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. 30, 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 |
| NDX1 | NORDEX | Industrie | 5.296.249,12 | 91.0 | 48,52 |
| SPM | SAIPEM | Energie | 5.291.966,97 | 91.0 | 4,61 |
| AED | AEDIFICA NV | Immobilien | 5.231.901,45 | 90.0 | 71,85 |
| RBI | RAIFFEISEN BANK INTERNATIONAL AG | Financials | 5.170.584,00 | 89.0 | 46,40 |
| NEX | NEXANS SA | Industrie | 5.165.759,40 | 89.0 | 158,10 |
| IGG | IG GROUP HOLDINGS PLC | Financials | 5.154.147,04 | 89.0 | 17,60 |
| AMUN | AMUNDI SA | Financials | 4.683.838,20 | 80.0 | 82,20 |
| AIXA | AIXTRON | IT | 4.653.697,86 | 80.0 | 46,98 |
| SCR | SCOR | Financials | 4.455.835,28 | 77.0 | 31,72 |
| ALSYDB | AL SYDBANK | Financials | 4.351.926,59 | 75.0 | 73,47 |
| TKA | THYSSENKRUPP AG | Materialien | 4.336.872,72 | 75.0 | 10,09 |
| VOE | VOESTALPINE AG | Materialien | 4.259.968,20 | 73.0 | 43,90 |
| JYSK | JYSKE BANK | Financials | 4.186.881,44 | 72.0 | 118,37 |
| SAVE | NORDNET | Financials | 4.151.161,23 | 71.0 | 28,06 |
| SBMO | SBM OFFSHORE NV | Energie | 4.138.709,44 | 71.0 | 36,44 |
| ANDR | ANDRITZ AG | Industrie | 4.111.050,30 | 71.0 | 72,30 |
| SSAB B | SSAB CLASS B | Materialien | 4.107.332,23 | 71.0 | 7,71 |
| BBY | BALFOUR BEATTY PLC | Industrie | 4.043.715,55 | 69.0 | 9,41 |
| ELIS | ELIS SA | Industrie | 4.034.533,88 | 69.0 | 26,26 |
| ISS | ISS A S | Industrie | 4.020.080,57 | 69.0 | 31,93 |
| NDA | AURUBIS AG | Materialien | 3.982.009,20 | 68.0 | 183,30 |
| CDR | CD PROJEKT SA | Kommunikation | 3.965.022,20 | 68.0 | 64,94 |
| GALE | GALENICA AG | Gesundheitsversorgung | 3.961.305,00 | 68.0 | 90,82 |
| BGEO | LION FINANCE GROUP PLC | Financials | 3.949.230,76 | 68.0 | 125,60 |
| BLND | BRITISH LAND REIT PLC | Immobilien | 3.936.970,16 | 68.0 | 4,46 |
| EUR | EUR CASH | Cash und/oder Derivate | 3.935.797,33 | 68.0 | 100,00 |
| GJF | GJENSIDIGE FORSIKRING | Financials | 3.927.243,89 | 67.0 | 23,85 |
| LAGR B | LAGERCRANTZ GROUP CLASS B | IT | 3.898.111,88 | 67.0 | 22,34 |
| FRO | FRONTLINE PLC | Energie | 3.874.445,95 | 67.0 | 30,96 |
| ABDN | ABERDEEN GROUP PLC | Financials | 3.868.634,23 | 66.0 | 2,41 |
| EVK | EVONIK INDUSTRIES AG | Materialien | 3.843.826,48 | 66.0 | 17,68 |
| SB1NO | SPAREBANK SR-NORGE | Financials | 3.837.073,42 | 66.0 | 18,37 |
| VK | VALLOUREC SA | Energie | 3.788.094,60 | 65.0 | 25,65 |
| ALK B | ALK-ABELLO CLASS B | Gesundheitsversorgung | 3.763.542,98 | 65.0 | 32,39 |
| IDR | INDRA SISTEMAS SA | IT | 3.748.852,05 | 64.0 | 48,81 |
| EDPR | EDP RENOVAVEIS SA | Versorger | 3.712.635,96 | 64.0 | 14,18 |
