# STATEMENT OF INVESTMENTS IN SECURITIES AND OTHER NET ASSETS
March 31, 2020 (in EUR)
| Quantity | Description | Ccy | Cost | Value per security | Market value (see notes) | % of net assets |
| --- | --- | --- | --- | --- | --- | --- |
|  | TRANSFERABLE SECURITIES AND MONEY MARKET INSTRUMENTS ADMITTED TO AN OFFICIAL STOCK EXCHANGE OR DEALT IN ON ANOTHER REGULATED MARKET |  |  |  |  |  |
|  | BONDS |  |  |  |  |  |
|  | FRANCE |  |  |  |  |  |
| 400,000 | VINCI SA CONV	0.375 17-22 16/02S | USD | 420,455.16 | 107.19 | 389,222.03 | 0.29 |
|  | TOTAL FRANCE |  | 420,455.16 |  | 389,222.03 | 0.29 |
|  | GERMANY |  |  |  |  |  |
| 1,000,000 | SYMRISE CV	0.2375 17-24 20/06A | EUR | 1,170,020.00 | 116.59 | 1,165,901.43 | 0.86 |
|  | TOTAL GERMANY |  | 1,170,020.00 |  | 1,165,901.43 | 0.86 |
|  | UNITED STATES OF AMERICA |  |  |  |  |  |
| 520 | FORTIVE CORP	5 18-21 01/07Q | USD | 498,084.05 | 721.88 | 339,544.52 | 0.25 |
| 850,000 | IAC FINANCECO 3 CV 2.00 19-30 15/01S | USD | 844,409.17 | 91.49 | 705,985.02 | 0.52 |
| 1,600,000 | JPMORGAN CHASE BANK NA 0.00 19-22 07/08U | USD | 1,511,749.51 | 108.35 | 1,573,751.85 | 1.16 |
|  | TOTAL UNITED STATES OF AMERICA |  | 2,854,242.73 |  | 2,619,281.39 | 1.93 |
|  | TOTAL BONDS |  | 4,444,717.89 |  | 4,174,404.85 | 3.08 |
|  | CONVERTIBLE BONDS |  |  |  |  |  |
|  | BERMUDA |  |  |  |  |  |
| 2,715,000 | JAZZ INVESTMENT CV  1.875 14-21 15/08S | USD | 2,505,112.68 | 96.35 | 2,374,818.06 | 1.75 |
|  | TOTAL BERMUDA |  | 2,505,112.68 |  | 2,374,818.06 | 1.75 |
|  | BRITISH VIRGIN ISLANDS |  |  |  |  |  |
| 2,000,000 | ANLLIAN CAPITAL LTD CV 0.00 20-25 05/02U | EUR | 2,011,300.00 | 87.64 | 1,752,877.16 | 1.28 |
| 1,450,000 | CHINA YANGTZE POWER  0.00 16-21 09/11U | EUR | 1,488,609.55 | 100.96 | 1,463,854.75 | 1.08 |
| 2,000,000 | SHANGHAI PORT GRP BVI 0.00 17-21 09/08U | USD | 1,737,670.61 | 96.05 | 1,743,892.71 | 1.29 |
| 12,000,000 | SMART INSIGHT CV	4.5 18-23 05/12S | HKD | 1,700,473.62 | 102.15 | 1,435,665.72 | 1.06 |
| 1,109,000 | 3SBIO	0.00 17-22 21/07U | EUR | 1,307,725.15 | 102.49 | 1,136,576.02 | 0.84 |
|  | TOTAL BRITISH VIRGIN ISLANDS |  | 8,245,778.93 |  | 7,532,866.36 | 5.55 |
|  | CAYMAN ISLANDS |  |  |  |  |  |
| 14,000,000 | HARVEST INTL CV	0.00 17-22 21/11U | HKD | 1,565,219.82 | 99.30 | 1,628,152.40 | 1.20 |
| 1,775,000 | IQIYI INC	CV 3.75 19-23 01/12U | USD | 1,909,274.68 | 100.99 | 1,627,382.20 | 1.20 |
| 2,102,000 | SEA LTD CV	1.0 19-24 01/12S | USD | 2,030,844.88 | 111.71 | 2,131,747.50 | 1.57 |
| 1,700,000 | SINO BIOPHARMA CV & 0.00 20-25 17/02U | EUR | 1,697,000.00 | 88.62 | 1,506,550.91 | 1.11 |
|  | TOTAL CAYMAN ISLANDS |  | 7,202,339.38 |  | 6,893,833.01 | 5.08 |
|  | CHINA |  |  |  |  |  |
| 1,500,000 | CHINA RAILWAY CONST  0.00 16-21 29/01U | USD | 1,469,164.94 | 100.78 | 1,372,308.67 | 1.01 |
|  | TOTAL CHINA |  | 1,469,164.94 |  | 1,372,308.67 | 1.01 |
|  | FRANCE |  |  |  |  |  |
| 1,800,000 | ATOS SE CV	0.0 19-24 06/11U | EUR | 2,102,825.00 | 111.10 | 1,999,842.37 | 1.47 |
| 19,170 | EDENRED CV 0.00	19-24 06/09U | EUR | 1,267,058.00 | 60.53 | 1,160,373.83 | 0.86 |
| 5,325 | ORPEA	0.375 19-27 17/05A | EUR | 860,729.21 | 144.07 | 764,597.04 | 0.56 |
| 6,059 | REMY COINTREAU CV	0.125 16-26 07/09A | EUR | 842,528.71 | 129.71 | 785,416.17 | 0.58 |

