Vault-13

FERROVIAL SE FER

ORD SHS · Common Stock · CUSIP N3168P101

316 institutional holders +42 vs Q4 2025
218,948,735218.9m shares reported held*
$14.1bnreported value*
59 new 120 added 96 reduced 24 sold out net sold ≈ $246.8m (-3.7m 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 ($1.7m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $64.58. Options: 7 managers hold calls ($69.1m notional), 7 hold puts ($43.8m).

Trends to Q1 2026

Institutional holders

Managers reporting a position, each quarter

0200400Q2 24: 88Q3 24: 109Q4 24: 135Q1 25: 147Q2 25: 174Q3 25: 204Q4 25: 274Q1 26: 316316Q2 24Q4 24Q2 25Q4 25Q1 26
Numbers
QuarterHolders
Q2 202488
Q3 2024109
Q4 2024135
Q1 2025147
Q2 2025174
Q3 2025204
Q4 2025274
Q1 2026316

Buyers vs sellers

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

Bought or addedCut or sold out
2000200Q3 24: 62 bought or addedQ3 24: 38 cut or sold outQ3 24Q4 24: 71 bought or addedQ4 24: 59 cut or sold outQ1 25: 87 bought or addedQ1 25: 52 cut or sold outQ1 25Q2 25: 123 bought or addedQ2 25: 49 cut or sold outQ3 25: 134 bought or addedQ3 25: 68 cut or sold outQ3 25Q4 25: 186 bought or addedQ4 25: 83 cut or sold outQ1 26: 179 bought or addedQ1 26: 120 cut or sold outQ1 26
Numbers
QuarterBought or addedCut or sold out
Q3 20246238
Q4 20247159
Q1 20258752
Q2 202512349
Q3 202513468
Q4 202518683
Q1 2026179120

Calls vs puts

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

CallsPuts
$0$50m$100m$150mQ2 25 calls: $43.9mQ2 25 puts: $1.6mQ2 25P/C 0.04Q3 25 calls: $103.3mQ3 25 puts: $27.5mQ3 25P/C 0.27Q4 25 calls: $91.4mQ4 25 puts: $27.5mQ4 25P/C 0.30Q1 26 calls: $69.1mQ1 26 puts: $43.8mQ1 26P/C 0.63
Numbers
QuarterCallsPutsP/C
Q2 2025$43.9m$1.6m0.04
Q3 2025$103.3m$27.5m0.27
Q4 2025$91.4m$27.5m0.30
Q1 2026$69.1m$43.8m0.63

Biggest buyers

Amundi Added +4,351,267+4.4m
BNP PARIBAS ASSET MANAGEMENT Holding S.A. Added +2,516,095+2.5m
CITIGROUP INC Added +1,863,652+1.9m
FMR LLC Added +1,838,305+1.8m
DNCA FINANCE New +574,068+574.1k
DUFF & PHELPS INVESTMENT MANAGEMENT CO New +395,900+395.9k
Swiss National Bank Added +375,590+375.6k
MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Added +361,022+361.0k
ACADIAN ASSET MANAGEMENT LLC Added +244,442+244.4k
Nuveen, LLC Added +243,405+243.4k

Biggest sellers

JPMORGAN CHASE & CO Reduced -2,989,521-3.0m
BANK OF AMERICA CORP /DE/ Reduced -2,576,715-2.6m
FIL Ltd Reduced -2,261,820-2.3m
UBS Group AG Reduced -1,722,915-1.7m
Invesco Ltd. Reduced -1,492,278-1.5m
GOLDMAN SACHS GROUP INC Reduced -1,138,186-1.1m
Banco Santander, S.A. Reduced -957,954-958.0k
BARCLAYS PLC Reduced -900,746-900.7k
LAZARD ASSET MANAGEMENT LLC Reduced -515,836-515.8k
DEUTSCHE BANK AG\ Reduced -463,252-463.3k

