Who owns SAP (SAP)
Which tracked institutional funds hold SAP, how they are positioned, and who is buying versus exiting — from SEC Form 13F-HR filings. See SAP company fundamentals →
Ownership as of the 2026-Q1 13F filings. 13F is disclosed up to 45 days after quarter-end, so the most recent quarter fills in over the following weeks.
How the tape is positioned
The tracked-fund tape on SAP is one-sided between 2025-Q4 and 2026-Q1: 107 added or opened and 366 trimmed or exited — on balance reducing.
A prompt to read the filings, not a verdict. 13F is a quarter-end snapshot disclosed up to 45 days late; a fund adds or exits for mandate, benchmark, and timing reasons that have nothing to do with a view on the stock. This is a starting question, not a signal to trade.
Conviction spread
SAP’s largest tracked holder by dollar value, Fisher Asset Management, LLC, sizes it at 0.8% of its own reported 13F book, while the median holder sizes it at 0.1% of theirs — a 0.7pp conviction gap — its largest holder concentrates the name more heavily than the typical one.
Book-share is each fund’s reported value in SAP divided by its whole reported 13F book, so it is comparable across funds of different sizes and is unaffected by stock splits. A higher share means a fund has committed more of its book to the name — a starting question about conviction, not a verdict or a signal to trade.
Institutional & insider positioning
Between 2025-Q4 and 2026-Q1, across 839 tracked filers holding SAP, 433 increased or opened the position and 482 reduced or closed it; over the same quarter, there were no open-market insider Form 4s.
This fuses two public signals for the same quarter — how tracked institutions changed their positions and whether insiders bought or sold in the open market. It describes what was filed; it is a starting question, not a verdict or a signal to trade.
New buyers & exits
Funds opening or closing a position in SAP between the 2025-Q4 and 2026-Q1 13F filings, and the largest changes among funds holding it in both. New buyers and exits are counted on fund presence (split-invariant); adds and trims are measured on reported value.
New buyers 42
- ARROWSTREET CAPITAL, LIMITED PARTNERSHIP$151M
- MENORA MIVTACHIM HOLDINGS LTD.$78M
- CIBC Bancorp USA Inc.$55M
- HOTCHKIS & WILEY CAPITAL MANAGEMENT LLC$44M
- DEPRINCE RACE & ZOLLO INC$28M
- T. Rowe Price Investment Management, Inc.$25M
Full exits 59
- SANDS CAPITAL MANAGEMENT, LLC$96M
- MANUFACTURERS LIFE INSURANCE COMPANY, THE$90M
- NORGES BANK$82M
- NOMURA ASSET MANAGEMENT INTERNATIONAL INC.$73M
- NewEdge Advisors, LLC$47M
- UNIO CAPITAL LLC$39M
Largest adds
- EAGLE CAPITAL MANAGEMENT LLC$337M
- GOLDMAN SACHS GROUP INC$199M
- D. E. Shaw & Co., Inc.$170M
- Tidal Investments LLC$167M
- UBS Group AG$157M
- MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.$153M
Largest trims
- Fisher Asset Management, LLC$1.1B
- FMR LLC$523M
- MORGAN STANLEY$275M
- WCM INVESTMENT MANAGEMENT, LLC$134M
- WINDACRE PARTNERSHIP LLC$122M
- NORTHERN TRUST CORP$120M
Institutional holders
One row per tracked fund, largest reported value first. “% of value” is the fund’s share of this security’s tracked institutional value — not of shares outstanding. Rows marked stale are from an earlier filing than the security’s latest quarter — that fund is absent from the newest snapshot (position exited, or reported under a different name).
