Manager
SINGULAR ASSET MANAGEMENT, SGIIC, S.A.
See the CNMV manager universe →
Fund page
GAMMA GLOBAL, FI
Category
—
Latest period
H2 2025
Positions
80
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.
80
Company
Type
Country
Weight
Price
This period's moves
H2 2025 vs H1 2025 (estimated)
New: 25
Exits: 21
Increases: 9
Cuts: 31
+ Acciones|PLUXEE N.V.
Enters the portfolio at 0.68% 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.
View company page →+ Acciones|ASMODEE GROUP
Enters the portfolio at 0.63% weight.
Asmodee Group AB (publ) engages in publishing and distribution of tabletop games. The company offers board games, trading card games, and various other type of games played on or around table. Its portfolio includes CATAN, Ticket to Ride, Dobble/Spot-it!, 7 Wonders, and Exploding Kittens. The company also establishes third-party licensing and/or distribution collaborations with entertainment franchises and third-party IP owners. It operates in Sweden, France, Germany, the United States, the United Kingdom, rest of the Americas, rest of Europe, and internationally. The company was founded in 1995 and is based in Karlstad, Sweden.
View company page →+ Acciones|KINEPOLIS
Enters the portfolio at 0.61% weight.
Kinepolis Group NV operates and manages cinemas in Belgium, Canada, France, the Netherlands, the United States, Spain, Luxembourg, and Switzerland. The company operates cinema complexes under the KINEPOLIS, Landmark Cinemas, MJR THEATRES, and Emagine Entertainment brands. It also offers beverages, snacks, and non-food items within cinema complexes; and a range of media channels, which allow businesses to connect with audiences. In addition, the company is involved in hosting corporate events, conferences, and private screenings; in-theatre advertising; and film distribution. The company was incorporated in 1976 and is based in Brussels, Belgium.
View company page →+ Acciones|NASPERS LTD-N SHS
Enters the portfolio at 0.54% weight.
Prosus N.V. engages in the e-commerce and internet businesses in Asia, Europe, Latin America, North America, and internationally. It operates internet platforms, such as classifieds, payments and fintech, etail, food delivery, education technology, Etail, ventures, tencent, and other platforms. It also provides online food delivery service. The company was formerly known as Myriad International Holdings N.V. and changed its name to Prosus N.V. Prosus N.V. was incorporated in 1994 and is headquartered in Amsterdam, the Netherlands.
View company page →+ Acciones|PARADOX
Enters the portfolio at 0.51% weight.
Paradox Interactive AB (publ) develops and publishes strategy and management games on PC and consoles in the United States, Rest of Europe, Sweden, and internationally. The company's game portfolio comprises various franchises, such as Age of Wonders, Cities: Skylines, Crusader Kings, Europa Universalis, Hearts of Iron, Prison Architect, Stellaris, the Surviving games, and Victoria, as well as World of Darkness brand. Paradox Interactive AB (publ) was founded in 1999 and is headquartered in Stockholm, Sweden.
View company page →− CECA
Leaves the portfolio; it was 17.94% of weight.
− INTERNATIONAL PETROL
Leaves the portfolio; it was 7.36% of weight.
− PROSUS NV
Leaves the portfolio; it was 2.29% of weight.
− EMBRACER GROUP
Leaves the portfolio; it was 1.99% of weight.
− LINK MOBILITY GROUP
Leaves the portfolio; it was 1.55% of weight.
− EURONAV LUXEMBOURG S
Leaves the portfolio; it was 1.36% of weight.
− SACYR INTL
Leaves the portfolio; it was 1.22% of weight.
− OKEA AS
Leaves the portfolio; it was 1.09% of weight.
− TIDEWATER INC
Leaves the portfolio; it was 0.66% of weight.
− DANAOS CORPORATION
Leaves the portfolio; it was 0.55% of weight.
− PROTECTOR FORSIKRING
Leaves the portfolio; it was 0.43% of weight.
− GAM HOLDING AG
Leaves the portfolio; it was 0.43% of weight.
− BASIC-FIT NV
Leaves the portfolio; it was 0.34% of weight.
− FAIRFAX FIANACIAL HO
Leaves the portfolio; it was 0.27% of weight.
− UBISOFT ENTERTAINMEN
Leaves the portfolio; it was 0.25% of weight.
− AMERICAN COASTAL INS
Leaves the portfolio; it was 0.22% of weight.
− Acciones|SALMAR ASA
Leaves the portfolio; it was 0.21% of weight.
