# DWS Invest Euro High Yield Corporates
DWS INVEST EURO HIGH YIELD CORPORATES

### Performance of share classes vs. benchmark (in EUR)
| Share class | ISIN | 6 months |
| --- | --- | --- |
| Class LC | LU0616839501 | -15.1% |
| Class FC | LU0616840772 | -14.9% |
| Class FD | LU0813334322 | -14.9% |
| Class IC | LU1054331407 | -14.8% |
| Class IC50 | LU1506496410 | -14.8% |
| Class ID | LU1054331589 | -14.8% |
| Class ID50 | LU1432415641 | -14.8% |
| Class LD | LU0616839766 | -15.1% |
| Class NC | LU0616840186 | -15.3% |
| Class ND | LU0616840426 | -15.3% |
| Class NDQ | LU1054332397 | -15.3% |
| Class PFC | LU1054332470 | -15.5% |
| Class PFD | LU2244927310 | -15.7% |
| Class PFDQ | LU1054332553 | -15.0% |
| Class RDQ | LU1808738642 | -14.7% |
| Class TFC | LU1663875406 | -14.9% |
| Class TFD | LU1663877287 | -14.9% |
| Class CHF FCH 1 | LU1426784200 | -15.0% |
| Class CHF ICH50 1 | LU2203794693 | -14.8% |
| Class CHF TFCH 1 | LU2366188972 | -15.0% |
| Class SEK LCH 2 | LU1322113298 | -15.1% |
| Class USD FCH 3 | LU0911036480 | -14.4% |
| Class USD LCH 3 | LU0911036308 | -14.6% |
| Class USD LDMH 3 | LU0616840939 | -14.6% |
| Class USD TFCH 3 | LU1663879069 | -14.4% |


##### ML Euro BB-B Non-Financial Fixed & FRN HY Constr. Index
1 
in CHF
2 
in SEK
3 
in USD
“BVI method” performance, i.e., excluding the initial sales charge.

##### -15.0%
Past performance is no guide to future results.	As of: June 30, 2022
The format used for complete dates
in security names in the investment
portfolio is “day/month/year”.
DWS Invest Euro High Yield Corporates
| Statement of net assets as of June 30, 2022 |  |
| --- | --- |
|  | Amount in EUR | % of net assets |
| I. Assets |  |  |
| 1. Bonds (issuers) Companies | 1 835 899 332.47 | 92.25 |
| Institutions | 3 421 302.40 | 0.17 |
| Total bonds | 1 839 320 634.87 | 92.42 |
| 2. Derivatives | 3 534 424.68 | 0.18 |
| 3. Cash at bank | 100 074 269.76 | 5.03 |
| 4. Other assets | 68 394 712.46 | 3.44 |
| 5. Receivables from share certificate transactions | 1 974 450.87 | 0.10 |
| II. Liabilities |  |  |
| 1. Other liabilities | -3 801 449.38 | -0.20 |
| 2. Liabilities from share certificate transactions | -19 384 496.34 | -0.97 |
| III. Net assets | 1 990 112 546.92 | 100.00 |
| Negligible rounding errors may have arisen due to the rounding of calculated percentages. |  |  |

| Investment portfolio – June 30, 2022 |  |
| --- | --- |
|  | Count/ | Quantity/ | Purchases/ | Sales/ | Currency | Market price | Total market | % of |
| Security name | units/ currency | principal amount | additions in the | disposals reporting period |  |  | value in EUR | net assets |
| Securities traded on an exchange |  |  |  |  |  |  | 1 827 573 988.52 | 91.83 |
| Interest-bearing securities |  |  |  |  |  |  |  |  |
| 3.625 | % Durfy One BV (MTN) 2021/2026 ...............  | CHF | 16 000 000 | 1 000 000 | 1 000 000 | % | 88.497 | 14 224 084.16 | 0.71 |
| 3.248 | % Abertis Infraestructuras Finance BV 2020/perpetual * | EUR | 4 300 000 |  |  | % | 80.254 | 3 450 922.00 | 0.17 |
| 2.625 | % Abertis Infraestructuras Finance BV 2021/perpetual * | EUR | 5 000 000 | 5 000 000 |  | % | 72.407 | 3 620 350.00 | 0.18 |
| 2.375 | % Accor SA (MTN) 2021/2028 ..................  | EUR | 8 000 000 |  |  | % | 79.677 | 6 374 160.00 | 0.32 |
| 2.625 | % Adevinta ASA -Reg- (MTN) 2020/2025 ..........  | EUR | 10 000 000 |  | 1 700 000 | % | 90.315 | 9 031 500.00 | 0.45 |
| 2.75 | % ADLER Group SA (MTN) 2020/2026 ............  | EUR | 2 500 000 |  | 2 100 000 | % | 51.415 | 1 285 375.00 | 0.06 |
| 1.875 | % ADLER Group SA (MTN) 2021/2026 ............  | EUR | 5 000 000 |  | 3 500 000 | % | 52.294 | 2 614 700.00 | 0.13 |
| 2.25 | % ADLER Group SA (MTN) 2021/2029 ............  | EUR | 11 200 000 |  | 2 800 000 | % | 47.86 | 5 360 320.00 | 0.27 |
| 2.25 | % ADLER Group SA (MTN) 2021/2027 ............  | EUR | 7 700 000 |  |  | % | 48.805 | 3 757 985.00 | 0.19 |
| 4.125 | % Adler Pelzer Holding GmbH -Reg- (MTN) 2017/2024 ** .............................  | EUR | 8 000 000 | 1 100 000 | 1 000 000 | % | 77.9 | 6 232 000.00 | 0.31 |
| 3.625 | % Ahlstrom-Munksjo Holding 3 Oy -Reg- (MTN) 2021/2028 ................................  | EUR | 3 500 000 |  | 2 500 000 | % | 81.574 | 2 855 090.00 | 0.14 |
| 2.875 | % Akropolis Group Uab (MTN) 2021/2026 .........  | EUR | 15 500 000 | 1 650 000 | 500 000 | % | 87.352 | 13 539 560.00 | 0.68 |
| 5.25 | % Albion Financing 1 SARL Via Aggreko Holdings, Inc. -Reg- (MTN) 2021/2026 ..................  | EUR | 6 320 000 |  |  | % | 83.703 | 5 290 029.60 | 0.27 |
| 3.625 | % Allied Universal Holdco LLC Via Allied Universal Finance Corp Via Atlas Luxco 4 Sarl -Reg- (MTN) 2021/2028 ................................  | EUR | 2 000 000 |  | 13 000 000 | % | 76.242 | 1 524 840.00 | 0.08 |
| 4.125 | % Allwyn International AS -Reg- (MTN) 2019/2024 ..  | EUR | 5 000 000 |  | 7 000 000 | % | 95.16 | 4 758 000.00 | 0.24 |
| 3.875 | % Allwyn International AS -Reg- (MTN) 2020/2027 ..  | EUR | 6 000 000 | 3 000 000 | 2 000 000 | % | 85.782 | 5 146 920.00 | 0.26 |
| 4.875 | % Almaviva-The Italian Innovation Co., SpA (MTN) 2021/2026 ................................  | EUR | 2 000 000 | 2 000 000 |  | % | 84.973 | 1 699 460.00 | 0.09 |
| 2.25 | % Altice Financing SA -Reg- (MTN) 2020/2025......  | EUR | 5 000 000 |  | 2 000 000 | % | 88.032 | 4 401 600.00 | 0.22 |
| 4.25 | % Altice Financing SA -Reg- (MTN) 2021/2029......  | EUR | 2 000 000 | 2 000 000 |  | % | 75.872 | 1 517 440.00 | 0.08 |
| 5.875 | % Altice France SA -Reg- (MTN) 2018/2027 ........  | EUR | 21 004 000 |  | 6 000 000 | % | 87.137 | 18 302 255.48 | 0.92 |
| 4.25 | % Altice France SA -Reg- (MTN) 2021/2029 ........  | EUR | 11 000 000 | 4 000 000 | 2 000 000 | % | 74.904 | 8 239 440.00 | 0.41 |
| 6.00 | % ams-OSRAM AG -Reg- (MTN) 2020/2025 ** ....  | EUR | 20 000 000 | 1 000 000 |  | % | 93.278 | 18 655 600.00 | 0.94 |
| 4.625 | % APCOA Parking Holdings GmbH -Reg- (MTN) 2021/2027 ** .............................  | EUR | 7 000 000 |  |  | % | 81.744 | 5 722 080.00 | 0.29 |
| 2.125 | % Ardagh Packaging Finance PLC Via Ardagh Holdings USA, Inc. -Reg- (MTN) 2020/2026 ......  | EUR | 4 000 000 |  | 3 000 000 | % | 81.443 | 3 257 720.00 | 0.16 |
| 1.875 | % Arena Luxembourg Finance Sarl -Reg- (MTN) 2020/2028 ................................  | EUR | 5 000 000 | 5 000 000 |  | % | 72.637 | 3 631 850.00 | 0.18 |
| 5.00 | % AT&S Austria Technologie & Systemtechnik AG 2022/perpetual * ...........................  | EUR | 11 000 000 | 11 000 000 |  | % | 85.925 | 9 451 750.00 | 0.47 |
| 3.875 | % Avantor Funding, Inc. -Reg- (MTN) 2020/2028 ....  | EUR | 2 000 000 | 2 000 000 |  | % | 86.969 | 1 739 380.00 | 0.09 |
| 2.625 | % Avantor Funding, Inc. -Reg- (MTN) 2020/2025 ....  | EUR | 6 000 000 | 2 000 000 |  | % | 93.087 | 5 585 220.00 | 0.28 |
| 3.75 | % Axalta Coating Systems Dutch Holding B BV -Reg- (MTN) 2016/2025 ** .......................  | EUR | 5 000 000 | 5 000 000 |  | % | 90.702 | 4 535 100.00 | 0.23 |
| 3.125 | % Bayer AG 2019/2079 * ......................  | EUR | 3 000 000 | 3 000 000 |  | % | 76.524 | 2 295 720.00 | 0.12 |
| 5.375 | % Bayer AG 2022/2082 * ......................  | EUR | 22 000 000 | 22 000 000 |  | % | 83.84 | 18 444 800.00 | 0.93 |
| 5.25 | % BK LC Lux Finco1 Sarl -Reg- (MTN) 2021/2029 ...  | EUR | 14 000 000 | 6 500 000 | 1 500 000 | % | 79.641 | 11 149 740.00 | 0.56 |
| 4.498 | % Casino Guichard Perrachon SA (MTN) 2014/2024 ** | EUR | 10 000 000 | 2 000 000 |  | % | 81.006 | 8 100 600.00 | 0.41 |
| 3.58 | % Casino Guichard Perrachon SA (MTN) 2014/2025 ..  | EUR | 3 000 000 |  | 2 000 000 | % | 74.271 | 2 228 130.00 | 0.11 |
| 6.00 | % Castor SpA -Reg- (MTN) 2022/2029 ............  | EUR | 11 000 000 | 11 000 000 |  | % | 90.152 | 9 916 720.00 | 0.50 |
| 2.375 | % Catalent Pharma Solutions, Inc. -Reg- (MTN) 2020/2028 ................................  | EUR | 5 070 000 | 5 070 000 |  | % | 81.893 | 4 151 975.10 | 0.21 |
| 1.75 | % Ceconomy AG (MTN) 2021/2026 ..............  | EUR | 6 500 000 |  | 1 500 000 | % | 72.11 | 4 687 150.00 | 0.24 |
| 1.25 | % Cellnex Finance Co. SA (MTN) 2021/2029 .......  | EUR | 2 000 000 | 2 000 000 |  | % | 74.657 | 1 493 140.00 | 0.07 |
| 2.00 | % Cellnex Finance Co. SA (MTN) 2021/2033 .......  | EUR | 10 000 000 |  |  | % | 66.596 | 6 659 600.00 | 0.33 |
| 1.50 | % Cellnex Finance Co. SA (MTN) 2021/2028 .......  | EUR | 6 000 000 | 5 000 000 | 3 000 000 | % | 78.354 | 4 701 240.00 | 0.24 |
| 1.875 | % Cellnex Telecom SA (MTN) 2020/2029 ..........  | EUR | 8 000 000 | 2 300 000 | 2 000 000 | % | 76.624 | 6 129 920.00 | 0.31 |
| 1.75 | % Cellnex Telecom SA (MTN) 2020/2030 ..........  | EUR | 11 000 000 | 2 000 000 |  | % | 71.435 | 7 857 850.00 | 0.39 |
| 0.75 | % Cellnex Telecom SA 2020/2031 ...............  | EUR | 5 000 000 |  |  | % | 68.426 | 3 421 300.00 | 0.17 |
| 5.875 | % Centurion Bidco SpA -Reg- (MTN) 2020/2026 ....  | EUR | 10 000 000 |  | 2 000 000 | % | 88.477 | 8 847 700.00 | 0.44 |
| 4.00 | % Chemours Co. (MTN) 2018/2026 ..............  | EUR | 32 000 000 | 3 000 000 | 4 000 000 | % | 89.044 | 28 494 080.00 | 1.43 |
| 3.625 | % Cirsa Finance International Sarl -Reg- (MTN) 2019/2025 * ..............................  | EUR | 2 000 000 | 2 000 000 |  | % | 90.351 | 1 807 020.00 | 0.09 |
| 4.375 | % Clarios Global LP Via Clarios US Finance Co. -Reg- (MTN) 2019/2026 ..........................  | EUR | 5 000 000 |  | 1 000 000 | % | 87.773 | 4 388 650.00 | 0.22 |
| 7.50 | % CMA CGM SA -Reg- (MTN) 2020/2026 ** ......  | EUR | 11 000 000 | 1 000 000 | 2 000 000 | % | 102.641 | 11 290 510.00 | 0.57 |
| 5.00 | % Consolidated Energy Finance SA -Reg- (MTN) 2021/2028 ................................  | EUR | 23 000 000 | 6 700 000 |  | % | 81.913 | 18 839 990.00 | 0.95 |
| 4.25 | % Constellium SE -Reg- (MTN) 2017/2026 .........  | EUR | 13 050 000 | 8 550 000 | 2 000 000 | % | 90.881 | 11 859 970.50 | 0.60 |
| 3.125 | % Constellium SE -Reg- (MTN) 2021/2029 .........  | EUR | 4 000 000 | 1 000 000 | 2 000 000 | % | 77.393 | 3 095 720.00 | 0.16 |
| 4.125 | % ContourGlobal Power Holdings SA -Reg- (MTN) 2018/2025 ................................  | EUR | 4 960 000 |  |  | % | 91.922 | 4 559 331.20 | 0.23 |
| 2.75 | % ContourGlobal Power Holdings SA -Reg- (MTN) 2020/2026 ** .............................  | EUR | 7 000 000 | 1 930 000 |  | % | 82.405 | 5 768 350.00 | 0.29 |
| 3.125 | % ContourGlobal Power Holdings SA -Reg- (MTN) 2020/2028 ................................  | EUR | 2 000 000 |  |  | % | 78.317 | 1 566 340.00 | 0.08 |
| 3.875 | % Coty, Inc. -Reg- (MTN) 2021/2026 ** ..........  | EUR | 4 000 000 |  | 2 010 000 | % | 88.744 | 3 549 760.00 | 0.18 |
| 3.375 | % Crown European Holdings SA -Reg- (MTN) 2015/2025 ................................  | EUR | 8 500 000 |  | 6 000 000 | % | 96.941 | 8 239 985.00 | 0.41 |
| 5.25 | % Ctec II GmbH -Reg- (MTN) 2022/2030 ** .......  | EUR | 2 000 000 | 4 000 000 | 2 000 000 | % | 72.717 | 1 454 340.00 | 0.07 |
| 4.625 | % Cullinan Holdco Scsp -Reg- (MTN) 2021/2026 ....  | EUR | 10 000 000 | 3 000 000 |  | % | 81.399 | 8 139 900.00 | 0.41 |

| Security name | Count/ units/ currency | Quantity/ principal amount | Purchases/ additions in the | Sales/ disposals reporting period | Currency | Market price | Total market value in EUR | % of net assets |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 4.75 | % Cullinan Holdco Scsp -Reg- (MTN) 2021/2026 * ** | EUR | 3 000 000 | 3 000 000 |  | % | 82.517 | 2 475 510.00 | 0.12 |
| 3.75 | % Deutsche Lufthansa AG (MTN) 2021/2028 .......  | EUR | 20 000 000 |  | 1 000 000 | % | 80.808 | 16 161 600.00 | 0.81 |
| 3.50 | % Deutsche Lufthansa AG (MTN) 2021/2029 .......  | EUR | 1 500 000 |  | 6 500 000 | % | 75.783 | 1 136 745.00 | 0.06 |
| 2.875 | % Deutsche Lufthansa AG (MTN) 2021/2027 .......  | EUR | 9 000 000 | 1 800 000 |  | % | 79.482 | 7 153 380.00 | 0.36 |
| 2.25 | % DIC Asset AG (MTN) 2021/2026 ...............  | EUR | 18 800 000 | 2 800 000 |  | % | 67.532 | 12 696 016.00 | 0.64 |
| 7.00 | % DKT Finance ApS -Reg- (MTN) 2018/2023 .......  | EUR | 2 000 000 |  | 8 000 000 | % | 95.337 | 1 906 740.00 | 0.10 |
| 3.00 | % Dometic Group AB (MTN) 2019/2026 **........  | EUR | 2 000 000 |  |  | % | 86.239 | 1 724 780.00 | 0.09 |
| 6.00 | % Douglas GmbH -Reg- (MTN) 2021/2026 ** ......  | EUR | 7 000 000 | 1 000 000 | 4 000 000 | % | 78.016 | 5 461 120.00 | 0.27 |
| 5.00 | % doValue SpA -Reg- (MTN) 2020/2025 ...........  | EUR | 11 500 000 | 3 000 000 | 3 500 000 | % | 95.444 | 10 976 060.00 | 0.55 |
| 2.625 | % Drax Finco PLC (MTN) 2020/2025 ** ..........  | EUR | 3 720 000 |  |  | % | 91.736 | 3 412 579.20 | 0.17 |
| 4.496 | % EDP - Energias de Portugal SA 2019/2079 * .....  | EUR | 10 000 000 | 5 300 000 |  | % | 97.119 | 9 711 900.00 | 0.49 |
| 1.875 | % EDP - Energias de Portugal SA 2021/2081 * .....  | EUR | 8 000 000 | 1 800 000 |  | % | 81.066 | 6 485 280.00 | 0.33 |
| 1.875 | % EDP - Energias de Portugal SA 2021/2082 * .....  | EUR | 14 000 000 |  |  | % | 69.753 | 9 765 420.00 | 0.49 |
| 5.50 | % eDreams ODIGEO SA -Reg- (MTN) 2022/2027 ** | EUR | 7 000 000 | 8 000 000 | 1 000 000 | % | 80.262 | 5 618 340.00 | 0.28 |
| 5.375 | % Electricite de France SA (MTN) 2013/perpetual *..  | EUR | 7 000 000 |  |  | % | 91.672 | 6 417 040.00 | 0.32 |
| 5.00 | % Electricite de France SA (MTN) 2014/perpetual *..  | EUR | 9 000 000 | 4 000 000 |  | % | 88.038 | 7 923 420.00 | 0.40 |
| 4.00 | % Electricite de France SA 2018/perpetual * .......  | EUR | 1 500 000 | 1 500 000 |  | % | 91.925 | 1 378 875.00 | 0.07 |
| 3.375 | % Electricite de France SA 2020/perpetual * **.....  | EUR | 29 000 000 | 5 000 000 |  | % | 65.569 | 19 015 010.00 | 0.96 |
| 2.625 | % Electricite de France SA 2021/perpetual * .......  | EUR | 3 000 000 |  |  | % | 70.789 | 2 123 670.00 | 0.11 |
| 3.75 | % Elior Group SA (MTN) 2021/2026 ** ...........  | EUR | 2 000 000 |  | 3 500 000 | % | 78.162 | 1 563 240.00 | 0.08 |
| 4.125 | % Elis SA (MTN) 2022/2027 ....................  | EUR | 1 500 000 | 1 900 000 | 400 000 | % | 95.223 | 1 428 345.00 | 0.07 |
| 6.375 | % Ellaktor Value Plc -Reg- (MTN) 2019/2024 ** ....  | EUR | 1 000 000 |  | 9 000 000 | % | 96.324 | 963 240.00 | 0.05 |
| 4.875 | % Encore Capital Group, Inc. -Reg- (MTN) 2020/2025 E | UR | 1 000 000 |  | 1 000 000 | % | 96.801 | 968 010.00 | 0.05 |
| 4.00 | % Energia Group NI FinanceCo PLC Via Energia Group |  |  |  |  |  |  |  |  |
|  | ROI Holdings DAC -Reg- (MTN) 2017/2025 ** ...  | EUR | 2 800 000 |  |  | % | 90.121 | 2 523 388.00 | 0.13 |
| 3.75 | % Faurecia SE (MTN) 2020/2028 ................  | EUR | 14 000 000 |  |  | % | 77.624 | 10 867 360.00 | 0.55 |
| 2.75 | % Faurecia SE (MTN) 2021/2027 ** .............  | EUR | 14 000 000 | 4 000 000 | 2 000 000 | % | 78.241 | 10 953 740.00 | 0.55 |
| 5.625 | % FIS Fabbrica Italiana Sintetici SpA -Reg- (MTN) |  |  |  |  |  |  |  |  |
|  | 2022/2027 ................................  | EUR | 13 000 000 | 13 000 000 |  | % | 85.111 | 11 064 430.00 | 0.56 |
| 5.00 | % Flamingo Lux II SCA -Reg- (MTN) 2021/2029 .....  | EUR | 8 000 000 |  |  | % | 74.25 | 5 940 000.00 | 0.30 |
| 3.375 | % Foncia Management SASU -Reg- (MTN) 2021/2028 | EUR | 2 500 000 |  | 2 000 000 | % | 81.569 | 2 039 225.00 | 0.10 |
| 6.875 | % Frigoglass Finance BV -Reg- (MTN) 2020/2025 ...  | EUR | 18 000 000 |  | 4 000 000 | % | 54.126 | 9 742 680.00 | 0.49 |
| 6.25 | % Gamma Bidco S.P.A. -Reg- (MTN) 2020/2025 ....  | EUR | 4 000 000 |  | 3 000 000 | % | 93.316 | 3 732 640.00 | 0.19 |
| 8.125 | % Gamma Bondco Sarl -Reg- (MTN) 2021/2026 **. . | EUR | 11 000 000 | 2 240 000 |  | % | 85.257 | 9 378 270.00 | 0.47 |
| 3.50 | % Getlink SE (MTN) 2020/2025. . . . . . . . . . . . . . . . . . | EUR | 10 000 000 |  | 1 730 000 | % | 95.868 | 9 586 800.00 | 0.48 |
| 5.375 | % Goldstory SASU -Reg- (MTN) 2021/2026 ** .....  | EUR | 4 000 000 |  | 1 000 000 | % | 84.81 | 3 392 400.00 | 0.17 |
| 2.75 | % Goodyear Europe BV -Reg- (MTN) 2021/2028 ....  | EUR | 2 000 000 | 2 000 000 |  | % | 75.476 | 1 509 520.00 | 0.08 |
| 2.625 | % Graphic Packaging International LLC -Reg- (MTN) |  |  |  |  |  |  |  |  |
|  | 2021/2029 ................................  | EUR | 7 000 000 | 3 220 000 | 1 000 000 | % | 81.733 | 5 721 310.00 | 0.29 |
| 3.20 | % Grifols SA -Reg- (MTN) 2017/2025 .............  | EUR | 5 500 000 | 6 000 000 | 3 500 000 | % | 91.153 | 5 013 415.00 | 0.25 |
| 1.625 | % Grifols SA -Reg- (MTN) 2019/2025 .............  | EUR | 2 692 000 | 2 000 000 | 808 000 | % | 92.042 | 2 477 770.64 | 0.12 |
| 4.125 | % Gruenenthal GmbH -Reg- (MTN) 2021/2028......  | EUR | 8 000 000 |  | 3 770 000 | % | 85.908 | 6 872 640.00 | 0.35 |
| 3.25 | % Guala Closures SpA -Reg- (MTN) 2021/2028 ** ..  | EUR | 2 000 000 |  | 7 500 000 | % | 80.927 | 1 618 540.00 | 0.08 |
| 3.248 | % Heimstaden Bostad AB 2019/perpetual *........  | EUR | 8 000 000 |  | 2 000 000 | % | 60.779 | 4 862 320.00 | 0.24 |
| 2.625 | % Heimstaden Bostad AB 2021/perpetual *........  | EUR | 8 000 000 |  | 1 050 000 | % | 51.913 | 4 153 040.00 | 0.21 |
| 7.50 | % House of HR -Reg- (MTN) 2020/2027 ...........  | EUR | 7 000 000 |  | 1 000 000 | % | 97.639 | 6 834 730.00 | 0.34 |
| 5.625 | % HSE Finance Sarl (MTN) 2021/2026 ** .........  | EUR | 3 500 000 |  | 5 500 000 | % | 68.969 | 2 413 915.00 | 0.12 |
| 9.25 | % HT Troplast GmbH -Reg- (MTN) 2020/2025 ......  | EUR | 12 000 000 | 1 000 000 |  | % | 89.22 | 10 706 400.00 | 0.54 |
| 4.25 | % Huhtamaki Oyj (MTN) 2022/2027 ..............  | EUR | 3 000 000 | 3 000 000 |  | % | 96.814 | 2 904 420.00 | 0.15 |
| 3.625 | % IHO Verwaltungs GmbH -Reg- (MTN) 2019/2025..  | EUR | 4 000 000 |  |  | % | 87.619 | 3 504 760.00 | 0.18 |
| 3.875 | % IHO Verwaltungs GmbH -Reg- (MTN) 2019/2027..  | EUR | 1 475 000 |  |  | % | 78.215 | 1 153 671.25 | 0.06 |
| 5.625 | % Iliad Holding SASU -Reg- (MTN) 2021/2028 ......  | EUR | 8 000 000 | 6 000 000 |  | % | 85.608 | 6 848 640.00 | 0.34 |
| 3.75 | % IMA Industria Macchine Automatiche SpA -Reg- |  |  |  |  |  |  |  |  |
|  | (MTN) 2020/2028 ..........................  | EUR | 3 000 000 |  | 7 500 000 | % | 80.68 | 2 420 400.00 | 0.12 |
| 2.875 | % INEOS Finance PLC -Reg- (MTN) 2019/2026 ** ..  | EUR | 4 000 000 | 4 000 000 | 2 000 000 | % | 87.552 | 3 502 080.00 | 0.18 |
| 2.50 | % INEOS Quattro Finance 2 Plc -Reg- (MTN) |  |  |  |  |  |  |  |  |
|  | 2021/2026 ................................  | EUR | 2 000 000 | 2 000 000 | 2 000 000 | % | 84.536 | 1 690 720.00 | 0.08 |
| 2.25 | % INEOS Styrolution Group GmbH -Reg- (MTN) |  |  |  |  |  |  |  |  |
|  | 2020/2027 ** .............................  | EUR | 6 000 000 |  | 1 500 000 | % | 77.781 | 4 666 860.00 | 0.23 |
| 4.875 | % Inter Media and Communication SpA -Reg- (MTN) |  |  |  |  |  |  |  |  |
|  | 2017/2022 ................................  | EUR | 88 750 |  | 7 002 840 | % | 100 | 88 749.98 | 0.00 |
| 3.75 | % International Consolidated Airlines Group SA (MTN) |  |  |  |  |  |  |  |  |
|  | 2021/2029 ................................  | EUR | 12 500 000 |  | 2 500 000 | % | 71.264 | 8 908 000.00 | 0.45 |
| 6.50 | % International Design Group SPA -Reg- (MTN) |  |  |  |  |  |  |  |  |
|  | 2018/2025 ** .............................  | EUR | 19 000 000 | 1 000 000 |  | % | 90.025 | 17 104 750.00 | 0.86 |
| 3.50 | % International Game Technology PLC -Reg- (MTN) |  |  |  |  |  |  |  |  |
|  | 2019/2026 ................................  | EUR | 15 000 000 | 9 500 000 |  | % | 91.3 | 13 695 000.00 | 0.69 |
| 3.375 | % Intertrust Group BV -Reg- (MTN) 2018/2025 .....  | EUR | 9 000 000 |  | 7 000 000 | % | 95.261 | 8 573 490.00 | 0.43 |
| 5.25 | % Intralot Capital Luxembourg SA -Reg- (MTN) |  |  |  |  |  |  |  |  |
|  | 2017/2024 ................................  | EUR | 6 000 000 |  |  | % | 89.644 | 5 378 640.00 | 0.27 |
| 4.875 | % Intrum AB -Reg- (MTN) 2020/2025 .............  | EUR | 5 000 000 |  | 1 000 000 | % | 91.027 | 4 551 350.00 | 0.23 |
| 4.25 | % Iqera Group SAS -Reg- (MTN) 2017/2024 ........  | EUR | 3 000 000 |  | 3 617 000 | % | 93.116 | 2 793 480.00 | 0.14 |
| 6.50 | % Iqera Group SAS -Reg- 2020/2024 .............  | EUR | 5 000 000 |  |  | % | 95.917 | 4 795 850.00 | 0.24 |
| 2.875 | % IQVIA, Inc. -Reg- (MTN) 2020/2028 ............  | EUR | 5 500 000 |  | 1 500 000 | % | 85.446 | 4 699 530.00 | 0.24 |
| 1.75 | % IQVIA, Inc. -Reg- (MTN) 2021/2026 ** .........  | EUR | 2 000 000 |  | 3 000 000 | % | 88.246 | 1 764 920.00 | 0.09 |
| 2.25 | % IQVIA, Inc. -Reg- (MTN) 2021/2029 ............  | EUR | 8 000 000 | 3 500 000 |  | % | 79.477 | 6 358 160.00 | 0.32 |
| 4.75 | % Italmatch Chemicals SpA -Reg- (MTN) |  |  |  |  |  |  |  |  |
|  | 2018/2024 * ** ............................  | EUR | 8 000 000 |  | 7 000 000 | % | 90.96 | 7 276 800.00 | 0.37 |
| 5.875 | % Jaguar Land Rover Automotive PLC -Reg- (MTN) |  |  |  |  |  |  |  |  |
|  | 2019/2024 ................................  | EUR | 2 500 000 | 2 500 000 |  | % | 92.334 | 2 308 350.00 | 0.12 |
| 3.625 | % James Hardie International Finance DAC -Reg- |  |  |  |  |  |  |  |  |
|  | (MTN) 2018/2026 ..........................  | EUR | 14 000 000 | 2 000 000 |  | % | 92.93 | 13 010 200.00 | 0.65 |
| 5.50 | % Kaefer SE & Co., KG -Reg- (MTN) 2018/2024.....  | EUR | 17 680 000 |  |  | % | 98.221 | 17 365 472.80 | 0.87 |

