Brandes reports 24.31% stake in Grifols (NASDAQ: GRFS) in Schedule 13G/A

Rhea-AI Filing Summary

Brandes Investment Partners reports beneficial ownership of Grifols Class B shares totaling 27,220,179 ORD and 36,343,419 ADRs, representing 24.31% of the class as of 03/31/2026.

The amendment (Amendment No. 6) to the Schedule 13G/A updates the registrant's holdings and shows shared dispositive power over those shares. The filing is signed by an Executive Director on 05/06/2026.

Insights

Institutional Ownership Analyst

Brandes holds a sizeable, disclosed stake of 24.31% in Grifols as of 03/31/2026.

Brandes Investment Partners reports beneficial ownership of 27,220,179 ORD and 36,343,419 ADRs, with shared dispositive power. The Schedule 13G/A amendment formalizes its position and ownership percentage.

Timing: the ownership is reported as of 03/31/2026 and the amendment was signed 05/06/2026. Subsequent filings would disclose any change to this position.

Corporate Governance Specialist

The filing documents shared dispositive power rather than sole voting or dispositive authority.

The statement shows zero sole voting and dispositive power and lists only shared dispositive power for the reported holdings, indicating collective control or management of disposition decisions.

Disclosure implications: this ownership level requires continued public reporting; any shift in voting power or plans to change holdings should appear in future amendments.

Key Figures

ORD beneficially owned: 27,220,179 shares ADRs beneficially owned: 36,343,419 ADRs Percent of class: 24.31%

3 metrics

ORD beneficially owned 27,220,179 shares Class B ORD as of 03/31/2026

ADRs beneficially owned 36,343,419 ADRs Class B ADRs as reported in the amendment

Percent of class 24.31% Ownership percentage as of 03/31/2026

Key Terms

ORD, ADR, Beneficially owned, Shared dispositive power

4 terms

ORD financial

"Amount beneficially owned: 27,220,179 ORDs and 36,343,419 ADRs"

ADR financial

"Amount beneficially owned: 27,220,179 ORDs and 36,343,419 ADRs"

An American Depositary Receipt (ADR) is a financial certificate that lets investors buy shares of a foreign company through U.S. stock markets, similar to buying a local wrapper that represents the underlying foreign shares. ADRs matter because they make investing in overseas companies easier and more liquid by trading in U.S. dollars and under U.S. market rules, while still carrying currency, regulatory, and country-specific risks that can affect share value.

Beneficially owned regulatory

"Ownership (a) Amount beneficially owned: 27,220,179"

Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.

Shared dispositive power regulatory

"Shared power to dispose or to direct the disposition of: 27,220,179"

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 6)

Grifols SA

(Name of Issuer)

Class B shares

(Title of Class of Securities)

398438408

(CUSIP Number)

03/31/2026

(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)

schemaVersion:

SCHEDULE 13G

CUSIP Number(s): 398438408

1

Names of Reporting Persons

BRANDES INVESTMENT PARTNERS, LP

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 0.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 27,220,179.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

27,220,179.00

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)

24.3 %

12

Type of Reporting Person (See Instructions)

IA, PN

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Grifols SA
(b)	Address of issuer's principal executive offices: 2410 Grifols Way, Los Angeles, CALIFORNIA, 90032.
Item 2.
(a)	Name of person filing: Brandes Investment Partners, L.P.
(b)	Address or principal business office or, if none, residence: 4275 Executive Square, 5th Floor, La Jolla, CA 92037
(c)	Citizenship: Delaware
(d)	Title of class of securities: Class B shares
(e)	CUSIP No.: 398438408
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: 27,220,179 ORDs and 36,343,419 ADRs
(b)	Percent of class: 24.31 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 0
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 0
	(iv) Shared power to dispose or to direct the disposition of: 27,220,179 ORDs and 36,343,419 ADRs
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
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.

BRANDES INVESTMENT PARTNERS, LP

Signature:	/s/ Glenn Carlson
Name/Title:	Executive Director
Date:	05/06/2026

FAQ

What stake does Brandes Investment Partners hold in Grifols (GRFS)?

Brandes reports beneficial ownership of 27,220,179 ORD and 36,343,419 ADRs, totaling 24.31% of the Class B shares as of 03/31/2026. The position is disclosed in Amendment No. 6 to a Schedule 13G/A.

Does Brandes have voting control over the reported Grifols shares?

The filing shows 0 sole voting power and 0 shared voting power; it reports shared dispositive power for the holdings. Voting authority is not shown as held solely by Brandes in this amendment.

What is the reporting date and signature date on the Schedule 13G/A amendment?

The ownership is reported as of 03/31/2026 and the amendment is signed by an Executive Director on 05/06/2026. The document is labeled Amendment No. 6 to the Schedule 13G/A.

Are the reported amounts ORD or ADRs for Grifols in this filing?

The filing lists both: 27,220,179 ORD (ordinary shares) and 36,343,419 ADRs (American Depositary Receipts), each explicitly stated in the ownership section of the amendment.

Who signed the Schedule 13G/A amendment for Brandes Investment Partners?

The amendment is signed by /s/ Glenn Carlson, identified as an Executive Director, with the signature date of 05/06/2026, per the filing excerpt.