UBS ETF – MSCI World UCITS ETF Semi-Annual report as of 30 June 2019
Schedule of Investments as at 30 June 2019 (Expressed in USD) (Unaudited)
Transferable securities listed on an Official Stock Exchange
Market % of
Quantity Value USD Net Assets
Common Stocks
Advertising (0.17%)
Dentsu 5,500 191,944 0.02
Hakuhodo DY Holdings 7,100 119,541 0.01
Interpublic Group of Companies 9,675 218,558 0.02
JCDecaux 2,881 87,403 0.01
Omnicom Group 6,014 492,847 0.04
Publicis Groupe 6,532 345,376 0.03
WPP 35,236 444,054 0.04
Aerospace & Defense (2.09%)
Airbus 15,693 2,228,181 0.20
Arconic 10,384 268,115 0.02
BAE Systems 86,648 546,312 0.05
Boeing 14,640 5,329,106 0.47
Bombardier - Class B 57,200 96,300 0.01
CAE 8,600 231,725 0.02
Dassault Aviation 112 161,218 0.01
Elbit Systems 315 46,898 0.00
General Dynamics 7,042 1,280,377 0.11
HEICO 532 71,187 0.01
HEICO - Class A 1,016 105,024 0.01
IHI 3,100 74,723 0.01
Kawasaki Heavy Industries 3,600 84,637 0.01
L3 Technologies 1,947 477,346 0.04
L3Harris Technologies 3,400 643,042 0.06
Leonardo 11,795 149,701 0.01
Lockheed Martin 6,926 2,517,878 0.22
Meggitt 24,379 162,582 0.02
MTU Aero Engines 1,413 337,112 0.03
Northrop Grumman 4,676 1,510,862 0.13
Raytheon 8,008 1,392,431 0.12
Rolls-Royce Holdings 47,289 505,792 0.05
Safran 8,785 1,289,062 0.11
Spirit AeroSystems Holdings - Class A 2,956 240,530 0.02
Thales 3,222 398,660 0.04
TransDigm Group 1,431 692,318 0.06
United Technologies 22,052 2,871,170 0.25
Agriculture (0.92%)
Altria Group 51,795 2,452,493 0.22
Archer-Daniels-Midland 15,521 633,257 0.06
British American Tobacco 62,112 2,173,083 0.19
Bunge 4,253 236,935 0.02
Golden Agri-Resources 310,000 66,447 0.01
Imperial Brands 27,075 636,377 0.06
Japan Tobacco 30,900 682,444 0.06
Philip Morris International 42,560 3,342,237 0.29
Swedish Match 3,861 163,126 0.01
Airlines (0.10%)
American Airlines Group 2,469 80,514 0.01
ANA Holdings 4,200 139,090 0.01
Delta Air Lines 4,700 266,725 0.02
Deutsche Lufthansa - Registered 7,803 133,913 0.01
easyJet 4,650 56,411 0.00
Japan Airlines 3,400 108,652 0.01
Singapore Airlines 10,000 68,517 0.01
Southwest Airlines 3,360 170,621 0.02
United Continental Holdings 1,570 137,454 0.01
Apparel (1.07%)
adidas 5,005 1,547,468 0.14
Burberry Group 11,230 266,125 0.02
Gildan Activewear 4,124 159,942 0.01
Hanesbrands 11,400 196,308 0.02
Hermes International 919 663,727 0.06
The accompanying notes form an integral part of these financial statements.
225
UBS ETF – MSCI World UCITS ETF Semi-Annual report as of 30 June 2019
Schedule of Investments as at 30 June 2019 (Expressed in USD) (Unaudited)
Transferable securities listed on an Official Stock Exchange
Market % of
Quantity Value USD Net Assets
Apparel (1.07%) (continued)
Kering 2,125 1,258,616 0.11
LVMH Moet Hennessy Louis Vuitton 7,526 3,207,980 0.28
Moncler 5,575 238,715 0.02
NIKE - Class B 34,791 2,920,705 0.26
Puma 1,870 124,899 0.01
PVH 2,400 227,136 0.02
Ralph Lauren 1,869 212,300 0.02
Under Armour - Class A 4,517 114,506 0.01
Under Armour - Class C 4,487 99,611 0.01
VF 9,315 813,665 0.07
Yue Yuen Industrial Holdings 32,000 87,654 0.01
Auto Manufacturers (1.34%)
Bayerische Motoren Werke 7,667 568,313 0.05
Daimler - Registered 25,253 1,406,991 0.12
Ferrari 3,383 550,146 0.05
Fiat Chrysler Automobiles 30,762 429,700 0.04
Ford Motor 108,242 1,107,316 0.10
General Motors 35,624 1,372,593 0.12
Hino Motors 8,000 67,347 0.01
Honda Motor 40,700 1,052,065 0.09
Isuzu Motors 15,800 179,939 0.02
Mazda Motor 16,100 168,038 0.02
Mitsubishi Motors 24,500 117,338 0.01
Nissan Motor 62,100 444,741 0.04
PACCAR 9,765 699,760 0.06
Peugeot 16,494 407,036 0.04
Renault 4,721 297,254 0.03
Subaru 15,900 386,505 0.03
Suzuki Motor 10,700 502,922 0.04
Tesla 3,623 809,595 0.07
Toyota Motor 62,756 3,895,602 0.34
Volkswagen 615 105,860 0.01
Volvo - Class B 37,483 595,279 0.05
Auto Parts & Equipment (0.53%)
Aisin Seiki 5,500 189,391 0.02
Aptiv 7,480 604,608 0.05
Autoliv 3,000 211,530 0.02
BorgWarner 6,020 252,720 0.02
Bridgestone 16,400 645,710 0.06
Compagnie Generale des Etablissements Michelin 4,886 620,684 0.05
Continental 3,049 445,206 0.04
Denso 12,100 509,089 0.04
Faurecia 1,692 78,635 0.01
JTEKT 9,600 116,369 0.01
Koito Manufacturing 3,800 202,803 0.02
Lear 1,802 250,965 0.02
Magna International 8,674 432,522 0.04
NGK Insulators 7,300 106,444 0.01
NGK Spark Plug 3,200 60,056 0.00
Nokian Renkaat 3,264 102,070 0.01
Stanley Electric 4,400 108,142 0.01
Sumitomo Electric Industries 20,600 270,454 0.02
Sumitomo Rubber Industries 5,600 64,763 0.01
Toyoda Gosei 1,200 23,401 0.00
Toyota Industries 4,200 231,168 0.02
Valeo 5,705 185,810 0.02
WABCO Holdings 1,345 178,347 0.02
Yokohama Rubber 3,500 64,321 0.01
Banks (8.48%)
ABN AMRO Bank - CVA 11,820 253,262 0.02
AIB Group 16,341 66,918 0.01
Aozora Bank 2,599 62,382 0.01
Australia & New Zealand Banking Group 74,740 1,479,580 0.13
Banco Bilbao Vizcaya Argentaria 187,459 1,049,673 0.09
The accompanying notes form an integral part of these financial statements.
