Deutsche Bank AG-RegisteredDB
13F holders, Q2 2026 (June 30)507holders +32
81new positions
52sold out
10famous investors
$33.81avg. 13F price*
At the end of Q2 2026, 507 institutions reported holding Deutsche Bank AG-Registered (DB) in their 13F filings, up 32 from Q1 2026. 81 opened new positions and 52 sold out. The largest holders were Deutsche Bank AG ($2.6B), Amundi ($2.0B) and Vanguard Capital Management LLC ($1.8B). 10 famous investors held it, including Jeremy Grantham (0.4% of GMO's portfolio), Ken Fisher (0.3% of Fisher Asset Management's portfolio) and Andreas Halvorsen (0.2% of Viking Global Investors's portfolio).
- Company
- Deutsche Bank AG-Registered
- CUSIP
- D18190898
- Latest filing quarter
- Q2 2026
History
Number of 13F holders
Total Exit/New Position Q1 2026 → Q2 2026
| Institutions | Total Value | |
|---|---|---|
| New Positions | 81 | $643.1M |
| Exits | 52 | $93.8M |
All 13F filers, Q1 2026 → Q2 2026: 88,660,232 shares bought and 63,699,966 shares sold, net +24,960,266 shares. Counts holders who added, trimmed, opened or closed a position; split-adjusted.
Ownership 507 holders
| Deutsche Bank AG | 0.75% | Add +9.8% | 76,744,247 | $2.6B |
| Amundi | 0.48% | Reduce -2.8% | 58,368,383 | $2.0B |
| Vanguard Capital Management LLC | 0.04% | Reduce -0.8% | 53,990,646 | $1.8B |
| Fisher Asset Management | 0.30% | Add +4.6% | 29,700,418 | $1.0B |
| Causeway Capital Management LLC | 10.77% | Add +17.6% | 29,358,318 | $994.2M |
| UBS Group AG | 0.16% | Reduce -8.7% | 28,999,073 | $979.0M |
| Goldman Sachs Group Inc. | 0.10% | Add +30.2% | 28,368,611 | $957.7M |
| Citigroup Inc. | 0.41% | Add +21.2% | 25,816,829 | $874.4M |
| Capital World Investors | 0.09% | Reduce -7.3% | 23,483,103 | $795.1M |
| Norges Bank | 0.08% | — | 22,999,021 | $778.2M |
| Bank of America Corp. | 0.05% | Add +6.7% | 22,857,761 | $771.7M |
| DekaBank Deutsche Girozentrale | 1.16% | Add +4.8% | 19,644,345 | $685.0M |
| BNP PARIBAS ASSET MANAGEMENT Holding S.A. | 0.59% | Add +29.2% | 17,236,202 | $581.8M |
| AQR Capital Management | 0.19% | Add +19.3% | 16,205,893 | $547.9M |
| Vanguard Fiduciary Trust Co. | 0.11% | Reduce -1.1% | 15,234,236 | $515.9M |
| Legal & General Group Plc | 0.09% | Reduce -7.6% | 13,417,118 | $454.5M |
| Entrust Global Partners L L C | 79.22% | Reduce -0.9% | 12,033,865 | $407.2M |
| Bank of New York Mellon Corp | 0.06% | Add +268.0% | 10,913,948 | $368.5M |
| DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main | 0.28% | Add +10.8% | 10,434,591 | $353.1M |
| FMR LLC | 0.01% | Add +48.8% | 9,471,872 | $320.6M |
| VANGUARD ASSET MANAGEMENT, Ltd | 0.21% | Add +3.5% | 9,002,799 | $304.9M |
| JPMorgan Chase & Co. | 0.02% | Reduce -26.6% | 8,652,904 | $292.6M |
| Franklin Resources Inc. | 0.06% | Reduce -7.8% | 8,405,252 | $284.4M |
| Two Sigma Investments, LP | 0.20% | Add +62.5% | 7,481,669 | $252.6M |
| Royal Bank of Canada | 0.04% | Add +221.4% | 7,163,397 | $241.8M |
| Dimensional Fund Advisors LP | 0.04% | New | 6,193,209 | $209.1M |
| Liontrust Investment Partners LLP | 3.02% | New | 6,064,095 | $205.4M |
| GMO | 0.40% | Add +29.0% | 5,288,878 | $179.1M |
| Canada Pension Plan Investment Board | 0.10% | Add +51.1% | 5,118,875 | $173.2M |
| Morgan Stanley | 0.01% | Reduce -20.8% | 4,481,398 | $151.3M |
| Caisse de depot et placement du Quebec | 0.20% | Reduce -8.5% | 4,060,388 | $137.5M |
| Banco Santander, S.A. | 0.85% | Add +674.4% | 4,062,367 | $137.1M |
| Russell Investments Group, Ltd. | 0.11% | Add +6.5% | 3,613,588 | $122.4M |
| Allianz Asset Management GmbH | 0.10% | Reduce -20.4% | 3,274,982 | $110.7M |
| Nuveen, LLC | 0.03% | Reduce -2.6% | 3,267,083 | $110.3M |
| Invesco Ltd. | 0.01% | Reduce -24.6% | 3,204,026 | $108.2M |
| Munich Reinsurance Co Stock Corp in Munich | 2.27% | Add +125.0% | 3,064,830 | $103.8M |
| Nippon Life Insurance Co. | 1.62% | No change | 2,898,520 | $98.0M |
| Viking Global Investors | 0.24% | New | 2,510,554 | $85.0M |
| Northern Trust Corp. | 0.01% | Add +2.9% | 2,389,815 | $80.7M |
| Lazard Asset Management LLC | 0.12% | Add +10.7% | 2,377,893 | $80.5M |
| Credit Agricole S A | 0.20% | Add +299.9% | 2,359,420 | $79.7M |
| Public Sector Pension Investment Board | 0.21% | Add +59.9% | 2,324,432 | $78.8M |
| BlackRock, Inc. | 0.00% | Reduce -0.2% | 2,119,703 | $71.6M |
| Aviva PLC | 0.10% | Add +0.6% | 2,092,782 | $70.8M |
| Acadian Asset Management LLC | 0.08% | Reduce -62.6% | 1,976,298 | $66.9M |
| Jane Street Group, LLC | 0.04% | Add +67.2% | 1,893,455 | $63.9M |
