Deutsche Bank Portfolio holdings

AUM $271B

1-Year Return 23.01%

Deutsche Bank AG, founded in 1870 to finance German exports and headquartered in Frankfurt, Germany, is a leading global investment bank with a significant presence in commercial banking, wealth management, and asset management, managing billions in assets across Europe, the Americas, and Asia. Known for its expertise in trading, corporate finance, and mergers and acquisitions, it serves corporations, governments, and institutional clients, though it has faced challenges, including hefty fines and restructuring efforts following the 2008 financial crisis and subsequent scandals. Under CEO Christian Sewing since 2018, the bank has shifted focus toward cost-cutting, digital transformation, and strengthening its core European operations, while its asset management arm, DWS, oversees hundreds of billions in investments. Despite a turbulent past, Deutsche Bank remains a key player in global finance, balancing its legacy with efforts to adapt to a rapidly evolving industry.

2025 Q2 2025 Q1 2024 Q4 2024 Q3 2024 Q2 2024 Q1 2023 Q4 2023 Q3 2023 Q2 2023 Q1 2022 Q4 2022 Q3 2022 Q2 2022 Q1 2021 Q4 2021 Q3 2021 Q2 2021 Q1 2020 Q4 2020 Q3 2020 Q2 2020 Q1 2019 Q4 2019 Q3 2019 Q2 2019 Q1 2018 Q4 2018 Q3 2018 Q2 2018 Q1 2017 Q4 2017 Q3 2017 Q2 2017 Q1 2016 Q4 2016 Q3 2016 Q2 2016 Q1 2015 Q4 2015 Q3 2015 Q2 2015 Q1 2014 Q4 2014 Q3 2014 Q2 2014 Q1 2013 Q4 2013 Q3 2013 Q2

This Quarter Return

+6.8%

1 Year Return

+23.01%

3 Year Return

+90.62%

5 Year Return

+171.03%

10 Year Return

+392.19%

AUM

$198B

AUM Growth

-$3.01B (-1.5%)

Cap. Flow

-$15.5B

Cap. Flow % of AUM

-7.87%

Top 10 Holdings % Top 10 Hldgs %

13.47%

Holding

5,262

New

279

Increased

1,872

Reduced

2,419

Closed

251

Top Buys

1	AT&T T	+$490M
2	RTX Corp RTX	+$472M
3	Intel INTC	+$301M
4	Alphabet (Google) Class C GOOG	+$291M
5	Wells Fargo WFC	+$280M

Top Sells

1	SPDR S&P 500 ETF Trust SPY	+$1.56B
2	Advanced Micro Devices AMD	+$445M
3	Microsoft MSFT	+$438M
4	Apple AAPL	+$400M
5	Charter Communications CHTR	+$382M

Sector Composition

1	Technology	15.99%
2	Financials	13.74%
3	Healthcare	13.41%
4	Consumer Discretionary	9.19%
5	Communication Services	8.45%