Biggest calls

SIH Partners, LLLP Added $47.2m725.6k shares
GOLDMAN SACHS GROUP INC Added $16.0m245.7k shares
JPMORGAN CHASE & CO Reduced $2.4m39.2k shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $1.4m22.0k shares
CITADEL ADVISORS LLC New $956.2k14.7k shares
SIMPLEX TRADING, LLC New $884.7k13.6k shares
IMC-Chicago, LLC New $240.7k3.7k shares

Biggest puts

SIH Partners, LLLP Added $31.5m484.7k shares
UBS Group AG New $6.5m100.0k shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $3.4m52.1k shares
JPMORGAN CHASE & CO Reduced $1.4m22.9k shares
CITADEL ADVISORS LLC New $735.1k11.3k shares
GROUP ONE TRADING LLC Unchanged $130.1k2.0k shares
SIMPLEX TRADING, LLC New $65.0k1.0k 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.

Major shareholders (over 5%)

Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.

HolderStakeChangeShares Last filed
Rijn Capital SARL 13G · exempt (held before listing) filed 2026-07-29 22.3% 159.5m≈ $10.9bn 2026-07-29
del Pino Calvo-Sotelo Maria 13G · exempt (held before listing) filed 2025-11-13 8.8% 62.9m≈ $4.3bn 2025-11-13
BlackRock, Inc. 13G · institution new · filed 2026-10-27 5.0% new 36.8m≈ $2.5bn 2026-10-27

Insider purchases and sales in Q1 2026

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 Q1 2026.

