Manager
AMUNDI IBERIA, SGIIC, S.A.
See the CNMV manager universe →
Fund page
TARFONDO, FI
Category
—
Latest period
H2 2025
Positions
86
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.
86
Company
Type
Country
Weight
Price
This period's moves
H2 2025 vs H1 2025 (estimated)
New: 26
Exits: 18
Increases: 4
Cuts: 2
+ ACCIONES|ACS ACTIVIDADES DE CONSTRUCCION
Enters the portfolio at 0.32% weight.
View company page →+ ACCIONES|CIE FINANCIERE RICHEMONT SA
Enters the portfolio at 0.21% weight.
Compagnie Financière Richemont SA, an investment holding company, engages in the luxury goods business. The company operates through Jewellery Maisons, Specialist Watchmakers, and Other segments. It is involved in the design, manufacture, and distribution of jewelry products, precision timepieces, watches, writing instruments, clothing, and leather goods and accessories. The company provides its products under the Cartier, Van Cleef & Arpels, Vhernier, Buccellati, A. Lange & Söhne, Baume & Mercier, IWC Schaffhausen, Jaeger-LeCoultre, Panerai, Piaget, Roger Dubuis, Vacheron Constantin, Alaïa, Chloé, Delvaux, dunhill, G/FORE, Gianvito Rossi, Montblanc, Peter Millar, Purdey, Serapian, Watchfinder&Co., TIMEVALLEE, and brand names through retail online retail, and wholesale distribution channels. It offers its products in France, the United Kingdom, Italy, Switzerland, rest of Europe, the United Arab Emirates, rest of the Middle East, Africa, China, Hong Kong, Macau, Japan, South Korea, rest of Asia, the United States, and rest of the Americas. The company was incorporated in 1979 and is headquartered in Bellevue, Switzerland.
View company page →+ ACCIONES|BOOKING HOLDINGS INC
Enters the portfolio at 0.18% weight.
Booking Holdings Inc., together with its subsidiaries, provides online and traditional travel and restaurant reservations and related services in the United States, the Netherlands, the United Kingdom, and internationally. The company operates Booking.com, which offers online accommodation reservations; and Priceline, which provides discount travel reservations services, as well as online accommodation, flight, rental car reservation services, vacation packages, cruises, activity, and affiliate programs. It also operates Agoda that offers online accommodation reservation, flight, ground transportation, and attractions. In addition, the company operates KAYAK, an online meta-search service that allows consumers to search and compare travel itineraries and prices; and OpenTable for booking online restaurant reservations, as well as reservation management services to restaurants. Further, it offers travel-related insurance products, payment facilitation, and restaurant management services to consumers, travel service providers, and restaurants; and advertising services. The company was formerly known as The Priceline Group Inc. and changed its name to Booking Holdings Inc. in February 2018. Booking Holdings Inc. was founded in 1997 and is headquartered in Norwalk, Connecticut.
View company page →+ ACCIONES|PROSUS NV (PRX NA)
Enters the portfolio at 0.15% weight.
Prosus N.V. engages in the e-commerce and internet businesses in Asia, Europe, Latin America, North America, and internationally. It operates internet platforms, such as classifieds, payments and fintech, etail, food delivery, education technology, Etail, ventures, tencent, and other platforms. It also provides online food delivery service. The company was formerly known as Myriad International Holdings N.V. and changed its name to Prosus N.V. Prosus N.V. was incorporated in 1994 and is headquartered in Amsterdam, the Netherlands.
View company page →− ITALY BUONI POLI
Leaves the portfolio; it was 1.36% of weight.
− ITALY GOVERNMENT
Leaves the portfolio; it was 1.36% of weight.
− SPAIN LETRAS DEL TESORO
Leaves the portfolio; it was 1.36% of weight.
− UNITED STATES TR
Leaves the portfolio; it was 0.59% of weight.
− ACCIONES|COMPASS GROUP PLC (CPG LN)
Leaves the portfolio; it was 0.59% of weight.
− ZF FINANCE GMBH
Leaves the portfolio; it was 0.47% of weight.
− ACCIONES|SERVICENOW INC
Leaves the portfolio; it was 0.32% of weight.
− ACCIONES|SALESFORCE.COM INC
Leaves the portfolio; it was 0.31% of weight.
− ACCIONES|AMERIPRISE FINANCIAL W/I (USD)
Leaves the portfolio; it was 0.30% of weight.
− WARNER MEDIA LLC
Leaves the portfolio; it was 0.26% of weight.
− ACCIONES|CIE DE ST GOBAIN
Leaves the portfolio; it was 0.26% of weight.
Compagnie de Saint-Gobain S.A., together with its subsidiaries, designs, manufactures, and distributes materials and solutions for the construction and industrial markets worldwide. It operates in five segments: High Performance Solutions; Northern Europe; Southern Europe Middle East (ME) Americas; and Asia-Pacific. The company offers plaster-based products and systems for the construction and renovation markets under the Placo, Rigips, and Gyproc brands; insulation solutions for a range of applications, such as heating and air conditioning systems, insulation of pipes in industrial installations, engine and interior compartments of vehicles, household appliances, and photovoltaic panels under the Isover, CertainTeed, and Izocam brands; and mortars and construction chemicals under the Weber, Chryso, and GCP brands. It also provides ceilings under the Ecophon, CertainTeed, Eurocoustic, Gyptone, and Vinh Tuong brands; glazing solutions for buildings and mobility, including flat glass under the Saint-Gobain Glass, GlassSolutions, Vetrotech, and SageGlass brands; ductile cast iron pipe systems, covers, and gratings under the PAM brand; glass fiber materials and technical textiles; and abrasives, adhesives, sealants, adhesive tapes, foams, and films. In addition, the company offers ceramics and polymers; and exterior products comprising asphalt and composite shingles, solar roofing solutions, roll roofing systems, accessories, polymer shakes and shingles, and insulation cladding solutions under the CertainTeed brands. Further, it distributes heavy building materials; plumbing, heating, ventilation, and sanitaryware products; construction products; office partitions; timber and byproducts; home improvement products and services; bathrooms and kitchens; steel; and site equipment, PPEs, and tools. Compagnie de Saint-Gobain S.A. was founded in 1665 and is headquartered in Courbevoie, France.
