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ATTITUDE SHERPA, FI

Category
Latest period
H2 2025
Positions
45

Portfolio as of 2025-12-31. Source: periodic filing with the CNMV. View original filing (PDF)

Full portfolio

Every position in the latest periodic filing, largest weight first. Aggregates ("other equities...") are baskets of small positions the filing itself does not break out line by line.

45
Company Type Country Weight Price
ACCIONES|VISCOFAN SA ES0184262212 · EUR Renta Variable Cotizada ES 4.54%
INTERNATIONAL PE NO0013671107 · USD Renta Fija Cotizada Mas 1 Anio NO 3.95%
ACCIONES|INMOBILIARIA COLONIAL SA ES0139140174 · EUR Renta Variable Cotizada ES 3.58% 5.47 EUR
ACCIONES|PLUXEE NL0015001W49 · EUR Renta Variable Cotizada NL 3.33% 15.50 EUR
ACCIONES|SOL MELIA ES0176252718 · EUR Renta Variable Cotizada ES 3.11% 10.13 EUR
ACCIONES|MIQUEL Y COSTAS AND MIQUEL SA ES0164180012 · EUR Renta Variable Cotizada ES 3.01% 13.25 EUR
ACCIONES|EBRO FOODS SA ES0112501012 · EUR Renta Variable Cotizada ES 3.01% 18.30 EUR
ACCIONES|JD.COM INC US47215P1066 · USD Renta Variable Cotizada US 2.88% 29.37 USD
ACCIONES|MATADOR RESOURCES COMPANY US5764852050 · USD Renta Variable Cotizada US 2.84%
ACCIONES|CORTICEIRA AMORIM SGPS SA PTCOR0AE0006 · EUR Renta Variable Cotizada PT 2.81%
ACCIONES|TGS Nopec Geo NO0003078800 · NOK Renta Variable Cotizada NO 2.53% 138.90 NOK
GOLAR LNG LTD USG4023LAD31 · USD Renta Fija Cotizada Mas 1 Anio US 2.47%
ACCIONES|AC.ALANTRA PARTNERS, SA ES0126501131 · EUR Renta Variable Cotizada ES 2.42%
ACCIONES|CIE AUTOMOTIVE SA ES0105630315 · EUR Renta Variable Cotizada ES 2.34%
ACCIONES|PUIG BRANDS SA ES0105777017 · EUR Renta Variable Cotizada ES 2.33%
ACCIONES|PROSEGUR CASH SA ES0105229001 · EUR Renta Variable Cotizada ES 2.30% 0.65 EUR
ACCIONES|YELLOW CAKE PLC JE00BF50RG45 · GBP Renta Variable Cotizada JE 2.22% 585.00 GBp
ACCIONES|ARNOLDO MONDADORI EDITORE SPA IT0001469383 · EUR Renta Variable Cotizada IT 2.21%
ACCIONES|NAVIGATOR PTPTI0AM0006 · EUR Renta Variable Cotizada PT 2.05%
ACCIONES|SEMAPA SOCIEDADE DE INVESTIMENT PTSEM0AM0004 · EUR Renta Variable Cotizada PT 2.05% 20.70 EUR
ACCIONES|GESTAMP AUTOMOCION SA ES0105223004 · EUR Renta Variable Cotizada ES 1.99% 2.92 EUR
ACCIONES|EDENRED FR0010908533 · EUR Renta Variable Cotizada FR 1.98% 29.24 EUR
DNO ASA NO0013511113 · USD Renta Fija Cotizada Mas 1 Anio NO 1.97%
ACCIONES|VERALLIA FR0013447729 · EUR Renta Variable Cotizada FR 1.95% 19.18 EUR
ACCIONES|GLOBAL DOMINION ACCESS SA ES0105130001 · EUR Renta Variable Cotizada ES 1.90% 2.75 EUR
ACCIONES|CRESCENT ENERGY INC A(CRGY US) US44952J1043 · USD Renta Variable Cotizada US 1.68%
ACCIONES|ACC. KOSMOS ENERGY LTD US5006881065 · USD Renta Variable Cotizada US 1.62% 2.96 USD
FACEBOOK INC US30303M8R66 · USD Renta Fija Cotizada Mas 1 Anio US 1.61%
ACCIONES|THE ITALIAN SEA GROUP S.P.A. IT0005439085 · EUR Renta Variable Cotizada IT 1.59%
ACCIONES|BEFESA MEDIO AMBIENTE S.A. LU1704650164 · EUR Renta Variable Cotizada LU 1.54%
ACCIONES|SUN HUNG KAI AND CO LTD HK0086000525 · HKD Renta Variable Cotizada HK 1.43% 4.09 HKD
ACCIONES|NEKKAR ASA (NKR NO) NO0003049405 · NOK Renta Variable Cotizada NO 1.41% 14.75 NOK
ACCIONES|ACERINOX SA ES0132105018 · EUR Renta Variable Cotizada ES 1.33% 17.15 EUR
ACCIONES|IBERPAPEL GESTION SA ES0147561015 · EUR Renta Variable Cotizada ES 1.30%
ACCIONES|CONOCOPHILLIPS US20825C1045 · USD Renta Variable Cotizada US 1.25%
ACCIONES|INSTALCO AB SE0017483506 · SEK Renta Variable Cotizada SE 1.25%
ACCIONES|NOVEM GROUP SA LU2356314745 · EUR Renta Variable Cotizada LU 1.21%
ACCIONES|AJISEN CHINA HOLDINGS LTD KYG0192S1093 · HKD Renta Variable Cotizada KY 1.14% 0.81 HKD
POLAND REPUBLIC US731011AW25 · USD Deuda Publica Cotizada Mas 1 Anio US 1.07%
GOLAR LNG LTD NO0013331223 · USD Renta Fija Cotizada Mas 1 Anio NO 0.89%
PROSUS NV USN7163RAQ67 · USD Renta Fija Cotizada Mas 1 Anio US 0.75%
ORACLE CORP US68389XCV55 · USD Renta Fija Cotizada Mas 1 Anio US 0.71%
PARLEM TELECOM ES0305561005 · EUR Renta Fija Cotizada Mas 1 Anio ES 0.65%
KOSMOS ENERGY LT USU5007TAE56 · USD Renta Fija Cotizada Mas 1 Anio US 0.37%
ACCIONES|KAISA PROSPERITY HOLDINGS LT KYG522441032 · HKD Renta Variable Cotizada KY 0.03% 1.01 HKD