226
UBS ETF – MSCI World UCITS ETF Semi-Annual report as of 30 June 2019
Schedule of Investments as at 30 June 2019 (Expressed in USD) (Unaudited)
Transferable securities listed on an Official Stock Exchange
Market % of
Quantity Value USD Net Assets
Banks (8.48%) (continued)
Banco de Sabadell 159,087 165,044 0.01
Banco Espirito Santo - Registered* 53,033 0 0.00
Banco Santander 440,158 2,045,359 0.18
Bank Hapoalim BM 25,316 187,818 0.02
Bank Leumi Le-Israel BM 42,050 303,713 0.03
Bank of America 254,882 7,391,578 0.65
Bank of East Asia 49,382 138,112 0.01
Bank of Ireland Group 25,880 135,454 0.01
Bank of Kyoto 1,400 54,121 0.00
Bank of Montreal 16,477 1,247,297 0.11
Bank of New York Mellon 22,204 980,307 0.09
Bank of Nova Scotia 34,011 1,830,751 0.16
Bank of Queensland 713 4,768 0.00
Bankia 37,743 89,316 0.01
Bankinter 20,774 143,317 0.01
Barclays 488,639 931,593 0.08
BB&T 19,714 968,549 0.09
Bendigo & Adelaide Bank 15,232 123,779 0.01
BNP Paribas 29,648 1,410,118 0.12
BOC Hong Kong Holdings 114,000 448,704 0.04
CaixaBank 81,923 234,914 0.02
Canadian Imperial Bank of Commerce 12,164 958,599 0.08
Capital One Financial 13,095 1,188,240 0.10
Chiba Bank 17,000 82,996 0.01
CIT Group 3,621 190,247 0.02
Citigroup 65,161 4,563,225 0.40
Citizens Financial Group 12,945 457,735 0.04
Comerica 4,721 342,933 0.03
Commerzbank 27,207 195,784 0.02
Commonwealth Bank of Australia 47,877 2,781,216 0.25
Concordia Financial Group 35,000 130,267 0.01
Credit Agricole 31,064 373,037 0.03
Credit Suisse Group - Registered 72,378 868,907 0.08
Danske Bank 20,160 319,133 0.03
DBS Group Holdings 49,542 950,597 0.08
Deutsche Bank - Registered 48,489 374,387 0.03
DNB 27,503 511,928 0.05
East West Bancorp 3,900 182,403 0.02
Erste Group Bank 9,150 340,110 0.03
Fifth Third Bancorp 19,222 536,294 0.05
FinecoBank Banca Fineco 6,018 67,231 0.01
First Republic Bank 3,927 383,472 0.03
Fukuoka Financial Group 3,300 60,248 0.01
Goldman Sachs Group 8,804 1,801,298 0.16
Hang Seng Bank 21,500 535,264 0.05
HSBC Holdings 545,303 4,558,934 0.40
Huntington Bancshares 25,965 358,836 0.03
ING Groep 108,837 1,263,729 0.11
Intesa Sanpaolo 422,572 905,666 0.08
Investec 15,131 98,404 0.01
Japan Post Bank 4,300 43,662 0.00
JPMorgan Chase & Co 89,877 10,048,249 0.89
KBC Group 6,370 418,130 0.04
KeyCorp 30,186 535,801 0.05
Lloyds Banking Group 2,043,732 1,471,939 0.13
M&T Bank 3,970 675,178 0.06
Mediobanca Banca di Credito Finanziario 13,884 143,343 0.01
Mitsubishi UFJ Financial Group 330,900 1,572,497 0.14
Mizrahi Tefahot Bank 3,784 87,286 0.01
Mizuho Financial Group 705,100 1,021,590 0.09
Morgan Stanley 34,515 1,512,102 0.13
National Australia Bank 73,929 1,386,225 0.12
National Bank of Canada 8,565 407,751 0.04
Natixis 31,059 125,174 0.01
Nordea Bank 86,028 625,122 0.06
Northern Trust 6,025 542,250 0.05
Oversea-Chinese Banking 86,312 727,268 0.06
The accompanying notes form an integral part of these financial statements.
