Yes, Porsche AG is publicly traded. The luxury sports car manufacturer listed on the Frankfurt Stock Exchange in September 2022 in one of Europe’s largest initial public offerings. Shares trade under the ticker symbol P911 on the Xetra electronic exchange, and U.S. investors can buy shares through an American Depositary Receipt (ADR) that trades over the counter under the symbol DRPRY.
Two Companies Named Porsche
One of the most confusing things about investing in Porsche is that two separate publicly traded companies carry the name. Understanding the difference matters before you buy shares.
Porsche AG (ticker: P911) is the actual car company. It designs, manufactures, and sells vehicles like the 911, Cayenne, Taycan, and Macan. It trades on the Frankfurt Stock Exchange and is one of the world’s most profitable luxury automakers.
Porsche Automobil Holding SE (ticker: PAH3) is a holding company controlled by the Porsche and Piëch families. It does not build cars. Its primary asset is a majority stake in Volkswagen AG’s ordinary shares, which in turn gives it indirect influence over Porsche AG and the broader Volkswagen Group (including Audi, Lamborghini, Bentley, and others). Porsche SE also trades on the Frankfurt Stock Exchange, and it has been listed there for decades.
If your goal is to invest in the company that actually makes Porsche cars, you want Porsche AG, not Porsche Automobil Holding SE.
How Porsche AG’s Ownership Works
Porsche AG has two classes of stock: ordinary shares, which carry voting rights, and preferred shares, which do not carry voting rights but are the ones available to public investors. This dual-class structure is common among large German companies.
Volkswagen AG retains all of the ordinary (voting) shares, keeping full control over the company’s strategic direction. Porsche SE also holds an indirect stake through its ownership position in Volkswagen. The preferred shares are split between Volkswagen (which holds the majority) and public investors, both institutional and individual.
In practical terms, this means that buying P911 shares gives you an economic stake in Porsche AG’s profits and stock price movement, but no voting power over company decisions. Dividends on preferred shares are typically at least as large as those paid on ordinary shares, and in many German companies preferred shareholders receive a small premium.
How U.S. Investors Can Buy Shares
Porsche AG is not listed on the New York Stock Exchange or Nasdaq, but U.S. investors have two routes to buy in.
The most straightforward option is the ADR trading under the ticker DRPRY on the U.S. over-the-counter market. An ADR is a certificate issued by a U.S. bank that represents shares of a foreign company, letting you buy and sell in U.S. dollars through a regular brokerage account. Because DRPRY trades over the counter rather than on a major exchange, trading volume can be lower and bid-ask spreads wider than what you would see with a major U.S.-listed stock.
The second option is to buy P911 shares directly on the Frankfurt Stock Exchange. Most large U.S. brokerages offer international trading, though you will typically pay higher commissions and deal with currency conversion between dollars and euros. Some brokers charge a flat fee for international trades, while others take a percentage.
Key Details for Potential Investors
Porsche AG’s IPO in September 2022 priced preferred shares at 82.50 euros each, valuing the company at roughly 75 billion euros at the time. Since then, the stock has traded based on the company’s earnings, delivery numbers, and broader market conditions like any other publicly listed automaker.
Because Porsche AG is a German company, dividends paid to U.S. investors are subject to German withholding tax. Germany withholds 26.375% on dividends by default, though a U.S.-Germany tax treaty can reduce that rate. Your broker may handle part of this automatically, and you can typically claim a foreign tax credit on your U.S. return for taxes withheld abroad.
Porsche AG reports earnings in euros and follows International Financial Reporting Standards, so its financial statements look slightly different from those of U.S. companies that use Generally Accepted Accounting Principles. Quarterly and annual reports are available in English on Porsche’s investor relations website.