This period's moves

H2 2025 vs H1 2025 (estimated)

New: 15 Exits: 14 Increases: 11 Cuts: 14
+ INTERNATIONAL PE

Enters the portfolio at 3.95% weight.

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+ ACCIONES|INMOBILIARIA COLONIAL SA

Enters the portfolio at 3.58% weight.

Colonial SFL, Socimi S. A. is the leading platform in Europe's prime commercial real estate market, with a presence in the main business districts of Barcelona, Madrid and Paris. It owns a unique portfolio of commercial properties totaling more than 1 million sqm, with a market value exceeding 12.0 billion euros. The Group follows a dedicated long-term strategy focused on value creation through a high-quality client portfolio and asset appreciation. Looking ahead, Colonial SFL will continue to lead the urban transformation of city centres in the European market, recognized for its expertise and professionalism, financial strength and profitability, while delivering outstanding sustainable real estate solutions tailored to client's needs.

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+ ACCIONES|PLUXEE

Enters the portfolio at 3.33% weight.

Pluxee N.V. offers employee benefits and engagement solutions services in France, Latin America, Continental Europe, and internationally. The company provides employee benefits comprising meal, food, gift, mobility, training, insurance, and wellness benefits as well as engagement solutions; health, mental and physical well-being, leisure and culture, hybrid work, training, and uniforms; and other products and services, including rewards and recognition, public benefits, and fuel, fleet and expense management solutions. Its products are distributed through pre-paid cards, unreimbursed cards, digital solutions, paper vouchers. Pluxee N.V. was formerly known as Sodexo Asset Management 2 B.V. and changed its name to Pluxee N.V. in December 2023. The company was incorporated in 2022 and is headquartered in Issy-les-Moulineaux, France.

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+ ACCIONES|MATADOR RESOURCES COMPANY

Enters the portfolio at 2.84% weight.

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+ GOLAR LNG LTD

Enters the portfolio at 2.47% weight.

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+ ACCIONES|PUIG BRANDS SA

Enters the portfolio at 2.33% weight.

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+ ACCIONES|PROSEGUR CASH SA

Enters the portfolio at 2.30% weight.

