Vault-13

DEUTSCHE BANK A G DB

NAMEN AKT · Common Stock · CUSIP D18190898

271 institutional holders +23 vs Q3 2023
589,016,527589.0m shares reported held*
29.6% of all shares outstanding*
$8.0bnreported value*
39 new 111 added 60 reduced 21 sold out net bought ≈ $1.1bn (+79.0m shares)

* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once ($2.2m this quarter). Holder counts are more reliable. Shares outstanding: 2.0bn as of 2023-12-31, from the company's own SEC filing; the percentage can still exceed 100%: lent-out shares are counted by the lender and the buyer, and some reports overlap without saying so. Implied quarter-end price ≈ $13.61. Options: 18 managers hold calls ($185.9m notional), 27 hold puts ($664.5m).

Trends to Q4 2023

Institutional holders

Managers reporting a position, each quarter

0100200300Q3 22: 226Q4 22: 227Q1 23: 248Q2 23: 250Q3 23: 248Q4 23: 271271Q3 22Q4 22Q1 23Q2 23Q3 23Q4 23
Numbers
QuarterHolders
Q3 2022226
Q4 2022227
Q1 2023248
Q2 2023250
Q3 2023248
Q4 2023271

Buyers vs sellers

Managers adding to or starting a position, vs cutting or selling out

Bought or addedCut or sold out
2000200Q4 22: 109 bought or addedQ4 22: 100 cut or sold outQ4 22Q1 23: 130 bought or addedQ1 23: 95 cut or sold outQ1 23Q2 23: 116 bought or addedQ2 23: 115 cut or sold outQ2 23Q3 23: 109 bought or addedQ3 23: 112 cut or sold outQ3 23Q4 23: 150 bought or addedQ4 23: 81 cut or sold outQ4 23
Numbers
QuarterBought or addedCut or sold out
Q4 2022109100
Q1 202313095
Q2 2023116115
Q3 2023109112
Q4 202315081

Calls vs puts

Options held, notional value, last 4 quarters. P/C = puts ÷ calls

CallsPuts
$0$200m$400m$600m$800mQ1 23 calls: $405.9mQ1 23 puts: $592.9mQ1 23P/C 1.46Q2 23 calls: $366.7mQ2 23 puts: $443.3mQ2 23P/C 1.21Q3 23 calls: $274.1mQ3 23 puts: $492.0mQ3 23P/C 1.80Q4 23 calls: $185.9mQ4 23 puts: $664.5mQ4 23P/C 3.57
Numbers
QuarterCallsPutsP/C
Q1 2023$405.9m$592.9m1.46
Q2 2023$366.7m$443.3m1.21
Q3 2023$274.1m$492.0m1.80
Q4 2023$185.9m$664.5m3.57

Biggest buyers

DEUTSCHE BANK AG\ Added +25,473,559+25.5m
ARROWSTREET CAPITAL, LIMITED PARTNERSHIP Added +19,287,167+19.3m
Capital International Investors New +18,465,257+18.5m
ACADIAN ASSET MANAGEMENT LLC Added +7,731,692+7.7m
MORGAN STANLEY Added +3,660,539+3.7m
CITIGROUP INC Added +3,584,694+3.6m
Liontrust Investment Partners LLP New +3,318,752+3.3m
DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main Added +3,196,091+3.2m
MARSHALL WACE, LLP Added +3,075,255+3.1m
Nuveen Asset Management, LLC New +2,877,499+2.9m

Biggest sellers

Hudson Executive Capital LP Reduced -5,973,756-6.0m
HSBC HOLDINGS PLC Reduced -3,772,579-3.8m
DekaBank Deutsche Girozentrale Reduced -2,961,443-3.0m
Optiver Holding B.V. Reduced -1,981,939-2.0m
NORGES BANK Reduced -1,843,384-1.8m
GOLDMAN SACHS GROUP INC Reduced -1,800,011-1.8m
BANK OF AMERICA CORP /DE/ Reduced -1,452,095-1.5m
JANE STREET GROUP, LLC Reduced -1,347,501-1.3m
UBS Group AG Reduced -1,219,026-1.2m
CREDIT SUISSE AG/ Reduced -1,032,333-1.0m

