Banco Santander, S.A.
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 13, 2026), Banco Santander, S.A. reported 458 stock positions worth $13.4 billion. Its top holding was Banco Santander Brasil-ADS (BSBR) at 23.8% of the portfolio, followed by Ferrovial (FER, 4.7%) and Nvidia (NVDA, 4.0%). Compared with Q3 2025, it opened 44 new positions, sold out of 56, added to 210 and reduced 160. The biggest buy was Ferrovial (FER, shares +150%) and the biggest sale Nvidia (NVDA, shares −6%).
- Most Recent 13F
- Q2 2026
- Location
- Madrid, U3
- CIK
- 0000891478
- Portfolio Value
- $13.4B (Q4 2025)
- SEC Filing
- 0000891478-26-000012 ↗ filed Feb 13, 2026
Holdings Value
Holdings 458 stocks · $13.4B
| BSBR Banco Santander Brasil-ADS | 23.80% | 520,218,168 | $3.2B | No change |
| FER Ferrovial NV | 4.68% | 9,678,404 | $625.3M | Add +150.2% |
| NVDA Nvidia Corp. | 4.03% | 2,884,062 | $537.9M | Reduce -5.6% |
| MSFT Microsoft Corp. | 3.75% | 1,034,547 | $500.3M | Add +24.4% |
| AAPL Apple Inc. | 3.32% | 1,632,089 | $443.7M | Add +24.7% |
| AMZN Amazon.com Inc. | 2.89% | 1,671,470 | $385.8M | Add +8.7% |
| META Meta Platforms Inc. Class A | 2.49% | 503,687 | $332.5M | Add +78.2% |
| TTE Totalenergies SE | 2.27% | 4,627,137 | $302.7M | New |
| AVGO Broadcom Inc. | 2.09% | 806,006 | $279.0M | Add +63.2% |
| GOOGL Alphabet Inc. Class A | 1.83% | 780,255 | $244.2M | Reduce -3.6% |
| RACE Ferrari NV | 1.78% | 642,921 | $237.6M | Add +11.2% |
| STLA Stellantis NV | 1.55% | 19,046,160 | $207.4M | Add +100.0% |
| TSLA Tesla Inc. | 1.47% | 436,458 | $196.3M | Reduce -1.4% |
| GOOG Alphabet Inc. Class C | 1.40% | 597,430 | $187.5M | Add +28.5% |
| DB Deutsche Bank AG-Registered | 1.17% | 4,068,622 | $156.9M | Add +4.7% |
| VOO Vanguard S&P 500 ETF | 1.15% | 245,748 | $154.1M | Add +11.4% |
| JPM JPMorgan Chase & Co. | 1.15% | 475,926 | $153.4M | Add +5.2% |
| GLD SPDR Gold Shares | 1.11% | 373,406 | $148.0M | Add +15.7% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.96% | 188,686 | $128.7M | Reduce -22.6% |
| LLY Eli Lilly & Co. | 0.91% | 112,580 | $121.0M | Add +1.2% |
| QQQM Invesco Nasdaq 100 ETF | 0.79% | 417,000 | $105.5M | Reduce -1.9% |
| IVV iShares Core S&P 500 ETF | 0.75% | 145,918 | $99.9M | Add +52.4% |
| V Visa Inc. Class A | 0.70% | 267,065 | $93.7M | Add +10.3% |
| WMT Walmart Inc. | 0.68% | 812,706 | $90.5M | Reduce -4.7% |
| NFLX Netflix Inc. | 0.59% | 834,620 | $78.3M | Add +25.2% |
| C Citigroup Inc. | 0.56% | 646,155 | $75.4M | Add +4.6% |
| CRM Salesforce Inc. | 0.56% | 283,849 | $75.2M | Add +25.0% |
| MS Morgan Stanley | 0.55% | 416,761 | $74.0M | Reduce -1.1% |
| COTY Coty Inc. Class A | 0.53% | 23,112,758 | $71.2M | No change |
