Below, a list of constituents for EXSE (iShares STOXX Europe Small 200 UCITS ETF (DE)) is shown. In total, EXSE consists of 214 securities.
Note: The data shown here is as of date Apr. 23, 2026 (the latest that can be sourced directly from the fund provider).
Click here to go back to the full list of ETFs.
| Emittententicker | Name | Sektor | Marktwert | Gewichtung (%) | Kurs |
| AED | AEDIFICA NV | Immobilien | 5.366.612,90 | 91.0 | 73,70 |
| EUR | EUR CASH | Cash und/oder Derivate | 5.201.035,62 | 89.0 | 100,00 |
| IGG | IG GROUP HOLDINGS PLC | Financials | 5.191.563,06 | 88.0 | 17,73 |
| NDX1 | NORDEX | Industrie | 4.922.935,60 | 84.0 | 45,10 |
| RBI | RAIFFEISEN BANK INTERNATIONAL AG | Financials | 4.898.682,60 | 83.0 | 43,96 |
| SPM | SAIPEM | Energie | 4.794.480,72 | 82.0 | 4,17 |
| AIXA | AIXTRON | IT | 4.618.037,34 | 79.0 | 46,62 |
| SCR | SCOR | Financials | 4.554.167,08 | 78.0 | 32,42 |
| SAVE | NORDNET | Financials | 4.504.723,88 | 77.0 | 30,45 |
| NEX | NEXANS SA | Industrie | 4.427.327,00 | 75.0 | 135,50 |
| AMUN | AMUNDI SA | Financials | 4.401.782,25 | 75.0 | 77,25 |
| ALSYDB | AL SYDBANK | Financials | 4.371.265,49 | 74.0 | 73,80 |
| JYSK | JYSKE BANK | Financials | 4.271.618,78 | 73.0 | 120,77 |
| CDR | CD PROJEKT SA | Kommunikation | 4.216.304,11 | 72.0 | 69,05 |
| VOE | VOESTALPINE AG | Materialien | 4.201.745,40 | 72.0 | 43,30 |
| GALE | GALENICA AG | Gesundheitsversorgung | 4.197.079,16 | 71.0 | 96,22 |
| NDA | AURUBIS AG | Materialien | 4.192.732,00 | 71.0 | 193,00 |
| SSAB B | SSAB CLASS B | Materialien | 4.178.775,37 | 71.0 | 7,84 |
| IDR | INDRA SISTEMAS SA | IT | 4.147.470,00 | 71.0 | 54,00 |
| SB1NO | SPAREBANK SR-NORGE | Financials | 4.134.127,90 | 70.0 | 19,79 |
| BBY | BALFOUR BEATTY PLC | Industrie | 4.105.829,33 | 70.0 | 9,55 |
| BGEO | LION FINANCE GROUP PLC | Financials | 4.082.214,52 | 70.0 | 129,83 |
| BLND | BRITISH LAND REIT PLC | Immobilien | 4.039.870,19 | 69.0 | 4,58 |
| SBMO | SBM OFFSHORE NV | Energie | 4.038.762,56 | 69.0 | 35,56 |
| ELIS | ELIS SA | Industrie | 4.037.606,64 | 69.0 | 26,28 |
| GJF | GJENSIDIGE FORSIKRING | Financials | 3.981.397,97 | 68.0 | 24,17 |
| ABDN | ABERDEEN GROUP PLC | Financials | 3.959.184,90 | 67.0 | 2,46 |
| TEMN | TEMENOS AG | IT | 3.958.892,73 | 67.0 | 87,39 |
| LAGR B | LAGERCRANTZ GROUP CLASS B | IT | 3.910.944,21 | 67.0 | 22,41 |
| ANDR | ANDRITZ AG | Industrie | 3.894.978,50 | 66.0 | 68,50 |
| ISS | ISS A S | Industrie | 3.888.235,61 | 66.0 | 30,88 |
| TUB | FINANCIERE DE TUBIZE SA | Gesundheitsversorgung | 3.870.053,00 | 66.0 | 209,00 |
| TKA | THYSSENKRUPP AG | Materialien | 3.801.482,88 | 65.0 | 8,84 |
