Manager
TRESSIS GESTION, S.G.I.I.C., S.A.
See the CNMV manager universe →
Fund page
TRESSIS CAUDAL, FI
Category
—
Latest period
H2 2025
Positions
40
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.
40
Company
Type
Country
Weight
Price
This period's moves
H2 2025 vs H1 2025 (estimated)
New: 12
Exits: 10
Increases: 6
Cuts: 7
+ ACCIONES|Prosus NV
Enters the portfolio at 0.94% 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 →+ ACCIONES|Berkshire Hathaway
Enters the portfolio at 0.90% weight.
Berkshire Hathaway Inc., together with its subsidiaries, engages in the insurance, freight rail transportation, and utility businesses. The company provides property, casualty, life, accident, and health insurance and reinsurance; operates railroad systems in North America; generates, transmits, stores, and distributes electricity from natural gas, coal, wind, solar, hydroelectric, nuclear, and geothermal sources; operates natural gas distribution and storage facilities, interstate pipelines, liquefied natural gas facilities, and compressor and meter stations; and holds interest in coal mining assets. It manufactures boxed chocolates and other confectionery products; specialty chemicals, metal cutting tools, and components for aerospace and power generation applications; prefabricated and site-built residential homes, flooring products; insulation, roofing, and engineered products; building and engineered components; paints and coatings; and bricks and masonry products, as well as offers manufactured and site-built home construction, and related lending and financial services. In addition, the company provides recreational vehicles, apparel, footwear, toys, jewelry, custom picture framing products, alkaline batteries, logistics services, and professional aviation training and shared aircraft ownership programs; castings, forgings, fasteners/fastener systems, aerostructures, and precision components; and cobalt, nickel, and titanium alloys. Further, it distributes televisions and information, and grocery and non-food consumer products; franchises and services quick service restaurants; and distributes electronic components. Additionally, it retails automobiles; furniture, bedding, and accessories; household appliances, electronics, and floor coverings; watches, home decor and repair services; sells kitchenware; and motorcycle clothing and equipment. The company was incorporated in 1998 and is headquartered in Omaha, Nebraska.
View company page →− EURONET WORLDWIDE IN
Leaves the portfolio; it was 1.94% of weight.
− ACCIONES|Airbus
Leaves the portfolio; it was 1.05% of 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|HCA Inc
Leaves the portfolio; it was 0.98% of weight.
− ACCIONES|Deutsche Boerse
Leaves the portfolio; it was 0.97% of weight.
Deutsche Börse AG operates as an international exchange organization in Germany, rest of Europe, the United States, and the Asia-Pacific. The company operates through four segments: Investment Management Solutions, Trading & Clearing, Fund Services, and Securities Services. The Investment Management Solutions segment offers financial data, analytics, and software-as-a-service solutions including research, data collection, data analysis, and the provision of indices, analytics and investment management software to institutional investors, banks, and corporate clients. The Trading & Clearing segment engages in the development and operation of markets and trading systems for securities, derivatives, commodities, currencies, digital assets, and other asset classes. This segment handles settlement of transactions through clearing houses. Its Fund Services segment provides infrastructure and services for fund processing, including order routing, settlement, custody, data and distribution support for investment funds. The Securities Services segment offers various services for securities issuance, settlement, custody as well as collateral, securities lending, and liquidity management. The company was founded in 1585 and is headquartered in Eschborn, Germany.
View company page →− HOCHTIEF AKTIENGESEL
Leaves the portfolio; it was 0.92% of weight.
− ACCIONES|Ferrari Nv
Leaves the portfolio; it was 0.91% of weight.
− KONINKLIJKE KPN NV
Leaves the portfolio; it was 0.90% of weight.
− ACCIONES|Novo-Nordisk
Leaves the portfolio; it was 0.88% of weight.
− ACCIONES|O´Reilly Automotive,
Leaves the portfolio; it was 0.83% of weight.
