Banco Santander, S.A.
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 1, 2025), Banco Santander, S.A. reported 479 stock positions worth $10.5 billion. Its top holding was Banco Santander Brasil-ADS (BSBR) at 26.9% of the portfolio, followed by Nvidia (NVDA, 3.8%) and Microsoft (MSFT, 3.8%). Compared with Q1 2025, it opened 55 new positions, sold out of 53, added to 201 and reduced 143. The biggest buy was Microsoft (MSFT, shares +8%) and the biggest sale Ferrovial (FER, shares −36%).
- Most Recent 13F
- Q2 2026
- Location
- Madrid, U3
- CIK
- 0000891478
- Portfolio Value
- $10.5B (Q2 2025)
- SEC Filing
- 0000891478-25-000117 ↗ filed Aug 1, 2025
Holdings Value
Holdings 479 stocks · $10.5B
| BSBR Banco Santander Brasil-ADS | 26.94% | 520,218,168 | $2.8B | No change |
| NVDA Nvidia Corp. | 3.82% | 2,545,583 | $402.2M | Reduce -4.5% |
| MSFT Microsoft Corp. | 3.75% | 793,926 | $394.9M | Add +7.8% |
| NRG NRG Energy Inc. | 3.37% | 2,206,000 | $354.2M | Reduce -22.2% |
| RACE Ferrari NV | 2.71% | 581,379 | $285.3M | Add +3.6% |
| AMZN Amazon.com Inc. | 2.43% | 1,164,777 | $255.5M | Add +8.7% |
| AAPL Apple Inc. | 2.25% | 1,156,246 | $237.2M | Add +7.5% |
| FER Ferrovial NV | 2.16% | 4,241,709 | $227.2M | Reduce -36.5% |
| META Meta Platforms Inc. Class A | 1.94% | 277,001 | $204.5M | Add +6.3% |
| SPY SS SPDR S&P 500 ETF Trust-US | 1.53% | 260,696 | $161.1M | Add +1.1% |
| GOOGL Alphabet Inc. Class A | 1.43% | 856,141 | $150.9M | Add +14.0% |
| AVGO Broadcom Inc. | 1.29% | 491,578 | $135.5M | Add +20.9% |
| JPM JPMorgan Chase & Co. | 1.14% | 415,062 | $120.3M | Add +13.8% |
| STLA Stellantis NV | 1.02% | 10,739,102 | $107.7M | Add +10.5% |
| COTY Coty Inc. Class A | 1.02% | 23,112,758 | $107.5M | No change |
| VOO Vanguard S&P 500 ETF | 0.97% | 179,608 | $102.0M | Reduce -23.1% |
| QQQM Invesco Nasdaq 100 ETF | 0.96% | 443,620 | $100.7M | Reduce -4.2% |
| NFLX Netflix Inc. | 0.90% | 70,607 | $94.6M | Add +18.9% |
| V Visa Inc. Class A | 0.83% | 247,157 | $87.8M | Add +6.2% |
| TSLA Tesla Inc. | 0.83% | 274,658 | $87.2M | Reduce -6.8% |
| GOOG Alphabet Inc. Class C | 0.83% | 489,790 | $86.9M | Reduce -5.4% |
| GLD SPDR Gold Shares | 0.77% | 266,893 | $81.4M | Add +30.3% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.67% | 1,500,804 | $71.0M | Add +3.9% |
| LLY Eli Lilly & Co. | 0.64% | 86,613 | $67.5M | Add +23.4% |
| ORCL Oracle Corp. | 0.62% | 297,283 | $65.0M | Add +17.3% |
| WMT Walmart Inc. | 0.61% | 655,769 | $64.1M | Reduce -3.1% |
| RSP Invesco S&P 500 Equal Weight | 0.60% | 345,279 | $62.8M | Add +59.4% |
| XOM Exxon Mobil Corp. | 0.59% | 577,767 | $62.3M | Add +37.5% |
| CRM Salesforce Inc. | 0.57% | 219,830 | $59.9M | Add +36.3% |
