SAP SE - Depositary Receipt (Common Stock)
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SecuritySAP / SAP SE - Depositary Receipt (Common Stock)
InstitutionPinnacle Associates Ltd
Latest Disclosed Ownership2,342 shares
Latest Disclosed Value $ 400,915
Pinnacle Associates Ltd reports 55.40% decrease in ownership of SAP / SAP SE - Depositary Receipt (Common Stock)

On April 21, 2026 - Pinnacle Associates Ltd filed a 13F-HR form disclosing ownership of 2,342 shares of SAP SE - Depositary Receipt (Common Stock) (US:SAP) valued at $400,974 USD as of March 31, 2026. The entity filed a previous 13F-HR on February 5, 2026 disclosing 5,251 shares of SAP SE - Depositary Receipt (Common Stock). This represents a change in shares of -55.40% during the quarter. The current value of the position is $423,129 USD.

Institutional Ownership: 13F and NPORT Filings

The Security and Class in the table below are shown exactly as filed by the investor. We do our best to track continuity of investments through acquisitions, and this will be reflected in the table as changes in names. In addition to descriptive data, performance of the investment is shown over time. To calculate quarterly performance, we first calculate cost basis of the shares purchased during the quarter, then use that to calculate gross profit. Quarterly return is Gross Profit / Starting Portfolio value.

Note that cost basis is calculated and stored in thousands, so small quarterly changes in shares frequently result in a cost basis of zero.