Holders, Q1 2026

#ManagerLocationShares Value% of their portfolioChangeShares change
1 TCI FUND MANAGEMENT LTD 2.94% of their portfolio LONDON, X0 20,740,21420.7m $1.3bn $1.3bn 2.94% Unchanged
2 Invesco Ltd. 0.12% of their portfolio ATLANTA, GA 19,470,94419.5m $1.3bn $1.3bn 0.12% Reduced -1.5m -1,492,278
3 Amundi 0.27% of their portfolio Paris, I0 15,301,82015.3m $995.4m $995.4m 0.27% Added +4.4m +4,351,267
4 VANGUARD CAPITAL MANAGEMENT LLC 0.02% of their portfolio MALVERN, PA 14,086,17014.1m $916.4m $916.4m 0.02% First filing
5 LAZARD ASSET MANAGEMENT LLC 1.37% of their portfolio NEW YORK, NY 12,965,54713.0m $830.4m $830.4m 1.37% Reduced -515.8k -515,836
6 BANK OF AMERICA CORP /DE/ 0.05% of their portfolio CHARLOTTE, NC 10,654,88810.7m $693.1m $693.1m 0.05% Reduced -2.6m -2,576,715
7 Banco Santander, S.A. 4.71% of their portfolio Madrid, U3 8,720,4508.7m $584.4m $584.4m 4.71% Reduced -958.0k -957,954
8 FIL Ltd 0.38% of their portfolio HAMILTON, D0 7,608,7837.6m $495.0m $495.0m 0.38% Reduced -2.3m -2,261,820
9 FMR LLC 0.02% of their portfolio BOSTON, MA 7,053,1017.1m $458.8m $458.8m 0.02% Added +1.8m +1,838,305
10 BARCLAYS PLC 0.16% of their portfolio LONDON, X0 6,908,7566.9m $449.4m $449.4m 0.16% Reduced -900.7k -900,746
11 UBS Group AG 0.08% of their portfolio ZURICH, V8 6,697,0496.7m $435.6m $435.6m 0.08% Reduced -1.7m -1,722,915
12 Legal & General Group Plc 0.09% of their portfolio London, X0 6,246,8896.2m $399.0m $399.0m 0.09% Added +17.9k +17,919
13 CITIGROUP INC 0.24% of their portfolio NEW YORK, NY 5,980,9716.0m $381.9m $381.9m 0.24% Added +1.9m +1,863,652
14 VANGUARD FIDUCIARY TRUST CO 0.07% of their portfolio MALVERN, PA 4,154,7854.2m $270.3m $270.3m 0.07% First filing
15 DEUTSCHE BANK AG\ 0.09% of their portfolio FRANKFURT AM MAIN, 2M 4,066,8624.1m $264.5m $264.5m 0.09% Reduced -463.3k -463,252
16 JPMORGAN CHASE & CO 0.01% of their portfolio NEW YORK, NY 3,466,1733.5m $215.7m $215.7m 0.01% Reduced -3.0m -2,989,521
17 LANDESBANK BADEN-WUERTTEMBERG 42.07% of their portfolio STUTTGART BADEN-WUERTTEMBERG, 2M 3,250,0003.2m $206.1m $206.1m 42.07% Unchanged
18 Clearbridge Investments, LLC 0.18% of their portfolio NEW YORK, NY 3,153,6533.2m $205.1m $205.1m 0.18% Added +190.2k +190,209
19 BNP PARIBAS ASSET MANAGEMENT Holding S.A. 0.23% of their portfolio Paris, I0 3,128,0723.1m $200.4m $200.4m 0.23% Added +2.5m +2,516,095
20 CREDIT AGRICOLE S A 0.57% of their portfolio Montrouge Cedex, I0 2,685,1802.7m $174.7m $174.7m 0.57% Added +118.9k +118,942
21 Bank of Italy 7.67% of their portfolio ROME, L6 2,663,1982.7m $169.7m $169.7m 7.67% Unchanged
22 ANTIPODES PARTNERS Ltd 3.19% of their portfolio ROYAL EXCHANGE, C3 2,593,6682.6m $165.6m $165.6m 3.19% Added +187.2k +187,220
23 VANGUARD ASSET MANAGEMENT, Ltd 0.12% of their portfolio London, EC4N 8AF, X0 2,215,5022.2m $144.1m $144.1m 0.12% First filing
24 ARROWSTREET CAPITAL, LIMITED PARTNERSHIP 0.07% of their portfolio BOSTON, MA 2,102,0082.1m $135.2m $135.2m 0.07% Reduced -208.9k -208,942
25 Bank of New York Mellon Corp 0.02% of their portfolio NEW YORK, NY 1,839,2501.8m $119.6m $119.6m 0.02% Added +3.2k +3,193
