# Schedule of investments as at 31 July 2021
| Holdings | Financial assets at fair value through profit or loss | Fair value SEK |  | % of net assets |
| --- | --- | --- | --- | --- |
|  | Exchange traded funds: 43.84% (2020: 16.50%) |  |  |  |
|  | Ireland: 33.76% (2020: 13.14%) |  |  |  |
|  | Funds: 33.76% (2020: 13.14%) |  |  |  |
| 3,500 | db x-trackers MSCI World Consumer Staples UCITS ETF | 1,321,612 |  | 0.37 |
| 32,954 | db x-trackers USD High Yield Corporate Bond UCITS ETF | 4,250,541 |  | 1.18 |
| 40,343 | HSBC MSCI World UCITS ETF | 10,671,381 |  | 2.95 |
| 19,129 | Invesco Emerging Markets USD Bond UCITS ETF | 3,203,702 |  | 0.89 |
| 2,225 | iShares Edge MSCI World Minimum Volatility UCITS ETF | 1,136,395 |  | 0.32 |
| 140,000 | iShares Edge MSCI World Multifactor UCITS ETF | 11,431,407 |  | 3.16 |
| 26,908 | iShares Global Corporate Bond UCITS ETF | 24,872,099 |  | 6.88 |
| 9,000 | iShares Global High Yield Corporate Bond UCITS ETF | 7,699,164 |  | 2.13 |
| 4,500 | iShares Global Inflation Linked Government Bond UCITS ETF | 7,416,713 |  | 2.05 |
| 13,381 | iShares JP Morgan $ Emerging Markets Bond UCITS ETF | 12,868,243 |  | 3.56 |
| 42,301 | iShares MSCI World ESG Screened UCITS ETF | 2,857,830 |  | 0.79 |
| 11,549 | iShares USD Aggregate Bond UCITS ETF | 11,000,121 |  | 3.04 |
| 12,154 | iShares USD Corporate Bond UCITS ETF | 13,591,513 |  | 3.76 |
| 8,216 | iShares USD High Yield Corporate Bond UCITS ETF | 7,361,083 |  | 2.04 |
| 8,517 | SPDR Bloomberg Barclays Global Aggregate Bond UCITS ETF | 2,327,443 |  | 0.64 |
|  | Total Ireland |   122,009,247 |  | 	33.76 |
|  | Luxembourg: 9.18% (2020: 3.36%) |  |  |  |
|  | Funds: 9.18% (2020: 3.36%) |  |  |  |
| 17,776 | Amundi Asset Management Index FTSE Global UCITS ETF | 12,058,889 |  | 3.34 |
| 9,700 | Amundi Asset Management Index US Corporation SRI UCITS ETF | 5,247,700 |  | 1.45 |
| 100,000 | Amundi Asset Management MSCI Emerging Markets UCITS ETF | 5,082,598 |  | 1.41 |
| 34,632 | db x-trackers Harvest CSI300 UCITS ETF | 4,357,406 |  | 1.21 |
| 7,710 | db x-trackers II Barclays Global Aggregate Bond UCITS ETF | 1,814,444 |  | 0.50 |
| 14,003 | db x-trackers Nikkei 225 UCITS ETF | 3,123,116 |  | 0.86 |
| 3,500 | db x-trackers S&P Global Infrastructure Swap UCITS ETF | 1,493,018 |  | 0.41 |
|  | Total Luxembourg | 	33,177,171 |  | 	9.18 |
|  | Sweden: 0.90% (2020: 0.00%) |  |  |  |
|  | Funds: 0.90% (2020: 0.00%) |  |  |  |
| 5,000 | XACT Sverige UCITS ETF | 3,240,000 |  | 0.90 |
|  | Total Sweden | 	3,240,000 |  | 	0.90 |
|  | Total exchange traded funds |   158,426,418 |  | 	43.84 |
|  | Equities: 56.19% (2020: 82.42%) |  |  |  |
|  | Belgium: 5.48% (2020: 2.83%) |  |  |  |
|  | Consumer, cyclical: 5.48% (2020: 0.00%) |  |  |  |
| 14,371 | D'Ieteren | 19,808,849 |  | 5.48 |
|  | Consumer, non-cyclical: 0.00% (2020: 2.83%) | – |  | – |
|  | Total Belgium | 	19,808,849 |  | 	5.48 |

Movestic Avancera 85
Schedule of investments as at 31 July 2021 (continued)
| Holdings | Financial assets at fair value through profit or loss | Fair value SEK |  | % of net assets |
