Vault-13

SAP SE SAP

SPON ADR · ADR · CUSIP 803054204 · ISIN US8030542042

German software producer

705 institutional holders +58 vs Q4 2023
70,721,88870.7m shares reported held*
$13.8bnreported value*
112 new 228 added 259 reduced 55 sold out net bought ≈ $279.8m (+1.4m 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 ($37.4m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $195.03. Options: 16 managers hold calls ($114.8m notional), 15 hold puts ($193.1m).

Trends to Q1 2024

Institutional holders

Managers reporting a position, each quarter

0250500750Q3 22: 451Q4 22: 492Q1 23: 531Q2 23: 570Q3 23: 585Q4 23: 647Q1 24: 705705Q3 22Q1 23Q3 23Q1 24
Numbers
QuarterHolders
Q3 2022451
Q4 2022492
Q1 2023531
Q2 2023570
Q3 2023585
Q4 2023647
Q1 2024705

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 23Q3 23: 311 bought or addedQ3 23: 199 cut or sold outQ3 23Q4 23: 304 bought or addedQ4 23: 257 cut or sold outQ4 23Q1 24: 340 bought or addedQ1 24: 314 cut or sold outQ1 24
Numbers
QuarterBought or addedCut or sold out
Q4 2022234205
Q1 2023274205
Q2 2023258245
Q3 2023311199
Q4 2023304257
Q1 2024340314

Calls vs puts

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

CallsPuts
$0$100m$200m$300mQ2 23 calls: $106.4mQ2 23 puts: $266.2mQ2 23P/C 2.50Q3 23 calls: $117.4mQ3 23 puts: $244.5mQ3 23P/C 2.08Q4 23 calls: $131.6mQ4 23 puts: $230.0mQ4 23P/C 1.75Q1 24 calls: $114.8mQ1 24 puts: $193.1mQ1 24P/C 1.68
Numbers
QuarterCallsPutsP/C
Q2 2023$106.4m$266.2m2.50
Q3 2023$117.4m$244.5m2.08
Q4 2023$131.6m$230.0m1.75
Q1 2024$114.8m$193.1m1.68

Biggest buyers

MORGAN STANLEY Added +2,900,025+2.9m
GROUPAMA ASSET MANAGMENT New +642,377+642.4k
CITIGROUP INC Added +604,582+604.6k
BANK OF AMERICA CORP /DE/ Added +385,268+385.3k
WESTFIELD CAPITAL MANAGEMENT CO LP New +302,188+302.2k
FMR LLC Added +288,006+288.0k
Junto Capital Management LP New +226,976+227.0k
Optiver Holding B.V. New +118,396+118.4k
PRINCIPAL FINANCIAL GROUP INC Added +108,729+108.7k
CIDEL ASSET MANAGEMENT INC New +104,993+105.0k

Biggest sellers

Harding Loevner LP Reduced -1,573,217-1.6m
FIDUCIARY MANAGEMENT INC /WI/ Sold out -1,077,713-1.1m
FIRST TRUST ADVISORS LP Reduced -455,640-455.6k
Fisher Asset Management, LLC Reduced -266,665-266.7k
ARROWSTREET CAPITAL, LIMITED PARTNERSHIP Reduced -206,555-206.6k
EAGLE CAPITAL MANAGEMENT LLC Reduced -157,954-158.0k
Clearbridge Investments, LLC Reduced -156,907-156.9k
WINDACRE PARTNERSHIP LLC Reduced -147,400-147.4k
BlackRock Inc. Reduced -140,182-140.2k
WELLS FARGO & COMPANY/MN Reduced -120,830-120.8k