| IVV iShares Core S&P 500 ETF | 0.54% | 91,390 | $56.7M | Add +44.3% |
| MA Mastercard Inc. Class A | 0.54% | 100,589 | $56.5M | Reduce -11.1% |
| MS Morgan Stanley | 0.53% | 395,457 | $55.7M | Add +9.3% |
| HD Home Depot Inc. | 0.50% | 143,060 | $52.5M | Add +10.0% |
| EEM iShares MSCI Emerging Market | 0.49% | 1,073,741 | $51.8M | Add +171.6% |
| ACWI iShares MSCI Acwi ETF | 0.47% | 385,710 | $49.6M | Add +62.7% |
| NOW ServiceNow Inc. | 0.46% | 47,312 | $48.6M | Reduce -3.6% |
| C Citigroup Inc. | 0.44% | 539,977 | $46.0M | Reduce -6.3% |
| PFE Pfizer Inc. | 0.44% | 1,890,281 | $45.8M | Add +71.8% |
| ICE Intercontinental Exchange Inc. | 0.41% | 232,543 | $42.7M | Reduce -2.3% |
| UBER Uber Technologies Inc. | 0.40% | 453,097 | $42.3M | Add +31.1% |
| IEF iShares 7-10 Year Treasury B | 0.38% | 416,353 | $39.9M | Add +52.9% |
| KO The Coca-Cola Co. | 0.38% | 559,678 | $39.6M | Add +14.8% |
| QCOM Qualcomm Inc. | 0.37% | 242,691 | $38.7M | Reduce -8.5% |
| TMO Thermo Fisher Scientific Inc. | 0.36% | 93,852 | $38.1M | Add +7.5% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.35% | 75,747 | $36.8M | Add +40.2% |
| ISRG Intuitive Surgical Inc. | 0.35% | 67,396 | $36.6M | Add +18.1% |
| VGK Vanguard Ftse Europe ETF | 0.35% | 469,648 | $36.4M | Add +500.1% |
| URTH iShares MSCI World ETF | 0.33% | 206,346 | $35.0M | Reduce -14.4% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.33% | 281,063 | $34.9M | Add +101.8% |
| SHV iShares 0-1 Year Treasury Bo | 0.32% | 309,079 | $34.1M | Add +173.9% |
| GS Goldman Sachs Group Inc. | 0.32% | 47,410 | $33.6M | Add +6.1% |
| COIN Coinbase Global Inc. Class A | 0.31% | 94,186 | $33.0M | Reduce -44.7% |
| CAT Caterpillar Inc. | 0.31% | 83,356 | $32.4M | Add +3.5% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.30% | 107,184 | $31.6M | Add +0.1% |
| VRTX Vertex Pharmaceuticals Inc. | 0.30% | 70,188 | $31.2M | Add +9.6% |
| ADSK Autodesk Inc. | 0.29% | 99,775 | $30.9M | Add +11.8% |
| PG The Procter & Gamble Co. | 0.28% | 186,070 | $29.6M | Add +6.0% |
| MRK Merck & Co. Inc. | 0.28% | 371,531 | $29.4M | Add +17.2% |
| SPAB SS SPDR P Agg Bond ETF | 0.27% | 1,124,585 | $28.8M | Add +31.0% |
| EWJ iShares MSCI Japan ETF | 0.27% | 377,530 | $28.3M | Add +54.9% |
| ABBV Abbvie Inc. | 0.27% | 152,257 | $28.3M | Add +77.0% |
| CME Cme Group Inc. | 0.26% | 100,971 | $27.8M | Reduce -18.0% |
| ADBE Adobe Inc. | 0.26% | 70,330 | $27.2M | Reduce -0.1% |
| CSCO Cisco Systems Inc. | 0.26% | 388,243 | $26.9M | Add +7.1% |
| GE General Electric filed as GE AEROSPACE | 0.25% | 104,017 | $26.8M | Add +624.8% |
| WM Waste Management Inc. | 0.25% | 116,289 | $26.6M | Add +0.3% |
| UNH Unitedhealth Group Inc. | 0.25% | 84,937 | $26.5M | Add +63.5% |
