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 ($443.9m this quarter). Holder counts are more reliable. Shares outstanding: 924.6m as of 2024-09-30, 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 ≈ $220.03. Options: 68 managers hold calls ($4.2bn notional), 68 hold puts ($2.8bn).
Trends to Q3 2024
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 |
| Q4 2023 | 2,685 |
| Q1 2024 | 2,807 |
| Q2 2024 | 2,762 |
| Q3 2024 | 2,939 |
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 |
| Q4 2023 | 1,149 | 1,145 |
| Q1 2024 | 1,325 | 1,199 |
| Q2 2024 | 1,310 | 1,173 |
| Q3 2024 | 1,388 | 1,191 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q4 2023 | $2.8bn | $2.5bn | 0.88 |
| Q1 2024 | $3.8bn | $3.0bn | 0.80 |
| Q2 2024 | $2.6bn | $2.0bn | 0.78 |
| Q3 2024 | $4.2bn | $2.8bn | 0.66 |
Biggest buyers
| JPMORGAN CHASE & CO | Added | +8.9m |
| INTERNATIONAL ASSETS INVESTMENT MANAGEMENT, LLC | Added | +2.7m |
| Holocene Advisors, LP | New | +2.6m |
| NORGES BANK | Added | +1.7m |
| STATE STREET CORP | Added | +1.2m |
| VANGUARD GROUP INC | Added | +1.2m |
| PRICE T ROWE ASSOCIATES INC /MD/ | Added | +1.1m |
| BANK OF AMERICA CORP /DE/ | Added | +1.1m |
| 1832 Asset Management L.P. | Added | +657.3k |
| EAGLE ASSET MANAGEMENT INC | Added | +536.8k |
Biggest sellers
| Amundi | Reduced | -1.3m |
| APG Asset Management N.V. | Sold out | -971.0k |
| SG Americas Securities, LLC | Reduced | -691.3k |
| Penserra Capital Management LLC | Reduced | -569.8k |
| Strategic Financial Concepts, LLC | Reduced | -469.4k |
| AXA S.A. | Reduced | -467.1k |
| Connor, Clark & Lunn Investment Management Ltd. | Reduced | -452.4k |
| GOLDMAN SACHS GROUP INC | Reduced | -427.0k |
| AMERIPRISE FINANCIAL INC | Reduced | -401.5k |
| FIRST TRUST ADVISORS LP | Reduced | -382.8k |
Biggest calls
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $823.9m3.7m shares |
| CITADEL ADVISORS LLC | Added | $558.2m2.5m shares |
| JANE STREET GROUP, LLC | Added | $497.2m2.2m shares |
| GOLDMAN SACHS GROUP INC | Added | $287.3m1.3m shares |
| SIMPLEX TRADING, LLC | Added | $171.6m776.4k shares |
| IMC-Chicago, LLC | Added | $161.2m729.1k shares |
| UBS Group AG | Added | $154.1m696.9k shares |
| WOLVERINE TRADING, LLC | Added | $114.1m516.6k shares |
| PEAK6 Investments LLC | Reduced | $114.1m516.0k shares |
| CAPITAL FUND MANAGEMENT S.A. | Reduced | $111.2m503.0k shares |
Biggest puts
| CITADEL ADVISORS LLC | Reduced | $402.7m1.8m shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $253.8m1.1m shares |
| UBS Group AG | Added | $192.7m871.8k shares |
| GOLDMAN SACHS GROUP INC | Reduced | $173.3m783.7k shares |
| Qube Research & Technologies Ltd | Reduced | $121.3m548.8k shares |
| ROYAL BANK OF CANADA | Added | $115.2m521.1k shares |
| CAPITAL FUND MANAGEMENT S.A. | Reduced | $111.4m503.9k shares |
| IMC-Chicago, LLC | Added | $94.2m426.2k shares |
| JANE STREET GROUP, LLC | Added | $82.0m370.9k shares |
| D. E. Shaw & Co., Inc. | Added | $78.8m356.6k 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 2024
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 2022 | 0 | — | 1 | $445.1k | — |
| Q1 2023 | 0 | — | 1 | $5.2m | — |
| Q2 2023 | 0 | — | 0 | — | — |
| Q3 2023 | 0 | — | 0 | — | — |
| Q4 2023 | 0 | — | 0 | — | — |
| Q1 2024 | 0 | — | 1 | $1.8m | — |
| Q2 2024 | 0 | — | 0 | — | — |
| Q3 2024 | 0 | — | 0 | — | — |
None reported in Q3 2024.
