Vault-13

SAP SE SAP

SPON ADR · ADR · CUSIP 803054204 · ISIN US8030542042

German software producer

570 institutional holders +39 vs Q1 2023
59,247,09959.2m shares reported held*
$8.1bnreported value*
72 new 186 added 207 reduced 38 sold out net sold ≈ $756.2m (-5.5m 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 ($11.4m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $136.77. Options: 15 managers hold calls ($106.4m notional), 14 hold puts ($266.2m).

Trends to Q2 2023

Institutional holders

Managers reporting a position, each quarter

0200400600Q3 22: 451Q4 22: 492Q1 23: 531Q2 23: 570570Q3 22Q4 22Q1 23Q2 23
Numbers
QuarterHolders
Q3 2022451
Q4 2022492
Q1 2023531
Q2 2023570

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 23Q2 23: 258 bought or addedQ2 23: 245 cut or sold outQ2 23
Numbers
QuarterBought or addedCut or sold out
Q4 2022234205
Q1 2023274205
Q2 2023258245

Calls vs puts

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

CallsPuts
$0$100m$200m$300mQ3 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 1.35Q2 23 calls: $106.4mQ2 23 puts: $266.2mQ2 23P/C 2.50
Numbers
QuarterCallsPutsP/C
Q3 2022$110.0m$152.4m1.39
Q4 2022$82.7m$170.3m2.06
Q1 2023$147.4m$198.7m1.35
Q2 2023$106.4m$266.2m2.50

Biggest buyers

BANK OF AMERICA CORP /DE/ Added +1,033,600+1.0m
ARROWSTREET CAPITAL, LIMITED PARTNERSHIP Added +350,949+350.9k
GOLDMAN SACHS GROUP INC Added +335,538+335.5k
Optiver Holding B.V. Added +178,967+179.0k
Susquehanna International Securities, Ltd. New +148,713+148.7k
Night Owl Capital Management, LLC New +126,647+126.6k
MORGAN STANLEY Added +124,048+124.0k
BlackRock Inc. Added +112,434+112.4k
Foresight Global Investors, Inc. Added +96,635+96.6k
MILLENNIUM MANAGEMENT LLC Added +91,351+91.4k

Biggest sellers

FMR LLC Reduced -5,444,684-5.4m
Sustainable Growth Advisers, LP Reduced -833,753-833.8k
PRINCIPAL FINANCIAL GROUP INC Reduced -663,587-663.6k
Harding Loevner LP Reduced -326,627-326.6k
Fisher Asset Management, LLC Reduced -208,617-208.6k
FIDUCIARY MANAGEMENT INC /WI/ Reduced -151,363-151.4k
Honeycomb Asset Management LP Sold out -125,000-125.0k
MAR VISTA INVESTMENT PARTNERS LLC Reduced -122,117-122.1k
Clearbridge Investments, LLC Reduced -119,392-119.4k
J.P. Morgan Private Wealth Advisors LLC Sold out -98,656-98.7k

Biggest calls

CITADEL ADVISORS LLC Added $52.7m385.2k shares
Optiver Holding B.V. Reduced $25.2m184.5k shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $9.9m72.6k shares
SIMPLEX TRADING, LLC Reduced $8.6m62.7k shares
MILLENNIUM MANAGEMENT LLC New $2.2m16.0k shares
Walleye Trading LLC Reduced $2.2m15.9k shares
GROUP ONE TRADING LLC Added $1.9m13.9k shares
Squarepoint Ops LLC Reduced $1.1m7.9k shares
PEAK6 Investments LLC Reduced $643.0k4.7k shares
CAAS CAPITAL MANAGEMENT LP New $629.5k4.6k shares

Biggest puts

Jefferies Financial Group Inc. New $92.3m675.0k shares
Optiver Holding B.V. Reduced $78.3m572.1k shares
CITADEL ADVISORS LLC Reduced $23.3m170.1k shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $21.6m158.2k shares
SIMPLEX TRADING, LLC Reduced $18.0m131.5k shares
MILLENNIUM MANAGEMENT LLC New $12.2m89.3k shares
Walleye Trading LLC Reduced $12.1m88.7k shares
Walleye Capital LLC New $3.9m28.6k shares
WOLVERINE TRADING, LLC Added $2.2m16.5k shares
GROUP ONE TRADING LLC Added $1.5m10.7k 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 Q2 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 Q2 2023.

