Sparinvest SICAV Semi Annual Report 2010 R.C.S. Luxembourg B ...

Sparinvest SICAV
SPARINVEST - SECURUS
Statement of Investments (continued) as at June 30, 2010
(expressed in EUR)
Description
UNITRIN INC 242.30 USD 7,354.31 5,141.16 0.01
UNIVERSAL AMERICAN CORP 372.19 USD 4,496.92 4,564.79 0.01
UNUM GROUP 1,860.97 USD 26,171.28 33,295.03 0.06
URS CORP 347.38 USD 10,959.43 11,237.55 0.02
VAIL RESORTS INC 124.06 USD 4,230.96 3,639.08 0.01
VALERO ENER. CORP 345.15 USD 15,165.24 5,077.45 0.01
VALIDUS HOLDINGS 558.29 USD 8,864.48 10,980.99 0.02
VIASAT INC CARLSBAD. CALIF 372.19 USD 6,115.30 10,046.18 0.02
VIRGIN MEDIA INC 992.52 USD 11,059.69 13,548.68 0.02
VISA INC A 285.35 USD 12,529.15 16,632.75 0.03
VOLT INFORMATION SCIENCES INC 310.16 USD 2,678.69 2,200.45 -
WALTER INV MGMT/WHEN ISSUED 434.23 USD 4,037.27 5,902.76 0.01
WARNACO GROUP INC 86.85 USD 3,028.27 2,565.77 -
WARNER CHILCOTT PLC SHS 496.26 USD 9,621.19 9,424.99 0.02
WATSON PHARMACEUTICALS INC 496.26 USD 12,315.83 16,612.11 0.03
WEBSTER FINANCIAL (CONN) 707.17 USD 7,153.06 10,731.81 0.02
WELLCARE HEALTH PLANS INC 161.28 USD 4,363.87 3,059.18 0.01
WELLPOINT INC 1,451.56 USD 47,282.58 58,486.05 0.09
WEST PHARMACEUTICAL SERVICES 161.28 USD 5,116.85 4,774.21 0.01
WESTERN DIGITAL CORP 508.67 USD 12,460.68 12,667.90 0.02
WHITE MOUNTAINS INSURANCE GRP 136.47 USD 26,859.39 36,655.70 0.06
WHITING PETROLEUM CORP 86.85 USD 5,225.98 5,658.44 0.01
WINDTRUST FINANCIAL CORP 591.79 USD 13,563.62 16,697.29 0.03
WOORI FINANCIAL HLDGS/ADR 434.23 USD 13,536.62 12,598.70 0.02
XL CAPITAL LTD -A- 1,054.55 USD 13,273.36 13,767.71 0.02
ZIMMER HOLDINGS INC 248.13 USD 10,608.12 11,015.39 0.02
ZIONS BANCORP 868.45 USD 16,522.79 15,707.65 0.03
Page
148
4,145,876.79
4,446,027.70 7.60
Total - Shares 14,128,868.60 14,241,460.05 24.37
Bonds
Quantity /
Face value
Currency
Cost Market Value % net assets
EUR
ALLIANZ FIN. 4.375% (TV) 05-PERP 22,195.42 EUR 19,890.98 19,218.57 0.03
AMERIC INTL 8% (TV) 08-22.05.38 REGS 52,353.13 EUR 22,062.48 38,882.69 0.07
AMER.INTL GRP 4.375% 06-26.04.16 66,586.27 EUR 37,954.17 56,681.56 0.10
AXA SA 5.777% (FRN) 06-PERP 110,977.12 EUR 104,945.97 85,174.94 0.15
BAYER AG 5% (TV) 05-PERP 27,744.28 EUR 25,920.56 26,628.68 0.05
BCM IRELAND FRN 06-15.02.17/PIK 39,967.44 EUR 29,959.23 8,253.09 0.01
BELGIUM 4% 07-28.03.13 S.50 195,130.64 EUR 199,813.77 208,516.60 0.36
BOATS INV.11% 07-31.03.17/PIK 139,608.35 EUR 141,818.49 151,153.72 0.26
C GERAL DEPOSITOS FRN 02-PERP 27,744.28 EUR 28,458.31 21,917.98 0.04
CCBP 9.25% 09-PERP 55,488.56 EUR 50,772.03 51,604.36 0.09
CLERICAL MEDICAL 4.25% 05-PERP 44,390.85 EUR 39,453.25 31,339.94 0.05
CLERI.MED. 6.45% 01-05.07.23 EMTN 195,319.73 EUR 162,093.18 171,718.60 0.29
COMMZBK CAP. 5.012% (TV) 06-PERP 49,939.70 EUR 44,155.69 26,546.07 0.05
DSK BK 2.5% 09-21.09.10 4,000,000.00 EUR 3,995,120.00 4,010,200.00 6.85
EDCON HLDGS FRN 07-15.06.15 REGS 164,476.08 EUR 103,264.95 104,236.72 0.18
EDCON PROP.TV 07-15.06.14 REGS 26,176.56 EUR 22,817.87 18,618.08 0.03
ELM BV 5.252% (FRN) 06-PERP 77,683.98 EUR 68,152.30 63,681.45 0.11
The accompanying notes form an integral part of these financial statements.