26 Swiss National Bank 0.07% of their portfolio ZURICH, V8 1,778,4701.8m $113.6m $113.6m 0.07% Added +375.6k +375,590
27 THORNBURG INVESTMENT MANAGEMENT INC 1.16% of their portfolio SANTA FE, NM 1,739,3411.7m $111.6m $111.6m 1.16% Added +15.1k +15,113
28 DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main 0.10% of their portfolio FRANKFURT AM MAIN, 2M 1,735,3301.7m $110.8m $110.8m 0.10% Reduced -310.0k -310,014
29 GOLDMAN SACHS GROUP INC 0.01% of their portfolio NEW YORK, NY 1,683,2121.7m $109.5m $109.5m 0.01% Reduced -1.1m -1,138,186
30 DekaBank Deutsche Girozentrale 0.17% of their portfolio FRANKFURT, 2M 1,628,8561.6m $105.3m $105.3m 0.17% Added +10 +10
31 Nuveen, LLC 0.03% of their portfolio CHARLOTTE, NC 1,533,4341.5m $97.9m $97.9m 0.03% Added +243.4k +243,405
32 BlackRock, Inc. 0.00% of their portfolio New York, NY 1,478,4921.5m $96.2m $96.2m 0.00% Reduced -32.8k -32,779
33 1832 Asset Management L.P. 0.10% of their portfolio TORONTO, A6 1,173,2431.2m $76.3m $76.3m 0.10% Added +171.2k +171,157
34 Russell Investments Group, Ltd. 0.08% of their portfolio Seattle, WA 1,160,2581.2m $73.4m $73.4m 0.08% Added +206.0k +205,991
35 MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. 0.09% of their portfolio CAUSEWAY BAY, K3 1,094,3221.1m $64.5m $64.5m 0.09% Added +361.0k +361,022
36 J. Safra Sarasin Holding AG 1.17% of their portfolio BASEL, V8 1,074,6711.1m $68.6m $68.6m 1.17% Added +20.1k +20,101
37 ING GROEP NV 0.41% of their portfolio AMSTERDAM, P7 1,018,8101.0m $66.3m $66.3m 0.41% Added +2.5k +2,519
38 ProShare Advisors LLC 0.09% of their portfolio BETHESDA, MD 967,047967.0k $62.9m $62.9m 0.09% Reduced -227.7k -227,675
39 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 956,367956.4k $62.2m $62.2m 0.00% Reduced -240.2k -240,183
40 Fisher Asset Management, LLC 0.01% of their portfolio PLANO, TX 647,727647.7k $42.1m $42.1m 0.01% Added +55.9k +55,907
41 GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio BOSTON, MA 613,194613.2k $39.9m $39.9m 0.00% Reduced -873 -873
42 Maryland State Retirement & Pension System 0.77% of their portfolio BALTIMORE, MD 593,034593.0k $38.0m $38.0m 0.77% Added +39.7k +39,694
43 DNCA FINANCE 2.10% of their portfolio PARIS, I0 574,068574.1k $36.7m $36.7m 2.10% New
44 AVIVA PLC 0.06% of their portfolio LONDON, X0 567,805567.8k $36.2m $36.2m 0.06% Added +5.2k +5,177
45 M&G PLC 0.18% of their portfolio London, X0 561,513561.5k $35.7m $35.7m 0.18% Added +41.3k +41,323
46 ACADIAN ASSET MANAGEMENT LLC 0.05% of their portfolio Boston, MA 559,591559.6k $35.7m $35.7m 0.05% Added +244.4k +244,442
47 Allianz Asset Management GmbH 0.04% of their portfolio MUNICH, 2M 555,455555.5k $35.5m $35.5m 0.04% Added +45.6k +45,614
48 Exane Asset Management 7.19% of their portfolio PARIS, I0 551,407551.4k $35.2m $35.2m 7.19% Reduced -91.0k -91,024
49 Partners Group Holding AG 1.92% of their portfolio BAAR-ZUG, V8 538,084538.1k $25.9m $25.9m 1.92% Added +6.4k +6,365
50 Pictet Asset Management Holding SA 0.04% of their portfolio CAROUGE, V8 533,742533.7k $34.1m $34.1m 0.04% Added +15.1k +15,139