| ORCL Oracle Corp. | 0.53% | 365,223 | $71.2M | Add +24.3% |
| MA Mastercard Inc. Class A | 0.52% | 120,708 | $68.9M | Add +16.5% |
| MU Micron Technology Inc. | 0.49% | 229,933 | $65.6M | Add +174.8% |
| XOM Exxon Mobil Corp. | 0.46% | 505,969 | $60.9M | Reduce -0.6% |
| CAT Caterpillar Inc. | 0.45% | 103,741 | $59.4M | Add +6.2% |
| ISRG Intuitive Surgical Inc. | 0.44% | 103,333 | $58.5M | Add +25.2% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.43% | 1,043,242 | $57.4M | Reduce -5.5% |
| URTH iShares MSCI World ETF | 0.43% | 305,829 | $56.8M | Add +29.4% |
| TMO Thermo Fisher Scientific Inc. | 0.41% | 94,716 | $54.9M | Add +25.3% |
| LRCX Lam Research Corp. | 0.38% | 299,635 | $51.3M | Add +19.0% |
| KO The Coca-Cola Co. | 0.38% | 728,435 | $50.9M | Add +24.2% |
| SHV iShares 0-1 Year Treasury Bo | 0.37% | 449,776 | $49.5M | Add +26.4% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.37% | 165,827 | $49.1M | Add +22.8% |
| GE General Electric filed as GE AEROSPACE | 0.37% | 158,820 | $48.9M | Add +26.8% |
| AMD Advanced Micro Devices | 0.35% | 217,834 | $46.7M | Add +32.1% |
| ACWI iShares MSCI Acwi ETF | 0.34% | 321,149 | $45.4M | Add +6.6% |
| ICE Intercontinental Exchange Inc. | 0.33% | 274,792 | $44.5M | Add +25.3% |
| BMY Bristol-Myers Squibb Co. | 0.33% | 824,062 | $44.4M | Add +63.5% |
| VRTX Vertex Pharmaceuticals Inc. | 0.33% | 98,027 | $44.4M | Add +23.4% |
| GS Goldman Sachs Group Inc. | 0.32% | 49,317 | $43.3M | Add +9.1% |
| RSP Invesco S&P 500 Equal Weight | 0.32% | 220,609 | $42.3M | Reduce -5.8% |
| ADBE Adobe Inc. | 0.31% | 119,967 | $42.0M | Add +12.0% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.31% | 82,906 | $41.7M | Add +0.5% |
| PFE Pfizer Inc. | 0.31% | 1,661,972 | $41.4M | Reduce -15.8% |
| VWO Vanguard Ftse Emerging Marke | 0.30% | 739,200 | $39.7M | Add +7.3% |
| CVX Chevron Corp. | 0.29% | 251,633 | $38.4M | Add +127.7% |
| UBER Uber Technologies Inc. | 0.29% | 468,422 | $38.3M | Add +21.2% |
| WAB Wabtec Corp. | 0.28% | 177,540 | $37.9M | Add +23.7% |
| QCOM Qualcomm Inc. | 0.28% | 219,867 | $37.6M | Reduce -9.4% |
| VGK Vanguard Ftse Europe ETF | 0.28% | 448,484 | $37.5M | Add +9.4% |
| PG The Procter & Gamble Co. | 0.28% | 257,800 | $36.9M | Add +19.7% |
| MRVL Marvell Technology Inc. | 0.27% | 428,872 | $36.4M | Reduce -2.5% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.27% | 320,225 | $36.4M | Reduce -3.8% |
| WM Waste Management Inc. | 0.27% | 162,287 | $35.7M | Add +19.7% |
| COF Capital One Financial Corp. | 0.27% | 146,946 | $35.6M | Add +63.4% |
| ADI Analog Devices Inc. | 0.25% | 125,524 | $34.0M | Add +22.8% |
