Vault-13

DEUTSCHE BANK A G DB

NAMEN AKT · Common Stock · CUSIP D18190898

421 institutional holders +66 vs Q1 2025
658,738,463658.7m shares reported held*
$19.4bnreported value*
97 new 162 added 101 reduced 31 sold out net bought ≈ $1.2bn (+41.2m 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 ($7.8m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $29.45. Options: 17 managers hold calls ($598.1m notional), 28 hold puts ($1.1bn).

Trends to Q2 2025

Institutional holders

Managers reporting a position, each quarter

0200400600Q3 22: 226Q4 22: 227Q1 23: 248Q2 23: 250Q3 23: 248Q4 23: 271Q1 24: 270Q2 24: 295Q3 24: 299Q4 24: 318Q1 25: 355Q2 25: 421421Q3 22Q2 23Q1 24Q4 24Q2 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
Q2 2025421

Buyers vs sellers

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

Bought or addedCut or sold out
4000400Q3 23: 109 bought or addedQ3 23: 112 cut or sold outQ4 23: 150 bought or addedQ4 23: 81 cut or sold outQ4 23Q1 24: 133 bought or addedQ1 24: 107 cut or sold outQ2 24: 173 bought or addedQ2 24: 100 cut or sold outQ2 24Q3 24: 144 bought or addedQ3 24: 124 cut or sold outQ4 24: 166 bought or addedQ4 24: 100 cut or sold outQ4 24Q1 25: 205 bought or addedQ1 25: 118 cut or sold outQ2 25: 259 bought or addedQ2 25: 132 cut or sold outQ2 25
Numbers
QuarterBought or addedCut or sold out
Q3 2023109112
Q4 202315081
Q1 2024133107
Q2 2024173100
Q3 2024144124
Q4 2024166100
Q1 2025205118
Q2 2025259132

Calls vs puts

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

CallsPuts
$0$500m$1bn$1.5bnQ3 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 2.28Q2 25 calls: $598.1mQ2 25 puts: $1.1bnQ2 25P/C 1.84
Numbers
QuarterCallsPutsP/C
Q3 2024$323.7m$591.0m1.83
Q4 2024$177.5m$487.1m2.74
Q1 2025$465.0m$1.1bn2.28
Q2 2025$598.1m$1.1bn1.84

Biggest buyers

CAUSEWAY CAPITAL MANAGEMENT LLC Added +17,801,643+17.8m
DEUTSCHE BANK AG\ Added +16,483,503+16.5m
JANUS HENDERSON GROUP PLC Added +7,966,401+8.0m
Fisher Asset Management, LLC Added +6,605,750+6.6m
Amundi Added +5,403,011+5.4m
Liontrust Investment Partners LLP New +4,986,080+5.0m
ACADIAN ASSET MANAGEMENT LLC Added +4,674,860+4.7m
JPMORGAN CHASE & CO Added +3,306,628+3.3m
Nuveen, LLC Added +2,687,197+2.7m
UBS Group AG Added +2,650,822+2.7m

Biggest sellers

VIKING GLOBAL INVESTORS LP Sold out -15,106,082-15.1m
ARROWSTREET CAPITAL, LIMITED PARTNERSHIP Reduced -10,951,400-11.0m
NORGES BANK Reduced -9,508,248-9.5m
Capital International Investors Reduced -9,397,919-9.4m
Capital International, Inc./CA/ Reduced -3,521,363-3.5m
FRANKLIN RESOURCES INC Reduced -1,699,068-1.7m
Invesco Ltd. Reduced -1,311,789-1.3m
MARSHALL WACE, LLP Reduced -1,258,477-1.3m
Marex Group Ltd Sold out -1,213,547-1.2m
COMMERZBANK AKTIENGESELLSCHAFT /FI Reduced -1,130,302-1.1m

