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Ficha de fondo

MARCH FLEXIBLE MAX 30, FI

Categoria
Ultimo periodo
2S 2025
Posiciones
67

Cartera notificada con cierre 2025-12-31. Fuente: informe periodico en la CNMV. Ver informe original (PDF)

Cartera completa

Todas las posiciones del ultimo informe periodico, de mayor a menor peso. Los agregados ("resto de renta variable...") son cestas de posiciones pequenas que el propio informe no desglosa linea a linea.

67
Empresa Tipo Pais Peso Precio
UNION EUROPEA EU000A3K4EN5 · EUR Deuda Publica Cotizada Mas 1 Anio EU 7.51%
ESTADO ALEMAN DE0001141851 · EUR Deuda Publica Cotizada Mas 1 Anio DE 6.18%
ESTADO HOLANDA NL0012818504 · EUR Deuda Publica Cotizada Mas 1 Anio NL 4.81%
ESTADO ITALIANO IT0005240830 · EUR Deuda Publica Cotizada Mas 1 Anio IT 3.67%
ESTADO ALEMAN DE0001102457 · EUR Deuda Publica Cotizada Mas 1 Anio DE 3.48%
ESTADO HOLANDA NL00150006U0 · EUR Deuda Publica Cotizada Mas 1 Anio NL 3.11%
MERCEDES BENZ DE000A2AAL31 · EUR Renta Fija Cotizada Menos 1 Anio DE 2.26%
DES CAISSES DESJARDI XS2613159719 · EUR Renta Fija Cotizada Mas 1 Anio XS 2.24%
BNP PARIBAS FR0013422011 · EUR Renta Fija Cotizada Mas 1 Anio FR 2.07%
CIE FINANCEMET FONCI FR00140095D5 · EUR Renta Fija Cotizada Mas 1 Anio FR 2.04%
REPSOL INTL FINANCE XS1148073205 · EUR Renta Fija Cotizada Menos 1 Anio XS 1.87%
ENI SPA XS1180451657 · EUR Renta Fija Cotizada Menos 1 Anio XS 1.83%
BANCO INVERSIS, S.A. ES0000012O59 · EUR Adquisicion Temporal Activos ES 1.83%
MORGAN STANLEY RF XS1511787589 · EUR Renta Fija Cotizada Menos 1 Anio XS 1.79%
LA BANQUE POSTALE FR00140087C4 · EUR Renta Fija Cotizada Mas 1 Anio FR 1.78%
UNION EUROPEA EU000A287074 · EUR Deuda Publica Cotizada Mas 1 Anio EU 1.73%
BANCO SANTANDER XS2063247915 · EUR Renta Fija Cotizada Menos 1 Anio XS 1.71%
ESTADO ESPAÑOL ES0000012I08 · EUR Deuda Publica Cotizada Mas 1 Anio ES 1.63%
MORGAN STANLEY RF XS2292263121 · EUR Renta Fija Cotizada Mas 1 Anio XS 1.61%
BANKAMERICA CORP XS2248451978 · EUR Renta Fija Cotizada Mas 1 Anio XS 1.57%
ANHEUSER-BUSCH CO BE6320934266 · EUR Renta Fija Cotizada Mas 1 Anio BE 1.52%
CRITERIA CAIXAHOLDIN XS3007624417 · EUR Renta Fija Cotizada Mas 1 Anio XS 1.49%
BANKAMERICA CORP XS1602547264 · EUR Renta Fija Cotizada Mas 1 Anio XS 1.46%
ENAGAS FINANCIACIONE XS1403388694 · EUR Renta Fija Cotizada Mas 1 Anio XS 1.42%
VOLKSWAGEN FIN SERV XS2343822842 · EUR Renta Fija Cotizada Menos 1 Anio XS 1.42%
BANKINTER, S.A. ES0213679OF4 · EUR Renta Fija Cotizada Mas 1 Anio ES 1.41%
DEUTSCHE TELEKOM DE000A2TSDE2 · EUR Renta Fija Cotizada Mas 1 Anio DE 1.37%
ESTADO ESPAÑOL ES0000012M51 · EUR Deuda Publica Cotizada Mas 1 Anio ES 0.77%
FERROVIE DELLO STATO XS2532681074 · EUR Renta Fija Cotizada Mas 1 Anio XS 0.75%
TOYOTA MOTOR XS2857918804 · EUR Renta Fija Cotizada Mas 1 Anio XS 0.75%