| Fund | Shares | Reported value | % of value | Quarter |
|---|---|---|---|---|
| Fisher Asset Management, LLC trimmed | 14,534,441 | $2.5B | 17.1% | 2026-Q1 |
| EAGLE CAPITAL MANAGEMENT LLC added | 7,848,603 | $1.3B | 9.2% | 2026-Q1 |
| FMR LLC trimmed | 6,580,577 | $1.1B | 7.7% | 2026-Q1 |
| Capital International Investors added | 5,011,856 | $854M | 5.9% | 2026-Q1 |
| D. E. Shaw & Co., Inc. added | 4,256,672 | $729M | 5.0% | 2026-Q1 |
| MORGAN STANLEY trimmed | 3,616,017 | $619M | 4.2% | 2026-Q1 |
| GOLDMAN SACHS GROUP INC added | 3,300,374 | $565M | 3.9% | 2026-Q1 |
| WINDACRE PARTNERSHIP LLC added | 2,762,125 | $473M | 3.2% | 2026-Q1 |
| BANK OF AMERICA CORP /DE/ added | 2,018,383 | $346M | 2.4% | 2026-Q1 |
| NORTHERN TRUST CORP trimmed | 1,429,828 | $245M | 1.7% | 2026-Q1 |
| UBS Group AG added | 1,378,513 | $236M | 1.6% | 2026-Q1 |
| JPMORGAN CHASE & CO added | 1,277,111 | $215M | 1.5% | 2026-Q1 |
| AMERIPRISE FINANCIAL INC trimmed | 1,196,825 | $208M | 1.4% | 2026-Q1 |
| Quadrature Capital Ltd added | 1,147,405 | $196M | 1.3% | 2026-Q1 |
| BlackRock, Inc. trimmed | 1,054,200 | $180M | 1.2% | 2026-Q1 |
| Tidal Investments LLC added | 1,024,724 | $173M | 1.2% | 2026-Q1 |
| BNP PARIBAS FINANCIAL MARKETS added | 983,106 | $168M | 1.2% | 2026-Q1 |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. added | 894,797 | $153M | 1.0% | 2026-Q1 |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP added | 880,212 | $151M | 1.0% | 2026-Q1 |
| WCM INVESTMENT MANAGEMENT, LLC trimmed | 833,584 | $140M | 1.0% | 2026-Q1 |
| Ruane, Cunniff & Goldfarb L.P. added | 749,909 | $128M | 0.9% | 2026-Q1 |
| WELLS FARGO & COMPANY/MN trimmed | 715,143 | $122M | 0.8% | 2026-Q1 |
| JANE STREET GROUP, LLC added | 702,777 | $120M | 0.8% | 2026-Q1 |
| ROYAL BANK OF CANADA trimmed | 701,895 | $120M | 0.8% | 2026-Q1 |
| ENVESTNET ASSET MANAGEMENT INC trimmed | 701,062 | $120M | 0.8% | 2026-Q1 |
| PRINCIPAL FINANCIAL GROUP INC added | 550,531 | $94M | 0.6% | 2026-Q1 |
| Connor, Clark & Lunn Investment Management Ltd. added | 533,732 | $91M | 0.6% | 2026-Q1 |
| VOLORIDGE INVESTMENT MANAGEMENT, LLC added | 520,926 | $89M | 0.6% | 2026-Q1 |
| Sustainable Growth Advisers, LP trimmed | 474,104 | $81M | 0.6% | 2026-Q1 |
| BRANDES INVESTMENT PARTNERS, LP added | 465,756 | $80M | 0.5% | 2026-Q1 |
| CAUSEWAY CAPITAL MANAGEMENT LLC added | 456,005 | $78M | 0.5% | 2026-Q1 |
| MENORA MIVTACHIM HOLDINGS LTD. new | 453,650 | $78M | 0.5% | 2026-Q1 |
| TWO SIGMA INVESTMENTS, LP added | 445,436 | $76M | 0.5% | 2026-Q1 |
| BROWN ADVISORY INC added | 427,152 | $73M | 0.5% | 2026-Q1 |
| TD Asset Management Inc trimmed | 380,246 | $65M | 0.4% | 2026-Q1 |
| CRAWFORD INVESTMENT COUNSEL INC added | 373,176 | $64M | 0.4% | 2026-Q1 |
| Harding Loevner LP trimmed | 359,225 | $62M | 0.4% | 2026-Q1 |
| CITADEL ADVISORS LLC added | 339,207 | $58M | 0.4% | 2026-Q1 |