Biggest calls

HSBC HOLDINGS PLC Reduced $78.9m5.8m shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $29.1m2.1m shares
GOLDMAN SACHS GROUP INC Reduced $21.1m1.6m shares
CITIGROUP INC Reduced $15.1m1.1m shares
MASTERS CAPITAL MANAGEMENT LLC Reduced $13.6m1.0m shares
MILLENNIUM MANAGEMENT LLC New $7.4m600.0k shares
BANK OF AMERICA CORP /DE/ Reduced $5.4m400.0k shares
CITADEL ADVISORS LLC Reduced $4.4m325.3k shares
UBS Group AG Reduced $2.7m200.0k shares
Eisler Capital (UK) Ltd. Added $2.1m157.0k shares

Biggest puts

UBS Group AG Added $209.6m15.5m shares
GOLDMAN SACHS GROUP INC Reduced $123.4m9.1m shares
JPMORGAN CHASE & CO Added $79.7m5.9m shares
BANK OF AMERICA CORP /DE/ Added $56.6m4.2m shares
GROUP ONE TRADING LLC Reduced $35.8m2.6m shares
HSBC HOLDINGS PLC Reduced $30.2m2.2m shares
MILLENNIUM MANAGEMENT LLC Reduced $27.2m2.2m shares
Optiver Holding B.V. Reduced $24.3m1.8m shares
CITIGROUP INC Reduced $19.1m1.4m shares
Eisler Capital (UK) Ltd. Reduced $9.6m706.0k shares

Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.

Insider purchases and sales in Q4 2023

Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.

None reported in Q4 2023.