SalMar ASA, an aquaculture company, produces and sells farmed salmon in Norway, Asia, Europe, North America, and internationally. The company operates through Fish Farming Central Norway, Fish Farming Northern Norway, Icelandic Salmon, Sales & Industry, and SalMar Aker Ocean segments. It also engages in the broodstock, marine-phase farming, harvesting, processing, and smolt production activities. In addition, the company offers fish fillets and related products. SalMar ASA was incorporated in 1991 and is headquartered in Kverva, Norway.
− PANDION ENERGY AS
Leaves the portfolio; it was 0.15% of weight.
− CANACOL ENERGY LTD
Leaves the portfolio; it was 0.14% of weight.
− Acciones|TALGO SA
Leaves the portfolio; it was 0.10% of weight.
Talgo, S.A. engages in design, manufacture, and maintenance of railway and auxiliary machinery for the maintenance of railway systems rolling stock worldwide. It provides high speed, intercity, commuter and regional, and locomotive railway products. The company is also involved in the manufacture, delivery, and maintenance of commercialized rolling stock, auxiliary and other, machines, such as pit lathes, measuring equipment, and shunting cars, as well as rolling stock renovations/remodelling. The company was formerly known as Pegaso Rail International, S.A. Talgo, S.A. was founded in 1942 and is headquartered in Madrid, Spain.
− OKEA AS
Leaves the portfolio; it was 0.10% of weight.
▲ Acciones|NAGACORP LTD
Goes from 0.21% to 0.51%.
NagaCorp Ltd., an investment holding company, engages in the management and operation of a hotel and casino complex in the Kingdom of Cambodia. It operates through two segments, Casino Operations; and Hotel and Entertainment Operations. The company owns, manages, and operates NagaWorld, an integrated hotel and entertainment complex that consists of gaming tables, electronic gaming machines, public gaming areas, VIP referral halls, suites and rooms, food and beverage outlets, a live performance venue, event spaces, and a shopping mall. It also engages in the provision of management consulting; management of aircraft; transportation support activities; travel agency services; and employment placement agency services. In addition, it is involved in property development and investment activities; and the operation of a retail business and a football club. Further, the company manages NagaCity Walk project; and engages in culture tourism center activities. NagaCorp Ltd. was founded in 1995 and is based in Phnom Penh, the Kingdom of Cambodia.
View company page →▲ Acciones|ZEGONA COMMUNICATIONS PLC
Goes from 0.33% to 0.54%.
Zegona Communications plc engages in the provision of integrated telecommunications services in Spain. The company offers broadband, mobile, TV, voice, data, and other value-added products and services. It serves business-to-consumer and business-to-business markets. The company was incorporated in 2015 and is based in London, the United Kingdom. Zegona Communications plc operates as a subsidiary of Ejlshm Funding Limited.
View company page →▼ Acciones|GOLAR LNG
Goes from 1.00% to 0.65%.
Golar LNG Limited designs, converts, owns, and operates marine infrastructure for the liquefaction of natural gas. The company operates in two segments, FLNG, and Corporate and Other. It engages in the regasification, storage, and liquefied natural gas (LNG) carrier transportation operations; operation of floating liquefaction natural gas (FLNG) vessels or projects; transportation of LNG carriers; and vessel management activities. The company was founded in 1946 and is headquartered in Hamilton, Bermuda.
View company page →Fixed income
Declared FI exposure
246.9 M €
% of portfolio
84.1%
Positions
68
Issuers
59
Sovereign: 0 €
Corporate: 246.9 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.
