Portfolio Update

THE EUROPEAN INVESTMENT TRUST PLC

PORTFOLIO HOLDINGS AS AT 31 JULY 2016

				% of
Rank	Company	Sector	Country	Net Assets

1	PostNL	Industrials	Netherlands	4.4
2	Royal Dutch Shell A	Oil & Gas	Netherlands	4.1
3	DIA	Consumer Services	Spain	3.9
4	Roche*	Health Care	Switzerland	3.8
5	Sanofi	Health Care	France	3.7
6	Total	Oil & Gas	France	3.7
7	E.ON	Utilities	Germany	3.7
8	Bayer	Basic Materials	Germany	3.6
9	Ubisoft Entertainment	Consumer Goods	France	3.6
10	BNP Paribas	Financials	France	3.5
11	Stora Enso	Basic Materials	Finland	3.5
12	ENI	Oil & Gas	Italy	3.5
13	Novartis	Health Care	Switzerland	3.5
14	Nokia	Technology	Finland	3.2
15	Leoni	Industrials	Germany	3.2
16	Ipsos	Consumer Services	France	3.1
17	Swedbank A	Financials	Sweden	2.8
18	Adecco	Industrials	Switzerland	2.7
19	BBVA	Financials	Spain	2.7
20	Ryanair	Consumer Services	Ireland	2.6
21	Rocket Internet	Financials	Germany	2.5
22	Michelin	Consumer Goods	France	2.5
23	Prysmian	Industrials	Italy	2.4
24	SAP	Technology	Germany	2.4
25	DNB	Financials	Norway	2.4
26	ABB	Industrials	Switzerland	2.3
27	TDC	Telecommunications	Denmark	2.3
28	Hexagon B	Technology	Sweden	2.2
29	Telecom Italia	Telecommunications	Italy	2.2
30	Outotec	Industrials	Finland	2.2
31	Commerzbank	Financials	Germany	2.1
32	GAM	Financials	Switzerland	2.0
33	Unipol	Financials	Italy	1.7
34	Delta Lloyd	Financials	Netherlands	1.7
35	Piaggio	Consumer Goods	Italy	1.6
36	Petroleum Geo-Services	Oil & Gas	Norway	1.4

	Total equity investments			102.7
	Cash and other net liabilities			(2.7)

	Net assets			100.0


	* The investment is in non-voting shares

GEOGRAPHICAL DISTRIBUTION

31 July 2016	% of Net Assets

France	20.1
Germany	17.5
Switzerland	14.3
Italy	11.4
Netherlands	10.2
Finland	8.9
Spain	6.6
Sweden	5.0
Norway	3.8
Ireland	2.6
Denmark	2.3
Cash and other net liabilities	(2.7)
	100.0

SECTOR DISTRIBUTION

31 July 2016	% of Net Assets

Financials	21.4
Industrials	17.2
Oil & Gas	12.7
Health Care	11.0
Consumer Services	9.6
Technology	7.8
Consumer Goods	7.7
Basic Materials	7.1
Telecommunications	4.5
Utilities	3.7
Cash and other net liabilities	(2.7)
	100.0