Vault-13

DEUTSCHE BANK A G DB

NAMEN AKT · Common Stock · CUSIP D18190898

355 institutional holders +37 vs Q4 2024
619,299,590619.3m shares reported held*
31.8% of all shares outstanding*
$14.6bnreported value*
68 new 137 added 88 reduced 30 sold out net bought ≈ $345.5m (+14.1m 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 ($3.8m this quarter). Holder counts are more reliable. Shares outstanding: 1.9bn as of 2024-12-31, 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 ≈ $23.64. Options: 17 managers hold calls ($465.0m notional), 25 hold puts ($1.1bn).

Trends to Q1 2025

Institutional holders

Managers reporting a position, each quarter

0200400Q3 22: 226Q4 22: 227Q1 23: 248Q2 23: 250Q3 23: 248Q4 23: 271Q1 24: 270Q2 24: 295Q3 24: 299Q4 24: 318Q1 25: 355355Q3 22Q1 23Q3 23Q1 24Q3 24Q1 25
Numbers
QuarterHolders
Q3 2022226
Q4 2022227
Q1 2023248
Q2 2023250
Q3 2023248
Q4 2023271
Q1 2024270
Q2 2024295
Q3 2024299
Q4 2024318
Q1 2025355

Buyers vs sellers

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

Bought or addedCut or sold out
4000400Q2 23: 116 bought or addedQ2 23: 115 cut or sold outQ3 23: 109 bought or addedQ3 23: 112 cut or sold outQ3 23Q4 23: 150 bought or addedQ4 23: 81 cut or sold outQ1 24: 133 bought or addedQ1 24: 107 cut or sold outQ1 24Q2 24: 173 bought or addedQ2 24: 100 cut or sold outQ3 24: 144 bought or addedQ3 24: 124 cut or sold outQ3 24Q4 24: 166 bought or addedQ4 24: 100 cut or sold outQ1 25: 205 bought or addedQ1 25: 118 cut or sold outQ1 25
Numbers
QuarterBought or addedCut or sold out
Q2 2023116115
Q3 2023109112
Q4 202315081
Q1 2024133107
Q2 2024173100
Q3 2024144124
Q4 2024166100
Q1 2025205118

Calls vs puts

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

CallsPuts
$0$500m$1bn$1.5bnQ2 24 calls: $401.5mQ2 24 puts: $498.3mQ2 24P/C 1.24Q3 24 calls: $323.7mQ3 24 puts: $591.0mQ3 24P/C 1.83Q4 24 calls: $177.5mQ4 24 puts: $487.1mQ4 24P/C 2.74Q1 25 calls: $465.0mQ1 25 puts: $1.1bnQ1 25P/C 2.28
Numbers
QuarterCallsPutsP/C
Q2 2024$401.5m$498.3m1.24
Q3 2024$323.7m$591.0m1.83
Q4 2024$177.5m$487.1m2.74
Q1 2025$465.0m$1.1bn2.28

Biggest buyers

GQG Partners LLC New +19,970,945+20.0m
Fisher Asset Management, LLC New +18,865,651+18.9m
ENTRUST GLOBAL PARTNERS L L C New +15,499,177+15.5m
VIKING GLOBAL INVESTORS LP New +15,106,082+15.1m
Capital International Investors Added +8,362,498+8.4m
FMR LLC Added +7,735,424+7.7m
Capital World Investors New +4,360,671+4.4m
DEUTSCHE BANK AG\ Added +4,322,086+4.3m
APPALOOSA LP New +3,750,000+3.8m
DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main Added +2,354,190+2.4m

Biggest sellers

ARROWSTREET CAPITAL, LIMITED PARTNERSHIP Reduced -25,149,011-25.1m
Hudson Executive Capital LP Sold out -15,541,575-15.5m
MARSHALL WACE, LLP Reduced -12,519,514-12.5m
NORGES BANK Reduced -11,116,234-11.1m
ACADIAN ASSET MANAGEMENT LLC Reduced -7,032,247-7.0m
Liontrust Investment Partners LLP Sold out -4,845,135-4.8m
Amundi Reduced -3,914,817-3.9m
GOLDMAN SACHS GROUP INC Reduced -2,894,789-2.9m
CREDIT AGRICOLE S A Reduced -2,100,452-2.1m
COMMERZBANK AKTIENGESELLSCHAFT /FI Reduced -2,073,508-2.1m