Holders, Q3 2024
| Manager | Shares | Change |
|---|---|---|
| VANGUARD GROUP INC 0.36% of their portfolio | 90.3m $20.0bn | Added +1.2m |
| BlackRock, Inc. 0.36% of their portfolio | 77.5m $17.1bn | First filing |
| STATE STREET CORP 0.50% of their portfolio | 55.7m $12.3bn | Added +1.2m |
| JPMORGAN CHASE & CO 0.21% of their portfolio | 24.0m $5.3bn | Added +8.9m |
| GEODE CAPITAL MANAGEMENT, LLC 0.37% of their portfolio | 20.5m $4.5bn | Reduced -43.3k |
| BANK OF AMERICA CORP /DE/ 0.34% of their portfolio | 17.4m $3.9bn | Added +1.1m |
| MORGAN STANLEY 0.23% of their portfolio | 14.1m $3.1bn | Added +340.1k |
| NORTHERN TRUST CORP 0.33% of their portfolio | 9.1m $2.0bn | Reduced -347.6k |
| Bank of New York Mellon Corp 0.34% of their portfolio | 8.3m $1.8bn | Reduced -230.7k |
| Amundi 0.69% of their portfolio | 8.2m $1.9bn | Reduced -1.3m |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.42% of their portfolio | 7.4m $1.6bn | Reduced -226.5k |
| NORGES BANK 0.22% of their portfolio | 7.1m $1.6bn | Added +1.7m |
| Legal & General Group Plc 0.41% of their portfolio | 7.0m $1.5bn | Added +344.4k |
| AMERIPRISE FINANCIAL INC 0.40% of their portfolio | 7.0m $1.5bn | Reduced -401.5k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.28% of their portfolio | 6.5m $1.4bn | Added +1.3k |
| ROYAL BANK OF CANADA 0.26% of their portfolio | 5.3m $1.2bn | Added +450.5k |
| FMR LLC 0.07% of their portfolio | 5.2m $1.1bn | Added +294.3k |
| California Public Employees Retirement System 0.79% of their portfolio | 5.1m $1.1bn | Reduced -144.7k |
| DIMENSIONAL FUND ADVISORS LP 0.27% of their portfolio | 5.0m $1.1bn | Added +187.9k |
| BARCLAYS PLC 0.45% of their portfolio | 4.6m $1.0bn | Added +198.8k |
| WELLS FARGO & COMPANY/MN 0.24% of their portfolio | 4.5m $999.8m | Added +105.7k |
| GOLDMAN SACHS GROUP INC 0.18% of their portfolio | 4.2m $925.1m | Reduced -427.0k |
| UBS Group AG 0.26% of their portfolio | 4.1m $912.9m | Added +82.0k |
| Invesco Ltd. 0.16% of their portfolio | 3.8m $849.4m | Reduced -311.0k |
| DEUTSCHE BANK AG\ 0.33% of their portfolio | 3.6m $802.8m | Added +425.7k |
| Nuveen Asset Management, LLC 0.22% of their portfolio | 3.5m $775.4m | Added +148.9k |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.09% of their portfolio | 3.4m $744.7m | Added +1.1m |
| FIRST TRUST ADVISORS LP 0.67% of their portfolio | 3.2m $703.9m | Reduced -382.8k |
| HSBC HOLDINGS PLC 0.40% of their portfolio | 2.9m $647.4m | Added +210.4k |
| Swiss National Bank 0.39% of their portfolio | 2.7m $602.8m | Added +12.4k |
| INTERNATIONAL ASSETS INVESTMENT MANAGEMENT, LLC 0.03% of their portfolio | 2.7m $12.3k | Added +2.7m |
| Holocene Advisors, LP 2.32% of their portfolio | 2.6m $573.3m | New |
| Sumitomo Mitsui Trust Group, Inc. 0.38% of their portfolio | 2.5m $546.8m | Added +32.7k |
| Capital World Investors 0.08% of their portfolio | 2.3m $516.0m | Added +14.3k |
| NEUBERGER BERMAN GROUP LLC 0.35% of their portfolio | 2.0m $449.3m | Added +37.8k |
