Who owns Porsche in 2025? A look at Porsche SE and Porsche AG shareholders
In this article, we examine who holds the largest positions in each company, how ownership is structured, and recent developments.
Porsche remains one of Europe’s best-known automotive brands and one of the most closely followed names among investors. Since its record-breaking 2022 initial public offering (IPO), interest in both Porsche AG (P911) and Porsche Automobil Holding SE (PAH3) has continued to attract market attention.
Although the two companies share a name, they serve different purposes: Porsche AG manufactures the company’s iconic sports cars, while Porsche SE is a family-controlled holding company with major stakes in Volkswagen and Porsche AG.
Why there are two Porsches
Porsche SE was established in 2007 as a European holding company, primarily serving as an investment vehicle for the Porsche and Piëch families. It controls 53.3% of Volkswagen AG, which in turn holds a majority stake in Porsche AG. This structure enables the founding families to maintain strategic control across both entities.
Porsche SE shares trade on the Frankfurt Stock Exchange under the ticker PAH3. Its American Depositary Shares (ADS) trade over the counter in the US under POAHY, with each ADS representing one-tenth of an ordinary share.
Meanwhile, Porsche AG (P911) is the operating company responsible for producing luxury and performance vehicles. The firm listed its preferred shares in 2022, while ordinary shares remain controlled by Volkswagen AG and Porsche SE.
Who owns the most Porsche SE (PAH3) shares?
Porsche SE’s ownership is divided between ordinary (voting) and preferred (non-voting) shares. The Porsche and Piëch families collectively hold all ordinary shares through their investment entities, while preferred shares are traded publicly and mostly held by institutional investors and mutual funds.
Porsche SE ownership overview
The table below summarises how Porsche SE’s shareholding is distributed among institutional investors, funds, and individual shareholders.
| Type | Common stock held | % of Shares outstanding | Market value (USD) |
|---|---|---|---|
| Mutual funds & ETFs | 26.08m | 8.52% | 951.1m |
| Other institutional investors | 153.75m | 50.20% | 5.61bn |
| Public companies & retail investors | 126.42m | 41.28% | 4.61bn |
| Total | 306.25m | 100.00% | 11.17bn |
This structure shows that institutional ownership dominates, though individual investors also account for a significant portion of the free float.
Largest institutional shareholders of Porsche SE
The following table lists the largest institutional holders of Porsche SE shares, based on their most recent reported filings.
| # | Holder | % of holding | Shares held | Value (in 1,000s USD) |
|---|---|---|---|---|
| 1 | Familie Porsche Beteiligung GmbH | 50.00% | 153.13m | 5.71m |
| 2 | BlackRock, Inc. | 2.54% | 7.77m | 289,598 |
| 3 | FMR LLC (Fidelity) | 0.83% | 2.55m | 94,986 |
| 4 | Norges Bank Investment Management | 0.83% | 2.54m | 94,828 |
| 5 | Deka Investment GmbH | 0.50% | 1.54m | 57,264 |
These institutions manage assets on behalf of clients and may not be the ultimate beneficial owners of the shares.
Largest mutual fund holders of Porsche SE
Below are the largest mutual fund investors in Porsche SE, reflecting the company’s appeal to long-term institutional portfolios.
| # | Holder | % of holding | Shares held | Value (in 1,000s USD) |
|---|---|---|---|---|
| 1 | Government Pension Fund Global | 0.83% | 2.54m | 94,828 |
| 2 | iShares International Select Dividend ETF | 0.38% | 1.16m | 43,314 |
| 3 | iShares Core MSCI EAFE ETF | 0.34% | 1.04m | 38,935 |
Mutual fund exposure remains relatively modest, though these investors contribute to steady liquidity in the preferred share market.
Source: Investing.com, 13 November 2025
Past performance is not a reliable indicator of future results.
Who owns the most Porsche AG (P911) shares?
Porsche AG, the automaker, has a distinct shareholder base. Its ordinary shares are tightly held–Volkswagen AG owns 75% minus one share, while Porsche SE owns 25% plus one share. The company’s preferred shares, listed on the Frankfurt Stock Exchange, are available for public trading.