227
UBS ETF – MSCI World UCITS ETF Semi-Annual report as of 30 June 2019
Schedule of Investments as at 30 June 2019 (Expressed in USD) (Unaudited)
Transferable securities listed on an Official Stock Exchange
Market % of
Quantity Value USD Net Assets
Banks (8.48%) (continued)
PNC Financial Services Group 12,542 1,721,766 0.15
Raiffeisen Bank International 3,299 77,505 0.01
Regions Financial 31,389 468,952 0.04
Resona Holdings 56,600 235,667 0.02
Royal Bank of Canada 39,465 3,143,006 0.28
Royal Bank of Scotland Group 134,254 375,561 0.03
Seven Bank 17,000 44,496 0.00
Shinsei Bank 4,900 76,088 0.01
Shizuoka Bank 8,400 61,905 0.01
Signature Bank 1,900 229,596 0.02
Skandinaviska Enskilda Banken - Class A 39,411 364,962 0.03
Societe Generale 21,333 539,813 0.05
Standard Chartered 80,010 727,261 0.06
State Street 10,900 611,054 0.05
Sumitomo Mitsui Financial Group 35,300 1,247,000 0.11
Sumitomo Mitsui Trust Holdings 9,900 358,914 0.03
SunTrust Banks 12,502 785,751 0.07
SVB Financial Group 1,500 336,885 0.03
Svenska Handelsbanken - Class A 43,319 428,979 0.04
Swedbank - Class A 25,914 389,484 0.03
Toronto-Dominion Bank 50,974 2,984,909 0.26
UBS Group - Registered 105,486 1,255,013 0.11
UniCredit 58,452 720,634 0.06
United Overseas Bank 31,815 614,454 0.05
US Bancorp 40,671 2,131,160 0.19
Wells Fargo & Co 118,793 5,621,285 0.50
Westpac Banking 95,295 1,896,526 0.17
Zions Bancorp 5,145 236,567 0.02
Beverages (2.01%)
Anheuser-Busch InBev 21,116 1,871,811 0.17
Asahi Group Holdings 9,600 431,706 0.04
Brown-Forman - Class B 8,205 454,803 0.04
Carlsberg - Class B 3,027 401,907 0.04
Coca-Cola 111,720 5,688,782 0.50
Coca-Cola Amatil 19,042 136,567 0.01
Coca-Cola Bottlers Japan Holdings 2,300 58,258 0.01
Coca-Cola European Partners 5,421 306,287 0.03
Coca-Cola HBC 5,419 204,972 0.02
Constellation Brands - Class A 4,642 914,195 0.08
Davide Campari-Milano 10,389 101,924 0.01
Diageo 66,941 2,883,027 0.25
Heineken 7,287 814,409 0.07
Heineken Holding 3,496 367,469 0.03
Kirin Holdings 23,100 498,170 0.04
Molson Coors Brewing - Class B 5,757 322,392 0.03
Monster Beverage 11,405 727,981 0.06
PepsiCo 38,395 5,034,736 0.44
Pernod Ricard 5,710 1,053,738 0.09
Remy Cointreau 632 91,261 0.01
Suntory Beverage & Food 3,900 169,589 0.02
Treasury Wine Estates 15,373 160,957 0.01
Vitasoy International Holdings 14,000 67,290 0.01
Building Materials (0.72%)
AGC 4,600 159,040 0.01
Boral 39,317 141,264 0.01
Compagnie de Saint-Gobain 14,209 554,611 0.05
CRH 24,252 792,366 0.07
Daikin Industries 7,100 926,875 0.08
Fletcher Building 39,590 128,964 0.01
Fortune Brands Home & Security 3,250 185,672 0.02
Geberit - Registered 997 466,289 0.04
HeidelbergCement 3,807 308,508 0.03
Imerys 908 48,207 0.00
James Hardie Industries - CDI 8,010 105,113 0.01
Johnson Controls International 21,186 875,194 0.08
The accompanying notes form an integral part of these financial statements.