Holders, Q2 2023

#ManagerLocationShares Value% of their portfolioChangeShares change
1 Capital International Investors 0.27% of their portfolio Los Angeles, CA 8,239,0838.2m $1.1bn $1.1bn 0.27% Reduced -54.7k -54,677
2 Fisher Asset Management, LLC 0.46% of their portfolio PLANO, TX 6,049,7146.0m $827.7m $827.7m 0.46% Reduced -208.6k -208,617
3 FMR LLC 0.07% of their portfolio BOSTON, MA 5,742,1125.7m $785.6m $785.6m 0.07% Reduced -5.4m -5,444,684
4 Harding Loevner LP 4.56% of their portfolio Bridgewater, NJ 5,714,0115.7m $781.7m $781.7m 4.56% Reduced -326.6k -326,627
5 MORGAN STANLEY 0.04% of their portfolio NEW YORK, NY 2,788,1882.8m $381.5m $381.5m 0.04% Added +124.0k +124,048
6 BANK OF AMERICA CORP /DE/ 0.04% of their portfolio CHARLOTTE, NC 2,344,7352.3m $320.8m $320.8m 0.04% Added +1.0m +1,033,600
7 Clearbridge Investments, LLC 0.29% of their portfolio NEW YORK, NY 2,324,2682.3m $318.0m $318.0m 0.29% Reduced -119.4k -119,392
8 WINDACRE PARTNERSHIP LLC 4.91% of their portfolio HOUSTON, TX 1,862,7001.9m $254.8m $254.8m 4.91% Reduced -81.0k -81,000
9 FIDUCIARY MANAGEMENT INC /WI/ 2.48% of their portfolio MILWAUKEE, WI 1,797,3871.8m $245.9m $245.9m 2.48% Reduced -151.4k -151,363
10 GOLDMAN SACHS GROUP INC 0.05% of their portfolio NEW YORK, NY 1,297,1161.3m $177.5m $177.5m 0.05% Added +335.5k +335,538
11 POLEN CAPITAL MANAGEMENT LLC 0.43% of their portfolio Boca Raton, FL 1,267,2591.3m $173.4m $173.4m 0.43% Reduced -49.3k -49,293
12 BlackRock Inc. 0.00% of their portfolio New York, NY 1,102,5091.1m $150.8m $150.8m 0.00% Added +112.4k +112,434
13 WELLS FARGO & COMPANY/MN 0.04% of their portfolio SAN FRANCISCO, CA 1,042,6941.0m $142.7m $142.7m 0.04% Added +10.5k +10,523
14 NORTHERN TRUST CORP 0.02% of their portfolio CHICAGO, IL 865,755865.8k $118.4m $118.4m 0.02% Reduced -17.3k -17,281
15 FIRST TRUST ADVISORS LP 0.13% of their portfolio Wheaton, IL 856,726856.7k $117.2m $117.2m 0.13% Reduced -68.0k -68,024
16 ROYAL BANK OF CANADA 0.03% of their portfolio TORONTO, A6 780,526780.5k $106.8m $106.8m 0.03% Reduced -4.2k -4,207
17 ARROWSTREET CAPITAL, LIMITED PARTNERSHIP 0.13% of their portfolio BOSTON, MA 763,264763.3k $104.4m $104.4m 0.13% Added +350.9k +350,949
18 ENVESTNET ASSET MANAGEMENT INC 0.04% of their portfolio Berwyn, PA 646,220646.2k $88.4m $88.4m 0.04% Reduced -21.9k -21,916
19 RAYMOND JAMES & ASSOCIATES 0.06% of their portfolio ST PETERSBURG, FL 536,160536.2k $73.4m $73.4m 0.06% Reduced -11.0k -10,960
20 MAR VISTA INVESTMENT PARTNERS LLC 2.96% of their portfolio LOS ANGELES, CA 517,740517.7k $70.8m $70.8m 2.96% Reduced -122.1k -122,117
21 PRINCIPAL FINANCIAL GROUP INC 0.05% of their portfolio DES MOINES, IA 510,012510.0k $69.8m $69.8m 0.05% Reduced -663.6k -663,587
22 AMERIPRISE FINANCIAL INC 0.02% of their portfolio MINNEAPOLIS, MN 453,805453.8k $62.2m $62.2m 0.02% Added +30.0k +29,965
23 JPMORGAN CHASE & CO 0.01% of their portfolio NEW YORK, NY 449,392449.4k $61.5m $61.5m 0.01% Reduced -50.1k -50,082
24 CRAWFORD INVESTMENT COUNSEL INC 1.25% of their portfolio ATLANTA, GA 448,242448.2k $61.3m $61.3m 1.25% Reduced -12.4k -12,356
