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CREAND GESCAPITAL ACTIVA, FI

Category
Latest period
H2 2025
Positions
61

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.

61
Company Type Country Weight Price
INVERSIS ES0000012O67 · EUR Adquisicion Temporal Activos ES 19.15%
Acciones|INVESCO IE00B579F325 · EUR Renta Variable Cotizada IE 10.66%
RA SECURITIES SARL XS2861031891 · EUR Renta Fija Cotizada Mas 1 Anio XS 4.17%
TESORO AMERICANO US912828Z377 · USD Deuda Publica Cotizada Mas 1 Anio US 2.63%
US TREASURY US91282CLW90 · USD Deuda Publica Cotizada Mas 1 Anio US 2.19%
SACYR XS2784661675 · EUR Renta Fija Cotizada Mas 1 Anio XS 2.05%
BANCO SANTANDER CENT XS2575952424 · EUR Renta Fija Cotizada Menos 1 Anio XS 1.99%
CEPSA XS2202744384 · EUR Renta Fija Cotizada Menos 1 Anio XS 1.95%
MASMOVIL IBERCOM SA ES05846961K0 · EUR Renta Fija No Cotizada ES 1.93%
Acciones|ELI LILLY & CO US5324571083 · USD Renta Variable Cotizada US 1.13%
Acciones|INDITEX ES0148396007 · EUR Renta Variable Cotizada ES 1.05%
Acciones|MAPFRE ES0124244E34 · EUR Renta Variable Cotizada ES 0.99%
Acciones|AIRBUS GROUP NL0000235190 · EUR Renta Variable Cotizada NL 0.96% 203.70 EUR
VOLVO AB XS2240978085 · EUR Renta Fija Cotizada Mas 1 Anio XS 0.94%
Acciones|NVIDIA CORP US67066G1040 · USD Renta Variable Cotizada US 0.93%
DUFRY ONE BV XS2333564503 · EUR Renta Fija Cotizada Mas 1 Anio XS 0.92%
Acciones|BANKINTER ES0113679I37 · EUR Renta Variable Cotizada ES 0.90%
Acciones|AMAZON.COM INC US0231351067 · USD Renta Variable Cotizada US 0.89%
Acciones|MICROSOFT CP WASH US5949181045 · USD Renta Variable Cotizada US 0.82% 483.24 USD
Acciones|VISCOFAN ES0184262212 · EUR Renta Variable Cotizada ES 0.82%
Acciones|NETFLIX INC US64110L1061 · USD Renta Variable Cotizada US 0.79%
Acciones|SHOPIFY INC CA82509L1076 · USD Renta Variable Cotizada CA 0.79%
EUTELSAT COMMUNICATI FR0013422623 · EUR Renta Fija Cotizada Mas 1 Anio FR 0.79%
Acciones|CAIXABANK S.A. ES0140609019 · EUR Renta Variable Cotizada ES 0.78%
Acciones|LOREAL FR0000120321 · EUR Renta Variable Cotizada FR 0.66%
Acciones|GOOGLE INC US02079K1079 · USD Renta Variable Cotizada US 0.66%
Acciones|BARRICK GOLD CORP CA06849F1080 · USD Renta Variable Cotizada CA 0.65%
Acciones|VIDRALA ES0183746314 · EUR Renta Variable Cotizada ES 0.61%
Acciones|GLENCORE PLC JE00B4T3BW64 · GBP Renta Variable Cotizada JE 0.59% 596.80 GBp
Acciones|JOHNSON & JOHNSON US4781601046 · USD Renta Variable Cotizada US 0.59%
OHL GROUP XS2356570239 · EUR Renta Fija Cotizada Menos 1 Anio XS 0.58%
Acciones|CROWDSTRIKE HOLDING INC A US22788C1053 · USD Renta Variable Cotizada US 0.54%
Acciones|MIQUEL Y COSTAS ES0164180012 · EUR Renta Variable Cotizada ES 0.53% 13.25 EUR
Acciones|RHEINMETALL AG DE0007030009 · EUR Renta Variable Cotizada DE 0.52%
Acciones|LOUIS VUITTON MOET FR0000121014 · EUR Renta Variable Cotizada FR 0.49%
Acciones|CANADIAN NATURAL RESOURCES CA1363851017 · CAD Renta Variable Cotizada CA 0.48% 70.81 CAD
Acciones|AMADEUS IT ES0109067019 · EUR Renta Variable Cotizada ES 0.47%
Acciones|VALERO ENERGY CORP US91913Y1001 · USD Renta Variable Cotizada US 0.46%
Acciones|MERCADOLIBRE INC US58733R1023 · USD Renta Variable Cotizada US 0.45%
Acciones|LEONARDO SPA IT0003856405 · EUR Renta Variable Cotizada IT 0.41%
Acciones|REPSOL ES0173516115 · EUR Renta Variable Cotizada ES 0.40%
Acciones|PFIZER INC US7170811035 · USD Renta Variable Cotizada US 0.38%
Acciones|THALES GROUP FR0000121329 · EUR Renta Variable Cotizada FR 0.37%
Acciones|SHELL PLC GB00BP6MXD84 · EUR Renta Variable Cotizada GB 0.36% 3409.50 GBp
Acciones|BAE SYSTEMS GB0002634946 · GBP Renta Variable Cotizada GB 0.36%
Acciones|SCHLUMBERGER LIMITED AN8068571086 · USD Renta Variable Cotizada AN 0.35% 53.87 USD
Acciones|HUBSPOT INC US4435731009 · USD Renta Variable Cotizada US 0.35%
Acciones|VALE US91912E1055 · USD Renta Variable Cotizada US 0.35% 14.59 USD
Acciones|ASML HOLDING NV USN070592100 · USD Renta Variable Cotizada US 0.34%
Acciones|ELECNOR ES0129743318 · EUR Renta Variable Cotizada ES 0.33%
Acciones|NU BANK KYG6683N1034 · USD Renta Variable Cotizada KY 0.33%
Acciones|NOVO NORDISK A/S-B DK0062498333 · DKK Renta Variable Cotizada DK 0.30%
Acciones|BRITISH PETROLEUM GB0007980591 · GBP Renta Variable Cotizada GB 0.29% 549.50 GBp
Acciones|CELSIUS HOLDINGS INC US15118V2079 · USD Renta Variable Cotizada US 0.29%
Acciones|ADVANCED MICRO DEVICES IN US0079031078 · USD Renta Variable Cotizada US 0.28%
Acciones|HALLIBURTON CO US4062161017 · USD Renta Variable Cotizada US 0.26%
Acciones|DUOLINGO US26603R1068 · USD Renta Variable Cotizada US 0.24%
Acciones|TRADE DESK INC US88339J1051 · USD Renta Variable Cotizada US 0.23%
Acciones|ZSCALER INC US98980G1022 · USD Renta Variable Cotizada US 0.20%
Acciones|HELLOFRESH SE DE000A161408 · EUR Renta Variable Cotizada DE 0.20% 2.83 EUR
Acciones|SAMSARA US79589L1061 · USD Renta Variable Cotizada US 0.18%

