Manager
RENTA 4 GESTORA, S.G.I.I.C., S.A.
See the CNMV manager universe →
Fund page
RENTA 4 ALPHA GLOBAL, FI
Category
—
Latest period
H2 2025
Positions
55
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.
55
Company
Type
Country
Weight
Price
This period's moves
H2 2025 vs H1 2025 (estimated)
New: 30
Exits: 24
Increases: 3
Cuts: 10
+ ACCIONES|INMOBILIARIA COLONIAL SO
Enters the portfolio at 2.12% 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|GRIFOLS SA
Enters the portfolio at 0.68% weight.
Grifols, S.A., together with its subsidiaries, engages in the research, development, production, and marketing of plasma-derived medicines in the United States, Canada, Spain, Europe, and internationally. It operates through four segments: Biopharma, Diagnostic, Bio Supplies, and Others. The company offers various hemoderivatives from human plasma for immunology, infectious diseases, hepatology, intensive care, pulmonology, hematology, and neurology treatment areas; and markets diagnostic testing equipment, reagents, and other equipment, as well as provides transfusion medicine, clinical diagnostics, and testing services. It also offers biological products, including albumin, albumin-derived products, immunoglobulins, thrombin, other proteins, and intermediate plasma products to pharma and biotech companies for biopharma use; and whole blood, blood components, processed plasma, and clinical samples to life-science research and in-vitro diagnostic companies for diagnostic use. In addition, the company provides healthcare solutions for hospitals, such as intravenous solutions to maintain or restore fluids and electrolyte balance in patients; high-tech solutions to automate hospital processes; clinical nutrition to deliver nutrition and medication; and medical devices comprising instrumentation and disposable materials for various hospital services, which include interventional neuroradiology, hemodynamics, urology, anesthesiology and cardiovascular surgery, as well as manufacturing services to third parties and research activities. Further, it is involved in engineering services; packaging, labelling, storage, distribution, manufacturing, and development of pharmaceutical products; import, export, and commercialization activities; travel agency services; reinsurance of insurance policies; support services; law business; and consultation, administration, and financing services. The company was founded in 1909 and is headquartered in Barcelona, Spain.
View company page →+ ACCIONES|C&C Group PLC
Enters the portfolio at 0.43% weight.
C&C Group plc engages in the manufacture, marketing, and distribution of beer, cider, wine, spirits, and soft drinks in the United Kingdom, the Republic of Ireland, Great Britain, and internationally. The company offers its products primarily under the Tennent's, Bulmers, Magners, Orchard Pig, Heverlee, Blackthorn, Dowd's Lane, Chaplin & Cork's, Caledonia Best, Addlestones, Drygate, Innis & Gunn, Menabrea, Gerard Bertrand, Santa Rita, Bottega, Jubel, Tennent's Ni, Tennent's Direct, Bibendum, and Matthew Clark brands. C&C Group plc was founded in 1935 and is headquartered in Dublin, the Republic of Ireland.
View company page →+ ACCIONES|Mosaic Co/The
Enters the portfolio at 0.28% weight.
The Mosaic Company, through its subsidiaries, produces and markets concentrated phosphate and potash crop nutrients. It operates in three segments: Phosphates, Potash, and Mosaic Fertilizantes. The company owns and operates mines and production facilities, which produce concentrated phosphate crop nutrients and phosphate-based animal feed ingredients, as well as concentrated phosphate crop nutrients, such as diammonium phosphate, monoammonium phosphate, and MicroEssentials, a value-added ammoniated phosphate product. It also mines, processes, and sells potash to crop nutrient manufacturers, distributors, retailers, and to customers for industrial use; and owns and operates mines, chemical plants, crop nutrient blending and bagging facilities, port terminals and warehouses, which produce and sell concentrated phosphate and potash-based crop nutrients, and phosphate-based animal feed ingredients. In addition, the company produces a double sulfate of potash magnesia product under the K-Mag brand; and purchases phosphate, potash, and nitrogen products to produce blended crop nutrients. Further, it offers triple superphosphate, single superphosphate, and dicalcium phosphate; feed phosphate under the Biofos and Nexfos brands; potash for de-icing and as a water softener regenerant; and phosphogypsum. The company sells its products to wholesale distributors, retail chains, cooperatives, independent retailers, and national accounts through its sales force. It also exports its products. The company operates in the United States, Brazil, China, Canada, Paraguay, Argentina, Japan, Colombia, India, Australia, Peru, Mexico, Honduras, the Dominican Republic, Indonesia, and internationally. The Mosaic Company was incorporated in 1987 and is headquartered in Tampa, Florida.