Communication Services

Advertising Agencies

Broadcasting

Electronic Gaming & Multimedia

Entertainment

Internet Content & Information

Publishing

Telecom Services

Consumer Discretionary

Apparel Manufacturing

Apparel Retail

Auto Manufacturers

Auto Parts

Auto & Truck Dealerships

Department Stores

Footwear & Accessories

Furnishings, Fixtures & Appliances

Gambling

Home Improvement Retail

Internet Retail

Leisure

Lodging

Luxury Goods

Packaging & Containers

Personal Services

Recreational Vehicles

Residential Construction

Resorts & Casinos

Restaurants

Specialty Retail

Textile Manufacturing

Travel Services

Consumer Staples

Beverages - Brewers

Beverages - Non-Alcoholic

Beverages - Wineries & Distilleries

Confectioners

Discount Stores

Education & Training Services

Farm Products

Food Distribution

Grocery Stores

Household & Personal Products

Packaged Foods

Tobacco

Energy

Oil & Gas Drilling

Oil & Gas Equipment & Services

Oil & Gas Exploration & Production

Oil & Gas Integrated

Oil & Gas Midstream

Oil & Gas Refining & Marketing

Thermal Coal

Uranium

Financials

Asset Management

Banks - Diversified

Banks - Regional

Capital Markets

Credit Services

Diversified Insurance

Financial Conglomerates

Financial Data & Stock Exchanges

Insurance Brokers

Life Insurance

Mortgage Finance

Property & Casualty Insurance

Reinsurance

Shell Companies

Specialty - Insurance

Healthcare

Biotechnology

Diagnostics & Research

Drug Manufacturers - General

Drug Manufacturers - Specialty & Generic

Healthcare Plans

Health Information Services

Medical Care Facilities

Medical Devices

Medical Distribution

Medical Instruments & Supplies

Pharmaceutical Retailers

Industrials

Aerospace & Defense

Airlines

Airports & Air Services

Building Products & Equipment

Business Equipment & Supplies

Conglomerates

Consulting Services

Electrical Equipment & Parts

Engineering & Construction

Farm & Heavy Construction Machinery

Industrial Distribution

Infrastructure Operations

Integrated Freight & Logistics

Marine Shipping

Metal Fabrication

Pollution & Treatment Controls

Railroads

Rental & Leasing Services

Security & Protection Services

Specialty Business Services

Specialty Industrial Machinery

Staffing & Employment Services

Tools & Accessories

Trucking

Waste Management

Materials

Agricultural Inputs

Aluminum

Building Materials

Chemicals

Coking Coal

Copper

Gold

Lumber & Wood Production

Other Industrial Metals & Mining

Other Precious Metals & Mining

Paper & Paper Products

Silver

Specialty Chemicals

Steel

Real Estate

Diversified REIT

Healthcare Facilities REIT

Hotel & Motel REIT

Industrial REIT

Mortgage REIT

Office REIT

Real Estate Development

Real Estate Diversified

Real Estate Services

Residential REIT

Retail REIT

Specialty REIT

Technology

Communication Equipment

Computer Hardware

Consumer Electronics

Electronic Components

Electronics & Computer Distribution

Information Technology Services

Scientific & Technical Instruments

Semiconductor Equipment & Materials

Semiconductors

Software - Application

Software - Infrastructure

Solar

Utilities

Diversified Utilities

Electric Utilities

Gas Utilities

Independent Power Producers

Renewable Electricity

Water Utilities

#	Name	Market Value	Portfolio Weight	Shares or Principal	Shares Change %	Capital Flow
1051	SYNT 1051 DELISTED Syntel Inc SYNT	$22.1M	0.01%	539,985 -129,725	-19%	-$5.32M
1052	ECHO 1052 DELISTED Echo Global Logistics, Inc. ECHO	$22.1M	0.01%	712,440 -99,544	-12%	-$3.08M
1053	WMGI 1053 DELISTED Wright Medical Group Inc WMGI	$22M	0.01%	759,673 -1,463,675	-66%	-$42.5M
1054	TEN 1054 DELISTED Tenneco Inc. Class A Voting Common Stock TEN	$22M	0.01%	521,158 +776	+0.1%	+$32.7K
1055	1055 Insulet PODD $24.1B	$21.9M	0.01%	206,915 +6,454	+3%	+$684K
1056	VER 1056 DELISTED VEREIT, Inc. VER	$21.9M	0.01%	602,828 -169,249	-22%	-$6.14M
1057	1057 Rollins ROL $27.8B	$21.9M	0.01%	810,295 +159,219	+24%	+$4.29M
1058	1058 AXIS Capital AXS $7.75B	$21.8M	0.01%	378,400 +54,802	+17%	+$3.16M
1059	1059 Novartis NVS $240B	$21.8M	0.01%	282,332 -433,251	-61%	-$33.4M
1060	1060 Quanta Services PWR $57B	$21.8M	0.01%	651,667 -268,642	-29%	-$8.97M
1061	IMMU 1061 DELISTED Immunomedics Inc IMMU	$21.7M	0.01%	1,042,142 +707,748	+212%	+$14.7M
1062	SFLY 1062 DELISTED Shutterfly, Inc. SFLY	$21.7M	0.01%	329,457 -807,963	-71%	-$53.2M
1063	1063 Q2 Holdings QTWO $5.13B	$21.6M	0.01%	357,357 +77,306	+28%	+$4.68M
1064	ATH 1064 DELISTED Athene Holding Ltd. Class A Common Shares ATH	$21.6M	0.01%	417,804 +20,904	+5%	+$1.08M
1065	SAIL 1065 DELISTED SailPoint Technologies Holdings, Inc. Common Stock SAIL	$21.6M	0.01%	633,605 +514,495	+432%	+$17.5M
1066	1066 Brighthouse Financial BHF $2.8B	$21.5M	0.01%	486,700 -17,108	-3%	-$757K
1067	AAWW 1067 DELISTED Atlas Air Worldwide Holdings, Inc. AAWW	$21.5M	0.01%	337,424 +42,036	+14%	+$2.68M
1068	1068 ASGN Inc ASGN $2.26B	$21.5M	0.01%	272,404 +65,693	+32%	+$5.19M
1069	1069 Ziff Davis ZD $1.5B	$21.5M	0.01%	298,387 -134,533	-31%	-$9.69M
1070	1070 Semtech SMTC $5.23B	$21.5M	0.01%	385,934 +80,990	+27%	+$4.5M
1071	APTI 1071 DELISTED Apptio, Inc. Class A Common Stock APTI	$21.4M	0.01%	580,095 +221,380	+62%	+$8.18M
1072	1072 Vanguard Information Technology ETF VGT $103B	$21.4M	0.01%	105,755 +5,122	+5%	+$1.04M
1073	1073 Watts Water Technologies WTS $9.39B	$21.4M	0.01%	257,405 +5,446	+2%	+$452K
1074	SEND 1074 DELISTED SendGrid, Inc. SEND	$21.3M	0.01%	580,007 +550,260	+1,850%	+$20.2M
1075	1075 Encompass Health EHC $12.7B	$21.3M	0.01%	343,898 -114,869	-25%	-$7.12M