228
UBS ETF – MSCI World UCITS ETF Semi-Annual report as of 30 June 2019
Schedule of Investments as at 30 June 2019 (Expressed in USD) (Unaudited)
Transferable securities listed on an Official Stock Exchange
Market % of
Quantity Value USD Net Assets
Building Materials (0.72%) (continued)
Kingspan Group 2,536 137,931 0.01
LafargeHolcim - Registered - CH 6,018 294,234 0.03
LafargeHolcim - Registered - FR 6,367 311,347 0.03
Lennox International 900 247,500 0.02
LIXIL Group 4,700 74,335 0.01
Martin Marietta Materials 1,718 395,329 0.03
Masco 7,962 312,429 0.03
Owens Corning 2,291 133,336 0.01
Rinnai 1,100 69,937 0.01
Sika - Registered 3,780 645,895 0.06
Taiheiyo Cement 3,300 99,851 0.01
TOTO 4,500 177,720 0.01
Vulcan Materials 3,851 528,781 0.05
Chemicals (2.26%)
Air Liquide 11,893 1,666,559 0.15
Air Products & Chemicals 6,084 1,377,235 0.12
Air Water 4,000 68,461 0.01
Akzo Nobel 6,629 623,858 0.06
Albemarle 2,267 159,619 0.01
Arkema 1,993 185,610 0.02
Asahi Kasei 33,900 361,371 0.03
Axalta Coating Systems 6,800 202,436 0.02
Basf 25,291 1,840,986 0.16
Brenntag 4,962 244,733 0.02
Celanese - Class A 3,222 347,332 0.03
CF Industries Holdings 5,981 279,373 0.02
Chemours 5,400 129,600 0.01
Clariant - Registered 4,397 89,496 0.01
Corteva 21,072 623,099 0.05
Covestro 5,794 295,006 0.03
Croda International 3,702 241,231 0.02
Daicel 5,200 46,237 0.00
Dow 21,072 1,039,060 0.09
DuPont de Nemours 21,072 1,581,875 0.14
Eastman Chemical 3,586 279,098 0.02
EMS-Chemie Holding - Registered 270 175,431 0.02
Evonik Industries 3,202 93,385 0.01
FMC 4,200 348,390 0.03
Givaudan - Registered 248 701,013 0.06
Hitachi Chemical 1,900 51,600 0.00
Incitec Pivot 54,648 130,771 0.01
International Flavors & Fragrances - IL 241 34,671 0.00
International Flavors & Fragrances - US 2,366 343,283 0.03
Israel Chemicals 16,505 86,492 0.01
Johnson Matthey 5,543 234,847 0.02
JSR 5,400 85,255 0.01
Kaneka 2,200 82,699 0.01
Kansai Paint 2,700 56,611 0.00
Koninklijke DSM 4,785 592,324 0.05
Kuraray 5,500 65,700 0.01
Lanxess 3,017 179,553 0.02
Linde - DE 6,531 1,313,835 0.12
Linde - US 8,439 1,694,551 0.15
LyondellBasell Industries - Class A 7,703 663,459 0.06
Methanex 2,000 90,989 0.01
Mitsubishi Chemical Holdings 35,600 248,678 0.02
Mitsubishi Gas Chemical 2,400 31,988 0.00
Mitsui Chemicals 3,500 86,639 0.01
Mosaic 9,755 244,168 0.02
Nippon Paint Holdings 5,300 205,625 0.02
Nissan Chemical 3,500 157,718 0.01
Nitto Denko 5,100 251,686 0.02
Novozymes - Class B 5,885 274,855 0.02
Nutrien 15,451 828,271 0.07
PPG Industries 6,044 705,395 0.06
Sherwin-Williams 2,468 1,131,060 0.10
The accompanying notes form an integral part of these financial statements.
229
UBS ETF – MSCI World UCITS ETF Semi-Annual report as of 30 June 2019
Schedule of Investments as at 30 June 2019 (Expressed in USD) (Unaudited)
Transferable securities listed on an Official Stock Exchange
Market % of
Quantity Value USD Net Assets
Chemicals (2.26%) (continued)
Shin-Etsu Chemical 10,300 959,351 0.08
Showa Denko 3,200 94,153 0.01
Solvay 2,246 233,011 0.02
Sumitomo Chemical 42,300 196,306 0.02
Symrise 3,488 336,202 0.03
Taiyo Nippon Sanso 3,000 63,709 0.01
Teijin 3,300 56,266 0.00
Toray Industries 37,500 285,131 0.03
Tosoh 6,200 87,182 0.01
Umicore 6,046 194,162 0.02
Westlake Chemical 1,200 83,352 0.01
Yara International 4,483 217,576 0.02
Commercial Services (2.54%)
Adecco Group - Registered 5,071 305,092 0.03
Adyen 271 209,426 0.02
Amerco 200 75,710 0.01
Ashtead Group 13,498 387,213 0.03
Atlantia 14,571 380,156 0.03
Automatic Data Processing 12,348 2,041,495 0.18
Benesse Holdings 1,300 30,262 0.00
Brambles 43,110 389,651 0.03
Bureau Veritas 9,187 227,238 0.02
Cintas 2,657 630,479 0.06
CoStar Group 997 552,398 0.05
Dai Nippon Printing 6,100 129,994 0.01
Ecolab 7,362 1,453,553 0.13
Edenred 7,952 406,241 0.04
Equifax 3,600 486,864 0.04
Experian 25,867 784,835 0.07
FleetCor Technologies 2,400 674,040 0.06
G4S 44,587 118,031 0.01
Gartner 2,902 467,048 0.04
Global Payments 3,933 629,791 0.06
GMO Payment Gateway 1,600 110,043 0.01
H&R Block 6,227 182,451 0.02
IHS Markit 10,668 679,765 0.06
Intertek Group 4,330 303,204 0.03
ISS 3,479 105,156 0.01
Kirkland Lake Gold 5,800 250,420 0.02
ManpowerGroup 1,601 154,657 0.01
MarketAxess Holdings 868 278,993 0.02
Moody's 4,758 929,285 0.08
Nielsen Holdings 9,070 204,982 0.02
Okta 2,800 345,828 0.03
Park24 3,700 86,164 0.01
PayPal Holdings 31,060 3,555,128 0.31
Persol Holdings 5,500 129,205 0.01
Randstad 3,684 202,635 0.02
Recruit Holdings 31,800 1,060,787 0.09
Relx - GB 32,999 801,949 0.07
Relx - NL 22,608 547,875 0.05
Rentokil Initial 35,928 181,759 0.02
Robert Half International 4,132 235,565 0.02
Rollins 4,500 161,415 0.01
S&P Global 7,046 1,605,008 0.14
Sabre 7,175 159,285 0.01
Secom 5,600 482,034 0.04
Securitas - Class B 6,678 117,248 0.01
SGS - Registered 138 352,006 0.03
Sohgo Security Services 2,000 92,259 0.01
Square - Class A 8,538 619,261 0.06
Toppan Printing 6,000 91,052 0.01
Total System Services 4,025 516,287 0.05
TransUnion 4,972 365,492 0.03
Transurban Group 72,533 750,266 0.07
United Rentals 1,787 237,010 0.02
The accompanying notes form an integral part of these financial statements.
