Manager
AFI INVERSIONES GLOBALES, SGIIC, S.A.
See the CNMV manager universe →
Fund page
MULTIESTRATEGIA,FI
Category
—
Latest period
H2 2025
Positions
97
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.
97
Company
Type
Country
Weight
Price
This period's moves
H2 2025 vs H1 2025 (estimated)
New: 29
Exits: 22
Increases: 6
Cuts: 7
− UNITED KINGDOM G
Leaves the portfolio; it was 1.26% of weight.
− BELGIUM GOVERNME
Leaves the portfolio; it was 1.25% of weight.
− UNITED KINGDOM G
Leaves the portfolio; it was 1.15% of weight.
− KBC GROEP
Leaves the portfolio; it was 1.01% of weight.
− CAIXABANK,S.A.
Leaves the portfolio; it was 0.80% of weight.
− ARVAL SERVICE LE
Leaves the portfolio; it was 0.78% of weight.
− NETFLIX INC
Leaves the portfolio; it was 0.76% of weight.
− FERROVIE DELLO S
Leaves the portfolio; it was 0.76% of weight.
− BBVA-BBV
Leaves the portfolio; it was 0.76% of weight.
− ING GROEP NV
Leaves the portfolio; it was 0.75% of weight.
− NATIXIS
Leaves the portfolio; it was 0.74% of weight.
− BAYER AG
Leaves the portfolio; it was 0.70% of weight.
− ACCIONA SA
Leaves the portfolio; it was 0.67% of weight.
− ACCIONES|FERRARI NV
Leaves the portfolio; it was 0.65% of weight.
− ACCIONES|UNILEVER NV
Leaves the portfolio; it was 0.63% of weight.
− ACCIONES|ATALAYA MINING COPPER S.A
Leaves the portfolio; it was 0.60% of weight.
Atalaya Mining Copper, S.A., together with its subsidiaries, engages in the mineral exploration and development in Spain. The company's flagship property is the Proyecto Riotinto, an open-pit copper mine located in the Andalusia region of Spain. It explores for copper concentrates, silver by-products, and gold. The company was formerly known as Atalaya Mining Plc and changed its name to Atalaya Mining Copper, S.A. in January 2025. Atalaya Mining Copper, S.A. was incorporated in 2004 and is based in Seville, Spain.
− ACCIONES|Cameco Corp
Leaves the portfolio; it was 0.55% of weight.
− ACCIONES|SPOTIFY TECHNOLOGY SA
Leaves the portfolio; it was 0.54% of weight.
− PHOENIX GROUP HO
Leaves the portfolio; it was 0.33% of weight.
− INTERNATIONAL CO
Leaves the portfolio; it was 0.25% of weight.
− GENERAL MOTORS C
Leaves the portfolio; it was 0.23% of weight.
− ACCIONES|EVOLUTION GAMING GROUP(EVO SS)
Leaves the portfolio; it was 0.21% of weight.
▲ ACCIONES|ALIBABA GROUP HOLDING LTD
Goes from 0.24% to 0.60%.
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.
View company page →▼ ACCIONES|FACEBOOK INC
Goes from 2.48% to 1.53%.
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.
View company page →▼ ACCIONES|MICROSOFT CORP
Goes from 1.49% to 1.20%.
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.