| --- | --- | --- | --- | --- |
|  | Equities: 56.19% (2020: 82.42%) (continued) |  |  |  |
|  | Denmark: 14.47% (2020: 4.16%) |  |  |  |
|  | Consumer, non-cyclical: 2.67% (2020: 4.16%) |  |  |  |
| 54,768 | Scandinavian Tobacco | 9,653,106 |  | 2.67 |
|  | Financial: 8.37% (2020: 0.00%) |  |  |  |
| 21,732 | Jyske Bank | 9,079,599 |  | 2.51 |
| 10,291 | Ringkjoebing Landbobank | 10,050,199 |  | 2.78 |
| 42,154 | Sydbank | 11,107,166 |  | 3.08 |
|  | Industrial: 3.43% (2020: 0.00%) |  |  |  |
| 8,999 | ChemoMetec | 12,392,675 |  | 3.43 |
|  | Total Denmark | 	52,282,745 |  | 	14.47 |
|  | Germany: 9.72% (2020: 14.33%) |  |  |  |
|  | Communications: 5.31% (2020: 0.00%) |  |  |  |
| 150,322 | ADVA Optical Networking | 19,201,882 |  | 5.31 |
|  | Consumer, cyclical: 0.00% (2020: 1.38%) | – |  | – |
|  | Consumer, non-cyclical: 0.00% (2020: 6.30%) | – |  | – |
|  | Financial: 4.41% (2020: 6.65%) |  |  |  |
| 39,258 | DWS | 15,933,451 |  | 4.41 |
|  | Total Germany | 	35,135,333 |  | 	9.72 |
|  | Liechtenstein: 0.00% (2020: 1.34%) | – |  | – |
|  | Financial: 0.00% (2020: 1.34%) | – |  | – |
|  | Netherlands: 0.00% (2020: 18.42%) | – |  | – |
|  | Consumer, cyclical: 0.00% (2020: 8.56%) | – |  | – |
|  | Consumer, non-cyclical: 0.00% (2020: 3.51%) | – |  | – |
|  | Financial: 0.00% (2020: 6.35%) | – |  | – |
|  | Norway: 12.72% (2020: 11.80%) |  |  |  |
|  | Communications: 3.25% (2020: 0.00%) |  |  |  |
| 165,912 | Pexip | 11,746,771 |  | 3.25 |
|  | Energy: 3.85% (2020: 0.00%) |  |  |  |
| 731,950 | Aker Carbon Capture | 13,921,625 |  | 3.85 |
|  | Financial: 5.62% (2020: 9.94%) |  |  |  |
| 11,955 | Olav Thon Eiendomsselskap | 2,230,752 |  | 0.62 |
| 76,082 | SpareBank 1 SMN | 9,084,032 |  | 2.51 |

Movestic Avancera 85
Schedule of investments as at 31 July 2021 (continued)
| Holdings | Financial assets at fair value through profit or loss | Fair value SEK |  | % of net assets |
| --- | --- | --- | --- | --- |
|  | Equities: 56.19% (2020: 82.42%) (continued) |  |  |  |
|  | Norway: 12.72% (2020: 11.80%) (continued) |  |  |  |
|  | Financial: 5.62% (2020: 9.94%) (continued) |  |  |  |
| 79,678 | SpareBank 1 SR-Bank | 8,977,968 |  | 2.49 |
|  | Technology: 0.00% (2020: 1.86%) | – |  | – |
|  | Total Norway | 	45,961,148 |  | 	12.72 |
|  | Spain: 2.19% (2020: 3.60%) |  |  |  |
|  | Financial: 2.19% (2020: 1.48%) |  |  |  |
| 79,734 | Arima Real Estate SOCIMI REIT | 7,891,003 |  | 2.19 |
|  | Industrial: 0.00% (2020: 2.12%) | – |  | – |
|  | Total Spain | 	7,891,003 |  | 	2.19 |
|  | Sweden: 11.61% (2020: 11.43%) |  |  |  |
|  | Basic materials: 3.44% (2020: 0.00%) |  |  |  |
| 282,800 | SSAB | 12,440,372 |  | 3.44 |
|  | Consumer, cyclical: 0.00% (2020: 4.17%) | – |  | – |
|  | Consumer, non-cyclical: 5.12% (2020: 0.00%) |  |  |  |
| 27,421 | Axfood Aktiebolag | 6,389,093 |  | 1.77 |
| 41,982 | Loomis | 12,120,203 |  | 3.35 |
|  | Financial: 3.05% (2020: 4.49%) |  |  |  |
| 112,616 | Dios Fastigheter | 11,008,214 |  | 3.05 |
