Euro Pacific Asset Management 13F: New $1.9M Stake in SAP

Euro Pacific Asset Management opened a new position in enterprise software provider SAP SE (NYSE: SAP), according to a Form 13F filing disclosed with the SEC on October 13, 2026. Because 13F filings look backward at the previous quarter, this report reflects holdings as of that period and may not represent the manager's current stance.

What Changed in Euro Pacific Asset Management's SAP Position

The firm initiated a brand-new stake in the software company, acquiring 8,748 shares. The reported value of the new holding stood at $1,933,948. This initial investment establishes a fresh position for the fund in the German software maker.

Other Institutional Activity in SAP

Other large institutional funds also adjusted their positions in SAP SE during recent periods. Fisher Asset Management, LLC grew its holdings by 396,796 shares, ending with 14,931,460 shares worth about $3.35 billion. Eagle Capital Management LLC added 791,932 shares for a 10.1% increase, holding 8,640,615 shares valued at roughly $1.94 billion. Goldman Sachs Group Inc grew its stake by 2,722,764 shares, an 82.5% jump that left it with 6,023,085 shares worth about $1.35 billion. Capital International Investors boosted its holdings by 669,581 shares, or 13.4%, ending with 5,681,413 shares valued at roughly $1.27 billion. Morgan Stanley grew its position by 1,860,084 shares, a 51.4% increase to 5,476,111 shares worth about $1.23 billion.

Sap Se Stock Up 0.8%

SAP shares recently traded around $222.16 as of October 16, 2026. The stock sits about 4.6% above its 50-day moving average of $212.40 and roughly 15.6% above its 200-day moving average of $192.16. The share price remains below its 52-week high of $281.37 while staying well above its 52-week low of $144.97. The company carries a price-to-earnings ratio of 28.88 based on trailing results, with a forward P/E of 23.43.

Recent Earnings

For the trailing twelve months, SAP generated $38.19 billion in revenue with earnings of $7.79 per share. The company reported a net profit margin of 20.4% and a return on equity of 18.3%, alongside year-over-year revenue growth of 9.4%. Investors are watching ahead to the company's upcoming financial update scheduled for October 21, 2026.

Dividend

The company pays an annual dividend yielding 1.3%, supported by a dividend payout ratio of 37.7% of earnings.

Analysts Set New Price Targets

Wall Street firms have continued adjusting their views on the stock. On July 24, 2026, BMO Capital maintained an Outperform rating with a price target of $177.00. On July 27, 2026, Barclays maintained its Overweight rating while adjusting its target from $255.00 to $242.00. Later, UBS downgraded the stock to Neutral on August 26, 2026. BMO Capital then raised its target to $235.00 on October 8, 2026, while maintaining an Outperform rating. On October 13, 2026, Barclays maintained an Overweight rating with a price target of $243.00. Overall, the stock holds a buy consensus rating among analysts with a mean price target of $261.17 across 12 analyst opinions.

About SAP

Headquartered in Walldorf, Germany, SAP SE provides enterprise application software and business solutions to customers worldwide. The company helps organizations manage business operations and customer relations through integrated data processing platforms. Institutional interest in the firm continues to draw attention as software demand evolves.

Bottom Line

Euro Pacific Asset Management's new position adds to a broad base of institutional ownership in the software provider. Investors will look to the upcoming earnings report on October 21, 2026, for further insight into the company's financial trajectory. Because 13F filings reflect past quarters, subsequent regulatory filings will show whether the fund maintains or alters its stake. Keep in mind that 13F filings are backward-looking: they show holdings as of the end of the reporting quarter and may not represent the fund's current position.