INTERNATIONAL BUSINESS MACHS IBM
COM · Common Stock · CUSIP 459200101 · ISIN US4592001014
American multinational technology company
* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once ($335.8m this quarter). Holder counts are more reliable. Shares outstanding: 911.0m as of 2023-06-30, from the company's own SEC filing; the percentage can still exceed 100%: lent-out shares are counted by the lender and the buyer, and some reports overlap without saying so. Implied quarter-end price ≈ $133.31. Options: 67 managers hold calls ($2.3bn notional), 64 hold puts ($1.5bn).
Trends to Q2 2023
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 2,288 |
| Q4 2022 | 2,435 |
| Q1 2023 | 2,398 |
| Q2 2023 | 2,428 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q4 2022 | 1,084 | 999 |
| Q1 2023 | 1,155 | 1,029 |
| Q2 2023 | 1,118 | 1,054 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q3 2022 | $2.9bn | $2.1bn | 0.72 |
| Q4 2022 | $3.6bn | $3.2bn | 0.91 |
| Q1 2023 | $2.3bn | $1.9bn | 0.83 |
| Q2 2023 | $2.3bn | $1.5bn | 0.67 |
Biggest buyers
| BlackRock Inc. | Added | +2.5m |
| FRANKLIN RESOURCES INC | Added | +1.9m |
| AMERIPRISE FINANCIAL INC | Added | +1.1m |
| LAZARD ASSET MANAGEMENT LLC | Added | +922.1k |
| STATE STREET CORP | Added | +903.0k |
| TORONTO DOMINION BANK | Added | +799.7k |
| TWO SIGMA INVESTMENTS, LP | Added | +743.7k |
| Soundwatch Capital LLC | New | +705.0k |
| JPMORGAN CHASE & CO | Added | +653.1k |
| MARSHALL WACE, LLP | Added | +642.3k |
Biggest sellers
| FMR LLC | Reduced | -4.6m |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | Reduced | -3.2m |
| ENVESTNET ASSET MANAGEMENT INC | Reduced | -1.9m |
| GOLDMAN SACHS GROUP INC | Reduced | -1.6m |
| OFI INVEST ASSET MANAGEMENT | Sold out | -1.2m |
| MILLENNIUM MANAGEMENT LLC | Reduced | -920.2k |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | -773.6k |
| Qube Research & Technologies Ltd | Sold out | -769.0k |
| STRS OHIO | Reduced | -694.2k |
| JANE STREET GROUP, LLC | Reduced | -658.0k |
Biggest calls
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $524.9m3.9m shares |
| CITADEL ADVISORS LLC | Reduced | $347.0m2.6m shares |
| D. E. Shaw & Co., Inc. | Added | $140.9m1.1m shares |
| SIMPLEX TRADING, LLC | Added | $120.1m900.8k shares |
| BNP PARIBAS FINANCIAL MARKETS | Added | $98.7m7.4k shares |
| MILLENNIUM MANAGEMENT LLC | Reduced | $90.2m674.2k shares |
| JANE STREET GROUP, LLC | Reduced | $83.9m627.1k shares |
| Capula Management Ltd | Added | $68.4m511.0k shares |
| Parallax Volatility Advisers, L.P. | Added | $63.3m473.4k shares |
| IMC-Chicago, LLC | Added | $61.6m460.7k shares |
Biggest puts
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $301.5m2.3m shares |
| CITADEL ADVISORS LLC | Reduced | $268.5m2.0m shares |
| MILLENNIUM MANAGEMENT LLC | Reduced | $96.6m720.7k shares |
| SIMPLEX TRADING, LLC | Reduced | $77.8m583.2k shares |
| D. E. Shaw & Co., Inc. | Reduced | $65.3m488.2k shares |
| BNP PARIBAS FINANCIAL MARKETS | Reduced | $64.2m4.8k shares |
| WOLVERINE TRADING, LLC | Added | $61.1m455.7k shares |
| BANK OF AMERICA CORP /DE/ | Added | $52.0m388.6k shares |
| Eisler Capital (UK) Ltd. | Reduced | $49.9m373.0k shares |
| Parallax Volatility Advisers, L.P. | Added | $46.8m349.8k shares |
Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.
