| CCY | Portfolio designation | Purchase  1) | Sale  1) | Inventory as |  | Price | Market value | % of |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
|  |  |  |  | of 31.12.2019 |  |  | in EUR | NAV |
| INSTRUMENTS AND OTHER ASSETS |
| LISTED INSTRUMENTS |
| Equities |
| CHF | APG SGA SA | 0 | 0 | 1'100 |  | 284.00 | 287'423 | 2.52% |
| CHF | Ascom Holding AG | 0 | 11'400 | 18'000 |  | 10.52 | 174'220 | 1.52% |
| CHF | Implenia AG | 600 | 0 | 5'000 |  | 39.26 | 180'606 | 1.58% |
| CHF | Rieter Holding AG | 0 | 0 | 2'100 |  | 138.10 | 266'823 | 2.34% |
| CHF | Swatch Group | 1'350 | 0 | 1'350 |  | 270.00 | 335'358 | 2.93% |
| EUR | Beiersdorf AG | 3'000 | 0 | 3'000 |  | 106.65 | 319'950 | 2.80% |
| EUR | Bertrandt AG | 2'450 | 250 | 7'000 |  | 56.30 | 394'100 | 3.45% |
| EUR | bet-at-home.com AG | 500 | 2'000 | 4'500 | 2 | 52.90 | 238'050 | 2.08% |
| EUR | Bijou Brigitte AG | 0 | 1'500 | 2'700 |  | 48.40 | 130'680 | 1.14% |
| EUR | Bpost | 0 | 5'000 | 20'000 |  | 10.30 | 206'000 | 1.80% |
| EUR | CTS Eventim AG | 0 | 0 | 9'000 |  | 56.05 | 504'450 | 4.41% |
| EUR | Fielmann AG | 0 | 1'000 | 8'000 |  | 72.00 | 576'000 | 5.04% |
| EUR | Fuchs Petrolub Vorz. Akt. Stimmrechtlos | 1'000 | 0 | 9'000 | 2 | 44.16 | 397'440 | 3.48% |
| EUR | Hella KG Hueck | 0 | 0 | 8'000 | 2 | 49.34 | 394'720 | 3.45% |
| EUR | Hugo Boss | 11'500 | 0 | 11'500 |  | 43.26 | 497'490 | 4.35% |
| EUR | Immofinanz | 0 | 6'000 | 20'000 |  | 23.90 | 478'000 | 4.18% |
| EUR | Kapsch | 1'500 | 2'500 | 14'000 |  | 28.70 | 401'800 | 3.52% |
| EUR | Mayr-MeInhof Karton AG | 0 | 0 | 5'000 |  | 119.60 | 598'000 | 5.23% |
| EUR | METRO Wholesale & Food Specialist | 33'000 | 39'000 | 30'000 |  | 14.35 | 430'500 | 3.77% |
| EUR | Oesterreichische Post AG | 0 | 0 | 15'000 |  | 34.00 | 510'000 | 4.46% |
| EUR | OMV AG | 2'400 | 0 | 9'000 |  | 50.08 | 450'720 | 3.94% |
| EUR | Pfeiffer Vacuum Technology AG | 2'900 | 0 | 2'900 |  | 159.00 | 461'100 | 4.04% |
| EUR | RTL Group | 0 | 0 | 6'300 |  | 43.98 | 277'074 | 2.42% |
| EUR | Signify | 1'800 | 0 | 9'000 |  | 27.86 | 250'740 | 2.19% |
| EUR | Software | 0 | 6'000 | 17'000 |  | 31.10 | 528'700 | 4.63% |
| EUR | Strabag SE | 0 | 0 | 9'600 |  | 31.00 | 297'600 | 2.60% |
| EUR | TUI AG | 11'400 | 0 | 30'000 |  | 11.40 | 342'000 | 2.99% |
| EUR | Wacker Chemie AG | 1'500 | 0 | 4'500 |  | 67.64 | 304'380 | 2.66% |
| EUR | Zalando | 0 | 7'100 | 4'400 |  | 45.18 | 198'792 | 1.74% |
|  |  |  |  |  |  | 10'432'716 | 91.30% |
| TOTAL LISTED INSTUMENTS |  |  |  |  |  | 10'432'716 | 91.30% |

Translation (ENDE, 2019-12-31):
