Dear Valued Client: This annual statement contains important information about your investment. The UBS PaineWebber Unit Trust thanks you for making this Growth Stock Trust a part of your financial plan. If you have any questions, your Financial Advisor is there to help. You may also call the Trustee at 1-800-356-2754. The Sponsor has created over $8 Billion in Unit Trust Investments since 1966 and created the first Growth Stock Series back in 1986. The dependability and professional selection that you enjoyed in this Fund are also available in our other types of sponsored and co-sponsored unit trusts. For additional information, consult your Financial Advisor or visit: www.ubspw.com/uit. Distribution(s) from the Income Account Year paid: 1998 0.04585 1999 0.05901 2000 0.05621 2001 0.01808 Distribution(s) from the Capital Account Year paid: 1998 2.06144 1999 3.04775 2000 3.16434 2001 0.17963 UBS PaineWebber Equity Trust, Growth Stock, Series 21 (Power Grab) Investment Objective To provide for capital appreciation through an investment in equity stocks which have, in the Sponsor s opinion on the Date of Deposit, an above-average potential for capital appreciation. Year-End Per Unit Values As of December 31, 2001: Net Asset Value $6.32430 Fund Performance* Since Trust Inception (01/08/98): Total Return +49.65% Average Annualized Total Return +10.66% One Year Ended (12-31-01): Total Return -7.48% * Total return calculations assume units were purchased at original offering price including maximum sales charge. One year performance is gross return. Calculations do not assume any reinvestment of distributions. Past performance is not indicative of future results. The information presented on page one of this statement was prepared by the Sponsor. The Trustee cannot make any representation as to the completeness or accuracy of the Sponsor s information. This information is provided to holders of this Series, and is not authorized for distribution to prospective investors.
01091 UBS EQUITY TRUST GROWTH STOCK SERIES 21 2001 Annual Report Income Account Summary Balance, January 1, 2001... $ 0.00 Income received Interest... $ 0.00 Dividends.... 297,963.72 Other... 145.60 298,109.32 Expenses paid Trustee fee and expenses... $(81,546.24) Evaluator fee... 0.00 Sponsor fee... (18,506.85) Other... (24,050.54) (124,103.63) 4. Plus Balance in account as of close of preceeding year Received... $ 34,381.63 Repaid.... (76,293.96) (41,912.33) Transfersfrom(to)capitalcash... 0.00 PurchasedInterest... 0.00 Availablefordistribution... $132,093.36 Distributions paid Tounitholders... $(84,985.78) On redemption of units... (6,383.60) (91,369.38) Balance, December 31, 2001... $ 40,723.98 Incomecashperunit... $.0095 Distribution(s) from the Income Account Date Paid Amount Per Unit 04/01... $31,202.55 $.00620 07/01... 13,672.54.00290 10/01... 40,110.69.00898 $84,985.78 $0.01808
Capital Account Summary Balance, January 1, 2001... $ (792.37) Proceeds received from portfolio transactions... 8,550,872.78 Receipts from Supplemental Deposits.... 84,937.60 Funds used for purchase of securities.... (1,013,900.29) Redemption of 1,018,000 units.... (6,785,318.60) Transfer from (to) income cash... 0.00 Availablefordistribution... $ 835,799.12 Distributions... (837,720.17) Distributions to Sponsor for Creation and Development Fee... 0.00 Distributions to Sponsor for Deferred Sales Charge... 0.00 Balance, December 31, 2001.... $ (1,921.05) Capitalcashperunit... $-0.0004 Distribution(s) from the Capital Account Date Paid Amount Per Unit 07/01... $554,586.63 $.11763 09/01... 283,133.54.06200 $837,720.17 $0.17963 Cash Capital Changes Date Share Amount Proceeds Transaction 04/26/01 Johnson & Johnson... 0.134 $ 12.26 Saleoffractional share 04/27/01 Johnson & Johnson... 863.000 79,833.46 SaleperTrustIndenture 06/01/01 MCN Energy Group Inc... 17,452.000 475,160.21 Sale per Trust Indenture 08/07/01 RiverstoneNetworksInc... 21,280.000 283,174.16 Sale per Trust Indenture 08/15/01 RiverstoneNetworksInc... 0.312 5.75 Saleoffractional share $838,185.84 Non-Cash Capital Changes Date Share Amount Transaction 01/12/01 Online, Inc.)... 114,847.000 Name Change: Formerly America Online, Inc. 04/19/01 Johnson & Johnson... 863.134 Merger: Received.0307 shares for each share Heartport, Inc. held 05/14/01 Southtrust Corp... 16,424.000 2:1Stocksplit 05/31/01 StateStreetCorp... 11,793.000 2:1 Stock split 06/21/01 Cardiogenesis Corporation (Formerly Eclipse Surgical Technology, Inc.)... 47,916.000 Name Change: Formerly Eclipse Surgical Technology, Inc.