| 5.125 | % Kaixo Bondco Telecom SA (MTN) 2021/2029.....  | EUR | 5 000 000 | 5 000 000 |  | % | 76.245 | 3 812 250.00 | 0.19 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 4.25 | % Kleopatra Finco Sarl -Reg- (MTN) 2021/2026 .....  | EUR | 6 000 000 | 2 000 000 | 2 610 000 | % | 82.372 | 4 942 320.00 | 0.25 |
| 6.50 | % Kleopatra Holdings 2 SCA -Reg- (MTN) |  |  |  |  |  |  |  |  |
|  | 2021/2026 ** .............................  | EUR | 10 500 000 | 1 000 000 | 5 500 000 | % | 65.535 | 6 881 175.00 | 0.35 |
| 6.75 | % KME SE -Reg- (MTN) 2018/2023 ** ...........  | EUR | 7 329 395 |  | 12 670 605 | % | 97.937 | 7 178 189.39 | 0.36 |
| 5.00 | % Kongsberg Actuation Systems BV -Reg- (MTN) |  |  |  |  |  |  |  |  |
|  | 2018/2025 ** .............................  | EUR | 7 159 909 | 727 272 | 2 567 363 | % | 82.729 | 5 923 321.18 | 0.30 |
| 2.85 | % Koninklijke FrieslandCampina NV 2020/perpetual * | EUR | 1 000 000 |  | 2 000 000 | % | 88.087 | 880 870.00 | 0.04 |
| 2.00 | % Koninklijke KPN NV 2019/perpetual * ...........  | EUR | 8 000 000 |  |  | % | 92.171 | 7 373 680.00 | 0.37 |
| 3.75 | % Kronos International, Inc. -Reg- (MTN) 2017/2025 . | EUR | 20 000 000 | 2 000 000 | 6 000 000 | % | 89.45 | 17 890 000.00 | 0.90 |
| 5.125 | % La Financiere Atalian SASU -Reg- (MTN) |  |  |  |  |  |  |  |  |
|  | 2018/2025 ** .............................  | EUR | 13 000 000 | 1 000 000 |  | % | 77.03 | 10 013 900.00 | 0.50 |
| 3.125 | % La Poste SA 2018/perpetual * ................  | EUR | 7 000 000 | 2 000 000 |  | % | 89.903 | 6 293 210.00 | 0.32 |
| 4.50 | % Leather 2 SpA -Reg- (MTN) 2021/2028 * ........  | EUR | 1 000 000 | 1 000 000 | 4 160 000 | % | 81.194 | 811 940.00 | 0.04 |
| 5.75 | % Lenzing AG 2020/perpetual * .................  | EUR | 19 000 000 | 2 000 000 |  | % | 95.624 | 18 168 560.00 | 0.91 |
| 7.25 | % LHMC Finco 2 Sarl -Reg- (MTN) 2019/2025 ......  | EUR | 2 500 000 | 2 500 000 |  | % | 87.447 | 2 186 175.00 | 0.11 |
| 6.50 | % Loarre Investments Sarl -Reg- (MTN) 2022/2029 ..  | EUR | 5 140 000 | 5 140 000 |  | % | 93.627 | 4 812 427.80 | 0.24 |
| 4.00 | % Lorca Telecom Bondco SA -Reg- (MTN) 2020/2027 | EUR | 3 000 000 | 5 000 000 | 2 000 000 | % | 83.854 | 2 515 620.00 | 0.13 |
| 4.50 | % LOXAM SAS (MTN) 2022/2027 ** ............  | EUR | 5 580 000 | 6 580 000 | 1 000 000 | % | 86.23 | 4 811 634.00 | 0.24 |
| 7.25 | % LSF XI Magpie Bidco Sarl -Reg- (MTN) 2022/2027 . | EUR | 9 830 000 | 9 830 000 |  | % | 85.285 | 8 383 515.50 | 0.42 |
| 5.625 | % Lune Holdings Sarl -Reg- (MTN) 2021/2028 ** ...  | EUR | 15 500 000 | 3 500 000 |  | % | 81.082 | 12 567 710.00 | 0.63 |
| 6.125 | % Marcolin SpA -Reg- (MTN) 2021/2026 ** .......  | EUR | 9 500 000 |  | 3 000 000 | % | 86.988 | 8 263 860.00 | 0.42 |
| 4.00 | % Matterhorn Telecom SA -Reg- (MTN) |  |  |  |  |  |  |  |  |
|  | 2017/2027 ** .............................  | EUR | 3 000 000 |  | 2 000 000 | % | 85.64 | 2 569 200.00 | 0.13 |
| 4.75 | % Mauser Packaging Solutions Holding Co. -Reg- |  |  |  |  |  |  |  |  |
|  | (MTN) 2018/2024 ..........................  | EUR | 7 500 000 | 1 500 000 |  | % | 93.552 | 7 016 400.00 | 0.35 |
| 5.875 | % Maxeda DIY Holding BV -Reg- (MTN) |  |  |  |  |  |  |  |  |
|  | 2020/2026 ** .............................  | EUR | 2 500 000 |  |  | % | 71.084 | 1 777 100.00 | 0.09 |
| 4.25 | % Mobilux Finance SAS -Reg- (MTN) 2021/2028 ....  | EUR | 5 500 000 |  |  | % | 73.824 | 4 060 320.00 | 0.20 |
| 9.50 | % Monitchem HoldCo 2 SA -Reg- (MTN) 2019/2026 . | EUR | 7 000 000 |  | 2 000 000 | % | 95.051 | 6 653 570.00 | 0.33 |
| 5.25 | % Monitchem HoldCo 3 SA -Reg- (MTN) 2019/2025 . | EUR | 1 000 000 | 1 000 000 | 5 000 000 | % | 92.088 | 920 880.00 | 0.05 |
| 2.50 | % Mytilineos Financial Partners SA (MTN) |  |  |  |  |  |  |  |  |
|  | 2019/2024 ................................  | EUR | 4 000 000 |  | 1 000 000 | % | 93.813 | 3 752 520.00 | 0.19 |
| 3.375 | % Naturgy Finance BV 2015/perpetual * ..........  | EUR | 5 800 000 |  |  | % | 93.176 | 5 404 208.00 | 0.27 |
| 2.374 | % Naturgy Finance BV 2021/perpetual * ..........  | EUR | 5 000 000 | 2 000 000 |  | % | 77.725 | 3 886 250.00 | 0.20 |
| 4.50 | % Neinor Homes SA -Reg- (MTN) 2021/2026.......  | EUR | 2 000 000 |  | 4 500 000 | % | 81.775 | 1 635 500.00 | 0.08 |
| 2.25 | % Nemak SAB de CV -Reg- (MTN) 2021/2028 ......  | EUR | 10 000 000 |  |  | % | 72.042 | 7 204 200.00 | 0.36 |
| 1.625 | % Nexi SpA (MTN) 2021/2026 ** ...............  | EUR | 8 000 000 | 6 000 000 | 4 000 000 | % | 81.697 | 6 535 760.00 | 0.33 |
| 2.125 | % Nexi SpA (MTN) 2021/2029 ** ...............  | EUR | 7 000 000 | 2 040 000 | 1 000 000 | % | 70.046 | 4 903 220.00 | 0.25 |
| 3.50 | % Nidda Healthcare Holding GmbH -Reg- (MTN) |  |  |  |  |  |  |  |  |
|  | 2017/2024 ................................  | EUR | 4 000 000 | 4 000 000 | 1 000 000 | % | 88.826 | 3 553 040.00 | 0.18 |
| 7.00 | % Nitrogenmuvek Vegyipari Zrt -Reg- (MTN) |  |  |  |  |  |  |  |  |
|  | 2018/2025 ** .............................  | EUR | 19 000 000 |  | 1 000 000 | % | 87.086 | 16 546 340.00 | 0.83 |
| 3.625 | % Nobian Finance BV -Reg- (MTN) 2021/2026 ** ...  | EUR | 6 000 000 | 2 000 000 | 2 000 000 | % | 77.754 | 4 665 240.00 | 0.23 |
| 2.50 | % Nomad Foods Bondco Plc -Reg- (MTN) 2021/2028 | EUR | 9 000 000 | 1 000 000 |  | % | 79.009 | 7 110 810.00 | 0.36 |
| 4.50 | % Norican A/S (MTN) 2017/2023 ** .............  | EUR | 13 000 000 | 8 000 000 |  | % | 88.184 | 11 463 920.00 | 0.58 |
| 5.00 | % Novafives SAS -Reg- (MTN) 2018/2025 ** ......  | EUR | 3 945 000 |  | 2 055 000 | % | 65.733 | 2 593 166.85 | 0.13 |
| 3.375 | % Novelis Sheet Ingot GmbH (MTN) 2021/2029 ** . | EUR | 5 500 000 |  |  | % | 79.386 | 4 366 230.00 | 0.22 |
| 3.875 | % Olympus Water US Holding Corp. -Reg- (MTN) |  |  |  |  |  |  |  |  |
|  | 2021/2028 ** .............................  | EUR | 4 500 000 |  | 5 000 000 | % | 81.446 | 3 665 070.00 | 0.18 |
| 3.50 | % Ontex Group NV (MTN) 2021/2026.............  | EUR | 3 000 000 | 1 000 000 | 2 000 000 | % | 80.224 | 2 406 720.00 | 0.12 |
| 2.75 | % Orano SA (MTN) 2020/2028 ..................  | EUR | 3 000 000 |  |  | % | 84.86 | 2 545 800.00 | 0.13 |
| 2.875 | % Organon & Co. Via Organon Foreign Debt |  |  |  |  |  |  |  |  |
|  | Co-Issuer BV -Reg- (MTN) 2021/2028 ...........  | EUR | 10 000 000 | 1 610 000 |  | % | 84.06 | 8 406 000.00 | 0.42 |
| 3.50 | % Peach Property Finance GmbH -Reg- 2019/2023 ..  | EUR | 13 018 000 | 2 000 000 | 7 282 000 | % | 85.897 | 11 182 071.46 | 0.56 |
| 4.375 | % Peach Property Finance GmbH -Reg- (MTN) |  |  |  |  |  |  |  |  |
|  | 2020/2025 ................................  | EUR | 11 000 000 |  |  | % | 79.107 | 8 701 770.00 | 0.44 |
| 4.75 | % PHM Group Holding Oy -144A- (MTN) 2021/2026 . | EUR | 5 000 000 |  | 1 000 000 | % | 90.704 | 4 535 200.00 | 0.23 |
| 3.625 | % Piaggio & C SpA -Reg- (MTN) 2018/2025 ** .....  | EUR | 3 000 000 |  |  | % | 95.515 | 2 865 450.00 | 0.14 |
| 3.75 | % Playtech Plc (MTN) 2018/2023 ** .............  | EUR | 12 000 000 |  | 2 000 000 | % | 98.362 | 11 803 440.00 | 0.59 |
| 4.625 | % PLT VII Finance Sarl -Reg- (MTN) 2020/2026 ** ..  | EUR | 4 000 000 |  | 1 000 000 | % | 87.956 | 3 518 240.00 | 0.18 |
| 4.625 | % PLT VII Finance Sarl -Reg- (MTN) 2020/2026 *. . . . | EUR | 1 000 000 |  | 6 000 000 | % | 95.052 | 950 520.00 | 0.05 |
| 3.50 | % PPF Telecom Group BV (MTN) 2020/2024 .......  | EUR | 1 500 000 |  | 7 500 000 | % | 98.513 | 1 477 695.00 | 0.07 |
| 6.25 | % PrestigeBidCo GmbH -Reg- (MTN) 2016/2023 ....  | EUR | 2 000 000 | 2 000 000 |  | % | 97.535 | 1 950 700.00 | 0.10 |
| 3.25 | % Pro-Gest SpA -Reg- (MTN) 2017/2024 ..........  | EUR | 19 820 000 | 8 820 000 |  | % | 76.55 | 15 172 210.00 | 0.76 |
| 3.00 | % ProGroup AG -Reg- (MTN) 2018/2026 ** .......  | EUR | 3 000 000 | 3 000 000 |  | % | 88.489 | 2 654 670.00 | 0.13 |
| 3.50 | % Prokon Regenerative Energien eG 2016/2030 ....  | EUR | 10 044 022 |  | 1 431 969 | % | 98.715 | 9 914 956.61 | 0.50 |
| 5.875 | % Quatrim SASU -Reg- (MTN) 2019/2024 ** ......  | EUR | 6 000 000 | 6 000 000 | 6 000 000 | % | 95.501 | 5 730 060.00 | 0.29 |
| 6.375 | % Raffinerie Heide GmbH -Reg- (MTN) 2017/2022 ** | EUR | 9 034 000 | 2 134 000 | 5 100 000 | % | 93.908 | 8 483 648.72 | 0.43 |
| 4.25 | % Rakuten Group, Inc. -Reg- 2021/perpetual *......  | EUR | 5 000 000 |  |  | % | 69.897 | 3 494 850.00 | 0.18 |
| 3.25 | % RCS & RDS SA -Reg- (MTN) 2020/2028 .........  | EUR | 4 000 000 |  | 2 000 000 | % | 78.562 | 3 142 480.00 | 0.16 |
| 7.25 | % Rekeep SpA -Reg- (MTN) 2021/2026 ...........  | EUR | 5 000 000 | 1 000 000 | 4 000 000 | % | 86.968 | 4 348 400.00 | 0.22 |
| 2.00 | % Renault SA (MTN) 2018/2026 .................  | EUR | 8 000 000 | 3 000 000 |  | % | 81.017 | 6 481 360.00 | 0.33 |
| 2.50 | % Renault SA (MTN) 2021/2028 ** ..............  | EUR | 4 000 000 |  |  | % | 76.757 | 3 070 280.00 | 0.15 |
| 4.50 | % Repsol International Finance BV 2015/2075 * ....  | EUR | 2 000 000 | 2 000 000 |  | % | 95.934 | 1 918 680.00 | 0.10 |
| 4.247 | % Repsol International Finance BV |  |  |  |  |  |  |  |  |
|  | 2020/perpetual * ** ........................  | EUR | 11 500 000 | 11 500 000 |  | % | 86.04 | 9 894 600.00 | 0.50 |
| 2.125 | % Rexel SA (MTN) 2021/2028 ** ...............  | EUR | 4 500 000 |  | 3 190 000 | % | 77.768 | 3 499 560.00 | 0.18 |
| 5.25 | % Rimini Bidco SpA -Reg- (MTN) 2021/2026 * ** ...  | EUR | 17 922 000 | 2 922 000 |  | % | 85.544 | 15 331 195.68 | 0.77 |
| 6.75 | % Rossini Sarl -Reg- (MTN) 2018/2025 ............  | EUR | 17 000 000 |  | 3 000 000 | % | 96.484 | 16 402 280.00 | 0.82 |
| 5.625 | % Rubis Terminal Infra SAS -Reg- (MTN) 2020/2025 . | EUR | 14 000 000 | 4 000 000 |  | % | 97.084 | 13 591 760.00 | 0.68 |
| 3.375 | % Saipem Finance International BV (MTN) |  |  |  |  |  |  |  |  |
|  | 2020/2026 ** .............................  | EUR | 4 000 000 | 2 500 000 | 3 000 000 | % | 79.387 | 3 175 480.00 | 0.16 |