ADIF ALTA VELOCIDAD ES0200002105 · EUR Renta Fija Cotizada Mas 1 Anio ES 0.75%
ACCIONES|SIEMENS DE0007236101 · EUR Renta Variable Cotizada DE 0.73%
ENI SPA XS2344735811 · EUR Renta Fija Cotizada Mas 1 Anio XS 0.66%
ACCIONES|BARRICK MINING CORP CA06849F1080 · USD Renta Variable Cotizada CA 0.61%
GOLDMAN SACHS XS2389353264 · EUR Renta Fija Cotizada Mas 1 Anio XS 0.60%
ACCIONES|ALPHABET INC US02079K3059 · USD Renta Variable Cotizada US 0.52%
ACCIONES|ING GROEP NL0011821202 · EUR Renta Variable Cotizada NL 0.49%
ACCIONES|BROADCOM US11135F1012 · USD Renta Variable Cotizada US 0.49%
ACCIONES|ROCHE HOLDINGS CH0012032048 · CHF Renta Variable Cotizada CH 0.48%
ACCIONES|IBERDROLA ES0144580Y14 · EUR Renta Variable Cotizada ES 0.48%
ACCIONES|ELI LILLY US5324571083 · USD Renta Variable Cotizada US 0.44%
ACCIONES|RWE DE0007037129 · EUR Renta Variable Cotizada DE 0.43%
ACCIONES|FREEPORT MCMORAN US35671D8570 · USD Renta Variable Cotizada US 0.43%
ACCIONES|ASML HOLDING NV NL0010273215 · EUR Renta Variable Cotizada NL 0.42%
ACCIONES|JOHNSON US4781601046 · USD Renta Variable Cotizada US 0.42%
ACCIONES|SCHNEIDER ELECTRIC FR0000121972 · EUR Renta Variable Cotizada FR 0.39%
ACCIONES|INDITEX ES0148396007 · EUR Renta Variable Cotizada ES 0.37%
ACCIONES|STRYKER CORP US8636671013 · USD Renta Variable Cotizada US 0.36%
AT&T INC XS2180007549 · EUR Renta Fija Cotizada Mas 1 Anio XS 0.35%
ESTADO ESPAÑOL ES0000012B88 · EUR Deuda Publica Cotizada Mas 1 Anio ES 0.35%
ESTADO ALEMAN DE0001102606 · EUR Deuda Publica Cotizada Mas 1 Anio DE 0.35%
ACCIONES|TOTAL ENERGIES FR0000120271 · EUR Renta Variable Cotizada FR 0.35%
ACCIONES|SAP AG DE0007164600 · EUR Renta Variable Cotizada DE 0.34%
ACCIONES|LINDE AG IE000S9YS762 · USD Renta Variable Cotizada IE 0.33%
ACCIONES|VONOVIA SE DE000A1ML7J1 · EUR Renta Variable Cotizada DE 0.32%
ACCIONES|EADS NL0000235190 · EUR Renta Variable Cotizada NL 0.32% 203.70 EUR
ACCIONES|FACEBOOK INC US30303M1027 · USD Renta Variable Cotizada US 0.31% 549.90 USD
ACCIONES|AMERICAN WATER WORKS US0304201033 · USD Renta Variable Cotizada US 0.31%
ACCIONES|INBEV NV BREWS BE0974293251 · EUR Renta Variable Cotizada BE 0.30%
ACCIONES|WOLTERS KLUWER NV NL0000395903 · EUR Renta Variable Cotizada NL 0.30%
ACCIONES|MICROSOFT US5949181045 · USD Renta Variable Cotizada US 0.29% 483.24 USD
ACCIONES|PALO ALTO US6974351057 · USD Renta Variable Cotizada US 0.29%
ACCIONES|NESTLE CH0038863350 · CHF Renta Variable Cotizada CH 0.28%
ACCIONES|BERKSHIRE HATHAWAY US0846707026 · USD Renta Variable Cotizada US 0.27% 495.82 USD
ACCIONES|DEUTSCHE TELEKOM DE0005557508 · EUR Renta Variable Cotizada DE 0.27%
ACCIONES|THERMO FISHER US8835561023 · USD Renta Variable Cotizada US 0.27%
ACCIONES|AMAZON COMPANY US0231351067 · USD Renta Variable Cotizada US 0.25%

