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SAP

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: 968 → 928 (-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: 15 → 11 (-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

Top Buyers

Rank Fund Capital Flow
1
WPL
WINDACRE PARTNERSHIP LLC
Texas
+$376M
2
Morgan Stanley
Morgan Stanley
New York
+$296M
3
D.E. Shaw & Co
D.E. Shaw & Co
New York
+$259M
4
SGA
Sustainable Growth Advisers
Connecticut
+$218M
5
Thrivent Financial for Lutherans
Thrivent Financial for Lutherans
Minnesota
+$117M

Top Sellers

Rank Fund Capital Flow
1
Fidelity Investments
Fidelity Investments
Massachusetts
-$588M
2
TD Asset Management
TD Asset Management
Ontario, Canada
-$279M
3
Bank of America
Bank of America
North Carolina
-$169M
4
Goldman Sachs
Goldman Sachs
New York
-$117M
5
OCM
Oribel Capital Management
New York
-$86.8M
Name Holding Trade Value Shares
Change 		Change in
Stake
SC
1051
Stephens Consulting
Michigan
– -$9.43K -31 Closed
NRG
1052
Nemes Rush Group
Michigan
– -$7.6K -25 Closed
SC
1053
Swan Capital
Florida
– -$6.69K -22 Closed
ACM
1054
Accent Capital Management
Ohio
– -$6.39K -21 Closed
FC
1055
Family CFO
California
– -$5.47K -18 Closed
TC
1056
Trust Company
Kansas
– -$4.26K -14 Closed
IWM
1057
Inlight Wealth Management
Georgia
– -$3.95K -13 Closed
WTFG
1058
Wood Tarver Financial Group
Idaho
– -$3K -12 Closed
OP
1059
ORG Partners
Indiana
– -$3.31K -11 Closed
EWM
1060
Evolution Wealth Management
Florida
– -$2.43K -8 Closed
PAG
1061
Paladin Advisory Group
Iowa
– -$2.43K -8 Closed
RFS
1062
Richardson Financial Services
Massachusetts
– -$2.43K -8 Closed
AP
1063
Atwood & Palmer
Missouri
– -$609 -2 Closed
BCM
1064
Blume Capital Management
California
– -$609 -2 Closed
39 40 41 42
43

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.