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BBVA MI INVERSION BOLSA, FI

Category
Latest period
H2 2025
Positions
58

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.

58
Company Type Country Weight Price
ACCIONES|ROCHE HOLDING AG CH0012032048 · CHF Renta Variable Cotizada CH 5.54%
ACCIONES|BRITISH AMERICAN TOB GB0002875804 · GBP Renta Variable Cotizada GB 4.00% 4131.00 GBp
ACCIONES|AXA SA FR0000120628 · EUR Renta Variable Cotizada FR 3.81%
ACCIONES|SANOFI SA FR0000120578 · EUR Renta Variable Cotizada FR 3.77%
ACCIONES|NOVARTIS AG CH0012005267 · CHF Renta Variable Cotizada CH 3.72%
ACCIONES|SHELL PLC GB00BP6MXD84 · EUR Renta Variable Cotizada GB 3.67% 3409.50 GBp
ACCIONES|TOTALENERGIES SE FR0000120271 · EUR Renta Variable Cotizada FR 3.57%
ACCIONES|VINCI SA FR0000125486 · EUR Renta Variable Cotizada FR 3.41%
ACCIONES|ALLIANZ SE DE0008404005 · EUR Renta Variable Cotizada DE 2.57%
ACCIONES|GENERALI IT0000062072 · EUR Renta Variable Cotizada IT 2.56%
ACCIONES|IMPERIAL BRANDS PLC GB0004544929 · GBP Renta Variable Cotizada GB 2.51% 2503.00 GBp
ACCIONES|UPM-KYMMENE OYJ FI0009005987 · EUR Renta Variable Cotizada FI 2.22%
ACCIONES|SSE PLC GB0007908733 · GBP Renta Variable Cotizada GB 2.18%
ACCIONES|DSV A/S DK0060079531 · DKK Renta Variable Cotizada DK 2.09% 1398.50 DKK
ACCIONES|NN GROUP NV NL0010773842 · EUR Renta Variable Cotizada NL 2.09%
ACCIONES|ANHEUSER-BUSCH INBEV BE0974293251 · EUR Renta Variable Cotizada BE 1.96%
ACCIONES|RWE AG DE0007037129 · EUR Renta Variable Cotizada DE 1.91%
ACCIONES|PUBLICIS GROUPE SA FR0000130577 · EUR Renta Variable Cotizada FR 1.69%
ACCIONES|RIO TINTO PLC GB0007188757 · GBP Renta Variable Cotizada GB 1.62%
ACCIONES|HISCOX LTD BMG4593F1389 · GBP Renta Variable Cotizada BM 1.58%
ACCIONES|SPIE SA FR0012757854 · EUR Renta Variable Cotizada FR 1.57%
ACCIONES|RECKITT BENCKISER GR GB00B24CGK77 · GBP Renta Variable Cotizada GB 1.54%
ACCIONES|ZURICH INSURANCE GRO CH0011075394 · CHF Renta Variable Cotizada CH 1.50%
ACCIONES|TESCO PLC GB00BLGZ9862 · GBP Renta Variable Cotizada GB 1.45%
FEDERAL REPUBLIC OF DE000BU0E279 · EUR Deuda Publica Cotizada Memos 1 Anio DE 1.40%
ACCIONES|ANGLO AMERICAN PLC GB00BTK05J60 · GBP Renta Variable Cotizada GB 1.27% 4067.00 GBp
ACCIONES|NATIONAL GRID PLC GB00BDR05C01 · GBP Renta Variable Cotizada GB 1.26%
ACCIONES|CIE GENERALE DES ETA FR001400AJ45 · EUR Renta Variable Cotizada FR 1.21%