Holders, Q4 2023

#ManagerLocationShares Value% of their portfolioChangeShares change
1 VANGUARD GROUP INC 0.02% of their portfolio Valley Forge, PA 77,559,23577.6m $1.1bn $1.1bn 0.02% Added +79.0k +79,026
2 DEUTSCHE BANK AG\ 0.53% of their portfolio FRANKFURT AM MAIN, 2M 76,469,09776.5m $1.0bn $1.0bn 0.53% Added +25.5m +25,473,559
3 Hudson Executive Capital LP 87.29% of their portfolio NEW YORK, NY 61,415,92061.4m $838.4m $838.4m 87.29% Reduced -6.0m -5,973,756
4 Amundi 0.27% of their portfolio Paris, I0 43,505,16143.5m $600.8m $600.8m 0.27% Added +2.5m +2,507,324
5 ARROWSTREET CAPITAL, LIMITED PARTNERSHIP 0.61% of their portfolio BOSTON, MA 42,535,11842.5m $579.7m $579.7m 0.61% Added +19.3m +19,287,167
6 GOLDMAN SACHS GROUP INC 0.08% of their portfolio NEW YORK, NY 27,330,97327.3m $370.3m $370.3m 0.08% Reduced -1.8m -1,800,011
7 NORGES BANK 0.06% of their portfolio OSLO, Q8 23,887,68623.9m $326.1m $326.1m 0.06% Reduced -1.8m -1,843,384
8 Cerberus Capital Management, L.P. 5.87% of their portfolio NEW YORK, NY 19,526,25019.5m $266.5m $266.5m 5.87% Unchanged
9 Capital International Investors 0.06% of their portfolio Los Angeles, CA 18,465,25718.5m $252.0m $252.0m 0.06% New
10 DekaBank Deutsche Girozentrale 0.45% of their portfolio FRANKFURT, 2M 15,910,43715.9m $216.9m $216.9m 0.45% Reduced -3.0m -2,961,443
11 BANK OF AMERICA CORP /DE/ 0.02% of their portfolio CHARLOTTE, NC 15,325,57015.3m $207.7m $207.7m 0.02% Reduced -1.5m -1,452,095
12 DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main 0.25% of their portfolio FRANKFURT AM MAIN, 2M 13,559,28813.6m $185.2m $185.2m 0.25% Added +3.2m +3,196,091
13 CITIGROUP INC 0.22% of their portfolio NEW YORK, NY 12,282,37212.3m $167.4m $167.4m 0.22% Added +3.6m +3,584,694
14 JPMORGAN CHASE & CO 0.01% of their portfolio NEW YORK, NY 9,689,3159.7m $131.3m $131.3m 0.01% Reduced -451.2k -451,247
15 ACADIAN ASSET MANAGEMENT LLC 0.47% of their portfolio Boston, MA 8,832,4308.8m $120.6m $120.6m 0.47% Added +7.7m +7,731,692
16 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 7,716,6547.7m $104.6m $104.6m 0.00% Added +3.7m +3,660,539
17 COMMERZBANK AKTIENGESELLSCHAFT /FI 4.03% of their portfolio FRANKFURT, 2M 7,494,6707.5m $101.6m $101.6m 4.03% Reduced -339.5k -339,523
18 FRANKLIN RESOURCES INC 0.04% of their portfolio San Mateo, CA 5,999,4296.0m $81.9m $81.9m 0.04% Added +648.7k +648,738
19 CREDIT SUISSE AG/ 0.06% of their portfolio ZURICH, V8 4,825,7764.8m $65.4m $65.4m 0.06% Reduced -1.0m -1,032,333
20 Sumitomo Mitsui Trust Group, Inc. 0.05% of their portfolio CHIYODA-KU, TOKYO, M0 4,747,1374.7m $64.9m $64.9m 0.05% Added +353.6k +353,600
21 Invesco Ltd. 0.01% of their portfolio ATLANTA, GA 3,907,9013.9m $53.0m $53.0m 0.01% Added +1.2m +1,150,974
22 AXA S.A. 0.08% of their portfolio PARIS, I0 3,839,2563.8m $52.0m $52.0m 0.08% Added +2.5m +2,467,578
23 Russell Investments Group, Ltd. 0.09% of their portfolio Seattle, WA 3,779,8753.8m $51.6m $51.6m 0.09% Added +230.3k +230,332
24 Bank of New York Mellon Corp 0.01% of their portfolio NEW YORK, NY 3,701,8513.7m $50.2m $50.2m 0.01% Reduced -127.8k -127,758