| Manufacturers Life Insurance Company, The | 0.05% | Reduce -11.8% | 1,770,515 | $59.9M |
| Zurcher Kantonalbank (Zurich Cantonalbank) | 0.11% | Add +5.7% | 1,738,118 | $58.9M |
| Pictet Asset Management Holding SA | 0.06% | Reduce -21.6% | 1,731,462 | $58.6M |
| Arrowstreet Capital, Limited Partnership | 0.02% | Add +13.3% | 1,645,980 | $55.7M |
| Intech Investment Management LLC | 0.50% | Reduce -14.5% | 1,596,328 | $54.1M |
| Millennium Management | 0.04% | Reduce -8.0% | 1,596,838 | $53.9M |
| SIH Partners, LLLP | 2.12% | Reduce -10.7% | 1,506,004 | $50.8M |
| Artemis Investment Management LLP | 0.44% | New | 1,460,491 | $49.4M |
| American Century Companies Inc. | 0.02% | Add +12.0% | 1,434,118 | $48.4M |
| Edmond DE Rothschild Holding S.A. | 0.59% | Add +1.1% | 1,318,019 | $44.5M |
| SEB Asset Management AB | 0.16% | Reduce -30.5% | 1,271,964 | $43.1M |
| Vanguard Global Advisers, LLC | 0.02% | Add +22.9% | 1,214,984 | $41.1M |
| Bank of Montreal | 0.01% | Add +13.4% | 1,114,355 | $37.7M |
| Korea Investment CORP | 0.07% | Add +14.9% | 1,112,597 | $37.7M |
| Public Employees Retirement System of Ohio | 0.10% | Add +0.4% | 1,023,950 | $34.6M |
| Zurich Insurance Group Ltd | 0.24% | Add +1315.8% | 1,009,455 | $34.2M |
| Commerzbank Aktiengesellschaft | 0.68% | Reduce -78.5% | 1,007,236 | $34.0M |
| Capital International Sarl | 0.44% | Reduce -30.6% | 924,043 | $31.3M |
| Vanguard Investments Australia, Ltd. | 0.08% | Add +1.5% | 919,552 | $31.1M |
| Federated Hermes, Inc. | 0.04% | Add +23.8% | 837,178 | $28.3M |
| Qube Research & Technologies Ltd | 0.03% | Reduce -52.1% | 830,729 | $28.1M |
| BNP Paribas Financial Markets | 0.01% | Reduce -54.3% | 793,963 | $26.8M |
| TD Asset Management Inc | 0.02% | Add +3.7% | 756,789 | $25.6M |
| Quantinno Capital Management LP | 0.03% | Add +26.6% | 755,966 | $25.5M |
| Mackenzie Financial Corp. | 0.03% | Add +20.8% | 846,221 | $25.1M |
| Jupiter Topco LLC | 0.01% | — | 713,479 | $24.2M |
| Envestnet Asset Management Inc. | 0.01% | Reduce -29.7% | 701,310 | $23.7M |
| Lansforsakringar Fondforvaltning AB (publ) | 0.10% | Reduce -10.0% | 684,256 | $23.2M |
| State of Wisconsin Investment Board | 0.05% | Add +1.2% | 675,985 | $22.9M |
| Citadel Advisors | 0.01% | Reduce -23.9% | 675,474 | $22.8M |
| Capital International, Inc. | 0.15% | Reduce -61.1% | 640,917 | $21.7M |
| Groupe la Francaise | 0.26% | Add +11.3% | 633,148 | $21.4M |
| Compagnie Lombard Odier SCmA | 0.23% | Add +7.5% | 629,267 | $21.3M |
| ASR Vermogensbeheer N.V. | 0.21% | Add +2.0% | 596,263 | $20.2M |
| Mutual of America Capital Management LLC | 0.20% | Reduce -3.5% | 594,380 | $20.1M |
| Exane Asset Management | 6.92% | New | 565,061 | $19.1M |
| O'shaughnessy Asset Management, LLC | 0.08% | Add +7.1% | 519,236 | $17.5M |
| Capital International Ltd. | 0.55% | Reduce -27.5% | 497,002 | $16.8M |
| Rokos Capital Management LLP | 0.20% | Add +268.4% | 473,688 | $16.0M |
| Martin Investment Management, LLC | 5.20% | Reduce -3.0% | 461,285 | $15.6M |
| Alliancebernstein L.P. | 0.01% | Reduce -22.4% | 515,171 | $15.3M |
| Foresight Global Investors, Inc. | 8.97% | New | 438,200 | $14.8M |
| Vontobel Holding Ltd. | 0.05% | Reduce -38.3% | 426,347 | $14.4M |
| Charles Schwab Investment Management Inc. | 0.00% | Add +40.9% | 414,958 | $14.0M |
| Worldquant Millennium Advisors LLC | 0.05% | Reduce -60.3% | 409,769 | $13.9M |
| DJE Kapital AG | 0.26% | New | 402,277 | $13.6M |
| Voloridge Investment Management, LLC | 0.06% | Reduce -60.2% | 398,862 | $13.5M |
| Raymond James Financial Inc. | 0.00% | Reduce -37.3% | 395,763 | $13.4M |
| Westend Capital Management, LLC | 2.85% | Reduce -0.5% | 369,119 | $12.5M |
| Creative Planning | 0.01% | Add +23.0% | 363,738 | $12.3M |
| Wellington Management Group LLP | 0.00% | Reduce -5.6% | 343,619 | $11.6M |
| Assenagon Asset Management S.A. | 0.01% | Reduce -0.8% | 333,726 | $11.3M |
| Royal London Asset Management Ltd. | 0.02% | Reduce -9.0% | 329,502 | $11.1M |
| Susquehanna International Group, LLP | 0.01% | Reduce -45.3% | 319,884 | $10.8M |
| Prudential PLC | 0.07% | Add +2.8% | 317,169 | $10.7M |
| Point72 Asset Management | 0.02% | Reduce -78.8% | 287,797 | $9.7M |
| First Trust Advisors LP | 0.01% | Reduce -3.8% | 286,587 | $9.7M |
| Marshall Wace, LLP | 0.01% | New | 285,768 | $9.7M |
| Natixis Advisors, LLC | 0.01% | Reduce -12.2% | 284,716 | $9.6M |
| Generali Asset Management SPA SGR | 0.17% | Reduce -14.2% | 316,419 | $9.4M |