| IQV Iqvia Holdings Inc. | 0.25% | 150,557 | $33.9M | Add +25.2% |
| ABBV Abbvie Inc. | 0.25% | 145,616 | $33.3M | Reduce -5.0% |
| SPSM SS SPDR P S&P 600 Small Cap | 0.24% | 696,741 | $32.6M | Add +18.8% |
| IEI iShares 3-7 Year Treasury Bo | 0.24% | 271,993 | $32.5M | Add +20.6% |
| QQQ Invesco QQQ Trust Series 1 | 0.24% | 52,733 | $32.4M | Add +1.3% |
| GILD Gilead Sciences Inc. | 0.24% | 261,844 | $32.1M | Add +96.9% |
| NOW ServiceNow Inc. | 0.24% | 208,477 | $31.9M | Reduce -23.2% |
| HON Honeywell International Inc. | 0.24% | 162,485 | $31.7M | Add +69.5% |
| CSCO Cisco Systems Inc. | 0.23% | 404,414 | $31.2M | Add +1.0% |
| PH Parker Hannifin Corp. | 0.23% | 35,398 | $31.1M | Reduce -4.6% |
| WELL Welltower Inc. | 0.23% | 165,390 | $30.7M | Add +58.0% |
| REGN Regeneron Pharmaceuticals | 0.22% | 37,732 | $29.1M | Reduce -47.0% |
| SPAB SS SPDR P Agg Bond ETF | 0.22% | 1,120,896 | $28.9M | Add +0.3% |
| COST Costco Wholesale Corp. | 0.22% | 33,456 | $28.9M | Add +6.7% |
| APH Amphenol Corp. Class A | 0.22% | 212,876 | $28.8M | Add +6.7% |
| CME Cme Group Inc. | 0.21% | 102,952 | $28.1M | Add +2.4% |
| VCIT Vanguard Int-Term Corporate | 0.21% | 335,206 | $28.1M | Add +138.2% |
| DNUT Krispy Kreme Inc. | 0.21% | 6,916,972 | $27.8M | No change |
| HD Home Depot Inc. | 0.20% | 75,844 | $26.1M | Reduce -47.0% |
| SPGI S&P Global Inc. | 0.19% | 49,739 | $26.0M | Add +41.8% |
| MRSH Marsh & McLennan Cos | 0.19% | 139,648 | $25.9M | Add +2561.5% |
| HAS Hasbro Inc. | 0.19% | 314,821 | $25.8M | Add +332.3% |
| CMCSA Comcast Corp. Class A | 0.19% | 903,579 | $25.3M | Add +36.1% |
| EL Estee Lauder Companies Class A filed as LAUDER ESTEE COS INC | 0.19% | 241,153 | $25.3M | Add +25.3% |
| SCHW Schwab (charles) Corp. | 0.19% | 251,553 | $25.1M | Add +0.3% |
| UNH Unitedhealth Group Inc. | 0.19% | 75,843 | $25.0M | Add +18.2% |
| BKNG Booking Holdings Inc. | 0.18% | 4,538 | $24.3M | Reduce -4.8% |
| EIX Edison International | 0.18% | 399,304 | $24.0M | Add +12.9% |
| ETR Entergy Corp. | 0.18% | 256,367 | $23.7M | Reduce -9.1% |
| KKR KKR & Co. Inc. | 0.18% | 184,994 | $23.6M | Add +27.6% |
| AME Ametek Inc. | 0.17% | 113,791 | $23.4M | Add +77.9% |
| PANW Palo Alto Networks Inc. | 0.17% | 125,202 | $23.1M | Add +188.8% |
| MCD McDonald's Corp. | 0.17% | 74,351 | $22.7M | Add +58.4% |
| CTAS Cintas Corp. | 0.16% | 116,284 | $21.9M | Add +8.0% |
| BIL SS SPDR BB 1-3M T-Bill ETF | 0.16% | 236,938 | $21.7M | Add +213.7% |
Other holdings (1): bonds, preferreds, convertibles and warrants · $428K (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| BOEING CO/THE (BA 6 10/15/27) | DEP CONV PFD A | 6,203 | $428K | No change |
Total filed on the 13F, all lines: $13.4B.