Biggest calls

HSBC HOLDINGS PLC Added $122.4m4.2m shares
Rokos Capital Management LLP New $120.4m4.1m shares
SIH Partners, LLLP Reduced $100.8m3.4m shares
UBS Group AG Added $96.7m3.3m shares
GOLDMAN SACHS GROUP INC Added $88.6m3.0m shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $18.7m639.1k shares
PEAK6 LLC Added $9.9m337.4k shares
CITIGROUP INC Reduced $7.6m260.0k shares
JANE STREET GROUP, LLC Added $7.4m254.0k shares
WOLVERINE TRADING, LLC Added $5.9m195.3k shares

Biggest puts

SIH Partners, LLLP Reduced $239.4m8.2m shares
GOLDMAN SACHS GROUP INC Added $163.6m5.6m shares
UBS Group AG Reduced $156.9m5.4m shares
BANK OF AMERICA CORP /DE/ Reduced $154.7m5.3m shares
JPMORGAN CHASE & CO Reduced $149.3m5.1m shares
HSBC HOLDINGS PLC Unchanged $65.1m2.2m shares
Qube Research & Technologies Ltd Added $33.2m1.1m shares
Optiver Holding B.V. Reduced $24.6m838.5k shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $21.8m744.3k shares
CITIGROUP INC Added $21.2m727.8k 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 Q2 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 Q2 2025.