Prosegur Cash, S.A. provides integrated cash cycle management solutions and automating payments in retail establishments and ATM management in Europe, LATAM, and internationally. The company offers local and international transport services through land, sea, and air, such as collection, transport, custody, delivery, and deposit in vaults for funds and other valuable goods. It also provides cash management and handling, and automation services consisting of counting, processing, reconditioning, securing storage, packaging, delivering, and recycling banknotes and coins, as well as cash flow monitoring and tracking systems and ATM replacement services; Cash Today, which automates payments in retail establishments; ATM management solutions comprising planning, loading, monitoring, first- and second-tier maintenance, and balancing services; value offshore systems services; correspondent banking services, such as management of collections and payments and invoice collection services, currency exchange services; and digital asset custody service. In addition, the company offers added-value offshore system services; cash back services for purchases at the supermarket, online travel bookings, reservations, and gift card purchases; and digital wallets. It serves financial institutions, retail establishments, government agencies and central banks, and mints and jewellery stores. The company was incorporated in 2016 and is headquartered in Madrid, Spain. Prosegur Cash, S.A. is a subsidiary of Prosegur Compañía de Seguridad, S.A.

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+ ACCIONES|EDENRED

Enters the portfolio at 1.98% weight.

Edenred SE operates as a digital platform for services and payments for companies, employees, and merchants worldwide. It offers employee benefit solutions, including Ticket Restaurant, a solution that allows employees to take time out for lunch at a partner merchant; Ticket Alimentación, which allows users to pay for groceries in stores and supermarkets; Edenred Regalo, a gift voucher; Ticket CESU, a human services solution; Edenred City, a solution that enables the purchase of staples, such as food and fuel; Welfare Edenred, which employees can use to pay for various services, including access to sports facilities and solutions for their children's educational needs; Edenred Eco, a solution that encourages the purchase of environmentally friendly products in Belgium; and Kadéos Culture in France and Ticket Cultura in Brazil for cultural goods and services, as well as mobility solutions through Edenred Mobility. The company also offers mobility solutions comprising Ticket Car for employees to pay for fuel and other business travel expenses; Empresarial, which enables companies to control spending to reimburse expense claims; Cintelink, a smart cloud platform for service stations and commercial fleets; UTA Edenred, a fuel card; Ticket Fleet Pro for truck fleet management; Edenred Finance that provides refund services to European transportation companies; The Right Fuel Card, a fuel card manager; and Spirii, a platform for recharging electric vehicles. In addition, it provides complementary solutions comprising corporate payment, incentive and rewards, salary card solutions; and benefits and engagement programs. Edenred SE was founded in 1962 and is headquartered in Issy-les-Moulineaux, France.

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+ ACCIONES|CRESCENT ENERGY INC A(CRGY US)

Enters the portfolio at 1.68% weight.

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+ ACCIONES|ACC. KOSMOS ENERGY LTD

Enters the portfolio at 1.62% weight.

Kosmos Energy Ltd., a deepwater exploration and production company, engages in the exploration, development, and production of oil and natural gas properties. It has oil and gas production projects in offshore Ghana, Equatorial Guinea, Mauritania, Senegal, and the Gulf of America. The company was founded in 2003 and is headquartered in Dallas, Texas.

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+ FACEBOOK INC

Enters the portfolio at 1.61% weight.

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+ ACCIONES|NEKKAR ASA (NKR NO)

Enters the portfolio at 1.41% weight.

Nekkar ASA operates as an industrial company builder in Europe, Turkey, Asia, Australia, New Zealand, North America, the United Arab Emirates, Africa, the United States, South America, India, and Norway. It operates through Syncrolift, Intellilift, Techano Oceanlift, Globetech, and Other segments. The company offers shiplifting systems for launching and retrievals of vessels, and transfer systems for moving vessels around the yard; FastDocking products for operations during docking and maintenance of vessels; and shiplift and transfer system. It also provides load handling and lifting equipment, including cranes, winches, fish crowding systems, fish transfer systems, and offshore wind load handling cranes for the aquaculture and offshore energy industry; and FiiZK closed containment systems improves this by avoiding problems with sea lice and also enables waste collection from the production process. In addition, the company develops industrial software solutions for digitalizing workflows through automation and remotely controlled systems for drilling and offshore load handling; and offers information and communication technology infrastructure, connectivity, and support services. The company was formerly known as TTS Group ASA and changed its name to Nekkar ASA in July 2019. Nekkar ASA founded in 1966 and is headquartered in Kristiansand, Norway.