Biggest calls

SIH Partners, LLLP New $98.3m4.1m shares
HSBC HOLDINGS PLC Reduced $96.6m4.1m shares
UBS Group AG Added $75.7m3.2m shares
GOLDMAN SACHS GROUP INC Added $67.1m2.8m shares
BANK OF AMERICA CORP /DE/ Unchanged $33.4m1.4m shares
MASTERS CAPITAL MANAGEMENT LLC Unchanged $23.8m1.0m shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $23.4m979.9k shares
Symmetry Investments LP New $11.0m462.0k shares
MILLENNIUM MANAGEMENT LLC New $9.1m406.4k shares
PEAK6 LLC New $7.4m308.8k shares

Biggest puts

SIH Partners, LLLP New $298.3m12.5m shares
UBS Group AG Added $185.2m7.8m shares
JPMORGAN CHASE & CO Added $139.9m5.9m shares
BANK OF AMERICA CORP /DE/ Reduced $134.0m5.6m shares
GOLDMAN SACHS GROUP INC Reduced $101.4m4.3m shares
HSBC HOLDINGS PLC Added $51.9m2.2m shares
Optiver Holding B.V. Added $27.6m1.2m shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Added $20.8m874.7k shares
JANE STREET GROUP, LLC Reduced $19.0m797.3k shares
Qube Research & Technologies Ltd New $15.7m664.3k 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 Q1 2025

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 Q1 2025.