25 CANADA PENSION PLAN INVESTMENT BOARD 0.06% of their portfolio TORONTO ONTARIO, A6 3,565,3573.6m $48.7m $48.7m 0.06% Added +35.3k +35,263
26 MARSHALL WACE, LLP 0.09% of their portfolio LONDON, X0 3,523,8963.5m $48.1m $48.1m 0.09% Added +3.1m +3,075,255
27 Allianz Asset Management GmbH 0.09% of their portfolio MUNICH, 2M 3,452,6543.5m $47.2m $47.2m 0.09% Reduced -164.2k -164,233
28 Liontrust Investment Partners LLP 0.66% of their portfolio LONDON, X0 3,318,7523.3m $45.3m $45.3m 0.66% New
29 Banco Santander, S.A. 0.52% of their portfolio Madrid, U3 3,230,1153.2m $44.1m $44.1m 0.52% Added +78.3k +78,320
30 UBS Group AG 0.02% of their portfolio ZURICH, V8 3,172,2563.2m $43.0m $43.0m 0.02% Reduced -1.2m -1,219,026
31 TWO SIGMA ADVISERS, LP 0.09% of their portfolio NEW YORK, NY 2,949,6232.9m $40.0m $40.0m 0.09% Added +369.2k +369,200
32 Nuveen Asset Management, LLC 0.01% of their portfolio CHICAGO, IL 2,877,4992.9m $39.3m $39.3m 0.01% New
33 AVIVA PLC 0.13% of their portfolio LONDON, X0 2,615,6192.6m $35.8m $35.8m 0.13% Added +32.6k +32,579
34 THIRD AVENUE MANAGEMENT LLC 5.57% of their portfolio NEW YORK, NY 2,486,5692.5m $34.0m $34.0m 5.57% Added +1.2k +1,228
35 HSBC HOLDINGS PLC 0.03% of their portfolio LONDON, X0 2,246,3782.2m $30.8m $30.8m 0.03% Reduced -3.8m -3,772,579
36 MASTERS CAPITAL MANAGEMENT LLC 4.76% of their portfolio ATLANTA, GA 2,000,0002.0m $27.1m $27.1m 4.76% Added +15.0k +15,000
37 Mitsubishi UFJ Trust & Banking Corp 0.06% of their portfolio TOKYO, M0 1,760,7441.8m $23.8m $23.8m 0.06% Added +56.0k +56,019
38 TWO SIGMA INVESTMENTS, LP 0.06% of their portfolio NEW YORK, NY 1,725,9261.7m $23.4m $23.4m 0.06% Added +905.8k +905,800
39 Zurcher Kantonalbank (Zurich Cantonalbank) 0.09% of their portfolio ZURICH, V8 1,641,7591.6m $22.4m $22.4m 0.09% Reduced -187.4k -187,416
40 MEAG MUNICH ERGO, Kapitalanlagegesellschaft mbH 0.76% of their portfolio Munich, 2M 1,467,9041.5m $20.0m $20.0m 0.76% Reduced -254.9k -254,867
41 Capital International, Inc./CA/ 0.31% of their portfolio Los Angeles, CA 1,433,8521.4m $19.6m $19.6m 0.31% New
42 FMR LLC 0.00% of their portfolio BOSTON, MA 1,419,1471.4m $19.4m $19.4m 0.00% Added +352.7k +352,732
43 Pictet Asset Management Holding SA 0.02% of their portfolio CAROUGE, V8 1,376,9011.4m $18.8m $18.8m 0.02% Added +207.6k +207,614
44 JANE STREET GROUP, LLC 0.02% of their portfolio NEW YORK, NY 1,323,2271.3m $17.9m $17.9m 0.02% Reduced -1.3m -1,347,501
45 BlackRock Inc. 0.00% of their portfolio New York, NY 1,307,7431.3m $17.7m $17.7m 0.00% Added +117.4k +117,431
46 Marex Group Ltd 0.70% of their portfolio London, X0 1,299,9881.3m $17.7m $17.7m 0.70% New
47 TORONTO DOMINION BANK 0.02% of their portfolio TORONTO, ONTARIO, A6 1,239,5191.2m $16.8m $16.8m 0.02% Reduced -673.3k -673,323
48 Vontobel Holding Ltd. 0.14% of their portfolio ZURICH, V8 1,236,8011.2m $16.9m $16.9m 0.14% Reduced -247.7k -247,713
49 BANK OF MONTREAL /CAN/ 0.00% of their portfolio TORONTO, A6 1,019,8551.0m $14.0m $14.0m 0.00% Added +102.6k +102,623
