Stock Analysis
Data Source: SEC EDGAR 13F
Updated Hourly

Banco Santander SA (SAN)

621 + Investors. Track Smart Money conviction in SAN. See who's accumulating, reducing, or initiating positions.

Current Price
-- USD
Analyst Target
-- (0 analysts)
Upside
0.00%
Net Flow Q/Q
↑ +52
Streak
11Q ▲
Buyers last Q
61%

Smart Money Signals — SAN

Based on 631 hedge funds · latest filing: 2026 Q1 · updated quarterly

📈

Buying streak — 11 quarters in a row

last 6Q
For 11 consecutive quarters, more hedge funds added SAN than sold it. That's a consistent pattern of professional buying — not a one-time trade. When institutions keep buying quarter after quarter, it usually means they see a multi-year opportunity, not just a short-term momentum flip.
🏔️

At the ownership peak (100% of max)

100% of all-time peak
631 hedge funds hold SAN right now — the highest count in 3.0 years. When ownership is this concentrated, any bad news can trigger a chain reaction: one big fund sells, others follow. This is a classic 'crowded trade' — high popularity doesn't equal safety.
🚀

Fast accumulation — +53% more funds vs a year ago

fund count last 6Q
+218 new funds entered over the past year (+53% YoY). That's a rapid rush of institutional money. Fast accumulation often signals a major thesis — but it also means the stock could fall quickly if that thesis breaks.
🟢

More buyers than sellers — 61% buying

373 buying240 selling
Last quarter: 373 funds were net buyers (119 opened a brand new position + 254 added to an existing one). Only 240 were sellers (173 trimmed + 67 sold completely). A clear majority buying is a strong confirmation signal.
📈

More new buyers each quarter (+7 vs last Q)

new funds entering per quarter
Funds opening a new SAN position: 94 → 105 → 112 → 119. A growing influx of new institutional buyers means the asset is still gathering momentum — the consensus hasn't fully saturated yet.
🔒

49% of holders stayed for 2+ years

■ 49% conviction (2yr+) ■ 22% medium ■ 30% new
307 out of 631 hedge funds have held SAN for over 2 years without selling. Long-term investors are generally harder to shake out during market stress, creating a stable ownership base that limits the risk of sudden capitulation.
📈

Growing discovery — still being found

65 → 94 → 105 → 112 → 119 new funds/Q
New funds entering each quarter: 94 → 105 → 112 → 119. A growing number of institutions are discovering SAN each quarter. The narrative is still spreading — leaving room for ongoing capital accumulation.
🏛️

Veteran-anchored — 56% veterans vs 35% newcomers

■ 56% veterans ■ 8% 1-2yr ■ 35% new
Entry-cohort mix of 639 holders: 360 (56%) are 2+ year veterans, 54 entered 1–2 years ago, and 225 (35%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
🏆

Elite ownership — 69% AUM from top-100 funds

69% from top-100 AUM funds
43 of 628 holders are among the 100 largest funds by AUM, controlling 69% of total institutional value in SAN. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.
4.4
out of 10
Moderate Exit Risk
Exit risk score 4.4/10 — some crowding factors present, but no critical concentration. Watch ownership trend over the next 1–2 quarters for direction.

Methodology note: these Smart Money cards use consecutive 13F disclosure snapshots, not trade-by-trade execution data. "Buying", "selling", "new holders", and "trimmed" refer to quarter-over-quarter changes in reported holders, aggregate shares, or disclosed position values between filings. They are useful for ownership regime analysis and crowding, but they do not imply exact trade timing on the filing date.

Institutional Sentiment Summary — SAN

In 2026 Q1, 373 hedge funds were net buyers of SAN (119 opened a new position, 254 added to an existing one), while 240 reduced or exited (173 trimmed, 67 sold completely) — a 61% buyer ratio, indicating clear institutional accumulation. This marks 11 consecutive quarters of net institutional buying — a persistent conviction signal. 69% of total institutional value in SAN is held by top-100 AUM funds, reflecting elite-tier ownership quality. Net fund flow last quarter: +52 funds (more new holders than closures). Total institutional holders: 631.