| Quantity | Description |  | Ccy | Cost | Value per security | Market value (see notes) | % of net assets |
| --- | --- | --- | --- | --- | --- | --- | --- |
| 7,082 | SAFRAN SA | 0.00 18-23 21/06U | EUR | 991,203.82 | 131.20 | 929,168.87 | 0.69 |
| 11,500 | UBISOFT ENTERTAIN CV 0.0  19-24 24/09U | EUR | 1,402,658.38 | 119.33 | 1,372,325.42 | 1.01 |
| 13,285 | VEOLIA ENV CV & 0.00	19-25 01/01U | EUR | 444,914.65 | 31.46 | 417,995.49 | 0.31 |
|  | TOTAL FRANCE |  | 7,911,917.77 |  | 7,429,719.19 | 5.48 |
|  | GERMANY |  |  |  |  |  |
| 1,000,000 | DELIVERY HERO	0.25 20-24 23/01S | EUR | 1,078,000.00 | 95.51 | 955,138.64 | 0.70 |
| 1,800,000 | DEUSTCHE WOHNEN CV  0.325 17-24 26/07A | EUR | 1,957,700.00 | 96.37 | 1,734,656.81 | 1.28 |
| 700,000 | LEG IMMOBILIEN  CV 0.875 17-25 01/09S | EUR | 809,375.00 | 113.52 | 794,637.72 | 0.59 |
| 600,000 | MTU AERO ENGINES CV  0.05 19-27 18/03A | EUR | 624,220.00 | 86.22 | 517,325.57 | 0.38 |
| 2,000,000 | RAG-STIFTUNG CV 0.0 18-24 02/10U | EUR | 2,041,680.00 | 91.06 | 1,821,154.16 | 1.34 |
|  | TOTAL GERMANY |  | 6,510,975.00 |  | 5,822,912.90 | 4.29 |
|  | HONG KONG |  |  |  |  |  |
| 8,000,000 | CHINA EDUCATION	2 19-24 28/03S | HKD | 930,583.47 | 96.72 | 906,187.38 | 0.67 |
| 1,430,000 | LENOVO CV	3.375 19-24 24/01S | USD | 1,345,075.68 | 97.10 | 1,260,487.95 | 0.93 |
|  | TOTAL HONG KONG |  | 2,275,659.15 |  | 2,166,675.33 | 1.60 |
|  | ISRAËL |  |  |  |  |  |
| 1,254,000 | CYBERARK SOFTWARE	0.0 19-24 15/11U | USD | 1,176,834.80 | 88.06 | 1,002,520.94 | 0.74 |
|  | TOTAL ISRAËL |  | 1,176,834.80 |  | 1,002,520.94 | 0.74 |
|  | ITALY |  |  |  |  |  |
| 1,000,000 | SNAM CV	0.00 17-22 20/03U | EUR | 1,062,500.00 | 103.63 | 1,036,309.11 | 0.76 |
|  | TOTAL ITALY |  | 1,062,500.00 |  | 1,036,309.11 | 0.76 |
|  | JAPAN |  |  |  |  |  |
| 220,000,000 | CYBERAGENT INC CV	0.00 18-23 17/02U | JPY | 1,833,982.74 | 103.55 | 1,920,905.92 | 1.41 |
| 60,000,000 | KANSAI PAINT CO	0.00 16-22 17/06U | JPY | 488,345.55 | 98.69 | 499,278.64 | 0.37 |
| 230,000,000 | MITSUBISHI CHEM CV  0.00 17-24 29/03U | JPY | 1,938,986.95 | 96.55 | 1,872,405.56 | 1.38 |
| 190,000,000 | MITSUBISHI CHEM CV 0.00 17-22 30/03U | JPY | 1,587,867.22 | 96.45 | 1,545,103.71 | 1.14 |
| 30,000,000 | MITSUMI ELEC REGS CV 0.00 15-22 03/08U | JPY | 261,981.72 | 104.67 | 264,761.38 | 0.20 |
| 100,000,000 | NAGOYA RAILROAD CV  0.00 14-24 11/12U | JPY | 950,819.43 | 112.09 | 945,103.47 | 0.70 |
| 100,000,000 | ROHM CO LTD	19-24 05/12U | JPY | 875,350.14 | 98.28 | 828,625.63 | 0.61 |
| 310,000,000 | SBI HLD CV	0.00 18-23 13/09U | JPY | 2,658,857.24 | 95.38 | 2,492,979.17 | 1.83 |
| 150,000,000 | SHIMIZU CORP	0.00 15-20 16/10A | JPY | 1,301,127.62 | 99.38 | 1,256,964.59 | 0.93 |
| 110,000,000 | SHIP HEALTHCARE CV 0.00	18-23 13/12U | JPY | 897,338.03 | 105.28 | 976,423.89 | 0.72 |
| 120,000,000 | TEIJIN CV	0.00 14-21 10/12U | JPY | 1,119,311.10 | 105.17 | 1,064,064.08 | 0.78 |
| 100,000,000 | TORAY INDUSTRIES CV 0.00 14-21 31/08U | JPY | 894,842.86 | 97.50 | 822,124.79 | 0.61 |
|  | TOTAL JAPAN |  | 14,808,810.60 |  | 14,488,740.83 | 10.68 |
|  | SOUTH KOREA |  |  |  |  |  |
| 2,800,000 | LG CHEM LTD	0.00 18-21 16/04U | USD | 2,295,261.74 | 94.82 | 2,410,288.52 | 1.78 |