| Van Eck Associates Corp. | 0.01% | New | 265,167 | $9.0M |
| Fiera Capital Corp | 0.03% | Add +1.6% | 261,749 | $8.8M |
| Pathstone Holdings, LLC | 0.03% | Add +23.0% | 259,776 | $8.8M |
| New York State Common Retirement Fund | 0.01% | Add +88.5% | 256,655 | $8.7M |
| Voya Investment Management LLC | 0.01% | Add +6.0% | 243,290 | $8.2M |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. | 0.01% | Reduce -8.8% | 239,720 | $8.1M |
| Capital International Investors | 0.00% | Reduce -99.0% | 239,379 | $8.1M |
| Mediolanum International Funds Ltd | 0.07% | Add +21.7% | 238,831 | $8.1M |
| J. Safra Sarasin Holding AG | 0.11% | Add +197.1% | 245,931 | $7.9M |
| ABN AMRO Bank N.V. | 0.10% | Add +11.2% | 225,278 | $7.6M |
| Sei Investments Co. | 0.01% | Add +24.8% | 220,156 | $7.4M |
| Wells Fargo & Company | 0.00% | Reduce -73.9% | 218,659 | $7.4M |
| SCS Capital Management LLC | 0.07% | Add +0.3% | 214,545 | $7.2M |
| Balyasny Asset Management L.P. | 0.01% | Add +153.6% | 209,622 | $7.1M |
| Baader Bank Aktiengesellschaft | 0.56% | Reduce -17.1% | 203,000 | $6.9M |
| Assetmark, Inc. | 0.01% | Reduce -43.7% | 188,147 | $6.4M |
| Mariner, LLC | 0.01% | Add +7.4% | 185,457 | $6.3M |
| QRG Capital Management, Inc. | 0.05% | Add +13.5% | 184,060 | $6.2M |
| Capital Fund Management S.A. | 0.04% | Reduce -46.1% | 184,036 | $6.2M |
| MetLife Investment Management, LLC | 0.03% | Add +3.1% | 178,028 | $6.0M |
| Callan Family Office, LLC | 0.12% | Add +11.5% | 177,603 | $6.0M |
| Bank Julius Baer & Co. Ltd, Zurich | 0.02% | Reduce -9.6% | 175,425 | $5.9M |
| Alberta Investment Management Corp | 0.04% | New | 172,500 | $5.8M |
| Thrivent Financial for Lutherans | 0.01% | Add +159.1% | 171,465 | $5.8M |
| Ritholtz Wealth Management | 0.08% | Add +0.5% | 164,407 | $5.6M |
| Henry James International Management Inc. | 1.66% | Add +0.0% | 163,695 | $5.5M |
| Allianz SE | 0.06% | No change | 161,960 | $5.5M |
| Gradient Investments LLC | 0.07% | Add +7.7% | 160,989 | $5.4M |
| Crossmark Global Holdings, Inc. | 0.07% | Reduce -1.9% | 151,980 | $5.1M |
| Mercer Global Advisors Inc. | 0.01% | Reduce -1.5% | 147,274 | $5.0M |
| LGT Group Foundation | 0.05% | Reduce -1.5% | 135,451 | $4.6M |
| Vanguard Personalized Indexing Management, LLC | 0.04% | Add +3.7% | 131,413 | $4.4M |
| Cerity Partners LLC | 0.01% | Reduce -4.2% | 128,461 | $4.3M |
| Achmea Investment Management B.V. | 0.11% | No change | 127,530 | $4.3M |
| Landesbank Baden-Wuerttemberg | 1.56% | Reduce -77.0% | 123,984 | $4.2M |
| LGT Fund Management Co Ltd. | 0.17% | Reduce -40.0% | 123,800 | $4.2M |
| Fideuram Asset Management (Ireland) dac | 0.08% | Add +348.6% | 149,608 | $4.1M |
| State of Tennessee, Department of Treasury | 0.01% | Reduce -6.4% | 119,501 | $4.0M |
| Ossiam | 0.05% | Reduce -71.7% | 119,494 | $4.0M |
| Groupama Asset Managment | 0.05% | Add +1.0% | 129,106 | $3.8M |
| Lighthouse Investment Partners, LLC | 0.11% | Reduce -33.7% | 107,713 | $3.6M |
| Neuberger Berman Group LLC | 0.00% | Add +67.5% | 107,376 | $3.6M |
| Mitsubishi UFJ Trust & Banking Corp | 0.01% | Reduce -30.3% | 106,142 | $3.6M |
| Capital Group Investment Management Pte. LTD. | 0.54% | Reduce -28.1% | 106,078 | $3.6M |
| Numerai GP LLC | 0.29% | Add +68.5% | 105,057 | $3.5M |
| Intesa Sanpaolo S.p.A. | 0.12% | Reduce -84.2% | 103,168 | $3.5M |
| FIL Ltd | 0.00% | Add +17.2% | 101,345 | $3.4M |
| LPL Financial LLC | 0.00% | Reduce -24.9% | 101,058 | $3.4M |
| Metatron Capital SICAV plc - Metatron Long Term Equity Fund | 1.66% | — | 100,000 | $3.4M |
| Vestmark Advisory Solutions, Inc. | 0.03% | Reduce -0.4% | 97,885 | $3.3M |
| Cetera Investment Advisers | 0.00% | Add +8.0% | 97,692 | $3.3M |
| Oppenheimer Asset Management Inc. | 0.03% | Add +27.4% | 92,648 | $3.1M |
| HSBC Holdings PLC | 0.00% | Add +51.1% | 84,393 | $2.9M |
| Orion Porfolio Solutions, LLC | 0.02% | Add +75.0% | 82,133 | $2.8M |
| Engineers Gate Manager LP | 0.04% | Reduce -31.6% | 80,652 | $2.7M |
| Intellectus Partners, LLC | 0.47% | Reduce -1.1% | 80,337 | $2.7M |
| MML Investors Services, LLC | 0.01% | Reduce -10.3% | 80,046 | $2.7M |
| Banque Cantonale Vaudoise | 0.11% | Add +9.2% | 79,541 | $2.7M |
| Marex Group Ltd | 0.02% | Add +26.4% | 78,782 | $2.7M |
| Oppenheimer & Co. Inc. | 0.03% | Reduce -49.3% | 77,649 | $2.6M |
| Vident Advisory, LLC | 0.02% | Reduce -5.9% | 76,894 | $2.6M |
| HRT Financial LP | 0.00% | New | 74,905 | $2.5M |
| Jones Financial Companies LLLP | 0.00% | Reduce -41.1% | 75,137 | $2.5M |
