Vault-13

BANCO SANTANDER S.A. SAN

ADR · ADR · CUSIP 05964H105

Bank company based in Cantabria, Spain

594 institutional holders +72 vs Q3 2025
451,792,472451.8m shares reported held*
$5.3bnreported value*
78 new 283 added 122 reduced 36 sold out net sold ≈ $120.2m (-11.2m shares)

* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once ($11.0m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $11.76. Options: 8 managers hold calls ($11.6m notional), 8 hold puts ($5.9m).

Trends to Q4 2025

Institutional holders

Managers reporting a position, each quarter

0200400600Q3 22: 289Q4 22: 305Q1 23: 321Q2 23: 321Q3 23: 338Q4 23: 375Q1 24: 381Q2 24: 398Q3 24: 399Q4 24: 410Q1 25: 426Q2 25: 467Q3 25: 522Q4 25: 594594Q3 22Q2 23Q1 24Q4 24Q4 25
Numbers
QuarterHolders
Q3 2022289
Q4 2022305
Q1 2023321
Q2 2023321
Q3 2023338
Q4 2023375
Q1 2024381
Q2 2024398
Q3 2024399
Q4 2024410
Q1 2025426
Q2 2025467
Q3 2025522
Q4 2025594

Buyers vs sellers

Managers adding to or starting a position, vs cutting or selling out

Bought or addedCut or sold out
4000400Q1 24: 194 bought or addedQ1 24: 132 cut or sold outQ2 24: 215 bought or addedQ2 24: 126 cut or sold outQ2 24Q3 24: 196 bought or addedQ3 24: 160 cut or sold outQ4 24: 212 bought or addedQ4 24: 153 cut or sold outQ4 24Q1 25: 233 bought or addedQ1 25: 164 cut or sold outQ2 25: 311 bought or addedQ2 25: 122 cut or sold outQ2 25Q3 25: 336 bought or addedQ3 25: 152 cut or sold outQ4 25: 361 bought or addedQ4 25: 158 cut or sold outQ4 25
Numbers
QuarterBought or addedCut or sold out
Q1 2024194132
Q2 2024215126
Q3 2024196160
Q4 2024212153
Q1 2025233164
Q2 2025311122
Q3 2025336152
Q4 2025361158

Calls vs puts

Options held, notional value, last 4 quarters. P/C = puts ÷ calls

CallsPuts
$0$10m$20m$30mQ1 25 calls: $16.2mQ1 25 puts: $6.1mQ1 25P/C 0.37Q2 25 calls: $28.1mQ2 25 puts: $12.1mQ2 25P/C 0.43Q3 25 calls: $16.0mQ3 25 puts: $10.2mQ3 25P/C 0.64Q4 25 calls: $11.6mQ4 25 puts: $5.9mQ4 25P/C 0.51
Numbers
QuarterCallsPutsP/C
Q1 2025$16.2m$6.1m0.37
Q2 2025$28.1m$12.1m0.43
Q3 2025$16.0m$10.2m0.64
Q4 2025$11.6m$5.9m0.51

Biggest buyers

FMR LLC Added +2,743,002+2.7m
MORGAN STANLEY Added +1,719,432+1.7m
BlackRock, Inc. Added +1,136,916+1.1m
BANK OF AMERICA CORP /DE/ Added +895,997+896.0k
JANE STREET GROUP, LLC New +791,045+791.0k
Optiver Holding B.V. New +624,908+624.9k
AMERICAN CENTURY COMPANIES INC Added +609,834+609.8k
Quantinno Capital Management LP Added +541,374+541.4k
Laird Norton Wetherby Trust Company, LLC New +509,010+509.0k
Capital Wealth Planning, LLC Added +438,971+439.0k