View company page →+ ACCIONES|K+S AG
Enters the portfolio at 0.17% weight.
K+S Aktiengesellschaft, together with its subsidiaries, operates as a supplier of mineral products for the agricultural, industrial, pharma, consumer, and community sectors in Europe, Germany, North America, South America, Asia, Africa, and Oceania. The company offers potassium chloride for crops, such as grain, corn, rice, soybeans, and sugar cane; fertilizer specialties that are used for crops with magnesium and sulfur requirements, including rapeseed, sugar beet, and potatoes, as well as for chloride-sensitive specialty crops such as citrus, grapes, coffee, almond trees, and vegetables; and water-soluble fertilizers for use in fertigation of fruit and vegetables under the KALISOP, KORN-KALI, ROLLKALI, PATENTKALI, ESTA KIESERIT, GRANUAID, MAGNESIA-KAINIT, SOLUMOP, SOLUSOP, SOLUCMS, EPSO TOP, EPSO MICROTOP, EPSO COMBITOP, EPSO PROFITOP, and EPSO BORTOP brands. It also provides soil, fertigation, foliar fertilizers, natural rock salt, high-purity vaccum salt and mineral salt mixtures, potassium chloride, potassium sulphate, Epsom salt, minerals for pets and livestock, potassium, magnesium, salt, salt licks for farm and wild animals, sodium chloride, salt tablets, and vacuum salt granules under the k-DRILL, KaSa, SOLSEL, NUTRIKS, AXAL PRO, REGINET, Regesal, Marina, Marina Plus, Solea, and APISAL brands. In addition, the company offers salts under the Cérébos brand; rock salt under the Solné mlýny Olomouc brand; sea salt under the Vatel and Salinas d'Algarve brands; Saltissimo brands; optimal solutions for their homes under the AXAL Pro and AXAL brand; rock and pink salts under the Saldoro brand; dishwasher salt under the Regesoft brand; and Coarse rock salt under the DI-MIX brand. Further, the company provides waste management; and transportation and logistics services. Aktiengesellschaft was founded in 1889 and is headquartered in Kassel, Germany.
View company page →− SPAIN LETRAS DEL TESORO
Leaves the portfolio; it was 3.49% of weight.
− GERMAN TREASURY BILL
Leaves the portfolio; it was 2.97% of weight.
− GERMAN TREASURY BILL
Leaves the portfolio; it was 2.96% of weight.
− SPAIN LETRAS DEL TESORO
Leaves the portfolio; it was 2.95% of weight.
− SPAIN LETRAS DEL TESORO
Leaves the portfolio; it was 2.93% of weight.
− FRENCH DISCOUNT T-BILL
Leaves the portfolio; it was 2.91% of weight.
− GERMAN TREASURY BILL
Leaves the portfolio; it was 2.37% of weight.
− FRENCH DISCOUNT T-BILL
Leaves the portfolio; it was 2.37% of weight.
− FRENCH DISCOUNT T-BILL
Leaves the portfolio; it was 2.36% of weight.
− SPAIN LETRAS DEL TESORO
Leaves the portfolio; it was 2.34% of weight.
− FRENCH DISCOUNT T-BILL
Leaves the portfolio; it was 2.34% of weight.
− SPAIN LETRAS DEL TESORO
Leaves the portfolio; it was 1.77% of weight.
− FRENCH DISCOUNT T-BILL
Leaves the portfolio; it was 1.74% of weight.