This period's moves

H2 2025 vs H1 2025 (estimated)

New: 8 Exits: 18 Increases: 5 Cuts: 11
+ INVERSIS

Enters the portfolio at 19.15% weight.

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+ MASMOVIL IBERCOM SA

Enters the portfolio at 1.93% weight.

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+ VOLVO AB

Enters the portfolio at 0.94% weight.

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+ DUFRY ONE BV

Enters the portfolio at 0.92% weight.

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+ EUTELSAT COMMUNICATI

Enters the portfolio at 0.79% weight.

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+ Acciones|BARRICK GOLD CORP

Enters the portfolio at 0.65% weight.

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+ Acciones|DUOLINGO

Enters the portfolio at 0.24% weight.

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+ Acciones|SAMSARA

Enters the portfolio at 0.18% weight.

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− BANCO ALCA

Leaves the portfolio; it was 9.60% of weight.

− Letras del Tesoro

Leaves the portfolio; it was 5.93% of weight.

− MASMOVIL IBERCOM SA

Leaves the portfolio; it was 2.07% of weight.

− Acciones|DEUTSCHE TELEKOM

Leaves the portfolio; it was 0.78% of weight.

− Acciones|SALESFORCE.COM

Leaves the portfolio; it was 0.59% of weight.

− Acciones|GESTAMP GRUPO

Leaves the portfolio; it was 0.50% of weight.