Holders, Q2 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 Capital International Investors 0.44% of their portfolio Los Angeles, CA 86,625,39786.6m $2.6bn $2.6bn 0.44% Reduced -9.4m -9,397,919
2 VANGUARD GROUP INC 0.04% of their portfolio Valley Forge, PA 79,549,60779.5m $2.4bn $2.4bn 0.04% Added +144.8k +144,786
3 DEUTSCHE BANK AG\ 0.69% of their portfolio FRANKFURT AM MAIN, 2M 64,146,43164.1m $1.9bn $1.9bn 0.69% Added +16.5m +16,483,503
4 Amundi 0.41% of their portfolio Paris, I0 40,664,51940.7m $1.2bn $1.2bn 0.41% Added +5.4m +5,403,011
5 UBS Group AG 0.20% of their portfolio ZURICH, V8 32,027,20332.0m $937.8m $937.8m 0.20% Added +2.7m +2,650,822
6 Fisher Asset Management, LLC 0.30% of their portfolio PLANO, TX 25,471,40125.5m $745.8m $745.8m 0.30% Added +6.6m +6,605,750
7 NORGES BANK 0.09% of their portfolio OSLO, Q8 24,259,68324.3m $719.4m $719.4m 0.09% Reduced -9.5m -9,508,248
8 GQG Partners LLC 0.93% of their portfolio FT. LAUDERDALE, FL 22,084,25422.1m $652.5m $652.5m 0.93% Added +2.1m +2,113,309
9 CAUSEWAY CAPITAL MANAGEMENT LLC 9.03% of their portfolio LOS ANGELES, CA 19,315,14319.3m $570.4m $570.4m 9.03% Added +17.8m +17,801,643
10 DekaBank Deutsche Girozentrale 0.95% of their portfolio FRANKFURT, 2M 18,047,60518.0m $530.5m $530.5m 0.95% Added +2.2m +2,219,444
11 Legal & General Group Plc 0.11% of their portfolio London, X0 15,203,63115.2m $449.4m $449.4m 0.11% Reduced -263.1k -263,119
12 ENTRUST GLOBAL PARTNERS L L C 80.63% of their portfolio New York, NY 14,724,24214.7m $436.4m $436.4m 80.63% Reduced -774.9k -774,935
13 DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main 0.40% of their portfolio FRANKFURT AM MAIN, 2M 13,209,49113.2m $390.2m $390.2m 0.40% Added +794.7k +794,674
14 FRANKLIN RESOURCES INC 0.09% of their portfolio San Mateo, CA 11,936,83311.9m $354.0m $354.0m 0.09% Reduced -1.7m -1,699,068
15 JPMORGAN CHASE & CO 0.02% of their portfolio NEW YORK, NY 11,215,49711.2m $328.4m $328.4m 0.02% Added +3.3m +3,306,628
16 FMR LLC 0.02% of their portfolio BOSTON, MA 11,166,24211.2m $331.1m $331.1m 0.02% Added +1.5m +1,542,650
17 BANK OF AMERICA CORP /DE/ 0.02% of their portfolio CHARLOTTE, NC 10,589,00710.6m $310.0m $310.0m 0.02% Added +703.2k +703,241
18 GOLDMAN SACHS GROUP INC 0.05% of their portfolio NEW YORK, NY 10,255,31710.3m $300.3m $300.3m 0.05% Added +2.5m +2,487,992
19 JANUS HENDERSON GROUP PLC 0.14% of their portfolio LONDON, X0 9,954,94810.0m $294.1m $294.1m 0.14% Added +8.0m +7,966,401
20 ACADIAN ASSET MANAGEMENT LLC 0.60% of their portfolio Boston, MA 9,837,0479.8m $290.6m $290.6m 0.60% Added +4.7m +4,674,860
21 Capital International, Inc./CA/ 1.61% of their portfolio Los Angeles, CA 5,585,9615.6m $165.6m $165.6m 1.61% Reduced -3.5m -3,521,363
22 Liontrust Investment Partners LLP 2.11% of their portfolio LONDON, X0 4,986,0805.0m $147.3m $147.3m 2.11% New
23 Grantham, Mayo, Van Otterloo & Co. LLC 0.44% of their portfolio Boston, MA 4,945,2654.9m $146.1m $146.1m 0.44% Reduced -766.8k -766,754
24 MORGAN STANLEY 0.01% of their portfolio NEW YORK, NY 4,715,6234.7m $138.1m $138.1m 0.01% Added +723.6k +723,575
