Banco Bilbao Vizcaya Argentaria S.A. Boosts Marathon Petroleum Holdings

Spanish banking group increases stake in U.S. oil refiner by 5.9% in Q3 2025

Mar. 16, 2026 at 8:19am

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Banco Bilbao Vizcaya Argentaria S.A. (BBVA), a major Spanish financial group, increased its holdings in Marathon Petroleum Corporation (NYSE: MPC) by 5.9% in the third quarter of 2025, according to a recent SEC filing. BBVA now owns 98,203 shares of the oil and gas company, valued at $18.9 million at the end of the reporting period.

Why it matters

The increase in BBVA's stake in Marathon Petroleum suggests the Spanish bank sees long-term value in the U.S. refiner, even as the industry faces headwinds from macroeconomic and geopolitical uncertainties. Marathon Petroleum's recent strong financial performance and shareholder returns may have also contributed to BBVA's confidence in the company.

The details

According to the 13F filing, BBVA purchased an additional 5,468 shares of Marathon Petroleum in the third quarter, bringing its total holding to 98,203 shares. This represents a 5.9% increase in BBVA's position in the oil and gas company compared to the prior quarter.

  • BBVA filed the 13F report disclosing the increased stake in Marathon Petroleum on March 16, 2026.
  • The reported transactions occurred in the third quarter of 2025.

The players

Banco Bilbao Vizcaya Argentaria S.A. (BBVA)

A major Spanish financial group and one of the largest banks in Europe.

Marathon Petroleum Corporation (MPC)

A U.S.-based downstream energy company engaged in refining, marketing, supply, and transportation of petroleum products.

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The takeaway

BBVA's increased stake in Marathon Petroleum suggests the Spanish bank sees long-term potential in the U.S. refiner, even as the industry faces broader economic and geopolitical uncertainties. The move underscores Marathon Petroleum's recent strong financial performance and ability to generate shareholder returns.