| Sacyr, 0% 15jan2021, EUR (365D) (ES0582870D27) |
| Vocento, 0% 3apr2020, EUR (77D) (ES0514820275) |
| Endesa, 0% 30mar2020, EUR (61D) (ES0530670TK8) |
| Bankinter, 6.06% 21feb2025, EUR (Structured) (ES0213679JV1) |
| Banco Bilbao (BBVA), 0% 18jul2047, USD (400, 10957D) (XS1643618454) |
| Home Meal Replacement, 6% 26oct2018, EUR (XS1649259782) |
| BBVA Global Markets, FRN 31mar2026, CHF (Structured) (XS2073898970) |
| Banco de Sabadell, 0% 28may2020, EUR (58D) (ES0513862OO5) |
| BBVA Global Markets, FRN 18apr2023, USD (XS2157805628) |
| Bankinter, FRN 29may2025, EUR (Structured) (ES0213679KQ9) |
| Cellnex Telecom, 1.1175% 17jul2025, CHF (CH0555837753) |
| Santander International Products, 2.77% 2jul2035, USD (1044) (XS2198404209) |
| Sidenor, 0% 10nov2020, EUR (123D) (ES0505461089) |
| BBVA Global Markets, FRN 14aug2025, USD (Structured) (XS2161301036) |
| BBVA Global Markets, FRN 29aug2025, USD (Structured) (XS2161297176) |
| Audax Renovables, 2.25% 18apr2022, EUR (ES0336463007) |
| Banco de Sabadell, 0% 17nov2020, EUR (48D) (ES0513862PF0) |
| Endesa, 0% 4jan2021, EUR (95D) (ES0530670XD5) |
| Iberdrola, 1.874% perp., EUR (XS2244941063) |
| BBVA Global Markets, FRN 21oct2025, USD (Structured) (XS2174073978) |
| BBVA Global Markets, FRN 6nov2025, USD (Structured) (XS2174067228) |
| BBVA Global Markets, FRN 20nov2023, USD (Structured) (XS2190708375) |
| Bankinter, FRN 13dec2023, EUR (Structured) (ES0313679S64) |
| Banco Bilbao (BBVA), 5.7% 31mar2032, USD (148) (XS1587857498) |
| Elecnor Eficiencia Energetica 2020, 2% 30dec2027, EUR (ABS) (ES0305527006) |
| BBVA Global Markets, FRN 31dec2025, USD (Structured) (XS2204046929) |
| BBVA Global Markets, 0% 20jan2047, USD (10957D) (XS1548462636) |
| MasMovil Ibercom, 0% 29mar2021, EUR (59D) (ES0584696308) |
| Banco de Sabadell, 0% 23feb2021, EUR (14D) (ES0513862PV7) |
| Cobra Instalaciones y Servicios, 0% 26jul2021, EUR (166D) (ES0505390163) |
| Acciona, 1.8% 11mar2031, JPY (40) (XS2309352891) |
| BBVA Global Markets, FRN 26feb2026, USD (Structured) (XS2224094032) |
| BBVA Global Markets, 0% 3mar2026, USD (1818D, Structured) (XS2224093901) |
| IM Fortia 1, 0% 10jun2021, EUR (91D, ABS) (ES0505087561) |
| Telefonica SA, 0% 17sep2021, EUR (184D) (ES0578430OT2) |
| BBVA Global Markets, FRN 22mar2024, USD (Structured) (XS2246877968) |
| BBVA Global Markets, FRN 18mar2024, USD (Structured) (XS2246876648) |
| Nexus Energia, 0% 29jul2021, EUR (91D) (ES0505280471) |
| AI CANDELARIA, 5.75% 15jun2033, USD (USE0R75RAB28) |
| Bankinter, 0% 15apr2026, EUR (Structured) (ES0313679T22) |
| BBVA Global Markets, FRN 29may2024, USD (Structured) (XS2272068706) |
| Banco de Sabadell, 0% 1sep2021, EUR (104D) (ES0513862QW3) |
| Promociones y Construcciones (Pryconsa), 0% 27sep2021, EUR (126D) (ES0505451270) |
| Renta Corp Real Estate, 0% 15dec2021, EUR (183D) (ES0573365170) |
| Vidrala, 0% 11mar2022, EUR (273D) (ES0583746278) |
| Anselma Issuer, 2.174% 31dec2038, EUR (XS2334112641) |
| Teknia Manufacturing Group, 0% 21dec2021, EUR (183D) (ES0505105520) |
| BBVA Global Markets, FRN 6jul2026, USD (Structured) (XS2288672764) |
| Autonoria Spain 2021, FRN 31jan2039, EUR (ABS) (ES0305565030) |
| RMBS Santander 7, FRN 18feb2067, EUR (ABS) (ES0305583025) |
| EBN Banco de Negocios, 0% 31mar2022, EUR (182D) (ES0547352569) |