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+ ACCIONES|NOVEM GROUP SA

Enters the portfolio at 1.21% weight.

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+ PROSUS NV

Enters the portfolio at 0.75% weight.

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+ ORACLE CORP

Enters the portfolio at 0.71% weight.

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− INTERNATIONAL PE

Leaves the portfolio; it was 5.95% of weight.

− ACCIONES|REPSOL SA

Leaves the portfolio; it was 4.16% of weight.

− ACCIONES|GRIFOLS SA

Leaves the portfolio; it was 2.01% of weight.

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− ACCIONES|ACCS PAX GLOBAL TECHNOLOGY

Leaves the portfolio; it was 1.85% of weight.

− TESORO DE ESTADO

Leaves the portfolio; it was 1.85% of weight.

− ACCIONES|PORSCHE AG

Leaves the portfolio; it was 1.85% of weight.

Dr. Ing. h.c. F. Porsche AG engages in automotive and financial services business in Germany, Europe, North America, China, and internationally. The company procures, develops, manufactures, and sells vehicles, as well as related services. It also offers leasing, dealer and customer financing, mobility services for Porsche brand vehicles, and other finance-related services. The company was formerly known as Porsche Fünfte Vermögensverwaltung AG and changed its name to Dr. Ing. h.c. F. Porsche AG in November 2009. The company was founded in 2009 and is headquartered in Stuttgart, Germany. Dr. Ing. h.c. F. Porsche AG is a subsidiary of Porsche Holding Stuttgart GmbH.

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− GRIFOLS SA

Leaves the portfolio; it was 1.83% of weight.

− ACCIONES|DOUGLAS HOLDING AG.

Leaves the portfolio; it was 1.48% of weight.

− ACCIONES|ALIBABA GROUP HOLDING LTD

Leaves the portfolio; it was 1.36% of weight.

Alibaba Group Holding Limited, through its subsidiaries, provides technology infrastructure and marketing reach to help merchants, brands, retailers, and other businesses in the People's Republic of China and internationally. It operates through the Alibaba China E-Commerce Group, Alibaba International Digital Commerce Group, Cloud Intelligence Group, and All Others segments. The Alibaba China E-commerce Group segment operates Taobao and Tmall, which are digital retail platforms; Taobao Instant Commerce, a local services and on-demand delivery platform; 1688.com, a domestic wholesale marketplace; and Xianyu, a consumer-to-consumer community and marketplace for idle goods. Its Alibaba International Digital Commerce Group segment includes AliExpress, a global e-commerce platform; Trendyol, an e-commerce platform in Turkey; Lazada, an e-commerce platform in Southeast Asia; Daraz, an e-commerce platform in South Asia, primarily in Pakistan and Bangladesh; and Alibaba.com, an integrated international online wholesale marketplace. The Cloud Intelligence Group segment offers a suite of cloud services based on infrastructure-as-a-service, platform-as-a-service, and model-as-a-service. Its All Others segment comprises Amap, a provider of mobile digital maps, navigation, and real-time traffic information in China; Cainiao, which provides logistics solutions; Youku, an online long-form video platform in China; Freshippo, a retail platform for groceries and fresh goods; and Alibaba Health, a pharmaceutical and healthcare services platform. Alibaba Group Holding Limited was incorporated in 1999 and is based in Hangzhou, China.

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− ACCIONES|VALARIS LTD

Leaves the portfolio; it was 1.26% of weight.

Valaris Limited, together with its subsidiaries, provides offshore contract drilling services in Brazil, the United Kingdom, Gulf of America, Australia, Angola, and internationally. It operates through four segments: Floaters, Jackups, ARO, and Other. The company owns an offshore drilling rig fleet, which includes drillships, dynamically positioned semisubmersible rigs, a moored semisubmersible rig, and jackup rigs. It also offers management services on rigs owned by third parties. The company serves international, government-owned, and independent oil and gas companies. Valaris Limited was founded in 1975 and is based in Hamilton, Bermuda.

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− ACCIONES|RUBIS

Leaves the portfolio; it was 0.97% of weight.

− ACCIONES|ACC.ACADEMEDIA AB

Leaves the portfolio; it was 0.92% of weight.

− ACCIONES|VITAL ENERGY INC(VTLE US)

Leaves the portfolio; it was 0.60% of weight.

− ACCIONES|JOURNEY ENERGY INC(JOY CN)

Leaves the portfolio; it was 0.21% of weight.