| Capital Wealth Planning, LLC 4.11% of their portfolio | 2.0m $441.0m | Added +416.0k |
| National Pension Service 0.42% of their portfolio | 2.0m $438.4m | Added +241.7k |
| STIFEL FINANCIAL CORP 0.45% of their portfolio | 1.9m $425.0m | Added +9.3k |
| BNP PARIBAS FINANCIAL MARKETS 0.40% of their portfolio | 1.9m $411.5m | Added +309.3k |
| RHUMBLINE ADVISERS 0.34% of their portfolio | 1.7m $381.6m | Reduced -64.6k |
| FRANKLIN RESOURCES INC 0.11% of their portfolio | 1.6m $381.7m | Added +302.7k |
| BANK OF MONTREAL /CAN/ 0.17% of their portfolio | 1.6m $357.4m | Reduced -41.8k |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.39% of their portfolio | 1.5m $334.4m | Added +1.8k |
| RAYMOND JAMES & ASSOCIATES 0.20% of their portfolio | 1.5m $331.8m | Added +190.5k |
| LSV ASSET MANAGEMENT 0.71% of their portfolio | 1.5m $329.6m | Reduced -223.9k |
| Mitsubishi UFJ Asset Management Co., Ltd. 0.35% of their portfolio | 1.5m $329.1m | Added +119.3k |
| Aberdeen Group plc 0.60% of their portfolio | 1.5m $325.2m | Added +40.3k |
| HighTower Advisors, LLC 0.45% of their portfolio | 1.4m $314.8m | Added +85.7k |
| ALLIANCEBERNSTEIN L.P. 0.10% of their portfolio | 1.4m $306.1m | Added +362.4k |
| ENVESTNET ASSET MANAGEMENT INC 0.10% of their portfolio | 1.4m $300.2m | Added +48.7k |
| DekaBank Deutsche Girozentrale 0.55% of their portfolio | 1.4m $298.1m | Added +98.5k |
| Thrivent Financial for Lutherans 0.56% of their portfolio | 1.3m $296.5m | Reduced -60.8k |
| CANADA LIFE ASSURANCE Co 0.49% of their portfolio | 1.3m $283.3m | Added +44.7k |
| ProShare Advisors LLC 0.69% of their portfolio | 1.3m $280.9m | Reduced -17.7k |
| LPL Financial LLC 0.12% of their portfolio | 1.2m $273.8m | Added +33.0k |
| PRUDENTIAL FINANCIAL INC 0.37% of their portfolio | 1.2m $264.6m | Added +58.7k |
| NEW YORK STATE COMMON RETIREMENT FUND 0.35% of their portfolio | 1.2m $261.6m | Reduced -38.4k |
| PNC Financial Services Group, Inc. 0.17% of their portfolio | 1.2m $259.9m | Reduced -6.0k |
| AQR CAPITAL MANAGEMENT LLC 0.34% of their portfolio | 1.1m $244.5m | Reduced -114.5k |
| PRINCIPAL FINANCIAL GROUP INC 0.13% of their portfolio | 1.1m $241.9m | Added +47.0k |
| DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main 0.25% of their portfolio | 1.1m $240.1m | Reduced -194.6k |
| ADAGE CAPITAL PARTNERS GP, L.L.C. 0.42% of their portfolio | 1.1m $238.4m | Added +202.1k |
| Swedbank AB 0.29% of their portfolio | 1.0m $227.8m | Reduced -23.7k |
| CITIGROUP INC 0.21% of their portfolio | 1.0m $223.9m | Reduced -264.7k |
| Robeco Institutional Asset Management B.V. 0.44% of their portfolio | 1.0m $223.8m | Added +66.0k |
| W1M Investment Management Ltd 3.66% of their portfolio | 1.0m $222.7m | Added +19.8k |
| SCHRODER INVESTMENT MANAGEMENT GROUP 0.23% of their portfolio | 997.9k $220.6m | Added +165.1k |
| Brandywine Global Investment Management, LLC 1.40% of their portfolio | 891.7k $209.8m | Added +58.7k |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM 0.37% of their portfolio | 886.8k $196.1m | Reduced -18.0k |
