| USD | ASIAN DEVELOPMENT BANK 2.62500% 19-30.01.24 | 1 000 000.00 | 1 080 790.00 | 0.10 |
| USD | BANK OF NOVA SCOTIA 2.00000% 19-15.11.22 | 1 410 000.00 | 1 448 888.64 | 0.13 |
| USD | BAYER US FINANCE II LLC-REG-S 3.87500% 18-15.12.23 | 1 000 000.00 | 1 078 594.00 | 0.10 |
| USD | BERKSHIRE HATHAWAY INC 2.20000% 16-15.03.21 | 950 000.00 | 962 105.47 | 0.09 |
| USD | BERKSHIRE HATHAWAY INC 3.12500% 16-15.03.26 | 1 075 000.00 | 1 201 873.22 | 0.11 |
| USD | BRITISH COLUMBIA, PROVINCE OF 1.75000% 19-27.09.24 | 500 000.00 | 523 235.00 | 0.05 |
| USD | CHEVRON CORP 2.23600% 20-11.05.30 | 2 571 000.00 | 2 701 300.85 | 0.25 |
| USD | CHEVRON CORP 2.41900% 15-17.11.20 | 1 200 000.00 | 1 208 591.40 | 0.11 |
| USD | CHEVRON CORP 3.19100% 13-24.06.23 | 2 150 000.00 | 2 311 051.98 | 0.21 |
| USD | COMMONWEALTH BANK OF AUSTRALIA-REG-S 3.90000% 18-16.03.28 | 1 000 000.00 | 1 130 250.00 | 0.10 |
| USD | COMMONWEALTH BANK OF AUSTRALIA-REG-S 3.35000% 19-04.06.24 | 500 000.00 | 539 775.00 | 0.05 |
| USD | CORPORACION ANDINA DE FOMENTO 4.37500% 12-15.06.22 | 1 150 000.00 | 1 203 199.00 | 0.11 |
| USD | COUNCIL OF EUROPE DEVELOPMENT BANK 1.62500% 16-16.03.21 | 400 000.00 | 403 719.56 | 0.04 |
| USD | DEXIA CREDIT LOCAL SA-REG-S 2.50000% 18-25.01.21 | 1 000 000.00 | 1 012 929.70 | 0.09 |
| USD | EQUINOR ASA 3.62500% 18-10.09.28 | 4 000 000.00 | 4 528 232.40 | 0.42 |
| USD | EUROPEAN INVESTMENT BANK 2.00000% 16-15.03.21 | 1 500 000.00 | 1 518 840.00 | 0.14 |
| USD | EUROPEAN INVESTMENT BANK 2.37500% 17-24.05.27 | 4 000 000.00 | 4 455 467.99 | 0.41 |
| USD | EXPORT DEVELOPMENT CANADA 2.00000% 17-17.05.22 | 200 000.00 | 206 495.84 | 0.02 |
| USD | EXPORT-IMPORT BANK OF KOREA 2.50000% 15-10.05.21 | 800 000.00 | 812 500.00 | 0.07 |
| USD | EXPORT-IMPORT BANK OF KOREA 3.25000% 15-10.11.25 | 1 200 000.00 | 1 331 250.00 | 0.12 |
| USD | EXPORT-IMPORT BANK OF KOREA 2.75000% 17-25.01.22 | 2 775 000.00 | 2 853 046.87 | 0.26 |
| USD | EXXON MOBIL CORP 3.04300% 16-01.03.26 | 4 050 000.00 | 4 486 320.27 | 0.41 |
| USD | EXXON MOBIL CORP 3.48200% 20-19.03.30 | 1 500 000.00 | 1 696 372.65 | 0.16 |
| USD | HSBC BANK PLC-REG-S 4.12500% 10-12.08.20 | 500 000.00 | 503 528.90 | 0.05 |
| USD | INTER-AMERICAN DEVELOPMENT BANK 2.37500% 17-07.07.27 | 900 000.00 | 1 002 065.94 | 0.09 |
| USD | INTER-AMERICAN DEVELOPMENT BANK 2.25000% 19-18.06.29 | 2 450 000.00 | 2 739 545.65 | 0.25 |
| USD | INTER-AMERICAN DEVELOPMENT BANK 2.00000% 19-23.07.26 | 2 300 000.00 | 2 481 794.76 | 0.23 |
| USD | INTERNATIONAL BUSINESS MACHINES CORP 2.85000% 19-13.05.22 | 700 000.00 | 731 935.89 | 0.07 |
| USD | INTL BK FOR RECONSTR & DEVT WORLD BANK 2.12500% 17-13.12.21 | 900 000.00 | 924 668.46 | 0.08 |
| USD | INTL BK FOR RECONSTR & DEVT WORLD BANK 1.75000% 19-23.10.29 | 1 900 000.00 | 2 050 366.00 | 0.19 |
| USD | JOHNSON & JOHNSON 2.45000% 16-01.03.26 | 2 075 000.00 | 2 269 635.21 | 0.21 |
| USD | JOHNSON & JOHNSON 2.90000% 17-15.01.28 | 1 000 000.00 | 1 124 445.90 | 0.10 |
| USD | JOHNSON & JOHNSON 3.37500% 13-05.12.23 | 775 000.00 | 857 794.80 | 0.08 |
| USD | KOREA DEVELOPMENT BANK 2.75000% 17-19.03.23 | 850 000.00 | 890 640.62 | 0.08 |
| USD | KOREA EAST-WEST POWER CO LTD-REG-S 3.87500% 18-19.07.23 | 1 360 000.00 | 1 473 475.00 | 0.14 |
| USD | KOREA HYDRO&NUCLEAR POWER CO LTD-REG-S 3.00000% 12-19.09.22 | 1 150 000.00 | 1 196 718.75 | 0.11 |
| USD | KOREA HYDRO&NUCLEAR POWER CO LTD-REG-S 3.12500% 17-25.07.27 | 2 575 000.00 | 2 760 078.13 | 0.25 |
| USD | KOREA SOUTH-EAST POWER CO LTD-REG-S 2.12500% 20-03.02.25 | 800 000.00 | 827 304.00 | 0.08 |
| USD | KREDITANSTALT FUER WIEDERAUFBAU 2.12500% 13-17.01.23 | 625 000.00 | 654 590.87 | 0.06 |
| USD | KREDITANSTALT FUER WIEDERAUFBAU 2.00000% 15-02.05.25 | 1 075 000.00 | 1 152 862.25 | 0.11 |
| USD | KREDITANSTALT FUER WIEDERAUFBAU 1.62500% 16-15.03.21 | 1 000 000.00 | 1 010 643.40 | 0.09 |
| USD | KUWAIT INTERNATIONAL GOVT BOND-REG-S 3.50000% 17-20.03.27 | 4 400 000.00 | 4 851 000.00 | 0.45 |
| USD | LANDWIRTSCHAFTLICHE RENTENBANK 2.00000% 15-13.01.25 | 3 200 000.00 | 3 415 392.00 | 0.31 |
| USD | MANITOBA, PROVINCE OF 2.12500% 17-04.05.22 | 1 300 000.00 | 1 337 492.00 | 0.12 |
| USD | MICROSOFT CORP 2.65000% 15-03.11.22 | 2 950 000.00 | 3 107 400.20 | 0.29 |

UBS (Lux) Strategy SICAV – Systematic Allocation Portfolio Defensive (USD) Annual report and audited financial statements as of 31 May 2020
|  | Description | Quantity/ | Valuation in USD | as a % |
| --- | --- | --- | --- | --- |
|  |  | Nominal | Unrealized gain | of net |
|  |  |  | (loss) on Futures/ | assets |
|  |  |  | Forward |  |
|  |  |  | Exchange Contracts/ |  |
|  |  |  | Swaps (Note 1) |  |
|  |  |  |  |  |
| USD | MICROSOFT CORP 2.87500% 17-06.02.24 | 2 575 000.00 | 2 789 459.39 | 0.26 |
| USD | MICROSOFT CORP 3.30000% 17-06.02.27 | 6 475 000.00 | 7 436 538.15 | 0.68 |
| USD | NATIONAL AUSTRALIA BANK LTD/NY 2.50000% 16-12.07.26 | 2 300 000.00 | 2 420 290.00 | 0.22 |
| USD | NEW YORK LIFE GLOBAL FUNDING-REG-S 3.00000% 18-10.01.28 | 1 900 000.00 | 2 081 586.04 | 0.19 |
| USD | NORDIC INVESTMENT BANK 2.25000% 14-30.09.21 | 450 000.00 | 461 277.00 | 0.04 |
| USD | NOVARTIS CAPITAL CORP 2.40000% 12-21.09.22 | 1 700 000.00 | 1 774 461.02 | 0.16 |
| USD | NOVARTIS CAPITAL CORP 3.10000% 17-17.05.27 | 2 600 000.00 | 2 903 758.52 | 0.27 |
| USD | NOVARTIS CAPITAL CORP 2.20000% 20-14.08.30 | 1 500 000.00 | 1 585 526.40 | 0.15 |
| USD | QATAR, STATE OF-REG-S 2.37500% 16-02.06.21 | 3 250 000.00 | 3 283 515.63 | 0.30 |
| USD | QATAR, STATE OF-REG-S 3.37500% 19-14.03.24 | 1 000 000.00 | 1 062 812.50 | 0.10 |
| USD | QATAR, STATE OF-REG-S 4.00000% 19-14.03.29 | 3 300 000.00 | 3 720 750.00 | 0.34 |
| USD | QUEBEC, PROVINCE OF 2.50000% 16-20.04.26 | 4 125 000.00 | 4 504 334.99 | 0.41 |
| USD | ROCHE HOLDINGS INC-REG-S 3.62500% 18-17.09.28 | 2 000 000.00 | 2 337 635.40 | 0.21 |
| USD | SANOFI 4.00000% 11-29.03.21 | 1 500 000.00 | 1 544 886.60 | 0.14 |
| USD | SHELL INTERNATIONAL FINANCE BV 2.25000% 12-06.01.23 | 600 000.00 | 625 566.06 | 0.06 |
| USD | SHELL INTERNATIONAL FINANCE BV 1.87500% 16-10.05.21 | 450 000.00 | 455 890.64 | 0.04 |
| USD | SHELL INTERNATIONAL FINANCE BV 2.87500% 16-10.05.26 | 1 675 000.00 | 1 826 668.40 | 0.17 |
| USD | SINOPEC GROUP OVERSEAS DEV 2013-REG-S 4.37500% 13-17.10.23 | 250 000.00 | 271 972.50 | 0.02 |
| USD | STATE STREET CORP 2.40000% 20-24.01.30 | 872 000.00 | 926 102.28 | 0.08 |
| USD | TOTAL CAPITAL INTERNATIONAL SA 3.70000% 13-15.01.24 | 650 000.00 | 714 405.25 | 0.07 |
| USD | VISA INC 3.15000% 15-14.12.25 | 2 675 000.00 | 3 005 474.59 | 0.28 |
| USD | WALMART INC 2.55000% 13-11.04.23 | 1 375 000.00 | 1 448 656.14 | 0.13 |
| USD | WALMART INC 3.70000% 18-26.06.28 | 5 000 000.00 | 5 916 341.00 | 0.54 |
| USD | WESTPAC BANKING CORP 2.85000% 16-13.05.26 | 2 500 000.00 | 2 682 250.00 | 0.25 |
| USD | WESTPAC BANKING CORP 3.35000% 17-08.03.27 | 1 000 000.00 | 1 108 120.00 | 0.10 |
| Total USD |  |  | 163 594 013.01 | 15.02 |
| Total Notes, fixed rate |  | 163 594 013.01 | 15.02 |
| Medium term notes, fixed rate |  |  |  |
| USD |  |  |  |
| USD	AFRICAN DEVELOPMENT BANK 2.37500% 14-23.09.21 | 925 000.00 | 949 133.25 | 0.09 |
| USD	ASB FINANCE LTD-REG-S 2.12500% 16-01.09.21 | 700 000.00 | 701 815.45 | 0.06 |
| USD	ASIAN DEVELOPMENT BANK 2.62500% 17-12.01.27 | 1 550 000.00 | 1 740 224.37 | 0.16 |
| USD	ASIAN DEVELOPMENT BANK 2.00000% 17-16.02.22 | 800 000.00 | 822 808.00 | 0.08 |
| USD	ASIAN DEVELOPMENT BANK 2.50000% 17-02.11.27 | 2 900 000.00 | 3 264 624.54 | 0.30 |
| USD	ASIAN DEVELOPMENT BANK 1.75000% 19-19.09.29 | 2 000 000.00 | 2 149 823.60 | 0.20 |
| USD	BANK OF AMERICA CORP 3.24800% 16-21.10.27 | 2 300 000.00 | 2 513 650.68 | 0.23 |
| USD	BANK OF MONTREAL 1.90000% 16-27.08.21 | 750 000.00 | 762 829.50 | 0.07 |
| USD	CAISSE D'AMOR DE LA DETTE SOCIALE-REG-S 3.37500% 14-20.03.24 | 650 000.00 | 719 693.00 | 0.07 |
| USD	CLIFFORD CAPITAL PTE LTD-REG-S 1.73300% 19-10.09.24 | 1 200 000.00 | 1 223 004.00 | 0.11 |
| USD	COMMONWEALTH BANK OF AUSTRALIA-REG-S 3.15000% 17-19.09.27 | 625 000.00 | 673 200.00 | 0.06 |
| USD	CPPIB CAPITAL INC-REG-S 2.75000% 17-02.11.27 | 3 125 000.00 | 3 507 104.38 | 0.32 |
| USD	FINNVERA OYJ-REG-S 1.87500% 17-05.10.20 | 800 000.00 | 803 832.00 | 0.07 |
| USD	IDB TRUST SERVICES LTD-REG-S 2.26100% 17-26.09.22 | 1 800 000.00 | 1 856 575.44 | 0.17 |
| USD	INTERNATIONAL FINANCE CORP 2.12500% 16-07.04.26 | 1 000 000.00 | 1 088 030.00 | 0.10 |
| USD	INTL BK FOR RECONSTR & DEVT WORLD BANK 2.50000% 17-22.11.27 | 3 195 000.00 | 3 607 825.95 | 0.33 |
| USD	JAPAN TOBACCO INC-REG-S 2.80000% 16-13.04.26 | 1 800 000.00 | 1 887 840.00 | 0.17 |
| USD	KOMMUNEKREDIT-REG-S 1.62500% 16-01.06.21 | 425 000.00 | 430 136.55 | 0.04 |
| USD	KOREA DEVELOPMENT BANK 1.75000% 20-18.02.25 | 375 000.00 | 384 909.93 | 0.03 |
| USD	LANDESKREDITBANK B-WUERTT FOERDBK-REG-S 1.37500% 16-21.07.21 | 475 000.00 | 480 150.90 | 0.04 |
| USD	MACQUARIE GROUP LTD-REG-S 6.25000% 11-14.01.21 | 800 000.00 | 822 848.00 | 0.08 |
| USD	MDGH - GMTN BV-REG-S 3.00000% 17-19.04.24 | 1 000 000.00 | 1 042 500.00 | 0.10 |
| USD	MUNICIPALITY FINANCE PLC-REG-S 1.87500% 17-18.09.20 | 425 000.00 | 426 717.00 | 0.04 |
| USD	NEDERLANDSE WATERSCHAPSBK NV-REG-S 3.00000% 18-21.12.21 | 425 000.00 | 441 984.70 | 0.04 |
| USD	NESTLE HOLDINGS INC-REG-S 1.87500% 16-09.03.21 | 800 000.00 | 805 520.00 | 0.07 |
| USD	NESTLE HOLDINGS INC-REG-S 2.37500% 17-18.01.22 | 650 000.00 | 668 353.73 | 0.06 |
| USD	NESTLE HOLDINGS INC-REG-S 3.12500% 18-22.03.23 | 1 330 000.00 | 1 413 031.90 | 0.13 |
| USD	NISSAN MOTOR ACCEPTANCE CORP-REG-S 2.60000% 17-28.09.22 | 400 000.00 | 370 271.60 | 0.03 |
| USD	NORDRHEIN-WESTFALEN, STATE OF-REG-S 2.25000% 15-16.04.25 | 700 000.00 | 753 684.40 | 0.07 |
| USD	SAUDI GOVERNMENT INTERNATIONAL BD-REG-S 2.50000% 20-03.02.27 | 1 700 000.00 | 1 710 200.00 | 0.16 |
| USD	SP POWERASSETS LTD-REG-S 3.25000% 15-24.11.25 | 1 000 000.00 | 1 087 350.00 | 0.10 |
| USD	SUMITOMO MITSUI BANKING CORP-REG-S 2.44000% 19-18.06.24 | 586 000.00 | 606 920.20 | 0.06 |
| USD	SVENSK EXPORTKREDIT AB 1.75000% 16-10.03.21 | 400 000.00 | 404 312.92 | 0.04 |
| USD	TOYOTA MOTOR CREDIT CORP 2.60000% 17-11.01.22 | 1 225 000.00 | 1 257 119.99 | 0.12 |
| USD	TOYOTA MOTOR FINANCE NL BV-REG-S 2.76400% 19-26.04.21 | 600 000.00 | 604 185.48 | 0.05 |
| Total USD |  | 41 982 211.46 | 3.85 |
| Total Medium term notes, fixed rate |  | 41 982 211.46 | 3.85 |
| Bonds, fixed rate |  |  |  |
| USD |  |  |  |
| USD	BNG BANK NV-REG-S 2.62500% 14-28.04.21 | 550 000.00 | 560 493.45 | 0.05 |
| USD	BNG BANK NV-REG-S 2.37500% 16-16.03.26 | 1 000 000.00 | 1 090 835.81 | 0.10 |
| USD	CAISSE D'AMORTIS DE LA DETTE SOC-REG-S 1.87500% 15-12.02.22 | 550 000.00 | 563 678.50 | 0.05 |
| USD	CANADIAN IMPERIAL BANK OF COM/CAN-REG-S 2.35000% 17-27.07.22 | 875 000.00 | 901 434.72 | 0.08 |
| USD	CENTRAL JAPAN RAILWAY CO-REG-S 3.40000% 18-06.09.23 | 1 400 000.00 | 1 482 266.38 | 0.14 |
| USD	DBS BANK LTD-REG-S 3.30000% 18-27.11.21 | 420 000.00 | 436 668.83 | 0.04 |
| USD	DNB BOLIGKREDITT AS-REG-S 2.50000% 17-28.03.22 | 750 000.00 | 774 397.50 | 0.07 |
| USD	EUROPEAN INVESTMENT BANK 1.87500% 15-10.02.25 | 3 250 000.00 | 3 460 322.44 | 0.32 |
| USD	FAB SUKUK CO LTD-REG-S 3.87500% 19-22.01.24 | 1 100 000.00 | 1 167 375.00 | 0.11 |
| USD	FMS WERTMANAGEMENT 2.00000% 17-01.08.22 | 475 000.00 | 491 861.98 | 0.04 |
| USD	ING BANK NV-REG-S 2.62500% 12-05.12.22 | 300 000.00 | 314 166.99 | 0.03 |
| USD	INTL BK FOR RECONSTR & DEVT WORLD BANK 2.50000% 14-25.11.24 | 625 000.00 | 680 993.75 | 0.06 |
| USD	INTL BK FOR RECONSTR & DEVT WORLD BANK 2.50000% 15-29.07.25 | 3 500 000.00 | 3 847 200.00 | 0.35 |
| USD	KOREA GAS CORP-REG-S 2.87500% 19-16.07.29 | 1 600 000.00 | 1 718 000.00 | 0.16 |
| USD	KOREA NATIONAL OIL CORP-REG-S 3.25000% 14-10.07.24 | 1 550 000.00 | 1 663 343.75 | 0.15 |
| USD	KOREA, REPUBLIC OF 3.87500% 13-11.09.23 | 1 100 000.00 | 1 202 093.75 | 0.11 |
| USD	KREDITANSTALT FUER WIEDERAUFBAU 2.50000% 14-20.11.24 | 1 250 000.00 | 1 362 482.13 | 0.13 |
| USD	MORGAN STANLEY 5.50000% 10-24.07.20 | 653 000.00 | 657 655.89 | 0.06 |
| USD	NATIONWIDE BUILDING SOCIETY-REG-S 1.70000% 20-13.02.23 | 1 283 000.00 | 1 312 810.63 | 0.12 |
| USD	NOVARTIS CAPITAL CORP 3.40000% 14-06.05.24 | 450 000.00 | 495 861.62 | 0.05 |
| USD	OESTERREICHISCHE KONTROLLBANK AG 2.37500% 14-01.10.21 | 450 000.00 | 462 238.78 | 0.04 |
| USD	ONTARIO, PROVINCE OF 3.20000% 14-16.05.24 | 2 000 000.00 | 2 192 880.20 | 0.20 |