▲ ACCIONES|VISCOFAN SA

Goes from 1.60% to 4.54%.

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▲ ACCIONES|IBERPAPEL GESTION SA

Goes from 0.01% to 1.30%.

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▲ ACCIONES|SOL MELIA

Goes from 1.88% to 3.11%.

Meliá Hotels International, S.A. owns, operates, manages, leases, and franchises hotels in Spain, Latin America, the rest of Europe, and Asia. It operates through Hotel Management, Hotel Business, Other Business Linked to Hotel Management, and Real Estate segments. The company operates hotels under the Gran Meliá Hotels & Resorts, the Meliá Collection, ME by Meliá, Paradisus by Meliá, Meliá Hotels & Resorts, INNSIDE by Meliá, ZEL, Sol by Meliá, Affiliated by Meliá brands, as well as Circle by Meliá and Club Meliá brands. It also engages in the operation of vacation club; casino or tour operation activities; and real estate business. In addition, the company offers Meliá Rewards; and Meliá PRO, a platform for professionals. The company was formerly known as Sol Meliá, S.A. and changed its name to Meliá Hotels International, S.A. in June 2011. The company was founded in 1956 and is headquartered in Palma de Mallorca, Spain.

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▲ ACCIONES|JD.COM INC

Goes from 1.71% to 2.88%.

JD.com, Inc. operates as a supply chain-based technology and service provider in the People's Republic of China and Europe. It operates through three segments: JD Retail, JD Logistics, and New Businesses. The company provides home appliances; mobile handsets and other digital products; computers, including desktop, laptop, and other various products, as well as printers and other office equipment; furniture and household goods; apparel; cosmetics and other personal care items; and pet products. It offers women's shoes, bags, watches, jewelry, and luxury goods; men's shoes, sports gear, and fitness equipment; automobiles and accessories; maternal and childcare products; toys and musical instruments; food, beverages, and fresh produce; gifts, flowers, and plants; and pharmaceutical and healthcare products, such as OCT pharmaceutical products, nutritional supplements, healthcare services, and other healthcare equipment. In addition, the company provides books, e-books, music, movies, and other media products; virtual goods consisting of online travel agency, attraction tickets, and prepaid phone cards and game cards; industrial products; and installation and maintenance services. Further, it offers online marketplace services for third-party merchants; marketing services; and omni-channel solutions to customers and offline retailers, as well as online healthcare services. Additionally, the company develops, owns, and manages its logistics facilities and other real estate properties to support third parties; and offers asset management services and integrated service platform; leasing of storage facilities and related management services, as well as engages in online retail business; technology-driven supply chain solutions; and logistics services. The company was formerly known as 360buy Jingdong Inc. and changed its name to JD.com, Inc. in January 2014. JD.com, Inc. was incorporated in 2006 and is headquartered in Beijing, the People's Republic of China.

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▲ ACCIONES|NAVIGATOR

Goes from 1.12% to 2.05%.

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▲ ACCIONES|THE ITALIAN SEA GROUP S.P.A.

Goes from 1.01% to 1.59%.

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▲ ACCIONES|ACERINOX SA

Goes from 0.76% to 1.33%.

Acerinox, S.A., together with its subsidiaries, manufactures and distributes stainless steel and high-performance alloys in Spain, the United States, Africa, Asia, rest of Europe, and internationally. It operates through Stainless Steel and High-Performance Alloys segments. The company offers flat products, including slab, billet, black coil, plate, engraved coil/sheet, cold rolled coil and sheet, hot rolled coil and sheet, and circles; and stainless steel grades comprising austenitic, ferritic, duplex, and martensitic, as well as wire stainless steels for welding. It also provides long stainless steel products, such as wire, colour coated wire, reinforcement wire, wire rod, hexagonal wire rod, bar, hot rolled and cold rolled reinforcement bar, peeled bar, black bar, profiles, hot rolled reinforcement coil, and angles. In addition, the company offers high performance alloys, including nickel and nickel alloys, cobalt alloys, zirconium, special stainless steels, aluminum and copper, powder for 3D printing, and welding consumables. Its products are used for transport, industrial equipment and engineering, construction and infrastructure, food industry, household appliances and kitchenware, and energy and environmental technology applications. Acerinox, S.A. was incorporated in 1970 and is headquartered in Madrid, Spain.

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▲ ACCIONES|VERALLIA

Goes from 1.49% to 1.95%.