Hedge Fund Ownership: SAN

How many hedge funds hold SAN — quarterly history vs. share price
Quarterly hedge fund ownership of SAN vs. share price

Market Analysis: SAN

Analyst Price Targets

Avg. Price Target
--

Analyst Recommendations

Stock Performance

Real-time

Company Profile: SAN

-- --

Institutional ownership data sourced from SEC EDGAR Form 13F-HR filings.

Is It Too Late to Buy Banco Santander SA (SAN) Based on Hedge Fund 13F Filings?

Signal Freshness measures how much SAN has moved relative to its sector benchmark (XLF) since the 2026 Q1 13F filing. A stock that has barely outrun its sector is still a relatively fresh entry point — the fund's thesis has not yet been priced in by the broader market.

Since Quarter End March 31, 2026 · 81d ago
SAN
+19.7%
XLF
+8.5%

SAN outperformed XLF by +11.2% since March 31, 2026.

Since 13F Filing Date May 15, 2026 · 36d ago
SAN
+15.0%
XLF
+4.8%

Since the filing became public, SAN outperformed XLF by +10.2% .

Interpretation: The stock has meaningfully outrun its sector. The trade has partially played out; entry is at a premium to the fund's implied reference. Learn more →

Smart Money Signal ?
Limited Smart Money Interest

No strong consensus or elite conviction detected among institutional holders.

28 top-rated funds 2 high-conviction
Consensus
6.3
/ 10
breadth
×
Elite
2.8
/ 10
conviction
Hedge Fund Positioning: SAN
621 + Investors

Track Smart Money conviction in SAN. See who's accumulating, reducing, or initiating positions.

Metric All 13F Filers (2026 Q1) Prior (2025 Q4) Change
Funds Holding 621 579 7.25%
13F Shares 488M 453M 7.69%
Total Value $5.39B $5.27B 2.16%
New Positions 113 112 +1
Increased Positions 251 279 -28
Closed Positions 71 42 +29
Reduced Positions 169 119 +50
Total Calls 5 4 25.0%
Total Puts 6 4 50.0%
PUT/CALL Ratio 1.2 1.0 Neutral

Statistics: SAN

View More

Valuation Measures Data as of: --

Market Cap --
Enterprise Value --
Trailing P/E --
Forward P/E --
PEG Ratio (5yr expected) --
Price/Sales (ttm) --
Price/Book (mrq) --
Enterprise Value/Revenue --
Enterprise Value/EBITDA --
Beta (5Y Monthly) --
Short Ratio (Days to Cover) --
Short % of Float --

Financial Highlights

Profitability
Profit Margin --
Return on Assets (ttm) --
Return on Equity (ttm) --
Income Statement & Cash Flow
Revenue (ttm) --
Net Income Avi to Common (ttm) --
Diluted EPS (ttm) --
Total Cash (mrq) --
Total Debt/Equity (mrq) --
Levered Free Cash Flow (ttm) --

Institutional Holders (2026 Q1)

621 + investors

Explore institutional interest and hedge fund ownership dynamics. Analyze portfolio weights, new positions, and conviction trends in SAN. Verified SEC 13F-HR filings.