Movimientos del periodo

2S 2025 frente a 1S 2025 (estimada)

Nuevas: 15 Salidas: 24 Incrementos: 6 Recortes: 2
+ ESTADO ITALIANO

Entra en la cartera con un 3.67% de peso.

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+ ESTADO ALEMAN

Entra en la cartera con un 3.48% de peso.

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+ BNP PARIBAS

Entra en la cartera con un 2.07% de peso.

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+ BANCO INVERSIS, S.A.

Entra en la cartera con un 1.83% de peso.

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+ UNION EUROPEA

Entra en la cartera con un 1.73% de peso.

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+ ENAGAS FINANCIACIONE

Entra en la cartera con un 1.42% de peso.

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+ TOYOTA MOTOR

Entra en la cartera con un 0.75% de peso.

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+ ACCIONES|RWE

Entra en la cartera con un 0.43% de peso.

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+ ACCIONES|STRYKER CORP

Entra en la cartera con un 0.36% de peso.

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+ ACCIONES|LINDE AG

Entra en la cartera con un 0.33% de peso.

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+ ACCIONES|FACEBOOK INC

Entra en la cartera con un 0.31% de peso.

Meta Platforms, Inc. engages in the development of products that enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality (VR) headsets, and AI glasses in the United States, Canada, Europe, Asia-Pacific, and internationally. It operates through two segments, Family of Apps (FoA) and Reality Labs (RL). The FoA segment offers Facebook, which enables people to build community through feed, reels, stories, groups, marketplace, and other; Instagram that brings people closer through Instagram feed, stories, reels, live, and messaging; Messenger, a messaging application for people to connect with friends, family, communities, and businesses across platforms and devices through text, audio, and video calls; Meta AI, an assistant that's available across apps, as a stand-alone app, on AI glasses, and on the web; Threads, an application for text-based updates and public conversations; and WhatsApp, a messaging application that is used by people and businesses to communicate and transact. The RL segment provides virtual and augmented reality products, including consumer hardware, software, and content that help people feel connected, as well as Meta Quest devices that enable social experiences across gaming, fitness, entertainment, and more. The segment also includes wearables such as AI glasses like Ray Ban Meta and Oakley Meta glasses; and the Meta Ray Ban Display, which combines AI glasses with an integrated lens display and the Meta Neural Band, a wrist worn device using electromyography that lets people control their AI glasses through neuromuscular signals. Meta Platforms, Inc. has a collaboration with Microsoft Corporation, NVIDIA Corporation, Advanced Micro Devices, Inc., Broadcom Inc., and OpenAI, L.L.C. The company was formerly known as Facebook, Inc. and changed its name to Meta Platforms, Inc. in October 2021. The company was incorporated in 2004 and is headquartered in Menlo Park, California.

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+ ACCIONES|AMERICAN WATER WORKS

Entra en la cartera con un 0.31% de peso.

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+ ACCIONES|WOLTERS KLUWER NV

Entra en la cartera con un 0.30% de peso.

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+ ACCIONES|NESTLE

Entra en la cartera con un 0.28% de peso.

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+ ACCIONES|THERMO FISHER

Entra en la cartera con un 0.27% de peso.

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− BANCO INVERSIS, S.A.

Sale de la cartera; tenia un 4.74% de peso.

