The whale feed
Who just crossed 5%?
When anyone — family offices, activist funds, sovereign wealth, famous CEOs buying into other companies — crosses a 3–5% voting- rights threshold in an EU or UK listed company, they must disclose it within 2–4 trading days. A different signal from Article 19 PDMR filings — conviction across the table, not inside one.
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Matching filings
Showing 14 most recent| Filed | Filer | Company | Move | New % | Source |
|---|---|---|---|---|---|
| 2026-10-14 3d ago | 🇩🇪Hopp, Dipl.-Ing. Dietmar | SAP SE$SAP | disclosed | 4.49% | regulator → |
| 2026-08-14 2mo ago | 🇩🇪BlackRock, Inc. | SAP SE$SAP | disclosed | 6.75% | regulator → |
| 2026-08-10 2mo ago | 🇩🇪BlackRock, Inc. | SAP SE$SAP | disclosed | 6.75% | regulator → |
| 2026-08-04 2mo ago | 🇩🇪BlackRock, Inc. | SAP SE$SAP | disclosed | 6.74% | regulator → |
| 2026-07-31 2mo ago | 🇩🇪Tschira, Harald | SAP SE$SAP | disclosed | 4.22% | regulator → |
| 2026-07-21 2mo ago | 🇩🇪Tschira, Harald | SAP SE$SAP | disclosed | 4.22% | regulator → |
| 2026-07-21 2mo ago | 🇩🇪Tschira, Udo | SAP SE$SAP | disclosed | 4.19% | regulator → |
| 2026-06-03 4mo ago | 🇩🇪BlackRock, Inc. | SAP SE$SAP | disclosed | 6.75% | regulator → |
| 2026-05-19 5mo ago | 🇩🇪BlackRock, Inc. | SAP SE$SAP | disclosed | 6.55% | regulator → |
| 2026-05-15 5mo ago | 🇩🇪BlackRock, Inc. | SAP SE$SAP | disclosed | 6.53% | regulator → |
| 2026-05-08 5mo ago | 🇩🇪BlackRock, Inc. | SAP SE$SAP | disclosed | 6.50% | regulator → |
| 2026-05-01 5mo ago | 🇩🇪BlackRock, Inc. | SAP SE$SAP | disclosed | 6.49% | regulator → |
| 2026-03-11 7mo ago | 🇩🇪BlackRock, Inc. | SAP SE$SAP | disclosed | 6.47% | regulator → |
| 2026-02-06 8mo ago | 🇩🇪SAP SE | SAP SE$SAP | disclosed | 5.03% | regulator → |
Why this signal matters
A CEO buying €1m of their own stock is confidence. A family office quietly accumulating 5% of a small listed industrial is conviction across the table — and often a leading indicator of an activist campaign, a take-private bid, a sovereign wealth allocation, or a cornerstone investment. Academic literature (Brav, Jiang, Kim 2010 on activism; Bebchuk et al 2013) consistently finds substantial outperformance in the months following 13D / equivalent filings in the US. Europe's Transparency Directive is the European equivalent.