| Payne Capital Management, LLC | 0.66% | New | 73,599 | $2.5M |
| Quantbot Technologies LP | 0.10% | Reduce -19.0% | 71,415 | $2.4M |
| &partners | 0.01% | Reduce -28.2% | 70,399 | $2.4M |
| Cibc World Market Inc. | 0.00% | Reduce -7.7% | 69,973 | $2.4M |
| Ensign Peak Advisors, Inc | 0.00% | No change | 68,850 | $2.3M |
| Quadrant Capital Group LLC | 0.06% | Reduce -17.7% | 67,974 | $2.3M |
| Laird Norton Wetherby Trust Company, LLC | 0.04% | Reduce -2.0% | 60,554 | $2.0M |
| Ameriprise Financial Inc. | 0.00% | Add +11.3% | 60,099 | $2.0M |
| US Bancorp \de | 0.00% | Add +3.1% | 59,086 | $2.0M |
| Polymer Capital Management (HK) LTD | 0.19% | New | 56,177 | $1.9M |
| Focus Partners Wealth | 0.00% | Reduce -28.2% | 56,263 | $1.9M |
| Allspring Global Investments Holdings, LLC | 0.00% | Add +37.4% | 54,287 | $1.8M |
| Cary Street Partners Financial LLC | 0.04% | Reduce -2.8% | 53,828 | $1.8M |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC | 0.00% | No change | 53,811 | $1.8M |
| PNC Financial Services Group, Inc. | 0.00% | Add +5.0% | 53,227 | $1.8M |
| Y-Intercept (Hong Kong) Ltd | 0.04% | New | 52,784 | $1.8M |
| Metis Global Partners, LLC | 0.04% | Add +9.4% | 51,611 | $1.7M |
| Bannerstone Capital Management, LLC | 1.46% | Reduce -0.1% | 51,482 | $1.7M |
| Baron Capital (BAMCO) | 0.00% | Reduce -63.2% | 51,421 | $1.7M |
| Radnor Capital Management, LLC | 0.24% | Reduce -7.2% | 51,400 | $1.7M |
| Osmosis Investment Management UK Ltd | 0.08% | Reduce -61.8% | 50,524 | $1.7M |
| HPC Germany GmbH & Co. KG | 100.00% | No change | 49,718 | $1.7M |
| Northwestern Mutual Wealth Management Co. | 0.00% | Add +30.0% | 46,777 | $1.6M |
| 1832 Asset Management L.P. | 0.00% | Reduce -55.8% | 46,572 | $1.6M |
| Rathbones Group PLC | 0.01% | Add +59.9% | 45,850 | $1.5M |
| Signaturefd, LLC | 0.02% | Add +11.0% | 45,439 | $1.5M |
| Wealth Enhancement Advisory Services, LLC | 0.00% | Add +17.4% | 40,948 | $1.5M |
| Prospera Financial Services Inc | 0.02% | Add +2.3% | 42,293 | $1.4M |
| Summit Global Investments | 0.08% | Add +3.0% | 41,545 | $1.4M |
| Compound Planning, Inc. | 0.04% | Add +13.5% | 39,731 | $1.3M |
| Ethic Inc. | 0.02% | Add +106.8% | 39,537 | $1.3M |
| Maverick Capital | 0.01% | Add +63.2% | 38,837 | $1.3M |
| Gabelli Funds LLC | 0.01% | No change | 38,000 | $1.3M |
| GeoWealth Management, LLC | 0.04% | Add +32.8% | 37,807 | $1.3M |
| GC Wealth Management RIA, LLC | 0.07% | Add +45.9% | 36,934 | $1.2M |
| Plato Investment Management Ltd | 0.07% | Reduce -45.1% | 37,024 | $1.2M |
| Optiver Holding B.V. | 0.02% | Add +5.8% | 36,797 | $1.2M |
| Sequoia Financial Advisors, LLC | 0.01% | Reduce -20.1% | 35,041 | $1.2M |
| Essex Financial Services, Inc. | 0.06% | No change | 34,246 | $1.2M |
| Maseco LLP | 0.03% | New | 34,024 | $1.1M |
| Caprock Group, LLC | 0.02% | Reduce -3.0% | 33,780 | $1.1M |
| Bleakley Financial Group, LLC | 0.01% | Reduce -60.6% | 33,542 | $1.1M |
| D. E. Shaw & Co. | 0.00% | New | 33,532 | $1.1M |
| Janney Montgomery Scott LLC | 0.00% | Reduce -39.5% | 33,419 | $1.1M |
| NewEdge Wealth, LLC | 0.01% | Reduce -29.3% | 32,869 | $1.1M |
| Evergreen Capital Management LLC | 0.02% | Add +8.4% | 32,527 | $1.1M |
| Corient Private Wealth LP | 0.00% | Add +6.5% | 30,854 | $1.0M |
| NLB Skladi, upravljanje premozenja, d.o.o. | 0.04% | Reduce -10.1% | 30,447 | $1.0M |
| Syon Capital LLC | 0.04% | Add +4.0% | 29,362 | $991K |
| Themes Management Co LLC | 0.64% | Reduce -12.3% | 28,695 | $969K |
| Merit Financial Group, LLC | 0.01% | Add +122.4% | 28,637 | $967K |
| Blair William & Co. | 0.00% | Add +5.7% | 27,893 | $942K |
| Keybank National Association | 0.00% | Add +107.1% | 27,701 | $935K |
| XTX Topco Ltd | 0.01% | Reduce -53.6% | 27,400 | $925K |
| Park Avenue Securities LLC | 0.01% | Add +0.2% | 27,409 | $925K |
| Hollencrest Capital Management | 0.06% | No change | 27,216 | $919K |
| Strategic Global Advisors, LLC | 0.13% | Add +60.2% | 25,138 | $885K |
| Waterfront Wealth Inc. | 0.14% | Reduce -0.2% | 24,542 | $878K |
| Atlas Capital Advisors Inc. | 0.10% | Add +12.9% | 25,766 | $870K |
| Ashton Thomas Securities, LLC | 0.13% | Add +45.1% | 25,383 | $857K |
| Graham Capital Management, L.P. | 0.03% | Add +10.1% | 25,209 | $851K |
| Capital Group Private Client Services, Inc. | 0.01% | Reduce -89.5% | 24,927 | $844K |
| Baron Wealth Management LLC | 0.22% | Add +0.4% | 24,957 | $843K |
| Osaic Holdings, Inc. | 0.00% | Reduce -20.1% | 24,940 | $842K |
| Pinnacle Holdings, LLC | 0.28% | No change | 24,900 | $841K |