Non-Cash Capital Changes (Continued) Date Share Amount Transaction 08/06/01 Enterasys Networks Inc. (Formerly Cabletron Systems)... 41,863.000 Name Change: Formerly Cabletron Systems 08/06/01 RiverstoneNetworksInc... 21,280.309 Spinoff:Received.5131 shares for each share Enterasys Networks, Inc. held Portfolio Transactions January 11 January 19 February 6 Online,Inc.)... 0 0.00 802 36,770.47 1,123 56,698.37 AlkermesInc... 539 12,531.33 465 12,787.07 652 17,114.42 AmericaOnlineInc... 928 35,930.96 0 0.00 0 0.00 Bemis Co... 133 3,999.84 115 3,451.32 160 5,279.82 Cabletron Systems Inc... 381 5,743.38 329 5,699.73 461 10,579.59 CatalinaMarketingCorp... 385 12,516.89 333 10,389.25 466 14,995.37 CenturyTel Inc... 252 9,578.83 217 8,207.75 304 9,633.43 Church&DwightInc... 398 8,263.20 344 7,787.03 481 11,635.00 CloroxCo... 149 4,965.26 129 4,202.03 180 6,265.59 Credence Systems Corp... 431 11,286.43 372 10,276.15 521 13,219.93 EclipseSurgicalTechInc... 431 484.86 372 488.23 521 748.91 Energy East Corp... 340 6,230.29 294 5,405.74 411 7,500.49 Fleet Boston Financial Corp... 157 6,320.99 136 5,671.01 190 8,162.12 Genus Inc... 722 1,218.33 623 1,829.99 873 2,973.51 Genzyme Transgenics Corp... 543 5,463.75 469 5,920.93 656 9,265.69 Golden State Bancorp... 166 4,504.67 143 3,674.97 200 5,539.81 Harnischfeger Industries Inc... 153 13.76 132 13.19 185 25.89 HeartportCo... 240 374.98 208 415.98 291 754.74 IdacorpInc... 157 6,576.12 136 5,526.51 190 7,751.74 Knight Ridder... 104 6,104.59 90 5,215.32 125 7,286.00 LTXCorp... 1,169 17,096.06 1,009 16,206.51 1,413 25,168.22 MCN Energy Group Inc... 153 4,084.96 132 3,474.78 185 4,985.58 MellonFinancialCorp... 191 9,193.95 165 7,808.36 230 10,731.44 Nextel Communications Inc... 448 10,975.63 387 12,383.58 541 19,069.61 NiSourceInc... 232 6,556.68 200 5,377.32 280 7,545.74 Nuevo Energy Co... 153 2,564.57 132 2,196.07 185 3,274.39 Peoplesoft Co... 333 13,194.69 288 13,751.54 403 17,378.80 PfizerInc... 379 15,851.15 327 13,574.13 458 20,490.23 Readers Digest Association Inc... 240 9,317.68 208 8,036.33 291 9,948.95 St Jude Medical Inc... 182 9,955.06 158 8,859.55 220 13,694.54 Schering-Plough Corp... 182 9,522.83 157 8,332.50 220 11,144.82 Southtrust Corp... 143 5,746.61 123 4,935.21 173 7,546.87 StateStreetCorp... 104 11,746.40 90 10,538.64 125 14,080.78 Sunbeam Corp... 141 63.44 122 77.77 170 78.19 TexasBiotechCorp... 970 8,778.20 838 7,633.92 1,173 11,483.28 Unocal Corp... 153 5,528.85 132 4,571.99 185 6,256.49 Veritas DGC Inc... 170 4,724.14 147 4,343.70 205 5,993.99 CNH Global NV... 223 1,995.78 193 1,642.85 270 2,508.21 Total Proceeds... $289,005.14 $267,477.42 $386,810.55 PerUnit... $ 0.05466 $ 0.05099 $ 0.07425
