Portfolio Holdings as at 31 December 2018

THE EUROPEAN INVESTMENT TRUST PLC

PORTFOLIO HOLDINGS AS AT 31 DECEMBER 2018

				% of
Rank	Company	Sector	Country	Net Assets

1	Roche *	Health Care	Switzerland		4.3
2	Sanofi	Health Care	France		4.2
3	Telefonica	Telecommunications	Spain		3.7
4	Nokia	Technology	Finland		3.7
5	Novartis	Health Care	Switzerland		3.5
6	Royal Dutch Shell **	Oil & Gas	Netherlands		3.4
7	ING	Financials	Netherlands		2.9
8	Getinge	Health Care	Sweden		2.9
9	ENI	Oil & Gas	Italy		2.9
10	Total	Oil & Gas	France		2.9
11	Ahold Delhaize	Consumer Services	Netherlands		2.9
12	E.ON	Utilities	Germany		2.8
13	Deutsche Post	Industrials	Germany		2.8
14	ISS	Industrials	Denmark		2.7
15	Cyfrowy Polsat	Consumer Services	Poland		2.7
16	Nordea Bank	Financials	Sweden		2.6
17	Indra Sistemas	Technology	Spain		2.6
18	PostNL	Industrials	Netherlands		2.6
19	Sopra Steria	Technology	France		2.6
20	Siemens	Industrials	Germany		2.6
21	Gerresheimer	Health Care	Germany		2.5
22	BBVA	Financials	Spain		2.5
23	BNP Paribas	Financials	France		2.5
24	Glanbia	Consumer Goods	Ireland		2.5
25	Orange	Telecommunications	France		2.5
26	Ryanair	Consumer Services	Ireland		2.5
27	Adecco	Industrials	Switzerland		2.3
28	Bayer	Health Care	Germany		2.3
29	Ipsos	Consumer Services	France		2.3
30	Commerzbank	Financials	Germany		2.2
31	Michelin	Consumer Goods	France		2.1
32	Leoni	Industrials	Germany		2.1
33	DNB	Financials	Norway		2.1
34	Rocket Internet	Financials	Germany		2.0
35	Ontex	Consumer Goods	Belgium		2.0
36	Mediobanca	Financials	Italy		2.0
37	Outotec	Industrials	Finland		1.1
38	Petroleum Geo-Services	Oil & Gas	Norway		0.8

	Total equity investments			99.6
	Cash and other net assets			0.4

	Net assets			100.0

	* The investment is in non-voting shares ** The investment is in A shares

GEOGRAPHICAL DISTRIBUTION

Scandinavia (Denmark, Finland, Norway, Sweden)

Benelux (Belgium, Netherlands)

Southern Europe (Italy, Spain)

SECTOR DISTRIBUTION