Holders, Q1 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 Capital International Investors 0.45% of their portfolio Los Angeles, CA 96,023,31696.0m $2.3bn $2.3bn 0.45% Added +8.4m +8,362,498
2 VANGUARD GROUP INC 0.03% of their portfolio Valley Forge, PA 79,404,82179.4m $1.9bn $1.9bn 0.03% Added +370.3k +370,319
3 DEUTSCHE BANK AG\ 0.45% of their portfolio FRANKFURT AM MAIN, 2M 47,662,92847.7m $1.1bn $1.1bn 0.45% Added +4.3m +4,322,086
4 Amundi 0.29% of their portfolio Paris, I0 35,261,50835.3m $806.8m $806.8m 0.29% Reduced -3.9m -3,914,817
5 NORGES BANK 0.11% of their portfolio OSLO, Q8 33,767,93133.8m $797.3m $797.3m 0.11% Reduced -11.1m -11,116,234
6 UBS Group AG 0.16% of their portfolio ZURICH, V8 29,376,38129.4m $700.0m $700.0m 0.16% Reduced -1.7m -1,672,157
7 GQG Partners LLC 0.75% of their portfolio FT. LAUDERDALE, FL 19,970,94520.0m $470.7m $470.7m 0.75% New
8 Fisher Asset Management, LLC 0.19% of their portfolio PLANO, TX 18,865,65118.9m $449.6m $449.6m 0.19% New
9 DekaBank Deutsche Girozentrale 0.72% of their portfolio FRANKFURT, 2M 15,828,16115.8m $367.9m $367.9m 0.72% Reduced -612.8k -612,821
10 ENTRUST GLOBAL PARTNERS L L C 74.36% of their portfolio New York, NY 15,499,17715.5m $365.8m $365.8m 74.36% New
11 Legal & General Group Plc 0.10% of their portfolio London, X0 15,466,75015.5m $364.6m $364.6m 0.10% Reduced -620.0k -620,014
12 VIKING GLOBAL INVESTORS LP 1.13% of their portfolio STAMFORD, CT 15,106,08215.1m $356.4m $356.4m 1.13% New
13 FRANKLIN RESOURCES INC 0.09% of their portfolio San Mateo, CA 13,635,90113.6m $322.0m $322.0m 0.09% Added +704.2k +704,212
14 ARROWSTREET CAPITAL, LIMITED PARTNERSHIP 0.24% of their portfolio BOSTON, MA 12,685,53612.7m $300.1m $300.1m 0.24% Reduced -25.1m -25,149,011
15 DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main 0.34% of their portfolio FRANKFURT AM MAIN, 2M 12,414,81712.4m $292.6m $292.6m 0.34% Added +2.4m +2,354,190
16 BANK OF AMERICA CORP /DE/ 0.02% of their portfolio CHARLOTTE, NC 9,885,7669.9m $235.6m $235.6m 0.02% Added +499.4k +499,403
17 FMR LLC 0.01% of their portfolio BOSTON, MA 9,623,5929.6m $227.1m $227.1m 0.01% Added +7.7m +7,735,424
18 Capital International, Inc./CA/ 2.61% of their portfolio Los Angeles, CA 9,107,3249.1m $214.9m $214.9m 2.61% Reduced -162.5k -162,500
19 JPMORGAN CHASE & CO 0.01% of their portfolio NEW YORK, NY 7,908,8697.9m $188.5m $188.5m 0.01% Added +1.4m +1,369,793
20 GOLDMAN SACHS GROUP INC 0.04% of their portfolio NEW YORK, NY 7,767,3257.8m $185.1m $185.1m 0.04% Reduced -2.9m -2,894,789
21 Grantham, Mayo, Van Otterloo & Co. LLC 0.42% of their portfolio Boston, MA 5,712,0195.7m $134.6m $134.6m 0.42% Added +311.6k +311,552
22 ACADIAN ASSET MANAGEMENT LLC 0.34% of their portfolio Boston, MA 5,162,1875.2m $121.6m $121.6m 0.34% Reduced -7.0m -7,032,247
23 Capital World Investors 0.02% of their portfolio LOS ANGELES, CA 4,360,6714.4m $103.0m $103.0m 0.02% New
24 CITIGROUP INC 0.08% of their portfolio NEW YORK, NY 4,196,8454.2m $100.0m $100.0m 0.08% Added +1.2m +1,237,056
25 Invesco Ltd. 0.02% of their portfolio ATLANTA, GA 4,165,4144.2m $99.3m $99.3m 0.02% Added +14.1k +14,099