Major shareholders (over 5%)
Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.
| Holder | Stake |
|---|---|
| VANGUARD CAPITAL MANAGEMENT LLC 13G · institution new · filed 2026-04-30 | 7.5% |
Fell to 5% or below in the last year: VANGUARD GROUP INC (0.0%, 2026-03-27; now reported by VANGUARD CAPITAL MANAGEMENT LLC)
Insider purchases and sales in Q2 2023
Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.
Officers and directors buying vs selling
Number of people, by quarter (10% owners not included)
Numbers
| Quarter | Buying | Bought | Selling | Sold | Sold under a plan |
|---|---|---|---|---|---|
| Q3 2021 | 0 | — | 0 | — | — |
| Q4 2021 | 1 | $9.9k | 0 | — | — |
| Q1 2022 | 0 | — | 0 | — | — |
| Q2 2022 | 0 | — | 1 | $222.5k | — |
| Q3 2022 | 1 | $125.0k | 0 | — | — |
| Q4 2022 | 0 | — | 1 | $445.1k | — |
| Q1 2023 | 0 | — | 1 | $5.2m | — |
| Q2 2023 | 0 | — | 0 | — | — |
None reported in Q2 2023.
Holders, Q2 2023
| Manager | Shares | Change |
|---|---|---|
| VANGUARD GROUP INC 0.26% of their portfolio | 81.7m $10.9bn | Added +476.2k |
| BlackRock Inc. 0.27% of their portfolio | 74.0m $9.9bn | Added +2.5m |
| STATE STREET CORP 0.38% of their portfolio | 54.4m $7.3bn | Added +903.0k |
| GEODE CAPITAL MANAGEMENT, LLC 0.26% of their portfolio | 16.7m $2.2bn | Added +492.6k |
| MORGAN STANLEY 0.19% of their portfolio | 14.3m $1.9bn | Added +473.6k |
| NORTHERN TRUST CORP 0.25% of their portfolio | 9.6m $1.3bn | Reduced -588.9k |
| BANK OF AMERICA CORP /DE/ 0.14% of their portfolio | 9.0m $1.2bn | Reduced -464.8k |
| NORGES BANK 0.22% of their portfolio | 8.5m $1.1bn | Reduced -331.5k |
| JPMORGAN CHASE & CO 0.13% of their portfolio | 8.5m $1.1bn | Added +653.1k |
| AMERIPRISE FINANCIAL INC 0.33% of their portfolio | 7.9m $1.1bn | Added +1.1m |
| Bank of New York Mellon Corp 0.22% of their portfolio | 7.9m $1.1bn | Reduced -233.3k |
| Legal & General Group Plc 0.29% of their portfolio | 6.7m $890.1m | Added +190.3k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.24% of their portfolio | 6.4m $848.3m | Reduced -17.5k |
| FMR LLC 0.07% of their portfolio | 6.3m $847.9m | Reduced -4.6m |
| California Public Employees Retirement System 0.63% of their portfolio | 5.5m $732.6m | Added +89.2k |
| ROYAL BANK OF CANADA 0.19% of their portfolio | 5.1m $681.0m | Added +82.0k |
| Amundi 0.34% of their portfolio | 5.1m $678.9m | Reduced -88.2k |
| GOLDMAN SACHS GROUP INC 0.16% of their portfolio | 4.7m $632.4m | Reduced -1.6m |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.30% of their portfolio | 4.7m $614.6m | Unchanged |
| WELLS FARGO & COMPANY/MN 0.18% of their portfolio | 4.6m $622.2m | Reduced -6.2k |
| Invesco Ltd. 0.16% of their portfolio | 4.6m $613.7m | Reduced -115.8k |
| DIMENSIONAL FUND ADVISORS LP 0.19% of their portfolio | 4.5m $603.3m | Added +177.6k |
| FIRST TRUST ADVISORS LP 0.59% of their portfolio | 3.9m $520.4m | Added +36.8k |
| Nuveen Asset Management, LLC 0.18% of their portfolio | 3.9m $519.3m | Added +290.7k |
| Swiss National Bank 0.30% of their portfolio | 3.3m $438.4m | Reduced -312.1k |
| UBS Group AG 0.18% of their portfolio | 3.0m $405.4m | Reduced -369.8k |
| DEUTSCHE BANK AG\ 0.21% of their portfolio | 3.0m $398.4m | Reduced -1.5k |
| Sumitomo Mitsui Trust Group, Inc. 0.29% of their portfolio | 2.7m $366.7m | Reduced -247.3k |