UBS (Lux) Strategy SICAV – Systematic Allocation Portfolio Defensive (USD) Annual report and audited financial statements as of 31 May 2020
|  | Description | Quantity/ | Valuation in USD | as a % |
| --- | --- | --- | --- | --- |
|  | Nominal | Unrealized gain | of net |
|  |  | (loss) on Futures/ | assets |
|  |  | Forward |  |
|  |  | Exchange Contracts/ |  |
|  |  | Swaps (Note 1) |  |
|  |  |  |  |  |
| USD | ONTARIO, PROVINCE OF 2.50000% 16-27.04.26 | 2 800 000.00 | 3 051 888.00 | 0.28 |
| USD | ROYAL BANK OF CANADA 2.10000% 15-14.10.20 | 625 000.00 | 628 727.75 | 0.06 |
| USD | ROYAL BANK OF CANADA-REG-S 3.35000% 18-22.10.21 | 800 000.00 | 829 720.08 | 0.08 |
| USD | SWEDBANK AB-REG-S 2.80000% 17-14.03.22 | 400 000.00 | 412 621.60 | 0.04 |
| Total USD |  |  | 31 762 019.53 | 2.92 |
| Total Bonds, fixed rate |  | 31 762 019.53 | 2.92 |
| Treasury notes, fixed rate |  |  |  |
| USD |  |  |  |
| USD	AMERICA, UNITED STATES OF 6.75000% 96-15.08.26 | 936 000.00 | 1 299 760.30 | 0.12 |
| USD	AMERICA, UNITED STATES OF 2.62500% 19-15.02.29 | 12 578 000.00 | 14 755 074.45 | 1.36 |
| USD	AMERICA, UNITED STATES OF 1.50000% 15-31.01.22 | 575 000.00 | 587 623.03 | 0.05 |
| USD	AMERICA, UNITED STATES OF 2.25000% 17-15.02.27 | 6 650 000.00 | 7 431 375.00 | 0.68 |
| USD	AMERICA, UNITED STATES OF 1.75000% 13-15.05.23 | 501 000.00 | 523 936.38 | 0.05 |
| USD	AMERICA, UNITED STATES OF 0.62500% 20-15.05.30 | 1 000.00 | 997.85 | 0.00 |
| Total USD |  | 24 598 767.01 | 2.26 |
| Total Treasury notes, fixed rate |  | 24 598 767.01 | 2.26 |
| Treasury notes, floating rate |  |  |  |
| USD |  |  |  |
| USD	AMERICA, UNITED STATES OF 3.875%/CPI LINKED 99-15.04.29 | 2 780 000.00 | 6 043 954.55 | 0.56 |
| USD	AMERICA, UNITED STATES OF 2.375%/CPI LINKED 04-15.01.25 | 2 345 000.00 | 3 634 704.27 | 0.33 |
| USD	AMERICA, UNITED STATES OF 0.625%/CPI LINKED 14-15.01.24 | 2 771 000.00 | 3 176 666.76 | 0.29 |
| USD	AMERICA, UNITED STATES OF 0.625%/CPI LINKED 16-15.01.26 | 3 238 000.00 | 3 737 078.59 | 0.34 |
| USD	AMERICA, UNITED STATES OF 1.125%/CPI LINKED 11-15.01.21 | 1 013 000.00 | 1 194 994.76 | 0.11 |
| USD	AMERICA, UNITED STATES OF 0.125%/CPI LINKED 12-15.01.22 | 814 000.00 | 930 497.04 | 0.09 |
| USD	AMERICA, UNITED STATES OF 0.125%/CPI LINKED 13-15.01.23 | 1 922 000.00 | 2 170 520.52 | 0.20 |
| USD	AMERICA, UNITED STATES OF 0.375%/CPI LINKED 17-15.01.27 | 4 281 000.00 | 4 839 441.03 | 0.44 |
| USD	AMERICA, UNITED STATES OF 0.375%/CPI INDEX 13-15.07.23 | 684 000.00 | 778 617.00 | 0.07 |
| USD	AMERICA, UNITED STATES OF 0.375%/CPI LINKED 15-15.07.25 | 3 086 000.00 | 3 518 911.05 | 0.32 |
| USD	AMERICA, UNITED STATES OF 0.750%/CPI LINKED 18-15.07.28 | 5 209 000.00 | 5 923 033.35 | 0.55 |
| Total USD |  | 35 948 418.92 | 3.30 |
| Total Treasury notes, floating rate |  | 35 948 418.92 | 3.30 |
| Total Transferable securities and money market instruments listed on an official stock exchange |  | 460 078 542.71 | 42.23 |
| Transferable securities and money market instruments traded on another regulated market |  |  |  |
| Treasury bills, zero coupon |  |  |  |
| USD |  |  |  |
| USD	AMERICA, UNITED STATES OF TB 0.00000% 26.03.20-24.09.20 | 10 000.00 | 9 994.65 | 0.00 |
| USD	AMERICA, UNITED STATES OF TB 0.00000% 07.11.19-05.11.20 | 10 000.00 | 9 992.70 | 0.00 |
| Total USD |  | 19 987.35 | 0.00 |
| Total Treasury bills, zero coupon |  | 19 987.35 | 0.00 |
| Notes, fixed rate |  |  |  |
| USD |  |  |  |
| USD	ALTRIA GROUP INC 2.85000% 12-09.08.22 | 1 000 000.00 | 1 038 071.00 | 0.10 |
| USD	FANNIE MAE 2.12500% 16-24.04.26 | 1 625 000.00 | 1 766 333.08 | 0.16 |
| USD	HSBC HOLDINGS PLC 4.87500% 11-14.01.22 | 1 025 000.00 | 1 086 639.40 | 0.10 |
| USD	MASSMUTUAL GLOBAL FUNDING II-REG-S 2.45000% 15-23.11.20 | 850 000.00 | 858 549.64 | 0.08 |
| USD	NATIONAL AUSTRALIA BANK LTD NEW YORK 2.87500% 18-12.04.23 | 500 000.00 | 521 692.95 | 0.05 |
| USD	NATIONAL AUSTRALIA BANK LTD-144A 3.50000% 17-10.01.27 | 2 000 000.00 | 2 193 080.00 | 0.20 |
| USD	NEW YORK LIFE GLOBAL FUNDING-REG-S 1.95000% 17-28.09.20 | 800 000.00 | 803 941.68 | 0.07 |
| USD	PROCTER & GAMBLE CO 2.30000% 12-06.02.22 | 625 000.00 | 649 480.75 | 0.06 |
| Total USD |  | 8 917 788.50 | 0.82 |
| Total Notes, fixed rate |  | 8 917 788.50 | 0.82 |
| Medium term notes, fixed rate |  |  |  |
| USD |  |  |  |
| USD	GOLDMAN SACHS GROUP INC/THE 3.85000% 14-08.07.24 | 1 000 000.00 | 1 087 873.90 | 0.10 |
| USD	GUARDIAN LIFE GLOBAL FUNDING-REG-S 2.00000% 16-26.04.21 | 1 400 000.00 | 1 419 106.78 | 0.13 |
| Total USD |  | 2 506 980.68 | 0.23 |
| Total Medium term notes, fixed rate |  | 2 506 980.68 | 0.23 |
| Medium term notes, zero coupon |  |  |  |
| USD |  |  |  |
| USD	INTL BK FOR RECONSTR & DEVT WORLD BANK 0.00000% 00-01.05.30 | 1 400 000.00 | 1 211 682.57 | 0.11 |
| Total USD |  | 1 211 682.57 | 0.11 |
| Total Medium term notes, zero coupon |  | 1 211 682.57 | 0.11 |
| Bonds, fixed rate |  |  |  |
| USD |  |  |  |
| USD	COMMONWEALTH BANK OF AUSTRALIA-REG-S 1.62500% 19-17.10.22 | 750 000.00 | 766 018.27 | 0.07 |
| Total USD |  | 766 018.27 | 0.07 |
| Total Bonds, fixed rate |  | 766 018.27 | 0.07 |

UBS (Lux) Strategy SICAV – Systematic Allocation Portfolio Defensive (USD) Annual report and audited financial statements as of 31 May 2020
| Description | Quantity/ | Valuation in USD | as a % |
| --- | --- | --- | --- |
|  | Nominal | Unrealized gain | of net |
|  |  | (loss) on Futures/ | assets |
|  |  | Forward |  |
|  |  | Exchange Contracts/ |  |
|  |  | Swaps (Note 1) |  |
| Treasury notes, floating rate |  |  |  |
| USD |  |  |  |
| USD	AMERICA, UNITED STATES OF 0.250%/CPI LINKED 15-15.01.25 | 3 127 000.00 | 3 518 319.04 | 0.32 |
| USD	AMERICA, UNITED STATES OF 0.125%/CPI LINKED 16-15.04.21 | 1 760 000.00 | 1 905 125.87 | 0.18 |
| USD	AMERICA, UNITED STATES OF 0.125%/CPI LINKED 12-15.07.22 | 756 000.00 | 857 442.14 | 0.08 |
| Total USD |  | 6 280 887.05 | 0.58 |
| Total Treasury notes, floating rate |  | 6 280 887.05 | 0.58 |
| Total Transferable securities and money market instruments traded on another regulated market |  | 19 703 344.42 | 1.81 |

Transferable securities and money market instruments not listed on an official stock exchange and not traded on another regulated market
Rights
| Italy |  |
| --- | --- |
| EUR | DAVIDE CAMPARI-MILANO SPA RIGHTS 21.06.20 | 7 969.00 | 0.00 | 0.00 |
| Total Italy |  | 0.00 | 0.00 |
| Total Rights |  | 0.00 | 0.00 |
| Notes, fixed rate |  |  |  |
| USD |  |  |  |
| USD	MASSMUTUAL GLOBAL FUNDING II-REG-S 2.95000% 18-11.01.25 | 1 100 000.00 | 1 180 821.29 | 0.11 |
| USD	SVENSKA HANDELSBANKEN AB 1.95000% 17-08.09.20 | 500 000.00 | 502 017.50 | 0.04 |
| USD	US BANK NA/CINCINNATI OH 2.65000% 19-23.05.22 | 900 000.00 | 935 060.31 | 0.09 |
| Total USD |  | 2 617 899.10 | 0.24 |
| Total Notes, fixed rate |  | 2 617 899.10 | 0.24 |
| Bonds, fixed rate |  |  |  |
| USD |  |  |  |
| USD	HSBC BANK CANADA-REG-S 3.30000% 18-28.11.21 | 1 300 000.00 | 1 348 297.73 | 0.12 |
| USD	HSBC BANK CANADA-REG-S 1.65000% 19-10.09.22 | 600 000.00 | 611 790.30 | 0.06 |
| USD	MASSMUTUAL GLOBAL FUNDING II-REG-S 2.75000% 17-22.06.24 | 800 000.00 | 853 398.16 | 0.08 |
| Total USD |  | 2 813 486.19 | 0.26 |
| Total Bonds, fixed rate | 2 813 486.19 | 0.26 |
| Total Transferable securities and money market instruments not listed on an official stock exchange and not traded on another regulated market | 5 431 385.29 | 0.50 |
| UCITS/Other UCIs in accordance with Article 41 (1) e) of the amended Luxembourg law of 17 December 2010 |  |  |
| Investment funds, open end |  |  |
| Ireland |  |  |
| USD	MAN FUNDS VI PLC-MAN AHL TARGETRISK-INU-USD-CAP	118 712.81 | 14 864 030.69 | 1.37 |
| USD	UBS ETFS PLC - MSCI USA TRN INDEX SF (USD) A-ACC	857 904.00 | 70 742 763.84 | 6.49 |
| Total Ireland | 85 606 794.53 | 7.86 |
| Luxembourg |  |  |
| EUR | ALMA PLATINUM IV UBS MULTI-STRATEGY ALTERNATIVES-I0C-E-CAP | 4 033.03 | 43 900 309.26 | 4.03 |
| USD | AQR UCITS FUNDS - GLOBAL RISK PARITY UCITS FUND-A2-CAP | 128 732.88 | 14 593 159.28 | 1.34 |
| USD | INVESCO FUNDS SICAV BAL RISK ALLOCATION-PI1-USD HDG-CAP | 1 320 867.21 | 14 648 417.38 | 1.34 |
| USD | UBS (LUX) BOND FUND-EURO HIGH YIELD (EUR)(USD HEDGED) F-ACC | 244 662.00 | 26 783 149.14 | 2.46 |
| USD | UBS (LUX) BOND SICAV - SHORT TERM USD CORPORATES (USD) F-ACC | 240 628.00 | 26 935 898.32 | 2.47 |
| USD | UBS (LUX) BOND SICAV - USD CORPORATES (USD) F-ACC | 800 623.00 | 17 437 568.94 | 1.60 |
| USD | UBS (LUX) BOND SICAV - USD HIGH YIELD (USD) F-ACC | 126 994.00 | 39 617 048.24 | 3.64 |
| USD | UBS (LUX) BOND SICAV USD - INVEST GRADE CORP USD F ACC | 1 739.08 | 195 165 699.82 | 17.91 |
| USD | UBS (LUX) BOND SICAV - EMERG ECON CORPORATES (USD) F-ACC | 322 641.00 | 36 051 905.34 | 3.31 |
| USD | UBS (LUX) EMERGING ECONOMIES FUND - GLOBAL BONDS (USD) F-ACC | 28 504.00 | 54 113 418.80 | 4.97 |
| USD | UBS (LUX) MONEY MARKET FUND - USD U-X-ACC | 9.00 | 100 778.94 | 0.01 |
| Total Luxembourg | 469 347 353.46 | 43.08 |
| Total Investment funds, open end | 554 954 147.99 | 50.94 |
| Total UCITS/Other UCIs in accordance with Article 41 (1) e) of the amended Luxembourg law of 17 December 2010 | 554 954 147.99 | 50.94 |
| Total investments in securities | 1 040 167 420.41 | 95.48 |

| Derivative instruments |  |
| --- | --- |
| Derivative instruments listed on an official stock exchange |
| Financial Futures on bonds |
|  |  |  |  |
| USD	US 2YR TREASURY NOTE FUTURE 30.09.20 | 770.00 | 84 217.98 | 0.01 |
| USD	US 5YR TREASURY NOTE FUTURE 30.09.20 | 325.00 | 104 101.40 | 0.01 |
| Total Financial Futures on bonds |  | 188 319.38 | 0.02 |

UBS (Lux) Strategy SICAV – Systematic Allocation Portfolio Defensive (USD) Annual report and audited financial statements as of 31 May 2020
| Description | Quantity/ Nominal | Valuation in USD Unrealized gain (loss) on Futures/ Forward Exchange Contracts/ Swaps (Note 1) | as a % of net assets |
| --- | --- | --- | --- |
| Financial Futures on Indices |  |  |  |
|  |  |  |  |
| EUR	EURO STOXX 50 INDEX FUTURE 19.06.20 | -1 716.00 | -13 557 566.52 | -1.24 |
| CHF	SWISS MARKET INDEX FUTURE 19.06.20 | -332.00 | -7 806 278.75 | -0.72 |
| GBP	FTSE 100 INDEX FUTURE 19.06.20 | 1.00 | 14 075.28 | 0.00 |
| SGD	MSCI SINGAPORE INDEX FUTURE 29.06.20 | 1.00 | -173.34 | 0.00 |
| USD	S&P500 EMINI FUTURE 19.06.20 | -464.00 | -8 311 916.67 | -0.76 |
| USD	MINI MSCI EMERGING MARKETS INDEX FUTURE 19.06.20 | 1.00 | 6 935.00 | 0.00 |
| AUD	SPI 200 INDEX FUTURES 18.06.20 | 1.00 | 15 151.23 | 0.00 |
| JPY	TOPIX INDX FUTURE 11.06.20 | -1.00 | -22 536.78 | 0.00 |
| HKD	HANG SENG INDEX FUTURE 29.06.20 | 1.00 | -1 389.19 | 0.00 |
| CAD	S&P/TSX 60 INDEX FUTURE 18.06.20 | -169.00 | -2 465 443.01 | -0.23 |
| Total Financial Futures on Indices |  | -32 129 142.75 | -2.95 |
| Total Derivative instruments listed on an official stock exchange |  | -31 940 823.37 | -2.93 |
| Total Derivative instruments |  | -31 940 823.37 | -2.93 |
| Forward Foreign Exchange contracts |  |  |  |
| Forward Foreign Exchange contracts (Purchase/Sale) |  |  |  |

| USD | 462 451.10 | CAD | 650 000.00 | 24.6.2020 | -7 820.93 | 0.00 |
| --- | --- | --- | --- | --- | --- | --- |
| USD | 206 536.25 | CHF | 200 000.00 | 24.6.2020 | -1 786.96 | 0.00 |
| USD | 12 275 893.35 | CAD | 17 360 000.00 | 24.6.2020 | -283 987.20 | -0.03 |
| USD | 841 686.65 | JPY | 90 500 000.00 | 24.6.2020 | 1 386.41 | 0.00 |
| USD | 190 283.10 | AUD | 300 000.00 | 24.6.2020 | -8 860.52 | 0.00 |
| USD | 70 112.02 | SGD | 100 000.00 | 24.6.2020 | -643.58 | 0.00 |
| GBP | 1 030 000.00 | USD | 1 273 120.17 | 24.6.2020 | 394.57 | 0.00 |
| HKD | 1 650 000.00 | USD | 212 759.21 | 24.6.2020 | 12.25 | 0.00 |
| USD | 45 541 752.40 | EUR | 41 864 000.00 | 24.6.2020 | -1 047 539.60 | -0.10 |
| USD | 14 879 382.90 | CHF | 14 390 000.00 | 24.6.2020 | -109 471.79 | -0.01 |
| USD | 286 870.17 | CAD | 400 000.00 | 24.6.2020 | -2 528.00 | 0.00 |
| USD | 257 261.99 | CHF | 250 000.00 | 24.6.2020 | -3 142.02 | 0.00 |
| USD | 586 497.78 | EUR | 540 000.00 | 24.6.2020 | -14 453.34 | 0.00 |
| USD | 735 504.98 | EUR | 675 000.00 | 24.6.2020 | -15 683.92 | 0.00 |
| USD | 360 464.54 | CAD | 500 000.00 | 24.6.2020 | -1 283.17 | 0.00 |
| USD | 103 931.52 | CHF | 100 000.00 | 24.6.2020 | -230.08 | 0.00 |
| USD | 922 161.86 | EUR | 850 000.00 | 24.6.2020 | -23 779.72 | 0.00 |
| USD | 2 058 876.69 | GBP | 1 667 000.00 | 22.7.2020 | -2 474.26 | 0.00 |
| USD | 982 536.00 | JPY | 105 500 000.00 | 22.7.2020 | 2 528.89 | 0.00 |
| USD | 272 624.94 | AUD | 420 000.00 | 22.7.2020 | -6 171.58 | 0.00 |
| USD | 13 542 437.92 | CAD | 18 971 000.00 | 22.7.2020 | -183 063.57 | -0.02 |
| USD | 1 076 400.04 | HKD | 8 350 000.00 | 22.7.2020 | 430.17 | 0.00 |
| USD | 70 603.02 | SGD | 100 000.00 | 22.7.2020 | -159.89 | 0.00 |
| USD | 17 625 023.45 | CHF | 17 098 000.00 | 22.7.2020 | -199 242.31 | -0.02 |
| USD | 59 519 630.84 | EUR | 54 933 000.00 | 22.7.2020 | -1 650 410.52 | -0.15 |
| USD | 103 163.93 | CHF | 100 000.00 | 24.6.2020 | -997.67 | 0.00 |
| USD | 103 250.75 | CHF | 100 000.00 | 22.7.2020 | -996.91 | 0.00 |
| SGD | 31 956 800.00 | USD | 22 403 342.61 | 23.6.2020 | 207 674.08 | 0.02 |
| EUR | 234 550 000.00 | USD | 253 500 467.25 | 23.6.2020 | 7 507 930.20 | 0.69 |
| GBP | 18 269 400.00 | USD | 22 132 132.13 | 23.6.2020 | 456 260.51 | 0.04 |
| CHF | 155 332 400.00 | USD | 159 875 913.59 | 23.6.2020 | 1 907 323.19 | 0.17 |
| EUR | 4 534 100.00 | USD | 4 926 086.55 | 23.6.2020 | 119 482.30 | 0.01 |
| USD | 555 095.47 | CHF | 538 900.00 | 23.6.2020 | -6 184.64 | 0.00 |
| USD | 737 080.06 | EUR | 673 600.00 | 23.6.2020 | -12 505.34 | 0.00 |
| USD | 103 059.21 | CHF | 100 000.00 | 24.6.2020 | -1 102.39 | 0.00 |
| USD | 103 144.14 | CHF | 100 000.00 | 22.7.2020 | -1 103.52 | 0.00 |
| USD | 792 789.80 | EUR | 727 200.00 | 23.6.2020 | -16 441.95 | 0.00 |
| CAD | 800 000.00 | USD | 576 564.53 | 24.6.2020 | 2 231.81 | 0.00 |
| CAD | 700 000.00 | USD | 504 506.32 | 22.7.2020 | 1 943.05 | 0.00 |
| USD | 103 446.21 | CHF | 100 000.00 | 24.6.2020 | -715.39 | 0.00 |
| USD | 103 531.99 | CHF | 100 000.00 | 22.7.2020 | -715.67 | 0.00 |
| CHF | 3 561 200.00 | USD | 3 686 775.25 | 23.6.2020 | 22 318.69 | 0.00 |
| EUR | 4 395 000.00 | USD | 4 831 091.68 | 23.6.2020 | 59 686.01 | 0.01 |
| USD | 678 095.31 | EUR | 615 000.00 | 24.6.2020 | -6 321.24 | 0.00 |
| USD | 678 500.60 | EUR | 615 000.00 | 22.7.2020 | -6 325.92 | 0.00 |
| USD | 156 007.70 | CHF | 150 000.00 | 22.7.2020 | -363.80 | 0.00 |
| USD | 155 878.00 | CHF | 150 000.00 | 24.6.2020 | -364.40 | 0.00 |
| USD | 432 320.56 | CHF | 415 700.00 | 23.6.2020 | -643.15 | 0.00 |
| Total Forward Foreign Exchange contracts (Purchase/Sale) | 6 672 087.18 | 0.61 |
|  |  |  |
| Cash at banks, deposits on demand and deposit accounts and other liquid assets | 74 583 320.36 | 6.85 |
| Bank overdraft and other short-term liabilities | -4 650.56 | 0.00 |
| Other assets and liabilities | -23 457.29 | -0.01 |
| Total net assets | 1 089 453 896.73 | 100.00 |

UBS (Lux) Strategy SICAV – Systematic Allocation Portfolio Defensive (USD) Annual report and audited financial statements as of 31 May 2020