View company page →Fixed income
Declared FI exposure
42.9 M €
% of portfolio
50.9%
Positions
57
Issuers
51
Sovereign: 5.4 M €
Corporate: 37.5 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 · 1.2%3-6 months · 2.1%6-12 months · 2.1%1-2 years · 7.7%2-5 years · 52.3%5-10 years · 32.9%> 10 years · 1.7%
Maturity
Positions
Exposure
%
Matured or ≤3 months
1
495,232 €
1.2%
3-6 months
1
888,760 €
2.1%
6-12 months
2
920,869 €
2.1%
1-2 years
6
3.3 M €
7.7%
2-5 years
31
22.4 M €
52.3%
5-10 years
15
14.1 M €
32.9%
> 10 years
1
748,863 €
1.7%
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
PHOENIX GROUP HO
Corporate
5
2.3 M €
2028-07-07
UNITED STATES TR
Sovereign
1
1.8 M €
2033-08-15
European Stability Mechanism
Supranational
2
1.7 M €
2030-12-04
METROPOLITAN LIF
Corporate
1
1.6 M €
2031-12-07
PROSUS NV
Corporate
1
1.6 M €
2033-07-13
Repubblica Italiana
Sovereign
2
1.5 M €
2033-11-01
AXA SA
Corporate
1
1.3 M €
2030-06-02
H&M FINANCE BV
Corporate
1
1.1 M €
2031-10-25
ANGLO AMERICAN C
Corporate
1
1.1 M €
2031-03-15
GROUPE BPCE
Corporate
1
1.0 M €
2028-07-13
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
US91282CHT18 UNITED STATES TR
3.88%
2033-08-15
1.8 M €
XS2731506841 METROPOLITAN LIF
3.75%
2031-12-07
1.6 M €
XS2363203089 PROSUS NV
1.99%
2033-07-13
1.6 M €
XS3085146929 AXA SA
5.75%
2030-06-02
1.3 M €
XS2704918478 H&M FINANCE BV
4.88%
2031-10-25
1.1 M €
IT0005544082 Repubblica Italiana
4.35%
2033-11-01
1.1 M €
XS2598746373 ANGLO AMERICAN C
5.00%
2031-03-15
1.1 M €
FR001400F075 GROUPE BPCE
4.38%
2028-07-13
1.0 M €
EU000A3LNF05 European Stability Mechanism
3.12%
2030-12-04
1.0 M €
XS2661068234 FOMENTO DE CONST
5.25%
2029-10-30
1.0 M €
Currencies
Fixed-income exposure by instrument currency.
Currency
Exposure
%
EUR
35.8 M €
83.4%
USD
7.1 M €
16.6%
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: 0
Exits not explained by maturity: 16
+ PROSUS NV
Enters the portfolio at 1.86% weight.
+ ANGLO AMERICAN C
Enters the portfolio at 1.27% weight.
+ FOMENTO DE CONST
Enters the portfolio at 1.22% weight.
+ CIE AUTOMOTIVE
Enters the portfolio at 1.05% weight.
+ ANHEUSER-BUSCH I
Enters the portfolio at 0.98% weight.
+ ACCIONA SA
Enters the portfolio at 0.97% weight.
+ EUROPEAN UNION
Enters the portfolio at 0.89% weight.
+ MIZUHO FINANCIAL
Enters the portfolio at 0.88% weight.
+ NOMURA HOLDINGS
Enters the portfolio at 0.84% weight.
+ PHOENIX GROUP HO
Enters the portfolio at 0.83% weight.
+ TECNICAS REUNIDA
Enters the portfolio at 0.71% weight.
+ VOCENTO SA
Enters the portfolio at 0.59% weight.
+ PHOENIX GROUP HO
Enters the portfolio at 0.56% weight.
+ PHOENIX GROUP HO
Enters the portfolio at 0.48% weight.
+ PHOENIX GROUP HO
Enters the portfolio at 0.47% weight.
+ PHOENIX GROUP HO
Enters the portfolio at 0.32% weight.
− UNITED KINGDOM G
Leaves the portfolio; it was 1.26% of weight.
− BELGIUM GOVERNME
Leaves the portfolio; it was 1.25% of weight.
− UNITED KINGDOM G
Leaves the portfolio; it was 1.15% of weight.
− KBC GROEP
Leaves the portfolio; it was 1.01% of weight.
− CAIXABANK,S.A.
Leaves the portfolio; it was 0.80% of weight.
− ARVAL SERVICE LE
Leaves the portfolio; it was 0.78% of weight.
− NETFLIX INC
Leaves the portfolio; it was 0.76% of weight.
− FERROVIE DELLO S
Leaves the portfolio; it was 0.76% of weight.
− BBVA-BBV
Leaves the portfolio; it was 0.76% of weight.
− ING GROEP NV
Leaves the portfolio; it was 0.75% of weight.
− NATIXIS
Leaves the portfolio; it was 0.74% of weight.
− BAYER AG
Leaves the portfolio; it was 0.70% of weight.
− ACCIONA SA
Leaves the portfolio; it was 0.67% of weight.
− PHOENIX GROUP HO
Leaves the portfolio; it was 0.33% of weight.
− INTERNATIONAL CO
Leaves the portfolio; it was 0.25% of weight.
− GENERAL MOTORS C
Leaves the portfolio; it was 0.23% 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.