Portfolio Transactions (Continued) January 11 January 19 February 6 Units outstanding... 5,287,670 5,245,670 5,209,670 February 23 March 12 March 22 Online,Inc.)... 662 31,582.96 1,343 62,393.69 764 29,894.32 AlkermesInc... 384 12,335.58 780 22,357.95 444 10,433.65 Bemis Co... 95 3,320.13 192 6,731.29 109 3,608.86 Cabletron Systems Inc... 272 4,120.66 552 7,793.97 314 3,516.68 CatalinaMarketingCorp... 275 9,459.68 558 19,172.23 317 10,495.51 CenturyTel Inc... 179 5,190.82 364 10,391.85 207 5,543.27 Church&DwightInc... 284 6,159.75 576 12,976.84 327 6,974.67 CloroxCo... 106 3,907.02 216 7,408.55 123 3,945.70 Credence Systems Corp... 307 7,156.70 624 16,535.44 355 7,410.38 EclipseSurgicalTechInc... 307 575.61 624 682.44 355 510.29 Energy East Corp... 242 4,280.83 492 9,027.89 280 4,944.63 Fleet Boston Financial Corp... 112 4,618.72 228 9,133.37 130 4,625.24 Genus Inc... 515 1,271.33 1,044 3,099.21 594 1,392.11 Genzyme Transgenics Corp... 387 3,845.68 785 4,906.08 447 2,318.73 Golden State Bancorp... 118 3,181.17 240 6,650.17 136 3,636.51 Harnischfeger Industries Inc... 109 8.71 222 14.42 126 7.55 HeartportCo... 171 443.50 348 913.46 198 519.73 IdacorpInc... 112 4,255.85 228 8,602.15 130 4,548.54 Knight Ridder... 74 4,428.01 150 8,864.70 85 4,611.09 LTXCorp... 833 12,130.15 1,691 29,380.15 962 14,008.66 MCN Energy Group Inc... 109 2,547.24 222 5,527.61 126 3,125.95 MellonFinancialCorp... 136 6,472.02 276 12,723.17 157 6,206.00 Nextel Communications Inc... 319 6,878.21 648 15,267.99 368 5,105.82 NiSourceInc... 165 4,667.69 335 9,600.77 191 5,662.96 Nuevo Energy Co... 109 1,903.07 222 3,869.33 126 2,146.96 Peoplesoft Co... 238 9,043.69 482 12,742.45 274 5,411.31 PfizerInc... 270 12,335.88 548 22,987.83 312 11,668.41 Readers Digest Association Inc... 171 5,394.86 348 11,744.60 198 5,555.69 St Jude Medical Inc... 130 7,617.74 264 14,796.70 150 7,072.26 Schering-Plough Corp... 130 5,583.31 264 9,912.86 150 5,272.32 Southtrust Corp... 102 4,373.10 207 9,379.37 118 5,169.70 StateStreetCorp... 74 7,440.45 150 15,366.98 85 7,422.80 Sunbeam Corp... 100 10.49 204 8.90 116 3.12 TexasBiotechCorp... 691 6,149.69 1,403 9,077.10 798 4,309.05 Unocal Corp... 109 4,071.01 222 8,349.14 126 4,479.15 Veritas DGC Inc... 121 3,625.03 246 9,704.37 140 4,451.85 CNH Global NV... 159 1,442.08 323 2,600.06 184 1,361.55 Total Proceeds... $211,828.42 $420,695.08 $207,371.02 PerUnit... $ 0.04106 $ 0.08203 $ 0.04092 Units outstanding... 5,158,670 5,128,670 5,067,670
Portfolio Transactions (Continued) April 3 April 16 April 30 Online,Inc.)... 768 31,294.95 804 33,011.13 1,137 54,635.68 AlkermesInc... 446 9,895.30 467 12,281.69 660 17,172.62 Bemis Co... 110 3,625.47 115 4,016.81 162 5,843.14 Cabletron Systems Inc... 315 3,902.71 330 4,438.35 467 6,463.06 CatalinaMarketingCorp... 319 10,383.10 334 11,425.75 472 16,576.08 CenturyTel Inc... 208 6,031.79 218 6,389.36 308 8,642.19 Church&DwightInc... 329 6,889.02 344 8,444.91 487 11,760.65 CloroxCo... 123 3,868.22 129 3,993.70 183 5,727.70 Credence Systems Corp... 357 7,920.67 373 7,329.20 528 11,774.00 EclipseSurgicalTechInc... 