230
UBS ETF – MSCI World UCITS ETF Semi-Annual report as of 30 June 2019
Schedule of Investments as at 30 June 2019 (Expressed in USD) (Unaudited)
Transferable securities listed on an Official Stock Exchange
Market % of
Quantity Value USD Net Assets
Commercial Services (2.54%) (continued)
Verisk Analytics 4,296 629,192 0.06
Western Union 12,967 257,914 0.02
Wirecard 3,359 566,325 0.05
Worldpay - Class A - GB 2,522 309,071 0.03
Worldpay - Class A - US 5,847 716,550 0.06
Computers (3.64%)
Accenture - Class A 17,985 3,323,088 0.29
Apple 129,225 25,576,212 2.25
Atos 2,576 215,675 0.02
Capgemini 3,878 482,919 0.04
CGI 7,100 547,027 0.05
Check Point Software Technologies 3,436 397,236 0.03
Cognizant Technology Solutions - Class A 16,218 1,028,059 0.09
Computershare 11,018 125,334 0.01
CyberArk Software 900 115,056 0.01
Dell Technologies - Class C 4,573 232,308 0.02
DXC Technology 7,317 403,533 0.04
EPAM Systems 1,040 180,024 0.02
Fortinet 4,095 314,619 0.03
Fujitsu 5,100 355,589 0.03
Hewlett Packard Enterprise 34,257 512,142 0.05
HP 44,836 932,140 0.08
Ingenico Group 1,820 161,208 0.01
International Business Machines 24,094 3,322,563 0.29
Leidos Holdings 4,200 335,370 0.03
NEC 7,500 295,155 0.03
NetApp 7,206 444,610 0.04
Nomura Research Institute 10,998 176,291 0.02
NTT Data 16,100 214,437 0.02
Obic 1,800 203,824 0.02
Otsuka 2,400 96,566 0.01
Seagate Technology 6,530 307,694 0.03
TDK 3,600 278,671 0.02
Teleperformance 1,541 309,212 0.03
Western Digital 7,631 362,854 0.03
Cosmetics & Personal Care (1.78%)
Beiersdorf 2,829 340,047 0.03
Colgate-Palmolive 22,746 1,630,206 0.14
Coty - Class A 10,764 144,238 0.01
Essity - Class B 15,495 476,630 0.04
Estee Lauder Companies - Class A 5,880 1,076,687 0.10
Kao 13,300 1,013,486 0.09
Kose 1,000 167,719 0.02
Lion 8,200 152,751 0.01
L'Oreal 7,085 2,021,134 0.18
Pigeon 2,000 80,471 0.01
Pola Orbis Holdings 1,200 33,525 0.00
Procter & Gamble 69,045 7,570,784 0.67
Shiseido 10,600 798,985 0.07
Unicharm 10,900 328,194 0.03
Unilever 30,099 1,874,936 0.17
Unilever - CVA 39,901 2,433,728 0.21
Distribution & Wholesale (0.52%)
Bunzl 8,828 233,359 0.02
Copart 6,300 470,862 0.04
Fastenal 16,114 525,155 0.05
Ferguson 6,588 469,535 0.04
HD Supply Holdings 4,513 181,784 0.02
ITOCHU 35,000 669,366 0.06
Jardine Cycle & Carriage 1,876 50,236 0.00
LKQ 9,800 260,778 0.02
Marubeni 44,100 291,844 0.03
Mitsubishi 34,000 896,232 0.08
Mitsui & Co 47,700 776,553 0.07
The accompanying notes form an integral part of these financial statements.
231
UBS ETF – MSCI World UCITS ETF Semi-Annual report as of 30 June 2019
Schedule of Investments as at 30 June 2019 (Expressed in USD) (Unaudited)
Transferable securities listed on an Official Stock Exchange
Market % of
Quantity Value USD Net Assets
Distribution & Wholesale (0.52%) (continued)
Sumitomo 33,700 510,630 0.04
Toyota Tsusho 7,700 233,344 0.02
WW Grainger 1,387 372,035 0.03
Diversified Financial Services (3.20%)
Acom 5,500 19,807 0.00
AEON Financial Service 3,500 56,363 0.01
Affiliated Managers Group 1,155 106,422 0.01
Alliance Data Systems 1,071 150,079 0.01
Ally Financial 11,107 344,206 0.03
American Express 19,615 2,421,276 0.21
Ameriprise Financial 3,637 527,947 0.05
Amundi 1,480 103,485 0.01
ASX 4,821 278,669 0.02
BlackRock 3,353 1,573,563 0.14
Cboe Global Markets 3,200 331,616 0.03
Charles Schwab 33,888 1,361,959 0.12
CI Financial 5,300 86,552 0.01
CME Group 10,112 1,962,840 0.17
Credit Saison 5,200 60,861 0.01
Daiwa Securities Group 38,600 169,139 0.01
Deutsche Boerse 5,059 716,692 0.06
Discover Financial Services 9,192 713,207 0.06
E*TRADE Financial 7,136 318,266 0.03
Eaton Vance 3,517 151,688 0.01
Franklin Resources 7,707 268,204 0.02
Hargreaves Lansdown 7,190 175,602 0.02
Hong Kong Exchanges & Clearing 34,814 1,229,018 0.11
IGM Financial 4,000 114,452 0.01
Intercontinental Exchange 15,806 1,358,368 0.12
Invesco 8,679 177,572 0.02
Japan Exchange Group 13,600 216,106 0.02