| CREDIT SUISSE AG/ 0.35% of their portfolio | 2.6m $352.6m | Added +109.3k |
| FRANKLIN RESOURCES INC 0.17% of their portfolio | 2.6m $348.3m | Added +1.9m |
| HSBC HOLDINGS PLC 0.34% of their portfolio | 2.3m $314.4m | Added +152.5k |
| BARCLAYS PLC 0.19% of their portfolio | 2.2m $296.7m | Added +544.8k |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP 0.32% of their portfolio | 2.0m $263.2m | Reduced -3.2m |
| STIFEL FINANCIAL CORP 0.35% of their portfolio | 1.9m $254.4m | Added +61.0k |
| LSV ASSET MANAGEMENT 0.55% of their portfolio | 1.9m $251.5m | Reduced -62.0k |
| RHUMBLINE ADVISERS 0.26% of their portfolio | 1.8m $235.9m | Reduced -17.9k |
| ProShare Advisors LLC 0.67% of their portfolio | 1.7m $229.7m | Added +159.9k |
| RENAISSANCE TECHNOLOGIES LLC 0.31% of their portfolio | 1.6m $216.6m | Added +147.8k |
| National Pension Service 0.35% of their portfolio | 1.6m $214.9m | Added +180.1k |
| APG Asset Management N.V. 0.39% of their portfolio | 1.6m $191.9m | Added +279.3k |
| DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main 0.32% of their portfolio | 1.5m $205.8m | Reduced -73.9k |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.29% of their portfolio | 1.5m $202.8m | Reduced -22.6k |
| Epoch Investment Partners, Inc. 1.12% of their portfolio | 1.5m $194.3m | Reduced -74.4k |
| NEW YORK STATE COMMON RETIREMENT FUND 0.25% of their portfolio | 1.5m $194.2m | Reduced -25.6k |
| HighTower Advisors, LLC 0.37% of their portfolio | 1.4m $189.2m | Added +80.9k |
| BANK OF MONTREAL /CAN/ 0.07% of their portfolio | 1.4m $195.1m | Reduced -5.7k |
| TORONTO DOMINION BANK 0.14% of their portfolio | 1.4m $182.5m | Added +799.7k |
| RAYMOND JAMES & ASSOCIATES 0.15% of their portfolio | 1.3m $177.0m | Reduced -8.3k |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.02% of their portfolio | 1.3m $170.0m | Added +51.6k |
| PNC Financial Services Group, Inc. 0.14% of their portfolio | 1.2m $164.1m | Reduced -18.6k |
| MARSHALL WACE, LLP 0.35% of their portfolio | 1.2m $162.6m | Added +642.3k |
| DekaBank Deutsche Girozentrale 0.35% of their portfolio | 1.2m $156.9m | Added +216.3k |
| PRUDENTIAL FINANCIAL INC 0.23% of their portfolio | 1.2m $155.2m | Reduced -130.9k |
| CANADA LIFE ASSURANCE Co 0.37% of their portfolio | 1.2m $155.6m | Added +29.3k |
| ALLIANCEBERNSTEIN L.P. 0.06% of their portfolio | 1.1m $152.6m | Added +31.3k |
| Swedbank AB 0.26% of their portfolio | 1.1m $145.9m | Reduced -10.2k |
| BNP PARIBAS ASSET MANAGEMENT Holding S.A. 0.44% of their portfolio | 1.1m $142.2m | Added +480.0k |
| CITIGROUP INC 0.18% of their portfolio | 1.1m $141.3m | Reduced -183.4k |
| ENVESTNET ASSET MANAGEMENT INC 0.06% of their portfolio | 1.1m $141.1m | Reduced -1.9m |
| PRINCIPAL FINANCIAL GROUP INC 0.10% of their portfolio | 1.1m $141.1m | Reduced -32.2k |
| TWO SIGMA INVESTMENTS, LP 0.37% of their portfolio | 1.0m $138.4m | Added +743.7k |
| FORT WASHINGTON INVESTMENT ADVISORS INC /OH/ 0.99% of their portfolio | 1.0m $137.7m | Added +887 |
| CIBC Private Wealth Group LLC 0.15% of their portfolio | 1.0m $136.8m | Added +28.3k |
| VICTORY CAPITAL MANAGEMENT INC 0.15% of their portfolio | 985.5k $131.9m | Reduced -275.7k |