|  | TOTAL SOUTH KOREA |  | 2,295,261.74 |  | 2,410,288.52 | 1.78 |
|  | SPAIN |  |  |  |  |  |
| 1,200,000 | CELLNEX TELECOM SA 1.50 18-26 16/01A | EUR | 1,219,987.50 | 136.17 | 1,634,096.72 | 1.20 |
|  | TOTAL SPAIN |  | 1,219,987.50 |  | 1,634,096.72 | 1.20 |
|  | SWITZERLAND |  |  |  |  |  |
| 2,820,000 | SIKA	0.15 18-25 05/06A | CHF | 2,769,163.64 | 107.26 | 2,848,943.05 | 2.10 |
|  | TOTAL SWITZERLAND |  | 2,769,163.64 |  | 2,848,943.05 | 2.10 |
|  | TAIWAN |  |  |  |  |  |
| 800,000 | TAIWAN CEMENT CORP ZCP	18-23 10/12U | USD | 735,753.57 | 115.15 | 836,305.36 | 0.62 |
|  | TOTAL TAIWAN |  | 735,753.57 |  | 836,305.36 | 0.62 |
|  | THE NETHERLANDS |  |  |  |  |  |
| 500,000 | ARGENTUM NETHERLAND CV 0.50 19-24 02/10S | EUR | 375,000.00 | 73.97 | 369,833.13 | 0.27 |
| 1,100,000 | IBERDROLA INTL CV	0.00 15-22 11/11A | EUR | 1,255,860.00 | 118.00 | 1,298,033.35 | 0.96 |
| 1,800,000 | QIAGEN CV	0.50 17-23 13/09S | USD | 1,521,954.60 | 110.42 | 1,804,378.48 | 1.33 |

| Quantity | Description | Ccy | Cost | Value per security | Market value (see notes) | % of net assets |
| --- | --- | --- | --- | --- | --- | --- |
| 400,000 | STMICROELECTRONICS  0.00  17-22 03/07A | USD | 385,444.45 | 120.16 | 436,348.26 | 0.32 |
| 1,200,000 | STMICROELECTRONICS  0.25 17-24 03/07S | USD | 1,331,634.11 | 123.01 | 1,339,989.96 | 0.99 |
|  | TOTAL THE NETHERLANDS |  | 4,869,893.16 |  | 5,248,583.18 | 3.87 |
|  | UNITED KINGDOM |  |  |  |  |  |
| 700,000 | OCADO GROUP	CV 0.875 19-25 09/12S | GBP | 758,795.84 | 95.34 | 753,869.57 | 0.56 |
|  | TOTAL UNITED KINGDOM |  | 758,795.84 |  | 753,869.57 | 0.56 |
|  | UNITED STATES OF AMERICA |  |  |  |  |  |
| 1,062,000 | AKAMAI TECHNOLOGIE CV 0.375 19-27 01/09S | USD | 953,449.75 | 99.67 | 960,924.70 | 0.71 |
| 2,888,000 | AKAMAI TECHNOLOGIES  0.125 19-25 01/05S | USD | 2,598,417.46 | 111.05 | 2,911,532.84 | 2.15 |
| 309,000 | ATLASSIAN INCCV	0.625 18-23 01/05S | USD | 325,141.59 | 174.13 | 488,451.86 | 0.36 |
| 1,540,000 | BIOMARIN PHARM CV SUB 1.50 13-20 15/10S | USD | 1,591,370.22 | 106.01 | 1,482,040.75 | 1.09 |
| 430,000 | CONMED CORP	2.625 19-24 01/02S | USD | 510,132.71 | 93.54 | 365,133.04 | 0.27 |
| 542,000 | DEXCOM INC	0.75 19-23 01/12U | USD | 500,927.51 | 173.52 | 853,754.68 | 0.63 |
| 919,000 | DOCUSIGN INC	CV 0.500 18-23 15/09S | USD | 873,378.27 | 140.50 | 1,172,156.72 | 0.86 |
| 400,000 | ETSY INC CV	0.00 18-23 01/03U | USD | 570,483.48 | 126.78 | 460,362.72 | 0.34 |
| 1,225,000 | EURONET WORLDWIDE 0.75 19-49 15/03S | USD | 1,276,909.91 | 91.09 | 1,012,952.87 | 0.75 |
| 2,342,000 | EXACT SCIENCES CV 0.375	19-27 15/03S | USD | 2,308,597.27 | 84.38 | 1,794,010.42 | 1.32 |
| 2,572,000 | FORTIVE	0.875 19-22 15/02S | USD | 2,343,868.82 | 93.09 | 2,173,612.53 | 1.60 |
| 738,000 | IAC FINANCECO CV & 0.875 19-26 15/06S | USD | 694,511.22 | 91.33 | 611,865.89 | 0.45 |
| 1,333,000 | ILLUMINA INC CV 0.50 15-21 15/06S | USD | 1,541,236.65 | 122.98 | 1,488,248.52 | 1.10 |
| 1,671,000 | INSULET CORP	CV 0.375 19-26 01/09S | USD | 1,538,207.23 | 101.48 | 1,539,437.16 | 1.14 |
| 1,200,000 | INTEGRA LIFESCIENCES CV 0.5 20-25 15/08S | USD | 1,104,411.69 | 87.26 | 950,603.84 | 0.70 |
| 200,000 | JPMORGAN CHASE BANK CV 0.00 19-22 18/09U | EUR | 211,550.00 | 103.54 | 207,075.31 | 0.15 |
