Vault-13

SAP SE SAP

SPON ADR · ADR · CUSIP 803054204 · ISIN US8030542042

German software producer

531 institutional holders +39 vs Q4 2022
64,716,15164.7m shares reported held*
$8.2bnreported value*
85 new 189 added 163 reduced 42 sold out net bought ≈ $876.1m (+6.9m shares)

* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once ($12.9m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $126.47. Options: 14 managers hold calls ($147.4m notional), 12 hold puts ($198.7m).

Trends to Q1 2023

Institutional holders

Managers reporting a position, each quarter

0200400600Q3 22: 451Q4 22: 492Q1 23: 531531Q3 22Q4 22Q1 23
Numbers
QuarterHolders
Q3 2022451
Q4 2022492
Q1 2023531

Buyers vs sellers

Managers adding to or starting a position, vs cutting or selling out

Bought or addedCut or sold out
4000400Q4 22: 234 bought or addedQ4 22: 205 cut or sold outQ4 22Q1 23: 274 bought or addedQ1 23: 205 cut or sold outQ1 23
Numbers
QuarterBought or addedCut or sold out
Q4 2022234205
Q1 2023274205

Calls vs puts

Options held, notional value, last 4 quarters. P/C = puts ÷ calls

CallsPuts
$0$50m$100m$150m$200mQ3 22 calls: $110.0mQ3 22 puts: $152.4mQ3 22P/C 1.39Q4 22 calls: $82.7mQ4 22 puts: $170.3mQ4 22P/C 2.06Q1 23 calls: $147.4mQ1 23 puts: $198.7mQ1 23P/C 1.35
Numbers
QuarterCallsPutsP/C
Q3 2022$110.0m$152.4m1.39
Q4 2022$82.7m$170.3m2.06
Q1 2023$147.4m$198.7m1.35

Biggest buyers

FMR LLC Added +5,747,918+5.7m
Capital International Investors Added +775,264+775.3k
Clearbridge Investments, LLC Added +612,168+612.2k
BANK OF AMERICA CORP /DE/ Added +297,217+297.2k
ARROWSTREET CAPITAL, LIMITED PARTNERSHIP Added +295,184+295.2k
BRANDES INVESTMENT PARTNERS, LP Added +212,146+212.1k
WELLS FARGO & COMPANY/MN Added +152,611+152.6k
ENVESTNET ASSET MANAGEMENT INC Added +135,252+135.3k
GOLDMAN SACHS GROUP INC Added +134,103+134.1k
Honeycomb Asset Management LP New +125,000+125.0k

Biggest sellers

PRINCIPAL FINANCIAL GROUP INC Reduced -320,409-320.4k
Fisher Asset Management, LLC Reduced -274,580-274.6k
JANE STREET GROUP, LLC Reduced -247,836-247.8k
WINDACRE PARTNERSHIP LLC Reduced -205,000-205.0k
NEUBERGER BERMAN GROUP LLC Reduced -146,119-146.1k
D. E. Shaw & Co., Inc. Sold out -142,094-142.1k
FIRST TRUST ADVISORS LP Reduced -130,933-130.9k
Optiver Holding B.V. Reduced -110,386-110.4k
FIDUCIARY MANAGEMENT INC /WI/ Reduced -101,752-101.8k
LMR Partners LLP Sold out -100,000-100.0k

Biggest calls

Optiver Holding B.V. Added $39.7m313.4k shares
CITADEL ADVISORS LLC Added $39.1m308.9k shares
SAL Trading, LLC Added $19.7m156.0k shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $16.2m128.4k shares
Twin Tree Management, LP Added $12.8m101.4k shares
SIMPLEX TRADING, LLC Reduced $12.0m94.5k shares
Walleye Trading LLC Added $3.1m24.2k shares
PEAK6 Investments LLC Reduced $1.5m12.1k shares
Squarepoint Ops LLC Added $1.0m8.0k shares
JANE STREET GROUP, LLC New $772.0k6.1k shares

