BS
Banco Santander, S.A. 13F Filing (Q2 2026) — Top Positions & Stock Picks
Banco Santander, S.A.CIK: 0000891478
Diversified strategyMomentum followerSector-focused
Total reported value
$16.1B
Reporting period: 2026-06-30 · Number of holdings: 929
Banco Santander, S.A. disclosed 929 holdings in its latest 13F filing for the period ending 2026-06-30, with total reported value of $16.1B and a quarterly turnover rate of 40.2%.
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Personality snowflake
- Concentration
- 18.01
- Portfolio Stability
- 40.16
- Momentum
- 100
- Sector conviction
- 77.48
- Diversification
- 100
- Sizing Uniformity
- 53.04
Banco Santander, S.A.'s disclosed holdings carry a Herfindahl concentration index of 0.045 — mathematically equivalent to about 22 equally-sized positions, well below its 929 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes vary widely across the portfolio (a coefficient of variation of 4.70), with a handful of outsized bets alongside many smaller positions.
No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.
Sector classification currently covers about 64% of this portfolio's disclosed value; the remainder includes holdings (e.g. unmapped tickers, options, or other security types) not yet covered by our sector mapping.
Source and citation information
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Recent moves
View source Form 13F filing on SEC.govTrim BSBR
0.0% -$353.7M
Add MU
+98.7% $397.1M
Add NVDA
+74.2% $459.1M
Add AAPL
+65.0% $313.5M
Add META
+121.3% $208.0M
Add AVGO
+70.1% $159.8M
Holdings Map
New buyAddUnchangedTrim
Institutional Game-State Analysis
Core Intent
Banco Santander's Q2 2026 filing reads as an unambiguous accumulation quarter: every one of the eight largest moves was an active add, with NVIDIA lifted from 3.71% to 5.71% to become the top position and Micron scaled dramatically from 0.55% to 2.90%, while Apple, Microsoft, Meta, Alphabet, Amazon and Broadcom were all increased alongside. With 511 holdings and an HHI of just 0.045, single-name risk is thoroughly dispersed, yet Information Technology carries 46.19% of the book — breadth at the stock level, heavy concentration at the theme level. Turnover near 40% points to a moderately active rebalancing cadence.
Macro & Fundamentals
These flows line up with the market's capital rotation into AI compute, memory and mega-cap platform names; the outsized Micron build may indicate a constructive view on memory supply-demand, though on limited data this remains an inference rather than a confirmed causal claim.
Blind Spots / Risks
The vulnerability is factor-level crowding disguised by name-count diversification: nearly half the portfolio rides a single technology/AI complex, and NVDA, MU and AVGO alone exceed 10% combined — if the crowded AI trade unwinds, drawdowns would arrive through a common factor rather than idiosyncratic shocks. A mapped-value ratio of roughly 64% also leaves over a third of reported value unclassified, so true exposure may differ materially from these figures.
This narrative is produced by AI from this institution's Form 13F filings, as disclosed on SEC EDGAR, and describes past activity only. It is informational, not investment advice. View the original 2026-06-30 Form 13F filing on SEC.gov
Top 10 holdings by weight
Full holdings list this quarter
Showing top 200 holdings (of 929 total)
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | BSBR | Banco Santander Brasil-ads | Stock-Other | 16.99% | -7.89% | — | |
| 2 | MSFT | Microsoft CORP | Stock-Tech | 5.80% | +0.32% | +36.14% | |
| 3 | NVDA | Nvidia CORP | Stock-Tech | 5.71% | +2.00% | +74.20% | |
| 4 | ✓ | Ferrovial Se | Stock-Other | 4.19% | -0.52% | +12.54% | |
| 5 | AAPL | Apple Inc | Stock-Tech | 4.16% | +1.29% | +64.96% | |