Portfolio Sells Q3 2025 → Q4 2025
| NVDA Nvidia Corp. | Reduce -5.6% | 4.03% | −1.03 |
| SPY SS SPDR S&P 500 ETF Trust-US | Reduce -22.6% | 0.96% | −0.48 |
| EEM iShares MSCI Emerging Market | Reduce -88.5% | 0.05% | −0.47 |
| HD Home Depot Inc. | Reduce -47.0% | 0.20% | −0.32 |
| TSLA Tesla Inc. | Reduce -1.4% | 1.47% | −0.28 |
| NOW ServiceNow Inc. | Reduce -23.2% | 0.24% | −0.20 |
| DXCM Dexcom Inc. | Sold out | 0.00% | −0.15 |
| CL Colgate-Palmolive Co. | Reduce -95.9% | 0.01% | −0.14 |
| QQQM Invesco Nasdaq 100 ETF | Reduce -1.9% | 0.79% | −0.14 |
| REGN Regeneron Pharmaceuticals | Reduce -47.0% | 0.22% | −0.14 |
| PFE Pfizer Inc. | Reduce -15.8% | 0.31% | −0.14 |
| IEF iShares 7-10 Year Treasury B | Reduce -39.8% | 0.14% | −0.13 |
| PYPL PayPal Holdings Inc. | Reduce -50.7% | 0.07% | −0.13 |
| ITRI Itron Inc. | Reduce -12.7% | 0.16% | −0.13 |
| IR Ingersoll-Rand Inc. | Reduce -84.8% | 0.02% | −0.12 |
| SPG Simon Property Group Inc. | Reduce -37.8% | 0.12% | −0.11 |
| USMV iShares MSCI USA Min Vol Fac | Reduce -97.5% | 0.00% | −0.11 |
| FAST Fastenal Co. | Sold out | 0.00% | −0.11 |
| FDX FedEx Corp. | Reduce -94.7% | 0.01% | −0.11 |
| TMUS T-Mobile US Inc. | Reduce -39.9% | 0.08% | −0.11 |
| WMT Walmart Inc. | Reduce -4.7% | 0.68% | −0.10 |
| MCO Moody's Corp. | Reduce -84.9% | 0.01% | −0.09 |
| DD Dupont DE Nemours Inc. | Sold out | 0.00% | −0.09 |
| EWJ iShares MSCI Japan ETF | Reduce -38.6% | 0.09% | −0.08 |
| LILAK Liberty Latin Americ Class C | Sold out | 0.00% | −0.08 |
| MVBF MVB Financial Corp. | Sold out | 0.00% | −0.08 |
| TPR Tapestry Inc. | Sold out | 0.00% | −0.08 |
| RSP Invesco S&P 500 Equal Weight | Reduce -5.8% | 0.32% | −0.08 |
| QCOM Qualcomm Inc. | Reduce -9.4% | 0.28% | −0.08 |
| DOV Dover Corp. | Sold out | 0.00% | −0.08 |
| BAC Bank of America Corp. | Reduce -5.5% | 0.43% | −0.08 |
| MSI Motorola Solutions Inc. | Reduce -9.6% | 0.13% | −0.07 |
| ABBV Abbvie Inc. | Reduce -5.0% | 0.25% | −0.07 |
| DIS The Walt Disney Co. | Reduce -3.8% | 0.27% | −0.07 |
| HUBS HubSpot Inc. | Sold out | 0.00% | −0.06 |
| DRI Darden Restaurants Inc. | Sold out | 0.00% | −0.06 |
| XSVM Invesco S&P Smallcap Value W | Reduce -33.0% | 0.08% | −0.06 |
| ETR Entergy Corp. | Reduce -9.1% | 0.18% | −0.06 |
| MRVL Marvell Technology Inc. | Reduce -2.5% | 0.27% | −0.06 |
| XOM Exxon Mobil Corp. | Reduce -0.6% | 0.46% | −0.05 |
| EPP iShares MSCI Pacific Ex Japa | Reduce -60.6% | 0.03% | −0.05 |
| ITGR Integer Holdings Corp. | Reduce -27.8% | 0.05% | −0.05 |
| TJX TJX Companies Inc. | Reduce -16.5% | 0.15% | −0.05 |
| ZS Zscaler Inc. | Sold out | 0.00% | −0.05 |
| BKNG Booking Holdings Inc. | Reduce -4.8% | 0.18% | −0.05 |
| MCHP Microchip Technology Inc. | Sold out | 0.00% | −0.04 |
| MCHI iShares MSCI China ETF | Reduce -30.0% | 0.05% | −0.04 |
| ENPH Enphase Energy Inc. | Reduce -52.8% | 0.02% | −0.04 |
| MS Morgan Stanley | Reduce -1.1% | 0.55% | −0.04 |
| BLK BlackRock Inc. | Reduce -62.1% | 0.01% | −0.04 |
