Manager
MUTUACTIVOS, S.A., S.G.I.I.C.
See the CNMV manager universe →
Fund page
MURANO PATRIMONIO, FI
Category
—
Latest period
H2 2025
Positions
67
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.
67
Company
Type
Country
Weight
Price
This period's moves
H2 2025 vs H1 2025 (estimated)
New: 28
Exits: 14
Increases: 0
Cuts: 1
+ Acciones|ZEGONA COMMUNICATIONS PLC
Enters the portfolio at 0.23% weight.
Zegona Communications plc engages in the provision of integrated telecommunications services in Spain. The company offers broadband, mobile, TV, voice, data, and other value-added products and services. It serves business-to-consumer and business-to-business markets. The company was incorporated in 2015 and is based in London, the United Kingdom. Zegona Communications plc operates as a subsidiary of Ejlshm Funding Limited.
View company page →+ Acciones|AIRBUS GROUP SE
Enters the portfolio at 0.12% weight.
Airbus SE, together with its subsidiaries, engages in the design, manufacture, and delivery of aeronautics and aerospace products, services, and solutions worldwide. It operates through three segments: Airbus, Airbus Helicopters, and Airbus Defence and Space. The Airbus segment develops, manufactures, markets, and sells commercial jet passenger aircraft, freighter aircraft, regional turboprop aircraft, and aircraft components, as well as provides aircraft conversion and related services. The Airbus Helicopters segment develops, manufactures, markets, and sells civil and military helicopters; and provides uncrewed aerial systems and their related services. The Airbus Defence and Space segment designs, develops, delivers, and supports crewed and uncrewed military air systems and related services. This segment also offers civil and defence space systems for telecommunications, earth observations, navigation, and science and orbital systems; and services around data processing from platforms, secure communication, and cyber security. The company was formerly known as Airbus Group SE and changed its name to Airbus SE in April 2017. The company was incorporated in 1998 and is headquartered in Leiden, the Netherlands.
View company page →+ Acciones|BARCLAYS BANK PLC
Enters the portfolio at 0.11% weight.
Barclays PLC provides various financial services in the United Kingdom, Europe, the Americas, Africa, the Middle East, and Asia. The company operates through Barclays UK; Barclays UK Corporate Bank; Barclays Private Bank and Wealth Management; Barclays Investment Bank; and Barclays US Consumer Bank segments. It offers financial services, such as current accounts, savings accounts, mortgages and unsecured lending, such as credit cards and loans retail banking, wholesale banking, investment banking, wealth management, and investment management services, as well as lending products. In addition, the company engages in securities dealing activities and issuing of credit cards. The company was formerly known as Barclays Bank public limited company and changed its name to Barclays PLC in January 1985. Barclays PLC was founded in 1690 and is headquartered in London, the United Kingdom.
View company page →+ Acciones|BRITISH PETROLEUM PLC
Enters the portfolio at 0.09% weight.
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.
View company page →+ Acciones|ANTOFAGASTA PLC
Enters the portfolio at 0.09% weight.
Antofagasta plc operates as a mining company. It operates through Los Pelambres, Centinela, Antucoya, Zaldívar, Exploration and Evaluation, and Transport Division segments. The company produces copper cathodes and copper concentrates; molybdenum concentrates; and gold and silver by-products. It also provides rail and road cargo services to mining customers in northern Chile. In addition, the company has exploration projects in various countries. It has operations in the United Kingdom, Switzerland, Spain, Germany, rest of Europe, Chile, rest of Latin America, the United States, Japan, China, Singapore, South Korea, Hong Kong, and rest of Asia. The company was incorporated in 1888 and is headquartered in London, the United Kingdom. Antofagasta plc is a subsidiary of Metalinvest Anstalt.
View company page →− ABN AMRO BANK NV
Leaves the portfolio; it was 0.63% of weight.
− CELLNEX TELECOM SA
Leaves the portfolio; it was 0.49% of weight.
− Acciones|AXA SA
Leaves the portfolio; it was 0.22% of weight.
− REPSOL INTERNATIONAL
Leaves the portfolio; it was 0.19% of weight.