25 Capital World Investors 0.02% of their portfolio LOS ANGELES, CA 4,390,1694.4m $130.2m $130.2m 0.02% Added +29.5k +29,498
26 APPALOOSA LP 1.82% of their portfolio Short Hills, NJ 4,000,0004.0m $117.1m $117.1m 1.82% Added +250.0k +250,000
27 ROYAL BANK OF CANADA 0.01% of their portfolio TORONTO, A6 3,872,8323.9m $113.4m $113.4m 0.01% Added +2.5m +2,533,403
28 WELLINGTON MANAGEMENT GROUP LLP 0.02% of their portfolio Boston, MA 3,799,6843.8m $112.3m $112.3m 0.02% Added +1.8m +1,804,426
29 Nuveen, LLC 0.03% of their portfolio CHARLOTTE, NC 3,507,1523.5m $103.6m $103.6m 0.03% Added +2.7m +2,687,197
30 Bank of New York Mellon Corp 0.02% of their portfolio NEW YORK, NY 3,212,4803.2m $94.1m $94.1m 0.02% Added +113.2k +113,218
31 CITIGROUP INC 0.06% of their portfolio NEW YORK, NY 3,189,6343.2m $93.0m $93.0m 0.06% Reduced -1.0m -1,007,211
32 Russell Investments Group, Ltd. 0.11% of their portfolio Seattle, WA 2,991,7983.0m $88.6m $88.6m 0.11% Reduced -281.1k -281,059
33 Korea Investment CORP 0.20% of their portfolio SEOUL, M5 2,984,4533.0m $88.2m $88.2m 0.20% Added +878.3k +878,258
34 Invesco Ltd. 0.01% of their portfolio ATLANTA, GA 2,853,6252.9m $83.6m $83.6m 0.01% Reduced -1.3m -1,311,789
35 Allianz Asset Management GmbH 0.10% of their portfolio MUNICH, 2M 2,631,5912.6m $76.7m $76.7m 0.10% Added +1.4m +1,376,552
36 Capital Group Private Client Services, Inc. 0.60% of their portfolio Los Angeles, CA 2,347,6312.3m $69.6m $69.6m 0.60% Reduced -173.1k -173,112
37 Artemis Investment Management LLP 0.84% of their portfolio EDINBURGH, X0 2,211,0232.2m $65.6m $65.6m 0.84% New
38 AVIVA PLC 0.13% of their portfolio LONDON, X0 2,163,2592.2m $64.1m $64.1m 0.13% Reduced -496.4k -496,360
39 NORTHERN TRUST CORP 0.01% of their portfolio CHICAGO, IL 2,095,9712.1m $61.4m $61.4m 0.01% Added +591.8k +591,796
40 MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.05% of their portfolio Toronto, A6 1,888,5391.9m $55.7m $55.7m 0.05% Added +1.1m +1,072,080
41 BlackRock, Inc. 0.00% of their portfolio New York, NY 1,814,4261.8m $53.1m $53.1m 0.00% Added +252.6k +252,566
42 CANADA PENSION PLAN INVESTMENT BOARD 0.04% of their portfolio TORONTO ONTARIO, A6 1,748,5381.7m $51.9m $51.9m 0.04% Reduced -322.7k -322,668
43 ARROWSTREET CAPITAL, LIMITED PARTNERSHIP 0.04% of their portfolio BOSTON, MA 1,734,1361.7m $51.4m $51.4m 0.04% Reduced -11.0m -10,951,400
44 MOORE CAPITAL MANAGEMENT, LP 1.02% of their portfolio NEW YORK, NY 1,718,3501.7m $50.9m $50.9m 1.02% New
45 Zurcher Kantonalbank (Zurich Cantonalbank) 0.12% of their portfolio ZURICH, V8 1,676,8101.7m $49.5m $49.5m 0.12% Added +38.9k +38,913
46 UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.01% of their portfolio NEW YORK, NY 1,583,4281.6m $46.4m $46.4m 0.01% Reduced -904.6k -904,593
47 MEAG MUNICH ERGO, Kapitalanlagegesellschaft mbH 1.25% of their portfolio Munich, 2M 1,503,1051.5m $44.4m $44.4m 1.25% Reduced -322.4k -322,450
48 Public Sector Pension Investment Board 0.19% of their portfolio MONTREAL, A8 1,488,3051.5m $44.0m $44.0m 0.19% Reduced -6.7k -6,693
49 CAPITAL INTERNATIONAL SARL 0.84% of their portfolio Los Angeles, CA 1,471,7021.5m $43.5m $43.5m 0.84% Reduced -78.9k -78,857