Biggest sellers

Fisher Asset Management, LLC Reduced -10,763,516-10.8m
ARROWSTREET CAPITAL, LIMITED PARTNERSHIP Reduced -5,276,442-5.3m
JPMORGAN CHASE & CO Reduced -2,687,334-2.7m
Mondrian Investment Partners LTD Reduced -2,374,494-2.4m
ROYAL BANK OF CANADA Reduced -1,602,191-1.6m
BAROMETER CAPITAL MANAGEMENT INC. Reduced -1,600,504-1.6m
CITIGROUP INC Reduced -887,072-887.1k
OSAIC HOLDINGS, INC. Reduced -533,532-533.5k
Steamboat Capital Partners, LLC Reduced -473,620-473.6k
OPPENHEIMER & CO INC Reduced -462,495-462.5k

Biggest calls

SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $4.3m363.7k shares
CITADEL ADVISORS LLC Added $1.9m161.4k shares
Optiver Holding B.V. Reduced $1.4m116.5k shares
SIMPLEX TRADING, LLC Reduced $1.3m112.4k shares
Walleye Capital LLC Added $1.2m102.5k shares
GROUP ONE TRADING LLC Added $625.2k53.3k shares
Walleye Trading LLC Added $563.0k48.0k shares
IMC-Chicago, LLC Reduced $403.5k34.4k shares

Biggest puts

Optiver Holding B.V. Reduced $2.2m183.7k shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $1.1m92.1k shares
SIMPLEX TRADING, LLC Reduced $681.5k58.1k shares
Walleye Trading LLC Reduced $647.5k55.2k shares
IMC-Chicago, LLC Added $523.2k44.6k shares
Walleye Capital LLC Reduced $470.4k40.1k shares
CITADEL ADVISORS LLC Reduced $200.6k17.1k shares
GROUP ONE TRADING LLC Reduced $139.6k11.9k shares

Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.

Insider purchases and sales in Q4 2025

Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.

None reported in Q4 2025.

