SIGMA INVESTMENT HOUSE FLEXIBLE GLOBAL, FI: full portfolio filed with the CNMV

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.

30

Company Type Country Weight Price

BANCO INVERSIS, S.A. ES0000012J15 · EUR Adquisicion Temporal Activos ES 14.72% —

US TREASURY N/B US912828X885 · USD Deuda Publica Cotizada Mas 1 Anio US 4.08% —

KUTXABANK SA ES0343307031 · EUR Renta Fija Cotizada Mas 1 Anio ES 2.46% —

IBERDROLA FINANZAS S XS2580221658 · EUR Renta Fija Cotizada Mas 1 Anio XS 1.69% —

ROMANIA XS2538441598 · EUR Deuda Publica Cotizada Mas 1 Anio XS 1.35% —

SERVICIOS MEDIO AMBI XS2661068234 · EUR Renta Fija Cotizada Mas 1 Anio XS 1.32% —

BANCA COMERCIALA ROM AT0000A34CN3 · EUR Renta Fija Cotizada Mas 1 Anio AT 1.27% —

IBERCAJA BANCO SA ES0344251014 · EUR Renta Fija Cotizada Mas 1 Anio ES 1.24% —

ENEL FINANCE INTL NV XS1425966287 · EUR Renta Fija Cotizada Menos 1 Anio XS 1.13% —

US TREASURY N/B US91282CGV72 · USD Deuda Publica Cotizada Memos 1 Anio US 1.03% —

GENERAL ELECTRIC CO US369604BW26 · USD Renta Fija Cotizada Mas 1 Anio US 1.01% —

ACCIONES|VISCOFAN ES0184262212 · EUR Renta Variable Cotizada ES 0.92% —

US TREASURY N/B US91282CLR06 · USD Deuda Publica Cotizada Mas 1 Anio US 0.88% —

BANKINTER SA XS2585553097 · EUR Renta Fija Cotizada Mas 1 Anio XS 0.88% —

BNP PARIBAS FR001400BBL2 · EUR Renta Fija Cotizada Mas 1 Anio FR 0.88% —

CREDIT AGRICOLE SA FR001400N2U2 · EUR Renta Fija Cotizada Mas 1 Anio FR 0.86% —

AXA SA XS3085146929 · EUR Renta Fija Cotizada Mas 1 Anio XS 0.85% —

GESTAMP AUTOMOCION S XS3193932699 · EUR Renta Fija Cotizada Mas 1 Anio XS 0.82% —

BANKINTER SA XS2199369070 · EUR Renta Fija Cotizada Mas 1 Anio XS 0.82% —

Repsol Internac. XS3231216998 · EUR Renta Fija Cotizada Mas 1 Anio XS 0.81% —

TELECOM ITALIA SPA XS1419869885 · EUR Renta Fija Cotizada Menos 1 Anio XS 0.81% —

PROSEGUR XS1729879822 · EUR Renta Fija Cotizada Menos 1 Anio XS 0.74% —

DEUTSCHE BANK AG DE000DL19VT2 · EUR Renta Fija Cotizada Mas 1 Anio DE 0.73% —

ACCIONES|NATAC NATURAL INGRED ES0171613005 · EUR Renta Variable Cotizada ES 0.72% —

SERVICE CORP INTL US817565CD49 · USD Renta Fija Cotizada Mas 1 Anio US 0.66% —

FAIR ISAAC CORP USU2947RAB51 · USD Renta Fija Cotizada Mas 1 Anio US 0.64% —

ACCIONES|Enerside Energy ES0105634002 · EUR Renta Variable Cotizada ES 0.60% —

ACCIONES|Atrys Health SA ES0105148003 · EUR Renta Variable Cotizada ES 0.51% —

ACCIONES|Hannun ES0105637005 · EUR Renta Variable Cotizada ES 0.06% —

ACCIONES|Hannun ES0105637021 · EUR Renta Variable Cotizada ES 0.02% —

This period's moves

H2 2025 vs H1 2025 (estimated)

New: 11 Exits: 4 Increases: 0 Cuts: 1

+ BANCO INVERSIS, S.A.

Enters the portfolio at 14.72% weight.

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+ US TREASURY N/B

Enters the portfolio at 4.08% weight.

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+ GENERAL ELECTRIC CO

Enters the portfolio at 1.01% weight.

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+ ACCIONES|VISCOFAN

Enters the portfolio at 0.92% weight.

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+ US TREASURY N/B

Enters the portfolio at 0.88% weight.

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+ BNP PARIBAS

Enters the portfolio at 0.88% weight.