|  | Industrial: 0.00% (2020: 2.77%) | – |  | – |
|  | Total Sweden | 	41,957,882 |  | 	11.61 |
|  | Switzerland: 0.00% (2020: 14.51%) | – |  | – |
|  | Communications: 0.00% (2020: 2.44%) | – |  | – |
|  | Financial: 0.00% (2020: 7.76%) | – |  | – |
|  | Utilities: 0.00% (2020: 4.31%) | – |  | – |
|  | Total equities |   203,036,960 |  | 	56.19 |

Movestic Avancera 85
Schedule of investments as at 31 July 2021 (continued)
|  | Financial assets at fair value through profit or loss |  |  |  |  |
| --- | --- | --- | --- | --- | --- |
|  | Financial derivative instruments: 0.95% (2020: 0.41%) |  |  |  |  |
| Counterparty | Total return swaps - unrealised gains: 0.95% (2020: 0.41%) | Notional SEK | Unrealised gain SEK |  | % of net assets |
|  | Morgan Stanley Swap |  |  |  |  |
| Morgan Stanley | Movestic Avancera 85 Reference Portfolio Leg | 361,743,052 | 3,441,608 |  | 0.95 |
|  | Total total return swaps - unrealised gains |  | 3,441,608 |  | 0.95 |
|  |  |  |  |  |  |
|  | Total financial derivative instruments |  | 3,441,608 |  | 0.95 |
|  |  |  |  |  |  |
|  | Total financial assets at fair value through profit or loss |  | 364,904,986 |  | 100.98 |
|  | Financial liabilities at fair value through profit or loss |  |  |  |  |
|  | Financial derivative instruments: (6.96%) (2020: (0.15%)) |  |  |  |  |
| Counterparty | Total return swaps - unrealised losses: (6.96%) (2020: (0.15%)) | Notional SEK | Unrealised loss SEK |  | % of net assets |
|  | Morgan Stanley Swap |  |  |  |  |
| Morgan Stanley | Movestic Avancera 85 Financing Leg | (361,463,378) | (25,169,298) |  | (6.96) |
|  | Total total return swaps - unrealised losses |  | (25,169,298) |  | (6.96) |
|  |  |  |  |  |  |
|  | Total financial derivative instruments |  | (25,169,298) |  | (6.96) |
|  |  |  |  |  |  |
|  | Total financial liabilities at fair value through profit or loss |  | (25,169,298) |  | (6.96) |
|  |  |  | Fair value SEK |  | % of net assets |
|  | Total value of investments |  |  |  |  |
|  | (Cost: SEK 330,498,603) |  | 339,735,688 |  | 94.02 |
|  | Cash and cash equivalents |  | 57,279 |  | 0.02 |
|  | Due from broker |  | 24,275,025 |  | 6.72 |
|  | Other net liabilities |  | (2,709,842) |  | (0.76) |
|  | Net assets attributable to holders of redeemable participating shares |   361,358,150 |  | 	100.00 |

| Analysis of portfolio | Fair value SEK |  | % of total assets |
| --- | --- | --- | --- |
| Transferable securities admitted to official stock exchange listing or dealt in/on another regulated market | 361,463,378 |  | 92.76 |
| Over the counter financial derivative instruments | 3,441,608 |  | 0.88 |
| Cash and cash equivalents | 57,279 |  | 0.01 |
| Due from broker | 24,275,025 |  | 6.23 |
| Other assets | 452,815 |  | 0.12 |
| Total assets |   389,690,105 |  | 	100.00 |

Movestic Avancera 85

Translation (ENDE, 2021-07-31):
# Anlagenverzeichnis zum 31. Juli 2021
|  |  | Beizulegender |  | % des |
| --- | --- | --- | --- | --- |
| Erfolgswirksam zum beizulegenden Zeitwert bewertete | Zeitwert |  | Nettover- |
