When considering foreign investment in Germany by the country of the immediate investor, the largest shares typically originate from the Netherlands and Luxembourg. These are primarily holding locations through which capital is routed. An analysis of FDI stocks by ultimate investing economy (UIE) enables the allocation of investments to the country where the group’s headquarters are located, and thus to the country where investment decisions are ultimately made. This approach can significantly shift the regional distribution of capital providers, and Germany itself appears as a source country for investments.