Night Owl Capital Management, LLC: SAP SE SPON ADR (SAP): Quarterly 13F Position History
As of Q1 2026, Night Owl Capital Management, LLC reported 249,017 shares of SAP SE SPON ADR (SAP), worth $42.6M and representing 5.0% of its 13F equity book. Quarter-over-quarter share count change: + 1,465 (+0.6%) . The position first appeared in Q2 2023 and has been disclosed across 12 13F-HR filings in Pactolio's tracked window.
- 249,017Shares Held (Latest Filing)
- $42.6MReported Market Value (Latest Filing)
- 5.0%Portfolio Weight (% of 13F Equity Book)
- +1,465Quarter-over-Quarter Share Change
- -$17.5MQuarter-over-Quarter Value Change
- 249,017Peak Reported Shares (Historical)
Quarterly 13F-HR Disclosure History Source: SEC 13F-HR filings, 12 quarter s
| Quarter | Shares | QoQ Share Change | Share Change (%) | Market Value | Weight | Implied Price |
|---|---|---|---|---|---|---|
| Q1 2026 | 249,017 | +1,465 | +0.6% | $42.6M | 5.0% | $171.2 |
| Q4 2025 | 247,552 | +2,494 | +1.0% | $60.1M | 6.6% | $242.9 |
| Q3 2025 | 245,058 | +2,085 | +0.9% | $65.5M | 7.1% | $267.2 |
| Q2 2025 | 242,973 | +7,125 | +3.0% | $73.9M | 8.5% | $304.1 |
| Q1 2025 | 235,848 | +8,178 | +3.6% | $63.3M | 7.9% | $268.4 |
| Q4 2024 | 227,670 | +6,647 | +3.0% | $56.1M | 7.2% | $246.2 |
| Q3 2024 | 221,023 | +6,486 | +3.0% | $50.6M | 6.9% | $229.1 |
| Q2 2024 | 214,537 | 2,362 | -1.1% | $43.3M | 6.5% | $201.7 |
| Q1 2024 | 216,899 | +2,022 | +0.9% | $42.3M | 6.4% | $195.0 |
| Q4 2023 | 214,877 | +4,490 | +2.1% | $33.2M | 6.6% | $154.6 |
| Q3 2023 | 210,387 | +83,801 | +66.2% | $27.2M | 6.8% | $129.3 |
| Q2 2023 | 126,586 | — | — | $17.3M | 4.4% | $136.8 |
Methodology & FAQ
How This Position History Is Sourced
Each row is one SEC Form 13F-HR filing disclosing this position. Share count, market value, and reported quarter are taken verbatim from the filing; portfolio weight is recomputed against the same filing's total reported equity book. Implied price-per-share is market value divided by shares — a quarter-end mark, not the manager's cost basis. See the full methodology document for the normalization rules.
When did Night Owl Capital Management, LLC first disclose a SAP position in 13F-HR filings?
Night Owl Capital Management, LLC first reported SAP SE SPON ADR (SAP) on its 13F-HR filing for the period ending 2023-06-30 (Q2 2023). The position has appeared on 12 reported quarters within Pactolio's tracked window.
What was Night Owl Capital Management, LLC's most recent quarter-over-quarter share-count change in SAP?
Between Q4 2025 and Q1 2026, Night Owl Capital Management, LLC added 1,465 shares of SAP (+0.6%), bringing the total reported position to 249,017 shares at a market value of $42.6M.
Does the implied price-per-share represent Night Owl Capital Management, LLC's cost basis in SAP?
No. The implied price-per-share column is the 13F-HR reported market value divided by reported share count on the filing date (end of quarter). It is a quarter-end mark, not a cost basis or transaction price. Use it as a sanity check on the value column, not as an indicator of the manager's entry or exit price.