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MUTUAFONDO RENTA VARIABLE INTERNACIONAL, FI

Category
Latest period
H2 2025
Positions
43

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.

43
Company Type Country Weight Price
CACEISBANK ES0000012M51 · EUR Adquisicion Temporal Activos ES 1.89%
Acciones|ZEGONA COMMUNICATIONS PLC GB00BVGBY890 · GBP Renta Variable Cotizada GB 0.51% 1588.00 GBp
Acciones|ASM LITHOGRAPHY HOLDING NV NL0010273215 · EUR Renta Variable Cotizada NL 0.44%
Acciones|RAIFFEISEN BANK INTERNATIONA AT0000606306 · EUR Renta Variable Cotizada AT 0.36%
Acciones|HEINEKEN NV NL0000009165 · EUR Renta Variable Cotizada NL 0.36% 72.42 EUR
Acciones|NESTLE SA CH0038863350 · CHF Renta Variable Cotizada CH 0.33%
Acciones|ASTRAZENECA PLC GB0009895292 · GBP Renta Variable Cotizada GB 0.31%
Acciones|AALBERTS NV NL0000852564 · EUR Renta Variable Cotizada NL 0.28% 42.80 EUR
Acciones|NOVARTIS AG-REG SHS CH0012005267 · CHF Renta Variable Cotizada CH 0.26%
Acciones|AIRBUS GROUP SE NL0000235190 · EUR Renta Variable Cotizada NL 0.26% 203.70 EUR
Acciones|BANCO COMERCIAL PORTUGUES SA PTBCP0AM0015 · EUR Renta Variable Cotizada PT 0.25%
Acciones|INTESA SANPAOLO SPA IT0000072618 · EUR Renta Variable Cotizada IT 0.25%
Acciones|ASSICURAZIONI GENERALI SPA IT0000062072 · EUR Renta Variable Cotizada IT 0.25%
Acciones|BRITISH PETROLEUM PLC GB0007980591 · GBP Renta Variable Cotizada GB 0.24% 549.50 GBp
Acciones|HSBC HOLDINGS PLC GB0005405286 · GBP Renta Variable Cotizada GB 0.23%
Acciones|DEUTSCHE BANK AG DE0005140008 · EUR Renta Variable Cotizada DE 0.22% 32.38 EUR
Acciones|ROCHE HOLDING AG-GENUSSS CH0012032048 · CHF Renta Variable Cotizada CH 0.21%
Acciones|DASSAULT AVIATION SA FR0014004L86 · EUR Renta Variable Cotizada FR 0.21%
Acciones|BARCLAYS BANK PLC GB0031348658 · GBP Renta Variable Cotizada GB 0.21% 492.60 GBp
Acciones|FRANCE TELECOM SA FR0000133308 · EUR Renta Variable Cotizada FR 0.21%
Acciones|NEDERLANDSE GASUNIE NV NL0011872643 · EUR Renta Variable Cotizada NL 0.20%
Acciones|UNITED INTERNET AG + CO KGAA DE0005089031 · EUR Renta Variable Cotizada DE 0.20%
Acciones|PINAULT-PRINTEMPS FR0000121485 · EUR Renta Variable Cotizada FR 0.20%
Acciones|SOCIETE GENERALE AM (AI) FRANC FR0000130809 · EUR Renta Variable Cotizada FR 0.19%
Acciones|SSE PLC GB0007908733 · GBP Renta Variable Cotizada GB 0.18%
Acciones|NATIONAL BANK OF GREECE SA GRS003003035 · EUR Renta Variable Cotizada GR 0.17%
Acciones|CIRSA ENTERPRISES SA ES0105884011 · EUR Renta Variable Cotizada ES 0.17%
Acciones|RED ELECTRICA DE ESPAÑA SA ES0173093024 · EUR Renta Variable Cotizada ES 0.15%
Acciones|SANTANDER ASSET MANAGEMENT SGI ES0113900J37 · EUR Renta Variable Cotizada ES 0.15%
Acciones|MICHELIN SA FR001400AJ45 · EUR Renta Variable Cotizada FR 0.15%
Acciones|MERLIN PROPERTIES SOCIMI SA ES0105025003 · EUR Renta Variable Cotizada ES 0.15% 14.10 EUR
Acciones|LVMH SE FR0000121014 · EUR Renta Variable Cotizada FR 0.14%
Acciones|MICROSOFT CORPORATION INC US5949181045 · USD Renta Variable Cotizada US 0.14% 483.24 USD
Acciones|DEUTSCHE TELEKOM AG DE0005557508 · EUR Renta Variable Cotizada DE 0.13%
Acciones|ALLIANZ SE DE0008404005 · EUR Renta Variable Cotizada DE 0.13%
Acciones|SCHNEIDER ELECTRIC SE FR0000121972 · EUR Renta Variable Cotizada FR 0.13%
Acciones|ANTOFAGASTA PLC GB0000456144 · GBP Renta Variable Cotizada GB 0.11% 3905.00 GBp
Acciones|INFINEON TECHOLOGIES DE0006231004 · EUR Renta Variable Cotizada DE 0.11%
Acciones|APPLE COMPUTER INC US0378331005 · USD Renta Variable Cotizada US 0.11%
Acciones|INDRA SISTEMAS SA ES0118594417 · EUR Renta Variable Cotizada ES 0.11%
Acciones|LA FRANCAISE DES JEUX SAE FR0013451333 · EUR Renta Variable Cotizada FR 0.11%
Acciones|NOVO NORDISK A/S-B DK0062498333 · DKK Renta Variable Cotizada DK 0.09%
Acciones|AIR LIQUIDE SA FR0000120073 · EUR Renta Variable Cotizada FR 0.06%

