Murray Stahl's SAN Position Overview
Murray Stahl (via Horizon Kinetics Asset Management LLC) currently holds 65,060 shares of Banco Santander, S.A. (SAN) worth $763,153, representing 0.01% of the portfolio. First purchased in 2013-Q2, this long-term strategic position has been held for 51 quarters.
Based on 13F filings since 2013, Murray Stahl has maintained a long-term strategic position in SAN, representing a significant commitment to this investment thesis. Largest addition occurred in Q3 2024, adding 193,767 shares. Largest reduction occurred in Q3 2025, reducing 189,167 shares.
Analysis based on 13F filings available since 2013 Q2
Murray Stahl's Banco Santander (SAN) Holding Value Over Time
Track share changes against reported price movement
Quarterly Banco Santander (SAN) Trades by Murray Stahl
| Report Date | Bought/Sold (Sh.) | % Change | Qtr. End Shares | Reported Price |
|---|---|---|---|---|
| Q4 2025 | -33 | Reduce 0.05% | 65,060 | $11.73 |
| Q3 2025 | -189,167 | Reduce 74.40% | 65,093 | $10.48 |
| Q2 2025 | +3,750 | Add 1.50% | 254,260 | $8.30 |
| Q1 2025 | +333 | Add 0.13% | 250,510 | $6.70 |
| Q4 2024 | +15,000 | Add 6.38% | 250,177 | $4.56 |
| Q3 2024 | +193,767 | Add 467.92% | 235,177 | $5.10 |
| Q4 2023 | -1,000 | Reduce 2.36% | 41,410 | $4.14 |
| Q1 2023 | +18,750 | Add 79.25% | 42,410 | $3.69 |
| Q4 2022 | +750 | Add 3.27% | 23,660 | $2.95 |
| Q4 2021 | -19,169 | Reduce 45.55% | 22,910 | $3.27 |
| Q2 2021 | +3,000 | Add 7.68% | 42,079 | $3.92 |
| Q1 2021 | +2,000 | Add 5.39% | 39,079 | $3.43 |
| Q4 2020 | +8,600 | Add 30.20% | 37,079 | $3.05 |
| Q3 2020 | -29,554 | Reduce 50.93% | 28,479 | $1.86 |
| Q2 2020 | -45,940 | Reduce 44.18% | 58,033 | $2.41 |
| Q1 2020 | -10,551 | Reduce 9.21% | 103,973 | $2.35 |
| Q4 2019 | -36,952 | Reduce 24.39% | 114,524 | $4.14 |
| Q3 2019 | -87 | Reduce 0.06% | 151,476 | $4.02 |
| Q2 2019 | -5,650 | Reduce 3.59% | 151,563 | $4.58 |
| Q1 2019 | +9,300 | Add 6.29% | 157,213 | $4.63 |
| Q4 2018 | +1,550 | Add 1.06% | 147,913 | $4.48 |
| Q3 2018 | +2,500 | Add 1.74% | 146,363 | $5.00 |
| Q2 2018 | +800 | Add 0.56% | 143,863 | $5.34 |
| Q1 2018 | -3,689 | Reduce 2.51% | 143,063 | $6.55 |
| Q4 2017 | +2,596 | Add 1.80% | 146,752 | $6.54 |
| Q3 2017 | -2,000 | Reduce 1.37% | 144,156 | $6.94 |
| Q2 2017 | -80 | Reduce 0.05% | 146,156 | $6.69 |
| Q1 2017 | -145 | Reduce 0.10% | 146,236 | $6.07 |
| Q4 2016 | -24,175 | Reduce 14.17% | 146,381 | $5.18 |
| Q3 2016 | -583 | Reduce 0.34% | 170,556 | $4.41 |
| Q2 2016 | +55,100 | Add 47.48% | 171,139 | $3.92 |
| Q1 2016 | +13,300 | Add 12.95% | 116,039 | $4.36 |
| Q4 2015 | +27,606 | Add 36.74% | 102,739 | $4.87 |
| Q3 2015 | +2,700 | Add 3.73% | 75,133 | $5.28 |
| Q2 2015 | +16,143 | Add 28.68% | 72,433 | $7.01 |
| Q1 2015 | +9,602 | Add 20.57% | 56,290 | $7.44 |
| Q4 2014 | +138 | Add 0.30% | 46,688 | $8.33 |
| Q3 2014 | +926 | Add 2.03% | 46,550 | $9.50 |
| Q2 2014 | +3,295 | Add 7.78% | 45,624 | $10.41 |
| Q1 2014 | +10,251 | Add 31.96% | 42,329 | $9.59 |
| Q4 2013 | +9,828 | Add 44.17% | 32,078 | $8.85 |
| Q3 2013 | +11,024 | Add 98.20% | 22,250 | $7.82 |
| Q2 2013 | +11,227 | Add 0.00% | 11,226 | $6.15 |
Murray Stahl's Banco Santander Investment FAQs
Murray Stahl first purchased Banco Santander, S.A. (SAN) in Q2 2013, acquiring 11,226 shares, as reported in their 13F filing for that period. Note: Analysis reflects filings available since Q2 2013; earlier records may be incomplete.
Murray Stahl has held Banco Santander, S.A. (SAN) for 51 quarters since Q2 2013.
Murray Stahl's largest addition to Banco Santander, S.A. (SAN) was in Q3 2024, adding 235,177 shares worth $1.2 M.
According to the latest 13F filing for Q4 2025, Murray Stahl's firm, Horizon Kinetics Asset Management LLC, owns 65,060 shares of Banco Santander, S.A. (SAN), valued at approximately $763,153.
As of the Q4 2025 filing, Banco Santander, S.A. (SAN) represents approximately 0.01% of Murray Stahl's publicly disclosed stock portfolio, making it one of their key holdings.
Murray Stahl's peak holding in Banco Santander, S.A. (SAN) was 254,260 shares, as reported at the end of Q2 2025.