DEUTSCHE BANK A G DB
NAMEN AKT · Common Stock · CUSIP D18190898
- SectorFinancials
- IndustryState Commercial Banks
- HeadquartersNew York, NY
- FilingsSEC EDGAR
* 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 ($35.4m this quarter). Holder counts are more reliable. Shares outstanding: 1.9bn as of 2025-12-31, 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 ≈ $29.57. Options: 17 managers hold calls ($361.8m notional), 25 hold puts ($1.2bn).
Trends to Q1 2026
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 226 |
| Q4 2022 | 227 |
| Q1 2023 | 248 |
| Q2 2023 | 250 |
| Q3 2023 | 248 |
| Q4 2023 | 271 |
| Q1 2024 | 270 |
| Q2 2024 | 295 |
| Q3 2024 | 299 |
| Q4 2024 | 318 |
| Q1 2025 | 355 |
| Q2 2025 | 421 |
| Q3 2025 | 433 |
| Q4 2025 | 494 |
| Q1 2026 | 477 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q2 2024 | 173 | 100 |
| Q3 2024 | 144 | 124 |
| Q4 2024 | 166 | 100 |
| Q1 2025 | 205 | 118 |
| Q2 2025 | 259 | 132 |
| Q3 2025 | 241 | 199 |
| Q4 2025 | 262 | 170 |
| Q1 2026 | 211 | 261 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q2 2025 | $598.1m | $1.1bn | 1.84 |
| Q3 2025 | $780.6m | $1.6bn | 2.00 |
| Q4 2025 | $313.6m | $870.7m | 2.78 |
| Q1 2026 | $361.8m | $1.2bn | 3.33 |
Biggest buyers
| Capital World Investors | Added | +25.3m |
| CITIGROUP INC | Added | +15.3m |
| DEUTSCHE BANK AG\ | Added | +13.1m |
| CAUSEWAY CAPITAL MANAGEMENT LLC | Added | +10.8m |
| BANK OF AMERICA CORP /DE/ | Added | +9.7m |
| BNP PARIBAS ASSET MANAGEMENT Holding S.A. | Added | +9.2m |
| Amundi | Added | +6.1m |
| AQR CAPITAL MANAGEMENT LLC | Added | +5.6m |
| GOLDMAN SACHS GROUP INC | Added | +5.1m |
| TWO SIGMA INVESTMENTS, LP | Added | +4.5m |
Biggest sellers
| Capital International Investors | Reduced | -43.0m |
| ACADIAN ASSET MANAGEMENT LLC | Reduced | -14.6m |
| JANUS HENDERSON GROUP PLC | Reduced | -6.3m |
| FMR LLC | Reduced | -6.2m |
| Liontrust Investment Partners LLP | Sold out | -5.7m |
| MARSHALL WACE, LLP | Sold out | -5.5m |
| CREDIT AGRICOLE S A | Reduced | -5.4m |
| DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main | Reduced | -5.2m |
| Artemis Investment Management LLP | Sold out | -3.7m |
| Banco Santander, S.A. | Reduced | -3.5m |
Biggest calls
| UBS Group AG | Added | $100.9m3.4m shares |
| SIH Partners, LLLP | Added | $88.2m3.0m shares |
| HSBC HOLDINGS PLC | New | $73.0m2.5m shares |
| GOLDMAN SACHS GROUP INC | Added | $24.3m816.0k shares |
| MILLENNIUM MANAGEMENT LLC | Added | $16.1m634.0k shares |
| Qube Research & Technologies Ltd | New | $15.8m544.8k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $13.1m438.8k shares |
| CITIGROUP INC | Added | $13.0m438.4k shares |
| CITADEL ADVISORS LLC | Reduced | $5.3m178.6k shares |
| JANE STREET GROUP, LLC | Reduced | $3.4m113.5k shares |
Biggest puts
| SIH Partners, LLLP | Added | $448.1m15.0m shares |
| JPMORGAN CHASE & CO | Added | $168.6m5.9m shares |
| GOLDMAN SACHS GROUP INC | Added | $164.2m5.5m shares |
| UBS Group AG | Added | $147.3m4.9m shares |
| HSBC HOLDINGS PLC | New | $63.0m2.2m shares |
| Qube Research & Technologies Ltd | Added | $54.0m1.9m shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $36.9m1.2m shares |
| CITIGROUP INC | Added | $36.1m1.2m shares |
| Optiver Holding B.V. | Added | $27.3m915.6k shares |
| MILLENNIUM MANAGEMENT LLC | Added | $16.1m640.6k 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 2026
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 2026.