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Disclosed Equity Positions (from 13F/NPORT Filings)
File
Date		 Effective
Date		Form Security Class ID Avg Price
Paid (Est)		 Reported
Shares		 ΔShares ΔShares
(%)		 Reported
Value
(x1000)		 ΔValue
(%)		 Alloc
(%)		 ΔAlloc ΔAlloc (%) Cost Basis
(x1000)		 Unrealized
Gain/Loss
(x1000)
2026-04-21 2026-03-31 13F SAP SE SPON ADR 803054204 2,342 -2,909 -55.40 401 -68.63 0.0051
2026-02-05 2025-12-31 13F SAP SE SPON ADR 803054204 5,251 -78 -1.46 1,275 -10.40 0.0164
2025-11-13 2025-09-30 13F SAP SE SPON ADR 803054204 5,329 -127 -2.33 1,424 -14.23 0.0189
2025-08-04 2025-06-30 13F SAP SE SPON ADR 803054204 5,456 -3 -0.05 1,659 13.24 0.0240
2025-05-06 2025-03-31 13F SAP SE SPON ADR 803054204 5,459 532 10.80 1,465 20.77 0.0215
2025-02-14 2024-12-31 13F SAP SE SPON ADR 803054204 4,927 2,851 137.33 1,213 279.06 0.0165
2024-10-25 2024-09-30 13F SAP SE SPON ADR 803054204 2,076 -31 -1.47 321 -24.53 0.0055
2024-07-30 2024-06-30 13F SAP SE SPON ADR 803054204 2,107 18 0.86 425 4.18 0.0067
2024-04-26 2024-03-31 13F SAP SE SPON ADR 803054204 2,089 13 0.63 407 27.19 0.0064
2024-01-19 2023-12-31 13F SAP SE SPON ADR 803054204 2,076 -349 -14.39 321 2.24 0.0054
2023-10-24 2023-09-30 13F SAP SE SPON ADR 803054204 2,425 -91 -3.62 314 -9.01 0.0058
2023-07-27 2023-06-30 13F SAP SE SPON ADR 803054204 2,516 2,516 344 0.0060
2021-01-26 2020-12-31 13F SAP SE SPON ADR 803054204 0 -5,107 -100.00 0 -100.00
2020-10-23 2020-09-30 13F SAP SE SPON ADR 803054204 5,107 0 0.00 796 11.33 0.0189
2020-08-14 2020-06-30 13F SAP SE SPON ADR 803054204 5,107 -118 -2.26 715 23.92 0.0176
2020-05-13 2020-03-31 13F SAP SE SPON ADR 803054204 5,225 -1,222 -18.95 577 -33.22 0.0175
2020-02-03 2019-12-31 13F SAP SE SPON ADR 803054204 6,447 -69 -1.06 864 12.50 0.0189
2019-11-08 2019-09-30 13F SAP SE SPON ADR 803054204 6,516 -115 -1.73 768 -15.33 0.0181
2019-08-05 2019-06-30 13F SAP SE SPON ADR 803054204 6,631 -578 -8.02 907 9.01 0.0212
2019-05-10 2019-03-31 13F SAP SE SPON ADR 803054204 7,209 -388 -5.11 832 10.05 0.0188
2019-02-05 2018-12-31 13F SAP SE SPON ADR 803054204 7,597 -494 -6.11 756 -24.02 0.0195
2018-11-09 2018-09-30 13F SAP SE SPON ADR 803054204 8,091 -11 -0.14 995 6.19 0.0206
2018-08-08 2018-06-30 13F SAP SE SPON ADR 803054204 8,102 0 0.00 937 9.98 0.0193
2018-05-11 2018-03-31 13F SAP SE SPON ADR 803054204 8,102 0 0.00 852 -6.37 0.0167
2018-02-12 2017-12-31 13F SAP SE SPON ADR 803054204 8,102 -50 -0.61 910 1.79 0.0175
2017-11-13 2017-09-30 13F SAP SE SPON ADR 803054204 8,152 20 0.25 894 5.05 0.0165
2017-08-09 2017-06-30 13F SAP SE SPON ADR 803054204 8,132 365 4.70 851 11.68 0.0164
2017-05-09 2017-03-31 13F SAP SE SPON ADR 803054204 7,767 -1,948 -20.05 762 -9.29 0.0146
2017-02-10 2016-12-31 13F SAP SE SPON ADR 803054204 9,715 -113 -1.15 840 -6.46 0.0169
2016-11-14 2016-09-30 13F SAP SE SPON ADR 803054204 9,828 -3,866 -28.23 898 -12.56 0.0180
2016-08-15 2016-06-30 13F SAP SE SPON ADR 803054204 13,694 -126 -0.91 1,027 -7.56 0.0221
2016-05-13 2016-03-31 13F SAP SE SPON ADR 803054204 13,820 18 0.13 1,111 1.74 0.0238
2016-02-11 2015-12-31 13F/A-1 SAP SE SPON ADR 803054204 13,802 208 1.53 1,092 23.95 0.0229
2016-02-09 2015-12-31 13F SAP SE SPON ADR 803054204 13,802 13,802 1,092 0.0233
2015-11-10 2015-09-30 13F SAP SE SPON ADR 803054204 13,594 -365 -2.61 881 -10.10 0.0195
2015-08-12 2015-06-30 13F SAP SE SPON ADR 803054204 13,959 1,442 11.52 980 8.53 0.0182
2015-05-15 2015-03-31 13F Sap Se-Sponsored Adr ADR 803054204 12,517 -213 -1.67 903 1.80 0.0168
2015-02-12 2014-12-31 13F Sap Se-Sponsored Adr ADR 803054204 12,730 -206 -1.59 887 -4.93 0.0174
2014-11-12 2014-09-30 13F Sap Se-Sponsored Adr ADR 803054204 12,936 -3,624 -21.88 933 -26.82 0.0190
2014-08-14 2014-06-30 13F Sap Se-Sponsored Adr ADR 803054204 16,560 -697 -4.04 1,275 -9.12 0.0249
2014-05-14 2014-03-31 13F Sap Ag-Sponsored Adr ADR 803054204 17,257 -975 -5.35 1,403 -11.71 0.0274
2014-02-12 2013-12-31 13F Sap Ag-Sponsored Adr ADR 803054204 18,232 2,733 17.63 1,589 38.66 0.0310
2013-11-14 2013-09-30 13F Sap Ag-Sponsored Adr ADR 803054204 15,499 1,515 10.83 1,146 12.57 0.0237
2013-08-13 2013-06-30 13F Sap Ag-Sponsored Adr ADR 803054204 13,984 13,984 1,018 0.0229
Legend
Shares
The total number of shares held by the institution at the end of the reporting period (the effective date). This is provided in the filing.
Value
The total value of the shares as of the effective date. This is provided in the filing.
Avg. Share Price
The weighted average share price of the shares held by the institution. We use FIFO accounting to determine this price
Class
This is the security class as indicated by the filer. There are a variety of values for this field. Common values include "EC" = equity common, "EP" - equity preferred
Allocation (%)
The percent of the institution's portfolio that this position represents. This is provided in NPORT filings. For 13F filings, we calculate it.
Change in Allocation
The change in allocation from the prior reporting period. This is calculated as current allocation - prior allocation.
Change in Allocation (%)
The percent change in allocation from the prior reporting period. This is calculated as (current allocation - prior allocation) / prior allocation.
Cost Basis
The total cost of the shares held. This is calculated as reported shares * avg. share price
Unrealized Gain/Loss
This is the market value of the position as of the effective date minus the cost basis.