| LOTB | LOTUS BAKERIES NV | Nichtzyklische Konsumgüter | 3.662.820,00 | 63.0 | 10.260,00 |
| TEMN | TEMENOS AG | IT | 3.651.837,03 | 63.0 | 80,62 |
| TUB | FINANCIERE DE TUBIZE SA | Gesundheitsversorgung | 3.623.776,90 | 62.0 | 195,70 |
| SIGN | SIG GROUP N AG | Materialien | 3.612.882,92 | 62.0 | 13,82 |
| BMED | BANCA MEDIOLANUM | Financials | 3.611.313,72 | 62.0 | 18,63 |
| VEND | VEND MARKETPLACES ASA | Kommunikation | 3.576.881,15 | 61.0 | 23,41 |
| AZM | AZIMUT HOLDING | Financials | 3.568.701,60 | 61.0 | 36,10 |
| AYV | AYVENS SA | Industrie | 3.551.693,88 | 61.0 | 11,48 |
| ENG | ENAGAS SA | Versorger | 3.545.036,00 | 61.0 | 17,05 |
| MYCR | MYCRONIC | IT | 3.544.065,79 | 61.0 | 26,77 |
| INVP | INVESTEC PLC | Financials | 3.537.481,48 | 61.0 | 7,28 |
| JMAT | JOHNSON MATTHEY PLC | Materialien | 3.521.819,28 | 61.0 | 24,01 |
| SYENS | SYENSQO NV | Materialien | 3.509.308,95 | 60.0 | 56,35 |
| AKE | ARKEMA SA | Materialien | 3.503.372,00 | 60.0 | 62,00 |
| CAST | CASTELLUM | Immobilien | 3.481.030,67 | 60.0 | 10,91 |
| HUBN | HUBER & SUHNER AG | Industrie | 3.474.263,47 | 60.0 | 247,08 |
| INPST | INPOST SA | Industrie | 3.469.551,20 | 60.0 | 15,22 |
| VAR | VAR ENERGI | Energie | 3.469.552,68 | 60.0 | 4,31 |
| GL9 | GLANBIA PLC | Nichtzyklische Konsumgüter | 3.461.262,64 | 59.0 | 19,78 |
| ENT | ENTAIN PLC | Zyklische Konsumgüter | 3.431.771,50 | 59.0 | 6,57 |
| DIE | DIETEREN (D) SA | Zyklische Konsumgüter | 3.393.118,80 | 58.0 | 175,60 |
| SALM | SALMAR | Nichtzyklische Konsumgüter | 3.389.062,55 | 58.0 | 51,35 |
| BBOX | TRITAX BIG BOX REIT PLC | Immobilien | 3.373.484,94 | 58.0 | 1,74 |
| AZA | AVANZA BANK HOLDING | Financials | 3.371.848,50 | 58.0 | 30,68 |
| MAP | MAPFRE SA | Financials | 3.360.099,80 | 58.0 | 4,17 |
| RMV | RIGHTMOVE PLC | Kommunikation | 3.354.642,76 | 58.0 | 4,97 |
| BCVN | BC VAUD N | Financials | 3.334.519,89 | 57.0 | 134,40 |
| CPR | DAVIDE CAMPARI MILANO NV | Nichtzyklische Konsumgüter | 3.330.665,10 | 57.0 | 6,30 |
| A2A | A2A | Versorger | 3.297.158,52 | 57.0 | 2,42 |
| ZEG | ZEGONA COMMUNICATIONS PLC | Kommunikation | 3.274.025,92 | 56.0 | 20,84 |
| BZU | BUZZI | Materialien | 3.210.624,32 | 55.0 | 46,52 |
| PLUS | PLUS500 LTD | Financials | 3.208.916,10 | 55.0 | 52,44 |
| GETI B | GETINGE B | Gesundheitsversorgung | 3.202.463,67 | 55.0 | 17,00 |
| SOF | SOFINA SA | Financials | 3.173.208,00 | 55.0 | 218,00 |
| ITV | ITV PLC | Kommunikation | 3.162.318,40 | 54.0 | 0,94 |
| LUND B | LUNDBERGFORETAGEN CLASS B | Financials | 3.149.379,42 | 54.0 | 49,27 |