Biggest calls

CITADEL ADVISORS LLC Reduced $37.1m190.0k shares
Optiver Holding B.V. Reduced $21.9m112.1k shares
Jefferies Financial Group Inc. Added $19.8m101.5k shares
SIMPLEX TRADING, LLC Reduced $9.8m50.2k shares
PEAK6 Investments LLC Added $8.0m41.1k shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $6.3m32.5k shares
Walleye Capital LLC Reduced $3.1m16.0k shares
Walleye Trading LLC Reduced $2.9m14.9k shares
WOLVERINE TRADING, LLC Reduced $2.2m11.1k shares
GTS SECURITIES LLC Reduced $2.0m10.3k shares

Biggest puts

Optiver Holding B.V. Reduced $53.6m274.8k shares
Jefferies Financial Group Inc. Added $37.1m190.0k shares
CITADEL ADVISORS LLC Reduced $33.0m169.1k shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $14.9m76.2k shares
Walleye Trading LLC Reduced $14.7m75.3k shares
Walleye Capital LLC Reduced $14.6m74.7k shares
SIMPLEX TRADING, LLC Reduced $14.5m74.1k shares
MILLENNIUM MANAGEMENT LLC Reduced $5.5m28.3k shares
GTS SECURITIES LLC Reduced $2.6m13.2k shares
WOLVERINE TRADING, LLC Reduced $1.3m6.7k 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 Q1 2024

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 2024.