Biggest puts

Optiver Holding B.V. Added $78.1m616.8k shares
CITADEL ADVISORS LLC Added $31.5m249.3k shares
Twin Tree Management, LP Reduced $24.6m194.5k shares
SIMPLEX TRADING, LLC Reduced $19.8m156.7k shares
SAL Trading, LLC Added $15.3m121.0k shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $14.1m111.8k shares
Walleye Trading LLC Added $12.9m102.1k shares
WOLVERINE TRADING, LLC New $1.4m11.0k shares
GROUP ONE TRADING LLC Added $329.0k2.6k shares
PEAK6 Investments LLC Reduced $278.4k2.2k shares

Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.

Insider purchases and sales in Q1 2023

Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.

None reported in Q1 2023.

Holders, Q1 2023

#ManagerLocationShares Value% of their portfolioChangeShares change
1 FMR LLC 0.06% of their portfolio BOSTON, MA 11,186,79611.2m $1.4bn $1.4bn 0.06% Added +5.7m +5,747,918
2 Capital International Investors 0.27% of their portfolio Los Angeles, CA 8,293,7608.3m $1.0bn $1.0bn 0.27% Added +775.3k +775,264
3 Fisher Asset Management, LLC 0.48% of their portfolio PLANO, TX 6,258,3316.3m $792.0m $792.0m 0.48% Reduced -274.6k -274,580
4 Harding Loevner LP 4.35% of their portfolio Bridgewater, NJ 6,040,6386.0m $764.5m $764.5m 4.35% Added +1.3k +1,328
5 MORGAN STANLEY 0.04% of their portfolio NEW YORK, NY 2,664,1402.7m $337.1m $337.1m 0.04% Reduced -86.7k -86,725
6 Clearbridge Investments, LLC 0.30% of their portfolio NEW YORK, NY 2,443,6602.4m $309.2m $309.2m 0.30% Added +612.2k +612,168
7 FIDUCIARY MANAGEMENT INC /WI/ 2.49% of their portfolio MILWAUKEE, WI 1,948,7501.9m $246.6m $246.6m 2.49% Reduced -101.8k -101,752
8 WINDACRE PARTNERSHIP LLC 5.26% of their portfolio HOUSTON, TX 1,943,7001.9m $246.0m $246.0m 5.26% Reduced -205.0k -205,000
9 POLEN CAPITAL MANAGEMENT LLC 0.44% of their portfolio Boca Raton, FL 1,316,5521.3m $166.6m $166.6m 0.44% Reduced -20.1k -20,146
10 BANK OF AMERICA CORP /DE/ 0.02% of their portfolio CHARLOTTE, NC 1,311,1351.3m $165.9m $165.9m 0.02% Added +297.2k +297,217
11 PRINCIPAL FINANCIAL GROUP INC 0.11% of their portfolio DES MOINES, IA 1,173,5991.2m $148.5m $148.5m 0.11% Reduced -320.4k -320,409
12 WELLS FARGO & COMPANY/MN 0.04% of their portfolio SAN FRANCISCO, CA 1,032,1711.0m $130.6m $130.6m 0.04% Added +152.6k +152,611
13 BlackRock Inc. 0.00% of their portfolio New York, NY 990,075990.1k $125.3m $125.3m 0.00% Added +57.4k +57,425
14 GOLDMAN SACHS GROUP INC 0.03% of their portfolio NEW YORK, NY 961,578961.6k $121.7m $121.7m 0.03% Added +134.1k +134,103
