SAP SE

Ticker: SAPGF CUSIP: D66992104 Class: Common Stock

Holders for Q4 2025 Position Changes for Q4 2025

Note: Option positions (PUT/CALL) are excluded.

New Positions (1)

Vermillion & White Wealth Management Group, LLC

Value ($000) $42 Shares 174

Institution	Shares	Value ($000)
Vermillion & White Wealth Management Group, LLC	174	$42

Increased Positions (1)

Generali Investments CEE, investicni spolecnost, a.s.

Value ($000) $13,683 (+16.5%) Shares 55,936 (+27.3%)

Institution	Prev Shares	Curr Shares	Change
Generali Investments CEE, investicni spolecnost, a.s.	43,942	55,936	+11,994 (+27.3%)

Exited Positions (4)

Boston Common Asset Management, LLC

Value ($000) $17,765 Shares 66,340

OLD MISSION CAPITAL LLC

Value ($000) $11,176 Shares 41,825

Winthrop Partners - WNY, LLC

Value ($000) $147,332 Shares 1,253

Main Street Group, LTD

Value ($000) $246 Shares 919

Institution	Prev Shares	Prev Value ($000)
Boston Common Asset Management, LLC	66,340	$17,765
OLD MISSION CAPITAL LLC	41,825	$11,176
Winthrop Partners - WNY, LLC	1,253	$147,332
Main Street Group, LTD	919	$246