Holders, Q4 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 Fisher Asset Management, LLC 0.39% of their portfolio PLANO, TX 96,865,59196.9m $1.1bn $1.1bn 0.39% Reduced -10.8m -10,763,516
2 MORGAN STANLEY 0.04% of their portfolio NEW YORK, NY 56,109,41856.1m $658.2m $658.2m 0.04% Added +1.7m +1,719,432
3 FMR LLC 0.02% of their portfolio BOSTON, MA 36,862,37136.9m $432.4m $432.4m 0.02% Added +2.7m +2,743,002
4 Mondrian Investment Partners LTD 4.76% of their portfolio LONDON, X0 24,614,57424.6m $288.7m $288.7m 4.76% Reduced -2.4m -2,374,494
5 GOLDMAN SACHS GROUP INC 0.03% of their portfolio NEW YORK, NY 18,046,57418.0m $211.7m $211.7m 0.03% Added +408.1k +408,089
6 BlackRock, Inc. 0.00% of their portfolio New York, NY 14,863,87614.9m $174.4m $174.4m 0.00% Added +1.1m +1,136,916
7 Capital International Investors 0.03% of their portfolio Los Angeles, CA 14,766,84914.8m $174.8m $174.8m 0.03% Added +237.8k +237,825
8 Chevy Chase Trust Holdings, LLC 0.44% of their portfolio BETHESDA, MD 13,961,03614.0m $163.8m $163.8m 0.44% Reduced -20.4k -20,367
9 NORTHERN TRUST CORP 0.02% of their portfolio CHICAGO, IL 12,745,45412.7m $149.5m $149.5m 0.02% Reduced -98.6k -98,575
10 DIMENSIONAL FUND ADVISORS LP 0.03% of their portfolio AUSTIN, TX 10,877,07710.9m $127.6m $127.6m 0.03% Reduced -41.8k -41,842
11 CIBC Private Wealth Group LLC 0.19% of their portfolio ATLANTA, GA 9,400,9079.4m $110.3m $110.3m 0.19% Added +419.0k +419,035
12 Clearbridge Investments, LLC 0.08% of their portfolio NEW YORK, NY 8,983,7719.0m $105.4m $105.4m 0.08% Reduced -150.1k -150,129
13 LAZARD ASSET MANAGEMENT LLC 0.18% of their portfolio NEW YORK, NY 8,883,0838.9m $104.2m $104.2m 0.18% Reduced -328.6k -328,590
14 TODD ASSET MANAGEMENT LLC 1.74% of their portfolio Louisville, KY 7,630,4137.6m $89.5m $89.5m 1.74% Added +194.1k +194,081
15 Clark Capital Management Group, Inc. 0.52% of their portfolio PHILADELPHIA, PA 7,158,2577.2m $84.0m $84.0m 0.52% Added +2.2k +2,204
16 ENVESTNET ASSET MANAGEMENT INC 0.02% of their portfolio Berwyn, PA 5,802,8745.8m $68.1m $68.1m 0.02% Added +249.9k +249,943
17 ARROWSTREET CAPITAL, LIMITED PARTNERSHIP 0.04% of their portfolio BOSTON, MA 5,456,5985.5m $64.0m $64.0m 0.04% Reduced -5.3m -5,276,442
18 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 5,214,3665.2m $61.2m $61.2m 0.00% Added +896.0k +895,997
19 AMERICAN CENTURY COMPANIES INC 0.03% of their portfolio KANSAS CITY, MO 4,926,6784.9m $57.8m $57.8m 0.03% Added +609.8k +609,834
20 TEACHERS RETIREMENT SYSTEM OF THE STATE OF KENTUCKY 0.43% of their portfolio FRANKFORT, KY 4,861,3604.9m $57.0m $57.0m 0.43% Added +349.0k +349,000
21 RAYMOND JAMES FINANCIAL INC 0.02% of their portfolio ST. PETERSBURG, FL 4,121,4764.1m $48.4m $48.4m 0.02% Added +20.7k +20,708
22 WELLS FARGO & COMPANY/MN 0.01% of their portfolio SAN FRANCISCO, CA 3,861,2243.9m $45.3m $45.3m 0.01% Added +83.5k +83,477
23 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 3,220,9983.2m $37.8m $37.8m 0.00% Reduced -2.7m -2,687,334
24 NATIXIS ADVISORS, LLC 0.05% of their portfolio Boston, MA 3,067,1843.1m $36.0m $36.0m 0.05% Reduced -219.8k -219,815