| 6 | MU | Micron Technology Inc | Stock-Tech | 2.90% | +2.35% | +98.74% | |
| 7 | AMZN | Amazon.com Inc | Stock-Consumer Disc | 2.82% | +0.46% | +35.74% | |
| 8 | META | Meta Platforms Inc-class A | Stock-Comm Services | 2.39% | +0.97% | +121.29% | |
| 9 | TTE | TotalEnergies SE | Stock-Other | 2.36% | -0.70% | +15.30% | |
| 10 | GOOGL | Alphabet Inc-cl A | Stock-Comm Services | 2.33% | +0.66% | +45.75% | |
| 11 | AVGO | Broadcom Inc | Stock-Tech | 1.92% | +0.72% | +70.06% | |
| 12 | GOOG | Alphabet Inc-cl C | Stock-Comm Services | 1.37% | +0.09% | +12.71% | |
| 13 | GLD | Spdr Gold Shares | ETF-Commodities | 1.37% | -0.40% | +16.94% | |
| 14 | JPM | Jpmorgan Chase & Co | Stock-Financials | 1.34% | +0.10% | +25.70% | |
| 15 | RACE | Ferrari N.V. | Stock-Consumer Disc | 1.07% | -0.45% | -15.99% | |
| 16 | SPY | Ss Spdr S&p 500 ETF Trust-us | ETF-Large Cap & Growth | 0.98% | -0.26% | -10.61% | |
| 17 | LLY | Eli Lilly & Co | Stock-Healthcare | 0.89% | +0.03% | +3.12% | |
| 18 | CAT | Caterpillar Inc | Stock-Industrials | 0.89% | +0.20% | +10.54% | |
| 19 | VOO | Vanguard S&p 500 ETF | ETF-Large Cap & Growth | 0.87% | -0.14% | -3.18% | |
| 20 | DB | Deutsche Bank Aktiengesellschaft | Stock-Financials | 0.85% | +0.72% | +674.44% | |
| 21 | QQQM | Invesco Nasdaq 100 ETF | ETF-Tech | 0.84% | +0.07% | +11.03% | |
| 22 | AMAT | Applied Materials Inc | Stock-Tech | 0.83% | +0.68% | +238.86% | |
| 23 | C | Citigroup Inc | Stock-Financials | 0.80% | +0.18% | +35.63% | |
| 24 | MRVL | Marvell Technology Inc | Stock-Tech | 0.79% | +0.51% | +21.28% | |
| 25 | AMD | Advanced Micro Devices | Stock-Tech | 0.74% | +0.53% | +62.51% | |
| 26 | MS | Morgan Stanley | Stock-Financials | 0.71% | +0.16% | +31.04% | |
| 27 | IVV | Ishares Core S&p 500 ETF | ETF-Large Cap & Growth | 0.71% | +0.04% | +18.43% | |
| 28 | ORCL | Oracle CORP | Stock-Tech | 0.66% | +0.30% | +138.80% | |
| 29 | TSLA | Tesla Inc | Stock-Consumer Disc | 0.65% | +0.06% | +26.73% | |
| 30 | URTH | Ishares Msci World ETF | ETF-Other | 0.65% | +0.01% | +17.32% | |
| 31 | LRCX | Lam Research CORP | Stock-Tech | 0.61% | +0.15% | -14.88% | |
| 32 | BAC | Bank Of America CORP | Stock-Financials | 0.60% | +0.17% | +54.12% | |
| 33 | V | Visa Inc-class A Shares | Stock-Financials | 0.57% | -0.01% | +11.25% | |
| 34 | SNDK | Sandisk CORP | Stock-Tech | 0.56% | +0.56% | NEW | |
| 35 | KO | Coca-cola Co/the | Stock-Consumer Staples | 0.55% | -0.10% | +3.09% | |
| 36 | KLAC | Kla CORP | Stock-Tech | 0.53% | +0.52% | +22859.34% | |
| 37 | INTC | Intel CORP | Stock-Tech | 0.52% | +0.41% | +91.61% | |
| 38 | GS | Goldman Sachs Group Inc | Stock-Financials | 0.49% | +0.19% | +74.29% | |
| 39 | WDC | Western Digital CORP | Stock-Tech | 0.46% | +0.36% | +158.28% | |
| 40 | BRK-B | Berkshire Hathaway Inc-cl B | Stock-Other | 0.46% | +0.11% | +62.12% | |
| 41 | NFLX | Netflix Inc | Stock-Comm Services | 0.43% | -0.30% | +2.57% | |
| 42 | WMT | Walmart Inc | Stock-Consumer Staples | 0.40% | -0.20% | -5.17% | |
| 43 | BMY | Bristol-myers Squibb Co | Stock-Healthcare | 0.39% | -0.01% | +34.73% | |
| 44 | UNH | Unitedhealth Group Inc | Stock-Healthcare | 0.38% | +0.16% | +50.78% | |
| 45 | GEV | GE Vernova Inc | Stock-Industrials | 0.38% | +0.36% | +1883.93% | |
| 46 | QQQ | Invesco Qqq Trust Series 1 | ETF-Tech | 0.36% | +0.15% | +75.41% | |
| 47 | VRT | Vertiv Holdings Co-a | Stock-Industrials | 0.36% | +0.35% | +5558.53% | |
| 48 | VRTX | Vertex Pharmaceuticals Inc | Stock-Healthcare | 0.33% | -0.03% | +8.74% | |
| 49 | MA | Mastercard Inc - A | Stock-Financials | 0.33% | -0.14% | -10.48% | |
| 50 | XOM | Exxon Mobil CORP | Stock-Energy | 0.33% | -0.47% | -33.59% |
1–50 of 200
* This report is exclusively curated by the AlphaSMO team. AlphaSMO is the web's most authoritative 13F / Inside Trader database, delivering precise insider trading and institutional holdings insights.