26 MORGAN STANLEY 0.01% of their portfolio NEW YORK, NY 3,992,0484.0m $95.1m $95.1m 0.01% Reduced -393.1k -393,145
27 APPALOOSA LP 1.61% of their portfolio Short Hills, NJ 3,750,0003.8m $89.4m $89.4m 1.61% New
28 Russell Investments Group, Ltd. 0.11% of their portfolio Seattle, WA 3,272,8573.3m $77.2m $77.2m 0.11% Reduced -1.1m -1,066,256
29 Bank of New York Mellon Corp 0.01% of their portfolio NEW YORK, NY 3,099,2623.1m $73.9m $73.9m 0.01% Reduced -33.3k -33,253
30 AVIVA PLC 0.15% of their portfolio LONDON, X0 2,659,6192.7m $62.6m $62.6m 0.15% Added +281.7k +281,696
31 Capital Group Private Client Services, Inc. 0.58% of their portfolio Los Angeles, CA 2,520,7432.5m $59.5m $59.5m 0.58% Added +1.1m +1,108,593
32 MARSHALL WACE, LLP 0.08% of their portfolio LONDON, X0 2,514,5252.5m $59.3m $59.3m 0.08% Reduced -12.5m -12,519,514
33 UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.02% of their portfolio NEW YORK, NY 2,488,0212.5m $59.3m $59.3m 0.02% Reduced -47.4k -47,443
34 Korea Investment CORP 0.12% of their portfolio SEOUL, M5 2,106,1952.1m $49.6m $49.6m 0.12% Added +459.0k +459,049
35 CANADA PENSION PLAN INVESTMENT BOARD 0.05% of their portfolio TORONTO ONTARIO, A6 2,071,2062.1m $48.9m $48.9m 0.05% Reduced -7.5k -7,518
36 WELLINGTON MANAGEMENT GROUP LLP 0.01% of their portfolio Boston, MA 1,995,2582.0m $47.0m $47.0m 0.01% Added +1.5m +1,498,577
37 JANUS HENDERSON GROUP PLC 0.03% of their portfolio LONDON, X0 1,988,5472.0m $47.7m $47.7m 0.03% Reduced -45.2k -45,246
38 MEAG MUNICH ERGO, Kapitalanlagegesellschaft mbH 1.26% of their portfolio Munich, 2M 1,825,5551.8m $43.0m $43.0m 1.26% Reduced -460.8k -460,761
39 Zurcher Kantonalbank (Zurich Cantonalbank) 0.11% of their portfolio ZURICH, V8 1,637,8971.6m $38.6m $38.6m 0.11% Reduced -892.9k -892,862
40 CREDIT AGRICOLE S A 0.15% of their portfolio Montrouge Cedex, I0 1,621,2561.6m $38.6m $38.6m 0.15% Reduced -2.1m -2,100,452
41 COMMERZBANK AKTIENGESELLSCHAFT /FI 0.89% of their portfolio FRANKFURT, 2M 1,594,0461.6m $38.0m $38.0m 0.89% Reduced -2.1m -2,073,508
42 BlackRock, Inc. 0.00% of their portfolio New York, NY 1,561,8601.6m $37.2m $37.2m 0.00% Added +46.3k +46,323
43 CAPITAL INTERNATIONAL SARL 0.83% of their portfolio Los Angeles, CA 1,550,5591.6m $36.6m $36.6m 0.83% Added +189.7k +189,668
44 Pictet Asset Management Holding SA 0.04% of their portfolio CAROUGE, V8 1,545,3761.5m $36.4m $36.4m 0.04% Added +5.5k +5,512
45 CAUSEWAY CAPITAL MANAGEMENT LLC 0.75% of their portfolio LOS ANGELES, CA 1,513,5001.5m $36.1m $36.1m 0.75% New
46 NORTHERN TRUST CORP 0.01% of their portfolio CHICAGO, IL 1,504,1751.5m $35.8m $35.8m 0.01% Added +66.9k +66,892
47 Public Sector Pension Investment Board 0.15% of their portfolio MONTREAL, A8 1,494,9981.5m $35.2m $35.2m 0.15% Added +37.7k +37,682
48 THIRD AVENUE MANAGEMENT LLC 6.84% of their portfolio NEW YORK, NY 1,447,5701.4m $34.1m $34.1m 6.84% Reduced -738.9k -738,934
49 PUBLIC EMPLOYEES RETIREMENT SYSTEM OF OHIO 0.12% of their portfolio COLUMBUS, OH 1,374,6021.4m $32.7m $32.7m 0.12% Reduced -533.5k -533,487
