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GVCGAESCO T.F.T., FI

Category
Latest period
H2 2025
Positions
74

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.

74
Company Type Country Weight Price
Acciones|VODAFONE GROUP PLC GB00BH4HKS39 · GBP Renta Variable Cotizada GB 7.31%
Acciones|ARSEUS BE0003874915 · EUR Renta Variable Cotizada BE 6.87% 22.35 EUR
Acciones|FRESENIUS MEDICAL CARE DE0005785802 · EUR Renta Variable Cotizada DE 5.98% 40.14 EUR
Acciones|TELIASONERA SE0000667925 · EUR Renta Variable Cotizada SE 5.93%
Acciones|FANUC JP3802400006 · JPY Renta Variable Cotizada JP 5.82%
Acciones|TEVA PHARMACEUTICAL US8816242098 · USD Renta Variable Cotizada US 3.89% 37.34 USD
Acciones|NOS SGPS PTZON0AM0006 · EUR Renta Variable Cotizada PT 3.83%
Acciones|RAKUTEN JP3967200001 · JPY Renta Variable Cotizada JP 3.52%
Acciones|MEDTRONIC PLC IE00BTN1Y115 · USD Renta Variable Cotizada IE 3.36%
Acciones|EXPERT SYSTEM SPA IT0004496029 · EUR Renta Variable Cotizada IT 3.03%
Acciones|TELEFÓNICA ES0178430E18 · EUR Renta Variable Cotizada ES 2.92%
Acciones|TERADYNE INC US8807701029 · USD Renta Variable Cotizada US 2.90%
Acciones|PFIZER US7170811035 · USD Renta Variable Cotizada US 2.49%
Acciones|X-FAB SILICON FOUNDRIES SE BE0974310428 · EUR Renta Variable Cotizada BE 2.27%
Acciones|NIDEC CORPORATION JP3734800000 · JPY Renta Variable Cotizada JP 2.04%
Acciones|BT GROUP PLC GB0030913577 · GBP Renta Variable Cotizada GB 1.86%
Acciones|VERIZON COMMUNICATIONS US92343V1044 · USD Renta Variable Cotizada US 1.83%
Acciones|ALIBABA GROUP HOLDING-SP ADR US01609W1027 · USD Renta Variable Cotizada US 1.83% 119.34 USD
Acciones|CLAVISTER AB SE0005308558 · SEK Renta Variable Cotizada SE 1.60%
Acciones|VIVORYON THERAPEUTICS NL00150002Q7 · EUR Renta Variable Cotizada NL 1.44%
Acciones|SOFTBANK JP3732000009 · JPY Renta Variable Cotizada JP 1.37%
Acciones|TELEF BRASIL US87936R2058 · USD Renta Variable Cotizada US 1.33%
Acciones|MERCK & CO. INC US58933Y1055 · USD Renta Variable Cotizada US 1.18%
Acciones|CAP GEMINI FR0000125338 · EUR Renta Variable Cotizada FR 1.04%
Acciones|PHARMANUTRA SPA IT0005274094 · EUR Renta Variable Cotizada IT 1.04%
Acciones|ROCHE HOLDING CH0012032048 · CHF Renta Variable Cotizada CH 1.03%
Acciones|KENDRION NL0000852531 · EUR Renta Variable Cotizada NL 0.96%
Acciones|QUANMAX AT0000A0E9W5 · EUR Renta Variable Cotizada AT 0.70%
Acciones|CHINA LITERATURE LTD KYG2121R1039 · HKD Renta Variable Cotizada KY 0.69%
Acciones|PARLEM TELECOM ES0105561007 · EUR Renta Variable Cotizada ES 0.66%
Acciones|I2S SA FR0005854700 · EUR Renta Variable Cotizada FR 0.66%
Acciones|HARMONIC DRIVE SYSTEMS JP3765150002 · JPY Renta Variable Cotizada JP 0.63%
Acciones|ERICSSON SE0000108656 · SEK Renta Variable Cotizada SE 0.61%
Acciones|AMPLIFOM SPA IT0004056880 · EUR Renta Variable Cotizada IT 0.60%
Acciones|TENCENT HOLDING LTD KYG875721634 · HKD Renta Variable Cotizada KY 0.58%
Acciones|RUBEAN AG DE0005120802 · EUR Renta Variable Cotizada DE 0.57%
Acciones|ATRYS HEALTH ES0105148003 · EUR Renta Variable Cotizada ES 0.56%
