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968 hedge funds and large institutions have $21.9B invested in SAP in 2025 Q2 according to their latest regulatory filings, with 164 funds opening new positions, 337 increasing their positions, 335 reducing their positions, and 67 closing their positions.

New
Increased
Maintained
Reduced
Closed

145% more first-time investments, than exits

New positions opened: 164 | Existing positions closed: 67

11% more capital invested

Capital invested by funds: $19.7B → $21.9B (+$2.17B)

9% more funds holding

Funds holding: 886968 (+82)

1% more repeat investments, than reductions

Existing positions increased: 337 | Existing positions reduced: 335

0% more funds holding in top 10

Funds holding in top 10: 1515 (0)

0.09% less ownership

Funds ownership: 5.95%5.85% (-0.09%)

3% less call options, than puts

Call options by funds: $325M | Put options by funds: $334M

Holders
968
Holders Change
+82
Holders Change %
+9.26%
% of All Funds
12.75%
Holding in Top 10
15
Holding in Top 10 Change
Holding in Top 10 Change %
% of All Funds
0.2%
New
164
Increased
337
Reduced
335
Closed
67
Calls
$325M
Puts
$334M
Net Calls
-$9.25M
Net Calls Change
+$98.2M
Name Holding Trade Value Shares
Change
Change in
Stake
Fisher Asset Management
1
Fisher Asset Management
Washington
$4.31B +$333M +1,163,616 +9%
Fidelity Investments
2
Fidelity Investments
Massachusetts
$2.74B -$352M -1,228,695 -12%
Capital International Investors
3
Capital International Investors
California
$1.23B -$926M -3,231,330 -44%
Morgan Stanley
4
Morgan Stanley
New York
$1.06B +$85.1M +297,090 +9%
Eagle Capital Management (New York)
5
Eagle Capital Management (New York)
New York
$915M -$84.4M -294,592 -9%
Bank of America
6
Bank of America
North Carolina
$806M +$279M +973,779 +58%
HL
7
Harding Loevner
New Jersey
$750M -$13.6M -47,558 -2%
Goldman Sachs
8
Goldman Sachs
New York
$589M +$177M +616,475 +47%
Northern Trust
9
Northern Trust
Illinois
$460M -$241K -841 -0.1%
TD Asset Management
10
TD Asset Management
Ontario, Canada
$455M -$47.6M -166,066 -10%
BlackRock
11
BlackRock
New York
$401M +$36.5M +127,325 +11%
WCM Investment Management
12
WCM Investment Management
California
$369M -$1.23M -4,308 -0.4%
Macquarie Group
13
Macquarie Group
Australia
$338M -$48.7M -170,066 -13%
Ameriprise
14
Ameriprise
Minnesota
$332M -$11.5M -39,971 -4%
JP Morgan Chase
15
JP Morgan Chase
New York
$331M +$22.4M +78,306 +8%
WPL
16
WINDACRE PARTNERSHIP LLC
Texas
$310M
Envestnet Asset Management
17
Envestnet Asset Management
Illinois
$295M -$11.7M -40,833 -4%
Royal Bank of Canada
18
Royal Bank of Canada
Ontario, Canada
$246M +$17.2M +59,868 +8%
Wells Fargo
19
Wells Fargo
California
$245M -$25.5M -88,863 -10%
Citigroup
20
Citigroup
New York
$187M +$143M +500,710 +442%
ClearBridge Investments
21
ClearBridge Investments
New York
$181M -$9.08M -31,672 -5%
Wellington Management Group
22
Wellington Management Group
Massachusetts
$160M -$24.8M -86,371 -14%
Polen Capital Management
23
Polen Capital Management
Florida
$148M -$16.1M -56,228 -10%
Qube Research & Technologies (QRT)
24
Qube Research & Technologies (QRT)
United Kingdom
$124M +$106M +369,484 +952%
Natixis Advisors
25
Natixis Advisors
Massachusetts
$123M +$5.7M +19,889 +5%

SAP Hedge Fund Activity: Q2 2025 in Review

968 of the 7,595 institutional investors tracked by Wall St. Rank reported a position in SAP (SAP) for Q2 2025, worth a combined $21.9B — up 11% from $19.7B a quarter earlier.

Buyers outnumbered sellers: 164 funds opened new SAP positions and 67 closed out — a net gain of 97 holders — while 337 added to existing stakes and 335 trimmed.

The largest buyer was Fisher Asset Management, adding an estimated $333M. The largest seller was Capital International Investors, cutting an estimated $926M.

  • 968 institutional investors held SAP (SAP) as of Q2 2025, up from 886 in Q1 2025.
  • Funds reported $21.9B of SAP stock for Q2 2025, up 11% quarter-over-quarter.
  • 164 funds opened new SAP positions in Q2 2025 and 67 closed out, a net change of +97 holders.
  • The largest SAP buyer in Q2 2025 was Fisher Asset Management, an estimated $333M added.
  • The largest SAP seller in Q2 2025 was Capital International Investors, an estimated $926M sold.

Based on aggregated 13F filings for Q2 2025.