| CIBC Bancorp USA Inc. new | 320,121 | $55M | 0.4% | 2026-Q1 |
| DAVIS SELECTED ADVISERS added | 317,422 | $54M | 0.4% | 2026-Q1 |
| Aviso Financial Inc. added | 298,377 | $51M | 0.4% | 2026-Q1 |
| NATIXIS ADVISORS, LLC trimmed | 278,205 | $48M | 0.3% | 2026-Q1 |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ added | 228,455 | $47M | 0.3% | 2026-Q1 |
| FIRST TRUST ADVISORS LP added | 267,076 | $46M | 0.3% | 2026-Q1 |
| HOTCHKIS & WILEY CAPITAL MANAGEMENT LLC new | 256,495 | $44M | 0.3% | 2026-Q1 |
| Night Owl Capital Management, LLC added | 249,017 | $43M | 0.3% | 2026-Q1 |
| RAYMOND JAMES FINANCIAL INC trimmed | 246,552 | $42M | 0.3% | 2026-Q1 |
| Bank of New York Mellon Corp trimmed | 226,788 | $39M | 0.3% | 2026-Q1 |
| MARSHALL WACE, LLP added | 197,391 | $34M | 0.2% | 2026-Q1 |
| AMF Tjanstepension AB added | 195,895 | $34M | 0.2% | 2026-Q1 |
| Clearbridge Investments, LLC trimmed | 189,173 | $32M | 0.2% | 2026-Q1 |
| NEUBERGER BERMAN GROUP LLC trimmed | 185,256 | $32M | 0.2% | 2026-Q1 |
| 1832 Asset Management L.P. trimmed | 180,926 | $31M | 0.2% | 2026-Q1 |
| SEI INVESTMENTS CO trimmed | 178,975 | $31M | 0.2% | 2026-Q1 |
| BECKER CAPITAL MANAGEMENT INC added | 173,354 | $30M | 0.2% | 2026-Q1 |
| DEPRINCE RACE & ZOLLO INC new | 161,950 | $28M | 0.2% | 2026-Q1 |
| STIFEL FINANCIAL CORP added | 156,796 | $27M | 0.2% | 2026-Q1 |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC added | 154,861 | $27M | 0.2% | 2026-Q1 |
| HSBC HOLDINGS PLC added | 154,570 | $26M | 0.2% | 2026-Q1 |
| Petrus Trust Company, LTA | 152,542 | $26M | 0.2% | 2026-Q1 |
| JONES FINANCIAL COMPANIES LLLP added | 154,453 | $25M | 0.2% | 2026-Q1 |
| AMERICAN CENTURY COMPANIES INC added | 147,164 | $25M | 0.2% | 2026-Q1 |
| T. Rowe Price Investment Management, Inc. new | 145,632 | $25M | 0.2% | 2026-Q1 |
| Quantinno Capital Management LP added | 143,889 | $25M | 0.2% | 2026-Q1 |
| CIDEL ASSET MANAGEMENT INC added | 143,756 | $25M | 0.2% | 2026-Q1 |
| Cerity Partners LLC added | 139,770 | $24M | 0.2% | 2026-Q1 |
| RIVERBRIDGE PARTNERS LLC added | 138,939 | $24M | 0.2% | 2026-Q1 |
| TUDOR INVESTMENT CORP ET AL added | 138,812 | $24M | 0.2% | 2026-Q1 |
| COERENTE CAPITAL MANAGEMENT added | 137,685 | $24M | 0.2% | 2026-Q1 |
| PNC FINANCIAL SERVICES GROUP, INC. added | 132,988 | $23M | 0.2% | 2026-Q1 |
| Pathstone Holdings, LLC added | 129,408 | $22M | 0.2% | 2026-Q1 |
| Creative Planning added | 128,571 | $22M | 0.2% | 2026-Q1 |
| Fayez Sarofim & Co added | 127,893 | $22M | 0.2% | 2026-Q1 |
| LPL Financial LLC trimmed | 126,087 | $22M | 0.1% | 2026-Q1 |
| MARSICO CAPITAL MANAGEMENT LLC added | 125,302 | $21M | 0.1% | 2026-Q1 |
| Promethos Capital, LLC added | 124,631 | $21M | 0.1% | 2026-Q1 |
| Y-Intercept (Hong Kong) Ltd added | 122,505 | $21M | 0.1% | 2026-Q1 |
| Aberdeen Group plc new | 119,229 | $20M | 0.1% | 2026-Q1 |
| Vident Advisory, LLC added | 118,425 | $20M | 0.1% | 2026-Q1 |