ACCIONES|SCHNEIDER ELECTRIC S FR0000121972 · EUR Renta Variable Cotizada FR 1.20%
ACCIONES|FRESENIUS SE & CO KG DE0005785604 · EUR Renta Variable Cotizada DE 1.16%
ACCIONES|BAE SYSTEMS PLC GB0002634946 · GBP Renta Variable Cotizada GB 1.15%
ACCIONES|ASR NEDERLAND NV NL0011872643 · EUR Renta Variable Cotizada NL 1.14%
ACCIONES|ASTRAZENECA PLC GB0009895292 · GBP Renta Variable Cotizada GB 1.14%
ACCIONES|PRUDENTIAL PLC GB0007099541 · GBP Renta Variable Cotizada GB 1.12%
ACCIONES|BARCLAYS PLC GB0031348658 · GBP Renta Variable Cotizada GB 1.11% 492.60 GBp
ACCIONES|ENEL SPA IT0003128367 · EUR Renta Variable Cotizada IT 1.10%
ACCIONES|NATWEST GROUP PLC GB00BM8PJY71 · GBP Renta Variable Cotizada GB 1.10%
ACCIONES|DEUTSCHE TELEKOM AG DE0005557508 · EUR Renta Variable Cotizada DE 1.09%
ACCIONES|MOWI ASA NO0003054108 · NOK Renta Variable Cotizada NO 1.07%
ACCIONES|REDEIA CORP SA ES0173093024 · EUR Renta Variable Cotizada ES 1.07%
ACCIONES|UNITED INTERNET AG DE0005089031 · EUR Renta Variable Cotizada DE 1.06%
ACCIONES|HALEON PLC GB00BMX86B70 · GBP Renta Variable Cotizada GB 1.06%
ACCIONES|ANDRITZ AG AT0000730007 · EUR Renta Variable Cotizada AT 1.06%
ACCIONES|COCA-COLA HBC AG CH0198251305 · GBP Renta Variable Cotizada CH 1.04%
ACCIONES|INCHCAPE PLC GB00B61TVQ02 · GBP Renta Variable Cotizada GB 1.04%
ACCIONES|BAYERISCHE MOTOREN W DE0005190003 · EUR Renta Variable Cotizada DE 1.01% 58.88 EUR
ACCIONES|INFORMA PLC GB00BMJ6DW54 · GBP Renta Variable Cotizada GB 1.01%
ACCIONES|CREDIT AGRICOLE SA FR0000045072 · EUR Renta Variable Cotizada FR 0.99%
ACCIONES|HELLENIC TELECOMMUNI GRS260333000 · EUR Renta Variable Cotizada GR 0.99%
ACCIONES|GLENCORE PLC JE00B4T3BW64 · GBP Renta Variable Cotizada JE 0.85% 596.80 GBp
ACCIONES|DEUTSCHE BANK AG DE0005140008 · EUR Renta Variable Cotizada DE 0.80% 32.38 EUR
ACCIONES|KONINKLIJKE AHOLD DE NL0011794037 · EUR Renta Variable Cotizada NL 0.80%
ACCIONES|EQUINOR ASA NO0010096985 · NOK Renta Variable Cotizada NO 0.80%
ACCIONES|SCOR SE FR0010411983 · EUR Renta Variable Cotizada FR 0.74%
ACCIONES|KONINKLIJKE KPN NV NL0000009082 · EUR Renta Variable Cotizada NL 0.46%
ACCIONES|BARRATT REDROW PLC GB0000811801 · GBP Renta Variable Cotizada GB 0.38% 312.40 GBp
ACCIONES|B&M EUROPEAN VALUE R LU1072616219 · GBP Renta Variable Cotizada LU 0.28%
ACCIONES|NOVO NORDISK A/S DK0062498333 · DKK Renta Variable Cotizada DK 0.06%