| EVK | EVONIK INDUSTRIES AG | Materialien | 3.800.344,28 | 65.0 | 17,48 |
| AZA | AVANZA BANK HOLDING | Financials | 3.767.847,21 | 64.0 | 34,29 |
| AZM | AZIMUT HOLDING | Financials | 3.704.134,32 | 63.0 | 37,47 |
| CAST | CASTELLUM | Immobilien | 3.699.920,20 | 63.0 | 11,60 |
| VEND | VEND MARKETPLACES ASA | Kommunikation | 3.649.597,36 | 62.0 | 23,88 |
| FRO | FRONTLINE PLC | Energie | 3.637.329,97 | 62.0 | 29,06 |
| VK | VALLOUREC SA | Energie | 3.631.549,56 | 62.0 | 24,59 |
| BMED | BANCA MEDIOLANUM | Financials | 3.590.960,10 | 61.0 | 18,52 |
| ENT | ENTAIN PLC | Zyklische Konsumgüter | 3.584.745,84 | 61.0 | 6,87 |
| INVP | INVESTEC PLC | Financials | 3.584.691,60 | 61.0 | 7,38 |
| LOTB | LOTUS BAKERIES NV | Nichtzyklische Konsumgüter | 3.570.000,00 | 61.0 | 10.000,00 |
| ALK B | ALK-ABELLO CLASS B | Gesundheitsversorgung | 3.557.869,26 | 61.0 | 30,62 |
| EDPR | EDP RENOVAVEIS SA | Versorger | 3.542.451,66 | 60.0 | 13,53 |
| ENG | ENAGAS SA | Versorger | 3.526.323,20 | 60.0 | 16,96 |
| RMV | RIGHTMOVE PLC | Kommunikation | 3.519.565,68 | 60.0 | 5,21 |
| JMAT | JOHNSON MATTHEY PLC | Materialien | 3.504.743,20 | 60.0 | 23,89 |
| HUBN | HUBER & SUHNER AG | Industrie | 3.501.169,72 | 60.0 | 249,00 |
| AKE | ARKEMA SA | Materialien | 3.497.721,40 | 60.0 | 61,90 |
| DIE | DIETEREN (D) SA | Zyklische Konsumgüter | 3.478.140,00 | 59.0 | 180,00 |
| INPST | INPOST SA | Industrie | 3.464.992,00 | 59.0 | 15,20 |
| BBOX | TRITAX BIG BOX REIT PLC | Immobilien | 3.457.440,67 | 59.0 | 1,79 |
| SYENS | SYENSQO NV | Materialien | 3.447.031,95 | 59.0 | 55,35 |
| AYV | AYVENS SA | Industrie | 3.446.504,34 | 59.0 | 11,14 |
| GETI B | GETINGE B | Gesundheitsversorgung | 3.428.098,20 | 58.0 | 18,20 |
| MAP | MAPFRE SA | Financials | 3.376.230,86 | 58.0 | 4,19 |
| CPR | DAVIDE CAMPARI MILANO NV | Nichtzyklische Konsumgüter | 3.346.525,41 | 57.0 | 6,33 |
| LUND B | LUNDBERGFORETAGEN CLASS B | Financials | 3.323.293,82 | 57.0 | 51,99 |
| BCVN | BC VAUD N | Financials | 3.317.413,31 | 57.0 | 133,71 |
| BZU | BUZZI | Materialien | 3.308.627,04 | 56.0 | 47,94 |
| MYCR | MYCRONIC | IT | 3.306.919,11 | 56.0 | 24,97 |
| VAR | VAR ENERGI | Energie | 3.302.215,45 | 56.0 | 4,10 |
| ZEG | ZEGONA COMMUNICATIONS PLC | Kommunikation | 3.279.872,31 | 56.0 | 20,87 |
| SALM | SALMAR | Nichtzyklische Konsumgüter | 3.267.556,17 | 56.0 | 49,51 |
| MBK | MBANK SA | Financials | 3.257.029,40 | 55.0 | 283,07 |
| A2A | A2A | Versorger | 3.253.649,63 | 55.0 | 2,39 |
| SOF | SOFINA SA | Financials | 3.251.810,40 | 55.0 | 223,40 |
| SIGN | SIG GROUP N AG | Materialien | 3.204.514,28 | 55.0 | 12,26 |
