AbstractSecond‐order election (SOE) theory has been used to explain voting behaviour in European elections. Voters believe that less is at stake in some elections and some voters hence tend to cast a protest vote. However, most studies on the topic have focused on the demand side of SOEs – i.e. on the voters – and have ignored or only partially tackled the supply side – i.e. the strategic behaviour of parties – and excluded small and marginal parties (SMPs). However, SMPs may have greater incentive to seriously compete in SOEs. The 2019 European Parliament elections in Germany were particularly interesting to SMPs as there was no voting threshold, thereby increasing the chances of SMPs. To capture whether SMPs view European elections as first‐order elections and therefore expend more resources than parliamentary parties on these elections, I analysed campaign expenditures and manifestos. Results indicate that SMPs act within a rational actor framework, though not unequivocally.