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 ($361.7m this quarter). Holder counts are more reliable. Shares outstanding: 913.1m as of 2023-09-30, 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 ≈ $140.27. Options: 64 managers hold calls ($2.3bn notional), 67 hold puts ($2.1bn).
Trends to Q3 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 |
| Q3 2023 | 2,468 |
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 |
| Q3 2023 | 1,113 | 1,062 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q4 2022 | $3.6bn | $3.2bn | 0.91 |
| Q1 2023 | $2.3bn | $1.9bn | 0.83 |
| Q2 2023 | $2.3bn | $1.5bn | 0.67 |
| Q3 2023 | $2.3bn | $2.1bn | 0.91 |
Biggest buyers
| BANK OF AMERICA CORP /DE/ | Added | +6.5m |
| Amundi | Added | +2.8m |
| MORGAN STANLEY | Added | +1.9m |
| California Public Employees Retirement System | Added | +871.2k |
| GEODE CAPITAL MANAGEMENT, LLC | Added | +860.2k |
| Bank of New York Mellon Corp | Added | +807.4k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC | Added | +681.2k |
| Qube Research & Technologies Ltd | New | +557.9k |
| BARCLAYS PLC | Added | +478.1k |
| NORTHERN TRUST CORP | Added | +404.9k |
Biggest sellers
| FMR LLC | Reduced | -1.1m |
| RENAISSANCE TECHNOLOGIES LLC | Reduced | -1.1m |
| BlackRock Inc. | Reduced | -841.4k |
| Soundwatch Capital LLC | Sold out | -705.0k |
| UBS Group AG | Reduced | -650.3k |
| HSBC HOLDINGS PLC | Reduced | -589.8k |
| COMERICA BANK | Reduced | -577.0k |
| CIBC Private Wealth Group LLC | Reduced | -563.1k |
| FIRST TRUST ADVISORS LP | Reduced | -401.8k |
| DEUTSCHE BANK AG\ | Reduced | -380.6k |
Biggest calls
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $504.5m3.6m shares |
| CITADEL ADVISORS LLC | Added | $452.5m3.2m shares |
| D. E. Shaw & Co., Inc. | Reduced | $146.0m1.0m shares |
| JANE STREET GROUP, LLC | Added | $142.4m1.0m shares |
| MILLENNIUM MANAGEMENT LLC | Added | $124.2m885.3k shares |
| SIMPLEX TRADING, LLC | Reduced | $83.8m601.0k shares |
| Walleye Trading LLC | Added | $62.5m445.4k shares |
| WOLVERINE TRADING, LLC | Added | $56.7m404.1k shares |
| NATIONAL BANK OF CANADA /FI/ | New | $52.4m3.7k shares |
| IMC-Chicago, LLC | Reduced | $50.4m359.5k shares |
Biggest puts
| CITADEL ADVISORS LLC | Added | $397.8m2.8m shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $376.6m2.7m shares |
| MILLENNIUM MANAGEMENT LLC | Added | $137.6m979.6k shares |
| Balyasny Asset Management L.P. | Added | $115.1m820.1k shares |
| SIMPLEX TRADING, LLC | Added | $81.7m584.0k shares |
| DENDUR CAPITAL LP | New | $70.2m500.0k shares |
| BNP PARIBAS FINANCIAL MARKETS | Added | $68.2m4.9k shares |
| UBS Group AG | Added | $63.2m450.7k shares |
| NOMURA HOLDINGS INC | Added | $61.8m440.3k shares |
| BANK OF AMERICA CORP /DE/ | Reduced | $53.6m382.2k 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 Q3 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 |
|---|---|---|---|---|---|
| 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 | — | — |
| Q3 2023 | 0 | — | 0 | — | — |
None reported in Q3 2023.
