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
57
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.
57
Company
Type
Country
Weight
Price
This period's moves
H2 2025 vs H1 2025 (estimated)
New: 12
Exits: 6
Increases: 11
Cuts: 11
− BANCO INVERSIS, S.A.
Leaves the portfolio; it was 6.40% of weight.
− BANCO INVERSIS, S.A.
Leaves the portfolio; it was 6.40% of weight.
− BANCO INVERSIS, S.A.
Leaves the portfolio; it was 6.40% of weight.
− ACCIONES|CATALANA OCC.
Leaves the portfolio; it was 0.63% of weight.
− BANCO INVERSIS, S.A.
Leaves the portfolio; it was 0.43% of weight.
− BANCO INVERSIS, S.A.
Leaves the portfolio; it was 0.43% of weight.
▲ ACCIONES|SR Teleperformance
Goes from 0.46% to 1.18%.
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|Arcelor Mittal Steel
Goes from 1.12% to 1.44%.
ArcelorMittal S.A., together with its subsidiaries, operates as integrated steel and mining companies in the Americas, Europe, Asia, and Africa. It offers semi-finished flat products, including slabs; finished flat products comprising plates, hot- and cold-rolled coils and sheets, hot-dipped and electro-galvanized coils and sheets, tinplate, and color coated coils and sheets; semi-finished long products, such as blooms and billets; finished long products consisting of bars, wire-rods, structural sections, rails, sheet piles, and wire-products; and seamless and welded pipes and tubes. The company also provides mining products, such as iron ore lumps, fines, concentrate, pellets, and sinter feeds; and coking coal. It sells its products to various customers in the automotive, appliance, engineering, construction, energy, and machinery industries through a centralized marketing organization, and distributors. The company operates iron ore mining activities in Brazil, Bosnia, Liberia, Mexico, South Africa, and Ukraine, as well as in India and in Canada. ArcelorMittal S.A. was founded in 1976 and is headquartered in Luxembourg, Luxembourg.
View company page →▲ ACCIONES|Faurecia
Goes from 0.69% to 0.96%.
Forvia SE, together with its subsidiaries, manufactures and sells automotive technology solutions in France, Germany, other European countries, other Europe, the Middle East, Africa, the Americas, Asia, and internationally. It operates through Seating, Interiors, Clean Mobility, Electronics, Lighting, and Lifecycle Solutions segments. The Seating segment designs and manufactures vehicle seats, seating frames, and adjustment mechanisms. The Interiors segment designs, manufactures, and assembles instrument panels, door panels, and modules. The Clean Mobility segment designs and manufactures exhaust systems, solutions for fuel cell electric vehicles, and aftertreatment solutions for commercial vehicles. The Electronics segment designs and manufactures display technologies, driver assistance systems, and cockpit electronics, including HELLA electronics and Clarion electronics. The Lighting segment designs and manufactures lighting technologies. The Lifecycle Solutions segment provides solutions extending the vehicle lifecycle, as well as workshop equipment and special original equipment. The company was formerly known as Faurecia S.E. and changed its name to Forvia SE in June 2023. Forvia SE was founded in 1914 and is headquartered in Nanterre, France.
View company page →▲ ACCIONES|Schlumberger
Goes from 0.48% to 0.71%.
SLB N.V. engages in the provision of technology for the energy industry worldwide. The company operates through four divisions: Digital & Integration, Reservoir Performance, Well Construction, and Production Systems. The company provides field development and hydrocarbon production, carbon management, and integration of adjacent energy systems; reservoir interpretation and data processing services for exploration data; and well construction and production improvement services and products. It also offers subsurface geology and fluids evaluation information; stimulation services to restore or enhance well productivity through hydraulic fracturing, matrix stimulation, and water treatment; and intervention services to oil and gas operators. In addition, the company offers mud logging, directional drilling, measurement-while-drilling, and logging-while-drilling services, as well as engineering support services; supplies drilling fluid systems; designs, manufactures, and markets roller cone and fixed cutter drill bits; bottom-hole-assembly and borehole enlargement technologies; well planning, well drilling, engineering, supervision, logistics, procurement, and contracting of third parties, as well as drilling rig management solutions; and drilling equipment and services, as well as land drilling rigs and related services. Further, it provides artificial lift; supplies packers, safety valves, sand control technology, and various intelligent systems; midstream production systems; valves, chokes, actuators, and surface trees; and OneSubsea, an integrated solutions, products, systems, and services, including wellheads, subsea trees, manifolds and flowline connectors, control systems, connectors, and services. SLB N.V. was formerly known as Schlumberger Limited and change its name to SLB N.V. in October 2025. The company was founded in 1926 and is based in Houston, Texas.