Verallia Société Anonyme manufactures and sells glass packaging products for beverages and food products worldwide. It provides bottles for still and semi-sparkling wines, spirits, beers, soft drinks, and oils. The company also offers jars for baby food, dairy products, jams, honey, spreads, condiments, sauces, preserves, etc. Verallia Société Anonyme was founded in 1827 and is based in Courbevoie, France.

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▲ ACCIONES|YELLOW CAKE PLC

Goes from 1.84% to 2.22%.

Yellow Cake plc operates in the uranium sector. The company purchases and holds uranium oxide concentrates, and commercial opportunities. Yellow Cake plc was incorporated in 2018 and is headquartered in Saint Helier, Jersey.

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▲ ACCIONES|CONOCOPHILLIPS

Goes from 0.94% to 1.25%.

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▲ ACCIONES|EBRO FOODS SA

Goes from 2.74% to 3.01%.

Ebro Foods, S.A. operates as a food company in Spain, the Americas, Europe, and internationally. The company offers dry, fresh, frozen, organic, aromatic, and brown rice; premium, fresh, and filled pasta; ready-to-serve rice and pasta dishes; sauces; flours and ingredients; and canned vegetables. It sells its products under the Brillante, SOS, La Fallera, Santa Rita, La Cigala, Rocio, Santa Lucia, Arotz, Garofalo, Cigala, Bertagni, Russo, Ris-Fix, Königs Reis, Lustucru, Lassie, Tilda, Taureau Ailé, Boss, Oryza, Saludães, Mahatma, Riceland, Bosto, Adolphus, Minute, Reis-Fit, Gourmet House, Success, Risella, Herba, Blue Ribbon Rice, Casi, Pear Blossom, Rice Select, Carolina, Water Maid, River, AA, Ultimate, Wonder, Comet Rice, Peacock, Minute Rice, Colusa Rose, Kohinoor, Olivieri, Sello Rojo, In Harvest, Puroma, Miura, Abu Bint, Rix fis, and Phoenix brands. The company also engages in insurance and finance; administration; farmland concessionaire; rice farming; logistics; and investment management activities. It exports its products. The company was formerly known as Ebro Puleva, S.A. and changed its name to Ebro Foods, S.A. in June 2010. Ebro Foods, S.A. was incorporated in 1998 and is headquartered in Madrid, Spain.

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▼ ACCIONES|CIE AUTOMOTIVE SA

Goes from 5.16% to 2.34%.

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▼ ACCIONES|TGS Nopec Geo

Goes from 4.08% to 2.53%.

TGS ASA provides geoscience data services to the oil and gas industry in Norway and internationally. It operates through Multi client, Marine Data Acquisition (MDA), Imaging, New Energy Solutions (NES), and Shared Services segments. The company offers seismic data using robust technology and imaging solutions; well data recorded expertly matched and validated, from permit to abandonment; carbon storage and monitoring solutions; wind energy data partner throughout the wind development lifecycle; solar operations; and asset management services. It also offers applications for oil and gas, new energies, data platforms, and ai/machine learning. TGS ASA has a agreement with Ministry of Hydrocarbon and Mining Development of the Republic of Equatorial Guinea to create an offshore MegaSurvey. The company was formerly known as TGS-NOPEC Geophysical Company ASA and changed its name to TGS ASA in June 2021. TGS ASA was founded in 1981 and is headquartered in Oslo, Norway.

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▼ ACCIONES|MIQUEL Y COSTAS AND MIQUEL SA

Goes from 4.49% to 3.01%.

Miquel y Costas & Miquel, S.A., together with its subsidiaries, engages in the manufacture and sale of thin and special lightweight paper for the tobacco industry in Spain, the European Union, OECD countries, and internationally. The company offers cigarette tissue, tipping paper, plug wrap paper, rolling paper booklets, textile pups; specialty paper, decorative laminates, pasting paper, paper for tea bags and coffee capsules, greaseproof paper, paper certified, straw paper, paper for cases and packages, filter paper, security paper, and papers for perfumes and hairdressing; and porous pulps products. It also provides printing paper comprising stationery papers, pharma paper, and paper for religious books. Miquel y Costas & Miquel, S.A. was founded in 1752 and is based in Barcelona, Spain.

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▼ ACCIONES|SUN HUNG KAI AND CO LTD

Goes from 2.28% to 1.43%.