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|META PLATFORMS INC

Leaves the portfolio; it was 0.47% of weight.

Meta Platforms, Inc. engages in the development of products that enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality (VR) headsets, and AI glasses in the United States, Canada, Europe, Asia-Pacific, and internationally. It operates through two segments, Family of Apps (FoA) and Reality Labs (RL). The FoA segment offers Facebook, which enables people to build community through feed, reels, stories, groups, marketplace, and other; Instagram that brings people closer through Instagram feed, stories, reels, live, and messaging; Messenger, a messaging application for people to connect with friends, family, communities, and businesses across platforms and devices through text, audio, and video calls; Meta AI, an assistant that's available across apps, as a stand-alone app, on AI glasses, and on the web; Threads, an application for text-based updates and public conversations; and WhatsApp, a messaging application that is used by people and businesses to communicate and transact. The RL segment provides virtual and augmented reality products, including consumer hardware, software, and content that help people feel connected, as well as Meta Quest devices that enable social experiences across gaming, fitness, entertainment, and more. The segment also includes wearables such as AI glasses like Ray Ban Meta and Oakley Meta glasses; and the Meta Ray Ban Display, which combines AI glasses with an integrated lens display and the Meta Neural Band, a wrist worn device using electromyography that lets people control their AI glasses through neuromuscular signals. Meta Platforms, Inc. has a collaboration with Microsoft Corporation, NVIDIA Corporation, Advanced Micro Devices, Inc., Broadcom Inc., and OpenAI, L.L.C. The company was formerly known as Facebook, Inc. and changed its name to Meta Platforms, Inc. in October 2021. The company was incorporated in 2004 and is headquartered in Menlo Park, California.

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− Acciones|EVOLUTION GAMING GROUP

Leaves the portfolio; it was 0.41% of weight.

− Acciones|ADOBE INC

Leaves the portfolio; it was 0.39% of weight.

− Acciones|AT&T

Leaves the portfolio; it was 0.38% of weight.

− Acciones|ARCELORMITTAL, S.A.

Leaves the portfolio; it was 0.30% of weight.

ArcelorMittal S.A., together with its subsidiaries, operates as integrated steel and mining companies in the Americas, Europe, Asia, and Africa. It offers semi-finished flat products, including slabs; finished flat products comprising plates, hot- and cold-rolled coils and sheets, hot-dipped and electro-galvanized coils and sheets, tinplate, and color coated coils and sheets; semi-finished long products, such as blooms and billets; finished long products consisting of bars, wire-rods, structural sections, rails, sheet piles, and wire-products; and seamless and welded pipes and tubes. The company also provides mining products, such as iron ore lumps, fines, concentrate, pellets, and sinter feeds; and coking coal. It sells its products to various customers in the automotive, appliance, engineering, construction, energy, and machinery industries through a centralized marketing organization, and distributors. The company operates iron ore mining activities in Brazil, Bosnia, Liberia, Mexico, South Africa, and Ukraine, as well as in India and in Canada. ArcelorMittal S.A. was founded in 1976 and is headquartered in Luxembourg, Luxembourg.

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− Acciones|ACERINOX

Leaves the portfolio; it was 0.30% of weight.

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.

− Acciones|BLOCK INC

Leaves the portfolio; it was 0.28% of weight.

− Acciones|ROLLINS

Leaves the portfolio; it was 0.28% of weight.

− Acciones|ENDERED

Leaves the portfolio; it was 0.27% of 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|VERIZON COMMUNICATIONS INC

Leaves the portfolio; it was 0.24% of weight.

− Acciones|CONSTELLATION BRANDS

Leaves the portfolio; it was 0.21% of weight.

− Acciones|ATLASSIAN

Leaves the portfolio; it was 0.15% of weight.

▲ Acciones|INVESCO

Goes from 8.65% to 10.66%.

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▲ Acciones|JOHNSON & JOHNSON

Goes from 0.24% to 0.59%.

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▲ Acciones|ELI LILLY & CO

Goes from 0.88% to 1.13%.

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▲ Acciones|VISCOFAN

Goes from 0.58% to 0.82%.

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▲ Acciones|NU BANK

Goes from 0.11% to 0.33%.