Holders, Q3 2023
| Manager | Shares | Change |
|---|---|---|
| VANGUARD GROUP INC 0.28% of their portfolio | 82.1m $11.5bn | Added +365.4k |
| BlackRock Inc. 0.30% of their portfolio | 73.2m $10.3bn | Reduced -841.4k |
| STATE STREET CORP 0.43% of their portfolio | 54.7m $7.7bn | Added +239.0k |
| GEODE CAPITAL MANAGEMENT, LLC 0.29% of their portfolio | 17.6m $2.5bn | Added +860.2k |
| MORGAN STANLEY 0.23% of their portfolio | 16.3m $2.3bn | Added +1.9m |
| BANK OF AMERICA CORP /DE/ 0.27% of their portfolio | 15.5m $2.2bn | Added +6.5m |
| NORTHERN TRUST CORP 0.27% of their portfolio | 10.0m $1.4bn | Added +404.9k |
| Bank of New York Mellon Corp 0.27% of their portfolio | 8.7m $1.2bn | Added +807.4k |
| NORGES BANK 0.24% of their portfolio | 8.3m $1.2bn | Reduced -135.1k |
| JPMORGAN CHASE & CO 0.13% of their portfolio | 8.1m $1.1bn | Reduced -308.1k |
| AMERIPRISE FINANCIAL INC 0.36% of their portfolio | 7.9m $1.1bn | Reduced -34.0k |
| Amundi 0.54% of their portfolio | 7.9m $1.1bn | Added +2.8m |
| Legal & General Group Plc 0.31% of their portfolio | 6.4m $899.0m | Reduced -244.0k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.25% of their portfolio | 6.4m $890.4m | Added +6.4k |
| California Public Employees Retirement System 0.77% of their portfolio | 6.3m $890.3m | Added +871.2k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.34% of their portfolio | 5.4m $753.3m | Added +681.2k |
| FMR LLC 0.06% of their portfolio | 5.2m $731.1m | Reduced -1.1m |
| ROYAL BANK OF CANADA 0.20% of their portfolio | 4.9m $685.5m | Reduced -202.7k |
| GOLDMAN SACHS GROUP INC 0.16% of their portfolio | 4.5m $632.7m | Reduced -216.6k |
| DIMENSIONAL FUND ADVISORS LP 0.20% of their portfolio | 4.4m $617.8m | Reduced -106.0k |
| Invesco Ltd. 0.17% of their portfolio | 4.4m $613.4m | Reduced -214.6k |
| WELLS FARGO & COMPANY/MN 0.19% of their portfolio | 4.3m $605.4m | Reduced -335.2k |
| Nuveen Asset Management, LLC 0.19% of their portfolio | 3.8m $530.3m | Reduced -101.5k |
| FIRST TRUST ADVISORS LP 0.58% of their portfolio | 3.5m $489.3m | Reduced -401.8k |
| Swiss National Bank 0.32% of their portfolio | 2.9m $409.8m | Reduced -355.4k |
| Sumitomo Mitsui Trust Group, Inc. 0.31% of their portfolio | 2.7m $378.4m | Reduced -43.4k |
| BARCLAYS PLC 0.25% of their portfolio | 2.7m $378.2m | Added +478.1k |
| CREDIT SUISSE AG/ 0.38% of their portfolio | 2.6m $368.6m | Reduced -7.3k |
| FRANKLIN RESOURCES INC 0.19% of their portfolio | 2.6m $366.7m | Added +10.6k |
| DEUTSCHE BANK AG\ 0.24% of their portfolio | 2.6m $364.3m | Reduced -380.6k |
| UBS Group AG 0.15% of their portfolio | 2.4m $333.8m | Reduced -650.3k |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP 0.38% of their portfolio | 2.2m $312.5m | Added +259.9k |
| STIFEL FINANCIAL CORP 0.38% of their portfolio | 1.9m $270.9m | Added +29.2k |
| RHUMBLINE ADVISERS 0.29% of their portfolio | 1.8m $248.5m | Added +8.2k |
| HSBC HOLDINGS PLC 0.27% of their portfolio | 1.8m $246.6m | Reduced -589.8k |