− BANCO INVERSIS, S.A.
Leaves the portfolio; it was 0.77% of weight.
▼ ACCIONES|Rolls-Royce Group pl
Goes from 1.09% to 0.81%.
Rolls-Royce Holdings plc designs and manages mission-critical power systems in the United Kingdom and internationally. The company operates through three segments: Civil Aerospace, Defence, and Power Systems. The Civil Aerospace segment develops, manufactures, markets, and sells aero engines for large commercial aircraft, regional jet, and business aviation markets, as well as provides aftermarket services. The Defence segment is involved in the development, manufacture, marketing, and sale of military aero engines, naval engines, and submarine nuclear power plants, as well as offers aftermarket services. The Power Systems segment engages in the development, manufacture, marketing, and sale of integrated solutions for onsite power and propulsion under the mtu brand name. Rolls-Royce Holdings plc was founded in 1884 and is headquartered in London, the United Kingdom.
View company page →Fixed income
Declared FI exposure
8.9 M €
% of portfolio
14.4%
Positions
13
Issuers
13
Sovereign: 314,648 €
Corporate: 8.6 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.
2-5 years · 75.0%5-10 years · 25.0%
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
9
6.7 M €
75.0%
5-10 years
4
2.2 M €
25.0%
> 10 years
0
0 €
0.0%
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
DEUTSCHE LUFTHANSA A
Corporate
1
919,157 €
2028-02-11
EDENRED SA
Corporate
1
898,707 €
2030-08-27
Ferrari NV
Corporate
1
815,466 €
2030-05-21
FAIRFAX FINL HLDGS L
Corporate
1
784,052 €
2028-03-29
Volvo Car AB
Corporate
1
781,702 €
2030-05-08
TELEFONAKTIEBOLAGET
Corporate
1
748,434 €
2028-05-29
BOOKING HOLDINGS INC
Corporate
1
747,162 €
2031-05-09
MTU AERO ENGINES AG
Corporate
1
621,976 €
2031-09-18
CANAL PLUS SA
Corporate
1
604,840 €
2030-12-03
ACS ACTIVIDADES CONS
Corporate
1
599,067 €
2030-06-11
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
XS2296203123 DEUTSCHE LUFTHANSA A
3.75%
2028-02-11
919,157 €
FR001400UHA2 EDENRED SA
3.25%
2030-08-27
898,707 €
XS2824763044 Ferrari NV
3.63%
2030-05-21
815,466 €
XS1794675931 FAIRFAX FINL HLDGS L
2.75%
2028-03-29
784,052 €
XS2811097075 Volvo Car AB
4.75%
2030-05-08
781,702 €
XS2725836410 TELEFONAKTIEBOLAGET
5.38%
2028-05-29
748,434 €
XS3070032100 BOOKING HOLDINGS INC
3.13%
2031-05-09
747,162 €
XS2887896574 MTU AERO ENGINES AG
3.88%
2031-09-18
621,976 €
FR0014014LG9 CANAL PLUS SA
4.63%
2030-12-03
604,840 €
XS3029358317 ACS ACTIVIDADES CONS
3.75%
2030-06-11
599,067 €
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: 5
Exits at maturity: 0
Exits not explained by maturity: 3
+ EDENRED SE
Enters the portfolio at 1.45% weight.
+ Ferrari NV
Enters the portfolio at 1.32% weight.
+ CANAL PLUS SA
Enters the portfolio at 0.98% weight.
+ ACS ACTIVIDADES CONS
Enters the portfolio at 0.97% weight.
+ PROSUS NV
Enters the portfolio at 0.87% weight.
− EURONET WORLDWIDE IN
Leaves the portfolio; it was 1.94% of weight.
− HOCHTIEF AKTIENGESEL
Leaves the portfolio; it was 0.92% of weight.
− KONINKLIJKE KPN NV
Leaves the portfolio; it was 0.90% 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.