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▼ Acciones|BANKINTER

Goes from 1.47% to 0.90%.

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▼ Acciones|MICROSOFT CP WASH

Goes from 1.31% to 0.82%.

Microsoft Corporation, a technology company, develops and supports a portfolio of technology solutions for individuals and businesses worldwide. It operates through three segments: Productivity and Business Processes, Intelligent Cloud, and More Personal Computing. The Productivity and Business Processes segment offers Microsoft 365 Commercial, Enterprise Mobility + Security, Power BI, Exchange, SharePoint, Microsoft Teams, Microsoft 365 Security and Compliance, Microsoft 365 Copilot, and Windows Commercial on-premises and Office licensed on-premises. This segment also provides Microsoft 365 Consumer products and cloud services; LinkedIn, including talent solutions, marketing solutions, subscriptions, and sales solutions; Dynamics 365, a set of cloud-based applications; and on-premises ERP and CRM applications. The Intelligent Cloud segment offers server products and cloud services; cloud and AI consumption-based services, GitHub cloud services, health and life sciences cloud services, as well as virtual desktop offerings, and other cloud services; SQL Server, Windows Server, Visual Studio, System Center, and related client access licenses; and enterprise support services, industry solutions, Microsoft partner network, and learning experience. The More Personal Computing segment provides Windows OEM licensing and devices comprising Surface and PC accessories; XBOX hardware, and XBOX first- and third-party content and services; XBOX Game Pass and other subscriptions; XBOX Cloud Gaming, advertising, and other cloud services; and search advertising consisting of Bing, Copilot, Microsoft News, Microsoft Edge, and third-party affiliates. It sells its products through partners and retail networks. The company was founded in 1975 and is headquartered in Redmond, Washington.

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▼ Acciones|CANADIAN NATURAL RESOURCES

Goes from 0.96% to 0.48%.

Canadian Natural Resources Limited engages in the acquisition, exploration, development, production, marketing, and sale of crude oil, natural gas, and natural gas liquids (NGLs) in Western Canada, the United Kingdom sector of the North Sea, and Offshore Africa. The company offers synthetic crude oil (SCO), mining bitumen, light and medium crude oil and NGLs, thermal bitumen, primary heavy crude oil and Pelican Lake heavy crude oil. Its midstream assets include two crude oil pipeline systems; and a 50% working interest in an 84-megawatt cogeneration plant at Primrose. The company was formerly known as AEX Minerals Corporation and changed its name to Canadian Natural Resources Limited in December 1975. Canadian Natural Resources Limited was incorporated in 1973 and is headquartered in Calgary, Canada.

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▼ Acciones|CAIXABANK S.A.

Goes from 1.22% to 0.78%.

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▼ Acciones|NETFLIX INC

Goes from 1.22% to 0.79%.

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▼ Acciones|SHELL PLC

Goes from 0.76% to 0.36%.

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|GOOGLE INC

Goes from 1.04% to 0.66%.

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▼ Acciones|VALERO ENERGY CORP

Goes from 0.82% to 0.46%.

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▼ Acciones|SCHLUMBERGER LIMITED

Goes from 0.65% to 0.35%.

SLB N.V. engages in the provision of technology for the energy industry worldwide. The company operates through four divisions: Digital & Integration, Reservoir Performance, Well Construction, and Production Systems. The company provides field development and hydrocarbon production, carbon management, and integration of adjacent energy systems; reservoir interpretation and data processing services for exploration data; and well construction and production improvement services and products. It also offers subsurface geology and fluids evaluation information; stimulation services to restore or enhance well productivity through hydraulic fracturing, matrix stimulation, and water treatment; and intervention services to oil and gas operators. In addition, the company offers mud logging, directional drilling, measurement-while-drilling, and logging-while-drilling services, as well as engineering support services; supplies drilling fluid systems; designs, manufactures, and markets roller cone and fixed cutter drill bits; bottom-hole-assembly and borehole enlargement technologies; well planning, well drilling, engineering, supervision, logistics, procurement, and contracting of third parties, as well as drilling rig management solutions; and drilling equipment and services, as well as land drilling rigs and related services. Further, it provides artificial lift; supplies packers, safety valves, sand control technology, and various intelligent systems; midstream production systems; valves, chokes, actuators, and surface trees; and OneSubsea, an integrated solutions, products, systems, and services, including wellheads, subsea trees, manifolds and flowline connectors, control systems, connectors, and services. SLB N.V. was formerly known as Schlumberger Limited and change its name to SLB N.V. in October 2025. The company was founded in 1926 and is based in Houston, Texas.