− FRENCH DISCOUNT T-BILL
Leaves the portfolio; it was 1.46% of weight.
− SPAIN LETRAS DEL TESORO
Leaves the portfolio; it was 1.46% of weight.
− GERMAN TREASURY BILL
Leaves the portfolio; it was 1.17% of weight.
− ACCIONES|VODAFONE GROUP PLC
Leaves the portfolio; it was 0.81% of weight.
− ACCIONES|ORANGE SA
Leaves the portfolio; it was 0.77% of weight.
− ACCIONES|Roche Holding AG
Leaves the portfolio; it was 0.50% of weight.
− ACCIONES|Dr Ing hc F Porsche AG
Leaves the portfolio; it was 0.46% 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|BAYER AG
Leaves the portfolio; it was 0.38% of weight.
Bayer Aktiengesellschaft operates as a life science company in Europe, the Middle East, Africa, Germany, Switzerland, North America, the United States, the Asia Pacific, China, Latin America, and Brazil. It operates through Pharmaceuticals, Consumer Health, and Crop Science segments. The Pharmaceuticals segment provides prescription products primarily for cardiology and women's health care; specialty therapeutics in the areas of oncology, hematology, and ophthalmology; and diagnostic imaging equipment and contrast agents, as well as cell and gene therapy. The Consumer Health segment offers nonprescription over-the-counter medicines for self-medication and self-care; nutritional supplements; allergy, cough, and cold; dermatology; pain and cardiovascular risk prevention; and digestive health products. The Crop Science segment offers chemical and biological crop protection products, improved plant traits, seeds, digital solutions, and pest and weed management products, as well as customer services for agriculture. It also engages in the breeding, propagation, and production/processing of seeds, including seed dressing. The company distributes its products through wholesalers, pharmacies and pharmacy chains, supermarkets, online and other retailers, and hospitals, as well as directly to farmers. Bayer Aktiengesellschaft has a strategic alliance with The University of Colorado Anschutz, along with UCHealth and Children's Hospital Colorado to advance drug development and clinical trials. Bayer Aktiengesellschaft has a strategic alliance Henry Ford Health. Bayer Aktiengesellschaft was founded in 1863 and is based in Leverkusen, Germany.
View company page →− ACCIONES|ASTRAZENECA PLC
Leaves the portfolio; it was 0.35% of weight.
− ACCIONES|GSK PLC
Leaves the portfolio; it was 0.29% of weight.
GSK plc, together with its subsidiaries, engages in the research, development, and manufacture of vaccines, specialty medicines, and general medicines to prevent and treat disease in the United Kingdom, the United States, and internationally. It operates through Commercial Operations and Total R&D segments. The company offers specialty medicines that include oncology, respiratory/immunology, inflammation, and inhaled medicines for HIV, respiratory eosinophildriven diseases, lupus and lupus nephritis, ovarian cancer, and endometrial cancer. It also provides vaccines for Shingles, Meningitis, RSV, Seasonal Influenza, Hepatitis, Diphtheria, Tetanus, Acellular Pertussis, Rotavirus, Pertussis, Polio, Haemophilus, Invasive Diseases, Pneumonia, Acute Otitis Media, Measles, Mumps, Rubella and Chickenpox, and Human Papilloma Virus. Additionally, the company offers general medicines for asthma, COPD, bacterial infection, benign prostatic hyperplasia, allergic rhinitis, and inflammatory skin conditions. It also focuses on the discovery, development, and commercialization of oral small molecule therapies for patients with unmet needs in oncology and inflammatory diseases. It has a collaboration agreement with CureVac to develop mRNA vaccines for infectious diseases; and strategic research collaboration with Engitix Ltd. to identify and validate novel therapeutic targets driving liver fibrosis regression. The company has a strategic alliance with AN2 Therapeutics, Inc. for the development of new therapies for TB. GSK plc was formerly known as GlaxoSmithKline plc and changed its name to GSK plc in May 2022. The company was founded in 1715 and is headquartered in London, United Kingdom.