| ProShare Advisors LLC 0.72% of their portfolio | 1.6m $229.6m | Reduced -79.9k |
| National Pension Service 0.37% of their portfolio | 1.6m $233.3m | Added +26.1k |
| DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main 0.33% of their portfolio | 1.6m $225.2m | Added +67.0k |
| LSV ASSET MANAGEMENT 0.52% of their portfolio | 1.6m $221.5m | Reduced -301.4k |
| BANK OF MONTREAL /CAN/ 0.08% of their portfolio | 1.5m $222.0m | Added +95.5k |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.32% of their portfolio | 1.5m $205.3m | Reduced -52.6k |
| APG Asset Management N.V. 0.42% of their portfolio | 1.5m $205.0m | Reduced -103.4k |
| HighTower Advisors, LLC 0.36% of their portfolio | 1.4m $192.7m | Reduced -40.6k |
| ALLIANCEBERNSTEIN L.P. 0.08% of their portfolio | 1.4m $191.3m | Added +222.9k |
| NEW YORK STATE COMMON RETIREMENT FUND 0.27% of their portfolio | 1.4m $191.2m | Reduced -88.2k |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.03% of their portfolio | 1.4m $189.9m | Added +83.2k |
| Epoch Investment Partners, Inc. 1.19% of their portfolio | 1.3m $186.3m | Reduced -124.1k |
| RAYMOND JAMES & ASSOCIATES 0.15% of their portfolio | 1.3m $183.1m | Reduced -17.5k |
| CITIGROUP INC 0.26% of their portfolio | 1.3m $182.0m | Added +241.2k |
| PRUDENTIAL FINANCIAL INC 0.28% of their portfolio | 1.3m $179.1m | Added +116.2k |
| LAZARD ASSET MANAGEMENT LLC 0.24% of their portfolio | 1.3m $176.3m | Added +295.8k |
| PNC Financial Services Group, Inc. 0.15% of their portfolio | 1.2m $171.5m | Reduced -3.9k |
| ENVESTNET ASSET MANAGEMENT INC 0.08% of their portfolio | 1.2m $171.1m | Added +164.8k |
| DekaBank Deutsche Girozentrale 0.38% of their portfolio | 1.2m $164.0m | Reduced -4.2k |
| CANADA LIFE ASSURANCE Co 0.39% of their portfolio | 1.2m $161.5m | Reduced -5.5k |
| TORONTO DOMINION BANK 0.13% of their portfolio | 1.1m $153.5m | Reduced -270.8k |
| Swedbank AB 0.28% of their portfolio | 1.1m $152.3m | Reduced -5.4k |
| Robeco Institutional Asset Management B.V. 0.41% of their portfolio | 1.1m $151.9m | Added +98.0k |
| LPL Financial LLC 0.10% of their portfolio | 1.1m $148.6m | Added +80.1k |
| PRINCIPAL FINANCIAL GROUP INC 0.11% of their portfolio | 1.1m $147.4m | Reduced -3.5k |
| Mitsubishi UFJ Asset Management Co., Ltd. 0.29% of their portfolio | 1.0m $141.6m | Added +62.8k |
| FORT WASHINGTON INVESTMENT ADVISORS INC /OH/ 1.04% of their portfolio | 978.6k $137.3m | Reduced -50.7k |
| MARSHALL WACE, LLP 0.29% of their portfolio | 973.3k $136.5m | Reduced -241.6k |
| Aberdeen Group plc 0.35% of their portfolio | 964.8k $135.4m | Added +53.3k |
| VICTORY CAPITAL MANAGEMENT INC 0.15% of their portfolio | 947.0k $132.9m | Reduced -38.5k |
| NEW YORK STATE TEACHERS RETIREMENT SYSTEM 0.31% of their portfolio | 920.4k $129.1m | Reduced -29.5k |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM 0.30% of their portfolio | 917.8k $128.8m | Reduced -39.2k |