Jefferies Financial Group 10,047 193,204 0.02
Julius Baer Group 5,740 255,857 0.02
London Stock Exchange Group 8,743 610,439 0.05
Macquarie Group 8,854 779,085 0.07
Mastercard - Class A 25,357 6,707,687 0.59
Mebuki Financial Group 25,740 67,133 0.01
Mitsubishi UFJ Lease & Finance 10,000 52,998 0.00
Nasdaq 3,400 326,978 0.03
Nomura Holdings 92,500 325,733 0.03
ORIX 38,000 567,143 0.05
Partners Group Holding 542 426,373 0.04
Raymond James Financial 2,876 243,166 0.02
Schroders 3,267 126,816 0.01
SEI Investments 4,151 232,871 0.02
Singapore Exchange 21,100 123,517 0.01
Standard Life Aberdeen 66,930 250,946 0.02
Synchrony Financial 16,479 571,327 0.05
T Rowe Price Group 6,740 739,445 0.07
TD Ameritrade Holding 8,251 411,890 0.04
Visa - Class A 47,935 8,319,119 0.73
Electric (2.87%)
AES 15,556 260,719 0.02
AGL Energy 16,643 233,701 0.02
Alliant Energy 6,828 335,118 0.03
Ameren 6,389 479,878 0.04
American Electric Power 13,951 1,227,827 0.11
Atco - Class I 2,600 87,824 0.01
AusNet Services 82,000 107,894 0.01
CenterPoint Energy 13,242 379,118 0.03
Chubu Electric Power 18,200 255,330 0.02
Chugoku Electric Power 9,400 118,482 0.01
CLP Holdings 46,000 507,546 0.05
CMS Energy 7,333 424,654 0.04
Consolidated Edison 8,344 731,602 0.07
The accompanying notes form an integral part of these financial statements.
232
UBS ETF – MSCI World UCITS ETF Semi-Annual report as of 30 June 2019
Schedule of Investments as at 30 June 2019 (Expressed in USD) (Unaudited)
Transferable securities listed on an Official Stock Exchange
Market % of
Quantity Value USD Net Assets
Electric (2.87%) (continued)
Dominion Energy 21,077 1,629,674 0.14
DTE Energy 4,974 636,075 0.06
Duke Energy 19,916 1,757,388 0.16
E.On 62,116 675,616 0.06
Edison International 8,689 585,725 0.05
EDP - Energias de Portugal 73,802 280,881 0.03
Electric Power Development 5,300 120,423 0.01
Electricite de France 18,096 228,437 0.02
Emera 3,100 126,942 0.01
Endesa 10,064 259,131 0.02
Enel 222,252 1,554,038 0.14
Engie 46,169 701,381 0.06
Entergy 4,779 491,902 0.04
Evergy 7,539 453,471 0.04
Eversource Energy 8,071 611,459 0.06
Exelon 26,576 1,274,053 0.11
FirstEnergy 13,469 576,608 0.05
Fortis 12,105 479,012 0.04
Fortum 12,618 279,269 0.03
HK Electric Investments & HK Electric Investments 80,000 81,920 0.01
Hydro One 6,300 110,114 0.01
Iberdrola 168,976 1,686,841 0.15
Innogy 4,279 183,466 0.02
Kansai Electric Power 18,700 214,267 0.02
Kyushu Electric Power 14,300 140,425 0.01
Meridian Energy 34,480 110,003 0.01
NextEra Energy 13,278 2,720,131 0.24
NRG Energy 7,708 270,705 0.02
OGE Energy 6,000 255,360 0.02
Origin Energy 52,597 269,812 0.02
Orsted 5,447 471,730 0.04
Pinnacle West Capital 3,024 284,528 0.03
Power Assets Holdings 40,500 291,341 0.03
PPL 19,616 608,292 0.05
Public Service Enterprise Group 13,784 810,775 0.07
Red Electrica 12,643 263,697 0.02
RWE 14,816 365,626 0.03
Sembcorp Industries 33,000 58,783 0.01
Sempra Energy 7,360 1,011,558 0.09
Southern 28,217 1,559,836 0.14
SSE 26,650 380,554 0.03
Terna Rete Elettrica Nazionale 39,656 252,898 0.02
Tohoku Electric Power 12,400 125,335 0.01
Tokyo Electric Power Holdings 41,200 214,910 0.02
Uniper 4,929 149,478 0.01
Verbund 803 42,065 0.00
Vistra Energy 9,656 218,612 0.02
WEC Energy Group 8,598 716,815 0.06
Xcel Energy 13,776 819,534 0.07
Electrical Components & Equipment (0.45%)
Acuity Brands 1,373 189,350 0.02
AMETEK 6,160 559,574 0.05
Brother Industries 8,000 151,105 0.01
Casio Computer 8,000 99,350 0.01
Emerson Electric 17,199 1,147,517 0.10
Legrand 7,003 512,794 0.05
Nidec 6,300 861,031 0.08
Prysmian 6,347 131,188 0.01
Schneider Electric - FR 15,319 1,391,436 0.12
Schneider Electric - GB 283 25,754 0.00
Electronics (1.28%)
Agilent Technologies 8,663 646,866 0.06
Allegion 2,655 293,510 0.03
Alps Alpine 4,100 69,107 0.01
Amphenol - Class A 8,174 784,214 0.07
The accompanying notes form an integral part of these financial statements.
