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Deals · Research note · 3 Nov 2026

Schneider Electric is paying $205 a share for PTC, 42% above the last close. In the three quarters before the bid, 13F filers holding PTC fell from 732 to 684 while 13F filers in the database rose from 7,405 to 7,979

On 4 October 2026 PTC Inc. and Schneider Electric SE signed a merger agreement at $205 per PTC share in cash, about $22.6 billion of equity and $23.7 billion of enterprise value, a 42.3% premium to PTC's $144.03 close on 2 October. Svatantra.ai's signal database aggregates public Form 13F holdings reports by company and quarter. For PTC the number of institutional managers reporting a long common-stock position fell for three consecutive quarters before the bid: 732 at 30 September 2025, 724, 697, then 684 at 30 June 2026. Over the same period the number of 13F filers in the database rose from 7,405 to 7,979 and the median issuer gained 10% in holder count. PTC's share price fell from $203.02 to $113.61 between those two dates; Schneider's offer is 1% above the September 2025 price. This note sets out the counts, the peer comparison, the named public records, and what the data does not show.

By Jayprakash Mistry, Founder, Svatantra.ai

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Every number, and where it comes from

The first five figures in the note.

The full table has 28 rows. Each figure is as published on the date shown, with its denominator.

FigureWhat it measuresSource
732; 724; 697; 68413F filers reporting a long PTC common-stock position at 30 Sep 2025, 31 Dec 2025, 31 Mar 2026 and 30 Jun 2026 (distinct filer CIKs; no puts, calls or debt; one CUSIP; shares summed per filer)Svatantra.ai signal database, count at 30 Oct 2026
66613F filers reporting a long PTC common-stock position at 30 Jun 2025, the quarter before the 732 peakSvatantra.ai signal database, count at 30 Oct 2026
48; 6.6%Fall in PTC holders from 732 to 684. Author's arithmeticDerived from Svatantra.ai signal database, count at 30 Oct 2026
284; 233; 58; 122; 109PTC holders in the June 2026 quarter that trimmed, added, were unchanged, exited, or were new, against 31 Mar 2026 positionsSvatantra.ai signal database, count at 30 Oct 2026
273 to 262; 274 to 238Trimmed to added in the December 2025 quarter and the March 2026 quarterSvatantra.ai signal database, count at 30 Oct 2026

23 more figures in the PDF, each with its source.

Sources

11 primary releases.

  1. PTC Inc. and Schneider Electric SE, Schneider Electric to acquire PTC, creating the next level of Energy and Industrial Intelligence (joint press release) (5 October 2026)
    "$205 per share" in cash; equity value "approximately $22.6 billion" (EUR 20.1 billion); enterprise value "$23.7 billion" (EUR 21.1 billion); "42.3% premium" to the last closing price and "46.1% premium" to the previous 30-trading-day VWAP; closing expected Q3 2027; PTC CY25 revenue EUR 2.4 billion, Adj. EBITA margin about 40%; "more than 30,000 customers globally".
    ptc.com
  2. PTC Inc., Form 8-K (SEC), via stocktitan.net, PTC agrees to $205-a-share Schneider Electric merger (Items 1.01, 7.01, 9.01) (Filed 5 October 2026; agreement dated 4 October 2026)
    Merger consideration "$205 in cash, without interest and subject to applicable withholding taxes"; termination fee payable by PTC of $700 million in specified circumstances; approval by holders of a majority of outstanding shares; $25 billion committed bridge facility; EUR 250 million run-rate cost synergies by year 3; about EUR 800 million revenue synergies.
    stocktitan.net
  3. Schneider Electric, Schneider Electric to acquire PTC (press release PDF) (5 October 2026)
    "$205 per share in cash"; "21x EV/Adj. EBITA 2027E, and 13x including full run-rate synergies"; total cash consideration approximately EUR 22 billion, funded by approximately EUR 5 to 6 billion of equity and EUR 16 to 17 billion of new debt, backed by a fully committed bridge facility from Morgan Stanley and Societe Generale.
    se.com
  4. SEC EDGAR, Standard Investments LLC, Form 13F-HR, period of report 30 June 2026, information table (Signed 14 August 2026)
    Entry 9 of 13: "PTC INC | COM | 69370C100 | 205918125 | 1812500 | SH | SOLE"; tableEntryTotal 13; tableValueTotal 1,930,494,214.
    sec.gov
  5. SEC EDGAR, State Street Corp, Form 13F-HR, period of report 30 June 2026 (primary document) (Signed 7 August 2026)
    "STATE STREET CORP"; "13F HOLDINGS REPORT"; period "06-30-2026"; tableEntryTotal 4177. The database records 6,452,323 PTC shares for this filing; the PTC line in the 2.3 MB table could not be read through the fetch tool.
    sec.gov
  6. SEC EDGAR, Geode Capital Management, LLC, Form 13F-HR, period of report 30 June 2026 (primary document) (Signed 12 August 2026)
    "GEODE CAPITAL MANAGEMENT, LLC"; "13F HOLDINGS REPORT"; period "06-30-2026"; tableEntryTotal 8470. The database records 3,754,033 PTC shares for this filing.
    sec.gov
  7. FinancialContent, PTC Inc. common stock (Nasdaq: PTC), historical prices (Accessed 30 October 2026)
    Daily closes: "10/02 144.03"; "10/05 192.26"; "10/29 194.80"; 9/30 140.30; 7/31 137.20.
    financialcontent.com
  8. digrin.com, PTC Inc. (PTC) price history (monthly) (Accessed 30 October 2026)
    Month-end values: "September 2025 $203.02"; December 2025 $174.21; March 2026 $142.49; "June 2026 $113.61". Both anchor values equal the per-share values implied by 13F-reported positions (Vanguard Group at 30 Sep 2025, Standard Investments and BlackRock at 30 Jun 2026; author's arithmetic).
    digrin.com
  9. Senate Office of Public Records, Lobbying Disclosure Act filing, PTC INC. (client), CoAspire LLC (registrant), 2024 fourth quarter (Posted 18 January 2025)
    Income $20,000; issue code DEF; entities lobbied: Army, Navy, House of Representatives, Senate. "CoAspire advocated for two Congressional adds in the FY25 NDAA and FY25 Defense Appropriations Act process. Both were for Digital Engineering software. Neither request appeared in the FY25 bills."
    lda.gov
  10. SEC EDGAR, PTC Inc., Form 8-K, Item 1.01, exhibit 10.1 (Filed 5 November 2025)
    Exhibit described as "Asset Purchase Agreement dated November 5, 2025, between PTC Inc. and another party". Recorded in the database as a keyword match on "government contract".
    sec.gov
  11. Svatantra.ai, Signal database (30 October 2026)
    Counted: for PTC Inc. (issuer CIK 857005), distinct 13F filers reporting a long common-stock position at each quarter end from 30 September 2025 to 30 June 2026, and per-filer changes against the prior quarter (new, added, trimmed, unchanged, exited): 732, 724, 697, 684 holders (666 at 30 June 2025). Also counted: distinct 13F filer CIKs with positions in the database per quarter (7,405 to 7,979); issuers with aggregate rows at both quarter ends (1,013) and how many gained or lost holders; the same for issuers with 500 or more holders (150) and for software and IT-services issuers (SIC 7371 to 7374) with 400 or more holders (16). Counts at 30 October 2026.
    svatantra.ai