Sun Hung Kai & Co. Limited operates in the alternative investment and wealth management businesses in Hong Kong and the People's Republic of China. The company operates through Consumer Finance, Mortgage Loans, Investment Management, Alternative Solutions, and Group Management and Support segments. It offers unsecured and secured loans to individuals and small businesses through branches and online platforms; and first mortgage and second mortgage loans to property owners, as well as customized financing solutions to property investors. The company's investment portfolio consists of public markets; and alternatives solutions, including real estate, hedge funds, private credit, and private equity. In addition, it offers secretarial, financial consultancy, enterprise management, nominee, financing, money lending, asset management, property investment, securities trading, investment funds, consultancy and marketing planning, fund management, management consultancy, loan finance, and mortgage financing services. Further, the company provides consumer, small, and medium enterprises financing; mortgage loans and other financing; portfolio investments and provision of term loans, structured, and specialty financing; external fund solutions; and fund management service. Sun Hung Kai & Co. Limited was founded in 1969 and is headquartered in Causeway Bay, Hong Kong. Sun Hung Kai & Co. Limited operates as a subsidiary of Allied Properties (H.K.) Limited.

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▼ ACCIONES|GESTAMP AUTOMOCION SA

Goes from 2.83% to 1.99%.

Gestamp Automoción, S.A. designs, develops, and manufactures metal components for the automotive industry in Western Europe, Eastern Europe, Mercosur, North America, and Asia. The company offers body-in-white products, large components and assembly parts, such as bonnets, roofs, doors, and mudguards, as well as other surface and assembly parts for use in creation of visible exterior skin of vehicles; and structural and crash-related elements, including floors, pillars, rails, and wheel arches. It also provides chassis parts comprising under body of vehicles and includes systems, frames and related parts, such as front and rear axles and couplings, control arms, and integrated couplings; hinges, door checks, electrical systems, and powered systems. In addition, the company offers hydraulic presses and dies in the areas of hot stamping, cold stamping, hydroforming, and try out of tools. Further, it serves vehicle manufacturers. Gestamp Automoción, S.A. was incorporated in 1997 and is headquartered in Madrid, Spain. Gestamp Automoción, S.A. is a subsidiary of Gestamp 2020, S.L.

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▼ ACCIONES|CORTICEIRA AMORIM SGPS SA

Goes from 3.49% to 2.81%.

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▼ ACCIONES|GLOBAL DOMINION ACCESS SA

Goes from 2.51% to 1.90%.

Global Dominion Access, S.A. engages in the provision of integral services for business process efficiency and sustainability worldwide. The company provides operation and maintenance services; environment services for industrial cleaning and waste management; installation and maintenance of refractory linings; design, construction, and maintenance of tall structures, including towers, silos, domes, chimneys, stacks, and others; designing, building, and maintaining industrial structures, such as gas systems, tanks and vessels, industrial furnaces, and electrical systems; and management of logistics and warehouses. It also provides solutions for flexible production and automation; telecommunication networks; technological projects and communication systems; renewable energy generation; wind services; and self-consumption and new energy systems. In addition, the company is involved in the implementation and integral management of the life cycle of transmission lines, substations, and distribution, as well as different projects. Global Dominion Access, S.A. was incorporated in 1999 and is headquartered in Bilbao, Spain.

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▼ ACCIONES|SEMAPA SOCIEDADE DE INVESTIMENT

Goes from 2.65% to 2.05%.

Semapa - Sociedade de Investimento e Gestão, SGPS, S.A., through its subsidiaries, engages in the production and sale of pulp, printing and writing papers, and tissues in Portugal, the rest of Europe, the United States, Africa, Asia, and Oceania. It operates through Pulp and Paper, Cement, and Other Businesses segments. The company produces and sells writing and printing thin paper, tissue paper, and moulded fibre packaging; researches, develops, produces, and sells forestry and agricultural products; and produces and sells bleached eucalyptus kraft pulp (BEKP), cork, and pine wood products, as well as electric and thermal energy. It is also involved in the production and sale of cement, ready-mixed concrete, aggregates, mortars, precast concrete, and hydraulic lime. In addition, the company engages in the production of aluminium e-bike frames; and the provision of services related to the recovery of animal by-products and food products containing animal-origin substances to produce fertilizers, animal feed, and biodiesel. The company was incorporated in 1991 and is based in Lisbon, Portugal.

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▼ DNO ASA

Goes from 2.55% to 1.97%.

