Capital Research discloses 3.1% stake in BBVA (181.1M shares)

Rhea-AI Filing Summary

Capital Research Global Investors reported beneficial ownership of 181,099,527 shares of Banco Bilbao Vizcaya Argentaria (BBVA), representing 3.1% of the 5,763,285,465 shares the filer believes to be outstanding. The filing shows sole voting power over 180,746,617 shares and sole dispositive power over 181,099,527 shares. The reported holdings include 353,005 Depository Receipts that represent common stock. The filing identifies CRGI as a division of Capital Research and Management Company and related investment management affiliates, and it certifies the securities were acquired and are held in the ordinary course of business and not for the purpose of changing control.

Positive

• Full disclosure of beneficial ownership: CRGI reports 181,099,527 shares, clearly stating amounts and powers.
• Certification of passive intent: Filing states holdings were acquired and are held in the ordinary course and not to influence control.
• Detailed voting/dispositive breakdown: Sole voting power of 180,746,617 and sole dispositive power of 181,099,527 are provided.

Negative

• None.

Insights

Securities Analyst

TL;DR: CRGI holds a meaningful passive stake in BBVA but remains below the 5% reporting threshold for activist intent.

The Schedule 13G/A discloses that Capital Research Global Investors beneficially owns 181,099,527 BBVA shares (3.1%). The filer reports near-complete sole voting and dispositive authority over these shares, which indicates consolidated investment control within the reporting entity. The filing is submitted under the passive-investor Schedule 13G framework and includes a certification that the position is held in the ordinary course of business and not to influence control. For investors, this represents transparent disclosure of a sizeable passive stake but no indication of a change in governance or control strategy.

Corporate Governance Expert

TL;DR: Ownership is material enough to monitor but the filing signals passive intent and no immediate governance action.

CRGI's 3.1% holding of BBVA, with sole voting power stated for 180,746,617 shares, is fully disclosed and categorized under the requirements for passive investors. The inclusion of 353,005 Depository Receipts is explicitly noted. The certification language affirms the position was not acquired to change or influence control. From a governance perspective, this filing documents a significant institutional stake while confirming the filer does not assert an activist objective in this submission.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 1)

Banco Bilbao Vizcaya Argentaria, SA

(Name of Issuer)

Common Stock

(Title of Class of Securities)

E11805103

(CUSIP Number)

06/30/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. E11805103

1

Names of Reporting Persons

Capital Research Global Investors

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 180,746,617.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 181,099,527.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

181,099,527.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

3.1 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Banco Bilbao Vizcaya Argentaria, SA
(b)	Address of issuer's principal executive offices: CALLE AZUL 4, Madrid 28050, Spain
Item 2.
(a)	Name of person filing: Capital Research Global Investors
(b)	Address or principal business office or, if none, residence: 333 South Hope Street, 55th Fl, Los Angeles, CA 90071
(c)	Citizenship: N/A
(d)	Title of class of securities: Common Stock
(e)	CUSIP No.: E11805103
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 181,099,527 ** **Capital Research Global Investors ("CRGI") is a division of Capital Research and Management Company ("CRMC"), as well as its investment management subsidiaries and affiliates Capital Bank and Trust Company, Capital International, Inc., Capital International Limited, Capital International Sarl, Capital International K.K., Capital Group Private Client Services, Inc., and Capital Group Investment Management Private Limited (together with CRMC, the "investment management entities"). CRGI's divisions of each of the investment management entities collectively provide investment management services under the name "Capital Research Global Investors." CRGI is deemed to be the beneficial owner of 181,099,527 shares or 3.1% of the 5,763,285,465 shares believed to be outstanding. Shares reported include 353,005 Depository Receipts, which represent 353,005 Common Stock.
(b)	Percent of class: 3.1 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 180,746,617
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 181,099,527
	(iv) Shared power to dispose or to direct the disposition of: 0
Item 5.	Ownership of 5 Percent or Less of a Class.
	Ownership of 5 percent or less of a class
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Capital Research Global Investors

Signature:	Jae Won Chung
Name/Title:	Vice President and Senior Counsel II, Capital Research and Management Company
Date:	08/05/2025

FAQ

How many BBVA shares does Capital Research Global Investors own?

Capital Research Global Investors beneficially owns 181,099,527 BBVA shares, representing 3.1% of shares outstanding.

What voting and dispositive powers does CRGI report for BBVA (BBVA)?

The filing reports sole voting power for 180,746,617 shares and sole dispositive power for 181,099,527 shares.

Does the Schedule 13G/A indicate CRGI intends to influence BBVA's control?

No. The filing includes a certification that the securities were acquired and are held in the ordinary course of business and not to change or influence control.

What percent of BBVA is represented by the reported shares?

The reported stake equals 3.1% of BBVA's class of common stock, based on 5,763,285,465 shares believed outstanding.

Does the filing list any affiliates or related entities for CRGI?

Yes. The filing states CRGI is a division of Capital Research and Management Company and includes related investment management subsidiaries and affiliates by name.