View company page →▼ ACCIONES|Renault
Goes from 1.25% to 1.00%.
Renault SA engages in the design, manufacture, sale, repair, maintenance, and leasing of motor vehicles in Europe, Eurasia, Africa, the Middle East, the Asia Pacific, and the Americas. The company operates through Automotive, Sales Financing, and Mobility Services segments. The Automotive segment produces, sells, and distributes passenger cars and light commercial vehicles. The Sale Financing segment is involved in the sales financing, rental, maintenance, and service contracts under the Mobilize Financial Services trade name. The Mobility Services segment provides mobility and energy solutions for electric vehicle users under the Mobilize Beyond Automotive brand. It offers used vehicles and spare parts; and engages in the business-to-business powertrain activities, and research and advanced engineering activities. The company also engages in the design and production of parts and equipment used for manufacturing and operation of vehicles. It serves commercial, light commercial and passenger vehicles, tractors, farm machinery and construction equipment under the Renault, Dacia, and Alpine brands. The company was founded in 1898 and is based in Boulogne-Billancourt, France.
View company page →Fixed income
Declared FI exposure
2.1 M €
% of portfolio
58.5%
Positions
20
Issuers
8
Sovereign: 226,968 €
Corporate: 645,734 €
Repos / treasury management: 1.2 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 · 25.6%3-6 months · 11.3%2-5 years · 63.1%
Maturity
Positions
Exposure
%
Matured or ≤3 months
2
223,757 €
25.6%
3-6 months
1
98,609 €
11.3%
6-12 months
0
0 €
0.0%
1-2 years
0
0 €
0.0%
2-5 years
5
550,336 €
63.1%
5-10 years
0
0 €
0.0%
> 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
BERKSHIRE HATHAWAY I
Corporate
1
148,338 €
2028-03-15
TREASURY BILL
Sovereign
1
127,607 €
2026-01-08
GOLDMAN SACHS GROUP
Corporate
1
103,444 €
2029-01-23
INTL CONSOLIDATED AI
Corporate
1
100,014 €
2030-09-11
COMMUNITY OF MADRID
Sovereign
1
99,361 €
2030-07-30
PHILIP MORRIS INTL I
Corporate
1
99,179 €
2029-06-06
Gestamp Auto
Corporate
1
98,609 €
2026-05-12
NATURGY FINANCE SA
Corporate
1
96,150 €
2026-01-15
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
XS1380334224 BERKSHIRE HATHAWAY I
2.15%
2028-03-15
148,338 €
US912797RH21 TREASURY BILL
—
2026-01-08
127,607 €
XS2983840435 GOLDMAN SACHS GROUP
2.84%
2029-01-23
103,444 €
XS3170907060 INTL CONSOLIDATED AI
3.35%
2030-09-11
100,014 €
ES00001010R3 COMMUNITY OF MADRID
2.49%
2030-07-30
99,361 €
XS3087812593 PHILIP MORRIS INTL I
2.75%
2029-06-06
99,179 €
ES0505223463 Gestamp Auto
2.78%
2026-05-12
98,609 €
XS2156506854 NATURGY FINANCE SA
1.25%
2026-01-15
96,150 €
Currencies
Fixed-income exposure by instrument currency.
Currency
Exposure
%
EUR
1.9 M €
93.8%
USD
127,607 €
6.2%
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: 4
Exits at maturity: 0
Exits not explained by maturity: 0
+ BERKSHIRE HATHAWAY I
Enters the portfolio at 4.19% weight.
+ TREASURY BILL
Enters the portfolio at 3.60% weight.
+ INTL CONSOLIDATED AI
Enters the portfolio at 2.82% weight.
+ Gestamp Auto
Enters the portfolio at 2.78% 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.