Holders, Q1 2024

#ManagerLocationShares Value% of their portfolioChangeShares change
1 Capital International Investors 0.39% of their portfolio Los Angeles, CA 9,950,79710.0m $1.9bn $1.9bn 0.39% Added +3.2k +3,184
2 MORGAN STANLEY 0.04% of their portfolio NEW YORK, NY 8,538,6458.5m $1.7bn $1.7bn 0.04% Added +2.9m +2,900,025
3 FMR LLC 0.08% of their portfolio BOSTON, MA 6,332,6346.3m $1.2bn $1.2bn 0.08% Added +288.0k +288,006
4 Fisher Asset Management, LLC 0.46% of their portfolio PLANO, TX 5,041,3785.0m $983.2m $983.2m 0.46% Reduced -266.7k -266,665
5 EAGLE CAPITAL MANAGEMENT LLC 3.23% of their portfolio New York, NY 4,278,7704.3m $834.5m $834.5m 3.23% Reduced -158.0k -157,954
6 Harding Loevner LP 4.65% of their portfolio Bridgewater, NJ 3,859,6733.9m $752.8m $752.8m 4.65% Reduced -1.6m -1,573,217
7 Clearbridge Investments, LLC 0.30% of their portfolio NEW YORK, NY 1,918,0321.9m $374.1m $374.1m 0.30% Reduced -156.9k -156,907
8 WINDACRE PARTNERSHIP LLC 5.00% of their portfolio HOUSTON, TX 1,864,0001.9m $363.5m $363.5m 5.00% Reduced -147.4k -147,400
9 BANK OF AMERICA CORP /DE/ 0.03% of their portfolio CHARLOTTE, NC 1,604,7551.6m $313.0m $313.0m 0.03% Added +385.3k +385,268
10 GOLDMAN SACHS GROUP INC 0.06% of their portfolio NEW YORK, NY 1,469,0191.5m $286.5m $286.5m 0.06% Added +69.4k +69,383
11 AMERIPRISE FINANCIAL INC 0.07% of their portfolio MINNEAPOLIS, MN 1,317,5791.3m $260.1m $260.1m 0.07% Reduced -41.6k -41,564
12 POLEN CAPITAL MANAGEMENT LLC 0.57% of their portfolio Boca Raton, FL 1,274,7261.3m $248.6m $248.6m 0.57% Added +32.0k +32,032
13 JPMORGAN CHASE & CO 0.01% of their portfolio NEW YORK, NY 1,078,5781.1m $210.4m $210.4m 0.01% Reduced -116.6k -116,612
14 WELLS FARGO & COMPANY/MN 0.05% of their portfolio SAN FRANCISCO, CA 1,044,8201.0m $203.8m $203.8m 0.05% Reduced -120.8k -120,830
15 BlackRock Inc. 0.00% of their portfolio New York, NY 1,043,4781.0m $203.5m $203.5m 0.00% Reduced -140.2k -140,182
16 ENVESTNET ASSET MANAGEMENT INC 0.08% of their portfolio Berwyn, PA 1,036,0241.0m $202.1m $202.1m 0.08% Reduced -50.6k -50,634
17 ARROWSTREET CAPITAL, LIMITED PARTNERSHIP 0.18% of their portfolio BOSTON, MA 1,016,3811.0m $198.2m $198.2m 0.18% Reduced -206.6k -206,555
18 NORTHERN TRUST CORP 0.03% of their portfolio CHICAGO, IL 837,018837.0k $163.2m $163.2m 0.03% Reduced -7.2k -7,201
19 ROYAL BANK OF CANADA 0.04% of their portfolio TORONTO, A6 791,129791.1k $154.3m $154.3m 0.04% Reduced -40.1k -40,060
20 CITIGROUP INC 0.16% of their portfolio NEW YORK, NY 744,936744.9k $145.3m $145.3m 0.16% Added +604.6k +604,582
21 GROUPAMA ASSET MANAGMENT 2.28% of their portfolio PARIS, I0 642,377642.4k $125.2m $125.2m 2.28% New
22 PRINCIPAL FINANCIAL GROUP INC 0.07% of their portfolio DES MOINES, IA 621,417621.4k $121.2m $121.2m 0.07% Added +108.7k +108,729
23 RAYMOND JAMES & ASSOCIATES 0.08% of their portfolio ST PETERSBURG, FL 609,523609.5k $118.9m $118.9m 0.08% Reduced -27.3k -27,253
24 LAZARD ASSET MANAGEMENT LLC 0.11% of their portfolio NEW YORK, NY 462,370462.4k $90.2m $90.2m 0.11% Reduced -10.5k -10,464