| BANK OF MONTREAL /CAN/ trimmed | 114,420 | $20M | 0.1% | 2026-Q1 |
| Aquatic Capital Management LLC added | 106,141 | $18M | 0.1% | 2026-Q1 |
| Capital International, Inc./CA/ added | 104,811 | $18M | 0.1% | 2026-Q1 |
| AQR CAPITAL MANAGEMENT LLC added | 101,713 | $17M | 0.1% | 2026-Q1 |
| THORNBURG INVESTMENT MANAGEMENT INC added | 101,507 | $17M | 0.1% | 2026-Q1 |
| Obermeyer Wealth Partners trimmed | 101,445 | $17M | 0.1% | 2026-Q1 |
| Grantham, Mayo, Van Otterloo & Co. LLC added | 100,987 | $17M | 0.1% | 2026-Q1 |
| US BANCORP \DE\ trimmed | 97,947 | $17M | 0.1% | 2026-Q1 |
| MACQUARIE GROUP LTD trimmed | 995,327 | $266M | 1.8% | 2025-Q3 stale |
| SANDS CAPITAL MANAGEMENT, LLC trimmed | 394,117 | $96M | 0.7% | 2025-Q4 stale |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE trimmed | 370,155 | $90M | 0.6% | 2025-Q4 stale |
| Oribel Capital Management, LP new | 285,500 | $87M | 0.6% | 2025-Q2 stale |
| NORGES BANK new | 336,683 | $82M | 0.6% | 2025-Q4 stale |
| NOMURA ASSET MANAGEMENT INTERNATIONAL INC. new | 299,608 | $73M | 0.5% | 2025-Q4 stale |
| Trivest Advisors Ltd new | 172,000 | $52M | 0.4% | 2025-Q2 stale |
| NewEdge Advisors, LLC added | 193,458 | $47M | 0.3% | 2025-Q4 stale |
| JARISLOWSKY, FRASER Ltd added | 165,093 | $44M | 0.3% | 2025-Q3 stale |
| UNIO CAPITAL LLC added | 160,817 | $39M | 0.3% | 2025-Q4 stale |
| Main Street Research LLC added | 120,723 | $37M | 0.3% | 2025-Q2 stale |
| WT Asset Management Ltd added | 131,233 | $35M | 0.2% | 2025-Q1 stale |
| CIBC Private Wealth Group LLC added | 129,380 | $31M | 0.2% | 2025-Q4 stale |
Ownership over time
Tracked institutional holder count and total shares held by filing quarter (independent scales). The curated-era tail and any mid-ingest latest quarter are handled honestly — a partial quarter is not drawn as a collapse.
Reading this table
Funds hold the same stock for different reasons — an index fund “holds” almost everything, an active manager sizes a name to a mandate and a benchmark, and each fund entered at its own price and time. Because 13F is filed up to 45 days after quarter-end, every row is a backward-looking snapshot; a manager may have traded since. Share-class siblings (a company’s A and C shares) are rolled up to one line so a dual-class name is never double-counted. Compare like-for-like. A large holder is not an endorsement, and a fund exiting is not a warning — this is a starting question, not a verdict.
About 13F filings
A Form 13F is a quarterly disclosure that institutional investment managers with over $100 million in US-listed equities must file with the SEC. In plain English: it is a snapshot of the long stock positions a fund held at the end of a quarter. It covers long US-listed equities only — not short positions, options, cash, or private holdings — and the funds shown are the large sample we track, not the complete 13F universe.