15 FIRST TRUST ADVISORS LP 0.14% of their portfolio Wheaton, IL 924,750924.8k $117.0m $117.0m 0.14% Reduced -130.9k -130,933
16 Sustainable Growth Advisers, LP 0.65% of their portfolio STAMFORD, CT 887,609887.6k $112.3m $112.3m 0.65% Reduced -730 -730
17 NORTHERN TRUST CORP 0.02% of their portfolio CHICAGO, IL 883,036883.0k $111.7m $111.7m 0.02% Added +51.8k +51,801
18 ROYAL BANK OF CANADA 0.03% of their portfolio TORONTO, A6 784,733784.7k $99.3m $99.3m 0.03% Added +47.5k +47,516
19 ENVESTNET ASSET MANAGEMENT INC 0.04% of their portfolio Berwyn, PA 668,136668.1k $79.7m $79.7m 0.04% Added +135.3k +135,252
20 MAR VISTA INVESTMENT PARTNERS LLC 3.60% of their portfolio LOS ANGELES, CA 639,857639.9k $81.0m $81.0m 3.60% Reduced -2.3k -2,337
21 RAYMOND JAMES & ASSOCIATES 0.06% of their portfolio ST PETERSBURG, FL 547,120547.1k $69.2m $69.2m 0.06% Added +76.9k +76,870
22 JPMORGAN CHASE & CO 0.01% of their portfolio NEW YORK, NY 499,474499.5k $63.2m $63.2m 0.01% Reduced -6.0k -5,965
23 CRAWFORD INVESTMENT COUNSEL INC 1.24% of their portfolio ATLANTA, GA 460,598460.6k $58.3m $58.3m 1.24% Reduced -1.4k -1,447
24 AMERIPRISE FINANCIAL INC 0.02% of their portfolio MINNEAPOLIS, MN 423,840423.8k $53.7m $53.7m 0.02% Reduced -1.8k -1,842
25 ARROWSTREET CAPITAL, LIMITED PARTNERSHIP 0.07% of their portfolio BOSTON, MA 412,315412.3k $52.2m $52.2m 0.07% Added +295.2k +295,184
26 NEUBERGER BERMAN GROUP LLC 0.05% of their portfolio NEW YORK, NY 411,577411.6k $52.1m $52.1m 0.05% Reduced -146.1k -146,119
27 Bank of New York Mellon Corp 0.01% of their portfolio NEW YORK, NY 379,613379.6k $48.0m $48.0m 0.01% Reduced -1.8k -1,800
28 Credential Qtrade Securities Inc. 3.00% of their portfolio VANCOUVER, A1 357,264357.3k $45.2m $45.2m 3.00% Added +21.0k +21,018
29 CAUSEWAY CAPITAL MANAGEMENT LLC 0.86% of their portfolio LOS ANGELES, CA 282,974283.0k $35.8m $35.8m 0.86% Added +13.2k +13,217
30 MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.02% of their portfolio Toronto, A6 277,281277.3k $35.1m $35.1m 0.02% Reduced -346 -346
31 NATIXIS ADVISORS, LLC 0.12% of their portfolio Boston, MA 271,414271.4k $34.3m $34.3m 0.12% Added +5.1k +5,113
32 CAMBIAR INVESTORS LLC 1.43% of their portfolio Denver, CO 262,465262.5k $33.2m $33.2m 1.43% Reduced -88.7k -88,650
33 BRANDES INVESTMENT PARTNERS, LP 0.62% of their portfolio LA JOLLA, CA 229,310229.3k $29.0m $29.0m 0.62% Added +212.1k +212,146
34 BECKER CAPITAL MANAGEMENT INC 1.14% of their portfolio Portland, OR 228,307228.3k $28.9m $28.9m 1.14% Reduced -347 -347
35 BANK OF MONTREAL /CAN/ 0.01% of their portfolio TORONTO, A6 203,775203.8k $25.8m $25.8m 0.01% Reduced -1.2k -1,178