| 1,600,000 | JPMORGAN CHASE CV 0.00 18-20 17/07U | USD | 1,372,592.53 | 103.25 | 1,499,659.92 | 1.11 |
| 402,000 | JPMORGAN CHASE FIN CV 0.25 18-23 01/05S | USD | 330,117.02 | 93.75 | 342,143.49 | 0.25 |
| 430,000 | LIBERTY INTERACTIVE  1.75 16-46 30/09Q | USD | 407,811.35 | 133.81 | 522,339.48 | 0.39 |
| 1,656,000 | LIVE NATION CV	2.5  19-23 20/03S | USD | 1,383,588.04 | 94.70 | 1,423,594.60 | 1.05 |
| 855,000 | LUMENTUM HLDG	CV 0.50 19-26 15/12S | USD | 845,918.44 | 101.60 | 788,588.12 | 0.58 |
| 317,000 | MERCADOLIBRE INC	2.00 18-28 15/08S | USD | 273,594.27 | 130.63 | 375,915.08 | 0.28 |
| 3,954,000 | MICROCHIP TECHNOLOGY 1.625 17-27 15/02S | USD | 3,764,892.93 | 103.66 | 3,720,825.17 | 2.74 |
| 1,310,000 | MONGODB INC	CV 0.25 20-26 15/01S | USD | 1,120,187.52 | 97.04 | 1,154,013.97 | 0.85 |
| 2,275,000 | NUANCE COMMUNICATIONS 1.00 16-35 15/12S | USD | 1,900,175.47 | 95.67 | 1,975,841.10 | 1.46 |
| 912,000 | NUVASIVE INC	2.25 16-21 15/03S | USD | 936,445.63 | 104.55 | 865,632.94 | 0.64 |
| 1,300,000 | NUVASIVE INC CV	0.75 20-25 15/03S | USD | 1,168,911.54 | 84.97 | 1,002,794.17 | 0.74 |
| 1,411,000 | OKTA CV 0.125	19-25 01/09S | USD | 1,239,946.97 | 95.77 | 1,226,751.95 | 0.90 |
| 4,051,000 | PALO ALTO NETWORKS CV 0.75 19-23 01/07S | USD | 3,490,153.30 | 96.21 | 3,538,124.16 | 2.61 |
| 1,281,000 | PRICELINE GROUP CV  0.90 15-21 15/09A | USD | 1,288,864.66 | 100.59 | 1,169,822.78 | 0.86 |
| 2,653,000 | PROOFPOINT INC CV 0.250 19-24 15/08S | USD | 2,538,499.25 | 94.49 | 2,275,700.08 | 1.68 |
| 1,298,000 | PURE STORAGE INC CV  0.125 19-23 15/04S | USD | 1,122,849.95 | 86.78 | 1,022,614.45 | 0.75 |
| 600,000 | RINGCENTRAL INC CV  0.0 20-25 01/03U | USD | 535,245.80 | 92.88 | 505,897.79 | 0.37 |
| 1,542,000 | SILICON LABOR INC CV 1.375 17-22 01/03S | USD | 1,585,336.03 | 111.13 | 1,555,693.94 | 1.15 |
| 4,096,000 | SPLUNK INC	CV 0.500 18-23 15/09S | USD | 3,903,452.94 | 107.20 | 3,986,135.48 | 2.95 |
| 308,000 | SPLUNK INC	CV 1.1250 18-25 15/09S | USD | 307,291.05 | 109.97 | 307,486.92 | 0.23 |
| 926,000 | SQUARE INC CV	20-25 01/03S | USD | 828,524.14 | 86.63 | 728,263.53 | 0.54 |
| 1,095,000 | SQUARE INC CV 0.50 19-23 15/05S | USD | 1,169,920.67 | 103.20 | 1,025,909.01 | 0.76 |
| 744,000 | WORKDAY INC  0.25	17-22 01/10S | USD | 880,058.52 | 111.25 | 751,366.68 | 0.55 |
| 1,324,000 | ZYNGA INC	0.25 19-24 01/06S | USD | 1,184,740.11 | 104.04 | 1,250,522.37 | 0.92 |
|  | TOTAL UNITED STATES OF AMERICA |  | 52,521,711.91 |  | 51,487,801.03 | 37.98 |
|  | TOTAL CONVERTIBLE BONDS |  | 118,339,660.61 |  | 115,340,591.83 | 85.05 |
|  | FLOATING RATES BONDS |  |  |  |  |  |
|  | UNITED KINGDOM |  |  |  |  |  |
| 870,000 | BARCLAYS BANK PLC  00.0 20-25 08/08U | USD | 832,650.81 | 96.52 | 762,299.66 | 0.56 |
|  | TOTAL UNITED KINGDOM |  | 832,650.81 |  | 762,299.66 | 0.56 |

| Quantity  Description | Ccy | Cost | Value per security | Market value (see notes) | % of net assets |
| --- | --- | --- | --- | --- | --- |
| UNITED STATES OF AMERICA |  |  |  |  |  |
| 1,407,000  NEW RELIC INC	0.5 18-23 01/05S | USD | 1,434,639.37 | 84.83 | 1,083,562.48 | 0.80 |
| TOTAL UNITED STATES OF AMERICA |  | 1,434,639.37 |  | 1,083,562.48 | 0.80 |
