Manager
INVERSIS GESTIÓN, S.A., SGIIC
See the CNMV manager universe →
Fund page
DIRECTOR GROWTH, FI
Category
—
Latest period
H2 2025
Positions
63
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.
63
Company
Type
Country
Weight
Price
This period's moves
H2 2025 vs H1 2025 (estimated)
New: 33
Exits: 45
Increases: 5
Cuts: 3
+ ACCIONES|Almirall SA
Enters the portfolio at 0.98% weight.
Almirall, S.A. operates as a skin health-focused biopharmaceutical company in Spain, Europe, the Middle East, the United States, Asia, and Africa. The company offers its products for skin diseases comprising Psoriasis, atopic dermatitis, acne, actinic keratosis, onychomycosis, androgenic alopecia, oncodermatology, and orphan indications, as well as for alimentary tract and metabolism, anti-infective for systemic use, cardiovascular system, dermatological, genito urinary system and sex hormones, immunostimulants, metabolism, musculo-skeletal system, nervous system, respiratory system, systemic hormonal preparations. It also develops tirbanibulin for actinic keratosis, and tildrakizumab for psoriatic arthritis under the registration phase, as well as lebrikizumab for atopic dermatitis pediatric in phase 2; Anti-IL-1RAP mAb for hidradenitis suppurativa, anti-IL-1RAP mAb for inflammatory skin disease, Anti-IL-21 mAb for hidradenitis suppurativa, IL-2muFc for alopecia areata, IL-2muFc for atopic dermatitis, and IL-2muFc for inflammatory skin disease in phase 2; readthrough inducer for rare dermatology in phase 1; and anti-IL-13/OX40L BsAb for atopic dermatitis, SMOL oral for Th2-driven diseases, and mRNA/LNP for non-melanoma skin cancer in preclinical stage. It has research and development agreements with Evotec, Ichnos, Simcere, Etherna, Novo Nordisk, and Eloxx. The company was formerly known as Laboratorios Almirall, S.A. and changed its name to Almirall, S.A. in May 2009. Almirall, S.A. was founded in 1943 and is headquartered in Barcelona, Spain.
View company page →− BANCO INVERSIS, S.A.
Leaves the portfolio; it was 3.66% of weight.
− ACCIONES|Pop Mart Internation
Leaves the portfolio; it was 3.53% of weight.
− ACCIONES|Rolls-Royce Group pl
Leaves the portfolio; it was 2.86% of weight.
Rolls-Royce Holdings plc designs and manages mission-critical power systems in the United Kingdom and internationally. The company operates through three segments: Civil Aerospace, Defence, and Power Systems. The Civil Aerospace segment develops, manufactures, markets, and sells aero engines for large commercial aircraft, regional jet, and business aviation markets, as well as provides aftermarket services. The Defence segment is involved in the development, manufacture, marketing, and sale of military aero engines, naval engines, and submarine nuclear power plants, as well as offers aftermarket services. The Power Systems segment engages in the development, manufacture, marketing, and sale of integrated solutions for onsite power and propulsion under the mtu brand name. Rolls-Royce Holdings plc was founded in 1884 and is headquartered in London, the United Kingdom.
View company page →− ACCIONES|Technology One Ltd
Leaves the portfolio; it was 2.33% of weight.
− ACCIONES|Carvana Co
Leaves the portfolio; it was 1.92% of weight.
− ACCIONES|Pro Medicus Ltd
Leaves the portfolio; it was 1.89% of weight.
− ACCIONES|Evolucion Mining LTD
Leaves the portfolio; it was 1.64% of weight.
− ACCIONES|Accs. Sanrio Company
Leaves the portfolio; it was 1.51% of weight.
− ACCIONES|IBERDROLA
Leaves the portfolio; it was 1.42% of weight.
− ACCIONES|Wal-Mart Stores
Leaves the portfolio; it was 1.37% of weight.
− ACCIONES|Sea LTD-ADR
Leaves the portfolio; it was 1.37% of weight.
− ACCIONES|FREEDOM HOLDING CORP
Leaves the portfolio; it was 1.21% of weight.
− ACCIONES|Agricultural Bk Chin
Leaves the portfolio; it was 1.04% of weight.
− ACCIONES|FinVolution Group
Leaves the portfolio; it was 1.03% of weight.
− ACCIONES|SGH Ltd
Leaves the portfolio; it was 0.99% of weight.
− ACCIONES|NEC Corp
Leaves the portfolio; it was 0.99% of weight.
− ACCIONES|Palantir Technologie
Leaves the portfolio; it was 0.97% of weight.
− ACCIONES|AT&T
Leaves the portfolio; it was 0.96% of weight.
− ACCIONES|JB Hi-FI Ltd
Leaves the portfolio; it was 0.96% of weight.
− ACCIONES|Sumitomo Mitsui Fina
Leaves the portfolio; it was 0.92% of weight.
− ACCIONES|Relax PLC
Leaves the portfolio; it was 0.92% of weight.
− ACCIONES|Sony Corp
Leaves the portfolio; it was 0.91% of weight.
− ACCIONES|GOLD ROAD RESOURCES
Leaves the portfolio; it was 0.90% of weight.
− ACCIONES|Tokio Marine Holding
Leaves the portfolio; it was 0.88% of weight.
− ACCIONES|CHINA CITIC BANK COR
Leaves the portfolio; it was 0.76% of weight.
− ACCIONES|Banca Intesa San Pao
Leaves the portfolio; it was 0.71% of weight.
− ACCIONES|NATWEST GROUP PLC
Leaves the portfolio; it was 0.53% of weight.
− ACCIONES|Nvidia Corp
Leaves the portfolio; it was 0.53% of weight.