| SECT B | SECTRA CLASS B | Gesundheitsversorgung | 3.189.869,08 | 54.0 | 25,12 |
| VALMT | VALMET CORP | Industrie | 3.188.896,92 | 54.0 | 25,08 |
| ITV | ITV PLC | Kommunikation | 3.185.837,08 | 54.0 | 0,94 |
| PLUS | PLUS500 LTD | Financials | 3.180.668,34 | 54.0 | 51,98 |
| ALLN | ALLREAL HOLDING AG | Immobilien | 3.157.321,69 | 54.0 | 234,83 |
| SW | SODEXO SA | Zyklische Konsumgüter | 3.062.720,92 | 52.0 | 42,28 |
| EMG | MAN GROUP PLC | Financials | 3.057.395,58 | 52.0 | 3,05 |
| GBF | BILFINGER | Industrie | 3.049.747,00 | 52.0 | 106,30 |
| SFZN | SIEGFRIED HOLDING AG | Gesundheitsversorgung | 3.047.753,03 | 52.0 | 88,27 |
| GL9 | GLANBIA PLC | Nichtzyklische Konsumgüter | 3.018.543,00 | 51.0 | 17,25 |
| GFC | GECINA SA | Immobilien | 3.006.191,40 | 51.0 | 72,20 |
| BKW | BKW N AG | Versorger | 2.988.210,97 | 51.0 | 174,03 |
| SRP | SERCO GROUP PLC | Industrie | 2.972.451,67 | 51.0 | 3,39 |
| RAA | RATIONAL AG | Industrie | 2.962.527,50 | 50.0 | 663,50 |
| DRX | DRAX GROUP PLC | Versorger | 2.961.402,35 | 50.0 | 10,02 |
| CMBN | CEMBRA MONEY BANK AG | Financials | 2.957.398,35 | 50.0 | 113,00 |
| BOL | BOLLORE | Energie | 2.951.350,56 | 50.0 | 5,13 |
| VSURE | VERISURE PLC | Industrie | 2.946.944,68 | 50.0 | 11,26 |
| INCH | INCHCAPE PLC | Zyklische Konsumgüter | 2.941.077,90 | 50.0 | 9,38 |
| WPP | WPP PLC | Kommunikation | 2.928.708,99 | 50.0 | 3,08 |
| HER | HERA | Versorger | 2.921.887,32 | 50.0 | 4,14 |
| UMI | UMICORE SA | Materialien | 2.919.179,56 | 50.0 | 17,38 |
| CVC | CVC CAPITAL PARTNERS PLC | Financials | 2.913.399,46 | 50.0 | 13,18 |
| CWK | CRANSWICK PLC | Nichtzyklische Konsumgüter | 2.913.356,79 | 50.0 | 61,75 |
| ING | ING BANK SLASKI SA | Financials | 2.912.726,65 | 50.0 | 102,39 |
| RS1 | RS GROUP PLC | Industrie | 2.905.658,45 | 49.0 | 7,06 |
| SUNN | SUNRISE N CLASS A LTD | Kommunikation | 2.892.375,59 | 49.0 | 49,36 |
| TEP | TELEPERFORMANCE | Industrie | 2.882.885,12 | 49.0 | 55,04 |
| BGN | BANCA GENERALI | Financials | 2.838.596,20 | 48.0 | 56,05 |
| FTK | FLATEXDEGIRO N | Financials | 2.830.717,26 | 48.0 | 36,54 |
| AXFO | AXFOOD | Nichtzyklische Konsumgüter | 2.822.076,17 | 48.0 | 29,88 |
| AAF | AIRTEL AFRICA PLC | Kommunikation | 2.808.668,11 | 48.0 | 4,16 |
| TPRO | TECHNOPROBE SPA | IT | 2.806.319,13 | 48.0 | 17,79 |
| FNTN | FREENET AG | Kommunikation | 2.787.804,00 | 47.0 | 27,00 |
| MANTA | MANDATUM | Financials | 2.782.906,05 | 47.0 | 7,14 |
| KGX | KION GROUP AG | Industrie | 2.766.190,68 | 47.0 | 45,18 |
| ROR | ROTORK PLC | Industrie | 2.759.312,85 | 47.0 | 3,84 |