50 HSBC HOLDINGS PLC 0.03% of their portfolio LONDON, X0 1,343,5671.3m $39.7m $39.7m 0.03% Added +108.3k +108,329
51 Pictet Asset Management Holding SA 0.04% of their portfolio CAROUGE, V8 1,321,1881.3m $39.0m $39.0m 0.04% Reduced -224.2k -224,188
52 Sienna Gestion 2.37% of their portfolio PARIS, I0 1,275,5371.3m $34.4m $34.4m 2.37% New
53 MARSHALL WACE, LLP 0.04% of their portfolio LONDON, X0 1,256,0481.3m $37.1m $37.1m 0.04% Reduced -1.3m -1,258,477
54 PUBLIC EMPLOYEES RETIREMENT SYSTEM OF OHIO 0.11% of their portfolio COLUMBUS, OH 1,109,8921.1m $32.3m $32.3m 0.11% Reduced -264.7k -264,710
55 MILLENNIUM MANAGEMENT LLC 0.03% of their portfolio NEW YORK, NY 1,103,8351.1m $32.3m $32.3m 0.03% Added +193.1k +193,136
56 Gemsstock Ltd. 5.43% of their portfolio London, X0 1,026,7531.0m $30.4m $30.4m 5.43% Added +556.7k +556,703
57 THIRD AVENUE MANAGEMENT LLC 6.22% of their portfolio NEW YORK, NY 1,021,5581.0m $30.2m $30.2m 6.22% Reduced -426.0k -426,012
58 AMERICAN CENTURY COMPANIES INC 0.02% of their portfolio KANSAS CITY, MO 1,013,4931.0m $29.7m $29.7m 0.02% Added +83.4k +83,358
59 BANK OF MONTREAL /CAN/ 0.02% of their portfolio TORONTO, A6 1,005,7451.0m $29.8m $29.8m 0.02% Added +69.3k +69,305
60 JANE STREET GROUP, LLC 0.05% of their portfolio NEW YORK, NY 998,841998.8k $29.2m $29.2m 0.05% Added +620.3k +620,309
61 WELLS FARGO & COMPANY/MN 0.01% of their portfolio SAN FRANCISCO, CA 998,652998.7k $29.2m $29.2m 0.01% Reduced -85.5k -85,454
62 ENVESTNET ASSET MANAGEMENT INC 0.01% of their portfolio Berwyn, PA 983,772983.8k $28.8m $28.8m 0.01% Added +274.6k +274,561
63 CAPITAL INTERNATIONAL LTD /CA/ 0.93% of their portfolio LOS ANGELES, CA 820,293820.3k $24.3m $24.3m 0.93% Reduced -72.5k -72,500
64 MUTUAL OF AMERICA CAPITAL MANAGEMENT LLC 0.26% of their portfolio New York, NY 804,991805.0k $23.9m $23.9m 0.26% Unchanged
65 RAYMOND JAMES FINANCIAL INC 0.01% of their portfolio ST. PETERSBURG, FL 742,823742.8k $21.7m $21.7m 0.01% Added +223.9k +223,882
66 Lansforsakringar Fondforvaltning AB (publ) 0.12% of their portfolio Stockholm, V7 710,204710.2k $21.0m $21.0m 0.12% Added +21.7k +21,706
67 TD Asset Management Inc 0.02% of their portfolio Toronto, A6 625,928625.9k $18.5m $18.5m 0.02% Added +6.4k +6,387
68 O'SHAUGHNESSY ASSET MANAGEMENT, LLC 0.12% of their portfolio Stamford, CT 624,120624.1k $18.3m $18.3m 0.12% Reduced -5.6k -5,553
69 SUSQUEHANNA ADVISORS GROUP, INC. 0.72% of their portfolio BALA CYNWYD, PA 617,100617.1k $18.1m $18.1m 0.72% Added +258.4k +258,416
70 Compagnie Lombard Odier SCmA 0.24% of their portfolio 1204 GENEVA, V8 611,636611.6k $18.1m $18.1m 0.24% Added +76.5k +76,487
71 Groupe la Francaise 0.28% of their portfolio PARIS, I0 581,751581.8k $17.2m $17.2m 0.28% Reduced -26.6k -26,645
72 FIRST TRUST ADVISORS LP 0.01% of their portfolio Wheaton, IL 528,327528.3k $15.6m $15.6m 0.01% Added +102.8k +102,754
73 COMMERZBANK AKTIENGESELLSCHAFT /FI 0.31% of their portfolio FRANKFURT, 2M 463,744463.7k $13.6m $13.6m 0.31% Reduced -1.1m -1,130,302
74 Vontobel Holding Ltd. 0.05% of their portfolio ZURICH, V8 463,115463.1k $13.7m $13.7m 0.05% Reduced -2.2k -2,151