This period's moves

H2 2025 vs H1 2025 (estimated)

New: 18 Exits: 18 Increases: 1 Cuts: 0
+ CACEISBANK

Enters the portfolio at 1.89% weight.

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+ Acciones|RAIFFEISEN BANK INTERNATIONA

Enters the portfolio at 0.36% weight.

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+ Acciones|NOVARTIS AG-REG SHS

Enters the portfolio at 0.26% weight.

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+ Acciones|AIRBUS GROUP SE

Enters the portfolio at 0.26% 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.

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+ Acciones|ASSICURAZIONI GENERALI SPA

Enters the portfolio at 0.25% weight.

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+ Acciones|BRITISH PETROLEUM PLC

Enters the portfolio at 0.24% 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.

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+ Acciones|HSBC HOLDINGS PLC

Enters the portfolio at 0.23% weight.

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+ Acciones|BARCLAYS BANK PLC

Enters the portfolio at 0.21% 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.

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+ Acciones|UNITED INTERNET AG + CO KGAA

Enters the portfolio at 0.20% weight.

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+ Acciones|PINAULT-PRINTEMPS

Enters the portfolio at 0.20% weight.

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+ Acciones|SOCIETE GENERALE AM (AI) FRANC

Enters the portfolio at 0.19% weight.

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+ Acciones|SSE PLC

Enters the portfolio at 0.18% weight.

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+ Acciones|CIRSA ENTERPRISES SA

Enters the portfolio at 0.17% weight.

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+ Acciones|MICHELIN SA

Enters the portfolio at 0.15% weight.

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+ Acciones|MERLIN PROPERTIES SOCIMI SA

Enters the portfolio at 0.15% weight.

MERLIN Properties SOCIMI, S.A. is one of the largest real estate and infrastructure companies listed on the Spanish Stock Exchange. It specializes in the development, acquisition and management of commercial property in the Iberian Peninsula, mainly investing in offices, shopping centers, logistics facilities and data centers within the Core and Core Plus segments. MERLIN Properties SOCIMI, S.A. was incorporated in 2014 in Spain.

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+ Acciones|DEUTSCHE TELEKOM AG

Enters the portfolio at 0.13% weight.

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+ Acciones|ALLIANZ SE

Enters the portfolio at 0.13% weight.

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+ Acciones|LA FRANCAISE DES JEUX SAE

Enters the portfolio at 0.11% weight.

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− CACEISBANK

Leaves the portfolio; it was 2.72% of weight.

− Acciones|REPSOL SA

Leaves the portfolio; it was 0.33% of weight.

− Acciones|AXA SA

Leaves the portfolio; it was 0.25% of weight.

− Acciones|INMOBILIARIA COLONIAL, S.A.

Leaves the portfolio; it was 0.24% 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.

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− Acciones|BEFESA SA

Leaves the portfolio; it was 0.22% of weight.

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− Acciones|CORP ACCIONA ENERGIAS RENOVA

Leaves the portfolio; it was 0.20% of weight.

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− Acciones|VALLEHERMOSO S.A.

Leaves the portfolio; it was 0.20% of weight.