Acciones|ASTRAZENECA GB0009895292 · GBP Renta Variable Cotizada GB 0.56%
Acciones|NOVARTIS CH0012005267 · CHF Renta Variable Cotizada CH 0.55%
Acciones|OTSUKA HOLDINGS CO JP3188220002 · JPY Renta Variable Cotizada JP 0.55%
Acciones|ASM LITHOGRAPHY HOLDING NL0010273215 · EUR Renta Variable Cotizada NL 0.54%
Acciones|CHINA MOBILE HK0941009539 · HKD Renta Variable Cotizada HK 0.52%
Acciones|CRANEWARE GB00B2425G68 · GBP Renta Variable Cotizada GB 0.52%
Acciones|ERREDUE SPA IT0005521247 · EUR Renta Variable Cotizada IT 0.51%
Acciones|M3 JP3435750009 · JPY Renta Variable Cotizada JP 0.51%
Acciones|LAM RESEARCH CORP US5128073062 · USD Renta Variable Cotizada US 0.49%
Acciones|DERMAPHARM HOLDING DE000A2GS5D8 · EUR Renta Variable Cotizada DE 0.46%
Acciones|TAIWAN SEMICONDUCTORS US8740391003 · USD Renta Variable Cotizada US 0.46%
Acciones|ABBOTT LABORATORIES US0028241000 · USD Renta Variable Cotizada US 0.44%
Acciones|AKAMAI TECH US00971T1016 · USD Renta Variable Cotizada US 0.44%
Acciones|FASHIONETTE DE000A2QEFA1 · EUR Renta Variable Cotizada DE 0.40%
Acciones|NOVO NORDISK A/S DK0062498333 · DKK Renta Variable Cotizada DK 0.39%
Acciones|ALCON INC CH0432492467 · CHF Renta Variable Cotizada CH 0.38%
Acciones|IMD INTERNATIONAL MEDICAL DEVI IT0005549255 · EUR Renta Variable Cotizada IT 0.37%
Acciones|KEYENCE CORP JP3236200006 · JPY Renta Variable Cotizada JP 0.36%
Acciones|LECTRA SYSTEMES FR0000065484 · EUR Renta Variable Cotizada FR 0.33%
Acciones|DIASORIN SPA IT0003492391 · EUR Renta Variable Cotizada IT 0.33%
Acciones|TERUMO CORP, S.A JP3546800008 · JPY Renta Variable Cotizada JP 0.33%
Acciones|MELEXIS NV BE0165385973 · EUR Renta Variable Cotizada BE 0.30%
Acciones|NYXOAH BE0974358906 · EUR Renta Variable Cotizada BE 0.30%
Acciones|BECTON DICKINSON AND CO US0758871091 · USD Renta Variable Cotizada US 0.29%
Acciones|FAMICORD AG DE000A0BL849 · EUR Renta Variable Cotizada DE 0.28%
Acciones|DAIICHI SANKYO CO LTD JP3475350009 · JPY Renta Variable Cotizada JP 0.27%
Acciones|FIRST ADVANTAGE US31846B1089 · USD Renta Variable Cotizada US 0.24%
Acciones|MPH MITTELSTAENDISCHE PH DE000A289V03 · EUR Renta Variable Cotizada DE 0.24%
Acciones|SAP AG DE0007164600 · EUR Renta Variable Cotizada DE 0.21%
Acciones|CARL ZEISS MEDITEC AG DE0005313704 · EUR Renta Variable Cotizada DE 0.15%
Acciones|NEOSPERIENCE IT0005497018 · EUR Renta Variable Cotizada IT 0.13%
Acciones|ORGANON CO US68622V1061 · USD Renta Variable Cotizada US 0.12%
Acciones|SANDOZ GROUP AG CH1243598427 · CHF Renta Variable Cotizada CH 0.07%
Acciones|KAPSCH TRAFFICCOM AT000KAPSCH9 · EUR Renta Variable Cotizada AT 0.03% 4.65 EUR
Acciones|JD.COM CL A KYG8208B1014 · HKD Renta Variable Cotizada KY 0.01%
Acciones|PROFITHOL ES0105621009 · EUR Renta Variable Cotizada ES 0.01%
Acciones|EMBECTA CORP US29082K1051 · USD Renta Variable Cotizada US 0.00%

This period's moves

H2 2025 vs H1 2025 (estimated)

New: 2 Exits: 3 Increases: 10 Cuts: 10
+ Acciones|CLAVISTER AB

Enters the portfolio at 1.60% weight.

