% of shares outstanding not shown: this line files 20-F annual reports only — a foreign private issuer whose US listing trades as ADSs (depositary receipts), while its cover-page share count is in ORDINARY shares. The depositary ratio is not in our data. The count we hold for this line is 1,902,873,264 shares (as of 2025-12-31, source dei). Dividing one by the other is wrong by the whole ratio (a 5:1 ADR reads one fifth of the true percentage), so the percentage is withheld rather than served wrong. Holder share counts are shown as filed.
Crowding percentile withheld — no market cap for DB in the served universe — the cohort is size-matched, and an unmatched percentile would compare a micro-cap register to a mega-cap one.
| # | Holder | Shares | Value | % of shares out | Δ QoQ |
|---|---|---|---|---|---|
| 1 | DEUTSCHE BANK AG\ | 69,876,56669.9M | $2.1B | — | ADD 23% |
| 2 | Amundi | 60,059,70760.1M | $1.8B | — | ADD 11% |
| 3 | VANGUARD CAPITAL MANAGEMENT LLC | 54,440,38454.4M | $1.6B | — | NEW† |
| 4 | UBS Group AG | 31,753,58531.8M | $946M | — | — |
| 5 | Fisher Asset Management, LLC | 28,394,49228.4M | $846M | — | ADD 4% |
| 6 | Capital World Investors | 25,318,21125.3M | $741M | — | ADD 130037% |
| 7 | CAUSEWAY CAPITAL MANAGEMENT LLC | 24,962,03425.0M | $723M | — | ADD 76% |
| 8 | Capital International Investors | 23,548,84523.5M | $685M | — | TRIM -65% |
| 9 | GOLDMAN SACHS GROUP INC | 21,783,24321.8M | $649M | — | ADD 30% |
| 10 | BANK OF AMERICA CORP /DE/ | 21,420,17121.4M | $638M | — | ADD 83% |
| 11 | CITIGROUP INC | 21,301,83221.3M | $630M | — | ADD 257% |
| 12 | DekaBank Deutsche Girozentrale | 18,743,90618.7M | $601M | — | ADD 5% |
| 13 | VANGUARD FIDUCIARY TRUST CO | 15,402,46615.4M | $458M | — | NEW |
| 14 | Legal & General Group Plc | 14,522,58414.5M | $420M | — | — |
| 15 | AQR CAPITAL MANAGEMENT LLC | 13,582,91313.6M | $394M | — | ADD 70% |
| 16 | BNP PARIBAS ASSET MANAGEMENT Holding S.A. | 13,337,77613.3M | $387M | — | ADD 226% |
| 17 | ENTRUST GLOBAL PARTNERS L L C | 12,145,57312.1M | $352M | — | — |
| 18 | JPMORGAN CHASE & CO | 11,780,75511.8M | $334M | — | ADD 62% |
| 19 | DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main | 9,413,5379.4M | $272M | — | TRIM -36% |
| 20 | FRANKLIN RESOURCES INC | 9,121,3959.1M | $265M | — | ADD 2% |
| 21 | VANGUARD ASSET MANAGEMENT, Ltd | 8,697,5708.7M | $259M | — | NEW |
| 22 | FMR LLC | 6,367,4446.4M | $189M | — | TRIM -49% |
| 23 | Liontrust Investment Partners LLP | 6,133,1026.1M | $177M | — | ADD 8% |
| 24 | MORGAN STANLEY | 5,659,9865.7M | $169M | — | ADD 21% |
| 25 | ACADIAN ASSET MANAGEMENT LLC | 5,286,5885.3M | $153M | — | TRIM -73% |
| 26 | COMMERZBANK AKTIENGESELLSCHAFT /FI | 4,678,5834.7M | $139M | — | ADD 44% |
| 27 | TWO SIGMA INVESTMENTS, LP | 4,603,8364.6M | $137M | — | ADD 6944% |