| LATO B | LATOUR INVESTMENT CLASS B | Industrie | 2.756.294,32 | 47.0 | 21,73 |
| TUI1 | TUI N AG | Zyklische Konsumgüter | 2.751.268,92 | 47.0 | 6,95 |
| VATN | VALIANT HOLDING AG | Financials | 2.734.461,32 | 47.0 | 197,89 |
| COV | COVIVIO SA | Immobilien | 2.731.495,65 | 47.0 | 57,55 |
| MOBN | MOBIMO HOLDING AG | Immobilien | 2.722.013,78 | 46.0 | 417,36 |
| ADP | AEROPORTS DE PARIS SA | Industrie | 2.701.129,00 | 46.0 | 109,00 |
| CSG | CSG CLASS A NV | Industrie | 2.699.909,85 | 46.0 | 20,31 |
| UNI | UNICAJA BANCO SA | Financials | 2.677.313,64 | 46.0 | 2,73 |
| CCL | CARNIVAL PLC | Zyklische Konsumgüter | 2.675.478,24 | 46.0 | 23,27 |
| ZAB | ZABKA GROUP SOCIETE ANONYME SA | Nichtzyklische Konsumgüter | 2.667.606,17 | 45.0 | 5,87 |
| NOD | NORDIC SEMICONDUCTOR | IT | 2.658.444,29 | 45.0 | 16,85 |
| PAF | PAN AFRICAN RESOURCES PLC | Materialien | 2.638.472,53 | 45.0 | 1,78 |
| IP | INTERPUMP GROUP | Industrie | 2.597.231,52 | 44.0 | 35,92 |
| KBCA | KBC ANCORA NV | Financials | 2.556.450,00 | 44.0 | 78,00 |
| BC | BRUNELLO CUCINELLI | Zyklische Konsumgüter | 2.549.706,54 | 43.0 | 86,34 |
| TEG | TAG IMMOBILIEN AG | Immobilien | 2.543.389,68 | 43.0 | 15,41 |
| FLS | FLSMIDTH AND CO CLASS B | Industrie | 2.517.126,37 | 43.0 | 67,44 |
| SUN | SULZER AG | Industrie | 2.509.014,58 | 43.0 | 164,65 |
| PNN | PENNON GROUP PLC | Versorger | 2.499.421,57 | 43.0 | 6,07 |
| BFT | BENEFIT SYSTEMS SA | Industrie | 2.487.222,47 | 42.0 | 924,96 |
| FDJU | FDJ UNITED | Zyklische Konsumgüter | 2.485.600,26 | 42.0 | 24,31 |
| SWEC B | SWECO CLASS B | Industrie | 2.480.147,00 | 42.0 | 13,79 |
| AALB | AALBERTS NV | Industrie | 2.449.910,48 | 42.0 | 31,34 |
| PHP | PRIMARY HEALTH PROPERTIES REIT PLC | Immobilien | 2.440.716,64 | 42.0 | 1,09 |
| SCYR | SACYR SA | Industrie | 2.432.263,03 | 41.0 | 4,74 |
| RAND | RANDSTAD HOLDING | Industrie | 2.430.550,32 | 41.0 | 25,52 |
| IVG | IVECO GROUP NV | Industrie | 2.420.168,02 | 41.0 | 14,03 |
| QLT | QUILTER PLC | Financials | 2.411.357,83 | 41.0 | 2,19 |
| LOOMIS | LOOMIS CLASS B | Industrie | 2.400.771,09 | 41.0 | 40,01 |
| PUM | PUMA | Zyklische Konsumgüter | 2.387.943,33 | 41.0 | 25,91 |
| TBCG | TBC BANK GROUP PLC | Financials | 2.383.500,72 | 41.0 | 57,66 |
| MTO | MITIE GROUP PLC | Industrie | 2.376.482,15 | 40.0 | 2,06 |
| WIE | WIENERBERGER AG | Materialien | 2.362.042,20 | 40.0 | 24,92 |
| BWY | BELLWAY PLC | Zyklische Konsumgüter | 2.351.756,93 | 40.0 | 22,94 |
| NEXI | NEXI | Financials | 2.339.967,23 | 40.0 | 3,88 |
| AG1 | AUTO1 GROUP | Zyklische Konsumgüter | 2.331.717,44 | 40.0 | 19,13 |
| TCAP | TP ICAP GROUP PLC | Financials | 2.330.007,17 | 40.0 | 3,58 |
