Manager
GVC GAESCO GESTIÓN, SGIIC, S.A.
See the CNMV manager universe →
Fund page
GVC GAESCO CROSSOVER, FI
Category
—
Latest period
H2 2025
Positions
38
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.
38
Company
Type
Country
Weight
Price
This period's moves
H2 2025 vs H1 2025 (estimated)
New: 21
Exits: 26
Increases: 3
Cuts: 9
− Acciones|MICROSOFT CORP
Leaves the portfolio; it was 8.26% of weight.
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.
− Acciones|SERVICENOW
Leaves the portfolio; it was 4.27% of weight.
− Acciones|RUBRIK INC
Leaves the portfolio; it was 3.31% of weight.
− Acciones|AEDAS HOMES SAU
Leaves the portfolio; it was 3.22% of weight.
− Acciones|CROWSATRIKE HOLDINGS INC A
Leaves the portfolio; it was 3.06% of weight.
− Acciones|ARM HOLDINGS PLC
Leaves the portfolio; it was 2.94% of weight.
− Acciones|NVIDIA CORP.
Leaves the portfolio; it was 2.92% of weight.
− Acciones|BROADCOM LTD
Leaves the portfolio; it was 2.86% of weight.
− Acciones|PALANTIR TECHNOLOGIES A
Leaves the portfolio; it was 2.64% of weight.
− Acciones|INTL BUSINESS MACHINES CORP
Leaves the portfolio; it was 2.18% of weight.
− Acciones|RED ELÉCTRICA
Leaves the portfolio; it was 2.03% of weight.
− Acciones|PALO ALTO NETWORK
Leaves the portfolio; it was 1.70% of weight.
− Acciones|TWILIO A
Leaves the portfolio; it was 1.49% of weight.
− Acciones|BOEING
Leaves the portfolio; it was 1.45% of weight.
− Acciones|FORTINET INC
Leaves the portfolio; it was 1.37% of weight.
− Acciones|REDES ENERGETICAS NACIONAIS
Leaves the portfolio; it was 1.32% of weight.
− Acciones|ZSCALER
Leaves the portfolio; it was 1.30% of weight.
− Acciones|COINBASE GLOBAL CLASS A
Leaves the portfolio; it was 1.29% of weight.
− Acciones|QUANTUM COMPUTING
Leaves the portfolio; it was 0.88% of weight.
− Acciones|FANUC
Leaves the portfolio; it was 0.76% of weight.
− Acciones|KEYENCE CORP
Leaves the portfolio; it was 0.75% of weight.
− Acciones|C3 AI INC A
Leaves the portfolio; it was 0.68% of weight.
− Acciones|AURORA INNOVATION
Leaves the portfolio; it was 0.58% of weight.
− Acciones|ARQIT QUANTUM
Leaves the portfolio; it was 0.51% of weight.
− Acciones|YASKAWA ELECTRIC
Leaves the portfolio; it was 0.42% of weight.
− Acciones|CERENCE
Leaves the portfolio; it was 0.38% of weight.
Fixed income
Declared FI exposure
3.5 M €
% of portfolio
33.1%
Positions
6
Issuers
1
Sovereign: 3.3 M €
Corporate: 0 €
Repos / treasury management: 200,000 €
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 · 50.1%3-6 months · 49.9%
Maturity
Positions
Exposure
%
Matured or ≤3 months
1
1.6 M €
50.1%
3-6 months
1
1.6 M €
49.9%
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
Reino de España
Sovereign
2
3.3 M €
2026-03-06
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
ES0L02603063 Reino de España
1.88%
2026-03-06
1.6 M €
ES0L02606058 Reino de España
1.97%
2026-06-05
1.6 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: 2
Exits at maturity: 0
Exits not explained by maturity: 0
+ ESTADO ESPAÑOL
Enters the portfolio at 15.63% weight.
+ ESTADO ESPAÑOL
Enters the portfolio at 15.55% 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.