| Bankinter, 0% 1mar2022, EUR (152D) (ES05136898E6) |
| IM Vall Companys 1, 0% 20jan2022, EUR (105D) (ES0505496135) |
| Santander Consumer Spain Auto 2021-1, 4.58% 22jun2035, EUR (ABS) (ES0305599054) |
| Gransolar, 0% 11oct2022, EUR (362D) (ES0505497125) |
| Nueva Pescanova, 0% 18nov2021, EUR (31D) (ES0505560088) |
| BBVA Global Markets, FRN 5nov2026, USD (0009, Structured) (XS2302895730) |
| BBVA Global Markets, 0% 27apr2026, USD (1166, 2558D) (XS1967610988) |
| BBVA Global Markets, 0% 25nov2024, USD (1089D, Structured) (XS2311614064) |
| SWK Consumer 2021-1, 2.25% 28nov2044, EUR (ABS) (ES0305617013) |
| BBVA Global Markets, FRN 6dec2024, USD (Structured) (XS2317514672) |
| BBVA Global Markets, FRN 17dec2024, USD (Structured) (XS2317517345) |
| Telefonica SA, 0% 17jun2022, EUR (182D) (ES0578430OX4) |
| Network Steel Resources, 0% 25may2022, EUR (181D) (ES0505504011) |
| Grupo Tradebe Medioambiente, 0% 20jan2022, EUR (37D) (ES0505401408) |
| Santander Consumer Finance, 0.5% 14jan2027, EUR (102) (XS2432530637) |
| BBVA Global Markets, FRN 8dec2025, USD (Structured) (XS2311611631) |
| MaxamCorp Holding, 0% 13may2022, EUR (102D) (ES0505199606) |
| A-Best 20, 0.625% 23may2035, EUR (ABS) (ES0305607014) |
| Magdalena 5, FRN 30jun2050, EUR (ABS, Structured) (ES0305594006) |
| Construcciones y Auxiliar de Ferrocarriles (CAF), 0% 4apr2022, EUR (60D) (ES0521975120) |
| Fluidra, 0% 28feb2022, EUR (35D) (ES0537650204) |
| Global Dominion Access, 0% 25mar2022, EUR (56D) (ES0505130296) |
| Aquisgran, 0.65% 26jun2023, EUR (ABS) (ES0305566004) |
| Aquisgran, FRN 26jun2050, EUR (ABS) (ES0305566012) |
| Aldesa Agrupacion Empresarial, 0% 21nov2022, EUR (273D) (ES0505112377) |
| Elecnor, 0% 18may2022, EUR (89D) (ES05297431C5) |
| Grupopikolin, 0% 12apr2022, EUR (50D) (ES0505072837) |
| BBVA Global Markets, 6% 13mar2023, EUR (Structured) (XS2349080494) |
| Arteche Lantegi Elkartea, 0% 19sep2022, EUR (186D) (ES0505521221) |
| Metrovacesa, 0% 15jul2022, EUR (122D) (ES0505122194) |
| Fluidra, 0% 30may2022, EUR (61D) (ES0537650220) |
| Endesa, 0% 30may2022, EUR (32D) (ES0530674409) |
| GREENALIA, 0% 30jun2022, EUR (62D) (ES0505293052) |
| Auto ABS Spanish Loans 2022-1, FRN 28feb2032, EUR (ABS) (ES0305646038) |
| Auto ABS Spanish Loans 2022-1, 6.75% 28feb2032, EUR (ABS) (ES0305646053) |
| Jorge Pork Meat, 0% 23jun2022, EUR (29D) (ES0505324329) |
| Jorge Pork Meat, 0% 23sep2022, EUR (121D) (ES0505324311) |
| Endesa, 0% 12aug2022, EUR (60D) (ES0530674599) |
| Arquimea Group, 0% 14sep2022, EUR (92D) (ES0505629008) |
| Via Celere Desarrollos Inmobiliarios, 0% 18nov2022, EUR (161D) (ES0505514176) |
| Cunext Group, 0% 21oct2022, EUR (122D) (ES0505615072) |
| Hoteles Turisticos Unidos, 0% 20jun2024, EUR (729D) (ES0505377558) |
| EBN Banco de Negocios, 0% 5aug2022, EUR (29D) (ES0547352676) |
| General de Alquiler de Maquinaria, 0% 16jan2023, EUR (196D) (ES0541571081) |
| Santander International Products, 5.01% 20sep2027, EUR (Structured) (XS2922140061) |
| Iberdrola Finanzas, S.A., 4.247% perp., EUR (146) (XS2949317676) |
| Clerhp Estructuras, 8% 2dec2027, EUR (ES0305121016) |
| Banco Santander, 5.565% 17jan2030, USD (SNP-241) (US05964HBJ32) |
| BBVA Global Markets, 13.63% 10jul2027, USD (Structured) (XS2378592948) |