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▼ Acciones|REPSOL

Goes from 0.67% to 0.40%.

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▼ Acciones|BRITISH PETROLEUM

Goes from 0.53% to 0.29%.

BP p.l.c., an integrated energy company, engages in the oil and gas business worldwide. The company operates through Gas & Low Carbon Energy, Oil Production & Operations, and Customers & Products segments. It engages in the production of natural gas, marketing, and trading activities, as well as solar, wind, and hydrogen businesses. The company also offers aviation fuel products and services, such as jet fuel; aviation gasoline; UL91 aviation fuel; and sustainable aviation fuel. In addition, it engages in the convenience and retail fuel; EV charging; Castrol lubricants and fluids; B2B; midstream; crude oil production; refining and oil trading; and bioenergy businesses. The company was founded in 1908 and is headquartered in London, the United Kingdom.

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Fixed income

Declared FI exposure
9.9 M €
% of portfolio
39.3%
Positions
12
Issuers
10
Sovereign: 1.2 M € Corporate: 3.8 M € Repos / treasury management: 4.8 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.

Matured or ≤3 months · 22.5%6-12 months · 9.6%1-2 years · 39.5%2-5 years · 17.6%5-10 years · 10.9%
Maturity Positions Exposure %
Matured or ≤3 months 3 1.1 M € 22.5%
3-6 months 0 0 € 0.0%
6-12 months 1 484,130 € 9.6%
1-2 years 4 2.0 M € 39.5%
2-5 years 2 890,936 € 17.6%
5-10 years 1 550,734 € 10.9%
> 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
United States Treasury Sovereign 2 1.2 M € 2030-01-15
RA SECURITIES SARL Corporate 1 1.0 M € 2027-08-01
SACYR SA Corporate 1 515,486 € 2027-04-02
BANCO SANTANDER CENT Corporate 1 499,757 € 2026-01-16
CEPSA Corporate 1 491,070 € 2026-02-13
Masmovil Ibercom Corporate 1 484,130 € 2026-07-13
VOLVO Corporate 1 235,723 € 2027-10-07
DUFRY ONE BV Corporate 1 230,573 € 2028-04-15
EUTELSAT COMMUNICATI Corporate 1 197,424 € 2027-07-13
OHL GROUP Corporate 1 145,251 € 2026-03-31

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
XS2861031891 RA SECURITIES SARL 6.00% 2027-08-01 1.0 M €
US912828Z377 United States Treasury 0.12% 2030-01-15 660,363 €
US91282CLW90 United States Treasury 4.25% 2034-11-15 550,734 €
XS2784661675 SACYR SA 5.80% 2027-04-02 515,486 €
XS2575952424 BANCO SANTANDER CENT 3.75% 2026-01-16 499,757 €
XS2202744384 CEPSA 2.25% 2026-02-13 491,070 €
ES05846961K0 Masmovil Ibercom 3.47% 2026-07-13 484,130 €
XS2240978085 VOLVO 2.50% 2027-10-07 235,723 €
XS2333564503 DUFRY ONE BV 3.38% 2028-04-15 230,573 €
FR0013422623 EUTELSAT COMMUNICATI 2.25% 2027-07-13 197,424 €

Currencies

Fixed-income exposure by instrument currency.

Currency Exposure %
EUR 8.7 M € 87.7%
USD 1.2 M € 12.3%

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: 4 Exits at maturity: 2 Exits not explained by maturity: 0
+ MASMOVIL IBERCOM SA

Enters the portfolio at 1.93% weight.

+ VOLVO AB

Enters the portfolio at 0.94% weight.

+ DUFRY ONE BV

Enters the portfolio at 0.92% weight.

+ EUTELSAT COMMUNICATI

Enters the portfolio at 0.79% weight.

◦ Letras del Tesoro

Leaves the portfolio; it was 5.93% of weight.

◦ MASMOVIL IBERCOM SA

Leaves the portfolio; it was 2.07% 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.