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Itinerant ferromagnetism mediated by giant spin polarization of the metallic ligand band in the van der Waals magnet <mml:math xmlns:mml="http://www.w3.org/1998/Math/MathML"><mml:mrow><mml:msub><mml:mi>Fe</mml:mi><mml:mn>5</mml:mn></mml:msub><mml:mi>Ge</mml:mi><mml:msub><mml:mi>Te</mml:mi><mml:mn>2</mml:mn></mml:msub></mml:mrow></mml:math>
We investigate near-Fermi-energy (${E}_{F}$) element-specific electronic and spin states of ferromagnetic van der Waals (vdW) metal ${\mathrm{Fe}}_{5}\mathrm{Ge}{\mathrm{Te}}_{2}$. The soft x-ray angle-resolved photoemission spectroscopy (SX-ARPES) measurement provides spectroscopic evidence of localized Fe $3d$ band. We also find prominent hybridization between the localized Fe $3d$ band and the delocalized Ge/Te $p$ bands. …