Portfolio Performance
Performance for Q3 2026
+4%
Performance Last 4 Quarters
+20.2%
- Stdev
- +14.3%
- Beta
- +0.81
- Alpha
- -1.2%
- Max Drawdown
- -8.3%
- Annualized Perf
- +15%
- Batting Avg vs S&P
- +44.4%
- Sortino
- +2.14
- Stutzer
- +0.31
- Treynor
- +0.19
- Sterling
- +0.9
- Calmar
- +1.8
- Information Ratio
- -0.49
- Tracking Error
- +10%
- Stdev Down
- +7%
- Winning Months %
- +58.3%
- Losing Months %
- +41.7%
- Best 12 Months
- +29.8%
- Worst 12 Months
- -5.3%
- Efficiency Ratio
- +0.41
- Sharpe
- +1.05
- Stdev Sectors
- +12.3%
- Skewness
- +0.42
- Kurtosis
- +0.03
- Upside Potential
- +4.09
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
| Period | Holdings | Total value | Stability | Top holdings | |
|---|---|---|---|---|---|
| 2026 Q2 | 929 | $16.1B | 40 | ||
| 2026 Q1 | 901 | $12.4B | 26 | ||
| 2025 Q4 | 901 | $13.4B | 27 | ||
| 2025 Q3 | 948 | $11.3B | 100 | ||
| 2025 Q2 | 914 | $10.5B | 0 | ||
| 2025 Q1 | 915 | $9.1B | 100 | ||
| 2024 Q4 | 832 | $8.3B | 0 | ||
| 2024 Q3 | 853 | $8.5B | 0 | ||
| 2024 Q2 | 806 | $8.1B | 0 | ||
| 2024 Q1 | 779 | $8.3B | 0 | ||
| 2023 Q4 | 763 | $8.5B | 0 | ||
| 2023 Q3 | 763 | $7.1B | 0 | ||
| 2023 Q2 | 739 | $7.6B | 0 | ||
| 2023 Q1 | 646 | $6.7B | 0 | ||
| 2022 Q4 | 668 | $6.7B | 0 | ||
| 2022 Q3 | 676 | $7.5B | 0 | ||
| 2022 Q2 | 681 | $7.5B | 0 | ||
| 2022 Q1 | 719 | $9.3B | 0 | ||
| 2021 Q4 | 745 | $18.6B | 0 | ||
| 2021 Q3 | 740 | $18.6B | 0 | ||
| 2021 Q2 | 702 | $17.9B | 88 | ||
| 2021 Q1 | 681 | $14.2B | 23 | ||
| 2020 Q4 | 659 | $13.9B | 68 | ||
| 2020 Q3 | 629 | $7.6B | 17 | ||
| 2020 Q2 | 624 | $7.7B | 53 | ||
| 2020 Q1 | 683 | $8.7B | 62 | ||
| 2019 Q4 | 666 | $10.8B | 28 | ||
| 2019 Q3 | 650 | $10.3B | 28 | ||
| 2019 Q2 | 654 | $9.9B | 30 | ||
| 2019 Q1 | 588 | $8.9B | 33 | ||
| 2018 Q4 | 593 | $7.9B | 26 | ||
| 2018 Q3 | 604 | $8.8B | 22 | ||
| 2018 Q2 | 631 | $8.6B | 33 | ||
| 2018 Q1 | 657 | $8.5B | 61 | ||
| 2017 Q4 | 349 | $7.0B | 58 | ||
| 2017 Q3 | 349 | $6.1B | 53 | ||
| 2017 Q2 | 341 | $5.1B | 41 | ||
| 2017 Q1 | 311 | $3.9B | 16 | ||
| 2016 Q4 | 329 | $3.8B | 0 |
Holding changes this quarter
Banco Santander, S.A.'s most significant position changes for 2026-06-30: New buy: Sandisk CORP (SNDK); New buy: Ss Technology Select Sector (XLK); New buy: Ishares 10-20 Year Treasury (TLH); Sold out: Krispy Kreme Inc (DNUT); New buy: Republic Services Inc (RSG).