| WHG | Portfolio Bezeichnung | Käufe  1) | Verkäufe  1) | Bestand per |  | Kurs | Kurswert | % des |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
|  |  |  |  | 31.12.2019 |  |  | in EUR | NIW |
| WERTPAPIERE UND ANDERE ANLAGEWERTE |
| BÖRSENNOTIERTE ANLAGEWERTE |
| Aktien |
| CHF | APG SGA SA | 0 | 0 | 1'100 |  | 284.00 | 287'423 | 2.52% |
| CHF | Ascom Holding AG | 0 | 11'400 | 18'000 |  | 10.52 | 174'220 | 1.52% |
| CHF | Implenia AG | 600 | 0 | 5'000 |  | 39.26 | 180'606 | 1.58% |
| CHF | Rieter Holding AG | 0 | 0 | 2'100 |  | 138.10 | 266'823 | 2.34% |
| CHF | Swatch Group | 1'350 | 0 | 1'350 |  | 270.00 | 335'358 | 2.93% |
| EUR | Beiersdorf AG | 3'000 | 0 | 3'000 |  | 106.65 | 319'950 | 2.80% |
| EUR | Bertrandt AG | 2'450 | 250 | 7'000 |  | 56.30 | 394'100 | 3.45% |
| EUR | bet-at-home.com AG | 500 | 2'000 | 4'500 | 2 | 52.90 | 238'050 | 2.08% |
| EUR | Bijou Brigitte AG | 0 | 1'500 | 2'700 |  | 48.40 | 130'680 | 1.14% |
| EUR | Bpost | 0 | 5'000 | 20'000 |  | 10.30 | 206'000 | 1.80% |
| EUR | CTS Eventim AG | 0 | 0 | 9'000 |  | 56.05 | 504'450 | 4.41% |
| EUR | Fielmann AG | 0 | 1'000 | 8'000 |  | 72.00 | 576'000 | 5.04% |
| EUR | Fuchs Petrolub Vorz. Akt. Stimmrechtlos | 1'000 | 0 | 9'000 | 2 | 44.16 | 397'440 | 3.48% |
| EUR | Hella KG Hueck | 0 | 0 | 8'000 | 2 | 49.34 | 394'720 | 3.45% |
| EUR | Hugo Boss | 11'500 | 0 | 11'500 |  | 43.26 | 497'490 | 4.35% |
| EUR | Immofinanz | 0 | 6'000 | 20'000 |  | 23.90 | 478'000 | 4.18% |
| EUR | Kapsch | 1'500 | 2'500 | 14'000 |  | 28.70 | 401'800 | 3.52% |
| EUR | Mayr-MeInhof Karton AG | 0 | 0 | 5'000 |  | 119.60 | 598'000 | 5.23% |
| EUR | METRO Wholesale & Food Specialist | 33'000 | 39'000 | 30'000 |  | 14.35 | 430'500 | 3.77% |
| EUR | Oesterreichische Post AG | 0 | 0 | 15'000 |  | 34.00 | 510'000 | 4.46% |
| EUR | OMV AG | 2'400 | 0 | 9'000 |  | 50.08 | 450'720 | 3.94% |
| EUR | Pfeiffer Vacuum Technology AG | 2'900 | 0 | 2'900 |  | 159.00 | 461'100 | 4.04% |
| EUR | RTL Group | 0 | 0 | 6'300 |  | 43.98 | 277'074 | 2.42% |
| EUR | Signify | 1'800 | 0 | 9'000 |  | 27.86 | 250'740 | 2.19% |
| EUR | Software | 0 | 6'000 | 17'000 |  | 31.10 | 528'700 | 4.63% |
| EUR | Strabag SE | 0 | 0 | 9'600 |  | 31.00 | 297'600 | 2.60% |
| EUR | TUI AG | 11'400 | 0 | 30'000 |  | 11.40 | 342'000 | 2.99% |
| EUR | Wacker Chemie AG | 1'500 | 0 | 4'500 |  | 67.64 | 304'380 | 2.66% |
| EUR | Zalando | 0 | 7'100 | 4'400 |  | 45.18 | 198'792 | 1.74% |
|  |  |  |  |  |  | 10'432'716 | 91.30% |
| TOTAL BÖRSENNOTIERTE ANLAGEWERTE |  |  |  |  |  | 10'432'716 | 91.30% |