| SW | SODEXO SA | Zyklische Konsumgüter | 3.138.057,48 | 54.0 | 43,32 |
| ALLN | ALLREAL HOLDING AG | Immobilien | 3.131.389,00 | 54.0 | 232,90 |
| MBK | MBANK SA | Financials | 3.094.739,66 | 53.0 | 268,97 |
| BOL | BOLLORE | Energie | 3.089.425,44 | 53.0 | 5,37 |
| DRX | DRAX GROUP PLC | Versorger | 3.057.941,89 | 53.0 | 10,35 |
| INCH | INCHCAPE PLC | Zyklische Konsumgüter | 3.027.968,60 | 52.0 | 9,66 |
| TEP | TELEPERFORMANCE | Industrie | 3.013.830,12 | 52.0 | 57,54 |
| SECT B | SECTRA CLASS B | Gesundheitsversorgung | 3.000.947,36 | 52.0 | 23,64 |
| GFC | GECINA SA | Immobilien | 2.991.618,45 | 51.0 | 71,85 |
| EMG | MAN GROUP PLC | Financials | 2.991.137,18 | 51.0 | 2,99 |
| SUNN | SUNRISE N CLASS A LTD | Kommunikation | 2.982.420,01 | 51.0 | 50,90 |
| SFZN | SIEGFRIED HOLDING AG | Gesundheitsversorgung | 2.964.401,80 | 51.0 | 85,85 |
| CWK | CRANSWICK PLC | Nichtzyklische Konsumgüter | 2.933.013,33 | 50.0 | 62,17 |
| WPP | WPP PLC | Kommunikation | 2.926.999,00 | 50.0 | 3,07 |
| BKW | BKW N AG | Versorger | 2.925.869,51 | 50.0 | 170,40 |
| TPRO | TECHNOPROBE SPA | IT | 2.907.277,21 | 50.0 | 18,43 |
| RS1 | RS GROUP PLC | Industrie | 2.886.473,52 | 50.0 | 7,02 |
| UMI | UMICORE SA | Materialien | 2.885.587,16 | 50.0 | 17,18 |
| CVC | CVC CAPITAL PARTNERS PLC | Financials | 2.862.558,65 | 49.0 | 12,95 |
| EVD | CTS EVENTIM AG | Kommunikation | 2.847.085,75 | 49.0 | 56,15 |
| HER | HERA | Versorger | 2.837.154,00 | 49.0 | 4,02 |
| SRP | SERCO GROUP PLC | Industrie | 2.828.659,24 | 49.0 | 3,23 |
| VALMT | VALMET CORP | Industrie | 2.825.250,78 | 49.0 | 22,22 |
| BGN | BANCA GENERALI | Financials | 2.823.403,00 | 49.0 | 55,75 |
| GBF | BILFINGER | Industrie | 2.814.489,00 | 48.0 | 98,10 |
| FNTN | FREENET AG | Kommunikation | 2.802.259,28 | 48.0 | 27,14 |
| RAA | RATIONAL AG | Industrie | 2.783.927,50 | 48.0 | 623,50 |
| AAF | AIRTEL AFRICA PLC | Kommunikation | 2.761.371,14 | 47.0 | 4,09 |
| VSURE | VERISURE PLC | Industrie | 2.755.890,54 | 47.0 | 10,53 |
| NOD | NORDIC SEMICONDUCTOR | IT | 2.739.829,37 | 47.0 | 17,36 |
| VATN | VALIANT HOLDING AG | Financials | 2.737.406,96 | 47.0 | 198,10 |
| CMBN | CEMBRA MONEY BANK AG | Financials | 2.727.905,64 | 47.0 | 104,23 |
| UNI | UNICAJA BANCO SA | Financials | 2.712.670,68 | 47.0 | 2,76 |
| KGX | KION GROUP AG | Industrie | 2.712.311,80 | 47.0 | 44,30 |
| COV | COVIVIO SA | Immobilien | 2.667.420,60 | 46.0 | 56,20 |
| MOBN | MOBIMO HOLDING AG | Immobilien | 2.653.798,61 | 46.0 | 406,90 |
| MANTA | MANDATUM | Financials | 2.652.426,90 | 46.0 | 6,81 |
