What smart money is saying about Mediobanca

Position history

Every position in Mediobanca on record in the archive was reported in Q1 2025, across 1 fund letter, with 1 sell (trimmed or exited).

Bought and Sold count moves: the same sentence published by several funds of one house in a quarter counts once.

Fund activity · 1 position · 1 move

• ExitedAriel International DM

  March 2025

  “By comparison, we successfully exited Italian bank, Banca Monte dei Paschi on valuation.”

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  Mediobanca

Also mentioned · 1

These funds discuss Mediobanca as a competitor, benchmark or comparable, without disclosing a position in it.

• MentionedGuinness Pan-European Equity Income Fund

  July 2026

  “Germany's pension system faces a demographic problem. In 2024, the government spent €118bn, about a quarter of the federal budget, topping up the state pension scheme. Economists warn that this portion could double within two decades as 16.5m baby boomers retire while only 12.5m new workers enter the labour force. In June 2026, a cross-party commission proposed a package to address this, its centrepiece a new, Swedish-style compulsory pension invested in capital markets, funded by contributions rising to 2% of salary by 2031. That fund alone is expected to direct around €30bn a year into capital markets. This follows 2025's reform of the constitutional debt brake, which freed up €500bn for infrastructure and exempted defence spending from fiscal constraints entirely. Defence spending alone is set to reach roughly €83bn in 2026. Together, these reforms mark Germany's most significant fiscal and structural shift in decades. Potential to unlock long-term capital Households in the EU still hold roughly 30% of financial assets (some €12trn) in cash rather than productive investments. Mobilising just 5% of the EU's total €37trn pool of household savings into shares or funded pensions would unlock an estimated €1.8trn, or c.11% of the bloc’s GDP. This is precisely the opportunity Draghi's 2024 report on European competitiveness sought to capture. He called for an additional €800bn in annual investment to fund innovation, decarbonisation, and defence. Part of his solution was channelling household savings, particularly through pensions, into capital markets. The gap is stark, as shown by the chart below: the EU's pool of long-term capital sits at just 184% of GDP, against 498% in the US and 259% in the UK. This gap gives a sense of the scale of what the EU could achieve, with pensions the clearest shortfall at 32% of GDP versus 173% in the US. 6 Guinness Pan-European Equity Income July 2026 A more dynamic capital market is not just about higher index returns. It puts idle savings to work, building wealth for the households who save, and giving companies the capital to grow. Source: The future of Pension and Retail Investments in the EU, New Financial (2024); Towards an EU Savings and Investments Union, Deutsche Boerse 2025 Banking and Telecoms Consolidation In banking, Monte dei Paschi's (MPS) hostile bid for Mediobanca became a full merger, creating Italy's third-largest bank.”

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