36 JARISLOWSKY, FRASER Ltd 0.16% of their portfolio MONTREAL, A8 199,858199.9k $25.3m $25.3m 0.16% Reduced -6.4k -6,382
37 SEI INVESTMENTS CO 0.05% of their portfolio OAKS, PA 192,488192.5k $24.4m $24.4m 0.05% Added +9.5k +9,547
38 STIFEL FINANCIAL CORP 0.03% of their portfolio ST. LOUIS, MO 181,256181.3k $22.9m $22.9m 0.03% Added +17.2k +17,231
39 Cardinal Capital Management, Inc. 1.19% of their portfolio WINNIPEG, A2 172,699172.7k $21.9m $21.9m 1.19% Reduced -1.2k -1,235
40 Russell Investments Group, Ltd. 0.04% of their portfolio Seattle, WA 157,626157.6k $19.9m $19.9m 0.04% Added +6.1k +6,089
41 Connor, Clark & Lunn Investment Management Ltd. 0.10% of their portfolio VANCOUVER, A1 150,200150.2k $19.0m $19.0m 0.10% Reduced -32.4k -32,377
42 Boston Common Asset Management, LLC 0.38% of their portfolio BOSTON, MA 146,098146.1k $18.5m $18.5m 0.38% Added +16.4k +16,392
43 Invesco Ltd. 0.01% of their portfolio ATLANTA, GA 142,896142.9k $18.1m $18.1m 0.01% Added +5.2k +5,241
44 Davis Selected Advisers 0.12% of their portfolio Tucson, AZ 142,080142.1k $18.0m $18.0m 0.12% Reduced -755 -755
45 HANTZ FINANCIAL SERVICES, INC. 0.45% of their portfolio SOUTHFIELD, MI 130,159130.2k $16.5m $16.5m 0.45% Added +3.0k +2,982
46 US BANCORP \DE\ 0.03% of their portfolio MINNEAPOLIS, MN 125,444125.4k $15.9m $15.9m 0.03% Added +6.1k +6,073
47 Honeycomb Asset Management LP 3.70% of their portfolio NEW YORK, NY 125,000125.0k $15.8m $15.8m 3.70% New
48 JANE STREET GROUP, LLC 0.02% of their portfolio NEW YORK, NY 114,398114.4k $14.5m $14.5m 0.02% Reduced -247.8k -247,836
49 MASSACHUSETTS FINANCIAL SERVICES CO /MA/ 0.00% of their portfolio Boston, MA 114,024114.0k $14.4m $14.4m 0.00% Added +1.5k +1,517
50 COERENTE CAPITAL MANAGEMENT 3.16% of their portfolio TORONTO, A6 111,133111.1k $14.1m $14.1m 3.16% Added +9.3k +9,333
51 OPPENHEIMER ASSET MANAGEMENT INC. 0.20% of their portfolio NEW YORK, NY 102,333102.3k $13.0m $13.0m 0.20% Added +10.1k +10,124
52 CONSOLIDATED PRESS INTERNATIONAL HOLDINGS LTD 6.09% of their portfolio SYDNEY, C3 100,802100.8k $12.8m $12.8m 6.09% New
53 J.P. Morgan Private Wealth Advisors LLC 0.03% of their portfolio SAN FRANCISCO, CA 98,65698.7k $12.5m $12.5m 0.03% Added +2.0k +2,012
54 TRUIST FINANCIAL CORP 0.02% of their portfolio CHARLOTTE, NC 88,05488.1k $11.1m $11.1m 0.02% Added +10.0k +9,951
55 Janney Montgomery Scott LLC 0.04% of their portfolio PHILADELPHIA, PA 81,01281.0k $10.3m $10.3m 0.04% Added +2 +2
56 CITIGROUP INC 0.01% of their portfolio NEW YORK, NY 80,18880.2k $10.1m $10.1m 0.01% Reduced -8.8k -8,757