| TOTAL FLOATING RATES BONDS |  | 2,267,290.18 |  | 1,845,862.14 | 1.36 |
| TOTAL TRANSFERABLE SECURITIES AND MONEY MARKET INSTRUMENTS ADMITTED TO AN OFFICIAL STOCK EXCHANGE OR DEALT IN ON ANOTHER REGULATED MARKET |  | 125,051,668.68 |  | 121,360,858.82 | 89.49 |
| OTHER TRANSFERABLE SECURITIES |  |  |  |  |  |
| CONVERTIBLE BONDS |  |  |  |  |  |
| CAYMAN ISLANDS |  |  |  |  |  |
| 1,597,000  PINDUODUO	19-24 01/10U | USD | 1,595,280.27 | 108.49 | 1,572,805.85 | 1.16 |
| TOTAL CAYMAN ISLANDS |  | 1,595,280.27 |  | 1,572,805.85 | 1.16 |
| CHINA |  |  |  |  |  |
| 900,000  WUXI APPTEC CO CV	0.0 19-24 17/09U | USD | 879,264.16 | 111.86 | 913,948.87 | 0.67 |
| TOTAL CHINA |  | 879,264.16 |  | 913,948.87 | 0.67 |
| MALAYSIA |  |  |  |  |  |
| 897,000  CINDAI CAPITAL LTD 0.00 18-23 08/02U | USD | 819,455.42 | 95.08 | 774,241.74 | 0.57 |
| TOTAL MALAYSIA |  | 819,455.42 |  | 774,241.74 | 0.57 |
| THE NETHERLANDS |  |  |  |  |  |
| 600,000  YANDEX NV CV	0.75 20-25 03/031 | USD | 551,419.90 | 86.80 | 472,801.20 | 0.35 |
| TOTAL THE NETHERLANDS |  | 551,419.90 |  | 472,801.20 | 0.35 |
| UNITED STATES OF AMERICA |  |  |  |  |  |
| 500,000  BANDWIDTH	CV  0.25 20-26 01/03S | USD | 458,778.73 | 97.42 | 442,206.43 | 0.33 |
| 1,100,000  COUPA SOFTWARE CV & 0.125 19-25 15/06S | USD | 1,139,147.48 | 110.75 | 1,105,980.38 | 0.82 |
| 700,000  SNAP INC CV	0.75 19-26 01/08S | USD | 704,722.24 | 88.23 | 560,698.46 | 0.41 |
| TOTAL UNITED STATES OF AMERICA |  | 2,302,648.45 |  | 2,108,885.27 | 1.56 |
| TOTAL CONVERTIBLE BONDS |  | 6,148,068.20 |  | 5,842,682.93 | 4.31 |
| TOTAL OTHER TRANSFERABLE SECURITIES |  | 6,148,068.20 |  | 5,842,682.93 | 4.31 |
| DERIVATIVE INSTRUMENTS |  |  |  |  |  |
| OPTIONS |  |  |  |  |  |
| FRANCE |  |  |  |  |  |
| 60  MICHELIN	DEC 120.00 18.12.20 CALL | EUR | 24,180.00 | 0.36 | 2,160.00 | 0.00 |
| 800  TOTAL	DEC 48.000 18.12.20 CALL | EUR | 83,588.72 | 0.45 | 36,000.00 | 0.03 |
| 6,316  TOTAL	JUN 54.000 19.06.20 CALL | EUR | 55,580.80 | 0.03 | 1,894.80 | 0.00 |
| 900  VINCI	JUN 88.000 18.06.21 CALL | EUR | 109,451.23 | 5.19 | 46,710.00 | 0.03 |
| TOTAL FRANCE |  | 272,800.75 |  | 86,764.80 | 0.06 |
| GERMANY |  |  |  |  |  |
| 30  ADIDAS	JUN 280.00 18.06.21 CALL | EUR | 53,490.00 | 4.43 | 13,290.00 | 0.01 |
| 125  DEUTSCHE POST DEC 36.000 18.12.20 CALL | EUR | 7,625.00 | 0.06 | 750.00 | 0.00 |
| 80  SIEMENS N	DEC 130.00 18.12.20 CALL | EUR | 18,831.90 | 0.11 | 880.00 | 0.00 |
| (17)  WIRECARD AG	JUN 100.00 19.06.20 PUT | EUR | (21,084.80) | 12.85 | (21,845.00) | (0.02) |
| (17)  WIRECARD AG  DEC 140.00 18.12.20 CALL | EUR | (16,400.93) | 7.56 | (12,852.00) | (0.01) |
| 68  WIRECARD AG  JUN 130.00 19.06.20 CALL | EUR | 57,082.22 | 4.70 | 31,960.00 | 0.03 |
| TOTAL GERMANY |  | 99,543.39 |  | 12,183.00 | 0.01 |

| Quantity | Description | Ccy | Cost | Value per security | Market value (see notes) | % of net assets |
| --- | --- | --- | --- | --- | --- | --- |
|  | UNITED KINGDOM |  |  |  |  |  |
| 188 | BP	DEC 5.200 18.12.20 CALL | GBP | 45,875.92 | 0.03 | 6,371.15 | 0.00 |
|  | TOTAL UNITED KINGDOM |  | 45,875.92 |  | 6,371.15 | 0.00 |
|  | UNITED STATES OF AMERICA |  |  |  |  |  |
| 45 | ALIBABA GR ADR JAN 220.00 15.01.21 CALL | USD | 88,091.58 | 10.78 | 44,037.95 | 0.03 |