| Robeco Institutional Asset Management B.V. 0.35% of their portfolio | 984.6k $131.7m | Reduced -179.5k |
| LPL Financial LLC 0.09% of their portfolio | 979.2k $131.0m | Added +50.5k |
| LAZARD ASSET MANAGEMENT LLC 0.16% of their portfolio | 961.1k $128.6m | Added +922.1k |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM 0.28% of their portfolio | 957.0k $128.1m | Reduced -37.0k |
| NEW YORK STATE TEACHERS RETIREMENT SYSTEM 0.29% of their portfolio | 949.9k $127.1m | Reduced -51.7k |
| Mitsubishi UFJ Asset Management Co., Ltd. 0.26% of their portfolio | 946.3k $126.6m | Added +62.9k |
| COMERICA BANK 0.00% of their portfolio | 933.9k $74 | First filing |
| Aberdeen Group plc 0.28% of their portfolio | 911.6k $122.0m | Added +74.2k |
| Retirement Systems of Alabama 0.53% of their portfolio | 878.9k $117.6m | Reduced -60.9k |
| CRAWFORD INVESTMENT COUNSEL INC 2.33% of their portfolio | 855.1k $114.4m | Added +91.1k |
| Mitsubishi UFJ Trust & Banking Corp 0.26% of their portfolio | 849.8k $113.7m | Reduced -37.2k |
| ADAGE CAPITAL PARTNERS GP, L.L.C. 0.24% of their portfolio | 819.7k $109.7m | Added +139.4k |
| BNP PARIBAS FINANCIAL MARKETS 0.21% of their portfolio | 790.9k $105.8m | Added +209.9k |
| W1M Investment Management Ltd 2.95% of their portfolio | 774.6k $103.6m | Added +13.6k |
| SCHRODER INVESTMENT MANAGEMENT GROUP 0.15% of their portfolio | 756.2k $101.2m | Added +2.1k |
| FEDERATED HERMES, INC. 0.25% of their portfolio | 753.5k $100.8m | Added +97.6k |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.16% of their portfolio | 730.3k $97.7m | Reduced -773.6k |
| COMMONWEALTH EQUITY SERVICES, LLC 0.19% of their portfolio | 710.9k $95.1m | Reduced -4.1k |
| Soundwatch Capital LLC 0.00% of their portfolio | 705.0k $2.4k | New |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.05% of their portfolio | 701.4k $93.9m | Added +4.8k |
| TD Asset Management Inc 0.10% of their portfolio | 688.8k $92.2m | Reduced -48.3k |
| Janney Montgomery Scott LLC 0.31% of their portfolio | 670.9k $89.8m | Reduced -2.8k |
| STOREBRAND ASSET MANAGEMENT AS 0.40% of their portfolio | 657.6k $88.0m | Added +13.1k |
| NATIONAL BANK OF CANADA /FI/ 0.17% of their portfolio | 628.7k $84.1m | Added +288.6k |
| Raymond James Financial Services Advisors, Inc. 0.14% of their portfolio | 602.1k $80.6m | Added +18.1k |
| Korea Investment CORP 0.22% of their portfolio | 579.3k $77.5m | Added +330.2k |
| Ensign Peak Advisors, Inc 0.15% of their portfolio | 567.9k $76.0m | Reduced -69.9k |
| INTECH INVESTMENT MANAGEMENT LLC 0.78% of their portfolio | 565.2k $75.6m | Reduced -131.7k |
| US BANCORP \DE\ 0.12% of their portfolio | 561.9k $75.2m | Reduced -9.9k |
| Zurcher Kantonalbank (Zurich Cantonalbank) 0.32% of their portfolio | 538.5k $72.1m | Added +28.2k |
| Chevy Chase Trust Holdings, LLC 0.27% of their portfolio | 533.6k $71.4m | Reduced -5.2k |
| AQR CAPITAL MANAGEMENT LLC 0.15% of their portfolio | 532.8k $71.3m | Reduced -54.1k |
| State of New Jersey Common Pension Fund D 0.24% of their portfolio | 531.5k $71.1m | Unchanged |
| Asset Management One Co., Ltd. 0.29% of their portfolio | 518.4k $69.4m | Added +5.3k |
| TRUIST FINANCIAL CORP 0.12% of their portfolio | 517.9k $69.3m | Added +15.8k |
| NOMURA ASSET MANAGEMENT CO LTD 0.31% of their portfolio | 507.1k $67.9m | Added +89.1k |