# Comgest Growth America
#### SCHEDULE OF INVESTMENTS
As at 31 December 2019 (expressed in USD)
Quantity/	Acquisition	Fair Value	% Net
Security	Face value	Currency	cost USD	USD	Assets
Internet software
| Activision Blizzard Inc | 97,000 | USD | 4,571,867 | 5,763,740 | 2.59 |
| --- | --- | --- | --- | --- | --- |
| Alphabet Inc - A Shares | 1,900 | USD | 1,331,688 | 2,544,841 | 1.14 |
| Facebook Inc - A Shares | 34,000 | USD | 6,547,733 | 6,978,500 | 3.14 |
| Intuit Inc | 30,600 | USD | 5,559,594 | 8,015,058 | 3.60 |
| Microsoft Corp | 109,000 | USD | 9,431,832 | 17,189,300 | 7.73 |
| Oracle Corp | 205,000 | USD | 9,795,883 | 10,860,900 | 4.88 |
| Paychex Inc | 44,000 | USD | 2,625,413 | 3,742,640 | 1.68 |
| Tyler Technologies Inc | 25,000 | USD | 5,037,928 | 7,500,500 | 3.37 |
| Verisk Analytics Inc | 27,500 | USD | 2,503,234 | 4,106,850 | 1.85 |
|  |  |  | 47,405,172 | 66,702,329 | 29.98 |
| Office equipment and computers Apple Inc | 35,200 | USD | 6,842,965 | 10,336,480 | 4.65 |
| Avery Dennison Corp | 48,300 | USD | 5,234,205 | 6,318,606 | 2.84 |
| Cisco Systems Inc | 203,000 | USD | 8,518,304 | 9,735,880 | 4.38 |
|  |  |  | 20,595,474 | 26,390,966 | 11.87 |
| Other services Visa Inc - A Shares | 57,600 | USD | 6,537,480 | 10,823,040 | 4.87 |
|  |  |  | 6,537,480 | 10,823,040 | 4.87 |
| Pharmaceuticals and cosmetics Becton Dickinson and Co | 45,800 | USD | 8,878,051 | 12,456,226 | 5.60 |
| Eli Lilly & Co | 79,300 | USD | 7,746,466 | 10,422,399 | 4.69 |
| Johnson & Johnson | 67,500 | USD | 8,222,294 | 9,846,225 | 4.43 |
|  |  |  | 24,846,811 | 32,724,850 | 14.72 |
| Public services CMS Energy Corp | 146,000 | USD | 8,006,845 | 9,174,640 | 4.13 |
|  |  |  | 8,006,845 | 9,174,640 | 4.13 |
| Retail Amazon.com Inc | 4,500 | USD | 6,743,333 | 8,315,280 | 3.74 |
| Costco Wholesale Corp | 6,700 | USD | 1,160,856 | 1,969,264 | 0.89 |
| Ulta Beauty Inc | 10,400 | USD | 2,822,634 | 2,632,656 | 1.18 |
| Walmart Inc | 69,000 | USD | 6,218,039 | 8,199,960 | 3.69 |
|  |  |  | 16,944,862 | 21,117,160 | 9.50 |
|  |  |  |  |  |  |
| Total United States of America |  |  | 156,567,314 | 205,505,759 | 92.42 |
|  |  |  |  |  |  |
| Equity securities |  |  | 165,253,482 | 217,304,559 | 97.73 |
|  |  |  |  |  |  |
| Transferable securities admitted to an official stock exchange | listing |  | 165,253,482 | 217,304,559 | 97.73 |

Translation (ENDE, 2019-12-31):
# Comgest Growth America
WESENTLICHE BESTANDSVERÄNDERUNGEN im Geschäftsjahr zum 31. Dezember 2019
| Käufe |  |  |  |
| --- | --- | --- | --- |
|  |  |  | Prozentualer Anteil |
| Wertpapier | Stück | Betrag (USD) | Käufe |
| Microsoft Corp | 49.700 | 6.355.350 | 7,32 |
| CMS Energy Corp | 104.000 | 5.967.058 | 6,88 |
| Cisco Systems Inc | 121.000 | 5.931.433 | 6,83 |
| Eli Lilly & Co | 41.300 | 4.759.816 | 5,48 |
| Apple Inc | 22.200 | 4.391.562 | 5,06 |
| Oracle Corp | 78.000 | 4.311.636 | 4,97 |
| Visa Inc – A-Aktien | 25.600 | 4.261.946 | 4,91 |
| Amazon.com Inc | 2.200 | 4.002.771 | 4,61 |
| Comcast Corp – A-Aktien | 88.900 | 3.880.157 | 4,47 |
| Activision Blizzard Inc | 82.100 | 3.846.440 | 4,43 |
| Becton Dickinson and Co | 14.000 | 3.533.100 | 4,07 |
| Medtronic PLC | 31.500 | 3.321.308 | 3,83 |
| Intuit Inc | 12.300 | 3.211.850 | 3,70 |
| United Technologies Corp | 24.500 | 3.165.505 | 3,65 |
| Johnson & Johnson | 21.500 | 2.933.815 | 3,38 |
| Facebook Inc – A-Aktien | 14.800 | 2.883.205 | 3,32 |
| Equifax Inc | 22.800 | 2.831.912 | 3,26 |
| Walmart Inc | 23.700 | 2.677.883 | 3,09 |
| Ulta Beauty Inc | 7.400 | 2.133.845 | 2,46 |
| Tyler Technologies Inc | 8.000 | 1.963.360 | 2,26 |
| Avery Dennison Corp | 16.300 | 1.924.384 | 2,22 |
| BioMarin Pharmaceutical Inc | 23.000 | 1.821.419 | 2,10 |
| Aramark | 49.000 | 1.803.003 | 2,08 |
| Omnicom Group Inc | 13.100 | 1.044.266 | 1,20 |
| Verisk Analytics Inc | 6.500 | 944.816 | 1,09 |
| Paychex Inc | 11.000 | 926.758 | 1,07 |