SAP SE - 存託憑證（普通股）
US ˙ NYSE

SecuritySAP / SAP SE - Depositary Receipt (Common Stock)
InstitutionLevel Four Advisory Services, Llc
Latest Disclosed Ownership1,434 shares
Latest Disclosed Value $ 245,515
Level Four Advisory Services, Llc ownership in SAP / SAP SE - Depositary Receipt (Common Stock)

On May 14, 2026 - Level Four Advisory Services, Llc filed a 13F-HR form disclosing ownership of 1,434 shares of SAP SE - Depositary Receipt (Common Stock) (US:SAP) valued at $245,515 USD as of March 31, 2026. The entity filed a previous 13F-HR on February 7, 2019 disclosing 0 shares of SAP SE - Depositary Receipt (Common Stock). The current value of the position is $268,359 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)
2026-05-14 2026-03-31 13F SAP SE SPON ADR 803054204 1,434 1,434 246 0.0081
2019-02-07 2018-12-31 13F SAP SE SPON ADR 803054204 0 -3,276 -100.00 0 -100.00
2018-11-14 2018-09-30 13F SAP SE SPON ADR 803054204 3,276 -7,732 -70.24 403 -68.34 0.0436
2018-08-14 2018-06-30 13F SAP SE SPON ADR 803054204 11,008 -759 -6.45 1,273 2.91 0.0927
2018-05-14 2018-03-31 13F SAP SE SPON ADR 803054204 11,767 868 7.96 1,237 0.98 0.0959
2018-02-13 2017-12-31 13F SAP SE SPON ADR 803054204 10,899 2,585 31.09 1,225 34.32 0.0953
2018-04-03 2017-09-30 13F/A-1 SAP SE SPON ADR 803054204 8,314 4,826 138.36 912 168.24 0.0808
2017-11-15 2017-09-30 13F SAP SE SPON ADR 803054204 8,243 4,755 913
2017-09-20 2017-06-30 13F/A-1 SAP SE SPON ADR 803054204 3,488 -2,535 -42.09 340 -42.28 0.0523
2017-07-12 2017-06-30 13F SAP SE SPON ADR 803054204 3,488 -2,535 340
2017-09-20 2017-03-31 13F/A-1 SAP SE SPON ADR 803054204 6,023 26 0.43 589 13.71 0.0600
2017-05-15 2017-03-31 13F SAP SE SPON ADR 803054204 6,023 26 589
2017-02-14 2016-12-31 13F SAP SE SPON ADR 803054204 5,997 5,997 518 0.0661
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.