357 368.12 373 354.33 528 807.81 Energy East Corp... 281 4,951.05 294 5,959.18 416 8,132.52 Fleet Boston Financial Corp... 130 4,834.53 136 5,317.42 193 7,391.65 Genus Inc... 597 2,164.05 625 1,906.18 884 2,651.91 Genzyme Transgenics Corp... 449 2,764.03 470 2,749.40 665 3,790.37 Golden State Bancorp... 137 3,787.92 144 4,085.14 203 5,884.77 Harnischfeger Industries Inc... 127 6.02 133 8.64 188 15.03 HeartportCo... 199 522.36 208 569.90 0 0.00 IdacorpInc... 130 4,883.93 136 5,472.45 193 7,547.97 Knight Ridder... 86 4,648.14 90 4,790.54 127 6,794.27 LTXCorp... 967 18,311.94 1,012 19,277.95 1,432 35,155.71 MCN Energy Group Inc... 127 3,209.18 133 3,560.29 188 4,957.39 MellonFinancialCorp... 158 6,334.00 165 6,517.28 234 9,612.39 Nextel Communications Inc... 370 5,480.44 388 6,002.15 548 8,712.90 NiSourceInc... 192 5,769.40 201 6,463.94 284 8,528.23 Nuevo Energy Co... 127 2,236.39 133 2,388.60 188 3,233.49 Peoplesoft Co... 276 6,054.54 289 8,068.61 408 12,390.54 PfizerInc... 313 12,651.03 328 13,421.31 464 18,870.25 Readers Digest Association Inc... 199 5,368.84 208 5,572.13 295 8,135.82 St Jude Medical Inc... 151 7,924.21 158 8,278.92 223 12,304.72 Schering-Plough Corp... 151 5,737.80 158 5,700.44 223 8,277.48 Southtrust Corp... 118 5,243.45 124 5,612.05 175 8,117.97 StateStreetCorp... 86 7,909.15 90 8,521.81 127 12,794.82 Sunbeam Corp... 117 4.67 122 4.38 173 5.18 TexasBiotechCorp... 802 3,881.54 840 4,493.84 1,188 6,236.79 Unocal Corp... 127 4,289.91 133 4,741.29 188 6,955.76 Veritas DGC Inc... 141 3,992.98 147 4,836.13 208 6,263.73 CNH Global NV... 185 1,180.26 193 1,047.95 274 1,602.84 Total Proceeds... $218,321.11 $237,053.15 $353,767.43 PerUnit... $ 0.04338 $ 0.04743 $ 0.07131 Units outstanding... 5,032,670 4,997,670 4,960,670 May 16 May 31 June 8 Online,Inc.)... 783 40,330.98 992 53,516.61 1,673 87,915.55 AlkermesInc... 454 13,029.36 576 17,601.97 971 34,061.54 Bemis Co... 112 4,324.17 142 5,414.27 239 9,406.72 Cabletron Systems Inc... 321 5,418.29 407 8,257.75 687 14,000.59 CatalinaMarketingCorp... 325 10,438.65 412 14,415.39 695 23,399.86 CenturyTel Inc... 212 5,825.56 269 7,504.84 453 12,891.94 Church&DwightInc... 335 8,274.22 425 10,900.88 717 19,214.95 CloroxCo... 126 4,220.85 159 5,397.86 269 9,697.12
Portfolio Transactions (Continued) May 16 May 31 June 8 Credence Systems Corp... 363 8,602.81 461 11,192.70 777 17,683.93 EclipseSurgicalTechInc... 363 784.05 461 1,362.21 777 2,027.90 Energy East Corp... 286 5,748.40 363 7,315.80 612 12,661.85 Fleet Boston Financial Corp... 133 5,248.00 168 7,022.16 284 11,865.12 Genus Inc... 608 3,307.40 771 5,535.59 1,300 8,761.70 Genzyme Transgenics Corp... 458 3,402.82 580 4,964.63 978 7,295.63 Golden State Bancorp... 140 4,120.06 177 5,111.58 299 8,751.43 Harnischfeger Industries Inc... 129 7.99 164 2.78 276 3.03 IdacorpInc... 133 5,309.18 168 6,647.53 284 10,962.03 Knight Ridder... 87 4,768.31 111 6,161.40 187 10,265.95 LTXCorp... 985 26,948.70 1,249 33,946.68 2,106 58,944.97 MCN Energy Group Inc... 129 3,426.12 164 4,493.44 0 0.00 MellonFinancialCorp... 