Portfolio Buys Q3 2025 → Q4 2025
| FER Ferrovial NV | Add +150.2% | 4.68% | +2.67 |
| TTE Totalenergies SE | New | 2.27% | +2.27 |
| STLA Stellantis NV | Add +100.0% | 1.55% | +0.76 |
| META Meta Platforms Inc. Class A | Add +78.2% | 2.49% | +0.65 |
| AVGO Broadcom Inc. | Add +63.2% | 2.09% | +0.64 |
| GOOG Alphabet Inc. Class C | Add +28.5% | 1.40% | +0.40 |
| MU Micron Technology Inc. | Add +174.8% | 0.49% | +0.37 |
| AAPL Apple Inc. | Add +24.7% | 3.32% | +0.36 |
| MRSH Marsh & McLennan Cos | Add +2561.5% | 0.19% | +0.18 |
| IVV iShares Core S&P 500 ETF | Add +52.4% | 0.75% | +0.18 |
| LLY Eli Lilly & Co. | Add +1.2% | 0.91% | +0.15 |
| HAS Hasbro Inc. | Add +332.3% | 0.19% | +0.14 |
| CVX Chevron Corp. | Add +127.7% | 0.29% | +0.13 |
| BMY Bristol-Myers Squibb Co. | Add +63.5% | 0.33% | +0.13 |
| AMD Advanced Micro Devices | Add +32.1% | 0.35% | +0.11 |
| ISRG Intuitive Surgical Inc. | Add +25.2% | 0.44% | +0.11 |
| GILD Gilead Sciences Inc. | Add +96.9% | 0.24% | +0.11 |
| VCIT Vanguard Int-Term Corporate | Add +138.2% | 0.21% | +0.11 |
| BIL SS SPDR BB 1-3M T-Bill ETF | Add +213.7% | 0.16% | +0.10 |
| COF Capital One Financial Corp. | Add +63.4% | 0.27% | +0.10 |
| PANW Palo Alto Networks Inc. | Add +188.8% | 0.17% | +0.09 |
| GLD SPDR Gold Shares | Add +15.7% | 1.11% | +0.09 |
| WIX Wix.com Ltd. | New | 0.09% | +0.09 |
| TMO Thermo Fisher Scientific Inc. | Add +25.3% | 0.41% | +0.09 |
| CRM Salesforce Inc. | Add +25.0% | 0.56% | +0.09 |
| LRCX Lam Research Corp. | Add +19.0% | 0.38% | +0.08 |
| SNOW Snowflake Inc. | Add +281.2% | 0.11% | +0.08 |
| AME Ametek Inc. | Add +77.9% | 0.17% | +0.07 |
| MO Altria Group Inc. | Add +3468.2% | 0.07% | +0.07 |
| WELL Welltower Inc. | Add +58.0% | 0.23% | +0.06 |
| PINS Pinterest Inc. Class A | New | 0.06% | +0.06 |
| SEI Solaris Energy Infrastructur | New | 0.06% | +0.06 |
| HON Honeywell International Inc. | Add +69.5% | 0.24% | +0.06 |
| FCX Freeport-McMoran Inc. | Add +129.3% | 0.10% | +0.06 |
| VRTX Vertex Pharmaceuticals Inc. | Add +23.4% | 0.33% | +0.06 |
| VGT Vanguard Info Tech ETF | New | 0.05% | +0.05 |
| IQV Iqvia Holdings Inc. | Add +25.2% | 0.25% | +0.05 |
| SMTC Semtech Corp. | New | 0.05% | +0.05 |
| IEMG iShares Core MSCI Emerging | New | 0.05% | +0.05 |
| URTH iShares MSCI World ETF | Add +29.4% | 0.43% | +0.04 |
| MCD McDonald's Corp. | Add +58.4% | 0.17% | +0.04 |
| SPGI S&P Global Inc. | Add +41.8% | 0.19% | +0.04 |
| CEG Constellation Energy | Add +73.7% | 0.11% | +0.04 |
| EWZ iShares MSCI Brazil ETF | Add +128.3% | 0.08% | +0.04 |
| EL Estee Lauder Companies Class A | Add +25.3% | 0.19% | +0.04 |
| SLB SLB Ltd. | Add +55.0% | 0.12% | +0.04 |
| INTC Intel Corp. | Add +46.7% | 0.14% | +0.04 |
| KO The Coca-Cola Co. | Add +24.2% | 0.38% | +0.04 |
| ESGU iShares ESG Aware MSCI USA | New | 0.03% | +0.03 |
| ESGV Vanguard ESG US Stock ETF | New | 0.03% | +0.03 |
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 |