Holders, Q1 2026
| Manager | Shares | Change |
|---|---|---|
| DEUTSCHE BANK AG\ 0.69% of their portfolio | 69.9m $2.1bn | Added +13.1m |
| Amundi 0.49% of their portfolio | 60.1m $1.8bn | Added +6.1m |
| VANGUARD CAPITAL MANAGEMENT LLC 0.04% of their portfolio | 54.4m $1.6bn | First filing |
| UBS Group AG 0.17% of their portfolio | 31.8m $945.6m | Added +485.4k |
| Fisher Asset Management, LLC 0.29% of their portfolio | 28.4m $845.6m | Added +995.8k |
| Capital World Investors 0.10% of their portfolio | 25.3m $740.9m | Added +25.3m |
| CAUSEWAY CAPITAL MANAGEMENT LLC 8.88% of their portfolio | 25.0m $723.3m | Added +10.8m |
| Capital International Investors 0.16% of their portfolio | 23.5m $685.2m | Reduced -43.0m |
| GOLDMAN SACHS GROUP INC 0.09% of their portfolio | 21.8m $648.7m | Added +5.1m |
| BANK OF AMERICA CORP /DE/ 0.05% of their portfolio | 21.4m $637.9m | Added +9.7m |
| CITIGROUP INC 0.40% of their portfolio | 21.3m $630.3m | Added +15.3m |
| DekaBank Deutsche Girozentrale 0.99% of their portfolio | 18.7m $600.8m | Added +957.3k |
| VANGUARD FIDUCIARY TRUST CO 0.12% of their portfolio | 15.4m $458.4m | First filing |
| Legal & General Group Plc 0.10% of their portfolio | 14.5m $420.2m | Reduced -142.0k |
| AQR CAPITAL MANAGEMENT LLC 0.18% of their portfolio | 13.6m $394.5m | Added +5.6m |
| BNP PARIBAS ASSET MANAGEMENT Holding S.A. 0.45% of their portfolio | 13.3m $387.1m | Added +9.2m |
| ENTRUST GLOBAL PARTNERS L L C 77.36% of their portfolio | 12.1m $352.4m | Unchanged |
| JPMORGAN CHASE & CO 0.02% of their portfolio | 11.8m $334.5m | Added +4.5m |
| DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main 0.25% of their portfolio | 9.4m $271.9m | Reduced -5.2m |
| FRANKLIN RESOURCES INC 0.06% of their portfolio | 9.1m $264.7m | Added +188.3k |
| VANGUARD ASSET MANAGEMENT, Ltd 0.22% of their portfolio | 8.7m $258.8m | First filing |
| FMR LLC 0.01% of their portfolio | 6.4m $189.5m | Reduced -6.2m |
| MORGAN STANLEY 0.01% of their portfolio | 5.7m $168.6m | Added +966.0k |
| ACADIAN ASSET MANAGEMENT LLC 0.22% of their portfolio | 5.3m $153.0m | Reduced -14.6m |
| COMMERZBANK AKTIENGESELLSCHAFT /FI 2.91% of their portfolio | 4.7m $139.3m | Added +1.4m |
| TWO SIGMA INVESTMENTS, LP 0.11% of their portfolio | 4.6m $137.1m | Added +4.5m |
| Caisse de depot et placement du Quebec 0.21% of their portfolio | 4.4m $128.4m | Added +308.3k |
| Invesco Ltd. 0.01% of their portfolio | 4.2m $126.5m | Reduced -41.5k |
| Allianz Asset Management GmbH 0.14% of their portfolio | 4.1m $122.0m | Added +1.7m |
| Grantham, Mayo, Van Otterloo & Co. LLC 0.30% of their portfolio | 4.1m $118.7m | Added +278.5k |
| Russell Investments Group, Ltd. 0.11% of their portfolio | 3.4m $98.2m | Added +272.2k |
| CANADA PENSION PLAN INVESTMENT BOARD 0.06% of their portfolio | 3.4m $98.3m | Added +516.0k |
| Nuveen, LLC 0.03% of their portfolio | 3.4m $97.0m | Reduced -149.9k |