161 6,869.64 204 9,465.28 343 15,905.78 Nextel Communications Inc... 377 6,822.72 478 8,324.81 807 13,266.63 NiSourceInc... 195 5,879.05 248 7,479.43 418 12,957.56 Nuevo Energy Co... 129 2,374.81 164 3,361.88 276 5,566.73 Peoplesoft Co... 281 10,464.09 356 15,873.51 601 26,875.82 PfizerInc... 319 13,764.39 405 16,937.54 683 29,371.63 Readers Digest Association Inc... 203 5,765.00 257 7,511.85 433 12,521.94 St Jude Medical Inc... 154 9,539.98 195 11,767.85 329 20,713.14 Schering-Plough Corp... 154 6,058.15 195 8,109.77 329 14,311.02 Southtrust Corp... 121 5,691.65 306 7,444.73 515 12,792.17 StateStreetCorp... 87 9,200.81 111 12,410.49 373 20,357.66 Sunbeam Corp... 119 1.78 151 10.87 254 1.77 TexasBiotechCorp... 818 6,259.61 1,036 8,412.03 1,748 14,234.01 Unocal Corp... 129 4,735.43 164 6,261.31 276 10,788.47 Veritas DGC Inc... 143 4,854.68 182 6,406.18 306 11,476.72 CNH Global NV... 188 1,067.80 239 1,617.97 402 2,468.19 Total Proceeds... $262,885.51 $348,161.57 $583,421.05 PerUnit... $ 0.05357 $ 0.07147 $ 0.12087 Units outstanding... 4,907,670 4,871,670 4,826,670 June 13 July 13 August 8 Online,Inc.)... 783 40,009.96 1,276 65,775.60 948 43,843.53 AlkermesInc... 454 15,907.62 741 23,496.32 550 14,849.50 Bemis Co... 112 4,446.25 182 7,348.91 135 5,929.00 Cabletron Systems Inc... 322 6,494.52 524 11,520.33 0 0.00 Cardiogenesis Corporation (Formerly Eclipse Surgical Technology, Inc.)... 0 0.00 592 479.50 440 435.58 CatalinaMarketingCorp... 325 10,643.39 530 15,704.64 393 13,287.71 CenturyTel Inc... 212 6,094.79 346 10,656.44 257 7,951.31 Church&DwightInc... 335 8,759.95 547 13,537.79 406 10,271.45 CloroxCo... 126 4,384.65 205 7,201.40 152 5,456.61 Credence Systems Corp... 364 8,895.86 592 12,390.14 440 9,310.08 EclipseSurgicalTechInc... 363 871.17 0 0.00 0 0.00 Energy East Corp... 287 5,739.80 467 10,002.80 347 7,529.64 Enterasys Networks Inc. (Formerly Cabletron Systems)... 0 0.00 0 0.00 389 7,950.89 Fleet Boston Financial Corp... 133 5,220.07 216 8,065.17 161 6,125.84 Genus Inc... 609 3,702.59 992 5,455.81 737 4,200.75 Genzyme Transgenics Corp... 458 4,039.42 746 6,310.94 554 3,052.43 Golden State Bancorp... 140 4,247.45 228 7,058.64 169 5,647.79
Portfolio Transactions (Continued) June 13 July 13 August 8 Harnischfeger Industries Inc... 129 1.54 211 5.27 0 0.00 IdacorpInc... 133 4,993.98 216 8,065.17 161 6,080.76 Knight Ridder... 87 4,832.68 142 8,292.52 106 6,638.55 LTXCorp... 986 31,225.57 1,606 35,356.84 1,193 24,742.11 MellonFinancialCorp... 161 7,354.23 262 11,619.31 195 7,476.05 Nextel Communications Inc... 378 5,756.74 615 9,550.63 457 7,439.71 NiSourceInc... 195 5,639.21 319 8,797.72 237 6,386.93 Nuevo Energy Co... 129 2,547.66 211 3,314.69 156 2,644.11 Peoplesoft Co... 281 13,085.73 458 19,839.89 340 14,571.91 PfizerInc... 