Translation (ENDE, 2020-05-31):
# UBS (Lux) Strategy SICAV
– Systematic Allocation Portfolio Defensive (USD)
| Dreijahresvergleich |  |
| --- | --- |
|  | ISIN | 31.5.2020 | 31.5.2019 | 31.5.2018 |
| Nettovermögen in USD |  | 1 089 453 896.73 | 1 087 131 873.23 | 922 334 114.59 |
| Klasse K-1-acc | LU1622990858 |  |  |  |
| Aktien im Umlauf |  | 5.5000 | 4.5000 | 2.0000 |
| Nettoinventarwert pro Aktie in USD |  | 5 336 764.81 | 5 272 284.33 | 5 085 305.72 |
| Ausgabe- und Rücknahmepreis pro Aktie in USD 1 |  | 5 296 739.07 | 5 282 828.90 | 5 085 305.72 |
| Klasse (CHF hedged) K-1-acc 2 | LU1622991070 |  |  |  |
| Aktien im Umlauf |  | 0.9000 | - | - |
| Nettoinventarwert pro Aktie in CHF |  | 4 846 836.21 | - | - |
| Ausgabe- und Rücknahmepreis pro Aktie in CHF 1 |  | 4 810 484.94 | - | - |
| Klasse (EUR hedged) K-1-acc | LU1622990932 |  |  |  |
| Aktien im Umlauf |  | 0.7000 | 0.8000 | 0.8000 |
| Nettoinventarwert pro Aktie in EUR |  | 2 990 826.89 | 3 028 310.04 | 3 007 798.84 |
| Ausgabe- und Rücknahmepreis pro Aktie in EUR 1 |  | 2 968 395.69 | 3 034 366.66 | 3 007 798.84 |
| Klasse (EUR hedged) K-X-acc | LU1675059452 |  |  |  |
| Aktien im Umlauf |  | 97 177.2680 | 97 177.2680 | 97 177.2680 |
| Nettoinventarwert pro Aktie in EUR |  | 100.82 | 101.16 | 99.58 |
| Ausgabe- und Rücknahmepreis pro Aktie in EUR 1 |  | 100.06 | 101.36 | 99.58 |
| Klasse P-4%-mdist | LU1599185995 |  |  |  |
| Aktien im Umlauf |  | 1 160 320.1380 | 1 487 647.4150 | 1 343 570.0780 |
| Nettoinventarwert pro Aktie in USD |  | 95.04 | 98.09 | 98.84 |
| Ausgabe- und Rücknahmepreis pro Aktie in USD 1 |  | 94.33 | 98.29 | 98.84 |
| Klasse (HKD) P-4%-mdist | LU1647379343 |  |  |  |
| Aktien im Umlauf |  | 321 698.0890 | 396 435.4180 | 314 488.2810 |
| Nettoinventarwert pro Aktie in HKD |  | 938.76 | 980.48 | 988.89 |
| Ausgabe- und Rücknahmepreis pro Aktie in HKD 1 |  | 931.72 | 982.44 | 988.89 |
| Klasse P-acc | LU1599185649 |  |  |  |
| Aktien im Umlauf |  | 3 251 483.0880 | 3 109 847.0700 | 2 735 914.9920 |
| Nettoinventarwert pro Aktie in USD |  | 106.66 | 105.81 | 102.49 |
| Ausgabe- und Rücknahmepreis pro Aktie in USD 1 |  | 105.86 | 106.02 | 102.49 |
| Klasse (CHF hedged) P-acc | LU1599186027 |  |  |  |
| Aktien im Umlauf |  | 1 248 563.1140 | 1 234 744.5730 | 838 924.0190 |
| Nettoinventarwert pro Aktie in CHF |  | 97.69 | 99.79 | 99.92 |
| Ausgabe- und Rücknahmepreis pro Aktie in CHF 1 |  | 96.96 | 99.99 | 99.92 |
| Klasse (EUR hedged) P-acc | LU1599186530 |  |  |  |
| Aktien im Umlauf |  | 1 500 071.3610 | 1 500 380.0560 | 1 291 511.1050 |
| Nettoinventarwert pro Aktie in EUR |  | 98.91 | 100.58 | 100.32 |
| Ausgabe- und Rücknahmepreis pro Aktie in EUR 1 |  | 98.17 | 100.78 | 100.32 |
| Klasse (GBP hedged) P-acc | LU1616912249 |  |  |  |
| Aktien im Umlauf |  | 150 416.4500 | 86 928.3810 | 75 508.3240 |
| Nettoinventarwert pro Aktie in GBP |  | 101.71 | 102.43 | 100.99 |
| Ausgabe- und Rücknahmepreis pro Aktie in GBP 1 |  | 100.95 | 102.63 | 100.99 |
| Klasse (SGD hedged) P-acc | LU1599186704 |  |  |  |
| Aktien im Umlauf |  | 123 715.4990 | 233 599.3200 | 179 284.1640 |
| Nettoinventarwert pro Aktie in SGD |  | 104.79 | 104.49 | 101.90 |
| Ausgabe- und Rücknahmepreis pro Aktie in SGD 1 |  | 104.00 | 104.70 | 101.90 |
| Klasse (SGD hedged) P-mdist | LU1637863462 |  |  |  |
| Aktien im Umlauf |  | 115 912.0640 | 144 058.7600 | 153 896.8190 |
| Nettoinventarwert pro Aktie in SGD |  | 97.41 | 99.46 | 99.75 |
| Ausgabe- und Rücknahmepreis pro Aktie in SGD 1 |  | 96.68 | 99.66 | 99.75 |
| Klasse Q-4%-mdist 3 | LU1891428200 |  |  |  |
| Aktien im Umlauf |  | 126 701.3320 | 58 760.4920 | - |
| Nettoinventarwert pro Aktie in USD |  | 100.18 | 102.72 | - |
| Ausgabe- und Rücknahmepreis pro Aktie in USD 1 |  | 99.43 | 102.93 | - |
| Klasse Q-acc | LU1599185722 |  |  |  |
| Aktien im Umlauf |  | 639 067.7000 | 532 963.4070 | 330 736.7880 |
| Nettoinventarwert pro Aktie in USD |  | 108.72 | 107.17 | 103.14 |
| Ausgabe- und Rücknahmepreis pro Aktie in USD 1 |  | 107.90 | 107.38 | 103.14 |
| Klasse (CHF hedged) Q-acc | LU1599186373 |  |  |  |
| Aktien im Umlauf |  | 327 612.5350 | 357 201.8680 | 302 962.0460 |
| Nettoinventarwert pro Aktie in CHF |  | 99.58 | 101.08 | 100.56 |
| Ausgabe- und Rücknahmepreis pro Aktie in CHF 1 |  | 98.83 | 101.28 | 100.56 |

UBS (Lux) Strategy SICAV – Systematic Allocation Portfolio Defensive (USD) Jahresbericht und geprüfter Jahresabschluss per 31. Mai 2020
|  | ISIN | 31.5.2020 | 31.5.2019 | 31.5.2018 |
| --- | --- | --- | --- | --- |
|  |  |  |  |  |
| Klasse (EUR hedged) Q-acc | LU1599186613 |  |  |  |
| Aktien im Umlauf |  | 820 601.8210 | 814 208.9740 | 841 185.0910 |
| Nettoinventarwert pro Aktie in EUR |  | 100.83 | 101.88 | 100.97 |
| Ausgabe- und Rücknahmepreis pro Aktie in EUR 1 |  | 100.07 | 102.08 | 100.97 |
| Klasse (GBP hedged) Q-acc | LU1616912322 |  |  |  |
| Aktien im Umlauf |  | 32 626.0070 | 21 692.1930 | 23 337.7420 |
| Nettoinventarwert pro Aktie in GBP |  | 103.16 | 103.23 | 101.13 |
| Ausgabe- und Rücknahmepreis pro Aktie in GBP 1 |  | 102.39 | 103.44 | 101.13 |
| Klasse (SEK hedged) Q-acc 4 | LU1599186886 |  |  |  |
| Aktien im Umlauf |  | - | 11 805.6020 | 77 310.0900 |
| Nettoinventarwert pro Aktie in SEK |  | - | 697.68 | 690.19 |
| Ausgabe- und Rücknahmepreis pro Aktie in SEK 1 |  | - | 699.08 | 690.19 |
| Klasse (SGD hedged) Q-mdist 5 | LU2038507948 |  |  |  |
| Aktien im Umlauf | 85 603.8240 |  | - | - |
| Nettoinventarwert pro Aktie in SGD | 97.41 |  | - | - |
| Ausgabe- und Rücknahmepreis pro Aktie in SGD 1 | 96.68 |  | - | - |
| 1  Siehe Erläuterung 1 2  Erste NAV 4.11.2019 3  Erste NAV 5.11.2018 4  Für die Periode vom 21.12.2017 bis zum 23.4.2020 war die Aktienklasse (SEK hedged) Q-acc im Umlauf 5  Erste NAV 19.8.2019 |  |  |  |  |
| Performance |  |  |  |  |
|  | Währung | 2019/2020 | 2018/2019 | 2017/2018 |
| Klasse K-1-acc | USD | 0.3% | 3.9% | - |
| Klasse (CHF hedged) K-1-acc 1 | CHF | - | - | - |
| Klasse (EUR hedged) K-1-acc | EUR | -2.2% | 0.9% | - |
| Klasse (EUR hedged) K-X-acc | EUR | -1.3% | 1.8% | - |
| Klasse P-4%-mdist | USD | -0.2% | 3.5% | 2.5% |
| Klasse (HKD) P-4%-mdist | HKD | -1.3% | 3.4% | - |
| Klasse P-acc | USD | -0.2% | 3.4% | 2.5% |
| Klasse (CHF hedged) P-acc | CHF | -3.0% | 0.1% | -0.1% |
| Klasse (EUR hedged) P-acc | EUR | -2.6% | 0.5% | 0.3% |
| Klasse (GBP hedged) P-acc | GBP | -1.6% | 1.6% | - |
| Klasse (SGD hedged) P-acc | SGD | -0.7% | 2.7% | 1.9% |
| Klasse (SGD hedged) P-mdist | SGD | -0.7% | 2.7% | - |
| Klasse Q-4%-mdist | USD | 0.5% | - | - |
| Klasse Q-acc | USD | 0.5% | 4.1% | 3.1% |
| Klasse (CHF hedged) Q-acc | CHF | -2.4% | 0.7% | 0.6% |
| Klasse (EUR hedged) Q-acc | EUR | -2.0% | 1.1% | 1.0% |
| Klasse (GBP hedged) Q-acc | GBP | -1.0% | 2.3% | - |
| Klasse (SEK hedged) Q-acc2 | SEK | - | 1.3% | - |
| Klasse (SGD hedged) Q-mdist 1 | SGD | - | - | - |
| 1  Auf Grund der Neulancierung liegen keine Daten für die Berechnung der Performance vor. |  |  |  |  |

2 
Für die Periode vom 21.12.2017 bis zum 23.4.2020 war die Aktienklasse (SEK hedged) Q-acc im Umlauf. Auf Grund dessen liegen keine Daten für die Berechnung der Performance im Jahr 2020 vor. Die historische Performance stellt keinen Indikator für die laufende oder zukünftige Performance dar.
Die Performancedaten lassen die bei der Ausgabe und Rücknahme der Aktien erhobenen Kommissionen und Kosten unberücksichtigt. Die Performancedaten sind ungeprüft.
Der Subfonds verfügt über keine Benchmark.
UBS (Lux) Strategy SICAV – Systematic Allocation Portfolio Defensive (USD) Jahresbericht und geprüfter Jahresabschluss per 31. Mai 2020

## Bericht des Portfolio Managers
Das Rechnungsjahr vom 1. Juni 2019 bis zum 31. Mai 2020 war zunächst vom reichlichen Angebot an Zent- ralbankliquidität und der Markterwartung anhaltend niedriger Zinssätze geprägt. Vor diesem Hintergrund erzielten sowohl traditionelle defensive als auch risikorei- chere Anlagen positive relative Erträge.
Im März, etwa zwei Wochen vor der Talsohle an den Aktienmärkten, verringerte die Strategie das Risiko in zwei Schritten. Trotz einer Erholung ab April 2020 gene- rierte der Subfonds im Rechnungsjahr einen negativen Ertrag in fast allen Anteilsklassen.
Die bedeutendste Entwicklung seit dem Jahresende war der Ausbruch von Covid-19, die zunächst in China auf- trat, aber mittlerweile die meisten Kontinente erfasst hat. Derzeit ist es nicht möglich, abzuschätzen, wie dieses neu entstehende Risiko die Unternehmen in unserem Portfo- lio genau beeinflussen wird. Doch die Besorgnis über die Auswirkungen auf die Weltwirtschaft nimmt zu. An den Finanzmärkten ist es in den letzten Wochen zu bedeuten- den Korrekturen gekommen. Der Verwaltungsrat und die Manager behalten die Bemühungen der Regierungen zur Eindämmung der Virusausbreitung aufmerksam im Auge und beobachten die möglichen wirtschaftlichen Auswir- kungen auf die Unternehmen in unserem Portfolio.

## Struktur des Wertpapierbestandes
Geographische Aufteilung in % des Nettovermögens	
Luxemburg	43.98
| Vereinigte Staaten | 17.05 |
| --- | --- |
| Irland | 12.45 |
| Kanada | 4.31 |
| Schweiz | 3.11 |
| Deutschland | 2.34 |
| Frankreich | 2.19 |
| Südkorea | 1.57 |
| Niederlande | 1.27 |
| Australien | 0.91 |
| Philippinen | 0.83 |
| Katar | 0.74 |
| Norwegen | 0.49 |
| Kuwait | 0.45 |
| Vereinigte Arabische Emirate | 0.44 |
| Japan | 0.42 |
| Spanien | 0.40 |
| Grossbritannien | 0.38 |
| Supranational | 0.34 |
| Italien | 0.33 |
| Finnland | 0.29 |
| Singapur | 0.25 |
| Jersey | 0.17 |
| Saudiarabia | 0.16 |
| Belgien | 0.15 |
| Schweden | 0.12 |
| Cayman-Inseln | 0.11 |
| Österreich | 0.07 |
| Neuseeland | 0.06 |
| Dänemark | 0.04 |
| Portugal | 0.03 |
| Britische Jungferninseln | 0.03 |
| Total | 95.48 |

Wirtschaftliche Aufteilung in % des Nettovermögens	
| Anlagefonds | 50.94 |
| --- | --- |
| Finanz- & Beteiligungsgesellschaften | 8.51 |
| Länder- & Zentralregierungen | 7.59 |
| Banken & Kreditinstitute | 5.40 |
| Supranationale Organisationen | 3.78 |
| Internet, Software & IT-Dienste | 2.25 |
| Erdöl | 2.07 |
| Pharmazeutik, Kosmetik & medizinische Produkte | 2.06 |
| Kantone, Bundesstaaten | 1.87 |
| Computer & Netzwerkausrüster | 1.54 |
| Nahrungsmittel & Softdrinks | 0.94 |
| Detailhandel, Warenhäuser | 0.93 |
| Diverse Dienstleistungen | 0.87 |
| Energie- & Wasserversorgung | 0.81 |
| Chemie | 0.61 |
| Versicherungen | 0.58 |
| Verkehr & Transport | 0.42 |
| Tabak & alkoholische Getränke | 0.41 |
| Telekommunikation | 0.37 |
| Öffentlich-rechtliche Körperschaften | 0.36 |
| Elektronik & Halbleiter | 0.35 |
| Diverse Konsumgüter | 0.31 |
| Textilien, Kleidung & Lederwaren | 0.28 |
| Baugewerbe & Baumaterial | 0.26 |
| Biotechnologie | 0.24 |
| Elektrische Geräte & Komponenten | 0.23 |
| Fahrzeuge | 0.22 |
| Immobilien | 0.20 |
| Pfandbriefinstitute & Refinanzierungsgesellschaften | 0.16 |
| Edelmetalle und -steine | 0.13 |
| Maschinen & Apparate | 0.12 |
| Diverse Investitionsgüter | 0.11 |
| Bergbau, Kohle & Stahl | 0.11 |
| Flugzeug- & Raumfahrtindustrie | 0.09 |
| Uhren & Schmuck | 0.09 |
| Grafisches Gewerbe, Verlage & Medien | 0.06 |
| Forstwirtschaft, Holz & Papier | 0.04 |
| Gummi & Reifen | 0.04 |
| Landwirtschaft & Fischerei | 0.03 |
| Gastgewerbe & Freizeit | 0.03 |
| Diverse nicht klassierte Gesellschaften | 0.03 |
| Nichteisenmetalle | 0.03 |
| Gesundheits- & Sozialwesen | 0.01 |
| Total | 95.48 |

UBS (Lux) Strategy SICAV – Systematic Allocation Portfolio Defensive (USD) Jahresbericht und geprüfter Jahresabschluss per 31. Mai 2020

## Nettovermögensaufstellung
Aktiva	31.5.2020
USD
Wertpapierbestand, Einstandswert	998 363 837.40
| Wertpapierbestand, nicht realisierte Werterhöhung (-minderung) | 	41 803 583.01	 |
| --- | --- |
| Total Wertpapierbestand (Erläuterung 1) | 1 040 167 420.41 |
| Bankguthaben, Sicht- und Fristgelder | 22 410 093.53 |
| Andere liquide Mittel (Margins) | 52 173 226.83 |
| Forderungen aus Wertpapierverkäufen (Erläuterung 1) | 1 061 958.88 |
| Forderungen aus Zeichnungen | 751 148.89 |
| Zinsforderungen aus Wertpapieren | 1 771 642.38 |
| Forderungen aus Dividenden | 91 679.27 |
| Sonstige Forderungen | 138 980.19 |
| Nicht realisierter Kursgewinn (-verlust) aus Finanzterminkontrakten (Erläuterung 1) | -31 940 823.37 |
| Nicht realisierter Kursgewinn (-verlust) aus Devisenterminkontrakten (Erläuterung 1) | 6 672 087.18 |
| Total Aktiva | 1 093 297 414.19 |
|  |  |
| Passiva |  |
| Kontokorrentkredit | -4 650.56 |
| Verbindlichkeiten aus Wertpapierkäufen (Erläuterung 1) | -1 774 284.39 |
| Verbindlichkeiten aus Rücknahmen | -1 396 777.43 |
| Rückstellungen für pauschale Verwaltungskommission (Erläuterung 2) | -492 902.34 |
| Rückstellungen für Abonnementsabgabe (Erläuterung 3) | -49 379.38 |
| Rückstellungen für sonstige Kommissionen und Gebühren (Erläuterung 2) | 	-125 523.36	 |
| Total Rückstellungen für Aufwendungen | -667 805.08 |
| Total Passiva | -3 843 517.46 |
|  |  |
| Nettovermögen am Ende des Geschäftsjahres | 1 089 453 896.73 |
| Ertrags- und Aufwandsrechnung | USD |
| Erträge | 1.6.2019-31.5.2020 |
| Zinsertrag auf liquide Mittel | 286 417.07 |
| Zinsen auf Wertpapiere | 8 700 461.25 |
| Dividenden | 2 473 159.77 |
| Erträge aus Securities Lending (Erläuterung 15) | 252 711.98 |
| Sonstige Erträge (Erläuterung 4) | 616 425.19 |
| Total Erträge | 12 329 175.26 |
|  |  |
| Aufwendungen |  |
| Kosten aus Securities Lending (Erläuterung 15) | -101 084.79 |
| Pauschale Verwaltungskommission (Erläuterung 2) | -13 673 845.17 |
| Abonnementsabgabe (Erläuterung 3) | -333 771.87 |
| Sonstige Kommissionen und Gebühren (Erläuterung 2) | -238 548.38 |
| Zinsaufwand auf liquide Mittel und Kontokorrentkredit | -53 908.56 |
| Total Aufwendungen | -14 401 158.77 |
|  |  |
| Nettoerträge (-verluste) aus Anlagen | -2 071 983.51 |
|  |  |
| Realisierte Gewinne (Verluste) (Erläuterung 1) |  |
| Realisierter Kursgewinn (-verlust) aus marktbewerteten Wertpapieren ausser Optionen | 29 064 843.20 |
| Realisierter Kursgewinn (-verlust) aus renditebewerteten Wertpapieren und Geldmarktinstrumenten | 46 768.12 |
| Realisierter Kursgewinn (-verlust) aus Finanzterminkontrakten | -8 180 127.98 |
| Realisierter Kursgewinn (-verlust) aus Devisenterminkontrakten | -22 076 993.92 |
| Realisierter Währungsgewinn (-verlust) | 14 817 177.17 |
| Total der realisierten Gewinne (Verluste) | 13 671 666.59 |
|  |  |
| Realisierter Nettogewinn (-verlust) des Geschäftsjahres | 11 599 683.08 |
|  |  |
| Veränderungen der nicht realisierten Werterhöhung (-minderung) (Erläuterung 1) |  |
| Nicht realisierte Werterhöhung (-minderung) marktbewerteter Wertpapiere ausser Optionen | 15 312 316.96 |
| Nicht realisierte Werterhöhung (-minderung) renditebewerteter Wertpapiere und Geldmarktinstrumente | 31 365.76 |
| Nicht realisierte Werterhöhung (-minderung) von Finanzterminkontrakten | -29 845 135.63 |
| Nicht realisierte Werterhöhung (-minderung) von Devisenterminkontrakten | 3 640 926.34 |
| Total der Veränderungen der nicht realisierten Werterhöhung (-minderung) | -10 860 526.57 |
|  |  |
| Nettoerhöhung (-minderung) des Nettovermögens infolge Geschäftstätigkeit | 739 156.51 |