| CCL | CARNIVAL PLC | Zyklische Konsumgüter | 2.632.614,12 | 45.0 | 22,90 |
| ROR | ROTORK PLC | Industrie | 2.631.204,83 | 45.0 | 3,66 |
| ING | ING BANK SLASKI SA | Financials | 2.628.862,66 | 45.0 | 92,41 |
| IP | INTERPUMP GROUP | Industrie | 2.587.108,68 | 44.0 | 35,78 |
| PNN | PENNON GROUP PLC | Versorger | 2.583.087,09 | 44.0 | 6,27 |
| ADP | AEROPORTS DE PARIS SA | Industrie | 2.552.443,00 | 44.0 | 103,00 |
| KBCA | KBC ANCORA NV | Financials | 2.546.617,50 | 44.0 | 77,70 |
| BFT | BENEFIT SYSTEMS SA | Industrie | 2.534.396,90 | 44.0 | 942,50 |
| AALB | AALBERTS NV | Industrie | 2.523.392,16 | 43.0 | 32,28 |
| TUI1 | TUI N AG | Zyklische Konsumgüter | 2.515.989,09 | 43.0 | 6,35 |
| ZAB | ZABKA GROUP SOCIETE ANONYME SA | Nichtzyklische Konsumgüter | 2.478.268,18 | 43.0 | 5,45 |
| SUN | SULZER AG | Industrie | 2.466.835,59 | 42.0 | 161,89 |
| AXFO | AXFOOD | Nichtzyklische Konsumgüter | 2.466.098,44 | 42.0 | 26,11 |
| LATO B | LATOUR INVESTMENT CLASS B | Industrie | 2.465.175,58 | 42.0 | 19,43 |
| PHP | PRIMARY HEALTH PROPERTIES REIT PLC | Immobilien | 2.453.908,92 | 42.0 | 1,09 |
| CSG | CSG CLASS A NV | Industrie | 2.448.130,96 | 42.0 | 18,42 |
| TEG | TAG IMMOBILIEN AG | Immobilien | 2.447.661,84 | 42.0 | 14,83 |
| BC | BRUNELLO CUCINELLI | Zyklische Konsumgüter | 2.443.985,56 | 42.0 | 82,76 |
| NEXI | NEXI | Financials | 2.443.174,45 | 42.0 | 4,05 |
| IVG | IVECO GROUP NV | Industrie | 2.409.814,36 | 41.0 | 13,97 |
| PAF | PAN AFRICAN RESOURCES PLC | Materialien | 2.400.113,29 | 41.0 | 1,62 |
| SCYR | SACYR SA | Industrie | 2.398.424,63 | 41.0 | 4,68 |
| RAND | RANDSTAD HOLDING | Industrie | 2.394.358,74 | 41.0 | 25,14 |
| PUM | PUMA | Zyklische Konsumgüter | 2.394.394,74 | 41.0 | 25,98 |
| TCAP | TP ICAP GROUP PLC | Financials | 2.380.507,75 | 41.0 | 3,66 |
| LOOMIS | LOOMIS CLASS B | Industrie | 2.377.096,99 | 41.0 | 39,62 |
| FDJU | FDJ UNITED | Zyklische Konsumgüter | 2.361.882,60 | 41.0 | 23,10 |
| FTK | FLATEXDEGIRO N | Financials | 2.361.255,12 | 41.0 | 30,48 |
| QLT | QUILTER PLC | Financials | 2.337.525,11 | 40.0 | 2,12 |
| WIE | WIENERBERGER AG | Materialien | 2.335.502,40 | 40.0 | 24,64 |
| ZEAL | ZEALAND PHARMA | Gesundheitsversorgung | 2.332.664,97 | 40.0 | 41,35 |
| RUI | RUBIS | Versorger | 2.313.705,60 | 40.0 | 35,12 |
| MTO | MITIE GROUP PLC | Industrie | 2.297.087,27 | 39.0 | 1,99 |
| FLS | FLSMIDTH AND CO CLASS B | Industrie | 2.296.629,82 | 39.0 | 61,53 |
| HUH1V | HUHTAMAKI | Materialien | 2.293.220,24 | 39.0 | 27,26 |
| SDF | K+S N AG | Materialien | 2.291.042,04 | 39.0 | 15,96 |