− ACCIONES|Netflix, Inc.
Leaves the portfolio; it was 0.52% of weight.
− ACCIONES|DEUTSCHE BANK
Leaves the portfolio; it was 0.50% of weight.
Deutsche Bank Aktiengesellschaft, a stock corporation, provides corporate and investment banking, private clients, and asset management products and services in Germany, the United Kingdom, the rest of Europe, the Americas, the Asia-Pacific, the Middle East, and Africa. It operates through Corporate Bank, Investment Bank, Private Bank, and Asset Management segments. The Corporate Bank segment offers cash management services, such as integrated payments and FX solutions; trade finance and lending offerings, including documentary and guarantee business, and structured trade finance and lending; and depository receipts, corporate trust, document custody, and securities services. The Investment Bank segment provides financing solutions in industries and asset classes; institutional sales, trading, and structuring in foreign exchange, rates, emerging markets, and credit trading; liquidity, market making services, and specialized risk management solutions for fixed income and currencies products; and advisory and financial products and services. This segment is also involved in the mergers and acquisitions business; and capital markets businesses in debt and equity. The Private Bank segment offers a range of payment and account services, and credit and deposit products, as well as investment advice, and postal and parcel services; and planning, managing and investing wealth, financing personal and business interests, and servicing institutional and corporate needs. The Asset Management segment provides access to investment capabilities in active and passive asset classes comprising Xtrackers range and alternatives; and access to private equity, private credit, real estate, and infrastructure. Deutsche Bank Aktiengesellschaft was incorporated in 1870 and is headquartered in Frankfurt am Main, Germany.
View company page →− ACCIONES|BARCLAYS BANK
Leaves the portfolio; it was 0.48% of 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.
View company page →− ACCIONES|Imperial Brands PLC
Leaves the portfolio; it was 0.48% of weight.
Imperial Brands PLC, together with its subsidiaries, manufactures, imports, markets, and sells tobacco and tobacco-related products in Europe, the Americas, Africa, the Asia, Australasia, and internationally. It offers a range of cigarettes, tobacco accessories, vapour, heated tobacco, and oral nicotine. The company sells its products under various brands, including JPS, Davidoff, Gauloises, West, Winston, Kool, Lambert & Butler, P&S, Fortuna, Nobel, News, Backwoods, Champion, Golden Virginia, FINE, Rizla, Blu, Pulze, Skruf, and Zone. In addition, it engages in the distribution of tobacco and NGP products for tobacco and NGP product manufacturers; and various non-tobacco and NGP products and services. Further, the company is involved in the management of a golf course; distribution of pharmaceuticals, POS software, and published materials and other products; printing and publishing activities; and provision of long haul transportation, industrial parcel and express delivery, pharmaceutical products logistics, advertising, payment, freight forwarding, and support management services, as well as owns the trademarks; and retails its products. Additionally, it engages in edition and distribution of books and non-periodical publication. Furthermore, the company is involved in research and development of e-vapour products. The company was formerly known as Imperial Tobacco Group PLC and changed its name to Imperial Brands PLC in February 2016. Imperial Brands PLC was founded in 1636 and is based in Bristol, the United Kingdom.
View company page →− ACCIONES|SAP - AG
Leaves the portfolio; it was 0.47% of weight.
− ACCIONES|Poste Italiane Spa
Leaves the portfolio; it was 0.47% of weight.
− ACCIONES|CAIXABANK
Leaves the portfolio; it was 0.47% of weight.
− ACCIONES|Euronext NV
Leaves the portfolio; it was 0.46% of weight.
− ACCIONES|EVN AG
Leaves the portfolio; it was 0.45% of weight.
− ACCIONES|Aena
Leaves the portfolio; it was 0.45% of weight.
− ACCIONES|ASSIC.GENERALI
Leaves the portfolio; it was 0.45% of weight.
− ACCIONES|Kongsberg Gruppen AS
Leaves the portfolio; it was 0.40% of weight.
− ACCIONES|Becton Dickinson
Leaves the portfolio; it was 0.09% of weight.
− ACCIONES|Match Group INC
Leaves the portfolio; it was 0.08% of weight.
− ACCIONES|Brown-Forman
Leaves the portfolio; it was 0.06% of weight.
− ACCIONES|Bumble Inc
Leaves the portfolio; it was 0.05% of weight.
▲ ACCIONES|HeidelbergCement AG
Goes from 0.55% to 5.36%.
Heidelberg Materials AG, together with its subsidiaries, produces and distributes cement, aggregates, ready-mixed concrete, and asphalt worldwide. The company provides cement products; natural stone aggregates, including sand and gravel; crushed aggregates comprising stone chippings and crushed stones; and ready-mixed concrete for use in the construction of tunnels or bridges, office buildings, or schools, as well as to produce precast concrete parts, such as stairs, ceiling elements, or structural components. It also offers asphalt; and trades in cement, clinker, secondary cementitious materials, solid, alternative fuels, other building materials, and additives. The company was formerly known as HeidelbergCement AG and changed its name to Heidelberg Materials AG in May 2023. Heidelberg Materials AG was founded in 1873 and is headquartered in Heidelberg, Germany.
View company page →Fixed income
Declared FI exposure
435,576 €
% of portfolio
13.1%
Positions
1
Issuers
0
Sovereign: 0 €
Corporate: 0 €
Repos / treasury management: 435,576 €
Maturity ladder
Observed contractual maturity of each position, repos excluded. Matured/≤3 months includes bonds maturing in the first days after the period close.
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
0
0 €
0.0%
5-10 years
0
0 €
0.0%
> 10 years
0
0 €
0.0%
Unknown
0
0 €
0.0%
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.