| Security | name | Count/ units/ currency | Quantity/ principal amount | Purchases/ additions in the | Sales/ disposals reporting period | Currency | Market price | Total market value in EUR | % of net assets |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 2.624 | % Samhallsbyggnadsbolaget i Norden AB |  |  |  |  |  |  |  |  |
|  | 2020/perpetual * ...........................  | EUR | 1 000 000 |  |  | % | 33.807 | 338 070.00 | 0.02 |
| 2.875 | % Samhallsbyggnadsbolaget i Norden AB |  |  |  |  |  |  |  |  |
|  | 2021/perpetual * ** ........................  | EUR | 7 500 000 |  |  | % | 33.117 | 2 483 775.00 | 0.12 |
| 3.50 | % Samsonite Finco Sarl -Reg- (MTN) 2018/2026 ** . | EUR | 3 400 000 |  | 2 600 000 | % | 84.771 | 2 882 214.00 | 0.14 |
| 5.625 | % Sani/Ikos Financial Holdings 1 Sarl -Reg- (MTN) |  |  |  |  |  |  |  |  |
|  | 2021/2026 ................................  | EUR | 2 000 000 | 2 000 000 | 4 000 000 | % | 86.91 | 1 738 200.00 | 0.09 |
| 5.75 | % Sarens Finance Co. NV (MTN) 2020/2027 .......  | EUR | 4 800 000 | 1 800 000 |  | % | 67.457 | 3 237 936.00 | 0.16 |
| 3.375 | % Schaeffler AG (MTN) 2020/2028 **............  | EUR | 3 000 000 |  | 4 000 000 | % | 81.313 | 2 439 390.00 | 0.12 |
| 5.375 | % Schenck Process Holding GmbH/Darmstadt -Reg- |  |  |  |  |  |  |  |  |
|  | (MTN) 2017/2023 ..........................  | EUR | 3 000 000 |  | 4 196 000 | % | 96.523 | 2 895 690.00 | 0.15 |
| 6.875 | % Schenck Process Holding GmbH/Darmstadt -Reg- |  |  |  |  |  |  |  |  |
|  | (MTN) 2018/2023 ..........................  | EUR | 16 000 000 |  | 4 000 000 | % | 98.079 | 15 692 640.00 | 0.79 |
| 6.375 | % Schoeller Packaging BV -Reg- (MTN) |  |  |  |  |  |  |  |  |
|  | 2019/2024 ** .............................  | EUR | 25 000 000 | 4 300 000 | 1 000 000 | % | 84.508 | 21 127 000.00 | 1.06 |
| 4.375 | % SCIL IV LLC Via SCIL USA Holdings LLC -Reg- |  |  |  |  |  |  |  |  |
|  | (MTN) 2021/2026 ** .......................  | EUR | 7 000 000 |  |  | % | 81.614 | 5 712 980.00 | 0.29 |
| 2.25 | % Seche Environnement SA (MTN) 2021/2028 .....  | EUR | 4 000 000 | 1 000 000 | 2 000 000 | % | 79.55 | 3 182 000.00 | 0.16 |
| 5.625 | % SES SA 2016/perpetual * ....................  | EUR | 8 000 000 | 2 000 000 |  | % | 97.044 | 7 763 520.00 | 0.39 |
| 4.625 | % SGL Carbon SE (MTN) 2019/2024 .............  | EUR | 7 000 000 | 7 000 000 |  | % | 95.649 | 6 695 430.00 | 0.34 |
| 4.50 | % Shiba Bidco SpA -Reg- (MTN) 2021/2028 ** .....  | EUR | 12 650 000 |  | 1 000 000 | % | 82.893 | 10 485 964.50 | 0.53 |
| 5.50 | % Signa Development Finance SCS -Reg- (MTN) |  |  |  |  |  |  |  |  |
|  | 2021/2026 ................................  | EUR | 5 000 000 |  | 3 400 000 | % | 73.747 | 3 687 350.00 | 0.19 |
| 2.25 | % Silgan Holdings, Inc. (MTN) 2020/2028..........  | EUR | 1 250 000 |  |  | % | 78.706 | 983 825.00 | 0.05 |
| 2.125 | % SoftBank Group Corp. 2021/2024 ..............  | EUR | 6 000 000 | 5 000 000 | 4 000 000 | % | 90.12 | 5 407 200.00 | 0.27 |
| 2.875 | % SoftBank Group Corp. (MTN) 2021/2027 ........  | EUR | 9 000 000 | 1 500 000 |  | % | 77.855 | 7 006 950.00 | 0.35 |
| 5.869 | % Solvay Finance SACA 2015/perpetual * .........  | EUR | 8 500 000 | 2 000 000 | 500 000 | % | 98.564 | 8 377 940.00 | 0.42 |
| 2.625 | % SPCM SA -Reg- (MTN) 2020/2029 .............  | EUR | 6 000 000 |  |  | % | 81.745 | 4 904 700.00 | 0.25 |
| 4.00 | % SSE PLC 2022/perpetual * ...................  | EUR | 6 530 000 | 6 530 000 |  | % | 86.594 | 5 654 588.20 | 0.28 |
| 6.25 | % Standard Profil Automotive GmbH -Reg- (MTN) |  |  |  |  |  |  |  |  |
|  | 2021/2026 ** .............................  | EUR | 4 800 000 |  | 13 200 000 | % | 62.035 | 2 977 680.00 | 0.15 |
| 5.75 | % Summer BC Holdco B SARL -Reg- (MTN) |  |  |  |  |  |  |  |  |
|  | 2019/2026 ................................  | EUR | 8 000 000 | 1 000 000 | 5 000 000 | % | 87.503 | 7 000 240.00 | 0.35 |
| 9.00 | % Summer BidCo BV -Reg- (MTN) 2019/2025 ......  | EUR | 3 298 778 | 152 527 |  | % | 81.679 | 2 694 408.54 | 0.14 |
| 9.00 | % Summer BidCo BV -Reg- (MTN) 2020/2025 ......  | EUR | 7 105 504 | 328 544 |  | % | 81.785 | 5 811 236.44 | 0.29 |
| 6.00 | % Superior Industries International, Inc. -Reg- (MTN) |  |  |  |  |  |  |  |  |
|  | 2017/2025 ** .............................  | EUR | 5 000 000 |  | 1 000 000 | % | 81.106 | 4 055 300.00 | 0.20 |
| 3.875 | % Synthomer PLC -Reg- (MTN) 2020/2025 ........  | EUR | 11 000 000 | 5 000 000 |  | % | 91.076 | 10 018 360.00 | 0.50 |
| 2.50 | % Synthos SA -Reg- (MTN) 2021/2028 ............  | EUR | 5 100 000 | 2 100 000 |  | % | 81.799 | 4 171 749.00 | 0.21 |
| 2.00 | % Techem Verwaltungsgesellschaft 675 mbH -Reg- |  |  |  |  |  |  |  |  |
|  | (MTN) 2020/2025 ** .......................  | EUR | 12 000 000 | 4 000 000 | 3 000 000 | % | 87.939 | 10 552 680.00 | 0.53 |
| 3.875 | % Tele Columbus AG -Reg- (MTN) 2018/2025 ......  | EUR | 2 000 000 |  | 13 500 000 | % | 84.194 | 1 683 880.00 | 0.08 |
| 7.75 | % Telecom Italia Finance SA (MTN) 2003/2033 ** ..  | EUR | 19 000 000 | 1 000 000 |  | % | 103.995 | 19 759 050.00 | 0.99 |
| 4.00 | % Telecom Italia SpA (MTN) 2019/2024 ...........  | EUR | 8 410 000 |  |  | % | 98.71 | 8 301 511.00 | 0.42 |
| 5.875 | % Telefonica Europe BV 2014/perpetual * .........  | EUR | 25 000 000 |  | 11 000 000 | % | 99.137 | 24 784 250.00 | 1.25 |
| 4.375 | % Telefonica Europe BV 2019/perpetual * .........  | EUR | 19 000 000 | 6 000 000 |  | % | 95.559 | 18 156 210.00 | 0.91 |
| 2.88 | % Telefonica Europe BV 2021/perpetual * .........  | EUR | 6 000 000 |  | 1 800 000 | % | 77.133 | 4 627 980.00 | 0.23 |
| 3.50 | % Telenet Finance Luxembourg Notes Sarl -Reg- |  |  |  |  |  |  |  |  |
|  | 2017/2028 ** .............................  | EUR | 5 000 000 | 1 000 000 | 6 500 000 | % | 85.562 | 4 278 100.00 | 0.21 |
| 2.374 | % TenneT Holding BV 2020/perpetual * ...........  | EUR | 7 500 000 |  |  | % | 92.626 | 6 946 950.00 | 0.35 |
| 1.375 | % Teollisuuden Voima Oyj (MTN) 2021/2028 .......  | EUR | 8 380 000 |  | 1 000 000 | % | 83.695 | 7 013 641.00 | 0.35 |
| 4.50 | % Teva Pharmaceutical Finance Netherlands II BV |  |  |  |  |  |  |  |  |
|  | (MTN) 2018/2025 ..........................  | EUR | 2 500 000 |  |  | % | 93.753 | 2 343 825.00 | 0.12 |
| 3.75 | % Teva Pharmaceutical Finance Netherlands II BV |  |  |  |  |  |  |  |  |
|  | (MTN) 2021/2027 ..........................  | EUR | 15 000 000 | 6 550 000 |  | % | 84.916 | 12 737 400.00 | 0.64 |
| 4.375 | % Teva Pharmaceutical Finance Netherlands II BV |  |  |  |  |  |  |  |  |
|  | (MTN) 2021/2030 ** .......................  | EUR | 15 000 000 | 8 000 000 |  | % | 79.923 | 11 988 450.00 | 0.60 |
| 1.875 | % thyssenkrupp AG (MTN) 2019/2023 ............  | EUR | 3 000 000 | 6 000 000 | 21 000 000 | % | 97.703 | 2 931 090.00 | 0.15 |
| 3.75 | % TI Automotive Finance PLC -Reg- (MTN) |  |  |  |  |  |  |  |  |
|  | 2021/2029 ................................  | EUR | 1 000 000 | 1 000 000 |  | % | 70.11 | 701 100.00 | 0.03 |
| 3.875 | % Trafigura Funding SA (MTN) 2021/2026 ** ......  | EUR | 6 000 000 |  | 1 000 000 | % | 86.342 | 5 180 520.00 | 0.26 |
| 7.50 | % Trafigura Group Pte Ltd 2019/perpetual *. . . . . . . . | EUR | 2 500 000 |  |  | % | 95.666 | 2 391 650.00 | 0.12 |
| 6.50 | % TUI Cruises GmbH (MTN) 2021/2026 ...........  | EUR | 9 000 000 | 1 000 000 | 2 870 000 | % | 71.106 | 6 399 540.00 | 0.32 |
| 2.50 | % UGI International LLC -Reg- (MTN) 2021/2029 ....  | EUR | 16 421 000 | 7 421 000 |  | % | 74.816 | 12 285 535.36 | 0.62 |
| 4.00 | % United Group BV -Reg- (MTN) 2020/2027. . . . . . . . | EUR | 11 000 000 |  |  | % | 76.276 | 8 390 360.00 | 0.42 |
| 4.625 | % United Group BV -Reg- (MTN) 2021/2028. . . . . . . . | EUR | 5 000 000 |  |  | % | 76.947 | 3 847 350.00 | 0.19 |
| 5.25 | % United Group BV -Reg- (MTN) 2022/2030 ** ....  | EUR | 6 000 000 | 6 000 000 |  | % | 74.285 | 4 457 100.00 | 0.22 |
| 3.625 | % UPCB Finance VII Ltd -Reg- 2017/2029 ** ......  | EUR | 5 000 000 | 2 000 000 | 6 000 000 | % | 82.89 | 4 144 500.00 | 0.21 |
| 2.50 | % Veolia Environnement SA 2020/perpetual * ......  | EUR | 3 000 000 | 3 000 000 |  | % | 76.002 | 2 280 060.00 | 0.11 |
| 3.25 | % Verisure Holding AB -Reg- (MTN) 2021/2027 ** ..  | EUR | 2 500 000 |  |  | % | 82.906 | 2 072 650.00 | 0.10 |
| 5.25 | % Verisure Midholding AB -Reg- (MTN) 2021/2029 ..  | EUR | 6 000 000 | 2 000 000 |  | % | 76.543 | 4 592 580.00 | 0.23 |
| 5.25 | % Via Celere Desarrollos Inmobiliarios SA -Reg- |  |  |  |  |  |  |  |  |
|  | (MTN) 2021/2026 ** .......................  | EUR | 3 000 000 |  | 1 500 000 | % | 86.392 | 2 591 760.00 | 0.13 |
| 3.625 | % Victoria PLC (MTN) 2021/2026 ** .............  | EUR | 6 000 000 |  |  | % | 78.086 | 4 685 160.00 | 0.24 |
| 3.75 | % Victoria PLC (MTN) 2021/2028 ................  | EUR | 7 470 000 | 1 340 000 |  | % | 69.122 | 5 163 413.40 | 0.26 |
| 3.00 | % Vivion Investments Sarl (MTN) 2019/2024 ** ....  | EUR | 4 000 000 |  | 6 000 000 | % | 86.667 | 3 466 680.00 | 0.17 |
| 3.25 | % Vmed O2 UK Financing I PLC -Reg- 2020/2031 ** | EUR | 7 000 000 | 2 000 000 | 8 000 000 | % | 77.4 | 5 418 000.00 | 0.27 |
| 4.20 | % Vodafone Group PLC 2018/2078 * .............  | EUR | 3 000 000 | 2 000 000 |  | % | 88.415 | 2 652 450.00 | 0.13 |
| 3.10 | % Vodafone Group PLC 2018/2079 * .............  | EUR | 3 000 000 |  |  | % | 95.738 | 2 872 140.00 | 0.14 |
| 3.00 | % Vodafone Group PLC 2020/2080 * .............  | EUR | 7 000 000 | 2 000 000 | 2 000 000 | % | 76.069 | 5 324 830.00 | 0.27 |
| 3.50 | % VZ Secured Financing BV -Reg- (MTN) 2022/2032 . | EUR | 7 000 000 | 7 000 000 |  | % | 75.693 | 5 298 510.00 | 0.27 |
| 2.875 | % VZ Vendor Financing II BV -Reg- (MTN) 2020/2029 | EUR | 13 000 000 | 1 000 000 |  | % | 74.569 | 9 693 970.00 | 0.49 |
| 5.875 | % Webuild SpA (MTN) 2020/2025 ** ............  | EUR | 10 200 000 | 3 520 000 | 5 800 000 | % | 91.623 | 9 345 546.00 | 0.47 |

| Security name | Count/ units/ currency | Quantity/ principal amount | Purchases/ additions in the | Sales/ disposals reporting period | Currency | Market price | Total market value in EUR | % of net assets |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 3.875 | % Webuild SpA 2022/2026 ** ..................  | EUR | 13 000 000 | 14 000 000 | 1 000 000 | % | 82.951 | 10 783 630.00 | 0.54 |
| 3.00 | % Wintershall Dea Finance 2 BV 2021/perpetual * ..  | EUR | 22 600 000 | 4 000 000 | 2 400 000 | % | 65.81 | 14 873 060.00 | 0.75 |
| 5.50 | % Wp/ap Telecom Holdings III BV -Reg- (MTN) 2021/2030 ................................  | EUR | 6 000 000 | 1 230 000 |  | % | 75.908 | 4 554 480.00 | 0.23 |
| 3.00 | % ZF Europe Finance BV (MTN) 2019/2029 ........  | EUR | 8 000 000 |  |  | % | 73.288 | 5 863 040.00 | 0.29 |
| 3.00 | % ZF Finance GmbH (MTN) 2020/2025 ...........  | EUR | 14 000 000 |  | 2 000 000 | % | 88.046 | 12 326 440.00 | 0.62 |
| 3.75 | % ZF Finance GmbH (MTN) 2020/2028 ...........  | EUR | 9 000 000 |  |  | % | 78.894 | 7 100 460.00 | 0.36 |
| 2.00 | % ZF Finance GmbH (MTN) 2021/2027 ...........  | EUR | 7 000 000 | 7 000 000 |  | % | 77.397 | 5 417 790.00 | 0.27 |
| 2.25 | % ZF Finance GmbH (MTN) 2021/2028 ...........  | EUR | 2 000 000 | 2 000 000 | 4 100 000 | % | 73.796 | 1 475 920.00 | 0.07 |
| 3.375 | % Ziggo Bond Co., BV -Reg- (MTN) 2020/2030 .....  | EUR | 7 000 000 | 2 000 000 |  | % | 70.669 | 4 946 830.00 | 0.25 |
| 2.875 | % Ziggo BV -Reg- 2019/2030 ** ................  | EUR | 7 000 000 | 4 750 000 |  | % | 76.517 | 5 356 190.00 | 0.27 |
| 6.50 | % AA Bond Co., Ltd -Reg- (MTN) 2021/2026 .......  | GBP | 3 920 000 |  |  | % | 91.718 | 4 198 052.55 | 0.21 |
| 6.75 | % Arqiva Broadcast Finance PLC (MTN) 2018/2023 ..  | GBP | 14 000 000 | 1 000 000 |  | % | 95.671 | 15 639 237.56 | 0.79 |
| 3.625 | % B&M European Value Retail SA (MTN) 2020/2025 ..  | GBP | 3 300 000 | 1 300 000 | 1 000 000 | % | 84.98 | 3 274 446.46 | 0.16 |
| 4.00 | % B&M European Value Retail SA (MTN) 2021/2028 ** .............................  | GBP | 2 700 000 |  | 2 300 000 | % | 78.796 | 2 484 134.83 | 0.12 |
| 6.00 | % Electricite de France SA (MTN) 2013/perpetual *..  | GBP | 10 000 000 | 2 000 000 |  | % | 88.503 | 10 333 922.97 | 0.52 |
| 7.875 | % Inspired Entertainment Financing PLC -Reg- (MTN) 2021/2026 ................................  | GBP | 5 560 000 |  |  | % | 97.496 | 6 329 491.45 | 0.32 |
| 3.875 | % Ocado Group Plc -Reg- (MTN) 2021/2026 ** ....  | GBP | 8 000 000 | 3 000 000 | 3 000 000 | % | 80.834 | 7 550 770.75 | 0.38 |
| 3.625 | % Pinewood Finance Co., Ltd -Reg- (MTN) 2021/2027 ** .............................  | GBP | 5 270 000 |  |  | % | 82.125 | 5 053 511.12 | 0.25 |
| 3.50 | % Premier Foods Finance PLC (MTN) 2021/2026 ** | GBP | 4 000 000 |  |  | % | 87.479 | 4 085 742.84 | 0.21 |
| 6.125 | % Punch Finance PLC -Reg- (MTN) 2021/2026. . . . . . | GBP | 2 500 000 |  | 1 000 000 | % | 84.034 | 2 453 026.68 | 0.12 |
| 6.875 | % TDC Holding A/S (MTN) 2011/2023 ............  | GBP | 6 200 000 |  |  | % | 99.305 | 7 189 025.64 | 0.36 |
| 5.875 | % Telecom Italia SpA (MTN) 2006/2023 ...........  | GBP | 5 000 000 |  | 2 000 000 | % | 101.009 | 5 897 083.86 | 0.30 |
| 3.75 | % Travis Perkins PLC (MTN) 2020/2026 ...........  | GBP | 1 500 000 |  |  | % | 87.194 | 1 527 161.93 | 0.08 |
| 6.50 | % Very Group Funding Plc -Reg- (MTN) 2021/2026 ** | GBP | 6 000 000 |  | 4 950 000 | % | 76.65 | 5 369 954.89 | 0.27 |
| 5.00 | % Virgin Media Secured Finance PLC -Reg- (MTN) 2017/2027 ................................  | GBP | 1 722 000 |  |  | % | 90.935 | 1 828 400.98 | 0.09 |
| 4.25 | % Virgin Media Secured Finance PLC -Reg- 2019/2030 ................................  | GBP | 8 125 000 |  |  | % | 80.886 | 7 673 684.80 | 0.39 |
| 4.50 | % Vmed O2 UK Financing I PLC -Reg- (MTN) 2021/2031 ................................  | GBP | 4 940 000 |  |  | % | 79.367 | 4 577 982.64 | 0.23 |
| 5.25 | % Electricite de France SA -Reg- 2013/perpetual * ** | USD | 4 000 000 |  |  | % | 94.262 | 3 620 068.01 | 0.18 |
| 0.00 | % Nyrstar Holdings, Inc. (MTN) 2019/2026.........  | USD | 4 324 300 | 18 | 1 127 017 | % | 85.334 | 3 542 892.78 | 0.18 |
| 6.25 | % Vodafone Group PLC 2018/2078 * .............  | USD | 8 000 000 |  |  | % | 96.052 | 7 377 623.49 | 0.37 |
| 5.125 | % Vodafone Group PLC 2021/2081 * ** ..........  | USD | 5 000 000 |  | 4 380 000 | % | 67.917 | 3 260 382.75 | 0.16 |
| Securities admitted to or included in organized markets |  |  |  |  |  |  | 8 851 570.21 | 0.44 |
| Interest-bearing securities 9.375 % DKT Finance ApS -144A- (MTN) 2018/2023 ......  | USD | 2 000 000 |  |  | % | 96.6 | 1 854 928.66 | 0.09 |
| 7.75  % Jaguar Land Rover Automotive PLC -144A- (MTN) 2020/2025 ................................  | USD | 2 150 000 |  |  | % | 94.987 | 1 960 752.24 | 0.10 |
| 7.125 % Kraft Heinz Foods Co. -144A- 2009/2039 ........  5.50 % Telenet Finance Luxembourg Notes Sarl -144A- 2017/2028 ................................  | USD USD | 2 326 000 3 000 000 |  |  | % % | 112.346 87.732 | 2 508 923.46 2 526 965.85 | 0.12 0.13 |
| Unlisted securities |  |  |  |  |  |  | 2 895 076.14 | 0.15 |
| Interest-bearing securities 8.00  % Altice France Holding SA -144A- (MTN) 2020/2027 | EUR | 3 500 000 |  |  | % | 82.716 | 2 895 060.00 | 0.15 |
| 12.00 % Cammell Laird Holdings PLC -Reg- (MTN) 2000/2010 * ..............................  | EUR | 13 250 000 |  |  | % | 0 | 13.25 | 0.00 |
| 0.00  % Galapagos SA -Reg- (MTN) 2014/2021 * ........  | EUR | 188 500 |  | 1 500 | % | 0 | 0.19 | 0.00 |
| 5.375 % Galapagos SA -Reg- (MTN) 2014/2021 * ........  | EUR | 302 600 |  |  | % | 0 | 0.30 | 0.00 |
| 10.00 % Medya Holding International Ltd 1996/2049 ***** | USD | 2 500 000 |  |  | % | 0 | 2.40 | 0.00 |
| Total securities portfolio |  |  |  |  |  |  | 1 839 320 634.87 | 92.42 |
| Derivatives (Minus signs denote short positions) |  |  |  |  |  |  |  |  |
| Interest rate derivatives Receivables/payables |  |  |  |  |  |  | -399 846.00 | -0.02 |
| Interest rate futures Germany Federal Republic Notes 10 year 09/2022 (DB) ....  | Count | -400 | 300 | 700 |  |  | -399 846.00 | -0.02 |
| Currency derivatives Receivables/payables |  |  |  |  |  |  | 3 934 270.68 | 0.20 |
| Forward currency transactions |  |  |  |  |  |  |  |  |
| Forward currency transactions (long) |  |  |  |  |  |  |  |  |
| Open positions CHF/EUR 266.8 million ..............................  |  |  |  |  |  |  | 4 626 214.99 | 0.23 |
| SEK/EUR 0.5 million ................................  |  |  |  |  |  |  | -184.51 | 0.00 |
| USD/EUR 6.2 million ................................  |  |  |  |  |  |  | 93 754.31 | 0.01 |

| Security name | Count/ units/ currency | Quantity/ principal amount | Purchases/ additions in the | Sales/ disposals reporting period | Currency | Market price | Total market value in EUR | % of net assets |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Closed positions CHF/EUR 21.2 million ...............................  |  |  |  |  |  |  | 46 849.22 | 0.00 |
| USD/EUR 31.1 million ...............................  |  |  |  |  |  |  | -25 755.55 | 0.00 |
| Forward currency transactions (short) |  |  |  |  |  |  |  |  |
| Open positions EUR/GBP 86.7 million ...............................  |  |  |  |  |  |  | -800 743.84 | -0.04 |
| Closed positions EUR/GBP 4.0 million ................................  |  |  |  |  |  |  | -5 863.94 | 0.00 |
| Cash at bank |  |  |  |  |  |  | 100 074 269.76 | 5.03 |
| Demand deposits at Depositary EUR deposits......................................  | EUR |  |  |  |  |  | 98 172 897.30 | 4.93 |
| Deposits in other EU/EEA currencies |  |  |  |  |  |  |  |  |
| Swedish krona.....................................  | SEK | 476 398 |  |  |  |  | 44 479.70 | 0.00 |
| Deposits in non-EU/EEA currencies |  |  |  |  |  |  |  |  |
| British pound .....................................  | GBP | 259 265 |  |  |  |  | 302 727.06 | 0.02 |
| Swiss franc .......................................  | CHF | 147 048 |  |  |  |  | 147 718.24 | 0.01 |
| U.S. dollar ........................................  | USD | 1 464 885 |  |  |  |  | 1 406 447.46 | 0.07 |
| Other assets |  |  |  |  |  |  | 68 394 712.46 | 3.44 |
| Prepaid placement fee *** ..........................  |  |  |  |  |  |  | 231 312.97 | 0.01 |
| Interest receivable .................................  |  |  |  |  |  |  | 30 191 573.58 | 1.52 |
| Other receivables ..................................  |  |  |  |  |  |  | 37 971 825.91 | 1.91 |
| Receivables from share certificate transactions |  |  |  |  |  |  | 1 974 450.87 | 0.10 |
| Total assets **** |  |  |  |  |  |  | 2 014 530 886.48 | 101.23 |
| Other liabilities |  |  |  |  |  |  | -3 801 449.38 | -0.20 |
| Liabilities from cost items ............................  |  |  |  |  |  |  | -2 700 098.66 | -0.14 |
| Additional other liabilities.............................  |  |  |  |  |  |  | -1 101 350.72 | -0.06 |
| Liabilities from share certificate transactions |  |  |  |  |  |  | -1 692 803.32 | -0.05 |
| Total liabilities |  |  |  |  |  |  | -24 418 339.56 | -1.23 |
| Net assets |  |  |  |  |  |  | 1 990 112 546.92 | 100.00 |