| Anlagen | finanzielle Vermögenswerte | USD |  | mögens |
|  | Aktien: 93,39 % (2020: 87,55 %) |  |  |  |
|  | Argentinien: 2,89 % (2020: 0,00 %) |  |  |  |
|  | Kommunikation: 2,89 % (2020: 0,00 %) |  |  |  |
| 212 | MercadoLibre | 332.565 |  | 2,89 |
|  | Summe Argentinien | 	332.565 |  | 	2,89 |
|  | Brasilien: 2,81 % (2020: 0,00 %) |  |  |  |
|  | Grundstoffe: 2,81 % (2020: 0,00 %) |  |  |  |
| 7.000 | Wheaton Precious Metals | 323.050 |  | 2,81 |
|  | Brasilien gesamt | 	323.050 |  | 	2,81 |
|  | Kanada: 11,93 % (2020: 24,30 %) |  |  |  |
|  | Grundstoffe: 3,34 % (2020: 8,32 %) |  |  |  |
| 10 | Agnico Eagle Mines | 647 |  | 0,01 |
| 21.527 | Cameco | 383.180 |  | 3,33 |
|  | Kommunikation: 0,00 % (2020: 1,89 %) | – |  | – |
|  | Nicht-Basiskonsumgüter: 2,61 % (2020: 2,67 %) |  |  |  |
| 3.589 | Magna International | 300.866 |  | 2,61 |
|  | Basiskonsumgüter: 0,00 % (2020: 2,87 %) | – |  | – |
|  | Finanzen: 0,00 % (2020: 2,65 %) | – |  | – |
|  | Industrie: 3,37 % (2020: 5,90 %) |  |  |  |
| 12.688 | CAE | 387.365 |  | 3,37 |
|  | Technologie: 2,61 % (2020: 0,00 %) |  |  |  |
| 29.606 | BlackBerry | 300.797 |  | 2,61 |
|  | Kanada gesamt | 	1.372.855 |  | 	11,93 |
|  | Irland: 0,00 % (2020: 2,55 %) | – |  | – |
|  | Finanzen: 0,00 % (2020: 2,55 %) | – |  | – |
|  | Niederlande: 0,00 % (2020: 1,40 %) | – |  | – |
|  | Technologie: 0,00 % (2020: 1,40 %) | – |  | – |
|  | USA: 75,76 % (2020: 59,30 %) |  |  |  |
|  | Kommunikation: 15,67 % (2020: 7,37 %) |  |  |  |
| 148 | Alphabet | 398.790 |  | 3,46 |
| 60 | Amazon.com | 199.655 |  | 1,74 |
| 379 | Arista Networks | 144.168 |  | 1,25 |
| 43 | Booking | 93.665 |  | 0,81 |
| 868 | Facebook | 309.268 |  | 2,69 |
| 8.099 | Liberty Media | 380.086 |  | 3,30 |
| 1.155 | Wayfair | 278.771 |  | 2,42 |

MS Scientific Beta US Equity Factors UCITS ETF Anlagenverzeichnis zum 31. Juli 2021 (Fortsetzung)
|  |  | Beizulegender |  | % des |
| --- | --- | --- | --- | --- |
|  | Erfolgswirksam zum beizulegenden Zeitwert bewertete | Zeitwert |  | Nettover- |
| Positionen | finanzielle Vermögenswerte | USD |  | mögens |
|  | Aktien: 93,39 % (2020: 87,55 %) (Fortsetzung) |  |  |  |
|  | Vereinigte Staaten: 75,76 % (2020: 59,30 %) (Fortsetzung) |  |  |  |
|  | Nicht-Basiskonsumgüter: 6,27 % (2020: 6,14 %) |  |  |  |
| 59 | Chipotle Mexican Grill | 109.943 |  | 0,96 |
| 2.137 | Copart | 314.139 |  | 2,73 |
| 6.133 | DraftKings | 297.451 |  | 2,58 |
|  | Basiskonsumgüter: 20,49 % (2020: 6,83 %) |  |  |  |
| 11.484 | Bausch Health | 335.907 |  | 2,92 |
| 470 | Bio-Rad Laboratories | 347.570 |  | 3,02 |
| 1.373 | Danaher | 408.454 |  | 3,55 |
| 2.935 | Edwards Lifesciences | 329.513 |  | 2,86 |
| 1.622 | Eli Lilly and Company | 394.957 |  | 3,43 |
| 529 | IQVIA | 131.033 |  | 1,14 |
| 1.506 | Molina Healthcare | 411.153 |  | 3,57 |
|  | Finanzen: 5,99 % (2020: 19,74 %) |  |  |  |
| 16.011 | KeyCorp | 314.776 |  | 2,74 |
| 4 | Regions Financial | 77 |  | – |
| 5.882 | The Hartford Financial Services | 374.213 |  | 3,25 |
|  | Industrie: 0,62 % (2020: 11,95 %) |  |  |  |