UBS (Lux) Strategy SICAV – Systematic Allocation Portfolio Defensive (USD) Jahresbericht und geprüfter Jahresabschluss per 31. Mai 2020
| Veränderungen des Nettovermögens |  |
| --- | --- |
|  | USD |
|  | 1.6.2019-31.5.2020 |
| Nettovermögen zu Beginn des Geschäftsjahres | 1 087 131 873.23 |
| Zeichnungen | 415 240 337.00 |
| Rücknahmen | 	-405 224 596.43	 |
| Total Mittelzufluss (-abfluss) | 10 015 740.57 |
| Ausbezahlte Dividende | -8 432 873.58 |
| Nettoerträge (-verluste) aus Anlagen | -2 071 983.51 |
| Total der realisierten Gewinne (Verluste) | 13 671 666.59 |
| Total der Veränderungen der nicht realisierten Werterhöhung (-minderung) | 	-10 860 526.57	 |
| Nettoerhöhung (-minderung) des Nettovermögens infolge Geschäftstätigkeit | 739 156.51 |
| Nettovermögen am Ende des Geschäftsjahres | 1 089 453 896.73 |
| Entwicklung der Aktien im Umlauf |  |
|  | 1.6.2019-31.5.2020 |
| Klasse | K-1-acc |
| Anzahl der Aktien im Umlauf zu Beginn des Geschäftsjahres | 4.5000 |
| Anzahl der ausgegebenen Aktien | 2.0000 |
| Anzahl der zurückgegebenen Aktien | -1.0000 |
| Anzahl der Aktien im Umlauf am Ende des Geschäftsjahres | 5.5000 |
| Klasse | (CHF hedged) K-1-acc |
| Anzahl der Aktien im Umlauf zu Beginn des Geschäftsjahres | 0.0000 |
| Anzahl der ausgegebenen Aktien | 0.9000 |
| Anzahl der zurückgegebenen Aktien | 0.0000 |
| Anzahl der Aktien im Umlauf am Ende des Geschäftsjahres | 0.9000 |
| Klasse | (EUR hedged) K-1-acc |
| Anzahl der Aktien im Umlauf zu Beginn des Geschäftsjahres | 0.8000 |
| Anzahl der ausgegebenen Aktien | 0.4000 |
| Anzahl der zurückgegebenen Aktien | -0.5000 |
| Anzahl der Aktien im Umlauf am Ende des Geschäftsjahres | 0.7000 |
| Klasse | (EUR hedged) K-X-acc |
| Anzahl der Aktien im Umlauf zu Beginn des Geschäftsjahres | 97 177.2680 |
| Anzahl der ausgegebenen Aktien | 0.0000 |
| Anzahl der zurückgegebenen Aktien | 0.0000 |
| Anzahl der Aktien im Umlauf am Ende des Geschäftsjahres | 97 177.2680 |
| Klasse | P-4%-mdist |
| Anzahl der Aktien im Umlauf zu Beginn des Geschäftsjahres | 1 487 647.4150 |
| Anzahl der ausgegebenen Aktien | 688 670.7930 |
| Anzahl der zurückgegebenen Aktien | -1 015 998.0700 |
| Anzahl der Aktien im Umlauf am Ende des Geschäftsjahres | 1 160 320.1380 |
| Klasse | (HKD) P-4%-mdist |
| Anzahl der Aktien im Umlauf zu Beginn des Geschäftsjahres | 396 435.4180 |
| Anzahl der ausgegebenen Aktien | 36 517.2070 |
| Anzahl der zurückgegebenen Aktien | -111 254.5360 |
| Anzahl der Aktien im Umlauf am Ende des Geschäftsjahres | 321 698.0890 |
| Klasse | P-acc |
| Anzahl der Aktien im Umlauf zu Beginn des Geschäftsjahres | 3 109 847.0700 |
| Anzahl der ausgegebenen Aktien | 1 000 495.6370 |
| Anzahl der zurückgegebenen Aktien | -858 859.6190 |
| Anzahl der Aktien im Umlauf am Ende des Geschäftsjahres | 3 251 483.0880 |
| Klasse | (CHF hedged) P-acc |
| Anzahl der Aktien im Umlauf zu Beginn des Geschäftsjahres | 1 234 744.5730 |
| Anzahl der ausgegebenen Aktien | 232 116.6070 |
| Anzahl der zurückgegebenen Aktien | -218 298.0660 |
| Anzahl der Aktien im Umlauf am Ende des Geschäftsjahres | 1 248 563.1140 |
| Klasse | (EUR hedged) P-acc |
| Anzahl der Aktien im Umlauf zu Beginn des Geschäftsjahres | 1 500 380.0560 |
| Anzahl der ausgegebenen Aktien | 614 548.3700 |
| Anzahl der zurückgegebenen Aktien | -614 857.0650 |
| Anzahl der Aktien im Umlauf am Ende des Geschäftsjahres | 1 500 071.3610 |
| Klasse | (GBP hedged) P-acc |
| Anzahl der Aktien im Umlauf zu Beginn des Geschäftsjahres | 86 928.3810 |
| Anzahl der ausgegebenen Aktien | 68 742.0030 |
| Anzahl der zurückgegebenen Aktien | -5 253.9340 |
| Anzahl der Aktien im Umlauf am Ende des Geschäftsjahres | 150 416.4500 |
| Klasse | (SGD hedged) P-acc |
| Anzahl der Aktien im Umlauf zu Beginn des Geschäftsjahres | 233 599.3200 |
| Anzahl der ausgegebenen Aktien | 33 276.9980 |
| Anzahl der zurückgegebenen Aktien | -143 160.8190 |
| Anzahl der Aktien im Umlauf am Ende des Geschäftsjahres | 123 715.4990 |
| Klasse | (SGD hedged) P-mdist |
| Anzahl der Aktien im Umlauf zu Beginn des Geschäftsjahres | 144 058.7600 |
| Anzahl der ausgegebenen Aktien | 31 631.8310 |
| Anzahl der zurückgegebenen Aktien | -59 778.5270 |
| Anzahl der Aktien im Umlauf am Ende des Geschäftsjahres | 115 912.0640 |

UBS (Lux) Strategy SICAV – Systematic Allocation Portfolio Defensive (USD) Jahresbericht und geprüfter Jahresabschluss per 31. Mai 2020
| Klasse | Q-4%-mdist |
| --- | --- |
| Anzahl der Aktien im Umlauf zu Beginn des Geschäftsjahres | 58 760.4920 |
| Anzahl der ausgegebenen Aktien | 117 298.0260 |
| Anzahl der zurückgegebenen Aktien | -49 357.1860 |
| Anzahl der Aktien im Umlauf am Ende des Geschäftsjahres | 126 701.3320 |
| Klasse | Q-acc |
| Anzahl der Aktien im Umlauf zu Beginn des Geschäftsjahres | 532 963.4070 |
| Anzahl der ausgegebenen Aktien | 425 000.0360 |
| Anzahl der zurückgegebenen Aktien | -318 895.7430 |
| Anzahl der Aktien im Umlauf am Ende des Geschäftsjahres | 639 067.7000 |
| Klasse | (CHF hedged) Q-acc |
| Anzahl der Aktien im Umlauf zu Beginn des Geschäftsjahres | 357 201.8680 |
| Anzahl der ausgegebenen Aktien | 59 651.8280 |
| Anzahl der zurückgegebenen Aktien | -89 241.1610 |
| Anzahl der Aktien im Umlauf am Ende des Geschäftsjahres | 327 612.5350 |
| Klasse | (EUR hedged) Q-acc |
| Anzahl der Aktien im Umlauf zu Beginn des Geschäftsjahres | 814 208.9740 |
| Anzahl der ausgegebenen Aktien | 287 964.2610 |
| Anzahl der zurückgegebenen Aktien | -281 571.4140 |
| Anzahl der Aktien im Umlauf am Ende des Geschäftsjahres | 820 601.8210 |
| Klasse | (GBP hedged) Q-acc |
| Anzahl der Aktien im Umlauf zu Beginn des Geschäftsjahres | 21 692.1930 |
| Anzahl der ausgegebenen Aktien | 34 721.1200 |
| Anzahl der zurückgegebenen Aktien | -23 787.3060 |
| Anzahl der Aktien im Umlauf am Ende des Geschäftsjahres | 32 626.0070 |
| Klasse | (SEK hedged) Q-acc |
| Anzahl der Aktien im Umlauf zu Beginn des Geschäftsjahres | 11 805.6020 |
| Anzahl der ausgegebenen Aktien | 876.3150 |
| Anzahl der zurückgegebenen Aktien | -12 681.9170 |
| Anzahl der Aktien im Umlauf am Ende des Geschäftsjahres | 0.0000 |
| Klasse | (SGD hedged) Q-mdist |
| Anzahl der Aktien im Umlauf zu Beginn des Geschäftsjahres | 0.0000 |
| Anzahl der ausgegebenen Aktien | 92 549.5380 |
| Anzahl der zurückgegebenen Aktien | -6 945.7140 |
| Anzahl der Aktien im Umlauf am Ende des Geschäftsjahres | 85 603.8240 |

| Monatliche Ausschüttung 1 |  |
| --- | --- |
| UBS (Lux) Strategy SICAV – Systematic Allocation Portfolio Defensive (USD) | Ex-Date | Pay-Date | Währung | Betrag pro Aktie |
| P-4%-mdist | 11.6.2019 | 14.6.2019 | USD | 0.32 |
| P-4%-mdist | 10.7.2019 | 15.7.2019 | USD | 0.33 |
| P-4%-mdist | 12.8.2019 | 16.8.2019 | USD | 0.33 |
| P-4%-mdist | 10.9.2019 | 13.9.2019 | USD | 0.33 |
| P-4%-mdist | 10.10.2019 | 15.10.2019 | USD | 0.33 |
| P-4%-mdist | 11.11.2019 | 14.11.2019 | USD | 0.33 |
| P-4%-mdist | 10.12.2019 | 13.12.2019 | USD | 0.33 |
| P-4%-mdist | 10.1.2020 | 15.1.2020 | USD | 0.33 |
| P-4%-mdist | 10.2.2020 | 13.2.2020 | USD | 0.33 |
| P-4%-mdist | 10.3.2020 | 13.3.2020 | USD | 0.32 |
| P-4%-mdist | 14.4.2020 | 17.4.2020 | USD | 0.30 |
| P-4%-mdist | 11.5.2020 | 14.5.2020 | USD | 0.31 |
| (HKD) P-4%-mdist | 11.6.2019 | 14.6.2019 | HKD | 3.27 |
| (HKD) P-4%-mdist | 10.7.2019 | 15.7.2019 | HKD | 3.32 |
| (HKD) P-4%-mdist | 12.8.2019 | 16.8.2019 | HKD | 3.32 |
| (HKD) P-4%-mdist | 10.9.2019 | 13.9.2019 | HKD | 3.31 |
| (HKD) P-4%-mdist | 10.10.2019 | 15.10.2019 | HKD | 3.29 |
| (HKD) P-4%-mdist | 11.11.2019 | 14.11.2019 | HKD | 3.29 |
| (HKD) P-4%-mdist | 10.12.2019 | 13.12.2019 | HKD | 3.30 |
| (HKD) P-4%-mdist | 10.1.2020 | 15.1.2020 | HKD | 3.31 |
| (HKD) P-4%-mdist | 10.2.2020 | 13.2.2020 | HKD | 3.31 |
| (HKD) P-4%-mdist | 10.3.2020 | 13.3.2020 | HKD | 3.23 |
| (HKD) P-4%-mdist | 14.4.2020 | 17.4.2020 | HKD | 3.04 |
| (HKD) P-4%-mdist | 11.5.2020 | 14.5.2020 | HKD | 3.09 |
| (SGD hedged) P-mdist | 17.6.2019 | 20.6.2019 | SGD | 0.25 |
| (SGD hedged) P-mdist | 15.7.2019 | 18.7.2019 | SGD | 0.19 |
| (SGD hedged) P-mdist | 16.8.2019 | 21.8.2019 | SGD | 0.19 |
| (SGD hedged) P-mdist | 16.9.2019 | 19.9.2019 | SGD | 0.19 |
| (SGD hedged) P-mdist | 15.10.2019 | 18.10.2019 | SGD | 0.19 |
| (SGD hedged) P-mdist | 15.11.2019 | 20.11.2019 | SGD | 0.19 |
| (SGD hedged) P-mdist | 16.12.2019 | 19.12.2019 | SGD | 0.19 |
| (SGD hedged) P-mdist | 15.1.2020 | 20.1.2020 | SGD | 0.18 |
| (SGD hedged) P-mdist | 17.2.2020 | 20.2.2020 | SGD | 0.18 |
| (SGD hedged) P-mdist | 16.3.2020 | 19.3.2020 | SGD | 0.18 |
| (SGD hedged) P-mdist | 15.4.2020 | 20.4.2020 | SGD | 0.21 |
| (SGD hedged) P-mdist | 15.5.2020 | 20.5.2020 | SGD | 0.23 |
| Q-4%-mdist | 11.6.2019 | 14.6.2019 | USD | 0.34 |
| Q-4%-mdist | 10.7.2019 | 15.7.2019 | USD | 0.34 |
| 1  Siehe Erläuterung 5 |  |  |  |  |

UBS (Lux) Strategy SICAV – Systematic Allocation Portfolio Defensive (USD) Jahresbericht und geprüfter Jahresabschluss per 31. Mai 2020
| UBS (Lux) Strategy SICAV – Systematic Allocation Portfolio Defensive (USD) | Ex-Date | Pay-Date | Währung | Betrag pro Aktie |
| --- | --- | --- | --- | --- |
| Q-4%-mdist | 12.8.2019 | 16.8.2019 | USD | 0.34 |
| Q-4%-mdist | 10.9.2019 | 13.9.2019 | USD | 0.34 |
| Q-4%-mdist | 10.10.2019 | 15.10.2019 | USD | 0.34 |
| Q-4%-mdist | 11.11.2019 | 14.11.2019 | USD | 0.34 |
| Q-4%-mdist | 10.12.2019 | 13.12.2019 | USD | 0.34 |
| Q-4%-mdist | 10.1.2020 | 15.1.2020 | USD | 0.35 |
| Q-4%-mdist | 10.2.2020 | 13.2.2020 | USD | 0.35 |
| Q-4%-mdist | 10.3.2020 | 13.3.2020 | USD | 0.34 |
| Q-4%-mdist | 14.4.2020 | 17.4.2020 | USD | 0.32 |
| Q-4%-mdist | 11.5.2020 | 14.5.2020 | USD | 0.33 |
| (SGD hedged) Q-mdist | 15.10.2019 | 18.10.2019 | SGD | 0.28 |
| (SGD hedged) Q-mdist | 15.11.2019 | 20.11.2019 | SGD | 0.19 |
| (SGD hedged) Q-mdist | 16.12.2019 | 19.12.2019 | SGD | 0.19 |
| (SGD hedged) Q-mdist | 15.1.2020 | 20.1.2020 | SGD | 0.18 |
| (SGD hedged) Q-mdist | 17.2.2020 | 20.2.2020 | SGD | 0.18 |
| (SGD hedged) Q-mdist | 16.3.2020 | 19.3.2020 | SGD | 0.18 |
| (SGD hedged) Q-mdist | 15.4.2020 | 20.4.2020 | SGD | 0.21 |
| (SGD hedged) Q-mdist | 15.5.2020 | 20.5.2020 | SGD | 0.23 |

UBS (Lux) Strategy SICAV – Systematic Allocation Portfolio Defensive (USD) Jahresbericht und geprüfter Jahresabschluss per 31. Mai 2020

## Aufstellung der Wertpapierbestände und anderer Nettovermögenswerte per 31. Mai 2020
| Bezeichnung | Anzahl/ | Bewertung in USD | in % des |
| --- | --- | --- | --- |
|  | Nominal | NR Kursgewinn | Netto- |
|  |  | (-verlust) auf Futures/ | vermögens |
|  |  | Devisentermin- |  |
|  |  | kontrakten/ |  |
|  |  | Swaps (Erl. 1) |  |
| Wertpapiere und Geldmarktinstrumente, die an einer offiziellen Börse gehandelt werden |  |  |  |
| Inhaberaktien |  |  |  |
| Österreich |  |  |  |
| EUR	ANDRITZ AG NPV(BR) | 1 106.00 | 41 508.94 | 0.00 |
| EUR	ERSTE GROUP BK AG NPV | 4 663.00 | 102 518.85 | 0.01 |
| EUR	OMV AG NPV(VAR) | 2 083.00 | 68 861.98 | 0.01 |
| EUR	RAIFFEISEN BK INTL NPV (REGD) | 1 858.00 | 34 183.98 | 0.00 |
| EUR	VERBUND AG CLASS'A'NPV | 1 002.00 | 44 627.57 | 0.01 |
| EUR	VOESTALPINE AG NPV | 1 855.00 | 36 181.89 | 0.00 |
| Total Österreich |  | 327 883.21 | 0.03 |
| Belgien |  |  |  |
| EUR	ANHEUSER-BUSCH IN NPV | 10 988.00 | 512 245.05 | 0.05 |
| EUR	COLRUYT SA NPV | 870.00 | 52 625.95 | 0.01 |
| EUR	ELIA SYS OPERATOR NPV | 47.00 | 5 520.82 | 0.00 |
| EUR	GALAPAGOS NV NPV | 676.00 | 137 869.78 | 0.01 |
| EUR	GPE BRUXELLES LAM NPV | 1 098.00 | 88 817.32 | 0.01 |
| EUR	PROXIMUS SA NPV | 2 156.00 | 45 074.67 | 0.00 |
| EUR	SOFINA NPV | 134.00 | 36 667.51 | 0.00 |
| EUR	SOLVAY SA NPV | 1 054.00 | 80 287.11 | 0.01 |
| EUR	UMICORE NPV | 2 903.00 | 128 649.42 | 0.01 |
| Total Belgien |  | 1 087 757.63 | 0.10 |
| Kanada |  |  |  |
| CAD	AIR CANADA VAR VTG SHS NPV | 2 332.00 | 26 825.93 | 0.00 |
| CAD	ALGONQUIN PWR&UTIL COM NPV | 9 300.00 | 129 723.63 | 0.01 |
| CAD	ALTAGAS LTD COM NPV | 4 947.00 | 52 898.76 | 0.01 |
| CAD	ATCO LTD CL 1 NON VTG | 1 229.00 | 34 508.39 | 0.00 |
| CAD	BOMBARDIER INC CLASS'B'SUB-VTG NPV | 34 857.00 | 11 222.24 | 0.00 |
| CAD	CAE INC COM NPV | 4 749.00 | 70 984.18 | 0.01 |
| CAD	CAMECO CORP COM | 7 141.00 | 77 289.36 | 0.01 |
| CAD	CANADIAN UTILS LTD CL A | 2 162.00 | 51 680.28 | 0.00 |
| CAD	CI FINANCIAL CORP COM NPV | 3 932.00 | 46 426.16 | 0.00 |
| CAD	EMERA INC COM | 4 319.00 | 171 047.65 | 0.02 |
| CAD	EMPIRE LTD CL A | 2 938.00 | 66 233.60 | 0.01 |
| CAD	HUSKY ENERGY INC COM | 6 270.00 | 17 600.64 | 0.00 |
| CAD	HYDRO ONE INC COM NPV | 5 868.00 | 113 267.43 | 0.01 |
| CAD	IGM FINANCIAL INC COM | 1 349.00 | 31 914.56 | 0.00 |
| CAD	KEYERA CORPORATION COM NPV | 3 856.00 | 60 872.46 | 0.01 |
| CAD	KINROSS GOLD CORP COM NPV | 22 153.00 | 143 444.76 | 0.01 |
| CAD	KIRKLAND LAKE GOLD COM NPV | 4 847.00 | 186 031.94 | 0.02 |
| CAD	LUNDIN MINING CORP COM | 11 373.00 | 52 166.71 | 0.01 |
| CAD	METHANEX CORP COM | 434.00 | 7 005.17 | 0.00 |
| CAD	ONEX CORP SUB VTG | 1 438.00 | 67 218.33 | 0.01 |
| CAD	PAN AMER SILVER COM NPV | 251.00 | 7 352.76 | 0.00 |
| CAD	PRAIRIESKY ROYALTY COM NPV | 2 162.00 | 14 202.69 | 0.00 |
| CAD	QUEBECOR INC CL B | 3 572.00 | 78 226.33 | 0.01 |
| CAD	RITCHIE BROS AUCTIONEERS COM | 128.00 | 5 518.39 | 0.00 |
| CAD	TELUS CORPORATION COM NPV | 3.00 | 51.79 | 0.00 |
| CAD	TELUS CORPORATION NPV | 7 132.00 | 122 392.59 | 0.01 |
| CAD	TMX GROUP LTD COM NPV | 57.00 | 5 691.34 | 0.00 |
| CAD	WEST FRASER TIMBER COM NPV | 911.00 | 24 557.85 | 0.00 |
| CAD	WSP GLOBAL INC COM NPV | 1 924.00 | 123 691.68 | 0.01 |
| CAD	YAMANA GOLD INC COM | 1 063.00 | 5 729.53 | 0.00 |
| Total Kanada |  | 1 805 777.13 | 0.17 |
| Finnland |  |  |  |
| EUR	KONE CORPORATION NPV ORD 'B' | 4 980.00 | 333 921.24 | 0.03 |
| EUR	METSO OYJ NPV | 1 771.00 | 57 464.08 | 0.01 |
| EUR	WARTSILA OYJ ABP SER'B'EUR3.50 | 6 144.00 | 48 003.96 | 0.00 |
| Total Finnland |  | 439 389.28 | 0.04 |
| Frankreich |  |  |  |
| EUR	ACCOR EUR3 | 2 571.00 | 72 497.24 | 0.01 |
| EUR	ADP EUR3 | 405.00 | 42 189.49 | 0.00 |
| EUR	AIR LIQUIDE(L') EUR5.5 (POST-SUBDIVISION) | 6 896.00 | 936 600.48 | 0.09 |
| EUR	AIRBUS EUR1 | 8 517.00 | 537 169.28 | 0.05 |
| EUR	ALSTOM EUR7.00 | 2 608.00 | 109 774.17 | 0.01 |
| EUR	AMUNDI EUR2.5 (AIW) | 927.00 | 69 035.39 | 0.01 |
| EUR	ARKEMA EUR10 | 982.00 | 85 594.80 | 0.01 |
| EUR	ATOS SE EUR1 | 1 378.00 | 103 955.74 | 0.01 |
| EUR	AXA EUR2.29 | 26 407.00 | 481 143.28 | 0.04 |
| EUR	BIOMERIEUX NPV (POST SPLIT) | 565.00 | 81 136.48 | 0.01 |
| EUR	BNP PARIBAS EUR2 | 15 868.00 | 569 325.58 | 0.05 |
| EUR	BOLLORE EUR0.16 | 12 078.00 | 34 474.12 | 0.00 |
| EUR	BOUYGUES EUR1 | 3 044.00 | 93 250.26 | 0.01 |
| EUR	BUREAU VERITAS EUR0.12 | 4 280.00 | 87 076.09 | 0.01 |
| EUR	CAPGEMINI EUR8 | 2 360.00 | 241 775.95 | 0.02 |
| EUR	CARREFOUR EUR2.50 | 8 583.00 | 130 368.39 | 0.01 |
| EUR	CASINO GUICH-PERR EUR1.53 | 871.00 | 32 824.87 | 0.00 |
| EUR	CIE DE ST-GOBAIN EUR4 | 7 410.00 | 239 609.87 | 0.02 |
| EUR	CNP ASSURANCES EUR1 | 2 290.00 | 24 084.55 | 0.00 |
| EUR	COVIVIO EUR3 | 829.00 | 48 550.57 | 0.00 |
| EUR	CREDIT AGRICOLE SA EUR3 | 15 954.00 | 138 848.09 | 0.01 |
| EUR	DANONE EUR0.25 | 9 004.00 | 616 560.30 | 0.06 |
| EUR	DASSAULT AVIATION EUR8 | 30.00 | 25 595.17 | 0.00 |
| EUR	DASSAULT SYSTEMES EUR0.50 | 1 902.00 | 322 113.76 | 0.03 |
| EUR	EDENRED EUR2 | 3 695.00 | 154 458.81 | 0.01 |
| EUR	EDF EUR0.5 | 8 673.00 | 76 754.81 | 0.01 |