Negligible rounding errors may have arisen due to the rounding of calculated percentages.
A list of the transactions completed during the reporting period that no longer appear in the investment portfolio is available free of charge from the Management Company upon request.
| Net asset value per share and number of shares outstanding | Count/ currency | Net asset value per share in the respective currency |
| --- | --- | --- |
| Net asset value per share |  |  |
| Class CHF FCH ....................................  | CHF | 105.44 |
| Class CHF ICH50...................................  | CHF | 93.43 |
| Class CHF TFCH ...................................  | CHF | 85.03 |
| Class FC .........................................  | EUR | 148.54 |
| Class FD .........................................  | EUR | 89.06 |
| Class IC ..........................................  | EUR | 99.99 |
| Class IC50 ........................................  | EUR | 105.04 |
| Class ID ..........................................  | EUR | 85.78 |
| Class ID50 ........................................  | EUR | 86.05 |
| Class LC .........................................  | EUR | 142.04 |
| Class LD .........................................  | EUR | 96.17 |
| Class NC .........................................  | EUR | 126.62 |
| Class ND .........................................  | EUR | 86.90 |
| Class NDQ........................................  | EUR | 81.85 |
| Class PFC ........................................  | EUR | 108.91 |
| Class PFD ........................................  | EUR | 83.39 |
| Class PFDQ .......................................  | EUR | 85.70 |
| Class RDQ ........................................  | EUR | 83.68 |
| Class TFC ........................................  | EUR | 95.19 |
| Class TFD ........................................  | EUR | 81.36 |
| Class SEK LCH ....................................  | SEK | 1 088.21 |
| Class USD FCH ....................................  | USD | 134.13 |
| Class USD LCH ....................................  | USD | 129.17 |
| Class USD LDMH ..................................  | USD | 91.67 |
| Class USD TFCH ...................................  | USD | 103.76 |

| Net asset value per share and number of shares outstanding | Count/ currency | Net asset value per share in the respective currency |
| --- | --- | --- |
| Number of shares outstanding |  |  |
| Class CHF FCH ....................................  | Count | 2 597 530.192 |
| Class CHF ICH50...................................  | Count | 108.000 |
| Class CHF TFCH ...................................  | Count | 109.000 |
| Class FC .........................................  | Count | 1 026 717.814 |
| Class FD .........................................  | Count | 239 885.506 |
| Class IC ..........................................  | Count | 2 410 094.000 |
| Class IC50 ........................................  | Count | 3 173 958.000 |
| Class ID ..........................................  | Count | 99 151.000 |
| Class ID50 ........................................  | Count | 4 725 803.000 |
| Class LC .........................................  | Count | 758 344.430 |
| Class LD .........................................  | Count | 2 964 318.735 |
| Class NC .........................................  | Count | 276 533.350 |
| Class ND .........................................  | Count | 86 569.191 |
| Class NDQ........................................  | Count | 140 551.000 |
| Class PFC ........................................  | Count | 56 444.000 |
| Class PFD ........................................  | Count | 180 862.000 |
| Class PFDQ .......................................  | Count | 48 830.000 |
| Class RDQ ........................................  | Count | 84 631.000 |
| Class TFC ........................................  | Count | 282 980.715 |
| Class TFD ........................................  | Count | 133 265.000 |
| Class SEK LCH ....................................  | Count | 477.000 |
| Class USD FCH ....................................  | Count | 226 944.170 |
| Class USD LCH ....................................  | Count | 15 723.803 |
| Class USD LDMH ..................................  | Count | 36 560.236 |
| Class USD TFCH ...................................  | Count | 97.000 |

Composition of the reference portfolio (according to CSSF circular 11/512)
Bank of America Merrill Lynch Euro BB-B Non-Financial Fixed & FRN HY Constrained
Market risk exposure (value-at-risk) (according to CSSF circular 11/512)
| Lowest market risk exposure .........................  | % | 103.491 |
| --- | --- | --- |
| Highest market risk exposure .........................  | % | 119.118 |
| Average market risk exposure ........................  | % | 111.253 |

The values-at-risk were calculated for the period from January 1, 2022, through June 30, 2022, using historical simulation with a 99% confidence level, a 10-day holding period and an effective historical observation period of one year. The risk in a reference portfolio that does not contain derivatives is used as the measurement benchmark. Market risk is the risk to the fund’s assets arising from an unfavorable change in market prices. The Company determines the potential market risk by means of the relative value-at-risk approachas defined in CSSF circular 11/512.
In the reporting period, the average leverage effect from the use of derivatives was 0.1, whereby the total of the nominal amounts of the derivatives in relation to the fund’s assets was used for the calculation (sum-of-notional approach).
The gross exposure generated via derivatives pursuant to point 40 a) of the “Guidelines on ETFs and other UCITS issues” of the European Securities and Markets Authority (ESMA) totaled EUR 190 790 718.89. Does not include any forward currency transactions entered into for currency hedging purposes at the level of the share classes.
 Market abbreviations	 Futures exchanges
DB = Deutsche Bank AG Frankfurt
Contracting parties for forward currency transactions
BNP Paribas S.A., Deutsche Bank AG, HSBC France, Royal Bank of Canada (UK), Société Générale, State Street Bank International GmbH and UBS AG.

####  Securities lending	
The following securities were transferred under securities loans at the reporting date:
| Security name | Currency/ quantity/ principal amount | Quantity/ principal amount | Securities loans Total market value in EUR No fixed maturity | Total |
| --- | --- | --- | --- | --- |
| 4.125 | % Adler Pelzer Holding GmbH -Reg- (MTN) 2017/2024 EUR | 9 000 000 | 7 011 000.00 |
| 6.00 | % ams-OSRAM AG -Reg- (MTN) 2020/2025	EUR | 11 800 000 | 11 006 804.00 |
| 4.625 | % APCOA Parking Holdings GmbH -Reg- (MTN) |  |  |
|  | 2021/2027	EUR | 6 300 000 | 5 149 872.00 |
| 3.75 | % Axalta Coating Systems Dutch Holding B BV -Reg- |  |  |
|  | (MTN) 2016/2025	EUR | 1 900 000 | 1 723 338.00 |
| 4.498 | % Casino Guichard Perrachon SA (MTN) 2014/2024 EUR | 1 000 000 | 810 060.00 |
| 7.50 | % CMA CGM SA -Reg- (MTN) 2020/2026	EUR | 7 200 000 | 7 390 152.00 |
| 2.75 | % ContourGlobal Power Holdings SA -Reg- (MTN) |  |  |
|  | 2020/2026	EUR | 821 000 | 676 545.05 |
| 3.875 | % Coty, Inc. -Reg- (MTN) 2021/2026	EUR | 1 029 000 | 913 175.76 |
| 5.25 | % Ctec II GmbH -Reg- (MTN) 2022/2030	EUR | 1 100 000 | 799 887.00 |
| 4.75 | % Cullinan Holdco Scsp -Reg- (MTN) 2021/2026 *..	EUR | 1 500 000 | 1 237 755.00 |
| 3.00 | % Dometic Group AB (MTN) 2019/2026	EUR | 1 700 000 | 1 466 063.00 |
| 6.00 | % Douglas GmbH -Reg- (MTN) 2021/2026	EUR | 100 000 | 78 016.00 |

| Security | name | Currency/ quantity/ principal amount | Quantity/ principal amount | Securities loans Total market value in EUR No fixed maturity | Total |
| --- | --- | --- | --- | --- | --- |
| 2.625 | % Drax Finco PLC (MTN) 2020/2025 ............  | EUR | 190 000 | 174 298.40 |  |
| 5.50 | % eDreams ODIGEO SA -Reg- (MTN) 2022/2027 ..  | EUR | 1 000 000 | 802 620.00 |  |
| 3.375 | % Electricite de France SA 2020/perpetual * ......  | EUR | 200 000 | 131 138.00 |  |
| 3.75 | % Elior Group SA (MTN) 2021/2026 .............  | EUR | 1 900 000 | 1 485 078.00 |  |
| 6.375 | % Ellaktor Value Plc -Reg- (MTN) 2019/2024 ......  | EUR | 4 000 000 | 3 852 960.00 |  |
| 4.00 | % Energia Group NI FinanceCo PLC Via Energia Group ROI Holdings DAC -Reg- (MTN) 2017/2025 .....  | EUR | 2 500 000 | 2 253 025.00 |  |
| 2.75 | % Faurecia SE (MTN) 2021/2027 ...............  | EUR | 2 000 000 | 1 564 820.00 |  |
| 8.125 | % Gamma Bondco Sarl -Reg- (MTN) 2021/2026....  | EUR | 3 240 000 | 2 762 326.80 |  |
| 5.375 | % Goldstory SASU -Reg- (MTN) 2021/2026 .......  | EUR | 2 402 000 | 2 037 136.20 |  |
| 3.25 | % Guala Closures SpA -Reg- (MTN) 2021/2028 ....  | EUR | 2 200 000 | 1 780 394.00 |  |
| 5.625 | % HSE Finance Sarl (MTN) 2021/2026 ...........  | EUR | 100 000 | 68 969.00 |  |
| 2.875 | % INEOS Finance PLC -Reg- (MTN) 2019/2026 ....  | EUR | 800 000 | 700 416.00 |  |
| 2.25 | % INEOS Styrolution Group GmbH -Reg- (MTN) 2020/2027 ...............................  | EUR | 4 200 000 | 3 266 802.00 |  |
| 6.50 | % International Design Group SPA -Reg- (MTN) 2018/2025 ...............................  | EUR | 1 706 000 | 1 535 826.50 |  |
| 1.75 | % IQVIA, Inc. -Reg- (MTN) 2021/2026 ...........  | EUR | 500 000 | 441 230.00 |  |
| 4.75 | % Italmatch Chemicals SpA -Reg- (MTN) 2018/2024 * | EUR | 2 500 000 | 2 274 000.00 |  |
| 6.50 | % Kleopatra Holdings 2 SCA -Reg- (MTN) 2021/2026 | EUR | 7 200 000 | 4 718 520.00 |  |
| 6.75 | % KME SE -Reg- (MTN) 2018/2023 .............  | EUR | 20 000 000 | 19 587 400.00 |  |
| 5.00 | % Kongsberg Actuation Systems BV -Reg- (MTN) |  |  |  |  |
| 2018/2025	EUR | 4 140 000 | 3 424 980.60 |
| 5.125 | % La Financiere Atalian SASU -Reg- (MTN) 2018/2025 | EUR | 2 200 000 | 1 694 660.00 |
| 4.50 | % LOXAM SAS (MTN) 2022/2027 ..............  | EUR | 4 500 000 | 3 880 350.00 |
| 5.625 | % Lune Holdings Sarl -Reg- (MTN) 2021/2028 .....  | EUR | 14 990 000 | 12 154 191.80 |
| 6.125 | % Marcolin SpA -Reg- (MTN) 2021/2026 .........  | EUR | 4 800 000 | 4 175 424.00 |
| 4.00 | % Matterhorn Telecom SA -Reg- (MTN) 2017/2027 . | EUR | 3 000 000 | 2 569 200.00 |
| 5.875 | % Maxeda DIY Holding BV -Reg- (MTN) 2020/2026 . | EUR | 1 300 000 | 924 092.00 |
| 1.625 | % Nexi SpA (MTN) 2021/2026 .................  | EUR | 3 000 000 | 2 450 910.00 |
| 2.125 | % Nexi SpA (MTN) 2021/2029 .................  | EUR | 6 000 000 | 4 202 760.00 |
| 7.00 | % Nitrogenmuvek Vegyipari Zrt -Reg- (MTN) 2018/2025 ...............................  | EUR | 1 300 000 | 1 132 118.00 |
| 3.625 | % Nobian Finance BV -Reg- (MTN) 2021/2026 .....  | EUR | 6 500 000 | 5 054 010.00 |
| 4.50 | % Norican A/S (MTN) 2017/2023 ...............  | EUR | 11 411 000 | 10 062 676.24 |
| 5.00 | % Novafives SAS -Reg- (MTN) 2018/2025 ........  | EUR | 4 500 000 | 2 957 985.00 |
| 3.375 | % Novelis Sheet Ingot GmbH (MTN) 2021/2029 ...  | EUR | 100 000 | 79 386.00 |
| 3.875 | % Olympus Water US Holding Corp. -Reg- (MTN) 2021/2028 ...............................  | EUR | 1 800 000 | 1 466 028.00 |
| 3.625 | % Piaggio & C SpA -Reg- (MTN) 2018/2025 .......  | EUR | 1 458 000 | 1 392 608.70 |
| 3.75 | % Playtech Plc (MTN) 2018/2023 ...............  | EUR | 500 000 | 491 810.00 |
| 4.625 | % PLT VII Finance Sarl -Reg- (MTN) 2020/2026 ....  | EUR | 4 000 000 | 3 518 240.00 |
| 3.00 | % ProGroup AG -Reg- (MTN) 2018/2026 .........  | EUR | 2 950 000 | 2 610 425.50 |
| 5.875 | % Quatrim SASU -Reg- (MTN) 2019/2024 ........  | EUR | 7 530 000 | 7 191 225.30 |
| 6.375 | % Raffinerie Heide GmbH -Reg- (MTN) 2017/2022 . | EUR | 5 900 000 | 5 540 572.00 |
| 2.50 | % Renault SA (MTN) 2021/2028 ................  | EUR | 1 600 000 | 1 228 112.00 |
| 4.247 | % Repsol International Finance BV 2020/perpetual * EUR | 3 619 000 | 3 113 787.60 |
| 2.125 | % Rexel SA (MTN) 2021/2028	EUR | 785 000 | 610 478.80 |
| 5.25 | % Rimini Bidco SpA -Reg- (MTN) 2021/2026 *	EUR | 17 300 000 | 14 799 112.00 |
| 3.375 | % Saipem Finance International BV (MTN) 2020/2026  EUR | 2 600 000 | 2 064 062.00 |
| 2.875 | % Samhallsbyggnadsbolaget i Norden AB 2021/perpetual *	EUR | 2 000 000 | 662 340.00 |
| 3.50 | % Samsonite Finco Sarl -Reg- (MTN) 2018/2026 ...	EUR | 4 400 000 | 3 729 924.00 |
| 3.375 | % Schaeffler AG (MTN) 2020/2028	EUR | 2 700 000 | 2 195 451.00 |
| 6.375 | % Schoeller Packaging BV -Reg- (MTN) 2019/2024 .	EUR | 3 500 000 | 2 957 780.00 |
| 4.375 | % SCIL IV LLC Via SCIL USA Holdings LLC -Reg- (MTN) 2021/2026	EUR | 6 271 000 | 5 118 013.94 |
| 4.50 | % Shiba Bidco SpA -Reg- (MTN) 2021/2028	EUR | 1 000 000 | 828 930.00 |
| 6.25 | % Standard Profil Automotive GmbH -Reg- (MTN) 2021/2026	EUR | 3 900 000 | 2 419 365.00 |
| 6.00 | % Superior Industries International, Inc. -Reg- (MTN) 2017/2025	EUR | 5 470 000 | 4 436 498.20 |
| 2.00 | % Techem Verwaltungsgesellschaft 675 mbH -Reg- (MTN) 2020/2025	EUR | 2 900 000 | 2 550 231.00 |
| 7.75 | % Telecom Italia Finance SA (MTN) 2003/2033	EUR | 4 000 000 | 4 159 800.00 |
| 3.50 | % Telenet Finance Luxembourg Notes Sarl -Reg- 2017/2028	EUR | 2 500 000 | 2 139 050.00 |
| 4.375 | % Teva Pharmaceutical Finance Netherlands II BV (MTN) 2021/2030	EUR | 1 200 000 | 959 076.00 |
| 3.875 | % Trafigura Funding SA (MTN) 2021/2026	EUR | 3 000 000 | 2 590 260.00 |
| 5.25 | % United Group BV -Reg- (MTN) 2022/2030	EUR | 1 825 000 | 1 355 701.25 |
| 3.625 | % UPCB Finance VII Ltd -Reg- 2017/2029	EUR | 1 600 000 | 1 326 240.00 |
| 3.25 | % Verisure Holding AB -Reg- (MTN) 2021/2027	EUR | 2 500 000 | 2 072 650.00 |
| 5.25 | % Via Celere Desarrollos Inmobiliarios SA -Reg- (MTN) 2021/2026	EUR | 100 000 | 86 392.00 |

| Security | name | Currency/ quantity/ principal amount | Quantity/ principal amount | Securities loans Total market value in EUR No fixed maturity | Total |
| --- | --- | --- | --- | --- | --- |
| 3.625 | % Victoria PLC (MTN) 2021/2026 ...............  | EUR | 4 400 000 | 3 435 784.00 |  |
| 3.00 | % Vivion Investments Sarl (MTN) 2019/2024 ......  | EUR | 4 000 000 | 3 466 680.00 |  |
| 3.25 | % Vmed O2 UK Financing I PLC -Reg- 2020/2031 ..  | EUR | 2 200 000 | 1 702 800.00 |  |
| 5.875 | % Webuild SpA (MTN) 2020/2025 ..............  | EUR | 8 200 000 | 7 513 086.00 |  |
| 3.875 | % Webuild SpA 2022/2026 ....................  | EUR | 6 836 000 | 5 670 530.36 |  |
| 2.875 | % Ziggo BV -Reg- 2019/2030 ..................  | EUR | 7 000 000 | 5 356 190.00 |  |
| 4.00 | % B&M European Value Retail SA (MTN) 2021/2028 | GBP | 1 800 000 | 1 656 089.89 |  |
| 3.875 | % Ocado Group Plc -Reg- (MTN) 2021/2026 ......  | GBP | 3 500 000 | 3 303 462.19 |  |
| 3.625 | % Pinewood Finance Co., Ltd -Reg- (MTN) 2021/2027 | GBP | 1 100 000 | 1 054 812.57 |  |
| 3.50 | % Premier Foods Finance PLC (MTN) 2021/2026 ..  | GBP | 120 000 | 122 572.29 |  |
| 6.50 | % Very Group Funding Plc -Reg- (MTN) 2021/2026 . | GBP | 3 500 000 | 3 132 473.68 |  |
| 5.25 | % Electricite de France SA -Reg- 2013/perpetual * . | USD | 500 000 | 452 508.50 |  |
| 5.125 | % Vodafone Group PLC 2021/2081 * ............  | USD | 100 000 | 65 207.65 |  |

Total receivables from securities loans	263 008 732.77	263 008 732.77
Contracting parties for securities loans
Barclays Bank Ireland PLC FI, BNP Paribas Arbitrage SNC, BNP Paribas S.A., Credit Agricole CIB S.A. FI, Crédit Suisse Securities Sociedad de Valores S.A. FI, Deutsche Bank AG FI, Goldman Sachs Bank Europe SE EQ, J.P. Morgan AG EQ, J.P. Morgan AG FI, Morgan Stanley Europe SE FI, Nomura Financial Products Europe GmbH, Royal Bank of Canada London Branch, UBS AG London Branch, Zuercher Kantonalbank
| Total collateral pledged by third parties for securities loans thereof: Bonds |  | EUR EUR | 276 594 129.69 167 404 928.58 |
| --- | --- | --- | --- |
| Equities |  | EUR | 109 180 654.77 |
| Cash at bank |  | EUR | 8 546.34 |
| Exchange rates (indirect quotes) |  |  |  |
|  | As of June 30, 2022 |  |  |
| Swiss franc .....................  CHF	0.995461 British pound ...................  GBP	0.856432 Swedish krona...................  SEK	10.710462 U.S. dollar ...................... USD	1.041549 | = EUR	1 = EUR	1 = EUR	1 = EUR	1 |  |  |
| Notes on valuation |  |  |  |

Under the responsibility of the Board of Directors of the SICAV, the Management Company determines the net asset values per share and performs the valuation of the assets of the fund. The basic provision of price data and price validation are performed in accordance with the method introduced by the Board of Directors of the SICAV on the basis of the legal and regulatory requirements or the principles for valuation methods defined in the SICAV’s prospectus.
If no trading prices are available, prices are determined with the aid of valuation models (derived market values) which are agreed between State Street Bank International GmbH, Luxembourg Branch, as external price service provider and the Management Company and which are based as far as possible on market parameters. This procedure is subject to an ongoing monitoring process. The plausibility of price information from third parties is checked through other pricing sources, model calculations or other suitable procedure.
Assets reported in this report are valued at derived market values.
Footnotes
* Floating interest rate.
** Some or all of these securities are lent.
*** The prepaid placement fee is amortized over a period of three years (as specified in article 12 (d) of the general section of the fund‘s management regulations).
**** Does not include positions with a negative balance, if such exist.
***** The issuer of the securities has declared insolvency.