57 NorthCrest Asset Manangement, LLC 0.39% of their portfolio PLYMOUTH, MN 74,50674.5k $9.4m $9.4m 0.39% Added +3.7k +3,705
58 Crossmark Global Holdings, Inc. 0.21% of their portfolio HOUSTON, TX 71,70971.7k $9.1m $9.1m 0.21% Reduced -1.8k -1,789
59 UBS Group AG 0.00% of their portfolio ZURICH, V8 69,59869.6k $8.8m $8.8m 0.00% Reduced -1.0k -1,011
60 Mariner, LLC 0.02% of their portfolio Overland Park, KS 65,12165.1k $8.2m $8.2m 0.02% Reduced -6.8k -6,824
61 KORNITZER CAPITAL MANAGEMENT INC /KS 0.16% of their portfolio SHAWNEE MISSION, KS 64,80064.8k $8.2m $8.2m 0.16% Unchanged
62 Dash Acquisitions Inc. 3.75% of their portfolio WOODLAND HILLS, CA 63,89263.9k $8.1m $8.1m 3.75% Added +5.9k +5,897
63 CITADEL ADVISORS LLC 0.01% of their portfolio MIAMI, FL 63,29963.3k $8.0m $8.0m 0.01% Added +62.7k +62,684
64 SCOTIA CAPITAL INC. 0.06% of their portfolio TORONTO, A6 59,66859.7k $7.6m $7.6m 0.06% Reduced -303 -303
65 OSAIC HOLDINGS, INC. 0.01% of their portfolio SCOTTSDALE, AZ 59,57059.6k $7.5m $7.5m 0.01% Added +7.6k +7,571
66 PFS INVESTMENTS INC. 0.13% of their portfolio DULUTH, GA 57,83057.8k $7.4m $7.4m 0.13% Added +2.5k +2,516
67 GUARDIAN CAPITAL ADVISORS LP 0.82% of their portfolio TORONTO, A6 56,27556.3k $7.2m $7.2m 0.82% Added +760 +760
68 LPL Financial LLC 0.01% of their portfolio FORT MILL, SC 55,46155.5k $7.0m $7.0m 0.01% Added +3.3k +3,309
69 Manning & Napier Group, LLC 0.08% of their portfolio Fairport, NY 54,89454.9k $6.9m $6.9m 0.08% Reduced -1.5k -1,453
70 Creative Planning 0.01% of their portfolio OVERLAND PARK, KS 54,65654.7k $6.9m $6.9m 0.01% Added +778 +778
71 Ethic Inc. 0.28% of their portfolio NEW YORK, NY 53,77453.8k $6.8m $6.8m 0.28% Added +2.7k +2,729
72 NATIONAL BANK OF CANADA /FI/ 0.02% of their portfolio MONTREAL, A8 53,45053.5k $6.8m $6.8m 0.02% Reduced -68 -68
73 Polaris Wealth Advisory Group, LLC 0.49% of their portfolio SAN RAFAEL, CA 52,20052.2k $6.6m $6.6m 0.49% Reduced -4.8k -4,797
74 Rock Point Advisors, LLC 2.08% of their portfolio BURLINGTON, VT 48,42648.4k $6.1m $6.1m 2.08% Reduced -2.0k -1,989
75 KAYNE ANDERSON RUDNICK INVESTMENT MANAGEMENT LLC 0.02% of their portfolio LOS ANGELES, CA 46,73546.7k $5.9m $5.9m 0.02% Reduced -372 -372
76 CHARTWELL INVESTMENT PARTNERS, LLC 0.22% of their portfolio BERYWN, PA 46,67346.7k $5.9m $5.9m 0.22% Added +3.0k +3,012
77 FRANKLIN RESOURCES INC 0.00% of their portfolio San Mateo, CA 46,50146.5k $5.9m $5.9m 0.00% Reduced -4.6k -4,621
78 PRICE T ROWE ASSOCIATES INC /MD/ 0.00% of their portfolio BALTIMORE, MD 46,15246.2k $5.8m $5.8m 0.00% Added +3.4k +3,405
