The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F COVER PAGE

OMB APPROVAL
OMB Number: 3235-0006
Estimated average burden
hours per response: 23.8

Report for the Calendar Year or Quarter Ended: 06-30-2025
Check here if Amendment    Amendment Number:
This Amendment (Check only one.):    is a restatement.
   adds new holdings entries.
Institutional Investment Manager Filing this Report:
Name: Allianz SE
Address: Koeniginstrasse 28
Munich, 2M  80802
Form 13F File Number: 028-24968
CRD Number (if applicable):
SEC File Number (if applicable):

The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form.

Person Signing this Report on Behalf of Reporting Manager:
Name: Michael Sieburg / Stephan Balthasar
Title: Senior Compliance Officer / Senior Legal Adviser
Phone: 491728969888
Signature, Place, and Date of Signing:
/s/ Michael Sieburg /s/ Stephan Balthasar Munich2M 08-08-2025
[Signature] [City, State] [Date]
Report Type (Check only one.):
   13F HOLDINGS REPORT. (Check here if all holdings of this reporting manager are reported in this report.)
   13F NOTICE. (Check here if no holdings reported are in this report, and all holdings are reported by other reporting manager(s).)
X 13F COMBINATION REPORT. (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).)
List of Other Managers Reporting for this Manager:
[If there are no entries in this list, omit this section.]
Name Form 13F File No. CRD No. (if applicable) SEC File No. (if applicable) CIK
Allianz Asset Management GmbH 028-15014      
Allianz Investment Management U.S. LLC 028-21169      
Powszechne Towarzystwo Emerytalne Allianz Polska S.A. 028-24953      
Towarzystwo Funduszy Inwestycyjnych Allianz Polska S.A. 028-24954      
Form 13F Summary Page
Report Summary:
Number of Other Included Managers: 5
Form 13F Information Table Entry Total: 626
Form 13F Information Table Value Total: 4,232,164,068
(round to nearest dollar)
List of Other Included Managers:
Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report.
[If there are no entries in this list, state “NONE” and omit the column headings and list entries.]
No. Name Form 13F File No. CRD No. (if applicable) SEC File No. (if applicable) CIK
1 Allianz Investments III Luxembourg S.A. 028-24967      
2 ALLIANZ MEXICO, S.A. COMPANIA DE SEGUROS 028-24944      
3 Allianz ZB Mandatory & Voluntary Pension Funds Management Co Ltd. 028-24947      
4 POD Allianz Bulgaria 028-24955      
5 INVESTITORI SGR S.p.A. 028-24965