Translation (ENDE, 2022-06-30):
# DWS Invest Euro High Yield Corporates
DWS INVEST EURO HIGH YIELD CORPORATES

### Wertentwicklung der Anteilklassen vs. Vergleichsindex (in EUR)
| Anteilklasse | ISIN | 6 Monate |
| --- | --- | --- |
| Klasse LC | LU0616839501 | -15,1% |
| Klasse FC | LU0616840772 | -14,9% |
| Klasse FD | LU0813334322 | -14,9% |
| Klasse IC | LU1054331407 | -14,8% |
| Klasse IC50 | LU1506496410 | -14,8% |
| Klasse ID | LU1054331589 | -14,8% |
| Klasse ID50 | LU1432415641 | -14,8% |
| Klasse LD | LU0616839766 | -15,1% |
| Klasse NC | LU0616840186 | -15,3% |
| Klasse ND | LU0616840426 | -15,3% |
| Klasse NDQ | LU1054332397 | -15,3% |
| Klasse PFC | LU1054332470 | -15,5% |
| Klasse PFD | LU2244927310 | -15,7% |
| Klasse PFDQ | LU1054332553 | -15,0% |
| Klasse RDQ | LU1808738642 | -14,7% |
| Klasse TFC | LU1663875406 | -14,9% |
| Klasse TFD | LU1663877287 | -14,9% |
| Klasse CHF FCH 1) | LU1426784200 | -15,0% |
| Klasse CHF ICH50 1) | LU2203794693 | -14,8% |
| Klasse CHF TFCH 1) | LU2366188972 | -15,0% |
| Klasse SEK LCH 2) | LU1322113298 | -15,1% |
| Klasse USD FCH 3) | LU0911036480 | -14,4% |
| Klasse USD LCH 3) | LU0911036308 | -14,6% |
| Klasse USD LDMH 3) | LU0616840939 | -14,6% |
| Klasse USD TFCH 3) | LU1663879069 | -14,4% |


##### ML Euro BB-B Non-Financial Fixed & FRN HY Constr. Index
1) 
in CHF
2) 
in SEK
3) 
in USD

##### -15,0%
Wertentwicklung nach BVI-Methode, d. h. ohne Berücksichtigung des Ausgabeaufschlages.
Wertentwicklungen der Vergangenheit ermöglichen keine Prognose für die Zukunft.	Stand: 30.6.2022
DWS Invest Euro High Yield Corporates
| Vermögensübersicht zum 30.6.2022 |  |
| --- | --- |
|  | Bestand in EUR | %-Anteil am Fondsvermögen |
| I. Vermögensgegenstände |  |  |
| 1. Anleihen (Emittenten) Unternehmen | 1 835 899 332,47 | 92,25 |
| Institute | 3 421 302,40 | 0,17 |
| Summe Anleihen | 1 839 320 634,87 | 92,42 |
| 2. Derivate | 3 534 424,68 | 0,18 |
| 3. Bankguthaben | 100 074 269,76 | 5,03 |
| 4. Sonstige Vermögensgegenstände | 68 394 712,46 | 3,44 |
| 5. Forderungen aus Anteilscheingeschäften | 1 974 450,87 | 0,10 |
| II. Verbindlichkeiten |  |  |
| 1. Sonstige Verbindlichkeiten | -3 801 449,38 | -0,20 |
| 2. Verbindlichkeiten aus Anteilscheingeschäften | -19 384 496,34 | -0,97 |
| III. Fondsvermögen | 1 990 112 546,92 | 100,00 |
| Durch Rundung der Prozentanteile bei der Berechnung können geringfügige Rundungsdifferenzen entstanden sein. |  |  |

| Vermögensaufstellung zum 30.6.2022 |  |
| --- | --- |
|  | Stück bzw. | Nominalbetrag | Käufe/ | Verkäufe/ | Währung | Kurs | Kurswert | %-Anteil am |
| Wertpapierbezeichnung | Anteile bzw. | bzw. | Zugänge | Abgänge |  |  | in | Fonds- |
| Währung	Bestand	im Berichtszeitraum	EUR	vermögen |

Börsengehandelte Wertpapiere	1 827 573 988,52	91,83
Verzinsliche Wertpapiere
| 3,625 | % Durfy One BV (MTN) 2021/2026  ............  | CHF | 16 000 000 | 1 000 000 | 1 000 000 | % | 88,497 | 14 224 084,16 | 0,71 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 3,248 | % Abertis Infraestructuras Finance BV 2020/perpetual * | EUR | 4 300 000 |  |  | % | 80,254 | 3 450 922,00 | 0,17 |
| 2,625 | % Abertis Infraestructuras Finance BV 2021/perpetual * | EUR | 5 000 000 | 5 000 000 |  | % | 72,407 | 3 620 350,00 | 0,18 |
| 2,375 | % Accor SA (MTN) 2021/2028 ................  | EUR | 8 000 000 |  |  | % | 79,677 | 6 374 160,00 | 0,32 |
| 2,625 | % Adevinta ASA -Reg- (MTN) 2020/2025  .......  | EUR | 10 000 000 |  | 1 700 000 | % | 90,315 | 9 031 500,00 | 0,45 |
| 2,75 | % ADLER Group SA (MTN) 2020/2026  .........  | EUR | 2 500 000 |  | 2 100 000 | % | 51,415 | 1 285 375,00 | 0,06 |
| 1,875 | % ADLER Group SA (MTN) 2021/2026  .........  | EUR | 5 000 000 |  | 3 500 000 | % | 52,294 | 2 614 700,00 | 0,13 |
| 2,25 | % ADLER Group SA (MTN) 2021/2029  .........  | EUR | 11 200 000 |  | 2 800 000 | % | 47,86 | 5 360 320,00 | 0,27 |
| 2,25 | % ADLER Group SA (MTN) 2021/2027  .........  | EUR | 7 700 000 |  |  | % | 48,805 | 3 757 985,00 | 0,19 |
| 4,125 | % Adler Pelzer Holding GmbH -Reg- (MTN) |  |  |  |  |  |  |  |  |
|  | 2017/2024 ** ...........................  | EUR | 8 000 000 | 1 100 000 | 1 000 000 | % | 77,9 | 6 232 000,00 | 0,31 |
| 3,625 | % Ahlstrom-Munksjo Holding 3 Oy -Reg- (MTN) |  |  |  |  |  |  |  |  |
|  | 2021/2028  .............................  | EUR | 3 500 000 |  | 2 500 000 | % | 81,574 | 2 855 090,00 | 0,14 |
| 2,875 | % Akropolis Group Uab (MTN) 2021/2026 .......  | EUR | 15 500 000 | 1 650 000 | 500 000 | % | 87,352 | 13 539 560,00 | 0,68 |
| 5,25 | % Albion Financing 1 SARL Via Aggreko Holdings, |  |  |  |  |  |  |  |  |
|  | Inc. -Reg- (MTN) 2021/2026  ...............  | EUR | 6 320 000 |  |  | % | 83,703 | 5 290 029,60 | 0,27 |
| 3,625 | % Allied Universal Holdco LLC Via Allied Universal |  |  |  |  |  |  |  |  |
|  | Finance Corp Via Atlas Luxco 4 Sarl -Reg- (MTN) |  |  |  |  |  |  |  |  |
|  | 2021/2028  .............................  | EUR | 2 000 000 |  | 13 000 000 | % | 76,242 | 1 524 840,00 | 0,08 |
| 4,125 | % Allwyn International AS -Reg- (MTN) 2019/2024 | EUR | 5 000 000 |  | 7 000 000 | % | 95,16 | 4 758 000,00 | 0,24 |
| 3,875 | % Allwyn International AS -Reg- (MTN) 2020/2027 | EUR | 6 000 000 | 3 000 000 | 2 000 000 | % | 85,782 | 5 146 920,00 | 0,26 |
| 4,875 | % Almaviva-The Italian Innovation Co., SpA (MTN) |  |  |  |  |  |  |  |  |
|  | 2021/2026  .............................  | EUR | 2 000 000 | 2 000 000 |  | % | 84,973 | 1 699 460,00 | 0,09 |
| 2,25 | % Altice Financing SA -Reg- (MTN) 2020/2025  ...  | EUR | 5 000 000 |  | 2 000 000 | % | 88,032 | 4 401 600,00 | 0,22 |
| 4,25 | % Altice Financing SA -Reg- (MTN) 2021/2029  ...  | EUR | 2 000 000 | 2 000 000 |  | % | 75,872 | 1 517 440,00 | 0,08 |
| 5,875 | % Altice France SA -Reg- (MTN) 2018/2027  .....  | EUR | 21 004 000 |  | 6 000 000 | % | 87,137 | 18 302 255,48 | 0,92 |
| 4,25 | % Altice France SA -Reg- (MTN) 2021/2029  .....  | EUR | 11 000 000 | 4 000 000 | 2 000 000 | % | 74,904 | 8 239 440,00 | 0,41 |
| 6,00 | % ams-OSRAM AG -Reg- (MTN) 2020/2025 ** ...  | EUR | 20 000 000 | 1 000 000 |  | % | 93,278 | 18 655 600,00 | 0,94 |
| 4,625 | % APCOA Parking Holdings GmbH -Reg- (MTN) |  |  |  |  |  |  |  |  |
|  | 2021/2027 ** ...........................  | EUR | 7 000 000 |  |  | % | 81,744 | 5 722 080,00 | 0,29 |
| 2,125 | % Ardagh Packaging Finance PLC Via Ardagh |  |  |  |  |  |  |  |  |
|  | Holdings USA, Inc. -Reg- (MTN) 2020/2026  ...  | EUR | 4 000 000 |  | 3 000 000 | % | 81,443 | 3 257 720,00 | 0,16 |
| 1,875 | % Arena Luxembourg Finance Sarl -Reg- (MTN) |  |  |  |  |  |  |  |  |
|  | 2020/2028  .............................  | EUR | 5 000 000 | 5 000 000 |  | % | 72,637 | 3 631 850,00 | 0,18 |
| 5,00 | % AT&S Austria Technologie & Systemtechnik AG |  |  |  |  |  |  |  |  |
|  | 2022/perpetual * .........................  | EUR | 11 000 000 | 11 000 000 |  | % | 85,925 | 9 451 750,00 | 0,47 |
| 3,875 | % Avantor Funding, Inc. -Reg- (MTN) 2020/2028  . | EUR | 2 000 000 | 2 000 000 |  | % | 86,969 | 1 739 380,00 | 0,09 |
| 2,625 | % Avantor Funding, Inc. -Reg- (MTN) 2020/2025  . | EUR | 6 000 000 | 2 000 000 |  | % | 93,087 | 5 585 220,00 | 0,28 |
| 3,75 | % Axalta Coating Systems Dutch Holding B BV -Reg- |  |  |  |  |  |  |  |  |
|  | (MTN) 2016/2025 ** ......................  | EUR | 5 000 000 | 5 000 000 |  | % | 90,702 | 4 535 100,00 | 0,23 |
| 3,125 | % Bayer AG 2019/2079 * ....................  | EUR | 3 000 000 | 3 000 000 |  | % | 76,524 | 2 295 720,00 | 0,12 |
| 5,375 | % Bayer AG 2022/2082 * ....................  | EUR | 22 000 000 | 22 000 000 |  | % | 83,84 | 18 444 800,00 | 0,93 |
| 5,25 | % BK LC Lux Finco1 Sarl -Reg- (MTN) 2021/2029 | EUR | 14 000 000 | 6 500 000 | 1 500 000 | % | 79,641 | 11 149 740,00 | 0,56 |
| 4,498 | % Casino Guichard Perrachon SA (MTN) 2014/2024 ** | EUR | 10 000 000 | 2 000 000 |  | % | 81,006 | 8 100 600,00 | 0,41 |
| 3,58 | % Casino Guichard Perrachon SA (MTN) 2014/2025 . | EUR | 3 000 000 |  | 2 000 000 | % | 74,271 | 2 228 130,00 | 0,11 |
| 6,00 | % Castor SpA -Reg- (MTN) 2022/2029  .........  | EUR | 11 000 000 | 11 000 000 |  | % | 90,152 | 9 916 720,00 | 0,50 |
| 2,375 | % Catalent Pharma Solutions, Inc. -Reg- (MTN) |  |  |  |  |  |  |  |  |
|  | 2020/2028  .............................  | EUR | 5 070 000 | 5 070 000 |  | % | 81,893 | 4 151 975,10 | 0,21 |
| 1,75 | % Ceconomy AG (MTN) 2021/2026  ...........  | EUR | 6 500 000 |  | 1 500 000 | % | 72,11 | 4 687 150,00 | 0,24 |
| 1,25 | % Cellnex Finance Co. SA (MTN) 2021/2029  ....  | EUR | 2 000 000 | 2 000 000 |  | % | 74,657 | 1 493 140,00 | 0,07 |
| 2,00 | % Cellnex Finance Co. SA (MTN) 2021/2033  ....  | EUR | 10 000 000 |  |  | % | 66,596 | 6 659 600,00 | 0,33 |
| 1,50 | % Cellnex Finance Co. SA (MTN) 2021/2028  ....  | EUR | 6 000 000 | 5 000 000 | 3 000 000 | % | 78,354 | 4 701 240,00 | 0,24 |
| 1,875 | % Cellnex Telecom SA (MTN) 2020/2029  .......  | EUR | 8 000 000 | 2 300 000 | 2 000 000 | % | 76,624 | 6 129 920,00 | 0,31 |
| 1,75 | % Cellnex Telecom SA (MTN) 2020/2030  .......  | EUR | 11 000 000 | 2 000 000 |  | % | 71,435 | 7 857 850,00 | 0,39 |
| 0,75 | % Cellnex Telecom SA 2020/2031  ............  | EUR | 5 000 000 |  |  | % | 68,426 | 3 421 300,00 | 0,17 |
| 5,875 | % Centurion Bidco SpA -Reg- (MTN) 2020/2026 ..  | EUR | 10 000 000 |  | 2 000 000 | % | 88,477 | 8 847 700,00 | 0,44 |
| 4,00 | % Chemours Co. (MTN) 2018/2026 ............  | EUR | 32 000 000 | 3 000 000 | 4 000 000 | % | 89,044 | 28 494 080,00 | 1,43 |
| 3,625 | % Cirsa Finance International Sarl -Reg- (MTN) |  |  |  |  |  |  |  |  |
|  | 2019/2025 * ............................  | EUR | 2 000 000 | 2 000 000 |  | % | 90,351 | 1 807 020,00 | 0,09 |
| 4,375 | % Clarios Global LP Via Clarios US Finance Co. -Reg- |  |  |  |  |  |  |  |  |
|  | (MTN) 2019/2026 ........................  | EUR | 5 000 000 |  | 1 000 000 | % | 87,773 | 4 388 650,00 | 0,22 |
| 7,50 | % CMA CGM SA -Reg- (MTN) 2020/2026 ** .....  | EUR | 11 000 000 | 1 000 000 | 2 000 000 | % | 102,641 | 11 290 510,00 | 0,57 |
| 5,00 | % Consolidated Energy Finance SA -Reg- (MTN) |  |  |  |  |  |  |  |  |
|  | 2021/2028  .............................  | EUR | 23 000 000 | 6 700 000 |  | % | 81,913 | 18 839 990,00 | 0,95 |
| 4,25 | % Constellium SE -Reg- (MTN) 2017/2026  ......  | EUR | 13 050 000 | 8 550 000 | 2 000 000 | % | 90,881 | 11 859 970,50 | 0,60 |
| 3,125 | % Constellium SE -Reg- (MTN) 2021/2029  ......  | EUR | 4 000 000 | 1 000 000 | 2 000 000 | % | 77,393 | 3 095 720,00 | 0,16 |
| 4,125 | % ContourGlobal Power Holdings SA -Reg- (MTN) |  |  |  |  |  |  |  |  |
|  | 2018/2025  .............................  | EUR | 4 960 000 |  |  | % | 91,922 | 4 559 331,20 | 0,23 |
| 2,75 | % ContourGlobal Power Holdings SA -Reg- (MTN) |  |  |  |  |  |  |  |  |
|  | 2020/2026 ** ...........................  | EUR | 7 000 000 | 1 930 000 |  | % | 82,405 | 5 768 350,00 | 0,29 |
| 3,125 | % ContourGlobal Power Holdings SA -Reg- (MTN) |  |  |  |  |  |  |  |  |
|  | 2020/2028  .............................  | EUR | 2 000 000 |  |  | % | 78,317 | 1 566 340,00 | 0,08 |
| 3,875 | % Coty, Inc. -Reg- (MTN) 2021/2026 ** .........  | EUR | 4 000 000 |  | 2 010 000 | % | 88,744 | 3 549 760,00 | 0,18 |
| 3,375 | % Crown European Holdings SA -Reg- (MTN) |  |  |  |  |  |  |  |  |
|  | 2015/2025  .............................  | EUR | 8 500 000 |  | 6 000 000 | % | 96,941 | 8 239 985,00 | 0,41 |
| 5,25 | % Ctec II GmbH -Reg- (MTN) 2022/2030 ** .....  | EUR | 2 000 000 | 4 000 000 | 2 000 000 | % | 72,717 | 1 454 340,00 | 0,07 |
| 4,625 | % Cullinan Holdco Scsp -Reg- (MTN) 2021/2026  . | EUR | 10 000 000 | 3 000 000 |  | % | 81,399 | 8 139 900,00 | 0,41 |

| Wertpapierbezeichnung | Stück bzw. Anteile bzw. | Nominalbetrag bzw. | Käufe/ Zugänge | Verkäufe/ Abgänge | Währung | Kurs | Kurswert in | %-Anteil am Fonds- |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Währung	Bestand	im Berichtszeitraum	EUR	vermögen |
| 4,75 | % Cullinan Holdco Scsp -Reg- (MTN) 2021/2026 * ** | EUR | 3 000 000 | 3 000 000 |  | % | 82,517 | 2 475 510,00 | 0,12 |
| 3,75 | % Deutsche Lufthansa AG (MTN) 2021/2028  ....  | EUR | 20 000 000 |  | 1 000 000 | % | 80,808 | 16 161 600,00 | 0,81 |
| 3,50 | % Deutsche Lufthansa AG (MTN) 2021/2029  ....  | EUR | 1 500 000 |  | 6 500 000 | % | 75,783 | 1 136 745,00 | 0,06 |
| 2,875 | % Deutsche Lufthansa AG (MTN) 2021/2027  ....  | EUR | 9 000 000 | 1 800 000 |  | % | 79,482 | 7 153 380,00 | 0,36 |
| 2,25 | % DIC Asset AG (MTN) 2021/2026  ............  | EUR | 18 800 000 | 2 800 000 |  | % | 67,532 | 12 696 016,00 | 0,64 |
| 7,00 | % DKT Finance ApS -Reg- (MTN) 2018/2023  ....  | EUR | 2 000 000 |  | 8 000 000 | % | 95,337 | 1 906 740,00 | 0,10 |
| 3,00 | % Dometic Group AB (MTN) 2019/2026 ** ......  | EUR | 2 000 000 |  |  | % | 86,239 | 1 724 780,00 | 0,09 |
| 6,00 | % Douglas GmbH -Reg- (MTN) 2021/2026 ** ....  | EUR | 7 000 000 | 1 000 000 | 4 000 000 | % | 78,016 | 5 461 120,00 | 0,27 |
| 5,00 | % doValue SpA -Reg- (MTN) 2020/2025  ........  | EUR | 11 500 000 | 3 000 000 | 3 500 000 | % | 95,444 | 10 976 060,00 | 0,55 |
| 2,625 | % Drax Finco PLC (MTN) 2020/2025 ** .........  | EUR | 3 720 000 |  |  | % | 91,736 | 3 412 579,20 | 0,17 |
| 4,496 | % EDP - Energias de Portugal SA 2019/2079 * ...  | EUR | 10 000 000 | 5 300 000 |  | % | 97,119 | 9 711 900,00 | 0,49 |
| 1,875 | % EDP - Energias de Portugal SA 2021/2081 * ...  | EUR | 8 000 000 | 1 800 000 |  | % | 81,066 | 6 485 280,00 | 0,33 |
| 1,875 | % EDP - Energias de Portugal SA 2021/2082 * ...  | EUR | 14 000 000 |  |  | % | 69,753 | 9 765 420,00 | 0,49 |
| 5,50 | % eDreams ODIGEO SA -Reg- (MTN) 2022/2027 ** | EUR | 7 000 000 | 8 000 000 | 1 000 000 | % | 80,262 | 5 618 340,00 | 0,28 |
| 5,375 | % Electricite de France SA (MTN) 2013/perpetual * | EUR | 7 000 000 |  |  | % | 91,672 | 6 417 040,00 | 0,32 |
| 5,00 | % Electricite de France SA (MTN) 2014/perpetual * | EUR | 9 000 000 | 4 000 000 |  | % | 88,038 | 7 923 420,00 | 0,40 |
| 4,00 | % Electricite de France SA 2018/perpetual * .....  | EUR | 1 500 000 | 1 500 000 |  | % | 91,925 | 1 378 875,00 | 0,07 |
| 3,375 | % Electricite de France SA 2020/perpetual * ** ...  | EUR | 29 000 000 | 5 000 000 |  | % | 65,569 | 19 015 010,00 | 0,96 |
| 2,625 | % Electricite de France SA 2021/perpetual * .....  | EUR | 3 000 000 |  |  | % | 70,789 | 2 123 670,00 | 0,11 |
| 3,75 | % Elior Group SA (MTN) 2021/2026 ** .........  | EUR | 2 000 000 |  | 3 500 000 | % | 78,162 | 1 563 240,00 | 0,08 |
| 4,125 | % Elis SA (MTN) 2022/2027  .................  | EUR | 1 500 000 | 1 900 000 | 400 000 | % | 95,223 | 1 428 345,00 | 0,07 |
| 6,375 | % Ellaktor Value Plc -Reg- (MTN) 2019/2024 ** ...  | EUR | 1 000 000 |  | 9 000 000 | % | 96,324 | 963 240,00 | 0,05 |
| 4,875 | % Encore Capital Group, Inc. -Reg- (MTN) 2020/2025 | EUR | 1 000 000 |  | 1 000 000 | % | 96,801 | 968 010,00 | 0,05 |
| 4,00 | % Energia Group NI FinanceCo PLC Via Energia Group ROI Holdings DAC -Reg- (MTN) 2017/2025 ** . | EUR | 2 800 000 |  |  | % | 90,121 | 2 523 388,00 | 0,13 |
| 3,75 | % Faurecia SE (MTN) 2020/2028 ..............  | EUR | 14 000 000 |  |  | % | 77,624 | 10 867 360,00 | 0,55 |
| 2,75 | % Faurecia SE (MTN) 2021/2027 ** ............  | EUR | 14 000 000 | 4 000 000 | 2 000 000 | % | 78,241 | 10 953 740,00 | 0,55 |
| 5,625 | % FIS Fabbrica Italiana Sintetici SpA -Reg- (MTN) 2022/2027  .............................  | EUR | 13 000 000 | 13 000 000 |  | % | 85,111 | 11 064 430,00 | 0,56 |
| 5,00 | % Flamingo Lux II SCA -Reg- (MTN) 2021/2029  ..  | EUR | 8 000 000 |  |  | % | 74,25 | 5 940 000,00 | 0,30 |
| 3,375 | % Foncia Management SASU -Reg- (MTN) 2021/2028 | EUR | 2 500 000 |  | 2 000 000 | % | 81,569 | 2 039 225,00 | 0,10 |
| 6,875 | % Frigoglass Finance BV -Reg- (MTN) 2020/2025 . | EUR | 18 000 000 |  | 4 000 000 | % | 54,126 | 9 742 680,00 | 0,49 |
| 6,25 | % Gamma Bidco S.P.A. -Reg- (MTN) 2020/2025 ..  | EUR | 4 000 000 |  | 3 000 000 | % | 93,316 | 3 732 640,00 | 0,19 |
| 8,125 | % Gamma Bondco Sarl -Reg- (MTN) 2021/2026 ** | EUR | 11 000 000 | 2 240 000 |  | % | 85,257 | 9 378 270,00 | 0,47 |
| 3,50 | % Getlink SE (MTN) 2020/2025 ...............  | EUR | 10 000 000 |  | 1 730 000 | % | 95,868 | 9 586 800,00 | 0,48 |
| 5,375 | % Goldstory SASU -Reg- (MTN) 2021/2026 ** ...  | EUR | 4 000 000 |  | 1 000 000 | % | 84,81 | 3 392 400,00 | 0,17 |
| 2,75 | % Goodyear Europe BV -Reg- (MTN) 2021/2028 ..  | EUR | 2 000 000 | 2 000 000 |  | % | 75,476 | 1 509 520,00 | 0,08 |
| 2,625 | % Graphic Packaging International LLC -Reg- (MTN) |  |  |  |  |  |  |  |  |
| 2021/2029	EUR | 7 000 000 | 3 220 000 | 1 000 000 | % | 81,733 | 5 721 310,00 | 0,29 |
| 3,20 | % Grifols SA -Reg- (MTN) 2017/2025  ..........  | EUR | 5 500 000 | 6 000 000 | 3 500 000 | % | 91,153 | 5 013 415,00 | 0,25 |
| 1,625 | % Grifols SA -Reg- (MTN) 2019/2025  ..........  | EUR | 2 692 000 | 2 000 000 | 808 000 | % | 92,042 | 2 477 770,64 | 0,12 |
| 4,125 | % Gruenenthal GmbH -Reg- (MTN) 2021/2028 ...  | EUR | 8 000 000 |  | 3 770 000 | % | 85,908 | 6 872 640,00 | 0,35 |
| 3,25 | % Guala Closures SpA -Reg- (MTN) 2021/2028 ** | EUR | 2 000 000 |  | 7 500 000 | % | 80,927 | 1 618 540,00 | 0,08 |
| 3,248 | % Heimstaden Bostad AB 2019/perpetual *  .....  | EUR | 8 000 000 |  | 2 000 000 | % | 60,779 | 4 862 320,00 | 0,24 |
| 2,625 | % Heimstaden Bostad AB 2021/perpetual *  .....  | EUR | 8 000 000 |  | 1 050 000 | % | 51,913 | 4 153 040,00 | 0,21 |
| 7,50 | % House of HR -Reg- (MTN) 2020/2027  ........  | EUR | 7 000 000 |  | 1 000 000 | % | 97,639 | 6 834 730,00 | 0,34 |
| 5,625 | % HSE Finance Sarl (MTN) 2021/2026 ** .......  | EUR | 3 500 000 |  | 5 500 000 | % | 68,969 | 2 413 915,00 | 0,12 |
| 9,25 | % HT Troplast GmbH -Reg- (MTN) 2020/2025  ...  | EUR | 12 000 000 | 1 000 000 |  | % | 89,22 | 10 706 400,00 | 0,54 |
| 4,25 | % Huhtamaki Oyj (MTN) 2022/2027  ...........  | EUR | 3 000 000 | 3 000 000 |  | % | 96,814 | 2 904 420,00 | 0,15 |
| 3,625 | % IHO Verwaltungs GmbH -Reg- (MTN) 2019/2025. | EUR | 4 000 000 |  |  | % | 87,619 | 3 504 760,00 | 0,18 |
| 3,875 | % IHO Verwaltungs GmbH -Reg- (MTN) 2019/2027. | EUR | 1 475 000 |  |  | % | 78,215 | 1 153 671,25 | 0,06 |
| 5,625 | % Iliad Holding SASU -Reg- (MTN) 2021/2028  ...  | EUR | 8 000 000 | 6 000 000 |  | % | 85,608 | 6 848 640,00 | 0,34 |
| 3,75 | % IMA Industria Macchine Automatiche SpA -Reg- (MTN) 2020/2028 ........................  | EUR | 3 000 000 |  | 7 500 000 | % | 80,68 | 2 420 400,00 | 0,12 |
| 2,875 | % INEOS Finance PLC -Reg- (MTN) 2019/2026 ** | EUR | 4 000 000 | 4 000 000 | 2 000 000 | % | 87,552 | 3 502 080,00 | 0,18 |
| 2,50 | % INEOS Quattro Finance 2 Plc -Reg- (MTN) 2021/2026  .............................  | EUR | 2 000 000 | 2 000 000 | 2 000 000 | % | 84,536 | 1 690 720,00 | 0,08 |
| 2,25 | % INEOS Styrolution Group GmbH -Reg- (MTN) 2020/2027 ** ...........................  | EUR | 6 000 000 |  | 1 500 000 | % | 77,781 | 4 666 860,00 | 0,23 |
| 4,875 | % Inter Media and Communication SpA -Reg- (MTN) 2017/2022  .............................  | EUR | 88 750 |  | 7 002 840 | % | 100 | 88 749,98 | 0,00 |
| 3,75 | % International Consolidated Airlines Group SA (MTN) 2021/2029  .............................  | EUR | 12 500 000 |  | 2 500 000 | % | 71,264 | 8 908 000,00 | 0,45 |
| 6,50 | % International Design Group SPA -Reg- (MTN) 2018/2025 ** ...........................  | EUR | 19 000 000 | 1 000 000 |  | % | 90,025 | 17 104 750,00 | 0,86 |
| 3,50 | % International Game Technology PLC -Reg- (MTN) 2019/2026  .............................  | EUR | 15 000 000 | 9 500 000 |  | % | 91,3 | 13 695 000,00 | 0,69 |
| 3,375 | % Intertrust Group BV -Reg- (MTN) 2018/2025 ...  | EUR | 9 000 000 |  | 7 000 000 | % | 95,261 | 8 573 490,00 | 0,43 |
| 5,25 | % Intralot Capital Luxembourg SA -Reg- (MTN) 2017/2024  .............................  | EUR | 6 000 000 |  |  | % | 89,644 | 5 378 640,00 | 0,27 |
| 4,875 | % Intrum AB -Reg- (MTN) 2020/2025  ..........  | EUR | 5 000 000 |  | 1 000 000 | % | 91,027 | 4 551 350,00 | 0,23 |
| 4,25 | % Iqera Group SAS -Reg- (MTN) 2017/2024  .....  | EUR | 3 000 000 |  | 3 617 000 | % | 93,116 | 2 793 480,00 | 0,14 |
| 6,50 | % Iqera Group SAS -Reg- 2020/2024 ...........  | EUR | 5 000 000 |  |  | % | 95,917 | 4 795 850,00 | 0,24 |
| 2,875 | % IQVIA, Inc. -Reg- (MTN) 2020/2028 ..........  | EUR | 5 500 000 |  | 1 500 000 | % | 85,446 | 4 699 530,00 | 0,24 |
| 1,75 | % IQVIA, Inc. -Reg- (MTN) 2021/2026 ** ........  | EUR | 2 000 000 |  | 3 000 000 | % | 88,246 | 1 764 920,00 | 0,09 |
| 2,25 | % IQVIA, Inc. -Reg- (MTN) 2021/2029 ..........  | EUR | 8 000 000 | 3 500 000 |  | % | 79,477 | 6 358 160,00 | 0,32 |
| 4,75 | % Italmatch Chemicals SpA -Reg- (MTN) 2018/2024 * ** ..........................  | EUR | 8 000 000 |  | 7 000 000 | % | 90,96 | 7 276 800,00 | 0,37 |
| 5,875 | % Jaguar Land Rover Automotive PLC -Reg- (MTN) 2019/2024  .............................  | EUR | 2 500 000 | 2 500 000 |  | % | 92,334 | 2 308 350,00 | 0,12 |
| 3,625 | % James Hardie International Finance DAC -Reg- (MTN) 2018/2026 ........................  | EUR | 14 000 000 | 2 000 000 |  | % | 92,93 | 13 010 200,00 | 0,65 |
| 5,50 | % Kaefer SE & Co., KG -Reg- (MTN) 2018/2024  ..  | EUR | 17 680 000 |  |  | % | 98,221 | 17 365 472,80 | 0,87 |

