Portfolio concentration
As of February 28, 2026 · N-PORT
Holdings
23
Top-10 weight
75.32%
Effective holdings
?
The number of equal-weight positions that would produce this portfolio's concentration (1 ÷ Herfindahl index). A 500-stock fund dominated by a few mega-caps might have only ~100 effective holdings.
11
Crowding
?
The value-weighted average number of funds that also own this fund's positions. High = consensus/crowded picks; low = holdings few other funds own.
407.9
Holdings
As of February 28, 2026 · N-PORT| # | Security | Ticker | Shares | Value | % of fund |
|---|---|---|---|---|---|
| 1 | BANCO SANTANDER SA | — | 27,822,852 | $350.90M | 18.49% |
| 2 | IBERDROLA SA | — | 11,438,752 | $269.99M | 14.22% |
| 3 | BBVA | — | 10,136,528 | $234.78M | 12.37% |
| 4 | FERROVIAL SE | — | 1,187,749 | $88.52M | 4.66% |
| 5 | INDITEX SA | — | 1,323,059 | $88.35M | 4.65% |
| 6 | ACS | — | 669,387 | $86.37M | 4.55% |
| 7 | REPSOL SA | — | 3,800,487 | $86.01M | 4.53% |
| 8 | CAIXABANK SA | — | 6,868,754 | $84.66M | 4.46% |
| 9 | AENA SME SA | — | 2,245,552 | $70.78M | 3.73% |
| 10 | BANCO SABADELL | — | 17,459,020 | $65.73M | 3.46% |
| 11 | CELLNEX TELECOM | — | 1,580,229 | $60.06M | 3.16% |
| 12 | Amadeus IT Holding, S.A. | AMS | 970,970 | $60.06M | 3.16% |
| 13 | TELEFONICA SA COMMON STOCK EUR1.0 | TEFOF | 11,778,758 | $53.45M | 2.82% |
| 14 | ENDESA | — | 1,297,500 | $52.93M | 2.79% |
| 15 | ACCIONA SA | — | 161,747 | $46.94M | 2.47% |
| 16 | BANKINTER | — | 2,521,821 | $41.85M | 2.20% |
| 17 | NATURGY ENERGY | — | 1,085,988 | $33.80M | 1.78% |
| 18 | INTL CONS AIRLIN | — | 5,708,109 | $32.28M | 1.70% |
| 19 | REDEIA CORP SA COMMON STOCK | RED | 1,595,965 | $29.66M | 1.56% |
| 20 | GRIFOLS SA | — | 2,356,427 | $29.56M | 1.56% |
| 21 | MAPFRE SA | — | 4,947,070 | $22.99M | 1.21% |
| 22 | REDEIA CORP SA COMMON STOCK | RED | 107,138 | $1.99M | 0.10% |
| 23 | REDEIA CORP SA COMMON STOCK | RED | 58,632 | $1.09M | 0.06% |
| 24 | BlackRock Cash Funds: Treasury, SL Agency Shares | — | 600,000 | $600.00K | 0.03% |
| 25 | IBEX MINI IDX DEC 25 | — | 24 | $39.20K | 0.00% |
Machine-readable: JSON · Markdown. Programmatic access via the agent surface.