| Henshaw Capital LLC | 0.03% | No change | 24,540 | $828K |
| Kathmere Capital Management, LLC | 0.04% | Add +16.1% | 24,526 | $828K |
| Highland Capital Management, LLC | 0.04% | Add +0.2% | 24,140 | $815K |
| IMC-Chicago, LLC | 0.01% | New | 23,328 | $788K |
| Rhumbline Advisers | 0.00% | Reduce -4.7% | 22,838 | $771K |
| Aprio Wealth Management, LLC | 0.04% | Add +0.9% | 22,838 | $771K |
| Pinnacle Associates Ltd. | 0.01% | Reduce -34.4% | 22,790 | $769K |
| Choreo, LLC | 0.01% | Reduce -3.8% | 22,500 | $760K |
| Jain Global LLC | 0.01% | New | 22,427 | $757K |
| Versant Capital Management, Inc | 0.07% | Add +2.8% | 22,407 | $756K |
| Glenmede Trust Co. NA | 0.00% | Reduce -12.8% | 22,385 | $756K |
| Ashton Thomas Private Wealth, LLC | 0.02% | New | 22,379 | $756K |
| Caitong International Asset Management Co., Ltd | 0.10% | Add +485.7% | 22,326 | $754K |
| Axxion S.A. | 0.05% | — | 21,592 | $731K |
| Sterling Capital Management LLC | 0.01% | Add +21.9% | 21,352 | $721K |
| Dorsey & Whitney Trust CO LLC | 0.03% | Add +6.2% | 20,984 | $708K |
| M&T Bank Corp | 0.00% | Reduce -3.4% | 20,841 | $703K |
| HighTower Advisors, LLC | 0.00% | Reduce -0.4% | 20,438 | $690K |
| Leuthold Group, LLC | 0.07% | Reduce -92.3% | 20,364 | $687K |
| Venturi Wealth Management, LLC | 0.03% | Reduce -37.7% | 20,261 | $684K |
| Diligent Investors, LLC | 0.15% | No change | 20,000 | $675K |
| United Capital Financial Advisors, LLC | 0.00% | Reduce -26.6% | 19,335 | $653K |
| WINTON GROUP Ltd | 0.02% | New | 19,300 | $652K |
| Summit Trail Advisors, LLC | 0.01% | Add +9.3% | 19,270 | $651K |
| Ballentine Partners, LLC | 0.01% | Reduce -4.0% | 19,101 | $645K |
| Rockefeller Capital Management L.P. | 0.00% | Add +1.9% | 19,023 | $642K |
| Fullerton Fund Management Co Ltd. | 0.04% | Add +61.8% | 18,987 | $642K |
| Westerkirk Capital Inc. | 0.06% | No change | 18,461 | $623K |
| Cambridge Investment Research Advisors, Inc. | 0.00% | Add +18.8% | 18,296 | $618K |
| M&G PLC | 0.00% | Reduce -96.0% | 17,813 | $610K |
| OceanIQ Capital, LLC | 0.37% | — | 15,865 | $607K |
| USS Investment Management Ltd | 0.00% | Reduce -93.9% | 17,554 | $593K |
| Stifel Financial Corp. | 0.00% | Reduce -87.3% | 16,683 | $563K |
| Tower Research Capital LLC (TRC) | 0.01% | Reduce -69.7% | 16,257 | $549K |
| Smartleaf Asset Management LLC | 0.02% | No change | 15,938 | $539K |
| CSS LLC | 0.07% | Reduce -11.3% | 15,740 | $531K |
| Two Sigma Securities, LLC | 0.05% | New | 15,642 | $528K |
| Qsemble Capital Management, LP | 0.07% | Reduce -65.3% | 15,499 | $523K |
| denkapparat Operations GmbH | 0.17% | No change | 15,254 | $516K |
| FCG Investment Co | 0.18% | Reduce -60.3% | 15,015 | $507K |
| Concurrent Investment Advisors, LLC | 0.00% | Add +48.1% | 14,883 | $502K |
| Atria Investments, Inc | 0.01% | Reduce -39.5% | 14,748 | $498K |
| D'Orazio & Associates, Inc. | 0.06% | Add +0.1% | 14,716 | $497K |
| Drive Wealth Management, LLC | 0.09% | Add +18.9% | 14,642 | $494K |
| Ieq Capital, LLC | 0.00% | New | 14,278 | $482K |
| Trexquant Investment LP | 0.00% | Reduce -73.5% | 13,959 | $471K |
| Vise Technologies, Inc. | 0.01% | Reduce -22.1% | 13,849 | $468K |
| HUB Investment Partners, LLC | 0.01% | Reduce -2.0% | 13,736 | $464K |
| State of Wyoming | 0.05% | New | 13,509 | $456K |
| GTS Securities LLC | 0.01% | Add +0.5% | 12,938 | $437K |
| 111 Capital | 0.07% | Reduce -83.8% | 12,828 | $434K |
| HB Wealth Management, LLC | 0.00% | Add +10.9% | 12,697 | $429K |
| Sageworth Trust Co | 0.02% | Reduce -45.3% | 12,665 | $428K |
| Savant Capital, LLC | 0.00% | Add +21.1% | 12,357 | $422K |
| Oslo Pensjonsforsikring AS | 0.05% | New | 12,404 | $420K |
| MAI Capital Management | 0.00% | Add +112.2% | 12,288 | $415K |
| Parallel Advisors, LLC | 0.01% | Add +5.6% | 12,046 | $407K |
| Farther Finance Advisors, LLC | 0.00% | Reduce -2.5% | 11,797 | $398K |
| Pinnacle Wealth Planning Services, Inc. | 0.04% | Add +32.6% | 11,734 | $396K |
| Sivia Capital Partners, LLC | 0.05% | Reduce -29.6% | 11,553 | $390K |
| Sagespring Wealth Partners, LLC | 0.01% | Add +0.2% | 11,530 | $389K |
| Truist Financial Corp. | 0.00% | Reduce -35.6% | 11,350 | $383K |
| Commonwealth Equity Services, LLC | 0.00% | Add +47.8% | 11,117 | $375K |
| Cresset Asset Management, LLC | 0.00% | Reduce -25.5% | 10,576 | $357K |
| International Assets Investment Management, LLC | 0.02% | New | 355,090 | $356K |
| EFG International AG | 0.01% | No change | 10,512 | $355K |