View company page →− ACCIONES|LVMH MOET HENNESSY VUITT
Leaves the portfolio; it was 0.29% of weight.
▲ ACCIONES|TELEPERFORMANCE
Goes from 0.62% to 0.86%.
Teleperformance SE, together with its subsidiaries, operates as a digital business services company in France and internationally. The company operates in Core Services and Specialized Services segments. The company offers customer relationship, technical assistance, and customer acquisition services; business processes management, and back office and digital platform services; online interpretation, visa application management, health management, recruitment process outsourcing advisory and assistance, and accounts receivable credit management services. It also provides digital CX, trust and safety, artificial intelligence, real-time speech understanding, StoryfAI application, TP microservices, and video CX; back-office processing, integrated sales, finance and accounting, smartshoring, work-at-home, multilingual services, ad sales, and rebadging solutions; advanced analytics, business process optimization, business transformation consulting, and technology services; and claims management, collection services, interpretation and translation, recruitment process outsourcing, visa and consular services, and healthcare support. The company serves automotive, energy and utilities, media, government, technology, travel, hospitality, cargo, banking and financial services, healthcare, insurance, retail and e-commerce, telecom, and video games industries. The company was incorporated in 1910 and is based in Paris, France.
View company page →▼ ACCIONES|Bakkafrost P/F
Goes from 0.68% to 0.36%.
P/F Bakkafrost, together with its subsidiaries, engages in the production and sale of salmon products in North America, Western Europe, Eastern Europe, Asia, and internationally. The company operates through seven segments: Fishmeal, Fish Oil and Fish Feed; Freshwater Faroe Islands; Freshwater Scotland; Farming Faroe Islands; Farming Scotland; Services; and Sales & Other. Its products include fresh and frozen whole salmon, fresh and frozen salmon fillets, fresh skin-packed salmon portions, frozen salmon portions and tails, frozen smoked salmon and salmon fillets, frozen salmon bits and pieces, frozen salmon off-cuts and belly flaps, frozen salmon heads, salmon backbones, and salmon skin. The company is also involved in the production and sale of fishmeal, fish oil, and fish feed; production of eggs from breeding self-owned salmon strains; production of smolts; and on-growing of salmon. In addition, it manages a fleet of farming service vessels; provides fish transportation, treatments, net cleaning, harvesting, freight and logistical, and heavy marine support services; converts organic waste into biogas, heating, electricity, and fertilizers; produces styrofoam boxes; and optimizes the value creation and retention from the harvested fish. P/F Bakkafrost was founded in 1968 and is headquartered in Glyvrar, Denmark.
View company page →Fixed income
Declared FI exposure
27.5 M €
% of portfolio
76.4%
Positions
31
Issuers
4
Sovereign: 27.5 M €
Corporate: 0 €
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 · 33.3%3-6 months · 27.5%6-12 months · 29.9%1-2 years · 1.4%5-10 years · 1.1%> 10 years · 6.9%
Maturity
Positions
Exposure
%
Matured or ≤3 months
10
9.2 M €
33.3%
3-6 months
8
7.6 M €
27.5%
6-12 months
9
8.2 M €
29.9%
1-2 years
1
372,778 €
1.4%
2-5 years
0
0 €
0.0%
5-10 years
1
292,679 €
1.1%
> 10 years
2
1.9 M €
6.9%
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
Bundesrepublik Deutschland
Sovereign
13
13.8 M €
2026-01-14
FRENCH DISCOUNT T-BILL
Sovereign
7
6.9 M €
2026-01-14
Reino de España
Sovereign
6
5.4 M €
2026-01-16
FRANCE (GOVT OF)
Sovereign
3
1.4 M €
2026-02-25
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
DE0001102572 Bundesrepublik Deutschland
3.38%
2052-08-15
1.4 M €
DE000BU0E246 Bundesrepublik Deutschland
1.88%
2026-01-14
992,412 €
ES0L02602065 Reino de España
2.01%
2026-02-06
991,991 €
FR0128983980 FRENCH DISCOUNT T-BILL
1.98%
2026-01-14
991,740 €
FR0129132694 FRENCH DISCOUNT T-BILL
2.02%
2026-02-11
990,405 €
ES0L02606058 Reino de España
2.00%
2026-06-05
990,064 €
DE000BU0E246 Bundesrepublik Deutschland
1.79%
2026-01-14
989,561 €
DE000BU0E261 Bundesrepublik Deutschland
1.81%
2026-02-18
985,762 €
FR0129132736 FRENCH DISCOUNT T-BILL
2.09%
2026-08-12
985,446 €
FR0129287316 FRENCH DISCOUNT T-BILL
2.15%
2026-10-07
983,144 €
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: 16
Exits not explained by maturity: 0
+ BUNDESREPUB. DEUTSCHLAND
Enters the portfolio at 4.01% weight.