51 CANADA PENSION PLAN INVESTMENT BOARD 0.02% of their portfolio TORONTO ONTARIO, A6 504,214504.2k $32.3m $32.3m 0.02% Unchanged
52 Skye Global Management LP 0.66% of their portfolio WEST PALM BEACH, FL 472,000472.0k $30.7m $30.7m 0.66% Added +100.0k +100,000
53 NEUBERGER BERMAN GROUP LLC 0.02% of their portfolio NEW YORK, NY 454,994455.0k $29.1m $29.1m 0.02% Reduced -77.6k -77,646
54 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 437,010437.0k $28.4m $28.4m 0.00% Reduced -13.6k -13,645
55 BANK OF MONTREAL /CAN/ 0.01% of their portfolio TORONTO, A6 400,217400.2k $25.6m $25.6m 0.01% Reduced -38.6k -38,556
56 DUFF & PHELPS INVESTMENT MANAGEMENT CO 0.23% of their portfolio CHICAGO, IL 395,900395.9k $21.9m $21.9m 0.23% New
57 NEOS Investment Management LLC 0.13% of their portfolio Westport, CT 390,179390.2k $25.4m $25.4m 0.13% Added +156.8k +156,836
58 Thrivent Financial for Lutherans 0.05% of their portfolio Minneapolis, MN 375,349375.3k $24.0m $24.0m 0.05% Reduced -15.9k -15,918
59 Zurcher Kantonalbank (Zurich Cantonalbank) 0.05% of their portfolio ZURICH, V8 370,968371.0k $23.7m $23.7m 0.05% Added +19.4k +19,434
60 TD Asset Management Inc 0.02% of their portfolio Toronto, A6 351,628351.6k $22.6m $22.6m 0.02% Added +14.4k +14,423
61 Quantinno Capital Management LP 0.04% of their portfolio NEW YORK, NY 332,451332.5k $21.6m $21.6m 0.04% Added +76.9k +76,919
62 BNP PARIBAS FINANCIAL MARKETS 0.01% of their portfolio PARIS, I0 318,972319.0k $20.7m $20.7m 0.01% Reduced -388.9k -388,868
63 VICTORY CAPITAL MANAGEMENT INC 0.01% of their portfolio San Antonio, TX 311,011311.0k $20.2m $20.2m 0.01% Reduced -19.2k -19,234
64 JANUS HENDERSON GROUP PLC 0.01% of their portfolio LONDON, X0 296,257296.3k $18.9m $18.9m 0.01% Reduced -8.5k -8,467
65 Zurich Insurance Group Ltd/FI 0.15% of their portfolio ZURICH, V8 293,114293.1k $18.7m $18.7m 0.15% Reduced -99.7k -99,726
66 Public Sector Pension Investment Board 0.06% of their portfolio MONTREAL, A8 283,934283.9k $18.8m $18.8m 0.06% Added +14.3k +14,321
67 MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.01% of their portfolio Toronto, A6 265,066265.1k $16.8m $16.8m 0.01% Reduced -53.3k -53,275
68 Korea Investment CORP 0.03% of their portfolio SEOUL, M5 255,771255.8k $16.3m $16.3m 0.03% Reduced -7.2k -7,214
69 SG Americas Securities, LLC 0.02% of their portfolio NEW YORK, NY 249,529249.5k $16.2m $16.2m 0.02% Reduced -54.9k -54,925
70 TWO SIGMA INVESTMENTS, LP 0.01% of their portfolio NEW YORK, NY 246,692246.7k $16.0m $16.0m 0.01% Added +235.5k +235,533
71 Vanguard Investments Australia, Ltd. 0.05% of their portfolio Victoria, C3 241,330241.3k $15.7m $15.7m 0.05% First filing
72 Vontobel Holding Ltd. 0.05% of their portfolio ZURICH, V8 238,651238.7k $15.3m $15.3m 0.05% Added +167.1k +167,084
73 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 236,401236.4k $15.4m $15.4m 0.00% Reduced -14.7k -14,690
74 Lansforsakringar Fondforvaltning AB (publ) 0.07% of their portfolio Stockholm, V7 219,252219.3k $14.0m $14.0m 0.07% Added +5.2k +5,237
75 OCCUDO QUANTITATIVE STRATEGIES LP 0.80% of their portfolio FORT LAUDERDALE, FL 214,335214.3k $14.8m $14.8m 0.80% Added +88.9k +88,901