| Envestnet Portfolio Solutions, Inc. | 0.00% | Add +16.4% | 10,441 | $352K |
| Citizens Financial Group Inc. | 0.00% | Add +7.8% | 10,406 | $351K |
| Aaron Wealth Advisors LLC | 0.02% | New | 10,222 | $345K |
| National Bank of Canada | 0.00% | Reduce -72.3% | 10,003 | $345K |
| NBT Bank, N.A. | 0.02% | No change | 10,000 | $338K |
| Kahn Brothers Group Inc. | 0.05% | No change | 10,000 | $338K |
| Greenleaf Trust | 0.00% | Add +6.2% | 9,999 | $338K |
| Sanctuary Advisors, LLC | 0.00% | Reduce -74.1% | 9,945 | $336K |
| AlphaCore Capital LLC | 0.01% | Add +29.4% | 9,885 | $334K |
| Valeo Financial Advisors, LLC | 0.01% | Add +43.2% | 9,756 | $329K |
| Captrust Financial Advisors | 0.00% | New | 9,592 | $324K |
| Mattson Financial Services, LLC | 0.07% | Add +3.9% | 8,777 | $316K |
| Keebeck Wealth Management | 0.03% | Add +21.8% | 9,307 | $314K |
| Manchester Capital Management LLC | 0.04% | No change | 9,050 | $306K |
| LVW Advisors, LLC | 0.03% | Reduce -30.9% | 9,033 | $305K |
| Mgo One Seven LLC | 0.00% | New | 8,824 | $298K |
| Triumph Capital Management | 0.05% | Add +4.8% | 8,673 | $293K |
| Abundance Wealth Counselors | 0.02% | New | 8,612 | $291K |
| Klingman & Associates, LLC | 0.01% | New | 8,547 | $289K |
| Insigneo Advisory Services, LLC | 0.01% | New | 8,540 | $288K |
| Andra AP-fonden | 0.00% | Reduce -96.9% | 9,658 | $286K |
| State Street Corp. | 0.00% | No change | 8,440 | $285K |
| Sage Rhino Capital LLC | 0.05% | Add +1.5% | 8,333 | $281K |
| Ascent Group, LLC | 0.01% | New | 8,187 | $276K |
| 71 West Capital Partners | 0.01% | New | 8,184 | $276K |
| Cornerstone Planning Group LLC | 0.03% | No change | 7,724 | $275K |
| Scotia Capital Inc. | 0.00% | No change | 8,125 | $274K |
| Brown Financial Advisors | 0.10% | Add +1.3% | 8,089 | $273K |
| OpenArc Corporate Advisory, LLC | 0.00% | Add +16.6% | 8,087 | $273K |
| Phoenix Financial Ltd. | 0.00% | No change | 8,100 | $273K |
| Five Oceans Advisors | 0.09% | No change | 8,029 | $271K |
| Magnus Financial Group LLC | 0.02% | No change | 8,028 | $271K |
| PDS Planning, Inc | 0.02% | Add +5.8% | 8,001 | $270K |
| Meridian Investment Counsel Inc. | 0.06% | No change | 8,000 | $270K |
| Smith, Moore & Co. | 0.02% | No change | 8,000 | $270K |
| Rehmann Capital Advisory Group | 0.01% | New | 7,849 | $265K |
| Traveka Wealth, LLC | 0.09% | Reduce -3.7% | 7,836 | $265K |
| Greenspring Advisors, LLC | 0.01% | New | 7,707 | $260K |
| Wedbush Securities Inc. | 0.01% | Reduce -0.7% | 7,497 | $253K |
| CenterStar Asset Management, LLC | 0.19% | New | 7,373 | $249K |
| Flputnam Investment Management Co. | 0.00% | Reduce -13.0% | 7,097 | $240K |
| West Family Investments, Inc. | 0.07% | New | 7,077 | $239K |
| Frec Markets, Inc. | 0.02% | New | 6,946 | $234K |
| Federation des caisses Desjardins du Quebec | 0.00% | Reduce -80.4% | 6,817 | $231K |
| Blue Trust, Inc. | 0.00% | Reduce -3.4% | 6,794 | $229K |
| Optas, LLC | 0.03% | New | 6,777 | $229K |
| Kestra Advisory Services, LLC | 0.00% | New | 6,763 | $228K |
| EverSource Wealth Advisors, LLC | 0.01% | Reduce -42.0% | 6,720 | $227K |
| Virtu Financial LLC | 0.01% | New | 6,647 | $224K |
| Basecamp Wealth Advisors LLC | 0.04% | No change | 6,615 | $223K |
| Institute for Wealth Management, LLC. | 0.02% | New | 6,533 | $221K |
| Legacy Financial Advisors, Inc. | 0.03% | Reduce -5.4% | 6,526 | $220K |
| Sava Infond d.o.o. | 0.02% | No change | 6,400 | $216K |
| Evolve Private Wealth, LLC | 0.01% | Reduce -17.4% | 6,374 | $215K |
| Independent Advisor Alliance | 0.01% | Reduce -10.0% | 6,360 | $215K |
| NewEdge Advisors, LLC | 0.00% | Reduce -32.1% | 6,358 | $215K |
| Arax Advisory Partners | 0.00% | Add +89.1% | 6,353 | $214K |
| Kingswood Wealth Advisors, LLC | 0.01% | New | 6,308 | $213K |
| Rakuten Securities, Inc. | 0.05% | Reduce -30.5% | 6,240 | $211K |
| Ground Swell Capital, LLC | 0.23% | New | 6,174 | $208K |
| Cromwell Holdings LLC | 0.09% | No change | 6,166 | $208K |
| Apollon Wealth Management, LLC | 0.00% | New | 6,161 | $208K |
| Bridgewater Advisors Inc. | 0.01% | New | 5,552 | $206K |
| Investors Research Corp | 0.04% | No change | 5,992 | $202K |
| Ellevest, Inc. | 0.02% | New | 5,941 | $201K |
| Level Four Advisory Services, LLC | 0.01% | New | 5,941 | $201K |
| Generali Investments CEE, investicni spolecnost, a.s. | 0.01% | Reduce -69.6% | 5,678 | $192K |
| Clearstead Advisors, LLC | 0.00% | Reduce -50.0% | 5,142 | $174K |
| Brown Brothers Harriman & Co. | 0.00% | Add +84.3% | 5,050 | $170K |