50 Public Sector Pension Investment Board 0.10% of their portfolio MONTREAL, A8 952,675952.7k $13.0m $13.0m 0.10% Added +21.2k +21,230
51 NORTHERN TRUST CORP 0.00% of their portfolio CHICAGO, IL 944,689944.7k $12.8m $12.8m 0.00% Added +23.6k +23,605
52 CREDIT AGRICOLE S A 0.26% of their portfolio Montrouge Cedex, I0 924,585924.6k $12.5m $12.5m 0.26% Added +351.1k +351,084
53 MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.01% of their portfolio Toronto, A6 785,576785.6k $10.7m $10.7m 0.01% Reduced -81.7k -81,740
54 MUTUAL OF AMERICA CAPITAL MANAGEMENT LLC 0.12% of their portfolio New York, NY 774,076774.1k $10.6m $10.6m 0.12% Unchanged
55 AMERICAN CENTURY COMPANIES INC 0.01% of their portfolio KANSAS CITY, MO 726,322726.3k $9.8m $9.8m 0.01% Added +49.4k +49,438
56 M&G INVESTMENT MANAGEMENT LTD 0.05% of their portfolio London, X0 679,956680.0k $9.0m $9.0m 0.05% Added +53.6k +53,619
57 CITADEL ADVISORS LLC 0.01% of their portfolio MIAMI, FL 679,192679.2k $9.2m $9.2m 0.01% Added +572.5k +572,490
58 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.02% of their portfolio BALA CYNWYD, PA 661,547661.5k $9.0m $9.0m 0.02% Added +227.5k +227,461
59 WELLINGTON MANAGEMENT GROUP LLP 0.00% of their portfolio Boston, MA 563,387563.4k $7.7m $7.7m 0.00% Added +135.4k +135,371
60 ALLIANCEBERNSTEIN L.P. 0.00% of their portfolio NASHVILLE, TN 551,639551.6k $7.5m $7.5m 0.00% Added +160.5k +160,452
61 FIRST TRUST ADVISORS LP 0.01% of their portfolio Wheaton, IL 516,221516.2k $7.0m $7.0m 0.01% Added +251.3k +251,305
62 TD Asset Management Inc 0.01% of their portfolio Toronto, A6 414,752414.8k $5.7m $5.7m 0.01% Added +5.4k +5,442
63 LGT Group Foundation 0.12% of their portfolio VADUZ, N2 408,729408.7k $5.5m $5.5m 0.12% Added +8.4k +8,388
64 Andra AP-fonden 0.26% of their portfolio GOTEBORG, V7 399,823399.8k $4.9m $4.9m 0.26% Reduced -253.7k -253,704
65 MACKENZIE FINANCIAL CORP 0.01% of their portfolio TORONTO ONTARIO, A6 384,707384.7k $5.2m $5.2m 0.01% Added +62.4k +62,427
66 Private Advisory Group LLC 0.89% of their portfolio REDMOND, WA 378,501378.5k $5.1m $5.1m 0.89% Reduced -3.4k -3,445
67 JUPITER ASSET MANAGEMENT LTD 0.05% of their portfolio London, X0 345,924345.9k $4.7m $4.7m 0.05% Added +236.4k +236,388
68 VOYA INVESTMENT MANAGEMENT LLC 0.00% of their portfolio ATLANTA, GA 324,050324.1k $4.4m $4.4m 0.00% Added +14.8k +14,754
69 ROYAL LONDON ASSET MANAGEMENT LTD 0.01% of their portfolio UNITED KINGDOM, X0 323,763323.8k $4.4m $4.4m 0.01% Unchanged
70 O'SHAUGHNESSY ASSET MANAGEMENT, LLC 0.06% of their portfolio Stamford, CT 312,913312.9k $4.2m $4.2m 0.06% Added +70.2k +70,225
71 Korea Investment CORP 0.01% of their portfolio SEOUL, M5 311,268311.3k $4.3m $4.3m 0.01% Reduced -58.2k -58,155
72 CAPITAL FUND MANAGEMENT S.A. 0.05% of their portfolio PARIS, I0 294,208294.2k $4.0m $4.0m 0.05% Added +17.7k +17,711
73 Achmea Investment Management B.V. 0.08% of their portfolio ZEIST, P7 293,757293.8k $4.0m $4.0m 0.08% Added +139.2k +139,184
74 FORSTA AP-FONDEN 0.00% of their portfolio STOCKHOLM, V7 292,095292.1k $0 $0 0.00% Reduced -51.1k -51,143
