SEC Filing Summary: Form 13F Information Table
Business Context and Reporting Period
Company: BANCO BILBAO VIZCAYA ARGENTARIA, S.A. (BBVA)
Filing Type: Form 13F Information Table (Report of Holdings)
Reporting Period: The filing metadata indicates a date of March 31, 2026. However, the content provided is a standard Form 13F table listing equity holdings as of a specific quarter-end. The text does not explicitly state the specific quarter-end date within the table body, though the metadata suggests a future or projected date of March 31, 2026.
Context: This filing discloses the investment portfolio of BBVA, a major Spanish multinational financial services company, detailing its holdings in U.S. securities. It is a regulatory disclosure of assets under management or proprietary investment positions, not a financial performance report of BBVA itself.
Key Financial Metrics and Portfolio Composition
The filing does not contain revenue, profit, cash flow, or debt metrics for BBVA. Instead, it provides a snapshot of the value and quantity of securities held.
- Portfolio Scope: The table lists hundreds of individual equity positions, including common stocks, American Depositary Receipts (ADRs), and Exchange Traded Funds (ETFs).
- Top Holdings by Value (Selected):
- NVIDIA CORPORATION: 4,842,216 shares valued at approximately $837.1 million.
- SPDR S&P 500 ETF TRUST: 4,269,557 shares valued at approximately $2.74 billion.
- APPLE INC: 2,087,181 shares valued at approximately $528.8 million.
- ALPHABET INC (Class A): 1,266,078 shares valued at approximately $362.8 million.
- AMAZON.COM INC: 1,567,542 shares valued at approximately $324.9 million.
- Asset Classes: The portfolio is heavily weighted toward large-cap U.S. equities, with significant exposure to Technology (NVIDIA, Apple, Microsoft, Broadcom), Financials (JPMorgan, Bank of America, Visa), and broad market ETFs (SPDR S&P 500, iShares Core S&P 500).
- Voting Authority: The "Voting Authority" column indicates that for the vast majority of holdings, BBVA holds "Sole" discretion (denoted by "DFND" codes and "SOLE" in the voting column), meaning they have full control over voting rights for these shares.
Material Changes
Comparison Data Unavailable: This filing is a static snapshot of holdings at a single point in time. It does not include a comparative table from the prior quarter or year. Therefore, material changes in position size (buys or sells) versus the prior comparable period cannot be determined from this text alone.
Guidance, Outlook, and Risks
Management Commentary: None. Form 13F filings are purely data-driven disclosures of holdings and do not contain management discussion, guidance, or outlook.
Risks and Contingencies: The filing includes a standard SEC disclaimer stating that the Commission has not reviewed the information for accuracy. The primary risk inherent in this data is the concentration in specific sectors (notably Technology and Financials) and the reliance on the accuracy of the reported share counts and values.
Unusual Items: The portfolio includes significant holdings in cryptocurrency-related equities (e.g., Coinbase Global, Marathon Digital, Riot Platforms) and Bitcoin mining stocks, indicating a strategic exposure to the digital asset sector. Additionally, there are large positions in silver and gold ETFs (Aberdeen Silver ETF, SPDR Gold Shares), suggesting a hedge against inflation or currency risk.
Investor Verification Checklist
- Verify Reporting Date: Confirm the actual quarter-end date for this filing, as the metadata date (March 31, 2026) appears to be a future date or a placeholder, which is unusual for a standard historical filing.
- Confirm Total Portfolio Value: Sum the "Value" column to determine the total U.S. equity exposure reported in this specific table, noting that this may not represent the bank's entire global asset base.
- Check for Derivatives: Review the "Put/Call" column (Column 6). In this text, all entries appear to be "SH" (Shares) with no listed Put or Call options, indicating a long-only equity strategy for these specific holdings.
- Validate Top Concentrations: Verify the top 10 holdings to understand the primary drivers of the portfolio's performance and risk profile.
- Review Voting Rights: Confirm that the "Sole" voting authority aligns with the bank's investment mandate, as this implies direct control over corporate governance for these issuers.