Sparinvest SICAV Annual Report 2009 R.C.S. Luxembourg B 83.976

Sparinvest SICAV
SPARINVEST - PROCEDO
Statement of Investments (continued) as at December 31, 2009
(expressed in EUR)
Description
Quantity /
Face value
Currency
Cost Market Value % net assets
ABERTIS INFRAESTRUCTURAS SA 5,898.27 EUR 89,521.12 92,720.87 0.07
ACANTHE DEVELOPPEMENT SA 6,740.88 EUR 16,163.18 9,302.42 0.01
AFFINE 505.57 EUR 16,729.56 8,215.45 0.01
AGFA-GEVAERT NV MORTSEL 31,176.59 EUR 104,175.29 141,229.96 0.11
AI AIRPORTS INTL LTD 21,907.88 EUR 105,621.19 43,815.75 0.03
AIR FRANCE - KLM 29,491.37 EUR 330,792.16 324,405.08 0.24
ALLIANZ SE/NAM.VINKULIERT 1,348.18 EUR 114,526.07 117,493.62 0.09
ALSTRIA OFFICE REIT AG 14,324.38 EUR 70,802.50 107,432.85 0.08
AMPLIFON SPA/AFTER SPLIT 7,583.50 EUR 22,702.12 23,015.91 0.02
ANDRITZ AG GRAZ 674.09 EUR 14,885.74 27,314.07 0.02
ANHEUSER-BUSH INBEV SA 4,213.05 EUR 102,309.51 153,334.07 0.11
ARCELORMITTAL SA REG SHS 2,674.45 EUR 138,040.83 86,063.67 0.06
ASIAN BAMBOO AG 1,685.22 EUR 32,345.99 38,760.09 0.03
ASSICURAZIONI/MILANO 16,852.21 EUR 40,338.09 34,547.03 0.03
ATRIA GROUP PLC A 3,370.44 EUR 40,964.44 37,277.09 0.03
ATRIUM EURO RE 22,750.49 EUR 108,346.53 106,927.29 0.08
AXA 34,654.05 EUR 547,718.59 573,177.93 0.44
BABIS VOVOS SA 1,572.31 EUR 32,958.04 6,902.45 0.01
BANCO ESPIRITO SANTO SA/REG 42,130.53 EUR 193,063.91 192,536.52 0.14
BANCO POPOLARE SOC. COOP 37,917.48 EUR 347,933.78 199,825.11 0.15
BANKINTER SA 10,111.33 EUR 85,845.40 72,295.99 0.05
BCA POP.DELL ETRURIA DEL LAZIO 10,953.94 EUR 78,993.32 43,240.67 0.03
BENETTON GROUP SPA PONZANO 5,055.66 EUR 31,843.91 31,547.34 0.02
BENI STABILI SPA 167,173.94 EUR 78,794.46 96,125.02 0.07
BGP HOLDINGS 195,148.62 EUR -
- -
BIC 7,162.19 EUR 283,105.49 345,933.78 0.26
BINCKBANK NV 8,004.80 EUR 50,811.76 100,380.20 0.07
BMW-BAYER.MOTORENWERKE 3,370.44 EUR 119,340.06 107,180.07 0.08
BRIT INSURANCE 12,639.16 EUR 28,010.02 28,045.28 0.02
BRUNEL INTERNATIONAL 1,685.22 EUR 26,907.40 39,518.44 0.03
BUONGIORNO SPA/AZ 16,852.21 EUR 23,737.42 19,548.57 0.01
BUZZI UNICEM/AZ RISP/NON-CV 14,324.38 EUR 101,862.17 103,636.89 0.08
CA IMMOB.ANLAGEN AG 12,133.59 EUR 69,037.35 95,855.38 0.07
CAMFIN 25,108.95 EUR 36,377.07 7,695.89 0.01
CAMPARI AZ/POST FRAZIONAMENTO 3,791.75 EUR 21,773.99 27,660.80 0.02
CARL ZEISS MEDITEC AG 2,527.83 EUR 24,837.76 31,496.78 0.02
CAT OIL AG 3,370.44 EUR 22,247.53 23,660.51 0.02
C.I.R.CIE INDUSTRIALI RIUNITE 69,175.80 EUR 145,414.18 125,554.09 0.09
CITYCON OYJ 35,762.08 EUR 64,527.28 105,140.51 0.08
CNP ASSURANCES 1,174.60 EUR 97,102.89 79,590.84 0.06
CNP SA 10,111.33 EUR 461,394.19 376,141.38 0.28
COFIDE CIA FIN.DE BENEDETTI 43,835.97 EUR 47,616.89 28,931.74 0.02
CONSTR. AUXIL. FERROCAR. 227.50 EUR 68,333.40 85,564.58 0.06
CONWERT IMMOBILIEN INV SE 8,426.11 EUR 39,542.67 71,958.95 0.05
CORIO NV 9,872.03 EUR 473,698.94 470,796.91 0.36
CORP FIN ALBA/SPLIT ISSUE 3,960.27 EUR 144,915.55 144,747.86 0.11
CREDIT AGRICOLE SA PARIS 46,343.58 EUR 539,787.95 572,806.69 0.44
CRITERIA CAIXACORP SA 139,030.75 EUR 480,142.34 458,106.32 0.34
DCC 1,685.22 EUR 30,673.31 32,777.55 0.02
DE LONGHI SPA 6,299.36 EUR 28,543.12 19,921.72 0.01
DEA CAPITAL SPA 21,907.88 EUR 36,893.71 27,647.74 0.02
The accompanying notes form an integral part of these financial statements.
101