25 NEUBERGER BERMAN GROUP LLC 0.05% of their portfolio NEW YORK, NY 402,605402.6k $55.1m $55.1m 0.05% Reduced -9.0k -8,972
26 Bank of New York Mellon Corp 0.01% of their portfolio NEW YORK, NY 375,572375.6k $51.4m $51.4m 0.01% Reduced -4.0k -4,041
27 Credential Qtrade Securities Inc. 3.19% of their portfolio VANCOUVER, A1 371,300371.3k $50.8m $50.8m 3.19% Added +14.0k +14,036
28 MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.02% of their portfolio Toronto, A6 276,706276.7k $37.9m $37.9m 0.02% Reduced -575 -575
29 NATIXIS ADVISORS, LLC 0.11% of their portfolio Boston, MA 266,389266.4k $36.4m $36.4m 0.11% Reduced -5.0k -5,025
30 CAUSEWAY CAPITAL MANAGEMENT LLC 0.87% of their portfolio LOS ANGELES, CA 241,809241.8k $33.1m $33.1m 0.87% Reduced -41.2k -41,165
31 CAMBIAR INVESTORS LLC 1.37% of their portfolio Denver, CO 237,011237.0k $32.4m $32.4m 1.37% Reduced -25.5k -25,454
32 BECKER CAPITAL MANAGEMENT INC 1.14% of their portfolio Portland, OR 220,841220.8k $30.2m $30.2m 1.14% Reduced -7.5k -7,466
33 Optiver Holding B.V. 0.86% of their portfolio AMSTERDAM, P7 217,690217.7k $29.8m $29.8m 0.86% Added +179.0k +178,967
34 BRANDES INVESTMENT PARTNERS, LP 0.57% of their portfolio LA JOLLA, CA 206,286206.3k $28.2m $28.2m 0.57% Reduced -23.0k -23,024
35 BANK OF MONTREAL /CAN/ 0.01% of their portfolio TORONTO, A6 194,091194.1k $26.7m $26.7m 0.01% Reduced -9.7k -9,684
36 JARISLOWSKY, FRASER Ltd 0.15% of their portfolio MONTREAL, A8 184,054184.1k $25.2m $25.2m 0.15% Reduced -15.8k -15,804
37 STIFEL FINANCIAL CORP 0.03% of their portfolio ST. LOUIS, MO 174,296174.3k $23.8m $23.8m 0.03% Reduced -7.0k -6,960
38 Cardinal Capital Management, Inc. 1.16% of their portfolio WINNIPEG, A2 169,894169.9k $23.2m $23.2m 1.16% Reduced -2.8k -2,805
39 CONSOLIDATED PRESS INTERNATIONAL HOLDINGS LTD 7.21% of their portfolio SYDNEY, C3 168,052168.1k $23.0m $23.0m 7.21% Added +67.2k +67,250
40 US BANCORP \DE\ 0.03% of their portfolio MINNEAPOLIS, MN 152,549152.5k $20.9m $20.9m 0.03% Added +27.1k +27,105
41 Connor, Clark & Lunn Investment Management Ltd. 0.10% of their portfolio VANCOUVER, A1 152,493152.5k $20.9m $20.9m 0.10% Added +2.3k +2,293
42 Susquehanna International Securities, Ltd. 18.93% of their portfolio DUBLIN, L2 148,713148.7k $20.3m $20.3m 18.93% New
43 Boston Common Asset Management, LLC 0.43% of their portfolio BOSTON, MA 146,017146.0k $20.0m $20.0m 0.43% Reduced -81 -81
44 SEI INVESTMENTS CO 0.03% of their portfolio OAKS, PA 144,516144.5k $19.8m $19.8m 0.03% Reduced -48.0k -47,972
45 Russell Investments Group, Ltd. 0.04% of their portfolio Seattle, WA 143,448143.4k $19.6m $19.6m 0.04% Reduced -14.2k -14,178
46 Davis Selected Advisers 0.12% of their portfolio Tucson, AZ 140,899140.9k $19.3m $19.3m 0.12% Reduced -1.2k -1,181
47 CITIGROUP INC 0.02% of their portfolio NEW YORK, NY 133,849133.8k $18.3m $18.3m 0.02% Added +53.7k +53,661
48 HANTZ FINANCIAL SERVICES, INC. 0.44% of their portfolio SOUTHFIELD, MI 129,554129.6k $17.7m $17.7m 0.44% Reduced -605 -605
