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928 hedge funds and large institutions have $19.3B invested in SAP in 2025 Q3 according to their latest regulatory filings, with 109 funds opening new positions, 338 increasing their positions, 334 reducing their positions, and 136 closing their positions.

New
Increased
Maintained
Reduced
Closed

1% more repeat investments, than reductions

Existing positions increased: 338 | Existing positions reduced: 334

0.04% more ownership

Funds ownership: 5.85%5.89% (+0.04%)

4% less funds holding

Funds holding: 968928 (-40)

12% less capital invested

Capital invested by funds: $21.9B → $19.3B (-$2.54B)

18% less call options, than puts

Call options by funds: $322M | Put options by funds: $393M

20% less first-time investments, than exits

New positions opened: 109 | Existing positions closed: 136

27% less funds holding in top 10

Funds holding in top 10: 1511 (-4)

Holders
928
Holders Change
-40
Holders Change %
-4.13%
% of All Funds
12.18%
Holding in Top 10
11
Holding in Top 10 Change
-4
Holding in Top 10 Change %
-26.67%
% of All Funds
0.14%
New
109
Increased
338
Reduced
334
Closed
136
Calls
$322M
Puts
$393M
Net Calls
-$71.3M
Net Calls Change
-$62.1M
Name Holding Trade Value Shares
Change
Change in
Stake
CJ
926
Caitlin John
Michigan
$578 +$562 +2 New
IW
927
Imprint Wealth
South Carolina
$534 +$562 +2 New
WBC
928
West Branch Capital
Massachusetts
$276
OCM
929
Oribel Capital Management
New York
-$86.8M -285,500 Closed
TA
930
Trivest Advisors
Hong Kong
-$52.3M -172,000 Closed
MSR
931
Main Street Research
Connecticut
-$36.7M -120,723 Closed
BFM
932
Boothbay Fund Management
New York
-$16.5M -54,323 Closed
Hudson Bay Capital Management
933
Hudson Bay Capital Management
Connecticut
-$13.5M -44,247 Closed
DWM
934
Dakota Wealth Management
Florida
-$12.2M -40,164 Closed
PMAM
935
Picton Mahoney Asset Management
Ontario, Canada
-$9.47M -31,130 Closed
SC
936
SummitTX Capital
Texas
-$6.63M -21,804 Closed
MCM
937
Maytus Capital Management
New York
-$6.05M -19,905 Closed
JSC
938
Jackson Square Capital
California
-$5.84M -19,188 Closed
CIC
939
Chase Investment Counsel
Virginia
-$5.33M -17,515 Closed
RFWA
940
RPg Family Wealth Advisory
Massachusetts
-$5.23M -17,184 Closed
GCM
941
Goldstream Capital Management
Hong Kong
-$3.69M -12,143 Closed
WT
942
Whittier Trust
California
-$3.28M -10,784 Closed
HCS
943
Himension Capital (Singapore)
Singapore
-$3.21M -10,572 Closed
EGM
944
Engineers Gate Manager
New York
-$3.03M -9,977 Closed
MPA
945
Marvin & Palmer Associates
Delaware
-$3.01M -9,882 Closed
TI
946
Trexquant Investment
Connecticut
-$3M -9,875 Closed
VF
947
Virtu Financial
New York
-$2.1M -6,893 Closed
IC
948
Iconiq Capital
California
-$2.03M -6,672 Closed
CCP
949
Clough Capital Partners
Massachusetts
-$1.92M -6,319 Closed
OCAM
950
Onex Canada Asset Management
Ontario, Canada
-$1.89M -6,209 Closed

SAP Hedge Fund Activity: Q3 2025 in Review

928 of the 7,619 institutional investors tracked by Wall St. Rank reported a position in SAP (SAP) for Q3 2025, worth a combined $19.3B — down 12% from $21.9B a quarter earlier.

Sellers outnumbered buyers: 136 funds closed out of SAP and 109 opened new positions — a net loss of 27 holders — while 334 trimmed existing stakes and 338 added.

The largest buyer was WINDACRE PARTNERSHIP LLC, adding an estimated $376M. The largest seller was Fidelity Investments, cutting an estimated $588M.

  • 928 institutional investors held SAP (SAP) as of Q3 2025, down from 968 in Q2 2025.
  • Funds reported $19.3B of SAP stock for Q3 2025, down 12% quarter-over-quarter.
  • 109 funds opened new SAP positions in Q3 2025 and 136 closed out, a net change of -27 holders.
  • The largest SAP buyer in Q3 2025 was WINDACRE PARTNERSHIP LLC, an estimated $376M added.
  • The largest SAP seller in Q3 2025 was Fidelity Investments, an estimated $588M sold.

Based on aggregated 13F filings for Q3 2025.