| (300) | DISH NETWORK  JAN 35.000 15.01.21 PUT | USD | (107,938.56) | 16.10 | (438,473.06) | (0.32) |
| 150 | DISH NETWORK  JAN 40.000 15.01.21 CALL | USD | 63,167.41 | 0.73 | 9,872.45 | 0.01 |
| 300 | DISH NETWORK  JAN 42.500 15.01.21 CALL | USD | 156,926.06 | 0.88 | 23,830.06 | 0.02 |
| 400 | SONY	JUN 80.000 18.06.21 CALL | USD | 213,043.21 | 2.60 | 94,412.42 | 0.07 |
|  | TOTAL UNITED STATES OF AMERICA |  | 413,289.70 |  | (266,320.18) | (0.19) |
|  | TOTAL OPTIONS |  | 831,509.76 |  | (161,001.23) | (0.12) |
|  | TOTAL DERIVATIVE INSTRUMENTS |  | 831,509.76 |  | (161,001.23) | (0.12) |
|  | TOTAL INVESTMENTS IN SECURITIES |  | 132,031,246.64 |  | 127,042,540.52 | 93.68 |
|  | Cash/(bank overdraft) |  |  |  | 5,111,926.40 | 3.77 |
|  | Other assets and liabilities |  |  |  | 3,463,930.29 | 2.55 |
|  | TOTAL NET ASSETS |  |  |  | 135,618,397.21 | 100.00 |

Translation (ENDE, 2020-03-31):
# WERTPAPIERBESTAND UND SONSTIGE NETTOVERMÖGENSWERTE
31. März 2020 (in EUR)
| Anzahl | Wertpapierbeschreibung | Währung | Einstands- wert | Kurs pro Anteil | Markt- wert (s. Anmerk.) | % des Netto- vermögens |
| --- | --- | --- | --- | --- | --- | --- |
|  | BÖRSENNOTIERTE ODER AUF SONSTIGEN GEREGELTEN MÄRKTEN GEHANDELTE WERTPAPIERE UND GELDMARKTINSTRUMENTE |  |  |  |  |  |
|  | RENTEN |  |  |  |  |  |
|  | DEUTSCHLAND |  |  |  |  |  |
| 3,600,000 | SYMRISE CV	0.2375 17-24 20/06A | EUR | 4,216,290.00 | 116.59 | 4,197,245.14 | 2.00 |
|  | SUMME DEUTSCHLAND |  | 4,216,290.00 |  | 4,197,245.14 | 2.00 |
|  | FRANKREICH |  |  |  |  |  |
| 1,400,000 | VINCI SA CONV	0.375 17-22 16/02S | USD | 1,471,593.07 | 107.19 | 1,362,277.10 | 0.65 |
|  | SUMME FRANKREICH |  | 1,471,593.07 |  | 1,362,277.10 | 0.65 |
|  | SUMME RENTEN |  | 5,687,883.07 |  | 5,559,522.24 | 2.65 |
|  | WANDELANLEIHEN |  |  |  |  |  |
|  | DEUTSCHLAND |  |  |  |  |  |
| 10,800,000 | BAYER AG CV	0.05 17-20 15/06A | EUR | 11,833,496.57 | 99.22 | 10,716,193.40 | 5.12 |
| 7,500,000 | DELIVERY HERO	0.25 20-24 23/01S | EUR | 7,502,550.00 | 95.51 | 7,163,539.80 | 3.41 |
| 2,000,000 | DELIVERY HERO CV 1.00  20-27 23/01S | EUR | 1,808,000.00 | 95.87 | 1,917,385.90 | 0.91 |
| 10,200,000 | DEUSTCHE WOHNEN CV  0.325 17-24 26/07A | EUR | 11,139,636.24 | 96.37 | 9,829,721.94 | 4.70 |
| 5,100,000 | FRESENIUS REGS CV	0.00 17-24 31/01U | EUR | 5,110,200.00 | 92.17 | 4,700,521.64 | 2.24 |
| 4,900,000 | LEG IMMOBILIEN  CV 0.875 17-25 01/09S | EUR | 5,693,055.39 | 113.52 | 5,562,464.03 | 2.65 |
| 3,100,000 | MTU AERO ENGINES CV 0.05 19-27 18/03A | EUR | 3,231,486.17 | 86.22 | 2,672,848.76 | 1.27 |
| 9,700,000 | RAG STIFTUNG	0.00 17-23 16/03U | EUR | 10,030,236.50 | 92.85 | 9,006,339.52 | 4.29 |
|  | SUMME DEUTSCHLAND |  | 56,348,660.87 |  | 51,569,014.99 | 24.59 |
|  | FRANKREICH |  |  |  |  |  |
| 6,500,000 | ATOS SE CV	0.0 19-24 06/11U | EUR | 7,485,875.00 | 111.10 | 7,221,653.01 | 3.45 |
| 57,270 | EDENRED CV 0.00	19-24 06/09U | EUR | 3,785,311.01 | 60.53 | 3,466,594.11 | 1.65 |
| 31,648 | GENFIT CV DY	3.50 17-22 16/10S | EUR | 929,270.73 | 22.33 | 706,763.33 | 0.34 |
| 2,300,000 | KERING	CV 0.00 19-22 30/09U | EUR | 2,502,759.37 | 98.57 | 2,267,223.69 | 1.08 |
| 3,300,000 | ORANGE SA	0.375 17-21 27/06S | GBP | 3,741,673.20 | 97.23 | 3,624,578.57 | 1.73 |