25 MAR VISTA INVESTMENT PARTNERS LLC 3.75% of their portfolio LOS ANGELES, CA 440,969441.0k $86.0m $86.0m 3.75% Reduced -22.8k -22,766
26 CRAWFORD INVESTMENT COUNSEL INC 1.59% of their portfolio ATLANTA, GA 438,514438.5k $85.5m $85.5m 1.59% Reduced -13.0k -12,974
27 Bank of New York Mellon Corp 0.01% of their portfolio NEW YORK, NY 395,360395.4k $77.1m $77.1m 0.01% Reduced -35.3k -35,287
28 NEUBERGER BERMAN GROUP LLC 0.06% of their portfolio NEW YORK, NY 347,898347.9k $67.8m $67.8m 0.06% Reduced -12.1k -12,059
29 Credential Qtrade Securities Inc. 3.54% of their portfolio VANCOUVER, A1 338,580338.6k $66.0m $66.0m 3.54% Added +14.8k +14,840
30 NATIXIS ADVISORS, LLC 0.15% of their portfolio Boston, MA 327,218327.2k $63.8m $63.8m 0.15% Reduced -77.5k -77,512
31 WESTFIELD CAPITAL MANAGEMENT CO LP 0.31% of their portfolio BOSTON, MA 302,188302.2k $58.9m $58.9m 0.31% New
32 MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.05% of their portfolio Toronto, A6 299,776299.8k $58.5m $58.5m 0.05% Reduced -24.2k -24,175
33 FIRST TRUST ADVISORS LP 0.06% of their portfolio Wheaton, IL 285,021285.0k $55.6m $55.6m 0.06% Reduced -455.6k -455,640
34 BRANDES INVESTMENT PARTNERS, LP 0.69% of their portfolio LA JOLLA, CA 274,366274.4k $53.5m $53.5m 0.69% Reduced -25.8k -25,763
35 Junto Capital Management LP 0.98% of their portfolio NEW YORK, NY 226,976227.0k $44.3m $44.3m 0.98% New
36 Night Owl Capital Management, LLC 6.42% of their portfolio GREENWICH, CT 216,899216.9k $42.3m $42.3m 6.42% Added +6.4k +6,415
37 BECKER CAPITAL MANAGEMENT INC 1.36% of their portfolio Portland, OR 203,077203.1k $39.6m $39.6m 1.36% Reduced -4.2k -4,250
38 CAUSEWAY CAPITAL MANAGEMENT LLC 1.03% of their portfolio LOS ANGELES, CA 201,557201.6k $39.3m $39.3m 1.03% Reduced -18.4k -18,415
39 STIFEL FINANCIAL CORP 0.04% of their portfolio ST. LOUIS, MO 195,740195.7k $38.2m $38.2m 0.04% Reduced -6.8k -6,845
40 NewEdge Advisors, LLC 0.31% of their portfolio NEW ORLEANS, LA 182,372182.4k $35.6m $35.6m 0.31% Added +16.2k +16,246
41 BANK OF MONTREAL /CAN/ 0.01% of their portfolio TORONTO, A6 176,053176.1k $34.6m $34.6m 0.01% Reduced -10.2k -10,188
42 SEI INVESTMENTS CO 0.05% of their portfolio OAKS, PA 161,479161.5k $31.5m $31.5m 0.05% Reduced -796 -796
43 US BANCORP \DE\ 0.04% of their portfolio MINNEAPOLIS, MN 151,358151.4k $29.5m $29.5m 0.04% Reduced -35.2k -35,228
44 Cardinal Capital Management, Inc. 1.30% of their portfolio WINNIPEG, A2 150,415150.4k $29.3m $29.3m 1.30% Reduced -5.1k -5,061
45 JARISLOWSKY, FRASER Ltd 0.16% of their portfolio MONTREAL, A8 147,336147.3k $28.7m $28.7m 0.16% Reduced -12.2k -12,242
46 Russell Investments Group, Ltd. 0.04% of their portfolio Seattle, WA 143,887143.9k $28.1m $28.1m 0.04% Added +23.4k +23,353
47 MASSACHUSETTS FINANCIAL SERVICES CO /MA/ 0.01% of their portfolio Boston, MA 128,440128.4k $25.0m $25.0m 0.01% Reduced -934 -934
48 Optiver Holding B.V. 0.96% of their portfolio AMSTERDAM, P7 118,396118.4k $23.1m $23.1m 0.96% New
49 Davis Selected Advisers 0.13% of their portfolio Tucson, AZ 117,052117.1k $22.8m $22.8m 0.13% Reduced -22.3k -22,315