25 ROYAL BANK OF CANADA 0.01% of their portfolio TORONTO, A6 2,479,6172.5m $29.1m $29.1m 0.01% Reduced -1.6m -1,602,191
26 CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.00% of their portfolio SAN FRANCISCO, CA 2,246,4102.2m $26.4m $26.4m 0.00% Added +268.0k +268,043
27 Creative Planning 0.02% of their portfolio OVERLAND PARK, KS 1,965,9422.0m $23.1m $23.1m 0.02% Added +184.0k +183,954
28 O'SHAUGHNESSY ASSET MANAGEMENT, LLC 0.12% of their portfolio Stamford, CT 1,922,8701.9m $22.6m $22.6m 0.12% Added +4.0k +4,047
29 Quantinno Capital Management LP 0.04% of their portfolio NEW YORK, NY 1,861,9051.9m $21.8m $21.8m 0.04% Added +541.4k +541,374
30 LPL Financial LLC 0.00% of their portfolio FORT MILL, SC 1,545,8661.5m $18.1m $18.1m 0.00% Added +94.5k +94,531
31 QRG CAPITAL MANAGEMENT, INC. 0.17% of their portfolio BERWYN, PA 1,335,1641.3m $15.7m $15.7m 0.17% Added +67.2k +67,240
32 AQR CAPITAL MANAGEMENT LLC 0.01% of their portfolio Greenwich, CT 1,289,0671.3m $15.1m $15.1m 0.01% Added +250.3k +250,317
33 MERCER GLOBAL ADVISORS INC /ADV 0.02% of their portfolio DENVER, CO 1,222,2171.2m $14.3m $14.3m 0.02% Added +42.6k +42,629
34 Bank of New York Mellon Corp 0.00% of their portfolio NEW YORK, NY 1,162,2011.2m $13.6m $13.6m 0.00% Added +170.4k +170,416
35 Crossmark Global Holdings, Inc. 0.19% of their portfolio HOUSTON, TX 1,130,3171.1m $13.3m $13.3m 0.19% Reduced -149.9k -149,936
36 Mariner, LLC 0.01% of their portfolio Overland Park, KS 1,070,7261.1m $12.6m $12.6m 0.01% Added +89.7k +89,700
37 STIFEL FINANCIAL CORP 0.01% of their portfolio ST. LOUIS, MO 999,826999.8k $11.7m $11.7m 0.01% Added +36.5k +36,529
38 Capital Wealth Planning, LLC 0.07% of their portfolio NAPLES, FL 939,147939.1k $11.3m $11.3m 0.07% Added +439.0k +438,971
39 Pathstone Holdings, LLC 0.04% of their portfolio ENGLEWOOD, NJ 933,437933.4k $10.9m $10.9m 0.04% Added +69.1k +69,054
40 Steamboat Capital Partners, LLC 2.91% of their portfolio RYE, NY 903,926903.9k $10.6m $10.6m 2.91% Reduced -473.6k -473,620
41 Cerity Partners LLC 0.02% of their portfolio NEW YORK, NY 900,485900.5k $10.6m $10.6m 0.02% Reduced -41.8k -41,759
42 OPPENHEIMER & CO INC 0.15% of their portfolio NEW YORK, NY 872,724872.7k $10.2m $10.2m 0.15% Reduced -462.5k -462,495
43 MML INVESTORS SERVICES, LLC 0.02% of their portfolio SPRINGFIELD, MA 827,552827.6k $9.7m $9.7m 0.02% Added +164.2k +164,205
44 SEI INVESTMENTS CO 0.01% of their portfolio OAKS, PA 808,499808.5k $9.5m $9.5m 0.01% Added +20.4k +20,426
45 JANE STREET GROUP, LLC 0.01% of their portfolio NEW YORK, NY 791,045791.0k $9.3m $9.3m 0.01% New
46 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 764,056764.1k $9.0m $9.0m 0.00% Added +235.2k +235,207
47 DV EQUITIES, LLC 1.61% of their portfolio CHICAGO, IL 757,680757.7k $8.9m $8.9m 1.61% First filing
48 RWA WEALTH PARTNERS, LLC 0.10% of their portfolio BOSTON, MA 756,489756.5k $8.9m $8.9m 0.10% Added +62.0k +62,034
49 Orion Porfolio Solutions, LLC 0.06% of their portfolio OMAHA, NE 742,060742.1k $8.7m $8.7m 0.06% Added +4.1k +4,136