UBS (Lux) Strategy SICAV – Systematic Allocation Portfolio Defensive (USD) Jahresbericht und geprüfter Jahresabschluss per 31. Mai 2020
|  | Bezeichnung | Anzahl/ | Bewertung in USD | in % des |
| --- | --- | --- | --- | --- |
|  | Nominal | NR Kursgewinn | Netto- |
|  |  | (-verlust) auf Futures/ | vermögens |
|  |  | Devisentermin- |  |
|  |  | kontrakten/ |  |
|  |  | Swaps (Erl. 1) |  |
|  |  |  |  |  |
| EUR | EIFFAGE EUR4 | 1 119.00 | 102 067.01 | 0.01 |
| EUR | ENGIE EUR1 | 25 595.00 | 302 784.82 | 0.03 |
| EUR | ESSILORLUXOTTICA EUR0.18 | 4 135.00 | 532 399.91 | 0.05 |
| EUR | EURAZEO NPV | 535.00 | 26 065.70 | 0.00 |
| EUR | FAURECIA EUR7 | 977.00 | 37 667.31 | 0.00 |
| EUR | GETLINK SE EUR0.40 | 6 494.00 | 93 762.34 | 0.01 |
| EUR | HERMES INTL NPV | 466.00 | 387 625.94 | 0.04 |
| EUR | ICADE NPV | 366.00 | 26 198.18 | 0.00 |
| EUR | ILIAD NPV | 287.00 | 50 568.32 | 0.01 |
| EUR | INGENICO GROUP EUR1 | 879.00 | 121 437.25 | 0.01 |
| EUR | IPSEN EUR1 | 538.00 | 42 310.01 | 0.00 |
| EUR | JC DECAUX SA NPV | 885.00 | 18 005.22 | 0.00 |
| EUR | KERING EUR4 | 1 092.00 | 570 416.64 | 0.05 |
| EUR | KLEPIERRE EUR1.40 | 2 786.00 | 52 807.08 | 0.01 |
| EUR | L'OREAL EUR0.20 | 3 616.00 | 1 053 429.27 | 0.10 |
| EUR | LEGRAND SA EUR4 | 3 847.00 | 262 315.60 | 0.02 |
| EUR | LVMH MOET HENNESSY EUR0.30 | 3 985.00 | 1 662 268.03 | 0.15 |
| EUR | NATIXIS EUR1.6 | 13 219.00 | 29 305.38 | 0.00 |
| EUR | ORANGE EUR4 | 28 722.00 | 346 486.00 | 0.03 |
| EUR | ORPEA EUR2.5 | 538.00 | 63 195.72 | 0.01 |
| EUR | PERNOD RICARD EUR1.55 | 3 089.00 | 481 390.49 | 0.04 |
| EUR | PEUGEOT SA EUR1 | 8 208.00 | 116 911.81 | 0.01 |
| EUR | PUBLICIS GROUPE SA EUR0.40 | 3 293.00 | 93 478.96 | 0.01 |
| EUR | REMY COINTREAU EUR1.60 | 333.00 | 39 560.06 | 0.00 |
| EUR | RENAULT SA EUR3.81 | 3 212.00 | 72 189.80 | 0.01 |
| EUR | SAFRAN EUR0.20 | 4 631.00 | 442 290.00 | 0.04 |
| EUR | SANOFI EUR2 | 16 478.00 | 1 604 363.92 | 0.15 |
| EUR | SARTORIUS STEDIM B EUR0.20 (POST SUBD) | 425.00 | 115 256.15 | 0.01 |
| EUR | SCHNEIDER ELECTRIC EUR8 | 7 948.00 | 788 967.07 | 0.07 |
| EUR | SCOR SE EUR7.876972 (POST CONS) | 2 265.00 | 55 881.91 | 0.01 |
| EUR | SEB SA EUR1 | 318.00 | 43 649.95 | 0.00 |
| EUR | SOC GENERALE EUR1.25 | 11 222.00 | 165 172.30 | 0.02 |
| EUR | SODEXO EUR4 | 1 367.00 | 92 056.06 | 0.01 |
| EUR | SUEZ EUR4 | 5 224.00 | 59 329.46 | 0.01 |
| EUR | TELEPERFORMANCE EUR2.50 | 848.00 | 201 011.43 | 0.02 |
| EUR | THALES EUR3 | 1 492.00 | 114 149.09 | 0.01 |
| EUR | TOTAL EUR2.5 | 35 012.00 | 1 309 545.74 | 0.12 |
| EUR | UBISOFT ENTERTAIN EUR0.31 | 1 332.00 | 103 211.75 | 0.01 |
| EUR | UNIBAIL-RODAMCO-WE NPV(1 ORD UNIBAIL-R & 1CLS) | 2 043.00 | 108 399.73 | 0.01 |
| EUR | VALEO EUR1 (POST SUBD) | 3 381.00 | 83 302.95 | 0.01 |
| EUR | VEOLIA ENVIRONNEME EUR5 | 7 988.00 | 174 910.12 | 0.02 |
| EUR | VINCI EUR2.50 | 7 376.00 | 681 317.76 | 0.06 |
| EUR | VIVENDI SA EUR5.50 | 12 035.00 | 273 499.11 | 0.03 |
| EUR | WENDEL EUR4 | 410.00 | 37 670.85 | 0.00 |
| EUR | WORLDLINE EUR0.68 | 2 049.00 | 152 980.25 | 0.01 |
| Total Frankreich |  | 18 546 379.99 | 1.70 |
| Deutschland |  |  |  |
| EUR	BAYERISCHE MOTOREN WERKE AG EUR1 | 4 715.00 | 275 872.81 | 0.03 |
| EUR	BEIERSDORF AG NPV | 1 538.00 | 161 259.47 | 0.01 |
| EUR	CARL ZEISS MEDITEC NPV | 661.00 | 67 717.75 | 0.01 |
| EUR	COMMERZBANK AG NPV | 14 146.00 | 55 089.30 | 0.00 |
| EUR	CONTINENTAL AG ORD NPV | 1 493.00 | 146 875.72 | 0.01 |
| EUR	COVESTRO AG NPV | 2 460.00 | 91 094.12 | 0.01 |
| EUR	DEUTSCHE WOHNEN AG NPV (BR) | 5 289.00 | 236 623.07 | 0.02 |
| EUR	FRAPORT AG NPV | 600.00 | 29 779.83 | 0.00 |
| EUR	FRESENIUS MED CARE NPV | 3 170.00 | 266 576.90 | 0.02 |
| EUR	FRESENIUS SE & CO. KGAA NPV | 6 047.00 | 290 579.64 | 0.03 |
| EUR	GEA GROUP AG NPV | 2 331.00 | 69 463.47 | 0.01 |
| EUR	HEIDELBERGCEMENT NPV | 2 158.00 | 107 132.14 | 0.01 |
| EUR	HENKEL AG & CO KGAA | 1 443.00 | 115 648.97 | 0.01 |
| EUR	HOCHTIEF AG NPV | 340.00 | 29 915.54 | 0.00 |
| EUR	KION GROUP AG NPV | 900.00 | 50 255.97 | 0.00 |
| EUR	KNORR BREMSE AG NPV | 687.00 | 72 735.08 | 0.01 |
| EUR	LANXESS AG NPV | 1 240.00 | 64 110.51 | 0.01 |
| EUR	MERCK KGAA NPV | 1 919.00 | 220 183.95 | 0.02 |
| EUR	METRO AG (NEW) NPV | 2 588.00 | 24 170.09 | 0.00 |
| EUR	NEMETSCHEK SE ORD NPV | 524.00 | 41 325.58 | 0.00 |
| EUR	PUMA SE NPV | 1 200.00 | 85 668.75 | 0.01 |
| EUR	RWE AG (NEU) NPV | 8 674.00 | 287 429.53 | 0.03 |
| EUR	SAP AG ORD NPV | 14 690.00 | 1 854 637.84 | 0.17 |
| EUR	SYMRISE AG NPV (BR) | 1 865.00 | 204 134.02 | 0.02 |
| EUR	TEAMVIEWER AG NPV | 1 491.00 | 75 885.31 | 0.01 |
| EUR	THYSSENKRUPP AG NPV | 6 923.00 | 46 666.85 | 0.00 |
| EUR	VOLKSWAGEN AG ORD NPV | 463.00 | 73 338.57 | 0.01 |
| EUR	WIRECARD AG NPV | 1 701.00 | 178 917.67 | 0.02 |
| EUR	ZALANDO SE NPV | 2 077.00 | 140 561.75 | 0.01 |
| Total Deutschland |  | 5 363 650.20 | 0.49 |
| Irland |  |  |  |
| EUR	FLUTTER ENTERTAINM ORD EUR0.09 | 1 091.99 | 140 052.55 | 0.01 |
| GBP	FLUTTER ENTERTAINM ORD EUR0.09 | 934.54 | 118 772.73 | 0.01 |
| EUR	KERRY GROUP 'A'ORD EUR0.125(DUBLIN LIST | 2 221.00 | 274 969.92 | 0.03 |
| Total Irland |  | 533 795.20 | 0.05 |
| Italien |  |  |  |
| EUR	ASSIC GENERALI SPA EUR1 | 15 710.00 | 218 175.61 | 0.02 |
| EUR	DIASORIN SPA EUR1 | 245.00 | 51 371.10 | 0.01 |
| EUR	FINECOBANK SPA EUR0.33 | 8 852.00 | 103 437.72 | 0.01 |
| EUR	LEONARDO SPA EUR4.40 | 6 073.00 | 37 829.69 | 0.00 |
| EUR	POSTE ITALIANE SPA NPV | 8 521.00 | 74 821.97 | 0.01 |
| EUR	TELECOM ITALIA SPA DI RISP EUR0.55 | 87 982.00 | 33 940.20 | 0.00 |
| EUR	TELECOM ITALIA SPA EUR0.55 | 131 310.00 | 48 492.81 | 0.00 |
| Total Italien |  | 568 069.10 | 0.05 |

UBS (Lux) Strategy SICAV – Systematic Allocation Portfolio Defensive (USD) Jahresbericht und geprüfter Jahresabschluss per 31. Mai 2020
| Bezeichnung | Anzahl/ | Bewertung in USD | in % des |
| --- | --- | --- | --- |
|  | Nominal | NR Kursgewinn | Netto- |
|  |  | (-verlust) auf Futures/ | vermögens |
|  |  | Devisentermin- |  |
|  |  | kontrakten/ |  |
|  |  | Swaps (Erl. 1) |  |
| Luxemburg |  |  |  |
| EUR	AROUNDTOWN SA EUR0.01 | 19 041.00 | 104 672.82 | 0.01 |
| EUR	EUROFINS SCIENTIFI EUR0.10 | 181.00 | 122 371.63 | 0.01 |
| Total Luxemburg |  | 227 044.45 | 0.02 |
| Niederlande |  |  |  |
| USD	AERCAP HOLDINGS EUR0.01 | 1 839.00 | 59 289.36 | 0.01 |
| EUR	AKZO NOBEL NV EUR0.50(POST REV SPLIT) | 3 008.00 | 246 261.83 | 0.02 |
| EUR	ALTICE EUROPE N.V. EUR0.01 (COMMON SHARES A) | 8 794.00 | 35 215.22 | 0.00 |
| EUR	EXOR NV EUR0.01 | 1 484.00 | 79 994.25 | 0.01 |
| EUR	HEINEKEN HOLDING EUR1.6 | 1 632.00 | 134 517.82 | 0.01 |
| EUR	HEINEKEN NV EUR1.60 | 3 801.00 | 348 728.93 | 0.03 |
| EUR	ING GROEP N.V. EUR0.01 | 53 698.00 | 346 798.02 | 0.03 |
| EUR	JUST EAT TAKEAWAY EUR0.04 | 1 718.00 | 186 438.85 | 0.02 |
| EUR	KON KPN NV EUR0.04 | 50 832.00 | 124 620.72 | 0.01 |
| EUR	KONINKLIJKE AHOLD EUR0.01 | 15 913.00 | 403 755.83 | 0.04 |
| EUR	KONINKLIJKE PHILIPS NV EUR0.20 | 13 235.00 | 600 508.43 | 0.05 |
| USD	NXP SEMICONDUCTORS EUR0.20 | 4 077.00 | 391 799.70 | 0.04 |
| EUR	QIAGEN NV EUR0.01 | 3 447.00 | 150 725.17 | 0.01 |
| EUR	RANDSTAD N.V. EUR0.10 | 1 713.00 | 71 892.84 | 0.01 |
| EUR	STMICROELECTRONICS EUR1.04 | 9 904.00 | 243 359.22 | 0.02 |
| EUR	VOPAK(KON) EUR0.50 | 1 052.00 | 57 702.18 | 0.01 |
| EUR	WOLTERS KLUWER EUR0.12 | 4 114.00 | 328 022.58 | 0.03 |
| Total Niederlande |  | 3 809 630.95 | 0.35 |
| Spanien |  |  |  |
| EUR	ACS ACTIVIDADES CO EUR0.5 | 3 759.00 | 95 961.38 | 0.01 |
| EUR	AENA SME S.A. EUR10 | 969.00 | 138 182.57 | 0.01 |
| EUR	AMADEUS IT GROUP EUR0.01 | 6 305.00 | 329 207.44 | 0.03 |
| EUR	CAIXABANK SA EUR1 | 50 578.00 | 94 489.41 | 0.01 |
| EUR	CELLNEX TELECOM SA EUR0.25 | 3 680.00 | 208 438.37 | 0.02 |
| EUR	ENAGAS SA EUR1.50 | 3 704.00 | 83 268.12 | 0.01 |
| EUR	ENDESA SA EUR1.2 | 4 499.00 | 106 845.28 | 0.01 |
| EUR	FERROVIAL SA EUR0.2 | 7 148.00 | 194 165.32 | 0.02 |
| EUR	GRIFOLS SA EUR0.25 (CLASS A) POST SUBD | 4 484.00 | 140 256.30 | 0.01 |
| EUR	IBERDROLA SA EUR0.75 (POST SUBDIVISION) | 84 713.00 | 912 905.13 | 0.08 |
| EUR	INDITEX EUR0.03 (POST SUBD) | 15 543.00 | 433 095.86 | 0.04 |
| EUR	NATURGY ENERGY GRO EUR1 | 3 957.00 | 73 484.20 | 0.01 |
| EUR	RED ELECTRICA CORP EUR0.5 | 6 044.00 | 106 493.01 | 0.01 |
| EUR	REPSOL SA EUR1 | 21 470.00 | 199 893.63 | 0.02 |
| EUR	SIEMENS GAMESA REN EUR0.17 | 3 366.00 | 56 668.01 | 0.00 |
| EUR	TELEFONICA SA EUR1 | 64 469.00 | 304 130.98 | 0.03 |
| Total Spanien |  | 3 477 485.01 | 0.32 |
| Schweiz |  |  |  |
| CHF	PARGESA HLDGS SA CHF20(BR) | 1 156.00 | 87 238.47 | 0.01 |
| CHF	SWATCH GROUP CHF2.25(BR) | 774.00 | 154 606.64 | 0.01 |
| CHF	SWISS RE AG CHF0.10 | 7 603.00 | 515 361.05 | 0.05 |
| CHF	VIFOR PHARMA AG CHF0.01 | 1 234.00 | 187 662.54 | 0.02 |
| Total Schweiz |  | 944 868.70 | 0.09 |
| Grossbritannien |  |  |  |
| USD	COCA-COLA EUROPEAN ORD EUR0.01 | 3 459.00 | 130 404.30 | 0.01 |
| EUR	UNILEVER EUR0.16 | 20 957.00 | 1 083 752.52 | 0.10 |
| Total Grossbritannien |  | 1 214 156.82 | 0.11 |
| Total Inhaberaktien |  | 38 345 887.67 | 3.52 |
| Partizipationsscheine |  |  |  |
| Schweiz |  |  |  |
| CHF	LINDT & SPRUENGLI PTG CERT CHF10 | 28.00 | 233 454.77 | 0.02 |
| CHF	SCHINDLER-HLDG AG PTG CERT CHF0.10(POST-SUBD) | 1 028.00 | 238 728.84 | 0.02 |
| Total Schweiz |  | 472 183.61 | 0.04 |
| Total Partizipationsscheine |  | 472 183.61 | 0.04 |
| Weitere Aktien |  |  |  |
| Schweiz |  |  |  |
| CHF	ROCHE HLDGS AG GENUSSCHEINE NPV | 18 191.00 | 6 299 724.89 | 0.58 |
| Total Schweiz |  | 6 299 724.89 | 0.58 |
| Total Weitere Aktien |  | 6 299 724.89 | 0.58 |
| Vorzugsaktien |  |  |  |
| Deutschland |  |  |  |
| EUR	BAYERISCHE MOTORENWERKE AG EUR1 | 639.00 | 29 412.56 | 0.00 |
| EUR	FUCHS PETROLUB SE NON-VTG PRF NPV | 1 142.00 | 45 502.28 | 0.00 |
| EUR	HENKEL AG&CO. KGAA NON-VTG PRF NPV | 2 637.00 | 235 482.67 | 0.02 |
| EUR	PORSCHE AUTO HL SE NON VTG PRF NPV | 2 146.00 | 116 753.21 | 0.01 |
| EUR	SARTORIUS AG NON VTG PRF NPV | 530.00 | 196 554.47 | 0.02 |
| EUR	VOLKSWAGEN AG NON VTG PRF NPV | 2 591.00 | 381 878.10 | 0.04 |
| Total Deutschland |  | 1 005 583.29 | 0.09 |
| Total Vorzugsaktien |  | 1 005 583.29 | 0.09 |
| Namensaktien |  |  |  |
| Belgien |  |  |  |
| EUR	AGEAS NPV | 2 725.00 | 92 965.49 | 0.01 |
| EUR	KBC GROUP NV NPV | 3 685.00 | 192 940.39 | 0.02 |
| EUR	TELENET GRP HLDG NPV | 778.00 | 31 898.95 | 0.00 |
| EUR	UCB NPV | 1 907.00 | 190 912.63 | 0.02 |
| Total Belgien |  | 508 717.46 | 0.05 |
| UBS (Lux) Strategy SICAV – Systematic Allocation Portfolio Defensive (USD) Jahresbericht und geprüfter Jahresabschluss per 31. Mai 2020 |  |  |  |