| FPE3 | FUCHS PREF | Materialien | 2.287.889,38 | 39.0 | 40,18 |
| BWY | BELLWAY PLC | Zyklische Konsumgüter | 2.284.876,72 | 39.0 | 22,28 |
| TBCG | TBC BANK GROUP PLC | Financials | 2.280.741,73 | 39.0 | 55,17 |
| VZN | VZ HOLDING AG | Financials | 2.258.348,57 | 39.0 | 166,25 |
| PIRC | PIRELLI & C | Zyklische Konsumgüter | 2.257.877,70 | 39.0 | 5,85 |
| HIK | HIKMA PHARMACEUTICALS PLC | Gesundheitsversorgung | 2.234.862,10 | 38.0 | 16,30 |
| FRA | FRAPORT FRANKFURT AIRPORT SERVICES | Industrie | 2.213.097,75 | 38.0 | 69,75 |
| AG1 | AUTO1 GROUP | Zyklische Konsumgüter | 2.209.829,44 | 38.0 | 18,13 |
| DEMANT | DEMANT | Gesundheitsversorgung | 2.183.838,18 | 38.0 | 27,97 |
| ARCAD | ARCADIS NV | Industrie | 2.146.326,00 | 37.0 | 36,40 |
| RBREW | ROYAL UNIBREW | Nichtzyklische Konsumgüter | 2.141.473,57 | 37.0 | 57,49 |
| ALLFG | ALLFUNDS GROUP PLC | Financials | 2.130.923,84 | 37.0 | 8,72 |
| GRF | GRIFOLS SA CLASS A | Gesundheitsversorgung | 2.110.680,32 | 36.0 | 8,96 |
| ROCK B | ROCKWOOL CLASS B | Industrie | 2.103.417,19 | 36.0 | 24,89 |
| SWEC B | SWECO CLASS B | Industrie | 2.102.533,69 | 36.0 | 11,69 |
| BC8 | BECHTLE AG | IT | 2.078.596,08 | 36.0 | 29,04 |
| SFSN | SFS GROUP AG | Industrie | 2.076.522,74 | 36.0 | 129,81 |
| LIGHT | SIGNIFY NV | Industrie | 2.050.045,20 | 35.0 | 19,32 |
| PUIG | PUIG BRANDS SA CLASS B | Nichtzyklische Konsumgüter | 2.048.524,68 | 35.0 | 17,66 |
| VPK | KONINKLIJKE VOPAK NV | Energie | 2.044.758,56 | 35.0 | 42,64 |
| DKSH | DKSH HOLDING AG | Industrie | 2.041.912,94 | 35.0 | 65,02 |
| TPE | TAURON POLSKA ENERGIA SA | Versorger | 2.040.229,32 | 35.0 | 2,23 |
| ACP | ASSECO POLAND SA | IT | 2.037.334,83 | 35.0 | 42,90 |
| FR | VALEO | Zyklische Konsumgüter | 2.033.687,52 | 35.0 | 10,66 |
| UTG | UNITE GROUP PLC | Immobilien | 2.013.043,41 | 35.0 | 5,47 |
| DLG | DELONGHI | Zyklische Konsumgüter | 2.011.442,16 | 35.0 | 33,04 |
| SHC | SHAFTESBURY CAPITAL PLC | Immobilien | 2.011.378,77 | 35.0 | 1,53 |
| QQ. | QINETIQ GROUP PLC | Industrie | 2.010.311,93 | 35.0 | 5,13 |
| HOC | HOCHSCHILD MINING PLC | Materialien | 1.994.898,63 | 34.0 | 7,15 |
| THULE | THULE GROUP | Zyklische Konsumgüter | 1.986.082,68 | 34.0 | 21,19 |
| VIS | VISCOFAN SA | Nichtzyklische Konsumgüter | 1.972.740,00 | 34.0 | 60,00 |
| REY | REPLY | IT | 1.927.114,80 | 33.0 | 94,30 |
| HOLM B | HOLMEN CLASS B | Materialien | 1.926.453,79 | 33.0 | 29,41 |
| BPT | BRIDGEPOINT GROUP PLC | Financials | 1.915.631,71 | 33.0 | 2,98 |
| BUCN | BUCHER INDUSTRIES AG | Industrie | 1.864.046,47 | 32.0 | 337,63 |
| BAKKA | BAKKAFROST | Nichtzyklische Konsumgüter | 1.862.381,97 | 32.0 | 42,44 |