79 One Capital Management, LLC 0.29% of their portfolio WESTLAKE VILLAGE, CA 46,13946.1k $5.8m $5.8m 0.29% Reduced -12 -12
80 Cox Capital Mgt LLC 4.17% of their portfolio ANDOVER, MA 45,63445.6k $5.8m $5.8m 4.17% Reduced -254 -254
81 Qube Research & Technologies Ltd 0.03% of their portfolio LONDON, X0 42,54942.5k $5.4m $5.4m 0.03% Added +20.9k +20,877
82 Orion Porfolio Solutions, LLC 0.07% of their portfolio OMAHA, NE 41,98142.0k $5.3m $5.3m 0.07% Added +29.3k +29,287
83 Orion Portfolio Solutions, LLC 0.07% of their portfolio Omaha, NE 41,98142.0k $5.3m $5.3m 0.07% New
84 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 41,41741.4k $5.2m $5.2m 0.00% Reduced -747 -747
85 Timber Creek Capital Management LLC 1.86% of their portfolio BOSTON, MA 41,13441.1k $5.2m $5.2m 1.86% Added +2.7k +2,718
86 Henry James International Management Inc. 2.18% of their portfolio NEW YORK, NY 40,75540.8k $5.2m $5.2m 2.18% Added +2.6k +2,581
87 ASSETMARK, INC 0.02% of their portfolio CONCORD, CA 40,48240.5k $5.1m $5.1m 0.02% Added +5.9k +5,877
88 Boston Trust Walden Corp 0.04% of their portfolio BOSTON, MA 40,20540.2k $5.1m $5.1m 0.04% Added +4.0k +3,975
89 TOWNSQUARE CAPITAL LLC 0.11% of their portfolio Lehi, UT 40,06640.1k $5.1m $5.1m 0.11% Added +16.1k +16,105
90 O'SHAUGHNESSY ASSET MANAGEMENT, LLC 0.08% of their portfolio Stamford, CT 39,16339.2k $5.0m $5.0m 0.08% Added +6.0k +5,990
91 AMERICAN CENTURY COMPANIES INC 0.00% of their portfolio KANSAS CITY, MO 38,83238.8k $4.9m $4.9m 0.00% Added +3.6k +3,621
92 Optiver Holding B.V. 0.23% of their portfolio AMSTERDAM, P7 38,72338.7k $4.9m $4.9m 0.23% Reduced -110.4k -110,386
93 PNC Financial Services Group, Inc. 0.00% of their portfolio Pittsburgh, PA 38,00238.0k $4.8m $4.8m 0.00% Added +857 +857
94 DIMENSIONAL FUND ADVISORS LP 0.00% of their portfolio AUSTIN, TX 37,87737.9k $4.8m $4.8m 0.00% Reduced -5.2k -5,247
95 Capital Investment Counsel, Inc 1.03% of their portfolio RALEIGH, NC 35,68535.7k $4.5m $4.5m 1.03% Reduced -4.8k -4,760
96 MILLENNIUM MANAGEMENT LLC 0.01% of their portfolio NEW YORK, NY 35,65835.7k $4.5m $4.5m 0.01% Reduced -16.7k -16,682
97 Cohen Klingenstein LLC 0.21% of their portfolio NEW YORK, NY 35,43335.4k $4.5m $4.5m 0.21% Reduced -4.0k -4,000
98 NAPLES GLOBAL ADVISORS, LLC 0.56% of their portfolio NAPLES, FL 35,26235.3k $4.5m $4.5m 0.56% Reduced -30 -30
99 FEDERATED HERMES, INC. 0.01% of their portfolio PITTSBURGH, PA 34,07034.1k $4.3m $4.3m 0.01% Reduced -7.9k -7,886
100 Madison Asset Management, LLC 0.06% of their portfolio MADISON, WI 33,67933.7k $4.3m $4.3m 0.06% Added +666 +666