| 5,125 | % Kaixo Bondco Telecom SA (MTN) 2021/2029  ..  | EUR | 5 000 000 | 5 000 000 |  | % | 76,245 | 3 812 250,00 | 0,19 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| 4,25 | % Kleopatra Finco Sarl -Reg- (MTN) 2021/2026  ..  | EUR | 6 000 000 | 2 000 000 | 2 610 000 | % | 82,372 | 4 942 320,00 | 0,25 |
| 6,50 | % Kleopatra Holdings 2 SCA -Reg- (MTN) |  |  |  |  |  |  |  |  |
|  | 2021/2026 ** ...........................  | EUR | 10 500 000 | 1 000 000 | 5 500 000 | % | 65,535 | 6 881 175,00 | 0,35 |
| 6,75 | % KME SE -Reg- (MTN) 2018/2023 ** ..........  | EUR | 7 329 395 |  | 12 670 605 | % | 97,937 | 7 178 189,39 | 0,36 |
| 5,00 | % Kongsberg Actuation Systems BV -Reg- (MTN) |  |  |  |  |  |  |  |  |
|  | 2018/2025 ** ...........................  | EUR | 7 159 909 | 727 272 | 2 567 363 | % | 82,729 | 5 923 321,18 | 0,30 |
| 2,85 | % Koninklijke FrieslandCampina NV 2020/perpetual * | EUR | 1 000 000 |  | 2 000 000 | % | 88,087 | 880 870,00 | 0,04 |
| 2,00 | % Koninklijke KPN NV 2019/perpetual * .........  | EUR | 8 000 000 |  |  | % | 92,171 | 7 373 680,00 | 0,37 |
| 3,75 | % Kronos International, Inc. -Reg- (MTN) 2017/2025 | EUR | 20 000 000 | 2 000 000 | 6 000 000 | % | 89,45 | 17 890 000,00 | 0,90 |
| 5,125 | % La Financiere Atalian SASU -Reg- (MTN) |  |  |  |  |  |  |  |  |
|  | 2018/2025 ** ...........................  | EUR | 13 000 000 | 1 000 000 |  | % | 77,03 | 10 013 900,00 | 0,50 |
| 3,125 | % La Poste SA 2018/perpetual *  ..............  | EUR | 7 000 000 | 2 000 000 |  | % | 89,903 | 6 293 210,00 | 0,32 |
| 4,50 | % Leather 2 SpA -Reg- (MTN) 2021/2028 * ......  | EUR | 1 000 000 | 1 000 000 | 4 160 000 | % | 81,194 | 811 940,00 | 0,04 |
| 5,75 | % Lenzing AG 2020/perpetual * ...............  | EUR | 19 000 000 | 2 000 000 |  | % | 95,624 | 18 168 560,00 | 0,91 |
| 7,25 | % LHMC Finco 2 Sarl -Reg- (MTN) 2019/2025  ...  | EUR | 2 500 000 | 2 500 000 |  | % | 87,447 | 2 186 175,00 | 0,11 |
| 6,50 | % Loarre Investments Sarl -Reg- (MTN) 2022/2029 | EUR | 5 140 000 | 5 140 000 |  | % | 93,627 | 4 812 427,80 | 0,24 |
| 4,00 | % Lorca Telecom Bondco SA -Reg- (MTN) 2020/2027 | EUR | 3 000 000 | 5 000 000 | 2 000 000 | % | 83,854 | 2 515 620,00 | 0,13 |
| 4,50 | % LOXAM SAS (MTN) 2022/2027 ** ...........  | EUR | 5 580 000 | 6 580 000 | 1 000 000 | % | 86,23 | 4 811 634,00 | 0,24 |
| 7,25 | % LSF XI Magpie Bidco Sarl -Reg- (MTN) 2022/2027 | EUR | 9 830 000 | 9 830 000 |  | % | 85,285 | 8 383 515,50 | 0,42 |
| 5,625 | % Lune Holdings Sarl -Reg- (MTN) 2021/2028 ** . | EUR | 15 500 000 | 3 500 000 |  | % | 81,082 | 12 567 710,00 | 0,63 |
| 6,125 | % Marcolin SpA -Reg- (MTN) 2021/2026 ** ......  | EUR | 9 500 000 |  | 3 000 000 | % | 86,988 | 8 263 860,00 | 0,42 |
| 4,00 | % Matterhorn Telecom SA -Reg- (MTN) |  |  |  |  |  |  |  |  |
|  | 2017/2027 ** ............................  | EUR | 3 000 000 |  | 2 000 000 | % | 85,64 | 2 569 200,00 | 0,13 |
| 4,75 | % Mauser Packaging Solutions Holding Co. -Reg- |  |  |  |  |  |  |  |  |
|  | (MTN) 2018/2024 ........................  | EUR | 7 500 000 | 1 500 000 |  | % | 93,552 | 7 016 400,00 | 0,35 |
| 5,875 | % Maxeda DIY Holding BV -Reg- (MTN) |  |  |  |  |  |  |  |  |
|  | 2020/2026 ** ...........................  | EUR | 2 500 000 |  |  | % | 71,084 | 1 777 100,00 | 0,09 |
| 4,25 | % Mobilux Finance SAS -Reg- (MTN) 2021/2028  . | EUR | 5 500 000 |  |  | % | 73,824 | 4 060 320,00 | 0,20 |
| 9,50 | % Monitchem HoldCo 2 SA -Reg- (MTN) 2019/2026 | EUR | 7 000 000 |  | 2 000 000 | % | 95,051 | 6 653 570,00 | 0,33 |
| 5,25 | % Monitchem HoldCo 3 SA -Reg- (MTN) 2019/2025 | EUR | 1 000 000 | 1 000 000 | 5 000 000 | % | 92,088 | 920 880,00 | 0,05 |
| 2,50 | % Mytilineos Financial Partners SA (MTN) |  |  |  |  |  |  |  |  |
|  | 2019/2024 ...............................  | EUR | 4 000 000 |  | 1 000 000 | % | 93,813 | 3 752 520,00 | 0,19 |
| 3,375 | % Naturgy Finance BV 2015/perpetual * ........  | EUR | 5 800 000 |  |  | % | 93,176 | 5 404 208,00 | 0,27 |
| 2,374 | % Naturgy Finance BV 2021/perpetual * ........  | EUR | 5 000 000 | 2 000 000 |  | % | 77,725 | 3 886 250,00 | 0,20 |
| 4,50 | % Neinor Homes SA -Reg- (MTN) 2021/2026  ....  | EUR | 2 000 000 |  | 4 500 000 | % | 81,775 | 1 635 500,00 | 0,08 |
| 2,25 | % Nemak SAB de CV -Reg- (MTN) 2021/2028  ...  | EUR | 10 000 000 |  |  | % | 72,042 | 7 204 200,00 | 0,36 |
| 1,625 | % Nexi SpA (MTN) 2021/2026 ** ..............  | EUR | 8 000 000 | 6 000 000 | 4 000 000 | % | 81,697 | 6 535 760,00 | 0,33 |
| 2,125 | % Nexi SpA (MTN) 2021/2029 ** ..............  | EUR | 7 000 000 | 2 040 000 | 1 000 000 | % | 70,046 | 4 903 220,00 | 0,25 |
| 3,50 | % Nidda Healthcare Holding GmbH -Reg- (MTN) |  |  |  |  |  |  |  |  |
|  | 2017/2024  .............................  | EUR | 4 000 000 | 4 000 000 | 1 000 000 | % | 88,826 | 3 553 040,00 | 0,18 |
| 7,00 | % Nitrogenmuvek Vegyipari Zrt -Reg- (MTN) |  |  |  |  |  |  |  |  |
|  | 2018/2025 ** ...........................  | EUR | 19 000 000 |  | 1 000 000 | % | 87,086 | 16 546 340,00 | 0,83 |
| 3,625 | % Nobian Finance BV -Reg- (MTN) 2021/2026 ** . | EUR | 6 000 000 | 2 000 000 | 2 000 000 | % | 77,754 | 4 665 240,00 | 0,23 |
| 2,50 | % Nomad Foods Bondco Plc -Reg- (MTN) 2021/2028 | EUR | 9 000 000 | 1 000 000 |  | % | 79,009 | 7 110 810,00 | 0,36 |
| 4,50 | % Norican A/S (MTN) 2017/2023 ** ............  | EUR | 13 000 000 | 8 000 000 |  | % | 88,184 | 11 463 920,00 | 0,58 |
| 5,00 | % Novafives SAS -Reg- (MTN) 2018/2025 ** .....  | EUR | 3 945 000 |  | 2 055 000 | % | 65,733 | 2 593 166,85 | 0,13 |
| 3,375 | % Novelis Sheet Ingot GmbH (MTN) 2021/2029 ** | EUR | 5 500 000 |  |  | % | 79,386 | 4 366 230,00 | 0,22 |
| 3,875 | % Olympus Water US Holding Corp. -Reg- (MTN) |  |  |  |  |  |  |  |  |
|  | 2021/2028 ** ...........................  | EUR | 4 500 000 |  | 5 000 000 | % | 81,446 | 3 665 070,00 | 0,18 |
| 3,50 | % Ontex Group NV (MTN) 2021/2026  ..........  | EUR | 3 000 000 | 1 000 000 | 2 000 000 | % | 80,224 | 2 406 720,00 | 0,12 |
| 2,75 | % Orano SA (MTN) 2020/2028  ...............  | EUR | 3 000 000 |  |  | % | 84,86 | 2 545 800,00 | 0,13 |
| 2,875 | % Organon & Co. Via Organon Foreign Debt |  |  |  |  |  |  |  |  |
|  | Co-Issuer BV -Reg- (MTN) 2021/2028 ........  | EUR | 10 000 000 | 1 610 000 |  | % | 84,06 | 8 406 000,00 | 0,42 |
| 3,50 | % Peach Property Finance GmbH -Reg- 2019/2023 | EUR | 13 018 000 | 2 000 000 | 7 282 000 | % | 85,897 | 11 182 071,46 | 0,56 |
| 4,375 | % Peach Property Finance GmbH -Reg- (MTN) |  |  |  |  |  |  |  |  |
|  | 2020/2025  .............................  | EUR | 11 000 000 |  |  | % | 79,107 | 8 701 770,00 | 0,44 |
| 4,75 | % PHM Group Holding Oy -144A- (MTN) 2021/2026 | EUR | 5 000 000 |  | 1 000 000 | % | 90,704 | 4 535 200,00 | 0,23 |
| 3,625 | % Piaggio & C SpA -Reg- (MTN) 2018/2025 ** ...  | EUR | 3 000 000 |  |  | % | 95,515 | 2 865 450,00 | 0,14 |
| 3,75 | % Playtech Plc (MTN) 2018/2023 ** ...........  | EUR | 12 000 000 |  | 2 000 000 | % | 98,362 | 11 803 440,00 | 0,59 |
| 4,625 | % PLT VII Finance Sarl -Reg- (MTN) 2020/2026 ** | EUR | 4 000 000 |  | 1 000 000 | % | 87,956 | 3 518 240,00 | 0,18 |
| 4,625 | % PLT VII Finance Sarl -Reg- (MTN) 2020/2026 * . | EUR | 1 000 000 |  | 6 000 000 | % | 95,052 | 950 520,00 | 0,05 |
| 3,50 | % PPF Telecom Group BV (MTN) 2020/2024  ....  | EUR | 1 500 000 |  | 7 500 000 | % | 98,513 | 1 477 695,00 | 0,07 |
| 6,25 | % PrestigeBidCo GmbH -Reg- (MTN) 2016/2023  . | EUR | 2 000 000 | 2 000 000 |  | % | 97,535 | 1 950 700,00 | 0,10 |
| 3,25 | % Pro-Gest SpA -Reg- (MTN) 2017/2024 ........  | EUR | 19 820 000 | 8 820 000 |  | % | 76,55 | 15 172 210,00 | 0,76 |
| 3,00 | % ProGroup AG -Reg- (MTN) 2018/2026 ** ......  | EUR | 3 000 000 | 3 000 000 |  | % | 88,489 | 2 654 670,00 | 0,13 |
| 3,50 | % Prokon Regenerative Energien eG 2016/2030  . | EUR | 10 044 022 |  | 1 431 969 | % | 98,715 | 9 914 956,61 | 0,50 |
| 5,875 | % Quatrim SASU -Reg- (MTN) 2019/2024 ** .....  | EUR | 6 000 000 | 6 000 000 | 6 000 000 | % | 95,501 | 5 730 060,00 | 0,29 |
| 6,375 | % Raffinerie Heide GmbH -Reg- (MTN) 2017/2022 ** | EUR | 9 034 000 | 2 134 000 | 5 100 000 | % | 93,908 | 8 483 648,72 | 0,43 |
| 4,25 | % Rakuten Group, Inc. -Reg- 2021/perpetual * ...  | EUR | 5 000 000 |  |  | % | 69,897 | 3 494 850,00 | 0,18 |
| 3,25 | % RCS & RDS SA -Reg- (MTN) 2020/2028  ......  | EUR | 4 000 000 |  | 2 000 000 | % | 78,562 | 3 142 480,00 | 0,16 |
| 7,25 | % Rekeep SpA -Reg- (MTN) 2021/2026  ........  | EUR | 5 000 000 | 1 000 000 | 4 000 000 | % | 86,968 | 4 348 400,00 | 0,22 |
| 2,00 | % Renault SA (MTN) 2018/2026  ..............  | EUR | 8 000 000 | 3 000 000 |  | % | 81,017 | 6 481 360,00 | 0,33 |
| 2,50 | % Renault SA (MTN) 2021/2028 ** ............  | EUR | 4 000 000 |  |  | % | 76,757 | 3 070 280,00 | 0,15 |
| 4,50 | % Repsol International Finance BV 2015/2075 * ..  | EUR | 2 000 000 | 2 000 000 |  | % | 95,934 | 1 918 680,00 | 0,10 |
| 4,247 | % Repsol International Finance BV |  |  |  |  |  |  |  |  |
|  | 2020/perpetual * ** .......................  | EUR | 11 500 000 | 11 500 000 |  | % | 86,04 | 9 894 600,00 | 0,50 |
| 2,125 | % Rexel SA (MTN) 2021/2028 ** ..............  | EUR | 4 500 000 |  | 3 190 000 | % | 77,768 | 3 499 560,00 | 0,18 |
| 5,25 | % Rimini Bidco SpA -Reg- (MTN) 2021/2026 * ** . | EUR | 17 922 000 | 2 922 000 |  | % | 85,544 | 15 331 195,68 | 0,77 |
| 6,75 | % Rossini Sarl -Reg- (MTN) 2018/2025  .........  | EUR | 17 000 000 |  | 3 000 000 | % | 96,484 | 16 402 280,00 | 0,82 |
| 5,625 | % Rubis Terminal Infra SAS -Reg- (MTN) 2020/2025 | EUR | 14 000 000 | 4 000 000 |  | % | 97,084 | 13 591 760,00 | 0,68 |
| 3,375 | % Saipem Finance International BV (MTN) |  |  |  |  |  |  |  |  |
|  | 2020/2026 ** ...........................  | EUR | 4 000 000 | 2 500 000 | 3 000 000 | % | 79,387 | 3 175 480,00 | 0,16 |