| IEI iShares 3-7 Year Treasury Bo | 0.24% | 214,952 | $25.6M | Reduce -4.0% |
| ITRI Itron Inc. | 0.24% | 194,000 | $25.5M | Reduce -4.4% |
| PM Philip Morris International | 0.24% | 140,063 | $25.5M | Reduce -5.5% |
| PH Parker Hannifin Corp. | 0.24% | 35,625 | $24.9M | Reduce -0.1% |
| QQQ Invesco QQQ Trust Series 1 | 0.23% | 44,502 | $24.5M | Reduce -40.8% |
| CMCSA Comcast Corp. Class A | 0.23% | 685,618 | $24.5M | Reduce -2.1% |
| WAB Wabtec Corp. | 0.23% | 116,264 | $24.3M | Add +5.0% |
| MSI Motorola Solutions Inc. | 0.23% | 57,805 | $24.3M | Add +3.1% |
| CTAS Cintas Corp. | 0.22% | 106,201 | $23.7M | Add +0.8% |
| BKNG Booking Holdings Inc. | 0.22% | 4,088 | $23.7M | Reduce -34.3% |
| TLT iShares 20+ Year Treasury BD | 0.22% | 266,426 | $23.5M | Add +288.8% |
| ETR Entergy Corp. | 0.22% | 282,155 | $23.5M | New |
| PGR Progressive Corp. | 0.22% | 87,652 | $23.4M | Add +1.2% |
| AMD Advanced Micro Devices | 0.22% | 162,251 | $23.0M | Reduce -7.9% |
| VCIT Vanguard Int-Term Corporate | 0.22% | 275,036 | $22.8M | Reduce -48.0% |
| SPG Simon Property Group Inc. | 0.22% | 141,050 | $22.7M | Reduce -4.5% |
| COST Costco Wholesale Corp. | 0.21% | 22,248 | $22.0M | Add +78.3% |
| SPSM SS SPDR P S&P 600 Small Cap | 0.20% | 503,220 | $21.4M | Add +77.2% |
| CL Colgate-Palmolive Co. | 0.20% | 233,021 | $21.2M | Reduce -16.0% |
| MRVL Marvell Technology Inc. | 0.20% | 270,596 | $20.9M | Add +4212.3% |
| PLTR Palantir Technologies Inc. Class A | 0.20% | 151,250 | $20.6M | Add +165.6% |
| LRCX Lam Research Corp. | 0.19% | 210,443 | $20.5M | Reduce -7.3% |
| DNUT Krispy Kreme Inc. | 0.19% | 6,916,972 | $20.1M | No change |
| BA The Boeing Co. | 0.19% | 95,798 | $20.1M | Reduce -3.3% |
| VWO Vanguard Ftse Emerging Marke | 0.19% | 399,412 | $19.8M | Add +29.8% |
| TMUS T-Mobile US Inc. | 0.19% | 82,752 | $19.7M | Reduce -28.0% |
| ADI Analog Devices Inc. | 0.18% | 79,801 | $19.0M | Add +14.8% |
| APH Amphenol Corp. Class A | 0.18% | 192,272 | $19.0M | Add +0.1% |
| IQV Iqvia Holdings Inc. | 0.18% | 119,291 | $18.8M | Reduce 0.0% |
| WELL Welltower Inc. | 0.18% | 122,133 | $18.8M | Add +1241.4% |
| EIX Edison International | 0.17% | 353,305 | $18.2M | Add +66.1% |
| AMAT Applied Materials Inc. | 0.17% | 96,077 | $17.6M | Add +9.6% |
| KR Kroger Co. | 0.17% | 245,084 | $17.6M | Add +83.6% |
Other holdings (2): bonds, preferreds, convertibles and warrants · $6.8M (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| SHIFT4 PAYMENTS INC (FOUR 6 05/01/28) | 6 SER A CNV PREF | 38,700 | $4.5M | New |
| NEXTERA ENERGY INC (NEE 7.299 06/01/27) | UNIT 06/01/2027 | 50,000 | $2.4M | New |
Total filed on the 13F, all lines: $10.5B.