| Bank of New York Mellon Corp 0.02% of their portfolio | 3.0m $88.3m | Reduced -177.1k |
| NIPPON LIFE INSURANCE CO 1.64% of their portfolio | 2.9m $83.5m | New |
| NORTHERN TRUST CORP 0.01% of their portfolio | 2.3m $69.2m | Added +239.3k |
| ROYAL BANK OF CANADA 0.01% of their portfolio | 2.2m $66.4m | Added +379.5k |
| Pictet Asset Management Holding SA 0.07% of their portfolio | 2.2m $63.9m | Added +630.9k |
| LAZARD ASSET MANAGEMENT LLC 0.10% of their portfolio | 2.1m $62.3m | Added +410.2k |
| BlackRock, Inc. 0.00% of their portfolio | 2.1m $63.2m | Added +135.3k |
| AVIVA PLC 0.10% of their portfolio | 2.1m $60.2m | Reduced -11.0k |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.05% of their portfolio | 2.0m $57.8m | Reduced -773.4k |
| INTECH INVESTMENT MANAGEMENT LLC 0.53% of their portfolio | 1.9m $54.0m | Added +886.2k |
| SEB Asset Management AB 0.23% of their portfolio | 1.8m $52.9m | First filing |
| BNP PARIBAS FINANCIAL MARKETS 0.03% of their portfolio | 1.7m $51.7m | Added +1.5m |
| MILLENNIUM MANAGEMENT LLC 0.04% of their portfolio | 1.7m $51.7m | Added +583.0k |
| Qube Research & Technologies Ltd 0.07% of their portfolio | 1.7m $51.5m | Added +1.5m |
| SIH Partners, LLLP 1.55% of their portfolio | 1.7m $50.2m | Added +1.4m |
| Capital International, Inc./CA/ 0.37% of their portfolio | 1.6m $48.2m | Reduced -1.4m |
| Zurcher Kantonalbank (Zurich Cantonalbank) 0.10% of their portfolio | 1.6m $47.6m | Added +11.7k |
| Public Sector Pension Investment Board 0.14% of their portfolio | 1.5m $44.2m | Added +21.2k |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP 0.02% of their portfolio | 1.5m $42.6m | New |
| Munich Reinsurance Co Stock Corp in Munich 0.97% of their portfolio | 1.4m $39.4m | New |
| Point72 Asset Management, L.P. 0.07% of their portfolio | 1.4m $40.4m | Added +557.5k |
| CAPITAL INTERNATIONAL SARL 0.64% of their portfolio | 1.3m $38.9m | Reduced -226.8k |
| EDMOND DE ROTHSCHILD HOLDING S.A. 0.54% of their portfolio | 1.3m $37.7m | Added +74.7k |
| AMERICAN CENTURY COMPANIES INC 0.02% of their portfolio | 1.3m $38.1m | Added +150.3k |
| JANE STREET GROUP, LLC 0.04% of their portfolio | 1.1m $33.7m | Reduced -685.3k |
| WORLDQUANT MILLENNIUM ADVISORS LLC 0.12% of their portfolio | 1.0m $29.9m | Added +699.2k |
| PUBLIC EMPLOYEES RETIREMENT SYSTEM OF OHIO 0.10% of their portfolio | 1.0m $30.2m | Reduced -166.5k |
| VOLORIDGE INVESTMENT MANAGEMENT, LLC 0.12% of their portfolio | 1.0m $29.9m | New |
| ENVESTNET ASSET MANAGEMENT INC 0.01% of their portfolio | 997.0k $29.7m | Added +139.5k |
| Vanguard Global Advisers, LLC 0.02% of their portfolio | 988.9k $29.4m | First filing |
| BANK OF MONTREAL /CAN/ 0.01% of their portfolio | 982.8k $28.5m | Reduced -83.5k |
| Korea Investment CORP 0.06% of their portfolio | 968.4k $28.0m | Reduced -848.1k |
| Vanguard Investments Australia, Ltd. 0.08% of their portfolio | 905.7k $27.0m | First filing |
| CITADEL ADVISORS LLC 0.02% of their portfolio | 887.7k $26.4m | Added +239.1k |