This period's moves

H2 2025 vs H1 2025 (estimated)

New: 13 Exits: 10 Increases: 6 Cuts: 13
+ ACCIONES|NN GROUP NV

Enters the portfolio at 2.09% weight.

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+ ACCIONES|ANHEUSER-BUSCH INBEV

Enters the portfolio at 1.96% weight.

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+ ACCIONES|PUBLICIS GROUPE SA

Enters the portfolio at 1.69% weight.

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+ ACCIONES|HISCOX LTD

Enters the portfolio at 1.58% weight.

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+ ACCIONES|TESCO PLC

Enters the portfolio at 1.45% weight.

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+ FEDERAL REPUBLIC OF

Enters the portfolio at 1.40% weight.

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+ ACCIONES|SCHNEIDER ELECTRIC S

Enters the portfolio at 1.20% weight.

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+ ACCIONES|BARCLAYS PLC

Enters the portfolio at 1.11% weight.

Barclays PLC provides various financial services in the United Kingdom, Europe, the Americas, Africa, the Middle East, and Asia. The company operates through Barclays UK; Barclays UK Corporate Bank; Barclays Private Bank and Wealth Management; Barclays Investment Bank; and Barclays US Consumer Bank segments. It offers financial services, such as current accounts, savings accounts, mortgages and unsecured lending, such as credit cards and loans retail banking, wholesale banking, investment banking, wealth management, and investment management services, as well as lending products. In addition, the company engages in securities dealing activities and issuing of credit cards. The company was formerly known as Barclays Bank public limited company and changed its name to Barclays PLC in January 1985. Barclays PLC was founded in 1690 and is headquartered in London, the United Kingdom.

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+ ACCIONES|MOWI ASA

Enters the portfolio at 1.07% weight.

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+ ACCIONES|REDEIA CORP SA

Enters the portfolio at 1.07% weight.

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+ ACCIONES|CREDIT AGRICOLE SA

Enters the portfolio at 0.99% weight.

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+ ACCIONES|GLENCORE PLC

Enters the portfolio at 0.85% weight.

Glencore plc engages in the production, refinement, processing, storage, transport, and marketing of metals and minerals, and energy products in the Americas, Europe, Asia, Africa, and Oceania. The company operates in two segments, Marketing Activities and Industrial Activities. It engages in the production and marketing of copper, cobalt, lead, nickel, zinc, chrome ore, ferrochrome, vanadium, aluminum, alumina, and iron ore; and coal, crude oil, refined products, and natural gas, as well as oil exploration and production and refining and distribution. The company is also involved in marketing and distributing physical commodities sourced from third party producers to industrial consumers, including the battery, electronic, construction, automotive, steel, energy, and oil industries. In addition, the company provides financing, logistics, and other services to producers and consumers of commodities. Glencore plc was founded in 1974 and is headquartered in Baar, Switzerland.

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+ ACCIONES|NOVO NORDISK A/S

Enters the portfolio at 0.06% weight.

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− FEDERAL REPUBLIC OF

Leaves the portfolio; it was 1.68% of weight.

− ACCIONES|MUENCHENER RUECKVERS

Leaves the portfolio; it was 1.35% of weight.

− ACCIONES|UCB SA

Leaves the portfolio; it was 1.03% of weight.

− ACCIONES|TRATON SE

Leaves the portfolio; it was 0.95% of weight.

− ACCIONES|PERNOD RICARD SA

Leaves the portfolio; it was 0.93% of weight.

Pernod Ricard SA produces and sells wines and spirits worldwide. The company offers whiskey, vodka, gin, rum, liqueur and bitters, champagne, tequila and mezcal, and aperitif under the brands 100 Pipers, Aberlour, Absolut, Absolut Elyx, Altos, ARARAT, Augier, Avion, Ballantine's, Becherovka, Beefeater, Blenders Pride, Brancott Estate, Campo Viejo, Ceder's, Chivas, Clan Campbell, Del Maguey, George Wyndham, Green Spot, Havana Club, Imperial, Imperial Blue, Italicus, J.P. Wiser's, Jacob's Creek, Jameson, Jefferson's, Kahlúa, Kenwood, KI NO BI, Lillet, Long John, L'Orbe, Lot No. 40, Malfy, Malibu, Kahlua, Martell, Method & Madness, Midleton Very Rare, Minttu, Monkey 47, Mumm, Olmeca, Ostoya, Passport Scotch, Pastis 51, Pernod, Perrier-Jouët, Plymouth Gin, Powers, Rabbit Hole, Ramazzotti, Redbreast, Ricard, Royal Salute, Royal Stag, Scapa, Seagram's Gin, Secret Speyside, Smooth Ambler, Something Special, Suze, The Glenlivet, TX, and Wyborowa. It also provides non-alcoholic beverages under the brands Beefeater 0%, Ceder's, Suze Tonic 0%, Cinzano Spritz 0%, Pacific, Campo Viejo Sparkling 0%, and Jacob's Creek Unvined. Pernod Ricard SA was founded in 1805 and is headquartered in Paris, France.

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− ACCIONES|KERRY GROUP PLC

Leaves the portfolio; it was 0.90% of weight.

− ACCIONES|ARKEMA SA

Leaves the portfolio; it was 0.82% of weight.