Portfolio Sells Q1 2025 → Q2 2025
| FER Ferrovial NV | Reduce -36.5% | 2.16% | −1.15 |
| EPC Edgewell Personal Care Co. | Reduce -63.9% | 0.11% | −0.38 |
| VOO Vanguard S&P 500 ETF | Reduce -23.1% | 0.97% | −0.35 |
| VCIT Vanguard Int-Term Corporate | Reduce -48.0% | 0.22% | −0.26 |
| AGRO Adecoagro SA | Sold out | 0.00% | −0.23 |
| HCA HCA Healthcare Inc. | Reduce -98.9% | 0.00% | −0.23 |
| SHW The Sherwin-Williams Co. | Reduce -98.7% | 0.00% | −0.20 |
| DB Deutsche Bank AG-Registered | Reduce -87.8% | 0.02% | −0.17 |
| FTNT Fortinet Inc. | Reduce -76.0% | 0.05% | −0.17 |
| SYK Stryker Corp. | Reduce -89.6% | 0.02% | −0.16 |
| QQQ Invesco QQQ Trust Series 1 | Reduce -40.8% | 0.23% | −0.16 |
| TMUS T-Mobile US Inc. | Reduce -28.0% | 0.19% | −0.15 |
| MA Mastercard Inc. Class A | Reduce -11.1% | 0.54% | −0.15 |
| USIG iShares Broad Usd Investment | Reduce -87.3% | 0.02% | −0.15 |
| SNOW Snowflake Inc. | Reduce -70.5% | 0.09% | −0.15 |
| ELV Elevance Health Inc. | Reduce -77.3% | 0.03% | −0.14 |
| IJR iShares Core S&P Small-Cap E | Sold out | 0.00% | −0.12 |
| DVN Devon Energy Corp. | Sold out | 0.00% | −0.12 |
| SHOP Shopify Inc. Class A | Reduce -94.2% | 0.01% | −0.11 |
| SPEM State Street SP PTF Em ETF | Reduce -90.2% | 0.01% | −0.10 |
| CVX Chevron Corp. | Reduce -21.8% | 0.14% | −0.10 |
| DASH DoorDash Inc. Class A | Reduce -92.7% | 0.01% | −0.10 |
| CME Cme Group Inc. | Reduce -18.0% | 0.26% | −0.10 |
| BKNG Booking Holdings Inc. | Reduce -34.3% | 0.22% | −0.09 |
| NUE Nucor Corp. | Reduce -74.0% | 0.03% | −0.09 |
| CL Colgate-Palmolive Co. | Reduce -16.0% | 0.20% | −0.09 |
| BIIB Biogen Inc. | Sold out | 0.00% | −0.08 |
| QCOM Qualcomm Inc. | Reduce -8.5% | 0.37% | −0.08 |
| PNW Pinnacle West Capital | Sold out | 0.00% | −0.08 |
| PCAR Paccar Inc. | Reduce -95.8% | 0.00% | −0.08 |
| HYG Ishr Ibx Usd Hiyld CB ETF-Ui | Reduce -77.9% | 0.02% | −0.08 |
| URTH iShares MSCI World ETF | Reduce -14.4% | 0.33% | −0.08 |
| IRM Iron Mountain Inc. | Sold out | 0.00% | −0.07 |
| RGA Reinsurance Group of America | Sold out | 0.00% | −0.07 |
| EXC Exelon Corp. | Sold out | 0.00% | −0.07 |
| CB Chubb Ltd. | Sold out | 0.00% | −0.07 |
| RSPT Invesco S&P 500 Equal Weight | Sold out | 0.00% | −0.07 |