− ESTADO FRANCES

Sale de la cartera; tenia un 3.96% de peso.

− ESTADO ESPAÑOL

Sale de la cartera; tenia un 3.31% de peso.

− BMW FINANCE NV

Sale de la cartera; tenia un 2.66% de peso.

− LOREAL

Sale de la cartera; tenia un 2.28% de peso.

− ESTADO ESPAÑOL

Sale de la cartera; tenia un 1.79% de peso.

− CREDIT AGRICOLE

Sale de la cartera; tenia un 1.28% de peso.

− CREDIT AGRICOLE

Sale de la cartera; tenia un 1.10% de peso.

− PARTICIPACIONES|XTRACKERS

Sale de la cartera; tenia un 0.51% de peso.

− ACCIONES|LEGRAND SA

Sale de la cartera; tenia un 0.35% de peso.

− ACCIONES|FERROVIAL SE

Sale de la cartera; tenia un 0.34% de peso.

− ACCIONES|VALLOUREC SA

Sale de la cartera; tenia un 0.32% de peso.

Vallourec S.A., through its subsidiaries, provides tubular solutions for the oil and gas, industry, and new energies markets in North America, South America, France, the Middle East, Indonesia, and East Asia. It operates through Tubes and Mine & Forests segments. The company offers seamless tubes for refineries, petrochemical facilities, onshore liquefied natural gas (LNG) facilities, and floating LNG facilities, as well as for floating production, storage, and offloading units; VAM connections; rigid subsea line pipes, onshore rigid line pipes, and pipe coating solutions; and carbon steel and steel alloy tubes, hollow bars, and connections. It also provides assistance in lowering tubes, inspecting connections, and supervising assembly; inventory management; engineering; training; on-site services; preparation for drilling operations; and integrated solutions for the subsea pipelines comprising analysis, coating, insulation, bending, logistics, and project management with digital support solutions. In addition, the company offers tubular products for the geothermal; carbon capture, utilization, and storage; and hydrogen industries. Further, it provides tubes and hollow bars, as well as circular, square, rectangular, and octagonal sections for the manufacture of cranes, construction machinery, agricultural machinery, and hydraulic and gas cylinders; and axle tubes and gearbox applications, motorbike frame components, and suspension and stabilizer tubular parts for heavy and light vehicles. Additionally, the company is involved in the iron ore and charcoal production businesses. It serves oil service, engineering, and construction companies; distributors and industrial equipment manufacturers; and energy companies, and carbon capture and storage specialists, as well as geothermal, green hydrogen, and solar developers. Vallourec S.A. was founded in 1890 and is headquartered in Meudon, France.

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− ACCIONES|ORACLE

Sale de la cartera; tenia un 0.31% de peso.

− ACCIONES|BARRATT REDROW

Sale de la cartera; tenia un 0.29% de peso.

Barratt Redrow plc engages in the housebuilding business in the United Kingdom. The company is also involved in the commercial development business, which includes offices, retail, leisure, industrial, and distribution properties under the Wilson Bowden Developments brand; and land development activities. In addition, it manufactures timber frames under the Oregon Timber Frame brand; and furniture under the BD Living brand. The company offers its homes under the Barratt Homes, David Wilson Homes, Redrow, and Barratt London brands. The company was formerly known as Barratt Developments plc and changed its name Barratt Redrow plc in October 2024. Barratt Redrow plc was founded in 1953 and is headquartered in Coalville, the United Kingdom.

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− ACCIONES|DANONE

Sale de la cartera; tenia un 0.26% de peso.

− ACCIONES|BAE SYSTEMS PLC

Sale de la cartera; tenia un 0.25% de peso.

− ACCIONES|ADOBE INC

Sale de la cartera; tenia un 0.25% de peso.

− ACCIONES|SSE PLC

Sale de la cartera; tenia un 0.24% de peso.

− ACCIONES|B.P. AMOCO

Sale de la cartera; tenia un 0.24% de peso.