| ADAGE CAPITAL PARTNERS GP, L.L.C. 0.28% of their portfolio | 895.8k $125.7m | Added +76.1k |
| Retirement Systems of Alabama 0.58% of their portfolio | 878.5k $123.3m | Reduced -390 |
| BNP PARIBAS ASSET MANAGEMENT Holding S.A. 0.38% of their portfolio | 876.1k $122.9m | Reduced -186.9k |
| CRAWFORD INVESTMENT COUNSEL INC 2.64% of their portfolio | 866.8k $121.6m | Added +11.7k |
| W1M Investment Management Ltd 3.35% of their portfolio | 824.6k $115.7m | Added +50.1k |
| SCHRODER INVESTMENT MANAGEMENT GROUP 0.17% of their portfolio | 819.5k $115.0m | Added +63.3k |
| BNP PARIBAS FINANCIAL MARKETS 0.25% of their portfolio | 799.0k $112.1m | Added +8.1k |
| Mitsubishi UFJ Trust & Banking Corp 0.28% of their portfolio | 787.9k $110.5m | Reduced -61.9k |
| COMMONWEALTH EQUITY SERVICES, LLC 0.21% of their portfolio | 728.4k $102.2m | Added +17.5k |
| AQR CAPITAL MANAGEMENT LLC 0.21% of their portfolio | 723.8k $101.5m | Added +191.0k |
| TWO SIGMA INVESTMENTS, LP 0.28% of their portfolio | 716.3k $100.5m | Reduced -318.3k |
| Janney Montgomery Scott LLC 0.36% of their portfolio | 681.9k $95.7m | Added +11.0k |
| TD Asset Management Inc 0.11% of their portfolio | 675.0k $94.7m | Reduced -13.8k |
| STOREBRAND ASSET MANAGEMENT AS 0.45% of their portfolio | 673.2k $94.4m | Added +15.6k |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.05% of their portfolio | 662.0k $92.9m | Reduced -39.4k |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.14% of their portfolio | 642.9k $90.2m | Reduced -87.4k |
| NATIONAL BANK OF CANADA /FI/ 0.16% of their portfolio | 638.6k $89.8m | Added +9.9k |
| ACADIAN ASSET MANAGEMENT LLC 0.37% of their portfolio | 621.7k $87.2m | Added +384.7k |
| OSAIC HOLDINGS, INC. 0.13% of their portfolio | 603.2k $84.7m | Added +154.4k |
| Raymond James Financial Services Advisors, Inc. 0.15% of their portfolio | 601.3k $84.4m | Reduced -828 |
| Korea Investment CORP 0.24% of their portfolio | 585.7k $82.2m | Added +6.4k |
| CITADEL ADVISORS LLC 0.09% of their portfolio | 573.0k $80.4m | Added +112.7k |
| FEDERATED HERMES, INC. 0.21% of their portfolio | 562.5k $78.9m | Reduced -191.0k |
| TRUIST FINANCIAL CORP 0.13% of their portfolio | 560.7k $78.7m | Added +42.8k |
| US BANCORP \DE\ 0.13% of their portfolio | 559.0k $78.4m | Reduced -2.9k |
| Qube Research & Technologies Ltd 0.23% of their portfolio | 557.9k $78.3m | New |
| TWO SIGMA ADVISERS, LP 0.20% of their portfolio | 557.4k $78.2m | Added +248.6k |
| Ensign Peak Advisors, Inc 0.17% of their portfolio | 551.4k $77.4m | Reduced -16.6k |
| Caisse de depot et placement du Quebec 0.22% of their portfolio | 550.9k $77.3m | Added +138.7k |
| RENAISSANCE TECHNOLOGIES LLC 0.13% of their portfolio | 536.4k $75.3m | Reduced -1.1m |
| Asset Management One Co., Ltd. 0.33% of their portfolio | 529.4k $74.3m | Added +11.0k |
| AMERICAN CENTURY COMPANIES INC 0.06% of their portfolio | 527.7k $74.0m | Added +98.6k |
| NOMURA ASSET MANAGEMENT CO LTD 0.35% of their portfolio | 527.2k $74.0m | Added +20.1k |