+ SPAIN LETRAS DEL TESORO
Enters the portfolio at 2.76% weight.
+ FRENCH DISCOUNT T-BILL
Enters the portfolio at 2.75% weight.
+ FRENCH DISCOUNT T-BILL
Enters the portfolio at 2.75% weight.
+ SPAIN LETRAS DEL TESORO
Enters the portfolio at 2.75% weight.
+ FRENCH DISCOUNT T-BILL
Enters the portfolio at 2.74% weight.
+ FRENCH DISCOUNT T-BILL
Enters the portfolio at 2.73% weight.
+ BUNDESSCHATZANWEISUNGEN
Enters the portfolio at 1.91% weight.
+ BUNDESSCHATZANWEISUNGEN
Enters the portfolio at 2.73% weight.
+ BUNDESSCHATZANWEISUNGEN
Enters the portfolio at 2.73% weight.
+ BUNDESSCHATZANWEISUNGEN
Enters the portfolio at 2.73% weight.
+ BUNDESSCHATZANWEISUNGEN
Enters the portfolio at 2.72% weight.
+ SPAIN LETRAS DEL TESORO
Enters the portfolio at 2.72% weight.
+ FRENCH DISCOUNT T-BILL
Enters the portfolio at 2.72% weight.
+ BUNDESREPUB. DEUTSCHLAND
Enters the portfolio at 1.24% weight.
+ FRANCE (GOVT OF)
Enters the portfolio at 0.81% weight.
◦ SPAIN LETRAS DEL TESORO
Leaves the portfolio; it was 3.49% of weight.
◦ GERMAN TREASURY BILL
Leaves the portfolio; it was 2.97% of weight.
◦ GERMAN TREASURY BILL
Leaves the portfolio; it was 2.96% of weight.
◦ SPAIN LETRAS DEL TESORO
Leaves the portfolio; it was 2.95% of weight.
◦ SPAIN LETRAS DEL TESORO
Leaves the portfolio; it was 2.93% of weight.
◦ FRENCH DISCOUNT T-BILL
Leaves the portfolio; it was 2.91% of weight.
◦ GERMAN TREASURY BILL
Leaves the portfolio; it was 2.37% of weight.
◦ FRENCH DISCOUNT T-BILL
Leaves the portfolio; it was 2.37% of weight.
◦ FRENCH DISCOUNT T-BILL
Leaves the portfolio; it was 2.36% of weight.
◦ SPAIN LETRAS DEL TESORO
Leaves the portfolio; it was 1.46% of weight.
◦ FRENCH DISCOUNT T-BILL
Leaves the portfolio; it was 2.34% of weight.
◦ SPAIN LETRAS DEL TESORO
Leaves the portfolio; it was 2.34% of weight.
◦ SPAIN LETRAS DEL TESORO
Leaves the portfolio; it was 1.77% of weight.
◦ FRENCH DISCOUNT T-BILL
Leaves the portfolio; it was 1.74% of weight.
◦ FRENCH DISCOUNT T-BILL
Leaves the portfolio; it was 1.46% of weight.
◦ GERMAN TREASURY BILL
Leaves the portfolio; it was 1.17% 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.