| 28 | Caisse de depot et placement du Quebec | 4,436,7734.4M | $128M | — | ADD 7% |
| 29 | Invesco Ltd. | 4,248,2764.2M | $127M | — | — |
| 30 | Allianz Asset Management GmbH | 4,111,6714.1M | $122M | — | ADD 67% |
| 31 | Grantham, Mayo, Van Otterloo & Co. LLC | 4,101,1654.1M | $119M | — | ADD 7% |
| 32 | CANADA PENSION PLAN INVESTMENT BOARD | 3,387,0493.4M | $98M | — | ADD 18% |
| 33 | Russell Investments Group, Ltd. | 3,394,5123.4M | $98M | — | ADD 9% |
| 34 | Nuveen, LLC | 3,353,3123.4M | $97M | — | TRIM -4% |
| 35 | Bank of New York Mellon Corp | 2,965,8843.0M | $88M | — | TRIM -6% |
| 36 | NIPPON LIFE INSURANCE CO | 2,898,5202.9M | $84M | — | NEW |
| 37 | NORTHERN TRUST CORP | 2,322,5052.3M | $69M | — | ADD 11% |
| 38 | ROYAL BANK OF CANADA | 2,228,7262.2M | $66M | — | ADD 21% |
| 39 | Pictet Asset Management Holding SA | 2,209,8462.2M | $64M | — | ADD 40% |
| 40 | BlackRock, Inc. | 2,123,4192.1M | $63M | — | ADD 7% |
| 41 | LAZARD ASSET MANAGEMENT LLC | 2,148,0452.1M | $62M | — | ADD 24% |
| 42 | AVIVA PLC | 2,081,0012.1M | $60M | — | — |
| 43 | MANUFACTURERS LIFE INSURANCE COMPANY, THE | 2,006,5082.0M | $58M | — | TRIM -28% |
| 44 | INTECH INVESTMENT MANAGEMENT LLC | 1,867,2081.9M | $54M | — | ADD 90% |
| 45 | SEB Asset Management AB | 1,829,1531.8M | $53M | — | NEW |
| 46 | BNP PARIBAS FINANCIAL MARKETS | 1,737,5501.7M | $52M | — | ADD 556% |
| 47 | MILLENNIUM MANAGEMENT LLC | 1,736,1201.7M | $52M | — | ADD 51% |
| 48 | Qube Research & Technologies Ltd | 1,733,3071.7M | $52M | — | ADD 733% |
| 49 | SIH Partners, LLLP | 1,686,5371.7M | $50M | — | ADD 471% |
| 50 | Capital International, Inc./CA/ | 1,647,1241.6M | $48M | — | TRIM -47% |
| 51 | Zurcher Kantonalbank (Zurich Cantonalbank) | 1,643,8031.6M | $48M | — | — |
| 52 | Public Sector Pension Investment Board | 1,453,4421.5M | $44M | — | — |
| 53 | ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | 1,452,8281.5M | $43M | — | NEW |
| 54 | Point72 Asset Management, L.P. | 1,358,1101.4M | $40M | — | ADD 70% |
| 55 | Munich Reinsurance Co Stock Corp in Munich | 1,361,9241.4M | $39M | — | NEW |
| 56 | CAPITAL INTERNATIONAL SARL | 1,332,3961.3M | $39M | — | TRIM -15% |
| 57 | AMERICAN CENTURY COMPANIES INC | 1,280,1081.3M | $38M | — | ADD 13% |
| 58 | EDMOND DE ROTHSCHILD HOLDING S.A. | 1,304,2951.3M | $38M | — | ADD 6% |
| 59 | JANE STREET GROUP, LLC | 1,132,3351.1M | $34M | — | TRIM -38% |
| 60 | PUBLIC EMPLOYEES RETIREMENT SYSTEM OF OHIO | 1,019,5421.0M | $30M | — | TRIM -14% |
| 61 | WORLDQUANT MILLENNIUM ADVISORS LLC | 1,031,1361.0M | $30M | — | ADD 211% |
| 62 | VOLORIDGE INVESTMENT MANAGEMENT, LLC | 1,002,8451.0M | $30M | — | NEW |
| 63 | ENVESTNET ASSET MANAGEMENT INC | 996,979996,979 | $30M | — | ADD 16% |
| 64 | Vanguard Global Advisers, LLC | 988,890988,890 | $29M | — | NEW |