| GOOG Alphabet Inc. Class C | Reduce -5.4% | 0.83% | −0.07 |
| SPSB SS SPDR P St C Corp. ETF | Sold out | 0.00% | −0.07 |
| BIL SS SPDR BB 1-3M T-Bill ETF | Reduce -66.7% | 0.03% | −0.06 |
| GILD Gilead Sciences Inc. | Reduce -16.7% | 0.14% | −0.06 |
| LILAK Liberty Latin Americ Class C | Reduce -88.2% | 0.01% | −0.06 |
| CNC Centene Corp. | Reduce -34.0% | 0.06% | −0.06 |
| SPG Simon Property Group Inc. | Reduce -4.5% | 0.22% | −0.06 |
| IQV Iqvia Holdings Inc. | Reduce 0.0% | 0.18% | −0.05 |
| CMCSA Comcast Corp. Class A | Reduce -2.1% | 0.23% | −0.05 |
| ECL Ecolab Inc. | Reduce -25.6% | 0.11% | −0.05 |
| IWM iShares Russell 2000 ETF | Reduce -27.7% | 0.10% | −0.05 |
| IEI iShares 3-7 Year Treasury Bo | Reduce -4.0% | 0.24% | −0.05 |
| ICE Intercontinental Exchange Inc. | Reduce -2.3% | 0.41% | −0.05 |
Portfolio Buys Q1 2025 → Q2 2025
| MSFT Microsoft Corp. | Add +7.8% | 3.75% | +0.70 |
| AVGO Broadcom Inc. | Add +20.9% | 1.29% | +0.54 |
| EEM iShares MSCI Emerging Market | Add +171.6% | 0.49% | +0.30 |
| NFLX Netflix Inc. | Add +18.9% | 0.90% | +0.29 |
| META Meta Platforms Inc. Class A | Add +6.3% | 1.94% | +0.29 |
| VGK Vanguard Ftse Europe ETF | Add +500.1% | 0.35% | +0.29 |
| ORCL Oracle Corp. | Add +17.3% | 0.62% | +0.23 |
| ETR Entergy Corp. | New | 0.22% | +0.22 |
| GE General Electric | Add +624.8% | 0.25% | +0.22 |
| MRVL Marvell Technology Inc. | Add +4212.3% | 0.20% | +0.19 |
| SHV iShares 0-1 Year Treasury Bo | Add +173.9% | 0.32% | +0.19 |
| RSP Invesco S&P 500 Equal Weight | Add +59.4% | 0.60% | +0.18 |
| DIS The Walt Disney Co. | Add +101.8% | 0.33% | +0.18 |
| AMZN Amazon.com Inc. | Add +8.7% | 2.43% | +0.18 |
| ACWI iShares MSCI Acwi ETF | Add +62.7% | 0.47% | +0.17 |
| CAH Cardinal Health Inc. | New | 0.17% | +0.17 |
| WELL Welltower Inc. | Add +1241.4% | 0.18% | +0.16 |
| JPM JPMorgan Chase & Co. | Add +13.8% | 1.14% | +0.16 |
| TLT iShares 20+ Year Treasury BD | Add +288.8% | 0.22% | +0.15 |
| GOOGL Alphabet Inc. Class A | Add +14.0% | 1.43% | +0.15 |
| IVV iShares Core S&P 500 ETF | Add +44.3% | 0.54% | +0.15 |
| PLTR Palantir Technologies Inc. Class A | Add +165.6% | 0.20% | +0.14 |
| MDLZ Mondelez International Inc. Class A | Add +567.3% | 0.16% | +0.13 |
| PFE Pfizer Inc. | Add +71.8% | 0.44% | +0.13 |