− Acciones|REPSOL SA
Leaves the portfolio; it was 0.18% of weight.
− Acciones|RED ELECTRICA DE ESPAÑA SA
Leaves the portfolio; it was 0.18% of weight.
− Acciones|NATIONAL GRID PLC
Leaves the portfolio; it was 0.17% of weight.
− Acciones|MICROSOFT CORPORATION INC
Leaves the portfolio; it was 0.13% 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|DR ING HC F PORSCHE AG
Leaves the portfolio; it was 0.12% of weight.
Dr. Ing. h.c. F. Porsche AG engages in automotive and financial services business in Germany, Europe, North America, China, and internationally. The company procures, develops, manufactures, and sells vehicles, as well as related services. It also offers leasing, dealer and customer financing, mobility services for Porsche brand vehicles, and other finance-related services. The company was formerly known as Porsche Fünfte Vermögensverwaltung AG and changed its name to Dr. Ing. h.c. F. Porsche AG in November 2009. The company was founded in 2009 and is headquartered in Stuttgart, Germany. Dr. Ing. h.c. F. Porsche AG is a subsidiary of Porsche Holding Stuttgart GmbH.
View company page →− Acciones|BREMBO N.V.
Leaves the portfolio; it was 0.12% of weight.
− Acciones|INMOBILIARIA COLONIAL, S.A.
Leaves the portfolio; it was 0.12% of weight.
Colonial SFL, Socimi S. A. is the leading platform in Europe's prime commercial real estate market, with a presence in the main business districts of Barcelona, Madrid and Paris. It owns a unique portfolio of commercial properties totaling more than 1 million sqm, with a market value exceeding 12.0 billion euros. The Group follows a dedicated long-term strategy focused on value creation through a high-quality client portfolio and asset appreciation. Looking ahead, Colonial SFL will continue to lead the urban transformation of city centres in the European market, recognized for its expertise and professionalism, financial strength and profitability, while delivering outstanding sustainable real estate solutions tailored to client's needs.
View company page →− Acciones|LANCASHIRE HOLDINGS LTD
Leaves the portfolio; it was 0.11% of weight.
− Acciones|ARKEMA
Leaves the portfolio; it was 0.11% of weight.
Arkema S.A., together with its subsidiaries, manufactures and sells specialty materials in Europe, the United States, Canada, Mexico, China, Hong Kong, Taiwan, and internationally. It operates in three segments: Adhesive Solutions, Advanced Materials and Coating Solutions, and Intermediates. The company provides solutions for construction, renovation of buildings, and DIY; high performance adhesives for durable goods, and adhesive solutions for packaging and non-woven; and supplies technologies used in building activities for businesses and individuals, including sealants, tiles, flooring adhesives and waterproofing systems, and technologies used in automotive, textiles, glazing, flexible and rigid packaging, and hygiene markets. It also offers high performance polymers, such as specialty polyamides, PVDF, polyimides, fluorospecialties, and PEKK; and performance additives comprising interface agents combining specialty surfactants, molecular sieves, organic peroxides, thiochemicals, and hydrogen peroxide. In addition, the company provides lightweighting, new energies, access to water, bio-based products, and recycling solutions for automotive and transportation sectors, oil and gas, renewable energies, consumer goods, electronics, construction, coatings, animal nutrition and water treatment. Further, it offers coating solutions, including EU/US acrylics and coating resins; coating additives, such as sartomer photocure resins, and coatex rheology additives and specialties; decorative paints, industrial coatings, and adhesives; and solutions for applications in the paper, superabsorbent, water treatment and oil and gas extraction, and 3D printing and electronics markets. Additionally, the company provides fluorogases and asia acrylics; and industrial intermediate chemicals for construction, refrigeration and air conditioning, automotive, coatings, and water treatment sectors. Arkema S.A. was incorporated in 2003 and is headquartered in Puteaux, France.
View company page →− Acciones|LUNDIN MINING CORP
Leaves the portfolio; it was 0.03% of weight.