| 65 | BANK OF MONTREAL /CAN/ | 982,797982,797 | $29M | — | TRIM -8% |
| 66 | Korea Investment CORP | 968,424968,424 | $28M | — | TRIM -47% |
| 67 | Vanguard Investments Australia, Ltd. | 905,674905,674 | $27M | — | NEW |
| 68 | CITADEL ADVISORS LLC | 887,690887,690 | $26M | — | ADD 37% |
| 69 | ALLIANCEBERNSTEIN L.P. | 664,315664,315 | $26M | — | — |
| 70 | WELLS FARGO & COMPANY/MN | 838,094838,094 | $25M | — | TRIM -25% |
| 71 | Lansforsakringar Fondforvaltning AB (publ) | 760,516760,516 | $22M | — | ADD 3% |
| 72 | TD Asset Management Inc | 730,103730,103 | $21M | — | ADD 10% |
| 73 | Gemsstock Ltd. | 711,800711,800 | $21M | — | NEW |
| 74 | MACKENZIE FINANCIAL CORP | 700,832700,832 | $20M | — | ADD 138% |
| 75 | Vontobel Holding Ltd. | 690,849690,849 | $20M | — | ADD 99% |
| 76 | CAPITAL INTERNATIONAL LTD /CA/ | 685,268685,268 | $20M | — | TRIM -13% |
| 77 | FEDERATED HERMES, INC. | 676,315676,315 | $20M | — | ADD 621% |
| 78 | JANUS HENDERSON GROUP PLC | 676,223676,223 | $20M | — | TRIM -90% |
| 79 | STATE OF WISCONSIN INVESTMENT BOARD | 668,198668,198 | $19M | — | TRIM -13% |
| 80 | Intesa Sanpaolo S.p.A. | 651,446651,446 | $19M | — | ADD 31% |
| 81 | RAYMOND JAMES FINANCIAL INC | 630,902630,902 | $19M | — | TRIM -15% |
| 82 | MUTUAL OF AMERICA CAPITAL MANAGEMENT LLC | 615,796615,796 | $18M | — | TRIM -14% |
| 83 | Quantinno Capital Management LP | 597,205597,205 | $18M | — | — |
| 84 | CREDIT AGRICOLE S A | 589,947589,947 | $18M | — | TRIM -90% |
| 85 | SUSQUEHANNA INTERNATIONAL GROUP, LLP | 584,793584,793 | $17M | — | ADD 1625% |
| 86 | Compagnie Lombard Odier SCmA | 585,277585,277 | $17M | — | TRIM -7% |
| 87 | ASR Vermogensbeheer N.V. | 584,563584,563 | $17M | — | ADD 35% |
| 88 | Groupe la Francaise | 569,129569,129 | $16M | — | TRIM -56% |
| 89 | Banco Santander, S.A. | 524,556524,556 | $16M | — | TRIM -87% |
| 90 | O'SHAUGHNESSY ASSET MANAGEMENT, LLC | 484,784484,784 | $14M | — | TRIM -16% |
| 91 | Martin Investment Management, LLC | 475,760475,760 | $14M | — | TRIM -10% |
| 92 | M&G PLC | 445,054445,054 | $13M | — | ADD 2398% |
| 93 | OSSIAM | 421,770421,770 | $12M | — | ADD 68% |
| 94 | Ilex Capital Partners (UK) LLP | 411,441411,441 | $12M | — | NEW |
| 95 | Westend Capital Management, LLC | 371,021371,021 | $11M | — | ADD 3% |
| 96 | ROYAL LONDON ASSET MANAGEMENT LTD | 362,053362,053 | $11M | — | TRIM -3% |
| 97 | WELLINGTON MANAGEMENT GROUP LLP | 363,902363,902 | $11M | — | — |
| 98 | CAPITAL FUND MANAGEMENT S.A. | 341,346341,346 | $10M | — | ADD 422% |
| 99 | ASSETMARK, INC | 334,203334,203 | $10M | — | ADD 3% |
| 100 | Assenagon Asset Management S.A. | 336,512336,512 | $10M | — | ADD 52% |
† a filer this large appearing as NEW usually reflects a renamed or succeeded filing entity (the old name stops filing the same quarter) — not a brand-new position.
