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Global Value Fund II — Currency Unhedged: Top 20 Equity Holdings

Top 20 Equity Holdings (07/31/18)

Safran SA4.68France
Safran SA is a international tier-1 supplier of systems and equipment in aerospace, defense, and security. The Company sells engines for airplanes, helicopters, launch vehicles and missiles, landing and braking systems, nacelles, onboard electrical systems, optronics, avionics, identity documents, biometric equipment, smartcards, explosives detection, and trace analysis.
SCOR SE3.36France
SCOR SE offers life, accident, property/casualty, health, and special needs reinsurance. The Company offers services through subsidiaries in Europe, the Americas, Asia, and Africa. SCOR also holds real estate investments.
Total SA3.22France
Total SA explores for, produces, refines, transports, and markets oil and natural gas. The Company also operates a chemical division which produces polypropylene, polyethylene, polystyrene, rubber, paint, ink, adhesives, and resins. Total operates gasoline filling stations in Europe, the United States, and Africa.
Roche Holding AG3.12Switzerland
Roche Holding AG develops and manufactures pharmaceutical and diagnostic products. The Company produces prescription drugs in the areas of cardiovascular, infectious, autoimmune, and respiratory diseases, dermatology, metabolic disorders, oncology, transplantation, and the central nervous system.
Novartis AG3.06Switzerland
Novartis AG manufactures pharmaceutical and consumer healthcare products. The Company produces pharmaceuticals for cardiovascular, respiratory and infectious diseases, oncology, neuroscience, transplantation, dermatology, gastrointestinal and urinary conditions, and arthritis, vaccines and diagnostics, vision, and animal health products.
Diageo PLC2.92Great Britain
Diageo PLC produces, distills and markets alcoholic beverages. The Company offers a wide range of branded beverages, including vodkas, whiskeys, tequilas, gins, and beer.
DBS Group Holdings Ltd2.91Singapore
DBS Group Holdings Limited and its subsidiaries provide a variety of financial services. The Company offers services including mortgage financing, lease and hire purchase financing, nominee and trustee, funds management, corporate advisory and brokerage. DBS Group also acts as the primary dealer in Singapore government securities.
Axel Springer AG2.89Germany
Axel Springer is a publishing company based in Europe. The company's lines of business include its advertising driven digital classifieds portfolio, its paid models used by paying readers, and marketing models which sell advertising.
Nestlé SA2.87Switzerland
Nestlé SA is a multinational packaged food company that manufactures and markets a wide range of food products. The Company's product line includes milk, chocolate, confectionery, bottled water, coffee, creamer, food seasoning and pet foods.
WPP PLC2.76Great Britain
WPP plc operates a communications services group. The Company's operations encompass advertising, media investment management, consultancy, public relations, healthcare and specialist communications, and branding and identity services.
HSBC Holdings2.36Great Britain
HSBC Holdings PLC is the holding company for the HSBC Group. The Company provides a variety of international banking and financial services, including retail and corporate banking, trade, trusteeship, securities, custody, capital markets, treasury, private and investment banking, and insurance. The Group operates worldwide.
Johnson & Johnson2.35USA
Johnson & Johnson manufactures health care products and provides related services for the consumer, pharmaceutical, and medical devices and diagnostics markets. The Company sells products such as skin and hair care products, acetaminophen products, pharmaceuticals, diagnostic equipment, and surgical equipment in countries located around the world.
United Overseas Bank2.19Singapore
United Overseas Bank Limited provides a wide range of financial services including personal financial services, wealth management, private banking, commercial and corporate banking, transaction banking, investment banking, corporate finance, capital market activities, treasury services, futures broking, asset management, venture capital management and insurance.
Unilever NV2.10Netherlands
Unilever NV manufactures branded and packaged consumer goods, including food, detergents, fragrances, home and personal care products. Dually-listed company with ULVR LN.
Standard Chartered PLC2.07Great Britain
Standard Chartered plc is an international banking group operating principally in Asia, Africa, and the Middle East. The Company offers its products and services in the personal, consumer, corporate, institutional and treasury areas.
Baidu, Inc.2.06China
Baidu, Inc. operates an Internet search engine. The Company offers algorithmic search, enterprise search, news, MP3, and image searches, voice assistance, online storage, and navigation services. Baidu serves clients globally.
Zurich Insurance Group AG2.05Switzerland
Zurich Insurance Group AG provides insurance-based financial services. The Company offers general and life insurance products and services for individuals, small businesses, commercial enterprises, mid-sized and large corporations, and multinational companies.
Cisco Systems Inc2.03USA
Cisco Systems, Inc. designs, manufactures, and sells Internet Protocol (IP)-based networking and other products related to the communications and information technology (IT) industry and provide services associated with these products and their use. The Company provides products for transporting data, voice, and video within buildings, across campuses, and globally.
G4S PLC2.02Great Britain
G4S plc operates as a global integrated security company. The Company offers security guards, alarms, monitoring, management and the transportation of valuables and currencies. G4S provides these services, in addition to others, around the world.
BAE Systems PLC1.92Great Britain
BAE Systems plc develops, delivers, and supports advanced defense and aerospace systems. The Group manufactures military aircraft, surface ships, submarines, radar, avionics, communications, electronics, and guided weapon systems. BAE Systems services clients located throughout the world.
Totals:52.94% 

Note: The top twenty holdings listed above are not necessarily representative of the fund’s entire portfolio and are subject to change.