75 NATIXIS ADVISORS, LLC 0.02% of their portfolio Boston, MA 459,275459.3k $13.4m $13.4m 0.02% Added +63.8k +63,780
76 SIH Partners, LLLP 1.25% of their portfolio Wilmington, DE 448,956449.0k $13.1m $13.1m 1.25% Reduced -293.4k -293,407
77 AXA S.A. 0.04% of their portfolio PARIS, I0 432,471432.5k $12.7m $12.7m 0.04% Added +147.9k +147,938
78 ROYAL LONDON ASSET MANAGEMENT LTD 0.03% of their portfolio UNITED KINGDOM, X0 417,828417.8k $12.2m $12.2m 0.03% Reduced -33.6k -33,605
79 Baader Bank Aktiengesellschaft 1.04% of their portfolio Unterschleissheim, 2M 412,329412.3k $12.1m $12.1m 1.04% Reduced -64.3k -64,261
80 Quantinno Capital Management LP 0.05% of their portfolio NEW YORK, NY 405,978406.0k $11.9m $11.9m 0.05% Added +54.0k +54,031
81 BNP PARIBAS FINANCIAL MARKETS 0.01% of their portfolio PARIS, I0 400,700400.7k $11.7m $11.7m 0.01% Added +317.7k +317,747
82 Jefferies Financial Group Inc. 0.19% of their portfolio NEW YORK, NY 397,369397.4k $11.8m $11.8m 0.19% Added +299.6k +299,582
83 Thrivent Financial for Lutherans 0.03% of their portfolio Minneapolis, MN 392,218392.2k $11.6m $11.6m 0.03% New
84 CITADEL ADVISORS LLC 0.01% of their portfolio MIAMI, FL 379,096379.1k $11.1m $11.1m 0.01% Added +204.5k +204,489
85 ALLIANCEBERNSTEIN L.P. 0.00% of their portfolio NASHVILLE, TN 359,971360.0k $10.5m $10.5m 0.00% Added +38.2k +38,187
86 Twin Tree Management, LP 0.26% of their portfolio DALLAS, TX 356,812356.8k $10.4m $10.4m 0.26% Added +277.9k +277,914
87 Westend Capital Management, LLC 3.16% of their portfolio SAUSALITO, CA 350,797350.8k $10.3m $10.3m 3.16% New
88 PRUDENTIAL PLC 0.06% of their portfolio LONDON, X0 343,238343.2k $10.2m $10.2m 0.06% Added +104.4k +104,370
89 Optiver Holding B.V. 0.27% of their portfolio AMSTERDAM, P7 342,471342.5k $10.0m $10.0m 0.27% New
90 ASR Vermogensbeheer N.V. 0.13% of their portfolio UTRECHT, P7 342,122342.1k $10.1m $10.1m 0.13% Added +3.5k +3,524
91 NATIONAL BANK OF CANADA /FI/ 0.01% of their portfolio MONTREAL, A8 320,704320.7k $11.9m $11.9m 0.01% Added +48.3k +48,316
92 MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. 0.02% of their portfolio CAUSEWAY BAY, K3 317,895317.9k $9.4m $9.4m 0.02% Added +92.0k +92,023
93 Mitsubishi UFJ Trust & Banking Corp 0.02% of their portfolio TOKYO, M0 303,114303.1k $8.7m $8.7m 0.02% Reduced -82.8k -82,833
94 Rockefeller Capital Management L.P. 0.01% of their portfolio NEW YORK, NY 296,448296.4k $8.7m $8.7m 0.01% Reduced -222.0k -222,022
95 FORSTA AP-FONDEN 0.00% of their portfolio STOCKHOLM, V7 285,845285.8k $0 $0 0.00% Added +38.6k +38,584
96 VOYA INVESTMENT MANAGEMENT LLC 0.01% of their portfolio ATLANTA, GA 285,844285.8k $8.4m $8.4m 0.01% Reduced -295.5k -295,486
97 USS Investment Management Ltd 0.05% of their portfolio London, X0 285,171285.2k $8.4m $8.4m 0.05% Unchanged
98 Fiera Capital Corp 0.03% of their portfolio MONTREAL, A8 278,573278.6k $8.2m $8.2m 0.03% Added +34.3k +34,283
99 QRG CAPITAL MANAGEMENT, INC. 0.07% of their portfolio BERWYN, PA 277,714277.7k $8.1m $8.1m 0.07% Added +21.5k +21,465
100 ASSETMARK, INC 0.02% of their portfolio CONCORD, CA 273,341273.3k $8.0m $8.0m 0.02% Added +26.9k +26,911