|  | Bezeichnung | Anzahl/ | Bewertung in USD | in % des |
| --- | --- | --- | --- | --- |
|  | Nominal | NR Kursgewinn | Netto- |
|  |  | (-verlust) auf Futures/ | vermögens |
|  |  | Devisentermin- |  |
|  |  | kontrakten/ |  |
|  |  | Swaps (Erl. 1) |  |
| Kanada |  |  |  |  |
| CAD | 1ST QUANTUM MINLS COM NPV | 12 180.00 | 71 113.15 | 0.01 |
| CAD | AGNICO EAGLE MINES LTD COM | 4 214.00 | 268 565.52 | 0.02 |
| CAD | ALIMENTATION COUCHE TARD INC SUB VTG SH | 15 356.00 | 478 833.45 | 0.04 |
| CAD | BANK NOVA SCOTIA HALIFAX COM | 21 520.00 | 858 962.81 | 0.08 |
| CAD | BANK OF MONTREAL COM NPV | 11 394.00 | 559 890.38 | 0.05 |
| CAD | BARRICK GOLD CORP COM NPV | 31 177.00 | 746 831.48 | 0.07 |
| CAD | BCE INC COM NEW | 2 749.00 | 113 822.36 | 0.01 |
| CAD | BLACKBERRY LTD NPV | 9 065.00 | 41 973.67 | 0.00 |
| CAD | BROOKFIELD ASSET M LTD VTG SHS NPV CL'A' | 23 774.50 | 743 576.65 | 0.07 |
| CAD | CAN PACIFIC RYS COM NPV | 2 414.00 | 602 714.08 | 0.06 |
| CAD | CANADIAN NAT RES LTD COM | 20 840.00 | 379 196.93 | 0.03 |
| CAD | CANADIAN NATL RY CO COM | 12 590.00 | 1 080 287.95 | 0.10 |
| CAD | CANADIAN TIRE LTD CL A | 1 028.00 | 87 478.92 | 0.01 |
| CAD | CCL INDUSTRIES INC 'B'NON-VTG COM NPV | 2 658.00 | 89 208.96 | 0.01 |
| CAD | CDN IMPERIAL BK OF COMMERCE COM | 7 946.00 | 507 562.11 | 0.05 |
| CAD | CENOVUS ENERGY INC COM NPV | 18 641.00 | 80 918.83 | 0.01 |
| CAD | CGI INC COM NPV SUB VOTING SHARES C | 4 258.00 | 271 030.85 | 0.02 |
| CAD | CONSTELLATION SOFT COM STK NPV | 371.00 | 420 100.73 | 0.04 |
| CAD | DOLLARAMA INC COM NPV | 5 333.00 | 180 107.39 | 0.02 |
| CAD | ENBRIDGE INC COM NPV | 35 685.00 | 1 156 109.31 | 0.11 |
| CAD | FAIRFAX FINL HLDGS SUB-VTG COM NPV | 447.00 | 123 689.84 | 0.01 |
| CAD | FIRST CAP REAL EST UNIT | 1 400.00 | 13 258.57 | 0.00 |
| CAD | FORTIS INC COM NPV | 7 967.00 | 305 549.61 | 0.03 |
| CAD | FRANCO NEVADA CORP COM NPV | 3 312.00 | 463 085.75 | 0.04 |
| CAD | GILDAN ACTIVEWEAR INC COM | 3 559.00 | 49 180.22 | 0.00 |
| CAD | GREAT WEST LIFECO INC COM | 4 888.00 | 79 285.89 | 0.01 |
| CAD | IA FINANCIAL CORP COM NPV | 1 902.00 | 60 505.67 | 0.01 |
| CAD | IMPERIAL OIL LTD COM NEW | 4 756.00 | 74 013.57 | 0.01 |
| CAD | INTACT FINL CORP COM NPV | 2 450.00 | 232 982.20 | 0.02 |
| CAD | INTER PIPELINE LTD COM NPV | 7 431.00 | 67 794.03 | 0.01 |
| CAD | LOBLAW COS LTD COM | 3 184.00 | 157 011.60 | 0.01 |
| CAD | MAGNA INTL INC COM NPV | 5 193.00 | 218 134.55 | 0.02 |
| CAD | MANULIFE FINL CORP COM | 34 955.00 | 432 448.63 | 0.04 |
| CAD | METRO INC CL A SUB | 4 549.00 | 188 976.69 | 0.02 |
| CAD | NATL BK OF CANADA COM NPV | 5 999.00 | 260 237.33 | 0.02 |
| CAD | NUTRIEN LTD NPV | 10 204.00 | 346 974.39 | 0.03 |
| CAD | OPEN TEXT CO COM NPV | 4 927.00 | 203 895.53 | 0.02 |
| CAD | PARKLAND CORP. COM NPV | 2 600.00 | 72 834.61 | 0.01 |
| CAD | PEMBINA PIPELINE C COM NPV | 9 783.00 | 243 477.93 | 0.02 |
| CAD | POWER CORP CDA COM | 10 236.00 | 165 959.17 | 0.01 |
| CAD | RESTAURANT BRANDS COM NPV | 5 072.00 | 276 020.72 | 0.03 |
| CAD | ROGERS COMMS INC CLASS'B'COM CAD1.62478 | 6 448.00 | 269 172.04 | 0.02 |
| CAD | ROYAL BK OF CANADA COM NPV | 25 299.00 | 1 635 045.34 | 0.15 |
| CAD | SAPUTO INC COM | 4 656.00 | 113 957.81 | 0.01 |
| CAD | SHAW COMMUNICATIONS INC CL B CONV | 8 609.00 | 144 687.51 | 0.01 |
| CAD | SHOPIFY INC COM NPV CL A | 1 831.00 | 1 384 271.50 | 0.13 |
| CAD | SUN LIFE FINL INC COM | 10 533.00 | 359 914.33 | 0.03 |
| CAD | SUNCOR ENERGY INC COM NPV 'NEW' | 27 057.00 | 463 347.70 | 0.04 |
| CAD | TC ENERGY CORPORAT COM NPV | 16 493.00 | 740 407.07 | 0.07 |
| CAD | TECK RESOURCES LTD CLASS'B'SUB-VTG COM NPV | 8 747.00 | 82 774.39 | 0.01 |
| CAD | THOMSON-REUTERS CP COM NPV(POST REV SPLIT) | 3 554.00 | 237 121.89 | 0.02 |
| CAD | TORONTO-DOMINION COM NPV | 32 015.00 | 1 366 115.40 | 0.13 |
| CAD | WESTON GEORGE LTD COM | 1 337.00 | 96 207.51 | 0.01 |
| CAD | WHEATON PRECIOUS M COM NPV | 7 884.00 | 338 358.33 | 0.03 |
| Total Kanada | 20 004 982.85 | 1.84 |
| Finnland |  |  |  |  |
| EUR | ELISA OYJ NPV | 2 010.00 | 126 055.73 | 0.01 |
| EUR | FORTUM OYJ EUR3.40 | 6 307.00 | 120 808.48 | 0.01 |
| EUR | NESTE OIL OYJ NPV | 6 029.00 | 243 574.93 | 0.03 |
| EUR | NOKIA OYJ NPV | 81 890.00 | 324 782.62 | 0.03 |
| EUR | ORION CORP SER'B'NPV | 1 585.00 | 84 803.90 | 0.01 |
| EUR | SAMPO PLC SER'A'NPV | 6 616.00 | 236 380.96 | 0.02 |
| EUR | STORA ENSO OYJ NPV SER'R' | 8 933.00 | 109 551.27 | 0.01 |
| EUR | UPM-KYMMENE CORP NPV | 7 865.00 | 227 201.99 | 0.02 |
| Total Finnland |  | 1 473 159.88 | 0.14 |
| Frankreich |  |  |  |
| EUR	BOLLORE EUR0.16 (RFD 01/01/2020) | 70.00 | 200.89 | 0.00 |
| EUR	GECINA EUR7.50 | 628.00 | 80 822.91 | 0.01 |
| EUR	MICHELIN (CGDE) EUR2 | 2 494.00 | 252 063.89 | 0.02 |
| Total Frankreich |  | 333 087.69 | 0.03 |
| Deutschland |  |  |  |
| EUR	ADIDAS AG NPV (REGD) | 2 641.00 | 696 826.32 | 0.06 |
| EUR	ALLIANZ SE NPV(REGD)(VINKULIERT) | 5 854.00 | 1 060 234.49 | 0.10 |
| EUR	BASF SE NPV | 12 762.00 | 690 555.21 | 0.06 |
| EUR	BAYER AG NPV (REGD) | 14 232.00 | 961 256.21 | 0.09 |
| EUR	BRENNTAG AG | 2 225.00 | 117 338.74 | 0.01 |
| EUR	DAIMLER AG ORD NPV(REGD) | 12 221.00 | 453 768.70 | 0.04 |
| EUR	DELIVERY HERO SE NPV | 1 722.00 | 165 074.92 | 0.02 |
| EUR	DEUTSCHE BANK AG NPV(REGD) | 27 954.00 | 234 173.67 | 0.02 |
| EUR	DEUTSCHE BOERSE AG NPV(REGD) | 2 788.00 | 458 672.18 | 0.04 |
| EUR	DEUTSCHE LUFTHANSA ORD NPV (REGD)(VINK) | 3 456.00 | 35 144.42 | 0.00 |
| EUR	DEUTSCHE POST AG NPV(REGD) | 14 477.00 | 450 575.68 | 0.04 |
| EUR	DEUTSCHE TELEKOM NPV(REGD) | 48 960.00 | 771 979.80 | 0.07 |
| EUR	E.ON SE NPV | 32 831.00 | 347 154.97 | 0.03 |
| EUR	EVONIK INDUSTRIES NPV | 3 422.00 | 84 313.13 | 0.01 |
| EUR	HANNOVER RUECKVERS ORD NPV(REGD) | 899.00 | 144 600.38 | 0.01 |
| EUR	INFINEON TECHNOLOG AG NPV (REGD) | 18 038.00 | 378 337.52 | 0.04 |
| EUR	LEG IMMOBILIEN AG NPV | 795.00 | 99 114.39 | 0.01 |
| EUR	MTU AERO ENGINES H NPV (REGD) | 810.00 | 130 555.41 | 0.01 |
| EUR	MUENCHENER RUECKVE NPV(REGD) | 2 106.00 | 479 297.82 | 0.05 |
| EUR	SCOUT24 AG NPV | 1 227.00 | 93 833.67 | 0.01 |

UBS (Lux) Strategy SICAV – Systematic Allocation Portfolio Defensive (USD) Jahresbericht und geprüfter Jahresabschluss per 31. Mai 2020
|  | Bezeichnung | Anzahl/ | Bewertung in USD | in % des |
| --- | --- | --- | --- | --- |
|  | Nominal | NR Kursgewinn | Netto- |
|  |  | (-verlust) auf Futures/ | vermögens |
|  |  | Devisentermin- |  |
|  |  | kontrakten/ |  |
|  |  | Swaps (Erl. 1) |  |
|  |  |  |  |  |
| EUR | SIEMENS AG NPV(REGD) | 10 970.00 | 1 202 310.31 | 0.11 |
| EUR | SIEMENS HEALTHINEE NPV | 2 097.00 | 108 384.17 | 0.01 |
| EUR | TELEFONICA DEUTSCH NPV | 13 761.00 | 42 339.30 | 0.00 |
| EUR | UNIPER SE NPV | 2 823.00 | 88 238.61 | 0.01 |
| EUR | UNITED INTERNET AG NPV(REGD) | 1 763.00 | 72 324.37 | 0.01 |
| EUR | VONOVIA SE NPV | 7 581.00 | 436 646.52 | 0.04 |
| Total Deutschland	9 803 050.91	0.90 |
| Irland |  |  |  |  |
| EUR | CRH ORD EUR0.32 | 11 057.00 | 360 368.14 | 0.03 |
| EUR | KINGSPAN GROUP ORD EUR0.13(DUBLIN LISTING) | 1 897.00 | 117 217.61 | 0.01 |
| EUR | SMURFIT KAPPA GRP ORD EUR0.001 | 2 904.00 | 94 517.54 | 0.01 |
| Total Irland | 572 103.29 | 0.05 |
| Italien |  |  |  |  |
| EUR | ATLANTIA SPA EUR1 | 7 525.00 | 122 166.49 | 0.01 |
| EUR | DAVIDE DE CAMPARI EUR0.05 (POST SUBD) | 7 969.00 | 64 709.52 | 0.01 |
| EUR | ENEL EUR1 | 116 005.00 | 890 492.36 | 0.08 |
| EUR | ENI SPA EUR1 | 37 042.00 | 334 697.41 | 0.03 |
| EUR | FERRARI NV EUR0.01(NEW) | 1 771.00 | 299 238.72 | 0.03 |
| EUR | INTESA SANPAOLO NPV | 212 082.00 | 366 225.78 | 0.03 |
| EUR | MEDIOBANCA SPA EUR0.5 | 8 635.00 | 56 055.61 | 0.01 |
| EUR | MONCLER SPA NPV | 2 786.00 | 103 661.79 | 0.01 |
| EUR | NEXI SPA NPV | 3 931.00 | 64 584.01 | 0.01 |
| EUR | PIRELLI & C SPA NPV | 5 939.00 | 26 623.17 | 0.00 |
| EUR | PRYSMIAN SPA EUR0.10 | 3 386.00 | 72 108.06 | 0.01 |
| EUR | RECORDATI EUR0.125 | 1 754.00 | 79 837.45 | 0.01 |
| EUR | SNAM EUR1 | 28 654.00 | 133 357.79 | 0.01 |
| EUR | TERNA SPA ORD EUR0.22 | 20 198.00 | 136 376.18 | 0.01 |
| EUR | UNICREDIT SPA NPV (POST REV SPLIT) | 29 976.00 | 255 613.60 | 0.02 |
| Total Italien |  | 3 005 747.94 | 0.28 |
| Luxemburg |  |  |  |
| EUR	ARCELORMITTAL NPV(POST STOCK SPLIT) | 10 222.00 | 97 842.65 | 0.01 |
| EUR	TENARIS S.A. USD1 | 6 757.00 | 42 030.30 | 0.00 |
| Total Luxemburg |  | 139 872.95 | 0.01 |
| Niederlande |  |  |  |
| EUR	ADYEN NV EUR0.01 | 239.00 | 314 502.50 | 0.03 |
| EUR	AEGON NV EUR0.12 | 23 044.00 | 61 647.35 | 0.01 |
| EUR	ASML HOLDING NV EUR0.09 | 6 125.00 | 1 995 910.46 | 0.18 |
| EUR	CNH INDUSTRIAL NV COM EUR0.01 | 14 158.00 | 85 861.65 | 0.01 |
| EUR	FIAT CHRYSLER AUTO EUR0.01 | 15 322.00 | 135 358.89 | 0.01 |
| EUR	KONINKLIJKE DSM NV EUR1.5 | 2 568.00 | 328 642.03 | 0.03 |
| EUR	NN GROUP N.V. EUR0.12 | 4 348.00 | 134 309.54 | 0.01 |
| EUR	PROSUS N.V. EUR0.05 | 7 115.00 | 590 412.02 | 0.05 |
| Total Niederlande |  | 3 646 644.44 | 0.33 |
| Portugal |  |  |  |
| EUR	EDP ENERGIAS PORTU EUR1(REGD) | 39 080.00 | 183 576.50 | 0.02 |
| EUR	GALP ENERGIA EUR1-B | 7 114.00 | 84 790.56 | 0.01 |
| EUR	JERONIMO MARTINS EUR5 | 3 477.00 | 59 484.32 | 0.00 |
| Total Portugal |  | 327 851.38 | 0.03 |
| Spanien |  |  |  |
| EUR	BANCO SANTANDER SA EUR0.50(REGD) | 232 878.00 | 527 797.76 | 0.05 |
| EUR	BANKINTER SA EUR0.3(REGD) | 9 843.00 | 41 726.11 | 0.00 |
| EUR	BBVA(BILB-VIZ-ARG) EUR0.49 | 92 942.00 | 288 751.61 | 0.03 |
| EUR	MAPFRE SA EUR0.10 | 16 549.00 | 29 140.31 | 0.00 |
| Total Spanien |  | 887 415.79 | 0.08 |
| Schweiz |  |  |  |
| CHF	ABB LTD CHF0.12 (REGD) | 47 430.00 | 932 604.04 | 0.09 |
| CHF	ADECCO GROUP AG CHF0.1 (REGD) | 3 905.00 | 185 433.64 | 0.02 |
| CHF	ALCON AG CHF0.04 | 12 424.00 | 800 246.82 | 0.07 |
| CHF	BALOISE-HLDGS CHF0.1(REGD) | 1 286.00 | 182 853.75 | 0.02 |
| CHF	BARRY CALLEBAUT AG CHF0.02 (REGD) | 76.00 | 152 838.56 | 0.01 |
| CHF	BQE CANT VAUDOISE CHF1 | 60.00 | 5 833.25 | 0.00 |
| CHF	CLARIANT CHF4.00(REGD) | 4 985.00 | 91 402.91 | 0.01 |
| CHF	CREDIT SUISSE GRP CHF0.04(REGD) | 66 225.00 | 604 414.28 | 0.06 |
| CHF	EMS-CHEMIE HLDG AG CHF0.01(REGD)(POST RECON) | 215.00 | 159 006.46 | 0.01 |
| CHF	GEBERIT CHF0.10(REGD) | 952.00 | 463 068.18 | 0.04 |
| CHF	GIVAUDAN AG CHF10 | 237.00 | 850 358.07 | 0.08 |
| CHF	JULIUS BAER GRUPPE CHF0.02 (REGD) | 5 699.00 | 242 624.23 | 0.02 |
| CHF	KUEHNE&NAGEL INTL CHF1(REGD)(POST-SUBD) | 1 353.00 | 194 915.37 | 0.02 |
| CHF	LAFARGEHOLCIM LTD CHF2 (REGD) | 12 739.00 | 526 957.28 | 0.05 |
| CHF	LINDT & SPRUENGLI CHF100(REGD) | 3.00 | 260 435.10 | 0.02 |
| CHF	LOGITECH INTL CHF0.25(REGD) (POST-SUBD) | 3 878.00 | 228 796.75 | 0.02 |
| CHF	LONZA GROUP AG CHF1(REGD) | 1 943.00 | 953 601.02 | 0.09 |
| CHF	NESTLE SA CHF0.10(REGD) | 77 169.00 | 8 342 638.01 | 0.77 |
| CHF	NOVARTIS AG CHF0.50(REGD) | 55 534.00 | 4 799 612.80 | 0.44 |
| CHF	PARTNERS GROUP HLG CHF0.01 (REGD) | 475.00 | 392 776.10 | 0.04 |
| CHF	RICHEMONT(CIE FIN) CHF1.00 (REG) SER 'A' | 13 474.00 | 783 727.62 | 0.07 |
| CHF	SCHINDLER-HLDG AG CHF0.1(REGD)(POST-SUBD) | 589.00 | 136 352.24 | 0.01 |
| CHF	SGS LTD CHF1(REGD) | 155.00 | 363 823.25 | 0.03 |
| CHF	SIKA AG CHF0.01 (REG) | 3 555.00 | 608 720.20 | 0.06 |
| CHF	SONOVA HOLDING AG CHF0.05 (REGD) | 1 385.00 | 303 468.82 | 0.03 |
| CHF	STRAUMANN HLDG CHF0.1(REGD) | 263.00 | 212 984.28 | 0.02 |
| CHF	SWATCH GROUP CHF0.45(REGD) | 1 436.00 | 55 813.72 | -0.01 |
| CHF	SWISS LIFE HLDG CHF5.1(REGD) | 870.00 | 305 545.96 | 0.03 |
| CHF	SWISS PRIME SITE CHF15.3 (REGD) | 1 948.00 | 181 275.32 | 0.02 |
| CHF	SWISSCOM AG CHF1(REGD) | 635.00 | 330 355.99 | 0.03 |
| CHF	TEMENOS AG CHF5 (REGD) | 1 682.00 | 256 843.34 | 0.02 |
| CHF	UBS GROUP CHF0.10 (REGD) | 99 504.00 | 1 066 817.11 | 0.10 |
| CHF	ZURICH INSURANCE GRP CHF0.10 | 3 832.00 | 1 234 520.66 | 0.11 |
| Total Schweiz |  | 26 210 665.13 | 2.40 |
| UBS (Lux) Strategy SICAV – Systematic Allocation Portfolio Defensive (USD) Jahresbericht und geprüfter Jahresabschluss per 31. Mai 2020 |  |  |  |