| INW | INFRASTRUTTURE WIRELESS ITALIANE | Kommunikation | 1.847.707,05 | 32.0 | 7,22 |
| MF | WENDEL | Financials | 1.841.945,60 | 32.0 | 84,40 |
| SOP | SOPRA STERIA GROUP | IT | 1.837.642,50 | 32.0 | 132,50 |
| DLN | DERWENT LONDON REIT PLC | Immobilien | 1.835.549,19 | 32.0 | 19,91 |
| WIHL | WIHLBORGS FASTIGHETER | Immobilien | 1.807.657,47 | 31.0 | 7,55 |
| BYG | BIG YELLOW GROUP PLC | Immobilien | 1.799.510,86 | 31.0 | 10,43 |
| KEMIRA | KEMIRA | Materialien | 1.785.950,55 | 31.0 | 17,65 |
| CAMX | CAMURUS | Gesundheitsversorgung | 1.779.802,00 | 31.0 | 49,18 |
| HIAB | HIAB CORPORATION CLASS B | Industrie | 1.765.203,15 | 30.0 | 50,65 |
| TOM | TOMRA SYSTEMS | Industrie | 1.764.044,13 | 30.0 | 8,61 |
| BME | B&M EUROPEAN VALUE RETAIL PLC | Zyklische Konsumgüter | 1.756.627,80 | 30.0 | 1,99 |
| AMV0 | AUMOVIO N | Zyklische Konsumgüter | 1.727.417,45 | 30.0 | 36,85 |
| VID | VIDRALA SA | Materialien | 1.727.174,00 | 30.0 | 76,90 |
| BAVA | BAVARIAN NORDIC | Gesundheitsversorgung | 1.726.651,46 | 30.0 | 25,16 |
| CDI | CHRISTIAN DIOR | Zyklische Konsumgüter | 1.673.587,20 | 29.0 | 425,20 |
| JD. | JD SPORTS FASHION PLC | Zyklische Konsumgüter | 1.601.997,74 | 28.0 | 0,78 |
| WALL B | WALLENSTAM CLASS B | Immobilien | 1.571.190,23 | 27.0 | 3,63 |
| AMBU B | AMBU CLASS B | Gesundheitsversorgung | 1.415.561,50 | 24.0 | 8,76 |
| EZJ | EASYJET PLC | Industrie | 1.353.522,22 | 23.0 | 4,13 |
| VTY | VISTRY GROUP PLC | Zyklische Konsumgüter | 974.138,19 | 17.0 | 3,83 |
| GBP | GBP CASH | Cash und/oder Derivate | 949.587,77 | 16.0 | 115,76 |
| SEK | SEK CASH | Cash und/oder Derivate | 622.320,69 | 11.0 | 9,26 |
| MSIFT | CASH COLLATERAL EUR MSIFT | Cash und/oder Derivate | 504.000,00 | 9.0 | 100,00 |
| NOK | NOK CASH | Cash und/oder Derivate | 297.220,44 | 5.0 | 9,19 |
| USD | USD CASH | Cash und/oder Derivate | 233.835,56 | 4.0 | 84,98 |
| CHF | CHF CASH | Cash und/oder Derivate | 214.040,95 | 4.0 | 109,09 |
| DKK | DKK CASH | Cash und/oder Derivate | 75.884,03 | 1.0 | 13,38 |
| PLN | PLN CASH | Cash und/oder Derivate | 17.324,55 | 0.0 | 23,56 |
| CZK | CZK CASH | Cash und/oder Derivate | 0,00 | 0.0 | 4,10 |
| ETD_EUR | ETD EUR BALANCE WITH R84910 | Cash und/oder Derivate | 0,00 | 0.0 | 100,00 |
| SXTM6 | STOXX EUR SMALL200 JUN 26 | Cash und/oder Derivate | 0,00 | 0.0 | 387,80 |
| SEK | SEK/EUR | Cash und/oder Derivate | -715,53 | 0.0 | 1,00 |
| SEK | SEK/EUR | Cash und/oder Derivate | -689,32 | 0.0 | 1,00 |
Alphalerts is a Chapati Systems GmbH Service.
Made with Chai in Germany.