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▼ ACCIONES|AC.ALANTRA PARTNERS, SA

Goes from 2.75% to 2.42%.

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▼ POLAND REPUBLIC

Goes from 1.39% to 1.07%.

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▼ GOLAR LNG LTD

Goes from 1.21% to 0.89%.

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▼ KOSMOS ENERGY LT

Goes from 0.68% to 0.37%.

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▼ PARLEM TELECOM

Goes from 0.88% to 0.65%.

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Fixed income

Declared FI exposure
11.0 M €
% of portfolio
14.4%
Positions
10
Issuers
9
Sovereign: 815,044 € Corporate: 10.2 M €

Maturity ladder

Observed contractual maturity of each position, repos excluded. Matured/≤3 months includes bonds maturing in the first days after the period close.

2-5 years · 68.8%5-10 years · 2.6%> 10 years · 28.6%
Maturity Positions Exposure %
Matured or ≤3 months 0 0 € 0.0%
3-6 months 0 0 € 0.0%
6-12 months 0 0 € 0.0%
1-2 years 0 0 € 0.0%
2-5 years 5 7.6 M € 68.8%
5-10 years 1 283,210 € 2.6%
> 10 years 4 3.2 M € 28.6%
Unknown 0 0 € 0.0%

Top issuers

The 10 issuers with the largest declared exposure in this fund, repos excluded.

Issuer Type ISINs Exposure Next maturity
INTERNATIONAL PE Corporate 1 3.0 M € 2030-10-10
GOLAR LNG LTD Corporate 2 2.6 M € 2029-09-19
DNO ASA Corporate 1 1.5 M € 2030-03-27
FACEBOOK INC Corporate 1 1.2 M € 2063-05-15
POLAND REPUBLIC Sovereign 1 815,044 € 2053-04-04
PROSUS NV Corporate 1 570,997 € 2054-02-08
ORACLE CORP Corporate 1 543,865 € 2064-09-27
PARLEM TELECOM Corporate 1 500,279 € 2028-06-17
KOSMOS ENERGY LT Corporate 1 283,210 € 2031-10-01

Top instruments

The 10 instruments with the largest declared exposure. No yield, IRR or rating: there's no reliable data to compute them.

ISIN Coupon Maturity Exposure
NO0013671107 INTERNATIONAL PE 7.50% 2030-10-10 3.0 M €
USG4023LAD31 GOLAR LNG LTD 7.50% 2030-10-02 1.9 M €
NO0013511113 DNO ASA 8.50% 2030-03-27 1.5 M €
US30303M8R66 FACEBOOK INC 5.75% 2063-05-15 1.2 M €
US731011AW25 POLAND REPUBLIC 5.50% 2053-04-04 815,044 €
NO0013331223 GOLAR LNG LTD 7.75% 2029-09-19 682,447 €
USN7163RAQ67 PROSUS NV 3.83% 2054-02-08 570,997 €
US68389XCV55 ORACLE CORP 5.50% 2064-09-27 543,865 €
ES0305561005 PARLEM TELECOM 8.00% 2028-06-17 500,279 €
USU5007TAE56 KOSMOS ENERGY LT 8.75% 2031-10-01 283,210 €

Currencies

Fixed-income exposure by instrument currency.

Currency Exposure %
USD 10.5 M € 95.5%
EUR 500,279 € 4.5%

This period's fixed-income moves

Compares the current fixed-income portfolio with the previous period, by ISIN. An exit that coincides with maturity isn't a sale: the bond reached its contractual date.

New positions: 5 Exits at maturity: 0 Exits not explained by maturity: 3
+ INTERNATIONAL PE

Enters the portfolio at 3.95% weight.

+ GOLAR LNG LTD

Enters the portfolio at 2.47% weight.

+ FACEBOOK INC

Enters the portfolio at 1.61% weight.

+ PROSUS NV

Enters the portfolio at 0.75% weight.

+ ORACLE CORP

Enters the portfolio at 0.71% weight.

− INTERNATIONAL PE

Leaves the portfolio; it was 5.95% of weight.

− TESORO DE ESTADO

Leaves the portfolio; it was 1.85% of weight.

− GRIFOLS SA

Leaves the portfolio; it was 1.83% of weight.

Disclaimer

This is not financial advice. The portfolio comes from the periodic report the fund files with the CNMV and lags the real close of the period: it is a snapshot of the end of each half-year, not a real-time portfolio.