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+ Acciones|AKAMAI TECH

Enters the portfolio at 0.44% weight.

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− Acciones|KIAOMI CLASS B

Leaves the portfolio; it was 1.18% of weight.

− Acciones|RUBEAN AG

Leaves the portfolio; it was 0.14% of weight.

− Acciones|MYNARIC AG

Leaves the portfolio; it was 0.03% of weight.

▲ Acciones|FANUC

Goes from 4.24% to 5.82%.

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▲ Acciones|VIVORYON THERAPEUTICS

Goes from 0.06% to 1.44%.

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▲ Acciones|TERADYNE INC

Goes from 1.62% to 2.90%.

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▲ Acciones|TELIASONERA

Goes from 5.11% to 5.93%.

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▲ Acciones|TEVA PHARMACEUTICAL

Goes from 3.25% to 3.89%.

Teva Pharmaceutical Industries Limited develops, manufactures, markets, and distributes generic and other medicines, and biopharmaceutical products in the United States, Europe, Israel, and internationally. It offers generic medicines in various dosage forms, such as tablets, capsules, injectables, inhalants, liquids, transdermal patches, ointments, and creams; sterile products, hormones, high-potency drugs, and cytotoxic substances in parenteral and solid dosage forms; and generic products with medical devices and combination products. The company also focuses on the central nervous system (CNS), respiratory, oncology, and other areas. It provides active pharmaceutical ingredients, as well as contract manufacturing services; and operates an out-licensing platform that offers a portfolio of products to other pharmaceutical companies. The company also offers BENDEKA and TREANDA injections for the treatment of chronic lymphocytic leukemia and indolent b-cell non-hodgkin's lymphoma; COPAXONE, glatiramer acetate injection to treat patients with relapsing forms of multiple sclerosis; AJOVY for the preventive treatment of migraine in adults; AUSTEDO for the treatment of tardive dyskinesia, chorea associated with Huntington's disease and tardive dyskinesia; UZEDY for the treatment of schizophrenia; QVAR RediHaler to treat asthma; BRALTUS, a long-acting muscarinic antagonist; CINQAIR/CINQAERO injection; DuoResp Spiromax budesonide and formoterol powder inhaler; AirDuo RespiClick fluticasone propionate and salmeterol inhalation powder; and ProAir RespiClick inhalation powder. It offers its OTC products under the SUDOCREM, NasenDuo, DICLOX FORTE, OLFEN Max, and FLEGAMINA brand names. The company has collaboration agreements with MedinCell S.A.; Sanofi; Alvotech; and Biolojic Design Ltd., as well as license agreement with MODAG GmbH. Teva Pharmaceutical Industries Limited was founded in 1901 and is based in Tel Aviv-Yafo, Israel.

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▲ Acciones|VODAFONE GROUP PLC

Goes from 6.91% to 7.31%.

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▲ Acciones|RAKUTEN

Goes from 3.14% to 3.52%.

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▲ Acciones|MERCK & CO. INC

Goes from 0.92% to 1.18%.

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▲ Acciones|MEDTRONIC PLC

Goes from 3.14% to 3.36%.

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▲ Acciones|EXPERT SYSTEM SPA

Goes from 2.82% to 3.03%.

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▼ Acciones|FRESENIUS MEDICAL CARE

Goes from 7.36% to 5.98%.