320 13,983.53 521 21,292.55 387 15,789.07 Readers Digest Association Inc... 203 5,896.95 330 9,322.18 245 5,438.81 St Jude Medical Inc... 154 9,462.98 251 15,473.63 186 12,126.79 Schering-Plough Corp... 154 6,567.88 251 9,264.10 186 7,140.30 Southtrust Corp... 241 5,882.61 393 9,816.81 292 7,422.39 StateStreetCorp... 175 9,318.43 285 14,263.77 211 11,391.50 Sunbeam Corp... 119 1.66 194 4.84 144 5.03 TexasBiotechCorp... 818 7,214.51 1,333 10,996.88 990 7,672.24 Unocal Corp... 129 4,798.63 211 7,070.37 156 5,512.85 Veritas DGC Inc... 143 4,983.38 233 6,561.06 173 2,745.41 CNH Global NV... 188 1,225.71 307 1,811.23 228 1,789.73 Total Proceeds... $274,231.10 $415,723.89 $298,856.36 PerUnit... $ 0.05771 $ 0.08818 $ 0.06418 Units outstanding... 4,751,670 4,714,670 4,656,670 August 27 September 21 September 27 Online,Inc.)... 1,059 42,274.58 1,363 42,387.88 1,161 37,661.58 AlkermesInc... 615 17,043.00 791 16,373.15 674 12,738.17 Bemis Co... 151 6,662.01 195 7,511.14 166 6,199.89 Cardiogenesis Corporation (Formerly Eclipse Surgical Technology, Inc.)... 491 584.63 633 632.97 539 528.20 CatalinaMarketingCorp... 440 14,723.66 566 17,205.82 482 13,355.77 CenturyTel Inc... 287 10,016.16 369 11,910.92 315 9,758.37 Church&DwightInc... 454 12,139.32 584 15,563.08 497 13,135.27 CloroxCo... 170 6,435.86 219 8,420.26 187 6,744.86 Credence Systems Corp... 491 8,603.57 633 8,722.44 539 6,634.86 Energy East Corp... 387 7,987.71 499 9,934.75 425 8,142.72 Enterasys Networks Inc. (Formerly Cabletron Systems)... 435 4,229.87 560 4,395.85 477 3,276.87 Fleet Boston Financial Corp... 180 6,902.94 231 8,073.18 197 6,837.64 Genus Inc... 823 2,585.48 1,059 2,223.82 902 1,632.56 Genzyme Transgenics Corp... 619 3,006.90 797 3,307.43 679 2,349.26 Golden State Bancorp... 189 6,147.05 243 7,362.65 207 5,882.74 IdacorpInc... 180 6,970.66 231 8,726.88 197 7,180.41 Knight Ridder... 118 7,259.05 152 8,683.47 130 7,320.05 LTXCorp... 1,333 23,990.15 1,715 22,537.08 1,461 17,312.27 MellonFinancialCorp... 217 8,159.92 280 9,220.09 238 7,418.21 Nextel Communications Inc... 510 6,033.99 657 6,352.97 560 5,375.82 NiSourceInc... 264 6,861.04 340 8,163.12 290 6,629.17 Nuevo Energy Co... 175 3,005.50 225 3,950.86 192 2,841.50 Peoplesoft Co... 380 13,766.91 489 11,422.65 417 8,719.17 PfizerInc... 432 17,510.49 556 21,082.81 474 16,807.47 Readers Digest Association Inc... 274 5,433.88 353 6,085.51 301 5,270.33
Portfolio Transactions (Continued) August 27 September 21 September 27 St Jude Medical Inc... 208 14,040.48 268 17,422.09 228 13,761.62 Schering-Plough Corp... 208 8,163.87 268 9,754.87 228 7,706.14 Southtrust Corp... 326 8,777.86 420 9,357.28 358 8,337.54 StateStreetCorp... 236 12,058.56 304 12,995.56 259 10,878.98 Sunbeam Corp... 161 6.63 207 8.27 176 5.27 TexasBiotechCorp... 1,106 7,765.11 1,423 8,321.57 1,213 6,610.62 Unocal Corp... 175 6,307.91 225 7,761.23 192 5,915.32 Veritas DGC Inc... 194 2,939.67 249 3,264.28 212 2,660.51 CNH Global NV... 255 1,978.72 328 2,053.21 279 1,646.04 Total Proceeds... $310,373.14 $341,189.14 $277,275.20 PerUnit... $ 0.06727 $ 0.07471 $ 0.06157 Units outstanding... 