QUARTER:
Top 25 SAN holders by conviction (% of portfolio weight) — 2026 Q1 · Source: SEC Form 13F
# Investor % of Portfolio Shares Mkt Value
1 Bain Capital Public Equity, LP 5.55% 88,308 $996K
2 Mondrian Investment Partners LTD 3.77% 22,332,642 $251.9M
3 Steamboat Capital Partners, LLC 2.52% 900,000 $10.2M
4 Arlington Capital Management, Inc. 2.15% 338,496 $3.8M
5 Integrated Quantitative Investments LLC 1.62% 790,360 $8.9M
6 Todd Asset Management LLC 1.45% 6,548,293 $73.9M
7 Wilkinson Global Asset Management LLC 1.41% 1,642,260 $18.5M
8 American Trust Investment Advisors, LLC 1.34% 215,580 $2.4M
9 Marietta Investment Partners LLC 1.18% 520,774 $5.9M
10 Burkett Asset Management Ltd 1.13% 101,875 $1.1M
11 Barometer Capital Management INC. 0.83% 216,600 $2.4M
12 Raelipskie Partnership 0.82% 172,236 $1.9M
13 JMN Financial LLC 0.76% 68,146 $769K
14 CacheTech Inc. 0.64% 293,432 $3.3M
15 Themes Management Co LLC 0.61% 88,215 $995K
16 Adams Wealth Management 0.61% 244,463 $2.8M
17 Myriad Asset Management Advisors LLC 0.60% 179,100 $2.0M
18 Compass Rose Asset Management, LP 0.54% 635,000 $7.2M
19 Orca Wealth Management, LLC 0.53% 65,760 $742K
20 Myriad Asset Management US LP 0.51% 30,208 $341K
21 Naviter Wealth, LLC 0.48% 343,675 $3.9M
22 Clark Capital Management Group, Inc. 0.47% 6,704,499 $75.6M
23 Chevy Chase Trust Holdings, LLC 0.45% 13,815,641 $155.8M
24 Mitchell Capital Management Co 0.39% 186,976 $2.1M
25 One68 Global Capital, LLC 0.36% 10,000 $111K
Investor Ownership
History 		% of Portfolio Prev % Rank Conviction Avg Buy Price 13F Score™ 3Y / 7Y Sell Timing Shares Mkt Value Change Change % Source Quarter Filed

Frequently Asked Questions — Banco Santander SA (SAN)

What does the Smart Money Trend signal show for SAN?

Buying streak — 11 quarters in a row: For 11 consecutive quarters, more hedge funds added SAN than sold it. That's a consistent pattern of professional buying — not a one-time trade. When institutions keep buying quarter after quarter, it usually means they see a multi-year opportunity, not just a short-term momentum flip.

What is the institutional breadth score for SAN?

More buyers than sellers — 61% buying: Last quarter: 373 funds were net buyers (119 opened a brand new position + 254 added to an existing one). Only 240 were sellers (173 trimmed + 67 sold completely). A clear majority buying is a strong confirmation signal.

What is the fund quality score for SAN holders?

Elite ownership — 69% AUM from top-100 funds: 43 of 628 holders are among the 100 largest funds by AUM, controlling 69% of total institutional value in SAN. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.

How long have hedge funds held SAN?

49% of holders stayed for 2+ years: 307 out of 631 hedge funds have held SAN for over 2 years without selling. Long-term investors are generally harder to shake out during market stress, creating a stable ownership base that limits the risk of sudden capitulation.

Is it too late to buy Banco Santander SA (SAN) following the 2026 Q1 hedge fund 13F filings?

As of today, SAN has moved +15.0% since the 2026 Q1 13F filing date (May 15, 2026), compared to +4.8% for the XLF sector ETF — an outperformance of +10.2%. Since the quarter end (March 31, 2026), SAN has gained +19.7% vs +8.5% for XLF. The stock has meaningfully outrun its sector. The trade has partially played out; entry is at a premium to the fund's implied reference.

Where does this institutional ownership data come from?

All holdings data is sourced from SEC Form 13F filings, which institutional investment managers with over $100 million in assets are required to submit quarterly. Data is parsed directly from SEC EDGAR.

Disclaimer: The information on this page is for informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any security. Institutional holdings data is sourced from SEC Form 13F filings and reflects positions as of the filing date. Past performance of any fund or portfolio is not indicative of future results. 13Foresight is not a registered investment adviser. Always conduct your own due diligence before making investment decisions.

Full history →