| Wertpapierbezeichnung | Stück bzw. Anteile bzw. | Nominalbetrag bzw. | Käufe/ Zugänge | Verkäufe/ Abgänge | Währung | Kurs | Kurswert in | %-Anteil am Fonds- |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Währung	Bestand	im Berichtszeitraum	EUR	vermögen |
| 2,624 | % Samhallsbyggnadsbolaget i Norden AB 2020/perpetual * .........................  | EUR | 1 000 000 | % | 33,807 | 338 070,00 | 0,02 |
| 2,875 | % Samhallsbyggnadsbolaget i Norden AB |  |  |  |  |  |  |
|  | 2021/perpetual * ** .......................  | EUR | 7 500 000 |  |  | % | 33,117 | 2 483 775,00 | 0,12 |
| 3,50 | % Samsonite Finco Sarl -Reg- (MTN) 2018/2026 ** | EUR | 3 400 000 |  | 2 600 000 | % | 84,771 | 2 882 214,00 | 0,14 |
| 5,625 | % Sani/Ikos Financial Holdings 1 Sarl -Reg- (MTN) 2021/2026  .............................  | EUR | 2 000 000 | 2 000 000 | 4 000 000 | % | 86,91 | 1 738 200,00 | 0,09 |
| 5,75 | % Sarens Finance Co. NV (MTN) 2020/2027 .....  | EUR | 4 800 000 | 1 800 000 |  | % | 67,457 | 3 237 936,00 | 0,16 |
| 3,375 | % Schaeffler AG (MTN) 2020/2028 ** ..........  | EUR | 3 000 000 |  | 4 000 000 | % | 81,313 | 2 439 390,00 | 0,12 |
| 5,375 | % Schenck Process Holding GmbH/Darmstadt -Reg- (MTN) 2017/2023 ........................  | EUR | 3 000 000 |  | 4 196 000 | % | 96,523 | 2 895 690,00 | 0,15 |
| 6,875 | % Schenck Process Holding GmbH/Darmstadt -Reg- (MTN) 2018/2023 ........................  | EUR | 16 000 000 |  | 4 000 000 | % | 98,079 | 15 692 640,00 | 0,79 |
| 6,375 | % Schoeller Packaging BV -Reg- (MTN) 2019/2024 ** ...........................  | EUR | 25 000 000 | 4 300 000 | 1 000 000 | % | 84,508 | 21 127 000,00 | 1,06 |
| 4,375 | % SCIL IV LLC Via SCIL USA Holdings LLC -Reg- (MTN) 2021/2026 ** ......................  | EUR | 7 000 000 |  |  | % | 81,614 | 5 712 980,00 | 0,29 |
| 2,25 | % Seche Environnement SA (MTN) 2021/2028 ...  | EUR | 4 000 000 | 1 000 000 | 2 000 000 | % | 79,55 | 3 182 000,00 | 0,16 |
| 5,625 | % SES SA 2016/perpetual * ..................  | EUR | 8 000 000 | 2 000 000 |  | % | 97,044 | 7 763 520,00 | 0,39 |
| 4,625 | % SGL Carbon SE (MTN) 2019/2024 ...........  | EUR | 7 000 000 | 7 000 000 |  | % | 95,649 | 6 695 430,00 | 0,34 |
| 4,50 | % Shiba Bidco SpA -Reg- (MTN) 2021/2028 ** ...  | EUR | 12 650 000 |  | 1 000 000 | % | 82,893 | 10 485 964,50 | 0,53 |
| 5,50 | % Signa Development Finance SCS -Reg- (MTN) 2021/2026  .............................  | EUR | 5 000 000 |  | 3 400 000 | % | 73,747 | 3 687 350,00 | 0,19 |
| 2,25 | % Silgan Holdings, Inc. (MTN) 2020/2028 .......  | EUR | 1 250 000 |  |  | % | 78,706 | 983 825,00 | 0,05 |
| 2,125 | % SoftBank Group Corp. 2021/2024  ...........  | EUR | 6 000 000 | 5 000 000 | 4 000 000 | % | 90,12 | 5 407 200,00 | 0,27 |
| 2,875 | % SoftBank Group Corp. (MTN) 2021/2027 ......  | EUR | 9 000 000 | 1 500 000 |  | % | 77,855 | 7 006 950,00 | 0,35 |
| 5,869 | % Solvay Finance SACA 2015/perpetual * .......  | EUR | 8 500 000 | 2 000 000 | 500 000 | % | 98,564 | 8 377 940,00 | 0,42 |
| 2,625 | % SPCM SA -Reg- (MTN) 2020/2029  ..........  | EUR | 6 000 000 |  |  | % | 81,745 | 4 904 700,00 | 0,25 |
| 4,00 | % SSE PLC 2022/perpetual * .................  | EUR | 6 530 000 | 6 530 000 |  | % | 86,594 | 5 654 588,20 | 0,28 |
| 6,25 | % Standard Profil Automotive GmbH -Reg- (MTN) 2021/2026 ** ...........................  | EUR | 4 800 000 |  | 13 200 000 | % | 62,035 | 2 977 680,00 | 0,15 |
| 5,75 | % Summer BC Holdco B SARL -Reg- (MTN) 2019/2026  .............................  | EUR | 8 000 000 | 1 000 000 | 5 000 000 | % | 87,503 | 7 000 240,00 | 0,35 |
| 9,00 | % Summer BidCo BV -Reg- (MTN) 2019/2025  ...  | EUR | 3 298 778 | 152 527 |  | % | 81,679 | 2 694 408,54 | 0,14 |
| 9,00 | % Summer BidCo BV -Reg- (MTN) 2020/2025  ...  | EUR | 7 105 504 | 328 544 |  | % | 81,785 | 5 811 236,44 | 0,29 |
| 6,00 | % Superior Industries International, Inc. -Reg- (MTN) 2017/2025 ** ...........................  | EUR | 5 000 000 |  | 1 000 000 | % | 81,106 | 4 055 300,00 | 0,20 |
| 3,875 | % Synthomer PLC -Reg- (MTN) 2020/2025 ......  | EUR | 11 000 000 | 5 000 000 |  | % | 91,076 | 10 018 360,00 | 0,50 |
| 2,50 | % Synthos SA -Reg- (MTN) 2021/2028  .........  | EUR | 5 100 000 | 2 100 000 |  | % | 81,799 | 4 171 749,00 | 0,21 |
| 2,00 | % Techem Verwaltungsgesellschaft 675 mbH -Reg- (MTN) 2020/2025 ** ......................  | EUR | 12 000 000 | 4 000 000 | 3 000 000 | % | 87,939 | 10 552 680,00 | 0,53 |
| 3,875 | % Tele Columbus AG -Reg- (MTN) 2018/2025  ...  | EUR | 2 000 000 |  | 13 500 000 | % | 84,194 | 1 683 880,00 | 0,08 |
| 7,75 | % Telecom Italia Finance SA (MTN) 2003/2033 ** | EUR | 19 000 000 | 1 000 000 |  | % | 103,995 | 19 759 050,00 | 0,99 |
| 4,00 | % Telecom Italia SpA (MTN) 2019/2024  ........  | EUR | 8 410 000 |  |  | % | 98,71 | 8 301 511,00 | 0,42 |
| 5,875 | % Telefonica Europe BV 2014/perpetual * .......  | EUR | 25 000 000 |  | 11 000 000 | % | 99,137 | 24 784 250,00 | 1,25 |
| 4,375 | % Telefonica Europe BV 2019/perpetual * .......  | EUR | 19 000 000 | 6 000 000 |  | % | 95,559 | 18 156 210,00 | 0,91 |
| 2,88 | % Telefonica Europe BV 2021/perpetual * .......  | EUR | 6 000 000 |  | 1 800 000 | % | 77,133 | 4 627 980,00 | 0,23 |
| 3,50 | % Telenet Finance Luxembourg Notes Sarl -Reg- 2017/2028 ** ...........................  | EUR | 5 000 000 | 1 000 000 | 6 500 000 | % | 85,562 | 4 278 100,00 | 0,21 |
| 2,374 | % TenneT Holding BV 2020/perpetual * .........  | EUR | 7 500 000 |  |  | % | 92,626 | 6 946 950,00 | 0,35 |
| 1,375 | % Teollisuuden Voima Oyj (MTN) 2021/2028  ....  | EUR | 8 380 000 |  | 1 000 000 | % | 83,695 | 7 013 641,00 | 0,35 |
| 4,50 | % Teva Pharmaceutical Finance Netherlands II BV (MTN) 2018/2025 ........................  | EUR | 2 500 000 |  |  | % | 93,753 | 2 343 825,00 | 0,12 |
| 3,75 | % Teva Pharmaceutical Finance Netherlands II BV (MTN) 2021/2027 ........................  | EUR | 15 000 000 | 6 550 000 |  | % | 84,916 | 12 737 400,00 | 0,64 |
| 4,375 | % Teva Pharmaceutical Finance Netherlands II BV (MTN) 2021/2030 ** ......................  | EUR | 15 000 000 | 8 000 000 |  | % | 79,923 | 11 988 450,00 | 0,60 |
| 1,875 | % thyssenkrupp AG (MTN) 2019/2023  .........  | EUR | 3 000 000 | 6 000 000 | 21 000 000 | % | 97,703 | 2 931 090,00 | 0,15 |
| 3,75 | % TI Automotive Finance PLC -Reg- (MTN) 2021/2029 ...............................  | EUR | 1 000 000 | 1 000 000 |  | % | 70,11 | 701 100,00 | 0,03 |
| 3,875 | % Trafigura Funding SA (MTN) 2021/2026 ** ....  | EUR | 6 000 000 |  | 1 000 000 | % | 86,342 | 5 180 520,00 | 0,26 |
| 7,50 | % Trafigura Group Pte Ltd 2019/perpetual * .....  | EUR | 2 500 000 |  |  | % | 95,666 | 2 391 650,00 | 0,12 |
| 6,50 | % TUI Cruises GmbH (MTN) 2021/2026  ........  | EUR | 9 000 000 | 1 000 000 | 2 870 000 | % | 71,106 | 6 399 540,00 | 0,32 |
| 2,50 | % UGI International LLC -Reg- (MTN) 2021/2029  . | EUR | 16 421 000 | 7 421 000 |  | % | 74,816 | 12 285 535,36 | 0,62 |
| 4,00 | % United Group BV -Reg- (MTN) 2020/2027 .....  | EUR | 11 000 000 |  |  | % | 76,276 | 8 390 360,00 | 0,42 |
| 4,625 | % United Group BV -Reg- (MTN) 2021/2028 .....  | EUR | 5 000 000 |  |  | % | 76,947 | 3 847 350,00 | 0,19 |
| 5,25 | % United Group BV -Reg- (MTN) 2022/2030 ** ...  | EUR | 6 000 000 | 6 000 000 |  | % | 74,285 | 4 457 100,00 | 0,22 |
| 3,625 | % UPCB Finance VII Ltd -Reg- 2017/2029 ** .....  | EUR | 5 000 000 | 2 000 000 | 6 000 000 | % | 82,89 | 4 144 500,00 | 0,21 |
| 2,50 | % Veolia Environnement SA 2020/perpetual * ....  | EUR | 3 000 000 | 3 000 000 |  | % | 76,002 | 2 280 060,00 | 0,11 |
| 3,25 | % Verisure Holding AB -Reg- (MTN) 2021/2027 ** | EUR | 2 500 000 |  |  | % | 82,906 | 2 072 650,00 | 0,10 |
| 5,25 | % Verisure Midholding AB -Reg- (MTN) 2021/2029 | EUR | 6 000 000 | 2 000 000 |  | % | 76,543 | 4 592 580,00 | 0,23 |
| 5,25 | % Via Celere Desarrollos Inmobiliarios SA -Reg- (MTN) 2021/2026 ** ......................  | EUR | 3 000 000 |  | 1 500 000 | % | 86,392 | 2 591 760,00 | 0,13 |
| 3,625 | % Victoria PLC (MTN) 2021/2026 ** ...........  | EUR | 6 000 000 |  |  | % | 78,086 | 4 685 160,00 | 0,24 |
| 3,75 | % Victoria PLC (MTN) 2021/2028  .............  | EUR | 7 470 000 | 1 340 000 |  | % | 69,122 | 5 163 413,40 | 0,26 |
| 3,00 | % Vivion Investments Sarl (MTN) 2019/2024 ** ..  | EUR | 4 000 000 |  | 6 000 000 | % | 86,667 | 3 466 680,00 | 0,17 |
| 3,25 | % Vmed O2 UK Financing I PLC -Reg- 2020/2031 **  EUR | 7 000 000 | 2 000 000 | 8 000 000 | % | 77,4 | 5 418 000,00 | 0,27 |
| 4,20 | % Vodafone Group PLC 2018/2078 * ...........  | EUR | 3 000 000 | 2 000 000 |  | % | 88,415 | 2 652 450,00 | 0,13 |
| 3,10 | % Vodafone Group PLC 2018/2079 * ...........  | EUR | 3 000 000 |  |  | % | 95,738 | 2 872 140,00 | 0,14 |
| 3,00 | % Vodafone Group PLC 2020/2080 * ...........  | EUR | 7 000 000 | 2 000 000 | 2 000 000 | % | 76,069 | 5 324 830,00 | 0,27 |
| 3,50 | % VZ Secured Financing BV -Reg- (MTN) 2022/2032 | EUR | 7 000 000 | 7 000 000 |  | % | 75,693 | 5 298 510,00 | 0,27 |
| 2,875 | % VZ Vendor Financing II BV -Reg- (MTN) 2020/2029 | EUR | 13 000 000 | 1 000 000 |  | % | 74,569 | 9 693 970,00 | 0,49 |
| 5,875 | % Webuild SpA (MTN) 2020/2025 ** ...........  | EUR | 10 200 000 | 3 520 000 | 5 800 000 | % | 91,623 | 9 345 546,00 | 0,47 |

| Wertpapierbezeichnung | Stück bzw. Anteile bzw. Währung | Nominalbetrag  Käufe/	Verkäufe/ bzw.	Zugänge	Abgänge Bestand	im Berichtszeitraum | Währung | Kurs | Kurswert in EUR | %-Anteil am Fonds- vermögen |
| --- | --- | --- | --- | --- | --- | --- |
| 3,875 | % Webuild SpA 2022/2026 ** ................  | EUR | 13 000 000 | 14 000 000 | 1 000 000 | % | 82,951 | 10 783 630,00 | 0,54 |
| 3,00 | % Wintershall Dea Finance 2 BV 2021/perpetual * | EUR | 22 600 000 | 4 000 000 | 2 400 000 | % | 65,81 | 14 873 060,00 | 0,75 |
| 5,50 | % Wp/ap Telecom Holdings III BV -Reg- (MTN) |  |  |  |  |  |  |  |  |
|  | 2021/2030  .............................  | EUR | 6 000 000 | 1 230 000 |  | % | 75,908 | 4 554 480,00 | 0,23 |
| 3,00 | % ZF Europe Finance BV (MTN) 2019/2029  .....  | EUR | 8 000 000 |  |  | % | 73,288 | 5 863 040,00 | 0,29 |
| 3,00 | % ZF Finance GmbH (MTN) 2020/2025 .........  | EUR | 14 000 000 |  | 2 000 000 | % | 88,046 | 12 326 440,00 | 0,62 |
| 3,75 | % ZF Finance GmbH (MTN) 2020/2028 .........  | EUR | 9 000 000 |  |  | % | 78,894 | 7 100 460,00 | 0,36 |
| 2,00 | % ZF Finance GmbH (MTN) 2021/2027 .........  | EUR | 7 000 000 | 7 000 000 |  | % | 77,397 | 5 417 790,00 | 0,27 |
| 2,25 | % ZF Finance GmbH (MTN) 2021/2028 .........  | EUR | 2 000 000 | 2 000 000 | 4 100 000 | % | 73,796 | 1 475 920,00 | 0,07 |
| 3,375 | % Ziggo Bond Co., BV -Reg- (MTN) 2020/2030 ...  | EUR | 7 000 000 | 2 000 000 |  | % | 70,669 | 4 946 830,00 | 0,25 |
| 2,875 | % Ziggo BV -Reg- 2019/2030 ** ...............  | EUR | 7 000 000 | 4 750 000 |  | % | 76,517 | 5 356 190,00 | 0,27 |
| 6,50 | % AA Bond Co., Ltd -Reg- (MTN) 2021/2026  ....  | GBP | 3 920 000 |  |  | % | 91,718 | 4 198 052,55 | 0,21 |
| 6,75 | % Arqiva Broadcast Finance PLC (MTN) 2018/2023 . | GBP | 14 000 000 | 1 000 000 |  | % | 95,671 | 15 639 237,56 | 0,79 |
| 3,625 | % B&M European Value Retail SA (MTN) 2020/2025 . | GBP | 3 300 000 | 1 300 000 | 1 000 000 | % | 84,98 | 3 274 446,46 | 0,16 |
| 4,00 | % B&M European Value Retail SA (MTN) |  |  |  |  |  |  |  |  |
|  | 2021/2028 ** ............................  | GBP | 2 700 000 |  | 2 300 000 | % | 78,796 | 2 484 134,83 | 0,12 |
| 6,00 | % Electricite de France SA (MTN) 2013/perpetual * | GBP | 10 000 000 | 2 000 000 |  | % | 88,503 | 10 333 922,97 | 0,52 |
| 7,875 | % Inspired Entertainment Financing PLC -Reg- (MTN) |  |  |  |  |  |  |  |  |
|  | 2021/2026  .............................  | GBP | 5 560 000 |  |  | % | 97,496 | 6 329 491,45 | 0,32 |
| 3,875 | % Ocado Group Plc -Reg- (MTN) 2021/2026 ** ...  | GBP | 8 000 000 | 3 000 000 | 3 000 000 | % | 80,834 | 7 550 770,75 | 0,38 |
| 3,625 | % Pinewood Finance Co., Ltd -Reg- (MTN) |  |  |  |  |  |  |  |  |
|  | 2021/2027 ** ............................  | GBP | 5 270 000 |  |  | % | 82,125 | 5 053 511,12 | 0,25 |
| 3,50 | % Premier Foods Finance PLC (MTN) 2021/2026 ** | GBP | 4 000 000 |  |  | % | 87,479 | 4 085 742,84 | 0,21 |
| 6,125 | % Punch Finance PLC -Reg- (MTN) 2021/2026 ...  | GBP | 2 500 000 |  | 1 000 000 | % | 84,034 | 2 453 026,68 | 0,12 |
| 6,875 | % TDC Holding A/S (MTN) 2011/2023 ..........  | GBP | 6 200 000 |  |  | % | 99,305 | 7 189 025,64 | 0,36 |
| 5,875 | % Telecom Italia SpA (MTN) 2006/2023  ........  | GBP | 5 000 000 |  | 2 000 000 | % | 101,009 | 5 897 083,86 | 0,30 |
| 3,75 | % Travis Perkins PLC (MTN) 2020/2026  ........  | GBP | 1 500 000 |  |  | % | 87,194 | 1 527 161,93 | 0,08 |
| 6,50 | % Very Group Funding Plc -Reg- (MTN) 2021/2026 ** | GBP | 6 000 000 |  | 4 950 000 | % | 76,65 | 5 369 954,89 | 0,27 |
| 5,00 | % Virgin Media Secured Finance PLC -Reg- (MTN) |  |  |  |  |  |  |  |  |
|  | 2017/2027  .............................  | GBP | 1 722 000 |  |  | % | 90,935 | 1 828 400,98 | 0,09 |
| 4,25 | % Virgin Media Secured Finance PLC -Reg- |  |  |  |  |  |  |  |  |
|  | 2019/2030 ...............................  | GBP | 8 125 000 |  |  | % | 80,886 | 7 673 684,80 | 0,39 |
| 4,50 | % Vmed O2 UK Financing I PLC -Reg- (MTN) |  |  |  |  |  |  |  |  |
|  | 2021/2031  .............................  | GBP | 4 940 000 |  |  | % | 79,367 | 4 577 982,64 | 0,23 |
| 5,25 | % Electricite de France SA -Reg- 2013/perpetual * ** | USD | 4 000 000 |  |  | % | 94,262 | 3 620 068,01 | 0,18 |
| 0,00 | % Nyrstar Holdings, Inc. (MTN) 2019/2026 ......  | USD | 4 324 300 | 18 | 1 127 017 | % | 85,334 | 3 542 892,78 | 0,18 |
| 6,25 | % Vodafone Group PLC 2018/2078 * ...........  | USD | 8 000 000 |  |  | % | 96,052 | 7 377 623,49 | 0,37 |
| 5,125 | % Vodafone Group PLC 2021/2081 * ** .........  | USD | 5 000 000 |  | 4 380 000 | % | 67,917 | 3 260 382,75 | 0,16 |

| 9,375  % DKT Finance ApS -144A- (MTN) 2018/2023  ...  7,75	% Jaguar Land Rover Automotive PLC -144A- (MTN) 2020/2025  .............................  | USD USD | 2 000 000 2 150 000 |  | % % | 96,6 94,987 | 1 854 928,66 1 960 752,24 | 0,09 0,10 |
| --- | --- | --- | --- | --- | --- | --- | --- |
| 7,125 % Kraft Heinz Foods Co. -144A- 2009/2039 ..... 5,50	% Telenet Finance Luxembourg Notes Sarl -144A- 2017/2028  .............................  | USD USD | 2 326 000 3 000 000 |  | % % | 112,346 87,732 | 2 508 923,46 2 526 965,85 | 0,12 0,13 |
| Nichtnotierte Wertpapiere |  |  |  |  |  | 2 895 076,14 | 0,15 |
| Verzinsliche Wertpapiere 8,00	% Altice France Holding SA -144A- (MTN) 2020/2027 | EUR | 3 500 000 |  | % | 82,716 | 2 895 060,00 | 0,15 |
| 12,00  % Cammell Laird Holdings PLC -Reg- (MTN) 2000/2010 * ............................  | EUR | 13 250 000 |  | % | 0 | 13,25 | 0,00 |
| 0,00	% Galapagos SA -Reg- (MTN) 2014/2021 * ......  | EUR | 188 500 | 1 500 | % | 0 | 0,19 | 0,00 |
| 5,375  % Galapagos SA -Reg- (MTN) 2014/2021 * ......  | EUR | 302 600 |  | % | 0 | 0,30 | 0,00 |
| 10,00  % Medya Holding International Ltd 1996/2049 ***** | USD | 2 500 000 |  | % | 0 | 2,40 | 0,00 |
| Summe Wertpapiervermögen |  |  |  | 1 839 320 634,87 | 92,42 |
| Derivate (Bei den mit Minus gekennzeichneten Beständen handelt es sich um verkaufte | Positionen) |  |  |  |  |
| Zins-Derivate Forderungen/Verbindlichkeiten |  |  |  | -399 846,00 | -0,02 |
| Zinsterminkontrakte Germany Federal Republic Notes 10 year 09/2022 (DB)	Stück | -400 | 300 | 700 | -399 846,00 | -0,02 |
| Devisen-Derivate Forderungen/Verbindlichkeiten |  |  |  | 3 934 270,68 | 0,20 |
| Devisentermingeschäfte |  |  |  |  |  |
| Devisentermingeschäfte (Kauf) |  |  |  |  |  |
| Offene Positionen CHF/EUR 266,8 Mio. ...............................  |  |  |  | 4 626 214,99 | 0,23 |
| SEK/EUR 0,5 Mio. .................................  |  |  |  | -184,51 | 0,00 |
| USD/EUR 6,2 Mio. .................................  |  |  |  | 93 754,31 | 0,01 |

An organisierten Märkten zugelassene oder in diese einbezogene Wertpapiere	8 851 570,21	0,44 Verzinsliche Wertpapiere
| Wertpapierbezeichnung | Stück bzw. Anteile bzw. | Nominalbetrag bzw. | Käufe/ Zugänge | Verkäufe/ Abgänge | Währung | Kurs | Kurswert in | %-Anteil am Fonds- |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
|  | Währung | Bestand | im Berichtszeitraum | EUR | vermögen |
| Geschlossene Positionen CHF/EUR 21,2 Mio. ................................  |  |  |  | 46 849,22 | 0,00 |
| USD/EUR 31,1 Mio. ................................  |  |  |  | -25 755,55 | 0,00 |
| Devisentermingeschäfte (Verkauf) |  |  |  |  |  |
| Offene Positionen EUR/GBP 86,7 Mio. ................................  |  |  |  | -800 743,84 | -0,04 |
| Geschlossene Positionen EUR/GBP 4,0 Mio. .................................  |  |  |  | -5 863,94 | 0,00 |
| Bankguthaben |  |  |  | 100 074 269,76 | 5,03 |
| Verwahrstelle (täglich fällig) EUR-Guthaben ....................................  | EUR |  |  | 98 172 897,30 | 4,93 |
| Guthaben in sonstigen EU/EWR-Währungen |  |  |  |  |  |
| Schwedische Kronen ...............................  | SEK | 476 398 |  | 44 479,70 | 0,00 |
| Guthaben in Nicht-EU/EWR-Währungen |  |  |  |  |  |
| Britisches Pfund ...................................  | GBP | 259 265 |  | 302 727,06 | 0,02 |
| Schweizer Franken .................................  | CHF | 147 048 |  | 147 718,24 | 0,01 |
| US-Dollar ........................................  | USD | 1 464 885 |  | 1 406 447,46 | 0,07 |
| Sonstige Vermögensgegenstände |  |  |  | 68 394 712,46 | 3,44 |
| Abgegrenzte Platzierungsgebühr *** ..................  |  |  |  | 231 312,97 | 0,01 |
| Zinsansprüche .....................................  |  |  |  | 30 191 573,58 | 1,52 |
| Sonstige Ansprüche ................................  |  |  |  | 37 971 825,91 | 1,91 |
| Forderungen aus Anteilscheingeschäften |  |  |  | 1 974 450,87 | 0,10 |
| Summe der Vermögensgegenstände **** |  |  |  | 2 014 530 886,48 | 101,23 |
| Sonstige Verbindlichkeiten |  |  |  | -3 801 449,38 | -0,20 |
| Verbindlichkeiten aus Kostenpositionen ................  |  |  |  | -2 700 098,66 | -0,14 |
| Andere sonstige Verbindlichkeiten .....................  |  |  |  | -1 101 350,72 | -0,06 |
| Verbindlichkeiten aus Anteilscheingeschäften |  |  |  | -1 692 803,32 | -0,05 |
| Summe der Verbindlichkeiten |  |  |  | -24 418 339,56 | -1,23 |
| Fondsvermögen |  |  |  | 1 990 112 546,92 | 100,00 |