Fixed income
Declared FI exposure
25.4 M €
% of portfolio
14.2%
Positions
32
Issuers
28
Sovereign: 0 €
Corporate: 25.4 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.
3-6 months · 0.8%6-12 months · 3.6%1-2 years · 3.6%2-5 years · 19.1%5-10 years · 19.0%> 10 years · 4.3%Unknown · 49.6%
Maturity
Positions
Exposure
%
Matured or ≤3 months
0
0 €
0.0%
3-6 months
1
191,539 €
0.8%
6-12 months
2
907,581 €
3.6%
1-2 years
1
919,277 €
3.6%
2-5 years
6
4.9 M €
19.1%
5-10 years
7
4.8 M €
19.0%
> 10 years
1
1.1 M €
4.3%
Unknown
14
12.6 M €
49.6%
Top issuers
The 10 issuers with the largest declared exposure in this fund, repos excluded.
Issuer
Type
ISINs
Exposure
Next maturity
ADIF ALTA VELOCIDAD
Corporate
1
2.7 M €
—
BAYER
Corporate
2
1.8 M €
2028-09-25
BANKINTER, S.A.
Bank
2
1.7 M €
2026-10-17
BANCO BILBAO VIZCAYA
Corporate
2
1.6 M €
—
ANGLO AMERICAN CAPIT
Corporate
2
1.3 M €
—
IBERCAJA BANCO SA
Corporate
1
1.1 M €
2048-07-25
ELECTRICITE DE FRANC
Corporate
1
1.0 M €
—
COOPERATIEVE RABOBAN
Corporate
1
921,662 €
—
CAIXABANK SA
Bank
1
877,252 €
2029-05-30
NATWEST GROUP
Corporate
1
859,013 €
2028-11-28
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
ES0200002113 ADIF ALTA VELOCIDAD
3.65%
—
2.7 M €
ES0844251019 IBERCAJA BANCO SA
2.28%
2048-07-25
1.1 M €
FR001400QR62 ELECTRICITE DE FRANC
4.12%
—
1.0 M €
XS2684826014 BAYER
6.62%
2028-09-25
956,632 €
ES0813211028 BANCO BILBAO VIZCAYA
1.50%
—
931,995 €
XS2202900424 COOPERATIEVE RABOBAN
2.19%
—
921,662 €
ES0213679OF4 BANKINTER, S.A.
1.25%
2027-06-23
919,277 €
XS2684846806 BAYER
7.00%
2031-09-25
879,777 €
XS2630417124 CAIXABANK SA
6.12%
2029-05-30
877,252 €
XS2592628791 NATWEST GROUP
5.76%
2028-11-28
859,013 €
Currencies
Fixed-income exposure by instrument currency.
Currency
Exposure
%
EUR
24.7 M €
97.1%
USD
730,867 €
2.9%
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: 12
Exits at maturity: 1
Exits not explained by maturity: 2
+ BAYER AG
Enters the portfolio at 0.49% weight.
+ ANGLO AMERICAN CAPIT
Enters the portfolio at 0.46% weight.
+ BARCLAYS BANK PLC
Enters the portfolio at 0.46% weight.
+ CEPSA FINANCE
Enters the portfolio at 0.46% weight.
+ CITIGROUP INC
Enters the portfolio at 0.45% weight.
+ LVMH SE
Enters the portfolio at 0.45% weight.
+ SOCIETE GENERALE AM
Enters the portfolio at 0.45% weight.
+ PRICELINE GROUP INC
Enters the portfolio at 0.45% weight.
+ VISA INC-CLASS A SHA
Enters the portfolio at 0.44% weight.
+ SANOFI-SYNTHELABO SA
Enters the portfolio at 0.44% weight.
+ DAA PLC
Enters the portfolio at 0.40% weight.
+ BANCO BILBAO VIZCAYA
Enters the portfolio at 0.37% weight.
− CELLNEX TELECOM SA
Leaves the portfolio; it was 0.49% of weight.
− REPSOL INTERNATIONAL
Leaves the portfolio; it was 0.19% of weight.
◦ ABN AMRO BANK NV
Leaves the portfolio; it was 0.63% 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.