49 MILLENNIUM MANAGEMENT LLC 0.02% of their portfolio NEW YORK, NY 127,009127.0k $17.4m $17.4m 0.02% Added +91.4k +91,351
50 Night Owl Capital Management, LLC 4.48% of their portfolio GREENWICH, CT 126,647126.6k $17.3m $17.3m 4.48% New
51 Invesco Ltd. 0.00% of their portfolio ATLANTA, GA 125,522125.5k $17.2m $17.2m 0.00% Reduced -17.4k -17,374
52 Foresight Global Investors, Inc. 9.14% of their portfolio PURCHASE, NY 123,848123.8k $16.9m $16.9m 9.14% Added +96.6k +96,635
53 MASSACHUSETTS FINANCIAL SERVICES CO /MA/ 0.01% of their portfolio Boston, MA 119,162119.2k $16.3m $16.3m 0.01% Added +5.1k +5,138
54 COERENTE CAPITAL MANAGEMENT 3.27% of their portfolio TORONTO, A6 111,335111.3k $15.2m $15.2m 3.27% Added +202 +202
55 OPPENHEIMER ASSET MANAGEMENT INC. 0.20% of their portfolio NEW YORK, NY 99,72699.7k $13.6m $13.6m 0.20% Reduced -2.6k -2,607
56 Alight Capital Management LP 5.13% of their portfolio New York, NY 90,00090.0k $12.3m $12.3m 5.13% New
57 JANE STREET GROUP, LLC 0.02% of their portfolio NEW YORK, NY 83,22383.2k $11.4m $11.4m 0.02% Reduced -31.2k -31,175
58 TRUIST FINANCIAL CORP 0.02% of their portfolio CHARLOTTE, NC 83,01483.0k $11.4m $11.4m 0.02% Reduced -5.0k -5,040
59 UBS Group AG 0.00% of their portfolio ZURICH, V8 79,81179.8k $10.9m $10.9m 0.00% Added +10.2k +10,213
60 Janney Montgomery Scott LLC 0.04% of their portfolio PHILADELPHIA, PA 77,61377.6k $10.6m $10.6m 0.04% Reduced -3.4k -3,399
61 NorthCrest Asset Manangement, LLC 0.40% of their portfolio PLYMOUTH, MN 74,60774.6k $10.2m $10.2m 0.40% Added +101 +101
62 LPL Financial LLC 0.01% of their portfolio FORT MILL, SC 72,10572.1k $9.9m $9.9m 0.01% Added +16.6k +16,644
63 FEDERATED HERMES, INC. 0.02% of their portfolio PITTSBURGH, PA 71,85071.8k $9.8m $9.8m 0.02% Added +37.8k +37,780
64 Crossmark Global Holdings, Inc. 0.21% of their portfolio HOUSTON, TX 71,72571.7k $9.8m $9.8m 0.21% Added +16 +16
65 Dash Acquisitions Inc. 3.65% of their portfolio WOODLAND HILLS, CA 67,27367.3k $9.2m $9.2m 3.65% Added +3.4k +3,381
66 KORNITZER CAPITAL MANAGEMENT INC /KS 0.17% of their portfolio SHAWNEE MISSION, KS 64,80064.8k $8.9m $8.9m 0.17% Unchanged
67 Mariner, LLC 0.02% of their portfolio Overland Park, KS 64,42164.4k $8.8m $8.8m 0.02% Reduced -700 -700
68 TUDOR INVESTMENT CORP ET AL 0.14% of their portfolio STAMFORD, CT 62,06462.1k $8.5m $8.5m 0.14% New
69 Qube Research & Technologies Ltd 0.03% of their portfolio LONDON, X0 61,87961.9k $8.5m $8.5m 0.03% Added +19.3k +19,330
70 OSAIC HOLDINGS, INC. 0.02% of their portfolio SCOTTSDALE, AZ 61,11361.1k $8.4m $8.4m 0.02% Added +1.5k +1,543
71 Creative Planning 0.01% of their portfolio OVERLAND PARK, KS 59,48959.5k $8.1m $8.1m 0.01% Added +4.8k +4,833
72 SCOTIA CAPITAL INC. 0.06% of their portfolio TORONTO, A6 59,24159.2k $8.1m $8.1m 0.06% Reduced -427 -427
73 Ethic Inc. 0.28% of their portfolio NEW YORK, NY 55,87155.9k $7.6m $7.6m 0.28% Added +2.1k +2,097
74 NATIONAL BANK OF CANADA /FI/ 0.01% of their portfolio MONTREAL, A8 54,43954.4k $7.4m $7.4m 0.01% Added +989 +989