76 HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND 0.02% of their portfolio TORONTO, A6 206,854206.9k $13.5m $13.5m 0.02% Reduced -36.0k -36,017
77 71 West Capital Partners 0.58% of their portfolio BOSTON, MA 205,262205.3k $13.1m $13.1m 0.58% Added +12.9k +12,949
78 ASR Vermogensbeheer N.V. 0.15% of their portfolio UTRECHT, P7 204,423204.4k $13.1m $13.1m 0.15% Reduced -29.4k -29,428
79 Andra AP-fonden 0.13% of their portfolio GOTEBORG, V7 203,353203.4k $11.3m $11.3m 0.13% Added +151.0k +151,009
80 Vennlight Capital Management, LP 13.18% of their portfolio WESTON, CT 200,455200.5k $13.0m $13.0m 13.18% Added +84.6k +84,584
81 ABN AMRO Bank N.V. 0.13% of their portfolio AMSTERDAM, P7 190,769190.8k $12.3m $12.3m 0.13% Added +22.1k +22,120
82 Rafferty Asset Management, LLC 0.05% of their portfolio New York, NY 184,717184.7k $12.0m $12.0m 0.05% Reduced -38 -38
83 STATE OF WISCONSIN INVESTMENT BOARD 0.02% of their portfolio MADISON, WI 162,005162.0k $10.3m $10.3m 0.02% Reduced -17.9k -17,896
84 SEB Asset Management AB 0.04% of their portfolio STOCKHOLM, V7 159,407159.4k $10.2m $10.2m 0.04% First filing
85 FIRST TRUST ADVISORS LP 0.01% of their portfolio Wheaton, IL 159,316159.3k $10.3m $10.3m 0.01% Reduced -7.7k -7,670
86 Susquehanna Portfolio Strategies, LLC 0.15% of their portfolio Bala Cynwyd, PA 157,276157.3k $10.2m $10.2m 0.15% Reduced -27.2k -27,178
87 GF FUND MANAGEMENT CO. LTD. 0.16% of their portfolio GUANGZHOU, F4 150,367150.4k $9.8m $9.8m 0.16% Reduced -4.4k -4,407
88 Triasima Portfolio Management inc. 1.39% of their portfolio MONTREAL, A8 140,994141.0k $9.2m $9.2m 1.39% Added +13.5k +13,502
89 Vanguard Global Advisers, LLC 0.00% of their portfolio MALVERN, PA 133,643133.6k $8.7m $8.7m 0.00% First filing
90 MILLENNIUM MANAGEMENT LLC 0.01% of their portfolio NEW YORK, NY 133,290133.3k $8.7m $8.7m 0.01% Reduced -87.7k -87,725
91 CIBC Asset Management Inc 0.02% of their portfolio TORONTO, Z4 126,846126.8k $8.3m $8.3m 0.02% Reduced -6.9k -6,913
92 Squarepoint Ops LLC 0.02% of their portfolio NEW YORK, NY 126,723126.7k $8.2m $8.2m 0.02% New
93 Sumitomo Mitsui Trust Group, Inc. 0.01% of their portfolio CHIYODA-KU, TOKYO, M0 119,914119.9k $7.8m $7.8m 0.01% Reduced -8.1k -8,087
94 USS Investment Management Ltd 0.03% of their portfolio London, X0 112,797112.8k $7.2m $7.2m 0.03% Unchanged
95 Schonfeld Strategic Advisors LLC 0.06% of their portfolio NEW YORK, NY 110,944110.9k $7.2m $7.2m 0.06% Added +81.5k +81,538
96 PUBLIC EMPLOYEES RETIREMENT SYSTEM OF OHIO 0.02% of their portfolio COLUMBUS, OH 110,834110.8k $7.1m $7.1m 0.02% Reduced -389 -389
97 COOPER INVESTORS PTY LTD 2.77% of their portfolio MELBOURNE, VICTORIA, C3 104,382104.4k $6.8m $6.8m 2.77% Reduced -23.6k -23,559
98 MACKENZIE FINANCIAL CORP 0.01% of their portfolio TORONTO ONTARIO, A6 104,187104.2k $6.7m $6.7m 0.01% Added +7.7k +7,708
99 PRUDENTIAL PLC 0.05% of their portfolio LONDON, X0 102,541102.5k $6.6m $6.6m 0.05% Reduced -7.3k -7,270
100 ROYAL LONDON ASSET MANAGEMENT LTD 0.01% of their portfolio UNITED KINGDOM, X0 98,68498.7k $6.4m $6.4m 0.01% Reduced -8.1k -8,082