3-6 months · 0.8%6-12 months · 3.0%1-2 years · 11.0%2-5 years · 78.4%5-10 years · 2.1%> 10 years · 4.8%
Maturity
Positions
Exposure
%
Matured or ≤3 months
0
0 €
0.0%
3-6 months
1
2.0 M €
0.8%
6-12 months
4
7.4 M €
3.0%
1-2 years
4
27.1 M €
11.0%
2-5 years
54
193.4 M €
78.4%
5-10 years
3
5.1 M €
2.1%
> 10 years
2
11.9 M €
4.8%
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
KOSMOS ENERGY LTD
Corporate
4
22.7 M €
2026-04-04
GOLAR LNG LTD
Corporate
2
14.7 M €
2029-09-19
KINETICS ADVISERS LL
Corporate
1
14.2 M €
2029-11-13
NAVIOS MARITIME
Corporate
1
13.6 M €
2030-11-07
KISTOS HOLDING
Corporate
2
13.4 M €
2026-09-17
INTERNATIONAL PETROL
Corporate
1
12.3 M €
2030-10-10
DNO ASA
Corporate
3
10.7 M €
2029-06-04
BLUENORD
Corporate
2
10.1 M €
2029-07-02
NAVIOS SOUTH AMERICA
Corporate
1
8.8 M €
2030-07-14
PARATUS ENERGY
Corporate
2
8.6 M €
2026-07-15
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
NO0013685131 KINETICS ADVISERS LL
4.94%
2029-11-13
14.2 M €
NO0013685115 NAVIOS MARITIME
3.88%
2030-11-07
13.6 M €
NO0013671107 INTERNATIONAL PETROL
3.75%
2030-10-10
12.3 M €
USU5007TAD73 KOSMOS ENERGY LTD
3.88%
2027-05-01
12.3 M €
USG4023LAD31 GOLAR LNG LTD
3.75%
2030-10-02
10.6 M €
NO0013606418 NAVIOS SOUTH AMERICA
4.44%
2030-07-14
8.8 M €
NO0011142036 KISTOS HOLDING
10.25%
2027-11-10
8.3 M €
NO0013215509 YINSON PRODUCTION OF
4.81%
2029-05-03
7.8 M €
NO0013603084 BLUENORD
6.00%
2085-07-10
7.7 M €
NO0013607028 PERFORMANCE SHIPPNG
4.94%
2029-07-17
7.1 M €
Currencies
Fixed-income exposure by instrument currency.
Currency
Exposure
%
USD
187.8 M €
76.1%
EUR
59.0 M €
23.9%
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: 20
Exits at maturity: 0
Exits not explained by maturity: 18
+ KINETICS ADVISERS LL
Enters the portfolio at 4.82% weight.
+ NAVIOS MARITIME
Enters the portfolio at 4.63% weight.
+ INTERNATIONAL PETROL
Enters the portfolio at 4.19% weight.
+ GOLAR LNG
Enters the portfolio at 3.62% weight.
+ NAVIOS SOUTH AMERICA
Enters the portfolio at 3.01% weight.
+ BLUENORD
Enters the portfolio at 2.62% weight.
+ PERFORMANCE SHIPPNG
Enters the portfolio at 2.41% weight.
+ KOSMOS ENERGY
Enters the portfolio at 2.08% weight.
+ GREENALIA SA
Enters the portfolio at 2.05% weight.
+ EURO ENTERTAIMENT IN
Enters the portfolio at 1.84% weight.
+ DEAG DEUTSCHE ENTERT
Enters the portfolio at 1.33% weight.
+ TIDEWATER INC
Enters the portfolio at 1.30% weight.
+ ENQUEST PLC
Enters the portfolio at 1.18% weight.
+ ARLES I BV
Enters the portfolio at 1.12% weight.
+ CONTSHIPS
Enters the portfolio at 1.11% weight.
+ AONIC AB
Enters the portfolio at 1.04% weight.
+ JDC GROUP AG
Enters the portfolio at 0.90% weight.
+ AIRX GROUP HOLDINGS
Enters the portfolio at 0.83% weight.
+ TS SHIPPING
Enters the portfolio at 0.58% weight.
+ DOF GROUP ASA
Enters the portfolio at 0.30% weight.
− INTERNATIONAL PETROL
Leaves the portfolio; it was 7.36% of weight.
− PROSUS NV
Leaves the portfolio; it was 2.29% of weight.
− EMBRACER GROUP
Leaves the portfolio; it was 1.99% of weight.
− LINK MOBILITY GROUP
Leaves the portfolio; it was 1.55% of weight.
− EURONAV LUXEMBOURG S
Leaves the portfolio; it was 1.36% of weight.
− SACYR INTL
Leaves the portfolio; it was 1.22% of weight.
− OKEA AS
Leaves the portfolio; it was 1.09% of weight.
− TIDEWATER INC
Leaves the portfolio; it was 0.66% of weight.
− DANAOS CORPORATION
Leaves the portfolio; it was 0.55% of weight.
− PROTECTOR FORSIKRING
Leaves the portfolio; it was 0.43% of weight.
− GAM HOLDING AG
Leaves the portfolio; it was 0.43% of weight.
− BASIC-FIT NV
Leaves the portfolio; it was 0.34% of weight.
− FAIRFAX FIANACIAL HO
Leaves the portfolio; it was 0.27% of weight.
− UBISOFT ENTERTAINMEN
Leaves the portfolio; it was 0.25% of weight.
− AMERICAN COASTAL INS
Leaves the portfolio; it was 0.22% of weight.
− PANDION ENERGY AS
Leaves the portfolio; it was 0.15% of weight.
− CANACOL ENERGY LTD
Leaves the portfolio; it was 0.14% of weight.
− OKEA AS
Leaves the portfolio; it was 0.10% 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.