| UBER Uber Technologies Inc. | Add +31.1% | 0.40% | +0.12 |
| GLD SPDR Gold Shares | Add +30.3% | 0.77% | +0.12 |
| ITGR Integer Holdings Corp. | New | 0.12% | +0.12 |
| SPGI S&P Global Inc. | Add +565.4% | 0.13% | +0.11 |
| FDX FedEx Corp. | Add +1482.4% | 0.12% | +0.11 |
| ELF Elf Beauty Inc. | New | 0.10% | +0.10 |
| SCHW Schwab (charles) Corp. | Add +265.5% | 0.14% | +0.10 |
| IEF iShares 7-10 Year Treasury B | Add +52.9% | 0.38% | +0.09 |
| CRM Salesforce Inc. | Add +36.3% | 0.57% | +0.09 |
| PEP Pepsico Inc. | Add +507.0% | 0.12% | +0.09 |
| EWJ iShares MSCI Japan ETF | Add +54.9% | 0.27% | +0.08 |
| IYE iShares U.S. Energy ETF | New | 0.08% | +0.08 |
| MCHI iShares MSCI China ETF | Add +262.9% | 0.12% | +0.08 |
| COST Costco Wholesale Corp. | Add +78.3% | 0.21% | +0.08 |
| SPSM SS SPDR P S&P 600 Small Cap | Add +77.2% | 0.20% | +0.08 |
| CEG Constellation Energy | Add +1400.5% | 0.08% | +0.07 |
| XLK SS Technology Select Sector | New | 0.07% | +0.07 |
| ED Consolidated Edison Inc. | New | 0.07% | +0.07 |
| ABBV Abbvie Inc. | Add +77.0% | 0.27% | +0.07 |
| NEM Newmont Corp. | Add +2244.4% | 0.07% | +0.07 |
| XLU St Sr Utl SL SE SPDR ETF-Usd | New | 0.07% | +0.07 |
| KR Kroger Co. | Add +83.6% | 0.17% | +0.07 |
| MS Morgan Stanley | Add +9.3% | 0.53% | +0.06 |
| RACE Ferrari NV | Add +3.6% | 2.71% | +0.06 |
| USMV iShares MSCI USA Min Vol Fac | Add +94.6% | 0.14% | +0.06 |
| ZS Zscaler Inc. | New | 0.06% | +0.06 |
Notes & Other Activity Q1 2025 → Q2 2025
| SHIFT4 PAYMENTS INC (FOUR 6 05/01/28) | 6 SER A CNV PREF | New | 38,700 | $4.5M |
| NEXTERA ENERGY INC (NEE 7.299 06/01/27) | UNIT 06/01/2027 | New | 50,000 | $2.4M |
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 509 | $16.1B | BSBR, MSFT, NVDA, FER, AAPL |
| Q1 2026 | 468 | $12.4B | BSBR, MSFT, FER, NVDA, TTE |
| Q4 2025 | 458 | $13.4B | BSBR, FER, NVDA, MSFT, AAPL |
| Q3 2025 | 470 | $11.3B | BSBR, NVDA, MSFT, AMZN, AAPL |
| Q2 2025Amended | 479 | $10.5B | BSBR, NVDA, MSFT, NRG, RACE |
| Q1 2025 | 476 | $9.1B | BSBR, FER, NVDA, MSFT, NRG |
| Q4 2024 | 447 | $8.3B | BSBR, NVDA, FER, MSFT, NRG |
| Q3 2024 | 443 | $8.5B | BSBR, MSFT, NVDA, NRG, AAPL |
| Q2 2024 | 402 | $8.1B | BSBR, MSFT, NVDA, COTY, NRG |
| Q1 2024 | 417 | $8.3B | BSBR, MSFT, RACE, COTY, NVDA |