Manager
GVC GAESCO GESTIÓN, SGIIC, S.A.
See the CNMV manager universe →
Fund page
IM 93 RENTA, FI
Category
—
Latest period
H2 2025
Positions
37
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.
37
Company
Type
Country
Weight
Price
BANCO CAMINOS
— · EUR
Depositos
—
5.36%
—
This period's moves
H2 2025 vs H1 2025 (estimated)
New: 17
Exits: 11
Increases: 4
Cuts: 2
− FRENCH DISCOUNT T BI
Leaves the portfolio; it was 3.19% of weight.
− ESTADO ESPAÑOL
Leaves the portfolio; it was 3.18% of weight.
− ESTADO ESPAÑOL
Leaves the portfolio; it was 3.17% of weight.
− ESTADO ESPAÑOL
Leaves the portfolio; it was 3.17% of weight.
− ESTADO ESPAÑOL
Leaves the portfolio; it was 3.17% of weight.
− ESTADO ESPAÑOL
Leaves the portfolio; it was 3.17% of weight.
− FRENCH DISCOUNT T BI
Leaves the portfolio; it was 2.40% of weight.
− ESTADO ESPAÑOL
Leaves the portfolio; it was 1.56% of weight.
− Acciones|MEDTRONIC PLC
Leaves the portfolio; it was 0.48% of weight.
− Acciones|DEUTSCHE BK
Leaves the portfolio; it was 0.40% 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|STANDARD LIFE ABERDEEN PLC
Leaves the portfolio; it was 0.39% of weight.
▲ Acciones|TEVA PHARMACEUTICAL
Goes from 0.57% to 0.83%.
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.
View company page →Fixed income
Declared FI exposure
35.8 M €
% of portfolio
56.1%
Positions
18
Issuers
4
Sovereign: 35.2 M €
Corporate: 600,750 €
Deposits / cash: 3.4 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 · 13.6%3-6 months · 19.4%6-12 months · 23.4%1-2 years · 24.8%2-5 years · 18.8%
Maturity
Positions
Exposure
%
Matured or ≤3 months
3
4.9 M €
13.6%
3-6 months
4
6.9 M €
19.4%
6-12 months
6
8.4 M €
23.4%
1-2 years
2
8.9 M €
24.8%
2-5 years
3
6.7 M €
18.8%
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
12
23.4 M €
2026-03-06
United States Treasury
Sovereign
3
5.9 M €
2026-01-31
France
Sovereign
2
5.8 M €
2027-05-25
INMOBILIARIA COLONIA
Corporate
1
600,750 €
2030-01-22
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
ES0000012A89 Reino de España
1.45%
2027-10-31
5.9 M €
ES00000124C5 Reino de España
5.15%
2028-10-31
3.2 M €
FR0013250560 France
1.00%
2027-05-25
3.0 M €
FR0013286192 France
0.75%
2028-05-25
2.9 M €
US912797QX89 United States Treasury
3.60%
2026-06-11
2.5 M €
ES0L02611066 Reino de España
2.00%
2026-11-06
2.0 M €
ES0L02612049 Reino de España
2.05%
2026-12-04
2.0 M €
US91282CBH34 United States Treasury
0.19%
2026-01-31
1.7 M €
US91282CBT71 United States Treasury
0.38%
2026-03-31
1.7 M €
ES0L02603063 Reino de España
2.00%
2026-03-06
1.5 M €
Currencies
Fixed-income exposure by instrument currency.
Currency
Exposure
%
EUR
29.9 M €
83.6%
USD
5.9 M €
16.4%
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: 16
Exits at maturity: 8
Exits not explained by maturity: 0
+ ESTADO ESPAÑOL
Enters the portfolio at 5.06% weight.
+ FRANCE
Enters the portfolio at 4.63% weight.
+ FRANCE
Enters the portfolio at 4.53% weight.
+ ESTADO USA
Enters the portfolio at 3.91% weight.
+ ESTADO ESPAÑOL
Enters the portfolio at 3.08% weight.
+ ESTADO ESPAÑOL
Enters the portfolio at 3.08% weight.
+ ESTADO USA
Enters the portfolio at 2.66% weight.
+ ESTADO USA
Enters the portfolio at 2.65% weight.
+ ESTADO ESPAÑOL
Enters the portfolio at 2.33% weight.
+ ESTADO ESPAÑOL
Enters the portfolio at 2.33% weight.
+ ESTADO ESPAÑOL
Enters the portfolio at 2.32% weight.
+ ESTADO ESPAÑOL
Enters the portfolio at 2.32% weight.
+ ESTADO ESPAÑOL
Enters the portfolio at 2.31% weight.
+ ESTADO ESPAÑOL
Enters the portfolio at 1.54% weight.
+ ESTADO ESPAÑOL
Enters the portfolio at 1.54% weight.
+ ESTADO ESPAÑOL
Enters the portfolio at 1.54% weight.
◦ ESTADO ESPAÑOL
Leaves the portfolio; it was 1.56% of weight.
◦ ESTADO ESPAÑOL
Leaves the portfolio; it was 3.17% of weight.
◦ FRENCH DISCOUNT T BI
Leaves the portfolio; it was 3.19% of weight.
◦ FRENCH DISCOUNT T BI
Leaves the portfolio; it was 2.40% of weight.
◦ ESTADO ESPAÑOL
Leaves the portfolio; it was 3.17% of weight.
◦ ESTADO ESPAÑOL
Leaves the portfolio; it was 3.18% of weight.
◦ ESTADO ESPAÑOL
Leaves the portfolio; it was 3.17% of weight.
◦ ESTADO ESPAÑOL
Leaves the portfolio; it was 3.17% 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.