View company page →− ACCIONES|BROWN & BROWN INC
Leaves the portfolio; it was 0.21% of weight.
− ACCIONES|BROADRIDGE FINANCIAL SOLUTIONS
Leaves the portfolio; it was 0.21% of weight.
− ACCIONES|FERRARI NV
Leaves the portfolio; it was 0.21% of weight.
− ACCIONES|UNILEVER NV
Leaves the portfolio; it was 0.20% of weight.
− ACCIONES|LA FRANCAISE DES JEUX SAEM
Leaves the portfolio; it was 0.20% of weight.
− ACCIONES|Fiserv Inc
Leaves the portfolio; it was 0.17% of weight.
− ACCIONES|WOLTERS KLUWER CVA
Leaves the portfolio; it was 0.17% of weight.
Fixed income
Declared FI exposure
9.4 M €
% of portfolio
20.6%
Positions
23
Issuers
15
Sovereign: 4.6 M €
Corporate: 4.7 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.
Matured or ≤3 months · 3.2%3-6 months · 8.6%6-12 months · 2.8%1-2 years · 16.9%2-5 years · 34.7%5-10 years · 27.0%Unknown · 6.8%
Maturity
Positions
Exposure
%
Matured or ≤3 months
1
301,486 €
3.2%
3-6 months
2
807,652 €
8.6%
6-12 months
1
258,131 €
2.8%
1-2 years
4
1.6 M €
16.9%
2-5 years
8
3.2 M €
34.7%
5-10 years
6
2.5 M €
27.0%
> 10 years
0
0 €
0.0%
Unknown
1
638,260 €
6.8%
Top issuers
The 10 issuers with the largest declared exposure in this fund, repos excluded.
Issuer
Type
ISINs
Exposure
Next maturity
UNITED STATES TR
Sovereign
5
1.8 M €
2026-06-30
Repubblica Italiana
Sovereign
4
1.6 M €
2026-01-15
Reino de España
Sovereign
2
1.2 M €
2027-10-31
FORD MOTOR CREDI
Corporate
1
653,827 €
2028-11-07
HYUNDAI CAPITAL
Corporate
1
443,047 €
2031-06-26
ABERTIS INFRAEST
Corporate
1
412,815 €
2028-01-31
ACCOR SA
Corporate
1
410,206 €
2031-03-11
TIKEHAU CAPITAL SCA
Corporate
1
406,238 €
2031-04-08
LKQ EURO HOLDING
Corporate
1
402,496 €
2028-04-01
ORANO SA
Corporate
1
400,575 €
2026-04-23
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
US345397D591 FORD MOTOR CREDI
6.80%
2028-11-07
653,827 €
ES0L02607106 Reino de España
—
—
638,260 €
ES0000012A89 Reino de España
1.45%
2027-10-31
586,053 €
US91282CGC91 UNITED STATES TR
3.88%
2027-12-31
576,734 €
IT0005466013 Repubblica Italiana
0.95%
2032-06-01
541,014 €
XS2903447600 HYUNDAI CAPITAL
3.50%
2031-06-26
443,047 €
IT0004889033 Repubblica Italiana
4.75%
2028-09-01
432,305 €
XS2644410214 ABERTIS INFRAEST
4.12%
2028-01-31
412,815 €
FR001400OJO2 ACCOR SA
3.88%
2031-03-11
410,206 €
US9128287B09 UNITED STATES TR
1.88%
2026-06-30
407,077 €
Currencies
Fixed-income exposure by instrument currency.
Currency
Exposure
%
EUR
6.4 M €
68.2%
USD
3.0 M €
31.8%
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: 7
Exits at maturity: 3
Exits not explained by maturity: 3
+ FORD MOTOR CREDI
Enters the portfolio at 1.44% weight.
+ SPAIN LETRAS DEL TESORO
Enters the portfolio at 1.41% weight.
+ ITALY BUONI POLI
Enters the portfolio at 1.19% weight.
+ HYUNDAI CAPITAL
Enters the portfolio at 0.98% weight.
+ TIKEHAU CAPITAL
Enters the portfolio at 0.89% weight.
+ MCDONALD´S CORP
Enters the portfolio at 0.73% weight.
+ WARNER MEDIA LLC
Enters the portfolio at 0.26% weight.
− SPAIN LETRAS DEL TESORO
Leaves the portfolio; it was 1.36% of weight.
− ZF FINANCE GMBH
Leaves the portfolio; it was 0.47% of weight.
− WARNER MEDIA LLC
Leaves the portfolio; it was 0.26% of weight.
◦ ITALY BUONI POLI
Leaves the portfolio; it was 1.36% of weight.
◦ ITALY GOVERNMENT
Leaves the portfolio; it was 1.36% of weight.
◦ UNITED STATES TR
Leaves the portfolio; it was 0.59% 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.