Amundi discloses 5.11% beneficial stake in Sanofi (SNY) in updated 13G/A

Rhea-AI Filing Summary

Amundi and Amundi Asset Management filed an amended Schedule 13G reporting beneficial ownership of 62,741,607 Sanofi common shares and ADRs, representing 5.11% of the class. They report no sole voting or dispositive power, with 31,006,825 shares subject to shared voting power and 62,741,607 shares subject to shared dispositive power.

The filing explains that 27,972,813 of these shares are held through a French employee investment vehicle (FCPE) dedicated to Sanofi employees, where voting rights are exercised by the FCPE supervisory board rather than Amundi. Amundi certifies that the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of Sanofi.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 10)

SANOFI

(Name of Issuer)

Common Stock and American Depositary Receipts

(Title of Class of Securities)

80105N105

(CUSIP Number)

12/31/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 80105N105

1

Names of Reporting Persons

AMUNDI

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

FRANCE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 31,006,825.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 62,741,607.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

62,741,607.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

5.11 %

12

Type of Reporting Person (See Instructions)

HC

Comment for Type of Reporting Person: Amundi does not have voting rights on 27,972,813 shares which are held through a FCPE (Fonds Commun de Placement d'Enterprise, an investment vehicle established under French law), solely dedicated to Sanofi group's employees shareholding. Employees of Sanofi are granted the right to participate in stock purchase plans in which the shares acquired are exclusively held in this FCPE, created at the request of Sanofi. The voting rights associated to these shares are exercised by the supervisory Board of the FCPE, where representatives of the employees have the majority (if any remaining seats of the supervisory board are designated by Sanofi), and not by Amundi.

SCHEDULE 13G

CUSIP No. 80105N105

1

Names of Reporting Persons

AMUNDI ASSET MANAGEMENT

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

FRANCE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 31,006,825.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 62,741,607.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

62,741,607.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

5.11 %

12

Type of Reporting Person (See Instructions)

HC

Comment for Type of Reporting Person: Amundi does not have voting rights on 27,972,813 shares which are held through a FCPE (Fonds Commun de Placement d'Enterprise, an investment vehicle established under French law), solely dedicated to Sanofi group's employees shareholding. Employees of Sanofi are granted the right to participate in stock purchase plans in which the shares acquired are exclusively held in this FCPE, created at the request of Sanofi. The voting rights associated to these shares are exercised by the supervisory Board of the FCPE, where representatives of the employees have the majority (if any remaining seats of the supervisory board are designated by Sanofi), and not by Amundi.

SCHEDULE 13G

Item 1.
(a)	Name of issuer: SANOFI
(b)	Address of issuer's principal executive offices: 46 avenue de la Grande Armee, 75017 Paris
Item 2.
(a)	Name of person filing: Amundi Amundi Asset Management
(b)	Address or principal business office or, if none, residence: Amundi: 91-93 boulevard Pasteur, 75015 Paris, France Amundi Asset Management: 91-93 boulevard Pasteur, 75015 Paris, France
(c)	Citizenship: Both Amundi and Amundi Asset Management are organized under the laws of the Republic of France.
(d)	Title of class of securities: Common Stock and American Depositary Receipts
(e)	CUSIP No.: 80105N105
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 62,741,607
(b)	Percent of class: 5.11%
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 0
	(ii) Shared power to vote or to direct the vote: 31,006,825
	(iii) Sole power to dispose or to direct the disposition of: 0
	(iv) Shared power to dispose or to direct the disposition of: 62,741,607
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	If a parent holding company has filed this schedule, pursuant to Rule 13d-1(b)(ii)(G), so indicate under Item 3(g) and attach an exhibit stating the identity and the Item 3 classification of the relevant subsidiary. If a parent holding company has filed this schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d), attach an exhibit stating the identification of the relevant subsidiary. Amundi Asset Management AMUNDI AUSTRIA GMBH AMUNDI DEUTSCHLAND GMBH AMUNDI IRELAND LIMITED Amundi Japan Ltd. Amundi SGR S.p.A. BFT INVESTMENT MANAGERS CPR Asset Management KBI Global Investors (North America) Ltd KBI Global Investors Ltd SOCIETE GENERALE GESTION Sabadell Asset Management, S.A S.G.I.I.C
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

AMUNDI

Signature:	John M. Malone
Name/Title:	John M. Malone | Chief Compliance Officer | Power of Attorney
Date:	02/17/2025

AMUNDI ASSET MANAGEMENT

Signature:	John M. Malone
Name/Title:	John M. Malone | Chief Compliance Officer | Power of Attorney
Date:	02/17/2025

FAQ

What does the Sanofi (SNY) Schedule 13G/A disclose about Amundi?

The filing shows Amundi and Amundi Asset Management beneficially own 62,741,607 Sanofi shares and ADRs, representing 5.11% of the class. They report only shared voting and dispositive powers, with no sole authority over these securities.

What percentage of Sanofi (SNY) does Amundi report owning?

Amundi reports beneficial ownership of 5.11% of Sanofi’s outstanding common stock and ADRs. This corresponds to 62,741,607 shares, as disclosed in the ownership section of the Schedule 13G/A amendment filed with the SEC.

How much voting power does Amundi have over Sanofi (SNY) shares?

Amundi reports no sole voting power and 31,006,825 shares with shared voting power. It also has shared dispositive power over 62,741,607 shares, indicating decisions are taken jointly rather than by Amundi alone.

What is the role of the FCPE in Amundi’s Sanofi (SNY) holdings?

The filing states 27,972,813 shares are held through an FCPE, a French employee investment vehicle dedicated to Sanofi employees. Voting rights for these shares are exercised by the FCPE’s supervisory board, not by Amundi itself.

Does Amundi seek to influence control of Sanofi (SNY) with these holdings?

Amundi certifies the Sanofi securities were acquired and are held in the ordinary course of business. It states they were not acquired and are not held to change or influence control of Sanofi, consistent with a passive investment stance.

Who signed the Sanofi (SNY) Schedule 13G/A on behalf of Amundi?

The document is signed by John M. Malone, identified as Chief Compliance Officer and holding a power of attorney. His signature certifies that, to his knowledge and belief, the information in the statement is true, complete, and correct.