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SAP in the 13F filings

SAP Se · CUSIP 803054204

Sector · Software and IT servicesTheme · Cloud and enterprise software· L3VLUP-definedTheme · Prepackaged software
Quarter
Q2 2026Q1 2026Q4 2025Q3 2025Q2 2025Q1 2025Q4 2024Q3 2024Q2 2024Q1 2024Q4 2023Q3 2023
Quarter end
31 Dec 2025
the date the book describes
Filed
27 Oct 2026
latest of these filings; the earliest 22 Jan 2026
Managers listing it
29
at least, of 95 tracked, among listed positions
Comparable managers
92
filed both Q3 2025 and Q4 2025; 9 listed it in both
Shares listed
11,483,392
combined, among listed positions
Reported value
$2.8bn
combined, at the quarter end

Among the 92 comparable managers: 16 buyers (opened or added shares) and 16 sellers (trimmed or exited), at least, among listed positions. Their net change in shares was +1,587,932.

Managers listing SAP in Q4 2025

Share of 13F value is the position’s reported value over everything the manager reported that quarter. The share change is against Q3 2025, and only where both filings list the position. A rise in value with no rise in shares is the price, not buying.

29 of 29 holders

ActionFiling
Fidelity (FMR LLC)6,790,713$1.6bn0.08%Trimmed-135,92617 Feb 2026 (the filing on sec.gov)
D. E. Shaw & Co.2,301,078$559m0.31%Added+1,380,04717 Feb 2026 (the filing on sec.gov)
Millennium Management LLC397,324$97munder 0.1%Added+394,36417 Feb 2026 (the filing on sec.gov)
Wellington Management Group LLP286,210$70munder 0.1%Trimmed-177,96417 Feb 2026 (the filing on sec.gov)
Polen Capital Management LLC233,332$57m0.24%Trimmed-111,62012 Feb 2026 (the filing on sec.gov)
Neuberger Berman Group LLC232,384$56munder 0.1%Trimmed-32,19927 Oct 2026 (the filing on sec.gov)
MFS Investment Management209,722$51munder 0.1%Trimmed-2,50122 Jan 2026 (the filing on sec.gov)
Marshall Wace LLP142,467$35munder 0.1%Added+140,93413 Feb 2026 (the filing on sec.gov)
Balyasny Asset Management LLC126,722$31munder 0.1%Newnew17 Feb 2026 (the filing on sec.gov)
Citadel Advisors LLC119,430$29munder 0.1%Added+77,57217 Feb 2026 (the filing on sec.gov)
Voloridge Investment Management LLC103,255$25m0.09%Trimmed-57,52917 Feb 2026 (the filing on sec.gov)
Jane Street Group LLC85,098$21munder 0.1%Added+2,29212 Feb 2026 (the filing on sec.gov)
Two Sigma Investments LP80,410$20munder 0.1%Newnew17 Feb 2026 (the filing on sec.gov)
Ruane Cunniff & Goldfarb LP45,927$11m0.17%Trimmed-7313 Feb 2026 (the filing on sec.gov)
AQR Capital Management LLC43,070$10munder 0.1%Added+6,91117 Feb 2026 (the filing on sec.gov)
Walleye Capital LLC41,868$10munder 0.1%Added+39,68113 Feb 2026 (the filing on sec.gov)
Invesco Ltd41,461$10munder 0.1%Added+3,08019 Feb 2026 (the filing on sec.gov)
Susquehanna International Group LLP40,864$9.9munder 0.1%Trimmed-6,19517 Feb 2026 (the filing on sec.gov)
Tudor Investment Corp26,319$6.4munder 0.1%Trimmed-21,57917 Feb 2026 (the filing on sec.gov)
Capital World Investors23,468$5.7munder 0.1%Added+29411 Feb 2026 (the filing on sec.gov)
Capital Research Global Investors20,756$5.1munder 0.1%Trimmed-2,45711 Feb 2026 (the filing on sec.gov)
AllianceBernstein LP20,502$5.0munder 0.1%Trimmed-3,84517 Feb 2026 (the filing on sec.gov)
Schonfeld Strategic Advisors LLC19,437$4.7munder 0.1%Added+13,36917 Feb 2026 (the filing on sec.gov)
Verition Fund Management LLC13,887$3.4munder 0.1%Added+11,26413 Feb 2026 (the filing on sec.gov)
Davidson Kempner Capital Management LP12,256$3.0munder 0.1%Newnew17 Feb 2026 (the filing on sec.gov)
Page 1 of 2

Largest increases and reductions, by shares

Q3 2025 to Q4 2025, among managers that listed it in both quarters or opened it.

