SAP SE - Depositary Receipt (Common Stock)
US ˙ NYSE

SecuritySAP / SAP SE - Depositary Receipt (Common Stock)
InstitutionFreestone Capital Holdings, LLC
Latest Disclosed Ownership0 shares
Latest Disclosed Value $ 0
Freestone Capital Holdings, LLC closes position in SAP / SAP SE - Depositary Receipt (Common Stock)

On January 23, 2026 - Freestone Capital Holdings, LLC filed a 13F-HR form disclosing ownership of 0 shares of SAP SE - Depositary Receipt (Common Stock) (US:SAP) valued at $0 USD as of December 31, 2025. The entity filed a previous 13F-HR on November 12, 2025 disclosing 777 shares of SAP SE - Depositary Receipt (Common Stock). The current value of the position is $0 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)
2026-01-23 2025-12-31 13F SAP SE SPON ADR 803054204 0 -100.00 0
2025-11-12 2025-09-30 13F SAP SE SPON ADR 803054204 777 777 208 0.0064
2022-08-09 2022-06-30 13F SAP SE SPON ADR 803054204 0 -6,783 -100.00 0 -100.00
2022-05-12 2022-03-31 13F SAP SE SPON ADR 803054204 6,783 4,063 149.38 753 97.64 0.0303
2022-02-14 2021-12-31 13F SAP SE SPON ADR 803054204 2,720 693 34.19 381 39.05 0.0161
2021-11-15 2021-09-30 13F SAP SE SPON ADR 803054204 2,027 -1,963 -49.20 274 -51.07 0.0137
2021-08-16 2021-06-30 13F SAP SE SPON ADR 803054204 3,990 -742 -15.68 560 -3.61 0.0281
2021-05-17 2021-03-31 13F SAP SE SPON ADR 803054204 4,732 -12,957 -73.25 581 -74.80 0.0316
2021-02-16 2020-12-31 13F SAP SE SPON ADR 803054204 17,689 -30,746 -63.48 2,306 -69.44 0.1346
2020-11-06 2020-09-30 13F SAP SE SPON ADR 803054204 48,435 -2,046 -4.05 7,547 6.78 0.4917
2020-08-04 2020-06-30 13F SAP SE SPON ADR 803054204 50,481 2,804 5.88 7,067 34.15 0.0829
2020-05-12 2020-03-31 13F SAP SE SPON ADR 803054204 47,677 15,834 49.73 5,268 23.46 0.1139
2020-02-04 2019-12-31 13F SAP SE SPON ADR 803054204 31,843 3,571 12.63 4,267 28.06 0.0884
2019-11-07 2019-09-30 13F SAP SE SPON ADR 803054204 28,272 4,187 17.38 3,332 1.12 0.0803
2019-08-05 2019-06-30 13F SAP SE SPON ADR 803054204 24,085 1,708 7.63 3,295 27.52 0.0844
2019-05-08 2019-03-31 13F SAP SE SPON ADR 803054204 22,377 4,936 28.30 2,584 48.85 0.1533
2019-02-11 2018-12-31 13F SAP SE SPON ADR 803054204 17,441 4,980 39.96 1,736 13.24 0.1176
2018-11-10 2018-09-30 13F SAP SE SPON ADR 803054204 12,461 1,672 15.50 1,533 22.84 0.0097
2018-08-14 2018-06-30 13F SAP SE SPON ADR 803054204 10,789 762 7.60 1,248 18.41 0.0078
2018-05-15 2018-03-31 13F SAP SE SPON ADR 803054204 10,027 212 2.16 1,054 -4.44 0.0615
2018-02-13 2017-12-31 13F SAP SE SPON ADR 803054204 9,815 345 3.64 1,103 6.26 0.0764
2017-11-14 2017-09-30 13F SAP SE SPON ADR 803054204 9,470 376 4.13 1,038 9.03 0.0739
2017-08-14 2017-06-30 13F/A-1 SAP SE SPON ADR 803054204 9,094 -451 -4.72 952 1.60 0.0741
2017-08-09 2017-06-30 13F SAP SE SPON ADR 803054204 9,094 -451 952 76,613.9222
2017-05-15 2017-03-31 13F SAP SE SPON ADR 803054204 9,545 -32,768 -77.44 937 -74.38 0.0722
2017-02-17 2016-12-31 13F/A-2 SAP SE SPON ADR 803054204 42,313 6,948 19.65 3,657 13.11 0.3141
2017-02-14 2016-12-31 13F/A-1 SAP SE SPON ADR 803054204 42,313 0 3,657 0.3141
2017-02-14 2016-12-31 13F SAP SE SPON ADR 803054204 42,313 6,948 3,657 314,090.2591
2016-11-14 2016-09-30 13F SAP SE SPON ADR 803054204 35,365 6,431 22.23 3,233 48.92 0.2957
2016-08-10 2016-06-30 13F SAP SE SPON ADR 803054204 28,934 6,038 26.37 2,171 17.93 0.2120
2016-05-12 2016-03-31 13F SAP SE SPON ADR 803054204 22,896 2,379 11.60 1,841 13.43 0.1935
2016-02-10 2015-12-31 13F SAP SE SPON ADR 803054204 20,517 20,517 259.19 1,623 225.90 0.1680
2015-11-12 2015-09-30 13F SAP SE SPON ADR 803054204 0 -12,460 -100.00 0 -100.00
2015-08-12 2015-06-30 13F SAP SE SPON ADR 803054204 12,460 6,748 118.14 875 75.70 0.1393
2014-02-13 2013-12-31 13F SAP SPON ADR 803054204 5,712 -118 -2.02 498 15.55 0.0883
2013-11-14 2013-09-30 13F SAP SPON ADR 803054204 5,830 56 0.97 431 2.38 0.0768
2013-08-15 2013-06-30 13F SAP SPON ADR 803054204 5,774 5,774 421 0.0864
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.