Vault-13

SAPIENS INTL CORP N V SPNS

SHS · Common Stock · CUSIP G7T16G103 · ISIN KYG7T16G1039

32 institutional holders -135 vs Q3 2025
583,493583.5k shares reported held*
$25.4mreported value*
4 new 10 added 4 reduced 140 sold out net sold ≈ $1.1bn (-24.5m 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 ($11.2k this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $43.51. Options: 1 managers hold calls ($31.9k notional), 2 hold puts ($772).

Trends to Q4 2025

Institutional holders

Managers reporting a position, each quarter

0100200Q3 22: 115Q4 22: 117Q1 23: 122Q2 23: 134Q3 23: 142Q4 23: 152Q1 24: 157Q2 24: 159Q3 24: 171Q4 24: 171Q1 25: 175Q2 25: 166Q3 25: 167Q4 25: 3232Q3 22Q2 23Q1 24Q4 24Q4 25
Numbers
QuarterHolders
Q3 2022115
Q4 2022117
Q1 2023122
Q2 2023134
Q3 2023142
Q4 2023152
Q1 2024157
Q2 2024159
Q3 2024171
Q4 2024171
Q1 2025175
Q2 2025166
Q3 2025167
Q4 202532

Buyers vs sellers

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

Bought or addedCut or sold out
2000200Q1 24: 79 bought or addedQ1 24: 70 cut or sold outQ2 24: 88 bought or addedQ2 24: 64 cut or sold outQ2 24Q3 24: 84 bought or addedQ3 24: 63 cut or sold outQ4 24: 74 bought or addedQ4 24: 81 cut or sold outQ4 24Q1 25: 89 bought or addedQ1 25: 60 cut or sold outQ2 25: 80 bought or addedQ2 25: 70 cut or sold outQ2 25Q3 25: 101 bought or addedQ3 25: 94 cut or sold outQ4 25: 14 bought or addedQ4 25: 144 cut or sold outQ4 25
Numbers
QuarterBought or addedCut or sold out
Q1 20247970
Q2 20248864
Q3 20248463
Q4 20247481
Q1 20258960
Q2 20258070
Q3 202510194
Q4 202514144

Calls vs puts

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

CallsPuts
$0$2m$4m$6mQ1 25 calls: $140.9kQ1 25 puts: $8.1kQ1 25P/C 0.06Q2 25 calls: $0Q2 25 puts: $0Q2 25P/C —Q3 25 calls: $5.6mQ3 25 puts: $683.1kQ3 25P/C 0.12Q4 25 calls: $31.9kQ4 25 puts: $772Q4 25P/C 0.02
Numbers
QuarterCallsPutsP/C
Q1 2025$140.9k$8.1k0.06
Q2 2025$0$0—
Q3 2025$5.6m$683.1k0.12
Q4 2025$31.9k$7720.02

Biggest buyers

Biggest sellers

FIL Ltd Sold out -4,263,000-4.3m
BlackRock, Inc. Sold out -2,125,877-2.1m
HBK INVESTMENTS L P Sold out -1,950,865-2.0m
GOLDMAN SACHS GROUP INC Sold out -1,688,763-1.7m
VANGUARD GROUP INC Sold out -1,387,994-1.4m
Nine Ten Capital Management LLC Sold out -1,149,230-1.1m
JPMORGAN CHASE & CO Sold out -1,106,292-1.1m
DIMENSIONAL FUND ADVISORS LP Sold out -615,307-615.3k
CITIGROUP INC Sold out -615,258-615.3k
SOROS FUND MANAGEMENT LLC Sold out -603,291-603.3k

Biggest calls

SIMPLEX TRADING, LLC Added $31.9k10.2k shares

Biggest puts

SIMPLEX TRADING, LLC Added $7722.7k shares
DV EQUITIES, LLC First filing $03.0k 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.

Major shareholders (over 5%)

Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.

No one currently above 5% in the filings since 19 Dec 2024.