Rows rank by the value each filer reported — 13F filers price their own positions, so a holder with fewer shares can rank just above one with more.
| Holder | 2024-Q4 | 2025-Q1 | 2025-Q2 | 2025-Q3 | 2025-Q4 | 2026-Q1 | Latest value |
|---|---|---|---|---|---|---|---|
| DEUTSCHE BANK AG\ | 43.3M | 47.7M | 64.1M | 86.0M | 56.8M | 69.9M | $2.1B |
| Amundi | 39.2M | 35.3M | 40.7M | 49.6M | 53.9M | 60.1M | $1.8B |
| VANGUARD CAPITAL MANAGEMENT LLC | — | — | — | — | — | 54.4M | $1.6B |
| UBS Group AG | 31.0M | 29.4M | 32.0M | 30.0M | 31.3M | 31.8M | $946M |
| Fisher Asset Management, LLC | — | 18.9M | 25.5M | 26.4M | 27.4M | 28.4M | $846M |
| Capital World Investors | — | 4.4M | 4.4M | 4.4M | 19K | 25.3M | $741M |
| CAUSEWAY CAPITAL MANAGEMENT LLC | — | 1.5M | 19.3M | 17.6M | 14.2M | 25.0M | $723M |
| Capital International Investors | 87.7M | 96.0M | 86.6M | 82.5M | 66.5M | 23.5M | $685M |
| GOLDMAN SACHS GROUP INC | 10.7M | 7.8M | 10.3M | 17.5M | 16.7M | 21.8M | $649M |
| BANK OF AMERICA CORP /DE/ | 9.4M | 9.9M | 10.6M | 12.4M | 11.7M | 21.4M | $638M |
| CITIGROUP INC | 3.0M | 4.2M | 3.2M | 3.9M | 6.0M | 21.3M | $630M |
| DekaBank Deutsche Girozentrale | 16.4M | 15.8M | 18.0M | 20.1M | 17.8M | 18.7M | $601M |
| VANGUARD FIDUCIARY TRUST CO | — | — | — | — | — | 15.4M | $458M |
| Legal & General Group Plc | 16.1M | 15.5M | 15.2M | 14.3M | 14.7M | 14.5M | $420M |
| AQR CAPITAL MANAGEMENT LLC | 109K | 126K | 187K | 281K | 8.0M | 13.6M | $394M |
Shares reported each quarter by the largest current holders. Green = added vs the prior filing, red = trimmed, grey = roughly held; a dash is a quarter with no 13F on file (a gap is skipped, not read as an exit). 13F is filed up to 45 days after quarter-end. Up to 40 quarters (10 years) available — use the selector above.
Holder count only — too few computable %-of-shares-outstanding quarters for a % pane. Line breaks are quarters with no 13F record, never interpolated.
Short interest has its own tab now — open SI →
Source: SEC Form 13F — every institution manager (≥ $100M in 13F securities) reporting a long US-listed position, across ~10,250 filers over 10 years of history. 13F is long-only, US-listed, filed up to 45 days after quarter-end.
| Holder | % of class | Type | As of | |
|---|---|---|---|---|
| Capital International Investors | 5% | QII | 2025-06-30 | SEC → |
Source: SEC Schedule 13D/13G structured XML. 13D = active intent; 13G filers report passively (Rule 13d-1(b) QII / 13d-1(c) Passive / 13d-1(d) Exempt) and are not activists. Percent and delta are the group aggregate the filing reports. Structured 13D/G coverage begins December 2024 (SEC XML mandate).
| Biggest buyers | Δ shares | Δ value | |
|---|---|---|---|
| VANGUARD CAPITAL MANAGEMENT LLC | +54,440,384 | $1.6B | OPEN |
| Capital World Investors | +25,298,756 | $753M | ADD |
| VANGUARD FIDUCIARY TRUST CO | +15,402,466 | $459M | OPEN |
| CITIGROUP INC | +15,341,311 | $457M | ADD |
| DEUTSCHE BANK AG\ | +13,126,467 | $391M | ADD |
| Biggest sellers | Δ shares | Δ value | |
|---|---|---|---|
| VANGUARD GROUP INC | −80,119,806 | $2.4B | CLOSE |
| Capital International Investors | −42,957,755 | $1.3B | TRIM |
| ACADIAN ASSET MANAGEMENT LLC | −14,589,685 | $434M | TRIM |
| NORGES BANK | −13,705,195 | $408M | CLOSE |
| JANUS HENDERSON GROUP PLC | −6,261,957 | $186M | TRIM |
The 2025-Q4 register is as-filed in ITS OWN share basis; every count below was rebased into the 2026-Q1 basis (no split in between, factor 1). Dollar figures value the SHARE delta at one price — the 2026-03-31 close — rather than differencing two filings' own reported values, which would mix the quarter's price move into the trade figure.