| ZEAL | ZEALAND PHARMA | Gesundheitsversorgung | 2.311.274,49 | 39.0 | 40,97 |
| SDF | K+S N AG | Materialien | 2.308.267,92 | 39.0 | 16,08 |
| PIRC | PIRELLI & C | Zyklische Konsumgüter | 2.290.684,47 | 39.0 | 5,93 |
| HUH1V | HUHTAMAKI | Materialien | 2.288.172,80 | 39.0 | 27,20 |
| TOM | TOMRA SYSTEMS | Industrie | 2.286.024,96 | 39.0 | 11,16 |
| FRA | FRAPORT FRANKFURT AIRPORT SERVICES | Industrie | 2.282.901,55 | 39.0 | 71,95 |
| VZN | VZ HOLDING AG | Financials | 2.264.799,99 | 39.0 | 166,72 |
| DEMANT | DEMANT | Gesundheitsversorgung | 2.225.390,46 | 38.0 | 28,50 |
| RUI | RUBIS | Versorger | 2.218.838,40 | 38.0 | 33,68 |
| SFSN | SFS GROUP AG | Industrie | 2.175.388,02 | 37.0 | 136,00 |
| BC8 | BECHTLE AG | IT | 2.173.077,72 | 37.0 | 30,36 |
| FPE3 | FUCHS PREF | Materialien | 2.169.452,10 | 37.0 | 38,10 |
| GRF | GRIFOLS SA CLASS A | Gesundheitsversorgung | 2.165.331,86 | 37.0 | 9,19 |
| ACP | ASSECO POLAND SA | IT | 2.164.102,85 | 37.0 | 45,56 |
| ROCK B | ROCKWOOL CLASS B | Industrie | 2.149.547,48 | 37.0 | 25,44 |
| ALLFG | ALLFUNDS GROUP PLC | Financials | 2.144.364,30 | 37.0 | 8,78 |
| HOC | HOCHSCHILD MINING PLC | Materialien | 2.141.024,54 | 36.0 | 7,68 |
| TPE | TAURON POLSKA ENERGIA SA | Versorger | 2.133.954,26 | 36.0 | 2,33 |
| PUIG | PUIG BRANDS SA CLASS B | Nichtzyklische Konsumgüter | 2.125.083,36 | 36.0 | 18,32 |
| THULE | THULE GROUP | Zyklische Konsumgüter | 2.112.794,93 | 36.0 | 22,54 |
| FR | VALEO | Zyklische Konsumgüter | 2.102.335,20 | 36.0 | 11,03 |
| SHC | SHAFTESBURY CAPITAL PLC | Immobilien | 2.098.308,61 | 36.0 | 1,60 |
| QQ. | QINETIQ GROUP PLC | Industrie | 2.096.797,74 | 36.0 | 5,35 |
| HIK | HIKMA PHARMACEUTICALS PLC | Gesundheitsversorgung | 2.088.183,53 | 36.0 | 15,23 |
| VPK | KONINKLIJKE VOPAK NV | Energie | 2.085.039,92 | 36.0 | 43,48 |
| BPT | BRIDGEPOINT GROUP PLC | Financials | 2.076.950,09 | 35.0 | 3,23 |
| LIGHT | SIGNIFY NV | Industrie | 2.052.167,40 | 35.0 | 19,34 |
| DLG | DELONGHI | Zyklische Konsumgüter | 2.047.969,56 | 35.0 | 33,64 |
| HOLM B | HOLMEN CLASS B | Materialien | 2.026.051,38 | 35.0 | 30,93 |
| DKSH | DKSH HOLDING AG | Industrie | 2.019.181,64 | 34.0 | 64,29 |
| UTG | UNITE GROUP PLC | Immobilien | 2.016.010,20 | 34.0 | 5,47 |
| BUCN | BUCHER INDUSTRIES AG | Industrie | 2.009.439,64 | 34.0 | 363,96 |
| RBREW | ROYAL UNIBREW | Nichtzyklische Konsumgüter | 1.992.708,10 | 34.0 | 53,50 |
| REY | REPLY | IT | 1.957.768,80 | 33.0 | 95,80 |
| KEMIRA | KEMIRA | Materialien | 1.941.778,53 | 33.0 | 19,19 |
| WIHL | WIHLBORGS FASTIGHETER | Immobilien | 1.939.953,53 | 33.0 | 8,10 |