50 ROYAL BANK OF CANADA 0.01% of their portfolio TORONTO, A6 1,339,4291.3m $31.9m $31.9m 0.01% Added +629.7k +629,745
51 Allianz Asset Management GmbH 0.04% of their portfolio MUNICH, 2M 1,255,0391.3m $29.9m $29.9m 0.04% Reduced -341.4k -341,409
52 HSBC HOLDINGS PLC 0.02% of their portfolio LONDON, X0 1,235,2381.2m $29.1m $29.1m 0.02% Reduced -654.0k -653,970
53 Marex Group Ltd 0.55% of their portfolio London, X0 1,213,5471.2m $28.9m $28.9m 0.55% Added +37.9k +37,897
54 WELLS FARGO & COMPANY/MN 0.01% of their portfolio SAN FRANCISCO, CA 1,084,1061.1m $25.8m $25.8m 0.01% Added +640.7k +640,718
55 JUPITER ASSET MANAGEMENT LTD 0.22% of their portfolio London, X0 993,475993.5k $23.4m $23.4m 0.22% Reduced -400.7k -400,724
56 BANK OF MONTREAL /CAN/ 0.01% of their portfolio TORONTO, A6 936,440936.4k $22.1m $22.1m 0.01% Added +36.8k +36,826
57 AMERICAN CENTURY COMPANIES INC 0.01% of their portfolio KANSAS CITY, MO 930,135930.1k $22.2m $22.2m 0.01% Added +33.0k +33,027
58 MILLENNIUM MANAGEMENT LLC 0.02% of their portfolio NEW YORK, NY 910,699910.7k $21.7m $21.7m 0.02% Added +884.4k +884,424
59 CAPITAL INTERNATIONAL LTD /CA/ 0.92% of their portfolio LOS ANGELES, CA 892,793892.8k $21.1m $21.1m 0.92% Added +20.4k +20,373
60 Nuveen, LLC 0.00% of their portfolio CHARLOTTE, NC 819,955820.0k $13.0m $13.0m 0.00% First filing
61 MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.02% of their portfolio Toronto, A6 816,459816.5k $19.3m $19.3m 0.02% Reduced -17.1k -17,051
62 MUTUAL OF AMERICA CAPITAL MANAGEMENT LLC 0.22% of their portfolio New York, NY 804,991805.0k $19.2m $19.2m 0.22% Reduced -11.9k -11,864
63 SIH Partners, LLLP 1.55% of their portfolio Wilmington, DE 742,363742.4k $17.7m $17.7m 1.55% Added +672.7k +672,722
64 Banco Santander, S.A. 0.19% of their portfolio Madrid, U3 732,388732.4k $17.5m $17.5m 0.19% Reduced -74.0k -74,017
65 Ilex Capital Partners (UK) LLP 0.71% of their portfolio London, X0 731,925731.9k $17.3m $17.3m 0.71% New
66 ENVESTNET ASSET MANAGEMENT INC 0.01% of their portfolio Berwyn, PA 709,211709.2k $16.9m $16.9m 0.01% Added +448.6k +448,567
67 Lansforsakringar Fondforvaltning AB (publ) 0.10% of their portfolio Stockholm, V7 688,498688.5k $16.2m $16.2m 0.10% Reduced -595.2k -595,170
68 O'SHAUGHNESSY ASSET MANAGEMENT, LLC 0.12% of their portfolio Stamford, CT 629,673629.7k $15.0m $15.0m 0.12% Added +101.8k +101,758
69 TD Asset Management Inc 0.01% of their portfolio Toronto, A6 619,541619.5k $14.6m $14.6m 0.01% Added +69.0k +68,992
70 Groupe la Francaise 0.32% of their portfolio PARIS, I0 608,396608.4k $15.0m $15.0m 0.32% New
71 VOYA INVESTMENT MANAGEMENT LLC 0.01% of their portfolio ATLANTA, GA 581,330581.3k $13.7m $13.7m 0.01% Added +258.7k +258,686
72 Compagnie Lombard Odier SCmA 0.15% of their portfolio 1204 GENEVA, V8 535,149535.1k $12.6m $12.6m 0.15% Added +411.3k +411,269
73 RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio ST. PETERSBURG, FL 518,941518.9k $12.4m $12.4m 0.00% Added +139.8k +139,849
74 Rockefeller Capital Management L.P. 0.03% of their portfolio NEW YORK, NY 518,470518.5k $12.4m $12.4m 0.03% Added +455.0k +455,007