4,613,670 4,566,670 4,503,670 October 17 November 2 November 20 Online,Inc.)... 887 30,554.18 858 26,416.93 1,117 42,109.49 AlkermesInc... 515 11,576.81 498 12,494.40 648 16,977.03 Bemis Co... 127 5,671.63 123 5,479.46 160 7,966.13 Cardiogenesis Corporation (Formerly Eclipse Surgical Technology, Inc.)... 412 313.10 398 517.38 519 607.20 CatalinaMarketingCorp... 368 10,174.86 356 9,802.45 464 13,965.93 CenturyTel Inc... 240 8,165.31 233 7,187.81 303 10,550.10 Church&DwightInc... 380 9,541.48 368 9,552.96 479 12,372.15 CloroxCo... 143 5,140.67 138 4,941.61 179 7,115.01 Credence Systems Corp... 412 5,397.02 398 5,253.42 519 8,760.42 Energy East Corp... 325 6,906.01 314 5,928.12 409 7,778.92 Enterasys Networks Inc. (Formerly Cabletron Systems)... 364 3,177.61 352 2,784.22 459 4,644.92 Fleet Boston Financial Corp... 151 4,892.23 146 4,822.21 189 7,051.35 Genus Inc... 690 1,669.74 667 1,534.04 868 2,048.41 Genzyme Transgenics Corp... 519 2,179.72 502 1,992.87 653 2,389.90 Golden State Bancorp... 158 4,257.95 153 3,826.40 199 5,024.58 IdacorpInc... 150 5,611.31 146 5,476.27 189 7,225.22 Knight Ridder... 99 5,565.59 96 5,480.45 125 7,750.99 LTXCorp... 1,117 15,693.32 1,080 16,113.06 1,406 30,902.84 MellonFinancialCorp... 182 5,920.26 176 5,973.24 229 8,541.41 Nextel Communications Inc... 428 3,706.35 414 3,287.05 539 5,772.49 NiSourceInc... 222 5,190.18 214 4,898.29 279 5,680.25 Nuevo Energy Co... 147 2,034.41 142 1,959.53 184 2,349.60 Peoplesoft Co... 319 9,040.15 308 8,300.32 401 13,264.63 PfizerInc... 362 14,696.70 350 14,724.00 456 19,511.58 Readers Digest Association Inc... 230 4,103.06 222 3,387.60 289 6,161.27 St Jude Medical Inc... 174 12,109.99 169 11,424.01 219 15,255.03 Schering-Plough Corp... 174 6,455.18 169 6,293.34 219 7,566.19 Southtrust Corp... 273 6,158.67 264 5,847.40 344 8,317.64 StateStreetCorp... 198 8,743.38 192 8,678.11 249 12,872.87 Sunbeam Corp... 135 3.64 130 0.38 169 4.55 TexasBiotechCorp... 927 5,144.67 897 4,888.48 1,167 6,429.95 Unocal Corp... 147 5,040.46 142 4,626.20 184 5,565.81 Veritas DGC Inc... 162 2,258.20 157 2,535.46 204 3,070.09 CNH Global NV... 213 1,075.61 207 1,072.22 269 1,519.79 Total Proceeds... $228,169.45 $217,499.69 $317,123.74
Portfolio Transactions (Continued) October 17 November 2 November 20 PerUnit... $ 0.05108 $ 0.04913 $ 0.07228 Units outstanding... 4,466,670 4,426,670 4,387,670 December 26 Par Value Proceeds Online,Inc.)... 1,144 38,012.02 AlkermesInc... 664 16,665.84 Bemis Co... 163 8,100.82 Cardiogenesis Corporation (Formerly Eclipse Surgical Technology, Inc.)... 531 568.15 CatalinaMarketingCorp... 475 15,555.73 CenturyTel Inc... 310 10,245.15 Church&DwightInc... 490 12,592.57 CloroxCo... 184 7,083.76 Credence Systems Corp... 531 10,088.66 Energy East Corp... 419 7,560.68 Enterasys Networks Inc. (Formerly Cabletron Systems)... 