| Bezeichnung | Anzahl/ | Bewertung in USD | in % des |
| --- | --- | --- | --- |
|  | Nominal | NR Kursgewinn | Netto- |
|  |  | (-verlust) auf Futures/ | vermögens |
|  |  | Devisentermin- |  |
|  |  | kontrakten/ |  |
|  |  | Swaps (Erl. 1) |  |
| Vereinigte Staaten |  |  |  |
| CAD	BAUSCH HEALTH COMP COM NPV | 5 641.00 | 103 498.59 | 0.01 |
| CAD	OVINTIV INC COM USD0.01 | 2 830.00 | 21 252.64 | 0.00 |
| Total Vereinigte Staaten |  | 124 751.23 | 0.01 |
| Total Namensaktien |  | 67 038 050.94 | 6.15 |
| Depository Receipts |  |  |  |
| Luxemburg |  |  |  |
| EUR	SES S.A. FDR EACH REP 1 'A' NPV | 5 068.00 | 37 511.19 | 0.00 |
| Total Luxemburg |  | 37 511.19 | 0.00 |
| Niederlande |  |  |  |
| EUR	ABN AMRO BANK N.V. DR EACH REP SHS | 6 021.00 | 48 288.68 | 0.01 |
| Total Niederlande |  | 48 288.68 | 0.01 |
| Total Depository Receipts |  | 85 799.87 | 0.01 |
| Zertifikate auf Anlagefonds |  |  |  |
| Irland |  |  |  |
| USD	STAR COMPASS PLC/UBS DYNMC DIVERSIFIED LTD NOTE DUE 31.03.21 | 33 350 000.00 | 48 911 110.00 | 4.49 |
| Total Irland |  | 48 911 110.00 | 4.49 |
| Total Zertifikate auf Anlagefonds |  | 48 911 110.00 | 4.49 |
| Investment Fonds, closed end |  |  |  |
| Kanada |  |  |  |
| CAD	RIOCAN REAL ESTATE INVESTMENT TRUST	3 301.00 | 34 772.51 | 0.00 |
| Total Kanada | 34 772.51 | 0.00 |
| Total Investment Fonds, closed end | 34 772.51 | 0.00 |
| Notes, fester Zins |  |  |  |
| USD |  |  |  |  |
| USD | 3M CO 2.25000% 16-19.09.26 | 1 150 000.00 | 1 228 914.50 | 0.11 |
| USD | ABU DHABI,GOVERNMENT OF-REG-S 3.12500% 17-11.10.27 | 4 475 000.00 | 4 799 437.50 | 0.44 |
| USD | ALBERTA, PROVINCE OF 3.30000% 18-15.03.28 | 2 800 000.00 | 3 228 136.52 | 0.30 |
| USD | ALPHABET INC 1.99800% 16-15.08.26 | 4 150 000.00 | 4 489 213.95 | 0.41 |
| USD | AMERICAN EXPRESS CO 3.40000% 18-27.02.23 | 1 000 000.00 | 1 065 758.20 | 0.10 |
| USD | APPLE INC 1.65000% 20-11.05.30 | 1 789 000.00 | 1 815 188.99 | 0.17 |
| USD | APPLE INC 2.20000% 19-11.09.29 | 3 300 000.00 | 3 542 425.26 | 0.33 |
| USD | APPLE INC 2.40000% 13-03.05.23 | 3 475 000.00 | 3 678 004.29 | 0.34 |
| USD | APPLE INC 2.45000% 16-04.08.26 | 3 075 000.00 | 3 351 944.95 | 0.31 |
| USD | APPLE INC 2.85000% 16-23.02.23 | 750 000.00 | 796 734.75 | 0.07 |
| USD | APPLE INC 3.20000% 17-11.05.27 | 2 350 000.00 | 2 651 767.03 | 0.24 |
| USD | ASIAN DEVELOPMENT BANK 2.62500% 19-30.01.24 | 1 000 000.00 | 1 080 790.00 | 0.10 |
| USD | BANK OF NOVA SCOTIA 2.00000% 19-15.11.22 | 1 410 000.00 | 1 448 888.64 | 0.13 |
| USD | BAYER US FINANCE II LLC-REG-S 3.87500% 18-15.12.23 | 1 000 000.00 | 1 078 594.00 | 0.10 |
| USD | BERKSHIRE HATHAWAY INC 2.20000% 16-15.03.21 | 950 000.00 | 962 105.47 | 0.09 |
| USD | BERKSHIRE HATHAWAY INC 3.12500% 16-15.03.26 | 1 075 000.00 | 1 201 873.22 | 0.11 |
| USD | BRITISH COLUMBIA, PROVINCE OF 1.75000% 19-27.09.24 | 500 000.00 | 523 235.00 | 0.05 |
| USD | CHEVRON CORP 2.23600% 20-11.05.30 | 2 571 000.00 | 2 701 300.85 | 0.25 |
| USD | CHEVRON CORP 2.41900% 15-17.11.20 | 1 200 000.00 | 1 208 591.40 | 0.11 |
| USD | CHEVRON CORP 3.19100% 13-24.06.23 | 2 150 000.00 | 2 311 051.98 | 0.21 |
| USD | COMMONWEALTH BANK OF AUSTRALIA-REG-S 3.90000% 18-16.03.28 | 1 000 000.00 | 1 130 250.00 | 0.10 |
| USD | COMMONWEALTH BANK OF AUSTRALIA-REG-S 3.35000% 19-04.06.24 | 500 000.00 | 539 775.00 | 0.05 |
| USD | CORPORACION ANDINA DE FOMENTO 4.37500% 12-15.06.22 | 1 150 000.00 | 1 203 199.00 | 0.11 |
| USD | COUNCIL OF EUROPE DEVELOPMENT BANK 1.62500% 16-16.03.21 | 400 000.00 | 403 719.56 | 0.04 |
| USD | DEXIA CREDIT LOCAL SA-REG-S 2.50000% 18-25.01.21 | 1 000 000.00 | 1 012 929.70 | 0.09 |
| USD | EQUINOR ASA 3.62500% 18-10.09.28 | 4 000 000.00 | 4 528 232.40 | 0.42 |
| USD | EUROPEAN INVESTMENT BANK 2.00000% 16-15.03.21 | 1 500 000.00 | 1 518 840.00 | 0.14 |
| USD | EUROPEAN INVESTMENT BANK 2.37500% 17-24.05.27 | 4 000 000.00 | 4 455 467.99 | 0.41 |
| USD | EXPORT DEVELOPMENT CANADA 2.00000% 17-17.05.22 | 200 000.00 | 206 495.84 | 0.02 |
| USD | EXPORT-IMPORT BANK OF KOREA 2.50000% 15-10.05.21 | 800 000.00 | 812 500.00 | 0.07 |
| USD | EXPORT-IMPORT BANK OF KOREA 3.25000% 15-10.11.25 | 1 200 000.00 | 1 331 250.00 | 0.12 |
| USD | EXPORT-IMPORT BANK OF KOREA 2.75000% 17-25.01.22 | 2 775 000.00 | 2 853 046.87 | 0.26 |
| USD | EXXON MOBIL CORP 3.04300% 16-01.03.26 | 4 050 000.00 | 4 486 320.27 | 0.41 |
| USD | EXXON MOBIL CORP 3.48200% 20-19.03.30 | 1 500 000.00 | 1 696 372.65 | 0.16 |
| USD | HSBC BANK PLC-REG-S 4.12500% 10-12.08.20 | 500 000.00 | 503 528.90 | 0.05 |
| USD | INTER-AMERICAN DEVELOPMENT BANK 2.37500% 17-07.07.27 | 900 000.00 | 1 002 065.94 | 0.09 |
| USD | INTER-AMERICAN DEVELOPMENT BANK 2.25000% 19-18.06.29 | 2 450 000.00 | 2 739 545.65 | 0.25 |
| USD | INTER-AMERICAN DEVELOPMENT BANK 2.00000% 19-23.07.26 | 2 300 000.00 | 2 481 794.76 | 0.23 |
| USD | INTERNATIONAL BUSINESS MACHINES CORP 2.85000% 19-13.05.22 | 700 000.00 | 731 935.89 | 0.07 |
| USD | INTL BK FOR RECONSTR & DEVT WORLD BANK 2.12500% 17-13.12.21 | 900 000.00 | 924 668.46 | 0.08 |
| USD | INTL BK FOR RECONSTR & DEVT WORLD BANK 1.75000% 19-23.10.29 | 1 900 000.00 | 2 050 366.00 | 0.19 |
| USD | JOHNSON & JOHNSON 2.45000% 16-01.03.26 | 2 075 000.00 | 2 269 635.21 | 0.21 |
| USD | JOHNSON & JOHNSON 2.90000% 17-15.01.28 | 1 000 000.00 | 1 124 445.90 | 0.10 |
| USD | JOHNSON & JOHNSON 3.37500% 13-05.12.23 | 775 000.00 | 857 794.80 | 0.08 |
| USD | KOREA DEVELOPMENT BANK 2.75000% 17-19.03.23 | 850 000.00 | 890 640.62 | 0.08 |
| USD | KOREA EAST-WEST POWER CO LTD-REG-S 3.87500% 18-19.07.23 | 1 360 000.00 | 1 473 475.00 | 0.14 |
| USD | KOREA HYDRO&NUCLEAR POWER CO LTD-REG-S 3.00000% 12-19.09.22 | 1 150 000.00 | 1 196 718.75 | 0.11 |
| USD | KOREA HYDRO&NUCLEAR POWER CO LTD-REG-S 3.12500% 17-25.07.27 | 2 575 000.00 | 2 760 078.13 | 0.25 |
| USD | KOREA SOUTH-EAST POWER CO LTD-REG-S 2.12500% 20-03.02.25 | 800 000.00 | 827 304.00 | 0.08 |
| USD | KREDITANSTALT FUER WIEDERAUFBAU 2.12500% 13-17.01.23 | 625 000.00 | 654 590.87 | 0.06 |
| USD | KREDITANSTALT FUER WIEDERAUFBAU 2.00000% 15-02.05.25 | 1 075 000.00 | 1 152 862.25 | 0.11 |
| USD | KREDITANSTALT FUER WIEDERAUFBAU 1.62500% 16-15.03.21 | 1 000 000.00 | 1 010 643.40 | 0.09 |
| USD | KUWAIT INTERNATIONAL GOVT BOND-REG-S 3.50000% 17-20.03.27 | 4 400 000.00 | 4 851 000.00 | 0.45 |
| USD | LANDWIRTSCHAFTLICHE RENTENBANK 2.00000% 15-13.01.25 | 3 200 000.00 | 3 415 392.00 | 0.31 |
| USD | MANITOBA, PROVINCE OF 2.12500% 17-04.05.22 | 1 300 000.00 | 1 337 492.00 | 0.12 |
| USD | MICROSOFT CORP 2.65000% 15-03.11.22 | 2 950 000.00 | 3 107 400.20 | 0.29 |

UBS (Lux) Strategy SICAV – Systematic Allocation Portfolio Defensive (USD) Jahresbericht und geprüfter Jahresabschluss per 31. Mai 2020
|  | Bezeichnung | Anzahl/ | Bewertung in USD | in % des |
| --- | --- | --- | --- | --- |
|  |  | Nominal | NR Kursgewinn | Netto- |
|  |  |  | (-verlust) auf Futures/ | vermögens |
|  |  |  | Devisentermin- |  |
|  |  |  | kontrakten/ |  |
|  |  |  | Swaps (Erl. 1) |  |
|  |  |  |  |  |
| USD | MICROSOFT CORP 2.87500% 17-06.02.24 | 2 575 000.00 | 2 789 459.39 | 0.26 |
| USD | MICROSOFT CORP 3.30000% 17-06.02.27 | 6 475 000.00 | 7 436 538.15 | 0.68 |
| USD | NATIONAL AUSTRALIA BANK LTD/NY 2.50000% 16-12.07.26 | 2 300 000.00 | 2 420 290.00 | 0.22 |
| USD | NEW YORK LIFE GLOBAL FUNDING-REG-S 3.00000% 18-10.01.28 | 1 900 000.00 | 2 081 586.04 | 0.19 |
| USD | NORDIC INVESTMENT BANK 2.25000% 14-30.09.21 | 450 000.00 | 461 277.00 | 0.04 |
| USD | NOVARTIS CAPITAL CORP 2.40000% 12-21.09.22 | 1 700 000.00 | 1 774 461.02 | 0.16 |
| USD | NOVARTIS CAPITAL CORP 3.10000% 17-17.05.27 | 2 600 000.00 | 2 903 758.52 | 0.27 |
| USD | NOVARTIS CAPITAL CORP 2.20000% 20-14.08.30 | 1 500 000.00 | 1 585 526.40 | 0.15 |
| USD | QATAR, STATE OF-REG-S 2.37500% 16-02.06.21 | 3 250 000.00 | 3 283 515.63 | 0.30 |
| USD | QATAR, STATE OF-REG-S 3.37500% 19-14.03.24 | 1 000 000.00 | 1 062 812.50 | 0.10 |
| USD | QATAR, STATE OF-REG-S 4.00000% 19-14.03.29 | 3 300 000.00 | 3 720 750.00 | 0.34 |
| USD | QUEBEC, PROVINCE OF 2.50000% 16-20.04.26 | 4 125 000.00 | 4 504 334.99 | 0.41 |
| USD | ROCHE HOLDINGS INC-REG-S 3.62500% 18-17.09.28 | 2 000 000.00 | 2 337 635.40 | 0.21 |
| USD | SANOFI 4.00000% 11-29.03.21 | 1 500 000.00 | 1 544 886.60 | 0.14 |
| USD | SHELL INTERNATIONAL FINANCE BV 2.25000% 12-06.01.23 | 600 000.00 | 625 566.06 | 0.06 |
| USD | SHELL INTERNATIONAL FINANCE BV 1.87500% 16-10.05.21 | 450 000.00 | 455 890.64 | 0.04 |
| USD | SHELL INTERNATIONAL FINANCE BV 2.87500% 16-10.05.26 | 1 675 000.00 | 1 826 668.40 | 0.17 |
| USD | SINOPEC GROUP OVERSEAS DEV 2013-REG-S 4.37500% 13-17.10.23 | 250 000.00 | 271 972.50 | 0.02 |
| USD | STATE STREET CORP 2.40000% 20-24.01.30 | 872 000.00 | 926 102.28 | 0.08 |
| USD | TOTAL CAPITAL INTERNATIONAL SA 3.70000% 13-15.01.24 | 650 000.00 | 714 405.25 | 0.07 |
| USD | VISA INC 3.15000% 15-14.12.25 | 2 675 000.00 | 3 005 474.59 | 0.28 |
| USD | WALMART INC 2.55000% 13-11.04.23 | 1 375 000.00 | 1 448 656.14 | 0.13 |
| USD | WALMART INC 3.70000% 18-26.06.28 | 5 000 000.00 | 5 916 341.00 | 0.54 |
| USD | WESTPAC BANKING CORP 2.85000% 16-13.05.26 | 2 500 000.00 | 2 682 250.00 | 0.25 |
| USD | WESTPAC BANKING CORP 3.35000% 17-08.03.27 | 1 000 000.00 | 1 108 120.00 | 0.10 |
| Total USD |  |  | 163 594 013.01 | 15.02 |
| Total Notes, fester Zins |  | 163 594 013.01 | 15.02 |
| Medium-Term Notes, fester Zins |  |  |  |
| USD |  |  |  |
| USD	AFRICAN DEVELOPMENT BANK 2.37500% 14-23.09.21 | 925 000.00 | 949 133.25 | 0.09 |
| USD	ASB FINANCE LTD-REG-S 2.12500% 16-01.09.21 | 700 000.00 | 701 815.45 | 0.06 |
| USD	ASIAN DEVELOPMENT BANK 2.62500% 17-12.01.27 | 1 550 000.00 | 1 740 224.37 | 0.16 |
| USD	ASIAN DEVELOPMENT BANK 2.00000% 17-16.02.22 | 800 000.00 | 822 808.00 | 0.08 |
| USD	ASIAN DEVELOPMENT BANK 2.50000% 17-02.11.27 | 2 900 000.00 | 3 264 624.54 | 0.30 |
| USD	ASIAN DEVELOPMENT BANK 1.75000% 19-19.09.29 | 2 000 000.00 | 2 149 823.60 | 0.20 |
| USD	BANK OF AMERICA CORP 3.24800% 16-21.10.27 | 2 300 000.00 | 2 513 650.68 | 0.23 |
| USD	BANK OF MONTREAL 1.90000% 16-27.08.21 | 750 000.00 | 762 829.50 | 0.07 |
| USD	CAISSE D'AMOR DE LA DETTE SOCIALE-REG-S 3.37500% 14-20.03.24 | 650 000.00 | 719 693.00 | 0.07 |
| USD	CLIFFORD CAPITAL PTE LTD-REG-S 1.73300% 19-10.09.24 | 1 200 000.00 | 1 223 004.00 | 0.11 |
| USD	COMMONWEALTH BANK OF AUSTRALIA-REG-S 3.15000% 17-19.09.27 | 625 000.00 | 673 200.00 | 0.06 |
| USD	CPPIB CAPITAL INC-REG-S 2.75000% 17-02.11.27 | 3 125 000.00 | 3 507 104.38 | 0.32 |
| USD	FINNVERA OYJ-REG-S 1.87500% 17-05.10.20 | 800 000.00 | 803 832.00 | 0.07 |
| USD	IDB TRUST SERVICES LTD-REG-S 2.26100% 17-26.09.22 | 1 800 000.00 | 1 856 575.44 | 0.17 |
| USD	INTERNATIONAL FINANCE CORP 2.12500% 16-07.04.26 | 1 000 000.00 | 1 088 030.00 | 0.10 |
| USD	INTL BK FOR RECONSTR & DEVT WORLD BANK 2.50000% 17-22.11.27 | 3 195 000.00 | 3 607 825.95 | 0.33 |
| USD	JAPAN TOBACCO INC-REG-S 2.80000% 16-13.04.26 | 1 800 000.00 | 1 887 840.00 | 0.17 |
| USD	KOMMUNEKREDIT-REG-S 1.62500% 16-01.06.21 | 425 000.00 | 430 136.55 | 0.04 |
| USD	KOREA DEVELOPMENT BANK 1.75000% 20-18.02.25 | 375 000.00 | 384 909.93 | 0.03 |
| USD	LANDESKREDITBANK B-WUERTT FOERDBK-REG-S 1.37500% 16-21.07.21 | 475 000.00 | 480 150.90 | 0.04 |
| USD	MACQUARIE GROUP LTD-REG-S 6.25000% 11-14.01.21 | 800 000.00 | 822 848.00 | 0.08 |
| USD	MDGH - GMTN BV-REG-S 3.00000% 17-19.04.24 | 1 000 000.00 | 1 042 500.00 | 0.10 |
| USD	MUNICIPALITY FINANCE PLC-REG-S 1.87500% 17-18.09.20 | 425 000.00 | 426 717.00 | 0.04 |
| USD	NEDERLANDSE WATERSCHAPSBK NV-REG-S 3.00000% 18-21.12.21 | 425 000.00 | 441 984.70 | 0.04 |
| USD	NESTLE HOLDINGS INC-REG-S 1.87500% 16-09.03.21 | 800 000.00 | 805 520.00 | 0.07 |
| USD	NESTLE HOLDINGS INC-REG-S 2.37500% 17-18.01.22 | 650 000.00 | 668 353.73 | 0.06 |
| USD	NESTLE HOLDINGS INC-REG-S 3.12500% 18-22.03.23 | 1 330 000.00 | 1 413 031.90 | 0.13 |
| USD	NISSAN MOTOR ACCEPTANCE CORP-REG-S 2.60000% 17-28.09.22 | 400 000.00 | 370 271.60 | 0.03 |
| USD	NORDRHEIN-WESTFALEN, STATE OF-REG-S 2.25000% 15-16.04.25 | 700 000.00 | 753 684.40 | 0.07 |
| USD	SAUDI GOVERNMENT INTERNATIONAL BD-REG-S 2.50000% 20-03.02.27 | 1 700 000.00 | 1 710 200.00 | 0.16 |
| USD	SP POWERASSETS LTD-REG-S 3.25000% 15-24.11.25 | 1 000 000.00 | 1 087 350.00 | 0.10 |
| USD	SUMITOMO MITSUI BANKING CORP-REG-S 2.44000% 19-18.06.24 | 586 000.00 | 606 920.20 | 0.06 |
| USD	SVENSK EXPORTKREDIT AB 1.75000% 16-10.03.21 | 400 000.00 | 404 312.92 | 0.04 |
| USD	TOYOTA MOTOR CREDIT CORP 2.60000% 17-11.01.22 | 1 225 000.00 | 1 257 119.99 | 0.12 |
| USD	TOYOTA MOTOR FINANCE NL BV-REG-S 2.76400% 19-26.04.21 | 600 000.00 | 604 185.48 | 0.05 |
| Total USD |  | 41 982 211.46 | 3.85 |
| Total Medium-Term Notes, fester Zins |  | 41 982 211.46 | 3.85 |
| Anleihen, fester Zins |  |  |  |
| USD |  |  |  |
| USD	BNG BANK NV-REG-S 2.62500% 14-28.04.21 | 550 000.00 | 560 493.45 | 0.05 |
| USD	BNG BANK NV-REG-S 2.37500% 16-16.03.26 | 1 000 000.00 | 1 090 835.81 | 0.10 |
| USD	CAISSE D'AMORTIS DE LA DETTE SOC-REG-S 1.87500% 15-12.02.22 | 550 000.00 | 563 678.50 | 0.05 |
| USD	CANADIAN IMPERIAL BANK OF COM/CAN-REG-S 2.35000% 17-27.07.22 | 875 000.00 | 901 434.72 | 0.08 |
| USD	CENTRAL JAPAN RAILWAY CO-REG-S 3.40000% 18-06.09.23 | 1 400 000.00 | 1 482 266.38 | 0.14 |
| USD	DBS BANK LTD-REG-S 3.30000% 18-27.11.21 | 420 000.00 | 436 668.83 | 0.04 |
| USD	DNB BOLIGKREDITT AS-REG-S 2.50000% 17-28.03.22 | 750 000.00 | 774 397.50 | 0.07 |
| USD	EUROPEAN INVESTMENT BANK 1.87500% 15-10.02.25 | 3 250 000.00 | 3 460 322.44 | 0.32 |
| USD	FAB SUKUK CO LTD-REG-S 3.87500% 19-22.01.24 | 1 100 000.00 | 1 167 375.00 | 0.11 |
| USD	FMS WERTMANAGEMENT 2.00000% 17-01.08.22 | 475 000.00 | 491 861.98 | 0.04 |
| USD	ING BANK NV-REG-S 2.62500% 12-05.12.22 | 300 000.00 | 314 166.99 | 0.03 |
| USD	INTL BK FOR RECONSTR & DEVT WORLD BANK 2.50000% 14-25.11.24 | 625 000.00 | 680 993.75 | 0.06 |
| USD	INTL BK FOR RECONSTR & DEVT WORLD BANK 2.50000% 15-29.07.25 | 3 500 000.00 | 3 847 200.00 | 0.35 |
| USD	KOREA GAS CORP-REG-S 2.87500% 19-16.07.29 | 1 600 000.00 | 1 718 000.00 | 0.16 |
| USD	KOREA NATIONAL OIL CORP-REG-S 3.25000% 14-10.07.24 | 1 550 000.00 | 1 663 343.75 | 0.15 |
| USD	KOREA, REPUBLIC OF 3.87500% 13-11.09.23 | 1 100 000.00 | 1 202 093.75 | 0.11 |
| USD	KREDITANSTALT FUER WIEDERAUFBAU 2.50000% 14-20.11.24 | 1 250 000.00 | 1 362 482.13 | 0.13 |
| USD	MORGAN STANLEY 5.50000% 10-24.07.20 | 653 000.00 | 657 655.89 | 0.06 |
| USD	NATIONWIDE BUILDING SOCIETY-REG-S 1.70000% 20-13.02.23 | 1 283 000.00 | 1 312 810.63 | 0.12 |
| USD	NOVARTIS CAPITAL CORP 3.40000% 14-06.05.24 | 450 000.00 | 495 861.62 | 0.05 |
| USD	OESTERREICHISCHE KONTROLLBANK AG 2.37500% 14-01.10.21 | 450 000.00 | 462 238.78 | 0.04 |
| USD	ONTARIO, PROVINCE OF 3.20000% 14-16.05.24 | 2 000 000.00 | 2 192 880.20 | 0.20 |