75 Baader Bank Aktiengesellschaft 1.15% of their portfolio Unterschleissheim, 2M 476,590476.6k $11.4m $11.4m 1.15% Reduced -58.3k -58,284
76 Gemsstock Ltd. 4.18% of their portfolio London, X0 470,050470.1k $11.1m $11.1m 4.18% Reduced -438.9k -438,923
77 Vontobel Holding Ltd. 0.04% of their portfolio ZURICH, V8 465,266465.3k $11.0m $11.0m 0.04% Reduced -155.6k -155,643
78 ROYAL LONDON ASSET MANAGEMENT LTD 0.03% of their portfolio UNITED KINGDOM, X0 451,433451.4k $10.8m $10.8m 0.03% Added +94.1k +94,062
79 MACKENZIE FINANCIAL CORP 0.01% of their portfolio TORONTO ONTARIO, A6 427,256427.3k $10.1m $10.1m 0.01% Reduced -1.4m -1,401,583
80 FIRST TRUST ADVISORS LP 0.01% of their portfolio Wheaton, IL 425,573425.6k $10.1m $10.1m 0.01% Added +85.8k +85,763
81 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.02% of their portfolio BALA CYNWYD, PA 407,957408.0k $9.7m $9.7m 0.02% Added +181.2k +181,240
82 NATIXIS ADVISORS, LLC 0.02% of their portfolio Boston, MA 395,495395.5k $9.4m $9.4m 0.02% Added +35.1k +35,112
83 Mitsubishi UFJ Trust & Banking Corp 0.02% of their portfolio TOKYO, M0 385,947385.9k $9.3m $9.3m 0.02% Reduced -1.6m -1,612,329
84 JANE STREET GROUP, LLC 0.02% of their portfolio NEW YORK, NY 378,532378.5k $9.0m $9.0m 0.02% Reduced -980.5k -980,461
85 SUSQUEHANNA ADVISORS GROUP, INC. 0.55% of their portfolio BALA CYNWYD, PA 358,684358.7k $8.5m $8.5m 0.55% New
86 Quantinno Capital Management LP 0.05% of their portfolio NEW YORK, NY 351,947351.9k $8.4m $8.4m 0.05% Added +59.2k +59,201
87 Zurich Insurance Group Ltd/FI 0.07% of their portfolio ZURICH, V8 351,003351.0k $8.3m $8.3m 0.07% New
88 ASR Vermogensbeheer N.V. 0.12% of their portfolio UTRECHT, P7 338,598338.6k $8.0m $8.0m 0.12% First filing
89 ALLIANCEBERNSTEIN L.P. 0.00% of their portfolio NASHVILLE, TN 321,784321.8k $7.7m $7.7m 0.00% Reduced -133.4k -133,424
90 USS Investment Management Ltd 0.05% of their portfolio London, X0 285,171285.2k $6.8m $6.8m 0.05% Unchanged
91 AXA S.A. 0.02% of their portfolio PARIS, I0 284,533284.5k $6.8m $6.8m 0.02% Reduced -116.5k -116,521
92 NATIONAL BANK OF CANADA /FI/ 0.01% of their portfolio MONTREAL, A8 272,388272.4k $9.3m $9.3m 0.01% Added +249.2k +249,236
93 QRG CAPITAL MANAGEMENT, INC. 0.06% of their portfolio BERWYN, PA 256,249256.2k $6.1m $6.1m 0.06% Reduced -92.3k -92,317
94 LEUTHOLD GROUP, LLC 0.79% of their portfolio MINNEAPOLIS, MN 255,844255.8k $6.1m $6.1m 0.79% Reduced -14.0k -14,036
95 Generali Asset Management SPA SGR 0.14% of their portfolio TRIESTE, L6 251,631251.6k $5.5m $5.5m 0.14% Added +15.5k +15,473
96 FORSTA AP-FONDEN 0.00% of their portfolio STOCKHOLM, V7 247,261247.3k $0 $0 0.00% Added +174.6k +174,572
97 Mediolanum International Funds Ltd 0.08% of their portfolio DUBLIN 1, L2 247,171247.2k $5.9m $5.9m 0.08% Reduced -51.2k -51,156
98 ASSETMARK, INC 0.02% of their portfolio CONCORD, CA 246,430246.4k $5.9m $5.9m 0.02% Added +225.1k +225,082
99 Fiera Capital Corp 0.02% of their portfolio MONTREAL, A8 244,290244.3k $5.8m $5.8m 0.02% Added +68.0k +67,960
100 PRUDENTIAL PLC 0.03% of their portfolio LONDON, X0 238,868238.9k $5.6m $5.6m 0.03% Added +21.9k +21,883