| 35,177 | ORPEA	0.375 19-27 17/05A | EUR | 5,347,062.33 | 144.07 | 5,050,935.18 | 2.41 |
| 9,121 | REMY COINTREAU CV	0.125 16-26 07/09A | EUR | 1,190,354.40 | 129.71 | 1,182,337.16 | 0.56 |
| 40,000 | SAFRAN SA	0.00 18-23 21/06U | EUR | 5,803,527.19 | 131.20 | 5,248,059.12 | 2.50 |
| 1,300,000 | TECHNIP SA CV	0.875 16-21 25/01S | EUR | 1,378,650.00 | 97.04 | 1,261,569.49 | 0.60 |
| 50,000 | UBISOFT ENTERTAIN CV 0.0  19-24 24/09U | EUR | 6,092,494.02 | 119.33 | 5,966,632.25 | 2.84 |
| 150,000 | VEOLIA ENV CV & 0.00	19-25 01/01U | EUR | 4,710,000.00 | 31.46 | 4,719,557.70 | 2.25 |
|  | SUMME FRANKREICH |  | 42,966,977.25 |  | 40,715,903.61 | 19.41 |
|  | ITALIEN |  |  |  |  |  |
| 5,000,000 | SNAM CV	0.00 17-22 20/03U | EUR | 5,085,128.70 | 103.63 | 5,181,545.55 | 2.47 |
| 5,800,000 | TELECOM ITALIA CV  1.125 15-22 26/03S | EUR | 5,757,215.88 | 95.27 | 5,525,811.67 | 2.63 |
|  | SUMME ITALIEN |  | 10,842,344.58 |  | 10,707,357.22 | 5.10 |
|  | JERSEY |  |  |  |  |  |
| 1,500,000 | BRITISH LND JER CV  0.00 15-20 09/06U | GBP | 1,691,767.72 | 98.93 | 1,676,328.18 | 0.80 |
|  | SUMME JERSEY |  | 1,691,767.72 |  | 1,676,328.18 | 0.80 |

| Anzahl | Wertpapierbeschreibung | Währung | Einstands- | Kurs | Markt- | % des |
| --- | --- | --- | --- | --- | --- | --- |
|  | wert | pro | wert | Netto- |
|  | Anteil | (s. Anmerk.) | vermögens |

|  | LUXEMBURG |  |
| --- | --- | --- |
| 3,100,000 | GRAND CITY PRO CV	0.25 16-22 02/03S | EUR | 3,324,004.18 | 100.72 | 3,122,311.51 | 1.49 |
|  | SUMME LUXEMBURG |  | 3,324,004.18 |  | 3,122,311.51 | 1.49 |
|  | MEXIKO |  |  |  |  |  |
| 5,400,000 | AMERICA MOVIL CV	0.00 15-20 28/05U | EUR | 5,468,526.00 | 99.30 | 5,362,242.39 | 2.56 |
|  | SUMME MEXIKO |  | 5,468,526.00 |  | 5,362,242.39 | 2.56 |
|  | NIEDERLANDE |  |  |  |  |  |
| 7,400,000 | AIRBUS GROUP SE CV  0.00 16-21 14/06U | EUR | 8,492,972.42 | 97.74 | 7,232,959.95 | 3.45 |
| 2,000,000 | ARGENTUM NETHERLAND CV 0.50 19-24 02/10S | EUR | 1,512,500.00 | 73.97 | 1,479,332.52 | 0.71 |
| 3,500,000 | BRENNTAG FINANCE CV 1.875 15-22 02/12S | USD | 3,295,732.17 | 93.77 | 2,979,262.47 | 1.42 |
| 5,600,000 | IBERDROLA INTL CV	0.00 15-22 11/11A | EUR | 5,630,796.83 | 118.00 | 6,608,169.79 | 3.15 |
| 3,600,000 | QIAGEN CV	0.50 17-23 13/09S | USD | 3,274,809.94 | 110.42 | 3,608,756.97 | 1.72 |
| 2,800,000 | QIAGEN NV CV  1 18-24 13/11S | USD | 2,501,427.95 | 105.75 | 2,687,947.71 | 1.28 |
| 1,200,000 | STMICROELECTRONICS  0.00  17-22 03/07A | USD | 1,189,288.93 | 120.16 | 1,309,044.80 | 0.62 |
| 5,600,000 | STMICROELECTRONICS  0.25 17-24 03/07S | USD | 5,731,115.50 | 123.01 | 6,253,286.47 | 2.98 |
|  | SUMME NIEDERLANDE |  | 31,628,643.74 |  | 32,158,760.68 | 15.33 |
|  | SCHWEIZ |  |  |  |  |  |
| 11,420,000 | SIKA	0.15 18-25 05/06A | CHF | 11,058,448.43 | 107.26 | 11,537,209.06 | 5.50 |
|  | SUMME SCHWEIZ |  | 11,058,448.43 |  | 11,537,209.06 | 5.50 |
|  | SPANIEN |  |  |  |  |  |
| 1,700,000 | ALMIRALL SARCV	0.25 18-21 14/12A | EUR | 1,719,014.09 | 90.56 | 1,539,534.75 | 0.73 |
| 2,700,000 | CELLNEX TELECOM SA 1.50 18-26 16/01A | EUR | 2,791,976.78 | 136.17 | 3,676,717.63 | 1.75 |
| 4,500,000 | CELLNEX TELECOM SA CV 0.50 19-28 05/07A | EUR | 4,897,360.46 | 107.57 | 4,840,619.22 | 2.32 |