75 GUARDIAN CAPITAL ADVISORS LP 0.87% of their portfolio TORONTO, A6 54,14554.1k $7.6m $7.6m 0.87% Reduced -2.1k -2,130
76 Sustainable Growth Advisers, LP 0.03% of their portfolio STAMFORD, CT 53,85653.9k $7.4m $7.4m 0.03% Reduced -833.8k -833,753
77 PFS INVESTMENTS INC. 0.12% of their portfolio DULUTH, GA 53,00253.0k $7.3m $7.3m 0.12% Reduced -4.8k -4,828
78 TOWNSQUARE CAPITAL LLC 0.13% of their portfolio Lehi, UT 52,14052.1k $7.1m $7.1m 0.13% Added +12.1k +12,074
79 FRANKLIN RESOURCES INC 0.00% of their portfolio San Mateo, CA 49,97050.0k $6.8m $6.8m 0.00% Added +3.5k +3,469
80 PRICE T ROWE ASSOCIATES INC /MD/ 0.00% of their portfolio BALTIMORE, MD 48,26948.3k $6.6m $6.6m 0.00% Added +2.1k +2,117
81 CHARTWELL INVESTMENT PARTNERS, LLC 0.24% of their portfolio BERYWN, PA 47,83247.8k $6.5m $6.5m 0.24% Added +1.2k +1,159
82 One Capital Management, LLC 0.29% of their portfolio WESTLAKE VILLAGE, CA 46,61546.6k $6.4m $6.4m 0.29% Added +476 +476
83 AMERICAN CENTURY COMPANIES INC 0.00% of their portfolio KANSAS CITY, MO 46,39446.4k $6.3m $6.3m 0.00% Added +7.6k +7,562
84 Orion Porfolio Solutions, LLC 0.07% of their portfolio OMAHA, NE 45,48245.5k $6.2m $6.2m 0.07% Added +3.5k +3,501
85 Orion Portfolio Solutions, LLC 0.07% of their portfolio Omaha, NE 45,48245.5k $6.2m $6.2m 0.07% Added +3.5k +3,501
86 Cox Capital Mgt LLC 4.40% of their portfolio ANDOVER, MA 43,58443.6k $6.0m $6.0m 4.40% Reduced -2.0k -2,050
87 Boston Trust Walden Corp 0.05% of their portfolio BOSTON, MA 42,74542.7k $5.8m $5.8m 0.05% Added +2.5k +2,540
88 Timber Creek Capital Management LLC 1.97% of their portfolio BOSTON, MA 41,85741.9k $5.7m $5.7m 1.97% Added +723 +723
89 O'SHAUGHNESSY ASSET MANAGEMENT, LLC 0.08% of their portfolio Stamford, CT 41,41541.4k $5.7m $5.7m 0.08% Added +2.3k +2,252
90 Henry James International Management Inc. 2.44% of their portfolio NEW YORK, NY 41,13041.1k $5.6m $5.6m 2.44% Added +375 +375
91 Rock Point Advisors, LLC 1.84% of their portfolio BURLINGTON, VT 41,06641.1k $5.6m $5.6m 1.84% Reduced -7.4k -7,360
92 DIVIDEND ASSETS CAPITAL, LLC 1.15% of their portfolio Ridgeland, SC 40,94640.9k $5.6m $5.6m 1.15% New
93 MML INVESTORS SERVICES, LLC 0.03% of their portfolio SPRINGFIELD, MA 40,64840.6k $5.6m $5.6m 0.03% Added +9.2k +9,244
94 DIMENSIONAL FUND ADVISORS LP 0.00% of their portfolio AUSTIN, TX 40,34740.3k $5.5m $5.5m 0.00% Added +2.5k +2,470
95 OLD MISSION CAPITAL LLC 0.20% of their portfolio CHICAGO, IL 40,31340.3k $5.5m $5.5m 0.20% New
96 KAYNE ANDERSON RUDNICK INVESTMENT MANAGEMENT LLC 0.02% of their portfolio LOS ANGELES, CA 40,12440.1k $5.5m $5.5m 0.02% Reduced -6.6k -6,611
97 Bayesian Capital Management, LP 0.59% of their portfolio Brooklyn, NY 39,88239.9k $5.5m $5.5m 0.59% Added +15.5k +15,500
98 ASSETMARK, INC 0.02% of their portfolio CONCORD, CA 39,18539.2k $5.4m $5.4m 0.02% Reduced -1.3k -1,297
99 PNC Financial Services Group, Inc. 0.00% of their portfolio Pittsburgh, PA 38,49438.5k $5.3m $5.3m 0.00% Added +492 +492
100 Capital Investment Counsel, Inc 0.98% of their portfolio RALEIGH, NC 37,17637.2k $5.1m $5.1m 0.98% Added +1.5k +1,491