Showing top 200 changes by size (of 551 total)
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | MU | Micron Technology Inc | +2.4% | +98.74% | Add |
| 2 | NVDA | Nvidia CORP | +2% | +74.20% | Add |
| 3 | AAPL | Apple Inc | +1.3% | +64.96% | Add |
| 4 | META | Meta Platforms Inc-class A | +1% | +121.29% | Add |
| 5 | AVGO | Broadcom Inc | +0.7% | +70.06% | Add |
| 6 | DB | Deutsche Bank Aktiengesellschaft | +0.7% | +674.44% | Add |
| 7 | AMAT | Applied Materials Inc | +0.7% | +238.86% | Add |
| 8 | GOOGL | Alphabet Inc-cl A | +0.7% | +45.75% | Add |
| 9 | SNDK | Sandisk CORP | +0.6% | NEW | New buy |
| 10 | AMD | Advanced Micro Devices | +0.5% | +62.51% | Add |
| 11 | KLAC | Kla CORP | +0.5% | +22859.34% | Add |
| 12 | MRVL | Marvell Technology Inc | +0.5% | +21.28% | Add |
| 13 | AMZN | Amazon.com Inc | +0.5% | +35.74% | Add |
| 14 | INTC | Intel CORP | +0.4% | +91.61% | Add |
| 15 | WDC | Western Digital CORP | +0.4% | +158.28% | Add |
| 16 | GEV | GE Vernova Inc | +0.4% | +1883.93% | Add |
| 17 | VRT | Vertiv Holdings Co-a | +0.4% | +5558.53% | Add |
| 18 | MSFT | Microsoft CORP | +0.3% | +36.14% | Add |
| 19 | ORCL | Oracle CORP | +0.3% | +138.80% | Add |
| 20 | XLK | Ss Technology Select Sector | +0.2% | NEW | New buy |
| 21 | CAT | Caterpillar Inc | +0.2% | +10.54% | Add |
| 22 | GS | Goldman Sachs Group Inc | +0.2% | +74.29% | Add |
| 23 | C | Citigroup Inc | +0.2% | +35.63% | Add |
| 24 | BAC | Bank Of America CORP | +0.2% | +54.12% | Add |
| 25 | MS | Morgan Stanley | +0.2% | +31.04% | Add |
| 26 | UNH | Unitedhealth Group Inc | +0.2% | +50.78% | Add |
| 27 | TLH | Ishares 10-20 Year Treasury | +0.2% | NEW | New buy |
| 28 | LRCX | Lam Research CORP | +0.2% | -14.88% | Trim |
| 29 | QQQ | Invesco Qqq Trust Series 1 | +0.2% | +75.41% | Add |
| 30 | IEMG | Ishares Core Msci Emerging | +0.1% | +423.09% | Add |
| 31 | CMG | Chipotle Mexican Grill Inc | +0.1% | +2934.74% | Add |
| 32 | RSG | Republic Services Inc | +0.1% | NEW | New buy |
| 33 | BRK-B | Berkshire Hathaway Inc-cl B | +0.1% | +62.12% | Add |
| 34 | DDOG | Datadog Inc - Class A | +0.1% | -2.53% | Trim |
| 35 | JPM | Jpmorgan Chase & Co | +0.1% | +25.70% | Add |
| 36 | FCX | Freeport-mcmoran Inc | +0.1% | +108.48% | Add |
| 37 | AIA | Ishares Asia 50 ETF | +0.1% | NEW | New buy |
| 38 | GOOG | Alphabet Inc-cl C | +0.1% | +12.71% | Add |
| 39 | TSCO | Tractor Supply Company | +0.1% | NEW | New buy |
| 40 | IP | International Paper Co | +0.1% | NEW | New buy |
| 41 | IREN | IREN Limited | +0.1% | +47.97% | Add |
| 42 | PANW | Palo Alto Networks Inc | +0.1% | -1.67% | Trim |
| 43 | ✓ | +0.1% | NEW | New buy | |
| 44 | QQQM | Invesco Nasdaq 100 ETF | +0.1% | +11.03% | Add |
| 45 | SPAB | Ss Spdr P Agg Bond ETF | +0.1% | +73.69% | Add |
| 46 | AMKR | Amkor Technology Inc | +0.1% | NEW | New buy |
| 47 | TSLA | Tesla Inc | +0.1% | +26.73% | Add |
| 48 | SCHW | Schwab (charles) CORP | +0.1% | +71.74% | Add |
| 49 | NU | Nu Holdings Ltd. | +0.1% | +119.31% | Add |
| 50 | IXG | Ishares Global Financials Et | +0.1% | +119.57% | Add |
1–50 of 200
Filing History
FAQ
What is Banco Santander, S.A. and what type of investor is it?