Sacyr, S.A. engages in the development and operation of infrastructure concessions worldwide. It is involved in the infrastructure development, such as transportation, sanitation, water, and waste treatment; development of large-scale civil engineering, industrial transport infrastructure, and building projects; water treatment, purification, desalination, purification, and reuse, as well as operation and maintenance of facilities. The company was formerly known as Sacyr Vallehermoso S.A. and changed its name to Sacyr, S.A. in August 2013. Sacyr, S.A. is based in Madrid, Spain.

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− Acciones|NATIONAL GRID PLC

Leaves the portfolio; it was 0.20% of weight.

− Acciones|GRAND CITY PROPERTIES SA

Leaves the portfolio; it was 0.18% of weight.

− Acciones|KONINKLIJKE KPN NV

Leaves the portfolio; it was 0.18% of weight.

− Acciones|ISS AS

Leaves the portfolio; it was 0.17% of weight.

− Acciones|TECNICAS REUNIDAS SA

Leaves the portfolio; it was 0.16% of weight.

Técnicas Reunidas, S.A., an engineering and construction company, designs and manages industrial plant projects worldwide. It operates through Upstream & Refining, Natural gas, Petrochemical, Low-carbon technologies, and Other segments. The Refining segment offers management, engineering, procurement, construction and commissioning services for facilities along the entire value chain to produce fuels. The Natural gas segment provides direction, management, engineering, procurement, construction and commissioning services for facilities throughout the supply chain, from natural gas production to regasification terminals; and treatment and processing plants, compressor and liquefaction stations, storage tanks, and final regasification facilities. The Petrochemical segment provides direction, management, engineering, procurement, construction and startup services for facilities dedicated to the production of basic chemical materials used in water distribution, pharmaceuticals, health, food, energy efficiency in buildings and transport systems, and others. The Low-carbon technologies segment offers hydrogen, carbon capture and storage, circular economy and bioproducts; produces biomethane and converts biomass and waste into fuels, biodiesel, biokerosene, chemicals, and power and steam generation. The Other segment offers water treatment, port infrastructures, and oil production. In addition, the company is involved in real estate-related activities, consultancy and assistance in international engineering projects, project execution, and machinery wholesale business. Técnicas Reunidas, S.A. was formerly known as Lummus Española, S.A. and changed its name to Técnicas Reunidas, S.A. in 1972. The company was incorporated in 1960 and is headquartered in Madrid, Spain.

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− Acciones|BNP PARIBAS SECURITIES

Leaves the portfolio; it was 0.16% of weight.

− Acciones|HANNOVER RUECK SE

Leaves the portfolio; it was 0.14% of weight.

− Acciones|BREMBO N.V.

Leaves the portfolio; it was 0.13% of weight.

− Acciones|AKZO NOBEL NV

Leaves the portfolio; it was 0.12% of weight.

− Acciones|UPM-KYMMENE OYJ

Leaves the portfolio; it was 0.12% of weight.

− Acciones|PAGE GROUP PLC

Leaves the portfolio; it was 0.11% of weight.

Michael Page Plc, together with its subsidiaries, provides recruitment consultancy and other ancillary services in the United Kingdom, Europe, the Middle East, Africa, the Asia Pacific, and the Americas. It offers executive search services, such as search, selection, and talent management solutions for organizations on a permanent and interim basis under the Page Executive brand; and recruitment services for qualified professional and management level on permanent, temporary, and contract or interim basis under the Michael Page brand. The company also provides recruitment services to organizations requiring permanent employees, temporary, or contract staff at technical and administrative support, professional clerical, and junior management levels under the Page Personnel brand; and flexible offering outsourcing services under the Page Outsourcing brand. In addition, it is involved in the provision of IT consultancy and support services. The company was formerly known as PageGroup plc and changed its name to Michael Page Plc in July 2026. Michael Page Plc was founded in 1976 and is headquartered in Addlestone, the United Kingdom.

▲ Acciones|ZEGONA COMMUNICATIONS PLC

Goes from 0.10% to 0.51%.

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.

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Fixed income

Declared FI exposure
2.7 M €
% of portfolio
1.9%
Positions
1
Issuers
0
Sovereign: 0 € Corporate: 0 € Repos / treasury management: 2.7 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.

Maturity Positions Exposure %
Matured or ≤3 months 0 0 € 0.0%
3-6 months 0 0 € 0.0%
6-12 months 0 0 € 0.0%
1-2 years 0 0 € 0.0%
2-5 years 0 0 € 0.0%
5-10 years 0 0 € 0.0%
> 10 years 0 0 € 0.0%
Unknown 0 0 € 0.0%

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.