| Activest Wealth Management | 0.03% | No change | 5,000 | $169K |
| Evelyn Partners Group Ltd | 0.00% | — | 4,641 | $157K |
| Toth Financial Advisory Corp. | 0.01% | Reduce -38.0% | 4,400 | $149K |
| Rosenberg Matthew Hamilton | 0.03% | No change | 4,216 | $142K |
| Global Retirement Partners, LLC | 0.00% | — | 4,161 | $140K |
| SG Americas Securities, LLC | 0.00% | New | 3,486 | $118K |
| Allworth Financial LP | 0.00% | Reduce -28.1% | 3,346 | $113K |
| Towarzystwo Funduszy Inwestycyjnych Pzu SA | 0.03% | Add +26.0% | 3,150 | $106K |
| Thurston, Springer, Miller, Herd & Titak, Inc. | 0.04% | No change | 3,069 | $104K |
| Anchor Investment Management, LLC | 0.01% | No change | 3,000 | $101K |
| MassMutual Private Wealth & Trust, FSB | 0.00% | Add +0.5% | 2,615 | $88K |
| Advocate Investing Services LLC | 0.06% | No change | 2,400 | $81K |
| GHP Investment Advisors, Inc. | 0.00% | No change | 2,135 | $72K |
| Rothschild Investment LLC | 0.00% | Add +24.0% | 2,029 | $69K |
| Owl Creek Wealth Partners LLC | 0.02% | No change | 1,838 | $62K |
| Byrne Asset Management LLC | 0.03% | Reduce -9.2% | 1,720 | $58K |
| Larson Financial Group LLC | 0.00% | Add +286.4% | 1,650 | $56K |
| Ares Financial Consulting, LLC | 0.04% | No change | 1,600 | $54K |
| Founders Capital Management | 0.02% | No change | 1,500 | $51K |
| Intesa Sanpaolo Wealth Management | 0.01% | No change | 1,451 | $49K |
| Cary Street Partners Investment Advisory LLC | 0.01% | Add +24.4% | 1,380 | $47K |
| Harbour Investments, Inc. | 0.00% | Reduce -5.9% | 1,378 | $47K |
| TD Waterhouse Canada Inc. | 0.00% | Reduce -96.0% | 1,200 | $41K |
| TD Private Client Wealth LLC | 0.00% | Add +124.8% | 1,196 | $40K |
| Westside Investment Management, Inc. | 0.01% | No change | 1,186 | $40K |
| Zions Bancorporation, National Association | 0.00% | Reduce -26.9% | 1,133 | $38K |
| Meramec Financial Planners, LLC | 0.01% | No change | 1,000 | $36K |
| Fifth Third Bancorp | 0.00% | Reduce -1.4% | 1,008 | $34K |
| Salomon & Ludwin, LLC | 0.00% | Add +229.2% | 1,004 | $34K |
| Nisa Investment Advisors, LLC | 0.00% | Add +5.0% | 1,001 | $34K |
| Bessemer Group Inc. | 0.00% | No change | 950 | $32K |
| UMB Bank, n.a. | 0.00% | No change | 946 | $32K |
| Parkside Financial Bank & Trust | 0.00% | Add +12.8% | 941 | $32K |
| JFS Wealth Advisors, LLC | 0.00% | No change | 930 | $31K |
| True Wealth Design, LLC | 0.01% | Reduce -12.6% | 894 | $30K |
| GAMMA Investing LLC | 0.00% | Add +51.6% | 814 | $27K |
| Elequin Capital, LP | 0.00% | Reduce -42.3% | 705 | $24K |
| Ameritas Advisory Services, LLC | 0.00% | New | 690 | $23K |
| Robinswood Financial LLC | 0.01% | No change | 666 | $22K |
| Measured Wealth Private Client Group, LLC | 0.00% | Reduce -48.9% | 594 | $20K |
| WealthCollab, LLC | 0.01% | No change | 568 | $19K |
| Huntington National Bank | 0.00% | Add +20.7% | 536 | $18K |
| Bruce G. Allen Investments, LLC | 0.01% | Add +10.0% | 529 | $18K |
| Silver Grove Financial Group, Inc. | 0.01% | New | 523 | $18K |
| TFC Financial Management, Inc. | 0.00% | No change | 514 | $17K |
| Steigerwald, Gordon & Koch Inc. | 0.00% | No change | 500 | $17K |
| Financial Consulate, Inc. | 0.00% | Add +38.4% | 483 | $16K |
| First Command Advisory Services, Inc. | 0.00% | Add +1328.1% | 457 | $15K |
| J.Safra Asset Management Corp | 0.00% | Reduce -8.3% | 453 | $15K |
| Continuum Advisory, LLC | 0.00% | New | 418 | $14K |
| SJS Investment Consulting Inc. | 0.00% | Reduce -34.2% | 390 | $13K |
| GW&K Investment Management, LLC | 0.00% | No change | 344 | $12K |
| Key Financial Inc | 0.00% | Reduce -26.7% | 354 | $12K |
| Vision Financial Markets LLC | 0.01% | No change | 315 | $11K |
| Elevation Wealth Partners, LLC | 0.00% | New | 301 | $10K |
| Alerus Financial NA | 0.00% | No change | 300 | $10K |
| Synergy Investment Management, LLC | 0.00% | New | 269 | $10K |
| Fiduciary Financial Advisors | 0.00% | New | 265 | $9K |
| Steward Partners Investment Advisory, LLC | 0.00% | Reduce -49.1% | 249 | $8K |
| Stone House Investment Management, LLC | 0.00% | Add +2912.5% | 241 | $8K |
| Retirement Wealth Solutions LLC | 0.00% | Add +45.3% | 234 | $8K |
| WPG Advisers, LLC | 0.00% | Add +39.9% | 228 | $8K |
| Cornerstone Financial Management LLC | 0.01% | Add +152.2% | 227 | $8K |
| FWL Investment Management, LLC | 0.00% | No change | 223 | $8K |
| Private Trust Co. NA | 0.00% | Reduce -10.4% | 223 | $8K |
| BOK Financial Private Wealth, Inc. | 0.00% | New | 211 | $7K |