| 306 | Honeywell Intl. | 71.540 |  | 0,62 |
|  | Technologie: 22,04 % (2020: 7,27 %) |  |  |  |
| 4.822 | Black Knight | 399.310 |  | 3,47 |
| 4.752 | Cerner | 382.013 |  | 3,32 |
| 1.194 | CrowdStrike | 302.810 |  | 2,63 |
| 2.504 | Fidelity National Information Services | 373.221 |  | 3,24 |
| 3.410 | Guidewire Software | 392.832 |  | 3,41 |
| 9.513 | HP | 274.640 |  | 2,39 |
| 1.549 | Snowflake | 411.600 |  | 3,58 |
|  | Versorger: 4,68 % (2020: 0,00 %) |  |  |  |
| 3.178 | Entergy | 327.080 |  | 2,84 |
| 11.083 | Vistra | 212.240 |  | 1,84 |
|  | USA gesamt | 	8.720.875 |  | 	75,76 |
|  | Summe Aktien | 	10.749.345 |  | 	93,39 |

MS Scientific Beta US Equity Factors UCITS ETF Anlagenverzeichnis zum 31. Juli 2021 (Fortsetzung)
Kontrahent
Erfolgswirksam zum beizulegenden Zeitwert bewertete
finanzielle Vermögenswerte
Derivative Finanzinstrumente: 3,41 % (2020: 10,16 %)
Total Return Swaps - nicht realisierte Gewinne: 3,41 % (2020: 10,16 %)
Morgan Stanley Swap
Nennwert
USD
Nicht realisierter Gewinn USD
% des Nettover- mögens
Morgan Stanley MS Scientific Beta US Equity Factors UCITS ETF Reference
Portfolio Leg	11.512.950	392.686	3,41     Summe Total Return Swaps - nicht realisierte Gewinne			392.686 3,41 Summe derivative Finanzinstrumente			392.686    3,41
Erfolgswirksam zum beizulegenden Zeitwert bewertete
finanzielle Vermögenswerte gesamt	   11.142.031   96,80
Erfolgswirksam zum beizulegenden Zeitwert bewertete
finanzielle Verbindlichkeiten
Derivative Finanzinstrumente: (1,08 %) (2020: (1,83 %))
Kontrahent
Total Return Swaps - nicht realisierte Verluste: (1,08 %) (2020: (1,83 %))
Morgan Stanley Swap
Nennwert
USD
Nicht realisierter Verlust USD
% des Nettover- mögens
Morgan Stanley MS Scientific Beta US Equity Factors UCITS ETF Financing Leg (10,749,344)	(124.093)	(1,08)
| Summe Total Return Swaps - nicht realisierte Verluste | 	(124.093) |  | 	(1,08) |
| --- | --- | --- | --- |
| Summe derivative Finanzinstrumente Erfolgswirksam zum beizulegenden Zeitwert bewertete finanzielle Verbindlichkeiten gesamt | 	(124.093) 	(124.093) |  | 	(1,08) 	(1,08) |
|  | Beizulegender |  | % des |
|  | Zeitwert |  | Nettover- |
|  | USD |  | mögens |
| Gesamtwert der Anlagen (Kosten: 10.625.252 USD) | 11.017.938 |  | 95,72 |
| Barmittel und Barmitteläquivalente | 23 |  | – |
| Forderungen an Broker | 488.875 |  | 4,25 |
| Sonstiges Nettovermögen | 4.113 |  | 0,03 |
| Den Inhabern rückzahlbarer, gewinnberechtigter Anteile |  |  |  |
| zuzurechnendes Nettovermögen | 	11.510.949 |  | 	100,00 |
|  | Beizulegender |  | % des |
| Zeitwert Gesamtver- |
| Portfolioanalyse | USD | mögens |
| Übertragbare Wertpapiere, die an einer Wertpapierbörse amtlich notiert |  |  |
| sind oder an einem anderen geregelten Markt gehandelt werden | 10.749.345 | 92,09 |
| Im Freiverkehr (OTC) gehandelte derivative Finanzinstrumente | 392.686 | 3,36 |
| Barmittel und Barmitteläquivalente | 23 | – |
| Forderungen an Broker | 488.875 | 4,19 |
| Sonstige Vermögenswerte | 	41.748 | 0,36 |
| Vermögenswerte gesamt | 	11.672.677 | 100,00 |