| WELLS FARGO & COMPANY/MN 0.00% of their portfolio | 838.1k $25.0m | Reduced -278.1k |
| Lansforsakringar Fondforvaltning AB (publ) 0.12% of their portfolio | 760.5k $22.0m | Added +21.5k |
| TD Asset Management Inc 0.02% of their portfolio | 730.1k $21.2m | Added +68.7k |
| Gemsstock Ltd. 2.18% of their portfolio | 711.8k $20.7m | New |
| MACKENZIE FINANCIAL CORP 0.02% of their portfolio | 700.8k $20.3m | Added +406.7k |
| Vontobel Holding Ltd. 0.07% of their portfolio | 690.8k $20.1m | Added +343.1k |
| CAPITAL INTERNATIONAL LTD /CA/ 0.74% of their portfolio | 685.3k $20.0m | Reduced -106.1k |
| FEDERATED HERMES, INC. 0.03% of their portfolio | 676.3k $19.8m | Added +582.5k |
| JANUS HENDERSON GROUP PLC 0.01% of their portfolio | 676.2k $19.5m | Reduced -6.3m |
| STATE OF WISCONSIN INVESTMENT BOARD 0.04% of their portfolio | 668.2k $19.3m | Reduced -99.3k |
| ALLIANCEBERNSTEIN L.P. 0.01% of their portfolio | 664.3k $25.6m | Reduced -605 |
| Intesa Sanpaolo S.p.A. 1.19% of their portfolio | 651.4k $19.0m | Added +152.5k |
| RAYMOND JAMES FINANCIAL INC 0.01% of their portfolio | 630.9k $18.8m | Reduced -114.3k |
| MUTUAL OF AMERICA CAPITAL MANAGEMENT LLC 0.20% of their portfolio | 615.8k $17.9m | Reduced -99.8k |
| Quantinno Capital Management LP 0.03% of their portfolio | 597.2k $17.8m | Added +6.8k |
| CREDIT AGRICOLE S A 0.06% of their portfolio | 589.9k $17.6m | Reduced -5.4m |
| Compagnie Lombard Odier SCmA 0.21% of their portfolio | 585.3k $16.9m | Reduced -44.1k |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.02% of their portfolio | 584.8k $17.4m | Added +550.9k |
| ASR Vermogensbeheer N.V. 0.20% of their portfolio | 584.6k $16.9m | Added +152.7k |
| Groupe la Francaise 0.23% of their portfolio | 569.1k $16.4m | Reduced -722.5k |
| LANDESBANK BADEN-WUERTTEMBERG 3.17% of their portfolio | 539.1k $15.5m | Added +39.5k |
| Banco Santander, S.A. 0.13% of their portfolio | 524.6k $15.6m | Reduced -3.5m |
| O'SHAUGHNESSY ASSET MANAGEMENT, LLC 0.07% of their portfolio | 484.8k $14.4m | Reduced -90.2k |
| Martin Investment Management, LLC 4.24% of their portfolio | 475.8k $14.2m | Reduced -50.2k |
| M&G PLC 0.07% of their portfolio | 445.1k $12.9m | Added +427.2k |
| OSSIAM 0.21% of their portfolio | 421.8k $12.2m | Added +170.9k |
| Ilex Capital Partners (UK) LLP 0.29% of their portfolio | 411.4k $11.9m | New |
| Westend Capital Management, LLC 3.32% of their portfolio | 371.0k $11.0m | Added +10.3k |
| Generali Asset Management SPA SGR 0.19% of their portfolio | 368.8k $9.3m | Reduced -32.2k |
| WELLINGTON MANAGEMENT GROUP LLP 0.00% of their portfolio | 363.9k $10.5m | Reduced -848 |
| ROYAL LONDON ASSET MANAGEMENT LTD 0.02% of their portfolio | 362.1k $10.8m | Reduced -10.4k |
| CAPITAL FUND MANAGEMENT S.A. 0.09% of their portfolio | 341.3k $10.2m | Added +275.9k |
| Assenagon Asset Management S.A. 0.02% of their portfolio | 336.5k $9.7m | Added +115.6k |