| Cape Investment Advisory, Inc. | 0.00% | New | 206 | $7K |
| Manning & Napier Advisors LLC | 0.00% | Add +1.0% | 203 | $7K |
| Bare Financial Services, Inc | 0.00% | Add +69.8% | 202 | $7K |
| Physician Wealth Advisors, Inc. | 0.00% | Add +86.7% | 196 | $7K |
| Creative Financial Designs Inc. | 0.00% | Reduce -54.2% | 192 | $6K |
| Bell Investment Advisors, Inc | 0.00% | No change | 191 | $6K |
| Arlington Trust Co LLC | 0.00% | No change | 191 | $6K |
| Raffa Wealth Management, LLC | 0.00% | Add +20.5% | 188 | $6K |
| FNY Investment Advisers, LLC | 0.00% | New | 200 | $6K |
| IMA Advisory Services, Inc. | 0.00% | Add +53.1% | 173 | $6K |
| Eastern Bank | 0.00% | New | 171 | $6K |
| Principia Wealth Advisory, LLC | 0.00% | Add +53.4% | 158 | $5K |
| Financial Management Professionals, Inc. | 0.00% | No change | 151 | $5K |
| Albion Financial Group | 0.00% | Reduce -17.1% | 145 | $5K |
| MV Capital Management, Inc. | 0.00% | New | 142 | $5K |
| SHP Wealth Management | 0.00% | Reduce -6.9% | 135 | $5K |
| MUFG Securities EMEA plc | 0.00% | Reduce -99.9% | 134 | $5K |
| CVA Family Office, LLC | 0.00% | No change | 134 | $5K |
| Penserra Capital Management LLC | 0.00% | No change | 120 | $4K |
| Rossby Financial, LCC | 0.00% | Add +35.6% | 118 | $4K |
| CoreCap Advisors, LLC | 0.00% | New | 118 | $4K |
| Strategic Wealth Partners, Ltd. | 0.00% | New | 114 | $4K |
| Kilter Group LLC | 0.00% | New | 105 | $4K |
| IFP Advisors, Inc | 0.00% | Reduce -95.9% | 105 | $4K |
| Gleason Group, Inc. | 0.00% | New | 104 | $4K |
| Flagship Wealth Advisors, LLC | 0.00% | New | 100 | $3K |
| American Capital Advisory, LLC | 0.00% | New | 99 | $3K |
| Entrust Financial LLC | 0.00% | No change | 95 | $3K |
| Ameriflex Group, Inc. | 0.00% | New | 92 | $3K |
| Plante Moran Financial Advisors, LLC | 0.00% | New | 91 | $3K |
| Lodestone Wealth Management LLC | 0.00% | No change | 90 | $3K |
| Abound Wealth Management | 0.00% | No change | 84 | $3K |
| Signature Equity Partners, LLC | 0.00% | No change | 78 | $3K |
| Kayne Anderson Rudnick Investment Management LLC | 0.00% | Reduce -99.7% | 78 | $3K |
| Aventura Private Wealth, LLC | 0.00% | New | 71 | $2K |
| Burk Holdings LLC | 0.00% | No change | 69 | $2K |
| Horizon Financial Services, LLC | 0.00% | New | 67 | $2K |
| CENTRAL TRUST Co | 0.00% | Reduce -9.5% | 67 | $2K |
| JNBA Financial Advisors | 0.00% | No change | 66 | $2K |
| Allied Private Wealth LLC | 0.00% | — | 59 | $2K |
| Sittner & Nelson, LLC | 0.00% | New | 61 | $2K |
| Kelleher Financial Advisors | 0.00% | New | 56 | $2K |
| Transamerica Financial Advisors, LLC | 0.00% | New | 54 | $2K |
| Keating Financial Advisory Services, Inc. | 0.00% | No change | 50 | $2K |
| Private Wealth Asset Management, LLC | 0.00% | No change | 49 | $2K |
| MidFirst Bank | 0.00% | No change | 41 | $1K |
| LRI Investments, LLC | 0.00% | New | 39 | $1K |
| Highland Investment Advisors LLC | 0.00% | — | 35 | $1K |
| Highline Wealth Partners LLC | 0.00% | Reduce -31.4% | 35 | $1K |
| St Germain D J Co. Inc. | 0.00% | No change | 34 | $1K |
| Phillip James Consulting Co. | 0.00% | No change | 33 | $1K |
| Quent Capital, LLC | 0.00% | New | 33 | $1K |
| Southern Michigan Bank & Trust | 0.00% | No change | 30 | $1K |
| Hantz Financial Services, Inc. | 0.00% | Reduce -76.0% | 24 | $1K |
| Cassaday & Co Wealth Management LLC | 0.00% | No change | 29 | $980 |
| Dogwood Wealth Management LLC | 0.00% | No change | 28 | $945 |
| Cullen/Frost Bankers, Inc. | 0.00% | New | 28 | $937 |
| Marshall Investment Management, LLC | 0.00% | New | 27 | $912 |
| Pacific Center for Financial Services | 0.00% | No change | 25 | $844 |
| Halbert Hargrove Global Advisors, LLC | 0.00% | New | 22 | $737 |
| Brown, Lisle/Cummings, Inc. | 0.00% | No change | 20 | $675 |
| Trust Co | 0.00% | No change | 18 | $608 |
| Asset Dedication, LLC | 0.00% | No change | 18 | $608 |
| Monetary Solutions, Ltd | 0.00% | New | 17 | $574 |
| Mather Group, Llc. | 0.00% | No change | 17 | $574 |
| North Star Investment Management Corp. | 0.00% | No change | 15 | $506 |
| TD Capital Management LLC | 0.00% | No change | 14 | $473 |
| Godfrey Financial Associates, Inc. | 0.00% | No change | 9 | $304 |
| Bogart Wealth, LLC | 0.00% | New | 7 | $236 |
| Decker Retirement Planning Inc. | 0.00% | New | 4 | $142 |
| Financial Gravity Companies, Inc. | 0.00% | — | 1 | $34 |
"% of holder's portfolio" is DB's weight in each manager's 13F, not the share of Deutsche Bank AG-Registered the manager owns.