| VIS | VISCOFAN SA | Nichtzyklische Konsumgüter | 1.933.285,20 | 33.0 | 58,80 |
| CAMX | CAMURUS | Gesundheitsversorgung | 1.910.183,10 | 33.0 | 52,78 |
| DLN | DERWENT LONDON REIT PLC | Immobilien | 1.897.803,61 | 32.0 | 20,59 |
| ARCAD | ARCADIS NV | Industrie | 1.889.238,60 | 32.0 | 32,04 |
| INW | INFRASTRUTTURE WIRELESS ITALIANE | Kommunikation | 1.866.887,40 | 32.0 | 7,30 |
| MF | WENDEL | Financials | 1.844.128,00 | 31.0 | 84,50 |
| BYG | BIG YELLOW GROUP PLC | Immobilien | 1.838.486,93 | 31.0 | 10,66 |
| BAKKA | BAKKAFROST | Nichtzyklische Konsumgüter | 1.797.745,30 | 31.0 | 40,96 |
| CDI | CHRISTIAN DIOR | Zyklische Konsumgüter | 1.767.264,00 | 30.0 | 449,00 |
| BAVA | BAVARIAN NORDIC | Gesundheitsversorgung | 1.765.950,66 | 30.0 | 25,73 |
| VID | VIDRALA SA | Materialien | 1.765.356,00 | 30.0 | 78,60 |
| BME | B&M EUROPEAN VALUE RETAIL PLC | Zyklische Konsumgüter | 1.759.277,31 | 30.0 | 2,00 |
| SOP | SOPRA STERIA GROUP | IT | 1.755.815,40 | 30.0 | 126,60 |
| AMV0 | AUMOVIO N | Zyklische Konsumgüter | 1.743.824,40 | 30.0 | 37,20 |
| JD. | JD SPORTS FASHION PLC | Zyklische Konsumgüter | 1.739.203,30 | 30.0 | 0,85 |
| WALL B | WALLENSTAM CLASS B | Immobilien | 1.661.933,95 | 28.0 | 3,84 |
| HIAB | HIAB CORPORATION CLASS B | Industrie | 1.547.384,40 | 26.0 | 44,40 |
| AMBU B | AMBU CLASS B | Gesundheitsversorgung | 1.471.633,52 | 25.0 | 9,11 |
| EZJ | EASYJET PLC | Industrie | 1.377.143,43 | 23.0 | 4,20 |
| VTY | VISTRY GROUP PLC | Zyklische Konsumgüter | 1.018.617,86 | 17.0 | 4,01 |
| COFB | COFINIMMO REIT SA | Immobilien | 581.575,70 | 10.0 | 86,30 |
| GBP | GBP CASH | Cash und/oder Derivate | 577.644,76 | 10.0 | 115,20 |
| MSIFT | CASH COLLATERAL EUR MSIFT | Cash und/oder Derivate | 538.000,00 | 9.0 | 100,00 |
| USD | USD CASH | Cash und/oder Derivate | 234.771,76 | 4.0 | 85,34 |
| CHF | CHF CASH | Cash und/oder Derivate | 216.305,62 | 4.0 | 108,97 |
| PLN | PLN CASH | Cash und/oder Derivate | 158.148,59 | 3.0 | 23,56 |
| SEK | SEK CASH | Cash und/oder Derivate | 129.492,13 | 2.0 | 9,28 |
| DKK | DKK CASH | Cash und/oder Derivate | 82.363,82 | 1.0 | 13,38 |
| NOK | NOK CASH | Cash und/oder Derivate | 26.538,58 | 0.0 | 9,18 |
| CZK | CZK CASH | Cash und/oder Derivate | 0,00 | 0.0 | 4,11 |
| ETD_EUR | ETD EUR BALANCE WITH R84910 | Cash und/oder Derivate | 0,00 | 0.0 | 100,00 |
| DKK | DKK/EUR | Cash und/oder Derivate | -0,19 | 0.0 | 1,00 |
| CHF | CHF/EUR | Cash und/oder Derivate | 1,61 | 0.0 | 1,00 |
| SXTM6 | STOXX EUR SMALL200 JUN 26 | Cash und/oder Derivate | 0,00 | 0.0 | 392,30 |
Alphalerts is a Chapati Systems GmbH Service.
Made with Chai in Germany.