| 4,000,000 | ENCE ENERGIA RCV	1.25 18-23 05/03S | EUR | 3,965,909.23 | 81.98 | 3,279,027.84 | 1.56 |
|  | SUMME SPANIEN |  | 13,374,260.56 |  | 13,335,899.44 | 6.36 |
|  | VEREINIGTE STAATEN VON AMERIKA |  |  |  |  |  |
| 1,300,000 | JPMORGAN CHASE BANK CV 0.00 19-22 18/09U | EUR | 1,375,250.00 | 103.54 | 1,345,989.53 | 0.64 |
|  | SUMME VEREINIGTE STAATEN VON AMERIKA |  | 1,375,250.00 |  | 1,345,989.53 | 0.64 |
|  | VEREINIGTES KÖNIGREICH |  |  |  |  |  |
| 4,000,000 | OCADO GROUP	CV 0.875 19-25 09/12S | GBP | 4,289,613.03 | 95.34 | 4,307,826.04 | 2.05 |
|  | SUMME VEREINIGTES KÖNIGREICH |  | 4,289,613.03 |  | 4,307,826.04 | 2.05 |
|  | SUMME WANDELANLEIHEN |  | 182,368,496.36 |  | 175,838,842.65 | 83.83 |
|  | SUMME BÖRSENNOTIERTE ODER AUF SONSTIGEN GEREGELTEN MÄRKTEN GEHANDELTE WERTPAPIERE UND GELDMARKTINSTRUMENTE |  | 188,056,379.43 |  | 181,398,364.89 | 86.48 |
|  | DERIVATIVE INSTRUMENTE |  |  |  |  |  |
|  | OPTIONEN |  |  |  |  |  |
|  | DEUTSCHLAND |  |  |  |  |  |
| 150 | ADIDAS	JUN 280.00 18.06.21 CALL | EUR | 267,450.00 | 4.43 | 66,450.00 | 0.03 |
| 500 | DEUTSCHE POST DEC 36.000 18.12.20 CALL | EUR | 30,500.00 | 0.06 | 3,000.00 | 0.00 |
| 725 | ENI SPA	DEC 17.00 18.12.20 CALL | EUR | 279,125.00 | 0.00 | 725.00 | 0.00 |
| 475 | SIEMENS N	DEC 130.00 18.12.20 CALL | EUR | 111,814.43 | 0.11 | 5,225.00 | 0.00 |
| (100) | WIRECARD AG	JUN 100.00 19.06.20 PUT | EUR | (124,028.21) | 12.85 | (128,500.00) | (0.06) |
| (100) | WIRECARD AG  DEC 140.00 18.12.20 CALL | EUR | (96,476.07) | 7.56 | (75,600.00) | (0.04) |
| 400 | WIRECARD AG  JUN 130.00 19.06.20 CALL | EUR | 335,777.76 | 4.70 | 188,000.00 | 0.10 |
|  | SUMME DEUTSCHLAND |  | 804,162.91 |  | 59,300.00 | 0.03 |
|  | FRANKREICH |  |  |  |  |  |
| 300 | MICHELIN	DEC 120.00 18.12.20 CALL | EUR | 123,680.00 | 0.36 | 10,800.00 | 0.01 |
| 1,200 | TOTAL	DEC 48.000 18.12.20 CALL | EUR | 125,383.08 | 0.45 | 54,000.00 | 0.03 |
| 10,526 | TOTAL	JUN 54.000 19.06.20 CALL | EUR | 92,628.80 | 0.03 | 3,157.80 | 0.00 |

| Anzahl | Wertpapierbeschreibung | Währung | Einstands- wert | Kurs pro Anteil | Markt- wert (s. Anmerk.) | % des Netto- vermögens |
| --- | --- | --- | --- | --- | --- | --- |
| 4,400 | VINCI	JUN 88.000 18.06.21 CALL | EUR | 534,856.89 | 5.19 | 228,360.00 | 0.10 |
|  | SUMME FRANKREICH |  | 876,548.77 |  | 296,317.80 | 0.14 |
|  | SPANIEN |  |  |  |  |  |
| 6,300 | CAIXABANK	DEC 4.00 18.12.20 CALL | EUR | 242,602.00 | 0.01 | 6,300.00 | 0.00 |
|  | SUMME SPANIEN |  | 242,602.00 |  | 6,300.00 | 0.00 |
|  | VEREINIGTES KÖNIGREICH |  |  |  |  |  |
| 600 | BP	JUN 5.200 19.06.20 CALL | GBP | 91,829.53 | 0.00 | 1,694.46 | 0.00 |
| 647 | BP	DEC 5.200 18.12.20 CALL | GBP | 157,886.52 | 0.03 | 21,926.26 | 0.01 |
|  | SUMME VEREINIGTES KÖNIGREICH |  | 249,716.05 |  | 23,620.72 | 0.01 |
|  | SUMME OPTIONEN |  | 2,173,029.73 |  | 385,538.52 | 0.18 |
|  | SUMME DERIVATIVE INSTRUMENTE |  | 2,173,029.73 |  | 385,538.52 | 0.18 |
|  | SUMME DES WERTPAPIERBESTANDES |  | 190,229,409.16 |  | 181,783,903.41 | 86.66 |
|  | Bankguthaben/(-überziehung) |  |  |  | 30,128,352.63 | 14.36 |
|  | Sonstige Nettovermögenswerte/(-Verbindlichkeiten) |  |  |  | (2,135,262.75) | (1.02) |
|  | SUMME NETTOVERMÖGEN |  |  |  | 209,776,993.29 | 100.00 |