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

+6.56%

1 Year Return

+23.01%

3 Year Return

+90.62%

5 Year Return

+171.03%

10 Year Return

+392.19%

AUM

$135B

AUM Growth

+$13.5B (+11%)

Cap. Flow

+$3.57B

Cap. Flow % of AUM

2.64%

Top 10 Holdings % Top 10 Hldgs %

12.75%

Holding

5,681

New

480

Increased

2,922

Reduced

1,456

Closed

235

Top Buys

1	SPDR S&P 500 ETF Trust SPY	+$808M
2	Invesco QQQ Trust QQQ	+$652M
3	Alphabet (Google) Class C GOOG	+$648M
4	DELL DELL INC DELL	+$383M
5	McDonald's MCD	+$383M

Top Sells

1	eBay EBAY	+$1.3B
2	Apple AAPL	+$729M
3	Consumer Discretionary Select Sector SPDR Fund XLY	+$695M
4	SPDR S&P Retail ETF XRT	+$476M
5	Pfizer PFE	+$448M

Sector Composition

1	Healthcare	11.13%
2	Financials	10.57%
3	Energy	10.13%
4	Technology	9.81%
5	Consumer Discretionary	8.62%

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
1201	SD 1201 DELISTED SANDRIDGE ENERGY, INC. SD	$11.4M	0.01%	1,938,043 +1,290,785	+199%	+$7.56M
1202	1202 iShares S&P 500 Value ETF IVE $40.8B	$11.3M	0.01%	144,850 +98,322	+211%	+$7.7M
1203	FLIR 1203 DELISTED FLIR Systems, Inc. (DE) Common Stock FLIR	$11.3M	0.01%	361,174 -464,653	-56%	-$14.6M
1204	1204 Thor Industries THO $5.66B	$11.3M	0.01%	194,972 +145,018	+290%	+$8.42M
1205	1205 Middleby MIDD $6.99B	$11.3M	0.01%	162,441 +17,562	+12%	+$1.22M
1206	ROSE 1206 DELISTED ROSETTA RESOURCES INC ROSE	$11.3M	0.01%	207,534 -101,909	-33%	-$5.55M
1207	1207 Harmony Gold Mining HMY $9.62B	$11.3M	0.01%	3,343,539 +1,918,308	+135%	+$6.48M
1208	1208 Dolby DLB $6.8B	$11.3M	0.01%	327,369 +315,187	+2,587%	+$10.9M
1209	CATM 1209 DELISTED Cardtronics plc Class A Ordinary Shares (UK) CATM	$11.3M	0.01%	304,410 +130,422	+75%	+$4.84M
1210	TWTC 1210 DELISTED TW TELECOM INC CL A COM TWTC	$11.3M	0.01%	378,106 +22,626	+6%	+$676K
1211	1211 ATI ATI $10.5B	$11.3M	0.01%	369,759 -114,554	-24%	-$3.5M
1212	CVD 1212 DELISTED COVANCE INC. CVD	$11.3M	0.01%	130,484 -89,919	-41%	-$7.77M
1213	1213 Magna International MGA $12.9B	$11.3M	0.01%	273,054 +123,338	+82%	+$5.09M
1214	1214 Timken Company TKR $5.32B	$11.3M	0.01%	260,613 +87,416	+50%	+$3.78M
1215	RDC 1215 DELISTED Rowan Companies Plc RDC	$11.3M	0.01%	306,748 -193,089	-39%	-$7.09M
1216	CLGX 1216 DELISTED Corelogic, Inc. CLGX	$11.2M	0.01%	415,440 -157,269	-27%	-$4.25M
1217	1217 Prestige Consumer Healthcare PBH $3.2B	$11.2M	0.01%	371,295 +244,812	+194%	+$7.37M
1218	1218 Cenovus Energy CVE $30.7B	$11.1M	0.01%	373,524 -273,681	-42%	-$8.17M
1219	1219 Vanguard Total World Stock ETF VT $52.3B	$11.1M	0.01%	200,616 +115,557	+136%	+$6.42M
1220	CLC 1220 DELISTED Clarcor CLC	$11.1M	0.01%	200,455 +142,485	+246%	+$7.91M
1221	NS 1221 DELISTED NuStar Energy L.P. NS	$11.1M	0.01%	275,806 +263,151	+2,079%	+$10.6M
1222	1222 MidCap Financial Investment MFIC $1.17B	$11.1M	0.01%	452,424 -96,373	-18%	-$2.36M
1223	1223 Jazz Pharmaceuticals JAZZ $7.7B	$11.1M	0.01%	120,207 -124,767	-51%	-$11.5M
1224	1224 Aecom ACM $16.6B	$11.1M	0.01%	353,450 +41,295	+13%	+$1.29M
1225	1225 KB Home KBH $4.46B	$11M	0.01%	612,655 +256,540	+72%	+$4.62M