Opportunity Team Data is not reported on a role with access to it

I am trying to report on Opportunity team data but CRM reports don't seem to work as expected. When I create a report from Opportunity Active subject area with just opportunity name, I get all of the user's opportunities, alongwith her reportee's opportunities. But when I create a report from Opportunity Team Active subject are with just opportunity name, I only get user's opportunities (owner or on team). I dont see any of her reportee's opportunities. So different subject areas seem to be working differently.
Company setting -

Company Data Visibility Settings: Manager Visibility Enabled

User setting -

Reporting Subject Areas - Manager Visibility