Portfolio Holdings as at 31 December 2019

EP GLOBAL OPPORTUNITIES TRUST PLC

PORTFOLIO HOLDINGS AS AT 31 DECEMBER 2019

Rank	Company	Sector	Country	% of Net Assets

1	Roche *	Health Care	Switzerland		3.8
2	AstraZeneca	Health Care	United Kingdom		3.3
3	Novartis	Health Care	Switzerland		3.2
4	Vodafone	Communication Services	United Kingdom		3.1
5	Sanofi	Health Care	France		3.0
6	Verizon Communications	Communication Services	United States		2.9
7	Tesco	Consumer Staples	United Kingdom		2.9
8	Sony	Consumer Discretionary	Japan		2.8
9	Singapore Telecommunications	Communication Services	Singapore		2.8
10	Galaxy Entertainment	Consumer Discretionary	Hong Kong		2.7
11	Sumitomo Mitsui Trust	Financials	Japan		2.6
12	BNP Paribas	Financials	France		2.6
13	Sumitomo Mitsui Financial	Financials	Japan		2.6
14	ING	Financials	Netherlands		2.6
15	Royal Dutch Shell A	Energy	Netherlands		2.5
16	Edinburgh Partners Emerging Opportunities Fund	Financials	Other		2.5
17	Total	Energy	France		2.4
18	Orange	Communication Services	France		2.4
19	East Japan Railway	Industrials	Japan		2.4
20	Astellas Pharma	Health Care	Japan		2.3
21	ENI	Energy	Italy		2.3
22	China Mobile	Communication Services	China		2.2
23	BP	Energy	United Kingdom		2.2
24	Bayer	Health Care	Germany		2.2
25	Swire Pacific A	Real Estate	Hong Kong		2.1
26	Panasonic	Consumer Discretionary	Japan		2.1
27	Fresenius Medical Care	Health Care	Germany		2.1
28	Commerzbank	Financials	Germany		2.1
29	Apache	Energy	United States		2.0
30	Samsung SDI	Information Technology	South Korea		2.0
31	Bangkok Bank **	Financials	Thailand		2.0
32	Comsys	Industrials	Japan		2.0
33	BBVA	Financials	Spain		1.9
34	Shanghai Fosun Pharmaceutical H	Health Care	China		1.8
35	Japan Tobacco	Consumer Staples	Japan		1.7
36	Telefonica	Communication Services	Spain		1.7
37	CK Hutchison	Industrials	Hong Kong		1.6
38	Nokia	Information Technology	Finland		1.6
39	Rohm	Information Technology	Japan		0.5

	Total equity investments			91.5
	Cash and other net assets			8.5

	Net assets			100.0


	* The investment is in non-voting shares **The investment is in non-voting depositary receipts

GEOGRAPHICAL DISTRIBUTION

31 December 2019	% of Net Assets

Europe	36.4
Japan	19.0
Asia Pacific	17.2
United Kingdom	11.5
United States	5.0
Other	2.5
Cash and other net assets	8.5
	100.0

SECTOR DISTRIBUTION

31 December 2019	% of Net Assets
Health Care	21.7
Financials	18.8
Communication Services	15.2
Energy	11.5
Consumer Discretionary	7.6
Industrials	6.0
Consumer Staples	4.7
Information Technology	4.1
Real Estate	2.1
Cash and other net assets	8.5
	100.0