Arkema S.A., together with its subsidiaries, manufactures and sells specialty materials in Europe, the United States, Canada, Mexico, China, Hong Kong, Taiwan, and internationally. It operates in three segments: Adhesive Solutions, Advanced Materials and Coating Solutions, and Intermediates. The company provides solutions for construction, renovation of buildings, and DIY; high performance adhesives for durable goods, and adhesive solutions for packaging and non-woven; and supplies technologies used in building activities for businesses and individuals, including sealants, tiles, flooring adhesives and waterproofing systems, and technologies used in automotive, textiles, glazing, flexible and rigid packaging, and hygiene markets. It also offers high performance polymers, such as specialty polyamides, PVDF, polyimides, fluorospecialties, and PEKK; and performance additives comprising interface agents combining specialty surfactants, molecular sieves, organic peroxides, thiochemicals, and hydrogen peroxide. In addition, the company provides lightweighting, new energies, access to water, bio-based products, and recycling solutions for automotive and transportation sectors, oil and gas, renewable energies, consumer goods, electronics, construction, coatings, animal nutrition and water treatment. Further, it offers coating solutions, including EU/US acrylics and coating resins; coating additives, such as sartomer photocure resins, and coatex rheology additives and specialties; decorative paints, industrial coatings, and adhesives; and solutions for applications in the paper, superabsorbent, water treatment and oil and gas extraction, and 3D printing and electronics markets. Additionally, the company provides fluorogases and asia acrylics; and industrial intermediate chemicals for construction, refrigeration and air conditioning, automotive, coatings, and water treatment sectors. Arkema S.A. was incorporated in 2003 and is headquartered in Puteaux, France.

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− ACCIONES|CARREFOUR SA

Leaves the portfolio; it was 0.79% of weight.

Carrefour SA operates as a food retailer in France, Spain, Belgium, Poland, Romania, Brazil, Argentina, the Middle East, Africa, Asia, and internationally. The company operates hypermarkets, supermarkets, convenience stores, club stores, and cash and carry stores; soft discount stores; and e-commerce sites. It is also involved in the provision of financial services; banking and insurance services; property development; travel ticketing and leisure; agency; shopping mall rental; and franchise activities. Carrefour SA was founded in 1959 and is headquartered in Massy, France.

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− ACCIONES|REPSOL SA

Leaves the portfolio; it was 0.73% of weight.

− ACCIONES|VONOVIA SE

Leaves the portfolio; it was 0.68% of weight.

▲ ACCIONES|ROCHE HOLDING AG

Goes from 3.42% to 5.54%.

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▲ ACCIONES|UPM-KYMMENE OYJ

Goes from 0.84% to 2.22%.

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▲ ACCIONES|GENERALI

Goes from 1.53% to 2.56%.

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▲ ACCIONES|BRITISH AMERICAN TOB

Goes from 3.12% to 4.00%.

British American Tobacco p.l.c. provides tobacco and nicotine products to consumers in the United States, Europe, Latin America, Canada, the Asia-Pacific, the Middle East, Central Asia, Caucasus, and Africa. The company offers vapour products; heated products, which consists of a battery-powered device and a plant-based substance consumable that is heated; modern oral products, such as nicotine pouches; combustibles, including cigarette sticks and other tobacco stick products; traditional oral products, such as snus and moist snuff; and fine cut/roll-your-own tobacco products. It sells its products under the Vuse, glo, Velo, Grizzly, Kodiak, Dunhill, Kent, Lucky Strike, Pall Mall, Rothmans, Newport, Natural American Spirit, and Camel Snus brands, as well as Vogue, Viceroy, Kool, Peter Stuyvesant, Craven A, and State Express 555 brands. The company distributes its products to retail outlets. British American Tobacco p.l.c. was founded in 1902 and is headquartered in London, the United Kingdom.

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▲ ACCIONES|SSE PLC

Goes from 1.51% to 2.18%.

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▲ ACCIONES|ANGLO AMERICAN PLC

Goes from 0.87% to 1.27%.

Anglo American plc, a mining company, produces copper, iron ore, and crop nutrients in the United Kingdom and internationally. The company operates through the Premium Iron Ore and the Copper segments. It also explores for nickel, diamonds, steelmaking coal, and manganese ore. The company was founded in 1917 and is headquartered in London, the United Kingdom.

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▼ ACCIONES|TOTALENERGIES SE

Goes from 5.10% to 3.57%.

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▼ ACCIONES|SHELL PLC

Goes from 5.15% to 3.67%.