13Fs disclose LONG US-listed positions only — shorts, most derivatives, bonds and non-US listings are invisible here, and a filer's quarter-over-quarter change is not necessarily a trade (index rebalances, in-kind transfers and entity successions all read as flow).
| Quarter | Holders | Shares held | % shares out | Value held |
|---|---|---|---|---|
| 2026-Q1 | 472 | 658,923,668 | — | $19.5B |
| 2025-Q4 | 487 | 640,840,683 | — | $24.6B |
| 2025-Q3 | 431 | 714,816,047 | — | $24.9B |
| 2025-Q2 | 418 | 659,035,677 | — | $19.4B |
| 2025-Q1 | 353 | 624,296,775 | — | $14.8B |
| 2024-Q4 | 316 | 607,467,937 | — | $10.5B |
| 2024-Q3 | 297 | 601,297,611 | — | $10.4B |
| 2024-Q2 | 293 | 576,675,995 | — | $9.2B |
| 2024-Q1 | 268 | 592,428,792 | — | $9.3B |
| 2023-Q4 | 269 | 589,214,731 | — | $8.0B |
| 2023-Q3 | 246 | 510,854,701 | — | $5.6B |
| 2023-Q2 | 248 | 469,342,188 | — | $4.9B |
| 2023-Q1 | 248 | 519,676,826 | — | $5.3B |
| 2022-Q4 | 225 | 560,099,342 | — | $6.5B |
| 2022-Q3 | 224 | 559,866,028 | — | $4.2B |
| 2022-Q2 | 239 | 551,577,911 | — | $4.8B |
| 2022-Q1 | 242 | 640,503,375 | — | $8.1B |
| 2021-Q4 | 235 | 633,314,796 | — | $8.0B |
| 2021-Q3 | 231 | 549,967,949 | — | $7.0B |
| 2021-Q2 | 244 | 576,255,051 | — | $7.5B |
| 2021-Q1 | 226 | 568,668,128 | — | $6.8B |
| 2020-Q4 | 211 | 545,444,956 | — | $6.0B |
| 2020-Q3 | 202 | 521,074,586 | — | $4.4B |
| 2020-Q2 | 212 | 541,513,835 | — | $5.1B |
| 2020-Q1 | 201 | 518,742,677 | — | $3.4B |
| 2019-Q4 | 200 | 450,358,299 | — | $3.5B |
| 2019-Q3 | 188 | 459,577,398 | — | $3.4B |
| 2019-Q2 | 191 | 480,343,392 | — | $3.7B |
| 2019-Q1 | 209 | 501,548,858 | — | $4.1B |
| 2018-Q4 | 209 | 542,686,808 | — | $4.4B |
| 2018-Q3 | 205 | 539,393,603 | — | $6.1B |
| 2018-Q2 | 205 | 515,755,502 | — | $5.5B |
| 2018-Q1 | 224 | 457,313,134 | — | $6.4B |
| 2017-Q4 | 223 | 516,793,083 | — | $9.8B |
| 2017-Q3 | 214 | 461,974,061 | — | $8.0B |
| 2017-Q2 | 202 | 499,651,461 | — | $8.9B |
| 2017-Q1 | 202 | 354,236,320 | — | $6.3B |
| 2016-Q4 | 202 | 377,625,336 | — | $6.9B |
| 2016-Q3 | 183 | 338,895,164 | — | $4.4B |
| 2016-Q2 | 175 | 372,362,247 | — | $5.1B |
| 2016-Q1 | 166 | 314,630,923 | — | $5.4B |
| 2015-Q4 | 165 | 320,948,817 | — | $7.9B |
| 2015-Q3 | 176 | 327,108,586 | — | $8.8B |
| 2015-Q2 | 183 | 319,001,392 | — | $9.6B |
| 2015-Q1 | 162 | 272,350,246 | — | $9.4B |
| 2014-Q4 | 173 | 228,755,909 | — | $6.9B |
| 2014-Q3 | 168 | 238,919,879 | — | $8.4B |
| 2014-Q2 | 160 | 305,712,188 | — | $10.8B |
| 2014-Q1 | 165 | 196,698,696 | — | $8.8B |
| 2013-Q4 | 181 | 184,911,486 | — | $8.9B |
| 2013-Q3 | 164 | 168,580,931 | — | $7.7B |
| 2013-Q2 | 164 | 191,288,323 | — | $7.4B |
| 2013-Q1 | 10 | 31,116,613 | — | $1.2B |