50 Vanguard Personalized Indexing Management, LLC 0.08% of their portfolio OAKLAND, CA 727,361727.4k $8.5m $8.5m 0.08% Added +2.4k +2,379
51 US BANCORP \DE\ 0.01% of their portfolio MINNEAPOLIS, MN 713,050713.0k $8.4m $8.4m 0.01% Added +89.3k +89,253
52 Corient Private Wealth LP 0.01% of their portfolio MIAMI, FL 655,744655.7k $7.7m $7.7m 0.01% Added +344.6k +344,633
53 Cetera Investment Advisers 0.01% of their portfolio SCHAUMBURG, IL 644,694644.7k $7.6m $7.6m 0.01% Added +33.5k +33,549
54 FIRST TRUST ADVISORS LP 0.01% of their portfolio Wheaton, IL 644,252644.3k $7.6m $7.6m 0.01% Added +28.9k +28,913
55 Optiver Holding B.V. 0.13% of their portfolio AMSTERDAM, P7 624,908624.9k $7.3m $7.3m 0.13% New
56 TD Waterhouse Canada Inc. 0.04% of their portfolio TORONTO, A6 598,249598.2k $7.0m $7.0m 0.04% Added +97.7k +97,659
57 CITIGROUP INC 0.00% of their portfolio NEW YORK, NY 594,389594.4k $7.0m $7.0m 0.00% Reduced -887.1k -887,072
58 Callan Family Office, LLC 0.14% of their portfolio RADNOR, PA 573,704573.7k $6.7m $6.7m 0.14% Added +248.7k +248,722
59 UBS Group AG 0.00% of their portfolio ZURICH, V8 556,816556.8k $6.5m $6.5m 0.00% Added +127.4k +127,405
60 QUADRANT CAPITAL GROUP LLC 0.19% of their portfolio CINCINNATI, OH 531,411531.4k $6.2m $6.2m 0.19% Added +2.8k +2,803
61 HighTower Advisors, LLC 0.01% of their portfolio CHICAGO, IL 519,836519.8k $6.1m $6.1m 0.01% Added +5.7k +5,680
62 FACTORY MUTUAL INSURANCE CO 0.06% of their portfolio WALTHAM, MA 515,311515.3k $6.0m $6.0m 0.06% Unchanged
63 Laird Norton Wetherby Trust Company, LLC 0.12% of their portfolio Seattle, WA 509,010509.0k $6.0m $6.0m 0.12% New
64 MARIETTA INVESTMENT PARTNERS LLC 1.11% of their portfolio MILWAUKEE, WI 476,442476.4k $5.6m $5.6m 1.11% Added +123.7k +123,692
65 IEQ CAPITAL, LLC 0.02% of their portfolio Foster City, CA 474,110474.1k $5.6m $5.6m 0.02% Added +251.8k +251,815
66 CITADEL ADVISORS LLC 0.00% of their portfolio MIAMI, FL 464,292464.3k $5.4m $5.4m 0.00% Added +156.5k +156,511
67 Vident Advisory, LLC 0.05% of their portfolio Alpharetta, GA 462,955463.0k $5.4m $5.4m 0.05% Reduced -31.2k -31,186
68 PARK AVENUE SECURITIES LLC 0.04% of their portfolio NEW YORK, NY 441,801441.8k $5.2m $5.2m 0.04% Added +15.8k +15,779
69 NEW YORK STATE COMMON RETIREMENT FUND 0.01% of their portfolio ALBANY, NY 424,463424.5k $5.0m $5.0m 0.01% Added +100.0k +100,011
70 Vestmark Advisory Solutions, Inc. 0.07% of their portfolio Wakefield, MA 417,677417.7k $4.9m $4.9m 0.07% Added +111.2k +111,235
71 CIBC WORLD MARKET INC. 0.01% of their portfolio TORONTO, A6 405,991406.0k $4.8m $4.8m 0.01% Added +7.6k +7,555
72 RITHOLTZ WEALTH MANAGEMENT 0.09% of their portfolio NEW YORK, NY 404,068404.1k $4.7m $4.7m 0.09% Added +5.3k +5,263
73 Integrated Quantitative Investments LLC 1.00% of their portfolio BELLEVUE, WA 395,500395.5k $4.6m $4.6m 1.00% Added +85.6k +85,586
74 RHUMBLINE ADVISERS 0.00% of their portfolio BOSTON, MA 384,262384.3k $4.5m $4.5m 0.00% Added +72.4k +72,428