Ownership overview
The table below outlines Porsche AG’s shareholder structure, distinguishing between institutional, fund, and retail holdings.
| Type | Common stock held | % of shares outstanding | Market value (USD) |
|---|---|---|---|
| Mutual funds & ETFs | 27.88m | 3.06% | 1.31bn |
| Other institutional investors | 911.57m | 96.94% | 42.73bn |
| Total | 939.45m | 100.00% | 44.03bn |
These figures confirm the concentrated nature of Porsche AG’s ownership, reflecting its continued control under Volkswagen Group.
Largest institutional shareholders of Porsche AG
Here are the ten largest institutional investors in Porsche AG, based on recent regulatory filings.
| # | Holder | % of holding | Shares held | Value (in 1,000s USD) |
|---|---|---|---|---|
| 1 | Porsche Automobil Holding SE | 100.00% | 911m | 42.7m |
| 2 | Norges Bank Investment Management | 0.68% | 6.16m | 288,503 |
| 3 | BlackRock, Inc. | 0.52% | 4.71m | 220,958 |
| 4 | Capital Research and Management Company | 0.40% | 3.65m | 171,266 |
| 5 | Deutsche Asset & Wealth Management | 0.37% | 3.39m | 158,749 |
Institutional investment in Porsche AG remains relatively limited, reflecting the strong influence of its parent entities.
Source: Investing.com, 13 November 2025.
Past performance is not a reliable indicator of future results.
Porsche in 2025: corporate developments
In 2025, Porsche introduced the Porsche Card in Germany and announced plans to extend the service across Europe. It also opened its first Porsche Driving Center in Mexico, highlighting the company’s growing presence in Latin America.
Porsche AG reported an operating loss of €967m in the third quarter of 2025, largely due to weaker sales in China and a more cautious approach to its electric vehicle (EV) expansion.
Management indicated that 2025 could mark a financial low point, with restructuring measures in progress and a gradual recovery expected from 2026.
In response to heightened competition from Chinese EV producers and more subdued demand in the luxury segment, the company has placed greater emphasis on hybrid and internal-combustion models.
Key takeaways
Porsche’s ownership remains concentrated among the founding families, maintaining control through Porsche SE’s voting shares and its influence within the Volkswagen Group structure. Institutional investors hold a smaller proportion of the preferred shares in both Porsche SE and Porsche AG, highlighting continued global interest in the brand.
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FAQ
How many Porsche shares are there?
Porsche Automobil Holding SE has 153,125,000 ordinary shares and the same number of preferred shares. The ordinary shares, all owned by the Porsche and Piëch families, carry full voting rights. Preferred shares trade publicly on the Frankfurt Stock Exchange (PAH3) and over the counter in the US (POAHY). They offer the same economic interest but no control over corporate decisions, giving investors financial exposure while the founding families retain strategic authority.
How many shareholders does Porsche have?
All voting shares in Porsche SE are held by the Porsche and Piëch families. Most preferred shares are owned by institutional investors such as asset managers and pension funds, while private investors–mainly in Germany–hold the remainder. This mix keeps control with the founding families but allows broader participation in Porsche’s financial performance.
Who owns the Porsche company?
The Porsche and Piëch families ultimately control Porsche Automobil Holding SE, which owns 53.3% of Volkswagen AG. Volkswagen, in turn, holds 75% minus one share of Porsche AG’s ordinary shares, while Porsche SE owns 25% plus one share. This cross-shareholding keeps family influence at the centre of both businesses.
Can you trade Porsche shares as CFDs?
Yes. Porsche SE (PAH3) and Porsche AG (P911) shares can be traded as contracts for difference (CFDs) on regulated platforms such as Capital.com. CFDs allow traders to speculate on price movements without owning the underlying shares, taking positions on both rising and falling markets. However, CFDs are traded on margin – leverage amplifies profits and losses. Always ensure you understand how CFDs work and consider whether you can afford the associated risks before trading.