Shell plc operates as an energy and petrochemical company in Europe, Asia, Oceania, Africa, the United States, and other parts of the Americas. It operates through the following segments: Integrated Gas, Upstream, Marketing, Chemicals and Products, and Renewables and Energy Solutions. The company explores for and extracts natural gas to produce liquefied natural gas or convert it into gas-to-liquids (GTL) fuels and other products; explores for and extracts crude oil, natural gas, and natural gas liquids; and operates marketing and transportation of oil, gas, and liquids, supported by the infrastructure required to deliver them to market or to process them within Shell's chemical manufacturing plants and refineries. It is also involved in marketing, which includes mobility, lubricants, and sectors focused on decarbonization; operates a retail network, including electric vehicle charging, convenience retail, and the wholesale commercial fuels business for transport and industry; sells products for road transport and machinery in manufacturing, mining, power generation, agriculture, and construction; and provides low-carbon energy solutions, such as biofuels, to a broad range of commercial customers, including those in the aviation, marine, and agriculture sectors. In addition, the company offers chemicals and products, including chemicals manufacturing plants with their own marketing network, and refineries that turn crude oil and other feedstocks into a range of oil products, which are moved and marketed around the world for domestic, industrial, and transport use; and operates a pipeline business, trading, and optimization of crude oil, oil products, and petrochemicals. The company was formerly known as Royal Dutch Shell plc and changed its name to Shell plc in January 2022. Shell plc was founded in 1897 and is headquartered in London, United Kingdom.

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▼ ACCIONES|EQUINOR ASA

Goes from 2.21% to 0.80%.

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▼ ACCIONES|BARRATT REDROW PLC

Goes from 1.51% to 0.38%.

Barratt Redrow plc engages in the housebuilding business in the United Kingdom. The company is also involved in the commercial development business, which includes offices, retail, leisure, industrial, and distribution properties under the Wilson Bowden Developments brand; and land development activities. In addition, it manufactures timber frames under the Oregon Timber Frame brand; and furniture under the BD Living brand. The company offers its homes under the Barratt Homes, David Wilson Homes, Redrow, and Barratt London brands. The company was formerly known as Barratt Developments plc and changed its name Barratt Redrow plc in October 2024. Barratt Redrow plc was founded in 1953 and is headquartered in Coalville, the United Kingdom.

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▼ ACCIONES|SANOFI SA

Goes from 4.87% to 3.77%.

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▼ ACCIONES|AXA SA

Goes from 4.49% to 3.81%.

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▼ ACCIONES|KONINKLIJKE KPN NV

Goes from 1.05% to 0.46%.

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▼ ACCIONES|ALLIANZ SE

Goes from 3.10% to 2.57%.

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▼ ACCIONES|ZURICH INSURANCE GRO

Goes from 1.97% to 1.50%.

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▼ ACCIONES|VINCI SA

Goes from 3.71% to 3.41%.

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▼ ACCIONES|BAE SYSTEMS PLC

Goes from 1.42% to 1.15%.

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▼ ACCIONES|CIE GENERALE DES ETA

Goes from 1.48% to 1.21%.

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▼ ACCIONES|SCOR SE

Goes from 0.98% to 0.74%.

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Fixed income

Declared FI exposure
9.1 M €
% of portfolio
1.4%
Positions
1
Issuers
1
Sovereign: 9.1 M € Corporate: 0 €

Maturity ladder

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

Matured or ≤3 months · 100.0%
Maturity Positions Exposure %
Matured or ≤3 months 1 9.1 M € 100.0%
3-6 months 0 0 € 0.0%
6-12 months 0 0 € 0.0%
1-2 years 0 0 € 0.0%
2-5 years 0 0 € 0.0%
5-10 years 0 0 € 0.0%
> 10 years 0 0 € 0.0%
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
FEDERAL REPUBLIC OF Sovereign 1 9.1 M € 2026-03-18

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
DE000BU0E279 FEDERAL REPUBLIC OF 1.93% 2026-03-18 9.1 M €

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: 1 Exits at maturity: 1 Exits not explained by maturity: 0
+ FEDERAL REPUBLIC OF

Enters the portfolio at 1.40% weight.

◦ FEDERAL REPUBLIC OF

Leaves the portfolio; it was 1.68% 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.