50 Sustainable Growth Advisers, LP 0.10% of their portfolio STAMFORD, CT 116,571116.6k $22.7m $22.7m 0.10% Added +65.9k +65,893
51 CITADEL ADVISORS LLC 0.02% of their portfolio MIAMI, FL 113,455113.5k $22.1m $22.1m 0.02% Added +91.2k +91,181
52 Foresight Global Investors, Inc. 10.88% of their portfolio PURCHASE, NY 113,328113.3k $22.1m $22.1m 10.88% Added +14.6k +14,550
53 COERENTE CAPITAL MANAGEMENT 4.08% of their portfolio TORONTO, A6 110,612110.6k $21.6m $21.6m 4.08% Reduced -1.1k -1,115
54 Cresset Asset Management, LLC 0.10% of their portfolio Chicago, IL 109,433109.4k $21.3m $21.3m 0.10% Added +12.3k +12,260
55 HANTZ FINANCIAL SERVICES, INC. 0.42% of their portfolio SOUTHFIELD, MI 109,262109.3k $21.3m $21.3m 0.42% Reduced -11.2k -11,192
56 CAMBIAR INVESTORS LLC 0.79% of their portfolio Denver, CO 108,183108.2k $21.1m $21.1m 0.79% Reduced -12.7k -12,654
57 CIDEL ASSET MANAGEMENT INC 1.56% of their portfolio TORONTO, A6 104,993105.0k $20.5m $20.5m 1.56% New
58 Promethos Capital, LLC 11.45% of their portfolio BOSTON, MA 99,981100.0k $19.5m $19.5m 11.45% Added +8.1k +8,096
59 LPL Financial LLC 0.01% of their portfolio FORT MILL, SC 99,85499.9k $19.5m $19.5m 0.01% Reduced -5.8k -5,812
60 Boston Common Asset Management, LLC 0.46% of their portfolio BOSTON, MA 97,76397.8k $19.1m $19.1m 0.46% Reduced -7.4k -7,386
61 Pathstone Holdings, LLC 0.09% of their portfolio ENGLEWOOD, NJ 95,11395.1k $18.5m $18.5m 0.09% Added +19.0k +18,974
62 BARCLAYS PLC 0.01% of their portfolio LONDON, X0 89,60089.6k $17.5m $17.5m 0.01% Added +89.4k +89,400
63 PNC Financial Services Group, Inc. 0.01% of their portfolio Pittsburgh, PA 87,39187.4k $17.0m $17.0m 0.01% Reduced -843 -843
64 KORNITZER CAPITAL MANAGEMENT INC /KS 0.31% of their portfolio SHAWNEE MISSION, KS 87,39187.4k $17.0m $17.0m 0.31% Added +16.0k +16,045
65 QRG CAPITAL MANAGEMENT, INC. 0.21% of their portfolio BERWYN, PA 85,34685.3k $16.6m $16.6m 0.21% Added +20.2k +20,213
66 NATIONAL BANK OF CANADA /FI/ 0.03% of their portfolio MONTREAL, A8 84,81784.8k $16.1m $16.1m 0.03% Added +875 +875
67 OPPENHEIMER ASSET MANAGEMENT INC. 0.24% of their portfolio NEW YORK, NY 83,75783.8k $16.3m $16.3m 0.24% Reduced -10.0k -9,962
68 MILLENNIUM MANAGEMENT LLC 0.01% of their portfolio NEW YORK, NY 82,24882.2k $16.0m $16.0m 0.01% New
69 MARSICO CAPITAL MANAGEMENT LLC 0.52% of their portfolio DENVER, CO 80,77880.8k $15.8m $15.8m 0.52% Added +15.1k +15,052
70 FEDERATED HERMES, INC. 0.03% of their portfolio PITTSBURGH, PA 77,69977.7k $15.2m $15.2m 0.03% Reduced -5.9k -5,863
71 Creative Planning 0.02% of their portfolio OVERLAND PARK, KS 77,02477.0k $15.0m $15.0m 0.02% Added +7.5k +7,488
72 GQG Partners LLC 0.02% of their portfolio FT. LAUDERDALE, FL 76,60376.6k $14.9m $14.9m 0.02% New
73 TRUIST FINANCIAL CORP 0.02% of their portfolio CHARLOTTE, NC 76,07976.1k $14.8m $14.8m 0.02% Reduced -9.3k -9,334
74 NorthCrest Asset Manangement, LLC 0.49% of their portfolio PLYMOUTH, MN 74,37374.4k $14.5m $14.5m 0.49% Reduced -84 -84