470 4,286.25 Fleet Boston Financial Corp... 194 7,398.91 Genus Inc... 889 2,311.32 Genzyme Transgenics Corp... 669 3,338.19 Golden State Bancorp... 204 5,228.34 IdacorpInc... 194 7,476.51 Knight Ridder... 128 8,199.40 LTXCorp... 1,440 30,987.76 MellonFinancialCorp... 235 8,849.80 Nextel Communications Inc... 551 5,763.26 NiSourceInc... 286 6,434.78 Nuevo Energy Co... 189 2,564.64 Peoplesoft Co... 411 16,694.26 PfizerInc... 467 19,267.77 Readers Digest Association Inc... 296 6,496.98 St Jude Medical Inc... 225 17,054.43 Schering-Plough Corp... 225 8,171.97 Southtrust Corp... 352 8,753.94 StateStreetCorp... 255 13,218.75 Sunbeam Corp... 174 1.73 TexasBiotechCorp... 1,195 8,281.07 Unocal Corp... 189 6,497.60 Veritas DGC Inc... 209 3,563.33 CNH Global NV... 275 1,682.94 Total Proceeds... $328,997.31 PerUnit... $ 0.07585 Units outstanding... 4,337,670
Portfolio of Securities As of December 31, 2001 Par Value Market Value 93,806 Online, Inc.)... $ 3,011,172.60 54,449 AlkermesInc... 1,435,275.64 13,399 Bemis Co... 658,962.82 43,550 Cardiogenesis Corporation (Formerly Eclipse Surgical Technology, Inc.)... 50,953.50 38,948 CatalinaMarketingCorp... 1,351,495.60 25,420 CenturyTel Inc... 833,776.00 40,194 Church&DwightInc... 1,070,366.22 15,073 CloroxCo... 596,137.15 43,550 Credence Systems Corp... 808,723.50 34,332 Energy East Corp... 651,964.68 38,524 Enterasys Networks Inc. (Formerly Cabletron Systems)... 340,937.40 15,912 FleetBostonFinancialCorp... 580,788.00 72,919 Genus Inc... 177,193.17 54,852 Genzyme Transgenics Corp... 319,238.64 16,753 Golden State Bancorp... 438,090.95 16,836 Harnischfeger Industries Inc... 0.00 15,910 IdacorpInc... 645,946.00 10,468 Knight Ridder... 679,687.24 118,084 LTXCorp... 2,472,678.96 19,260 MellonFinancialCorp... 724,561.20 45,231 Nextel Communications Inc... 495,731.76 23,420 NiSource Inc... 540,065.20 15,493 Nuevo Energy Co... 232,395.00 33,679 Peoplesoft Co... 1,353,895.80 38,285 PfizerInc... 1,525,657.25 24,291 Readers Digest Association Inc... 560,636.28 18,425 St Jude Medical Inc... 1,430,701.25 18,420 Schering-Plough Corp... 659,620.20 28,889 Southtrust Corp... 712,691.63 20,940 StateStreetCorp... 1,094,115.00 14,235 Sunbeam Corp... 725.99 97,983 TexasBiotechCorp... 636,889.50 15,493 Unocal Corp... 558,832.51 17,169 Veritas DGC Inc... 317,626.50 22,569 CNH Global NV... 137,445.21 Total... $27,104,978.35 2001 Year End Summary Units outstanding at year end... 4,285,670 Year end unit value: Portfolio securities... $ 6.3245 Otherassets,net... -0.0002 $ 6.3243
CUSIP 695904425 01091 BANK &TRUST COMPANY P.O. Box 9130 Boston, Massachusetts 02117 INVESTORS GROWTH STOCK SERIES 21 2001 ANNUAL REPORT Sponsor: UBS PaineWebber Incorporated 1285 Avenue of the Americas New York, New York 10019 www.ubspw.com/uit PERMIT No. 903 NEWARK, N.J. PAID U.S. POSTAGE FIRST CLASS MAIL Trustee: Investors Bank & Trust Company P.O. Box 9130 Boston, Massachusetts 02117 (800) 356-2754