233
UBS ETF – MSCI World UCITS ETF Semi-Annual report as of 30 June 2019
Schedule of Investments as at 30 June 2019 (Expressed in USD) (Unaudited)
Transferable securities listed on an Official Stock Exchange
Market % of
Quantity Value USD Net Assets
Electronics (1.28%) (continued)
Arrow Electronics 2,699 192,358 0.02
Assa Abloy - Class B 27,615 624,732 0.05
Corning 22,424 745,149 0.06
Flex 15,200 145,464 0.01
FLIR Systems 4,526 244,857 0.02
Fortive 8,104 660,638 0.06
Garmin 2,885 230,223 0.02
Halma 7,701 197,981 0.02
Hirose Electric 1,033 115,247 0.01
Hitachi High-Technologies 1,500 77,130 0.01
Honeywell International 19,652 3,431,043 0.30
Hoya 11,000 842,714 0.07
Keysight Technologies 5,400 484,974 0.04
Kyocera 9,000 587,665 0.05
Mettler-Toledo International 701 588,840 0.05
MINEBEA MITSUMI 14,600 247,308 0.02
Murata Manufacturing 14,300 642,398 0.06
Nippon Electric Glass 2,400 60,791 0.00
Omron 5,700 297,327 0.03
PerkinElmer 1,999 192,584 0.02
Sensata Technologies Holding 4,800 235,200 0.02
TE Connectivity 9,245 885,486 0.08
Trimble 7,800 351,858 0.03
Venture 7,600 91,507 0.01
Waters 2,149 462,551 0.04
Yokogawa Electric 6,700 131,338 0.01
Energy - Alternate Sources (0.05%)
Siemens Gamesa Renewable Energy 7,079 117,860 0.01
Vestas Wind Systems 5,497 475,557 0.04
Engineering & Construction (0.50%)
ACS Actividades de Construccion y Servicios 6,830 273,086 0.02
Aena 1,837 364,631 0.03
Aeroports de Paris 884 156,240 0.01
Auckland International Airport 18,890 124,972 0.01
Bouygues 6,029 223,620 0.02
CIMIC Group 2,565 80,585 0.01
CK Infrastructure Holdings 24,000 195,686 0.02
Eiffage 1,936 191,678 0.02
Ferrovial 13,014 333,606 0.03
Fluor 3,486 117,443 0.01
Fraport Frankfurt Airport Services Worldwide 739 63,623 0.00
Hochtief 787 95,987 0.01
Jacobs Engineering Group 3,212 271,061 0.02
Japan Airport Terminal 1,600 68,238 0.01
JGC 7,000 96,027 0.01
Kajima 13,000 178,337 0.02
Lendlease Group 13,784 125,748 0.01
Obayashi 23,000 226,499 0.02
SATS 22,200 85,653 0.01
Shimizu 18,000 149,527 0.01
Singapore Technologies Engineering 33,000 100,979 0.01
Skanska - Class B 9,352 169,034 0.01
SNC-Lavalin Group 4,627 93,762 0.01
Sydney Airport 32,794 185,026 0.02
Taisei 5,700 207,124 0.02
Vinci 13,756 1,410,820 0.12
WSP Global 2,300 126,885 0.01
Entertainment (0.23%)
Aristocrat Leisure 14,074 303,404 0.03
Flutter Entertainment 2,714 204,419 0.02
Genting Singapore 160,000 108,799 0.01
GVC Holdings 13,546 112,370 0.01
Live Nation Entertainment 4,700 311,375 0.03
Merlin Entertainments 23,999 137,171 0.01
The accompanying notes form an integral part of these financial statements.
234
UBS ETF – MSCI World UCITS ETF Semi-Annual report as of 30 June 2019
Schedule of Investments as at 30 June 2019 (Expressed in USD) (Unaudited)
Transferable securities listed on an Official Stock Exchange
Market % of
Quantity Value USD Net Assets
Entertainment (0.23%) (continued)
Oriental Land 5,300 656,228 0.06
Sankyo 1,600 57,917 0.00
Sega Sammy Holdings 3,000 36,449 0.00
Stars Group 5,600 95,780 0.01
Tabcorp Holdings 74,174 231,630 0.02
Toho 2,800 119,027 0.01
Vail Resorts 1,241 276,967 0.02
Environmental Control (0.24%)
Kurita Water Industries 1,800 44,691 0.01
Pentair 3,628 134,962 0.01
Republic Services 5,194 450,008 0.04
Waste Connections 7,058 674,604 0.06
Waste Management 11,842 1,366,211 0.12
Food (2.75%)
a2 Milk 16,623 163,788 0.02
Ajinomoto 11,900 206,323 0.02
Aramark 6,500 234,390 0.02
Associated British Foods 8,599 269,549 0.02
Barry Callebaut - Registered 43 86,353 0.01
Calbee 3,100 83,672 0.01
Campbell Soup 5,519 221,146 0.02
Carrefour 17,648 341,256 0.03
Casino Guichard Perrachon 2,241 76,562 0.01
Chocoladefabriken Lindt & Spruengli 34 247,764 0.02
Chocoladefabriken Lindt & Spruengli - Registered 3 244,308 0.02
Chr Hansen Holding 2,758 259,388 0.02
Coles Group 28,761 269,443 0.02
Colruyt 2,138 124,173 0.01
Compass Group 43,032 1,033,450 0.09
Conagra Brands 13,694 363,165 0.03
Dairy Farm International Holdings 6,700 47,905 0.00
Danone 17,244 1,462,992 0.13
Empire - Class A 4,800 121,143 0.01
General Mills 16,616 872,672 0.08
George Weston 2,110 160,452 0.01
Hershey 3,744 501,808 0.05
Hormel Foods 8,316 337,131 0.03
ICA Gruppen 2,952 127,012 0.01
Ingredion 2,000 164,980 0.02
J Sainsbury 62,010 154,644 0.01
Jeronimo Martins 7,344 118,467 0.01
JM Smucker 3,150 362,848 0.03
Kellogg 7,067 378,579 0.03
Kerry Group - Class A 5,163 617,361 0.06
Kikkoman 5,000 217,654 0.02
Koninklijke Ahold Delhaize 31,926 719,076 0.06
Kraft Heinz 16,793 521,255 0.05
Kroger 22,240 482,830 0.04
Lamb Weston Holdings 3,846 243,683 0.02
Loblaw Companies 4,022 206,371 0.02
McCormick & Co - Non-Voting Shares 3,378 523,624 0.05
MEIJI Holdings 2,800 200,111 0.02
Metro - CA 7,100 266,994 0.02
Metro - DE 5,766 105,554 0.01
Mondelez International - Class A 40,114 2,162,145 0.19
Mowi 11,125 260,247 0.02
Nestle - Registered 83,481 8,652,913 0.76
NH Foods 3,000 128,504 0.01
Nisshin Seifun Group 5,445 124,274 0.01
Nissin Foods Holdings 1,500 96,621 0.01
Ocado Group 12,082 179,447 0.02
Orkla 20,311 180,287 0.02
Saputo 7,400 221,986 0.02
Seven & i Holdings 21,200 717,817 0.06
Sodexo 2,595 303,793 0.03
The accompanying notes form an integral part of these financial statements.