UBS (Lux) Strategy SICAV – Systematic Allocation Portfolio Defensive (USD) Jahresbericht und geprüfter Jahresabschluss per 31. Mai 2020
|  | Bezeichnung | Anzahl/ | Bewertung in USD | in % des |
| --- | --- | --- | --- | --- |
|  | Nominal | NR Kursgewinn | Netto- |
|  |  | (-verlust) auf Futures/ | vermögens |
|  |  | Devisentermin- |  |
|  |  | kontrakten/ |  |
|  |  | Swaps (Erl. 1) |  |
|  |  |  |  |  |
| USD | ONTARIO, PROVINCE OF 2.50000% 16-27.04.26 | 2 800 000.00 | 3 051 888.00 | 0.28 |
| USD | ROYAL BANK OF CANADA 2.10000% 15-14.10.20 | 625 000.00 | 628 727.75 | 0.06 |
| USD | ROYAL BANK OF CANADA-REG-S 3.35000% 18-22.10.21 | 800 000.00 | 829 720.08 | 0.08 |
| USD | SWEDBANK AB-REG-S 2.80000% 17-14.03.22 | 400 000.00 | 412 621.60 | 0.04 |
| Total USD |  |  | 31 762 019.53 | 2.92 |
| Total Anleihen, fester Zins |  | 31 762 019.53 | 2.92 |
| Treasury-Notes, fester Zins |  |  |  |
| USD |  |  |  |
| USD	AMERICA, UNITED STATES OF 6.75000% 96-15.08.26 | 936 000.00 | 1 299 760.30 | 0.12 |
| USD	AMERICA, UNITED STATES OF 2.62500% 19-15.02.29 | 12 578 000.00 | 14 755 074.45 | 1.36 |
| USD	AMERICA, UNITED STATES OF 1.50000% 15-31.01.22 | 575 000.00 | 587 623.03 | 0.05 |
| USD	AMERICA, UNITED STATES OF 2.25000% 17-15.02.27 | 6 650 000.00 | 7 431 375.00 | 0.68 |
| USD	AMERICA, UNITED STATES OF 1.75000% 13-15.05.23 | 501 000.00 | 523 936.38 | 0.05 |
| USD	AMERICA, UNITED STATES OF 0.62500% 20-15.05.30 | 1 000.00 | 997.85 | 0.00 |
| Total USD |  | 24 598 767.01 | 2.26 |
| Total Treasury-Notes, fester Zins |  | 24 598 767.01 | 2.26 |
| Treasury-Notes, variabler Zins |  |  |  |
| USD |  |  |  |
| USD	AMERICA, UNITED STATES OF 3.875%/CPI LINKED 99-15.04.29 | 2 780 000.00 | 6 043 954.55 | 0.56 |
| USD	AMERICA, UNITED STATES OF 2.375%/CPI LINKED 04-15.01.25 | 2 345 000.00 | 3 634 704.27 | 0.33 |
| USD	AMERICA, UNITED STATES OF 0.625%/CPI LINKED 14-15.01.24 | 2 771 000.00 | 3 176 666.76 | 0.29 |
| USD	AMERICA, UNITED STATES OF 0.625%/CPI LINKED 16-15.01.26 | 3 238 000.00 | 3 737 078.59 | 0.34 |
| USD	AMERICA, UNITED STATES OF 1.125%/CPI LINKED 11-15.01.21 | 1 013 000.00 | 1 194 994.76 | 0.11 |
| USD	AMERICA, UNITED STATES OF 0.125%/CPI LINKED 12-15.01.22 | 814 000.00 | 930 497.04 | 0.09 |
| USD	AMERICA, UNITED STATES OF 0.125%/CPI LINKED 13-15.01.23 | 1 922 000.00 | 2 170 520.52 | 0.20 |
| USD	AMERICA, UNITED STATES OF 0.375%/CPI LINKED 17-15.01.27 | 4 281 000.00 | 4 839 441.03 | 0.44 |
| USD	AMERICA, UNITED STATES OF 0.375%/CPI INDEX 13-15.07.23 | 684 000.00 | 778 617.00 | 0.07 |
| USD	AMERICA, UNITED STATES OF 0.375%/CPI LINKED 15-15.07.25 | 3 086 000.00 | 3 518 911.05 | 0.32 |
| USD	AMERICA, UNITED STATES OF 0.750%/CPI LINKED 18-15.07.28 | 5 209 000.00 | 5 923 033.35 | 0.55 |
| Total USD |  | 35 948 418.92 | 3.30 |
| Total Treasury-Notes, variabler Zins | 35 948 418.92 | 3.30 |
| Total Wertpapiere und Geldmarktinstrumente, die an einer offiziellen Börse gehandelt werden | 460 078 542.71 | 42.23 |
| Wertpapiere und Geldmarktinstrumente, die an einem anderen geregelten Markt gehandelt werden |  |  |
| Treasury-Bills, Nullcoupon |  |  |
| USD |  |  |
| USD	AMERICA, UNITED STATES OF TB 0.00000% 26.03.20-24.09.20	10 000.00 | 9 994.65 | 0.00 |
| USD	AMERICA, UNITED STATES OF TB 0.00000% 07.11.19-05.11.20	10 000.00 | 9 992.70 | 0.00 |
| Total USD | 19 987.35 | 0.00 |
| Total Treasury-Bills, Nullcoupon | 19 987.35 | 0.00 |
| Notes, fester Zins |  |  |
| USD |  |  |
| USD	ALTRIA GROUP INC 2.85000% 12-09.08.22	1 000 000.00 | 1 038 071.00 | 0.10 |
| USD	FANNIE MAE 2.12500% 16-24.04.26	1 625 000.00 | 1 766 333.08 | 0.16 |
| USD	HSBC HOLDINGS PLC 4.87500% 11-14.01.22	1 025 000.00 | 1 086 639.40 | 0.10 |
| USD	MASSMUTUAL GLOBAL FUNDING II-REG-S 2.45000% 15-23.11.20	850 000.00 | 858 549.64 | 0.08 |
| USD	NATIONAL AUSTRALIA BANK LTD NEW YORK 2.87500% 18-12.04.23	500 000.00 | 521 692.95 | 0.05 |
| USD	NATIONAL AUSTRALIA BANK LTD-144A 3.50000% 17-10.01.27	2 000 000.00 | 2 193 080.00 | 0.20 |
| USD	NEW YORK LIFE GLOBAL FUNDING-REG-S 1.95000% 17-28.09.20	800 000.00 | 803 941.68 | 0.07 |
| USD	PROCTER & GAMBLE CO 2.30000% 12-06.02.22	625 000.00 | 649 480.75 | 0.06 |
| Total USD | 8 917 788.50 | 0.82 |
| Total Notes, fester Zins | 8 917 788.50 | 0.82 |
| Medium-Term Notes, fester Zins |  |  |
| USD |  |  |
| USD	GOLDMAN SACHS GROUP INC/THE 3.85000% 14-08.07.24	1 000 000.00 | 1 087 873.90 | 0.10 |
| USD	GUARDIAN LIFE GLOBAL FUNDING-REG-S 2.00000% 16-26.04.21	1 400 000.00 | 1 419 106.78 | 0.13 |
| Total USD | 2 506 980.68 | 0.23 |
| Total Medium-Term Notes, fester Zins | 2 506 980.68 | 0.23 |
| Medium-Term Notes, Nullcoupon |  |  |
| USD |  |  |
| USD	INTL BK FOR RECONSTR & DEVT WORLD BANK 0.00000% 00-01.05.30	1 400 000.00 | 1 211 682.57 | 0.11 |
| Total USD | 1 211 682.57 | 0.11 |
| Total Medium-Term Notes, Nullcoupon | 1 211 682.57 | 0.11 |
| Anleihen, fester Zins |  |  |
| USD |  |  |
| USD	COMMONWEALTH BANK OF AUSTRALIA-REG-S 1.62500% 19-17.10.22	750 000.00 | 766 018.27 | 0.07 |
| Total USD | 766 018.27 | 0.07 |
| Total Anleihen, fester Zins | 766 018.27 | 0.07 |

UBS (Lux) Strategy SICAV – Systematic Allocation Portfolio Defensive (USD) Jahresbericht und geprüfter Jahresabschluss per 31. Mai 2020
| Bezeichnung | Anzahl/ | Bewertung in USD | in % des |
| --- | --- | --- | --- |
|  | Nominal | NR Kursgewinn | Netto- |
|  |  | (-verlust) auf Futures/ | vermögens |
|  |  | Devisentermin- |  |
|  |  | kontrakten/ |  |
|  |  | Swaps (Erl. 1) |  |
| Treasury-Notes, variabler Zins |  |  |  |
| USD |  |  |  |
| USD	AMERICA, UNITED STATES OF 0.250%/CPI LINKED 15-15.01.25 | 3 127 000.00 | 3 518 319.04 | 0.32 |
| USD	AMERICA, UNITED STATES OF 0.125%/CPI LINKED 16-15.04.21 | 1 760 000.00 | 1 905 125.87 | 0.18 |
| USD	AMERICA, UNITED STATES OF 0.125%/CPI LINKED 12-15.07.22 | 756 000.00 | 857 442.14 | 0.08 |
| Total USD |  | 6 280 887.05 | 0.58 |
| Total Treasury-Notes, variabler Zins |  | 6 280 887.05 | 0.58 |
| Total Wertpapiere und Geldmarktinstrumente, die an einem anderen geregelten Markt gehandelt werden |  | 19 703 344.42 | 1.81 |

Wertpapiere und Geldmarktinstrumente, die nicht an einer offiziellen Börse oder einem anderen geregelten Markt gehandelt werden
Anrechte
| Italien |  |
| --- | --- |
| EUR | DAVIDE CAMPARI-MILANO SPA RIGHTS 21.06.20 | 7 969.00 | 0.00 | 0.00 |
| Total Italien |  | 0.00 | 0.00 |
| Total Anrechte |  | 0.00 | 0.00 |
| Notes, fester Zins |  |  |  |
| USD |  |  |  |
| USD	MASSMUTUAL GLOBAL FUNDING II-REG-S 2.95000% 18-11.01.25 | 1 100 000.00 | 1 180 821.29 | 0.11 |
| USD	SVENSKA HANDELSBANKEN AB 1.95000% 17-08.09.20 | 500 000.00 | 502 017.50 | 0.04 |
| USD	US BANK NA/CINCINNATI OH 2.65000% 19-23.05.22 | 900 000.00 | 935 060.31 | 0.09 |
| Total USD |  | 2 617 899.10 | 0.24 |
| Total Notes, fester Zins |  | 2 617 899.10 | 0.24 |
| Anleihen, fester Zins |  |  |  |
| USD |  |  |  |
| USD	HSBC BANK CANADA-REG-S 3.30000% 18-28.11.21 | 1 300 000.00 | 1 348 297.73 | 0.12 |
| USD	HSBC BANK CANADA-REG-S 1.65000% 19-10.09.22 | 600 000.00 | 611 790.30 | 0.06 |
| USD	MASSMUTUAL GLOBAL FUNDING II-REG-S 2.75000% 17-22.06.24 | 800 000.00 | 853 398.16 | 0.08 |
| Total USD |  | 2 813 486.19 | 0.26 |
| Total Anleihen, fester Zins |  | 2 813 486.19 | 0.26 |
| Total Wertpapiere und Geldmarktinstrumente, die nicht an einer offiziellen Börse oder einem anderen geregelten Markt gehandelt werden |  | 5 431 385.29 | 0.50 |

OGAW/Andere OGA im Sinne des Artikels 41 (1) e) des abgeänderten luxemburgischen Gesetzes vom 17. Dezember 2010
Investment Fonds, open end
| Irland |  |
| --- | --- |
| USD | MAN FUNDS VI PLC-MAN AHL TARGETRISK-INU-USD-CAP | 118 712.81 | 14 864 030.69 | 1.37 |
| USD | UBS ETFS PLC - MSCI USA TRN INDEX SF (USD) A-ACC | 857 904.00 | 70 742 763.84 | 6.49 |
| Total Irland |  | 85 606 794.53 | 7.86 |
| Luxemburg |  |  |  |
| EUR	ALMA PLATINUM IV UBS MULTI-STRATEGY ALTERNATIVES-I0C-E-CAP | 4 033.03 | 43 900 309.26 | 4.03 |
| USD	AQR UCITS FUNDS - GLOBAL RISK PARITY UCITS FUND-A2-CAP | 128 732.88 | 14 593 159.28 | 1.34 |
| USD	INVESCO FUNDS SICAV BAL RISK ALLOCATION-PI1-USD HDG-CAP | 1 320 867.21 | 14 648 417.38 | 1.34 |
| USD	UBS (LUX) BOND FUND-EURO HIGH YIELD (EUR)(USD HEDGED) F-ACC | 244 662.00 | 26 783 149.14 | 2.46 |
| USD	UBS (LUX) BOND SICAV - SHORT TERM USD CORPORATES (USD) F-ACC | 240 628.00 | 26 935 898.32 | 2.47 |
| USD	UBS (LUX) BOND SICAV - USD CORPORATES (USD) F-ACC | 800 623.00 | 17 437 568.94 | 1.60 |
| USD	UBS (LUX) BOND SICAV - USD HIGH YIELD (USD) F-ACC | 126 994.00 | 39 617 048.24 | 3.64 |
| USD	UBS (LUX) BOND SICAV USD - INVEST GRADE CORP USD F ACC | 1 739.08 | 195 165 699.82 | 17.91 |
| USD	UBS (LUX) BOND SICAV - EMERG ECON CORPORATES (USD) F-ACC | 322 641.00 | 36 051 905.34 | 3.31 |
| USD	UBS (LUX) EMERGING ECONOMIES FUND - GLOBAL BONDS (USD) F-ACC | 28 504.00 | 54 113 418.80 | 4.97 |
| USD	UBS (LUX) MONEY MARKET FUND - USD U-X-ACC | 9.00 | 100 778.94 | 0.01 |
| Total Luxemburg | 469 347 353.46 | 43.08 |
| Total Investment Fonds, open end | 554 954 147.99 | 50.94 |
| Total OGAW/Andere OGA im Sinne des Artikels 41 (1) e) des abgeänderten luxemburgischen Gesetzes vom 17. Dezember 2010 | 554 954 147.99 | 50.94 |
| Total des Wertpapierbestandes | 1 040 167 420.41 | 95.48 |

| Derivative Instrumente |  |
| --- | --- |
| Derivative Instrumente, die an einer offiziellen Börse gehandelt werden |
| Finanzterminkontrakte auf Anleihen |
|  |  |  |  |
| USD	US 2YR TREASURY NOTE FUTURE 30.09.20 | 770.00 | 84 217.98 | 0.01 |
| USD	US 5YR TREASURY NOTE FUTURE 30.09.20 | 325.00 | 104 101.40 | 0.01 |
| Total Finanzterminkontrakte auf Anleihen |  | 188 319.38 | 0.02 |

UBS (Lux) Strategy SICAV – Systematic Allocation Portfolio Defensive (USD) Jahresbericht und geprüfter Jahresabschluss per 31. Mai 2020
| Bezeichnung | Anzahl/ | Bewertung in USD | in % des |
| --- | --- | --- | --- |
|  | Nominal | NR Kursgewinn | Netto- |
|  |  | (-verlust) auf Futures/ | vermögens |
|  |  | Devisentermin- |  |
|  |  | kontrakten/ |  |
|  |  | Swaps (Erl. 1) |  |

Finanzterminkontrakte auf Indizes
| EUR | EURO STOXX 50 INDEX FUTURE 19.06.20 | -1 716.00 | -13 557 566.52 | -1.24 |
| --- | --- | --- | --- | --- |
| CHF | SWISS MARKET INDEX FUTURE 19.06.20 | -332.00 | -7 806 278.75 | -0.72 |
| GBP | FTSE 100 INDEX FUTURE 19.06.20 | 1.00 | 14 075.28 | 0.00 |
| SGD | MSCI SINGAPORE INDEX FUTURE 29.06.20 | 1.00 | -173.34 | 0.00 |
| USD | S&P500 EMINI FUTURE 19.06.20 | -464.00 | -8 311 916.67 | -0.76 |
| USD | MINI MSCI EMERGING MARKETS INDEX FUTURE 19.06.20 | 1.00 | 6 935.00 | 0.00 |
| AUD | SPI 200 INDEX FUTURES 18.06.20 | 1.00 | 15 151.23 | 0.00 |
| JPY | TOPIX INDX FUTURE 11.06.20 | -1.00 | -22 536.78 | 0.00 |
| HKD | HANG SENG INDEX FUTURE 29.06.20 | 1.00 | -1 389.19 | 0.00 |
| CAD | S&P/TSX 60 INDEX FUTURE 18.06.20 | -169.00 | -2 465 443.01 | -0.23 |
| Total Finanzterminkontrakte auf Indizes | -32 129 142.75 | -2.95 |
| Total Derivative Instrumente, die an einer offiziellen Börse gehandelt werden | -31 940 823.37 | -2.93 |
| Total Derivative Instrumente | -31 940 823.37 | -2.93 |
| Devisenterminkontrakte |  |  |
| Devisenterminkontrakte (Kauf/Verkauf) |  |  |

| USD | 462 451.10 | CAD | 650 000.00 | 24.6.2020 | -7 820.93 | 0.00 |
| --- | --- | --- | --- | --- | --- | --- |
| USD | 206 536.25 | CHF | 200 000.00 | 24.6.2020 | -1 786.96 | 0.00 |
| USD | 12 275 893.35 | CAD | 17 360 000.00 | 24.6.2020 | -283 987.20 | -0.03 |
| USD | 841 686.65 | JPY | 90 500 000.00 | 24.6.2020 | 1 386.41 | 0.00 |
| USD | 190 283.10 | AUD | 300 000.00 | 24.6.2020 | -8 860.52 | 0.00 |
| USD | 70 112.02 | SGD | 100 000.00 | 24.6.2020 | -643.58 | 0.00 |
| GBP | 1 030 000.00 | USD | 1 273 120.17 | 24.6.2020 | 394.57 | 0.00 |
| HKD | 1 650 000.00 | USD | 212 759.21 | 24.6.2020 | 12.25 | 0.00 |
| USD | 45 541 752.40 | EUR | 41 864 000.00 | 24.6.2020 | -1 047 539.60 | -0.10 |
| USD | 14 879 382.90 | CHF | 14 390 000.00 | 24.6.2020 | -109 471.79 | -0.01 |
| USD | 286 870.17 | CAD | 400 000.00 | 24.6.2020 | -2 528.00 | 0.00 |
| USD | 257 261.99 | CHF | 250 000.00 | 24.6.2020 | -3 142.02 | 0.00 |
| USD | 586 497.78 | EUR | 540 000.00 | 24.6.2020 | -14 453.34 | 0.00 |
| USD | 735 504.98 | EUR | 675 000.00 | 24.6.2020 | -15 683.92 | 0.00 |
| USD | 360 464.54 | CAD | 500 000.00 | 24.6.2020 | -1 283.17 | 0.00 |
| USD | 103 931.52 | CHF | 100 000.00 | 24.6.2020 | -230.08 | 0.00 |
| USD | 922 161.86 | EUR | 850 000.00 | 24.6.2020 | -23 779.72 | 0.00 |
| USD | 2 058 876.69 | GBP | 1 667 000.00 | 22.7.2020 | -2 474.26 | 0.00 |
| USD | 982 536.00 | JPY | 105 500 000.00 | 22.7.2020 | 2 528.89 | 0.00 |
| USD | 272 624.94 | AUD | 420 000.00 | 22.7.2020 | -6 171.58 | 0.00 |
| USD | 13 542 437.92 | CAD | 18 971 000.00 | 22.7.2020 | -183 063.57 | -0.02 |
| USD | 1 076 400.04 | HKD | 8 350 000.00 | 22.7.2020 | 430.17 | 0.00 |
| USD | 70 603.02 | SGD | 100 000.00 | 22.7.2020 | -159.89 | 0.00 |
| USD | 17 625 023.45 | CHF | 17 098 000.00 | 22.7.2020 | -199 242.31 | -0.02 |
| USD | 59 519 630.84 | EUR | 54 933 000.00 | 22.7.2020 | -1 650 410.52 | -0.15 |
| USD | 103 163.93 | CHF | 100 000.00 | 24.6.2020 | -997.67 | 0.00 |
| USD | 103 250.75 | CHF | 100 000.00 | 22.7.2020 | -996.91 | 0.00 |
| SGD | 31 956 800.00 | USD | 22 403 342.61 | 23.6.2020 | 207 674.08 | 0.02 |
| EUR | 234 550 000.00 | USD | 253 500 467.25 | 23.6.2020 | 7 507 930.20 | 0.69 |
| GBP | 18 269 400.00 | USD | 22 132 132.13 | 23.6.2020 | 456 260.51 | 0.04 |
| CHF | 155 332 400.00 | USD | 159 875 913.59 | 23.6.2020 | 1 907 323.19 | 0.17 |
| EUR | 4 534 100.00 | USD | 4 926 086.55 | 23.6.2020 | 119 482.30 | 0.01 |
| USD | 555 095.47 | CHF | 538 900.00 | 23.6.2020 | -6 184.64 | 0.00 |
| USD | 737 080.06 | EUR | 673 600.00 | 23.6.2020 | -12 505.34 | 0.00 |
| USD | 103 059.21 | CHF | 100 000.00 | 24.6.2020 | -1 102.39 | 0.00 |
| USD | 103 144.14 | CHF | 100 000.00 | 22.7.2020 | -1 103.52 | 0.00 |
| USD | 792 789.80 | EUR | 727 200.00 | 23.6.2020 | -16 441.95 | 0.00 |
| CAD | 800 000.00 | USD | 576 564.53 | 24.6.2020 | 2 231.81 | 0.00 |
| CAD | 700 000.00 | USD | 504 506.32 | 22.7.2020 | 1 943.05 | 0.00 |
| USD | 103 446.21 | CHF | 100 000.00 | 24.6.2020 | -715.39 | 0.00 |
| USD | 103 531.99 | CHF | 100 000.00 | 22.7.2020 | -715.67 | 0.00 |
| CHF | 3 561 200.00 | USD | 3 686 775.25 | 23.6.2020 | 22 318.69 | 0.00 |
| EUR | 4 395 000.00 | USD | 4 831 091.68 | 23.6.2020 | 59 686.01 | 0.01 |
| USD | 678 095.31 | EUR | 615 000.00 | 24.6.2020 | -6 321.24 | 0.00 |
| USD | 678 500.60 | EUR | 615 000.00 | 22.7.2020 | -6 325.92 | 0.00 |
| USD | 156 007.70 | CHF | 150 000.00 | 22.7.2020 | -363.80 | 0.00 |
| USD | 155 878.00 | CHF | 150 000.00 | 24.6.2020 | -364.40 | 0.00 |
| USD | 432 320.56 | CHF | 415 700.00 | 23.6.2020 | -643.15 | 0.00 |
| Total Devisenterminkontrakte (Kauf/Verkauf) | 6 672 087.18 | 0.61 |
|  |  |  |
| Bankguthaben, Sicht- und Fristgelder und andere liquide Mittel | 74 583 320.36 | 6.85 |
| Kontokorrentkredit und andere kurzfristige Verbindlichkeiten | -4 650.56 | 0.00 |
| Andere Aktiva und Passiva | -23 457.29 | -0.01 |
| Total des Nettovermögens | 1 089 453 896.73 | 100.00 |

UBS (Lux) Strategy SICAV – Systematic Allocation Portfolio Defensive (USD) Jahresbericht und geprüfter Jahresabschluss per 31. Mai 2020