75 USS Investment Management Ltd 0.03% of their portfolio London, X0 274,830274.8k $3.7m $3.7m 0.03% Added +24.2k +24,210
76 Legal & General Group Plc 0.00% of their portfolio London, X0 273,526273.5k $3.7m $3.7m 0.00% Added +99.2k +99,186
77 CAPITAL INTERNATIONAL SARL 0.13% of their portfolio Los Angeles, CA 253,168253.2k $3.5m $3.5m 0.13% New
78 BNP PARIBAS FINANCIAL MARKETS 0.01% of their portfolio PARIS, I0 247,971248.0k $3.4m $3.4m 0.01% Added +129.5k +129,488
79 QRG CAPITAL MANAGEMENT, INC. 0.05% of their portfolio BERWYN, PA 240,139240.1k $3.3m $3.3m 0.05% Added +29.4k +29,399
80 NATIXIS ADVISORS, LLC 0.01% of their portfolio Boston, MA 238,966239.0k $3.2m $3.2m 0.01% Added +28.4k +28,387
81 Utah Retirement Systems 0.04% of their portfolio SALT LAKE CITY, UT 235,093235.1k $3.2m $3.2m 0.04% Reduced -2.2k -2,200
82 OCCUDO QUANTITATIVE STRATEGIES LP 0.40% of their portfolio FORT LAUDERDALE, FL 219,564219.6k $3.0m $3.0m 0.40% Added +3.2k +3,216
83 CAPITAL INTERNATIONAL LTD /CA/ 0.15% of their portfolio LOS ANGELES, CA 219,122219.1k $3.0m $3.0m 0.15% New
84 1832 Asset Management L.P. 0.01% of their portfolio TORONTO, A6 207,735207.7k $2.8m $2.8m 0.01% Reduced -47.0k -47,011
85 GTS SECURITIES LLC 0.06% of their portfolio NEW YORK, NY 207,027207.0k $2.8m $2.8m 0.06% New
86 PRUDENTIAL PLC 0.03% of their portfolio LONDON, X0 205,546205.5k $2.8m $2.8m 0.03% Added +4.5k +4,548
87 JANUS HENDERSON GROUP PLC 0.00% of their portfolio LONDON, X0 201,319201.3k $2.7m $2.7m 0.00% Reduced -1.8k -1,752
88 GROUP ONE TRADING LLC 0.08% of their portfolio CHICAGO, IL 197,663197.7k $2.7m $2.7m 0.08% Added +930 +930
89 MERCER GLOBAL ADVISORS INC /ADV 0.01% of their portfolio DENVER, CO 189,433189.4k $2.6m $2.6m 0.01% Added +22.9k +22,868
90 HPC Germany GmbH & Co. KG 9.50% of their portfolio POTSDAM, 2M 186,815186.8k $2.5m $2.5m 9.50% Unchanged
91 Quantinno Capital Management LP 0.09% of their portfolio NEW YORK, NY 181,593181.6k $2.5m $2.5m 0.09% Added +61.1k +61,079
92 ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio Berwyn, PA 178,903178.9k $2.4m $2.4m 0.00% Reduced -6.3k -6,295
93 Optiver Holding B.V. 0.07% of their portfolio AMSTERDAM, P7 173,571173.6k $2.4m $2.4m 0.07% Reduced -2.0m -1,981,939
94 Parallax Volatility Advisers, L.P. 0.06% of their portfolio San Francisco, CA 167,014167.0k $2.3m $2.3m 0.06% Added +11.0k +11,029
95 Baader Bank Aktiengesellschaft 0.18% of their portfolio Unterschleissheim, 2M 156,000156.0k $2.1m $2.1m 0.18% Unchanged
96 Employees Retirement System of Texas 0.02% of their portfolio AUSTIN, TX 134,737134.7k $1.8m $1.8m 0.02% Added +97.8k +97,781
97 Quinn Opportunity Partners LLC 0.21% of their portfolio CHARLOTTESVILLE, VA 133,326133.3k $1.8m $1.8m 0.21% Reduced -40.0k -40,000
98 Jefferies Financial Group Inc. 0.03% of their portfolio NEW YORK, NY 130,939130.9k $1.8m $1.8m 0.03% Added +130.8k +130,758
99 Wealthspire Advisors, LLC 0.02% of their portfolio NEW YORK, NY 128,690128.7k $1.7m $1.7m 0.02% Added +45.8k +45,849
100 Crossmark Global Holdings, Inc. 0.04% of their portfolio HOUSTON, TX 128,224128.2k $1.7m $1.7m 0.04% Added +9.6k +9,574