BP p.l.c., an integrated energy company, engages in the oil and gas business worldwide. The company operates through Gas & Low Carbon Energy, Oil Production & Operations, and Customers & Products segments. It engages in the production of natural gas, marketing, and trading activities, as well as solar, wind, and hydrogen businesses. The company also offers aviation fuel products and services, such as jet fuel; aviation gasoline; UL91 aviation fuel; and sustainable aviation fuel. In addition, it engages in the convenience and retail fuel; EV charging; Castrol lubricants and fluids; B2B; midstream; crude oil production; refining and oil trading; and bioenergy businesses. The company was founded in 1908 and is headquartered in London, the United Kingdom.

− ACCIONES|BASF SE

Sale de la cartera; tenia un 0.24% de peso.

− ACCIONES|NOVO NORDISK A/S

Sale de la cartera; tenia un 0.23% de peso.

− ACCIONES|SLB

Sale de la cartera; tenia un 0.23% de peso.

SLB N.V. engages in the provision of technology for the energy industry worldwide. The company operates through four divisions: Digital & Integration, Reservoir Performance, Well Construction, and Production Systems. The company provides field development and hydrocarbon production, carbon management, and integration of adjacent energy systems; reservoir interpretation and data processing services for exploration data; and well construction and production improvement services and products. It also offers subsurface geology and fluids evaluation information; stimulation services to restore or enhance well productivity through hydraulic fracturing, matrix stimulation, and water treatment; and intervention services to oil and gas operators. In addition, the company offers mud logging, directional drilling, measurement-while-drilling, and logging-while-drilling services, as well as engineering support services; supplies drilling fluid systems; designs, manufactures, and markets roller cone and fixed cutter drill bits; bottom-hole-assembly and borehole enlargement technologies; well planning, well drilling, engineering, supervision, logistics, procurement, and contracting of third parties, as well as drilling rig management solutions; and drilling equipment and services, as well as land drilling rigs and related services. Further, it provides artificial lift; supplies packers, safety valves, sand control technology, and various intelligent systems; midstream production systems; valves, chokes, actuators, and surface trees; and OneSubsea, an integrated solutions, products, systems, and services, including wellheads, subsea trees, manifolds and flowline connectors, control systems, connectors, and services. SLB N.V. was formerly known as Schlumberger Limited and change its name to SLB N.V. in October 2025. The company was founded in 1926 and is based in Houston, Texas.

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− ACCIONES|MERCK

Sale de la cartera; tenia un 0.19% de peso.

− ACCIONES|VINCI S.A.

Sale de la cartera; tenia un 0.19% de peso.

▲ UNION EUROPEA

Pasa del 3.88% al 7.51%.

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▲ MORGAN STANLEY RF

Pasa del 0.65% al 1.61%.

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▲ ACCIONES|SIEMENS

Pasa del 0.31% al 0.73%.

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▲ ACCIONES|JOHNSON

Pasa del 0.19% al 0.42%.

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▲ ACCIONES|ELI LILLY

Pasa del 0.21% al 0.44%.

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▲ ACCIONES|ALPHABET INC

Pasa del 0.30% al 0.52%.

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▼ ESTADO ALEMAN

Pasa del 4.29% al 0.35%.

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▼ ESTADO ESPAÑOL

Pasa del 0.72% al 0.35%.

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Renta fija

Exposición RF declarada
19.1 M €
% de la cartera
70.1%
Posiciones
36
Emisores
26
Soberano: 6.6 M € Corporativo: 12.0 M € Repos / gestión de tesorería: 499,245 €

Escalera de vencimientos

Vencimiento contractual observado de cada posición, sin repos. Vencido/≤3 meses incluye bonos que vencen en los primeros días tras el cierre del periodo.

Vencido o ≤3 meses · 6.0%6-12 meses · 9.9%1-2 años · 19.9%2-5 años · 46.2%5-10 años · 17.9%
Vencimiento Posiciones Exposición %
Vencido o ≤3 meses 2 1.1 M € 6.0%
3-6 meses 0 0 € 0.0%
6-12 meses 4 1.9 M € 9.9%
1-2 años 5 3.7 M € 19.9%
2-5 años 15 8.6 M € 46.2%
5-10 años 9 3.3 M € 17.9%
> 10 años 0 0 € 0.0%
Desconocido 0 0 € 0.0%

Top emisores

Los 10 emisores con mayor exposición declarada en este fondo, sin repos.