75 NewEdge Wealth, LLC 0.05% of their portfolio STAMFORD, CT 372,175372.2k $4.4m $4.4m 0.05% Added +25.6k +25,591
76 PNC Financial Services Group, Inc. 0.00% of their portfolio Pittsburgh, PA 357,048357.0k $4.2m $4.2m 0.00% Reduced -20.9k -20,869
77 OPPENHEIMER ASSET MANAGEMENT INC. 0.05% of their portfolio NEW YORK, NY 356,578356.6k $4.2m $4.2m 0.05% Reduced -36.6k -36,572
78 SIGNATUREFD, LLC 0.06% of their portfolio ATLANTA, GA 355,895355.9k $4.2m $4.2m 0.06% Added +11.7k +11,690
79 Ethic Inc. 0.06% of their portfolio NEW YORK, NY 353,448353.4k $4.1m $4.1m 0.06% Reduced -22.1k -22,137
80 Arlington Capital Management, Inc. 2.45% of their portfolio ARLINGTON HEIGHTS, IL 340,204340.2k $4.0m $4.0m 2.45% Reduced -892 -892
81 NATIONAL BANK OF CANADA /FI/ 0.00% of their portfolio MONTREAL, A8 335,301335.3k $3.9m $3.9m 0.00% Reduced -7.4k -7,437
82 Naviter Wealth, LLC 0.51% of their portfolio LITTLE ROCK, AR 332,041332.0k $3.9m $3.9m 0.51% Reduced -24.0k -23,955
83 Sanctuary Advisors, LLC 0.02% of their portfolio INDIANAPOLIS, IN 315,026315.0k $3.7m $3.7m 0.02% Reduced -82.4k -82,419
84 TUDOR INVESTMENT CORP ET AL 0.02% of their portfolio STAMFORD, CT 309,533309.5k $3.6m $3.6m 0.02% Reduced -184.8k -184,791
85 Calamos Wealth Management LLC 0.13% of their portfolio NAPERVILLE, IL 309,079309.1k $3.6m $3.6m 0.13% Added +17.0k +17,039
86 Focus Partners Wealth 0.00% of their portfolio ST LOUIS, MO 303,768303.8k $3.6m $3.6m 0.00% Added +54.0k +53,983
87 BANK OF MONTREAL /CAN/ 0.00% of their portfolio TORONTO, A6 300,126300.1k $3.5m $3.5m 0.00% Added +25.0k +24,995
88 Russell Investments Group, Ltd. 0.00% of their portfolio Seattle, WA 296,939296.9k $3.5m $3.5m 0.00% Reduced -93.0k -92,966
89 Qube Research & Technologies Ltd 0.00% of their portfolio LONDON, X0 294,543294.5k $3.5m $3.5m 0.00% New
90 AMERIPRISE FINANCIAL INC 0.00% of their portfolio MINNEAPOLIS, MN 285,494285.5k $3.3m $3.3m 0.00% Reduced -89.2k -89,220
91 CacheTech Inc. 0.61% of their portfolio LOGAN, UT 280,875280.9k $3.3m $3.3m 0.61% Reduced -2.8k -2,783
92 Advisors Asset Management, Inc. 0.05% of their portfolio Monument, CO 276,291276.3k $3.2m $3.2m 0.05% Added +57.2k +57,154
93 &PARTNERS 0.02% of their portfolio NASHVILLE, TN 273,355273.4k $3.2m $3.2m 0.02% Added +126.6k +126,599
94 Pekin Hardy Strauss, Inc. 0.28% of their portfolio CHICAGO, IL 255,122255.1k $3.0m $3.0m 0.28% Added +6.0k +6,012
95 Forum Financial Management, LP 0.04% of their portfolio LOMBARD, IL 254,344254.3k $3.0m $3.0m 0.04% Unchanged
96 Compound Planning, Inc. 0.09% of their portfolio NEW YORK, NY 253,126253.1k $3.0m $3.0m 0.09% Added +27.2k +27,247
97 ZIONS BANCORPORATION, NATIONAL ASSOCIATION /UT/ 0.14% of their portfolio SALT LAKE CITY, UT 251,288251.3k $2.9m $2.9m 0.14% Added +6.1k +6,057
98 OPAL CAPITAL LLC 0.73% of their portfolio BOCA RATON, FL 249,310249.3k $2.9m $2.9m 0.73% First filing
99 TrueMark Investments, LLC 0.55% of their portfolio CHICAGO, IL 247,661247.7k $2.9m $2.9m 0.55% Added +32.2k +32,232
100 Point72 Asset Management, L.P. 0.00% of their portfolio STAMFORD, CT 245,882245.9k $2.9m $2.9m 0.00% New