In the shareholding structure of the 196 companies listed on EGM as at 31 May 2023, there are 132 Institutional Investors, of which 23 are Italian (equal to 17%) and 109 foreign (83%). France and Switzerland are the main foreign investors and are both present with 22 asset management companies, or 16.7%. Total investment is €776M (8% of capitalization), of which €414M (53%) is held by Italian investors and €362M (47%) by foreign investors. Among the most active investors: Banca Mediolanum (€83.5M, 79 investee companies), Algebris Investments (Luxembourg) SARL (€80.4M, 64 companies), Azimut Holding (€62.4M, 90 companies), First Capital (€59.0M, 21 companies).