Durch Rundung der Prozentanteile bei der Berechnung können geringfügige Rundungsdifferenzen entstanden sein.
Eine Aufstellung über die während des Berichtszeitraums abgeschlossenen Geschäfte, soweit sie nicht mehr in der Vermögensaufstellung erscheinen, ist auf Anforderung kostenlos bei der Verwaltungsgesellschaft erhältlich.
| Anteilwert bzw. umlaufende Anteile | Stück bzw. Währung | Anteilwert in der jeweiligen Währung |
| --- | --- | --- |
| Anteilwert |  |  |
| Klasse CHF FCH ...................................  | CHF | 105,44 |
| Klasse CHF ICH50 .................................  | CHF | 93,43 |
| Klasse CHF TFCH ..................................  | CHF | 85,03 |
| Klasse FC ........................................  | EUR | 148,54 |
| Klasse FD ........................................  | EUR | 89,06 |
| Klasse IC .........................................  | EUR | 99,99 |
| Klasse IC50 .......................................  | EUR | 105,04 |
| Klasse ID ........................................  | EUR | 85,78 |
| Klasse ID50 ......................................  | EUR | 86,05 |
| Klasse LC ........................................  | EUR | 142,04 |
| Klasse LD ........................................  | EUR | 96,17 |
| Klasse NC ........................................  | EUR | 126,62 |
| Klasse ND ........................................  | EUR | 86,90 |
| Klasse NDQ ......................................  | EUR | 81,85 |
| Klasse PFC .......................................  | EUR | 108,91 |
| Klasse PFD .......................................  | EUR | 83,39 |
| Klasse PFDQ .....................................  | EUR | 85,70 |
| Klasse RDQ ......................................  | EUR | 83,68 |
| Klasse TFC .......................................  | EUR | 95,19 |
| Klasse TFD .......................................  | EUR | 81,36 |
| Klasse SEK LCH ...................................  | SEK | 1 088,21 |
| Klasse USD FCH ..................................  | USD | 134,13 |
| Klasse USD LCH ..................................  | USD | 129,17 |
| Klasse USD LDMH .................................  | USD | 91,67 |
| Klasse USD TFCH .................................  | USD | 103,76 |

| Anteilwert bzw. umlaufende Anteile | Stück bzw. Währung | Anteilwert in der jeweiligen Währung |
| --- | --- | --- |
| Umlaufende Anteile |  |  |
| Klasse CHF FCH ...................................  | Stück | 2 597 530,192 |
| Klasse CHF ICH50 .................................  | Stück | 108,000 |
| Klasse CHF TFCH ..................................  | Stück | 109,000 |
| Klasse FC ........................................  | Stück | 1 026 717,814 |
| Klasse FD ........................................  | Stück | 239 885,506 |
| Klasse IC .........................................  | Stück | 2 410 094,000 |
| Klasse IC50 .......................................  | Stück | 3 173 958,000 |
| Klasse ID ........................................  | Stück | 99 151,000 |
| Klasse ID50 ......................................  | Stück | 4 725 803,000 |
| Klasse LC ........................................  | Stück | 758 344,430 |
| Klasse LD ........................................  | Stück | 2 964 318,735 |
| Klasse NC ........................................  | Stück | 276 533,350 |
| Klasse ND ........................................  | Stück | 86 569,191 |
| Klasse NDQ ......................................  | Stück | 140 551,000 |
| Klasse PFC .......................................  | Stück | 56 444,000 |
| Klasse PFD .......................................  | Stück | 180 862,000 |
| Klasse PFDQ .....................................  | Stück | 48 830,000 |
| Klasse RDQ ......................................  | Stück | 84 631,000 |
| Klasse TFC .......................................  | Stück | 282 980,715 |
| Klasse TFD .......................................  | Stück | 133 265,000 |
| Klasse SEK LCH ...................................  | Stück | 477,000 |
| Klasse USD FCH ..................................  | Stück | 226 944,170 |
| Klasse USD LCH ..................................  | Stück | 15 723,803 |
| Klasse USD LDMH .................................  | Stück | 36 560,236 |
| Klasse USD TFCH .................................  | Stück | 97,000 |

Zusammensetzung des Referenzportfolios (gem. CSSF-Rundschreiben 11/512) Bank of America Merrill Lynch Euro BB-B Non-Financial Fixed & FRN HY Constrained
Potenzieller Risikobetrag für das Marktrisiko (gem. CSSF-Rundschreiben 11/512)
| kleinster potenzieller Risikobetrag .....................  | % | 103,491 |
| --- | --- | --- |
| größter potenzieller Risikobetrag ......................  | % | 119,118 |
| durchschnittlicher potenzieller Risikobetrag ..............  | % | 111,253 |

Die Risikokennzahlen wurden für den Zeitraum vom 1.1.2022 bis 30.6.2022 auf Basis der Methode der historischen Simulation mit den Parametern 99% Konfidenzniveau, 10 Tage Haltedauer unter Verwendung eines effektiven, historischen Beobachtungszeitraumes von einem Jahr berechnet. Als Bewertungsmaßstab wird das Risiko eines derivatefreien Vergleichsvermögens herangezogen. Unter dem Marktrisiko versteht man das Risiko, das sich aus der ungünstigsten Entwicklung von Marktpreisen für das Fondsvermögen ergibt. Bei der Ermittlung des Marktrisikopotenzials wendet die Gesellschaft den relativen Value at Risk-Ansatzim Sinne des CSSF-Rundschreibens 11/512 an.
Die durchschnittliche Hebelwirkung aus der Nutzung von Derivaten betrug im Berichtszeitraum 0,1, wobei zur Berechnung die Summe der Nominalbeträge der Derivate in Relation zum Fondsvermögen gesetzt wurde (Nominalwertmethode).
Das durch Derivate erzielte zugrunde liegende Exposure gem. Punkt 40 a) der „Leitlinien zu börsengehandelten Indexfonds und anderen OGAW-Themen“ der European Securities and Markets Authority (ESMA) belief sich zum Berichtsstichtag unter Zugrundelegung einer Bruttobetrachtung auf EUR 190 790 718,89. Ohne Berücksichtigung gegebenenfalls auf Ebene von Anteilklassen zum Zwecke der Währungsabsicherung abgeschlossener Devisentermingeschäfte.
 Marktschlüssel	 Terminbörsen
DB = Deutsche Bank AG Frankfurt
Vertragspartner der Devisentermingeschäfte
BNP Paribas S.A., Deutsche Bank AG, HSBC France, Royal Bank of Canada (UK), Société Générale, State Street Bank International GmbH und UBS AG.

####  Erläuterungen zu den Wertpapier-Darlehen	
Folgende Wertpapiere sind zum Berichtsstichtag als Wertpapier-Darlehen übertragen:
| Wertpapierbezeichnung | Währung bzw. Nominal in Stück | Nominalbetrag bzw. Bestand | Wertpapier-Darlehen Kurswert in EUR unbefristet | gesamt |
| --- | --- | --- | --- | --- |
| 4,125 | % Adler Pelzer Holding GmbH -Reg- (MTN) 2017/2024 | EUR | 9 000 000 | 7 011 000,00 |
| 6,00 | % ams-OSRAM AG -Reg- (MTN) 2020/2025  .....  | EUR | 11 800 000 | 11 006 804,00 |
| 4,625 | % APCOA Parking Holdings GmbH -Reg- (MTN) |  |  |  |
|  | 2021/2027 ..............................  | EUR | 6 300 000 | 5 149 872,00 |
| 3,75 | % Axalta Coating Systems Dutch Holding B BV -Reg- |  |  |  |
|  | (MTN) 2016/2025 ........................  | EUR | 1 900 000 | 1 723 338,00 |
| 4,498 | % Casino Guichard Perrachon SA (MTN) 2014/2024 | EUR | 1 000 000 | 810 060,00 |
| 7,50 | % CMA CGM SA -Reg- (MTN) 2020/2026 .......  | EUR | 7 200 000 | 7 390 152,00 |
| 2,75 | % ContourGlobal Power Holdings SA -Reg- (MTN) |  |  |  |
|  | 2020/2026 ..............................  | EUR | 821 000 | 676 545,05 |
| 3,875 | % Coty, Inc. -Reg- (MTN) 2021/2026 ...........  | EUR | 1 029 000 | 913 175,76 |
| 5,25 | % Ctec II GmbH -Reg- (MTN) 2022/2030 ........  | EUR | 1 100 000 | 799 887,00 |
| 4,75 | % Cullinan Holdco Scsp -Reg- (MTN) 2021/2026 * . | EUR | 1 500 000 | 1 237 755,00 |
| 3,00 | % Dometic Group AB (MTN) 2019/2026  ........  | EUR | 1 700 000 | 1 466 063,00 |
| 6,00 | % Douglas GmbH -Reg- (MTN) 2021/2026 .......  | EUR | 100 000 | 78 016,00 |

| Wertpapierbezeichnung | Währung bzw. Nominal in Stück | Nominalbetrag bzw. Bestand | Wertpapier-Darlehen Kurswert in EUR unbefristet | gesamt |
| --- | --- | --- | --- | --- |
| 2,625 | % Drax Finco PLC (MTN) 2020/2025 ...........  | EUR | 190 000 | 174 298,40 |
| 5,50 | % eDreams ODIGEO SA -Reg- (MTN) 2022/2027 . | EUR | 1 000 000 | 802 620,00 |
| 3,375 | % Electricite de France SA 2020/perpetual * .....  | EUR | 200 000 | 131 138,00 |
| 3,75 | % Elior Group SA (MTN) 2021/2026 ............  | EUR | 1 900 000 | 1 485 078,00 |
| 6,375 | % Ellaktor Value Plc -Reg- (MTN) 2019/2024 .....  | EUR | 4 000 000 | 3 852 960,00 |
| 4,00 | % Energia Group NI FinanceCo PLC Via Energia Group |  |  |  |
| ROI Holdings DAC -Reg- (MTN) 2017/2025	EUR | 2 500 000 | 2 253 025,00 |
| 2,75 | % Faurecia SE (MTN) 2021/2027 ..............  | EUR | 2 000 000 | 1 564 820,00 |
| 8,125 | % Gamma Bondco Sarl -Reg- (MTN) 2021/2026  ..  | EUR | 3 240 000 | 2 762 326,80 |
| 5,375 | % Goldstory SASU -Reg- (MTN) 2021/2026 ......  | EUR | 2 402 000 | 2 037 136,20 |
| 3,25 | % Guala Closures SpA -Reg- (MTN) 2021/2028 ...  | EUR | 2 200 000 | 1 780 394,00 |
| 5,625 | % HSE Finance Sarl (MTN) 2021/2026 ..........  | EUR | 100 000 | 68 969,00 |
| 2,875 | % INEOS Finance PLC -Reg- (MTN) 2019/2026 ...  | EUR | 800 000 | 700 416,00 |
| 2,25 | % INEOS Styrolution Group GmbH -Reg- (MTN) 2020/2027 ..............................  | EUR | 4 200 000 | 3 266 802,00 |
| 6,50 | % International Design Group SPA -Reg- (MTN) 2018/2025 ..............................  | EUR | 1 706 000 | 1 535 826,50 |
| 1,75 | % IQVIA, Inc. -Reg- (MTN) 2021/2026 ..........  | EUR | 500 000 | 441 230,00 |
| 4,75 | % Italmatch Chemicals SpA -Reg- (MTN) 2018/2024 * | EUR | 2 500 000 | 2 274 000,00 |
| 6,50 | % Kleopatra Holdings 2 SCA -Reg- (MTN) 2021/2026 | EUR | 7 200 000 | 4 718 520,00 |
| 6,75 | % KME SE -Reg- (MTN) 2018/2023 ............  | EUR | 20 000 000 | 19 587 400,00 |
| 5,00 | % Kongsberg Actuation Systems BV -Reg- (MTN) |  |  |  |
| 2018/2025	EUR | 4 140 000 | 3 424 980,60 |
| 5,125 | % La Financiere Atalian SASU -Reg- (MTN) 2018/2025 | EUR | 2 200 000 | 1 694 660,00 |
| 4,50 | % LOXAM SAS (MTN) 2022/2027  .............  | EUR | 4 500 000 | 3 880 350,00 |
| 5,625 | % Lune Holdings Sarl -Reg- (MTN) 2021/2028 ....  | EUR | 14 990 000 | 12 154 191,80 |
| 6,125 | % Marcolin SpA -Reg- (MTN) 2021/2026 ........  | EUR | 4 800 000 | 4 175 424,00 |
| 4,00 | % Matterhorn Telecom SA -Reg- (MTN) 2017/2027 | EUR | 3 000 000 | 2 569 200,00 |
| 5,875 | % Maxeda DIY Holding BV -Reg- (MTN) 2020/2026 | EUR | 1 300 000 | 924 092,00 |
| 1,625 | % Nexi SpA (MTN) 2021/2026 ................  | EUR | 3 000 000 | 2 450 910,00 |
| 2,125 | % Nexi SpA (MTN) 2021/2029 ................  | EUR | 6 000 000 | 4 202 760,00 |
| 7,00 | % Nitrogenmuvek Vegyipari Zrt -Reg- (MTN) 2018/2025 ..............................  | EUR | 1 300 000 | 1 132 118,00 |
| 3,625 | % Nobian Finance BV -Reg- (MTN) 2021/2026 ....  | EUR | 6 500 000 | 5 054 010,00 |
| 4,50 | % Norican A/S (MTN) 2017/2023 ..............  | EUR | 11 411 000 | 10 062 676,24 |
| 5,00 | % Novafives SAS -Reg- (MTN) 2018/2025 .......  | EUR | 4 500 000 | 2 957 985,00 |
| 3,375 | % Novelis Sheet Ingot GmbH (MTN) 2021/2029 ..  | EUR | 100 000 | 79 386,00 |
| 3,875 | % Olympus Water US Holding Corp. -Reg- (MTN) |  |  |  |
| 2021/2028	EUR | 1 800 000 | 1 466 028,00 |
| 3,625 | % Piaggio & C SpA -Reg- (MTN) 2018/2025 ......  | EUR | 1 458 000 | 1 392 608,70 |
| 3,75 | % Playtech Plc (MTN) 2018/2023 ..............  | EUR | 500 000 | 491 810,00 |
| 4,625 | % PLT VII Finance Sarl -Reg- (MTN) 2020/2026 ...  | EUR | 4 000 000 | 3 518 240,00 |
| 3,00 | % ProGroup AG -Reg- (MTN) 2018/2026 ........  | EUR | 2 950 000 | 2 610 425,50 |
| 5,875 | % Quatrim SASU -Reg- (MTN) 2019/2024 .......  | EUR | 7 530 000 | 7 191 225,30 |
| 6,375 | % Raffinerie Heide GmbH -Reg- (MTN) 2017/2022 | EUR | 5 900 000 | 5 540 572,00 |
| 2,50 | % Renault SA (MTN) 2021/2028 ...............  | EUR | 1 600 000 | 1 228 112,00 |
| 4,247 | % Repsol International Finance BV 2020/perpetual * | EUR | 3 619 000 | 3 113 787,60 |
| 2,125 | % Rexel SA (MTN) 2021/2028 ................  | EUR | 785 000 | 610 478,80 |
| 5,25 | % Rimini Bidco SpA -Reg- (MTN) 2021/2026 * ....  | EUR | 17 300 000 | 14 799 112,00 |
| 3,375 | % Saipem Finance International BV (MTN) 2020/2026 | EUR | 2 600 000 | 2 064 062,00 |
| 2,875 | % Samhallsbyggnadsbolaget i Norden AB |  |  |  |
| 2021/perpetual *	EUR | 2 000 000 | 662 340,00 |
| 3,50 | % Samsonite Finco Sarl -Reg- (MTN) 2018/2026 ..  | EUR | 4 400 000 | 3 729 924,00 |
| 3,375 | % Schaeffler AG (MTN) 2020/2028 .............  | EUR | 2 700 000 | 2 195 451,00 |
| 6,375 | % Schoeller Packaging BV -Reg- (MTN) 2019/2024 | EUR | 3 500 000 | 2 957 780,00 |
| 4,375 | % SCIL IV LLC Via SCIL USA Holdings LLC -Reg- (MTN) 2021/2026 ........................  | EUR | 6 271 000 | 5 118 013,94 |
| 4,50 | % Shiba Bidco SpA -Reg- (MTN) 2021/2028 ......  | EUR | 1 000 000 | 828 930,00 |
| 6,25 | % Standard Profil Automotive GmbH -Reg- (MTN) 2021/2026 ..............................  | EUR | 3 900 000 | 2 419 365,00 |
| 6,00 | % Superior Industries International, Inc. -Reg- (MTN) 2017/2025 ..............................  | EUR | 5 470 000 | 4 436 498,20 |
| 2,00 | % Techem Verwaltungsgesellschaft 675 mbH -Reg- (MTN) 2020/2025 ........................  | EUR | 2 900 000 | 2 550 231,00 |
| 7,75 | % Telecom Italia Finance SA (MTN) 2003/2033 ...  | EUR | 4 000 000 | 4 159 800,00 |
| 3,50 | % Telenet Finance Luxembourg Notes Sarl -Reg- 2017/2028 ..............................  | EUR | 2 500 000 | 2 139 050,00 |
| 4,375 | % Teva Pharmaceutical Finance Netherlands II BV (MTN) 2021/2030 ........................  | EUR | 1 200 000 | 959 076,00 |
| 3,875 | % Trafigura Funding SA (MTN) 2021/2026 .......  | EUR | 3 000 000 | 2 590 260,00 |
| 5,25 | % United Group BV -Reg- (MTN) 2022/2030 .....  | EUR | 1 825 000 | 1 355 701,25 |
| 3,625 | % UPCB Finance VII Ltd -Reg- 2017/2029 .......  | EUR | 1 600 000 | 1 326 240,00 |
| 3,25 | % Verisure Holding AB -Reg- (MTN) 2021/2027 ...  | EUR | 2 500 000 | 2 072 650,00 |
| 5,25 | % Via Celere Desarrollos Inmobiliarios SA -Reg- (MTN) 2021/2026 ..............................  | EUR | 100 000 | 86 392,00 |

| Wertpapierbezeichnung | Währung bzw. Nominal in Stück | Nominalbetrag bzw. Bestand | Wertpapier-Darlehen Kurswert in EUR unbefristet | gesamt |
| --- | --- | --- | --- | --- |
| 3,625 | % Victoria PLC (MTN) 2021/2026 ..............  | EUR | 4 400 000 | 3 435 784,00 |
| 3,00 | % Vivion Investments Sarl (MTN) 2019/2024 .....  | EUR | 4 000 000 | 3 466 680,00 |
| 3,25 | % Vmed O2 UK Financing I PLC -Reg- 2020/2031 . | EUR | 2 200 000 | 1 702 800,00 |
| 5,875 | % Webuild SpA (MTN) 2020/2025 .............  | EUR | 8 200 000 | 7 513 086,00 |
| 3,875 | % Webuild SpA 2022/2026 ...................  | EUR | 6 836 000 | 5 670 530,36 |
| 2,875 | % Ziggo BV -Reg- 2019/2030 .................  | EUR | 7 000 000 | 5 356 190,00 |
| 4,00 | % B&M European Value Retail SA (MTN) 2021/2028 | GBP | 1 800 000 | 1 656 089,89 |
| 3,875 | % Ocado Group Plc -Reg- (MTN) 2021/2026 .....  | GBP | 3 500 000 | 3 303 462,19 |
| 3,625 | % Pinewood Finance Co., Ltd -Reg- (MTN) 2021/2027 | GBP | 1 100 000 | 1 054 812,57 |
| 3,50 | % Premier Foods Finance PLC (MTN) 2021/2026 . | GBP | 120 000 | 122 572,29 |
| 6,50 | % Very Group Funding Plc -Reg- (MTN) 2021/2026 | GBP | 3 500 000 | 3 132 473,68 |
| 5,25 | % Electricite de France SA -Reg- 2013/perpetual * . | USD | 500 000 | 452 508,50 |
| 5,125 | % Vodafone Group PLC 2021/2081 * ...........  | USD | 100 000 | 65 207,65 |

Gesamtbetrag der Rückerstattungsansprüche aus Wertpapier-Darlehen	263 008 732,77	263 008 732,77 Vertragspartner der Wertpapier-Darlehen
Barclays Bank Ireland PLC FI, BNP Paribas Arbitrage SNC, BNP Paribas S.A., Credit Agricole CIB S.A. FI, Crédit Suisse Securities Sociedad de Valores S.A. FI, Deutsche Bank AG FI, Goldman Sachs Bank Europe SE EQ, J.P. Morgan AG EQ, J.P. Morgan AG FI, Morgan Stanley Europe SE FI, Nomura Financial Products Europe GmbH, Royal Bank of Canada London Branch, UBS AG London Branch, Zuercher Kantonalbank
| Gesamtbetrag der bei Wertpapier-Darlehen von Dritten gewährten Sicherheiten | EUR | 276 594 129,69 |
| --- | --- | --- |
| davon: |  |  |
| Schuldverschreibungen | EUR | 167 404 928,58 |
| Aktien | EUR | 109 180 654,77 |
| Bankguthaben | EUR | 8 546,34 |
| Devisenkurse (in Mengennotiz) |  |  |
| per 30.6.2022 |  |  |

| Schweizer Franken ...............  | CHF | 0,995461 | = EUR | 1 |
| --- | --- | --- | --- | --- |
| Britisches Pfund .................  | GBP | 0,856432 | = EUR | 1 |
| Schwedische Kronen .............  | SEK | 10,710462 | = EUR | 1 |
| US-Dollar ......................  | USD | 1,041549 | = EUR | 1 |
| Erläuterungen zur Bewertung |  |  |  |  |

Die Anteilwerte werden in Verantwortung des Verwaltungsrats der SICAV durch die Verwaltungsgesellschaft ermittelt sowie die Bewertung der Vermögenswerte des Fondsvermögens durchgeführt. Die grundsätzliche Kursversorgung sowie die Preisvalidierung erfolgen nach den vom Verwaltungsrat der SICAV auf der Grundlage der in den gesetzlichen Bestimmungen/ Verordnungen bzw. im Prospekt der SICAV definierten Grundsätze für Bewertungsmethoden eingeführten Verfahren.
Sofern keine handelbaren Kurse vorliegen, werden Bewertungsmodelle zur Preisermittlung (abgeleitete Verkehrswerte) genutzt, die zwischen State Street Bank International GmbH, Luxembourg Branch, als externem Price Service Provider und der Verwaltungsgesellschaft abgestimmt sind und sich so weit als möglich auf Marktparameter stützen. Diese Vorgehensweise unterliegt einem permanenten Kontrollprozess. Preisauskünfte Dritter werden durch andere Preisquellen, modellhafte Rechnungen oder durch andere geeignete Verfahren auf Plausibilität geprüft.
Die in diesem Bericht ausgewiesenen Vermögenswerte werden nicht zu abgeleiteten Verkehrswerten bewertet.
Fußnoten
* Variabler Zinssatz.
** Diese Wertpapiere sind ganz oder teilweise verliehen.
*** Die abgegrenzte Platzierungsgebühr wird über einen Zeitraum von drei Jahren abgeschrieben (entsprechend Artikel 13 f) des Verwaltungsreglements – Allgemeiner Teil des Fonds).
**** Beinhaltet, sofern vorhanden, keine Positionen mit negativem Bestand.
***** Der Emittent der Wertpapiere befindet sich in Insolvenz.