Banco Santander, S.A. is an investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2026-06-30), the firm manages a tracked equity portfolio valued at approximately $16.1B, spread across 929 disclosed positions.
What are Banco Santander, S.A.'s largest equity positions?
Based on the latest 13F filing, Banco Santander, S.A.'s top holdings by market value are:
1. Banco Santander Brasil-ads (BSBR) — $2.7B (17.0%)
2. Microsoft CORP (MSFT) — $932.6M (5.8%)
3. Nvidia CORP (NVDA) — $918.8M (5.7%)
4. Ferrovial Se — $673.3M (4.2%)
5. Apple Inc (AAPL) — $669.5M (4.2%)
What changes did Banco Santander, S.A. make in its most recent portfolio filing?
In the latest reported quarter, Banco Santander, S.A. made 198 notable position adjustments: 23 new positions were initiated, 104 existing holdings were added to, 66 positions were partially reduced, and 5 were completely exited. The largest of these moves: New buy: Sandisk CORP (SNDK); New buy: Ss Technology Select Sector (XLK); New buy: Ishares 10-20 Year Treasury (TLH); Sold out: Krispy Kreme Inc (DNUT); New buy: Republic Services Inc (RSG)
What sectors does Banco Santander, S.A. focus on?
Banco Santander, S.A. is concentrated in the following sectors based on its current disclosed equity portfolio:
• Information Technology: 46.2%
• Financials: 11.0%
• Communication Services: 10.8%
• Consumer Discretionary: 9.7%
• Industrials: 7.3%
• Health Care: 6.7%
Investment Profile
Banco Santander, S.A. returned an annualized 15.0% over the trailing 36 months — underperforming the S&P 500 by 1.2 points — based on a reconstructed track record of its disclosed 13F positions, with a beta of 0.81 (less volatile than the market) and a 44% quarterly batting average against the index.
Its portfolio is broadly diversified and moderately active, with 46.2% of the portfolio concentrated in Information Technology.
Its turnover score has risen from 0 to 40 over the past 4 quarters — a shift toward more active trading.
It has added to its MSFT position over the past two quarters (+$432.2M, now $932.6M), while trimming BSBR over the same stretch (-$447.4M, still holding $2.7B).
Peer Institutions
Institutions with a similar AUM
BB
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CIK 0000842180
Total reported value
$16.1B
733 stks
2026-06-30
Concentration15.1
Portfolio Stability28.9
Sector conviction82.3
AUM within 0.1% of this institution
View detail
PA
Park Avenue Securities LLC
CIK 0001071640
Total reported value
$16.0B
1,776 stks
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Concentration6.3
Portfolio Stability36.5
Sector conviction55.1
AUM within 0.4% of this institution
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BC
BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp
CIK 0001228242
Total reported value
$16.0B
663 stks
2026-06-30
Concentration5.3
Portfolio Stability38.5
Sector conviction46.2
AUM within 0.7% of this institution
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Developer Access
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REST API
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