235
UBS ETF – MSCI World UCITS ETF Semi-Annual report as of 30 June 2019
Schedule of Investments as at 30 June 2019 (Expressed in USD) (Unaudited)
Transferable securities listed on an Official Stock Exchange
Market % of
Quantity Value USD Net Assets
Food (2.75%) (continued)
Sysco 13,928 984,988 0.09
Tesco 276,487 797,723 0.07
Toyo Suisan Kaisha 3,000 123,631 0.01
Tyson Foods - Class A 8,106 654,478 0.06
Wesfarmers 31,009 786,862 0.07
WH Group 241,000 244,316 0.02
Wilmar International 74,500 203,740 0.02
Wm Morrison Supermarkets 58,701 150,463 0.01
Woolworths Group 34,733 809,944 0.07
Yakult Honsha 2,500 147,345 0.01
Yamazaki Baking 4,500 68,039 0.01
Forest Products & Paper (0.13%)
International Paper 10,915 472,838 0.04
Mondi 10,512 239,477 0.02
Oji Holdings 20,000 115,463 0.01
Smurfit Kappa Group 3,919 118,759 0.01
Stora Enso - Class R 16,713 196,704 0.02
UPM-Kymmene 13,891 369,692 0.03
West Fraser Timber 300 13,706 0.00
Gas (0.35%)
Atmos Energy 3,129 330,297 0.03
Canadian Utilities - Class A 4,200 118,792 0.01
Centrica 153,226 171,180 0.02
Enagas 6,332 169,239 0.02
Hong Kong & China Gas 311,055 689,597 0.06
National Grid 87,115 926,662 0.08
Naturgy Energy Group 7,927 218,731 0.02
NiSource 9,500 273,600 0.02
Osaka Gas 9,300 162,021 0.01
Snam 70,507 350,963 0.03
Toho Gas 2,000 73,603 0.01
Tokyo Gas 9,400 221,390 0.02
UGI 4,900 261,709 0.02
Hand & Machine Tools (0.23%)
Disco 900 147,689 0.01
Fuji Electric 3,400 117,236 0.01
Makita 6,700 227,603 0.02
Sandvik 32,988 606,557 0.06
Schindler Holding 1,091 243,153 0.02
Schindler Holding - Registered 593 129,669 0.01
Snap-on 1,600 265,024 0.02
Stanley Black & Decker 4,601 665,351 0.06
Techtronic Industries 30,500 233,459 0.02
Healthcare Products (3.12%)
Abbott Laboratories 48,602 4,087,428 0.36
ABIOMED 1,063 276,901 0.03
Alcon 11,992 741,413 0.07
Align Technology 2,211 605,151 0.05
Asahi Intecc 5,000 123,167 0.01
Baxter International 13,003 1,064,946 0.09
Becton Dickinson & Co 7,564 1,906,204 0.17
Boston Scientific 39,132 1,681,893 0.15
Carl Zeiss Meditec 568 56,113 0.01
Cochlear 1,638 237,756 0.02
Coloplast - Class B 3,039 343,962 0.03
Cooper Companies 1,367 460,529 0.04
Danaher 17,429 2,490,953 0.22
Demant 3,116 97,036 0.01
DENTSPLY SIRONA 5,724 334,053 0.03
Edwards Lifesciences 5,931 1,095,693 0.10
EssilorLuxottica 7,945 1,038,231 0.09
Fisher & Paykel Healthcare 14,182 147,262 0.01
Henry Schein 3,979 278,132 0.03
Hologic 8,719 418,686 0.04
The accompanying notes form an integral part of these financial statements.
236
UBS ETF – MSCI World UCITS ETF Semi-Annual report as of 30 June 2019
Schedule of Investments as at 30 June 2019 (Expressed in USD) (Unaudited)
Transferable securities listed on an Official Stock Exchange
Market % of
Quantity Value USD Net Assets
Healthcare Products (3.12%) (continued)
IDEXX Laboratories 2,500 688,325 0.06
Intuitive Surgical 3,093 1,622,433 0.14
Koninklijke Philips 26,743 1,162,922 0.10
Lonza Group - Registered 2,074 700,693 0.06
Medtronic 36,894 3,593,107 0.32
Olympus