| KBC Group NV 0.59% of their portfolio | 886.3k $195.9m | Added +449.9k |
| JANUS HENDERSON GROUP PLC 0.10% of their portfolio | 871.1k $192.6m | Added +183.1k |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP 0.16% of their portfolio | 847.1k $187.3m | Added +525.6k |
| Epoch Investment Partners, Inc. 0.82% of their portfolio | 831.6k $183.8m | Reduced -61.7k |
| NEW YORK STATE TEACHERS RETIREMENT SYSTEM 0.38% of their portfolio | 828.2k $183.1m | Reduced -30.0k |
| Mitsubishi UFJ Trust & Banking Corp 0.41% of their portfolio | 820.1k $181.3m | Reduced -2.3k |
| WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.37% of their portfolio | 779.5k $172.3m | Added +68.8k |
| NATIONAL BANK OF CANADA /FI/ 0.23% of their portfolio | 776.7k $171.7m | Reduced -74.6k |
| TRUIST FINANCIAL CORP 0.26% of their portfolio | 761.5k $168.3m | Added +231.1k |
| Retirement Systems of Alabama 0.59% of their portfolio | 713.4k $157.7m | Reduced -63.0k |
| COMMONWEALTH EQUITY SERVICES, LLC 0.23% of their portfolio | 700.1k $154.8m | Added +4.0k |
| Unisphere Establishment 1.47% of their portfolio | 700.0k $154.8m | Reduced -200.0k |
| TCW GROUP INC 1.34% of their portfolio | 694.5k $153.5m | Added +54.9k |
| Korea Investment CORP 0.36% of their portfolio | 679.6k $150.3m | Added +115.8k |
| 1832 Asset Management L.P. 0.25% of their portfolio | 672.8k $148.7m | Added +657.3k |
| Raymond James Financial Services Advisors, Inc. 0.20% of their portfolio | 667.8k $147.6m | Added +13.6k |
| TD Asset Management Inc 0.13% of their portfolio | 652.6k $144.1m | Added +31.9k |
| Russell Investments Group, Ltd. 0.21% of their portfolio | 647.8k $143.2m | Added +41.4k |
| Janney Montgomery Scott LLC 0.39% of their portfolio | 638.5k $141.2m | Reduced -12.0k |
| EAGLE ASSET MANAGEMENT INC 0.69% of their portfolio | 628.2k $134.3m | Added +536.8k |
| BNP PARIBAS ASSET MANAGEMENT Holding S.A. 0.33% of their portfolio | 598.3k $132.3m | Added +45.7k |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.11% of their portfolio | 585.2k $129.4m | Added +5.5k |
| FORT WASHINGTON INVESTMENT ADVISORS INC /OH/ 0.78% of their portfolio | 577.6k $127.7m | Reduced -185.0k |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. 0.28% of their portfolio | 571.1k $126.3m | Added +11.6k |
| US BANCORP \DE\ 0.16% of their portfolio | 565.4k $125.0m | Reduced -18.3k |
| STATE OF WISCONSIN INVESTMENT BOARD 0.30% of their portfolio | 541.5k $119.7m | Added +30.8k |
| Baird Financial Group, Inc. 0.23% of their portfolio | 528.9k $116.9m | Added +9.4k |
| JENNISON ASSOCIATES LLC 0.07% of their portfolio | 522.1k $115.4m | Added +53.7k |
| AVIVA PLC 0.30% of their portfolio | 519.6k $114.9m | Added +12.3k |
| Asset Management One Co., Ltd. 0.40% of their portfolio | 514.0k $113.6m | Added +4.2k |
| Chevy Chase Trust Holdings, LLC 0.35% of their portfolio | 513.7k $113.6m | Reduced -8.2k |