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+ CREDIT AGRICOLE SA

Enters the portfolio at 0.86% weight.

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+ AXA SA

Enters the portfolio at 0.85% weight.

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+ GESTAMP AUTOMOCION S

Enters the portfolio at 0.82% weight.

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+ Repsol Internac.

Enters the portfolio at 0.81% weight.

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+ ACCIONES|Hannun

Enters the portfolio at 0.02% weight.

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− BANCO INVERSIS, S.A.

Leaves the portfolio; it was 17.87% of weight.

− BANCO BILBAO VIZCAYA

Leaves the portfolio; it was 1.17% of weight.

− AAREAL BANK AG

Leaves the portfolio; it was 0.79% of weight.

− FEDEX CORP

Leaves the portfolio; it was 0.75% of weight.

▼ ACCIONES|Enerside Energy

Goes from 1.32% to 0.60%.

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Fixed income

Declared FI exposure

10.2 M €

% of portfolio

41.7%

Positions

24

Issuers

20

Sovereign: 1.8 M € Corporate: 4.8 M € Repos / treasury management: 3.6 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.

11% 39% 22% 25%

Matured or ≤3 months · 2.7%3-6 months · 11.0%1-2 years · 38.7%2-5 years · 22.4%> 10 years · 25.1%

Maturity Positions Exposure %

Matured or ≤3 months 1 181,342 € 2.7%

3-6 months 3 728,320 € 11.0%

6-12 months 0 0 € 0.0%

1-2 years 6 2.6 M € 38.7%

2-5 years 6 1.5 M € 22.4%

5-10 years 0 0 € 0.0%

> 10 years 7 1.7 M € 25.1%

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

United States Treasury Sovereign 3 1.5 M € 2026-04-15

KUTXABANK SA Bank 1 602,889 € 2027-06-15

BANKINTER, S.A. Bank 2 415,162 € 2049-02-15

IBERDROLA FINANZAS S Corporate 1 414,704 € 2049-07-25

ROMANIA Sovereign 1 331,540 € 2029-09-27

SERVICIOS MEDIO AMBI Corporate 1 323,804 € 2029-10-30

BANCA COMERCIALA ROM Corporate 1 312,414 € 2027-05-19

IBERCAJA BANCO SA Corporate 1 303,490 € 2027-06-07

ENEL FINANCE INTL NV Corporate 1 277,869 € 2026-06-01

GENERAL ELECTRIC CO Corporate 1 248,230 € 2030-05-01

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

US912828X885 United States Treasury 2.38% 2027-05-15 999,938 €

ES0343307031 KUTXABANK SA 4.75% 2027-06-15 602,889 €

XS2580221658 IBERDROLA FINANZAS S 4.88% 2049-07-25 414,704 €

XS2538441598 ROMANIA 6.63% 2029-09-27 331,540 €

XS2661068234 SERVICIOS MEDIO AMBI 5.25% 2029-10-30 323,804 €

AT0000A34CN3 BANCA COMERCIALA ROM 7.63% 2027-05-19 312,414 €

ES0344251014 IBERCAJA BANCO SA 5.63% 2027-06-07 303,490 €

XS1425966287 ENEL FINANCE INTL NV 1.38% 2026-06-01 277,869 €

US91282CGV72 United States Treasury 3.75% 2026-04-15 252,179 €

US369604BW26 GENERAL ELECTRIC CO 3.63% 2030-05-01 248,230 €

Currencies

Fixed-income exposure by instrument currency.

Currency Exposure %

EUR 8.2 M € 80.1%

USD 2.0 M € 19.9%

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: 8 Exits at maturity: 3 Exits not explained by maturity: 0

+ US TREASURY N/B

Enters the portfolio at 4.08% weight.

+ GENERAL ELECTRIC CO

Enters the portfolio at 1.01% weight.

+ US TREASURY N/B

Enters the portfolio at 0.88% weight.

+ BNP PARIBAS

Enters the portfolio at 0.88% weight.

+ CREDIT AGRICOLE SA

Enters the portfolio at 0.86% weight.

+ AXA SA

Enters the portfolio at 0.85% weight.

+ GESTAMP AUTOMOCION S

Enters the portfolio at 0.82% weight.

+ Repsol Internac.

Enters the portfolio at 0.81% weight.

◦ BANCO BILBAO VIZCAYA

Leaves the portfolio; it was 1.17% of weight.

◦ AAREAL BANK AG

Leaves the portfolio; it was 0.79% of weight.

◦ FEDEX CORP

Leaves the portfolio; it was 0.75% 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.