Emisor Tipo Nº ISIN Exposición Próximo vencimiento
Bundesrepublik Deutschland Soberano 3 2.7 M € 2027-04-16
European Union Supranacional 2 2.5 M € 2028-06-02
ESTADO HOLANDA Soberano 2 2.2 M € 2028-07-15
Repubblica Italiana Soberano 1 1.0 M € 2027-06-01
MORGAN STANLEY RF Corporativo 2 926,516 € 2026-10-27
BANKAMERICA CORP Corporativo 2 829,181 € 2027-05-04
Reino de España Soberano 3 748,640 € 2028-01-31
ENI SPA Corporativo 2 678,607 € 2026-02-02
MERCEDES BENZ Corporativo 1 616,002 € 2026-03-09
DES CAISSES DESJARDI Corporativo 1 611,195 € 2028-04-18

Top instrumentos

Los 10 instrumentos con mayor exposición declarada. Sin yield, TIR ni rating: no hay dato fiable para calcularlos.

ISIN Cupón Vencimiento Exposición
EU000A3K4EN5 European Union 3.13% 2028-12-05 2.1 M €
DE0001141851 Bundesrepublik Deutschland 1.16% 2027-04-16 1.7 M €
NL0012818504 ESTADO HOLANDA 0.75% 2028-07-15 1.3 M €
IT0005240830 Repubblica Italiana 2.20% 2027-06-01 1.0 M €
DE0001102457 Bundesrepublik Deutschland 0.25% 2028-08-15 949,077 €
NL00150006U0 ESTADO HOLANDA 2.40% 2031-07-15 849,312 €
DE000A2AAL31 MERCEDES BENZ 1.50% 2026-03-09 616,002 €
XS2613159719 DES CAISSES DESJARDI 3.25% 2028-04-18 611,195 €
FR0013422011 BNP PARIBAS SA 1.38% 2029-05-28 565,985 €
FR00140095D5 CIE FINANCEMET FONCI 0.50% 2028-03-16 557,020 €

Movimientos de renta fija del periodo

Compara la cartera RF actual con la del periodo anterior, por ISIN. Una salida coincidente con vencimiento no es una venta: el bono llegó a su fecha contractual.

Nuevas posiciones: 6 Salidas por vencimiento: 2 Salidas no explicadas por vencimiento: 5
+ ESTADO ITALIANO

Entra en la cartera con un 3.67% de peso.

+ ESTADO ALEMAN

Entra en la cartera con un 3.48% de peso.

+ BNP PARIBAS

Entra en la cartera con un 2.07% de peso.

+ UNION EUROPEA

Entra en la cartera con un 1.73% de peso.

+ ENAGAS FINANCIACIONE

Entra en la cartera con un 1.42% de peso.

+ TOYOTA MOTOR

Entra en la cartera con un 0.75% de peso.

− ESTADO FRANCES

Sale de la cartera; tenía un 3.96% de peso.

− ESTADO ESPAÑOL

Sale de la cartera; tenía un 3.31% de peso.

− LOREAL

Sale de la cartera; tenía un 2.28% de peso.

− ESTADO ESPAÑOL

Sale de la cartera; tenía un 1.79% de peso.

− CREDIT AGRICOLE

Sale de la cartera; tenía un 1.28% de peso.

◦ BMW FINANCE NV

Sale de la cartera; tenía un 2.66% de peso.

◦ CREDIT AGRICOLE

Sale de la cartera; tenía un 1.10% de peso.

Aviso

Esto no es asesoramiento financiero. La cartera procede del informe periodico que el fondo presenta en la CNMV y llega con retraso respecto al cierre real del periodo: es una foto del final de cada semestre, no la cartera en tiempo real.