Increases

Reductions

New positions and exits

At least these many: a manager is shown exiting only where its own filing shows the position gone.

New (3)

Exited (3)

Ownership over time

Every quarter on file. A quarter-end value moves with the price as well as with the shares held; buyers and sellers count comparable managers, by shares.
11 in Q3 2024 to 8 in Q2 2026

Tracked managers listing it, at least.

0510152014201620182020202220242026
the quarter shown share split complete books; unmarked quarters rest on listed positionsClick a quarter to open it.
SAP by quarter
QuarterHoldersReported valueBuyersSellers
Q2 20134$265mn.a.n.a.
Q3 20134$99mn.a.n.a.
Q4 20133$106mn.a.n.a.
Q1 20143$139mn.a.n.a.
Q2 20145$126mn.a.n.a.
Q3 20144$112mn.a.n.a.
Q4 20141$94mn.a.n.a.
Q1 20152$126mn.a.n.a.
Q2 20154$114mn.a.n.a.
Q3 20154$99mn.a.n.a.
Q4 20152$106mn.a.n.a.
Q1 20163$130mn.a.n.a.
Q2 20161$115mn.a.n.a.
Q3 20163$250mn.a.n.a.
Q4 20163$246mn.a.n.a.
Q1 20174$267mn.a.n.a.
Q2 20172$246mn.a.n.a.
Q3 20176$301mn.a.n.a.
Q4 20174$288mn.a.n.a.
Q1 20189$586mn.a.n.a.
Q2 20186$946mn.a.n.a.
Q3 20189$1.3bnn.a.n.a.
Q4 20187$1.0bnn.a.n.a.
Q1 20197$1.0bnn.a.n.a.
Q2 20197$1.1bnn.a.n.a.
Q3 201911$1.1bnn.a.n.a.
Q4 201910$1.1bnn.a.n.a.
Q1 20208$823mn.a.n.a.
Q2 20205$1.0bnn.a.n.a.
Q3 20205$1.1bnn.a.n.a.
Q4 20204$823mn.a.n.a.
Q1 20218$929mn.a.n.a.
Q2 20215$824mn.a.n.a.
Q3 20218$892mn.a.n.a.
Q4 20217$1.0bnn.a.n.a.
Q1 20227$912mn.a.n.a.
Q2 20227$787mn.a.n.a.
Q3 202210$898mn.a.n.a.
Q4 20226$779mn.a.n.a.
Q1 20237$987mn.a.n.a.
Q2 20238$1.1bnn.a.n.a.
Q3 20239$1.1bnn.a.n.a.
Q4 20238$1.4bn44
Q1 20249$1.8bn55
Q2 202410$2.2bn73
Q3 202411$2.8bn74
Q4 20247$2.9bn44
Q1 20259$3.4bn45
Q2 20259$3.3bn46
Q3 20259$2.4bn72
Q4 202512$2.6bn1616
Q1 202614$2.4bn1915
Q2 20268$647m1023

Compare with…

Holders over time, buyers and sellers, and the managers holding both, side by side for up to four stocks.

SAP and GOOGL →SAP and AMZN →SAP and MSFT →Choose a stock to compare with SAP →

How much of the picture this is

A 13F is a manager’s long US-listed equity book at a quarter end, filed up to 45 days later. It shows no shorts, cash, bonds or performance, and it is never today’s portfolio. Large books are listed to their largest positions, so a manager missing from this table may still hold a small position below that line. These are 95 tracked managers, not the institutional market.

Which funds own SAP, latest filings →Back to the 13F Explorer →