75 AMERICAN CENTURY COMPANIES INC 0.01% of their portfolio KANSAS CITY, MO 72,04072.0k $14.0m $14.0m 0.01% Added +6.2k +6,190
76 Dash Acquisitions Inc. 4.06% of their portfolio WOODLAND HILLS, CA 71,43871.4k $12.9m $12.9m 4.06% Added +2.4k +2,355
77 Ethic Inc. 0.35% of their portfolio NEW YORK, NY 70,52870.5k $13.8m $13.8m 0.35% Added +3.7k +3,666
78 Capital International, Inc./CA/ 0.18% of their portfolio Los Angeles, CA 67,34767.3k $13.1m $13.1m 0.18% Added +10.8k +10,750
79 O'SHAUGHNESSY ASSET MANAGEMENT, LLC 0.14% of their portfolio Stamford, CT 66,92366.9k $13.1m $13.1m 0.14% Added +10.4k +10,446
80 UBS Group AG 0.00% of their portfolio ZURICH, V8 66,59866.6k $13.0m $13.0m 0.00% Reduced -252 -252
81 Janney Montgomery Scott LLC 0.04% of their portfolio PHILADELPHIA, PA 65,58965.6k $12.8m $12.8m 0.04% Reduced -5.2k -5,220
82 Kodai Capital Management LP 0.30% of their portfolio CHICAGO, IL 65,12465.1k $12.7m $12.7m 0.30% New
83 Invesco Ltd. 0.00% of their portfolio ATLANTA, GA 65,05465.1k $12.7m $12.7m 0.00% Reduced -19.4k -19,433
84 Crossmark Global Holdings, Inc. 0.24% of their portfolio HOUSTON, TX 64,17664.2k $12.5m $12.5m 0.24% Reduced -3.6k -3,572
85 DIVIDEND ASSETS CAPITAL, LLC 2.53% of their portfolio Ridgeland, SC 61,57661.6k $12.0m $12.0m 2.53% Reduced -5.7k -5,712
86 MERCER GLOBAL ADVISORS INC /ADV 0.03% of their portfolio DENVER, CO 61,40761.4k $12.0m $12.0m 0.03% Added +13.9k +13,894
87 SCOTIA CAPITAL INC. 0.07% of their portfolio TORONTO, A6 59,05659.1k $11.5m $11.5m 0.07% Reduced -2.1k -2,083
88 TOWNSQUARE CAPITAL LLC 0.17% of their portfolio Lehi, UT 58,97659.0k $11.5m $11.5m 0.17% Added +5.7k +5,742
89 Cerity Partners LLC 0.03% of their portfolio NEW YORK, NY 58,32258.3k $11.4m $11.4m 0.03% Added +22.9k +22,917
90 PRICE T ROWE ASSOCIATES INC /MD/ 0.00% of their portfolio BALTIMORE, MD 57,75157.8k $11.3m $11.3m 0.00% Added +1.8k +1,807
91 Orion Porfolio Solutions, LLC 0.12% of their portfolio OMAHA, NE 57,65357.7k $11.2m $11.2m 0.12% Reduced -2.5k -2,470
92 Orion Portfolio Solutions, LLC 0.12% of their portfolio Omaha, NE 57,65357.7k $11.2m $11.2m 0.12% Reduced -2.5k -2,470
93 ASSETMARK, INC 0.04% of their portfolio CONCORD, CA 56,33756.3k $11.0m $11.0m 0.04% Added +399 +399
94 ADAGE CAPITAL PARTNERS GP, L.L.C. 0.02% of their portfolio Boston, MA 55,00055.0k $10.7m $10.7m 0.02% Added +5.0k +5,000
95 CHARTWELL INVESTMENT PARTNERS, LLC 0.37% of their portfolio BERYWN, PA 54,67054.7k $10.7m $10.7m 0.37% Added +2.4k +2,446
96 MML INVESTORS SERVICES, LLC 0.04% of their portfolio SPRINGFIELD, MA 53,70553.7k $10.5m $10.5m 0.04% Added +88 +88
97 GUARDIAN CAPITAL ADVISORS LP 0.96% of their portfolio TORONTO, A6 49,71449.7k $8.9m $8.9m 0.96% Reduced -2.0k -1,980
98 FRANKLIN RESOURCES INC 0.00% of their portfolio San Mateo, CA 49,66749.7k $9.7m $9.7m 0.00% Added +141 +141
99 Henry James International Management Inc. 2.94% of their portfolio NEW YORK, NY 48,89548.9k $9.5m $9.5m 2.94% Added +7.8k +7,765
100 Mariner, LLC 0.02% of their portfolio Overland Park, KS 47,51347.5k $9.3m $9.3m 0.02% Reduced -22.4k -22,352