Fell to 5% or below in the last year: FIL Ltd (0.0%, 2026-02-05), FORMULA SYSTEMS (1985) LTD (0.0%, 2025-12-17)

Holders, Q4 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 ODDO BHF ASSET MANAGEMENT SAS 0.46% of their portfolio PARIS, I0 283,763283.8k $12.3m $12.3m 0.46% Not comparable
2 KRYGER CAPITAL Ltd 0.80% of their portfolio LONDON, X0 237,032237.0k $10.3m $10.3m 0.80% Added +3.2k +3,188
3 Nuveen, LLC 0.00% of their portfolio CHARLOTTE, NC 26,32126.3k $1.2m $1.2m 0.00% Reduced -80.4k -80,387
4 XTX Topco Ltd 0.01% of their portfolio LONDON, X0 11,73811.7k $510.0k $510.0k 0.01% New
5 MERCER GLOBAL ADVISORS INC /ADV 0.00% of their portfolio DENVER, CO 6,2836.3k $273.0k $273.0k 0.00% Added +898 +898
6 CRAWFORD INVESTMENT COUNSEL INC 0.00% of their portfolio ATLANTA, GA 6,0006.0k $260.7k $260.7k 0.00% Unchanged
7 Brooklyn Investment Group 0.01% of their portfolio NEW YORK, NY 5,9836.0k $260.0k $260.0k 0.01% New
8 Russell Investments Group, Ltd. 0.00% of their portfolio Seattle, WA 1,2211.2k $53.1k $53.1k 0.00% Reduced -26.0k -26,019
9 GAMMA Investing LLC 0.00% of their portfolio FOSTER CITY, CA 1,1071.1k $48.1k $48.1k 0.00% Added +86 +86
10 Versant Capital Management, Inc 0.01% of their portfolio PHOENIX, AZ 1,0361.0k $45.3k $45.3k 0.01% Added +1 +1
11 EverSource Wealth Advisors, LLC 0.00% of their portfolio BIRMINGHAM, AL 623623 $27.1k $27.1k 0.00% Added +122 +122
12 DekaBank Deutsche Girozentrale 0.00% of their portfolio FRANKFURT, 2M 523523 $18.0k $18.0k 0.00% Unchanged
13 Garton & Associates Financial Advisors LLC 0.01% of their portfolio LOUISVILLE, KY 500500 $21.7k $21.7k 0.01% First filing
14 Altshuler Shaham Ltd 0.00% of their portfolio Tel Aviv, L3 425425 $18.6k $18.6k 0.00% Reduced -22.2k -22,179
15 TD Waterhouse Canada Inc. 0.00% of their portfolio TORONTO, A6 381381 $16.6k $16.6k 0.00% Unchanged
16 Farther Finance Advisors, LLC 0.00% of their portfolio SAN FRANCISCO, CA 257257 $11.2k $11.2k 0.00% Added +208 +208
17 SIMPLEX TRADING, LLC 0.00% of their portfolio CHICAGO, IL 100100 $0 $0 0.00% New
18 Fortitude Family Office, LLC 0.00% of their portfolio SCOTTSDALE, AZ 8383 $3.6k $3.6k 0.00% Unchanged
19 ROTHSCHILD INVESTMENT LLC 0.00% of their portfolio CHICAGO, IL 7878 $3.4k $3.4k 0.00% Added +3 +3
20 Rockefeller Capital Management L.P. 0.00% of their portfolio NEW YORK, NY 5858 $2.5k $2.5k 0.00% Reduced -19 -19
21 Cornerstone Financial Management LLC 0.00% of their portfolio BURLINGTON, MA 5858 $2.5k $2.5k 0.00% First filing
22 MassMutual Private Wealth & Trust, FSB 0.00% of their portfolio Windsor, CT 4040 $1.7k $1.7k 0.00% Added +7 +7
23 Essential Partners LLC 0.00% of their portfolio RANCHO SANTA FE, CA 2828 $1.2k $1.2k 0.00% Added +5 +5
24 Parallel Advisors, LLC 0.00% of their portfolio SAN FRANCISCO, CA 2525 $1.1k $1.1k 0.00% Added +7 +7
25 Rossby Financial, LCC 0.00% of their portfolio MELBOURNE, FL 2020 $869 $869 0.00% Unchanged
26 RAFFA WEALTH MANAGEMENT, LLC 0.00% of their portfolio WASHINGTON, DC 1717 $739 $739 0.00% Unchanged
27 Bare Financial Services, Inc 0.00% of their portfolio GAP, PA 1616 $695 $695 0.00% Unchanged
28 Sunbelt Securities, Inc. 0.00% of their portfolio HOUSTON, TX 1414 $608 $608 0.00% Unchanged
29 IFP Advisors, Inc 0.00% of their portfolio TAMPA, FL 1111 $478 $478 0.00% Unchanged
30 BESSEMER GROUP INC 0.00% of their portfolio WOODBRIDGE, NJ 77 $0 $0 0.00% Unchanged
31 HUNTINGTON NATIONAL BANK 0.00% of their portfolio COLUMBUS, OH 11 $43 $43 0.00% Unchanged
32 Root Financial Partners, LLC 0.00% of their portfolio ENCINITAS, CA 11 $43 $43 0.00% New