Fresenius Medical Care AG provides dialysis and related services for individuals with renal diseases in Germany, the United States, and internationally. The company offers dialysis treatment and related laboratory and diagnostic services through a network of outpatient dialysis clinics; materials, training, and patient support services comprising clinical monitoring, follow-up assistance, and arranging for delivery of the supplies to the patient's residence; and dialysis services under contract to hospitals in the United States for the hospitalized end-stage renal disease (ESRD) patients and for patients suffering from acute kidney failure. The company operates through Care Delivery and Care Enablement segments. It also develops, manufactures, and distributes various health care products, including hemodialysis machines, peritoneal dialysis cyclers, peritoneal dialysis solutions, hemodialysis concentrates, solutions and granulates, bloodlines, renal pharmaceuticals, systems for water treatment, and acute cardiopulmonary and apheresis products. In addition, the company develops, acquires, and in-licenses renal pharmaceuticals; offers renal medications and supplies to patients at homes or to dialysis clinics; and provides vascular specialty, ambulatory surgery center, physician nephrology practice management, pharmacy and other services. The company sells its products to dialysis clinics, hospitals, and specialized treatment clinics, as well as through local sales forces, independent distributors, dealers, and sales agents. The company was incorporated in 1996 and is headquartered in Bad Homburg, Germany.

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▼ Acciones|ALIBABA GROUP HOLDING-SP ADR

Goes from 3.21% to 1.83%.

Alibaba Group Holding Limited, through its subsidiaries, provides technology infrastructure and marketing reach to help merchants, brands, retailers, and other businesses in the People's Republic of China and internationally. It operates through the Alibaba China E-Commerce Group, Alibaba International Digital Commerce Group, Cloud Intelligence Group, and All Others segments. The Alibaba China E-commerce Group segment operates Taobao and Tmall, which are digital retail platforms; Taobao Instant Commerce, a local services and on-demand delivery platform; 1688.com, a domestic wholesale marketplace; and Xianyu, a consumer-to-consumer community and marketplace for idle goods. Its Alibaba International Digital Commerce Group segment includes AliExpress, a global e-commerce platform; Trendyol, an e-commerce platform in Turkey; Lazada, an e-commerce platform in Southeast Asia; Daraz, an e-commerce platform in South Asia, primarily in Pakistan and Bangladesh; and Alibaba.com, an integrated international online wholesale marketplace. The Cloud Intelligence Group segment offers a suite of cloud services based on infrastructure-as-a-service, platform-as-a-service, and model-as-a-service. Its All Others segment comprises Amap, a provider of mobile digital maps, navigation, and real-time traffic information in China; Cainiao, which provides logistics solutions; Youku, an online long-form video platform in China; Freshippo, a retail platform for groceries and fresh goods; and Alibaba Health, a pharmaceutical and healthcare services platform. Alibaba Group Holding Limited was incorporated in 1999 and is based in Hangzhou, China.

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▼ Acciones|NIDEC CORPORATION

Goes from 3.02% to 2.04%.

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▼ Acciones|TELEFÓNICA

Goes from 3.85% to 2.92%.

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▼ Acciones|X-FAB SILICON FOUNDRIES SE

Goes from 3.05% to 2.27%.

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▼ Acciones|ASM LITHOGRAPHY HOLDING

Goes from 1.28% to 0.54%.

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▼ Acciones|SOFTBANK

Goes from 2.00% to 1.37%.

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▼ Acciones|ARSEUS

Goes from 7.47% to 6.87%.

Fagron NV, a pharmaceutical compounding company, delivers personalized pharmaceutical care to hospitals, pharmacies, clinics, patients, and worldwide. It operates through three segments: Essentials, Brands, and Compounding Services. The company's products include DiluCap, a line of excipients to compound every capsule formulation; DiluTab, for Cardiology and Primary care application; Imuno TF Complex helps in regulation of immune responses; Pigmerise, a natural phytocomplex for hypopigmentation disorders, such as vitiligo; Pentravan uses for avoiding first-pass metabolism and preventing gastrointestinal erosion; Nourisil MD, a first line therapy for prevention and treatment of scars ang keloids; Neogen, a line of hair care products; TrichoConcept used to treat alopecia; Fagron Advanced Derma for basic skincare, compound pharmaceutical treatment, and individualized dermatological care; SyrSpend SF that provides pharmaceutical stability, dosage consistency, and patient comfort; and Cleoderm, a topical cream used for the compounding of personalized dermatological treatments. It also offers education and professional development of prescribers, hospitals, and pharmacists through the Fagron Academy. The company was formerly known as Arseus NV and changed its name to Fagron NV in January 2015. Fagron NV was founded in 1990 and is based in Nazareth, Belgium.

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▼ Acciones|FASHIONETTE

Goes from 0.73% to 0.40%.

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▼ Acciones|AMPLIFOM SPA

Goes from 0.90% to 0.60%.

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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.